Overview of March 2024 Quarterly Activities Report

Albion Resources Limited (ASX: $ALB) has released its March 2024 Quarterly Activities Report, detailing the completion of a ground-based Fixed Loop Electromagnetic (FLEM) survey over its Red Well prospect on E59/2576. The survey identified several bedrock conductors at two prospect areas, Red Well East and Red Well West, prompting a recommendation for a rock sampling program to assess the host rock types for further deposit style evaluation.

Executive Commentary on Recent Activities

The ground-based FLEM survey at Red Well prospect has been a significant step in our exploration efforts. The identification of bedrock conductors at both Red Well East and Red Well West, along with the coincident highly elevated metal ratios in soil, is encouraging. We are now planning a rock sampling program to further evaluate the deposit styles and assess the potential for various drilling techniques. This aligns with our commitment to thorough and systematic exploration to unlock the full potential of our projects.

Summary of Activities and Outlook

Albion Resources' completion of the ground-based FLEM survey at the Red Well prospect marks a positive development in the company's exploration activities. The identification of bedrock conductors and highly elevated metal ratios in soil has prompted the recommendation for a rock sampling program to assess the host rock types for further deposit style evaluation. The company's commitment to thorough exploration and evaluation of its projects reflects its dedication to unlocking the full potential of its portfolio. With a workplan being finalized to extend the soil sampling and conduct reconnaissance rock sampling, Albion Resources is poised to continue its systematic approach to exploration and assessment of its projects, aiming to add to the discovery potential within its portfolio.