Turner River Gold Project

(Azure 70% / Creasy Group 30%)

Turner River comprises two unexplored Exploration Licence applications covering 450km2 located just south of Port Hedland (see Figure 1).

Widespread sand cover conceals basement rocks comprising sedimentary units of the Mallina Formation, granite intrusions and the Louden Volcanics, an Archean-age greenstone belt (see Figure 2). There are no indications of drilling or other historical exploration activities within the project area.

Figure 1: Turner River Gold Project

At the closest point, Turner River is situated within seven kilometres of De Grey Mining’s (ASX:DEG) Mallina Gold Project, which contains 10.6Moz of gold resources hosted in multiple deposits, including the 8.5Moz Hemi gold deposit.

Hemi and the nearby Mt Berghaus and Cookes Hill gold deposits are associated with the regionally extensive, northeast-trending Berghaus Shear Zone, demonstrating that substantial gold deposits can form with the confluence of a favourable structural setting together with granites intruding into Mallina Formation sediments.

Further along strike to the northeast of these gold deposits, the Berghaus Shear Zone passes through the south-eastern part of the Turner River project area for approximately 12 kilometres, crosscutting Mallina sediments and granite intrusions, making this area a high-priority exploration target for intrusion-related gold mineralisation. This part of the Turner River property also contains the Louden Volcanics, a greenstone belt that may be prospective for more conventional structurally-controlled gold mineralisation, a concept that to date remains relatively untested in this district.

Given the extensive sand cover and minimal outcrop, little historical exploration, favourable rock types in a fertile structural setting, together with proximity to De Grey’s gold deposits, Azure considers there to be good potential for Turner River to host substantial gold mineralisation.

Azure will undertake geophysical surveys and drilling within this unexplored project as soon as the tenements are granted.