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METEORIC RESOURCES NL — Capital/Financing Update 2024
May 13, 2024
65311_rns_2024-05-13_9b1fb61d-f510-4f8f-b964-3a2eff88bc14.pdf
Capital/Financing Update
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A S X A N N O U N C E M E N T
14 May 2024
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Mineral Resources increase 150% with first Indicated Resource at the Soberbo Mining Licence
Meteoric Resources NL (ASX: MEI) ( Meteoric or the Company ) is pleased to announce an updated Mineral Resources Estimate for its Caldeira Project. A 150% increase in the Resource estimate at the Soberbo Mining Licence (ML) has increased Meteoric’s Global Mineral Resources to 545 million tonnes (Mt) at 2,561 parts per million (ppm) Total Rare Earth Oxides (TREO)[1] . Magnetic Rare Earth Oxides (MREO)[2] comprise 24.1% of this Resource estimate.
Highlights
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First Indicated Resources for the Caldeira Project 86Mt @ 2,730 ppm TREO (1,000ppm cut-off) defined at the Soberbo ML.
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Soberbo ML total Indicated and Inferred Resources are 229Mt @ 2,601ppm TREO (1,000ppm cutoff) with 645ppm (24.8%) MREO , including 158Mt @ 3,058ppm TREO (2,000 ppm cut-off).
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Updated Global Resource Estimate for Caldeira REE Project increases 33% to 545Mt @ 2,561 ppm TREO (1,000ppm cut off) with 24.1% MREO.
Meteoric’s updated Resource Estimate for the Caldeira Rare Earth Element (REE) Project in Minas Gerais Brazil follows completion of an additional 5,893m of infill Diamond and Aircore drilling on the Soberbo ML. At 1,000 ppm TREO cut-off the Global Mineral Resource stands at 545Mt @ 2,561 ppm TREO and contains MREO grades of 616ppm comprising 24.1% of TREO basket (Table 1).
Table 1: Caldeira REE Project Global Mineral Resource Estimate – by license at 1,000ppm TREO cut-off.
| Licence JORC Material Tonnes TREO Pr6O11 Nd2O3 Tb4O7 Dy2O3 MREO MREO/TREO |
Licence JORC Material Tonnes TREO Pr6O11 Nd2O3 Tb4O7 Dy2O3 MREO MREO/TREO |
Licence JORC Material Tonnes TREO Pr6O11 Nd2O3 Tb4O7 Dy2O3 MREO MREO/TREO |
Licence JORC Material Tonnes TREO Pr6O11 Nd2O3 Tb4O7 Dy2O3 MREO MREO/TREO |
Licence JORC Material Tonnes TREO Pr6O11 Nd2O3 Tb4O7 Dy2O3 MREO MREO/TREO |
Licence JORC Material Tonnes TREO Pr6O11 Nd2O3 Tb4O7 Dy2O3 MREO MREO/TREO |
Licence JORC Material Tonnes TREO Pr6O11 Nd2O3 Tb4O7 Dy2O3 MREO MREO/TREO |
Licence JORC Material Tonnes TREO Pr6O11 Nd2O3 Tb4O7 Dy2O3 MREO MREO/TREO |
Licence JORC Material Tonnes TREO Pr6O11 Nd2O3 Tb4O7 Dy2O3 MREO MREO/TREO |
Licence JORC Material Tonnes TREO Pr6O11 Nd2O3 Tb4O7 Dy2O3 MREO MREO/TREO |
|---|---|---|---|---|---|---|---|---|---|
| Category Type Mt ppm ppm ppm ppm ppm ppm % |
|||||||||
| Soberbo | Indicated Clay |
86 | 2,730 | 165 | 476 | 5 | 23 | 669 | 24.5% |
| TOTAL | INDICATED | 86 | 2,730 | 165 | 476 | 5 | 23 | 669 | 24.5% |
| Soberbo | Inferred Clay |
89 | 2,713 | 167 | 478 | 5 | 24 | 675 | 24.9% |
| Soberbo | Inferred Transition |
54 | 2,207 | 138 | 395 | 4 | 20 | 558 | 25.3% |
| Capão do Mel3 | Inferred Clay |
68 | 2,692 | 148 | 399 | 4 | 22 | 572 | 21.3% |
| Cupim Vermelho Norte3 | Inferred Clay |
104 | 2,485 | 152 | 472 | 5 | 26 | 655 | 26.4% |
| Dona Maria 1 & 23 | Inferred Clay |
94 | 2,320 | 135 | 404 | 5 | 25 | 569 | 24.5% |
| Figueira3 | Inferred Clay |
50 | 2,811 | 135 | 377 | 5 | 26 | 542 | 19.3% |
| TOTAL | INFERRED | 459 | 2,529 | 147 | 429 | 5 | 24 | 606 | 24.1% |
| Total | INDICATED + INFERRED |
545 2,561 150 437 5 24 616 24.1% |
1 TREO = La2O3 + CeO2 +Pr6O11 + Nd2O3 + Sm2O3 + Eu2O3 + Gd2O3 + Tb4O7 + Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Lu 2O3 + Y2O3
2 MREO = Pr6O11 + Nd2O3 +Tb4O7 + Dy2O3
- 3 Refer ASX release 1 May 2023
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Meteoric Resources ABN 64 107 985 651 Level 1, 35 Ventnor Avenue, West Perth WA 6005 www.meteoric.com.au | Page 1 of 33
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Executive Chairman, Dr Andrew Tunks said:
“Congratulations to the Brazil Exploration team on an outstanding result. Using Meteoric’s in-house drilling capacity we have quickly and efficiently tested the true depth extent of the clay hosted mineralisation at Soberbo with spectacular growth in the total resource and our first Indicated Resource which will feed directly into our Scoping Study. The staggering size of the project has again been illustrated and when combined with best in class grades and recoveries speaks to the potential of the Caldeira Project to become a significant long life supplier of rare earths crucial to global electrification.”
Chief Executive Officer, Nick Holthouse added:
“Very pleased to see the Soberbo resource update come to market marking another significant step forward in the Caldeira Project development.
Stepping away from the conventional contract model for infill resource drilling programs, purchasing our own multipurpose rig, employing an experienced drilling manager and drilling team was an unconventional move but has paid off handsomely. The low cost per metre and exceptional drilling rates that this team are achieving coupled with the diligent work of the geology team has enabled us to complete this update in record time.
Looking forward there is much to come over the following weeks with soon to be finalised Capão do Mel resource update, the much-anticipated Scoping Study and Southern licenses permitting process updates.”
Figure 1 below shows the extent of Meteoric’s targeted resource infill drilling programs in core areas of the Caldeira Project which will form the basis for an initial Scoping Study and future development.
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Figure 1: Soberbo ML location map with historical drill hole collar locations of all Resource Areas.
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Meteoric Resources NL ABN 64 107 985 651 Level 1, 35 Ventnor Avenue, West Perth WA 6005 www.meteoric.com.au | Page 2 of 33
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Project Information provided under ASX Listing Rule 5.8.1 Updated Resource Estimate – Soberbo ML
The updated Indicated and Inferred Resource estimate for the Soberbo ML is 229Mt @ 2,601 ppm (1,000ppm cutoff), with 645 ppm MREO (24.8%). The updated resource was completed by BNA Consulting in April 2024 after infill Diamond and Aircore drilling of 337 holes for 5,893m (Figure 2 & Table 3). This represents an increase of 150% above the previous Inferred Resources reported in 2023 and reflects the true depth of the clay horizon which was not adequately tested by historic powered Auger.
Table 2: Soberbo Mineral Resource Estimate at 1,000ppm TREO cut-off.
| Licence | JORC | Material | Tonnes | TREO | Pr6O11 | Nd2O3 | Tb4O7 | Dy2O3 | MREO | MREO/TREO |
|---|---|---|---|---|---|---|---|---|---|---|
| Category | **Type ** | Mt | ppm | ppm | ppm | ppm | ppm | ppm | % | |
| Soberbo | Indicated | Clay | 86 | 2,730 | 165 | 476 | 5 | 23 | 669 | 24.5% |
| TOTAL | INDICATED | 86 | 2,730 | 165 | 476 | 5 | 23 | 669 | 24.5% | |
| Soberbo | Inferred | Clay | 89 | 2,713 | 167 | 478 | 5 | 24 | 675 | 24.9% |
| Soberbo | Inferred | Transition | 54 | 2,207 | 138 | 395 | 4 | 20 | 558 | 25.3% |
| TOTAL | INFERRED | 143 | 2.523 | 156 | 447 | 5 | 23 | 631 | 25.0% | |
| Total | INDICATED + INFERRED | 229 | 2,601 | 160 | 458 | 5 | 23 | 645 | 24.8% |
Drilling Techniques and Hole Spacing
A total of 660 drill holes were used to estimate the resource, comprising: Diamond, Aircore and powered Auger drilling (Table 3).
Table 3: Soberbo Updated Mineral Resource - drill hole statistics.
| Hole Type | Number Holes |
Number Samples |
Total drilled (m) | Maximum depth (m) |
Average depth (m) |
|---|---|---|---|---|---|
| Diamond | 14 | 284 | 374.8 | 48.1 | 26.8 |
| Aircore | 323 | 2,849 | 5,518.0 | 77.4 | 17.1 |
| Auger | 323 | 3,035 | 2,986.7 | 20.0 | 9.3 |
| Totals | 660 | 6,168 | 8,879.4 | 77.4 | 13.5 |
Spacing for Auger holes varies across the prospect from a maximum of: 200m by 200m, infill drilled to 100m by 100m, with tighter spacing of 50m by 50m in areas. Aircore drilling was done at nominal 100m x 100m. Diamond holes had no regular spacing but were designed to check specific geologic characteristics (i.e. grade, density). Given the substantial geographic extent and generally shallow, flat lying geometry of the mineralisation, the spacing and orientation are considered sufficient to establish geologic and grade continuity.
Diamond
Diamond drilling employed a conventional wireline diamond drill rig (Mach 1200). All holes were drilled vertical using PQ diameter core to the transition zone (85mm diameter), reducing to HQ diameter core below this (63.5mm diameter). The diamond drill holes were drilled to fresh rock with the depth of clay varying between 2.5m to 24m. The maximum depth drilled was 48.1m.
Aircore
Drilling was completed using a HANJIN 8D Multipurpose Track Mounted Drill Rig, configured to drill 3-inch Aircore holes. The rig is supported by an Atlas Copco XRHS800 compressor which supplies sufficient air to keep the sample dry to the end of the hole. A deepest depth of 77.4m was reached. All holes were drilled vertical.
Most drill sites required minimal to no site preparation. On particularly steep sites, the area was levelled with a
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backhoe loader. The hole generally stopped at 'blade refusal' when the rotating bit was unable to cut the ground any deeper. This generally occurred in the transition zones (below clay zone and above fresh rock). On occasions a face sampling hammer was used to penetrate through the remaining transition zone and into fresh rock.
Powered Auger
Powered auger drilling employed a motorised post hole digger with a 4inch diameter. All holes were drilled vertical. The maximum depth achievable was 20m, providing the hole did not encounter fragments of rocks/boulders within the weathered profile, and/or excessive water. All Auger drilling was completed by previous explorers and has been reported under the JORC code in ASX:MEI 15/12/2022. The auger assay data was used to estimate the maiden resource statement for the Caldiera Project ASX:MEI 30/04/2023.
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Figure 2 : Soberbo ML Updated Resource drill hole location plan by drill type with location of type Cross-Sections shown.
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Geology and Geological Interpretation
The Cretaceous (80 Ma) Alkaline Complex of Poços de Caldas in Brazil represents an important geological terrain which hosts deposits of REE, bauxite, white clay for ceramics, uranium, zirconium and leucite. The Poços de Caldas Intrusive Complex covers an area of approximately 800km[2] . The main rock types found are intrusive and volcanic alkaline rocks of the nepheline syenite system, comprising phonolites and foidolites (syenites). Primary mineralisation includes Uranium, Zirconium and REE that are confined to the intrusives emplaced during the magmatic event. Post intrusion intense weathering of the region has resulted in an extensive clay regolith developed above the syenites.
The dominant REE mineral in the source rock (syenite) beneath the clay zone is Bastnaesite, a major source of REE worldwide. Bastnaesite is a REE carbonate-fluoride mineral (REE)CO3F and has very low levels of Uranium and Thorium in its structure. Due to the chemistry of the underling intrusives and the intense weathering of the region, a thick profile comprising soil, clay and saprolite (regolith) has formed (Figures 3-5), and these are the hosts to the ionic clay REE mineralisation.
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Figure 3: Section A – B showing: block grades, drill hole type and grade, and geologic boundaries (soil, clay, transition) - Vertical Exaggeration x 5.
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Figure 4: Section C – D showing: block grades, drill hole type and grade, and geologic boundaries (soil, clay, transition) - Vertical Exaggeration x 5.
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Figure 5: Section E – F showing: block grades, drill hole type and grade, and geologic boundaries (soil, clay, transition) - Vertical Exaggeration x 5.
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Sampling and Sub-sampling Techniques
Auger material
Each drill site was cleaned, removing leaves and roots from the surface. Tarps were placed on either side of the hole and samples of soil and saprolite where collected every 1m, homogenised, and then quartered with one quadrant collected in a plastic bag. Samples are weighed and if the samples are wet, they are dried for several days on rubber mats. After drying the samples are screened (5mm). Homogenization occurs by agitation in bags, followed by screening to <3mm. Fragments of rock or hardened clay that were retained in the sieves were fragmented with a 10kg manual disintegrator and a 1kg hammer, until 100% of the sample passed through the screening. The sample was homogenized again by agitation in bags. Finally, the sample was Split in a Jones 12 channel splitter, where 500g was sent to the lab (SGS_geosol laboratory in Vespasiano – Minas Gerais).
Diamond cores
Sample lengths for diamond drilling were determined by geological boundaries with a maximum sample length of 1 metre applied. In the saprolite zone the core was halved using a metal spatula and placed in plastic bags, and for fresh rock the core was halved using a brick saw then placed into plastic bags. Field duplicates consisted of quarter core, with two (2) quarters sent to the lab.
Aircore material
Two (2) metre composite samples were collected from the cyclone of the rig in plastic buckets which were weighed. The sample (> 6kg) was passed through a single tier riffle splitter generating a 50/50 split, with one half bagged and submitted to the laboratory, and the other half bagged and stored as a duplicate at the core facility in Pocos de Caldas. If a sample was <6kg the entire sample was bagged and submitted for assay. Given the grainsize of the mineralisation is extremely fine (clays) and shows little variability, the practice of submitting 50% of original sample for analysis was deemed appropriate.
Meteoric QAQC protocols demand a duplicate sample every 20 samples, and a blank and standard sample every 30 samples.
Sample Analysis Method
Auger
Each batch analysed at SGS Geosol Laboratory comprised approximately 43 samples. The sample preparation method employed was PRP102_E: the samples were dried at 100°C, crushed to 75% less than 3 mm, homogenised and passed through a Jones riffle splitter (250g to 300g). This aliquot was then pulverised in a steel mill to the point at which over 95% had a size of 150 microns.
Analysis followed by IMS95A to determine the Rare Earth Elements assays. With this method, samples were fused with lithium metaborate and read using the ICP-MS method, the limits or which are shown below.
Table 4 : ICP-MS method results of limits via IMS95A
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Diamond and Aircore samples
Samples are analysed by ALS Laboratories in Vespasiano (MG). Upon arriving at ALS samples received the following additional preparation:
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dried at 60°C
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the fresh rock was crushed to sub 2mm
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the saprolite was disaggregated with hammers
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Riffle split 800g sub-sample
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800 g pulverized to 90% passing 75um, monitored by sieving.
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Aliquot selection from pulp packet
The aliquot obtained from the physical preparation process at Vespasiano was sent to ALS Lima for analysis by ME-MS81 – which consisted of analysis of Rare Earth Elements and Trace Elements by ICP-MS for 32 elements by fusion with lithium borate as shown below (with detection limits):
Table 5 : ICP-MS method results for Rare Earth Elements and Trace Elements
| Code | ||||||||
|---|---|---|---|---|---|---|---|---|
| Analytes & Ranges(ppm) | ||||||||
| ME-MS81 | Ba | 0.5 – 10000 | Gd | 0.05 - 1000 | Rb | 0.2 - 10000 | Ti | 0.01 - 10% |
| Ce | 0.1 – 10000 | Hf | 0.5 - 10000 | Sc | 0.5 - 500 | Tm | 0.01 - 1000 | |
| Cr | 5 – 10000 | Ho | 0.01 - 10000 | Sm | 0.03 - 1000 | U | 0.05 - 1000 | |
| Cs | 0.01 – 10000 | La | 0.1 - 10000 | Sn | 0.5 - 10000 | V | 5 - 10000 | |
| Dy | 0.05 – 1000 | Lu | 0.01 - 10000 | Sr | 0.1 - 10000 | W | 0.5 - 10000 | |
| Er | 0.03 – 1000 | Nb | 0.05 - 2500 | Ta | 0.1 - 2500 | Y | 0.1 - 10000 | |
| Eu | 0.02 – 1000 | Nd | 0.1 - 10000 | Tb | 0.01 - 1000 | Yb | 0.03 - 1000 | |
| Ga | 0.1 – 10000 | Pr | 0.02 - 10000 | Th | 0.05 - 1000 | Zr | 1 - 10000 |
Estimation Methodology
The resource estimations are based on the block model interpolated by the Ordinary Kriging ( OK ) method, using Micromine software. Ordinary Kriging was selected as the method for grade interpolation as the sampling data has a log-normal distribution represented by a single generation.
A discretised Block Model was created in the sub-blocking process using wireframes of several surfaces: topography, base of Soil, base of Clay, and base of Transition. Mineralisation begins from near surface (0.3m – 2.0m soil coverage). Where there was no information from Diamond or Aircore drill holes (which drill to transition/fresh rock), and mineralisation was present at the end of Auger drill holes (in areas of known deep weathering), the mineralisation was assumed to extend 2m below the hole.
Initially, the model was filled with blocks measuring 25 (X) by 25 (Y) by 5 (Z) meters, which were divided into subunits of smaller size, with a factor for size subdivision of 10 by 10 by 5 in contact with the surrounding three-dimensional wireframes. The grade estimation was performed in four consecutive passes (rounds) using different criteria for: search radius, number of composite samples allowed, and number of holes the samples must come from. The radii and the orientation of the search ellipses were determined using standard variograms (see JORC Table 1 for additional discussion).
Parameters applied to each sector of a search ellipse were: the maximum number of points in the sector and the minimum total number of points in the interpolation that varies depending on the size of the ellipse, from 3 to 1. Thus, the maximum total number of samples involved in the interpolation was 12 samples.
The block model was validated in several ways: by running an Inverse Distance Weighted interpolation and comparing the results, and by comparing the means and standard deviations of the block grades to the composite data set.
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Figure 6 : Plan View of Soberbo Resource showing distribution of high grades. Oblique Section line shown as x-x'.
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Figure 7: Oblique Section X-X’ (orientation N030) through Soberbo showing distribution of high-grade zones in the block model.
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Cut-off grades, including basis for the selected Cut-off Grade
The selection of the TREO cut-off grade (1,000ppm) used for reporting was based on the experience of the Competent Person (Table 6 & Figure 8). Given a combination of Indicated and Inferred Resources (Figure 9) and in the absence of any development studies, this cut-off grade was selected based on a peer review of publicly available information from more advanced projects with comparable mineralisation styles (i.e., clay-hosted rare earth mineralisation) and comparable conceptual processing methods. Material above this cut-off generates a head feed grade of over 2,601 ppm, and in the opinion of the Competent Person, meets the conditions for reporting of a Mineral Resource with reasonable prospects of eventual economic extraction.
Table 6 : Soberbo Mineral Resource Estimate – by cut-off grade.
| cut-off | JORC | Material | Tonnes | TREO | Pr6O11 | Nd2O3 | Tb4O7 | Dy2O3 | MREO | MREO/TREO |
|---|---|---|---|---|---|---|---|---|---|---|
| ppm TREO | Category | **Type ** | Mt | **ppm ** | **ppm ** | **ppm ** | **ppm ** | **ppm ** | **ppm ** | % |
| 1000 | Indicated | Clay | 56 | 2,743 | 167 | 478 | 5 | 23 | 673 | 24.5 |
| Inferred | Clay | 61 | 2,704 | 167 | 476 | 5 | 24 | 673 | 24.9 | |
| Inferred | Transition | 28 | 2,205 | 137 | 395 | 4 | 20 | 557 | 25.3 | |
| Total Indicated + Inferred | 144 | 2,602 | 160 | 458 | 5 | 23 | 646 | 24.8 | ||
| 2000 | Indicated | Clay | 61 | 3,172 | 203 | 581 | 6 | 27 | 816 | 25.7 |
| Inferred | Clay | 68 | 3,064 | 199 | 567 | 6 | 28 | 801 | 26.1 | |
| Inferred | Transition | 29 | 2,806 | 190 | 543 | 5 | 26 | 764 | 27.2 | |
| Total Indicated + Inferred | 158 | 3,058 | 199 | 568 | 6 | 27 | 800 | 26.2 | ||
| 3000 | Indicated | Clay | 29 | 3,923 | 270 | 775 | 7 | 34 | 1,086 | 27.7 |
| Inferred | Clay | 29 | 3,830 | 269 | 763 | 7 | 35 | 1,074 | 28.1 | |
| Inferred | Transition | 7 | 3,899 | 286 | 816 | 8 | 37 | 1,146 | 29.4 | |
| Total Indicated + Inferred | 65 | 3,879 | 271 | 774 | 7 | 35 | 1,087 | 28.0 | ||
| 4000 | Indicated | Clay | 10 | 4,864 | 358 | 1,028 | 9 | 42 | 1,437 | 29.5 |
| Inferred | Clay | 9 | 4,719 | 350 | 989 | 9 | 44 | 1,392 | 29.5 | |
| Inferred | Transition | 2 | 5,157 | 408 | 1,153 | 10 | 48 | 1,618 | 31.4 | |
| Total Indicated + Inferred | 21 | 4,829 | 359 | 1,023 | 9 | 43 | 1,435 | 29.7 |
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Figure 8: Soberbo Updated Resource Estimate - Grade Tonnage Curve.
Criteria used for Classification
Mineral Resources for Soberbo ML have been classified as Indicated and Inferred.
The Competent Persons are satisfied that the classification is appropriate based on the current: level of confidence in the data, drill hole spacing, geological continuity, variography, bulk density, and licensing data available for the project.
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Figure 9: Oblique Section X-X’ (oriented N030) through Soberbo ML (outside the APA) showing distribution of Indicated v Inferred Resources.
Meteoric Resources NL ABN 64 107 985 651 Level 1, 35 Ventnor Avenue, West Perth WA 6005 www.meteoric.com.au | Page 13 of 33
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Environmental factors
There are two Environmental areas within the municipality of Caldas which encroach upon the current resources at Soberbo and Capão do Mel deposits, being:
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(i) Environmental Protection Area (“APA”) Ecological Sanctuary of Serra da Pedra Branca (established by Municipal Law of Caldas/MG nº 1.973/2006) and
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(ii) a three (3) kilometre strip surrounding the APA (“Buffer Zone”).
Part of the Soberbo resource is within the APA whilst the remaining (larger) part of Soberbo resource and the entire Capão do Mel resource are within the Buffer Zone.
Article 51 of Law of Caldas/MG nº 1.973/2006 stipulates that mining activity is currently not permitted within the APA (other than for existing activity with operating licenses). Importantly, for Meteoric’s current program no infill drilling has been performed inside the APA, nor are there current plans to conduct any exploration activities inside the APA. Additionally, the ‘Base Case’ development scenario contemplated in MEI’s current Scoping Study and Preliminary Environmental Permit (LP) application do not propose any activity inside the APA area.
Mining activity within the Buffer Zone is permitted and may be undertaken upon completion of an Environmental Impact Assessment, a proposal of measures necessary to mitigate any possible impact on ecosystems, and seeking authorization from the municipality of Caldas and the APA Management Council.
Meteoric has conducted extensive research and consultation from mid-2023 with the object of seeking and obtaining permission to conduct activities in the Buffer Zone and is confident of obtaining favourable consideration from the relevant authorities. That confidence is based upon: Environmental Impact Statement (EIS) and relevant flora and fauna and ethnographic studies completed over the area, ongoing dialogue and consultation with multiple stakeholders including favourable feedback from a Social Diagnosis and Stakeholder Survey of the Caldeira REE Project conducted by EcoDue Ambiental in December 2023, and specifically by reason of the terms of a written Protocol of Intent entered into between the Government of Minas Gerais and Meteoric Brazil [See ASX Announcement “Cooperation Agreement Signed with Government of Minas Gerais and Invest Minas” - 11 August 2023].
As such we consider there are reasonable prospects for eventual economic extraction to justify the Mineral Classifications of Indicated (within the Buffer Zone) and Inferred (within the APA).
Mining and metallurgical methods / material modifying factors
No specific mining or metallurgical methods or parameters were incorporated into the modelling process.
Proposed Further Work
Updated resource estimations for Capão do Mel and Figueira are expected in June and July respectively. Measured and Indicated Resources from these Licenses will be used as Base Case scenario in a Scoping Study to be released Q2 2024.
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Meteoric Resources NL Meteoric Resources NL ABN 64 107 985 651ABN 64 107 985 651 Level 1, 35 Ventnor Avenue, West Perth WA 6005Level 1, 35 Ventnor Avenue, West Perth WA 6005 www.meteoric.com.au www.meteoric.com.au | | Page 14 of 33Page 14 of 33
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Competent Person Statements
Dr Marcelo J De Carvalho
The information in this announcement that relates to exploration results is based on information reviewed, collated and fairly represented by Dr Carvalho a Competent Person and aa Member of the Australasian Institute of Mining and Metallurgy and a consultant to Meteoric Resources NL. Dr.Carvalho has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity which has been undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Dr. Carvalho consents to the inclusion in this report of the matters based on this information in the form and context in which it appears.
Dr. Beck Nader
The information in this report that relates to Mineral Resources is based on information compiled by Dr. Beck Nader, a Competent Person who is a Fellow of Australian Institute of Geoscientists #4472. Dr. Beck Nader is a consultant for BNA Mining Solutions. He has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify him as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Dr. Beck Nader consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Dr. Volodymyr Myadzel
The information in this report that relates to Mineral Resources is based on information compiled by Dr. Volodymyr Myadzel, a Competent Person who is a Member of Australian Institute of Geoscientists #3974. Dr. Volodymyr Myadzel is a consultant for BNA Mining Solutions. He has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Dr. Volodymyr Myadzel consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
The information in this release that relates to Mineral Resource Estimates at the Capão do Mel, Cupim Vermelho Norte, Dona Maria 1 & 2 and Figueira prospects was prepared by BNA Mining Solutions and released on the ASX platform on 1 May 2023. The Company confirms that it is not aware of any new information or data that materially affects the Mineral Resources in this publication. The Company confirms that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. The Company confirms that the form and context in which the BNA Mining Solutions findings are presented have not been materially modified.
This release has been approved by the Board of Meteoric Resources NL.
For further information, please contact:
Mr Nick Holthouse Tim Fogarty Chief Executive Officer Media Liaison Meteoric Resources NL The Civic Partnership E [email protected] E [email protected] T +61 428 964 276 T + 61 3 9620 9300
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Meteoric Resources NL Meteoric Resources NL ABN 64 107 985 651ABN 64 107 985 651 Level 1, 35 Ventnor Avenue, West Perth WA 6005Level 1, 35 Ventnor Avenue, West Perth WA 6005 www.meteoric.com.au www.meteoric.com.au | | Page 15 of 33Page 15 of 33
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Appendix 1: JORC Table 1
Section 1 Sampling Techniques and Data (Criteria in this section apply to all succeeding sections.)
| Criteria | Commentary | ||
|---|---|---|---|
| Sampling | • | The resource was sampled using: a powered auger drill machine (open hole), a diamond drill machine | |
| techniques | • | and an Aircore drill machine. Auger drill holes |
|
o |
Each drill site was cleaned, removing leaves and roots from the surface. Tarps were placed on either | ||
| side of the hole and samples of soil and saprolite where collected every 1m of advance, logged, | |||
| photographed with subsequent bagging of the sample in plastic bags. | |||
| • | Diamond drill holes | ||
o |
The intact drill cores are collected in plastic core trays with depth markers recording the depth at the | ||
| end of each drill run (blocks). | |||
o |
Samples were collected at 1m intervals. In the saprolite zone the core is halved with a metal spatula | ||
| and bagged in plastic bags, the fresh rock was halved by a powered saw and bagged. | |||
| • | Aircore drill holes | ||
o |
Two (2) metre composite samples are collected from the cyclone of the rig in plastic buckets. The | ||
| material from the plastic buckets is passed through a single tier, riffle splitter which generates a 50/50 | |||
| split. One half is bagged and numbered for submission to the laboratory, and the other half bagged | |||
| and given the same number, then stored as a duplicate at the core facility in Pocos de Caldas. | |||
| Drilling | • | Powered Auger | |
| techniques | o |
Powered auger drilling employed a motorised post hole digger with a 4 inch diameter. All holes were drilled vertical. The maximum depth achievable was 20m, providing the hole did not encounter |
|
| fragments of rocks/boulders within the weathered profile and/or excessive water. Final depths were | |||
| recorded according to the length of rods in the hole. | |||
| • | Diamond Core | ||
o |
Diamond drilling employed a conventional wireline diamond drill rig (Mach 1200). All holes were | ||
| drilled vertical using PQ diameter core through soils and clays (85mm core diameter), reducing to | |||
| HQ through transition material and fresh rock (63.5mm core diameter). The maximum depth drilled | |||
| was 48.1m. The final depth was recorded using the length of the rods in the hole. | |||
| • | Aircore | ||
o |
Drilling was completed using a HANJIN 8D Multipurpose Track Mounted Drill Rig, configured to drill | ||
| 3-inch Aircore holes. The rig is supported by an Atlas Copco XRHS800 compressor which supplies | |||
| sufficient air to keep the sample dry down to the current deepest depth of 73m. All holes are drilled | |||
| vertical. | |||
o |
Most drill sites require minimal to no site preparation. On particularly steep sites, the area is levelled | ||
| with a backhoe loader. | |||
o |
Drilling is stopped at 'blade refusal' when the rotating bit is unable to cut the ground any further. This | ||
| generally occurs in the transition zones (below clay zone and above fresh rock). On occasions a face | |||
| sampling hammer is used once 'blade refusal' is reached to penetrate through the remaining | |||
| transition zone and into the fresh rock. | |||
| Drill sample | • | Auger sample recovery | |
| recovery | o |
Estimated visually based on the amount of sample recovered per 1m interval drilled. Recoveries were generally in a range from 75% - 100%. If estimates dropped below 75% recovery in a 1m |
|
| interval, the field crew aborted the drill hole and redrilled the hole. | |||
| • | Diamond drill hole recovery | ||
o |
Calculated after each run, comparing length of core recovery vs. drill depth. Overall core recoveries | ||
| are 92.5%, achieving 95% in the saprolite target horizon, 89% in the transition zone and 92.5% in | |||
| fresh rock. | |||
| • | Aircore recovery | ||
o |
Every 2m composite sample is collected in plastic buckets and weighed. Each sample averages | ||
| approximately 12kg. This is considered acceptable given the hole diameter and specific density of | |||
| the material. | |||
| Logging | • | Auger drilling, | |
o |
Material is described in a drilling bulletin every 1m and photographed. The description is made | ||
| according to the tactile-visual characteristics, such as material (soil, colluvium, saprolite, rock | |||
| fragments); material color; predominant particle size; presence of moisture; indicator minerals; extra | |||
| observations. |
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Meteoric Resources NL Meteoric Resources NL ABN 64 107 985 651ABN 64 107 985 651 Level 1, 35 Ventnor Avenue, West Perth WA 6005Level 1, 35 Ventnor Avenue, West Perth WA 6005 www.meteoric.com.au www.meteoric.com.au | | Page 16 of 33Page 16 of 33
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| Criteria | Commentary | ||
|---|---|---|---|
| • | Diamond drilling | ||
o |
Geology description is made in a core facility, focused on the soil (humic) horizon, saprolite, transition | ||
| zone and fresh rock boundaries. The geology depth is honored and described with downhole depth | |||
| (not metre by metre). Parameters logged include: grainsize, texture and colour, which can help to | |||
| identify the parent rock before weathering. | |||
o |
All drill holes are photographed and stored at Core facility in Pocos de Caldas. | ||
| • | Aircore drilling | ||
o |
The material is logged at the drill rig by a geologist. Logging focused on soil (humic) horizon, | ||
| saprolite/clay zones and transition boundaries. Other parameters recorded includes: grainsize, | |||
| texture and colour, which can help to identify the parent rock before weathering. | |||
o |
Logging is done on 2m intervals due to the nature of the drilling with 2m composite samples collected | ||
| in a bucket and presented for sampling and logging. | |||
o |
The chip trays of all drilled holes have a digital photographic record and are retained at a Core facility | ||
| in Pocos de Caldas. | |||
| Sub- | • | Auger material | |
| sampling | o |
Samples are weighed and if the samples are wet, they are dried for several days on rubber mats. After drying the samples are screened (5mm). Homogenization occurs by agitation in bags, followed |
|
| techniques | by screening to <3mm. Fragments of rock or hardened clay that are retained in the sieves are | ||
| and sample | fragmented with a 10kg manual disintegrator and a 1kg hammer, until 100% of the sample passes through the screening. The sample is homogenized again by agitation in bags. Finally, the sample is |
||
| preparation | Split in a Jones 12 channel splitter, where 500g is sent to the lab (SGS_geosol laboratory in | ||
| Vespasiano – Minas Gerais). | |||
o |
Remaining samples are placed in 20-liter plastic buckets, clearly labelled by Hole ID and depth, and | ||
| stored in shed facility in Pocos de Caldas. | |||
| • | Diamond cores | ||
o |
In the saprolite zone the core is halved with a metal spatula and bagged in plastic bags | ||
o |
The fresh rock was halved by a powered saw and bagged into a plastic bag with a unique sequential | ||
| number of samples and sent to ALS laboratory in Vespasiano – Minas Gerais. | |||
o |
Field duplicates consist of quarter core, with both quarters sent to the lab. | ||
| • | Aircore material | ||
o |
Samples are weighed at the Rig. When the sample > 6kg it passes through a single tier Riffle splitter | ||
| generating a 50/50 split, one for ALS Laboratory and a duplicate which is retained in core facility. | |||
| Samples are bagged in plastic bags with unique tag for the interval. | |||
o |
Given the grainsize if the mineralisation is extremely fine (clays) and shows little variability, the | ||
| practice of submitting 50% of original sample for analysis is deemed appropriate. | |||
o |
Field Duplicates are routinely submitted and results analysed by examining the correlation between | ||
| original and duplicate samples. More than 90% of duplicates show <20% variance. | |||
| Quality of | • | Auger sampleswere analysed at SGS Geosol laboratory in batches of 43 samples, 37 of which belong to | |
| assay data | exploration intervals and 6 are QA/QC samples (duplicate, blank and standards).oThe sample preparation method employed was PRP102_E: the samples are dried at 100°C, crushed |
||
| and | to 75% less than 3 mm, homogenized and passed through a Jones riffle splitter (250g to 300g). This | ||
| laboratory | aliquot was then pulverized in a steel mill to the point at which over 95% had a size of 150 microns. | ||
| tests | |||
o |
Analysis followed by IMS95A to determine the Rare Earth Elements. With this method, samples are | ||
| melted with lithium metaborate and read using the ICP-MS method, the limits or which are shown | |||
| below. | |||
| • | Diamond and Aircoresamples are analysed by ALS Laboratories (accredited) in Batches up to 72 | ||
| samples. Upon arriving at ALS Vespasiano samples receive additional preparation (drying, crushing, | |||
| splitting, and pulverising): | |||
odried at 60°C |
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Meteoric Resources NL Meteoric Resources NL ABN 64 107 985 651ABN 64 107 985 651 Level 1, 35 Ventnor Avenue, West Perth WA 6005Level 1, 35 Ventnor Avenue, West Perth WA 6005 www.meteoric.com.au www.meteoric.com.au | | Page 17 of 33Page 17 of 33
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| Criteria | Commentary |
|---|---|
othe fresh rock is crushed to sub 2mm othe saprolite is disaggregated with hammers oRiffle split 800g sub-sample o800 g pulverized to 90% passing 75um, monitored by sieving. oAliquot selection from pulp packet The aliquot obtained from the physical preparation process at Vespasiano is sent to ALS Lima or analysis by ME-MS81 – which consists of analysis of Rare Earths and Trace Elements by ICP-MS for 32 elements by fusion with lithium borate as seen below (with detection limits): Code Analytes & Ranges(ppm) ME-MS81 Ba 0.5 - 10000 Gd 0.05 - 1000 Rb 0.2 - 10000 Ti 0.01 - 10% Ce 0.1 - 10000 Hf 0.5 - 10000 Sc 0.5 - 500 Tm 0.01 - 1000 Cr 5 - 10000 Ho 0.01 - 10000 Sm 0.03 - 1000 U 0.05 - 1000 Cs 0.01 - 10000 La 0.1 - 10000 Sn 0.5 - 10000 V 5 - 10000 Dy 0.05 - 1000 Lu 0.01 - 10000 Sr 0.1 - 10000 W 0.5 - 10000 Er 0.03 - 1000 Nb 0.05 - 2500 Ta 0.1 - 2500 Y 0.1 - 10000 Eu 0.02 - 1000 Nd 0.1 - 10000 Tb 0.01 - 1000 Yb 0.03 - 1000 Ga 0.1 - 10000 Pr 0.02 - 10000 Th 0.05 - 1000 Zr 1 - 10000 • MEI QAQC protocols demand duplicate sample every 20 samples, and a blank and standard sample in each 30 samples. In addition, ALS inserted their own internal reference check samples as well as conducting repeat analysis. Results show: 94.94% of Standards are within tolerance limits, 99.96% of Blanks are within tolerance limits, and only 4.92% of Duplicate samples showed >30% variation for the Original result. |
|
| Verification of sampling and assaying |
• Given the nature of the ionic clay mineralisation visual checks are not appropriate for verification of mineralised intercepts. • MEI completed several rounds of Twin Hole drilling:- oDD drill holes twinning historic Auger holes oA total of 32 DD holes were drilled to twin historic Auger holes and confirm the reported widths and grades across the 6 resource areas (February 2023 - January 2024). Results confirmed the width and general nature of high-grade TREO mineralization, showing a slight (14%) Positive Bias in Auger results compared to DD results. The apparent Bias is not considered significant. oAC holes twinning existing DD holes oA total of 17 AC holes were drilled at Soberbo, Capão do Mel and Figueira deposits to twin existing DD drill holes and assess AC as a sampling method (March 2023 – March 2024). Results confirmed the width and general nature of high-grade TREO mineralization, showing a slight (20%) Negative Bias in AC results compared to DD results. The apparent Bias is not considered significant. • For historic Auger holes, collar co-ordinates are recorded, and holes were logged and photographed at the drill site prior to information being transferred into Excel Spreadsheets back at the office. Drilling data is kept in Excel Spreadsheets in a well organised structure of file folders on a local network and in the ‘Cloud’. The original paper logging sheets were not retained. • For all drilling conducted by MEI (DD and AC), data is recorded into MX Deposit tables (collar, survey, geology, sample) using tablets/laptops at the Aircore Rig or in the Core Shed. Files are forwarded via email by Geologists to Database manager for uploading into the Database. The data is stored in MX Deposit database (Sequent). Data validation is turned ON during the import of data avoiding errors. • Raw assays are received as Elemental data (ppm) from ALS laboratories. The Elemental data is converted to Element Oxide data using the following conversion factors: |
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Meteoric Resources NL Meteoric Resources NL ABN 64 107 985 651ABN 64 107 985 651 Level 1, 35 Ventnor Avenue, West Perth WA 6005Level 1, 35 Ventnor Avenue, West Perth WA 6005 www.meteoric.com.au www.meteoric.com.au | | Page 18 of 33Page 18 of 33
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| Criteria | Commentary | ||
|---|---|---|---|
| Location of | • | Auger drill collars | |
| data points | oAll holes were picked up by Nortear Topografia e Projectos Ltda., planialtimetric topographic surveyors. The GPS South Galaxy G1 RTK GNSS was used, capable of carrying out data surveys |
||
| and kinematic locations in real time (RTK-Real Time Kinematic), consisting of two GNSS receivers, a | |||
| BASE and a ROVER. The horizontal accuracy, in RTK, is 8mm + 1ppm, and vertical 15mm + 1ppm. | |||
oThe coordinates were provided in the following formats: Sirgas 2000 datum, and UTM WGS 84 datum |
|||
| - georeferenced to spindle 23S. | |||
| • | Diamond and Aircore collars | ||
oThe survey was made by MEI personal using a GPS CHCNAV i73 RTK GNSS capable of carrying |
|||
| out data surveys and kinematic locations in real time (RTK-Real Time Kinematic), consisting of two | |||
| GNSS receivers, a BASE and a ROVER. The horizontal accuracy, in RTK, is 8mm +/- 1mm, and | |||
| vertical 15mm +/- 1mm. | |||
| • | Topography imaging survey | ||
oA detailed imaging and topographic survey was done by GeoSense Engenharia e Geotecnologia Ltda. |
|||
| The survey was done using a DJI Matrice 300 RTK drone with vertical accuracy with 0.1metre and | |||
| horizontal accuracy of 0.3metre using visual system. Using the GPS system the vertical accuracy is | |||
| 0.5metre and horizontal accuracy is 1.5metre. Using the RTK system the vertical accuracy is 0.1metre | |||
| and horizontal accuracy is 0.1metre. | |||
oA on board LiDAR Alpha |
Air 450 sensor was used which has a range of 450 metres, accuracy of | ||
| 15mm, acquisition tax of 240,000 points per second (first pass), 480,000 points per second (second | |||
| pass) and 720,000 points | per second (third pass), equipped with a Sony A5100 camera with 26 Mega | ||
| Pixels and an integrated GNSS receptor (L1L2). | |||
oFor the base points it was |
used a GPS CHCNAV i73 RTK GNSS capable of carrying out data surveys | ||
| and kinematic locations in real time (RTK-Real Time Kinematic), consisting of two GNSS receivers, a | |||
| BASE and a ROVER. The horizontal accuracy, in RTK, is 8mm +/- 1mm, and vertical 15mm +/- 1mm. | |||
| Data spacing | • |
Hole spacing for Auger holes varies across the prospect scale from a maximum of: 200m by 200m, infill | |
| and | drilled to 100m by 100m, with tighter spacing of 50m by 50m in the closest space areas. Aircore drilling was done at 100m x 100m. Diamond holes had no regular spacing but were designed to target specific |
||
| distribution | geologic characteristics (i.e. grade, density). | ||
| • | Given the substantial geographic extent and generally shallow, flat lying geometry of the mineralisation, | ||
| the spacing and orientation are considered sufficient to establish geologic and grade continuity. | |||
| • | Sample compositing: |
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Meteoric Resources NL Meteoric Resources NL ABN 64 107 985 651ABN 64 107 985 651 Level 1, 35 Ventnor Avenue, West Perth WA 6005Level 1, 35 Ventnor Avenue, West Perth WA 6005 www.meteoric.com.au www.meteoric.com.au | | Page 19 of 33Page 19 of 33
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| Criteria | Commentary | |
|---|---|---|
oAuger samples were collected at 1.0m composites. |
||
oDiamond samples were collected at 1.00m composites, respecting the geological contacts. |
||
oAircore samples were collected at 2.00m composites. |
||
| Orientation | • | The mineralisation is flat lying and occurs within the saprolite/clay zone of a deeply developed regolith |
| of data in | (reflecting topography and weathering). Vertical sampling from all sampling methods is considered most appropriate. |
|
| relation to | ||
| geological | ||
| structure | ||
| Sample | • | Auger samples: |
| security | oSamples were removed from the field by Company staff and transported back to a facility in Poços de Caldas. From here the samples are packed in plastic bags and transported to SGS-Geosol in Belo |
|
| by a commercial Transport Company. | ||
oThe remaining sample is stored in 20 litre plastic buckets, labelled with the name of the target, hole |
||
| name and sampled intervals. Samples are securely locked up in the storage shed. | ||
| • | Diamond samples: | |
oSamples are removed from the field by MEI staff and transported back to a Core shad to be logged |
||
| and sampled. All samples for submission to the lab are packed in plastic bags (in batches) and sent | ||
| to the lab where it is processed as reported above. The transport of samples from Poços de Caldas | ||
| to ALS laboratory in Vespasiano was undertaken by a commercial Transport Company. | ||
| • | Aircore samples: | |
oSamples are split and bagged in the field and transported back to a Core shed. All samples for |
||
| submission to the lab are packed in plastic bags (in batches) and despatched to ALS laboratory in | ||
| Vespasiano using a commercial Transport Company. | ||
| Audits or | • | MEI conducted a review of assay results as part of its Due Diligence prior to acquiring the project. |
| reviews | Approximately 5% of all stored coarse rejects from auger drilling were resampled and submitted to two (2) labs: SGS Geosol and ALS Laboratories. Results verified the existing assay results, returning values +/- |
|
| 10% of the original grades, well within margins of error for the grade of mineralisation reported. (see | ||
| ASX:MEI 13/03/23 for a more detailed discussion) | ||
| • | A site visit was carried out by Volodymyr Myadzel from BNA Mining Solutions on 19-20 February 2024 to: | |
| inspect drilling and sampling procedures, verify survey methods, inspect the storage shed, verification of | ||
| geological records, review of QAQC procedures and review of geologic model. |
Section 2 Reporting of Exploration Results (Criteria in this section apply to all succeeding sections.)
| Criteria | Commentary | |
|---|---|---|
| Mineral tenement | • | Listed in Appendix 3. |
| and land tenure | • | Given the rich history of mining and current mining activity in the Poços de Caldas there appears to be no impediments to obtaining a License to operate in the area. |
| status | ||
| Exploration done by | • | The Caldeira Project has had significant exploration in the form of surface geochem across 30 |
| other parties | granted mining concessions, plus: geologic mapping, topographic surveys, and powered auger (1,396 holes for 12,963 samples). |
|
| • | MEI performed Due Diligence on historic exploration and are satisfied the data is accurate and | |
| correct (refer ASX Release 13 March 2023 for a discussion). | ||
| Geology | • | The Alkaline Complex of Poços de Caldas represents in Brazil one of the most important |
| geological terrains which hosts deposits of bauxite, clay, uranium, zirconium, rare earths and | ||
| leucite. The different types of mineralization are products of a history of post-magmatic alteration | ||
| and weathering, in the last stages of its evolution (Schorscher & Shea, 1992; Ulbrich et al., 2005). | ||
| • | The dominant REE mineral in the source rock (syenite) beneath the clay zone is Bastnaesite, a | |
| major source of REE worldwide. Bastnaesite is a REE carbonate-fluoride mineral (REE)CO3F | ||
| and has very low levels of U and Th in its structure. Due to the chemistry of the underling intrusives |
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Meteoric Resources NL Meteoric Resources NL ABN 64 107 985 651ABN 64 107 985 651 Level 1, 35 Ventnor Avenue, West Perth WA 6005Level 1, 35 Ventnor Avenue, West Perth WA 6005 www.meteoric.com.au www.meteoric.com.au | | Page 20 of 33Page 20 of 33
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| Criteria | Commentary | |
|---|---|---|
| and the intense weathering of the region, a thick profile comprising soil, clay and saprolite | ||
| (regolith) has formed (Figures 3-5), and these are the hosts to the ionic clay REE mineralization. | ||
| Drill hole Information | • | Information for all Auger holes was reported in a previous ASX Release on 01 May 2023 “Caldeira |
| REE Project Maiden Mineral Resource”. Drill hole information for all Aircore & Diamond Core | ||
| holes is presented in Appendix 2. | ||
| Data aggregation | • | Mineralised Intercepts are reported with a minimum of 4m width, lower cut-off 1,000ppm TREO, |
| methods | • | with a maximum of 2m internal dilution. High-Grade Intercepts reported as “including” are reported with a minimum of 2m width, lower |
| cut-off 3,000 ppm TREO, with a maximum of 1m internal dilution. | ||
| • | Extreme High-Grade Intercepts reported as “with” are reported with a minimum of 2m width, lower | |
| cut-off 10,000 ppm TREO, with a maximum of 1m internal dilution. | ||
| • | No Metal Equivalents are used. | |
| Mineralisation widths | • |
All holes are vertical and mineralisation is developed in a flat lying clay and transition zone within |
| and intercept lengths | the regolith. As such, reported widths are considered to equal true widths. | |
| Diagrams | • | Reported in the body of the text. |
| Balanced reporting | • | Significant Intercepts for all Auger drill holes were reported in a previous ASX Release on 01 May |
| 2023 “Caldeira REE Project Maiden Mineral Resource”. | ||
| • | Significant Intercepts for Aircore drill holes SBBAC0001-SBBAC0277 were reported in a previous | |
| ASX Release on 14 December 2023 “High-Grade REEs Extend Beneath Soberbo Resource, | ||
| Caldeira Project”. | ||
| Other substantive | • | Metallurgical work was carried out on samples split from a 200kg composite sample, which in |
| exploration data | turn was composed of a selection of 184 samples from 41 holes (100 x100m grid) across the Capo do Mel Target. Head grade of the composite sample was 4,917ppm TREO. Results |
|
| showed excellent recoveries by desorption of Rare Earth Elements (REE) using ammonium | ||
| sulphate solution [(NH4)2SO4)] in weakly acidic conditions [pH 4]. Average recovery of the low | ||
| temperature magnet REE Pr + Nd was 58%. desorption was achieved using a standard | ||
| ammonium sulphate solution at pH 4 and confirms the Caldeira Project is an Ionic (Adsorption) | ||
| Clay REE deposit (for further discussion refer ASX Release 20 December 2023). | ||
| • | A maiden Inferred resource was published to the ASX on May 1st 2023. | |
| Further work | • | Proposed work is discussed in the body of the text. |
Section 3 Estimation & Reporting of Mineral Resources (Criteria in this section apply to all succeeding sections.)
| Criteria | Commentary | ||
|---|---|---|---|
| Database integrity | • | All | data was imported into Micromine Software. The database was validated using specific |
| processes to verify the existence of the errors listed below: | |||
o |
The drill hole’s name is present in the collar file but is missing from the analytical database; | ||
o |
The drill hole’s name is present in the analytical database, but is absent in the collar file; | ||
o |
The drill hole’s name appears repeated in the analytical database and in the collar file; | ||
o |
The drill hole’s name does not appear in the collar file and in the analytical database; | ||
o |
One or more coordinate notes are absent from the collar file; | ||
o |
FROM or TO are not present in the analytical database; | ||
o |
FROM > TO in the analytical database; | ||
o |
Sampling intervals are not continuous in the analytical database (there are gaps between | ||
| the logs); | |||
o |
Sampling intervals overlap in the analytical database; | ||
o |
The first sample does not correspond to 0 m in the analytical database; | ||
o |
The hole total depth is shallower than the depth of the last sample. | ||
| • | Random checks of the original data as received from SGS-Geosol and ALS laboratories was | ||
| compared with the provided database and no errors were found. | |||
| Site visits | • | A site visit was carried out by Volodymyr Myadzel from BNA Mining Solutions on 19-20 February | |
| 2024 to: inspect drilling and sampling procedures, verify survey methods, inspect the storage | |||
| shed, verification of geological records, review of QAQC procedures and review of geologic |
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Meteoric Resources NL Meteoric Resources NL ABN 64 107 985 651ABN 64 107 985 651 Level 1, 35 Ventnor Avenue, West Perth WA 6005Level 1, 35 Ventnor Avenue, West Perth WA 6005 www.meteoric.com.au www.meteoric.com.au | | Page 21 of 33Page 21 of 33
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| Criteria | Commentary | Commentary | Commentary | Commentary |
|---|---|---|---|---|
| model. | ||||
| Geological interpretation |
• The resource estimation is based on historical Auger data an additional 3,133m of infill Diamond and Aircore drilling. Confidence in the geological interpretation of the rare earth mineralization in clay and saprolite is very high as drilling activities used a regular and relatively close-spaced drill spacing. • Where there is no information from Diamond or Aircore drill holes (which drill to transition/fresh rock), and mineralisation was present at the end of Auger drill holes (in areas of known deep weathering), the mineralisation was assumed to extend 2m below the hole. This is prevalent in the APA area. • Factors affecting rare earth mineralisation in saprolite rocks include the degree of weathering of primary rocks and variations in mineralization. These were detailed in Diamond, Aircore, and Auger drilling from surface and into the fresh rock. |
|||
| Dimensions | • The Mineral Resource is spread across 2,600m x 3,800m in NE-SW direction. • The top of the rare earth element mineralization is the topographic surface. |
|||
| Estimation and modelling techniques |
• The results are based on a block model interpolated by Ordinary Kriging (OK) method, using Micromine software. Ordinary Kriging was selected as the method for grade interpolation as the sample data has a log-normal distribution represented by a single generation. • All analyzed elements were interpolated to the empty block model using Ordinary Kriging (OK) and IDW3 (Inverse Distance Weighting with inverse power 3) methods. The IDW3 method was used for control and comparison. • The grade estimation was performed in four consecutive passes (rounds) using different sizes of search radius, criteria of number of composite samples, and number of holes. Search Ellipse parameters by Pass. Pass Search Ellipse (size factor) Min. No. Composites Max. No. Composites Min. No. Drill Holes 01 0.667 4 3 2 02 1 2 3 2 03 2 2 3 1 04 100 1 3 1 • Column ‘Min No. Composites’ is the minimum number of composites required for each of the estimation passes. Column ‘Max No. Composites’ is the maximum number of samples allowed for each of the four sectors of the ellipsoid used for the elements’ estimation process. • The Block Model created in the process of discretization of the wireframes using the sub- blocking process. Initially, the model was filled with blocks measuring 25 (X) by 25 (Y) by 5 (Z) meters, which were divided into subunits of smaller size, with a factor for size subdivision of 10 by 10 by 5 in contact with the surrounding three-dimensional wireframes. • The radii and the orientation of search ellipse were determined using standard variograms. The limitations presented by each sector of a search ellipse were: the maximum number of points in the sector and the minimum total number of points in the interpolation that varies depending on the size of the ellipse, from 3 to 1. Thus, the maximum total number of samples involved in the interpolation was 12 samples. Radiiof Search Ellipsoid by element. Element Soberbo X Y Z La (ppm) 130 90 15 Ce (ppm) 130 90 15 Pr (ppm) 130 90 15 Nd (ppm) 130 90 15 Sm (ppm) 130 90 15 Eu (ppm) 130 90 15 |
|||
| Element | Soberbo | |||
| X | Y | Z | ||
| La (ppm) | 130 | 90 | 15 | |
| Ce (ppm) | 130 | 90 | 15 | |
| Pr (ppm) | 130 | 90 | 15 | |
| Nd (ppm) | 130 | 90 | 15 | |
| Sm (ppm) | 130 |
90 | 15 | |
| Eu (ppm) | 130 | 90 | 15 |
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Meteoric Resources NL Meteoric Resources NL ABN 64 107 985 651ABN 64 107 985 651 Level 1, 35 Ventnor Avenue, West Perth WA 6005Level 1, 35 Ventnor Avenue, West Perth WA 6005 www.meteoric.com.au www.meteoric.com.au | | Page 22 of 33Page 22 of 33
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| Criteria | Commentary | |||
|---|---|---|---|---|
| Gd (ppm) | 130 | 90 | 15 | |
| Tb (ppm) | 130 | 90 | 15 | |
| Dy (ppm) | 130 | 90 | 15 | |
| Ho (ppm) | 130 | 90 | 15 | |
| Er (ppm) | 130 | 90 | 15 | |
| Tm (ppm) | 130 | 90 | 15 | |
| Yb (ppm) | 130 | 90 | 15 | |
| Lu (ppm) | 130 | 90 | 15 | |
| Y (ppm) | 130 | 90 | 15 | |
| Th (ppm) | 125 | 85 | 10 | |
| U (ppm) | 125 | 85 | 10 | |
| Moisture | • All estimations are reported as a dry tonnage. |
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Meteoric Resources NL Meteoric Resources NL ABN 64 107 985 651ABN 64 107 985 651 Level 1, 35 Ventnor Avenue, West Perth WA 6005Level 1, 35 Ventnor Avenue, West Perth WA 6005 www.meteoric.com.au www.meteoric.com.au | | Page 23 of 33Page 23 of 33
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| Criteria | Commentary |
|---|---|
| Cut-off parameters | • Cut-off grades for TREO were used to prepare the reported resource estimates. The selection |
| of the cut-off was based on the experience of the Competent Person, plus a peer review of | |
| publicly available information from more advanced projects with comparable mineralisation | |
| styles (i.e clay and transition zone hosted rare earth mineralisation) and comparable | |
| conceptual processing methods. | |
| • The chosen cut-off grade of 1,000 ppm TREO is consistent with this. |
|
| Mining factors or | • No specific mining method is assumed other than potentially the use of open pit mining methods. |
| assumptions | |
| Metallurgical factors or | • Auger historic metallurgy data has been completed and reported to ASX:MEI 20/12/2023. |
| assumptions | • Head grade of the composite sample for testwork collected from 44 holes, over 140 samples (200 kg) was 4,917ppm TREO including 25.5% Magnet REE. |
| • Initial metallurgical testwork showed excellent recoveries by desorption of Rare Earth Elements |
|
| (REE) by using ammonium sulphate solution [(NH4)2SO4)] in weakly acidic conditions [pH 4] | |
| • Average recovery of the low temperature magnet REE Pr + Nd was 58% |
|
| • Average recovery of high temperature magnet REE, Tb +Dy was 43%. |
|
| • The results show that excellent REE desorption was achieved using a standard ammonium |
|
| sulphate solution at pH 4 and crucially confirms that the high-grade Caldeira Project is an Ionic | |
| (Adsorption) Clay REE deposit | |
| Environmental factors | There are two Environmental areas within the municipality of Caldas which encroach upon the |
| or assumptions | current resources at Soberbo and Capao do Mel deposits, being:- (i) Environmental Protection Area (“APA”) Ecological Sanctuary of Serra da Pedra Branca |
| (established by Municipal Law of Caldas/MG nº 1.973/2006) and | |
| (ii) a three (3) kilometre strip surrounding the APA (“Buffer Zone”). | |
| Part of the Soberbo resource is within the APA whilst the remaining (larger) part of Soberbo | |
| resource and the entire Capão do Mel resource are within the Buffer Zone. | |
| Article 51 of Law of Caldas/MG nº 1.973/2006 stipulates that mining activity is currently not | |
| permitted within the APA (other than for existing activity with operating licenses). Importantly, for | |
| Meteoric’s current program no infill drilling has been performed inside the APA, nor are there current | |
| plans to conduct any exploration activities inside the APA. Additionally, the ‘Base Case’ | |
| development scenario contemplated in MEI’s current Scoping Study and Preliminary Environmental | |
| Permit (LP) application do not propose any activity inside the APA area. | |
| Mining activity within the Buffer Zone is permitted and may be undertaken upon completion of an | |
| Environmental Impact Assessment, a proposal of measures necessary to mitigate any possible | |
| impact on ecosystems, and seeking authorization from the municipality of Caldas and the APA | |
| Management Council. | |
| Meteoric has conducted extensive research and consultation from mid-2023 with the object of | |
| seeking and obtaining permission to conduct activities in the Buffer Zone and is confident of | |
| obtaining favourable consideration from the relevant authorities. That confidence is based upon: | |
| Environmental Impact Statement (EIS) and relevant flora and fauna and ethnographic studies | |
| completed over the area, ongoing dialogue and consultation with multiple stakeholders including | |
| favourable feedback from a Social Diagnosis and Stakeholder Survey of the Caldeira REE Project | |
| conducted by EcoDue Ambiental in December 2023, and specifically by reason of the terms of a | |
| written Protocol of Intent entered into between the Government of Minas Gerais and Meteoric Brazil | |
| [See ASX Announcement “Cooperation Agreement Signed with Government of Minas Gerais and | |
| Invest Minas” - 11 August 2023]. | |
| As such we consider there are reasonable prospects for eventual economic extraction to justify the | |
| Mineral Classifications of Indicated (within the Buffer Zone) and Inferred (within the APA). | |
| Bulk density | • Diamond drill samples were selected to get the specific gravity, these samples were not cut in |
| the middle as a normal sample. The sample was sent to ALS lab and was submitted to an | |
| industrial specific gravity method (OA-GRA09a, bulk density paraphing coating). | |
| Classification | • The Mineral Resources for the project have been classified as Indicated and Inferred. |
| • The Competent Person is satisfied that the classification is appropriate based on: current drill |
|
| hole spacing, geological continuity, variography, and bulk density data available for the project. |
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Meteoric Resources NL Meteoric Resources NL ABN 64 107 985 651ABN 64 107 985 651 Level 1, 35 Ventnor Avenue, West Perth WA 6005Level 1, 35 Ventnor Avenue, West Perth WA 6005 www.meteoric.com.au www.meteoric.com.au | | Page 24 of 33Page 24 of 33
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| Criteria | Commentary | |
|---|---|---|
| Audits or reviews | • | As yet there have been no third-party audits or reviews of the mineral resource estimates. |
| Discussion of relative | • | The block model with interpolated grades was subject to visual and statistical verification. |
| accuracy/ confidence | Histograms and probability graphs of the interpolated grades were built. Then, the interpolated grades of the block model were compared with the same histograms and probability graphs of |
|
| the composite samples. The histograms and graphs of the interpolated grades and composite | ||
| samples were similar, and the block model histograms were smoother than the composite | ||
| histograms. The comparisons confirmed the validity and consistency of the built block model. | ||
| • | The mineral resource is a global resource estimate and locally resource estimates may vary in | |
| a negative or positive manner. |
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Meteoric Resources NL Meteoric Resources NL ABN 64 107 985 651ABN 64 107 985 651 Level 1, 35 Ventnor Avenue, West Perth WA 6005Level 1, 35 Ventnor Avenue, West Perth WA 6005 www.meteoric.com.au www.meteoric.com.au | | Page 25 of 33Page 25 of 33
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Appendix 2: Soberbo ML - Drill Hole Coordinates
| Hole ID | **Drill Type ** | East | North | Elevation | Depth | Dip | Azimuth |
|---|---|---|---|---|---|---|---|
| SBBAC0001 | Air Core | 350,090 | 7,571,312 | 1,239 | 24.5 | 90 | 360 |
| SBBAC0002 | Air Core | 350,164 | 7,571,308 | 1,251 | 3.0 | 90 | 360 |
| SBBAC0003 | Air Core | 350,098 | 7,571,204 | 1,240 | 17.0 | 90 | 360 |
| SBBAC0004 | Air Core | 350,189 | 7,571,206 | 1,259 | 3.0 | 90 | 360 |
| SBBAC0005 | Air Core | 349,995 | 7,571,105 | 1,244 | 13.0 | 90 | 360 |
| SBBAC0006 | Air Core | 349,905 | 7,571,204 | 1,223 | 5.5 | 90 | 360 |
| SBBAC0007 | Air Core | 349,790 | 7,571,294 | 1,203 | 5.0 | 90 | 360 |
| SBBAC0008 | Air Core | 349,919 | 7,571,060 | 1,235 | 24.5 | 90 | 360 |
| SBBAC0009 | Air Core | 349,903 | 7,571,092 | 1,234 | 20.0 | 90 | 360 |
| SBBAC0010 | Air Core | 350,093 | 7,571,007 | 1,254 | 14.3 | 90 | 360 |
| SBBAC0011 | Air Core | 349,984 | 7,570,999 | 1,242 | 8.0 | 90 | 360 |
| SBBAC0012 | Air Core | 350,086 | 7,570,917 | 1,259 | 14.3 | 90 | 360 |
| SBBAC0013 | Air Core | 349,997 | 7,570,914 | 1,248 | 17.0 | 90 | 360 |
| SBBAC0014 | Air Core | 349,977 | 7,570,802 | 1,267 | 31.0 | 90 | 360 |
| SBBAC0015 | Air Core | 349,896 | 7,570,906 | 1,249 | 17.0 | 90 | 360 |
| SBBAC0016 | Air Core | 349,887 | 7,570,794 | 1,254 | 14.5 | 90 | 360 |
| SBBAC0017 | Air Core | 349,933 | 7,570,772 | 1,262 | 28.0 | 90 | 360 |
| SBBAC0018 | Air Core | 348,893 | 7,569,420 | 1,298 | 26.0 | 90 | 360 |
| SBBAC0019 | Air Core | 348,887 | 7,569,310 | 1,296 | 21.0 | 90 | 360 |
| SBBAC0020 | Air Core | 348,797 | 7,569,424 | 1,291 | 18.0 | 90 | 360 |
| SBBAC0021 | Air Core | 348,888 | 7,569,497 | 1,306 | 20.0 | 90 | 360 |
| SBBAC0022 | Air Core | 348,788 | 7,569,215 | 1,308 | 23.0 | 90 | 360 |
| SBBAC0023 | Air Core | 348,697 | 7,569,206 | 1,314 | 10.0 | 90 | 360 |
| SBBAC0024 | Air Core | 348,688 | 7,569,114 | 1,325 | 10.5 | 90 | 360 |
| SBBAC0025 | Air Core | 348,980 | 7,569,616 | 1,300 | 18.0 | 90 | 360 |
| SBBAC0026 | Air Core | 348,871 | 7,569,699 | 1,273 | 25.0 | 90 | 360 |
| SBBAC0027 | Air Core | 348,795 | 7,569,716 | 1,268 | 12.0 | 90 | 360 |
| SBBAC0028 | Air Core | 348,804 | 7,569,606 | 1,291 | 35.0 | 90 | 360 |
| SBBAC0029 | Air Core | 348,686 | 7,569,721 | 1,273 | 0.1 | 90 | 360 |
| SBBAC0030 | Air Core | 348,710 | 7,569,597 | 1,275 | 15.0 | 90 | 360 |
| SBBAC0031 | Air Core | 348,992 | 7,569,720 | 1,297 | 5.5 | 90 | 360 |
| SBBAC0032 | Air Core | 349,011 | 7,569,839 | 1,305 | 18.8 | 90 | 360 |
| SBBAC0033 | Air Core | 348,898 | 7,569,841 | 1,291 | 1.0 | 90 | 360 |
| SBBAC0034 | Air Core | 348,895 | 7,569,907 | 1,286 | 9.0 | 90 | 360 |
| SBBAC0035 | Air Core | 349,100 | 7,569,905 | 1,312 | 26.8 | 90 | 360 |
| SBBAC0036 | Air Core | 349,191 | 7,570,009 | 1,306 | 5.0 | 90 | 360 |
| SBBAC0037 | Air Core | 349,195 | 7,570,105 | 1,294 | 8.0 | 90 | 360 |
| SBBAC0038 | Air Core | 349,282 | 7,570,112 | 1,307 | 5.0 | 90 | 360 |
| SBBAC0039 | Air Core | 349,362 | 7,570,208 | 1,304 | 12.2 | 90 | 360 |
| SBBAC0040 | Air Core | 349,395 | 7,570,294 | 1,294 | 32.5 | 90 | 360 |
| SBBAC0041 | Air Core | 349,294 | 7,570,212 | 1,308 | 2.0 | 90 | 360 |
| SBBAC0042 | Air Core | 349,205 | 7,570,222 | 1,303 | 12.5 | 90 | 360 |
| SBBAC0043 | Air Core | 349,084 | 7,570,034 | 1,294 | 14.2 | 90 | 360 |
| SBBAC0044 | Air Core | 349,092 | 7,570,111 | 1,281 | 12.1 | 90 | 360 |
| SBBAC0045 | Air Core | 348,995 | 7,570,101 | 1,274 | 11.0 | 90 | 360 |
| SBBAC0046 | Air Core | 348,987 | 7,570,025 | 1,292 | 21.0 | 90 | 360 |
| SBBAC0047 | Air Core | 348,899 | 7,570,003 | 1,276 | 9.2 | 90 | 360 |
| SBBAC0048 | Air Core | 348,808 | 7,570,010 | 1,261 | 8.0 | 90 | 360 |
| SBBAC0049 | Air Core | 348,785 | 7,570,090 | 1,249 | 26.8 | 90 | 360 |
| SBBAC0050 | Air Core | 348,712 | 7,570,008 | 1,246 | 4.0 | 90 | 360 |
| SBBAC0051 | Air Core | 348,682 | 7,569,925 | 1,238 | 14.8 | 90 | 360 |
| SBBAC0052 | Air Core | 348,807 | 7,569,925 | 1,268 | 13.0 | 90 | 360 |
| SBBAC0053 | Air Core | 348,990 | 7,569,906 | 1,301 | 17.9 | 90 | 360 |
| SBBAC0054 | Air Core | 348,909 | 7,570,111 | 1,265 | 10.4 | 90 | 360 |
| SBBAC0055 | Air Core | 348,588 | 7,569,082 | 1,328 | 26.0 | 90 | 360 |
| SBBAC0056 | Air Core | 348,704 | 7,569,307 | 1,288 | 15.0 | 90 | 360 |
| SBBAC0057 | Air Core | 348,700 | 7,569,415 | 1,277 | 22.0 | 90 | 360 |
| SBBAC0058 | Air Core | 348,705 | 7,569,517 | 1,281 | 5.2 | 90 | 360 |
| SBBAC0059 | Air Core | 348,595 | 7,569,809 | 1,244 | 9.8 | 90 | 360 |
| SBBAC0060 | Air Core | 348,498 | 7,569,908 | 1,224 | 20.0 | 90 | 360 |
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Meteoric Resources NL Meteoric Resources NL ABN 64 107 985 651ABN 64 107 985 651 Level 1, 35 Ventnor Avenue, West Perth WA 6005Level 1, 35 Ventnor Avenue, West Perth WA 6005 www.meteoric.com.au www.meteoric.com.au | | Page 26 of 33Page 26 of 33
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| Hole ID | **Drill Type ** | East | North | Elevation | Depth | Dip | Azimuth |
|---|---|---|---|---|---|---|---|
| SBBAC0061 | Air Core | 349,796 | 7,570,608 | 1,277 | 32.0 | 90 | 360 |
| SBBAC0062 | Air Core | 349,671 | 7,570,521 | 1,289 | 21.5 | 90 | 360 |
| SBBAC0063 | Air Core | 349,587 | 7,570,439 | 1,293 | 23.6 | 90 | 360 |
| SBBAC0064 | Air Core | 349,592 | 7,570,509 | 1,293 | 30.0 | 90 | 360 |
| SBBAC0065 | Air Core | 349,596 | 7,570,610 | 1,278 | 27.4 | 90 | 360 |
| SBBAC0066 | Air Core | 349,497 | 7,570,612 | 1,269 | 25.4 | 90 | 360 |
| SBBAC0067 | Air Core | 349,492 | 7,570,712 | 1,249 | 11.2 | 90 | 360 |
| SBBAC0068 | Air Core | 349,502 | 7,570,797 | 1,232 | 16.5 | 90 | 360 |
| SBBAC0069 | Air Core | 349,595 | 7,570,807 | 1,241 | 13.5 | 90 | 360 |
| SBBAC0070 | Air Core | 349,595 | 7,570,710 | 1,258 | 19.0 | 90 | 360 |
| SBBAC0071 | Air Core | 349,688 | 7,570,606 | 1,274 | 20.5 | 90 | 360 |
| SBBAC0072 | Air Core | 349,697 | 7,570,719 | 1,255 | 18.0 | 90 | 360 |
| SBBAC0073 | Air Core | 349,798 | 7,570,707 | 1,259 | 28.2 | 90 | 360 |
| SBBAC0074 | Air Core | 349,794 | 7,570,809 | 1,245 | 24.0 | 90 | 360 |
| SBBAC0075 | Air Core | 349,699 | 7,570,806 | 1,247 | 28.0 | 90 | 360 |
| SBBAC0076 | Air Core | 349,694 | 7,570,906 | 1,230 | 11.2 | 90 | 360 |
| SBBAC0077 | Air Core | 349,790 | 7,570,904 | 1,233 | 21.2 | 90 | 360 |
| SBBAC0078 | Air Core | 349,498 | 7,570,409 | 1,282 | 16.0 | 90 | 360 |
| SBBAC0079 | Air Core | 349,510 | 7,570,503 | 1,282 | 18.8 | 90 | 360 |
| SBBAC0080 | Air Core | 349,424 | 7,570,671 | 1,249 | 5.2 | 90 | 360 |
| SBBAC0081 | Air Core | 349,431 | 7,570,614 | 1,260 | 18.1 | 90 | 360 |
| SBBAC0082 | Air Core | 349,434 | 7,570,508 | 1,264 | 24.0 | 90 | 360 |
| SBBAC0083 | Air Core | 349,293 | 7,570,509 | 1,264 | 26.4 | 90 | 360 |
| SBBAC0084 | Air Core | 349,267 | 7,570,417 | 1,274 | 24.0 | 90 | 360 |
| SBBAC0085 | Air Core | 349,207 | 7,570,307 | 1,287 | 10.0 | 90 | 360 |
| SBBAC0086 | Air Core | 349,189 | 7,570,408 | 1,294 | 32.0 | 90 | 360 |
| SBBAC0087 | Air Core | 349,195 | 7,570,498 | 1,284 | 21.6 | 90 | 360 |
| SBBAC0088 | Air Core | 349,100 | 7,570,611 | 1,291 | 19.0 | 90 | 360 |
| SBBAC0089 | Air Core | 349,077 | 7,570,512 | 1,307 | 22.5 | 90 | 360 |
| SBBAC0090 | Air Core | 349,012 | 7,570,618 | 1,302 | 2.0 | 90 | 360 |
| SBBAC0091 | Air Core | 349,113 | 7,570,696 | 1,275 | 8.3 | 90 | 360 |
| SBBAC0092 | Air Core | 349,201 | 7,570,676 | 1,268 | 22.5 | 90 | 360 |
| SBBAC0093 | Air Core | 349,296 | 7,570,680 | 1,252 | 11.4 | 90 | 360 |
| SBBAC0094 | Air Core | 349,194 | 7,570,608 | 1,276 | 10.0 | 90 | 360 |
| SBBAC0095 | Air Core | 349,256 | 7,570,602 | 1,263 | 13.0 | 90 | 360 |
| SBBAC0096 | Air Core | 348,895 | 7,570,709 | 1,295 | 3.6 | 90 | 360 |
| SBBAC0097 | Air Core | 349,100 | 7,570,814 | 1,283 | 12.2 | 90 | 360 |
| SBBAC0098 | Air Core | 348,787 | 7,570,828 | 1,255 | 3.6 | 90 | 360 |
| SBBAC0099 | Air Core | 348,800 | 7,570,904 | 1,254 | 44.0 | 90 | 360 |
| SBBAC0100 | Air Core | 348,773 | 7,570,978 | 1,255 | 71.0 | 90 | 360 |
| SBBAC0101 | Air Core | 348,786 | 7,571,313 | 1,228 | 26.0 | 90 | 360 |
| SBBAC0102 | Air Core | 348,882 | 7,571,315 | 1,209 | 18.0 | 90 | 360 |
| SBBAC0103 | Air Core | 348,811 | 7,571,198 | 1,223 | 27.0 | 90 | 360 |
| SBBAC0104 | Air Core | 348,804 | 7,571,118 | 1,226 | 24.0 | 90 | 360 |
| SBBAC0105 | Air Core | 348,887 | 7,571,108 | 1,229 | 21.5 | 90 | 360 |
| SBBAC0106 | Air Core | 348,897 | 7,571,003 | 1,244 | 70.0 | 90 | 360 |
| SBBAC0107 | Air Core | 348,921 | 7,570,917 | 1,251 | 24.0 | 90 | 360 |
| SBBAC0108 | Air Core | 348,985 | 7,570,919 | 1,257 | 29.0 | 90 | 360 |
| SBBAC0109 | Air Core | 349,111 | 7,570,884 | 1,276 | 14.2 | 90 | 360 |
| SBBAC0110 | Air Core | 349,101 | 7,571,002 | 1,255 | 2.0 | 90 | 360 |
| SBBAC0111 | Air Core | 349,087 | 7,571,100 | 1,240 | 77.4 | 90 | 360 |
| SBBAC0112 | Air Core | 349,004 | 7,571,207 | 1,218 | 19.5 | 90 | 360 |
| SBBAC0113 | Air Core | 349,014 | 7,571,331 | 1,214 | 33.4 | 90 | 360 |
| SBBAC0114 | Air Core | 349,106 | 7,571,225 | 1,229 | 28.0 | 90 | 360 |
| SBBAC0115 | Air Core | 349,212 | 7,571,128 | 1,255 | 43.0 | 90 | 360 |
| SBBAC0116 | Air Core | 349,207 | 7,571,216 | 1,250 | 38.2 | 90 | 360 |
| SBBAC0117 | Air Core | 349,284 | 7,571,214 | 1,249 | 22.0 | 90 | 360 |
| SBBAC0118 | Air Core | 349,197 | 7,571,315 | 1,229 | 24.0 | 90 | 360 |
| SBBAC0119 | Air Core | 349,121 | 7,571,309 | 1,230 | 40.0 | 90 | 360 |
| SBBAC0120 | Air Core | 349,373 | 7,571,306 | 1,251 | 20.2 | 90 | 360 |
| SBBAC0121 | Air Core | 349,410 | 7,571,215 | 1,271 | 26.0 | 90 | 360 |
| SBBAC0122 | Air Core | 349,403 | 7,571,096 | 1,292 | 11.4 | 90 | 360 |
| SBBAC0123 | Air Core | 349,290 | 7,571,011 | 1,298 | 12.1 | 90 | 360 |
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Meteoric Resources NL Meteoric Resources NL ABN 64 107 985 651ABN 64 107 985 651 Level 1, 35 Ventnor Avenue, West Perth WA 6005Level 1, 35 Ventnor Avenue, West Perth WA 6005 www.meteoric.com.au www.meteoric.com.au | | Page 27 of 33Page 27 of 33
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| Hole ID | **Drill Type ** | East | North | Elevation | Depth | Dip | Azimuth |
|---|---|---|---|---|---|---|---|
| SBBAC0124 | Air Core | 349,194 | 7,570,880 | 1,287 | 22.4 | 90 | 360 |
| SBBAC0125 | Air Core | 349,589 | 7,571,216 | 1,262 | 8.0 | 90 | 360 |
| SBBAC0126 | Air Core | 349,589 | 7,571,326 | 1,240 | 16.0 | 90 | 360 |
| SBBAC0127 | Air Core | 349,493 | 7,571,327 | 1,231 | 15.0 | 90 | 360 |
| SBBAC0128 | Air Core | 349,761 | 7,571,184 | 1,224 | 1.0 | 90 | 360 |
| SBBAC0129 | Air Core | 349,724 | 7,571,258 | 1,225 | 3.4 | 90 | 360 |
| SBBAC0130 | Air Core | 349,717 | 7,571,318 | 1,227 | 15.3 | 90 | 360 |
| SBBAC0131 | Air Core | 349,606 | 7,570,983 | 1,233 | 6.4 | 90 | 360 |
| SBBAC0132 | Air Core | 349,511 | 7,570,896 | 1,234 | 20.4 | 90 | 360 |
| SBBAC0133 | Air Core | 349,415 | 7,570,862 | 1,244 | 12.0 | 90 | 360 |
| SBBAC0134 | Air Core | 349,379 | 7,570,802 | 1,245 | 12.0 | 90 | 360 |
| SBBAC0135 | Air Core | 349,203 | 7,570,786 | 1,270 | 13.5 | 90 | 360 |
| SBBAC0136 | Air Core | 349,201 | 7,571,010 | 1,293 | 21.0 | 90 | 360 |
| SBBAC0137 | Air Core | 349,383 | 7,571,053 | 1,294 | 14.5 | 90 | 360 |
| SBBAC0138 | Air Core | 349,490 | 7,571,113 | 1,271 | 23.0 | 90 | 360 |
| SBBAC0139 | Air Core | 349,586 | 7,571,121 | 1,255 | 24.0 | 90 | 360 |
| SBBAC0140 | Air Core | 349,528 | 7,571,238 | 1,251 | 4.5 | 90 | 360 |
| SBBAC0141 | Air Core | 349,261 | 7,570,932 | 1,295 | 31.0 | 90 | 360 |
| SBBAC0142 | Air Core | 349,250 | 7,571,158 | 1,257 | 40.8 | 90 | 360 |
| SBBAC0143 | Air Core | 349,693 | 7,571,115 | 1,234 | 15.0 | 90 | 360 |
| SBBAC0144 | Air Core | 349,683 | 7,570,999 | 1,228 | 9.0 | 90 | 360 |
| SBBAC0145 | Air Core | 349,515 | 7,570,994 | 1,250 | 10.0 | 90 | 360 |
| SBBAC0146 | Air Core | 349,291 | 7,570,817 | 1,264 | 11.0 | 90 | 360 |
| SBBAC0147 | Air Core | 348,980 | 7,569,616 | 1,300 | 3.0 | 90 | 360 |
| SBBAC0148 | Air Core | 349,101 | 7,570,415 | 1,310 | 34.8 | 90 | 360 |
| SBBAC0149 | Air Core | 348,985 | 7,570,530 | 1,315 | 15.5 | 90 | 360 |
| SBBAC0150 | Air Core | 348,894 | 7,570,504 | 1,302 | 13.0 | 90 | 360 |
| SBBAC0151 | Air Core | 348,785 | 7,570,422 | 1,285 | 16.0 | 90 | 360 |
| SBBAC0152 | Air Core | 348,992 | 7,570,399 | 1,281 | 6.4 | 90 | 360 |
| SBBAC0153 | Air Core | 348,962 | 7,570,318 | 1,278 | 17.0 | 90 | 360 |
| SBBAC0154 | Air Core | 349,100 | 7,570,281 | 1,287 | 20.5 | 90 | 360 |
| SBBAC0155 | Air Core | 348,908 | 7,570,320 | 1,264 | 8.6 | 90 | 360 |
| SBBAC0156 | Air Core | 348,781 | 7,570,238 | 1,252 | 3.2 | 90 | 360 |
| SBBAC0157 | Air Core | 348,678 | 7,570,139 | 1,243 | 15.6 | 90 | 360 |
| SBBAC0158 | Air Core | 348,597 | 7,570,101 | 1,237 | 9.2 | 90 | 360 |
| SBBAC0159 | Air Core | 348,502 | 7,570,068 | 1,230 | 14.0 | 90 | 360 |
| SBBAC0160 | Air Core | 348,404 | 7,570,057 | 1,226 | 15.3 | 90 | 360 |
| SBBAC0161 | Air Core | 348,302 | 7,570,106 | 1,228 | 21.4 | 90 | 360 |
| SBBAC0162 | Air Core | 348,186 | 7,570,090 | 1,222 | 12.0 | 90 | 360 |
| SBBAC0163 | Air Core | 348,100 | 7,570,081 | 1,217 | 7.0 | 90 | 360 |
| SBBAC0164 | Air Core | 347,996 | 7,570,088 | 1,209 | 9.5 | 90 | 360 |
| SBBAC0165 | Air Core | 347,974 | 7,569,977 | 1,207 | 8.2 | 90 | 360 |
| SBBAC0166 | Air Core | 348,002 | 7,569,998 | 1,207 | 3.2 | 90 | 360 |
| SBBAC0167 | Air Core | 348,125 | 7,569,992 | 1,214 | 31.0 | 90 | 360 |
| SBBAC0168 | Air Core | 348,178 | 7,569,990 | 1,210 | 5.0 | 90 | 360 |
| SBBAC0169 | Air Core | 348,286 | 7,569,964 | 1,214 | 6.0 | 90 | 360 |
| SBBAC0170 | Air Core | 348,378 | 7,569,891 | 1,222 | 34.0 | 90 | 360 |
| SBBAC0171 | Air Core | 348,420 | 7,569,823 | 1,227 | 20.0 | 90 | 360 |
| SBBAC0172 | Air Core | 348,464 | 7,569,779 | 1,227 | 10.0 | 90 | 360 |
| SBBAC0173 | Air Core | 348,485 | 7,569,677 | 1,244 | 11.5 | 90 | 360 |
| SBBAC0174 | Air Core | 348,510 | 7,569,598 | 1,251 | 9.0 | 90 | 360 |
| SBBAC0175 | Air Core | 348,472 | 7,569,487 | 1,273 | 4.0 | 90 | 360 |
| SBBAC0175B | Air Core | 348,472 | 7,569,487 | 1,273 | 14.2 | 90 | 360 |
| SBBAC0176 | Air Core | 348,399 | 7,569,610 | 1,277 | 8.1 | 90 | 360 |
| SBBAC0177 | Air Core | 348,381 | 7,569,697 | 1,267 | 14.0 | 90 | 360 |
| SBBAC0178 | Air Core | 348,192 | 7,569,898 | 1,232 | 34.0 | 90 | 360 |
| SBBAC0179 | Air Core | 348,099 | 7,569,907 | 1,231 | 48.0 | 90 | 360 |
| SBBAC0180 | Air Core | 347,972 | 7,569,904 | 1,211 | 12.0 | 90 | 360 |
| SBBAC0181 | Air Core | 348,013 | 7,569,820 | 1,218 | 22.0 | 90 | 360 |
| SBBAC0182 | Air Core | 348,095 | 7,569,705 | 1,226 | 26.2 | 90 | 360 |
| SBBAC0183 | Air Core | 348,197 | 7,569,712 | 1,237 | 17.0 | 90 | 360 |
| SBBAC0184 | Air Core | 348,293 | 7,569,712 | 1,250 | 60.5 | 90 | 360 |
| SBBAC0185 | Air Core | 348,180 | 7,569,594 | 1,247 | 40.0 | 90 | 360 |
==> picture [82 x 24] intentionally omitted <==
Meteoric Resources NL Meteoric Resources NL ABN 64 107 985 651ABN 64 107 985 651 Level 1, 35 Ventnor Avenue, West Perth WA 6005Level 1, 35 Ventnor Avenue, West Perth WA 6005 www.meteoric.com.au www.meteoric.com.au | | Page 28 of 33Page 28 of 33
==> picture [596 x 69] intentionally omitted <==
| Hole ID | **Drill Type ** | East | North | Elevation | Depth | Dip | Azimuth |
|---|---|---|---|---|---|---|---|
| SBBAC0186 | Air Core | 348,181 | 7,569,498 | 1,240 | 25.0 | 90 | 360 |
| SBBAC0187 | Air Core | 347,942 | 7,569,672 | 1,229 | 34.0 | 90 | 360 |
| SBBAC0188 | Air Core | 348,253 | 7,569,882 | 1,224 | 38.0 | 90 | 360 |
| SBBAC0189 | Air Core | 348,099 | 7,569,809 | 1,235 | 26.1 | 90 | 360 |
| SBBAC0190 | Air Core | 348,309 | 7,569,786 | 1,254 | 48.2 | 90 | 360 |
| SBBAC0191 | Air Core | 348,290 | 7,569,506 | 1,265 | 8.0 | 90 | 360 |
| SBBAC0192 | Air Core | 348,292 | 7,569,585 | 1,275 | 3.0 | 90 | 360 |
| SBBAC0193 | Air Core | 348,398 | 7,569,412 | 1,287 | 20.0 | 90 | 360 |
| SBBAC0194 | Air Core | 348,463 | 7,569,370 | 1,295 | 10.0 | 90 | 360 |
| SBBAC0195 | Air Core | 348,504 | 7,569,309 | 1,304 | 9.0 | 90 | 360 |
| SBBAC0196 | Air Core | 348,503 | 7,569,007 | 1,306 | 1.5 | 90 | 360 |
| SBBAC0197 | Air Core | 348,371 | 7,568,989 | 1,310 | 22.0 | 90 | 360 |
| SBBAC0198 | Air Core | 348,290 | 7,569,018 | 1,300 | 5.0 | 90 | 360 |
| SBBAC0199 | Air Core | 348,195 | 7,569,012 | 1,291 | 12.5 | 90 | 360 |
| SBBAC0200 | Air Core | 348,203 | 7,568,906 | 1,291 | 7.0 | 90 | 360 |
| SBBAC0201 | Air Core | 348,266 | 7,568,939 | 1,299 | 25.0 | 90 | 360 |
| SBBAC0202 | Air Core | 348,095 | 7,568,905 | 1,261 | 12.0 | 90 | 360 |
| SBBAC0203 | Air Core | 348,079 | 7,568,818 | 1,252 | 15.0 | 90 | 360 |
| SBBAC0204 | Air Core | 347,997 | 7,568,805 | 1,236 | 8.0 | 90 | 360 |
| SBBAC0205 | Air Core | 348,098 | 7,568,706 | 1,238 | 18.0 | 90 | 360 |
| SBBAC0206 | Air Core | 348,156 | 7,568,810 | 1,263 | 18.0 | 90 | 360 |
| SBBAC0207 | Air Core | 348,093 | 7,569,020 | 1,277 | 8.0 | 90 | 360 |
| SBBAC0208 | Air Core | 348,003 | 7,568,969 | 1,264 | 11.5 | 90 | 360 |
| SBBAC0209 | Air Core | 348,102 | 7,569,100 | 1,290 | 6.0 | 90 | 360 |
| SBBAC0210 | Air Core | 348,000 | 7,569,107 | 1,279 | 13.0 | 90 | 360 |
| SBBAC0211 | Air Core | 347,961 | 7,569,147 | 1,277 | 1.5 | 90 | 360 |
| SBBAC0212 | Air Core | 347,993 | 7,569,207 | 1,291 | 22.5 | 90 | 360 |
| SBBAC0213 | Air Core | 348,091 | 7,569,212 | 1,297 | 1.5 | 90 | 360 |
| SBBAC0214 | Air Core | 348,070 | 7,569,290 | 1,286 | 9.0 | 90 | 360 |
| SBBAC0215 | Air Core | 347,947 | 7,569,306 | 1,276 | 22.0 | 90 | 360 |
| SBBAC0216 | Air Core | 347,990 | 7,569,414 | 1,252 | 5.0 | 90 | 360 |
| SBBAC0217 | Air Core | 348,081 | 7,569,417 | 1,243 | 19.5 | 90 | 360 |
| SBBAC0218 | Air Core | 348,067 | 7,569,518 | 1,235 | 9.2 | 90 | 360 |
| SBBAC0219 | Air Core | 347,997 | 7,569,511 | 1,243 | 15.8 | 90 | 360 |
| SBBAC0220 | Air Core | 347,999 | 7,569,603 | 1,232 | 21.5 | 90 | 360 |
| SBBAC0221 | Air Core | 347,942 | 7,569,672 | 1,229 | 15.2 | 90 | 360 |
| SBBAC0222 | Air Core | 348,201 | 7,569,093 | 1,284 | 10.0 | 90 | 360 |
| SBBAC0223 | Air Core | 348,330 | 7,569,125 | 1,301 | 5.0 | 90 | 360 |
| SBBAC0224 | Air Core | 348,388 | 7,569,211 | 1,304 | 22.5 | 90 | 360 |
| SBBAC0225 | Air Core | 348,399 | 7,569,304 | 1,301 | 8.3 | 90 | 360 |
| SBBAC0226 | Air Core | 348,276 | 7,569,115 | 1,284 | 7.0 | 90 | 360 |
| SBBAC0227 | Air Core | 348,279 | 7,569,206 | 1,275 | 14.8 | 90 | 360 |
| SBBAC0228 | Air Core | 348,281 | 7,569,302 | 1,273 | 7.0 | 90 | 360 |
| SBBAC0229 | Air Core | 348,595 | 7,568,913 | 1,303 | 12.0 | 90 | 360 |
| SBBAC0230 | Air Core | 348,595 | 7,568,791 | 1,309 | 37.0 | 90 | 360 |
| SBBAC0231 | Air Core | 348,592 | 7,568,707 | 1,291 | 21.5 | 90 | 360 |
| SBBAC0232 | Air Core | 348,593 | 7,568,607 | 1,287 | 22.0 | 90 | 360 |
| SBBAC0233 | Air Core | 348,494 | 7,568,612 | 1,284 | 22.0 | 90 | 360 |
| SBBAC0234 | Air Core | 348,388 | 7,568,594 | 1,291 | 35.4 | 90 | 360 |
| SBBAC0235 | Air Core | 348,393 | 7,568,707 | 1,269 | 18.0 | 90 | 360 |
| SBBAC0236 | Air Core | 348,293 | 7,568,707 | 1,260 | 18.2 | 90 | 360 |
| SBBAC0237 | Air Core | 348,204 | 7,568,688 | 1,255 | 4.0 | 90 | 360 |
| SBBAC0238 | Air Core | 348,188 | 7,568,594 | 1,240 | 8.0 | 90 | 360 |
| SBBAC0239 | Air Core | 348,270 | 7,568,491 | 1,243 | 13.0 | 90 | 360 |
| SBBAC0240 | Air Core | 348,340 | 7,568,397 | 1,247 | 7.0 | 90 | 360 |
| SBBAC0241 | Air Core | 348,495 | 7,568,307 | 1,260 | 16.5 | 90 | 360 |
| SBBAC0242 | Air Core | 348,497 | 7,568,217 | 1,253 | 18.0 | 90 | 360 |
| SBBAC0243 | Air Core | 348,597 | 7,568,213 | 1,262 | 22.0 | 90 | 360 |
| SBBAC0244 | Air Core | 348,697 | 7,568,203 | 1,276 | 11.0 | 90 | 360 |
| SBBAC0245 | Air Core | 348,594 | 7,568,307 | 1,263 | 24.0 | 90 | 360 |
| SBBAC0246 | Air Core | 348,694 | 7,568,312 | 1,277 | 10.0 | 90 | 360 |
| SBBAC0247 | Air Core | 348,616 | 7,568,398 | 1,269 | 7.0 | 90 | 360 |
| SBBAC0248 | Air Core | 348,689 | 7,568,409 | 1,275 | 10.0 | 90 | 360 |
==> picture [82 x 24] intentionally omitted <==
Meteoric Resources NL Meteoric Resources NL ABN 64 107 985 651ABN 64 107 985 651 Level 1, 35 Ventnor Avenue, West Perth WA 6005Level 1, 35 Ventnor Avenue, West Perth WA 6005 www.meteoric.com.au www.meteoric.com.au | | Page 29 of 33Page 29 of 33
==> picture [596 x 69] intentionally omitted <==
| Hole ID | **Drill Type ** | East | North | Elevation | Depth | Dip | Azimuth |
|---|---|---|---|---|---|---|---|
| SBBAC0249 | Air Core | 348,388 | 7,568,412 | 1,259 | 10.0 | 90 | 360 |
| SBBAC0250 | Air Core | 348,402 | 7,568,494 | 1,262 | 11.0 | 90 | 360 |
| SBBAC0251 | Air Core | 348,489 | 7,568,513 | 1,273 | 17.6 | 90 | 360 |
| SBBAC0252 | Air Core | 348,490 | 7,568,416 | 1,262 | 6.4 | 90 | 360 |
| SBBAC0253 | Air Core | 348,267 | 7,568,607 | 1,256 | 10.6 | 90 | 360 |
| SBBAC0254 | Air Core | 348,401 | 7,568,810 | 1,273 | 5.1 | 90 | 360 |
| SBBAC0255 | Air Core | 348,496 | 7,568,907 | 1,290 | 4.4 | 90 | 360 |
| SBBAC0256 | Air Core | 348,598 | 7,569,008 | 1,314 | 29.0 | 90 | 360 |
| SBBAC0257 | Air Core | 348,499 | 7,568,807 | 1,294 | 27.0 | 90 | 360 |
| SBBAC0258 | Air Core | 348,592 | 7,568,519 | 1,279 | 9.4 | 90 | 360 |
| SBBAC0259 | Air Core | 348,491 | 7,568,713 | 1,284 | 14.0 | 90 | 360 |
| SBBAC0260 | Air Core | 348,789 | 7,568,195 | 1,288 | 24.2 | 90 | 360 |
| SBBAC0261 | Air Core | 348,806 | 7,568,120 | 1,288 | 21.6 | 90 | 360 |
| SBBAC0262 | Air Core | 348,695 | 7,568,112 | 1,274 | 14.4 | 90 | 360 |
| SBBAC0263 | Air Core | 348,567 | 7,568,102 | 1,256 | 16.0 | 90 | 360 |
| SBBAC0264 | Air Core | 348,504 | 7,568,127 | 1,251 | 16.4 | 90 | 360 |
| SBBAC0265 | Air Core | 348,091 | 7,568,603 | 1,237 | 6.4 | 90 | 360 |
| SBBAC0266 | Air Core | 348,013 | 7,568,716 | 1,237 | 10.0 | 90 | 360 |
| SBBAC0267 | Air Core | 347,982 | 7,568,519 | 1,251 | 17.0 | 90 | 360 |
| SBBAC0268 | Air Core | 348,694 | 7,568,504 | 1,290 | 12.0 | 90 | 360 |
| SBBAC0269 | Air Core | 348,084 | 7,568,482 | 1,251 | 13.6 | 90 | 360 |
| SBBAC0270 | Air Core | 348,095 | 7,568,413 | 1,256 | 21.6 | 90 | 360 |
| SBBAC0271 | Air Core | 347,997 | 7,568,406 | 1,268 | 21.6 | 90 | 360 |
| SBBAC0272 | Air Core | 347,989 | 7,568,307 | 1,261 | 5.0 | 90 | 360 |
| SBBAC0273 | Air Core | 347,995 | 7,567,902 | 1,316 | 7.2 | 90 | 360 |
| SBBAC0274 | Air Core | 347,993 | 7,568,006 | 1,294 | 10.0 | 90 | 360 |
| SBBAC0275 | Air Core | 347,976 | 7,568,094 | 1,282 | 7.0 | 90 | 360 |
| SBBAC0276 | Air Core | 347,972 | 7,568,193 | 1,272 | 21.2 | 90 | 360 |
| SBBAC0277 | Air Core | 348,089 | 7,567,907 | 1,316 | 19.0 | 90 | 360 |
| SBBAC0278 | Air Core | 348,117 | 7,568,001 | 1,304 | 22.0 | 90 | 360 |
| SBBAC0279 | Air Core | 348,108 | 7,568,093 | 1,291 | 17.4 | 90 | 360 |
| SBBAC0280 | Air Core | 348,209 | 7,568,204 | 1,283 | 25.0 | 90 | 360 |
| SBBAC0281 | Air Core | 348,799 | 7,569,486 | 1,298 | 10.0 | 90 | 360 |
| SBBAC0282 | Air Core | 348,809 | 7,569,292 | 1,303 | 14.5 | 90 | 360 |
| SBBAC0283 | Air Core | 348,788 | 7,567,986 | 1,284 | 14.0 | 90 | 360 |
| SBBAC0284 | Air Core | 348,796 | 7,567,906 | 1,297 | 30.4 | 90 | 360 |
| SBBAC0285 | Air Core | 348,711 | 7,567,923 | 1,292 | 27.8 | 90 | 360 |
| SBBAC0286 | Air Core | 348,696 | 7,568,006 | 1,276 | 25.0 | 90 | 360 |
| SBBAC0287 | Air Core | 348,598 | 7,568,009 | 1,271 | 25.0 | 90 | 360 |
| SBBAC0288 | Air Core | 348,590 | 7,567,909 | 1,263 | 22.0 | 90 | 360 |
| SBBAC0289 | Air Core | 348,778 | 7,568,310 | 1,291 | 28.0 | 90 | 360 |
| SBBAC0290 | Air Core | 347,994 | 7,568,602 | 1,256 | 15.2 | 90 | 360 |
| SBBAC0291 | Air Core | 348,292 | 7,568,203 | 1,267 | 16.0 | 90 | 360 |
| SBBAC0292 | Air Core | 348,204 | 7,568,314 | 1,258 | 12.4 | 90 | 360 |
| SBBAC0293 | Air Core | 348,178 | 7,568,247 | 1,273 | 23.0 | 90 | 360 |
| SBBAC0294 | Air Core | 348,223 | 7,568,401 | 1,242 | 8.8 | 90 | 360 |
| SBBAC0295 | Air Core | 348,294 | 7,568,307 | 1,245 | 6.0 | 90 | 360 |
| SBBAC0296 | Air Core | 348,372 | 7,568,195 | 1,247 | 7.0 | 90 | 360 |
| SBBAC0297 | Air Core | 348,392 | 7,568,113 | 1,248 | 9.0 | 90 | 360 |
| SBBAC0298 | Air Core | 348,410 | 7,568,015 | 1,254 | 6.8 | 90 | 360 |
| SBBAC0299 | Air Core | 348,472 | 7,567,993 | 1,247 | 11.5 | 90 | 360 |
| SBBAC0300 | Air Core | 348,471 | 7,567,935 | 1,252 | 20.0 | 90 | 360 |
| SBBAC0301 | Air Core | 348,390 | 7,567,910 | 1,259 | 14.0 | 90 | 360 |
| SBBAC0302 | Air Core | 348,295 | 7,567,909 | 1,271 | 20.0 | 90 | 360 |
| SBBAC0303 | Air Core | 348,296 | 7,568,005 | 1,265 | 16.0 | 90 | 360 |
| SBBAC0304 | Air Core | 348,223 | 7,568,102 | 1,271 | 10.0 | 90 | 360 |
| SBBAC0305 | Air Core | 348,300 | 7,568,107 | 1,257 | 14.0 | 90 | 360 |
| SBBAC0306 | Air Core | 348,200 | 7,568,007 | 1,278 | 14.0 | 90 | 360 |
| SBBAC0307 | Air Core | 348,192 | 7,567,911 | 1,284 | 12.0 | 90 | 360 |
| SBBAC0308 | Air Core | 348,555 | 7,569,159 | 1,318 | 18.0 | 90 | 360 |
| SBBAC0309 | Air Core | 348,483 | 7,569,118 | 1,336 | 23.0 | 90 | 360 |
| SBBAC0310 | Air Core | 348,479 | 7,569,202 | 1,328 | 17.0 | 90 | 360 |
| SBBAC0311 | Air Core | 348,391 | 7,569,499 | 1,282 | 23.0 | 90 | 360 |
==> picture [82 x 24] intentionally omitted <==
Meteoric Resources NL Meteoric Resources NL ABN 64 107 985 651ABN 64 107 985 651 Level 1, 35 Ventnor Avenue, West Perth WA 6005Level 1, 35 Ventnor Avenue, West Perth WA 6005 www.meteoric.com.au www.meteoric.com.au | | Page 30 of 33Page 30 of 33
==> picture [596 x 69] intentionally omitted <==
| Hole ID | **Drill Type ** | East | North | Elevation | Depth | Dip | Azimuth |
|---|---|---|---|---|---|---|---|
| SBBAC0312 | Air Core | 348,307 | 7,569,414 | 1,274 | 23.0 | 90 | 360 |
| SBBAC0313 | Air Core | 348,245 | 7,569,409 | 1,250 | 23.0 | 90 | 360 |
| SBBAC0314 | Air Core | 349,338 | 7,570,293 | 1,291 | 18.0 | 90 | 360 |
| SBBAC0315 | Air Core | 349,410 | 7,570,426 | 1,271 | 14.0 | 90 | 360 |
| SBBAC0316 | Air Core | 348,897 | 7,569,609 | 1,291 | 14.0 | 90 | 360 |
| SBBAC0317 | Air Core | 349,997 | 7,571,312 | 1,227 | 18.0 | 90 | 360 |
| SBBAC0318 | Air Core | 349,903 | 7,571,306 | 1,217 | 22.0 | 90 | 360 |
| SBBAC0319 | Air Core | 350,018 | 7,571,185 | 1,233 | 22.0 | 90 | 360 |
| SBBAC0320 | Air Core | 349,803 | 7,571,084 | 1,220 | 13.5 | 90 | 360 |
| SBBAC0321 | Air Core | 349,791 | 7,571,004 | 1,228 | 9.0 | 90 | 360 |
| SBBAC0322 | Air Core | 350,108 | 7,571,081 | 1,254 | 15.0 | 90 | 360 |
| SBBDD0001 | Diamond | 348,798 | 7,569,486 | 1,298 | 18.2 | 90 | 360 |
| SBBDD0002 | Diamond | 349,085 | 7,568,049 | 1,284 | 31.5 | 90 | 360 |
| SBBDD0003 | Diamond | 348,991 | 7,570,681 | 1,295 | 19.8 | 90 | 360 |
| SBBDD0004 | Diamond | 350,299 | 7,569,907 | 1,215 | 31.1 | 90 | 360 |
| SBBDD0005 | Diamond | 348,119 | 7,568,005 | 1,304 | 23.4 | 90 | 360 |
| SBBDD0006 | Diamond | 349,844 | 7,570,495 | 1,292 | 10.3 | 90 | 360 |
| SBBDD0007 | Diamond | 347,976 | 7,569,982 | 1,207 | 11.1 | 90 | 360 |
| SBBDD0008 | Diamond | 349,904 | 7,570,592 | 1,275 | 29.3 | 90 | 360 |
| SBBDD0009 | Diamond | 350,004 | 7,570,493 | 1,259 | 29.6 | 90 | 360 |
| SBBDD0010 | Diamond | 348,196 | 7,569,900 | 1,232 | 38.7 | 90 | 360 |
| SBBDD0011 | Diamond | 348,804 | 7,569,298 | 1,303 | 28.9 | 90 | 360 |
| SBBDD0012 | Diamond | 349,062 | 7,571,158 | 1,233 | 48.1 | 90 | 360 |
| SBBDD0013 | Diamond | 349,124 | 7,570,520 | 1,293 | 39.0 | 90 | 360 |
| SBBDD0014 | Diamond | 348,660 | 7,568,096 | 1,269 | 16.1 | 90 | 360 |
==> picture [82 x 24] intentionally omitted <==
Meteoric Resources NL Meteoric Resources NL ABN 64 107 985 651ABN 64 107 985 651 Level 1, 35 Ventnor Avenue, West Perth WA 6005Level 1, 35 Ventnor Avenue, West Perth WA 6005 www.meteoric.com.au www.meteoric.com.au | | Page 31 of 33Page 31 of 33
==> picture [596 x 69] intentionally omitted <==
Appendix 3 Caldeira REE Project - Licence details
| License | Status | License Holder | Area(Ha) |
|---|---|---|---|
| 808027/1975 | MINING CONCESSION | COMPANHIA GERAL DE MINAS | 600.76 |
| 809358/1975 | MINING CONCESSION | COMPANHIA GERAL DE MINAS | 617.23 |
| 809359/1975 | MINING CONCESSION | COMPANHIA GERAL DE MINAS | 317.36 |
| 815645/1971 | MINING CONCESSION | COMPANHIA GERAL DE MINAS | 366.02 |
| 815682/1971 | MINING CONCESSION | COMPANHIA GERAL DE MINAS | 575.26 |
| 817223/1971 | MINING CONCESSION | MINERAÇÃO DANIEL TOGNI LOUREIRO LTDA | 772.72 |
| 803459/1975 | MINING CONCESSION | MINERAÇÃO PERDIZES LTDA | 24.02 |
| 808556/1974 | MINING CONCESSION | MINERAÇÃO PERDIZES LTDA | 204.09 |
| 811232/1974 | MINING CONCESSION | MINERAÇÃO PERDIZES LTDA | 524.40 |
| 814251/1971 | MINING CONCESSION | MINERAÇÃO PERDIZES LTDA | 124.35 |
| 815006/1971 | MINING CONCESSION | MINERAÇÃO PERDIZES LTDA | 717.52 |
| 816211/1971 | MINING CONCESSION | MINERAÇÃO PERDIZES LTDA | 796.55 |
| 835022/1993 | MINING CONCESSION | MINERAÇÃO PERDIZES LTDA | 73.50 |
| 835025/1993 | MINING CONCESSION | MINERAÇÃO PERDIZES LTDA | 100.47 |
| 814860/1971 | MINING CONCESSION | MINERAÇÃO ZELÂNDIA LTDA | 341.73 |
| 815681/1971 | MINING CONCESSION | MINERAÇÃO ZELÂNDIA LTDA | 766.54 |
| 820352/1972 | MINING CONCESSION | MINERAÇÃO ZELÂNDIA LTDA | 26.40 |
| 820353/1972 | MINING CONCESSION | MINERAÇÃO ZELÂNDIA LTDA | 529.70 |
| 820354/1972 | MINING CONCESSION | MINERAÇÃO ZELÂNDIA LTDA | 216.49 |
| 2757/1967 | MINING CONCESSION | RAJ MINERIOS LTDA | 20.10 |
| 5649/1963 | MINING CONCESSION | RAJ MINERIOS LTDA | 12.41 |
| 803457/1975 | MINING CONCESSION | RAJ MINERIOS LTDA | 60.64 |
| 825972/1972 | MINING CONCESSION | RAJ MINERIOS LTDA | 377.42 |
| 833914/2007 | MINING CONCESSION | RAJ MINERIOS LTDA | 6.99 |
| 002.349/1967 | MINING CONCESSION | VARGINHA MINERACAO E LOTEAMENTOS LTDA | 74.01 |
| 830443/2018 | EXPLORATION LICENSE | FERTIMAX FERTILIZANTES ORGANICOS LTDA | 79.24 |
| 830444/2018 | EXPLORATION LICENSE | FERTIMAX FERTILIZANTES ORGANICOS LTDA | 248.34 |
| 830824/2006 | EXPLORATION LICENSE | RAJ MINERIOS LTDA | 13.24 |
| 832350/2006 | EXPLORATION LICENSE | RAJ MINERIOS LTDA | 27.14 |
| 832351/2006 | EXPLORATION LICENSE | RAJ MINERIOS LTDA | 16.77 |
| 832671/2005 | EXPLORATION LICENSE | RAJ MINERIOS LTDA | 16.91 |
| 832714/2016 | EXPLORATION LICENSE | RAJ MINERIOS LTDA | 13.61 |
| 832800/2002 | EXPLORATION LICENSE | RAJ MINERIOS LTDA | 6.94 |
| 831686/2012 | EXPLORATION LICENSE | VARGINHA MINERACAO E LOTEAMENTOS LTDA | 6.50 |
| 832193/2012 | EXPLORATION LICENSE | VARGINHA MINERACAO E LOTEAMENTOS LTDA | 12.46 |
| 807899/1975 | MINING APPLICATION | COMPANHIA GERAL DE MINAS | 948.92 |
| 815274/1971 | MINING APPLICATION | COMPANHIA GERAL DE MINAS | 739.73 |
| 833486/1996 | MINING APPLICATION | MINAS RIO MINERADORA LTDA | 79.38 |
| 833655/1996 | MINING APPLICATION | MINAS RIO MINERADORA LTDA | 249.11 |
| 833656/1996 | MINING APPLICATION | MINAS RIO MINERADORA LTDA | 82.77 |
| 833657/1996 | MINING APPLICATION | MINAS RIO MINERADORA LTDA | 68.25 |
| 834743/1995 | MINING APPLICATION | MINAS RIO MINERADORA LTDA | 283.19 |
| 830513/1979 | MINING APPLICATION | MINERAÇÃO MONTE CARMELO LTDA | 457.77 |
| 804222/1975 | MINING APPLICATION | MINERAÇÃO PERDIZES LTDA | 403.65 |
| 813025/1973 | MINING APPLICATION | MINERAÇÃO PERDIZES LTDA | 943.74 |
| 830000/1980 | MINING APPLICATION | MINERAÇÃO PERDIZES LTDA | 203.85 |
| 831092/1983 | MINING APPLICATION | MINERAÇÃO PERDIZES LTDA | 171.39 |
| 830391/1979 | MINING APPLICATION | MINERAÇÃO PERDIZES LTDA. | 7.30 |
| 830633/1980 | MINING APPLICATION | MINERAÇÃO ZELÂNDIA LTDA | 35.25 |
| 831880/1991 | MINING APPLICATION | MINERAÇÃO ZELÂNDIA LTDA | 84.75 |
| 815237/1971 | MINING APPLICATION | RAJ MINERIOS LTDA | 131.98 |
| 830722/2002 | MINING APPLICATION | RAJ MINERIOS LTDA | 5.60 |
| 831250/2008 | MINING APPLICATION | RAJ MINERIOS LTDA | 2.48 |
| 831598/1988 | MINING APPLICATION | RAJ MINERIOS LTDA | 930.90 |
| 832889/2005 | MINING APPLICATION | RAJ MINERIOS LTDA | 27.82 |
| 837368/1993 | MINING APPLICATION | RAJ MINERIOS LTDA | 340.04 |
| 830551/1979 | MINING APPLICATION | TOGNI S/A MATERIAIS REFRATÕRIOS | 528.88 |
| 830416/2001 | MINING APPLICATION | VARGINHA MINERACAO E LOTEAMENTOS LTDA | 166.22 |
| 831269/1992 | MINING APPLICATION | VARGINHA MINERACAO E LOTEAMENTOS LTDA | 442.16 |
| 832146/2002 | MINING APPLICATION | VARGINHA MINERACAO E LOTEAMENTOS LTDA | 18.95 |
==> picture [82 x 24] intentionally omitted <==
Meteoric Resources NL Meteoric Resources NL ABN 64 107 985 651ABN 64 107 985 651 Level 1, 35 Ventnor Avenue, West Perth WA 6005Level 1, 35 Ventnor Avenue, West Perth WA 6005 www.meteoric.com.au www.meteoric.com.au | | Page 32 of 33Page 32 of 33
==> picture [596 x 69] intentionally omitted <==
| License | Status | License Holder | Area(Ha) |
|---|---|---|---|
| 832252/2001 | MINING APPLICATION | VARGINHA MINERACAO E LOTEAMENTOS LTDA | 51.96 |
| 832572/2003 | MINING APPLICATION | VARGINHA MINERACAO E LOTEAMENTOS LTDA | 204.49 |
| 833551/1993 | MINING APPLICATION | VARGINHA MINERACAO E LOTEAMENTOS LTDA | 98.87 |
| 833553/1993 | MINING APPLICATION | VARGINHA MINERACAO E LOTEAMENTOS LTDA | 98.13 |
| 830.697/2003 | MINING APPLICATION | VARGINHA MINERACAO E LOTEAMENTOS LTDA | 5.38 |
| 830.461/2018 | EXPLORATION APPLICATION | FERTIMAX FERTILIZANTES ORGANICOS LTDA | 50.88 |
| 832799/2002 | EXPLORATION APPLICATION | RAJ MINERIOS LTDA | 38.35 |
| 830955/2006 | EXPLORATION APPLICATION | VARGINHA MINERACAO E LOTEAMENTOS LTDA | 1993.50 |
| 833176/2008 | EXPLORATION APPLICATION | VARGINHA MINERACAO E LOTEAMENTOS LTDA | 634.00 |
==> picture [82 x 24] intentionally omitted <==
Meteoric Resources NL Meteoric Resources NL ABN 64 107 985 651ABN 64 107 985 651 Level 1, 35 Ventnor Avenue, West Perth WA 6005Level 1, 35 Ventnor Avenue, West Perth WA 6005 www.meteoric.com.au www.meteoric.com.au | | Page 33 of 33Page 33 of 33