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PROSPECT RESOURCES LIMITED Regulatory Filings 2017

Oct 22, 2017

65617_rns_2017-10-22_670fe475-09c6-4c94-b84e-cdf3a6d5ce12.pdf

Regulatory Filings

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PROSPECT ANNOUNCES DISCOVERY OF NEW MINERALISED ZONE DURING PHASE 5 DRILLING

Arcadia is the largest JORC Code reported lithium deposit in Africa – comprising 755 000t contained lithium oxide (over 1 850 000t contained lithium carbonate equivalent – LCE)

Highlights:

  • Delineation of new mineralised zone; the Basal Pegmatite
  • Average grade of 1.29% Li20 over 16.8m, with peak grade of 4.06% Li20
    • Notable high grade intercepts of:
      • o 3.40% Li20 over 5m
      • o 2.45% Li20 over 10m
      • o 2.54% Li20 over 8m
    • Covers an area of at least 35 hectares.

Prospect Resources Ltd (ASX: PSC) (the "Company") is pleased to announce the delineation of a new mineralised zone; the Basal Pegmatite (BP).

This mineralised zone, which was originally thought to be in part, a down-faulted part of the Lower Main Pegmatite (LMP) has now been explored more thoroughly during the recent Phase 5 RC drilling.

The Basal Pegmatite (BP) has been intersected in a total of twelve Phase 5 drill holes and covers an area of at least 35 hectares on the south west edge of the planned pit. The average grade for all 21 BP intercepts in this and the previous phases of drilling is 1.29% Li2O over 16.8m.

This mineralised body lies some 34 – 40m below the Lower Main Pegmatite.

The total defined volume of the BP is 6 million cubic metres, and upgrading this zone to at least an Indicated Mineral Resource category will be the focus of the planned Phase 6 RC drilling programme.

Prospect Resources Limited | ACN 124 354 329

Suite 6, 245 Churchill Ave. Subiaco WA 6008 | Phone: +61 8 9217 3300 | Email: [email protected]

From Thickness Grade
Hole Unit (m) To (m) m % Li2O
ACR168 Basal Pegmatite 95.0 108.0 13.00 1.30
includes 95.0 100.0 5.00 3.40
ACR169 Basal Pegmatite 106.0 122.0 16.00 1.14
includes 106.0 113.0 7.00 2.02
ACR172 Basal Pegmatite 79.0 100.0 21.00 1.39
includes 91.0 100.0 9.00 1.66
ACR174 Basal Pegmatite 70.0 89.0 19.00 1.77
includes 80.0 89.0 9.00 2.13
ACR176 Basal Pegmatite 63.0 81.0 18.00 1.76
includes 63.0 73.0 10.00 2.45
ACR177 Basal Pegmatite 46.0 49.0 3.00 1.26
ACR179 Basal Pegmatite 122.0 138.0 16.00 0.05
ACR184 Basal Pegmatite 91.0 116.0 25.00 1.69
includes 107.0 113.0 6.00 2.56
ACR185 Basal Pegmatite 85.0 110.0 25.00 0.90
includes 105.0 109.0 4.00 1.55
ACR186 Basal Pegmatite 71.0 93.0 25.00 0.90
includes 85.0 93.0 8.00 1.28
ACR187 Basal Pegmatite 102.0 131.0 29.00 1.67
includes 102.0 110.0 8.00 2.54
ACR188 Basal Pegmatite 88.0 108.0 20.00 1.60
includes 88.0 97.0 6.00 2.10

Table 1- Basal Pegmatite Intercepts in Phase 5 RC Holes

In response to the new discovery, Mr Hugh Warner (Chairman) had the following to say: "Since completion of the PFS, our drilling programme has been focussed, primarily, on upgrading the mineral resource categories to feed into our pit optimisation studies, after which we plan to update our Ore Reserves. However, our exploration team has not lost sight of the fact that there is still much to learn about the size of the Arcadia lithium pegmatite and this new discovery confirms that conviction"

Suite 6, 245 Churchill Ave. Subiaco WA 6008 | Phone: +61 8 9217 3300 | Email: [email protected]

Figure 1- Relationship of Phase 5 RC Holes, current Resource Categories and Planned Pits

Figure 2

Prospect Resources Limited | ACN 124 354 329 Suite 6, 245 Churchill Ave. Subiaco WA 6008 | Phone: +61 8 9217 3300 | Email: [email protected] W: prospectresources.com.au Page 3 of 4

For further information, please contact:

Hugh Warner Harry Greaves Prospect Resources Prospect Resources Executive Chairman Executive Director

Ph: +61 413 621 652 Ph: +263 772 144 669

Competent Person's Statement

The information in this announcement that relates to Exploration Targets and Exploration Results, is based on information compiled by Mr Roger Tyler, a Competent Person who is a member of The Australasian Institute of Mining and Metallurgy and The South African Institute of Mining and Metallurgy. Mr Tyler is the Company's Senior Geologist. Mr Tyler 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 "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Tyler consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The information in this announcement that relates to Mineral Resources is based on information compiled by or under the supervision of Ms Gayle Hanssen of Digital Mining Services, Harare Zimbabwe. Ms Hanssen is registered as Professional Scientist with the South African Council for Professional Natural Scientific Professions (SACNASP) which is a Recognised Professional Organisation (RPO). Ms Hanssen is employed by DMS and has sufficient experience which is relevant to the styles of mineralisation and types of deposit under consideration and to the activity which she is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Mineral Resources. Ms Hanssen consents to the inclusion in the report of the matters based on her information in the form and context in which it appears.

JORC Code, 2012 Edition – Table 1 report template

Section 1 Sampling Techniques and Data

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

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Auditsoriewrevs f af sTheldiiewlinghniqddatststecta.resuonyaorres oampues anuv• helellydldTReCPMsGaHaisinuiingingttsourcenssenconaausampan•ylogingicetgpracs.

Section 2 Reporting of Exploration Results

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

Criiater JORCCodelaniotexpan Cotammenry
Minelradtent aemennlandtenuretatuss Tyfer/nbelociond ohipincludingtpe,reencenameumr,aanwners•ialissihhird piesh ajintsterttttagreemenormaues warsucsohipidingliesiveileinturtnettttterts,venesparrss,overrroyanaes,,hisical siildeionl pk ad eiroltortesttawrness or naaarnnvnmen,ingttses.Theifheheld aheimf ringlonih atyttentttttsecurouree oeporagwny•knimdimbiningliceinhetstotatotetownpeenoanceoperaarea. diadiadiadiadiadiaddiaArV,ArH,ArI,ArL,Ar2V,ArTrArLcacacacacacaanca•laheldbyd,hhdbyimExaixInv(Pv)Limiicis70%tmtsttecs,mesenownewd30%bylocl pProRettnespecsourcesanaarrs.irol olandileissimdimificaf alNoEIAtattts.tteenvnmenrues orpeenceropprova•dbyhelll ofheEniroMaAgtettattotgrannmennagemenency,coverav's elorioniviiestttcompanyxpaaclfarland –fallowffecivelydefunialfarRutt cramecommercm.•,
Exloriontpadobyhetneoriestpar f eAcknledgd aisal olorionbyheiest atttowmennppraxpaor par• dsfhldrlldohreholesdrlledTwisicaiingTEXTiin1969too rounorereneeere•wwfroffih sheGelogicalSuimbabwheihehisicZttttttettowuppormorveyoe,asorihelogilable,dhelihologiesbsdisihTt.tttent wtpses areavaanoerveareconshabydrllProRe'iingtt steenspecsourcesheif alea10ioulydrilledQizedboholeshalsobeTNtesttsosprevssreveaen•ideifiedinhefield.hedeiled rdsfhis phabelosTButttatt.tnecororogrammeveenhekdoinhela1970'sbyRadMinededbyheGelogicaltttetornens,was recorowinheir1bullein,heimf1is rded.Su989Ha8Mttttetrveyrarewreanesaoecor
Gelogoy Deilogical singd slef minelisaionttytttytpospe,geoeanora• hedeiisebef pihodinbalfheTt cttesteta-tstposomprs anumr oegmasmesao•hhelArFoioniinHaGrBeturttttot.cusrmarareeensnewheibelonhelibclasfhelemiTPeRaEttestottatett pttepegmagsus ore-enegma•deilasdbelonheifamily.LCT pt ctottteposs angegmahelydelydbullyTi(icattestotett strpegmaarepoomorazonenommeor•ryicallyddhaheinlihiumbeing).Ttrtztasymmezoneanvenoquarcoremaarinelsdoinalylidduih sb-odinaittatettette,mraaremnpeanspomenewureucryp,bikiidinolepidoliInddiiondissinadliistate,te.ttetantatet.anmaempresenr,inels alkalifeldsd miGatz,te.nguemrarequaraparsanuscovhekeddhehwTii045° aip10°ttestrttottt.pegmasnanores•
DrillholeInforiontma Af allinforionialhededingfhettertottantsummaryomamaunrso•lorionlincludingbulaionfhefollowinginforionttstatttexparesuaomaforllMaialdrillholestera:ingd nhingfhedrillholellarttteasanorocoo(levionRLRedudLel –levionbolevlintteaorceveeaaveseaeo SeApdixIepen•
Criteiar OCCoJRdelantioexpan Cotammenry
)fhedrillholellartertmesocofdipd aimhheholettanozuodoholelenh adiniondehtterttwngnceppoholelenh.tgoffforfIhelusionhisinionisjiied ohebaishahettttttttexcomausns•inforionisMaial adhislusiondodefrotttertttratmanonexcesnocmfCohededinghehePehold clealyttantt,ttentnrsorepormperson sruulainhyhisishettexpwcase
Dataiontaggregahodstme IningExlorionRelighinginghniqttts,ttecreporpasueaveragues,w•imd/oinimdeion(ingfhightrutttmaxumanr mumgrancasegcuo)ff gded cdellyMaial ad sholdbed.t-otertategrasanras areusuansuufWheinincholenhshigh gdetetertstettreaggregaceporporasrgora•ldlonlenhsflowdelhedudtstts,tresuangergograresuprocereuseforfh aionholdbed ad sical elesttatetysucggregasusnomepxampoh aionholdbehoindeil.ttasucggregas suswnTheiondforingf ml eivalenluetttat vassumps useanyreporoequas•holdbelealyd.tatescrsu holeddoholelenhhdBoinioningigterttetteresecswerereporuswngwe•inghodsiminimdeiond.heNoTttrutaveragmemaxumormumgrancas wereuseinelisaionis cinedihinheittratottttesmraonswpegmaffFohisMinelReimimdeingttte,twttest orasource esao esaeremaone usacu•rw,defheisicallydeined0.2i2O,dding%Lttatttergraosmanaseconusamorelisic miningff,fi21%LO.tt oreacuo
Relaionhiptsbetweeninelisaiontmraidhsdtwanintertceplenhstg fThelaionhipicularlyiminheingtttantttseress areparporreporo•ExlorionReltts.pasuIfhefheinelisaionih rhedrillholettrytttttotgeomeomrawespec•leiskniholdbed.tsturteangown,nae sreporufIiisknd olyhedoholelenhsd,hetttttetnoown annwngarereporre•holdbeleahisffec('doholelenh,tatemttottttrusuacr seneegwnge').idh nknttwoown lldrllholesdrlled wh ah ofhedf allheholesAiiiim135°.Tipis -80°,ttteren ao•wzulandinheidicularly.toterttttespnesecpegmaperpenirllyllholesindheiland,hohheiVtuatertetttesttttesasecpegmaaspneugpegma•furdobidinhicknThekablylileltettttruturcaanvaessreareemarscaryrlicaioninheiesf nhehwikingfaulheAtttt –tt strtsttcompsareaseroorassouescubodybuihliledisplact wttttt.oreapparenemen,fauforTheNNEdingMahoikalhichheivelleyhetret zttotnsnganone wmsayrr v•fhelandihaldinblocksfinibeingMaPet ott pt,tetteeascurrenneps resuogmadofauld ad pdfroioniled alyis ofheli-elemDetetatttwnnreservemerosnasmuenfauheisisdebuihahislhadtrytt atttt ztuategeocmunrwayppearsones accen,ficial gheicalleahingf cinfhelemincludinglihiumtatts;tsureocmcoeroeen
Diagrams Apiad sion(ih sles)dbulaionftetttatproprmaps anecscaans ow•inholdbeincludedforigificadiscbeingtertstcepsuanysnnoveryfdTheholdincludebubelimidlaniewtet nttetoreporsesoa pouv, d cionhedinhebodyfheMatttactttps anross secs areaorepor•
Criteiar JORCCodelantioexpan Cotammenry
Balandceingtrepor drillholellarlociond aiaionl viewttetcoas anpproprsecas.f aWheheiveingllExlorionRelistttstrecomprensreporopasuno•icable,iveingfbohlowdhigh gdettatttpracrepresenreporoanras/ofdidhsholdbeicedid misleadingingtttotanr wsupracavoreporoExlorionReltts.pasu TheCohall rlhabeddlyihtatestt atstetmpansesveeneporancomp•yurwbaland ringtceepor
Ohetrbsivetantsuloriontexpadata Oheloriondaif mingful ad mial,holdbedttta,terter expaeannasreporu•()includingbulimidlogical obsionhyicalt nttetoto: geoervas;geopslheical slbulk slesizedts;ts;surveresugeocmurveresuampsanyy–hod oflluricallbulkdeittretmt;tatest rts;ty,meaenmegesunsdwhnical ad rk chaisicsialtertecterttentgrounageonocracpo;,deleiouinaingbstertamttans or consuces. hal salinglsoied ohedjdoiioulyinedCt atttt pt,nnempacarruaacenrmanprevsm•heleshal saled adhad sledin1970sCoinu1mttnoussamperecnnempnnampwlonline2mheifacimly3kglesAptttteagcus,everyonpe.proxasampwerellecd,d ad afhingd millingimlabsALS aZAstettertcoanssayecrusanasays wereincdinheMRE.tetotorporalogical mingdekedo-dipdlonikefheidGetatrtt aoappwasunrnwnanagsopn•habedheincinMRE.tetottsenorporacurrenSoil slingienionlinehadudlihiumheical aliestattamporsveprocegeocmnoma•haincideih sb-oingjionfheitt cttcrttttesowuuoppproecs opegma
Fuhektrr wor Thed slef plandfurhek(forlalturtteststernae ancaoner worega•iondehionlarledrilling).tenttenteptexss orpexss orge-scas-ouDiaglealyhighlighinghef pibleiontttenramscrareasoossexss,•includingheinlogicaliniondfudrillingttertatturmageopres aneareas,idedhisinforionisiallyiivettt ctprovmanoommercsens helandhadrillingillinvlvedrillingimlyheTP625 x130mtetpnesewoapproxaon•ffdghelandMainPiThisisdell oheBaltertt.totwesneeopneupgraasaifroheinferd rindicad,haibedPettettotettt ctetogmamreesourcesoanconverreserves.

Section 3 Estimation and Reporting of Mineral Resources

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

Criteiar JORCCodelantioexpan Cotammenry
Dabataseinitegtyr Mkehadahabedbyfortatotttatteeasuresnensures noencorrup•,le,ipionkeingbeiiniial clleciontrattwtsttexampnscrorerrors,eenoydiforMinelReimiontsttanuserasourceesapurposesDalidaiondud.tatvaproceres use• N/a•
Siisitetsv CoiisidekebyheCoPedt otetstattentmmenn anysvunrnmperson an•fhehoisittcotts.ome oseuvIf niisihabedekeindicahyhisishetetstatetto sveennrncasevuw•
Gelogicaloiniontertatpre Cof(f)ideinly,heinhelogicalttatytnnceorconversencerogeou•inionfheineldeitertattt.preomraposNafhedad ad of aiondeturttate ousennyassumps ma•Theffecif af aliveinionMinelRet,terttertatenyonapres onrasource•,
Criteiar JORCCodelantioexpan Cotammenry
Dimionenss imionttesaf gTheloginidingd cllingMinelRetroseoeoganonrasourceuyu•imionttesaThefacffecinginuibohf gded glogtortttyts aconoraaneoy.•ThediabilifheMinelRed atent at•
tyexnvarorasourceexpresses(),lenhlonikeheiselanidh,ddehbelowttrtttgagsor orwpanpwfachedlowlimifheMinelRetottstsureupperanerorasource
Esimionttad mdellinganohniqtecues Thed aiafheimionhniq()turtenttttecnae anppropress oesaues•f elied adkeionincludingdettretmt otreappnassumps,aenme grayxluedoininginlaiond mimdisterttertanvas,mapoparames anaxumce,f efrof alaiondainIisd eimiontrattats.tertettopompocompasssaxuhodhoincludedeipionf cfdtttertwmewas csenascroompusoare and.terparames use
Theilabilif chek eimiouimd/oinetyttesttesavaocsaprevs esaanr m•,duiondsdheheheMinelReimketttttetaprocrecoranwrrasourceesasiaf shdatet ota.appropraccounucTheiondedingfbydutts.assumps maregarrecoveryo-proc•Esimionfdeleioulemhedeiablesftttertstaos eenoror non-gravaro•f(foricigiicalphuid minedrinaeconomsnnceegsracageuhaisaion).tertcracInhefblock mdelinlaionheblock sizeinlaiontterttttocaseoopore•,heleingdhehloyd.ttaverage sampspacansearcempe
Anionbehind mdellingf sleciveiningittts.assumpsooemnyu•Anionbolaionbeiablestt cttwassumps aorreeenvaryu•Deipionfhohelogicaliniondltttertattotroscrogeopreasseconwwu•heimtttesresourceesa
Discionfbaisforingingdeingingt uttussosusor nosgracuor capp•Thef vlidaionhehekingd,heisotttprocessoaccprocessusecomparn•,f mdeldadrillholedadf riliaiondaiftatota,ttaooanuse oeconcilable.ava
Misturoe Wheheheimd odrybaisih nltttonttetturrnagesareesan asorwaa•isdhehod ofdeinaionfheisturttterttturtent.moe,anmemomoe con
Cufft-oterparames Thebaisfhedod cff gde()littet-otytersoaprasorquaparamesu•lied.app
Miningfactorsor Asiondedingibleininghodsinimttsumps maregarpossmmemum•,iningdimiondinl(if alicable,l)iningtertermenss annaorppexnam,diluionIislwfhefdeiningttt otteraays necessaryasparprocessom
Criteiar JORCCodelantioexpan Cotammenry
iontassumps forblel eicionidetstuatrattoreasonaprospecevenconomexcconsrial mininghodsbuheiondedingtentttttpomeassumps maregar,ininghodsd pheimingMinelRetterttmmeanarames wnesarasourceslwbeigWhehisishehisholdbet atttmaynoaysrorous.recasesu,ffdih alanionhebaisheiningiontetttttreporwnexpaosomassumpsdema
Mlluricaltaegfactors oriontassumps Thebaisforiondiciondinglluricaltttasassumps or pres regarmeg•ffbiliIislwhety.tt otamenaaays necessaryasparprocessodeiningbleforl eiciontertstuatrattomreasonaprospecevenconomexcideial mllurical mhodsbuheiontenttattttconsr poegeassumps,dinglluricald pdetatretmt pterregarmegaenrocessesanarames maheingMinelRelwbeigtt awnreporrasources maynoaysrorous.Whehisishehisholdbedih alanionfttttettrecasesureporwnexpao,hebaisfhellurical aiondetttatsomegssumps ma
Enironmenvlfactators oriontassumps Asiondedingibled piduttesumps maregarposswasanrocessrese•displ oionIislwfhefttt otosaps.aays necessaryasparprocessodeiningbleforl eiciontertstuatrattomreasonaprospecevenconomexcideheial eirolimfheiningdttenttatstconsrponvnmenpacomaningionWhilehishedeinaionfttttagttertprocessoperaasemoial eirolimicularlyforfieldsjtenttats,tt,ponvnmenpacparagreenproeclwbell advd,hef elyideionft attatustmaynoaysweancesoarconsraoheial eirolimholdbed.Whettenttatsteseponvnmenpacsreporreuhehabeidedhisholdbedihttstttetseaspecvenoenconsresureporwlanionfheirol aiondetttatanexpaoenvnmenssumps ma
Bulkdeityns f aforWhehed odeined.Id,hebaishetterttr assumermssumes•ionIfdeined,hehodd,hehedryhettertttt otassumps.mmeusewr wer,frefheheizedtts,tturquencomeasuremennae,sanyivefhelestattrepresennessosampThebulkdeiforbulk mial mhabedbytytertnsausveenmeasure•for(hodshadelyid sittt atetty,mequaaccounopacesgs,porosvvu),isddifferbek ad aliontcturtwtertemoe anenceseenrocnazonesihinhedeittt.poswforDiscionbulkdeiimdinhettyttestuss assumpsnsesaseu•luaionfhedifferials.ttt mterevaprocessoena
Cflasiicaionts ThebaisforhelasificaionfheMinelReiningttttoscsorasourcesvary•fideiestegconnce caorf afac(Wheheiahabekell rleviettettattorr appropraccounsennoeans•laivefidein/gdeimionliabilifinpttontttytreconncenageraesas,reouff gdaideininuilogd ml vluelita,ttytaty,connceconoeoaneas,quay
Criteiar JORCCodelantioexpan Cotammenry
iddisibuionfheda).ttytrtttaquananoWhehehelialyflecheCoPe'sttt atetsttentrresupproprremperson•iewfhedeitt.vopos
Auditsoriewrevs Thelf adiiewfMinelReimtststtesresuonyauorrevs orasourceesa•
Discionfussolaivetre/accuracyfideconnce Wheiafhelaivedtetatemt ottreappropra senreaccuracyan•fidelevlinheMinelReiminghttteconnceerasourceesausan approacCoduded aiabyhePeFotettentorprocereemepproprmperson.rle,helicaionf sisical oisical pdutttatttatttoexampappor geosroceresifyhelaivefheihind cfidettttttatequanreaccuracyoresourcewsonncelimiif sh ahisded aialiivets,tte,tator,ucn approacnoemeppropraquadiscionfhefachald affechelaivedttortt ctttussosoureaccuracyanfidefheimttte.connce oesaThehold sifyheheilalobal olocltatemt stt rtestosenupecwregra•imd,iflocl,helevhich sholdbettestatetttonesaanasreannageswu,,levhnical ad eicluaionDoionholdttotecttatreannconomevacumensuincludeiondedhedud.ttassumps maanproceres useThef rlaived cfidefheimtatemtsttttesesenoeaccuracyanonnce oesa•holdbedih pduiondaheilable.ttta,scomparerocreavauww
BHID EastingsARC50 NorthingsARC50 Elevation Azimuth Dip Depth
ACD001 331,375.37 8,034,084.52 1,406.87 145 -80 67.10
ACD002 331,344.43 8,034,059.89 1,408.65 148 -79 104.70
ACD003 331,331.21 8,034,127.59 1,404.69 144 -80 86.70
ACD004 331,336.18 8,034,179.68 1,399.66 135 -80 80.70
ACD005 331,404.84 8,034,110.33 1,401.06 135 -80 71.60
ACD006 331,387.09 8,034,224.41 1,386.85 135 -80 77.70
ACD007 331,292.17 8,034,033.50 1,402.76 135 -80 74.32
ACD008 331,243.12 8,034,063.75 1,393.43 135 -79 53.60
ACD009 331,201.73 8,033,968.64 1,405.58 142 -80 62.70
ACD010 331,109.41 8,033,902.90 1,398.59 135 -80 67.35
ACD011 331,220.44 8,033,907.17 1,405.97 135 -80 32.70
ACD012 331,100.31 8,033,851.10 1,397.82 135 -80 71.96
ACD013 331,075.76 8,033,936.72 1,391.31 145 -79 60.70
ACD014 331,291.75 8,034,171.09 1,404.12 135 -80 29.75
ACD014B 331,288.54 8,034,174.19 1,404.36 150 -78 86.70
ACD015 331,134.81 8,033,976.09 1,398.27 158 -79 58.00
ACD016 331,464.00 8,034,145.40 1,378.00 135 -80 86.70
Phase 2 RC
ACR001 331,539.78 8,034,132.39 1,366.49 130 -79 51.00
ACR002 331,503.95 8,034,179.73 1,361.24 151 -81 52.00
ACR003 331,453.30 8,034,256.34 1,373.19 144 -80 76.00
ACR004 331,610.58 8,034,203.15 1,343.05 147 -80 37.00
ACR005 331,589.70 8,034,234.81 1,342.52 144 -80 33.00
ACR006 331,535.33 8,034,315.34 1,343.68 148 -80 56.00
ACR007 331,708.76 8,034,254.73 1,327.65 139 -81 43.00
ACR008 331,671.74 8,034,296.39 1,330.92 148 -80 50.00
ACR009 331,612.23 8,034,370.25 1,327.21 155 -79 55.00
ACR010 331,471.00 8,034,399.00 1,346.00 156 -80 70.00
ACR011 331,685.21 8,034,448.12 1,318.22 156 -80 76.00
ACR012 331,639.00 8,034,510.44 1,316.34 146 -80 81.00
ACR013 331,779.82 8,034,489.41 1,312.28 135 -79 81.00
ACR014 331,781.48 8,034,309.88 1,319.29 150 -78 82.00
ACR015 331,751.79 8,034,346.86 1,321.29 135 -80 68.00
ACR016 331,554.34 8,034,449.37 1,325.61 158 -79 76.00
ACR017 331,500.25 8,034,537.82 1,323.51 135 -80 53.00
ACR018 331,417.16 8,034,475.73 1,332.79 135 -80 82.00
ACR019 331,345.31 8,034,424.79 1,343.41 128 -80 77.00
ACR020 331,398.64 8,034,322.36 1,359.26 127 -77 69.00
ACR021 331,313.46 8,034,289.43 1,381.18 132 -80 85.00
ACR023 330,956.26 8,033,777.46 1,403.47 129 -81 89.00
ACR024 330,881.57 8,033,718.84 1,417.00 150 -77 55.00

APPENDIX – SUMMARY OF DRILL HOLES USED IN MINERAL RESOURCE ESTIMATE

BHID EastingsARC50 NorthingsARC50 Elevation Azimuth Dip Depth
ACR025 330,795.46 8,033,657.62 1,420.24 130 -79 55.00
ACR026 330,705.33 8,034,116.03 1,390.68 135 -77 60.00
ACR027 330,652.92 8,034,195.07 1,391.80 144 -75 74.00
ACR028 330,740.59 8,034,249.39 1,394.10 131 -59 70.00
ACR029 330,815.74 8,034,313.91 1,380.42 130 -79 70.00
ACR030 330,621.81 8,034,059.22 1,408.56 141 -80 53.00
ACR031 330,818.97 8,033,796.31 1,411.68 131 -78 61.00
ACR032 331,671.13 8,034,114.18 1,336.15 135 -79 24.00
Phase 3 (DD)
ACD017 331,337.01 8,034,200.90 1,398.38 127 -80 83.85
ACD018 331,644.87 8,034,412.88 1,322.11 125 -80 74.75
ACD019 331,827.50 8,034,408.51 1,314.25 124 -80 77.70
ACD020 331,573.20 8,034,593.51 1,316.06 133 -79 139.40
ACD021 332,023.14 8,034,485.85 1,303.85 130 -80 65.60
ACD022 331,511.40 8,034,419.82 1,334.54 132 -79.5 74.75
ACD023 331,719.05 8,034,567.88 1,310.43 137 -78 182.70
ACD024 332,000.03 8,034,344.41 1,306.64 137 -80 101.60
ACD025 331,825.32 8,034,627.66 1,305.46 133 -79.5 197.70
ACD026 331,863.90 8,034,275.86 1,315.11 139 -78.6 89.70
ACD027 331,883.06 8,034,692.43 1,303.98 136 -79.2 191.00
ACD028 331,857.12 8,034,551.29 1,307.64 135 -79.4 164.70
ACD029 331,460.90 8,034,511.98 1,327.78 118.6 -79.13 125.70
ACD030 331,638.77 8,034,652.11 1,310.90 132.3 -79.1 205.25
ACD031 331,583.86 8,034,412.21 1,326.37 133.5 -79.5 77.75
ACD032 331,519.88 8,034,676.15 1,315.39 134.9 -79.2 188.60
ACD033 331,363.44 8,034,566.64 1,325.95 133.9 -79.2 137.60
ACD034 331,962.93 8,034,723.46 1,302.06 128.9 -80.2 188.70
ACD035 331,290.29 8,034,512.25 1,331.84 127.8 -79.3 104.60
ACD036 332,042.88 8,034,810.39 1,298.79 131.2 -81.4 191.60
ACD037 332,114.47 8,034,870.89 1,296.15 125.2 -78.3 164.60
ACD038 331,207.90 8,034,444.88 1,343.14 132.9 -78.1 113.60
ACD039 332,001.12 8,034,931.82 1,303.99 132.7 -78.2 86.40
ACD039B 332,098.53 8,034,733.24 1,298.53 132.7 -78.2 200.60
ACD041 331,441.74 8,034,613.53 1,320.77 126.4 -80.1 141.25
ACD040 332,099.00 8,034,730.00 1,305.00 134.9 -79.9 77.33
ACD042 332,182.00 8,034,948.00 1,305.00 138.2 -79.5 170.70
ACD043 332,170.00 8,035,053.00 1,290.00 149.3 -79.9 176.70
ACD044 332,088.00 8,034,993.00 1,295.00 134 -77.4 203.60
ACD045 331,708.00 8,034,500.00 1,316.00 135.7 -79.6 104.85
ACD046 331,648.00 8,034,581.00 1,316.00 129.6 -80.4 116.85
ACD048 331,845.00 8,034,478.00 1,311.00 127.6 -79.2 113.85
ACD049 331,788.00 8,034,560.00 1,310.00 124.5 -79.6 107.85
BHID EastingsARC50 NorthingsARC50 Elevation Azimuth Dip Depth
ACD050 331,240.00 8,034,228.00 1,388.00 141.1 -79.4 80.60
ACD051 331,597.00 8,034,483.00 1,318.00 130.4 -79.3 89.95
ACD052 331,768.00 8,034,420.00 1,321.00 137.8 -80.1 80.60
ACD053 331,160.00 8,034,172.00 1,382.00 130.8 -79.7 83.60
ACD054 331,297.00 8,034,717.00 1,328.00 146.1 -78.8 68.25
ACD055 331,412.00 8,034,414.00 1,349.00 124.4 -78.9 74.85
ACD056 331,182.00 8,034,314.00 1,361.00 131.8 -79.3 104.70
ACD057 331,068.00 8,034,464.00 1,343.00 136.1 -79.4 95.70
ACD058 331,684.00 8,034,361.00 1,329.00 137 -78.9 75.10
ACD059 331,099.00 8,034,257.00 1,369.00 129.6 -79.6 80.70
ACD060 330,982.00 8,034,412.00 1,347.00 139.5 -79.3 89.70
ACD061 331,018.00 8,034,198.00 1,355.00 131.6 -79.6 131.70
ACD062 330,900.00 8,034,373.00 1,361.00 143.7 -79.2 89.70
ACD063 330,939.00 8,034,137.00 1,358.00 135.5 -80 131.60
ACD064 332,019.00 8,034,669.00 1,305.00 138 -78.4 149.60
ACD065 331,674.00 8,034,789.00 1,312.00 141.5 -77.5 203.70
Phase 3(RC)
ACR034 330,416.00 8,035,708.00 1,393.00 159 -74.8 80.00
ACR035 330,437.00 8,035,660.00 1,393.00 248 -87.4 100.00
ACR036 330,655.00 8,035,698.00 1,401.00 337 -74.5 90.00
ACR037 330,473.00 8,035,611.00 1,392.00 343 -67.8 82.00
ACR038 330,521.00 8,035,643.00 1,397.00 335 -71.7 72.00
ACR039 330,381.00 8,035,607.00 1,393.00 340 -70 90.00
ACR040 330,580.00 8,035,700.00 1,398.00 340 -70 78.00
ACR041 330,653.00 8,035,736.00 1,398.00 353 -74.7 64.00
ACR042 330,707.00 8,035,776.00 1,394.00 334 -68.7 60.00
ACR043 331,760.18 8,034,172.79 1,322.82 131 -80.8 75.00
ACR044 331,457.41 8,034,025.65 1,376.89 137 -82.2 82.00
ACR045 330,853.00 8,035,804.00 1,393.00 344 -72 65.00
ACR046 331,922.41 8,034,282.84 1,311.24 137 -80.3 83.00
ACR047 331,819.83 8,034,096.44 1,319.15 140 -80.8 81.00
ACR048 331,840.66 8,034,227.19 1,317.12 134 -80.7 77.00
ACR049 331,724.19 8,034,023.21 1,326.88 129 -79.5 79.00
ACR050 331,759.53 8,033,900.35 1,322.79 130 -80.6 75.00
ACR051 330,911.08 8,033,869.20 1,400.10 155 -81.3 80.00
ACR052 331,869.71 8,033,999.45 1,316.20 140 -80.1 67.00
ACR053 331,901.85 8,034,147.66 1,314.46 144 -75 75.00
ACR054 330,831.09 8,033,952.91 1,384.08 145 -79.3 73.00
ACR055 331,982.73 8,034,208.03 1,309.51 142 -80.7 88.00
ACR056 331,950.69 8,034,425.78 1,308.07 131 -81 75.00
ACR057 332,288.00 8,034,881.00 1,302.00 150 -60 57.00
ACR058 332,244.00 8,035,050.00 1,292.00 150 -60 74.00
BHID EastingsARC50 NorthingsARC50 Elevation Azimuth Dip Depth
ACR059 332,650.00 8,034,950.00 1,307.00 180 -60 50.00
ACR060 332,650.00 8,035,000.00 1,300.00 180 -60 58.00
ACR061 332,650.00 8,035,050.00 1,302.00 180 -60 76.00
ACR062 332,650.00 8,035,146.00 1,299.00 180 -60 80.00
ACR063 332,650.00 8,035,247.00 1,296.00 180 -60 125.00
ACR064 332,750.00 8,035,000.00 1,305.00 180 -60 63.00
ACR066 332,850.00 8,035,001.00 1,300.00 180 -60 74.00
ACR067 332,850.00 8,035,050.00 1,302.00 180 -60 84.00
ACR068 332,950.00 8,035,000.00 1,295.00 180 -60 85.00
ACR069 332,950.00 8,035,050.00 1,296.00 180 -60 93.00
ACR070 333,050.00 8,035,000.00 1,295.00 180 -60 92.00
ACR071 333,050.00 8,035,050.00 1,297.00 180 -60 92.00
ACR072 333,150.00 8,035,000.00 1,292.00 180 -60 108.00
ACR073 332,950.00 8,034,900.00 1,296.00 174 -62 70.00
ACR074 332,950.00 8,034,800.00 1,309.00 180 -59 60.00
ACR075 333,150.00 8,034,700.00 1,287.00 178 -59 77.00
ACR076 333,238.00 8,034,700.00 1,286.00 169 -63 73.00
ACR077 333,150.00 8,034,800.00 1,283.00 175 -66 75.00
ACR078 333,150.00 8,034,600.00 1,291.00 177 -61 75.00
ACR079 332,550.00 8,035,146.00 1,299.00 180 -63 79.00
ACR080 332,452.00 8,035,150.00 1,294.00 182 -61 80.00
ACR081 332,350.00 8,035,146.00 1,301.00 173 -62 80.00
Phase 3 Tails
ACDT01 331,228.39 8,034,595.14 1,329.10 130.8 -80.7 140.50
ACDT02 331,314.86 8,034,640.81 1,324.39 154.1 -79.9 134.60
ACDT04 331,598.00 8,034,727.00 1,317.00 132.1 -79.8 170.60
ACDT07 331,147.60 8,034,525.55 1,334.51 135 -80 110.60
Phase 3DD
ACD059 331,099.00 8,034,257.00 1,369.00 129.6 -79.6 80.70
ACD060 330,982.00 8,034,412.00 1,347.00 139.5 -79.3 89.70
ACD061 331,018.00 8,034,198.00 1,355.00 131.6 -79.6 131.70
ACD062 330,900.00 8,034,373.00 1,361.00 143.7 -79.2 89.70
ACD063 330,939.00 8,034,137.00 1,358.00 135.5 -80 131.60
ACD064 332,019.00 8,034,669.00 1,305.00 138 -78.4 149.60
ACD065 331,674.00 8,034,789.00 1,312.00 141.5 -77.5 203.70
ACD066 331,858.00 8,034,367.00 1,316.00 128.5 -79.6 67.95
ACD067 331,733.00 8,034,713.00 1,314.00 136.1 -77.6 173.70
ACD068 331,262.00 8,034,547.00 1,333.00 146 -79.3 101.75
ACD069 331,568.00 8,034,524.00 1,329.00 139.4 -79.7 101.85
ACD070 331,391.00 8,034,525.00 1,333.00 145.4 -79.5 101.85
ACD071 331,191.00 8,034,557.00 1,332.00 135 -79.6 113.85
ACD072 331,808.00 8,034,773.00 1,311.00 130.9 -79.7 143.70
BHID EastingsARC50 NorthingsARC50 Elevation Azimuth Dip Depth
ACD073 331,495.00 8,034,535.00 1,325.00 133.1 -79.3 108.12
ACD074 331,358.00 8,034,069.00 1,410.00 132.1 -79.7 41.85
ACD075 331,392.00 8,034,090.00 1,409.00 129.6 79.1 44.85
ACD076 331,322.00 8,034,053.00 1,413.00 128.9 80.5 29.85
ACD077 331,349.00 8,034,102.00 1,403.00 130.1 80.5 41.85
ACD078 331,304.00 8,034,073.00 1,409.00 136.1 79.6 35.75
ACD079 331,293.00 8,034,324.00 1,374.00 131.7 79.3 44.85
ACD080 331,244.00 8,034,398.00 1,349.00 137.8 79.5 44.85
ACD081 331,379.00 8,034,119.00 1,402.00 140.6 79.9 44.85
Phase 4 (RC)
ACR074 332,950.00 8,034,800.00 1,309.00 180 -59 60.00
ACR075 333,150.00 8,034,700.00 1,287.00 178 -59 77.00
ACR076 333,238.00 8,034,700.00 1,286.00 169 -63 73.00
ACR077 333,150.00 8,034,800.00 1,283.00 175 -66 75.00
ACR078 333,150.00 8,034,600.00 1,291.00 177 -61 75.00
ACR079 332,550.00 8,035,146.00 1,299.00 180 -63 79.00
ACR080 332,452.00 8,035,150.00 1,294.00 182 -61 80.00
ACR081 332,350.00 8,035,146.00 1,301.00 173 -62 80.00
ACR082 330,980.00 8,034,699.00 1,333.00 133 -81 50.00
ACR083 330,921.00 8,034,780.00 1,337.00 143 -80 44.00
ACR084 331,134.00 8,034,915.00 1,333.00 130 -81 30.00
ACR085 331,110.00 8,034,758.00 1,326.00 127 -81 50.00
ACR086 331,054.00 8,034,840.00 1,335.00 135 -80 70.00
ACR087 330,998.00 8,034,920.00 1,344.00 143 -84 51.00
ACR088 331,210.00 8,034,810.00 1,331.00 136 -81 40.00
ACR089 330,878.00 8,034,647.00 1,338.00 141 -81 48.00
ACR090 330,937.00 8,034,565.00 1,343.00 130 -80 50.00
ACR091 331,638.00 8,033,946.00 1,332.00 135 -80 50.00
ACR091B 331,634.00 8,033,947.00 1,332.00 114 -82 85.00
ACR092 331,528.00 8,033,891.00 1,340.00 134 -80 75.00
ACR093 331,422.00 8,033,823.00 1,360.00 140 -82 76.00
ACR094 331,370.00 8,033,725.00 1,360.00 150 -79 84.00
ACR095 331,213.00 8,033,634.00 1,372.00 135 -82 72.00
ACR096 331,511.00 8,033,634.00 1,348.00 135 -80 36.00
ACR097 330,469.00 8,033,552.00 1,442.00 138 -79 76.00
ACR098 330,419.00 8,033,447.00 1,469.00 153 -80 73.00
ACR099 330,356.00 8,033,362.00 1,443.00 107 -78 80.00
ACR100 330,581.00 8,033,745.00 1,405.00 135 -80 76.00
ACR101 330,365.00 8,033,739.00 1,398.00 135 -80 72.00
ACR102 331,575.00 8,033,759.00 1,339.00 133 -84 95.00
ACR103 331,670.00 8,033,820.00 1,330.00 141 -82 93.00
ACR123 331,127.00 8,034,386.00 1,355.00 140 -80 90.00
BHID EastingsARC50 NorthingsARC50 Elevation Azimuth Dip Depth
ACR126 331,048.00 8,034,327.00 1,347.00 144 -81 90.00
ACR128 330,955.00 8,034,265.00 1,361.00 137 -80 90.00
ACR134 331,775.00 8,034,809.00 1,455.00 128 -81 130.00
ACR136 330,880.00 8,034,207.00 1,318.00 141 -81 90.00
ACR139 331,030.00 8,033,704.00 1,387.00 147 -83 70.00
ACR140 330,758.00 8,033,883.00 1,407.00 140 -82 80.00
ACR142 330,952.00 8,033,644.00 1,398.00 147 -81 50.00
ACR145 331,109.00 8,033,644.00 1,381.00 130 -81 100.00
ACR146 331,110.00 8,033,772.00 1,379.00 146 -82 85.00
ACR147 331,199.00 8,033,824.00 1,388.00 144 -83 100.00
ACR148 331,291.00 8,033,864.00 1,384.00 128 -80 103.00
ACR149 331,499.00 8,033,794.00 1,347.00 138 -79 79.00
ACR152 331,177.00 8,033,722.00 1,387.00 135 -80 109.00
ACR153 331,269.00 8,033,768.00 1,384.00 140 -82 105.00
ACR154 331,349.00 8,033,852.00 1,370.00 137 -80 105.00
ACR155 331,377.00 8,033,946.00 1,399.00 136.3 -81 102.00
ACR156 331,162.00 8,033,601.00 1,377.00 142 -81 82.00
ACR157 331,033.00 8,033,855.00 1,390.00 137 -81 110.00

Phase 5 RC

BHID EastingsARC50 NorthingsARC50 Elevation Azimuth Dip Depth
ACR168 330,860 8,034,086 1,372 126 -79 110.00
ACR169 330,772 8,034,020 1,382 142 -76 151.00
ACR170 330,689 8,033,956 1,403 134 -79 160.00
ACR171 331,120 8,034,130 1,377 123 -82 61.00
ACR172 331,053 8,034,079 1,371 123 -80 113.00
ACR173 332,551 8,035,054 1,305 179 -60 99.00
ACR174 330,993 8,034,036 1,370 134 -81 114.00
ACR175 332,451 8,035,072 1,305 180 -60 97.00
ACR176 330,939 8,034,009 1,363 135 -80 120.00
ACR177 332,359 8,035,050 1,301 180 -60 90.00
ACR178 332,453 8,035,250 1,296 180 -60 121.00
ACR179 330,814 8,034,150 1,380 135 -80 160.00
ACR182 332,247 8,035,150 1,289 180 -60 109.00
ACR183 331,225 8,034,135 1,395 135 -80 131.00
ACR184 331,152 8,034,065 1,383 135 -80 126.00
ACR185 331,081 8,034,024 1,386 135 -80 130.00
ACR186 331,011 8,033,940 1,384 135 -80 118.00
ACR187 331,197 8,034,041 1,389 135 -80 140.00
ACR188 331,096 8,033,967 1,397 135 -80 121.00