Our Portfolio

Assets Available for Partnership

Porphyry Peak Project (Utah, USA)

Deal: Option agreement which provides Opal with 100% rights to acquire the Project.
Minerals Focus: Copper, Silver, Zinc, Gold.
Description: The Porphyry Peak Project includes two high-grade prospects: the Horn Silver Mine Prospect, once the highest-grade silver mine in the USA, and the Copper Mountain Prospect.
Key Features: 101 Patented Mining Claims - approximately 6.3 km² (1,566 acres). The project’s silver and zinc-rich oxide and sulphide mineralisation presents a near-term growth opportunity, with extensive areas yet to be drilled. The Copper Mountain Prospect has shown promising copper and gold results, including 54m @ 1.4% Cu and 0.19 g/t Au from 46m in drill hole FR18-007*.
Status: Advanced exploration with drill ready targets

Howlong Project (New South Wales, Australia)

Ownership: 100% rights to the project via a Share Purchase Agreement.
Minerals Focus: Gold, Silver, Copper
Description: The Project covers a large area of the Lachlan Fold Belt, a region known for major gold-copper systems. The project includes an Inferred Mineral Resource of 244,000 oz of gold and 2 million oz of silver**. The key Deposit within the project area presents a multi-million-ounce gold and copper target, with mineralisation open in all directions and significant exploration upside.
Status: Drill-ready with exploration potential to expand the current resource.

Olympus Project - Adjacent Tenure (WA, Australia)

Olympus Project (Adjacent Tenure): Opal partnered with Wascan Pty Ltd to peg the ground immediately south of the Olympus tenure.
Minerals Focus: Scandium, PGEs, REEs
Description: Opal presented the opportunity to peg the southern extension of the scandium-rich anomaly immediately south of the Olympus Project to the principals of Wascan Pty Ltd. Wascan agreed to fund all pegging and administrative costs. In return, Opal will retain a 44% ownership interest in the project.
Status: Two tenements have been applied for and registered by the WA Government. Opal and Wascan are now seeking a partner to advance the project.

Our Portfolio of Investments & Assets

Investment 01

Olympus Project (WA, Australia)

Olympus Project: Successful sale to Hawk Resources (ASX:HWK)
Minerals Focus: Scandium
Description: Direct investment of approximately $50,000 has led to a deal with potential outcomes ranging up to $6.9 million in milestone payments, plus a 20% free-carried interest until a decision to mine.
Status: Hawk’s next steps at Olympus will be:
- Obtain permit to enter Ngaanyatjarra land.
- Lab analysis of soil and lag sampling to verify historical scandium results.
- Systematic drilling program to determine continuity and thickness of mineralisation.

Interactive Map with Tooltips

*FR18-007 Drill hole source – AL8 ASX Announcement, 14/11/2018

**EL6281 Annual Report for the period 11th August 2017 to 10th August 2018 – August 2018. (8.64Mt @ 0.88g/t Au, 7.27g/t Ag)

Competent Persons Statements

The information on this website to which this statement is attached that relates to Exploration Results, Exploration Targets or Mineral Resources is based on, and fairly reflects, information and supporting documentation prepared by Patrick Say, a Competent Person who is a Member of the Australasian Institute of Mining and Metallurgy.

Mr Say is a substantial shareholder and Director of Opal Resources and holds securities in the Company. Mr Say has a minimum of five years’ experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.

Mr Say consents to the inclusion of the matters based on his information in the form and context in which it appears.