Georgetown Copper-Gold Project, Australia

The Georgetown Project comprises three approved exploration permits (100% Rugby) covering 849 square kilometers, located in Queensland, Australia. The project covers a large underexplored land position in a very favourable environment to host gold, silver, copper, lead, zinc, tin and potentially lithium deposits. Little systematic modern exploration has been done and given the abundance of mineral occurrences and the area's structural complexity, the project contains significant exploration potential.

Georgetown regional geology

Highlights

  • Porphyry copper target at Fiery Creek defined by a large circular magnetic anomaly and associated copper occurrences

  • Significant historical bullion production recorded from numerous gold mines at Georgetown, with visible gold in pan concentrate and a 6 gram gold nugget discovered at Camp Oven Creek

  • At Perpendicular Peak, high-grade silver and gold targets were identified at the Snake Creek and Munitions Creek prospects

  • Processed Landsat imagery identified numerous potential alteration zones

  • The Georgetown region was identified for its lithium potential by the Queensland Department of Natural Resources and Mines

  • EMU NL (“EMU”) (ASX: EMU) has the right to earn up to an 80% interest in 3 exploration permits under a Heads of Agreement and Joint Venture Agreement with Rugby (https://www.rugbyresourcesltd.com/s/RUG-FS-Q3-2024_Final-76tt.pdf)

The region has had a long history of mining, particularly gold, with over 1,000 mines, prospects and mineral occurrences identified within the district, including Kidston, one of Australia’s largest historical gold producers. The Kidston gold mine operated from 1985 to 2001 and produced 5.1Moz (145 tonnes) of gold. Georgetown lies in the Proterozoic Etheridge Province of the North Australian Craton. Plutonic, intrusion related and epithermal styles of mineralization have been identified in this region.

Georgetown Project location

Recent exploration by EMU has located significant copper and gold mineralization in a number of higher-priority prospects.  Visible gold in pan concentrate (Figure 1) and a 6 gram crystalline gold nugget (Figure 2) discovered at Camp Oven Creek Prospect (“Camp Oven”)  and at the Fiery Creek Copper Prospect (“Fiery Creek”)  surface rock assay results report up to 23.5% copper (Figure 3).

TMI aeromagnetics showing the location of Fiery Creek within a pronounced circular anomaly

Figure 3. Sample ESS02494 (460 ppm Ag, 1.25% Ba, 23.51% Cu, 14ppm In). Black tenorite (CuO) and dark grey chalcocite (Cu2S) replaced at its margins by crystalline fibrous malachite and minor chrysocolla.

EMU’s field teams are currently conducting a soil, rock and termite geochemical sampling program. LIDAR and photogrammetry drone survey has been completed to provide high resolution topographical and photographic definition of structural settings will also improve access route and drill planning. A geophysics survey (including pole dipole, IP, resistivity and MT) scheduled to commence August 2024 and is expediting accesses for a drill program at Fiery Creek following interpretation and vectoring from geophysics results.

Paul Joyce, COO and a “qualified person” within the definition of that term in NI 43-101, has supervised the preparation of the technical information contained in this presentation. Some of the information presented is historical in nature and the Company will be required to do further assessment of this data. Certain information contained herein can be considered forward looking. Read the Cautionary Statement.