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VITA RESOURCES NL M&A Activity 2024

Jul 29, 2024

66025_rns_2024-07-29_c1624bb9-a3b4-4931-85ab-f1f21a7c9478.pdf

M&A Activity

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BMO TO ACQUIRE HIGH-GRADE CANADIAN COPPER PORTFOLIO - THICK DRILL INTERSECTIONS TO 20.56m @ 5.20% COPPER. HISTORICAL RESOURCE 5MT @ 1.5% COPPER – MAJOR EXPANSION POTENTIAL

A competent person has not done sufficient work to classify the historical foreign estimates as mineral resources or ore reserves in accordance with the JORC Code (2012); and it is uncertain that following evaluation and/or further exploration work that the historical foreign estimate will be able to be reported as mineral resources or ore reserves in accordance with the JORC Code.

HIGHLIGHTS:

  • Bastion Minerals Limited (ASX: BMO) (Bastion or Company) to acquire a portfolio of three (3) high-grade Canadian copper assets, including the ICE copper-gold deposit, Yukon Territory, Canada, the Mariner and Harley Copper projects in the Northwest Territories (NWT), Canada.

- ICE Copper Gold Deposit (Yukon)

  • ICE is a Cyprus-style Volcanic Hosted Massive Sulphide (VHMS) deposit, containing copper-gold, with a historical, foreign non-JORC resource of 4.56 Mt @1.48% Cu in the Yukon Territory, Canada[1] .

  • It is important to note the ICE copper deposit, which is an historical, foreign non-JORC resource estimate, was estimated in 1998 when the copper price averaged ~US$0.75 per pound. The company will look to conduct the required exploration work to bring this resource to JORC 2012 compliance and subsequently evaluate it using today’s copper price, that currently sits upwards of US$4 per pound.

  • Deposit resource defined in 1998, from 121 shallow drill holes, with limited exploration in the surrounding claims, as then owner, Yukon Zinc Corp, concentrated on developing the nearby Wolverine mine. All but five of the holes were drilled in a 600m by 400m area.

  • The best assay results are located near the centre of the deposit in ae 350m long x 50m wide zone consisting predominantly of primary massive sulphide mineralisation including:

  • 5.92m @ 8.56% Cu from 88.57m (drill hole ID97-11);

  • 28.55m @ 3.57% Cu from 90.02m (lD97-13);

  • 28.51m @ 3.20% Cu from 13.25m (lC97-57);

  • 25.09m @ 3.47% Cu from 19.26m (lC97-46);

  • 20.56m @ 5.20% Cu from 72.10m (lC96-34);

  • 19.75m @ 4.31% Cu from 79.55m (lD97-36);

1 A competent person has not done sufficient work to classify the historical estimates or foreign estimates as mineral resources or ore reserves in accordance with the JORC Code; and it is uncertain that following evaluation and/or further exploration work that the historical estimates or foreign estimates will be able to be reported as mineral resources or ore reserves in accordance with the JORC Code.

ABN: 19 147 948 883 Level 6, 22 Pitt Street Sydney NSW 2000

ASX:BMO www.bastionminerals.com

  • 8.97m @ 4.18% Cu from 7.68m (IC97-84);

  • o 7.55m @ 4.09% Cu from 86.77m (lD97-20); and o 7.43m @ 3.35% Cu from 30.97m (IC97-70).

  • Bastion is acquiring 260 claims containing the deposit that lies ~100km from the Wolverine mine and processing plant (now closed).

  • The high grade deposit has potential gold credits, with up to 0.8 g/t gold (Table 3), which were not included in the original estimate, as well as up to 100 g/t silver and 1,820 ppm cobalt, as identified in down hole intersections during exploration drilling.

  • The ICE VHMS deposit is hosted in a sequence of brecciated sea-floor basalts. VHMS deposits commonly occur in clusters and may be vertically stacked around the feeder zones which localise mineralisation.

  • Walk-up undrilled targets have been defined from helicopter and ground based Electromagnetic ( EM ) surveys and soil geochemistry. EM surveys are considered inadequate and new surveys are planned.

  • The deposit outcrops in one area and could be exploited using open pit mining.

  • Good infrastructure in the area, with the deposit accessible by tracks and located 20 km from a major partially sealed provincial road with historical modern mines in the area.

  • Work plan defined: Bastion is building a team for the project, confirming details of the historical work and will define a timeline for drilling and exploration activities to start.

Mariner and Harley Copper Projects (NWT)

  • The Harley Copper project is a largely unexplored 310 km[2] prospecting license located near Great Bear Lake in the northern NWT, with historical drill holes that are currently being assessed.

  • The Mariner Copper project is a 155 km[2] prospecting license located near Great Bear Lake, also in the northern NWT. The project is surrounded by White Cliff Minerals Ltd (ASX:WCN) Port Radium project[2] , with potential for VHMS, IOCG and strataform copper mineralisation.

The NWT is home to significant gold, base metals, uranium and diamond mines.

  • References to third party projects are only included to demonstrate part of the Company’s rationale for the acquisition of these projects and are not intended to suggest that the Company will have a similar level of exploration success as these third party entities. Refer Cautionary Statements within this announcement.

2 References to third party projects are only included to demonstrate part of the Company’s rationale for the acquisition of these projects and are not intended to suggest that the Company will have a similar level of exploration success as these third party entities. Refer Cautionary Statements within this announcement

2

  • Exploration has occurred on both properties, with evidence of high-grade copper. The company is currently reviewing historical exploration data and will provide an update to the market shortly.

Transaction

  • The consideration payable by the Company for the acquisitions is a total of $140,000 cash[3] and 187,500,000 BMO Shares, 93,750,000 options and 125,000,000 Performance Shares (subject to shareholder approval) to be paid to the shareholders of Arcus Resources Pty Ltd.

Bastion Minerals Ltd (ASX: BMO or the Company ) is pleased to provide information related to the acquisition of a highly prospective high grade Canadian Copper portfolio containing the advanced ICE copper project in Yukon Province, Western Canada. This is a province with a strong history of VHMS deposit discovery and mining. The Mariner and Harley Copper projects in the Northwest Territories (NWT), Canada are less explored but also highly prospective for copper.

- ICE Copper Gold Deposit (Yukon)

The ICE project (Figures 1 and 2) is located in the south of the Yukon, approximately 220 kilometres northeast of the major city of Whitehorse, which is the administrative capital of the province, and approximately 19 kilometres north of kilometre 279 on the Robert Campbell Highway ( Figure 1 ), which has paved and unpaved sections. A road from the highway was previously constructed for the drilling in the late 90’s and can be re-established to support exploration. Exploration on the project was completed by the company, Yukon Zinc. The Yukon contains a significant number of VHMS deposits, which have been extensively mined.

The ICE property hosts copper+gold+siIver+cobalt VHMS mineralization. Primary copper minerals are found in massive sulphide horizons and stockwork zones as chalcopyrite with pyrite and occasional bornite. Secondary copper minerals occur above or peripheral to the primary mineralization and were formed either by in situ oxidation or precipitation following leaching and groundwater transport.

A total of 121 diamond drill holes (10,584 metres) have been completed on the ICE property, 87 of which were drilled in 1997. All but six of the drill holes were drilled in a 600m by 400m area. The outlying drill holes tested a limited number of the soil geochemical anomalies defined on the project. Equally Importantly, there are heli EM geophysical targets along strike from the drilling that have not been tested.

Only a small area over the deposit was subject to a ground-based EM survey and no down hole EM was not run in the historical drill holes. Evaluation of the EM geophysics shows equipment was low powered frequency domain equipment, with a maximum investigation depth of 50m. Use of more modern high powered equipment is expected to be much more effective in defining geophysical targets.

3 To be funded from the Company’s existing cash reserves.

3

The best assay results were obtained near the centre of the drill area in a 350m long, approximately 50 m wide, zone consisting predominantly of primary massive sulphide mineralization. Copper intersections within this zone include:

  • 5.92m @ 8.56% Cu 88.57 to 94.49 m (drill hole ID97-11);

  • o 28.55m @ 3.57% Cu 90.02 to 118.57 m (lD97-13);

  • 28.51m @ 3.20% Cu 13.25 to 41.76 m (lC97-57);

  • o 25.09m @ 3.47% Cu 19.26 to 44.35 m (lC97-46); o 20.56m @ 5.20% Cu 72.10 to 92.66 m (lC96-34); o 19.75m @ 4.31% Cu 79.55 to 99.3 m (lD97-36); o 8.97m @ 4.18% Cu 17.68 to 26.65 m (IC97-84); o 7.55m @ 4.09% Cu 86.77 to 94.32 m (lD97-20); and o 7.43m @ 3.35% Cu 30.97 to 38.40 m (IC97-70).

The resulting 1998 resource of 4.56 Mt @1.48% Cu is a historical and foreign estimate and not reported in accordance with the JORC Code. The resource was estimated in 1998 by consultants to Yukon Zinc when the copper price averaged approximately ~US$0.75 per pound and now the company will look to conduct the required exploration work to bring this resource to JORC standard and use a copper price that more accurately reflects today’s copper price that currently sits upwards of US$4 per pound. A cut-off of 0.5% Cu was applied for the sulphide mineralisation and 0.3% for the oxide mineralisation in the historical foreign non-JORC resource. A preliminary open pit was designed for the deposit at the time of this estimate in 1998. The pit is believed to have been based on only the copper value of the project.

This resource was classified at the time of estimation as an Indicated resource.. A competent person has not done sufficient work to classify the historical estimates or foreign estimates as mineral resources or ore reserves in accordance with the JORC Code; and it is uncertain that following evaluation and/or further exploration work that the historical estimates or foreign estimates will be able to be reported as mineral resources or ore reserves in accordance with the JORC Code

This high-grade core is surrounded by a broad halo containing thick intersections of lower-grade mineralization from 1.5% to 3% in massive sulphide, and 0.5 to 1.5% in secondary copper mineralization closer to surface. The Copper grades in the halo typically range to 1.2% in stockwork sulphide. Massive sulphide mineralization usually contains significant gold (0.2 to 0.8 g/t), silver (2 to 20 g/t) and cobalt (0.02 to 0.08%). The historical diamond drilling at the ICE property has defined a historical, foreign non-JORC indicated mineral resource of 4.56 Mt grading 1.48% copper, which has been verified by evaluation of the available drill hole and assay data.

Commenting on the acquisition, Executive Chairman, Mr Ross Landles, said:

“These highly prospective high-grade Canadian Copper projects have the potential to be a game changer for Bastion and we are extremely proud to have added these projects to our portfolio.”

“The ICE Acquisition represents a fantastic opportunity for Bastion, with a defined high-grade copper (non-JORC) resource of 4.56 Mt @ 1.48 % copper. Interestingly, the historical resource was estimated without including any value for gold, which may add extra value.”

4

“The projects have untested drill targets on EM geophysics and geochemistry, to discover new highgrade mineralised lenses to increase the project size. Bastion intends to rehabilitate road access to the project and re-establish the project camp, to support drilling activities. The deposit is located approximately 20 km from a major provincial road and is 220 km northeast of the provincial capital. ”

Setting

The ICE property is geographically situated on the Yukon Plateau and approximately 30 kilometres northeast of the Tintina Trench. The project straddles a series of low ridges and contains a number of small lakes. Climate in the ICE property area is categorized as continental. It is characterized by relatively long, cold winters with warm dry summers. Annual precipitation averages about 450 millimetres and occurs mostly as rain in summer. Snow cover rarely exceeds 60 centimetres.

Generalized regional geology is described in the following paragraphs and shown on ( Figure 3) . The ICE property is located within the Finlayson District, a 380 by 60 kilometre area comprised primarily of the Yukon-Tanana and Slide Mountain geologic terranes. These terranes represent the innermost of the accreted or "suspect" terranes in the Canadian Cordillera (Mortensen and Jilson, 1985). The northeastern margin of the block is the Finlayson Lake Fault Zone, a complex zone of steep and shallow faults related to transpressive suturing.

The southwestern boundary of the block is the Tintina Fault Zone, a major strike-slip fault with at least 450 kilometres of dextral displacement during Late Cretaceous and/or Early Tertiary time (Tempelman-Kluit et al., 1976). The two terranes were not accreted to North America until Jurassic time; cobbles, from both units, are present in Late Triassic immature sediment that unconformably overlying Slide Mountain and North American stratigraphy (Tempelman-Kluit et al., 1976).

5

==> picture [381 x 548] intentionally omitted <==

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

Yukon NWT
BC
----- End of picture text -----

Figure 1: Location of the ICE project relative to the Wolverine mine and Yukon geographical locations.

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

Campbell
----- End of picture text -----

Figure 2: Location of the ICE project relative to the Yukon Zinc Wolverine and the Kudz Ze Kayah deposit with historical properties shown.

Intrusive rock suites span from the Devonian to Tertiary time. The Slide Mountain Terrane, which hosts the Ice Deposit, is comprised of disrupted oceanic crust and deep-water sedimentary rocks. It includes variably strained, sub greenschist to greenschist facies basaltic greenstone, ultramafic and mafic plutonic rocks, ribbon chert, argillite as well as minor marble. Mapping in various parts of the Canadian Cordillera has subdivided the Slide Mountain Terrane into a structurally lower metasedimentary package and an overlying igneous suite composed of metavolcanic and plutonic rocks. In the Finlayson District, units belonging to the igneous suite are thrust to the northeast over the metasedimentary package and southwest over rocks of the Yukon-Tanana Terrane. A radiolarian from an argillaceous metachert belonging to the metasedimentary package was determined to have a Mississippian-Permian age (Plint and Gordon, 1997).

Metamorphic grade ranges from sub-greenschist to greenschist facies. Plint and Gordon (1997) state that whole rock geochemistry and depositional environments are consistent with a deep submarine basin in either a marginal or ocean basin setting.

In the region around the Ice deposit there are other VHMS deposits, such as the Kudz Ze Kayah, GP4F, Fyre Lake, and Wolverine VHMS deposits.

Claims

Bastion is acquiring 260 quartz claims containing the deposit and highly prospective exploration ground from the administrator of the Wolverine mine. Quartz claims are hard rock mining claims, which require exploration activities to remain in good standing. Exploration expenditure on drilling,

7

assays, geophysics and other exploration activities count towards maintaining properties in good standing. The original diamond drilling and geophysics on the properties has contributed to maintaining them in good standing.

Project Geology

The geology of the Ice deposit area was compiled at a scale of 1:2000, based on mapping of outcrops and drill access roads, logging of diamond drill holes and interpretation of ground magnetometry and electromagnetic response. The area is underlain by relatively unstained, massive or autobrecciated basalts with interbedded argillaceous ribbon cherts. Units generally strike northeast and dip moderately to the southeast. Several steeply-dipping faults have been identified. They exhibit variable strike orientations but displacements are minimal. The project data was compiled in UTM Zone 9N, with the NAD27 datum.

Volcanic rocks in the drill area consist of massive basalt (MSBS), porphyritic pillow basalt (PHBS) and autobrecciated pillow basalt (BRBS). lnterbedded with the basalts are black, grey, green and red ribbon chert (RBCH), massive green and red chert (MSCH), greywacke (SDST) and carbonaceous mudstone (CBMS). Figure 4 illustrates a stratigraphic column for the drill area.

Two massive basalt units (MSBS-1 and 2) underlie the mineralisation, along with a basal breccia basalt unit (BRBS-1) and a lower mudstone and ribbon chert unit, with the chert an exhalative unit. Mineralisation is associated with a level of porphyritic basalt, where mineralisation is overlying the layer of massive basalt and chert bands discussed above. The mineralisation is noted by the code PYMS, associated with the porphyritic basalt PHBS unit. The mineralisation is overlain by a massive basalt unit described as the hanging wall massive basalt, associated with chart bands and an upper mudstone and ribbon chert unit.

Geological units dip moderately (around 50 degrees) towards the southeast and were probably subject to some relatively gentle folding. There are a series of faults that trend NE and SE through the deposit, but none of these appears to have large offsets. Faults trending NE dip to the NW or SE. Faults trending to the NW were historically interpreted to be offset by the NE trending faults, with the NW faults having a near vertical orientation. Faults are associated with gouge zones described in drill core.

Mineralisation Style

Cyprus (mafic)-type deposits are often located in an ocean-ridge or island setting with basalt and pillow lava as host rocks. These display hydrothermal alteration from the mineralizing fluids circulating through the volcanic rocks. The top of the deposit will commonly have an iron-rich sediment, then followed by massive sulphides, and a lower copper-rich stockwork zone. VHMS deposits are present along the western side of North America, extending from California to British Colombia, and through the Yukon into Alaska. The deposits are also common around the Pacific.

Cyprus-type VHMS deposits are relatively high in copper, and low in zinc and lead but can have moderate grades in gold and silver and associated cobalt.

Slide Mountain Terrane units underlying the property consist of variably strained, intercalated, basalts, ultramafic and mafic plutonic rocks, ribbon cherts with associated argillite and sandstone, and minor limestone. Metamorphic grade ranges from sub-greenschist to greenschist facies. Plint and Gordon (1997) state that whole rock geochemistry and depositional environments are consistent with a deep submarine basin in either a marginal or ocean basin setting.

8

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Figure 3: Project area regional geology, within the Slide Mountain geological terrane.

==> picture [410 x 265] intentionally omitted <==

Figure 4: Project stratigraphic column, showing the location of the known mineralisation associated with the porphyritic basalt, with mineralisation developed into the underlying brecciated BRBS-2.

9

Historical Activities

Geophysical surveys

The Ice deposit was discovered by following up a high copper stream sediment sample, which is interpreted to be related to the outcropping part of the Ice VHMS deposit. Once the outcropping parts of the deposit, with oxidised copper mineralisation, were located in 1996 a ground-based electromagnetic survey was carried out over the mineralised zone. This detected two conductors ( Figures 5 to 7 ), which are interpreted to be part of the Ice mineralisation. The survey used a low powered frequency domain EM system, which was not well suited for detection of more than shallow mineralisation.

Following the ground based survey a helicopter mounted frequency domain system was flown over the properties. This system was low powered, with a depth penetration of around 50 m, based on the height of the survey. The survey detected the outcropping and near surface part of the Ice deposit. However, given the characteristics of both surveys and the known mineralisation, re-evaluation of the surveys confirms they had low depth penetration and did not adequately explore the project area for additional VHMS bodies. Most of the conductive responses are near surface. However, the northern extent of these original conductive responses was not drill tested and is a priority for exploration.

Conductive responses on the trend of the mineralised body will be evaluated in the initial exploration, with high power ground based surveys, helicopter surveys and downhole surveying of the historical drill holes (if possible) all considered as part of future activities.

A magnetic survey was also completed over the project area ( Figure 5 ), identifying several different magnetic responses. An elevated band trending through the project area in an arc is interpreted to be the mineralised trend, a key focus for future mineralisation.

Mapping

Once the deposit was discovered in 1996 the stratigraphy of the area was mapped out from geological observations. The host porphyritic basalt unit is interpreted to dip to the southeast, with the trend of this unit continuing to the north-northeast and south-southwest. Outcrop in the project area is relatively limited.

Soil Geochemistry

Extensive grid soil geochemistry was conducted across the project area, identifying the outcropping portion of the deposit in copper and other elements (Au, Co) associated with the deposit. A >100 ppm copper zone extends over the outcropping deposit and further to the southwest and west, in addition to some other discrete zones within the project area. These other areas of elevated copper (Figure 6) have not been drill tested, with the historical drilling concentrated around the area of outcropping copper and the immediately adjacent area, over a distance of 600 by 400 metres. Soils were analysed for a broad multi-element suite of elements, which provides important information on element zonation in the deposit .

Drilling

Drilling was conducted over area of outcropping copper mineralisation, soil geochemistry and EM conductors during 1996 and 1997, with 121 diamond drill holes, of which all but six were drilled on the outcropping deposit. Holes were drilled with a Longyear 38 and Boyles BBS-15 drill rigs, with most of the holes drilled in 1997. Drilling was organised along local grid chain measured lines. Collars were surveyed with a Nikon DTM-A20 total station. The porphyritic basalt unit which is the host to the mineralisation was essentially not drilled to the northeast and southwest, along strike from the deposit.

10

Drilling appears to have closed out the mineralisation in the known Ice deposit, based on the interpretation that the faults intersected during drilling do not have significant offsets and have not displaced part of the deposit.

Drilling intersected upper and lower chert horizons and an upper zone of massive sulphide with chalcopyrite and some bornite, underlain by a zone of stockwork chalcopyrite mineralisation. VHMS deposits often consist of stacked lenses at different depths. No significant drilling has tested for this possibility below the Ice deposit.

Given the stratabound nature of the mineralisation there has been very limited exploration along strike, with significant potential for the discovery of new deposits in the project area in a similar setting to the Ice deposit.

The best assay results were obtained near the centre of the drill area in a 350 m long, approximately 50 m wide zone consisting predominantly of primary massive sulphide mineralization. Copper intersections within this zone are provided in the initial part of this announcement and include intersections from the interpreted feeder zone such as 28.55m @ 3.57% Cu from 90.02 to 118.57 m (lD97-13).

==> picture [466 x 329] intentionally omitted <==

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

Interpreted
host basalt
trend
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Figure 5: Drill hole locations of aeromagnetics and the interpreted principal trend of host basalts.

11

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

Drilling
Open
geochemical
trends
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Figure 6: Soil geochemistry trends open to the south and areas of interest.

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

Open EM
target
Geochem
targets
Coincident EM
and Geochem
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Figure 7: Soil geochemistry and EM trends and targets. EM untested to the north (survey penetration was maximum 50 m depth), soils untested to the south and west.

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Alteration generally consists of quartz and less commonly epidote amygdule’s surrounded by light brown fine-grained masses of cordierite(?) within brecciated meta-basalt. The most proximal alteration consists of chlorite within a brecciated quartz, pyrite and hematite stockwork. This intense stockwork zone is commonly separated from the overlying massive sulphide by up to 30 metres of massive, or auto-brecciated meta-basalt.

Resource Estimation

The original resource was estimated in 1998 using a sectional methodology and Mapinfo Discover, over 50 m spaced sections and length weighted averages for copper. Copper grades were then interpolated between drill holes on each section using an inverse distance weighted algorithm and a 1 m block size. A 75 m by 25 m search ellipse oriented at 120 degrees was used for the drill hole data, with results clipped to the interpreted outline of the sulphide body. An average specific gravity of 4.00 was used for the density of the massive sulphide. The historical foreign non-JORC Indicated resource estimate (Table 1) was 4.56 Mt, with a copper grade of 1.48% (Becker, 1998).

The resource estimation had a minimum thickness for mineralised blocks of 3 m and a maximum of 3 m of internal waste. None of the high grade values were cut or capped.

As required by ASX rule 5.12 the following information is provided below and in Table 1 below. Drill collars for ICE drillholes are provided in Table 2. The historical foreign resource estimate did not include gold or other elements as copper equivalent values. Only copper is included in the estimate in this announcement. Gold assays were not available for all of the drill holes and were not included in the estimate. Gold has grades up to 0.8 g/t, with elevated silver and cobalt values. These could add additional value to the deposit (Table 3). The resource also does not include near-surface material which was not cored in drill holes or surficial material grading up to 0.29% copper. This potentially could provide some near-surface upside to the historical resource.

The resource is considered to be material to Bastion and validation of details of this historical foreign resource is a priority for the company. The resource was prepared by a consultant to the property owner at the time (Becker, 1998), as reported in an internal company report. The historical estimate used a category of mineralisation that is defined in Appendix 5A (JORC Code). The resource was prepared based on 116 of 121 drillholes drilled on the properties at the time of resource estimation. The resource was prepared using specific gravity data collected systematically by the assay laboratory and based on what appears to be a robust geological model. The resource was independently reviewed and audited by Thompson (1998), who confirmed the results of the estimation.

Bastion has built a geological model from the geological and assay data and evaluated the original resource tonnage and grade, confirming the original resource estimate. Assay results from the original program are available, including the original soil and drill hole assay certificates from Chemex Laboratories. The drillholes and assay results, coloured by copper concentration are shown in Figure 8 . Drilling appears to have closed off the limits to most of the ICE deposit. However, the potential for stacked mineralised lenses and further mineralisation in brecciated horizons has not been adequately tested, and is the key opportunity for the project. Recommended additional exploration and evaluation work is provided at the end of this announcement.

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ASX Listing Rule BMO Response
5.12 - Subject to rule 5.13, an entity reporting historical
estimates or foreign estimates of mineralisation in
relation to a material mining project must include all of
the following information in a market announcement
and give it to ASX for release to the market.
Please see sections below
5.12.1 - The source and date of the historical
estimates or foreign estimates.
Primary Source
Report describing mineral resource calculations at ICE
property Latitude 61o53’N; Longitude 131o21’W NTS
105G/13 and 14 in the Watson Lake Mining District,
Yukon Territory. Prepared by Archer, Cathro &
Associates (1981) Limited for Expatriate Resources Ltd.
TC Becker, B.Sc., P. Geo. May 1998.
Secondary Source
Audit of mineral resources of ICE deposit, Yukon for
Expatriate Resources Ltd. By I.S. Thompson, P.Eng. for
Derry,Michener,Booth&WahlConsultantsLtd.
5.12.2 - Whether the historical estimates or foreign
estimates use categories of mineralisation other than
those defined in Appendix 5A (JORC Code) and if so,
an explanation of the differences.
Reference to the category of mineralisation at the time
was Indicated Resources, as reiterated in the Audit
report. While not a JORC-compliant resource, the
classification is consistent with the categories of
mineralisation used by the JORC code (2012). The
estimate was made prior to the JORC Code (2012)
reporting guidelines formulated.
5.12.3 - The relevance and materiality of the historical
estimates or foreign estimates to the
entity.
The historical estimate for the ICE deposit is relevant and
material to BMO’s project portfolio, as it pertains to a
project that could potentially be economically viable
for the Company. This data is relevant to ongoing
exploration efforts of the Company, which will look to
expand the resource in the ICE project through new
explorationactivities.
5.12.4 - The reliability of the historical estimates or foreign
estimates, including by reference to any of the criteria
in Table 1 of Appendix 5A (JORC Code) which are
relevant to understanding the reliability of the historical
estimates or foreign estimates.
The
historical
estimate
appears
to
have
been
conducted with a reasonable technical basis by the
author (T. Becker) in 1998. It was independently audited
by consultants Derry, Michener, Booth & Wahl in 1998,
following completion of the estimate.
The available information meets most JORC Table 1
requirements, with the availability of collar and survey
data, digital geological logs, assay data, original assay
certificates, consultants reports regarding geophysical
surveys and the results of soil sampling activities.
Information is available on drilling and core recovery,
core
diameters,
geological
logging
codes
and
description of cores, the orientation of drilling relative to
the orientation of mineralization assay techniques,
preparation and detection limits.
Drilling spacing and sampling is considered appropriate
for a deposit of this type. The exploration programs
conducted
were
well
documented
in
historical
company
reports.
Geophysical
programs
were
conducted at the time of exploration. With more recent
innovations in surveying equipment the historical surveys
have less investigation depth than current surveying
equipment.
A significant number of specific gravity samples were
analysed by the analytical laboratory, as part of the
data collection for resource estimation. The analytical
laboratory, Chemex, was later acquired by ALS
laboratories, a major international laboratory group with
high standards.
Resource estimation using the sectional method (50 m
spaced sections) and manually defined polygons is a
standard method used historically and is considered
reasonable for this style of deposit and the date of the
estimate.
The
geological
model
is
simple
and
reasonable.No grade capping orcuttingisknown to

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have occurred, which appears reasonable, with gold
not included in the historical estimation.
The cut-off grades applied at the time of the estimate
are considered to have been reasonably selected and
applied. The resource classification as Indicated is
considered reasonable, with the amount of information
available.
Although the historical foreign information did not
include standard or duplicate QA/QC chemical
analyses (which was normal procedure for the time
when the resource was estimated in 1998) the available
information collected and used for the resource
estimate, and the knowledge that an independent
audit of the estimate was conducted, suggest the
historical foreignestimateisreliable.
5.12.5 - To the extent known, a summary of the work
programs on which the historical estimates or foreign
estimates are based and a summary of the key
assumptions, mining and processing parameters and
methods used to prepare the historical estimates or
foreign estimates.
To the extent known to the Company, the historic
reports indicate the following activities occurred on the
property, contributing to the estimation of the historical
foreign resource:

The company conducted helicopter based
magnetic and Electromagnetic surveys and a
local ground-based Electromagnetic survey
over the area around the outcropping
deposit.

Expatriate Resources drilled 121 diamond HA
and NQ holes in 1996 and 1997, with 116 of
these holes into the ICE deposit and the others
to the southwest.

An initial open pit design was made, as it was
considered at the time that the majority of the
resource could be extracted from an open pit.

Cut-offs of 0.3% copper for oxide dominant
blocks and 0.5% copper for sulphide dominant
blocks were selected. The exact basis for
selection of these cut-off levels is not specified.
5.12.6 - Any more recent estimates or data relevant to
the reported mineralisation available to the entity.
To the extent known to the Company from historic
reports no further drilling or geophysical has taken place
since the resource estimate. A re-evaluation of the
geophysics
undertaken
was
undertaken
by
a
consultant Jan Klein in 2002, along with preparation of a
report on planned future activities - Summary Report for
the Finlayson North Project in the Watson Lake Mining
District Yukon Territory, Canada. T. Tucker, B.Sc.
Geology, P.Geo. J. Moore B.A., M.Sc. Geology.
5.12.7 -The evaluation and/or exploration
work that needs to be completed to verify the
historical estimates or foreign estimates as mineral
resources or ore reserves in accordance with
Appendix 5A (JORC Code)
Field work is required that includes surveying the
location of all historical drill holes and where possible
checking the azimuth and dip of holes. Ideally historical
drill core will be located in such a state that re-assaying
of a portion of the holes can be undertaken, including
analysis for gold. It is likely that twin hole drilling of a
portion of the original holes in the deposit will be
required to verify the historical work and estimate in
accordance with Appendix 5A (JORC Code). A
geological model will be built from historical drill hole
logging data and information from twin holes. Assaying
will include full QA/QC procedures, such as standards,
duplicates and blanks.
5.12.8 - The proposed timing of any evaluation and/or
exploration work that the entity intends to undertake
and a comment on how the entity intends to fund
that work.
BMO is planning to visit the project as soon as practical
and to collect field information on the location of
historical drill holes. BMO will also be applying for an
environmental permit to allow validation geochemical
soilsampling ofuntested copper insoil results andto

15

conduct ground-based geophysical surveys to follow
up on historical work.
BMO will fund this initial validation and exploration work
from existing funds and additional funds raised as
required, in compliance with listing rules, its Constitution,
market
conditions
and
appropriate
shareholder
approval.
5.12.9 - A cautionary statement proximate to, and with
equal prominence as, the reported historical estimates
or foreign estimates stating that: the estimates are
historical estimates or foreign estimates and are not
reported in accordance with the JORC Code; a
competent person has not done sufficient work to
classify the historical estimates or foreign estimates as
mineral resources or ore reserves in accordance with
the JORC Code; and it is uncertain that following
evaluation and/or further exploration work that the
historical estimates or foreign estimates will be able to
be reported as mineral resources or ore reserves in
accordance with the JORC Code.
The following cautionary statement has been inserted in
the report proximal to mention of historical resources,
immediately beneath the headline statement on page
1 of the announcement. That statement is repeated
below for consistency:
A competent person has not done sufficient work to
classify the historical foreign estimate as mineral
resources or ore reserves in accordance with the JORC
Code (2012); and it is uncertain that following
evaluation and/or further exploration work that the
historical foreign estimate will be able to be reported as
mineral resources or ore reserves in accordance with
the JORC Code.
5.12.10 - A statement by a named competent person
or persons that the information in the market
announcement provided under rules 5.12.2 to 5.12.7
is an accurate representation of the available data
and studies for the material mining project. The
statement must include the information referred to in
rule 5.22(b) and (c).
Murray Brooker, Independent Consulting Geologist to
BMO is the Competent Person for this announcement.
The following statement has been included in the
Competent Person section:
“The information in this announcement that relates to
historical exploration reporting and historical foreign
non-JORC resources has been prepared by Mr. Murray
Brooker (AIG #3503; RPGEO # 10,086), of Hydrominex
Geoscience Pty Limited. The information in the market
announcement provided under rules 5.12.2 to 5.12.7 is
an accurate representation of the available data and
studies for the material mining project and the
information referredtoin rule 5.22(b) and (c).”

Table 1: ASX rule 5.12 information.

Mariner and Harley Copper Projects (NWT)

The Harley Copper project (Figure 10) covers 310 km[2] in two prospecting licenses located near Great Bear Lake in northern NWT with potential for VHMS, IOCG and strataform copper mineralisation. The latter is of particular interest, as historical work identified a prospective horizon over 1 km of strike with copper silver mineralisation in trenches, continuing into areas of cover. Sedimentary copper deposits are of particular interest, as they can be very large, with simple metallurgy.

Two holes (to depths of 32 and 50.6 m) were drilled from the same pad and two mineralised horizons were identified within a conglomerate and sandstone package, with chalcopyrite mineralisation (see Table 4). The company is compiling further data on this.

The Mariner Copper project (Figure 10) is a 155 km[2] prospecting licence located near Great Bear Lake in northern NWT and is surrounded by White Cliff Minerals Ltd (ASX:WCN) Port Radium project, in an area with high prospectivity for Iron Oxide Copper Gold mineralisation with associated uranium. This is one of Canada’s most established uranium exploration districts, with historical production. Twenty seven shallow holes (24 to 80 m) were drilled from south to north along a quartz breccia with copper mineralisation. See Table 5 for details of historical drilling). The company is compiling further data on this.

16

==> picture [488 x 345] intentionally omitted <==

Figure 10: Map showing location of Harley and Mariner in the NWT, relative to the ICE project in the Yukon.

Next Steps and Activities

Once the transaction is completed Bastion will evaluate whether drill holes on the ICE project can be re-entered, in order to collect downhole EM data, to look for off-hole conductors laterally to or deeper than the historical drilling. If holes can be re-entered the survey orientations will be checked on a selection of holes.

If drill core is located and is in reasonable condition then a program of check re-sampling will be undertaken, to confirm the original results and to obtain gold assays on holes where information is not available. New measurements of specific gravity would be made to check the original results, with samples taken from twin drill holes.

If drill core is not located then Bastion will undertake a program of twinning original resource holes, to assess repeatability of the original results and to assay for copper and a broad suite of associated elements, as historical assays identified elevated gold and cobalt, in addition to copper. Assays will consist of primary samples, field duplicates and certified reference material and blank samples, to assess the quality and repeatability of assays. Assays will be compared to twin holes.

Depending on whether holes are accessible a decision will be made about a new deep-penetrating EM survey, considering the airborne and ground-based options. These will be used to evaluate the undrilled extension of conductors associated with the known Ice deposit, to generate drill targets.

High priority soil geochemical targets will be re-sampled, to confirm the tenor of the original samples and to prioritise them as drill targets.

17

Drill targets will be defined with geochemical and geophysical data, evaluating the known host rock horizon and other potential host horizons in the project area.

Regarding the Harley and Mariner projects, Bastion is currently reviewing historical exploration data and will provide an update to the market shortly on how it plans to advance these highly prospective projects.

Transaction Terms

The Company has entered into a Share Purchase Agreement (SPA) with Knightons Way Pty Ltd and Marnus Botha (together the Sellers) 29 July 2024 to acquire 100% of the issued capital of Arcus Resources Pty Ltd (ACN 674 782 220) (Arcus) (Transaction).

The ICE Copper-Gold Project was owned by Yukon Zinc Corporation, a company incorporated in Canada (Company No. 137111183) (Yukon Zinc) which was placed into receivership on 13 September 2019. Arcus entered into a binding agreement on 22 May 2024 (ICE Project Agreement) with PriceWaterhouseCoopers Inc as bankruptcy trustee for Yukon Zinc (Receiver) to acquire the ICE Copper-Gold Project (ICE Acquisition). The ICE Project Agreement is currently in the process of being approved by the Canadian courts, which is expected to be finalised within the next 2-3 weeks at which point the consideration under the ICE Project Agreement will be paid to the Receiver and the ICE Project will be transferred to Arcus. The transfer of the claims the subject of the ICE Project is expected to take 2-4 weeks depending on mining registrar workload.

The Mariner and Harley Projects are owned by Aurora Geosciences Ltd, a northern Canadian geological services company located at 3506 McDonald Drive Yellowknife, NX X1A 2Hi, Canada as trustee for Arcus and the tenement transfer forms for the Mariner and Harley Projects will be lodged with the Northwest Territories mines department and recorded on receipt of a Prospectors License. It is a condition to completion of the Transaction under the SPA (Completion) that 100% ownership of the ICE Copper-Gold Project and Mariner and Harley Copper Projects have been transferred to Arcus.

BMO will make the following payments to the Sellers at settlement of the Transaction under the terms of the SPA:

  • $140,000 cash;

  • 187,500,000 fully-paid ordinary shares in BMO (BMO Shares) at an issue price of $0.008 (Consideration Shares);

  • 93,750,000 options over BMO Shares with an exercise price of $0.03 expiring 3 years from the date of issue (Consideration Options);

  • 62,500,000 Performance Shares convertible into BMO Shares upon the Company achieving a drilling intersection of at least 15m @ 1% Copper across one of the Projects within 24 months of the date of issue (Performance Shares Tranche 1); and

  • 62,500,000 Performance Shares convertible into BMO Shares upon the Company achieving a 10Mt JORC resource @ 1% Copper across one of the Projects within 36 months of the date of issue (Performance Shares Tranche 2).

The Consideration Shares will be voluntarily escrowed by the Sellers in the following proportions:

  • 46,875,000 (25%) – nil;

  • 46,875,000 (25%) – 3 months from date of issue;

  • 46,875,000 (25%) – 6 months from date of issue; and

18

  • 46,875,000 (25%) – 12 months from date of issue.

The Transaction has been introduced to BMO by its corporate adviser, GTT. In consideration for introducing the Transaction, GTT (or its nominees) will receive 18,750,000 BMO Shares (Introducer Shares) and 18,750,000 options over BMO Shares with an exercise price of $0.03 expiring 3 years from the date of issue (Introducer Options).

BMO will hold an EGM within 60 days of execution of the SPA to approve the issue of the Consideration Shares, Consideration Options, Performance Shares Tranche 1, Performance Shares Tranche 2 and Introducer Shares and Introducer Options.

This announcement was approved for release by the Executive Chairman of Bastion Minerals.

For more information contact:

Ross Landles [email protected]

APPENDIX 1

Statements and Disclaimers

Competent Person Statement

The information in this announcement that relates to historical exploration reporting and historical foreign non-JORC resources has been prepared by Mr Murray Brooker (AIG #3503; RPGEO # 10,086), of Hydrominex Geoscience Pty Limited. The information in the market announcement provided under rules 5.12.2 to 5.12.7 is an accurate representation of the available data and studies for the material mining project and the information referred to in rule 5.22(b) and (c).

Mr Brooker, who is an independent geological consultant to Bastion Minerals, is a Member of the Australian Institute of Geoscientists, (AIG), and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking to qualify as the “Competent Person” as defined in the 2012 Edition of the Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves . Mr Brooker consents to the inclusion in the announcement of the matters based on this information in the form and context in which it appears. The announcement is based on and fairly represents information and supporting documentation prepared by the competent person.

Forward-Looking Statements

Certain statements contained in this Announcement, including information as to the future financial or operating performance of Bastion Minerals and its projects may also include statements which are ‘forward ‐ looking statements’ that may include, amongst other things, statements regarding targets, estimates and assumptions in respect of mineral reserves and mineral resources and anticipated grades and recovery rates, production and prices, recovery costs and results, capital expenditures and are or may be based on assumptions and estimates related to future technical, economic, market,

19

political, social and other conditions. These ‘forward-looking statements’ are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Bastion Minerals, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies and involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward ‐ looking statements.

Bastion Minerals disclaims any intent or obligation to update publicly or release any revisions to any forward ‐ looking statements, whether as a result of new information, future events, circumstances or results or otherwise after the date of this Announcement or to reflect the occurrence of unanticipated events, other than required by the Corporations Act 2001 (Cth) and the Listing Rules of the Australian Securities Exchange ( ASX ). The words ‘believe’, ‘expect’, ‘anticipate’, ‘indicate’, ‘contemplate’, ‘target’, ‘plan’, ‘intends’, ‘continue’, ‘budget’, ‘estimate’, ‘may’, ‘will’, ‘schedule’ and similar expressions ‐ identify forward looking statements.

All ‘forward ‐ looking statements’ made in this Announcement are qualified by the foregoing cautionary statements. Investors are cautioned that ‘forward ‐ looking statements’ are not guarantee of future ‐ performance and accordingly investors are cautioned not to put undue reliance on ‘forward looking statements’ due to the inherent uncertainty therein.

For further information please visit the Bastion Minerals website at www.bastionminerals.com

REFERENCES

Becker, T.C. 1998a. Assessment report describing geological mapping, soil geochemistry and diamond drilling on the Ice property for Expatriate resources, February, 1998.

Becker T.C. 1998b. Report describing mineral resource calculations at Ice property in the Watson Lake Mining District, Yukon Territory, for Expatriate Resources Ltd. May, 1998.

Plint H.E. and Gordon T.M. (1997). The Slide Mountain Terrane and the structural evolution of the Finlayson Lake Fault Zone, southeastern Yukon in: Canadian Journal of Earth Sciences 34: p 105126.

Tempelman-Kluit D.J., Gordey, S.P. and Read, B.C. 1976. Stratigraphic and structural studies in the Pelly Mountains Yukon Territory; Geological Survey of Canada Paper 76-1A, p 97-106.

Thompson, I. S. 1998. Audit of Mineral Resources of Ice Deposit, Yukon, for Expatriate Resources Ltd. By Derry, Michener, Booth & Wahl Consultants Ltd. November 19. 1998.

Tucker , T. and Moore J. May 9th, 2002. A Summary Report for the Finlayson North Project in the Watson Lake Mining District Yukon Territory, Canada. Expatriate Resources Ltd Internal Report.

20

**Collar_ID ** **EastingUTM9_Nad27 ** **NorthingUTM9_Nad27 ** Nad27_Elevation Azimuth Dip EOH
IC96-01 376627 6862488 1256 305 -50 182
IC96-02 376788 6862687 1290 288 -50 116
IC96-03 376807 6862636 1278 316 -50 152
IC96-04 376723 6862638 1283 308 -50 148
IC96-05 376690 6862476 1246 306 -50 66
IC96-06 376709 6862596 1276 304 -50 93
IC96-07 376750 6862557 1262 320 -50 53
IC96-08 376632 6862646 1286 0 -90 74
IC96-09 376632 6862646 1286 128 -50 74
IC96-10 375995 6862395 1240 165 -51 84
IC96-11 376311 6862388 1238 300 -51 78
IC96-12 376593 6862675 1298 306 -50 70
IC96-13 376830 6862747 1301 315 -48 99
IC96-14 376671 6862618 1275 308 -50 57
IC96-15 376725 6862719 1291 308 -50 90
IC96-16 376630 6862648 1286 308 -50 54
IC96-17 376577 6862564 1272 308 -50 65
IC96-18 376689 6862726 1296 305 -50 77
IC96-19 376391 6862328 1222 308 -50 59
IC96-20 376654 6862750 1313 310 -50 64
IC96-21 376590 6862507 1259 312 -50 46
IC96-22 376533 6862597 1285 308 -50 45
IC96-23 376616 6862781 1330 307 -50 105
IC96-24 376484 6862637 1316 305 -50 78
IC96-25 376533 6862534 1265 0 -90 52
IC96-26 376580 6862810 1351 308 -50 56
IC96-27 376533 6862534 1265 130 -50 46
IC96-28 376846 6862862 1322 303 -50 85
IC96-29 376789 6862775 1309 303 -50 66
IC96-30 376908 6862814 1298 315 -49 82
IC96-31 376750 6862806 1323 308 -49 62
IC96-32 376767 6862920 1362 296 -50 55
IC96-33 376710 6862835 1337 310 -50 56
IC96-34 376870 6862715 1288 305 -50 115
IC97-35 376650 6862633 1281 0 -90 46
IC97-36 376630 6862648 1286 0 -90 42
IC97-37 376590 6862678 1300 0 -90 40
IC97-38 376611 6862662 1291 0 -90 35
IC97-39 376670 6862619 1275 0 -90 32
IC97-40 376690 6862603 1278 0 -90 35
IC97-41 376713 6862593 1275 0 -90 36
IC97-42 376732 6862574 1267 0 -90 15
IC97-43 376471 6862521 1265 0 -90 38
IC97-44 375921 6862509 1267 270 -50 165
IC97-45 375921 6862509 1267 305 -50 111
IC97-46 376680 6862674 1289 0 -90 47
IC97-47 376621 6862594 1275 0 -90 34
IC97-48 376601 6862608 1279 0 -90 32
IC97-49 376660 6862688 1287 0 -90 29

21

**Collar_ID ** **EastingUTM9_Nad27 ** **NorthingUTM9_Nad27 ** Nad27_Elevation Azimuth Dip EOH
IC97-50 376580 6862623 1284 0 -90 34
IC97-51 376551 6862583 1279 0 -90 30
IC97-52 376571 6862568 1274 0 -90 34
IC97-53 376581 6862561 1271 115 -70 37
IC97-54 376513 6862549 1269 0 -90 34
IC97-55 376710 6862714 1289 0 -90 36
IC97-56 376700 6862784 1319 0 -90 77
IC97-57 376730 6862699 1292 0 -90 42
IC97-58 376680 6862799 1324 0 -90 40
IC97-59 376660 6862814 1333 0 -90 39
IC97-60 376625 6862770 1325 0 -90 54
IC97-61 376737 6862628 1281 0 -90 41
IC97-62 376770 6862794 1318 0 -90 80
IC97-63 376721 6862644 1282 0 -90 29
IC97-64 376700 6862659 1281 0 -90 37
IC97-65 376750 6862809 1323 0 -90 33
IC97-66 376681 6862549 1263 0 -90 17
IC97-67 376800 6862834 1325 0 -90 45
IC97-68 376661 6862563 1264 0 -90 18
IC97-69 376611 6862538 1266 0 -90 31
IC97-70 376789 6862780 1310 0 -90 49
IC97-71 376582 6862499 1258 0 -90 26
IC97-72 376601 6862483 1254 0 -90 27
IC97-73 376732 6862823 1329 0 -90 33
IC97-74 376720 6862769 1312 0 -90 50
IC97-75 376631 6862523 1261 0 -90 31
IC97-76 376651 6862509 1258 0 -90 31
IC97-77 376740 6862754 1305 0 -90 45
IC97-78 376641 6862578 1269 0 -90 31
IC97-79 376650 6862758 1316 0 -90 50
IC97-80 376553 6862519 1254 0 -90 27
IC97-81 376620 6862718 1309 0 -90 46
IC97-82 376695 6862725 1295 0 -90 46
IC97-83 376639 6862703 1300 0 -90 47
IC97-84 376760 6862739 1297 0 -90 40
IC97-85 376681 6862735 1298 0 -90 43
ID97-01 376870 6862714 1288 312 -75 173
ID97-02 376930 6862676 1267 310 -50 210
ID97-03 376930 6862676 1267 310 -70 178
ID97-04 376851 6862731 1295 303 -50 98
ID97-05 376850 6862666 1278 318 -50 264
ID97-06 377008 6862621 1255 314 -50 189
ID97-07 376850 6862666 1278 318 -80 175
ID97-08 376912 6862615 1257 307 -50 132
ID97-09 377008 6862621 1255 305 -72 187
ID97-10 376912 6862615 1258 300 -80 150
ID97-11 376944 6862724 1273 309 -51 190
ID97-12 376907 6862752 1286 303 -49 168
ID97-13 376943 6862787 1283 305 -50 149

22

**Collar_ID ** **EastingUTM9_Nad27 ** **NorthingUTM9_Nad27 ** Nad27_Elevation Azimuth Dip EOH
ID97-14 376988 6862691 1264 309 -51 192
ID97-15 376975 6862828 1284 305 -49 128
ID97-16 376988 6862691 1264 310 -75 194
ID97-17 377009 6862801 1275 307 -50 132
ID97-18 376995 6862749 1267 307 -44 178
ID97-19 377012 6862802 1274 304 -69 178
ID97-20 376995 6862749 1267 308 -66 157
ID97-21 377089 6862752 1263 309 -52 155
ID97-22 377057 6862704 1260 307 -50 146
ID97-23 377089 6862752 1263 311 -70 272
ID97-24 377057 6862704 1260 306 -70 159
ID97-25 377062 6862649 1254 309 -58 186
ID97-26 377047 6862843 1271 301 -70 165
ID97-27 376927 6862859 1302 308 -51 110
ID97-28 376846 6862609 1267 306 -50 146
ID97-29 376884 6862832 1303 306 -48 63
ID97-30 376797 6862707 1295 305 -47 103
ID97-31 376856 6862789 1301 309 -50 101
ID97-32 377086 6862881 1274 306 -72 111
ID97-33 377118 6862781 1264 305 -49 159
ID97-34 376887 6862577 1254 310 -50 169
ID97-35 376839 6862492 1244 306 -50 89
ID97-36 376883 6862709 1284 306 -54 175

Table 2: ICE project historical drill collars

23

DDH From To Interval Cu% Co% **Aug/t ** Ag g/t DDH From To Interval Cu% Co% **Aug/t ** Ag g/t
IC96-01 19.9 21.34 1.44 1.05 0.009 0.6 IC97-58 33.83 35.36 1.53 0.01 0.003 0
IC96-01 21.34 23.5 2.16 1.11 0.009 0 IC97-58 35.36 36.88 1.52 0.02 0.003 0
IC96-01 23.5 24.75 1.25 0.98 0.010 0.2 IC97-58 36.88 38.4 1.52 0.03 0.004 0
IC96-01 24.75 26.67 1.92 0.32 0.002 0 IC97-59 3.3 4.27 0.97 0.52 0.003 3.8
IC96-01 26.67 28.18 1.51 0.54 0.001 0 IC97-59 4.27 5.79 1.52 0.31 0.003 1.4
IC96-01 28.18 29.9 1.72 0.5 0.006 0.2 IC97-59 5.79 7.31 1.52 0.20 0.004 0.6
IC96-01 29.9 31.4 1.5 0.56 0.002 0.02 0 IC97-59 7.31 8.8 1.49 0.27 0.004 0.4
IC96-01 31.4 33 1.6 0.63 0.009 0.005 0.2 IC97-59 8.8 10.06 1.26 0.18 0.003 0.2
IC96-01 38.05 39.62 1.57 0.32 0.004 0.2 IC97-59 13.11 14.63 1.52 0.33 0.004 0
IC96-01 40.5 42.06 1.56 0.39 0.004 0 IC97-59 15.76 16.7 0.94 0.78 0.014 0
IC96-02 19 20.73 1.73 0.38 0.010 0.005 0 IC97-60 3.05 4.27 1.22 0.22 0.004 0
IC96-02 24.99 26.76 1.77 1.02 0.022 0.02 1.4 IC97-60 6.5 7.31 0.81 0.24 0.005 0
IC96-02 26.76 28.75 1.99 4.1 0.030 0.03 1.4 IC97-60 7.31 8.83 1.52 0.55 0.005 0
IC96-02 28.75 30.17 1.42 4.72 0.005 0 IC97-60 8.83 10.36 1.53 0.41 0.004 0.8
IC96-02 30.17 31.7 1.53 1.13 0.010 0 IC97-60 10.36 11.88 1.52 0.43 0.003 0.8
IC96-02 31.7 32.92 1.22 1.93 0.008 0 IC97-60 11.88 13.41 1.53 0.32 0.004 2.2
IC96-02 32.92 34.44 1.52 0.93 0.014 0.2 IC97-60 13.41 14.44 1.03 0.36 0.005 3.6
IC96-02 34.44 37.4 2.96 0.56 0.027 0.015 0.6 IC97-60 14.44 15.39 0.95 0.17 0.004 0
IC96-02 39.01 40.54 1.53 0.39 0.009 0 IC97-60 16.46 17.98 1.52 0.13 0.003 0.2
IC96-02 40.54 42.06 1.52 0.46 0.012 0.005 0 IC97-60 17.98 19.51 1.53 0.25 0.004 0
IC96-02 42.06 43.59 1.53 0.99 0.012 0 IC97-60 19.51 21.03 1.52 0.21 0.004 0.2
IC96-02 43.59 45.55 1.96 2.97 0.033 0.02 0 IC97-60 21.03 22.56 1.53 0.26 0.004 0
IC96-02 45.55 46.63 1.08 5.03 0.016 0.015 0 IC97-60 22.56 23.77 1.21 0.41 0.004 1.2
IC96-02 46.63 48.16 1.53 7.13 0.048 0 IC97-60 23.77 25.3 1.53 0.29 0.006 1.8
IC96-02 48.16 49.35 1.19 8.29 0.035 0.01 0 IC97-60 25.3 26.43 1.13 0.50 0.011 3.4
IC96-02 49.35 50.57 1.22 1.49 0.023 0.095 1.8 IC97-60 26.43 27.13 0.7 0.27 0.004 2.6
IC96-02 50.57 53.08 2.51 1.2 0.015 0.09 2 IC97-60 27.13 28.65 1.52 0.13 0.004 1.4
IC96-02 53.08 54.55 1.47 0.59 0.016 0.01 0 IC97-60 28.65 30.18 1.53 0.29 0.005 3.4
IC96-02 54.55 56.62 2.07 0.86 0.014 0 IC97-60 30.18 31.7 1.52 0.42 0.005 7.8
IC96-02 56.62 58.24 1.62 0.45 0.011 0 IC97-60 31.7 33.3 1.6 0.32 0.005 5.6
IC96-03 60.35 61.57 1.22 1.32 0.014 0.04 2.2 IC97-62 40.84 42.37 1.53 0.01 0.003 0
IC96-03 61.57 62.71 1.14 1.18 0.011 0.05 1.6 IC97-62 42.37 43.89 1.52 0.01 0.005 0
IC96-03 117.71 118.81 1.1 0.3 0.010 1 IC97-65 13.75 15.3 1.55 0.22 0.005 0
IC96-03 118.81 120.4 1.59 0.35 0.011 0.2 IC97-65 15.3 16.8 1.5 0.05 0.004 0
IC96-03 120.4 121.92 1.52 0.33 0.013 0.01 0.2 IC97-65 16.8 18.29 1.49 0.03 0.006 0
IC96-03 121.92 122.85 0.93 0.45 0.012 0.015 0.2 IC97-66 4.3 5.6 1.3 0.34 0.003 0
IC96-04 15.48 17.07 1.59 0.34 0.004 0 IC97-67 16.15 17.68 1.53 0.01 0.003 0
IC96-04 17.07 17.98 0.91 0.32 0.003 0.005 0 IC97-67 17.68 19.51 1.83 0.01 0.003 0
IC96-04 18.9 20.27 1.37 0.39 0.003 0 IC97-67 20.22 21.34 1.12 0.14 0.005 0
IC96-04 22.56 23.62 1.06 1.02 0.051 0 IC97-67 24.08 25.6 1.52 0.02 0.003 0
IC96-04 26.52 28.04 1.52 0.46 0.009 0 IC97-68 5.5 7.01 1.51 0.14 0.003 0
IC96-04 28.04 29.11 1.07 0.46 0.009 0 IC97-68 7.01 8.38 1.37 0.13 0.002 0
IC96-04 29.11 30.18 1.07 0.39 0.014 0 IC97-68 8.38 10.36 1.98 0.24 0.004 0
IC96-04 30.18 31.09 0.91 0.48 0.043 0 IC97-68 10.36 13.11 2.75 0.02 0.005 0
IC96-04 32.46 33.15 0.69 0.33 0.014 0.015 0 IC97-69 3.66 5.4 1.74 0.26 0.001 0
IC96-04 33.15 34.75 1.6 0.31 0.017 0 IC97-69 5.4 6.4 1 0.25 0.001 0
IC96-04 38.56 40.23 1.67 0.47 0.035 0 IC97-69 10.97 12.5 1.53 0.40 0.001 0.6
IC96-06 8.21 9.34 1.13 0.39 0.005 0.2 IC97-72 16.46 17.53 1.07 0.28 0.002 0

24

DDH From To Interval Cu% Co% **Aug/t ** Ag g/t DDH From To Interval Cu% Co% **Aug/t ** Ag g/t
IC96-06 9.34 10.36 1.02 0.3 0.006 0.2 IC97-72 17.53 19.35 1.82 0.17 0.000 0
IC96-06 11.25 12.69 1.44 0.39 0.005 0.2 IC97-73 2.1 3.66 1.56 0.24 0.011 0
IC96-06 16.46 17.48 1.02 0.38 0.003 0.2 IC97-73 8.53 10.06 1.53 0.77 0.008 1
IC96-06 17.48 18.5 1.02 0.69 0.002 0.2 IC97-73 10.06 11.73 1.67 1.30 0.008 0
IC96-06 18.5 19.51 1.01 0.97 0.003 0 IC97-73 11.73 13.41 1.68 0.44 0.004 0
IC96-06 19.51 20.5 0.99 2.92 0.003 0 IC97-73 13.41 14.78 1.37 0.24 0.003 0
IC96-06 20.5 21.34 0.84 2.98 0.002 0 IC97-73 14.78 16.31 1.53 0.01 0.003 0
IC96-06 21.34 22 0.66 1.07 0.002 0 IC97-73 16.31 17.68 1.37 0.03 0.003 0
IC96-06 22 22.6 0.6 2.47 0.003 0.2 IC97-73 17.68 19.2 1.52 0.04 0.003 0
IC96-06 22.6 23.77 1.17 1.37 0.004 0.2 IC97-73 19.2 20.73 1.53 0.01 0.002 0
IC96-06 23.77 24.6 0.83 1.14 0.004 0 IC97-74 1.22 2.74 1.52 0.24 0.002 1.4
IC96-06 24.6 25.45 0.85 1.78 0.004 0 IC97-74 2.74 4.27 1.53 0.24 0.001 0.6
IC96-06 25.45 26.4 0.95 5.15 0.021 0 IC97-74 4.27 5.8 1.53 0.28 0.001 0.2
IC96-06 26.4 27.13 0.73 0.4 0.007 0 IC97-74 5.8 7.32 1.52 0.19 0.001 0
IC96-08 13.41 14.94 1.53 0.42 0.006 0 IC97-74 40.84 42.37 1.53 0.02 0.003 0
IC96-08 14.94 16.92 1.98 0.39 0.036 0.02 0 IC97-75 6 7.92 1.92 0.45 0.003 0.2
IC96-08 16.92 18 1.08 1.7 0.045 0.02 0 IC97-75 7.92 9.45 1.53 0.47 0.002 0.2
IC96-08 18 19.02 1.02 2.06 0.078 0.02 0 IC97-75 9.45 11.35 1.9 0.51 0.002 0.2
IC96-08 19.02 20.3 1.28 4.99 0.073 0.02 1 IC97-75 11.35 13.26 1.91 0.39 0.002 0.2
IC96-08 20.3 21.8 1.5 2.35 0.021 0.01 0 IC97-75 13.26 14.78 1.52 0.29 0.002 0
IC96-08 21.8 22.9 1.1 1.99 0.039 0.03 0 IC97-75 14.78 16.31 1.53 0.24 0.002 0
IC96-08 22.9 24.08 1.18 1.63 0.064 0.025 0 IC97-75 16.31 18.29 1.98 0.25 0.002 0
IC96-08 24.08 25.6 1.52 2.36 0.006 0.01 0 IC97-75 18.29 19.81 1.52 0.25 0.003 0
IC96-08 25.6 26.5 0.9 2.75 0.006 0 IC97-75 19.81 21.34 1.53 0.41 0.003 0
IC96-08 26.5 27.8 1.3 0.6 0.010 0 IC97-75 21.34 22.71 1.37 0.24 0.004 0
IC96-09 20.73 24.69 3.96 0.89 0.003 0 IC97-76 10.67 12.19 1.52 0.14 0.003 0
IC96-09 24.69 25.95 1.26 1.82 0.005 0 IC97-76 12.19 13.11 0.92 0.01 0.004 0
IC96-09 25.95 27.83 1.88 0.58 0.004 0.015 0 IC97-76 13.11 14.48 1.37 0.01 0.005 0
IC96-09 27.83 28.65 0.82 0.7 0.004 0 IC97-76 14.48 15.85 1.37 0.32 0.006 0
IC96-09 28.65 29.87 1.22 0.5 0.004 0 IC97-76 15.85 17.53 1.68 0.24 0.008 0
IC96-09 29.87 30.95 1.08 0.99 0.032 0.1 1 IC97-76 17.53 18.44 0.91 0.26 0.008 0
IC96-09 30.95 32.35 1.4 1.72 0.069 0.025 1 IC97-77 1.22 2.74 1.52 0.01 0.003 0
IC96-09 32.35 33.22 0.87 0.83 0.008 0 IC97-77 2.74 4.27 1.53 0.02 0.003 0
IC96-09 33.22 34.75 1.53 1.22 0.007 0 IC97-77 4.27 5.79 1.52 0.06 0.004 0
IC96-09 34.75 36.27 1.52 1.41 0.007 0.2 IC97-77 5.79 7.32 1.53 0.48 0.010 0
IC96-09 36.27 37.79 1.52 1.52 0.008 0.015 0.4 IC97-77 7.32 8.84 1.52 1.06 0.003 0
IC96-09 37.79 39.55 1.76 1.18 0.009 0.01 0.2 IC97-77 8.84 11.89 3.05 0.00 0.000 0
IC96-09 39.55 40.84 1.29 1.64 0.102 0.07 1 IC97-77 11.89 13.41 1.52 0.05 0.001 59
IC96-09 40.84 42 1.16 1.69 0.054 0.03 0 IC97-77 13.41 14.94 1.53 0.05 0.000 53
IC96-09 42 43.5 1.5 2.18 0.065 0.04 1 IC97-77 14.94 16.46 1.52 0.00 0.000 0
IC96-09 43.5 45.42 1.92 0.71 0.004 0 IC97-77 16.46 18 1.54 0.01 0.000 60.2
IC96-09 45.42 46.94 1.52 1.05 0.009 0.025 0 IC97-77 18 19.51 1.51 0.66 0.002 0.2
IC96-09 46.94 48 1.06 1.01 0.007 0.025 1.2 IC97-77 19.51 21.34 1.83 1.16 0.004 0
IC96-09 48 49.23 1.23 1.64 0.007 0.03 1.2 IC97-77 21.34 23.01 1.67 0.54 0.005 0
IC96-09 49.23 50.9 1.67 0.91 0.007 0.025 0.4 IC97-77 23.01 24.38 1.37 0.26 0.010 0
IC96-09 50.9 53.04 2.14 0.39 0.006 0.2 IC97-77 24.38 25.91 1.53 0.19 0.009 0
IC96-12 26.06 27.43 1.37 0.35 0.011 0 IC97-79 14.78 16.31 1.53 0.11 0.003 0
IC96-13 46.72 47.4 0.68 0.43 0.007 0 IC97-79 37.19 38.91 1.72 0.19 0.006 0.2
IC96-13 47.4 48.58 1.18 3.61 0.005 0 IC97-79 38.91 40.23 1.32 0.10 0.007 0

25

DDH From To Interval Cu% Co% **Aug/t ** Ag g/t DDH From To Interval Cu% Co% **Aug/t ** Ag g/t
IC96-13 48.58 49.99 1.41 2.9 0.005 0.03 0 IC97-79 40.23 41.76 1.53 0.29 0.007 0
IC96-13 49.99 51.28 1.29 1.37 0.003 0.07 5 IC97-79 41.76 42.98 1.22 0.39 0.009 0
IC96-13 51.28 53.04 1.76 1.27 0.015 0.27 9 IC97-79 42.98 44.5 1.52 0.18 0.009 0
IC96-13 53.04 54.56 1.52 1.64 0.043 0.38 8 IC97-79 44.5 45.72 1.22 0.46 0.007 0
IC96-13 54.56 55.83 1.27 4.35 0.081 0.425 12 IC97-79 45.72 47.22 1.5 0.21 0.007 0.2
IC96-13 55.83 57.03 1.2 1.83 0.005 0.04 1 IC97-79 47.22 48.65 1.43 0.24 0.006 3.2
IC96-14 2.9 4.57 1.67 0.56 0.008 0.03 2.4 IC97-80 15.85 17.25 1.4 0.01 0.004 0
IC96-14 5.33 6.71 1.38 0.94 0.012 0.015 1.2 IC97-80 19.2 20.88 1.68 0.01 0.004 0
IC96-14 8.2 8.83 0.63 0.4 0.009 0.005 0.4 IC97-81 3.2 4.57 1.37 0.07 0.004 0.2
IC96-14 8.83 9.75 0.92 0.41 0.006 0.2 IC97-81 4.57 6.4 1.83 0.06 0.004 0
IC96-14 10.97 12.19 1.22 0.91 0.004 0 IC97-81 7.77 9.14 1.37 0.09 0.003 0.4
IC96-14 12.19 14.17 1.98 0.57 0.002 0 IC97-81 9.14 10.36 1.22 0.00 0.000 0
IC96-14 14.17 16.15 1.98 0.42 0.003 0.035 0.2 IC97-81 10.36 11.89 1.53 1.40 0.015 1.8
IC96-14 16.15 17.37 1.22 2.04 0.004 0 IC97-81 11.89 13.41 1.52 0.36 0.006 0.2
IC96-14 17.37 18.9 1.53 2.23 0.004 0 IC97-81 13.41 14.94 1.53 0.33 0.011 0.2
IC96-14 18.9 20.12 1.22 1.69 0.004 0.2 IC97-81 14.94 16.6 1.66 0.46 0.018 0.8
IC96-14 20.12 21.05 0.93 1.15 0.009 0.055 0.2 IC97-81 16.6 17.98 1.38 1.56 0.043 2
IC96-14 21.05 21.34 0.29 3.72 0.052 0.33 23.4 IC97-81 17.98 19.43 1.45 1.77 0.044 2.8
IC96-14 21.34 23.16 1.82 1.93 0.014 0.04 5 IC97-81 19.43 20.75 1.32 0.25 0.029 0.6
IC96-14 23.16 24.5 1.34 1.07 0.019 0.025 0.2 IC97-81 20.75 22 1.25 0.10 0.004 0.2
IC96-14 24.5 24.99 0.49 1.37 0.029 0.01 0 IC97-81 22 23.2 1.2 0.12 0.003 0
IC96-14 24.99 26.3 1.31 3.43 0.039 0.045 0.2 IC97-81 23.2 24.4 1.2 0.17 0.003 0
IC96-14 26.3 28.96 2.66 0.73 0.044 0.02 0.8 IC97-81 24.4 25.6 1.2 0.17 0.003 0
IC96-14 28.96 29.65 0.69 1.08 0.004 0.2 IC97-81 25.6 26.8 1.2 0.26 0.003 1.4
IC96-14 29.65 31.09 1.44 0.53 0.005 0 IC97-81 26.8 28.85 2.05 0.35 0.010 0.6
IC96-14 31.09 32.61 1.52 0.79 0.004 0.2 IC97-81 28.85 30.5 1.65 0.09 0.005 0
IC96-14 32.61 34.44 1.83 0.82 0.004 0 IC97-81 30.5 32.3 1.8 0.02 0.005 0
IC96-15 0 7.32 7.32 2.03 0.004 0.4 IC97-82 5.64 6.7 1.06 0.17 0.001 6.4
IC96-15 24.4 26.9 2.5 0.42 0.009 0.2 IC97-82 25.04 26.3 1.26 0.65 0.085 0
IC96-15 48.46 49.99 1.53 0.3 0.016 0.01 0.8 IC97-83 17.98 19.35 1.37 0.07 0.005 0
IC96-16 12.5 13.72 1.22 0.36 0.004 0 IC97-84 10.28 11.89 1.61 0.10 0.007 0
IC96-16 13.72 15.85 2.13 0.37 0.003 0 IC97-84 11.89 14.17 2.28 0.54 0.005 0
IC96-16 15.85 18.15 2.3 0.43 0.003 0 IC97-84 14.17 15.65 1.48 2.57 0.004 0
IC96-16 20.42 22.1 1.68 0.66 0.034 0.13 1.4 IC97-84 15.85 17.68 1.83 0.48 0.055 2.6
IC96-16 22.1 23.77 1.67 0.81 0.020 0.05 0.2 IC97-84 17.68 18.9 1.22 1.92 0.062 7.4
IC96-16 23.77 26.21 2.44 2.12 0.015 0.03 0.4 IC97-84 18.9 20.12 1.22 2.67 0.063 9.2
IC96-16 26.21 27.58 1.37 2.4 0.011 0.02 0.4 IC97-84 20.12 21.95 1.83 2.33 0.053 9.8
IC96-16 27.58 28.96 1.38 1.95 0.009 0 IC97-84 21.95 23.48 1.53 2.84 0.040 9.4
IC96-17 5.79 8.23 2.44 0.42 0.005 0 IC97-85 14.48 15.7 1.22 0.31 0.006 0
IC96-17 8.23 9.75 1.52 0.35 0.005 0 IC97-85 15.7 17.05 1.35 0.36 0.008 0
IC96-17 12 14.48 2.48 0.35 0.005 0 IC97-85 18.9 20.42 1.52 0.15 0.003 0
IC96-17 17.07 18.59 1.52 0.53 0.005 0 IC97-85 21.95 23.47 1.52 0.67 0.007 0
IC96-17 18.59 20.12 1.53 0.34 0.005 0 IC97-85 23.47 25.4 1.93 0.74 0.009 0
IC96-17 22 23.32 1.32 1.61 0.016 0.2 IC97-85 26.52 28.04 1.52 0.18 0.006 0
IC96-18 17.98 19.51 1.53 0.65 0.006 0.04 2.8 ID97-01 80.16 81.69 1.53 0.01 0.005 0
IC96-18 21.22 22.56 1.34 0.4 0.004 0.06 0.8 ID97-01 83.12 84.28 1.16 4.54 0.102 0.63 16
IC96-18 22.56 24.22 1.66 0.36 0.004 0.03 0.6 ID97-01 84.28 85.8 1.52 2.16 0.092 0.575 13
IC96-18 27.03 28.65 1.62 1.18 0.006 0.09 1.6 ID97-01 88.09 89.61 1.52 2.23 0.107 0.69 30
IC96-18 28.65 29.7 1.05 1.05 0.006 8E-05 1.4 ID97-01 89.61 91.09 1.48 2.11 0.082 0.67 23

26

DDH From To Interval Cu% Co% **Aug/t ** Ag g/t DDH From To Interval Cu% Co% **Aug/t ** Ag g/t
IC96-18 29.7 30.24 0.54 2.03 0.018 2E-04 4.4 ID97-01 91.09 92.66 1.57 0.02 0.004 0
IC96-18 34.75 36.27 1.52 1 0.019 0.015 1 ID97-01 95.4 96.77 1.37 0.30 0.012 1
IC96-20 10.36 13.41 3.05 0.39 0.010 0 ID97-01 141.43 143.02 1.59 0.31 0.009 0.025 1
IC96-20 13.41 15.8 2.39 0.62 0.007 0 ID97-01 143.02 144.17 1.15 0.02 0.005 0
IC96-20 15.8 17.37 1.57 0.37 0.006 0 ID97-01 144.17 145.69 1.52 0.03 0.004 0
IC96-20 17.37 19.96 2.59 0.47 0.006 0.02 0 ID97-01 145.69 147.07 1.38 0.02 0.004 0
IC96-20 19.96 21.96 2 0.46 0.006 0 ID97-02 81.05 82.5 1.45 0.01 0.004 0
IC96-20 24.08 27.13 3.05 0.58 0.004 0.03 1.6 ID97-02 83.14 83.8 0.66 0.04 0.001 0
IC96-20 27.13 30.18 3.05 0.36 0.010 0.01 0.6 ID97-02 83.8 84.73 0.93 2.91 0.048 0.395 8
IC96-20 37.5 39.32 1.82 0.34 0.005 0.2 ID97-02 88.41 89.74 1.33 0.92 0.007 1
IC96-20 48.2 49.99 1.79 0.45 0.022 0.025 1 ID97-02 119.89 121.34 1.45 0.04 0.003 0
IC96-20 49.99 51.1 1.11 0.32 0.010 0.02 0.6 ID97-02 121.34 122.83 1.49 0.83 0.021 0.025 1
IC96-21 7.92 9.75 1.83 0.43 0.003 0 ID97-02 129.67 130.75 1.08 0.20 0.014 0.04 0
IC96-23 10.97 12.95 1.98 0.37 0.004 0.025 1.4 ID97-03 94.06 95.7 1.64 2.84 0.050 0.35 8
IC96-23 12.95 14.94 1.99 0.33 0.005 0.01 0.4 ID97-03 95.7 97.14 1.44 1.68 0.092 0.505 7
IC96-25 7.62 9.75 2.13 0.33 0.009 0 ID97-04 55.71 57 1.29 0.05 0.003 0
IC96-25 9.75 11.58 1.83 0.34 0.007 0.2 ID97-04 57 57.9 0.9 0.12 0.005 0.8
IC96-25 11.58 15.24 3.66 0.35 0.006 0 ID97-04 57.9 58.85 0.95 0.04 0.003 0
IC96-25 15.24 16.78 1.54 0.38 0.010 0 ID97-04 74.68 76.18 1.5 0.05 0.004 0.8
IC96-25 18.9 21.03 4.25 0.8 0.009 0 ID97-04 76.18 77.42 1.24 0.03 0.004 0.2
IC96-26 11.28 13.4 2.12 0.32 0.006 0.04 1.8 ID97-05 99.24 100.28 1.04 0.58 0.015 0.07 2.6
IC96-27 9.75 11.58 1.83 0.38 0.004 0 ID97-05 114 115.52 1.52 0.01 0.006 0.6
IC96-27 24.84 26.82 1.98 0.38 0.007 0 ID97-05 122.53 124 1.47 0.01 0.031 0.2
IC96-27 26.82 27.85 1.03 0.79 0.047 0 ID97-05 124 125.3 1.3 0.01 0.015 1
IC96-29 13.11 15.85 2.74 0.4 0.007 0 ID97-05 216.87 218.39 1.52 0.01 0.001 0
IC96-29 19.2 20.73 1.53 0.3 0.004 0 ID97-05 220.68 221.59 0.91 0.00 0.001 0
IC96-29 20.73 21.95 1.22 0.95 0.006 0 ID97-05 221.59 222.96 1.37 0.01 0.001 0
IC96-29 23.16 24.38 1.22 0.3 0.004 0 ID97-05 223.72 224.94 1.22 0.00 0.001 0
IC96-29 24.38 25.7 1.32 1.04 0.007 0.1 1.6 ID97-05 224.94 226.31 1.37 0.01 0.001 0
IC96-29 25.7 26.97 1.27 1.99 0.044 0.57 8.4 ID97-05 226.31 227.38 1.07 0.01 0.001 0
IC96-29 26.97 28.15 1.18 0.89 0.004 0.01 0 ID97-05 227.38 228.3 0.92 0.01 0.001 0.4
IC96-29 28.15 29.41 1.26 0.46 0.007 0 ID97-05 228.3 229.21 0.91 0.01 0.001 0.2
IC96-29 32.31 33.83 1.52 0.42 0.006 0 ID97-05 232.26 233.78 1.52 0.01 0.001 0.2
IC96-30 53.77 54 0.23 1.69 0.050 0.6 11.8 ID97-07 104.59 105.46 0.87 0.11 0.003 0.6
IC96-32 30.1 30.5 0.4 0.45 0.009 0.365 3.8 ID97-09 60.96 63.71 2.75 0.01 0.001 0
IC96-34 72.1 73.5 1.4 1.23 0.083 0.24 1.5 ID97-11 93.88 94.49 0.61 2.77 0.041 0.05 1
IC96-34 73.5 74.7 1.2 4.97 0.084 0.19 4.2 ID97-11 94.49 95.25 0.76 0.09 0.004 0
IC96-34 74.7 76.1 1.4 12.4 0.140 0.48 62 ID97-11 95.25 96.01 0.76 0.08 0.004 0
IC96-34 76.1 77.42 1.32 8.71 0.133 0.65 52.4 ID97-11 109.2 110.53 1.33 0.02 0.002 0
IC96-34 77.42 78.94 1.52 5.06 0.074 0.52 31 ID97-11 110.53 111.86 1.33 0.02 0.003 0
IC96-34 78.94 80.47 1.53 9.17 0.019 0.4 49.6 ID97-11 111.86 113.39 1.53 0.03 0.003 0.2
IC96-34 80.47 81.99 1.52 3.45 0.036 0.54 21 ID97-11 113.39 114.02 0.63 2.93 0.018 0.06 8.8
IC96-34 81.99 83.52 1.53 3.84 0.069 1 38 ID97-11 114.02 115.62 1.6 0.01 0.003 0
IC96-34 83.52 85.04 1.52 3.52 0.056 0.67 27.1 ID97-11 115.62 117.13 1.51 0.15 0.004 0.4
IC96-34 85.04 86.56 1.52 3.67 0.030 0.66 21 ID97-11 117.13 118.85 1.72 0.01 0.003 0
IC96-34 86.56 88.09 1.53 4.47 0.027 0.65 20.1 ID97-11 125.91 127.63 1.72 0.04 0.005 0
IC96-34 88.09 89.61 1.52 3.03 0.025 0.67 19.4 ID97-11 127.63 128.96 1.33 0.01 0.003 0
IC96-34 89.61 91.14 1.53 3.88 0.028 0.71 23.1 ID97-11 128.96 130.45 1.49 0.01 0.003 0
IC96-34 91.14 92.66 1.52 6.06 0.060 0.88 35.6 ID97-11 130.45 132.08 1.63 0.29 0.020 3.6

27

DDH From To Interval Cu% Co% **Aug/t ** Ag g/t DDH From To Interval Cu% Co% **Aug/t ** Ag g/t
IC96-34 94.18 95.71 1.53 0.381 0.007 1.6 ID97-11 133.41 134.9 1.49 0.86 0.019 0.095 4
IC97-35 7.92 8.38 0.46 0.65 0.002 0.4 ID97-11 142.07 143.2 1.13 0.03 0.017 0.8
IC97-35 12.5 13.41 0.91 0.5 0.004 1.2 ID97-11 147.07 148.29 1.22 0.02 0.032 1
IC97-35 13.41 14.63 1.22 0.7 0.003 2.2 ID97-11 148.29 149.55 1.26 0.03 0.015 0.4
IC97-35 14.63 15.96 1.33 0.86 0.028 0 ID97-11 149.55 150.88 1.33 0.07 0.016 0.4
IC97-35 15.96 16.46 0.5 1.15 0.027 0.2 ID97-11 150.88 152.4 1.52 0.05 0.019 1
IC97-35 16.46 17.37 0.91 0.72 0.028 0.025 1 ID97-11 152.4 153.92 1.52 0.05 0.018 0.2
IC97-35 17.37 18.9 1.53 0.69 0.078 0.03 1 ID97-11 153.92 155.45 1.53 0.08 0.018 2.2
IC97-35 18.9 20.07 1.17 0.51 0.017 0.02 0 ID97-11 155.45 156.97 1.52 0.00 0.038 0.2
IC97-35 20.07 21.03 0.96 1.07 0.008 0.015 1 ID97-11 156.97 158.31 1.34 0.01 0.051 0.6
IC97-35 21.03 22.56 1.53 1.34 0.012 0 ID97-11 158.31 159.68 1.37 0.01 0.039 0.2
IC97-35 22.56 23.7 1.14 1.86 0.015 0.005 0 ID97-11 159.68 161.21 1.53 0.01 0.027 0
IC97-35 23.7 24.57 0.87 3.17 0.090 0.05 0 ID97-11 161.21 162.2 0.99 0.02 0.030 0
IC97-35 24.57 26 1.43 1.83 0.008 0.005 0 ID97-11 162.2 163.07 0.87 0.20 0.017 0.01 0.18
IC97-35 26 26.7 0.7 1.13 0.005 0.01 0 ID97-11 163.07 164.59 1.52 0.91 0.013 0.01 0.83
IC97-35 26.7 27.58 0.88 1.46 0.003 0.4 ID97-11 164.59 166.12 1.53 0.61 0.010 0.01 0.58
IC97-35 27.58 29.4 1.82 0.57 0.004 0.2 ID97-11 166.12 167.18 1.06 0.26 0.006 0.01 0.25
IC97-36 6.25 6.77 0.52 0.44 0.005 0 ID97-12 45.1 45.36 0.26 0.47 0.010 3.4
IC97-36 7.62 9.04 1.42 0.47 0.008 0 ID97-12 87.3 88.69 1.39 0.01 0.003 0
IC97-36 9.04 10.76 1.72 0.42 0.008 0 ID97-12 88.69 89.3 0.61 0.01 0.003 0.2
IC97-36 10.76 11.58 0.82 0.51 0.008 0 ID97-12 89.3 90.15 0.85 0.01 0.004 0.2
IC97-36 15.85 17.07 1.22 0.45 0.017 0 ID97-12 94.64 95.71 1.07 0.21 0.029 0.08 3
IC97-36 18.17 19.51 1.34 0.63 0.029 0.015 0.2 ID97-12 96.93 98.15 1.22 0.30 0.035 0.1 3
IC97-36 19.51 21.04 1.53 2.38 0.032 0.02 0 ID97-12 98.15 99.3 1.15 0.49 0.045 0.265 6.8
IC97-36 21.04 22.55 1.51 3.01 0.014 0.03 0.8 ID97-12 99.3 100.43 1.13 0.46 0.038 0.14 3.6
IC97-36 22.55 23.34 0.74 2.7 0.011 0 ID97-12 100.43 101.7 1.27 0.24 0.010 0.075 1.8
IC97-36 23.34 23.84 0.5 3.2 0.038 0.05 0.6 ID97-12 101.7 103.33 1.63 0.40 0.013 0.15 3.2
IC97-36 23.84 24.84 1 1.75 0.004 0 ID97-12 103.33 104.85 1.52 0.27 0.011 0.12 1
IC97-36 24.84 25.32 0.48 2.23 0.031 0.02 0.6 ID97-12 104.85 106.38 1.53 0.35 0.013 0.045 1
IC97-36 25.32 26.52 1.2 2.51 0.007 0 ID97-12 106.38 107.9 1.52 0.41 0.012 0.02 0.8
IC97-37 6.4 7.62 1.22 0.31 0.003 0 ID97-12 112.47 114 1.53 0.23 0.016 0.075 1
IC97-37 8.84 10.36 1.52 0.36 0.002 0 ID97-12 115.52 117.04 1.52 0.24 0.013 0.055 0.6
IC97-37 10.36 11.3 0.94 0.45 0.003 0.4 ID97-12 117.04 118.57 1.53 0.50 0.012 0.03 1.4
IC97-37 11.3 12.19 0.89 0.4 0.002 0.8 ID97-12 118.57 120.09 1.52 1.61 0.013 0.065 2.4
IC97-37 13.41 14.74 1.33 0.43 0.003 0 ID97-12 121.62 122.85 1.23 1.21 0.035 0.075 4.8
IC97-37 14.74 15.5 0.76 0.46 0.009 0 ID97-12 122.85 124.1 1.25 1.60 0.039 0.07 4.8
IC97-37 15.5 16.46 0.96 0.32 0.013 0 ID97-12 124.1 125.5 1.4 0.66 0.034 0.05 5.2
IC97-37 16.46 17.98 1.52 0.38 0.025 0 ID97-12 125.5 126.19 0.69 0.11 0.010 0.05 0.6
IC97-37 17.98 19.51 1.53 0.42 0.026 0 ID97-12 126.19 127.23 1.04 0.63 0.019 0.03 1.4
IC97-37 19.51 20.27 0.76 0.37 0.027 0 ID97-12 127.23 128.6 1.37 0.22 0.051 0.06 1.2
IC97-37 20.27 22.56 2.29 0.48 0.023 0 ID97-12 128.6 129.93 1.33 0.04 0.027 0.2
IC97-37 24.69 25.6 0.91 0.78 0.004 0 ID97-12 131.03 132.2 1.17 0.06 0.034 0.2
IC97-37 25.6 28.65 3.05 0.54 0.019 0 ID97-12 132.2 133.5 1.3 0.04 0.013 0.2
IC97-38 10.36 11.46 1.1 0.64 0.075 0.035 0 ID97-12 140.62 141.43 0.81 0.01 0.006 0
IC97-38 11.46 14.63 3.17 0.95 0.072 0.04 0 ID97-12 141.43 142.95 1.52 0.00 0.002 0
IC97-38 14.63 15.83 1.2 0.54 0.058 0.02 0 ID97-12 142.95 144.48 1.53 0.00 0.002 0
IC97-38 15.83 17.23 1.4 2.22 0.041 0.02 0 ID97-12 144.48 145.82 1.34 0.01 0.003 0
IC97-38 17.23 18.18 0.95 2.14 0.027 0.015 0 ID97-12 145.82 146.72 0.9 0.00 0.002 0
IC97-38 18.18 18.88 0.7 1.38 0.013 0.01 0 ID97-12 146.72 147.52 0.8 0.01 0.003 0

28

DDH From To Interval Cu% Co% **Aug/t ** Ag g/t DDH From To Interval Cu% Co% **Aug/t ** Ag g/t
IC97-38 18.88 19.94 1.06 1.3 0.014 0.03 0 ID97-12 147.52 148.44 0.92 0.01 0.002 0
IC97-38 19.94 21.03 1.09 1.05 0.031 0.03 0 ID97-12 148.44 149.35 0.91 0.01 0.003 0
IC97-38 22.56 24.23 1.67 0.34 0.057 0.02 0 ID97-13 85.92 87.34 1.42 0.01 0.003 0
IC97-38 24.23 25.9 1.67 0.52 0.035 0.025 0 ID97-13 87.34 88.62 1.28 0.01 0.004 0
IC97-38 25.9 27.13 1.23 1.65 0.014 0.4 ID97-13 88.62 89 0.38 0.21 0.019 0.6
IC97-39 3.81 5.33 1.52 0.3 0.001 2.6 ID97-13 93.72 95.15 1.43 5.44 0.154 0.56 42.2
IC97-39 5.33 6.886 1.556 0.41 0.001 1.2 ID97-13 95.15 96.29 1.14 8.43 0.131 0.58 29.4
IC97-39 6.886 7.72 0.834 0.35 0.003 0.6 ID97-13 96.29 97.23 0.94 10.20 0.168 0.39 14
IC97-39 7.72 9.75 2.03 1.89 0.008 2.2 ID97-13 97.23 98.76 1.53 7.96 0.104 0.645 21.2
IC97-39 9.75 11.11 1.36 2.32 0.008 1.6 ID97-13 98.76 99.97 1.21 7.58 0.101 0.83 25
IC97-39 11.11 11.89 0.78 1.49 0.003 0.8 ID97-13 99.97 101 1.03 7.48 0.066 0.765 20
IC97-39 11.89 13.41 1.52 1.42 0.004 0 ID97-13 101 101.8 0.8 1.85 0.022 0.27 2.2
IC97-39 13.41 14.63 1.22 0.88 0.013 0 ID97-13 101.8 103.08 1.28 1.40 0.014 0.07 1.4
IC97-39 14.63 17.07 2.44 0.42 0.020 0 ID97-13 103.08 104.12 1.04 3.15 0.035 0.04 3.4
IC97-39 18.55 21.67 3.12 0.75 0.022 0 ID97-13 105.16 106.68 1.52 1.20 0.034 1.4
IC97-40 10.36 11.28 0.92 0.39 0.004 0 ID97-13 117.04 118.57 1.53 1.60 0.033 5.8
IC97-40 13.41 14.17 0.76 0.35 0.003 0 ID97-13 120.93 122.55 1.62 0.03 0.004 0
IC97-40 14.17 15.85 1.68 0.49 0.003 0 ID97-13 122.55 123.8 1.25 0.03 0.006 0
IC97-40 15.85 17.07 1.22 3.4 0.004 0 ID97-13 123.8 124.66 0.86 0.04 0.054 0.2
IC97-40 17.07 18.59 1.52 1.55 0.004 0 ID97-13 124.66 126.19 1.53 0.03 0.036 0.2
IC97-40 18.59 19.81 1.22 1.8 0.003 0 ID97-13 126.19 127 0.81 0.11 0.025 0.2
IC97-40 19.81 20.8 0.99 2.09 0.005 0 ID97-13 127 127.71 0.71 0.01 0.004 0
IC97-40 20.8 21.56 0.76 3.64 0.005 0 ID97-13 127.71 129.24 1.53 0.03 0.023 0.2
IC97-40 21.56 22.56 1 2.05 0.005 0 ID97-13 129.24 130.76 1.52 0.35 0.015 0.2
IC97-41 6.71 8.38 1.67 0.3 0.006 0 ID97-13 139.75 141.04 1.29 0.01 0.002 0
IC97-41 12.34 13.41 1.07 0.54 0.005 0 ID97-14 104.25 105.47 1.22 0.01 0.004 0 0.2
IC97-41 13.41 14.38 0.97 0.38 0.005 0 ID97-14 105.47 107.14 1.67 0.01 0.004 0 0.4
IC97-41 14.38 14.94 0.56 0.99 0.002 0 ID97-14 107.14 108.12 0.98 0.24 0.007 0.3 13
IC97-41 14.94 16.07 1.13 6.54 0.008 0 ID97-14 108.12 108.93 0.81 0.59 0.027 0.48 22
IC97-46 19.26 21.34 2.08 4.25 0.029 0.435 3.8 ID97-16 136.23 137.87 1.64 0.03 0.003 0
IC97-46 21.34 22.56 1.22 2.45 0.052 0.305 4 ID97-16 137.87 139.3 1.43 0.01 0.003 0
IC97-46 22.56 23.47 0.91 4.51 0.072 0.22 5.4 ID97-18 84.84 86.16 1.32 0.01 0.003 0.2
IC97-46 23.47 24.38 0.91 4.74 0.072 0.17 5.2 ID97-18 86.16 86.31 0.15 2.71 0.051 2
IC97-46 24.38 25.76 1.38 2.57 0.053 0.09 2.6 ID97-18 86.31 87.33 1.02 0.22 0.003 0.4
IC97-46 25.76 26.12 0.36 5.04 0.034 0.125 4 ID97-18 140.49 141.88 1.39 0.01 0.003 0
IC97-46 26.12 27.53 1.41 0.86 0.010 0.015 0.6 ID97-18 141.88 143.26 1.38 0.02 0.003 0
IC97-46 27.53 28.42 0.89 0.58 0.003 0 ID97-18 143.26 144.73 1.47 0.01 0.003 0
IC97-46 28.42 30.43 2.01 0.72 0.004 0.2 ID97-18 144.73 146.3 1.5 0.41 0.016 6
IC97-46 30.43 32 1.57 9.94 0.051 0.17 4.4 ID97-18 146.3 147.83 1.54 0.03 0.007 1
IC97-46 32 33.53 1.53 9.17 0.066 0.235 4 ID97-18 147.83 149 1.05 0.04 0.017 2.2
IC97-46 33.53 34.75 1.22 10.9 0.031 0.235 3 ID97-18 149 150.48 1.48 0.01 0.003 0
IC97-46 34.75 35.66 0.91 6.25 0.066 0.19 2.8 ID97-18 150.48 152.04 1.56 0.14 0.009 0.6
IC97-46 35.66 36.88 1.22 0.48 0.005 0.01 0 ID97-18 152.04 153.53 1.49 0.09 0.018 0.8
IC97-46 36.88 38.4 1.52 1.29 0.003 0.015 0.8 ID97-18 153.53 154.85 1.32 0.04 0.014 0.2
IC97-46 38.4 39.93 1.53 1.49 0.004 0.01 0.2 ID97-18 154.85 156.05 1.2 0.01 0.024 0.4
IC97-46 39.93 41.3 1.37 0.97 0.007 0 ID97-18 156.05 157.42 1.37 0.01 0.012 0.2
IC97-46 41.3 42.37 1.07 1.17 0.008 0.4 ID97-18 157.42 158.85 1.43 0.01 0.012 0.2
IC97-46 42.37 43.59 1.22 0.56 0.007 0.01 0 ID97-18 158.85 160.02 1.17 0.00 0.009 0.4
IC97-46 43.59 44.35 0.76 2.12 0.010 0.02 0.8 ID97-18 160.02 161.54 1.52 0.01 0.011 0.6

29

DDH From To Interval Cu% Co% **Aug/t ** Ag g/t DDH From To Interval Cu% Co% **Aug/t ** Ag g/t
IC97-46 44.35 45.87 1.52 0.347 0.011 0 ID97-18 161.54 163.07 1.53 0.01 0.011 0.6
IC97-46 45.87 46.94 1.07 0.318 0.009 0 ID97-18 163.07 164.59 1.52 0.00 0.011 0.2
IC97-47 7.62 9.14 1.52 0.359 0.005 0 ID97-18 166.12 167.64 1.52 0.00 0.014 0.6
IC97-47 10.66 11.32 0.66 1.18 0.003 0 ID97-18 168.24 169.76 1.52 0.01 0.003 0.2
IC97-47 11.32 12.75 1.43 2.51 0.003 0 ID97-18 169.76 170.84 1.08 0.01 0.003 0.4
IC97-47 12.75 13.81 1.06 2.89 0.003 0 ID97-18 170.84 172.21 1.37 0.01 0.003 0.6
IC97-47 13.81 15.09 1.28 1.95 0.003 0 ID97-19 60.6 60.96 0.36 0.64 0.004 0.4
IC97-47 15.09 17.07 1.98 1.93 0.003 0 ID97-19 64.73 65.75 1.02 0.01 0.001 0
IC97-47 17.07 17.68 0.61 2.77 0.004 0 ID97-19 89.61 91.13 1.52 0.01 0.002 0
IC97-47 17.68 18.9 1.22 1.74 0.003 0 ID97-19 91.13 92.66 1.53 0.01 0.003 0
IC97-47 18.9 20.42 1.52 1.43 0.006 0 ID97-19 92.66 93.9 1.24 0.01 0.003 0
IC97-47 20.42 21.64 1.22 0.46 0.007 0 ID97-19 93.9 95.45 1.55 1.76 0.073 0.35 4.6
IC97-47 21.64 23.16 1.52 0.51 0.008 0 ID97-19 95.45 96.25 0.8 4.22 0.051 0.71 20.4
IC97-47 23.16 24.69 1.53 0.55 0.008 0 ID97-19 96.25 97.65 1.4 0.04 0.002 0
IC97-48 10.97 12.34 1.37 0.43 0.003 0 ID97-19 149.96 151.49 1.53 1.07 0.012 0.03 5
IC97-48 12.34 14.02 1.68 1.01 0.003 0 ID97-19 151.49 153.01 1.52 0.87 0.012 0.03 3.8
IC97-48 14.02 15.07 1.05 0.83 0.003 0 ID97-19 153.01 154.53 1.52 1.29 0.016 0.065 7.8
IC97-48 15.07 16.96 1.89 1.25 0.004 0 ID97-19 154.53 156.06 1.53 1.16 0.020 0.05 7.4
IC97-48 16.96 18.59 1.63 0.83 0.005 0 ID97-19 156.06 157.58 1.52 0.49 0.012 0.035 3
IC97-48 18.59 20 1.41 0.37 0.006 0 ID97-19 157.58 158.95 1.37 0.54 0.012 0.04 3.2
IC97-49 12.6 13.18 0.58 0.46 0.036 0.4 ID97-20 91.9 93.28 1.38 3.41 0.007 0.725 18.2
IC97-49 13.18 14.33 1.15 2.19 0.021 0.8 ID97-20 93.28 94.32 1.04 0.51 0.005 0.305 1.4
IC97-49 14.33 15.54 1.21 2.77 0.021 1 ID97-20 94.32 95.86 1.54 0.05 0.002 0
IC97-49 15.54 17.07 1.53 2.56 0.009 0.6 ID97-20 95.86 97.54 1.68 0.04 0.002 0
IC97-49 17.07 17.85 0.78 1.28 0.006 0.4 ID97-20 97.54 99.21 1.67 0.03 0.002 0
IC97-49 17.85 18.75 0.9 1.96 0.011 0.2 ID97-20 129.84 131.37 1.53 0.01 0.003 0
IC97-49 18.75 20.27 1.52 0.75 0.016 0 ID97-20 131.37 132.82 1.45 0.01 0.003 0
IC97-49 22.86 24.38 1.52 0.32 0.010 0 ID97-20 135.84 136.86 1.02 0.54 0.026 0.02 0.8
IC97-49 24.38 25.3 0.92 0.49 0.007 0 ID97-20 136.86 138.07 1.21 1.19 0.046 0.055 2.2
IC97-49 25.3 26.21 0.91 0.67 0.010 0 ID97-20 138.07 139.19 1.12 0.95 0.014 0.035 1.2
IC97-49 26.21 27.73 1.52 0.34 0.007 0.6 ID97-20 139.19 139.9 0.71 0.15 0.006 0.6
IC97-49 27.73 29.26 1.53 0.42 0.013 1.2 ID97-20 139.9 141.13 1.23 0.08 0.006 0.4
IC97-50 13.37 14.93 1.56 0.45 0.004 0 ID97-22 130.87 132.02 1.15 0.06 0.005 0 0
IC97-50 14.93 15.85 0.92 0.99 0.004 0 ID97-22 132.02 133.5 1.48 1.12 0.076 0.38 3.6
IC97-50 15.85 16.72 0.87 0.34 0.007 0 ID97-22 133.5 134.77 1.27 0.97 0.055 0.42 4.8
IC97-51 3.35 5.18 1.83 0.35 0.004 0 ID97-26 86.67 88.33 1.66 0.01 0.003 0
IC97-51 5.18 6.25 1.07 0.35 0.005 0 ID97-26 88.33 88.58 0.25 0.04 0.002 0.09 0
IC97-51 7.16 8.67 1.51 0.56 0.012 0 ID97-26 90.19 91.7 1.51 3.91 0.101 0.68 10
IC97-51 8.67 9.82 1.15 0.35 0.004 0 ID97-26 91.7 92.96 1.26 0.02 0.003 0
IC97-51 9.82 11.3 1.48 0.53 0.005 0 ID97-26 92.96 94.18 1.22 0.02 0.003 0
IC97-51 11.3 12.65 1.35 0.45 0.004 0 ID97-26 94.18 95.55 1.37 0.01 0.003 0
IC97-51 12.65 13.11 0.46 0.39 0.008 0 ID97-28 93.42 94.66 1.24 0.38 0.003 0.8
IC97-51 14.02 14.94 0.92 0.3 0.009 0 ID97-28 100.6 101.46 0.86 0.17 0.003 0.2
IC97-51 15.85 17.07 1.22 0.4 0.010 0 ID97-28 102.76 104.01 1.25 0.76 0.004 0.015 1.6
IC97-51 17.07 18.07 1 0.31 0.007 0 ID97-28 104.01 104.85 0.84 2.10 0.006 0.04 5.6
IC97-52 3.66 5.18 1.52 0.39 0.003 0 ID97-28 115.82 117.3 1.48 0.01 0.023 0.6
IC97-52 5.18 6.71 1.53 0.41 0.004 0 ID97-28 117.3 118.87 1.57 0.00 0.021 0
IC97-52 6.71 7.77 1.06 0.37 0.004 0 ID97-28 118.87 120.09 1.22 0.05 0.012 0
IC97-52 7.77 9.3 1.53 0.6 0.007 0 ID97-28 120.09 120.7 0.61 0.01 0.017 0.2

30

DDH From To Interval Cu% Co% **Aug/t ** Ag g/t DDH From To Interval Cu% Co% **Aug/t ** Ag g/t
IC97-52 9.3 10.52 1.22 0.333 0.003 0 ID97-28 120.7 122 1.3 0.00 0.014 0
IC97-52 10.52 12.04 1.52 0.3 0.003 0 ID97-28 122 123.14 1.14 0.02 0.018 0.2
IC97-52 12.04 13.41 1.37 0.45 0.005 0 ID97-28 123.14 124.36 1.22 0.01 0.017 0.2
IC97-52 13.41 14.94 1.53 0.34 0.004 0 ID97-28 124.36 125.27 0.91 0.02 0.040 0.4
IC97-52 14.94 16.15 1.21 0.58 0.003 0 ID97-28 125.27 126.24 0.97 0.04 0.023 0.4
IC97-52 16.15 17.68 1.53 0.61 0.005 0 ID97-28 126.24 127.4 1.16 0.05 0.034 1.6
IC97-52 17.68 18.29 0.61 0.68 0.005 0 ID97-28 127.4 128.47 1.07 0.26 0.006 0.11 1.4
IC97-52 18.29 19.81 1.52 0.75 0.005 0 ID97-28 128.47 129.24 0.77 0.99 0.046 0.04 2.8
IC97-52 19.81 21.2 1.39 1.27 0.009 0.8 ID97-28 129.24 130.26 1.02 2.16 0.078 0.08 7.6
IC97-52 21.2 22.65 1.45 0.97 0.004 0 ID97-28 130.26 131.15 0.89 2.27 0.088 0.065 7
IC97-52 22.65 23.7 1.05 0.84 0.005 0 ID97-28 131.15 132.28 1.13 0.56 0.025 0.025 1.4
IC97-53 2.44 3.66 1.22 0.41 0.002 1 ID97-30 28.65 29.3 0.65 0.07 0.013 0
IC97-53 5.64 7.62 1.98 0.39 0.006 0 ID97-30 29.9 30.66 0.76 4.81 0.052 0.26 13
IC97-53 10.5 12.05 1.55 0.49 0.005 0 ID97-30 33.22 34.75 1.53 3.25 0.102 0.405 7
IC97-53 15.39 17.2 1.81 0.3 0.003 0 ID97-30 37.8 38.94 1.14 1.58 0.058 0.325 5
IC97-53 17.2 19.2 2 0.35 0.004 0 ID97-30 38.94 39.65 0.71 3.16 0.081 0.475 8
IC97-53 19.2 21.03 1.83 1.74 0.005 0.2 ID97-30 39.65 41.72 2.07 1.56 0.021 0.08 1.2
IC97-53 21.03 23 1.97 1.43 0.005 0 ID97-30 41.72 42.92 1.2 0.19 0.014 0.05 0.6
IC97-55 3.65 4.57 0.92 0.44 0.008 0 ID97-31 66.14 67.36 1.22 0.01 0.003 0
IC97-55 4.57 7.03 2.46 1.83 0.007 0 ID97-31 67.36 68.88 1.52 0.01 0.003 0
IC97-55 7.03 8.07 1.04 2.36 0.006 0 ID97-31 68.88 70.41 1.53 0.02 0.003 0
IC97-55 8.07 8.83 0.76 3.49 0.010 0 ID97-31 70.41 71.93 1.52 0.03 0.003 0
IC97-55 8.83 10.05 1.22 0.53 0.014 0 ID97-31 71.93 73.46 1.53 0.04 0.003 0.2
IC97-55 10.05 11.27 1.22 0.73 0.020 0 ID97-31 73.46 74.98 1.52 0.01 0.003 0
IC97-55 11.27 12.03 0.76 0.8 0.018 0 ID97-31 74.98 76.5 1.52 0.01 0.003 0
IC97-55 12.03 13.71 1.68 0.53 0.009 0 ID97-31 76.5 78.03 1.53 0.01 0.003 0
IC97-55 13.71 14.78 1.07 0.59 0.007 0 ID97-31 78.03 79.25 1.22 0.01 0.003 0
IC97-55 14.78 16.3 1.52 0.44 0.008 0 ID97-31 79.25 80.16 0.91 0.01 0.003 0
IC97-55 16.3 17.25 0.95 0.5 0.035 0 ID97-31 80.16 81.28 1.12 0.01 0.003 0
IC97-55 20.42 21.37 0.95 1.95 0.017 0 ID97-31 85.07 86.05 0.98 0.12 0.003 0.8
IC97-55 21.37 22.24 0.87 0.46 0.030 0 ID97-31 86.05 87.17 1.12 0.01 0.003 0.6
IC97-55 22.24 23.46 1.22 0.59 0.020 1.6 ID97-31 87.17 88.85 1.68 0.02 0.004 4.4
IC97-55 23.46 23.98 0.52 0.47 0.007 0.4 ID97-31 88.85 90.37 1.52 0.01 0.003 0
IC97-56 5.79 7.76 1.97 0.31 0.004 0.6 ID97-34 133.33 134.76 1.43 0.18 0.007 0.6
IC97-56 17.98 19.51 1.53 0.37 0.002 1.4 ID97-34 142.18 143.26 1.08 0.04 0.010 0
IC97-56 21.03 22.45 1.42 0.48 0.004 0 ID97-34 144.58 145.39 0.81 0.07 0.009 0.4
IC97-56 22.45 24.08 1.63 0.32 0.004 0 ID97-34 145.39 146.61 1.22 0.01 0.010 0
IC97-56 24.08 25.6 1.52 0.36 0.003 0 ID97-34 146.61 147.68 1.07 0.01 0.009 0
IC97-56 25.6 27.13 1.53 0.34 0.003 0 ID97-34 147.68 149.05 1.37 0.08 0.011 0
IC97-56 27.13 28.65 1.52 0.31 0.003 0 ID97-34 149.05 149.96 0.91 0.02 0.010 0
IC97-56 28.65 30.15 1.5 0.38 0.003 0 ID97-34 149.96 150.78 0.82 0.12 0.009 0.2
IC97-56 34.9 36.5 1.6 0.68 0.016 0.4 ID97-34 153.3 154.23 0.93 0.01 0.003 0
IC97-56 36.5 38.45 1.95 2.81 0.013 0.2 ID97-35 2.44 3.66 1.22 0.01 0.003 0
IC97-56 38.45 40.39 1.94 0.92 0.010 0 ID97-35 3.66 4.88 1.22 0.01 0.003 0
IC97-56 49.99 51.51 1.52 0.67 0.014 0 ID97-36 76.66 78.33 1.67 0.01 0.003 0
IC97-56 51.51 53.04 1.53 0.56 0.009 0 ID97-36 78.33 79.55 1.22 0.01 0.004 0
IC97-56 53.04 54.56 1.52 0.53 0.007 0 ID97-36 79.55 80.4 0.85 0.33 0.007 0.4
IC97-56 54.56 56.08 1.52 0.42 0.008 0 ID97-36 80.4 81.22 0.82 7.24 0.165 0.42 11.4
IC97-56 56.08 57.4 1.32 0.63 0.008 0 ID97-36 81.22 82.32 1.1 8.32 0.131 0.94 26.8

31

DDH From To Interval Cu% Co% **Aug/t ** Ag g/t DDH From To Interval Cu% Co% **Aug/t ** Ag g/t
IC97-56 57.4 58.67 1.27 0.5 0.009 0 ID97-36 82.32 83.4 1.08 9.92 0.069 0.715 27
IC97-56 58.67 60.2 1.53 1.03 0.011 0 ID97-36 83.4 84.43 1.03 4.43 0.061 0.795 22.4
IC97-56 61.57 62.8 1.23 1.08 0.008 0 ID97-36 85.95 87.48 1.53 3.93 0.082 0.735 15.4
IC97-56 62.8 64.31 1.51 1.76 0.010 0 ID97-36 87.48 89 1.52 2.68 0.035 0.755 13.2
IC97-56 64.31 65.23 0.92 0.92 0.010 0 ID97-36 89 90.53 1.53 4.05 0.047 0.65 10
IC97-56 65.23 66.75 1.52 0.85 0.011 0 ID97-36 90.53 91.59 1.06 3.54 0.061 0.43 7.2
IC97-56 66.75 68.3 1.55 1.43 0.011 0 ID97-36 91.59 93.12 1.53 4.23 0.057 0.675 13.2
IC97-56 68.3 69.8 1.5 1.27 0.011 0 ID97-36 93.12 94.64 1.52 3.44 0.032 0.57 8.6
IC97-56 69.8 71.3 1.5 0.31 0.008 0 ID97-36 94.64 96.16 1.52 3.01 0.041 0.7 6.6
IC97-56 71.3 72.85 1.55 0.41 0.007 0 ID97-36 96.16 97.84 1.68 4.12 0.059 0.795 17.2
IC97-56 74.37 75.74 1.37 0.31 0.009 0 ID97-36 99.3 100.89 1.59 0.02 0.002 0
IC97-56 75.74 77.11 1.37 0.7 0.014 0 ID97-36 100.89 102.41 1.52 0.01 0.003 0
IC97-57 9.75 11.12 1.37 0.418 0.002 1.6 ID97-36 102.41 104.09 1.68 0.01 0.003 0
IC97-57 13.25 14.8 1.55 2.96 0.021 6 ID97-36 107 108.51 1.51 1.41 0.047 4.8
IC97-57 14.8 16.5 1.7 4.24 0.019 3 ID97-36 108.51 110.33 1.82 0.88 0.043 3.4
IC97-57 16.5 18.29 1.79 3.72 0.021 4 ID97-36 110.33 112.15 1.82 0.76 0.021 2.6
IC97-57 18.29 19.81 1.52 5.78 0.028 6 ID97-36 112.15 113.08 0.93 0.36 0.018 2
IC97-57 19.81 20.8 0.99 11.6 0.058 9 ID97-36 113.08 114.6 1.52 0.01 0.015 0.2
IC97-57 20.8 22.1 1.3 3.78 0.017 0 ID97-36 114.6 116.13 1.53 0.15 0.018 1
IC97-57 22.1 22.9 0.8 3.97 0.022 0 ID97-36 116.13 117.65 1.52 0.01 0.009 0.6
IC97-57 22.9 24.84 1.94 2.32 0.014 0 ID97-36 117.65 119.18 1.53 0.01 0.012 0.6
IC97-57 24.84 26.35 1.51 2.87 0.015 0 ID97-36 119.18 120.7 1.52 0.01 0.008 0
IC97-57 26.35 28.25 1.9 4.26 0.061 3 ID97-36 120.7 122.22 1.52 0.02 0.008 0.2
IC97-57 28.25 29.35 1.1 4.09 0.059 7 ID97-36 122.22 124.21 1.99 0.02 0.010 0
IC97-57 29.35 30.48 1.13 4.37 0.043 7 ID97-36 124.21 125.57 1.36 0.01 0.007 0
IC97-57 30.48 31.7 1.22 2.26 0.013 1 ID97-36 125.57 127.1 1.53 0.01 0.006 0
IC97-57 31.7 32.92 1.22 3.57 0.025 3 ID97-36 127.1 128.63 1.53 0.01 0.008 0
IC97-57 32.92 34.14 1.22 2.87 0.022 1 ID97-36 128.63 130.15 1.52 0.01 0.007 0
IC97-57 34.14 35.66 1.52 1.3 0.032 1 ID97-36 130.15 131.67 1.52 0.01 0.007 0.2
IC97-57 35.66 37.19 1.53 1 0.026 0 ID97-36 131.67 133.2 1.53 0.02 0.010 0.6
IC97-57 37.19 38.7 1.51 1.05 0.033 1 ID97-36 133.2 134.72 1.52 0.01 0.006 0
IC97-57 38.7 40.5 1.8 1.07 0.016 0 ID97-36 134.72 135.95 1.23 0.40 0.006 0.4
IC97-57 40.5 41.76 1.26 0.39 0.021 0
IC97-58 2 3.45 1.45 0.4 0.007 2
IC97-58 13.11 14.63 1.52 0.33 0.003 0.8

Table 3: ICE drilling intersections >0.3% Cu, which are 823 of the total 2595 assays in the drilling database.

32

File Number **Hole No ** Sample No From(M) **to(m) ** Interval m **Au(ppb) ** Ag (ppm) Cu(ppm ) Pb(ppm) Zn(ppm)
39551 H97-001 115551 6 6.32 0.32 20 0.8 16 130 121
39551 H97-001 115552 6.32 7 0.68 40 1.3 87 50 130
39551 H97-001 115553 7 7.84 0.84 35 1.7 2.44% 115 75
39551 H97-001 115554 7.84 8.2 0.36 80 1.7 3980 16 110
39551 H97-001 115555 8.2 8.9 0.7 33 85.3 3.65% 27 41
39551 H97-001 115556 8.9 9.5 0.6 < 5 42.5 1840 16 35
39551 H97-001 115557 9.5 11.13 1.63 33 177.0 2.98% 31 23
39551 H97-001 115558 11.13 12.5 1.37 15 12.0 1360 72 30
39551 H97-001 115559 12.5 13 0.5 < 5 9.3 545 58 22
39551 H97-001 115560 13 13.41 0.41 25 2.3 160 19 15
39551 H97-001 115561 13.41 14 0.59 3.2 94 720 21
39551 H97-001 115562 14 15.38 1.38 < 5 2.3 144 650 15
39551 H97-001 115563 15.38 17 1.62 15 1.1 299 49 30
39551 H97-001 115564 17 17.93 0.93 95 7.5 6300 82 25
39551 H97-001 115565 17.93 18.69 0.76 42 1.5 2.60% 64 15
39551 H97-001 115566 18.69 19.4 0.71 33 0.1 160 7 50
39484 H97-002 118409 6 7 1 75 0.4 38 100 220
39484 H97-002 118410 7 7.8 0.8 510 2.7 246 34 162
39484 H97-002 118411 7.8 8.35 0.55 50 23.7 0.02 68 80
39484 H97-002 118412 8.35 9.07 0.72 < 5 0.8 1780 12 98
39484 H97-002 118413 9.07 10 0.93 28 201.8 4.05% < 1 39
39484 H97-002 118414 10 11.14 1.14 12 169.3 4.15& 4 32
39484 H97-002 118415 11.14 12.51 1.37 < 5 23.1 1.15% < 1 27
39484 H97-002 118416 12.51 13.7 1.19 < 5 3.4 6700 < 1 10
39484 H97-002 118417 13.7 14.3 0.6 < 5 3.3 6500 < 1 5
39484 H97-002 118418 14.3 15.1 0.8 < 5 2.4 4.06% < 1 43
39484 H97-002 118419 15.1 16.76 1.66 6 0.8 535 < 1 20
39484 H97-002 118420 16.76 17 0.24 12 0.6 359 < 1 25
39484 H97-002 118421 17 18 1 15 2.3 0.0142 < 1 20
39484 H97-002 118422 18 18.23 0.23 < 5 6.7 1.51% < 1 15
39484 H97-002 118423 18.23 20 1.77 10 44.0 2450 14 40
39484 H97-002 118424 20 21.12 1.12 < 5 2.1 409 37 13
39484 H97-002 118425 21.12 22.61 1.49 12 2.7 475 165 25
39484 H97-002 118425A 22.61 23.06 0.45 < 5 0.2 30 <1 57

Table 4: Harley assay results by hole and depth. High copper intervals are in percent (grey). Note that both holes were drilled off the same pad at coordinate 7376651 North/ 0536330 East in UTM Zone 11 North. H97-1 was drilled with an azimuth of 016 and dip of -38 degrees to 50 m depth.

H97-2 was drilled with an azimuth of 016 and dip of -50 degrees to 32 m depth.

33

Zone A
Hole Dip Bearing Depth From To Width M %Cu Remarks
T-1 45 355 58.83 17.77 22.25 4.48 3.73
T-2 63 355 39.62 25.91 29.57 3.66 0.47 Grindingin Zone
T-3 45 355 24.38 0.00 0.00 0.00 CavingStopped
T-4 63 355 46.33 20.67 28.04 7.38 2.29
T-5 45 355 77.72 15.70 18.90 3.20 2.6
T-5 355 0.00 0.00 0.00 0.00 4.87 included
T-6 63 355 46.33 18.44 21.64 3.20 2.16
T-7 45 355 21.34 18.90 21.34 2.44 1.95
T-7 355 0.00 0.00 0.00 1.52 2.49 Included
T-8 63 355 55.78 21.64 30.33 8.69 2.56
T-8 63 355 0.00 0.00 0.00 4.72 4.3 Included
T-9 45 355 61.87 24.26 29.57 5.30 2.08
T-9 355 0.00 0.00 0.00 0.73 6.3
T-10 3 355 55.78 31.09 32.46 1.37 1.57
T-11 45 355 46.02 19.26 19.81 0.55 2.18
T-12 63 355 44.81 19.99 20.42 0.43 1.77
T-13 60 355 62.48 39.99 41.76 1.77 1
T-13 0.00 0.00 0.00 0.85 1.35
T-14 60 355 51.97 42.28 43.46 1.19 0.92
0.70 1.22
Zone B
Hole Dip Bearing Depth From To Width %Cu Remarks
T-15 45 355 46.02 34.14 36.58 2.44 3.43
T-15 0.00 0.00 0.00 0.30 18.4 Included
T-15 0.00 0.00 0.00 0.30 8.18
T-16 45 355 80.16 49.83 51.15 1.31 3.62
T-17 45 355 73.76 53.49 55.02 1.52 3.04
T-18 45 355 54.86 45.57 47.09 1.52 0.42
T-18 45 355 54.86 47.06 48.77 1.71 4.42
T-19 45 355 61.57 57.00 59.13 2.13 2.95
T-19 355 0.00 0.00 0.00 1.22 4.25 Included
T-20 45 355 64.31 52.43 54.74 2.32 1.86
T-20 45 355 0.00 0.00 0.00 0.67 4.59 Included
T-21 45 355 67.67 58.40 60.05 1.65 9.6
T-22A 45 355 63.70 55.90 58.83 2.93 4.94
T-23 45 355 65.53 60.23 61.57 1.34 0.57

Table 5: Mariner assay results. Reliable coordinates are not available for these holes from 1969.

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APPENDIX 2 - JORC Code, 2012 Edition – Table 1

Section 1 Sampling Techniques and Data

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

Criteria JORC Code explanation Commentary
Sampling Nature and quality of sampling (eg cut channels, random chips, or •HQ diamond drill core was drilled in 121 holes, with holes reduced to
techniques specific specialised industry standard measurement tools appropriate
to the minerals under investigation, such as down hole gamma
NQ deeper in the holes. Triple tube drilling was used to improve the
drilling recovery.
sondes, or handheld XRF instruments, etc). These examples should •It is not clear how drill core was split for assaying by Chemex
not be taken as limiting the broad meaning of sampling. Laboratories. It is described as having been split.
Include reference to measures taken to ensure sample representivity •Assays were typically 1.5 m assays, though thicknesses vary
and the appropriate calibration of any measurement tools or systems between approximately 1 and 2 m long.
used. •For the NWT projects Harley and Mariner the sampling techniques of
Aspects of the determination of mineralisation that are Material to the the drill core are not known.
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.
Drilling Drill type (eg core, reverse circulation, open-hole hammer, rotary air •Holes were all diamond drill holes with HQ core diameter, reducing to
techniques blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple
or standard tube, depth of diamond tails, face-sampling bit or other
NQ diameter, depending on the hole depth.
•Drill core at the Harley and Mariner projects is diamond drill core.
_type, whether core is oriented and ifso, by what method, etc). _
Drill sample
Method of recording and assessing core and chip sample recoveries
•Drill cores were recovered to surface and placed in core boxes before
recovery and results assessed.
Measures taken to maximise sample recovery and ensure
being transported to a facility for cutting, sampling and sending
samples to the Chemex laboratory in Vancouver.
representative nature of the samples. •Drill core recovery at the Harley and Mariner projects is not known.
Whether a relationship exists between sample recovery and grade
and whether sample bias may have occurred due to preferential
loss/gainof fine/coarse material.
Logging Whether core and chip samples have been geologically and •A soil sampling grid was carried out across the ICE project area, with

ABN: 19 147 948 883 Level 6, 22 Pitt Street Sydney NSW 2000

ASX:BMO www.bastionminerals.com

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Criteria JORC Code explanation Commentary
geotechnically logged to a level of detail to support appropriate samples spaced every 25 m NW to SE, collected on lines with a
Mineral Resource estimation, mining studies and metallurgical general spacing of 50 m in the central deposit area, with samples on
studies. contour lines outside this area taken approximately every 50 m.
Whether logging is qualitative or quantitative in nature. Core (or •The details of the soil sampling were not documented in available
costean, channel, etc) photography. reports. However, they are believed to be conventional sieved soil
The total length and percentage of the relevant intersections logged. samples.
•Longhand descriptive logs of drill holes were prepared during the
drilling process and units and mineralisation summarised into codes
and relative abundances as part of the geological logging.
•Logging of the Harley and Mariner project core was as long hand
paper logs
Sub- If core, whether cut or sawn and whether quarter, half or all core •Core was sub-sampled for assay. It is not certain whether core was
sampling
techniques
and sample
preparation

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.
cut using a diamond saw or split.
•Details of the sample preparation are not certain, due to the historical
nature of the activities.
•Drill hole orientations appear to have intersected mineralisation at a
high angle, resulting in thicknesses that are close to true thicknesses
Quality control procedures adopted for all sub-sampling stages to of mineralisation.
maximise representivity of samples. •Quality control procedures are unknown, regarding the use of
Measures taken to ensure that the sampling is representative of the in
duplicate and standard or blank samples.
situ material collected, including for instance results for field •Given that the descriptions of core recovery generally appear to be
duplicate/second-half sampling. acceptable it is likely that sufficient sample was submitted for analysis
Whether sample sizes are appropriate to the grain size of the material
to produce repeatable results.
being sampled. •Any sub-sampling of drill core at the Harley and Mariner projects is
unknown.
Quality of The nature, quality and appropriateness of the assaying and •ICE Samples were crushed, pulverised to -50 mesh using a chrome
assay data
and
laboratory
tests
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

steel ring mill and then digested with nitric-aqua regia, before being
analysed for 32 elements using ICP equipment. This provided total
digestion for Cu, Ag and Zn, but only partial digestion for some 14 of
the elements analysed. Most of the primary massive sulphide
samples were fire assayed for gold and results were reported in ppb
derivation, etc. from a 30 gram sample.
Nature of quality control procedures adopted (eg standards, blanks, •Petrology was carried out by Vancouver Petrographics, who verified
duplicates, external laboratory checks) and whether acceptable levels
the mineral modes and textures on four core samples. Whole rock
of accuracy (ie lack of bias) and precision have been established. analyses were conducted on selected analyses.
•The assay results are considered appropriate, given the available
information. However, given their historical nature not all the details of
sampling and assaying are available.

36

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Criteria JORC Code explanation Commentary
•Given the historical nature of the analyses it is likely that there were
no QA/QC samples included with the primary samples.
•The quality of the assaying of drill core from the Harley and Mariner
projects is unknown.
Verification The verification of significant intersections by either independent or •The original ICE resource estimate and supporting information was
of sampling
and
assaying

alternative company personnel.
The use of twinned holes.
Documentation of primary data, data entry procedures, data
verification, data storage (physical and electronic) protocols.
reviewed by independent consultants Derry, Michener, Booth & Wahl
(1998) following the resource estimate.
•Bastion has conducted a check estimate with the assay results and
an Inverse Distance Squared methodology to check that the resource
Discuss any adjustment to assay data. is comparable to the documented historical and foreign non-JORC
resource.
•The quality of the assaying of drill core from the Harley and Mariner
projects is unknown.
Location of Accuracy and quality of surveys used to locate drill holes (collar and •Drill collars were located on the local grid and located with chain
data points down-hole surveys), trenches, mine workings and other locations
used in Mineral Resource estimation.
measurements. The location of the holes was surveyed with a Nikon
DTM-A20 total station. They were subsequently converted to the
Specification of the grid system used. UTM9N NAD27 coordinate system.
Quality and adequacy of topographic control. •The project historically used a local grid, with a NE trending baseline
and NW trending grid lines for drilling and geophysics.
•Topographic contours are available for the project, based on original
surveying.
•The coordinates for the Harley and Mariner projects is UTM zone 11.
However, the coordinates are poorly controlled and the Mariner
project as on a local grid and before the use of GPS.
Data Data spacing for reporting of Exploration Results. •Soil sampling and the drilling data spacing is appropriate for the style
spacing
and
distribution
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.
of mineral deposit explored and to confirm geological and grade
continuity.
•Data distribution is limited in the Harley and Mariner projects.
• _Whether sample compositing has been applied. _
Orientation Whether the orientation of sampling achieves unbiased sampling of •The orientation is considered to be appropriate for the ICE deposit,
of data in possible structures and the extent to which this is known, considering with drilling intended to and generally close to perpendicular to the
relation to the deposit type.
If the relationship between the drilling orientation and the orientation
deposit orientation.
•In the Harley and Mariner projects the orientation of drilling is
of key mineralised structures is considered to have introduced a believed to be perpendicular to the trend of mineralisation.
sampling bias, this should be assessed and reported if material.

37

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Criteria JORC Code explanation Commentary
geological
structure
Sample The measures taken to ensure sample security. •It is unknown the details of how samples were sent to the assay
security laboratories on all three projects.
Audits or The results of any audits or reviews of sampling techniques and data.
•A review and audit of the ICE project data and resource estimate was
reviews undertaken by an independent consultant Thompson (1998), upon
completion of the original resource estimate. Bastion has conducted a
check estimate, based on the available assay data and geology,
which validates the contained metal of the original estimate.
•Very limited information is available regarding the Harley and Mariner
projects.

Section 2 Reporting of Exploration Results

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

Criteria JORC Code explanation Commentary
Mineral Type, reference name/number, location and ownership including •The ICE project consists of 260 hard rock quartz claims covering an
tenement agreements or material issues with third parties such as joint area of ~5,330 ha
and land
tenure
status
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
•The properties were originally staked in 1993 by Yukon Zinc
Corporation, the 100% property owner.
•The project is within an area of First Nations land rights.
The Harley project consists of ~30,950 ha and the Mariner project
known impediments to obtaining a licence to operate in the area. 15,500 ha.
Exploration
Acknowledgment and appraisal of exploration by other parties.
•Previous work at ICE was conducted by Yukon Zinc Corporation from
done by
other
parties
soil samples, mapping, geophysics, drilling and resource estimation,
before the owner concentrated on their priority of developing the
Wolverine zinc project.
•Previous work at Harley and Mariner was conducted by other
companies.
Geology Deposit type, geological setting and style of mineralisation. •The ICE project is a Cyprus-style volcanic massive sulphide (VHMS)
deposit.
•The Harley project is most likely a strataform copper project.
•TheMarinerprojectis potentially an IOCG project, thoughboththese

38

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Criteria JORC Code explanation Commentary
projects have potential for VMS and strataform copper mineralisation.
Drill hole A summary of all information material to the understanding of the •Drillhole coordinates are provided in Table 2 of this report.
Information exploration results including a tabulation of the following information Coordinates are in UTM9N, with the NAD27 data, converted from the
for all Material drill holes: local grid.
o easting and northing of the drill hole collar •Holes were surveyed downhole with a Pajari borehole instrument and
o elevation or RL (Reduced Level – elevation above sea level in were noted to have only minor deviation, with almost all holes < 200
metres) of the drill hole collar m deep.
o dip and azimuth of the hole •Elevations are shown in Table 2.
o down hole length and interception depth •Holes are predominantly drilled at -50 degrees to 300 degrees,
o hole length. although some holes are drilled vertically and several are drilled
If the exclusion of this information is justified on the basis that the towards the SE.
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.
•The deepest hole is 271 m and the average depth is 88.6 m.
•At Harley 2 holes were drilled at 016 degrees and -38 and -50
degrees respectively to depths of 50 and 32 m respectively.
•At Mariner 27 holes were drilled to a maximum depth of 80 m, with
azimuths/bearings typically of 355 degrees, with dips of 45 to 63
degrees.
Data In reporting Exploration Results, weighting averaging techniques, •In the ICE project historical estimate drill assays were not cut or
aggregatio
n methods
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
capped.
•The details of the original resource estimate were documented in
reasonable detail. Mineralised intersections in the individual resource
results and longer lengths of low grade results, the procedure used cells were weighted based on copper grade and length of
for such aggregation should be stated and some typical examples of intersection. A maximum of 3 m of internal waste was included in the
such aggregations should be shown in detail. resource intervals.
The assumptions used for any reporting of metal equivalent values •The original resource estimate was calculated for copper only.
should be clearly stated. •No data aggregation is known to have occurred at Harley or Mariner.
Relationshi These relationships are particularly important in the reporting of •Drill holes at ICE were oriented to cut the mineralised zone as close
p between
mineralisati
on widths
and
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
to perpendicular as possible.
•The mineralisation dips in a consistent direction and was drilled
accordingly.
•Mineralised intersects represent close to true thickness, given the
drilling orientation relative to the mineralisation.
intercept width not known’). •Drill holes at Harley and Mariner are believed to be perpendicular to
lengths the mineralised trend and drilled at different angles.
Diagrams Appropriate maps and sections (with scales) and tabulations of •Maps and tables are shown in the body of report
intercepts should be included for any significant discovery being

39

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Criteria JORC Code explanation Commentary
reported These should include, but not be limited to a plan view of
_drill hole collar locations and appropriate sectional views. _
Balanced Where comprehensive reporting of all Exploration Results is not •Assay results from drilling samples, are provided (Tables 3, 4 and 5).
reporting practicable, representative reporting of both low and high grades
and/or widths should be practiced to avoid misleading reporting of
Graphics are provided in the announcement showing relevant
information.
Exploration Results. •In the opinion of the CP the Information provided gives a balanced
view of the projects and their potential.
Other Other exploration data, if meaningful and material, should be reported
•Airborne magnetic geological survey data was obtained over the ICE
substantive
including (but not limited to): geological observations; geophysical
project, as was helicopter EM, which detected the deposit and
exploration
data
survey results; geochemical survey results; bulk samples – size and
method of treatment; metallurgical test results; bulk density,
groundwater, geotechnical and rock characteristics; potential
possible extensions, which have yet to be drilled.
•The magnetic and EM survey data was acquired in 1997 by DIGHEM
of Ontario, Canada. The survey covered 1320 line kilometres.
deleterious or contaminating substances. •Magnetics used a Scintrex MP-3 proton precession and Scintrex
MEP-710 caesium vapour magnetometers.
•The EM system used was a frequency domain system, with maps
produced for 900 and 7200 Hz coplanar data.
•The survey lines were flown with an approximate 200 m spacing.
•QA/QC was conducted by an independent geophysicist, who
subsequently conducted a full review of the data.
•The ground geophysical survey (HLEM survey) was done on three
frequencies with 100 m coil separation which theoretically could
detect conductors up to 50 m below surface. The lower frequencies
outlined two weak to moderate conductors, the strongest of which
started at local grid Line 10950N, through the area of surface
mineralization continuing north to Line 1 1800N. The core of this
conductor is directly above the massive sulphide mineralization in
Holes IC 96-02 and -13 (Table 3).
•Specific gravity data was collected on 273 samples from ICE by
Chemex laboratories in Vancouver.
Further The nature and scale of planned further work (eg tests for lateral •Full compilation of available data has been undertaken, including
work extensions or depth extensions or large-scale step-out drilling). magnetic and Electromagnetic data, geological mapping, soil
Diagrams clearly highlighting the areas of possible extensions, sampling and drilling information.
including the main geological interpretations and future drilling areas, •Very little information is available for the Harley and Mariner projects
provided this information is not commercially sensitive. and comprehensive datasets need to be compiled.

40

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Section 3 Estimation and Reporting of Mineral Resources

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

Criteria JORC Code explanation Commentary
Database Measures taken to ensure that data has not been corrupted by, for •Data for the ICE project was imported and compiled from excel
integrity example, transcription or keying errors, between its initial collection
and its use for Mineral Resource estimation purposes.
spreadsheets available for individual holes.
• Data was plotted to check the spatial location and relationship to drill
Data validation procedures used. hole locations on historical maps, with locations coinciding with drill
pad locations when overlaid.
• No resources have been estimated at the Harley or Mariner projects.
Site visits Comment on any site visits undertaken by the Competent Person and
•The JORC Competent Person has not visited the ICE project, as the
the outcome of those visits. project is being acquired from administrators and the site access road
If no site visits have been undertaken indicate why this is the case. is not currently in sufficient condition to allow access to the project
site where the historical work was undertaken.
Geological Confidence in (or conversely, the uncertainty of) the geological •The project is a Cyprus-style volcanic massive sulphide (VHMS)
interpretati
on
interpretation of the mineral deposit.
Nature of the data used and of any assumptions made.
The effect, if any, of alternative interpretations on Mineral Resource
deposit, a well-known deposit type in a belt know for hosting for this
style of mineralisation.
•Because the information is historical and the level of documentation
estimation. regarding information collection is not exhaustive the assumptions
The use of geology in guiding and controlling Mineral Resource made are that the survey, assay and geological data were fit for the
estimation. purpose of the original historical foreign resource estimation.
The factors affecting continuity both of grade and geology. •An alternative interpretation of the geology, and hence mineral
resource, would have a limited impact on the final estimate number,
as interpretation is fairly tightly constrained by the geology.
•Geology is used in guiding the stratabound resource estimate.
•Continuity in grade depends on the location within the deposit and
whether there is feeder zone stockwork mineralisation present in
addition to massive sulphides.
•Continuity in the geology depends on the original sub sea floor
architecture.
Dimensions The extent and variability of the Mineral Resource expressed as •The deposit has been drilled out covering an area of approximately
length (along strike or otherwise), plan width, and depth below 600 by 400 m. The deposit varies in thickness, up to approximately
surface to the upper and lower limits of the Mineral Resource 15 m in thickness in the thickest part.
•The mineralisation thins towards the edges of the Ice deposit.
•Mineralisation outcrops in the northwest corner of the deposit, dipping
away to the southeast.
•Elevations are shown in Table 2.

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Criteria JORC Code explanation Commentary
Estimation The nature and appropriateness of the estimation technique(s) •The historical modelling consisted of a sectional model prepared in
and applied and key assumptions, including treatment of extreme grade Mapinfo Discover, with 50 m spaced sections and an inverse distance
modelling
techniques
values, domaining, interpolation parameters and maximum distance
of extrapolation from data points. If a computer assisted estimation
method was chosen include a description of computer software and
estimation methodology, with the 75 by 25 m search ellipse aligned
with long axis to 120 degrees.
•No grade capping or cutting is known to have occurred. The deposit
parameters used. was modelled with hard boundaries for the sulphide lens constraining
The availability of check estimates, previous estimates and/or mine the estimation.
production records and whether the Mineral Resource estimate takes •Cells were defined on each profile and the intersection width, assay
appropriate account of such data. results and SG determined for that cell, calculating the result from
The assumptions made regarding recovery of by-products. weighted data from individual samples to reflect the length of samples
Estimation of deleterious elements or other non-grade variables of relative to the total length of the cell. The size and tonnage of each
economic significance (e.g. sulphur for acid mine drainage resource cell was determined, with cells extending half way in
characterisation). distance to the next section line.
In the case of block model interpolation, the block size in relation to •The cross sectional area of each cell and the volume were calculated
the average sample spacing and the search employed. by multiplying by 50 m, for the thickness of the section.
Any assumptions behind modelling of selective mining units. •Bastion conducted a check estimate with the available geology, assay
Any assumptions about correlation between variables. and survey information, confirming the size and grade of the historical
Description of how the geological interpretation was used to control foreign resource, which was classified as Indicated..
the Resource estimates. •The original resource estimate was calculated for copper only. Gold,
Discussion of basis for using or not using grade cutting or capping. silver and cobalt would provide additional economic value for the
The process of validation, the checking process used, the comparison
of model data to drill hole data, and use of reconciliation data if

resource, but were not included, as assays were not available for gold
for all of the holes.
available. •The historical resource used a 1 x 1 x 1 m block size.
•Geological interpretation of the sulphide lens and underlying
stockwork zone constrained the resource estimate, with the resource
polygons tightly tied to the drill holes laterally and vertically.
Moisture Whether the tonnages are estimated on a dry basis or with natural •It is unknown whether the tonnage was estimated on a dry basis or
moisture, and the method of determination of the moisture content. with natural moisture. Considering the environment it is considered
most likely the estimate was on a natural moisture basis.
Cut-off The basis of the adopted cut-off grade(s) or quality parameters •The author of the historical resource report (Becker, 1998) describes
parameters applied. the use of a cut-off grade of 0.5% Cu applied for primary copper and
0.3% for secondary copper was applied to the historical foreign
resource, as by-product credits (such as gold) were not included at
the time of the historical estimate. These cut-offs were not based on
any metallurgical data.
•During the estimation intervals were classified as oxide or primary, for
the application of the relevant cut-off used in the resource.

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Criteria JORC Code explanation Commentary
Mining Assumptions made regarding possible mining methods, minimum •The deposit was considered to be principally amendable to open pit
factors or mining dimensions and internal (or, if applicable, external) mining mining, with an initial pit shell designed that would have left a minor
assumption
s
dilution. It is always necessary as part of the process of determining
reasonable prospects for eventual economic extraction to consider
potential mining methods, but the assumptions made regarding
part of the resource for underground exploitation.
•Given the outcrop of part of the deposit it is considered that open pit
mining would be appropriate for extraction. Consideration of current
mining methods and parameters when estimating Mineral Resources economics would be required to assess the basis of extraction with
may not always be rigorous. Where this is the case, this should be current commodity prices.
reported with an explanation of the basis of the mining assumptions •The maximum slope for the conceptual pit design was 50 degrees on
made. the eastern side and 45 degrees on the other three sides.
•The maximum stripping ratio for the historical pit outline was
considered to be 10:1 for the massive sulphide mineralisation.
•Some of the oxide material was reportedly not included in the
resource, as it was not sampled with diamond core during the drilling.
Metallurgic The basis for assumptions or predictions regarding metallurgical •No significant metallurgy has been conducted on the deposit, which
al factors or
amenability. It is always necessary as part of the process of
consists primarily of chalcopyrite, with pyrite and minor bornite locally.
assumption
s
determining reasonable prospects for eventual economic extraction to
consider potential metallurgical methods, but the assumptions
regarding metallurgical treatment processes and parameters made

There is gold associated with the massive sulphides, minor cobalt
and silver and only traces of zinc.
when reporting Mineral Resources may not always be rigorous.
Where this is the case, this should be reported with an explanation of
_the basis of the metallurgical assumptions made. _
Environme Assumptions made regarding possible waste and process residue •Waste disposal could potentially be in pit, or in an appropriate tailings
ntal factors disposal options. It is always necessary as part of the process of facility. With pyrite in the upper part of the deposit there is some acid
or
assumption
determining reasonable prospects for eventual economic extraction to
consider the potential environmental impacts of the mining and
processing operation. While at this stage the determination of

generating potential, which can be mitigated by disposal of tailings
below the water level.
s potential environmental impacts, particularly for a greenfields project,
may not always be well advanced, the status of early consideration of
these potential environmental impacts should be reported. Where
these aspects have not been considered this should be reported with
_an explanation of the environmental assumptions made. _
Bulk Whether assumed or determined. If assumed, the basis for the •The specific gravity for the massive sulphide mineralisation was
density assumptions. If determined, the method used, whether wet or dry, the
frequency of the measurements, the nature, size and

assumed at 4 g/cc, based on some measurements made during the
original exploration program. 273 measurements of specific gravity
representativeness of the samples. were made during the original program on a variety of rock types.
The bulk density for bulk material must have been measured by •Detailed measurements should be made on future drill core.
methods that adequately account for void spaces (vugs, porosity,
etc), moisture and differences between rock and alteration zones
within the deposit.

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Criteria JORC Code explanation Commentary
Discuss assumptions for bulk density estimates used in the
_evaluation process of the different materials. _
Classificati The basis for the classification of the Mineral Resources into varying •The historical, foreign resource was classified as Indicated.
on confidence categories.
Whether appropriate account has been taken of all relevant factors
(i.e. relative confidence in tonnage/grade estimations, reliability of
input data, confidence in continuity of geology and metal values,
quality, quantity and distribution of the data).
Whether the result appropriately reflects the Competent Person’s
view of the deposit
Audits or The results of any audits or reviews of Mineral Resource estimates •An audit of the original sectional invers distance squared (ID2)
reviews resource was carried out by the consulting company Derry, Michener,
Booth & Wahl Consultants Ltd by I.S. Thompson in a report dated
November 19 1998. The report (Thompson, 1998) agreed with the
estimation methodology and results.
•Bastion has conducted a check estimate of the deposit, using the
available survey, geological, assay and bulk density data, resulting in
a similar estimate to the historical foreign non JORC resource.
Discussion Where appropriate a statement of the relative accuracy and •Based on the available information (which does not include QA/QC
of relative confidence level in the Mineral Resource estimate using an approach sampling, such as standards and duplicates) and the check estimate
accuracy/
confidence
or procedure deemed appropriate by the Competent Person. For
example, the application of statistical or geostatistical procedures to
quantify the relative accuracy of the Resource within stated
conducted by Bastion, using the available data, the estimate appears
to be of reasonable. This is based on the geological interpretation that
the mineralised zone has not been significantly offset by faults. Using
confidence limits, or, if such an approach is not deemed appropriate, a less constrained estimation method results in a lower grade
a qualitative discussion of the factors that could affect the relative estimation, with higher influence from thinner, lower grade
accuracy and confidence of the estimate. intersections on the margins of the deposit.
The statement should specify whether it relates to global or local •However, it must be noted that the drill core has not been sighted by
estimates, and, if local, state the relevant tonnages, which should be the CP and the geological interpretation and assay results rely on the
relevant to technical and economic evaluation. Documentation should
original data, which has not been verified. Consequently, the result is
include assumptions made and the procedures used. not consistent with the JORC code and cannot be relied upon.
These statements of relative accuracy and confidence of the estimate
•In order to validate the historical resource, the core – if available and
should be compared with production data, where available. in appropriate condition – will be re-assayed in a selection of holes
and gold assays will be completed to allow estimation throughout the
deposit. If core is not available then initial work would include the
twinning of a selection of the original holes, to confirm the assay
results and the geological interpretation. New measurements of
specific gravity would be made to check the original results. Location
and surveying of drill holes will also be completed, along with an
assessment of whether downhole EM tools can be run in the

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Criteria JORC Code explanation Commentary
historical holes. Based on whether this is feasible a decision will be
made regarding completing high powered ground or airborne EM
surveys.
•Verification/validation of the original drilling is planned for the first six
months following completion of the transaction, to be followed by
exploration for additional mineralisation.
•The competent person Murray Brooker notes the information in this
market announcement provided under rules ASX rules 5.12.2 to
5.12.7 is an accurate representation of the available data and studies
for the material mining project. This statement include information
referred to in rule 5.22(b) and (c).

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