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LEGEND MINING LIMITED Capital/Financing Update 2023

Aug 30, 2023

65223_rns_2023-08-30_7a5bd7ef-904c-4a29-ae9a-21dbdd5ca06f.pdf

Capital/Financing Update

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ASX Announcement

ASX:LEG

31 August 2023

Octagonal exploration activity update

HIGHLIGHTS

  • Diamond drillhole OCDD005 intersects intrusion/metasedimentary mixing zone at depth with magnetite and pyrrhotite the source of the AMT feature

  • Downhole EM (DHTEM) is scheduled for completion on OCDD005

  • New High-Power Fixed Loop Electro-Magnetics (HPFLTEM) survey over the entire Octagonal prospect designed to identify large sulphide bodies at depth

  • Future diamond drillhole planning pending outcome of HPFLTEM survey results

Legend Mining Limited (Legend) is pleased to provide an update on the diamond drilling and exploration activities at the Octagonal prospect within the Rockford Project, Fraser Range, Western Australia (see Figures 1 and 4).

Legend Executive Chair, Mr Mark Wilson said: “The AMT feature which hole 5 was designed to test turned out to be largely magnetite and pyrrhotite, which explains the lack of significant nickel-copper sulphide in this hole. Whilst we need to await the DHTEM results and structural analysis to appreciate the totality of information from this hole in particular, the results from the recent 4-hole programme have not reduced the overall prospectivity of Octagonal. These drillholes represent the first steps in unlocking the nickel-copper sulphide potential at Octagonal.

“From the information to date, it is becoming increasingly apparent that the best mineralisation is on the eastern flank of the prospect. This is further evidenced by the 4 conductors from DHTEM in hole 4.

“A decision has been made to conduct a large high powered EM survey over Octagonal with the design capacity to identify conductive responses below a depth of 600m. This is expected to deliver EM data which along with the seismic and other data sets will give us the next generation of diamond drill targets.”

==> picture [483 x 94] intentionally omitted <==

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TECHNICAL DISCUSSION

Exploration activities continue at the Octagonal prospect at the time of writing. Below is a summary of the exploration activities at Target Area B and Target Area C.

TARGET AREA B

Key takeaways from OCDD005 - Target Area B:

  • Intrusion extends at depth, with increased carbonate digestion proximal to the basal contact

  • Mixing zone of intrusion and metasediment supports the working model that the Octagonal Intrusive Complex (OIC) cracks into the surrounding metasediments

  • Sulphide decreased toward the west of the OIC, vectoring for mineralisation to targeting towards the eastern margins of the OIC

  • Critical structural data to further understand the controls of the OIC

  • OCDD005 provides an excellent DHTEM platform

==> picture [486 x 431] intentionally omitted <==

Figure 1: Priority target areas and diamond drillholes shown with Octagonal intrusion model, IP anomalies, 2D & 3D AMT anomalies, and visual Ni-Cu mineralisation on AMAG.

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Diamond drillhole OCDD005 targeted a coincidental seismic and AMT zone of the Octagonal intrusion (see Figures 1 and 2). The drillhole was completed at a bottom of hole depth of 1,662m. The seismic zone and associated AMT feature are now confirmed as a mixing zone of digested metasediments and gabbroic intrusions. Indications are the AMT feature is derived from magnetite and pyrrhotite within this mixing zone. The drillhole intersected an upper suite of gabbronorites and leucocratic gabbronorites before intersecting a varied suite of higher MgO intrusion consisting of olivine gabbronorites, pyroxenites, and troctolites, with weakly mineralised zones. Extensive carbonate digestion in the mixing zone of intrusion and metasediments towards the basal contact supports the visual observations in OCDD004 that the Octagonal intrusion cracks into the underlying and surrounding metasediments. Reduced sulphide content in the drillhole suggests the sulphide content of the OIC decreases towards the west. This is an important indicator, with strong evidence from completed drilling suggesting that sulphide content of the OIC increases towards the eastern margins. This vectoring will allow for more focused drillhole targeting. OCDD005 will provide valuable structural information in an area of the OIC not previously drilled, allowing the integration of physical structural data with seismic responses to map folding. This folding is a primary control of the OIC geometry.

DHTEM is scheduled to be completed on OCDD005 at the time of writing.

==> picture [482 x 414] intentionally omitted <==

Figure 2: Section C-C’ showing drillholes OCDD002, OCDD004 and OCDD005 on seismic section and DHTEM conductors, downhole geology and structure, the Octagonal intrusion and interpreted intrusion, and AMT targets .

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TARGET AREA C

DHTEM has been completed on drillhole OCDD004 and the associated models received (see Figures 1, 2 and Table 1). Four off-hole conductors have been identified, two interpreted to be relating to mineralisation inside the Octagonal intrusion and along the eastern hanging wall contact.

The observed increase in sulphide content and tenor in OCDD004 and DHTEM response has given encouragement to deploy a new High Power Fixed Loop Electro-Magnetics (HPFLTEM) across Octagonal, with the aim to identify large sulphide bodies at depth (see Figure 3). Forward modelling conducted during the HPFLTEM programme design suggests large sulphide accumulations should be detectable below 600m depth with the large loop, high current, and ultra-low frequency parameters of the purpose-designed survey. The survey will commence in the coming weeks.

==> picture [471 x 417] intentionally omitted <==

Figure 3: Octagonal plan view showing proposed HPFLTEM survey loops and the interpreted Octagonal intrusion model projected to surface on AMAG.

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Table 1: DHTEM Conductor Parameters Table 1: DHTEM Conductor Parameters Table 1: DHTEM Conductor Parameters Table 1: DHTEM Conductor Parameters
Conductor Conductance Dimensions Plate Orientation
Depth to Plate
Plate Dip
OCDD004_1
(Off-hole)
~1,250-1,750S
50m x >50m
ENE-WSW ~470m downhole 55-650NW
OCDD004_2
(Off-hole)
~1,250-1,750S
50m x >50m
ENE-WSW ~565m downhole 55-650NW
OCDD004_3
(Off-hole)
~1,250-1,750S >300m x >100m NE-SW ~800m downhole 55-650NW
OCDD004_4
(Off-hole)
~1,000-1,500S >300m x >200m NE-SW ~665m downhole 65-800SE

Table 1: DHTEM conductors from OCDD004

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FUTURE OCTAGONAL PROGRAMME

  • DHTEM on OCDD005

  • Detailed structural analysis of completed drillholes

  • Downhole petrophysics on completed drillholes

  • HPFLTEM across the Octagonal intrusion

  • Assaying of selected intervals

==> picture [458 x 399] intentionally omitted <==

Figure 4: Rockford Project Prospect Locations on Gravity.

Authorised by Oliver Kiddie, Managing Director.

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Appendix 1 – Summary Drill Log of Ni-Cu Mineralisation

Hole Interval Sulphide Mode Sulphide Type Sulphide %
(Visual Estimate)
OCDD005 591.75m – 591.95m Disseminated & Blebby
Pyrrhotite-chalcopyrite-
pentlandite
1% - 5%
OCDD005 1251.1m – 1252.42m Disseminated & Blebby
Pyrrhotite-chalcopyrite-
pentlandite
1% - 5%
OCDD005 1381.94 – 1382.3 Disseminated & Blebby
Pyrrhotite-chalcopyrite-
pentlandite
1% - 5%

Cautionary Statement: The sulphide percentage is a visual estimate of total sulphide. Visual estimates should never be considered a proxy or substitute for laboratory analysis where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations.

Legend regularly uses a portable XRF (pXRF) analyser to screen diamond drill core for mineralisation prior to cutting and sampling. This allows for understanding of the distribution of mineralisation prior to sampling to better ensure that the sampled core is representative of the type and style of mineralisation. Readings are obtained and recorded for future reference. The pXRF provides confirmation that mineralisation is present however it is not an accurate determination of the elemental concentration within the sample analysed. Limitations include; very small analysis window, possible inhomogeneous distribution of mineralisation, analytical penetration depth and possible effects from irregular rock surface. The pXRF readings are subject to confirmation by chemical analysis from an independent laboratory. Assay results are expected to be received for selected sample intervals during the September and December 2023 Quarters.

Appendix 2 – Octagonal Diamond Drillhole Details

Hole Type MGA2020-East MGA2020-North RL Azimuth Dip Total Depth
OCDD002 DD 601,685 6,602,095 267 306 -70 1,031.0m
OCDD003 DD 603,595 6,604,425 263 034 -65 909.4m
OCDD004 DD 602,280 6,601,245 266 300 -65 1,710.8m
OCDD005 DD 601,457 6,602,256 267 302 -70 1,662.0m

Co-ordinates GDA2020 Zone 51

Appendix 3 - Legend Field Logging Guidelines

Appendix 3 - Legen
Sulphide Mode **Percentage Range **
Disseminated & blebby 1-5%
HeavyDisseminated 5-20%
Matrix 20-40%
Net-Textured 20-40%
Semi-Massive >40% to <80%
Massive >80%

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Competent Person Statement

The information in this report that relates to Exploration Results is based on information compiled by Mr Oliver Kiddie. Mr Kiddie is a Member of the Australasian Institute of Mining and Metallurgy and a full-time employee of Legend Mining Limited. Mr Kiddie 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 Kiddie consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The information in this report that relates to Legend’s Exploration Results is a compilation of previously released to ASX by Legend Mining (28 March 2023, 20 April 2023, 17 May 2023, 5 June 2023, 27 June 2023, and 31 July 2023). Mr Oliver Kiddie consents to the inclusion of these Results in this report. Mr Kiddie has advised that this consent remains in place for subsequent releases by Legend of the same information in the same form and context, until the consent is withdrawn or replaced by a subsequent report and accompanying consent. Legend confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that all material assumptions and technical parameters in the market announcements continue to apply and have not materially changed. Legend confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements.

Forward Looking Statements

This announcement contains “forward-looking statements” within the meaning of securities laws of applicable jurisdictions. Forward-looking statements can generally be identified by the use of forward-looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “believe”, “continue”, “objectives”, “outlook”, “guidance” or other similar words, and include statements regarding certain plans, strategies and objectives of management and expected financial performance. Forward-looking statements are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance. These forward-looking statements are based upon a number of estimates, assumptions and expectations that, while considered to be reasonable by Legend Mining Limited, are inherently subject to significant uncertainties and contingencies, involve known and unknown risks, uncertainties and other factors, many of which are outside the control of Legend Mining Limited and any of its officers, employees, agents or associates.

Actual results, performance or achievements may vary materially from any projections and forward-looking statements and the assumptions on which those statements are based. Exploration potential is conceptual in nature, to date there has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource. Readers are cautioned not to place undue reliance on forwardlooking statements and Legend Mining Limited assumes no obligation to update such information made in this announcement, to reflect the circumstances or events after the date of this announcement.

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

For more information contact: Mr Mark Wilson Mr Oliver Kiddie Executive Chair Managing Director Ph: +61 8 9212 0600 Ph: +61 8 9212 0600

Ph: +61 8 9212 0600

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Appendix 4:

Legend Mining Ltd – Octagonal Diamond Drilling Programme - Rockford Project 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.
HiSeis Pty Ltd conducted a ground
seismic survey between 7 November and
24 November 2022, with survey details
below.

Equipment area coverage: ~19.2
km2

Total receivers: 10 986

Total source points: 8357

Sample rate: 2 ms

Record length: 3 s

Source: INOVA AHV-IV (60000 lb)

Source array: 1 x AHV-IV

Source number: 2 ping pong
Recording Filters:

Hi-cut: 0.8 Nyquist set to 205 Hz

Notch: out

Diversity stack: no
Source Parameters:

Source spacing: 18m

Source line spacing: 108m (central
area), 216m (outer area)

Sweep frequency: 3-180 Hz

Sweep length: 20 s

Sweep type: -0.8 db/oct

Source array: stacked

Tapers: 750 ms start and 350 ms
end

Maximum source gaps: as required
for safety

Drive level: 65%
Receiver Parameters:

Group spacing: 18 m

Receiver line spacing: 108m (central
area), 216m (outer area)

Geophone type: Quantum 5 Hz
(geophone (PS-5GR)) and STRYDE
10 Hz (accelerometer)

Case: land

Frequency: 5 Hz and 10 Hz

Geophones per group: 1

Geophone spacing: 18 m

No diamond drill core sampling has
been undertaken.
Drilling techniques • Drill type (e.g., core, reverse
circulation, open-hole hammer,
rotary air blast, auger, Bangka,
sonic, etc.) and details (e.g.,
•Diamond drillhole OCDD005 was pre-
collared using the mud rotary
technique.
•No sampleswererecoveredfromthe

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Criteria JORC Code Explanation Commentary
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.).
mud rotary pre-collar.
•The remainder of the hole was
diamond drilled with HQ then NQ
coring to end of hole.
•Terra Drilling completed the diamond
drilling.
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.
• 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.
•Drill core sample recoveries for the
HQ-NQ core were measured and
recorded in drill log sheets.
•Drill core orientation was recorded
when possible at the end of each drill
run (line on bottom of core).
•No diamond drill core sampling has
been undertaken.
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 drillhole
OCDD005 included; lithology,
grainsize, texture, structure,
deformation, mineralisation, alteration,
veining, colour, weathering.
•Drill core logging is qualitative and
based on drill core retained in core
trays.
•The drillhole was logged in its 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 _
•No diamond core sampling has been
undertaken.

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Criteria JORC Code Explanation Commentary
field duplicate/second-half
sampling.
• Whether sample sizes are
appropriate to the grain size of
the material being sampled.
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.
•No diamond core sampling has been
undertaken.
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.
•Significant intersections were verified
by senior exploration personnel.
•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.
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.
•The drillhole collars were 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
GDA2020 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
•No regular drill hole spacing has been
set with individual holes designed to
intersect specific targets.
•Diamond drillhole OCDD005 was
designed to test seismic features and

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Criteria JORC Code Explanation Commentary
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.
interpreted geological extensions.
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.
•The relationship between drill
orientation and mineralisation is
unknown.
Sample security • The measures taken to ensure
sample security.
•No diamond drill core sampling has
been undertaken.
Audits or reviews • The results of any audits or
reviews of sampling techniques
and data.
•Internal audits/reviews of seismic
procedures are ongoing, with external
reviews managed by Terra Resources
Pty Ltd.

Section 2: Reporting of Exploration Results

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 nine
granted exploration licences, covering
2,336km2, (Legend manager).
•Rockford JV tenements:
E28/2188, 2189, 2192 (70%
Legend, 30% Rockford Minerals Pty
Ltd)
E28/1716, 1717, 1718, 1727 (70%
Legend, 30% Ponton Minerals Pty
Ltd).
•Legend 100%: E28/2404, 2405.
•The Project is located 280km east of
Kalgoorlie mostly on vacant crown
land with the eastern portion on
Kanandah Pastoral Station.
•Tenements E28/1716, 1717, 2192,
2405 are covered by the Upurli Upurli
Nguratja Native Title Claim.
•Tenements E28/2188, and E28/2189
are covered 20% and 85%
respectively by the Untiri Pulka Native
Title Claim with the remaining area
covered by the Upurli Upurli Nguratja
Native Title Claim.
•Tenements E28/1718 and E28/1727

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Criteria JORC Code Explanation Commentary
are covered 90% and 20%,
respectively by the Ngadju Native
Title Claim with the remaining area
covered by the Upurli Upurli Nguratja
Native Title Claim.
•Tenement E28/2404 is covered 100%
by the Ngadju Native Title Claim.
•The tenements are in good standing
and there arenoknown impediments.
Exploration done by
other parties
• Acknowledgment and appraisal
of exploration by otherparties.
•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
mafic/ultramafic intrusives within the
Fraser Zone of the larger Albany-
Fraser Orogen.
•Secondary targets include VMS style
zinc-copper-lead-silver mineralisation
and structurally controlled Tropicana
style gold.
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
• 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.
•See Appendix 2.

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Criteria JORC Code Explanation Commentary
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.
•No assay results have been received.
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 drill core has been oriented to
enable structural logging and
evaluation of true thicknesses of the
mineralised intervals.
•Drillhole intercepts/intervals 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 and drillhole location maps
and seismic sections have been
included in the body of the 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.
•All significant results are reported.
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;
•Detailed high quality aeromagnetic
and gravity datasets, aircore drilling,
ground EM surveys and DHTEM
surveys have been used to target
drilling.
• Highpower EM Geophysical Services
Pty Ltd completed high powered
moving loop electromagnetic

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Criteria

JORC Code Explanation

metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.

Commentary (MLTEM) surveying over the Octagonal prospect.

  • Highpower EM Geophysical Services Pty Ltd will complete high powered fixed loop electromagnetic (HPFLTEM) surveying over the Octagonal prospect.

MLTEM Details

  • Loop Size: 300 x 300m, single turn

  • Line/Station Spacing: 500/250m spaced lines with 100m stations

  • Transmitter: HPEM HPTX (200 amps)

  • Receiver: EMIT SMARTem24

  • Sensor: HT SQUID LANDTEM 3 component B field sensor

  • Time base/freq.: 0.25Hz (500msec time base), 0.5-1.0msec ramp

FLTEM Details

  • Loop Size: 2km x 1km single turn, 1km x 1km Figure 8 configuration

  • Line/Station Spacing: 250m spaced lines with 125m stations

  • Transmitter: HPEM HPTX (~200 amps)

  • Receiver: EMIT SMARTem24

  • Sensor: HT SQUID LANDTEM 3 component B field sensor

  • Time base/freq.: 0.125-0.25Hz (1,000-2,000msec time base), 0.51.0msec ramp

  • Readings/Stacks: 2-3 repeatable readings, 64 stacks.

  • GEM Geophysics Pty Ltd completed downhole electromagnetic (DHTEM) surveying in diamond hole OCDD004 and OCDD005.

DHTEM Details

  • Loop Size: 800mx800m single turn

  • Station Spacing: 10-20m intervals

  • Sensor: B-field DigiAtlantis

  • Base/frequency: 0.25Hz, 1,000ms time base, 0.5-1.0ms ramp

  • Stacking: ~32+ stacks, 2-3 repeatable readings

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

  • Submit selection of OCDD005 for geochemical analysis.

  • Full integration of geological, structural, geophysical (including seismic), and geochemical data.

  • High-power surface EM surveying

  • Plan further diamond drillholes.

  • Plan further EM surveys.

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Criteria JORC Code Explanation Commentary areas, provided this information • Petrophysical property measurements is not commercially sensitive.

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