Tombola Gold Ltd. ("Tombola" or the "Company") announced positive results from the first hole of a proposed five-hole diamond drilling program at Little Duke, within the highly prospective Golden Mile Complex in Cloncurry, Queensland. Drillhole LD22DD001 was proposed to test extensions to the south of the mineralisation intersected in previous drilling programs carried out at Little Duke in 2018-19. The most recent drilling program carried out at Little Duke was in 2019, with drill hole LD22DD001 drilled 40m south-west of LD19RD025 (68m (0-68m) @ 1.44 g/t Au; 0.53% Cu) and 20m south-west of LD19RC023 (40m (76-116m) @ 2.21 g/t Au; 0.40 % Cu), extending the trend of mineralisation to the south-west.

The aim of the drilling program was to test continuity of gold and copper mineralisation previously identified as well as testing geophysical VTEM and magnetics targets. Electromagnetic plate modelling was carried out by GeoDiscovery Group over portions of an earlier airborne (2015) VTEM survey in early 2019. Plate modelling suggested that the area around Little Duke consisted of several north-south trending basement conductors.

The drilling at Little Duke has been centered over one of these conductors (A). Host lithologies are a package of intercalated sub-vertical mafic volcanics and sediments (shales, siltstones and sandstones). The mineralised zones are interpreted to be structurally controlled sub-vertical shears that have focused fluids and are oriented in a north-west direction (i.e. oblique to the lithology).

The zones of mineralisation are predominantly composed of quartz-carbonate breccia with abundant pyrrhotite as stringers, veins, and massive sulphides. Copper (chalcopyrite) occurs as disseminated sulphide, veins, and blebs. There appears to be a correlation of copper and gold.

The main mineralised zone appears to be plunging to the south-east, although more drilling is required to confirm this. The mineralisation is interpreted to be an iron-sulphide (pyrrhotite-dominant) copper gold (ISCG) style with IOCG (magnetite) components, although petrography work is underway to confirm this. Zones of mineralisation consist of chalcopyrite (cpy) as disseminations, blebs and veins, within a quartz-carbonate breccia + magnetite and pyrrhotite.

The system is pyrrhotite (po) dominant, occurring as veins, disseminations and massive sulphides exhibiting ductile deformation of massive (pyrrhotite) sulphides. Further drilling is underway in the Little Duke area to gain a better geological understanding on the distribution of these structurally controlled massive sulphide zones and the +/- copper +/- gold association. A geophysical IP survey is planned to commence at the end of July 2022 to delineate additional targets for drilling.

The area to be covered by the IP survey is extending north and south of Little Duke, covering an area of approximately 4 kms north-south by 1.2 kms east west. Petrography studies are also underway with results expected in early August 2022.