Metal Bank Limited provided an update on the exploration program at its Eidsvold intrusion related gold project in Southeast Queensland. An eight-hole drilling program has been completed including the drilling of two holes as the maiden testing of the large 7km2 blind, conceptual Great Eastern Target located 6 km northeast of the 100,000 oz Au Eidsvold Goldfield. These drill holes were completed to fulfill the Queensland Government Collaborative Exploration Incentive (CEI) drilling initiative awarded to MBK in 2020 1. The aim of the CEI funded drilling was to determine if the large target area is hydrothermally altered, consistent with IRG mineralized systems and supported by multiple surface and geophysical evaluations 2, or a large unaltered intrusive plug. Additional drilling was completed at Mt Brady Target for three drill holes and an initial evaluation of the Forty Horse Target with three drill holes. The Great Eastern Target drilling has exceeded expectations and successfully identified peripheral alteration which represents the potential presence of a late-stage Cu-Au IRGS hydrothermal system. The source of the system is interpreted to be centered 1 km to the west of the completed drill holes and which overprints an early weakly mineralized Cu-Mo style porphyry system. This interpretation is based on vein styles, alteration intensities, petrological analysis, pathfinder geochemistry of drill core and reinterpretation of airborne magnetic geophysics. Additional drilling is planned to investigate the refined target area which is expected to be significantly closer to surface (<150m) than the drilling completed to date. The two drill holes completed at the Great Eastern Target for 991.9m intersected intrusives which are part of the Eidsvold Intrusive Complex. A third drill hole was abandoned due to drilling conditions in overlying sediment. The drill program resulted in a combined 136.9m of drill core from within the intrusive over the two drill holes. The overlying sediment was considerably deeper than geophysical modelling had indicated. GET002 drilled through 396m of overlying sediment and then intrusive until 475.5m for a total of 79.5m of intrusive tested. GET003 drilled through 459m of sediment and then intrusive until 516.4m for a total of 57.4m of intrusive tested. While individual sporadic 1m interval results in the intrusives intersected up to 0.13% Cu and 0.43 g/t Au, within broad zones of weakly elevated Au and Cu representing the early phase intrusion, there is strong technical support for a later stage potential Cu-Au IRG system being located 1km further to the west of the initial drilling. This interpretation is supported by detailed logging of drill core, petrological and geochemical studies and additional airborne magnetics modelling. Significant findings from the program include: Establishing that the Great Eastern Target represents a very large hydrothermal system with two main hydrothermal events. Identification of an early event located as the main center of the target with: weak Cu-Mo porphyry style mineralization over the central portion of the target; and potassic altered, sulphide bearing demagnetized central zone due to hydrothermal destruction of magnetite. A later event potentially located 1km to the west defined by: pervasive overprinting alteration and veining with a marked increase of intensity towards the west; petrology consistently identified discreet and pervasive overprinting alteration which is interpreted to be part of a more penetrative and broader alteration system from a later source and not in isolation; petrology also confirming an association with magnetite destruction; presence of characteristic cross cutting phyllic alteration and vein sequence of quartz-pyrite±Cu±Au to later quartz-carbonate-sericite- clay-sulphide ±Ag±As±Sb; broad 45m interval of 222 ppm As (up to 0.3%) with elevated Sb (up to 30ppm) in GET002, signifying a very distal geochemical zonation to a second hydrothermal system; and reinterpretation of airborne magnetics defining a broad 2 km diameter refined target area to the west, where the magnetized hornfelsed margin of the earlier event has been destroyed by hydrothermal alteration from the later event. Confirmation of the depth of and dip of the contact between the intrusive and overlying sediment indicating a depth of overlying sediment of <150m in the refined target area. Three drill holes were completed at Mt Brady. Drilling beneath previous results of 1m@ 17.4 g/t Au and 2.5% Cu 3 returned a discreet zone of sub-economic, elevated Au and Cu mineralisation. It appears the mineralisation pinches out at depth. Additional testing 400m to the southwest beneath historical workings returned up to 1m @ 0.9 g/t Au from 57m. At the blind Forty Horse target, located directly along strike from the 100,000 oz Au historical Eidsvold Goldfield, the initial drilling intersected weak pathfinder geochemistry in FHRC002. MBK has two exciting gold projects in South East Queensland - 8 Mile and Eidsvold. The projects are both associated with historical goldfields and represent intrusion related gold systems (IRGS) with multi-million-ounce upside. Both projects are located in the northern New England Fold Belt of central Queensland, which also hosts the Cracow (3 Moz Au), Mt Rawdon (2 Moz Au), Mt Morgan (8 Moz Au, 0.4 Mt Cu) and Gympie (5 Moz Au) gold deposits.