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OMNIA METALS GROUP LTD — Capital/Financing Update 2025
Aug 6, 2025
65494_rns_2025-08-06_1f797276-b6ab-495b-a0be-abfcc343b85d.pdf
Capital/Financing Update
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ASX: OM1
ASX RELEASE I 7 AUGUST 2025
OMNIA SECURES HIGHLY PROSPECTIVE GOLD TENEMENTS
.
HIGHLIGHTS
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Omnia to enter 50/50 JV with Hardy Metals for highly prospective gold exploration licence application E39/2555.
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Significant intercepts include:
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3m @ 40.3g/t Au from 97m (CVRC088)
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3m @ 4.62g/t Au from 122m inc. 2m @ 6.65g/t Au from 122m (CVRC078)
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3m @ 3.02g/t Au from 66m (CVRC073)
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Omnia holds a strategic land package in the Albany-Fraser Orogen.
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The JV agreement comes after Omnia successfully completes drilling program at Salt Creek, with assays pending.
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The Salt Creek Project now covers a total area of 410 km[2] .
Omnia Metals Group Ltd (“ Omnia ” or the “ Company ”) (ASX: OM1) is pleased to announce it has entered into a Binding Term Sheet with Hardy Metals Pty Ltd, regarding a proposed Joint Venture Agreement (“ JV ”) in respect to exploration tenement application E39/2555 at the Company’s Salt Creek Project, north-east of Kalgoorlie.
The Joint Venture agreement comes after Omnia and Hardy Metals applied for the tenement, following its relinquishment, with the companies reaching an agreement to collaborate and progress exploration on the ground in unison.
OMNIA METALS EXECUTIVE CHAIRMAN, PATRICK GLOVAC, SAID: “The geological team have done an excellent job of identifying and securing a highly prospective piece of ground, with historical high-grade gold mineralisation intercepted in drilling. The low-cost acquisition is an achievement for Omnia and gives the Company a compelling portfolio of gold exploration tenure in the Albany-Fraser district, along strike from the Tropicana deposit.”
ASX: OM1
CORVETTE PROJECT
The Corvette Project is located approx. 250km east-northeast of Kalgoorlie in the Albany-Fraser Orogen (Figure 1). Access is via the unsealed Trans Access Road and Cable Haul Road.
The Corvette Project was originally identified and explored for gold by Western Mining Corporation in 1981. The Corvette Project consists of the Mustang, Camaro and Stingray prospects and the system shows a considerable strike length with bedrock gold intercepts exceeding 1g/t Au over 8km in strike (Figure 2). The area was later explored by the AngloGold Ashanti - Independence JV which resulted in the discovery of the Tropicana Gold Project. Corvette Resources Ltd subsequently completed two exploration programs in 2009 and successfully completed its Initial Public Offering, with the Corvette Project being its flagship project.
Both supergene and primary gold mineralisation has been intersected at the Corvette Project in two zones of intense shearing deformation (Figure 3). The gold depositional environment is similar to Tropicana with gold hosted in highly deformed, upper amphibolite to granulite facies gneissic rocks. Due to the high degree of deformation, the geometry of mineralisation is currently poorly constrained from historical drilling. Corvette Resources noted two distinctly different styles of gold mineralisation were noted from a review of the cross sections and the diamond core photographs:
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1) an early gold episode (“ EGE ”) copper gold within moderately south-southeast dipping shear. The EGE varies in grade from weakly anomalous to ppm.
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2) a Later Fracture Event (“ LFE ”) as thin, < 300mm wide, steeply west dipping, discontinuous, <30m long, brecciated, gossanous and quartz filled fractures with clearly defined boundaries hosting highto very-high gold grades.
JOINT VENTURE AGREEMENT
On 6 August 2025, Omnia and Hardy Metals Pty Ltd entered into a Binding Term Sheet proposing key commercial terms for a JV over nine overlapping blocks for tenement E39/2555 & E39/2556. Key terms of the proposed JV are detailed below:
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(a) Hardy and Omnia wish to agree on terms for an unincorporated JV over the JV Area under which their respective initial JV interests (“ JV Interest ”) will be:
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(i) Omnia: 50%; and
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(ii) Hardy: 50%
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(b) The Parties will agree on an exploration budget for the JV Area and each Party will contribute to the JV budgeted expenditure in accordance with their respective JV Interest.
ASX: OM1
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(c) The parties will enter into a definitive and legally binding joint venture agreement (“ JVA ”). The JVA will contain generally accepted mining principles and market standard terms, with the exception that dilution and royalty terms in the JVA will only come into operation following completion of the first year (“ FY1 ”) and second year (“ FY2 ”) of the JV.
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(d) Omnia may withdraw from the JV at any time and will only be liable for its portion of expenditure up to the date of its withdrawal.
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(e) Omnia will have no dilution or royalty rights if it withdraws from the JV prior to the end of FY2.
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(f) If Omnia contributes to JV budgeted expenditure during FY1 and FY2, but does not contribute and withdraws from the JV following the end of FY2, Omnia’s JV Interest will be converted to a 1% net smelter royalty (“ Royalty ”).
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(g) Hardy will be appointed as the Manager for the JV and will be responsible for keeping the Hardy Tenement and JV Area in good standing throughout the period of the JV.
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(h) The proposed two-year budget is $150,000.
The Company will cover its contributions for the JV from current cash reserves and within the existing allocated Salt Creek Project budget.
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Figure 1: Project Location Plan
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==> picture [420 x 605] intentionally omitted <==
Figure 2: The Corvette Project Drilling Results
ASX: OM1
Table 1: Table of Significant Intercepts from the Corvette Project.
| Hole ID | Easting | Northing | RL | Dip | Azi | From (m) |
To (m) | Interval | Au (g/t) |
|---|---|---|---|---|---|---|---|---|---|
| CVRC004 | 634724 | 6685253 | 270 | -60 | 120 | 35 | 38 | 3 | 0.49 |
| CVRC005 | 634783 | _6685252 _ | 270 | -60 | 177 | 75 | _81 _ | 6 | _1.04 _ |
| including | 77 | 78 | 1 | 2.03 | |||||
| CVRC005 | 634783 | 6685252 | 270 | -60 | 177 | 102 | 103 | 1 | 4.68 |
| CVRC006 | 634843 | 6685252 | 270 | -60 | 180 | 48 | 49 | 1 | 1.56 |
| CVRC006 | 634843 | 6685252 | 270 | -60 | 180 | 145 | 147 | 2 | 3.46 |
| including | 146 | 147 | 1 | _6.04 _ | |||||
| CVRC006 | 634843 | 6685252 | 270 | -60 | 180 | 156 | 160 | 4 | 1.3 |
| including | 156 | 158 | 2 | 2.19 | |||||
| CVRC008 | 634962 | 6685250 | 270 | -60 | 120 | 85 | 87 | 2 | 0.68 |
| CVRC013 | 635263 | 6685250 | 270 | -60 | 120 | 67 | 71 | 4 | 1.12 |
| including | 70 | 71 | 1 | 1.96 | |||||
| CVRC016 | 635442 | 6685250 | 270 | -60 | 120 | 14 | 19 | 5 | 0.9 |
| including | 15 | 16 | 1 | 3.2 | |||||
| CVRC016 | 635442 | 6685250 | 270 | -60 | 120 | 38 | 42 | 4 | 2.07 |
| including | 38 | 41 | 3 | 2.56 | |||||
| CVRC017 | 635503 | 6685250 | 270 | -60 | 120 | 28 | 32 | 4 | 1.52 |
| including | 29 | 31 | 2 | 2.37 | |||||
| CVRC017 | 635503 | 6685250 | 270 | -60 | 120 | 72 | 74 | 2 | _1.62 _ |
| including | 73 | 74 | 1 | 2.43 | |||||
| CVRC019 | 634580 | 6685055 | 270 | -60 | 120 | 57 | 61 | 4 | 1.67 |
| including | 58 | 60 | 2 | 2.32 | |||||
| CVRC020 | 634639 | 6685049 | 270 | -60 | 180 | 32 | 33 | 1 | 0.89 |
| CVRC020 | 634639 | 6685049 | 270 | -60 | 180 | 47 | 48 | 1 | 0.59 |
| CVRC026 | 635362 | 6684008 | 270 | -60 | 120 | 62 | 63 | 1 | 1.99 |
| CVRC027 | 634147 | 6682747 | 270 | -60 | 126 | 35 | 36 | 1 | 1.4 |
| CVRC027 | 634147 | 6682747 | 270 | -60 | 126 | 96 | 98 | 2 | 2.06 |
| CVRC028 | 634246 | 6682541 | 270 | -60 | 120 | 75 | 76 | 1 | 5.31 |
| CVRC029 | 634063 | 6682006 | 270 | -60 | 150 | 118 | 119 | 1 | 0.8 |
| CVRC031 | 633943 | 6681994 | 270 | -60 | 120 | 66 | 67 | 1 | 0.98 |
| CVRC033 | 633506 | _6681504 _ | 270 | -60 | 120 | 45 | 46 | 1 | 0.69 |
| CVRC033 | 633506 | 6681504 | 270 | -60 | 120 | 97 | 99 | 2 | 1.53 |
| CVRC039 | 633560 | 6680733 | 270 | -60 | 120 | 72 | 73 | 1 | 0.63 |
| CVRC041 | 633693 | 6680735 | 270 | -60 | 120 | 40 | 41 | 1 | 1.15 |
| CVRC041 | 633693 | 6680735 | 270 | -60 | 120 | 57 | 58 | 1 | 0.96 |
| _CVRC052 _ | 634149 | 6677990 | 270 | -60 | 120 | _32 _ | _34 _ | 2 | 1.18 |
| CVRC56 | 6679983 | 633542 | 270 | -60 | 180 | 96 | 97 | 1 | 1.06 |
| CVRC56 | 100 | 101 | 1 | 2.19 | |||||
| CVRC56 | 104 | 106 | 2 | 2.09 | |||||
| CVRC56 | 110 | 113 | 3 | 5.5 | |||||
| CVRC56 | 115 | 117 | 2 | _3.52 _ | |||||
| CVRC56 | 121 | 123 | 2 | 1.15 | |||||
| CVRC58 | 6679995 | 633421 | 90 | -60 | 148 | 77 | 78 | 1 | 2.5 |
| CVRC58 | 111 | 112 | 1 | 1.21 | |||||
| CVRC58 | 119 | 129 | 10 | 8.32 | |||||
| CVRC58 | _131 _ | _132 _ | 1 | 3.16 | |||||
| CVRC59 | 6680017 | 633514 | 270 | -60 | 150 | 80 | 82 | 2 | 2.41 |
| CVRC60 | 52 | 55 | 3 | 4.66 | |||||
| CVRC60 | 6680017 | 633544 | 270 | -60 | 180 | 60 | 61 | 1 | 0.98 |
| CVRC60 | 129 | 130 | 1 | 1.61 | |||||
| _CVRC061 _ | 6680015 | 633575 | 270 | -60 | 180 | 70 | 71 | 1 | _2.97 _ |
| CVRC061 | 114 | 115 | 1 | 1.32 | |||||
| _CVRC061 _ | 121 | 122 | 1 | 1.9 | |||||
| CVRC061 | 145 | 147 | 2 | 5.82 | |||||
| including | 145 | 146 | 1 | 11.08 | |||||
| CVRC061 | 159 | 160 | 1 | 1.3 | |||||
| CVRC062 | 6679961 | 633513 | 270 | -60 | 150 | 10 | 11 | 1 | 0.77 |
| _CVRC062 _ | 41 | 44 | 3 | 1.68 | |||||
| including | 42 | 43 | 1 | 2.52 | |||||
| _CVRC062 _ | 80 | 83 | 3 | 5.68 |
ASX: OM1
| including | _81 _ | _82 _ | 1 | 13.85 | |||||
|---|---|---|---|---|---|---|---|---|---|
| CVRC062 | 87 | 88 | 1 | 6.45 | |||||
| CVRC065 | 6685299 | 634782 | 270 | -60 | 150 | 55 | 56 | 1 | 1.52 |
| CVRC065 | 62 | 63 | 1 | 0.55 | |||||
| CVRC065 | 67 | 68 | 1 | 0.62 | |||||
| CVRC066 | 6685300 | 634843 | 270 | -60 | 180 | 95 | 96 | 1 | 1.27 |
| CVRC066 | 150 | 151 | 1 | 1.88 | |||||
| CVRC068 | 6685252 | 634869 | 270 | -60 | 230 | 72 | 73 | 1 | 1.09 |
| CVRC068 | 105 | 111 | 6 | 0.47 | |||||
| CVRC068 | 163 | 164 | 1 | 0.66 | |||||
| CVRC068 | 177 | 178 | 1 | _3.34 _ | |||||
| CVRC070 | 6685194 | 634778 | 270 | -60 | 150 | 31 | 32 | 1 | 1.22 |
| CVRC071 | 6685198 | 634839 | 270 | -60 | 180 | 95 | 96 | 1 | 0.83 |
| CVRC072 | 6685198 | 634898 | 270 | -60 | 216 | 54 | 55 | 1 | 0.53 |
| CVRC073 | 35 | 36 | 1 | 2.43 | |||||
| CVRC073 | 6685199 | 635443 | 270 | -60 | 120 | 66 | 69 | 3 | _3.02 _ |
| including | 66 | 67 | 1 | 5.93 | |||||
| CVRC074 | 6685200 | _635502 _ | 270 | -60 | 150 | 38 | 39 | 1 | 5.35 |
| CVRC074 | 54 | 56 | 2 | 5.56 | |||||
| CVRC074 | 77 | 80 | 3 | 0.89 | |||||
| including | 79 | 80 | 1 | 1.81 | |||||
| CVRC074 | 86 | 87 | 1 | 5.69 | |||||
| CVRC075 | 6685299 | 635440 | 270 | -60 | 120 | 38 | 39 | 1 | 0.86 |
| CVRC076 | 6685299 | 635499 | 270 | -60 | 144 | 70 | 71 | 1 | 0.56 |
| CVRC078 | 6685620 | 635117 | 270 | -60 | 143 | 122 | 125 | 3 | 4.62 |
| including | 122 | 124 | 2 | 6.65 | |||||
| CVRC88 | 6685196 | 635560 | 270 | -60 | 150 | 97 | 100 | 3 | 40.33 |
- ENDS -
This announcement is approved for release by the Board of Omnia Metals Group Ltd.
For further information please contact:
INVESTORS
Quinton Meyers
NON-EXECUTIVE DIRECTOR & COMPANY SECRETARY
ABOUT OMNIA METALS GROUP
Omnia Metals Group Ltd (ASX:OM1) goal is to become a leader in the exploration, and development, of future facing commodities used in advanced technologies and essential to the global energy transition.
FORWARD LOOKING STATEMENTS
Statements contained in this release, particularly those regarding possible or assumed future performance, costs, dividends, production levels or rates, prices, resources, reserves or potential growth of Omnia Metals Group Ltd, are, or may be, forward looking statements.
Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. Actual results and developments may differ materially from those expressed or implied by these forward-looking statements depending on a variety of factors.
COMPETENT PERSONS STATEMENT
The information in this report which relates to Exploration Results is based on information compiled by Dr. James Warren, a Competent Person who is a member of the Australian Institute of Geoscientists. Dr. Warren is the Chief Executive Officer of Augustus Minerals Limited. Dr. Warren has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australian Code of Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Dr. Warren consents to the inclusion in this report of the matters based on the information in the form and context in which it appears.
JORC Code, 2012 Edition – Table 1 Section 1 Sampling Techniques and Data
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| Sampling | • Nature and quality of sampling (eg cut channels, random chips, or | •Reverse-circulation drilling was completed by Corvette Resources Ltd in |
| techniques | specific specialised industry standard measurement tools appropriate | 2009. |
| to the minerals under investigation, such as down hole gamma sondes, | •Further detailed breakdown of drilling and results can be accessed via |
|
| or handheld XRF instruments, etc). These examples should not be | WAMEX Report A85978 | |
| taken as limiting the broad meaning of sampling. | •RC drilling was completed by Ranger drilling using a Schramm T450 drill | |
| • Include reference to measures taken to ensure sample representivity | rig. | |
| and the appropriate calibration of any measurement tools or systems | •Down hole surveys were completed using a Single Shot Digital Eastman | |
| used. | with survey intervals of 50m. | |
| • Aspects of the determination of mineralisation that are Material to the | •Holes were samples via a rig mounted riffle splitter at intervals of 1m. | |
| Public Report. | •Duplicates and standards were inserted on a 1:20 basis. | |
| • In cases where ‘industry standard’ work has been done this would be | •Samples were analysed by Genalysis Laboratory in Kalgoorlie with | |
| relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m | approx. 2kg of sample pulverized to produce a 50g charge for fire assay. | |
| samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. |
•Gold values determined by lead collected fire assay with flame atomic adsorption spectrometry detection (FA50/AAS) |
|
| Unusual commodities or mineralisation types (eg submarine nodules) | ||
| may warrant disclosure of detailed information. | ||
| Drilling | • Drill type (eg core, reverse circulation, open-hole hammer, rotary air | •RC drilling was completed by Ranger drilling using a Schramm T450 drill |
| techniques | blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or | rig. |
| standard tube, depth of diamond tails, face-sampling bit or other type, | •The drilling was completed using 120mm face sampling hammer. | |
| _whether core is oriented and if so, by what method, etc). _ | ||
| Drill sample | • Method of recording and assessing core and chip sample recoveries | •Sample recoveries were considered >90% |
| recovery | and results assessed. | |
| • Measures taken to maximise sample recovery and ensure | ||
| representative nature of the samples. | ||
| • Whether a relationship exists between sample recovery and grade and | ||
| whether sample bias may have occurred due to preferential loss/gain | ||
| of fine/coarse material. | ||
| Logging | • Whether core and chip samples have been geologically and | •All holes were geologically logged and recorded colour, weathering, |
| geotechnically logged to a level of detail to support appropriate Mineral | lithology, structure, veining and mineralisation. |
|
| Resource estimation, mining studies and metallurgical studies. | ||
| • Whether logging is qualitative or quantitative in nature. Core (or | ||
| costean, channel, etc) photography. | ||
| • _The total length and percentage of the relevant intersections logged. _ | ||
| Sub- | • If core, whether cut or sawn and whether quarter, half or all core taken. | •Samples were analysed by Genalysis Laboratory in Kalgoorlie with |
| sampling | • If non-core, whether riffled, tube sampled, rotary split, etc and whether |
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| techniques | sampled wet or dry. | approx. 2kg of sample pulverized to produce a 50g charge for fire assay. |
| and sample | • For all sample types, the nature, quality and appropriateness of the | |
| preparation | sample preparation technique. | |
| • Quality control procedures adopted for all sub-sampling stages to | ||
| maximise representivity of samples. | ||
| • Measures taken to ensure that the sampling is representative of the in | ||
| situ material collected, including for instance results for field | ||
| duplicate/second-half sampling. | ||
| • Whether sample sizes are appropriate to the grain size of the material | ||
| being sampled. | ||
| Quality of | • The nature, quality and appropriateness of the assaying and laboratory | •The nature and quality of the assays are considered industry standard |
| assay data | procedures used and whether the technique is considered partial or | and appropriate for this level of exploration. |
| and | total. | •Results were verified by internal lab procedures and QAQC protocols. |
| laboratory | • For geophysical tools, spectrometers, handheld XRF instruments, etc, | |
| tests | the parameters used in determining the analysis including instrument | |
| make and model, reading times, calibrations factors applied and their | ||
| derivation, etc. | ||
| • Nature of quality control procedures adopted (eg standards, blanks, | ||
| duplicates, external laboratory checks) and whether acceptable levels | ||
| of accuracy (ie lack of bias) andprecision have been established. | ||
| Verification | • The verification of significant intersections by either independent or | •The Company intends to complete drilling to verify and validate the |
| of sampling | alternative company personnel. | historical data. |
| and assaying | • The use of twinned holes. | |
| • Documentation of primary data, data entry procedures, data | ||
| verification, data storage (physical and electronic) protocols. | ||
| • _Discuss any adjustment to assay data. _ | ||
| Location of | • Accuracy and quality of surveys used to locate drill holes (collar and | •Collar coordinates were collected via DGPS by Cardnospectrum and |
| data points | down-hole surveys), trenches, mine workings and other locations used | have an accuracy of +/- 0.5m |
| in Mineral Resource estimation. | ||
| • Specification of the grid system used. | ||
| • Quality and adequacy of topographic control. | ||
| Data spacing | • Data spacing for reporting of Exploration Results. |
•The data spacing and distribution is random and considered appropriate |
| and | • Whether the data spacing and distribution is sufficient to establish the | for this stage of exploration. |
| distribution | degree of geological and grade continuity appropriate for the Mineral | •The data spacing and distribution is not adequate to complete resource |
| Resource and Ore Reserve estimation procedure(s) and classifications | modelling and further drilling is required to determine the controls and |
|
| applied. | extent of mineralisation. | |
| • Whether sample compositing has been applied. |
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| Orientation of | • Whether the orientation of sampling achieves unbiased sampling of |
•Further work is required to determine the geometry of mineralisation and |
| data in | possible structures and the extent to which this is known, considering | if historical drilling achieves unbiased sampling. |
| relation to | the deposit type. | |
| geological | • If the relationship between the drilling orientation and the orientation of | |
| structure | key mineralised structures is considered to have introduced a sampling | |
| bias, this should be assessed and reported if material. | ||
| Sample | • The measures taken to ensure sample security. | •Unknown |
| security | ||
| Audits or | • The results of any audits or reviews of sampling techniques and data. | •No external audits or reviews have been completed. |
| reviews | •The Competent Person has reviewed and interpreted the historical data. |
JORC Code, 2012 Edition – Table 1 Section 2 Reporting of Exploration Results
| Criteria | JORC Code explanation | Commentary | Commentary |
|---|---|---|---|
| Mineral | • Type, reference name/number, location and ownership including | • | The release refers to exploration license application E39/2555. |
| tenement | agreements or material issues with third parties such as joint ventures, | ||
| and land | partnerships, overriding royalties, native title interests, historical sites, | ||
| tenure status | wilderness or national park and environmental settings. | ||
| • The security of the tenure held at the time of reporting along with any | |||
| known impediments to obtaining a licence to operate in the area. | |||
| Exploration | • Acknowledgment and appraisal of exploration by other parties. | • | Exploration completed by other parties has been highlighted in the text. |
| done by | • | Corvette Resources Ltd released the results of exploration 24 Dec | |
| other parties | 2009. | ||
| Geology | • Deposit type, geological setting and style of mineralisation. | • | The surface of the project area is mostly covered by red-brown aeolian |
| sand, overlying a calcrete surface. | |||
| • | The basement consists of rocks of the Biranup Complex which is | ||
| comprised of deformed, mafic granulites, quartzo-feldspathic gneisses | |||
| and granitic gneisses. | |||
| • | Gold mineralisation is hosted in sheared and altered granitic, | ||
| granodioritic and dioritic rocks | |||
| Drill hole | • A summary of all information material to the understanding of the | • | Drill hole tables have been provided in the body of the text. |
| Information | exploration results including a tabulation of the following information for | ||
| all Material drill holes: | |||
o easting and northing of the drill hole collar |
|||
o elevation or RL (Reduced Level – elevation above sea level in |
|||
| metres) of the drill hole collar | |||
o dip and azimuth of the hole |
|||
o down hole length and interception depth |
|||
o hole length. |
|||
| • If the exclusion of this information is justified on the basis that the | |||
| information is not Material and this exclusion does not detract from the | |||
| understanding of the report, the Competent Person should clearly | |||
| explain why this is the case. | |||
| Data | • In reporting Exploration Results, weighting averaging techniques, | • | No data aggregation methods applied |
| aggregation | maximum and/or minimum grade truncations (eg cutting of high | ||
| methods | grades) and cut-off grades are usually Material and should be stated. | ||
| • Where aggregate intercepts incorporate short lengths of high grade | |||
| results and longer lengths of low grade results, the procedure used for | |||
| such aggregation should be stated and some typical examples of such |
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| aggregations should be shown in detail. | ||
| • The assumptions used for any reporting of metal equivalent values | ||
| should be clearly stated. | ||
| Relationship | • These relationships are particularly important in the reporting of | •The relationship between mineralisation and true width is poorly |
| between | Exploration Results. | constrained. Further work is required to determine the true width and |
| mineralisatio | • If the geometry of the mineralisation with respect to the drill hole angle | orientation of mineralisation. |
| n widths and | is known, its nature should be reported. | |
| intercept | • If it is not known and only the down hole lengths are reported, there | |
| lengths | should be a clear statement to this effect (eg ‘down hole length, true | |
| _width not known’). _ | ||
| Diagrams | • Appropriate maps and sections (with scales) and tabulations of | •Appropriate diagrams have been provided in the body of the text. |
| intercepts should be included for any significant discovery being | ||
| reported These should include, but not be limited to a plan view of drill | ||
| hole collar locations and appropriate sectional views. | ||
| Balanced | • Where comprehensive reporting of all Exploration Results is not | •The Company has reported historical results >0.5g/t Au. |
| reporting | practicable, representative reporting of both low and high grades | •The Company considers this appropriate given the early stage nature |
| and/or widths should be practiced to avoid misleading reporting of | of exploration. | |
| Exploration Results. | ||
| Other | • Other exploration data, if meaningful and material, should be reported | •No other substantive data available at this stage. |
| substantive | including (but not limited to): geological observations; geophysical | |
| exploration | survey results; geochemical survey results; bulk samples – size and | |
| data | method of treatment; metallurgical test results; bulk density, | |
| groundwater, geotechnical and rock characteristics; potential | ||
| deleterious or contaminating substances. | ||
| Further work | • The nature and scale of planned further work (eg tests for lateral | •Following the grant of the tenement, the Company intends to complete |
| extensions or depth extensions or large-scale step-out drilling). | its own verification test work to validate the historical drilling results. | |
| • Diagrams clearly highlighting the areas of possible extensions, | ||
| including the main geological interpretations and future drilling areas, | ||
| provided this information is not commercially sensitive. |