Douglas

The Douglas Project consists of two Tenements, being EL7544 and EL7545.

EL7544 is located in western Victoria, approximately 55 km west-southwest of Horsham and access to this tenement is via the Wimmera Highway to the west from Horsham with a good network of local roads.

EL7545 is located in western Victoria, approximately 43 km south of Edenhope. Access to this tenement is via Harrow Road, then Casterton-Edenhope Road south from Edenhope with a good network of local roads.

EL7544 is close to mining licence MIN5367 where the Douglas Mineral Sands Min, which is not associated with EL7544 or EL7545, was operated by Iluka Resources Pty Ltd (Iluka), with mining finishing in 2012. The Douglas Area is comprised of several mineralised strandlines and includes the Douglas Project and Douglas Mineral Sands Mine. The four main strandlines of economic interest are, from west to east, Acapulco, Bondi, Bondi East, and Echo. The Douglas Project’s HM concentrate is coarse-grained with mean diameter grain size of the strandline deposits ranging from 130 µm to 160 µm in size.

The Douglas Project’s HM occurrences on the West Wimmera Strand Plain domain appear different from other deposits in the Murray Basin because they are generally thick, wide and contain high HM grades. There is also an absence of cover sediments over much of the prospective beach sequence.

The Company plans to undertake a systematic exploration and definition program at the Douglas Project by commencing with geological and geophysical investigations in conjunction with drilling. The drilling will be undertaken at an appropriate drill density, to gain a fuller understanding of the mineral potential, with an aim of defining a JORC standard resource, contingent on successful outcomes.