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FireFly Metals Ltd. Capital/Financing Update 2021

Jun 15, 2021

48548_rns_2021-06-15_7b42ac95-0800-4809-9d24-91eaeea4e185.pdf

Capital/Financing Update

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ASX: AUT 16 June 2021

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ASX ANNOUNCEMENT

Pickle Crow Gold Project, Canada

Shallow high-grade gold at Carey discovery highlights potential for open pit Resource

Plus, strong underground results to help underpin imminent Resource update

Key Points

  • Auteco has made a significant discovery at Pickle Crow, called Carey, with shallow high-grade intersections

  • The shallow broad zones of mineralisation highlight the potential for open pit mining

  • The Carey intersections include:

    • 20.4m @ 5.3 g/t gold from 102.7m in AUDD0158 (New Structural Zone)

      • Including 2.2m @ 39.3g/t

    • 13.8m @ 2.0 g/t gold from 29.8m in AUDD0137 (New Structure)

    • 16.5m @ 2.2 g/t gold from 160.6m in AUDD0141 (New Structure)

    • 6.5m @ 4.6g/t gold from 86.5m in AUDD0138 (New Structure)

    • 4.5m @ 3.5 g/t gold from 54.3m in AUDD0134 (New Structure)

  • In addition to the Carey discovery, drilling has extended the known high-grade gold mineralisation in the Shaft 3 and Shaft 1 areas. These results include:

  • 4.9m @ 7.5g/t gold from 483.2m in hole AUDD0152 (New Structure)

  • 3.3m @ 8.0g/t gold from 836.4m in hole AUDD0166 (80m Extension of Structure)

  • 4.6m @ 7.5g/t gold from 183.5m in hole AUDD0064 (80m Extension of Structure)

  • 1.3m @ 21.4g/t gold from 82.1m in hole AUDD0128 (80m Extension of structure)

  • 0.6m @ 42.9g/t gold from 320m in hole AUDD0128 (80m Extension of structure)

  • The latest underground Shaft 3 drilling results will be included in next month’s update to the existing Pickle Crow Inferred Resource of 1Moz at 11.3g/t[1] gold

  • Regional mapping and reconnaissance sampling has yielded significant results, with outcropping veins at the Springer target, south of Pickle Crow, returning rock chip results including:

    • 145.7g/t gold, 6.2g/t gold, 5.7g/t gold and 4.3g/t gold

  • The 45,000m drill program has now been completed. An additional 50,000m drill campaign has been approved by the Auteco Board and will start immediately

  • Auteco is fully funded for its growth strategy, with $26.8M cash on hand at March 31 2021

1 Please refer to ASX Release dated 1 September 2020 for details of the Inferred Mineral Resource for Pickle Crow. All future references in this release to the 1Moz Resource at a grade of 11.3g/t refer the announcement dated 1 September 2020.

ASX: AUT ACN: 110 336 733 Principal and Registered Office: T: +61 8 9220 9030 Ground Floor E: [email protected] 24 Outram Street W: www.autecominerals.com.au West Perth WA 6005

Ray Shorrocks - Executive Chairman Michael Naylor - Non-Executive Director Stephen Parsons - Non-Executive Director Nicholas Katris - Company Secretary

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Auteco Minerals Ltd (ASX: AUT) is pleased to announce that it has made a shallow high-grade gold discovery at its Pickle Crow gold project in Canada.

The Carey discovery, which was the first in a series of shallow exploration targets which will be tested by Auteco, is particularly notable because it highlights the potential for open pit mining in addition to what was historically a narrow-vein underground operation at Pickle Crow.

Further drilling will be conducted to determine the continuity of mineralisation between historic drillholes to the north and south of the initial intersections.

In addition to the Carey discovery, Auteco is also pleased to announce that it has extended the known highgrade underground mineralisation in the Shaft 3 area. The latest Shaft 3 drilling results will help underpin the Resource update set to be completed next month. The existing Pickle Crow Inferred Resource stands at 1Moz grading 11.3g/t gold.

Mapping, outcrop sampling and the acquisition of detail ground magnetics is in progress on the regional tenure outside of the current Resource. Assay results returned from rock chip samples of outcropping veins at the Springer prospect returned results up to 145.7g/t gold.

The 45,000m Resource definition and exploration program that commenced in September 2020 has now been successfully completed.

In anticipation of continued success, Auteco has engaged leading environmental consulting firm Wood PLC to coordinate and conduct activities relating to Advanced Exploration permitting with the Ontario Ministry of Energy, Northern Development and Mines. Additionally, Auteco has commenced preliminary discussions with a number of engineering firms to conduct assessments of processing and mining infrastructure inherited with the Pickle Crow project.

In light of these strong results, the Auteco Board has given approval for the commencement of an additional 50,000m of drilling. The dual strategy of driving near-mine Resource growth combined with early-stage exploration targeting will continue to be the focus of the drilling program.

Auteco Executive Chairman Ray Shorrocks said: “The latest drilling program has been a huge success and we will further capitalise on this success with additional drilling.

“The high grades and the substantial widths of the new mineralisation highlight the potential for highly beneficial bulk mining methods to be used, either as wider stopes in an underground setting or as an open pit.

“We will now complete the Resource update in parallel with starting the new drilling program, ensuring we maximise the opportunity to generate newsflow and create value for shareholders.”

ABOUT THE GROWTH AND EXPLORATION PROGRAM

The current strategic work program detailed in previous ASX[2] releases (Figure 1) is nearing its conclusion after successful delivery of the key objectives to date. The drilling phases of the work program have been completed, with a total of 166 diamond holes drilled for 45,522m. Results are yet to be returned for 28 holes.

2 Please refer to AuTECO ASX releases dated 7 April 2021 & 29 April 2021 for details

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Figure 1: AuTECO strategic work plan, key work phases and progress to date (this forward work plan is indicative).

The company is currently utilising the acquired drill data to produce an updated Resource estimate (as at 30 June 2021) that is planned for completion and reporting in July 2021.

Growth & Exploration Program – Highlights to Date

The growth and exploration work completed between September 2020 and June 2021 has delivered significant results (Figure 2) that demonstrate the organic growth potential of Pickle Crow.

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Figure 2: Highlights delivered to date from the Auteco strategic work program (Sep 2020 to July 2021)[3] .

3 For detail on the Resource and drill results referred to in Figure 2, please refer to ASX releases dated 1 Sep 2020, 11 Nov 2020, 19 Jan 2021 and 7 Apr 2021 in addition to results announced in this release.

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Key highlights, as summarised in Figure 2, include:

  • Successful upgrade of the Resource to 1Moz at 11.3g/t gold in September 2020

  • Discovery of multiple previously unknown mineralised structures proximal to the Resource

  • Step-out extensions of known mineralised structures that form the current Mineral Resource

  • Commencement of concept-stage exploration target testing, which has yielded immediate results with the Carey discovery that returned a intersection of 20.4m @ 5.3g/t gold

It is important to note that all drilling completed between September 2020 and June 2021 has been conducted outside of the Inferred 1Moz Resource at 11.3g/t gold.

EXPLORATION AND GEOLOGICAL DETAIL

The Pickle Crow deposit is a typical Mesothermal narrow-vein high grade Archean orogenic gold deposit, with mineralised veins present within local structures formed within a broader Riedel shear zone. Historically between 1935 and 1966, 1.5Moz of gold at a grade of 16.1g/t was mined from more than 10 individual quartz reefs. To date >30 individual veins have been identified proximal to underground shaft infrastructure (Shaft 1, Shaft 3, and Albany Shaft). Exploration results have been grouped based on proximity to the three main shafts.

Carey Discovery

The Carey prospect was a conceptual target zone focused on an area of structural disruption adjacent to the contacts between multi-generational porphyritic intrusions and the host rock, which includes mafic volcanics and banded iron formation (BIF).

Drilling completed since April 2021 has confirmed several bulk tonnage targets centred around high grade gold veins proximal to the Albany Porphyry and later stage quartz-feldspar porphyries (Figure 3). Intersections returned from first pass target testing include:

  • 20.4m @ 5.3g/t gold from 102.65m in hole AUDD0158 (New Structure)

  • 13.8m @ 2.0g/t gold from 29.8m in hole AUDD0137 (New Structure)

  • 16.5m @ 2.2g/t gold from 160.55m in hole AUDD0141 (New Structure)

  • 4.5m @ 3.5g/t gold from 54.3m in AUDD0134 (New Structure)

Please refer to Appendix A – Table 1 for details of all new holes drilled in this area.

Mineralisation is observed within Quartz-Ankerite-Pyrite veins and disseminated sulphides in shearing developed both to the contacts of the Albany Porphyry and Riedel shears developed within the intrusion. The intrusion has been crosscut by intermediate porphyry dykes which, due to rheological contrast, preferentially undergo brittle-ductile deformation. The dykes are intensely sericite-ankerite-pyrite altered, and locally contain discrete Quartz-Ankerite-Pyrite veins. High grade gold zones are associated with the sulphides.

The mineralisation encountered in hole AUDD0158 (20.4m @ 5.3g/t) is shown in Figure 4. Mineralisation remains open in all directions on targeted structures, and work will now focus on defining continuity within the mineralised envelopes.

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Figure 3: Map of the greater Carey-Albany area, showing the location of the Carey prospect proximal to the Albany Porphyry (refer to Appendix 1 - Tables 1 and 2 for details of drill hole results).

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Figure 4: AUDD0158: New Discovery. 102.65m to 123m. Sericite-ankerite-pyrite altered intermediate dyke within sericite-ankeritepyrite altered Quartz-Feldspar-Porphyry. Alteration to the selvedge of and is related to multiple sheared Quartz-Ankerite-Pyrite veins. Interval is 20.4m @ 5.3g/t Gold including 2.2m @ 39.3g/t Gold from 116m (refer to Appendix 1 – Table 1).

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Greater Carey-Albany Area

Review of historic drilling in the greater Carey-Albany area demonstrates broad shallow mineralisation has been previously encountered, with intersections including:

  • 11.6m @ 2.7 g/t gold from 38.7m in hole HC86-71

  • 18.3m @ 1.9 g/t gold from 42.7m in hole HC86-72

  • 11.7m @ 2.0 g/t gold from 46.8m in hole HC88-251

  • 14m @ 3.9g/t gold from 86.8m in PC-08-020

  • 10.5m @ 2.4 g/t gold from 85.3m in PC-08-021

  • 18.4m @ 1.5g/t gold from 36.7m in PC-09-049

Please refer to Appendix A – Table 2 for details of historic drill holes drilled in this area.

Exploration drilling is planned to confirm historic results and test the open pit potential of the Carey-Albany area.

Near Mine Extension and Exploration Drilling (Shaft 3, Shaft 1)

Drilling has continued to focus on the Shaft 3 area, with results returned for both extension and exploration drilling. The location of new drilling is shown in Figure 5.

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Figure 5: Plan location map of recent drilling in the Shaft 3 and Shaft 1 areas of the Pickle Crow deposit (refer to Appendix 1 – Table 1).

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Shaft 3

Exploration drilling in the Shaft 3 area has intersected a previously undiscovered shear vein in hole AUDD0152 within the Pickle Crow assemblage. This intersection includes multiple occurrences of visible gold and is located ~250m north-west of the nearest drillhole (Figure 5). The assayed intersection for this hole was:

  • 4.9m @ 7.5 g/t gold from 483.2m in hole AUDD0152

The mineralised intersection from hole AUDD0152 is shown in Figure 6. This new structure remains open in all directions and will be the focus of ongoing exploration drilling in the shaft 3 area.

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Figure 6: AUDD0152: New discovery. 483.2m to 488.1m. Laminated quartz-tourmaline-scheelite-gold vein within sericite-carbonate altered sandstone unit. Veining around sericite-ankerite-pyrite altered porphyry dyke. Interval 4.9m @ 7.5 g/t Gold, including 1.5m @ 17.0g/t Gold from 483.5m (Refer to Appendix 1 – Table 1).

Step-out drilling in the Shaft 3 area has also returned intersections that demonstrate the continuation of known veins beyond the current known extents. Significant results returned include:

  • 3.3m @ 8.0 g/t gold from 836.4m in hole AUDD0166 (80m Extension of Structure)

  • 1.3m @ 21.4g/t gold from 82.1m in hole AUDD0128 (80m Extension of Structure)

  • 0.6m @ 42.9g/t gold from 320m in hole AUDD128 (80m Extension of Structure)

Shaft 1

A drillhole from the Shaft 1 area previously reported as a partial assay (AUDD0064) has also been returned:

  • 4.6m @ 7.5 g/t gold from 183.5m in hole AUDD0064 (80m Extension of Structure)

Regional Exploration

Regional field reconnaissance and mapping in areas outside of the current Resource is in progress, supported by ongoing ground magnetic surveys that have been successfully utilized to identify geophysical signatures associated with high grade, Quartz-Scheelite-Tourmaline-Gold bearing structures in the Pickle Crow area.

The magnetic survey highlights displacement and demagnetisation of the magnetic Banded Iron Formation coincident with mineralised cross structures (Figure 7). Analogous geophysical target signatures have now been identified both to the south-west of Vein 5, the Crowshore area and at the Springer Shaft.

At the Springer Shaft displacements in the Banded Iron Formation (BIF) observed in the Ground Magnetics are coincident with high grade historical drill intercepts including:

  • 1.7m @ 36.6 g/t gold from 175.9m in hole CPSH-88-01

  • 4.6m @ 9.3g/t gold from 121m in hole CP-88-092

  • 0.8m @ 69.4 g/t gold from 42.4m in CPSH-88-03

  • 0.8m @ 41.4 g/t gold from 35.7m in CPSH-88-02

  • 4.6m @ 9.3 g/t gold from 121m in CP-88-092

Please refer to Appendix A – Table 2 for details of historic drill holes drilled in this area.

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Figure 7: High quality ground magnetic survey data completed by Auteco in the Shaft 1 (top left) and Springer (right) areas. Structural displacement of the BIF units is observed, in addition to demagnetisation at structural intersections. White labels represent historical drill intervals subject to this release, results <10g*m not represented by labels (refer to ASX Release 26 March 2020 and Appendix A).

These results are supported by recent mapping which has identified three mineralised shear veins in the proximity of the Springer Shaft (Figure 7) with rock chip results including:

  • 145.7g/t gold (rock chip sample of outcropping surface vein)

  • 6.2g/t gold (rock chip sample of outcropping surface vein)

  • 5.7g/t gold (rock chip sample of outcropping surface vein)

  • 4.3g/t gold (rock chip sample of outcropping surface vein)

  • Please refer to Appendix A – Table 3 for full detail of rock chip sampling completed by Auteco in this area.

The newly identified target zones represent compelling targets that will undergo preliminary drill testing by Auteco in coming months.

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FORWARD WORK PROGRAM

Resource Update

Data from the drilling acquired between September 2020 and June 2021 has been compiled and validated. Geological interpretation, domaining and wireframing of the mineralised zones is in progress.

Reputable independent consultants Cube Consulting Pty Ltd have been engaged to complete the Mineral Resource estimate with strong oversight from Auteco personnel. The estimate will be prepared in accordance with the JORC Code (2012 Edition).

The updated estimate is scheduled for completion in early to mid-July 2021 with results released immediately thereafter.

Growth and Exploration Program

Auteco has a compelling pipeline of exploration and growth drill targets, ranging from early-stage concepts through to advanced prospects with potential to generate additional Resources. Due to the strong success of the recent drill campaigns, the Auteco Board has given approval for the immediate commencement of an additional 50,000m of drilling.

The dual strategy of driving near-mine Resource growth combined with early-stage exploration targeting will continue to be the focus of the program.

Pathway to Development

In anticipation of continued success, Auteco has engaged leading environmental consulting firm Wood PLC to coordinate and conduct activities relating to Advanced Exploration permitting with the Ontario Ministry of Energy, Northern Development and Mines.

Additionally, Auteco has commenced preliminary discussions with a number of engineering firms to conduct assessments of processing and mining infrastructure inherited with the Pickle Crow project.

This announcement has been authorised for release by the Auteco Board.

For further information, please contact:

Mr Ray Shorrocks Paul Armstrong Executive Chairman Media enquiries Auteco Minerals Ltd Read Corporate +61 8 9220 9030 +61 8 9388 1474

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ABOUT AUTECO MINERALS

Auteco Minerals Ltd (ASX: AUT) is an emerging mineral exploration company focused on advancing high-grade gold resources at the Pickle Crow Gold Project in the world-class Uchi sub-province of Ontario, Canada.

The Pickle Crow Gold Project currently hosts a JORC 2012 Mineral Resource of 1 Moz at 11.3 g/t gold, with a 45,000m drilling program underway to expedite Resource growth.

Pickle Crow is one of Canada’s highest-grade gold mines – historically, producing 1.5 Moz at 16 g/t gold.

For further information regarding Auteco Minerals Ltd please visit the ASX platform (ASX: AUT) or the Company’s website https://www.autecominerals.com.au

COMPETENT PERSON STATEMENT

Certain Exploration Results referred to in this announcement were first reported in accordance with ASX Listing Rule 5.7 in the Company's announcements of 28/01/2020, 26/03/2020, 01/09/2020 and 11/11/2020, 19/1/2021 and 7/4/2021. Auteco confirms that it is not aware of any new information or data that materially affects the information included in the original announcements. The Company confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the original market announcements.

Auteco's Inferred Mineral Resource was most recently updated in an ASX Release dated 1 September 2020. Auteco confirms that it is not aware of any new information or data that materially affects the information included in the original announcement and that the material assumptions and technical parameters underpinning the resource continue to apply.

Any information in this announcement that relates to new Exploration Results is based on and fairly represents information and supporting information compiled by Mr Marcus Harden, who is a Member of the Australasian Institute of Geoscientists. Mr Harden is an employee of the Company and has sufficient experience in the style of mineralisation and type of deposit under consideration and qualifies 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 Harden holds securities in Auteco Minerals Limited and consents to the inclusion of all technical statements based on his information in the form and context in which it appears.

DISCLAIMER

References to previous ASX announcements should be read in conjunction with this release.

FORWARD LOOKING INFORMATION

Various statements in this announcement constitute statements relating to intentions, future acts, and events. Such statements are generally classified as “forward looking statements” and involve known and unknown risks, uncertainties and other important factors that could cause those future acts, events, and circumstances to differ materially from what is presented or implicitly portrayed herein. The Company gives no assurances that the anticipated results, performance, or achievements expressed or implied in these forward-looking statements will be achieved.

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APPENDIX A: DRILLING AND ROCK CHIP SAMPLING RESULTS

TABLE 1: Significant Intercept Table – Auteco Drilling: Recent Drilling

Cut-off grade of 1 g/t Gold allowing for 1m internal dilution (NSI – No significant Intercept). All cords in UTM NAD 83 z15.

Hole No. Easting Northing Elevation Azimuth Dip Drilled
Length		 From To Width Assay Comment
(m) (m) (m) (m) g/t Au
AUDD0064 703789 5709411 346 150.0 55.0 309 183.5 188.1 4.6 7.54
AUDD0097 704864 5710718 340 129 55 160 NSI
AUDD0101 705093 5711185 339 152.5 55 180 72 72.3 0.3 1.87
74.6 75 0.4 2.56
86.25 86.55 0.3 14
129.75 130.25 0.5 1.59
AUDD0104 704962 5711060 340 519 60 180 122 123 1 1.29
191.2 192.2 1 34.9
426.5 463.5 1 4.34
AUDD0105 704906 5710907 339 412 60 160 95.95 96.25 0.3 1.9
339 340.5 1.5 1.59
343 344.5 1.5 3.29
AUDD0107 704781 5710921 339 160 60 390 342.5 345.7 3.2 1.96
347.5 348 0.5 1.18
369.05 370.5 1.45 3.28
395.05 395.4 0.35 5.71
399.15 399.5 0.35 1.34
375.25 375.75 0.5 4.26
401.6 403 1.4 1.78
422.5 423.8 1.3 14.4
432 436 4 3.55
AUDD0108 705184 5711235 339 180 60 402.1 57 58 1 1.43
AUDD0108W 279.1 280.1 1 3.84
AUDD0110 706911 5712209 338 110 45 206 NSI
AUDD0111 705260 5711233 339 180 55 369 82.7 83 0.3 4.19
215 215.5 0.5 1.8
276.2 276.6 0.4 2.76
AUDD0112 704843 5711292 338 160 60 537 206.2 206.95 0.75 7.08
244.95 245.25 0.3 3.11
252.15 252.75 0.6 2.83
273.8 276.1 2.3 2.77
301.45 301.75 0.3 1.29
302.6 303 0.4 1.89
382.1 383.3 1.2 11.9
502.8 503.4 0.6 5.3
269.75 270.05 0.3 1.4
AUDD0113 704719 5710869 340 160 60 471 286.7 287.15 0.45 2.72

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Hole No. Easting Northing Elevation Azimuth Dip Drilled
Length		 From To Width Assay Comment
(m) (m) (m) (m) g/t Au
326 326.3 0.3 2.39
375.1 376 0.9 1.04
439.25 439.55 0.3 2.57
AUDD0114 704755 5710787 340 160 55 249 213.7 214 0.3 4.35
232.2 233.3 1.1 1.4
AUDD0115 704665 5710646 341 160 55 198 34.5 36 1.5 1.96
148.5 149.8 1.3 1.67
AUDD0116 705365 5711346 338 180 60 288 166 166.3 0.3 1.54 Partial Assay
AUDD0117 704579 5710741 341 160 55 402 NSI
AUDD0118 704600 5710562 343 160 55 201 NSI
AUDD0119 705029 5711316 337 180 60 68.4 39 0.6 4.88
177.5 178.8 1.3 1.03
393 338.8 339.4 0.6 313
inc: 338.8 339.1 0.3 613.5
369 369.5 0.5 4.02
AUDD0120 704853 5711166 338 180 55 501 302.2 302.65 0.45 33.7
323.6 323.9 0.3 23.4
365.45 366 0.55 1.14
402.2 402.8 0.6 2.35
471.8 472.3 0.5 1.58
AUDD0121 705309 5711301 338 180 60 296 148.45 148.75 0.3 1.73 Partial Assay
AUDD0122 705095 5711315 337 180 62 447 341.9 343 1.1 11.3 Partial Assay
AUDD0123 704921 5710791 340 140 65 204 Awaiting Assay
AUDD0124 705025 5711114 340 180 55 255 196.8 197.1 0.3 12.9
AUDD0125 705090 5711050 340 180 55 260 Awaiting Assay
AUDD0126 705261 5711307 338 180 62 444 Awaiting Assay
AUDD0127 705026 5711377 337 180 60 510 Awaiting Assay
AUDD0128 704919 5711220 337 175 60 399 82.05 83.35 1.3 21.43 Partial Assay
319.95 320.55 0.6 42.9
AUDD0129 705445 5711288 342 310 55 168 Awaiting Assay
AUDD0130 704959 5711109 339 180 55 303 Awaiting Assay
AUDD0131 705190 5711302 338 180 60 339 Awaiting Assay
AUDD0132 704930 5711362 337 160 60 519 Awaiting Assay
AUDD0133 705210 5711475 337 180 60 519 Awaiting Assay
AUDD0134 705635 5711299 358 200 60 345 10.4 11.05 0.65 6.83 Partial Assay
54.3 58.8 4.5 3.5
AUDD0135 705520 5711140 356 180 55 128 Awaiting Assay
AUDD0136 705560 5710945 347 210 55 102 Awaiting Assay
AUDD0137 705617 5711186 355 180 55 345 29.8 43.6 13.8 2.0 Partial Assay
AUDD0138 705837 5711257 350 210 55 258 86.5 93 6.5 4.6 Partial Assay
AUDD0139 705058 5711454 338 185 75 636 508.35 508.9 0.55 11.9 Partial Assay

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Hole No. Easting Northing Elevation Azimuth Dip Drilled
Length		 From To Width Assay Comment
(m) (m) (m) (m) g/t Au
AUDD0139 705058 5711454 338 185 75 636 520.25 520.55 0.3 3.13
524.5 524.8 0.3 3.78
AUDD0140 705210 5711475 337 195 75 587 544 544.95 0.95 1.2 Partial Assay
547.5 547.8 0.3 7.01
AUDD0141 706024 5711437 354 210 60 189 160.55 177 16.45 2.2 Partial Assay
AUDD0142 705802 5711140 347 180 55 133 Awaiting Assay
AUDD0143 705934 5711370 353 210 55 219 43.5 44.4 0.9 1.66 Partial Assay
52.9 59.5 0.3 1.35
68.95 69.3 0.35 2.5
AUDD0144 705954 5711484 360 330 60 141 Awaiting Assay
AUDD0145 705820 5711430 361 210 55 221 Awaiting Assay
AUDD0146 705802 5711140 348 250 55 210 Awaiting Assay
AUDD0147 705897 5711466 361 330 55 105 Awaiting Assay
AUDD0148 705210 5711475 337 180 73 582 544.75 545.4 0.65 1.04 Partial Assay
AUDD0149 706177 5711593 350 180 55 138 40.85 43.35 2.5 4.5 Partial Assay
AUDD0150 705964 5711328 350 200 50 252 83.75 84.75 1 1.28 Partial Assay
AUDD0151 706257 5711557 345 145 55 168 Awaiting Assay
AUDD0152 704504 5711072 338 160 63 765
inc:		 466.05 467 0.95 1.89 Partial Assay
483.2 488.1 4.9 7.5
483.5 485 1.5 17
AUDD0153 706312 5711610 346 145 55 129 Awaiting Assay
AUDD0154 706361 5711673 348 145 55 135 Awaiting Assay
AUDD0155 705710 5711350 358 200 55 249 Awaiting Assay
AUDD0156 705965 5711328 350 145 50 225 36.8 37.5 0.7 1.69 Partial Assay
AUDD0157 704999 5711407 337 180 76 672 Awaiting Assay
AUDD0158 705868 5711368 356 210 55 348
inc:		 54.7 59.25 4.55 2.44 Partial Assay
68.25 68.55 0.3 1.23
87 87.5 0.5 1.09
102.65 123 20.35 5.3
116 118.15 2.15 39.34
122.65 123 0.35 3.12
128.6 130 1.4 1.19
152.75 153 0.25 3.02
AUDD0159 705690 5711298 358 200 55 291 Awaiting Assay
AUDD0160 705602 5711341 356 200 55 274 Awaiting Assay
AUDD0161 704776 5710431 342 175 55 257 Awaiting Assay
AUDD0162 704694 5710407 342 175 55 222 Awaiting Assay
AUDD0163 705559 5711210 358 180 55 301 Awaiting Assay
AUDD0164 704485 5710851 340 160 57 585 Awaiting Assay
AUDD0165 704504 5711072 338 165 72 108 Awaiting Assay
AUDD0166 704489 5711151 338 160 72 850 836.4 839.7 3.3 8.0 Partial Assay

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TABLE 2: Significant Intercept Table – Historical Drilling

Cut-off grade of 1 g/t Gold allowing for 1m internal dilution (NSI – No significant Intercept). All cords in UTM NAD 83 z15.

Hole No. Easting Northing Elevation Azimuth Dip Drilled
Length		 From To Width Assay
(m) (m) (m) (m) g/t Au
2070-5 705509 5711605 340 136 50 232 188.19 188.26 0.07 1.37
GA81-24 706229 5711412 343 140 50 124 NSI
GA81-28 705727 5711140 349 140 50 124 56.30 57.19 0.89 2.74
GA81-6 706184 5711370 343 140 50 124 68.44 70.33 1.89 4.78
HC86-71 705780 5711221 351 140 50 181 20.28 34.16 13.88 1.08
38.74 50.33 11.59 2.72
73.96 75.49 1.53 0.51
102.02 103.24 1.22 7.33
107.48 109.01 1.53 2.88
HC86-72 705791 5711233 351 140 50 118 42.70 61.00 18.30 1.93
64.97 68.02 3.05 1.49
103.09 106.14 3.05 10.60
HC86-73 705690 5711141 351 140 50 139 28.98 32.03 3.05 1.37
HC86-74 705645 5711101 351 140 50 149 3.97 5.49 1.52 1.61
14.06 15.59 1.53 1.09
HC86-79 705719 5711194 352 140 50 144 110.41 111.94 1.53 0.78
118.04 119.56 1.52 0.96
HC86-80 705801 5711240 351 140 50 185 29.89 30.81 0.92 2.84
70.24 72.07 1.83 1.68
77.01 78.54 1.53 0.85
101.99 105.04 3.05 3.40
HC87-108 705802 5711288 354 140 60 194 8.94 9.27 0.33 0.72
11.56 12.69 1.13 1.11
33.58 34.28 0.70 0.81
42.88 44.41 1.53 0.57
47.46 48.56 1.10 0.78
87.44 88.97 1.53 0.73
107.36 108.58 1.22 0.65
123.49 126.03 2.54 1.28
134.08 138.01 3.93 1.30
149.94 150.79 0.85 0.51
HC87-126 705754 5711247 353 142 60 277 20.19 20.95 0.76 0.58
38.37 39.13 0.76 0.68
53.99 54.75 0.76 0.58
73.05 74.57 1.52 5.52
91.20 92.72 1.52 0.77
94.25 97.30 3.05 1.65

Page | 14

==> picture [113 x 34] intentionally omitted <==

Hole No. Easting Northing Elevation Azimuth Dip Drilled
Length		 From To Width Assay
(m) (m) (m) (m) g/t Au
HC87-126 705754 5711247 353 142 60 277 107.21 109.50 2.29 1.35
122.06 122.82 0.76 1.23
132.00 132.31 0.31 2.98
163.33 164.09 0.76 2.57
197.95 198.71 0.76 1.74
HC87-127 705771 5711257 354 142 60 264 24.10 24.86 0.76 0.75
43.62 44.47 0.85 0.82
48.25 49.01 0.76 0.72
52.09 52.86 0.77 1.02
64.23 64.97 0.74 1.68
76.56 77.32 0.76 1.57
100.19 101.72 1.53 4.52
107.54 108.31 0.77 8.53
112.85 113.61 0.76 1.47
115.05 115.53 0.48 0.82
126.73 132.68 5.95 1.34
189.04 189.41 0.37 0.89
HC87-128 705758 5711225 353 142 60 255 12.51 14.79 2.28 1.22
49.56 50.33 0.77 0.61
53.99 54.75 0.76 0.75
60.24 60.70 0.46 0.68
116.51 118.19 1.68 2.16
146.25 147.77 1.52 0.72
247.66 248.42 0.76 1.26
HC87-129 705751 5711276 355 142 60 264 70.61 71.37 0.76 1.23
86.93 87.69 0.76 0.92
103.09 104.16 1.07 1.44
131.46 134.51 3.05 1.47
183.00 183.76 0.76 0.58
193.37 194.35 0.98 0.65
HC87-172 706185 5711705 346 180 57 115 NSI
HC87-174 706146 5711694 348 180 55 81 14.55 15.40 0.85 3.42
24.58 26.14 1.56 0.53
44.23 44.80 0.57 0.58
HC87-178 706074 5711673 350 180 50 97 15.37 15.65 0.28 0.96
22.27 23.03 0.76 1.06
HC87-179 706078 5711672 352 180 60 91 22.94 23.27 0.33 2.40
29.86 30.62 0.76 0.68
86.74 87.50 0.76 0.68
HC87-181 706135 5711620 354 0 50 160 131.76 132.68 0.92 0.78
138.17 138.93 0.76 1.13
141.22 141.83 0.61 0.61

Page | 15

==> picture [113 x 34] intentionally omitted <==

Hole No. Easting Northing Elevation Azimuth Dip Drilled
Length		 From To Width Assay
(m) (m) (m) (m) g/t Au
HC87-193 705703 5711198 353 160 60 194 63.68 64.17 0.49 0.75
119.07 119.47 0.40 1.71
121.97 122.73 0.76 2.74
127.03 127.80 0.77 1.37
158.45 159.21 0.76 0.68
185.68 185.87 0.19 0.51
HC87-195 705712 5711161 351 160 60 149 39.19 39.96 0.77 0.58
46.48 47.67 1.19 1.16
55.82 57.34 1.52 6.46
63.78 64.05 0.27 3.32
66.86 67.28 0.42 5.86
86.83 87.32 0.49 0.54
101.29 102.05 0.76 1.09
HC88-234 706127 5711572 355 140 45 93 28.88 28.98 0.10 0.79
33.37 33.82 0.45 1.20
67.44 68.47 1.03 0.89
73.02 73.78 0.76 0.93
82.81 84.64 1.83 0.99
HC88-235 706102 5711550 357 140 48 93 44.07 44.84 0.77 0.34
79.00 79.67 0.67 0.93
80.28 81.19 0.91 0.86
84.30 85.83 1.53 5.20
HC88-236 706078 5711529 357 140 47 99 63.87 64.63 0.76 0.79
66.49 67.98 1.49 1.71
76.13 76.89 0.76 0.65
79.57 81.83 2.26 2.71
85.67 86.50 0.83 2.13
86.96 87.72 0.76 0.62
89.79 90.55 0.76 0.34
92.84 93.48 0.64 0.62
94.67 96.14 1.47 1.06
HC88-237 706057 5711511 358 140 47 105 2.14 2.90 0.76 0.58
36.78 37.09 0.31 2.09
42.52 43.19 0.67 0.82
47.49 50.94 3.45 0.99
67.28 68.32 1.04 1.17
68.63 69.60 0.97 0.51
70.15 70.91 0.76 3.22
100.44 101.11 0.67 0.82
HC88-238 706034 5711491 357 140 47 92 26.78 26.99 0.21 0.79
28.46 32.33 3.87 2.19
32.42 32.51 0.09 1.75

Page | 16

==> picture [113 x 34] intentionally omitted <==

Hole No. Easting Northing Elevation Azimuth Dip Drilled
Length		 From To Width Assay
(m) (m) (m) (m) g/t Au
51.55 52.49 0.94 2.78
HC88-239 706092 5711678 352 140 47 63 24.71 25.47 0.76 0.69
21.52 22.86 1.34 4.16
HC88-240 706109 5711675 354 150 47 50 24.69 28.47 3.78 5.76
33.92 34.17 0.25 5.66
HC88-241 706118 5711683 352 150 47 45 24.55 24.71 0.16 30.58
35.63 35.94 0.31 3.91
36.30 38.25 1.95 2.57
HC88-243 706141 5711679 350 150 47 41 11.68 12.08 0.40 0.51
13.91 14.27 0.36 0.62
35.20 35.81 0.61 25.44
HC88-244 706149 5711680 349 160 47 51 13.30 14.52 1.22 0.99
36.54 38.06 1.52 0.75
40.93 41.48 0.55 3.91
HC88-245 705866 5711498 363 140 47 70 NSI
HC88-246 705898 5711505 362 140 47 65 NSI
HC88-247 705934 5711508 361 140 47 66 14.03 14.67 0.64 0.65
HC88-248 705952 5711490 360 320 45 31 7.78 9.91 2.13 5.88
HC88-249 705862 5711399 359 140 47 93 NSI
HC88-250 705842 5711383 358 140 47 93 NSI
HC88-251 705817 5711364 358 140 47 90 17.05 17.35 0.30 0.55
27.05 27.82 0.77 2.30
28.43 28.76 0.33 1.30
33.61 34.37 0.76 0.51
37.94 40.41 2.47 0.99
46.79 58.50 11.71 2.02
61.46 62.46 1.00 1.47
HC88-252 705889 5711424 359 140 47 35 NSI
HC88-253 705947 5711450 358 140 47 92 NSI
HC88-254 706134 5711419 348 120 47 92 41.69 44.38 2.69 5.64
HC88-255 706140 5711385 344 140 47 114 15.28 16.87 1.59 2.02
18.70 19.22 0.52 5.86
HC88-256 706119 5711363 344 140 47 50 17.08 18.00 0.92 1.85
HC88-257 706101 5711332 344 140 47 38 8.08 8.54 0.46 0.69
17.08 17.54 0.46 1.37
28.06 29.74 1.68 0.96
HC88-258 706083 5711306 344 140 47 46 NSI
HC88-259 706062 5711286 344 140 47 41 20.13 24.10 3.97 1.78
HC88-260 706039 5711271 345 140 47 38 NSI
HC88-261 705859 5711157 347 140 47 67 1.22 4.58 3.36 2.16
HC88-262 705839 5711134 347 140 47 63 NSI
HC88-263 705815 5711114 347 140 47 66 57.34 57.95 0.61 1.34

Page | 17

==> picture [113 x 34] intentionally omitted <==

Hole No. Easting Northing Elevation Azimuth Dip Drilled
Length		 From To Width Assay
(m) (m) (m) (m) g/t Au
HC88-264 706190 5711362 343 140 47 79 NSI
HC88-265 705893 5711418 359 140 47 92 59.48 61.00 1.52 2.39
HC88-266 705794 5711347 357 140 47 92 12.81 13.02 0.21 1.68
13.36 14.58 1.22 0.81
14.64 14.95 0.31 2.06
15.56 15.86 0.30 1.65
65.58 66.34 0.76 0.69
79.30 79.45 0.15 1.06
89.79 90.43 0.64 0.51
HC88-267 705770 5711326 356 140 47 95 3.36 4.27 0.91 0.99
80.58 81.50 0.92 0.62
86.13 86.74 0.61 0.58
HC88-281 705979 5711351 350 140 47 185 32.03 32.94 0.91 0.65
45.14 46.06 0.92 0.58
65.27 68.02 2.75 0.86
79.30 79.45 0.15 1.06
100.04 100.96 0.92 1.03
114.99 115.60 0.61 0.55
116.97 117.55 0.58 1.30
132.68 133.90 1.22 0.75
143.23 143.87 0.64 2.37
157.69 159.21 1.52 1.58
PC-08-016 705931 5711535 362 168 50 122 NSI
PC-08-017 705882 5711521 363 168 50 155 NSI
PC-08-018 706142 5711679 350 187 52 74 40.27 40.91 0.64 9.70
PC-08-020 705965 5711431 356 140 63 284 6.40 14.30 7.90 0.83
21.55 22.55 1.00 1.80
86.80 100.80 14.00 3.89
128.40 135.70 7.30 3.74
155.30 156.30 1.00 1.16
177.45 179.30 1.85 0.92
200.00 204.90 4.90 13.97
PC-08-021 705802 5711262 352 140 53 248 9.00 10.00 1.00 0.76
54.70 55.00 0.30 0.67
66.60 72.80 6.20 1.06
74.40 77.60 3.20 2.35
PC-08-021 705802 5711262 352 140 53 248 80.65 81.10 0.45 4.70
85.30 95.80 10.50 2.37
101.05 101.95 0.90 1.22
108.80 111.60 2.80 8.56
169.55 170.50 0.95 1.85
PC-08-022 705822 5711352 358 142 50 299 6.85 8.50 1.65 1.44

Page | 18

==> picture [113 x 34] intentionally omitted <==

Hole No. Easting Northing Elevation Azimuth Dip Drilled
Length		 From To Width Assay
(m) (m) (m) (m) g/t Au
PC-08-022 705822 5711352 358 142 50 299 28.50 29.30 0.80 2.12
31.45 35.90 4.45 0.81
42.80 43.10 0.30 0.70
53.35 55.35 2.00 0.76
57.25 57.55 0.30 3.06
63.00 64.25 1.25 1.43
88.40 90.75 2.35 0.64
142.25 143.25 1.00 0.57
162.10 163.40 1.30 1.44
176.75 177.35 0.60 2.81
180.00 181.20 1.20 3.02
183.85 184.45 0.60 3.88
193.65 194.00 0.35 0.59
203.75 204.25 0.50 3.80
228.30 230.00 1.70 3.80
249.50 249.90 0.40 0.96
PC-08-023 705822 5711353 358 142 77 446 17.60 18.45 0.85 4.71
44.00 48.45 4.45 1.53
159.45 159.75 0.30 0.97
166.05 166.35 0.30 0.93
172.50 173.00 0.50 1.32
200.70 201.60 0.90 0.82
203.10 208.00 4.90 1.06
213.95 214.80 0.85 0.52
269.45 269.95 0.50 2.29
272.75 273.75 1.00 4.54
309.30 310.20 0.90 2.21
329.35 329.65 0.30 0.58
333.40 333.85 0.45 1.32
PC-08-024 705872 5711496 363 140 59 366 288.00 289.20 1.20 1.45
304.50 305.50 1.00 3.24
332.00 333.20 1.20 1.43
337.45 338.00 0.55 3.84
339.50 340.20 0.70 1.03
346.70 348.05 1.35 0.86
354.50 356.30 1.80 4.49
PC-08-025 705872 5711496 363 142 69 504 200.58 201.53 0.95 1.15
213.10 213.70 0.60 0.88
229.30 230.40 1.10 0.59
251.88 252.63 0.75 1.49
301.18 302.28 1.10 1.17
303.78 304.28 0.50 1.38

Page | 19

==> picture [113 x 34] intentionally omitted <==

Hole No. Easting Northing Elevation Azimuth Dip Drilled
Length		 From To Width Assay
(m) (m) (m) (m) g/t Au
PC-08-025 705872 5711496 363 142 69 504 312.90 313.90 1.00 0.81
364.72 365.72 1.00 0.91
374.20 374.80 0.60 1.38
383.75 384.55 0.80 0.81
388.45 389.58 1.13 1.34
399.00 400.30 1.30 1.42
405.95 406.25 0.30 1.39
415.25 415.55 0.30 0.64
420.50 421.00 0.50 0.50
427.05 427.45 0.40 0.52
PC-08-026 705918 5711594 362 140 58 420 212.00 212.30 0.30 0.68
224.10 224.40 0.30 0.72
225.40 228.05 2.65 1.15
298.00 300.20 2.20 3.00
335.00 335.45 0.45 1.12
345.25 346.80 1.55 0.69
354.35 355.20 0.85 1.40
359.35 360.00 0.65 1.72
362.50 363.00 0.50 0.74
389.50 390.50 1.00 0.97
PC-08-027 705918 5711594 362 140 72 525 57.50 58.00 0.50 0.56
229.00 229.80 0.80 0.80
240.75 242.45 1.70 0.58
316.33 318.80 2.47 0.77
346.45 354.40 7.95 3.10
361.17 364.90 3.73 4.48
373.55 373.85 0.30 0.57
377.85 378.85 1.00 1.21
409.00 412.00 3.00 0.46
420.45 421.75 1.30 14.82
451.50 455.60 4.10 1.88
460.60 462.60 2.00 1.23
465.60 466.10 0.50 0.87
489.00 490.50 1.50 5.01
504.15 504.80 0.65 0.59
PC-09-028 705924 5711601 362 140 75 575 112.20 112.70 0.50 0.93
273.90 278.00 4.10 6.40
281.50 284.00 2.50 1.66
286.00 290.70 4.70 0.90
299.00 299.70 0.70 0.62
302.00 307.20 5.20 1.62
376.00 376.50 0.50 2.02

Page | 20

==> picture [113 x 34] intentionally omitted <==

Hole No. Easting Northing Elevation Azimuth Dip Drilled
Length		 From To Width Assay
(m) (m) (m) (m) g/t Au
388.00 388.45 0.45 1.23
556.75 557.60 0.85 2.36
561.45 562.80 1.35 4.96
PC-09-036 705900 5711666 345 135 71 668 117.60 120.90 3.30 0.58
172.00 172.90 0.90 1.15
289.10 292.20 3.10 4.13
300.60 301.50 0.90 0.86
311.00 312.40 1.40 0.68
314.60 316.60 2.00 1.35
318.10 324.70 6.60 14.20
343.80 344.60 0.80 2.82
347.30 348.90 1.60 0.69
386.40 387.20 0.80 0.53
416.25 416.85 0.60 0.61
420.80 421.40 0.60 11.41
428.00 429.00 1.00 8.11
440.50 441.00 0.50 0.55
486.10 487.00 0.90 7.00
520.00 520.80 0.80 0.94
526.30 527.30 1.00 0.64
PC-09-037 705928 5711506 362 140 61 358 144.50 145.00 0.50 1.43
146.50 147.00 0.50 0.72
149.50 161.00 11.50 1.27
168.00 185.00 17.00 3.97
246.10 246.55 0.45 1.45
299.30 299.60 0.30 2.36
317.00 318.00 1.00 3.00
353.00 354.00 1.00 0.66
PC-09-038 705819 5711545 358 320 50 614 87.45 88.15 0.70 0.57
127.50 130.40 2.90 0.88
152.90 153.70 0.80 0.56
488.81 489.31 0.50 1.65
PC-09-039 705945 5711417 356 140 63 242 11.55 12.40 0.85 0.50
105.60 106.55 0.95 0.70
182.00 186.80 4.80 1.56
191.40 192.70 1.30 1.74
PC-09-039 705945 5711417 356 140 63 242 195.80 200.60 4.80 1.20
209.25 212.90 3.65 4.68
220.10 222.40 2.30 0.41
233.40 234.40 1.00 1.16
118.00 119.60 1.60 1.63
PC-09-040 705987 5711456 357 140 63 263 124.05 132.00 7.95 1.48

Page | 21

==> picture [113 x 34] intentionally omitted <==

Hole No. Easting Northing Elevation Azimuth Dip Drilled
Length		 From To Width Assay
(m) (m) (m) (m) g/t Au
PC-09-040 705987 5711456 357 140 63 263 147.75 148.15 0.40 7.78
157.00 158.00 1.00 1.05
169.60 170.65 1.05 4.55
173.10 173.95 0.85 0.63
176.00 176.70 0.70 7.69
195.40 196.90 1.50 0.93
198.40 198.90 0.50 0.61
203.55 205.00 1.45 2.38
207.70 208.20 0.50 7.77
217.40 218.90 1.50 1.52
226.00 227.60 1.60 0.77
PC-09-041 705876 5711691 342 135 73 464 74.00 76.40 2.40 0.76
89.00 89.50 0.50 1.16
167.00 167.50 0.50 0.66
285.00 285.40 0.40 3.05
294.70 295.40 0.70 0.78
381.20 382.00 0.80 1.29
385.00 386.00 1.00 1.56
PC-09-043 705950 5711580 361 355 75 497 102.40 103.00 0.60 0.89
204.00 205.20 1.20 1.97
365.00 366.00 1.00 1.05
392.40 399.00 6.60 1.03
401.00 402.00 1.00 0.62
PC-09-044 705934 5711608 362 350 74 560 31.30 31.80 0.50 5.25
111.50 112.50 1.00 0.72
232.00 233.00 1.00 0.60
286.70 290.50 3.80 1.25
364.80 365.30 0.50 1.34
446.70 447.40 0.70 1.12
471.70 472.70 1.00 8.98
514.00 516.00 2.00 0.70
518.00 519.00 1.00 0.71
PC-09-045 706012 5711676 350 175 73 458 162.30 163.20 0.90 1.17
266.00 266.90 0.90 0.63
331.50 331.95 0.45 1.52
400.80 402.80 2.00 0.72
PC-09-046 705998 5711530 360 175 72 524 167.40 169.20 1.80 4.06
190.00 193.00 3.00 0.78
204.90 210.10 5.20 2.07
218.20 218.80 0.60 1.09
222.70 224.00 1.30 0.97
233.60 234.80 1.20 1.04

Page | 22

==> picture [113 x 34] intentionally omitted <==

Hole No. Easting Northing Elevation Azimuth Dip Drilled
Length		 From To Width Assay
(m) (m) (m) (m) g/t Au
PC-09-046 705998 5711530 360 175 72 524 322.90 323.80 0.90 1.04
332.20 332.80 0.60 3.19
364.00 365.00 1.00 0.66
369.00 370.00 1.00 0.70
376.30 380.30 4.00 0.79
417.75 418.25 0.50 0.68
450.00 451.00 1.00 0.62
PC-09-047 705994 5711393 353 140 55 362 26.90 28.50 1.60 0.77
96.35 98.08 1.73 2.89
101.00 102.00 1.00 0.57
108.00 109.00 1.00 0.50
130.10 133.75 3.65 8.02
137.55 138.55 1.00 0.73
154.70 155.70 1.00 0.58
163.20 164.00 0.80 0.69
PC-09-048 705796 5711415 360 170 52 671 15.70 17.20 1.50 0.64
88.00 93.00 5.00 2.06
119.00 121.70 2.70 0.52
125.00 125.90 0.90 1.77
140.80 141.60 0.80 0.78
194.70 195.70 1.00 0.58
224.70 225.70 1.00 0.98
244.64 247.00 2.36 0.44
269.95 270.65 0.70 0.72
313.00 314.00 1.00 4.21
PC-09-049 705794 5711416 360 170 75 350 10.00 11.00 1.00 3.72
36.65 55.00 18.35 1.46
143.50 144.50 1.00 3.25
147.50 152.00 4.50 0.51
PC-09-050 705700 5711323 359 170 53 515 50.00 52.00 2.00 2.48
116.80 117.40 0.60 0.71
119.00 120.00 1.00 2.68
159.00 160.00 1.00 1.04
163.00 164.60 1.60 0.68
171.65 172.00 0.35 2.57
196.70 197.20 0.50 7.96
PC-09-050 705700 5711323 359 170 53 515 199.30 200.00 0.70 0.71
223.40 224.00 0.60 2.46
237.00 237.50 0.50 2.53
239.00 239.80 0.80 0.68
241.50 242.50 1.00 0.55
248.50 257.50 9.00 1.78

Page | 23

==> picture [113 x 34] intentionally omitted <==

Hole No. Easting Northing Elevation Azimuth Dip Drilled
Length		 From To Width Assay
(m) (m) (m) (m) g/t Au
PC-09-050 705700 5711323 359 170 53 515 271.50 273.40 1.90 2.16
281.10 282.60 1.50 4.01
319.00 319.50 0.50 1.96
PC-09-051 705700 5711323 359 170 75 286 9.70 10.40 0.70 0.59
81.00 82.00 1.00 3.69
102.20 105.70 3.50 11.00
229.55 230.60 1.05 0.76
234.50 235.30 0.80 0.52
255.40 256.10 0.70 0.59
267.83 268.13 0.30 1.94
PC-09-053 705627 5711491 343 170 53 428 79.00 79.50 0.50 0.58
113.00 114.00 1.00 1.06
340.00 341.00 1.00 1.01
354.45 355.54 1.09 1.92
396.00 398.00 2.00 1.85
420.40 423.00 2.60 1.16
PC-09-054 705686 5711518 346 170 78 488 41.50 41.85 0.35 3.64
340.00 341.00 1.00 1.57
PC-09-055 705765 5711554 350 170 75 381 81.00 82.00 1.00 1.37
266.70 267.70 1.00 1.00
296.00 297.00 1.00 0.98
PC98-01 705951 5711481 360 200 71 630 16.10 17.08 0.98 0.92
93.33 95.30 1.97 0.71
401.53 403.73 2.20 4.35
409.16 410.84 1.68 1.00
424.26 426.05 1.79 0.75
441.03 441.58 0.55 1.13
PC98-02 705865 5711444 362 200 70 544 390.61 394.15 3.54 1.74
396.35 402.23 5.88 0.72
475.95 477.20 1.25 1.37
PC98-03 705981 5711572 359 200 70 435 256.72 257.51 0.79 1.16
306.53 307.44 0.91 0.54
313.69 315.92 2.23 1.16
317.72 323.61 5.89 3.61
367.10 367.98 0.88 3.39
371.19 375.24 4.05 0.74
PC98-03 705981 5711572 359 200 70 435 383.08 386.13 3.05 2.04
PC98-04 705897 5711530 363 200 70 679 561.51 563.03 1.52 0.78
570.59 571.27 0.68 0.72
572.76 573.37 0.61 3.46
587.43 588.96 1.53 0.75
651.48 653.01 1.53 0.51

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Hole No. Easting Northing Elevation Azimuth Dip Drilled
Length		 From To Width Assay
(m) (m) (m) (m) g/t Au
PC99-08 705949 5711427 357 330 56 109 46.40 48.00 1.60 1.04
PC99-14 706013 5711434 355 330 45 114 8.00 9.00 1.00 0.99
13.40 17.90 4.50 2.24
22.35 23.55 1.20 0.75
W-22 705524 5710954 350 154 30 150 34.29 34.56 0.27 4.11
38.71 48.01 9.30 1.27
58.58 59.59 1.01 2.06
145.08 146.61 1.53 0.69
W-37 705543 5710980 350 156 45 106 9.05 9.14 0.09 0.69
13.72 14.42 0.70 2.06
W-42 705484 5710961 350 153 45 149 NSI
W-49 705523 5710955 350 154 60 126 92.45 93.27 0.82 0.52

TABLE 3: Auteco Rock Chip Sampling – Springer Shaft Area

Assay results for reconnaissance rock chip sampling in the Springer Shaft area.

Easting Northing Exposure
**Type **		 Sample
**Type **		 Structure Au ppm
703374.00 5708260.00 Outcrop Rock Chip Vein Qtz 0.04
703374.00 5708260.00 Outcrop Rock Chip Vein Qtz 5.66
703370.00 5708264.00 Outcrop Rock Chip Vein Qtz 4.34
703370.00 5708266.00 Outcrop Rock Chip Vein Qtz 1.46
703369.00 5708262.00 Outcrop Rock Chip Vein Qtz 4.33
703369.00 5708263.00 Outcrop Rock Chip Vein Qtz 0.24
703369.00 5708263.00 Outcrop Rock Chip Vein Qtz 0.01
703152.00 5708612.00 Outcrop Rock Chip Vein Qtz 0.05
703152.00 5708612.00 Outcrop Rock Chip Vein Qtz 0.01
703152.00 5708612.00 Outcrop Rock Chip Vein Qtz 0.02
703154.00 5708613.00 Outcrop Rock Chip Vein Qtz 0.01
703166.00 5708588.00 Outcrop Rock Chip Vein Qtz 0.00
703166.00 5708588.00 Outcrop Rock Chip Vein Qtz 0.01
703166.00 5708588.00 Outcrop Rock Chip Vein Qtz 0.13
703166.00 5708588.00 Outcrop Rock Chip Vein Qtz 0.01
703169.00 5708555.00 Outcrop Rock Chip Vein Qtz 0.18
703169.00 5708555.00 Outcrop Rock Chip Vein Qtz 1.50
703213.00 5708346.00 Outcrop Rock Chip Vein Qtz 0.22
703197.00 5708324.00 Outcrop Rock Chip Vein Qtz 1.02
703262.00 5708260.00 Outcrop Rock Chip Vein Qtz 145.70
703272.00 5708287.00 Outcrop Rock Chip Vein Qtz 0.16
703272.00 5708287.00 Outcrop Rock Chip Vein Qtz 6.18
703306.00 5708257.00 Outcrop Rock Chip Vein Qtz 0.02

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APPENDIX B - JORC CODE, 2012 EDITION

Table 1 – JORC Code 2012 Edition

Section 1 Sampling Techniques and Data (Criteria in this section apply to all succeeding sections.)

Criteria JORC Code explanation JORC Code explanation Commentary Commentary
Sampling techniques • Nature and quality of sampling (eg cut • Drilling since 2008, quoted with PC- prefix is from PC Gold
channels, random chips, or specific exploration with NQ diameter (47.6mm) drill core was
specialised industry standard measurement recovered from drilling. Noramco drilling, CP- prefix is BQ
tools appropriate to the minerals under diameter (36.5mm). All other quoted intercepts and the bulk
investigation, such as down hole gamma of historical drilling data is of NQ diameter including Auteco
sondes, or handheld XRF instruments, etc). drilling subject to this release (prefix AUDD**).
These examples should not be taken as • The core was sawn in half following a sample cutting line
limiting the broad meaning of sampling. determined by geologists during logging and submitted for
• Include reference to measures taken to analysis on nominal 1m (1ft for historical drillholes) intervals
ensure sample representivity and the or defined by geological boundaries determined by the
appropriate calibration of any measurement logging geologist.
tools or systems used. • Samples from PC Gold holes (PC- prefix) post 2008 were
• Aspects of the determination of submitted to ALS Chemex in Thunder Bay and North
mineralisation that are Material to the Vancouver for analysis. Samples were prepared for analysis
Public Report. using a jaw crusher which was cleaned with a silica abrasive
• In cases where ‘industry standard’ work has between samples resulting in 90% of the sample passing
been done this would be relatively simple through an 8 mesh screen. A split of the crushed sample
(eg ‘reverse circulation drilling was used to weighing 1000g was then pulverised to 90% passing a 150
obtain 1 m samples from which 3 kg was mesh screen. Sample pulps were analysed for gold by Fire
pulverised to produce a 30 g charge for fire Assay using 50g sample charge with atomic absorption
assay’). In other cases, more explanation spectroscopy (AAS) finish. If the returned assay result was
may be required, such as where there is equal to or greater than 5g/t then the sample was reassayed
coarse gold that has inherent sampling by Fire Assay with a gravimetric finish. Samples from
problems. Unusual commodities or historical diamond drilling programs conducted between
mineralisation types (eg submarine nodules) 1981 and 2008 were dispatched to a variety of accredited
may warrant disclosure of detailed laboratories in Canada for Fire Assay analysis. Historical drill
information. results prior to 1981are Fire Assay conducted by unknown
laboratories (most likely the mine laboratory during the
operational life of the Pickle Crow Mine) and with unknown
preparation methods and assay charge, however previous
operators have duplicated and verified results. Recent
sampling by Auteco minerals on drill holes subject to this
release (prefix AUDD**) were submitted to AGAT
Laboratories, Thunder Bay for analysis. Auteco samples
undergo the same preparation and analysis techniques
previously used for PC Gold.
• All samples >10g/t gold and samples collected from PC gold
drilling (PC- prefix) suspected of nugget gold were
additionally sent for pulp metallics analysis.
•
Drilling techniques • Drill type (eg core, reverse circulation, open- • Drilling quoted with PC- prefix is from PC Gold exploration
hole hammer, rotary air blast, auger, with NQ diameter (47.6mm) drill core was recovered from
Bangka, sonic, etc) and details (eg core drilling. Noramco drilling, CP- prefix is BQ diameter
diameter, triple or standard tube, depth of (36.5mm). All other drilling is NQ diameter including Auteco
diamond tails, face-sampling bit or other drilling subject to this release (prefix AUDD**).
type, whether core is oriented and if so, by
what method,etc).
Drill sample recovery • Method of recording and assessing core and • All drilling quoted is NQ diamond core (including Auteco
chip sample recoveries and results assessed. drilling subject to this release -prefix AUDD**) with the
• Measures taken to maximise sample exception of Noramco drillholes (CP- prefix). RQD was
recovery and ensure representative nature recorded for all diamond drilling as per industry standard. A
of the samples. review of the available diamond drill core RQD’s from the
• Whether a relationship exists between Pickle Crow project (PC- prefix and recently completed
sample recovery and grade and whether Auteco drilling - AUDD* prefix) indicated that nearly all of the
sample bias may have occurred due to holes produced excellent recoveries with an average of
preferential loss/gain of fine/coarse >90%. For drilling conducted by other operators recoveries
material. are unknown although reports do not highlight significant
core loss.
• A review of RQD results does not highlight a relationship
between sample recovery and grade or highlight any sample
bias due to loss of material.

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Criteria JORC Code explanation JORC Code explanation Commentary Commentary
Logging • Whether core and chip samples have been • All PC Gold and Auteco samples (PC- and AUDD* hole prefix)
geologically and geotechnically logged to a were geologically logged. Lithology, veining, alteration,
level of detail to support appropriate mineralisation and weathering are all recorded in the
Mineral Resource estimation, mining studies geology table of the drill hole database. Other historical
and metallurgical studies. drillholes have been similarly logged and records have been
• Whether logging is qualitative or digitized from report format.
quantitative in nature. Core (or costean, • Geological logging of Diamond Core samples is qualitative
channel, etc) photography. and descriptive in nature.
• The total length and percentage of the • All holes quoted have been logged in their entirety.
relevant intersections logged.
Sub-sampling • If core, whether cut or sawn and whether • All drilling quoted from PC Gold and Auteco exploration (PC-
techniques and sample quarter, half or all core taken. and AUDD* hole prefix) is.NQ diameter (47.6mm) drill core
preparation • If non-core, whether riffled, tube sampled, recovered from drilling. All other quoted intercepts are NQ
rotary split, etc and whether sampled wet or diameter with the exception of Noramco drilling (CP- Prefix)
dry. which is BQ (36.5mm) diameter. The core was sawn in half
• For all sample types, the nature, quality and following a sample cutting line determined by geologists
appropriateness of the sample preparation during logging and submitted for analysis on nominal 1m (or
technique. 1ft) intervals or defined by geological boundaries determined
• Quality control procedures adopted for all by the logging geologist.
sub-sampling stages to maximise • This sampling technique is industry standard and deemed
representivity of samples. appropriate.
• Measures taken to ensure that the sampling • PC Gold QA/QC protocols include the use of crush duplicates,
is representative of the in-situ material ¼ core field duplicates, the insertion of certified reference
collected, including for instance results for materials (CRM’s) including low, medium and high-grade
field duplicate/second-half sampling. standards and coarse blanks. This was accomplished by
• Whether sample sizes are appropriate to the inserting the QA/QC samples sequentially in the drill core
grain size of the material being sampled. sample numbering system. One set of the four QA/QC types
were inserted every 30 samples consisting of 1 crush
duplicate, 1 ¼ split field duplicate, 1 CRM (altering between
low, medium and high standard) and 1 blank. This resulted in
approximately every seventh sample being a QA/QC sample.
Auteco minerals (AUDD* prefix holes) follows the same
QA/QC protocols but with CRM’s and duplicates inserted
every 25 samples. QAQC procedures are not disclosed in
previous reporting but results are consistent with visual
observations of mineralisation as recorded in the geological
logs and qualitative proportions of logged veining and
sulphide content. Post-Mining Pickle Crow Property
operators employed the usual in-laboratory blanks,
standards and duplicate analyses to ensure precision and
accuracy of results. Whist there is no documentation
available for earlier results sample duplicate verification has
been conducted.
• Sample size is deemed industry standard for Orogenic Gold
deposits.
•
Quality of assay data • The nature, quality and appropriateness of • Samples were submitted to ALS Chemex in Thunder Bay and
and laboratory tests the assaying and laboratory procedures used North Vancouver for analysis. Samples were prepared for
and whether the technique is considered analysis using a jaw crusher which was cleaned with a silica
partial or total. abrasive between samples resulting in 90% of the sample
• For geophysical tools, spectrometers, passing through an 8 mesh screen. A split of the crushed
handheld XRF instruments, etc, the sample weighing 1000g was then pulverized to 90% passing a
parameters used in determining the analysis 150 mesh screen. Sample pulps were analysed for gold by
including instrument make and model, Fire Assay using 50g sample charge with atomic absorption
reading times, calibrations factors applied spectroscopy (AAS) finish. If the returned assay result was
and their derivation, etc. equal to or greater than 5g/t then the sample was reassayed
• Nature of quality control procedures by Fire Assay with a gravimetric finish. . Samples from
adopted (eg standards, blanks, duplicates, historical diamond drilling programs conducted between
external laboratory checks) and whether 1981 and 2008 were dispatched to a variety of accredited
acceptable levels of accuracy (i.e. lack of laboratories in Canada for Fire Assay analysis. Historical drill
bias) and precision have been established. results prior to 1981are Fire Assay conducted by unknown
laboratories (most likely the mine laboratory during the
operational life of the Pickle Crow Mine) and with unknown
preparation methods and assay charge, however previous
operators have duplicated and verified results. Recent
sampling by Auteco minerals on drill holes subject to this
release (prefix AUDD**) were submitted to AGAT
Laboratories,Thunder Bayfor analysis. Auteco samples

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Criteria JORC Code explanation JORC Code explanation Commentary Commentary
undergo the same preparation and analysis techniques
previously used for PC Gold.
• In addition to the Company QAQC samples (described
earlier) included within the batch the laboratory included its
own CRM’s (Certified Reference Materials), blanks and
duplicates.
• Sample assay results continue to be evaluated through
control charts, log sheets, sample logbook and signed assay
certificates to determine the nature of any anomalies or
failures and failures were re-assayed at the laboratory. Check
assaying was also conducted on 1 in every 20 samples. QAQC
protocols are unknown for historical drill programs (without
the PC- hole prefix).
• QA/QC work is industry standard and acceptable levels of
accuracy and precision have been established.
•
Verification of sampling • The verification of significant intersections • Historical significant intersections quoted have been verified
and assaying by either independent or alternative by Independent Geological Consultants Micon International
company personnel. Limited. For more details see document ‘Updated Mineral
• The use of twinned holes. Resource Estimate for the Pickle Crow Property, Patricia
• Documentation of primary data, data entry Mining Division, Northwestern Ontario, Canada’ NI-43-101
procedures, data verification, data storage dated 15 June 2018 and available from System for Electronic
(physical and electronic) protocols. Document Analysis and Retrieval (www.sedar.com) for First
• Discuss any adjustment to assay data. Mining Inc.
• There are no twinned holes in the dataset but a comparison
of the results of different drilling generations showed that
results were comparable. In addition previous operators
have duplicated and verified results by re-sampling historical
core.
• For PC Gold drilling (PC- prefix), once all logging data was
completed, core marked up, logging and sampling data was
entered directly into the Gems Logger program (an MS
Access-based database and stored on the onsite server. At
approximately weekly intervals the server onsite was
synchronised with the main server in Thunder bay. Only one
individual was responsible for synchronising the field and
office databases. Auteco records new drilling data in Excel
spreadsheet format synchronized with the Auteco server in
Perth, Australia.
• No adjustments were made to assay data but the procedure
to determine which gold assay to enter into the database is
as follows. If a pulp metallic assay was performed it was
used. If a pulp metallic assay was not performed, then a
gravimetric assay was used. If a gravimetric assay was not
performed, then the AAS assay was used. If re-assays were
preformed then the first analysis was used unless a QA/QC
investigation proved that the first assay was suspect, in
which case the second analysis was then used.
Location of data points • Accuracy and quality of surveys used to • Upon completion of PC Gold drillholes collars (PC Gold prefix)
locate drill holes (collar and down-hole were surveyed by third party contractors Delta Surveying and
surveys), trenches, mine workings and other J.D.Barnes of Thunder Bay to with +/- 1m using an SX Blue.
locations used in Mineral Resource For all other drilling hole collars were converted from local
estimation. grids or digitised from georeferenced maps. Where possible
• Specification of the grid system used. these historical surface drillholes have been re-located,
• Quality and adequacy of topographic surveyed and verified in the field. Drillhole locations are also
control. recorded by the Ontario Ministry of Northern Development
and Mines in freely available GIS datasets. Auteco drilling
(AUDD* prefix) has been surveyed with a hand-held GPS to
an accuracy of less than 3m.
• A variety of down hole survey tools have been used on the
property. All holes were surveyed at 50m intervals while
drilling using an EZY Shot magnetic compass based tool
supplied by the drillers. In conjunction with this, all holes
were surveyed after completion with a non-magnetic down-
hole instrument. A variety of tools were trialled including
Maxibore tool provided by Reflex Instruments, a Devifelx tool
operated by TECH Directional services and an SPT North
SeekingGyro. For Auteco drillingsubject to this release down

Page | 28

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Criteria JORC Code explanation JORC Code explanation Commentary Commentary
hole surveys have been conducted by a REFLEX North
Seeking Gyro. For further historical details of survey
reproducibility and tools used please refer to document
‘Updated Mineral Resource Estimate for the Pickle Crow
Property, Patricia Mining Division, Northwestern Ontario,
Canada’ NI-43-101 dated 15 June 2018 and available from
System for Electronic Document Analysis and Retrieval
(www.sedar.com) for First Mining Inc. For all drilling not
conducted by PC Gold (lacking the PC- prefix) surveys were
conducted during drilling with hole orientation recorded by
the geologist in the field. Downhole surveys of dip are
recorded by azimuths away from the collar are generally
lacking.
• All location data is in UTM grid (NAD83 Zone 15) except
where noted.
• Topographic Control for PC Gold and Auteco drilling (PC- and
AUDD* prefix) is from a DTM created generated from a
LIDAR survey completed in 2008 and are to an accuracy of
<1m and verified by drill collar surveys. For all other collar
data elevation was estimated from contours provided from
SRTM. Topographic control for underground drillhole collars
has been digitised from level plans or converted from mine
grids. All surface collars have now been projected to a DTM
generated from a LIDAR survey completed in 2008 and are to
an accuracy of <1m.
Data
spacing		 and • Data spacing for reporting of Exploration • Due to the nature of mineralisation the hole spacing is highly
distribution Results. variable and of a progressive exploration in nature.
• Whether the data spacing, and distribution • Data spacing is considered sufficient to establish geological
is sufficient to establish the degree of and grade continuities for mineral resource estimation at the
geological and grade continuity appropriate Inferred Category
for the Mineral Resource and Ore Reserve • No sample compositing was applied.
estimation procedure(s) and classifications
applied.
• Whether sample compositing has been
applied.
Orientation of data in • Whether the orientation of sampling • Drill hole orientations were designed to test perpendicular or
relation to geological achieves unbiased sampling of possible sub-perpendicular to the orientation of the intersected
structure structures and the extent to which this is mineralisation. Drilling was typically oriented perpendicular
known, considering the deposit type. to the trend of geophysical anomalism and the mapped
• If the relationship between the drilling strike and dip of observed mineralisation on surface and
orientation and the orientation of key elsewhere in the project area.
mineralised structures is considered to have • Due to the density of drilling and the orientation of drilling
introduced a sampling bias, this should be perpendicular to mineralised bodies there is limited bias
assessed and reported if material. introduced bydrillhole orientation.
Sample security • The measures taken to ensure sample • For PC Gold and Auteco drilling (PC- and AUDD* prefix), once
security. the core samples are cut, bagged and sealed with zip ties, ten
samples are put into rice bags which are sealed and secured
with numbered security tags. Once samples arrive at the
laboratory the security tags and corresponding samples were
verified against onsite logs. Prior to shipment samples are
stored in a locked building onsite. Site is always occupied,
and no samples are left at the project during field breaks. For
all other drillholes the measures taken to ensure sample
security are unknown.
Audits or reviews • The results of any audits or reviews of • An audit and review of sampling techniques and data was
sampling techniques and data. conducted as part of NI-43-101 resource estimation by
Independent Consultants Micon International in 2018. Please
refer to document ‘Updated Mineral Resource Estimate for
the Pickle Crow Property, Patricia Mining Division,
Northwestern Ontario, Canada’ NI-43-101 dated 15 June
2018 and available from System for Electronic Document
Analysis and Retrieval (www.sedar.com) for First Mining Inc.
•

Page | 29

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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 tenement and • Type, reference name/number, location and • The mineral concessions of the Pickle Crow project consist of
land tenure status ownership including agreements or material 106 patented mining claims covering 1,712ha and 88
issues with third parties such as joint ventures, contiguous, unpatented claims covering approximately
partnerships, overriding royalties, native title 14,048ha. Of the 106 patented claims 98 (the Pickle Crow
interests, historical sites, wilderness or national Lease) are held in the name of Teck Cominco Limited (Teck)
park and environmental settings. and 8 are held in the name of PC Gold. The unpatented
• The security of the tenure held at the time of claims are held in the name of PC gold. PC Gold has a lease
reporting along with any known impediments to on the 98 patented claims held by Teck which expires in
obtaining a license to operate in the area. 2067. These leasehold claims are subject to two net smelter
return (NSR) royalties totalling 1.25%. The other 8 patented
claims (the Crowshore Patents), plus certain unpatented
claims are subject to NSR royalties ranging from 2% to 3%. A
full list of tenements along with details of relevant NSR’s as
they pertain to individual properties is given in Auteco ASX
releases dated: 28/01/2020 and 17/02/2020. An additional
600 claims were staked by Auteco subsidiary, Revel Resource
(JV) Ltd. and are subject to the terms of the Earn-In-
Arrangement.
• Auteco has entered into an agreement to acquire up to 80%
of the Pickle Crow Gold Project from First Mining. A payment
of C$50,000 has been made to First Mining. The
consideration for acquisition of the assets are as follows:
Upon signing a formal agreement: A further C$50,000 and
25,000,000 Shares in the capital of Auteco at a deemed issue
price of A$0.008 per share. Stage 1 Earn-In (51%): Spending
C$5,000,000 over three years comprising: Spending
C$750,000 within a 12-month period ('Expenditure Payment
1'): and Spending C$4,250,000 within a 24-month period
after Expenditure Payment 1 is satisfied; and Subject to
shareholder approval by Auteco, issuing to First Mining
100,000,000 Shares in Auteco. (together 'Stage 1 earn in').
Stage 2 Earn-In (a further 19%): Expending exploration
expenditure in the 24-month period commencing on the
date that Auteco satisfies the Stage 1 Earn-in of C$5,000,000
('Expenditure Payment 3'); and Within 90 days of completing
expenditure Payment 3, making a cash payment to Seller in
the amount of C$1,000,000 ('Expenditure Payment 4'),
(together the 'Stage 2 Earn In'). Also, Buy In: May buy a
further 10% interest by paying C$3,000,000 to First Mining;
and a 2% Net Smelter Return granted after the Stage 2 Earn-
In. Further details are included in ASX releases (17/02/2020
and 13/03/20).
• For a more complete discussion of 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 relating to the Pickle Crow Project
please refer to document ‘Updated Mineral Resource
Estimate for the Pickle Crow Property, Patricia Mining
Division, Northwestern Ontario, Canada’ NI-43-101 dated 15
June 2018 and available from System for Electronic
Document Analysis and Retrieval (www.sedar.com) for First
MiningInc.
Exploration done by • Acknowledgment and appraisal of exploration by • The first government survey of the area was performed by
other parties other parties. William McInnes of the Geological Survey of Canada (GSC)
along the Crow River from 1903 to 1905. Prospecting in the
Pickle Lake area commenced in 1926. In 1927, Lois Cohen of
Haileybury formed a prospecting group and early that winter
sent Alex and Murdock Mosher in to stake the first claims
(December 1927)on what ultimatelybecame the Central

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Criteria JORC Code explanation Commentary
Patricia Gold Mines property. These claims were optioned by
F.M Connell and Associates in August 1928 and Central
Patricia Gold Mines Limited was incorporated on 19
February, 1929. Diamond drilling commenced at Central
Patricia in February 1929 and production in March 1930. The
Central Patricia discovery paved the way from exploration in
the region which led to the discovery and initial drilling
(1929) of the first Pickle Crow orebody the No.1 Vein by
Northern Aerial Mineral Exploration Limited, a company set
up in 1928 by J.E. (Jack) Hammell. In 1929 gold was also
discovered by Albany River Miners Ltd. (Albany River) at the
No.16 vein on the Albany River claims to the east of the then
Pickle Crow property. Northern Aerial was acquired by Pickle
Crow Gold Mines Limited (PCGM) in 1934 with Jack Hammell
continuing as president. Production from the Pickle Crow
mine began on 17 April, 1935. Albany river sank the Albany
shaft to a depth of 190m between 1933 and 1938 and
completed extensive underground development. Winoga
Patricia Gold Mines was created in 1936 and drilled 73
surface diamond drill holes on a pie-shaped property located
between PCGM’s holdings and the Albany River Mines
ground to the east. A mine shaft was subsequently sunk on
the property in 1938. That same year, PCGM took over
ownership of both Albany River Mines and Winoga Patricia
Gold Mines through a new company called Albany River Gold
Mines Ltd. It is believed that the Winoga Patricia Gold Mines
shaft later became the No.3 Shaft of the Pickle Crow
operation. The Cohen- MacArthur zone, located 2km to the
north of the developing Pickle Crow mine, was discovered in
1933. A total of 14 surface diamond holes were drilled at
Cohen-MacArthur in the winter of 1936. This property was
optioned by PCGM in 1938, With the acquisition of the
Cohen-MacArthur claims, PCGM became one of the largest
land holders in the Pickle Lake area. The GSC completed a
regional synthesis of the Pickle Crow Greenstone belt during
this period as well. Ground and airborne geophysical surveys
have been completed over all or parts of the Pickle Crow
property at various times during its early history. A dip-
needle survey completed in 1936 on the Pickle Crow
property was useful in tracing out the bands of the iron
formation. A detailed magnetic survey was carried out over
the property by Teck (or its predecessor companies) around
1960. The property then underwent a series of ownerships
until it became wholly owned by Teck in 1971. The property
then sat dormant until 1973 when Pickle Crow Exploration
Ltd. Reviewed the economics of reopening the mine. In 1978,
a merger between Pickle Crow Explorations Ltd. And four
other companies saw Teck’s ownership reduced to 44.6%
and a new exploration company called Highland-Crow
Resources Ltd. Highland Crow went on to option the
property to Galant Gold Mines Limited in 1979. Gallant
performed a VLF_EM geophysical survey and drilled 47
surface diamond drill holes for 7,356m. The only known soil
geochemical survey done on the Pickle Crow property was
completed for Gallant in 1983. Soil values ranged from 10 to
12,000ppb with the high values attributed to mine tailings
and cultural anomalies. In 1983 the property returned to
Highland-Crow. Noramco Mining Corp. bought Highland-
Crow in 1988. Between 1985 and 1987 Highland-Crow
completed line-cutting, magnetometer and IP, geophysical
surveying, geological mapping, surface trenching, diamond
drilling and environmental baseline studies. Noramco drilled
surface exploration holes, completed geophysical surveys
and commenced dewateringof the No.1 shaft. Noramco

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Criteria JORC Code explanation Commentary
drilled 286 surface diamond drill holes for 46,189m and 79
underground holes for 9,341m. Noramco also commissioned
Historic (non-compliant) Resource Estimates. In 1994
Noramco changed its name to Quest Capital. Quest assigned
its interest to Pickle Crow Resources Inc. A total of 4 surface
diamond drill holes for 2,287m were completed. Quest then
sold its interest to Wolfden Resource Inc who entered into an
option agreement with Jonpol Explorations Ltd. Who drilled
18 surface diamond holes for 2,173.5m. Wolfden also
entered into a surface mining agreement with Cantera
Mining Limited in 2000. Canterra commenced building a
225tpd gravity mill on site in 2002 but was placed into
receivership in 2004. In 2006 Wolfden transferred Pickle
Crow to Premier Gold Mines Ltd. Before the property was
sold to PC Gold in 2007. PC Gold then explored the property
completing 184 holes for 62,968m by 2011 and 173 holes for
35,840.4m from 2011 to 2014 before commissioning an NI-
43-101 compliant Resource Estimate.
Geology • Deposit type, geological setting and style of • The Pickle Crow Gold Deposit is considered to be an Archean
mineralisation. low-sulphide gold-quartz vein type deposit, also known as
shear-hosted gold, Archean quartz-carbonate vein gold
deposits, Archean lode gold, Archean mesothermal gold
deposits or simply orogenic gold. The deposit occurs
primarily within mafic volcanics and banded iron formation
(BIF) units in the Pickle Crow assemblage of the Pickle Lake
Greenstone belt in the Uchi Lake Sub province of the
Superior Craton of the Canadian Shield.
Drill hole Information • A summary of all information material to the • Refer to Appendix A in ASX releases as indicated in this
understanding of the exploration results release as well as the current release for drill hole
including a tabulation of the following information for all reported drill holes for this JORC 2012
information for all Material drill holes: Table 1 and in accordance with ASX listing rule 5.7.2.
o
easting and northing of the drill hole collar
o
elevation or RL (Reduced Level – elevation
above sea level in meters) 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 clearlyexplain whythis is the case.
Data aggregation • In reporting Exploration Results, weighting • All drill hole intersections are reported above a lower cut-off
methods averaging techniques, maximum and/or grade of 0.5g/t Gold or 1g/t as indicated, with no upper cut
minimum grade truncations (eg cutting of high off grade has been applied. A maximum of 1m internal waste
grades) and cut-off grades are usually Material was allowed. Tabulated results are presented in previous ASX
and should be stated. announcements as indicated in the body of this release and
• Where aggregate intercepts incorporate short in Appendix A of this release)
lengths of high-grade results and longer lengths
of low-grade results, the procedure used for such • Metal equivalent values are not used
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 clearlystated.
Relationship between • These relationships are particularly important in • All intersections reported in the body of this release are
mineralisation widths the reporting of Exploration Results. down hole
and intercept lengths • If the geometry of the mineralisation with • The majority of the drill holes are drilled as close to
respect to the drill hole angle is known, its nature orthogonal to the plane of the mineralised lodes as possible.
should be reported. A number of drill holes have intersected the mineralisation at
• If it is not known and only the down hole lengths high angles.
are reported,there should be a clear statement • Onlydown hole lengths are reported.

Page | 32

==> picture [113 x 34] intentionally omitted <==

Criteria JORC Code explanation Commentary
to this effect (eg ‘down hole length, true width
not known’).
Diagrams • Appropriate maps and sections (with scales) and • Maps and sections are included in the body of this release as
tabulations of intercepts should be included for deemed appropriate by the competent person.
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 • Any significant higher-grade zones in historical drilling
Exploration Results is not practicable, quoted in this release have been reported in previous ASX
representative reporting of both low and high announcements as highlighted in the body of this release as
grades and/or widths should be practiced to well as Appendix A of this release)
avoid misleading reporting of Exploration Results.
• All results above 0.5g/t lower cut-off or 1g/t quoted in this
release have been reported in previous ASX announcements
as indicated in the body of this release as well as Appendix A
of this release)
Other substantive • Other exploration data, if meaningful and • Appropriate plans are included in the body of this release.
exploration data 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
contaminatingsubstances.
Further work • The nature and scale of planned further work • Auteco Minerals Limited is currently conducting drill testing
(e.g. tests for lateral extensions or depth of additional lodes as well as step out and infill drilling of
extensions or large-scale step-out drilling). existing lodes to further enhance the resources quoted in
• Diagrams clearly highlighting the areas of this release. More information is presented in the body of
possible extensions, including the main this report.
geological interpretations and future drilling • Diagrams in the main body of this release show areas of
areas, provided this information is not possible resource extension on existing lodes. The company
commercially sensitive. continues to identify and assess multiple other target areas
within thepropertyboundaryfor additional resources.

Page | 33

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