Lone Star Copper-Gold Project

The Lone Star Copper-Gold Project (Lone Star) is a former producing mine, located in Washington State, USA. The 234-hectare Project is centred on an area 40 kilometres north north-west of Republic, Washington and adjacent to the Canada-USA border.

The Project is situated in Ferry County, Washington, USA. It is adjacent to Golden Dawn Minerals Inc.’s Lexington Property on the British Columbia side of the Canada - United States border where Golden Dawn is actively developing the Lexington-Grenoble deposit.

The Project comprises of a 3km-long mineralised trend of Cu and Au, with several significant past producing copper-gold mines and boasts a Mineral Resource Estimate (MRE) of 13.2Mt @ 0.42% Cu & 0.23 g/t Au for 0.58% CuEq (refer to the Company’s announcement to ASX on 27 October 2022 for further information).

The maiden MRE announced by Marquee in 2022 was the result of an extensive drill program completed by the Company, which intersected a wide mineralised envelope (150m @ >0.5% Cu), with high-grade mineralised zones (19.8m@ >2% Cu) within the core of the system. As part of the MRE sits a high-grade portion of 1.25Mt @ 1.54% Cu & 0.67 g/t Au for 2.03% CuEq. The independently estimated MRE is categorised as 73% Indicated and 27% Inferred, and extends from surface and remains open at depth.

A total of 60 drill holes were included in the MRE, of which 13 were drilled in 2006 and 47 were drilled in 2021-2022. Two holes drilled in 2006 encountered drilling problems and were subsequently twinned, so they were not used in the MRE. All 58 remaining drill holes used in the MRE were diamond drill holes, with a total combined length of approximately 8,880m.

Importantly, Lone Star provides Marquee with significant potential for expansion in size and scale as high-grade mineralisation remains open at depth and many zones remain untested. The Project has existing infrastructure including water and road access, and several processing options exist with the nearest mill just 11km away.