DALAROO METALS LTD — Regulatory Filings 2021

Dec 6, 2021

==> picture [595 x 110] intentionally omitted <==

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

ASX ANNOUNCEMENT
7 December 2021
----- End of picture text -----

High-order PGE* results from initial geochemical sampling at Namban Project, WA

Highlights

• Strong PGE-Ni-Cu geochemical anomalism (Cattady anomaly) defined by wide-spaced geochemical sampling confirming exploration potential within the 437 km[2 ] Namban Project area:

  • Cattady PGE-Ni-Cu anomaly with PGE values of up to 97ppb and peak anomalous values of 642 ppm Ni and 226 ppm Cu defined over a 1km strike length. This emerging anomaly remains open along strike.

• Follow up 50 X 50m infill and strike extension geochemical sampling underway at the newly identified Cattady anomaly.

• Third UAV drone airborne magnetics survey has identified additional areas of interest adjacent to Metals 260 Ltd Mallory anomaly.

• Systematic geochemical surveys to commence over magnetic intrusive target areas, once grain crops have been harvested.

• *PGE: Platinum Group Elements – palladium (Pd) and platinum (Pt)

Dalaroo Metals Ltd ( ASX: DAL , “Dalaroo” or “Company”) is pleased to report encouraging results from its initial wide-spaced, first pass geochemical sampling programme from its Namban Project located ~ 150km north-northeast of Perth and adjacent to the regional centre of Moora in Western Australia (Figure 1 and 4).

The auger geochemical sampling programme totalled 81 samples covering an area of 1.0km by 1.5km. No modern systematic exploration has been undertaken over this area of the Archaean age Jimperding Metamporhic Belt prior to this very recent work by Dalaroo.

The Cattady PGE-Ni-Cu Anomaly is defined by sample spacing of 200 X 100m. Multi-element assays have delineated the Cattady anomaly covering an area of 1.0 X 0.25km with a peak Pd value of up to 82ppb associated with anomalous Pt values of up to 15 ppb for combined PGE value of 97ppb (Figures 2 and 3). Surrounding the geochemical anomaly the Pd and Pt values are complemented by values of up to 642ppm Ni and 226ppm Cu (Figure 3).

“The anomaly coincides with a broad residual lateritised topographic high, trending in a northsouth direction. Residual laterite is commonly observed in the Jimperding Metamporhic Belt as the surface expression of underlying mafic and ultramafic lithologies,” said Mr Harjinder Kehal, Managing Director of Dalaroo Metals.

==> picture [596 x 58] intentionally omitted <==

==> picture [105 x 70] intentionally omitted <==

“There is a lot of interest in this emerging PGE-Ni-Cu province and our results confirm the potential of the region and especially with the recent new Julimar 10 Moz Pd-Pt-Ni-Cu discovery, a strategic deposit of critical ‘green metals’ used in the creation, storage and transport of renewable energy,” said Mr Harjinder Kehal, Managing Director of Dalaroo Metals.

Upcoming Exploration Milestones

Infill sampling on a 50 X 50m grid over the Cattady PGE-Ni-Cu anomaly has commenced in December. With the grain harvest nearing completion over the Namban Project area, large areas will now become available for a systematic geochemical sampling programme. Priority sampling will test the north-south strike extent of the Cattady PGE-Ni-Cu anomalous zone. First pass geochemical sampling of additional targets generated from the recent detailed UAV airborne magnetic surveys will follow in early January, 2022.

==> picture [594 x 35] intentionally omitted <==

==> picture [105 x 70] intentionally omitted <==

==> picture [400 x 513] intentionally omitted <==

Figure 1: Namban Project – Cattady PGE anomaly location and drone survey identified magnetic targets.

==> picture [594 x 35] intentionally omitted <==

==> picture [105 x 70] intentionally omitted <==

==> picture [452 x 531] intentionally omitted <==

Figure 2: Cattady anomaly – Images of PGE (Pd+Pt) and Ni geochemical results overlain on recently flown drone 1[st] Vertical Derivative magnetic data image.

==> picture [594 x 35] intentionally omitted <==

==> picture [105 x 70] intentionally omitted <==

==> picture [452 x 293] intentionally omitted <==

Figure 3: Cattady Anomaly – Images of PGE (Pd+Pt) and Ni geochemical results.

ENDS

For more Information:

Please visit our website for more information: www.dalaroometals.com.au Harjinder Kehal, Managing Director on +61 400 044 890

Authorised for release to the ASX by the Board of Dalaroo Metals Ltd.

COMPETENT PERSON

The information in this report that relates to Exploration results is based on information compiled by Dalaroo Metals Ltd and reviewed by Mr Harjinder Kehal who is the Managing Director of the Company and is a Registered Practicing Geologist and Member of the AusIMM and AIG. Mr Kehal has sufficient experience that is relevant to the style of mineralisation, the type of deposit under consideration and to the activities 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 Kehal consents to the inclusion in this report of the matters based on this information in the form and context in which it appears.

==> picture [594 x 35] intentionally omitted <==

==> picture [105 x 70] intentionally omitted <==

About the Namban Project

Namban Project comprises an under explored ground package totalling 437km[2] located in the mid-north part of the wheatbelt region, deemed by Dalaroo to be prospective for magmatic intrusion related Ni-Cu-PGE deposits. Project tenements cover a strike distance of 60 km, adjacent to the crustal-scale Darling Fault, on the western margin of the Archaean Yilgarn Craton. The Company has a 100% controlling interest comprising six tenements extending from the townships of Moora in the south to Three Springs in the north (Figure 4).

==> picture [391 x 469] intentionally omitted <==

Figure 4 : Namban Project tenements location map.

==> picture [594 x 35] intentionally omitted <==

==> picture [105 x 70] intentionally omitted <==

Appendix 1: Dalaroo Metals Ltd – Namban Project - JORC Code Edition 2012: Table 1

Section 1: Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections)

Criteria	JORC Code explanation	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 down hole gamma sondes, or handheld x-ray fluorescence (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.	No drilling completed by Dalaroo Auger samples collected from 0.6 – 1m depth with 0.5-1kg collected for assay. Magnetic survey locations were measured with a dual frequency GNSS receiver operating in autonomous mode, with x,y,z accuracies accurate to better than 1-2m. Elevations were derived using a laser altimeter. Entire sample is submitted for sample prep and assay A UAV survey was conducted on 50m line spacing and 25m sensor height by Atlas Geophysics using PAS-H100 Rotary Wing helicopter. The magnetic data was collected using a Scintrex CS-VL Cesium Vapour magnetometer with the following parameters: • Sensitivity 0.0006nT sq rt RMS • Noise envelope 0.002nT peak to peak • Headingerror +/_0.25nT
Drilling techniques	Drill type (e.g. core, reverse circulation, open- hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. 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.).	No drilling results reported.
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.	No drilling results reported. No drilling results reported. No drilling results reported.

==> picture [594 x 35] intentionally omitted <==

==> picture [105 x 70] intentionally omitted <==

Criteria	JORC Code explanation	Commentary
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.	No drilling results reported. No drilling results reported.
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.	No core drilling completed No core drilling completed. Sample preparation of samples follows industry best practice standards and is conducted by internationally recognized laboratories; i.e Oven drying, jaw crushing and pulverising so that 90% passes -75 microns No drilling results reported. Auger sampling completed on a regular grid spacings to ensure representative sampling of area being assessed. Entire sample submitted for assay.

==> picture [594 x 35] intentionally omitted <==

==> picture [105 x 70] intentionally omitted <==

Criteria	JORC Code explanation	Commentary
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 (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.	Assay and laboratory procedures have been selected following a review of techniques provided by internationally certified laboratories Dalaroo samples are submitted for multi- element analyses by Bureau Veritas using fire assay and 4-acid digest The assay techniques used are total Tie lines were flown to analyse the cross overs and assist with levelling the magnetic survey. Lab standards checked for accuracy and precision
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.	None undertaken. None drilled. All field data is manually collected, entered into excel spreadsheets, validated and loaded into Access database and processed by a number of different exploration software. None required

==> picture [594 x 35] intentionally omitted <==

==> picture [105 x 70] intentionally omitted <==

Criteria	JORC Code explanation	Commentary
Location of data points	Accuracy and quality of surveys used to locate drillholes (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.	All samples collected are located using a handheld GPS. Magnetic survey locations were measured with a dual frequency GNSS receiver operating in autonomous mode, with x,y,z accuracies accurate to better than 1-2m. Elevations were derived using a laser altimeter. Grid system used for geochemical sampling is GDA94 Zone 50 Magnetic survey sample locations were collected and reported using the WGS84_UTM grid system. For geochemical sampling nominal RLs based on regional topographic data sets and handheld GPS. Magnetic survey altitude measurements were measured with a laser altimeter with accuracies better than 1cm.
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.	First pass sampling on 200m X 100m spacing based on geology/structural framework. MRE not being reported.
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.	The location within the Jimperding Metamporhic Belt where the magnetic surveys were undertaken includes an areas with N-S and NW- SE magnetic grain and cross-cutting magnetic bodies, and N-S and NW-SE faults. The survey grids are unbiased. No drilling results reported.

==> picture [594 x 35] intentionally omitted <==

==> picture [105 x 70] intentionally omitted <==

Criteria	JORC Code explanation	Commentary
Sample security	The measures taken to ensure sample security.	Senior personnel supervise sampling and transport to assay laboratory in Perth All magnetic data is digitally stored by the contractor andgeophysical consultant.
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	For geochemical sampling non completed Magnetic data has been independently checked by geophysical consultant Core Geophysics.

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.	The Namban Project tenements are wholly owned by Dalaroo Metals Limited (Dalaroo) The Project is located 150km north of Perth on freehold land. Tenure in the form of Exploration Licences with standard 5-year expiry dates which may be renewed. The Competent Person is unaware of any impediments to development of these tenements.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	No known exploration in Archaean age Jimperding Metamporhic Belt, area covered by Proterozoic rocks explored for potash with geological mapping and rock chip sampling. Government DMIRS 200m spaced airborne magnetics and radiometrics data has been included.
Geology	Deposit type, geological setting, and style of mineralisation.	The primary mineralisation style being sought is nickel-copper-PGE (Ni-Cu-PGE) intrusive related deposits such as Julimar
Drillhole 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 • down hole length and interception depth • hole length. If the exclusion of this information is justified on the basis that the information is not Material	No drilling results reported. No drilling results reported.

==> picture [594 x 35] intentionally omitted <==

==> picture [105 x 70] intentionally omitted <==

Criteria	JORC Code explanation	Commentary
	and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.
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.	No drilling results reported. No metal equivalent values have been 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 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’).	No drilling results reported. No drilling results reported.
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.	Appropriate diagrams are included in the main body of this report.
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.	Reporting of the magnetic results is considered balanced.
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.	No additional meaningful and material exploration data has been excluded from this report.

==> picture [594 x 35] intentionally omitted <==

==> picture [105 x 70] intentionally omitted <==

Criteria	JORC Code explanation	Commentary
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.	Structural and geophysical integration of data. Infill and extension geochemical sampling. Geological/regolith mapping Drill testing (aircore and or RC percussion drilling) will be undertaken on priority targets identified. These diagrams are included in the main body of this report.

==> picture [594 x 35] intentionally omitted <==