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)