Highlights

Introduction

Green & Gold Minerals has gold exploration tenements near the town of Chillagoe in northern Queensland.  Green and Gold Minerals’ tenure covers two significant gold exploration areas, the historic Wandoo goldfield which was mined up until 1937 and the Sentinel area where the company is searching for further deposits in cluster of gold porphyries that includes Red Dome (2 Moz Au) and Mungana (1 Moz).

At the Wandoo goldfield, Green and Gold Minerals has granted mining leases and mineralisation starting from surface which presents a near term development opportunity.  An initial 32koz Au JORC Resource was recently defined over part of the Wandoo goldfield.  The company plans to conduct drilling to increase the Resource immediately after listing before commencing mining studies, providing opportunities for considerable news flow and value adding immediately after listing.  The nearby Mungana mill (12km away) is currently sitting idle and presents an opportunity for toll treatment.  Mt Wandoo ore samples have been tested at the Mungana mill and achieved gold recovery of >90%.  Chillagoe is a mining town with an arid climate and a community that is supportive of mining. 

While the mine development work progresses at Mt Wandoo, the company will search for a large gold discovery at its Sentinel, Dingo, Stockwork Hill, Welcome and Yum Yum targets.   Sentinel is a large scale and very prospective target with similarities to the nearby big gold deposits of Mungana (1 Moz Au) and Red Dome (2 Moz Au). The Sentinel magnetic anomaly has a classic porphyry signature of a discrete and diffuse magnetic high surrounded by an annular magnetic low with coincident gold in soil and gold in shallow drilling. Only three short holes have been drilled at Sentinel to date, one of which was drilled over the magnetic high and ended in gold mineralisation.

Green and Gold Minerals will be drilling from mid-September and plan to produce strong news flow for the rest of the year and over the Christmas break.

Terms of the Offer

Green and Gold Minerals Ltd is looking to undertake an IPO on ASX to raise between $5 million and $7 million via the issue of between 25 million shares and 35 million shares under the Offer at an offer price of $0.20. 

The Company proposes to apply the funds raised from the Public Offer towards exploration and development activities at its Projects, expenses of the Offer, general administration fees and working capital.

The Company plans to drill immediately upon listing at Mt Wandoo to expand and to increase confidence in the Inferred Mineral Resource. Known strike extensions to the north of Mt Wandoo and at Little Wandoo will be drilled for potential inclusion in future resource estimates. Development studies and toll treatment negotiations for mining at Mt Wandoo are planned in the near term.

The Company plans to drill several large gold targets immediately upon listing including the 2.5km long Sentinel porphyry target, the Dingo pencil porphyry target and the 1.8 km long Yum Yum epithermal target while progressing other prospects. 

Company Overview

Green and Gold Minerals Ltd is a mineral exploration and development company incorporated QLD on 21 January 2015 and purchased three mining leases near Chillagoe in northern Queensland. Subsequently, it has grown its exploration footprint through tenement applications and has conducted successful systematic exploration. The company has a dual focus of progressing towards near-term development at Mt Wandoo and exploring for new and large gold discoveries.

The Company's objective is to grow shareholder value through resource discovery and development at its Chillagoe Gold Project.

The Company's focus immediately upon listing will be to implement the exploration programs for its Projects (as described in Section 2.9) with the objective of delineating mineralisation and defining additional gold resources.

The Company’s strategy includes:

• explore and rapidly define additional resources to develop a gold mining operation at its flagship Wandoo Leases, near Chillagoe in northern Queensland;
• drill key gold targets within the Mungana gold porphyry cluster with the aim of making a significant new discovery; and
• progress exploration at the rare earth and fluorite critical mineral prospects
• the Company will assess potential acquisitions should any compelling opportunities arise.

Chillagoe Gold Project

The Chillagoe Gold Project is located 25km west of the mining town of Chillagoe in northern Queensland, approximately a 3-hour drive west of Cairns and spans a contiguous landholding of 125km².

The project includes the Company’s Wandoo Mining Leases which contain a shallow JORC 2012 compliant 32koz Au Inferred Mineral Resource estimate. The Company plans to rapidly expand this resource and to conduct mining studies. The Wandoo Mining Leases offer a compelling development opportunity due to advanced permitting, proximity to infrastructure including the idle Mungana mill and a shallow resource starting from surface.

Sentinel is the Company’s highest priority drill target for a Mungana style gold porphyry discovery. Sentinel lies on the opposite side of the same granite batholith as two significant gold deposits at Red Dome (2 Moz Au) and Mungana (1 Moz Au). The Sentinel magnetic anomaly is consistent with a porphyry deposit, with a diffuse magnetic high surrounded by a magnetic low, coincident Au-Bi in soil and gold in the three shallow holes drilled to date. The nearby Dingo, Stockwork Hill and Welcome prospects are also strong porphyry exploration targets.

Critical Minerals

The Chillagoe project contains several historic fluorite mines.  Fluorite’s use in lithium-ion batteries has seen growing fluorite demand and interest in fluorite projects.  

Green & Gold Minerals discovered the Nutgrove rare earth breccia complex in 2022 near Dalby in southern Queensland. Rock chip samples have assayed up to 1.4% TREO in visible xenotime mineralisation which is enriched in the sought after heavy rare earth elements Dy & Tb

Key Board and Management

Green and Gold Minerals Ltd is led by a board and management team with over 90yrs combined experience with a track record of responsible management of shareholder funds. These include:

Mr Anthony Bellas - Non-Executive Chairman B Econ, Dip Ed, MBA

Anthony has more than 40 years experience in both the government and private sectors. Anthony has previously held positions of CEO of Ergon Energy and CS Energy and had a long career with Queensland Treasury where he reached the position of Deputy Under Treasurer with oversight of Fiscal Strategy, Office of Government Owned Corporations and Office of State Revenue.

Anthony is currently Chairman of CS Energy Ltd, Non-executive Director of Novonix Limited (ASX: NVX) and Deputy Chairman of State Gas Limited (ASX:GAS). He has previously held roles of Chairman of Corporate Travel Management Limited (ASX: CTD), intelliHR Limited (ASX: IHR), ERM Power Limited (ASX: EPW) and Shine Lawyers Limited (ASX: SHJ). He has Fellow member status of the Geological Society of London, the Australian Institute of Company Directors and CPAs Australia.

Mr Quentin Hill - Managing Director BSc (Geology), Grad Cert. BA

Quentin is an experienced ASX managing director/CEO, General Manager and geologist with more than 25 years’ experience in exploration and development in Australia. He has wide-ranging commodity experience including gold, iron ore, coal and base metals. Quentin was a key member of the Hawsons Iron project discovery team and has a record of moving large projects forward from conception to feasibility, leading consultancies and improving performance.

Quentin has held technical positions with major miners, including seven years with Delta Gold and Vale’s coal divisions and has overseen successful resource upgrades, product marketing efforts, pre-feasibility studies.

Quentin is an experienced corporate and technical leader, demonstrating expertise in protecting and creating value, creating technical and commercial platforms for development, raising capital and securing strategic investment

He was previously Managing Director of Carpentaria Resources Limited (now Hawsons Iron Limited (ASX: HIO).

Mr Edward Boulton – Non-Executive Director BEng (Mining) (Hons)

Edward (Ted) is a mining engineer with 27 years’ of experience in mining operations, mine planning, mineral economics and mine development. Edward is a founding partner and current Director of MEC Mining, an engineering and consultancy firm specialising in mining engineering, geology, mine approvals, ecology and geotechnical engineering.

Edward is a competent person for estimating Ore Reserves under The JORC Code 2012. He has been a Director of Green & Gold Minerals since 2018 and has managed the Company and lead the exploration activities during this time.

Key Offer Statistics

See ‘Summary of Offer’ section of the Prospectus for further information.

Use of Funds

Funds raised from the Offer will be applied as follows:

For further information on the Key Offer Statistics and Use of Funds, please see the prospectus.

Risk

You are encouraged to read the Prospectus carefully as it contains detailed information about the Company and the Offer. Like all investments, an investment in the Company carries risk. As set out in Section 3 of the prospectus, Green and Gold Minerals Ltd is subject to a range of risks, including but not limited to future capital requirements, exploration and development risks, resource estimation, native title, land access, tenement, commodity markets and exchange rate risks.

Section 734(6) disclosure: The issuer of the securities is Green & Gold Minerals Limited ACN 603 812 997. The securities to be issued are ordinary shares. The disclosure document for the offer can be obtained by clicking on the link above. The offers of the securities are made in, or accompanied by, a copy of the disclosure document. Investors should consider the disclosure document in deciding whether to acquire the securities. Anyone who wants to acquire the securities will need to complete the application form that will be in or will accompany the disclosure document (which can be done via the electronic application form which will become available by clicking the bid button above).

The offer may close early and the 'Pay By' dates may change. Duplicate bids under the same investment profile, investor name or residential address may be cancelled.