LODE RESOURCES LTD — Regulatory Filings 2022

Feb 14, 2022

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15 February 2022

Shallow, high-grade copper and zinc intersected at Trough Gully Copper Mine

Highlights

• The 7-hole Phase I drilling program returns significant copper & zinc assays plus consistent gold and silver credits at Trough Gully Copper Mine, including one intercept 30m below old workings

• ➢ TGY007: 7.30m @ 1.37% copper, 4.93% zinc, 0.36g/t gold, 10.1g/t silver from 92.1m

• Inc: 1.90m @ 1.99% copper, 3.91% zinc, 0.34g/t gold, 12.1g/t silver from 92.1m

• ➢ TGY003: 6.90m @ 1.30% copper, 4.49% zinc, 0.50g/t gold, 17.4g/t silver from 50.9m

• Inc: 1.00m @ 3.05% copper, 12.25% zinc, 1.15g/t gold, 43.2g/t silver from 51.5m

• This is the first modern drill program at the historic Trough Gully Copper Mine, part of Lode’s 100%-owned Fender Copper Project

• Representative section of mineralisation from drill core submitted for metallurgical tests

• Follow up down hole and surface electromagnetic surveys to test for extensions at depth and along strike is planned for current Quarter & prior to planned Phase II drilling

• Fender Copper Project, includes the Trough Gully Mine, and contains two large copper drainage anomalies ‘Kasey’ (7km x 3km) and Fold (4km x 2km)

• Interim Phase I drill results from Lode’s Uralla Gold Project are expected to be announced in current Quarter

Commenting on the significant copper and zinc intercepts at the Trough Gully Copper Mine, Lodes ’s Managing Director, Ted Leschke said:

“Intersecting such significant copper and zinc mineralisation at shallow depths in a first pass drill programme is highly encouraging as our Fender Copper Project contains numerous copper occurrences and copper drainage anomalism over large areas, none of which has been previously subjected to a modern drill programme.”

Lode Resources Ltd ACN 637 512 415 Level 30, 264 George St Sydney NSW 2000 I www.loderesources.com

ASX I 15 February 2022

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Trough Gully Copper Mine Drilling

Lode Resources Ltd (ASX: LDR or ‘Lode’ or ‘the Company’) is pleased to report Phase I drilling has returned significant copper & zinc assays plus consistent gold and silver credits at Trough Gully Copper Mine, part of the Lode’s 100% owned Fender Copper Project. Phase I drilling resulted in six drill holes for 574 metres. TGY003, TGY007 & TGY006 have returned significant assays as summarised below and with interval assays shown in Tables 1, 2 & 3. TGY001 intersected anomalous mineralisation and TGY004 & TGY005 are awaiting assays. TGY002 hole was abandoned early due to a collapsed collar.

• ➢ TGY007: 7.30m @ 1.37% copper, 4.93% zinc, 0.36g/t gold, 10.1g/t silver from 92.1m (TW 3.80m)

• ➢ Inc: 1.90m @ 1.99% copper, 3.91% zinc, 0.34g/t gold, 12.1g/t silver from 92.1m

• ➢ TGY003: 6.90m @ 1.30% copper, 4.49% zinc, 0.50g/t gold, 17.4g/t silver from 50.9m (TW 4.10m)

• ➢ Inc: 1.00m @ 3.05% copper, 12.25% zinc, 1.15g/t gold, 43.2g/t silver from 51.5m

• ➢ TGY006: 2.80m @ 0.5% copper, 0.83% zinc, 0.16g/t gold, 3.3g/t silver from 67.6m (TW 1.40m)

The TGY003 intercept above is situated within a broader zone returning 10.00m @ 0.92% copper, 3.22% zinc, 0.36g/t gold, 12.1g/t silver from 49.00m (TW 5.90m).

Table 1: Intercept interval assays for drill hole TGY003

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From To Interval Copper Zinc Gold Silver
(m) (m) (m) (%) (%) (g/t) (g/t)
49.00 49.60 0.60 0.03 1.12 0.02 0.0
49.60 50.20 0.60 0.03 0.56 0.05 1.3
50.20 50.90 0.70 0.01 0.11 0.09 0.6
50.90 51.50 0.60 0.95 6.13 0.50 20.0
51.50 52.00 0.50 3.05 12.25 1.15 43.2
52.00 53.00 1.00 0.99 6.99 0.67 21.6
53.00 54.00 1.00 0.96 4.54 0.43 20.1
54.00 54.90 0.90 0.64 2.54 0.37 13.1
54.90 56.10 1.20 0.20 0.16 0.08 3.1
56.10 57.00 0.90 2.12 4.15 0.63 17.2
57.00 57.80 0.80 2.76 4.26 0.57 16.9
57.80 58.40 0.60 0.13 0.15 0.03 0.8
58.40 59.00 0.60 0.11 0.18 0.03 0.0
49.00 59.00 10.00 0.92 3.22 0.36 12.1
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Table 2: Intercept interval assays for drill hole TGY007

From	To	Interval	Copper	Copper	Copper	Copper	Copper	Copper	Zinc	Zinc	Zinc	Zinc	Gold	Gold	Silver	Silver	Silver
(m)	(m)	(m)	(%)						(%)				(g/t)		(g/t)
92.10	93.00	0.90	1				.43		9.49					0.38	11.9
93.00	94.00	1.00	2.50								4.58			0.30	12.2
94.00	95.00	1.00		0.38							4.86		0.62		8	.5
95.00	96.00	1.00	2.44							3.67				0.36	12.1
96.00	97.00	1.00			0.81						5.51			0.39	9	.1
97.00	98.00	1.00	1.					74	6.			40		0.34	12.8
98.00	98.80	0.80				1.00				2.77				0.36	10.		2
98.80	99.40	0.60	0.05						0.38				0.02		0.6
92.10	99.40	7.30	1.37						4.93				0.36		10.1

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Table 3: Intercept interval assays for drill hole TGY006

From	To	Interval	Copper	Copper	Zinc	Zinc	Zinc	Gold	Gold	Silver	Silver
(m)	(m)	(m)	(%)		(%)			(g/t)		(g/t)
67.60	68.20	0.60	0.11		0.08			0.03		0.5
68.20	69.00	0.80		0.34	1		.14		0.11		2.2
69.00	70.00	1.00		0.32		0.59			0.13		2.6
70.00	70.40	0.40	2.04		1.94			0.50		11.6
67.60	70.40	2.80	0.53		0.83			0.16		3.3

Figure 1: Long section of Trough Gully Copper Mine – Showing TGY003, TGY007 & TGY006 pierce points and assays

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South North
TGY001: 7.5m
anomalous Cu & Zn
Stoped
Ore
TGY003: 6.90m @ 1.30% Cu, 4.49% Zn,
0.50g/t Au, 17.4g/t Ag (TW 4.10m)
Open
TGY006: 2.80m @ 0.5% Cu, 0.83% Zn,
0.16g/t Au, 3.3g/t Ag (TW 1.40m)
TGY007: 7.30m @ 1.37% Cu, 4.93% Zn,
0.36g/t Au, 10.1g/t Ag (TW 3.80m)
Open Open
Open
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Drill hole TGY007, which intercepted of high-grade copper and zinc mineralisation is located 30m below the deepest working demonstrating open-endedness at depth. Prior to this campaign by Lode the Trough Gully Copper Mine had never been drilled despite a history of copper production that occurred periodically in the late 1800’s and early 1900’s. Mineralisation mined was primarily copper carbonates hosted by sheared mudstone, phyllite, siltstone and jasper, although banded and massive sulphidic ore was also found close to the surface. High-grade copper ore was despatched from the mine from 1899 to 1916 and a reverberatory furnace was erected on the site in 1908.

Photo 1: High-grade chalcopyrite (copper) mineralisation from drill hole TGY007

10cm

Next Steps at Trough Gully

A representative section of mineralisation from drill core has been submitted for metallurgical tests. Early evidence that metals of value can be recovered through an economically viable industry standard processing route is as important initial step in assessing a mineral occurrence. It also allows metal equivalent values to be calculated under the JORC code. Metal equivalent values are an easy way to demonstrate overall metal grade of intercepts via a single figure.

Lode is planning to carry out a down hole electromagnetic (DHEM) survey, utilizing drill hole TGY007, to test for extensions at depth and along strike. At this preliminary stage it is postulated that Trough Gully Mine mineralisation is present in foliation boudinage lenses. This may be the result of VMS style mineralisation being remobilised post burial due to heat and pressure (also known as metamorphic flow) and redeposit into lenses of varying thickness. DHEM may help locate possible thicker lenses prior to the commencement of Phase II drilling.

In addition to the Trough Gully Mine, the Fender Copper Project encompasses numerous copper occurrences and copper drainage anomalism over large areas including two large copper drainage anomalies called Kasey (7km x 3km) and Fold (4km x 2km) as outlined below.

Fender Copper Project – multiple targets

The Fender Copper project is located 30km southeast of Tamworth. The geology is dominated by Late Devonian-Early Carboniferous Myra and Sandon Beds as well as inter-fingered Permian basalt, jasper and chert. Surface exploration carried out by several companies since the 1960s comprising stream/soil, surface mapping, IP and magnetics, however no drilling has occurred except for one very small and poorly design programme at the Fisher’s Mine prospect. Significant copper values were returned from stream sampling over two large areas (Kasey 7km x 3km, Fold 4km x 2km). This coincides with distinct large magnetic ridges and adjacent to Spring Creek fault. It can be postulated that magnetic anomalies may represent large fold structures which provides tension regime for fissure infilling of remobilised copper mineralisation.

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Some 21 copper occurrences of Volcanic Massive Sulphide (VMS) origin have been recorded over 30km strike length and are usually associated within steeply dipping shear zones that have a close spatial relationship with jasper, chloritised metabasalt and less resistant argillaceous chert. The mineralisation is typically Fe rich, followed by Cu and lesser Zn as major metals. Copper grades in small historical workings typically ranges from 2% to 4.5%, although exceptionally rich ore from the Fishers mine averaged more than 13.4% Cu.

Identified drill targets include four historical copper mines (Trough Gully, Mulla Creek, Fishers and Mt Pleasant Copper Mines) and, with further surface work, two large drainage anomaly targets based on regional stream/soil geochemical and magnetic surveys. These large anomalies could suggest potential for a sizeable occurrence.

Figure 2: Fender Surface Sampling, Magnetics and Historical Workings

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Kasey Copper Anomaly
(7km x 3km)
Trough Gully Copper Mine
Fold Copper Anomaly
(4km x 2km)
Spring Creek Fault
30 km
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Figure 6: Lode’s Project Locations (yellow polygons)

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Mt Carrington
Twin
Gold & Silver
Hills
Gold &
Webbs Consol
Silver
Webbs Timbarra
Silver Gold &
Silver
NSW Sandon
Base Metals
Elsinore
Thor Tea Tree Copper
Gold Gold
Uralla
Gold
Hillgrove
Gold &
Rocky Antinomy
River
Okapi Resources
Enmore Gold
Discovery
Newmont
Fender
Gold
Copper
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This announcement has been approved and authorised by Lode Resource Ltd’s Managing Director, Ted Leschke.

Competent Person’s Statement

The information in this Report that relates to Exploration Results is based on information compiled by Mr Mitchell Tarrant, who is a Member of the Australian Institute of Geoscientists. Mr Tarrant, who is the Project Manager for Lode Resources, 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’. Mr Tarrant has a beneficial interest as option holder of Lode Resources Ltd and consents to the inclusion in this Report of the matters based on the information in the form and context in which it appears.

For further information, please contact: Investor Enquiries

Ted Leschke

Managing Director Ted@loderesources.com

About Lode Resources

Lode Resources is an ASX-listed explorer focused on the highly prospective but underexplored New England Fold Belt in north-eastern NSW. The Company has assembled a portfolio of brownfield precious and base metal assets characterised by demonstrated high grade mineralisation and/or potential for large mineral occurrences.

For more information on Lode Resources and to subscribe for our regular updates, please visit our website at www.loderesources.com

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JORC Code, 2012 Edition - Table 1.

Section 1 Sampling Techniques and Data

(Criteria	in this section apply to all succeeding sections.)
Criteria	JORC Code explanation	Commentary
Sampling techniques	• Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. • Aspects of the determination of mineralisation that are Material to the Public Report. • In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.	• Diamond drilling techniques were used to obtain samples. • NQ2 core was logged and sample intervals assigned based on the geology. • The core to be sampled was sawn in half and bagged according to sample intervals. Intervals range from 0.2m to 1.2m • Blanks and standards were inserted at >5% where appropriate. • Samples were sampled by a qualified geologist. • Samples were sent to ALS in Brisbane. • Sample preparation comprised drying (DRY-21), weighed, crushing (CRU-31) and pulverised (PUL- 32), refer to ALS codes. • The assay methods used were ME-ICP61 and Au- AA25 (refer to ALS assay codes). ME-ICP61 (25g) is a four-acid digestion with ICP-AES finish. Au-AA25 (30g) is a fire assay method.
Drilling techniques	• Drill type (eg core, reverse circulation, open- hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face- sampling bit or other type, whether core is oriented and if so,bywhat method,etc).	• All drilling is Diamond drilling (core), NQ2 in size. • Core was collected using a standard tube. • Core is orientated every run (3m) using the truecoreMT UPIX system.
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.	• Core recoveries are measured using standard industry best practice. • Core loss is recorded in the logging. • Core recovery in the surface lithologies is poor. • Core recovery in fresh rock was good at >95% recovered from 6m downhole depth. • No core lose was recorded within the mineralised zones.
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.	• Holes are logged to a level of detail that would support mineral resource estimation. • Qualitative logging includes lithology, alteration, texture, colour and structures. • Quantitative logging includes sulphide and gangue mineral percentages. • All drill core was photographed wet and dry. • All drill holes have been logged in full.

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	• Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. • The total length and percentage of the relevant intersections logged.
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 beingsampled.	• Core was prepared using standard industry best practice. • The core was sawn in half using a diamond core saw and half core was sent to ALS Brisbane for assay. • No duplicate sampling has been conducted. • Samples intervals ranged from 0.2m to 1.2m. The average sample size was 1m in length. The sample size is considered appropriate for 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 (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.	• Samples were stored in a secure location and transported to the ALS laboratory in Brisbane QLD via a certified courier. Sample preparation comprised drying (DRY-21), weighed, crushing (CRU-31) and pulverised (PUL-32). • The assay methods used were ME-ICP61 and Au- AA25 (refer to ALS assay codes). ME-ICP61 (25g) is a four-acid digestion with ICP-AES finish. Au- AA25 (30g) is a fire assay method. • Certified standards and blanks were inserted at a rate of >5% at the appropriate locations. These are checked when assay results are received to make sure they fall within the accepted limits. • The assay methods employed are considered appropriate for near total digestion.
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 anyadjustment to assaydata.	• Laboratory results have been reviewed by the Exploration Manager. • Significant intersections are reviewed by the Exploration Manager and Managing Director. • No twin holes were drilled. • Commercial laboratory certificates are supplied by ALS. • The certified standards and blanks are checked.
Location of data points	• Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • Specification of the grid system used. • Quality and adequacy of topographic control.	• Drill hole collar locations were picked up using a RTK GPS (+- 0.025m). • Grid system used is GDA94 UTM zone 56 • Down hole surveys are conducted with a digital magnetic multi-shot camera at 30m intervals.
Data spacing and distribution	• Data spacing for reporting of Exploration Results. • Whether the data spacing and distribution is sufficient to establish the degree ofgeological	• The holes drilled were for exploration purposes and were not drilled on a grid pattern. • Drill hole spacing is considered appropriate for explorationpurposes.

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	and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. • Whether sample compositing has been applied.	• •	The data spacing, distribution and geological understanding is not currently sufficient for the estimation of mineral resource estimation. No sample compositing has been applied.	The data spacing, distribution and geological understanding is not currently sufficient for the estimation of mineral resource estimation. No sample compositing has been applied.
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.	• • • •	Drill holes were orientated perpendicular to the perceived strike as much as possible given the steep terrain around the Trough Gully mineralisation. The orientation of drilling relative to key mineralised structures is not considered likely to introduce significant sampling bias. The orientation of sampling is considered appropriate for the current geological interpretation of the mineral style. Drill holes intersected the Trough Gull mineralised structure laterallyat; TGY001 29° TGY003 35° TGY006 31° TGY007 33°
			TGY001	29°
			TGY003	35°
			TGY006	31°
			TGY007	33°
Sample security	• The measures taken to ensure sample security.	•	Samples have been overseen by the Project Manager during transport from site to the assay laboratories.
Audits or reviews	• The results of any audits or reviews of sampling techniques and data.	•	No audits or reviews have been carried out at this point.

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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.	• The sampling was conducted on EL9003 • EL9003 is 100% held by Lode Resources Ltd. • Native title does not exist over the activity area within EL9003 • All leases/tenements are in good standing
Exploration done by other parties	• Acknowledgment and appraisal of exploration by other parties.	• There has been no systematic exploration carried out at the Trough Gully Copper Mine.
Geology	• Deposit type, geological setting and style of mineralisation.	• EL9003 falls within the southern portion of the New England Orogen (NEO). EL9003 hosts numerous base metal occurrences which are believed to be Volcanic Massive Sulphide is genesis.
Drill holeInformation	• 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, including, easting and northing, elevation or RL, dip and azimuth, down hole length, interception depth and hole length. • If the exclusion of this information is justified the Competent Person should clearly explain why this is the case.	• See row below. • Only drill assays from meaningful mineralised intercepts are tabulated below. A meaningful intercept is generally determined as being a series of consecutive assays grading >0.1% Cu, >0.1% Zn, >0.1g/t Au and/or >1g/t Ag,

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Hole ID	Easting	Northing	RL	Dip	Azimuth	EOH Depth	Intercept depth	Intercept depth	Width	TW
	GDA94 Z56	GDA94 Z56			(Grid)	(m)	From (m)	to (m)	(m)	(m)
TGY001	320667.315	6549147.403	568.727	-50	209	71.5	27.5	34.0	6.5	3.9
TGY003	320677.838	6549147.595	567.906	-56	215	89.1	49.0	59.0	10.0	5.9
TGY006	320676.58	6549147.312	567.835	-60	211	101.2	67.6	70.4	2.8	1.4
TGY007	320676.868	6549147.393	567.848	-65	213	113.8	92.1	99.4	7.3	3.8
Drill hole TGY001 intercept assays
Sample From To Interval No. (m) (m) (m)			Cu (%)	Zn (%)
D00737 27.50 28.00 0.50 D00739 28.00 28.90 0.90 D00742 28.90 29.10 0.20 D00745 29.10 30.00 0.90 D00748 30.00 31.00 1.00 D00751 31.00 32.00 1.00 D00754 32.00 33.00 1.00 D00756 33.00 34.00 1.00			0.11 0.44 0.18 0.09 0.02 0.02 0.01 0.03	0.13 0.15 0.07 0.26 0.07 0.25 0.03 0.22
Drill hole TGY003intercept assays
Sample From To Interval No. (m) (m) (m)			Cu (%)	Zn (%)
D00652 49.00 49.60 0.60 D00653 49.60 50.20 0.60 D00654 50.20 50.90 0.70 D00655 50.90 51.50 0.60 D00658 51.50 52.00 0.50 D00660 52.00 53.00 1.00 D00663 53.00 54.00 1.00 D00666 54.00 54.90 0.90 D00668 54.90 56.10 1.20 D00669 56.10 57.00 0.90 D00672 57.00 57.80 0.80 D00675 57.80 58.40 0.60 D00676 58.40 59.00 0.60			0.03 1.12 0.03 0.56 0.01 0.11 0.95 6.13 3.05 12.25 0.99 6.99 0.96 4.54 0.64 2.54 0.20 0.16 2.12 4.15 2.76 4.26 0.13 0.15 0.11 0.18
Intercept 49.00 59.00 10.00			0.92 3.22
Drill hole TGY006 intercept assays
Sample From To Interval No. (m) (m) (m)			Cu Zn (%) (%)
D00715 67.60 68.20 0.60 D00716 68.20 69.00 0.80 D00717 69.00 70.00 1.00 D00719 70.00 70.40 0.40			0.11 0.08 0.34 1.14 0.32 0.59 2.04 1.94
Intercept 67.60 70.40 2.80			0.53 0.83
Drill hole TGY007intercept assays
Sample From To Interval No. (m) (m) (m)			Cu Zn (%) (%)
D00737 92.10 93.00 0.90 D00739 93.00 94.00 1.00 D00742 94.00 95.00 1.00 D00745 95.00 96.00 1.00 D00748 96.00 97.00 1.00 D00751 97.00 98.00 1.00 D00754 98.00 98.80 0.80 D00756 98.80 99.40 0.60			1.43 9.49 2.50 4.58 0.38 4.86 2.44 3.67 0.81 5.51 1.74 6.40 1.00 2.77 0.05 0.38
Intercept 92.10 99.40 7.30			1.37 4.93

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Data aggregation methods	• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. • Where aggregate intercepts incorporate short lengths of high- grade results and longer lengths of low-grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. • The assumptions used for any reporting of metal equivalent values should be clearlystated.	• • •	All stated average grades are length weighted. No grade capping has been applied. No equivalent formula has been used.	All stated average grades are length weighted. No grade capping has been applied. No equivalent formula has been used.
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 (eg ‘down hole length, true width not known’).	• •	The reported historic strike and dip of the Trough mineralised lode is; Strike 360°, dip 90° (vertical). Drill holes intersected the Trough Gull mineralised structure laterallyat; TGY001 29° TGY003 35° TGY006 31° TGY007 33°
			TGY001	29°
			TGY003	35°
			TGY006	31°
			TGY007	33°
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 plans and sections.	•	Refer to plans and sections within 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.	•	The accompanying document is considered to represent a balanced report.

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Other substantive exploration data	• Other exploration data, if meaningful and material, should be reported.	• All meaningful and material data is reported.
Further work	• The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling).	• Diamond drilling is like to be ongoing post a down hole electrometrical (DHEM) survey, utilizing drill hole TGY007, to test for extensions at depth and along strike.

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