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CAZALY RESOURCES LIMITED Capital/Financing Update 2019

Jul 29, 2019

64609_rns_2019-07-29_bfb1b4f1-2d7b-4871-9574-7575fab9aa2e.pdf

Capital/Financing Update

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Woomera Mining Limited

Suite 116 147 Pirie Street Adelaide SA 5000 [email protected]

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30 July 2019

ASX Announcement

AMALGAMATION OF EXPIRED PROSPECTING LICENCES AT MT VENN GOLD PROJECT

Woomera Mining Limited (ASX: WML) (‘Woomera’ or ‘Company’) wishes to provide an update on the status of the Mt Venn gold tenements which are the subject of the recently signed Heads of Agreement with Cazaly Resources Limited (ASX:CAZ).

As announced on 23 May 2019, Woomera signed a Heads of Agreement providing the framework to purchase an initial 80% interest in Cazaly’s Mt Venn gold tenements located in the north eastern goldfields of Western Australia.

Under the terms of the transaction, at completion of the acquisition:

  • Woomera will acquire 100% of the shares in Yamarna West Pty Ltd (‘Yamarna’), a wholly owned subsidiary of Cazaly, which holds the tenements.

  • Yamarna would then transfer to Cazaly a 20% undivided interest in the Tenements, and

  • Cazaly would enter into an agreement with Yamarna to establish an unincorporated joint venture under which the JV parties will hold the following interests:

Yamarna 80% Cazaly 20%

Completion is now expected to occur on or before 16 September 2019.

Woomera also wishes to advise that according to the DMIRS register, the amalgamation applications have been granted and the areas the subject of P38/4149-4151 and P38/4195 are now part of E38/3111. CAZ will advise Woomera once it receives written confirmation from DMIRS.

Mt Venn Tenements

The Mt Venn gold and nickel project located 125 kms northeast of the township of Laverton in the north eastern goldfields of Western Australia.

The two tenements E 38/3111 and E 38/3150 cover 50km of strike of the Mt Venn Greenstone Belt providing Woomera with the dominant land position (>90%) in the belt.

Mount Venn greenstone belt is associated with the Yamarna Shear and is close to Gold Road Resources (ASX: GOR) Gruyere gold deposit (>6 Mozs. Gold Resource) located in the neighbouring Dorothy Hills Greenstone Belt.

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Figure 1. Location of the Mt Venn Project

At the time of entering into the Binding Heads of Agreement, the Mt Venn project consisted of two granted exploration licences E 38/3111 and E 38/3150. In addition to the granted exploration licences, four Prospecting Licences over the historic Chapman’s Reward mine (P38/4149, 4150, 4151 and 4195) (Expired Prospecting Licences) were pending amalgamation into E 38/3111 (Figure 2). Woomera has been advised that that the four expired Prospecting Licences covering the Chapman’s Reward gold prospect at Mt Venn have been amalgamated into E 38/3111.

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Figure 2. Location of the Chapman’s Reward former PL’s showing historic workings

Significance of the Amalgamation of the Former PLs

Chapman’s Reward is a compelling exploration target consisting of N-S striking, up to 5m thick quartz veins that carry fine visible gold.

The first discovery of gold was officially reported in 1923 by the State Prospecting Party’s (SPP) discovery of several existing pits, at Chapman’s Reward, following numerous high-grade quartz veins, in schist or gneiss, with widths of up to 5m and specks of fine gold.

The results of SPP sampling are shown below in Table 1 – Source; The WA Department of Mines 1923 Annual Report.

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Prospect **MGA94_51_East ** **MGA94_51_North ** **Sample ** Au Ozs total/t Aug/t Comments
Chapman's Reward 535585 6918398 1 0.075 2.33 Jutson's/Chapman's - auriferous flat lying qtz vein in workings
Chapman's Reward 535585 6918398 2 2.765 85.99 Jutson's/Chapman's - 1 to 2mqtz vein in workings
Chapman's Reward 535585 6918398 3 1.410 43.87 Jutson's/Chapman's - 30cmqtz vein in samepit as 2
Chapman's Reward 535585 6918398 4 6.467 201.13 Jutson's/Chapman's -qtz vein mulloch from samepit as 2&3
Chapman's Reward 535585 6918398 6 5.363 166.79 Jutson's/Chapman's -qtz vein mulloch from samepit as 2&3
Chapman's Reward 535585 6918398 7 0.213 6.61 Jutson's/Chapman's -qtz vein in workings
Chapman's Reward 535585 6918398 8 2.454 76.33 Jutson's/Chapman's -qtz vein near workings
Chapman's Reward 535585 6918398 10 0.075 2.33 Jutson's/Chapman's -qtz vein near workings
Chapman's Reward 535585 6918398 11 0.029 0.91 Jutson's/Chapman's -qtz vein near workings
Chapman's Reward 535585 6918398 13 1.425 44.32 Jutson's/Chapman's -qtz vein mulloch near workingas sampled by16
Chapman's Reward 535585 6918398 14 0.356 11.08 Jutson's/Chapman's - 2m wideqtz vein in workings on 3500
Chapman's Reward 535585 6918398 16 0.044 1.36 Jutson's/Chapman's - <1m wideqtz vein in workings

Table 1. Coordinates and descriptions of State Prospecting Party’s 1923 rock chip sampling undertaken at Chapman’s Reward results converted to Au g/t

Notes:

  • Sample locations are noted in the WA Department of Mines 1923 Annual Report (Geological Survey of Western Australia, 1924). Coordinates are not included however the location descriptions are deemed sufficient to enable the relocation of samples points

  • g/t Au results have been converted from pennyweight (dwt)

  • The Exploration Results have not been reported in accordance with the JORC Code 2012

  • A Competent Person has not done sufficient work to disclose the Exploration Results in accordance with the JORC Code 2012;

  • It is possible that following further evaluation and/or exploration work that the confidence in the prior reported Exploration Results may be reduced when reported under the JORC Code 2012;

  • That nothing has come to the attention of the acquirer that causes it to question the accuracy or reliability of the former owner’s Exploration Results; but

  • The acquirer has not independently validated the former owner’s Exploration Results and therefore is not to be regarded as reporting, adopting or endorsing those results.

From 1925, a total of 26.65 ounces of gold was recovered from 15.24 tonnes of ore at an average grade of 54.39 g/t gold from Chapman’s Reward (GML 215OT).

Cazaly Resources Limited conducted rock chip sampling in September 2018. The results are shown below in Table 2.

SampleID GDA_East GDA_North Prospect Date_Sampled Comments Au ppm
CF001 6917845 535663 Chapman's Reward 20/09/2018 qtz feox vein in20
working at Chapman's Reward 15-50cm wide. Gneiss, minor amphib and chlorite schist
0.22
CF002 6917845 535663 Chapman's Reward 20/09/2018 qtz feox vein in20
working at Chapman's Reward 15-50cm wide. Gneiss, minor amphib and chlorite schist
0.52
CF003 6917845 535663 Chapman's Reward 20/09/2018 as above with some pegmatite associated 0.54
CF004 6917845 535663 Chapman's Reward 20/09/2018 pegmatite vein from muloch at old workings Chapman's Reward 0.08
CF005 6917845 535663 Chapman's Reward 20/09/2018 qtz feox vein from mulloch in pegmatatie/gneiss and mica scist 8.18
CF006 6917845 535663 Chapman'sReward 20/09/2018 qtz feox vein from mulloch inpegmatatie/gneiss andmica scist 31.80
CF007 6917845 535663 Chapman's Reward 20/09/2018 qtz feox vein in20
working at Chapman's Reward 15-50cm wide. Gneiss, minor amphib and chlorite schist
0.25
CF008 6917845 535663 Chapman's Reward 20/09/2018 qtz feox vein in20
working at Chapman's Reward 15-50cm wide. Gneiss, minor amphib and chlorite schist
0.13

Table 2. Coordinates and descriptions of Cazaly Resources Limited’s September 2018 rock chip sampling undertaken at Chapman’s Reward results converted to Au g/t

Mt Venn Gold Potential

The overall potential for gold discoveries is considered to be excellent. There are several gold targets that could be drilled once Heritage Clearances are completed. Foremost among the gold targets are Chapman’s Reward, Lang’s Find, Mount Cumming and the Three Bears Prospect (Figure 3).

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Figure 3. Identified exploration targets within the Mt Venn Greenstone Belt

Contact

Gerard Anderson Peter Taylor Managing Director Investor Relations Woomera Mining Limited 0412 036 231 [email protected]

About Woomera Mining Limited

Woomera Mining Limited (Woomera) is an ASX listed exploration company based in Adelaide, South Australia with an extensive mineral tenement portfolio prospective for Copper, Lithium, Gold, Uranium, Iron Ore, Nickel and Cobalt. The Woomera tenement package includes tenements in the Musgrave Province of South Australia (Musgrave Alcurra-Tieyon Project). The Company also has tenements in the Gawler Craton which are considered prospective for IOCGU deposits, Cu-Ni-Co deposits, Rare Earth and Precious Metals. Woomera’s tenement portfolio also includes 7 granted tenements and 3 tenement applications in Western Australia including 2 tenements and 1 tenement application in the Pilbara region of WA (Pilgangoora Lithium Project), 3 lithium tenements near Ravensthorpe (Mt Cattlin Lithium Project), 1 lithium tenement and 1 tenement application at Binneringie near Lake Cowan and 2 WA lithium brine prospects over Lakes Dundas and Dumbleyung (Lakes Lithium Projects).

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ANNEXURE 1. JORC Code, 2012 Edition – Table 1 Section 1 Sampling Techniques and Data

Criteria JORC Code explanation Commentary
Sampling
techniques
Nature and quality of sampling (eg cut
channels, random chips, or specific
specialised industry standard
measurement tools appropriate to the
minerals under investigation, such as
down hole gamma sondes, or handheld
XRF instruments, etc). These examples
should not be taken as limiting the broad
meaning of sampling.
Include reference to measures taken to
ensure sample representivity and the
appropriate calibration of any
measurement tools or systems used.
Aspects of the determination of
mineralisation that are Material to the
Public Report.
In cases where ‘industry standard’ work
has been done this would be relatively
simple (eg ‘reverse circulation drilling was
used to obtain 1 m samples from which 3
kg was pulverised to produce a 30 g
charge for fire assay’). In other cases more
explanation may be required, such as
where there is coarse gold that has
inherent sampling problems. Unusual
commodities or mineralisation types (eg
submarine nodules) may warrant
disclosure of detailed information.
Yamarna West Pty Ltd (YAM) a wholly
owned subsidiary of Cazaly Resources
Limited (CAZ), has completed the following
exploration at Mt Venn:
•24 reverse circulation (RC) drill holes for
3,147m, 116 air core (AC) drill holes for
4,995m and 138 rotary air blast (RAB)
drill holes for 2,546m were completed by
YAM to variable depths.
•All sampling was conducted using
Cazaly Resources Ltd (CAZ) protocols
including industry best practice, QAQC
procedures including duplicates and
standards.
•RC samples were collected in 1 metre
intervals from a rig mounted cyclone
with attached cone splitter. The dry
samples were split into a bulk sample
(green bag) and a representative 3kg
split (calico). All 1 metre samples were
lined up in rows of 20 beside the hole.
Damp or wet samples were collected in
green bags and spear/scoop sampled.
•Composite samples were collected from
each 1metre bulk green bag using a
sample spear to ensure a representative
sample was combined from 2-4 metre
intervals, depending on the geologist’s
instructions. In some intervals, only 1
metre cone split representative samples
were collected for analysis.
•RAB and AC samples were collected off
a rig mounted cyclone in buckets and
placed on the ground beside the hole in
10 sample rows. Composite samples
consisting of representative scoop
samples were collected from the sample
piles in 1-4 metre intervals, depending
on the geologist’s instructions.
•3kg composite samples were sent to
Bureau Veritas in Perth, sorted, crushed
and pulverized to -75μm, split to
produce a 40g charge for either Fire
assay (RC) or Aqua Regia digest (RAB,
AC) analysis for gold. Samples were
also analysed for Al, Fe, Mn, V, Ag, As,
Ba, Bi, Co, Cr, Cu, Mo, Ni, Pb, Sb, Sc,
Te, Tl, W and Zn by ICP and OES or MS
finish.
•21 Grab rock chip samples from surface
outcrops were completed by YAM
Drilling
techniques
Drill type (eg core, reverse circulation,
open-hole hammer, rotary air blast, auger,
Bangka, sonic, etc) and details (eg core
diameter, triple or standard tube, depth of
•RC drilling by YAM utilized a face
sampling percussion hammer with 51/2
inch bits
•AC drilling by YAM utilized a face

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Criteria JORC Code explanation Commentary
diamond tails, face-sampling bit or other
type, whether core is oriented and if so, by
what method, etc).
sampling blade or hammer bit with a
nominal hole diameter of 80mm
•RAB drilling by YAM utilized a blade bit
and open hole sample collection method
with a nominal hole diameter of 80mm
Drill sample
recovery
Method of recording and assessing core
and chip sample recoveries and results
assessed.
Measures taken to maximise sample
recovery and ensure representative nature
of the samples.
Whether a relationship exists between
sample recovery and grade and whether
sample bias may have occurred due to
preferential loss/gain of fine/coarse
material.
•YAM RC, AC and RAB drill recoveries
were visually estimated.
•All RC samples were dry and no
significant ground water was
encountered. Sample recovery was
estimated to be good. Some sample
loss was encountered at the top of hole
•YAM AC and RAB sample recovery was
mostly estimated to be good. Some wet
samples were encountered in RAB
drilling at the bottom of hole. These are
<1% of samples collected and were
recorded in geological logs.
•Drill cyclones were cleaned regularly
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 YAM drill chips were geologically
logged on site by geologists following
the CAZ logging scheme.
•Logging recorded depth, colour,
lithology, texture, mineralogy,
mineralization, alteration and other
features.
•All YAM drill holes were logged in full
Sub-sampling
techniques
and sample
preparation
If core, whether cut or sawn and whether
quarter, half or all core taken.
If non-core, whether riffled, tube sampled,
rotary split, etc and whether sampled wet
or dry.
For all sample types, the nature, quality
and appropriateness of the sample
preparation technique.
Quality control procedures adopted for all
sub-sampling stages to maximise
representivity of samples.
Measures taken to ensure that the
sampling is representative of the in situ
material collected, including for instance
results for field duplicate/second-half
sampling.
Whether sample sizes are appropriate to
the grain size of the material being
sampled.
•YAM 1 metre RC drill samples fall
through a rotary cone‐splitter directly
below the rig mounted cyclone. A 2‐3 kg
sample is collected in an pre‐numbered
calico bag, and lined up in rows with the
corresponding plastic bag. The majority
of samples were dry, wet or dry
samples were appropriately recorded.
•YAM AC and RAB 1metre drill samples
were laid out on the ground in 10 metre
rows. A 2-4 metre composite sample (2‐
3 kg) was collected using a metal
scoop, into pre‐numbered calico bags.
The majority of samples were dry, wet
or dry samples were appropriately
recorded.
•Duplicate field sample composites were
collected in YAM RC drilling at the rate
of 2 samples per hole
•Appropriate sampling protocols were
used during YAM RC, AC and RAB
composite sampling. These included
scoop or spear collection at various
angles through bulk 1 metre sample
bags or piles to maximize representivity.
Quality of
assay data
and
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,
•All YAM RC samples were analysed
using a 40g charge Fire Assay with an
AAS finish which is industry standard for

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Criteria JORC Code explanation Commentary
laboratory
tests
handheld XRF instruments, etc, the
parameters used in determining the
analysis including instrument make and
model, reading times, calibrations factors
applied and their derivation, etc.
Nature of quality control procedures
adopted (eg standards, blanks, duplicates,
external laboratory checks) and whether
acceptable levels of accuracy (ie lack of
bias) and precision have been established.
gold analysis. A 40g aqua regia digest
with an MS finish has been used for AC
and RAB samples which is industry
standard for low level gold analysis.
This is considered a partial digest
Technique however in weathered
samples it is considered to approximate
a total digest assay.
•Samples were also analysed for Al, Fe,
Mn, V, Ag, As, Ba, Bi, Co, Cr, Cu, Mo,
Ni, Pb, Sb, Sc, Te, Tl, W and Zn by ICP
and OES or MS finish.
•Field duplicate samples were submitted
with each sample batch at a rate of 1
per 25 samples. The laboratory inserted
standards, blanks and duplicate
samples. Results are within tolerable
limits
Verification of
sampling and
assaying
The verification of significant intersections
by either independent or alternative
company personnel.
The use of twinned holes.
Documentation of primary data, data entry
procedures, data verification, data storage
(physical and electronic) protocols.
Discuss any adjustment to assay data.
•All YAM data has been checked
internally by senior CAZ staff
•CAZ is yet to collect 1m splits within
significant composite sample intercepts
for assay. Duplicate composite samples
show repeatable values with acceptable
tolerances within significant intercepts
where available
•Field data is collected using Field
Marshal software on Toughbook
computer. The data is validated using
Micromine software in the office.
•No adjustment to assay data has been
made
Location of
data points
Accuracy and quality of surveys used to
locate drill holes (collar and down-hole
surveys), trenches, mine workings and
other locations used in Mineral Resource
estimation.
Specification of the grid system used.
Quality and adequacy of topographic
control.
•All YAM location points were collected
using handheld GPS in MGA 94 – Zone
51
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.
•YAM RC drill holes were drilled at
varying spacing from 40m to 100m
depending on the target and geology.
AC and RAB drilling were drilled at
100m x 150m and 100m x 50m
depending upon the targeting and the
geology. This AC/RAB spacing was
utilized for first pass testing of targets.
Further RC drilling is considered
necessary before being of sufficient
density for Mineral Resource estimation
•Four metre composite samples have
been collected for YAM RC drilling via
spearing. Four metre composite
samples have been collected for
RAB/AC drilling using a metal scoop
Orientation of
data in
relation to
Whether the orientation of sampling
achieves unbiased sampling of possible
structures and the extent to which this is
known, considering the deposit type.
Ifthe relationship between the drilling
•YAM RC drilling at -60 degrees towards
the west (270) has appeared to confirm
the interpreted east dipping stratigraphy
minimizing lithological bias. RC drilling is
considered sufficient to confirm primary

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Criteria JORC Code explanation Commentary
geological
structure
orientation and the orientation of key
mineralised structures is considered to
have introduced a sampling bias, this
should be assessed and reported if
material.
mineralized structure orientation dipping
to the east. AC/RAB drilling is not
sufficient to confidently predict
orientation of structural mineralisation
•No sampling bias is identified in the
YAM RC drill data
Sample
security
The measures taken to ensure sample
security.
•YAM RC samples were delivered by
CAZ staff directly to the laboratory
depots in Leonora and Kalgoorlie. The
laboratory managed secure transport of
samples from regional depots to the
Perth laboratory
Audits or
reviews
The results of any audits or reviews of
sampling techniques and data.
•YAM Data is audited and reviewed in
house using Datashed and Micromine
as well as visual audits by senior staff.

Section 2 Reporting of Exploration Results

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

Criteria JORC Code explanation Commentary
Mineral
tenement and
land tenure
status
Type, reference name/number, location
and ownership including agreements or
material issues with third parties such
as joint ventures, partnerships,
overriding royalties, native title
interests, historical sites, wilderness or
national park and environmental
settings.
The security of the tenure held at the
time of reporting along with any known
impediments to obtaining a licence to
operate in the area.
•All drilling in this report is located within
granted E38/3111, which is held 100% by
CAZ through wholly owned subsidiary
company Yamarna West Pty Ltd (YAM).
YAM signed an Access Agreement for
exploration with The Yilka Native Title
Claimant group and the Cosmo Newberry
Community. These groups have Native
Title over the area through a registered
claim and Cosmo Newberry Aboriginal
Reserve.
•The tenement is in good standing with no
known impediments
Exploration
done by other
parties
Acknowledgment and appraisal of
exploration by other parties.
•Historic holders of the Project area
include Global Metals Exploration NL,
Elmina NL, Asarco Exploration Company
and Kilkenny Gold NL
•The State Prospecting Party took 12 rock
chip samples of quartz veins at
Chapman’s Reward and 3 rock chip
samples of quartz veins at Lang’s Find
that were reported in the WA Department
of Mines 1923 Annual Report.
•86 RAB holes for 2,181m, 54 AC drill
holes for 1,594m and 41 RC drill holes for
6,768m was undertaken by Global Metals
Exploration in 2011-12 which highlighted
gold mineralization in shallow weathered
basement at the “Central” prospect known
today as “Three Bears” (WAMEX Report
A093805).
•Elmina (WAMEX Reports A049192;
A052151 and A053979), Asarco and
Global Metals geochemical sampling
included 4,644 auger samples, 453 rock
chip samples and 7,135 soil samples
which has identified a number of other
gold and base metal anomalies
Geology Deposit type, geological setting and
style of mineralisation.
•Orogenic Archean gold mineralization
associatedwith majorshearsis targeted

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Criteria JORC Code explanation Commentary
at the Mt Venn Project. Base metal
mineralization is also targeted. The
geology of the mineralization is not yet
known due to the lack of information
collected to date.
Drill hole
Information
A summary of all information material
to the understanding of the exploration
results including a tabulation of the
following information for all Material drill
holes:
o easting and northing of the drill hole
collar
o elevation or RL (Reduced Level –
elevation above sea level in metres)
of the drill hole collar
o dip and azimuth of the hole
o down hole length and interception
depth
o 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. _
•Refer to tables and body of text within
Cazaly Resources announcements for
drill hole locations and results.
•Low level geochemical information has
been used from YAM and historic drilling
to help identify trends or the “footprint” of
gold and base metal mineralization. This
is summarized in figures and maps and
considered appropriate.
•A nominal 0.2g/t gold and 0.02% Zn,
0.02% Cu and 1g/t Ag lower cut-off has
been used and reported as significant in
the context of the first pass drilling at a
grassroots stage of exploration.
Data
aggregation
methods
In reporting Exploration Results,
weighting averaging techniques,
maximum and/or minimum grade
truncations (eg cutting of high grades)
and cut-off grades are usually Material
and should be stated.
Where aggregate intercepts
incorporate short lengths of high grade
results and longer lengths of low grade
results, the procedure used for such
aggregation should be stated and some
typical examples of such aggregations
should be shown in detail.
The assumptions used for any
reporting of metal equivalent values
should be clearly stated.
•No top cuts were applied when reporting
results
•First assay from the interval is reported
(Au1)
•Aggregate sample assays were calculated
using a length weighted average
•Significant RC assay results were
reported based on >0.10g/t Au, 0.02% Cu,
0.02% Zn and 1g/t Ag.
•Significant AC/RAB assay results were
reported based on >0.10g/t Au, 0.02% Cu,
0.02% Zn and 1g/t Ag
•A representative "gram metre" value was
calculated and presented in parts of the
report using industry standard calculations
based on "g/t gold x metre interval"
aggregate over an anomalous intercept
length. This intercept is based on plus
0.10g/t Au, 0.02% Cu, 0.02% Zn and 1g/t
Ag values and contains no more than one
interval of waste. This representation of
grade is considered appropriate for the
style of mineralisation.
•No metal equivalent values are reported
Relationship
between
mineralisation
widths and
intercept
lengths
These relationships are particularly
important in the reporting of Exploration
Results.
If the geometry of the mineralisation
with respect to the drill hole angle is
known, its nature should be reported.
If it is not known and only the down
hole lengths are reported, there should
be a clear statement to this effect (eg
‘down hole length, true width not
known’).
•Mineralisation intersected in YAM RC
drilling appeared oblique to the orientation
of the drill holes. Reported mineralisation
down hole is considered to be closely
representative of true widths. However,
more information is required to confirm
true width of mineralization.
•Orientation of mineralisation intersected in
YAM RAB/AC drilling is not known and
therefore true widths of mineralization is
not known

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Criteria JORC Code explanation Commentary
Diagrams Appropriate maps and sections (with
scales) and tabulations of intercepts
should be included for any significant
discovery being reported These should
include, but not be limited to a plan
view of drill hole collar locations and
_appropriate sectional views. _
•Refer to Maps, Figures and Diagrams in
previous Cazaly ASX announcements
Balanced
reporting
Where comprehensive reporting of all
Exploration Results is not practicable,
representative reporting of both low
and high grades and/or widths should
be practiced to avoid misleading
_reporting of Exploration Results. _
•All YAM drill hole locations were reported
and a table of significant intercepts was
provided in previous ASX announcements
by parent company Cazaly Resources Ltd
(ASX: CAZ)
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. _
•All meaningful and material information
was reported in previous ASX
announcements by parent company
Cazaly Resources Ltd (ASX: CAZ)
Further work The nature and scale of planned further
work (eg tests for lateral extensions or
depth extensions or large-scale step-
out drilling).
Diagrams clearly highlighting the areas
of possible extensions, including the
main geological interpretations and
future drilling areas, provided this
information is not commercially
sensitive.
•Further Heritage Survey, drilling,
geological mapping and prospecting is
being planned and is expected to
commence within Q4 2019.

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