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Aphrodite Gold Project

Western Australia

The Aphrodite Gold Project is located 65 kilometres north of Kalgoorlie in the Eastern Goldfields of Western Australia and has a long history of exploration and resource estimation by several parties dating from its discovery in the mid-1990s.

Figure 1: Location, Aphrodite and Mulwarrie Gold Projects in Western Australia

The Aphrodite Gold deposit is covered by five contiguous mining leases 100% owned by Aphrodite Gold, a subsidiary of Spitfire Materials Limited. All five tenements have been granted a 21-year life, with the earliest expiry date in 2028.

The Company also has been granted one exploration licence, two prospecting licences and three Miscellaneous Licences within proximity to the mining leases.

The Aphrodite mineralisation is situated in the Kalgoorlie Terrance of the Yilgarn Craton,and within the Bardon tectonic Zone – a high-straight zone in supracrustal rocks extending about 120km north of Kalgoorlie.

The world-renowned Golden Mile has produced over 50 million ounces of gold alone and KCGM’s Super Pit continues to produce about 800,000 ounces of gold each year.

Gold mineralisation within the Aphrodite Gold Project area was first discovered in 1996 when Goldfields Limited drill-tested a 1200 metre-long supergene gold anomaly identified during a calcrete sampling program the previous year. The first significant intersection returned from this drilling program was 10 metres at 8.6 grams per tonne (g/t) gold from within the area’s weathered bedrock (saprolite), above what was subsequently labelled the Alpha zone.

Subsequent drill programs testing the fresh rock mineralisation around the Alpha zone confirmed that the mineralisation at the Aphrodite Deposit was contained within two sub-parallel lode structures known as Alpha and Phi.