THE ABUJAR PROJECT, Cote d’Ivoire

HIGHLIGHTS

current resource stands at 45.5Mt @ 1.5 g/t Au for 2.15 Moz of contained gold

3 contiguous tenements totalling 1,114km2 in Côte d’Ivoire

Underexplored with 90% of 70km long shear zone remaining to be tested

Preliminary metallurgy testwork demonstrates high gold recovery using conventional CIL with significant low cost gravity

Major drilling program underway with 30,000m of DD and RC in 2019


PROJECT SUMMARY


The Abujar Gold Project is located approximately 30km from the major regional city of Daloa in central western Côte D’Ivoire. It is close to excellent regional and local infrastructure to facilitate exploration and development being only 15km from nearest tarred road and grid power. The Abujar Gold Project is comprised of three contiguous tenements with a total land area of 1,114km2, of which less than 10% has been explored. It features an NNE‐orientated gold corridor over 70km striking across three tenements.

Above: Location of the Abujar Gold Project

MINERAL RESOURCE

In November 2019 a substantial upgrade to the resource was announced at Abujar, a 24% increase to 45.5Mt @ 1.5 g/t Au for 2.15 Moz of contained gold.

Shallow high‐grade core increased 32% to 1.4M oz at 2.2 g/t gold, including new Indicated category 0.8M oz at 2.5 g/t. High grade core near surface, located at the northern end of the AG deposit increased in both ounces and grade to 19.3Mt @ 2.2 g/t Au for 1.4 Moz, including Indicated Resources of 9.6Mt at 2.5g/t for 0.76Moz. The high‐grade AG resource now stands at >4,000 oz per vertical metre, suggesting potential for a high margin open pit mining operation.

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HIGH GRADE DRILLING RESULTS

Drilling continues to demonstrate depth extensions of high‐grade gold mineralisation and confirms continuity of high‐grade gold mineralisation within the current resource model:

ZDD063 on Line 21 (ASX 27/08/2019)

  • 8m @ 1.27 g/t Au from 252m including:
    • 2m @ 15.32 g/t Au from 278m including 1m @ 30.06 g/t Au from 279m ZDD061 on Line 22 (ASX 27/08/2019)
  • 73m @ 2.80 g/t Au from 218m including:
    • 17m @ 2.18 g/t Au from 218m including 1m @ 34.59 g/t Au from 218m
    • 17m @ 8.80 g/t Au from 254m including
      • 7m @ 20.63 g/t Au which includes 1m @ 103.9 g/t Au from 254m and 1m @

34.31 g/t Au from 260m (ASX 26/07/2019), and

  • 5m @ 2.91 g/t Au from 286m including 1m @ 9.08 g/t Au from 289m ZDD072 on Line 22 (ASX 26/09/2019)
  • 12m @3.95 g/t Au from 342m including:
    • 5m @ 3.02 g/t Au from 342m including 1m @ 12.14 g/t Au from 342m
      3m @ 10.53 g/t Au from 352m including 1m @ 14.88 g/t Au from 352m and 1m @ 16.31 g/t Au from 353m
  • 6m @1.96 g/t Au from 376m including 2m @ 2.42 g/t Au from 380m ZDD059 on Line 23 (ASX 27/08/2019)
  • 11m @ 1.95 g/t from which includes:
    • 3m @ 5.11 g/t Au from 307m ZDD064 on Line 24 (ASX 20/08/2019)
  • 7m @ 4.09 g/t Au from 308m including 1m @ 18.52 g/t Au from 312m

ZDD062 on Line 25 (ASX 20/08/2019)

  • 14m @ 3.36g/t Au from 292m including:
    • 6m @ 6.29 g/t Au from 298m including 1m @ 19.33 g/t Au from 305m

ZDD060 on Line 26 (ASX 20/08/2019)

  • 4m @ 9.21 g/t Au from 325m including 1m @ 29.22 g/t Au from 328m ZDD055 on Line 27 (ASX 27/08/2019)
  • 8m @ 3.47 g/t Au from 241m within a broad gold mineralisation zone of 77m @ 0.59 g/t Au from 241m including 4m @5.99 g/t Au from 245m which includes:
    • 1m @ 8.23 g/t Au from 245m
    • 1m @ 14.17 g/t Au from 248m

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Current Program

Four company-owned rigs are undertaking a 50,000m drilling program targeting rapid resource growth:

  • Resource definition at AG, AG Deeps and APG
  • Drill testing high priority regional targets

The next Mineral Resource Estimate update is planned for Q3 2020.