Petratherm Limited announced results from regional and infill drilling campaigns completed during November and December 2021 has upgraded and expanded two gold anomalies. At Target 14 Prospect initial reconnaissance style drilling identified a mineralised gold envelope within weathered basement and is open in multiple directions and at depth. Follow up
additional shallow RAB sampling at Anomaly A has confirmed highly anomalous gold and is open in multiple directions. A summary of key findings is presented below. Target 14: At Target 14, 18 angled air core /RC drill holes for a total of 1,061 metres were completed in December 2021. Average hole depth was 60 metres (down hole), with holes at an 80-metre spacing. The prospect is blanketed by 10 to 20 metres of transported cover sediment, before passing into the weathered basement saprolitic profile, with fresher basement rock starting from approximately 40 metres down hole depth. A widespread anomalous gold blanket has
been defined across the drill area. Drill hole 21T14RC05 located on the northern edge of the grid returned the highest level of gold anomalism recording: 20 metres @ 0.13 g/t Au from 16 to 36 metres (down hole). The drill intersection forms part of a broader zoned system, which is open to the north-northeast, and at depth to the south-southwest. The diagrams show a zoned gold anomalism exists providing a vector towards better mineralisation. An outer yellow shell being between 10-15 ppb Au and the second deeper gold shell ranging from 50 to 100 ppb Au is displayed. Additional follow up holes are planned to evaluate if the gold zone
encountered marks the edge of potentially more significant mineralisation. Anomaly A: The gold in saprolite anomaly. In December shallow vertical RAB Infill
drilling was completed on a 100-metre spaced grid around the single point gold anomaly (original sample returned 3 metres @17 ppb Au from 18-21 metres) as part of a much larger regional and infill sampling program. The infill RAB sampling has both upgraded and expanded the anomaly returning sample results of: Drill Hole 737 ­ 3 metres @ 23 ppb Au, from 24 metres; Drill Hole 738 ­ 4 metres @ 23 ppb Au, from 23 metres; Drill Hole 733 ­ 8 metres @ 9.5 ppb Au, from 21 metres; Drill Hole 736 ­ 3 metres @ 9 ppb Au, from 18 metres.
The multi-point anomaly is coherent, extends over 200 metres and is open along trend. Additional shallow RAB
sampling will now be undertaken to map the extent of this anomaly before drill testing. Significant gold occurrences
in the region such as the Challenger gold deposit (1.1 Moz @ 5.1g/t) and the recent high-grade Aurora Tank Gold
discovery, form discrete, steeply inclined gold shoots. The near surface gold dispersion haloes preserved in
the weathered basement at the top of these shoots typically have a small surrounding footprint. The
anomalies encountered at both Target 14 and Anomaly A are consistent with this style of mineralisation and further
drill test work is warranted.
The Company will undertake infill shallow RAB drilling at both Target 14 and Prospect A as soon as rig becomes
available, which at this stage is likely to be at the end of February. In addition to these infill works, RC Drill testing of
the Comet Gold shoot which features historic gold intercepts of up to 6.97 g/t Au
is scheduled to start from late February. The RC drilling will test shoot positions along trend and at both shallower and
deeper extensions to that currently known.