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ONGOING PROJECTS IN AUSTRALIA

AUSTRALIA

SolGold continues to hold tenements across central and southeast Queensland, through its wholly owned subsidiaries, Central Minerals and Acapulco Mining.

NORMANBY

In Australia, drill testing of porphyry style copper-gold mineralisation at the Normanby Project, in northern Queensland commenced in early July 2017. A total of 518m of RC drilling from 7 RC drill holes and 89.2m of diamond coring from 1 drill holes was completed at the time of writing.

A reassessment of the range of other projects held in Queensland resulted in definition of detailed work programs that will be put in place as exploration funds become available. Joint venture opportunities are being sought for these projects and it is pleasing to note that there has been much interest by junior exploration and mining companies. However, despite this interest, the continued challenging equities markets are making it difficult for companies to raise the exploration funds to complete joint venture deals and commence exploration.

The Group holds 6 major project areas in Queensland at Normanby, Rannes, Mt Perry, Cracow West, Westwood and Lonesome

PROJECT OVERVIEW

Location 120km north-west of Mackay, Queensland, Australia

Tenement area 171 granted sub-blocks (circa 550km²) and 100 application sub-blocks (circa 321km², primarily tenement consolidation areas).

Ownership 100%

Primary Targets Copper-gold porphyry deposits and batholith associated gold vein deposits

RANNES

SolGold’s principal targets at the Rannes project are structurally-controlled, low-sulphidation epithermal gold-silver deposits.

Thirteen prospects have been identified within the Permian-aged Camboon Volcanics, with the majority lying along north northwest trending fault zones. Exploration has included tenement wide stream sediment, soil and rock chip sampling surveys. A detailed airborne magnetic survey was recently re-interpreted to enhance the development of the structural model of the belt. Exploration methods have included a 3D IP (Induced Polarisation) survey, geological mapping, and trenching all contributing to definition of additional drill targets at several prospects. A total of 473 holes have been drilled at the Rannes project for a total of 58,887m. Most of this drilling has occurred at Kauffmans prospect (151 holes) and the Crunchie prospect (90 holes), while lower meterage drill programs have been conducted at the Shilo, Cracklin Rosie, Porcupine, Brother, Spring Creek and Police Camp Creek prospects. The geometry and nature of the Kauffmans and Crunchie systems are well understood.

PROJECT OVERVIEW

Location 140km west of Gladstone, Queensland, Australia

Tenement area 209 granted sub-blocks (circa 655km²) and 203 application sub-blocks (circa 651.5km², primarily tenement consolidation areas).

Ownership 100%

Primary Targets Disseminated and vein gold and silver deposits

MOUNT PERRY

The Mt Perry Goldfield is located four hours by road from Brisbae and is host to more than 60 named and numerous other unnamed historical mines and workings. The area lies adjacent to Evolution Mining Ltd’s 100,000 ounce per annum Mt Rawdon Gold Mine which lies at the intersection of two major geological fault structures; the Mt Bania and Darling Lineaments. Current published resources at Mt Rawdon stand at 36.7 million tonnes at 0.87g/t gold for 1 million ounces, and historical production has been approximately 1 million ounces. Exploration at Mt Perry has focussed along two mineralised structural zones (The Augustine-New Moonta trend and the Chinaman’s-Reagans trend. The structural orientations of these are similar to the major structures that host the Mt Rawdon gold mine.

PROJECT OVERVIEW

Location 130km north-west of Gympie, Queensland, Australia

Tenement area 89 granted sub-blocks (circa 277km²) and 103 application sub-blocks (circa 336km², primarily tenement consolidation areas).

Ownership 100%

Primary Targets High grade, lode gold deposits and possible gold porphyry deposits

CRACOW WEST

Cracow West is located 15km to the north-west of Evolution Mining Ltd’s Cracow gold mine (approximately 1.5 million ounces of gold).

Gold mineralisation at the mine is associated with Permian-aged, low-sulphidation, epithermal quartz veins which have been emplaced along north-west and north-northwest trending fault zones. SolGold’s initial exploration concept was to explore for a similar deposit to Cracow gold mine but a recent review of the regional geology suggests that the anomalism seen at Cracow West may be associated with a later phase of Triassic intrusions, suggesting a later mineralisation event.

SolGold’s exploration at Cracow West has included stream sediment, soil and rock chip sampling. This has identified three significant prospects; Dawson Park, Kambrook and Theodore Bends. A ‘SAM’ survey (sub-audio magnetotellurics) has also been completed over the Kambrook and Dawson Park prospect. This has identified a potential buried target at Dawson Park, which coincides with a distinct soil tellurium anomaly at surface.

PROJECT OVERVIEW

Location 260km west-north-west of Gympie, Queensland, Australia

Tenement area 47 granted sub-blocks (circa 146km²) and 30 application sub-blocks (circa 93.16km²)

Ownership 100%

Primary Targets Low-sulphidation epithermal Au-Ag deposits

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