Announcement PDF ASX ANNOUNCEMENT: ASX: DAL 31 January 2025 Quarterly Activities Report For Period Ended 31 December 2024 ______________________________________________________________________________ Highlights Lyons River Project Broken Hill Type prospectivity confirmed • EIS diamond drilling program testing the lead-zinc-silver (Pb-Zn-Ag) target at Browns Prospect returned encouraging base metal assay results up to 1.1% Zn. • • Drilling confirmed Broken Hill Type host rocks with significant intervals of sulphides throughout the sequence within argillaceous metasediments and zones of silica-pyrite alteration. The diamond drill program at Browns was partly funded by the Exploration Incentive Scheme grant awarded to Dalaroo by the Government of Western Australia Copper Potential • High grade copper with assay results of 16.2% Cu* from follow up rock chip sampling over the expanded Browns prospect. High grade copper is coupled with gold values of up to 0.24g/t Au and 3 g/t Ag. Goodbody EIS drill program • The Company suspended the EIS co-funded drill program aimed to follow-up on encouraging gold mineralisation discovered in a maiden air-core drill program on gold in soil anomalies. This was due to the closeness to the wet season and concerns over safety and potential delays. • Dalaroo is currently reviewing project data in order to optimize future work programs. Corporate Appointment of Michael Brown - MD and CEO • The Board appointed Michael Brown as MD and CEO of Dalaroo. Mr Brown is an experienced geologist and CEO and has over 30 years’ experience in exploration, mining, energy, finance and capital markets. Previously he led both ASX (Chesser Resources ASX:CHZ) and TSX (Argentex Mining TSXV:ATX) companies, successfully delivering on business strategy and shareholder returns. He has a BSc (Geol-Hons), BA, an MBA and is a member of AIG. New Projects • Dalaroo continues to assess and identify new projects to acquire or earn into which the Board considers are complimentary to Dalaroo’s existing Lyons River and Namban projects and have the potential to create further value for shareholders. *The assay result of surface samples may not be representative of copper, gold and silver mineralisation at depth. Lyons River Project Dalaroo Metals Ltd (ASX: DAL, “Dalaroo” or “Company”) is pleased to provide an update on its activities during the December Quarter 2024. Geographically the Lyons River Project is located approximately 1,100km north of Perth and approximately 220km to the north-east of Carnarvon and comprises a strategic (100% owned) land position of 838km2 within the Proterozoic age Mutherbukin Zone of the Gascoyne Province in Western Australia. The Gascoyne Province is a deformed and high-grade metamorphic core zone of the early Proterozoic Capricorn Orogen. Figure 1: Dalaroo Metals, Lyons River Project prospects in the Gascoyne Province showing neighbouring companies and their prospects. 2 Broken Hill Type prospectivity confirmed - EIS Diamond Drilling at Browns Dalaroo is pleased to announce that its recently completed diamond drilling program at its Browns Prospect, Lyons River Project has intersected a Broken Hill Type mineralised sequence with encouraging assay results of up to 1.1% Zn. Four deep diamond core holes totalling 994.4m have tested a prospective Pb-Zn-Ag base metal target covering an area of 6km2 (3km X 2km). The Company believes the district is an emerging Broken Hill Type (BHT) / Sedimentary Exhalative (“SEDEX”) deposit setting. The Browns Prospect is one of six Pb-Zn soil geochemical prospects identified at Lyons River within the Proterozoic Age basin setting covering an area of 300km2 (30km by 10km) (Figure 1). The Browns Prospect represents the second site of Pb-Zn-Ag intersections discovered by bedrock drilling in the Mutherbukin Zone, 5km east of Dalaroo’s Four Corners Pb-Zn-Ag prospect. The Browns Prospect comprise a broad Pb-Zn soil (max 1445ppm Pb, 1080 Zn ppm) and rock chip geochemical anomaly covering an area of 3km X 2km, associated with extensive iron-rich and high-grade gossanous material at surface with results of up to 39.6% Pb, up to 0.71% Zn and up to 82g/t Ag (refer DAL ASX Announcement from 15 February 2022). Dalaroo’s Aircore (AC) drill programs at Browns testing the geochemical anomalism have been successful in intersecting zones of interbedded psammitic to pelitic lithologies together with zones of disseminated base metal sulphides such as galena and sphalerite. Significant AC drilling Pb-Zn sulphide intercepts have included 10m @ 1.04% Pb, 0.49% Zn, 2.85g/t Ag from 37m (LRAC010) Including 1m @ 3.13% Pb, 0.24% Zn, 5g/t Ag from 38m and 63m @ 1.76g/t Ag from 16m (refer DAL ASX Announcement from 14 February 2023). Figure 2: Lyons River, Browns prospect and five other Pb-Zn soil geochemical prospects /targets over greyscale 1 Vertical Derivative Aeromagnetics image. 3 Four diamond core holes totalling 994.4m (Figure 3) tested a prospective Pb-Zn-Ag base metal target covering an area of 3km X 2km. The holes ranged in depth from 142.3m to 300m and tested separate zones below the AC drill anomalies and prospective coincident gravity/geochemical targets (Table 1). Table 1: Browns Prospect EIS diamond drill holes locations. Nominal RL Dip (°) Azimuth (mag) Depth (m) Tenement 7285202 281 -56 180 300 E09/2102 378102 7285294 281 -60 180 300 E09/2102 LRDD007 378102 7285045 283 -60 180 252.1 E09/2102 LRDD008 377733 7284791 286 -60 180 142.3 E09/2102 Drillhole MGAE MGAN LRDD005 378333 LRDD006 Figure 3: Lyons River Project – Browns prospect EIS diamond drill hole and AC drill hole plan draped over gravity image. EIS drilling has defined an interbedded sequence of garnet-and sillimanite-bearing pelitic to psammopelitic schists, intermediate to felsic gneiss, and meta-sandstones, analogous to the host rock sequences at Broken Hill. Akin to Broken Hill the rocks have undergone high-grade metamorphism, to generate the quartz-biotite-feldspar-garnet-muscovite-sillimanite assemblage. The main lithologies identified are shown in Figure 4. The sequence has been intruded by granitic pegmatite and lesser, serpentinised, ultramafic dykes. 4 Figure 4: Browns drill section 378100E Intervals of disseminated, blebby and veinlet pyrite occur throughout the sequence and are typically more abundant with argillaceous, pelitic lithologies (biotite-quartz schist). The thickest sequences of these argillaceous, pelitic to psammo-pelitic rocks occur in the northern part of the prospect and broadly correlate with the main (northern) Pb-Zn-Ag surface anomaly. In addition, several zones of silica-pyrite alteration have been logged throughout the sequence. Better base-metal intercepts include: • 1m @ 0.55% Pb and 0.11% Zn from 58m (LRDD005) • 3m @ 0.33% Pb and 0.12% Zn from 62m (LRDD006) • 1m @ 0.13% Pb, 0.7% Zn and 2ppm Ag from 81m (LRDD006) • 1m @ 0.19% Pb and 1.09% Zn from 146m (LRDD006) • 5m @ 277ppm Pb and 1324ppm Zn from 127m (LRDD007) The better results were returned from holes LRDD005 and LRDD006 in the northern part of the Browns Prospect. Drilling in this area intercepted several zones of argillaceous, pelitic schist up to 65m thick that contain up to 5% pyrite. Such lithologies are commonly more prospective in BHT systems, and at Browns, these zones exhibit broad widths of base metal anomalism, that include discrete, higher-grade zones, including 1.09% Zn and 0.55% Pb over 1m intervals. Aeromagnetic data and structural analysis of drillcore suggests a possible NE structural control to mineralisation, although additional drilling would be required to confirm this. 5 Copper Potential A review of Lyons River Project copper potential has been undertaken using the project wide historical soil geochemical and rock chip samples. High grade copper assay results of 54.8% coupled with silver grades of 80g/t were returned from rock chip sampling program in 2023 associated with malachite rich zone over the south-western part of the Browns prospect (Refer DAL ASX Announcement from 31 October 2023). Copper assays of 1.64% accompanied by silver assays of 21.5g/t have previously been recorded from rock chip sampling completed at the Four Corners Prospect located 5km to the west of Browns. In other parts of the Lyons River Project copper values from rock chip samples have returned assays ranging from 505ppm to 2617ppm (0.26%). Historical shallow RC drill program in 2008 by previous explorers at Four Corners had returned an intersection of 3m @ 0.50% Cu including 1m @ 0.92% Cu from 56m, with mineralisation associated chalcopyrite (Refer DAL ASX Announcements from 16 March 2022). Field reconnaissance of copper anomalous areas was undertaken in the December Quarter 2024 with a total of 32 new samples collected. Multi-element analysis has returned high grade copper with assay results of up to 16.2% Cu. High grade copper is coupled with gold values of up to 0.24g/t Au and 3 g/t Ag (Table 2). Outcropping surface malachite copper mineralisation has been observed over a strike distance of 60m. This highlights potential for the discovery of copper within the Lyons River Project (Figures 5 and 6). Figure 5: Total Magnetic Intensity 1st Vertical Derivative image overlain by project wide soil geochemical samples (anomalous copper) and rock chip sample with copper assays above 500ppm. 6 In addition, a soil geochemical sampling program was undertaken over the Lyons River Project over a number of conceptual target areas with potential for copper with a total of 467 samples collected. Copper values of up to 169ppm have been returned (Figures 5 and 6). Figure 6: Total Magnetic Intensity image overlain by historical and new soil geochemical samples (anomalous copper) and rock chip sample result with copper assays of 16.2% Cu and 0.24 g/t Au. Table 2: Lyons River Project, Browns Prospect rock chip sample assays. Sample_ID 81023-1 81023-2 81023-3 81023-4 81023-5 81023-6 81023-7 81023-8 DM002191 DM002192 DM002193 DM002194 Easting 376575 376573 376570 376567 376565 376567 376554 376581 382198 382469 382306 381295 Northing Au_ppb Ag_ppm Cu_ppm 7283838 104 1 34100 7283839 20 <0.5 4070 7283843 240 3 162000 7283850 14 <0.5 2110 7283849 92 0.5 39000 7283852 56 <0.5 14300 7283859 12 <0.5 1930 7283835 6 <0.5 878 7288975 6 <0.5 192 7288994 8 <0.5 302 7289128 4 <0.5 630 7289144 6 <0.5 660 Cu% 3.41 0.407 16.2 0.211 3.90 1.43 0.193 0.19 0.3 0.63 0.66 7 Namban Project Evaluation of the copper potential of the northern tenements was undertaken and potential work programs for advancing high copper in soil and magnetic anomalies is in process. Figure 7: Namban Project Location along the northern extent of the arcuate Julimar – Yule Corridor, truncated by the Darling Fault (dark blue) to the west. Image is 1VD-RTP magnetics draped with Bouger Gravity 8 New Projects Dalaroo is currently reviewing projects, which it may seek to apply for, acquire or earn into which the Board considers are complementary to Dalaroo’s existing Namban and Lyons River projects and have the potential to create further value for. Corporate Dalaroo advised on 21st of October 2024, that Mr Michael Brown had been appointed to the position of Managing Director and Chief Executive Officer of the Company following Mr Harjinder Kehal’s resignation from those roles. Mr Brown is an experienced geologist and CEO and has over 30 years’ experience in exploration, mining, energy, finance and capital markets. Previously he led both ASX (Chesser Resources ASX:CHZ) and TSX (Argentex Mining TSXV:ATX) companies, successfully delivering on business strategy and shareholder returns. He led the blind greenfield discovery of Diamba Sud in Senegal as CEO of Chesser, building the team and the newest gold discovery in Senegal. He is an experienced leader in all types of companies from junior and private companies to major companies across the world. Mr Brown holds a double Bachelor of Science (Honours-Geology) and Bachelor of Arts from the University of Melbourne and an MBA from Melbourne Business School. He is also a Member of the Australian Institute of Geoscientists (Competent Person). As at the date of this report, the Company has the following securities on issue: Security Type Fully Paid Ordinary Shares Number 248,375,000 Unlisted Options - exercisable at $0.25 each, expiring 28 September 2025 8,000,000 Unlisted Options – exercisable at $0.08 each, expiring 5 July 2025 14,375,000 Unlisted Options – exercisable at $0.036 each, expiring 23 August 2029 182,187,500 Performance Rights 16,651,250 Financial Commentary The Appendix 5B for the quarter ended 31 December 2024 provides an overview of the Company’s financial activities. Exploration expenditure for the quarter was $266K. Corporate, staff costs and other expenditure for the quarter was $247K. The total amount paid to Directors of the Company, their associates and other related parties was $237K which includes salary and fees and rent paid to Borden Holdings Pty Ltd (an entity associated with Mr David Quinlivan) for leasing the corporate offices. The Company’s cash balance at the end of the quarter was $1,400,000. ENDS 9 For more Information: Please visit our website for more information: www.dalaroometals.com.au Michael Brown, Managing Director on +61 466 856 061 Authorised for release to the ASX by the Board of Dalaroo Metals Ltd. COMPETENT PERSON The information in this report that relates to Exploration results is based on information compiled by Dalaroo Metals Ltd and reviewed by Mr Michael Brown who is a Geologist and Member of the AIG. Mr Brown has sufficient experience that is relevant to the style of mineralisation, the type of deposit under consideration and to the activities 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 Brown consents to the inclusion in this report of the matters based on this information in the form and context in which it appears. FORWARD-LOOKING INFORMATION This report may include forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning the planned exploration program and other statements that are not historical facts. When used in this report, the words "could", "plan", "estimate", "expect", "intend", "should" and similar expressions are forward-looking statements. Although Dalaroo believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forwardlooking statements. CAUTIONARY NOTE The statements and information contained in this report are not investment or financial product advice and are not intended to be used by persons in deciding to make an investment decision. In releasing this report, Dalaroo has not considered the objectives, financial position or requirements of any particular recipient. Accordingly, potential investors should obtain financial advice from a qualified financial advisor prior to making an investment decision. NO NEW INFORMATION Except where explicitly stated, this report contains references to prior exploration results, all of which have been cross-referenced to previous market announcements made by the Company. The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcements. 10 ASX Releases during the December Quarter 2024 Date Description 9 October 2025 EIS Co-Funded Diamond Drilling Commencing Goodbody 21 October 2024 Board & Executive Management Changes 21 October 2024 Initial Director’s Interest Notice – Michael Brown 21 October 2024 Final Director’s Interest Notice – Michael Brown 30 October 2024 Diamond Drilling Confirms Lead-Zinc Prospectivity at Browns 30 October 2024 Notice of Annual General Meeting/Proxy Form 31 October 2024 Diamond Drilling Confirms Lead-Zinc Prospectivity Updated 31 October 2024 Quarterly Activities/Appendix 5B Cash Flow Report 1 November 2024 Notification of cessation of securities – DAL 1 November 2024 Cancellation of Performance Rights 29 November 2024 Results of 2024 Annual General Meeting 2 December 2024 Notification regarding unquoted securities – DAL 2 December 2024 Change of Director’s Interest Notice – Michael Brown Tenement Schedule as at 31 December 2024 Interest held at 31 December 2024 Project Name Location Tenement Licence Lyons River WA E09/1824 Lyons River WA E09/1825 100% Lyons River WA E09/2098 100% Lyons River WA E09/2102 100% Lyons River WA E09/2304 100% Lyons River WA E09/2305 100% Lyons River WA E09/2312 100% Lyons River WA E09/2713 100% Namban WA E70/4694 100% Namban WA E70/4928 100% Namban WA E70/5702 100% Namban WA E70/5494 100% Namban WA E70/5502 100% Namban WA E70/5604 100% 100% 11 About the Lyons River Project Lyons River is located approximately 1,100km north of Perth and approximately 220km to the north-east of the coastal town of Carnarvon, Western Australia. The Lyons River Project lies within the Mutherbukin Zone of the Gascoyne Province, which is the deformed and high-grade metamorphic core zone of the early Proterozioc Capricorn Orogen (Figure 8). Figure 8: Lyons River Project location diagram 12 About the Namban Project Namban Project comprises an under explored ground package totalling 437km2 located in the mid-north part of the wheatbelt region, deemed by Dalaroo to be prospective for magmatic intrusion related Ni-CuPGE deposits. The Company has a 100% controlling interest in the Namban Project, comprising six tenements extending from the townships of Moora in the south to Three Springs in the north (Figure 9). Figure 9: Namban Project tenements location map 13 Appendix 1: Dalaroo Metals Ltd – Air core (AC) Drilling Program Lyons River Project – Browns prospect - JORC Code Edition 2012: Table 1 Section 1: Sampling Techniques and Data (Criteria in this section apply to all succeeding sections) Criteria JORC Code explanation Commentary Sampling techniques Nature and quality of sampling (e.g. 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 x-ray fluorescence (XRF) instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. Rock chip and soil sampling Rock chip samples comprised gossanous/iron rich ferruginous oxide phases and containing copper mineralisation. Include reference to measures taken to ensure sample representivity and the appropriate Soil samples are generally homogenised by the calibration of any measurement tools or systems collection process. Entire sample was submitted used. for sample prep and assay. Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘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 (e.g. submarine nodules) may warrant disclosure of detailed information. Drilling techniques Rock chip sample size of 1-4 kg. For soil sampling, at the selected sample site, a small hole is dug to a depth of approximately 20 cm. The soil material at the base of the hole was sieved, and approximately 2kg of –2mm soil material was collected into a numbered calico bag. Rock chip and soil sampling results are a first pass exploration technique that can assist in vectoring toward mineralisation. Drill type (e.g. core, reverse circulation, open- No drilling results reported hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, facesampling bit or other type, whether core is oriented and if so, by what method, etc.). 14 Criteria JORC Code explanation Commentary Drill sample recovery Method of recording and assessing core and chip No drilling results reported. sample recoveries and results assessed. Measures taken to maximise sample recovery No drilling results reported. and ensure representative nature of the samples. Whether a relationship exists between sample recovery and grade and whether sample bias No drilling results reported. may have occurred due to preferential loss/gain of fine/coarse material. Logging Whether core and chip samples have been Sample type and landform/regolith settings were geologically and geotechnically logged to a level recorded, and geo-tagged photos of samples and of detail to support appropriate Mineral settings taken. Resource estimation, mining studies and metallurgical studies. Whether logging is qualitative or quantitative in No drilling results reported. nature. Core (or costean, channel, etc.) photography. The total length and percentage of the relevant intersections logged. Subsampling techniques and sample preparation If core, whether cut or sawn and whether Soil samples were sieved to collect the -2 mm fraction. quarter, half or all core taken. If non-core, whether riffled, tube sampled, Representative rock samples were collected. rotary split, etc and whether sampled wet or dry. All samples were dry. For all sample types, the nature, quality and Sample preparation of samples follows industry appropriateness of the sample preparation best practice standards and is conducted by internationally recognized laboratories; i.e. technique. Oven drying, jaw crushing and pulverising so that Quality control procedures adopted for all 90% passes -75 microns subsampling stages to maximise representivity of samples. There was no sub-sampling Measures taken to ensure that the sampling is Soil sampling completed on a regular grid line representative of the in-situ material collected, spacings to ensure representative sampling of including for instance results for field area being assessed. duplicate/second-half sampling. Entire rock sample was submitted for multiWhether sample sizes are appropriate to the element assay and sample size is considered grain size of the material being sampled. appropriate for the material being sampled. Entire soil sample submitted for assay and sample size is considered appropriate for the material being sampled. 15 Criteria JORC Code explanation Commentary Quality of assay The nature, quality and appropriateness of the Rock samples have been submitted to Bureau assaying and laboratory procedures used and Veritas Laboratories for analysis by 4-Acid Digest data and laboratory tests whether the technique is considered partial or - 0.2g total. For geophysical tools, spectrometers, handheld Samples analysis and determined by Inductively XRF instruments, etc, the parameters used in Coupled Plasma (ICP) Optical Emission determining the analysis including instrument Spectrometry and Inductively Coupled Plasma make and model, reading times, calibrations (ICP) Mass Spectrometry. factors applied and their derivation, etc. Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established. Verification of sampling and assaying The verification of significant intersections by Anomalous geochemical thresholds either independent or alternative company determined by a senior geologist personnel. The use of twinned holes. were None drilled. Documentation of primary data, data entry procedures, data verification, data storage All field data was manually collected, entered (physical and electronic) protocols. into excel spreadsheets, validated and loaded Discuss any adjustment to assay data. into Access database and processed by a number of different exploration software. None required Location of data points Accuracy and quality of surveys used to locate All samples collected are located using a drillholes (collar and downhole surveys), handheld GPS. trenches, mine workings and other locations used in Mineral Resource estimation. Grid system used for geochemical sampling is Specification of the grid system used. GDA94 Zone 50 Quality and adequacy of topographic control. For geochemical sampling nominal RLs based on regional topographic data sets and handheld GPS. Data spacing Data spacing for reporting of Exploration Rock chip sampling spacing based on and distribution Results. geology/structural framework. Whether the data spacing and distribution is Soil sampling on 100m X 50m and 50m X 25m sufficient to establish the degree of geological spacing based on geology/structural framework and grade continuity appropriate for the MRE not being reported. Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. Whether sample compositing has been applied. 16 Criteria JORC Code explanation Commentary 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. Soil sample lines were orientated approximately perpendicular to the geological strike and strike of the interpreted major structures. Given the topography and early stage of exploration, the sampling orientation is not considered to introduce a bias to the interpretation of the data. Rock chip sampling was of a reconnaissance nature only and was not designed to achieve unbiased sampling. If the relationship between the drilling No drilling results reported. orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. Sample security The measures taken to ensure sample security. Audits or reviews Samples were collected into labelled polyweave sacks which were sealed by cable ties. The polyweave sacks were placed in bulka-bags and transported to the laboratory by freight company. Once the samples arrived at the laboratory, the samples numbers were checked against the sample submission form and no errors were identified. The results of any audits or reviews of sampling As part of the interpretation of the data the Company’s geologist undertook a review of the techniques and data. assay data quality, including laboratory batch effects. No significant biases were identified. Section 2: Reporting of Exploration Results (Criteria listed in the preceding section also apply to this section) Criteria JORC Code explanation Commentary Mineral tenement and land tenure status Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. The Lyons River Project tenements are wholly owned by Dalaroo Metals Limited (“Dalaroo”) The Project is located 220km north-east of Carnarvon on Eudamullah Pastoral Station. The Competent Person is unaware of any The security of the tenure held at the time of impediments to development of these reporting along with any known impediments to tenements. obtaining a licence to operate in the area. 17 Criteria JORC Code explanation Commentary Exploration done by other parties Acknowledgment and appraisal of exploration by Exploration of Lyons River has previously been other parties. undertaken by other parties including Audalia Resources and Serena Minerals and the Competent Person has referenced the parties involved and the results of this work throughout the text. Audalia Resources and Serena Minerals undertook exploration with a focus on base metals during the period 2013 to 2021. Work completed regional geological mapping, geophysical surveys, rock chip sampling, stream sediment sampling and soil sampling. Geology Deposit type, geological setting, and style of The tenements are located in the Mutherbukin mineralisation. zone of the Gascoyne Province. The majority of the tenement area is interpreted to be dominated by a sequence undifferentiated schists, gneiss and granites of the Durlacher Suite (Davey Well Granite) and Thirty Three Supersuite granitic pegmatites. The primary mineralisation style being sought is metamorphosed base metal mineralisation of the Broken Hill type (BHT)/SEDEX and copper mineralisation. Drillhole information A summary of all information material to the No drillholes are reported. understanding of the exploration results including a tabulation of the following information for all Material drillholes: • easting and northing of the drillhole collar • elevation or RL (Reduced Level – elevation above sea level in metres) of the drillhole collar • dip and azimuth of the hole • down hole length and interception depth • hole length. If the exclusion of this information is justified on The plan provided in the body of the report the basis that the information is not Material and identifies the location of the rock chip sampling this exclusion does not detract from the sites. understanding of the report, the Competent Person should clearly explain why this is the case. 18 Criteria JORC Code explanation Commentary Data aggregation methods In reporting Exploration Results, weighting No metal equivalent values have been reported. averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated. Where aggregate intercepts