Clara Resources Confirms Major Gold Discovery at Mareeba Project

Clara Resources Confirms Major Gold Discovery at Mareeba – Strategic Queensland Asset Poised for Resource Definition

Clara Resources Australia Ltd (ASX: C7A) has delivered exceptional news for investors with the release of its comprehensive technical review of the newly acquired Clara Resources Mareeba Gold Project in Far North Queensland. The independent review confirms what many in the mining sector have been waiting for – a large-scale, historically underexplored gold system with significant near-term resource potential.

Transformational Acquisition Delivers Immediate Value

Clara's strategic acquisition of the Clara Resources Mareeba Gold Project represents a rare opportunity to unlock value from a privately held asset that has remained largely dormant for 40 years. The project's location within Queensland's historically rich Hodgkinson mineral field provides compelling evidence of the area's endowed gold potential.

Furthermore, this mineral field has produced over 300,000 ounces of gold from 30+ small-scale operations during the 19th and early 20th centuries. The technical review, completed by Clara's consulting geologists, has validated the presence of an extensive structurally controlled gold system with multiple mineralised quartz lodes across the 180 km² project area.

Most importantly, the review confirms a clear pathway toward a maiden JORC Mineral Resource through systematic validation and infill drilling.

"This is a transformational acquisition for Clara. Our Mareeba Project, being privately held until now, has been largely unexplored for about 40 years and has never been properly explored with modern techniques." — Peter Westerhuis, Clara Managing Director

Outstanding Historical Results Demonstrate System Scale

The project's historical mining operations paint a compelling picture of the gold grades available within the system. Five standout historical operations reported exceptional grades that would be considered world-class by today's standards:

These impressive historical grades reflect the presence of narrow, high-grade quartz lodes, many of which have never been drill-tested or mined beyond shallow depths. In addition, Clara believes these historical workings now offer high-impact targets for discovering additional high-grade shoots beneath and along strike of known structures using modern exploration techniques.

Modern Drilling Confirms Widespread Gold Distribution

Historical drilling by Western Mining Corporation (WMC) in the 1980s provides strong validation of the gold system's extent and continuity. WMC completed 191 shallow reconnaissance holes for approximately 7,830 metres, with drilling concentrated across multiple prospects along the 6 km Eastern Bounding Fault Zone (EBFZ).

Key High-Grade Intercepts Include:

• 4m @ 15.2 g/t Au from 6m, including 1m @ 45.6 g/t Au from 6m
• 3m @ 8.5 g/t Au from 19m
• 4m @ 3.5 g/t Au from 35m
• 7m @ 3.4 g/t Au from 20m

Critically, at the North EBF prospect, every hole intersected gold, defining a +900m strike of continuous near-surface mineralisation with multiple sub-parallel quartz lodes. However, the average drill depth was only 20-40 metres, leaving the known mineralised system largely untested at depth and below the oxide horizon.

Understanding Vein-Style Gold Deposits: Why Mareeba Matters

Vein-style gold deposits represent some of the world's highest-grade gold opportunities. Unlike bulk-tonnage deposits that rely on large volumes of lower-grade material, vein deposits concentrate gold within narrow, high-grade structures that can be selectively mined with minimal waste.

What Makes Vein Systems Attractive to Investors:

• High-grade potential with selective mining reducing processing costs
• Lower strip ratios in underground operations
• Rapid resource definition possible with systematic drilling
• Multiple parallel lodes provide operational flexibility and resource expansion opportunities

At the Clara Resources Mareeba Gold Project, gold mineralisation occurs in two complementary styles: narrow fissure-style quartz veins with locally erratic but high grades, and wider EBF fault-hosted quartz breccia lodes with more continuous moderate grades. This combination provides both high-grade targets and potentially more predictable mining zones.

What Are Fissure-Style Quartz Veins?

Fissure-style quartz veins are narrow, high-grade structures associated with geological shear zones. These formations often contain locally erratic but exceptionally high gold concentrations, typically occurring in small pods with steep plunging characteristics.

Understanding EBF Fault-Hosted Quartz Breccia Lodes

EBF fault-hosted quartz breccia lodes represent wider, more continuous mineralised structures with moderate gold grades. These lodes form when fault movement breaks rock into fragments, creating spaces that become filled with gold-bearing quartz.

Accelerated Development Programme Targets Resource Definition

Clara has outlined an ambitious but achievable work programme designed to fast-track the Clara Resources Mareeba Gold Project toward a maiden JORC-compliant Mineral Resource. The company's systematic approach combines resource delineation activities with exploration of additional high-priority prospects.

Phase 1: Resource Delineation Activities (February-August 2026)

1. Data Validation & Digital Terrain Modelling (Feb-May 2026)
2. Surface Mapping & Geochemical Sampling (Apr-Jun 2026)
3. Validation, Infill & Deeper Drilling Programme (Jul-Aug 2026)

The drilling programme will focus on twinning select historic holes, infill drilling around known lodes, and critically, deeper drilling to test beneath the shallow historical intercepts. Furthermore, this programme will probe depth extensions of known mineralised structures.

Phase 2: Discovery-Focused Exploration

Concurrently, Clara will conduct exploration at several high-priority prospects including Comstock, Brumby Ridge, and Lady Burdette Coutts. These targets have seen only limited shallow drilling but yielded encouraging gold mineralisation.

For instance, historical intercepts include 3m @ 34.3 g/t Au (including 1m @ 96.5 g/t Au) at the nearby Tasmanian prospect.

Investment Thesis: Why Mareeba Represents Exceptional Value

Clara's Mareeba Gold Project acquisition represents a compelling investment opportunity for several key reasons:

1. Proven Gold System with Historical Production

The project sits within a historically productive goldfield with documented production exceeding 300,000 ounces. This provides strong geological confidence in the system's endowment and economic potential.

2. Modern Techniques Applied to Under-Explored Asset

Mareeba was privately held and largely dormant for four decades. Clara can now apply modern exploration techniques, geological modelling, and resource estimation methods to systematically unlock value from historical data and extend known mineralisation.

3. Immediate Drilling Targets with Resource Potential

The +900m strike length of continuous near-surface gold mineralisation at North EBF, combined with every hole intersecting gold, provides an immediate foundation for resource definition drilling. However, the shallow historical drilling (20-40m average depth) leaves substantial upside at depth.

4. Multiple Prospect Areas for Resource Growth

Beyond the primary North EBF target, Clara has identified multiple additional prospects along the same structural corridor. These represent organic growth opportunities that could significantly expand any initial resource estimate.

5. Accelerated Timeline to Resource Definition

Clara's systematic approach and the availability of substantial historical data positions the company to potentially deliver a maiden JORC resource within 12 months. This rapid timeline could provide near-term catalysts for share price appreciation.

Why Should Investors Follow Clara Resources?

Clara Resources has positioned itself as a strategic explorer focused on unlocking value from historically productive but underexplored gold systems. The Mareeba acquisition demonstrates management's ability to identify and secure assets with genuine discovery potential and clear pathways to resource definition.

Key Reasons to Track Clara's Progress:

• Experienced management team with proven track record in Queensland gold exploration
• Strategic asset portfolio focused on historically productive mineral fields
• Systematic exploration approach combining modern techniques with historical data validation
• Clear development timeline with defined milestones and reporting schedule
• Strong geological fundamentals underpinned by historical production and consistent drill intercepts

What Are the Upcoming Catalysts to Watch?

• Data validation results and refined drilling targets (Q2 2026)
• Initial validation drilling results (Q3 2026)
• Resource delineation drilling progress (Q3-Q4 2026)
• Maiden JORC resource estimate (potential by Q1 2027)

Investment Highlight

Clara Resources has secured a rare opportunity to apply modern exploration techniques to a historically productive gold system that has remained largely dormant for 40 years. With multiple high-grade prospects, a clear resource development pathway, and near-term drilling catalysts, Clara represents a compelling gold exploration story with genuine discovery potential in one of Queensland's most endowed mineral fields.

The combination of proven geological endowment, systematic exploration approach, and accelerated development timeline positions Clara Resources as a gold explorer worthy of serious investor attention. As the company advances through its planned work programmes, investors should expect regular updates on drilling progress and resource definition milestones.

These developments could significantly re-rate the stock's valuation potential. Moreover, the Clara Resources Mareeba Gold Project represents exactly the type of strategic asset that can transform junior exploration companies into significant gold producers through disciplined exploration and resource development.

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