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REG - Oracle Power PLC - Northern Zone Project Drill Results

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RNS Number : 5817N  Oracle Power PLC  26 November 2024

26 November 2024

Oracle Power PLC

("Oracle" or the "Company")

 

Northern Zone Project Drill Results

 

Final assay results from the recent drill programme include significant high
grade gold intercepts

 

Oracle Power PLC (AIM:ORCP), an international project developer, is pleased to
announce that it has received the final batch of assay results from the
November 2024 aircore ("AC") drilling undertaken during Riversgold Limited's
("Riversgold" or "RGL") fourth aircore programme at the Northern Zone
Intrusive Hosted Gold Project (the "Northern Zone Project").

 

Highlights:

o  Latest assay results include:

§ 8m @ 4.86 g/t Au from 34m (NZAC090)

-      inc. 4m @ 5.09 g/t Au from 34m

-      inc. 1m @ 18.22 g/t Au from 36m

-      inc. 1m @ 17.96 g/t Au from 40m

§ 6m @ 3.13 g/t Au from 30m (NZAC097)

-      inc. 2m @ 7.39 g/t Au from 33m

-      inc. 1m @ 10.41 g/t Au from 34m

§ 5m @ 3.74 g/t Au from 31m (NZAC100)

§ 1m @ 5.72 g/t Au from 33m (NZAC092)

§ 3m @ 1.75 g/t Au from 33m (NZAC099)

o  The continuation of the high-grade oxide zone within the 600m wide
porphyry system has been expanded (see Figure 1).

o  The results of these drill holes continue to confirm and enlarge the
shallow gold mineralisation associated with the Northern Zone Project
porphyry.

o  The dynamic Leapfrog gold model for Northern Zone Project will be updated
with these latest results in the coming weeks, which will inform and guide
future drill campaigns.

o  A mineralisation report is expected at the end of November, with a Mining
Lease application to be submitted thereafter.

o  Possible ore processing scenarios have been demonstrated by the recent
success of Black Cat Syndicate Ltd(1), at their Myhree open pit, located only
7km to the north of Northern Zone Project.

 

Naheed Memon, CEO of Oracle, commented: "The Northern Zone Project continues
to indicate significant gold intercepts and grow the footprint, and
demonstrating high grades at relatively shallow depths over good widths within
the overall 600m wide porphyry. We are particularly encouraged by the recent
success of Black Cat's Myhree open pit operations(( 1  (#_ftn1) )) only 7km
north of the Northern Zone Project and we are assessing if similar operations
would be achieved at the Northern Zone Project after we convert the tenement
to a Mining Lease - which is work in progress post the imminent completion of
the mineralisation report."

 

Following on from the successful aircore programmes completed in May, July and
September 2024, Riversgold (the Company's potential JV partner) engaged
drilling contractor, Australian Aircore Drilling (Mick Shorter), to undertake
a fourth aircore programme for a further 26 holes in early November 2024. A
further 1,545m of AC drilling (refer Appendix 1 for all drill data information
and significant intercepts, Tables 1, 2 and 3) was completed at the Northern
Zone Project in the most recent drilling campaign, bringing the total number
of metres drilled this year to 8,971m of AC drilling and 1,363m of reverse
circulation drilling.

 

The AC holes were drilled using a blade to drilling refusal. The cuttings were
logged by RGL geologists, and both the detailed logging and assays continue to
show that a significant gold mineralisation event has taken place within the
project area.

 

Today's results covering 16 holes, of which 14 intersected gold
mineralisation, with 1,545 metres drilled, continue to successfully target the
mineralised porphyry over an increasing footprint within the tenement. The
expansion of the high-grade zone in the northwestern extensional area and the
extension of anomalous gold mineralisation in eastern and north-eastern areas
continues to validate the broader geological model. Gold mineralisation
remains open in multiple directions and will require further modelling and
drill testing. We will continue to further our understanding of the Northern
Zone Project before proceeding with a maiden Mineral Resource Estimate (MRE).

 

Possible ore processing scenarios have been demonstrated by the recent success
of Black Cat Syndicate Ltd via their use of a turn-key funding, development
and processing package at their Myhree/Boundary open pits 2  (#_ftn2) , which
are located 7km to the north of the Northern Zone Project.

 

For further information contact:

 

 Oracle Power PLC                                        +44 (0) 20 7236 1177

 Naheed Memon - CEO

 Strand Hanson Limited (Nominated Adviser & Broker)      +44 (0) 20 7409 3494

 Rory Murphy, Matthew Chandler, Rob Patrick

 St Brides Partners Limited (Financial PR)               oracle@stbridespartners.co.uk

 Isabel de Salis, Susie Geliher

 

This announcement contains inside information for the purposes of Article 7 of
EU Regulation No. 596/2014, which forms part of United Kingdom domestic law by
virtue of the European (Withdrawal) Act 2018, as amended.

 

Competent Person's Statement

The Information in this announcement that relates to exploration results,
exploration targets, mineral resources or ore reserves is based on information
compiled by Mr Edward Mead, who is a Fellow of the Australasian Institute of
Mining and Metallurgy. Mr Mead is a director of Riversgold Limited and a
consultant to the Company through Doraleda Pty Ltd. Mr Mead has sufficient
experience which is relevant to the style of mineralisation and type of
deposits under consideration and to the activity that he is undertaking to
qualify as a Competent Person as defined in the 2012 edition of the
`Australasian Code for Reporting Exploration Results, Mineral Resources and
Ore Reserves' (the JORC Code). Mr Mead consents to the inclusion of this
information in the form and context in which it appears in this announcement.

 

 

Figure 1: Recent drill collar plan with gold grade contours from all drilling
results to date

 

 

 

Figure 2: Northern Zone Project Map showing proximity to the Kalgoorlie "Super
Pit".

 
APPENDIX 1: Drilling Information

Table 1: Northern Zone Significant Intercepts

 Hole ID    From (m)  To (m)  Width (m)  Au g/t  Intercept
 NZAC091    48        54      6          0.59    6m @ 0.59 g/t Au from 28m, NZAC091
 NZAC091    35        36      1          0.79    1m @ 0.79 g/t Au from 35m, NZAC091
 NZAC087    32        36      4          0.65    4m @ 0.65 g/t Au from 32m, NZAC087
 NZAC086    33        35      2          0.97    2m @ 0.97 g/t Au from 33m, NZAC086
 NZAC086    54        55      1          5.48    1m @ 5.48 g/t Au from 54m (EOH), NZAC086
 NZAC092    51        52      1          5.72    1m @ 5.72 g/t Au from 33m, NZAC092
 NZAC101    37        40      3          1.1     3m @ 1.10 g/t Au from 37m, NZAC101
 including  37        38      1          2.29    including 1m @ 2.29 g/t Au from 37m
 NZAC097    30        36      6          3.13    6m @ 3.13 g/t Au from 30m, NZAC097
 including  33        35      2          7.39    including 2m @ 7.39 g/t Au from 33m
 including  34        35      1          10.41   including 1m @ 10.41 g/t Au from 34m
 NZAC089    32        35      3          0.89    3m @ 0.89 g/t Au from 32m, NZAC089
 including  32        33      1          1.22    including 1m @ 1.22 g/t Au from 32m
 NZAC100    31        36      5          3.74    5m @ 3.74 g/t Au from 31m, NZAC100
 NZAC099    33        36      3          1.75    3m @ 1.75 g/t Au from 33m, NZAC099
 NZAC098    35        43      8          0.77    8m @ 0.77 g/t Au from 35m, NZAC098
 including  35        37      2          1.55    including 2m @ 1.55 g/t Au from 35m
 NZAC103    34        35      1          1.04    1m @ 1.04 g/t Au from 34m, NZAC103
 NZAC102    29        36      7          0.56    7m @ 0.56 g/t Au from 29m, NZAC102
 NZAC088    28        30      2          1.05    2m @ 1.05 g/t Au from 28m, NZAC088
 including  28        29      1          1.49    including 1m @ 1.49 g/t Au from 28m
 NZAC088    35        38      3          0.96    3m @ 0.96 g/t Au from 35m, NZAC088
 including  36        37      1          1.33    including 1m @ 1.33 g/t Au from 36m
 NZAC090    28        29      1          1.04    1m @ 1.04 g/t Au from 28m, NZAC090
 NZAC090    34        42      8          5.09    8m @ 4.86 g/t Au from 34m, NZAC090
 including  34        38      4          5.09    including 4m @ 5.09 g/t Au from 34m
 including  36        37      1          18.22   including 1m @ 18.22 g/t Au from 36m
 including  40        41      1          17.96   including 1m @ 17.96 g/t Au from 40m

 

Table 2:  Northern Zone Aircore Drill Collar Locations and information in GDA
Zone 51J

 Hole_ID  East    North    Depth  Dip  Elevation  Azimuth
 NZAC086  381535  6592617  55     -90  357        0
 NZAC087  381584  6592615  51     -90  357        0
 NZAC088  381620  6592673  51     -90  357        0
 NZAC089  381569  6592625  49     -90  357        0
 NZAC090  381633  6592685  58     -90  357        0
 NZAC091  381600  6592626  51     -90  357        0
 NZAC092  381550  6592625  51     -90  357        0
 NZAC093  381840  6592918  73     -90  357        0
 NZAC094  381825  6592902  75     -90  357        0
 NZAC095  381850  6592925  48     -90  357        0
 NZAC096  381535  6592640  51     -90  357        0
 NZAC097  381575  6592650  55     -90  357        0
 NZAC098  381624  6592649  72     -90  357        0
 NZAC099  381635  6592661  64     -90  357        0
 NZAC100  381587  6592660  55     -90  357        0
 NZAC101  381560  6592639  50     -90  357        0
 NZAC102  381612  6592639  73     -90  357        0
 NZAC103  381638  6592639  61     -90  357        0
 NZAC104  381657  6592638  61     -90  357        0
 NZAC107  381942  6592584  59     -90  357        0
 NZAC108  381952  6592600  65     -90  357        0
 NZAC109  381970  6592618  63     -90  357        0
 NZAC110  381913  6592636  57     -90  357        0
 NZAC111  381923  6592655  59     -90  357        0
 NZAC112  381964  6592653  68     -90  357        0
 NZAC113  381957  6592640  69     -90  357        0

 

 

Table 3: Northern Zone Aircore Results at > 0.3 g/t Au Grade Cutoff

 Hole ID  From (m)  To (m)  Width (m)  Au Grade (g/t)
 NZAC086  33        34      1          1.44
 NZAC086  34        35      1          0.49
 NZAC086  53        54      1          0.42
 NZAC086  54        55      1          5.48
 NZAC087  32        33      1          1.21
 NZAC087  33        34      1          0.50
 NZAC087  34        35      1          0.56
 NZAC087  35        36      1          0.33
 NZAC088  28        29      1          1.49
 NZAC088  29        30      1          0.60
 NZAC088  35        36      1          0.94
 NZAC088  36        37      1          1.33
 NZAC088  37        38      1          0.62
 NZAC089  32        33      1          1.22
 NZAC089  33        34      1          0.84
 NZAC089  34        35      1          0.61
 NZAC089  38        39      1          0.31
 NZAC090  28        29      1          1.04
 NZAC090  34        35      1          1.04
 NZAC090  36        37      1          18.22
 NZAC090  37        38      1          0.83
 NZAC090  40        41      1          17.96
 NZAC090  41        42      1          0.35
 NZAC091  28        29      1          0.34
 NZAC091  30        31      1          0.33
 NZAC091  31        32      1          0.98
 NZAC091  32        33      1          1.10
 NZAC091  33        34      1          0.53
 NZAC091  35        36      1          0.79
 NZAC092  33        34      1          5.72
 NZAC097  30        31      1          1.62
 NZAC097  31        32      1          0.64
 NZAC097  32        33      1          1.14
 NZAC097  33        34      1          4.36
 NZAC097  34        35      1          10.41
 NZAC097  35        36      1          0.62
 NZAC097  37        38      1          0.41
 NZAC098  27        28      1          0.40
 NZAC098  35        36      1          1.30
 NZAC098  36        37      1          1.80
 NZAC098  38        39      1          0.55
 NZAC098  39        40      1          0.86
 NZAC098  41        42      1          0.76
 NZAC098  42        43      1          0.32
 NZAC099  25        26      1          0.35
 NZAC099  27        28      1          0.34
 NZAC099  33        34      1          1.00
 NZAC099  34        35      1          3.13
 NZAC099  35        36      1          1.13
 NZAC099  36        37      1          0.35
 NZAC099  37        38      1          0.34
 NZAC100  31        32      1          4.74
 NZAC100  32        33      1          3.36
 NZAC100  33        34      1          4.08
 NZAC100  34        35      1          3.34
 NZAC100  35        36      1          3.16
 NZAC100  36        37      1          0.41
 NZAC101  37        38      1          2.29
 NZAC101  38        39      1          0.61
 NZAC101  39        40      1          0.39
 NZAC102  26        27      1          0.38
 NZAC102  29        30      1          0.50
 NZAC102  30        31      1          0.72
 NZAC102  31        32      1          0.47
 NZAC102  32        33      1          0.65
 NZAC102  34        35      1          0.77
 NZAC102  35        36      1          0.54
 NZAC103  30        31      1          0.39
 NZAC103  32        33      1          0.42
 NZAC103  34        35      1          1.04
 NZAC104  34        35      1          0.39
 NZAC104  44        45      1          0.40

 

 

APPENDIX 2: JORC INFORMATION

The following Tables are provided to ensure compliance with the JORC Code
(2012 Edition) requirements for the reporting of Exploration Results at the
Northern Zone Project.

Section 1: Sampling Techniques and Data

(Criteria in this section applies to all succeeding sections)

 

 Criteria                                                 JORC Code explanation                                                            Commentary
 Sampling techniques                                      Nature and quality of sampling (eg cut channels, random chips, or specific       Every metre drilled was placed on the ground.
                                                          specialised industry standard measurement tools appropriate to the minerals

                                                          under investigation, such as down hole gamma sondes, or handheld XRF             6m composites were collected using a scoop method of sampling the coarse
                                                          instruments, etc). These examples should not be taken as limiting the broad      reject sample for the first 24m.
                                                          meaning of sampling.

                                                                                1m sampling using a rifle splitter was trialed on the clays, from 24m, with
                                                          Include reference to measures taken to ensure sample representivity and the      sampling deemed to create a high degree risk of smearing. The clays are not
                                                          appropriate calibration of any measurement tools or systems used.                wet, but have a damp characteristic. A large metal scoop was used to sample

                                                                                between 70-90% of material from each metre drilled, to total between 2-3kg
                                                          Aspects of the determination of mineralisation that are Material to the Public   samples.
                                                          Report.

                                                                                Standard reference material, sample duplicates and blanks, were undertaken at
                                                          In cases where 'industry standard' work has been done this would be relatively   25m sample intervals.
                                                          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    Samples were sent to the laboratory for crushing, splitting and analysis.
                                                          cases, more explanation may be required, such as where there is coarse gold

                                                          that has inherent sampling problems. Unusual commodities or mineralisation       Analysis was undertaken by Jinnings laboratories (Kalgoorlie) for gold assay
                                                          types (eg submarine nodules) may warrant disclosure of detailed information.     by 50g fire assay.

 Drilling techniques                                      Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast,    Australian Aircore Drilling completed the program using a blade to refusal.
                                                          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).
 Drill sample recovery                                    Method of recording and assessing core and chip sample recoveries and results    Drill recovery was routinely recorded via estimation of the comparative
                                                          assessed.                                                                        percentage of the volume of the sample pile by the company geologist.

                                                          Measures taken to maximise sample recovery and ensure representative nature of   The sample recovery was deemed excellent for representative assays, with
                                                          the samples.                                                                     consistent sample recovery and no loss though the top of the cyclone.

                                                          Whether a relationship exists between sample recovery and grade and whether      The cyclone was cleaned or checked every 3m.
                                                          sample bias may have occurred due to preferential loss/gain of fine/coarse

                                                          material.
 Logging                                                  Whether core and chip samples have been geologically and geotechnically logged   All holes have been geologically logged for lithology, mineralisation and
                                                          to a level of detail to support appropriate Mineral Resource estimation,         weathering. As well as whether dry, damp or wet.
                                                          mining studies and metallurgical studies.

                                                                                Logging is quantitative for presence of quartz veins. All other logging is
                                                          Whether logging is qualitative or quantitative in nature. Core (or costean,      qualitative.
                                                          channel, etc) photography.

                                                                                All metre intervals from 24m to end of hole were chip trayed and photographed.
                                                          The total length and percentage of the relevant intersections logged.

                                                                                                                                           A brief description of each drilling sample was recorded and a permanent
                                                                                                                                           record has been collected and stored in chip trays for reference.

 Sub-sampling techniques and sample preparation           If core, whether cut or sawn and whether quarter, half or all core taken.        1m sampling using a rifle splitter was trialed on the clays, from 24m, with

                                                                                sampling deemed to create a high degree risk of smearing. The clays are not
                                                          If non-core, whether riffled, tube sampled, rotary split, etc and whether        wet, but have a damp characteristic. A large metal scoop was used to sample
                                                          sampled wet or dry.                                                              between 70-90% of material from each metre drilled, to total between 2-3kg

                                                                                samples.
                                                          For all sample types, the nature, quality and appropriateness of the sample

                                                          preparation technique.                                                           Standard reference material, sample duplicates and blanks, were undertaken at

                                                                                25m sample intervals.
                                                          Quality control procedures adopted for all sub-sampling stages to maximise

                                                          representivity of samples.                                                       Samples were sent to the laboratory for crushing, splitting and analysis.

                                                          Measures taken to ensure that the sampling is representative of the in-situ      The use of fire assay with 50g charge for all AC drilling provides a level of
                                                          material collected, including for instance results for field                     confidence in the assay database. The sampling and assaying are considered
                                                          duplicate/second-half sampling.                                                  representative of the in-situ material.

                                                          Whether sample sizes are appropriate to the grain size of the material being     The sample size of 2-3 kilograms is appropriate and representative of the
                                                          sampled.                                                                         grain size and mineralisation style of the deposit.

 Quality of assay data and laboratory tests               The nature, quality and appropriateness of the assaying and laboratory           Jinnings (Kalgoorlie) were used for all analysis of drill samples submitted by
                                                          procedures used and whether the technique is considered partial or total.        Riversgold. The laboratory techniques below are for all samples submitted to

                                                                                Jinnings and are considered appropriate for the style of mineralisation
                                                          For geophysical tools, spectrometers, handheld XRF instruments, etc, the         defined within the Northern Zone Project area:
                                                          parameters used in determining the analysis including instrument make and

                                                          model, reading times, calibrations factors applied and their derivation, etc.    Samples above 3Kg were riffle split.

                                                          Nature of quality control procedures adopted (eg standards, blanks,              Pulverise to 95% passing 75 microns
                                                          duplicates, external laboratory checks) and whether acceptable levels of

                                                          accuracy (ie lack of bias) and precision have been established.                  50-gram Fire Assay (FA50A) - Au Duplicates, Standards and Blanks were used for
                                                                                                                                           external laboratory checks by RGL.

 Verification of sampling and assaying                    The verification of significant intersections by either independent or           Intercepts were reviewed by 2 company personnel.
                                                          alternative company personnel.

                                                          The use of twinned holes.

                                                          Documentation of primary data, data entry procedures, data verification, data
                                                          storage (physical and electronic) protocols.

                                                          Discuss any adjustment to assay data.
 Location of data points                                  Accuracy and quality of surveys used to locate drill holes (collar and           The collar position of each hole has been marked out with a Garmin Inreach
                                                          down-hole surveys), trenches, mine workings and other locations used in          Explorer+ hand held GPS, and will be picked up by Spectrum Surveys
                                                          Mineral Resource estimation.                                                     (Kalgoorlie) using a DGPS.

                                                          Specification of the grid system used.

                                                          Quality and adequacy of topographic control.
 Data spacing and distribution                            Data spacing for reporting of Exploration Results.                               The holes were drilled on a nominal Northeast-Southwest 25m spacing on

                                                                                traverses 15-20m apart.
                                                          Whether the data spacing and distribution is sufficient to establish the
                                                          degree of geological and grade continuity appropriate for the Mineral Resource
                                                          and Ore Reserve estimation procedure(s) and classifications applied.

                                                          Whether sample compositing has been applied.
 Orientation of data in relation to geological structure  Whether the orientation of sampling achieves unbiased sampling of possible       The vertical drill holes were designed to test for supergene mineralisation or
                                                          structures and the extent to which this is known, considering the deposit        weathered primary ore zones and are believed to be unbiased based when
                                                          type.                                                                            interpretation is applied at modelling results.

                                                          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.
 Sample security                                          The measures taken to ensure sample security.                                    Company personnel delivered samples to Jinnings Kalgoorlie where they were
                                                                                                                                           submitted for assay.
 Audits or reviews                                        The results of any audits or reviews of sampling techniques and data.            Data reviews will be conducted on completion of further drilling

 

 

 

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      The Northern Zone Project is comprised of one granted prospecting licence
                                                                   material issues with third parties such as joint ventures, partnerships,         (P25/2651) which covers an area of 82 hectares, and is held in the name of
                                                                   overriding royalties, native title interests, historical sites, wilderness or    Oracle Gold (WA) Pty Ltd.
                                                                   national park and environmental settings.

                                                                                RGL are farming into the Tenement and have committed to spend $600,000 in
                                                                   The security of the tenure held at the time of reporting along with any known    exploration expenditure on the tenement within the next two years. After
                                                                   impediments to obtaining a licence to operate in the area.                       Riversgold achieves 80% ownership, Oracle will be required to contribute
                                                                                                                                                    pro-rata or dilute.
 Exploration done by other parties                                 Acknowledgment and appraisal of exploration by other parties.                    The majority of previous exploration in the area was by Northern Mining during
                                                                                                                                                    2007 to 2012 under the Blair North project, multiple small resource areas were
                                                                                                                                                    identified at the George's Reward area to the south of P25/2651. Numerous gold
                                                                                                                                                    intersections were recorded

 Geology                                                           Deposit type, geological setting and style of mineralisation.                    The deposit is thought to be an Intrusion Related Gold System (IRGS) style of
                                                                                                                                                    mineral deposit.

                                                                                                                                                    Further drilling will better define the mineralisation style, and timing of
                                                                                                                                                    the gold mineralisation event.

 Drill hole Information                                            A summary of all information material to the understanding of the exploration    Refer to Tables and Figures within the body of the release.
                                                                   results including a tabulation of the following information for all Material
                                                                   drill holes:

                                                                   easting and northing of the drill hole collar

                                                                   elevation or RL (Reduced Level - elevation above sea level in metres) of the
                                                                   drill hole collar

                                                                   dip and azimuth of the hole

                                                                   down hole length and interception depth

                                                                   hole length.

                                                                   If the exclusion of this information is justified on the basis that the
                                                                   information is not Material and this exclusion does not detract from the
                                                                   understanding of the report, the Competent Person should clearly explain why
                                                                   this is the case.
 Data aggregation methods                                          In reporting Exploration Results, weighting averaging techniques, maximum        Intersections are weighted average grades based on a 0.25 g/t Au cut-off with
                                                                   and/or minimum grade truncations (eg cutting of high grades) and cut-off         unlimited waste zones but with a targeted grade of above 1.5g/t Au.
                                                                   grades are usually Material and should be stated.

                                                                   Where aggregate intercepts incorporate short lengths of high-grade results and
                                                                   longer lengths of low-grade results, the procedure used for such aggregation
                                                                   should be stated and some typical examples of such aggregations should be
                                                                   shown in detail.

                                                                   The assumptions used for any reporting of metal equivalent values should be
                                                                   clearly stated.
 Relationship between mineralisation widths and intercept lengths  These relationships are particularly important in the reporting of Exploration   The diamond drilling program in 2023 confirmed the apparent widths of
                                                                   Results.                                                                         mineralisation as being perpendicular to foliation and veining. We believe the

                                                                                step out RC drilling to be the same as the diamond drilling. The true width of
                                                                   If the geometry of the mineralisation with respect to the drill hole angle is    mineralisation is still to be fully ascertained.
                                                                   known, its nature should be reported.

                                                                                The Aircore drilling was vertical and not designed for true width, but was
                                                                   If it is not known and only the down hole lengths are reported, there should     targeting supergene mineralisation.
                                                                   be a clear statement to this effect (eg 'down hole length, true width not
                                                                   known').
 Diagrams                                                          Appropriate maps and sections (with scales) and tabulations of intercepts        See body of the announcement for relevant diagrams and photos.
                                                                   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    Figure 1 gold contours are based on total gram/metres of gold for each whole
                                                                   appropriate sectional views.                                                     Aircore drillhole, below the transported. Ie 24m to EOH.

 Balanced reporting                                                Where comprehensive reporting of all Exploration Results is not practicable,     The reporting of exploration results is considered balanced by the competent
                                                                   representative reporting of both low and high grades and/or widths should be     person.
                                                                   practiced to avoid misleading reporting of Exploration Results.
 Other substantive exploration data                                Other exploration data, if meaningful and material, should be reported           See body of the announcement.
                                                                   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.
 Further work                                                      The nature and scale of planned further work (eg tests for lateral extensions    Follow up phases of drilling to further test strike to be undertaken.
                                                                   or depth extensions or large-scale step-out drilling).

                                                                                Core from phase 1 to allow for further metallurgical studies.
                                                                   Diagrams clearly highlighting the areas of possible extensions, including the

                                                                   main geological interpretations and future drilling areas, provided this
                                                                   information is not commercially sensitive.

 

 1  BC8 ASX announcement 11 November 2024  "Kal East - 4,100oz Mined &
Counting"

 2  BC8 ASX announcement 11 November 2024  "Kal East - 4,100oz Mined &
Counting"

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