The Zanex prospect is the most westerly located of the 5 drill ready prospects identified in the project and lies entirely in Lake Lefroy. Over 20 years ago Cyprus Gold Australia Corporation intersected 6 metres at 2.87g/t Au whilst carrying out reconnaissance air core drilling. The intersection has never been followed up and is open along strike for some 800m to the north and south. Reinterpretation of the previous drill data defines a subtle gold (plus 100ppb) trend of at least 2km. This intersection should be considered in the context of the recent Baloo discovery by S2 Resources in Lake Cowan, 60km to the south, which highlights the limited geochemical footprint of the gold system in the regolith and demonstrates that single wide spaced drill hole intersections require follow up.

This anomaly, generated at Zanex some 20 years ago, is also significant when placed in context with the discovery of Invincible at St Ives located in Lake Lefroy, 18km to the west. Invincible was a subtle (100ppb) gold in air core anomaly that was generated in the mid-1990’s but overlooked at the time.

Given the prospect is entirely within Lake Lefroy, the initial exploration plan is to conduct detailed ground geophysical surveys over the target area.  The interpretation of this data along with assessment of the results of the previous exploration will be used the generate focussed targets for evaluation by air core drilling.  This will require the services of a specialist drill rig that can operate in this environment.  The immediate target to follow up is the key historical intersection of 6m at 2.87 g/t Au which requires a closer spaced drill pattern.

Zanex Prospect – Aeromagnetic Image and Drill Hole Location