CAPRICORN GOLD-COPPER BELT PROJECT

LE Minerals has secured rights to acquire up to 100% interest in a number of contiguous exploration tenements in Central Queensland that are prospective for gold, porphyry copper and VMS mineralisation.

The Capricorn Gold-Copper Belt Project tenements surround the historically prolific Mt Morgan gold mine in Queensland (Mt Morgan Mine) which operated from 1883 until 1981, producing ~50 Mt of ore at 4.99 g/t Au and 0.72% Cu, containing 7.65 million ounces of Au, 1.2 million ounces of Ag and 360kt of Cu.

Figure 1: Location Map of Capricorn Gold-Copper Belt Project showing geological setting

The Capricorn Project contains multiple targets for gold, copper, molybdenum and zinc mineralisation, including over 30 km of strike length of the Middle Devonian age Mt Morgan Intrusive Complex which is interpreted to be the source of the Mt Morgan Mine gold and copper mineralisation.  The Mt Morgan Mine itself is not included in the Capricorn Project, though one focus of exploration activity for gold will be to test for repeats of Mt Morgan style gold mineralisation along strike within the Project area.

The Company plans to undertake an extensive program of exploration using modern geophysical techniques. (including the use of advanced 3D analytics which will be applied to historical and new data) to guide an extensive drilling program over identified priority areas, targeting multiple large-scale Au, Cu, Mo, and Zn mineralised systems.