MT MALCOLM MINES NL — Regulatory Filings 2022

Apr 26, 2022

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ASX Announcement
CALYPSO PROSPECT EXPLORATION UPDATE
27 April 2022
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Highlights

• Four (4) prominent high-density gravity anomalies, also associated with strong magnetic anomalism, have been identified within the prospective greenstone sequence from a recently completed geophysics gravity survey, including a larger high density gravity anomaly at depth.

• Reprocessing of historic aeromagnetic data has defined a possible circular intrusive igneous plug of interest at depth, co-incident with the gravity anomalies at depth.

• Historical drilling by Torian Resources ( refer ASX:TNR March Quarterly 2018 – page 18 ) confirms gold mineralisation spatially associated with high-density gravity target #2.

• Anomalous results (up to 2g/t Au) were received for the recently completed reverse circulation (RC) drilling program, which targeted Calypso style mineralisation at down hole depths of up to 180m.

• Deep diamond drill holes are due to commence this month, planned to intersect three of the four of the recently interpreted high-density gravity anomalies that do not appear to manifest at surface.

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ASX: M2M
ACN: 646 466 435
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mtmalcolm.com.au info@mtmalcolm.com.au Phone: (08) 6244 6617

Mt Malcolm Mines NL (ASX:M2M or “the Company”) is pleased to provide an exploration update following the recently completed ground-based geophysics gravity field survey and final receipt of results for the recently completed RC drilling at the Company’s flagship Calypso Prospect (P37/8792). The gravity survey covered an area of 2.5km x 1.75km which resulted in defining several new high-density gravity targets for drill targeting (Figure 1).

Since listing on the ASX on 10th September 2021, the Company has been systematically exploring the Mt Malcolm Project area, initially focusing on the Calypso Prospect.

A ground-based high-resolution gravity survey over the Calypso Prospect was undertaken in October 2021. The Calypso gravity survey consisted of 2,255 observations on a 50m x 50m gravity station spacing covering an area of 2.5km x 1.75km, with some areas of interest infilled to 25m x 25m station spacing (refer ASX:M2M announcement dated 29th November 2021: “High Resolution Gravity Targets Identified at Calypso”)

The magnetic and gravity data was processed and interpreted, which included merging the interpretation with available wider spaced regional gravity data obtained from Geoscience Australia’s Geophysical Archive Data Delivery System (GADDS). Data was sourced from within a 10km radial zone surrounding the tenement. The regional dataset is a composite of several surveys dating from 1971 to 2000 with an average station spacing of 1,500 metres.

RC drilling commenced in December 2021, and samples submitted for analysis in early January of 2022. Of the ten RC holes drilled, only five reached their planned depth, with the other five holes terminating prematurely due to drilling difficulties. Due to prolonged assay turn-around, the last of the results have only just been received and validated. Results are consistent with nearby mineralisation intersected in previous drilling, even though half of the holes were prematurely terminated.

High Resolution Gravity Anomalies Defined at Calypso

Interpretation and results from the ground-based gravity survey completed in December 2021 have been evaluated and a program of deep diamond drilling to 500m has been planned to commence this month (April 2022). Key findings of the High-Resolution Gravity Survey are:

• The Simple Bouguer gravity, when using a terrain correction density of 2.67g/cm3, has only minor correlation with the terrain.

• The Bouguer gravity has a substantial range of almost 5mGal across the survey area.

• The Bouguer gravity data has had a first-order polynomial trend removed (1TR), as this trend is associated with deep-seated sources.

• The 1TR gravity data has been inverted to a density distribution covering the survey area and extending to 1,000m below the surface.

• Inverted density distribution corresponds well to the mapped surface geology and indicates the presence of a higher density body at depth with four smaller stocks extending upward towards the surface.

• Four prospective targets have been identified, targeting local positive density anomalies associated with the smaller stocks, with maximum densities situated 105m-180m below surface (Figures 1 & 2).

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1
2
3
4
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FIGURE 1 Calypso Prospect – Simple gravity Bouguer anomaly. Four individual target areas (circled in white) displaying a higher order gravity response identified.

Four litho-structural target areas have been interpreted from the gravity images (Figure 1). The four targets are associated with the smaller apophysate stocks that extend towards the surface. Additionally below the target stocks there is an extremely large, high gravity response forming the shape of a palm of a hand facing upwards with fingers extended vertically upwards towards the surface (Figures 2 & 3).

Following a review of the historical drilling database and results from recent drilling, in some areas the gravity anomalies appear to have been insufficiently drilled or missed altogether. In some instances, fences of drilling pass nearby and either side of the anomalies (Figure 2).

Reprocessing of historic close spaced aeromagnetic data – multi-scale edge detection (“worming”) – has defined both deep-seated and shallow litho-boundaries associated with either faulting or changes in lithology. The deep-seated litho-boundaries suggest the presence of an interesting looking circular igneous intrusive plug (Figure 3). The magnetic anomalies from the historic data are extreme and appear to be associated with banded iron formation.

The previously mentioned four gravity anomalies are also associated with strong magnetic anomalism.

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Recent RC
drilling traverse Prop 24 TD 450m Recent RC
drilling traverse
Prop 22 TD 140m
Prop 25 TD 500m Prop 1 TD 210m
T2
T1 Prop 2 TD 240m
T3 Prop 3 TD 280m
Prop 4 TD 340m
High Density
Gravity Apohysates
Oblique view inclined downwards towards the northwest
NORTHEAST
NL
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FIGURE 2

Isometric view of three of the four gravity target areas (T1, T2 & T3) – tops identified at depths between 105m - 180m, and sitting above a deeper large and extremely high-density gravity response. Proposed drilling program showing priority one and two drill holes (yellow).

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FIGURE 3

Plan view of merged and processed magnetic data (TMI RTP 1VD) of the Calypso deposit environs, suggesting a possible presence of an interesting looking igneous intrusive plug.

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RC Drilling

Ten (10) Reverse Circulation (RC) drillholes were completed at the Calypso Prospect (P37/8792) for an advance of 1,280 metres. Drilling difficulties were encountered resulting in only five (5) of the holes reaching their planned depth. The other five (5) holes were terminated prematurely due to several reasons including adjacent drillhole collars blowing out and the rig being under capacity to handle the excess groundwater ingress.

Due to laboratory turn-around delays, the Company has only recently received the final results for this drilling program. Results were consistent with surrounding mineralisation and although the drilling did not produce high grade intercepts it confirmed the continuity of the mineralisation in all directions. Significant intercepts are reported in Table 1 below:

TABLE 1

Calypso Prospect - Significant drill intersections >0.2g/t Au

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1m re-splits
Hole East North RL Azim Depth
Dip
ID MGA94 MGA94 AHD TN (m)
from to metres Au g/t
21CYRC001 357325.5 6790472.9 354.1 89.3 -58.1 100 NSA
21CYRC002 357275.7 6790475.2 354.1 89.7 -59.3 110 13 7 0.41
6
incl 6
7 1 0.95
18 19 1 0.29
21CYRC003 357224.4 6790476.0 354.2 89.6 -60.8 100 26 27 1 0.32
32 33 1 2.05
51 52 1 2.03
21CYRC004 357175 6790475 355 84.5 -59.9 100 NSA
21CYRC005 357125 6790475 355 90.0 -60.0 100 NSA
21CYRC006 357500 6790150 355 84.5 -60.3 133 98 99 1 0.77
109 6 0.50
103
incl 108
109 1 1.66
21CYRC007 357400 6790150 355 88.2 -57.5 187 124 8 0.25
116
incl 123
124 1 0.56
21CYRC008 357300 6790150 355 90.0 -59.6 109 101 103 2 0.35
21CYRC009 357200 6790150 355 89.0 -58.4 181 75 76 1 0.59
103 6 0.62
97
incl 99
100 1 1.46
128 129 1 0.56
158 159 1 0.37
21CYRC010 357100 6790150 355 89.3 -59.2 160 NSA
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Notes:

1. Lower cutoff grade of 0.2g/t Au for reporting of significant intercept.

2. Maximum 2m of internal sub-grade material (<0.2g/t Au) included for reporting.

3. No top cut applied to high grades.

4. NSA = No Significant Assay.

5. Drillholes 21CYRC001-21CYRC003: collar coordinates & RL surveyed by Differential GPS (±0.5m).

6. Drillholes 21CYRC004-21CYRC010 collars surveyed by handheld GPS (±3m), RL assigned 355m (±3m).

7. Azimuth & Dip measured using a downhole north-seeking gyroscopic survey tool (Champ Gyro).

8. 21CYRC008 Initial azimuth recorded as a nominal 90°.

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Next Steps: Gravity Anomalies to be investigated by Stratigraphic Diamond Drilling

The Company is about to commence a diamond drilling program to investigate the highdensity gravity targets identified by the recent ground gravity survey.

A diamond core drilling program has been planned to simultaneously test the best existing gold mineralised intervals defined to date and the high gravity anomaly located in the centre of the Calypso Prospect (Planned drill hole “Prop25”, Figure 2). Figure 4 shows indicative locations of subsequent phase of proposed drilling.

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High Density
Gravity Apohysates
T2
T1
T3
Priority 3 drilling in red -
indicative only, can be
modified based on the results
of priority 1 and 2 drilling
Oblique view inclined downwards towards the northwest
NORTHEAST
NL
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FIGURE 4 Isometric view of T1, T2 & T3 gravity target areas. Proposed drilling program showing priority three drill holes (red).

Initially, the program will target several historical drill hole intersections on section 6790000mN, by testing areas ‘down dip’ and ‘in-between’ significant mineralised intersections, and along the main trend. This drilling is designed to test:

• Continuity between the intersections,

• Down-dip and up-dip extensions, and

• Identify plunge components to the mineralisation (Figure 4 & 5).

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FIGURE 5 Calypso Main Area – Planned drilling program on Section 6790000mN

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FIGURE 6

Calypso North Area – Planned drilling program (central cross section)

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Shallow mineralisation defined in an area referred to as Calypso North will also be targeted with 3 drill holes (either side of drill hole “Prop 22”, Figure 6). These drill holes are designed to identify the down-dip extensions to this mineralisation and enable more precise targeting of future drilling of the mineralised structure in the Calypso North area.

One drill hole is planned to target a shallow extension of the main gravity anomaly between Calypso North and Calypso Main that remains poorly tested. Another deep drill hole (ca 500m) is planned to intersect the heart of the gravity anomaly at depth (Drill hole “Prop 25” in Figure 2). This deep drill hole will intersect the complete stratigraphy that is known to host the gold mineralisation in this area. Information from this drill hole will greatly assist in determining the geological architecture of the Calypso Prospect and has potential to intersect significant mineralisation in multiple mineralised structures.

The information contained or referenced in this announcement was first released by the Company in it’s IPO Prospectus dated 2nd August 2021 “Mt Malcolm Mines NL ACN:646 466 435 Prospectus” as supplemented by a Supplementary Prospectus dated 19th August 2021 (Prospectus).

The Company is not aware of any new information or data that materially affects the information presented in the Prospectus. All drill information presented in this document is of historic value and has been released by the relevant companies to the ASX at the time.

This announcement has been authorised by the Board of Mt Malcolm Mines NL.

For further information please contact:-

Trevor Dixon

Managing Director

trevor@mtmalcolm.com.au

Competent Persons Statement

The information in this report that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr. Gary Powell, a Competent Person and a geological consultant to the company who is a Member of The Australasian Institute of Mining and Metallurgy and the Australian Institute of Geosciences in addition to being a shareholder and a Director of the company. Mr. Gary Powell has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr. Gary Powell consents to the inclusion in the report of the matters based on the information compiled by him, in the form and context in which it appears.’ The Company is not aware of any new information or data that materially affects the information included in the above.

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• Mt George • Emu Egg
• Sunday Picnic
• Germatong
• Pig Well
• Malcolm Dam
• Mt Stewart
• Calypso
N
0 10km CALYPSO
• Malcolm Mining
Centre
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About Mt Malcolm Mines NL:

Mt Malcolm Mines NL is managed by competent and experienced industry professionals with a strong background in mineral exploration and administration of mineral assets. Additionally, the company has many professional associations with and access to some of the industry’s best corporate and mining resource consultants.

The projects and properties are in areas with a proven track history of exploration success and significant mining and production of gold and other minerals. The holdings are centred around the locale of Malcolm near Leonora WA. The Company believes that it’s prospects offer excellent potential for the discovery of new economic mineral deposits and within the next (2) two years intends to:

• Conduct regional geological mapping and geochemical sampling programs.

• • Undertake focused and systematic exploration and scientific research programs.

• Aggressively seek exploration and development opportunities of other targets and quality projects that meet the Mt Malcolm Mines development objectives and where appropriate and if opportunities arise, examine the possibilities of joint ventures and other related business and commercial opportunities that will create value and wealth for all its shareholders.

The Mt Malcolm Gold Project has the potential to host economic gold mineralisation and opportunities exist to further enhance and build on the substantial exploration data assembled to date. The project represents a large-scale district gold play.

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APPENDIX A

JORC CODE, 2012 EDITION - TABLE 1 REPORT - CALYPSO PROSPECT

SECTION 1 - Sampling Techniques and Data

(Criteria outlined in Section 1 are applicable to all subsequent sections)

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Criteria Commentary
Sampling Reverse Circulation (RC) drill samples were collected over 1m down hole intervals beneath a
techniques cyclone attached to the drill rig. Typically 3-4kg sub-split samples were obtained. Sub samples
were collected in pre-numbered calico bags for submission to the analytical laboratory. The
remaining bulk residue was stored at the drill site. The vast majority of the samples were
collected dry although occasional wet samples were encountered, usually close to the end of
hole. The sampling techniques and methodologies used are deemed appropriate and industry
standard for this style of exploration.
Drilling Drilling techniques are conventional, industry standard methodologies utilising face sampling
techniques hammers with bit shrouds. RC drill bit sizes were typically 140-145mm.
RC drilling was conducted by iDrillings truck mounted Hydco 350RC 8x8 Atcross drill rig with
a 600/700psi 1800cfrm air compressor with auxiliary and booster air compressors (when
required). Drilling used down hole face sampling hammers. All metres were drilled dry, there
were occasional wet samples however the majority were kept dry. Holes were down hole
surveyed utilising a Axis Mining Technology’s Champ Gyro tool #13561. Some of the holes
deviated slightly.
Drill sample Drilling utilised a cyclone splitter attached to the rig. The sample reject is collected in plastic
recovery bags and a 3-4kg sub-sample is collected in calico bags for submission to the assay
laboratory. Following the sample collection the cyclone is flushed with compressed air at the
end of each 6m drill rod. The sampling cyclone is thoroughly cleaned at the end of each rod.
This process was maintained throughout the program. Recovery percentages were recorded
and deemed acceptable.
Collected samples are considered reliable and representative of drilled material. No material
discrepancy, that would impede a mineral resource estimate, exists between collected RC
primary and sub-samples.
No indication of sample bias is evident nor has it been established. No relationship has been
observed to exist between sample recovery and grade
Logging All drill holes (21CYC001-010) are geologically logged in there entirety at 1m intervals to
the end of the hole. All drill hole data is either digitally or physically captured. Validated and
standardisation are required prior to being uploaded to the Mt Malcolm data base. The level
of logging is detailed and considered appropriate for exploration and to support appropriate
mineral resource estimation, mining studies, and metallurgical studies.
Qualitative logging includes classification and description of lithology, weathering, oxidation,
colour, texture and grain size. Quantitative logging includes identification and percentages of
mineralogy, sulphides, mineralisation and veining.
Sub-sampling Samples are collected at 1m intervals. Typically a 3-4kg split sub sample from beneath
techniques the cyclone via a stationary cone splitter. Sampling methodologies are consistent with the
and sample industry standard. Sub samples are collected each day and taken to a secure location, the
remaining residue (plastic bags) are retained on site. Samples were kept dry by the use of
preparation
auxiliary and booster compressors, some wet samples were encountered due to high water
flows.
Field duplicates, blanks and certified standard material was periodically inserted into the
sample batches (approximately 1 in 10). Sub sampling and sample preparation techniques
are considered to be acceptable. Results indicate reasonable and acceptable analytical
repeatability. The QA/QC procedures implemented during the drill program are considered to
be todays industry standard practice.
Sample size and collection methodologies are considered appropriate for this style of gold
mineralisation and as an industry accepted method for evaluation of gold deposits in the
Eastern Goldfields of Western Australia.
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Criteria Commentary
Quality of Analysis of sample was conducted by Jinning Laboratories in Kalgoorlie. Samples were dried,
assay data and crushed and pulverised. The samples were assayed for gold only using a 50 gram Fire Assay
laboratory tests technique with AAS finish with an 0.01ppm detection limit. Field duplicates and Certified
Reference Material, standards and blanks are regularly inserted into the sample batch.
The laboratory also included standards and blanks as part of their internal QA/QC control.
Repeatability and standard results are within acceptable limits.
No geophysical tools were used to determine any element concentrations.
Verification of
No adjustment or calibrations have been made to any of the assay data. Sampling and assay
sampling and
techniques are conducted at todays standard.
assaying
Location of data Drill hole collars (21CYRC004-010 hole collars) were recorded using a hand held GPS and
points reported to the MGA94 UTM zone 51 coordinate system, with horizontal accuracy to ±3m.
Drill holes 21CYRC001-003 were picked up with a differential GPS (accuracy to 5mm) and
reported in the same co-ordinate system.
Data spacing and The drill hole and sampling spacing is project specific; the drilling patterns employed in the
distribution past were dependent on previous drilling and/or geological interpretation/targeting depending
on the nature and style of the mineralisation being tested. The sample spacing is considered
close enough to identify significant zones of gold mineralisation. The drill program is a follow
up/ongoing exploration exercise that was designed to identify areas of geological interest
and to confirm existing known mineralisation at the prospect. Closer spaced RC drilling on
surrounding cross sections and follow up diamond drilling maybe required to further delineate
the extent, size and geometry of some areas within identified zones of gold mineralisation.
Drill spacing and the drill technique is sufficient to establish the degree of geological and
grade continuity appropriate for any mineral resources and ore reserve estimation procedures
and classifications applied however the mineralised systems remain open and additional
infill or deeper drilling would be required to close off and confirm the full extent of identified
mineralisation, particularly at depth.
Data acquired and processed is only being considered for exploration purposes.
Orientation of The sheared Mt Malcolm greenstone sequence displays an NNE to NE lithological
data in relation orientation with steeply dipping stratigraphy. Stratigraphy is disrupted by the development
to geological of NW, NNW, NS, EW and NE trending faulted shear systems which display a variety of fold
structure styles ranging from open to isoclinal, in some cases the sequence has been overturned.
The chance of sample bias introduced by sample orientation is considered minimal. No
orientation sampling bias has been identified in the data thus far. Drilling and sampling
programs are conducted to obtain unbiased locations of drill sample data, generally
orthogonal to the strike of the mineralisation.
The regional geological structure is considered to be complex.
Sample security Samples are collected from the drill site on a daily basis. Once samples are collected from
the field they were securely stored in a locked yard at Leonora and/or transported to the
analytical laboratory. Once received by the laboratory samples are checked against the field
manifest, sorted and prepared for assay. Samples were then processed and assayed under
the supervision of the analytical laboratories. Once in the laboratories possession adequate
sample security measures are assumed to be adopted.
Audits or reviews Sampling methodologies, assay techniques and QA/QC protocols used in the various
historic drilling programs are not as thoroughly documented when compared to today’s
current standards. Reviews of the various available historical company reports regarding
drilling and sampling techniques indicate that they were conducted to the best practice of
the day however data is poorly validated and confidence levels are low regarding collar
co-ordinates, assay and logging techniques and sampling procedures.
Further audits or reviews are not considered necessary at this particular exploration stage.
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SECTION 2 - Reporting of Exploration Results

(Criteria outlined in the preceding section are also applicable to Section 2)

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Criteria Commentary
Mineral tenement The Mt Malcolm Project’s tenements are located within the Shire of Leonora in the Mt Margret
and land tenure Mineral Field in the centre of the North Eastern Goldfields of Western Australia. The Calypso
status prospect is located on P37/8792. The tenement is in good standing.
The tenement is held by Mt Malcolm Gold Holdings Pty Ltd a wholly owned subsidiary of Mt
Malcolm Mines NL. The tenements are managed and explored by Mt Malcolm Mines NL.
The details of all Company tenements are disclosed in Annexure B “Solicitor’s report on
tenements” which was released by the company in its IPO Prospectus dated 2nd August 2021
“Mt Malcolm Mines NL CAN 646 466 435 Prospectus” as supplemented by a supplementary
Prospectus dated 19th August 2021 (Prospectus).
All gold production is subject to a Western Australian government royalty of 2.5%
Exploration done The Calypso tenements have been explored and drilled by a number of exploration and
by other parties mining companies over numerous years dating back to the early 1980s, more active gold
exploration companies include, BHP Minerals Division Exploration Department, North Ltd
(1995-97) and most recently Torian Resources Ltd. Other companies include Occidental
Minerals (1979), Valiant Consolidation Ltd-Union Oil Development Company (1983-86),
Minplex Resources Pty Ltd-Anglo Consolidated Pty Ltd (1986 & 1997-98), Lake Raeside
NL (1996), Ashton Gold (1992) and Aurora Gold Ltd (1994). All have contributed to various
exploration programs utilising a wide variety of standard techniques.
Exploration activities by these companies covered all aspects of mineral exploration with a
particular focus on gold. On ground activities include geophysics, geochemistry, geological
mapping, drill programs (RAB, Aircore, RC and diamond), sampling, structural interpretation,
resource evaluations and geological assessments.
Historical reporting and descriptions of laboratory sample preparation, assay procedures and
quality control protocols for the samples from the various drilling programs are variable in their
descriptions and completeness.
The drilling database has been assembled, interrogated and scrutinised to a satisfactory level
however, in the majority of cases the data is historical and predates JORC 2012 compliance.
It has not been possible to fully verify the reliability and accuracy of portions of the data
however it appears that no serious problems have occurred. Historical exploration techniques
and reported mineralisation was conducted to the standards of the day.
Geology The Project area is located 25km east of Leonora in the North Eastern Goldfields which
covers segments of the altered mafic basalt/felsic volcanoclastic/sedimentary sequences of
the Malcolm Greenstone Belt, including the Calypso sedimentary sequence positioned within
the greenstones of the Kurnalpi Terrain. Local lithologies are characterized by linier trending
steeply dipping structures and highly sheared stratigraphy.
The area is regarded as structurally complex with both EW and NS fold axial traces however
at this stage of exploration its unknown how the interference of these two-fold sets has
influenced lithological patterns at Calypso. Geological evidence suggests that prominent
E-SW and NW trending fault zones truncate the fold pair.
Rock outcrop is non-existent and the project area is covered by sand dunes and recent
sediments related to the nearby Lake Raeside. Structurally the area is intensely sheared and
folded.
Regionally gold mineralization is associated with lithological contacts hosted by NW, NNW
& EW trending shear zones often associated with quartz veining. At Calypso mineralisation
is focused on faulted contacts between magnetite rich siltstone and other sedimentary facies
including massive flow breccia in a poorly sorted feldspathic matrix, polymictic conglomerate
or chloritic siltstone and related intense quartz-carbonate alteration with or without sericite
and pyrite.
There are no old workings evident at the Calypso prospect.
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Criteria Commentary
Drill hole The location of drill hole collars is recorded in the company database and presented as part of
information the significant intersection tables in the body of this report. All hole depths refer to down hole
depth in metres. Hole collars are quoted in the MGA94 Zone51 co-ordinate.
Drill hole depths are measured from the collar (top) of the hole to the bottom (end) of the hole.
Data aggregation No averaging of the raw assay data was applied. Raw data was used to determine the
methods location, width of gold intersections and anomalous gold trends. Geological assessment and
interpretation were used to determine the relevance of the plotted intersections with respect
to the sampled medium.
When drill holes are quoted individual grades are reported as down hole length weighted
average grades. Only intersections greater than or close to 0.5 g/t Au are regarded as
significant or anomalous. Intersections < 0.5g/t Au are regarded as indicative of potential
mineralisation but are not viewed as anomalous nor considered to be significant however
they are useful as a guide to potential mineralisation trends and relevant to any surrounding
mineralisation halo.
The significant intersections are tabled in the body of this report. No top cuts were applied to
any assay values. There is no reporting of metal equivalent values.
Relationship In general, the drill hole orientation may not be at an optimal angle to the strike of the local
between greenstone sequence (NW-NNW) and the identified gold mineralisation. However, the
mineralisation majority of holes are orientated in a easterly direction. Since the greenstone sequence is
widths and generally steeply dipping, drill intercepts are reported as downhole widths. As a result,
the reported intersections do not represent true widths. Orientation and geometry of the
intercept lengths
anomalous zones has been primarily determined by interpretation field observations and
orientation of historical drilling.
The maximum and minimum sample width within the reported mineralised zones is 1m.
Quoted intersections are weighted averages.
Diagrams No “type example” plans or diagrams are included in the body of this announcement
Balanced Only gold results regarded as significant or anomalous are discussed and reported,
Reporting generally samples assaying > 0.2 g/t Au which represents a low order mineable grade is
referred to in the table of significant intersections.
Other Substantive Regarding the results reviewed no other substantive data is currently considered necessary.
exploration data However, the project area has been explored by several listed companies in the past, only
results regarded as substantial, by those companies, have been reported in the past.
All meaningful and material information is presented in this document. Further data
collection will be reviewed and reported as and when considered material.
Further work The potential to increase the existing zones of mineralisation is viewed as probable,
however committing to further work does not guarantee that further delineation of the
extent, size and geometry of some areas within identified zones of gold mineralisation will
be the result.
Planned future work at the Calypso project includes exploration RC and/or diamond drilling,
database consolidation, on ground truthing, geophysical interpretation and geological
investigation.
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