Sulphide Creek Gold-Antimony Project

Sulphide Creek Gold-Antimony Project¹ (EL16/2022) is located in Tasmania’s world-class Queenstown mining district
Multiple gold targets along 6 km of strike, tracking a major structure which has been under-explored to date
> Historical workings contain up to 14g/t Au
> Antimony workings with notable 60-70% Sbhigh grades
Multiple mineralisation models to explore and develop; with orogenic Victorian Beaconsfield-style or Henty-style targets
Historic exploration modelling and work confirmed by AUH geologists suggest potential for a large gold Au system at Sulphide Creek project.
Opportunity to develop compelling model for high grade antimony targets with modern exploration techniques

SULPHIDE CREEK PROJECT

Project is 5km south of Queenstown mining centre and Mount Lyell Mine – good access to road, power, water and workforce
Granted tenure (EL16/2022) covering 224km² located dominantly within crown land or timber production zone – good land access

Multiple Target areas: Rinadeena (Sb)

Coupon (Au)

24-28 Anomaly (Au)

Davie (Au) and Davie PA (Au)

Project lies on western margin of the Mount Read Volcanics within the Dundas stratotectonic element, with lower greenschist metamorphism and deformation linked to the Devono-Carboniferous Tabberabberan Orogeny.
The geology consists of three structurally bound zones:
> Western half: Ordovician–Devonian marine clastics, divided by the N-S striking Harvey Creek Fault (HCF).
> Northeast: Similar clastics with substantial Gordon Limestone thicknesses east of the HCF.
> Southeast: Cambrian Tyndall Group volcano clastics fault-bounded and unconformably overlain by Ordovician Gordon Limestone, juxtaposed with Cambro-Ordovician clastics and conglomerates.
Main target area is transected by the HCF and related secondary structures. Gold mineralisation is low-grade, structurally controlled and hosted in gold-arsenopyrite-pyrite quartz vein stockworks within Lower Ordovician Rinadeena Formation siliciclastics near the HCF.
Mineralisation is associated with significant silica and sericite alteration. Geological interpretation remains uncertain, and historical exploration may have been ineffective.

Only historic antimony occurrence recorded by Geological Survey of Tasmania that is accessible. Ore samples collected and stored by the Geological Survey of Tasmania.
Antimony is on the critical mineral lists of many countries including; Australia, the USA, Canada, Japan and the EU due to its defence and military applications.
Reported from workings (1906-1907) of very high grade – ranging from 50 to 70% Sb in stibnite (and 5 to 9 g/t Au) in lode-hosted 6m width structure along slate and quartzite contact.
Tasmanian Geological Survey reports assays taken from Mines Inspector reported to contain upto 66.57% Sb and 1.05% Pb.
The Rinadeena Formation is lithologically, structurally and stratigraphically equivalent to the host rocks of the million-ounce Beaconsfield deposit in Victoria.
Records suggest 41m horizontal adit, from a 4m vertical shaft (no production records available).
Prospect has had no modern exploration – discovery potential exists with modern exploration techniques.

Reported at least six tunnels plus shafts and winzes were developed historically into gold-bearing limonitic zones. Production records in 1913 indicate 32t of ore was extracted at recovered grade of 12 g/t Au.
Comprehensive channel sampling returned several significant gold zones including; 5m at 5.76 g/t Au, 8 m at 2.32 g/t Au, 25m at 2.00 g/t Au and 10m at 1.45 g/t Au. (Perilya, 1991)
Historic Au-As anomalism in soils extends ~400m by 50m outside current known workings, not as yet tested.
Previous drilling at Coupon was limited and did not reach target, but one hole has recovered 24m @ 1.1 g/t Au from 16m (Cyprus, 1989).
Later drilling by Goldsteam in 1995 showed anomalous Au-As, but only one sample > 1 g/t Au.
Rock chip sampling along major east trending fault (which was not drilled) returned > 1 g/t Au along 100m strike. Goldsteam suggest early drilling potentially in the wrong direction (Goldsteam, 1995). Drillhole testing this new theory intersected 8m @ 1.24 g/t Au (from 70m).
No exploration testing of Coupon since 1995 – assessed as significant exploration opportunity for AUH.

Historic records suggest Davie PA (separate mining area 500m west of Davies) consisted of a 150m main drive developed on northerly-striking haematitic sandstone and gold-bearing agglomerate /breccia, with higher grade shoots in narrow westerly quartz reefs (14 to 150 g/t Au). Limited information and unexplored to date.
Records of the main Davie workings appeared to consist of several shafts and adits developed on quartz reefs which recorded 14 g/t gold at surface. Minor sericite is apparent locally and arsenopyrite and pyrite are disseminated throughout the sandstone below 75m.
Faulted Fe-rich breccia/veining identified at surface.
Surface sampling shows significant Au-As halo around previous working, with 400m by 100m in soils and grab samples up to 14 g/t Au (Cyprus, 1989).
Limited drilling at Davies Prospect has thick zone of low-grade mineralisation with 82m @ 0.4 g/t Au from 44m (SCDDH2) in vein stockwork system (Zinico NL, 2005).
Drilling by Shree (2010) identified more low-grade, but significantly thicker intersections, with significant sericite and pervasive silica alteration and FeO-Quartz stockwork veining.