Bali Copper Project

HOLDING

100%

RESOURCES

Copper

PROJECT SIZE

36km²

LOCATION

200kms West of Newman

Bali Copper Project

Overview

Norwest’s Bali Copper Project (100%) is located 75 kilometres west of Paraburdoo in Western Australia. The Bali Project includes an 8km long shear being a major faulted zone proven to host copper, lead, zinc and silver mineralisation. The complex history of the Bali Shear combined with interaction of earlier structures has resulted in mineralisation within and adjacent to the Bali Shear. Small-scale copper mining occurred in the 1950s and 1960s.

In January 2023 Norwest reported the results of 33 reverse circulation (RC) drillholes (3,886m) from RC drilling targeted four priority prospects. The holes were drilled in November 2022 with maany intersecting wide zones grading ≥ 0.2% copper with 16 individual metres assaying ≥ 3% copper and the highest being 11.2%.

Drilling at Bali Lo

At Bali Lo RC hole BRC001 (52m @ 1.4% Cu from 0m inc. 12m @ 4.4% Cu from 4m) was drilled parallel to historical hole CL1A. Both holes were logged as being drilled down the dip of the strong near-surface copper mineralisation which occurs along the sandstone- siltstone contact of the Capricorn group which overlies the shales of the Ashburton formation.

Drilling at Bali High

At Bali High copper mineralisation remains open to the southeast and is the only prospect to return significant tenor for multiple elements being copper (Cu), lead (Pb), zinc (Zn) and silver (Ag). The mineralisation intersected in holes BRC016, BRC031 and BRC032 is described as semi massive chalcopyrite-galena-sphalerite in intensely silicified siltstone. The mineralisation intersected in hole BRC016 occurs at the contact between the Ashburton shale and Capricorn group sandstone and is open down dip.

BRC015 – 4m @ 0.4% Cu from 83m including 2m @ 1.6% Pb & 26 g/t Ag.
BRC016 – 5m @ 1.5% Cu, 5.5% Zn from 35m including 4m @ 8.0% Pb and 3m @ 90 g/t Ag.
BRC031 – 2m @ 0.4% Cu, 1.5% Pb, 1.1% Zn and 17 g/t Ag from 67m.
BRC032 – 4m @ 0.6% Cu, 2.1% Pb and 0.8% Zn and 21 g/t Ag from 107m.

Bali East Prospect

The RC drilling at Bali East prospect intersected relatively wide zones of copper mineralisation.

The copper mineralisation appears to be open along the Bali shear to the southeast with potential for additional copper mineralisation occurring along the 2-kilometre extent between Bali East and tenement’s western boundary.

BRC018 – 17m @ 0.5% Cu from 3m.
BRC019 – 4m @ 0.3% Cu from 4m and 4m @ 0.3% Cu from 17m.
BRC021 – 19m @ 0.3% Cu from 35m and 2m @ 0.7% Cu from 74m.
BRC022 – 13m @ 0.8% Cu from 21m inc. 4m @ 1.4% and 17m @ 0.9% Cu from 39m inc. 5m @ 1.1% Cu.
BRC033 – 11m @ 1.0% Cu from 17m and 15m @ 0.6% Cu from 32m.

Bali South Prospect

The Bali South prospect is not located on the Bali shear but on a parallel structure to the southwest similar to the narrow structures being mapped and rock chip sampled in the nearby Deep South area.

The Bail South prospect returned relatively wide copper intersections in holes BRC025 & BRC027 with the mineralisation hosted within the Ashburton siltstones. However, the Bali South mineralisation appears to be dipping at a much flatter orientation than the steeply dipping mineralisation drilled along the Bali shear zone to the north.

BRC025 – 29m @ 0.7% Cu from 4m including 1m @ 5.0% Cu
BRC027 – 15m @ 1.0% Cu from 10m including 7m @ 1.7% Cu and 2m @ 4.0% Cu

Bali Copper Project location map

Map showing the location RC drillhole collars with significant intersections labelled

Deep South and Conglomerate – multiple high-grade copper veins

Norwest’s geologists have identified multiple copper-rich vein structures extending a total of 3.2 kms and averaging 19% copper across Bali’s ‘Deep South’ and ‘Conglomerate’ prospects.

Earthworks last year opened access for exploration of the Deep South and Conglomerate prospects where Norwest identified the surface projections of multiple high-grade copper bearing structures. Rock chips samples collected along the structures returned numerous assay results exceeding 20% copper. Fieldwork this year has identified a total of 9 narrow copper bearing structures and a copper rich conglomerate measuring up to 5 metres in width and trending on surface for over 700 metres.

The copper rich vein structures generally strike northwest across the Deep South & Conglomerate prospects being exposed at surface over a total distance of 3,200 meters. The structures are associated with near vertical dipping, laterally extensive, narrow shears zones striking NW-SE parallel to the main Bali Shear. The high-grade core of the shear zones comprises a chalcocite dense quartz vein breccia within intensely silicified and kaolinized host siltstones of the Ashburton Formation.

Assay results

All the rock chip samples were assayed in Perth by Intertek laboratories with the assay results correlating well with XRF analyser readings taken in the field.