Projects

Buddadoo

Buddadoo

Project

(CZR 85%)

Copper/ Gold/ Vanadium-Titanium-Magnetite

The Buddadoo Project covers approximately 230km² and is located approximately 200 km east of Geraldton in the Mid-West region of Western Australia. The project hosts the Edamurta copper–zinc deposit and the Buddadoo vanadium–titanium-magnetite deposit. The project is located approximately 45 km west of the Golden Grove Cu–Au–Zn–Ag deposit and approximately 10 km west of the Deflector gold mine, owned by Silver Lake Resources (ASX: SLR).

The most advanced prospect is a 6 km-long and 300–500 m-wide, gabbro intrusion hosting massive and disseminated vanadiferous titanomagnetite within the Buddadoo Mafic Complex.

The Buddadoo Mafic Complex exhibits a west-to-east transition from titanium-rich to vanadium-rich mineralisation. Previous metallurgical testwork indicates that titanium occurs within the magnetic fraction as titanomagnetite, while a significant proportion also occurs in the non-magnetic fraction as ilmenite. The vanadium-enriched zone is reported to be entirely hosted within the magnetic fraction.

Geology and Prospectivity

The Buddadoo Project is located within the Murchison Province of the Yilgarn Craton, along the eastern margin of the Gullewa Greenstone Belt. The belt comprises north–south-striking greenstones consisting of mafic and felsic volcaniclastic rocks, banded iron formations (BIFs), minor sedimentary rocks and granites.

CZR has subdivided the gabbro into seven units based on variations in magnetic response and has tested two prospective ore systems: the Main Zone and Eastern Zone.

A total of 57 drill holes for 6,176 m has been completed within the Buddadoo Mafic Complex, comprising 8 diamond drill holes, 28 RC holes and 21 RAB holes. Reported results include:

188 m @ 0.34% V₂O₅, 9.38% TiO₂ and 27.45% Fe₂O₃ (BUDRC027).

18 m @ 0.66% V₂O₅, 18.00% TiO₂ and 48.94% Fe, including a 2010 diamond-drill intersection of 12.6 m @ 16.68% TiO₂ and 41.25% Fe (BUDRC027).

28 m @ 0.40% V₂O₅, 6.62% TiO₂ and 22.34% Fe₂O₃ (BUDRC017).

44 m @ 0.26% V₂O₅, 16.06% TiO₂ and 38.91% Fe₂O₃ (BUDRC018).

RC drilling has also been completed along priority targets associated with the Salt Creek Shear. Drilling intersected a range of alteration assemblages considered prospective for gold mineralisation.

Drilling has confirmed Edamurta as a mineralised volcanogenic massive sulphide (VMS) system. Reported intersections include:

3.2m at 3.8% Cu from 188.7m (EDH8);

4m at 1.5% Cu, 5g/t Ag, 0.1g/t Au from 104m (WHD-2);

7m at 0.9% Cu, 4g/t Ag, 0.1g/t Au from 112m (BDRC063); and

5.5m at 3.4% Zn from 99m (EDH4).

Recent moving-loop electromagnetic (MLEM) surveys over an approximately 2 km-long area have identified strong conductors at Edamurta representing accumulations of massive VMS copper and zinc sulphides.

Work Schedule

CZR is actively evaluating the potential of the Buddadoo Vandadium-Titanium-Magnetite project and is assessing all avenues for advancement. This includes geological modelling and assessment of existing drill data to progress towards a JORC compliant resource.

The company is in the final stages of review of its Reserve Access Management Plan (RAMP) that will be submitted for approval prior to drilling at the Edamurta Copper prospect.

Review of the wider copper and gold potential within the tenement is ongoing with several significant anomalies that require further evaluation and field checking.

A multi-commodity exploration and development company, with a track record in the discovery of high quality, commercially-scalable assets in Western Australia.

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