Sensore Receives Exploration Incentive Scheme Funds

SensOre Limited (ASX:S3N) (‘S3N’ or the Company) is pleased to announce the success of both applications for EIS funding from the government of Western Australia in Round 27. EIS funding can be used to support drilling on new targets that have the potential to add value to the state by opening up new areas for exploration. SensOre’s Moonera and Auralia projects are early stage, greenfield projects in Western Australia’s Madura Province and the deployment of AI approaches to targeting undercover hold potential to unlock value in these regions.

Highlights

• SensOre has been successful again in the Western Australian Government’s Exploration Incentive Scheme (EIS) funding round which was announced on 24 April 2023
• SensOre submitted applications for the Moonera Project (SensOre earning 80%/ Nullabor 20%) and the Auralia Project (SensOre earning 70% and Chalice (ASX:CHN) 30%)
• Both EIS applications were successful, highlighting the quality of targets generated by SensOre’s AI technology and its potential to open up new prospective areas for exploration in the state
• Total funding available through the successful applications is $350,000 ($150,000 for RC drilling at Auralia and $200,000 for diamond drilling on Moonera)

Figure 1: SensOre’s Base Metals Projects – Western Australia

Moonera Overview

The Moonera prospect is a large, circular (7x5km) dense and magnetic geophysical feature located on a major structural dislocation visible in the Madura Province in Western Australia’s magnetic and gravity data. The Madura province, east of the Fraser Ranger province is a newly emerging frontier exploration region that has complex and interesting basement geology beneathextensive cover rocks. The location of the project in relation to the regional geophysics is presented on figure 1.

SensOre’s interpretation is that Moonera is a pipe-like, multiphase, altered intrusive with associated iron-rich magnetic alteration and metasomatism surrounding a central dense central body. The target’s geophysical signature was interpreted as demonstrating characteristics of a carbonatite, IOCG or porphyry type system which gives the target outsized potential if mineralised. The first successful drill hole to test the target was completed in July 2022, with assistance from EIS funding. The drilling encountered a granite and intermediate igneous complex in the basement from 458m depth. Magnetite, hematite, albite, sericite, chlorite and epidote alteration combined with fertility indicators from whole rock geochemistry are indicative of signatures commonly associated with Magmatic Hydrothermal IOCG’s (MH IOCG), alkaline Porphyry and Cu Au breccia mineral systems. All of these deposit styles have been associated with world class deposits.

Figure 2: 22MEDD001 hematite, albite, sericite, chlorite, epidote, and pyrite alteration in syenogranite at 621.6m

Moonera is one of the first of SensOre’s next generation base-metals targets resulting from an expanded application of DPT on its proprietary hyperdimensional data cube combined with new geochemical and geophysical tools. SensOre’s technology has great potential to improve discovery rates for rare earth, battery and critical minerals. Moonera is a joint venture with private company Nullabor Resources Pty Ltd. SensOre through its 100% subsidiary SensOre Yilgarn Ventures Pty Ltd can earn up to an 80% interest in the prospect by expending$3 million within three years.

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