Operations

North Laverton Gold Project

Bullseye’s North Laverton Gold Project consists of 36 exploration licences (including five applications) and four mining licences covering the majority of the Dingo Range greenstone belt with more than 800km² of tenure and has the potential to host multiple standalone deposits or satellite deposits to supply additional ore to a central mill. This includes the gold mineralised prospects of Boundary, Neptune, Stirling, Hurleys and Bungarra extending over 6.4km of prospective greenstone belt.

Current and historical drilling results continue to demonstrate the continuity of mineralisation at depth and along strike.

As at 31 December 2023, 339 collars (43,327m) of the 98,000m resource definition program has been completed of which 137 collars (27,855m) has been since Emerald acquired a controlling interest in Bullseye. Assays for more than 2,000m of drilling are pending.

Initial drilling has focussed on the Boundary and Neptune prospects of the Boundary-Bungarra mineralised trend.

Recently returned results are from the current RC and diamond drilling program targeting the  Boundary and Neptune Prospects include:

• 24m @ 3.04g/t Au from 64m (RC23BDY069);
• 20m @ 3.68g/t Au from 244m (RC23BDY081);
• 19m @ 2.45g/t Au from 72m (RC23STI012);
• 8m @ 3.44g/t Au from 202m (RC23BGA013);
• 10m @ 3.94g/t Au from 142m (RC23NPT054); and
• 17m @ 2.13g/t Au from 35m (RCDD23HUR001).

This wide, high-grade zone of mineralisation has a northly plunge and confirms the continuity of the mineralisation at depth. The area north of these intercepts is untested, further drilling has been planned to further explore along strike. Results from drilling to date, continue to delineate mineralised high-grade structures. Historically, drilling has only tested to ~120m vertical depth (average). Mineralisation remains open at depth and along strike across all prospects.

These results have given Emerald the confidence to accelerate the exploration program by increasing drilling capacity to generate an updated resource and reserve expected early in 2024 with the goal of commencing development activities late in 2024.

North Laverton – Tenement Map with the prospect locations