Parkes JV

(Gold Fields 80%, Clancy 20%)

The Parkes project covers 474km2 of the highly prospective Northparkes Igneous Complex. Rio Tinto’s Northparkes copper-gold mine is located approximately 15km to the north of the Parkes project. One diamond hole was recently completed by Gold Fields at the MacGregors prospect, testing an orogenic gold target.

Results have been received and include the following intercept:
• 21m @ 0.49 g/t gold from 73m; including
o 2m @ 2.07 g/t gold from 81m.

Mineralisation is confined within a moderately east dipping basaltic/andesitic volcanic unit at the sheared contact with strongly phyllic altered andesite porphyry. The mineralisation is within quartz-carbonate-chlorite-pyrite-arsenopyrite stockwork veins. Follow-up drilling is planned.