In 2020 Enterprise entered into an Option Agreement with Mrs Vera Allen to purchase her Mandilla Gold Prospect (Exploration Licence 15/1437) located approximately 20 km south of Kambalda on the eastern margin of the Mandilla Syenite. In April 2023, the Company exercised its option to acquire the project.

Geology

Gold

Enterprise’s target is primary gold mineralisation, similar but higher grade than that already discovered on the western margin of the Mandilla Syenite by Anglo Australian Resources (“Anglo”, ASX: AAR) at its Mandilla Gold Project. Between 2006-2007, Anglo produced ~23,000oz Au from an open cut palaeo-channel located along the western margin of the syenite. Anglo has subsequently reported a bedrock resource of 646Koz at Mandilla East & South, on the western margin of the Mandilla Syenite. (Figure 1)

Lithium

In 2022, Enterprise retrieved and assayed 4 metre and 1 metre RC sample pulps where pegmatites had been geologically logged. Laboratory results included 12 metres at 0.45% Li2O from 52 metres depth in MERC010, with a peak assay of 0.97% Li2O% in MERC011 from 48-50 metres, within a longer interval of 8m @ 0.3% Li2O and 7m @ 0.4% Li2O in MERC011 (from 36m and 48m depths respectively). Lithium in weathered and fresh pegmatites remains open in all directions. (Refer ENT: ASX release 26 October 2022). Further RC drilling to extend the strike and dip of the pegmatites is planned.

E15/1437 Mandilla Geological Interpretation (Source Astral Resources Ltd)