New Mineral Systems Identified – Mt Clement Project

Marquee Resources Limited (“Marquee” or “the Company”) (ASX:MQR) is excited to report that it has identified 3 new high-priority mineral targets at its Mt Clement Project. During reconnaissance field mapping, geologists have observed massive sulphides with portable-XRF (p-XRF) data showing highly anomalous base metal signatures with up to 10.2% Ni, 0.17% Co & 0.65% Cu identified in previously unmapped areas in the north of the Mt Clement Project. Additionally, the Company’s geologists have identified an extension to the Mt Clement Au-Sb deposit (ASX: BC8) with preliminary p-XRF data showing strong Au-Sb anomalism along strike from the Dugite Lode.

HIGHLIGHTS

• Field mapping identifies previously unrecognised polymetallic mineral systems as well as the extension to the Mt Clement Au-Sb deposit.
• Massive sulphides mapped at surface with preliminary portable-XRF analysis returning highly anomalous metal values up to 10.2% Nickel, 0.17% Cobalt, 699 g/t Gold, 1.6% Antimony, 0.65% Copper & 13.6% Lead.
• Anomalous p-XRF results from rock chip samples including:
  • 699 g/t Au (23WY0021) & 514 g/t Au (23WY0028) & 381 g/t Au (23WY0025)
  • 10.2% Ni (23WY0092)
  • 0.65% Cu (23WY0092)
  • 1.6% Sb (23WY0025A) & 1.2% Sb (23WY0024)
  • 13.6% Pb (23WY0024)
• 3 new, high-priority targets identified in addition to the extension to the Mt Clement Au-Sb deposit.
• Contractor engaged to complete aerial magnetic survey in October.
• Laboratory assays for rock chip samples expected in ~4-6 weeks.

Executive Chairman Comment:

Marquee Executive Chairman, Mr Charles Thomas, commented:

“Although early days, it’s obviously very exciting to identify massive sulphides and base metal mineralisation on virgin ground that has never been mapped or sampled before. The early results have certainly opened our eyes to the huge potential of the Mt Clement Project and we are going to expedite our exploration endeavors over the coming months, beginning with the acquisition of high-resolution magnetics and further sampling at Mt Edith North. The Ashburton Basin is one of the most underexplored regions in WA so we’re excited by the discovery potential across our significant land holding in the area.”

Figure 1: Mt Clement Targets Map

Exploration update

Recently, geologists completed a reconnaissance trip to the Mt Clement Project to determine access for future exploration endeavours, look for extensions to the Mt Clement deposit and visit target areas identified from desktop studies. Geologists collected 92 rock chip samples from outcrop which were logged and analysed with the p-XRF prior to submission to ALS Laboratories for full suite multi-element analysis. Visual observations and p-XRF data were combined to provide an early indicator on the style of potential mineralisation. P-XRF data indicates potential polymetallic mineralisation at the previously unrecognised areas at Mt Edith and Yandi Well targets and highlighting 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 with preliminary p-XRF results showing similar geochemical signatures. The metal associations observed in the p-XRF data 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.

While rock chip assays are outstanding (~4-6 weeks), the early observations have given the Company the confidence to plan further work which will include a 4,390 line-km, high-resolution aerial magnetic survey (Figure 3) and further, detailed mapping and sampling with a focus on the Mt Edith and Yandi Well targets.

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