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INFINITY MINING LIMITED Capital/Financing Update 2025

Jun 25, 2025

65121_rns_2025-06-25_39747423-756b-425a-b13d-0c85dcaf2951.pdf

Capital/Financing Update

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New Gold Target emerges within the
Cangai Copper Project, NSW
26 June 2025
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  • New gold target defined at Cangai: The Sir Walter Scott Gold prospect lies ~3 km south of the historical Cangai Copper Mine and hosts 12 historical rock chip gold assays over 1 g/t Au, from a total of 32 samples.

  • Significant Historical Gold Production at Sir Walter Scott: Mined in the 1890s, Sir Walter Scott produced 1,790 oz Au from 2,203 tonnes of ore at an average grade of ~25 g/t Au.[1]

  • LiDAR interpretation shows multiple old workings at Sir Walter Scott: A recent LiDAR interpretation over the Cangai Project area has revealed numerous historical gold workings around the Sir Walter Scott gold prospect, along a 500 m section of a NW structure.

  • John Bull Gold Project (Novo Resources) located ~3 km to NW: Novo Resources John Bull Gold Project is located ~ 3 km along strike further to the NW, and has recently reported anomalous rock chip samples and drill hole intercepts containing gold.[2][3]

  • Multi-commodity approach at Cangai: The historical Cangai Copper Mine lies just 3 km north of the new Sir Walter Scott gold target. The Cangai Copper mine produced 4,950 tonnes Cu, 52.7 kg Au, and 1,035 kg Ag from 76,940 tonnes of ore[1] . The multi-commodity Copper-Gold-Silver characteristics of Cangai adds strength and diversity to the project.

  • Field Program Commencing Q3 2025: Infinity's technical team will begin mapping and surface geochemical sampling at the new Sir Walter Scott gold target in the coming months.

1McQueen, K. (2019) “Cangai copper: History of 'a good little earner'” - Journal of Australasian Mining History, Vol. 17. October 2019 2 ASX Release: NVO – 6 May 2025: “High Grade Gold Anomaly Extended At John Bull In Preparation For Drilling” 3 ASX Release: NVO – 13 December 2024: “Novo Strengthens Portfolio With Two High-Grade Gold Projects in NSW”. 4. ASX Release: TG1 – 16 December 2024: “John Bull Project Update”

ASX:IMI Infinity Mining Limited Level 1, 470 St Pauls Terrace, Fortitude Valley, QLD Australia 4006

www.infinitymining.com.au

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Infinity Mining Limited (ASX: IMI ) (“ Infinity ” or “the Company ”) is pleased to announce that a new gold target area has been defined at the Cangai Project in northern NSW on ELs 8625 and 8635 as a result of ongoing re-interpretation work and historical data compilation, see Figure 1 . The new gold target area includes the historical Sir Walter Scott Gold Mine, which lies ~3km south of the Cangai Copper Mine (see Figure 2 ). This gold target lies ~3 km along strike to the SE of the John Bull Gold Project, owned by Novo Resources (ASX: NVO) and TechGen Metals (ASX: TG1).[4 ]

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Figure 1: Location of the Cangai Project, northern NSW

Managing Director, Joe Phillips commented:

“The delineation of a new gold target at the Cangai Project from our recent work with potential for high-grade gold mineralisation adds more strength to our NSW portfolio. With gold prices at record highs, our planned field program will systematically assess the gold potential at Cangai, while we continue to further explore our high-grade copper system immediately to the north, at the old Cangai Copper Mine. Having both Copper and Gold targets at Cangai adds value to our portfolio.”

ASX:IMI Infinity Mining Limited Level 1, 470 St Pauls Terrace, Fortitude Valley, QLD Australia 4006

www.infinitymining.com.au

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Figure 2: Historic Mines, Mineral Occurrences and NSW Geology within the Cangai Project, NSW.

Sir Walter Scott Gold Target

The Sir Walter Scott Gold prospect is located ~3 km south of the Cangai Copper Mine on Infinity’s ELs 8625 and 8635 (see Figure 2 ). Sir Walter Scott was discovered in 1872 and during the late 1800s, it produced 1,790 oz Au (55.68 kg) from 2,203 tonnes of ore at an average grade of ~25 g/t Au, as quoted by McQueen (University of Canberra)[1] . Gold is reported to occur in quartz-sulphide veins, hosted in steeply dipping chloritic shear zones, within the Carboniferous Gundahl Complex (greywackes, metasediments, cherts with minor limestone and basalts).

During the 1980s, Little River Goldfields and Key Resources undertook exploration work at the Sir Walter Scott Gold prospect, including rock chip sampling of the old workings, waste dumps and nearby outcrops. The historical rock chip sampling programs returned several high-grade gold assays up to 15.8 g/t Au along a NWtrending zone, approximately 500 m along strike (see Figure 3 ). The rock chip details are included in JORC Table 1 in Appendix 1 . A table of rock chip sample assay details is included in Appendix 2 . A total of 12 rock chip assays >1 g/t Au are reported around Sir Walter Scott from a total of 32 samples collected.

ASX:IMI Infinity Mining Limited Level 1, 470 St Pauls Terrace, Fortitude Valley, QLD Australia 4006

www.infinitymining.com.au

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Highlights from the historical rock chip assays (Key Resources Pty Ltd and Little River Goldfields NL) include:

  • 15.8 g/t Au in laminated quartz vein float 150 m NW of the workings.

  • 7.08 g/t Au in quartz veined chert around Sir Walter Scott shaft.

  • 1.1 g/t Au to 3.89 g/t Au results along a 500+ m strike zone around Sir Walter Scott.

Limited modern exploration has been conducted since the 1980s, presenting a compelling target for Infinity’s geology team to pursue further. From Infinity’s research and historical data compilation conducted to date, there appears to be no drilling, geophysics, or systematic exploration work since the 1980s. The area is underexplored and has not been subject to any modern exploration technologies.

Infinity believes the data at Sir Walter Scott supports the potential of an Intrusion Related Gold System (IRGS). An IRGS origin has also been postulated by Novo Resources for their nearby John Bull Gold Prospect along strike to the NW.[2 3 ]

LiDAR Interpretation

LiDAR specialists GeoCloud Analytics obtained the public domain 2023 LiDAR dataset from the NSW Government, in the central part of the Cangai Project, totaling 33km2, within ELs 8625 and 8635. The LiDAR ground point cloud data was reprocessed to yield a 50cm resolution bare earth Digital Terrane Model (DTM). Details of the survey are provided in the JORC Table 1, see Appendix 1 .

A number of new LiDAR images were generated by GeoCloud Analytics in order to extract more information. The enhanced 3D datasets and 2D images produced have facilitated detailed interpretations, allowing the identification of geological structures, historical mine workings, exploration trenches and old access tracks.

The LiDAR interpretation has mapped out a NW-trending cluster of shafts, pits and trenches over 500m+ strike length along a NW-trending structure, including the Sir Walter Scott and Beagley Gold prospects (see Figure 3 ). The NW-trending structures at Sir Walter Scott continue to the NW towards John Bull Gold prospect (Novo Resources), within a broad NW-trending structural corridor (see Figure 2 ).

ASX:IMI Infinity Mining Limited Level 1, 470 St Pauls Terrace, Fortitude Valley, QLD Australia 4006

www.infinitymining.com.au

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Figure 3: Enhanced LiDAR imagery with interpretation and historical rock chip assays (grams per tonne gold).

John Bull Gold (Novo Resources)

The John Bull Gold Project (Novo Resources), lies ~ 3 km to the NW of the Sir Walter Scott gold prospect within the interpreted NW-trending structural corridor that links the two gold prospects, see Figure 2 .

Novo Resources (ASX: NVO) has reported high-grade rock chip samples and significant drill hole gold intercepts[2 3] . For details on the recent John Bull drilling results, see Novo Resources’ 6 May 2025 and 13 December 2024 ASX Announcements, plus TechGen Metals ASX Announcement16 December 2024.

The anomalous gold exploration results at the nearby John Bull Gold prospect as reported by Novo Resources, sheds some light on Infinity’s Sir Walter Scott Gold prospect along strike, which has never been drill tested.

Cangai Copper Mine

Located just 3 km north of the Sir Walter Scott Gold Target, is the old Cangai copper mine. The Cangai Copper mine produced 4,950 tonnes Cu, 52.7 kg Au, and 1,035 kg Ag from 76,940 tonnes of ore[1] . Cangai was one of the highest-grade and most successful early 20th-century copper mines in NSW. The multicommodity Cu-Au-Ag characteristics of Cangai adds strength and diversity to the project.

ASX:IMI Infinity Mining Limited Level 1, 470 St Pauls Terrace, Fortitude Valley, QLD Australia 4006

www.infinitymining.com.au

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Next Steps

Infinity's technical team will undertake a field trip to Sir Walter Scott Gold Target area next quarter, to undertake geological mapping and surface geochemical sampling, in order to verify the historical rock chip results and define the next stages of exploration.

-ENDS-

The Board of Infinity Mining Ltd authorised this announcement to be lodged with the ASX.

For further information, please contact:

Infinity Mining Limited
Joe Phillips
Managing Director
E:[email protected]
Media & Investor Enquiries
NWR Communications
Melissa Tempra
E:[email protected]

ABOUT INFINITY MINING

Infinity Mining Limited holds a diverse portfolio of projects, spanning over 3,700 km² across highly prospective regions, including NSW's Macquarie Arc, Victoria's Melbourne Zone, and the East Pilbara and Central Goldfields in Western Australia. These tenements host potential high-grade resources, including copper, gold, and other base metals, alongside the Company’s existing focus on lithium. The flagship Cangai Copper Project, a historic high-grade copper mine with a JORCcompliant resource, offers near-term development potential. Infinity’s broader portfolio is strategically located near established mining operations, enhancing the economic viability and development timelines of its projects.

Competent Persons Statement

The information contained in this report that relates to the Exploration Results is based on information compiled by Dr Matthew White, who is a Member of the Australian Institute of Geoscientists. Dr White is a Geological Consultant for Infinity Mining and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he has undertaken to qualify as Competent Person as defined in the 2012 Edition of the Australasian JORC Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Dr White consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Caution Regarding Forward Looking Statements

Certain of the statements made and information contained in this press release may constitute forward-looking information and forward-looking statements (collectively, “forward-looking statements”) within the meaning of applicable securities laws. All statements herein, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future, including but not limited to statements regarding exploration results and Mineral Resource estimates or the eventual mining of any of the projects, are forward-looking statements. The forward-looking statements in this press release reflect the current expectations, assumptions or beliefs of the Company based upon information currently available to the Company. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements do not guarantee future performance, and no assurance can be given that these expectations will prove to be correct as actual results or developments may differ materially from those projected in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include but are not limited to: unforeseen technology changes that results in a reduction in copper, nickel or gold demand or substitution by other metals or materials; the discovery of new large low cost deposits of copper, nickel or gold; the general level of global economic activity; failure to proceed with exploration programs or determination of Mineral resources; inability to demonstrate economic viability of Mineral Resources; and failure to obtain mining approvals. Readers are cautioned not to place undue reliance on forwardlooking statements due to the inherent uncertainty thereof. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. The forward-looking statements contained in this press release are made as of the date of this press release and except as may otherwise be required pursuant to applicable laws, the Company does not assume any obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

ASX:IMI Infinity Mining Limited Level 1, 470 St Pauls Terrace, Fortitude Valley, QLD Australia 4006

www.infinitymining.com.au

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APPENDIX 1 - JORC Code, 2012 Edition - Table 1

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 (e.g. cut
channels,
random
chips,
or
specific
specialised industry standard measurement
tools appropriate to the minerals under
investigation, such as down hole gamma
sondes, or handheld XRF instruments, etc).
These examples should not be taken as
limiting the broad meaning of sampling.
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
(e.g. ‘reverse circulation drilling was used to
obtain 1 m samples from which 3 kg was
pulverised to produce a 30 g charge for fire
assay’). In other cases more explanation
may be required, such as where there is
coarse gold that has inherent sampling
problems.
Unusual
commodities
or
mineralisation
types
(e.g.
submarine
nodules) may warrant disclosure of detailed
information.
Historical Rock Chip Sampling
-
Rock
chip
sampling
was
undertaken by Key Resources Pty
Ltd
(1982)
and
Little
River
Goldfields NL (1983–1984).
-
Sample weights are not known.
-
Rock chip samples include surface
grab samples of quartz vein-
sulphide mineralisation and altered
shear zones and from historical
workings, mine dumps, outcrops
and float around the Sir Walter
Scott and Beagleys Gold prospect
areas on Infinity ELs 8625 and 8635.
-
LiDAR Survey
-
Infinity obtained the public domain
2023 LiDAR dataset from the NSW
Government, totaling 33km2 within
ELs 8625 and 8635
-
The LiDAR was acquired with a
RIEGL
VQ-1560II-S
sensor
by
Fugro.
-
The LiDAR ground point cloud data
was reprocessed to yield a 50cm
resolution bare earth DTM.
-
The LiDAR data was supplied in GDA2020
datum, UTM zone 56 coordinate system in
metres, Vertical Datum being Australian
Height Datum 1971 (AHD71), derived from
Ausgeoid2020
-
The LiDAR was checked by Fugro
against and tied to ground control
points
to
yield
a
horizontal
accuracy
of
0.4
m
at
68%
Confidence Interval, and vertical
accuracy
of
0.1
m
at
68%
Confidence Interval
-
The LiDAR was flown with a
minimum average density of 16
points per square metre with an
average flyingheight of 1495m AGL.
Drilling
techniques
Drill type (e.g. core, reverse circulation,
open-hole hammer, rotary air blast, auger,
Bangka, sonic, etc) and details (e.g. core
diameter, triple or standard tube, depth of
diamond tails, face-sampling bit or other
type, whether core is oriented and if so, by
_what method, etc). _

Not
applicable

no
drilling
undertaken.
Drill sample Method of recording and assessing core and
Not applicable.

ASX:IMI Infinity Mining Limited Level 1, 470 St Pauls Terrace, Fortitude Valley, QLD Australia 4006

www.infinitymining.com.au

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Criteria JORC Code explanation Commentary
recovery chip
sample
recoveries
and
results
assessed.
Measures
taken
to
maximise
sample
recovery and ensure representative nature of
the samples.
Whether a relationship exists between
sample recovery and grade and whether
sample bias may have occurred due to
preferential
loss/gain
of
fine/coarse
material.
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.
Historical Rock Chip Sampling
-
Basic
lithological
and
mineralogical observations were
recorded by Key Resources and
Little River Goldfields. Samples are
described as laminated quartz,
pyritic chert, or brecciated vein
material.
-
No mineral percentage estimates
were reported.
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 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.
Historical Rock Chip Sampling
-
No sample preparation details
were provided by Key Resources
and Little River Goldfields.
-
Samples were probably crushed
and pulverised prior to assay as per
industry standards.
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 (e.g. standards, blanks, duplicates,
external laboratory checks) and whether
acceptable levels of accuracy (i.e. lack of
bias) andprecision have been established.
Historical Rock Chip Sampling
-
Assaying of rock chips utilized AAS
and fire assay methods by Fox
Laboratories, SGS, and Daltron.
-
The lower detection limit is largely
~0.01 ppm Au.
-
No QA/QC samples are reported.
Verification of
sampling and
assaying
The verification of significant intersections by
either independent or alternative company
personnel.
Historical Rock Chip Sampling
-
No
known
resampling
or
independent
verification
is

ASX:IMI Infinity Mining Limited Level 1, 470 St Pauls Terrace, Fortitude Valley, QLD Australia 4006

www.infinitymining.com.au

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Criteria JORC Code explanation Commentary
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.
reported.
-
Results are as reported in the
original Annual Reports.
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.
Historical Rock Chip Sampling
-
Sample locations are shown on
historical mine plans within Annual
Reports.
-
Sample
locations
were
georeferenced by the NSW Govt.
-
The geochemical spatial database
is available for download.
-
The
data
are
referenced
in
GDA2020, UTM Zone 56S, AHD
vertical datum.
-
The
accuracy
of
the
sample
location points cannot be verified,
but is expected to be within 50 m.
LiDAR Survey
-
The LiDAR covered an area of
33km2 (ELs 8625 and 8635).
-
The LiDAR ground point cloud data
was reprocessed to yield a 50cm
resolution bare earth DTM.
-
The LiDAR was checked by Fugro
against and tied to ground control
points
to
yield
a
horizontal
accuracy
of
0.4
m
at
68%
Confidence Interval, and vertical
accuracy
of
0.1
m
at
68%
Confidence Interval.
-
The LiDAR was flown with a
minimum average density of 16
points per square metre with an
average flying height of 1495m AGL.
-
LiDAR
features
digitized
by
GeoCloud
Analytics
include
interpreted workings, structural
lineaments, and trenches across a
33 km² area, centered on the
Cangai and Sir Walter Scott mines.
Data spacing
and
distribution
Data spacing for reporting of 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.
Historical Rock Chip Sampling
-
Rock chip grab samples were taken
from accessible old workings,
surface outcrops or float, and are
not systematic.
LiDAR Survey
-
Processing to derive a 50cm
resolution DTM.
-
Reprocessing of LiDAR to enhance
and extract ground model detail.
-
Ground model DTM at 50cm

ASX:IMI Infinity Mining Limited Level 1, 470 St Pauls Terrace, Fortitude Valley, QLD Australia 4006

www.infinitymining.com.au

==> picture [596 x 78] intentionally omitted <==

Criteria JORC Code explanation Commentary
resolution in GeoTiff format
-
Ground model hillshade at 50cm
resolution in GeoTiff format.
-
Reprocessed
and
enhanced
hillshade at 50cm resolution in
GeoTiff format.
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.
Historical Rock Chip Samples
-
The orientation of mineralised
structures
has
not
yet
been
defined.
-
Samples were taken roughly along
the interpreted shear zone (NW
strike).
LiDAR Survey
-
LiDAR data represents the surface
area of the region surveyed, with
XYZ
data
reported
across
topography of the survey region.
-
LiDAR survey area was completely
independent of mineralisation or
structural
style
and
therefore
considered to be unbiased.
Sample
security
The measures taken to ensure sample
security.
Historical Rock Chip Samples
-
Sample security was not reported.
LiDAR Survey
-
LiDAR data was obtained from the
NSW Government, and derived
products accessed only by Infinity
Representatives
and
GeoCloud
Analytics.
Audits or
reviews
The results of any audits or reviews of
sampling techniques and data.
Historical Rock Chip Samples
-
Assays were extracted from open
file
Annual
reports
and
the
geochemical databases provided
by the NSW Geological Survey.
-
No audits or reviews of the
sampling techniques and data were
undertaken.
LiDAR Survey
-
The LiDAR was checked by Fugro
against and tied to ground control
points
to
yield
a
horizontal
accuracy
of
0.4
m
at
68%
Confidence Interval, and vertical
accuracy
of
0.1
m
at
68%
Confidence Interval.

ASX:IMI Infinity Mining Limited Level 1, 470 St Pauls Terrace, Fortitude Valley, QLD Australia 4006

www.infinitymining.com.au

==> picture [596 x 78] intentionally omitted <==

Section 2 - Reporting of Exploration Results

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

Criteria JORC Code explanation Commentary
Mineral
tenement
and 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 tenure held at the time of
reporting along with any known impediments to
obtaining a licence to operate in the area.

The Cangai project includes ELs
8601, 8625 and 8635.

The tenements are held by Infinity
Mining Limited and are in good
standing.

The Sir Walter Scott and Cangai
prospect areas fall under Infinity
Mining’s EL8625 and EL8635

Historical rock chip samples were
collected
from
previous
ELs
including
EL1664,
(Key
Resources), EL1787 & EL1903
(Little River Resources).
Exploration
done by other
parties
Acknowledgment and appraisal of exploration
by other parties.

Previous exploration around Sir
Walter Scott includes surface
exploration programs by the
following companies.
-
North Broken Hill (1969).
-
Key Resources Pty Ltd (1982).
-
Little River Goldfields NL (1983–
1984).
-
M I Howell (1986)
-
CRA Exploration (1991)
-
Kingsgate Minerals (1998).
-
L McClatchie (2016)
-
Castillo Copper (2018 to 2020).
-
No drilling at Sir Walter Scott is
known.
Geology Deposit type, geological setting and style of
mineralisation.

Historical reports on the Sir
Walter Scott Gold workings report
the following.
-
Quartz-sulphide
vein
system
hosted in steeply dipping chloritic
shear
zones
within
the
Carboniferous Gundahl Complex
(greywackes,
metasediments,
cherts with minor limestone and
basalts).
-
Mineralisation
is
structurally
controlled and associated with
quartz-sulphides including pyrite,
arsenopyrite
±
chalcopyrite,
sphalerite.
-
Infinity believes the data at Sir
Walter
Scott
supports
the
potential of an Intrusion Related
Gold System(IRGS).

ASX:IMI Infinity Mining Limited Level 1, 470 St Pauls Terrace, Fortitude Valley, QLD Australia 4006

www.infinitymining.com.au

==> picture [596 x 78] intentionally omitted <==

Criteria JORC Code explanation Commentary
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.

Not applicable.
Data
aggregation
methods
In reporting Exploration Results, weighting
averaging
techniques,
maximum
and/or
minimum grade truncations (e.g. cutting of high
grades) and cut-off grades are usually Material
and should be stated.
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.

Not applicable.

Single assay values are presented
for each sample.
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 (e.g. ‘down hole length, true width
_not known’). _

Rock chip samples were taken
from
old
workings,
surface
outcrop and float and are not
representative of the entire body
of mineralisation.
Diagrams Appropriate maps and sections (with scales)
and tabulations of intercepts should be
included for any significant discovery being
reported These should include, but not be
limited to a plan view of drill hole collar
locations and appropriate sectional views.

See diagrams in body of 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.

Only rock chip samples ≥1 g/t Au
are shown on Figure 3.

Lower-grade samples are not
included on the diagrams but are
included in the assay table in the
Appendices.

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Criteria JORC Code explanation Commentary
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.

There are no other exploration
datasets that are considered to
be
material
to
the
results
reported herein.

For exploration details by Key
Resources
and
Little
River
Goldfield,
refer
to
reports
GS1982/131,
GS1982/381,
GS1982/384, and GS1982/385 for
more
detailed
geochemical
plans, sample logs, geological
mapping,
and
structural
measurements etc.
Further work The nature and scale of planned further work
(e.g. tests for lateral extensions or depth
extensions or large-scale step-out drilling).
Diagrams clearly highlighting the areas of
possible extensions, including the main
geological interpretations and future drilling
areas, provided this information is not
commercially sensitive.

Geological mapping and surface
geochemical surveys are planned
to verify the historical rock chip
results.

Geophysical (e.g. IP or magnetics)
will be considered to define drill
targets beneath any geochemical
anomalies.

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APPENDIX 2 – Sir Walter Scott Historical Rock Chip Sample Details and Gold Assays

Sample Company EL DIGS Report Report Date East
GDA2020_z56
North
GDA2020_z56
Elevation Au g/t Description
11574 Key Resources EL1662 R00014980 3/01/1982 450493 6731715 227 1.15 NA
11579 Key Resources EL1662 R00014980 3/01/1982 450493 6731713 227 0.39 NA
11040 Key Resources EL1664 R00010781 3/01/1982 450483 6731717 227 0.05 NA
NR122 Key Resources EL1664 R00010781 3/01/1982 450504 6731687 227 7.08 Quartz-Veined Chert
NR123 Key Resources EL1664 R00010781 3/01/1982 450504 6731687 227 0.21 Highly sheared soft silstone
with Siliceous bands, minor
sulphide boxwork
NR124 Key Resources EL1664 R00010781 3/01/1982 450504 6731687 227 0.10 Moderately Sheared
Siltstone/tuff and Chert
NR125 Key Resources EL1664 R00010781 3/01/1982 450504 6731687 227 0.03 Grey Chert
NR126 Key Resources EL1664 R00010781 3/01/1982 450504 6731687 227 2.30 Silicified fractured siltstone
with chert bands, fine quartz
veining showing sulphide
boxwork
NR127 Key Resources EL1664 R00010781 3/01/1982 450504 6731687 227 0.20 Silicified Siltstone and Chert
NR134 Key Resources EL1664 R00010781 3/01/1982 450504 6731687 227 0.20 NA
NR137 Key Resources EL1664 R00010781 3/01/1982 450504 6731687 227 0.10 Sheared Chert with Sulphide
boxwork
NR138 Key Resources EL1664 R00010781 3/01/1982 450504 6731687 227 0.20 Silicified Siltstone and Chert
SWS1 Key Resources EL1664 R00010784 1/07/1982 450122 6731904 226 2.87 NA
SWS2 Key Resources EL1664 R00010784 1/07/1982 450108 6731909 227 0.20 NA
SWS3 Key Resources EL1664 R00010784 1/07/1982 450492 6731808 218 2.31 NA
SWS4 Key Resources EL1664 R00010784 1/07/1982 450085 6731925 230 0.09 NA
SWS5 Key Resources EL1664 R00010784 1/07/1982 450169 6731880 215 3.89 NA
WS 1 Key Resources EL1664 R00010782 3/07/1982 450509 6731668 227 0.06 Arenite
WS 2 Key Resources EL1664 R00010782 3/07/1982 450434 6731715 215 0.06 Arenite
WS 4 Key Resources EL1664 R00010782 3/07/1982 450541 6731694 235 0.40 Arenite
WS 9 Key Resources EL1664 R00010782 3/07/1982 450485 6731694 227 0.90 NA
WS-20 Little River Goldfields ELs 1787, 1903 R00014885 15/02/1983 450401 6731774 215 15.80 Laminated Quartz

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WS-21 Little River Goldfields ELs 1787, 1903 R00014885 15/02/1983 450308 6731635 201 1.60 Pyritic Chert
WS-22 Little River Goldfields ELs 1787, 1903 R00014885 15/02/1983 450301 6731896 169 0.20 Pyritic Chert
WS-28 Little River Goldfields ELs 1787, 1903 R00014885 15/02/1983 450301 6731896 169 1.10 Banded Quartz (tunnel)
WS-29 Little River Goldfields ELs 1787, 1903 R00014885 15/02/1983 450301 6731896 169 2.10 Banded Quartz
WS-31 Little River Goldfields ELs 1787, 1903 R00014885 15/02/1983 450301 6731896 169 0.50 Banded Quartz
WS-32 Little River Goldfields ELs 1787, 1903 R00014885 15/02/1983 450301 6731896 169 0.20 Banded Quartz
WS-33 Little River Goldfields ELs 1787, 1903 R00014885 15/02/1983 450301 6731896 169 0.30 Banded Quartz
WS-35 Little River Goldfields ELs 1787, 1903 R00014885 15/02/1983 450301 6731896 169 2.50 Banded Quartz
WS-36 Little River Goldfields ELs 1787, 1903 R00014885 15/02/1983 450301 6731896 169 0.70 Pyritic Chert
WS-40 Little River Goldfields ELs 1787, 1903 R00014885 15/02/1983 450061 6732114 169 1.70 Pyritic Chert

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