Kulin Project, Nickel-Copper-PGE-Gold, Australia

Introduction

The Company has four granted exploration licences (606 km²) located ~230 km east-southeast of Perth in Western Australia. Venture is focusing on two highly prospective 20 kilometre long interpreted mafic- ultramafic intrusive complexes sitting along strike of the Jimperding Metamorphic belt which hosts Chalice’s Julimar Ni-Cu-PGE discovery. The southern 20km long Ni-Cu-PGE target is defined by aeromagnetic anomalies and coincidental +500ppm chromium surface samples, combined with several reconnaissance surface samples assaying over 30ppb Pt + Pd (peak of 60ppb Pt + Pd), is now considered a priority target for the Company. In the southern part of the priority Ni-Cu-PGE target, Venture can earn up to 100% in E70/5084 (173km²) which already contains highly significant shallow (<25 metre deep) drill intersections from a historic four hole reconnaissance drilling program with assays up to 0.11 g/t Pt, 0.13g/t Pd, 0.14% nickel, 0.02% cobalt & 0.12g/t gold. The northern 20km long Ni-Cu-PGE target is also defined by aeromagnetic anomalies and coincidental +500ppm chromium surface samples from reconnaissance programs by previous explorers. A third mafic-ultramafic intrusive complex (~10 kms long) has been interpreted in the northern end of the project mostly within Venture’s original tenement (E70/5077) and likewise is defined by aeromagnetic anomalies and coincidental +500ppm chromium surface samples. In addition to the Ni-Cu-PGE targets at Kulin, the Company has delivered a substantial gold intersection from the maiden drill program with mineralised intervals of up to 18 metres @ 0.6g/t Au in KLD001 from 329 m including higher grade zones of 9 m @ 1.2 g/t Au from 338m and 3 m @ 3.4g/t Au from 341m. The significance of the results from the drilling cannot be underestimated as these holes are the only meaningful (in terms of depth) drill holes within a 40km radius of the Kulin project within 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.

Kulin Project Location Map with surrounding Gold Deposits

Disseminated sulfides intersected in the reconnaissance drilling program testing a gold target at Kulin in 2021, have been confirmed by recent petrography as being pyrrhotite-pentlandite-chalcopyrite (Nickel- Copper sulfides) with textures consistent with formation from a sulfide melt and therefore confirming the fertility of the Kulin Project to host Nickel-Copper sulfide mineralisation. The third and final drill hole of the reconnaissance program intersected gabbro and mafic granulite with these disseminated sulfides now confirmed as nickel-copper bearing, which increases the prospectivity of interpreted mafic-ultramafic intrusive complexes at Kulin to host Nickel-Copper mineralisation.

In April 2023, Venture identified, from the 1,365 line-kilometre AEM survey using Geotech Ltd.’s Versatile Time-Domain Electromagnetic (VTEM™ Max) geophysical system at Kulin, conductivity anomalies coincidental with anomalous REEs Lanthanum and Cerium soil values over several kilometres within the northern and southern areas of the project. These new coincident anomalies are considered high priority clay hosted REE targets, warranting follow up drill testing at the earliest opportunity.

Showing interpreted Mafic-Ultramafic Intrusive Complexes on aeromagnetics with AEM survey areas

Kulin – the priority southern Ni-Cu-PGE target with Chromium in laterite contours, Pt + Pd laterite results and Historic Drill Hole mineralised intersections on aeromagnetics

Gold in Soil contours on aeromagnetics with Trench and Recent Drill Hole locations

Northern Area: La + Ce laterite sample results over AEM image.

Southern Area: La laterite sample results over AEM image.

Footnotes:

Figure 3 in Ausgold Limited ASX Announcement 1 November 2019 “Scoping Study shows potential for a new gold mine at Katanning”.
Aurum Analytics, Australian & New Zealand Gold Operations December Quarter 2019 – Final Report.
Endowment figure combining production up to 30^th 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.
Ausgold Limited ASX Announcement 1 November 2019 “Scoping Study shows potential for a new gold mine at Katanning”.
Explaurum Limited ASX Announcement 30 May 2018 “Tampia Feasibility Confirms Robust High-Margin Gold Project”.
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.

KULIN Project, NICKEL - COPPER - PGE & GOLD

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