Kulin Project Location Map with surrounding Gold Deposits

Footnotes:

  1. Figure 3 in Ausgold Limited ASX Announcement 1 November 2019 “Scoping Study shows potential for a new gold mine at Katanning”.
  2. Aurum Analytics, Australian & New Zealand Gold Operations December Quarter 2019 – Final Report.
  3. Endowment figure combining production up to 30th June 2019 sourced from www.rameliusresources.com.au, Catalpa Resources Annual Reports, Evolution Mining Annual Reports, and Ramelius Resources Annual Reports and resources are as stated in the Ramelius Resources Annual Report 2019.
  4. Ausgold Limited ASX Announcement 1 November 2019 “Scoping Study shows potential for a new gold mine at Katanning”.
  5. Explaurum Limited ASX Announcement 30 May 2018 “Tampia Feasibility Confirms Robust High-Margin Gold Project”. 
  6. Maxlow, J., 1990, Griffin’s Find Gold Deposit, Lake Grace in Geology of the Mineral Deposits of Australia and Papua New Guinea, Melbourne, Australia, The Australasian Institute of Mining and Metallurgy, p. 171-175

The Company has one granted exploration licence (312 km²) located ~230 km south-southeast of Perth in Western Australia. Venture is focusing on the interpreted layered mafic-ultramafic intrusion near the town of Kulin, with Chalice’s Julimar Ni-Cu-PGE discovery sitting along trend ~200km to the north-west in a similar geological sequence. The layered mafic-ultramafic intrusion target sits within the granted exploration licence (E70/5077) which has 60 strike kms of interpreted ultramafic zones.

A recently completed trenching program over some of the previously discovered high order gold in soil anomalies at Kulin, has delivered substantial mineralised intervals of 41 metres @ 0.8 g/t gold Au (including 31 meters at 1.0g/t Au) from KUT02 and 20 metres @ 0.6g/t Au from KUT04 within mostly saprolitic granite. These broad, strongly mineralised gold zones in the trenches, not only confirm the soil anomalies, but also suggest there is significant potential for intersecting broad zones of gold mineralisation at depth which the maiden diamond drilling program (in progress) is designed to test.

The trenching program has now confirmed that multiple gold targets have been discovered at the 100% owned Kulin Project, located in an emerging Western Australian Gold Province, already host to major gold deposits such as Boddington >30 Mozs1 (currently Australia’s 2nd largest gold producer2), Edna May 2.2 Mozs3, Katanning 1.2Mozs4 and Tampia 0.7Mozs5.

At Kulin, the Company initially focused on surface sampling and mapping programs over the priority target for Nickel-Copper and PGE mineralisation, which coincided with an area of historic gold prospectivity identified by BHP with a peak rock chip result of 1.5 g/t gold. Further soil sampling resulted in Venture delineating a cluster of six high order (peaking at 399ppb (0.4g/t)) gold in soil anomalies within a 2km x 1km area of gold anomalism, comparable in size to the soil geochemical footprint of the nearby Tampia Gold Deposit.

Kulin Trenches with significant mineralised intervals on Gold in Soil contours and aeromagnetics

Kulin Project – Aeromagnetic Image over Priority Target