The Fraser Range Project is located within the Albany Fraser Orogen approximately 100km east of Norseman and covers in excess of 500km² in a prospective portion of the Fraser Range. Constellation Resources Ltd (ASX: CR1) holds a 70% interest and manages and wholly funds exploration on the three granted Orpheus Joint Venture tenements (E28/2403, E63/1281 and E63/1282) and one mineral exploration licence application (E63/1695). Enterprise holds a 30% free carried interest to completion of a bankable feasibility stage (BFS) on any discovery.

Geology

In the Fraser Range, certain Proterozoic mafic/ ultramafic intrusion suites are prospective to host nickel-copper sulphide mineralisation. The region is currently experiencing high levels of exploration activity for nickel following the Nova, Silver Knight, Mawson and Lantern nickel discoveries.

The northern most Exploration Licence 28/2403 of the joint venture lies approximately 25km SSW of Legend Mining Ltd’s (ASX: LEG) Mawson nickel sulphide discovery, first reported in December 2019. (Figure 1).

Fraser Range Location Plan and Orpheus Joint Venture Tenements Note: E28/2403: 70% CR1, 30% ENT. E28/2738 & 2957 : 100% CR1