Projects - Cartwheel Exploration

Currently, Cartwheel Exploration Pty Ltd has acquired 5 exploration leases in the Wimmera region of west Victoria. These 5 tenements constitute our Murtoa Gold Project. They are located in the Stawell Zone with proven mining and exploration history. The aim of the project is to discover a major gold deposit. Cartwheel Exploration will combine lineament targeting (satellite image interpretation) with traditional exploration techniques to seek new gold resources in prospective portions of the tenements.

The 5 exploration leases that have been granted are EL006548, EL006559, EL006560, EL007235 and EL007236. Total area is 1821 square kilometers.

Notice: Given the current situation with the COVID-19 pandemic, Cartwheel Exploration Pty Ltd will make the safety and welfare of the community and its staff its paramount priority. If any exploration activity poses a significant risk to our people or the community, it will be postponed until it is safe to continue.

Work Program

Nature of On Ground Exploration/Timing and Forecast Expenditure

Cartwheel Exploration Pty Ltd's program of proposed staged exploration activities is set out below. Exploration may be accelerated or modified dependent upon success, staff availability and funding.

Stage 1 – Historical Research / Data compilation / Field Reconnaissance / Identify Stakeholders. Historical research on past exploration over this tenement will be undertaken along with data compilation to utilise all historical findings to forward plan the exploration program. Reconnaissance trips to site to undertake geological mapping and become familiar with the geology, ground conditions and local stakeholders.

Stage 2 – Geological mapping / Soil sampling. Planning for soil sampling grids over select targets will take place along with further detailed geological mapping and collection of local information to aid in all future exploration programs. Ground geophysics surveys such as Induced Polarisation (IP) and ground magnetics may be undertaken over high priority targets. Auger drilling may be undertaken if shallow geochemical targets are identified.

Stage 3 – Ground Based Geophysics. Assessment of all results to date on the area. 3D modelling of identified lode targets. Determine appropriateness of selected geophysical methods to assist with target definition.

Stage 4 – Exploration drilling. Should future higher impact exploration activities be planned such as exploration drilling, it will involve a submission of a Low Impact Exploration Plan or Work Plan to Earth Resources Regulation, detailed rehabilitation plans, and monitoring and auditing.

Environment Strategy

All rehabilitation will be carried out as soon as practicable after exploration activities have taken place and in line with the current Guidelines for environmental management in exploration and mining. Cartwheel Exploration Pty Ltd will ensure all staff and contractors are aware of all site-specific environmental sensitivities, such as weeds and endangered flora and fauna, and will act accordingly.

Cartwheel Exploration Pty Ltd is committed to minimising, or where possible avoiding, environmental impact. It will work in accordance with the Guidelines as determined by the Victorian Government and will facilitate effective rehabilitation of all disturbed areas. No wetlands, waterways or lakes will be impacted by exploration activities.

The Community Engagement Plan

Cartwheel Exploration Pty Ltd has developed a Community Engagement Plan specifically for the Murtoa Gold Project. This plan outlines the company's commitment to developing and maintaining relationships with stakeholders and communities, open communication of proposed activites and project developments and effective management of stakeholder and community feedback, complaints and concerns.

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