The Company’s recent acquisition of Highland Resources included four gold-silver projects being Cobungra, Mitta, Bindi and Good Hope-Union. All have proven gold mineralisation evident in either historical gold workings (Bindi, Goodhope-Union, Mitta, Cobungra) or from modern exploration results (Cobungra Project). These tenements are located in Victoria within the prospective Lachlan Fold Belt.
The fully integrated San José Lithium Project will utilise one of Europe’s largest hard rock lithium resource as feedstock for a lithium chemicals conversion plant adjacent to the resource area. The integrated nature and location of this project will provide a sustainable source of battery grade lithium chemicals, required for the European lithium-ion battery supply chain.
Cobungra
Multiple prospects in a strong gold neighbourhood
The Cobungra Project is characterised by structurally controlled, intrusive-related gold mineralisation as highlighted by lineaments of historical workings. These historical workings are characterised by mineralisation hosted in brecciated, silica-sulphide rich alteration. Two NNW-SSE trends hosting several gold workings are evident and interpreted to be possible dilutionary splays off the Ensay Shear Zone.
The Comstock Gold-Silver Prospect lies 2 km along strike to the southeast from Forsyth Prospect. At this prospect, rock chip samples returned up to 4.4 g/t Au and 302.6 g/t Ag . Geophysical (I.P) targets were defined in 2011-2014, but these remain untested. There has been no drilling to date.
The Company views this as an extremely compelling target in open pasture with land access already obtained for exploration activity from the landowner and drilling permits and environmental bonding in place. This prospect offers a further near-term exploration opportunity with a high-impact target.
The Forsyth Gold-Silver Prospect (also inside the Cobungra Project) was explored by Mt Wills Gold Mines, with a diamond drilling programme of 5 drillholes for 704m in 2011-2.
Significant results returned:
5.35 m @ 4.7 g/t Au, 334.2 g/t Ag from 143 m, including 1.3 m @ 11.5 g/t Au, 906 g/t Ag from 74m in (FS11-01).
2.9m @ 0.7 g/t Au, 134 g/t Ag from 58m,
and 0.75m @ 3.7 g/t Au, 185 g/t Ag from 64m (FS-04)
There has been no follow up exploration at Forsyth since 2012.
Refer ASX Announcement dated 31 March 2025.
Mitta, Good Hope-Union and Bindi
Other prospective opportunities
Other projects within the portfolio (Mitta, Good Hope-Union, Bindi) are equally prospective geologically though have had less modern exploration activity to define immediate drilling targets. The Company believes they offer good opportunity exploration programmes being formulated for prospects such as the northern extension of the Banimboola Quartz-Monzogranite which extends into the north-eastern portion of the tenement (Mitta Project, EL 7072). Here, gossanous iron-staining from sulphidic alteration is evident in shear zones exposed in road cuttings.
The prospect (Granite Flat North) area covers the northern extension of the Banimboola Quartz-Monzogranite and this intrusion hosts the Granite Flat Au-Cu-Ag porphyry prospect owned by Dart Mining Limited (Figure 7) which has recorded hits such as 19m @ 9.4 g/t Au and 19 g/t Ag from 28m (ASX release Dart Mining ASX.DTM 8 March 2021).
Mitta, Good Hope-Union and Bindi
Sulphidic alteration evident in road cuttings.
Mitta Project
The San José Lithium Project
A fully integrated lithium project, strategically located to cornerstone a European lithium battery value chain.
The San José Lithium Project is a fully integrated lithium extraction and conversion project located in Spain. The Project is progressing through it Direct Exploitation Concession Application with the regional government of Extremadura as it works towards final permitting for the Project.
Utlising one of Europe’s largest lithium resources, San José is critical to the success of Europe’s ambitions to build its own lithium battery value chain as it continues to strive toward electrification.
The San José Lithium Project
The EU must get rid of its dependency on fossil fuels. Spain is a front runner here, with its large renewables share and LNG capacities. Spain can and will play an important role in supplying Europe.
Ursula von de Leyen, President of the European Commission, 6 March 2022
