Traka Resources : Initial drill results Revelation and Ellendale Prospects

ASX/Media Announcement

only

15 December 2021

Wide gold-silver-copper intercepts in initial drilling highlight potential of the Mt Cattlin Project, WA

Encouraging initial results from the Ellendale Prospect and significant DHEM anomalies use

identified at Revelation; ~80% of assays from a 5,000m RC and diamond drill program

awaited

Key Points:

• Highly encouraging results received in the initial batch of assays from recently completed drilling at the 100%-owned Mt Cattlin Gold-Copper Project in WA.
• RC drilling at the Ellendale Prospect intersected wide mineralised zones:

1. 19m @ 1.25g/t Au, 0.38g/t Ag and 0.05% Cu from 18m down-hole, including:
2. • 1m @ 5.45g/t Au, 1.59g/t Ag and 0.05% Cu (RAGC072)

1. 11m @ 2.5g/t Au, 2.94g/t Ag and 0.29% Cu from 77m down-hole, including:
2. • 1m @ 11.8g/t Au, 1.0g/t Ag and 0.11% Cu; and
   • 2m @ 3.05g/t Au, 3.39g/t Ag and 0.29% Cu (RAGC 073)

personal	o 8m @ 1.21g/t Au, 0.8g/t Ag and 0.05% Cu from 44m down-hole (RAGC070)
• Initial RC drilling and down-hole electromagnetic (DHEM) surveys at the Revelation
		prospect indicates that gold-copper mineralisation intersected previously is associated
		with a steeply-dipping intrusive body about 400m in length.
		• An RC hole has been completed into the core of this body, with assays awaited.
		• Overall, the recently completed program at Mt Cattlin consisted of ~5,000m of Reverse
For	Circulation drilling and of diamond drilling. Assays are awaited for ~80% of these samples,
which are expected to be progressively received in January 2022.
	Traka Resources Limited (ASX: TKL; Traka or the Company) is pleased to report encouraging initial
	assay results from the recently completed drilling program at its 100%-ownedMt Cattlin Gold-Copper
	Project, located immediately adjacent to the Mt Cattlin lithium mine in the Ravensthorpe Greenstone Belt
	in the south-west of Western Australia.
				__
	ASX: TKL	Ground Floor	Tel: [phone]
	ABN 63 103 323 173	43 Ventnor Avenue	Fax: [phone]
	West Perth 6005	www.trakaresources.com.au
			Western Australia	[e-mail]
				1

Initial drilling at the Ellendale Prospect, located in the central part of the Mt Cattlin Project, has returned wide gold-silver-copper intercepts below extensive historical workings.

onlyInitial drilling and down-hole electromagnetic surveys (DHEM) have also highlighted the potential for a large-scale mineralised structure at the Revelation Prospect (1), identifying a large, steeply-dipping intrusive body ~400m long.

The results continue to highlight the excellent potential of the Mt Cattlin Gold-Copper Project to host significant mineralisation.

The locations of the key prospects within the Mt Cattlin Project are shown in Figure 1 below.

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ForFigure 1. Aeromagnetic image of the Mt Cattlin Gold-Copper Project showing key prospects. The image shows the northeast trending gold soil geochemical anomaly extending over 1km between Plantagenet-Ellendale-Revival.

The Ellendale Prospect:

A total of seven RC (Reverse Circulation) drill-holes were completed at Ellendale to investigate a 200- metre-long portion of the historic Ellendale mine workings.

The Ellendale workings are shallow (<10m) and narrow (1m) but were noted to coincide with an untested gold soil geochemical and aeromagnetic anomaly that extends over a strike length of 1 kilometre between the Revival Prospect to the north-east and the Plantagenet Prospect to the south-west (Figure 1) (2) (3). The mineralisation now intersected under Ellendale is far wider and more extensive than indicated on surface.

Mineralisation was found to be hosted in a steeply-dipping zone of porphyritic and doleritic intrusive with low-grade copper mineralisation occurring in zones of up to 30 metres. Several gold lodes occur within this zone.

A selection of the significant intersections are presented below, and a full tabulation is provided in Table 1 and 2:

	o 19m @ 1.25g/t Au, 0.38g/t Ag and 0.05% Cu from 18m down-hole, including:
only	§ 1m	@ 5.45g/t Au, 1.59g/t Ag and 0.05% Cu (RAGC072)
o 11m @ 2.5g/t Au, 2.94g/t Ag and 0.29% Cu from 77m down-hole, including:
§ 1m	@ 11.8g/t Au, 1.0g/t Ag and 0.11% Cu; and
	§ 2m	@ 3.05g/t Au, 3.39g/t Ag and 0.29% Cu (RAGC 073)

1. 8m @ 1.21g/t Au, 0.8g/t Ag and 0.05% Cu from 44m down-hole (RAGC070)

useThe location of these holes is shown in plan view in Figure 2 below. personalFor

Figure 2. An aeromagnetic image with a gold soil geochemical anomaly draped over it showing the Ellendale Gold Mine workings and drill-hole positions.

Figures 3 and 4 are cross-section examples showing the nature of the gold and copper mineralisation
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intersected at Ellendale.
For	Figure 3. A cross-section example of the mineralisation intersected at the Ellendale Mine.

For personal use only

Figure 4. A cross-section example of the mineralisation intersected at the Ellendale Mine.