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METALSTECH LIMITED Capital/Financing Update 2021

Jun 20, 2021

65380_rns_2021-06-20_98024f23-4154-4ad2-ac9a-f771c0defe68.pdf

Capital/Financing Update

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ASX Release 21 June 2021

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1.54 MILLION OUNCE GOLD MINERAL RESOURCE DEFINED AT STUREC

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** This announcement is authorised by the executive board on behalf of the Company **

MetalsTech Limited ACN 612 100 464 Unit 1, 44 Denis Street, Subiaco WA 6008 www.metalstech.net

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Sturec Gold Mine

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č

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1 AuEq g/t = ((Au g/t gradeMet. Rec.Au price/g) + (Ag g/t gradeMet. Rec.Ag price/g)) / (Met. Rec.*Au price/g) Long term Forecast Gold and Silver Price (source: Bank of America): $1,785 USD/oz and $27 USD/oz respectively. Gold And silver recovery from the 2014 Thiosulphate Metallurgical test work: 90.5% and 48.9% respectively. It is the Company’s opinion that both gold and silver have a reasonable potential to be recovered and sold from the Sturec ore using Thiosulphate Leaching/Electrowinning as per the recoveries indicated.

** This announcement is authorised by the executive board on behalf of the Company **

MetalsTech Limited ACN 612 100 464 Unit 1, 44 Denis Street, Subiaco WA 6008 www.metalstech.net

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** This announcement is authorised by the executive board on behalf of the Company **

MetalsTech Limited ACN 612 100 464 Unit 1, 44 Denis Street, Subiaco WA 6008 www.metalstech.net

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Mineralisation and Exploration Potential

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Mineral Resource Estimation

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** This announcement is authorised by the executive board on behalf of the Company **

MetalsTech Limited ACN 612 100 464 Unit 1, 44 Denis Street, Subiaco WA 6008 www.metalstech.net

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** This announcement is authorised by the executive board on behalf of the Company **

MetalsTech Limited ACN 612 100 464 Unit 1, 44 Denis Street, Subiaco WA 6008 www.metalstech.net

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** This announcement is authorised by the executive board on behalf of the Company **

MetalsTech Limited ACN 612 100 464 Unit 1, 44 Denis Street, Subiaco WA 6008 www.metalstech.net

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** This announcement is authorised by the executive board on behalf of the Company **

MetalsTech Limited ACN 612 100 464 Unit 1, 44 Denis Street, Subiaco WA 6008 www.metalstech.net

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Mineral Resource Statement

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1 AuEq g/t = ((Au g/t gradeMet. Rec.Au price/g) + (Ag g/t gradeMet. Rec.Ag price/g)) / (Met. Rec.*Au price/g) Long term Forecast Gold and Silver Price (source: Bank of America): $1,785 USD/oz and $27 USD/oz respectively. Gold And silver recovery from the 2014 Thiosulphate Metallurgical test work: 90.5% and 48.9% respectively. It is the Company’s opinion that both gold and silver have a reasonable potential to be recovered and sold from the Sturec ore using Thiosulphate Leaching/Electrowinning as per the recoveries indicated.

** This announcement is authorised by the executive board on behalf of the Company **

MetalsTech Limited ACN 612 100 464 Unit 1, 44 Denis Street, Subiaco WA 6008 www.metalstech.net

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Table 1: Optimised open pit shell parameters.

Item Units Value Justification
Mining Cost US$/t
mined		 2.06 Provided by Optimal Mining Solutions and benchmarked against their
recent experience of miningcosts in Europe
Incremental cost of
mining		 $/t/10m 0.05 Provided by Optimal Mining Solutions and benchmarked against their
recent experience of miningcosts in Europe
MiningDilution % 2 IndustryStandard assumption for openpit
MiningRecovery % 98 IndustryStandard assumption for openpit
Goldprice US$per oz 1785 Bank of America LongTermprice forecast
Silverprice US$per oz 27 Consensus LongTermprice forecast
Recovery Au
(Thiosulphate)		 % 90.5 Based on Thiosulphate Leaching metallurgical testwork results from
2014(range 88% – 94%).
Recovery Ag
(Thiosulphate)		 % 48.9 Based on Thiosulphate Leaching metallurgical testwork results from
2014(range 41% – 57%).
Processing cost
(Thiosulphate)		 US$/t milled 11.46 Based on Thiosulphate Leaching metallurgical testwork results and
cost estimates from 2014. Escalated 16% to 2021 equivalent costs.
Overland conveyor and
crushing		 $/t milled 2.84 Based on plans to transport ore to a more suitable location for the
Thiosulphate Leaching and Electrowinning and escalated to 16% to
2021 equivalent costs.
General and
Administration		 $/t milled 3.47 Based on previous costs estimates from 2013 and escalated to 16%
to 2021 equivalent costs.
Tailings $/t milled 5.01 Based on previous costs estimates from 2013 and escalated to 16%
to 2021 equivalent costs.
Closure cost provisions $/t milled 1.87 Based on previous costs estimates from 2013 and escalated to 16%
to 2021 equivalent costs.
Overall slope angle Degree 48 Based on geotechnical and groundwater modelling of host rock units.
Royalty Calculation % 1.43 (Mining Cost/Total Cost)Revenue3%

** This announcement is authorised by the executive board on behalf of the Company **

MetalsTech Limited ACN 612 100 464 Unit 1, 44 Denis Street, Subiaco WA 6008 www.metalstech.net

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Table 2: Mineral Resource Estimate – Sturec Gold Project

Updated Sturec Mineral Resource Estimate Updated Sturec Mineral Resource Estimate Updated Sturec Mineral Resource Estimate Updated Sturec Mineral Resource Estimate Updated Sturec Mineral Resource Estimate Updated Sturec Mineral Resource Estimate Updated Sturec Mineral Resource Estimate
Resource Estimate above 0.26 g/t Au cut-off and within an optimised open pit shell
Resource
Category		 Tonnes (kt) Au (g/t) Ag (g/t) AuEq
(g/t) 1		 Au (koz) Ag (koz) AuEq
(koz)
Measured 15,340 1.43 12.04 1.53 704 5,940 752
Indicated 18,438 1.20 6.74 1.25 709 3,995 742
Measured +
Indicated		 33,778 1.30 9.15 1.38 1413 9,935 1494
Inferred 4,717 0.72 6.56 0.77 109 995 117
TOTAL 38,495 1.23 8.83 1.30 1,522 10,930 1,611
Resource Estimate above 2 g/t Au cut-off: outside optimised open pit shell
Resource
Category		 Tonnes (kt) Au (g/t) Ag (g/t) AuEq
(g/t)1		 Au (koz) Ag (koz) AuEq
(koz)
Measured 30 2.90 21.18 3.08 3 21 3
Indicated 114 3.75 10.5 3.81 14 38 14
Measured +
Indicated		 144 3.57 12.74 3.66 17 59 17
Inferred 4 2.73 8.0 2.80 0 1 1
TOTAL 148 3.55 12.62 3.64 17 60 18

1 AuEq g/t = ((Au g/t gradeMet. Rec.Au price/g) + (Ag g/t gradeMet. Rec.Ag price/g)) / (Met. Rec.*Au price/g) Long term Forecast Gold and Silver Price USD/oz (source: Bank of America): $1,785 and $27 respectively. Gold And silver recovery from the 2014 Thiosulphate metallurgical test work: 90.5% and 48.9% respectively. It is the Company’s opinion that both gold and silver have a reasonable potential to be recovered and sold from the Sturec ore using Thiosulphate Leaching/Electrowinning as per the recoveries indicated.

Figure 8: Grade tonnage curve for the Sturec Mineral Resource Estimate within the optimised open pit

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** This announcement is authorised by the executive board on behalf of the Company **

MetalsTech Limited ACN 612 100 464 Unit 1, 44 Denis Street, Subiaco WA 6008 www.metalstech.net

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Figure 9: Sturec Resource Model showing Resource Category

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** This announcement is authorised by the executive board on behalf of the Company **

MetalsTech Limited ACN 612 100 464 Unit 1, 44 Denis Street, Subiaco WA 6008 www.metalstech.net

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** This announcement is authorised by the executive board on behalf of the Company **

MetalsTech Limited ACN 612 100 464 Unit 1, 44 Denis Street, Subiaco WA 6008 www.metalstech.net

APPENDIX A: JORC CODE, 2012 EDITION – TABLE 1

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Section 1 - Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections)

Criteria JORC Code Explanation Details
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.		 •
The Mineral Resource estimate was calculated using geological data supplied to Measured
Group by MetalsTech Limited including sampling from adits, diamond drilling (from surface
and underground), reverse circulation (“RC”) surface drilling and trenches.
•
The geological database used to support the 2021 Mineral Resource estimate contains 245
drill holes for a total of 57,089m.
•
All available data was used for geological interpretation and for grade estimation.
MTC drilling
•
Routine samples over prospective mineralised intervals from diamond drill core as determined
by an experienced geologist are 1m half drill core; or quarter core for duplicates (routine ½
core sample sawn into two ¼ core samples).
•
Entire sample sent to ALS laboratory in Romania for preparation and fire assay analysis, while
the four-acid digest with ICPAES will be completed at the ALS laboratory in Ireland.
•
90% of sample to be crushed to <2mm. Sample is then dried and riffle split to produce a 1kg
split. 1kg split then pulverised to 85% passing <75µm to produce a 50g charge for fire assay
for gold analysis and a 0.25g sample for four acid digestion (near-total) with an ICPAES
(inductively coupled plasma atomic emission spectroscopy) finish for 33 elements including
Ag, Cu, Co, Pb, Zn, etc.
•
If coarse-grained gold is encountered then Au will also be analysed by screen fire assay. The
remaining sample from the 90% of the original routine sample that was crushed to <2mm
and dried is then riffle split again to produce another 1kg split. This 1kg split is then dry
screened to a nominal 106 micron. Duplicate 50g fire assays with AAS finish are then
performed on the undersize, and fire assay with gravimetric finish is done on the entire
oversize fraction. Then the total gold content is calculate and reported, using the individual
assays and weight of the fractions.
Historic Drilling
•
Diamond drill core was used to obtain samples which were sawn in half longitudinally then
one half of the core was submitted for assaying and the remainder was stored on site. The
half core was crushed and pulverised prior to assay.
•
RC holes were drilled with a using a 130mm (5.1 inch) diameter face-sampling bit with 1m
samples collected through a cyclone. 1m samples were then riffle split to provide 2-3 kg
samples for analysis.
•
Core and RC samples were pulverised down to 90% passing -150 mesh (106µm). Then 100-
120g of the pulp was weighed and bagged with the sample ticket inside.

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Criteria JORC Code Explanation Details
•
Geochemical samples were mainly fire assayed (either 30g or 50g charge) and gold grades
were read using AAS or gravity. Some check assays for gold were completed using Aqua Regia
digestion and grades were read using AAS. For silver geochemical samples were completed
using Aqua Regia digestion and grades were read using AAS or a four-acid digest followed by
ICP-AES analysis.
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).		 •
Samples came from a combination of diamond drilling, RC drilling and bench channel sample
surveys within existing mining voids.
•
None of the diamond core was oriented.
•
The most recent diamond drill holes (2020-2021) were drilled with mainly NQ (47.6 mm core
diameter) but some BQ (36.5mm core diameter) sized tails were drilled were drilling
difficulties were encountered.
•
The next most recent diamond drill holes (2011-2012) were drilled with a combination of PQ
(85mm core diameter), HQ (63.5 mm core diameter) and NQ (47.6 mm core diameter) size
in order to be able to obtain larger sample volumes from the mineralised zones and to reach
the targeted depths. All these drill holes started at PQ and were then only reduced if ground
conditions prevented further drilling, then the hole was cased off and drilled further with
smaller diameter drilling gear.
•
Previously (1996-2008) diamond drill holes were drilled with a combination of HQ (63.5 mm
core diameter) and NQ (47.6 mm core diameter) size. These drill holes started at HQ and
were then only reduced if ground conditions prevented further drilling and then the hole
needed to be cased off.
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 recovery is measured as the length of core recovered versus the depth of the drill hole.
In detail, the length of each ‘run’ of core recovered (between 0-3m) is measured and its
length compared to the length the drillers measured from the drill rod advance.
•
The core recovery for all drill holes so far is excellent, greater than 90%.
•
RC sample recovery of holes used for the resource estimate was estimated at approximately
75%.
•
Historic drilling records indicate that core recovery at the Sturec Project was consistently
good, where historic mining voids have not been encountered.
•
No relationship between sample recovery and grade has been interpreted in assay results
received so far as recovery is excellent.
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.		 •
The drill core has been geologically and geotechnically logged to a level to support appropriate
Mineral Resource estimatation, mining studies and metallurgical studies. Core is logged both
qualitatively and quantitatively.
MTC drilling

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Criteria JORC Code Explanation Details
•
All logging data is digitally captured via excel spreadsheets, which are then validated when
they are imported into a resource modelling software package.
•
Core photography is completed for all drill holes.
•
The entire length of drill core is logged.
Historic drilling
•
A sampling of drill logs by the author indicated that the logs contained adequate locational,
sampling and assay data.
•
Core photography is available for most of the historic drill holes (especially the significantly
mineralised zones) that support the current resource estimate.
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.		 MTC Drilling
•
Routine samples over prospective mineralised intervals from diamond drill core as determined
by an experienced geologist are sawn into 1m half drill core; or quarter core for duplicates.
•
Same side of drill core sampled to ensure no selective sampling bias.
•
The other half of the core was retained for geological reference and potential further sampling,
such as metallurgical test work.
•
Entire sample sent to ALS laboratory in Romania for preparation and fire assay analysis, while
the four-acid digest with ICPAES is completed at the ALS laboratory in Ireland.
•
90% of sample crushed to <2mm. Sample then dried and riffle split. 1kg split then pulverised
to 85% passing <75µm to produce a 50g charge for fire assay for gold analysis and a 0.25g
sample for four acid digestion (near-total) with an ICPAES (inductively coupled plasma atomic
emission spectroscopy) finish for 33 elements including Ag, Cu, Co, Pb, Zn, etc.
•
The remainder of the material is retained as a coarse split for metallurgical test work.
•
Remaining pulps are retained for analyses such as second laboratory check assays.
•
Duplicate samples (routine 1m ½ core sample sawn in half to produce two ¼ core samples)
taken every 30 samples or at least one per hole if less than 30 samples taken.
•
A Certified Reference Material (CRM or ‘Standard’) is inserted into the routine sample
sequence approximately every 30 samples or at least one per hole if less than 30 samples
taken.
•
A blank (material with no concentrations of economic elements under consideration) is
inserted into the routine sample sequence approximately every 30 samples or at least one
per hole if less than 30 samples taken.
•
Sample prep techniques utilised are industry standard for Carpathian epithermal-style gold
mineralisation and are considered appropiate.
•
Samples sizes are considered appropriate for the grain-size of the material being
Historic drilling
•
Drill core was sawn in half longitudinally, then dried, crushed and pulverised.

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Criteria JORC Code Explanation Details
•
RC samples were riffle split and are assumed to have been dry because the water table is well
below the level the RC holes reached.
•
QA/QC procedures for the most recent drilling by Ortac in 2011 followed industry norms.
Commercial Standards of suitable grade ranges, blanks and duplicates were inserted as blind
samples into all batches of pulps sent to the laboratory. Standards were submitted at an
approximate rate of 1 in 25 with blanks, and duplicates, inserted at a rate of approximately
1 in 30. SRK concluded in their 2013 Pre-Feasibility Study (PFS) that the QA/QC protocols
were in line with international standards, and the reported data quality and quantity appears
to be sufficiently robust to support a Mineral Resource Estimate under the guidelines of the
JORC Code (2004). The Competent Person has reviewed the QA/QC protocols and data, and
agrees with the assessment of SRK (2013) that the reported data is of a sufficient quantity
and quality to support a Mineral Resource Estimate under the guidelines of the JORC Code
(2012).
•
The reliability of sub-sampling techniques and sample preparation has been confirmed by re-
sampling and re-assaying of existing drill core and pulps and the use of alternative laboratory
assay checks.
•
Sample sizes were 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.		 MTC Drilling
•
Analysis completed by using 50g charge for fire assay for gold analysis and a 0.25g sample
for four acid digestion (near-total) with an ICPAES (inductively coupled plasma atomic
emission spectroscopy) finish for 33 elements including Ag, Cu, Co, Pb, Zn, etc.
•
If coarse-grained gold is encountered then Au will also be analysed by screen fire assay. The
remaining sample from the 90% of the original routine sample that was crushed to <2mm
and dried is then riffle split again to produce another 1kg split. This 1kg split is then dry
screened to a nominal 106 micron. Duplicate 50g fire assays with AAS finish are then
performed on the undersize, and fire assay with gravimetric finish is done on the entire
oversize fraction. Then the total gold content is calculate and reported, using the individual
assays and weight of the fractions.
•
Analysis techniques utilised are industry standard for Carpathian epithermal-style gold
mineralisation and are considered appropiate.
•
Laboratory Routine QC protocol for Au-AA26: 1 lab Blank, 2 lab CRM, 3 client duplicates,1
PREP Duplicate per batch (up to 77 samples). Laboratory Routine QC protocol for ME-
ICP61: 1 lab Blank, 2 lab CRM, 2 client duplicates,1 PREP Duplicate per batch (up to 77
samples).
•
Internal laboratory checks, as well as internal and external check assays such as repeats and
check assays enable assessment of precision. Contamination between samples is checked for
by the use of blank samples (laboratory and company inserted). Assessment of accuracy will
be carried out by the analysis of the assay results of the CRMs.
•
QAQC results are reviewed on a batch-by-batch basis. Any deviations from acceptable
precision or indications of bias are acted upon prior to announcing any results with repeat
and check assays.

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Criteria JORC Code Explanation Details
Historic drilling
•
Ortac geochemical samples were fire assayed (50g charge) with an Atomic Absorption (AAS)
finish, which is still industry standard. Any samples with grades of over 10g/t Au were then
fire assayed again and finished by gravity. The silver samples were assayed using
conventional ICP-AES analysis and any grades of silver above 100g/t were re-assayed by
aqua regia digestion with an AAS finish. Laboratory standards, blanks and duplicates were
also routinely inserted into the sample analysis sequence to monitor accuracy and possible
contamination.
•
Tournigan 2005-2008 geochemical samples were fire assayed (50g charge) with an Atomic
Absorption finish. Laboratory standards and blanks were routinely inserted into the analysis
sequence for the laboratory to monitor accuracy and any traces of contamination respectively.
A small percentage of samples were also re-assayed as laboratory duplicates using an aqua
regia (4 parts hydrochloric and 1 nitric acid) digestion with an Atomic Absorption finish.
Results of the laboratory duplicates were within an acceptable range when compared against
the routine fire assay (50g charge) with an Atomic Absorption finish assay result.
•
Argosy 1996-1997 geochemical samples sent to SGS and Chemex were fire assayed (30g
charge) with an atomic adsorption finish to obtain gold assay results. The silver assay results
from SGS were derived from an aqua regia digestion with an atomic adsorption finish. Assays
for 34 elements including silver, determined by the ICP analytical method, were also
completed for multiple mineralised intervals at the Chemex laboratory.
•
There are few records of sample preparation and analysis methods for the early work done
by Rudne Bane and the Slovak Geological Survey. However, re-analysis of the Rudne Bane
channel sampling pulps and Slovak Geological Survey drilling by Argosy between 1996-1997
confirms their validity.
•
Fire Assay is totally destructive and is considered the most accurate precious metal assay
method.
•
QA/QC procedures for the most recent drilling by Ortac in 2011 followed industry norms.
Commercial Standards of suitable grade ranges, blanks and duplicates were inserted as blind
samples into all batches of pulps sent to the laboratory. Standards were submitted at an
approximate rate of 1 in 25 with blanks, and duplicates, inserted at a rate of approximately
1 in 30. SRK concluded in their 2013 PFS that the QA/QC protocols were in line with
international standards, and the reported data quality and quantity appears to be sufficiently
robust to support a Mineral Resource Estimate under the guidelines of the JORC Code (2004).
The Competent Person has reviewed the QA/QC protocols and data, and agrees with the
assessment of SRK (2013) that the reported data is of a sufficient quantity and quality to
support a Mineral Resource Estimate under the guidelines of the JORC Code (2012).
•
QA/QC procedures for the Tournigan 2005-2008 drilling data included standards being
inserted at an approximate rate of 1 in 50, and blanks and duplicates being inserted at an
approximate rate of 1 in 30. While this insertion rate of standards is considered low by today’s
industry standards it is not considered unacceptable. The Competent Person believes that the
reported data is of sufficient quantity and quality to support a Mineral Resource Estimate
under the guidelines of the JORC Code (2012).

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Criteria JORC Code Explanation Details
•
The Tournigan 2005-2008 drilling data was also subjected to a second laboratory check assay
study. A total of 96 pulp samples from the 2005 Tournigan RC holes were re-assayed for gold
and silver by the OMAC laboratory in Ireland. They had been originally analysed by Chemex
in Canada. The duplicate check assay samples represent 3.04% of the total number of
samples (3,156) collected from the RC drilling and included in the database. An additional 79
pulp samples from Tournigan’s diamond drill holes completed from 2006-08 were re-assayed
as blind duplicates by ALS Chemex in Romania. The check assay samples represent 2.82%
of the total number of samples (2,806) collected from the core drilling. Comparison of the
original and check assay results showed a very slight negative bias for the gold assays. The
correlation coefficient between the two sets of results was 1, which adds to the confidence
that the Tournigan drilling assay results are suitable to be used for resource estimation
purposes.
•
As little to no QA/QC data was available on the Argosy 1996-1997 drilling data a second
laboratory check assay study was completed to help validate the historic assay data. A total
of 366 coarse split samples from Argosy diamond drill holes were re-assayed in 2005 for gold
and silver by the OMAC laboratory in Ireland. 268 (or 73%) of these had been originally
analysed by Chemex in Canada, the remainder had been analysed by the Slovakian Geological
Survey. The check assay samples represent 3.8% of the total number of samples (9,647)
collected from the Argosy 1996-97 drilling campaign. No details were available about blanks
and standards determinations in the original Argosy analyses. A comparison of the assay
results suggested the original assays were slightly conservative and therefore, the Argosy
assay results were considered to be sufficiently reliable for resource estimation purposes.
•
No QA/QC data was available on the early work done by Rudne Bane and the Slovak
Geological Survey. However, re-analysis of the Rudne Bane channel sampling pulps and
Slovak Geological Survey drilling by Argosy confirms their validity and therefore these assay
results were also considered to be sufficiently reliable for resource estimation purposes.
Verification of
sampling		 • 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.		 MTC Drilling
•
On receipt of assay results from the laboratory, the results are verified by the Exploration
Manager and by responsible geologists who compare the results with the geological logging
and remaining drill core (or core photography if site access is not possible).
•
No twins have been completed yet.
•
All primary data (logging, sample intervals and assay results) is digitally captured via excel
spreadsheets, which are then validated when they are imported into the resource modelling
software package.
•
Data is stored in secure company owned Dropbox that has a 180 day file recovery and version
history function.
•
There has been no adjustment to assay data.
Historic Drilling
•
The Competent Person for Explorations Results, Dr Quinton Hills carried out a site visit to the
Sturec Gold Project in Slovakia in December 2019 as part of MetalsTech Limited’s due
diligence investigation into the project before the acquisition. During the site visit, Dr Hills

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Criteria JORC Code Explanation Details
verified the existence and location of a subset of the historic drill hole collars in the field and
inspected the historical drill core. As part of this historical drill core inspection he verified that
several significant intersections had been sampled and that the remaining material was visibly
mineralised (identification of quartz veining and alteration associated with sulphides).
•
As core photography exits a significant amount of the significant intersections have also been
verified as sampled and visibly mineralisation (identification of quartz veining and alteration
associated with sulphides).
•
Tournigan carried out two twin drilling programmes at Kremnica. In 2005, five RC holes were
drilled to twin Argosy diamond drill holes completed in 1996-97. The results showed that on
average the RC holes have higher gold and silver grades with a positive bias of 16% in the
Au grade and 14% in the Ag grade than the corresponding cored holes. In 2008, Tournigan
twinned six of its earlier 2005 RC holes with six diamond drill holes. This comparison again
showed that on average the RC holes returned higher gold grades than the corresponding
cored holes, with a slight positive bias of 6% in the Au grade. The silver grades were lower in
the RC holes, with a negative bias of 12%.
•
Laboratory assay reports are filed with the hard copy drill logs.
•
No adjustments to assay data have occurred.
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.		 •
Locations of diamond drill hole collars, channel samples and mine workings were recorded
using S-JTSK/Krovak Datum.
•
Locations of histoic diamond drill hole collars, channel samples and mine workings were
partially confirmed by an independent consultant, Dr Hills on the site visit in December 2019.
•
The estimate in this report used the Slovakian WGS94 grid.
•
High-resolution topography over the project was acquired using LiDAR. This topography was
used during the preparation of the Mineral Resource estimate in this report.
•
This provides sufficient accuracy for the current Mineral Resource estimate.
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.		 •
Historic drill holes are typically oriented east-west and were generally drilled inclined to the
west. The drill spacing is variable over many areas of the deposit. Drill spacing over the central
part of the deposit ranges from 25 m to 50 m north-south. Surface trenches follow open-pit
contours, and underground adit sampling followed underground workings, typically running
north-east to south-west and north to south.
•
MTC drill holes fan out at various angles to the strike of the exploration target and the
adjoining mineral resource spacing as only one site within the Andrej Adit was suitable for
drilling at this time.
•
Data spacing was sufficient for estimation of Au and Ag grades by ordinary kriging and by
indicator kriging for classification as Measured, Indicated or Inferred Mineral Resources
according to the JORC Code.
•
No compositing of sample intervals was undertaken in the field. Some samples from the
historic drilling were composited to 1m lengths within the mineralisation envelopes for
resource modelling. All MTC drilling was 1m sample lengths.

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Criteria JORC Code Explanation Details
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.		 •
MTC drill holes fan out at various angles to the strike of the exploration target and the
adjoining mineral resource spacing as only one site within the Andrej Adit was suitable for
drilling at this time. As this drilling fans out a many variable angles it is interpreted that the
sampling of the structure is unbiased by the orientation of this drilling.
•
The historic drill holes were generally drilled at high angles to the strike and dip of the
mineralised domains which, given the style of mineralisation, was appropriate for minimising
sampling bias.
Sample security • The measures taken to ensure sample security. MTC Drilling
•
Samples were securely stored in company facilities prior to being completely sealed and
couriered to the ALS laboratory in Romania.
Histoiric Drilling
•
There are few records of sample preparation and analysis methods for the early work done
by Rudne Bane and the Slovak Geological Survey. However, re-analysis of the Rudne Bane
channel pulps by Argosy confirms their validity.
•
During the Argosy 1996 drilling programs, all sample intervals were securely shipped for
sample preparation and analyses to either SGS France (internationally certified laboratory) or
the Slovak Geological Survey (uncertified national laboratory).
•
During Argosy’s 1997 programme, Chemex set up a certified sample preparation facility and
trained staff on the Kremnica site. Then all samples were securely freighted to Chemex in
Canada for assay. Mr Ken Bright (Chief Geochemist) of Chemex’s Vancouver office inspected
the sample preparation facility and confirmed that the facility and defined sample preparation
procedures were acceptable.
•
During its 2005 programme, Tournigan utilised the onsite sample preparation facility to
process all the reverse circulation drill samples. These were shipped for analysis to Chemex
in Canada.
•
Subsequently (2006-2008), Tournigan has also used the Chemex laboratory in Romania for
chemical analysis and the OMAC Laboratory in Loughrea, Ireland, a subsidiary of Alec Stewart
Laboratories for check analyses.
•
During the Tournigan 2005-2008 programmes, samples were sent for analysis (Chemex in
Canada or Romania and OMAC in Ireland) by courier. Samples were put into plastic bags and
placed into a cardboard box. The plastic bag was then sealed with a signed security tag. The
list of samples with the required analyses was then placed in the box and a copy retained in
the sample book.
•
All remaining pulps from the Rudne Bane underground sampling programme, all remaining
core splits and sample pulps from the Argosy programmes and all coarse rejects and pulps
from Tournigan’s 2005-2008 programmes are stored in secure buildings on the Kremnica
mine site. Many drill core pulps have been removed during a series of re-sampling
programmes. Several mineralised intervals in the core have been completely removed and
sampled for metallurgical testing or re-sampling purposes.

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Criteria JORC Code Explanation Details
Audits or
reviews		 • The results of any audits or reviews of sampling techniques and
data.		 •
This Mineral Resource estimate is based on a significant body of technical data that has been
critically examined and validated multiple times by various independent mining consultant
groups. The sampling techniques and the data that has been used to calculate the Mineral
Resource estimates at Sturec have been analysed/reviewed: 1) 1997 Mineral Resource
estimate calculated by Western Services Engineering Inc; 2) 2004 Mineral Resource estimate
by Smith and Kirkham; 3) 2006 Mineral Resource estimate by Beacon Hill; 4) was completed
in 2009 as part of the Saint Barbara NI 43-101 compliant resource estimate; 5) 2012 as a
part of the Sturec Deposit Resource Estimate by Snowden Mining Consultants; 6) 2013 as
part of a PFS by SRK; 7) and then again most recently in the 2020 Sturec Deposit Resource
Estimate by Measured Group Pty Ltd. No significant issues with the data or sampling
techniques were identified during any of these studies.

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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 Details Details
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.		 •
Sturec Gold Project consists of the Kremnica Mining Territory (9.47 km2) owned by Slovakian limited liability
company Ortac SK, which is a wholly-owned subsidiary of Ortac UK (a private limited company registered in England
and Wales).
•
Kremnica Mining Territory’ and Mining Licence details:
‘Kremnica Mining Territory’
Name:
Mining Territory Kremnica Au-Ag
Miningarea No:
MHD-D.P.- 12
Date of Issuance:
21 January1961
Metals
•
Gold and Silver
Duration:
Indefinite
Holder of the:
Ortac, s.r.o
Amendments:
•
No. 1037-1639/2009
ORTAC,s.r.o. Mining Licence details
Name:
Ortac,s.r.o.
MiningLicense No:
1830-3359/2008
Date of Issuance:
13 November 2008
Subject:
•
Opening, preparation and exploitation of reserved mineral resource
•
Installation, conservation and decommissioning of mining work
•
Processing and refinement of mineral resources
•
Installation and operation of unloading areas and dumps
•
Opening the mining works to the public for museum purposes and related safety
maintenance works
Duration:
Indefinite
Responsible Person:
Ing. Peter Čorej
Amendments:
•
No. 773-1398/2015 dated 11 May 2015 extending the subject of the Mining License
•
No. 979-1401/2019 dated 11 June 2019 updating the information on statutory body
Name: Mining Territory Kremnica Au-Ag
Miningarea No: MHD-D.P.- 12
Date of Issuance: 21 January1961
Metals •
Gold and Silver
Duration: Indefinite
Holder of the: Ortac, s.r.o
Amendments: •
No. 1037-1639/2009
ORTAC,s.r.o. Mining Licence details
Name: Ortac,s.r.o.
MiningLicense No: 1830-3359/2008
Date of Issuance: 13 November 2008
Subject: •
Opening, preparation and exploitation of reserved mineral resource
•
Installation, conservation and decommissioning of mining work
•
Processing and refinement of mineral resources
•
Installation and operation of unloading areas and dumps
•
Opening the mining works to the public for museum purposes and related safety
maintenance works
Duration: Indefinite
Responsible Person: Ing. Peter Čorej
Amendments: •
No. 773-1398/2015 dated 11 May 2015 extending the subject of the Mining License
•
No. 979-1401/2019 dated 11 June 2019 updating the information on statutory body

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  • Criteria JORC Code Explanation Details • The Kremnica Mining Licence is located in central Slovakia between the town of Kremnica and the village of Lučky, 17km west of central Slovakia's largest city, Banska Bystrica, and 150km northeast of the capital, Bratislava.

  • • Metals Tech owns 100% of the Sturec Gold Project by completing the acquisition of Ortac UK on 14 February 2020. • As a part of the acquisition, MetalsTech Limited must also pay Arc Minerals Limited another $300,000 cash within 6 months of the acquisition; as well as grant Arc Minerals Limited a royalty equal to A$2 per ounce of resource that is delineated at the project above an open cut JORC (2012) Indicated and Measured Resources that exceeds 1.5million ounces at a grade greater than 2.5g/t AuEq after 2 years from the date of execution of the Terms Sheet but before the date that is 5 years after the date of execution of the Terms Sheet capped at 7 million ounces.

  • • Also, subject to MTC shareholder approval, Courchevel 1850 Pty Ltd (a related party of MTC chairman Russell Moran) is to be assigned a 2% net smelter royalty on all production from the project.

  • • In 2013, Arc Minerals (named Ortac Resources Limited at this time) submitted a small-scale underground mining application, which was awarded by the Central Mining Bureau in 2014. Trial underground mining commenced in June 2014 and a 40t bulk sample was extracted from Sturec for metallurgical test work.

  • • In 2016, the Regional Court in Banská Bystrica ruled against the Central Mining Bureau concerning the underground mining permit issued to Arc Minerals Limited in 2014 and revoked the decision to issue the mining permit.

  • • In May 2017, the Central Mining Bureau issued Ortac SK with an amended underground mining permit that allowed for small-scale mining activities to recommence.

  • In July 2017, Ortac SK (Arc Minerals Limited) re-commenced the trial underground mining activities at Sturec, fulfilling the condition required by Slovak regulations to preserve its right to exploit the ore deposit in the Kremnica Mining Licence Area for a minimum period of at least three years. 500t of ore was extracted and used for metallurgical test work relating to alternative processing technologies to the conventional cyanide leaching.

  • • Since 2017 (before selling the project to MetalsTech), Arc Minerals Limited has continued working with the local community and stakeholders to facilitate the development of the project.

  • In October 2019, the Central Mining Bureau issued Ortac SK with an underground mining permit that allowed for small-scale mining activities to recommence: Decision No. 827-2373 / 2019. This decision was appealed soon after being received.

  • • In February 2020, the appeals against Decision No. 827-2373 / 2019 were rejected by the State Mining Administration and the underground mining authorisation was upheld.

  • In April 2020, MetalsTech Limited re-commenced the underground mining activities at Sturec, in order to fulfill the condition required by Slovak regulations to preserve its right to exploit the ore deposit in the Kremnica Mining Licence Area for a minimum period of at least three years.

  • Although Ortac SK is officially registered as the holder of the Kremnica Mining Territory, the validity of the allocation of the Kremnica Mining Territory has been repeatedly disputed. Arguments challenging the validity of the allocation of the Kremnica Mining Territory have been raised by third parties in licensing proceedings in respect of particular mining activities within the Kremnica Mining Territory. So far, the merits of such arguments have not been assessed by the court, as the respective court decisions were issued on procedural grounds in the past. Despite the existence of reasonable legal arguments defending the validity of the allocation of the Kremnica Mining Territory, it cannot be ruled out that the challenges to its validity will eventually prevail before the court. Even if the validity of the allocation of the Kremnica Mining Territory is successfully defended in principle, there is a risk that Ortac SK’s entitlement to the Kremnica Mining Territory could be held to be limited to underground operations only.

  • • There are no environmental protected areas in the vicinity of the project resource area, except a protected lime tree situated close to the Leopold Shaft, adjacent to the monument commemorating the visit by Emperor Joseph II

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Criteria JORC Code Explanation Details
to Kremnica. Permission can be obtained to fell the tree if necessary, from the Provincial Environmental Office in
Banska Bystrica.
•
It appears that a significant part of the Kremnica Mining Licence is covered by a heritage conservation area. This is
not surprising given the extensive mining history throughout this area. The previous owners Arc Minerals Ltd used
this fact to their advantage by establishing the Andrej Kremnica Mining Museum, whose two main attractions are
the Ludavika Shaft Building and the Andrej Adit, which was established in 1982 by the State to access the main
quartz vein mineralisation. As a result, various requirements under the applicable regulations in the area of heritage
protection must be complied with. Further investigation needs to be completed to understand the effect this
Heritage Protection will have on any proposed mining activities.
•
There is one registered environmental burden located in the Kremnica Mining Territory with registration number
SK/EZ/ZH/2129. This environmental burden relates to the processing facilities including the historic waste dumps
that are situated immediately next to the Arc Minerals operation office/Andrej Kremnica Mining Museum. It is
categorized “only” as a potential (probable) environmental burden as no significant contamination/acid rock
drainage (ARD) effects have been reported concerning these historic mining remnants.
•
There is risk concerning the further development of the Sturec Gold Project due to the historic social and
environmental opposition to the development of a mining operation in this area. The opposition is believed to be
the result of two main factors: previous development plans utilised cyanide ore processing; and previous
development plans involved digging a large open pit in relatively proximity to the township of Kremnica.
o
To minimise the first risk, MetalsTech is investigating alternative gold processing methods, especially
Thiosulphate Leaching, which has previously been used quite successfully on Sturec ore samples during
metallurgical test work in 2014. Also, in 2014 the CSIRO successfully collaborated with Barrick Gold Corp.
to implement Thiosulphate ore processing technology on the Goldstrike Mine in Nevada, USA, which now
produces approximately 350,000 ounces of gold per annum for Barrick and Newmont Goldcorp Corp; proving
that this technology can be utilised economically and at significant scale.
o
To minimise the second risk, MetalsTech intends to put in place a comprehensive project stakeholder
engagement programme to attempt to understand and mitigate their concerns about the development of a
mining operation on the Sturec Gold Project. Also, the full suite of benefits to the country and local
communities that will arise from the Sturec Gold Project (such as job creation, training, capital investment,
revenue generation, procurement of goods and services locally, and community development initiatives)
need to be properly communicated to project stakeholders, so that that they can use this to motivate/ justify
the project in project-approval processes.
Exploration done
by other parties		 • Acknowledgment and appraisal of
exploration by other parties.		 •
Many exploration companies have previously explored the Sturec Gold Project and the surrounding areas. The
details of the exploration history are outlined below:
o
The Slovak Geological Survey carried out extensive exploration in the Sturec area from 1981 to 1987,
including extensive adit and cross-cut development within the Sturec zone.
o
Rudne Bane operated the open-pit mine at Sturec from 1987 to 1992 and produced 50,028t of ore averaging
1.54g/t Au. During this time, Rudne Bane conducted underground sampling of the larger mineralised portions
of the Sturec deposit (40 channels for 3,149 individual samples) and 12 underground fan drill holes (for
425.3m) into the northern-most known limits of the deposit. A total of 266 sample intervals were assayed
for gold and silver.

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Criteria JORC Code Explanation Details
o
Kremnica Banská Spolocnost (KBS), an investment company composed of former mine managers, obtained
the title to the Kremnica Mining Lease (MHD-D.P. 12) from the Slovak government on 1 April 1995. In 1995,
Argosy Mining Corporation (Argosy) of Vancouver formed a 100% owned Slovak Subsidiary, Argosy Slovakia
s.r.o., which entered into a joint venture with KBS on 6 October 1995. Argosy Slovakia purchased KBS’s
share of the joint venture on 24 April 1997 to control 100% of the mining licence through its subsidiary,
Kremnica Gold a.s. Argosy completed a core drilling programme in 1996 and a combined core and reverse-
circulation (RC) drilling programme in 1997. This core/RC program totalled 79 holes for 12,306m; 9,382.4m
of which was into the Sturec Deposit area.
o
In July 2003, Tournigan Gold Corporation (Tournigan) acquired the rights to the Sturec Project by purchasing
Kremnica Gold a.s. from Argosy. Tournigan then completed 104 diamond core and RC drill holes for
~14,000m over the period 2004 to 2008. The majority of these holes were into the Sturec Deposit, but
adjacent areas were also explored. In the summer and autumn of 2005, Tournigan executed a 36-hole
program of RC drilling as infill of Argosy’s and Tournigan’s earlier core drilling programs into the Sturec
Deposit. Tournigan also drilled five additional holes as twins of Argosy’s previous core holes. This drilling
resulted in the deposit being drilled off on approximate 50-metre centres (earlier drilling had been on
approximately 100 x 50 metre centres). The RC program results confirmed the geology and ore outlines that
were previously established by core drilling (e.g., rock types and alteration, location of zones of oxidation,
location of ore-bearing veins and stockworks, hanging walls, footwalls, thicknesses, strikes, dips, and
grades). The holes and assay results were displayed on cross-sections and recorded on logs. Samples were
collected at 1-meter intervals under the immediate supervision of a geologist, sealed in plastic bags, and
submitted for analysis and check analyses according to the required formal protocols. The holes were logged
on site by the drill geologists and again in the laboratory where qualitative samples were taken and
inventoried as geological reference samples. The bulk rejects from these RC samples are stored at the
operational offices at the Andrej Mining Museum. Tournigan also completed nine bench channel surveys
incorporating a total of 317 sample intervals. In 2004, Tournigan also conducted an 11-hole diamond drilling
programme north of Sturec at the Wolf prospect.
o
Ortac Resources (now Arc Mineral Limited) acquired the project in 2009. Since 2009 till MetalsTech acquired
the project from them in February 2020, Ortac has drilled 13 core holes for 2,771.7m within the Sturec
Deposit area. They also completed 4 drill core holes at the Vratislav Prospect, immediately to the north of
the Sturec Mineral Resource area and 3 drill core holes at the Wolf Prospect, immediately north of the
Vratislav Prospect.
Geology • Deposit type, geological setting and
style of mineralisation.		 •
The Sturec Gold Project is located in the Central Slovakia Volcanic Area in the Kremnica Mountains of the Western
Carpathians. The Central Slovakia Volcanic Field hosts several Ag–Au epithermal vein-type deposits including
Banská Štiavnica, Kremnica, Hodruša-Hámre, and Nová Bana, which were important sources of precious and base
metals in the past. The area is characterised by Tertiary pyroxene-amphibole andesite flows and tuffs of the Zlata
Studna Formation. The andesites are underlain by Mesozoic limestone. Deep-seated structures and faults within
the pre-Tertiary basement interpreted to be extensional Horst and Graben in style, focussed sub-volcanic intrusions
of gabbrodiorite, diorite, diorite porphyry, and minor quartz-diorite porphyry at depth and associated mesothermal
mineralising events, which were then overprinted by the epithermal precious metal mineralisation. In the Kremnica
area, the structure is controlled by a 6-7km long, N-S trending horst, known as the Kremnica Horst Structure,
which is interpreted to be the result of the sub-volcanic intrusions of gabbrodiorite, diorite, diorite porphyry, and
minor quartz-diorite porphyry at depth causing this zone to be uplifted relative to the two graben structures to
either side.

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Criteria JORC Code Explanation Details • The Sturec Gold Project mineralisation is classified as a low-sulphidation epithermal Ag-Au deposit type and is interpreted to have formed from low-salinity fluids composed of a mixture of meteoric and magmatic waters at temperatures mostly between ~270 to 190 °C. The mineralisation is hosted by quartz–dolomite veins also containing adularia, sericite, illite and chalcedony that cut through Neogene propyllitised (low pressure/low to medium temperature hydrothermal alteration) andesites of the Kremnica stratovolcano. The hydrothermal alteration from the veins outwards consists of silicification and potassic-metasomatism (adularia), propylitization and argillisation. Vein styles include large banded to massive quartz veins, smaller quartz veins and sheeted veins, quartz stockwork veining and silicified hydrothermal breccias.

Criteria JORC Code Explanation Details Details Details Details Details Details Details Details Details
•
The Sturec Gold Project mineralisation is classified as a low-sulphidation epithermal Ag-Au deposit type and is
interpreted to have formed from low-salinity fluids composed of a mixture of meteoric and magmatic waters at
temperatures mostly between ~270 to 190 °C. The mineralisation is hosted by quartz–dolomite veins also
containing adularia, sericite, illite and chalcedony that cut through Neogene propyllitised (low pressure/low to
medium temperature hydrothermal alteration) andesites of the Kremnica stratovolcano. The hydrothermal
alteration from the veins outwards consists of silicification and potassic-metasomatism (adularia), propylitization
and argillisation. Vein styles include large banded to massive quartz veins, smaller quartz veins and sheeted veins,
quartz stockwork veining and silicified hydrothermal breccias.
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.		 MTC Drilling
•
Drill collar details:		 EOH
Depth (m)
346.05
293.46
287.25
190.2
106.00
288.04
165.50
Drill hole
name		 Easting (m) Northing (m) RL (m) Datum Azi (°TN) Dip (°) EOH
Depth (m)
UGA-01 -435,852 -1,230,204 656 S-JTSK/ Krovak 017 -53 346.05
UGA-02 -435,852 -1,230,204 656 S-JTSK/ Krovak 022 -46 293.46
UGA-03 -435,852 -1,230,204 656 S-JTSK/ Krovak 007 -45 287.25
UGA-04 -435,852 -1,230,204 656 S-JTSK/ Krovak 297 -80
UGA-05 -435,852 -1,230,204 656 S-JTSK/ Krovak 200 -60
UGA-06 -435,852 -1,230,204 656 S-JTSK/ Krovak 344 -60
UGA-07 -435,852 -1,230,204 656 S-JTSK/ Krovak 350 -70
UGA-08 -435,852 -1,230,204 656 S-JTSK/ Krovak 265 -85
UGA-09 -435,852 -1,230,204 656 S-JTSK/ Krovak 195 -80 190.2
UGA-10 -435,852 -1,230,204 656 S-JTSK/ Krovak 195 -50
UGA-11 -435,852 -1,230,204 656 S-JTSK/ Krovak 340 -85
UGA-12 -435,852 -1,230,204 656 S-JTSK/ Krovak 350 -50 106.00
UGA-13 -435,852 -1,230,204 656 S-JTSK/ Krovak 190 -30 288.04
UGA-14 -435,852 -1,230,204 656 S-JTSK/ Krovak 195 -35 165.50
UGA-15 -435,852 -1,230,204 656 S-JTSK/ Krovak 000/360 -40
UGA-16 -435,852 -1,230,204 656 S-JTSK/ Krovak 000/360 -60

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Criteria JORC Code Explanation Details Details Details Details Details Details Details Details
•
Summary table of significant drill hole intersections so far:
Hole
Width (m)
(Down hole
depth)
Au g/t
Ag g/t
From (m)
To (m)
Cut-off (%)
(Down hole
depth)
(Down hole
depth)
UGA-16
126.00
@
5.31
7.3
1.00
127.00
0.3g/t Au cut-off and max. 7m continuous
internal dilution
including
70.00
@
9.23
7.8
40.00
110.00
0.5g/t Au cut-off and max. 7m continuous
internal dilution
including
1.00
@
584.00
333.0
41.00
42.00
and
2.00
@
13.94
14.9
106.00
108.00
1g/t Au cut-off and no internal dilution
UGA-15
124.00
@
1.47
11.6
3.00
127.00
0.3g/t Au cut-off and max. 6m continuous
internal dilution
including
14.00
@
2.70
27.5
17.00
31.00
1g/t Au cut-off and 4m internal dilution
and
3.00
@
3.75
9.5
52.00
55.00
0.5g/t Au cut-off and no internal dilution
and
7.00
@
7.97
25.3
64.00
71.00
1g/t Au cut-off and 1m internal dilution
and
9.00
@
3.77
16.4
93.00
102.00
0.5g/t Au cut-off and 2m internal dilution
UGA-14
108.00
@
2.22
7.6
26.00
134.00
0.2g/t Au cut-off and max. 7m continuous
internal dilution
Hole Width (m)
(Down hole
depth)		 Au g/t Ag g/t From (m)
(Down hole
depth)		 To (m)
(Down hole
depth)
Cut-off (%)
UGA-16 126.00 @ 5.31 7.3 1.00 127.00 0.3g/t Au cut-off and max. 7m continuous
internal dilution
including
70.00 @ 9.23 7.8 40.00 110.00 0.5g/t Au cut-off and max. 7m continuous
internal dilution
including
1.00 @ 584.00 333.0 41.00 42.00
and
2.00 @ 13.94 14.9 106.00 108.00 1g/t Au cut-off and no internal dilution
UGA-15 124.00 @ 1.47 11.6 3.00 127.00 0.3g/t Au cut-off and max. 6m continuous
internal dilution
including
14.00 @ 2.70 27.5 17.00 31.00 1g/t Au cut-off and 4m internal dilution
and
3.00 @ 3.75 9.5 52.00 55.00 0.5g/t Au cut-off and no internal dilution
and
7.00 @ 7.97 25.3 64.00 71.00 1g/t Au cut-off and 1m internal dilution
and
9.00 @ 3.77 16.4 93.00 102.00 0.5g/t Au cut-off and 2m internal dilution
UGA-14 108.00 @ 2.22 7.6 26.00 134.00 0.2g/t Au cut-off and max. 7m continuous
internal dilution

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Criteria JORC Code Explanation Details
63.00 @ 3.53 9.6 71.00 134.00 0.3g/t Au cut-off and 9m internal dilution
42.00 @ 4.98 11.9 92.00 133.00 1g/t Au cut-off and max. 5m continuous internal
dilution
including
10.00 @ 16.98 26.4 95.00 105.00 2g/t Au cut-off and 2m internal dilution
UGA-13 2.00 @ 1.74 3.5 78.00 80.00 0.3g/t Au cut-off and no internal dilution
4.00 @ 0.61 3.3 99.00 103.00 0.3g/t Au cut-off and no internal dilution
3.00 @ 0.82 8.5 132.00 135.00 0.3g/t Au cut-off and no internal dilution
19.00 @ 4.25 3.7 152.00 171.00 0.3g/t Au cut-off and max. 5m continuous
internal dilution
including
5.00 @ 14.90 6.1 157.00 162.00 0.5g/t Au cut-off and 2m internal dilution
10.00 @ 0.85 3.0 204.00 214.00 0.3g/t Au cut-off and 3m internal dilution
UGA-11 111.00 @ 0.96 5.4 15.00 126.00 0.2g/t Au cut-off and max. 7m continuous
internal dilution
including
19.00 @ 4.23 17.2 107.00 126.00 1g/t Au cut-off and 5m internal dilution
including
6.00 @ 8.39 21.0 117.00 123.00 3g/t Au cut-off and 3m internal dilution

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Criteria JORC Code Explanation Details
UGA-08 137.00 @ 0.60 1.2 0.00 137.00 0.2g/t Au cut-off and max. 3m continuous
internal dilution
including
15.00 @ 1.21 13.0 0.00 15.00 0.5g/t Au cut-off and max. 4m continuous
internal dilution
and
5.00 @ 1.22 15.3 32.0 37.00 0.5g/t Au cut-off and 1m internal dilution
and
5.00 @ 4.48 5.2 87.00 92.00 0.3g/t Au cut-off and 3m internal dilution
and
5.00 @ 1.06 4.5 126.00 131.00 0.5g/t Au cut-off and no internal dilution
and
2.00 @ 1.22 2.7 135.00 137.00 0.5g/t Au cut-off and no internal dilution
UGA-12 81.00 @ 1.90 10.3 17.00 98.00 0.3g/t Au cut-off and max. 5m continuous
internal dilution
including
35.00 @ 3.73 11.6 63.00 97.00 0.5g/t Au cut-off and max. 6m continuous
internal dilution
including
5.00 @ 20.46 21.0 92.00 97.00 1g/t Au cut-off and no internal dilution
UGA-10 2.00 @ 2.44 20.5 22.00 24.00 0.3g/t Au cut-off and no internal dilution
6.00 @ 0.89 4.2 56.00 62.00 0.3g/t Au cut-off and 2m internal dilution
including
3.00 @ 1.28 4.0 56.00 59.00 0.5g/t Au cut-off and 1m internal dilution

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Criteria JORC Code Explanation Details
60.00 @ 1.03 5.2 83.00 143.00 0.3g/t Au cut-off and max. 3m continuous
internal dilution
including
6.00 @ 1.73 9.0 83.00 89.00 0.5g/t Au cut-off and no internal dilution
and
3.00 @ 1.85 4.5 108.00 111.00 0.5g/t Au cut-off and no internal dilution
and
13.00 @ 2.06 6.3 123.00 136.00 0.5g/t Au cut-off and max. 1m continuous
internal dilution
including
2.00 @ 5.87 2.3 134.00 136.00 1g/t Au cut-off and no internal dilution
UGA-09 5.00 @ 0.64 5.6 16.00 21.00 0.3g/t Au cut-off and 3m internal dilution
4.00 @ 0.55 4.9 32.00 36.00 0.3g/t Au cut-off and 2m internal dilution
2.00 @ 2.38 3.0 46.00 48.00 0.3g/t Au cut-off and no internal dilution
2.00 @ 0.84 14.4 61.00 63.00 0.3g/t Au cut-off and no internal dilution
21.00 @ 0.96 3.6 86.00 107.00 0.3g/t Au cut-off and max. 2m continuous
internal dilution
including
7.00 @ 2.24 6.0 100.00 107.00 0.5g/t Au cut-off and 2m internal dilution
including
4.00 @ 3.31 9.0 103.00 107.00 1g/t Au cut-off and 1m internal dilution

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Criteria JORC Code Explanation Details
UGA-07 112.00 @ 0.87 7.7 16.00 128.00 0.3g/t Au cut-off and max. 5m continuous
internal dilution
including
24.00 @ 2.28 11.5 17.00 41.00 0.5g/t Au cut-off and max. 7m continuous
internal dilution
including
4.00 @ 10.86 36.2 34.00 38.00 1g/t Au cut-off and 2m internal dilution
5.00 @ 1.11 5.2 92.00 97.00 0.5g/t Au cut-off and 1m internal dilution
3.00 @ 1.57 5.0 112.00 115.00 0.5g/t Au cut-off and no internal dilution
UGA-06 70.00 @ 3.43 14.7 33.00 103.00 0.3g/t Au cut-off and max. 6m continuous
internal dilution
including
5.00 @ 5.52 19.9 36.00 41.00 1g/t Au cut-off and no internal dilution
and
8.00 @ 8.55 22.5 56.00 64.00 2g/t Au cut-off and 1m internal dilution
and
5.00 @ 4.81 36.4 75.00 80.00 2g/t Au cut-off and 3m internal dilution
and
4.00 @ 22.81 37.4 98.00 102.00 2g/t Au cut-off and no internal dilution
UGA-05 32.00 @ 4.62 17.5 70.00 102.00 0.3g/t Au cut-off and max. 3m continuous
internal dilution
including
9.00 @ 14.53 48.2 90.00 99.00 2g/t Au cut-off and 3m internal dilution

==> picture [57 x 54] intentionally omitted <==

Criteria JORC Code Explanation Details
UGA-04 90.00 @ 3.88 13.9 0.00 90.00 0.3g/t Au cut-off and max. 6m continuous
internal dilution
including
9.00 @ 11.66 62.3 14.00 23.00 2g/t Au cut-off and 1m internal dilution
and
6.00 @ 33.76 36.2 43.00 49.00 1g/t Au cut-off and no internal dilution
UGA-03 73.00 @ 2.14 8.8 211.00 284.00 0.3g/t Au cut-off and max. 3m continuous
internal dilution, including a 1.39m historic
miningvoid
including
31.61 @ 3.76 11.0 248.00 279.61 0.5g/t Au cut-off and max. 2m continuous
internal dilution
including
24.00 @ 4.74 13.4 252.00 276.00 1g/t Au cut-off and max. 3m continuous internal
dilution
including
15.00 @ 6.70 15.3 252.00 267.00 2g/t Au cut-off and max. 3m continuous internal
dilution
including
7.00 @ 11.65 24.7 260.00 267.00 5g/t Au cut-off and max. 1m continuous internal
dilution
UGA-02 7.90 @ 0.58 9.2 0.10 7.80 0.3g/t Au cut-off and max. 3m continuous
internal dilution
and
9.00 @ 0.94 6.5 17.00 26.00 0.3g/t Au cut-off and max. 2m continuous
internal dilution
including
4.00 @ 1.52 10.2 17.00 21.00 0.5g/t Au cut-off and max. 1m continuous
internal dilution
5.00 @ 0.91 13.7 46.00 51.00 0.5g/t Au cut-off and max. 2m continuous
internal dilution

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Criteria JORC Code Explanation Details
8.00 @ 0.92 5.0 92.00 97.00 0.5g/t Au cut-off and max. 2m internal dilution
26.00 @ 1.20 5.8 111.00 137.00 0.5g/t Au cut-off and max. 2m internal dilution
including
7.00 @ 1.60 4.3 111.00 118.00 1g/t Au cut-off and max. 2m continuous internal
dilution
and
6.00 @ 1.50 10.8 124.00 130.00 1g/t Au cut-off and max. 1m continuous internal
dilution
3.00 @ 0.82 4.1 152.00 155.00 0.3g/t Au cut-off and no internal dilution
15.00 @ 1.16 3.5 168.00 183.00 0.5g/t Au cut-off and max. 1m continuous
internal dilution
including
5.00 @ 1.92 4.6 171.00 176.00 1g/t Au cut-off nd max. 2m continuous internal
dilution
UGA-01 2.00 @ 2.43 76.7 1.00 3.00 0.5g/t Au cut-off and no internal dilution
27.00 @ 0.64 13.9 1.00 28.00 0.3g/t Au cut-off and max. 4m continuous
internal dilution
including
4.00 @ 1.19 20.8 17.00 21.00 0.5g/t Au cut-off and max. 1m continuous
internal dilution
10.00 @ 0.54 3.4 48.00 58.00 0.3g/t Au cut-off and max. 2m continuous
internal dilution
10.00 @ 0.76 6.4 135.00 145.00 0.3g/t Au cut-off and max. 2m continuous
internal dilution

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Criteria JORC Code Explanation Details
including
3.00 @ 1.15 9.1 135.00 138.00 0.5g/t Au cut-off and no internal dilution
and
3.00 @ 1.04 6.4 142.00 145.00 0.5g/t Au cut-off and no internal dilution
including
12.00 @ 0.76 5.3 183.00 195.00 0.3g/t Au cut-off and max. 2m continuous
internal dilution
including
2.00 @ 2.00 6.2 192.00 194.00 0.5g/t Au cut-off and no internal dilution
16.00 @ 0.76 4.1 206.00 222.00 0.3g/t Au cut-off and max. 3m continuous
internal dilution
including
6.00 @ 1.32 6.3 216.00 222.00 0.5g/t Au cut-off and max. 1m continuous
internal dilution
10.00 @ 1.47 9.7 234.00 244.00 0.5g/t Au cut-off and max. 2m continuous
internal dilution
•
A summary of historic drill hole information used in the resour
Appendix B.		 ce estimate
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.		 •
Gold equivalent has been calculated to using gold and silver grades as well as metallurgical recovery percentages
from the 2014 Thiosulphate Metallurgical test work study.
•
AuEq g/t = ((Au g/t gradeMet. Rec.Au price/g) + (Ag g/t gradeMet. Rec.Ag price/g)) / (Met. Rec.*Au price/g)
•
Long term Forecast Gold and Silver Price used was: $1,785 USD/oz and $27 USD/oz respectively (source: Bank of
America).
•
Gold And silver recovery from the 2014 Thiosulphate Metallurgical test work: 90.5% and 48.9% respectively.
•
It is the company’s opinion that both gold and silver have a reasonable potential to be recovered and sold from the
Sturec ore using Thiosulphate Leaching/Electrowinning as per the recoveries indicated.

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Criteria JORC Code Explanation Details
• The assumptions used for any
reporting of metal equivalent values
should be clearly stated.
Relationship
between
mineralisation
widths and
intercept length		 • These relationships are particularly
important in the reporting of
Exploration Results.
• If the geometry of the mineralisation
with respect to the drill hole angle is
known,
its
nature
should
be
reported.
• If it is not known and only the
downhole lengths are reported,
there should be a clear statement to
this effect (e.g. ‘down hole length,
_true width not known’). _		 •
No new exploration results reported.
•
Historic holes were generally drilled at high angles to the strike and dip of the mineralised domains which, given
the style of mineralisation, was appropriate.
•
MTC drilling fanned out from a single collar location within the Andrej Adit as it was the only suitable drilling location
at the time. This resulted in holes intersected the mineralisation zone at variable angles.
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.		 •
All relevant diagrams are reported in the body of this announcement.
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 Sturec Gold Project resource estimate was produced by Measured Group Pty Ltd (MG) based on information
provided by MetalsTech Limited. The resource report contains summary information for all MTC and historic drilling/
underground mining void sampling campaigns within the project area and provides a representative range of grades
intersected in the relevant drill holes.
Other
substantive
exploration data		 • Other
exploration
data,
if
meaningful and material, should be
reported including (but not limited
to):
geological
observations;
geophysical
survey
results;		 •
Groundwater and geotechnical investigations were completed in 2013. The groundwater monitoring results and
geotechnical data were found to be adequate to interpret reasonable open pit slope angles for the various host rock
types for the purposes of an open pit optimisation that was used as justification for a ‘reasonable prospects of
economic extraction’ interpretation.

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Criteria JORC Code Explanation Details
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.		 •
Concerning the groundwater, it has been interpreted that the most likely current situation is that the water table
around the open pit area was drawn down due the dewatering through the ‘Heritage Adits’; with the Main Heritage
Adit being situated some 300m below and transporting the groundwater 15km away to where it eventually reaches
the surface. It was interpreted that the dewatering had occurred to the level with or below the maximum depth of
the proposed pit (~300m). However, the possibility that the dewatering was not as efficient as interpreted has also
considered and it has been recommended that up to 6 permanent monitoring wells be installed on the western and
eastern sides of the pit to the full depth of the proposed pit. The primary purpose of these wells is to determine if
there is any spatial and temporal variation in groundwater levels around the pit.
•
Geotechnical investigations found that the stability of the open pit was significantly controlled by the degree of
argillic alteration of the predominantly andesite rock mass found at Sturec (host rock of the quartz veining). The
modelling suggested that the pit slope needed to be as low as 43° in the highly argillic altered/clay rock type but
that a 50° pit slope was adequate in the other rock types. As the highly argillic altered/clay rock type only
represents a very minor part of the area were the pit slopes intersect the resource model, a 48° pit slope has been
used to the open pit optimisation study.
•
The groundwater and geotechnical investigation results have been used to model a recommended open pit design
that achieved an adequate Factor of Safety (FoS) of greater than 2.0.
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.		 •
There is good potential for the delineation of further gold mineralisation within the Sturec Gold Project area through
future exploration.
•
Prospects such as Wolf, Vratislav, Vollie Henne and South Ridge are interpreted to be extension areas to the Mineral
Resource area at Sturec. Significant gold-silver bearing quartz vein mineralisation has been identified and variably
explored/mined at each of these prospects.
•
Further exploration drilling to continue to confirm that the high-grade mineralisation continues down plunge to the
south is classified as a high priority target.

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Section 3 - Estimation and Reporting of Mineral Resources

(Criteria listed in section 1, and where relevant in section 2, also apply to this section)

Criteria JORC Code Explanation Details
Database integrity • Measures taken to ensure that data has
not been corrupted by, for example,
transcription or keying errors, between its
initial collection and its use for Mineral
Resource estimation purposes.
• Data validation procedures used.		 •
The specific measures taken by previous parties to ensure database integrity are not known but the creation
of a overall digital database for all project data has allowed for on-going review of the integrity of the data.
•
MetalsTech maintains a database that contains all drill hole survey, drilling details, lithological data and assay
results. Where possible, all original geological logs, hole collar survey files, digital laboratory data and reports
and other similar source data are maintained by MetalsTech. The database is the primary source for all such
information and was used by the Competent Person to estimate resources.
•
The Competent Person undertook consistency checks between the database and original data sources as well
as routine internal checks of database validity including spot checks and the use of validation tools in. No
material inconsistencies were identified.
Site visits • Comment on any site visits undertaken by
the Competent Person and the outcome of
those visits.
• If no site visits have been undertaken
indicate why this is the case.		 •
The Competent Person for Mineral Resources has relied on other experts to visit the project site.
•
Dr Quinton Hills, Competent Person for Exploration Results carried out a site visit to the Sturec Gold Project
in Slovakia in December 2019 as part of MetalsTech Limited’s due diligence investigation into the project
before the acquisition. During the site visit, Dr Hills verified the existence and location of a subset of the
historic drill hole collars in the field, inspected the historical drill core, reviewed the metallurgical and
mineralogical test work that was previously completed, reviewed the extensive geological database and
participated in an underground tour of the adits that form part of the historic Andrej Mine within the Sturec
Project area.
Geological
interpretation		 • Confidence
in
(or
conversely,
the
uncertainty
of)
the
geological
interpretation of the mineral deposit.
• Nature of the data used and of any
assumptions made.
• The
effect,
if
any,
of
alternative
interpretations
on
Mineral
Resource
estimation.
• The use of geology in guiding and
controlling Mineral Resource estimation.
• The factors affecting continuity both of
_grade andgeology. _		 •
Geological setting and mineralisation controls of the Sturec Project mineralisation have been confidently
established from drill hole logging and geological mapping, including the development of a robust three-
dimensional model of the major rock units.
•
Due to the confidence in the understanding of mineralisation controls and the robustness of the geological
model, investigation of alternative interpretations is unnecessary.
Dimensions • The extent and variability of the Mineral
Resource expressed as length (along strike
or otherwise), plan width, and depth below
surface to the upper and lower limits of the
Mineral Resource.		 •
Drilling indicates that the mineralisation continues up to 1600m along strike and up to 500m wide.
•
The limits of mineralisation have not been completely defined and are open at depth and along strike.
Estimation and
modelling
techniques		 • The nature and appropriateness of the
estimation technique(s) applied and key
assumptions,
including
treatment
of
extreme
grade
values,
domaining,		 •
Most assays were taken over lengths of less than 1.0m with the mode occurring at 0.8m to 1.0m. A composting
length of 1.0m was used for this resource estimate.
•
Mineralisation was modelled as three-dimensional blocks of parent size 10m X 10m X 10m with sub-celling
allowed to 0.5m X 0.5m X 0.5m.

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Criteria JORC Code Explanation Details
interpolation parameters and maximum
distance of extrapolation from data points.
If a computer assisted estimation method
was chosen include a description of
computer software and parameters used.
• The
availability
of
check
estimates,
previous estimates and/or mine production
records and whether the Mineral Resource
estimate takes appropriate account of such
data.
• The assumptions made regarding recovery
of by-products.
• Estimation of deleterious elements or other
non-grade
variables
of
economic
significance (e.g. sulphur for acid mine
drainage characterisation).
• In the case of block model interpolation,
the block size in relation to the average
sample spacing and the search employed.
• Any assumptions behind modelling of
selective mining units.
• Any
assumptions
about
correlation
between variables.
• Description
of
how
the
geological
interpretation was used to control the
resource estimates.
• Discussion of basis for using or not using
grade cutting or capping.
• The process of validation, the checking
process used, the comparison of model
data to drill hole data, and use of
reconciliation data if available.		 •
No assumptions were made regarding the modelling of selective mining units.
•
No assumptions were made about the correlation between variables.
•
Validation of the block model was made by:
o
checking that drill holes used for the estimation plotted in expected positions
o
checking that flagged domains intersections lay within, and corresponded with, domain wireframes
o
ensuring whether statistical analyses indicated that grade cutting was required
o
checking that the volumes of the wireframes of domains matched the volumes of blocks of domains in
the block model
o
checking plots of the grades in the block model against plots of drill holes
Moisture • Whether the tonnages are estimated on a
dry basis or with natural moisture, and the
method of determination of the moisture
content.		 •
Tonnages were estimated on a dry basis.
Cut-off parameters • The basis of the adopted cut-off grade(s) or
quality parameters applied.		 •
The mineralised material interpretd to have ‘reasonable prospects of eventual economic extraction’ by open-
pit methods has been defined using an optimised open pit shell, which was created by Optimal Mining Solutions
in June 2021 using current cost estimates and long term metal price forecasts. The Competent Person reported
open pit Mineral Resources as being that portion of the mineralised material that lies inside the defining pit
shell and has a cut-off grade above 0.26g/t Au. Mineralised material that lies outside the defining pit shell
and has a cut-off grade exceeding 2.00g/t Au is reported as a Mineral Resource that has ‘reasonable prospects
of eventual economic extraction’ by underground mining methods.

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Criteria JORC Code Explanation Details Mining factors or • Assumptions made regarding possible • The resource estimate has been completed with the assumption that it will be mined using open cut and assumptions mining methods, minimum mining underground mining methods. dimensions and internal (or, if applicable, • The resource estimate was divided between the optimised open pit shell completed during March 2020 by external) mining dilution. It is always Optimal Mining Solutions and outside of this shell on an underground mining basis. necessary as part of the process of determining reasonable prospects for • The optimised pit shell parameters for metallurgical recovery of Au and Ag, as well as processing costs eventual economic extraction to consider were based results of 2014 metallurgical test work investigating the Ammonium Thiosulphate processing potential mining methods, but the technology by CMC Chimie. assumptions made regarding mining • The optimised pit shell was based on the block model completed by Measured Group in March 2020 based methods and parameters when estimating on the geological interpretation completed by Snowden in 2012. Mineral Resources may not always be • The optimised pit shell was created in mining software package Deswick using the parameters shown rigorous. Where this is the case, this should below. be reported with an explanation of the basis of the mining assumptions made. Item Units Value Justification

Criteria JORC Code Explanation Details Details Details Details Details
Mining factors or
assumptions		 • Assumptions made regarding possible
mining
methods,
minimum
mining
dimensions and internal (or, if applicable,
external) mining dilution. It is always
necessary as part of the process of
determining reasonable prospects for
eventual economic extraction to consider
potential
mining
methods,
but
the
assumptions
made
regarding
mining
methods and parameters when estimating
Mineral Resources may not always be
rigorous. Where this is the case, this should
be reported with an explanation of the
basis of the mining assumptions made.		 •



 The resource estimate has been completed with the assumption that it will be mined using open cut and
underground mining methods.
•
The resource estimate was divided between the optimised open pit shell completed during March 2020 by
Optimal Mining Solutions and outside of this shell on an underground mining basis.
•
The optimised pit shell parameters for metallurgical recovery of Au and Ag, as well as processing costs
were based results of 2014 metallurgical test work investigating the Ammonium Thiosulphate processing
technology by CMC Chimie.
•
The optimised pit shell was based on the block model completed by Measured Group in March 2020 based
on the geological interpretation completed by Snowden in 2012.
•
The optimised pit shell was created in mining software package Deswick using the parameters shown
below.
Item
Units
Value
Justification
Mining Cost
US$/t mined
2.06
Provided by Optimal Mining Solutions and
benchmarked against their recent experience of
miningcosts in Europe
Incremental cost
of mining
$/t/10m
0.05
Provided by Optimal Mining Solutions and
benchmarked against their recent experience of
miningcosts in Europe
MiningDilution
%
2
IndustryStandard estimate for openpit mining
Mining Recovery
%
98
IndustryStandard estimate for openpit mining
Gold price
US$ per oz
1,785
Consensus Long Term price forecast from Bank of
America
Silver price
US$ per oz
27
Consensus Long Term price forecast from Bank of
America
Recovery Au
(Thiosulphate)
%
90.5
Based on Thiosulphate Leaching metallurgical testwork
results from 2014.
Recovery Ag
(Thiosulphate)
%
48.9
Based on Thiosulphate Leaching metallurgical testwork
results from 2014.
Processing cost
(Thiosulphate)
US$/t milled
11.46
Based on Thiosulphate Leaching metallurgical testwork
results and cost estimates from 2014. Escalated 16% to
2021 equivalent costs.
Overland conveyor
and crushing
$/t milled
2.84
Based on plans to transport ore to a more suitable
location for the Thiosulphate Leaching and
Electrowinning and escalated to 16% to 2021
equivalent costs.
General and
Administration
$/t milled
3.47
Based on previous costs estimates from 2013 and
escalated to 16% to 2021 equivalent costs.
Item Units Value Justification
Mining Cost US$/t mined 2.06 Provided by Optimal Mining Solutions and
benchmarked against their recent experience of
miningcosts in Europe
Incremental cost
of mining		 $/t/10m 0.05 Provided by Optimal Mining Solutions and
benchmarked against their recent experience of
miningcosts in Europe
MiningDilution % 2 IndustryStandard estimate for openpit mining
Mining Recovery % 98 IndustryStandard estimate for openpit mining
Gold price US$ per oz 1,785 Consensus Long Term price forecast from Bank of
America
Silver price US$ per oz 27 Consensus Long Term price forecast from Bank of
America
Recovery Au
(Thiosulphate)		 % 90.5 Based on Thiosulphate Leaching metallurgical testwork
results from 2014.
Recovery Ag
(Thiosulphate)		 % 48.9 Based on Thiosulphate Leaching metallurgical testwork
results from 2014.
Processing cost
(Thiosulphate)		 US$/t milled 11.46 Based on Thiosulphate Leaching metallurgical testwork
results and cost estimates from 2014. Escalated 16% to
2021 equivalent costs.
Overland conveyor
and crushing		 $/t milled 2.84 Based on plans to transport ore to a more suitable
location for the Thiosulphate Leaching and
Electrowinning and escalated to 16% to 2021
equivalent costs.
General and
Administration		 $/t milled 3.47 Based on previous costs estimates from 2013 and
escalated to 16% to 2021 equivalent costs.

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Criteria JORC Code Explanation Details Details
Tailings $/t milled 5.01 Based on previous costs estimates from 2013 and
escalated to 16% to 2021 equivalent costs.
Closure cost
provisions		 $/t milled 1.87 Based on previous costs estimates from 2013 and
escalated to 16% to 2021 equivalent costs.
Overall slope
angle		 Degree 48 Based on geotechnical and groundwater modelling of
host rock units.
Royalty % 1.43 (MiningCost/Total Cost)Revenue3%
Metallurgical
factors or
assumptions		 • The basis for assumptions or predictions
regarding metallurgical amenability. It is
always necessary as part of the process of
determining reasonable prospects for
eventual economic extraction to consider
potential metallurgical methods, but the
assumptions
regarding
metallurgical
treatment processes and parameters made
when reporting Mineral Resources may not
always be rigorous. Where this is the case,
this should be reported with an explanation
of
the
basis
of
the
metallurgical
assumptions made.		 •







•



•

 The Mineral Resource estimate was calculated using an optimised open pit shell, which assumed Thiosulphate
Leaching gold and silver extraction technology with recovery assumptions taken from a 2014 Thiosulphate
Leaching gold and silver extraction technology test work program (see details with the body of this report and
below). Also, the fact that in 2014 the CSIRO successfully collaborated with Barrick Gold Corp. to implement
Thiosulphate ore processing technology on the Goldstrike Mine in Nevada, USA, which now produces
approximately 350,000 ounces of gold per annum for Barrick and Newmont Goldcorp Corp; proves that this
technology can be utilised economically and at significant scale.
Several metallurgical test work programs have been completed at independent laboratories confirming that
the Sturec ore is amenable to industry-standard cyanide leaching processing for gold and silver. However, the
use of cyanide for ore processing was banned in Slovakia in 2014.
In response to the cyanide ban, several metallurgical test work programs assessing alternative processing
methodologies have been completed on the ore from Sturec. The three most promising are:
1.
Thiosulphate Leaching gold and silver extraction technology was investigated by the previous owners
of the project (Arc Minerals Limited) between 2011-2014. The Thiosulphate Leaching test work
results reported so far indicate that this alternate mineral processing methodology is generally
applicable to the Sturec gold-silver ores. The most encouraging results came from the latest,
Thiosulphate Leaching study completed in 2014 by CMC Chimie. In this study, Ammonium
Thiosulphate leaching of the Sturec ore (10 batches of approximately 800kg each) produced a
pregnant liquor that had a content of 3-8g/t Au and 10-25g/t Ag, which was then subjected to
electrowinning and filtering/drying, producing a copper/gold/silver cement with an overall recovery
of 90.5% for gold and 48.9% for silver. The resultant dry cement was approximately 1% gold-silver
and about 50% copper. These results were used to justify the conclusion that Thiosulphate Leaching
could be used as an alternative processing method to conventional cyanidation and that it was also
more economically viable. These results are interpreted to indicate that a further, more detailed
metallurgical test work investigation is warranted into this alternative processing method in order to
underpin further economic analysis (scoping Study or PFS) of the Sturec Gold Project in light of
Slovakia’s ban on cyanidation mineral processing.
2.
In 2016-2017, Arc Minerals also investigated the Cycladex Process as another alternative to
cyanidation. In this process a bromide-based solubilizing agent (lixiviant) leaches the ore creating
potassium gold bromide (tetrabromoaurate: KAuBr4). Then cyclodextrin, a commercially available
corn-starch derivative, is added to the resultant pregnant liquor, which results in the spontaneous
precipitation of crystals containing the gold. The gold is then released from the crystalline precipitate

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Criteria JORC Code Explanation Details
at high temperature using a furnace to yield solid gold metal. The Cycladex Process test work results
reported indicate that this alternate mineral processing methodology is also generally applicable to
the Sturec gold-silver ores and potentially cheaper than conventional cyanidation. These results are
interpreted to indicate that further investigation is warranted into this alternative processing method
and that a PFS-level metallurgical test work-study needs to be completed to underpin a revaluation
of the 2013 PFS completed by SRK in light of Slovakia’s ban on cyanidation mineral processing.
3.
As an alternative to onsite leaching, producing a gravity/floatation concentrate on site that could
then be then further processed elsewhere (Austria/Belgium) has also been investigated. Gravity
concentrate and floatation test work completed on 11 composite samples of Sturec ore found that
gold recovery ranged from 64.1 to 93.9% and silver recovery ranged from 45.1 to 83.9%. This
processing methodology is currently being used at Slovakia’s only operating gold mine, which is of a
very similar mineralisation style to Sturec; and so, there is a reasonable possibility it could also be
used at Sturec. The main deterrents to this option are the cost of transporting this concentrate
(obviously depending on the distance of the further processing facility) and the lower recovery of
gold and silver (especially in fine ores). Further work needs to be done to better constrain the
metallurgical recovery of this processing methodology across the entire orebody, as well as
understand the economic factors involved before an assessment of its suitability can be fully
determined.
Environmental
factors or
assumptions		 • Assumptions made regarding possible
waste and process residue disposal
options. It is always necessary as part of
the process of determining reasonable
prospects for eventual economic extraction
to consider the potential environmental
impacts of the mining and processing
operation. While at this stage the
determination of potential environmental
impacts, particularly for a Greenfields
project, may not always be well advanced,
the status of early consideration of these
potential environmental impacts should be
reported. Where these aspects have not
been considered this should be reported
with an explanation of the environmental
assumptions made.		 •
There has been recorded mining activity in the region of the Sturec deposit from the mid-13th century until
1992. There are several settlements around the project area. The nearest settlements to the potential open
pit site are the town of Kremnica (with a population of 5,822 in 2001) and the village of Lucky. Near the
project site, the land is mainly used for forestry, livestock farming and recreational activities such as hiking.
•
Land in the vicinity of the deposit is mostly state-owned. Some of the land to the south of the orebody and
much of the surrounding land is owned by Kremnica Municipality. As the potential mine area contained an
active open-pit mine up until 1992; and is still by law considered an active Mining Licence Area, development
near the deposit has been limited.
•
The area that has been selected as a possible plant and WMF site is mainly forested land and is largely subject
to administration by the State. Significant bentonite open pit mining activities are also occurring in this area.
The proposed conveyor belt between the mine and plant sites will traverse portions of privately-owned rural
land, but the conveyor has been routed so as not to impact on any existing settlements or buildings.
•
Before mining operations can commence the following environmental approvals must be obtained:
•
Environmental approval in terms of the Act on Environmental Impact Assessment (14 December 2005)
•
An Integrated Prevention and Pollution Control approval for the plant and WMF
•
Water permits – including permissions for water use, water discharge and any stream/river diversions
•
Hazardous wastes permit.
•
While the Sturec ore has been extensively studied and found to be acid-producing, there is a lack of significant
Acid Rock Drainage (ARD) issues associated with the historic waste dumps and extensive underground mining
development. This situation is thought to be the result of a combination of the natural oxidation depth, which
has been accelerated by the presence of extensive underground workings and very effective dewatering of

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Criteria JORC Code Explanation Details
the mine area by the various Heritage Adits. The Heritage Adits essentially transport acidic waters away from
the deposit and are so effective that even to this day no surface seepage can be seen anywhere around the
Sturec area, creating the impression that the deposit is non-acid generative. The Main Heritage Adit, some
300m below surface transports the groundwater 15km away, during which time dilution, aeration and
biogeochemical processes clean up the water before it coming to surface.
•
To control the ARD issue from the reactive waste rock it is proposed to co-dispose of this material within the
tailings facility and utilise the benign waste rock to construct the facility. On closure, it was proposed that an
elevated water table will need to be maintained within this facility and this will minimise the potential for
oxidation of the reactive rocks.
•
In 2012-2013, Arc Minerals Limited completed detailed baseline environmental surveys of the local and
regional biodiversity, habitats and ecosystems: Biodiversity Baseline Study (“BBS”).
Bulk density • Whether assumed or determined. If
assumed, the basis for the assumptions. If
determined, the method used, whether wet
or dry, the frequency of the measurements,
the nature, size and representativeness of
the samples.
• The bulk density for bulk material must
have been measured by methods that
adequately account for void spaces (i.e.
vugs,
porosity,
etc),
moisture
and
differences between rock and alteration
zones within the deposit.
• Discuss assumptions for bulk density
estimates used in the evaluation process of
the different materials.		 •
Density was assigned based on drill core measurements and measurements of bulk density from samples
taken from adits through the mineralised zone. The sampling and bulk density measurements were completed
by the previous owners of the project, Arc Minerals Limited.
•
A global density of 2.3t/m3was applied to the main resource model.
•
A separate density factor was applied to the void zones outside the collapse zone by estimating the amount
of void occurring within a block and applying that as a reduction factor to the density.
Classification • The basis for the classification of the
Mineral Resources into varying confidence
categories.
• Whether appropriate account has been
taken of all relevant factors (i.e. relative
confidence in tonnage/grade estimations,
reliability of input data, confidence in
continuity of geology and metal values,
quality, quantity and distribution of the
data).
• Whether the result appropriately reflects
the Competent Person’s view of the
deposit.		 •
The classification reflected the author’s confidence in the location, quantity, grade, geological characteristics
and continuity of the Mineral Resources.
•
The data spacing and distribution is sufficient to establish geological and grade continuity appropriate for
Mineral Resource estimation and classification and the results appropriately reflect the Competent Person’s
view of the deposit.
Audits or reviews • The results of any audits or reviews of
Mineral Resource estimates.		 •
Seven Mineral Resource estimates have been previously calculated.
•
This Mineral Resource estimate is based on a significant body of technical data that has been critically
examined and validated multiple times by various independent mining consultant groups. The sampling

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Criteria JORC Code Explanation Details
techniques, the data geological modelling that has been used to calculate the Mineral Resource estimates at
Šturec have been analysed/reviewed: 1) 1997 Mineral Resource estimate calculated by Western Services
Engineering Inc; 2) 2004 Mineral Resource estimate by Smith and Kirkham; 3) 2006 Mineral Resource
estimate by Beacon Hill; 4) was completed in 2009 as part of the Saint Barbara NI 43-101 compliant
resource estimate; 5) 2012 as a part of the Šturec Deposit Resource Estimate (JORC 2004) by Snowden
Mining Consultants; 6) 2013 as a part of a PFS by SRK (JORC 2004); 7) and then again most recently in
the 2020 Šturec Deposit Resource Estimate (JORC 2012) by mining industry consultants, Measured Group
Pty Ltd. No significant issues with the data were identified during this Mineral Resource estimate or any of
the many previously reported Mineral Resource estimates.
Discussion of
relative accuracy/
confidence		 • Where appropriate a statement of the
relative accuracy and confidence level in
the Mineral Resource estimate using an
approach
or
procedure
deemed
appropriate by the Competent Person. For
example, the application of statistical or
geostatistical procedures to quantify the
relative accuracy of the resource within
stated confidence limits, or, if such an
approach is not deemed appropriate, a
qualitative discussion of the factors that
could affect the relative accuracy and
confidence of the estimate.
• The statement should specify whether it
relates to global or local estimates, and, if
local, state the relevant tonnages, which
should be relevant to technical and
economic
evaluation.
Documentation
should include assumptions made and the
procedures used.
• These statements of relative accuracy and
confidence of the estimate should be		 •
The estimates made for this report are global estimates. Predicted tonnages and grades made from such block
estimates are useful for feasibility studies, and long, medium and short term mine planning. Individual, as
distinct from aggregated, block estimates should not be relied upon for block selection for mining.
•
Local block model estimates, or grade control estimates, whose block grades are to be relied upon for selection
of ore from waste at the time of mining will require additional drilling and sampling of blast holes.
•
Confidence in the relative accuracy of the estimates is reflected in the classification of estimates as Measured,
Indicated and Inferred.
•
Variography was completed for Gold and Silver. The variogram models were interpreted as being isotropic in
the plane with shorter ranges perpendicular to the plane of maximum continuity.
•
Validation checks have been completed on raw data, composited data, model data and Resource estimates.
•
The model is checked to ensure it honours the validated data and no obvious anomalies exist which are not
geologically sound.
•
The mineralised zones are based on actual intersections. These intersections are checked against the drill hole
data. The Competent Person has independently checked laboratory sample data. The picks are sound and
suitable to be used in the modelling and estimation process.
•
Where the drill hole data showed that no Gold existed, the mineralised zone was not created in these areas.
•
Further drilling also needs to be completed to improve Resource classification of the Inferred Resource.

==> picture [57 x 54] intentionally omitted <==

Criteria JORC Code Explanation Details
compared with production data, where
available.

==> picture [56 x 52] intentionally omitted <==

Appendix B: Drill Hole Data for Sturec Mineral Resource Estimate

HOLE ID EAST NORTH ELEVATION AZIMUTH DIP
AS-1 -435800.3 -1230205.1 720.1 270 -60
AS-10 -435686.8 -1229409.7 649.7 275 -46
AS-101 -435814.62 -1230308.19 724.46 280 -46
AS-103 -435857.54 -1230436.27 745.07 272 -46
AS-106 -435896.76 -1230518.59 760.92 281 -46
AS-107 -435862.9 -1230503.17 754.79 273 -44
AS-11 -435626.8 -1229317.9 650.05 274 -46
AS-110 -435897.26 -1230602.41 761.45 280 -45
AS-112 -435953.34 -1230695.96 767.86 93 -44
AS-115 -435902.11 -1230790.04 756.19 283 -48
AS-118 -436118.62 -1230109.71 753.11 87 -48
AS-12 -435603.8 -1229182.6 656.1 273 -66
AS-122 -436035.45 -1230062.74 758.72 90 -45
AS-122A -436035.45 -1230062.74 758.72 90 -45
AS-123 -435965.62 -1230052.22 746.48 320 -45
AS-124 -435891.27 -1229909.68 682 260 -45
AS-125 -436016.02 -1230128.2 800.48 90 -45
AS-126 -436018.4 -1230127.78 800.54 90 -90
AS-127 -436010.03 -1230195.3 790.4 90 -45
AS-128 -436012.03 -1230195.17 790.5 90 -85
AS-129 -436007.64 -1230286.59 784.36 90 -45
AS-13 -435580.3 -1229108.1 656.25 273 -65
AS-130 -436009.78 -1230286.44 784.34 90 -85
AS-134 -435502.44 -1228088.1 792.86 277 -60
AS-135 -435408.48 -1228096.77 781.87 277 -45
AS-136 -435328.04 -1227948.28 769.73 277 -60
AS-137 -435409.14 -1227935.61 784.69 277 -60
AS-141 -436009.32 -1230388.33 785.5 83 -45
AS-141A -436014.5 -1230387.9 785.8 0 -90
AS-142 -435329.33 -1227948.04 770.23 277 -45
AS-143 -435405.97 -1227935.61 783.84 277 -70
AS-144 -435551.61 -1228097.62 798.79 277 -60
AS-145 -436018.43 -1230126.88 800.74 300 -55
AS-146 -436038.05 -1230062.6 758.9 0 -90
AS-147 -436041.71 -1230064.91 758.83 155 -45
AS-148 -436020.9 -1230387.1 785.7 270 -60
AS-149 -436009.2 -1230288.4 784.5 270 -60
AS-150 -435352.3 -1228065.69 759.15 270 -60
AS-151 -436012.2 -1230191.7 790.6 263 -60
AS-152 -435356.7 -1227941.4 775.7 270 -60
AS-153 -435293.8 -1227960.4 764.8 270 -60
AS-154 -435439.3 -1228011.6 782.5 277 -45
AS-155 -435382.2 -1228022.8 778.7 270 -45
AS-2 -435783.4 -1230099.1 711.4 279 -49
AS-2.1.A -435783.3 -1230097.9 711.4 282 -53
AS-3.1.A -435786.91 -1230006.12 701.4 282 -53
AS-3.1.B -435785.73 -1230006.1 701.4 278 -76
AS-3.2 -435727.48 -1230008.7 693.5 270 -48
AS-4 -435803.7 -1229853.5 675.4 273 -50
AS-4.1.1 -435870.55 -1229895.62 682.44 274 -90
AS-4.1.A -435813.25 -1229894.4 682.84 273 -50
AS-4.1.B -435814.85 -1229894.4 682.84 282 -79
AS-4.1.C -435812.3 -1229893.5 682.84 93 -49
AS-4.2 -435662.16 -1229902.24 678.63 277 -45
AS-4.5.1.A -435864.07 -1229852.31 671.33 282 -49
AS-4.5.1.B -435862.65 -1229852.31 671.33 273 -90
AS-4.5.2 -435675.19 -1229847.43 677.31 277 -45
AS-4.D -435802.2 -1229853.5 675.4 273 -90
AS-5 -435712.29 -1229796.19 680.4 273 -60
AS-5.1.1.A -435830 -1229798.7 653.1 273 -90
AS-5.1.1.B -435849.9 -1229799.1 653 273 -50
AS-5.1.A -435764.5 -1229800.6 681.82 281 -54
AS-5.1.B -435763.6 -1229800.7 681.87 91 -50
AS-5.2 -435609.7 -1229796.8 668.4 277 -45
AS-5.3 -435649.36 -1229795.8 672.25 277 -55
AS-6 -435696.01 -1229700.87 674.3 283 -55
AS-6.1.A -435742.4 -1229676.4 671.1 281 -49
AS-6.2 -435673.81 -1229694.09 668.1 277 -55
AS-7 -435695.29 -1229900.85 683.2 271 -50
AS-8 -435744.7 -1229602.1 670.9 273 -50
AS-8.1.B -435784.2 -1229598.7 671.6 279 -50
AS-8.2 -435686.34 -1229609.96 666.73 277 -50
AS-9.1.A -435779.7 -1229499.7 658.8 282 -50
AS-9.1.B -435778.5 -1229499.7 658.8 275 -84
F-1 -435854.91 -1229820.63 623 78.7 0
F-2 -435777 -1229913 623 261.2 0
F-3 -435865.41 -1229922.25 623 117.4 0
KAT-1 -436264.39 -1229633.19 777.92 87 -46
KAT-2 -436221.78 -1229682.41 779.5 119 -45
KAT-7 -436070.1 -1229690.83 763.22 116 -50
KAT-8 -436070.86 -1229689.79 763.4 116 -45
KAT-9 -436048.3 -1229575.45 743.97 83 -45
KG-BL-1 -436036.66 -1235784.71 507.75 240 -70
KG-BL-2 -436143.14 -1235773.54 538.03 120 -45
KG-BL-3 -435945 -1235947.37 472.9 300 -45
KG-BS-1 -436464.91 -1234647.12 569.3 270 -45
KG-CV-1 -436785.58 -1233891.78 714.44 0 -90
KG-CV-2 -436825.27 -1234003.89 741.16 320 -60
KG-CV-3 -436749.72 -1234030.4 742.11 325 -60
KG-CV-4 -436862.27 -1233885.03 718.53 120 -55
KG-CV-5 -436850.94 -1233789.55 709.6 145 -50
KG-CV-6 -436528.87 -1234023.71 720.34 325 -45
KG-CV-7 -436517.64 -1233930.79 725.47 325 -60
KG-KP-1 -437119.43 -1234904.09 574.14 320 -45
KG-KP-2 -437132.22 -1234708.41 568.38 335 -45
KG-KP-2A -437101.41 -1234681.8 573.81 285 -65
KG-KP-3 -437183.74 -1234626.01 579.74 100 -45
KG-KP-5 -437041.1 -1234612.87 598.81 100 -45
KG-KP-5A -437041.28 -1234612.5 598.75 280 -45
KG-LNV-1 -436217.26 -1230441.7 706.2 280 -75
KG-LNV-3 -436291.77 -1230309.83 701.7 330 -45
KG-LNV-4 -436345.1 -1230215.05 700.5 330 -45
KG-LNV-5 -436367.83 -1230168.85 702.1 330 -45
KG-LS-655 -435823.59 -1229828.63 656 330 -45
KG-LS-662 -435822.97 -1229839.75 662.5 228.27 0
KG-LS-670 -435832.28 -1229852.38 672 246.21 0
KG-LS-680 -435829.13 -1229884.5 678 280.97 0
KG-LS-685 -435830.63 -1229907.38 683 204.78 0
KG-LVS-1 -436254.52 -1229674.58 783.2 257.41 0
KG-LVS-2 -436423.5 -1229576.41 795.7 315 -45
KG-LVZ-1 -436660.31 -1229950.97 715.2 315 -45
KGST-10R -435839.63 -1229864 674.1 120 -45
KGST-11R -435741.15 -1229751.68 680.97 0 -90
KGST-12R -435756.39 -1229897.22 692.54 270 -60
KGST-13R -435777.16 -1229950.41 699.12 270 -60
KGST-14R -435784 -1230053 707.1 270 -60
KGST-15R -435705.11 -1229750.57 677.64 270 -60
KGST-16R -435821.91 -1229857.52 674.68 270 -60
KGST-17A -435837.76 -1230049.51 717.92 0 -90
KGST-17A-1 -435866.375 -1230049.25 675.9 270 -57
KGST-17R -435841.66 -1230048.9 717.56 310 -60
KGST-18R -435841.2 -1230046.4 717.1 270 -60
KGST-19R -435857 -1230103 725 270 -60
KGST-1R -435829.96 -1229648.36 648.7 310 -60
KGST-20A -435851.52 -1230104.5 723.15 310 -60
KGST-20R -435852.5 -1230102.29 724.75 270 -59
KGST-21R -435741.3 -1229956.8 691.83 0 -90
KGST-22A -435837.88 -1229793.6 652.55 0 -90
KGST-22R -435838.96 -1229793.79 652.58 0 -90
KGST-23R -435832.37 -1229792.61 652.63 0 -90
KGST-24A -435820.05 -1229742.21 637.2 0 -90
KGST-24R -435818.38 -1229743.09 637.19 270 -60
KGST-25R -435818.2 -1229988.6 706.6 310 -56
KGST-26R -435966.89 -1230051.84 748.07 0 -90
KGST-27R -435966.31 -1230052.37 747.96 270 -60
KGST-28R -435959.02 -1230056.12 747.01 340 -59
KGST-29R -435946.2 -1230062.26 746.1 270 -67
KGST-2R -435823.2 -1229744.27 637.58 0 -90
KGST-30R -435946.04 -1230063.41 746.18 12 -60
KGST-31R -435944.61 -1230061.63 746.18 95 -60
KGST-32R -435907.79 -1230084.03 746.12 0 -90
KGST-33R -435919.3 -1230080.99 745.87 150 -58
KGST-34R -435870.3 -1229897.7 681.1 205 -60
KGST-35R -435878.7 -1229902.5 681 225 -57
KGST-36R -435833 -1229901.6 681.4 0 -90
KGST-37R -435830.48 -1229798.92 653.1 0 -90
KGST-38R -435871.64 -1229896.23 682 270 -80
KGST-39A -435813.76 -1229894.19 682.32 270 -80
KGST-39R -435814.81 -1229893.85 682.6 270 -65
KGST-3R -435821.82 -1229701.2 637.1 0 -90
KGST-40R -435863.15 -1229852.07 671.5 0 -90
KGST-41R -435802.05 -1229853.02 675.8 270 -65
KGST-42 -435739.61 -1229768.52 681.48 270 -65
KGST-42-1 -435739.61 -1229768.52 681.48 270 -85
KGST-43 -435789.42 -1229824.38 678.12 270 -45
KGST-44 -435780.38 -1229947.8 698.75 270 -50
KGST-44-1 -435779.94 -1229947.87 698.8 270 -80
KGST-45 -435778.44 -1229947.92 698.85 270 -50
KGST-46 -435784.15 -1229975.42 703.15 270 -80
KGST-47 -435782.8 -1229975.53 703.05 270 -67
KGST-4R -435831.93 -1229796.59 652.38 270 -67
KGST-5R -435796.64 -1229655.46 652.56 270 -60
KGST-6R -435732.75 -1229645.14 670.09 270 -60
KGST-7R -435753.21 -1229801.86 685.18 270 -60
KGST-8A -435833.05 -1229861 674.68 270 -60
KGST-8R -435829.53 -1229859.4 674.53 270 -60
KGST-9R -435784.5 -1229858 684.2 301 -44
KG-V-13 -435562.44 -1228924.41 691.02 300 -45
KG-V-14 -435555.69 -1228975.58 683.03 302 -45
KG-V-14A -435555.06 -1228974.55 683.07 300 -45
KG-V-4 -435551.14 -1228754.81 712.26 287 -45
KG-V-5 -435608.5 -1228929.5 694.66 289 -45
KG-V-6 -435607.63 -1228930.14 694.67 289 -80
KG-V-7 -435592.21 -1228901.24 694.17 287 -60
KG-V-8G -435741.9 -1229765.6 681.3 0 -90
KG-V-A -435884.78 -1230151.87 738.7 270 -75
KG-VKS-7 -435982.38 -1234919.6 543.06 220 -55
KG-VKS-9 -435802.3 -1234600.64 465.41 320 -55
KG-VKS-9A -435798.06 -1234604.88 464.61 90 -45
KG-VKS-9B -435798.41 -1234604.53 464.71 90 -20
KG-W-1 -435300.18 -1227911.27 770.11 296 -45
KG-W-2 -435555.95 -1228150.49 796.38 301 -45
KG-W-3 -435505.1 -1228184.2 789.72 302 -60
KP-07-01 -435883 -1229750 650 270 -65
KV-1 -434953.75 -1227509.21 733.7 183 -86
KV-14 -434942.22 -1226732.67 826.5 90 -90
KV-15 -434781 -1228426.04 683.09 90 -90
KV-18 -435898.16 -1230517.83 759.48 180 -90
KV-19 -435715.38 -1226492.39 772.02 90 -90
KV-2 -434625.3 -1227108.93 808.05 0 -90
KV-3 -434345.79 -1227624.43 844.03 272 -60
KV-4 -434679.52 -1228008.96 783.31 90 -90
KV-5 -435672.21 -1226921.73 795.44 90 -90
KV-6 -436697.12 -1229408.87 856.41 180 -90
KVS-1 -434953.01 -1227516 733.67 263 -61
KVS-10-A -437101.41 -1230919.76 698.6 90 -60
KVS-10-B -437101.9 -1230919.8 698.6 270 -60
KVS-11-A -436318.12 -1229770.49 763.89 90 -60
KVS-12 -435234.45 -1226838.5 791.73 270 -60
KVS-16 -435556.16 -1229928.96 663.69 270 -75
KVS-17 -435753.12 -1230343.55 716.18 270 -75
KVS-2 -434620.71 -1227111.91 808.72 337 -85
KVS-20 -434886.95 -1226975.67 796.92 264 -62
KVS-21 -434799.24 -1227255.83 764.93 279 -59
KVS-22 -434902.67 -1227708.68 729.39 279 -59
KVS-23 -435276.16 -1226622.37 791.22 281 -62
KVS-24 -435024.25 -1229056.79 706.52 270 -75
KVS-25 -434592.4 -1228885.32 658.9 293 -65
KVS-26 -435242.73 -1226381.65 796.36 286 -64
KVS-27 -435642.25 -1227181.03 794.01 276 -62
KVS-28 -435477.66 -1229938.95 653.02 180 -90
KVS-3 -434345.79 -1227624.43 844.49 90 -90
KVS-4 -434675.13 -1228003.99 783.98 270 -60
KVS-7-A -437488.05 -1231636.24 654.54 310 -80
KVS-7-B -437488.86 -1231635.48 654.56 310 -60
KVS-8-A -437236.12 -1231431.79 676.57 310 -80
KVS-9-A -437168.14 -1230382.22 690.3 270 -66
KVS-9-B -437168.96 -1230386.56 689.95 90 -60
M -435844.41 -1230118.88 708 225 0
O -435751.5 -1229937.38 656 259.7 0
P-1 -435800 -1229935.38 656 288.4 0
P-10 -435861.19 -1230181.13 708 221.2 0
P-11 -435862.59 -1230230 708 229.4 0
P-11S -435894 -1230254.38 708 123.7 0
P-12 -435864.59 -1230280.25 708 236.3 0
P-2 -435803 -1229984 656 276.4 0
P-3 -435820.09 -1230018.75 656 225 0
P-4 -435844.19 -1230071.25 656 240.9 0
P-5 -435852.09 -1230120.38 657.5 211.7 0
P-6 -435852.19 -1230179 657.7 212 0
P-7 -435855.91 -1230233 658.1 228.8 0
P-8 -435856.5 -1230281 658.1 229.4 0
P-9 -435855.09 -1230124.38 707.8 227.4 0
PP-1 -435881.31 -1229858.75 656 135 0
PP2N -435868.81 -1229928.13 656 116.1 0
PP2S -435869.69 -1229929.75 656 117.8 0
PP3CN -435869.69 -1229972.25 656 119.2 0
PP3CS -435870.69 -1229974.13 656 105.6 0
PP3N -435832.59 -1229995.38 656 260.5 0
PP3S -435834.09 -1229998.25 656 288.8 0
PP4A -435845 -1230073.5 656 241.9 0
PP4CN -435884.81 -1230025.25 656 118.2 0
PP4N -435842.81 -1230048.25 656 286.3 0
PP4NS -435885.31 -1230027.25 656 86.8 0
PP4S -435843.81 -1230049.75 656 299.5 0
PP5N -435862.91 -1230098 656 273.5 0
PP5S -435847.69 -1230100.88 656 282.1 0
S -435780.91 -1229947.63 656 228.8 0
SP10 -435925.41 -1230185.13 708 315 0
SP10V -435928.69 -1230171.38 708 90 0
SP9 -435948.81 -1230123 708 0 0
SP9A -435878.41 -1230136.88 708 307.7 0
SP9A2 -435874.31 -1230120.5 708 214.7 0
SP9A3 -435887.09 -1230077.63 708 76 0
STPORT -435874.09 -1229807.75 656 182.2 0
STV-1 -435837.35 -1229995.3 656.08 301 -30
STV-11 -435843.92 -1230048.78 656.2 297 -35
STV-12 -435845.84 -1230100.08 657.93 270 -35
STV-13 -435944.1 -1230096.65 657.41 301 -29
STV-2 -435838.25 -1229994.8 658.1 300 -12
STV-2A -435826.98 -1229977.12 656.6 300 -30
STV-2B -435826.55 -1229977.39 658 298 -28
STV-3 -435798.4 -1229903.1 654.45 261 -25
STV-3A -435846.14 -1230021.31 657.3 261 -12
STV-3B -435845.28 -1230021.18 658.4 297 -12
STV-4 -435846.9 -1230048.27 656.9 270 -12
STV-5 -435848.8 -1230099.9 656.91 301 -30
STV-6 -435861.47 -1230074.9 656.62 285 -60
TGS-1 -435708.61 -1229922.88 685.21 105 -45
TGS-14 -436016.66 -1230393.35 785.75 105 -45
TGS-4 -435888.13 -1230130.58 742.96 105 -65
TGS-5 -436014.05 -1230122.17 801.25 120 -45
TGS-6 -435814.03 -1229896.73 681.94 285 -45
TGS-8 -435883.76 -1230153 738.72 105 -60
TGS-9 -436008.46 -1230192.31 790.25 121 0
V-18 -435384.27 -1228557.71 686.52 105 -3
VKB-2 -435848.41 -1229590.38 623.66 99 -45
VKB-2A -435848.67 -1229590.29 622.5 96 -43
VKB-2B -435848.51 -1229590.22 624.88 120 -3
VKB-3 -435863.09 -1229688.16 624.14 120 0
VKB-3R -435862.78 -1229688.24 624.59 110 0
VKB-4 -435830.42 -1229492.25 623.88 110 -40
VKB-4A -435830.18 -1229491.98 622.72 110 -41
VKB-4B -435830.36 -1229492.11 625.46 92 -2
VKB-5 -435768.4 -1229406.72 625.47 90 -38
VKB-5B -435768.25 -1229406.74 626.84 127 -25
VKB-7 -435868.28 -1229743.34 624.29 272 -12
VKB-1 -435879.37 -1229534.61 623.3 270 -53
VKB-5A -435768.83 -1229406.72 624.3 272 -70

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