The Capital Project is located in the the Lachlan Fold Belt, near Goulburn, in NSW and comprises three Exploration Licence Applications (ELA5955, ELA5956 and ELA5987) totalling 372km2.

The Project was acquired in June 2020 and the ELAs have been approved for granting.

It covers a possible extension of the stratigraphy and structure that hosts Sky Metals’ (ASX: SKY) significant Hume gold discovery at its Cullarin Gold Project in the region (see Figure below. The Capital Project area also displays similar host stratigraphy and structures to Regis Resources’ (ASX: RRL) major McPhillamys Gold Project in the Lachlan Fold Belt, in Central Western NSW.

The Capital Project has not been explored for gold to date. The mineralisation styles in the belt exhibit thickness and grade – and is supported by exploration success in the sediments of the Lachlan Fold Belt. This type of gold mineralisation style fits the Aruma sediment-hosted gold model.

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The Capital Project area (red outline) also showing Sky Metals’ Cullarin Project area, and old gold
workings at the Shinglehouse Creek (tan ellipse) and Bywong-Macs Reef (green ellipse) areas.