TASMAN RESOURCES LTD — Interim / Quarterly Report 2019

Jan 30, 2020

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ASX QUARTERLY REPORT

for the Period Ended 31[st] December 2019

SUMMARY

SOUTH AUSTRALIAN EXPLORATION PROJECTS

Pernatty IOCG* Project - EL 6137 (100% Tasman)

• Geophysical interpretation completed.

• Five EM targets identified.

• Drill testing for copper sulphides proposed.

(*IOCG – Iron Oxide-Copper-Gold)

Vulcan and Vulcan West IOCG* Project – EL6416 (Fortescue Metals Group Ltd (Fortescue) earning 51%)

• Gravity survey commenced.

• Data reviews and hole relogging ongoing.

• Detailed magnetic susceptibility, specific gravity and conductivity data collected on Titan drill holes.

• Hyperspectral analysis of three Vulcan core holes completed.

EDEN INNOVATIONS LTD (ASX Code: EDE)

• Tasman through its wholly owned subsidiary, Noble Energy Pty Ltd, holds 624,634,707 fully paid shares in Eden (representing 36.24% of the total issued capital of Eden) and 14,814,815 EDEOB options. Based on the closing price on the ASX of EDE ($0.039) and EDEOB ($0.018) on 31 December 2019, this investment had a market value of $24.6 million, which is equivalent to 5 cents for every currently issued TAS share.

• Highlights of Eden’s progress during the quarter can be viewed in Eden’s quarterly activities report.

Level 15, 197 St Georges Terrace, Perth, Western Australia 6000 Telephone: (08) 9282 5889 Facsimile: (08) 9282 5866 Website: www.tasmanresources.com.au

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Report for December Quarter 2019

MINERAL EXPLORATION

LAKE TORRENS PROJECT, SOUTH AUSTRALIA

Pernatty Project - EL 6137 (Tasman 100%)

The Pernatty Project is located approximately 20km SSE of the IOCG deposit at Carrapateena, within Exploration Licence 6137 (refer Figure 1). The area was initially targeted by Tasman for its potential to host IOCG deposits due to available geophysical data, the possibility of reasonable basement depths and its proximity to Carrapateena. Importantly, Tasman’s regional geological studies identified Pernatty as lying within an interpreted prospective “corridor” containing the most commercially favourable IOCG deposits at Olympic Dam, Wirrda and the three deposits in the Carrapateena area (see Figure 1). Recently, BHP has announced the potential discovery of a major new deposit at Oak Dam West, which is also located within this interpreted corridor. There has been no previous drilling within the tenement .

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Figure 1: Pernatty Project Location Plan (grid GDA 94, Z53).

Electromagnetic (EM) Survey Results

EM surveying over priority gravity and magnetic targets (refer ASX announcement 7 January 2019) identified within the Pernatty IOCG project, was completed, including follow up surveys, in December last year. A total of 54.7 line kms were surveyed over the two target areas (refer Figures 1&2). The aim of the survey was to locate anomalous areas of electrical conductivity in the basement that could be due to IOCG associated copper sulphide mineralisation, as well as give information about depth to basement.

Geophysical modelling of the EM data in conjunction with the available gravity and magnetic data has recently been completed by Tasman’s consultant geophysicist.

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Northern
Area
Southern
Area
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Figure 2: EL 6137. Residual gravity image showing EM survey lines (white) and location of modelled TEM conductor in southern area (yellow hatch). Yellow circles in north area are approx. locations of modelled steeply dipping conductive plates. White circles are locations of small coincident gravity-magnetic-TEM anomalies. Overall dimensions of EM anomalies in north area unknown. Grid GDA 94 Z53.

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Southern Area

Geophysical modelling has highlighted an EM conductor in the southern area coincident with a gravity and magnetic anomaly (Figures 2 and 3) bounded by interpreted N and NE trending lineaments (Figure 3). Although all components of the coincident magnetic-gravity-conductivity anomaly are weak, the modelling suggests that elevated concentrations of sulphides may occur between about 250 and 500m depth.

Conductivity depth images (CDI’s, Figure 4a) suggest that conductive rocks occur at around 300m and are separate from shallow highly conductive material, probably saline aquifers, in the cover. The EM conductor is shown as Plate 07 in the TEM model (Figure 4b). Modelled dimensions are around 800m long and 700m wide, similar to that of the gravity anomaly. The gravity and magnetic components of the coincident anomaly are interpreted to represent felsic rocks with about 5% dense non-magnetic minerals such as hematite and sulphides with less than 0.1% magnetite. The data suggests that it is not likely to be an iron rich IOCG system, however the intersecting deeply-weathered regional lineaments suggest a possible zone of dilation, giving it a potentially interesting address.

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Figure 3: Southern Area. Modelled EM conductor (black hatch) and EM survey lines over residual magnetic image and interpreted lineaments (black lines).

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Figure 4a: Southern Area Line 6517000N. TEM, residual gravity (red) and magnetic (blue) profiles and conductivity depth image.

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Plate 07
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Figure 4b: Southern Area Line 6517000N. Response (profiles) and CDI generated from the response of a model comprising a half-space model (58 mS/m) with ten horizontal conductive plates.

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Northern Area

Two steeply dipping conductive sheets (Figures 2, 5 a&b) have been interpreted on the southern most line in the northern area. Their high conductances suggest that they might represent sulphides in steeply dipping faults or fractures, presumably within the cover rocks, however graphite as a source of the conductivity cannot be ruled out. The top centre of Plate 1 in the model is at (751010E, 6523250N) at 53m depth and is very close to vertical. The top of Plate 2 in the model is at (751540E, 6523250N) and 103 metres depth. While these TEM anomalies appear on either flank of a north-south gravity high there are no gravity data points within 200m of this southernmost TEM line. The gravity high is inferred by interpolation.

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Figure 5a: Northern Area Line 6523250N. TEM, magnetic (blue) and gravity (red) profiles and conductivity depth image.

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Figure 5b: Northern Area Line 6523250N. Plate-in-host model simulation for data in Figure 5a showing steeply dipping modelled conductive plates 01 and 02.

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Two small coincident magnetic -gravity -TEM highs have also been identified in the northern area at approx. 370 and 400m depth:

Body 1

Just enough of this feature is seen at the north end of north-south TEM line 751400E to permit construction of a plate-in-host TEM model whose profiles and CDI response, shown in Figure 6a&b, suggest that the maximum conductivity occurs at about 370m depth (Plate 01). This is associated with weak but coincident magnetic (2 nT) and gravity (0.2 mGal) highs. Modelling suggests less than 0.1% magnetite and 15% of a dense non-magnetic component such as hematite and sulphides. Due to the associated electrical conductivity the 15 percent estimate for the hematite and sulphide component may represent more sulphides than hematite.

Body 2

A residual gravity high at (752000E, 6524000N) coincides with a residual magnetic high, and both anomalies occur barely 150m west of a conductivity anomaly seen in the eastern end of the CDI for line 6524000N (Figure 7). The residual magnetic and gravity high can be simulated using a body with the properties of felsic rock with 5.5% percent hematite and sulphides and less than 1% magnetite.

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Figure 6a: Northern Area Line 751400E. TEM profiles and conductivity depth image.

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Figure 6b: Northern Area Line 751400E. Plate-in-host model simulation for the north-south CDI in Figure 6a. Maximum conductivity is interpreted to be near 370m depth.

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Figure 7: Northern Area Line 6524000N. TEM, magnetics (blue) and gravity (red) profiles and conductivity depth image.

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Follow up Work

A number of drill holes are proposed to test the coincident gravity-magnetic-EM anomalies in both areas and the steeply dipping conductors in the northern area for any economic sulphide accumulations at depth. Although none of the conductors identified can be readily attributed to classic IOCG mineralization due to their relatively low gravity modelled iron contents they still have the potential to host economic copper sulphide mineralization in the cover rocks and/or basement. The applicable mineralisation models for the Pernatty anomalies are however uncertain at this stage.

The eastern Gawler Craton is a significant copper province and economic copper mineralization occurs in cover rocks at Mt Gunson, 40km to the west and in the basement at the Carrapateena IOCG deposit 20km to the northwest. As there has been no drilling in the area the local depth to basement is unknown, and the conductivity contrast between the cover rocks and basement is insufficient to determine a clear interface in the CDIs.

Vulcan, Vulcan West and Titan Projects – EL 6416 (Tasman 100%, Fortescue earning 51%).

Fortescue Agreement

Tasman Resources Ltd (“Tasman”) and FMG Resources Pty Ltd, a subsidiary of Fortescue Metals Group Ltd (ASX:FMG “Fortescue”) executed a Farm-in and Joint Venture Agreement (“Agreement”) over Tasman’s wholly owned Exploration Licence 6416 in June 2019 (Refer to TAS:ASX Announcement 14 June 2019).

EL6416 hosts the Vulcan, Vulcan West and Titan iron oxide-copper-gold (“IOCG”) prospects, approximately 30km north of BHP’s Olympic Dam mine in South Australia

Work Carried Out During the Quarter by Fortescue

Summary

During the quarter Fortescue has focused on the preparation, planning and engagement of a contractor for a detailed ground gravity survey. In addition, re-logging of drill core from the Titan Prospect continued. Three Vulcan holes have been processed through the HyLogger at the State Government drill core storage facility.

Historical Exploration Data Review

Review of historic exploration activities continued during the quarter including evaluation of drilling, geochemical, and geophysical data. Ten drill holes from the Titan Prospect have been logged. Preparation of drill core from Vulcan prospect for re-logging and HyLogger scanning is nearing completion.

Geophysics

A detailed ground gravity survey commenced on 1st December. The survey is expected to include approximately 19,000 gravity stations, comprising full-tenement gravity coverage of 400m x 400m, 200m x 200m spacing over areas of interest, through to high resolution 100m x 100m spacing over selected areas.

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Drill Sample Assays

Fortescue has commenced planning of a geochemical vectoring program aimed at developing a methodology for quantifying the relative abundances and distribution of magnetite and hematite throughout the Vulcan IOCG mineral system. A representative suite of drill core samples sourced from previously crushed material will be submitted for analysis in Q1 2020 comprising FTIR, SatMagan, DTR, XRF and QXRD methods. This dataset will then be incorporated into a machine learning environment to validate the use of FTIR and/or SatMagan techniques as rapid and costeffective vectoring methods moving forward. The samples will also be scanned using the HyLogger and analysed for fluorine, which is a useful pathfinder element for IOCG systems.

Spectral Analysis

During the period, the Geological Survey of South Australia completed HyLogger spectral scanning of drill holes VUD001, VUD009 and VUD015. These holes were selected to provide a cross-section of the northern limb of the Vulcan prospect. The spectral analysis will provide additional detail on the range of alteration and mineralization as well as high resolution imagery. The results and report from these scans are expected in Q1 2020.

Program for the March Quarter

Work planned by Fortescue for the next quarter includes:

• Continued review, re-logging and data collation of Titan and Vulcan drill core

• Commence selected re-assaying of Titan and Vulcan drill core where necessary

• Analysis of samples for hematite/magnetite geochemical vectoring program

• On ground reconnaissance for future access preparation

• Completion of ground gravity survey

• Commencement of geophysical modelling and preliminary target generation.

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Background on Vulcan and Vulcan West

(Note: All information provided in this section has been previously announced to the ASX by Tasman.)

Vulcan is located 30km NNE of the giant Olympic Dam IOCG deposit and is a very large IOCG system, where drilling to date has intersected a number of very thick intervals of alteration and low-grade mineralisation over a large target area (about 12km[2] ).

Vulcan West occupies a very geophysically anomalous and interesting zone (around 50km[2] ) between, Vulcan and Titan, another very large IOCG system within Tasman’s Exploration Licence 5499 (see Figure 8). Other regional IOCG targets within Tasman’s EL6416 are also shown in Figure 8.

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Tasman EL6416
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Figure 8: Regional residual gravity image over Tasman’s Exploration Licence 6416, showing the location of Olympic Dam, Tasman’s IOCG prospects and the area of the 2018 gravity infill survey and modelling (Vulcan West). (GDA 94, MGA Zone 53)

As previously reported (see Tasman’s ASX Quarterly Report for the quarter ending 31 March 2018) the infill gravity survey completed in January 2018 over a previously undrilled section of the Exploration Licence, provided high quality data to enable detailed geophysical modelling (combined gravity and magnetics) over an area considered prospective for discovery of IOCG deposits. A number of potential drill targets were identified in this modelling, and as suspected, a number of these targets are at shallower depth than the nearby large Vulcan IOCG system.

Regional MT surveys conducted by the University of Adelaide have suggested that Vulcan and Olympic Dam share a very deep underlying zone of anomalously conductive rocks that are postulated to represent a zone of fluid migration, which was critical in the formation of these two very large IOCG systems.

Figure 2 (see Figure 1 for location) shows the residual gravity response obtained from the new geophysical processing and modelling over the main area of interest at Vulcan West and clearly highlights a number of distinctive anomalies. Combined modelling of this gravity data with existing magnetics has defined a number of potential drill targets at a variety of depths (Figure 2):

• Target A: Modelled depth of about 650m

• Target B: Modelled depth of about 700m

• Target C: Modelled depth of about 680m

• Target D: Modelled depth of about 850m

• Target E: Modelled depth of about 700m

• Target F: Modelled depth of about 750m

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Figure 9: Detailed plan of residual gravity at Vulcan West, based on all available data. Red/magenta colours are areas of stronger residual gravity, generally indicating areas likely to be underlain by denser, more iron-rich rock, potentially IOCG systems. The letters A, B C etc. refer to individual modelled bodies. Also shown in plan, at the same scale is an outline of the Carrapateena IOCG deposit, located 125km to the SE. Clearly there is potential for the Vulcan West area (especially Targets A & C) to host Carrapateena-size deposits at attractive depths.

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Figure 10: Location of Tasman’s Exploration Project Areas in South Australia.

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INVESTMENT IN EDEN INNOVATIONS LTD (ASX Code: EDE)

Tasman through its wholly owned subsidiary, Noble Energy Pty Ltd, holds 624,634,707 fully paid shares in Eden (representing 36.24% of the total issued capital of Eden) and 14,814,815 EDEOB options in Eden. Based on the closing price on the ASX of EDE ($0.039) and EDEOB ($0.018) on 31 December 2019, this investment had a market value of $24.6 million, which is equivalent to 5 cents for every currently issued TAS share.

The board of Tasman believes there is potentially significant upside in its investment in Eden and as a major part of Tasman’s investment strategy it intends to continue to hold the Eden shares as a long term investment.

The highlights of progress made by Eden during the quarter are included in the Eden quarterly activities report.

INVESTMENT IN CONICO LTD (ASX Code: CNJ)

Tasman holds 50,660,821 fully paid shares and 5,184,536 CNJO options in potential cobaltnickel producer Conico Ltd (“Conico”), representing 13.18% of the total issued capital of Conico. Based on the closing price on the ASX of CNJ ($0.01) on 31 December 2019, this investment had a market value of $0.5 million.

The highlights of progress made by Conico during the quarter are included in the Conico quarterly activities report.

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Greg Solomon Executive Chairman

Disclaimer

The interpretations and conclusions reached in this report are based on current geological theory and the best evidence available to the authors at the time of writing. It is the nature of all scientific conclusions that they are founded on an assessment of probabilities and, however high these probabilities might be, they make no claim for complete certainty. Any economic decisions that might be taken on the basis of interpretations or conclusions contained in this report will therefore carry an element of risk.

It should not be assumed that the reported Exploration Results will result, with further exploration, in the definition of a Mineral Resource.

Competent Persons Statement

The information in this quarterly report that relates to Exploration Results is based on and fairly represents information compiled by Michael J. Glasson, a Competent Person who is a member of the Australian Institute of Geoscientists.

Mr Glasson is an employee of the company. Mr Glasson is a share and option holder.

Mr Glasson has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Glasson consents to the inclusion in the report of the matters based on their information in the form and context in which it appears.

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Interests in Mining Tenements

Tenements	Location	Interest held at end of quarter	Acquired during the quarter	Disposed during the quarter
EL 6416*	SA	100%
EL 5602	SA	100%
EL 6137	SA	100%

*Subsequent licence to EL 5499

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THE FOLLOWING TABLES ARE PROVIDED TO ENSURE COMPLIANCE WITH THE JORC CODE (2012 EDITION) FOR THE REPORTING OF EXPLORATION RESULTS. PERNATTY PROJECT

Section 1 Sampling techniques and data

JORC CODE (2012 EDITION) FOR THE REPORTING OF EXPLORATION RESULTS. PERNATTY PROJECT	JORC CODE (2012 EDITION) FOR THE REPORTING OF EXPLORATION RESULTS. PERNATTY PROJECT	JORC CODE (2012 EDITION) FOR THE REPORTING OF EXPLORATION RESULTS. PERNATTY PROJECT
Section 1 Sampling techniques and data
	(criteria in this group apply to all succeeding groups)
Criteria	**JORC Code explanation **	Commentary
Sampling techniques.	 Nature and quality of sampling (EG 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.  Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.  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 (eg “reverse circulation drilling was used to obtain 1m samples from which 3 kg was pulverised to produce a 30g 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 (eg submarine nodules) may warrant disclosure of detailed information.	 No drilling or sampling is reported. A moving loop ground EM survey was carried out. An EMIT SMARTem 24 receiver was used to take all of the EM data. Data were sensed using a 3- component RVR coil. Transmitted fields were generated with a Zonge GGT30 geophysical transmitter powered by aZMG-30 genset. MLEM output current/ramp times were around 38A/640μs at 1Hz for most of the survey. An EMIT transmitter controller was used to control transmitter wave form and was synchronised via GPS. The double-turn, 200x200m transmitter loop was constructed using insulated 4mm2multistrand copper wire.  For each station at least three blocks or stacks of data were acquired (more blocks or stacks if there was a noisy decay) to allow editing and assessment of data repeatability.  Not Applicable (NA) – no drilling or sampling is reported.
Drilling techniques.	 Drill type (eg. core, reverse circulation, open- hole hammer, rotary air blast, auger, Bangka 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 if so, by what method, etc.).	 Not Applicable (NA) – no drilling or sampling is reported.
Drill sample recovery.	 Whether core and chip sample recoveries have been properly recorded and results assessed.  Measures taken to maximise sample recovery and ensure representative nature of the samples.  Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	 Not Applicable (NA) – no drilling or sampling is reported.  Not Applicable (NA) – no drilling or sampling is reported.  Not Applicable (NA) – no drilling or sampling is reported.
Logging.	 Whether core and chip samples have been logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.  Whether logging is qualitative or quantitative in nature. Core (or costean, channel etc.) photography.  The total length and percentage of the relevant intersections logged.	 Not Applicable (NA) – no drilling or sampling is reported.  Not Applicable (NA) – no drilling or sampling is reported.  Not Applicable (NA) – no drilling or sampling is reported.

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Sub-sampling techniques and sample preparation.	 If core, whether cut or sawn and whether quarter, half or all core taken.  If non-core, whether riffled, tube sampled, rotary split etc. and 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 situ material collected.  Whether sample sizes are appropriate to the grainsize of the material being sampled.	 Not Applicable (NA) – no drilling or sampling is reported.  Not Applicable (NA) – no drilling or sampling is reported.  Not Applicable (NA) – no drilling or sampling is reported.  Not Applicable (NA) – no drilling or sampling is reported.  Not Applicable (NA) – no drilling or sampling is reported.  Not Applicable (NA) – no drilling or sampling is reported.
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.  For geophysical tools, spectrometer, 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, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie. lack of bias) and precision have been established.	 Not Applicable (NA) – no drilling or sampling is reported.  Not Applicable (NA) – no drilling or sampling is reported.  Not Applicable (NA) – no drilling or sampling is reported.
Verification of sampling and assaying.	 The verification of significant intersections by either independent or alternative company personnel.  The use of twinned holes.  Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.  Discuss any adjustment to assay data.	 Not Applicable (NA) – no drilling or sampling is reported.  Not Applicable (NA) – no drilling or sampling is reported.  Not Applicable (NA) – no drilling or sampling is reported.  Not Applicable (NA) – no drilling or sampling is reported.
Location of data points.	 Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.  Specification of the grid system used.  Quality and adequacy of topographic control.	 Not Applicable (NA) – no drilling or sampling is reported.  The grid system used is Geodetic Datum of Australia 1994; MGA Zone 53.  Topography based on good quality datafromprevious gravity survey

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Data spacing and distribution.	 Data spacing for reporting of Exploration Results.  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.  Whether sample compositing has been applied.	 EM surveying was conducted on 250m line spacings in the southern area and 250 to 1000m spacings in the norhern area.  Station spacing along the lines was 100m.  Not Applicable (NA) – no drilling or sampling is reported.  Not Applicable (NA) – no drilling or sampling is reported.
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.  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.	 Not Applicable (NA) – no drilling or sampling is reported.  Not Applicable (NA) – no drilling or sampling is reported.
Sample security	 The measures taken to ensure sample security.	 Not Applicable (NA) – no drilling or sampling is reported.
Audits or reviews.	 The results of any audits or reviews of sampling techniques and data.	 Not Applicable (NA) – no drilling or sampling is reported.

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Section 2 Reporting of Exploration Results (criteria listed in the preceding group apply also to this group)
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.  The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	 Exploration Licence No 6137 is located approximately 80km ESE of Woomera in South Australia and is owned 100% by Tasman Resources Ltd. There are no joint ventures, partnerships or royalties involved. The EL is covered by the Kokatha Native Title Claim Settlement ILUA S12014/011 and agreements between the claimants and Tasman designed to protect Aboriginal heritage sites. There are no historical or wilderness sites or national parks or known environmental settings.  Tasman has secure tenure over the EL at the time of reporting and there are no known impediments to obtaining a licence to operate in the area.
Exploration done by other parties.	 Acknowledgment and appraisal of exploration by other parties.	 Very little previous exploration has been carried out within the tenement area. This work appears to have been confined to government gravity and magnetic surveys and some limited infill gravity surveying by a previous explorer.
Geology.	 Deposit type, geological setting and style of mineralisation.	 The type of deposit sought is an iron-oxide, copper gold type system (IOCG), similar to the Carrapateena deposit, about 20km to the NW. Carrapateena occurs within basement rocks beneath approximately 400m of younger, flat-lying sedimentary cover rocks. No drilling has been completed within Tasman’s EL6137 and hence subsurface geology and depth to older basement in the tenement are uncertainat this stage.
Drill hole informa _tion. _	 A summary of all information material to the 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 above sea level in metres) of the drill hole collar  Dip and azimuth of the hole  Down hole length and interception depth  Hole length	 Not Applicable (NA) – no drilling or sampling is reported.  Not Applicable (NA) – no drilling or sampling is reported.  Not Applicable (NA) – no drilling or sampling is reported.  Not Applicable (NA) – no drilling or sampling is reported.  Not Applicable (NA) – no drilling or sampling is reported.  Not Applicable (NA) – no drilling or sampling is reported.

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Data aggregation methods.	 In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg. cutting of high grades) and cut-off grades are usually material and should be stated.  Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.  The assumptions used for any reporting of metal equivalent values should be clearly stated.	 Not Applicable (NA) – no drilling or sampling is reported.  Not Applicable (NA) – no drilling or sampling is reported.  Not Applicable (NA) – no drilling or sampling is 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 (eg. ‘downhole length, true width not known’).	 Not Applicable (NA) – no drilling or sampling is reported.  Not Applicable (NA) – no drilling or sampling is reported.  Not Applicable (NA) – no drilling or sampling is reported.
Diagrams.	 Where possible, maps and sections (with scales) and tabulations of intercepts should be included for any material discovery being reported if such diagrams significantly clarify the report.	 Appropriate geophysical maps are included in 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.	 Not Applicable (NA) – no drilling or sampling is reported.
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.	 Geophysical results are reported in the report. No other substantive exploration data is reported.
Further work.	 The nature and scale of planned further work (eg. 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	 The nature of planned further work is included in the report.  Please refer to information in the report.

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