Project

Mindax holds a 100% interest in a highly prospective gold project, the Meekathara North Project (tenement E51/1705), located in the Meekatharra region of Western Australia which is well known for significant gold discoveries. The project is located 40km north of the township of Meekatharra, at the northern end of the Meekatharra Greenstone Belt, in the Murchison Province, Western Australia.

Meekatharra is a long-established and well-known gold mining centre in the Murchison Goldfields. Numerous gold mines have operated in the local area, including Bluebird, Ingliston and the Paddy’s Flat mine. These historic operations produced more than 2.5 million ounces of gold.

Meekatharra North is located 2km from Andy Well along similar geological features. Discovered by Doray Minerals in 2010, Andy Well produced some 300,000 ounces between 2013 and 2017 and hosts a remaining underground resource of over 500,000oz of gold within 8.8 gram per tonne.

The Andy Well Gold Project was transitioned to care and maintenance during November 2017 and is currently for sale.

The Meekatharra North Project covers the confluence of numerous local and regional structures that are important to the localisation of gold in the Meekatharra area.

Previous exploration completed over the Meekatharra North Project has included geophysical surveys, geological and geophysical interpretations, surface geochemistry, petrology, air core (AC) and reverse circulation (RC) drilling. These exploration programs have demonstrated the potential for Andy Well-style mineralised structures extending southwards onto the Meekatharra North Project tenure.

Better results from drilling completed on the Meekatharra North Project to date include:

• 3 metres at 9.75g/t Au from 135m depth in MNC001
• 5 metres at 5.05g/t Au from 92m depth in MNA176
• 2 metres at 1.33g/t Au from 100m depth in MNA175
• 1 metre at 3.82g/t Au from 221m depth in MNC012
• 1 metre at 2.46g/t Au from 156m depth in MNC014

The drilling completed to date has successfully defined several narrow, high-grade, shear-hosted, gold mineralised zones at the Harp and Lute Prospects within the northern part of the tenement. The interpreted lithostratigraphic and structural setting of the mineralised zones appear analogous to those that host the significant gold resources at the Andy Well Gold Project immediately to the north.

Given the narrow, steeply dipping, and depletion of gold in the weathering profile, additional close spaced drilling is required to fully test the gold mineralised structures intersected at the Harp and Lute Prospects.

Several reviews and targeting exercises have been completed by consultants and Mindax geologists over the project area. These reviews have outlined several other high priority gold target areas, in addition to the Harp and Lute Prospects, that warrant further exploration.