Comet Gold Project Joint Venture - Accelerate Resources Limited

The Comet Gold Joint Venture Project is located in the highly prospective Murchison Goldfields of Western Australia, approximately 22 km southeast of Cue and within the Mount Magnet–Meekatharra greenstone belt (Figure 1). The Project covers a contiguous landholding of approximately 68 km² across a well-endowed gold corridor that hosts multiple historic mines and operating processing facilities within a 30 km radius.

Comet is strategically positioned immediately along strike from the historic Comet Gold Mine and within the southern extent of the Tuckabianna Shear Zone, a major regional structure known to host significant gold mineralisation. The Project contains multiple advanced exploration targets supported by historical drilling, with gold mineralisation associated with Silicified Iron Formation (SIF) units — a proven host to multi-million-ounce gold systems across the region.

Figure 1: Comet Gold Joint Venture Project Location Map

Project Ownership & Transaction Status

In December 2025, Accelerate Resources completed the sale of a 75% interest in the Comet Gold Project to Caprice Resources Ltd (ASX: CRS), allowing Accelerate to realise value from a non-core asset while retaining meaningful exposure to exploration upside.

This transaction aligns with Accelerate’s strategy to focus capital and management attention on its Kalgoorlie-region gold assets while maintaining long-term exposure to potential discoveries at Comet.

Geological Setting

The Comet Gold Project lies within the Meekatharra–Mount Magnet Greenstone Belt at the southern end of the Tuckabianna Shear Zone. The geology comprises:

Mafic and ultramafic volcanic sequences
Folded banded iron formation (BIF) and Silicified Iron Formation (SIF)
Major shear zone splays and fault corridors
Intrusive granitoids providing favourable structural traps

Gold mineralisation is primarily hosted within SIF units, the same stratigraphic setting that supports mineralisation at the nearby Island Gold Project and other major deposits in the district. This geological continuity provides strong confidence in the scale and fertility of the Comet system.

Key Prospects

The Project hosts several well-defined gold trends, including:

Comet East

A high-priority target with multiple shallow, ore-grade historical intersections and limited modern drilling. Mineralisation remains open along strike and at depth.

Comet North

Defined by a 1.8 km long anomalous corridor identified from RAB drilling, with gold associated with BIF/SIF units and favourable structural positions.

Antarctica

A structurally controlled target with historic drilling returning shallow gold intercepts and strong geological similarities to nearby deposits.

Compilation and reinterpretation of historical datasets have confirmed that large portions of these trends remain underexplored by modern standards

Historic Exploration Highlights

Historic drilling across the Project has returned numerous encouraging gold intersections, including:

9 m @ 3.89 g/t Au from 34 m (Comet East)
6 m @ 2.29 g/t Au from 44 m (Comet East)
3 m @ 2.23 g/t Au from 27 m (Antarctica)
3 m @ 2.02 g/t Au from 10 m (Comet North)

These results demonstrate the presence of a fertile gold system with strong potential for discovery through systematic follow-up drilling

Figure 2: Comet Gold Joint Venture Project with historic in maximum gold in hole along with prospect s and new drill targets in yellow.

Exploration Upside

The Comet Gold Project benefits from:

Extensive strike length across two major mineralised corridors
Minimal modern drilling across large parts of the tenure
Proximity to existing mines and processing infrastructure
Strong geological continuity with proven gold systems in the district

Caprice Resources is advancing exploration planning across the Project, with staged fieldwork and drilling expected to test high-priority targets and extensions of known mineralisation.