Completion of Magnetic & Radiometric Survey Mount Clement Project

Marquee Resources Limited (“Marquee” or “Company”) (ASX:MQR) is pleased to provide an update to the market regarding the ongoing exploration activities at the Mt Clement Project (“Mt Clement” or “Project”), following the identification of high-priority, polymetallic mineral targets (Refer ASX Release dated 12 Sept 2023).

Thomsons Aviation has completed a 4,394 line-km aerial magnetic and radiometric survey over the Project extents. The high-resolution survey will provide further detail on the controls on newly identified polymetallic mineral systems identified over the project area. Data processing is currently underway with the high-resolution imagery to be used in target identification for future work programs.

Rock chip samples from a recently completed a reconnaissance trip to the Mt Clement Project have also been returned and have confirmed areas of geochemical anomalism. Geologists collected 92 rock chip samples from outcrop which were logged and submitted to ALS Laboratories for full suite multi-element analysis. The rock chip samples indicate potential polymetallic mineralisation at the previously unrecognised areas at Mt Edith and Yandi Well targets and highlight the potential for exploration success over the broader Mt Clement Project area. Mineralisation at the Mt Clement deposit (ASX:BC8) consists of economic quantities of gold (Au), copper (Cu), antimony (Sb), silver (Ag) and lead (Pb). High arsenic (As) content is also a key indicator of Mt Clement style mineralisation with arsenopyrite a key ore mineral. The Company has identified what it interprets to be the along strike extension of the Mt Clement deposit. The metal associations observed from the Mt Edith and Yandi well targets differ with appreciable amounts of nickel (Ni), cobalt (Co) and copper (Cu) present, and a relative lack of antimony and arsenic. The preliminary results suggest similar, but different, polymetallic mineral systems across the property, however due to the early-stage nature of exploration, further work is required to fully understand the mineralogy and chemistry of the occurrences.

Executive Chairman Comment:

Marquee Executive Chairman, Mr Charles Thomas, commented:

"There is a significant opportunity that presents to us at Mount Clement given the prospectivity that the Project has shown to date. To truly unlock the potential, the Board and Company geologists have decided on adopting an aggressive exploration strategy at the Project.”

"This survey is not just another step in our exploration process. We see it as a pivotal mechanism to accelerate our next phase of exploration activities. This survey was not just about speeding up exploration but also about increasing our chances of success at the Mount Clement Project."

One of the primary aims of this survey was to enhance Marquee's comprehension of the Mount Clement region. The recent field mapping that was executed has provided us with valuable insight and with the aid of this survey, we will bolster our understanding of the Project even further.”

"Marquee has ambitious plans set for the Mount Clement Project. A maiden drill campaign is on our agenda, which we are planning to conduct early in 2024. We eagerly await the final data from the magnetic and radiometric survey, which is due next month. This data will be crucial in enabling us to delineate our drill targets more accurately for the forthcoming drill program in 2024."

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