C29 Metals Limited provided an update on Mayfield copper-gold exploration project located the Mt Isa inlier in Queensland. During Q4, 2022 the Company completed an extensive ground gravity survey comprising of 555 stations covering 68% of EPM 19843 on 200m x 200m and 200m x 100m grid spacings. The completion of high quality, high-resolution gravity survey and the subsequent processing and interpretation by the Company's highly experienced geophysical consultant has resulted in the delineation of nine gravity targets.

These gravity targets, when combined with other data sets such as geochemistry, magnetics and geology, have then been ranked in order of prospectivity. The Cloncurry district is world renowned for Iron-Oxide Copper-Gold mineralization, however, the mineralization present is highly diverse, with a number of deposit styles present, including: IOCG, Iron Sulfide Copper-Gold (ISCG), Broken Hill Type (BHT), Sedex, Skarn and intrusion related Cu-Mo. One of the most common features of all these deposit types is the presence of positive gravity anomalies due to the metal content and therefore density of the mineralized rocks.

Therefore, the presence of these gravity anomalies at the Mayfield Project is very encouraging. The next step is to utilize this data to design suitable induced polarization (IP) programs over the higher ranked targets. IP is very useful in identifying chargeable sulphide zone and resistive siliceous zones, both of which are key mineralisation indicators.

IP is the last step before designing well targeted drilling programs.