For personal use only

ASX Announcement

10th March 2022

Australia United Mining Ltd | ABN 35 126 540 547

Suite 606, 84 Pitt Street Sydney NSW 2000

PO Box 20634, World Square NSW 2002

Ph 02-9252 4525 | Fax 02-9252 4525 | www.australiaunitedmining.com.au

For personal use only

Up to 37.1 g/t Au from Rock Chip Sampling at Forsayth

Australia United Mining Limited ("the Company" or "AYM") is pleased to present results from mapping and rock chip sampling conducted over AYM's tenements at Forsayth in North Queensland. Fifty‐one gold mines and mineral occurrences are known to lie within the tenements held by AYM (EPM14998, ML3417, ML3418) (Figure 1). The bulk of the gold deposits around Forsayth are Early Devonian shear‐ hosted lodes that may have steep or shallow dipping orientation and often lie on kilometre scale structures.

High priority structures identified in a regional data compilation and targeting study were followed up on the ground. Sampling of the outcropping gold bearing quartz reefs was conducted with the aim of identifying "open‐pittable" gold resources that could supplement the ore being mined at the Ropewalk goldmine (ML3417). Composite rock chip samples were collected mainly from outcrops along strike from old mine workings and are described in Table 1. Anomalous gold results were obtained from samples of vein material collected along strike from the All Nations, Forget‐me‐not, Trafalgar and Mountaineer mine workings (Figure 2 and 3; Plate 1). A composite sample of silicified and veined phyllite from a ridge in the southeast corner of the EPM (sample #12809) assayed 4.13 g/t gold (Figure 3).

The results of the rock chip sampling programme show that the vein systems identified warrant follow‐ up sampling.

Australia United Mining Ltd ABN: 35 126 540 547

Suite 606, 84 Pitt Street Sydney NSW 2000

PO Box 20634, World Square NSW 2002

Ph 02-9252 4525 | Fax 02-9252 4525 | www.australiaunitedmining.com.au

143.6 °

143.65 °

143.7 °

-18.55 °

-18.55 °

nlyo

Queenslander

use-18.6 °

Nil Desperandum

FORSAYTH

EPM14498

-18.6 °

Einasleigh

Gold

occurrences

-18.65 °

-18.65 °

personal

EPM14498

Ropewalk

Flying Cow

Opencut

Underground

ML3417

ML3418

-18.7 °

-18.7 °

For

Forsayth

QLD

-18.75 °

143.6 °

143.65 °

143.7 °

-18.75 °

For personal use only

TABLE 1: EPM 14498 ROCK CHIP SAMPLE LOCATIONS, DESCRIPTIONS AND GOLD ASSAYS

sample

no

Location

E

N

Au

Description

Sheared, multiphase buck white, fractured

East of Trafalgar

quartz, cut by stylolites. Limonite after

21497

Workings

771222

7945300

2.20 sulphides ? Filling fractures and vughs.

Multiphase shearing, breccia and veining.

Parallel layers of sheared qtz and granite with

banded buck white quartz veining, stylolites.

East of Forget-

Late vughy , euhedral qtz infill. Vugh cores

21498

me-not workings

774200

7941628

22.0 filled with limonite after sulphides.

Composite sample. Narrow 1m wide lode.

Striking NW. 50m long , 5-6 pits. Veining

hosted in muscovite phyllite and quartzite.

All Nations

Sheared, brecciated, early buck white quartz.

21499

workings

783602

7933580

23.5 Vughs filled with limonite after sulphides.

Sheared and brecciated granite. 85 degree

strike, vertical dip.

Med. euhedral buck quartz, recrystallised by

West of

later shearing. Late fine comb quartz.

Mountaineer

Limonite boxwork after sulphides lining late

21500

workings

775864

7943715

37.1 vughs and interstitial to quartz crystals .

Coarse, clear-white, crystalline quartz with

North Arm

large vughs filled by limonite after sulphides.

workings,

Old workings 10m long x 2m deep x 2m wide.

Goldsmith

Pit strikes // veins and host phyllite. Dips 55

12808

Station

784331

7933654

2.19

deg. Towards 345.

Gneiss, cut by NW striking zone of qtz-sericite

alteration, veining and brecciation. White,

massive, fractured qtz veins. Often

brecciated. Vughy, limonite stained boxworks.

Milled, hydrothermal breccia present in places

// zone of veining. Breccia includes qtz chips.

90% fine rock flour matrix. Crude banding in

Goldsmith

qtz veins in places and replacement of platy

Station, silicified

minerals (carbonate?) , epithermal? Silicified

12809

ridge

785334

7933569

4.13 and fractured rhyolite outcrop on ridge.

  • Rock chip samples were collected as a composite sample over a 20m radius. Samples were assayed for gold only by 50g charge fire assay (ALS Laboratories).

Australia United Mining Ltd | ABN 35 126 540 547

Suite 606, 84 Pitt Street Sydney NSW 2000

PO Box 20634, World Square NSW 2002

Ph 02-9252 4525 | Fax 02-9252 4525 | www.australiaunitedmining.com.au

770,000 mE

772,000 mE

774,000 mE

776,000 mE

778,000 mE

780,000 mE

7,946,000 mN

7,946,000 mN

only

Trafalgar

2.2

7,944,000 mN

7,944,000 mN

use

37.1

Mountaineer

FORSAYTH

7,942,000 mN

Forget-me-not

7,942,000 mN

EPM14498

22.0

N

GOLD OCCURRENCE

CREEK

MINERALISED LODE

SAMPLE LOCATION AND

GOLD ASSAY (g/t)

7,940,000 mN

mE

7,940,000 mN

ersonalp

772,000 mE

774,000 mE

776,000 mE

778,000 mE

780,000 mE

2km

GDA94 Zone 54

770,000

r

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Australia United Mining Limited published this content on 10 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 March 2022 07:22:07 UTC.