Bulgera Gold Project

HOLDING

100%

RESOURCES

Gold

PROJECT SIZE

39km²

LOCATION

200kms North of Meekatharra

Bulgera Gold Project

Overview

The Bulgera Gold Project is located 200kms north of Meekatharra in the 7moz gold Plutonic Well greenstone belt. The Bulgera gold trend is the offset-extension of the mafic-ultramafic mine sequence hosting the Plutonic Gold mine (+6moz) & Vango’s Marymia project (+1moz). Key infrastructure in the area includes power, water, airstrips, and accommodation. The Bulgera oxide ore was last processed at the Plutonic gold Mine in 2004 with the haul road still in place. Total historical production from the three shallow oxide pits is reported to be 441kt @ 1.65g/t.

Drilling Campaign

RC and diamond drilling completed in 2021 identified a new high-grade gold zone extending to over 500 metres down-dip of the shallow Bulgera open cut.

In early 2022 a new project block model and resource estimate increased the gold inventory to 5 million tonnes grading 1.2g/t for 200,000 ounces of gold.

The March 2022 JORC compliant Mineral Resource for the Bulgera Gold project applying a 0.6g/t lower Au cut-off stands at:

Assay Results

In late 2022 Catalyst Metals announced the acquisition of Vango Mining Ltd and its 1 million oz gold resource. In early 2023 Catalyst announced an agreement to acquire Superior Gold Inc. who own the Plutonic Gold operation. Norwest is now considering the opportunities created regarding Bulgera’s 200,000 ounces gold resource and the Company’s 270km² Marymia East tenement package.

A haul road exists between the Plutonic gold operation and the Bulgera gold deposit. A mine designed, which includes 3 open pits and site layout, was completed mid-last year and a final Mining license application was lodged with the DMIRS and approved without issue.

Preliminary metallurgical testing was undertaken by ALS Global Metallurgical Services on three representative Bulgera gold RC samples. The average gold grades for the three samples were 1.74g/t, 4.43g/t and 8.66g/t respectively. All 3 gold samples returned excellent flow sheet and processing characteristics including:

High gravity separation and mercury amalgamation of the gravity concentrate to yield significant free liberated gravity recoverable gold (GRG) of 28.80%, 39.08% and 47.46% for composites 1 to 3 respectively.
High total extractable gold (via gravity plus standard leach) for composite 1 to 3 with overall gold recoveries of 95.6%, 92.6% and 98.3% respectively.
Fast gold leach kinetics for all gravity leach tests with the majority of the gold leaching in the first 2-4 hours.
Low sodium cyanide and lime consumption rates with Perth tap water for all leach tests.

Bulgera Project Location Map

Map of Bulgera gold deposits /
prospects with +100m drill holes

The Bulgera project model showing target zones having potential for shear hosted gold mineralisation below 100 vertical metres

Drilling Program

Norwest’s deep drilling success below the Bulgera open cut has encouraged the Company to plan similar exploration drilling programs below many of the historical gold deposits and prospects located across the Bulgera project tenements.

The increase in gold tenor below 100 vertical metres has not only been recognized at Bulgera but also below many other gold zones discovered along the Plutonic Well greenstone belt.

The Bulgera gold trend is the extension of the Plutonic (+5.5moz)^[^1] and Marymia (+1moz)^[2] mafic-ultramafic mine sequence where drilling has shown that gold tenor increases with depth. The nearby Marymia (Vango Mining ASX: VAN) drilling within the mafic-ultramafic mine sequence has consistently shown that the highest gold grades are located below 100 vertical metres which is evidenced by their many ASX announcement.

Drilling plans

The Company is now reviewing the project-wide Bulgera RC drill hole database. The aim is to identify deeper targets having potential to host gold lodes similar to the recently discovered Bulgera ‘main shear’ zone. Most of the historical gold prospects have only been tested above 100 vertical metres by RC drilling. The images above depict where deeper RC drilling has the potential to intersect one or more high-grade lodes and significantly add to the Bulgera project’s 200,000- ounce gold inventory.

The Company notes the successful consolidation of the Plutonic Well – Marymia region by Catalyst Metals who have announced the acquisition of Vango Mining Ltd^[3]and agreement to merge with Superior Gold Inc., owner of the Plutonic Gold Mine.^[4] Norwest is now considering the potential synergies created by this regional development and the Company’s 270km² neighbouring Marymia East & Bulgera tenement package which includes the 200,000 ounces, near surface, gold resource. A haul road exists between the Plutonic gold operation and the Bulgera gold deposit. A mine designed, which includes 3 open pits and site layout, was completed in mid-last 2022.

1. Superior Gold Inc., Website www.superior-gold.com & Resolute Ltd Marymia production

2. ASX: VAN – Announcement 20 May 2020, ‘Marymia Minerals Resource Increases to One Million Ounces’

3. ASX: CYL – Announcement 21 March 2023, ’Catalyst completes acquisition of Vango Mining’

4. ASX: CYL – Announcement 24 February 2023, ’Catalyst to acquire Plutonic Gold Mine’