MRR

(%)

PROJECTS

Garden Creek, Sisters & Talga

In July 2023, the Company undertook an independent review of the existing geochemical data from the Marble Bar projects, focusing on the lithium potential within the tenements. The review highlighted several areas of interest, with interpreted LCT style pegmatite geochemical signatures from the rock and soil geochemical results previously obtained at the Sisters Project.

1564_Marble Bar Figure

The Sisters and Garden Creek Projects cover portions of the fertile Marble Bar Greenstone belt. At the Sisters Project areas of interest have been identified as occurring within the “Goldilocks Zone,” a defined corridor in which LCT pegmatites are known to exist. This Goldilocks Zone is traditionally situated beyond the granitic terrain and within the Greenstone belt.  The review identified three areas for prospective exploration targeting within the Sisters Project, from previously wide-spaced (400m by 100m) soil sample results and scattered rock chip samples.

In November 2023, the Company received the assay results from the soil sampling program over the Garden Creek and Sisters tenements (ASX Announcement 22 November 2023 Soil Sampling Results Received for Marble Bar Projects). A total of 2,099 soil samples were collected over a nominally 100m by 25m spaced grid at the Sisters tenement and 400m by 100m spaced grid at the Garden Creek Tenement, the soil samples were assayed for 48 multi elements, which included an industry standard suite of LCT pathfinder elements.

The soil sampling was undertaken following a review of historic geochemical data, where Dr Nigel Brand of Geochemical Service Pty Ltd identified three areas at the Sisters tenement showing interpreted LCT style pegmatite geochemical signatures from broadly spaced rock and soil geochemical results. At the Garden Creek tenement, the purpose of the soil sampling was to provide first pass geochemical coverage over the tenement.

The assay results from the samples at the Sisters tenement are generally consistent with the original broad spaced soil sampling and better delineated several discrete elevated lithium areas (100ppm lithium). There are generally 4-5 broad zones identified by a cluster of 100ppm lithium, mostly in close proximity to the contact point between mafic and ultra-mafic dominant rock types (North Basalt / McPhee Formation) and the granites of the Homeward Bound Granite. The lithium assays at Sisters tenement range between 3.7ppm and 280ppm lithium (median 51.8ppm lithium). At 150ppm lithium, these elevated assay results remain and become less broad and more discrete. The Company intends to conduct further field reconnaissance over these discrete areas of elevated lithium from the soil sampling. This will involve rock chip sampling to determine if there are outcropping LCT pegmatites and, if they are present, ascertain their mineralogy to assess the potential for further exploration targets.

At the Garden Creek tenement, the lithium assays range between 13.6ppm and 102ppm lithium (median 34.7ppm lithium). At 100ppm lithium, there are no discrete multi sample elevated lithium results. Although there are multiple elevated results interpreted at 50ppm lithium, these do not form clusters considered anomalous. It is the intention of the Company to undertake reconnaissance over the higher tenor lithium soil assays to determine if there are outcropping LCT pegmatites and, if they are present, ascertain their mineralogy to assess the potential for further exploration targets.

Alongside the soil sampling program, further reconnaissance rock chip sampling was carried out over large areas of the Greenstone belt in the northwest portion of the Sisters tenement with sampling failing to return any significant lithium assay results, the Company is continuing geological review of the area.

The Company is now focused on the ongoing geological review of Garden Creek and Sisters tenements at the Marble Bar Lithium Project in Western Australia and continued assessment of multiple opportunities in Australia and overseas to position the Company to achieve maximum value for Shareholders.

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