Dalaroo Metals Ltd. announced the discovery of new gold mineralization in outcropping quartz veins at the Goodbody prospect. Mineralized quartz veins have been located at the Goodbody West and Goodbody Central target areas proximal to previously reported Au-anomalous soil samples of 54 ppb Au and 93 ppb Au, respectively. The extent of auriferous veins in the Goodbody West area are confirmed over a strike length of 200m, remaining open in all directions.

Similarly at Goodbody Central, the extent of Au anomalous rock chip sampled veins span 140m strike and remain open. The combined footprint of mineralized rock chips from these two target areas is approximately 1.5km within the broader Goodbody prospect defined over a strike length of 3km. The sampled quartz veins are typically 5-30cm thick and are comprised of mainly quartz with minor biotite and, locally, ferruginous oxide phases.

They form sub-parallel to the pervasive structural fabric within foliation planes and commonly contain internal breccia zones consisting of Fe-oxide- and silica-rich matrices surrounding fragmented quartz vein clasts. The samples were composed of entirely vein material, the adjacent wall rocks, or a combination of both. At the Goodbody West target, gold concentrations of up to 1.42g/t and 5.52g/t (samples 230103_10 and 230103_3) have been returned from a particular set of quartz veins hosted within a metasedimentary rock package of pelitic schists and siliceous cherts, iron stones and BIF-style units.

Historic rock chip sampling of quartz veins in this area returned up to 6.25g/t Au. In the Goodbody Central target area, pelitic schists are the dominant host rocks but zones of iron-oxide rich siliceous vein breccias and quartz-biotite altered wall rocks are also prevalent (e.g. sample 230105_23, 0.48g/t Au). At this locality, muscovite and tourmaline bearing quartz veins have also been found to be mineralized (e.g. sample 230105_4, 0.16g/t Au).

It is noted that high-strength soil anomalies and multiple rock chip assays of up to 5.52g/t Au associated with the Goodbody West, Central and East targets spatially coincide with the location of intersections between interpreted WNW-striking structures and NNE-trending structures. Conceptually, structural intersection zones represent potentially intensified deformation areas that may be associated with favourable sites of hydrothermal fluid movement and gold mineralization. As such, the Goodbody gold targets are considered high priority for follow-up exploration work.

This sampling campaign was carried out over three field days, representing just a first pass geological reconnaissance trip guided by the recent Au-in-soil anomalism at Goodbody. Significantly, these results have confirmed the successful application of Dalaroo's soil sampling in highlighting the locations of in situ gold mineralization at the Lyons River Project. Therefore, upon commencement of the 2023 field season in April 2023, the Company intends to extend targeted rock chip sampling to the full 3km length of the Goodbody Au soil anomaly zone, in addition to completing step-out sampling of the newly identified mineralized vein systems at the Goodbody West and Central targets.

Lyons River is located approximately 1,100km north of Perth and approximately 220km to the north-east of the coastal town of Carnarvon, Western Australia. The Lyons River Project lies within the Mutherbukin Zone of the Gascoyne Province, which is the deformed and high-grade metamorphic core zone of the early Proterozioc Capricorn Orogen.