GREAT BOULDER RESOURCES LIMITED — Capital/Financing Update 2018

Oct 11, 2018

New assays show Great Boulder closing in on higher-grade nickel at Eastern Mafic

Latest results highlight the neck and feeder zones of the intrusion as being most prospective for nickel sulphide mineralisation

Highlights

• Latest assays from drilling at the Eastern Mafic deposit contain wider, higher-grade nickel and cobalt than seen in previous results

• These latest assays come from the feeder zone and ‘neck’ of the intrusion at the Zermatt prospect where mineralisation has now been extended to 400m of strike; Significant new results include:

• 33m at 0.3% Ni, 0.2% Cu, 0.04% Co

• 5m at 0.4% Ni, 0.3% Cu, 0.03% Co

• 7m at 0.3% Ni, 0.2% Cu, 0.05% Co

• New zone of sulphide mineralisation intersected at the Cortina prospect, 500m west of Zermatt in hole 18EMRC021 (assays pending)

• Copper-nickel mineralisation intersected at the southern extension of the feeder zone at the Ben Lomond prospect (18EMDD002)

• Two wide zones of sulphide mineralisation intersected within the feeder structure at anomaly ML13, between Zermatt and Ben Lomond (18EMRCD013 – assays pending)

• The results show the prospective zone for high grade nickel sulphide mineralisation is within the feeder and ‘neck’ of the intrusion where higher-tenor nickel sulphide (nickel in 100% sulphide) has been intersected (Figure 1)

• Great Boulder will now aim to identify higher grade nickel in massive sulphide accumulations at the base of the intrusion associated with high nickel tenor sulphide.

• At Mt Venn, the latest results continue to extend the known mineralisation which has now been defined over 1km of strike length. Significant new results include:

• 43m at 0.4% Cu, 0.2% Ni, 0.06% Co from 141m

  • including 11m at 0.5% Cu, 0.3% Ni, 0.09% Co

  • including 5m at 0.8% Cu, 0.2% Ni, 0.05% Co

• 20m at 0.6% Cu, 0.1% Ni, 0.02% Co from 141m

  • including 3m at 1.2% Cu

• 14m at 0.6% Cu, 0.2% Ni, 0.05% Co from 236m

  • including 4m at 1.0% Cu, 0.2% Ni, 0.05% Co

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Great Boulder Resources (ASX:GBR) is pleased to announce that the latest assays from the Eastern Mafic deposit in WA show that the Company is closing in on the higher-grade zone of nickel mineralisation.

Three distinct sulphide phases have been identified at the Eastern Mafic, with high-tenor nickel sulphide found along the feeder zone and neck of the intrusion at Zermatt considered the most prospective for high-grade nickel sulphide mineralisation (Figure 1).

This supports Great Boulder’s view that the Eastern Mafic is closer to the source of highgrade nickel mineralisation. Mt Venn only has a single phase of low-tenor nickel (Figure 2), however the deposit appears to be more copper and cobalt rich than the Eastern Mafic.

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Figure 1: Nickel tenor analysis showing three phases of sulphide mineralisation at the Eastern Mafic and single phase at Mt Venn. Barren sulphide is predominantly at the Eastern Mafic where late-stage granites intrude

Around the edge and along structures through the Eastern Mafic complex, late-stage granite intrudes and alters the primary sulphide into barren pyrite/pyrrhotite and magnetite. These areas produce very strong EM responses, however there is little nickel, cobalt or copper of economic interest and they are considered a low priority for follow-up drilling.

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Great Boulder Managing Director Stefan Murphy said the results were beginning to deliver a clear message about the nature of the mineralized system at the Eastern Mafic and Mt Venn.

“There is now a pattern emerging which supports our geological interpretation as to how the sulphide system was formed and where the higher grades and wider mineralisation may be found,” Mr Murphy said.

“Once all assays are received we will be able to target the prospective rocks that host the higher tenor nickel and look for the base of these intrusions where massive sulphide typically accumulates.”

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Figure 2: Gravity image showing Mt Venn and Eastern Mafic complexes. Intrusion target prospective for nickel sulphide highlighted in white and zones of barren sulphide in black

Eastern Mafic

Drilling has now finished with a total of 30 RC and diamond holes drilled for 6,777m. Results have been received from the majority of drill holes, with assays pending for the final eight holes of the program.

The maiden drill program successfully identified a new magmatic sulphide system at the Eastern Mafic that shows a significant improvement in nickel grade and tenor when compared to Mt Venn (Figure 1).

Drilling targeted electromagnetic (EM) conductors generated from airborne and ground surveys and nickel and copper in aircore geochemistry. Initial scout RC and diamond drilling was used to test the various conductors and orientation of mineralisation, with follow-up down-hole EM (DHEM) used in conjunction with assay results to identify the most prospective conductors.

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The results show multiple sulphide phases at the Eastern Mafic, with the most prospective and higher nickel grades and tenor occurring along the feeder zone and the intersection of the feeder with the Eastern Mafic.

Great Boulder will focus its exploration efforts along the 6km feeder zone and neck of the intrusion, targeting basal accumulations of the higher tenor nickel sulphide. Massive sulphide typically accumulates at the base of fertile mafic intrusions and higher grades are found where the high tenor nickel sulphide accumulates.

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Figure 3: Airborne EM over magnetic image showing intrusion target (white) and untested conductors prospective nickel sulphide mineralisation (LHS)

MLEM late time (Ch. 35) showing intrusion target (red), MLEM conductor plates and drill hole collar locations. New assay results in red, previously reported results in yellow (RHS)

Drilling at Zermatt has now defined mineralisation over 400m of strike, within an upper and lower sulphide lens. Mineralisation is mostly hosted in gabbro (minor ultramafic) with nickel grade and tenor improving towards the southeast and at depth in the lower lens.

Sulphide mineralisation is quite pervasive throughout the host mafic-ultramafic unit, but typically in low concentrations. Where sulphide accumulates as semi-massive to massive, there is an improvement in overall nickel grade but this tends to occur in zones of lower tenor nickel, resulting in grades of 0.3-0.5% Ni.

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Zones of higher nickel tenor sulphide (+2% nickel in 100% sulphide) has mostly been intersected as disseminated to matrix in texture and which does not produce a strong EM response, unlike the massive but barren pyrrhotite which produces a very strong response.

Moderate strength conductors associated with higher tenor nickel have produced the best results, eliminating spurious responses from highly conductive but barren sulphide. DHEM plate modeling provides the shape and location of the strongest part of these conductors, which can then be targeted as potential sources of more massive and higher-grade nickel.

Identifying the mafic-ultramafic unit that hosts the higher-tenor nickel sulphide is key as it has the best potential for basal accumulations of high-grade nickel sulphide mineralisation.

The Cortina prospect, located 500m southwest from Zermatt, hosts similar mineralisation to Zermatt. A more massive but lower nickel tenor lens that produces a strong EM response was intersected in 18EMRC006, while a disseminated but higher tenor lens associated with a mafic-ultramafic contact was intersected in 18EMRC003.

An extension to the higher tenor lens was drilled in 18EMRC021, intersecting 17m of sulphide mineralisation (assays pending).

Hole ID	From	To	Interval	Sulphide	Sulphide Texture	Prospect
	m	m	m	%
18EMRC021	134	151	17	5-25%	Disseminated – Matrix	Cortina

Table 1: Summary of mineralised intersections from 18EMRC021 (assays pending)

Diamond hole 18EMDD002 tested the Ben Lomond prospect (previously anomaly ML15) at the southern extent of the 6km long feeder zone that represents a wide ductile zone splaying of the main Yamarna shear. Strong ductile deformation has resulted in shearing of mafic, ultramafic and intermediate units with numerous granitoids intruding along the feeder zone.

Sulphide mineralisation appears to have been emplaced along the structure and then dislocated and cut by later intrusions/shearing. An upper zone of mineralisation (91.599.1m) hosts grades up to 0.6% Ni and appears to represent a remobilised sulphide lens with moderate nickel grade and tenor.

A lower lens of more copper dominant and low nickel tenor mineralisation has been intruded by multiple granitoids and appears structurally controlled and remobilised. Mineralisation in the lower lens is distinct from the upper lens, suggesting different sulphide phases that have a structural overprint.

At anomaly ML13, between Zermatt and Ben Lomond, drill hole 18EMRCD013 tested an off-hole DHEM conductor with a diamond drill tail. Two sulphide lenses were intersected, an upper zone of 23m from 270m downhole and a lower zone of 15m from 321m (assays pending).

Hole ID	From	To	Interval	Sulphide	Sulphide Texture	Prospect
	m	m	m	%
18EMRCD013	270	278	8	25-50%	Semi Massive - Massive	ML13 – Upper Lens
	278	283	5	5-10%	Disseminated	ML13 – Upper Lens
	283	293	10	10-50%	Blebby - Massive	ML13 – Upper Lens
	321	336	15	10-25%	Blebby – Semi Massive	ML13 – Lower Lens

Table 2: Summary of mineralised intersections from 18EMRCD013 (assays pending)

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All remaining samples have been dispatched to the laboratory for analysis, with final results expected in 3-4 weeks. The DHEM survey at the Eastern Mafic has also been completed with conductor plate modelling underway.

On receipt of final assays and DHEM conductor plates, Great Boulder will complete a revised geological model with the aim of identifying the lithological and structural units that host the most prospective nickel sulphide mineralisation.

Based on the strong structural control of mineralisation along the feeder zone and variations in the nickel tenor across different lithologies, Great Boulder will also assess the southern extension of the feeder zone and possible parallel structures to the east, closer to the terrane bounding Yamarna shear zone.

Mt Venn

A total of 19 RC and diamond holes were drilled at Mt Venn for 4,284m. Drilling focused on strike and dip extensions to the central zone, while also testing the northern extension.

Drilling continues to intersect wide zones of copper dominant mineralisation, with mineralisation now defined over 1km of strike.

Mineralisation within the central zone is now well defined over two sub-parallel northwest trending units that host multiple mineralised lenses. Mineralisation remains open along strike and down-dip where the latest drilling intersected a mineralisation to a depth of 240m below surface.

The northern extension of the system was also discovered during this program, with wide zones (20-44m) of copper dominant sulphide mineralisation intersected. A series of northwest trending structures cut through the central zone and also appear to offset the northern extension.

Significant new assay results include:

Hole ID	From	To	Interval	Cu	Ni	Co
	m	m	m	%	%	%
18MVRCD020	152	159	7	0.5	0.1	0.04
18MVRCD020	206	211	5	0.6	0.2	0.07
18MVRC021	40	50	10	0.5	0.1	0.03
18MVRC021	67	72	5	0.4	0.1	0.04
18MVRC021	78	80	2	1.2	0.0	0.01
18MVRC022	43	49	6	0.7	0.1	0.02
18MVRC023	236	250	14	0.6	0.2	0.05
-including	245	249	4	1.0	0.2	0.05
18MVRC023	256	261	5	0.6	0.2	0.06
18MVRC024	102	103	1	2.8	0.1	0.03
18MVRC024	141	184	43	0.4	0.2	0.06
-including	142	153	11	0.5	0.3	0.09
-including	169	174	5	0.8	0.2	0.05

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18MVRC025	141	161	20	0.6	0.1	0.02
-including	143	145	2	1.2	0.1	0.02
-including	155	158	3	1.2	0.1	0.02
18MVRCD026	219.8	233.7	13.9	0.6	0.1	0.05
-including	227.6	230.5	2.9	1.0	0.2	0.06
18MVRCD026	249.7	258.0	8.3	0.6	0.1	0.02
18MVRCD026	267.7	277.8	10.1	0.5	0.1	0.03
-including	270.2	273.1	2.9	1.0	0.1	0.03

Table 3: Summary of significant intersections at Mt Venn

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Figure 4: Mt Venn RC and diamond drilling over RTP 1VD magnetics and DHEM conductor plates. Previous reported holes (yellow) and new assay results (red)

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Appendix 1 – Eastern Mafic Drill Hole Location

Hole ID	Drill Type	Easting	Northing	Azi		Dip	Total Depth	Prospect
18EMDD001	DD	558200	6884860	25	-62		198.8	Zermatt
18EMDD002	DD	560069	6879843	251	-61		161	Ben Lomond
18EMRC001	RC	558300	6884834	48	-66		190	Zermatt
18EMRC002	RC	558139	6884957	58	-60		140	Zermatt
18EMRC003	RC	557765	6884650	28	-60		240	Cortina
18EMRC005	RC	558411	6885593	263	-60		240
18EMRC006	RC	557852	6884574	28	-60		274	Cortina
18EMRC007	RC	558617	6884241	233	-64		216
18EMRC009	RC	557620	6882840		-90		198
18EMRC011	RC	557793	6882722	246	-60		230
18EMRC014	RC	558382	6884758	48	-62		222	Zermatt
18EMRC015	RC	558530	6884240	268	-60		150
18EMRC016	RC	557532	6883440	268	-60		180
18EMRC018	RC	557264	6881995	270	-60		168
18EMRC019	RC	557877	6884614	180	-70		204	Cortina
18EMRC020	RC	558531	6884239		-90		96
18EMRC021	RC	557872	6884710	240	-60		270	Cortina
18EMRC022	RC	558389	6885602	270	-60		150
18EMRC023	RC	557229	6881986	230	-60		120
18ZERC001	220	558382	6884758	85	-60		220	Zermatt
18ZERC002	180	558348	6884783	45	-60		180	Zermatt
18ZERCD003	252	558392	6884731	90	-60		355	Zermatt
18BLRC001	RC	560030	6879852	255	-60		132	Ben Lomond
18BLRC002	RC	560129	6879856	255	-60		260	Ben Lomond
18EMRCD004	RC-DD	557360	6883437	79	-60		273.7
18EMRCD008	RC-DD	557536	6883009	270	-60		374.0
18EMRCD010	RC-DD	557729	6881920	268	-60		261.6
18EMRCD012	RC-DD	556895	6883155	258	-60		381.6
18EMRCD013	RC-DD	559405	6881789	262	-60		373.8	ML13
18EMRCD017	RC-DD	557574	6882520	268	-62		315.8

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Appendix 2 – Mt Venn Drill Hole Location

HoleID	Drill Type	Easting	Northing		Azi	Dip	Total Depth
18MVRC014	RC	550529	6886860	233		-60	195
18MVRC015	RC	550487	6887260	268		-60	210
18MVRC016	RC	550482	6887180	268		-60	180
18MVRC017	RC	550446	6887351	268		-60	240
18MVRC021	RC	550309	6887740	268		-60	155
18MVRC022	RC	550376	6887741	268		-60	180
18MVRC023	RC	550480	6887660	268		-60	276
18MVRC024	RC	550557	6887880	268		-60	216
18MVRC025	RC	550549	6887980	268		-60	210
18MVRC027	RC	550516	6888048	230		-60	174
18MVRC028	RC	550512	6888160	268		-60	180
18MVRC029	RC	550482	6888231	270		-60	168
18MVRC030	RC	550412	6887692	265		-60	256
18MVRC031	RC	550494	6888298	270		-70	180
18MVRC032	RC	550565	6887815	268		-60	280
18MVRC033	RC	550999	6887169	180		-60	180
18MVRCD018	RC-DD	550523	6887420	268		-60	120
18MVRCD020	RC-DD	550471	6887580	268		-60	150
18MVRCD026	RC-DD	550488	6887500	268		-70	150

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Appendix 3 – Summary of Eastern Mafic Significant Intersections

18EMRC014 Zermatt	18EMRC014 Zermatt	18EMRC014 Zermatt	18EMRC014 Zermatt	18EMRC014 Zermatt	18EMRC014 Zermatt	18EMRC014 Zermatt	18EMRC014 Zermatt
From To	Interval	Cu % (max graph 1%)		Ni % (max graph 0.5%)		Co ppm (max graph 1000ppm)
71 72	1	0.09		0.10		503
72 73	1	0.20		0.07		314
73 74	1	0.14		0.08		367
74 75	1	0.93		0.03		103
75 76	1	0.16		0.01		41
113 114	1	0.27		0.39		329
114 115	1	0.11		0.02		35
115 116	1	0.04		0.03		75
116 117	1	0.03		0.02		29
117 118	1	0.01		0.02		128
118 119	1	0.10		0.35		316
119 120	1	0.14		0.51		458
120 121	1	0.11		0.15		153
121 122	1	0.05		0.04		49
122 123	1	0.06		0.04		96
123 124	1	0.12		0.38		976
124 125	1	0.23		0.26		426
125 126	1	0.10		0.15		170
126 127	1	0.11		0.45		630
127 128	1	0.40		0.35		336
128 129	1	0.17		0.46		637
129 130	1	0.11		0.30		412
130 131	1	0.03		0.06		85
131 132	1	0.03		0.04		123
132 133	1	0.18		0.19		181
133 134	1	0.34		0.19		199
179 180	1	0.07		0.22		187
180 181	1	0.07		0.31		168
181 182	1	0.23		0.26		138
182 183	1	0.27		0.22		123
183 184	1	0.27		0.14		88
184 185	1	0.28		0.25		178
185 186	1	1.26		0.27		173
186 187	1	0.14		0.15		122

18EMDD001 Zermatt	18EMDD001 Zermatt	18EMDD001 Zermatt	18EMDD001 Zermatt	18EMDD001 Zermatt	18EMDD001 Zermatt	18EMDD001 Zermatt
From To	Interval	Cu % (max graph 1%)	Ni % (max graph 0.5%)		Co ppm (max graph 1000ppm)
154.7 155.0	0.3	2.63	0.18		140
156.6 157.0	0.4	1.19	0.01		21
157.0 157.3	0.3	0.38	0.08		84
157.3 158.1	0.8	0.29	0.18		286
158.1 158.5	0.4	0.30	0.22		305
158.5 159.0	0.5	0.89	0.09		291
159.0 160.0	1.0	0.77	0.06		72
175.6 176.1	0.5	0.20	0.22		349
176.1 177.0	0.9	0.05	0.07		100
177.0 177.3	0.3	0.05	0.03		151
177.3 178.0	0.7	0.22	0.23		874

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18ZERC001 Zermatt	18ZERC001 Zermatt	18ZERC001 Zermatt	18ZERC001 Zermatt	18ZERC001 Zermatt	18ZERC001 Zermatt	18ZERC001 Zermatt	18ZERC001 Zermatt
From To	Interval	Cu % (max graph 1%)		Ni % (max graph 0.5%)		Co ppm (max graph 1000ppm)
123 124	1	0.63		0.24		217
124 125	1	0.11		0.27		243
125 126	1	0.19		0.31		425
126 127	1	0.42		0.11		157
127 128	1	0.12		0.34		508
128 129	1	0.13		0.34		1,110
129 130	1	0.09		0.46		501
130 131	1	0.14		0.10		110
131 132	1	0.03		0.02		45
132 133	1	0.01		0.01		22
133 134	1	0.06		0.05		67
134 135	1	0.17		0.19		195
135 136	1	0.21		0.08		91
136 137	1	0.15		0.06		221
137 138	1	0.17		0.03		677
138 139	1	0.78		0.06		101
139 140	1	0.10		0.03		47
140 141	1	0.19		0.23		356
141 142	1	0.11		0.23		274
142 143	1	0.08		0.04		80
143 144	1	0.17		0.11		102
175 176	1	0.30		0.15		97
176 177	1	0.17		0.21		163
177 178	1	0.07		0.12		100
178 179	1	0.07		0.06		63
179 180	1	0.11		0.41		224
180 181	1	0.12		0.49		514
181 182	1	0.53		0.31		237
182 183	1	0.30		0.31		238
183 184	1	0.42		0.48		329
184 185	1	0.20		0.18		117
185 186	1	0.19		0.14		108
186 187	1	0.09		0.22		189
187 188	1	0.15		0.27		202

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18ZERC002 Zermatt	18ZERC002 Zermatt	18ZERC002 Zermatt	18ZERC002 Zermatt	18ZERC002 Zermatt	18ZERC002 Zermatt	18ZERC002 Zermatt
From To	Interval	Cu % (max graph 1%)		Ni % (max graph 0.5%)	Co ppm (max graph 1000ppm)
101 102	1	1.20		0.03	39
102 103	1	0.05		0.11	102
103 104	1	0.02		0.04	44
104 105	1	0.09		0.18	158
105 106	1	0.16		0.35	287
106 107	1	0.06		0.19	353
107 108	1	0.23		0.15	534
108 109	1	0.18		0.43	535
109 110	1	0.11		0.36	250
110 111	1	0.19		0.24	336
111 112	1	0.12		0.47	287
112 113	1	0.25		0.36	215
113 114	1	0.13		0.12	94
114 115	1	0.10		0.25	174
115 116	1	0.11		0.24	416
116 117	1	0.18		0.32	616
117 118	1	0.15		0.32	448
118 119	1	0.18		0.29	378
119 120	1	0.68		0.33	372
120 121	1	0.34		0.22	232
121 122	1	0.17		0.28	301
122 123	1	0.20		0.35	711
123 124	1	0.33		0.26	625
124 125	1	0.20		0.21	999
125 126	1	0.15		0.36	599
126 127	1	0.16		0.40	570
127 128	1	0.16		0.31	308
128 129	1	0.21		0.38	420
129 130	1	0.08		0.31	289
130 131	1	0.02		0.10	99
131 132	1	0.07		0.20	361
132 133	1	0.13		0.47	740
133 134	1	0.05		0.29	224
150 151	1	0.11		0.16	270
151 152	1	0.16		0.32	307
152 153	1	0.11		0.23	173
153 154	1	0.46		0.11	105
154 155	1	0.36		0.07	91

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18EMDD002 Ben Lomond	18EMDD002 Ben Lomond	18EMDD002 Ben Lomond	18EMDD002 Ben Lomond	18EMDD002 Ben Lomond	18EMDD002 Ben Lomond	18EMDD002 Ben Lomond	18EMDD002 Ben Lomond
From To	Interval	Cu % (max graph 1%)		Ni % (max graph 0.5%)		Co ppm (max graph 1000ppm)
90.0 90.4	0.4	0.20		0.07		179
90.4 91.5	1.1	0.03		0.02		114
91.5 92.5	0.9	0.41		0.23		388
92.5 92.9	0.4	0.04		0.36		1,020
92.9 93.8	0.9	0.27		0.08		448
93.8 94.4	0.6	0.27		0.06		86
94.4 94.8	0.4	0.04		0.36		295
94.8 95.2	0.5	0.01		0.03		86
95.2 96.0	0.8	0.06		0.14		160
96.0 97.0	1.0	0.03		0.10		119
97.0 97.7	0.7	0.05		0.24		407
97.7 98.8	1.0	0.05		0.09		120
98.8 99.1	0.3	0.08		0.58		263
119.5 120.3	0.7	1.47		0.15		1,295
120.3 120.6	0.3	0.03		0.01		108
120.6 121.2	0.6	0.23		0.03		191
121.2 121.5	0.3	2.81		0.01		31
121.5 122.0	0.5	0.60		0.00		7
128.0 128.4	0.4	0.64		0.11		106
128.4 128.9	0.5	0.09		0.40		297
128.9 129.5	0.6	0.19		0.25		203

Appendix 4 – Summary of Mt Venn Significant Intersections

18MVRCD020	18MVRCD020	18MVRCD020	18MVRCD020	18MVRCD020	18MVRCD020
From To	Interval	Cu % (max graph 1%)	Ni % (max graph 0.5%)		Co ppm (max graph 1000ppm)
152.0 152.9	0.9	0.92	0.02		83
152.9 153.2	0.3	0.15	0.14		471
153.2 153.8	0.6	0.12	0.22		709
153.8 154.2	0.4	0.22	0.13		430
154.2 154.7	0.5	0.46	0.12		418
154.7 155.5	0.8	0.44	0.14		516
155.5 156.0	0.5	0.32	0.12		795
156.0 157.0	1.0	0.28	0.10		318
157.0 157.3	0.3	0.27	0.10		328
157.3 157.8	0.5	0.97	0.09		314
157.8 158.1	0.3	0.70	0.13		416
158.1 159.0	0.9	0.53	0.04		148
164.8 165.4	0.6	1.55	0.02		67
206.0 206.7	0.7	1.18	0.03		117
206.7 207.2	0.4	1.08	0.21		666
207.2 207.5	0.3	0.69	0.07		247
207.5 208.0	0.6	0.31	0.28		861
208.0 209.0	1.0	0.22	0.30		903
209.0 210.0	1.0	0.23	0.30		898
210.0 211.2	1.2	0.40	0.24		733
211.2 211.5	0.3	2.05	0.12		483

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18MVRC021	18MVRC021	18MVRC021	18MVRC021	18MVRC021	18MVRC021	18MVRC021	18MVRC021
From To	Interval	Cu % (max graph 1%)		Ni % (max graph 0.5 %)		Co ppm (max graph 1000ppm)
32 33	1	0.81		0.04		168
33 34	1	0.35		0.03		135
34 35	1	0.18		0.02		87
35 36	1	0.09		0.01		64
36 37	1	0.04		0.02		70
37 38	1	0.11		0.05		177
38 39	1	0.18		0.05		153
39 40	1	0.30		0.03		128
40 41	1	0.73		0.05		211
41 42	1	0.23		0.16		458
42 43	1	0.18		0.09		255
43 44	1	0.61		0.16		463
44 45	1	0.38		0.18		524
45 46	1	0.50		0.15		453
46 47	1	0.36		0.09		263
47 48	1	0.35		0.12		380
48 49	1	0.84		0.08		258
49 50	1	0.72		0.04		130
67 68	1	0.58		0.07		201
68 69	1	0.25		0.20		547
69 70	1	0.54		0.12		342
70 71	1	0.29		0.12		336
71 72	1	0.51		0.14		401
72 73	1	0.46		0.02		64
73 74	1	0.27		0.03		104
74 75	1	0.04		0.01		34
75 76	1	0.13		0.03		87
76 77	1	0.46		0.04		155
77 78	1	0.06		0.01		31
78 79	1	0.86		0.06		166
79 80	1	1.45		0.04		133
80 81	1	0.35		0.03		103
81 82	1	0.29		0.01		46
90 91	1	0.92		0.07		185
91 92	1	0.20		0.05		120
92 93	1	0.19		0.05		140
93 94	1	0.13		0.06		153
94 95	1	0.29		0.12		306
107 108	1	0.29		0.17		408
108 109	1	0.31		0.20		487
109 110	1	0.62		0.09		236
110 111	1	0.35		0.04		118
111 112	1	0.26		0.04		112

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18MVRC022	18MVRC022	18MVRC022	18MVRC022	18MVRC022
From To	Interval	Cu % (max graph 1%)	Ni % (max graph 0.5%)	Co ppm (max graph 1000ppm)
43 44	1	0.75	0.10	356
44 45	1	0.65	0.07	257
45 46	1	0.52	0.06	214
46 47	1	0.66	0.04	169
47 48	1	0.63	0.04	154
48 49	1	0.79	0.08	300
49 50	1	0.27	0.09	346
50 51	1	0.28	0.07	262

18MVRC023	18MVRC023	18MVRC023	18MVRC023	18MVRC023
From To	Interval	Cu % (max graph 1%)	Ni % (max graph 0.5%)	Co ppm (max graph 1000ppm)
187 188	1	0.28	0.06	250
188 189	1	0.22	0.05	198
189 190	1	0.30	0.04	157
190 191	1	0.64	0.06	252
191 192	1	0.26	0.06	216
231 232	1	0.48	0.07	230
232 233	1	0.23	0.04	144
233 234	1	0.18	0.06	218
234 235	1	0.14	0.11	351
235 236	1	0.14	0.06	202
236 237	1	0.30	0.17	524
237 238	1	0.64	0.15	463
238 239	1	0.80	0.16	494
239 240	1	0.83	0.09	403
240 241	1	0.36	0.21	617
241 242	1	0.41	0.17	509
242 243	1	0.47	0.20	581
243 244	1	0.20	0.29	830
244 245	1	0.24	0.24	722
245 246	1	0.88	0.15	450
246 247	1	1.21	0.19	568
247 248	1	1.09	0.14	418
248 249	1	0.65	0.18	522
249 250	1	0.19	0.19	534
256 257	1	0.39	0.23	621
257 258	1	0.38	0.25	678
258 259	1	0.55	0.23	644
259 260	1	0.98	0.20	539
260 261	1	0.70	0.15	431
261 262	1	0.23	0.07	195

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18MVRC024	18MVRC024	18MVRC024	18MVRC024	18MVRC024	18MVRC024	18MVRC024
From To	Interval	Cu % (max graph 1%)		Ni % (max graph 0.5 %)		Co ppm (max graph 1000ppm)
102 103	1	2.75		0.10		294
141 142	1	0.43		0.08		263
142 143	1	0.57		0.18		601
143 144	1	0.34		0.23		763
144 145	1	0.52		0.28		958
145 146	1	0.73		0.29		977
146 147	1	0.65		0.29		959
147 148	1	0.32		0.30		1,000
148 149	1	0.55		0.27		917
149 150	1	0.40		0.27		926
150 151	1	0.34		0.28		920
151 152	1	0.40		0.27		892
152 153	1	0.60		0.16		532
153 154	1	0.35		0.09		309
154 155	1	0.27		0.16		547
155 156	1	0.22		0.23		780
156 157	1	0.29		0.22		716
157 158	1	0.93		0.12		396
158 159	1	0.40		0.07		261
159 160	1	0.40		0.09		296
160 161	1	0.48		0.09		321
161 162	1	0.47		0.10		347
162 163	1	0.04		0.02		68
163 164	1	0.21		0.09		288
164 165	1	0.29		0.20		632
165 166	1	0.29		0.12		391
166 167	1	0.23		0.24		757
167 168	1	0.21		0.24		783
168 169	1	0.32		0.22		706
169 170	1	1.13		0.14		471
170 171	1	0.27		0.22		688
171 172	1	0.43		0.20		631
172 173	1	0.51		0.18		563
173 174	1	1.75		0.11		372
174 175	1	0.26		0.16		512
175 176	1	0.69		0.16		524
176 177	1	0.45		0.16		496
177 178	1	0.26		0.04		132
178 179	1	0.19		0.16		503
179 180	1	0.14		0.06		199
180 181	1	0.31		0.28		845
181 182	1	0.22		0.26		795
182 183	1	0.66		0.15		473
183 184	1	0.55		0.05		177

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18MVRC025	18MVRC025	18MVRC025	18MVRC025	18MVRC025	18MVRC025
From To	Interval	Cu % (max graph 1%)	Ni % (max graph 0.5%)		Co ppm (max graph 1000ppm)
141 142	1	0.43	0.05		150
142 143	1	0.24	0.05		160
143 144	1	1.32	0.08		248
144 145	1	1.17	0.05		167
145 146	1	0.31	0.07		217
146 147	1	0.32	0.13		369
147 148	1	0.35	0.04		133
148 149	1	1.19	0.06		199
149 150	1	0.70	0.03		112
150 151	1	0.08	0.04		159
151 152	1	0.10	0.02		64
152 153	1	0.25	0.06		173
153 154	1	0.54	0.06		171
154 155	1	0.34	0.05		152
155 156	1	0.67	0.10		296
156 157	1	2.10	0.07		192
157 158	1	0.72	0.02		65
158 159	1	0.44	0.06		163
159 160	1	0.65	0.03		97
160 161	1	0.46	0.07		210

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18MVRCD026	18MVRCD026	18MVRCD026	18MVRCD026	18MVRCD026	18MVRCD026	18MVRCD026	18MVRCD026
From To	Interval	Cu % (max graph 1%)		Ni % (max graph 0.5%)		Co ppm (max graph 1000ppm)
219.8 220.7	0.9	0.69		0.16		517
220.7 221.3	0.6	1.13		0.11		370
221.3 222.0	0.7	0.36		0.08		1,400
222.0 223.0	1.0	0.63		0.08		410
223.0 223.8	0.8	0.44		0.08		257
223.8 224.6	0.8	0.45		0.07		208
224.6 225.0	0.5	1.03		0.14		400
225.0 225.8	0.7	0.09		0.03		101
225.8 226.4	0.6	0.27		0.08		263
226.4 226.8	0.4	0.19		0.18		552
226.8 227.1	0.3	0.06		0.03		100
227.1 227.6	0.5	0.46		0.05		165
227.6 228.2	0.6	1.51		0.18		550
228.2 228.9	0.7	0.27		0.22		683
228.9 229.6	0.7	0.64		0.24		692
229.6 229.9	0.3	0.45		0.12		526
229.9 230.2	0.3	1.96		0.07		246
230.2 230.5	0.3	2.04		0.15		453
230.5 231.3	0.8	0.30		0.28		837
231.3 231.9	0.7	0.52		0.02		71
231.9 232.5	0.5	0.27		0.20		638
232.5 232.9	0.5	2.14		0.08		274
232.9 233.7	0.8	0.21		0.28		863
249.7 250.1	0.5	1.53		0.14		451
250.1 251.1	0.9	0.16		0.00		15
251.1 251.6	0.5	1.84		0.03		118
251.6 252.1	0.5	0.63		0.02		82
252.1 252.7	0.6	0.06		0.01		40
252.7 253.3	0.6	0.52		0.03		99
253.3 253.8	0.4	1.32		0.02		83
253.8 254.6	0.8	0.56		0.09		293
254.6 255.2	0.6	0.26		0.04		148
255.2 256.1	0.9	1.13		0.06		250
256.1 257.2	1.1	0.10		0.22		660
257.2 258.0	0.8	0.51		0.08		353
258.0 258.9	0.9	0.37		0.04		121
269.3 269.6	0.3	0.35		0.12		395
269.6 270.2	0.5	0.12		0.25		752
270.2 270.6	0.5	0.74		0.07		215
270.6 270.9	0.3	3.61		0.12		367
270.9 271.3	0.4	0.47		0.18		529
271.3 272.0	0.7	0.87		0.05		161
272.0 272.4	0.4	0.65		0.06		189
272.4 273.1	0.7	0.86		0.12		363
273.1 273.8	0.7	0.18		0.04		123
273.8 274.3	0.5	0.24		0.06		190
274.3 274.9	0.6	0.11		0.19		582
274.9 275.7	0.8	0.40		0.11		332
275.7 276.6	0.9	0.30		0.10		321
276.6 276.8	0.3	0.23		0.06		174
276.8 277.2	0.3	0.57		0.16		483
277.2 277.8	0.6	0.11		0.16		497
277.8 278.3	0.5	0.18		0.08		255
278.3 278.7	0.4	0.01		0.00		19
278.7 279.6	0.9	0.71		0.08		294
279.6 280.0	0.4	0.20		0.02		80
280.0 281.0	1.0	0.26		0.01		21
281.0 282.0	1.0	0.35		0.04		160
288.0 288.6	0.6	0.98		0.03		167
288.6 289.0	0.4	0.73		0.02		109

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18MVRC027	18MVRC027	18MVRC027	18MVRC027	18MVRC027	18MVRC027	18MVRC027	18MVRC027
From To	Interval	Cu % (max graph 1%)		Ni % (max graph 0.5%)		Co ppm (max graph 1000ppm)
108 109	1	1.03		0.04		164
109 110	1	1.94		0.04		168
110 111	1	0.18		0.04		139
111 112	1	0.11		0.10		309
112 113	1	0.14		0.09		273
113 114	1	0.30		0.10		325
114 115	1	0.17		0.09		293
115 116	1	0.21		0.11		349
116 117	1	0.17		0.11		367
117 118	1	0.17		0.09		306
118 119	1	0.36		0.13		417
119 120	1	0.29		0.12		392
120 121	1	0.20		0.09		280
121 122	1	0.32		0.07		235
122 123	1	0.39		0.10		322
123 124	1	0.14		0.04		112
124 125	1	0.18		0.07		202
125 126	1	0.45		0.14		431
126 127	1	0.28		0.15		445
127 128	1	0.23		0.11		374
128 129	1	0.25		0.14		430
164 165	1	0.24		0.01		31
165 166	1	0.74		0.07		182
166 167	1	0.03		0.01		21
167 168	1	0.64		0.08		215

18MVRC028
From To	Interval	Cu % (max graph 1%)	Ni % (max graph 0.5%)		Co ppm (max graph 1000ppm)
44 45	1	1.13	0.03		103
45 46	1	0.39	0.10		328
46 47	1	0.35	0.13		379
47 48	1	0.37	0.10		321
48 49	1	0.22	0.23		679
49 50	1	0.18	0.23		695
50 51	1	0.32	0.17		501
51 52	1	0.34	0.10		291
52 53	1	0.26	0.07		211
53 54	1	0.16	0.04		113
54 55	1	0.19	0.03		85
55 56	1	0.43	0.08		241
56 57	1	0.25	0.02		80
57 58	1	0.09	0.02		81
58 59	1	0.07	0.02		84
59 60	1	0.16	0.05		161
60 61	1	0.07	0.02		72
61 62	1	0.08	0.03		110
62 63	1	0.32	0.05		167
63 64	1	0.37	0.05		169
64 65	1	0.38	0.06		198
65 66	1	0.76	0.07		236

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Competent Person’s Statement

Exploration information in this Announcement is based upon work undertaken by Mr Stefan Murphy whom is a Member of the Australasian Institute of Geoscientists (AIG). Mr Stefan Murphy has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a ‘Competent Person’ as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (JORC Code). Mr Stefan Murphy is an employee of Great Boulder and consents to the inclusion in the report of the matters based on their information in the form and context in which it appears.

Forward Looking Statements

This Announcement is provided on the basis that neither the Company nor its representatives make any warranty (express or implied) as to the accuracy, reliability, relevance or completeness of the material contained in the Announcement and nothing contained in the Announcement is, or may be relied upon as a promise, representation or warranty, whether as to the past or the future. The Company hereby excludes all warranties that can be excluded by law. The Announcement contains material which is predictive in nature and may be affected by inaccurate assumptions or by known and unknown risks and uncertainties and may differ materially from results ultimately achieved.

The Announcement contains “forward-looking statements”. All statements other than those of historical facts included in the Announcement are forward-looking statements including estimates of Mineral Resources. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to, copper, gold and other metals price volatility, currency fluctuations, increased production costs and variances in ore grade recovery rates from those assumed in mining plans, as well as political and operational risks and governmental regulation and judicial outcomes. The Company does not undertake any obligation to release publicly any revisions to any “forward-looking statement” to reflect events or circumstances after the date of the Announcement, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. All persons should consider seeking appropriate professional advice in reviewing the Announcement and all other information with respect to the Company and evaluating the business, financial performance and operations of the Company. Neither the provision of the Announcement nor any information contained in the Announcement or subsequently communicated to any person in connection with the Announcement is, or should be taken as, constituting the giving of investment advice to any person.

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Appendix- JORC Code, 2012 Edition Table 1

The following table relates to activities undertaken at Great Boulder’s Yamarna project.

Section 1 Sampling Techniques and Data

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

Criteria	JORC Code explanation	JORC Code explanation	Commentary
Sampling	•	Nature and quality of sampling (eg cut	Reverse circulation drilling (RC) was used to produce a 1m
techniques		channels, random chips, or specific	bulk sample and representative 1m split samples
		specialised industry standard measurement	(nominally a 12.5% split) were collected using a cone
		tools appropriate to the minerals under	splitter.
		investigation, such as down hole gamma
		sondes, or handheld XRF instruments, etc).	Diamond drilling (DD) was also undertaken, with samples
		These examples should not be taken as	taken either as half core (NQ2), or quarter core (HQ) for
		limiting the broad meaning of sampling.	laboratory analysis.
	•	Include reference to measures taken to	Geological logging was completed and mineralised
		ensure sample representivity and the	intervals were determined by the geologists to be
		appropriate calibration of any	submitted as 1m samples for RC drilling. In RC intervals
		measurement tools or systems used.	assessed as unmineralised, 4m composite (scoop)
			samples were collected for laboratory for analysis. If
	•	Aspects of the determination of	these 4m composite samples come back with anomalous
		mineralisation that are Material to the	grade the corresponding original 1m split samples are
		Public Report.	then routinely submitted to the laboratory for analysis.
	•	In cases where ‘industry standard’ work has been done this would be relatively simple	For the diamond drilling, samples were selected after geological logging and range in sample lengths from 0.3m to 1.5m.
		(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	The samples were crushed and split at the laboratory, with up to 3kg pulverised, with a 50g samples analysed by Industry standard methods.
		coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine	The sampling techniques used are deemed appropriate for the style of exploration.
		nodules) may warrant disclosure of detailed
		information.
Drilling	•	Drill type (eg core, reverse circulation, open-	Diamond drilling comprises NQ2 and HQ sizes.
techniques		hole hammer, rotary air blast, auger,
		Bangka, sonic, etc) and details (eg core	Diamond core orientation is determined using a Relfex
		diameter, triple or standard tube, depth of	ACT II RD tool. The core is reconstructed into continuous
		diamond tails, face-sampling bit or other	runs on an angle iron cradle for orientation marking.
		type, whether core is oriented and if so, by
		what method, etc).
Drill sample	•	Method of recording and assessing core and	Logging of all samples followed established company
recovery		chip sample recoveries and results assessed.	procedures which included recording of qualitative fields
			to allow discernment of sample reliability. This included
	•	Measures taken to maximise sample	(but was not limited to) recording: sample condition,
		recovery and ensure representative nature	sample recovery, sample method.
		of the samples.
			While the drilling programme is still on going, no issues
	•	Whether a relationship exists between	relating to core recovery have been noted.
		sample recovery and grade and whether
		sample bias may have occurred due to

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		preferential loss/gain of fine/coarse	No quantitative analysis of samples weights, sample
		material.	condition or recovery has been undertaken.
			No quantitative twinned drilling analysis has been
			undertaken at the project.
Logging	•	Whether core and chip samples have been	Geological logging of samples followed established
		geologically and geotechnically logged to a	company and industry common procedures. Qualitative
		level of detail to support appropriate	logging of samples included (but was not limited to)
		Mineral Resource estimation, mining	lithology, mineralogy, alteration and weathering.
		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.
Sub-sampling	•	If core, whether cut or sawn and whether	Splitting of RC samples occurred via cone splitter by the
techniques		quarter, half or all core taken.	RC drill rig operators. Cone splitting of RC drill samples
and sample			occurred regardless of the sample condition.
preparation	•	If non-core, whether riffled, tube sampled,
		rotary split, etc and whether sampled wet or	Samples taken were typically between 1.5-3.3kg.
		dry.
			All samples were submitted to ALS Minerals for analyses.
	•	For all sample types, the nature, quality and	The sample preparation included:
		appropriateness of the sample preparation	− Samples were weighed, crushed (such that a
		technique.	minimum of 70% pass 2mm) and pulverised
	•	Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.	(such that a minimum of 85% pass 75um) as per ALS standards. − A 4 acid digest (HNO3-HBr-HF-HCl) and ICP-AES (ALS method; MS-ICP61g) was used for 33
	•	Measures taken to ensure that the sampling	multi-elements. This also included Co, Cu, Ni,
		is representative of the in situ material	Zn. Note: ME-MS61g uses HBr in lieu of HClO3
		collected, including for instance results for	(used in ME-MS61 4 acid digest). This change
		field duplicate/second-half sampling.	relates to improving resolution of sulphur
			values in Mt Venn mineralsation.
	•	Whether sample sizes are appropriate to	− For elements that reported over range, ALS
		the grain size of the material being sampled.	used ore grade 4 acid digest and ICP-AES
			methods; (nickel) Ni-OG62, (copper) Cu-OG62.
			− Sulphur over range used ALS method S-IR08
			(Leco Sulphur analyzer).
			− Iron over range used ALS method Fe-ICP81
			(Sodium Peroxide Fusion).
			Sample collection, size and analytical methods are
			deemed appropriate for the style of exploration.
Quality of	•	The nature, quality and appropriateness of	All samples were assayed by industry standard methods
assay data		the assaying and laboratory procedures	through commercial laboratories in Australia.
and		used and whether the technique is
laboratory		considered partial or total.	Typical analysis methods are detailed in the previous
tests			section and are consider ‘near total’ values.
	•	For geophysical tools, spectrometers,
		handheld XRF instruments, etc, the	Routine ‘standard’ (mineralised pulp) Certified Reference
		parameters used in determining the	Material (CRM) was inserted by Great Boulder at a
		analysis including instrument make and	nominal rate of 1 in 50 samples.

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		model, reading times, calibrations factors	Routine ‘blank’ material (unmineralised sand) was
		applied and their derivation, etc.	inserted at a nominal rate of 1 in 100 samples. No
			significant issues were noted.
	•	Nature of quality control procedures
		adopted (eg standards, blanks, duplicates,	No duplicate or umpire checks were undertaken.
		external laboratory checks) and whether
		acceptable levels of accuracy (ie lack of bias)	The analytical laboratories provided their own routine
		and precision have been established.	quality controls within their own practices. No significant
			issues were noted.
Verification of	•	The verification of significant intersections	No verification of sampling and assaying has been
sampling and		by either independent or alternative	undertaken in this exploration programme. No twinned
assaying		company personnel.	drilling has been undertaken.
	•	The use of twinned holes.	Great Boulder has strict procedures for data capture, flow
			and data storage, and validation.
	•	Documentation of primary data, data entry
		procedures, data verification, data storage	Limited adjustments were made to returned assay data;
		(physical and electronic) protocols.	values returned lower than detection level were set to the
	•	Discuss any adjustment to assay data.	methodology’s detection level, and this was flagged by code in the database.
Location of	•	Accuracy and quality of surveys used to	Drill collars were set out using a hand held GPS and final
data points		locate drill holes (collar and down-hole	collar were collected using a handheld GPS.
		surveys), trenches, mine workings and other
		locations used in Mineral Resource	Downhole surveys were completed by the drilling
		estimation.	contractors. Holes without downhole survey use planned
			or compass bearing/dip measurements for survey
	•	Specification of the grid system used.	control.
	•	Quality and adequacy of topographic	The MGA94 UTM zone 51 coordinate system was used for
		control.	all undertakings.
Data spacing	•	Data spacing for reporting of Exploration	The spacing and location of the majority of the drilling in
and		Results.	the projects is, by the nature of early exploration,
distribution			variable.
	•	Whether the data spacing and distribution
		is sufficient to establish the degree of	The spacing and location of data is currently only being
		geological and grade continuity appropriate	considered for exploration purposes.
		for the Mineral Resource and Ore Reserve
		estimation procedure(s) and classifications
		applied.
	•	Whether sample compositing has been
		applied.
Orientation of	•	Whether the orientation of sampling	Drilling was nominally perpendicular to regional
data in		achieves unbiased sampling of possible	mineralisation trends where interpreted and practical.
relation to		structures and the extent to which this is	True width and orientation of intersected mineralisation
geological		known, considering the deposit type.	is currently unknown.
structure
	•	If the relationship between the drilling	A list of the drillholes and orientations are reported with
		orientation and the orientation of key	significant intercepts is provided as an appended table.
		mineralised structures is considered to have
		introduced a sampling bias, this should be	The spacing and location of the data is currently only
		assessed and reported if material.	being considered for exploration purposes.

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Sample	•	The measures taken to ensure sample	Great Boulder has strict chain of custody procedures that
security		security.	are adhered to for drill samples.
			All sample bags are pre-printed and pre-numbered.
			Sample bags are placed in a polyweave bags (up to 5
			samples) and closed with a zip tie such that no sample
			material can spill out and no one can tamper with the
			sample once it leaves the company’s custody.
Audits or	•	The results of any audits or reviews of	None completed.
reviews		sampling techniques and data.

Section 2 Reporting of Exploration Results

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

Criteria	JORC	Code explanation				Commentary
Mineral	•	Type, reference name/number, location				Great Boulder Resource Ltd (GBR) is comprised of
tenement and		and ownership including agreements or				several projects with associated tenements;
land tenure		material issues with	third parties such as
status		joint ventures, partnerships, overriding				Yamarna tenements and details;
		royalties, native title interests, historical
		sites, wilderness or national park and				Exploration licences E38/2685, E38/2952, E38/2953,
		environmental settings.				E38/5957, E38/2958, E38/2320 and prospecting
						licence P38/4178 where,
	•	The security of the tenure held at			the
		time of reporting along with any known				GBR holds a 75% interest in the Yamarna Project with
		impediments to obtaining a license to				its joint venture partner EGMC holding a 25% interest.
		operate in the area.				EGMC has elected to contribute to expenditure to
						maintain its 25% interest I the Yamarna project. If
						EGMC elects to not contribute to the joint venture it
						will convert to a 2% Net Smelter Royalty (NSR) and
						GBR will have a 100% interest in the project.
Exploration	•	Acknowledgment	and	appraisal	of	Previous explorers included:
done by other		exploration by other	parties.			− 1990’s. Kilkenny Gold NL completed wide-
parties						spaced, shallow, RAB drilling over a limited
						area. Gold assay only.
						− 2008. Elecktra Mines Ltd (now Gold Road
						Resources Ltd) completed two shallow RC
						holes targeting extension to Mt Venn
						igneous complex. XRF analysis only, no
						geochemical analysis completed.
						− 2011. Crusader Resources Ltd completed
						broad-spaced aircore drilling targeting
						extensions to Thatcher’s Soak uranium
						mineralisation. XRF anlaysis only, no
						geochemical analysis completed.
						− In late 2015 Gold Road drilled and assayed
						an RC drill hole on the edge of an EM
						anomaly identified from an airborne XTEM
						survey, identifying copper-nickel-cobalt
						mineralisation.
Geology	•	Deposit type, geological setting and style				Great Boulder’s Yamarna Project hosts the southern
		of mineralisation.				extension of the Mt Venn igneous complex. This

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			complex is immediately west of the Yamarna
			greenstone belt.
			The mineralisation encountered in the Mt Venn
			drilling suggests that sulphide mineralisation is
			prominent along a EM conductor trend, and shows a
			highly sulphur-saturated system within
			metamorphosed dolerite and gabbro sequence.
			Visual logging of sulphide mineralogy shows
			pyrrhotite dominant with chalcopyrite.
Drill hole	•	A summary of all information material to	A complete list of the reported significant results from
Information		the understanding of the exploration	Great Boulder’s drilling is provided in the body of the
		results including a tabulation of the	report.
		following information for all Material drill
		holes:	A list of the drillhole coordinates, orientations and
	o	easting and northing of the drill hole	metrics are provided as an appended table.
		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.
Data	•	In reporting Exploration Results,	No weight averaging techniques, aggregation
aggregation		weighting averaging techniques,	methods or grade truncations were applied to these
methods		maximum and/or minimum grade	exploration results.
		truncations (eg cutting of high grades)
		and cut-off grades are usually Material	All significant intercept lengths were from diamond
		and should be stated.	drilling. No length weighting was applied.
	•	Where aggregate intercepts incorporate	No metal equivalents are used.
		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.
Relationship	•	These relationships are particularly	The orientation of structures and mineralisation is
between		important in the reporting of Exploration	not known with certainty but drilling was conducted
mineralisation		Results.	using appropriate orientations for interpreted
widths and			mineralisation.
intercept
lengths

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	•	If the geometry of the mineralisation with	True width and orientation of intersected
		respect to the drill hole angle is known, its	mineralisation is currently unknown.
		nature should be reported.
			A list of the drillholes and orientations are reported
	•	If it is not known and only the down hole	with significant intercepts is provided as an appended
		lengths are reported, there should be a	table.
		clear statement to this effect (eg ‘down
		hole length, true width not known’).
Diagrams	•	Appropriate maps and sections (with	Refer to figures in announcement.
		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.
Balanced	•	Where comprehensive reporting of all	It is not practical to report all exploration results. Low
reporting		Exploration Results is not practicable,	or non-material grades have not been reported.
		representative reporting of both low and
		high grades and/or widths should be	All drill hole locations are reported and a table of
		practiced to avoid misleading reporting of	significant intervals is provided in the announcement.
		Exploration Results.
Other	•	Other exploration data, if meaningful and	In late 2015 Gold Road drilled and assayed an RC drill
substantive		material, should be reported including	hole on the edge of an EM anomaly identified from an
exploration		(but not limited to): geological	airborne XTEM survey, identifying copper-nickel-
data		observations; geophysical survey results;	cobalt mineralisation. Great Boulder subsequently
		geochemical survey results; bulk samples	re-assayed the hole and confirmed primary bedrock
		– size and method of treatment;	sulphide mineralisation, with peak assay results of
		metallurgical test results; bulk density,	1.7% Cu, 0.2% Ni, 528ppm Co (over 1m intervals) over
		groundwater, geotechnical and rock	two distinct lenses.
		characteristics; potential deleterious or
		contaminating substances.	Great Boulder completed a ground based moving
			loop EM survey in September 2017 and reported
			extensive strong EM conductors and co-incident
			copper-nickel mineralisation from aircore
			geochemistry (refer to announcement dated 5
			October 2017).
			Great Boulder has also recently undertaken RC and
			DD exploratory drilling with down hole EM surveys.
Further work	•	The nature and scale of planned further	Potential work across the project may include
		work (eg tests for lateral extensions or	detailed additional geological mapping and surface
		depth extensions or large-scale step-out	sampling, additional geophysical surveys (either
		drilling).	surface or downhole), and potentially additional
			confirmatory or exploratory 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.