METALSTECH LIMITED — Capital/Financing Update 2017

Nov 22, 2017

ASX Release 23 November 2017

iCobalt Secures Option to Acquire High Grade Cobalt-Silver Mine

Lithium and cobalt developer MetalsTech Limited (ASX:MTC) is pleased to announce that the Company’s wholly owned subsidiary iCobalt Limited, which it intends to separately list on the ASX in Q1 2018 ( iCobalt ), has signed a binding option agreement to acquire 100% of the Rusty Lake High Grade Cobalt-Silver Mine located near the Gowganda Township in Ontario, Canada.

Highlights:

• Option to acquire 100% interest in 52 mining claims for 816 hectares including the historical silver and cobalt producing Rusty Lake Mine which operated between 1910-1913, 1936-1938 and 1964-1966

• 540 hectares of the project area covers the Nipissing Diabase which is the target geological structure for high grade cobalt, silver and nickel within the area

• Excellent infrastructure surrounding the project with historical mining activity and located 15km south of the town of Gowganda, Ontario with all-weather road access

• Recent surface sampling at the Rusty Lake Mine yielded the following assays:

  • 4.38% Co, 85.7g/t, Ag, 2.08% Ni (stockpile off main mine shaft) – sample Q297453

  • 6.08% Co, 3540g/t Ag, 8.64% Ni (stockpile off main mine shaft) – sample Q297454

  • 3.26% Co, 478g/t Ag, 1.31% Ni (stockpile off main mine shaft) – sample Q297455

  • 6.04% Co, 38.9g/t Ag, 1.6% Ni (stockpile off main mine shaft) – sample Q297456

  • 11.85% Co, >10,000g/t Ag, 2.97% Ni (angular boulder) – sample Q297458

  • 9.92% Co, >10,000g/t Ag, 3.93% Ni (angular boulder) – sample Q297457

  • 6.33% Co, 69.1g/t Ag, 4.79% Ni (stockpile grab coarse) – sample Q297459

  • 3.8% Co, 34.8g/t Ag, 3.93% Ni (stockpile grab coarse) – sample Q297460

  • 5.08% Co, 19.4g/t Ag, 0.44% Ni (angular boulder) – sample Q297451

  • 5.65% Co, 44.4g/t Ag, 0.48% Ni (angular boulder) – sample Q297452

  • 1.47% Co, 30.9g/t Ag, 3.52% Ni (NE trench) – sample Q297465

• AMC Consultants conducting final stages of technical due diligence

• Attractive share consideration weighted acquisition structure

• Alto Capital appointed Lead Manager to the iCobalt spinout with MetalsTech shareholders to receive a Priority Offer as well as exposure to a potential in-specie distribution of iCobalt shares

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Registered Office Board of Directors Unit 1, 44 Denis Street Executive Chairman - Russell Moran Subiaco WA 6008 Executive Director - Gino D’Anna T +61 408 408 878 T +61 415 493 993 Non-Executive Director - Shane Uren E info@metalstech.net Non-Executive Director - Michael Velletta

Projects Cancet 100% owned Adina 100% owned Terre Des Montagnes 100% owned Wells-Lacourciere 100% owned Kapiwak 100% owned Sirmac-Clapier 100% owned Bay Lake 100% owned

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Commenting on the Rusty Lake Mine Option, Executive Director Mr Gino D’Anna stated:

“We are excited to have secured this opportunity to acquire a past-producing mine with excellent high grade cobalt, nickel and silver potential. The area in general is a hotspot for recent cobalt focused exploration and consolidation and we are pleased to be able to expand our exposure. We are eagerly awaiting the results of our due diligence and will update stakeholders when this is complete.”

Rusty Lake Mine

The Rusty Lake Cobalt-Silver Mine is located in the Leith Township, Larder Lake Mining Division, Ontario and comprises of 52 mining claim units (~816 hectares) including the No 1, No 2, No 3 and No 4 shafts within the historical mining operation. It is approximately 70km from the Company’s 100% owned Bay Lake High Grade Cobalt Project.

The project boasts excellent all-weather road access and is located approximately 30km south of the Gowganda Mining Camp which has historically produced an estimated 58 million ounces of silver and at least 1.3 million pounds of cobalt (some early mines only reported silver production being the target metal despite cobalt being mined in the process).

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Photograph: Rusty Lake Mine – 1960s

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Map: Location of Rusty Lake Mine and in relation to MTC’s Bay Lake High Grade Cobalt Project

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MetalsTech Limited ACN 612 100 464 - Unit 1, 44 Denis Street, Subiaco WA 6008 T +61 408 408 878 | +61 415 493 993 www.metalstech.net

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Mine Sampling Program

A mine site sampling program was conducted at the Rusty Lake Mine in May of this year. The primary goal of the program was to ascertain the quality of the cobalt mineralisation associated with the silver ore at the mine.

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Map: Layout of Rusty Lake Mine and Sample Locations

To appraise the cobalt mineralisation of the silver ore the ore stockpile was grab sampled. Two main stockpile areas can be found at the mine site; a smaller stockpile immediately south of the hoist / historical head frame heading towards the historical mill foundations and a larger stockpile to the east and south of the hoist / historical head frame. The stockpile to the south showed a mixture of Nipissing diabase and pinkish granophyre with the diabase dominating.

Abundant cobalt “bloom” was observed indicating the presence of the cobalt arsenate erythrite. Pinkish aplite stringers were common. The dimensions of this stockpiled area was approximately 40 metres long by

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Photograph: Cobalt “bloom” in stockpile

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MetalsTech Limited ACN 612 100 464 - Unit 1, 44 Denis Street, Subiaco WA 6008 T +61 408 408 878 | +61 415 493 993 www.metalstech.net

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20 metres wide with a depth in the centre at least 4 metres. This stockpile was considered to be an ore stockpile. Seven selected grabs were collected from this stockpile. The results confirm the presence of high grade cobalt and silver and ore-grade nickel in the Rusty Lake ore.

Mine Sampling – May 2017

Sample #	UTM East	UTM West	Sample Type	Ag g/t	Co %	Ni %
Q297451	514879	5262356	Angular Boulder	19.4	5.08	0.44
Q297452	514879	5262356	Angular Boulder	44.4	5.65	0.48
Q297453	514896	5262428	Stockpile Grab (Main Shaft)	85.7	4.38	2.08
Q297454	514895	5262430	Stockpile Grab (Main Shaft)	3540	6.08	8.64
Q297455	514896	5262423	Stockpile Grab (Main Shaft)	478	3.26	1.31
Q297456	514889	5262425	Stockpile Grab (Main Shaft)	38.9	6.04	1.6
Q297457	514888	5262346	Angular Boulder	>10000	9.92	3.93
Q297458	514888	5262346	Angular Boulder	>10000	11.85	2.97
Q297459	514908	5262419	Stockpile Grab (Main Shaft) - coarse	69.1	6.33	4.79
Q297460	514906	5262425	Stockpile Grab (Main Shaft) - coarse	34.8	3.8	3.93
Q297461	514901	5262433	Stockpile (Main Shaft) - fines	402	0.84	0.4
Q297462	514884	5262390	Tailings (Main Shaft)	63	0.03	0.01
Q297463	514882	5262377	Tailings (Main Shaft)	48.5	0.03	0.01
Q297464	514881	5262364	Tailings (Main Shaft)	69.1	0.06	0.04

Table: Mine Sampling Results

Acquisition Terms

iCobalt Limited, wholly owned subsidiary of MetalsTech, has entered into a binding option agreement with New Found Gold Corp. (the Vendors ) to acquire 100% of the Rusty Lake Mine in Ontario, Canada.

The key terms of the acquisition are as follows:

• 30 days’ exclusivity on payment of CAD$40,000 cash (Paid)

• CAD$60,000 upon completion of satisfactory due diligence by iCobalt

• Upon iCobalt completing an initial public offering:

  • CAD$225,000

  • 3,000,000 iCobalt shares at a deemed price of 20c each subject to 12 months’ escrow from the date of the initial public offering

• upon completion of the aforementioned payments, iCobalt will have earned a 100% interest in the Project

• the Vendors will retain a 2% Net Smelter Royalty ( NSR ) over all metals produced from the Project excluding the cobalt metal ( Non-Cobalt NSR )

• the Vendors will retain a 0.5% NSR over the cobalt metal from the Project ( Cobalt NSR )

• the Project has an existing 2% NSR owned by Cobalt 27 Capital Corp ( Cobalt 27 NSR ), which will be assumed by iCobalt at completion

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MetalsTech Limited ACN 612 100 464 - Unit 1, 44 Denis Street, Subiaco WA 6008 T +61 408 408 878 | +61 415 493 993 www.metalstech.net

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• iCobalt can buy back half of the Non-Cobalt NSR and half of the Cobalt NSR from the Vendor for total consideration of CAD$1,000,000 payable in any combination of cash or iCobalt shares at the 10-day VWAP

• subject to iCobalt delineating an JORC or NI 43-101 Inferred Resource of not less than 1Mt at an average grade of not less than 0.5% Co equivalent, iCobalt will make a further payment to the Vendor of CAD$150,000 payable in any combination of cash or iCobalt shares at the 10-day VWAP

• the Vendor agrees to orderly market provisions on any share sales after the escrow period

iCobalt Spinout

The Company has appointed Alto Capital as Lead Manager to the iCobalt spinout. MetalsTech shareholders are expected to benefit from the spinout through a Priority Offer in the iCobalt listing as well exposure to a potential in-specie distribution of iCobalt shares subsequent to the listing, based on their percentage ownership in MetalsTech.

We will update stakeholders in this regard in due course.

ENDS

For further information, contact:

Russell Moran Gino D’Anna Nathan Ryan Executive Chairman Executive Director Investor Relations M +61 415 493 993 M +61 400 408 878 M +61 420 582 887 russell@metalstech.net gino@metalstech.net nathan@nwrcommunications.com.au

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MetalsTech Limited ACN 612 100 464 - Unit 1, 44 Denis Street, Subiaco WA 6008 T +61 408 408 878 | +61 415 493 993 www.metalstech.net

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Caution Regarding Forward-Looking Information

This document contains forward-looking statements concerning MetalsTech. Forward-looking statements are not statements of historical fact and actual events and results may differ materially from those described in the forward looking statements as a result of a variety of risks, uncertainties and other factors. Forward-looking statements are inherently subject to business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause the Company’s actual results to differ materially from those expressed or implied in any forwardlooking information provided by the Company, or on behalf of, the Company. Such factors include, among other things, risks relating to additional funding requirements, metal prices, exploration, development and operating risks, competition, production risks, regulatory restrictions, including environmental regulation and liability and potential title disputes.

Forward looking statements in this document are based on the company’s beliefs, opinions and estimates of MetalsTech as of the dates the forward looking statements are made, and no obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or to reflect other future developments.

Competent Person Statement

The information in this announcement that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr. Martin Ethier, PGeo, is a Competent Person who is a Professional Geologist registered with the Ordre des géologues du Québec (Member # 1520), in Canada. Mr. Martin Ethier, PGeo, is an independent consultant to MetalsTech Limited and iCobalt Limited. Mr. Martin Ethier and all competent persons are independent from the issuer of this statement, MetalsTech Limited. Mr. Martin Ethier has sufficient experience that is relevant to the style of mineralisation and type 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’. Mr. Martin Ethier consents to the inclusion in the report of the matters based on their information in the form and context in which it appears.

Mr. Martin Ethier has reviewed the historical exploration results that are contained in this announcement and has validated the source of the historical information. Mr. Martin Ethier is satisfied with its inclusion in the form and context in which it appears in this announcement.

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MetalsTech Limited ACN 612 100 464 - Unit 1, 44 Denis Street, Subiaco WA 6008 T +61 408 408 878 | +61 415 493 993 www.metalstech.net

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Appendix A: Rusty Lake Mine Sampling Assay Results

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MetalsTech Limited ACN 612 100 464 - Unit 1, 44 Denis Street, Subiaco WA 6008 T +61 408 408 878 | +61 415 493 993 www.metalstech.net

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Appendix A: Rusty Lake Mine Sampling Assay Results (continued)

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MetalsTech Limited ACN 612 100 464 - Unit 1, 44 Denis Street, Subiaco WA 6008 T +61 408 408 878 | +61 415 493 993 www.metalstech.net

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Appendix B: Rusty Lake Mine Geology Map

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JORC Code, 2012 Edition – Table 1 Section 1 Sampling Techniques and Data

Criteria	JORC Code explanation	JORC Code explanation	Commentary
Sampling	•	Nature and quality of sampling (eg cut channels,	No drilling completed to date.
techniques		random chips, or specific specialised industry
		standard measurement tools appropriate to the	Rock samples comprise multiple chips considered to be
		minerals under investigation, such as down hole	representative of the horizon or outcrop being sampled.
		gamma sondes, or handheld XRF instruments,
		etc). These examples should not be taken as	Samples submitted for assay typically weigh 2-3 kg.
		limiting the broad meaning of sampling.
	•	Include reference to measures taken to ensure	Continuous channel sampling of trenching ensures the samples
		sample representivity and the appropriate	are representative. Entire 2-3 kg sample is submitted for sample
		calibration of any measurement tools or systems	preparation.
		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)
		maywarrant disclosure of detailed information.
Drilling	•	Drill type (eg core, reverse circulation, open-hole	No drilling completed.
techniques		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).
Drill sample	•	Method of recording and assessing core and	Not applicable.
recovery		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.
Logging	•	Whether core and chip samples have been	All trenches sampled are logged continuously from start to finish
		geologically and geotechnically logged to a level	with key geological observations recorded.
		of detail to support appropriate Mineral
		Resource estimation, mining studies and	Logging is quantitative, based on visual field estimates.
		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.
Sub-sampling	•	If core, whether cut or sawn and whether	Sample preparation follows industry best practice standards and
techniques		quarter, half or all core taken.	is conducted by internationally recognised laboratories, at ALS
and sample	•	If non-core, whether riffled, tube sampled, rotary	Laboratories in North Vancouver, British Columbia.
preparation		split, etc and whether sampled wet or dry.
	•	For all sample types, the nature, quality and	Oven drying, jaw crushing and pulverising so that 85% passes
		appropriateness of the sample preparation	75 microns.
		technique.
			Blanks have been submitted every 50 samples to ensure there is

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MetalsTech Limited ACN 612 100 464 - Unit 1, 44 Denis Street, Subiaco WA 6008 T +61 408 408 878 | +61 415 493 993 www.metalstech.net

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Criteria	JORC Code explanation	JORC Code explanation	Commentary
	•	Quality control procedures adopted for all sub-	no cross contamination from sample preparation.
		sampling stages to maximise representivity of
		samples.	Measures taken include (a) systematic sampling across whole
	•	Measures taken to ensure that the sampling is	outcrop zone where present; (b) comparison of actual assays for
		representative of the in situ material collected,	blanks with theoretical values.
		including for instance results for field
		duplicate/second-half sampling.	Sample size (2-3 kg) accepted as general industry standard.
	•	Whether sample sizes are appropriate to the
		grain size of the material beingsampled.
Quality of	•	The nature, quality and appropriateness of the	Assay and laboratory procedures have been selected following a
assay data		assaying and laboratory procedures used and	review of techniques provided by internationally certified
and laboratory		whether the technique is considered partial or	laboratories. In addition, the sample preparation laboratory in
tests		total.	North Vancouver is regularly visited to ensure high standards
	•	For geophysical tools, spectrometers, handheld	are being maintained.
		XRF instruments, etc, the parameters used in
		determining the analysis including instrument	Samples are submitted for multi-element analysis by ALS
		make and model, reading times, calibrations	Laboratories. Where results exceeded upper detection limits for
		factors applied and their derivation, etc.	Co, samples are re-assayed.
	•	Nature of quality control procedures adopted (eg
		standards, blanks, duplicates, external	The final techniques used are total.
		laboratory checks) and whether acceptable
		levels of accuracy (ie lack of bias) and precision	None used.
		have been established.
			Barren granitic and calcite material is submitted every 50
			samples as a control.
			Comparison of results indicates good levels of accuracy and
			precision. No external laboratory checks have been used.
Verification of	•	The verification of significant intersections by	None undertaken.
sampling and		either independent or alternative company
assaying		personnel.	Not applicable.
	• •	The use of twinned holes. Documentation of primary data, data entry procedures, data verification, data storage	All field data is manually collected, entered into excel spreadsheets, validated and loaded into an Access database.
		(physical and electronic) protocols.	Electronic data is stored in Ontario as well as at the site office of
	•	Discuss any adjustment to assay data.	MetalsTech in Quebec. Data is exported from Access for
			processing by a number of different software packages.
			All electronic data is routinely backed up.
			No hard copy data is retained.
			None required.
Location of	•	Accuracy and quality of surveys used to locate	All trench start points and geochemical samples are located
data points		drill holes (collar and down-hole surveys),	using a hand held GPS.
		trenches, mine workings and other locations
		used in Mineral Resource estimation.	Trenches are surveyed using hand held compass and
	•	Specification of the grid system used.	clinometer.
	•	Quality and adequacy of topographic control.
			The grid system used is UTM. However, for reporting purposes
			and to maintain confidentiality, local coordinates are used for
			reporting.
			Nominal RL’s based on topographic datasets are used initially,
			however, these will be updated if DGPS coordinates are
			collected.

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MetalsTech Limited ACN 612 100 464 - Unit 1, 44 Denis Street, Subiaco WA 6008 T +61 408 408 878 | +61 415 493 993 www.metalstech.net

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Criteria	JORC Code explanation	JORC Code explanation	Commentary
Data spacing	•	Data spacing for reporting of Exploration	Only reconnaissance trenching and sampling completed –
and		Results.	spacing variable and based on outcrop location and degree of
distribution	•	Whether the data spacing and distribution is	exposure.
		sufficient to establish the degree of geological
		and grade continuity appropriate for the Mineral
		Resource and Ore Reserve estimation	Not applicable.
		procedure(s) and classifications applied.
	•	Whether sample compositing has been applied.	None undertaken.
Orientation of	•	Whether the orientation of sampling achieves	Sampling completed at right angles to interpreted trend of
data in		unbiased sampling of possible structures and	outcrop mineralised units.
relation to		the extent to which this is known, considering
geological		the deposit type.	None observed.
structure	•	If the relationship between the drilling orientation
		and the orientation of key mineralised structures
		is considered to have introduced a sampling
		bias, this should be assessed and reported if
		material.
Sample	•	The measures taken to ensure sample security.	Geological team supervises all sampling and subsequent
security			storage in the field. The same geological team delivers the
			samples to ALS Laboratories in North Vancouver, British
			Columbia and receives an official receipt of delivery.
Audits or	•	The results of any audits or reviews of sampling	None completed.
reviews		techniques and data.

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Section 2 Reporting of Exploration Results

Criteria	JORC	JORC	Code explanation	Commentary
Mineral	•	Type, reference name/number, location and		iCobalt Limited has the right to acquire 100% of the Rusty
tenement and		ownership including agreements or material issues		Lake Mine Cobalt project pursuant to a binding acquisition
land tenure		with third parties such as joint ventures,		agreement.
status		partnerships, overriding royalties, native title
		interests, historical sites, wilderness or national park		There are no other material issues affecting the
		and environmental settings.		tenements. Certain surface rights exist on parts of the
	•	The security of the tenure held at the time of		Rusty Lake project, but these do not compete with the
		reporting along with any known impediments to		subsurface or mineral rights over the project, which are
		obtaining a licence to operate in the area.		being acquired by iCobalt.
				Upon the completion of the obligations pursuant to the
				legal agreements, iCobalt will own 100% of the Rusty Lake
				Mine Cobalt Project and ownership of the individual claims
				will be transferred to iCobalt.
				All tenements are in the process of being legally validated
				by an independent lawyer to provide an opinion as to the
				good standing nature of the claims. The independent
				lawyer selected is a specialist in the field.
Exploration	•	Acknowledgment and appraisal of exploration by		No modern exploration has been conducted.
done by other		other parties.
parties				Historical exploration and government mapping records
				multiple cobalt mineralised zones within the project areas
				but no other data is available.
Geology	•	Deposit type, geological setting and style of		The Rusty Lake Mine Cobalt project is composed of
		mineralisation.		principal ore veins, cross-veins, masses of mineralised
				Keewatin interflow rocks, and disseminated minerals in the
				Gowganda Formation, Coleman Member. Only the
				principal ore veins contain silver ore and they occur
				primarily in the Coleman Member.
				The veins also contain cobalt indicator minerals such as
				arsenides and native silver (principal metal veins). The
				arsenides, including nickel, cobalt, and iron varieties,
				occur as massive lenses and disseminated grains in the
				carbonate veins. Some massive lenses extend across the
				entire widths of the veins, others present as irregular
				bodies in the centres of the veins, and still others occur at
				the edges of the veins.
				The distribution of cobalt indicator minerals from top to
				bottom of the veins are rich in the following elements (i)
				nickel, (ii) cobalt and (iii) iron. The veins can be classified
				as Ni-As, Ni-Co-As, Co-Fe-As and Fe-As.
				Silver grades exhibit a very different zonation implying that
				previous production has excluded multiple areas of cobalt
				mineralisation.
Drill hole	•	A summary of all information material to the		No drilling exists.
Information		understanding of the exploration results including a
		tabulation of the following information for all Material
		drill holes:
		o	easting and northing of the drill hole collar
		o	elevation or RL (Reduced Level – elevation
			above sea level in metres) of the drill hole collar
		o	dip and azimuth of the hole

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Criteria	JORC Code explanation	JORC Code explanation	Commentary
		o down hole length and interception depth
		o hole length.
	•	If the exclusion of this information is justified on the
		basis that the information is not Material and this
		exclusion does not detract from the understanding of
		the report, the Competent Person should clearly
		explain whythis is the case.
Data	•	In reporting Exploration Results, weighting averaging	Intercepts are calculated on a per sample basis according
aggregation		techniques, maximum and/or minimum grade	to the results from the laboratory with no bottom cut-off
methods		truncations (eg cutting of high grades) and cut-off	grade and no top cut-off grades.
		grades are usually Material and should be stated.
	•	Where aggregate intercepts incorporate short	Short intervals of high grade that have a material impact
		lengths of high grade results and longer lengths of	on overall intersection are highlighted separately.
		low grade results, the procedure used for such aggregation should be stated and some typical	None reported.
		examples of such aggregations should be shown in
		detail.
	•	The assumptions used for any reporting of metal
		equivalent values should be clearlystated.
Relationship	•	These relationships are particularly important in the	The relationship between true widths and the width of
between		reporting of Exploration Results.	mineralised zones intersected in trenching has not yet
mineralisation	•	If the geometry of the mineralisation with respect to	been determined due to lack of structural data (i.e. dip).
widths and		the drill hole angle is known, its nature should be
intercept lengths		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’).
Diagrams	•	Appropriate maps and sections (with scales) and	None included.
		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.
Balanced	•	Where comprehensive reporting of all Exploration	Results for all sampling completed are listed in the body of
reporting		Results is not practicable, representative reporting of	this report.
		both low and high grades and/or widths should be
		practiced to avoid misleading reporting of
		Exploration Results.
Other	•	Other exploration data, if meaningful and material,	All meaningful and material data is reported.
substantive		should be reported including (but not limited to):
exploration data		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
		contaminatingsubstances.
Further work	•	The nature and scale of planned further work (eg	Detailed geochemistry and geology to determine trends of
		tests for lateral extensions or depth extensions or	known mineralised zones and to delineate other Co-Ag
		large-scale step-out drilling).	anomalies.
	•	Diagrams clearly highlighting the areas of possible
		extensions, including the main geological	Further trenching to determine structural orientation of
		interpretations and future drilling areas, provided this	mineralised zones.
		information is not commercially sensitive.	Conducting an Airborne EM survey over the two key
			project areas.
			Conduct an IP survey.
			Drilling.

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