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Investment Highlights & Strategy

Adelong Goldfield
(NSW) Projects

  • 800kozs Historical production
  • 68km2 Exploration permit
  • 1.5km2 Mining permit​
  • Initial target > Flagship Challenger Gold Project

188K Total
JORC Resource1

  • Challenger Deposit
    80k ozs @3.77g/t​ Au
  • Currajong Deposit
    45k ozs @ 2.61g/t​ Au​
  • Donkey Hill Deposit
    17k ozs @ 5.03g/t​ Au
  • Caledonian Deposit
    28k ozs @ 3.48g/t​ Au
  • Perkins West, Gibraltar
    18k ozs @ 2.1g/t​ Au

1 Refer ASX Announcement 16 October 2023

Significant Resource
Potential

  • Adelong Gold has substantially increased the project resources by 45% to 188,000oz.
  • Initial drilling at Gibraltar highlights the potential for additional resources​
  • Other exploration targets identified for drilling include Sawpit, Fletchers, and Northern Caledonian

Permitted with
Processing Options

  • Mining permit in place​ for Challenger
  • Metallurgical test work completed and confirms major part of the gold recovered through a low-cost gravity ​process​
  • Metallurgical test work completed and confirms major part of the gold recovered through a low-cost gravity ​process

Scoping Study confirms
a viable project​

  • The initial Scoping Study based on 55% of the Resources demonstrates a commercial project with high 72% IRR (before Tax)
  • Study based on a central processing plant treating ore from satellite deposits​
  • Any additional Open Cut Resources can add significantly to the economic returns

Expand Resources

  • Improve the economic potential further by expanding the resources and targeting higher grades
  • JORC Resources increased to date by 45%
  • On-going exploration expected to increase values further
  • Initial Targets are Gibraltar, Sawpit and Northern Caledonian extension

Mine Plans

  • Existing Plant is to be upgraded and operate as a Central Processing Facility treating ore from the region
  • Scoping Study shows a 5 Year Mine Life and the foundations for a commercial operation.
  • On-going exploration, resource assessments and acquisitions are expected to extend the mine life and add to the potential commercial returns

Commercial Options

  • Scoping Study highlights an attractive investment opportunity
  • Formalise terms for Mining Contracts, Plant Construction and other services
  • Obtain all necessary government approvals
  • Finalise the finance / realise the values for shareholders