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ITECH MINERALS LTD Regulatory Filings 2021

Dec 12, 2021

65144_rns_2021-12-12_5477140f-a208-4b54-a552-43abe8b4e57c.pdf

Regulatory Filings

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ASX RELEASE 13 December 2021

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BOARD & MANAGEMENT

Glenn Davis - Chair Michael Schwarz - MD Gary Ferris - NED Jarek Kopias - Co Sec

CAPITAL STRUCTURE

Ordinary Shares Issued 96.1M

Options Issued 3.0M

POSITIVE RESULTS GROW THE RARE EARTH POTENTIAL OF THE EYRE PENINSULA KAOLIN PROJECT

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REE bearing high purity kaolin samples from the Ethiopia Prospect – Eyre Peninsula Project, South Australia

Beneficiated results summary:

  • ETH-033 22m @ 904 ppm TREO (-45µm) from 2m

  • including 10m @ 1113 ppm TREO (-45µm) from 14m

  • ETH-037 18m @ 839 ppm TREO (-45µm) from 2m

CONTACT

Address: Level 3, 63 Pirie Street ADELAIDE SA 5000

  • ETH-032 12m @ 508 ppm TREO (-45µm) from 2m

  • Beneficiated results increase thickness and extent of REE mineralisation across the prospect

Unbeneficiated results summary:

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

Telephone: +61 2 5850 0000

  • ETH-029 returns thick, high-grade rare earth elements in preliminary, unbeneficiated samples

  • 32m @ 1038 ppm TREO from 0m

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  • including 8m @ 1687 ppm TREO from 8m

  • Enriched in high value rare earths neodymium and praseodymium (~24%) critical for renewable energy technology

  • Enriched in heavy REE (~34%)

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Location – Ethiopia Prospect, Eyre Peninsula, South Australia

  • Clay beneficiation is underway on multiple holes (including ETH029). This process has increased rare earth grades by an average of 184% in previous samples

iTech Minerals Ltd (ASX: ITM , iTech or Company ) has received the second batch of analytical results from resampling of historical drilling at the Ethiopia Prospect on the Eyre Peninsula, South Australia. The second batch includes results from both beneficiated samples that concentrate the clay fraction and unbeneficiated samples which are straight from the ground, with no processing. Both sets of results are very positive. The beneficiated samples show an increase in thickness and extent of REE mineralisation across the prospect and the unbeneficiated samples indicate continuing improvements to thickness and grade. In particular, the preliminary results from drill hole ETH-029 have confirmed iTech’s expectation of thick, high-grade rare earth elements (REE) at the end of a line of drilling. The rare earths in ETH-029 continue to display enrichment of neodymium and praseodymium (~24% Nd+Pr), which are critical in the production of permanent magnets for electric vehicles and renewable energy. Significantly, this drill hole also shows a greater enrichment of high value heavy rare earths (~34%).

“What is particularly significant is that these results not only confirm the anticipated higher rare earth grades but the location of these holes also suggests that the potential Ion Adsorption Clay style of mineralisation is open in several directions. iTech is really looking forward to testing these areas in our upcoming drilling program.”

Managing Director Mike Schwarz

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To watch an explanation video please click the link below https://www.itechminerals.com.au/investorarticles/rareearthpotentialgrowsethiopia

www.itechminerals.com.au

ASX RELEASE 13 December 2021

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Figure 1. Location of the Ethiopia Prospect – Eyre Peninsula, South Australia

A detailed review of historical data, from aircore drilling undertaken by Adelaide Exploration Pty Ltd in 2007, identified thick intervals, up to 24m, of high purity kaolin clay, over an area of approximately 1 km x 1km (Fig. 2). Of the 41 aircore holes drilled, a preliminary 10 holes were sub-sampled to assess the potential for high purity kaolin and ion adsorption clay (IAC) REE mineralisation. The results were successful and show thick intervals of high purity kaolin at or near surface with coincident total rare earth element oxides (TREO) ( ASX Release, 12-Nov-21, Rare Earth Potential Confirmed at Kaolin Project). This encouraged iTech to sample the remaining drill holes.

Beneficiated Results

Updated results, including extensions to previously sampled holes are highlighted in green in Table 1 below: A full list of results can be found in Appendix 1.

Hole ID From
(m)
To (m) Interval
(m)
TREO
<45µm
(ppm)
TREO
>45µm
(ppm)
TREO
bulk
(ppm)
TREO
<45µm/bulk
(%)
TREO-
CeO2
<45µm
(ppm)
LREO
<45µm
(ppm)
HREO
<45µm
(ppm)
CREO
<45µm
(ppm)
%
NdPr
<45µm
%LREO
<45µm
%HREO
<45µm
**Sample Type ** Quartz Bulk Clay
ETH-01 0 6 6 896 197 466 192% 511 758 138 239 24% 85% 15%
inc 4 6 2 **1104 ** 199 544 203% 631 936 169 295 24% 85% 15%
ETH-03 0 6 6 696 209 368 189% 389 605 91 173 24% 87% 13%
ETH-05 2 8 6 285 212 235 121% 174 227 58 87 **23% ** 80% 20%
ETH-013 0 10 10 784 187 393 200% 440 682 102 200 25% 87% 13%
ETH-014 2 8 6 323 230 254 127% 184 276 47 81 **23% ** 85% 15%
ETH-016 2 26 24 367 164 164 224% 204 322 45 80 20% 88% 12%
inc 20 26 6 **502 ** 147 236 212% 279 441 61 113 22% 88% 12%
ETH-018 2 6 4 260 126 161 162% 144 229 32 60 22% 88% 12%
ETH-032 2 14 12 508 223 314 162% 293 423 85 136 23% 83% 17%
ETH-033 2 24 22 **904 ** 265 524 172% 524 755 148 255 **25% ** 84% 16%
inc 14 24 10 1113 299 576 193% 651 918 196 324 **25% ** 82% 18%
ETH-034 2 26 24 411 193 347 118% 313 464 86 145 23% 84% 16%
ETH-036 2 22 20 209 138 155 134% 119 176 33 52 **20% ** 84% 16%
inc 18 22 4 **504 ** 129 223 226% 285 431 73 131 **23% ** 85% 15%
ETH-037 2 20 18 839 277 432 194% 463 743 96 208 **25% ** 89% 11%
ETH-038 2 10 8 812 162 351 231% 456 711 101 206 25% 88% 12%

Table 1. Updated REE analysis of the Ethiopia Prospect – Eyre Peninsula, South Australia (new results in green, results pertaining to previously released holes in grey, ASX Release, 12-Nov-21, Rare Earth Potential Confirmed at Kaolin Project).

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www.itechminerals.com.au

ASX RELEASE 13 December 2021

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Figure 2. Location of updated kaolin analysis samples and REE results, Ethiopia Prospect – Eyre Peninsula, South Australia

Unbeneficiated results

Preliminary results from the remaining holes have been received (Table 2). These analyses were undertaken on the bulk sample prior to clay beneficiation. Based on the aluminium, silica, iron and REE values, iTech selects prospective samples for kaolin and/or REE mineralisation for clay beneficiation test work. Within this set of samples is drill hole ETH-029, which showed potential for high REE grades over a thick interval based on historical cerium values. ETH-029 had a historical analysis of 33m @ 356 ppm Ce from surface. This is over three times the Ce concentration in the best samples submitted to date, and over a significantly thicker interval. Analysis of the complete suite of REE has translated into a substantial result of:

  • ETH-029 32m @ 1038 ppm TREO from 0m o including 8m @ 1687 ppm TREO from 8m

Significant results from the unbeneficiated samples include:

Hole ID From (m) To (m) Interval
(m)
TREO (%) TREO-
CeO2
(ppm)
LREO
(ppm)
HREO
(ppm)
CREO
(ppm)
% NdPr %LREO %HREO
Bulk(Unbeneficiated)
ETH-004 2 24 22 **407 ** 224 288 119 90 25% 71% 29%
ETH-008 2 4 2 **387 ** 206 275 111 79 23% 71% 29%
ETH-010 0 28 28 397 222 280 118 91 25% 70% 30%
ETH-012 2 6 4 474 263 332 142 103 24% 70% 30%
ETH-019 0 28 28 403 222 278 124 85 23% 69% 31%
ETH-020 0 16 16 **232 ** 129 159 73 49 23% 69% 31%
ETH-027 0 40 40 335 194 229 107 78 24% 67% 33%
ETH-029 0 32 32 1038 628 688 350 256 24% 66% 34%
incl 8 16 8 **1687 ** 1017 1137 550 428 26% 67% 33%
ETH-033 2 40 38 487 284 384 103 134 25% 78% 22%
ETH-035 0 32 32 421 233 299 123 97 25% 71% 29%
ETH-037 2 31 29 428 238 365 63 106 25% 85% 15%
ETH-041 0 6 6 353 196 247 106 79 24% 70% 30%

Table 2. Preliminary REE analysis on unbeneficiated drill holes at the Ethiopia Prospect – Eyre Peninsula, South Australia

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www.itechminerals.com.au

ASX RELEASE 13 December 2021

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Figure 3. Location of unbeneficiated samples and REE results, Ethiopia Prospect – Eyre Peninsula, South Australia

Next Steps

iTech is now undertaking the kaolin beneficiation process on selected samples from the remaining 13 drill holes. In previous samples the REE’s have been significantly concentrated in the clay component, upgrading the REE grade on average 184%. This confirms that the REE’s are bound to the clay particles, and with the heavy rare earth element and neodymium and praseodymium enrichment, this is possibly an ion adsorption clay style of REE mineralisation. Samples are being sent to ANSTO in Sydney to understand the REE recoveries and what proportion might be ionically attached to clays and therefore readily recoverable.

For further information please contact the authorising officer Michael Schwarz:

Michael Schwarz, FAusIMM, AIG Managing Director E: [email protected] Ph: +61 2 5850 0000 W: www.itechminerals.com.au

Or

Gavan H Farley Director - Corporate Advisory Novus Capital Mob: +61 420 520 300 Main: +61 2 9375 0114 E: [email protected]

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www.itechminerals.com.au

ASX RELEASE 13 December 2021

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ABOUT iTECH MINERALS LTD

iTech Minerals Ltd is a newly listed mineral exploration company exploring for and developing battery materials and critical minerals within its 100% owned Australian projects. The company is exploring for kaolinite-halloysite, ion adsorption clay rare earth element mineralisation and developing the Campoona Graphite Deposit in South Australia. The company also has extensive exploration tenure prospective for Cu-Au porphyry mineralisation, IOCG mineralisation and gold mineralisation in South Australia and tin, Tungsten, and polymetallic Cobar style mineralisation in New South Wales.

COMPETENT PERSON STATEMENT

The information which relates to exploration results is based on and fairly represents information and supporting documentation compiled by Michael Schwarz. Mr Schwarz 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’ (the JORC Code). Mr Schwarz is a full-time employee of iTech Minerals Ltd and is a member of the Australian Institute of Geoscientists and the Australian Institute of Mining and Metallurgy. Mr Schwarz consents to the inclusion of the information in this report in the form and context in which it appears.

This announcement contains results that have previously released as “Replacement Prospectus” on 19 October 2021, “Rare Earth Potential Identified at Kaolin Project” on 21 October 2021 and “Rare Earth Potential Confirmed at Kaolin Project” on 12 November 2021. iTech confirms that the Company is not aware of any new information or data that materially affects the information included in the announcement.

GLOSSARY

CREO = Critical Rare Earth Element Oxide HREO = Heavy Rare Earth Element Oxide IAC = Ion Adsorption Clay LREO = Light Rare Earth Element Oxide REE = Rare Earth Element REO = Rare Earth Element Oxide TREO = Total Rare Earth Element Oxides %NdPr = Percentage amount of neodymium and praesidium as a proportion of the total amount of rare earth elements

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www.itechminerals.com.au

ASX RELEASE 13 December 2021

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APPENDIX 1 – DETAILED TECHNICAL INFORMATION AND JORC TABLE 1

Hole ID From (m) To (m) Interval (m) TREO bulk
(ppm)
TREO <45µm
(ppm)
Sample Type Bulk
ETH-01 0 6 6 466 896
inc 4 6 2 544 **1104 **
ETH-03 0 6 6 368 696
ETH-004 2 24 22 407 Pending
ETH-05 2 8 6 235 285
ETH-008 2 4 2 387 Pending
ETH-010 0 28 28 397 Pending
ETH-012 2 6 4 474 Pending
ETH-013 0 10 10 393 **784 **
ETH-014 2 8 6 254 323
ETH-016 2 26 24 164 **367 **
inc 20 26 6 236 **502 **
ETH-018 2 6 4 161 260
ETH-019 0 28 28 403 Pending
ETH-020 0 16 16 232 Pending
ETH-027 0 40 40 335 Pending
ETH-029 0 32 32 1038 Pending
inc 8 16 8 1687 Pending
ETH-032 2 14 12 314 508
ETH-033 2 24 22 524 904
inc 14 24 10 576 1113
ETH-033 2 40 38 487 Pending
ETH-035 0 32 32 421 Pending
ETH-036 2 22 20 155 209
inc 18 22 4 223 **504 **
ETH-037 2 20 18 432 839
ETH-037 2 31 29 428 Pending
ETH-038 2 10 8 351 812
ETH-041 0 6 6 353 Pending

Table 3. Bulk vs beneficiated REE results from the Ethiopia Prospect – Eyre Peninsula, South Australia

www.itechminerals.com.au

ASX RELEASE 13 December 2021

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**<45 ** micron (Clay Fraction) micron (Clay Fraction)
Sample ID Hole ID From
(m)
To (m) Interval (m) ISO Brightness
(%)
Recovery
%
Fe2O3 (%) SiO2
(%)
Al2O3 (%) CaO (%) K2O (%) Mn
(%)
Na2O (%) MgO
(%)
P (%) S (%) TiO2 (%) LOI (%)
Detection Limit **0.01 ** **0.01 ** **0.01 ** **0.01 ** **0.01 ** **0.01 ** **0.01 ** **0.01 ** **0.001 ** **0.001 ** **0.01 ** **0.01 **
3275977 ETH-005 2 8 6 32 29 5.28 52.23 27.30 0.11 5.06 <0.01 0.21 0.60 0.05 0.00 0.53 8.10
3275981 ETH-014 2 8 6 46 26 3.65 57.07 25.00 0.18 4.04 <0.01 0.47 0.73 0.03 0.01 0.77 7.65
3275986 ETH-018 2 6 4 41.5 26 2.51 58.60 24.50 0.28 5.00 <0.01 2.21 0.35 0.06 0.01 0.23 5.72
3275987 ETH-032 8 14 6 58.5 31 2.66 53.26 29.10 0.28 3.44 <0.01 1.14 0.63 0.03 0.01 0.60 8.32
3275989 ETH-033 2 8 6 75.5 51 0.83 50.33 34.30 0.08 1.40 <0.01 0.08 0.22 0.03 0.01 0.69 11.80
3275990 ETH-033 8 14 6 76.5 49 0.77 53.61 30.90 0.04 4.65 <0.01 0.24 0.14 0.07 0.01 0.69 9.10
3275991 ETH-033 14 20 6 73.0 41 0.89 53.42 30.40 0.05 4.53 <0.01 0.18 0.15 0.07 0.01 0.87 9.06
3275991 ETH-033 20 24 4 49.0 22 2.36 51.98 29.80 0.08 4.32 <0.01 0.20 0.48 0.08 0.01 0.92 9.13
3276001 ETH-037 2 8 6 75.5 34 0.75 55.82 28.70 0.05 4.88 <0.01 0.30 0.15 0.05 0.02 0.99 8.14
3276001 ETH-037 8 16 8 71.0 26 1.06 55.77 28.40 0.16 4.28 <0.01 0.82 0.28 0.06 0.03 0.95 8.06
3276001 ETH-037 16 20 4 42.0 17 3.45 58.71 23.30 0.29 5.36 <0.01 1.77 0.65 0.07 0.01 0.90 5.10

Table 4. Ethiopia Prospect 2007 RAB drillhole updated kaolin clay fraction sample assay results

<45 micron (Cl ay Fractio n)
Sample
ID
Hole ID From To Interval CeO2
La2O3
Dy2O3
Er2O3
Eu2O3
Gd2O3
Ho2O3
Lu2O3
Nd2O3
Pr6O11
Sm2O3
Tb4O7
Tm2O3
Yb2O3
Y2O3
TREO
TREO-
LREO
HREO
CREO
NdPr
%LREO %HREO
(m) (m) (m) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) CeO2
(ppm)
(ppm) (ppm) (ppm) (%)
**Detection ** Limit 1 1 0.5 1 0.5 1 1 0.5 0.5 1 0.5 0.5 1 1 1
3275977 ETH-005 2 8 6 111.8 48.1 4.6 2.3 1.2 5.8 1.1 0.6 52.5 14.5 9.3 1.2 1.1 3.4 27.9 285 174 227 58 87 23% 80% 20%
3275981 ETH-014 2 8 6 138.8 63.3 4.0 2.3 0.6 5.8 1.1 0.6 56.6 16.9 9.9 0.6 1.1 2.3 19.0 323 184 276 47 81 23% 85% 15%
3275986 ETH-018 2 6 4 116.7 53.9 2.3 1.1 1.2 3.5 1.1 0.6 44.9 13.3 7.5 0.6 1.1 1.1 11.4 260 144 229 32 60 22% 88% 12%
3275987 ETH-032 8 14 6 201.5 82.1 5.7 2.3 1.2 10.4 1.1 0.6 81.6 24.2 15.7 1.2 1.1 3.4 31.7 **464 ** 262 389 74 121 23% 84% 16%
3275989 ETH-033 2 8 6 238.3 98.5 7.5 3.4 0.6 11.5 1.1 0.6 105.0 31.4 19.7 1.8 1.1 3.4 40.6 565 326 473 91 155 24% 84% 16%
3275990 ETH-033 8 14 6 384.5 158.3 10.3 3.4 1.2 19.6 1.1 0.6 171.5 52.0 33.0 2.4 1.1 2.3 52.1 893 509 766 127 237 25% 86% 14%
3275991 ETH-033 14 20 6 432.4 171.2 15.5 8.0 1.7 23.1 2.3 0.6 204.1 59.2 41.2 2.9 1.1 5.7 92.7 **1062 ** 629 867 195 317 25% 82% 18%
3275991 ETH-033 20 24 4 507.3 195.9 16.1 8.0 1.7 28.8 2.3 0.6 226.3 64.0 40.0 3.5 1.1 6.8 87.6 1190 683 994 197 335 24% 83% 17%
3276001 ETH-037 2 8 6 391.9 159.5 8.0 2.3 1.2 18.4 1.1 0.6 172.6 50.7 30.1 1.8 1.1 2.3 34.3 876 484 775 101 218 25% 88% 12%
3276001 ETH-037 8 16 8 368.5 151.3 6.3 2.3 1.2 17.3 1.1 0.6 157.5 45.9 26.7 1.8 1.1 2.3 29.2 813 444 723 90 196 25% 89% 11%
3276001 ETH-037 16 20 4 368.5 147.8 7.5 3.4 1.2 17.3 1.1 0.6 171.5 47.1 29.6 1.8 1.1 2.3 35.6 836 468 735 101 217 26% 88% 12%

Table 5. Ethiopia Prospect 2007 RAB drillhole updated kaolin clay fraction REE assay results

**>45 ** micron (Qu artz Fracti on)
Sample
ID
Hole ID From To Interval CeO2
La2O3
Dy2O3
Er2O3
Eu2O3
Gd2O3
Ho2O3
Lu2O3
Nd2O3
Pr6O11
Sm2O3
Tb4O7
Tm2O3
Yb2O3
Y2O3
TREO
TREO-
LREO
HREO
CREO
NdPr
%LREO %HREO
(m) (m) (m) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) CeO2
(ppm)
(ppm) (ppm) (ppm) (%)
**Detection ** Limit 1 1 0.5 1 0.5 1 1 0.5 0.5 1 0.5 0.5 1 1 1
3275977 ETH-005 2 8 6 86.0 36.4 1.1 0.6 4.6 1.1 0.6 41.4 12.1 7.5 0.6 1.1 1.1 17.8 212 126 176 36 60 25% 83% 17%
3275981 ETH-014 2 8 6 99.5 42.2 3.4 1.1 0.6 4.6 1.1 0.6 42.0 12.1 7.5 0.6 1.1 1.1 12.7 230 131 196 35 59 23% 85% 15%
3275986 ETH-018 2 6 4 55.3 24.6 1.1 1.1 0.6 1.2 1.1 0.6 22.2 6.0 4.1 0.6 1.1 1.1 5.1 126 71 108 18 30 22% 86% 14%
3275987 ETH-032 8 14 6 116.7 48.1 4.6 2.3 0.6 4.6 1.1 0.6 47.8 14.5 9.3 0.6 1.1 2.3 25.4 280 163 227 52 79 22% 81% 19%
3275989 ETH-033 2 8 6 92.7 38.7 2.3 0.6 0.6 5.8 1.1 0.6 47.2 12.1 8.7 0.6 1.1 2.3 27.9 242 150 191 52 79 24% 79% 21%
3275990 ETH-033 8 14 6 94.0 38.7 1.1 0.6 0.6 4.6 1.1 0.6 43.7 12.1 8.1 0.6 1.1 1.1 21.6 230 136 188 41 68 24% 82% 18%
3275991 ETH-033 14 20 6 89.7 25.8 2.3 0.6 0.6 3.5 1.1 0.6 28.6 8.5 5.8 0.6 1.1 1.1 22.9 193 103 153 40 55 19% 79% 21%
3275991 ETH-033 20 24 4 191.6 73.9 6.9 3.4 1.2 11.5 1.1 0.6 84.6 25.4 15.1 1.2 1.1 3.4 38.1 459 267 375 84 132 24% 82% 18%
3276001 ETH-037 2 8 6 92.7 27.0 1.1 0.6 0.6 3.5 1.1 0.6 27.4 8.5 5.2 0.6 1.1 1.1 10.2 181 89 156 26 40 20% 86% 14%
3276001 ETH-037 8 16 8 147.4 61.0 3.4 1.1 0.6 5.8 1.1 0.6 64.7 18.1 11.0 0.6 1.1 1.1 14.0 332 184 291 40 83 25% 88% 12%
3276001 ETH-037 16 20 4 138.8 52.8 4.0 1.1 0.6 5.8 1.1 0.6 60.7 18.1 11.6 0.6 1.1 1.1 15.2 313 174 270 43 81 25% 86% 14%

Table 6. Ethiopia Prospect 2007 RAB drillhole updated quartz fraction REE assay results

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ASX RELEASE 13 December 2021

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Bulkdrill sample
Sample
ID
Hole ID From To Interval CeO2
La2O3
Dy2O3
Er2O3
Eu2O3
Gd2O3
Ho2O3
Lu2O3
Nd2O3
Pr6O11
Sm2O3
Tb4O7
Tm2O3
Yb2O3
Y2O3
TREO
TREO-
LREO
HREO
CREO
NdPr
%LREO %HREO
(m) (m) (m) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) CeO2
(ppm)
(ppm) (ppm) (ppm) (%)
**Detection ** Limit 1 1 0.5 1 0.5 1 1 0.5 0.5 1 0.5 0.5 1 1 1
3275977 ETH-005 2 8 6 93.5 39.8 3.4 1.5 0.7 4.9 1.1 0.6 44.6 12.8 8.0 0.8 1.1 1.8 20.7 235 142 191 45 70 24% 81% 19%
3275981 ETH-014 2 8 6 109.7 47.7 3.6 1.4 0.6 4.9 1.1 0.6 45.8 13.3 8.1 0.6 1.1 1.4 14.3 254 145 217 38 65 23% 85% 15%
3275986 ETH-018 2 6 4 71.2 32.3 1.4 1.1 0.7 1.8 1.1 0.6 28.1 7.9 5.0 0.6 1.1 1.1 6.7 161 90 140 21 38 22% 87% 13%
3275987 ETH-032 8 14 6 143.0 58.6 4.9 2.3 0.8 6.4 1.1 0.6 58.3 17.5 11.3 0.8 1.1 2.6 27.4 337 194 277 59 92 23% 82% 18%
3275989 ETH-033 2 8 6 166.7 69.1 4.9 2.0 0.6 8.7 1.1 0.6 76.6 21.9 14.3 1.2 1.1 2.9 34.4 406 239 334 72 118 24% 82% 18%
3275990 ETH-033 8 14 6 237.2 97.7 5.7 2.0 0.9 12.0 1.1 0.6 106.7 31.7 20.4 1.5 1.1 1.7 36.6 557 320 473 84 151 25% 85% 15%
3275991 ETH-033 14 20 6 229.1 85.0 7.7 3.6 1.0 11.4 1.6 0.6 100.0 29.1 20.2 1.5 1.1 3.0 51.3 546 317 443 103 162 24% 81% 19%
3275991 ETH-033 20 24 4 261.1 100.7 8.9 4.4 1.3 15.3 1.4 0.6 115.7 33.9 20.6 1.7 1.1 4.2 49.0 620 359 511 108 177 24% 83% 17%
3276001 ETH-037 2 8 6 195.6 72.5 3.5 1.2 0.8 8.6 1.1 0.6 77.3 23.0 13.8 1.0 1.1 1.5 18.5 420 225 368 52 101 24% 88% 12%
3276001 ETH-037 8 16 8 204.9 84.5 4.2 1.4 0.7 8.8 1.1 0.6 88.8 25.3 15.1 0.9 1.1 1.4 17.9 457 252 404 53 113 25% 88% 12%
3276001 ETH-037 16 20 4 177.9 68.9 4.6 1.5 0.7 7.7 1.1 0.6 79.5 23.1 14.7 0.8 1.1 1.3 18.7 402 224 349 53 104 25% 87% 13%

Table 7. Ethiopia Prospect 2007 RAB drillhole updated bulk REE assay results

SAMPLE INF **ORMATION ** CHE MICAL ANAL YSIS
SAMPLE Hole ID From (m) To
(m)
Interval (m) Fe2O3 (%) SiO2 (%) Al2O3 (%) CaO (%) K2O (%) Mn (%) Na2O (%) MgO (%) P (%) S (%) TiO2 (%) Cl (%) LOI (%)
0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.001 0.001 0.01 0.001 0.01
3890167 ETH-004 2 6 4 2.19 72.33 14.4 0.06 6.32 <0.01 0.63 0.49 0.056 0.015 0.39 0.142 2.73
3890168 ETH-004 6 8 2 2.13 72.73 14.1 0.32 6.62 <0.01 1.87 0.58 0.069 0.007 0.35 0.054 1.28
3890169 ETH-004 8 12 4 2.6 70.89 15.1 0.66 5.44 <0.01 2.91 0.53 0.062 0.007 0.39 0.044 1.17
3890170 ETH-004 12 16 4 2.52 71.98 14.6 0.52 5.65 <0.01 2.62 0.63 0.073 0.004 0.44 0.044 1.08
3890171 ETH-004 16 20 4 2.45 71.19 14.8 0.51 6.04 <0.01 2.51 0.71 0.067 0.006 0.4 0.037 0.98
3890172 ETH-004 20 24 4 2.28 72.05 14.8 0.40 6.16 <0.01 2.36 0.72 0.072 0.008 0.39 0.039 0.98
3889411 ETH-008 2 4 2 0.54 74.8 14.8 0.04 6.15 <0.01 0.5 0.13 0.051 0.01 0.31 0.086 2.84
3890173 ETH-010 0 4 4 2.05 72.41 14.8 0.22 5.71 <0.01 1.6 0.46 0.048 0.011 0.41 0.043 2.1
3890174 ETH-010 4 8 4 1.64 72.53 15 0.25 5.99 <0.01 1.83 0.49 0.049 0.016 0.41 0.056 1.77
3890175 ETH-010 8 12 4 1.92 72.42 14.8 0.31 5.68 <0.01 2.2 0.66 0.053 0.02 0.4 0.054 1.51
3890176 ETH-010 12 16 4 1.83 72.58 14.7 0.24 6.02 <0.01 1.86 0.71 0.051 0.014 0.39 0.066 1.49
3890177 ETH-010 16 20 4 2.69 75.1 12.8 0.31 3.61 <0.01 2.33 0.62 0.047 0.026 0.37 0.094 1.77
3890178 ETH-010 20 24 4 2.43 72 14.3 0.32 5.87 <0.01 2.49 0.67 0.064 0.006 0.35 0.036 1.02
3890179 ETH-010 24 28 4 2.7 71.63 14.3 0.26 5.94 0.01 2.37 0.86 0.068 0.004 0.38 0.036 1.06
3889412 ETH-012 2 6 4 0.57 72.77 16.3 0.02 4.67 <0.01 0.57 0.19 0.049 0.021 0.35 0.378 4.42
3890187 ETH-019 0 4 4 1.39 74.28 13.8 0.26 6.35 <0.01 0.96 0.29 0.059 0.005 0.29 0.029 2.17
3890188 ETH-019 4 8 4 4.72 66.28 17.2 0.81 4.17 0.01 2.31 0.6 0.034 0.013 0.56 0.109 3.18
3890189 ETH-019 8 12 4 3.92 67.17 17.1 1.30 3.5 0.02 3.51 0.77 0.023 0.007 0.61 0.097 1.99
3890190 ETH-019 12 16 4 2.45 69.63 15.7 0.38 6.34 <0.01 2.65 0.53 0.054 0.006 0.5 0.057 1.46
3890191 ETH-019 16 20 4 1.94 72.93 14.4 0.25 6.45 <0.01 2.13 0.45 0.058 0.005 0.34 0.057 1.23
3890192 ETH-019 20 24 4 2.35 70.88 15.2 0.47 6.28 <0.01 2.68 0.66 0.072 0.002 0.36 0.034 0.87
3890193 ETH-019 24 28 4 2.18 74.62 13.1 0.43 5.51 0.01 2.4 0.53 0.063 0.006 0.29 0.074 0.66
3889413 ETH-020 0 4 4 0.52 73.17 15.1 0.08 7.25 <0.01 0.39 0.19 0.056 0.005 0.31 0.03 2.7
3889414 ETH-020 4 8 4 0.65 74.03 14.8 0.04 6.93 <0.01 0.8 0.18 0.049 0.01 0.24 0.164 2.31
3889415 ETH-020 8 12 4 0.37 74.77 14.4 0.06 6.8 <0.01 1.1 0.1 0.054 0.01 0.12 0.143 1.97
3889416 ETH-020 12 16 4 0.85 74.5 14.4 0.13 6.82 <0.01 1.58 0.26 0.057 0.007 0.22 0.08 1.55
3889417 ETH-024 2 4 2 1.09 75.6 14.3 0.17 4.97 <0.01 1.18 0.29 0.047 0.008 0.08 0.041 2.45
3890194 ETH-027 0 4 4 2.35 75.61 12.4 0.15 4.5 <0.01 0.99 0.56 0.043 0.007 0.4 0.012 2.44
3890196 ETH-027 8 12 4 2.24 71.42 14.6 0.30 6.31 <0.01 2.14 0.58 0.072 0.01 0.39 0.036 1.48
3890197 ETH-027 12 16 4 2.37 71.77 14.9 0.36 5.98 <0.01 2.38 0.64 0.077 0.004 0.4 0.027 1.32
3890198 ETH-027 16 20 4 2.27 73.08 14 0.39 5.74 <0.01 2.42 0.49 0.073 0.004 0.29 0.034 1.15
3890199 ETH-027 20 24 4 2.3 72.12 14.5 0.36 5.64 <0.01 2.71 0.52 0.066 0.004 0.33 0.03 1.13
3890200 ETH-027 24 28 4 2.52 72.67 13.8 0.33 5.65 <0.01 2.57 0.43 0.08 0.006 0.25 0.05 1.12
3890201 ETH-027 28 32 4 1.45 74.2 14.2 0.36 5.12 <0.01 3.15 0.35 0.063 0.004 0.25 0.032 0.89
3890202 ETH-027 32 36 4 0.95 82.24 10 0.26 2.15 <0.01 3.16 0.26 0.048 0.002 0.17 0.021 0.71
3890203 ETH-027 36 40 4 1.49 75.17 13.7 0.42 3.18 <0.01 4.37 0.58 0.067 0.003 0.29 0.025 0.69
3890204 ETH-029 0 4 4 1.64 81.16 9.67 0.30 2.63 <0.01 0.63 0.4 0.037 0.012 0.3 0.061 2.77
3890205 ETH-029 4 8 4 7.35 62.47 16.2 0.46 4.07 0.02 1.97 1.37 0.15 0.032 1.64 0.108 3.63
3890206 ETH-029 8 12 4 6.86 58.65 19.3 1.64 1.68 0.03 2.93 0.62 0.294 0.17 2.92 0.111 4.43
3890207 ETH-029 12 16 4 7.22 56.04 21.2 1.22 1.86 0.03 2.73 0.48 0.238 0.079 3.08 0.204 5.09

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SAMPLE INF **ORMATION ** CHE MICAL ANALY SIS
SAMPLE Hole ID From (m) To
(m)
Interval (m) Fe2O3 (%) SiO2 (%) Al2O3 (%) CaO (%) K2O (%) Mn (%) Na2O (%) MgO (%) P (%) S (%) TiO2 (%) Cl (%) LOI (%)
**0.01 ** **0.01 ** **0.01 ** **0.01 ** **0.01 ** **0.01 ** **0.01 ** **0.01 ** **0.001 ** **0.001 ** **0.01 ** **0.001 ** **0.01 **
3890208 ETH-029 16 20 4 7.54 58.33 18.5 2.12 2.34 0.03 3.11 2.24 0.257 0.013 2.32 0.085 3.17
3890209 ETH-029 20 24 4 9.94 57.36 16.7 4.46 1.34 0.13 3.43 1.4 0.4 0.006 2.39 0.029 1.4
3890210 ETH-029 24 28 4 5.45 66.42 15.3 1.30 4.55 0.06 2.57 1.18 0.212 0.006 1.12 0.027 1.61
3890211 ETH-029 28 32 4 2.21 72.1 14.7 0.47 5.78 <0.01 2.56 0.47 0.111 0.007 0.39 0.027 1.19
3275989 ETH-033 2 8 6 1.18 69.67 20.33 0.06 1.02 0.00 0.07 0.14 0.02 0.01 0.43 0.00 6.76
3275990 ETH-033 8 14 6 0.98 71.88 18.12 0.03 3.55 0.00 0.18 0.08 0.05 0.01 0.43 0.00 4.80
3275991 ETH-033 14 20 6 0.90 72.22 17.04 0.02 4.93 0.00 0.23 0.07 0.06 0.00 0.40 0.00 3.92
3275992 ETH-033 20 24 4 2.10 63.74 21.79 0.04 5.32 0.00 0.29 0.34 0.07 0.01 0.61 0.04 5.56
3890212 ETH-033 24 28 4 1.75 72.36 14.8 0.28 5.6 <0.01 2.12 0.5 0.085 0.004 0.35 0.018 1.64
3890213 ETH-033 28 32 4 1.79 72.65 14.6 0.41 5.25 <0.01 2.66 0.51 0.084 0.008 0.34 0.024 1.23
3890214 ETH-033 32 36 4 2.06 71.95 14.9 0.51 4.79 <0.01 3.07 0.45 0.081 0.008 0.34 0.035 1.29
3890215 ETH-033 36 40 4 1.88 73.59 14.3 0.42 5.18 <0.01 2.56 0.66 0.078 0.004 0.34 0.029 1.09
3890216 ETH-035 0 4 4 0.79 72.87 16.2 0.17 3.24 <0.01 2.6 0.19 0.035 0.012 0.3 0.056 3.18
3890217 ETH-035 4 8 4 1.51 72.91 15.2 0.34 5.15 <0.01 2.4 0.46 0.048 0.009 0.38 0.141 1.81
3890218 ETH-035 8 12 4 1.35 72.55 15.2 0.26 5.34 <0.01 2.61 0.29 0.049 0.005 0.33 0.063 1.6
3890219 ETH-035 12 16 4 1.84 71.93 15.1 0.19 5.29 <0.01 2.56 0.37 0.046 0.011 0.41 0.062 1.86
3890220 ETH-035 16 20 4 5.04 65.53 16.2 0.21 5.53 0.02 1.98 2.77 0.045 0.009 0.52 0.048 2.3
3890221 ETH-035 20 24 4 2.37 72.23 14.6 0.24 5.67 <0.01 2.58 0.72 0.068 0.004 0.41 0.027 1.2
3890222 ETH-035 24 28 4 3.09 70.94 14.6 0.34 4.79 0.01 2.7 1.11 0.063 0.007 0.45 0.035 1.37
3890223 ETH-035 28 32 4 2.64 74.47 13.4 0.70 2.48 <0.01 3.9 1.11 0.053 0.006 0.33 0.027 1.07
3275997 ETH-036 2 8 6 1.07 85.34 8.29 0.03 3.79 <0.01 0.21 0.03 0.027 0.004 0.05 <0.001 1.18
3275998 ETH-036 8 14 6 0.98 84.32 8.11 0.18 5.09 <0.01 0.49 0.01 0.083 0.003 0.02 <0.001 0.25
3275999 ETH-036 14 18 4 1.17 82.55 8.96 0.16 5.47 <0.01 0.87 0.02 0.061 0.001 0.04 <0.001 0.25
3276000 ETH-036 18 22 4 1.12 84.06 8.89 0.17 4.39 <0.01 1.21 0.03 0.037 <0.001 0.05 <0.001 0.27
3276001 ETH-037 2 8 6 0.79 73.15 16.13 0.03 5.80 0.00 0.39 0.05 0.05 0.01 0.40 0.00 3.10
3276002 ETH-037 8 16 8 1.17 69.57 18.16 0.10 5.36 0.00 0.95 0.18 0.05 0.01 0.48 0.13 3.83
3276003 ETH-037 16 20 4 2.81 69.23 16.41 0.25 6.22 0.00 1.89 0.43 0.06 0.00 0.43 0.05 1.94
3890225 ETH-037 20 24 4 2.14 72.68 14.7 0.34 5.93 <0.01 2.07 0.56 0.059 0.003 0.34 0.034 1.3
3890226 ETH-037 24 28 4 2.45 72.02 14.4 0.33 5.87 <0.01 2.02 0.66 0.055 0.005 0.42 0.033 1.29
3890227 ETH-037 28 31 3 2.39 71.72 14.5 0.43 6.03 <0.01 2.46 0.63 0.063 0.004 0.37 0.032 0.98
3889418 ETH-039 0 6 6 0.86 74.47 14.5 0.12 6.12 <0.01 1.08 0.1 0.059 0.007 0.22 0.043 2.32
3889419 ETH-041 0 6 6 0.47 72.97 16.4 0.06 5.26 <0.01 0.51 0.14 0.051 0.016 0.34 0.183 3.9

Table 8. Ethiopia Prospect 2007 RAB drillhole bulk sample assay results

REE An alysis
Sample
ID
Hole ID From
(m)
To
(m)
Interval
(m)
CeO2
(ppm)
La2O3
(ppm)
Dy2O3
(ppm)
Er2O3
(ppm)
Eu2O3
(ppm)
Gd2O3
(ppm)
Ho2O3
(ppm)
Lu2O3
(ppm)
Nd2O3
(ppm)
Pr6O11
(ppm)
Sm2O3
(ppm)
Tb4O7
(ppm)
Tm2O3
(ppm)
Yb2O3
(ppm)
Y2O3
(ppm)
TREO
(ppm)
TREO-
CeO2
(ppm)
LREO
(ppm)
HREO
(ppm)
CREO
(ppm)
NdPr
(%)
%LREO %HREO
Detection L imit 1 1 0.5 1 0.5 1 1 0.5 0.5 1 0.5 0.5 1 1 1
3890167 ETH-004 2 6 4 196.5 3.5 1.1 1.2 9.3 1.2 79.0 0.6 83.4 24.2 15.7 1.2 1.1 14.8 1.3 **434 ** 237 308 126 96 25% 71% 29%
3890168 ETH-004 6 8 2 157.2 3.5 1.1 1.2 8.1 1.2 61.9 0.6 67.1 20.5 12.8 0.6 1.1 14.8 1.3 353 196 248 105 78 25% 70% 30%
3890169 ETH-004 8 12 4 218.7 4.1 2.3 1.2 9.3 1.2 92.8 0.6 88.1 26.6 16.2 1.2 1.1 18.2 1.3 483 264 337 145 102 24% 70% 30%
3890170 ETH-004 12 16 4 191.6 3.5 1.1 1.2 9.3 1.2 75.6 0.6 84.6 24.2 14.5 1.2 1.1 15.9 1.3 427 235 304 123 97 25% 71% 29%
3890171 ETH-004 16 20 4 174.4 3.5 1.1 1.2 8.1 1.2 69.9 0.6 78.1 21.7 15.7 0.6 1.1 14.8 1.3 393 219 278 115 89 25% 71% 29%
3890172 ETH-004 20 24 4 189.2 3.5 1.1 1.2 9.3 1.2 72.2 0.6 84.6 25.4 16.8 1.2 1.1 14.8 1.3 423 234 303 121 97 26% 71% 29%
3889411 ETH-008 2 4 2 180.6 4.1 1.1 1.2 6.9 1.2 71.0 0.6 68.8 21.7 12.8 0.6 1.1 13.7 1.3 **387 ** 206 275 111 79 23% 71% 29%
3890173 ETH-010 0 4 4 185.5 3.5 1.1 1.2 8.1 1.2 75.6 0.6 81.1 24.2 15.1 1.2 1.1 17.1 1.3 418 232 294 123 93 25% 70% 30%
3890174 ETH-010 4 8 4 176.9 4.1 1.1 1.2 8.1 1.2 69.9 0.6 77.6 23.0 15.7 1.2 1.1 15.9 1.3 399 222 282 117 89 25% 71% 29%
3890175 ETH-010 8 12 4 190.4 4.7 2.3 1.2 9.3 1.2 72.2 0.6 83.4 24.2 15.7 1.2 1.1 21.6 1.3 430 240 303 127 97 25% 70% 30%
3890176 ETH-010 12 16 4 164.6 3.5 1.1 1.2 8.1 1.2 63.0 0.6 75.2 20.5 15.1 0.6 1.1 15.9 1.3 373 208 264 109 86 26% 71% 29%
3890177 ETH-010 16 20 4 163.4 3.5 1.1 1.2 8.1 1.2 61.9 0.6 73.5 20.5 12.8 1.2 1.1 14.8 1.3 366 203 261 105 85 26% 71% 29%
3890178 ETH-010 20 24 4 178.1 5.3 2.3 0.6 9.3 1.2 66.4 0.6 79.9 23.0 16.8 1.2 1.1 21.6 2.5 410 232 286 124 95 25% 70% 30%
3890179 ETH-010 24 28 4 164.6 5.3 2.3 0.6 10.4 1.2 61.9 0.6 76.4 21.7 14.5 1.2 1.1 21.6 1.3 385 220 268 117 92 26% 70% 30%
3889412 ETH-012 2 6 4 211.3 5.3 1.1 1.2 10.4 1.2 87.1 0.6 89.2 26.6 17.4 1.2 1.1 19.4 1.3 474 263 332 142 103 24% 70% 30%
3890187 ETH-019 0 4 4 174.4 3.5 2.3 1.2 9.3 1.2 73.3 0.6 70.6 19.3 12.8 1.2 1.1 18.2 1.3 390 216 268 122 85 23% 69% 31%
3890188 ETH-019 4 8 4 167.1 3.5 2.3 1.7 5.8 1.2 76.7 0.6 59.5 18.1 9.9 0.6 1.1 13.7 1.3 363 196 248 115 69 21% 68% 32%
3890189 ETH-019 8 12 4 249.4 3.5 1.1 1.7 8.1 1.2 115.7 0.6 83.4 25.4 12.2 1.2 1.1 13.7 1.3 519 270 362 158 95 21% 70% 30%
3890190 ETH-019 12 16 4 200.2 5.3 2.3 1.2 9.3 1.2 87.1 0.6 79.9 23.0 15.1 1.2 1.1 23.9 2.5 **454 ** 253 308 145 95 23% 68% 32%
3890191 ETH-019 16 20 4 156.0 4.1 1.1 0.6 8.1 1.2 59.6 0.6 65.9 19.3 12.8 1.2 1.1 15.9 1.3 349 193 245 103 78 24% 70% 30%
3890192 ETH-019 20 24 4 172.0 5.3 2.3 1.2 10.4 1.2 67.6 0.6 78.1 23.0 14.5 1.2 1.1 20.5 1.3 400 228 278 122 93 25% 70% 30%

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

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ASX RELEASE 13 December 2021

==> picture [108 x 51] intentionally omitted <==

REE An alysis
Sample
ID
Hole ID From
(m)
To
(m)
Interval
(m)
CeO2
(ppm)
La2O3
(ppm)
Dy2O3
(ppm)
Er2O3
(ppm)
Eu2O3
(ppm)
Gd2O3
(ppm)
Ho2O3
(ppm)
Lu2O3
(ppm)
Nd2O3
(ppm)
Pr6O11
(ppm)
Sm2O3
(ppm)
Tb4O7
(ppm)
Tm2O3
(ppm)
Yb2O3
(ppm)
Y2O3
(ppm)
TREO
(ppm)
TREO-
CeO2
(ppm)
LREO
(ppm)
HREO
(ppm)
CREO
(ppm)
NdPr
(%)
%LREO %HREO
Detection L imit 1 1 0.5 1 0.5 1 1 0.5 0.5 1 0.5 0.5 1 1 1
3890193 ETH-019 24 28 4 146.2 4.7 2.3 0.6 9.3 1.2 56.1 0.6 68.8 19.3 12.8 1.2 1.1 18.2 1.3 344 197 239 105 83 26% 70% 30%
3889413 ETH-020 0 4 4 127.8 2.9 1.1 0.6 5.8 1.2 52.7 0.6 50.7 15.7 10.4 0.6 1.1 10.2 1.3 283 155 197 86 60 23% 70% 30%
3889414 ETH-020 4 8 4 100.7 1.8 1.1 0.6 4.6 1.2 43.5 0.6 39.1 12.1 7.0 0.6 1.1 8.0 1.3 223 122 154 70 47 23% 69% 31%
3889415 ETH-020 8 12 4 76.2 1.8 1.1 0.6 3.5 1.2 33.2 0.6 28.6 8.5 5.8 0.6 1.1 5.7 1.3 170 93 115 55 35 22% 68% 32%
3889416 ETH-020 12 16 4 106.9 3.5 1.1 0.6 5.8 1.2 47.0 0.6 47.2 13.3 9.9 0.6 1.1 11.4 1.3 **251 ** 144 171 80 56 24% 68% 32%
3889417 ETH-024 2 4 2 29.5 1.2 1.1 0.6 1.2 1.2 16.0 0.6 11.7 3.6 1.7 0.6 1.1 2.3 1.3 74 44 46 28 16 21% 62% 38%
3890194 ETH-027 0 4 4 159.7 4.7 2.3 1.2 9.3 1.2 64.1 0.6 71.7 20.5 13.3 1.2 1.1 18.2 1.3 370 211 257 114 86 25% 69% 31%
3890196 ETH-027 8 12 4 219.9 4.7 2.3 1.2 10.4 1.2 82.5 0.6 96.2 27.8 17.4 1.2 1.1 15.9 1.3 **484 ** 264 349 135 111 26% 72% 28%
3890197 ETH-027 12 16 4 212.5 5.3 2.3 1.2 10.4 1.2 83.6 0.6 100.9 27.8 17.4 1.2 1.1 25.1 2.5 493 280 346 147 117 26% 70% 30%
3890198 ETH-027 16 20 4 140.0 5.9 3.4 1.2 9.3 1.2 53.8 1.1 67.1 18.1 12.2 1.8 1.1 23.9 3.8 344 204 231 113 85 25% 67% 33%
3890199 ETH-027 20 24 4 116.7 5.9 3.4 0.6 8.1 1.2 44.7 0.6 53.7 14.5 10.4 1.2 1.1 28.5 2.5 293 176 191 102 69 23% 65% 35%
3890200 ETH-027 24 28 4 120.4 4.7 2.3 0.6 8.1 1.2 47.0 0.6 51.3 15.7 11.6 1.2 1.1 19.4 1.3 286 166 192 94 64 23% 67% 33%
3890201 ETH-027 28 32 4 104.4 4.7 2.3 0.6 6.9 1.2 40.1 0.6 48.4 13.3 8.7 1.2 1.1 20.5 1.3 255 151 171 84 60 24% 67% 33%
3890202 ETH-027 32 36 4 71.2 4.7 2.3 0.6 5.8 1.2 28.6 0.6 31.5 9.7 6.4 0.6 1.1 22.8 2.5 190 118 117 72 43 22% 62% 38%
3890203 ETH-027 36 40 4 127.8 5.3 2.3 0.6 8.1 1.2 49.3 0.6 54.8 15.7 11.0 1.2 1.1 20.5 2.5 **302 ** 174 204 98 69 23% 67% 33%
3890204 ETH-029 0 4 4 92.1 2.9 1.1 0.6 4.6 1.2 43.5 0.6 36.2 10.9 5.8 0.6 1.1 12.5 1.3 215 123 142 73 44 22% 66% 34%
3890205 ETH-029 4 8 4 497.5 14.7 6.9 5.8 28.9 2.3 214.2 0.6 228.6 61.6 37.1 3.5 1.1 58.1 5.1 1166 669 802 364 273 25% 69% 31%
3890206 ETH-029 8 12 4 690.4 34.6 13.8 10.4 54.4 5.8 269.2 1.1 366.2 93.0 65.5 7.1 1.1 119.6 10.2 1742 1052 1184 558 452 26% 68% 32%
3890207 ETH-029 12 16 4 648.6 32.8 12.6 10.4 49.8 5.8 263.5 1.7 324.3 84.6 56.8 5.9 2.3 119.6 12.7 **1631 ** 983 1090 541 405 25% 67% 33%
3890208 ETH-029 16 20 4 487.7 28.1 13.8 7.5 42.8 5.8 191.3 1.7 242.6 64.0 42.3 5.9 1.1 135.5 11.4 **1282 ** 794 822 459 317 24% 64% 36%
3890209 ETH-029 20 24 4 481.5 27.6 13.8 7.5 40.5 4.6 191.3 1.7 244.9 60.4 44.1 5.3 2.3 136.6 11.4 1274 792 814 459 316 24% 64% 36%
3890210 ETH-029 24 28 4 237.1 12.9 6.9 3.5 19.7 2.3 90.5 0.6 119.0 31.4 23.2 2.4 1.1 62.6 5.1 618 381 400 218 153 24% 65% 35%
3890211 ETH-029 28 32 4 148.6 8.2 3.4 1.2 11.6 1.2 55.0 0.6 72.3 18.1 12.8 1.2 1.1 39.9 2.5 378 229 247 130 91 24% 65% 35%
3275989 ETH-033 2 8 6 169.5 69.1 6.0 2.9 0.6 8.7 1.1 0.6 76.6 21.9 14.3 1.2 1.1 2.9 34.4 411 241 337 74 119 24% 82% 18%
3275990 ETH-033 8 14 6 238.1 97.7 6.8 2.3 0.9 12.0 1.1 0.6 106.7 31.7 20.4 1.5 1.1 1.7 36.6 559 321 474 85 152 25% 85% 15%
3275991 ETH-033 14 20 6 214.5 85.0 8.0 4.7 1.1 11.4 1.6 0.6 100.0 29.1 20.2 1.5 1.1 3.0 51.3 533 319 429 104 162 24% 80% 20%
3275992 ETH-033 20 24 4 261.3 100.8 8.9 4.5 1.3 15.3 1.4 0.6 115.8 33.9 20.6 1.7 1.1 4.2 49.0 620 359 512 109 177 24% 82% 18%
3890212 ETH-033 24 28 4 160.9 5.3 2.3 0.6 9.3 1.2 59.6 0.6 77.0 20.5 14.5 1.2 1.1 20.5 1.3 376 215 264 112 91 26% 70% 30%
3890213 ETH-033 28 32 4 210.1 5.9 2.3 0.6 11.6 1.2 77.9 0.6 97.4 26.6 18.6 1.2 1.1 26.2 2.5 **484 ** 274 340 144 115 26% 70% 30%
3890214 ETH-033 32 36 4 185.5 7.0 3.4 1.2 11.6 1.2 68.7 0.6 86.9 23.0 16.8 1.8 1.1 31.9 3.8 444 259 302 142 107 25% 68% 32%
3890215 ETH-033 36 40 4 172.0 5.9 2.3 0.6 10.4 1.2 64.1 0.6 82.2 23.0 15.7 1.2 1.1 26.2 2.5 409 237 283 126 99 26% 69% 31%
3890216 ETH-035 0 4 4 149.9 2.3 1.1 0.6 4.6 1.2 65.3 0.6 57.2 16.9 9.3 0.6 1.1 9.1 1.3 321 171 226 95 65 23% 70% 30%
3890217 ETH-035 4 8 4 153.6 2.3 1.1 1.2 5.8 1.2 63.0 0.6 65.3 19.3 11.0 0.6 1.1 8.0 1.3 335 182 241 95 74 25% 72% 28%
3890218 ETH-035 8 12 4 175.7 2.3 1.1 1.2 5.8 1.2 69.9 0.6 71.7 21.7 12.2 0.6 1.1 6.8 1.3 373 198 271 102 81 25% 73% 27%
3890219 ETH-035 12 16 4 192.9 3.5 1.1 1.2 8.1 1.2 71.0 0.6 82.8 23.0 13.9 0.6 1.1 11.4 1.3 414 221 302 111 94 26% 73% 27%
3890220 ETH-035 16 20 4 159.7 4.7 2.3 1.2 10.4 1.2 60.7 0.6 79.9 20.5 15.1 1.2 1.1 19.4 1.3 379 219 265 114 95 26% 70% 30%
3890221 ETH-035 20 24 4 206.4 4.7 2.3 1.2 11.6 1.2 79.0 0.6 97.4 26.6 18.0 1.2 1.1 20.5 2.5 474 268 335 139 115 26% 71% 29%
3890222 ETH-035 24 28 4 265.3 7.6 2.3 1.7 16.2 1.2 97.4 0.6 120.1 33.8 22.0 1.8 1.1 30.7 2.5 **604 ** 339 427 178 143 25% 71% 29%
3890223 ETH-035 28 32 4 200.2 5.9 3.4 1.7 11.6 1.2 73.3 0.6 90.4 25.4 16.8 1.2 1.1 34.2 2.5 469 269 322 148 109 25% 69% 31%
3275997 ETH-036 2 8 6 30.7 15.2 1.7 1.2 0.6 2.3 1.1 0.6 11.7 3.6 2.3 0.6 1.1 1.1 14.0 88 57 61 27 29 17% 70% 30%
3275998 ETH-036 8 14 6 22.1 10.6 1.1 1.2 0.6 1.2 1.1 0.6 8.2 2.4 1.2 0.6 1.1 1.1 5.1 58 36 43 15 16 18% 74% 26%
3275999 ETH-036 14 18 4 31.9 16.4 1.1 1.2 0.6 1.2 1.1 0.6 12.2 3.6 1.7 0.6 1.1 1.1 3.8 78 46 64 14 18 20% 82% 18%
3276000 ETH-036 18 22 4 39.3 17.6 1.1 1.2 0.6 1.2 1.1 0.6 14.6 4.8 3.5 0.6 1.1 1.1 6.3 95 55 76 18 23 20% 81% 19%
3276001 ETH-037 2 8 6 177.4 72.5 3.9 1.6 0.8 8.6 1.1 0.6 77.3 23.0 13.8 1.0 1.1 1.5 18.5 403 225 350 52 101 25% 87% 13%
3276002 ETH-037 8 16 8 204.5 84.3 4.2 1.5 0.7 8.7 1.1 0.6 88.7 25.3 15.1 0.9 1.1 1.4 17.9 456 252 403 53 112 25% 88% 12%
3276003 ETH-037 16 20 4 177.8 68.9 4.6 1.6 0.7 7.7 1.1 0.6 79.5 23.0 14.6 0.8 1.1 1.3 18.7 **402 ** 224 349 53 104 25% 87% 13%
3890225 ETH-037 20 24 4 170.7 4.1 1.1 1.2 9.3 1.2 64.1 0.6 75.8 21.7 13.9 1.2 1.1 18.2 1.3 386 215 272 113 89 25% 71% 29%
3890226 ETH-037 24 28 4 189.2 4.7 2.3 1.2 10.4 1.2 72.2 0.6 89.2 24.2 16.2 1.2 1.1 22.8 1.3 438 248 307 130 104 26% 70% 30%
3890227 ETH-037 28 31 3 174.4 4.1 2.3 1.2 9.3 1.2 68.7 0.6 82.2 23.0 14.5 1.2 1.1 19.4 1.3 404 230 284 121 96 26% 70% 30%
3889418 ETH-039 0 6 6 72.5 2.3 1.1 0.6 4.6 1.2 33.2 0.6 28.0 9.7 5.8 0.6 1.1 9.1 1.3 172 99 112 59 36 22% 66% 34%
3889419 ETH-041 0 6 6 157.2 4.7 2.3 0.6 8.1 1.2 61.9 0.6 65.9 19.3 12.2 1.2 1.1 15.9 1.3 353 196 247 106 79 24% 70% 30%

Table 9. Ethiopia Prospect 2007 RAB drillhole bulk REE assay results

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ASX RELEASE 13 December 2021

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Table 10. Ethiopia Prospect 2007 RAB drillhole collars

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ASX RELEASE 13 December 2021

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JORC 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
downhole 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.
Adelaide Exploration Pty Ltd
• Rotary Air Blast (RAB) drill cuttings
were collected at 1 metre intervals and
contained in large plastic bags.
Samples for geochemical analysis
were collected as 6 metre composites
taken over the entire length of each
hole. The composites were collected
by taking equal volumes from the
contributing 1 metre bulk samples with
the resulting composites weighing
approximately 3-4 kilograms. A total
of 258 original composite samples
were collected. Additionally, eleven of
the original samples were duplicated
and submitted to the laboratory to
determine laboratory accuracy and
maintain quality control.
• The Competent Person has
referenced publicly sourced
information through the report and
considers that sampling was
commensurate with industry
standards current at the time of drilling
and is appropriate for the indication of
the presence of mineralisation.
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.).
• Ethiopia RAB holes ETH-01-41 –
drilled by Johannsen Drilling using drill
rig Edison 2000. Historical report no
other details provided.
• All holes were drilled using a small
diameter percussion hammer run on
RAB rods and in effect the drill method
can be considered as open hole
percussion.
• The Competent Person has
referenced publicly sourced
information through the report and
considers that drilling techniques was
commensurate with industry standards
current at the time of drilling and is
appropriate for the indication of the
presence of mineralisation.
Drill
Sample
Recovery
• Method of recording and assessing core
and chip sample recoveries and results
assessed.
• Ethiopia RAB holes ETH-01-41 -
historical report no details reported.

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Criteria JORC Code Explanation Commentary
• 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.
• Drill collar information, geological logs,
total count gamma scintillometer and
spectrometer readings and magnetic
susceptibility readings were recorded
in excel spreadsheets and made
available in appendices 1-5 of PACE
Report DPY4-33
Sub-
Sampling
Techniques
and Sample
Preparation
• If core, whether cut or sawn and
whether quarter, half or all cores 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.
Adelaide Exploration Pty Ltd
• Samples for geochemical analysis
were collected as 6 metre composites
taken over the entire length of each
hole. The composites were collected
by taking equal volumes from the
contributing 1 metre bulk samples with
the resulting composites weighing
approximately 3-4 kilograms.
• Additionally, eleven of the original
samples were duplicated and
submitted to the laboratory to
determine laboratory accuracy and
maintain quality control.
Archer Materials and iTech Minerals
• Kaolin rich intervals of the original
Adelaide Resources 2007 RAB drilling
were subsampled and submitted for
kaolin analysis at Bureau Veritas
based on visual estimates of
whiteness and kaolin content.
Additional samples were selected
based on elevated Ce values as an
indicator of TREO content.
• The Competent Person has
referenced publicly sourced
information through the report and
considers that sampling techniques
was commensurate with industry
standards current at the time of drilling
and is appropriate for the indication of
the presence of mineralisation.

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Criteria JORC Code Explanation Commentary
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) and precision
have been established.
Adelaide Exploration Pty Ltd
• Ethiopia RAB holes ETH-01-41 -
historical report, no geochemistry
details reported. However, duplicate
samples were deemed to be within an
acceptable range
• Total count gamma scintillometer
readings were made on each sample
obtained from all the drill holes. Total
counts were obtained using an
Exploranium 110 instrument.
• Where anomalous high counts were
recorded estimates of uranium (U
ppm), thorium (Th ppm) and
potassium (K %) were obtained using
an Exploranium GR-135G
spectrometer.
• Magnetic susceptibility readings were
made on all composited (6m) drill
samples using an Exploranium KT9
instrument
Archer Materials and iTech Minerals
• Kaolin rich intervals of the original
Adelaide Resources 2007 RAB drilling
were subsampled and submitted for
kaolin analysis at Bureau Veritas
using the following method
o
Screen with 45 micron screen
using cold water
o
Retain both fractions
o
Dry each fraction in low temp
over
o
Record masses.
o
Riffle split a 10gm (+45 and -45
fraction) for whole rock assay (14
element oxides) and LOI.
iTech Minerals

Samples submitted by Archer
materials were resubmitted for
ISO (B) brightness and rare earth
element
analysis
to
Bureau
Veritas. Industry standard blanks
and repeat analysis were used

The
samples
for
brightness
analysis
were
prepared
by
another
group
within
BV
Minerals. They were sized, at -45
µm, and a split was forwarded to
the
Mineralogy
team
for
brightness analysis

Discs were prepared from the
powdered sample using clear
plastic tube (25 mm ID x 22 mm
long), stainless steel pin (25 mm
OD), a ceramic tile, sample press
and a digital scale for measuring

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Criteria JORC Code Explanation Commentary
weight applied to the sample.

Brightness measurements were
generally conducted according to
(i) ISO 2469 Paper, board and
pulps - Measurement of diffuse
radiance
factor
(diffuse
reflectance factor) and (ii) ISO
2470-1 Paper, board and pulps -
Measurement of diffuse blue
reflectance factor Part 1: Indoor
daylight
conditions
(ISO
brightness). Modifications were
made, where appropriate, to
these ISO procedures due to the
difference between the materials
in this standard and the current
test samples (i.e. paper, board
and
pulps
versus
kaolinite/halloysite
containing
powders).

The Spectra Magic NX software
was activated and the CM-25d
spectrophotometer connected to
the computer.

Spectrophotometer
standards
provided with the unit (i.e. zero
and white) were run at the start of
each analysis session and every
2 hours thereafter.

A clean ceramic tile was placed
on the weighing balance. This tile
was used for the preparation of
the three replicates for each
sample - a new tile was used for
each additional sample.

A plastic tube was placed on the
ceramic tile and the sample
placed in it, to just below the top
of the tube. The steel pin was
then carefully lowered onto the
sample
and
the
tube/sample/pin/ceramic
tile
carefully moved to the press.

The arm of the press was moved
to achieve a weight of 20 kg on
the
digital
scale,
for
approximately 5 seconds. The
pressure was gradually released,
then the pin carefully removed.
This
resulted
in
a
disc
approximately 10 mm thick.

The disc was then inverted and
placed, along with 8 others, in a
800 Watt microwave and dried, at
full power, for 10 seconds. The
'dried'discs were then placed in a

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Criteria JORC Code Explanation Commentary
custom-made plastic holder, with
holes for 9 samples. These
samples were then analysed for
brightness
using
a
Konica-
Minolta
CM-25d
spectrophotometer. Each disc
was analysed three times, and
each
sample
had
3
discs
prepared.

REE analysis was undertaken by
Bureau Veritas using and ICP-
MS technique (Scheme IC4M).

Sample preparation was the
same as for the kaolin test work
undertaken by Archer Materials
as the same samples were used.

Both the +45 and -45 fraction
were analysed for REEs and the
bulk sample result was calculated
from the relative proportions and
REE values of each fraction.
Verification
of Sampling
and
Assaying
• The verification of significant
intersections by either independent or
alternative company personnel.
• The use of twinned holes.
• Documentation of primary data, data
entry procedures, data verification, data
storage (physical and electronic)
protocols.
• Discuss any adjustment to assay data.
• Ethiopia RAB holes ETH-01-41 -
historical report no details reported
• Rare earth element analyses were
originally reported in elemental form
but have been converted to relevant
oxide concentrations as in the industry
standard
o
TREO = La2O3+ CeO2+ Pr6O11+ Nd2O3
+ Sm2O3+ Eu2O3+ Gd2O3+ Tb4O7+
Dy2O3+ Ho2O3+ Er2O3+ Tm2O3+
Yb2O3+ Lu2O3+ Y2O3
o
CREO = Nd2O3+ Eu2O3+ Tb4O7+ Dy2O3
+ Y2O3
o
LREO = La2O3+ CeO2+ Pr6O11+ Nd2O3
o
HREO = Sm2O3+ Eu2O3+ Gd2O3+
Tb4O7+ Dy2O3+ Ho2O3+ Er2O3+
Tm2O3+ Yb2O3+ Lu2O3+ Y2O3
o
NdPr = Nd2O3+ Pr6O11
o
TREO-Ce = TREO - CeO2
o
% NdPr = NdPr/ TREO
o
%HREO = HREO/TREO
o
%LREO = LREO/TREO
Location of
Data Points
• Accuracy and quality of surveys used to
locate drillholes (collar and downhole
surveys), trenches, mine workings and
other locations used in Mineral
Resource estimation.
• Specification of the grid system used.
• Quality and adequacy of topographic
control.
Adelaide Exploration Pty Ltd
• No information reported on drill hole
location method or accuracy
• Ethiopia RAB holes ETH-01-41 –
Datum used was GDA94 MGA Zone
53
• No information reported on drill hole
location method or accuracy
Data
Spacing
• Data spacing for reporting of
Exploration Results.
Adelaide Exploration Pty Ltd
• Samples for geochemical analysis

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Criteria JORC Code Explanation Commentary
and
Distribution
• 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.
were collected as 6 metre composites
taken over the entire length of each
hole. The composites were collected
by taking equal volumes from the
contributing 1 metre bulk samples with
the resulting composites weighing
approximately 3-4 kilograms.
Archer Materials Ltd
• Sample compositing was applied on
the basis of the visual estimates of
whiteness and kaolin content.
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.
Adelaide Exploration Pty Ltd
• Ethiopia RAB holes ETH-01-41 –
Holes were drilled vertically which is
appropriate to sufficiently assess the
horizontally lying weathering profile
Sample
Security
• The measures taken to ensure sample
security.
• Ethiopia RAB holes ETH-01-41 -
historical report no details reported
Audits or
Reviews
• The results of any audits or reviews of
sampling techniques and data.
• None undertaken.

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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 the tenure held at the
time of reporting along with any known
impediments to obtaining a licence to
operate in the area.
• Tenement status confirmed
on SARIG.
• The tenements are in good
standing with no known
impediments.
Exploration Done by
Other Parties

Acknowledgment and appraisal of
exploration by other parties.
• Relevant previous
exploration has been
undertaken by Shell
Company of Australia Pty
Ltd, Adelaide Exploration Pty
Ltd and Archer Materials Ltd
• See body of report for details
on previous exploration
Geology
Deposit type, geological setting and style
of mineralisation.

• The tenements are within the
Gawler Craton, South
Australia.
• iTech is exploring for
porphyry Cu-Au, epithermal
Au, kaolin and halloysite and
REE deposits.
• This release refers to kaolin
mineralisation and ion
adsorption rare earth
elements mineralisation
related to lateritic weathering
processes on basement rock
of the Gawler Craton, in
particular the
Palaeoproterozoic Miltalie
Gneiss and Warrow
Quartzite.
• See body of the report for
description of the geology in
more detail.
Drillhole 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:

Easting and northing of the drill hole
collar

Elevation or RL (Reduced Level –
elevation above sea level in metres)
of the drill hole collar
• Refer to Appendix 1, Table
10 of this report for details

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Criteria JORC Code Explanation Commentary

Dip and azimuth of the hole

Downhole length and interception
depth

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
clearlyexplain whythis is the case.
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.
• Archer Materials kaolin
analysis intervals were
aggregated using no lower or
upper cut-offs.
• Adelaide Exploration U, Th
and Ce intervals were
aggregated using a 100 ppm
Ce lower cut-off and with no
high cut
• iTech Minerals REE analysis
intervals were aggregated
using a lower cut-off of
200ppm TREO with no upper
limit applied
Relationship
Between
Mineralisation
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 downhole
lengths are reported, there should be a
clear statement to this effect (e.g.,
‘downhole length,true width not known’).
• Ethiopia RAB holes ETH-01-
41 – holes were drilled
vertically which is
appropriate to sufficiently
assess the horizontally lying
weathering profile and kaolin
and REE 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 main 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.
Adelaide Exploration Pty Ltd -
2006
• Rock chip samples EU016-
EU018 were submitted to
Amdel Ltd for multielement
geochemistry using assay
codes FA3, IC3E, IC3M,
IC3R and XRF1and were the
only samples assayed for
REE and therefore the only
samples reported in this

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Criteria JORC Code Explanation Commentary
announcement. Detection
limits are considered
appropriate for the style of
mineralisation.
• All other relevant data has
been reported
• The reporting is considered
to be balanced.
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.
• The Project area has been
subject of significant
exploration for base metals,
graphite and gold.
• See body of report for details
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 commerciallysensitive.
• Further exploration sampling
geochemistry and drilling
required at all prosects

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