Geophysical Survey Identify Five IP Anomalies on a Granted Mining Lease.

Highlights

• Pole Dipole Induced Polarisation has delineated five new chargeability high anomalies over the Empire North and Empire South on ML20380. (Fig 1)
• The survey covered 13 lines over 19.7km using 50m & 100 dipole-dipole.
• The five new anomalies are characterised by high chargeability with associated structurally controlled resistivity low.
• Targets 1 and 2 appear to be close to surface and structurally controlled with chargeability high over some 400m. (Fig 3 & 4) with Target 1 appearing to dip to the northwest.
• Target 3,4 & Target 5 appear to be connected on an arcuate structure, some 800m in length. (Fig 5, 6 & 7)
• This is the first systematic IP survey over the Mining Lease. No part of the 5 anomalies has been drill tested to date.
• FNR is finalising a drilling plan for mid July 2024.
• The Mining Lease incorporates two breccia pipes with gold bearing epithermal quartz veins mantling the eastern flank totalling a JORC of 23,000Oz Au.

Empire Mining Lease IP Lines

Figure 1: Location of IP survey lines and target areas. Empire

The survey was designed to test first the extent of the porphyry discovered at depth beneath Empire North from the latest drilling by FNR. Secondly, to help delineate the area to the south over the copper gold projects that were highlighted by airborne magnetic survey and the recent rock chips reported in April (ASX Announcement 15/04/2024). The key focus of the PDIP survey was to better define the structural controls of the Mining Lease taking into consideration the magnetic low anomalies, the two breccia pipes and the historic mine shafts and pits at Empire South.

The survey data has confirmed three new large and two smaller chargeability anomalies associated with the magnetics (Fig 2) and has allowed FNR’s technical team to locate and plan new drill targets within the project area ahead of the planned drilling in July this year.

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