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ARCHER MATERIALS LIMITED Capital/Financing Update 2018

May 6, 2018

64478_rns_2018-05-06_f9a12d07-99f3-4a95-954e-4426a079a33c.pdf

Capital/Financing Update

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ABN: 64 123 993 233

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ASX Announcement (ASX: AXE ) 7 May 2018

Jamieson Tank Manganese Project Exploration Target

Highlights

  • Substantial Exploration Target reported for the Jamieson Tank Manganese Project.

  • Electrolytic Manganese Dioxide (EMD) has been made from material grading 12% Manganese.

  • The mineralisation predominantly comprises cryptomelane with the potential for both relatively high metal recovery and the production of EMD.

  • The Exploration Target is based on exploration results from 208 historical drill holes and a robust geological model – extended only 20m beyond both the most northerly and southerly drill sections and to a vertical depth of 100m.

  • The mineralisation is open along the strike and at depth.

  • Jamieson Tank is located adjacent to the Sugarloaf graphite processing facility on the Eyre Peninsula, South Australia with access to critical infrastructure.

Archer Exploration Limited (ASX:AXE, Archer or the Company) is pleased to announce an Exploration Target for its Jamieson Tank Manganese project located near Cleve, South Australia. The project area is located within close proximity to existing power, water and other critical infrastructure.

A review of historical drill results has resulted in the establishment of a maiden exploration target of 15Mt - 25Mt at a grade of 8 - 12% manganese for the Jamieson Tank Manganese Project. Investors should be aware that the potential quantity and grade of the Exploration Target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

The Exploration Target is based on historical drilling, across 208 drill holes, undertaken by Archer (2008 - 2011) and Monax Mining Ltd (2008 – 2012). This historical drilling intersected substantial widths of manganese mineralisation over an extensive area. Follow-up exploration activities planned by Archer including geophysical surveys, drilling (including diamond drilling)

ABN: 64 123 993 233

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and additional metallurgical test work to confirm the historical data and to test numerous other targets along this trend.

Greg English, Executive Chairman said “The calculation of such a large a maiden Exploration Target and the recent successful EMD test work at Jamieson Tank, gives us confidence to undertake further manganese focussed exploration at Jamieson Tank.”

“The Exploration Target, is based on a relatively conservative interpolation of grade and tonnage from historical drill results,” said Mr English.

“Jamieson Tank is ideally situated close to existing rail, power, gas and other significant infrastructure which will aide further exploration and possible project development. The development of this potential EMD project is consistent with Archer’s strategy of pursuing opportunities in the reliable energy space.” said Mr English.

About Jamieson Tank

The Jamieson Tank Manganese Project is 100% owned by Pirie Resources Pty Ltd, a wholly owned subsidiary of Archer. The Jamieson Tank exploration target crosses two separate tenements, Carappee Hill (EL 5920) and Waddikee (EL 5815).

The Carappee Hill portion was initially drilled by Archer in 2008 with follow up drilling under a joint venture between Archer and the manganese miner and processer OM Holdings Limited (ASX:OMH). The Waddikee portion was drilled under a separate joint venture between OMH and Monax Mining Limited (ASX:MOX). Archer purchased the Waddikee tenement from Monax in 2014 and now owns all of the Jamieson Tank Manganese Project.

Previous explorers (including Archer) were looking for high grade manganese that could form the basis of a direct shipping ore operation. Therefore, only higher-grade mineralisation was considered. The highly successful recent metallurgical test work by Archer showed that it may be possible to make a high quality electrolytic manganese dioxide product at Jamieson Tank. The potential for discovering lower grade manganese that is suitable for EMD presents an upside for this project.

Testing of the Jamieson Tank manganese has confirmed its suitability to produce EMD (ASX announcement 23 April 2018).

Electrolytic Manganese Dioxide

While manganese has traditionally been seen as a component in steel alloys, it is the battery applications of Electrolytic Manganese Dioxide (EMD) that are predicted to be the fastest growing segment of manganese production. EMD is a high value manganese product which is a critical component within various applications, especially for lithium ion battery cathode material for electric vehicles.

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The global battery market is currently driven by the shift from nickel-based fuel cells to EMD based fuel cells. The high demand for EMD based Li-ion fuel cells is the major factor contributing to the growth of the batteries market. The adoption of solar and wind-power systems across the world is also creating demand for high electric storage capacity batteries, which utilise EMD battery technologies.

In addition, EMD is critical for cathodes in modern alkaline and sodium batteries and in new battery technology developments, such as the Zinc-Manganese battery which is anticipated to become the replacement for the not so environmentally friendly lead/acid automotive starting and lighting market batteries. There is also significant potential in the emerging Lithiated Manganese Dioxide (LMD) Battery (which contains 61% Manganese by weight). LMD batteries are currently being used in the Chevy Volt and Nissan Leaf.

Exploration Target calculation and assumptions

The Exploration Target for Jamieson Tank manganese is reported as a range of 15Mt to 25Mt over a grade range of 8 to 12% manganese. Investors should be aware that the potential quantity and grade of the Exploration Target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

An isometric view of the existing drilling in the area of the Exploration Target is summarised in Figure 1. Selected drilling intersections within the area of the Exploration Target are summarised in cross section in Figure 2 and Figure 3.

The Exploration Target:

  • Is determined over a range of metres below the surface, which is greater than the average depth extent (54m) of the drill holes used in the Exploration Target calculation.

  • Does not include any potential manganese mineralisation situated along strike from the last drill section, nor any manganese mineralisation below the 137m RL.

  • Is based on the results from the historical drilling undertaken by Archer and Monax (total of 208 holes for 11,200m drill metres).

The Exploration Target is based on the results from the historical drilling undertaken by Archer and Monax (total of 208 holes and 11,200m drill metres). These holes cover around 6.6km of the Jamieson Tank strike and were drilled at distances of 20 to 25m apart on 200m spaced drill lines. The holes are a mixture of Rotary Air Blast (RAB) and Air Core (AC), with 22 holes exceeding downhole lengths of 70m, with some of the holes ending in manganese mineralisation. A summary listing of Archer and Monax ASX releases relating to the associated exploration activity is appended (Appendix 1).

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The Exploration Target was calculated using the assumptions shown in Table 1 below:

Lower Range Upper Range
cumulative width (m)
Strike (m)
depth (m)
SG
20
6,600
60
1.9
20
6,600
100
1.9
Tonnes 15,000,000 25,000,000

Table 1: Assumptions used to calculate Jamieson Tank Exploration Target. The potential quantity and grade of the Exploration Target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

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Figure 1: Jamieson Tank exploration target showing location of historical drill lines and the location of the proposed Sugarloaf graphite processing facility. The potential quantity and grade of the Exploration Target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

ABN: 64 123 993 233

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The density of the material (SG) is theoretical and considered to be conservative. No work has been completed determine the accuracy of the density assumption. It is believed to be conservative estimate due to density work completed on the nearby Campoona gneisses which have a density of +2.

The Exploration Target presents an average grade of between 8 and 12% manganese.

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Figure 2: Section 1, Interpretation of steeply dipping mineralisation. The potential quantity and grade of the Exploration Target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

Historical drilling

– WMC exploration (1991 1993)

WMC undertook IP, EM magnetics and gravity to define drilling targets at Jamieson Tank during 1991 (Conan-Davies, 1992). A single line of 2.4 km, 100m spaced gravity was surveyed. In early 1993 WMC undertook a 25 hole drilling program for a total of 1,477m of air core and RC drilling. Of this total, sixteen holes (953m) were targeted at geophysical anomalies in the search for base metals, and nine holes (524m) were testing manganese oxide targets. Most of the targets drilled within the area of the Carappee Hill tenement were manganese oxide targets, whilst most drilled outside of the tenement were geophysical targets.

ABN: 64 123 993 233

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The results from the historical WMC drilling were used by both Archer and Monax to assist in the targeting the respective drill programs of each company. This meant that, both Monax and Archer drilled holes adjacent to the WMC drilling and as a result Archer has not included the WMC drill results in the calculation of the Jamieson Tank Exploration Target.

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Figure 3: Section 2, Interpretation of flat dipping mineralisation. The potential quantity and grade of the Exploration Target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

– Archer exploration (2008 2010)

Archer actively drilled the Carappee Hill portion of the Jamieson Tank Manganese Project during 2008 – 2010. The drilling in this area was focussed on manganese (southern tip of the Jamieson Tank Manganese Project) and copper-gold (Bender Prospect).

In 2008, two RC holes (CHRC014 and CHRC015) were drilled by Archer to test the vertical extensions to the known manganese mineralisation previously identified by WMC. The best intercept was from hole CHRC014 of 24m @ 12% manganese from 61m.

An 18 hole slimline RC drill program was completed during 4-9 June 2010, as part of the Farmin Agreement between Archer and OM Manganese Ltd (OMM). This drilling program was aimed at testing the extensions to the manganese and iron mineralisation intersected in drilling programs previously conducted by Archer in 2008 and Western Mining Corporation in 1993.

The main lithologies intersected by OMM included Quaternary sands, calcrete and iron laterite near surface, over bedrock, which comprised weathered schist, chert and interstitial bands of manganese oxide.

ABN: 64 123 993 233

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In total, 131 samples were taken for geochemical analysis. Encouraging manganese results quoted at a 10% Mn cut-off include:

Hole No From(m) To(m) Width(m) Mn(%) Fe(%) P(%)
JTRC130 28 33 5 14.6 8.0 0.02
JTRC131 28 30 2 17.8 9.7 0.07
JTRC132 28 30 2 15.0 9.2 0.10
JTRC133 29 35 6 15.0 10.7 0.09
JTRC 140 37
46
39
48
2
2
18.2
22.0
6.7
10.3
0.04
0.06
JTRC141 33
41
38
43
5
2
13.8
18.8
23.8
10.0
0.06
0.03

Table 2. Abridged summary of June 2010 Jamieson Tank RC drill results.

A summary listing of Archer ASX releases relating to the associated exploration activity is appended (Appendix 1).

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Figure 4. Location of OMM RC holes with historical drill holes (WMC and AXE)

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Monax exploration

In 2008 Monax commenced manganese and iron exploration, focussing on the Middleback Jaspilite unit. In 2008 Monax RC drilling at Jamieson Tank and Polinga returned encouraging manganese results. Several intercepts ranging from 1 to 5m of elevated manganese and iron with a peak value from Jamieson’s Tank of 34% Mn over 2m from JTRC036. In 2010 Monax entered a joint venture with OM Manganese Ltd (OMM) and they worked on several manganese prospects including Jamieson Tank, Polinga, Hodgins and Francis Prospects. After programs of geochemistry, IP and RC drilling OMM withdrew from the joint venture in 2012 with the grade of the manganese thought to be too low (<20% Mn) and not amenable to simple upgrading to make a saleable direct shipping ore product.

Previous work undertaken on the manganese at Jamieson Tank (MOX and OMH) was aimed at identifying material that could be beneficiated to a grade greater than 30% Mn, which was considered economic at the time. By 2012, it was believed that the ore present at Jamieson Tank could not do this. At that stage Monax’s exploration focus shifted to graphite.

The mineralisation drilled at Jamieson tank had not been reviewed until 2017, where the volume of the material present and the potential for discovering additional material was appreciated. In the review it was noticed that many holes were not drilled deep enough to “complete” drill sections, where a mineralised interval has been intersected by 2 or more holes providing information about its true width and overall width (Figure 2 and Figure 3). Considerably more drilling is required to understand the manganese mineralisation.

A summary listing of Archer and Monax ASX releases relating to the associated exploration activity is appended (Appendix 1).

Next Steps

During the period Q2 – Q3 calendar 2018, Archer is planning a review of the historical geophysical data (IP surveys, gravity, EM & magnetics) at Jamieson Tank, to better understand its relevance to manganese mineralisation. The Company will also undertake analysis and assay of old drill sample and collect additional geochemical samples for analysis.

RC and diamond drilling at Jamieson Tank to test the Exploration Target and provide additional “fresh” sample for metallurgical test work is unlikely to commence before the end of calendar 2018 as much of the area of the Exploration Target is under crop and Archer will need to wait until all crops are harvested before drilling can commence.

Drilling will be a combination of RC and diamond drilling and will target depths greater than the current drilling to allow Archer to better understand the behaviour of the geology and the orientation of the mineralisation. The current limitation of the drilling does not permit adequate interpretation to allow wire-framing to be undertaken (a necessary step for Resource Estimation).

ABN: 64 123 993 233

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The Jamieson Tank drilling targeted for the end of calendar 2018 will be subject to Archer gaining all necessary land owner and government consents to enter the land to drill and will also be subject to the Company having access to adequate funding to undertake the drilling at that time.

For further information, please contact:

Contact Details

Mr Greg English Executive Chairman Dr Mohammad Choucair Chief Executive Officer

Shareholders

For more information visit our website https://archerx.com.au/investors/

Tel: +61 8 8272 3288

Competent Person Statement

The information in this report that relates to Exploration Results and an Exploration Target is based on information compiled by Mr Wade Bollenhagen, a Competent Person who is a Member of the Australasian Institute of Mining and Metallurgy and is a full-time employee of Archer Exploration Limited.

Mr Bollenhagen has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr. Bollenhagen consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

ABN: 64 123 993 233

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Appendix 1: Previous and relevant Jamieson Tank ASX Announcements

The following announcements released to the ASX by Archer Exploration Limited (ASX:AXE) and Monax Mining Limited (ASX:MOX) contain results from RC, RAB and auger drilling at Jamieson Tank Manganese Project, SA.

Date Title of Announcement
Archer Exploration Limited announcements
25/03/08 Carappee Hill - Manganese and Iron Potential
11/04/08 More Promising Outlook for S.A. Manganese Project
11/06/08 Commencement of Drilling
28/10/08 Quarterly Activities Report
21/07/10 Encouragement from Manganese and Iron Projects
13/05/11 Manganese assay results from recent drilling on EL3711
Monax Mining Limited announcements
17/06/08 Monax`s Waddikee Drilling Confirms Manganese Mineralisation
19/09/08 Highly Encouraging Manganese and Iron Ore Results
18/12/08 Manganese Beneficiation Results - Waddikee Project
19/01/10 Waddikee Manganese Project Update
15/03/10 Waddikee Manganese Project Update
24/06/10 Waddikee Manganese and Iron Ore Drilling Results
16/07/10 Final Waddikee Drilling Results
30/07/10 June 2010 Quarterly Activities and Cashflows
09/05/11 High Grade Manganese from Waddikee Project
26/05/11 Revised Exploration Update
05/01/12 Significant anomaly discovered at Polinga Manganese Prospect
07/05/12 Manganese and Iron Ore drilling results at Waddikee

ABN: 64 123 993 233

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JORC Code, 2012 Edition – Table 1

Section 1 Sampling Techniques and Data

Criteria JORC Code Explanation Commentary
Sampling
Techniques

Nature and quality of sampling (e.g. cut channels, random chips, or
specific specialised industry standard measurement tools appropriate to
the minerals under investigation, such as downhole gamma sondes, or
handheld XRF instruments, etc.). These examples should not be taken as
limiting the broad meaning of sampling.

Include reference to measures taken to ensure sample representivity and
the appropriate calibration of any measurement tools or systems used.

Aspects of the determination of mineralisation that are Material to the
Public Report.

In cases where ‘industry standard’ work has been done this would be
relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m
samples from which 3 kg was pulverised to produce a 30 g charge for
fire assay’). In other cases more explanation may be required, such as
where there is coarse gold that has inherent sampling problems. Unusual
commodities or mineralisation types (e.g. submarine nodules) may
warrant disclosure of detailed information.

All work being reported is from 2008 to 2012 undertaken by Monax
Mining (ASX:MOX), all inferences made to grades come from assay
intervals analysed by Accredited Australian laboratories.

No reference to sample representivity can be made, although the
work undertaken was by professional individuals.

The term Mineralisation is applied to material above 4% Mn, with
continued metallurgical work, will show that cryptomelane material
can be processed to make Electrolytic Manganese Dioxide.

With additional work the methodologies of the analytical processes
undertaken can be reported, i.e. the crushing, grinding, digest and
analytic method of the sample can be reported. It is believed that
since these samples have been analysed within the past 10 years in
Australia, that an appropriate NATA laboratory would have been used
as the results were reported to the ASX.
Drilling
Techniques

Drill type (e.g. core, reverse circulation, open hole hammer, rotary air
blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or
standard tube, depth of diamond tails, face-sampling bit or other type,
whether core is oriented and if so, bywhat method, etc.).

All references are to most holes were drilled as Rotary Air bore (RAB)
with a smaller number as Air Core (AC) drilling, from 2008 to 2012.

ABN: 64 123 993 233

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Criteria JORC Code Explanation Commentary
Drill Sample
Recovery

Method of recording and assessing core and chip sample recoveries and
results assessed.

Measures taken to maximise sample recovery and ensure representative
nature of the samples.

Whether a relationship exists between sample recovery and grade and
whether sample bias may have occurred due to preferential loss/gain of
fine/coarse material.

The recovery of the sample material is unknown.
Logging
Whether core and chip samples have been geologically and
geotechnically logged to a level of detail to support appropriate Mineral
Resource estimation, mining studies and metallurgical studies.

Whether logging is qualitative or quantitative in nature. Core (or costean,
channel, etc.) photography.

The total length andpercentage of the relevant intersections logged.

The chip samples have been logged to a level of detail that could be
used in a Mineral Resource estimate.

Logging of the samples was undertaken in a qualitative and
quantitative manner, no diamond drilling was undertaken.
Sub-
Sampling
Techniques
and Sample
Preparation

If core, whether cut or sawn and whether quarter, half or all core taken.

If non-core, whether riffled, tube sampled, rotary split, etc. and whether
sampled wet or dry.

For all sample types, the nature, quality and appropriateness of the
sample preparation technique.

Quality control procedures adopted for all sub-sampling stages to
maximise representivity of samples.

Measures taken to ensure that the sampling is representative of the in-
situ material collected, including for instance results for field
duplicate/second-half sampling.

Whether sample sizes are appropriate to the grain size of the material
being sampled.

It is understood that all material was riffle split.

Although unknown, it is believed that Monax mining (MOX) would have
undertaken the appropriate methodologies of taking the sample and
analyses that was standard for the time.

Duplicates do not appear to have been taken.

Sample sizes have not been scrutinised at this stage.

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Criteria JORC Code Explanation Commentary
Quality of
Assay Data
and
Laboratory
Tests

The nature, quality and appropriateness of the assaying and laboratory
procedures used and whether the technique is considered partial or
total.

For geophysical tools, spectrometers, handheld XRF instruments, etc., the
parameters used in determining the analysis including instrument make
and model, reading times, calibrations factors applied and their
derivation, etc.

Nature of quality control procedures adopted (e.g. standards, blanks,
duplicates, external laboratory checks) and whether acceptable levels of
accuracy (i.e. lack of bias) and precision have been established.

Unknown at this stage, though the company whom under took the
work would have undertaken the appropriate procedures standard
for the time.

The use of quality controls is unknown at this time.
Verification
of Sampling
and Assaying

The verification of significant intersections by either independent or
alternative company personnel.

The use of twinned holes.

Documentation of primary data, data entry procedures, data verification,
data storage (physical and electronic) protocols.

Discuss any adjustment to assay data.

No verification has been undertaken at this point in time, this will be
undertaken in the future.
Location of
Data Points

Accuracy and quality of surveys used to locate drillholes (collar and
downhole surveys), trenches, mine workings and other locations used in
Mineral Resource estimation.

Specification of the grid system used.

Quality and adequacy of topographic control.

MGA94 Zone 53 grid coordinate system is used.

A hand-held GPS was used to identify the drill hole location.

Quality and adequacy is appropriate for this level of exploration.

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Criteria JORC Code Explanation Commentary
Data Spacing
and
Distribution

Data spacing for reporting of Exploration Results.

Whether the data spacing and distribution is sufficient to establish the
degree of geological and grade continuity appropriate for the Mineral
Resource and Ore Reserve estimation procedure(s) and classifications
applied.

Whether sample compositing has been applied.

The spacing of the drill lines is currently 200m apart, which is adequate
for an Exploration Target, however it is not for Mineral Resource
estimation.

The current line spacing of 200m is too wide for an Inferred Resource
Estimation.

No compositing has been applied.
Orientation
of Data in
Relation to
Geological
Structure

Whether the orientation of sampling achieves unbiased sampling of
possible structures and the extent to which this is known, considering
the deposit type.

If the relationship between the drilling orientation and the orientation of
key mineralised structures is considered to have introduced a sampling
bias, this should be assessed and reported if material.

The orientation of the drilling appears to be roughly orthogonal to
the strike of mineralisation and has not introduced a bias.
Sample
Security

The measures taken to ensure sample security.

It is assumed that best practices were undertaken at the time

All residual sample material is stored securely.
Audits or
Reviews

The results of any audits or reviews of sampling techniques and data.

None undertaken.

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Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria JORC Code Explanation Commentary
Mineral Tenement
and Land Tenure
Status

Type, reference name/number, location and ownership including
agreements or material issues with third parties such as joint ventures,
partnerships, overriding royalties, native title interests, historical sites,
wilderness or national park and environmental settings.

The security of the tenure held at the time of reporting along with any
known impediments to obtaining a licence to operate in the area.

Tenement status confirmed on SARIG.

All work being reported is from EL 5815 & 5920 (owned by Pirie
Resources Pty Ltd, a subsidiary of AXE).

The tenement is in good standing with no known impediments.
Exploration Done
by Other Parties

Acknowledgment and appraisal of exploration by other parties.

Western Mining Corp (WMC) undertook drilling in 1994
targeting the Manganese units at Jamieson Tank with a limited
RC drilling program.

In 2008 Archer undertook a limited program of 3 holes to test
the down dip extensions to the historical WMC drilling on EL
3711 (EL 5920).

In 2009, MOX commenced reporting rock chip samples from EL
5815, with the first drilling undertaken in 2008 and the last
holes reported on the 8thMay 2012.
Geology
Deposit type, geological setting and style of mineralisation.

The Manganese mineralisation is stratigraphically bound with
elevated levels of Ba, this indicates a potential distal VMS
environment.

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Criteria JORC Code Explanation Commentary
Drillhole
Information

A summary of all information material to the understanding of the
exploration results including a tabulation of the following information
for all Material drill holes:

Easting and northing of the drill hole collar

Elevation or RL (Reduced Level – elevation above sea level in metres)
of the drill hole collar

Dip and azimuth of the hole

Downhole length and interception depth

Hole length

If the exclusion of this information is justified on the basis that the
information is not Material and this exclusion does not detract from
the understanding of the report, the Competent Person should clearly
explain why this is the case.

Monax have reported the drilling in releases dated, 15th March
2010, 24th June 2010, 16th July 2010, 9th May 2011 and 8th May
2012.

Collar information such as Easting, Northing, Dip and Azimuth are
reported in these releases along with what was considered
significant mineralisation.

For completeness of reporting the details are presented in
Appendix 2 of this report.
Data Aggregation
Methods

In reporting Exploration Results, weighting averaging techniques,
maximum and/or minimum grade truncations (e.g. cutting of high
grades) and cut-off grades are usually Material and should be stated.

Where aggregate intercepts incorporate short lengths of high grade
results and longer lengths of low grade results, the procedure used for
such aggregation should be stated and some typical examples of such
aggregations should be shown in detail.

The assumptions used for any reporting of metal equivalent values
should be clearlystated.

No weighting of data has been undertaken, all discussion about
sample intervals refers to single metre intervals.

No metal equivalents are being used.

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Criteria JORC Code Explanation Commentary
Relationship
Between
Mineralisation
Widths and
Intercept Lengths

These relationships are particularly important in the reporting of
Exploration Results.

If the geometry of the mineralisation with respect to the drill hole angle
is known, its nature should be reported.

If it is not known and only the downhole lengths are reported, there
should be a clear statement to this effect (e.g. ‘downhole length, true
width not known’).

No relationship appears to occur between widths and lengths at
this stage.

All holes drilled appear to be orthogonal to the strike of the
mineralisation.

Any reference to lengths of mineralisation, this is referring to
down hole only.
Diagrams
Appropriate maps and sections (with scales) and tabulations of
intercepts should be included for any significant discovery being
reported. These should include, but not be limited to a plan view of drill
hole collar locations and appropriate sectional views.

See main body of report.
Balanced
Reporting

Where comprehensive reporting of all Exploration Results is not
practicable, representative reporting of both low and high grades
and/or widths should be practiced to avoid misleading reporting of
Exploration Results.

The reporting is considered to be balanced.
Other Substantive
Exploration Data

Other exploration data, if meaningful and material, should be reported
including (but not limited to): geological observations; geophysical
survey results; geochemical survey results; bulk samples – size and
method of treatment; metallurgical test results; bulk density,
groundwater,
geotechnical
and
rock
characteristics;
potential
deleterious or contaminatingsubstances.

Considerable historical work was completed with geophysical
surveys (IP, EM, gravity and magnetics) over the target area to
assist in understanding the mineralisation. This work needs
review.

Additional regional targets have not been followed up.
Further Work
The nature and scale of planned further work (e.g. tests for lateral
extensions or depth extensions or large-scale step-out drilling).

Diagrams clearly highlighting the areas of possible extensions, including
the main geological interpretations and future drilling areas, provided
this information is not commercially sensitive.

Figures in the body of this report highlight the gaps in the data.

Additional interpretation of geophysical data, reviews and
assessments of regional targets and infill/ extensional drilling at
Jamieson Tank with a view to report a JORC compliant resource.

Additional and ongoing metallurgical research work to refine the
EMDprocess.

ABN: 64 123 993 233

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Section 3 Estimation and Reporting of Mineral Resources

Criteria JORC Code explanation Commentary
Database integrity
Measures taken to ensure that data has not been corrupted by, for
example, transcription or keying errors, between its initial collection
and its use for Mineral Resource estimation purposes.

Data validation procedures used.

No resource is being reported, although there is considerable
data, it is insufficient to be used for an Inferred Resource.

Data collection and storage is of a high standard.

No validation has been undertaken.
Site visits
Comment on any site visits undertaken by the Competent Person and
the outcome of those visits.

If no site visits have been undertaken indicate whythis is the case.

The competent person has visited the site.
Geological
interpretation

Confidence in (or conversely, the uncertainty of) the geological
interpretation of the mineral deposit.

Nature of the data used and of any assumptions made.

The effect, if any, of alternative interpretations on Mineral Resource
estimation.

The use of geology in guiding and controlling Mineral Resource
estimation.

The factors affecting continuity both of grade and geology.

There is considerable work to be done to improve the geological
model, as such a mineral resource cannot be reported. A lack of
structural
information prevents and adequate geological
interpretation, i.e. diamond drilling will reduce the uncertainty of
the geological model.

Broad assumptions are made about the general dip of the
mineralisation and its relationship to the stratigraphy and its
orientation in the area.

There are a number of faults present in the area that have created
off sets in the strike of the mineralisation, the location of these has
not been defined by drilling.

A Mineral Resource is not being reported, an Exploration target is
reported and geology / mineralogy does guide the wireframing.

Faulting in the area will affect continuity of grade and geology,
this is still unknown.
Dimensions
The extent and variability of the Mineral Resource expressed as length
(along strike or otherwise), plan width, and depth below surface to the
upper and lower limits of the Mineral Resource.

No Mineral Resource is being reported an Exploration target is
being reported.

A range is presented for the tonnage prediction, based upon the
depth extent projected i.e. from 60m to 100m

==> picture [157 x 29] intentionally omitted <==

ABN: 64 123 993 233

Criteria JORC Code explanation Commentary
Lower Range Upper Range
cumulative width
(m)
20 20
Strike(m) 6600 6600
depth(m) 60 100
SG 1.9 1.9
tonnes 15,000,000 25,000,000
Estimation
and
modeling
techniques

The nature and appropriateness of the estimation technique(s) applied
and key assumptions, including treatment of extreme grade values,
domaining, interpolation parameters and maximum distance of
extrapolation from data points. If a computer assisted estimation
method was chosen include a description of computer software and
parameters used.

The availability of check estimates, previous estimates and/or mine
production records and whether the Mineral Resource estimate takes
appropriate account of such data.

The assumptions made regarding recovery of by-products.

Estimation of deleterious elements or other non-grade variables of
economic significance (e.g. sulphur for acid mine drainage
characterisation).

In the case of block model interpolation, the block size in relation to
the average sample spacing and the search employed.

Any assumptions behind modelling of selective mining units.

Anyassumptions about correlation between variables.

There is no Mineral Resource Estimation being reported. No
wireframes have been created, no statistical analysis of the
mineralisation has been undertaken, no estimation of the grade
has been undertaken into a block model.

An Exploration target is being presented. Simple sectional
interpretation has been undertaken on the Mn mineralisation, as
such a cumulative width of 20m has been assigned to the sections
over a strike of 6,600m.

ABN: 64 123 993 233

==> picture [157 x 29] intentionally omitted <==

Criteria JORC Code explanation Commentary

Description of how the geological interpretation was used to control
the resource estimates.

Discussion of basis for using or not using grade cutting or capping.

The process of validation, the checking process used, the comparison
of model data to drill hole data, and use of reconciliation data if
available.
Moisture
Whether the tonnages are estimated on a dry basis or with natural
moisture,and the method of determination of the moisture content.

Only an estimate of 1.9 has been used for the Exploration target,
no mineral Resource is beingreported.
Cut-off parameters
The basis of the adopted cut-off grade(s) or quality parameters
applied.

No Mineral Resource is being reported an Exploration target is
being presented
Mining factors or
assumptions

Assumptions made regarding possible mining methods, minimum
mining dimensions and internal (or, if applicable, external) mining
dilution. It is always necessary as part of the process of determining
reasonable prospects for eventual economic extraction to consider
potential mining methods, but the assumptions made regarding
mining methods and parameters when estimating Mineral Resources
may not always be rigorous. Where this is the case, this should be
reported with an explanation of the basis of the mining assumptions
made.

No Mineral Resource is being reported an Exploration target is
being presented
Metallurgical
factors
or
assumptions

The basis for assumptions or predictions regarding metallurgical
amenability. It is always necessary as part of the process of determining
reasonable prospects for eventual economic extraction to consider
potential metallurgical methods, but the assumptions regarding
metallurgical treatment processes and parameters made when
reporting Mineral Resources may not always be rigorous. Where this
is the case, this should be reported with an explanation of the basis of
the metallurgical assumptions made.

No Mineral Resource is being reported an Exploration target is
being presented.

Test work to determine the validity of the material being discussed
being converted into a commercial product was undertaken by a
commercial laboratory Kemetco (based in Canada).

Whereby a composite sample grading 12% Mn was leached using
SO2, providing a pregnant liquor that was then processed to
generate a material called Electrolytic Manganese Dioxide. Future
work will be orientated to determine a cut off value for Mn to
create this material.

ABN: 64 123 993 233

==> picture [157 x 29] intentionally omitted <==

Criteria JORC Code explanation Commentary
Environmental
factors
or
assumptions

Assumptions made regarding possible waste and process residue
disposal options. It is always necessary as part of the process of
determining reasonable prospects for eventual economic extraction
to consider the potential environmental impacts of the mining and
processing operation. While at this stage the determination of
potential environmental impacts, particularly for a greenfields project,
may not always be well advanced, the status of early consideration of
these potential environmental impacts should be reported. Where
these aspects have not been considered this should be reported with
an explanation of the environmental assumptions made.

No Mineral Resource is being reported an Exploration target is
being presented
Bulk density
Whether assumed or determined. If assumed, the basis for the
assumptions. If determined, the method used, whether wet or dry, the
frequency
of
the
measurements,
the
nature,
size
and
representativeness of the samples.

The bulk density for bulk material must have been measured by
methods that adequately account for void spaces (vugs, porosity, etc.),
moisture and differences between rock and alteration zones within the
deposit.

Discuss assumptions for bulk density estimates used in the evaluation
process of the different materials.

No Mineral Resource is being reported an Exploration target is
being presented.
Classification
The basis for the classification of the Mineral Resources into varying
confidence categories.

Whether appropriate account has been taken of all relevant factors (i.e.
relative confidence in tonnage/grade estimations, reliability of input
data, confidence in continuity of geology and metal values, quality,
quantity and distribution of the data).

Whether the result appropriately reflects the Competent Person’s view
of the deposit.

No Mineral Resource is being reported an Exploration target is
being presented.

The results of any audits or reviews of Mineral Resource estimates.
• No Mineral Resource is being reported an Exploration target is
being presented.

ABN: 64 123 993 233

==> picture [157 x 29] intentionally omitted <==

Criteria JORC Code explanation Commentary
Audits or reviews
Discussion
of
relative
accuracy/
confidence

Where appropriate a statement of the relative accuracy and confidence
level in the Mineral Resource estimate using an approach or procedure
deemed appropriate by the Competent Person. For example, the
application of statistical or geostatistical procedures to quantify the
relative accuracy of the resource within stated confidence limits, or, if
such an approach is not deemed appropriate, a qualitative discussion
of the factors that could affect the relative accuracy and confidence of
the estimate.

The statement should specify whether it relates to global or local
estimates, and, if local, state the relevant tonnages, which should be
relevant to technical and economic evaluation. Documentation should
include assumptions made and the procedures used.

These statements of relative accuracy and confidence of the estimate
should be compared withproduction data, where available.

No Mineral Resource is being reported an Exploration target is
being presented.

Additional drilling is required to improve the confidence in the
mineralisation such that a mineral resource can be reported to
allow further studies on the EMD potential.

ABN: 64 123 993 233

==> picture [157 x 29] intentionally omitted <==

Appendix 2: Information for holes drilled for Manganese on the Eyre Peninsula

Hole_ID Easting Northing Type Depth RL Dip Azimuth Date Drilled Prospect
BWRC001 617174 6319197 RAB 57 200 -60 270 26-Mar-11 Bunora West
BWRC002 617198 6319198 RAB 60 200 -60 270 26-Mar-11 Bunora West
BWRC003 617221 6319199 RAB 60 202 -60 270 26-Mar-11 Bunora West
CHRC001 622600 6296040 RC 127 210 -60 270 06-Jun-08 Jamieson Tank
CHRC002 622809 6295938 RC 37 210 -60 270 20-Jun-08 Jamieson Tank
CHRC003 622819 6295932 RC 137 210 -60 285 21-Jun-08 Jamieson Tank
CHRC004 622991 6295847 RC 120 210 -60 282 22-Jun-08 Jamieson Tank
CHRC005 622962 6295864 RC 115 210 -60 285 23-Jun-08 Jamieson Tank
CHRC006 623024 6295835 RC 139 210 -60 279 23-Jun-08 Jamieson Tank
CHRC013 623151 6295785 RC 127 210 -60 270 30-Jun-08 Jamieson Tank
CHRC014 623077 6295660 RC 139 210 -60 270 30-Jun-08 Jamieson Tank
CHRC015 623112 6295568 RC 128 210 -60 270 01-Jul-08 Jamieson Tank
FRC001 630560 6311913 RC 163 283 -90 0 27-Mar-13 Francis
HRC001 617702 6323805 RAB 60 206.77 -60 270 26-Mar-11 Hodgins
HRC002 617722 6323802 RAB 60 207.89 -60 270 30-Mar-11 Hodgins
HRC003 617671 6323800 RAB 55 205.53 -60 270 30-Mar-11 Hodgins
HRC004 617649 6323800 RAB 45 203.93 -60 270 31-Mar-11 Hodgins
HRC005 617659 6323801 RAB 56 203.93 -60 90 31-Mar-11 Hodgins
HRC006 617762 6323800 RAB 25 208.61 -60 270 31-Mar-11 Hodgins
HRC007 617645 6323750 RC 52 198 -60 270 26-Mar-12 Hodgins
HRC008 617668 6323750 RC 51 210 -60 270 27-Mar-12 Hodgins
HRC009 617707 6323750 RC 51 201 -60 270 27-Mar-12 Hodgins
HRC010 617724 6323750 RC 51 217 -60 270 27-Mar-12 Hodgins
HRC011 617552 6323023 AC 46 192 -60 270 27-Mar-12 Hodgins
HRC012 617599 6323027 RC 60 199 -60 270 27-Mar-12 Hodgins
HRC013 617651 6323027 AC 27 203 -60 270 28-Mar-12 Hodgins
HRC014 617804 6324252 RAB 42 198 -60 270 02-Apr-12 Hodgins
HRC015 617828 6324251 RAB 50 197 -60 270 02-Apr-12 Hodgins
HRC016 617850 6324247 RAB 30 194 -60 270 02-Apr-12 Hodgins
HRC017 617875 6324250 AC 30 200 -60 270 02-Apr-12 Hodgins
JTRC001 622358 6296608 RC 43 248 -60 290 21-May-08 Jamieson Tank
JTRC002 622379 6296594 RC 67 250 -60 290 21-May-08 Jamieson Tank
JTRC003 622400 6296586 RC 85 250 -60 290 24-May-08 Jamieson Tank
JTRC004 622411 6296778 RC 49 251 -60 290 29-May-08 Jamieson Tank
JTRC005 622433 6296768 RC 67 250 -60 290 29-May-08 Jamieson Tank
JTRC006 622454 6296759 RC 85 251 -60 290 27-May-08 Jamieson Tank
JTRC007 622473 6296750 RC 109 252 -60 290 25-May-08 Jamieson Tank
JTRC008 622494 6296740 RC 97 255 -60 290 30-May-08 Jamieson Tank
JTRC009 622518 6296730 RC 55 251 -60 290 30-May-08 Jamieson Tank
JTRC010 622533 6296722 RC 25 253 -60 290 31-May-08 Jamieson Tank
JTRC011 623151 6298056 RC 49 259 -60 290 31-May-08 Jamieson Tank
JTRC012 623172 6298047 RC 67 259 -60 290 31-May-08 Jamieson Tank
JTRC013 623195 6298040 RC 79 256 -60 290 01-Jun-08 Jamieson Tank
JTRC014 623216 6298029 RC 92 263 -60 290 01-Jun-08 Jamieson Tank

ABN: 64 123 993 233

==> picture [157 x 29] intentionally omitted <==

Hole_ID Easting Northing Type Depth RL Dip Azimuth Date Drilled Prospect
JTRC015 623236 6298022 RC 91 259 -60 290 02-Jun-08 Jamieson Tank
JTRC016 623723 6298047 RC 49 272 -60 290 03-Jun-08 Jamieson Tank
JTRC017 623742 6298035 RC 49 272 -60 290 03-Jun-08 Jamieson Tank
JTRC018 623762 6298025 RC 49 271 -60 290 03-Jun-08 Jamieson Tank
JTRC019 623782 6298013 RC 67 270 -60 290 03-Jun-08 Jamieson Tank
JTRC020 623802 6298002 RC 61 269 -60 290 03-Jun-08 Jamieson Tank
JTRC021 623815 6297995 RC 37 273 -60 290 03-Jun-08 Jamieson Tank
JTRC022 623836 6297982 RC 67 273 -60 290 04-Jun-08 Jamieson Tank
JTRC023 623902 6298115 RC 49 272 -60 290 04-Jun-08 Jamieson Tank
JTRC024 623923 6298105 RC 67 276 -60 290 04-Jun-08 Jamieson Tank
JTRC025 623944 6298095 RC 43 275 -60 290 04-Jun-08 Jamieson Tank
JTRC026 623965 6298085 RC 37 277 -60 290 05-Jun-08 Jamieson Tank
JTRC027 623987 6298075 RC 49 278 -60 290 05-Jun-08 Jamieson Tank
JTRC028 624004 6298066 RC 85 279 -60 290 05-Jun-08 Jamieson Tank
JTRC029 624035 6298499 RC 79 268 -60 290 05-Jun-08 Jamieson Tank
JTRC030 624043 6298495 RC 49 271 -60 290 06-Jun-08 Jamieson Tank
JTRC031 624051 6298490 RC 55 271 -60 290 06-Jun-08 Jamieson Tank
JTRC032 624054 6298490 RC 55 273 -90 0 06-Jun-08 Jamieson Tank
JTRC033 624038 6298470 RC 49 273 -60 290 08-Jun-08 Jamieson Tank
JTRC034 624046 6298466 RC 49 273 -60 290 09-Jun-08 Jamieson Tank
JTRC035 624048 6298492 RC 30 273 -60 20 09-Jun-08 Jamieson Tank
JTRC036 623609 6297159 RC 55 284 -60 110 10-Jun-08 Jamieson Tank
JTRC037 623588 6297169 RC 55 285 -60 110 10-Jun-08 Jamieson Tank
JTRC038 623565 6297181 RC 61 283 -60 110 11-Jun-08 Jamieson Tank
JTRC039 623546 6297192 RC 25 284 -60 110 11-Jun-08 Jamieson Tank
JTRC040 623124 6298001 RC 49 259 -60 290 11-Jun-08 Jamieson Tank
JTRC041 623144 6297991 RC 49 261 -60 290 11-Jun-08 Jamieson Tank
JTRC042 623163 6297980 RC 55 263 -60 290 12-Jun-08 Jamieson Tank
JTRC043 623183 6297970 RC 85 264 -60 290 12-Jun-08 Jamieson Tank
JTRC044 623204 6297960 RC 85 265 -60 290 12-Jun-08 Jamieson Tank
JTRC045 623901 6298901 RC 44 244 -60 270 06-May-10 Jamieson Tank
JTRC046 623925 6298903 RC 48 244 -60 270 06-May-10 Jamieson Tank
JTRC047 623952 6298903 AC 39 244 -60 270 07-May-10 Jamieson Tank
JTRC048 623962 6298904 AC 31 244 -60 270 07-May-10 Jamieson Tank
JTRC049 623952 6298701 RC 52 251 -60 270 07-May-10 Jamieson Tank
JTRC050 623973 6298704 RAB 49 257 -60 270 08-May-10 Jamieson Tank
JTRC051 623999 6298702 RAB 64 265 -60 270 08-May-10 Jamieson Tank
JTRC052 624029 6298443 RAB 58 281 -60 270 08-May-10 Jamieson Tank
JTRC053 624055 6298442 RAB 40 280 -60 270 08-May-10 Jamieson Tank
JTRC054 624056 6298443 RAB 46 280 -90 0 08-May-10 Jamieson Tank
JTRC055 623960 6298431 RAB 49 273 -60 270 09-May-10 Jamieson Tank
JTRC056 623933 6298431 RAB 46 272 -60 270 09-May-10 Jamieson Tank
JTRC057 623909 6298433 RAB 46 271 -60 270 09-May-10 Jamieson Tank
JTRC058 623985 6298431 RAB 79 273 -60 270 09-May-10 Jamieson Tank
JTRC059 623849 6298101 RAB 69 269 -60 270 09-May-10 Jamieson Tank

ABN: 64 123 993 233

==> picture [157 x 29] intentionally omitted <==

Hole_ID Easting Northing Type Depth RL Dip Azimuth Date Drilled Prospect
JTRC060 623873 6298100 RAB 70 270 -60 270 11-May-10 Jamieson Tank
JTRC061 623898 6298100 RAB 64 271 -60 270 11-May-10 Jamieson Tank
JTRC062 623723 6297901 RAB 49 275 -60 270 11-May-10 Jamieson Tank
JTRC063 623749 6297902 RAB 45 271 -60 270 11-May-10 Jamieson Tank
JTRC064 623773 6297899 RAB 58 267 -60 270 11-May-10 Jamieson Tank
JTRC065 623798 6297898 RAB 58 265 -60 270 11-May-10 Jamieson Tank
JTRC066 623874 6297900 RAB 58 271 -60 270 11-May-10 Jamieson Tank
JTRC067 623900 6297897 RAB 55 274 -60 270 12-May-10 Jamieson Tank
JTRC068 623924 6297899 RAB 52 279 -60 270 12-May-10 Jamieson Tank
JTRC069 623949 6297899 RAB 55 280 -60 270 12-May-10 Jamieson Tank
JTRC070 623976 6297901 RAB 52 283 -60 270 12-May-10 Jamieson Tank
JTRC071 623816 6297900 RAB 58 274 -60 270 12-May-10 Jamieson Tank
JTRC072 623672 6297700 RAB 50 262 -60 270 12-May-10 Jamieson Tank
JTRC073 623698 6297701 RAB 53 263 -60 270 13-May-10 Jamieson Tank
JTRC074 623723 6297699 RAB 56 269 -60 270 13-May-10 Jamieson Tank
JTRC075 623750 6297700 RAB 50 271 -60 270 13-May-10 Jamieson Tank
JTRC076 623802 6297702 RAB 49 272 -60 270 13-May-10 Jamieson Tank
JTRC077 623822 6297701 RAB 53 273 -60 270 13-May-10 Jamieson Tank
JTRC078 623849 6297704 RAB 58 267 -60 270 14-May-10 Jamieson Tank
JTRC079 623872 6297698 RAB 46 270 -60 270 14-May-10 Jamieson Tank
JTRC080 623388 6297503 RAB 61 268 -60 270 14-May-10 Jamieson Tank
JTRC081 623416 6297502 RAB 58 264 -60 270 14-May-10 Jamieson Tank
JTRC082 623599 6297501 RAB 52 268 -60 270 14-May-10 Jamieson Tank
JTRC083 623625 6297500 RAB 70 250 -60 270 15-May-10 Jamieson Tank
JTRC084 623648 6297501 RAB 61 253 -60 270 15-May-10 Jamieson Tank
JTRC085 623675 6297504 RAB 72 271 -60 270 15-May-10 Jamieson Tank
JTRC086 623726 6297502 RC 47 272 -60 270 15-May-10 Jamieson Tank
JTRC087 623750 6297500 RAB 73 269 -60 270 17-May-10 Jamieson Tank
JTRC088 623775 6297500 RAB 73 277 -60 270 17-May-10 Jamieson Tank
JTRC089 623798 6297505 RAB 73 280 -60 270 17-May-10 Jamieson Tank
JTRC090 623351 6297301 RAB 67 269 -60 270 17-May-10 Jamieson Tank
JTRC091 623374 6297299 RAB 61 276 -60 270 18-May-10 Jamieson Tank
JTRC092 623493 6297301 RAB 55 278 -60 270 18-May-10 Jamieson Tank
JTRC093 623524 6297301 RAB 58 287 -60 270 18-May-10 Jamieson Tank
JTRC094 623552 6297303 RAB 70 285 -60 270 18-May-10 Jamieson Tank
JTRC095 623572 6297304 RAB 67 274 -60 270 18-May-10 Jamieson Tank
JTRC096 623601 6297303 RAB 58 277 -60 270 19-May-10 Jamieson Tank
JTRC097 623624 6297302 RAB 47 274 -60 270 19-May-10 Jamieson Tank
JTRC098 623649 6297301 RAB 43 274 -60 270 19-May-10 Jamieson Tank
JTRC099 623675 6297301 RAB 49 271 -60 270 19-May-10 Jamieson Tank
JTRC100 623700 6297301 RAB 64 272 -60 270 19-May-10 Jamieson Tank
JTRC101 623724 6297300 RAB 61 273 -60 270 20-May-10 Jamieson Tank
JTRC102 623299 6297098 RAB 55 264 -60 270 20-May-10 Jamieson Tank
JTRC103 623326 6297102 RAB 52 266 -60 270 20-May-10 Jamieson Tank
JTRC104 623448 6297101 RAB 61 279 -60 270 20-May-10 Jamieson Tank

ABN: 64 123 993 233

==> picture [157 x 29] intentionally omitted <==

Hole_ID Easting Northing Type Depth RL Dip Azimuth Date Drilled Prospect
JTRC105 623473 6297101 RAB 23 280 -60 270 20-May-10 Jamieson Tank
JTRC106 623496 6297100 RAB 43 280 -60 270 20-May-10 Jamieson Tank
JTRC107 623524 6297101 RAB 49 279 -60 270 21-May-10 Jamieson Tank
JTRC108 623548 6297103 RAB 86 279 -60 270 21-May-10 Jamieson Tank
JTRC109 623577 6297101 RAB 40 274 -60 270 27-May-10 Jamieson Tank
JTRC110 623601 6297103 RAB 40 274 -60 270 27-May-10 Jamieson Tank
JTRC111 623624 6297100 RAB 52 273 -60 270 27-May-10 Jamieson Tank
JTRC112 623654 6297101 RAB 25 267 -60 270 29-May-10 Jamieson Tank
JTRC113 623398 6296900 RAB 61 265 -60 270 29-May-10 Jamieson Tank
JTRC114 623428 6296902 RAB 70 265 -60 270 29-May-10 Jamieson Tank
JTRC115 623451 6296901 RAB 58 266 -60 270 29-May-10 Jamieson Tank
JTRC116 623469 6296900 RAB 58 266 -60 270 29-May-10 Jamieson Tank
JTRC117 623498 6296900 RAB 61 267 -60 270 30-May-10 Jamieson Tank
JTRC118 623525 6296902 RAB 58 267 -60 270 30-May-10 Jamieson Tank
JTRC119 623552 6296903 RAB 61 266 -60 270 30-May-10 Jamieson Tank
JTRC120 623574 6296902 RAB 70 265 -60 270 30-May-10 Jamieson Tank
JTRC121 623600 6296902 RAB 61 263 -60 270 02-Jun-10 Jamieson Tank
JTRC122 623625 6296903 RAB 50 263 -60 270 02-Jun-10 Jamieson Tank
JTRC123 623651 6296904 RAB 50 263 -60 270 02-Jun-10 Jamieson Tank
JTRC124 623337 6296632 RAB 58 244 -60 270 03-Jun-10 Jamieson Tank
JTRC125 623367 6296637 RAB 58 243 -60 270 03-Jun-10 Jamieson Tank
JTRC126 623429 6296640 RAB 48 243 -60 270 03-Jun-10 Jamieson Tank
JTRC127 623449 6296639 RAB 28 243 -60 270 04-Jun-10 Jamieson Tank
JTRC128 623227 6296299 RAB 52 242 -60 270 04-Jun-10 Jamieson Tank
JTRC129 623251 6296300 AC 42 243 -60 270 05-Jun-10 Jamieson Tank
JTRC130 623275 6296300 AC 48 244 -60 270 05-Jun-10 Jamieson Tank
JTRC131 623300 6296302 AC 30.5 245 -60 270 05-Jun-10 Jamieson Tank
JTRC132 623326 6296304 AC 35 246 -60 270 05-Jun-10 Jamieson Tank
JTRC133 623312 6296301 AC 36 245 -60 270 05-Jun-10 Jamieson Tank
JTRC134 623150 6296102 AC 51 249 -60 270 06-Jun-10 Jamieson Tank
JTRC135 623174 6296102 AC 37 249 -60 270 06-Jun-10 Jamieson Tank
JTRC136 623199 6296101 AC 46 249 -60 270 06-Jun-10 Jamieson Tank
JTRC137 623224 6296101 AC 53 250 -60 270 07-Jun-10 Jamieson Tank
JTRC138 623249 6296100 AC 46 251 -60 270 07-Jun-10 Jamieson Tank
JTRC139 623101 6295900 AC 51 247 -60 270 07-Jun-10 Jamieson Tank
JTRC140 623124 6295899 AC 51 248 -60 270 07-Jun-10 Jamieson Tank
JTRC141 623148 6295901 AC 45 248 -60 270 08-Jun-10 Jamieson Tank
JTRC142 623176 6295900 AC 46 249 -60 270 08-Jun-10 Jamieson Tank
JTRC143 623045 6295900 AC 15 247 -60 270 08-Jun-10 Jamieson Tank
JTRC144 622951 6295500 AC 21 254 -60 270 08-Jun-10 Jamieson Tank
JTRC145 622973 6295500 AC 33 255 -60 270 08-Jun-10 Jamieson Tank
JTRC146 621423 6293050 AC 49 240 -60 270 04-Mar-11 Jamieson Tank
JTRC147 621450 6293051 RAB 59 232 -60 270 04-Mar-11 Jamieson Tank
JTRC148 621473 6293048 AC 54 236 -60 270 05-Mar-11 Jamieson Tank
JTRC149 621499 6293049 RAB 40 241 -60 270 05-Mar-11 Jamieson Tank

ABN: 64 123 993 233

==> picture [157 x 29] intentionally omitted <==

Hole_ID Easting Northing Type Depth RL Dip Azimuth Date Drilled Prospect
JTRC150 621527 6293048 RAB 46 239 -60 270 05-Mar-11 Jamieson Tank
JTRC151 621550 6293047 RAB 49 240 -60 270 05-Mar-11 Jamieson Tank
JTRC152 621575 6293049 RAB 43 240 -60 270 06-Mar-11 Jamieson Tank
JTRC153 621599 6293050 RAB 16 239 -60 270 06-Mar-11 Jamieson Tank
JTRC153A 621600 6293050 RAB 60 239 -60 270 09-Mar-11 Jamieson Tank
JTRC154 621624 6293048 RAB 60 242 -60 270 09-Mar-11 Jamieson Tank
JTRC155 621651 6293050 RAB 60 240 -90 270 09-Mar-11 Jamieson Tank
JTRC156 621675 6293048 RAB 60 240 -60 270 09-Mar-11 Jamieson Tank
JTRC157 621700 6293050 RAB 61 237 -60 270 09-Mar-11 Jamieson Tank
JTRC158 621722 6293049 RAB 60 234 -60 270 10-Mar-11 Jamieson Tank
JTRC159 621750 6293049 RAB 60 240 -60 270 10-Mar-11 Jamieson Tank
JTRC160 621777 6293050 AC 60 239 -60 270 10-Mar-11 Jamieson Tank
JTRC161 622198 6294075 AC 37 242 -60 270 10-Mar-11 Jamieson Tank
JTRC162 622225 6294079 RC 54 237 -60 270 11-Mar-11 Jamieson Tank
JTRC163 622254 6294075 RAB 60 241 -60 270 11-Mar-11 Jamieson Tank
JTRC164 622275 6294077 RAB 60 239 -60 270 11-Mar-11 Jamieson Tank
JTRC165 622296 6294076 RAB 19 243 -60 270 11-Mar-11 Jamieson Tank
JTRC165A 622296 6294076 RAB 52 243 -60 270 11-Mar-11 Jamieson Tank
JTRC166 622324 6294076 RAB 52 243 -60 270 14-Mar-11 Jamieson Tank
JTRC167 622350 6294075 RAB 60 239 -60 270 18-Mar-11 Jamieson Tank
JTRC168 622375 6294079 RAB 58 246 -60 270 18-Mar-11 Jamieson Tank
JTRC169 622351 6294799 RAB 54 237 -60 270 20-Mar-11 Jamieson Tank
JTRC170 622372 6294794 RAB 60 245 -60 270 20-Mar-11 Jamieson Tank
JTRC171 622402 6294799 RAB 52 243 -60 270 20-Mar-11 Jamieson Tank
JTRC172 622427 6294798 RAB 50 240 -60 270 20-Mar-11 Jamieson Tank
JTRC173 622450 6294802 RAB 60 239 -60 270 21-Mar-11 Jamieson Tank
JTRC174 622475 6294802 RAB 66 243 -60 270 21-Mar-11 Jamieson Tank
JTRC175 622494 6294803 RAB 61 252 -60 270 21-Mar-11 Jamieson Tank
JTRC176 622526 6294803 RAB 60 252 -60 270 21-Mar-11 Jamieson Tank
JTRC177 622550 6294798 RAB 42 249 -60 270 21-Mar-11 Jamieson Tank
JTRC178 622575 6294800 RAB 49 244 -60 270 22-Mar-11 Jamieson Tank
JTRC179 622600 6294797 RAB 66 245 -60 270 22-Mar-11 Jamieson Tank
JTRC180 622628 6294802 RAB 60 249 -60 270 22-Mar-11 Jamieson Tank
JTRC181 622654 6294803 RAB 60 255 -60 270 22-Mar-11 Jamieson Tank
JTRC182 622849 6295192 RAB 60 243 -60 270 20-Mar-11 Jamieson Tank
JTRC183 622827 6295200 RAB 60 250 -60 270 19-Mar-11 Jamieson Tank
JTRC184 622799 6295198 RAB 60 243 -60 270 19-Mar-11 Jamieson Tank
JTRC185 622948 6295396 RAB 60 245 -60 270 19-Mar-11 Jamieson Tank
JTRC186 622975 6295397 RAB 60 245 -60 270 19-Mar-11 Jamieson Tank
JTRC187 623001 6295396 RAB 60 246 -60 270 19-Mar-11 Jamieson Tank
JTRC188 622178 6294708 RC 31 239 -60 270 22-Mar-12 Jamieson Tank
JTRC189 622203 6294703 RC 39 234 -60 270 22-Mar-12 Jamieson Tank
JTRC190 622222 6294703 RC 49 233 -60 270 22-Mar-12 Jamieson Tank
JTRC191 622246 6294700 RC 49 236 -60 270 23-Mar-12 Jamieson Tank
JTRC192 622420 6298198 RC 61 245 -60 270 28-Mar-12 Jamieson Tank

ABN: 64 123 993 233

==> picture [157 x 29] intentionally omitted <==

Hole_ID Easting Northing Type Depth RL Dip Azimuth Date Drilled Prospect
JTRC193 622475 6298200 RC 51 239 -60 270 29-Mar-12 Jamieson Tank
JTRC194 622526 6298202 RC 51 245 -60 270 29-Mar-12 Jamieson Tank
JTRC195 623120 6298392 RC 51 235 -60 270 29-Mar-12 Jamieson Tank
JTRC196 623147 6298403 AC 51 247 -60 270 29-Mar-12 Jamieson Tank
JTRC197 623173 6298403 RC 51 247 -60 270 30-Mar-12 Jamieson Tank
JTRC198 624004 6299048 RC 51 258 -60 270 30-Mar-12 Jamieson Tank
JTRC199 624043 6299048 RC 46 259 -60 270 31-Mar-12 Jamieson Tank
JTRC200 624000 6297707 RC 51 271 -60 270 31-Mar-12 Jamieson Tank
JTRC201 621778 6293802 AC 45 231 -60 270 21-Mar-12 Jamieson Tank
JTRC202 621795 6293804 AC 42 230 -60 270 21-Mar-12 Jamieson Tank
JTRC203 621822 6293805 AC 51 233 -60 270 21-Mar-12 Jamieson Tank
JTRC204 621844 6293804 AC 51 231 -60 270 21-Mar-12 Jamieson Tank
JTRC205 621868 6293806 RC 49 234 -60 270 21-Mar-12 Jamieson Tank
JTRC206 621900 6293803 AC 60 237 -60 270 22-Mar-12 Jamieson Tank
LRC001 629360 6317919 RC 67 271 -60 225 17-Jun-08 Lambell
PRC001 621044 6303758 RC 85 224 -60 215 13-Jun-08 Polinga
PRC002 620945 6303839 RC 37 224 -60 215 14-Jun-08 Polinga
PRC003 620927 6303782 RC 58 224 -60 40 14-Jun-08 Polinga
PRC004 620608 6304051 RC 55 228 -60 40 16-Jun-08 Polinga
PRC005 620993 6303689 RAB 60 213 -60 90 30-Mar-11 Polinga
PRC006 620907 6303760 RAB 55 223 -60 90 29-Mar-11 Polinga
PRC007 620886 6303759 RAB 60 224 -60 90 28-Mar-11 Polinga
PRC008 620937 6303735 RAB 59 218 -60 90 29-Mar-11 Polinga
PRC009 620913 6303735 RAB 40 221 -60 90 29-Mar-11 Polinga
PRC010 620971 6303713 RAB 60 225 -60 90 29-Mar-11 Polinga
PRC011 620946 6303711 RAB 60 216 -60 90 29-Mar-11 Polinga
PRC012 620639 6304099 RAB 60 230 -60 270 27-Mar-11 Polinga
PRC013 620665 6304099 RAB 60 230 -60 270 27-Mar-11 Polinga
PRC014 620687 6304100 RAB 58 228 -60 270 28-Mar-11 Polinga
PRC015 620805 6303948 RAB 60 225 -60 270 27-Mar-11 Polinga
PRC016 620824 6303950 RAB 60 226 -60 270 27-Mar-11 Polinga
PRC017 620849 6303950 RAB 57 229 -60 270 27-Mar-11 Polinga
PRC018 620196 6304803 RC 60 236 -60 270 23-Mar-12 Polinga
PRC019 620176 6304800 RC 66 238 -60 270 24-Mar-12 Polinga
PRC020 620224 6304800 RC 48 249 -60 270 24-Mar-12 Polinga
PRC021 620272 6304803 RC 49 246 -60 270 24-Mar-12 Polinga
PRC022 620323 630482 RC 40 245 -60 270 25-Mar-12 Polinga
PRC023 620928 6303501 AC 60 216 -60 270 25-Mar-12 Polinga
PRC024 620952 6303504 AC 51 221 -60 270 25-Mar-12 Polinga
PRC025 620978 6303505 AC 67 216 -60 270 25-Mar-12 Polinga
PRC026 621001 6303503 AC 70 210 -60 270 26-Mar-12 Polinga
PRC027 621029 6303501 AC 66 214 -60 270 26-Mar-12 Polinga
PRC028 620977 6303301 RAB 32 215 -60 270 31-Mar-12 Polinga
PRC029 621050 6303303 RAB 72 208 -60 270 01-Apr-12 Polinga
PRC030 621025 6303300 RAB 58 215 -60 270 01-Apr-12 Polinga

ABN: 64 123 993 233

==> picture [157 x 29] intentionally omitted <==

Hole_ID Easting Northing Type Depth RL Dip Azimuth Date Drilled Prospect
PRC031 621005 6303300 RAB 81 216 -60 270 01-Apr-12 Polinga
PRC032 620950 6303299 AC 66 216 -60 270 02-Apr-12 Polinga