Aeon Metals Limited announced the receipt of further drilling results from its Walford Creek Copper-Cobalt Project (Walford Creek Project) in north-west Queensland. The 2022 drill campaign completed 33 exploration holes for over 13,255 metres drilled. The final Le Mans drill results from 2022 confirm that the 2.1 km Le Mans zone extends laterally the continuous mineralisation in both the PY1 and PY3 units.

These assay results for the final three drill holes of the 2022 drilling program at Le Mans, part of the Walford Creek group of deposits, are reported below. Hole WFDH554 was drilled on section line 210,480mN, located on the eastern margin of the Le Mans mineralised zone. The hole was designed to infill between historical holes WFPD175 and WFDD80 and better define PY3 mineralisation adjacent to the Fish River Fault.

In addition, the hole successfully intersected several intervals of modest grade PY1 cobalt peripheral mineralisation. WFDH557 was collared on line 209,780mE, infilling between drill sections previously 240 metres apart. Although only low grade PY1 mineralisation was intersected in this hole, this intercept was 85 metres from the FRF in the lower grade cobalt peripheral zone halo.

Given the close proximity to wide intervals of PY1 mineralisation intercepted in WFDH546, it seems likely that WFDH557 cut low grade mineralisation proximal to better grades closer to the FRF. WFDH560 was drilled on 209,480mE to infill between previous drill sections 380 metres apart. Shallow historical holes on this section were ineffectively targeted, being drilled well above projected PY1 and PY3 targeted units.

Although only narrow low grade PY3 mineralisation was intersected in this hole, excellent potential exists for PY1 mineralisation above this, a similar scenario to the WFDH557 case described above. In general, the amount of hole deviation (from that targeted) increases with increasing depth. This was particularly noticeable in the first 100 metres from surface, and ultimately the cheaper RC pre- collar drilling was suspended to focus on improving targeting accuracy.

Notwithstanding the increased focus on accurate targeting, the increased hole depth at Le Mans and the unknown localised dip of the fault continued to present a challenge in this regard (particularly in the context of an error of just 20 metres potentially being the difference between a hit and a miss).