Westminster Project

111,330 t

Orebody One historical (2011) MRE under JORC 2004

25.6 g/t Au

Historical (2011) Grade

91,750 oz

Historical (2011) Mineral Resource Estimate (MRE)

Four Targets

OB1, ST2, ST3, & ST4

Truscott is currently updating its Mineral Resource Estimate (MRE) for Orebody One under JORC 2012.

THE NEXT TENNANT CREEK MINE

■The distinctive Tennant Creek-style mineralisation – providing credits of gold, copper, bismuth, and iron.
■Orebody One: Historical Mineral Resource Estimate of 111,330 t @ 25.6 g/t Au for 91,750 oz (JORC 2004), using only 73 of the 167 intercepts (≥ 0.5 g/t Au) across Westminster.
■JORC 2012 compliant MRE update is in progress.
■Potential low-cost, near-term gold production in the Northern Territory, a Tier 1 mining jurisdiction.
■Long-term exploration potential.

Tennant Creek Mineral Field Central — Westminster project location, structural corridors and aeromagnetic intensity

Truscott's study area over the central Tennant Creek Mineral Field (TCMF), showing the structural geological interpretation on a total magnetic intensity (TMI) aeromagnetic image (Geoscience Australia, 2019). Warm colours represent a stronger magnetic signature.

STRUCTURALLY CONTROLLED MINERALISATION

■The 100%-owned Westminster Project sits within the Tennant Creek Mineral Field (TCMF).
■Westminster sits within a regional mineralisation distribution pattern that also hosts several historical mines.
■Truscott's research indicates mineralisation/orebodies across the TCMF are structurally controlled.
■Structural linkages at Westminster are components of the broader TCMF structural framework.
■The spatial pattern is visible in the aeromagnetic imagery below and reflects the structural controls on mineral deposit distribution.

$Tennant Creek Mineral Field Central — structural fractal interpretation with Westminster and historical mines over TMI aeromagnetic image$

RESOURCE EXTENSION POTENTIAL

■Mineralisation is concentrated within a dilation zone extending over 400 m within a structural corridor.
■Mineralisation remains open at depth and in multiple directions (Orebody Exploration Target One).
■Structurally focused geological modelling suggests the potential for multiple dilation zones across a central structural corridor, defining three structural targets.
■Further exploration potential: gold mineralisation extensions and resource growth across Westminster.

Westminster Structural Targeting map showing Orebody 1 and structural targets ST2, ST3, ST4 within the central structural corridor