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CARBINE RESOURCES LIMITED Capital/Financing Update 2021

Mar 31, 2021

64704_rns_2021-03-31_d3135f64-4138-4fbb-b024-a26d4f67687f.pdf

Capital/Financing Update

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ASX / MEDIA ANNOUNCEMENT

1 April 2021

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Carbine to acquire the Muchea West Silica Sand Project

HIGHLIGHTS

  • Carbine Resources Limited (Company) has entered into a Terms Sheet to acquire Australian United Silica Corporation Pty Ltd (Ausco).

  • Ausco is the holder of the highly prospective Muchea West Silica Sands Project.

  • Mapping and drilling has defined a target area of 100km[2] .

  • Significant recent drilling results include:

  • Hole Aus011: 9m at 99.8% SiO2 from 1m

  • Hole Aus013: 9m at 99.8% SiO2 from 1m

  • Hole Aus014: 9m at 99.9% SiO2 from 1m

  • Hole Aus044: 19m at 99.7% SiO2 from 1m

  • Hole Aus068: 15m at 99.6%SiO2 from 5m

  • All 82 Ausco holes drilled returned white sand profiles of greater than 99.0% SiO2

  • over 80% of Ausco holes drilled had white sand profiles greater than 99.6% SiO2

  • Muchea West Project is located directly to the west of Muchea. VRX Silica Ltd’s (ASX: VRX) Muchea Silica Sand Project, host to an Indicated Resource of 29Mt at 99.6% SiO2 and Inferred Resource of 179Mt at 99.6% SiO2 for a global resource of 208Mt at 99.5% SiO2[1] , is the northern portion of the Muchea West dune system.

  • Acquisition consideration consists of 200,000,010 ordinary shares and 50,000,003 unquoted options with an exercise price of $0.06 and a 5 year expiry date.

  • The Company will issue a Prospectus to raise up to $3 million at $0.03 per share.

  • The Company will appoint Mr Peter Main as Non-Executive Chairman and Mr Peter Batten as Managing Director. Evan Cranston will remain as a Non-Executive Director.

  • The transaction is subject to conditions, including Company shareholder approval and the Company's re-compliance with Chapters 1 and 2 of the Listing Rules.

Carbine Resources Limited (ASX: CRB) (the Company ) is pleased to advise that it has signed a binding Term Sheet ( Term Sheet ) with Australian United Silica Corporation Pty Ltd ( Ausco ) and certain key shareholders of Ausco that are designated as a Major Shareholders (together, the Major Shareholders and each a Major Shareholder ) whereby the Company will, on the satisfaction of various conditions precedent, acquire 100% of the issued capital in Ausco ( Transaction ).

1 VRX Silica Ltd, ASX Release, 17 June 2019 “ Muchea Mineral Resource Estimate Upgrade"

ABN 81 122 976 818 Suite 23, 513 Hay Street Subiaco WA 6008 PO Box 1311 Subiaco WA 6904 phone +61 8 6142 0986

[email protected] www.carbineresources.com.au

Ausco holds 100% of the Muchea West Silica Sands Project which covers a land area of 102km[2] consisting of an exploration licence, E70/4905 ( Tenement ).

In connection with the Transaction, the Company intends to raise a minimum of $2.5 million and a maximum of $3 million (before costs) at an issue price of $0.03 per ordinary fully paid share ( Share ) pursuant to a public offer under a prospectus ( Capital Raise ). Funds raised will be spent on an exploration program regarding the Muchea West Silica Sand Project.

The Transaction is subject to satisfaction of various conditions precedent, including (amongst other things) shareholder approval and the Company satisfying the requirements of Chapters 1 and 2 of the Listing Rules for reinstatement to official quotation of its securities.

MUCHEA WEST SILICA SAND PROJECT

Location, Access & Proximal Infrastructure

The Muchea West Project is located approximately 40km north-northeast of Perth and approximately 500m to the west of Muchea. Direct access from the tenure is via the Brand Highway thence via farm tracks and fence lines. Both the Brand Highway and the Moora-Kwinana Railway provide a direct connection with the Kwinana Bulk Terminal. The Muchea West Project is located directly adjacent to VRX Silica Ltd’s Muchea Project.

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Figure 1: Project Location Plan

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Tenure

The Muchea West Project covers a land area of 102km[2] and consists of a single granted exploration licence, E70/4905.

Project Geology

The Project is underlain by the Bassendean Sand Formation, which extends over large areas of the Swan Coastal Plains of the Perth Basin from about 23 km north of Jurien, to about 15km southwest of Busselton. The Bassendean Sand Formation is considered to have a maximum thickness of about 45 m, and the unit is found as a strip parallel to the coast, having a width of about 10-20 km, and its western edge about 5-10km inland. Concretionary ferruginous material, locally known as “coffee rock”, is developed discontinuously in the sand near the groundwater table. In the Tenement, good quality silica sand overlies iron rich brown sand, occasionally interspersed with ferruginous nodules.

The upper units of the Bassendean Sand Formation are typically clean, well-rounded and well sorted sands. At depth, it is commonly brown to dark brown with high iron contents, however closer to the surface the sand is cream/white. The physical, chemical and mineralogical characteristics of the Bassendean Sands can vary considerably, resulting in variation in the quality of the sand regionally as well as locally. In general, the Bassendean Sand Formation is covered with very little or no overburden.

Figure 2: Project Geological Setting

Previous Exploration Undertaken

The region surrounding the Project has been explored for both silica sand and mineral sands.

Recent Exploration Activities

A total of eighty-two aircore drill holes (78 drill holes to depth of 10m and 4 to depth of 15 to 20m) were drilled at nominal 200m spacing on six drill lines along existing tracks (as shown in Figure 3 below within the Tenement area). The drilling locations were located using hand held GPS.

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Figure 3: Drill Collar Plan

The drilling encountered unconsolidated sand and was terminated either at designated depth or the water table. One metre downhole samples were collected at each drilling location. Aircore drill samples are collected in a plastic tub and homogenised, rotary split into one larger sample bag (~3kg) and 2 smaller 250g subsamples. One of the subsamples is prepared for laboratory and the other is retained for repeat analysis and QA/QC purposes. The bulk sample is retained for later metallurgical test work. The sample splitter and cyclone are cleaned regularly to prevent sample contamination.

Drilled samples for each 1 m interval were also placed into chip trays which are then photographed to provide a permanent record of the downhole lithology. Detailed visual assessment and logging of sample recovery are provided in the drill logs. The first metre of all the drill holes is mainly the humus layer.

The sample assays were carried out to determine the major and trace elements such as SiO2 (%), Fe2O3 (%), Al2O3 (%), CaO (%) MgO (%), K2O(%), TiO2(%) and LOI(%). Major and trace elements in exception to SiO2 were analysed using a four-acid digest followed by Inductively Coupled Plasma Optical (Atomic) Emission Spectrometry (ICP-OES) analysis. Loss on Ignition (LOI) at 1000[0] C was analysed by Thermal Gravimetric Analyser. SiO2 was back calculated by subtracting all ICP major and trace elements plus LOI from 100%.

Significant results from drilling include:

  • Hole Aus011: 9m at 99.8% SiO2 from 1m

  • Hole Aus013: 9m at 99.8% SiO2 from 1m

  • Hole Aus014: 9m at 99.9% SiO2 from 1m

  • Hole Aus044: 19m at 99.7% SiO2 from 1m

  • Hole Aus068: 15m at 99.6%SiO2 from 5m

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A total of 82 holes were drilled by Ausco at the Muchea West Silica Sand Project. Of this total, 0 holes intersected white sand profiles with silica contents below 99.0% SiO2 and only 16 holes returned profiles with silica contents less than 99.6% SiO2.

CAPITAL RAISING

To assist the Company to re-comply with Chapters 1 and 2 of the Listing Rules and to support the proposed exploration program following completion of the Transaction, the Company plans, subject to the approval of the Company’s shareholders ( Shareholders ), to conduct a capital raising under a full form prospectus to raise a minimum of $2.5 million and a maximum of $3 million (before costs) through an offer of a minimum of 83,333,333 Shares and maximum of 100,000,000 Shares ( Capital Raising Shares ) at an issue price of $0.03 per Share ( Capital Raising ). The Capital Raising will not be underwritten.

LISTING RULE 11.1.2 AND ASX DISCRETION

Listing Rule 11.1.2 applies to the Transaction. The Transaction requires Shareholder approval under the Listing Rules and therefore may not proceed if that approval is not forthcoming.

The Company will seek Shareholder approval at a meeting of Shareholders to be held in due course. If such Shareholder approval is not received, the Transaction will not progress.

The Company is required to re-comply with ASX’s requirements for admission and quotation and therefore the Transaction may not proceed if those requirements are not met.

ASX has an absolute discretion in deciding whether or not to re-admit the entity to the official list and quote its securities and therefore the Transaction may not proceed if ASX exercises that discretion.

Investors should take account of these uncertainties in deciding whether or not to buy the Company’s securities, which are currently suspended from trading.

ASX takes no responsibility for the contents of this announcement.

The Company confirms that this announcement has been authorised and approved by its Board.

The Company confirms that it is in compliance with Listing Rule 3.1.

KEY ACQUISITION TERMS

Pursuant to the Terms Sheet, the Company has agreed to acquire 100% of the issued capital in Ausco, subject to the satisfaction or waiver of conditions precedent. A summary of the key terms of the Transaction is set out below. The Terms Sheet also contains warranties granted by and to the Company, among other terms which are considered standard for agreements of this nature.

1. Consideration

The Company proposes to issue 200,000,010 fully paid ordinary shares ( Consideration Shares ) to the Ausco Shareholders for the sale of their Ausco Shares and 50,000,003 unquoted options with an exercise price of $0.06 and a 5 year expiry date ( Consideration Options ) to the Ausco Optionholders for the cancellation of their Ausco Options in consideration for the Transaction.

The Company also proposes to make a total of $500,000 in cash payments to certain creditors of Ausco, including directors and consultants of Ausco in satisfaction of director and consultant fees for services provided by the Ausco creditors.

2. Conditions Precedent

Completion of the Transaction will be subject to a number of conditions precedent, including but not limited to:

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  • (a) ( Company due diligence ) the Company completing due diligence on Ausco to its satisfaction;

  • (b) ( Ausco due diligence ) Ausco completing due diligence on the Company to its satisfaction;

  • (c) ( Company financial position and capital structure ) Ausco being satisfied with the proforma financial position and capital structure of the Company after completion of the Transaction;

  • (d) ( Shareholder approval ) the Company obtaining all necessary Shareholder approvals required in relation to the Transaction;

  • (e) ( ASX Waivers ) the Company obtaining all necessary waivers and confirmations required by the Listing Rules;

  • (f) ( ASX re-compliance ) the Company re-complying with the requirements of Chapters 1 and 2 of the Listing Rules in connection with the Transaction and receiving conditional approval from ASX to admit its securities to official quotation on ASX on terms reasonably acceptable to the Company and Ausco;

  • (g) ( Capital Raising ) the Company raising a minimum of $2,500,000 through the issue of a minimum of 83,333,333 Shares at an issue price of $0.03 per share via the Capital Raising;

  • (h) ( Prospectus ) the Company preparing a full form prospectus under Part 6D.2 of the Corporations Act;

  • (i) ( Minority shareholder agreements ) each shareholder of Ausco other than the Major Shareholders providing the Company with a minority shareholder agreement under which they agree to sell their respective shares in Ausco to the Company;

  • (j) ( Option cancellation deeds ) each Ausco Option holder providing the Company with an option cancellation deed for the cancellation of their Ausco Options;

  • (k) ( Company Material Contracts ) the Company and Konkera Holdings Pty Ltd agreeing to vary an engagement letter of Konkera Holdings Pty Ltd;

  • (l) ( Access Deed ) the extension of the term of an access deed with the Department of Defence in respect of the Tenement to 30 June 2023 and confirmation from the Department of Defence that it will not terminate the access deed following notification of a change in control; and

  • (m) ( Programme of Work ) Department of Mines, Industry Regulation and Safety approving the programme of work in respect of the Tenement.

3. Facilitation fee

The Company also proposes to issue 25,000,000 unquoted options with an exercise price of $0.06 and a 5 year expiry date ( Facilitation Options) as a facilitation fee at settlement to Golden Triangle Capital Pty Ltd. The issue of the Facilitation Options as a facilitation fee is not consideration for the acquisition of Ausco. The Facilitator is not a shareholder or related party of Ausco.

4. Termination

If any of the conditions precedent set out above are not satisfied (or waived) by 30 April 2021 (or such later date as the parties may agree), either the Company or Ausco may terminate the Terms Sheet.

The Company or Ausco may also terminate the Terms Sheet if, among other things, ASX indicates that it will not approve the Transaction or the re-quotation of the Company's Shares .

PROPOSED APPOINTMENT OF DIRECTORS

With effect from the settlement date, Mr Peter Main will be appointed as Non-Executive Chairman and Mr Peter Batten will be appointed as Managing Director. Mr Evan Cranston will remain on the Board as a Non-Executive Director. Mr Mathew O'Hara and Ms Oonagh Malone will step down as directors of the Company (with Ms Oonagh Malone continuing to act in the role of Company Secretary).

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Mr Batten is a geologist with 35 years of experience in the resources industry as a geologist, mine manager and consultant and has worked on nickel, gold, graphite, uranium and iron or related projects. Mr Batten has worked in Bougainville, Australia, Argentina, Guinea, Indonesia, Namibia, New Zealand, South Africa, Sweden, USA and Zimbabwe. Mr Batten was a director for MCB Resources Limited ( MCB ) from 9 January 2018 until 5 August 2019. Mr Batten holds a BSC Geology and MAusIMM. Mr Batten is not currently a director of any ASX-listed companies, however has been the director of six other ASX listed companies in the past including being elected as the Managing Director of Bannerman Resources Limited and the Managing Director of White Canyon Uranium Limited.

Mr Main is a mining and finance professional with experience spanning more than 30 years. During that time, Mr Main has gained working knowledge in financial markets around the mining sector and industry experience. During his career Mr Main has spent 13 years in the mining industry from operations through to CEO of a TSXV listed mining company, obtaining experience across facets of the industry. He spent 20 years in finance, more recently in an advisory capacity to the mining and finance industries. Prior to that, Mr Main worked for investment banks. He has managed the Royal Bank of Canada's ( RBC ) Australian equity sales and trading business for 11 years and also RBC's regional business. Mr Main also spent six years at Hartley Poynton as a mining analyst and almost nine years full time service in the Australian Army. He was a former Director of Rizal Resources. Mr Main is currently a Non-Executive Director of Paladin Energy Ltd (ASX:PDN) where he is chairman of the Audit & Risk Committee and a member of the Remuneration, Nomination & Governance, and Sustainability Committees.

INDICATIVE TIMETABLE

The indicative timetable for the matters contemplated by the Transaction is set out below.

Description Indicative timing
Despatch of Notice of Meeting Early-April 2021
Lodgement of Prospectus with ASIC Early-April 2021
Opening of the Capital Raising Offer Mid-April 2021
General Meeting held to approve the Transaction Early-May 2021
Closing of Capital Raising Offer Early-May 2021
Issue of securities under the Capital Raising Offer Mid-May 2021

Note : The above dates are indicative only and may change without notice. The Company reserves the right to extend the Closing Date or close the Offer early without prior notice. The above stated date for completion of the Transaction is only a good faith estimate by the Directors and may have to be extended.

INDICATIVE CAPITAL STRUCTURE

The indicative capital structure of the Company on completion of the Transaction is set out below:

**Description ** Min
%

Max

%
ExistingShares 199,746,729 - 199,746,729 -
Post-Consolidation1 179,772,056
38.82%
179,772,056
37.47%
ConsiderationShares 200,000,010 43.19% 200,000,010 41.69%
Capital Raising 83,333,333 17.99% 100,000,000 20.84%
Total 463,105,399 100% 479,772,066 100%

Notes:

  1. The Company proposes to undertake a consolidation on a 10-to-9 basis to satisfy the requirements of ASX Guidance Note 12.

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Options Number of Options %
Existing Options Nil N/A
New Options1 50,000,003 66.7
FacilitationOptions1 25,000,000 33.3
Total 75,000,003 100

Notes:

  1. Unquoted options exercisable at $0.06 on or before 5 years from the date of grant.
Performance Rights Number of
Performance Rights
%
ExistingPerformance Rights Nil N/A
Performance Rights to be issued toproposed directors1 10,000,000 100
Total 10,000,000 100

Notes:

  1. It is currently anticipated that proposed directors of the Company Messrs Peter Batten and Peter Main will each be issued 5,000,000 performance rights subject to shareholder approval. The performance rights will vest in five equal tranches, dependent on the 5-day volume weighted average price of the Company’s Shares being equal to or greater than $0.06 for tranche 1, $0.09 for tranche 2, $0.15 for tranche 3, $0.25 for tranche 4 and $0.35 for tranche 5.

USE OF FUNDS

The Company intends to use the funds raised under the Capital Raising, together with the Company's estimated existing cash reserves, in the 24 months following the reinstatement of the Company's securities to quotation on ASX as follows:

Minimum subscription Year 1 ($) Year 2 ($) Total ($)
Explorationexpenditure 962,500 1,114,400 2,076,900
Proposed cash payment1 500,000 - 500,000
Corporate costs (including
Directors'fees)2
500,000 500,000 1,000,000
Working capital 140,216 - 140,216
Expenses of the Capital
Raising3
350,000 - 350,000
**Total ** 2,452,716 1,614,400 4,067,116
Maximum subscription Year 1 ($) Year 2 ($) Total ($)
Exploration expenditure 962,500 1,114,400 2,076,900
Proposed cashpayment1 500,000 - 500,000
Corporate costs (including
Directors' fees)2
500,000 500,000 1,000,000
Working capital 300,000 310,216 610,216
Expenses of the Capital
Raising3
380,000 - 380,000
**Total ** 2,642,500 1,924,616 4,567,116

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Notes:

  1. Proposed $500,000 cash payments to Ausco which will be utilised to pay certain creditors of Ausco, including directors and consultants.

  2. Corporate administration costs include company secretary fees, rent, audit, ASIC and ASX fees and executive team and support fees.

  3. Expenses of the Capital Raising include broker fees (6% of funds raised) and preparation of Transaction related materials.

The above tables are statements of current intentions as at the date of this announcement. Shareholders should note that, as with any budget, the allocation of funds set out in the above table may change depending on a number of factors, including the outcome of operational and development activities, regulatory developments and market and general economic conditions. In light of this, the Board reserves the right to alter the way the funds are applied.

KEY DEPENDENCIES AND RISKS

The following key dependencies and risks regarding the Transaction have been identified as at the date of this announcement however the Company's understanding of these risks may change, or new risks be identified, as part of the ongoing due diligence process (with the completion of due diligence to the satisfaction of the Company being a condition precedent to the Transaction).

1. Mining approvals, tenure and permits

The Tenement is set to expire on 23 April 2022. An application to extend the term of the Tenement can be made for a further 5 years. For the term to be extended, the Minister must be satisfied that a prescribed ground for extension of the exploration licence exists. The Company is not aware of any reason why the term of the Tenement would not be extended at the appropriate time. The grant of any mining lease in due course will be subject to such State and Commonwealth regulatory approvals, as may be required.

2. Access Risk

Approximately 65% of the land area comprising the Tenement covers an area known as the Muchea Air Weapons Range and is operated pursuant to the Defence Force Regulations 1952 (Cth).

Access by Ausco to the Tenement is permitted pursuant to an access agreement between Ausco and the Commonwealth of Australia ( Access Deed ), with the current Access Deed dated 28 October 2020 due to expire on 28 February 2022 ( 2020 Access Deed ) The 2020 Access Deed is subject to renewal with the consent of the Department of Defence (not to be unreasonably withheld). The Department of Defence has been co-operative in the past and had previously agreed to two extensions to the Access Deed, the first extension being for 13 months on 11 July 2019 and the second extension being for 16 months on 28 October 2020.

The 2020 Access Deed permits Ausco to enter on to the land and carry out "mining exploration activities". The 2020 Access Deed does not permit Ausco to mine for minerals. The grant of such access will be subject to such State and Commonwealth regulatory approvals and consents as may be required.

Commonwealth activities: The Commonwealth has the right to notify Ausco that a Defence operation or practice will be occurring on the land the subject of the Access Deed, in which case Ausco must not remain on or access the land during the Defence operation or practice unless the Commonwealth has provided permission. The Commonwealth has not at any time provided with Ausco with such a notification.

The Muchea Air Weapons Range has a highly controlled and fenced bombing target range located approximately 3km to the south west of the Tenement. The bombing target range does not encroach on the land the subject of the Access Deed. The land the subject of the Access Deed extends up to 10km north and approximately 8m east of the bombing target range, and is therefore understood to be land to provide a buffer zone for Commonwealth liability purposes. In Ausco’s experience, and as confirmed by communication with the Department of Defence personnel, there has not been any activity by the Department of Defence in the land the subject of the Access Deed for a considerable period of time (and any use has been primarily related

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to access and clearing). Additionally, the land the subject of the Access Deed has never been used as a bombing range. Ausco understands the last major activity was the construction of the Muchea Tracking Station in 1961. Ausco therefore considers the likelihood of a Defence operation or practice within the Tenement area to be low. In the unlikely event that a Defence operation occurs within the Tenement area and access to the affected Tenement area is restricted, the Company would propose to move its mining exploration activities to other unaffected areas within the Tenement.

Change of Control: Upon a change in control of Ausco, Ausco must notify the Commonwealth as soon as practicable. If, as a result of a change in control any persons have access to information regarding the Commonwealth activities within the land, or are in a position to determine policy in respect of Ausco or its business; and in the opinion of the Commonwealth, the Commonwealth's defence or security interests in the land could be prejudiced, the Commonwealth may terminate the 2020 Access Deed.

Company composition: Ausco must notify the Commonwealth of any new director appointment within 48 hours of appointment. If Ausco appoints a new director the Commonwealth may require Ausco to agree to amendments to the Access Deed to protect the Commonwealth's defence and security interests on the land or terminate the 2020 Access Deed.

Termination: The Commonwealth may terminate the Access Deed for a 'Defence purpose' which is defined broadly to include:

  • (a) any purpose determined by the Department of Defence as necessary or desirable for carrying out its functions, including:

  • (i) any activities or requirements of the Australian Defence Forces; the management, disposal, divestment, leasing, licensing, acquisition, development, reorganisation and general administration of Department of Defence's property holdings;

  • (ii) the management, disposal, divestment, leasing, licensing, acquisition, development, reorganisation and general administration of Department of Defence's property holdings;

  • (iii) safety, security, work health and safety; or

  • (iv) heritage and environment;

  • (b) national security, emergency and defence purposes; and

  • (c) anything determined by a Minister, Parliamentary Secretary, Secretary or Assistant Secretary or the Department of Defence as being Defence Purposes.

Private land: Approximately 20% of the Tenement overlaps freehold land held by various third parties. The Tenement has been granted over sub-surface rights in those areas (ie, below 30m) and Ausco will need the consent of the landholders to obtain surface rights to those areas. There are no agreements in place with those landholders to date and Ausco would only seek to negotiate such agreements and obtain the necessary consents if and when it wishes to conduct activities on those areas.

3. Re-Quotation of Shares on ASX

There is a risk that the Company may not be able to meet the requirements of the ASX for re-quotation of its Shares on the ASX. Should this occur, the Shares will not be able to be traded on the ASX until such time as those requirements can be met, if at all. Shareholders may be prevented from trading their Shares should the Company be suspended until such time as it does re-comply with the Listing Rules.

4. Dilution risk

There is a risk that the interests of Shareholders will be further diluted as a result of future capital raising that may be required in order to fund the future development of the Company.

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5. Completion, counterparty and contractual risk

There is a risk that the conditions precedent for completion of the Transaction will not be fulfilled and, in turn, that completion will not occur.

The ability of the Company to achieve its stated objectives will depend on the performance by Ausco and the shareholders of Ausco of their obligations under the Terms Sheet or separate sale agreement (as applicable). If Ausco or any other counterparty defaults in the performance of its obligations, it may be necessary for the Company to approach a court to seek a legal remedy, which can be costly and without any certainty of a favourable outcome.

6. Title risk

Interests in the Tenement are governed by the Mining Act 1978 (WA), and related subsidiary legislation, and is evidenced by granting the exploration licence. The Tenement is for a specific term and carries with it annual expenditure and/or reporting commitments, as well as other conditions requiring compliance. Consequently, Ausco could lose title to or its interest in tenements if licence conditions are not met or if insufficient funds are available to meet expenditure commitments.

7. Licences, permits and approvals

Certain mineral rights and interests to be held by Ausco are subject to the need for ongoing or new government approvals, licences and permits. These requirements, including work permits and environmental approvals, will change as Ausco’s operations develop. Delays in obtaining, or the inability to obtain, required authorisations may significantly impact on Ausco’s operations.

Pursuant to the Tenement comprising the Muchea West Silica Sands Project, Ausco will become subject to payment and other obligations. In particular, licence holders are required to expend the funds necessary to meet the minimum work commitments attaching to the Tenement. Failure to meet these work commitments may render the licence subject to forfeiture or result in the holders being liable for fees. Further, if any contractual obligations are not complied with when due, in addition to any other remedies that may be available to other parties, this could result in dilution or forfeiture of Ausco's interest in its project.

8. Exploration and development risks

Mineral exploration and development are high-risk undertakings. There can be no assurance that exploration of acquired projects or any other exploration properties that may be acquired in the future will result in the discovery of an economic resource. Even if an apparently viable resource is identified, there is no guarantee that it can be economically exploited.

The future exploration activities of the Company may be affected by a range of factors including geological conditions, limitations on activities due to seasonal weather patterns, unanticipated operational and technical difficulties, industrial and environmental accidents, native title process, changing government regulations and many other factors beyond the control of the Company.

The success of the Company will also depend upon the Company having access to sufficient development capital, being able to maintain title to its projects and obtaining all required approvals for its activities. In the event that exploration programs are unsuccessful this could lead to a diminution in the value of its project, a reduction in the cash reserves of the Company and possible relinquishment of part or all of its project.

9. Operating risk

The operations of the Company may be affected by various factors, including failure to locate or identify mineral deposits, failure to achieve predicted grades in exploration and mining, operational and technical difficulties encountered in mining; difficulties in commissioning and operating plant and equipment, mechanical failure or plant breakdown, unanticipated metallurgical problems which may affect extraction costs; adverse weather

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conditions, industrial and environmental accidents, industrial disputes and unexpected shortages or increases in the costs of consumables, spare parts, plant and equipment.

10. Metals and currency price volatility

The Company's ability to proceed with the development of its mineral projects and benefit from any future mining operations will depend on market factors, some of which may be beyond its control. It is anticipated that any revenues derived from mining will primarily be derived from the sale of iron ore. Consequently, any future earnings are likely to be closely related to the price of this commodity and the terms of any off-take agreements that the Company enters into.

11. Competition risk

The industry in which the Company will be involved is subject to domestic and global competition, including major mineral exploration and production companies. Although the Company will undertake all reasonable due diligence in its business decisions and operations, the Company will have no influence or control over the activities or actions of its competitors, which activities or actions may, positively or negatively, affect the operating and financial performance of the Company's projects and business.

12. Commodity Price Risk

The Company's ability to proceed with the development of its mineral projects and benefit from any future mining operations will depend on market factors, some of which may be beyond its control. It is anticipated that any revenues derived from mining will primarily be derived from the sale of silica. Consequently, any future earnings are likely to be closely related to the price of this commodity and the terms of any off-take agreements that the Company enters into.

Silica prices and its demand are cyclical in nature and subject to significant fluctuations. Any significant decline in the prices of these or demand could materially and adversely affect the company’s business and financial condition results of operations and prospects.

13. Reliance on key personnel

The Company is reliant on a number of key personnel and consultants, including members of the Board. The loss of one or more of these key contributors could have an adverse impact on the business of the Company.

It may be particularly difficult for the Company to attract and retain suitably qualified and experienced people given the current high demand in the industry and relatively small size of the Company, compared with other industry participants.

14. Conflicts of interest

Certain Directors are also directors and officers of other companies engaged in mineral exploration and development and mineral property acquisitions. Accordingly, mineral exploration opportunities or prospects of which these Directors become aware may not necessarily be made available to the Company in the first instance. Although these Directors have been advised of their fiduciary duties to the Company, actual and potential conflicts of interest among these persons and situations may arise in which their obligations to, or interests in, other companies could detract from their efforts on behalf of the Company.

DETAILS OF SELLER

Pursuant to the Transaction, the Company will acquire 100% of the shares of Ausco held by Ausco's 27 shareholders. On completion of the Transaction, it is expected that Ausco shareholders will hold approximately

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43.19% of the Company on a Minimum Subscription basis and approximately 41.69% on a Maximum Subscription basis. No person will acquire control of or voting power of 20% or more in the Company as a result of the Transaction.

The Major Shareholders are Ms Wendy Hogan and Messrs Sivagami Selvakumar, Brenton Parry and Paul Browne. The Major Shareholders collectively hold approximately 59.3% of the issued capital of Ausco.

None of the shareholders of Ausco (including the Major Shareholders) are a related party of the Company.

FINANCIAL INFORMATION

A pro forma statement of financial position of the Company as at 31 December 2020 based on the audited accounts of Ausco is set out in Appendix 1.

Financial statements for Ausco and historical financial information is to be provided with the notice of meeting to Shareholders to approve the Transaction.

COMPANY NAME

As at the date of this announcement, the Company does not intend to change its name.

APPROPRIATE ENQUIRIES

The Company has undertaken appropriate enquiries into the assets and liabilities, financial position and performance, profits and losses and prospects of Ausco to be satisfied that the Transaction is in the interests of the Company and its security holders, subject to it completing the various conditions precedent of the Terms Sheet to its satisfaction.

As part of its enquiries, the Company has commenced legal and financial due diligence of Ausco’s operations. The Company notes that the Terms Sheet contains a condition precedent that the Company completes due diligence to its satisfaction. The Company has not yet satisfied or waived this condition precedent, but intends to complete due diligence prior to lodging the prospectus pursuant to the Capital Raising and seeking reinstatement of its shares to official quotation.

SHAREHOLDER APPROVALS

A notice of meeting seeking Shareholder approval for the resolutions required to give effect to the Transaction ( Transaction Resolutions ) will be sent to Shareholders in due course. It is expected that the Company will convene a general meeting to be held in April 2021 to facilitate Shareholder approval for matters in respect of the Transaction. The Transaction Resolutions will seek shareholder approval for:

  • (a) the change in nature and scale of the Company’s activities pursuant to Listing Rule 11.1.2;

  • (b) the issue of 200,000,010 Consideration Shares to the Ausco shareholders (or their nominees) in consideration for the acquisition of the Ausco shares held by the Ausco shareholders;

  • (c) the issue of 50,000,003 unquoted Options to the Ausco option holders in consideration for the cancellation of the Ausco option holder's options;

  • (d) the issue of 5,000,000 Performance Rights to each of Messrs Peter Main and Peter Batten;

  • (e) the issue of up to 100,000,000 Capital Raising Shares at an issue price of $0.03 per Share;

  • (f) the appointment of Messrs Peter Main and Peter Batten as Directors; and

  • (g) related party participation in the Capital Raising pursuant to Listing Rule 10.11.

Page 13

ASX WAIVERS

The Company will apply to ASX for:

  • (a) a waiver of Listing Rule 1.1 Condition 12 to permit the Company to have options on issue with an exercise price of less than $0.20 each;

  • (b) a waiver of Listing Rule 2.1 condition 2 to permit the Company to undertake the Capital Raising at a price of less than $0.20 per Share and to issue the Consideration Shares at a deemed issue price of $0.03 per Share;

  • (c) a waiver of Listing Rule 10.13.5 to permit the Notice not to state that:

  • (i) the Capital Raising Shares to be issued to the related parties participating in the Capital Raising; and

  • (ii) the Performance Rights to be issued to the proposed directors,

will be issued no later than one month after the date of the meeting;

  • (d) a waiver of Listing Rule 9.1 to permit the Company to apply ‘look through relief' to the Consideration Shares; and

  • (e) confirmation that the terms of the Performance Rights to be issued to the proposed directors are appropriate and equitable in accordance with Listing Rule 6.1.

The waivers referred to above are required in order for the Transaction to proceed.

BOARD INTENTION IF THE TRANSACTION DOES NOT PROCEED

If the Company is not reinstated to official quotation on ASX by 23 May 2021, it will be removed from the Official List in accordance with ASX's policy for the automatic removal of entities suspended from official quotation for a continuous period of 2 years. Accordingly, if the Transaction Resolutions are not passed or if the Transaction is otherwise not completed, the Company will be unable able to re-comply with the admission and quotation requirements of Chapters 1 and 2 of the Listing Rules in order to seek reinstatement prior to 23 May 2021, and will be removed from the Official List (unless an extension is obtained).

This announcement is approved for release by the Board of the Company.

COMPETENT PERSON STATEMENT

The information in this report that relates to the exploration results, of the project owned by Ausco is based on, and fairly represents, information and supporting documentation compiled by Mr Peter Batten, who is a proposed director of the Company and a consultant to Ausco. Mr Peter Batten is a member of the Australasian Institute of Mining and Metallurgy and has sufficient experience relevant to the style of mineralisation and types of deposits under consideration and to the activity which is 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 Batten consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

For further information, please contact:

Oonagh Malone +61 (8) 6142 0986

Page 14

Appendix 1: Pro Forma Balance Sheet – 31 December 2020

Particulars Reviewed Audited Ausco Adjustment 1 Adjustment Adjustment Adjustment Adjustment 5 Adjustment 6 Minimum Pro Maximum Pro
Forma A$
Carbine $A 2 3 4 Forma A$
Resources
Limited A$
Current Assets
Cash assets 1,590,749 72,884 (500,000)1 - (200,000)3 - 2,150,0005 2,620,0006 3,113,633 3,583,633
Trade debtors and
prepayments
6,576 308 - - - - - - 6,884 6,884
Financial assets 880,000 - - 620,0002 - - - - 1,500,000 1,500,000
Other current assets 13,165 - - - - - - - 13,165 13,165
Total Current Assets 2,490,490 73,192 (500,000) 620,000 (200,000) - 2,150,000 2,620,000 4,633,682 5,103,682
Non-Current Assets
Property, plant & equipment 20,771 8,400 - - - - - - 29,171 29,171
Financial assets 50,000 - - - - - - - 50,000 50,000
Exploration & evaluation asset - - 7,378,408 - - - - - 7,378,408 7,378,408
Total Non-Current Assets 70,771 8,400 7,378,408 - - - - - 7,457,579 7,457,579
Total Assets 2,561,261 81,592 6,878,408 620,000 (200,000) - 2,150,000 2,620,000 12,091,261 12,561,261
Current Liabilities
Trade creditors and accruals 23,633 10,000 - - - - - - 33,633 33,633
Total Current Liabilities 23,633 10,000 - - - - - - 33,633 33,633
Total Liabilities 23,633 10,000 - - - - - - 33,633 33,633
Net Assets 2,537,628 71,592 6,878,408 620,000 (200,000) - 2,150,000 2,620,000 12,057,628 12,527,628
Equity
Contributed equity 31,121,482 342,001 5,657,999 - - - 2,150,000 2,620,000 39,271,482 39,741,482
Reserves 2,948,558 4,500 945,500 - - 475,0004 - - 4,373,558 4,373,558
Accumulated losses (31,532,412) (274,909) 274,909 620,000 (200,000) (475,000) - - (31,587,412) (31,587,412)
Total Equity 2,537,628 71,592 6,878,408 620,000 (200,000) - 2,150,000 2,620,000 12,057,628 12,527,628

Notes:

  1. These details have been determined for the purpose of the pro-forma adjustments as at 31 December 2020, and will require re-determination based on the identifiable assets and liabilities as at the successful acquisition date, which may result in changes to the value as disclosed below. Under the Transaction, the Company acquires all the shares in Ausco by issuing 200,000,010 Shares in the Company and 50,000,003 unlisted options with an exercise price of $0.06 and an expiry date 5 years from date of issue. The Company will also pay $500,000 cash to satisfy Ausco creditors who have not been paid. The consideration has been allocated to exploration assets acquired in Ausco. The acquisition of Ausco by the Company is not deemed to be a business combination, as Ausco is not considered to be businesses under AASB 3 Business Combinations.

  2. The Company holds 10 million shares in Boss Energy Ltd (ASX:BOE). The closing price of BOE shares on 17 March 2021 was $0.15 so the carrying value of this investment has been adjusted to reflect the current market value of $1,500,000.

  3. The Company expects to incur approximately $200,000 in working capital between now and re listing on the ASX.

  4. It is proposed that the Company will issue a further 25,000,000 unlisted options with an exercise price of $0.06 and a 5 year expiry date as a facilitation fee. These have been valued using the Black-Scholes option pricing model.

  5. Total minimum capital raise of $2.5 million (less $350,000 being transaction related costs). This consists of 83,333,333 Public Offer Shares at an issue price of $0.03 each.

  6. Total maximum capital raise of $3.0 million (less $380,000 being transaction related costs). This consists of 100,000,000 Public Offer Shares at an issue price of $0.03 each.

Appendix 1: Drilling Information

JORC Code, 2012 Table 1. Muchea West Silica Sand Project

Section 1 Sampling Techniques and Data

Criteria JORC Code exploration 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.

Aircore Vacuum drilling and
sampling was completed in
October 2019.

All sand samples were collected
via a cyclone in a plastic tub and
homogenised, rotary split into a
larger sample bag (~3kg) and 2
smaller 250 subsamples.
Sampling was carried out 1 m
intervals.

One of the subsamples is
prepared for laboratory and the
other is retained for repeat
analysis and QA/QC purposes.
The bulk sample is retained for
later metallurgical test work.
Drilled samples for each 1 m
interval were also placed into
chip trays.

The first meter of all the drill
holes is mainly the humus layer
and not considered for lab
analysis.

The samples were analysed by
Intertek Genalysis Laboratories.

Major and trace elements in
exception to SiO2were analysed
using a four-acid digest followed
by Inductively Coupled Plasma
Optical (Atomic) Emission
Spectrometry (ICP-OES)
analysis.
Drilling
techniques

Drill type (e.g. core, reverse
circulation, openhole hammer,
rotary air blast, auger, Bangka,
sonic, etc) and details (e.g. core
diameter, triple or standard tube,
depth of diamond tails,
facesampling bit or other type,
whether core is oriented and if so,
by what method, etc).

A total of 82 air-core drill holes
were drilled to an average depth
of 10m, with the deepest hole
ending at 20m.

Aircore Vacuum drilling was
undertaken using a track
mounted drill rig. All holes were
drilled vertically.
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.

Each sample bag was weighed
to determine the indirect record
of sample recovery.

All the samples were visually
checked for recovery, moisture
and contamination.

Page 3


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 sample splitter and cyclone
are cleaned regularly to prevent
sample contamination.
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 the holes were logged by a
senior geologist. Sand colour,
roundness, sorting and
composition was recorded.

Logging was qualitative in
nature.

All logged results were plotted in
a plotting software (Strater). All
the Chip tray samples for each
hole were photographed.
Subsampling
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 subsampling 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.

Two sub-samples weighing
~250 g were collected using
rotary split. The remainder was
retained for metallurgical test
work.

Subsample collected from every
2m were composited and
submitted to Intertek Genalysis
Laboratories in Perth for drying
and pulverization in a zircon
bowl and disk pulveriser.

QC procedures involved the use
of certified and non-certified
reference materials and field
duplicates. The field duplicates
have accurately reflected the
original assay.

Sample sizes are considered
appropriate to correctly
represent the bulk tonnage
mineralisation based on the
style of mineralisation, the
thickness and consistency of the
intersections, the sampling
methodology and assay value
ranges for silica sand.
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.

2m composite samples were
submitted to the Intertek
Genalysis Laboratory in Perth.
The assay method for multi-
element analysis consisted of a
four-acid digest including
hydrofluoric, nitric, perchloric
and hydrochloric acids in Teflon
beakers, with inductively
coupled plasma (ICP)-optical
(atomic) emission spectrometry
finish. Silica is reported by
difference.

Page 4


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.

Laboratory QAQC includes the
use of internal standards using
certified reference material,
laboratory duplicates and pulp
repeats. The field duplicates
have accurately reflected the
original assay. Certified
standards have generally
reported within acceptable limits.
A full analysis of all the quality
control data has been
undertaken.

No geophysical tools were
utilised for the exploration.
Location of
data Points

Accuracy and quality of surveys
used to locate drill holes (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

The position of the drill holes
were located using a GPS in
MGA coordinates with the
expected relative accuracy.
Down hole surveys have not
been carried out as drill holes
are less than 20 m in depth and
drilled vertically through the
predominantly flat lying sand
deposits.

The collars have been located in
UTM, MGA94, Zone 50K co-
ordinates.

The topographic surface was
based on LiDAR digital elevation
model obtained from the DWER,
Western Australia.
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 drilling was spread evenly
across the project area. A total
of 82 drill holes were drilled at
nominal 200m spacing on six
drill lines along existing tracks.

The adopted spacing for the
drilling investigation was
sufficient based on the
geological continuity of the sand
formation being tested, and
sufficient to be applied for
resource estimation

All samples were taken at even
1 m intervals, and compositing
of every 2m was required for
assays.
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

The vertical air-core drilling
program has systematically
covered the initial area of
interest within the tenement, It
only covers some section of an
extensive dune system.

The orientation of the drilling
(vertical) is approximately

Page 5

structures is considered to have perpendicular to the subintroduced a sampling bias, this horizontal mineralisation and is should be assessed and reported if unlikely to have introduced any material. significant sampling bias. • No sampling bias has been identified in the data. Sample • The measures taken to ensure • All samples have been bagged security sample security and removed from site and are under the care of the senior geologist and stored at a secure Canning vale storage unit. Audits or • The results of any audits or reviews • There has been no audit or reviews of sampling techniques and data. review of the drilling, sampling or analysis at this time.

Section 2: Reporting of Exploration Results

Criteria JORC Code exploration 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 was completed on
E70/4905, a granted
Exploration Licence. 100%
owned by Australian United
Silica Corporation Pty Ltd. The
tenement area falls within the
Whadjuk People claim
(managed by SWALSC).

No impediments on a licence
to operate at time of reporting.
Exploration
done by other
parties

Acknowledgment and appraisal of
exploration by other parties.

The region surrounding the
Project has been explored for
both silica sand and mineral
sands. Between 1986 and
2005 ACI Operations Pty Ltd
(ACI) owned and operated a
silica sands mine within the
tenure producing 7,000 to
10,000t of silica for container
glass applications.
Geology
Deposit type, geological setting
and style of mineralisation.

The tenement is underlain by
the Bassendean Sand, which
extends over large areas of the
Swan Coastal Plains of the
Perth Basin from about 23 km
north of Jurien, to about 15km
southwest of Busselton.

The Bassendean Sand is
considered to have a
maximum thickness of about
45 m, and the unit is found as
a strip parallel to the coast,
having a width of about 10-20
km, and its western edge
about 5-10km inland.

Page 6


The Bassendean Sands is
typically clean, well-rounded
and well sorted. At depth, it is
commonly brown to dark
brown with high iron contents,
however closer to the surface
the sand is cream/white. The
physical, chemical and
mineralogical characteristics of
the Bassendean Sands can
vary considerably, resulting in
variation in the quality of the
sand regionally as well as
locally. In general, the
Bassendean Sands is covered
with very little or no
overburden.
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
drillholes:
-
-easting and northing of the
drillhole collar
-
elevation or RL (Reduced Level –
elevation above sea level in
metres) of the drillhole 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

All exploration results for
drilling completed during
October 2019 are reported in
this release. The drillhole
locations are presented in
Figure 3.
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 clearly stated.

Weighted average grades
were calculated at a minimum
of 98% SiO2 cut-off grade

Not applicable as a mineral
resource is being reported.

No metal equivalents have
been reported.

Page 7

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
drillhole 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’).

All drill holes are vertical and
intersect the tabular, flat lying
mineralisation orthogonally,
and represent close to true
thickness.
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
drillhole collar locations and
appropriate sectional views.

Relevant diagrams have been
included in this report.
Balance
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 assay results have been
provided in Appendix 2.
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.

Groundwater was intersected
in some holes. Holes were
terminated once encounter
water table.

Groundwater table anticipated
to be within 9 and 11 m bgl in
this area since the intercepted
groundwater table at AUS008
is 9 m bgl.

Particle size distribution was
carried out on ten
representative samples. Tests
were undertaken Jinning
Testing & Inspection, Perth,
WA.
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

Planned to conduct further
drilling in potential target
areas.

Page 8

Appendix 2: Drill-hole information

Hole ID Easting Northing RL Dept
h
Widt
h
Azimuth Dip From To Interval SiO2 % AL2O3 % CaO % Fe2O3 % K2O % MgO % Na2O % TiO2 % LOI %
AUS00
1
399655.
0
6504085.
0
71.01 10 85m
m
0 -90 1 3 2 99.2 0.1601 0.140 0.1137 0.0648 0.0062 0.0097 0.0665 0.24
AUS00
1
399655.
0
6504085.
0
71.01 10 85m
m
0 -90 3 5 2 99.6 0.0859 0.039 0.0889 0.0185 0.0053 0.0067 0.0586 0.12
AUS00
1
399655.
0
6504085.
0
71.01 10 85m
m
0 -90 5 7 2 99.6 0.0532 0.040 0.0484 0.0208 0.0045 0.0068 0.0620 0.12
AUS00
1
399655.
0
6504085.
0
71.01 10 85m
m
0 -90 7 9 2 99.8 0.0237 0.013 0.0332 0.0063 0.0040 0.0056 0.0685 0.08
AUS00
1
399655.
0
6504085.
0
71.01 10 85m
m
0 -90 9 10 1 99.7 0.0379 N/A 0.0636 0.0050 N/A 0.0044 0.0992 0.09
AUS00
1
399655.
0
6504085.
0
71.01 10 85m
m
0 -90 1 10 9 99.6 0.0760 0.052 0.0702 0.0251 0.0044 0.0069 0.0678 0.13
AUS00
2
399491.
0
6503948.
0
70.22 10 85m
m
0 -90 1 3 2 99.7 0.0292 N/A 0.0252 0.0047 N/A 0.0054 0.0508 0.16
AUS00
2
399491.
0
6503948.
0
70.22 10 85m
m
0 -90 3 5 2 99.7 0.0180 N/A 0.0174 0.0042 N/A 0.0052 0.0571 0.14
AUS00
2
399491.
0
6503948.
0
70.22 10 85m
m
0 -90 5 7 2 99.8 0.0173 N/A 0.0189 0.0048 N/A 0.0051 0.0492 0.11
AUS00
2
399491.
0
6503948.
0
70.22 10 85m
m
0 -90 7 9 2 99.8 0.0174 N/A 0.0305 N/A N/A 0.0046 0.0630 0.06
AUS00
2
399491.
0
6503948.
0
70.22 10 85m
m
0 -90 9 10 1 99.8 0.0219 N/A 0.0344 0.0046 N/A 0.0044 0.0723 0.09
AUS00
2
399491.
0
6503948.
0
70.22 10 85m
m
0 -90 1 10 9 99.8 0.0206 N/A 0.0243 0.0036 N/A 0.0050 0.0569 0.11
AUS00
3
399318.
0
6503846.
0
76.84 10 85m
m
0 -90 1 3 2 99.6 0.0362 N/A 0.0348 N/A N/A N/A 0.0449 0.22
AUS00
3
399318.
0
6503846.
0
76.84 10 85m
m
0 -90 3 5 2 99.8 0.0210 N/A 0.0252 N/A N/A N/A 0.0443 0.14
AUS00
3
399318.
0
6503846.
0
76.84 10 85m
m
0 -90 5 7 2 99.8 0.0202 N/A 0.0268 N/A N/A N/A 0.0454 0.11
AUS00
3
399318.
0
6503846.
0
76.84 10 85m
m
0 -90 7 9 2 97.8 0.4860 N/A 0.0452 0.0351 0.0049 0.0069 0.1161 1.47
AUS00
3
399318.
0
6503846.
0
76.84 10 85m
m
0 -90 1 9 8 99.3 0.1409 N/A 0.0330 0.0088 0.0012 0.0017 0.0627 0.49
AUS00
4
399161.
0
6503735.
0
79.12 10 85m
m
0 -90 1 3 2 99.7 0.0329 N/A 0.0230 N/A N/A N/A 0.0350 0.15
AUS00
4
399161.
0
6503735.
0
79.12 10 85m
m
0 -90 3 5 2 99.8 0.0211 N/A 0.0157 N/A N/A N/A 0.0304 0.08
AUS00
4
399161.
0
6503735.
0
79.12 10 85m
m
0 -90 5 7 2 99.8 0.0180 N/A 0.0181 N/A N/A N/A 0.0442 0.08
AUS00
4
399161.
0
6503735.
0
79.12 10 85m
m
0 -90 7 9 2 99.8 0.0167 N/A 0.0262 N/A 0.0073 N/A 0.0491 0.08
AUS00
4
399161.
0
6503735.
0
79.12 10 85m
m
0 -90 9 10 1 99.8 0.0165 N/A 0.0204 N/A N/A 0.0044 0.0325 0.06

Page 9

Hole ID Easting Northing RL Dept
h
Widt
h
Azimuth Dip From To Interval SiO2 % AL2O3 % CaO % Fe2O3 % K2O % MgO % Na2O % TiO2 % LOI %
AUS00
4
399161.
0
6503735.
0
79.12 10 85m
m
0 -90 1 10 9 99.8 0.0215 N/A 0.0207 0.0000 0.0016 0.0005 0.0389 0.09
AUS00
5
398999.
0
6503582.
0
78.11 10 85m
m
0 -90 1 3 2 99.8 0.0315 N/A 0.0253 N/A N/A 0.0043 0.0339 0.07
AUS00
5
398999.
0
6503582.
0
78.11 10 85m
m
0 -90 3 5 2 99.8 0.0250 N/A 0.0224 N/A N/A 0.0042 0.0291 0.10
AUS00
5
398999.
0
6503582.
0
78.11 10 85m
m
0 -90 5 7 2 99.8 0.0202 N/A 0.0170 N/A N/A N/A 0.0349 0.09
AUS00
5
398999.
0
6503582.
0
78.11 10 85m
m
0 -90 7 9 2 99.8 0.0196 N/A 0.0206 N/A N/A N/A 0.0369 0.07
AUS00
5
398999.
0
6503582.
0
78.11 10 85m
m
0 -90 9 10 1 99.5 0.0604 N/A 0.0309 N/A 0.0046 N/A 0.1099 0.31
AUS00
5
398999.
0
6503582.
0
78.11 10 85m
m
0 -90 1 10 9 99.8 0.0281 N/A 0.0224 0.0000 0.0005 0.0019 0.0422 0.11
AUS00
6
398856.
0
6503469.
0
73.21 10 85m
m
0 -90 1 3 2 99.7 0.0418 N/A 0.0691 N/A N/A N/A 0.0342 0.14
AUS00
6
398856.
0
6503469.
0
73.21 10 85m
m
0 -90 3 5 2 99.8 0.0189 N/A 0.0139 N/A N/A N/A 0.0345 0.11
AUS00
6
398856.
0
6503469.
0
73.21 10 85m
m
0 -90 5 7 2 99.8 0.0208 N/A 0.0189 0.0043 N/A N/A 0.0445 0.09
AUS00
6
398856.
0
6503469.
0
73.21 10 85m
m
0 -90 7 9 2 99.8 0.0169 N/A 0.0179 N/A N/A N/A 0.0392 0.11
AUS00
6
398856.
0
6503469.
0
73.21 10 85m
m
0 -90 1 9 8 99.8 0.0246 N/A 0.0300 0.0011 N/A N/A 0.0381 0.11
AUS00
7
398782.
8
6503394.
4
75.18 10 85m
m
0 -90 1 3 2 99.7 0.0692 N/A 0.0389 0.0043 N/A N/A 0.0394 0.14
AUS00
7
398782.
8
6503394.
4
75.18 10 85m
m
0 -90 3 5 2 99.8 0.0503 N/A 0.0263 N/A N/A N/A 0.0359 0.09
AUS00
7
398782.
8
6503394.
4
75.18 10 85m
m
0 -90 5 7 2 99.1 0.0365 N/A 0.0266 N/A N/A N/A 0.0448 0.77
AUS00
7
398782.
8
6503394.
4
75.18 10 85m
m
0 -90 7 9 2 99.8 0.0498 N/A 0.0439 N/A N/A N/A 0.0360 0.10
AUS00
7
398782.
8
6503394.
4
75.18 10 85m
m
0 -90 9 10 1 99.7 0.0459 N/A 0.0367 0.0053 N/A N/A 0.0998 0.09
AUS00
7
398782.
8
6503394.
4
75.18 10 85m
m
0 -90 1 10 9 99.6 0.0508 N/A 0.0342 0.0015 N/A N/A 0.0458 0.25
AUS00
8
398718.
1
6503336.
3
76.09 9 85m
m
0 -90 1 3 2 99.8 0.0307 N/A 0.0153 N/A N/A N/A 0.0484 0.13
AUS00
8
398718.
1
6503336.
3
76.09 9 85m
m
0 -90 3 5 2 99.7 0.0208 N/A 0.0128 N/A N/A N/A 0.0484 0.15
AUS00
8
398718.
1
6503336.
3
76.09 9 85m
m
0 -90 5 7 2 99.8 0.0253 N/A 0.0166 0.0041 N/A N/A 0.0390 0.13
AUS00
8
398718.
1
6503336.
3
76.09 9 85m
m
0 -90 7 9 2 99.7 0.0438 0.019 0.0428 0.0082 N/A 0.0059 0.0537 0.12
AUS00
8
398718.
1
6503336.
3
76.09 9 85m
m
0 -90 1 9 8 99.8 0.0302 0.005 0.0219 0.0031 N/A 0.0015 0.0474 0.13

Page 10

Hole ID Easting Northing RL Dept
h
Widt
h
Azimuth Dip From To Interval SiO2 % AL2O3 % CaO % Fe2O3 % K2O % MgO % Na2O % TiO2 % LOI %
AUS00
9
400412.
0
6501865.
0
68.78 8 85m
m
0 -90 1 3 2 99.6 0.0166 N/A 0.0071 N/A 0.0043 N/A 0.0356 0.30
AUS00
9
400412.
0
6501865.
0
68.78 8 85m
m
0 -90 3 5 2 99.8 0.0156 N/A 0.0079 N/A 0.0044 N/A 0.0293 0.15
AUS00
9
400412.
0
6501865.
0
68.78 8 85m
m
0 -90 5 7 2 99.8 0.0147 N/A 0.0089 N/A N/A N/A 0.0271 0.12
AUS00
9
400412.
0
6501865.
0
68.78 8 85m
m
0 -90 7 8 1 99.7 0.0175 N/A 0.0123 N/A N/A N/A 0.0358 0.18
AUS00
9
400412.
0
6501865.
0
68.78 8 85m
m
0 -90 1 8 7 99.7 0.0159 N/A 0.0086 0.0000 0.0025 N/A 0.0314 0.19
AUS01
0
400204.
0
6501848.
0
73.52 10 85m
m
0 -90 1 3 2 99.8 0.0178 N/A 0.0092 N/A N/A N/A 0.0322 0.11
AUS01
0
400204.
0
6501848.
0
73.52 10 85m
m
0 -90 3 5 2 99.8 0.0169 N/A 0.0139 N/A N/A N/A 0.0356 0.08
AUS01
0
400204.
0
6501848.
0
73.52 10 85m
m
0 -90 5 7 2 99.8 0.0162 N/A 0.0134 N/A N/A N/A 0.0371 0.11
AUS01
0
400204.
0
6501848.
0
73.52 10 85m
m
0 -90 7 9 2 99.9 0.0155 N/A 0.0111 N/A N/A N/A 0.0327 0.04
AUS01
0
400204.
0
6501848.
0
73.52 10 85m
m
0 -90 9 10 1 99.9 0.0149 N/A 0.0113 N/A N/A N/A 0.0295 0.07
AUS01
0
400204.
0
6501848.
0
73.52 10 85m
m
0 -90 1 10 9 99.8 0.0164 N/A 0.0118 N/A N/A N/A 0.0339 0.08
AUS01
1
400023.
0
6501832.
0
74.76 10 85m
m
0 -90 1 3 2 99.8 0.0189 N/A 0.0112 N/A N/A N/A 0.0345 0.16
AUS01
1
400023.
0
6501832.
0
74.76 10 85m
m
0 -90 3 5 2 99.9 0.0163 N/A 0.0095 N/A N/A 0.0041 0.0357 0.04
AUS01
1
400023.
0
6501832.
0
74.76 10 85m
m
0 -90 5 7 2 99.9 0.0153 N/A 0.0111 N/A N/A N/A 0.0407 X
AUS01
1
400023.
0
6501832.
0
74.76 10 85m
m
0 -90 7 9 2 99.9 0.0164 N/A 0.0111 N/A N/A N/A 0.0417 0.06
AUS01
1
400023.
0
6501832.
0
74.76 10 85m
m
0 -90 9 10 1 99.8 0.0187 N/A 0.0234 N/A N/A N/A 0.0787 0.05
AUS01
1
400023.
0
6501832.
0
74.76 10 85m
m
0 -90 1 10 9 99.9 0.0169 N/A 0.0121 0.0000 0.0000 0.0009 0.0427 0.06
AUS01
2
399807.
0
6501806.
0
74.73 10 85m
m
0 -90 1 3 2 99.7 0.0190 N/A 0.0092 N/A 0.0042 N/A 0.0323 0.24
AUS01
2
399807.
0
6501806.
0
74.73 10 85m
m
0 -90 3 5 2 99.8 0.0161 N/A 0.0085 N/A N/A N/A 0.0365 0.14
AUS01
2
399807.
0
6501806.
0
74.73 10 85m
m
0 -90 5 7 2 99.8 0.0161 N/A 0.0103 N/A N/A N/A 0.0340 0.10
AUS01
2
399807.
0
6501806.
0
74.73 10 85m
m
0 -90 7 9 2 99.9 0.0159 N/A 0.0105 N/A N/A N/A 0.0288 0.08
AUS01
2
399807.
0
6501806.
0
74.73 10 85m
m
0 -90 9 10 1 99.8 0.0155 N/A 0.0108 N/A N/A 0.0042 0.0342 0.10

Page 11

Hole ID Easting Northing RL Dept
h
Widt
h
Azimuth Dip From To Interval SiO2 % AL2O3 % CaO % Fe2O3 % K2O % MgO % Na2O % TiO2 % LOI %
AUS01
2
399807.
0
6501806.
0
74.73 10 85m
m
0 -90 1 10 9 99.8 0.0166 N/A 0.0098 N/A 0.0009 0.0005 0.0330 0.14
AUS01
3
399641.
0
6501791.
0
74.89 10 85m
m
0 -90 1 3 2 99.8 0.0190 N/A 0.0115 N/A 0.0111 0.0042 0.0371 0.08
AUS01
3
399641.
0
6501791.
0
74.89 10 85m
m
0 -90 3 5 2 99.9 0.0157 N/A 0.0085 N/A N/A N/A 0.0354 0.05
AUS01
3
399641.
0
6501791.
0
74.89 10 85m
m
0 -90 5 7 2 99.9 0.0156 N/A 0.0078 N/A N/A N/A 0.0294 0.03
AUS01
3
399641.
0
6501791.
0
74.89 10 85m
m
0 -90 7 9 2 99.9 0.0160 N/A 0.0102 N/A N/A N/A 0.0359 0.06
AUS01
3
399641.
0
6501791.
0
74.89 10 85m
m
0 -90 9 10 1 99.8 0.0186 N/A 0.0177 N/A N/A N/A 0.0559 0.07
AUS01
3
399641.
0
6501791.
0
74.89 10 85m
m
0 -90 1 10 9 99.9 0.0168 N/A 0.0104 N/A 0.0025 0.0009 0.0368 0.06
AUS01
4
399435.
0
6501768.
0
74.08 10 85m
m
0 -90 1 3 2 99.8 0.0175 N/A 0.0091 N/A N/A N/A 0.0384 0.09
AUS01
4
399435.
0
6501768.
0
74.08 10 85m
m
0 -90 3 5 2 99.9 0.0158 N/A 0.0081 N/A 0.0109 N/A 0.0332 0.07
AUS01
4
399435.
0
6501768.
0
74.08 10 85m
m
0 -90 5 7 2 99.8 0.0168 N/A 0.0557 N/A N/A N/A 0.0404 0.09
AUS01
4
399435.
0
6501768.
0
74.08 10 85m
m
0 -90 7 9 2 99.9 0.0157 N/A 0.0109 N/A N/A 0.0043 0.0382 0.03
AUS01
4
399435.
0
6501768.
0
74.08 10 85m
m
0 -90 9 10 1 99.9 0.0172 N/A 0.0120 N/A N/A 0.0043 0.0413 0.06
AUS01
4
399435.
0
6501768.
0
74.08 10 85m
m
0 -90 1 10 9 99.9 0.0165 N/A 0.0200 N/A 0.0024 0.0014 0.0380 0.07
AUS01
5
399204.
0
6501746.
0
75.84 10 85m
m
0 -90 1 3 2 99.8 0.0250 N/A 0.0119 0.0041 0.0071 0.0069 0.0402 0.07
AUS01
5
399204.
0
6501746.
0
75.84 10 85m
m
0 -90 3 5 2 99.9 0.0170 N/A 0.0145 N/A N/A 0.0042 0.0428 0.03
AUS01
5
399204.
0
6501746.
0
75.84 10 85m
m
0 -90 5 7 2 99.9 0.0157 N/A 0.0071 N/A N/A 0.0040 0.0307 0.07
AUS01
5
399204.
0
6501746.
0
75.84 10 85m
m
0 -90 7 9 2 99.9 0.0161 N/A 0.0125 N/A N/A 0.0044 0.0362 0.03
AUS01
5
399204.
0
6501746.
0
75.84 10 85m
m
0 -90 9 10 1 99.8 0.0175 N/A 0.0163 N/A N/A 0.0048 0.0484 0.07
AUS01
5
399204.
0
6501746.
0
75.84 10 85m
m
0 -90 1 10 9 99.9 0.0183 0 0.0120 0.0009 0.0016 0.0049 0.0387 0.05
AUS01
6
399013.
0
6501728.
0
71.38 10 85m
m
0 -90 1 3 2 99.8 0.0201 N/A 0.0103 N/A N/A 0.0043 0.0408 0.12
AUS01
6
399013.
0
6501728.
0
71.38 10 85m
m
0 -90 3 5 2 99.7 0.0178 N/A 0.0126 N/A N/A 0.0046 0.0413 0.17
AUS01
6
399013.
0
6501728.
0
71.38 10 85m
m
0 -90 5 7 2 99.8 0.0179 N/A 0.0125 N/A N/A 0.0043 0.0437 0.14
AUS01
6
399013.
0
6501728.
0
71.38 10 85m
m
0 -90 7 9 2 99.8 0.0174 N/A 0.0147 N/A N/A 0.0044 0.0588 0.08

Page 12

Hole ID Easting Northing RL Dept
h
Widt
h
Azimuth Dip From To Interval SiO2 % AL2O3 % CaO % Fe2O3 % K2O % MgO % Na2O % TiO2 % LOI %
AUS01
6
399013.
0
6501728.
0
71.38 10 85m
m
0 -90 9 10 1 99.7 0.0192 N/A 0.0327 N/A N/A 0.0045 0.1245 0.08
AUS01
6
399013.
0
6501728.
0
71.38 10 85m
m
0 -90 1 10 9 99.8 0.0184 0 0.0148 N/A N/A 0.0044 0.0549 0.12
AUS01
7
398639.
0
6501690.
0
84.54 10 85m
m
0 -90 1 3 2 99.8 0.0185 N/A 0.0112 N/A N/A 0.0059 0.0449 0.11
AUS01
7
398639.
0
6501690.
0
84.54 10 85m
m
0 -90 3 5 2 99.9 0.0174 N/A 0.0115 N/A N/A N/A 0.0343 0.06
AUS01
7
398639.
0
6501690.
0
84.54 10 85m
m
0 -90 5 7 2 99.9 0.0174 N/A 0.0120 N/A 0.0047 0.0041 0.0273 0.05
AUS01
7
398639.
0
6501690.
0
84.54 10 85m
m
0 -90 7 9 2 99.8 0.0180 N/A 0.0102 N/A N/A 0.0040 0.0289 0.13
AUS01
7
398639.
0
6501690.
0
84.54 10 85m
m
0 -90 9 10 1 99.9 0.0176 N/A 0.0139 N/A N/A N/A 0.0261 0.03
AUS01
7
398639.
0
6501690.
0
84.54 10 85m
m
0 -90 1 10 9 99.9 0.0178 N/A 0.0115 N/A 0.0010 0.0031 0.0330 0.08
AUS01
8
398385.
0
6501664.
0
79.61 10 85m
m
0 -90 1 3 2 99.8 0.0283 N/A 0.0102 N/A N/A 0.0042 0.0439 0.14
AUS01
8
398385.
0
6501664.
0
79.61 10 85m
m
0 -90 3 5 2 99.8 0.0260 N/A 0.0120 N/A N/A N/A 0.0408 0.12
AUS01
8
398385.
0
6501664.
0
79.61 10 85m
m
0 -90 5 7 2 99.8 0.0230 N/A 0.0118 N/A N/A 0.0040 0.0319 0.08
AUS01
8
398385.
0
6501664.
0
79.61 10 85m
m
0 -90 7 9 2 99.8 0.0239 N/A 0.0141 N/A N/A 0.0043 0.0458 0.10
AUS01
8
398385.
0
6501664.
0
79.61 10 85m
m
0 -90 9 10 1 99.8 0.0199 N/A 0.0153 N/A N/A 0.0041 0.0768 0.03
AUS01
8
398385.
0
6501664.
0
79.61 10 85m
m
0 -90 1 10 9 99.8 0.0247 N/A 0.0124 N/A N/A 0.0032 0.0446 0.10
AUS01
9
398221.
0
6501646.
0
74.6 10 85m
m
0 -90 1 3 2 99.8 0.0249 N/A 0.0140 N/A N/A N/A 0.0578 0.11
AUS01
9
398221.
0
6501646.
0
74.6 10 85m
m
0 -90 3 5 2 99.8 0.0304 N/A 0.0208 N/A N/A N/A 0.0638 0.10
AUS01
9
398221.
0
6501646.
0
74.6 10 85m
m
0 -90 5 7 2 99.7 0.0226 N/A 0.0346 N/A N/A 0.0049 0.0960 0.10
AUS01
9
398221.
0
6501646.
0
74.6 10 85m
m
0 -90 1 7 6 99.8 0.0260 N/A 0.0231 N/A N/A 0.0016 0.0725 0.10
AUS02
0
398029.
0
6501627.
0
78.43 10 85m
m
0 -90 1 3 2 99.8 0.0221 N/A 0.0132 N/A N/A N/A 0.0461 0.09
AUS02
0
398029.
0
6501627.
0
78.43 10 85m
m
0 -90 3 5 2 99.7 0.0197 N/A 0.0202 N/A N/A N/A 0.0852 0.12
AUS02
0
398029.
0
6501627.
0
78.43 10 85m
m
0 -90 5 7 2 99.8 0.0194 N/A 0.0305 N/A N/A 0.0041 0.1022 0.07
AUS02
0
398029.
0
6501627.
0
78.43 10 85m
m
0 -90 7 9 2 99.8 0.0178 N/A 0.0140 N/A N/A N/A 0.0501 0.07
AUS02
0
398029.
0
6501627.
0
78.43 10 85m
m
0 -90 1 9 8 99.8 0.0198 N/A 0.0195 N/A N/A 0.0010 0.0709 0.09

Page 13

Hole ID Easting Northing RL Dept
h
Widt
h
Azimuth Dip From To Interval SiO2 % AL2O3 % CaO % Fe2O3 % K2O % MgO % Na2O % TiO2 % LOI %
AUS02
1
397833.
0
6501606.
0
77.71 10 85m
m
0 -90 1 3 2 99.7 0.0376 N/A 0.0078 N/A N/A N/A 0.0367 0.19
AUS02
1
397833.
0
6501606.
0
77.71 10 85m
m
0 -90 3 5 2 99.7 0.0244 N/A 0.0096 N/A N/A N/A 0.0423 0.21
AUS02
1
397833.
0
6501606.
0
77.71 10 85m
m
0 -90 5 7 2 99.8 0.0209 N/A 0.0164 N/A N/A N/A 0.0590 0.08
AUS02
1
397833.
0
6501606.
0
77.71 10 85m
m
0 -90 7 9 2 99.8 0.0214 N/A 0.0257 N/A N/A N/A 0.0907 0.06
AUS02
1
397833.
0
6501606.
0
77.71 10 85m
m
0 -90 1 9 8 99.8 0.0261 N/A 0.0149 N/A N/A N/A 0.0572 0.14
AUS02
2
397638.
0
6501584.
0
77.39 9 85m
m
0 -90 1 3 2 99.8 0.0187 N/A 0.0097 N/A N/A N/A 0.0447 0.13
AUS02
2
397638.
0
6501584.
0
77.39 9 85m
m
0 -90 3 5 2 99.8 0.0176 N/A 0.0185 N/A N/A N/A 0.0597 0.08
AUS02
2
397638.
0
6501584.
0
77.39 9 85m
m
0 -90 5 7 2 99.8 0.0169 N/A 0.0183 N/A N/A N/A 0.0541 0.08
AUS02
2
397638.
0
6501584.
0
77.39 9 85m
m
0 -90 1 7 6 99.8 0.0177 N/A 0.0155 N/A N/A N/A 0.0528 0.10
AUS02
3
397417.
0
6501566.
0
79.29 10 85m
m
0 -90 1 3 2 99.8 0.0194 N/A 0.0139 N/A N/A N/A 0.0541 0.07
AUS02
3
397417.
0
6501566.
0
79.29 10 85m
m
0 -90 3 5 2 99.7 0.0198 N/A 0.0226 N/A N/A N/A 0.0863 0.14
AUS02
3
397417.
0
6501566.
0
79.29 10 85m
m
0 -90 5 7 2 99.8 0.0173 N/A 0.0133 N/A N/A N/A 0.0499 0.08
AUS02
3
397417.
0
6501566.
0
79.29 10 85m
m
0 -90 7 9 2 99.8 0.0178 N/A 0.0123 N/A N/A N/A 0.0444 0.07
AUS02
3
397417.
0
6501566.
0
79.29 10 85m
m
0 -90 1 9 8 99.8 0.0186 N/A 0.0155 N/A N/A N/A 0.0587 0.09
AUS02
4
397246.
0
6501546.
0
79.22 10 85m
m
0 -90 1 3 2 99.8 0.0199 N/A 0.0121 N/A N/A N/A 0.0577 0.10
AUS02
4
397246.
0
6501546.
0
79.22 10 85m
m
0 -90 3 5 2 99.8 0.0186 N/A 0.0149 N/A N/A N/A 0.0664 0.07
AUS02
4
397246.
0
6501546.
0
79.22 10 85m
m
0 -90 5 7 2 99.8 0.0189 N/A 0.0292 N/A N/A N/A 0.0864 0.09
AUS02
4
397246.
0
6501546.
0
79.22 10 85m
m
0 -90 7 9 2 99.8 0.0169 N/A 0.0159 N/A N/A N/A 0.0425 0.06
AUS02
4
397246.
0
6501546.
0
79.22 10 85m
m
0 -90 9 10 1 99.8 0.0231 N/A 0.0188 0.0051 N/A 0.0046 0.0596 0.08
AUS02
4
397246.
0
6501546.
0
79.22 10 85m
m
0 -90 1 10 9 99.8 0.0191 N/A 0.0181 0.0006 N/A 0.0005 0.0628 0.08
AUS02
5
397046.
0
6501527.
0
78.78 10 85m
m
0 -90 1 3 2 99.7 0.0198 N/A 0.0107 N/A N/A N/A 0.0405 0.17
AUS02
5
397046.
0
6501527.
0
78.78 10 85m
m
0 -90 3 5 2 99.8 0.0186 N/A 0.0086 N/A N/A 0.0042 0.0381 0.10
AUS02
5
397046.
0
6501527.
0
78.78 10 85m
m
0 -90 5 7 2 99.8 0.0180 N/A 0.0078 N/A N/A N/A 0.0380 0.12
AUS02
5
397046.
0
6501527.
0
78.78 10 85m
m
0 -90 7 9 2 99.8 0.0177 N/A 0.0145 N/A N/A N/A 0.0777 0.08

Page 14

Hole ID Easting Northing RL Dept
h
Widt
h
Azimuth Dip From To Interval SiO2 % AL2O3 % CaO % Fe2O3 % K2O % MgO % Na2O % TiO2 % LOI %
AUS02
5
397046.
0
6501527.
0
78.78 10 85m
m
0 -90 9 10 1 99.7 0.0206 N/A 0.0348 N/A N/A N/A 0.1160 0.10
AUS02
5
397046.
0
6501527.
0
78.78 10 85m
m
0 -90 1 10 9 99.8 0.0188 0 0.0131 N/A N/A 0.0009 0.0561 0.12
AUS02
6
396854.
0
6501509.
0
81.39 10 85m
m
0 -90 1 3 2 99.8 0.0205 N/A 0.0147 N/A N/A N/A 0.0445 0.13
AUS02
6
396854.
0
6501509.
0
81.39 10 85m
m
0 -90 3 5 2 99.8 0.0128 N/A 0.0061 N/A N/A N/A 0.0232 0.13
AUS02
6
396854.
0
6501509.
0
81.39 10 85m
m
0 -90 5 7 2 99.8 0.0212 N/A 0.0091 N/A N/A 0.0040 0.0311 0.10
AUS02
6
396854.
0
6501509.
0
81.39 10 85m
m
0 -90 7 9 2 99.8 0.0175 N/A 0.0109 N/A N/A N/A 0.0466 0.07
AUS02
6
396854.
0
6501509.
0
81.39 10 85m
m
0 -90 9 10 1 99.8 0.0195 N/A 0.0324 N/A N/A N/A 0.0860 0.09
AUS02
6
396854.
0
6501509.
0
81.39 10 85m
m
0 -90 1 10 9 99.8 0.0182 N/A 0.0127 N/A N/A 0.0009 0.0419 0.11
AUS02
7
396633.
0
6501487.
0
83.17 10 85m
m
0 -90 1 3 2 99.8 N/A N/A 0.0027 N/A N/A N/A 0.0060 0.14
AUS02
7
396633.
0
6501487.
0
83.17 10 85m
m
0 -90 3 5 2 99.8 0.0189 N/A 0.0084 N/A N/A N/A 0.0403 0.12
AUS02
7
396633.
0
6501487.
0
83.17 10 85m
m
0 -90 5 7 2 99.8 0.0188 N/A 0.0095 N/A N/A N/A 0.0371 0.09
AUS02
7
396633.
0
6501487.
0
83.17 10 85m
m
0 -90 7 9 2 99.8 0.0203 N/A 0.0166 N/A N/A N/A 0.0724 0.11
AUS02
7
396633.
0
6501487.
0
83.17 10 85m
m
0 -90 9 10 1 99.7 0.0223 N/A 0.0327 N/A N/A N/A 0.1301 0.11
AUS02
7
396633.
0
6501487.
0
83.17 10 85m
m
0 -90 1 10 9 99.8 0.0154 N/A 0.0119 N/A N/A N/A 0.0491 0.11
AUS02
8
396438.
0
6501471.
0
88.83 10 85m
m
0 -90 1 3 2 99.7 0.0209 N/A 0.0086 N/A N/A N/A 0.0373 0.19
AUS02
8
396438.
0
6501471.
0
88.83 10 85m
m
0 -90 3 5 2 99.8 0.0185 N/A 0.0117 N/A N/A N/A 0.0371 0.12
AUS02
8
396438.
0
6501471.
0
88.83 10 85m
m
0 -90 5 7 2 99.8 0.0175 N/A 0.0070 N/A N/A N/A 0.0294 0.11
AUS02
8
396438.
0
6501471.
0
88.83 10 85m
m
0 -90 7 9 2 99.8 0.0194 N/A 0.0095 N/A N/A N/A 0.0386 0.10
AUS02
8
396438.
0
6501471.
0
88.83 10 85m
m
0 -90 9 10 1 99.8 0.0187 N/A 0.0145 N/A N/A N/A 0.0697 0.07
AUS02
8
396438.
0
6501471.
0
88.83 10 85m
m
0 -90 1 10 9 99.8 0.0190 N/A 0.0098 N/A N/A N/A 0.0394 0.12
AUS02
9
396230.
0
6501450.
0
90.22 10 85m
m
0 -90 1 3 2 99.7 0.0232 N/A 0.0110 N/A 0.0044 N/A 0.0392 0.18
AUS02
9
396230.
0
6501450.
0
90.22 10 85m
m
0 -90 3 5 2 99.8 0.0200 N/A 0.0079 N/A N/A N/A 0.0373 0.13
AUS02
9
396230.
0
6501450.
0
90.22 10 85m
m
0 -90 5 7 2 99.8 0.0219 N/A 0.0072 N/A N/A N/A 0.0281 0.11

Page 15

Hole ID Easting Northing RL Dept
h
Widt
h
Azimuth Dip From To Interval SiO2 % AL2O3 % CaO % Fe2O3 % K2O % MgO % Na2O % TiO2 % LOI %
AUS02
9
396230.
0
6501450.
0
90.22 10 85m
m
0 -90 7 9 2 99.8 0.0237 N/A 0.0115 N/A N/A N/A 0.0306 0.11
AUS02
9
396230.
0
6501450.
0
90.22 10 85m
m
0 -90 9 10 1 99.8 0.0273 N/A 0.0093 N/A N/A N/A 0.0353 0.12
AUS02
9
396230.
0
6501450.
0
90.22 10 85m
m
0 -90 1 10 9 99.8 0.0228 N/A 0.0094 N/A 0.0010 N/A 0.0340 0.13
AUS03
0
396033.
0
6501426.
0
86.04 10 85m
m
0 -90 1 3 2 99.7 0.0289 N/A 0.0077 N/A N/A N/A 0.0450 0.17
AUS03
0
396033.
0
6501426.
0
86.04 10 85m
m
0 -90 3 5 2 99.8 0.0258 N/A 0.0092 N/A N/A N/A 0.0442 0.14
AUS03
0
396033.
0
6501426.
0
86.04 10 85m
m
0 -90 5 7 2 99.7 0.0291 N/A 0.0133 N/A N/A N/A 0.0597 0.15
AUS03
0
396033.
0
6501426.
0
86.04 10 85m
m
0 -90 7 9 2 99.7 0.0336 N/A 0.0214 N/A N/A 0.0056 0.0667 0.12
AUS03
0
396033.
0
6501426.
0
86.04 10 85m
m
0 -90 9 10 1 99.8 0.0209 N/A 0.0193 N/A N/A N/A 0.0622 0.09
AUS03
0
396033.
0
6501426.
0
86.04 10 85m
m
0 -90 1 10 9 99.7 0.0284 N/A 0.0136 N/A N/A 0.0012 0.0548 0.14
AUS03
1
395844.
0
6501409.
0
80.38 9 85m
m
0 -90 1 3 2 99.8 0.0332 N/A 0.0094 N/A N/A N/A 0.0618 0.10
AUS03
1
395844.
0
6501409.
0
80.38 9 85m
m
0 -90 3 5 2 99.8 0.0224 N/A 0.0108 N/A N/A N/A 0.0721 0.07
AUS03
1
395844.
0
6501409.
0
80.38 9 85m
m
0 -90 5 7 2 99.8 0.0204 N/A 0.0109 N/A N/A N/A 0.0495 0.07
AUS03
1
395844.
0
6501409.
0
80.38 9 85m
m
0 -90 1 7 6 99.8 0.0253 N/A 0.0104 N/A N/A N/A 0.0611 0.08
AUS03
2
395706.
5
6501395.
4
77.62 9 85m
m
0 -90 1 3 2 99.7 0.0197 N/A 0.0130 N/A N/A N/A 0.0933 0.20
AUS03
2
395706.
5
6501395.
4
77.62 9 85m
m
0 -90 3 5 2 99.7 0.0199 N/A 0.0156 N/A N/A 0.0041 0.0884 0.20
AUS03
2
395706.
5
6501395.
4
77.62 9 85m
m
0 -90 5 6 1 99.8 0.0204 N/A 0.0206 N/A N/A N/A 0.0783 0.08
AUS03
2
395706.
5
6501395.
4
77.62 9 85m
m
0 -90 1 6 5 99.7 0.0199 N/A 0.0156 N/A N/A 0.0016 0.0883 0.18
AUS03
3
395234.
1
6501959.
3
84.98 10 85m
m
0 -90 1 3 2 99.7 0.0204 N/A 0.0105 N/A 0.0047 N/A 0.0451 0.20
AUS03
3
395234.
1
6501959.
3
84.98 10 85m
m
0 -90 3 5 2 99.8 0.0174 N/A 0.0088 N/A N/A N/A 0.0465 0.09
AUS03
3
395234.
1
6501959.
3
84.98 10 85m
m
0 -90 5 7 2 99.9 0.0178 N/A 0.0101 N/A N/A N/A 0.0524 0.05
AUS03
3
395234.
1
6501959.
3
84.98 10 85m
m
0 -90 7 9 2 99.9 0.0192 N/A 0.0184 N/A N/A N/A 0.0660 0.03
AUS03
3
395234.
1
6501959.
3
84.98 10 85m
m
0 -90 9 10 1 99.8 0.0196 N/A 0.0328 N/A N/A N/A 0.1024 0.02
AUS03
3
395234.
1
6501959.
3
84.98 10 85m
m
0 -90 1 10 9 99.8 0.0188 N/A 0.0143 N/A 0.0010 N/A 0.0580 0.08

Page 16

Hole ID Easting Northing RL Dept
h
Widt
h
Azimuth Dip From To Interval SiO2 % AL2O3 % CaO % Fe2O3 % K2O % MgO % Na2O % TiO2 % LOI %
AUS03
4
395232.
8
6502010.
5
85.24 10 85m
m
0 -90 1 3 2 99.8 0.0191 N/A 0.0098 N/A N/A N/A 0.0413 0.09
AUS03
4
395232.
8
6502010.
5
85.24 10 85m
m
0 -90 3 5 2 99.8 0.0186 N/A 0.0138 N/A N/A N/A 0.0465 0.10
AUS03
4
395232.
8
6502010.
5
85.24 10 85m
m
0 -90 5 7 2 99.8 0.0199 N/A 0.0154 N/A N/A N/A 0.0538 0.06
AUS03
4
395232.
8
6502010.
5
85.24 10 85m
m
0 -90 7 9 2 99.9 0.0186 N/A 0.0131 N/A N/A N/A 0.0579 0.04
AUS03
4
395232.
8
6502010.
5
85.24 10 85m
m
0 -90 9 10 1 99.8 0.0191 N/A 0.0258 N/A N/A 0.0042 0.0849 0.02
AUS03
4
395232.
8
6502010.
5
85.24 10 85m
m
0 -90 1 10 9 99.8 0.0191 N/A 0.0144 N/A N/A 0.0005 0.0538 0.07
AUS03
5
395233.
0
6502168.
0
90.69 10 85m
m
0 -90 1 3 2 99.8 0.0220 N/A 0.0124 N/A N/A N/A 0.0388 0.07
AUS03
5
395233.
0
6502168.
0
90.69 10 85m
m
0 -90 3 5 2 99.9 0.0209 N/A 0.0177 N/A N/A N/A 0.0377 0.03
AUS03
5
395233.
0
6502168.
0
90.69 10 85m
m
0 -90 5 7 2 99.8 0.0221 N/A 0.0181 N/A N/A 0.0041 0.0323 0.06
AUS03
5
395233.
0
6502168.
0
90.69 10 85m
m
0 -90 7 9 2 99.8 0.0204 N/A 0.0127 N/A N/A N/A 0.0392 0.10
AUS03
5
395233.
0
6502168.
0
90.69 10 85m
m
0 -90 9 10 1 99.8 0.0194 N/A 0.0156 N/A N/A N/A 0.0587 0.07
AUS03
5
395233.
0
6502168.
0
90.69 10 85m
m
0 -90 1 10 9 99.8 0.0211 0 0.0153 N/A N/A 0.0009 0.0394 0.07
AUS03
6
395236.
0
6502360.
0
88.44 10 85m
m
0 -90 1 3 2 99.8 0.0234 N/A 0.0097 N/A N/A N/A 0.0467 0.13
AUS03
6
395236.
0
6502360.
0
88.44 10 85m
m
0 -90 3 5 2 99.7 0.0193 N/A 0.0724 N/A N/A N/A 0.0432 0.10
AUS03
6
395236.
0
6502360.
0
88.44 10 85m
m
0 -90 5 7 2 99.8 0.0195 N/A 0.0088 N/A N/A N/A 0.0388 0.09
AUS03
6
395236.
0
6502360.
0
88.44 10 85m
m
0 -90 7 9 2 99.8 0.0240 N/A 0.0136 N/A N/A N/A 0.0503 0.12
AUS03
6
395236.
0
6502360.
0
88.44 10 85m
m
0 -90 9 10 1 99.8 0.0193 N/A 0.0106 N/A N/A N/A 0.0524 0.08
AUS03
6
395236.
0
6502360.
0
88.44 10 85m
m
0 -90 1 10 9 99.8 0.0213 N/A 0.0244 N/A N/A N/A 0.0456 0.11
AUS03
7
395234.
0
6502542.
0
83.03 8 85m
m
0 -90 1 3 2 99.7 0.0238 N/A 0.0095 N/A N/A N/A 0.0580 0.23
AUS03
7
395234.
0
6502542.
0
83.03 8 85m
m
0 -90 3 5 2 99.7 0.0211 N/A 0.0155 N/A 0.0042 N/A 0.0798 0.20
AUS03
7
395234.
0
6502542.
0
83.03 8 85m
m
0 -90 5 7 2 99.8 0.0228 N/A 0.0137 N/A N/A N/A 0.0531 0.10
AUS03
7
395234.
0
6502542.
0
83.03 8 85m
m
0 -90 1 7 6 99.7 0.0226 0 0.0129 N/A 0.0014 N/A 0.0636 0.18
AUS03
8
395231.
0
6502750.
0
81.91 9 85m
m
0 -90 1 3 2 99.7 0.0207 N/A 0.0103 N/A N/A N/A 0.0568 0.16
AUS03
8
395231.
0
6502750.
0
81.91 9 85m
m
0 -90 3 5 2 99.8 0.0184 N/A 0.0083 N/A N/A N/A 0.0444 0.10

Page 17

Hole ID Easting Northing RL Dept
h
Widt
h
Azimuth Dip From To Interval SiO2 % AL2O3 % CaO % Fe2O3 % K2O % MgO % Na2O % TiO2 % LOI %
AUS03
8
395231.
0
6502750.
0
81.91 9 85m
m
0 -90 5 7 2 99.8 0.0195 N/A 0.0124 N/A N/A N/A 0.0484 0.11
AUS03
8
395231.
0
6502750.
0
81.91 9 85m
m
0 -90 1 7 6 99.8 0.0195 N/A 0.0103 N/A N/A N/A 0.0499 0.12
AUS03
9
395229.
0
6502991.
0
86.46 10 85m
m
0 -90 1 3 2 99.7 0.0292 N/A 0.0088 N/A N/A N/A 0.0416 0.16
AUS03
9
395229.
0
6502991.
0
86.46 10 85m
m
0 -90 3 5 2 99.8 0.0226 N/A 0.0095 N/A N/A N/A 0.0368 0.10
AUS03
9
395229.
0
6502991.
0
86.46 10 85m
m
0 -90 5 7 2 99.8 0.0213 N/A 0.0100 N/A N/A N/A 0.0457 0.13
AUS03
9
395229.
0
6502991.
0
86.46 10 85m
m
0 -90 7 9 2 99.8 0.0209 N/A 0.0142 N/A N/A N/A 0.0492 0.06
AUS03
9
395229.
0
6502991.
0
86.46 10 85m
m
0 -90 9 10 1 99.8 0.0250 N/A 0.0246 N/A N/A N/A 0.0728 0.09
AUS03
9
395229.
0
6502991.
0
86.46 10 85m
m
0 -90 1 10 9 99.8 0.0237 N/A 0.0122 N/A N/A N/A 0.0466 0.11
AUS04
0
395229.
0
6503176.
0
88.48 10 85m
m
0 -90 1 3 2 99.7 0.0382 N/A 0.0292 N/A 0.0041 N/A 0.0482 0.16
AUS04
0
395229.
0
6503176.
0
88.48 10 85m
m
0 -90 3 5 2 99.8 0.0376 N/A 0.0077 N/A N/A N/A 0.0357 0.09
AUS04
0
395229.
0
6503176.
0
88.48 10 85m
m
0 -90 5 7 2 99.8 0.0403 N/A 0.0129 N/A N/A N/A 0.0352 0.09
AUS04
0
395229.
0
6503176.
0
88.48 10 85m
m
0 -90 7 9 2 99.8 0.0314 N/A 0.0116 N/A N/A N/A 0.0458 0.09
AUS04
0
395229.
0
6503176.
0
88.48 10 85m
m
0 -90 9 10 1 99.8 0.0206 N/A 0.0158 N/A N/A N/A 0.0548 0.07
AUS04
0
395229.
0
6503176.
0
88.48 10 85m
m
0 -90 1 10 9 99.8 0.0351 N/A 0.0154 N/A 0.0009 N/A 0.0427 0.10
AUS04
1
395224.
0
6503392.
0
83.09 10 85m
m
0 -90 1 3 2 99.5 0.0247 N/A 0.0128 N/A 0.0041 N/A 0.0591 0.37
AUS04
1
395224.
0
6503392.
0
83.09 10 85m
m
0 -90 3 5 2 99.7 0.0207 N/A 0.0126 N/A N/A N/A 0.0578 0.15
AUS04
1
395224.
0
6503392.
0
83.09 10 85m
m
0 -90 5 7 2 99.8 0.0226 N/A 0.0187 N/A N/A N/A 0.0510 0.11
AUS04
1
395224.
0
6503392.
0
83.09 10 85m
m
0 -90 1 7 6 99.7 0.0227 N/A 0.0147 N/A 0.0014 N/A 0.0560 0.21
AUS04
2
395221.
0
6503594.
0
80.32 10 85m
m
0 -90 1 3 2 99.7 0.0315 N/A 0.0234 N/A 0.0042 N/A 0.1039 0.17
AUS04
2
395221.
0
6503594.
0
80.32 10 85m
m
0 -90 3 4 1 94.6 2.1478 N/A 0.0536 0.0949 0.0048 0.0112 0.1629 2.91
AUS04
2
395221.
0
6503594.
0
80.32 10 85m
m
0 -90 1 4 3 98 0.7369 0 0.0335 0.0316 0.0044 0.0037 0.1236 1.08
AUS04
3
395219.
0
6503790.
0
95.28 10 85m
m
0 -90 1 3 2 99.7 0.0228 N/A 0.0139 N/A 0.0044 N/A 0.0474 0.17
AUS04
3
395219.
0
6503790.
0
95.28 10 85m
m
0 -90 3 5 2 99.8 0.0273 N/A 0.0106 N/A N/A N/A 0.0374 0.14

Page 18

Hole ID Easting Northing RL Dept
h
Widt
h
Azimuth Dip From To Interval SiO2 % AL2O3 % CaO % Fe2O3 % K2O % MgO % Na2O % TiO2 % LOI %
AUS04
3
395219.
0
6503790.
0
95.28 10 85m
m
0 -90 5 7 2 99.8 0.0171 N/A 0.0105 N/A N/A N/A 0.0352 0.08
AUS04
3
395219.
0
6503790.
0
95.28 10 85m
m
0 -90 7 9 2 99.9 0.0167 N/A 0.0128 N/A N/A N/A 0.0310 0.03
AUS04
3
395219.
0
6503790.
0
95.28 10 85m
m
0 -90 9 10 1 99.8 0.0168 N/A 0.0183 N/A N/A N/A 0.0345 0.07
AUS04
3
395219.
0
6503790.
0
95.28 10 85m
m
0 -90 1 10 9 99.8 0.0205 N/A 0.0127 N/A 0.0010 N/A 0.0374 0.10
AUS04
4
395219.
0
6503981.
0
112.8
7
20 85m
m
0 -90 1 3 2 99.7 0.0245 N/A 0.0142 N/A 0.0046 0.0069 0.0428 0.19
AUS04
4
395219.
0
6503981.
0
112.8
7
20 85m
m
0 -90 3 5 2 99.8 0.0220 N/A 0.0128 N/A N/A 0.0067 0.0385 0.12
AUS04
4
395219.
0
6503981.
0
112.8
7
20 85m
m
0 -90 5 7 2 99.8 0.0403 N/A 0.0161 N/A 0.0041 0.0066 0.0318 0.13
AUS04
4
395219.
0
6503981.
0
112.8
7
20 85m
m
0 -90 7 9 2 99.7 0.0206 N/A 0.1956 N/A N/A 0.0066 0.0341 0.03
AUS04
4
395219.
0
6503981.
0
112.8
7
20 85m
m
0 -90 9 11 2 99.8 0.0276 N/A 0.0304 N/A 0.0051 0.0068 0.0464 0.07
AUS04
4
395219.
0
6503981.
0
112.8
7
20 85m
m
0 -90 11 13 2 99.8 0.0318 N/A 0.0298 N/A N/A 0.0093 0.0535 0.10
AUS04
4
395219.
0
6503981.
0
112.8
7
20 85m
m
0 -90 13 15 2 99.7 0.0788 N/A 0.0354 N/A 0.0052 0.0058 0.0546 0.16
AUS04
4
395219.
0
6503981.
0
112.8
7
20 85m
m
0 -90 15 17 2 99.7 0.0897 N/A 0.0413 N/A 0.0045 0.0068 0.0486 0.10
AUS04
4
395219.
0
6503981.
0
112.8
7
20 85m
m
0 -90 17 19 2 99.7 0.0709 N/A 0.0355 N/A 0.0046 0.0068 0.0405 0.11
AUS04
4
395219.
0
6503981.
0
112.8
7
20 85m
m
0 -90 19 20 1 99.7 0.0888 N/A 0.0317 N/A 0.0043 0.0061 0.0443 0.08
AUS04
4
395219.
0
6503981.
0
112.8
7
20 85m
m
0 -90 1 20 19 99.7 0.0474 N/A 0.0449 N/A 0.0032 0.0069 0.0435 0.11
AUS04
5
395216.
0
6504197.
0
98.95 10 85m
m
0 -90 1 3 2 99.7 0.0248 N/A 0.0186 N/A 0.0043 0.0060 0.0561 0.14
AUS04
5
395216.
0
6504197.
0
98.95 10 85m
m
0 -90 3 5 2 99.7 0.0480 N/A 0.0150 N/A N/A 0.0060 0.0436 0.18
AUS04
5
395216.
0
6504197.
0
98.95 10 85m
m
0 -90 5 7 2 99.8 0.0210 N/A 0.0139 N/A N/A 0.0058 0.0351 0.09
AUS04
5
395216.
0
6504197.
0
98.95 10 85m
m
0 -90 7 9 2 99.8 0.0197 N/A 0.0147 N/A N/A 0.0050 0.0364 0.12
AUS04
5
395216.
0
6504197.
0
98.95 10 85m
m
0 -90 9 10 1 99.9 0.0189 N/A 0.0146 N/A N/A 0.0058 0.0390 0.03
AUS04
5
395216.
0
6504197.
0
98.95 10 85m
m
0 -90 1 10 9 99.8 0.0273 N/A 0.0154 N/A 0.0010 0.0057 0.0424 0.12
AUS04
6
395215.
0
6504375.
0
85.23 10 85m
m
0 -90 1 3 2 99.9 0.0229 N/A 0.0142 N/A N/A 0.0055 0.0426 0.05
AUS04
6
395215.
0
6504375.
0
85.23 10 85m
m
0 -90 3 5 2 99.8 0.0206 N/A 0.0130 N/A N/A 0.0057 0.0405 0.10
AUS04
6
395215.
0
6504375.
0
85.23 10 85m
m
0 -90 5 7 2 99.6 0.1116 N/A 0.0331 N/A N/A 0.0063 0.0908 0.11

Page 19

Hole ID Easting Northing RL Dept
h
Widt
h
Azimuth Dip From To Interval SiO2 % AL2O3 % CaO % Fe2O3 % K2O % MgO % Na2O % TiO2 % LOI %
AUS04
6
395215.
0
6504375.
0
85.23 10 85m
m
0 -90 7 9 2 95.9 2.1806 N/A 0.0859 0.0403 0.0066 0.0095 0.1746 1.63
AUS04
6
395215.
0
6504375.
0
85.23 10 85m
m
0 -90 9 10 1 99.5 0.2481 N/A 0.0229 N/A 0.0043 0.0061 0.0671 0.15
AUS04
6
395215.
0
6504375.
0
85.23 10 85m
m
0 -90 1 10 9 98.9 0.5466 0 0.0350 0.0090 0.0019 0.0067 0.0849 0.44
AUS04
7
395210.
0
6504619.
0
95.86 10 85m
m
0 -90 1 3 2 99.7 0.0295 N/A 0.0137 N/A N/A 0.0049 0.0530 0.15
AUS04
7
395210.
0
6504619.
0
95.86 10 85m
m
0 -90 3 5 2 99.8 0.0221 N/A 0.0130 N/A N/A 0.0051 0.0418 0.06
AUS04
7
395210.
0
6504619.
0
95.86 10 85m
m
0 -90 5 7 2 99.8 0.0230 N/A 0.0151 N/A N/A 0.0055 0.0434 0.07
AUS04
7
395210.
0
6504619.
0
95.86 10 85m
m
0 -90 1 7 6 99.8 0.0249 N/A 0.0139 N/A N/A 0.0052 0.0461 0.09
AUS04
8
395208.
0
6504768.
0
90.26 10 85m
m
0 -90 1 3 2 99.7 0.0218 N/A 0.0124 N/A 0.0043 0.0056 0.0385 0.18
AUS04
8
395208.
0
6504768.
0
90.26 10 85m
m
0 -90 3 5 2 99.9 0.0217 N/A 0.0178 N/A N/A 0.0051 0.0449 0.03
AUS04
8
395208.
0
6504768.
0
90.26 10 85m
m
0 -90 5 7 2 99.9 0.0217 N/A 0.0143 N/A N/A 0.0050 0.0393 0.04
AUS04
8
395208.
0
6504768.
0
90.26 10 85m
m
0 -90 7 9 2 99.8 0.0206 N/A 0.0127 N/A N/A 0.0054 0.0381 0.11
AUS04
8
395208.
0
6504768.
0
90.26 10 85m
m
0 -90 9 10 1 99.8 0.0468 N/A 0.0311 N/A N/A 0.0056 0.0418 0.04
AUS04
8
395208.
0
6504768.
0
90.26 10 85m
m
0 -90 1 10 9 99.8 0.0243 N/A 0.0162 N/A 0.0010 0.0053 0.0404 0.08
AUS04
9
395211.
0
6504996.
0
90.37 10 85m
m
0 -90 1 3 2 99.7 0.0273 N/A 0.0161 N/A 0.0047 0.0055 0.0562 0.18
AUS04
9
395211.
0
6504996.
0
90.37 10 85m
m
0 -90 3 5 2 99.8 0.0238 N/A 0.0142 N/A N/A 0.0042 0.0487 0.11
AUS04
9
395211.
0
6504996.
0
90.37 10 85m
m
0 -90 5 7 2 99.9 0.0281 N/A 0.0209 N/A N/A 0.0045 0.0629 0.01
AUS04
9
395211.
0
6504996.
0
90.37 10 85m
m
0 -90 7 9 2 99.7 0.0434 N/A 0.0281 N/A N/A 0.0055 0.0548 0.11
AUS04
9
395211.
0
6504996.
0
90.37 10 85m
m
0 -90 9 10 1 99.7 0.1001 N/A 0.0654 N/A 0.0048 0.0055 0.0599 0.06
AUS04
9
395211.
0
6504996.
0
90.37 10 85m
m
0 -90 1 10 9 99.8 0.0384 N/A 0.0249 N/A 0.0016 0.0050 0.0561 0.10
AUS05
0
395209.
0
6505166.
0
82.68 10 85m
m
0 -90 1 3 2 99.8 0.0348 N/A 0.0127 N/A N/A 0.0056 0.0505 0.04
AUS05
0
395209.
0
6505166.
0
82.68 10 85m
m
0 -90 3 5 2 99.8 0.0269 N/A 0.0150 N/A 0.0040 0.0049 0.0629 0.12
AUS05
0
395209.
0
6505166.
0
82.68 10 85m
m
0 -90 5 7 2 99.7 0.0279 N/A 0.0303 N/A N/A 0.0053 0.0949 0.09
AUS05
0
395209.
0
6505166.
0
82.68 10 85m
m
0 -90 7 9 2 99.7 0.0358 N/A 0.0384 N/A N/A 0.0046 0.1069 0.08
AUS05
0
395209.
0
6505166.
0
82.68 10 85m
m
0 -90 1 9 8 99.8 0.0314 N/A 0.0241 N/A 0.0010 0.0051 0.0788 0.08

Page 20

Hole ID Easting Northing RL Dept
h
Widt
h
Azimuth Dip From To Interval SiO2 % AL2O3 % CaO % Fe2O3 % K2O % MgO % Na2O % TiO2 % LOI %
AUS05
1
395207.
0
6505363.
0
75.73 10 85m
m
0 -90 1 3 2 99.5 0.0337 N/A 0.0308 N/A 0.0051 0.0053 0.1002 0.36
AUS05
1
395207.
0
6505363.
0
75.73 10 85m
m
0 -90 3 5 2 98.9 0.2134 N/A 0.0338 0.0300 0.0066 0.0076 0.1264 0.71
AUS05
1
395207.
0
6505363.
0
75.73 10 85m
m
0 -90 1 5 4 99.2 0.1236 N/A 0.0323 0.0150 0.0059 0.0065 0.1133 0.54
AUS05
2
395202.
0
6505558.
0
81.85 10 85m
m
0 -90 1 3 2 99.7 0.0328 N/A 0.0288 N/A 0.0043 0.0046 0.0917 0.16
AUS05
2
395202.
0
6505558.
0
81.85 10 85m
m
0 -90 3 5 2 99.2 0.2641 N/A 0.0602 0.0133 0.0055 0.0056 0.0954 0.31
AUS05
2
395202.
0
6505558.
0
81.85 10 85m
m
0 -90 5 7 2 99.3 0.2730 N/A 0.0537 0.0199 0.0050 0.0067 0.1085 0.26
AUS05
2
395202.
0
6505558.
0
81.85 10 85m
m
0 -90 7 9 2 99.2 0.2807 N/A 0.0489 0.0121 0.0054 0.0061 0.0762 0.39
AUS05
2
395202.
0
6505558.
0
81.85 10 85m
m
0 -90 9 10 1 99.3 0.2760 N/A 0.0394 0.0147 0.0049 0.0063 0.0845 0.30
AUS05
2
395202.
0
6505558.
0
81.85 10 85m
m
0 -90 1 10 9 99.3 0.2197 N/A 0.0470 0.0117 0.0050 0.0058 0.0920 0.28
AUS05
3
395208.
0
6505750.
0
79.01 10 85m
m
0 -90 1 3 2 99.7 0.0309 N/A 0.0262 N/A 0.0044 0.0048 0.0942 0.09
AUS05
3
395208.
0
6505750.
0
79.01 10 85m
m
0 -90 3 5 2 99.7 0.0254 N/A 0.0328 N/A 0.0046 0.0052 0.1038 0.14
AUS05
3
395208.
0
6505750.
0
79.01 10 85m
m
0 -90 1 5 4 99.7 0.0282 N/A 0.0295 0.0000 0.0045 0.0050 0.0990 0.12
AUS05
4
395205.
0
6505965.
0
76.66 10 85m
m
0 -90 1 3 2 99.6 0.0686 N/A 0.0284 0.0040 0.0054 0.0053 0.0927 0.22
AUS05
4
395205.
0
6505965.
0
76.66 10 85m
m
0 -90 3 5 2 98.9 0.2164 N/A 0.0206 N/A 0.0051 0.0056 0.0811 0.78
AUS05
4
395205.
0
6505965.
0
76.66 10 85m
m
0 -90 5 7 2 99.8 0.0250 N/A 0.0139 N/A N/A 0.0045 0.0518 0.08
AUS05
4
395205.
0
6505965.
0
76.66 10 85m
m
0 -90 7 9 2 99.8 0.0226 N/A 0.0205 N/A N/A 0.0042 0.0770 0.05
AUS05
4
395205.
0
6505965.
0
76.66 10 85m
m
0 -90 9 10 1 98 0.7702 N/A 0.0578 0.0708 0.0063 0.0100 0.2361 0.88
AUS05
4
395205.
0
6505965.
0
76.66 10 85m
m
0 -90 1 10 9 99.4 0.1595 N/A 0.0250 0.0088 0.0030 0.0055 0.0935 0.35
AUS05
5
395206.
0
6506168.
0
80.39 10 85m
m
0 -90 1 3 2 99.8 0.0430 N/A 0.0256 N/A 0.0041 0.0053 0.0836 0.03
AUS05
5
395206.
0
6506168.
0
80.39 10 85m
m
0 -90 3 5 2 98.8 0.4800 N/A 0.0445 0.0318 0.0058 0.0068 0.1089 0.47
AUS05
5
395206.
0
6506168.
0
80.39 10 85m
m
0 -90 5 7 2 99.6 0.0898 N/A 0.0322 N/A N/A 0.0045 0.0966 0.12
AUS05
5
395206.
0
6506168.
0
80.39 10 85m
m
0 -90 7 9 2 99.5 0.1150 N/A 0.0289 N/A 0.0047 0.0048 0.1454 0.19
AUS05
5
395206.
0
6506168.
0
80.39 10 85m
m
0 -90 1 9 8 99.4 0.1820 N/A 0.0328 0.0080 0.0037 0.0054 0.1086 0.20

Page 21

Hole ID Easting Northing RL Dept
h
Widt
h
Azimuth Dip From To Interval SiO2 % AL2O3 % CaO % Fe2O3 % K2O % MgO % Na2O % TiO2 % LOI %
AUS05
6
395336.
0
6506280.
0
83.89 10 85m
m
0 -90 1 3 2 99.7 0.0312 N/A 0.0218 N/A N/A 0.0044 0.0696 0.11
AUS05
6
395336.
0
6506280.
0
83.89 10 85m
m
0 -90 3 5 2 99.2 0.3171 N/A 0.0577 0.0255 0.0053 0.0067 0.0942 0.26
AUS05
6
395336.
0
6506280.
0
83.89 10 85m
m
0 -90 5 7 2 99 0.4680 N/A 0.0688 0.0256 0.0045 0.0065 0.0854 0.38
AUS05
6
395336.
0
6506280.
0
83.89 10 85m
m
0 -90 7 9 2 99 0.4199 N/A 0.0418 0.0327 0.0053 0.0063 0.0776 0.36
AUS05
6
395336.
0
6506280.
0
83.89 10 85m
m
0 -90 9 10 1 99.5 0.0828 N/A 0.0425 N/A 0.0045 0.0040 0.1191 0.22
AUS05
6
395336.
0
6506280.
0
83.89 10 85m
m
0 -90 1 10 9 99.3 0.2839 N/A 0.0470 0.0186 0.0039 0.0058 0.0859 0.27
AUS05
7
395453.
0
6506372.
0
94.98 10 85m
m
0 -90 1 3 2 99.3 0.2766 N/A 0.0747 N/A 0.0059 0.0067 0.0945 0.17
AUS05
7
395453.
0
6506372.
0
94.98 10 85m
m
0 -90 3 5 2 98.9 0.4403 N/A 0.0860 0.0305 0.0047 0.0065 0.1047 0.40
AUS05
7
395453.
0
6506372.
0
94.98 10 85m
m
0 -90 5 7 2 99.4 0.2989 N/A 0.0393 0.0336 0.0049 0.0065 0.0836 0.17
AUS05
7
395453.
0
6506372.
0
94.98 10 85m
m
0 -90 7 9 2 99.3 0.3268 N/A 0.0511 0.0479 0.0052 0.0073 0.1196 0.17
AUS05
7
395453.
0
6506372.
0
94.98 10 85m
m
0 -90 9 10 1 99.2 0.3392 N/A 0.0495 0.0648 0.0050 0.0087 0.1122 0.18
AUS05
7
395453.
0
6506372.
0
94.98 10 85m
m
0 -90 1 10 9 99.2 0.3360 N/A 0.0613 0.0321 0.0052 0.0070 0.1019 0.22
AUS05
8
395660.
0
6506547.
0
83.16 10 85m
m
0 -90 1 3 2 99.8 0.0317 N/A 0.0287 N/A N/A 0.0042 0.0859 0.05
AUS05
8
395660.
0
6506547.
0
83.16 10 85m
m
0 -90 3 5 2 99.6 0.0920 N/A 0.0404 N/A 0.0045 N/A 0.1138 0.15
AUS05
8
395660.
0
6506547.
0
83.16 10 85m
m
0 -90 5 7 2 98.8 0.3579 N/A 0.0450 0.0148 0.0051 0.0050 0.1824 0.55
AUS05
8
395660.
0
6506547.
0
83.16 10 85m
m
0 -90 7 9 2 99.2 0.2627 N/A 0.0194 0.0112 0.0049 0.0051 0.0584 0.42
AUS05
8
395660.
0
6506547.
0
83.16 10 85m
m
0 -90 9 10 1 99.4 0.1633 N/A 0.0335 N/A 0.0051 0.0044 0.1537 0.21
AUS05
8
395660.
0
6506547.
0
83.16 10 85m
m
0 -90 1 10 9 99.4 0.1835 N/A 0.0334 0.0058 0.0038 0.0037 0.1150 0.28
AUS05
9
395691.
0
6506696.
0
90.39 10 85m
m
0 -90 1 3 2 99.2 0.2433 N/A 0.0955 0.0220 0.0054 0.0057 0.1890 0.19
AUS05
9
395691.
0
6506696.
0
90.39 10 85m
m
0 -90 3 5 2 99 0.4606 N/A 0.0815 0.0331 0.0049 0.0062 0.1343 0.29
AUS05
9
395691.
0
6506696.
0
90.39 10 85m
m
0 -90 5 7 2 98.7 0.5139 N/A 0.0887 0.0460 0.0051 0.0070 0.1184 0.47
AUS05
9
395691.
0
6506696.
0
90.39 10 85m
m
0 -90 7 9 2 99.2 0.3624 N/A 0.0323 0.0380 0.0043 0.0063 0.0785 0.22
AUS05
9
395691.
0
6506696.
0
90.39 10 85m
m
0 -90 9 10 1 99.2 0.3464 N/A 0.0378 0.0461 0.0050 0.0071 0.0934 0.21
AUS05
9
395691.
0
6506696.
0
90.39 10 85m
m
0 -90 1 10 9 99.0 0.3896 N/A 0.0704 0.0360 0.0049 0.0064 0.1260 0.28

Page 22

Hole ID Easting Northing RL Dept
h
Widt
h
Azimuth Dip From To Interval SiO2 % AL2O3 % CaO % Fe2O3 % K2O % MgO % Na2O % TiO2 % LOI %
AUS06
0
395684.
0
6506932.
0
103.1
1
15 85m
m
0 -90 1 3 2 99.8 0.0345 N/A 0.0201 N/A N/A N/A 0.0617 0.06
AUS06
0
395684.
0
6506932.
0
103.1
1
15 85m
m
0 -90 3 5 2 99.2 0.3357 N/A 0.0724 0.0161 0.0050 0.0053 0.0788 0.24
AUS06
0
395684.
0
6506932.
0
103.1
1
15 85m
m
0 -90 5 7 2 99 0.4126 N/A 0.0724 0.0188 0.0044 0.0057 0.0885 0.35
AUS06
0
395684.
0
6506932.
0
103.1
1
15 85m
m
0 -90 7 9 2 98.8 0.4389 N/A 0.0674 0.0158 0.0054 0.0056 0.0938 0.60
AUS06
0
395684.
0
6506932.
0
103.1
1
15 85m
m
0 -90 9 11 2 99.1 0.3866 N/A 0.0499 0.0244 0.0043 0.0064 0.0705 0.37
AUS06
0
395684.
0
6506932.
0
103.1
1
15 85m
m
0 -90 11 13 2 99.2 0.3156 N/A 0.0567 0.0304 N/A 0.0060 0.1154 0.24
AUS06
0
395684.
0
6506932.
0
103.1
1
15 85m
m
0 -90 13 15 2 99.2 0.3365 N/A 0.0772 0.0474 0.0041 0.0074 0.1656 0.19
AUS06
0
395684.
0
6506932.
0
103.1
1
15 85m
m
0 -90 1 15 14 99.2 0.3229 0 0.0594 0.0218 0.0033 0.0052 0.0963 0.29
AUS06
1
395680.
0
6507129.
0
97.77 10 85m
m
0 -90 1 3 2 99.8 0.0360 N/A 0.0163 N/A 0.0100 N/A 0.0547 0.05
AUS06
1
395680.
0
6507129.
0
97.77 10 85m
m
0 -90 3 5 2 99.7 0.1097 N/A 0.0355 0.0192 N/A 0.0055 0.0704 0.05
AUS06
1
395680.
0
6507129.
0
97.77 10 85m
m
0 -90 5 7 2 99 0.3837 N/A 0.1167 0.0266 0.0047 0.0057 0.0950 0.31
AUS06
1
395680.
0
6507129.
0
97.77 10 85m
m
0 -90 7 9 2 98.9 0.4333 N/A 0.1239 0.0233 0.0045 0.0058 0.1037 0.38
AUS06
1
395680.
0
6507129.
0
97.77 10 85m
m
0 -90 9 10 1 99.1 0.4084 N/A 0.0424 0.0346 0.0045 0.0062 0.0722 0.34
AUS06
1
395680.
0
6507129.
0
97.77 10 85m
m
0 -90 1 10 9 99.3 0.2593 N/A 0.0697 0.0192 0.0048 0.0045 0.0800 0.21
AUS06
2
395674.
0
6507366.
0
90.88 10 85m
m
0 -90 1 3 2 99.8 0.0359 N/A 0.0217 N/A N/A N/A 0.0684 0.06
AUS06
2
395674.
0
6507366.
0
90.88 10 85m
m
0 -90 3 5 2 99.4 0.2141 N/A 0.0515 0.0204 0.0051 0.0054 0.0762 0.19
AUS06
2
395674.
0
6507366.
0
90.88 10 85m
m
0 -90 5 7 2 99.3 0.3631 N/A 0.0761 0.0381 0.0042 0.0064 0.0811 0.17
AUS06
2
395674.
0
6507366.
0
90.88 10 85m
m
0 -90 7 9 2 99.1 0.3744 N/A 0.0643 0.0437 0.0047 0.0068 0.0963 0.28
AUS06
2
395674.
0
6507366.
0
90.88 10 85m
m
0 -90 1 9 8 99.4 0.2469 N/A 0.0534 0.0256 0.0035 0.0047 0.0805 0.18
AUS06
3
395667.
0
6507660.
0
88.07 10 85m
m
0 -90 1 3 2 99.8 0.0299 N/A 0.0198 N/A N/A N/A 0.0625 0.12
AUS06
3
395667.
0
6507660.
0
88.07 10 85m
m
0 -90 3 5 2 99.6 0.1836 N/A 0.0493 0.0143 0.0077 0.0046 0.0828 0.01
AUS06
3
395667.
0
6507660.
0
88.07 10 85m
m
0 -90 5 7 2 99.3 0.4190 N/A 0.0560 0.0252 0.0041 0.0061 0.0730 0.15
AUS06
3
395667.
0
6507660.
0
88.07 10 85m
m
0 -90 7 9 2 99.2 0.3745 N/A 0.0357 0.0280 0.0043 0.0054 0.0593 0.25
AUS06
3
395667.
0
6507660.
0
88.07 10 85m
m
0 -90 9 10 1 99.1 0.4018 N/A 0.0421 0.0304 0.0050 0.0061 0.0621 0.30

Page 23

Hole ID Easting Northing RL Dept
h
Widt
h
Azimuth Dip From To Interval SiO2 % AL2O3 % CaO % Fe2O3 % K2O % MgO % Na2O % TiO2 % LOI %
AUS06
3
395667.
0
6507660.
0
88.07 10 85m
m
0 -90 1 10 9 99.4 0.2684 N/A 0.0404 0.0184 0.0041 0.0043 0.0686 0.15
AUS06
4
395665.
0
6507878.
0
87.88 10 85m
m
0 -90 1 3 2 99.9 0.0348 N/A 0.0192 N/A N/A N/A 0.0558 0.01
AUS06
4
395665.
0
6507878.
0
87.88 10 85m
m
0 -90 3 5 2 99.4 0.2670 N/A 0.0530 0.0167 N/A 0.0046 0.0709 0.18
AUS06
4
395665.
0
6507878.
0
87.88 10 85m
m
0 -90 5 7 2 99.1 0.4928 N/A 0.0798 0.0223 0.0047 0.0053 0.0759 0.24
AUS06
4
395665.
0
6507878.
0
87.88 10 85m
m
0 -90 7 9 2 99 0.3064 N/A 0.0792 0.0214 0.0199 0.0050 0.0758 0.49
AUS06
4
395665.
0
6507878.
0
87.88 10 85m
m
0 -90 9 10 1 99.4 0.3073 N/A 0.0433 0.0243 0.0046 0.0053 0.0781 0.18
AUS06
4
395665.
0
6507878.
0
87.88 10 85m
m
0 -90 1 10 9 99.4 0.2788 N/A 0.0562 0.0161 0.0060 0.0039 0.0705 0.22
AUS06
5
395661.
0
6508070.
0
86.54 10 85m
m
0 -90 1 3 2 99.8 0.0309 N/A 0.0215 N/A 0.0095 N/A 0.0649 0.10
AUS06
5
395661.
0
6508070.
0
86.54 10 85m
m
0 -90 3 5 2 99.6 0.2638 N/A 0.0520 0.0156 0.0043 0.0053 0.0840 0.01
AUS06
5
395661.
0
6508070.
0
86.54 10 85m
m
0 -90 5 7 2 99.1 0.4297 N/A 0.0681 0.0210 0.0042 0.0060 0.0775 0.27
AUS06
5
395661.
0
6508070.
0
86.54 10 85m
m
0 -90 7 9 2 99.2 0.3761 N/A 0.0600 0.0233 0.0049 0.0056 0.0716 0.30
AUS06
5
395661.
0
6508070.
0
86.54 10 85m
m
0 -90 9 10 1 99.7 0.1714 N/A 0.0515 0.0084 0.0047 0.0051 0.0565 0.01
AUS06
5
395661.
0
6508070.
0
86.54 10 85m
m
0 -90 1 10 9 99.5 0.2636 N/A 0.0505 0.0142 0.0056 0.0043 0.0725 0.15
AUS06
6
395656.
0
6508311.
0
86.49 10 85m
m
0 -90 1 3 2 99.8 0.0281 N/A 0.0197 N/A N/A 0.0041 0.0477 0.10
AUS06
6
395656.
0
6508311.
0
86.49 10 85m
m
0 -90 3 5 2 99.8 0.0308 N/A 0.0138 N/A N/A N/A 0.0409 0.06
AUS06
6
395656.
0
6508311.
0
86.49 10 85m
m
0 -90 5 7 2 99.6 0.1018 N/A 0.0361 N/A 0.0042 N/A 0.0682 0.14
AUS06
6
395656.
0
6508311.
0
86.49 10 85m
m
0 -90 7 9 2 99.6 0.0860 N/A 0.0414 N/A N/A N/A 0.0788 0.15
AUS06
6
395656.
0
6508311.
0
86.49 10 85m
m
0 -90 1 9 8 99.7 0.0617 N/A 0.0278 N/A 0.0011 0.0010 0.0589 0.11
AUS06
7
395851.
0
6506535.
0
98.68 10 85m
m
0 -90 1 3 2 99.7 0.0303 N/A 0.0181 N/A 0.0041 N/A 0.0614 0.19
AUS06
7
395851.
0
6506535.
0
98.68 10 85m
m
0 -90 3 5 2 99.8 0.0260 N/A 0.0233 N/A 0.0063 N/A 0.0771 0.10
AUS06
7
395851.
0
6506535.
0
98.68 10 85m
m
0 -90 5 7 2 99.8 0.0282 N/A 0.0206 N/A N/A N/A 0.0639 0.07
AUS06
7
395851.
0
6506535.
0
98.68 10 85m
m
0 -90 7 9 2 99.5 0.1572 N/A 0.0756 0.0120 0.0050 0.0052 0.0915 0.17
AUS06
7
395851.
0
6506535.
0
98.68 10 85m
m
0 -90 9 10 1 99.3 0.2265 N/A 0.0658 0.0043 0.0046 0.0041 0.1001 0.24
AUS06
7
395851.
0
6506535.
0
98.68 10 85m
m
0 -90 1 10 9 99.7 0.0789 N/A 0.0379 0.0031 0.0039 0.0016 0.0764 0.14

Page 24

Hole ID Easting Northing RL Dept
h
Widt
h
Azimuth Dip From To Interval SiO2 % AL2O3 % CaO % Fe2O3 % K2O % MgO % Na2O % TiO2 % LOI %
AUS06
8
395977.
0
6506533.
0
109.9
1
20 85m
m
0 -90 1 3 2 99 0.4324 N/A 0.0874 0.0134 0.0042 0.0048 0.0796 0.38
AUS06
8
395977.
0
6506533.
0
109.9
1
20 85m
m
0 -90 3 5 2 99.3 0.2803 N/A 0.0547 0.0160 0.0098 0.0045 0.0838 0.20
AUS06
8
395977.
0
6506533.
0
109.9
1
20 85m
m
0 -90 5 7 2 99.5 0.1668 N/A 0.0305 0.0050 0.0071 0.0041 0.0630 0.21
AUS06
8
395977.
0
6506533.
0
109.9
1
20 85m
m
0 -90 7 9 2 99.5 0.1674 N/A 0.0333 0.0100 0.0043 0.0044 0.0777 0.17
AUS06
8
395977.
0
6506533.
0
109.9
1
20 85m
m
0 -90 9 11 2 99.6 0.1509 N/A 0.0381 0.0134 N/A 0.0042 0.0870 0.12
AUS06
8
395977.
0
6506533.
0
109.9
1
20 85m
m
0 -90 11 13 2 99.6 0.1459 N/A 0.0368 0.0088 0.0045 0.0048 0.0765 0.07
AUS06
8
395977.
0
6506533.
0
109.9
1
20 85m
m
0 -90 13 15 2 99.6 0.1597 N/A 0.0452 0.0157 0.0057 0.0047 0.0998 0.08
AUS06
8
395977.
0
6506533.
0
109.9
1
20 85m
m
0 -90 15 17 2 99.6 0.1382 N/A 0.0402 0.0066 0.0044 0.0046 0.0730 0.09
AUS06
8
395977.
0
6506533.
0
109.9
1
20 85m
m
0 -90 17 19 2 99.6 0.1373 N/A 0.0438 0.0090 N/A N/A 0.0924 0.07
AUS06
8
395977.
0
6506533.
0
109.9
1
20 85m
m
0 -90 19 20 1 99.5 0.1636 N/A 0.0647 0.0182 0.0047 0.0051 0.1476 0.10
AUS06
8
395977.
0
6506533.
0
109.9
1
20 85m
m
0 -90 1 20 19 99.5 0.1959 N/A 0.0466 0.0113 0.0045 0.0041 0.0849 0.15
AUS06
9
396101.
0
6506527.
0
90.8 10 85m
m
0 -90 1 3 2 99.7 0.0305 N/A 0.0148 N/A N/A N/A 0.0526 0.16
AUS06
9
396101.
0
6506527.
0
90.8 10 85m
m
0 -90 3 5 2 99.8 0.0257 N/A 0.0156 N/A N/A N/A 0.0531 0.11
AUS06
9
396101.
0
6506527.
0
90.8 10 85m
m
0 -90 5 7 2 99.8 0.0220 N/A 0.0162 N/A N/A N/A 0.0552 0.06
AUS06
9
396101.
0
6506527.
0
90.8 10 85m
m
0 -90 7 9 2 99.8 0.0237 N/A 0.0207 N/A N/A N/A 0.0614 0.09
AUS06
9
396101.
0
6506527.
0
90.8 10 85m
m
0 -90 9 10 1 99.5 0.0984 N/A 0.0757 0.0165 0.0044 0.0054 0.1209 0.14
AUS06
9
396101.
0
6506527.
0
90.8 10 85m
m
0 -90 1 10 9 99.7 0.0336 N/A 0.0234 0.0018 0.0005 0.0006 0.0628 0.11
AUS07
0
396280.
0
6506533.
0
80.39 10 85m
m
0 -90 1 3 2 99.8 0.0239 N/A 0.0152 N/A 0.0053 N/A 0.0582 0.12
AUS07
0
396280.
0
6506533.
0
80.39 10 85m
m
0 -90 3 5 2 99.8 0.0221 N/A 0.0173 N/A 0.0046 N/A 0.0596 0.11
AUS07
0
396280.
0
6506533.
0
80.39 10 85m
m
0 -90 1 3 4 99.8 0.0230 N/A 0.0163 N/A 0.0050 N/A 0.0589 0.12
AUS07
1
396498.
0
6506529.
0
94.19 10 85m
m
0 -90 1 3 2 99.7 0.0287 N/A 0.0158 N/A N/A N/A 0.0589 0.14
AUS07
1
396498.
0
6506529.
0
94.19 10 85m
m
0 -90 3 5 2 99.8 0.0247 N/A 0.0138 N/A N/A N/A 0.0455 0.07
AUS07
1
396498.
0
6506529.
0
94.19 10 85m
m
0 -90 5 7 2 99.8 0.0210 N/A 0.0145 N/A N/A N/A 0.0439 0.06
AUS07
1
396498.
0
6506529.
0
94.19 10 85m
m
0 -90 7 9 2 99.8 0.0201 N/A 0.0166 N/A N/A N/A 0.0452 0.07

Page 25

Hole ID Easting Northing RL Dept
h
Widt
h
Azimuth Dip From To Interval SiO2 % AL2O3 % CaO % Fe2O3 % K2O % MgO % Na2O % TiO2 % LOI %
AUS07
1
396498.
0
6506529.
0
94.19 10 85m
m
0 -90 9 10 1 99.9 0.0201 N/A 0.0161 N/A N/A N/A 0.0401 0.05
AUS07
1
396498.
0
6506529.
0
94.19 10 85m
m
0 -90 1 9 9 99.8 0.0232 N/A 0.0153 N/A N/A N/A 0.0475 0.08
AUS07
2
396705.
0
6506527.
0
97.53 20 85m
m
0 -90 1 3 2 99.8 0.0200 N/A 0.0178 N/A N/A N/A 0.0537 0.10
AUS07
2
396705.
0
6506527.
0
97.53 20 85m
m
0 -90 3 5 2 99.7 0.0208 N/A 0.0161 N/A N/A N/A 0.0469 0.18
AUS07
2
396705.
0
6506527.
0
97.53 20 85m
m
0 -90 5 7 2 99.8 0.0196 N/A 0.0157 N/A N/A N/A 0.0459 0.07
AUS07
2
396705.
0
6506527.
0
97.53 20 85m
m
0 -90 7 9 2 99.9 0.0211 N/A 0.0185 N/A N/A N/A 0.0394 0.06
AUS07
2
396705.
0
6506527.
0
97.53 20 85m
m
0 -90 9 11 2 99.5 0.0429 N/A 0.0368 N/A 0.0043 N/A 0.0452 0.36
AUS07
2
396705.
0
6506527.
0
97.53 20 85m
m
0 -90 11 13 2 99.5 0.1105 N/A 0.0647 N/A 0.0043 N/A 0.0544 0.27
AUS07
2
396705.
0
6506527.
0
97.53 20 85m
m
0 -90 13 15 2 99.7 0.0825 N/A 0.0393 N/A N/A N/A 0.0561 0.15
AUS07
2
396705.
0
6506527.
0
97.53 20 85m
m
0 -90 15 17 2 99.8 0.0585 N/A 0.0304 N/A N/A N/A 0.0379 0.09
AUS07
2
396705.
0
6506527.
0
97.53 20 85m
m
0 -90 17 19 2 99.8 0.0456 N/A 0.0367 N/A N/A N/A 0.0328 0.08
AUS07
2
396705.
0
6506527.
0
97.53 20 85m
m
0 -90 19 20 1 99.8 0.0442 N/A 0.0305 N/A N/A N/A 0.0319 0.08
AUS07
2
396705.
0
6506527.
0
97.53 20 85m
m
0 -90 1 20 19 99.7 0.0467 N/A 0.0307 N/A 0.0009 N/A 0.0451 0.15
AUS07
3
396891.
0
6506521.
0
84.5 10 85m
m
0 -90 1 3 2 99.8 0.0216 N/A 0.0161 N/A N/A N/A 0.0408 0.11
AUS07
3
396891.
0
6506521.
0
84.5 10 85m
m
0 -90 3 5 2 99.8 0.0204 N/A 0.0186 N/A N/A N/A 0.0497 0.08
AUS07
3
396891.
0
6506521.
0
84.5 10 85m
m
0 -90 5 7 2 99.8 0.0201 N/A 0.0185 N/A N/A N/A 0.0548 0.12
AUS07
3
396891.
0
6506521.
0
84.5 10 85m
m
0 -90 7 9 2 99.8 0.0204 N/A 0.0268 N/A N/A N/A 0.0719 0.06
AUS07
3
396891.
0
6506521.
0
84.5 10 85m
m
0 -90 1 9 8 99.8 0.0206 N/A 0.0200 N/A N/A N/A 0.0543 0.09
AUS07
4
397117.
0
6506521.
0
97.23 10 85m
m
0 -90 1 3 2 99.8 0.0254 N/A 0.0139 N/A N/A N/A 0.0544 0.13
AUS07
4
397117.
0
6506521.
0
97.23 10 85m
m
0 -90 3 5 2 99.8 0.0223 N/A 0.0120 N/A N/A N/A 0.0416 0.10
AUS07
4
397117.
0
6506521.
0
97.23 10 85m
m
0 -90 5 7 2 99.8 0.0215 N/A 0.0199 N/A N/A N/A 0.0388 0.10
AUS07
4
397117.
0
6506521.
0
97.23 10 85m
m
0 -90 7 9 2 99.8 0.0224 N/A 0.0135 N/A N/A N/A 0.0372 0.11
AUS07
4
397117.
0
6506521.
0
97.23 10 85m
m
0 -90 9 10 1 99.8 0.0202 N/A 0.0175 N/A N/A N/A 0.0405 0.10
AUS07
4
397117.
0
6506521.
0
97.23 10 85m
m
0 -90 1 10 9 99.8 0.0226 N/A 0.0151 N/A N/A N/A 0.0427 0.11

Page 26

Hole ID Easting Northing RL Dept
h
Widt
h
Azimuth Dip From To Interval SiO2 % AL2O3 % CaO % Fe2O3 % K2O % MgO % Na2O % TiO2 % LOI %
AUS07
5
398149.
0
6506502.
0
79.74 10 85m
m
0 -90 1 3 2 99.8 0.0169 N/A 0.0100 N/A N/A N/A 0.0443 0.12
AUS07
5
398149.
0
6506502.
0
79.74 10 85m
m
0 -90 3 5 2 99.8 0.0242 N/A 0.0158 N/A N/A N/A 0.0691 0.09
AUS07
5
398149.
0
6506502.
0
79.74 10 85m
m
0 -90 5 7 2 99.8 0.0191 N/A 0.0137 N/A N/A N/A 0.0614 0.11
AUS07
5
398149.
0
6506502.
0
79.74 10 85m
m
0 -90 7 9 2 99.8 0.0195 N/A 0.0141 N/A 0.0066 N/A 0.0585 0.12
AUS07
5
398149.
0
6506502.
0
79.74 10 85m
m
0 -90 9 10 1 99.8 0.0205 N/A 0.0173 N/A N/A N/A 0.0556 0.09
AUS07
5
398149.
0
6506502.
0
79.74 10 85m
m
0 -90 1 10 9 99.8 0.0200 N/A 0.0138 N/A 0.0015 N/A 0.0580 0.11
AUS07
6
398347.
0
6506505.
0
82.66 10 85m
m
0 -90 1 3 2 99.7 0.0221 N/A 0.0145 N/A 0.0045 N/A 0.0567 0.15
AUS07
6
398347.
0
6506505.
0
82.66 10 85m
m
0 -90 3 5 2 99.7 0.0211 N/A 0.0143 N/A N/A N/A 0.0461 0.16
AUS07
6
398347.
0
6506505.
0
82.66 10 85m
m
0 -90 5 7 2 99.8 0.0198 N/A 0.0121 N/A N/A N/A 0.0435 0.08
AUS07
6
398347.
0
6506505.
0
82.66 10 85m
m
0 -90 7 9 2 99.8 0.0195 N/A 0.0120 N/A N/A N/A 0.0411 0.07
AUS07
6
398347.
0
6506505.
0
82.66 10 85m
m
0 -90 9 10 1 99.8 0.0168 N/A 0.0119 N/A 0.0198 N/A 0.0423 0.05
AUS07
6
398347.
0
6506505.
0
82.66 10 85m
m
0 -90 1 10 9 99.8 0.0202 N/A 0.0131 N/A 0.0032 N/A 0.0463 0.11
AUS07
7
398564.
0
6506505.
0
90.03 10 85m
m
0 -90 1 3 2 99.8 0.0206 N/A 0.0139 N/A N/A N/A 0.0499 0.14
AUS07
7
398564.
0
6506505.
0
90.03 10 85m
m
0 -90 3 5 2 99.8 0.0187 N/A 0.0159 N/A 0.0047 N/A 0.0518 0.08
AUS07
7
398564.
0
6506505.
0
90.03 10 85m
m
0 -90 5 7 2 99.8 0.0190 N/A 0.0170 N/A N/A N/A 0.0458 0.06
AUS07
7
398564.
0
6506505.
0
90.03 10 85m
m
0 -90 7 9 2 99.9 0.0183 N/A 0.0152 N/A N/A N/A 0.0400 0.05
AUS07
7
398564.
0
6506505.
0
90.03 10 85m
m
0 -90 9 10 1 99.8 0.0188 N/A 0.0162 N/A N/A N/A 0.0390 0.07
AUS07
7
398564.
0
6506505.
0
90.03 10 85m
m
0 -90 1 10 9 99.8 0.0191 0 0.0156 N/A 0.0010 N/A 0.0460 0.08
AUS07
8
398772.
0
6506503.
0
88.7 10 85m
m
0 -90 1 3 2 99.8 0.0214 N/A 0.0146 N/A 0.0047 N/A 0.0527 0.11
AUS07
8
398772.
0
6506503.
0
88.7 10 85m
m
0 -90 3 5 2 99.8 0.0194 N/A 0.0123 N/A N/A N/A 0.0450 0.08
AUS07
8
398772.
0
6506503.
0
88.7 10 85m
m
0 -90 5 7 2 99.8 0.0184 N/A 0.0129 N/A N/A N/A 0.0494 0.07
AUS07
8
398772.
0
6506503.
0
88.7 10 85m
m
0 -90 7 9 2 99.8 0.0171 N/A 0.0173 N/A N/A N/A 0.0485 0.09
AUS07
8
398772.
0
6506503.
0
88.7 10 85m
m
0 -90 9 10 1 99.8 0.0182 N/A 0.0185 N/A 0.0052 N/A 0.0513 0.06
AUS07
8
398772.
0
6506503.
0
88.7 10 85m
m
0 -90 1 10 9 99.8 0.0190 N/A 0.0147 N/A 0.0016 N/A 0.0492 0.08

Page 27

Hole ID Easting Northing RL Dept
h
Widt
h
Azimuth Dip From To Interval SiO2 % AL2O3 % CaO % Fe2O3 % K2O % MgO % Na2O % TiO2 % LOI %
AUS07
9
398944.
0
6506497.
0
85.8 10 85m
m
0 -90 1 3 2 99.8 0.0205 N/A 0.0148 N/A N/A N/A 0.0539 0.12
AUS07
9
398944.
0
6506497.
0
85.8 10 85m
m
0 -90 3 5 2 99.7 0.0166 N/A 0.0110 N/A 0.0082 N/A 0.0386 0.19
AUS07
9
398944.
0
6506497.
0
85.8 10 85m
m
0 -90 5 7 2 99.8 0.0201 N/A 0.0131 N/A N/A N/A 0.0382 0.09
AUS07
9
398944.
0
6506497.
0
85.8 10 85m
m
0 -90 7 9 2 99.9 0.0179 N/A 0.0158 N/A N/A N/A 0.0426 0.05
AUS07
9
398944.
0
6506497.
0
85.8 10 85m
m
0 -90 9 10 1 99.8 0.0187 N/A 0.0170 N/A N/A N/A 0.0461 0.08
AUS07
9
398944.
0
6506497.
0
85.8 10 85m
m
0 -90 1 10 9 99.8 0.0188 N/A 0.0140 N/A 0.0018 N/A 0.0436 0.11
AUS08
0
399142.
0
6506497.
0
87.47 10 85m
m
0 -90 1 3 2 99.7 0.0245 N/A 0.0167 N/A 0.0041 N/A 0.0519 0.19
AUS08
0
399142.
0
6506497.
0
87.47 10 85m
m
0 -90 3 5 2 99.8 0.0212 N/A 0.0172 N/A N/A N/A 0.0501 0.11
AUS08
0
399142.
0
6506497.
0
87.47 10 85m
m
0 -90 5 7 2 99.8 0.0244 N/A 0.0199 N/A N/A N/A 0.0530 0.08
AUS08
0
399142.
0
6506497.
0
87.47 10 85m
m
0 -90 7 9 2 99.8 0.0199 N/A 0.0211 N/A N/A N/A 0.0491 0.05
AUS08
0
399142.
0
6506497.
0
87.47 10 85m
m
0 -90 9 10 1 99.8 0.0193 N/A 0.0221 N/A N/A N/A 0.0605 0.05
AUS08
0
399142.
0
6506497.
0
87.47 10 85m
m
0 -90 1 10 9 99.8 0.0221 N/A 0.0191 N/A 0.0009 N/A 0.0521 0.10
AUS08
1
399323.
0
6506494.
0
82.47 10 85m
m
0 -90 1 3 2 99.7 0.0238 N/A 0.0127 N/A N/A N/A 0.0485 0.17
AUS08
1
399323.
0
6506494.
0
82.47 10 85m
m
0 -90 3 5 2 99.8 0.0198 N/A 0.0144 N/A N/A N/A 0.0525 0.07
AUS08
1
399323.
0
6506494.
0
82.47 10 85m
m
0 -90 5 7 2 99.8 0.0197 N/A 0.0164 N/A N/A N/A 0.0549 0.08
AUS08
1
399323.
0
6506494.
0
82.47 10 85m
m
0 -90 7 9 2 99.8 0.0220 N/A 0.0222 N/A 0.0043 N/A 0.0540 0.06
AUS08
1
399323.
0
6506494.
0
82.47 10 85m
m
0 -90 9 10 1 99.8 0.0279 N/A 0.0274 N/A N/A N/A 0.0555 0.09
AUS08
1
399323.
0
6506494.
0
82.47 10 85m
m
0 -90 1 10 9 99.8 0.0221 N/A 0.0176 N/A 0.0010 N/A 0.0528 0.09
AUS08
2
399513.
0
6506493.
0
75.81 9 85m
m
0 -90 1 3 2 99.7 0.0227 N/A 0.0221 N/A N/A N/A 0.0588 0.22
AUS08
2
399513.
0
6506493.
0
75.81 9 85m
m
0 -90 3 5 2 99.8 0.0198 N/A 0.0179 N/A N/A N/A 0.0597 0.10
AUS08
2
399513.
0
6506493.
0
75.81 9 85m
m
0 -90 5 7 2 99.8 0.0180 N/A 0.0151 N/A N/A N/A 0.0432 0.11
AUS08
2
399513.
0
6506493.
0
75.81 9 85m
m
0 -90 1 7 6 99.8 0.0202 N/A 0.0184 N/A N/A N/A 0.0539 0.14

Page 28