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IODM LIMITED Capital/Financing Update 2015

Apr 29, 2015

65131_rns_2015-04-29_06922539-d48d-4a99-8d1f-557fc3488722.pdf

Capital/Financing Update

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ASX release 30 April 2015 ASX: PDM

ABN 28 102 747 133

==> picture [121 x 41] intentionally omitted <==

DRILL RESULTS ON CANINDÉ GRAPHITE PROJECT, BRAZIL

Paradigm Metals Limited (“Paradigm” or “the Company”) is pleased to announce the assay results from the recently completed NQ diamond core drilling programme at the Pedra Preta target on the Canindé Graphite Project (“the Project”) located in Ceara State, Brazil.

The assay results confirm the continuation of mineralisation from near surface and open along strike and at depth. The Company views these results as forming a solid foundation from which the Company intends to complete further test and development work.

In commenting on the results, the Company’s Managing Director Mr Anthony Reilly stated “The Company is extremely encouraged by these intitial drilling results which confirm the presence of shallow high grade graphite layers and wide zones associated with disseminated graphite. The mineralisation is open at depth and along strike with potential for geophysics and further drilling to define a commercial scale resource.”

HIGHLIGHTS:

The Company is pleased to report that all drill holes encountered graphite mineralisation throughout the length of the holes with zones of varying width and commercial grade and highlights include:

  • Hole-01 As previously announced 2nd March 2015 the first drill hole reported an intersec-

  • tion of 13.69 metres grading 18.38% Cg from 3.09 metres.

  • Hole-01 9.73 metres grading 1.03% Cg from 18.02 metres, including 5.23 metres grading 1.44% Cg from 20.35 metres.

Hole-01 2.07 metres grading 4.06% Cg from 31.88 metres.

  • Hole-01 3.03 metres grading 1.53% Cg from 63.40 metres, including 1.50 metres grading 2.48% Cg from 63.40 metres.

  • Hole-02 6.50 metres grading 4.80% Cg from 0.00 metres, including 2.89 metres grading 9.73% Cg from 0.00 metres.

  • Hole-02 24.21 metres grading 1.76% Cg from 15.50 metres, including 7.50 metres grading 3.08% Cg from 15.50 metres.

Paradigm Metals (ASX:PDM ) - Drill Results on Canindé Graphite Project, Brazil

01 / 06

ASX release 30 April 2015 ASX: PDM

Hole-02 5.34 metres grading 2.94% Cg from 41.00 metres.

  • Hole-05 11.0 metres grading 1.72% Cg from 14.05 metres, including 4.07 metres at 2.89% from 18.50 metres.

  • Hole-06 2.04 metres grading 3.04% Cg from 14.92 metres, including 1.02 metres at 4.06% Cg.

Pedra Preta is one of twelve (12) graphite targets identified within the 15,614 hectare mineral property in which Paradigm has an agreement to acquire up to 80% of the project.

This initial drilling programme consisted of eight (8) short holes to depths between 20 metres and 102 metres (see Table 1).

Table 1 - Caninde Drillind Programme

==> picture [486 x 30] intentionally omitted <==

----- Start of picture text -----

HOLE AZIMUTH DIP DEPTH (m) UTM- EASTING NORTHING ELEVATION (m)
ZONE
----- End of picture text -----

HOLE AZIMUTH DIP DEPTH (m) UTM-
ZONE		 EASTING NORTHING ELEVATION (m)
CAN_PP_DDH_001_15 270 60 102.51 24M 455633 9494250 380.45
CAN_PP_DDH_002_15 270 60 90.55 24M 455696 9494230 406.00
CAN_PP_DDH_03_015 270 60 50.91 24M 455746 9494596 382.50
CAN_PP_DDH_04_015 270 60 81.03 24M 455577 9494201 381.60
CAN_PP_DDH_05_015 270 60 90.55 24M 455625 9494201 384.70
CAN_PP_DDH_006_15 270 60 20.10 24M 455633 9494275 379.45
CAN_PP_DDH_007_15 270 60 20.20 24M 455633 9494230 380.95
CAN_PP_DDH_008_15 270 60 20.05 24M 455633 9494251 380.45
TOTAL 475.90

These results do not include drill hole CAN-PP-DDH-08-15 which was drilled as a twin hole of CAN-PP-DDH-01-15 with the objective to provide enough material for future metallurgic testwork. Samples from this test hole have been submitted to SGS Geosol in Belo Horizonte for metallurgical and industrial testing to determine flake size and distribution. Results are expected in June 2015.

Paradigm Metals (ASX:PDM ) - Drill Results on Canindé Graphite Project, Brazil

02 / 06

ASX release 30 April 2015 ASX: PDM

Figure 1 – Plan View with Drill Holes and Main Intersection

==> picture [434 x 566] intentionally omitted <==

Paradigm Metals (ASX:PDM ) - Drill Results on Canindé Graphite Project, Brazil

03 / 06

ASX release 30 April 2015 ASX: PDM

SUMMARY OF RESULTS

Drill hole CAN-PP-DDH-01-15

13.69 metres As previously announced, the first drill hole reported a high grade intersection of grading 18.38% Cg from a massive graphite horizon close to the surface level.

The remaining downhole extension of this hole was mineralised throughout the length of the hole with several wide zones associated with disseminated graphite hosted on a biotite leucogneiss host rock, as indicated below:

  • 9.73 metres grading 1.03% Cg from 18.02 metres, including 5.23 metres grading 1.44% Cg from 20.35 metres.

2.07 metres grading 4.06% Cg from 31.88 metres.

  • 13.65 metres grading 0.58% Cg from 37.15 metres, including 6.05 metres grading 0.64% Cg from 40.25 metres.

  • 1.80 metres grading 1.57% Cg from 55.50 metres.

  • 3.03 metres grading 1.53% Cg from 63.40 metres, including 1.50 metres grading 2.48% Cg from 63.40 metres.

  • 4.50 metres grading 0.62% Cg from 71.01 metres.

  • And 7.54 metres grading 0.49% Cg from 92.22 metres.

Drill hole CAN-PP-DDH-02-15

Similar to the first drill hole also intersected high grade mineralisation near to the surface associated with a massive graphite layer and several other mineralised intervals associated with disseminated graphite zones.

  • 6.50 metres grading 4.80% Cg from 0.00 metres, including 2.89 metres grading 9.73% Cg from 0.00 metres (massive graphite layer).

  • 24.21 metres grading 1.76% Cg from 15.50 metres, including 7.50 metres grading 3.08% Cg from 15.50 metres.

  • 7.50 metres grading 1.52% Cg from 24.50 metres.

  • 6.21 metres grading 1.00% Cg from 33.50 metres.

5.34 metres grading 2.94% Cg from 41.00 metres.

  • 6.98 metres grading 0.55% Cg from 47.47 metres.

  • 10.03 metres grading 1.28% Cg from 64.34 metres, including 4.38 metres grading 2.14% Cg from 68.00 metres.

Paradigm Metals (ASX:PDM ) - Drill Results on Canindé Graphite Project, Brazil

04 / 06

ASX release 30 April 2015 ASX: PDM

Drill holes CAN-PP-DDH-03-15 AND CAN-PP-DDH-04-15

Both these holes encountered graphite mineralisation, however, as these holes are down dip from the other holes it appears that they were not of sufficient depth to adequately test the target. This result is consistent with the Company’s expectations.

Drill hole CAD-PP-DDH-05-15 intersected several zones of medium grade disseminated graphite, including

  • 11.0 metres grading 1.72% Cg from 14.05 metres, including 4.07 metres at 2.89% from 18.50 metres.

Drill hole CAD-PP-DDH-06-15 intersected a zone of medium grade graphite mineralisation at the end of the hole including

  • 2.04 metres grading 3.04% Cg from 14.92 metres including 1.02 metres at 4.06% Cg.

Drill hole CAD-PP-DDH-07-15 intersected mineralisation throughtout the core to end of hole at 20.20 metres.

Please refer to the table in appendix 1 for all assay results.

FUTURE EXPLORATION

The Company advises that it has completed petrophysics on core samples from the drilling programme with the aim of planning a ground geophysics survey. This survey will assist in defining extensions to the graphite mineralisation intersected in drilling, drill pad excavations and in trenches. This geophysical survey is planned to commence in the coming weeks which will guide future drilling decisions at Pedra Preta.

Based on the success of the drilling programme at Pedra Preta, the Company has decided to undertake further detailed mapping and sampling to identify new targets within the Caninde Graphite project area. This work is commencing during May 2015.

The Company is very pleased to announce that mineralisation remains open at depth and along strike.

THE BRAZILIAN GRAPHITE MARKET

The results of the current drilling indicate that the Company has a potential product which is consistent with that presently available in the Brazilian domestic market. It is the Company’s aim to define a commercial high value flake graphite deposit which can be marketed directly to domestic Brazilian manufacturers and off-takers.

Paradigm Metals (ASX:PDM ) - Drill Results on Canindé Graphite Project, Brazil

05 / 06

ASX release 30 April 2015 ASX: PDM

Brazil is the second largest producer of flake graphite in the world. It produces approximately 70,000tpa and the local market is dominated by Nacional de Grafite who has the capacity to produce approximately 60,000tpa from three mines in Minas Gerais. Nacional de Grafite’s major production is from the Pedra Azul mine at 6.5% to 7.0% Cg and from Salto da Divisa at 4.5% to 5.0% Cg.

There is an established and rapidly developing end user market for flake graphite in Brazil which includes world leading manufacturers for aircraft Embraer SA, and refractory products Magnesita Refratários S.A.

The Company has recently commenced a detailed review of the domestic end user market to confirm demand for flake graphite and identify potential off-take and industry partners.

The Company looks forward to updating investors on further developments as they come to hand.

Anthony Reilly Managing Director

Email: [email protected] Website: www.paradigmmetals.com.au

Competent Persons Statement

The technical information in this release is based on compiled and reviewed data by Mr. Paulo Brito. Mr. Brito is a consulting geologist for Paradigm Metals Limited and is a Member of AusIMM-The Minerals Institute, as well as, a Member of Australian Institute of Geoscientists. Mr. Brito has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which is being undertaken 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”. Mr. Brito consents to the inclusion in the report of the matters based on their information in the form and context in which it appears. Mr. Brito accepts responsibility for the accuracy of the statements disclosed in this release.

Level 1, 330 Churchill Avenue Subiaco WA 6008 Tel: +61 8 9200 4482 Fax: +61 8 9200 4469

Contact : Directors: Anthony Reilly Anthony Reilly Managing Director Nicholas Lindsay [email protected] Brian McMaster

Paradigm Metals (ASX:PDM ) - Drill Results on Canindé Graphite Project, Brazil

06 / 06

APPENDIX 1 - ASSAY RESULTS

Hole_Id
Sample_ID
From_m
To_m
Interval_m
Cg (%)
CAN-PP-DDH-001-15
CAN000001
0.00
1.05
1.05
0.90
CAN-PP-DDH-001-15
CAN000002
1.05
2.50
1.45
0.50
CAN-PP-DDH-001-15
CAN000003
2.50
3.09
0.59
0.61
CAN-PP-DDH-001-15
CAN000004
3.09
3.85
0.76
21.50
CAN-PP-DDH-001-15
CAN000006
3.85
4.77
0.92
11.51
CAN-PP-DDH-001-15
CAN000007
4.77
5.35
0.58
31.49
CAN-PP-DDH-001-15
CAN000008
5.35
6.38
1.03
27.30
CAN-PP-DDH-001-15
CAN000010
6.38
6.98
0.60
28.65
CAN-PP-DDH-001-15
CAN000011
6.98
8.46
1.48
0.55
CAN-PP-DDH-001-15
CAN000012
8.46
9.85
1.39
24.03
CAN-PP-DDH-001-15
CAN000013
9.85
11.35
1.50
17.76
CAN-PP-DDH-001-15
CAN000014
11.35
12.85
1.50
25.24
CAN-PP-DDH-001-15
CAN000016
12.85
14.35
1.50
24.96
CAN-PP-DDH-001-15
CAN000017
14.35
15.19
0.84
13.77
CAN-PP-DDH-001-15
CAN000018
15.19
16.25
1.06
3.06
CAN-PP-DDH-001-15
CAN000019
16.25
16.78
0.53
19.14
CAN-PP-DDH-001-15
CAN000020
16.78
17.54
0.76
1.54
CAN-PP-DDH-001-15
CAN000021
17.54
18.02
0.48
0.26
CAN-PP-DDH-001-15
CAN000022
18.02
18.85
0.83
0.62
CAN-PP-DDH-001-15
CAN000023
18.85
20.35
1.50
0.45
CAN-PP-DDH-001-15
CAN000024
20.35
21.85
1.50
1.23
CAN-PP-DDH-001-15
CAN000026
21.85
23.35
1.50
1.00
CAN-PP-DDH-001-15
CAN000027
23.35
24.90
1.55
0.56
CAN-PP-DDH-001-15
CAN000028
24.90
25.58
0.68
4.87
CAN-PP-DDH-001-15
CAN000029
25.58
26.86
1.28
0.65
CAN-PP-DDH-001-15
CAN000031
26.86
27.75
0.89
0.56
CAN-PP-DDH-001-15
CAN000032
27.75
29.25
1.50
0.36
CAN-PP-DDH-001-15
CAN000033
29.25
30.85
1.60
0.03
CAN-PP-DDH-001-15
CAN000034
30.85
31.88
1.03
0.03
CAN-PP-DDH-001-15
CAN000036
31.88
32.16
0.28
9.43
CAN-PP-DDH-001-15
CAN000037
32.16
33.95
1.79
3.22
CAN-PP-DDH-001-15
CAN000038
33.95
35.55
1.60
0.06
CAN-PP-DDH-001-15
CAN000039
35.55
37.15
1.60
0.03
CAN-PP-DDH-001-15
CAN000040
37.15
38.75
1.60
0.50
CAN-PP-DDH-001-15
CAN000041
38.75
40.25
1.50
0.57
CAN-PP-DDH-001-15
CAN000042
40.25
41.65
1.40
0.71
CAN-PP-DDH-001-15
CAN000043
41.65
43.20
1.55
0.44
CAN-PP-DDH-001-15
CAN000045
43.20
44.75
1.55
0.64
CAN-PP-DDH-001-15
CAN000046
44.75
46.30
1.55
0.78
CAN-PP-DDH-001-15
CAN000047
46.30
47.85
1.55
0.41
CAN-PP-DDH-001-15
CAN000048
47.85
49.30
1.45
0.47
CAN-PP-DDH-001-15
CAN000050
49.30
50.80
1.50
0.70
CAN-PP-DDH-001-15
CAN000051
50.80
52.05
1.25
0.24
CAN-PP-DDH-001-15
CAN000052
52.05
54.05
2.00
0.11
CAN-PP-DDH-001-15
CAN000053
54.05
55.50
1.45
0.27
CAN-PP-DDH-001-15
CAN000054
55.50
57.30
1.80
1.57
CAN-PP-DDH-001-15
CAN000056
57.30
59.30
2.00
0.31
CAN-PP-DDH-001-15
CAN000057
59.30
60.35
1.05
0.21
CAN-PP-DDH-001-15
CAN000058
60.35
61.92
1.57
0.21
CAN-PP-DDH-001-15
CAN000059
61.92
63.40
1.48
0.41
CAN-PP-DDH-001-15
CAN000060
63.40
64.90
1.50
2.48
CAN-PP-DDH-001-15
CAN000061
64.90
66.43
1.53
0.60
CAN-PP-DDH-001-15
CAN000062
66.43
67.85
1.42
0.43
CAN-PP-DDH-001-15
CAN000063
67.85
69.46
1.61
0.29
CAN-PP-DDH-001-15
CAN000064
69.46
71.01
1.55
0.28
CAN-PP-DDH-001-15
CAN000065
71.01
72.51
1.50
0.82
CAN-PP-DDH-001-15
CAN000067
72.51
74.13
1.62
0.54
CAN-PP-DDH-001-15
CAN000068
74.13
75.51
1.38
0.48
CAN-PP-DDH-001-15
CAN000069
75.51
76.80
1.29
0.03
CAN-PP-DDH-001-15
CAN000070
76.80
78.56
1.76
0.39
CAN-PP-DDH-001-15
CAN000071
78.56
79.78
1.22
0.39
CAN-PP-DDH-001-15
CAN000073
79.78
81.61
1.83
0.40		 Intersection
13.63m @ 18.38% Cg
(incl. 0.58m @ 31.49% Cg)
5.23m @ 1.44% Cg
(incl. 0.68m @ 4.87% Cg)
2.07m @ 4.06% Cg
(incl. [email protected]% Cg)
[email protected]% Cg
[email protected]% Cg
CAN-PP-DDH-001-15
CAN000074
81.61
82.71
1.10
0.40
CAN-PP-DDH-001-15
CAN000075
82.71
84.71
2.00
0.28
CAN-PP-DDH-001-15
CAN000076
84.71
86.22
1.51
0.27
CAN-PP-DDH-001-15
CAN000077
86.22
87.81
1.59
0.52
CAN-PP-DDH-001-15
CAN000079
87.81
89.25
1.44
0.07
CAN-PP-DDH-001-15
CAN000080
89.25
90.91
1.66
0.27
CAN-PP-DDH-001-15
CAN000081
90.91
92.22
1.31
0.15
CAN-PP-DDH-001-15
CAN000082
92.22
93.91
1.69
0.58
CAN-PP-DDH-001-15
CAN000083
93.91
95.23
1.32
0.30
CAN-PP-DDH-001-15
CAN000084
95.23
96.96
1.73
0.45
CAN-PP-DDH-001-15
CAN000085
96.96
97.90
0.94
0.47
CAN-PP-DDH-001-15
CAN000087
97.90
99.76
1.86
0.57
CAN-PP-DDH-001-15
CAN000088
99.76
100.45
0.69
0.03
CAN-PP-DDH-001-15
CAN000089
100.45
102.51
2.06
0.14
End of Hole
CAN-PP-DDH-002-15
CAN000090
0.00
1.35
1.35
4.77
CAN-PP-DDH-002-15
CAN000091
1.35
2.00
0.65
13.40
CAN-PP-DDH-002-15
CAN000093
2.00
2.89
0.89
14.58
CAN-PP-DDH-002-15
CAN000094
2.89
3.96
1.07
0.91
CAN-PP-DDH-002-15
CAN000095
3.96
4.87
0.91
0.68
CAN-PP-DDH-002-15
CAN000097
4.87
5.43
0.56
0.12
CAN-PP-DDH-002-15
CAN000098
5.43
6.50
1.07
1.32
CAN-PP-DDH-002-15
CAN000099
6.50
7.09
0.59
0.10
CAN-PP-DDH-002-15
CAN000100
7.09
8.12
1.03
0.58
CAN-PP-DDH-002-15
CAN000101
8.12
8.82
0.70
0.15
CAN-PP-DDH-002-15
CAN000102
8.82
9.50
0.68
0.03
CAN-PP-DDH-002-15
CAN000103
9.50
11.00
1.50
0.27
CAN-PP-DDH-002-15
CAN000104
11.00
12.50
1.50
0.31
CAN-PP-DDH-002-15
CAN000106
12.50
14.00
1.50
0.39
CAN-PP-DDH-002-15
CAN000107
14.00
15.50
1.50
0.52
CAN-PP-DDH-002-15
CAN000108
15.50
17.00
1.50
1.77
CAN-PP-DDH-002-15
CAN000109
17.00
17.84
0.84
1.30
CAN-PP-DDH-002-15
CAN000110
17.84
18.84
1.00
10.77
CAN-PP-DDH-002-15
CAN000112
18.84
20.00
1.16
2.31
CAN-PP-DDH-002-15
CAN000113
20.00
21.50
1.50
1.10
CAN-PP-DDH-002-15
CAN000114
21.50
23.00
1.50
2.85
CAN-PP-DDH-002-15
CAN000115
23.00
24.50
1.50
0.61
CAN-PP-DDH-002-15
CAN000116
24.50
26.00
1.50
1.13
CAN-PP-DDH-002-15
CAN000118
26.00
27.50
1.50
0.65
CAN-PP-DDH-002-15
CAN000119
27.50
29.00
1.50
1.94
CAN-PP-DDH-002-15
CAN000120
29.00
30.50
1.50
1.74
CAN-PP-DDH-002-15
CAN000121
30.50
32.00
1.50
2.15
CAN-PP-DDH-002-15
CAN000122
32.00
33.50
1.50
0.66
CAN-PP-DDH-002-15
CAN000123
33.50
35.00
1.50
1.38
CAN-PP-DDH-002-15
CAN000124
35.00
36.50
1.50
0.60
CAN-PP-DDH-002-15
CAN000126
36.50
38.00
1.50
0.78
CAN-PP-DDH-002-15
CAN000127
38.00
39.71
1.71
1.24
CAN-PP-DDH-002-15
CAN000128
39.71
40.40
0.69
0.16
CAN-PP-DDH-002-15
CAN000129
40.40
41.00
0.60
0.38
CAN-PP-DDH-002-15
CAN000131
41.00
42.35
1.35
6.81
CAN-PP-DDH-002-15
CAN000132
42.35
43.01
0.66
0.49
CAN-PP-DDH-002-15
CAN000133
43.01
43.49
0.48
0.95
CAN-PP-DDH-002-15
CAN000134
43.49
44.43
0.94
0.31
CAN-PP-DDH-002-15
CAN000135
44.43
45.20
0.77
0.94
CAN-PP-DDH-002-15
CAN000137
45.20
46.34
1.14
4.14
CAN-PP-DDH-002-15
CAN000138
46.34
47.47
1.13
0.03
CAN-PP-DDH-002-15
CAN000139
47.47
48.30
0.83
0.67
CAN-PP-DDH-002-15
CAN000140
48.30
49.80
1.50
0.56
CAN-PP-DDH-002-15
CAN000141
49.80
51.36
1.56
0.54
CAN-PP-DDH-002-15
CAN000142
51.36
52.85
1.49
0.37
CAN-PP-DDH-002-15
CAN000143
52.85
54.45
1.60
0.66
CAN-PP-DDH-002-15
CAN000145
54.45
56.00
1.55
0.43
CAN-PP-DDH-002-15
CAN000146
56.00
57.40
1.40
0.42		 2.89m @ 9.73% Cg
(incl. 1.54m @ 14.08% Cg)
[email protected]% Cg
19.50m @ 1.97% Cg
(incl. 1.00m @ 10.77% Cg)
[email protected]% Cg
[email protected]% Cg
[email protected]% Cg
CAN-PP-DDH-002-15
CAN000147
57.40
58.86
1.46
0.37
CAN-PP-DDH-002-15
CAN000148
58.86
60.09
1.23
0.32
CAN-PP-DDH-002-15
CAN000150
60.09
61.84
1.75
0.13
CAN-PP-DDH-002-15
CAN000151
61.84
62.84
1.00
0.03
CAN-PP-DDH-002-15
CAN000152
62.84
64.34
1.50
0.33
CAN-PP-DDH-002-15
CAN000153
64.34
65.60
1.26
0.60
CAN-PP-DDH-002-15
CAN000155
65.60
67.14
1.54
0.49
CAN-PP-DDH-002-15
CAN000156
67.14
68.00
0.86
0.54
CAN-PP-DDH-002-15
CAN000157
68.00
69.28
1.28
1.07
CAN-PP-DDH-002-15
CAN000158
69.28
70.40
1.12
3.02
CAN-PP-DDH-002-15
CAN000159
70.40
71.65
1.25
1.78
CAN-PP-DDH-002-15
CAN000160
71.65
72.38
0.73
3.26
CAN-PP-DDH-002-15
CAN000161
72.38
74.37
1.99
0.77
CAN-PP-DDH-002-15
CAN000162
74.37
75.52
1.15
0.18
CAN-PP-DDH-002-15
CAN000163
75.52
76.60
1.08
0.21
CAN-PP-DDH-002-15
CAN000164
76.60
78.10
1.50
0.45
CAN-PP-DDH-002-15
CAN000166
78.10
79.60
1.50
0.48
CAN-PP-DDH-002-15
CAN000167
79.60
81.27
1.67
0.55
CAN-PP-DDH-002-15
CAN000168
81.27
82.80
1.53
0.83
CAN-PP-DDH-002-15
CAN000169
82.80
84.35
1.55
0.48
CAN-PP-DDH-002-15
CAN000171
84.35
86.00
1.65
0.66
CAN-PP-DDH-002-15
CAN000172
86.00
87.55
1.55
0.74
CAN-PP-DDH-002-15
CAN000173
87.55
89.20
1.65
0.60
CAN-PP-DDH-002-15
CAN000174
89.20
90.55
1.35
0.67
4.38M @ 2.14% Cg
End of Hole
CAN-PP-DDH-003-15
CAN000332
0.00
0.90
0.90
0.33
CAN-PP-DDH-003-15
CAN000334
0.90
1.60
0.70
0.57
CAN-PP-DDH-003-15
CAN000335
1.60
2.40
0.80
0.43
CAN-PP-DDH-003-15
CAN000336
2.40
3.40
1.00
0.41
CAN-PP-DDH-003-15
CAN000337
3.40
4.90
1.50
0.89
CAN-PP-DDH-003-15
CAN000338
4.90
6.45
1.55
0.64
CAN-PP-DDH-003-15
CAN000339
6.45
7.95
1.50
0.50
CAN-PP-DDH-003-15
CAN000340
7.95
9.45
1.50
0.55
CAN-PP-DDH-003-15
CAN000341
9.45
10.95
1.50
2.04
CAN-PP-DDH-003-15
CAN000342
10.95
12.45
1.50
<0,05
CAN-PP-DDH-003-15
CAN000343
12.45
13.95
1.50
0.17
CAN-PP-DDH-003-15
CAN000344
13.95
15.45
1.50
1.06
CAN-PP-DDH-003-15
CAN000346
15.45
16.80
1.35
0.17
CAN-PP-DDH-003-15
CAN000347
16.80
18.10
1.30
1.88
CAN-PP-DDH-003-15
CAN000348
18.10
19.00
0.90
1.04
CAN-PP-DDH-003-15
CAN000349
19.00
20.30
1.30
0.92
CAN-PP-DDH-003-15
CAN000351
20.30
21.00
0.70
0.49
CAN-PP-DDH-003-15
CAN000352
21.00
21.80
0.80
0.25
CAN-PP-DDH-003-15
CAN000353
21.80
23.30
1.50
1.10
CAN-PP-DDH-003-15
CAN000354
23.30
24.04
0.74
1.00
CAN-PP-DDH-003-15
CAN000356
24.04
25.49
1.45
0.32
CAN-PP-DDH-003-15
CAN000357
25.49
26.05
0.56
0.18
CAN-PP-DDH-003-15
CAN000358
26.05
27.65
1.60
0.62
CAN-PP-DDH-003-15
CAN000359
27.65
28.48
0.83
0.85
CAN-PP-DDH-003-15
CAN000360
28.48
29.25
0.77
1.26
CAN-PP-DDH-003-15
CAN000361
29.25
30.04
0.79
0.45
CAN-PP-DDH-003-15
CAN000362
30.04
31.59
1.55
1.26
CAN-PP-DDH-003-15
CAN000364
31.59
32.45
0.86
0.50
CAN-PP-DDH-003-15
CAN000365
32.45
33.65
1.20
0.68
CAN-PP-DDH-003-15
CAN000366
33.65
35.61
1.96
0.67
CAN-PP-DDH-003-15
CAN000367
35.61
37.12
1.51
0.45
CAN-PP-DDH-003-15
CAN000368
37.12
38.63
1.51
0.94
CAN-PP-DDH-003-15
CAN000370
38.63
40.38
1.75
0.71
CAN-PP-DDH-003-15
CAN000371
40.38
41.70
1.32
0.43
CAN-PP-DDH-003-15
CAN000372
41.70
42.70
1.00
0.45
CAN-PP-DDH-003-15
CAN000373
42.70
43.74
1.04
0.31
CAN-PP-DDH-003-15
CAN000374
43.74
44.76
1.02
1.46
CAN-PP-DDH-003-15
CAN000376
44.76
45.77
1.01
0.46
1.50m % 2.04% Cg
5.05m @ 1.03% Cg
2.24m @ 1.07% Cg
[email protected]% Cg
[email protected]% Cg
[email protected]% Cg
CAN-PP-DDH-003-15
CAN000377
45.77
47.08
1.31
0.06
CAN-PP-DDH-003-15
CAN000378
47.08
47.95
0.87
0.96
CAN-PP-DDH-003-15
CAN000379
47.95
49.09
1.14
1.21
CAN-PP-DDH-003-15
CAN000380
49.09
50.91
1.82
0.65
[email protected]% Cg
End of Hole
CAN-PP-DDH-004-15
CAN000175
0.00
0.70
0.70
0.86
CAN-PP-DDH-004-15
CAN000176
0.70
1.35
0.65
0.83
CAN-PP-DDH-004-15
CAN000178
1.35
2.35
1.00
0.83
CAN-PP-DDH-004-15
CAN000179
2.35
3.26
0.91
0.48
CAN-PP-DDH-004-15
CAN000180
3.26
4.70
1.44
0.89
CAN-PP-DDH-004-15
CAN000181
4.70
6.20
1.50
0.60
CAN-PP-DDH-004-15
CAN000182
6.20
7.06
0.86
0.11
CAN-PP-DDH-004-15
CAN000183
7.06
7.90
0.84
0.89
CAN-PP-DDH-004-15
CAN000184
7.90
9.20
1.30
0.55
CAN-PP-DDH-004-15
CAN000186
9.20
10.20
1.00
0.29
CAN-PP-DDH-004-15
CAN000187
10.20
11.80
1.60
0.37
CAN-PP-DDH-004-15
CAN000188
11.80
13.61
1.81
0.39
CAN-PP-DDH-004-15
CAN000189
13.61
14.91
1.30
0.22
CAN-PP-DDH-004-15
CAN000190
14.91
15.94
1.03
0.23
CAN-PP-DDH-004-15
CAN000192
15.94
16.86
0.92
0.90
CAN-PP-DDH-004-15
CAN000193
16.86
18.11
1.25
1.08
CAN-PP-DDH-004-15
CAN000194
18.11
19.61
1.50
1.12
CAN-PP-DDH-004-15
CAN000195
19.61
21.16
1.55
0.75
CAN-PP-DDH-004-15
CAN000196
21.16
22.66
1.50
0.78
CAN-PP-DDH-004-15
CAN000198
22.66
24.16
1.50
0.59
CAN-PP-DDH-004-15
CAN000199
24.16
25.76
1.60
0.64
CAN-PP-DDH-004-15
CAN000200
25.76
27.26
1.50
0.64
CAN-PP-DDH-004-15
CAN000201
27.26
28.76
1.50
0.68
CAN-PP-DDH-004-15
CAN000202
28.76
29.80
1.04
0.37
CAN-PP-DDH-004-15
CAN000203
29.80
30.44
0.64
1.70
CAN-PP-DDH-004-15
CAN000204
30.44
31.81
1.37
0.31
CAN-PP-DDH-004-15
CAN000206
31.81
33.31
1.50
1.81
CAN-PP-DDH-004-15
CAN000207
33.31
34.81
1.50
0.75
CAN-PP-DDH-004-15
CAN000208
34.81
36.31
1.50
0.34
CAN-PP-DDH-004-15
CAN000209
36.31
37.81
1.50
0.57
CAN-PP-DDH-004-15
CAN000210
37.81
39.31
1.50
0.36
CAN-PP-DDH-004-15
CAN000212
39.31
40.81
1.50
0.51
CAN-PP-DDH-004-15
CAN000213
40.81
42.31
1.50
0.29
CAN-PP-DDH-004-15
CAN000214
42.31
43.81
1.50
0.38
CAN-PP-DDH-004-15
CAN000215
43.81
45.16
1.35
0.35
CAN-PP-DDH-004-15
CAN000216
45.16
46.30
1.14
0.16
CAN-PP-DDH-004-15
CAN000218
46.30
47.04
0.74
0.78
CAN-PP-DDH-004-15
CAN000219
47.04
48.04
1.00
0.16
CAN-PP-DDH-004-15
CAN000220
48.04
49.03
0.99
0.49
CAN-PP-DDH-004-15
CAN000221
49.03
49.86
0.83
0.14
CAN-PP-DDH-004-15
CAN000222
49.86
51.36
1.50
0.25
CAN-PP-DDH-004-15
CAN000224
51.36
52.86
1.50
0.29
CAN-PP-DDH-004-15
CAN000225
52.86
53.91
1.05
0.54
CAN-PP-DDH-004-15
CAN000226
53.91
55.08
1.17
0.39
CAN-PP-DDH-004-15
CAN000227
55.08
56.40
1.32
0.37
CAN-PP-DDH-004-15
CAN000229
56.40
57.38
0.98
0.37
CAN-PP-DDH-004-15
CAN000230
57.38
58.98
1.60
0.47
CAN-PP-DDH-004-15
CAN000231
58.98
60.58
1.60
0.27
CAN-PP-DDH-004-15
CAN000232
60.58
62.13
1.55
0.44
CAN-PP-DDH-004-15
CAN000233
62.13
63.58
1.45
0.29
CAN-PP-DDH-004-15
CAN000234
63.58
64.20
0.62
0.12
CAN-PP-DDH-004-15
CAN000236
64.20
65.73
1.53
0.43
CAN-PP-DDH-004-15
CAN000237
65.73
66.97
1.24
0.43
CAN-PP-DDH-004-15
CAN000238
66.97
68.45
1.48
0.18
CAN-PP-DDH-004-15
CAN000239
68.45
69.59
1.14
0.27
CAN-PP-DDH-004-15
CAN000240
69.59
70.88
1.29
0.06
CAN-PP-DDH-004-15
CAN000241
70.88
72.18
1.30
0.09
CAN-PP-DDH-004-15
CAN000242
72.18
72.79
0.61
0.65
2.75m @ 1.10% Cg
3.51m @ 1.20% Cg
CAN-PP-DDH-004-15
CAN000243
72.79
73.88
1.09
0.09
CAN-PP-DDH-004-15
CAN000244
73.88
74.93
1.05
0.26
CAN-PP-DDH-004-15
CAN000245
74.93
76.59
1.66
0.36
CAN-PP-DDH-004-15
CAN000246
76.59
77.93
1.34
0.39
CAN-PP-DDH-004-15
CAN000248
77.93
78.89
0.96
0.27
CAN-PP-DDH-004-15
CAN000249
78.89
79.86
0.97
0.39
CAN-PP-DDH-004-15
CAN000250
79.86
81.03
1.17
0.26
End of Hole
CAN-PP-DDH-005-15
CAN000251
0.00
0.70
0.70
0.40
CAN-PP-DDH-005-15
CAN000252
0.70
1.60
0.90
0.67
CAN-PP-DDH-005-15
CAN000254
1.60
2.40
0.80
0.76
CAN-PP-DDH-005-15
CAN000255
2.40
3.50
1.10
0.48
CAN-PP-DDH-005-15
CAN000256
3.50
5.00
1.50
0.72
CAN-PP-DDH-005-15
CAN000257
5.00
6.10
1.10
0.43
CAN-PP-DDH-005-15
CAN000258
6.10
7.70
1.60
0.38
CAN-PP-DDH-005-15
CAN000260
7.70
9.30
1.60
0.56
CAN-PP-DDH-005-15
CAN000261
9.30
11.00
1.70
0.37
CAN-PP-DDH-005-15
CAN000262
11.00
12.55
1.55
0.57
CAN-PP-DDH-005-15
CAN000263
12.55
14.05
1.50
1.40
CAN-PP-DDH-005-15
CAN000264
14.05
15.50
1.45
0.77
CAN-PP-DDH-005-15
CAN000265
15.50
17.00
1.50
1.23
CAN-PP-DDH-005-15
CAN000266
17.00
18.50
1.50
2.64
CAN-PP-DDH-005-15
CAN000268
18.50
20.00
1.50
3.38
CAN-PP-DDH-005-15
CAN000269
20.00
21.07
1.07
2.55
CAN-PP-DDH-005-15
CAN000270
21.07
22.71
1.64
0.76
CAN-PP-DDH-005-15
CAN000271
22.71
23.55
0.84
1.03
CAN-PP-DDH-005-15
CAN000272
23.55
24.35
0.80
0.06
CAN-PP-DDH-005-15
CAN000274
24.35
25.85
1.50
0.06
CAN-PP-DDH-005-15
CAN000275
25.85
26.95
1.10
<0,05
CAN-PP-DDH-005-15
CAN000276
26.95
27.50
0.55
<0,05
CAN-PP-DDH-005-15
CAN000278
27.50
28.65
1.15
0.21
CAN-PP-DDH-005-15
CAN000279
28.65
30.25
1.60
0.61
CAN-PP-DDH-005-15
CAN000280
30.25
31.12
0.87
0.77
CAN-PP-DDH-005-15
CAN000281
31.12
32.50
1.38
0.54
CAN-PP-DDH-005-15
CAN000282
32.50
33.25
0.75
0.27
CAN-PP-DDH-005-15
CAN000283
33.25
34.85
1.60
0.88
CAN-PP-DDH-005-15
CAN000285
34.85
36.25
1.40
1.31
CAN-PP-DDH-005-15
CAN000286
36.25
37.75
1.50
0.79
CAN-PP-DDH-005-15
CAN000287
37.75
39.25
1.50
0.87
CAN-PP-DDH-005-15
CAN000288
39.25
40.75
1.50
0.61
CAN-PP-DDH-005-15
CAN000289
40.75
42.25
1.50
0.50
CAN-PP-DDH-005-15
CAN000290
42.25
43.75
1.50
0.76
CAN-PP-DDH-005-15
CAN000292
43.75
45.25
1.50
0.29
CAN-PP-DDH-005-15
CAN000293
45.25
46.33
1.08
0.66
CAN-PP-DDH-005-15
CAN000294
46.33
47.40
1.07
0.76
CAN-PP-DDH-005-15
CAN000295
47.40
48.25
0.85
0.82
CAN-PP-DDH-005-15
CAN000296
48.25
49.75
1.50
0.97
CAN-PP-DDH-005-15
CAN000298
49.75
51.25
1.50
0.58
CAN-PP-DDH-005-15
CAN000299
51.25
52.75
1.50
0.50
CAN-PP-DDH-005-15
CAN000300
52.75
54.25
1.50
0.63
CAN-PP-DDH-005-15
CAN000301
54.25
55.25
1.00
0.26
CAN-PP-DDH-005-15
CAN000302
55.25
56.60
1.35
0.34
CAN-PP-DDH-005-15
CAN000303
56.60
58.15
1.55
0.74
CAN-PP-DDH-005-15
CAN000304
58.15
59.30
1.15
1.33
CAN-PP-DDH-005-15
CAN000306
59.30
60.05
0.75
0.27
CAN-PP-DDH-005-15
CAN000307
60.05
61.55
1.50
0.30
CAN-PP-DDH-005-15
CAN000308
61.55
63.05
1.50
0.33
CAN-PP-DDH-005-15
CAN000310
63.05
64.55
1.50
0.46
CAN-PP-DDH-005-15
CAN000311
64.55
65.95
1.40
0.33
CAN-PP-DDH-005-15
CAN000312
65.95
67.08
1.13
0.10
CAN-PP-DDH-005-15
CAN000313
67.08
68.15
1.07
0.64
CAN-PP-DDH-005-15
CAN000314
68.15
69.38
1.23
0.22
CAN-PP-DDH-005-15
CAN000315
69.38
71.05
1.67
<0,05
11.0m @ 1.72% Cg
(incl. 4.07m @ 2.89% Cg)
[email protected]% Cg
[email protected]% Cg
CAN-PP-DDH-005-15
CAN000316
71.05
72.57
1.52
0.41
CAN-PP-DDH-005-15
CAN000318
72.57
74.20
1.63
1.26
CAN-PP-DDH-005-15
CAN000319
74.20
75.96
1.76
1.07
CAN-PP-DDH-005-15
CAN000320
75.96
77.20
1.24
0.63
CAN-PP-DDH-005-15
CAN000321
77.20
78.83
1.63
0.09
CAN-PP-DDH-005-15
CAN000322
78.83
80.44
1.61
1.13
CAN-PP-DDH-005-15
CAN000323
80.44
82.30
1.86
0.89
CAN-PP-DDH-005-15
CAN000324
82.30
83.37
1.07
0.81
CAN-PP-DDH-005-15
CAN000326
83.37
84.83
1.46
3.64
CAN-PP-DDH-005-15
CAN000327
84.83
86.40
1.57
0.73
CAN-PP-DDH-005-15
CAN000329
86.40
88.15
1.75
0.39
CAN-PP-DDH-005-15
CAN000330
88.15
89.40
1.25
0.23
CAN-PP-DDH-005-15
CAN000331
89.40
90.55
1.15
0.25
3.39m @ 1.16% Cg
[email protected]% Cg
[email protected]% Cg
End of Hole
CAN-PP-DDH-006-15
CAN000381
0.00
1.50
1.50
0.45
CAN-PP-DDH-006-15
CAN000382
1.50
2.50
1.00
0.44
CAN-PP-DDH-006-15
CAN000383
2.50
3.50
1.00
0.49
CAN-PP-DDH-006-15
CAN000384
3.50
4.50
1.00
0.17
CAN-PP-DDH-006-15
CAN000385
4.50
6.00
1.50
0.93
CAN-PP-DDH-006-15
CAN000387
6.00
7.50
1.50
0.49
CAN-PP-DDH-006-15
CAN000388
7.50
9.00
1.50
0.65
CAN-PP-DDH-006-15
CAN000389
9.00
10.05
1.05
0.77
CAN-PP-DDH-006-15
CAN000390
10.05
11.10
1.05
0.77
CAN-PP-DDH-006-15
CAN000392
11.10
12.25
1.15
0.26
CAN-PP-DDH-006-15
CAN000393
12.25
12.70
0.45
0.37
CAN-PP-DDH-006-15
CAN000394
12.70
13.90
1.20
0.36
CAN-PP-DDH-006-15
CAN000395
13.90
14.92
1.02
2.01
CAN-PP-DDH-006-15
CAN000397
14.92
15.94
1.02
4.06
CAN-PP-DDH-006-15
CAN000398
15.94
18.16
2.22
0.54
CAN-PP-DDH-006-15
CAN000399
18.16
19.02
0.86
1.46
CAN-PP-DDH-006-15
CAN000400
19.02
20.10
1.08
1.42
2.04m @ 3.04% Cg
(incl. [email protected]% Cg)
1.94m @ 1.44% Cg
End of Hole
CAN-PP-DDH-007-15
CAN000401
0.00
0.80
0.80
1.61
CAN-PP-DDH-007-15
CAN000402
0.80
1.65
0.85
0.28
CAN-PP-DDH-007-15
CAN000403
1.65
3.25
1.60
0.28
CAN-PP-DDH-007-15
CAN000404
3.25
4.85
1.60
0.62
CAN-PP-DDH-007-15
CAN000405
4.85
6.40
1.55
1.40
CAN-PP-DDH-007-15
CAN000406
6.40
7.90
1.50
2.44
CAN-PP-DDH-007-15
CAN000408
7.90
8.93
1.03
0.65
CAN-PP-DDH-007-15
CAN000409
8.93
9.50
0.57
0.14
CAN-PP-DDH-007-15
CAN000410
9.50
11.00
1.50
0.13
CAN-PP-DDH-007-15
CAN000411
11.00
11.80
0.80
0.37
CAN-PP-DDH-007-15
CAN000412
11.80
12.60
0.80
0.28
CAN-PP-DDH-007-15
CAN000414
12.60
13.50
0.90
0.35
CAN-PP-DDH-007-15
CAN000415
13.50
14.10
0.60
0.52
CAN-PP-DDH-007-15
CAN000416
14.10
15.60
1.50
0.45
CAN-PP-DDH-007-15
CAN000417
15.60
17.15
1.55
0.46
CAN-PP-DDH-007-15
CAN000418
17.15
18.65
1.50
0.40
CAN-PP-DDH-007-15
CAN000420
18.65
20.20
1.55
0.42		 [email protected]% Cg
3.05m @ 1.91% Cg
End of Hole

Section 1 Sampling Techniques and Data

Criteria JORC Code explanation Commentary
Sampling
techniques		 Nature and quality of sampling (eg cut channels, random chips, or
specific specialised industry standard measurement tools appropriate
to the minerals under investigation, such as down hole gamma
sondes, or handheld XRF instruments, etc). These examples should
not be taken as limiting the broad meaning of sampling.
Include reference to measures taken to ensure sample representivity
and the appropriate calibration of any measurement tools or systems
used.
Aspects of the determination of mineralisation that are Material to the
Public Report.
In cases where ‘industry standard’ work has been done this would be
relatively simple (eg ‘reverse circulation drilling was used to obtain 1
m samples from which 3 kg was pulverised to produce a 30 g charge
for fire assay’). In other casesmore explanation may be required,
such as where there is coarse gold that has inherent sampling
problems. Unusual commodities or mineralisation types (eg
submarine nodules) may warrant disclosure of detailed information.		 Sampling at the Canindé project is by diamond drill core.The intervals
were defined based on a geological log, assuming sampling lengths
between 0.5m up to 2.0metres.
The drill hole collars are located by handheld GPS. At the end of the
drilling program, the company intends to survey all the drill hole
collars with a Differential GPS.
Drill core was logged by lithology, weathering, mineralogy and
structure. Sampling was carried out under Paradigm protocols and
QAQC procedures as per industry best practice.
Certified standards and blanks were inserted into the sampling
sequence at a nominal rate of 1 standard in every 20 samples and 1
duplicate in every 20 samples. Results from the QAQC sampling
were considered acceptable.
All samples are dried, crushed, homogenized, riffle split and
pulverized (total prep) to produce a sub sample for analysis.
Samples were prepared and analysed by SGS-Geosol laboratory, in
Brazil
Samples were analysed for graphitic carbon (Cg) by infrared
detection - LECO.
Drilling
techniques		 Drill type (eg core, reverse circulation, open-hole hammer, rotary air
blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple
or standard tube, depth of diamond tails, face-sampling bit or other
_type, whether core is oriented and if so, by what method, etc). _		 Drilling to date has been a combination of HQ and NQ-diameter
diamond drilling. 8 drill holes completed and the program is
terminated. A total of 475.90 metres have been drilled.
Drill sample
recovery		 Method of recording and assessing core and chip sample recoveries
and results assessed.		 Diamond core recoveries are logged and recorded in the database.
Overall recoveries are consistently >90% in oxide and >95% in fresh
~~rock. Drill sample recoveries are recorded as an average for each~~
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.		 ~~metre and recorded in the database. Current recoveries are excellent~~
and there are no known sample recovery problems, with the
exception of the 2-3 metres of top soil profile.
Diamond core is reconstructed into continuous runs on an angle iron
cradle for recovery measurement and core orientation. Depths are
checked against those marked on the core blocks, and against the
drilling company’s records.
Based on the actual sample recoveries existing on company´s
database, there is no known sample bias or potential for sample bias.
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.		 Logging samples records lithology, mineralogy, mineralisation,
structural, weathering, colour and other features of the samples. Rock
quality design, core recoveries, bulk density and sampling information
are recorded. Core is photographed in dry form. The information was
input into the company´s database.
Logging of core records lithology, mineralogy, mineralisation,
grainsize, texture, weathering, oxidation, colour and other features of
the samples. Drill samples for each hole were photographed either
within core trays.
All drill holes are logged in full from start to finish of the hole.
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.		 Core holes and half core sampled from cut core with a core saw.
Only core samples are being reported.
Preparation of samples was performed at SGS-Geosol laboratory.
Samples were dried (105_⁰_C), crushed to 80% passing 3 millimetres,
homogenized, riffle split (primary split) and pulverized to 95% passing
of 150 mesh.
Paradigm quality control procedures included submission into the
sampling sequence certified reference material, field duplicates and
Criteria JORC Code explanation Commentary
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.		 check assaying of 1 in every 20 samples, or 1 per batch. Blanks are
inserted at a nominal rate of 1 in every 20 or 1 per batch.
Laboratory quality control procedures include the submission of
blanks, duplicates and standard reference material. Typically, for
every 25 to 30 samples, a pulp duplicate, reagent blank and an
aliquot of certified reference material is inserted into the sample
stream. All QC results are reported within the final assay report.
The existing results of the duplicates show an acceptable level of
repeatability
Sample size is deemed appropriate relative with the grain size based
on industry standards of similar mineral styles and sampling methods.
Quality of
assay data
and
laboratory
tests		 The nature, quality and appropriateness of the assaying and
laboratory procedures used and whether the technique is considered
partial or total.
For geophysical tools, spectrometers, handheld XRF instruments, etc,
the parameters used in determining the analysis including instrument
make and model, reading times, calibrations factors applied and their
derivation, etc.
Nature of quality control procedures adopted (eg standards, blanks,
duplicates, external laboratory checks) and whether acceptable levels
of accuracy (ie lack of bias) and precision have been established.		 Graphitic carbon grades were determined by infrared detection using
a LECO method. Samples were analysed by SGS-Geosol laboratory
in Brazil.
No geophysical tools have been applied.
Paradigm QAQC procedures include the insertion of duplicates,
blanks and commercial standards samples. Results are generally
satisfactory demonstrating acceptable levels of accuracy and
precision.
Laboratory QAQC involves the use of internal laboratory standards
using certified reference material, blanks, and splits as per laboratory
procedures.
Verification
of sampling
and
assaying		 The verification of significant intersections by either independent or
alternative company personnel.
The use of twinned holes.		 Several company staff based within Brazil or off shore review and
verify significant intersections from diamond core drilling either
physically on site or from photographs of the intersections.
One twinned hole (CAN-PP-DDH-008-15) have being drilled with the
objective to provide enough material of the mineralized interception
obtained on hole CAN-PP-DDH-001-15. The twinned hole just cover
the upper 20 metres interval of hole CAN-PP-DDH-001-15.
~~ ~~~~Documentation of primary data, data entry procedures, data~~
verification, data storage (physical and electronic) protocols.
Discuss any adjustment to assay data.		 ~~ ~~~~Diamond core logging takes place at the company’s core yard.~~
Graphical logs are used to record the geological information. Grade
control samples are not lithologically logged. Data entry personnel
enter the graphic logs into standard Excel templates generated from
the company SQL database. The Excel templates contain validation
routines to ensure standard codes are enforced. All graphical logs are
scanned and email to head office for digital capture.
No adjustments were made to any assay information, except for
“lower than detection limit” values that are stored within
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.		 Drill holes mentioned on this announcement were located with using
a hand held GPS.
Geological stations were located with using a hand held GPS.
The unit used on both activities was a Garmin 62sc model and the
accuracy of the locations is considered sufficient, based on the actual
stage of the exploration program.
Universal Transverse Mercator, SAD69 zone 24 south hemisphere.
Digital Terrain Model (DTM) was used along the mapping phase at
Pedra Preta target.
Each geological station and drilling section were surveyed by a hand
held GPS and the elevation values from the GPS survey were used
as a topographic control, providing a reasonable quality control and
adequate for the actual stage of exploration.
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.		 The actual drilling program is exploration in nature and the data
spacing is very broad to test the presence of mineralized horizons at
depth.
The data spacing and distribution is sufficient to demonstrate spatial
and grade continuity of the mineralized horizon however, much more
drilling will be necessary to support the definition of Inferred/Indicated
Mineral Resources and to identify Measured Ore Reserves.
Samples were not composited.
Orientation
of data in
relation to		 Whether the orientation of sampling achieves unbiased sampling of
possible structures and the extent to which this is known, considering
the deposit type.		 Geology and mineralisation at Caninde project (Pedra Preta target) is
gently (30-40_⁰) dipping to east. Thus the drill holes are angled to the_
west, in order to achieve intersections at the most optimal angle
possible.
Criteria JORC Code explanation Commentary
geological
structure		 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.		 The company does not believe that any sample bias has been
introduced which could have a material effect a future resource
model, particularly given the strong correlation between
mineralisation andpotential lithologies.
Sample
security		 The measures taken to ensure sample security. All core samples are received intact and in their entirety in their core
trays at the Company’s core yard. All sampling and work on the
samples is carried out within the confines of this facility. Samples are
delivered by Paradigm to the laboratory. Paradigm has protocols and
procedures for tracking the progress of the samples through the
laboratory, ensuring accurate validation and authentication of results
issued by the laboratory in relation to the samples that were
submitted.
Audits or
reviews		 The results of any audits or reviews of sampling techniques and data. The property has not enough exploration data that supports an audits
or reviews.

Section 2 Reporting of Exploration Results

Criteria JORC Code explanation Commentary Commentary Commentary Commentary Commentary Commentary Commentary
Mineral
tenement
and land
tenure status		 Type, reference name/number, location and ownership including
agreements or material issues with third parties such as joint
ventures, partnerships, overriding royalties, native title interests,
historical sites, wilderness or national park and environmental
settings.
The security of the tenure held at the time of reporting along with any
known impediments to obtaining a licence to operate in the area.		 The Caninde Project comprises 17 exploration licenses already
granted covering a total area of 15,614 hectares.
The mineral property are registered under the following processes;
801.063/2010, 801.064/2010, 800.011/2011, 800.012/2011,
800.013/2011, 800.014/2011, 800.015/2011, 800.016/2011,
800.017/2011, 800.018/2011, 800.019/2011, 800.662/2011,
800.663/2011, 800.018/2012, 800.019/2012, 800.294/2012 and
800.295/2012.
The company is not aware of any impediment to obtain a license to
operate in the area.
Exploration
done by
other parties		 Acknowledgment and appraisal of exploration by other parties. Significant exploration works were conducted by other parties on the
project area and can be resumed to regional mapping, rock grab and
chip sampling, soil sampling, shallow pits and trenching. No drilling
has being conducted.
All the analysis available are historical in nature but were produced by
~~an ISO-accredited laboratory.~~
~~Geology~~ ~~ ~~~~Deposit type, geological setting and style of mineralisation.~~ ~~~~ ~~Graphite mineralization in Paleoproterozoic high metamorphic terrain.~~
Stratabound graphite-rich beds and massive graphite discordant
lenses/veins.
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.		 Drill holes collar location details are presented on th
the drill holes (total 8) reported on this announceme
_270_⁰ _azimuth and -60_⁰ _dip. Atotal of 475.90 metres _		 e table be
nt were dr
_have bee _		 low. All
illed
ndrilled.
DEPTH
(m)
102.51
90.55
50.91
81.03
90.55
20.10
20.20
20.05
HOLE_ID DEPTH
(m)
UTMZONE EASTING NORTHING ELEVATION
CAN-PP-DDH-001-15 24M 455633.00 9494250.00 380.45 102.51
CAN-PP-DDH-002-15 24M 455696.00 9494230.00 406.00 90.55
CAN-PP-DDH-003-15 24M 455745.50 9494596.00 382.50 50.91
CAN-PP-DDH-004-15 24M 455577.00 9494200.50 381.60 81.03
CAN-PP-DDH-005-15 24M 455625.00 9494200.50 384.70 90.55
CAN-PP-DDH-006-15 24M 455633.00 9494275.00 379.45 20.10
CAN-PP-DDH-007-15 24M 455633.00 9494230.00 380.95 20.20
CAN-PP-DDH-008-15 24M 455633.00 9494250.60 380.45 20.05
Data
aggregation
methods		 In reporting Exploration Results, weighting averaging techniques,
maximum and/or minimum grade truncations (eg cutting of high
grades) and cut-off grades are usually Material and should be stated.
Where aggregate intercepts incorporate short lengths of high grade
results and longer lengths of low grade results, the procedure used
for such aggregation should be stated and some typical examples of
such aggregations should be shown in detail.
The assumptions used for any reporting of metal equivalent values
should be clearly stated.

Drill intercepts are reported as down hole lengths a
represent true thickness of the mineralization.

Drill intercept mentioned on this report was announ
illustrated on a previous announcement (March 2,
No assumptions are included in this report, because
Equivalents have not been used.		 nd do not
ced and d
2015).
Metal		 etailed
Relationship
between
mineralisatio
n widths and
intercept
lengths		 These relationships are particularly important in the reporting of
Exploration Results.
If the geometry of the mineralisation with respect to the drill hole
angle is known, its nature should be reported.
If it is not known and only the down hole lengths are reported, there
should be a clear statement to this effect(eg ‘down hole length, true
The geometry of the mineralization is not clearly defined at th
current level of exploration.
Thickness reported on the drill hole intercept refers to down h
length. True width is not known at the current stage.		 e
ole
Criteria JORC Code explanation Commentary
width not known’).
Diagrams Appropriate maps and sections (with scales) and tabulations of
intercepts should be included for any significant discovery being
reported These should include, but not be limited to a plan view of
drill hole collar locations and appropriate sectional views.		 Refer to figure(s) and table(s) contained within the announcement
body.
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.		 All the assays received to date on drill hole CAN-PP-DDH-001-15
were reported on a previous announcement (March 2, 2015), totalling
17 assays. The graphite grades ranged from 0.50% Cg up to a
_maximum of 31.49% Cg. _
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 is no other material data to be reported.
Further work The nature and scale of planned further work (eg tests for lateral
extensions or depth extensions or large-scale step-out drilling).
Diagrams clearly highlighting the areas of possible extensions,
including the main geological interpretations and future drilling areas,
provided this information is not commercially sensitive.		 Conduct a metallurgical test work;
Trenching;
Induced polarization or EM-loop survey;

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