ORBMINCO LIMITED — AGM Information 2018

Nov 28, 2018

Woomera Mining Limited

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2018 AGM Presentation

29 November 2018

Important Notice

This Presentation

The information in this presentation ( Presentation ) has been prepared by Woomera Mining Limited ( Company ).

The mineral tenements of the Company as described in this Presentation ( Tenements ) are at various stages of exploration, and potential investors should understand that mineral exploration and development are high risk undertakings. There can be no assurance that exploration of the Tenements, or any other tenements that may be acquired in the future, will result in the discovery of economic ore deposits.

General Information Only

This Presentation provides general information to assist you with your own evaluation of the Company’s exploration assets. This Presentation is not, and is not intended to be, advice on legal, financial, taxation or investment matters nor is it intended to be financial product advice from the Company or any of its directors, employees, agents or advisers.

No Recommendation

This Presentation is not intended to be and is not a recommendation from either the Company or its directors, employees, agents or advisers regarding the Company.

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Competent Person’s Statement

Competent persons statement

The exploration results reported herein, insofar as they relate to mineralisation, are based on information compiled by Mr Gerard Anderson, Managing Director of Woomera Mining Limited. Mr Anderson is a Member of the Australasian Institute of Mining and Metallurgy who has over forty-two years experience in the field of activity being reported. Mr Anderson has sufficient experience which is relevant to the styles of mineralisation and types of deposit under consideration and to the activity that he is undertaking 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’ relating to the reporting of Exploration Results. Mr Anderson consents to the inclusion in the report of matters based on his information in the form and context in which it appears.

Forward looking statements

The information in this presentation is published to inform you about Woomera Mining Limited and its activities. Some statements in this presentation regarding estimates or future events are forward looking statements.

Although Woomera Mining Limited believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results and outcomes will be consistent with these forward-looking statements.

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Presentation Outline

Woomera Mining Limited- background

WML Company structure

WML – Key assets

Musgrave Alcurra-Tieyon Project Gawler Craton

• Labryinth

• Nawa

Hard Rock Lithium Prospects

• Pilgangoora

• Mt Cattlin

• Cowan

Lithium Brine Prospects

• Lake Dundas

• Other brine prospects

EL 6091, EL 6092 and EL 6133 lapsed and will be reapplied for in February 2019

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Woomera Mining Limited - background

• Ausroc Metals Limited (ASX: ARK or “Company”) re-commenced trading on the Australian Securities Exchange (ASX) at 10 am (AEST) on the 5[th] March 2018, following a takeover by Woomera Exploration Limited (‘WEX’).

• The Company successfully raised $4,086,320 at $0.20/share under the Replacement Prospectus dated 8 January 2018.

• Following shareholder approval on the 5[th] December 2017, the Company’s name changed to Woomera Mining Limited on the 9[th] March 2018. The effective date for the change of the ASX Ticker Code from ARK to WML was 14[th] March 2018.

Corporate Structure	Corporate Structure
Current share price*	$0.09
Share on Issue	112,704,433
Market Cap.	$10.1M
Cash and cash equivalents1	$2.2M
Debt	Nil
Enterprise Value	$7.9M

Board of Directors	Board of Directors
Neville Martin	Non Executive Chairman
Gerard Anderson	Managing Director
David Lindh	Non Executive Director
Don Triggs	Executive Director
Joe Fekete	Non Executive Director

• Share Price as at 27th Nov 2018

• 1 Cash at 1/10/2018

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Woomera Mining Limited – small shareholdings

• WML has a large number of small shareholders mostly attributable to past 1:10 then 1:50 Ausroc consolidations

• WML moving to manage non-marketable parcels

	SHARES HELD	No SHAREHOLDERS	AVERAGE HOLDING
	>1001	768	NR
	501 - 1000	135	756
	101-500	228	264
	1-100	461	29
	1	117	1

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Woomera Mining Limited – Company structure

Woomera Mining Limited

Woomera Exploration Limited (100%)

Norsa Exploration Pty Ltd (100%)

Volt Lithium Pty Lt d (100%)

Liquid Lithium Pty Ltd (100%)

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Key assets

	Large land positions in key exploration areas	•Multiple tenements and tenement applications
		•Musgrave Province
		•Gawler Craton
		•Pilgangoora
		•Mt Cattlin •Cowan
		•SE Yilgarn lakes
	Exposure to Demand metals	•Magmatic copper-nickel-cobalt-PGE
		•IOCG
		•Copper-gold-REE
		•Lithium-tantalum
	OZ Minerals JV	•Staged earn in
	Innovative use of Technology	•VRMI applied to base metal exploration
		•High quality vectoring tool

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Musgrave Alcurra-Tieyon Project

• Tenements prospective for nickel, copper, cobalt, gold, silver-lead-zinc, platinum group elements (PGE) and rare earths.

• Numerous anomalies identified from geophysics and government drilling

• Highly anomalous silver-copper-zincantimony rock samples reported in GSSA 2014 field study

• Recent discoveries in western Musgrave: Nebo-Babel (283Mt @ 0.36% Ni 0.39% Cu) (Source Cassini Resources website) and Wingellina (182.5 Mt @ 0.91% Ni ) (Source Metals X 2018 Annual Report)

• Musgrave Province – the least studied of Australia’s Proterozoic Provinces.

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EL 6091 and EL 6092 lapsed and will be reapplied for in February 2019

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Vector Residual Magnetic Intensity (VRMI) Transform

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TMI VRMI
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• Rocks in the project area have highly variable magnetic signatures, primarily due to the remanent components of the ultramafic/mafic intrusives. WML has applied the VRMI transform to compensate for the remanence observed in the TMI.

• The above images using data from the 1994 CRAE survey show the TMI on the left and the VRMI transform on the right, highlighting large tracts of ground where there is a major change to the apparent susceptibility.

• The orthogonal components of the magnetic field are not normally available so a Fourier function is derived to fit the TMI surface so that the orthogonal components of the TMI can be extracted at any point of the TMI surface.

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Proof of Concept - VRMI processing of TMI data over Nebo-Babel

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VRMI shows remarkable fit with Nebo Babel deposits
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Musgrave Alcurra-Tieyon Project – Anomalies

• Excellent TMI coverage 1994 CRAE airborne survey (200m spaced E-W lines and sensor

• height 60m) and GSSA 1993 survey (400m N-S lines and sensor height 80m).

• 12 geophysical/geochemical anomalies based on historic data.

• Giles Complex ultramafic/mafic intrusives with good potential for magmatic Ni-Cu-Co deposits.

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Vector Residual Magnetic Intensity (VRMI)

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Musgrave Alcurra-Tieyon Project – Stage 1 JV Targets

• Seven anomalies chosen as first targets

• Cultural Heritage Survey completed in June 2018 cleared six areas, Healy, Gallagher, Walsh, O’Mahony, Cavanagh and MacNamara

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Musgrave Alcurra-Tieyon Project – EM Survey

Overview of Moving Loop Electromagnetic grids

Alcurra-Tieyon Project-MLEM Line Summary	Alcurra-Tieyon Project-MLEM Line Summary	Alcurra-Tieyon Project-MLEM Line Summary	Alcurra-Tieyon Project-MLEM Line Summary	Alcurra-Tieyon Project-MLEM Line Summary	Alcurra-Tieyon Project-MLEM Line Summary	Alcurra-Tieyon Project-MLEM Line Summary
Area No	Area Name	No. Lines	Stations/Line	Station Spacing	Total Stations	Line Kms
1	MacNamara	2	10	200	20	3.6
2	Cavanagh	7	7	200	49	8.4
2	Cavanagh	2	4	100	8	0.6
2	Cavanagh	1	6	50	6	0.25
3	O'Mahony	7	22	200	154	29.4
4	Healy	5	8	200	40	7
4	Healy	2	15	100	30	2.8
5	Gallagher	4	9	200	36	6.4
7	Walsh	6	26	200	156	30
Totals		36			499	88.45

MLEM survey configuration – MacNamara not completed

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Conductors at all six EM surveyed areas

• Five survey areas (Cavanagh, Healy, Gallagher, Walsh, O’Mahony and MacNamara) recorded strong conductors on the 200m line spaced EM survey

• EM lines at Healy, Gallagher, Walsh and O’Mahony infilled to 100 m spacings provided data needed to define hole collar locations for RC drilling

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Musgrave exploration status

• Native Title Mining Agreement signed

• Heritage Clearance survey competed

• EM survey commenced on 16 August

• Conductors identified at all six target areas

• PEPR approved 28 September

• RC drilling program commenced November 2018 but suspended pending

• resolution of licence renewal issues

• WML to reapply for the tenements following the statutory period

• Cavanagh, O’Mahony and MacNamara to be drilled at a later date subject to the

tenement renewals process

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Woomera Prohibited Area prospect locations

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• WPA occupies 122,188 km[2] (12.5% of the size of SA or 53.8% the size of Victoria).

• Access first granted for resources development in May 2011. WML’s Woomera Exploration formed at that time.

• WML tenements within WPA Periodic Use Zone 2 and Defence Infrequent Use Zone.

• Discussions initiated with Antakirinja Matu-Yankunytjatjara Native Title Claim Group

• (AMYAC) with a view to completing a Native Title Mining Agreement covering Labryinth and Nawa Projects during Q4 2018.

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Labyrinth Prospect – Copper, Gold and Rare Earths

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Reprocessed Total Magnetic Intensity
Reversely polarised
magnetic anomaly
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VRMI Corrected

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• CRAE drilling (1988) intersected Cu sulphide and REE mineralisation in peridotites and basalts respectively

• Magnetic and gravity data modelling has identified areas for follow-up drilling

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Labyrinth predicted body

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Previous drill hole Predicted body – Magnetic
(303m)) (Susceptibility (0.06 SI units)
Predicted body – Gravity
(density contrast 1.5)
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Modelling outlined a large high density shell 1.2 km x 0.5 km

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Gawler Craton Nawa Domain – geology & drilling

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• Coincident magnetic and gravity anomalies tested by BHP in 1992 with drill hole CR9214 (264m)

• Intersected basement at 236m and terminated in Mount Woods complex which hosts Prominent Hill

• Graphitic, siliceous ultramafic rocks from 236m to 240m

• Graphitic quartz magnetite unit from 240m to 254m

• Pyritic gneiss 254 to 262m (best assays 130ppm Cu, 26ppm Zn and 20ppm Pb

• Prospective for IOCG, BIF and gold deposits.

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Nawa Domain – coincident magnetic and gravity anomalies

Magnetic Anomaly

Gravity Anomaly

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Area circled in red highlights coincident magnetic and gravity anomalies

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Pilbara and SE Yilgarn lithium tenements

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• Woomera acquired 100% of the issued capital in Volt Lithium Pty Ltd and Liquid Lithium Pty Ltd upon listing.

• Assets - 10 lithium tenements and tenement applications in WA

• Pilgangoora province hosts several major hard rock lithium deposits

• Ravensthorpe tenements close to the Mt Cattlin lithium-tantalum mine with resources of 16Mt @ 1.08% Li2O and 149 ppm Ta2O5 (Source: Galaxy Resources Annual Report 2016)

• Cowan tenement close to Bald Hill lithium-tantalum mine which has an Indicated and Inferred Mineral Resource of 18.9Mt at 1.18% Li O and 2

• 149ppm Ta2O5 at a 0.5% Li2O cut-off (Source: Tawana Resources Limited website).

• Tenements on lakes Tay, Sharpe, Dundas and Lake Dumbleyung

• WML has applied for additional tenements at Cowan and Mt Cattlin

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Pilbara hard-rock lithium tenements

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Pilgangoora area one of the World’s largest pegmatite-hosted lithium provinces

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Model for LCT pegmatites

• The main target for exploration are LCT (lithium-caesium-tantalum) pegmatites

• LCT pegmatites form distal from the granite plutons

• Potential also exists for lithium mica enrichment to occur in greisenised granite

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TMI data

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TMI image showing potential pegmatite locations

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E 45/4790 and E 45/4796 previous exploration

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Lithium in reconnaissance soil and stream sediment sampling in and around WML tenements

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Surface geology

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Soils and rock chip sample locations

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Granite and pegmatite variants

Carlindi granite

Quartz pegmatite

Quartz-feldspar pegmatite

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Quartz-feldspar-muscovite pegmatite

Albite-tourmaline? pegmatite

Poocatchie monzogranite

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E 45/4790 and E 45/4796 Niton XRF Cs and Nb in soils

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Mount Cattlin hard-rock lithium prospect

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Mount Cattlin tenements and tenement application E74/632 with geology

• In the same volcanic province that hosts the Mount Cattlin spodumene mine owned by Galaxy Lithium Australia Ltd

• Mt Cattlin deposit 16Mt @ 1.08% Li2O and 149 ppm Ta2O5 (Source: Galaxy Resources Annual Report 2016)

• Cross cutting faults and shear zone similar to Mt Cattlin

• E74/599 mostly cropped. Landowners to be contacted regarding auger soil sampling program once harvest gathered.

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Cowan hard-rock lithium prospect

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Location of WML’s existing E15/1532 and the tenement application E15/1652 relative to prospective geology

• Locally, Archean granitic rocks are dominated by massive to moderately foliated monzogranites.

• The Bald Hill lithiumtantalum mine located 15 kms east of E15/1562 has an Indicated and Inferred Mineral Resource of 18.9Mt at 1.18% Li2O and 149ppm Ta O O cut-off 2 5 at a 0.5% Li2

• (Source: Tawana Resources Limited website).

• Given the proximity to Bald Hill and references by GSWA (2008) to abundance of pegmatite dykes, WML considers there is good potential for pegmatite hosted mineralisation.

• In discussions with the Ngadju Native Title Corporation

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Lake Dundas lithium prospect

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Lake Dundas lithium soil anomaly from AngloGold Ashanti Australia Ltd auger drilling

• Lake Dundas tenement first applied for by Liquid Lithium Pty Ltd based on the potential for lithium brines from work conducted by Geoscience Australia. Lake Dundas has one of the highest lithium concentrations (93-149ppm) in Australia.

• Open File information identified a significant lithium-beryllium anomaly (peak values of 71.4 ppm lithium and 4.4 ppm beryllium) adjacent to and within Woomera’s EL63/1804.

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Lithium brine prospects – Lake’s Tay and Sharpe

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• Potential lithium brine and potash target

• Identified by Geoscience Australia as having Li-B-K potential

• Lithium ~ 50x sea water

• Strong K-U-Th anomaly in northern part of Lake Tay

• Previous explorers targeted Cu-Ni-Au only

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Lithium brine prospect – Lake Dumbleyung

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E 70/4870 geological setting showing igneous source rocks suitable for Li-K concentration

• Lake Dumbleyung is WA’s largest permanent lake and is covered by multiple levels of environmental protection

• WML reviewing whether to advance the tenement application to grant

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Woomera Mining Limited summary

• ✓ Large tenure within the Gawler Craton and Musgrave Province

✓ 632 km[2] under tenure in proven lithium provinces

✓ Innovative application of VRMI to base metals exploration ✓ Multiple exploration targets in the Musgraves

• ✓ IOCG exploration targets within Gawler Craton – Carulinia, Nawa and a magmatic copper-gold-REE target at Labryinth. Currently negotiating access.

✓ Strong long-term fundamentals for Ni, Cu, Co, Li, Au and PGE

✓ Exceptional demand for lithium and cobalt

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E 45/4790

JORC Code 2012 Edition – Table 1

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria	JORC Code explanation	Commentary
Sampling	• Nature and quality of sampling (eg cut channels, random chips, or	•The results in this report relate to reconnaissance soil sampling
techniques	specific specialised industry standard measurement tools appropriate	and rock chip sampling over E 45/4790 and the adjoining E
	to the minerals under investigation, such as down hole gamma	45/4796 conducted during November 2018 by Woomera Mining
	sondes, or handheld XRF instruments, etc). These examples should	Limited.
	not be taken as limiting the broad meaning of sampling.
	• Include reference to measures taken to ensure sample representivity
	and the appropriate calibration of any measurement tools or systems	•Soil samples were analysed after collection using a portable XRF
	used.	analyser then sent to an independent laboratory for definitive
	• Aspects of the determination of mineralisation that are Material to the	analysis. The rock chip samples were either taken by breaking
	Public Report.	outcrop with a hammer or by gathering small rock fragments from
	• In cases where ‘industry standard’ work has been done this would be	pavement outcrop of pegmatite.
	relatively simple (eg ‘reverse circulation drilling was used to obtain 1	•Samples were taken from a shallow holes hand dug to depths of
	m samples from which 3 kg was pulverised to produce a 30 g charge	10-30cm and taken on a nominal 400m grid pattern. Samples
	for fire assay’). In other cases more explanation may be required,	comprised of soil with some containing small rock fragments. No
	such as where there is coarse gold that has inherent sampling	sieving was undertaken.
	problems. 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	•No drilling undertaken.
techniques	blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple
	or standard tube, depth of diamond tails, face-sampling bit or other
	_type, whether core is oriented and ifso, by what method, etc). _
Drill sample	• Method of recording and assessing core and chip sample recoveries	•No drilling undertaken.
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/gainof fine/coarse material.
Logging	• Whether core and chip samples have been geologically and	•A brief description of the soil characteristics was noted as was the
	geotechnically logged to a level of detail to support appropriate

1

Criteria	JORC Code explanation	Commentary	Commentary
	Mineral Resource estimation, mining studies and metallurgical		nature of the rock chip samples.
	studies.
	• Whether logging is qualitative or quantitative in nature. Core (or
	costean, channel, etc) photography.	•	Sample logging was predominantly qualitative in nature.
	• _The total length and percentage of the relevant intersections logged. _
Sub-sampling	• If core, whether cut or sawn and whether quarter, half or all core	•	No core drilling was undertaken
techniques and sample	taken. • If non-core, whether riffled, tube sampled, rotary split, etc and	•	No drilling undertaken.
preparation	whether sampled wet or dry.
	• For all sample types, the nature, quality and appropriateness of the sample preparation technique. • Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. • Measures taken to ensure that the sampling is representative of the in	• •	Samples comprised a soil sample weighing approximately 500 grams and rock chip samples of the same approximate weight. Soil samples were collected and bagged and later analysed using a portable XRF analyser for a range of chalcophile and lithophile
	situ material collected, including for instance results for field		elements and compounds. Rock chip samples were not analysed
	duplicate/second-half sampling.		with the portable XRF. Both soil samples and rock chip samples
	• Whether sample sizes are appropriate to the grain size of the material		were sent to an independent laboratory for analysis.
	being sampled.	•	Samples were recovered from depths of between 10-30cm
			depending on compactness of the soil profile.
		•	The samples are considered appropriate for the reconnaissance
			nature of the program for lithium pegmatite mineralisation.
Quality of	• The nature, quality and appropriateness of the assaying and	•	The samples were analysed using a portable XRF analyser before
assay data	laboratory procedures used and whether the technique is considered		being sent to an independent laboratory for definitive analysis.
and	partial or total.	•	The XRF analyser used was a Niton INNOVEX.
laboratory tests	• For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. • Nature of quality control procedures adopted (eg standards, blanks,	• •	The ‘Test All Geo’ (mode) combined filter method was used for a duration of 60 seconds. In batch OREAS standards; 23a, 45d, and SiO2(blank) were conducted at an average of between 1:25-30 soil analyses.
	duplicates, external laboratory checks) and whether acceptable levels	•	A total of 2 field duplicates where analysed.
	of accuracy (ie lack of bias) and precision have been established.
Verification of	• The verification of significant intersections by either independent or	•	Sampling carried out by Woomera Mining Limited personnel.
sampling and	alternative company personnel.
assaying	• The use of twinned holes.	•	No drillingundertaken.

2

Criteria	JORC Code explanation	Commentary
	• Documentation of primary data, data entry procedures, data	•Prepopulated soil sampling sheet was corrected for location where
	verification, data storage (physical and electronic) protocols.	it was estimated that actual location was different to planned by +/-
	• Discuss any adjustment to assay data.	10 in Easting and or Northing (GDA94, Zone 50).
		•Rock chip location was noted in field note book, which recorded
		sample note of the sample, as well as a written record of GPS
		waypoint. Note book and digital GPS waypoint location were
		collated in office after program completion.
		•No adjustment was made to the analytical results.
Location of	• Accuracy and quality of surveys used to locate drill holes (collar and	•All sample locations were derived from hand held Garmin Oregon
data points	down-hole surveys), trenches, mine workings and other locations	500t and are accurate to ± 5m.
	used in Mineral Resource estimation.	•GDA94 Zone 50.
	• Specification of the grid system used.
	• Quality and adequacy of topographic control.
Data spacing	• Data spacing for reporting of Exploration Results.	•Samples were collected on a nominal 400m grid.
and	• Whether the data spacing and distribution is sufficient to establish the	•A total of 110 soil samples and 41 rock chip samples were
distribution	degree of geological and grade continuity appropriate for the Mineral	collected on EL 45/4790.
	Resource and Ore Reserve estimation procedure(s) and	•Sampling is not of the type or density to support the determination
	classifications applied.	of a resource. The sampling was reconnaissance in nature and
	• Whether sample compositing has been applied.	results will be used to design future exploration sampling programs
		aimed at location lithium-bearing pegmatite.
		•No sample compositing was applied.
Orientation of	• Whether the orientation of sampling achieves unbiased sampling of	•Samples were collected on an equilateral 400m grid. Rock chip
data in	possible structures and the extent to which this is known, considering	samples were taken on pavement outcrop of pegmatite.
relation to	the deposit type.
geological	• If the relationship between the drilling orientation and the orientation
structure	of key mineralised structures is considered to have introduced a	•Sampling orientation is not expected to contribute to sampling
	sampling bias, this should be assessed and reported if material.	bias.
Sample	• The measures taken to ensure sample security.	•Samples were collected by Woomera Mining Limited personnel.
security		Field staff transported the samples to a trucking contractor located
		in Port Hedland for transport to the Perth laboratory for analysis.
Audits or	• The results of any audits or reviews of sampling techniques and data.	•No audits were undertaken. Woomera personnel have reviewed
reviews		the data and consider it appropriate for the mineralisation style and
		sampling type.

3

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code explanation	Commentary	Commentary
Mineral	• Type, reference name/number, location and ownership including	•	The soil sampling was carried out on E 45/4790 which is 100%
tenement and	agreements or material issues with third parties such as joint		owned by Volt Lithium Pty Ltd, a wholly owned subsidiary of
land tenure	ventures, partnerships, overriding royalties, native title interests,		Woomera Mining Limited.
status	historical sites, wilderness or national park and environmental
	settings.
	• The security of the tenure held at the time of reporting along with any	•	Tenure is in good standing.
	_known impediments to obtaining a licence to operate inthe area. _
Exploration	• Acknowledgment and appraisal of exploration by other parties.	•	E 45/4790 has had limited reconnaissance soil sampling and
done by other			stream sediment sampling completed by Fortescue Metals Group.
parties			A total of 59 stream sediment samples were collected by FMG,
			which were analysed for:
			Ag,Al,As,Au,Ba,Be,Bi,B,Ca,Cd,Ce,Co,Cr,Cs,Cu,Dy,Fe,Ga,Gd,Ge,
			Hf,Ho,In,La,Li,Lu,Mg,Mn,Mo,Na,Nb,Nd,Ni,Pb,Pr,P,Rb,Re,Sb,Sc,S
			e,Si,Sm,Sn,Sr,S,Ta,Tb,Te,Th,Ti,Tl,Tm,U,V,W,Yb,Y, Zn, and Zr.
Geology	• Deposit type, geological setting and style of mineralisation.	•	The deposit style being targeted is lithium-caesium-tantalum
			pegmatite dykes.
Drill hole	• A summary of all information material to the understanding of the	•	No drilling was undertaken.
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,	•	Samples relate to single point soil samples taken at depths of 10-
aggregation	maximum and/or minimum grade truncations (eg cutting of high		30cm. No weighting averaging or cutting of results was done.
methods	grades) and cut-off grades are usually Material and should be stated.	•	All samples were single point samples and there was no
	• Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of lowgrade results, theprocedure used		aggregation of results.

4

Criteria	JORC Code explanation	Commentary	Commentary
	for such aggregation should be stated and some typical examples of
	such aggregations should be shown in detail. • The assumptions used for any reporting of metal equivalent values	•	No metal equivalent values were calculated.
	_should be clearly stated. _
Relationship	• These relationships are particularly important in the reporting of	•	Unknown at this stage.
between	Exploration Results.
mineralisation	• If the geometry of the mineralisation with respect to the drill hole
widths and	angle is known, its nature should be reported.
intercept lengths	• If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true	•	Samples are single point soil samples.
	_width not known’). _
Diagrams	• Appropriate maps and sections (with scales) and tabulations of	•	Plans of the sampling locations and a table of results is included in
	intercepts should be included for any significant discovery being		the accompanying report.
	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 report includes defined levels for anomalous results.
reporting	practicable, representative reporting of both low and high grades
	and/or widths should be practiced to avoid misleading reporting of
	_Exploration Results. _
Other	• Other exploration data, if meaningful and material, should be reported	•	No other exploration data is considered meaningful or material.
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	•	The sampling program was reconnaissance in nature. Geological
	extensions or depth extensions or large-scale step-out drilling).		mapping identified sub-cropping pegmatite dykes either as quartz
	• Diagrams clearly highlighting the areas of possible extensions,		pegmatite, quartz-feldspar pegmatite, quartz-feldspar-muscovite
	including the main geological interpretations and future drilling areas,		pegmatite and quartz-feldspar-muscovite-iron pegmatite. Much of
	provided this information is not commercially sensitive.		the tenement is covered with soil/colluvium or is otherwise
			generalised as being regolith.

5

E 45/4796

JORC Code 2012 Edition – Table 1

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria	JORC Code explanation	Commentary
Sampling	• Nature and quality of sampling (eg cut channels, random chips, or	•The results in this report relate to reconnaissance soil sampling
techniques	specific specialised industry standard measurement tools appropriate	over E 45/4796 and the adjoining E 45/4790 conducted during
	to the minerals under investigation, such as down hole gamma	November 2018 by Woomera Mining Limited.
	sondes, or handheld XRF instruments, etc). These examples should
	not be taken as limiting the broad meaning of sampling.
	• Include reference to measures taken to ensure sample representivity	•Soil samples were analysed after collection using a portable XRF
	and the appropriate calibration of any measurement tools or systems	analyser then sent to an independent laboratory for definitive
	used.	analysis. The rock chip samples were either taken by breaking
	• Aspects of the determination of mineralisation that are Material to the	outcrop with a hammer or by gathering small rock fragments from
	Public Report.	pavement outcrop of pegmatite.
	• In cases where ‘industry standard’ work has been done this would be	•Samples were taken from a shallow holes hand dug to depths of
	relatively simple (eg ‘reverse circulation drilling was used to obtain 1	10-30cm and taken on a nominal 400m grid pattern. Samples
	m samples from which 3 kg was pulverised to produce a 30 g charge	comprised of soil with some containing small rock fragments. No
	for fire assay’). In other cases more explanation may be required,	sieving was undertaken.
	such as where there is coarse gold that has inherent sampling
	problems. 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	•No drilling undertaken.
techniques	blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple
	or standard tube, depth of diamond tails, face-sampling bit or other
	_type, whether core is oriented and ifso, by what method, etc). _
Drill sample	• Method of recording and assessing core and chip sample recoveries	•No drilling undertaken.
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/gainof fine/coarse material.
Logging	• Whether core and chip samples have been geologically and	•A brief description of the soil characteristics was noted as was the

6

Criteria	JORC Code explanation	Commentary	Commentary
	geotechnically logged to a level of detail to support appropriate		nature of the rock chip samples.
	Mineral Resource estimation, mining studies and metallurgical
	studies.
	• Whether logging is qualitative or quantitative in nature. Core (or	•	Sample logging was predominantly qualitative in nature.
	costean, channel, etc) photography.
	• _The total length and percentage of the relevant intersections logged. _
Sub-sampling	• If core, whether cut or sawn and whether quarter, half or all core	•	No core drilling was undertaken.
techniques and sample	taken. • If non-core, whether riffled, tube sampled, rotary split, etc and	•	No drilling undertaken.
preparation	whether sampled wet or dry.
	• For all sample types, the nature, quality and appropriateness of the	•	Samples comprised a soil sample weighing approximately 500
	sample preparation technique.		grams and rock chip samples of the same approximate weight.
	• Quality control procedures adopted for all sub-sampling stages to	•	Soil samples were collected and bagged and later analysed using
	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.	•	a portable XRF analyser for a range of chalcophile and lithophile elements and compounds. Rock chip samples were not analysed with the portable XRF. Both soil samples and rock chip samples were sent to an independent laboratory for analysis. Samples were recovered from depths of between 10-30cm
			depending on compactness of the soil profile.
		•	The samples are considered appropriate for the reconnaissance
			nature of the program for lithium pegmatite mineralisation
Quality of	• The nature, quality and appropriateness of the assaying and	•	The samples were analysed using a portable XFF analyser before
assay data	laboratory procedures used and whether the technique is considered		being sent to an independent laboratory for definitive analysis.
and	partial or total.	•	The XRF analyser used was a Niton INNOVEX.
laboratory tests	• For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. • Nature of quality control procedures adopted (eg standards, blanks,	• •	The ‘Test All Geo’ (mode) combined filter method was used for a duration of 60 seconds. In batch OREAS standards; 23a, 45d, and SiO2(blank) were conducted at an average of between 1:25-30 soil analyses.
	duplicates, external laboratory checks) and whether acceptable levels	•	A total of 2 field duplicates where analysed.
	_of accuracy (ie lack of bias) and precision have been established. _
Verification of	• The verification of significant intersections by either independent or	•	Sampling carried out by Woomera Mining Limited personnel.
sampling and	alternative company personnel.
assaying	• The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.	• •	No drilling undertaken. Prepopulated soil sampling sheet was corrected for location where itwas estimated that actual location was different to planned by+/-

7

Criteria	JORC Code explanation	Commentary
	• Discuss any adjustment to assay data.	10 in Easting and or Northing (GDA94, Zone 50).
		•Rock chip location was noted in field note book, which recorded
		sample note of the sample, as well as a written record of GPS
		waypoint. Note book and digital GPS waypoint location were
		collated in office after program completion.
		•No adjustment was made to the analytical results.
Location of	• Accuracy and quality of surveys used to locate drill holes (collar and	•All sample locations were derived from hand held Garmin Oregon
data points	down-hole surveys), trenches, mine workings and other locations	500t and are accurate to ± 5m.
	used in Mineral Resource estimation.	•GDA94 Zone 50.
	• Specification of the grid system used.
	• Quality and adequacy of topographic control.
Data spacing	• Data spacing for reporting of Exploration Results.	•Samples were collected on a nominal 400m grid.
and	• Whether the data spacing and distribution is sufficient to establish the	•A total of 36 soil samples and 5 rock chip samples were collected
distribution	degree of geological and grade continuity appropriate for the Mineral	on EL 45/4796.
	Resource and Ore Reserve estimation procedure(s) and	•Sampling is not of the type or density to support the determination
	classifications applied.	of a resource. The sampling was reconnaissance in nature and
	• Whether sample compositing has been applied.	results will be used to design future exploration sampling programs
		aimed at location lithium-bearing pegmatite.
		•No sample compositing was applied.
Orientation of	• Whether the orientation of sampling achieves unbiased sampling of	•Soil samples were collected on an equilateral 400m grid. Rock
data in	possible structures and the extent to which this is known, considering	chip samples were taken where pavement outcrops of pegmatite
relation to	the deposit type.	occurred.
geological	• If the relationship between the drilling orientation and the orientation
structure	of key mineralised structures is considered to have introduced a
	sampling bias, this should be assessed and reported if material.	•Sampling orientation is not expected to contribute to sampling
		bias.
Sample	• The measures taken to ensure sample security.	•Samples were collected by Woomera Mining Limited personnel.
security		Field staff transported the samples to a trucking contractor for
		transport to the Perth laboratory for analysis.
Audits or	• The results of any audits or reviews of sampling techniques and data.	•No audits were undertaken. Woomera personnel have reviewed
reviews		the data and consider it appropriate for the mineralisation style and
		sampling type.

8

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code explanation	Commentary	Commentary
Mineral	• Type, reference name/number, location and ownership including	•	The soil sampling was carried out on E 45/4796 which is 100%
tenement and	agreements or material issues with third parties such as joint		owned by Volt Lithium Pty Ltd, a wholly owned subsidiary of
land tenure	ventures, partnerships, overriding royalties, native title interests,		Woomera Mining Limited.
status	historical sites, wilderness or national park and environmental
	settings.
	• The security of the tenure held at the time of reporting along with any	•	Tenure is in good standing.
	_known impediments to obtaining a licence to operate inthe area. _
Exploration	• Acknowledgment and appraisal of exploration by other parties.	•	E 45/4796 has had limited reconnaissance soil sampling and
done by other			stream sediment sampling completed by Fortescue Metals Group.
parties			A total of 8 stream sediment samples, and 8 soil samples were
			collected by FMG, which were analysed for:
			Ag,Al,As,Au,Ba,Be,Bi,B,Ca,Cd,Ce,Co,Cr,Cs,Cu,Dy,Fe,Ga,Gd,Ge,
			Hf,Ho,In,La,Li,Lu,Mg,Mn,Mo,Na,Nb,Nd,Ni,Pb,Pr,P,Rb,Re,Sb,Sc,S
			e,Si,Sm,Sn,Sr,S,Ta,Tb,Te,Th,Ti,Tl,Tm,U,V,W,Yb,Y, Zn, and Zr..
Geology	• Deposit type, geological setting and style of mineralisation.	•	The deposit style being targeted is lithium-caesium-tantalum
			pegmatite.
Drill hole	• A summary of all information material to the understanding of the	•	No drilling was undertaken.
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,	•	Samples relate to single point soil samples taken at depths of 20-
aggregation	maximum and/or minimum grade truncations (eg cutting of high		30cm. No weighting averaging or cutting of results was done.
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	•	All samples were singlepoint samples and no aggregation of

9

Criteria	JORC Code explanation	Commentary	Commentary
	for such aggregation should be stated and some typical examples of		results was done.
	such aggregations should be shown in detail.
	• The assumptions used for any reporting of metal equivalent values should be clearly stated.	•	No metal equivalent values were calculated.
Relationship	• These relationships are particularly important in the reporting of	•	Unknown at this stage.
between	Exploration Results.
mineralisation	• If the geometry of the mineralisation with respect to the drill hole
widths and	angle is known, its nature should be reported.
intercept lengths	• If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true	•	Samples are single point soil samples.
	_width not known’). _
Diagrams	• Appropriate maps and sections (with scales) and tabulations of	•	Plans of the sampling locations and a table of results is included in
	intercepts should be included for any significant discovery being		the accompanying report.
	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 report includes defined levels for anomalous results.
reporting	practicable, representative reporting of both low and high grades
	and/or widths should be practiced to avoid misleading reporting of
	_Exploration Results. _
Other	• Other exploration data, if meaningful and material, should be reported	•	No other exploration data is considered meaningful or material.
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	•	The sampling program was reconnaissance in nature. Geological
	extensions or depth extensions or large-scale step-out drilling).		mapping identified sub-cropping pegmatite dykes either as quartz
	• Diagrams clearly highlighting the areas of possible extensions,		pegmatite, quartz-feldspar pegmatite, quartz-feldspar-muscovite
	including the main geological interpretations and future drilling areas,		pegmatite and quartz-feldspar-muscovite-iron pegmatite. Much of
	provided this information is not commercially sensitive.		the tenement is covered with soil/colluvium or is otherwise
			generalised as being regolith.

10