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ARIKA RESOURCES LIMITED — Capital/Financing Update 2025
Sep 2, 2025
64420_rns_2025-09-02_6928be99-a674-4c6d-b4d9-58d48ea2096d.pdf
Capital/Financing Update
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ASX: ARI
ASX RELEASE: 03 September 2025
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Yundamindra Gold Project, WA – Exploration Update
LANDED AT LAST CONTINUES TO GROW WITH BONANZA GRADES FROM RE-SPLITS AT THE F1 PROSPECT
Plus, strike extensions confirmed in initial drilling at nearby Great Bonaparte East Prospect
KEY HIGHLIGHTS
F1 Prospect, Landed at Last
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Exceptional grades returned from final single metre re-splits of previously reported composite samples. Final significant intercepts now include:
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3m @ 47.1g/t Au from 53m (25AYRC007), including:
- 1m @ 130g/t Au from 53m (junction of F1 and Landed at Last)
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22m @ 1.34g/t Au from 20m (25AYRC017), including :
- 1m @ 8.98g/t Au from 27m
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6m @ 2.02g/t Au from 30m (25AYRC012), including :
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4m @ 2.92g/t Au from 31m, and
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1m @ 9.40g/t Au from 33m
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The results confirm the quality of mineralisation at F1 and highlight the opportunity for bonanza grades to occur at the junction of gold-bearing structures throughout the Yundamindra Project.
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F1 is one of several structures which cross-cut the Landed at Last lode in the Western Corridor at Yundamindra towards the northern end of the ‘Yellow Brick Road’ – a +16km long structural corridor with numerous high-grade historical workings .
Great Bonaparte East (GBE)
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New significant intercepts returned from step-out drilling at GBE, located 600m south of Landed at Last, include:
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26m @ 1.19g/t Au from 88m (25AYRC022), including :
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11m @ 2.44g/t Au from 98m ; and
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1m @ 21.95g/t Au from 103m
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10m @ 0.53g/t Au from 33m (25AYRC019)
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1m @ 2.29g/t Au from 17m (25AYRC018)
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16m @ 0.36g/t Au from 52m (25AYRC020)
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7m @ 0.53g/t Au from 101m (25AYRC023)
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The GBE ore-hosting structure shows increasing thickness and grade at depth and may represent a strike extension of the mineralisation discovered at Landed at Last.
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Drilling continues to test multiple targets at Yundamindra, including Banjo’s Camp, Queen of Poland and Golden Treasure Deeps.
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ABN: 92 086 839 992 www.arika.com.au
Phone: 08 6500 0202 [email protected]
Arika Resources Limited (ASX: ARI) (“Arika” or “Company”) is pleased to provide an update on exploration results and drilling activities at the Yundamindra Gold JV Project , located 65km south-west of Laverton in the world-class Northeastern Goldfields mining district of WA
Arika launched a ~10,000m drilling campaign in June following the Company’s successful ~$5 million capital raise in May 2025. The aim of this program is to test and define the depth and strike extents of the multiple known gold occurrences and newly defined targets throughout the project area.
Drilling initially re-commenced within the Western Corridor at the F1 Prospect , comprising 17 Reverse Circulation (RC) holes for 1,856m of drilling (25AYRC001-25AYRC017). Step-out exploration drilling was then undertaken at Great Bonaparte East, located 600m south of F1, comprising seven RC holes for 680m of drilling (25AYRC018-25AYRC024).
Preliminary assays for the F1 drilling were reported in early August[1] and included numerous intervals sampled as 4 metre composites while the results from several holes remained pending at that time.
All of the 4 metre composite samples were re-split into single 1 metre samples and re-submitted for analysis. This release provides a full summary of the final assays for all samples relevant to the F1 program (25AYRC001-25AYRC017) and for seven holes drilled to test strike and depth extensions at Great Bonaparte East (25AYRC018-25AYRC024).
The F1and Great Bonaparte East Prospects are both located towards the northern end of the ‘Yellow Brick Road’ – a strongly mineralised structural corridor which extends for more than 16km along the western flank of the Yundamindra Syncline.
F1 is the first to be drill tested of a series of structures identified from aeromagnetic geophysical data that cross-cut the Landed at Last lode. Preparations for systematic first pass drill testing of structures F2, F3 and F4 are currently underway.
Great Bonaparte East (GBE) is defined by a cluster of old underground workings centred on the interpreted southern strike extension of the Landed at Last host structure. The drilling described in this release at GBE focussed on testing for depth and strike extensions in the immediate vicinity of the old workings. The company has also commenced wide spaced drill testing of the area between Landed at Last and Great Bonaparte East. This part of the structural trend has never been previously drilled and represents a high priority target area for Arika.
The Western Corridor is defined by two major NW-SE trending structures, with numerous NE- SW linking faults. Both the NW-SE and NE- SW fault orientations carry significant gold mineralisation and can be traced continuously under areas of cover for hundreds of metres. However, previous work has only focused on shallow oxide ore around the known historical workings with limited to no drilling having ever been undertaken to test for depth or strike extensions.
Arika’s current campaign is designed to test for depth and strike extensions beyond the known limits of the previously reported intersections and to provide a first pass test of a number of new high priority targets defined by a combination of geological/geophysical/geochemical characteristics.
Arika’s Managing Director, Justin Barton, said:
“The Landed at Last-F1 gold system already has considerable scale and is getting bigger. Our drilling continues to identify multiple gold lodes with significant widths and impressive high-grade zones, as evidenced by these latest results from the 1m re-splits at F1.
“The mineralisation at Landed at Last is continuous over at least 800m of strike and 200m down-dip and remains open. F1 is the first of several cross-cutting structures that we have tested and these impressive results demonstrate the quality of the mineralisation and significant endowment of the system there.
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“Meanwhile, Great Bonaparte East is one of multiple historical workings which sit on the same structure that hosts Landed at Last, or parallel structures to it, and which have never been tested at depth or along strike. Drilling is continuing at pace to test new targets and to extend and expand beyond previous results.
“We look forward to providing further updates as this exciting phase of our exploration continues.”
A summary of drill-hole collar locations and final results for all holes are presented in Appendix 1, Tables 1 and 2.
Figures 1 to 6 present Prospect Location Plans, Drill-hole Collar Plans, Vertical Longitudinal Projections and schematic Cross-Sections (X-S).
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Figure 1 : Yundamindra Gold Project showing key prospect locations. The F1 Prospect is located within the Landed at Last area towards the northern end of the ‘Yellow Brick Road’ – Western Corridor.
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Figure 2: Zoom in of the northern section of ‘The Yellow Brick Road’, Western Corridor. Prospect Location plan showing recent drilling and proposed holes over simplified geology and TMI.
Drilling Results Summary – F1
A detailed summary of the geology and mineralisation of the F1 Prospect was presented in Arika’s ASX Announcements dated 08 April and 11 August 2025. Figure 3-4 and Table 1 present a drillhole location plan, Vertical Longitudinal Projection and Summary of Significant Intersections now updated with final assay results.
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Figure 3: F1 with recent drill collars, significant intercept summaries and proposed holes over TMI. Note: Details of all holes completed to date are presented in Table 1.
Note: All intersections represent down-hole lengths. The holes were designed to test the targeted primary structures orthogonal to strike and based on current interpretation true widths are estimated to be approximately 60% of the down-hole intercepts for most of the holes noting local variations in dip and strike.
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5
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ASX: ARI
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Figure 4 : Schematic Vertical Longitudinal Projection (F1-Fault local grid) with recent assay results and historical drilling.
Note the lack of drilling beneath 50m vertical depth
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ABN: 92 086 839 992 www.arika.com.au
Phone: 08 6500 0202 [email protected]
ASX: ARI
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Drilling Results – Great Bonaparte East (GBE)
Seven holes were drilled at Great Bonaparte East along six sections spaced 40m apart and were designed to test for extensions to the known mineralisation at least 40-80m beyond the historical intercepts over a strike length of about 180m.
Most holes completed to date have reported wide zones of moderate gold mineralisation with narrow higher grade internal zones and/or gold anomalism within the targeted intervals.
As has been observed elsewhere along the Western Corridor, gold mineralisation is typically hosted within strongly hematite and potassic altered quartz monzodiorite, commonly associated with thin quartz veins and magnetite destruction.
The country rock at GBE is completely to highly weathered medium to coarse grained equigranular biotite rich granitoid. Variations in the country rock occur through deformation and alteration within and proximal to shear zones.
Drilling to date at GBE has confirmed the presence of a single gold-bearing shear zone displaying a moderately arcuate shape in plan view dipping gently at about 45 degrees towards the Northeast. Arika’s latest drilling at GBE has now confirmed the presence of gold mineralisation continuously over a strike length of at least 180m and to at least 120m down-dip below surface.
The zone of mineralisation remains open along strike and at depth.
Figures 5, 6 and 7 present a Drillhole Location Plan, Schematic Vertical Longitudinal projection and Schematic Cross-Section respectively.
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ABN: 92 086 839 992 www.arika.com.au
Phone: 08 6500 0202 [email protected]
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Figure 5: Great Bonaparte East with recent drill collars, significant intercept summaries and proposed holes over TMI.
Note: Details of all holes completed to date are presented in Table 1.
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ASX: ARI
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Figure 6: Schematic Vertical Longitudinal Projection (GBE local grid) with recent assay results and historical drilling.
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ABN: 92 086 839 992 www.arika.com.au
Phone: 08 6500 0202 [email protected]
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Figure 7: Schematic Cross-Section Line 1000mN (F1 local grid) with recent assay results.
Note width and grade of the mineralised structure improving at depth at this location.
Next Steps
Yundamindra
RC drill testing of new targets across the Yundamindra Project area is continuing.
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10
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Wide-spaced sectional drilling is currently in progress at Banjo’s Camp/Queen of Poland/Golden Treasure Deeps.
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Results will be released continuously once data is received and interpreted.
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Data collected from a drone-supported aeromagnetic survey recently completed over the southern half of the Yundamindra Project area, along with results from ultra-detailed aeromagnetic and ground gravity surveys undertaken at Pennyweight Point, are currently being assessed by the Company’s geophysical consultants, Core Geophysics.
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The results from this work will be used to further refine target selection prior to drilling.
Kookynie
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Data from a drone-supported aeromagnetic survey completed at the Ithaca Prospect adjacent to Genesis Minerals’ Ulysses Gold Project is currently being assessed by Core Geophysics.
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DHEM surveys of purpose drilled RC holes at McTavish is in progress to assess the electrical signature of iron sulphides associated with gold mineralisation. Possible direct ore finding technique in areas of surficial cover if electrical continuity is confirmed.
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The results from this work will be used to further refine and prioritise targets for planned drill testing in the coming weeks.
Yundamindra Gold Project
The Yundamindra Gold JV Project is located 65km south-west of Laverton, 250km north of Kalgoorlie, Western Australia (Figure5). The Project is a Joint Venture between Arika Resources Ltd (ASX: ARI) and Nex Metals (ASX: NME), where Arika holds 80% and NME holds 20% with Arika acting as Project manager.
Regionally, it is situated toward the westernmost margin of the Laverton Greenstone Belt (LGB) in the Yilgarn Craton of Western Australia.
The Laverton Greenstone Belt is one of the best endowed gold regions in Australia. It hosts two world-class producing mines, namely Sunrise Dam at 8 million oz contained Gold and Wallaby at 7 million oz contained gold (Standing 2008; Austin, 2022)[1] , which are located just ~20-30km east of Arika’s Yundamindra Gold Project. Total gold production from the belt is estimated to be in excess of 28 million ounces.
The Laverton Greenstone Belt is one of a number of greenstone belts that collectively define the Kurnalpi tectonostratigraphic terrane of the Northeastern Goldfields ‘Superterrane’.
The Kurnalpi Terrane is bounded by the regionally recognisable Hootanui Shear Zone to the east and the Ockerburry Shear Zone to the west – long-lived, deep crustal/mantle penetrating structures which, along with their related second order faults, are considered responsible for the development of many of the region’s most significant gold deposits.
At the local scale, the Yundamindra Project covers both the south-western and south-eastern flanks and the southern nose of a regional scale synformal fold comprising a central hornblende-granodiorite batholith which intruded mafic-felsic and lesser sedimentary lithologies (Figure 1 and 2).
This style of structural setting is commonly associated with the development of many of the region’s most significant gold deposits. Although the area has had a long history of prospect-scale mining, it has not been
Refer ARI ASX Announcement dated 11 August 2025
2 Refer ARI ASX Announcement dated 8 April 2025
on: Evidence from tectonostratigraphic studies of the Laverton Greenstone Belt. Precambrian Research, V161, Issues 1-2, 15 February 2008, pages 114134.. Austin, Joseph Martin, Testing the ‘terrane-boundary’ concept and geodynamics in the NeoArchean: A cse study of the stratigraphy from the West and East Laverton Greenstone Belts. Queensland University of Technology 2022.
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11
subjected to systematic modern exploration and remains under-explored, particularly at depth.
This presents ARI with a unique opportunity to discover significant mineralisation near a number of processing facilities.
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Figure 8: Regional Location Plan showing proximity of Yundamindra to Major Deposits, Mines and Processing Facilities.
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Contributors
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Omni GeoX
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Core Geophysics
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Newexco
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Sugden Geoscience Pty Ltd
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ERM Technical Mining Services
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DigiMaps
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Perenti Group
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Karlkurla Pty Ltd
This announcement is approved by the Board of Arika Resources Limited.
ENQUIRIES
| Investors | Media |
|---|---|
| Justin Barton | Nicholas Read |
| Managing Director | Read Corporate |
| +61 8 6500 0202 | +61 8 9388 1474 |
| [email protected] | [email protected] |
Competent Person Statement
The information that relates to Exploration Results is based upon information compiled by Mr Steve Vallance, who is a full-time employee of Arika Resources Ltd in the role of General Manager Exploration and Executive Technical Director. Mr Vallance is a Member of The Australian Institute of Geoscientists (AIG). Mr Vallance has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity which he is undertaking 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” (the JORC Code 2012). Mr Vallance consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Forward-Looking Statements
This announcement may contain certain “forward-looking statements” which may not have been based solely on historical facts but rather may be based on the Company’s current expectations about future events and results. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have reasonable basis. However, forward-looking statements:
(a) are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies.
(b) involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward-looking statements. Such risks include, without limitation, resource risk, metals price volatility, currency fluctuations, increased production costs and variances in ore grade or recovery rates from those assumed in mining plans, as well as political and operational risks in the countries and states in which the Company operates or supplies or sells product to, and governmental regulation and judicial outcomes; and
(c) may include, among other things, statements regarding estimates and assumptions in respect of prices, costs, results and capital expenditure, and are or may be based on assumptions and estimates related to future technical, economic, market, political, social and other conditions.
The words “believe”, “expect”, “anticipate”, “indicate”, “contemplate”, “target”, “plan”, “intends”, “continue”,
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“budget”, “estimate”, “may”, “will”, “schedule” and similar expressions identify forward-looking statements. All forward-looking statements contained in this presentation are qualified by the foregoing cautionary statements. Recipients are cautioned that forward-looking statements are not guarantees of future performance and accordingly recipients are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.
The Company disclaims any intent or obligation to publicly update any forward-looking statements, whether as a result of new information, future events or results or otherwise.
No New Information
To the extent that this announcement contains references to prior exploration results which have been cross referenced to previous market announcements made by the Company, unless explicitly stated, no new information is contained. The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcements and, in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed.
About Arika Resources Limited
We are focused on delivering value to shareholders through the development and discovery of high-quality gold assets, including the Kookynie and Yundamindra Gold Projects, in Western Australia.
Arika Resources Limited is continuing to build on the potential large-scale gold footprints at the Yundamindra and Kookynie Gold Projects by expanding on known mineralisation and targeting new discoveries through a pipeline of high priority brownfield and greenfield targets.
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Appendix One – Significant Intercepts and Collars
Significant intercepts in the table below were calculated on a length weighted average basis.
Each RC hole drilled by Arika was sampled in its entirety from start to finish using a combination of 2m or 4m composites and1m individual samples. For diamond drillholes the diamond cored section of each hole was sampled in its entirety from the start of each cored section to end of hole with sampling guided by geological observations and maximum sample lengths generally not exceeding 1m.
For the low-grade envelope this was based on a 1m sample returning an assay value of greater than 0.1 g/t Au and for the high-grade zone, based on internal intervals reporting assays greater than 0.5 g/t Au, 5.0g/t Au and 10.0 g/t Au respectively. The maximum width of internal waste was generally 4m however the mineralised intervals are based on geological observations and current interpretation. Consequently, in some instances a broader interval of internal waste, interpreted as a ‘horse’ of limited dip and strike extent may be carried in order to honour the true nature of the ore hosting structure as defined by adjacent drillholes at that location.
No top cut-off was applied due to the early nature of the assessment.
TABLE 1: YUNDAMINDRA EXPLORATION DRILLING RESULTS - F1 FAULT (LANDED AT LAST)
| >0.1g/t Au | >0.1g/t Au | Comments | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Collar Location and Orientation | Intersection | |||||||||||||
| Hole_ID | Type | Section | MGA_E | MGA_N | RL | Dip | Azimuth (Mag) |
Depth | From | To | Length | Grade | ||
| (Local) | (m) | (m) | (m) | (m) | (g/t) | (gram x metres) |
||||||||
| 25AYRC001 | RC | 1000N | 403887 | 6780509 | 457.6 | -60 | 295 | 100 | 0 | 1 | 1 | 0.14 | 0.1 | |
| 25AYRC017 | RC | 1000N | 403910 | 6780490 | 458 | -60 | 295 | 112 | 16 | 44 | 28 | 1.16 | 32.5 | all 4m Composites |
| incl | 20 | 40 | 20 | 1.56 | 31.2 | |||||||||
| LW89 | RC | 1040N | 403880 | 6780551 | -60 | 116 | 34 | 0 | 33 | 33 | 0.47 | 15.5 | ||
| incl | 4 | 15 | 11 | 0.79 | 8.7 | |||||||||
| 25AYRC002 | RC | 1040N | 403908 | 6780543 | 457.6 | -60 | 300 | 94 | 5 | 6 | 1 | 0.15 | 0.2 | |
| 17 | 20 | 3 | 0.13 | 0.4 | ||||||||||
| 76 | 77 | 1 | 0.12 | 0.1 | ||||||||||
| 25AYRC016 | RC | 1040N | 403927 | 6780530 | 457.583 | -60 | 295 | 112 | 20 | 56 | 36 | 0.46 | 16.7 | all 4m Composites |
| incl | 44 | 52 | 8 | 1.01 | 8.1 | |||||||||
| 0.0 | ||||||||||||||
| YMRC027 | RC | 1080N | 403889 | 6780590 | 454 | -60 | 116 | 60 | 44 | 52 | 8 | 0.21 | 1.7 | |
| 25AYRC005 | RC | 1080N | 403900 | 6780591 | 457.9 | -60 | 295 | 82 | NSI | |||||
| 25AYRC006 | RC | 1080N | 403919 | 6780573 | 457 | -60 | 295 | 70 | 42 | 48 | 6 | 0.67 | 4.0 | |
| incl | 44 | 46 | 2 | 1.30 | 2.6 | Qz veining |
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| >0.1g/t Au | >0.1g/t Au | Comments | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Collar Location and Orientation | Intersection | |||||||||||||
| Hole_ID | Type | Section | MGA_E | MGA_N | RL | Dip | Azimuth (Mag) |
Depth | From | To | Length | Grade | ||
| (Local) | (m) | (m) | (m) | (m) | (g/t) | (gram x metres) |
||||||||
| and | 47 | 48 | 1 | 1.03 | 1.0 | Qz veining | ||||||||
| 25AYRC015 | RC | 1080N | 403945 | 6780564 | 457 | -60 | 295 | 112 | 24 | 40 | 16 | 0.12 | 1.9 | 2 x 4m Composites |
| 52 | 56 | 4 | 0.12 | 0.5 | 4m Composite | |||||||||
| 77 | 78 | 1 | 0.12 | 0.1 | ||||||||||
| LW41 | RC | 1090N | 403894 | 6780601 | 453 | -60 | 116 | 40 | 9 | 16 | 7 | 2.55 | 17.9 | |
| incl | 10 | 14 | 4 | 4.22 | 16.9 | |||||||||
| and | 10 | 12 | 2 | 7.54 | 15.1 | |||||||||
| LW96A | RC | 1090N | 403898 | 6780598 | 453 | -60 | 116 | 40 | 27 | 36 | 9 | 2.17 | 19.5 | |
| incl | 28 | 32 | 4 | 4.49 | 18.0 | |||||||||
| and | 29 | 31 | 2 | 6.84 | 13.7 | |||||||||
| YMRC030 | RC | 1090N | 403946 | 6780606 | 453 | -60 | 239 | 96 | 73 | 87 | 14 | 2.43 | 34.0 | |
| incl | 80 | 85 | 5 | 6.40 | 32.0 | |||||||||
| and | 82 | 85 | 3 | 9.74 | 29.2 | |||||||||
| YMRC028 | RC | 1100N | 403896 | 6780609 | 454 | -60 | 239 | 66 | NSR | INEFFECTIVE - incorrect azimuth | ||||
| YMRC045 | RC | 1100N | 403897 | 6780609 | 454 | -60 | 116 | 66 | 33 | 42 | 9 | 0.47 | 4.2 | |
| incl | 38 | 41 | 3 | 1.08 | 3.2 | |||||||||
| 47 | 56 | 9 | 0.66 | 5.9 | ||||||||||
| incl | 48 | 53 | 5 | 1.10 | 5.5 | |||||||||
| LW34 | RC | 1110N | 403911 | 6780614 | 454 | -60 | 116 | 34 | 9 | 21 | 12 | 8.40 | 100.8 | |
| incl | 10 | 20 | 10 | 9.90 | 99.0 | |||||||||
| and | 13 | 18 | 5 | 16.85 | 84.3 | |||||||||
| YMRC025 | RC | 1110N | 403910 | 6780615 | 454 | -60 | 116 | 54 | 20 | 35 | 15 | 0.27 | 4.1 |
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| >0.1g/t Au | >0.1g/t Au | Comments | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Collar Location and Orientation | Intersection | |||||||||||||
| Hole_ID | Type | Section | MGA_E | MGA_N | RL | Dip | Azimuth (Mag) |
Depth | From | To | Length | Grade | ||
| (Local) | (m) | (m) | (m) | (m) | (g/t) | (gram x metres) |
||||||||
| incl | 28 | 29 | 1 | 0.52 | 0.5 | |||||||||
| YMRC026 | RC | 1110N | 403899 | 6780617 | 454 | -85 | 116 | 66 | 26 | 27 | 1 | 0.40 | 0.4 | INEFFECTIVE - vertical |
| YMRC029 | RC | 1110N | 403944 | 6780594 | 454 | -60 | 116 | 84 | NSR | INEFFECTIVE - incorrect azimuth | ||||
| YMRC046 | RC | 1110N | 403910 | 6780620 | 454 | -60 | 116 | 60 | 22 | 48 | 26 | 1.46 | 38.0 | |
| incl | 23 | 32 | 9 | 3.61 | 32.5 | |||||||||
| and | 24 | 26 | 2 | 9.40 | 18.8 | |||||||||
| YMRC048 | RC | 1110N | 403943 | 6780591 | 452 | -60 | 297 | 78 | 30 | 55 | 25 | 1.86 | 46.5 | |
| incl | 45 | 52 | 7 | 6.19 | 43.3 | |||||||||
| and | 48 | 52 | 4 | 8.93 | 35.7 | |||||||||
| YMRC024 | RC | 1120N | 403913 | 6780622 | 454 | -60 | 116 | 120 | 8 | 56 | 48 | 0.32 | 15.4 | |
| incl | 24 | 28 | 4 | 0.82 | 3.3 | |||||||||
| and | 40 | 44 | 4 | 0.56 | 2.2 | |||||||||
| YMRC047 | RC | 1120N | 403913 | 6780625 | 454 | -60 | 116 | 60 | 37 | 47 | 10 | 1.28 | 12.8 | |
| incl | 40 | 46 | 6 | 2.03 | 12.2 | |||||||||
| and | 44 | 45 | 1 | 9.15 | 9.2 | |||||||||
| YMRC049 | RC | 1120N | 403942 | 6780606 | 454 | -60 | 297 | 84 | 30 | 55 | 25 | 1.07 | 26.8 | |
| incl | 36 | 42 | 6 | 3.53 | 21.2 | |||||||||
| and | 37 | 38 | 1 | 9.70 | 9.7 | |||||||||
| LW97A | RC | 1120N | 403952 | 6780605 | 454 | -60 | 297 | 90 | 63 | 85 | 22 | 0.87 | 19.1 | |
| incl | 64 | 75 | 11 | 1.56 | 17.2 | |||||||||
| and | 71 | 72 | 1 | 5.48 | 5.5 | |||||||||
| 25YMD003 | DDH | 1120N | 403974 | 6780594 | 454 | -60 | 300 | 201.80 | 87 | 101.8 | 14.80 | 3.10 | 45.9 | |
| incl | 90 | 92.15 | 2.15 | 5.49 | 11.8 | |||||||||
| and | 99 | 101.25 | 2.25 | 9.76 | 22.0 | |||||||||
| LW33 | RC | 1130N | 403912 | 6780636 | 454 | -60 | 116 | 50 | 32 | 50 | 18 | 4.56 | 82.1 | END OF HOLE |
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| >0.1g/t Au | >0.1g/t Au | Comments | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Collar Location and Orientation | Intersection | |||||||||||||
| Hole_ID | Type | Section | MGA_E | MGA_N | RL | Dip | Azimuth (Mag) |
Depth | From | To | Length | Grade | ||
| (Local) | (m) | (m) | (m) | (m) | (g/t) | (gram x metres) |
||||||||
| incl | 35 | 46 | 11 | 7.14 | 78.5 | |||||||||
| and | 39 | 43 | 4 | 16.35 | 65.4 | |||||||||
| LW87 | RC | 1130N | 403956 | 6780614 | 454 | -60 | 300 | 80 | 47 | 80 | 33 | 1.55 | 51.2 | |
| incl | 62 | 75 | 13 | 3.23 | 42.0 | |||||||||
| and | 64 | 65 | 1 | 8.12 | 8.1 | |||||||||
| 68 | 69 | 1 | 5.74 | 5.7 | ||||||||||
| LW90 | RC | 1140N | 403916 | 6780645 | 454 | -60 | 116 | 55 | 32 | 39 | 7 | 1.72 | 12.0 | |
| incl | 33 | 39 | 6 | 1.97 | 11.8 | |||||||||
| and | 34 | 35 | 1 | 5.67 | 5.7 | |||||||||
| LW29 | RC | 1150N | 403921 | 6780654 | 454 | -60 | 116 | 52 | 19 | 52 | 33 | 1.22 | 40.3 | END OF HOLE |
| incl | 36 | 52 | 16 | 2.20 | 35.2 | |||||||||
| and | 45 | 46 | 1 | 6.15 | 6.2 | |||||||||
| YMRC023 | RC | 1160N | 403921 | 6780661 | 453 | -60 | 116 | 66 | 42 | 60 | 18 | 2.01 | 36.2 | |
| incl | 43 | 55 | 12 | 2.93 | 35.2 | |||||||||
| and | 43 | 45 | 2 | 7.22 | 14.4 | |||||||||
| YMRC021 | RC | 1170N | 403917 | 6780676 | 453 | -60 | 297 | 90 | NSR | INNEFFECTIVE - incorrect azimuth |
||||
| YMRC022 | RC | 1170N | 403927 | 6780671 | 453 | -60 | 297 | 66 | 24 | 36 | 12 | 0.35 | 4.2 | INNEFFECTIVE - incorrect azimuth |
| incl | 25 | 30 | 5 | 0.66 | 3.3 | |||||||||
| YMRC050 | RC | 1170N | 403928 | 6780672 | 450 | -60 | 116 | 66 | 26 | 56 | 30 | 2.26 | 67.8 | |
| incl | 38 | 49 | 11 | 5.24 | 57.6 | |||||||||
| and | 40 | 44 | 4 | 11.72 | 46.9 |
==> picture [500 x 30] intentionally omitted <==
18
| >0.1g/t Au | >0.1g/t Au | Comments | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Collar Location and Orientation | Intersection | |||||||||||||
| Hole_ID | Type | Section | MGA_E | MGA_N | RL | Dip | Azimuth (Mag) |
Depth | From | To | Length | Grade | ||
| (Local) | (m) | (m) | (m) | (m) | (g/t) | (gram x metres) |
||||||||
| YMRC051 | RC | 1170N | 403918 | 6780676 | 452 | -60 | 116 | 90 | 60 | 68 | 8 | 0.95 | 7.6 | |
| incl | 61 | 63 | 2 | 3.31 | 6.6 | |||||||||
| LW9 | RC | 1180N | 403939 | 6780679 | 453 | -60 | 116 | 46 | 21 | 46 | 25 | 1.12 | 28.0 | |
| incl | 27 | 44 | 17 | 1.48 | 25.2 | |||||||||
| and | 37 | 38 | 1 | 6.25 | 6.3 | |||||||||
| LW48 | RC | 1190N | 403934 | 6780692 | 453 | -60 | 116 | 61 | 24 | 46 | 22 | 0.24 | 5.3 | |
| 51 | 59 | 8 | 2.68 | 21.4 | ||||||||||
| incl | 52 | 58 | 6 | 4.18 | 25.1 | |||||||||
| and | 55 | 56 | 1 | 6.17 | 6.2 | |||||||||
| LW53 | RC | 1200N | 403939 | 6780701 | 453 | -60 | 116 | 61 | 51 | 59 | 8 | 0.47 | 3.8 | |
| incl | 56 | 58 | 2 | 1.26 | 2.5 | |||||||||
| 25AYRC014 | RC | 1200N | 404007 | 6780665 | 455.788 | -60 | 295 | 118 | 24 | 28 | 4 | 0.23 | 0.9 | 4m Composite |
| 20 | 28 | 8 | 0.16 | 1.3 | 4m Composite | |||||||||
| 52 | 56 | 4 | 0.12 | 0.5 | 4m Composite | |||||||||
| 69 | 70 | 1 | 0.26 | 0.3 | ||||||||||
| 73 | 74 | 1 | 0.15 | 0.2 | ||||||||||
| 79 | 82 | 3 | 0.12 | 0.4 | ||||||||||
| 88 | 89 | 1 | 0.12 | 0.1 | ||||||||||
| 115 | 118 | 3 | 0.20 | 0.6 | END OF HOLE | |||||||||
| LW31 | RC | 1230N | 403957 | 6780726 | 452 | -60 | 116 | 45 | 24 | 28 | 4 | 0.59 | 2.4 | |
| incl | 24 | 26 | 2 | 0.96 | 1.9 | |||||||||
| 0 | ||||||||||||||
| YMRC031 | RC | 1240N | 404025 | 6780697 | 451 | -60 | 116 | 78 | 63 | 71 | 8 | 0.55 | 4.4 |
==> picture [500 x 30] intentionally omitted <==
19
| >0.1g/t Au | >0.1g/t Au | Comments | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Collar Location and Orientation | Intersection | |||||||||||||
| Hole_ID | Type | Section | MGA_E | MGA_N | RL | Dip | Azimuth (Mag) |
Depth | From | To | Length | Grade | ||
| (Local) | (m) | (m) | (m) | (m) | (g/t) | (gram x metres) |
||||||||
| incl | 64 | 66 | 2 | 1.44 | 2.9 | |||||||||
| YMRC019 | RC | 1250N | 403948 | 6780753 | 452 | -60 | 116 | 84 | 79 | 84 | 5 | 1.55 | 7.8 | END OF HOLE |
| 25AYRC013 | RC | 1250N | 404030 | 6780711 | 455 | -60 | 295 | 202 | 20 | 24 | 4 | 0.18 | 0.7 | 4m Composite |
| 32 | 40 | 8 | 0.82 | 6.5 | 2 x 4m Composites | |||||||||
| 44 | 48 | 4 | 0.16 | 0.6 | 4m Composite | |||||||||
| 32 | 48 | 16 | 0.46 | 7.4 | ||||||||||
| 74 | 80 | 6 | 0.22 | 1.3 | ||||||||||
| 84 | 91 | 7 | 0.50 | 3.5 | ||||||||||
| 74 | 75 | 1 | 0.15 | 0.2 | ||||||||||
| 77 | 80 | 3 | 0.37 | 1.1 | ||||||||||
| 84 | 85 | 1 | 0.15 | 0.2 | ||||||||||
| 87 | 90 | 3 | 1.05 | 3.1 | ||||||||||
| 130 | 193 | 63 | 0.31 | 19.5 | ||||||||||
| 130 | 141 | 11 | 0.98 | 10.8 | single metres. 5% qz veining 133- 141m |
|||||||||
| 144 | 146 | 2 | 0.20 | 0.4 | ||||||||||
| 151 | 154 | 3 | 0.57 | 1.7 | ||||||||||
| 161 | 162 | 1 | 0.19 | 0.2 | ||||||||||
| 167 | 176 | 9 | 0.47 | 4.2 | single metres. | |||||||||
| 179 | 180 | 1 | 0.11 | 0.1 | ||||||||||
| 185 | 186 | 1 | 0.27 | 0.3 | ||||||||||
| 188 | 193 | 5 | 0.15 | 0.7 | ||||||||||
| LW103 | RC | 1260 | 403988 | 6780742 | 452 | -60 | 300 | 55 | 22 | 39 | 17 | 0.74 | 12.6 | |
| incl | 33 | 36 | 3 | 0.74 | 2.2 | |||||||||
| and | 24 | 25 | 1 | 7.21 | 7.2 |
==> picture [500 x 30] intentionally omitted <==
20
| >0.1g/t Au | >0.1g/t Au | Comments | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Collar Location and Orientation | Intersection | |||||||||||||
| Hole_ID | Type | Section | MGA_E | MGA_N | RL | Dip | Azimuth (Mag) |
Depth | From | To | Length | Grade | ||
| (Local) | (m) | (m) | (m) | (m) | (g/t) | (gram x metres) |
||||||||
| LW76 | RC | 1270N | 403971 | 6780763 | 452 | -60 | 300 | 45 | 20 | 32 | 12 | 0.78 | 9.4 | |
| incl | 27 | 31 | 4 | 1.72 | 6.9 | |||||||||
| 38 | 45 | 7 | 0.37 | 2.6 | ||||||||||
| incl | 40 | 41 | 1 | 0.62 | 0.6 | |||||||||
| YMRC020 | RC | 1280N | 403983 | 6780772 | 451 | -60 | 116 | 84 | 49 | 62 | 13 | 0.43 | 5.6 | |
| incl | 53 | 54 | 1 | 0.78 | 0.8 | |||||||||
| and | 60 | 62 | 2 | 2.00 | 4.0 | |||||||||
| LW94B | RC | 1290N | 403990 | 6780777 | 451 | -60 | 300 | 55 | 21 | 31 | 10 | 0.87 | 8.7 | |
| incl | 27 | 28 | 1 | 5.90 | 5.9 | |||||||||
| LW96B | RC | 1300N | 404001 | 6780779 | 451 | -60 | 300 | 50 | 28 | 41 | 13 | 0.30 | 3.9 | |
| incl | 32 | 33 | 1 | 2.01 | 2.0 | |||||||||
| and | 40 | 41 | 1 | 1.02 | 1.0 | |||||||||
| 0 | ||||||||||||||
| LW107 | RC | 1310N | 404007 | 6780791 | 451 | -60 | 300 | 60 | 24 | 50 | 26 | 0.69 | 17.9 | |
| incl | 31 | 33 | 2 | 2.18 | 4.4 | |||||||||
| and | 40 | 45 | 5 | 2.24 | 11.2 | |||||||||
| 41 | 42 | 1 | 5.84 | 5.8 | ||||||||||
| 25AYRC003 | RC | 1320N | 404014 | 6780792 | 454.5 | -60 | 295 | 70 | 20 | 24 | 4 | 1.08 | 4.3 | 4m Composite |
| 34 | 61 | 27 | 0.53 | 14.3 | ||||||||||
| 24 | 25 | 1 | 0.13 | 0.1 | ||||||||||
| 28 | 30 | 2 | 0.25 | 0.5 | ||||||||||
| 34 | 38 | 4 | 0.41 | 1.6 | ||||||||||
| 43 | 56 | 13 | 0.92 | 12.0 | ||||||||||
| 58 | 61 | 3 | 0.14 | 0.4 |
==> picture [500 x 30] intentionally omitted <==
21
| >0.1g/t Au | >0.1g/t Au | Comments | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Collar Location and Orientation | Intersection | |||||||||||||
| Hole_ID | Type | Section | MGA_E | MGA_N | RL | Dip | Azimuth (Mag) |
Depth | From | To | Length | Grade | ||
| (Local) | (m) | (m) | (m) | (m) | (g/t) | (gram x metres) |
||||||||
| 25AYRC004 | RC | 1320N | 404028 | 6780787 | 454.5 | -60 | 295 | 100 | 24 | 28 | 4 | 1.04 | 4.2 | 4m Composite |
| 24 | 32 | 8 | 0.60 | 4.8 | ||||||||||
| 28 | 32 | 4 | 0.16 | 0.7 | 4m Composite | |||||||||
| 52 | 56 | 4 | 0.17 | 0.7 | 4m Composite | |||||||||
| 61 | 88 | 27 | 2.45 | 66.2 | all single metres | |||||||||
| 64 | 72 | 8 | 6.80 | 54.4 | ||||||||||
| 63 | 77 | 14 | 4.30 | 60.2 | ||||||||||
| incl | 63 | 72 | 9 | 6.18 | 55.6 | |||||||||
| 96 | 100 | 4 | 0.10 | 0.4 | END OF HOLE 4m Composite | |||||||||
| 25AYRC012 | RC | 1320N | 404050 | 6780778 | 454.5 | -60 | 295 | 148 | 28 | 36 | 8 | 1.44 | 11.5 | 4m Composite. 85% qz veining 33-34m |
| 32 | 36 | 4 | 2.75 | 11.0 | ||||||||||
| 88 | 96 | 8 | 0.47 | 3.8 | ||||||||||
| 88 | 130 | 42 | 0.34 | 14.3 | ||||||||||
| incl | 104 | 115 | 11 | 0.66 | 7.3 | |||||||||
| 103 | 106 | 2 | 0.51 | 1.0 | ||||||||||
| 108 | 117 | 9 | 0.72 | 6.4 | ||||||||||
| 118 | 119 | 1 | 0.24 | 0.2 | ||||||||||
| 122 | 123 | 1 | 1.07 | 1.1 | ||||||||||
| 125 | 126 | 1 | 0.21 | 0.2 | ||||||||||
| 129 | 130 | 1 | 0.13 | 0.1 | 75%qz veining | |||||||||
| 0.0 | ||||||||||||||
| LW98 | RC | 1330N | 404016 | 6780808 | 451 | -60 | 300 | 52 | 26 | 37 | 11 | 1.33 | 14.6 | |
| incl | 28 | 32 | 4 | 3.33 | 13.3 | |||||||||
| and | 30 | 31 | 1 | 10.50 | 10.5 | |||||||||
| LW100 | RC | 1350N | 404025 | 6780826 | 451 | -60 | 300 | 48 | 30 | 48 | 18 | 0.36 | 6.5 |
==> picture [500 x 30] intentionally omitted <==
22
| >0.1g/t Au | >0.1g/t Au | Comments | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Collar Location and Orientation | Intersection | |||||||||||||
| Hole_ID | Type | Section | MGA_E | MGA_N | RL | Dip | Azimuth (Mag) |
Depth | From | To | Length | Grade | ||
| (Local) | (m) | (m) | (m) | (m) | (g/t) | (gram x metres) |
||||||||
| incl | 43 | 45 | 2 | 1.88 | 3.8 | |||||||||
| 25AYRC007 | RC | 1360N | 404041 | 6780827 | 455.3 | -60 | 295 | 94 | 52 | 57 | 5 | 33.30 | 166.5 | |
| incl | 52 | 56 | 4 | 41.56 | 166.2 | 4m Composite; qz veining53-54m | ||||||||
| 57 | 61 | 4 | ASSAYS PENDING | |||||||||||
| 64 | 80 | 16 | 0.33 | 5.3 | ||||||||||
| incl | 64 | 72 | 8 | 0.50 | 4.0 | single metres | ||||||||
| 74 | 80 | 6 | 0.21 | 1.3 | ||||||||||
| 0.0 | ||||||||||||||
| 25AYRC008 | RC | 1360N | 404056 | 6780822 | 455.3 | -60 | 295 | 112 | 60 | 64 | 4 | 0.35 | 1.4 | 4m Composite |
| 72 | 80 | 8 | 0.18 | 1.4 | ||||||||||
| 72 | 76 | 4 | 0.18 | 0.7 | single metres | |||||||||
| 78 | 80 | 2 | 0.34 | 0.7 | ||||||||||
| 89 | 90 | 1 | 0.15 | 0.2 | ||||||||||
| 93 | 94 | 1 | 0.15 | 0.2 | ||||||||||
| 96 | 97 | 1 | 0.12 | 0.1 | ||||||||||
| 99 | 100 | 1 | 0.12 | 0.1 | ||||||||||
| 0.0 | ||||||||||||||
| LW11 | RC | 1370N | 403946 | 6780648 | 451 | -60 | 300 | 25 | 17 | 25 | 8 | 0.14 | 1.1 | |
| 25AYRC011 | RC | 1600N | 404155 | 6781040 | 451.9 | -60 | 295 | 136 | NSI | Inneffective - missed structure | ||||
| 25AYRC009 | RC | OBLIQUE | 404090 | 6780762 | 454.7 | -60 | 165 | 76 | 16 | 22 | 6 | 1.06 | 6.4 | F1-Splay: 4m Composite,qz veining19-20m |
| 20 | 22 | 2 | 1.04 | 2.1 | 60%qz veining | |||||||||
| 32 | 33 | 1 | 0.10 | 0.1 | ||||||||||
| 0.0 |
==> picture [500 x 30] intentionally omitted <==
23
| >0.1g/t Au | >0.1g/t Au | Comments | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Collar Location and Orientation | Intersection | |||||||||||||
| Hole_ID | Type | Section | MGA_E | MGA_N | RL | Dip | Azimuth (Mag) |
Depth | From | To | Length | Grade | ||
| (Local) | (m) | (m) | (m) | (m) | (g/t) | (gram x metres) |
||||||||
| 25AYRC010 | RC | OBLIQUE | 404086 | 6780784 | 454.2 | -60 | 165 | 118 | 40 | 48 | 8 | 0.55 | 4.4 | F1 - Splay: 2 x 4m Composites; 40%qz veining44-45m |
==> picture [500 x 30] intentionally omitted <==
24
Appendix Two – JORC Code, 2012 Edition – Table 1
Section 1: Sampling Techniques and Data
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| Sampling techniques |
● Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole 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 (eg ‘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 (eg submarine nodules) may warrant disclosure of detailed information. |
● Reverse circulation (RC) sampling was carried out using a rig mounted cone splitter. ● Sampling was conducted by the drill offsiders on the drill rig and checked at the end of each rod (6 metres) to ensure that the sample ID’s matched the interval that was intended to be represented by that sample ID. No issues were seen or noted by the Competent person during the entire drilling campaign. These samples are kept onsite in a secure location available for further analysis if required. ● All RC samples were sieved and washed to ensure samples were taken from the appropriate intervals. The presence of quartz veining +- sulphide presence +- alteration was used to determine if a zone was interpreted to be mineralised. ● Sampling was additionally based on geological observations of interpreted intervals. ● The quality of the sampling is industry standard and was completed with the utmost care to ensure that the material being sampled, can be traced back to the interval taken from the drill hole for RC chips. ● Samples submitted for analysis weighed on average 3kg. ● All samples described in this announcement have been submitted to Intertek Laboratory in Kalgoorlie for initial sample preparation prior to shipment to Intertek Perth for final analysis. |
| Drilling techniques | ● Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc). |
● RC drilling used a downhole face sampling hammer with a nominal bit size of 5 inch (125mm) and 3.5inch diameter rod-string ● All of the drilling was undertaken by Strike Drilling using an X350 Aircore/Reverse Circulation Drill Rig with a 425psi/1000cfm on board compressor mounted on a VD3000 Marooka track base along with an 8x8 Mercedes truck mounted Atlas Copco B7/1000 Booster and Auxilliarycompressor unit. |
==> picture [500 x 30] intentionally omitted <==
25
| 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. |
● Sample recovery size and sample conditions (dry, wet, moist) were recorded. ● Drilling with care (e.g. clearing hole at start of each rod, regular cyclone cleaning) if water encountered to reduce incidence of wet samples. ● No relationship was displayed between recovery and grade nor loss/gain of fine/course material. |
|---|---|---|
| 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 and percentage of the relevant intersections logged. |
● All recovered samples from RC have been geologically logged to a level where it would support an appropriate Mineral Resource Estimate, mining studies and metallurgical test work. ● Logging was qualitative based on the 1 metre samples derived from RC drilling. Representative sample was collected in plastic chip trays which are securely stored on-site for future reference. ● Logging was qualitative based on geological boundaries observed. ● 100 percent of the drillholes were logged to capture all relevant geological units, structures and intersections. |
| 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. |
● RC chip samples were cone split from the drill rig into individual 1m green sample bags pre-numbered for hole depth and neatly laid out in 20m rows adjacent to the drill collar. ● A 1m sample was collected at the cone splitter on the RC rig in a pre-numbered calico bag. ● All RC samples were dry. All recoveries were >90%. ● Field duplicates, blanks and CRM standards were inserted every 25 samples. ● GEOSTATS standards or CRMs of 60 gram charges of G919-3 (Au grade of 0.87ppm Au), 916-2 (Au grade of 1.98ppm Au) and 918-2 (Au grade of 1.43ppm Au) and 919- 8 (Au grade of 0.57ppm Au) were used in alternating and sporadic patterns at a ratio of 1 QAQC sample in 25 samples submitted. ● Samples are dried (nominal 110 degrees C), crushed and pulverized to produce a homogenous representative sub-sample for analysis. All samples are pulverised utilising Intertek preparation techniques. ● The Competent Person is of the opinion RC drilling and sampling method are considered appropriate for the delineation of gold mineralisation. |
==> picture [500 x 30] intentionally omitted <==
26
| 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 (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established. |
● Gold and multi-element analyses were undertaken by Intertek Genalysis in Perth, using routine fire assay and multi element analysis by FA50/OE04 and 4A/MS48 ● This near-full digest is considered sufficient for this stage of exploration and the weathered nature of the samples. ● Gold analysis was undertaken with 50-gram Fire Assay with OES finish. The detection limit for gold via this method is 5ppb (0.005ppm). ● Laboratory QA/QC involves the use of internal lab standards using certified reference material, blanks, splits and replicates as part of the inhouse procedures. QC results (blanks, duplicates, standards) were in line with commercial procedures, reproducibility and accuracy. ● Multi-Element analyses were carried out combining a four-acid digestion with ICP-MS instrumentation. A four-acid digest is performed on 0.25g of sample to quantitatively dissolve most geological materials. Analytical analysis performed with a combination of ICP-OES & ICP-MS. Element analyses include: Ag, Al, As, Ba, Be, Bi, Ca, Cd, Ce, Co, Cr, Cs, Cu, Fe, Ga, Ge, Hf, In, K, La, Li, Mg, Mn, Mo, Na, Nb, Ni, P, Pb, Rb, Re, S, Sb, Sc, Se, Sn, Sr, Ta, Te, Th, Ti, Tl, U, V, W, Y, Zn, and Zr. ● The analytical method employed is appropriate for the styles of mineralisation and target commodity present. ● No geophysical tools, spectrometers, handheld XRF instruments were used. ● QAQC analysis shows that the lab performed within the specifications of the QAQC protocols. ● No external laboratory checks have been completed. |
| 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 umpire analysis has been performed. ● Data was collected on to standardised templates in the field and data cross checks were performed verifying field data and assay results. ● No adjustment to the available assay data has been made. ● For all intercepts, the first received assay result is always reported. |
| Location of data points |
● Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. |
● Drill hole collars are picked up at the end of each hole by the site supervising geologist using a handheld Garmin GPS. Accuracy is +/-5m. ● GDA94 Zone 51grid system was used. |
==> picture [500 x 30] intentionally omitted <==
27
| ● Specification of the grid system used. ● Quality and adequacy of topographic control. |
● Collars will be picked up by a qualified surveyor using a DGPS (Trimble S7or equivalent). ● The surveyed collar coordinates are sufficiently accurate and precise to locate the drillholes. |
|
|---|---|---|
| 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. |
● Drillholes were designed and drilled to test the validity of historical drilling information and not for Mineral Resource estimation and classification purposes. ● No mineral classification is applied to the results at this stage. ● 2m/4m composite and individual 1m interval samples and results described in this announcement were collected from a rig mounted cone splitter. |
| 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. |
● Drilling was designed as perpendicular as possible to the interpreted structure that hosts mineralisation to avoid introducing any bias. ● The drilling orientation and the orientation of key mineralised structures has not introduced a bias. ● All drillholes were downhole surveyed using a north seeking Gyro survey tool. |
| Sample security | ● The measures taken to ensure sample security. | ● The chain of supply from rig to the laboratory was overseen by a contract geologist. At no stage has any person or entity outside of the contract geologist, the drilling contractor, contract courier, and the assay laboratory come into contact with the samples. ● Samples were delivered by Arika field personnel and/or it’s contractors to the Intertek laboratory in Kalgoorlie for initial sample preparation then to Maddington for analysis. |
| Audits or reviews | ● The results of any audits or reviews of sampling techniques and data. |
● No external audit of the results, beyond the laboratory internal QAQC measures, has taken place. ● QA/QC data is regularly reviewed by MCT, and results provide a high-level of confidence in the assay data. |
Section 2: Reporting of Exploration Results
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28
| 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. |
The drilling being reported on in this announcement was all undertaken within Mining Lease, M39/84. Arika operates within a Joint Venture Agreement with Nex Metals Exploration (NME) and holds 80% with NME holding the remaining 20%. Please refer to announcement “Metalicity Achieves Earn-In On The Kookynie & Yundamindra Gold Projects” dated 21st December 2023. ● No impediments exist to obtaining a license to operate over the listed tenure at the time of reporting. |
| Exploration done by other parties |
● Acknowledgment and appraisal of exploration by other parties. |
● Arika Ltd has completed a review of historical data and made corrections to previously supplied data from the JV partner NME. ● The Yundamindra areas has been subject to multiple phases of exploration since discovery of gold before 1899. Further small-scale mining occurred until the 1940’s. Exploration activities between the late 1970’s into the early 1980’s was completed by Pennzoil Australia, Kennecott Exploration with Hill Minerals, and Picon Exploration. ● Mt Burgess Gold Mining Company undertook significant exploration drilling to generate resource estimates for the western and eastern lines of mineralisation in 1988 and 1989 respectively. Sons of Gwalia entered into a JV with Mt Burgess in the mid 1990’s which lasted until 1999 then held the project tenements outright until 2003 which included exploration activities, a re-optimisation study in 1997 on part of the Western Line of mineralisation, as well as further resources estimates. Saracen Gold held the project tenements from 2006 until 2010 until it entered into a JV with NME. NME controlled the project outright from 2013 until entering into a JV with Arika in 2019. |
| Geology | ● Deposit type, geological setting and style of mineralisation. |
● Yundamindra: ● The Yundamindra Project lies within the Murrin-Margaret sector of the Leonora- Laverton area; part of the north-northwest to south-southeast trending Norseman-Wiluna Greenstone Belt of the Eastern Goldfields Province of the Yilgarn Craton. ● The Murrin-Margaret sector is dominated byan upright,north to north-northwest |
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| trending asymmetric regional anticline (Eucalyptus Anticline) centred about the Eucalyptus area. The western limb of the regional anticline has been intruded by granitoids (Yundamindra area). Strike-slip faulting is dominant along the eastern limb. ● The Yundamindra Project encompasses zones of gold mineralisation occurring along the margin of a regional scale hornblende-granodiorite batholith which intruded mafic lithologies. The contact is sub-divided into two ‘lines’ of mineralisation, western and eastern. ● The Western Line consists of a north-northwest trending zone of generally continuous, east dipping quartz reefs and quartz filled shears in granitoids, near the contact between a large hornblende granodiorite pluton and a thin remnant greenstone succession. The lode generally strikes parallel to a regional north- northwest schistosity in the mafic succession immediately to the west. Folding and faulting has dislocated the continuity of the lode in places and produced domal structures. ● The Eastern Line encompasses the eastern portion of the arcuate granodiorite/greenstone contact with gold mineralisation associated with quartz veining within the mafic succession and within quartz vein/stockwork within granodiorite. ● All exploration targets, prospects and deposits are interpreted as orogenic shear- hosted exploration targets for gold mineralisation. |
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| Drill hole 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: o easting and northing of the drill hole collaro elevation or RL (Reduced Level – elevation above sealevel in metres) of the drill hole collar o dip and azimuth of the holeo down hole length and interception deptho hole length.● If the exclusion of this information isjustified on the basis |
● All discussion points are captured within the announcement above. ● For RC drilling, dip and azimuth data is accurate to within +/-5ᵒrelative to MGA UTM grid (GDA94 Z51). ● For all drilling, down hole depth and end of hole length is accurate to with +/- 0.2m. ● All RC and diamond drillholes completed by Arika were surveyed downhole using a north seeking Gyro tool supplied by the drilling contractor. ● A collar table is supplied in the appendices. ● A summary of significant intercepts table is supplied in the Appendices. |
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| 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. |
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| Data aggregation methods |
● In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg 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 clearly stated. |
● Intercepts are reported as down-hole length on 2m/4m composites and/or 1 metre individual samples from RC drilling. ● Gold intercepts have been calculated using the weighted average method for all intervals reporting >0.1g/t Au. ● Intercepts are reported as down-hole lengths and average gold intercepts are calculated with a 0.1 g/t and 0.5 g/t Au lower cut, no upper cut and <4m internal dilution. ● Intercepts were defined geologically based on an interpretation of the target zone at a given location. ● Length weighted grades were then calculated based on a sample returning an assay value of greater than 0.1 g/t Au for the low-grade envelope and internal zones of greater than 0.5 g/t Au and 5.0 g/t Au. Generally, no more than 4 metres of internal material that graded less than 0.1 g/t Au was included except where a Raft or ‘Horse’ of lower grade country rock was interpreted as being within the targeted lode zone as defined by adjacent holes. ● Intervals were based on geology and no top cut off was applied. ● No metal equivalents are discussed or reported. |
| 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 down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’). |
● All holes reported here are designed to intersect the target zone/mineralisation orthogonal to both strike and dip. The downhole length is therefore close to the true thickness. |
| Diagrams | ● Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any |
● A selection of appropriate maps and sections are included within the body of the report. |
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| significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views. |
● Please see main body of the announcement for the relevant figures showing the drillholes completed. |
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| 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. |
● All results and all plans are presented in a form that allows for the reasonable understanding and evaluation of the exploration results being announced. |
| 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 contaminating substances. |
● The area has had significant historical production recorded and is accessible via the MINEDEX database. ● All material results from geochemical, geophysical, geological mapping and drilling activities related to prospects across the Yundamindra Gold Project have been disclosed. |
| Further work | ● The nature and scale of planned further work (eg 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. |
● Follow up exploration activities will include, but not limited to RC and diamond drilling and planned for the remainder of 2025 pending outcomes from the drilling results and ongoing interpretation. ● Diagrams pertinent to the areas in question are supplied in the body of this announcement. |
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