Aeon Metals Limited Provides an Update on the Proposed 2022 Exploration Activities At Its Walford Creek Copper-Cobalt Project
zone. A Collaborative Exploration Incentive (CEI) funded Airborne Electromagnetic (AEM) survey is targeted for July. Once the AEM survey is completed, one or both drill rigs will move to initial drill testing of the satellite targets identified following the 2021 magnetic and gravity surveys
as well as any additional targets generated from the planned CEI-funded AEM survey. At the completion of the 2021 in-fill drilling program at Vardy and Marley, three exploratory holes were drilled stepping out some 150 metres to the west of Vardy into the Le Mans prospect. These step-out
holes demonstrated the previously unrecognised presence of continued mineralisation within the PY1 unit, with a 60 metre periphery zone intersected over 50 metres away from the FRF. The Walford Creek geological model, based on the extensive drilling completed to date, anticipates
a continuation of the high grade mineralisation within the PY1 adjacent to the fault along the 2.1 km strike of this untested zone. This is similar to observations at the Vardy deposit. At Vardy 213550mE, drill hole WFDD202 intercepted 20 metres @ 0.52% CuEq, around 55 metres from the FRF in PY1. Drilling to the north (WR26 and WFDH445) within 25 metres from the FRF intersected 60 metres @ 1.79% CuEq and 28.2m @ 3.55% Cu Eq respectively.