Western Queen

Elemental acquired a A$6-20/oz royalty on the Western Queen gold project in Feb 2021.

The Western Queen gold project lies 110km NW of Mt Magnet within the Yalgoo mineral field of Western Australia, located within a 110km radius of three operating gold processing mills. Elemental's interest is a A$6-20/oz royalty over the 9.8km² Western Queen Central Mine and associated prospects held by Rumble Resources Ltd in Western Australia.

The project project lies within the elongate north-south trending Warda Warra mineralised greenstone belt which is 35km in length and up to 3km wide. The greenstone belt hosts the mineralised Western Queen Shear Zone which is up to 50m in width and hosts a series of high-grade gold structures including two mined deposits for a combined historic production of 880,000t @ 7.6 g/t Au for 215,000oz.

Current drilling is targeting multiple near-surface plunging high-grade gold shoots along the Western Queen Shear zone.

For more information on Western Queen, please visit http://www.rumbleresources.com.au/

• Unless otherwise noted, the disclosure contained on this website of a scientific or technical nature for the Western Queen project is based on Rumble Resources’ ASX announcement dated August 6, 2020, titled “Option to Acquire the High-Grade Western Queen Project“. The ASX announcements are prepared in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (“JORC Code”). The ASX announcements are available on Rumble’s website: http://www.rumbleresources.com.au/asx_announcements.php

• Information contained on this website with respect to each of the royalties has been prepared in accordance with the exemption set forth in section 9.2 of NI 43-101. Richard Evans, FAusIMM, is Senior Vice President, Technical for the Company and a qualified person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical disclosure contained in this presentation.

• Certain Resource and Reserve estimates covering properties related to certain mining assets in this website have been prepared in reliance upon the JORC Code. Estimates based on JORC Code are recognized under NI 43-101 in certain circumstances. In each case, the Mineral Resources and Mineral Reserves included in this website are based on estimates previously disclosed by the relevant property owner or operator, without reference to the underlying data used to calculate the estimates. Accordingly, the Company is not able to reconcile the Resource and Reserve estimates prepared in reliance on JORC Code with that of CIM definitions. The Company previously sought confirmation from its Qualified Person who is experienced in the preparation of Resource and Reserve estimates using CIM and JORC Code, of the extent to which an estimate prepared under JORC Code would differ from that prepared under CIM definitions. The Company was advised that, while the CIM definitions are not identical to those of JORC Code, the Resource and Reserve definitions and categories are substantively the same as the CIM definitions mandated in NI 43-101 and will typically result in reporting of substantially similar Reserve and Resource estimates.

 

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