Western Australia

Nepean West Gold Project, Western Australia (Alliance 100%)

The Nepean West Project is located within the Coolgardie Domain of the Kalgoorlie Terrane in the Eastern Goldfields, 25 km southwest of Coolgardie and 60 km southwest of Kalgoorlie in Western Australia and is prospective for gold deposits.

Alliance has two priority gold exploration target areas, the Hawkesbury Prospect and the Penrith Prospect.

Location of Nepean West Project

Hawkesbury Prospect

In March 2020, Alliance completed a 250 sample auger soil program to extend previously defined gold in soil anomalism. Sampling was completed using a 100 metre by 200 metre spaced grid.

The results from this soil sampling program have more than doubled the size of the gold in soil anomaly (+7.5 ppb Au threshold), which now covers a 4.5 square kilometre area (refer to Alliance ASX Announcement dated 8 May 2020).

Hawkesbury Prospect: Gold in auger soil results

Penrith Prospect

The Penrith Prospect is a conceptual structural gold target defined in aeromagnetic imagery by a sigmoidal flexure in the Burra Monzogranite granite-greenstone contact, which is associated with several discrete high-magnetic anomalies, and cross-cutting faults.

The sigmoidal flexure, associated with rheology contrasts between the granite-greenstone contact, and cross-cutting faults creates a structurally complex area with dilatational locations for hydrothermal fluid flow and mineral deposition.

The high-magnetic anomalies may be associated with either iron-rich lithology (dolerite or ultramafic) or magnetite alteration. Iron-rich lithologies are the most favourable host rocks for gold deposits in the Eastern Goldfields, whereas magnetite alteration indicates strong hydrothermal fluid flow and is concentrated in some gold deposits.

These conceptual observations are supported by a large (~10km x ~1.5km) low-level (>5ppb Au) gold in soil anomaly that occurs down-drainage (off tenement to the northeast) and has not been adequately explained by historic drilling.

Penrith Prospect: Conceptual structural target area on an aeromagnetic image with historic drilling

Exploration

Aboriginal heritage surveys were completed at the Hawkesbury and Penrith prospects during 2021 to provide access for regional aircore drilling to test for gold in regolith anomalism, which can be used as a vector towards a primary gold deposit.

Kalgoorlie South Project, Western Australia (Alliance 100%)

The Kalgoorlie South Project straddles the Ora Banda and Kambalda domains of the Kalgoorlie Terrane in the Eastern Goldfields, 15 km south of Kalgoorlie in Western Australia and is prospective for gold deposits.

A high-resolution aeromagnetic survey was flown over the northern half of the project area in late 2021 to identify conceptual structural targets for drill testing.

Location of Kalgoorlie South Project