Overview

Dampier has five major projects, comprising one development project and four exploration projects.

In 2019, Dampier secured rights to 600 km² of tenements in the 200 million ounce gold region. Dampier now has a presence in the gold-rich Kalgoorlie region and is excited about the scope to undertake exploration on this relatively under-explored ground in this world class gold region.

The K2 Mine lies on ML52/183 and is part of the tenement package originally secured by Dampier from Barrick Gold in 2010, referred to as the Plutonic Dome Gold Project (PGDP) or Marymia.

Under the binding K2 Farm-in Joint Venture Dampier has the right to earn 50% in the K2 Mine, for the expenditure of up to $3M on development expenditure, to earn 50% direct equity interest. The mine has relatively shallow indicated and inferred resources of 103,000 ounces at 7.7 grams/t and mining inventory of 54,000 ounces at 6.9 grams/t. The mine has a 1.4km decline developed to the ore blocks and to bring into production only requires dewatering, refurbishment and exploration drilling to tighten up on the mineable blocks and drill out extensions. It is estimated that the mine can be brought into production in ~9 months for an upfront cost of ~$6 million (100%) with the ore trucked to the Plutonic Mine processing plant operated by Superior Gold Inc. (Toronto). At current prices the project has scope from the first 50,000 ounces of gold recovered to return net circa $30 million to Dampier over 36 months from start-up.

Following the sale of PDGP, Dampier and Vango agreed to a Farm-in Joint Venture executed on 12th May 2017 whereby Dampier was granted the right to earn 50% of the K2 Project M52/183 for the capped expenditure of up to $3M. The expenditure to bring the first 50,000 in the mine into production is estimated to be $6M given the existing 1.4km decline to the ore blocks and related project infrastructure. Under the JV, Dampier is the nominated Exploration Manager.

Exploration to enhance reserves and resources and complete geotechnical metallurgical studies are underway at the K2 Mine.

In January 2019, Dampier acquired two tenements (total ~400 km²) In January 2019, Dampier acquired the rights to earn up to 80% in two tenements north of the gold mining centre of Kalgoorlie at Menzies and Goongarrie. north of the gold mining centre of Kalgoorlie at Menzies and Goongarrie.

In October 2019, Dampier entered into two joint ventures on the world class gold conduit, the Zuleika Shear (220 km²) and at Credo Well (12 km²) which historically has generated extraordinary high grade drill intersections. Zuleika and Credo areas have generated ~20 million ounces of gold and contain a number of producing gold mines operated by Norther Star, Evolution and Zijin.

In 2018, Dampier purchased the Ruby Plains Gold Project from private vendors. The project is located in the Kimberley region of Western Australia, 70km SSE of the township and historical goldfield at Halls Creek.

The 4 tenements of ~1,000 km² acquired by the Company cover paleo-placer deposits which have characteristics similar in terms of age and genesis to the paleo-sedimentary deposits in the rich Californian Goldfields which had multi-million ounce gold deposits.

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