Dundas Minerals Limited is actively exploring for nickel, copper and gold in the prospective Albany-Fraser Orogen, Western Australia. Central exploration target: Drill hole 22CEDD004 Zones of sulphides (pyrrhotite, pyrite and chalcopyrite) have been intercepted in diamond drill hole 22CEDD004 (Hole 4) at the Company's Central exploration target. The zones include: a continuous 10.25m intercept (534.85m ­ 545.1m) of semi-massive pyrrhotite (40% visual volume estimate), disseminated pyrite (10% visual volume estimate) and trace chalcopyrite within a logged graphite schist; 6.6m of highly disseminated sulphides (pyrrhotite and pyrite) in five intervals ranging from 0.39m to 2.9m (174.8m ­ 547.8m); and
79.9m of disseminated sulphide (pyrite) at various intervals (81m ­ 534.9m). Hole 4 was terminated at 552.5m after the end of the semi-massive pyrrhotite intersection and has now been cased in preparation for a downhole electromagnetic (DHEM) survey. Drill core from the hole will be transported to Kalgoorlie this week for cutting, sampling and assay submission. Assay results are expected in late January 2023. The volume of sulphides logged in Hole 4, especially the 10.25m zone of semi-massive pyrrhotite (which is highly conductive) is encouraging and provides further support of abundant sulphides within a hydrothermal mineral system at the Central exploration target. In addition, at this stage it is thought that the sulphides and graphite contained in the intersections in Hole 4 are of insufficient volume (visual estimates) to cause the low resistivity /high conductivity audiomagnetotellurics (AMT) modelled anomaly. Data from the pending DHEM surveys of Hole 2 and Hole 4, combined with three-dimensional (3D) modelling will be used to determine if this is the case. An additional drill hole to further test the AMT anomaly will be planned for January 2023. This drill hole would be 50% co-funded to a maximum of $110,000 by the Western Australian Government under its Exploration Incentive Scheme (EIS). DHEM Surveys: Electromagnetic survey contractor Vortex Geophysics Pty Ltd. (Vortex) mobilised to site on Saturday 10 December 2022. The plan is for Vortex to complete four (4) DHEM surveys, one survey in Hole 2 (22CEDD002), one survey in Hole 4 (22CEDD004), and two surveys in Hole 3 (22CEDD0003). The aim of the DHEM surveys is to locate off-hole conductors that may represent potential future drill targets. Data from the DHEM surveys will be used in conjunction with existing magnetic, gravity and AMT data to design Hole 6 (22CEDD006), which subject to the results from the DHEM surveys and modelling would further test the AMT anomaly near holes 2 and 4. Diamond Drill Hole 5 (22CEDD005): The fifth diamond drill hole at Central has commenced. The hole is located approximately 150m northwest of Hole 1 (22CEDD001). The hole is targeting a gravity and magnetic anomaly that is interpreted as a mafic /ultramafic intrusion. The hole has a planned depth of ~350m and is currently at ~150m. The hole is expected to be completed this coming weekend, after which the drilling and support crews will demobilise for the Christmas /New Year period.