CORAZON MINING LIMITED — Regulatory Filings 2018

Jan 16, 2018

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ASX ANNOUNCEMENT 17 [th] January 2018
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CORAZON CONTINUES RAPID DEVELOPMENT OF COBALT RIDGE PROJECT

• Final assay results received from latest phase of drilling at Cobalt Ridge, located within the Mt Gilmore Cobalt-Copper-Gold Project, NSW

• Highly positive results confirm a significant Co-Cu-Au sulphide system:

• Best sulphide intercept of 5m @ 0.53% cobalt, 0.16% copper and 0.08 g/t gold within a broader zone of 42m @ 0.11% cobalt within the Cobalt Ridge Main Lode

• Significant scope exists to substantially increase the Project’s mineralised area

• Next phase of field work underway to test for extensions of drill defined mineralisation

• Soil sampling targeting areas of outcropping mineralisation to the south

• Geophysical studies to test for mineralisation under thin cover to the east

• Metallurgical testwork continues to deliver exceptional results, highlights the Project‘s development potential via a simple, low cost process pathway – results shortly

• Simple low-cost flotation processing of the sulphide mineralisation delivers excellent recoveries and differentiates Cobalt Ridge from cobalt rich nickel laterite deposits

Corazon Mining Limited (ASX: CZN) ( Corazon or Company ) is pleased to provide an update of its activities at the Cobalt Ridge prospect ( Cobalt Ridge ), located within the Company’s Mt Gilmore Project ( Project ), New South Wales.

Drilling

Corazon has now received assay results from the final two holes of its recently completed 18 hole - 3,189m drilling program (2,426m of RC and 763m of core) at Cobalt Ridge. Drill hole MGRCD036, which tested the Main Cobalt Lode, returned significant results of 5m @ 0.53 % Co, 0.16 % Cu, 0.08 g/t Au from 224 m, within a broader zone of 42m @ 0.11% Co (Figure 1).

Drilling has highlighted multiple cobalt, copper and gold mineralised trends in what is interpreted by the Company as a long-lived, multiphase alteration and mineralising event. The Main Cobalt Lode has been the primary target of the Company’s current drilling (and much of the historical drilling). This lode is up to 25 metres in true width and contains multiple narrow zones of higher-grade mineralisation.

Drill hole MGRC037 tested a structurally complex area proximal to the main lode and did not return significant results.

Level 1, 329 Hay St, Subiaco, W.A. 6008 | PO Box 8187, Subiaco East, W.A. 6008 | +61 (8) 6142 6366 | info@corazon,com.au | www.corazon.com.au | ASX: CZN

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Figure 1 : Geological cross-section in line for drill hole MRGC036 (location in Figure 2).

Cobalt intercept calculation parameters: Greater than or equal to 0.3m down hole thickness, greater than or equal to 0.05% Co, greater than or equal to 0.05% Co cut-off and less than or equal to 3m internal dilution. The results for MGRCD027 are an exception to this rule and have been included due to the value of the copper intersection. Assay values at “lower than” detection limits are attributed a value of 50% of that detection limit for interval calculations.

Copper equivalents: The composited value of the cobalt-copper-gold mineralisation is presented as percentage copper equivalents (CuEq%). These metals have been historically extracted from small scale mining at Mt Gilmore and it is the Company’s belief that the cobalt, copper and gold is recoverable. Metallurgical test work currently underway is expected to underpin these assumptions. CuEq% = Cu% + (Co% * 9.19) + (ppm Au * 0.63). Metal prices used are Cu US$7,113/t, Co US$75,506/t and Au US$1,318/oz.

Level 1, 329 Hay St, Subiaco, W.A. 6008 | PO Box 8187, Subiaco East, W.A. 6008 | +61 (8) 6142 6366 | info@corazon,com.au | www.corazon.com.au | ASX: CZN

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Drilling has identified the Main Cobalt Lode mineralisation to be open in all directions, and there is considerable scope to define extensions to this feature as well as define additional parallel lodes.

The results of Corazon’s drilling programs to date have continued to validate and strengthen the Company’s exploration model for the Project as a potentially significant Cobalt-Copper-Gold development asset. Based on the results achieved to date, Corazon will continue to rapidly advance the Project. The next phase of work will include geophysical and geochemical surveys to test for potential extensions to the Project area, as well as the continuation of Corazon’s highly successful metallurgical testwork programs.

Testing Extensions To Mineralisation

To date a small area of outcrop that defines Cobalt Ridge has been the focus for drilling (Figure 2). The Company believes there is good potential for the mineralisation to extend under thin cover to the east. In addition, recent prospecting to the south has identified multiple untested lodes very similar in character to the Cobalt Ridge mineralisation.

Geophysics is expected to be useful in tracing the Cobalt Ridge mineralisation under cover to the east. Geophysical consultants have been engaged and the Company is expecting to complete both aerial and ground geophysical surveys in the near term, with the intention of defining drill targets for the second quarter of 2018.

Work is underway to test prospective outcropping areas to the south of Cobalt Ridge with soil sampling (geochemical survey). Soil sampling has been very effective in identifying mineralised trends at Cobalt Ridge (Figure 2). The results of this work are expected in March 2018.

Metallurgical Testwork

Metallurgical testwork on the Cobalt Ridge mineralisation is continuing, and results of down-stream processing studies are expected to be completed in the coming weeks.

The results of metallurgical work to date have been exceptional. The sulphide mineralisation at Cobalt Ridge can be easily and quickly separated from the bulk of the feed, such that more than 90% of the targeted metals are concentrated in about 10% of the total mass. This ensures that the size, complexity and costs for the down-stream processing options are greatly reduced. This work will be used to scope options for the possible development of Cobalt Ridge.

Mt Gilmore Project Overview

The Mt Gilmore Project is located 35 kilometres from the major mining centre of Grafton in northeastern New South Wales. Corazon owns a 51% interest in the Project, and the exclusive right to earn up to an 80% interest in the Project.

The prospective 18km Mt Gilmore trend has been identified within the Project area; it includes:

• Over 25 historic copper, gold, cobalt and iron workings, including significant shafts, adits and drives with high-grade copper and gold mineralisation (rock chips up to grades of 26.8% Cu and 9.2 g/t Au); and

• Five large scale Cu-Au targets that have been defined to date.

Level 1, 329 Hay St, Subiaco, W.A. 6008 | PO Box 8187, Subiaco East, W.A. 6008 | +61 (8) 6142 6366 | info@corazon,com.au | www.corazon.com.au | ASX: CZN

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Although mapping indicates extensive hydrothermal alteration and copper-gold mineralisation at surface, very little modern exploration has been undertaken at the Project. Aside from small-scale historic copper-gold and iron mines, previous exploration has predominantly been restricted to general prospecting/ mapping, rock-chip/ grab sampling, with drilling completed at only one of the targets (the Pulganbar – Cobalt Ridge area).

Corazon completed its maiden drilling program at the Project in December 2016, testing the continuity, position and extent of the cobalt-copper-gold mineralisation within the Cobalt Ridge prospect area. Corazon’s drilling validated historical mining and exploration results, and confirmed the presence of multiple zones of sulphide mineralisation over a strike length of at least 300m. The mineralisation remains open along strike and at depth.

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Figure 2 – Cobalt Ridge Prospect – Interpreted geology and cobalt soil geochemical results, with drill hole collars/traces and historical workings.

Level 1, 329 Hay St, Subiaco, W.A. 6008 | PO Box 8187, Subiaco East, W.A. 6008 | +61 (8) 6142 6366 | info@corazon,com.au | www.corazon.com.au | ASX: CZN

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ENDS

For further information visit www.corazon.com.au or contact:

Brett Smith

James Moses

Managing Director Media & Investor Relations Corazon Mining Limited Mandate Corporate P: +61 (8) 6142 6366 M: +61 (0) 420 991 574 E: info@corazonmining.com.au E: james@mandatecorporate.com.au

Competent Persons Statement :

The information in this report that relates to Exploration Results and Targets is based on information compiled by Mr Brett Smith, B.Sc Hons (Geol), Member AusIMM, Member AIG and an employee of Corazon Mining Limited. Mr Smith has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Smith consents to the inclusion in the report of the matters based on this information in the form and context in which it appears.

Forward Looking Statements

This announcement contains certain statements that may constitute “forward looking statement”. Such statements are only predictions and are subject to inherent risks and uncertainties, which could cause actual values, results, performance achievements to differ materially from those expressed, implied or projected in any forward looking statements.

Forward-looking statements are statements that are not historical facts. Words such as “expect(s)”, “feel(s)”, “believe(s)”, “will”, “may”, “anticipate(s)” and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to statements regarding future production, resources or reserves and exploration results. All such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include, but are not limited to: (i) those relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits and conclusions of economic evaluations, (ii) risks relating to possible variations in reserves, grade, planned mining dilution and ore loss, or recovery rates and changes in project parameters as plans continue to be refined, (iii) the potential for delays in exploration or development activities or the completion of feasibility studies, (iv) risks related to commodity price and foreign exchange rate fluctuations, (v) risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals or in the completion of development or construction activities, and (vi) other risks and uncertainties related to the Company’s prospects, properties and business strategy. Our audience is cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and we do not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.

The Company believes that it has a reasonable basis for making the forward looking Statements in the announcement based on the information contained in this and previous ASX announcements.

The Company is not aware of any new information or data that materially affects the information included in this ASX release, and the Company confirms that, to the best of its knowledge, all material assumptions and technical parameters underpinning the exploration results in this release continue to apply and have not materially changed.

Level 1, 329 Hay St, Subiaco, W.A. 6008 | PO Box 8187, Subiaco East, W.A. 6008 | +61 (8) 6142 6366 | info@corazon,com.au | www.corazon.com.au | ASX: CZN

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17 [th] January, 2018

Table 1: Checklist of Assessment and Reporting Criteria

Mt Gilmore Project, New South Wales, Australia.

RC and Core Drilling – September - November 2017

Section 1 Sampling Techniques and Data

Criteria	JORC Code explanation	JORC Code explanation	Commentary
Sampling		Nature and quality of sampling (eg cut channels, random chips, or	For Reverse Circulation (RC) drilling, pulverised drill chip samples were
techniques		specific specialised industry standard measurement tools appropriate	collected in large PVC bag on a one metre basis.
		to the minerals under investigation, such as down hole gamma
		sondes, or handheld XRF instruments, etc). These examples should	RC drilling utilizing a face sampling hammer provided a clean,
		not be taken as limiting the broad meaning of sampling.	predominantly dry sample, from which subsamples were taken for
		Include reference to measures taken to ensure sample representivity	laboratory analysis and geological logging.
		and the appropriate calibration of any measurement tools or systems used.	Sub-sampling provided a nominal 2kg to 3kg sample for lab analysis.
		Aspects of the determination of mineralisation that are Material to the Public Report.	Sub-sampling was completed on a 1 metre basis, or composited on a 2 metre or 4 metre basis according to geology.
		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	Core drilling includes both HQ and NQ core sizes. For the Metallurgical Test Hole, whole HQ core has been submitted for testing. Sampling of the other core holes (predominantly NQ tails to RC holes) is completed on half-core, for intervals of a minimum of 300mm and maximum of 1 metre, determined based on geological boundaries.
		submarine nodules) may warrant disclosure of detailed information.	Industry standard sample Blanks and Standards were submitted for
			analysis with drill samples on a 1 in 50 basis.
			Field duplicate samples for analysis were taken every 50 samples.
			All samples were submitted to an independent certified Australian
			laboratory for analysis.
Drilling		Drill type (eg core, reverse circulation, open-hole hammer, rotary air	Reverse circulation and core drilling was undertaken by Drillit Consulting.
techniques		blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple	Equipment details include:
		or standard tube, depth of diamond tails, face-sampling bit or other
		type, whether core is oriented and if so, by what method, etc).	 Multi-purpose drill rig – UDR 600
			 6m length rods, 122 mm diameter RC drill bit, HQ and NQ core
			diametres

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17 [th] January, 2018

Table 1: Checklist of Assessment and Reporting Criteria

Mt Gilmore Project, New South Wales, Australia.

RC and Core Drilling – September - November 2017

Criteria	JORC Code explanation	JORC Code explanation	Commentary
			 Auxiliary compressor (1150psi) and booster (900cfm)
			 Above ground sumps and water collection units.
Drill sample		Method of recording and assessing core and chip sample recoveries	Sample recovery is considered to be very good by industry standards and
recovery		and results assessed.	predominantly dry. Where drilling intersected ground water wet samples
		Measures taken to maximise sample recovery and ensure	and recovery was noted on 1m intervals in drill logs. When water inflow
		representative nature of the samples.	compromised sample quality, drilling was discontinued.
		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.
Logging		Whether core and chip samples have been geologically and	Qualitative and quantitative logged was completed by a qualified and
		geotechnically logged to a level of detail to support appropriate	experienced senior geologist. RC drill holes were logged on a 1 metre
		Mineral Resource estimation, mining studies and metallurgical	basis.
		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.
Sub-sampling		If core, whether cut or sawn and whether quarter, half or all core	RC drill holes were bulked sampled on a 1 metre basis. Geological
techniques		taken.	logging determined sub-sampling, which was completed on either 1
and sample		If non-core, whether riffled, tube sampled, rotary split, etc and	metre basis, or composited individual 1 metre samples on a 2 metre or 4
preparation		whether sampled wet or dry.	metre basis.
	 	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.	Subsampling of the bulk 1 metre samples was undertaken utilizing a spear sampling tool. Subsampling size for laboratory submission is nominally between 2kg
		Measures taken to ensure that the sampling is representative of the in	and 3kg.
		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.	Core drilling included both HQ and NQ core sizes. Sampling was completed on half-core, for intervals of a minimum of 300mm and maximum of 1 metre, determined based on geological boundaries.
			Drill core was halved by using an industry standard core saw.

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Table 1: Checklist of Assessment and Reporting Criteria

17 [th] January, 2018

Mt Gilmore Project, New South Wales, Australia.

RC and Core Drilling – September - November 2017

• Criteria JORC Code explanation Quality of  The nature, quality and appropriateness of the assaying and assay data laboratory procedures used and whether the technique is considered and partial or total. laboratory  For geophysical tools, spectrometers, handheld XRF instruments, etc, tests 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.

Commentary These sub-sampling techniques are industry standard and if correctly applied provide quality, representative samples for laboratory analysis.

Field duplicates of the RC sub-sampling were taken on a 1 in 50 basis, for laboratory analysis and subsequent statistical auditing of sampling procedures.

All drill hole samples for analysis have been submitted to ALS Minerals, Shand Street, Brisbane, Queensland. ALS is a respected and certified independent laboratory with extensive experience and with operations throughout the world.

Samples submitted included sub-samples and composited samples, field duplicates and certified Standards and Blanks.

Lab Standards, Repeats and Blanks have also been reported within the ALS Certificates, along with the standard QC Reports.

Sample preparation included crush (-6mm), pulverizing and sub-split for analysis.

Analysis methods and detection limits for work are reported in the table below.

w.
Element	Method	Detection Limit
Au	ALS Method – Au- AA26 Ore grade 50gm FA AAS finish	0.01ppm
Ag, Al, As, Ba, Be, Bi, Ca, Cd, Ce, Co, Cr, Cs, Cu, Fe, Ga, Be, Hf, In, K, La, Li, Mg, Mn, Mo, Na, Nb, Ni, P, Pb, Rb, Re, S, Sb,	ALS Methods – GEO-4A01 ME- MS61 + 48 element 4 acid digestion, with	Variable

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Table 1: Checklist of Assessment and Reporting Criteria

17 [th] January, 2018

Mt Gilmore Project, New South Wales, Australia.

RC and Core Drilling – September - November 2017

Criteria JORC Code explanation Commentary	Criteria JORC Code explanation Commentary	Criteria JORC Code explanation Commentary	Criteria JORC Code explanation Commentary	Criteria JORC Code explanation Commentary
	Sc, Se, Sn, Sr, Ta, Te, Th, Ti, Tl, U, V, W, Y Zn Zr.	ICP-MS & ICPAES analysis Co-OG62 for >1% Co & Cu-OG62 for >1% Cu
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. Sampling and analytical methods are of a good standard and as such the results are considered representative of the mineralisation. Sample security has been controlled by the Company or ALS Minerals. Auditing of these results have determined accuracies within acceptable industry standards.
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. Drill hole locations were surveyed using a Trimble Juno 5 DGPS utilising the GDA94 (Zone 56) datum (approximately + 10mm accuracy). Down hole surveying of holes was undertaken nominally every 14 metres down-hole using a Reflex Electronic Multi-Shot Camera.
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. Data spacing is variable. No determination has yet been made regarding data spacing and whether sample distribution is sufficient for resource estimation.
Orientation of data in relation to geological structure  Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.  If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. Drill hole azimuths are believed to be perpendicular to the mineralised trend as defined by past exploration. Mineralised zones are interpreted to be sub-vertical with drilling with planned dips of -600 into these zones.

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17 [th] January, 2018

Table 1: Checklist of Assessment and Reporting Criteria

Mt Gilmore Project, New South Wales, Australia.

RC and Core Drilling – September - November 2017

Criteria	JORC Code explanation	JORC Code explanation	Commentary
			Analysis of sample and data bias has yet to be undertaken. No
			information has been provided in the current or historical reporting to
			suggest any bias.
			Core drilling is currently underway and will assist in the geological
			understanding of mineralised trends.
Sample		The measures taken to ensure sample security.	Sample submission for the drill program was undertaken by a qualified
security			geologist.
Audits or		The results of any audits or reviews of sampling techniques and data.	No audit of results has yet been undertaken.
reviews

Section 2 Reporting of Exploration Results

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

Criteria	JORC Code explanation	JORC Code explanation	Commentary
Mineral		Type, reference name/number, location and ownership including	The Mount Gilmore Project includes a single Exploration Licence
tenement and		agreements or material issues with third parties such as joint	(EL8379) located in New South Wales, Australia. The lease was granted
land tenure		ventures, partnerships, overriding royalties, native title interests,	on 23rd June 2015 and includes 99 “Units”.
status		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.	EL8379 is owned 51% by Corazon Mining Limited subsidiary Mt Gilmore Resources Pty Ltd and 49% by Providence Gold and Minerals Pty Ltd. Corazon Mining Limited has the option to earn up to 80% equity in the Project (refer to announcement dated 16 June, 2016).
			The lease covers private farm (station) land and minor Crown Land.
Exploration		Acknowledgment and appraisal of exploration by other parties.	Mineralisation was discovered in the Mt Gilmore Project region more than
done by other			130 years ago with small scale mining being completed in the late 1870’s
parties			at Glamorgan, Flintoffs and Federal copper and mercury mines.
			Historical records exist for the historical production and sampling. These
			reports are variable in quality and reliability.

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17 [th] January, 2018

Table 1: Checklist of Assessment and Reporting Criteria

Mt Gilmore Project, New South Wales, Australia.

RC and Core Drilling – September - November 2017

Criteria	JORC Code explanation	JORC Code explanation	JORC Code explanation	Commentary
				Modern exploration within the Project commenced in the 1980’s when
				PanContinental completed ground IP and magnetic geophysical surveys,
				gridded soil geochemistry for Cu, As, Au and Co, 25 trenches (1518.5m)
				and 17 RC drill holes (for 1,020.82m).
				Between 2006 and 2008 Central West Gold NL completed 25 RC holes
				and 2 core tails for 2,880m of RC and 163m of core. 21 of these holes
				were targeting Cobalt Ridge and 4 were completed at Gold Hill.
				The current Project holders have been focussed on developing data that
				supports a regional scale Cu-Au system along the Mt Gilmore trend.
Geology		Deposit type, geological setting and style of mineralisation.		The Project is located on the western edge of the Mesozoic Clarence-
				Morton Basin, where it abuts the Siluro-Devonian Silverwood Group. The
				Silverwood group is intruded by the Later Permian Towgon Grange
				Granodiorite and, at the contact, tourmaline rich bodies occur that range
				from veinlets to breccia-fill to dyke-like bodies up to 10m wide. The
				tourmaline enrichment appears to correlate with copper, cobalt and gold
				soil anomalies. Zoning of mineralisation has been identified, with cinnabar
				concentrated within the granodiorite and copper and gold concentrated
				within the hornfels.
				The Project is considered prospective for tourmaline breccia hosted Co-
				Cu-Au deposits, Cu-Au-Fe skarns and Quartz-sulphide vein systems,
				including porphyry Cu-Au deposits.
Drill hole		A summary of all information material to the understanding of the		Drill hole survey information for drilling completed by Corazon Mining
Information		exploration results including a tabulation of the following information		Limited at the Cobalt Ridge prospect is proved in the table below.
		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 lengthand interception depth

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Table 1: Checklist of Assessment and Reporting Criteria

17 [th] January, 2018

Mt Gilmore Project, New South Wales, Australia.

RC and Core Drilling – September - November 2017

• Criteria JORC Code explanation 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.

• Data  In reporting Exploration Results, weighting averaging techniques, aggregation maximum and/or minimum grade truncations (eg cutting of high methods 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

Commentary

Intercepts > or equal to 1m down hole Co thickness, with > or equal to 0.05% Co, > or equal to 0.05% Co cut-off & < or equal to 3m internal dilution parameters were used to calculate down hole Co-Cu-Au intercepts.

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Table 1: Checklist of Assessment and Reporting Criteria

17 [th] January, 2018

Mt Gilmore Project, New South Wales, Australia.

RC and Core Drilling – September - November 2017

Criteria	JORC Code explanation	JORC Code explanation	Commentary
		should be clearly stated.
Relationship		These relationships are particularly important in the reporting of	All drill hole intervals provided are down hole widths.
between mineralisation widths and		Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.	Drilling has been planned such that it is perpendicular to the main mineralised trend as defined by historical work.
intercept		If it is not known and only the down hole lengths are reported, there	Mineralised zones are interpreted to be sub-vertical. Drilling has collar
lengths		should be a clear statement to this effect (eg ‘down hole length, true	dips of 600 into these zones.
		width not known’).
Diagrams		Appropriate maps and sections (with scales) and tabulations of	All diagrams include scales for reference (if appropriate).
		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.
Balanced		Where comprehensive reporting of all Exploration Results is not	Noted and complied with.
reporting		practicable, representative reporting of both low and high grades
		and/or widths should be practiced to avoid misleading reporting of
		Exploration Results.
Other		Other exploration data, if meaningful and material, should be reported	Historical exploration results have been previously reported by Corazon
substantive		including (but not limited to): geological observations; geophysical	Mining Limited. This work included rock-chip sampling, soil
exploration		survey results; geochemical survey results; bulk samples – size and	geochemistry, geophysics and drilling. Reliance has been placed on
data		method of treatment; metallurgical test results; bulk density,	historical reports as an indicator of potential only.
		groundwater, geotechnical and rock characteristics; potential
		deleterious or contaminating substances.
Further work		The nature and scale of planned further work (eg tests for lateral	Additional analysis of this drilling will provide a better understanding of
		extensions or depth extensions or large-scale step-out drilling).	the mineralised trends and mineralisation processes that will be used in
		Diagrams clearly highlighting the areas of possible extensions,	future interpretation and modelling at Cobalt Ridge.
		including the main geological interpretations and future drilling areas,
		provided this information is not commercially sensitive.

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