Summary

The three regional geophysical target s represent anomalies derived from ai r-borne magnetics and a ground based gradient IP survey previously complete d by Centrex. The anomalies were test ed with fence lines of shallow (average 13m depth) air-core drill holes, and samples from the paleosurface as well as other units of interest from each hole were analysed for their geochemistry.

Two of the targets show ed elevated base metal contents, namely zinc in line with the targeted geophysical anomalies.

The "Collector East" target located ar ound 2km’s southeast of Colle ctor has a similar magnetic anomaly "bulls eye" response to the known deposit and is slightly elongated in the same NE-SW direction. Ba sed on regional mapping the De Drack Formation that hosts Collector and Collector North is interpreted to be folded underneath Collector East at depth. Previous explorers interp reted the Collector East feature itself to represent a sub-vertic al mafic intrusive unit that cross cuts the regional stratigraphy.

Centrex considered there to be potential for mineralisation in the target De Drack Formation host units at depth to have been mobilised closer to su rface during emplacement of the intrusion. Elevated zinc grades on the edge of the magnetic anomaly shown from two fence line s of air-core drilling (up to 522 ppm zinc) provides some encouragement for the potent ial for mineralisation at de pth. The holes with elevat ed zinc were logged as highly weathered sap rock with iron staining possibly of mafic origin.

"Target 2" is a 1.5km long lin ear IP coincident chargeability and resistivity high feature that aligns with the contact of favourable Woodlawn Volcanic s (that host the Woodlawn Mine around 10km South) and the overlying Covan Creek Formation. Two fence lines of air-core dr illing show elevated zinc results (up to 41 3 ppm) broadly in line with the IP anomaly trend. The holes with elevated zinc were logged as weathered sap rock of both mafic and fe lsic compositions.

"Target 3" is located around 2km’s so uth of Collector comprising a discrete IP chargeability high adjacent to a pronounced low, and a magnetic feature. Mapping over the area inte rprets the host stratigr aphy to be the favourable Woodlawn Volcanics. A single air-core fe nce line was completed over the target with zinc grades up to 210 ppm shown over a less pronounced charge ability anomaly to the east of the main IP target.

In addition to the r egional air-core drilling in the Collector region, Centrex has co mmenced a high-resolution ground based gravity survey over Collector, Coll ector North, and The Glen VHMS Prospect as well as >3km of prospective De Drack Formation stratigraphy along strike predominantly to the southwest. The processed gravity survey results are expected in July.

Centrex previously reported drilling resu lts for Collector and Collector North incl uding the discovery holes for each DDH C2 and CD010 respectively:

DDH C2

  • 25.2m @ 4.1% Zn, 0.8% Cu, 0.1% Pb from 86m depth including 6.3m @ 9.9% Zn, 0.7% Cu
  • 25.2m @ 3.3% Zn, 0.2% Cu from 113m depth including 3.8m @ 6.7% Zn, 0.3% Cu, 0.1% Pb
  • 35.2m @ 2.3% Zn, 0.3% Cu from 141m depth including 7.6m @ 4.6% Zn, 0.2% Cu, 0.1% Pb
  • 20.4m @ 3.9% Zn, 0.4% Cu, 0.5% Pb from 210m depth

CD010

  • 5.9m at 0.98% Cu, 0.31g/t Au, 0.50 % Zn, and 8.64g/t Ag from 105.9m Including 2.9m at 1.34% Cu, 0.54 g/t Au, 0.77% Zn and 9.0g/t Ag