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LEGEND MINING LIMITED Capital/Financing Update 2018

Jan 21, 2018

65223_rns_2018-01-21_41f6ad2f-1d7e-4e0f-9f08-6fca8c5d846b.pdf

Capital/Financing Update

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ASX:LEG

22 January 2018 ASX Announcement

Resample Assay Results and New Aircore Drill Programme Rockford Project

  • 1m assays from drillholes RKAC151 and RKAC167 at Area D have confirmed anomalous Ni-Cu-Co from original 4m composite samples

  • RKAC151: 47m @ 0.30% Ni, 0.11% Cu, 0.03% Co from 64m to end of hole Incl. 10m @ 0.23% Ni, 0.25% Cu, 0.03% Co from 64m Incl. 6m @ 0.38% Ni, 0.15% Cu, 0.03% Co from 96m

  • RKAC167: 10m @ 0.09% Ni, 0.09% Cu, 0.01% Co from 56m to end of hole Incl. 4m @ 0.14% Ni, 0.16% Cu, 0.02% Co from 59m

  • Further aircore drilling planned at Area D

Aircore drilling at Area D in November 2017 identified two drillholes, (RKAC151 and RKAC167) with anomalous nickel, copper and cobalt results from 4m composite samples at Legend’s Rockford Project in the Fraser Range of Western Australia. Resampling of these holes at 1m intervals was completed in December 2017 aimed at providing detailed geochemical information within the regolith profile.

Legend Managing Director Mark Wilson said, “These results are essentially a repeat of the earlier assays and confirm that the 4m composite sampling methodology that we are employing gives an accurate indication of nickel, copper and cobalt numbers. The new aircore programme is designed to investigate the anomalous geochemical footprint around holes RKAC151 and RKAC167 and more interesting magnetic/gravity features at Area D”.

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Figure 1: Area D Aircore Drillholes on Aeromagnetics with New 1m Results

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Technical Discussion

Aircore drilling at Area D in November 2017 identified two drillholes, (RKAC151 and RKAC167) with anomalous Ni-Cu-Co results from 4m composite samples, (ASX releases 11 and 18 December 2017). Resampling of these anomalous intersections at 1m intervals was completed in December 2017 (RKAC151 over 60-111m and RKAC167 over 56-66m) aimed at providing detailed geochemical information within the regolith profile.

Full multi-element assay results from the 1m resampling in both drillholes have been received, showing a very close correlation to the original 4m composite sampling, see Table 1 for comparison. Importantly, the presence of anomalous copper values associated with the nickel was confirmed, reinforcing the prospectivity of Area D.

Table 1: Area Table 1: Area D- Aircore Drillhole RKAC151 & RKAC167 Assay Comparison D- Aircore Drillhole RKAC151 & RKAC167 Assay Comparison D- Aircore Drillhole RKAC151 & RKAC167 Assay Comparison D- Aircore Drillhole RKAC151 & RKAC167 Assay Comparison D- Aircore Drillhole RKAC151 & RKAC167 Assay Comparison D- Aircore Drillhole RKAC151 & RKAC167 Assay Comparison D- Aircore Drillhole RKAC151 & RKAC167 Assay Comparison
Drillhole Sample Int.
From
To Int. Ni % Cu %
Co %
Lithology
RKAC151 1m 64 111 EOH 47 0.30 0.11 0.03 Clay/Saprock/Gabbronorite
RKAC151 4m 64 111 EOH 47 0.29 0.12 0.03 Clay/Saprock/Gabbronorite
RKAC167 1m 56 66 EOH 10 0.09 0.09 0.01 Saprolite/Saprock/Mafic
RKAC167 4m 56 66 EOH 10 0.09 0.10 0.01 Saprolite/Saprock/Mafic
  • RKAC151 collar details: 638602E / 6598395N, GDA94 MGA Zone 51, Dip -90[0] , Azimuth 0[0] .

  • Only residual profile sampled in RKAC151 (60-111m) - top 60m comprises transported cover.

  • RKAC167 collar details: 638999E / 6596799N, GDA94 MGA Zone 51, Dip -90[0] , Azimuth 0[0] .

  • Only residual profile sampled in RKAC167 (56-66m) - top 56m comprises transported cover.

Whilst the broad interval results from the 1m and 4m composite sampling are similar, the 1m results have identified several narrower intervals with higher grades, see Table 2 below.

Table 2: Area D Table 2: Area D - Aircore Drillhole RKAC151 & RKAC167 1m Assays - Aircore Drillhole RKAC151 & RKAC167 1m Assays - Aircore Drillhole RKAC151 & RKAC167 1m Assays - Aircore Drillhole RKAC151 & RKAC167 1m Assays - Aircore Drillhole RKAC151 & RKAC167 1m Assays
Drillhole From
To
Int. Ni % Cu % Co % Lithology
RKAC151 64 111 EOH 47 0.30 0.11 0.03 Clay/Saprock/Gabbronorite
Incl. 64 74 10 0.23 0.25 0.03 Saprock/Weathered Mafic
Incl. 96 102 6 0.38 0.15 0.03 Saprock/Weathered Mafic
Incl. 106 111 EOH 5 0.43 0.06 0.02 Saprock/Gabbronorite
RKAC167 56 66 EOH 10 0.09 0.09 0.01 Saprolite/Saprock/Mafic
Incl. 59 63 4 0.14 0.16 0.02 Saprock/Mafic

Maximum nickel and copper values from individual 1m samples included: RKAC151: 1m @ 0.47% Ni from 99m (with associated 0.18% Cu, 0.04% Co) 1m @ 0.43% Cu from 71m (with associated 0.25% Ni, 0.03% Co) RKAC167: 1m @ 0.17% Ni from 60m (with associated 0.17% Cu, 0.02% Co) 1m @ 0.18% Cu from 62m (with associated 0.14% Ni, 0.02% Co)

The same anomalous Ni-Cu-Co intervals in RKAC151 and RKAC167 were also analysed by the HyLogger[TM] spectral analyser to provide detailed mineralogical information not possible from visual logging of the aircore drill chips. The analysis of the Fe-rich clays and goethite material in RKAC151 revealed a dominance of kaolinite, montmorillonite and

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goethite in the profile. This is entirely consistent with the advanced weathering of the olivine gabbronorite bedrock identified by petrology of the bottom of hole sample.

Future Programmes

  • Infill aircore drilling adjacent to drillholes RKAC151 and RKAC167 to determine the extent of the anomalous Ni-Cu-Co footprint.

  • Complete final 20 holes of 2017 aircore programme at Area D.

  • Complete additional drill traverses over other aeromagnetic and gravity features at

  • Area D.

  • Results from the aircore drilling will be used to assist design of follow-up MLTEM

  • surveying.

  • Further evaluation of previously identified EM conductors at Areas D, J, Q and U.

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Figure 2: Area D Location

R&D Tax Refund

Legend received a $1,303,462 R&D refund on its FY2017 tax return on 17 January 2018. The experimental innovative moving loop electromagnetic programmes are ongoing for the FY2018 and are expected to result in further R & D refunds.

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Competent Person Statement

The information in this report that relates to Exploration Results is based on information compiled by Mr Derek Waterfield, a Member of the Australian Institute of Geoscientists and a full time employee of Legend Mining Limited. Mr Waterfield has sufficient experience that is relevant to the styles of mineralisation and types of deposit under consideration, and to the activity 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” (JORC Code). Mr Waterfield consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Visit www.legendmining.com.au for further information and announcements.

For more information:

Mr Mark Wilson Managing Director Ph: (08) 9212 0600

Mr Derek Waterfield Executive Director - Technical Ph: (08) 9212 0600

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Appendix 1: Aircore Drillhole Details

Drillhole Easting Northing RL (m) Dip Azimuth Depth (m)
RKAC140 634201 6598398 202 -90 0 51
RKAC141 634600 6598403 202 -90 0 65
RKAC142 634998 6598391 202 -90 0 70
RKAC143 635405 6598400 202 -90 0 84
RKAC144 635804 6598399 202 -90 0 104
RKAC145 636201 6598401 202 -90 0 91
RKAC146 636601 6598398 203 -90 0 107
RKAC147 637001 6598403 202 -90 0 100
RKAC148 637391 6598408 203 -90 0 98
RKAC149 637798 6598394 202 -90 0 92
RKAC150 638201 6598406 203 -90 0 72
RKAC151 638602 6598395 203 -90 0 111
RKAC152 639018 6598413 204 -90 0 49
RKAC153 639403 6598394 206 -90 0 67
RKAC154 639803 6598402 205 -90 0 93
RKAC155 640604 6598408 205 -90 0 63
RKAC156 640993 6598397 203 -90 0 113
RKAC157 641402 6598413 202 -90 0 134
RKAC158 641799 6598400 202 -90 0 141
RKAC159 640203 6598398 202 -90 0 102
RKAC160 638952 6598407 202 -90 0 51
RKAC161 639001 6599604 202 -90 0 72
RKAC162 639004 6599203 202 -90 0 71
RKAC163 639000 6598801 202 -90 0 47
RKAC164 639004 6597599 206 -90 0 49
RKAC165 639004 6598002 207 -90 0 78
RKAC166 639001 6597199 206 -90 0 90
RKAC167 638999 6596799 206 -90 0 66
RKAC168 639000 6596401 206 -90 0 87
RKAC169 638998 6596003 204 -90 0 63
RKAC170 639002 6595603 204 -90 0 81
RKAC171 635802 6596805 203 -90 0 76
RKAC172 635805 6597207 204 -90 0 76
RKAC173 635801 6597606 201 -90 0 98
RKAC174 635803 6598006 201 -90 0 74
RKAC175 637409 6599595 203 -90 0 132
RKAC176 637400 6599195 203 -90 0 74
RKAC177 637400 6598800 204 -90 0 115
RKAC178 637400 6597999 202 -90 0 97
RKAC179 637397 6597602 202 -90 0 95
RKAC180 637393 6597205 202 -90 0 95

Note: Co-ordinates GDA94 MGA Zone 51

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Appendix 2:

Legend Mining Ltd – Aircore Drilling Programme Rockford Project – Area D JORC Code Edition 2012: Table 1

Section 1: Sampling Techniques and Data


Criteria

JORC Code Explanation
Commentary
Sampling techniques • Nature and quality of sampling
(e.g. cut channels, random chips,
or specific specialised industry
standard measurement tools
appropriate to the minerals under
investigation, such as down hole
gamma sondes, or handheld
XRF instruments, etc.). These
examples should not be taken as
limiting the broad meaning of
sampling.
• Include reference to measures
taken to ensure sample
representivity and the
appropriate calibration of any
measurement tools or systems
used.
• Aspects of the determination of
mineralisation that are Material
to the Public Report. In cases
where ‘industry standard’ work
has been done this would be
relatively simple (e.g. ‘reverse
circulation drilling was used to
obtain 1 m samples from which 3
kg was pulverised to produce a
30 g charge for fire assay’). In
other cases more explanation
may be required, such as where
there is coarse gold that has
inherent sampling problems.
Unusual commodities or
mineralisation types (e.g.
submarine nodules) may warrant
disclosure of detailed
information.




•Aircore drilling was undertaken on broad
spaced traverses testing aeromagnetic
and gravity targets.
•The residual (non-transported) portion
only of each drillhole was originally
sampled as 4m composites to the end of
hole, with a 1m bottom of hole sample
also collected. All samples weighed 2-
3kg.
•Resampling at 1m intervals has been
completed over selected composited
intervals returning anomalous Ni, Cu, Co
results.
•QAQC standards and duplicate samples
were included routinely (approximately 1
each every 50 samples).
•Samples were submitted to an
independent commercial assay
laboratory.
•Au, Pt, Pd was analysed by fire assay
with an ICP-OES finish. A four acid
digest with ICP-MS finish was used for a
multi-element suite including: Ag, Al, As,
Ba, Be, Bi, Ca, Cd, Ce, Co, Cr, Cs, Cu,
Dy, Er, Eu, Fe, Ga, Gd, Ge, Hf, Ho, In, K,
La, Li, Lu, Mg, Mn, Mo, Na, Nb, Nd, Ni,
P, Pb, Pr, Rb, Re, S, Sb, Sc, Se, Sm, Sn,
Sr, Ta, Tb, Te, Th, Ti, Tl, Tm, U, V, W, Y,
Yb, Zn, Zr.
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.).
•The aircore drilling technique was used,
utilising a 85mm bit and completed by
Drillpower.
Drill sample recovery • Method of recording and
assessing core and chip sample
recoveries and results assessed.
• Measures taken to maximise
sample recovery and ensure
representative nature of the
samples.
•Sample recoveries are visually estimated
for each metre by the supervising rig
geologist with poor or wet samples
recorded in drill and sample log sheets.
•The sample cyclone is routinely cleaned
at the end of each rod (3m) and when
deemed necessary.

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Criteria JORC Code Explanation Commentary
• 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.
•No relationship has been determined
between sample recoveries and grade
and there is insufficient data to determine
if there is a 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.
•Geological logging of all drillholes
included; lithology, grainsize, texture,
deformation, mineralisation, alteration,
veining, colour, weathering.
•Logging is qualitative and based on 1m
intervals. Representative drill chips from
the bottom of hole are retained in chip
trays.
•All drillholes were logged in their entirety.
Sub-sampling
techniques and sample
preparation
• If core, whether cut or sawn and
whether quarter, half or all core
taken.
• If non-core, whether riffled, tube
sampled, rotary split, etc. and
whether sampled wet or dry.
• For all sample types, the nature,
quality and appropriateness of
the sample preparation
technique.
• Quality control procedures
adopted for all sub-sampling
stages to maximise
representivity of samples.
• Measures taken to ensure that
the sampling is representative of
the in situ material collected,
including for instance results for
field duplicate/second-half
sampling.
• Whether sample sizes are
appropriate to the grain size of
the material being sampled.
•All aircore drill samples were collected
using a PVC spear or scoop as 4m
composites (2-3kg). Other composites of
2m, 3m and 5m and individual 1m
samples were collected where required,
i.e. bottom of hole. Both wet and dry
samples were collected.
•The samples are dried and pulverised
before analysis.
•QAQC reference samples and duplicates
were routinely submitted with each
sample batch.
•The size of the sample is considered
appropriate for the mineralisation style
sought and for the analytical technique
used.
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,

•Aircore samples were analysed for Au by
50g fire assay with an ICP-MS finish, and
for a multi-element suite by ICP-MS
following a four acid digest. These assay
methods are considered appropriate.
•QAQC standards and duplicate samples
were included routinely (approximately 1
each every 50 samples). In addition
reliance is placed on laboratory
procedures and internal laboratory batch
standards and blanks.
•Allsampleswere analysed byIntertek

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Criteria JORC Code Explanation Commentary
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.
Genalysis Laboratory Services Perth
using methods; FA25/MS (Au, Pt, Pd),
4A/MS48 (multi-elements) and
4A/MS48R (REE extended suite).
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.
•Primary data was collected in the field
using a set of standard logging templates
and entered into a laptop computer. The
data was forwarded to Legend’s
database manager for validation and
loading into the company’s drilling
database.
•No adjustments of assay results have
been undertaken.
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.
•Aircore drillhole collars are surveyed with
a handheld GPS unit with an accuracy of
±5m which is considered sufficiently
accurate for the purpose of the drillhole.
•All co-ordinates are expressed in GDA94
datum, Zone 51.
•Regional topographic control has an
accuracy of ±2m based on detailed DTM
data.
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.
•Aircore drill traverses are not regular or
grid based, with the location of traverses
governed by aeromagnetic/gravity
targets.
•Individual drillholes along traverses are
spaced at 400m with minor infill to
200m/100m were deemed necessary.
•Drillholes are sampled in the residual
portion of the profile only as 4m
composites on a routine basis or as 2m,
3m and 5m composites at the end of
holes as required. Where anomalous
values are returned, 1m samples may be
submittedforassay.
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
•The orientation of the aircore drill
traverses and broad spacing of the
individual drillholes is considered to
achieve unbiased sampling.

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Criteria JORC Code Explanation Commentary
should be assessed and
reported if material.
Sample security • The measures taken to ensure
sample security.
•Individual calico sample bags were
placed in polyweave bags and delivered
directly to the assay laboratory prep
facility in Kalgoorlie by company
personnel.
Audits or reviews • The results of any audits or
reviews of sampling techniques
and data.
•Internal audits/reviews of procedures are
ongoing, however no external reviews
have been undertaken.
Section 2:ReportingofExplorationResults
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.
•The Rockford Project comprises twelve
granted exploration licences, covering
2,792km2.
•Rockford JV tenements: E28/2188-2192
(70% Legend, 30% Rockford Metals Pty
Ltd), E28/1718 & E28/1727 (70% Legend,
30% Ponton Minerals Pty Ltd).
•Legend 100% owned: E28/2404-2405,
E28/2675-2677.
•The Project is located 280km east of
Kalgoorlie mostly on vacant crown land
with the eastern portion on Kanandah
Pastoral Station.
•There are no Native Title Claims over
tenements E28/2188-2192, E28/2405 &
E28/2675-2677. Tenements E28/1718,
E28/1727 & E28/2404 are covered 90%,
20% and 100% respectively by the
Ngadju Native Title Claim.
•The tenements are in good standing and
there are no known impediments.
Exploration done by
other parties
• Acknowledgment and
appraisal of exploration by
other parties.
•Not applicable, not referred to.
Geology • Deposit type, geological
setting and style of
mineralisation.
•The primary target is Nova style nickel-
copper mineralisation hosted in high
grade mafic granulites within the Fraser
Complex.
•A secondary target is Tropicana style
structurally controlled gold
mineralisation.
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:
• 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 table of collars in Appendix 1.
Criteria JORC Code Explanation Commentary
should be assessed and
reported if material.
Sample security • The measures taken to ensure
sample security.
•Individual calico sample bags were
placed in polyweave bags and delivered
directly to the assay laboratory prep
facility in Kalgoorlie by company
personnel.
Audits or reviews • The results of any audits or
reviews of sampling techniques
and data.
•Internal audits/reviews of procedures are
ongoing, however no external reviews
have been undertaken.
Section 2:ReportingofExplorationResults
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.
•The Rockford Project comprises twelve
granted exploration licences, covering
2,792km2.
•Rockford JV tenements: E28/2188-2192
(70% Legend, 30% Rockford Metals Pty
Ltd), E28/1718 & E28/1727 (70% Legend,
30% Ponton Minerals Pty Ltd).
•Legend 100% owned: E28/2404-2405,
E28/2675-2677.
•The Project is located 280km east of
Kalgoorlie mostly on vacant crown land
with the eastern portion on Kanandah
Pastoral Station.
•There are no Native Title Claims over
tenements E28/2188-2192, E28/2405 &
E28/2675-2677. Tenements E28/1718,
E28/1727 & E28/2404 are covered 90%,
20% and 100% respectively by the
Ngadju Native Title Claim.
•The tenements are in good standing and
there are no known impediments.
Exploration done by
other parties
• Acknowledgment and
appraisal of exploration by
other parties.
•Not applicable, not referred to.
Geology • Deposit type, geological
setting and style of
mineralisation.
•The primary target is Nova style nickel-
copper mineralisation hosted in high
grade mafic granulites within the Fraser
Complex.
•A secondary target is Tropicana style
structurally controlled gold
mineralisation.
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:
• 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 table of collars in Appendix 1.

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Criteria JORC Code Explanation Commentary
• dip and azimuth of the hole
• down hole 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 clearly explain why
this 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.

•Weighted averaging based on sample
interval has been used in the reporting of
the aircore drilling results.
•No short length high grade results were
returned (therefore not included in
aggregate intercepts) and no metal
equivalent values have been reported.
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
down hole lengths are reported,
there should be a clear
statement to this effect (e.g.
‘down hole length, true width not
known’).
•The geometry of anomalous nickel-
copper assays with respect to the aircore
drilling angle and orientation is unknown.
•All drillhole intercepts are measured
downhole in metres.
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.
•Project location and drillhole location
maps have been included in the body of
the report.
Balanced reporting • Where comprehensive reporting
of all Exploration Results is not
practicable, representative
•All significant results are reported.

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Criteria JORC Code Explanation Commentary
reporting of both low and high
grades and/or widths should be
practiced to avoid misleading
reporting of Exploration Results.
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.

•Detailed high quality aeromagnetic and
gravity datasets have been used in the
targeting of the aircore drilling.
Further work • The nature and scale of planned
further work (e.g. tests for lateral
extensions or depth extensions
or large-scale step-out drilling).
• Diagrams clearly highlighting the
areas of possible extensions,
including the main geological
interpretations and future drilling
areas, provided this information
is not commercially sensitive.
•Further aircore drilling along with moving
and fixed loop electromagnetic surveying
is planned.

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