E70/4952 (Bullock North Project) showing interpreted greenstone rocks and previous soil and auger samples, and drilling. Note: the geology is based on geophysical interpretation and modelling as explained in the Independent Technical Assessment Report within Cygnus’ Prospectus dated 22 November 2017.

The Bullock North Project straddles the boundary between the Boddington Terrane to the west and the Lake Grace Terrane to the east. However, only minor disjointed outcrop, comprising Proterozoic dolerite and Archaean felsic to mafic granulites and gneisses, has been recorded in the area.

A total of 949 surface geochemical soil, laterite and calcrete samples were collected within the Bullock North tenement by previous explorers. Seven of these samples returned assay values equal to or greater than 10 ppb Au, with a maximum value of 25 ppb Au. Cygnus believes given the presence of a broad Tertiary drainage channel much of this sampling probably represents transported cover.

Limited auger drilling across a topographic high in the northern part of Bullock North returned anomalous assay values up to 41 ppb Au, which is considered significant.