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REG - Thor Energy PLC - 3D Model Shows Alford East Copper Mineralisation

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RNS Number : 7129F  Thor Energy PLC  06 March 2024

6 March 2024

Thor Energy PLC

 

("Thor" or the "Company")

 

New 3D Model Highlights Structural Controls on Copper Mineralisation

Alford East Copper-REE Project, South Australia

 

The directors of Thor Energy PLC ("Thor" or the "Company") (AIM, ASX: THR,
OTCQB: THORF) are pleased to share Thor's updated 3D Geological Model,
incorporating the recently completed Ambient Noise Tomography ("ANT") surveys
by Fleet Space Technologies ("Fleet") for the Alford East Copper - Rare Earth
Element ("REE") Project in South Australia.

Highlights:

§ Fleet's ANT survey results provided valuable insights into the lithological and structural setting of the Alford East Copper oxide and REE Project.
§ Deeply weathered troughs in areas of unaltered metamorphic rocks were found to be associated with zones of faulting, deep oxidation and intrusives at depth.

§ The ANT surveys confirm the significance of the prominent north-northeast
(NNE) structure associated with copper oxide mineralisation (Figure 1).

§ The combined resultant 3D Model provides targeted criteria for extensions
to existing mineralisation and potential for new discoveries of oxide
copper-REE mineralisation.

 

Figure 1: Alford East 3D ANT and Structural Model highlighting the NNE
trending fault zone (red) commonly associated with copper oxide mineralisation
as seen at prospect AE5 to AE8

Nicole Galloway Warland, Managing Director of Thor Energy, commented:

"The 3D ANT Modelling has provided significant lithological and structural
insights into the Alford East Project area. Combining this information with
Thor's dataset has led to an exciting new 3D Model, with a newfound
understanding of the Alford East structural setting and mineralisation
controls. This has provided the Company with a refined targeted strategy,
focusing future drilling on areas with potential high-grade oxide copper-gold
and REE mineralisation.

"The model also provides greater insight into historical, negative drill
results that led to major explorers leaving the area."

 

 

 

Figure 2: 3D ANT model showing low velocity weathered troughs that host oxide
copper mineralisation

 

Next Steps:

1.    Drill preparations and drilling

2.    Pump testing for ISR assessment push-pull work

3.    Continue quarterly groundwater testing

 

3D ANT and Structural Model

After the acquisition of ANT data by Fleet across the northern part of the
Alford East project in 2023 (Figure 6), Thor engaged with the consultant,
Doreen Mikitiuk, DXplorer to review and update the current Alford East
structural model and geological interpretation of the survey areas.

In preparation for the new structural interpretation, historic logging codes
were simplified and grouped using information acquired from reports, core
photos and Hylogger data. Lithology groups were based on the lithogeochemical
assessment of multi-element assays of the 2021 diamond core drillholes and
reassay of selected historic core, which was completed in 2023.

The 3D ANT survey provided clearer understanding of the structural setting of
the Alford East area (Figure 2). With improved knowledge of geology and
weathering through the review of lithological information, the ANT results
mapped localising faults and intrusives at depth. Deeply weathered troughs in
areas of sedimentary rocks were found to be associated with zones of faulting,
deep oxidation and intrusives at depth.

With the newly gained understanding of the geological and structural setting,
targeting criteria for primary copper and oxide mineralisation were developed
providing excellent opportunities for the discovery of new copper and REE
mineralisation, which may have been missed by previous explorers.

Key observations from the 3D Modelling include:

1)         The highest-grade copper oxide mineralisation is commonly
hosted in pelitic and carbonaceous sediments, with faults facilitating deeper
weathering and alteration. For example, MRE Domain Area 6, 7 and 8 (Figure 1,
4 and 5).

2)         Mineralisation in Area 5 is predominantly adjacent to fault
zones within dioritic and/or felsic intrusives and pelitic sediments. Host
rocks are more competent and brittle and may have concentrated oxide
mineralisation to brecciated zones along faults/shears. Lower grade
intersected towards the base of drillholes is found within shears in more
competent diorite.

3)         Psammites seem to be less favourable host rocks for copper
oxide mineralisation.

4)         Mineralised features are subsequently offset by regional
scale east-northeast (ENE) dextral strike slip faults and associated northwest
(NW) trending faults.

5)     Zones of low velocity at shallow depths (approx. 70m) correlate
with pelitic sediments in trough-like structures which are in closely related
to higher velocity intrusives at depth (Figure 4 and 5). These higher
velocities suggest intermediate, rather than felsic composition.

 

 

Figure 3: New 3D ANT and Structural model showing the prominent NNE faults at
depth

 

Figure 4: Cross Section through MRE Domain AE8 highlighting the ANT defined
trough of increased weathering and oxidation hosting copper mineralisation

 

Figure 5: Cross Section through MRE Domain AE8 highlighting controlling NNE
fault and the associated weathered trough hosting oxide copper-REE
mineralisation

ANT Geophysics Surveys:

Two comprehensive ANT surveys were executed at the Alford East Project,
covering the northern portion of the Mineral Resource Estimate Domains (Figure
2 and Figure 6). The surveys were designed to delineate the low-velocity,
weathered 'troughs' that are known to host the oxide copper-gold and REE
mineralisation within the Alford Copper Belt (Figure 5). The oxide copper-gold
and REE mineralisation within the Alford Copper Belt is associated with rocks
that are significantly less dense with lower seismic velocity than the
surrounding fresh units.

The data collected from these two surveys was subject to extensive processing,
leading to the development of a high-resolution 3D seismic velocity model of
the subsurface. This model has revealed key features, such as regions with
lower velocity within a high-velocity basement, inferring a 3D geometry of the
interpreted variably weathered trough and a sheared metasedimentary basement,
which is expected to host mineralisation (Figure 2).

 

 

Figure 6: Alford East Location Map showing the lateral extent of the Alford
Copper Belt (left), and the Alford East Mineral Resource Domains showing the
area for initial ANT Surveys (right)

 

Alford East Project Background:
The Alford East Copper-REE Project is located on EL6529, where Thor holds an 80% interest from unlisted Australian explorer Spencer Metals Pty Ltd, covering portions of EL6255 and EL6529 (Figure 6) (ASX/AIM: 20 November 2020).
The Alford East Project covers the northern extension of the Alford Copper Belt, located on the Yorke Peninsula, South Australia. The Alford Copper Belt is a semi-coherent zone of copper-gold oxide mineralisation, within a structurally controlled, north-south corridor consisting of deeply kaolinised and oxidised troughs within metamorphic units on the edge of the Tickera Granite (Figure 6), Gawler Craton, South Australia.

Thor completed an Inferred Mineral Resource Estimate ("MRE") by utilising
historic drill hole information.

Table C - (ASX/AIM: 27 January 2021):

 

▪              125.6Mt @ 0.14% Cu containing 177,000t of
contained copper

▪              71, 500oz of contained gold

https://thorenergyplc.com/investor-updates/maiden-copper-gold-mineral-resource-estimate-alford-east-copper-gold-isr-project/
(https://thorenergyplc.com/investor-updates/maiden-copper-gold-mineral-resource-estimate-alford-east-copper-gold-isr-project/)

 

Table C: Alford East Mineral Resource Estimate as of 22 January 2021 - Figure
2 (ASX/AIM: 27 January 2021)

 Domain       Tonnes (Mt)  Cu %  Au g/t  Contained Cu (t)  Contained Au (oz)
 AE_1         24.6         0.12  0.021   30,000            16,000
 AE_2         6.8          0.13  0.004   9,000             1,000
 AE_3         34.9         0.09  0.022   33,000            25,000
 AE_4         8.0          0.11  0.016   8,000             4,000
 AE_5         11.0         0.22  0.030   24,000            11,000
 AE-8 (NP)    31.3         0.19  0.008   61,000            8,000
 AE-7 (LW_E)  7.7          0.14  0.025   10,000            6,000
 AE-6 (LW_W)  1.3          0.13  0.011   2,000             500
 Total        125.6        0.14  0.018   177,000           71,500

Note: MRE reported on oxide material only, at a cut-off grade of 0.05% copper
which is consistent with the assumed In-Situ Recovery technique.

REE results were later reported from the 2021 diamond drilling program, with
significant drill intercepts (>500ppm TREO(( 1 ))) including (THR: ASX/AIM
26 April 2023):

o 21AED005:                 36.7m @ 1568ppm (0.16%) TREO &
1.2% Cu from 6.3m,

including        11.8m @ 2095 ppm (0.21%) TREO and 1.2% Cu from 10m,

11m @ 2088ppm (0.21%) TREO and 0.8% Cu from 47m,

including       2m @ 5042ppm (0.5%) TREO from 47m

 

o 21AED002:                 11.6m @ 1699ppm (0.17%) TREO and
0.26% Cu from 30.4m

        including         6.1m @ 2262ppm (0.22%) TREO from 34.0m

 

o 21AED001:    16.8m @ 1721ppm (0.17%) TREO and 0.5% Cu from 91.4m

 

The Board of Thor Energy Plc has approved this announcement and authorised its
release.

For further information, please contact:

 Thor Energy PLC
 Nicole Galloway Warland, Managing Director               Tel: +61 (8) 7324 1935

 Ray Ridge, CFO & Company Secretary                       Tel: +61 (8) 7324 1935

 WH Ireland Limited (Nominated Adviser and Joint Broker)  Tel: +44 (0) 207 220 1666
 Antonio Bossi / Darshan Patel / Isaac Hooper

 SI Capital Limited (Joint Broker)                        Tel: +44 (0) 1483 413 500
 Nick Emerson

 Yellow Jersey (Financial PR)                             thor@yellowjerseypr.com
 Sarah Hollins / Shivantha Thambirajah / Bessie Elliot    Tel: +44 (0) 20 3004 9512

Competent Person's Report

The information in this report that relates to exploration results is based on
information compiled by Nicole Galloway Warland, who holds a BSc Applied
geology (HONS) and who is a Member of The Australian Institute of
Geoscientists. Ms Galloway Warland is an employee of Thor Energy PLC. She has
sufficient experience which is relevant to the style of mineralisation and
type of deposit under consideration and to the activity which she is
undertaking to qualify as a Competent Person as defined in the 2012 Edition of
the 'Australasian Code for Reporting of Exploration Results, Mineral Resources
and Ore Reserves'. Nicole Galloway Warland consents to the inclusion in the
report of the matters based on her information in the form and context in
which it appears.

 

Updates on the Company's activities are regularly posted on Thor's website
(https://thorenergyplc.com/) which includes a facility to register to receive
these updates by email, and on the Company's X page @thorenergyplc

 

About Thor Energy Plc

The Company is focused on uranium and energy metals that are crucial in the
shift to a 'green' energy economy. Thor has a number of highly prospective
projects that give shareholders exposure to uranium, nickel, copper, lithium
and gold. Our projects are located in Australia and the USA.

Thor holds 100% interest in three uranium and vanadium projects (Wedding Bell,
Radium Mountain and Vanadium King) in the Uravan Belt in Colorado and Utah,
USA with historical high-grade uranium and vanadium drilling and production
results.

At Alford East in South Australia, Thor has earnt an 80% interest in oxide
copper deposits considered amenable to extraction via In Situ Recovery
techniques (ISR). In January 2021, Thor announced an Inferred Mineral Resource
Estimate¹.

Thor also holds a 26.3% interest in Australian copper development company
EnviroCopper Limited (ECL), which in turn holds rights to earn up to a 75%
interest in the mineral rights and claims over the resource on the portion of
the historic Kapunda copper mine and the Alford West copper project, both
situated in South Australia, and both considered amenable to recovery by way
of ISR.²³ Alligator Energy recently invested A$0.9M for a 7.8% interest in
ECL with the rights to gain a 50.1% interest by investing a further A$10.1m
over four years.

Thor holds 100% of the advanced Molyhil tungsten project, including measured,
indicated and inferred resources⁴, in the Northern Territory of Australia,
which was awarded Major Project Status by the Northern Territory government in
July 2020. Thor executed a A$8m Farm-in and Funding Agreement with
Investigator Resources Limited (ASX: IVR) to accelerate exploration at the
Molyhil Project on 24 November 2022.(6)

Adjacent to Molyhil, at Bonya, Thor holds a 40% interest in deposits of
tungsten, copper, and vanadium, including Inferred resource estimates for the
Bonya copper deposit, and the White Violet and Samarkand tungsten deposits.
⁵ Thor's interest in the Bonya tenement EL29701 is planned to be divested as
part of the Farm-in and Funding agreement with Investigator Resources
Limited.(6)

Thor owns 100% of the Ragged Range Project, comprising 92 km(2) of exploration
licences with highly encouraging early-stage gold and nickel results in the
Pilbara region of Western Australia.

 

Notes

(1)
https://thorenergyplc.com/investor-updates/maiden-copper-gold-mineral-resource-estimate-alford-east-copper-gold-isr-project/

(2)
www.thorenergyplc.com/sites/thormining/media/pdf/asx-announcements/20172018/20180222-clarification-kapunda-copper-resource-estimate.pdf
(http://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20172018/20180222-clarification-kapunda-copper-resource-estimate.pdf)

³
www.thorenergyplc.com/sites/thormining/media/aim-report/20190815-initial-copper-resource-estimate---moonta-project---rns---london-stock-exchange.pdf
(http://www.thormining.com/sites/thormining/media/aim-report/20190815-initial-copper-resource-estimate---moonta-project---rns---london-stock-exchange.pdf)

(4)
https://thorenergyplc.com/investor-updates/molyhil-project-mineral-resource-estimate-updated/

(5)
www.thorenergyplc.com/sites/thormining/media/pdf/asx-announcements/20200129-mineral-resource-estimates---bonya-tungsten--copper.pdf
(http://www.thormining.com/sites/thormining/media/pdf/asx-announcements/20200129-mineral-resource-estimates---bonya-tungsten--copper.pdf)

(6)
https://thorenergyplc.com/wp-content/uploads/2022/11/20221124-8M-Farm-in-Funding-Agreement.pdf

About Fleet Space Technologies

Fleet Space Technologies (https://fleetspace.com/) , a leading Australian
space company with a mission to connect Earth, Moon, and Mars, is
revolutionising the mineral exploration, defence, and space exploration
sectors through its ground-breaking products and connectivity solutions.
Headquartered at a state-of-the-art facility in Adelaide, South Australia,
Fleet has rapidly grown to over 100 employees and boasts a global presence,
including a team in the US and offices in Canada, Luxembourg, and Chile.

Fleet created EXOSPHERE BY FLEET(®), a solution for the mineral exploration
industry providing lightning fast, 3D mapping of underground structures and
providing increased accuracy in drilling targets. This cutting-edge technology
is helping the world transition to clean-air mobility technologies by creating
a faster, more sustainable, and less expensive route to finding critical
mineral deposits. EXOSPHERE BY FLEET® is an end-to-end service offered to
mineral exploration customers to decrease the time it takes to find a deposit.
Fleet's sensors, the Geodes, are deployed in a survey area and leverage
real-time passive seismic methods to 'scan' the subsurface. This is enabled
through non-invasive Ambient Noise Tomography (ANT) which listens to seismic
waves present on Earth. The data is rapidly processed and transmitted through
Fleet's low power satellite network to create a 3D model of the area in near
real time.

Since launching EXOSPHERE, Fleet Space has signed contracts with over 30
clients around the world including players such as Rio Tinto, Barrick Gold and
Core Lithium. Fleet has conducted more than 150 ANT surveys on different
commodity types and completed deployments in 5 continents.   EXOSPHERE BY
FLEET® is contributing to solve the pressing global priority to decarbonise
mobility and find more than $13trillion USD worth of minerals required for the
energy transition to help meet global net zero priorities.

Contact:

Wes Carlson, Senior Communications Manager

Fleet Space Technologies

wesley.carlson@fleet.space

+1-415-521-9516

 

1.  2012 Edition - Table 1 report template

1.1        Section 1 Sampling Techniques and Data

 

 Criteria                                                                JORC Code explanation                                                                                                      Commentary
 Sampling techniques                                                     ·    Nature and quality of sampling (eg cut channels, random chips, or                                                     No new drilling or surface sampling in this release.
                                                                         specific specialised industry standard measurement tools appropriate to the

                                                                         minerals under investigation, such as down hole gamma sondes, or handheld XRF                                              · THR is reporting the results of an ambient noise tomography survey
                                                                         instruments, etc). These examples should not be taken as limiting the broad                                                conducted by Thor Energy Plc  and Fleet Space Technologies which commenced on
                                                                         meaning of sampling.                                                                                                       the 28 Sep 2023 and finished on the 17 Oct 2023.

                                                                         ·    Include reference to measures taken to ensure sample representivity                                                   · The Ambient Noise Tomography data was acquired using 96 Fleet Space
                                                                         and the appropriate calibration of any measurement tools or systems used.                                                  Technology Geodes.

                                                                         ·    Aspects of the determination of mineralisation that are Material to                                                   · The Geode specifications are as follows:
                                                                         the Public Report.
- 1-component (vertical) 2Hz geophones

                                                                         ·    In cases where 'industry standard' work has been done this would be                                                   - Sensitivity: 260 V/m/s
                                                                         relatively simple (eg 'reverse circulation drilling was used to obtain 1 m

                                                                         samples from which 3 kg was pulverised to produce a 30 g charge for fire                                                   - Sampling rate: 20Hz
                                                                         assay'). In other cases more explanation may be required, such as where there

                                                                         is coarse gold that has inherent sampling problems. Unusual commodities or                                                 - Recording mode: continuous
                                                                         mineralisation types (eg submarine nodules) may warrant disclosure of detailed

                                                                         information.                                                                                                               - Preamplifier gain: 32 (linear)
 Drilling techniques                                                     ·    Drill type (eg core, reverse circulation, open-hole hammer, rotary                                                    Not applicable -
                                                                         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,                                                    No drilling reported
                                                                         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                                                 Not applicable-
                                                                         results assessed.

                                                                                                                          No drilling reported
                                                                         ·    Measures taken to maximise sample recovery and ensure representative
                                                                         nature of the samples.

                                                                         ·    Whether a relationship exists between sample recovery and grade and
                                                                         whether sample bias may have occurred due to preferential loss/gain of
                                                                         fine/coarse material.
 Logging                                                                 ·    Whether core and chip samples have been geologically and                                                              Not applicable-
                                                                         geotechnically logged to a level of detail to support appropriate Mineral

                                                                         Resource estimation, mining studies and metallurgical studies.                                                             No drilling reported

                                                                         ·    Whether logging is qualitative or quantitative in nature. Core (or
                                                                         costean, channel, etc) photography.

                                                                         ·    The total length and percentage of the relevant intersections logged.
 Sub- sampling techniques and sample preparation                         ·    If core, whether cut or sawn and whether quarter, half or all core                                                    Not applicable-
                                                                         taken.

                                                                                                                          No drilling reported
                                                                         ·    If non-core, whether riffled, tube sampled, rotary split, etc and
                                                                         whether sampled wet or dry.

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

                                                                         ·    Quality control procedures adopted for all sub-sampling stages to
                                                                         maximise representivity of samples.

                                                                         ·    Measures taken to ensure that the sampling is representative of the
                                                                         in situ material collected, including for instance results for field
                                                                         duplicate/second-half sampling.

                                                                         ·    Whether sample sizes are appropriate to the grain size of the
                                                                         material being sampled.
 Criteria                                                                JORC Code explanation                                                                                                      Commentary
 Quality of assay data and laboratory tests                              ·    The nature, quality and appropriateness of the assaying and                                                           No drilling reported.
                                                                         laboratory procedures used and whether the technique is considered partial or

                                                                         total.                                                                                                                     Fleet Space Technologies conducted the ANT survey.

                                                                         ·    For geophysical tools, spectrometers, handheld XRF instruments, etc,                                                  · The ANT data was acquired using 96 Fleet Space Technology Geodes
                                                                         the parameters used in determining the analysis including instrument make and

                                                                         model, reading times, calibrations factors applied and their derivation, etc.                                              · The Geode specifications are as follows:

- 1-component (vertical) 2Hz geophones
                                                                         ·    Nature of quality control procedures adopted (eg standards, blanks,

                                                                         duplicates, external laboratory checks) and whether acceptable levels of                                                   - Sensitivity: 260 V/m/s
                                                                         accuracy (ie lack of bias) and precision have been established.

                                                                                                                                                                                                    - Sampling rate: 20Hz

                                                                                                                                                                                                    - Recording mode: continuous

                                                                                                                                                                                                    - Preamplifier gain: 32 (linear)
 Verification of sampling and assaying                                   ·    The verification of significant intersections by either independent                                                   ANT - Data and model received is preliminary in nature and is being reviewed
                                                                         or alternative company personnel.                                                                                          by Fleet Space Technologies.

                                                                         ·    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                                                    No drilling reported
                                                                         and down-hole surveys), trenches, mine workings and other locations used in

                                                                         Mineral Resource estimation.                                                                                               § ANT - Data using a handheld GPS

                                                                         ·    Specification of the grid system used.                                                                                § GDA94 Zone 53.

                                                                         ·    Quality and adequacy of topographic control.
 Data spacing and distribution                                           ·    Data spacing for reporting of Exploration Results.                                                                    ANT line spacing which is approximately 150 m and 130 m in the two surveys is

                                                                                                                          appropriate for exploration purposes
                                                                         ·    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                                                     ANT grid covers the roughly East-West trending weathered zone.
                                                                         possible structures and the extent to which this is known, considering the
                                                                         deposit type.

                                                                         ·    If the relationship between the drilling orientation and the
                                                                         orientation of key mineralised structures is considered to have introduced a
                                                                         sampling bias, this should be assessed and reported if material.
 Sample security                                                         ·    The measures taken to ensure sample security.                                                                         No sampling reported
 Audits or reviews    ·    The results of any audits or reviews of sampling techniques and data.                                                                                                    None undertaken

 Criteria                                                                                                          JORC Code explanation                                                            Commentary
 Mineral tenement and land tenure status                                                                           ·    Type, reference name/number, location and ownership including               Exploration results are reported on EL 6529 in South Australia held 100% by
                                                                                                                   agreements or material issues with third parties such as joint ventures,         spencer Metals Pty ltd.
                                                                                                                   partnerships, overriding royalties, native title interests, historical sites,

                                                                                                                   wilderness or national park and environmental settings.                          Thor holds 80 % interest in the Alford East Project

                                                                                                                   ·    The security of the tenure held at the time of reporting along with         The tenement is secure under SA legislation and is in good standing.
                                                                                                                   any known impediments to obtaining a licence to operate in the area.
 Exploration done by other parties                                                                                 ·    Acknowledgment and appraisal of exploration by other parties.
 Geology                                                                                                           ·    Deposit type, geological setting and style of mineralisation.               Primary deposits in the region are considered to be of Iron Oxide Copper Gold
                                                                                                                                                                                                    (IOCG) affinity, related to the 1590Ma Hiltaba/GRV event. Cu-Au-Mo-Pb
                                                                                                                                                                                                    mineralisation is structurally controlled and associated with significant
                                                                                                                                                                                                    metasomatic alteration and deep weathering or kaolinisation of host rocks.
 Drill hole Information                                                                                            ·    A summary of all information material to the understanding of the           No drilling has been undertaken or reported
                                                                                                                   exploration results including a tabulation of the following information for
                                                                                                                   all Material drill holes:

                                                                                                                   o  easting and northing of the drill hole collar

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

                                                                                                                   o  dip and azimuth of the hole

                                                                                                                   o  down hole length and interception depth

                                                                                                                   o  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 aggregate n methods                                                                                          ·    In reporting Exploration Results, weighting averaging techniques,           Only field observations have been reported. There has been no data
                                                                                                                   maximum and/or minimum grade truncations (eg cutting of high grades) and         aggregation.
                                                                                                                   cut-off grades are usually Material and should be stated.

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

                                                                                                                   ·    The assumptions used for any reporting of metal equivalent values
                                                                                                                   should be clearly stated
 Relationship between mineralisaton widths and intercept lengths                                                   ·    These relationships are particularly important in the reporting of          No drilling has been undertaken or reported
                                                                                                                   Exploration Results.

                                                                                                                   ·    If the geometry of the mineralisation with respect to the drill hole
                                                                                                                   angle is known, its nature should be reported.

                                                                                                                   ·    If it is not known and only the down hole lengths are reported, there
                                                                                                                   should be a clear statement to this effect (eg 'down hole length, true width
                                                                                                                   not known').
 Diagrams                                                                                                          ·    Appropriate maps and sections (with scales) and tabulations of              See body of report
                                                                                                                   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.
 Balanced reporting                         ·    Where comprehensive reporting of all Exploration Results is not                                                                                    ANT data is reported for Alford East.
                                            practicable, representative reporting of both low and high grades and/or
                                            widths should be practiced to avoid misleading reporting of Exploration
                                            Results.
 Other substantive exploration data         ·    Other exploration data, if meaningful and material, should be                                                                                      All data have been reported
                                            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.
 Further work                               ·    The nature and scale of planned further work (eg tests for lateral                                                                                 It is anticipated that the weathered zone identified from the ANT survey will
                                            extensions or depth extensions or large-scale step- out drilling).                                                                                      be drill tested to evaluate hydrogeological parameters.

                                            ·    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  TREO = (Total Rare Earth Oxides) = (La(2)O(3) + CeO(2) + Pr(6)O(11) +
Nd(2)O(3) +Sm(2)O(3) + Eu(2)O(3) + Gd(2)O(3) + Tb(4)O(7) + Dy(2)O(3) +
Ho(2)O(3) + Er(2)O(3) + Tm(2)O(3) + Yb(2)O(3) + Lu(2)O(3) + Y(2)O(3))

 

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