MARQUEE RESOURCES LIMITED (MQR)

WEST SPAROGOVILLE PROJECT

WEST SPARGOVILLE PROJECT

Marquee Resources has entered into an exclusive Option Agreement with Fyfehill Pty Ltd acquiring Exploration Licence E15/1743, known as the West Spargoville Project. The West Spargoville Project is continuous over a ~20km strike extent covering an area of ~80km2. The project is massively underexplored tenure within a Tier 1 gold and nickel jurisdiction.

The West Spargoville project is located between 60 to 80km south of Kalgoorlie in the Kambalda District of the Eastern Goldfields at the northern end of the Widgiemooltha Greenstone Belt.

The West Spargoville Project sits on the western limb of a regional syncline and displays the same rock types to those observed at Wattle Dam. Wattle Dam was one of Australia’s highest-grade gold deposits and produced ~275koz at 12.5g/t Au. Wattle Dam is unique in that contains millimeter- to centimeter-thick gold-only veins and an absence of quartz. The nature of the mineralisation contributed to the orebody’s “spotty and nuggety” nature.

Within the Project, magnetics data highlights two NW-trending, high- magnetic zones, interpreted as doleritic and ultramafic units, separated by basalt stratigraphy. The mafic package is bounded by Black Flag Group sediments and granitoid plutons to the NE and SW respectively. D2 and D3 structures formed during NE-SW compression and were reactivated during NW-SE compression.  D4 structures cross-cut earlier formed structures and were formed during ‘late’ NE-SW directed compression. Gold mineralisation, within the Yilgarn Craton, occurred predominantly during the D3-D4 deformation events and the intersections of these structures are prospective structural targets.

Marquee is about to embark on a clear and methodical path forward to understand and test geochemical targets. Multiple kilometre scale geochemical targets have been identified with very limited previous drilling undertaken.

1. WEST LARKINVILLE

  • Surface geochemical footprint extends north and south of current MXR resource.
  • First pass RAB drilling completed north of the deposit intersected low level gold anomalism (up to 0.2ppm).
  • SW-dipping mineralised structure.
  • Historical RAB holes drilled towards the west, follow up RC drilled towards the east.
  • Exploration strategy to test for along-strike and down-dip extensions north and south of current resource.
  • Drilling planned and budgeted for
    Q4 2020

2. HAROLDS NORTH

  • Semi-continuous 1.5 km long surface geochemical anomaly defined by wide-spaced auger sampling.
  • Situated in a favourable structural setting at the intersection of the Harolds Find structure and a NE-trending cross-fault.
  • Shallow, wide-spaced RAB ineffective for targeting narrow, high- grade, poddy gold targets.
  • Targeted RC drilling planned after initial field reconnaissance in Q4 2020.

3. RAILWAY

  • Semi-continuous 4.5 km long surface geochemical anomaly defined by wide-spaced, >200m line spacing, auger sampling.
  • Located within the Wattle Dam Low-Gravity Corridor with multiple, structurally controlled targets untested by drilling.
  • Infill auger sampling planned and budgeted for Q1 2021 with follow-up targeted RC drilling.

4. SOUTH LARKINVILLE

  • 800m x 500m geochemical anomaly situated on the nose of an open fold and the intersection of late cross-faults.
  • Historical drilling consisted of shallow, wide spaced RAB holes.
  • Shallow, wide-spaced RAB ineffective for targeting narrow, high-grade, poddy gold targets.
  • Analogous lithostructural setting south of the main anomaly remains untested by surface geochemistry.
  • Infill auger sampling with follow-up, targeted RC drilling planned and budgeted for Q1 2021.
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