Reynolds Range Project: Copper-Gold Exploration Update

Copper mineralisation identified during the recent sampling trip at the Reynolds Range Project

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We recently returned to Reynolds Range to follow up on a high grade, 182 g/t Au, rock chip assay at Sabre and assess two additional copper-gold prospects at Pine Hill and Stanley that we had not previously visited. While in the area we took the opportunity to follow up with additional sampling and mapping at the Falchion and Trout 2 gold prospects. Evidence for copper mineralisation was identified at both Pine Hill and Stanley with copper-stained rocks sampled from both locations. Gossanous quartz veins were identified at both Falchion and Trout 2 which have been known to host gold mineralisation within the district.

iTech eagerly awaits the results of the second rock chip sampling program to help develop the strong pipeline of copper and gold targets across the tenement package.

HIGHLIGHTS

  • iTech geologists visited the Reynolds Range Project in late July to follow up high grade copper and gold results from the previous sampling trip and examine previously unvisited prospects
  • Follow up mapping and sampling of the high-grade gold vein (182 g/t Au) at Sabre extended the zone of interest to over 280m
  • Additional mapping and sampling were undertaken at the Trout 2 and Falchion gold prospects
  • Two additional copper-gold prospects were mapped and sampled at Pine Hill and Stanley
  • Logistics and access requirements were identified in preparation for drilling at the Scimitar Copper-Gold target
  • Results from rock chip samples are expected in late August – early September.

Since launching the Share Purchase Plan (SPP) we’ve had a few investors asking for more details on our upcoming exploration plans and how we intend to use the funds raised. Hopefully this video helps answer those questions.

Topics covered:

• Defining the Scimitar Copper Gold drill targets

• Advancing the emerging lithium potential at the Reynolds Range

• Progressing the Eyre Peninsula Graphite Project

WHATS NEXT

The second phase of mapping and sampling, both following up high grade copper and gold rock chips from the first field trip and exploring unvisited prospect at the Reynolds Range Project, has provided iTech Minerals with significant encouragement to advance exploration for copper and gold at the project. In particular, the Scimitar Copper-Gold Prospect presents a drill ready target with a substantial electromagnetic target, coincident multielement soil anomaly and overlying rock chips, which remains untested by drilling. Access to drill sites have been established by previous explorers and remains open with excellent logistics for a near term drill campaign.

Assay results from the rock chip sampling are expected in late August/early September and will be reported to the market when available.

Geophysical consultants have been contracted to model and refine the electromagnetic drill targets at Scimitar and Reward, along with a review of regional targets. Drill permitting and landowner negotiations have commenced, and a drill contractor has been engaged to commence drilling at Scimitar in the coming months.

All conditions precedent on the tenement acquisition agreement with Prodigy Gold NL, have now been met with completion expected in the near future.

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