Announcement PDF ASX ANNOUNCEMENT 31 MAY 2023 GREAT FINGALL RESOURCE GROWS TO HALF MILLION OUNCES Mine Restart Evaluation Underway Westgold Resources Limited (ASX: WGX) (Westgold or the Company) is pleased to provide details of the 2023 Mineral Resource Estimate update for its Great Fingall gold deposit near Cue in Western Australia. HIGHLIGHTS  49% uplift in reportable Mineral Resource Estimate (MRE) o Great Fingall now 4.3Mt at 4.3g/t Au for 588koz.  Mine restart evaluation based upon the updated MRE is underway – this evaluation expected to be completed within the coming weeks.  Two drill rigs to mobilise in coming weeks – as a final drilling program is undertaken with clearly defined geological triggers to enable a Final Investment Decision (FID).  Pending drill program success, Westgold remains on track to make an FID on restart of Great Fingall in Q1, FY24. Westgold Managing Director, Wayne Bramwell commented: “A forty-nine percent (49%) uplift from the last reported mineral resource estimate at Great Fingall is stunning. It shows the value that can be created when first principles geology is coupled with a corporate willingness to back geologists with drilling investment. Westgold is confident there is more upside at Great Fingall, as to date we have only focused on the better defined and therefore lower execution risk extensions to the known Great Fingall Reef. Importantly, the flat structures exploited in the historic Great Fingall open pit and the parallel and tantalisingly close, high-grade Golden Crown system remain largely untested. Drilling success across all our asset suite is beginning to change external perceptions about our Murchison land holdings as being a mature, well-understood gold belt with limited potential to surprise. From Westgold’s internal lens, we see a highly endowed gold province that is under-explored and has been unloved for more than twenty years. Great Fingall is just one of three multi-million-ounce historic producing mines within our portfolio. To bring this iconic, high grade mine back to life post a positive financial investment decision in Q1, FY24 will be a proud day for our team, shareholders, and stakeholders alike.” Westgold Resources Limited (ASX: WGX) ACN 009 260 306 Level 6, 200 St Georges Terrace, Perth WA 6000 +61 8 9462 3400 perth.reception@westgold.com.au www.westgold.com.au ASX: WGX GREAT FINGALL – AN ICONIC HIGH-GRADE UNDERGROUND MINE The Golden Crown and Great Fingall mines, separated by ≈700m along the Great Fingall Dolerite, have hosted significant historic mine production, with more than 1.55Moz of gold being mined since the late 1800’s (refer Figure 1). Between 1891 and 1929 Great Fingall yielded 1.2Moz of gold from 1.9Mt of ore at a recovered grade of 19.5g/t Au from 20 levels developed underground to a depth of 786 metres below the surface. Extensional drilling in the 1980s confirmed the continuation of the orebody to a depth >1,000m below surface with the system remaining open at depth. In 2019, Westgold drilled hole 19GCDD028 which intersected the Fingall Reef >400m down plunge from the then deepest historic drill hole confirming the significance of the Great Fingall orebody. Figure 1: Schematic Great Fingall and Gold Crown deposits 31 MAY 2023 GREAT FINGALL RESOURCE GROWS TO HALF MILLION OUNCES 2 ASX: WGX 2023 MINERAL RESOURCE UPDATE Westgold initially reported a mineral resource estimate for Great Fingall in August 2021 (refer ASX 2021 Diggers & Dealers Presentation 2021, 3 August 2021) (Appendix A). In October 2022, drilling recommenced to test beneath the reported Mineral Resource (Figure 1) as geological logging and interpretation of the early holes suggested the prevailing geological model required revision. The updated geological model and mineral resource estimate for Great Fingall, predicated on most recent drilling, shows the Fingall Reef splits into two reefs (i.e. bifurcates) resulting in both an enhanced ounce per vertical metre profile and more flexibility in mine design and scheduling due to increased heading availability. Parallel and secondary structures, such as the Great Fingall cross linking flat structures which were exploited in the Great Fingall open pit and seen in Westgold 2022 drilling (refer ASX High-Grade Intercepts at New Sovereign Reef Discovery 20 June 2022), have been treated conservatively both in terms of estimation and subsequent classification, due to a lack of structural data associated with these secondary lodes in older holes. This new 2023 estimate (Table 1) has seen contained ounces grow by 49% from the previous estimate. The new estimate is constrained by documented geological controls, has been peer reviewed, deemed appropriate by the Company’s senior geoscientists and is considered to be a conservative base case for future planning. Classification Tonnes Grade (g/t) Ounces Measured 0 0.00 0 Indicated 3,227,432 4.25 441,410 Inferred 1,034,642 4.41 146,661 Total 4,262,074 4.29 588,071 Table 1: Great Fingall May 2023 Updated Mineral Resource Estimate LOOKING FORWARD The 2023 Mineral Resource update has provided impetus to accelerate mine planning evaluations to support a potential FID. It should be noted that a shallow, dry and intact modern decline exists at Great Fingall to a depth of approximately 160m below surface. Westgold has surplus underground fleet ready to rapidly deploy and pending a positive FID, development at Great Fingall could commence rapidly in Q1, FY24. In parallel and to ensure that the proposed mine plan and execution pathway can proceed as currently envisaged, several key geological aspects require confirmation. This drill program is due to commence in early June, and in order to reach a decision point in the shortest possible timeframe, two rigs will be engaged to undertake this work. Westgold looks forward to updating the market with the results of this drilling, the evaluation process and the FID as they become available. 31 MAY 2023 GREAT FINGALL RESOURCE GROWS TO HALF MILLION OUNCES 3 ASX: WGX Figure 2: Westgold’s Extensive Murchison Assets Extending from Cue to Meekatharra ENDS THIS ANNOUNCEMENT IS AUTHORISED FOR RELEASE TO THE ASX BY THE BOARD. Media and Investor Relations Enquiries INVESTOR RELATIONS Kasun Liyanaarachchi| Investor Relations Manager Investor.Relations@westgold.com.au +61 458 564 483 www.westgold.com.au 31 MAY 2023 GREAT FINGALL RESOURCE GROWS TO HALF MILLION OUNCES MEDIA Peter Knight | Communications Advisor Peter.Knight@westgold.com.au +61 459 980 481 4 ASX: WGX COMPETENT PERSON STATEMENTS EXPLORATION RESULTS AND MINERAL RESOURCES ESTIMATES The information in this report that relates to Exploration results and Mineral Resource Estimates is compiled by Westgold technical employees and contractors under the supervision of Mr. Jake Russell B.Sc. (Hons), who is a member of the Australian Institute of Geoscientists. Mr Russell is a full-time employee of the company and has sufficient experience which is relevant to the styles of mineralisation and types of deposit under consideration and to the activities which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Russell consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. Mr Russell is eligible to participate in short- and long-term incentive plans of the company. ORE RESERVES The information in this report that relates to Ore Reserve is based on information compiled by Mr. Leigh Devlin B.Eng. MAusIMM. Mr. Devlin has sufficient experience which is relevant to the styles of mineralisation and types of deposit under consideration and to the activities which they are undertaking to qualify as a Competent Person as defined in the 2012 Editions of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC 2012)”. Mr. Devlin consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. Mr. Devlin is a full-time senior executive of the Company and is eligible to and may participate in short-term and long-term incentive plans of the Company as disclosed in its annual reports and disclosure documents. FORWARD LOOKING STATEMENTS Certain statements in this report relate to the future, including forward looking statements relating to Westgold’s financial position and strategy. These forward-looking statements involve known and unknown risks, uncertainties, assumptions and other important factors that could cause the actual results, performance or achievements of Westgold to be materially different from future results, performance or achievements expressed or implied by such statements. Actual events or results may differ materially from the events or results expressed or implied in any forward-looking statement and deviations are both normal and to be expected. Other than required by law, neither Westgold, their officers nor any other person gives any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements will actually occur. You are cautioned not to place undue reliance on those statements. 31 MAY 2023 GREAT FINGALL RESOURCE GROWS TO HALF MILLION OUNCES 5 ASX: WGX APPENDIX A – GREAT FINGALL and GOLDEN CROWN MINERAL RESOURCE ESTIMATE (MRE) TABULATION GREAT FINGALL MRE MAY 2023 Tonnes Grade Ounces Measured 0 0 0 Indicated 3,227,432 4.25 441,410 Inferred 1,034,642 4.41 146,661 Total 4,262,074 4.29 588,071 Open pit portion of the Mineral Resource Estimate reported above a cut-off grade of 0.7g/t and above the 800mRL. Underground portion of the Mineral Resource Estimate reported above a cut-off grade of 2.0g/t and below the 800mRL. GOLDEN CROWN MRE CURRENT Tonnes Grade Ounces Indicated 0 495,669 0 8.73 0 139,176 Inferred 261,446 6.62 55,659 Total 757,115 8.00 194,836 Measured Mineral Resource Estimate reported above a cut-off grade of 2.5g/t. GREAT FINGALL MRE OCTOBER 2022 Classification Tonnes Grade (g/t) Ounces Measured 0 0.00 0 Indicated 1,997,869 4.62 297,009 Inferred 789,130 3.90 98,970 Total 2,786,999 4.42 395,979 Open pit portion of the Mineral Resource Estimate reported above a cut-off grade of 0.7g/t and above the 800mRL. Underground portion of the Mineral Resource Estimate reported above a cut-off grade of 2.0g/t and below the 800mRL. 31 MAY 2023 GREAT FINGALL RESOURCE GROWS TO HALF MILLION OUNCES 6 ASX: WGX SECTION 1 SAMPLING TECHNIQUES AND DATA APPENDIX B – JORC 2012 TABLE 1 (Criteria in this section apply to all succeeding sections.) Criteria JORC Code Explanation Commentary Sampling techniques • Diamond Drilling • A significant portion of the data used in resource calculations has been gathered from diamond core. Multiple sizes have been used historically. This core is geologically logged and subsequently halved for sampling. Grade control holes may be whole-cored to streamline the core handling process if required. Face Sampling • At each of the major past and current underground producers, each development face / round is horizontally chip sampled. The sampling intervals are domained by geological constraints (e.g. rock type, veining and alteration / sulphidation etc.). The majority of exposures within the orebody are sampled. Sludge Drilling • Sludge drilling at is performed with an underground production drill rig. It is an open hole drilling method using water as the flushing medium, with a 64mm (nominal) hole diameter. Sample intervals are ostensibly the length of the drill steel. Holes are drilled at sufficient angles to allow flushing of the hole with water following each interval to prevent contamination. Sludge drilling is not used to inform resource models. RC Drilling • Drill cuttings are extracted from the RC return via cyclone. The underflow from each interval is transferred via bucket to a four-tiered riffle splitter, delivering approximately three kilograms of the recovered material into calico bags for analysis. The residual material is retained on the ground near the hole. Composite samples are obtained from the residue material for initial analysis, with the split samples remaining with the individual residual piles until required for resplit analysis or eventual disposal. RAB / Aircore Drilling • Combined scoops from bucket dumps from cyclone for composite. Split samples taken from individual bucket dumps via scoop. RAB holes are not included in the resource estimate. Blast Hole Drilling Cuttings sampled via splitter tray per individual drill rod. Blast holes not included in the • resource estimate. • All geology input is logged and validated by the relevant area geologists, incorporated into this is assessment of sample recovery. No defined relationship exists between sample recovery and grade. Nor has sample bias due to preferential loss or gain of fine or coarse material been noted. • • • Drilling techniques • • • Drill sample recovery • Logging • • • Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling. Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information. Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc.). Method of recording and assessing core and chip sample recoveries and results assessed. Measures taken to maximise sample recovery and ensure representative nature of the samples. Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. Whether core and chip samples have been geologically and geotechnically logged to a level of • detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography. • The total length and percentage of the relevant intersections logged 31 MAY 2023 GREAT FINGALL RESOURCE GROWS TO HALF MILLION OUNCES • Westgold surface drill-holes are all orientated and have been logged in detail for geology, veining, alteration, mineralisation and orientated structure. Westgold underground drill-holes are logged in detail for geology, veining, alteration, mineralisation and structure. Core has been logged in enough detail to allow for the relevant mineral resource estimation techniques to be employed. Surface core is photographed both wet and dry and underground core is photographed wet. All photos are stored on the Company’s servers, with the photographs from each hole contained within separate folders. Development faces are mapped geologically. 7 ASX: WGX Criteria Sub-sampling techniques and sample preparation JORC Code Explanation • • • • • • If core, whether cut or sawn and whether quarter, half or all core taken. If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry. For all sample types, the nature, quality and appropriateness of the sample preparation technique. Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling. Whether sample sizes are appropriate to the grain size of the material being sampled. Commentary • • • • RC, RAB and Aircore chips are geologically logged. Sludge drilling is logged for lithology, mineralisation and vein percentage. Logging is quantitative in nature. All holes are logged completely, all faces are mapped completely. • • Blast holes -Sampled via splitter tray per individual drill rods. RAB / AC chips - Combined scoops from bucket dumps from cyclone for composite. Split samples taken from individual bucket dumps via scoop. RC - Three tier riffle splitter (approximately 5kg sample). Samples generally dry. Face Chips - Nominally chipped horizontally across the face from left to right, sub-set via geological features as appropriate. Diamond Drilling - Half-core niche samples, sub-set via geological features as appropriate. Grade control holes may be whole-cored to streamline the core handling process if required. Chips / core chips undergo total preparation. Samples undergo fine pulverisation of the entire sample by an LM5 type mill to achieve a 75µ product prior to splitting. QA/QC is currently ensured during the sub-sampling stages process via the use of the systems of an independent NATA / ISO accredited laboratory contractor. A significant portion of the historical informing data has been processed by in-house laboratories. The sample size is considered appropriate for the grain size of the material being sampled. The un-sampled half of diamond core is retained for check sampling if required. For RC chips regular field duplicates are collected and analysed for significant variance to primary results. • • • • • • • • Quality of assay data and laboratory tests • • • Verification of sampling and assaying • • • • The nature, quality and appropriateness of the assaying and laboratory procedures used and • whether the technique is considered partial or total. For geophysical tools, spectrometers, handheld XRF instruments, etc., the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision • have been established. • • Recent drilling was analysed by fire assay as outlined below; ♦ A 40g sample undergoes fire assay lead collection followed by flame atomic adsorption spectrometry. ♦ The laboratory includes a minimum of 1 project standard with every 22 samples analysed. ♦ Quality control is ensured via the use of standards, blanks and duplicates. No significant QA/QC issues have arisen in recent drilling results. Historical drilling has used a combination of Fire Assay, Aqua Regia and PAL analysis. These assay methodologies are appropriate for the resources in question. The verification of significant intersections by either independent or alternative company • personnel. • The use of twinned holes. Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data. • No independent or alternative verifications are available. Virtual twinned holes have been drilled in several instances across all sites with no significant issues highlighted. Drillhole data is also routinely confirmed by development assay data in the operating environment. Primary data is collected utilising LogChief. The information is imported into a SQL database server and verified. All data used in the calculation of resources and reserves are compiled in databases (underground and open pit) which are overseen and validated by senior geologists. No adjustments have been made to any assay data. • 31 MAY 2023 GREAT FINGALL RESOURCE GROWS TO HALF MILLION OUNCES 8 ASX: WGX Criteria Location of data points JORC Code Explanation • • • Commentary Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), • trenches, mine workings and other locations used in Mineral Resource estimation. Specification of the grid system used. • Quality and adequacy of topographic control. • Data spacing and distribution • • • Data spacing for reporting of Exploration Results. • Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation • procedure(s) and classifications applied. Whether sample compositing has been applied. Data spacing is variable dependent upon the individual orebody under consideration. A lengthy history of mining has shown that this approach is appropriate for the Mineral Resource estimation process and to allow for classification of the resources as they stand. Compositing is carried out based upon the modal sample length of each individual do-main. Drilling intersections are nominally designed to be normal to the orebody as far as underground infrastructure constraints / topography allows. Development sampling is nominally undertaken normal to the various orebodies. Where drilling angles are sub optimal the number of samples per drill hole used in the estimation has been limited to reduce any potential bias. It is not considered that drilling orientation has introduced an appreciable sampling bias. Orientation of data in relation to geological structure • • Whether the orientation of sampling achieves unbiased sampling of possible structures and • the extent to which this is known, considering the deposit type. If the relationship between the drilling orientation and the orientation of key mineralised • structures is considered to have introduced a sampling bias, this should be assessed and • reported if material. Sample security • The measures taken to ensure sample security. • • • Audits or reviews • All data is spatially oriented by survey controls via direct pickups by the survey department. Drillholes are all surveyed downhole, deeper holes with a Gyro tool if required, the majority with single / multishot cameras. All drilling and resource estimation is preferentially undertaken in local mine grid at the various sites. Topographic control is generated from a combination of remote sensing methods and groundbased surveys. This methodology is adequate for the resources in question. The results of any audits or reviews of sampling techniques and data 31 MAY 2023 GREAT FINGALL RESOURCE GROWS TO HALF MILLION OUNCES • For samples assayed at on-site laboratory facilities, samples are delivered to the facility by Westgold staff. Upon delivery the responsibility for sample security and storage falls to the independent third-party operators of these facilities. For samples assayed off-site, samples are delivered to a third-party transport service, who in turn relay them to the independent laboratory contractor. Samples are stored securely until they leave site. Site generated resources and reserves and the parent geological data is routinely reviewed by the Westgold Corporate technical team. 9 ASX: WGX SECTION 2 REPORTING OF EXPLORATION RESULTS (Criteria listed in the preceding section also apply to this section.) Criteria JORC Code Explanation Mineral tenement and land tenure status • • Commentary Type, reference name/number, location and ownership including agreements or material issues • with third parties such as joint ventures, partnerships, overriding royalties, native title interests, • historical sites, wilderness or national park and environmental settings. The security of the tenure held at the time of reporting along with any known impediments to • obtaining a licence to operate in the area. • Native title interests are recorded against several WGX tenements. The CMGP tenements are held by the Big Bell Gold Operations Pty Ltd (BBGO) of which Westgold has 100% ownership. Several third-party royalties exist across various tenements at CMGP, over and above the state government royalty. The Fortnum Gold Project tenure is 100% owned by Westgold through subsidiary company Aragon Resources Pty. Ltd. Various Royalties apply to the package. The most pertinent being; ♦ • • • • $10/oz after first 50,000oz (capped at $2M)- Perilya ♦ State Government – 2.5% NSR The tenure is currently in good standing. There are no known issues regarding security of tenure. There are no known impediments to continued operation. WGX operates in accordance with all environmental conditions set down as conditions for grant of the leases. The CMGP tenements have an exploration and production history in excess of 100 years. The FGP tenements have an exploration and production history in excess of 30 years. Westgold work has generally confirmed the veracity of historic exploration data. Exploration done by other parties • Acknowledgment and appraisal of exploration by other parties Geology • • • • Deposit type, geological setting and style of mineralisation. Meekatharra Gold Operations (MGO) MGO is located in the Achaean Murchison Province, a granite-greenstone terrane in the • northwest of the Yilgarn Craton. Greenstone belts trending north-northeast are separated by granite-gneiss domes, with smaller granite plutons also present within or on the margins of the belts. • The Paddy’s Flat area is located on the western limb of a regional fold, the Polelle Syn- cline, within a sequence of mafic to ultramafic volcanics with minor interflow sediments and banded iron-formation. The sequence has also been intruded by felsic porphyry dykes prior to mineralisation. Mineralisation is located along four sub-parallel trends at Paddy’s Flat which can be summarized as containing three dominant mineralisation styles: ♦ • • Sulphide replacement BIF hosted gold. Quartz vein hosted shear-related gold. ♦ Quartz-carbonate-sulphide stockwork vein and alteration related gold. The Yaloginda area is a gold-bearing Archaean greenstone belt situated ~15km south of Meekatharra. The deposits in the area are hosted in a strained and metamorphosed volcanic sequence that consists primarily of ultramafic and high-magnesium basalt with minor komatiite, peridotite, gabbro, tholeiitic basalt and interflow sediments. The sequence was intruded by a variety of felsic porphyry and intermediate sills and dykes. The Reedy’s mining district is located approximately 15 km to the south-east to Meekatharra and to the south of Lake Annean. The Reedy gold deposits occur with- in a north-south trending greenstone belt, two to five kilometres wide, composed of volcano-sedimentary sequences and separated multiphase syn- and post-tectonic granitoid complexes. Structurally controlled the gold occur. Cue Gold Operations (CGO) • CGO is located in the Achaean Murchison Province, a granite-greenstone terrane in the 31 MAY 2023 GREAT FINGALL RESOURCE GROWS TO HALF MILLION OUNCES 10 ASX: WGX Criteria JORC Code Explanation Drill hole Information • • Commentary northwest of the Yilgarn Craton. Greenstone belts trending north-northeast are separated by granite-gneiss domes, with smaller granite plutons also present within or on the margins of the belts. • Mineralisation at Big Bell is hosted in the shear zone (Mine Sequence) and is associated with the post-peak metamorphic retrograde assemblages. Stibnite, native antimony and trace arsenopyrite are disseminated through the K-feldspar-rich lode schist. These are intergrown with pyrite and pyrrhotite and chalcopyrite. Mineralisation outside the typical Big Bell host rocks (KPSH), for example 1,600N and Shocker, also display a very strong W-As-Sb geochemical halo. • Numerous gold deposits occur within the Cuddingwarra Project area, the majority of which are hosted within the central mafic-ultramafic ± felsic porphyry sequence. Within this broad framework, mineralisation is shown to be spatially controlled by competency contrasts across, and flexures along, layer-parallel D2 shear zones, and is maximised when transected by corridors of northeast striking D3 faults and fractures. • The Great Fingall Dolerite hosts the majority gold mineralisation within the portion of the greenstone belt proximal to Cue (The Day Dawn Project Area). Unit AGF3 is the most brittle of all the five units and this characteristic is responsible for its role as the most favourable lithological host to gold mineralisation in the Greenstone Belt. Fortnum Gold Project (FGP) • The Fortnum deposits are Paleoproterozoic shear-hosted gold deposits within the Fortnum Wedge, a localised thrust duplex of Narracoota Formation within the overlying Ravelstone Formation. Both stratigraphic formations comprise part of the Bryah Basin in the Capricorn Orogen, Western Australia. • The Horseshoe Cassidy deposits are hosted within the Ravelstone Formation (siltstone and argillite) and Narracoota Formation (highly-altered, moderate to strongly deformed mafic to ultramafic rocks). The main zone of mineralisation is developed within a horizon of highly altered magnesian basalt. Gold mineralisation is associated with strong vein stock works that are confined to the altered mafic. Alteration consists of two types; stockwork proximal silicacarbonate-fuchsite-haematite-pyrite and distal silica-haematite-carbonate+/- chlorite. The Peak Hill district represents remnants of a Proterozoic fold be