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CORE LITHIUM LTD Capital/Financing Update 2013

Dec 3, 2013

64737_rns_2013-12-03_a625a823-66df-4d72-95b0-b3a75ed750e7.pdf

Capital/Financing Update

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ASX ANNOUNCEMENT

ASX : CXO

4[th] December 2013

IP DRILL TARGETS FOUND UNDER HIGH GRADE SILVER

BLUEYS, NT

HIGHLIGHTS

  • IP drill targets identified below very high levels of silver at surface at Blueys and Inkheart Prospects

  • Confirmed drill targets show strong correlation between:

  • High-grade silver mineralisation at surface

  • High silver, copper and lead in soils at surface

  • Chargeable IP anomalies at depth

  • Targets now ready for RC Drilling planned for early 2014

Core Exploration Ltd.’s (ASX: CXO) recent Induced Polarisation (IP) geophysical survey has identified highly prospective drill targets at both the Blueys and Inkheart Prospects within the Company’s larger Albarta Project in the Northern Territory.

Core believes that these new IP targets in combination with high silver in soil and high-grade rock chip results are a very strong indicator of significant mineralisation at depth (Figures 2- 6). In anticipation of these positive results, Core has already commenced processes to enable drilling at Blueys and Inkheart as early as possible in 2014.

The bulk of the chargeable IP targets appear to be between 75-150m depth and are underlying silver (± copper ± lead) soil anomalism and mineralised rocks at surface (Figures 2-6). Drilling has never been conducted to these depths at Blueys so these targets are untested.

Previous mapping and rock chip sampling at Blueys has identified a broad zone of pervasive stock-work veining associated with malachite and azurite (copper) and argentiferous galena (lead/silver) minerals at surface. Rock chip samples from sampling at Blueys graded up to 4,065 g/t silver (Ag), 8% copper (Cu) and 25% Lead (Pb) (Figure 1 and Table 1).

Core’s recent soil results have also defined an exceptionally high core of silver anomalism at Blueys and Inkheart Prospects (Figure 1).

A Level 2, 143 Hutt St, Adelaide SA 5000 | T (08) 7324 2987 | F (08) 8312 2002 | E [email protected] www.coreexploration.com.au

Soils at Blueys have defined a sizeable silver footprint of 700m x 400m with a peak of 25,250ppb silver. Very high silver in soils has also been defined at Inkheart Prospect over a distance of 2,000m with a peak of 19,552ppb Ag. These very high values are spectacular when considering that 100ppb is commonly regarded as anomalous silver in soils (Figure 1).

Core’s recent soil results have also confirmed a strong correlation between lead and copper in soils and the high silver anomalism that characterise both the Blueys and Inkheart Prospects.

The Blueys and Inkheart Prospects (EL 28136) are within Core’s Albarta Project that covers over 2,000km[2] of the newly recognised, highly prospective IOCG Aileron Province, 100km NE of Alice Springs in the NT. Core’s tenements include a number of significant copper (+ silver) occurrences. Core is currently earning a 51% interest in EL 28136 and has also has the right to purchase a 100% interest in the tenement at any stage.

Induced Polarisation (IP)

Induced Polarisation (IP) is a geophysical technique that involves transmitting electrical current into the ground. From measurements of the induced potential field the chargeability and resistivity of the subsurface rocks can be calculated. In comparison to Electro-Magnetics (EM), IP measures a different physical property of the rock.

In this instance, Core is utilising IP to measure the potential level of sulphides in the rock.

Next Steps

Core is currently planning to commence an RC drilling program as early as possible in 2014, subject to having required approvals in hand. To this effect the company has commenced the process of securing land access approvals to enable the drilling program to proceed.

Core is currently undertaking further modelling of the IP data and will update the market regarding the details of the upcoming drill program in due course. The depth, dimension and intensity of the chargeable features will be better defined through further processing of the data.

For further information please contact:

Stephen Biggins John Field
Managing Director Field Public Relations
Core Exploration Ltd
08 7324 2987 08 8234 9555
[email protected] [email protected]

A Level 2, 143 Hutt St, Adelaide SA 5000 | T (08) 7324 2987 | F (08) 8312 2002 | E [email protected] www.coreexploration.com.au

The information in this report that relates to Exploration Results and Mineral Resources is based on information compiled by Stephen Biggins (BSc(Hons)Geol, MBA) as Managing Director of Core Exploration Ltd who is a member of the Australasian Institute of Mining and Metallurgy and is bound by and follows the Institute’s codes and recommended practices. He has sufficient experience which is relevant to the styles of mineralisation and types of deposits under consideration and to the activities 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. Biggins consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

==> picture [449 x 343] intentionally omitted <==

----- Start of picture text -----

INKHEART
BLUEYS
----- End of picture text -----

Figure 1. Location of IP lines, all rock chip samples with samples over 100ppm Ag highlighted and silver in soil displayed, Blueys and Inkheart Prospects, EL 28136 Northern Territory.

A Level 2, 143 Hutt St, Adelaide SA 5000 | T (08) 7324 2987 | F (08) 8312 2002 | E [email protected] www.coreexploration.com.au

==> picture [462 x 630] intentionally omitted <==

Figures 2 & 3. Silver in soils and IP chargeability cross-section, Lines 2300N & 2500N

A Level 2, 143 Hutt St, Adelaide SA 5000 | T (08) 7324 2987 | F (08) 8312 2002 | E [email protected] www.coreexploration.com.au

==> picture [453 x 639] intentionally omitted <==

Figures 4 & 5. Silver in soils and IP chargeability cross-section, Lines 2700N & 2850N

A Level 2, 143 Hutt St, Adelaide SA 5000 | T (08) 7324 2987 | F (08) 8312 2002 | E [email protected] www.coreexploration.com.au

==> picture [452 x 438] intentionally omitted <==

Figure 6. Silver in soils and IP chargeability cross-section, Line 3850N, Inkheart

A Level 2, 143 Hutt St, Adelaide SA 5000 | T (08) 7324 2987 | F (08) 8312 2002 | E [email protected] www.coreexploration.com.au

SampleID
1125
1126
1127
Easting
474247
474200
474171
Northing
7400455
7400524
7400460
Prospect
Blueys
Blueys
Blueys
Ag g/t
7.83
3.64
2.45
Cu %
0.01
0.02
0
1128
1129
1130
473343
473342
473600
7401980
7402064
7401937
Blueys
Blueys
Bl
0.13
0
0
0
0
0

1131
1132
1133
1134
1135
1160
1161
1162
1163
1164
1165
1166
1167
1168
BL1
BLRK00001
BLRK00002
BLRK00003
BLRK00004
BLRK00005
BLRK00006
BLRK00007
BLRK00008
BLRK00009
BLRK00010
BLRK00011
BLRK00012
BLRK00013
BLRK00014
BLRK00015
BLRK00016
BLRK00017
BLRK00018
BLRK00019
BLRK00020
BLRK00021

473927
474164
474109
474093
474453
474394
474401
474409
474419
474167
474168
474158
474114
474107
474646
474584
474574
474580
474575
474598
474594
474600
474582
474573
474563
474567
474567
474568
474529
474530
474555
474567
474567
474562
474582
474586

7400766
7400475
7400476
7400341
7400499
7400525
7400538
7400541
7400529
7400427
7400430
7400427
7400473
7400475
7400487
7400495
7400493
7400505
7400505
7400515
7400517
7400523
7400525
7400530
7400534
7400538
7400596
7400593
7400614
7400614
7400621
7400639
7400639
7400698
7400719
7400691
ueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys

0.07
8.68
43.16
1.61
12.85
8.3
5.5
4.7
3.9
1.2
2.9
3.4
1533
6.8
2200
1.7
0.9
0.3
1.2
1
1.4
0.9
0.2
0
0.2
0.2
0
0
0
0
0
0
0
0.8
0
0

0.01
0.01
0.05
0
0.07
0.02
0.02
0.01
0.01
0.01
0.02
0.02
0.48
0.04
4.43
0
0
0.01
0
0
0
0
0
0
0
0.01
0
0.03
0.02
0.01
0
0
0
0
0
0

A Level 2, 143 Hutt St, Adelaide SA 5000 | T (08) 7324 2987 | F (08) 8312 2002 | E [email protected] www.coreexploration.com.au

SampleID
BLRK00022
BLRK00023
BLRK00024
Easting
474594
474595
474614
Northing
7400680
7400679
7400670
Prospect
Blueys
Blueys
Blueys
Ag g/t
0
0
344.7
Cu %
0
0
0.62
BLRK00025
BLRK00026
BLRK00027
474600
474639
474688
7400664
7400618
7400698
Blueys
Blueys
Bl
1.6
0
0
0
0
0

BLRK00028
BLRK00029
BLRK00030
BLRK00031
BLRK00032
BLRK00033
BLRK00034
BLRK00035
BLRK00036
BLRK00037
BLRK00038
BLRK00039
BLRK00040
BLRK00041
BLRK00042
BLRK00043
BLRK00044
BLRK00045
BLRK00046
BLRK00047
BLRK00048
BLRK00049
BLRK00050
BLRK00051
BLRK00052
BLRK00053
BLRK00054
BLRK00055
BLRK00056
BLRK00057
BLRK00058
BLRK00059
BLRK00060
BLRK00061
BLRK00062
BLRK00063

474681
474685
474683
474642
474694
474595
474598
474586
474570
474565
474561
474553
474560
474551
474543
474536
474536
474525
474521
474506
474501
474511
474516
474477
474514
474451
474417
474363
474377
474500
474495
474484
474444
474473
474480
474489

7400725
7400724
7400723
7400736
7400672
7400461
7400470
7400477
7400452
7400471
7400476
7400460
7400486
7400503
7400528
7400537
7400543
7400563
7400555
7400578
7400574
7400588
7400590
7400656
7400654
7400622
7400647
7400580
7400589
7400525
7400530
7400544
7400546
7400542
7400563
7400518
ueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys

1.6
0.1
0.1
0
0
33.7
95.6
4.5
9.1
21.5
2.5
7.8
467.4
7.5
4.1
20
56.7
10.6
43.2
242.4
25.8
1.5
0.1
1.4
0.9
9.4
2.5
0.5
0.9
21.4
23.8
6.2
4.3
2.3
4.7
10.1

0.01
0.01
0
0
0.01
0.02
0.05
0.01
0.01
0.02
0.05
0.01
0.74
0.01
0
0.03
0.04
0.02
0.09
0.23
0.05
0
0
0.01
0
0.01
0
0
0
0.03
0.01
0
0
0.01
0
0.02

A Level 2, 143 Hutt St, Adelaide SA 5000 | T (08) 7324 2987 | F (08) 8312 2002 | E [email protected] www.coreexploration.com.au

SampleID
BLRK00064
BLRK00065
BLRK00066
Easting
474499
474497
474502
Northing
7400537
7400521
7400525
Prospect
Blueys
Blueys
Blueys
Ag g/t
3.5
32.6
13.3
Cu %
0
0.02
0
BLRK00067
BLRK00068
BLRK00069
474511
474511
474513
7400523
7400522
7400518
Blueys
Blueys
Bl
19.1
13.6
346
0.01
0.02
002

BLRK00070
BLRK00071
BLRK00072
BLRK00073
BLRK00074
BLRK00075
BLRK00076
BLRK00077
BLRK00078
BLRK00079
BLRK00080
BLRK00081
BLRK00082
BLRK00083
BLRK00084
BLRK00085
BLRK00086
BLRK00087
BLRK00088
BLRK00089
BLU011
BLU012
BLU013
1101
1102
1103
1104
1105
1106
1107
1108
1109
1110
1111
1112
1113

474525
474522
474485
474486
474480
474449
474453
474455
474431
474416
474386
474494
474510
474501
474498
474515
474635
474639
474638
474686
474583
474645
474645
474811
474807
474985
475001
474998
475208
475208
475231
475261
475268
475303
475393
475377

7400522
7400527
7400501
7400491
7400496
7400510
7400514
7400518
7400542
7400541
7400489
7400455
7400466
7400474
7400474
7400470
7400465
7400462
7400472
7400415
7400497
7400491
7400491
7401354
7401352
7401617
7401602
7401588
7401597
7401597
7401595
7401589
7401579
7401838
7401620
7401611
ueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Blueys
Inkheart
Inkheart
Inkheart
Inkheart
Inkheart
Inkheart
Inkheart
Inkheart
Inkheart
Inkheart
Inkheart
Inkheart
Inkheart
.
20.5
7.7
555
52.5
14.1
43
11.2
7.6
2.7
12.4
36.5
4.2
3.4
2.7
4.9
4.3
0.3
0
0.7
0
4065
1151
1262
29.52
28.73
7.99
3.12
47.33
2.99
1.95
3.3
1.35
0.64
0.14
0.57
6.12

A Level 2, 143 Hutt St, Adelaide SA 5000 | T (08) 7324 2987 | F (08) 8312 2002 | E [email protected] www.coreexploration.com.au

SampleID
1114
1115
1116
Easting
475340
475356
474758
Northing
7401538
7401508
7401256
Prospect
Inkheart
Inkheart
Inkheart
Ag g/t
0.65
0.46
4.4
Cu %
0
0
0.01
1117
1118
1119
474656
474508
474514
7401200
7401111
7401112
Inkheart
Inkheart
Ikht
2.37
1.02
074
0.03
0.02
001

1120
1121
1122
1123
1124
1136
1137
1138
1139
1140
1141
1142
1143
1144
1145
1146
1147
1148
1149
1150
1169
1170
1171
1172
1173
1174
1175
1176
Ink Gossan

474523
474522
474634
474674
474769
473750
473796
473847
474196
474196
474196
474347
474605
474656
474698
475005
474803
475395
475348
475103
475099
475098
475099
475149
475106
475102
475288
475303
474895

7401104
7401108
7401092
7401116
7401155
7400596
7400532
7400669
7401049
7401049
7401049
7401200
7401260
7401156
7401251
7401251
7401349
7401601
7401600
7401721
7401529
7401530
7401549
7401615
7401716
7401717
7401775
7401479
7401414
near
Inkheart
Inkheart
Inkheart
Inkheart
Inkheart
Inkheart
Inkheart
Inkheart
Inkheart
Inkheart
Inkheart
Inkheart
Inkheart
Inkheart
Inkheart
Inkheart
Inkheart
Inkheart
Inkheart
Inkheart
Inkheart
Inkheart
Inkheart
Inkheart
Inkheart
Inkheart
Inkheart
Inkheart
Inkheart
.
1.47
0.75
1.91
1.18
0.79
2.3
0.6
0.3
0.2
0
0.6
0.7
1.4
0.3
2.7
0
0.4
0.1
0.2
11
9.7
3.5
2.2
17.8
7.8
10.1
6.9
0.3
10.9
.
0.03
0.01
0.06
0.02
0
0.02
0.01
0
0
0
0
0
0
0.01
0
0
0.05
0
0
0.18
0.03
0.07
0.01
0.03
0.27
0.24
0.01
0.01
0.01

Table 1. All recently collected surface rock chip results from Blueys and Inkheart Prospects, Albarta Project, NT. Ag: 4A/MS 4 Acid Digest Mass Spectrometry: Cu: 4A/OE 4 Acid Digest Inductively Coupled Plasma Optical Emission Spectrometry. The presence of this mapped surface mineralisation and alteration may or may not extend at depth and this can only be confirmed by drilling.

A Level 2, 143 Hutt St, Adelaide SA 5000 | T (08) 7324 2987 | F (08) 8312 2002 | E [email protected] www.coreexploration.com.au

APPENDIX 1

TABLE 1: AIRCORE DRILLING RESULT REPORTING – JORC 2012 Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria JORC Code explanation Commentary
Sampling Nature and quality of sampling (eg cut channels, random chips, or Rock Chip sampling was undertaken as part of reconnaissance
techniques specific specialised industry standard measurement tools appropriate mapping and prospecting. Samples were taken when visible
to the minerals under investigation, such as down hole gamma mineralisation was observed as well as when newly identified
sondes, or handheld XRF instruments, etc). These examples should lithological units, alteration or veining was observed.
not be taken as limiting the broad meaning of sampling. Soil sampling was collected on 200m × 200m spacing on a broad grid
Include reference to measures taken to ensure sample representivity and 50m × 50m spacing over the Blueys and Inkheart prospect areas.
and the appropriate calibration of any measurement tools or systems A hand shovel was used to dig a ~30cm deep hole then the soil from
used. the bottom of the hole was sieved in a 20µm sieve and collected for
Aspects of the determination of mineralisation that are Material to the assay.
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.
Drilling Drill type (eg core, reverse circulation, open-hole hammer, rotary air N/A
techniques blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple
or standard tube, depth of diamond tails, face-sampling bit or other
_type, whether core is oriented and if so, by what method, etc). _
Drill sample Method of recording and assessing core and chip sample recoveries N/A
recovery and results assessed.
Measures taken to maximise sample recovery and ensure
representative nature of the samples.

A Level 2, 143 Hutt St, Adelaide SA 5000 | T (08) 7324 2987 | F (08) 8312 2002 | E [email protected]

www.coreexploration.com.au

Criteria
JORC Code explanation
Commentary
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
geotechnically logged to a level of detail to support appropriate
Mineral Resource estimation, mining studies and metallurgical
studies.
Whether logging is qualitative or quantitative in nature. Core (or
costean, channel, etc) photography.
The total length andpercentage of the relevant intersections logged.
N/A
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.
N/A
Quality of
assay data
and
laboratory
tests
The nature, quality and appropriateness of the assaying and
laboratory procedures used and whether the technique is considered
partial or total.
For geophysical tools, spectrometers, handheld XRF instruments, etc,
the parameters used in determining the analysis including instrument
make and model, reading times, calibrations factors applied and their
derivation, etc.
Nature of quality control procedures adopted (eg standards, blanks,
duplicates, external laboratory checks) and whether acceptable levels
 Rock Chip samples were sent to Genalysis for 4A/MS 4 Acid Digest Mass
Spectrometry: and 4A/OE 4 Acid Digest Inductively Coupled Plasma Optical
Emission Spectrometry.
 Soil samples were sent to Genalysis for TL7 which is very weak hydrochloric
acid partial digest, then Cu, Pb, and Zn were analysed using AAS and Ag was
analysed for using a ICP-MS.

A Level 2, 143 Hutt St, Adelaide SA 5000 | T (08) 7324 2987 | F (08) 8312 2002 | E [email protected]

www.coreexploration.com.au

Criteria
JORC Code explanation
Commentary
of accuracy (ie lack of bias) andprecision have been established.
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.
N/A
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 coordinate information was collected using hand held GPS utilising
GDA 94, Zone 53.
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.
Soil samples have been collected on 200m spacing and then infilled
at 50m spacing over anomalous results
Rock chips samples were taken when visible mineralisation was
observed as well as when newly identified lithological units, alteration
or veining was observed
IP
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.
N/A
Sample
security
The measures taken to ensure sample security.
N/A
Audits or
reviews
The results of any audits or reviews of sampling techniques and data.
N/A

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Section 2 Reporting of Exploration Results

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

Criteria JORC Code explanation Commentary
Mineral Type, reference name/number, location and ownership including  Blueys and Inkheart prospects are located within EL 28136. EL 28136 is
tenement agreements or material issues with third parties such as joint currently held by Bralich Holdings PTY LTD (50%) and Gempart (NT) PTY LTD
and land ventures, partnerships, overriding royalties, native title interests, (50%). Core Exploration LTD has a joint venture agreement with Bralich and
tenure status historical sites, wilderness or national park and environmental Gempart on tenements EL 27369, EL 27709, EL 28029, EL 28136 and EL
settings. 2854 on which; Core may earn an initial 51% joint venture interest by
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.
spending $225,000 on exploration during the first 2 years; Core may earn an
additional 29% joint venture interest (total of 80%) by spending an
additional $200,000 (total of $425,000) over an additional 2 years (total of 4
years); If Core acquires 80% interest, then vendors remaining 20% joint
venture interest will be free carried to completion of a bankable feasibility
study; Core has an option to acquire a 100% interest in the tenements at a
price equal to the greater of $1,000,000 and a value determined by an
independent expert. The EL was granted on 16/2/2011 and has a current
expiry of 15/2/2017.
Exploration Acknowledgment and appraisal of exploration by other parties.  The Blueys prospect was discovered during regional mapping by Geopeko in
done by 1983. Two phases of relatively shallow drilling has been undertaken at the
other parties prospect since then. An airtrack percussion 9 hole for 178m program was
undertaken by Petrocarb Exploration in 1986. A reverse circulation drilling
program was undertaken by Silver Standard in 2001 consisting of 11 holes
for 433m. Both airborne and ground based electromagnetic surveys have
been collected by previous explorers.
Geology Deposit type, geological setting and style of mineralisation.  The geology of EL 28136 is dominated by rocks of the Aileron Province and
basal units of the Neoproterozoic Amadeus Basin. At Blueys amphibolites
are common as the Aileron Province unit which contacts dolomites,
dolomitic silt and sandstones of the Neoproterozoic Bitter Springs
Formation. HeavitreeQuartzite is alsopresent makingupthe western

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Criteria
JORC Code explanation
Commentary
contact of the Inkheart soil anomaly. The area was deformed during the
Alice Springs Orogeny (300-400Ma)formingNappe structures in the area.
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.
N/A
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.
N/A
Relationship
between
mineralisatio
n 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’).
As the geochemical results thus far collected by Core Exploration are
from surface, Any potential depths of mineralisation or orientations
can only be inferred from geological observations on the surface and
hence are speculative in nature.
Diagrams
Appropriate maps and sections (with scales) and tabulations of
See figures in release

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Criteria
JORC Code explanation
Commentary
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
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.
Displaying details of all rock chips collected in parts of the Blueys
prospect is impractical due to the scale of sampling, as such figure 1
displays the geographic locations of all samples that are listed in
Table 1, the highlighted samples are those samples which had
>100ppm Ag, all sample coordinates and assays are provided in the
Table 1.
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.
See release details
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.
Core plans to undertake a reverse circulation drill program to test the
collected surface geochemical results as well as the results of the IP
survey in 2014,

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