WOYLA

COPPER GOLD PROJECT

Aceh, Indonesia

  • Sunda Magmatic Arc

  • 24,260 ha

  • Porphyry and Epithermal

RIGHT PLACE WITH THE RIGHT AGE AND THE RIGHT VEIN TEXTURES

  • Highly prospective 24,260-hectare 6th generation Contract of Work.

  • Previously explored by Barrick Gold (1996-1998) and then by Newcrest (1999-2002 who beat out competitor bids from Aurora Gold, Billiton and Western Mining).

  • More than 18,000m  of combined strike length of Au-Ag bearing low-sulphidationepithermal type quartz veins/breccia. Six defined prospect areas (2 new prospect areas discovered). Structurally-controlled.

  • Total of 133 holes drilled for 20,584m

  • 4,631m Phase 1 scout drill program at Anak Perak and Rek Rinti prospect areas completed

  • 10,789m Phase 2 drill program completed drill at Anak Perak, Rek Rinti and Aloe Eumpeuk prospect areas 

  • 2,156m Phase 2 sweet spot extended drill program at Rek Rinti completed.

  • 3,008m Phase 3 drill program – 1,124m Resource Delineation drilling at Rek Rinti completed and 1,884m scout drilling at Aloe Rek completed.

  • Identified porphyry targets remain untested with more detailed mapping to confirm drill targets.

  • Peak assays from diamond drill program of:

    • 81 g/t Au and 734 g/t Ag - Rek Rinti

    • 24.9 g/t Au and 42.5 g/t Ag – Anak Perak

    • 28.06 g/t Au and 1,359 g/t Ag – Aloe Eumpeuk

    • 38.16 g/t Au and 212.6 g/t Ag – Aloe Rek

  • Peak assays from rock grab samples of :

    • 131 g/t Au and 1,508 g/t Ag – Aloe Eumpeuk

    • 76 g/t Au and 78 g/t Ag - Aloe Rek

    • 98 g/t Au and 77 g/t Ag –  Kareung Reuboeh

FEG_Indo_Project-Woyla_V1.jpg

 “The Woyla Project represents one of the most prospective undrilled gold properties in Indonesia with potential for high-grade bonanza style epithermal-type veins and proximal porphyry and skarn-type copper-gold deposits.”

Anak Perak Prospect

Phase 1 Drilling Results: High Grade Gold Identified

  • Phase 1 scout drilling program comprised 33 diamond drillholes for a total of 4,640.9m.

  • Tested approximately 1.2km of the 4.7km Anak Perak system strike length and 4 of 8 identified veins at  Rek Rinti

  • Three 'Discovery' holes (APD011, RRD003 and RRD004) confirmed the potential for economic mineralisation.

Interpreted longitudinal section along portion of Anak Perak main zone showing interpreted trend of a high-grade zone. Phase 2 drillhole APD021 returned significant intercepts of 6.4m at 2.53 g/t Au and 5.6 g/t Ag from 38.2m including 1m at 12.09 g/t Au and 8.3 g/t Ag from 42.2m.

Assay results at Anak Perak (APD011) include :

  • APD011 - 10.75m @ 3.2 g/t Au, 10.4 g/t Ag (49.35 - 60.1m)  incl. 3.5m @ 7.8 g/t Au, 17.5 g/t Ag (50-53.5m)

Phase 2 drillhole APD021 confirmed continuation of the interpreted high-grade gold zone over a strike length of 100m which remains open to the north.

Map showing Phase 1 drill holes completed at Anak Perak.

Rek Rinti Prospect

Phase 1 Drilling Results – Bonanza Grades Identified

Assay results at Rek Rinti (RRD003) include:

  • 2m at 30.9 g/t Au, 18.9 g/t Ag from 191m - 193m, including:

  • 1 m at 59 g/t Au, 36.6 g/t Ag from 192m.

Assay results at Rek Rinti (RRD004) on a gold equivalent (AuEq) basis include:

  • 30m at 2.8 g/t Au & 49.7 g/t Ag (3.4 g/t AuEq) from 98m including;

  • 8.1m at 8.9 g/t AuEq (102.4 - 110.5m) and

  • 05.m at 78g/t Au & 631 g/t Ag (85.5 g/t AuEq) from 108.6m

Core photos from interval (106.7-114.5m) of high-grade Au and Ag in RRD004 containing disseminated electrum (TOP) and dark-grey Ag-bearing minerals (CENTER).  Segregation of ginguro banded quartz containing abundant disseminated dark-grey sulphides (BOTTOM).

Map showing Phase 1 and 2  drill holes (RRD/AGM) completed at Rek Rinti.  The interpreted east-west sigmoidal vein at AGAM may reflect a secondary structural control to high-grade mineralisation.  Detailed UAV magnetic/Lidar survey in progress to define potential structural controls

Phase 2 Drilling Program – Found The Sweet Spot at Rek Rinti

Phase 2 – Drill Program completed (10,789m). Drill results include:

  • AED002 – 3.9m @ 9.90 g/t AuEq. incl. 1m @ 34.7g/t AuEq (18.4 g/t Au & 1,359 g/t Ag)  

  • AED018 – 6.8m @ 3.5 g/t Au & 113.97 g/t Ag incl. 1m @ 19.52g/t AuEq (17.6 g/t Au & 160 g/t Ag)  

  • AGM007 – 5.3m @ 9.90 g/t AuEq (8.4 g/t Au & 99.8 g/t Ag) incl. 0.5m @ 89.8 g/t AuEq (81 g/t Au & 734 g/t Ag)

Approximately  half of the assays for drill holes in Phase 2 have returned intercepts of good to high-grade gold.

Drillholes RRD019 and RRD020 intersecting 34.7m and 38.1m zones of high-grade gold containing  locally massive multiphase quartz veins and stockwork quartz veins. Peak assays of 1m at 9.21g/t Au, 96.0g/t Ag (10.4g/t AuEq) in RRD020. Phase 2 results are a great start considering only 2.5km of 13km strike length tested and only 6 of 12 identified vein systems in Woyla have been tested.

Core specimens from drillhole AED002 shows occurrence of dark-grey ginguro bands with fine-grain electrum and sulphide minerals.  Photo A-75.7m, B-75.9m, C-78.6m. Assays of, 1m @ 18.4 g/t Au & 1,359 g/t Ag (34.7 g/t AuEq) from 75.4m – 76.4m and 1m @ 12.9 g/t Au & 625 g/t Ag (20.4 g/t AuEq) from 78.5m – 79.5m

Plan map showing the interpreted surface extent of the Aloe Eumpeuk veins and high-grade zone within the Mueh vein.  Zone remains open to south and to depth.

Phase 2 Extended Drilling Program – Confirmed The High-Grade Continuation

Phase 2 Extended – Drill Program completed (2,156m).  Drill results include:

  • RRD027 – 1.7m @ 5.39 g/t AuEq. incl. 0.4m @ 17.23g/t AuEq (15.93 g/t Au & 108 g/t Ag)  

  • RRD028 – 14.6m @ 2.1 g/t AuEq incl. 2.2m @ 17.93g/t AuEq and incl. 0.7m @ 15.32g/t AuEq (14.27 g/t Au & 87 g/t Ag)  

  • RRD034 – 5.9m @ 6.35 g/t AuEq incl. 0.9m @ 34.06 g/t AuEq (32.65 g/t Au & 117 g/t Ag)

  • RRD034R – 25.8m @ 3.89 g/t AuEq incl. 5.2m @ 7.67 g/t AuEq and incl. 0.9m @ 15.35g/t AuEq (8.4 g/t Au & 579 g/t Ag)  

Phase 3 Drill Program– Detailed Resource Delineation Drilling

Aloe Rek Prospect

Phase 3 Drill Program– Scout Drilling at Victory Vein in Aloe Rek

Highest individual sample assay of 3.3m @ 31.64 g/t Au, 26.8 g/t Ag (31.96 g/t AuEq) from 75.8m – 79m from ARD009.

ARD001 SIGNIFICANT ASSAYS:

  • 5m @ 2.36 g/t Au, 10 g/t Ag (2.48 g/t AuEq) from 46m - 51m, including:

    • 0.5m @ 15.91 g/t Au, 69 g/t Ag (16.74 g/t AuEq)

  • 12.4m @ 5.59 g/t Au, 25.3 g/t Ag (5.89 g/t AuEq) from 82.3m - 94.7m, including:

    • 9.7m @ 7.06 g/t Au, 31.67 g/t Ag (7.44 g/t AuEq)

  • 4m @ 11.83 g/t Au, 33.56 g/t Ag (12.23 g/t AuEq) from 85.5m - 89.5m

  • 0.8m @ 3.58 g/t Au, 8.85 g/t Ag (3.69 g/t AuEq) from 123m - 123.8m, including:

    • 0.4m @ 6.79 g/t Au, 10.9 g/t Ag (6.92 g/t AuEq)

Satellite image of the Aloe Rek prospect area showing the locations of proposed drill holes and the Au assays from collected vein samples.

Aloe Rek Significant Assays Continued

  • Deposit remains open at depth and along strike to the South.

  • Grab samples taken from exposed vein about 600m to the south of the drilled holes along strike of the Victory vein returned assays of 15.6 g/t Au and 25.8 g/t Ag indicating the possibility for further high-grade gold extensions to the South.

ARD-003:

  • 3.4m @ 6.68 g/t Au, 7.81 g/t Ag (6.77 g/t AuEq) from 68.5m to 71.9m, including:

    • 0.7m @ 30.05 g/t Au, 21.9 g/t Ag (30.31 g/t AuEq) from 70.2m to 70.9m

  • 0.8m @ 3.58 g/t Au, 8.85 g/t Ag (3.69 g/t AuEq) from 123m - 123.8m, including:

    • 0.4m @ 6.79 g/t Au, 10.9 g/t Ag (6.92 g/t AuEq) from 123m – 123.4m

ARD-007:

  • 20m @ 7.57 g/t Au, 8.5 g/t Ag (7.67 g/t AuEq) from 67.5m to 87.5m, including:

    • 11m @ 13.45 g/t Au, 13.68 g/t Ag (13.61 g/t AuEq) from 70.5m to 79m and

    • 3.3m @ 31.64 g/t Au, 26.8 g/t Ag (31.96 g/t AuEq) from 75.8m to 79m

ARD-009:

  • 18.5m @ 1.38 g/t Au, 3.84 g/t Ag (1.43 g/t AuEq) from 17.9m to 36.4m, including:

    • 2.4m @ 3.41 g/t Au, 1.35 g/t Ag (3.43 g/t AuEq) from 18.9m to 21.3m and

    • 1.4m @ 4.89 g/t Au, 10.67 g/t Ag (5.02 g/t AuEq) from 35m to 36.4m

Beurieung Porphyry Copper Prospect

  • Several porphyry Cu-Au deposits discovered in Aceh region. Most significant is  Beutong (Asiamet), with a JORC compliant resource of 509Mt @ 0.48% Cu, 0.13g/t Au for 2.4 Mt Cu and 2.4 Moz Au.

  • Channel sampling (Barrick1997) of sheeted veins in altered intrusive at Beurieung returned 40m @ 0.13% Cu and 0.12 g/t Au. Bornite & chalcopyrite confirmed by FEG.

  • Interpreted as being proximal to porphyry targets defined by high-magnetic signatures within a broad zone of structural dilation.

  • Petrographic studies identified the occurrence  of porphyry-related alteration manifest as diaspore, alunite and pyrophyllite overprinted by late-stage kaolinite/dickite within andesite.

Images showing porphyry outcrop at Beurieung and area of structural dilation with several low-magnetic targets inferring near surface alteration related to porphyry centres.

“A two-kilometer diameter circular feature encompasses the area and a major northeast trending lineament passes through the centre.”         

(PT Woyla Aceh Minerals Exploration Report 2018)