ZEUS RESOURCES LIMITED — Interim / Quarterly Report 2014

Oct 28, 2014

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QUARTERLY ACTIVITIES REPORT

For the period ending 30 September 2014

The Board of Zeus Resources Limited is pleased to release its Quarterly Activities Report covering the period ending 30 September 2014.

Highlights

• Drilling program of 12 holes implemented in Narnoo project with total depth of 1,322 meters. A total of 123 samples were submitted for assay with 15% of samples returning assay values >50ppm U3O8. Drill hole NAR003 intersected a 7m thick interval from 112m of low-grade mineralisation (av. 113.8ppm) including 1m @ 248.2ppm U3O8 (0.025% U3O8) from 113m.

• Will start the first round drilling programme of 23 holes in Wiluna project if the Company can come to an agreement with the local indigenous peoples.

Corporate and Financial

• FY14 Annual Audit finalized by William Buck. Report lodged to ASX on September 28th.

• Drilling cost with budget.

• Quarterly administrative expenditure within the budget.

• Budget for financial year 2014-2015 compiled and approved by board.

• Studying and researching several exploration and mining projects

Tenement Status

No changes to Zeus' granted tenement holding (Figure 1) during the reporting period. Current tenement details are listed in Table 1.

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Figure 1 – Zeus Resources – Summary Tenement Location Map.

Region	Project	Sub-Project	Tenement	Status	Holder	Operator	Comments
Wiluna	Lake Way	Kukububba Palaeochannel	E 53/1601	Granted	Zeus Resources Ltd	Zeus Resources Ltd
			E 53/1602	Granted	Zeus Resources Ltd	Zeus Resources Ltd
			E 53/1603	Granted	Zeus Resources Ltd	Zeus Resources Ltd
		Lake Gregory Palaeochannel	E 53/1604	Granted	Zeus Resources Ltd	Zeus Resources Ltd
			E 53/1600	Granted	Zeus Resources Ltd	Zeus Resources Ltd
	Hinkler Well	Hinkler Well	E 53/1247	Granted	Sammy Resources Pty Ltd	Zeus Resources Ltd	Transfer to 100% Zeus in progress.
	Yeelirrie South	Yeelirrie South	E 36/733	Granted	Sammy Resources Pty Ltd	Zeus Resources Ltd	Transfer to 100% Zeus in progress.
			E 36/735	Granted	Sammy Resources Pty Ltd	Zeus Resources Ltd	Transfer to 100% Zeus in progress.
Narnoo	Narnoo	Narnoo North	E 39/1401	Granted	Zeus Resources Ltd	Zeus Resources Ltd
			E 39/1683	Granted	Zeus Resources Ltd	Zeus Resources Ltd
			E 39/1687	Granted	Zeus Resources Ltd	Zeus Resources Ltd
			E 39/1689	Granted	Zeus Resources Ltd	Zeus Resources Ltd
		Narnoo South	E 28/2096	Granted	Zeus Resources Ltd	Zeus Resources Ltd
			E 28/2097	Granted	Zeus Resources Ltd	Zeus Resources Ltd
Gascoyne	Mortimer Hills	-	E 09/1618	Granted	FEC II PTY LTD	Zeus Resources Ltd	Transfer to 100% Zeus in progress.
	Red Rock	-	E 52/2122	Granted	FEC II PTY LTD	Zeus Resources Ltd	Transfer to 100% Zeus in progress.
North Musgrave	North Musgrave	-	E 69/2362	Granted	Sammy Resources Pty Ltd	Zeus Resources Ltd	Transfer to 100% Zeus in progress.
			Table 1 - Zeus Resources Tenement Details.

Exploration Program

Exploration efforts during the Quarter have focussed primarily on aircore drilling on the Narnoo Project with work on the Wiluna Project to commence in the coming quarter.

Narnoo Project

During the Quarter Zeus conducted an initial scout drilling campaign to evaluate the effectiveness of geophysical (ground gravity & airborne EM) survey results prior to conducting further drilling.

A total of twelve aircore drillholes were completed for a total of 1,322m, targeting sandstone-hosted peneconcordant uranium mineralisation developed at the base of the Tertiary palaeochannels, similar in style to the Princess Uranium Deposit.

Eight drillholes were completed on E39/1683, three drillholes on E39/1401 and one drillhole on E39/1687. No drilling was undertaken on E39/1689. Maximum and minimum hole depths were 147m (NAR005) and 47m (NAR013) respectively with an average hole depth of 102m. Drillhole locations are shown in Figure 2 with drillhole details summarised in Table 2.

Drillholes were sited to target interpreted gravity lows and conductive zones interpreted to contain palaeochannel sediments (Figure 2). Eleven drillholes directly targeted Tertiary palaeochannel sediments within structurally controlled grabens developed to the west of the Cundeelee Fault, whilst one drillhole (NAR006) was drilled east of the Cundeelee Fault in order to investigate anomalism within sandstones of interpreted Cretaceous age reported from an historical drillhole.

Drillhole	Tenemen t	GDA94_ E	GDA94_N	Zone	Dip	Azi	RL	Hole **Type **	EOH	Depth to Basement	Basement Strat	Anomalous Gamma	Comments
NAR001	E39/1683	595,541	6,704,311	51	-90	0	375.9	Aircore	102	95	Permian	85.7-96.5m
NAR002	E39/1683	595,002	6,704,534	51	-90	0	389.1	Aircore	115	110	Permian	94.0-110.0m	Organic-rich clayhorizon 102-105m
NAR003	E39/1683	593,986	6,704,945	51	-90	0	399.9	Aircore	126	119	Permian	113-120.0m
NAR004	E39/1683	589,992	6,706,566	51	-90	0	411.7	Aircore	42	-	NA	NA	Hole collapsed at 42m. Redrilled as NAR004A.
NAR004A	E39/1683	589,996	6,706,567	51	-90	0	411.7	Aircore	126	116	Permian	114-116.5m	Organic-rich clayhorizon 78-82m
NAR005	E39/1687	586,002	6,708,254	51	-90	0	424.9	Aircore	147	133	Permian	131.5-133.5m
NAR006	E39/1683	605,082	6,715,867	51	-90	0	379.6	Aircore	135	124	Proterozoic?	54.0-64.0m, 98.6-102.0m	Drilled atop basement high to investigate historical intersection. Organic-rich clays 59-62m
NAR007	E39/1401	593,037	6,723,472	51	-90	0	403.5	Aircore	120	98	Permian	Nil	Oxdised basal gravelly sands and pebbly gravels 94-98m. Prospective RedOx front has moved through location.
NAR008	E39/1401	590,127	6,718,996	51	-90	0	386.0	Aircore	99	88	Permian	Nil	Oxdised basal gravelly sands and pebbly gravels 84-88m. Prospective RedOx front has moved through location.
NAR009	E39/1401	595,018	6,716,232	51	-90	0	404.5	Aircore	115	106	Permian	Nil
NAR010	E39/1683	587,603	6,701,034	51	-90	0	363.2	Aircore	90	67.5	Permian	Nil
NAR011	E39/1683	588,871	6,698,010	51	-90	0	330.8	Aircore	57	36	Permian	Nil	Oxdised basal gravelly sands and pebbly gravels 34-36m. Prospective RedOx front has moved through location.
NAR012	E39/1683	588,919	6,693,001	51	-90	0	319.4	Aircore	48	38	Permian	Nil	Reduced clays 30-33m capping reduced, pyritic gravelly to pebbly sandstones and conglomerates 33- 38m.
						Total metres			1,322
Table 2 - Narnoo Project Drillhole Details.

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Figure 2 - Narnoo North drilling superimposed over ground gravity and HeliTEM survey data.

Results

All twelve drillholes intersected Tertiary palaeochannel sediments. Six of the twelve drillholes intersected anomalous gamma within Tertiary sediments, generally within basal Tertiary sandstones overlying well-developed Permian claystones.

A total of 123 samples were submitted for assay with 15% of samples returning assay values >50ppm U3O8. Significant intervals are detailed in Table 3. Drillhole NAR003 intersected a 7m thick interval from 112m of low-grade mineralisation (av. 113.8ppm) including 1m @ 248.2ppm U3O8 (0.025% U3O8) from 113m.

Hole_ID	From	To	Thickness	Av. U3O8 **ppm **	Av. U3O8 %	Lithology
NAR003	112	119	7	113.8	0.011	Carbonaceous clayey to cleanpyritic sands.
inc.	113	114	1	248.2	0.025	Carbonaceous clayey sands containing pyritic clay clasts.
inc.	116	118	2	127.7	0.013	Carbonaceous clayey sands containing pyritic clay clasts.
NAR006	59	62	3	82.3	0.008	Carbonaceous clayey silts with weak disseminatedpyrite. Weak oxidation overprint.
inc.	61	62	1	194.8	0.019	Carbonaceous silty clays. Weak oxidation overprint.
Table 3. Significant intervals.

Drilling results to date have:

1. Confirmed the presence of significant Tertiary palaeochannels as indicated by geophysical surveying.

2. Confirmed the presence of coarse pebbly sandstones within the basal palaeochannels with the potential to be suitable to In Situ Recovery techniques.

3. Confirmed that reduced and pyritic (and/or carbonaceous) sediments are relatively common within the region.

4. Defined a suitably reduced target horizon containing organic carbon and pyrite at the base of the palaeochannel.

5. Confirmed the presence of oxidising groundwater movement (‘geochemical cells’) within this target horizon.

6. Defined prospective vertical and lateral redox boundaries within the palaeochannels.

7. Confirmed the occurrence of “Princess-Style” sandstone-hosted anomalous gamma and lowgrade uranium mineralisation within this target horizon.

Zeus considers these drilling results to be very encouraging. Further drilling at Narnoo is currently being planned as a follow-up to better investigate the anomalous gamma and low-grade mineralisation within Tertiary palaeochannel sandstones.

Wiluna Project

Work on the Wiluna Project during the Quarter focussed primarily on finalising exploration planning, permitting & approvals (including aboriginal heritage surveys) prior to commencing drilling. Additional work during the Quarter comprised ongoing compilation and review of relevant historical exploration data within the Wiluna region to refine Zeus' exploration targeting.

Aboriginal heritage clearance of proposed drill sites are currently being finalised.

Gascoyne Project

A. Red Rock (E52/2122)

Following the receipt of assay results last Quarter, radiometric anomalism at Red Rock is attributed primarily to a high Potassium and Thorium content, along with minor Uranium mineralisation;

This weakly anomalous geochemistry, coupled with massive nature and excellent exposure of the Red Rock batholith satisfactorily accounts for the strong airborne radiometric response.

Field work during the previous quarter determined that the massive, undeformed nature of the Red Rock batholith indicated that shear-hosted uranium/gold mineralisation, similar to occurrences within the Despair Granite to the east of the tenement, were unlikely to within the Discretion Granite on the Red Rock tenement. Furthermore, Despair Granite style mineralisation is not likely to contain sufficiently high uranium grades to warrant further exploration.

Zeus has therefore determined to surrender the tenement with no further work to be undertaken.

B. Mortimer Hills (E09/1618)

No work conducted during the quarter.

North Musgrave Project

No work conducted during the quarter.

Competent Person Statement:

Information in this release that relates to Exploration Results is based on information compiled by Mr Jonathan Higgins, who is a Member of the Australian Institute of Mining and Metallurgy (AusIMM). Mr Higgins is a full-time employee of Zeus Resources Limited. Mr Higgins has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Higgins consents to the inclusion in this release of the matters based on his information in the form and context in which it appears.

JORC Code, 2012 Edition – Table 1 Report

Section 1 Sampling Techniques and Data

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

Criteria	JORC 2012 Code Explanation	Commentary
Sampling techniques	 Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.	 All drill holes were down hole gamma logged by a contractor provided by Energy & Minerals Australia (EaMA) utilising a calibrated 33mm Auslogger natural gamma probe within the drill rods.  Downhole gamma data was collected at 2cm intervals.  Downhole gamma results have not been reported and was used to select intervals for conventionalgeochemical assays.
	 Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.	 Energy & Minerals Australia (EaMA) provided a calibrated 33mm Auslogger natural gamma probe for the duration of the drilling program.
	 Aspects of the determination of mineralisation that are Material to the Public Report.	 N/A
Drilling techniques	 Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).	 Drilling was conducted using a DRILLBOSS 200 aircore drilling rig supplied by Bostech Drilling.  Vertical drillholes were drilled through Tertiary palaeochannel sediments until economic basement was reached.  Economic basement comprised Permian claystones or Proterozoic metamorphic rocks.
Drill sample recovery	 Method of recording and assessing core and chip sample recoveries and results assessed.	 All drill cuttings were collected at 1m intervals from the drill- rig cyclone in sample bags (amounting to 20-30kg of sample per metre).
	 Measures taken to maximise sample recovery and ensure representative nature of the samples.	 Entire sample intervals drill cuttings were collected at 1m intervals from the drill-rig cyclone in sample bags (amounting to 20-30kgof sampleper metre).

	 Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	 Sample loss does not affect qualitative downhole gamma logging data.  All drill cuttings were collected and bagged for each 1m sample interval.
Logging	 Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.	 All aircore cuttings were geologically logged in detail at 1m intervals.  Cuttings samples were checked on site using a hand held RS125 Super Spectrometer and radiometrically anomalous samples submitted for assay
	 Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.	 Representative cuttings samples were collected in chip trays with a reference photography being taken to record colour and redox state.
	 The total length and percentage of the relevant intersections logged.	 All aircore cuttings were geologically logged in detail and the entire drillhole was downholegamma logged within the drill rods.
Sub-sampling techniques and sample preparation	 If core, whether cut or sawn and whether quarter, half or all core taken.	 N/A
	 If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.	 Samples were collected by spearing of wet and dry samples. Tertiary sediments were generally dry whilst Permian claystones(basement)were usuallywet.
	 For all sample types, the nature, quality and appropriateness of the samplepreparation technique.	 N/A
	 Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.	 N/A
	 Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half _sampling. _	 Samples were collected from bags by multiple spearings from different angles within the sample bags.
	 Whether sample sizes are appropriate to the grain size of the material being sampled.	 Sample sizes are appropriate for the grainsize of the material.
Quality of assay data and laboratory tests	 The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is consideredpartial or total.	 123 samples, including Zeus standards and field duplicates, were submitted to Intertek/Genalysis Laboratory in Kalgoorlie Groupfor a range of element analyses,includinguranium.

		Assay method was multi acid digest, ICPAES and ICPMS finish (Method codes 4A/MS and 4A/OE).  Appropriate QA/QC procedures including the use of sample blanks,repeats and standards were applied bythe laboratory.
	 For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.	 Cuttings sample radiometrics were individually analysed using hand held self-calibrating RS-125 Spectrometer containinga 6.3 cubic inch Sodium Iodide (NaI) crystal.  Spectral analysis was conducted on selected samples to aid in sample selection but has not been reported due to the inherent inaccuracyof their semi-quantitative analysis.
	 Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.	 Selected sample intervals were submitted to Intertek/Genalysis analytical laboratory in Kalgoorlie for conventional assay.  Sampled were crushed and pulverised before assaying for 16 elements.  Assay techniques comprised : o 4A/MS- Four-acid digest including Hydrofluoric, Nitric, Perchloric and Hydrochloric acids in Teflon Tubes. Analysed by Inductively Coupled Plasma Mass Spectrometry (ICP- MS). o 4A/OE- Four-acid digest including Hydrofluoric, Nitric, Perchloric and Hydrochloric acids in Teflon Tubes. Analysed by Inductively Coupled Plasma Optical (Atomic) Emission Spectrometry (ICP-OES).  Reference standards and blank samples were inserted at 1 in 20 ratio.  An additional 5% of Samples were check assayed by the laboratory with laboratory blanks and standards each inserted at 1 in 20 ratio.
Verification of sampling and assaying	 The verification of significant intersections by either independent or alternative company personnel.	 All drill results are checked by senior Zeus employees who have experience with uranium deposits; no independent checks were completed on these data.
	 The use of twinned holes.	 N/A

	 Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.	 Primary assay data (including assay certificates) is stored electronically as either ‘.csv’ or ‘.pdf’ or Wellcad files on the Zeus server in both Zeus' Sydney and Perth offices.  Assay data has been verified by senior Zeus personnel.  Zeus' database and server is backed upregularly
	 Discuss any adjustment to assay data.	 Laboratory values for uranium assays in parts per million were multiplied by 1.179 to obtain the oxide U308grade.  Assay data was supplied in elemental U and oxide U308format by the laboratory.
Location of data points	 Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.	 Sample locations were recorded using handheld GPS.  Elevations is derived from a digital elevation model produced during geophysical surveying over the tenement area.  Drilling comprised initial scout exploration drilling. No down-hole surveys were completed since all holes were drilled vertically and the shallow hole depths relative to wide drill spacing would have a negligible on anymineralised intercepts.
	 Specification of thegrid system used.	 Thegrid system used is GDA94,Zone 51.
	 Quality and adequacy of topographic control.	 The primary topographic control is from the Digital Elevation Mode which is sufficient given the generally flat-lying nature of the Tertiarysediments.
Data spacing and distribution	 Data spacing for reporting of Exploration Results.	 Drillhole spacing is currently at a 1 to several km spacing.
	 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 estimationprocedure(s) and classifications applied	 Data spacing is not yet sufficient to establish any degree of geological and grade continuity.
	 Whether sample compositing has been applied.	 No sample compositing has been applied. Assay samples comprise 1m intervals.
Orientation of data in relation to geological structure	 Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.	 Drillholes were oriented vertically. Drillhole traverses were oriented perpendicular to prevailing geological structures in order to define a cross-section across structurally-controlled palaeochannel systems (as interpreted from geophysical surveying).

	 If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	 Drillholes were not surveyed using a downhole orientation tool and cannot be incorporated in any future ore reserve calculations.  No sampling bias is evident in the orientation of the drill holes.

JORC Code, 2012 Edition – Table 1 Report

Section 2 Reporting of Exploration Results.

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

Criteria	JORC 2012 Code Explanation	Commentary
Mineral tenement and land tenure status	 Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.	 Zeus Resources holds 11 granted exploration tenements within the WilunaandNarnoo Regions.  Zeus operates a further 6 granted exploration tenements within the Wiluna, Gascoyne and North Musgrave regions. Transfer of tenement ownership to 100% of tenement ownership to Zeus Resources Ltd is in progress at the time of writing.  Tenement details and status are outlined inTable 1.  Drilling was conducted on the E39/1401, E38/1683, and E39/1687 tenements which are 100% owned by Zeus Resources Ltd.
	 The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	 All tenements are in currently in good standing and no impediments to operating are currently known to exist.
Exploration done by other parties	 Acknowledgment and appraisal of exploration by other parties.	 Exploration efforts have been conducted following review of publically available historical exploration data from the WA Department of Mines & Petroleum "WAMEX" dataset.  Regional scale drilling was conducted by BP Minerals during the 1979-1981 period with several exploration holes being sited on Zeus' tenements in the Narnoo Region.
Geology	 Deposit type, geological setting and style of mineralisation.	Potential deposit types/mineralisation styles at the Narnoo Projects include:  Calcrete- and sandstone-hosted uranium mineralisation within Mesozoic to Tertiary Palaeochannels and modern drainage systems.

		 The primary exploration target comprises sandstone-hosted peneconcordant uranium mineralisation developed at the base of the Tertiary palaeochannels, similar in style to that seen at EaMA's Princess Deposit (located approximately 25km along strike to the southwest).
Drill hole Information	 A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:	 Refer to table 2.
	 easting and northing of the drill hole collar	 Refer to table 2.
	 elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar	 Refer to table 2.
	 dip and azimuth of the hole	 Refer to table 2.
	 down hole length and interception depth	 Refer to table 2.
	 hole length.	 Refer to table 2.
	 If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	 Refer to table 2.
Data aggregation methods	 In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated.	 A cut-off grade of 200ppm (0.2%U3O8) has been used for mineralisation. Grades below this are referred to as anomalous U or gamma. Grades <50ppmU3O8are not considered significant.
	 Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.	 N/A

	 The assumptions used for any reporting of metal equivalent values should be clearly stated.	 Uranium values have been reported as U3O8(ppm) derived from laboratory assay. No metal equivalent values have been reported.
Relationship between mineralisation widths and intercept lengths	 These relationships are particularly important in the reporting of Exploration Results.	 Uranium mineralisation widths as reported have been derived from samples of aircore drillingcuttings taken at 1m intervals.
	 If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.	 Uranium mineralisation is interpreted to be broadly tabular (peneconcordant) in style but drill spacing is insufficient to determine further.
	 If it is not known and only the down hole lengths are reported, there should be a clear statement to this _effect(eg ‘down hole length, true width not known’). _	 Only downhole lengths are reported. These lengths are appropriate given the vertical orientation of the drillholes and the flat-lyingnature of mineralisation.
Diagrams	 Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	 N/A.
Balanced reporting	 Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	 As comprehensive reporting of all exploration results is not practicable, representative reporting of both low and high grades have been conducted.
Other substantive exploration data	 Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	 Geological observations and geochemical survey results have been accurately reported.

Further work	 The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling).	 Planned further work comprises exploration drilling.  Subsequent exploration work will be dependent upon results received.
	 Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	 See Figure 2.