Galah Well and Peperill Hill Projects

Gala Well and Peperill Hills' prospectivity have been enhanced materially via recent success at Mt Alexander (owned by ASX-listed St George Mining: SGQ):

Drill hits have included 6.39m @ 8.08% Ni & 5.06% Cu from 184m (XRF).

The Board is readying to send a field team to site in the new year to undertake detailed mapping and soil sampling.

This follows key findings from a desktop review highlighting, from aero-magnetic imagery, the Peperill Hill and Galah Well projects are close to where two (and possibly three) differing mineralised systems intersect.

This largely explains why the projects are highly prospective for Co-Ni-Cu mineralisation and laterites:

There is a N-S trending magnetic anomaly, likely a shear zone, connecting Talisman's (ASX: TLM) Sinclair Nickel Mine (38kt Ni metal produced 2008-2013) with the Schmitz Well prospect (which is on the same system as significant historic intercept: 2m @ 7,290ppm Co from 34m5).

The Peperill Hill prospect conatins several similar N-S trending structures which are prospective for lateritic cobalt mineralisation, given with confirmed occurrences within the tenement.

Further, there are a series of E-W structures - known as Proterozoic dykes of the Widgiemooltha Supersuite - that intersect both projects and are prospective for Co-Ni-Cu sulphide mineralisation.