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.

UNION STAR METALS LTD Capital/Financing Update 2021

Jun 16, 2021

65987_rns_2021-06-16_95eee910-5b7b-432c-8304-2ea5e75513a2.pdf

Capital/Financing Update

Open in viewer

Opens in your device viewer

ASX ANNOUNCEMENT 17 June 2021

==> picture [66 x 32] intentionally omitted <==

Kalgoorlie – King of The West Highly elevated auger Gold outlines new drill targets

Highlights

  • Auger geochemistry results from a 6km x 3km area reveal several new gold anomalies:

  • Assay results show multiple anomalous trends over 50ppb Au.

  • The southernmost line traverses 1.2kms of anomalous results, including 10 consecutive samples between 55 and 123ppb Au.

  • Significant Au anomaly, open to the south and west.

  • Aircore drilling has commenced at the Black Flag Prospect in Kalgoorlie.

  • Auger grid extension continues to further define the anomalies at King of The West (E27/614) and on E27/571.

==> picture [435 x 408] intentionally omitted <==

Figure 1: PVW Kalgoorlie Project, gold in auger results from E27/614. Yellow dashed contour >40ppb Au.

==> picture [240 x 54] intentionally omitted <==

==> picture [66 x 32] intentionally omitted <==

PVW Resources Limited (PVW or the Company) is excited to announce the results from recent auger drilling on Kalgoorlie tenement E27/614 that have converted the King of The West geophysical target into several new drilling targets.

Numerous anomalous trends have been outlined by the auger drilling with multiple results above 50ppb Au providing new drill targets. The southernmost anomaly is impressive, with a 1.2km portion of the 6km long line returning results 55-123ppb in samples collected at depths between 1 and 3m. Samples on three more lines to the north show a north-northeast regional trend with a lower order anomaly above 40ppb Au over 1.6km.

Company geologists have re-visited the area to ensure the area is free from potential cultural influences, and to confirm the soil profile represents a suitable medium for auger sampling to be extended to the south.

These results are timely with an Aircore drill rig currently drilling at the Black Flag Prospect, located on a separate trend around 7km southwest of the new results.

King of The West Geophysical Target

==> picture [341 x 380] intentionally omitted <==

Figure 2: PVW Kalgoorlie Project, location of recent Auger activities. All historical Kalgoorlie Project exploration drilling results refer to ASX:PVW, Thred Prospectus Appendix A - Independent Geologists Report, Appendix 1. E27/571 Auger Results refer to ASX:PVW announcement 19 April 2021 Kalgoorlie Project – Auger Results Confirm Gold Target.

Page 2 of 21

==> picture [66 x 32] intentionally omitted <==

A feature of King of The West geophysical target is the intersection of a pronounced north-northwest magnetic trend (typical of greenstone units) and northwest faulting that can be traced northwest to the Golden Cities and Federal deposits which are hosted by northwest trending structures in granites. The target is adjacent to the dislocation of two Proterozoic dolerite dykes with apparent displacement.

The structural elements combined with nearby mineralisation (paleochannel and bedrock), positioned on the axial plane of a major regional anticline provide the basis for the conceptual geophysical target.

Ongoing success by Yandal Resources (ASX:YRL, ASX announcement 27 May 2021) is confirmation that local paleochannel mineralisation can have a close link to in-situ supergene and bedrock mineralisation ( ASX : YRL Gordons Dam, Figure 2).

As a first pass to test the King of The West target a 6km x 3km area has been auger drilled on a 400m x 100m spaced grid. Results have been positive with elevated gold contourable above 40ppb Au. Numerous samples above 50ppb Au are located along trends and as multiple sample anomalies. Several northwest trends are visible as are northeast trends. Infill and extensional auger will assist in adding definition to these trends, required prior to Aircore drilling to test for the source of the elevated gold results.

As holes are drilled the samples are assessed for Hydrochloric acid reaction, a strong reaction is preferred for sample collection, the selected sample interval is sieved to -2mm and collected in sample bags. Samples depths for the program averaged 1.6m with a minimum of 0.8m and a maximum of 5m.

Samples are assayed for a multielement suite, the results of which are currently being assessed.

Black Flag Drilling Update

Aircore drilling of the Black Flag prospect has commenced with drilling on 300-400m spaced lines to follow up anomalous gold results returned from previous explorers drilling. The program aims to test possible trends in supergene mineralisation that have not been followed up systematically along strike. A total of approximately 5000m of drilling is planned which is expected to be completed later this month.

==> picture [349 x 262] intentionally omitted <==

Figure 3: PVW Kalgoorlie Project, Aircore drill rig at Black Flag.

Page 3 of 21

==> picture [66 x 32] intentionally omitted <==

Competent Person’s Statement

The information in this document relating to gold exploration activities is based on information compiled by Mr Karl Weber, a professional geologist with over 25 years’ experience in minerals geology including senior management, consulting, exploration, resource estimation, and development. Mr Weber completed a Bachelor of Science with Honours at Curtin University in 1994; is a member of the Australasian Institute of Mining and Metallurgy (Member No. 306422) and thus holds the relevant qualifications as Competent Person as defined in the JORC Code. Mr Weber is a full-time employee of PVW Resources. Mr Weber has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration results, Mineral Resources and Ore Reserves’. Mr Weber consents to the inclusion in this document of the matters based on his information in the form and context in which it appears.

Authorisation

This announcement has been authorised for release by the Board of PVW Resources Limited. For further information, please contact:

George Bauk Joe Graziano Executive Director Company Secretary +61 408 931 746 +61 411 649 551

Page 4 of 21

==> picture [66 x 32] intentionally omitted <==

About PVW Resources:

==> picture [277 x 399] intentionally omitted <==

Leonora Project – 100% 195km[2]

The company owns 100% Jungle Well and the Brilliant Well projects both with immediate follow up targets. Jungle Well has a 26,800oz Au inferred resource JORC12 compliant, the open pit was mined previously in 1996 during a low gold price. Drilling plans to explore the extension of the existing resource and along strike following up an intersection of 13.2m @ 1.74 g/t which was drilled exploring for Nickel.

The Brilliant Well Project is south of the Bundarra Gold Project (owned by Northern Star) with gold intersections from various drilling programs in 2011 and by PVW in 2019 which included 4m @ 4.09 g/t and 10m @ 3.36 g/t in historical 2011 drilling.

All Leonora Project exploration drilling results refer to ASX:PVW, Thred Prospectus Appendix A - Independent Geologists Report, Appendix 1.

Jungle Well Deposit November 2019 Maiden Inferred Mineral Resource Estimate - (0.5g/t Au Cut off)

(0.5g/t Au Cut-off)
Type Tonnage
Au
Au
kt
g/t
Ounces
LG Stockpile
Oxide
Transitional
Fresh
7
1.3
300
210
1.0
6,800
309
1.1
10,600
208
1.4
9,200
Total 735
1.1
26,800

Note:

Refer to the Thred Ltd website Prospectus – Appendix A - Independent Geologists Report, 2.4 Mineral Resource Estimation – Jungle Well Deposit. The Company confirms that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed at the time of publication.

Page 5 of 21

==> picture [66 x 32] intentionally omitted <==

Tanami Project – 100% ~1,000km[2]

The Tanami Region hosts the large Callie gold deposit currently being mined by Newmont. Limited exploration has been undertaken in the Tanami and many view this area as highly prospective and very underexplored. Over the past 3 years the company has put together a 1,000km[2 ] contiguous land package with solid geological information and historical drill results that require immediate follow up. Previous exploration in the early 2010’s resulted in 12m @ 2.94 g/t from surface and 5m @ 6.99 g/t also from surface. All historical Tanami Project exploration drilling results refer to ASX:PVW, Thred Prospectus Appendix A - Independent Geologists Report, Appendix 1.

Kalgoorlie Project – 100% 96km[2]

Right in and amongst the heartland of gold in Western Australia, PVW has a 96km2 tenement package within close proximity to many operating gold processing plants. Near term drill targets: Regional Bedrock Targets including previous drill results including 6m @ 2.61 g/t and 4m @ 2.39 g/t and new conceptual targets. Significant drill results in granites and within greenstones. Paleochannel targets with possible links to bedrock mineralisation. All historical Kalgoorlie Project exploration drilling results refer to ASX:PVW, Thred Prospectus Appendix A - Independent Geologists Report, Appendix 1.

Right place for the right times for the right commodity

Western Australia is one of the leading investment jurisdictions according to the recent Fraser Institute rankings. During the challenging times we live in during COVID-19 all our projects and people are in Western Australia with excellent access to the projects. Finally, Western Australia is a global leader in gold production and gold exploration.

Page 6 of 21

==> picture [66 x 32] intentionally omitted <==

Table 1: Auger Hole Location and Au Results.

Hole_ID Easting
(m)
Northing
(m)
RL
(m)

Depth_From
(m)
Depth_To
(m)
Au_ppb
KOA001 351500 6630250 368.5 1.5 2 38
KOA002 351600 6630250 368.5 1.5 2 18.8
KOA003 351700 6630250 368.5 1.5 2 61.3
KOA004 351800 6630250 368 2 2.5 36.1
KOA005 351900 6630250 368 2 2.5 29.1
KOA006 352000 6630250 368 2 2.5 23.5
KOA007 352100 6630250 368 2 2.5 62.2
KOA008 352200 6630250 368.3 1.7 2.2 64.1
KOA009 352300 6630250 369 1 1.5 56.5
KOA010 352400 6630250 369 1 1.5 28.7
KOA011 352500 6630250 368.5 1.5 2 15.3
KOA012 352600 6630250 368 2 2.5 28.9
KOA013 352700 6630250 368 2 2.5 47.8
KOA014 352800 6630250 368 2 2.5 21.7
KOA015 352900 6630250 368.2 1.8 2.3 36.9
KOA016 353000 6630250 368.7 1.3 1.8 49.5
KOA017 353100 6630250 368.5 1.5 2 32.7
KOA018 353200 6630250 368.5 1.5 2 32.8
KOA019 353300 6630250 368.5 1.5 2 35.3
KOA020 353400 6630250 368.5 1.5 2 31.4
KOA021 353500 6630250 368 2 2.5 26.8
KOA022 353600 6630250 368 1.5 2 47.3
KOA023 353700 6630250 368.8 1.2 1.7 12.9
KOA024 353800 6630250 367 2.2 2.7 15.7
KOA025 353900 6630250 368 2 2.7 9.3
KOA026 354000 6630250 366.7 3.3 3.8 20.8
KOA027 354100 6630250 367.5 2.5 3 20
KOA028 354200 6630250 368.7 1.3 1.8 10.5
KOA029 354300 6630250 368.5 1.5 2 21.2
KOA030 354400 6630250 368.5 1.5 2 29.8
KOA031 354500 6630250 368.8 1.2 1.7 33.6
KOA032 354600 6630250 368.6 1.4 1.9 40.6
KOA033 354700 6630250 368.2 1.8 2.3 43.9
KOA034 354800 6630250 368.8 1.2 1.7 22
KOA035 354900 6630250 369 1 1.5 45.1
KOA036 355000 6630250 369 1 1.5 31.1
KOA037 355100 6630250 369 1 1.5 34.5
KOA038 355200 6630250 369 1 1.5 42.6
KOA039 355300 6630250 368.5 1.5 2 25.6
KOA040 355400 6630250 367.5 2.5 3 31.1
KOA041 355500 6630250 367 3 3.5 32.9
KOA042 355600 6630250 368.5 1.5 2 44.1
KOA043 355700 6630250 368.5 1.5 2 33.7
KOA044 355800 6630250 368 2 2.5 40.1
KOA045 355900 6630250 368.5 1.5 2 17.1
KOA046 356000 6630250 368.2 1.8 2.3 34.1
KOA047 356100 6630250 368.2 1.8 2.3 32.3
KOA048 356200 6630250 368.4 1.6 2.1 37.1
KOA048 356200 6630250 368.2 2 2.5 29.8
KOA049 356300 6630250 368.5 1.5 2 28.9
KOA050 356400 6630250 368.5 1.5 2 47.6

Page 7 of 21

==> picture [66 x 32] intentionally omitted <==

Hole_ID Easting
(m)
Northing
(m)
RL
(m)

Depth_From
(m)
Depth_To
(m)
Au_ppb
KOA051 356500 6630250 368.8 1.2 1.7 34.7
KOA052 356600 6630250 368.8 1.2 1.7 37.5
KOA053 356700 6630250 368.5 1.5 2 33.7
KOA054 356800 6630250 368.8 1.2 1.7 35.5
KOA055 356900 6630250 369 1 1.5 29.6
KOA056 357000 6630250 368.5 1.5 2 35.5
KOA057 357100 6630250 368.2 1.8 2.3 36.5
KOA058 357200 6630250 366.4 3.6 4.1 36.8
KOA059 357300 6630250 368.5 1.5 2 39.2
KOA060 357400 6630250 368.5 1.5 2 45.9
KOA061 351500 6629850 368.5 1.5 2 42.4
KOA062 351600 6629850 369 1 1.5 41.8
KOA063 351700 6629850 368.5 1.5 2 48.8
KOA064 351800 6629850 369.6 0.4 0.9 54.5
KOA065 351900 6629850 368.5 1.5 2 19.6
KOA066 352000 6629850 368 2 2.5 29.3
KOA067 352100 6629850 367.5 2.5 3 21.6
KOA068 352200 6629850 368 2 2.5 14.3
KOA069 352333 6629851 368.5 1.5 2 21.7
KOA070 352400 6629850 368 2 2.5 14
KOA071 352500 6629850 368.5 1.5 2 19.2
KOA072 352600 6629850 369 1 1.5 21.7
KOA073 352700 6629850 368.5 1.5 2 15.1
KOA074 352800 6629850 368.5 1.5 2 15.5
KOA075 352900 6629850 368.5 1.5 2 65.9
KOA076 353000 6629850 368.5 1.5 2 33.4
KOA077 353100 6629850 369 1 1.5 30.9
KOA078 353200 6629850 368 2 2.5 21.7
KOA079 353300 6629850 368.5 1.5 2 22.3
KOA080 353400 6629850 369 1 1.5 5.4
KOA081 353500 6629850 368.8 1.2 1.7 15.5
KOA082 353600 6629850 368 2 2.5 24.2
KOA083 353700 6629850 367.5 2.5 3 13.7
KOA084 353800 6629850 365.5 4.5 5 10.9
KOA085 353900 6629850 367.8 2 2.5 10.8
KOA086 354000 6629850 368.8 1.2 1.7 8.2
KOA087 354100 6629850 368.8 1.2 1.7 16.3
KOA088 354200 6629850 368.5 1.5 2 45.1
KOA089 354300 6629850 367.5 2.5 3 37.1
KOA090 354400 6629850 369 1 1.5 16.3
KOA091 354500 6629850 368.5 1.5 2 35.1
KOA092 354600 6629850 368 2 2.5 30.6
KOA093 354700 6629850 367.5 2.5 3 18.1
KOA094 354800 6629850 368.5 1.5 2 16.2
KOA095 354900 6629850 369 1 1.5 21.2
KOA096 355000 6629850 368.5 1.5 2 33.6
KOA097 355100 6629850 368.5 1.5 2 39.6
KOA098 355200 6629850 368 2 2.5 40.2
KOA099 355300 6629850 367.5 2.5 3 49
KOA100 355400 6629850 367.5 2.5 3.5 71.5
KOA101 355500 6629850 369.4 0.6 1.1 48.8
KOA102 355600 6629850 369 1 1.5 73.2
KOA103 355700 6629850 368.9 1.1 1.6 55.6

Page 8 of 21

==> picture [66 x 32] intentionally omitted <==

Hole_ID Easting
(m)
Northing
(m)
RL
(m)

Depth_From
(m)
Depth_To
(m)
Au_ppb
KOA104 355800 6629850 368 2 2.5 50.8
KOA105 355900 6629850 367 3 3.5 48.5
KOA106 356000 6629850 368.5 1.5 2 50.2
KOA107 356100 6629850 368.5 1.5 2 47.8
KOA108 356200 6629850 368.6 1.4 1.9 31.7
KOA109 356300 6629850 368.8 1.2 1.7 29.2
KOA110 356400 6629850 368 2 2.5 36.8
KOA111 356500 6629850 368.5 1.5 2 27.4
KOA112 356600 6629850 368.5 1.5 2 28.1
KOA113 356700 6629850 368 2 2.5 27.2
KOA114 356800 6629850 368.5 1.5 2 25.4
KOA115 356900 6629850 369 1 1.5 25.8
KOA116 357000 6629850 367.8 2.2 2.7 32.5
KOA117 357100 6629850 368.8 1.2 1.7 17.2
KOA118 357200 6629850 368.5 1.5 2 29.7
KOA119 357300 6629850 368.5 1.5 2 35.4
KOA120 351628 6629435 369.5 0.5 1 32
KOA121 351600 6629450 367.5 2.5 3 20.6
KOA122 351700 6629450 368 2 2.5 22.3
KOA123 351800 6629450 369 1 1.5 22.6
KOA124 351900 6629450 368.9 1.1 1.6 45.5
KOA125 352000 6629450 369 1 1.5 22.2
KOA126 352100 6629450 369 1 1.5 32.2
KOA127 352200 6629450 368.5 1.5 2 24.8
KOA128 352300 6629450 369.6 0.4 0.9 18
KOA129 352400 6629450 368.5 1.5 2 17
KOA130 352500 6629450 369.3 0.7 1.2 19.8
KOA131 352600 6629450 368.5 1.5 2 25.1
KOA132 352700 6629450 368.5 1.5 2 19.2
KOA133 352800 6629450 368.8 1.2 1.7 36.3
KOA134 352900 6629450 369.5 0.5 1 13.2
KOA135 353000 6629450 369 1 1.5 52.5
KOA136 353100 6629450 368 2 2.5 29.2
KOA137 353200 6629450 368.3 1.7 2.2 29.9
KOA138 353300 6629450 368.5 1.5 2 42.6
KOA139 353400 6629450 369 1 1.5 22.6
KOA140 353500 6629450 368 2 2.5 16.1
KOA141 353600 6629450 369 1 1.5 14.3
KOA142 353700 6629450 369 1 1.5 17.3
KOA143 353800 6629450 369 1 1.5 32.9
KOA144 353900 6629450 368.5 1.5 2 28
KOA145 354000 6629450 369 1 1.5 16.7
KOA146 354100 6629450 368.8 1.2 1.7 15.4
KOA147 354200 6629450 368 2 2.5 15.1
KOA148 354300 6629450 368.4 1.6 2.1 20.8
KOA149 354400 6629450 368.5 1.5 2 23.6
KOA150 354500 6629450 368.5 1.5 2 24.5
KOA151 354600 6629450 369 1 1.5 30.3
KOA152 354700 6629450 369 1 1.5 30.4
KOA153 354800 6629450 368.5 1.5 2 24.1
KOA154 354900 6629450 368.5 1.5 2 20.3
KOA155 355000 6629450 369.5 0.5 1 8.3
KOA156 355100 6629450 369.5 0.5 1 6.9

Page 9 of 21

==> picture [66 x 32] intentionally omitted <==

Hole_ID Easting
(m)
Northing
(m)
RL
(m)

Depth_From
(m)
Depth_To
(m)
Au_ppb
KOA157 355200 6629450 369.4 0.6 1.1 9.9
KOA158 355300 6629450 368.6 1.4 1.9 36.7
KOA159 355400 6629450 368.5 1.5 2 49
KOA160 355500 6629450 369 1 1.5 37.4
KOA161 355600 6629450 369 1 1.5 44.3
KOA162 355700 6629450 369 1 1.5 57.6
KOA163 355800 6629450 369 1 1.5 30.1
KOA164 355900 6629450 368.5 1.5 2 36.4
KOA165 356000 6629450 369 1 1.5 43.9
KOA166 356100 6629450 369 1 1.5 42.7
KOA167 356200 6629450 369 1 1.5 26.6
KOA168 356300 6629450 369 1 1.5 38.6
KOA169 356400 6629450 369 1 1.5 39.3
KOA170 356500 6629450 368.7 1.3 1.8 35
KOA171 356600 6629450 369 1 1.5 37.9
KOA172 356700 6629450 369 1 1.5 42.9
KOA173 356800 6629450 368.5 1.5 2 53.3
KOA174 356900 6629450 368.2 1.8 2.3 43.6
KOA175 357000 6629450 368.4 1.6 2.1 51.7
KOA176 357100 6629450 369 1 1.5 32.3
KOA177 357200 6629450 368.4 1.6 2.1 29.8
KOA178 357300 6629450 368.7 1.3 1.8 22.7
KOA179 351500 6629050 369.5 0.5 1 27.7
KOA180 351600 6629050 368.8 1.2 1.7 38.9
KOA181 351700 6629050 368.8 1.2 1.7 25.6
KOA182 351800 6629050 368.7 1.3 1.8 26.3
KOA183 351900 6629050 369 1 1.5 14
KOA184 352000 6629050 369 1 1.5 16.2
KOA185 352100 6629050 369 1 1.5 13.1
KOA186 352200 6629050 368.8 1.2 1.7 17.1
KOA187 352300 6629050 369 1 1.5 9.9
KOA188 352400 6629050 368.8 1.2 1.7 23.6
KOA189 352500 6629050 367.5 2.5 3 6.8
KOA190 352600 6629050 369 1 1.5 8.5
KOA191 352700 6629050 369 1 1.5 12.1
KOA192 352800 6629050 369.6 0.4 0.9 10.1
KOA193 352900 6629050 369 1 1.5 33.1
KOA194 353000 6629050 369 1 1.5 24.7
KOA195 353100 6629050 369 1 1.5 32.9
KOA196 353200 6629050 369 1 1.5 21.9
KOA197 353300 6629050 368.5 1.5 2 19.8
KOA198 353400 6629050 366.5 3 3.5 48.8
KOA199 353500 6629050 368.6 1.4 1.9 35.8
KOA200 353600 6629050 369 1 1.5 35.2
KOA201 353700 6629050 368.5 1.5 2 42.4
KOA202 353800 6629050 369 1 1.5 24.6
KOA203 353900 6629050 369 1 1.5 35.2
KOA204 354000 6629050 368.5 1.5 2 35.5
KOA205 354100 6629050 368.7 1.3 1.8 34.1
KOA206 354200 6629050 368.5 1.5 2 27.7
KOA207 354300 6629050 369 1 1.5 32.5
KOA208 354400 6629050 369 1 1.5 24.4
KOA209 354500 6629050 369 1 1.5 26

Page 10 of 21

==> picture [66 x 32] intentionally omitted <==

Hole_ID Easting
(m)
Northing
(m)
RL
(m)

Depth_From
(m)
Depth_To
(m)
Au_ppb
KOA210 354600 6629050 369 1 1.5 25
KOA211 354700 6629050 368.5 1.5 2 26.2
KOA212 354800 6629050 369 1 1.5 35.8
KOA213 354900 6629050 369 1 1.5 19.1
KOA214 355000 6629050 369 1 1.5 27
KOA215 335090 6629065 369 1 1.5 41.9
KOA216 355200 6629050 367.5 2.5 3 15.5
KOA217 355300 6629050 369.3 0.7 1.2 6.4
KOA218 355400 6629050 369.2 0.8 1.3 7.9
KOA219 355500 6629050 368.5 1.5 2 41.8
KOA220 355600 6629050 369.2 0.8 1.3 66.3
KOA221 355700 6629050 369.5 0.5 1 14
KOA222 355800 6629050 369.7 0.3 0.8 20
KOA223 355900 6629050 369.7 0.3 0.8 16.4
KOA224 356000 6629050 369.5 0.5 1 18.5
KOA225 356100 6629050 368.5 1.5 2 47.2
KOA226 356200 6629050 368.5 1.5 2 53.9
KOA227 356300 6629050 369 1 1.5 53.1
KOA228 356400 6629050 369.2 0.8 1.3 126.6
KOA229 356500 6629050 369 1 1.5 25.6
KOA230 356600 6629050 368.9 1.1 1.6 36.7
KOA231 356700 6629050 368.8 1.2 1.7 32.1
KOA232 356800 6629050 369 1 1.5 34.6
KOA233 356900 6629050 369 1 1.5 29.5
KOA234 357000 6629050 369 1 1.5 21.7
KOA235 357100 6629050 369 1 1.5 19.5
KOA236 357200 6629050 369 1 1.5 20.4
KOA237 357300 6629050 369 1 1.5 19.5
KOA238 357400 6629050 369 1 1.5 18
KOA239 351500 6628650 369 1 1.5 9.3
KOA240 351600 6628650 368.5 1.5 2 8.3
KOA241 351700 6628650 368 2 2.5 11.4
KOA242 351800 6628650 367.5 2.5 3 9.1
KOA243 351900 6628650 368.5 1.5 2 8.3
KOA244 352000 6628650 369 1 1.5 9.3
KOA245 352100 6628650 368.9 1.1 1.6 17.2
KOA246 352200 6628650 368.7 1.3 1.8 14.5
KOA247 352300 6628650 369 1 1.5 22.5
KOA248 352400 6628650 369.5 0.5 1 11.6
KOA249 352500 6628650 369.4 0.6 1.1 7.2
KOA250 352600 6628650 368 2 2.5 41.7
KOA251 352700 6628650 368.5 1.5 2 48.1
KOA252 352800 6628650 367.5 2.5 3 20.9
KOA253 352900 6628650 368 2 2.5 38.1
KOA254 353000 6628650 369 1 1.5 30.1
KOA255 353100 6628650 367.5 2.5 3 29.9
KOA256 353200 6628650 367.5 2.5 3 37.2
KOA257 353300 6628650 369 1 1.5 36.2
KOA258 353400 6628650 368.5 1.5 2 40.5
KOA259 353500 6628650 368 2 2.5 55.8
KOA260 353600 6628650 368 2 2.5 40.4
KOA261 353700 6628650 368 2 2.5 42.6
KOA262 353800 6628650 368.5 1.5 2 42.7

Page 11 of 21

==> picture [66 x 32] intentionally omitted <==

Hole_ID Easting
(m)
Northing
(m)
RL
(m)

Depth_From
(m)
Depth_To
(m)
Au_ppb
KOA263 353900 6628650 368.5 1.5 2 31.2
KOA264 354000 6628650 368 2 2.5 37.8
KOA265 354100 6628650 368 2 2.5 33.8
KOA266 354200 6628650 368.5 1.5 2 24
KOA267 354300 6628650 368.5 1.5 2 32.3
KOA268 354400 6628650 368.5 1.5 2 29.3
KOA269 354500 6628650 368 2 2.5 28.8
KOA270 354600 6628650 367.5 2.5 3 27.5
KOA271 354700 6628650 368 2 2.5 18.7
KOA272 354800 6628650 368.5 1.5 2 21
KOA273 354900 6628650 368.5 1.5 2 29.4
KOA274 355000 6628650 368.5 1.5 2 23.9
KOA275 355100 6628650 368.5 1.5 2 25.1
KOA276 355200 6628650 369 1 1.5 35.5
KOA277 355300 6628650 368.5 1.5 2 36.1
KOA278 355400 6628650 369 1 1.5 175.8
KOA279 355500 6628650 368.5 1.5 2 22.9
KOA280 355600 6628650 369 1 1.5 17
KOA281 355700 6628650 368.5 1.5 2 36.9
KOA282 355800 6628650 369 1 1.5 2.3
KOA283 355900 6628650 366.5 3.5 4 69.1
KOA284 356000 6628650 369 1 1.5 42.8
KOA285 356100 6628650 369 1 1.5 30.5
KOA286 356200 6628650 367.5 2.5 3 38.1
KOA287 356300 6628650 369 1 1.5 36.3
KOA288 356400 6628650 368 2 2.5 39.8
KOA289 356500 6628650 368 2 2.5 35.5
KOA290 356600 6628650 368.5 1.5 2 46
KOA291 356700 6628650 368.5 1.5 2 37.9
KOA292 356800 6628650 367.7 2.3 2.8 155
KOA293 356900 6628650 368.5 1.5 2 61.8
KOA294 357000 6628650 368.7 1.3 1.8 31.1
KOA295 357100 6628650 368.5 1.5 2 33
KOA296 357200 6628650 367.5 2.5 3 50.7
KOA297 357300 6628650 368 2 2.5 77.6
KOA298 357400 6628650 368 2 2.5 93.4
KOA299 351500 6628250 368.5 1.5 2 14.7
KOA300 351600 6628250 368.5 1.5 2 13.7
KOA301 351700 6628250 369 1 1.5 15
KOA302 351800 6628250 368 2 2.5 29.4
KOA303 351900 6628250 367.5 1.5 2 16.3
KOA304 352000 6628250 368 2 2.5 23.5
KOA305 352100 6628250 368.5 1.5 2 18.5
KOA306 352200 6628250 368 2 2.5 3.5
KOA307 352300 6628250 368.5 1.5 2 37.4
KOA308 352400 6628250 368 2 2.5 26.4
KOA309 352470 6628275 367.5 2.5 3 33.4
KOA310 352600 6628250 368.5 1.5 2 26.4
KOA311 352700 6628250 368.5 1.5 2 34.1
KOA312 352800 6628250 368.5 1.5 2 33.4
KOA313 352900 6628250 368.5 1.5 2 49.1
KOA314 353000 6628250 369.2 0.8 1.3 62
KOA315 353100 6628250 369.2 0.8 1.3 48.1

Page 12 of 21

==> picture [66 x 32] intentionally omitted <==

Hole_ID Easting
(m)
Northing
(m)
RL
(m)

Depth_From
(m)
Depth_To
(m)
Au_ppb
KOA316 353200 6628250 369 1 1.5 38.1
KOA317 353300 6628250 369 1 1.5 48.8
KOA318 353400 6628250 369 1 1.5 44.1
KOA319 353500 6628250 369 1 1.5 48.5
KOA320 353600 6628250 369 1 1.5 38.9
KOA321 353700 6628250 368.5 1.5 2 40.1
KOA322 353800 6628250 368.5 1.5 2 28.7
KOA323 353900 6628250 368.2 1.8 2.3 44.4
KOA324 354000 6628250 368 2 2.5 50.5
KOA325 354100 6628250 368 2 2.5 36.3
KOA326 354200 6628250 368 2 2.5 50.9
KOA327 354300 6628250 368.5 1.5 2 36.9
KOA328 354400 6628250 368.8 1.2 1.7 37.9
KOA329 354500 6628250 368.5 1.5 2 37.5
KOA330 354600 6628250 368.5 1.5 2 37.2
KOA331 354700 6628250 369 1 1.5 39.6
KOA332 354800 6628250 368.5 1.5 2 23.5
KOA333 354900 6628250 368.5 1.5 2 34.8
KOA334 355000 6628250 368 2 2.5 37.6
KOA335 355100 6628250 369 1 1.5 18.7
KOA336 355200 6628250 368.5 1.5 2 25.2
KOA337 355300 6628250 367.5 2.5 3 50.1
KOA338 355400 6628250 369 1 1.5 31.9
KOA339 355500 6628250 368.5 1.5 2 36.2
KOA340 355600 6628250 368.8 1.2 1.7 26.8
KOA341 355700 6628250 368.8 1.2 1.7 50.2
KOA342 355800 6628250 367.5 2.5 3 46.4
KOA343 355900 6628250 368.5 1.5 2 63.4
KOA344 356000 6628250 368.5 1.5 2 40.7
KOA345 356100 6628250 368 2 2.5 45
KOA346 356200 6628250 368.5 1.5 2 46.6
KOA347 356300 6628250 369.2 0.8 1.3 52.2
KOA348 356400 6628250 368.2 1.8 2.3 32.9
KOA349 356500 6628250 368.5 1.5 2 32.1
KOA350 356600 6628250 369 1 1.5 46.9
KOA351 356700 6628250 368.6 1.4 1.9 23.9
KOA352 356800 6628250 368.8 1.2 1.7 30.5
KOA353 356900 6628250 369 1 1.5 27.4
KOA354 357000 6628250 368.5 1.5 2 19.3
KOA355 357100 6628250 368 2 2.5 25.8
KOA356 357200 6628250 368 2 2.5 13.2
KOA357 357300 6628250 368.5 1.5 2 17.5
KOA358 357400 6628250 368.5 1.5 2 42.9
KOA359 351500 6627850 369.2 0.8 1.3 8.8
KOA360 351600 6627850 368 2 2.5 16
KOA361 351700 6627850 369 1 1.5 14.5
KOA362 351800 6627850 367.5 2.5 3 5.3
KOA363 352300 6627850 367.5 2.5 3 17
KOA364 352400 6627850 367.5 2.5 3 25.4
KOA365 352500 6627850 367.5 2.5 3 47.1
KOA366 352562 6627860 367.5 2.5 3 42.9
KOA367 352700 6627850 367.5 2.5 3 49.2
KOA368 352800 6627850 367.5 2.5 3 29.4

Page 13 of 21

==> picture [66 x 32] intentionally omitted <==

Hole_ID Easting
(m)
Northing
(m)
RL
(m)

Depth_From
(m)
Depth_To
(m)
Au_ppb
KOA369 352900 6627850 367.5 2.5 3 35.5
KOA370 353000 6627850 368.5 1.5 2 22.4
KOA371 353105 6627888 368 2 2.5 36
KOA372 353193 6627874 368 2 2.5 31.5
KOA373 353302 6627878 368 2 2.5 42.2
KOA374 353413 6627886 368 2 2.5 38.4
KOA375 353517 6627886 368.5 1.5 2 36.7
KOA376 353593 6627899 368.5 1.5 2 50.6
KOA377 353700 6627850 369 1 1.5 59.6
KOA378 353800 6627850 368.5 1.5 2 2.8
KOA379 353899 6627637 365.5 4.5 5 1.8
KOA386 354600 6627850 368.5 1.5 2 38.2
KOA387 354700 6627850 367.5 2.5 3 35.2
KOA388 354800 6627850 368.5 1.5 2 41.9
KOA389 354900 6627850 368 2 2.5 33.8
KOA390 355000 6627850 368 2 2.5 23.5
KOA391 355100 6627850 368.5 1.5 2 30.3
KOA392 355200 6627850 368.5 1.5 2 27.6
KOA393 355300 6627850 368.5 1.5 2 28.2
KOA394 355400 6627850 368.5 1.5 2 27.1
KOA395 355500 6627850 367.5 2.5 3 30
KOA396 355600 6627850 367.8 2.2 2.7 30.2
KOA397 355700 6627850 368.5 1.5 2 35.7
KOA398 355800 6627850 368.5 1.5 2 42.9
KOA399 355900 6627850 369 1 1.5 30.6
KOA400 356000 6627850 368.5 1.5 2 26.9
KOA401 356100 6627850 368.5 1.5 2 27.2
KOA402 356200 6627850 368.5 1.5 2 33.7
KOA403 356300 6627850 368 2 2.5 34.7
KOA404 356400 6627850 368 2 2.5 22.2
KOA405 356500 6627850 368.5 1.5 2 22.5
KOA406 356600 6627850 367.5 2.5 3 24.8
KOA407 356700 6627850 368 2 2.5 28.8
KOA408 356800 6627850 368.5 1.5 2 26.5
KOA409 356900 6627850 368 2 2.5 24.5
KOA410 357000 6627850 368.5 1.5 2 16.7
KOA411 357100 6627850 367.5 2.5 3 13.8
KOA412 357200 6627850 368 2 2.5 20.4
KOA413 357300 6627850 368.5 1.5 2 19.3
KOA414 357400 6627850 367.5 2.5 3 19.8
KOA415 351500 6627450 368 2 2.5 9.2
KOA416 351600 6627450 369 1 1.5 7.4
KOA417 351700 6627450 368.5 1.5 2 8.9
KOA418 351800 6627450 368.5 1.5 2 5.1
KOA419 351900 6627450 368.8 1.2 1.7 4.6
KOA420 352000 6627450 369 1 1.5 15.6
KOA421 352100 6627450 368 2 2.5 32.1
KOA422 352200 6627450 368.5 1.5 2 41.3
KOA423 352300 6627450 368 2 2.5 29.8
KOA424 352400 6627450 368.5 1.5 2 62
KOA425 352500 6627450 368.5 1.5 2 4.6
KOA426 352600 6627450 368.5 1.5 2 72.4
KOA427 352700 6627450 368.8 1.2 1.7 61.3

Page 14 of 21

==> picture [66 x 32] intentionally omitted <==

Hole_ID Easting
(m)
Northing
(m)
RL
(m)

Depth_From
(m)
Depth_To
(m)
Au_ppb
KOA428 352800 6627450 368.8 1.2 1.7 72.3
KOA429 352900 6627450 368.5 1.5 2 55.1
KOA430 353000 6627450 368.5 1.5 2 86.2
KOA431 353100 6627450 368.5 1.5 2 87.6
KOA432 353200 6627450 368.5 1.5 2 85
KOA433 353300 6627450 368.2 1.8 2.3 123.6
KOA434 353400 6627450 368.5 1.5 2 112.9
KOA435 353500 6627450 368 2 2.5 86.5
KOA436 353600 6627450 368.5 1.5 2 37.3
KOA437 353700 6627450 368.2 1.8 2.3 44.5
KOA438 353800 6627450 368.2 1.8 2.3 35.7
KOA439 353900 6627450 368 2 2.5 37.4
KOA440 354000 6627450 367.5 2.5 3 28.4
KOA441 354100 6627450 368 2 2.5 19.4
KOA442 354200 6627450 367.5 2.5 3 24.5
KOA443 354282 6627441 367.5 2.5 3 42.2
KOA444 354380 6627422 367.5 2.5 3 26.1
KOA445 354476 6627400 367.5 2.5 3 23.4
KOA446 354600 6627450 367.5 2.5 3 28.7
KOA447 354700 6627450 368.2 1.8 2.3 32.3
KOA448 354800 6627450 368 2 2.5 33
KOA449 354900 6627450 368.5 1.5 2 18.2
KOA450 355000 6627450 367.5 2.5 3 21.6
KOA451 355100 6627450 367.5 2.5 3 23.6
KOA452 355200 6627450 367.5 2.5 3 29.7
KOA453 355300 6627450 367.5 2.5 3 21.9
KOA454 355400 6627450 367.5 2.5 3 40.4
KOA455 355500 6627450 367.5 2.5 3 19.8
KOA456 355600 6627450 367.5 2.5 3 19.3
KOA457 355700 6627450 367.5 2.5 3 20.1
KOA458 355800 6627450 367.5 2.5 3 27.9
KOA459 355900 6627450 367.5 2.5 3 23.6
KOA460 356000 6627450 367.5 2.5 3 15.1
KOA461 356100 6627450 367.5 2.5 3 19.8
KOA462 356200 6627450 368 2 2.5 19.9
KOA463 356400 6627450 367.5 2.5 3 26.7
KOA464 356500 6627450 367.5 2.5 3 23.6
KOA465 356600 6627450 367.5 2.5 3 19.7
KOA466 356700 6627450 367.5 2.5 3 20.3
KOA467 356800 6627450 367.5 2.5 3 25.8
KOA468 356900 6627450 367.5 2.5 3 19.8
KOA469 357000 6627450 367.5 2.5 3 30.2
KOA470 357100 6627450 367.5 2.5 3 26.7
KOA471 357300 6627450 367.5 2.5 3 23.7
KOA472 357400 6627450 367.5 2.5 3 17.8

Page 15 of 21

==> picture [66 x 32] intentionally omitted <==

Kalgoorlie – King Of The West - E27/614 Auger Drilling JORC CODE, 2012 Edition Table 1

Section 1 Sampling Techniques and Data

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.

PVW utilises a vehicle mounted Auger
capable of drilling vertical holes to a
maximum
depth
of
20m.
In
this
programme the average sample depth is
1.6m, a minimum depth of 0.8m and a
maximum depth of 5m.

0.5m drill spoil intervals are tested with
HCl as they are collected for Carbonate
reactivity, the most reactive interval is
sampled with collection of ~500gm, -
2mm material.

PVW samples were submitted to a
contracting
laboratory
LabWest
for
ultrafine sieving (<2μm) and ICP_MC
analysis for Au (0.5ppb detection limit)
and 44 other elements.
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).

Power
auger
drilling,
with
vehicle
mounted
auger
is
an
open
hole
technique.
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/gain
of
fine/coarse
material.

Sample recovery is not assessed for
power auger drilling as it is a geochemical
method. Recoveries are inherently good
as holes need to be clear to be drilled
deeper.
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,

None of the results are used in Mineral
Resource Estimates.

Sample colour and carbonate reaction
intensity was qualitatively logged.

Only the sampled interval ~0.5m is
logged.

Page 16 of 21

==> picture [66 x 32] intentionally omitted <==

Criteria JORC Code explanation Commentary
channel, etc) photography.

The total length and percentage of the
relevant intersections logged.
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.

Each selected 0.5m is sampled and
sieved, subsampled to approximately
500gm. This sample is considered in
excess of what is required and is
representative of the drilled material.

Samples are sieved at the hole to -2mm,
to ensure no large rock or organic
particles are present.
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.

The
Labwest
Ultrafine
method
of
preparation and analysis is appropriate
and is considered a partial technique.

No company standards or blanks were
added to the sample batch. Based on
Labwest quality control results, the
analytical results are judged to be
suitable for a geochemical drilling
program.
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.

Significant results for auger drilling, or
other geochemical programmes do not
require
twinning
or
independent
verification. However the results are
verified by an independent database
administrator.
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.

Collar locations were located using a
hand held GPS with a location error of +/-
5m. Collar coordinates referenced in the
table are GDA94 / MGA Zones 51.
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

Data from Auger sampling, or other soil
sampling will not be used in Mineral
Resource Estimations.

Page 17 of 21

==> picture [66 x 32] intentionally omitted <==

Criteria JORC Code explanation Commentary
Ore Reserve estimation procedure(s) and
classifications applied.

Whether sample compositing has been
applied.
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.

Power auger holes were spaced at 100m
along E-W oriented 400m spaced lines.
The regional greenstone trend (within
eastern division of E27/614) is north-
northwest, while the trend of the Scotia
Anticline and nearby Federal open pit
resource is northwest, the E-W line
orientation allows assessment of all local
structural and geological trends.
Sample
security

The measures taken to ensure sample
security.

Chain of custody is managed by PVW.
Samples are collected on site, sealed in
bags / or box’s for transport via a
commercial freight provider directly to
the sample assay laboratory in Perth.
Audits or
reviews

The results of any audits or reviews of
sampling techniques and data.

No detailed audits or reviews have yet
been conducted due to the level of work
completed at the Project to date.

Page 18 of 21

==> picture [66 x 32] intentionally omitted <==

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.

The security of the tenure held at the time
of reporting along with any known
impediments to obtaining a license to
_operate inthe area. _

Tenement E27/614 is 100% owned by
PVW
Resources
Limited
through
subsidiary PVW Kalgoorlie Pty Ltd.

Various ML’s cross the tenement, the
sampling has not interfered with any
purpose or installations.
Exploration
done by other
parties

Acknowledgment
and
appraisal
of
exploration by other parties.

Other parties exploration activities within
E27/614 were for gold in the 90’s and
early-mid 2000’s. Anomalous results
were returned from various holes, and
materials including in situ mineralised
granites and transported gravels sand
clays.
Relevant to this program North Limited
undertook regional soil sampling and
Aircore drilling in 1995, this work
produced low level soil anomalism and
low level mostly paleochannel controlled
Aircore anomalies. Work is summarised
below.
Soil sampling (184 samples) on 500m x
500m spacings, with some 200m x 200m
follow up returned a weakly gold
anomalous area in the north eastern part
of current E27/614 with a peak gold
value
of
32ppb
Au.
Seventeen
reconnaissance Aircore drillholes (1041
metres) intersected deeply weathered
granitic bedrock underneath Tertiary
lacustrine clays and channel sands. The
channel sands occur on the eastern ends
of the drill traverses and the overlying
clays thin towards the west. One
anomalous gold value was returned from
bedrock
with
2m
@
53ppb
Au.
Anomalous gold values up to 4m @
225ppb Au were returned from the
transported cover.
Geology
Deposit type, geological setting and style
of mineralisation.

The geology underlying the tenement is
predominantly
granite
of
mostly
unknown thickness, the eastern division
has
a
greenstone
signature
in
magnetics.
Metamorphosed
and
sheared mafic units with a strong north-
northwest structural trend are located
one the eastern edge of the tenement,
while granitic rocks dominate scattered
outcrops elsewhere. Nearest economic
mineralisation occurs at the Golden
Cities and Federal Deposit to the
Northwest.
Local
controls
on
mineralisation are northwest trending
veined
structures
within
granitoid

Page 19 of 21

==> picture [66 x 32] intentionally omitted <==

Criteria JORC Code explanation Commentary
lithologies (Norton Gold Fields website).
Mineralisation at the Yandal Resources
Gordon Gold Project (approximately 4km
to the northeast) is both paleochannel
and greenstone / porphyry hosted with
multiple prospects and various hosts
(ASX:YRL, ASX announcement 27 May
2021).
Drill hole
information
A summary of all information material to
the under-standing 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
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.

All information has been included within
the text as Table 1. No information has
been excluded. Mulitelement results are
being assessed.
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.
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.

Exploration results have not been cut,
altered or aggregated.
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’).

True widths cannot be estimated for the
power auger drill results. They do not
intersect known geological units.
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 are included.

Page 20 of 21

==> picture [66 x 32] intentionally omitted <==

Criteria JORC Code explanation Commentary
Balanced
Reporting

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.
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 exploration results are 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. _

There are no other exploration data that
are material or should be reported.
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.

Follow up Auger is planned and will be
undertaken to extend the grid to the
South. Aircore Drilling will then target the
appropriate level on Au anomalism.

Page 21 of 21