Mindax Limited announced that it has completed processing and interpretation for a sub-audio magnetic survey (SAM) at its Meekatharra Gold Project located approximately 40km north of Meekatharra, in the northern part of the Murchison Greenstone Belt of Western Australia. The SAM ground survey was previously completed in 2015 and has now been processed by Southern Geoscience Consultants (SGC). SGC has interpreted the new data and in combination with additional geological and drilling information has produced new geophysical targets.

The SAM geophysical survey has provided high-resolution mapping of the buried structures on the project area, which are potentially the controls on gold mineralisation. This information has provided a structural framework of the project area and combined with existing drilling results has identified several target areas. The Department of Mines, Industry Regulation and Safety recently granted a five year extension of term over E51/1705.

The extension has been granted without increasing annual expenditure requirements. The Company completed an exploration drilling campaign in 2021, which focussed on the northern end of the tenement and tested several historical geophysical priority targets. Some of those targets are located along the southern structural corridors extrapolated from the Andy Well Gold Mine, located within 2km from the project area and within proximity to historic drilling.

This previous work returned significant gold intercepts. The 2021 exploration programme confirmed the presence of gold mineralisation that support the previous geophysical interpretation.