Woomera Mining Limited provided an update on recent exploration activities at its South Australian projects, Labyrinth in the Gawler Craton and Musgrave in the Musgrave Province. At Labyrinth, Woomera has completed an auger drilling survey that has identified multiple, high order gold and rare earths anomalies coincident with a possible "Labyrinth Shear Zone" repetition in the north east of the Project area. The Company has also booked a VTEMTM MAX Survey for the Musgrave Project, located in the same geological province as the Nebo-Babel (390Mt @ 0.31% Ni, 0.34% Cu4) and Wingellina (215.6Mt @ 0.91% Ni, 0.07% Co5) projects.

The Labyrinth Project is located 300km north-northwest of Port Augusta, 60km east of the Tarcoola gold mine and 200km west of Coda Minerals' Elizabeth Creek IOCG discovery. The 94km2 tenement area is host to a sequence of Archean-early Mesoproterozoic Hiltaba Granite and Gawler Range Volcanics along with high order auger drilling anomalies in gold and cerium (a possible indicator for rare earth mineralisation). The Musgrave Project is located 900km north-northwest of Port Augusta and covers 1,600km2 including the prospective Giles Complex that hosts base metal mineralisation.

The presence of fertile host rocks has been confirmed in historical drilling, which returned results of up to 19m at 0.2% Ni1 from ultramafic rocks. Labyrinth Auger Geochemistry, Interpretation & Next Steps: Woomera has received all multi-element assays from the auger drilling program conducted at the Labyrinth Project. Work on the Project has involved multiple geochecmical programs designed to vector in on drill targets.

With each program, targets have been refined based on geostatistical interrogations of data returned through the assays. Assay values in comparison to background or non-mineralised zones within the Project area display "order of magnitude" anomalism. Background gold values at Labyrinth appear to be circa 2 parts per billion (ppb), therefore any values above twice the background amount are deemed anomalous.

Furthermore, cerium (Ce), an element associated with the lanthanide series of elements (rare earths) displays a background value of circa 15ppb Ce. The cut-off used for cerium anomalism is three times the background amount. In light of the significant gold and rare earths mineralisation demonstrated by Indiana Resources at its Minos and Ariadne prospects along strike, the Company is encouraged by the anomalism identified at Labyrinth.

Woomera's interpretation is that there is the potential for parallel repetitions of the Labyrinth Shear Zone hosting mineralisation. Musgrave VTEMTM MAX Survey and Next Steps: The VTEMTM MAX survey at Musgrave is designed to complement work completed by Woomera as part of the 2019/2020 field programs. The Company expects the high resolution imagery to highlight prospective lithologies, allowing it to target potential mineralisation. The survey will be conducted in the December 2022 quarter with results communicated to the market in due course.

Earlier this year, the Company announced that were successful in its application for co-funding under the South Australian Governments Accelerated Discovery Initiative (ADI), to be allocated to the Musgrave Project in South Australia. The ADI is designed to increase greenfield mineral exploration activity to attract exploration investment required to uncover future mines throughout the state. The Musgrave Project has been offered matching funding of up to $200,000 on a dollar-for-dollar basis to undertake exploration aircore drilling.

Woomera has committed to completing the VTEM TM MAX Survey in the last quarter of this year, from which drill targets may be defined, and partly funded through this scheme.