The project includes 2 main deposit areas, comprising Jinkas in the north, and Dingo in the south. The Jinkas area is subdivided into a set of named mineralised zones including Jinkas Hangingwall, Jinkas Footwall-White Dam, Jackson, and Olympia lodes.

The majority of the project area is overlain by residual clays, with outcrop mostly limited to remnants of lateritic duricrust on topographic highs.

Gold mineralisation is hosted by medium to coarse-grained mafic gneisses, which dip at around 30° - 45° towards grid east (68°). These units represent Archaean greenstones metamorphosed to granulite facies.

The mineralised gneissic units are interlayered with barren quartz-monzonite sills up to approximately 120 m thick and are cross-cut by several Proterozoic dolerite dykes that post-date mineralisation and granulite metamorphism.

Gold predominantly occurs as free gold associated with disseminated pyrrhotite and magnetite, with lesser amounts of pyrite and chalcopyrite and traces of molybdenite. Thin remnant quartz veins are associated with higher grade zones.

The gold mineralisation at the KGP is localised along its eastern boundary by a regionally significant thrust fault-bound block which extends over at least 17 km of strike length. Thrust faults also define the eastern and western boundaries of the rocks hosting the gold mineralisation. The gold mineralisation is localised into three laterally continuous lodes which extend for over 7 km of strike length. These lodes are defined from the west to east as the Jackson–Dingo lode, White Dam lode and Jinkas lode.

The mineralised lodes contain shallowly plunging high-grade ore shoots which are interpreted as fold axes of the tightly folded and metamorphosed mafic host rocks. The overall KGP is broadly folded along an east–west axis. The gold mineralisation on the northern limb (Central Zone) plunges 18° towards the NNE. This plunge reverses on the southern limb (Southern Zone), plunging 9° towards the SSE.

The mineralised lodes follow the gneissic foliation, with mineralisation being correlated between holes and drill sections following this trend. Geological logging of drill holes has been used to interpret major geological boundaries and develop a 3D geological model. Wireframing of the gold mineralisation (>0.3 g/t Au) was based on drill hole data and honoured the geological boundaries.

Mineral Resource estimates are reported using a 0.6 g/t Au cut-off grade and reporting has been limited to a depth of approximately 150 m below surface.

The gold mineralisation occurred in separate lodes folded around a quartz monzonite sill separating gold mineralisation. The most significant in terms of contained ounces is the Jinkas–White Dam lode, representing a single folded lode. The Jinkas lode is reported above the quartz monzonite and White Dam lode below the quartz monzonite. The quartz monzonite is interpreted to have intruded during peak metamorphism and after mineralisation. The quartz monzonite forms the core of a major tight WNW-plunging synform; it follows the northerly plunge and extends over a 4,200 m strike length. It is thickest at the Olympia resource area and thins towards the south, to the Rifle Range prospect where it is eroded at surface.

Jinkas has one primary lode adjacent to the quartz monzonite and 25 defined secondary subparallel lodes, striking NNW and dipping at approximately 35° to the ENE. The Jinkas lode is defined along a 3,300 m strike length and extends 480 m down dip. The primary Jinkas lode is between 10 m and 25 m thick and the secondary lodes are on average between 3 and 5m thick.

White Dam consists of the hangingwall lode, which is the folded continuation of the Jinkas footwall lode. Two additional lodes lie approximately 20 m beneath the main hangingwall lode and 30–50 m above the Jackson lodes. The revised model connects the White Dam and Jinkas lodes through the thickened Jinkas South fold hinge position, which extends over a strike length of approximately 3,300 m. The primary White Dam lode is between 10 m and 25 m thick and the secondary lodes are between 3 m and 5 m thick.

The Mineral Resource estimates for Jinkas–White Dam were prepared from a total of 26,195 lode composites from 1,147 drill holes. Drill spacing is variable and ranges from 20 m to 40 m along section lines at a spacing of 20–80 m. The dataset comprises a mix of shallow vertical holes (mainly on the western side of the deposit) and deeper holes angled at 60° towards 244°.

The Mineral Resource estimates for the Olympia deposit were first reported in the 2018 Mineral Resource announcement. Drilling to the north, along strike from Jinkas, has demonstrated continuity between the two deposits, despite some displacement from interpreted strike-slip faults.

Interpretation of a revised model consisting of 24 mineralised lodes extending over a strike of 1,500 m shows mineralisation remains open along strike to the south and north. The Mineral Resource estimates were prepared from a total of 902 (1 m) lode composites from 118 drill holes, where drill spacing is variable and ranges from 30 m to 100 m aloong 20–100 m spaced section lines. This included 246 new lode composites from 36 drill holes completed since the December 2021 model update. Most holes are angled at 60° towards 244°.

Jackson consists of 32 subparallel lodes striking to the NNW and dipping at approximately 30° to the ENE. The Jackson lodes are located approximately 30–50 m below the White Dam lodes. The Jackson lodes have defined strike lengths up to 5,000 m and dip extents ranging from 285 m to 624 m. Lode thicknesses average between 3 m and 5 m. The lodes have been interpreted from the surface to a depth of 160 m.

The Mineral Resource estimate for Jackson was prepared from a total of 5,137 (1 m) lode composites from 1,665 drill holes. This included 791 new lode composites from 138 drill holes completed since the December 2021 model update. Hole spacing is variable and ranges from 20 m to 60 m along 30–120 m spaced drill lines. The dataset comprises a mix of shallow vertical holes (mainly in the southern half and on the western side of the deposit), and deeper holes angled at 60° towards 244°.

The Mineral Resources for the Dingo deposit were re-estimated based on a revised geological and mineralisation model derived from new drilling. The estimates were prepared from a total of 8,946 (1 m) lode composites from 457 holes, including 47 new holes with 929 (1 m) composites. The Dingo deposit occurs as a standalone deposit in the Southern Zone of the KGP, extending over 1,900 m of strike and dip extents ranging from 220 m to 420 m. In all, 16 mineralised lodes were interpreted. The average lode thickness is approximately 5 m.

The Project will be mined by open pit mining methods using conventional mining equipment. The final pit design is based on the Ore Reserve. The selected mining method, design and extraction sequence are tailored to suit orebody characteristics, minimise dilution and ore loss, defer waste movement, minimise rates of vertical mining advance, utilise planned processing plant capacity and expedite free cash generation – all in a safe manner.

The open pit scheduling is based on realistic mining productivity, with readily achievable mining rates and consistent material movements. The mining operating costs are based on contractors' budgeted quotes for drilling, blasting, loading and haulage, and were reviewed using first principles.

Whittle open pit optimisations were completed using the resource model created by Ausgold. The model was built with block dimensions approximating an SMU of 2.5 m by 2.5 m by 2.5 m and therefore includes sufficient dilution and ore loss for this level of study.

Pit optimisation, excluding Inferred Mineral Resource material and applying a 0.6 g/t Au cut-off grade, produced a pit shell containing 36.5 Mt of mill feed at an average grade of 1.30 g/t Au.

Pit shell selection considered both the overall project value and the current design capacity of the tailings storage facility (TSF). Based on this, the 0.85 revenue factor (RF=0.85) pit shell was selected for the pit design; however, the larger RF=1 pit shell was also used to ensure that no additional potential ore was sterilised at this early phase of development.

Pit designs have resulted in a near-continuous pit over a 4.5 km strike length with only a few breaks between the Olympia and Jinkas deposits. Designs have been completed to include pit staging to allow access to early higher grades around the main Jinkas deposit, then cutbacks to access the deeper ores later in the mine life. The final pit design also allows for multiple mining areas, which is favourable for managing ore blending and timing of development activities.

Waste dumps were located adjacent to the pit, on the western side, but allowing access to be maintained along most of the existing roads. The dump locations also take the requirements to supply waste for the tailings dam construction and preserve the remnant native bushland into consideration. Sufficient volume has been designed for all the waste mined, inclusive of a 25% swell factor.

A production plan was generated around the mining inventory which targeted 3.0 Mt/a of ore processing and a mining rate limitation of 33 Mt/a. These targets can be achieved for a mine life in excess of 10 years.

The schedules show that a fleet of three 150–200 tonne class excavators can meet the production rate required. These excavators are well matched to 100–135 tonne capacity trucks, with a fleet likely to consist of between 10 and 12 trucks.

This production plan can achieve the 3.0 Mt/a milling rate. This is based on a mining rate that requires a vertical advance rate of less than 20 m per annum per pit, which should be achievable with an efficient mining crew.

- subscription is required.

Ausgold engaged GR Engineering Services Limited (GRES) to develop the PFS processing plant design and associated cost estimates. The processing plant will treat a blend of oxide, transitional and fresh gold-bearing ores from the open pits at the KPG and is designed to operate at a throughput capacity of 3 Mt/a. The processing plant flowsheet was based on the results of metallurgical testwork and process calculations, estimations and assumptions using the following unit processes:

- primary crushing;
- ore bin;
- comminution, including semi-autogenous grind (SAG) milling, ball milling and pebble crushing (SABC) circuits;
- gravity gold recovery;
- pre-leach thickening;
- carbon-in-leach (CIL) circuit;
- elution and gold recovery;
- tailings disposal.

The gravity circuit will consist of one centrifugal concentrator treating a portion of the cyclone underflow. Gravity concentrate will be intensively leached in a ve ........