Project 2: Murtoa Gold

IOCG Copper-Gold-Uranium Target | Gawler Craton, South Australia

Project Name	Carrapateena
Ownership	BHP
Explorer	100% Cartwheel Resources Pty.
Location	Carrapateena, Victoria
Size	X KM2
Mineralization	Iron oxide copper-gold (IOCG) Uranium, Rare Earths
Mineralized Corridor	X km x Y km
Total Drilling	X km (Y holes)
Infrastructure	All-season road access, power
Accessibility	Year-round access enables cost-effective and continuous exploration.
ESG commitment	??

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Highlights

Zoned for restaurants and retail

Ample customer parking

Traffic-heavy location

Type: Commercial

Project Summary

Murtoa Gold is a 774 km² exploration project (EL6548) in western Victoria’s historic gold district. Cartwheel Exploration holds 95% ownership of this prospective tenement.
The project is located in an established gold district with good road access, enabling year-round exploration activities.

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Geology & Targets

Geological Setting

The project area is characterized by basalt dome structures overlying deeper gold-bearing systems. Geological modeling indicates surface intercepts represent gold eroded from a primary mother lode source at 2,000-3,000m depth.

Mineralized Corridor

The geological model proposes gold-bearing fluids migrated upward through structural conduits within the basalt domes, creating near-surface mineralization. The primary deposit at depth is expected to host significantly larger tonnages and potentially higher grades than the surface expression.

Target Model

Systematic exploration planned to test the deep primary source deposit using advanced geophysical surveys and three-dimensional geological modeling combined with strategic drilling.

1.6 Billion Years Ago

GAWLER CRATON FORMATION
South Australia, part of Gondwanaland, experiences the world’s largest acid rock eruption—25,000 cubic kilometers creating the Gawler Craton with Lake Gairdner at its center

June 1997

LICENSE APPLICATION
Rudy Gomez applies for exploration licence on Lake Gairdner after CRA Exploration abandons their licence, recognizing the area’s potential

June 2005

CARRAPATEENA DISCOVERY
Rudy Gomez discovers Carrapateena copper-gold-uranium-REE deposit, subsequently acquired by BHP and developed into a major operating mine employing hundreds

2023

BREAKTHROUGH AT ANOMALY 1
After 26 years of seeking access, 2 drill holes at Anomaly 1 produce potassium, rare earth elements, and critical metals potentially

2024-2025

EXPLORATION PROGRAM
Exploration program planned to explore 16 anomalies.

Drilling Results & Exploration Potential

Phase 01

Initial Discovery (Complete)

Previous drilling completed in EL6548

Exceptional high-grade intercepts confirmed:

KD003: 4.82m @ 12.6 g/t Au (plus 4.2m @ 3.5 g/t Au, 2.3m @ 2.2 g/t Au)

KD005: 6.85m @ 10.2 g/t Au

Geological modeling developed for depth targeting

Phase 02

Geological Modeling (In Progress)

3D geological modeling to locate primary gold source

Target depth: 2,000-3,000m beneath basalt dome structures

Integration of structural analysis and geophysical data

Identification of deep drilling targets

Phase 03

Deep Target Drilling (Planned)

Strategic deep drilling program to test mother lode source

Advanced geophysical surveys to refine drill targets

Systematic testing of basalt dome-hosted gold systems

Multiple drill holes to define extent of primary mineralization

Phase 04

Resource Development (Future)

Resource estimation from deep drilling results

Preliminary economic assessment

Metallurgical test work for gold recovery optimization

Infrastructure and development planning

Exploration

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