Clara Resources (ASX:C7A) reports LiDAR survey results at Mareeba Gold Project

Clara Resources has reported the results of a 39 km² high resolution airborne LiDAR survey completed across the Kingsborough Fault corridor at its Mareeba Gold Project in Far North Queensland.

The project is located within the Hodgkinson Basin, a historically significant gold producing region that has produced approximately 300,000 ounces of gold from multiple deposits.

Highlights

• 39 km² of high resolution airborne LiDAR acquired and processed across the Kingsborough Fault corridor
• Four documented historical workings identified, including two along the corridor
• Three previously unrecorded early stage exploration targets identified
• Corridor drilled by Western Mining Corporation between 1986 and 1989
• No modern systematic exploration undertaken since 1989
• Ground based exploration approved to commence over the coming weeks

The LiDAR survey covered the Kingsborough Fault corridor and surrounding ground within EPM 13944 and EPM 26405.

The corridor was the focus of an approximately 200 hole regional gold exploration program conducted by Western Mining Corporation between 1986 and 1989 and has not been subject to modern systematic exploration since that time, forming the focus of Clara’s current exploration activities.

The 2026 LiDAR program was flown on 27 March 2026 using a manned fixed wing aircraft equipped with a RIEGL VQ 780ii LiDAR system and supported by surveyed GNSS ground control, with a total acquired ground footprint of approximately 39 km².

Survey deliverables include a classified point cloud, a 1 m Digital Terrain Model, a 1 m Digital Surface Model and high resolution orthophotography, with an average point density of approximately 8 points per square metre.

Initial interpretation involved overlaying the LiDAR dataset with four documented historical workings within the Mareeba Gold Project tenements, being Victory, B.B., Lady Burdett Coutts and Rebo.

These workings present as discrete topographic anomalies within the survey area.

Historical depth information sourced from the Queensland GeoResGlobe database records mineral occurrences to approximately 33 m at Victory, approximately 60 m at B.B. and approximately 20 m at Lady Burdett Coutts, with no depth information recorded for Rebo. This information has not been independently verified.

Following this calibration, Clara identified three additional targets that are interpreted to represent possible historical workings on previously unrecorded ground.

These targets, New Prospect 1, New Prospect 2 and New Prospect 3, display morphological characteristics comparable to those observed at the documented historical workings.

In total, seven exploration targets have been defined within the survey area, with five distributed along the Kingsborough Fault corridor over approximately 7 km of strike and two additional targets forming an interpreted trend of approximately 1 km located approximately 3 km to the northeast of the corridor.

Exploration targets are conceptual in nature and there is no certainty that further exploration will result in the definition of a Mineral Resource.

Clara Executive Director Duncan Gordon commented:

“Identifying and mapping historical workings at scale — including previously unrecorded ones — gives us a more complete picture of the structural framework controlling mineralisation, and greater confidence in prioritising targets and planning our exploration program.”

The company plans to commence a staged ground based exploration program over the coming weeks targeting the three previously unrecorded exploration targets together with follow up across the four documented historical workings.

The program will include detailed surface geological mapping, systematic logging of any visible workings, rock chip sampling and soil sampling across individual target areas and structural corridors.

Results are expected to inform the design of a subsequent drill program, building on the existing historical drilling database, with Clara intending to provide regular updates to the market as exploration activities progress.

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