Traka Resources : Quarterly Activities Report, App5B Cash Flow and Tenements

ASX/Media Announcement

only	20 January 2022
	December 2021 Quarterly Activities Report
	Drilling at the Mt Cattlin Gold-Copper Project delivers high-grade gold intersections
use	within wide zones of copper mineralisation, with further assays awaited
RC and diamond drilling completed at the Mt Cattlin Project in early December.
•
•	Results received to date highlight the presence of high-grade lodes within wide zones of
	low-grade copper, with highlights including:
•	Ellendale:
o	19m @ 1.25g/t Au, 0.38g/t Ag and 0.05% Cu from 18m down-hole, including:
personal	• 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 (RAGC073)
	8m @ 1.21g/t Au, 0.8g/t Ag and 0.05% Cu from 44m down-hole (RAGC070)
•	Plantagenet:
o	2m @ 5.40g/t Au, 0.86g/t Ag and 0.05% Cu from 23m down-hole, including:
	• 1m @ 10.50g/t Au, 1.28g/t Ag and 0.07% Cu (RAGC083)
o	3m @ 6.73g/t Au, 0.51g/t Ag and 0.04 Cu from 38m down-hole, including:
	• 1m @ 11.5g/t Au, 1.28g/t Ag and 0.10% Cu (RAGC083)
o	3m @ 4.14g/t Au, 0.26g/t Ag and 0.03% Cu from 42m down-hole (RAGC083)
o	4m @ 15.07g/t Au, 0.16g/t Ag and 0.03% Cu from 61m down-hole, including:
For	• 1m @ 57.40g/t Au, 0.41g/t Ag and 0.02% Cu (RAGC084)
	4m @ 18.52g/t Au, 1.3g/t Ag and 0.05% Cu from 14m down-hole, including:
	• 2m @ 34.35g/t Au, 1.95g/t Ag and 0.03% Cu (RAGC086)
•	Seven prospects were drilled, spanning an area of several square kilometres, and all are
	considered part of a single, large porphyry intrusive complex.
•	Results received to date highlight a mineralised trend extending over 1km between the
	Plantagenet and Revival Prospects, indicating compelling potential for the delineation of
	a large tonnage, near-surface resource along this trend.
•	Preliminary drill results from the Grafter Prospect indicate the presence of a mineralised
	gold-copper trend extending over 500m to the old Bullrush Prospect.

Mt Cattlin Gold-Copper Project

A Reverse Circulation (RC) and diamond drilling program was completed at the Mt Cattlin Gold-Copper Project in early December. The program totalled 4,895 metres and tested seven of the eight targets originally planned, with the program cut short due to delays caused by a late start, wet weather, drill operational issues and harvesting (Figure 1, Table 1).

onlyAll drill sample results have been received for the Ellendale, Grafter and Plantagenet Prospects, with partial results received for the Revelation Prospect and all assays currently outstanding for the Sirdar, Revival and Maori Prince Prospects. The turn-around times for assay results has extended past the originally expected six-week period due to a backlog of work in the laboratory - an issue that is currently prevalent across the mining industry.

usepersonalFigure 1. An aeromagnetic image of the Mt Cattlin Gold-Copper Project showing the prospect positions, gold soil geochemical anomalism and the extent of the circular shaped intrusive complex.

ForEllendale Prospect

Seven RC drill-holes have been completed on the Ellendale Prospect (Figure 2) (1). The drilling was completed along a 200m-long portion of the north-easterly trending line of old mine workings coincident with gold-in-soil geochemical and aeromagnetic anomalism. The geochemical and aeromagnetic anomalism extends over 1km from the Plantagenet Prospect to the south-west and the Revival Prospect to the north-east.

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

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

this zone (Figures 3 and 4).

A full tabulation of the results is provided in Tables 1 and 2.

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Figure 3. A cross-section example of the mineralised intercepts at the Ellendale Prospect

onlyuse personalForFigure 4. A cross-sectionexample of the mineralisation intersected at the Ellendale Mine.

Plantagenet Prospect

Five RC drill-holes were completed at Plantagenet to test under the historical mine workings (Figure 5). The mine workings are shallow (<5 metres) and have most likely exploited supergene enriched gold mineralisation in the soft weathered rock. A coincident aeromagnetic plus soil geochemical anomaly overlies Plantagenet and these anomalies extend in a north-easterly trend over a distance of approximately 1km through the Ellendale and Revival Prospects (2).

The high-grade gold intersected at Plantagenet occurs as discrete zones within wide, strongly anomalous copper mineralisation hosted in porphyritic intrusive rocks and basalt (Figures 6 and 7). The mineralisation intersected at depth is wider and more extensive than indicated from surface workings and therefore resembles the results previously returned from drilling at Ellendale (1).