HAWK RESOURCES LIMITED. — Capital/Financing Update 2021

May 10, 2021

ASX ANNOUNCEMENT 11 May 2021

Alderan’s Ground Magnetics and Rock Sampling Highlights Multiple Copper and Gold Targets at Detroit

HIGHLIGHTS

• Ground magnetics over Alderan’s Detroit Project in Utah identifies multiple targets which are potential indicators of copper and gold deposits

• Several targets, including the Basin Complex and Copperhead, have associated highly anomalous gold and copper in BLEG stream sampling

• Alderan rock samples at Copperhead returned grades up to 9g/t gold and 3.2% copper

• Grid soil sampling and an IP geophysical survey underway to assist in drill site selection

• Alderan plans to commence drilling at Detroit Project in Q3 CY2021.

Alderan Resources Limited (ASX:AL8) ( Alderan or the Company ) is pleased to provide the results from a high resolution ground magnetic geophysical survey and rock chip sampling completed over the Detroit Project, located in the Drum Mountains region of western Utah, USA, which has highlighted several new gold and copper targets.

Alderan recently consolidated its exploration area at Detroit to cover 24.7km[2] through a series of agreements with tenement owners[1] . This consolidation provides the Company with the opportunity to conduct the first ever modern exploration over the entire Detroit mining district.

Commenting on the results, Alderan Managing Director Scott Caithness said:

“Alderan’s ground magnetics and rock chip sampling at Detroit supports the earlier BLEG stream sediment results and past rock sample results and reinforces our confidence that the project has excellent potential for a buried copper, gold and molybdenum rich porphyry deposit plus skarn and carbonate replacement copper and gold deposits related to intrusives and structures.”

“Grid soil sampling and induced polarisation geophysical surveys are already underway to clearly define targets with drill testing planned to commence during the third quarter.”

Detroit Project

The Detroit Project lies within the Detroit Mining District, approximately 175km southwest of Salt Lake City in Utah, and contains numerous historical copper, gold and manganese mines. The district has been explored for copper and gold in the past by majors such as Anaconda Copper, Kennecott, Newmont, BHP and FreeportMcMoRan but no one company was able to build a significant contiguous land position to enable district-wide modern exploration. The United States Geological Survey ( USGS ) has also explored the area, sampling extensive mineralised jasperoids.

1 Refer ASX Announcement dated 11 February 2021.

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ASX ANNOUNCEMENT 11 May 2021

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Figure 1 : Alderan Resources project locations in western Utah.

Following consolidation of the project area, Alderan compiled past exploration data and completed stream sediment sampling. This followed its earlier drill program of seven holes at the Mizpah prospect[2] . The results from this work suggest potential for significant copper and gold mineralisation.

Ground Magnetic Survey

Alderan completed a high resolution ground magnetic survey over the central portion of the Detroit project area. The objective of the survey was to help identify concealed intrusive bodies and structures which have potential to control and/or host significant copper and gold mineralisation. The survey area and geology is shown in Figure 2.

Contractor Magee Geophysical Services acquired a total of 194.6 line kilometres of magnetic data along east-west lines spaced 50m apart using Geometrics G-858 caesium vapour magnetometers. This data was merged with 43.9km of existing data also acquired by Magee in June 2020.

The magnetic data was reduced to pole and then processed to derivative

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Figure 2: Detroit project geology showing area of ground magnetic survey and rock sample locations.

2 Refer ASX Announcement dated 22 February 2021.

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ASX ANNOUNCEMENT 11 May 2021

products. It was also inverted using the Geosoft VOXI platform to assess the depth potential of anomalies.

The reduced to pole magnetic image in Figure 3 highlights several significant magnetic features, including the prominent Basin Complex, Copperhead and Joy Fault in the north.

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Figure 3: Reduced to pole magnetic image highlighting the Basin Complex and Copperhead anomalies plus the east-west Joy Fault zone in the north.

Basin Complex

The Basin Complex is approximately 1.5km in diameter and consists of a central magnetic high, wrapped by a magnetic low zone which is in turn surrounded on the western side by an arcuate magnetic high zone. The Complex consists of a number of magnetic highs and lower responses within the outer arcuate magnetic zone which are interpreted to be caused by fresh and altered hornblende diorite intrusive bodies respectively and the prominent central magnetic high which is concealed under recent cover.

The Basin Complex is a high priority target as it conforms to a classic porphyry model with the inner magnetic anomaly being a potential copper-gold mineralised potassic altered core which is surrounded by an outer non-magnetic zone of propylitic alteration. Stream sediment sampling completed by Alderan in March 2020[3] supports this model with high order copper in catchments draining the anomaly area to both the north and south (see Figures 6 & 7 below).

3 Refer ASX Announcement 8 March 2021.

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ASX ANNOUNCEMENT 11 May 2021

Analysis of 3D magnetic susceptibility inversion modelling (magnetic susceptibility >0.03 SI units cutoff) carried out on the Basin Complex supports it being caused by a multi-phase intrusive complex consistent with mapped geology. The top of the interpreted potassic zone lies 100m below surface and is approximately 450m long and 250m wide. Its shape is irregular as it extends to a depth of more than 800m. It represents a high priority target for drill testing.

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Potential Cu-Au
mineralised
potassic core
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Figure 4 : 3D magnetic susceptibility inversion model (>0.03 SI) of the Basin Complex below topography. Northwest view.

Copperhead

The Copperhead prospect is highlighted by a discrete magnetic anomaly supported by high-grade gold and copper in rock samples and highly anomalous stream sediment assays in catchments draining the area.

It is one of many historical copper and gold mines in the Detroit mining district (others include Ibex, Martha, Mizpah and Drum). These old mines can be associated with structure and low amplitude magnetic anomalies that are interpreted to represent altered intrusives or skarns. 3D magnetic susceptibility inversion modelling (>0.03 SI units cutoff) suggests that the Copperhead anomaly is due to a structurally controlled skarn body.

Figure 5: 3D magnetic susceptibility inversion model (>0.03 SI) of the Copperhead anomaly below topography. Southwest view.

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ASX ANNOUNCEMENT 11 May 2021

Joy Fault

The Joy Fault is a strongly developed east-west structure with evidence of mineralisation from historical exploration. It defines the contact between magnetically active Middle Tertiary igneous rocks to the north and non-magnetic Paleozoic sediments to the south. Gold-bearing jasperoids occur over a distance of approximately 1.4km along the fault. Some modern exploration and mining activity (Clara B open cut) has been carried out on the jasperoids; however this work has not tested the full thickness of potentially favourable stratigraphy.

Rock Sampling

Alderan has received multi-element assay results for 197 rock samples collected throughout the Detroit project area. The sampling focused around old mine workings and within recently acquired option tenements. Grades range from <0.01 - 9.08 g/t gold and 1.0 - 32,100ppm (3.21%) copper with 27 samples assaying >1g/t gold and 17 samples assaying >0.5% Cu. The sampling indicates that high gold and copper grades remain in dump samples and jasperoid outcrops in and around the old mining areas which surround the Basin Complex.

The Copperhead mine stands out. A total of 24 rock samples were collected from dump and mine walls, eight of which grade greater than 2g/t gold and six grades greater than 1% copper. The highest grades of both gold and copper in the entire sampling programme come from Copperhead. These rock sample results validate Alderan’s stream sampling where catchments draining Copperhead have highly anomalous copper and gold.

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Figure 6: Detroit copper in BLEG stream sediment sample results and rock chip samples highlighting rocks grading greater than 1% copper.

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ASX ANNOUNCEMENT 11 May 2021

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Figure 7: Detroit gold in BLEG stream sediment sample results and rock chip samples highlighting rocks grading greater than 2g/t gold.

Historical Drilling

Limited and focused historical drilling was completed in and around the Basin Complex, mostly in the 1960’s and 1980’s, with its early focus on a shallow, thin, low-grade chalcocite coppermolybdenum deposit off the eastern margin of the interpreted potassic core zone and in the 1980s on the Mizpah copper-gold prospect to the southeast.

Drilling data available on the chalcocite deposit is incomplete, with data obtained indicating that the holes were generally shallow (less than 100m) and assaying incomplete. Alderan’s drilling in 2020 included one hole, DD20M-003, which targeted the interpreted potassic core. Tenement boundaries at the time restricted where this hole could be drilled and the current ground magnetic data defining the Basin Complex was not available. DD20M-003 is believed to have stopped short of the interpreted potassic core based on the 3D magnetic inversion modelling completed.

Figure 8: Detroit: Reduced to pole magnetic image showing historical drill holes

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ASX ANNOUNCEMENT 11 May 2021

Next Steps

Grid soil sampling and an induced polarisation geophysical survey are underway. The soils are collected every 50m on 200m spaced east-west lines. The results of this work are expected to refine individual prospect areas and optimise drill target selection, with drilling planned to commence in the third quarter of CY2021.

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ENDS

This announcement was authorised for release by the Board of Alderan Resources Limited.

ALDERAN RESOURCES LIMITED ABN: 55 165 079 201 Suite 23, 513 Hay Street, Subiaco, 6008, WA www.alderanresources.com.au

For further information: e: info@alderanresources.com.au

p: +61 8 6143 6711 Scott Caithness Managing Director scott@alderanresources.com.au

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ASX ANNOUNCEMENT 11 May 2021

Competent Persons Statement

The information contained in this announcement that relates to new exploration results is based, and fairly represents, information and supporting information compiled by Dr Marat Abzalov, who is a Fellow of the Australian Institute of Mining and Metallurgy. Dr Abzalov is a consultant to Alderan and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Dr Abzalov consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

The information in this announcement that relates to previous exploration results were reported by the Company in accordance with listing rule 5.7 on 8 March 2021 and 22 February 2021. The Company confirms it is not aware of any new information or data that materially affects the information included in the previous announcement.

The exploration results in this announcement are the result of a high resolution ground magnetic geophysical survey and rock chip sampling. No drilling was undertaken. Accordingly, this announcement does not include the information relating to material drill-holes required by listing rule 5.7.2.

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ASX ANNOUNCEMENT 11 May 2021

Appendix 1: Sample Results

The current announcement is based on 193 geochemical samples which detailed reporting is considered impractical and therefore a balanced reporting was used. The geochemical samples are summarised, and assayed grade is presented on the histograms of Au and Cu. Distribution of the data is shown on the maps.

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27 samples assaying >1g/t Au 17 samples assaying >0.5% Cu
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JORC Code, 2012 Edition – Table 1 Report

Section 1 - Sampling Techniques and Data

(Criterial in this section apply to all succeeding sections)

Criteria of JORC Code 2012	JORC Code (2012) explanation	Details of the Reported Project
Sampling techniques	Nature and quality of sampling (e.g. cut channels, random chips, or specific specialized 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.	Rock chip samples from the outcrops, road cuts and mine dumps. Samples submitted for assay typically weigh 1.0 - 2.7 kg, average 1.95 kg.
	Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.	Rock samples comprise multiple chips considered to be representative of the variety of rocks in outcrop.
	Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may	Samples were taken as a part of a routine prospecting and geological due diligence of the property and was not intent for Mineral Resource estimation purposes. The used sampling procedure is a standard work universally used in the industry at the early stages of exploration and prospecting. The obtained data are classified as exploration information, however, cannot be used for quantitative evaluations of the mineral properties.

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warrant disclosure of detailed
information.
Drilling Drill type (e.g. core, reverse N/A – no drilling completed. All historical drilling results referred to in this announcement were reported on the ASX on
techniques circulation, open-hole 22 February 2021.
hammer, rotary air blast,
auger, Bangka, sonic, etc) and
details (e.g. core diameter,
triple or standard tube, depth
of diamond tails, face-
sampling bit or other type,
whether core is oriented and if
so, by what method, etc).
Drill sample Method of recording and N/A – no drilling completed. All historical drilling results referred to in this announcement were reported on the ASX on
recovery assessing core and chip 22 February 2021.
sample recoveries and results
assessed.
Measures taken to maximise N/A – no drilling completed. All historical drilling results referred to in this announcement were reported on the ASX on
sample recovery and ensure 22 February 2021.
representative nature of the
samples.
Whether a relationship exists N/A – no drilling completed. All historical drilling results referred to in this announcement were reported on the ASX on
between sample recovery and 22 February 2021.
grade and whether sample
bias may have occurred due to
preferential loss/gain of
fine/coarse material.
Logging Whether core and chip Logging was based on visual field diagnostics of the rocks, textures and alteration styles.
samples have been It also includes definition of the sampled sites (old mine workings, dumps, outcrops, trenches).
geologically and
geotechnically logged to a
level of detail to support
appropriate Mineral Resource
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estimation, mining studies and
metallurgical studies.
Whether logging is qualitative Logging is qualitative. No photos of the outcrops and/or sampled sites were taken.
or quantitative in nature. Core
(or costean, channel, etc)
photography.
The total length and 100% of samples have been documented and geologically described.
percentage of the relevant
intersections logged.
Sub-sampling If core, whether cut or sawn The standard sampling procedure, referred as a grab sampling, was used. The procedure includes collecting the rock-
techniques and whether quarter, half or all chips from the outcrops.
and sample core taken
preparation
If non-core, whether riffled, Not applicable – non-core drilling was not used.
tube sampled, rotary split, etc
and whether sampled wet or
dry.
For all sample types, the The sample preparation was completed by ALS USA, at their Elko, Nevada, Laboratories. Sample preparation follows
nature, quality and the standard procedure of the ALS lab, representing the industry common practice.
appropriateness of the sample
preparation technique. Each sample was weighed, fine crushed to <2mm (70% pass) and split by a riffle splitter. The sample was then
pulverized up to 250g at 85% < 75um.
Quality control procedures Quality of the comminution was controlled by the sieving the crushed and pulverised samples. That check sieving was
adopted for all sub-sampling regularly applied and used with every batch of the samples.
stages to maximise
representivity of samples.
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	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.	Representativity of the samples was assured by collecting the rock chips from different parts of the outcrops.
	Whether sample sizes are appropriate to the grain size of the material being sampled.	Samples are 1.0 – 2.7kg (average 1.95 kg) (Refer figure A1). This size is commonly used in the industry for the rock- chip sampling outcrops at the prospecting stage. Figure A1_: Histogram of the received sample weights. _
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.	All samples were prepared using 4 acid digest technique and assayed by ICP-MS for 48 elements (ME-MS61 code of ALS). Hg content was analysed using ICP-MS technique (Hg-MS42). Content of gold was determined by analysing the 30 grams aliquotes using conventional Fire Assay technique with atomic absorption finish (Au-AA23 code of ALS). These are standard techniques commonly used for analysis of the gold mineralisation. 4 acid digest assures a most complete nature of the assayed results.

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For geophysical tools, N/A – none used.
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 All samples were subject to internal ALS Laboratories QC standards. Which included using blanks and the laboratory
procedures adopted (e.g. standards.
standards, blanks, duplicates,
external laboratory checks)
and whether acceptable levels
of accuracy (i.e. lack of bias)
and precision have been
established.
Verification of The verification of significant N/A – no drilling completed. All historical drilling results referred to in this announcement were reported on the ASX on
sampling and intersections by either 22 February 2021.
assaying independent or alternative
company personnel.
The use of twinned holes. N/A – no drilling completed.
Documentation of primary All field data is manually collected, entered into excel spreadsheets, validated and loaded into an Access database.
data, data entry procedures,
data verification, data storage
(physical and electronic)
protocols.
Discuss any adjustment to No adjustments made to the data.
assay data.
Location of Accuracy and quality of The samples were located using the hand-held GPS.
data points 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 All data are recorded in a UTM zone 12 (North) NAD83 grid.
system used.
Quality and adequacy of RL values obtained by GPS were routinely compared with the nominal elevation values that were deduced form the
topographic control. regional topographic datasets.
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Data spacing Data spacing for reporting of Sampling was sufficient for first pass reconnaissance rock chip sampling and geological mapping.
and Exploration Results.
distribution
Whether the data spacing and Samples were taken as a part of a routine prospecting and geological due diligence of the property and was not intent
distribution is sufficient to to be used for Mineral Resource estimation purposes.
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 Sampled material was not bulked and/or composited in any of the physical manners.
has been applied.
Orientation of Whether the orientation of Samples were collected from the mineralised outcrops. This is conventional approach used at the early stages of the
data in sampling achieves unbiased property assessment. The results are indicative of the mineralisation styles and allow to approximately assess the grade
relation to sampling of possible ranges but cannot be used for quantitative estimation of the endowment and cannot be used for any quantitative
geological structures and the extent to valuations of the properties.
structure which this is known,
considering the deposit type.
If the relationship between the Location of the samples relative to the geological structures produces unbiased sampling results.
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.
Sample The measures taken to ensure Unauthorised personnel did not approach the samples. All collected samples were safely kept by the field geologists
security sample security until it was handed over to the company personnel responsible for dispatching samples to the lab.
Audits or The results of any audits or The sampling results have been internally reviewed by the company personnel. No external reviews were undertaken
reviews reviews of sampling of these data.
techniques and data.
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Section 2 - Reporting of Exploration Results

(Criterial in this section apply to all succeeding sections)

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Criteria of JORC Code (2012) Details of the Reported Project
JORC Code explanation
2012
Mineral Type, reference Alderan has completed several strategic land deals as announced on the ASX on 11 February 2021 and now controls
tenement and name/number, location and 24.7 km2 over the most prospective portion of the Drum Mountains. Location of the property claims is shown on the Figure
land tenure ownership including A2.
status 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.
Figure A2 : Location of property claims
The security of the tenure held All claims are active and in a good standing.
at the time of reporting along
with any known impediments
to obtaining a licence to
operate in the area.
Exploration Acknowledgment and The Drum Mountains of west central Utah have long been a subject of mining and exploration for gold, copper, and
done by other appraisal of exploration by manganese, starting from 1800’s and continued until early 1900’s. This was followed by renewed interest in beryllium,
parties (2.2) other parties. gold, manganese, and uranium in the past 20 years.
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Gold and copper were discovered in the Drum Mountains in 1872, and from 1904 to 1917, gold, silver, and copper was
produced from siliceous replacement fissure deposits in jasperoids, limestone and dolomite, for a total value of about
$46,000.
Exploration for gold and base metals intermittently continued through the entire 20’s century. In particular, since early
1960’s, when jasperoids similar to that commonly found in highly productive gold mining districts have been identified in
the Drum Mountains of Utah, the specialised studies of the jasperoids have been undertaken by USGS and the different
mining companies. Sampling of these rocks commonly reveals anomalous concentrations of gold.
Geology Deposit type, geological The focus of Alderan’s exploration efforts at Detroit is to discover a Carlin-like gold deposit. Key feature of Carlin-like
setting and style of deposits include:
mineralisation. a) Favourable permeable reactive rocks (silty limestones and limey siltstones)
b) Favourable structures often coincident with mineral-related intrusive
c) Gold-bearing hydrothermal solutions
d) Micron-sized gold in fine-grained disseminated pyrite
e) Common geochemical indicators As, Sb, Ba, Te, Se, Hg
f) Common argillization and jasperoids; fairly common decalcification.
Drill hole A summary of all information N/A – no drilling completed. Geochemical sampling results presented on the histograms of Au and Cu.
Information material to the understanding
of the exploration results
including a tabulation of the
following information for all
Material drill holes:
27 samples assaying >1g/t gold 17 samples assaying >0.5% Cu
Figure A3: Histograms of Au and Cu grades, geochemical sampling data
Easting and Northing of the N/A – no drilling completed. The reported exploration information includes rock chip samples collected mainly from the
drill hole collar. Elevation or RL outcrops and results of the ground magnetic survey.
(Reduced Level – elevation
above sea level in metres) of The geochemical sampling covers the area from 326,560 to 326,930 Easting and 4,379,150 to 4,379,620 Northing.
the drill hole collar.
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Dip and azimuth of the hole. N/A – no drilling completed. All historical drilling results referred to in this announcement were reported on the ASX on 22
February 2021.
Down hole length and N/A – no drilling completed. All historical drilling results referred to in this announcement were reported on the ASX on 22
interception depth and hole February 2021.
length.
If the exclusion of this N/A – no drilling completed. All historical drilling results referred to in this announcement were reported on the ASX on 22
information is justified on the February 2021. The reported exploration results are based on geochemical samples and geophysical survey.
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 N/A – data was not aggregated, and geochemical samples are reported without averaging and/or aggregation.
aggregation Results, weighting averaging
methods techniques, maximum and/or
minimum grade truncations
(e.g. cutting of high grades)
and cut-off grades are usually
Material and should be stated.
Where aggregate intercepts N/A – data was not aggregated, and geochemical samples are reported without averaging and/or aggregation.
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 N/A – metal equivalents not estimated.
reporting of metal equivalent
values should be clearly
stated.
Relationship These relationships are N/A – no drilling completed. The current announcement the reported exploration results does not contain estimates of the
between particularly important in the thicknesses and strike lengths of mineralisation. True width of mineralisation is not known.
mineralisation reporting of Exploration
widths and Results.
intercept
lengths If the geometry of the N/A – no drilling completed.
mineralisation with respect to
the drill hole angle is known, its
nature should be reported.
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	If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’).	N/A – no drilling completed. All historical drilling results referred to in this announcement were reported on the ASX on 22 February 2021.
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.	Maps and tables are presented in the text of the release.
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 new geochemical data is summarised as histograms and maps and presented using a balanced reporting approach at the Appendix 1.
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.	Other exploration data includes ground magnetic survey undertaken by Magee Geophysical Services. The following equipment and parameters have been used for the data acquisition:

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A value of 50,589nT was assigned to the base magnetometer location on June 16, 2020 .

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Acquired field data has been further processed using Geosoft Oasis Montaj software. The post-processing has included the several steps: 1. Gridded the IGRF-removed, diurnally corrected total field data at 15m grid cell size (minimum curvature).

2. Upward continued 10m as a presmoothing step before applying Fourier transforms and derivatives.

3. Reduced to pole parameters: a. Inclination = 64.5 degrees b. Declination = 11.3 degrees

4. Standard processing for first vertical derivative; and

5. 3D inversion was generated using the Geosift’s VOXI platform. No constraining criteria was applied.

Figure A4: Map showing distribution of the ground magnetic survey lines locations. Light red tracks – this survey, dark red tracks – 2020 data. Further work The nature and scale of Grid soil sampling and an induced polarisation geophysical survey are currently in progress (Figure A5). The soils are planned further work (e.g. tests collected every 50m on 200m spaced east-west lines. The results of this work are expected to refine individual prospect for lateral extensions or depth areas and optimise drill target selection with drilling planned to commence in the third quarter of 2021. extensions or large-scale stepout drilling).

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Diagrams clearly highlighting	Diagrams clearly highlighting	Geological
the areas of possible		map, showing
extensions, including the	main	location of		the
geological interpretations	and	follow		up
future drilling areas, provided		exploration	that
this information is	not	includes		IP
commercially sensitive.		survey	and
		geochemical
		sampling.

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Figure A5: Map depicting the areas proposed for the detailed IP survey and geochemical exploration, that have commenced after completion the ground magnetic survey and are currently in progress.

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