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FONTENOY (EL 8352)
- FONTENOY COPPER AND GOLD PROSPECTS

Introduction

NEW SOUTH WALES FLAGSHIP PROSPECT – FONTENOY

The Fontenoy Project is located in the southeast region of the Lachlan Fold Belt and contains a Palaeozoic volcano-intrusive complex comprising the Yandilla Volcanics and Warrenoy Diorite. The complex is chemically similar to copper-gold porphyry deposit host rocks in the Parkes region of NSW i.e. North Parkes and Cadia Valley*

Historical exploration, including diamond and reverse circulation (RC) drilling, has defined disseminated copper-gold mineralisation over a strike length of eight kilometres. The mineralisation is coincident with a major zone of chargeability (ground IP) and a copper-gold geochemical anomaly in soils.

The bulk of drilling has been focused over a three kilometre strike length in the north, which constitutes an area of anomalous rock chip and residual soil copper-gold geochemistry.

A large portion of the mineralised strike to the south (3.5km) is covered by shallow Quaternary cover sequences (up to 15m thick), which mask geochemical responses from underlying Palaeozoic sequences. Limited drilling in this area (4 holes) has recorded several significant copper-gold intersections.

Other prospective units within the Project area include chemical sediments of the Yandilla Volcanics and ultramafic rocks of the Fontenoy Serpentinite.

The former sediments are up to 120 metres thick and include magnetite-sulphide facies Banded Iron Formations (BIF) containing up to 40% sulphides. These units are prospective for gold mineralisation and oxide iron-ore.

The Fontenoy Serpentinite forms part of an ophiolite association containing a number of minor podiform chromite deposits and this differentiated ultramafic sequence is prospective for both chromite and platinum group element (PGE) mineralisation.

* Cadia Valley total resource - 44 Moz Gold, 8.6 million tonnes Copper. Equivalent to USD$102.78 Billion.
North Parkes total resource - 287Mt @0.26 g/t gold, 0.57 % Copper. Equivalent to $USD221.3 Billion

Fontenoy Geology

Located within the Lachlan Orogen, ELA 5101 covers a structurally complex group of rocks in the Wallendbeen-Cootamundra area. The basement rocks are tightly folded and sheared with some cross-faults. Three major meridional faults are identified within the licence area – the Berthong Fault, Mooney Mooney Fault and the Thuddungra Fault.

<See Figure 1: Fontenoy geological map with best historic RC drilling intersections>

  The oldest rocks in the area are the Cambrian-Ordovician Jindalee Beds, consisting of deep water turbidite sequences (ophiolites) of alternating siltstone, sandstone, chert, black shale, iron-quartzite and phyllite, which were deposited on oceanic crust (Basden et. al, 1978). These rocks were later metamorphosed and intruded by mafic to ultramafic lava dykes and sills, with some of those later altered and metamorphosed into serpentinite.

  These beds are separated from Late Silurian volcano-sedimentary sequences (Yandilla Volcanics, Blowering Formation) by north-south trending thrust faults that post-date the intrusion of the Late Silurian Young Granodiorite. The Young Granodiorite is a large intrusion on the eastern side of the licence area that imposed contactmetamorphism up to amphobilite facies on the older rocks. Small areas of Tertiary ferricrete and Quaternary alluvium are also present in the licence area. (Eastwood, 2012)

Geochemical Surveys

Extensive geochemical surveys have been undertaken over the project area and to date have discovered widespread gold and copper throughout the project area.

Mineralisation is coincident with a major zone of chargeability (ground IP) and a copper-gold geochemical anomaly in soils. Widespread anomalous gold geochemistry in soils covers eight kilometres. Gold and copper anomalies are open to the north, south and west.

<See Figure 2: Fontenoy Copper Soil Geochemistry>
<See Figure 3: Fontenoy Gold Soil Geochemistry>

Note: area of Quaternary Cover masking copper and gold intersections.

Historic Drilling at Fontenoy

Historic drilling has confirmed the copper and gold potential of the project, but has so far failed to find an economic resource of the metals.

<See Figure 4: Fontenoy Diamond Drilling>
<See Figure 5: Fontenoy RC Drilling>

"The Yandilla Volcanics contain a very large tonnage of low grade disseminated copper mineralisation. The best of the copper intersections are around 0.7% Cu, hence the grade is too low to be considered economic. The mineralised zone can be considered to be a rectangular prism approximately 8000 metres by 1000 metres by 50 metres . If a density of 2.75 is assumed for these rocks then there is approximately 1000 million tonnes of very low grade material present .The best copper intersections are associated with the chemical sediments which may, over zones of less than a metre, contain 1 5% chalcopyrite, {this is equivalent to 4% Cu)."

  Non JORC compliant resource calculation completed in 1985
(Cooper et al 1985)

Bushman Resources has engaged an expert to interpret the geochemical and geophysical datasets. We believe once this is complete, future drillhole’s eill be defined and subsequent drilling programs will confirm our belief of a nearby porphyry copper/gold deposit..

Geophysical Surveys

Extensive company surveys have been undertaken over the Fontenoy project area. This work includes:

• Aeromagnetic and radiometric surveys
• Induced Polarisation ground survey

This data will be used by our interpretation expert to define porphyry drilling targets.

Prospect Summary

The Fontenoy prospect is an exciting investment opportunity:

• Brown fields project with $AUD2 M+ spent to date on extensive geochemical/geophysical surveys and drilling

• Shoshonitic intrusions are present at Fontenoy, the calc-alkaline host rocks responsible for mineralisation at Cadia and North Parkes gold mines*

• Disseminated copper-gold mineralisation over a strike length of eight kilometres.

• Banded Iron Formations (BIF) containing up to 40% sulphides, are prospective for gold mineralisation and oxide iron-ore

• The Serpentinite present at Fontenoy is prospective for both chromite platinum group element (PGE) mineralisation

* Cadia Valley total resource - 44 Moz Gold, 8.6 million tonnes Copper. Equivalent to USD$102.78 Billion.
North Parkes total resource - 287Mt @0.26 g/t gold, 0.57 % Copper. Equivalent to $USD221.3 Billion

BAULOORA (EL 8343)
- BAULOORA PROSPECTS

Introduction

The Bauloora prospects are situated in a 27km2 epithermal alteration zone with excellent porphyry Cu/Au potential, that encompass the following prospects:

Historic Bauloora Mine
The Bauloora East Prospect
The Gravel Scrapes Prospect
Mee Mar
Panorama (“Breccia-Sinter”) Prospect
Tara Prospect

Expert interpretation of structural and geophysical featurs has been completed and target areas for epithermal precious metal “feeder” zones and porphyry base metal deposits have been identified.

Geological reconnaissance and geochemical survey field work of these areas is pending. Once finalised drilling targets will be established.

<See Figure 1: 1st VD Magnetic image>

Bauloora Geology

EL 8343 lies within of the Tumut Synclinorial Zone of the Lachlan Fold Belt. The zone consists of a north-south aligned rift basin which developed in the early Palaeozoic. During the late Silurian/ early Devonian Bowning/Bindi Orogeny, numerous large granitic bodies intruded the Lachlan Fold Belt These were then in-filled with shallow marine sediments and submarine to subaerial, dominantly felsic, volcanics (Suppel and Schreibner-1990). These rocks are exposed in the licence area and its surroundings.

An Exploration License has been applied for which surrounds an interpreted 27 km2 hydrothermal alteration zone, situated in the Bogan Gate Synclinorial Zone, near Cootamundra. The area is host to the historic Bauloora mine and also several uneconomic auriferous epithermal vein systems, which have been historically drill tested by several companies.

It is Bushman Resources intention to intensively explore the area for economic Epithermal Au-Ag-Cu-Zn deposits and Porphyry style Cu-Au deposits by utilising the most advanced exploration technology and expert analysis in an attempt to identify “feeder” systems for the identified deposits to date.

Geochemical Surveys

There has been extensive historic geochemical surveys completed on various prospects in the past and these surveys will be utilised in conjunction with the various geophysical data sets and interpretation to identify future drilling targets.

Geophysical Surveys

No company geophysical surveys have been undertaken over this area, however expert interpretation of the government geophysical surveys has been completed. This data has been analysed in conjunction with major geological structural features, the result of which has identified two target areas that have a high potential of hosting bonanza epithermal deposits and/or porphyry deposits.

<See Figure 2: Bauloora Structural Interpretation>

Expert interpretation of geophysics and geological structure has identified two target areas at Bauloora that have previously not been explored.

Prospect Summary

The Bauloora Mine is a narrow but strike-extensive breccia vein within the Frampton Volcanics. Historic mining focused on an ore body 200m long, 0.3-2.5m wide and 60m deep with grades of 3-18% Pb, 12-49g/t Ag, 2-8g/t Au, 1-3.5% Cu, 2-11% Zn, with a total production or 4000 tonnes.

The Bauloora East Prospect is a number of old shafts excavated in to the Deep Gully Creek Conglomerate Member, where veinlet and breccia-hosted calcite-galena-sphalerite- barite mineralisation, with silver and gold values, and sericite alteration of the country rock, has been prospected. Four percussion/diamond holes have been drilled at this prospect, which appears to be genetically related to the large hydrothermal alteration system to the west.

The Gravel Scrapes Prospect is a large area of smectite/sericite alteration of the Yeo Yeo Rhyodacite, with widespread patchy epithermal quartz and calcite veining and disseminations giving sporadic gold and base metal values. Five shallow percussion holes gave a best intersection of 3 metres at 0.81g/t gold.

At Mee Mar, gold and silver values have been obtained from a silica vein in altered volcaniclastics. Further investigation is warranted.

At the Panorama (“Breccia-Sinter”) Prospect, a number of large, brecciated chalcedony/quartz bodies outcrop boldly in paddocks near the eastern crown of the range of hills which broadly outline the large Bauloora zone of hydrothermal alteration. Extensive exploration work has been carried out here, but only shallow percussion drilling, which gave up to 2 metres at 2 g/t gold. Deeper drilling to test for possible feeder structures, which may host bonanza base and precious metals mineralisation, is warranted.

At the Tara Prospect, strongly anomalous lead and zinc values have been obtained from an acid dyke (Moeskops, 2013).