ROX RESOURCES LIMITED — Capital/Financing Update 2021

Dec 22, 2021

RRL1799D

ASX ANNOUNCEMENT

23 December 2021

ROX RESOURCES LIMITED ASX: RXL

Rox Resources Limited (ASX: RXL) is an Australian listed company with advanced gold projects in Western Australia: the Youanmi Gold Project and the Mt Fisher Gold project..

Impressive Albion Process Results Received for Youanmi Ore

Highlights:

• Albion Process achieves an average of 92.2% gold extraction (up to 94%) for Youanmi Deeps mineralisation

• Albion Process the preferred treatment method for Youanmi Deeps ore and is likely to deliver the lowest capital and operating costs of the methods evaluated

___________

DIRECTORS

Mr Stephen Dennis Chairman

Mr Alex Passmore Managing Director

Dr John Mair Non-Executive Director

Shares on Issue 157.6m Share Price $0.34 Market Cap. $53.6m Cash $10.7m (as at 30 Sep 21)

Level 2, 87 Colin Street, West Perth WA 6005

West Australian focused gold exploration and development company, Rox Resources Limited (“Rox” or “the Company”) (ASX: RXL), in conjunction with its joint venture partner Venus Metals Corporation Limited (ASX: VMC) is pleased to provide an update on metallurgical testwork recently conducted on the Youanmi Deeps Resource, located within the OYG JV area (Rox 70% and Manager, VMC 30%).

Albion Process amenability testwork was completed this month as part of a broader assessment of a suite of gold processing options including standard cyanide leach, roasting, pressure oxidation and ultrafine grind (“UFG”) followed by atmospheric cyanide leaching.

The testwork was conducted by Orway Mineral Consultants utilising Core Technologies Albion Process technology.

The Albion Process has emerged as the most suitable method for treatment of Youanmi Deeps Resource with an average gold extraction of 92.2%. The Albion process offers substantial capital and operating cost benefits, in conjunction with recovery benefits, in comparison to other processing methods studied.

Further sampling has been undertaken to allow feasibility study level testwork to commence in January 2022.

+61 8 9226 0044

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Follow Rox:

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Managing Director Alex Passmore commented:

“In October 2021 (ASX release 6 October 2021) we reported excellent gold extraction results via the POX (Pressure Oxide Leach) process noting a step change increase from historical extraction rates achieved by Gold Mines of Australia in the Deeps Resource. At the time we noted that other oxidation process technologies were still under consideration, and with these more recent results we have demonstrated that the Albion Process achieves very high gold extraction rates (in line with the POX extraction rates) and is likely to be delivered with lower capital and operating costs. We look forward to the next more detailed round of test work which will incorporate larger sample volumes, for which sample collection began last week on site.”

Metallurgical Testwork Results

The Albion testwork undertaken shows very high extractions, i.e. similar to those achieved with the POX process reported in October 2021 (Table 1). Of note is the much lower reagent consumption rates which in turn delivers a lower operating cost. The Albion Process also has a lower initial capital cost on current internal estimates.

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Table 1: Table Summarising Results for Scoping Level Metallurgical Testwork - various

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Albion amenability testwork was undertaken to determine whether the process should be considered as part of the next phase of testwork. The Neutral Albion Leach testwork was done to target 60 - 75% sulphide sulphur oxidation. The testwork involved ultrafine grinding to around 10μm, acid addition to get the process started and then limestone addition to maintain pH / ORP. The following conditions were selected:

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Table 2: Albion - Neutral Albion Process Leaching (NAL) Conditions

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Figure 1: View Showing Locations of the Two Core Sample Composites Used in the Preliminary Albion Testwork – taken from same composites used in the October 2021 Reported POX Testwork.

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Indicative Albion Process Flowsheet

The following flowsheet description is based on the GPM Gold Project Flowsheet as described in: “MAKING THE RIGHT SELECTION: A COMPARATIVE ANALYSIS FOR THE TREATMENT OF REFRACTORY GOLD CONCENTRATES” (Glencore Technology Website).

In the Albion Process flowsheet, the flotation concentrate thickener underflow is pumped to an IsaMill feed pump box where it is combined with media before being pumped to the IsaMill. The regrind mill is specified to achieve a grind size of 80% mass passing of around 10 microns. The discharge slurry is then pumped to an agitated concentrate storage tank with typically eight hours surge capacity to allow the leach to continue to operate when IsaMill maintenance activities are performed.

The concentrate slurry is then transferred to one of the first three Albion Process leach reactors. The oxidative leach circuit flowsheet typically consists of six Albion leach reactors fabricated from lean duplex alloy steel connected with launders allowing tank by-passing during maintenance events. Each reactor is fitted with a dual impeller agitator, with oxygen delivered by a bank of six supersonic HyperSparge oxygen gas injection lances. The process is designed to run auto thermally at or around 93[o] C.

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Figure 2: Indicative Block Flow Diagram – Albion Process

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The pH in each reactor is maintained between 5.0 to 5.5 through dosing of limestone slurry. The limestone slurry is typically produced in an on-site limestone milling plant. The limestone is usually milled to an 80% mass passing size of 75 micron in a ball mill operated in closed circuit with cyclones. The cyclone overflow reports to an agitated distribution tank and circulates through the oxidative leach circuit by ring main.

Oxygen for the Albion Process and CIL is provided by Vacuum Pressure Swing Adsorption plants. The turndown capability in the plants means the oxygen generating capacity can be reduced when less oxidation is required.

The leach discharge is around 30% solids and is mixed with flotation tailings before feeding the CIL circuit. The Albion Process residue treated in the CIL circuit is characterised by low lime and cyanide consumption as a result of the continual neutralisation of iron and acid through the addition of the alkali limestone during oxidation. This process also prevents the formation of element sulphur.

Next Round of Samples for Feasibility Level Testwork

The next round of testwork will include at least 5 potential mining domains, each made up of composite samples taken from approximately 45 individual diamond drill core intervals comprising of mainly half and quarter NQ drilling core (Figure 3).

The next testwork phase will include flotation grind size and reagent suite optimisation, Albion optimisation testwork, Ultrafine Grind energy signature plots, engineering data tests (viscosities, tailings characterisation, thickener tests etc.) and comminution characterisation. Optimisation work is typically on a Master Composite sample that is representative of the overall resource blend, with variability confirmation testwork targeting grade, lithology, and depth.

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Figure 3: Collecting core on site December 2021 for feasibility level Albion Process testwork

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Background on Testwork Manager - Orway Mineral Consultants ( OMC)

The consultancy is recognised as the world leader in SAG sizing and comminution circuit design, providing modelling services using in house and commercially available software. OMC’s expertise has expanded to include comminution, beneficiation and hydrometallurgy services to large and small companies across the globe.

Background on Testwork Provider and Technology – Core Technologies

Core is a global leader in the development and commercialisation of process technologies for the mining industry. Core has demonstrated expertise in identifying and developing mineral processing innovations that address major industry technical challenges. Core is a knowledge-based business, with technical industry leaders in the business providing expert development services to global mining projects. .

Core works with major industry leaders, and with start-ups and junior explorers, to develop new mineral processing technologies and find world class solutions. Core’s development expertise is suited to flotation, hydrometallurgy and metal recovery technologies. The Albion Process™ was developed at Core’s Albion facilities (previously owned by MIM/Xstrata) during the early 1990’s, and is a combination of ultrafine grinding, and oxidative leaching at atmospheric pressure. It is a highly effective process for the treatment of a wide range of sulphide based metal and precious metal concentrates, for precious and base metal recovery.

Authorised for release to the ASX by the Board of Rox Resources Limited.

* ENDS ***

For more information:

Alex Passmore Managing Director Rox Resources Limited Tel: +61 8 9226 0044 E: admin@roxresources.com.au

Matt Hogan Managing Director Venus Metals Corporation Limited Tel: +61 8 9321 7541

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Competent Person Statements

Results

The information in this report that relates to metallurgical results is based on information compiled and reviewed by Mr Fred Kock a Competent Person who is a Fellow of the Australasian Institute of Mining and Metallurgy (“AusIMM”) and Principal Metallurgist at Orway Mineral Consultants (“OMC”). Mr Kock has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he has undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Kock consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Where reference is made to previous releases of exploration results in this announcement, the Company confirms that it is not aware of any new information or data that materially affects the information included in those announcements and all material assumptions and technical parameters underpinning the exploration results included in those announcements continue to apply and have not materially changed.

The information in this report that relates to previous Exploration Results, was either prepared and first disclosed under the JORC Code 2004 or under the JORC Code 2012 and has been properly and extensively cross-referenced in the text to the date of the original announcement to the ASX. In the case of the 2004 JORC Code Exploration Results and Mineral Resources, they have not been updated to comply with the JORC Code 2012.

Resource Statements

The information in this report that relates to gold Mineral Resources for the Youanmi Project was reported to the ASX on 23 June 2021 (JORC 2012). Rox confirms that it is not aware of any new information or data that materially affects the information included in the announcement of 23 June 2021, and that all material assumptions and technical parameters underpinning the estimates in the announcement of 23 June 2021 continue to apply and have not materially changed.

Forward ‐ Looking Statements

‐ ‐ This document may include forward looking statements. Forward looking statements include, but are not limited to, statements concerning Rox Resources Limited planned exploration program(s) and other statements that are not historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may”, "potential," "should," and similar expressions are forward looking statements.

About Rox Resources

Rox Resources (ASX:RXL) is a West Australian focused gold exploration and development company. It is 70 per cent owner and operator of the historic Youanmi Gold Project near Mt Magnet, approximately 480 kilometres northeast of Perth, and wholly-owns the Mt Fisher Gold project approximately 140 kilometres southeast of Wiluna. Youanmi has a Total Mineral Resource of 1,656 koz of contained gold, with potential for further expansion with the integration of existing prospects into the Resource and further drilling. Youanmi was a high-grade gold mine and produced 667,000ozof gold (at 5.47 g/t Au) before it closed in 1997. Youanmi is classified as a disturbed site and is on existing mining leases which has significant existing infrastructure to support a return to mining operations.

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Table 1. Sample and drill hole location information.

Sample ID	Hole Id	From	To	Location	Collar East	Collar North	Collar RL	Dip	Azimuth	Hole Depth	**Au_ppm **
MET001	AYMD0002W4	462.5	463.1	Youanmi Deeps	679295.7	6833661.3	459.7	-86.1	49.7	766.2	15.56
MET004	YD0033	171.7	172.7	Hill End Deeps	679331.6	6834364.9	466.8	-70	60	274.5	16.7
MET017	RXRC353	94	95	Junction	679966.6	6833301.5	456.2	-56.5	71.2	252	4.64
MET020	YD0078	688.78	689.69	Youanmi Deeps	679300.1	6833523.9	460.3	-70.6	66	745.5	5.06
MET023	YUG061	70.9	72.2	Youanmi Deeps	679644	6833869.8	90.4	-55	270	76.2	14.35
MET026	YD0084	714.6	715.2	(Lower) Youanmi Deeps	679253	6833677.9	460.7	-79	63.5	766.15	69.05
MET032	YUG036	12.8	13.8	Youanmi Deeps	679671.6	6833763.2	58.9	-59	268	43.3	200
MET033	YUG061	45.2	46.2	Youanmi Deeps	679644	6833869.8	90.4	-55	270	76.2	36.69
MET040	94KRCD0355	102.9	104	Kathleen	679167.5	6834883.9	469.3	-70	64	109.8	28.22
MET043	YUG149	11.05	11.65	Hill End Deeps	679458.4	6834434.1	268.5	40	260	29.1	4.9
MET061	YUG015	37.15	37.71	(Upper) Youanmi Deeps	679750.1	6833810.9	207.8	2	59	47.3	7.5

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JORC Code, 2012 Edition – Table 1

Section 1 Data and Sampling Techniques

Criteria	JORC Code explanation Commentary
Sampling techniques	Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. Diamond drill hole core size is comprising of predominantly half and quarter NQ drilling core size diameter through the mineralisation. Sampling of diamond holes was by cut half core as described further below. Drill holes were generally angled at -570towards grid northeast (but see Table 2 for individual hole dips and azimuths) to intersect geology as close to perpendicular as possible.
	Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used 30 drillhole location sections were selected including 14 sections from the upper part of the Hangingwall Lode domain, and 16 sections from the upper part of the Main Lode domain. The selection was based on providing a representative diamond drill holes that each represent at least 20% of the proposed mining and mill feed inventory.
	Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m 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. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information Diamond core was cut according to lithological intervals and dispatched to the laboratories. Sampling protocols and QAQC are as per industry best practice procedures.
Drilling techniques	Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc). Drilling technique was diamond core (DD). The DD hole diameter was predominantly half and quarter NQ drilling core size diameter. Hole depths reported range from 50m to 215m to 745m for diamond.
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed Limited records relating to diamond core sample recoveries have been identified. The sections selected from the Main Lode, and Hangingwall Lode domains combined represent over 30 percent of the entire Deeps Mineral Resource. This is above the target threshold for this analysis.
	Measures taken to maximise sample recovery and ensure representative nature of the samples Diamond Drilling sampling documentation where available described, sampling and recovery procedures consistent with standard Australian industry standards (Yeates, R.J. 2003).
	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. There is no observable relationship between recovery and grade, and therefore no sample bias.

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Criteria	JORC Code explanation Commentary
Logging	Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Detailed geological and geotechnical logs were carried out on all diamond drill holes for recovery, RQD, structures etc. which included structure type, dip, dip direction, alpha angle, beta angle, texture, shape, roughness, fill material, and this data is stored in the database. The geological data would be suitable for inclusion in a Mineral Resource estimate.
	Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. Logging of diamond core chips recorded lithology, mineralogy, mineralisation, weathering, colour, and other sample features.
	The total length and percentage of the relevant intersections logged Detailed geological logs were carried out for the entire length of the selected sections
Sub-sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken. Drill core was cut in half on site using a core saw. All samples were collected from the same side of the core, preserving the orientation mark in the kept core half.
	If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. All selected sections were sourced from historical drill core from on site core storage
	For all sample types, the nature, quality and appropriateness of the sample preparation technique. The sample preparation followed industry best practice. • SMC, BWi and Ai comminution testwork to be conducted • Comprehensive head assay of each of the samples • Standard bottle roll cyanidation tests at two grind sizes (75 and 125μm) to establish a baseline • Mineralogy on each sample (QEMSCAN) • Scouting flotation tests to screen a few common reagents at the two grind sizes • Bulk flotation to produce concentrate for further testwork • Mineralogy on both the concentrate (QEMSCAN + gold search) and tail (XRD) sample • Comprehensive head assay on each concentrate • UFG testwork on each flotation concentrate to a range of sizes (15 micron) • Standard bottle roll test on each UFG sample as well as flotation tail • 2 stage roast, POX, and and Albion Process testwork
	Quality control procedures adopted for all sub- sampling stages to maximise representivity of samples. QC procedures involved the calibration of testwork equipment with the use of Certified Reference Materials (CRM’s), along with duplicates and blank 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. Current metallurgical results for the selected sections we validated against historical analysis. No significant variation was observed in the validation.

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Criteria	JORC Code explanation Commentary
	Whether sample sizes are appropriate to the grain size of the material being sampled. The sample sizes are considered more than adequate to ensure that there are no particle size effects relating to the grain size of the mineralisation which lies in the percentage range.
Quality of assay data and laboratory tests	The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. The sample sizes are considered more than adequate to ensure that there are no particle size effects relating to the grain size of the mineralisation which lies in the percentage range.
	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. No field equipment was used in the metallurgical analysis. All testwork was conducted at OMC laboratory facilities.
	Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established. Internal laboratory control procedures involve duplicate assaying of randomly selected assay pulps as well as internal laboratory standards.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel. Results have been checked by the supervising Metallurgist. Senior personnel from the Company have visually inspected mineralisation within significant intersections
	The use of twinned holes.
	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Grades and recoveries undertaken on the metallurgical samples were provided in a specialised report covering the testwork undertaken.
	Discuss any adjustment to assay data. No adjustments have been made to the assay data.
Location of data points	Accuracy and quality of surveys used to locate drillholes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Historical data was surveyed in a mixture of local and AMG84 coordinates.
	Specification of the grid system used. All location and topographic data has subsequently been converted to the GDA94 Zone 50 Datum.
	Quality and adequacy of topographic control. The topography of the mined open pits is well defined by monthly survey pickups.
Data spacing and distribution	Data spacing for reporting of Exploration Results. RC and diamond drill hole spacing varies 40-200 metres between drill sections, with some areas at 40 metre drill section spacing. Down dip step-out distance varies 20-100 metres.

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Criteria	JORC Code explanation Commentary
	Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. Data spacing and distribution are sufficient to establish the degree of geological and grade continuity appropriate for JORC(2012) classifications applied.
	Whether sample compositing has been applied. No sample compositing has occurred for diamond core drilling. Sample intervals are based on geological boundaries with even one metre samples between.
Orientation of data in relation to geological structure	Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. The mineralisation strikes generally NNW-SSE and dips to the west at approximately -50 degrees. The drill orientation was 065 and 245 degrees and -60 to -90 dip. Drilling is believed to be generally perpendicular to strike
	If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. No sampling bias is believed to have been introduced.
Sample security	The measures taken to ensure sample security. The chain of custody for historical samples is not well documented, but was reviewed by RSG (Yeates, 2003) and found to be consistent with the standard practice for the time. A large number of samples these bags were transported by the Company directly to the assay laboratory. In some cases the sample were delivered by a transport contractor the assay laboratory. The assay laboratory audits the samples on arrival and reports any discrepancies back to the Company. No such discrepancies occurred.
Audits or reviews	The results of any audits or reviews of sampling techniques and data. Goldcrest conducted a thorough review of historical sampling and assay techniques and data in September, 2004. No other sampling audits have been carried out to date

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JORC Code, 2012 Edition – Table 1

Section 2 Reporting of Exploration Results

Criteria	JORC Code explanation Commentary
Mineral tenement and land tenure status	Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. Rox Resources Ltd is in a Joint Venture Agreement with Venus Metals Corporation Ltd under which it has a 70% interest in the Youanmi Gold Mine Joint Venture (OYG Joint Venture). Tenements in the JV consist of the following mining leases: M 57s /10, 51,76,97,109, 135, 160A, 164, 165, 166 and 167.
	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. The tenement is in good standing and no known impediments exist
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties. Significant previous exploration has been carried out throughout the project by various companies, including AC/RAB, RC drilling and diamond drilling • 1971-1973 WMC: RAB, RC and surface diamond drilling • 1976 Newmont: 10 surface diamond drillholes (predominantly targeting base metals). • 1980-1986 BHP: RAB, RC and surface diamond drilling (predominantly targeting base metals). • 1986-1993 Eastmet: RAB, RC and surface diamond drilling. • 1993-1997 Goldmines of Australia: RAB, RC and surface diamond drilling. Underground mining and associated underground diamond drilling. • 2000-2003 Aquila Resources Ltd: Shallow RAB and RC drilling • 2004-2005 Goldcrest Resources Ltd: Shallow RAB and RC drilling; data validation. • 2007- 2013 Apex Minerals NL: 9 diamond holes targeting extensions to the Youanmi deeps resource.

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Criteria			JORC Code explanation					Commentary
Geology								The Youanmi Project straddles a 40km strike length of the
								Youanmi Greenstone Belt, lying within the Southern Cross
								Province of the Archaean Yilgarn Craton in Western
								Australia.
								The greenstone belt is approximately 80km long and 25km
								wide, and incorporates an arcuate, north-trending major
								crustal structure termed the Youanmi Fault Zone.
								This structure separates two discordant greenstone terrains,
								with the stratigraphy to the west characterised by a series of
								weakly deformed, layered mafic complexes (Windimurra,
								Black Range, Youanmi and Barrambie) enveloped by
								strongly deformed, north-northeast trending greenstones.
								Gold mineralisation is developed semi-continuously in shear
								zones over a strike length of 2,300m along the western
								margin of the Youanmi granite.
								The Youanmi gold lodes are invariably associated with a high
								pyrite and arsenopyrite content and the primary ore is
	Deposit type, mineralisation.			geological setting	and	style	of	partially to totally refractory. There are a series of major fault systems cutting through the Youanmi trend mineralisation that have generated some
								significant off-sets.
								The Youanmi Deeps project area is subdivided into three
								main areas or fault blocks by cross-cutting steep south-east
								trending faults; and these are named Pollard, Main, and Hill
								End from south to north respectively.
								Granite hosted gold mineralisation occurs at several sites,
								most notably Grace and the Plant Zone Prospects.
								Gold mineralization occurs as free particles within quartz-
								sericite altered granite shear zones.
								The Commonwealth-Connemarra mineralised trend is
								centred 4km northwest of the Youanmi plant. The geology
								comprises a sequence of folded mafic and felsic volcanic
								rocks intercalated with BIF and intruded by granite along the
								eastern margin. Gold mineralisation is developed over a
								600m strike length, associated with a north trending and
								steeply west dipping shear zone that traverses the northwest
								trending succession.
Drill hole	A summary		of	all information	material to		the
Information	understanding		of the exploration results			including a
	tabulation	of the following information for all Material drill
	holes:
	•	easting and northing of the			drill hole collar
	•	elevation or RL (Reduced			Level	– elevation		Refer to details of drilling in table 2 in the body of this report.
		above		sea level in metres) of the drill hole
		collar
	•	dip and azimuth of the hole
	•	down hole length and interception depth
	•	hole	length.

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Criteria	JORC Code explanation Commentary
Data aggregation methods	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated. Only selected sections were assayed in this set of metallurgical testwork
	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 aggregations should be shown in detail. Mineralisation over 0.5g/t Au has been included in the selected sections of diamond core.
	The assumptions used for any reporting of metal equivalent values should be clearly stated. No metal equivalent values have been used or reported.
Relationship between mineralisation widths and intercept lengths	These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’). The mineralisation strikes generally NNW-SSE and dips to the west at approximately -50 degrees. The drill orientation was 065 and 245 degrees and -60 to -90 dip. Drilling is believed to be generally perpendicular to strike. Given the angle of the drill holes and the interpreted dip of the host rocks and mineralisation (see Figures in the text), reported intercepts approximate true width.
Diagrams	Appropriate maps and sections (with scales) and tabulations of 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. Appropriate maps and sections are available in the body of the report.
Balanced reporting	Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results. The report is considered balanced and provided in context.
Other substantive exploration data	Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances. All meaningful and material information has been included in the body of the announcement.
Further work	The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling). Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive Further work is planned to include a wider range of underground resource domains using sections of of diamond drill core, including the recently discovered Link area to the north of the current deeps resource, which after geological modelling has been completed will be included in the next resource update.

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