Australian Silica Quartz Group Ltd. announced the first soil sample results from the newly formed Koolyanobbing Metals Project (KMP). ASQ have now completed first pass soil sampling on the northern section of the Golden Wishbone Gold Trend with highly encouraging results. The Golden Wishbone Gold Trend comprises a 7km strike length trend of gold anomalism and occurrences that follow an interpreted shear zone on an ultramafic contact.

The abandoned 1930's golden Wishbone mineshaft lies at the northern end of the trend with reported production of 204 ounces from 344 tonnes giving an average grade of 18g/t from quartz veins. At the southern end of the trend lies a 1.5km Au in soils anomaly with results up to 0.4g/t defined by previous explorers. Exploration of this anomaly has been limited to soil sampling and shallow aircore drilling that failed to penetrate significantly into the fresh basement rocks under thin tertiary cover.

The majority of the trend between the gold soil anomaly and the historical shaft has only sparse soil and rock chip sampling. This is likely to be due to the ground being held tightly until 2017 as part of the adjacent Koolyanobbing Iron Ore mine tenure. Although the historic sampling is patchy, there have been rock chip samples up to 2.68g/t. 373 soil samples were collected over the Golden Wishbone Gold Trend along the interpreted trace of the crustal-scale Koolyanobbing Shear Zone.

500m spaced lines were sampled at 50m intervals with samples predominantly collected from residual soils. The results defined four discrete single line anomalies and a broader elongate anomaly approximately 2.5km in strike length. ASQ considers background gold in soils to be 1-4ppb with anything over 10ppb Au anomalous.

Of the 373 samples assayed, 53 returned results of 10ppb Au or greater and 16 samples had greater than 25ppb Au with a peak result of 88ppb Au. Planning is underway to complete infill soil sampling and more detailed regolith and landform mapping in the anomalous areas early in 2023 with drilling to follow. A further 1,372 soil samples have been collected from prospective areas within the Project in recent weeks, with results expected in First Quarter 2023.

The planned fixed loop ground electromagnetic (FLEM) survey has been delayed by late-season rains flooding Lake Seabrook but is expected to be completed in the coming weeks and aims to test one strong late-time airborne EM conductor located within the lake along with several lower order airborne EM anomalies and an area of outcropping gossan with associated anomalous copper in rock chip results.