Minerals 260

ASX:MI6

Project Overview

Bullabulling Gold Project

Transformational acquisition of the 2.3Moz Bullabulling Gold Project in Western Australia, one of Australia’s largest undeveloped gold projects.

Highlights

  • With a JORC 2012 RPEEE1 reportable Mineral Resource estimate of 60Mt @ 1.2g/t Au for 2.3Moz, Bullabulling is one of Australia’s largest open pittable near-term production gold resources.
  • Mineral Resource is located on granted mining leases in the world-class mining jurisdiction of Western Australia and infrastructure-rich Coolgardie Region. Native Title Land Use Agreement is also in place.
  • Previous metallurgical test work undertaken at Scoping and Prefeasibility Study levels showed that the deposit is amenable to conventional Carbon-In-Leach (“CIL”) processing and the average gold recovery utilised for the resource was 87%.
  • Strong foundations support the near-term production goal, including approximately 12,000 drill holes for 530,000 metres across the Project, along with significant metallurgical test work completed.
  • Numerous highly prospective targets at depth and along strike, supports the plan to grow the Bullabulling mineral resource further.
  • Minerals 260 plans to commence an 80,000 metres Reverse Circulation (“RC”) and Diamond Core (“DD”) infill and resource extension drilling campaign immediately after completion of the Proposed Transaction.
  • Existing on-site infrastructure includes an exploration camp, administration office, water services to camp, refuelling tank, and storage buildings.
  • Meaningful historical production in the 1990s of ~3.9Mt of ore recovering ~179,000 oz of gold when the gold price was ~A$500 per ounce2.
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Moora Project

  • Contiguous, 371km2 area located in the Julimar Mineral Province ~140km north NE of Perth, Western Australia
  • 100%-owned by Minerals 260
  • Drilling has intersected significant mineralisation at several prospects:
    • Mynt – up to 24m @ 1.9% copper and 0.7 g/t gold, and 36m @ 1.0% copper and 0.4g/t gold
    • Angepena – up to 43m @ 1.8g/t gold, and 16m @2.8g/t gold
    • Zest – up to 12m @ 1.4% copper, and 2.0g/t gold
    • Dwel – up to 2.7g/t gold, 0.5% copper, 0.08% cobalt and 5.7% zinc
    • Acga – up to 0.6g/t palladium and 0.6% copper
  • Planning continues for the re-commencement of exploration activities at Moora in Q4 2024.
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Aston Project

  • Largely contiguous, 1,515km2 area located ~850km north of Perth, Western Australia.
  • Acquired Q1 2023 – 100% owned with no private royalties.
  • Located in rapidly emerging Gascoyne mineral province close to recent world-class, lithium and REE discoveries.
  • Strike extensions of prospective stratigraphy confirmed within Project area with only limited historic exploration reported.
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Footnotes

  1. Reasonable Prospects for Eventual Economic Extraction ↩︎
  2. Refer to ASX announcement dated 7 February 2013 by Bullabulling Gold Pty Ltd (formerly Bullabulling Gold Limited (ASX: BAB) ↩︎