Duke Exploration : Significant Breccia Mineral System Copper Intersections

ASX ANNOUNCEMENT | ASX: DEX	Media Release
	02/06/2022

only	BUNDARRA PRIMARY TARGET QUORN RC DRILLING PROGRAM UPDATE
Significant Breccia Mineral System Copper Intersections Confirmed at
'Quorn'; Resource Delineation Next Step
Duke Exploration Limited (ASX: DEX) ("Duke") is pleased to announce further preliminary results from
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the reverse circulation (RC) drilling program that commenced in February 2022 at its flagship Bundarra project. This update is for 9 drill holes totalling 1627 m that have been completed at the Quorn Prospect. The Quorn investigation is part of the scout drilling program focussed on primary targets located in the southwestern portion of the Bundarra Intrusive Complex (BIC).

										KEY POINTS
personal	The Quorn drilling has tested	both breccia	and peripheral	structurally controlled copper
	
		mineralisation.
	 Significant developments have been the intersection of highly anomalous copper mineralisation
		with associated hematite dusting which extends the downhole extent of the Quorn mineral system
		to over 300m. The hematite dusting alteration style is a common element of Iron Oxide Copper
		Gold (IOCG) mineral systems, and the Quorn intersections require more drilling and petrochemical
		evaluation.
	 The following significant intercepts are highlighted:
				Hole ID			From (m)			To (m)			Width (m)			Cu %			Host Rock
							4			45			41			0.58			Breccia
				BNRC019		180			211			31			0.40			Breccia
For					244			247			3			0.45			Breccia
				277			295			18			0.29		Hematite
				BNRC023		13			18			5			0.49			Porphyry
				BNRC024		107		113			6			0.37		Shear Zone
							197			205			8			0.43			Breccia
				BNRC025	284			307		23			0.19		Hematite
							315			334			19			0.45			Hematite
				BNRC026		133			141		8			0.62			Shear Zone
				BNRC027		34			50			16			0.33			Breccia
				BNRC028		28			43			15			0.26		Breccia
						50			60			10			0.22			Breccia

Duke Exploration Limited | ABN: 28 119 421 868

P.O. Box 2057 Ascot QLD 4007

E: [e-mail]| www.duke-exploration.com.au

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KEY POINTS

• Follow up resource delineation drilling is planned on Quorn to further evaluate the hematite alteration "flush" at depth plus the dimensions and copper tenor of both the breccia and shear hosted targets.

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Figure 1: Cross Section showing the features of the Quorn mineral system - breccia zone extending down to intense hematite - silica alteration zone (open ended; 19m @ 0.45% Cu; 18m @ 0.29% Cu)) with visible chalcopyrite and cross cutting porphyry plus Hornfels hosted mineralisation (8m @ 0.43% Cu; 16m @ 0.33% Cu).

The Quorn investigation is part of the scout drilling focussing on primary targets that are located in the Forsouthwestern portion of the (BIC). These targets were previously identified as a direct result of the extensive exploration program conducted in Q3 and Q4, 2021 including soil sampling, geological ground truthing and assessment, Gradient Array Induced Polarisation surveys, VTEM and airborne magnetics analysis over the entire BIC plus a 5-hole diamond drilling campaign completed in January

2022.

Duke Exploration Limited

www.duke-exploration.com.au

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Commenting on the Quorn RC Drilling results to date - Philip Condon, MD:

"We are very pleased to report the first pXRF results from the Quorn RC drilling program. Quorn is part
of the first round of RC scout drilling and follows the successful diamond drilling campaign during Q4
2021 and Q1 2022 outside of our Mt Flora resource area. These drilling results are very encouraging in
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two primary ways. The first is the confirmation that the Quorn Breccia mineral system appears to be
intermittently mineralised to over 300m depth and is open ended at present. Secondly, the deeper
i	tersections starting at around 300m vertical depth of zones of intense hematite - silica alteration are
i	dicating affinities to an IOCG mineral system. This is an extremely exciting development and will be
followed up with further diamond drilling. The RC priority target scout drilling program elsewhere on

the Bundarra property is continuing with drilling on the priority targets on the northern side of the BIC
currently underway.
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FUTURE WORK PROGRAM - Quorn Prospect
Future work at Quorn will involve a combination of the following:
personal	• Deepening by 150-200m one of the RC drillholes by diamond drilling to explore the Hematite
dusting alteration and related chalcopyrite mineralisation;
• 3-D Geological modelling of the breccia, shear zones and alteration;
	• Whole rock geochemical analyses of the altered intrusive at depth;
	• Resource delineation drilling to an Inferred category (Phase 1) followed by Phase 2 to Indicated
	if results warrant; and
	• Integration of Quorn geological data into assisting targeting for the Quorn N scout drilling.
Cautionary Statement

Duke is doing its best to mitigate the impact of slow lab turnaround time and as such has taken the decision to report preliminary portable X-Ray Florescence (pXRF) analyser readings taken from each metre of RC drill chips, which are indicative of the presence and tenor of copper mineralisation.

The pXRF measurements of copper from RC chips are preliminary in nature and should be considered Foras an indication of the expected order of magnitude from final laboratory analysis. Previous data collected by Duke shows a strong positive correlation between pXRF and laboratory analyses for copper from RC drilling in the BIC. The analyses that are the subject of this report are all from samples that have been submitted for laboratory analysis and final results will be reported when available. It is

expected that the final results will vary from those reported here.

Duke Exploration Limited

www.duke-exploration.com.au

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This announcement has been authorised for release by the Board.

Philip Condon	Toko Kapea
Managing Director	Chairman
[e-mail]	[e-mail]
Ph [phone]	Ph [phone]

Duke Exploration Limited

www.duke-exploration.com.au

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Bundarra RC Drilling Update

The current RC drilling program is scout testing high ranking prospects that are the most likely areas to host significant mineralisation with high grade and/or a large extent. New targeting techniques have been tested and confirmed through recent diamond drilling, which provided important geological and structural information. onlyStructural and alteration targets generated from a recent geophysics data synthesis and interpretation are also

being integrated into the drilling program 1. This update presents results to date of pXRF analyses of RC chips for the Quorn Prospect (Figure 2 and 2).

The current RC drilling has successfully increased the vertical extent of the Quorn mineral system from 100 m to

ver 300 m. Newly discovered zones at depth are related to a very siliceous intrusive with ubiquitous hematite

dusting and broad zone of copper mineralisation (see below).

Shear hosted mineralisation is also apparent peripheral to the Quorn breccia. Future resource delineation drilling
is planned for Quorn during Q3 and Q4 2022.
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	Figure 2: Location of the Quorn Prospect current RC drill holes relative to the BIC and Mt Flora.

1 20220518 DEX Bundarra Geophysical Data Synthesis Generates New Copper Targets.

Duke Exploration Limited

www.duke-exploration.com.au