DREADNOUGHT RESOURCES LTD - Capital/Financing Update 2014

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Australian Securities Exchange Announcement

13 Nov e mber 201 4

ASX M a rket Anno u ncements Australi a n Securiti e s Exchange 20 Brid g e Street SYDNEY NSW 2000

High Grade Gold Results – Redback Prospect, Spargoville WA

 High Grade Gold Results from Redback RC Drilling

4m @ 29.1g/t Au from 160m
4m @ 10.7g/t Au from 132m
8m @ 7.20g/t Au from 108m incl 4m @ 9.84g/t Au
8m @ 4.55g/t Au from 92m incl 4m @ 7.43g/t Au
4m @ 5.42g/t Au from 132m
12m @ 4.17g/t Au from 120m incl 4m @ 6.70g/t Au
High grade Eastern Zone mineralisation has now been intersected over a collective strike extent of 100 metres and remains open in several directions
Follow up and Infill RC Drilling to commence mid-November – ~3,000m

Tychea n Resourc e s Ltd (ASX : TYK) ( Tychean or Company ) is pleased to announce t hat assay results f rom its late s t drilling p r ogram hav e returned h igh grade g old interce p ts. The re s ults follow receipt of all com p osite res u lts from R e verse Cir c ulation (R C ) Drilling at the Re d back and Trapdo o r prospec t s and all s ingle metr e split res u lts from t h e close s p aced Airc o re drilling comple t ed at the C ore Farm P aleochann e l Prospec t . Both Drilling camp a igns were c ompleted during O ctober 2 0 14 and ar e located w ithin the C ompany’s wholly ow n ed Sparg o ville Gold Project (Figure 1), i n the East e rn Goldfiel d s of West e rn Australi a .

Redback and Trapdoor RC Drilling

The RC drilling programme at the Redback and Trapdoor prospects comprised 28 holes for 3,961 metres, (Figure 2), to follow up highly significant results and mineralised trends identified from recent drilling at both of these prospects, including 4m @ 7.46g/t Au from 113m and 3m @ 17.5g/t Au from 93m. The majority of the completed drilling at the Redback prospect focused on extending the high grade mineralisation immediately to the north of previous drilling at a drill spacing of 20 metre x 20 metre. Follow up drilling completed at Trapdoor was designed to infill and extend previous anomalous drilling to an initial 20 metre x 40 metre drill spacing.

The results from the four metre composite samples at the Redback prospect show extensions to the high grade mineralisation to the north for another 40 metres by the receipt of intercepts including 4 metres at 5.42g/t Au from 132 metres, (SPRC069), 4 metres at 10.7g/t Au from 132 metres, (SPRC071) and 4 metres at 29.1g/t Au from 160 metres, (SPRC087) . The above intercepts are interpreted to be associated with the Eastern Zone mineralised trend within ultramafic lithologies adjacent to or at the contact with a felsic intrusive to the east. On cross section 6527290mN, (Figure 3), it can be interpreted that the high grade gold mineralisation is associated with a new ‘Central Zone’ of mineralisation which may comprise a linking structure between the Eastern and Western Zone mineralised trends. The high grade mineralisation at this location remains open to the north along strike and down dip and plunge.

The northern drill line at Redback returned further high grade mineralisation of 8 metres at 4.55g/t Au from 92 metres including 4 metres at 7.43g/t Au from 92 metres, (SPRC080) which is interpreted to be associated with a separate trend to the high grade mineralisation to the south. This mineralisation remains open to the north along strike and down dip and any potential northerly plunge.

Further high grade gold mineralisation has also been intersected to the south of the previous high grade results including assays of 8 metres at 7.20g/t Au from 108 metres including 4 metres at 9.84g/t Au from 108 metres, (SPRC076) and 12 metres at 4.17g/t Au from 120 metres including 4 metres at 6.70g/t Au from 124 metres, (SPRC075) . This mineralisation is also interpreted to be a separate zone of Eastern zone mineralisation which remains open down dip.

High grade Eastern Zone mineralisation has now been intersected within RC drilling over a collective strike extent of 100 metres at Redback. This mineralisation remains open in several directions and will be evaluated by an RC drilling programme comprising 20 drill holes for approximately 3,000 metres and which is expected to commence mid-November.

Approximately 1,300 metres of the planned RC drilling will be orientated at infilling existing RC drilling to a drill spacing of 10 metres x 20 metres. This drill spacing is essential as it will assist with the evaluation of the potential for very high grade gold zones (>100g/t Au), which were an important factor in the mineralisation at the Wattle Dam Gold Mine, albeit, occurring over a limited strike extent and were very patchy in nature at Wattle Dam.

From the drilling completed at Trapdoor, a single anomalous intercept of 4 metres at 1.55g/t Au from 40 metres, (SPRC086) was returned which is interpreted to be supergene related, located 10 metres laterally to the east from previous high grade Aircore anomalism of 1 metre at 37.2g/t Au from 40 metres, (SPAC0007). No immediate follow up drilling is planned at Trapdoor.

All single metre samples from all composite samples which returned ≥0.25g/t gold will now be submitted for analysis via 200g Cyanide Leach.

All significant (≥1.0g/t Au) results returned from the RC drilling are included as Table 1 and collar details included as Table 3. A summary of results from the drilling received is depicted in the included longitudinal projection, (Figure 5).

Table 1: Significant (≥1.0g/t Au) Intercepts – RC Drilling October 2014

Hole ID	From (m)	To (m)	Length (m)	Au (g/t)	Prospect	Zone
SPRC063	64	68	4	1.22	Redback	Western
SPRC063	104	108	4	1.24	Redback	Eastern
SPRC066	44	48	4	1.06	Redback	Western
SPRC069	56	60	4	1.63	Redback	Western
SPRC069	132	136	4	5.42	Redback	Eastern
SPRC070	152	156	4	3.52	Redback	Western
SPRC070	168	176	8	3.64	Redback	Eastern
SPRC071	8	12	4	1.13	Redback	Supergene
SPRC071	104	112	8	1.44	Redback	Western
SPRC071	132	136	4	10.7	Redback	Eastern
SPRC072	0	4	4	1.10	Redback	Lateritic
SPRC073	16	20	4	1.19	Redback	Western
SPRC074	220	228	8	1.47	Redback	Eastern
SPRC074	232	244	12	1.72	Redback	Eastern
SPRC075	88	92	4	1.23	Redback	Western
SPRC075	100	104	4	3.93	Redback	Western
SPRC075	120	132	12	4.17	Redback	Eastern
including	124	128	4	6.70	Redback	Eastern
SPRC076	84	88	4	1.00	Redback	Western
SPRC076	108	116	8	7.20	Redback	Eastern
including	108	112	4	9.84	Redback	Eastern
SPRC077	36	40	4	1.59	Redback	Western
SPRC077	44	48	4	1.86	Redback	Eastern
SPRC080	92	100	8	4.55	Redback	Eastern
including	92	96	4	7.43	Redback	Eastern
SPRC082	40	44	4	3.43	Redback	Western
SPRC082	136	148	12	2.13	Redback	Eastern

Hole ID	From (m)	To (m)	Length (m)	Au (g/t)	Prospect	Zone
SPRC083	156	160	4	2.06	Redback	Western
SPRC086	40	44	4	1.55	Trapdoor	Supergene
SPRC087	132	140	8	2.38	Redback	Western
SPRC087	160	164	4	29.1	Redback	Eastern
SPRC087	188	192	4	1.29	Redback	Eastern

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F igure 1 – Spargoville G old Projec t – Prospec t Location P lan

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Figure 2 – Spargovill e Gold Proj e ct – Redb a ck prospe c t Drilling S u mmary Pla

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Figure 3 – Spargovil l e Gold Pro j ect – Redback Prospect Section 6 527290m N

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Figure 4 – Spargoville Gold Project – Redback Prospect Section 6527270mN

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Figure 5 – Spargovill e Gold Proj e ct – Redback Prospect Longitudi n al Projecti o

RC Drilling – Further Analysis

It has been identified from the results received to date from the RC drilling at the Redback Prospect that there is a coarse gold issue due to significant variation in gold grades between gold results. Further assaying of the previous RC drilling has been undertaken to assist in quantifying the coarse gold component and to determine appropriate actions to reduce its effect on the sampling of the drilling.

A total of 13 samples were collected from the mineralised zones from the RC drilling completed in July and submitted for screen fire assays and cyanide leach analysis in order to quantify the amount of coarse gold at Redback and determine whether the current fire assay analysis on the single metres is the optimal technique.

The results from the screen fire assaying, using a 150 micron screen, highlighted a significant coarse gold fraction at Redback with an average of 35% of the total gold being contained within the coarse fraction within the Eastern Zone and an average of 10% of the total gold being contained within the coarse fraction within the Western Zone.

The results from the cyanide leach analysis also highlighted an overall increase in grade of 15% by using the technique in lieu of the 50g fire assay. The results of the cyanide leach analysis were more comparable to the total screen fire gold results supporting interpretations that the majority of the gold within the Redback mineralised system is cyanide leachable and that the larger charge (200g) used within the cyanide leach analysis is more effective at capturing the coarse gold component, opposed to the 50g charge used within previous fire assay analysis. As a result all future assaying of single metre samples from the area will be analysed using a 200g cyanide leach analysis and previous single metres analyses via fire assay will be reanalysed via the 200g cyanide leach technique.

Core Farm Paleochannel Aircore Drilling

The results from the 148 hole, 2,376 metre Aircore drilling programme, completed in September 2014, continue to highlight paleochannel gold intersections within two separate interpreted paleochannel trends, (Figure 6). The results returned from the recent drilling are not of the tenor received from previous drilling along the paleochannel trends and consequently has resulted in interpretations that the high grade components of the paleochannel trends being localised in nature, has reduced the potential for economic gold mineralisation within the area of drilling completed to date.

All significant (≥1.0g/t Au) results from the drilling are included in Table 2 and all collar details from the drilling included as Table 4.

The focus of future drilling at the Core Farm Prospect will comprise Aircore drilling in order to extend the eastern mineralised paleochannel gold trend which remains open to the southeast and RC drilling which will be orientated to test for potential bedrock sources to the interpreted high grade paleochannel mineralisation.

Table 2: Significant (≥1.0g/t Au) Intercepts – Aircore Drilling Oct 2014

Hole ID	From (m)	To (m)	Length (m)	Au (g/t)
SPAC0379	15	17	2	5.58
incl	15	16	1	8.81
SPAC0380	16	17	1	1.45
SPAC0383	16	17	1	2.19
SPAC0385	16	17	1	3.36
SPAC0386	16	17	1	2.70
SPAC0396	12	15	3	1.13
SPAC0397	15	16	1	7.28
SPAC0398	14	15	1	2.14
SPAC0399	15	16	1	4.03
SPAC0420	12	13	1	1.24
SPAC0425	11	12	1	2.25
SPAC0426	15	16	1	9.66
SPAC0427	17	18	1	2.34
SPAC0428	14	15	1	2.73
SPAC0443	14	15	1	3.09
SPAC0448	14	15	1	6.40
SPAC0449	14	15	1	5.03
SPAC0456	12	13	1	2.48
SPAC0456	15	16	1	1.22
SPAC0458	14	15	1	1.94
SPAC0458	17	18	1	1.98
SPAC0459	15	18	3	2.76
SPAC0461	14	15	1	6.42
SPAC0463	10	11	1	1.09
SPAC0463	12	13	1	1.19
SPAC0481	15	16	1	1.20

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Fig u re 6 – Cor e Farm Gol d Prospect – Drill Hole Location Pl a

For further information please contact:

Mr. Joe Houldsworth Mr. Duncan Gordon Managing Director Executive Director Tychean Resources Ltd Adelaide Equity Partners Limited M: 0487 924 326 M: 0404 006 444

Further information relating to Tychean Resources Ltd and its various exploration projects can be found at its website: www.tycheanresources.com

The information contained in this release that relates to exploration results, mineralisation and target generation is based on information compiled by Mr. Matthew Svensson, who is a Member of the Australasian Institute of Geologists (MAIG) and a full time employee of the Company. Mr. Svensson has sufficient experience which is relevant to the style of mineralisation 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. Svensson consents to the inclusion in this release of the matters based on his information in the form and context in which it appears.

This announcement contains previously announced exploration results (referred to in text and on figures) from the following previous Tychean Resources Limited ASX announcements:

28/03/2014 – High grade gold in new results from Spargoville in WA

02/05/2014 – Spargoville (WA) – Aircore Gold Resample Results

19/06/2014 – High Grade Paleochannel Gold Intersected in Aircore Drilling 22/09/2014 – High Grade Single Metre Gold Results from Spargoville WA

The Company is not aware of any new information or data that materially affects the information included in the current market announcement.

Table 3: Drill Hole Collar Details – Redback/Trapdoor RC Drilling October 2014

Hole ID	Easting (GDA)	Northing (GDA)	RL (m)	Azimuth	Dip	Total Depth (m)	Prospect
SPRC060	356590	6527290	340	90	‐60	72	Redback
SPRC061	356570	6527290	340	90	‐60	84	Redback
SPRC062	356550	6527290	340	90	‐60	90	Redback
SPRC063	356530	6527290	340	90	‐60	126	Redback
SPRC064	356580	6527310	340	90	‐60	72	Redback
SPRC065	356560	6527310	340	90	‐60	78	Redback
SPRC066	356540	6527310	340	90	‐60	108	Redback
SPRC067	356520	6527310	340	90	‐60	132	Redback
SPRC068	356700	6527270	340	270	‐60	240	Redback
SPRC069	356500	6527310	340	90	‐60	156	Redback
SPRC070	356480	6527310	340	90	‐60	210	Redback
SPRC071	356510	6527290	340	90	‐60	190	Redback
SPRC072	356590	6527270	340	90	‐60	84	Redback
SPRC073	356570	6527270	340	90	‐60	84	Redback
SPRC074	356490	6527270	340	90	‐60	268	Redback
SPRC075	356550	6527200	340	90	‐60	156	Redback
SPRC076	356560	6527170	340	90	‐60	126	Redback
SPRC077	356600	6527150	340	90	‐60	78	Redback
SPRC078	356560	6527150	340	90	‐60	170	Redback
SPRC079	356590	6527130	340	90	‐60	120	Redback
SPRC080	356530	6527330	340	90	‐60	120	Redback
SPRC081	356510	6527330	340	90	‐60	132	Redback
SPRC082	356490	6527330	340	90	‐60	156	Redback
SPRC083	356480	6527350	340	90	‐60	166	Redback
SPRC084	356570	6526900	340	90	‐60	174	Trapdoor
SPRC085	356600	6526830	340	90	‐60	138	Trapdoor
SPRC086	356710	6526870	340	270	‐60	168	Trapdoor
SPRC087	356490	6527290	340	90	‐60	263	Redback

Table 4: Drill Hole Collar Details – Core Farm Aircore Drilling September 2014

Hole ID	Easting (GDA)	Northing (GDA)	RL (m)	Dip	Total Depth (m)
SPAC0335	356500	6528200	400	‐90	18
SPAC0336	356495	6528200	400	‐90	18
SPAC0337	356490	6528200	400	‐90	18
SPAC0338	356485	6528200	400	‐90	18
SPAC0339	356480	6528200	400	‐90	18
SPAC0340	356475	6528200	400	‐90	18
SPAC0341	356480	6528230	400	‐90	18
SPAC0342	356475	6528230	400	‐90	18
SPAC0343	356470	6528230	400	‐90	18
SPAC0344	356465	6528230	400	‐90	21
SPAC0345	356460	6528230	400	‐90	21
SPAC0346	356455	6528230	400	‐90	18
SPAC0347	356450	6528230	400	‐90	21
SPAC0348	356445	6528230	400	‐90	18
SPAC0349	356440	6528230	400	‐90	21
SPAC0367	356470	6528270	400	‐90	18
SPAC0368	356465	6528270	400	‐90	18
SPAC0369	356460	6528270	400	‐90	18
SPAC0370	356455	6528270	400	‐90	21
SPAC0371	356450	6528270	400	‐90	21
SPAC0372	356445	6528270	400	‐90	21
SPAC0373	356440	6528270	400	‐90	21
SPAC0374	356435	6528270	400	‐90	21
SPAC0375	356480	6528310	400	‐90	15
SPAC0376	356475	6528310	400	‐90	15
SPAC0377	356470	6528310	400	‐90	15
SPAC0378	356465	6528310	400	‐90	15
SPAC0379	356460	6528310	400	‐90	18
SPAC0380	356455	6528310	400	‐90	18
SPAC0381	356450	6528310	400	‐90	21
SPAC0382	356445	6528310	400	‐90	21
SPAC0383	356440	6528310	400	‐90	21
SPAC0384	356435	6528310	400	‐90	21
SPAC0385	356430	6528310	400	‐90	21
SPAC0386	356425	6528310	400	‐90	18
SPAC0387	356420	6528310	400	‐90	18
SPAC0388	356415	6528310	400	‐90	18
SPAC0389	356425	6528320	400	‐90	18
SPAC0390	356420	6528320	400	‐90	18

Hole ID	Easting (GDA)	Northing (GDA)	RL (m)	Dip	Total Depth (m)
SPAC0391	356415	6528320	400	‐90	18
SPAC0392	356480	6528330	400	‐90	15
SPAC0393	356475	6528330	400	‐90	15
SPAC0394	356470	6528330	400	‐90	15
SPAC0395	356465	6528330	400	‐90	18
SPAC0396	356460	6528330	400	‐90	18
SPAC0397	356455	6528330	400	‐90	18
SPAC0398	356450	6528330	400	‐90	18
SPAC0399	356445	6528330	400	‐90	18
SPAC0400	356440	6528330	400	‐90	18
SPAC0401	356435	6528330	400	‐90	18
SPAC0402	356430	6528330	400	‐90	18
SPAC0403	356425	6528330	400	‐90	18
SPAC0404	356420	6528330	400	‐90	18
SPAC0405	356415	6528330	400	‐90	18
SPAC0406	356465	6528425	400	‐90	15
SPAC0407	356460	6528425	400	‐90	15
SPAC0408	356455	6528425	400	‐90	15
SPAC0409	356450	6528425	400	‐90	12
SPAC0410	356445	6528425	400	‐90	12
SPAC0411	356440	6528425	400	‐90	12
SPAC0412	356435	6528425	400	‐90	12
SPAC0413	356430	6528425	400	‐90	12
SPAC0414	356425	6528425	400	‐90	15
SPAC0415	356420	6528425	400	‐90	15
SPAC0416	356415	6528425	400	‐90	15
SPAC0417	356410	6528425	400	‐90	15
SPAC0418	356405	6528425	400	‐90	15
SPAC0419	356400	6528425	400	‐90	18
SPAC0420	356455	6528450	400	‐90	15
SPAC0421	356445	6528450	400	‐90	12
SPAC0422	356435	6528450	400	‐90	12
SPAC0423	356425	6528450	400	‐90	12
SPAC0424	356415	6528450	400	‐90	15
SPAC0425	356405	6528450	400	‐90	15
SPAC0426	356460	6528475	400	‐90	18
SPAC0427	356455	6528475	400	‐90	18
SPAC0428	356450	6528475	400	‐90	18
SPAC0429	356445	6528475	400	‐90	18
SPAC0430	356440	6528475	400	‐90	15

Hole ID	Easting (GDA)	Northing (GDA)	RL (m)	Dip	Total Depth (m)
SPAC0431	356435	6528475	400	‐90	12
SPAC0432	356430	6528475	400	‐90	12
SPAC0433	356425	6528475	400	‐90	12
SPAC0434	356420	6528475	400	‐90	12
SPAC0435	356415	6528475	400	‐90	12
SPAC0436	356410	6528475	400	‐90	15
SPAC0437	356405	6528475	400	‐90	15
SPAC0438	356400	6528475	400	‐90	15
SPAC0439	356395	6528475	400	‐90	15
SPAC0440	356390	6528475	400	‐90	15
SPAC0441	356385	6528475	400	‐90	18
SPAC0442	356380	6528475	400	‐90	18
SPAC0443	356375	6528475	400	‐90	18
SPAC0444	356370	6528475	400	‐90	18
SPAC0445	356365	6528475	400	‐90	18
SPAC0446	356385	6528490	400	‐90	18
SPAC0447	356380	6528490	400	‐90	18
SPAC0448	356375	6528490	400	‐90	18
SPAC0449	356370	6528490	400	‐90	18
SPAC0450	356365	6528490	400	‐90	18
SPAC0451	356365	6528510	400	‐90	18
SPAC0452	356370	6528510	400	‐90	18
SPAC0453	356375	6528510	400	‐90	18
SPAC0454	356380	6528510	400	‐90	18
SPAC0455	356385	6528510	400	‐90	18
SPAC0456	356450	6528500	400	‐90	18
SPAC0457	356445	6528500	400	‐90	18
SPAC0458	356455	6528500	400	‐90	18
SPAC0459	356460	6528500	400	‐90	18
SPAC0460	356465	6528500	400	‐90	18
SPAC0461	356470	6528500	400	‐90	18
SPAC0462	356475	6528500	400	‐90	18
SPAC0463	356480	6528500	400	‐90	18
SPAC0464	356485	6528500	400	‐90	12
SPAC0465	356490	6528500	400	‐90	9
SPAC0466	356475	6528520	400	‐90	15
SPAC0467	356480	6528520	400	‐90	15
SPAC0468	356485	6528520	400	‐90	9
SPAC0469	356490	6528520	400	‐90	6
SPAC0470	356395	6528540	400	‐90	18

Hole ID	Easting (GDA)	Northing (GDA)	RL (m)	Dip	Total Depth (m)
SPAC0471	356400	6528540	400	‐90	15
SPAC0472	356405	6528540	400	‐90	15
SPAC0473	356410	6528540	400	‐90	15
SPAC0474	356415	6528540	400	‐90	15
SPAC0475	356420	6528540	400	‐90	15
SPAC0476	356425	6528540	400	‐90	12
SPAC0477	356430	6528540	400	‐90	12
SPAC0478	356435	6528540	400	‐90	12
SPAC0479	356440	6528540	400	‐90	12
SPAC0480	356445	6528540	400	‐90	3
SPAC0481	356448	6528540	400	‐90	18
SPAC0482	356455	6528540	400	‐90	18
SPAC0483	356460	6528540	400	‐90	15
SPAC0484	356465	6528540	400	‐90	18
SPAC0485	356470	6528540	400	‐90	15
SPAC0486	356475	6528540	400	‐90	15
SPAC0487	356480	6528540	400	‐90	12
SPAC0488	356485	6528540	400	‐90	9
SPAC0489	356490	6528540	400	‐90	9
SPAC0490	356495	6528540	400	‐90	6
SPAC0491	356390	6528580	400	‐90	15
SPAC0492	356395	6528580	400	‐90	15
SPAC0493	356410	6528580	400	‐90	15
SPAC0494	356405	6528580	400	‐90	15
SPAC0495	356410	6528580	400	‐90	12
SPAC0496	356415	6528580	400	‐90	12
SPAC0497	356420	6528580	400	‐90	12
SPAC0498	356425	6528580	400	‐90	12
SPAC0499	356430	6528580	400	‐90	15

REDBACK / TRAPDOOR RC DRILLING – October 2014

JORC TABLE 1

Section 1: Sampling Techniques & Data

	Section 1: Sampling Techniques & Data
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 XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling. Composite scoop samples over 4 consecutive metres were collected from RC drill holes which were drilled to evaluate mineralised trends identified from previous drilling. The RC drilling was completed at various line spacing, (minimum 20m line spacing). A total of 28 RC drill holes for 3,961 metres were completed at the Redback and Trapdoorprospects.
	Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. A consistent scoop sampling method has been adopted for composite drill sampling. All sampling protocols remained constant throughout the program. All drill hole locations were determined by handheld GPS.
	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. RC drilling was used to obtain one metre drill samples from which approximately a 2-3 kg composite sample (scoop sampled as per above) was pulverized (>90% smaller than 75 micron) to produce a pulp sample for analysis. Analysis of the four metre composite samples comprised a 25g aqua regia digest, solvent extraction then Flame Atomic Absorption Spectrometry for Au determination to a lower detection limit of 0.01ppm Au. Composite intervals which returned gold results ≥0.5ppm gold were reanalysed via 50g Fire Assay/Mass Spectrometry for Au to a lower detection limit of 0.001ppm.
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.). All drilling was completed via RC Drilling. All holes were completed in order to intersect the interpreted mineralised horizons.
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed. No recording of recoveries was undertaken.
	Measures taken to maximise sample recovery and ensure representative nature of the samples. Drill cyclone and sample hoses are cleaned when required during each drill hole and after each hole to minimise down hole and/or cross contamination.
	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 relationship has been identified to date.
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. The use of scoop sampled RC drilling results is not appropriate for a mineral resource estimate and is considered a qualitative sampling technique.
	Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography. Logging of drill chips recorded lithology, weathering, veining, mineralisation, and other features of the drill samples. A chip sample reference of each drilled metre was collected for each hole.
	The total length and percentage of the relevant intersections logged. All drill holes were logged in full from start to end of hole.
Sub-sampli ng techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken. No core.
	If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry. The drilling comprised dry samples which were scoop sampled over 4 consecutive metres.
	For all sample types, the nature, quality and appropriateness of the sample preparation technique. The sample preparation of the chip samples follows industry best practice in sample preparation involving oven drying, crushing and pulverising of the total sample (total prep) so that a minimum of 90% of pulverized material is less than 75µm grind size.
	Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. The laboratories conducted repeat analysis on a representative amount of samples returning >0.5ppm Au and conducted random, (1 in 25 equivalent), check analysis and regular blank and mineralized standard analyses throughout.
	Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results No duplicate sampling was completed. All samples were collected to weigh less than 3kg to ensure the entire sample is

	20
Criteria	JORC Code explanation Commentary
	for field duplicate/second-half sampling. pulverized prior to subsampling for digesting.
	Whether sample sizes are appropriate to the grain size of the material being sampled. Given the qualitative nature of the composite sampling technique, the sample sizes are considered appropriate to give an indication of degree and extent of anomalism.
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. The aqua regia digest is considered a near total digest for gold and is considered appropriate considering the nature of sample collected. Fire Assay/Mass Spectrometry is a total digest for Au.
	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. None used
	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. The laboratories conducted selected repeat analysis on samples returning >0.5 ppm Au and conducted random, (1 in 25 equivalent), check analysis and regular blank and mineralized standard analyses throughout. From these results it has been determined that an acceptable level of accuracy andprecision has been achieved.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel. None undertaken.
	The use of twinned holes. None undertaken.
	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Field and laboratory data have been collected electronically. The electronic data has been validated visually and automatically using Micromine software.
	Discuss any adjustment to assay data. None undertaken.
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. The location of drill hole collars was determined by handheld GPS prior to drilling which is expected to have an accuracy of +/- 5m. All hole collars will be located with DGPS in the near future.
	Specification of thegrid system used. The coordinate system in use was GDA1994 MGA Zone 51.
	Quality and adequacy of topographic control. A nominal RL of 340m has been used for the drilling.
Data spacing and distribution	Data spacing for reporting of Exploration Results. The majority of drilling ensured drill coverage of 20m to 50m line spacing between current and/or previous drilling.
	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 estimationprocedure(s) and classifications applied. At this stage no mineral resource or reserve estimates have been undertaken which are JORC 2012 compliant. Composite results are not able to be used in resource estimations.
	Whether sample compositing has been applied. Initial four metre composites were collected from the drill samples in the field. Composite intervals which returned gold results ≥0.5ppmgold will be resampled at one metre intervals.
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,consideringthe deposit type. The completed drilling was undertaken roughly perpendicular to the strike direction of the geology and related mineralisation.
	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. No orientation based sampling bias has been identified in the data
Sample security	The measures taken to ensure sample security. All composite samples were stored securely within Kambalda after sampling and transported to Minanalytical Laboratory Services,in Perth on a weeklybasis for analysis.
Audits or reviews	The results of any audits or reviews of sampling techniques and data. No audits or reviews have been undertaken.

JORC TABLE 2

Section 2: Reporting of Exploration Results

Criteria	JORC Code explanation	Commentary	Commentary	Commentary
Mineral tenement and land tenure status	Type, reference name/number, location and ownership including agreements or material issues with third parties	The drilling was completed over 2 tenements of the Spargoville project. A summary of Tychean’s interests within the tenements is included below.

	such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.	Tenement	Gold Interest	Nickel Interest
		M15/1101	100%	80%
		M15/97	100%	0%
	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.
		There are no

Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	Previous exploration within the tenements comprises surface geochemistry, drilling, airborne and ground geophysics which was conducted by various previous explorers, including ACM Gold, Spinifex Gold, WMC, Resolute and more recently Ramelius Resources.
Geology	Deposit type, geological setting and style of mineralisation.	The geology of the tenements is dominated by Archaean mafic/ultramafic and sedimentary lithologies and minor felsic intrusives. Hydrothermal vein and shear related gold mineralisation is being targeted by exploration within the tenement.
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: easting and northing of the drill hole collar elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar dip and azimuth of the hole down hole length and interception depth hole length.	RC drill hole locations are depicted on the included Figure 2 within the body of text and a full list of hole collar details are included as Table 3.
	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.	No information has been excluded
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.	When reporting exploration results, the Au and Au1 results for each sample are averaged and all intercepts >1.0ppm Au are reported. When consecutive down hole samples returned >1.0ppm, the average gold values for each relevant interval is used to obtain an intercept average. Fire assay results were used in intercept calculations.
	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.	Where aggregate results are biased by one or more, higher grade single composite results, these composite results are detailed.
	The assumptions used for any reporting of metal equivalent values should be clearly stated.	No metal equivalents reported.
Relationship between mineralisation widths and intercept lengths	These relationships are particularly important in the reporting of Exploration Results.	From the preliminary drilling completed to date, the mineralisation is interpreted to be sub-vertical, which would result in the down hole intercept being approximately twice the true width of the mineralisation.
	If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.	Interpretations to date, have resulted in the identification of steeplydipping,south-southeast strikingmineralised zones.
	If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’).	The reported intercepts are down hole lengths only as the precise true width is not known. Further drill information is required to increase confidence in the current interpretation,

	22
Criteria	JORC Code explanation Commentary
	prior to reporting true widths.
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. See Figures 1 -4
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. Comprehensive reporting of exploration results has been undertaken.
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 other exploration data is available.
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). Planned further work is likely to comprise further RC testing the extensions of the mineralisation at Redback.
	Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive. Areas of future drilling will be within the area of returned significant results as depicted on figure 3.

PALEOCHANNE AIRCORE DRILLING – September 2014

JORC TABLE 1

Section 1: Sampling Techniques & Data

	Section 1: Sampling Techniques & Data
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 XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling. Single metre riffle split samples were collected from Aircore drill holes which were drilled to infill and extend interpreted mineralised paleochannel trends. Drilling was completed at a minimum drill spacing of 5m x 10m. A total of 149 Aircore drill holes for 2,376 metres were completed.
	Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. A consistent riffling split sampling method has been adopted for the Aircore drilling. All sampling protocols remained constant throughout the program. All drill hole locations were determined by handheld GPS.
	Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information. Aircore drilling was used to obtain one metre drill samples from which approximately a 2-3 kg riffle split sample was pulverized (>90% smaller than 75 micron) to produce a pulp sample for analysis. Analysis of the samples comprised a 200g Cyanide Leach digest and determination by ICP-MS for Au determination to a lower detection limit of 0.01ppm Au.
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.). All drilling was completed via Aircore Drilling. All holes were completed to intersect the targeted base of paleochannel for an average depth of approximately 16 metres.
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed. No recording of recoveries was undertaken.
	Measures taken to maximise sample recovery and ensure representative nature of the samples. Drill cyclone and sample buckets are cleaned when required during each drill hole and after each hole to minimise down hole and/or cross contamination.
	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 relationship has been identified to date.
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. The chip samples have been geologically logged to a level of detail to support an appropriate mineral resource estimation.
	Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography. Logging of Aircore drill chips recorded lithology, weathering, veining, mineralisation, and other features of the drill samples. An EOH chip sample reference was collected for each hole.
	The total length and percentage of the relevant intersections logged. All drill holes were logged in full from start to end of hole.
Sub-sampli ng techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken. No core.
	If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry. The drilling comprised dry samples which were riffle split sampled every metre. Each hole was selectively sampled from 4-6 metres above the base of paleochannel to the end of hole.
	For all sample types, the nature, quality and appropriateness of the sample preparation technique. The sample preparation of the Aircore chip samples follows industry best practice in sample preparation involving oven drying, crushing and pulverising of the total sample (total prep) so that a minimum of 90% of pulverized material is less than 75µm grind size.
	Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. The laboratory conducted routine 1 in 20 check analysis and regular blank and mineralized standard analyses throughout.
	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. No duplicate sampling was completed. All samples were collected to weigh less than 3kg to ensure the entire sample is pulverized prior to subsampling for digesting. Duplicate sampling will be completed in the coming weeks.

	24
Criteria	JORC Code explanation Commentary
	Whether sample sizes are appropriate to the grain size of the material being sampled. The collected sample sizes are considered appropriate to give an indication of degree and extent of anomalism.
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. The cyanide leach digest is considered a partial gold digest and is considered appropriate considering the nature of sample collected.
	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. None used
	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. The laboratory conducted routine 1 in 20 check analysis and regular blank and mineralized standard analyses throughout. From these results it has been determined that an acceptable level of accuracyandprecision has been achieved.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel. None undertaken.
	The use of twinned holes. None undertaken.
	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Field and laboratory data have been collected electronically. The electronic data has been validated visually and automatically using Micromine software.
	Discuss any adjustment to assay data. None undertaken.
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. The location of drill hole collars was determined by handheld GPS prior to drilling which is expected to have an accuracy of +/- 5m. Prior to use in any mineral resources estimate or mining studies, all collars will be located using a DGPS with an expected accuracy of+/-0.2m.
	Specification of thegrid system used. The coordinate system in use was GDA1994 MGA Zone 51.
	Quality and adequacy of topographic control. A nominal RL of 340m has been used for the drilling.
Data spacing and distribution	Data spacing for reporting of Exploration Results. The drillingcoverage ranged from 5m x 10m to 10m x 50m.
	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. At this stage no mineral resource or reserve estimates have been undertaken. However the data spacing and distribution is sufficient to establish geological and grade continuity appropriate for the estimation of a combined inferred and indicated mineral resource.
	Whether sample compositing has been applied. No samplingcompositingwas undertaken.
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,consideringthe deposit type. The completed drilling was undertaken perpendicular to the base of the interpreted paleochannel, therefore is thought to achieve unbiased sampling.
	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. No orientation based sampling bias has been identified in the data
Sample security	The measures taken to ensure sample security. All samples were stored securely onsite after sampling and collected by Genalysis Laboratories in Kalgoorlie periodically and transported to Kalgoorlie for sample preparation. After sample preparation a representative pulp sample was sent to the Perth laboratoryfor analysis.
Audits or reviews	The results of any audits or reviews of sampling techniques and data. No audits or reviews have been undertaken.

JORC TABLE 2

Section 2: Reporting of Exploration Results

	Section 2: Reporting of Exploration Results
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 completed drilling is located within tenement M15/1101 of the Spargoville project. M15/1101 is held 100% by Tychean with 100% gold rights and 80% nickel rights. There are no existing impediments to the tenement.
	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. There are no existing impediments to the tenement.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties. Previous exploration within the area comprises surface geochemistry, drilling, airborne and ground geophysics which was conducted by ACM Gold, Spinifex Gold, and more recent Ramelius Resources. Ramelius completed the majority of previous work.
Geology	Deposit type, geological setting and style of mineralisation. The geology of the Core Farm prospect is dominated by an interpreted Archaean felsic intrusive which is in contact with mafic/ultramafic lithologies to the east and west. Hydrothermal vein and shear related gold mineralisation is being targeted by exploration within the tenement.
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: easting and northing of the drill hole collar elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar dip and azimuth of the hole down hole length and interception depth hole length. Aircore drill hole locations are depicted on the included Figure 5 within the body of text and a full list of hole collar details are included as Table 4.
	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. No information has been excluded
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. When reporting exploration results, all intercepts >1.0ppm Au are reported. When consecutive down hole samples returned >1.0ppm, the average gold values for each relevant interval is used to obtain an intercept average. A maximum number of 2m of internal dilution (<1.0g/t Au) could be used, providing the aggregate result is>1.0g/t Au.
	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. Where aggregate results are biased by one or more higher grade single composite results, these composite results are detailed.
	The assumptions used for any reporting of metal equivalent values should be clearly stated. No metal equivalents reported.
Relationship between mineralisation widths and intercept lengths	These relationships are particularly important in the reporting of Exploration Results. The mineralisation targeted at Core Farm is Paleochannel related. Paleochannel gold mineralisation is characterised by being nuggetty, flat lying and restricted to thin mineralised intervals.
	If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. The orientation of the mineralisation is flat lying/horizontal. Drilling was completed so that it would intersect the mineralisation perpendicularly.
	If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’). The reported intercepts are down hole lengths which can also be treated as the mineralisation true width.
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. See Figures 1 and 2

	26
Criteria	JORC Code explanation Commentary
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. Comprehensive reporting of exploration results has been undertaken.
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 other exploration data is available.
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). Follow-up Air Core drilling is planned to further infill and extend the paleochannel gold mineralised trends.
	Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive. Target areas for future RC drilling are highlighted on Figure 2

AI assistant

DREADNOUGHT RESOURCES LTD Capital/Financing Update 2014

64785_rns_2014-11-12_d2a4df45-55fc-45ab-a7ea-88c9c72b4c62.pdf

Australian Securities Exchange Announcement

High Grade Gold Results – Redback Prospect, Spargoville WA

 High Grade Gold Results from Redback RC Drilling

Redback and Trapdoor RC Drilling

RC Drilling – Further Analysis

Core Farm Paleochannel Aircore Drilling

REDBACK / TRAPDOOR RC DRILLING – October 2014

JORC TABLE 1

Section 1: Sampling Techniques & Data

JORC TABLE 2

Section 2: Reporting of Exploration Results

PALEOCHANNE AIRCORE DRILLING – September 2014

JORC TABLE 1

Section 1: Sampling Techniques & Data

JORC TABLE 2

Section 2: Reporting of Exploration Results

AI assistant

DREADNOUGHT RESOURCES LTD — Capital/Financing Update 2014

64785_rns_2014-11-12_d2a4df45-55fc-45ab-a7ea-88c9c72b4c62.pdf

Australian Securities Exchange Announcement

High Grade Gold Results – Redback Prospect, Spargoville WA

 High Grade Gold Results from Redback RC Drilling

Redback and Trapdoor RC Drilling

RC Drilling – Further Analysis

Core Farm Paleochannel Aircore Drilling

REDBACK / TRAPDOOR RC DRILLING – October 2014

JORC TABLE 1

Section 1: Sampling Techniques & Data

JORC TABLE 2

Section 2: Reporting of Exploration Results

PALEOCHANNE AIRCORE DRILLING – September 2014

JORC TABLE 1

Section 1: Sampling Techniques & Data

JORC TABLE 2

Section 2: Reporting of Exploration Results

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