7 2022 ANNUAL REPORT EXPLORATION AND RESOURCE DEVELOPMENT KING OF THE HILLS The 40,100 metres of drilling conducted at KOTH for FY-22 focussed on a mix of stope de-risking (GC) and infill and extensional drilling for resource development. The key areas targeted were: \ \ de-risking narrow vein stopes in the Central area; \ \ de-risking bulk stopes in the Syra (West decline below the W4890) and West decline below W4895; \ \ infilling the Regal (north) 4925 stope shapes from the W4950 and Regal 4885; \ \ testing the Regal area below the 4925 and East – West Link. DARLOT Darlot near-mine exploration Near-mine drilling at Darlot during FY-22 focused on extending new mining areas such as Middle Walters South and reducing the dependency on remnant mining. Results reported included strong intercepts from Middle Walters South and positive results from Dar-Cent, Oval 1300 and Pedersen Lower, all of which offer the opportunity for resource growth. Great Western The first stage of the Great Western underground drill program comprising nine exploration drill holes was completed in midDecember 2021. The program was designed to test the underground potential of the Great Western orebody below the open pit and returned encouraging results with drill holes intersecting a mineralised zone ranging from sub-1.0 metres up to 4.0 metres in width over an approximate 300-metre strike length. The geology logging results confirm that the orebody continues at depth below the Great Western open pit and provides evidence that supports ongoing resource exploration drilling to further de-risk the underground resource potential and test the extent of the orebody, which remains open at depth. Mission and Cable Resource definition and exploration drilling completed at the Mission and Cable prospects, located 10km north of Darlot, delivered high-grade assay results and identified new zones of gold mineralisation. The drilling program comprised a combination of reverse circulation (RC) percussion drilling to underpin an upgrade of the historical JORC 2004 mineral resource estimates to JORC 2012 status, as well as exploration diamond drilling aimed at identifying new zones of mineralisation. At Cable, diamond exploration drilling identified a broad new zone of mineralisation measuring between 70 and 100 metres width, which was intersected in all diamond holes and is observable along the entire length of the known extent of gold mineralisation. At the Mission prospect, similar to Cable, assay results from both the RC and diamond drill programs have been encouraging, confirming good continuity of gold mineralisation and identifying new zones of mineralisation within the historical oxide mineral resource. MANAGING DIRECTOR’S Report (cont.) King of the West Assay results from air-core (AC) drilling completed over the King of the West area in March 2021 identified significant gold anomalism associated with a sheared mafic-granite contact and sheared mafic host rock similar to the mineralisation setting observed at Great Western. Large parts of the tenement remain untested, with structures and geology bearing similarities to major gold deposits in the area, including Great Western. The AC program was designed to test three of these areas to identify targets for follow-up RC drilling. Great Southern A pXRF soil sample program covering the Great Southern area commenced in late April 2022 and was ongoing at the end of the reporting period. The target area represents the southern-most extent of the Yandal Belt, containing a central corridor of NW trending ultramafic-mafic greenstones which are bound to the east and west by granitoids. Structurally, the package is superficially analogous to Darlot, bound and intersected by the regional NNW trending El Dorado and Waikato shear zones, and deformed by smaller-scale structures. Gilmore Well The Gilmore Well prospect, located approximately 10km SW of the Darlot mine, comprises a large and sparsely explored area west of the Emperor mineralised corridor. Previous exploration results from historical soil and rock chip sampling defined a continuous NW-SE gold trend extending up to 1km, as well as several smaller NE-SE and N-S oriented Au trends which range in length between 300-400 metres. Historical assay results reported values up to 2.9g/t Au in rock chips (sourced from auriferous quartz veins) and 20ppb Au from soil samples. The main NW-SE trending corridor is parallel to the proximal Emperor trend, and all identified gold trends show a spatial relationship with the margins of prominent magnetic highs and areas of sub-cropping dolerite and vein quartz float.
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