Howlong and Jindera Gold Project - NSW

Allegro boasts two exploration licenses in the southern region of the Lachlan Fold Belt of NSW, namely EL9522 - Howlong (covering 128km²) and EL9579 - Jindera, covering 72km², situated 30km and 10km northwest of Albury, respectively.

The Howlong and Jindera Projects include a large land holding and an Inferred Mineral Resource estimate completed at the Traist Prospect in 2018 of: 8.64Mt @ 0.9g/t Au and 7.3g/t Ag for 244koz of gold and 2Moz of silver.

With a number of drill-ready exploration targets and million-ounce gold potential, our Company has firmly established itself as a dominant force in the region. Moving forward, we are committed to swiftly advancing these targets, with our sights set on rapidly growing the Mineral Resource via a targeted exploration campaign.

Geological Model at Howlong

Exploration at Howlong has identified low-sulphidation carbonate base-metal epithermal Au-Ag style mineralisation adjacent to an altered and gold mineralised porphyry.

Significant historical drilling has occurred with a total of 31 RC holes for >5,690m, 24 diamond holes for 10,499m and 34 aircore holes for 910m. Highlights include:

• 42m @ 2.3g/t Au and 24.7g/t Ag from 30m

• 7m @ 4.2g/t Au from 260m

Allegro believes there is significant potential for a Cadia-Ridgeway porphyry at depth.

Target Areas to Grow the Mineral Resource

The Howlong and Jindera Projects contains drill-ready exploration targets with million-ounce gold potential. In 2015, renowned porphyry experts Corbett Menzies Cunliffe recognised the potential for the existence of a “parent” porphyry of which the Traist porphyry is a narrow protrusion. Furthermore, they recommended that the regional northwest oriented structures, visible on aeromagnetic data, should be prospected for similar carbonate-base metal epithermal Au-style mineralisation as a priority.

At Jindera, anomalous gold in soils occur over a strike length of ~2.3km along a ridge immediately to the west of the old Bungowannah workings. Immediately north of this anomalism, there is a second gold anomalous zone that stretches for another ~1.3km along a second ridge.

Allegro has identified multiple regional targets to be rapidly assessed by shallow drilling of anomalous target zones.