Skip to main content

AI assistant

Sign in to chat with this filing

The assistant answers questions, extracts KPIs, and summarises risk factors directly from the filing text.

TECHGEN METALS LTD Capital/Financing Update 2024

Aug 26, 2024

65913_rns_2024-08-26_22f54e3c-c237-4242-bcbb-5ed0272a11e2.pdf

Capital/Financing Update

Open in viewer

Opens in your device viewer

==> picture [596 x 120] intentionally omitted <==

----- Start of picture text -----

9 [th] November2023 27 [th] August 2024
----- End of picture text -----

7.05% ANTIMONY (Sb) Identified at Station Creek Project (WA)

TechGen Metals Limited (“ TechGen ” or the “ Company ”) is pleased to provide an exploration update at its 100% owned Station Creek Project located 70km southwest of Paraburdoo in northern Western Australia (Figure 2; Photos 1 - 4). The project comprises Exploration Licence E08/2946 covering an area of 54km[2] .

The Station Creek Project contains sedimentary rock units of the Ashburton Basin and Blair Basin, part of the Proterozoic-aged Capricorn Orogen. The project is considered highly prospective for structurally controlled critical, base metal and precious metal mineralisation.

ANNOUNCEMENT HIGHLIGHTS

  • Previous rock chip samples up to 7.05% Antimony (Sb) recorded in the project area.

  • Significant rock chip assays include 7.05%, 2.25%, 2.13%, 1.94% & 1% antimony.

  • Limited soil sampling outlines a +15ppm Antimony soil anomaly 1.2km x 400m in size.

  • Project area has seen no previous focussed exploration for antimony.

  • Antinomy geochemistry and high-grade rock chips remain untested by drilling.

  • Antimony is listed as a Critical Mineral by the USA, EU and Australia, essential for military applications, batteries, and now subject to China’s latest export restrictions.

TechGen’s Managing Director, Ashley Hood, commented : “Our recent identification of up to 7.05% antimony at the Station Creek Project is a significant development for the Company, especially given that no focussed exploration for antimony has been conducted in the area, with a number of samples previously recording +1% antinomy across several targets. With China’s recent move to restrict antimony exports, and its critical role in military equipment, this strategic mineral has become even more important. We are prioritising ongoing exploration to fully understand the potential of this critical project, especially given the size of the geochemistry target, outstanding high-grade rock-chips and the ever-growing critical need for antimony in Australia, the EU, and the USA.”

==> picture [248 x 175] intentionally omitted <==

==> picture [251 x 177] intentionally omitted <==

Photo 1 & 2: Photo 1, Rock chip sample SCR9 with 1% Sb, 30.2% Cu and 151g/t Ag from Station Creek Project (Photo 2.).

ABN: 66 624 721 035 | Registered Office: 683 Murray Street, West Perth 6005 Telephone: +61 427 268 999 | Email: [email protected] | Website: techgenmetals.com.au

==> picture [596 x 120] intentionally omitted <==

----- Start of picture text -----

9 [th] November2023 27 [th] August 2024
----- End of picture text -----

In the early 1980’s, Uranerz Australia Pty Ltd explored the Station Creek Project area for uranium and this work identified very anomalous levels of antimony (Sb) in rock chip samples (Table 1 & Figure 1). Three rock chip samples are recorded by Uranerz Pty Ltd from the Station Creek Prospect with antimony assays of 7.05%, 2.25% and 2.13% Sb associated with very anomalous levels of Cu, Au, Ag, As and Bi.

Table 1. Rock chip samples taken by Uranerz Australia Pty Ltd at the Station Creek Prospect.

SampleID Easting Northing Sb % Cu % **Auppm ** **Ag ppm ** As % **Bippm **
341A0058 499850 7406780 2.25 28.0 1.7 175 4.75 590
341A0059 499860 7406780 7.05 25.6 2.4 440 17.0 1120
341A0099 499870 7406780 2.13 11.4 0.4 315 2.95 340

In the late 1990’s, Bacome Pty Ltd explored the Station Creek Project area for gold and base metals and undertook stream sediment sampling, rock chip sampling and drilled seven RC drill holes and one diamond drill hole for a total of 837.2 metres of drilling. No assays are recorded for the diamond drill hole.

The seven historic RC holes were sampled throughout either by 4m composite, 2m composite or 1m samples and assayed for Au, Cu, Zn, Ag and Pb. Four samples from hole SCPH004, four samples from hole SCPH007 and 2 samples from hole SCPH008 were also assayed for antimony returning a best intercept of 1m @ 2,350ppm Sb from 5-6m in hole SCPH007. The 10 antimony drill samples are given in Table 2.

Table 2. RC drill sample results assayed for antimony by Bacome Pty Ltd at the Station Creek Project.

Hole ID Easting Northing EOH From To Sb
**ppm **
Cu
**ppm **
Au
**ppb **
Ag
**ppb **
As
**ppm **
Bi
**ppm **
SCPH001 500196 7406265 100
SCPH002 500230 7406325 88
SCDH003 499650 7406585 123.2
SCPH004 499280 7406570 154 72 73 72 1100 11 260 170 6
SCPH004 499280 7406570 154 72 76 35 520 12 145 68 5.2
SCPH004 499280 7406570 154 76 80 70 820 23 200 54 11.4
SCPH004 499280 7406570 154 90 93 70 720 58 90 57 64
SCPH005 500170 7406350 90
SCPH006 500150 7406355 142
SCPH007 499560 7406530 58 5 6 2350 6000 56 280 620 72
SCPH007 499560 7406530 58 6 7 580 7800 30 580 245 10.6
SCPH007 499560 7406530 58 13 14 860 3700 84 920 280 8.8
SCPH007 499560 7406530 58 30 31 1080 2300 39 860 300 5.6
SCPH008 499415 7406440 82 36 37 21 1250 7 370 46 1.5
SCPH008 499415 7406440 82 62 63 240 1950 43 1700 210 4

ABN: 66 624 721 035 | Registered Office: 683 Murray Street, West Perth 6005 Telephone: +61 427 268 999 | Email: [email protected] | Website: techgenmetals.com.au

==> picture [596 x 120] intentionally omitted <==

----- Start of picture text -----

9 [th] November2023 27 [th] August 2024
----- End of picture text -----

Exploration by TechGen for base metals at the Station Creek Project has included limited soil sampling (430 samples), limited rock chip sampling (54 samples) and RC drilling of IP and copper targets (12 holes for 1,536m). Review of these results has indicated anomalous antimony in soil results (Peak 107ppm Sb) and rock chip results (Peak 1.94% Sb) associated with Au, Ag, As, Bi and Cu anomalism. A +15ppm Sb soil anomaly 1.2km long x 400m wide has been identified in the vicinity of the Station Creek Prospect, where rock chip sampling by Uranerz Australia Pty Ltd returned high-grade antimony. TechGen rock chip samples also record high-grade antimony values of 1.94% Sb at the TA2 Prospect and 1% Sb at the TA1 Prospect (Figure 1). Fourteen of the fifty-four rock chip samples taken by the Company have antimony values >1,000ppm Sb with a maximum of 1.94% Sb (19,400ppm Sb) and a minimum of 7ppm Sb. Rock chip samples with >1,000ppm Sb are given in Table 3 and are from three main areas, the Station Creek Prospect, TA1 Prospect and TA2 Prospect areas.

Table 3. Rock chip samples >1,000ppm antimony taken by TechGen at the Station Creek Project.

Sample ID Easting Northing **Sb_ppm ** **Sb_% ** **Au_ppm ** **Ag_ppm ** **As_ppm ** **Bi_ppm ** **Cu_% **
SCR9 502393 7406123 10000 1% 0.249 151 >10000 1150 30.2
SCR15 500280 7407080 1600 0.01 16.4 1390 114 4.35
SCR18 499431 7406674 2610 0.028 50.5 1165 682 6.86
SCR23 502303 7406105 2940 0.313 28.9 2050 871 17.35
SCR25 502303 7406105 1905 0.014 0.19 2900 25.1 0.254
SCR26 502320 7406103 2380 0.073 6.66 1345 298 9.95
SCR34 502380 7406128 8600 0.366 257 >10000 260 50.5
SCR35 502381 7406130 2620 0.271 249 >10000 220 54.8
SCR36 502396 7406125 7210 0.428 164 >10000 2060 47.3
SCR43 502389 7406363 9700 1.83 2340 8230 259 27.4
SCR44 502338 7406115 1895 0.244 144 1380 361 5.44
SCR50 503330 7405680 7770 2 24.3 1095 5880 18.85
SCR52 500143 7407141 2200 0.588 40.4 471 134 15.1
SCR54 503262 7405688 19400 1.94% 1.48 92.3 7700 6720 16.45

The Station Creek Project has been explored previously for uranium, base metals and gold but has had no specific exploration for antimony. On review of exploration data from across the project area antimony anomalism is widespread and further work is currently being planned to assess the projects potential.

ABN: 66 624 721 035 | Registered Office: 683 Murray Street, West Perth 6005 Telephone: +61 427 268 999 | Email: [email protected] | Website: techgenmetals.com.au

==> picture [596 x 120] intentionally omitted <==

----- Start of picture text -----

9 [th] November2023 27 [th] August 2024
----- End of picture text -----

==> picture [514 x 425] intentionally omitted <==

Figure 1. Map showing antimony soil anomaly and better antimony rock chip sample locations at Station Creek Project.

==> picture [244 x 165] intentionally omitted <==

==> picture [234 x 165] intentionally omitted <==

Photo 3 & 4: Photo 3, Soil geochemistry sample packet and Photo 4, Station Creek Project location and station access track.

ABN: 66 624 721 035 | Registered Office: 683 Murray Street, West Perth 6005 Telephone: +61 427 268 999 | Email: [email protected] | Website: techgenmetals.com.au

==> picture [596 x 120] intentionally omitted <==

----- Start of picture text -----

9 [th] November2023 27 [th] August 2024
----- End of picture text -----

==> picture [523 x 360] intentionally omitted <==

----- Start of picture text -----

STATION CREEK
(7.05 % Sb)
----- End of picture text -----

Figure 2. Map showing the Company’s Station Creek & Mt Boggola Projects in the Ashburton Mineral Field of Western Australia.

References

Davey, G. & Taylor, K.S, 1983. Final Report on Temporary Reserves 8808, 8809 and 8810 Ashburton Downs, Ashburton Mineral Field. Uranerz Australia Pty Ltd (WAMEX Report A11798).

Boddington, T., 1998. Ashburton Project, Combined Annual Report E08/882, E08/883, E08/920. 1 January 1997 – 31 December 1997. Bacome Pty Ltd (WAMEX Report A53655).

ENDS

ABN: 66 624 721 035 | Registered Office: 683 Murray Street, West Perth 6005 Telephone: +61 427 268 999 | Email: [email protected] | Website: techgenmetals.com.au

==> picture [596 x 120] intentionally omitted <==

----- Start of picture text -----

9 [th] November2023 27 [th] August 2024
----- End of picture text -----

About TechGen Metals Limited

==> picture [433 x 358] intentionally omitted <==

TechGen is an Australian registered exploration Company with a primary focus on exploring and developing its gold, copper (+/- nickel/PGE) and uranium projects strategically located in highly prospective geological regions in WA, and one in NSW.

For more information, please visit our website: www.techgenmetals.com.au

Authorisation

For the purpose of Listing Rule 15.5, this announcement has been authorised for release by the Board of Directors of TechGen Metals Limited.

Competent Person Statement

The information in this announcement that relates to Exploration Results is based on and fairly represents information compiled and reviewed by Andrew Jones, a Competent Person who is a member of the Australasian Institute of Mining and Metallurgy (AusIMM). Andrew Jones is employed as a Director of TechGen Metals Limited. Andrew Jones has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 edition of the Australasian Code of Reporting of Exploration Results, Mineral Resources and Ore Reserves. Andrew Jones consents to the inclusion in this announcement of the matters based on his work in the form and context in which it appears.

ABN: 66 624 721 035 | Registered Office: 683 Murray Street, West Perth 6005 Telephone: +61 427 268 999 | Email: [email protected] | Website: techgenmetals.com.au

==> picture [596 x 120] intentionally omitted <==

----- Start of picture text -----

9 [th] November2023 27 [th] August 2024
----- End of picture text -----

Previously Reported Information

Any information in this announcement that references previous exploration results is extracted from previous ASX Announcements made by the Company.

Forward Looking Statements

Certain information in this document refers to the intentions of TechGen, however these are not intended to be forecasts, forward looking statements, or statements about the future matters for the purposes of the Corporations Act or any other applicable law. Statements regarding plans with respect to TechGen’s projects are forward looking statements and can generally be identified using words such as ‘project’, ‘foresee’, ‘plan’, ‘expect’, ‘aim’, ‘intend’, ‘anticipate’, ‘believe’, ‘estimate’, ‘may’, ‘should’, ‘will’ or similar expressions. There can be no assurance that the TechGen’s plans for its projects will proceed as expected and there can be no assurance of future events which are subject to risk, uncertainties and other actions that may cause TechGen’s actual results, performance, or achievements to differ from those referred to in this document. While the information contained in this document has been prepared in good faith, there can be given no assurance or guarantee that the occurrence of these events referred to in the document will occur as contemplated. Accordingly, to the maximum extent permitted by law, TechGen and any of its affiliates and their directors, officers, employees, agents and advisors disclaim any liability whether direct or indirect, express or limited, contractual, tortuous, statutory or otherwise, in respect of, the accuracy, reliability or completeness of the information in this document, or likelihood of fulfilment of any forward-looking statement or any event or results expressed or implied in any forward-looking statement; and do not make any representation or warranty, express or implied, as to the accuracy, reliability or completeness of the information in this document, or likelihood of fulfilment of any forward-looking statement or any event or results expressed or implied in any forward-looking statement; and disclaim all responsibility and liability for these forward-looking statements (including, without limitation, liability for negligence).

For further information, please contact:

Mr Ashley Hood, Managing Director P: +61 427 268 999 E: [email protected] www.techgenmetals.com.au

ABN: 66 624 721 035 | Registered Office: 683 Murray Street, West Perth 6005 Telephone: +61 427 268 999 | Email: [email protected] | Website: techgenmetals.com.au

JORC Code, 2012 Edition – Table 1 report template Section 1 Sampling Techniques and Data

JORC Code, 2012 Edition – Table 1 report template
Section 1 Sampling Techniques and Data
JORC Code, 2012 Edition – Table 1 report template
Section 1 Sampling Techniques and Data
(Criteria in this section applyto all succeedingsections.)
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 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 (eg submarine nodules) may
warrant disclosure of detailed information.

Sampling discussed by Uranerz Australia Pty Ltd and Bacome Pty Ltd is historical and
the size and nature of sampling is unknown with minimal information provided in annual
reports.

Uranerz Australia Pty Ltd rock chip samples were assayed at SGS by AAS-XRF.

Bacome Pty Ltd RC drill samples were assayed by Genalysis by the B/AAS technique.

TechGen rock chip samples were of average 1kg weight.

The rock chip samples were delivered to ALS Laboratories in Perth.

Samples were crushed and pulverised.

Samples were assayed by ICP-MS, ICP-AES and Fire Assay.

The laboratory used internal standards to ensure quality control.
Drilling
techniques

Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger,
Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of
diamond tails, face-sampling bit or other type, whether core is oriented and if so, by
_what method, etc). _

Bacome Pty Ltd undertook diamond core drilling and reverse circulation drilling. The
core size and hammer sizes are not recorded. Wallis Drilling did the work.
Drill
sample
recovery

Method of recording and assessing core and chip sample recoveries and results
assessed.

Measures taken to maximise sample recovery and ensure representative nature of the
samples.

Whether a relationship exists between sample recovery and grade and whether sample
bias may have occurred due to preferential loss/gainof fine/coarse material.

All drilling is previous and this is not reported so is unknown.
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.

Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc)
photography.

_The total length and percentage of the relevant intersections logged. _

Geological logs of diamond core hole and reverse circulation holes for the full hole
lengths are recorded.
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, including for instance results for field duplicate/second-half sampling.

Whether sample sizes are appropriate to the grain size of the material being sampled.

Uranerz Australia Pty Ltd rock chip sample weights are not recorded. QAQC
procedures are not recorded.

Bacome Pty Ltd sampling method of reverse circulation drill holes is not recorded.
Some samples are 4m composites, some 2m composites and some 1m samples. .
QAQC procedures are not recorded.

TechGen rock chip sample weights averaged 1kk and these are considered
appropriate.

The samples were taken from outcrop areas in the field.
Criteria JORC Code explanation Commentary
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, spectrometers, handheld XRF instruments, etc, the parameters
used in determining the analysis including instrument make and model, reading times,
calibrations factors applied and their derivation, etc.

Nature of quality control procedures adopted (eg standards, blanks, duplicates,
external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias)
and precision have been established.

Uranerz Australia Pty Ltd rock chip samples were assayed at SGS by AAS-XRF.
QAQC procedures are not recorded.

Bacome Pty Ltd RC drill samples were assayed by Genalysis by the B/AAS
technique. QAQC procedures are not recorded.

TechGen rock chip samples were delivered to Australian Laboratory Services Pty
Ltd (ALS) in Perth where they were sorted, dried, crushed to 3mm particle size,
cone split, and a portion pulverized.

Multi-element analysis was determined by a four-acid digest on a 0.25g of sample,
analysis was via ICP-MS and ICP-AES. HNO₃-HClO₄-HF acid digestion, HCl leach
(ALS code ME-MS61). This analysis dissolves nearly all minerals in the majority
of geological samples, paired with ICP-MS and ICP-AES analysis provide super-
trace detection limits. The rare earth elements are not fully extracted in a four-acid
digestion.

Samples that returned Cu grades >10,000ppm were analysed by ALS “ore grade”
method Cu-OG62 and Cu-OG62h, which is a 4-acid digestion, followed by AES
measurement to 0.001% Cu. Samples that returned Ag grades >100ppm were
analyses by ALS "ore grade" method Ag-OG62.

Gold assay was determined by Fire Assay (ALS code Au-ICP21).
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.

Uranerz Australia Pty Ltd rock chip samples are historic and these details are not
recorded.

Bacome Pty Ltd reverse circulation drilling samples are historic and these details are
not recorded.

For TechGen rock chips the assay results were checked by separate Company
personnel.

Sample number, GPS coordinates and description were recorded in the field into a
notebook.

No adjustment has been made to assay data.
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.

For Uranerz Australia Pty Ltd and Bacome Pty Ltd the survey technique is not
recorded.

For TechGen rock chip samples the sample coordinates were taken from a Garmin
hand held GPS unit.

The grid system used was MGA94 Zone 50.

Topographic control is considered adequate.
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.

It is not recorded how the Bacome Pty Ltd drill hole sites were chosen.

Rock chip sampling is first pass reconnaissance sampling, spacing is variable and
based on outcrop location and degree of exposure.

Sample spacing is deemed appropriate for identifying geochemical anomalies but
could not be used to establish geological and grade continuity.

Data spacing is deemed insufficient to establish geological and grade continuity to
establish a mineral resource estimate.

No sample compositing has been undertaken.
Orientation
of
data in relation to

Whether the orientation of sampling achieves unbiased sampling of possible structures
and the extent to which this is known, considering the deposit type.

The samples were taken from available outcrops.
Criteria JORC Code explanation Commentary
geological
structure

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.

Bacome Pty Ltd drilling is historic and these details are not recorded.
Sample security
The measures taken to ensure sample security.

For Uranerz Australia Pty Ltd and Bacome Pty Ltd these details are not recorded

For TechGen samples were taken and delivered to ALS Laboratories by Company
personnel.
Audits or reviews
The results of any audits or reviews of sampling techniques and data.

No formal audit has been completed on the data being reported.

Section 2 Reporting of Exploration Results

(Criterialistedinthe preceding sectionalso apply to this section.)
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.
TheStation Creek Projectcomprises a single granted Exploration Licence, namely
E08/2946. The licence covers an area of 54km2. Blue Ribbon Mines Pty Ltd is the registered
holder of E08/2946. TechGen has a 100% interest in the tenement.
The Project lies on the Ashburton Downs (PL N050036) Pastoral Lease and Unallocated
Crown Land.
The Station Creek Project overlies, in part, the Ashburton Downs Pastoral Lease (PL
N050036). Tenement E08/2946 is subject to the Jurruru People Part A native title
determination (WCD2015/002) which incorporates an Indigenous Land Use Agreement
(ILUA).
Exploration done
by other parties

Acknowledgment and appraisal of exploration by other parties.

The Ashburton Mineral Field has a long history of gold, copper, silver, lead and zinc
exploration and is among the oldest in the state.
In the 1970s and 1980s, majors like BHP, Newmont Corporation and BP Minerals began
to explore the Ashburton Basin. This early exploration resulted in the initial identification
of some significant deposits, namely Mt Clement and Mt Olympus.
Geology
Deposit type, geological setting and style of mineralisation.

The Project areas are located within the Ashburton Basin and Blair Basin which forms
the northern part of the Capricorn Orogen.
Drill
hole
Information

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:
o
easting and northing of the drill hole collar
o
elevation or RL (Reduced Level – elevation above sea level in metres) of the drill
hole collar
o
dip and azimuth of the hole
o
down hole length and interception depth
o
hole length.

If the exclusion of this information is justified on the basis that the information is not
Material and this exclusion does not detract from the understanding of the report, the
Competent Person should clearly explain why this is the case.

Bacome Pty Ltd drilling is historic and the details considered relevant are tabulated in
the body of the announcement.
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

There has been no data aggregation.
Criteria JORC Code explanation Commentary
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.
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 ‘down hole length, true width not known’).

Bacome Pty Ltd drilling is historic and the relationships are not discussed in previous
reports.
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 aplan view of drill hole collar locations and appropriate sectional views.

Suitable maps and diagrams have been included 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. _

All results have been included.
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 historic data has been previously discussed and no new exploration data is known.
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.

Further work anticipated:
Future exploration is currently being planned.