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FORTUNA METALS LTD Capital/Financing Update 2023

Sep 13, 2023

64952_rns_2023-09-13_b9e5d2cb-08e3-4ff2-b894-cfdaddc93f6e.pdf

Capital/Financing Update

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ABN 96 095 684 389

WEBSITE www.lanthanein.com

==> picture [157 x 95] intentionally omitted <==

ADDRESS Level 8, 99 St Georges Terrace Perth WA 6000 PHONE +61 (08) 9486 4036

14 September 2023

Outstanding Results from Roadside Drilling at Murraydium REE Project

  • Assays received from the 215 reconnaissance roadside Air Core drill holes on the Bordertown Block targeting REE’s in the shallow Loxton Parilla Sands

  • SBT199: 2m @ 1,560ppm TREO including

  • 1m @ 2,420 ppm TREO

  • Further 4 holes all greater than 1,000 ppm TREO

  • SBT048 1m @ 1,055ppm TREO

  • SBT082 1m @ 1,085ppm TREO

  • SBT100 1m @ 1,080ppm TREO

  • SBT190 1m @ 1,264ppm TREO

  • 40 holes with grades between 500 and 2,420ppm TREO

  • Loxton Parilla Sands the same formation that hosts Australian Rare Earths Ltd (ASX:AR3) Koppamurra Resource of 101mt @ 818 ppm TREO (Total Rare Earth Oxide)[(1)]

Mr Brian Thomas, Lanthanein Technical Director commented “ We are very excited to finally release the long awaited assay results from the roadside drilling programme at the Murraydium Project in the South East of South Australia. These results are the absolute confirmation of the exciting exploration opportunity in a region that is highly prospective for ionic clay hosted rare earth deposits as evidenced by work done in the region by AR3 who have outlined an extensive mineralised system at Koppamurra where shallow near surface exploration has delineated significant JORC Resources of REE’s.”

1 JORC resource comprising 1Mt @ 894ppm TREO (Measured), 63Mt @ 839ppm TREO (Indicated) and 38Mt @ 782ppm TREO (Inferred) (17 April 2023).

ADDRESS ABN Level 8, 99 St Georges Terrace 96 095 684 389 Perth WA 6000 PHONE WEBSITE +61 (08) 9486 4036 www.lanthanein.com

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Lanthanein Resources Ltd (ASX: LNR) ( Lanthanein or the Company ) is pleased to announce assay results from the roadside drilling programme at the Murraydium Project in the Southeast of South Australia (Figure 3). The drill program targeted ionic clay hosted rare earths within the Loxton-Parilla Sands unit in a region which is host to an extensive mineralised system at Koppamurra (Figure 2).

A total of 215 Air Core drill holes totalling 3,709 metres (Table 2) were completed. Results confirm the REE regional prospectivity where 40 drillholes returned greater than 500ppm TREO and five holes greater than 1000 ppm TREO (Figure 1).

Results include (Table 1):

  • SBT199: 2m @ 1,560ppm TREO including 1m @ 2,420 ppm TREO from 19m depth, with combined 23% Neodymium/Praseodymium (Nd/Pr) and 1.8% Dysprosium (Dy)

  • SBT190: 2m @ 808 ppm TREO including 1m @ 1264 ppm TREO from 14m depth, with combined 21% Nd/Pr and 2.5% Dy

  • SBT082: 1m @ 1085 ppm TREO from 23m depth, with combined 22% Nd/Pr and 2.2% Dy

  • SBT100: 1m @ 1080 ppm TREO from 15m depth, with combined 25% Nd/Pr and 2.8% Dy

  • SBT048: 1m @ 1055 ppm TREO from 19m depth with combined 14% Nd/Pr and 0.6% Dy

Proportions of Neodymium ( Nd2O3 ) from the mineralised intersection also range from 11% to 23% of TREO

The shallow nature of the rare earths (0 to 29m depth) will help with rapid exploration drilling to explore for a mineral resource where there has been support from landowners through consistent and transparent communication.

The Murraydium Project is located in the south-eastern region of South Australia with EL 6717 covering an area of 872 km[2] of the Murray Basin (Figure 3). The region is seeing continued activity in the exploration for REE minerals with the success of Australian Rare Earths (ASX:AR3) at their 100% owned Koppamurra Project, host to a total mineral resource of 101 Mt @ 818 ppm TREO (Figure 2), plus other successes with Resource Base Ltd (ASX:RBX) announcing a maiden Mineral Resource Estimate of 21Mt @ 767 ppm TREO at their Mitre Hill Deposit in the Murray Basin in Victoria.

The project area forms part of an extensive Tertiary strand plain comprising a series of sandstone‐dominant fluvial and beach‐dune strand complexes. The sand units commonly form undulating sand ridges interspersed with low lying areas of clay, mud and sand. The Koppamurra Deposit of REE‐bearing clays that contain the Yellow Tail and Red Tail deposits occurs within the lower part of the Loxton‐Parilla Sand unit (Figure 2). The Loxton‐Parilla Sand is a very extensive unit widely distributed across the southern Murray Basin. Extensive areas of Loxton‐Parilla Sand are exposed at surface within the Bordertown Block where it typically forms rolling terrain of low sandy hills and ridges.

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ADDRESS ABN Level 8, 99 St Georges Terrace 96 095 684 389 Perth WA 6000 PHONE WEBSITE +61 (08) 9486 4036 www.lanthanein.com

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Figure 1: Locations of Roadside Air Core Drill Holes with assays for Each Drill Hole

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ADDRESS ABN Level 8, 99 St Georges Terrace 96 095 684 389 Perth WA 6000 PHONE WEBSITE +61 (08) 9486 4036 www.lanthanein.com

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Figure 2: Plan showing extent of Loxton Parilla Sands in the Southeast of South Australia

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ADDRESS

Level 8, 99 St Georges Terrace Perth WA 6000 PHONE +61 (08) 9486 4036

ABN

96 095 684 389

WEBSITE www.lanthanein.com

==> picture [470 x 636] intentionally omitted <==

Figure 3: Location Plan of Murraydium Project

ABN

Level 8, 99 St Georges Terrace

96 095 684 389

Perth WA 6000 PHONE +61 (08) 9486 4036

WEBSITE www.lanthanein.com

==> picture [157 x 95] intentionally omitted <==

ADDRESS

Magnet Rare Earths
Hole
ID
Depth
From
(m)
Depth
To
(m)
Interval
(m)
TREO
(ppm)		 Praseodymium
Pr6O11
(ppm) %TREO
Neodymium
Nd2O3
(ppm) %TREO
Terbium
Tb4O7
(ppm) %TREO
Dysprosium
Dy2O3
(ppm) TREO
SBT002
16
20
17
22
1
2
355
557		 20
20
6
4
70
79
20
15
1
2
0
1
4
13
1
3
SBT003
6
7
1
542		 26
5
95
18
2
0
9
2
SBT004
4
6
2
473		 22
5
83
18
2
0
10
2
SBT006
1
21
2
22
1
1
520
379		 26
15
5
4
99
52
19
14
1
2
0
0
12
9
2
2
SBT007
1
2
1
542		 25
5
90
17
2
0
12
2
SBT009
6
7
1
440		 20
5
75
17
1
0
8
2
SBT012
2
10
3
11
1
1
462
417		 20
19
4
5
75
68
16
16
2
1
0
0
10
7
2
2
SBT017
7
8
1
376		 17
4
60
16
1
0
7
2
SBT019
2
3
1
369		 15
4
55
15
2
0
9
2
SBT020
15
16
1
484		 18
4
63
13
1
0
7
1
SBT021
1
17
2
18
1
1
567
423		 31
16
5
4
108
59
19
14
2
2
0
0
14
10
2
2
SBT022
0
2
2
417		 18
5
65
16
2
0
9
2
SBT023
6
8
2
627		 37
6
128
20
3
0
10
2
SBT024
11
12
1
461		 27
6
97
21
1
0
5
1
SBT026
0
1
1
390		 15
4
57
15
1
0
8
2
SBT027
15
18
3
622		 27
4
100
16
3
0
14
2
SBT028
Incl.
17
19
20
20
3
1
415
555		 19
26
5
5
71
98
17
18
2
3
1
1
12
16
3
3
SBT029
0
1
1
373		 20
5
73
20
2
0
10
3
SBT031
3
8
4
10
1
2
407
358		 13
16
3
4
45
57
11
16
1
1
0
0
6
8
1
2
SBT035
1
2
1
371		 18
5
67
18
2
0
9
2
SBT036
13
14
1
927		 47
5
187
20
5
1
25
3
SBT037
14
17
3
672		 31
5
122
18
4
0
18
3
SBT038
0
1
1
439		 20
5
78
18
2
0
11
3
SBT039
2
3
1
429		 22
5
82
19
2
0
11
3
SBT040
13
15
2
730		 28
4
114
15
4
1
22
3
SBT048
19
20
1
1055		 38
4
106
10
1
0
6
1
SBT053
15
16
1
436		 18
4
75
17
3
1
16
4
SBT055
1
2
1
360		 14
4
52
15
1
0
7
2
SBT066
8
9
1
385		 18
5
72
19
2
1
11
3
SBT067
9
10
1
479		 19
4
71
15
2
0
10
2
SBT070
17
18
1
702		 47
7
161
23
3
0
16
2
SBT079
18
20
2
662		 36
5
134
20
2
0
8
1

Level 8, 99 St Georges Terrace

96 095 684 389 WEBSITE www.lanthanein.com

Perth WA 6000 PHONE +61 (08) 9486 4036

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ADDRESS

ABN

Magnet Rare Earths
Hole
ID
Depth
From
(m)
Depth
To
(m)
Interval
(m)
TREO
(ppm)		 Praseodymium
Pr6O11
(ppm) %TREO
Neodymium
Nd2O3
(ppm) %TREO
Terbium
Tb4O7
(ppm) %TREO
Dysprosium
Dy2O3
(ppm) TREO
SBT082
23
24
1
1085		 48
4
190
18
5
0
24
2
SBT090
17
18
1
927		 58
6
211
23
3
0
15
2
SBT091
0
1
1
721		 41
6
162
22
3
0
12
2
SBT093
1
2
1
390		 14
4
54
14
2
0
9
2
SBT094
19
20
1
714		 26
4
109
15
4
1
22
3
SBT096
15
16
1
864		 39
5
154
18
5
1
27
3
SBT097
15
16
18
17
3
1
429
543		 19
25
5
5
79
104
18
19
2
3
0
1
11
16
3
3
SBT099
1
17
2
18
1
1
352
520		 14
19
4
4
54
81
15
16
1
3
0
1
8
18
2
3
SBT100
15
16
1
1080		 56
5
215
20
6
1
30
3
SBT101
Incl.
13
14
15
15
2
1
495
629		 22
27
4
4
85
108
17
17
2
3
0
0
12
16
3
3
SBT111
0
1
1
372		 17
4
62
17
2
0
8
2
SBT112
22
24
2
673		 31
5
117
18
3
0
17
3
SBT113
2
3
1
438		 20
5
74
17
2
0
11
2
SBT114
1
2
1
673		 28
4
104
15
3
0
16
2
SBT117
2
3
1
360		 19
5
74
20
2
0
8
2
SBT120
5
6
1
409		 16
4
64
16
2
1
11
3
SBT121
3
4
1
358		 11
3
39
11
1
0
7
2
SBT142
9
10
1
421		 16
4
62
15
2
1
14
3
SBT145
14
16
2
529		 24
5
91
17
3
1
14
3
SBT150
1
2
1
849		 41
5
152
18
3
0
18
2
SBT153
2
3
1
658		 28
4
105
16
3
0
15
2
SBT169
2
3
1
712		 33
5
125
18
3
0
15
2
SBT175
10
12
2
398		 16
4
59
15
2
0
8
2
SBT178
28
30
2
678		 33
5
263
20
4
1
17
3
SBT179
2
27
3
29
1
2
582
579		 29
28
5
4
109
111
19
17
3
3
0
1
13
14
2
2
SBT180
23
24
1
430		 11
2
41
10
1
0
8
2
SBT181
4
25
5
27
1
2
774
481		 43
17
6
4
163
68
21
15
3
2
0
1
17
12
2
3
SBT187
26
27
1
440		 18
4
81
18
2
0
8
2
SBT190
Incl.
14
14
16
15
2
1
808
1264		 34
54
4
4
139
219
17
17
4
6
1
0
19
29
3
2
SBT191
Incl.
12
13
14
14
2
1
472
513		 20
20
5
4
77
76
17
15
2
2
1
0
12
11
3
2

==> picture [157 x 95] intentionally omitted <==

ADDRESS

ABN

Level 8, 99 St Georges Terrace 96 095 684 389 Perth WA 6000 PHONE WEBSITE +61 (08) 9486 4036 www.lanthanein.com

Magnet Rare Earths
Hole
ID
Depth
From
(m)
Depth
To
(m)
Interval
(m)
TREO
(ppm)		 Praseodymium
Pr6O11
(ppm) %TREO
Neodymium
Nd2O3
(ppm) %TREO
Terbium
Tb4O7
(ppm) %TREO
Dysprosium
Dy2O3
(ppm) TREO
SBT193
15
16
1
516		 15
3
60
12
2
0
12
2
SBT194
Incl.
24
24
27
25
3
1
448
595		 21
28
5
5
80
106
18
18
2
3
1
1
11
17
3
3
SBT195
1
2
1
484		 19
4
71
15
2
0
10
2
SBT198
19
21
2
553		 29
6
116
21
3
1
15
3
SBT199
Incl.
19
20
21
21
2
1
1560
2420		 78
123
5
5
283
444
18
18
6
10
0
0
29
46
2
2
SBT200
0
1
1
379		 18
5
68
18
2
0
7
2
SBT203
26
27
1
474		 24
5
102
21
3
1
15
3
SBT203
24
26
2
443		 19
4
82
19
3
1
15
3
SBT205
19
20
1
505		 19
4
77
15
3
1
15
3
SBT213
24
25
1
639		 28
4
111
17
3
1
17
3
SBT215
19
20
1
436		 18
4
74
17
2
0
12
3

Table 1: Results from EL6717 (Bordertown Block) using sample length weighted averages at 350ppm TREO cut-off (Significant Results Highlighted)

Regolith Hosted REE Deposits - Background

There are several known types of regolith hosted REE deposits globally including, ion adsorption clay deposits, alluvial and placer deposits. The development of potentially economic regolith-hosted REE deposits requires a combination of a REE enriched protolith and weathering processes that concentrate the REE in the regolith. Ion adsorption type REE deposits are the dominant source of heavy REE currently mined in the world, with all economic examples of this type of deposit confined almost exclusively to areas underlain by granitic rocks in southern China. REE mineralisation in the Murray Basin at Australian Rare Earths (ASX:AR3) Koppamurra Project is hosted by clay material interpreted to have been deposited onto a limestone base (Gambier Limestone) and accumulated in an interdunal, lagoonal or estuarine environment. The mineralogy of the clay is indicative of formation under mildly alkaline conditions in a marine or coastal environment from fine grained sediments either river transported or windblown thereby supporting this interpretation.

Mineralogical test work conducted on a clay sample from the Koppamurra Project area established that the dominant clay minerals are smectite and kaolin, and the few REE-rich minerals detected during the SEM investigation are not considered inconsistent with the suggestion that a significant proportion of REE are distributed in the sample as adsorbed elements on clay and iron oxide surfaces. Work to date suggests that the source of the REE at Koppamurra is most likely basalt associated alkali volcanics of the Newer Volcanics Province in south-eastern Australia, with the wider Koppamurra project area being considered prospective for rare earth mineralisation.

However, whilst Koppamurra clays display ionic character, and the deposit shares a number of similarities with both ion adsorption clay deposits and volcanic ash fall placer deposits, there are also a number of differences, with further work required before a genetic model for REE

ABN 96 095 684 389 WEBSITE www.lanthanein.com

==> picture [157 x 95] intentionally omitted <==

ADDRESS Level 8, 99 St Georges Terrace Perth WA 6000 PHONE +61 (08) 9486 4036

mineralisation at Koppamurra and the broader Murray Basin can be conclusively defined. In addition, further work is required to better define metallurgical recoveries, process flow sheets, effective mining methods, and project economics.

Previous Reported pXRF Results

As reported previously on 1 May 2023 (“Encouraging XRF Results from Drilling at Murraydium Rare Earths Project”), the Company conducted XRF testing of samples collected in chip trays from the first phase of the roadside Aircore drilling. With the publishing of the certified assay results it is now evident that there was a significant over reporting of the Nd/Pr values at that time. The Company has previously had a strong correlation between XRF measurements and certified assay values in the past, particularly on hard rock occurrences in WA, but also by the Company’s exploration consultants on sediment hosted REE occurrences in SA. Discussions with other operators exploring for REE mineralisation in the ionic clay hosted environments particularly in the southeast of SA, has now cast doubts on the validity of the testing procedure using commonly available XRF instruments.

Subsequent information obtained by the Company suggest that a XRF instrument with a higher energy 55kV x-ray tube is required to accurately measure levels of Lanthanides in ionic clay hosted environments. The Company is currently investigating the issue of the over reporting of Nd/Pr levels taken with the standard 50kV x-ray tube instrument by cross checking samples with instruments with both energy ratings.

This announcement has been authorised for release by the Directors of the Company.

For additional information please visit our website at www.lanthanein.com

LANTHANEIN RESOURCES LTD

Competent Person’s Statement

The information in this report that relates to Geophysical Exploration Results is based on information compiled by Peter Swiridiuk - Member of the Aust. Inst. of Geoscientists. Peter Swiridiuk is a Technical Consultant and Non-Executive Director for Lanthanein Resources. Peter Swiridiuk has sufficient experience which is relevant to the type of mineralisation and type of deposit under consideration to qualify as Competent Person as defined in the 2012 Edition of the Australasian Code of Reporting Exploration Results, Mineral Resources and Ore Resources. Peter Swiridiuk consents to the inclusion in the report of the matters based on the information in the form and context in which it appears. Additionally, Mr Swiridiuk confirms that the entity is not aware of any new information or data that materially affects the information contained in the ASX releases referred to in this report.

ABN

Level 8, 99 St Georges Terrace Perth WA 6000 PHONE +61 (08) 9486 4036

96 095 684 389

WEBSITE www.lanthanein.com

==> picture [157 x 95] intentionally omitted <==

ADDRESS

Table 2: Drill Hole Collars

Hole ID Easting (m) Northing (m) Total Depth
EOH(m)		 Azimuth
(Deg)		 Dip
(Deg)		 RL (m)
SBT001 493364.0 5958980.3 25 0 -90 106.0
SBT002 493401.8 5959173.3 24 0 -90 106.0
SBT003 493846.4 5961248.5 30 0 -90 106.0
SBT004 494001.9 5961717.1 27 0 -90 106.0
SBT005 494033.3 5961995.5 27 0 -90 106.0
SBT006 493579.2 5964978.0 24 0 -90 104.0
SBT007 493372.5 5965534.8 24 0 -90 104.0
SBT008 493197.1 5966004.1 24 0 -90 104.0
SBT009 493056.1 5966379.5 21 0 -90 104.0
SBT010 492956.8 5966665.3 21 0 -90 104.0
SBT011 492842.9 5966944.1 14 0 -90 104.0
SBT012 492669.5 5967411.5 18 0 -90 104.0
SBT013 496757.5 5967723.3 24 0 -90 104.0
SBT014 496456.7 5967724.5 18 0 -90 104.0
SBT015 496214.9 5967708.3 18 0 -90 104.0
SBT016 495957.6 5967718.4 15 0 -90 104.0
SBT017 494661.6 5967945.9 17 0 -90 104.0
SBT018 494656.7 5967694.3 18 0 -90 104.0
SBT019 494488.6 5967691.9 18 0 -90 104.0
SBT020 493589.7 5967687.2 18 0 -90 104.0
SBT021 493189.3 5967678.6 18 0 -90 104.0
SBT022 492889.4 5967675.5 18 0 -90 104.0
SBT023 492434.6 5967688.4 15 0 -90 104.0
SBT024 492028.0 5967684.6 18 0 -90 104.0
SBT025 491435.5 5967678.0 30 0 -90 104.0
SBT026 491342.8 5967367.8 27 0 -90 104.0
SBT027 491342.7 5966967.9 30 0 -90 104.0
SBT028 491343.9 5966470.2 30 0 -90 104.0
SBT029 479300.1 5970350.9 16 0 -90 110.0
SBT030 479592.5 5970357.2 15 0 -90 110.0
SBT031 480100.5 5970364.2 15 0 -90 110.0
SBT032 480483.3 5970359.4 14 0 -90 110.0
SBT033 480998.6 5970366.4 14 0 -90 110.0
SBT034 481796.4 5970378.6 15 0 -90 110.0
SBT035 483099.3 5970870.6 16 0 -90 110.0
SBT036 482936.3 5971122.7 18 0 -90 110.0
SBT037 482798.3 5971323.1 17 0 -90 110.0
SBT038 482607.9 5971607.0 16 0 -90 110.0
SBT039 482474.5 5971826.5 18 0 -90 110.0
SBT040 482333.5 5972203.0 16 0 -90 100.0
SBT041 479495.6 5972787.3 15 0 -90 100.0
SBT042 480296.6 5972804.7 11 0 -90 100.0

Level 8, 99 St Georges Terrace

==> picture [157 x 95] intentionally omitted <==

ADDRESS

Perth WA 6000 PHONE +61 (08) 9486 4036

ABN

96 095 684 389

WEBSITE www.lanthanein.com

Hole ID Easting (m) Northing (m) Total Depth
EOH(m)		 Azimuth
(Deg)		 Dip
(Deg)		 RL (m)
SBT043 479897.1 5972789.7 14 0 -90 100.0
SBT044 480693.8 5972800.4 12 0 -90 100.0
SBT045 481295.4 5972802.5 14 0 -90 100.0
SBT046 482598.8 5973192.7 19 0 -90 100.0
SBT047 483299.2 5973289.5 16 0 -90 100.0
SBT048 483663.9 5973248.2 20 0 -90 100.0
SBT049 487009.8 5972631.4 26 0 -90 100.0
SBT050 487386.8 5972724.1 22 0 -90 100.0
SBT051 487674.0 5972813.5 18 0 -90 100.0
SBT052 488893.4 5972755.2 15 0 -90 100.0
SBT053 491071.7 5972077.4 18 0 -90 100.0
SBT054 490839.5 5972066.4 18 0 -90 100.0
SBT055 490453.3 5972063.2 18 0 -90 100.0
SBT056 490068.3 5972060.0 18 0 -90 100.0
SBT057 489573.1 5972057.3 18 0 -90 100.0
SBT058 490404.3 5970541.8 15 0 -90 100.0
SBT059 489268.7 5970189.3 18 0 -90 100.0
SBT060 489330.2 5970483.5 18 0 -90 100.0
SBT061 489391.7 5970773.2 18 0 -90 99.0
SBT062 489454.5 5971067.4 18 0 -90 99.0
SBT063 489523.2 5971362.3 17 0 -90 99.0
SBT064 489478.6 5971903.4 13 0 -90 99.0
SBT065 490585.9 5970306.1 17 0 -90 99.0
SBT066 489518.2 5971359.7 15 0 -90 99.0
SBT067 491304.3 5969391.7 15 0 -90 99.0
SBT068 484428.2 5970405.0 16 0 -90 99.0
SBT069 491729.7 5968968.9 14 0 -90 99.0
SBT070 492018.1 5968693.7 18 0 -90 99.0
SBT071 491602.2 5969885.1 18 0 -90 99.0
SBT072 491900.1 5969892.8 18 0 -90 99.0
SBT073 486326.7 5975388.8 24 0 -90 99.0
SBT074 486655.2 5975025.6 24 0 -90 99.0
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SBT076 487110.0 5974338.6 18 0 -90 99.0
SBT077 487317.1 5974011.2 21 0 -90 99.0
SBT078 487531.6 5973679.3 15 0 -90 99.0
SBT079 487731.6 5973461.4 23 0 -90 99.0
SBT080 483756.2 5973531.9 22 0 -90 99.0
SBT081 483748.5 5973945.6 24 0 -90 99.0
SBT082 483744.5 5974546.2 24 0 -90 99.0
SBT083 483742.2 5975045.6 24 0 -90 99.0
SBT084 483729.2 5976040.3 21 0 -90 101.6
SBT085 483726.2 5976455.0 21 0 -90 100.3

Level 8, 99 St Georges Terrace

96 095 684 389

Perth WA 6000 PHONE +61 (08) 9486 4036

==> picture [157 x 95] intentionally omitted <==

ADDRESS

ABN

WEBSITE www.lanthanein.com

Hole ID Easting (m) Northing (m) Total Depth
EOH(m)		 Azimuth
(Deg)		 Dip
(Deg)		 RL (m)
SBT086 483717.4 5977245.5 24 0 -90 100.3
SBT087 483498.5 5976239.2 24 0 -90 100.3
SBT088 482909.7 5976237.9 20 0 -90 97.6
SBT089 483720.2 5976854.6 18 0 -90 97.0
SBT090 482603.3 5976235.0 18 0 -90 97.7
SBT091 482302.0 5976230.8 18 0 -90 97.0
SBT092 481300.5 5976224.3 18 0 -90 97.3
SBT093 480803.0 5976215.6 18 0 -90 85.0
SBT094 480401.3 5976214.1 20 0 -90 85.0
SBT095 479900.7 5976205.4 18 0 -90 85.0
SBT096 479898.7 5976595.6 18 0 -90 85.0
SBT097 480278.9 5975974.4 18 0 -90 85.0
SBT098 481059.3 5975027.8 21 0 -90 85.0
SBT099 481249.1 5974703.1 19 0 -90 85.0
SBT100 481353.1 5974305.0 18 0 -90 85.0
SBT101 481426.3 5973960.1 18 0 -90 85.0
SBT102 479397.2 5973320.1 12 0 -90 85.0
SBT103 479668.5 5973618.2 12 0 -90 85.0
SBT104 480289.0 5974252.2 10 0 -90 85.0
SBT105 480496.3 5974595.7 18 0 -90 85.0
SBT106 480706.2 5974926.8 18 0 -90 89.9
SBT107 479869.1 5973842.6 12 0 -90 78.1
SBT108 481292.1 5970371.7 15 0 -90 85.2
SBT109 483827.7 5970401.2 20 0 -90 94.0
SBT110 484148.3 5970403.5 20 0 -90 99.6
SBT111 484424.3 5970405.4 18 0 -90 98.6
SBT112 485120.3 5970408.9 24 0 -90 104.7
SBT113 485565.3 5970424.7 18 0 -90 103.2
SBT114 485924.5 5970415.5 11 0 -90 101.9
SBT115 486319.8 5970418.6 12 0 -90 106.2
SBT116 486615.0 5970425.4 12 0 -90 106.0
SBT117 486929.2 5970426.0 9 0 -90 106.6
SBT118 487124.5 5970424.6 9 0 -90 103.5
SBT119 487268.4 5970312.7 9 0 -90 100.0
SBT120 487040.2 5970066.1 9 0 -90 100.0
SBT121 487423.4 5970503.5 9 0 -90 100.0
SBT122 487618.9 5970730.8 9 0 -90 100.0
SBT123 487762.8 5970918.6 6 0 -90 100.0
SBT124 487782.6 5970694.7 12 0 -90 100.0
SBT125 487788.0 5970389.1 7 0 -90 100.0
SBT126 487792.6 5970089.3 9 0 -90 100.0
SBT127 494051.2 5971552.1 6 0 -90 114.0
SBT128 494054.2 5971746.5 18 0 -90 114.0

Level 8, 99 St Georges Terrace

96 095 684 389

Perth WA 6000 PHONE +61 (08) 9486 4036

==> picture [157 x 95] intentionally omitted <==

ADDRESS

ABN

WEBSITE www.lanthanein.com

Hole ID Easting (m) Northing (m) Total Depth
EOH(m)		 Azimuth
(Deg)		 Dip
(Deg)		 RL (m)
SBT129 492188.9 5971745.0 10 0 -90 111.0
SBT130 492181.2 5971546.5 9 0 -90 111.0
SBT131 492187.6 5971244.3 9 0 -90 111.0
SBT132 492190.7 5970845.6 9 0 -90 111.0
SBT133 492197.6 5970445.5 9 0 -90 111.0
SBT134 492200.3 5970045.7 9 0 -90 111.0
SBT135 492202.4 5969789.6 14 0 -90 111.0
SBT136 492207.9 5969289.8 9 0 -90 111.0
SBT137 492213.3 5968790.1 9 0 -90 111.0
SBT138 486600.4 5972675.3 9 0 -90 100.0
SBT139 486206.0 5972708.6 12 0 -90 100.0
SBT140 488616.4 5973694.5 9 0 -90 100.0
SBT141 488614.1 5974193.9 9 0 -90 100.0
SBT142 488610.9 5974593.7 12 0 -90 100.0
SBT143 488599.6 5974992.0 9 0 -90 100.0
SBT144 488391.6 5975333.5 9 0 -90 100.0
SBT145 485035.2 5976259.0 21 0 -90 100.0
SBT146 484735.3 5976255.9 12 0 -90 101.0
SBT147 484335.5 5976251.7 12 0 -90 101.0
SBT148 484035.4 5976247.8 6 0 -90 101.0
SBT149 484725.9 5970406.3 12 0 -90 101.0
SBT150 479544.7 5977423.9 12 0 -90 101.0
SBT151 479384.2 5977790.1 12 0 -90 101.0
SBT152 479576.3 5978394.0 6 0 -90 101.0
SBT153 480176.0 5978399.8 9 0 -90 101.0
SBT154 480500.7 5978410.2 9 0 -90 101.0
SBT155 480859.8 5978402.5 9 0 -90 101.0
SBT156 481289.5 5978417.3 9 0 -90 101.0
SBT157 481675.3 5978416.0 15 0 -90 101.0
SBT158 482075.1 5978420.5 9 0 -90 101.0
SBT159 482475.0 5978423.7 12 0 -90 101.0
SBT160 482774.8 5978426.1 6 0 -90 101.0
SBT161 483715.5 5978787.6 9 0 -90 101.0
SBT162 483712.6 5979187.4 7 0 -90 101.0
SBT163 483700.8 5979586.5 9 0 -90 101.0
SBT164 483705.4 5979985.4 6 0 -90 101.0
SBT165 483703.6 5980386.9 7 0 -90 101.0
SBT166 483688.0 5980978.4 9 0 -90 101.0
SBT167 483690.5 5981378.0 9 0 -90 101.0
SBT168 483773.8 5981858.5 6 0 -90 101.0
SBT169 483774.7 5982364.5 12 0 -90 101.0
SBT170 483772.1 5982883.9 9 0 -90 101.0
SBT171 483769.7 5983283.7 6 0 -90 101.0

Level 8, 99 St Georges Terrace

Perth WA 6000 PHONE +61 (08) 9486 4036

==> picture [157 x 95] intentionally omitted <==

ADDRESS

ABN

96 095 684 389

WEBSITE www.lanthanein.com

Hole ID Easting (m) Northing (m) Total Depth
EOH(m)		 Azimuth
(Deg)		 Dip
(Deg)		 RL (m)
SBT172 483767.3 5983683.5 6 0 -90 101.0
SBT173 483765.5 5983983.4 9 0 -90 101.0
SBT174 483972.4 5982666.2 6 0 -90 101.0
SBT175 483480.4 5982743.9 14 0 -90 101.0
SBT176 482208.0 5983058.0 18 0 -90 91.7
SBT177 482343.0 5983542.0 12 0 -90 96.2
SBT178 477498.0 5997008.0 30 0 -90 108.6
SBT179 477065.0 5997284.0 30 0 -90 105.4
SBT180 472476.0 6007926.0 25 0 -90 100.2
SBT181 472860.0 6007891.0 30 0 -90 96.6
SBT182 471354.0 6008024.0 30 0 -90 97.6
SBT183 470376.0 6007930.0 27 0 -90 92.1
SBT184 469890.0 6007842.0 30 0 -90 93.9
SBT185 469099.0 6007701.0 30 0 -90 94.3
SBT186 468498.0 6007650.0 30 0 -90 91.2
SBT187 467514.0 6007610.0 27 0 -90 90.0
SBT188 467641.0 6003575.0 25 0 -90 87.1
SBT189 468025.0 6003701.0 26 0 -90 86.8
SBT190 471196.0 6001106.0 18 0 -90 80.6
SBT191 470727.0 6001060.0 17 0 -90 83.9
SBT192 470330.0 6001000.0 15 0 -90 86.0
SBT193 469773.0 6000790.0 18 0 -90 83.0
SBT194 469466.0 6000402.0 28 0 -90 89.3
SBT195 469000.0 6000240.0 30 0 -90 90.8
SBT196 468466.0 6000233.0 30 0 -90 84.6
SBT197 467884.0 6000252.0 24 0 -90 79.3
SBT198 471976.0 6001106.0 21 0 -90 89.2
SBT199 472674.0 6001066.0 21 0 -90 86.5
SBT200 474849.0 5993198.0 24 0 -90 93.8
SBT201 475337.0 5993131.0 30 0 -90 94.7
SBT202 477324.0 5993110.0 30 0 -90 107.6
SBT203 481888.0 5987829.0 28 0 -90 100.6
SBT204 481880.0 5987539.0 27 0 -90 97.9
SBT205 481847.0 5986099.0 20 0 -90 100.0
SBT206 485079.0 5988131.0 30 0 -90 108.7
SBT207 483975.0 5986869.0 27 0 -90 105.6
SBT208 483692.0 5986503.0 5 0 -90 110.5
SBT209 483187.0 5986012.0 28 0 -90 106.1
SBT210 481710.0 5985700.0 19 0 -90 98.2
SBT211 481531.0 5985300.0 19 0 -90 96.0
SBT212 480910.0 5984910.0 21 0 -90 96.4
SBT213 480431.0 5984938.0 30 0 -90 94.4
SBT214 480574.0 5984727.0 28 0 -90 98.9

==> picture [157 x 95] intentionally omitted <==

ADDRESS

Level 8, 99 St Georges Terrace Perth WA 6000 PHONE +61 (08) 9486 4036

ABN

96 095 684 389

WEBSITE

www.lanthanein.com

Hole ID Easting (m) Northing (m) Total Depth
EOH(m)		 Azimuth
(Deg)		 Dip
(Deg)		 RL (m)
SBT215 480050.0 5983500.0 22 0 -90 91.7

ABN 96 095 684 389

WEBSITE www.lanthanein.com

==> picture [157 x 95] intentionally omitted <==

ADDRESS

Level 8, 99 St Georges Terrace Perth WA 6000 PHONE +61 (08) 9486 4036

JORC Code, 2012 Edition – Table 1 report template

Section 1 Sampling Techniques and Data

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

Criteria JORC Code explanation Commentary
Sampling
techniques		 •
Nature and quality of sampling (eg 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.
•
Include reference to measures taken to
ensure sample representivity and the
appropriate calibration of any
measurement tools or systems used.
•
Aspects of the determination of
mineralisation that are Material to the
Public Report.
•
In cases where ‘industry standard’ work
has been done this would be relatively
simple (eg ‘reverse circulation drilling
was used to obtain 1 m samples from
which 3 kg was pulverised to produce
a 30 g charge for fire assay’). In other
cases more explanation may be
required, such as where there is coarse
gold that has inherent sampling
problems. Unusual commodities or
mineralisation types (eg submarine
nodules) may warrant disclosure of
detailed information.		 •
The RC Aircore drilling program was undertaken
by McLeod Drilling using industry standard air core
drilling methods. To date, a total of 215 AC drill
holes for 3,709m have been drilled at the
Murraydium Project
•
Drill spoil from each 1m from drill rig was collected
in buckets in rows adjacent to the rig. An
aluminium scoop was used to then sub-sample
each spoil pile to create a 2-3kg 1m sample in a
calico bag. A further smaller sample was
collected with a spoon and placed in chip
sample tray.
•
All samples are submitted to Bureau Veritas
Laboratories in Adelaide.
•
At the laboratory, the samples are oven dried at
105 degrees for a minimum of 24 hours and
secondary crushed to 10mm. The samples are
submitted for analysis using ICP Scan (Mixed Acid
Digest – Lithium Borate Fusion).
•
Commercially obtained standards are inserted by
the laboratory at a rate of ~ 1 in 15 into the
sample.
Drilling
techniques		 •
Drill type (eg core, reverse circulation,
open-hole hammer, rotary air blast,
auger, Bangka, sonic, etc) and details
(eg core diameter, triple or standard
tube, depth of diamond tails, face-
sampling bit or other type, whether
core is oriented and if so, by what
method, etc).		 •
LNR has completed air-core drilling, an industry
standard technique.
•
McLeod Drilling used a Toyota Land air core rig
and support vehicle for the Aircore drilling.
•
All drill holes were 3 inches in diameter.
•
Aircore drill rods used were 3m long.
•
AC drilling employed rotary blade type bit, with
compressed air returning the chip samples
through a reverse circulation up the innertube to
a cyclone for sampling.
•
All Aircore drillholes were vertical with depths
varyingbetween 6m and 30m depths.
Drill sample
recovery		 •
Method of recording and assessing
core and chip sample recoveries and
results assessed.
•
Measures taken to maximise sample
recovery and ensure representative
nature of the samples.
•
Whether a relationship exists between		 •
No water was encountered during the drilling
process, all drill samples were dry samples.
•
Sample recovery is expected to have minimal
negative impact on the sample representativity.
No significant loses of samples were observed due
to the shallow drilling depths (≤30m)

ADDRESS ABN Level 8, 99 St Georges Terrace 96 095 684 389 Perth WA 6000 PHONE WEBSITE +61 (08) 9486 4036 www.lanthanein.com

==> picture [157 x 95] intentionally omitted <==

Criteria JORC Code explanation Commentary
sample recovery and grade and
whether sample bias may have
occurred due to preferential loss/gain
of fine/coarse material.		 •
Samples weights were not measured or weighed
due to the preliminary nature of the project at the
time of drilling.
•
Drilling was undertaken using a ‘best practise’
approach to achieve maximum sample recovery
and quality through the mineralised zones.
•
Drill spoil from each 1m from drill rig was collected
in buckets in rows adjacent to the rig. An
aluminium scoop was used to then sub-sample
each spoil pile to create a 2-3kg 1m sample in a
calico bag. A further smaller sample was
collected with a spoon and placed in chip
sample tray.
•
Best practise sampling procedure included:
suitable usage of dust suppression, suitable
shroud, lifting off bottom between each metre,
cleaning of sampling equipment, ensuring a dry
sample and suitable supervision by the supervising
geologist to ensure good sample quality.
•
At this stage, no known bias occurs between
sample recovery and grade.
Logging •
Whether core and chip samples have
been geologically and geotechnically
logged to a level of detail to support
appropriate Mineral Resource
estimation, mining studies and
metallurgical studies.
•
Whether logging is qualitative or
quantitative in nature. Core (or
costean, channel, etc) photography.
•
The total length and percentage of the
relevant intersections logged.		 • AC chips were logged by a qualified geologist
with sufficient experience in the geological
terrane and relevant styles of mineralisation using
an industry standard logging system which could
eventually be utilised within a Mineral Resource
Estimation.
• Lithology,
mineralisation,
alteration,
veining,
weathering and structure were all recorded
digitally.
• Chips for each metre were stored in chip trays for
preservation and future reference.
• Logging is qualitative, quantitative or semi-
quantitative in nature. Every drill hole was logged
in full and logging was undertaken with reference
to a drilling template with codes prescribed and
guidance to ensure consistent and systematic
data collection.
Sub-
sampling
techniques
and sample
preparation		 •
If core, whether cut or sawn and
whether quarter, half or all core taken.
•
If non-core, whether riffled, tube
sampled, rotary split, etc and whether
sampled wet or dry.
•
For all sample types, the nature, quality
and appropriateness of the sample		 • Single metre samples were collected from the drill
spoil using a ‘scoop’.
• Scoop sampling was carried out by contract field
assistant. The scoop samples were collected by
taking a cross section of the drill spoil, to ensure a
representative sample of the full 1m sample was
collected.

ABN 96 095 684 389 WEBSITE www.lanthanein.com

Level 8, 99 St Georges Terrace Perth WA 6000 PHONE +61 (08) 9486 4036

==> picture [157 x 95] intentionally omitted <==

ADDRESS

Criteria JORC Code explanation Commentary
preparation technique.
•
Quality control procedures adopted for
all sub-sampling stages to maximise
representivity of samples.
•
Measures taken to ensure that the
sampling is representative of the in situ
material collected, including for
instance results for field
duplicate/second-half sampling.
•
Whether sample sizes are appropriate
to the grain size of the material being
sampled.		 •
The Competent Person considers scoop sampling
acceptable method for representative sample
given the low natural inherent variability of the
mineralisation.
•
Sample preparation is to be carried out by Bureau
Veritas Laboratories.
•
Drill spoil from each 1m from drill rig was collected
in buckets in rows adjacent to the rig. An
aluminium scoop was used to then sub-sample
each spoil pile to create a 2-3kg 1m sample in a
calico bag. A further smaller sample was
collected with a spoon and placed in chip
sample tray.
Quality of
assay data
and
laboratory
tests		 •
The nature, quality and
appropriateness of the assaying and
laboratory procedures used and
whether the technique is considered
partial or total.
•
For geophysical tools, spectrometers,
handheld XRF instruments, etc, the
parameters used in determining the
analysis including instrument make and
model, reading times, calibrations
factors applied and their derivation,
etc.
•
Nature of quality control procedures
adopted (eg standards, blanks,
duplicates, external laboratory checks)
and whether acceptable levels of
accuracy (ie lack of bias) and precision
have been established.		 Laboratory Analysis
•
ICP Scan (Mixed Acid Digest – Lithium Borate
Fusion)
is
considered
appropriate
for
REE
determination.
•
Samples are digested using a mixed acid digest
and also fused with Lithium Borate to ensure all
elements are brought into solution. The digests are
then analysed for the following elements in ppm
or in % when shown (detection limits shown in
ppm):
Ag(0.2), Al%(0.005), As(1), Ba(20), Be(0.5), Bi(0.1),
Ca%(0.01), Cd(0.5), Co(1), Cr(20), Cs(0.1), Cu(2),
Fe%(0.01), Ga(0.2), Hf(0.2), Ln(0.05), K%(0.01), Li(10),
Mg%(0.005),
Mo(0.5),
Na%(0.01),
Nb(0.5),
Ni(2),
P%(0.005), Pb(1), Rb(0.2), Re(0.1), S(50), Sb(0.1), Sc(1),
Se(5), Si%(0.005), Sn(0.1), Sr(0.5), Ta(0.1), Te(0.2),
Yh(0.1), Ti%(0.005), Tl(0.1), U(0.1), V(5), W(0.5), Y(1),
Zn(2), Zr(10), La(0.1), Ce(0.1), Pr(0.05), Nd(0.05),
Sm(0.05),
Eu(0.05),
Gd(0.2),
Tb(0.02),
Dy(0.05),
Ho(0.02), Er(0.05), Tm(0.05), Yb(0.05), Lu(0.02).
•
Bureau Veritas completed its own internal
QA/QC checks that included a Laboratory
repeat roughly every 22 samples and a standard
reference sample roughly every 6 samples and
a blank roughly every 40 samples prior to the
results being released.
•
Analysis of QA/QC samples show laboratory
data to be of acceptable accuracy and
precision.
•
No
standards
or
blanks
were
submitted
Lanthanein Resources.
•
Assays are covered under the NATA scope of
accreditation. Documents procedures are in
accordance
with
ISO
9001
Quality
Management Systems.
Verification
of sampling		 •
The verification of significant
intersections by either independent or		 •
Logging and sampling were recorded directly into
a logging system, verified and eventually stored in

ABN

WEBSITE www.lanthanein.com

==> picture [157 x 95] intentionally omitted <==

ADDRESS

Level 8, 99 St Georges Terrace Perth WA 6000 PHONE +61 (08) 9486 4036

96 095 684 389

Criteria JORC Code explanation Commentary Commentary Commentary Commentary Commentary Commentary
and
assaying		 alternative company personnel.
•
The use of twinned holes.
•
Documentation of primary data, data
entry procedures, data verification,
data storage (physical and electronic)
protocols.
•
Discuss any adjustment to assay data.		 an offsite database.
•
Assay data was received in digital format from the
laboratory and was uploaded directly into the
database.
•
Significant intersections are inspected by senior
consultant personnel and company’s Director.
•
No twinned holes have been drilled at this time.
•
Assay data yielding elemental concentrations for
rare earths (REE) within the sample are converted
to
their
stoichiometric
oxides
(REO)
in
a
calculation performed within the database using
the conversion factors in the table below,
Note: Y2O3is included in the TREO calculation.
TREO = La2O3+ CeO2+ Pr6O11+ Nd2O3+ Sm2O3+ Eu2O3
+ Gd2O3+ Tb4O7+ Dy2O3+ Ho2O3+ Er2O3+ Tm2O3+
Yb2O3+ Lu2O3+ Y2O3.
Element Name
Element Oxide
Oxide Factor
Ce
CeO2
1.2284
Dy
Dy2O3
1.1435
Er
Er2O3
1.1435
Eu
Eu2O3
1.1579
Gd
Gd2O3
1.1526
Ho
Ho2O3
1.1455
La
La2O3
1.1728
Lu
Lu2O3
1.1371
Nd
Nd2O3
1.1664
Pr
Pr6O11
1.2082
Sm
Sm2O3
1.1596
Tb
Tb4O7
1.1762
Tm
Tm2O3
1.1421
Y
Y2O3
1.2699
Yb
Yb2O3
1.1387
Element Name Element Oxide Oxide Factor
Ce CeO2 1.2284
Dy Dy2O3 1.1435
Er Er2O3 1.1435
Eu Eu2O3 1.1579
Gd Gd2O3 1.1526
Ho Ho2O3 1.1455
La La2O3 1.1728
Lu Lu2O3 1.1371
Nd Nd2O3 1.1664
Pr Pr6O11 1.2082
Sm Sm2O3 1.1596
Tb Tb4O7 1.1762
Tm Tm2O3 1.1421
Y Y2O3 1.2699
Yb Yb2O3 1.1387
Location of
data points		 •
Accuracy and quality of surveys used
to locate drill holes (collar and down-
hole surveys), trenches, mine workings
and other locations used in Mineral
Resource estimation.
•
Specification of the grid system used.
•
Quality and adequacy of topographic
control.		 • Collar position was recorded using a Garmin
handheld GPS which has an accuracy of +/- 5m.
• GDA2020 _MGA_Zone_54 is the grid format for all xyz
data reported.
• No downhole surveys have been completed – all
holes are vertical and shallow.
Data •
Data spacing for reporting of		 • The drillhole spacing for the program is suitable as a

==> picture [157 x 95] intentionally omitted <==

ADDRESS

ADDRESS ABN Level 8, 99 St Georges Terrace 96 095 684 389 Perth WA 6000 PHONE WEBSITE +61 (08) 9486 4036 www.lanthanein.com

Criteria JORC Code explanation Commentary
spacing
and
distribution		 Exploration Results.
•
Whether the data spacing and
distribution is sufficient to establish the
degree of geological and grade
continuity appropriate for the Mineral
Resource and Ore Reserve estimation
procedure(s) and classifications
applied.
•
Whether sample compositing has been
applied.		 ‘first pass’ for establishing a general trend of grade
continuity for REE within the tenement.
• See drill table for hole positions.
• Data spacing at this stage is not suitable for Mineral
Resource Estimation.
Orientation
of data in
relation to
geological
structure		 •
Whether the orientation of sampling
achieves unbiased sampling of possible
structures and the extent to which this is
known, considering the deposit type.
•
If the relationship between the drilling
orientation and the orientation of key
mineralised structures is considered to
have introduced a sampling bias, this
should be assessed and reported if
material.		 •
Vertical drilling generally achieved a very high
angle of intercept with the flat lying, stratabound
mineralisation.
•
No sample bias is known at this time.
Sample
security		 •
The measures taken to ensure sample
security.		 •
All
geochemical
samples
were
collected,
bagged and sealed by a competent geological
contractor. Bags were labelled with the drill hole
and sample numbers and delivered to Bureau
Veritas Laboratories in Adelaide.
Audits or
reviews		 •
The results of any audits or reviews of
sampling techniques and data.		 •
The program is continuously reviewed by senior
company personnel.

Section 2 Reporting of Exploration Results

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

Criteria JORC Code explanation Commentary
Mineral
tenement
and land
tenure status		 •
Type, reference name/number,
location and ownership including
agreements or material issues with third
parties such as joint ventures,
partnerships, overriding royalties,
native title interests, historical sites,
wilderness or national park and
environmental settings.
•
The security of the tenure held at the
time of reporting along with any
known impediments to obtaining a
licence to operate in the area.		 Lanthanein Resources Ltd entered into a conditional
agreement to acquire all of the shares in Southern
Rare Earths Pty Ltd (SRE) which holds the granted
exploration licences in the Southeast of South
Australia. The acquisition was completed on 16
September 2021.
• The Murraydium Project consists of 1 granted
Exploration Licence EL6717.
• All tenements are 100% owned by Southern Rare
Earths.
Exploration
done by
other parties		 •
Acknowledgment and appraisal of
exploration by other parties.		 • There has been limited drilling for mineral sands by
Iluka Resources along existing roads and tracks in
2002 and Australian Desalinated Water Pty Ltd in
2013.

ADDRESS Level 8, 99 St Georges Terrace Perth WA 6000 PHONE +61 (08) 9486 4036

ABN

==> picture [157 x 95] intentionally omitted <==

96 095 684 389 WEBSITE www.lanthanein.com

Criteria JORC Code explanation Commentary
Geology •
Deposit type, geological setting and
style of mineralisation.		 • The project area forms part of an extensive Tertiary
strand plain comprising a series of sandstone‐
dominant
fluvial
and
beach‐dune
strand
complexes.
The
sand
units
commonly
form
undulating sand ridges interspersed with low lying
areas of clay, mud and sand.
• The neighboring Koppamurra Deposit of REE‐
bearing clays that contain the Yellow Tail and Red
Tail deposits occurs within the lower part of the
Loxton‐Parilla Sand unit. The Loxton‐Parilla Sand is a
very extensive unit widely distributed across the
southern Murray Basin. Extensive areas of Loxton‐
Parilla Sand are exposed at surface within the
BordertownBlock where it typically forms rolling
terrain of low sandy hills and ridges
Drill hole
Information		 •
A summary of all information material
to the understanding of the
exploration results including a
tabulation of the following information
for all Material drill holes:
o easting and northing of the drill
hole collar
o elevation or RL (Reduced Level –
elevation above sea level in
metres) of the drill hole collar
o dip and azimuth of the hole
o down hole length and interception
depth
o hole length.
•
If the exclusion of this information is
justified on the basis that the
information is not Material and this
exclusion does not detract from the
understanding of the report, the
Competent Person should clearly
explain why this is the case.		 • An overview of the drilling program is given within
the text within this document.
Data
aggregation
methods		 •
In reporting Exploration Results,
weighting averaging techniques,
maximum and/or minimum grade
truncations (eg cutting of high grades)
and cut-off grades are usually Material
and should be stated.
•
Where aggregate intercepts
incorporate short lengths of high grade
results and longer lengths of low grade
results, the procedure used for such
aggregation should be stated and
some typical examples of such
aggregations should be shown in
detail.
•
The assumptions used for any reporting
of metal equivalent values should be
clearly stated.		 • No metal equivalents have been used.
• Significant
intercepts
are
calculated
using
downhole sample length weighted averages and a
lower cut-off grade of 350 ppm TREO.
• A full list of drillholes with significant intercepts >
350ppm TREO is included in the body of this report.

ABN

==> picture [157 x 95] intentionally omitted <==

ADDRESS Perth WA 6000 PHONE +61 (08) 9486 4036

Level 8, 99 St Georges Terrace

96 095 684 389 WEBSITE www.lanthanein.com

Criteria JORC Code explanation Commentary
Relationship
between
mineralisatio
n widths and
intercept
lengths		 •
These relationships are particularly
important in the reporting of
Exploration Results.
•
If the geometry of the mineralisation
with respect to the drill hole angle is
known, its nature should be reported.
•
If it is not known and only the down
hole lengths are reported, there should
be a clear statement to this effect (eg
‘down hole length, true width not
_known’). _		 •
Drillhole angle relative to mineralisation has been
almost perpendicular, with vertical drillholes
through the flat horizontal mineralisation related to
the regolith. Generally, the stratabound intercepts
are close to 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.		 • Refer to figures within this report.
Balanced
reporting		 •
Where comprehensive reporting of all
Exploration Results is not practicable,
representative reporting of both low
and high grades and/or widths should
be practiced to avoid misleading
reporting of Exploration Results.		 • The accompanying document is a balanced
report containing drilling results that are consistent
with the JORC guidelines. Where data may have
been excluded, it is not considered material.
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.		 • All material results are reported in this release.
Further work •
The nature and scale of planned
further work (eg tests for lateral
extensions or depth extensions or
large-scale step-out drilling).
•
Diagrams clearly highlighting the areas
of possible extensions, including the
main geological interpretations and
future drilling areas, provided this
information is not commercially
sensitive.		 Additional AC drilling
Metallurgical test work

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