COPPER-GOLD RESOURCE ACQUISITION

Transcription

1 ASX Announcement 5 April 2017 COPPER-GOLD RESOURCE ACQUISITION HIGHLIGHTS RNI acquires the Chunderloo Gold Project from Westgold Resources Limited (ASX: WGX) Chunderloo is highly prospective for copper-gold mineralisation and contains a non-jorc compliant resource of 5.4g/t Au and 1.6% Cu (Chunderloo Prospect M51/79) Mineralisation at Chunderloo is open down-plunge and a key objective is to extend the known resource while carrying out metallurgical test work Exploration planning will commence immediately RNI NL (ASX:RNI) (to be renamed Auris Minerals Limited) has added a known copper-gold resource to its exploration portfolio with the acquisition of the Chunderloo Mining tenements (M51/79, M51/638 and M51/639) from WGX s Central Murchison Gold Project (CMGP) (Figure 1). Total consideration for the acquisition is 5 million RNI shares and the agreement also results in the removal of the WGX Right of First Refusal (previously held by Metals X Limited) across RNI tenements in the Bryah Basin. The mining tenements that form the Chunderloo Gold Project are positioned 19km south/west of Meekatharra and 5km west of the Bluebird Gold Processing Plant and comprise km 2 of highly prospective VMS tenure (Figure 1) which currently holds a non-jorc compliant copper-gold resource of 5.4g/t Au and 1.6% Cu (Chunderloo Prospect - M51/79). This mineralisation contains significant intercepts of copper (8 7.41%), gold ( g/t) and silver ( g/t) and is currently open at depth, down-plunge (Figures 3 & 4). RNI believes the strategic acquisition of a known resource strengthens and compliments the Company s highly-strategic Bryah Basin asset portfolio. RNI Executive Director, Debbie Fullarton said This is a very good opportunity for us to cost-effectively add a highly prospective project that sits very well alongside the Bryah Basin portfolio. We will able to move quickly to add value to this project by following up and expanding on the historical work that has already been undertaken. Unit 3, 703 Murray Street, West Perth, Western Australia 6005 PO Box 298 West Perth WA 6872 T E: general@rninl.com.au W: rninl.com.au

2 Page 2 During the acquisition process of the Chunderloo Tenements, RNI has systematically reviewed all available data and believes that there is significant potential in developing an economic JORC compliant copper-goldsilver resource. This is based on the following parameters: A geochemical review of the historic drilling by Dr Nigel Brand has deemed that a large proportion of the RAB drilling across the tenement was poorly sampled and thus deemed ineffective. There are 185 drill holes >10m with an average depth of 39m (maximum of 119m) suggesting that the area is poorly explored. There has not been a full suite of pathfinder elements or alteration studies completed on the drilling at Chunderloo. There are limited base datasets from the Chunderloo area. This includes a lack of detailed mapping and ground geophysical survey information. Given the advances in technology and the fact that the historic IP survey identified known copper-gold mineralisation, RNI believes that this is the best tool in identifying mineralisation at depth and to advance the current resource. Metallurgical test work completed by Aquarius Exploration in 1993 determined that conventional gold processing techniques (CIP) was ineffective in recovering the gold given the large amount of copper in the system. Given the description of past drilling, RNI believes that the material should be amenable to flotation, providing the flotation concentrate is treated as a copper ore and a premium recovered for contained precious metal. The Chunderloo Mining Tenements are positioned 19km south/west of Meekatharra and 5km west of the Bluebird Gold Processing Plant (Figure 1). Figure 1: The Chunderloo Mining Tenements in relation to the Bluebird Mill and actively mined gold deposits within (Westgold Resources Ltd s CMGP)

3 Page 3 Historic exploration over this project area was heavily focused on the shallow open pit gold potential given the close proximity to the Bluebird Mill. Metallurgical test work completed by Aquarius Exploration in 1993 determined that using conventional gold processing techniques (CIP) was ineffective in recovering the gold, given the large amount of copper in the system. RNI believes that the material should be amenable to flotation, based on the description of historic drilling, provided the flotation concentrate is treated as a copper ore and a premium is recovered for the contained precious metal. The first step for RNI is to extend the known resource at Chunderloo down-plunge, while testing the Chunderloo North prospect at depth (Figures 2 & 5). Given the style of mineralisation a 3D dipole-dipole IP survey will be carried out across both prospects to aid targeting. Planning for this geophysical survey is currently underway. Prior to the discovery of the Golden Grove VMS copper deposits, Chunderloo historically was the third largest copper producer in the Murchison. The Chunderloo area (M51/79) contains two significant groups of workings, the southern workings (Chunderloo South Prospect) exploited copper in the oxide and transitional zones while the northern group of workings (Chunderloo Prospect) are the most significant with more than 7 shafts and two small open pits exploiting copper in the oxide zone. The Department of Mines and Petroleum records accounts for production from Chunderloo of 980 tonnes of ore grading 27.63g/t gold and 2.72% copper. This mineralisation is located within a band of amphibolite adjacent to the western margins of the greenstone belt. In more recent times, Aquarius Exploration in conjunction with Endeavour Resources explored the Chunderloo tenements (Figure 2) between 1985 and 1994 drilling a total of 135 RC holes (average depth of 39 metres), 1 diamond hole (69.7 metres) and 760 RAB holes (average depth of 3 metres) (Appendix 1 Table 1). The RC samples were mainly analysed for copper and gold with only 17 RC holes being analysed for silver. Figure 2: The Chunderloo Mining Tenement M51/79 in relation to known copper-gold mineralisation from historic drilling and underlying geology.

4 Page 4 The results from the drilling in and around the Chunderloo Prospect indicated that high grade copper is associated with high grade gold (5 70g/t) and where assayed high grade silver (5-30g/t). The best intersections from the RC drilling include % Cu, g/t Au and g/t Ag. A full table of results can be found in Appendix 2, Table 1). High grade Cu-Au +/- Ag mineralisation from the Chunderloo Prospect is evident as a shallow north-easterly plunging shoot within a lower grade halo (Figures 3 & 4). Figure 3: Significant copper intercepts from historic drilling at the Chunderloo Prospect. Mineralisation is plunging to the north east and is open at depth. Non-JORC compliant resource of 1.6% Cu. Figure 4: Significant gold intercepts from historic drilling at the Chunderloo Prospect. Mineralisation is plunging to the north east and is open at depth. A Non-JORC compliant resource of 5.4g/t.

5 Page 5 A resultant measured non-jorc compliant resource was calculated by Mercator Metals Pty Ltd (commissioned on behalf of Aquarius Exploration) to be 5.4g/t Au and 1.6% Cu using a 15g/t Au top cut and an SG value of 2.7g/cm3. The results used in this resource calculation can be found in Appendix 3 Table 1. The silver content of the resource is unknown due to the lack of assay data. In 1986, Endeavour Resources commissioned Scintrex Pty Ltd to conduct a series of IP geophysical surveys over the Chunderloo area. The results from this survey found that the IP response correlated well with the known mineralisation at Chunderloo and a separate anomaly to the north could be seen in the data. This northern anomaly (Chunderloo North) was drilled with shallow RC by Mercator Gold Australia Pty Ltd in 2008 (Figure 2) and returned anomalous gold (>0.5g/t) and copper (>0.1%). Anomalous assay results from this drilling can be found in Appendix 2 Table 2 (silver was not analysed). Figure 5: Coherent copper (>0.1%) and gold (>0.5g/t Au) from the Chunderloo and Chunderloo North Prospects (IP survey area) For and on behalf of the Board. DEBBIE FULLARTON EXECUTIVE DIRECTOR

6 Page 6 ABOUT RNI NL RNI NL is exploring for high-grade VMS copper-gold discoveries in Western Australia s highly-prospective Bryah Basin region and recently acquired Chunderloo area. RNI has consolidated a 1,433km 2 copper-gold exploration portfolio in the Bryah Basin divided into five welldefined project areas Forrest, Doolgunna, Morck s Well, Cashmans and Horseshoe Well. The Company s exploration focus is on VMS horizons identified at the Forrest-Wodger-Big Billy trend, the Cuba and Orient- T10 prospects RNI s recent Chunderloo Mining Tenement acquisition consists of three mining leases that account for km 2 of highly prospective VMS tenure which currently holds a non-jorc compliant copper-gold resource of 5.4g/t Au and 1.6% Cu at the Chunderloo Project. RNI s tenements (Figure 6) are held as follows: i. RNI 80%; Fe Ltd 20% (Fe Ltd (ASX:FEL) interest is free carried until a Decision to Mine) ii. Westgold Resources Ltd (ASX:WGX) own the gold rights over the RNI interest. iii. Omni Projects Tenements RNI has an 85% beneficial interest in these tenements iv. Omni Projects JV RNI is earning an 85% interest in this tenement v. Northern Star Resources JV RNI is earning a 70% interest in these tenements Figure 6: RNI's copper-gold exploration and mining portfolio with highly prospective target locations

7 Page 7 Competent Person s Statement Information in this announcement that relates to exploration results is based on and fairly represents information and supporting documentation prepared and compiled by Richard Pugh BSc (Hons) who is a Member of the Australasian Institute of Mining and Metallurgy. The information in this announcement that relates to previously released exploration was first disclosed under the JORC Code It has not been updated to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported and is based on and fairly represents information and supporting documentation prepared and compiled by Richard Pugh BSc (Hons) who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Pugh is Exploration Manager for RNI NL. Mr Pugh has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which 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. Mr Pugh consents to the inclusion in the announcement of the matters based on this information in the form and context in which it appears. No New Information Except where explicitly stated, this announcement contains references to prior exploration results and Mineral Resource estimates, 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 and, in the case of estimates of Mineral Resources that all material assumptions and technical parameters underpinning the results and/or estimates in the relevant market announcement continue to apply and have not materially changed. Forward-Looking Statements This announcement has been prepared by RNI NL. This document contains background information about RNI NL and its related entities current at the date of this announcement. This is in summary form and does not purport to be all inclusive or complete. Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this announcement. This announcement is for information purposes only. Neither this document nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction. This announcement may not be distributed in any jurisdiction except in accordance with the legal requirements applicable in such jurisdiction. Recipients should inform themselves of the restrictions that apply in their own jurisdiction. A failure to do so may result in a violation of securities laws in such jurisdiction. This document does not constitute investment advice and has been prepared without taking into account the recipient s investment objectives, financial circumstances or particular needs and the opinions and recommendations in this representation are not intended to represent recommendations of particular investments to particular investments to particular persons. Recipients should seek professional advice when deciding if an investment is appropriate. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments. No responsibility for any errors or omissions from this document arising out of negligence or otherwise is accepted. This document does include forward-looking statements. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of RNI NL. Actual values, results, outcomes or events may be materially different to those expressed or implied in this announcement. Given these uncertainties, recipients are cautioned not to place reliance on forward-looking statements. Any forward-looking statements in this announcement speak only at the date of issue of this announcement. Subject to any continuing obligations under applicable law and ASX Listing Rules, RNI NL does not undertake any obligation to update or revise any information or any of the forward-looking statements in this document or any changes in events, conditions or circumstances on which any such forward-looking statement is based.

8 Page 8 Appendix 1 Historic Chunderloo and Chunderloo North Drill Collars Table 1: Drillhole Information Summary Prospect Hole_ID Hole MGA94_50 EOH Dip Azimuth Type East North RL Depth Chunderloo DHC1 DDH Chunderloo 08CHRC001 RC Chunderloo 08CHRC002 RC Chunderloo 11CHRC001 RC Chunderloo 11CHRC002 RC Chunderloo 11CHRC019 RC Chunderloo 11CHRC020 RC Chunderloo 15CHRC001 RC Chunderloo 15CHRC002 RC Chunderloo 15CHRC003 RC Chunderloo 15CHRC004 RC Chunderloo 15CHRC005 RC Chunderloo 15CHRC006 RC Chunderloo 15CHRC007 RC Chunderloo PDH-C01 RC Chunderloo PDH-C02 RC Chunderloo PDH-C03 RC Chunderloo PDH-C04 RC Chunderloo PDH-C05 RC Chunderloo PDH-C06 RC Chunderloo PDH-C07 RC Chunderloo PDH-C08 RC Chunderloo PDH-C09 RC Chunderloo PDH-C10 RC Chunderloo PDH-C11 RC Chunderloo PDH-C12 RC Chunderloo PDH-C13 RC Chunderloo PDH-C14 RC Chunderloo PDH-C15 RC Chunderloo PDH-C16 RC Chunderloo PDH-C17 RC Chunderloo PHC001 RC Chunderloo PHC002 RC Chunderloo PHC003 RC Chunderloo PHC004 RC Chunderloo PHC005 RC Chunderloo PHC006 RC Chunderloo PHC007 RC Chunderloo PHC008 RC

9 Page 9 Prospect Hole_ID Hole MGA94_50 EOH Dip Azimuth Type East North RL Depth Chunderloo PHC009 RC Chunderloo PHC010 RC Chunderloo PHC011 RC Chunderloo PHC012 RC Chunderloo PHC013 RC Chunderloo PHC014 RC Chunderloo PHC015 RC Chunderloo PHC016 RC Chunderloo PHC017 RC Chunderloo PHC018 RC Chunderloo PHC019 RC Chunderloo PHC020 RC Chunderloo PHC021 RC Chunderloo PHC022 RC Chunderloo PHC023 RC Chunderloo PHC024 RC Chunderloo PHC025 RC Chunderloo PHC026 RC Chunderloo PHC027 RC Chunderloo PHC028 RC Chunderloo PHC029 RC Chunderloo PHC030 RC Chunderloo PHC031 RC Chunderloo PHC032 RC Chunderloo PHC033 RC Chunderloo PHC034 RC Chunderloo PHC035 RC Chunderloo PHC036 RC Chunderloo PHC037 RC Chunderloo PHC038 RC Chunderloo PHC039 RC Chunderloo PHC040 RC Chunderloo PHC041 RC Chunderloo PHC042 RC Chunderloo PHC043 RC Chunderloo PHC044 RC Chunderloo PHC045 RC Chunderloo PHC046 RC Chunderloo PHC047 RC Chunderloo PHC048 RC Chunderloo PHC049 RC Chunderloo PHC050 RC

10 Page 10 Prospect Hole_ID Hole MGA94_50 EOH Dip Azimuth Type East North RL Depth Chunderloo PHC051 RC Chunderloo PHC052 RC Chunderloo PHC053 RC Chunderloo PHC054 RC Chunderloo PHC055 RC Chunderloo PHC056 RC Chunderloo PHC057 RC Chunderloo PHC058 RC Chunderloo PHC059 RC Chunderloo PHC060 RC Chunderloo PHC061 RC Chunderloo PHC062 RC Chunderloo PHC063 RC Chunderloo PHC064 RC Chunderloo PHC065 RC Chunderloo PHC066 RC Chunderloo PHC067 RC Chunderloo PHC068 RC Chunderloo PHC069 RC Chunderloo PHC070 RC Chunderloo PHC071 RC Chunderloo PHC072 RC Chunderloo PHC073 RC Chunderloo PHC074 RC Chunderloo PHC075 RC Chunderloo PHC076 RC Chunderloo PHC077 RC Chunderloo PHC097 RC Chunderloo PHC098 RC Chunderloo PHC099 RC Chunderloo PHC100 RC Chunderloo PHC101 RC Chunderloo PHC102 RC Chunderloo PHC103 RC Chunderloo PHC104 RC Chunderloo PHC105 RC Chunderloo PHC106 RC Chunderloo PHC107 RC Chunderloo PHC108 RC Chunderloo PHC109 RC Chunderloo PHC110 RC Chunderloo PHC111 RC

11 Page 11 Prospect Hole_ID Hole MGA94_50 EOH Dip Azimuth Type East North RL Depth Chunderloo PHC112 RC Chunderloo PHC113 RC Chunderloo PHC114 RC Chunderloo PHC115 RC Chunderloo PHC116 RC Chunderloo PHC117 RC Chunderloo PHC118 RC Chunderloo North 08CHRC003 RC Chunderloo North 08CHRC004 RC Chunderloo North PHC078 RC Chunderloo North PHC079 RC Chunderloo North PHC080 RC Chunderloo North PHC081 RC Chunderloo North PHC082 RC Chunderloo North PHC083 RC Chunderloo North PHC084 RC Chunderloo North PHC085 RC Chunderloo North PHC086 RC Chunderloo North PHC087 RC Chunderloo North PHC088 RC Chunderloo North PHC089 RC Chunderloo North PHC090 RC Chunderloo North PHC091 RC Chunderloo North PHC092 RC Chunderloo North PHC093 RC Chunderloo North PHC094 RC Chunderloo North PHC095 RC Chunderloo North PHC096 RC

12 Page 12 Hole ID Element Value Appendix 2 M51/79 Historic RC and DDH Drill Assay Results Table 1: Chunderloo Prospect Results Depth (m) From To Intercept (m) Result Intercept Summary Cu % % Cu from 44 metres DHC1 Au g/t g/t Au from 45 metres Cu % % Cu from 26 metres 08CHRC001 Au g/t g/t Au from 26 metres Ag g/t g/t Ag from 26 metres Cu % % Cu from 60 metres 08CHRC002 Au g/t g/t Au from 60 metres Ag g/t g/t Ag from 60 metres Cu % % Cu from 56 metres Including % Cu 11CHRC001 Au g/t g/t Au from 56 metres Ag g/t g/t Ag from 56 metres Cu % % Cu from 64 metres Including % Cu % Cu from 72 metres Au g/t g/t Au from 27 metres g/t Au from 58 metres 11CHRC g/t Au from 64 metres Ag g/t g/t Ag from 17 metres g/t Ag from 27 metres g/t Ag from 34 metres g/t Ag from 65 metres g/t Ag from 73 metres 11CHRC019 Au g/t NSR Ag g/t NSR Cu % % Cu from 88 metres 11CHRC020 Au g/t g/t Au from 88 metres Ag g/t g/t Ag from 39 metres g/t Ag from 88 metres Cu % % Cu from 40 metres 15CHRC001 Au g/t NSR Ag g/t NSR Cu % % Cu from surface % Cu from 53 metres % Cu from 57 metres 15CHRC002 Au g/t g/t Au from surface g/t Au from 53 metres g/t Au from 57 metres Ag g/t g/t Ag from 28 metres g/t Ag from 54 metres g/t Ag from 61 metres

13 Page 13 Hole ID Element Value Depth (m) From To Intercept (m) Result Intercept Summary Cu % % Cu from 45 metres 15CHRC003 Au g/t g/t Au from 45 metres Ag g/t g/t Ag from 48 metres Cu % % Cu from 60 metres % Cu from 66 metres 15CHRC004 Au g/t g/t Au from 68 metres Ag g/t g/t Ag from 68 metres Cu % % Cu from 32 metres % Cu from 76 metres 15CHRC005 Au g/t g/t Au from 32 metres g/t Au from 76 metres Ag g/t NSR Cu % % Cu from 64 metres 15CHRC % Cu from 76 metres Au g/t NSR Ag g/t NSR Cu % % Cu from 32 metres % Cu from 44 metres 15CHRC % Cu from 84 metres Au g/t g/t Au from 45 metres PDH-C g/t Au from 84 metres Ag g/t NSR Cu % % Cu from 17 metres Au g/t g/t Au from 17 metres including 1 95g/t Au Ag g/t g/t Ag from 18 metres Cu % % Cu from 20 metres PDH-C02 Au g/t g/t Au from 20 metres Ag g/t NSR Cu % % Cu from 30 metres PDH-C03 Au g/t g/t Au from 30 metres Ag g/t NSR PDH-C04 Cu % % Cu from 25 metres to EOH Au g/t g/t Au from 25 metres to EOH Ag g/t NSR Cu % % Cu from 28 metres PDH-C05 Au g/t g/t Au from 28 metres Ag g/t NSR Cu % % Cu from 40 metres PDH-C % Cu from 33 metres Au g/t g/t Au from 4 metres g/t Au from 33 metres Ag g/t g/t Ag from 34 metres Cu % % Cu from 24 metres

14 Page 14 Hole ID Element Value Depth (m) From To Intercept (m) Result Intercept Summary % Cu from 26 metres Au g/t g/t Au from surface PDH-C g/t Au from 20 metres g/t Au from 24 metres g/t Au from 26 metres to EOH PDH-C08 PDH-C09 Cu % Au g/t Ag g/t % Cu from 31 metres to EOH g/t Au from 31 metres to EOH g/t Ag from 31 metres to EOH Cu % % Cu from 38 metres Au g/t g/t Au from 0.21g/t Au from 9 metres g/t Au from 26 metres g/t Au from 38 metres Ag g/t g/t Ag from 38 metres Cu % % Cu from 37 metres to EOH PDH-C10 Au g/t g/t Au from surface g/t Au from 21 metres g/t Au from 37 metres to EOH Ag g/t g/t Ag from 37 metres to EOH Cu % Not assayed PDH-C11 Au g/t g/t Au from surface g/t Au from 20 metres Cu % Not assayed Au g/t g/t Au from 20 metres PDH-C g/t Au from 32 metres g/t Au from 51 metres Cu % Not assayed PDH-C13 Au g/t NSR Cu % Not assayed PDH-C14 Au g/t NSR Cu % Not assayed Au g/t g/t au from 31 metres PDH-C g/t Au from 34 metres g/t Au from 41 metres g/t Au from 51 metres Cu % Not assayed Au g/t g/t Au from 3 metres

15 Page 15 Hole ID Element Value Depth (m) From To Intercept (m) Result Intercept Summary PDH-C g/t Au from 35 metres Cu % Not assayed PDH-C17 Au g/t NSR Cu % Not assayed PHC001 Au g/t g/t Au from 2 metres g/t au from 9 metres Cu % Not assayed PHC002 Au g/t g/t Au from 17 metres Cu % % Cu from 22 metres PHC003 Au g/t g/t au from 23 metres Cu % % Cu from 26 metres PHC004 Au g/t g/t Au from 29 metres Cu % % Cu from surface Au g/t g/t Au from surface PHC g/t Au from 36 metres g/t Au from 45 metres Cu % % Cu from surface PHC006 Au g/t g/t Au from surface Cu % % Cu from 11 metres PHC007 Au g/t g/t Au from 3 metres g/t Au from 10 metres Cu % % Cu from 18 metres PHC008 Au g/t g/t Au from 10 metres g/t Au from 14 metres g/t Au from 17 metres Cu % % Cu from 24 metres PHC009 Au g/t g/t Au from surface % Cu from 23 metres Cu % % Cu from 32 metres PHC010 Au g/t % Cu from surface g/t Au from 32 metres Cu % % Cu from 12 metres

16 Page 16 Hole ID Element Value PHC011 Depth (m) From To Intercept (m) Result Intercept Summary % Cu from 17 metres % Cu from 29 metres including % Cu Au g/t g/t Au from surface g/t Au from 17 metres to EOH Cu % % Cu from 35 metres PHC012 Au g/t g/t Au from 32 metres g/t Au from 37 metres Cu % % Cu from 39 metres Au g/t g/t Au from surface PHC g/t Au from 38 metres g/t Au from 47 metres Cu % % Cu from 19 metres PHC014 Au g/t g/t Au from 16 metres g/t Au from 19 metres Cu % % Cu from 27 metres PHC015 Au g/t g/t Au from surface g/t Au from 27 metres Cu % % Cu from 12 metres % Cu from 17 metres PHC016 Au g/t g/t Au from 29 metres Cu % % Cu from 39 metres Au g/t g/t Au from surface PHC g/t Au from 38 metres g/t Au from 47 metres PHC018 Cu % Au g/t % Cu from surface % Cu from 6 metres g/t Au from surface g/t Au from 6 metres Cu % % Cu from 14 metres PHC019 Au g/t g/t Au from 14 metres Cu % % Cu from 24 metres Au g/t g/t Au from 25 metres PHC g/t Au from 29 metres g/t Au from 33 metres

17 Page 17 Hole ID Element Value Depth (m) From To Intercept (m) Result Intercept Summary Cu % % Cu from 29 metres PHC021 Au g/t g/t Au from surface g/t Au from 29 metres g/t Au from 36 metres Cu % % Cu from 34 metres PHC022 Au g/t g/t Au from surface g/t Au from 34 metres g/t Au from 41 metres Cu % % Cu from 2 metres Including % Cu PHC023 Au g/t g/t Au from surface Cu % % Cu from surface % Cu from 6 metres PHC024 Au g/t g/t Au from 4 metres g/t Au from 13 metres g/t Au from 16 metres Cu % % Cu from 16 metres PHC025 Au g/t g/t Au from 16 metres Cu % % Cu from 15 metres % Cu from 22 metres Including 1 2% Cu PHC % Cu from 27 metres Au g/t g/t Au from surface g/t Au from 8 metres g/t Au from 21 metres g/t Au from 34 metres Cu % % Cu from 28 metres PHC027 Au g/t g/t Au from 5 metres g/t Au from 28 metres Cu % % Cu from 35 metres PHC028 Au g/t g/t Au from 35 metres Cu % % Cu from 4 metres PHC029 Au g/t g/t Au from surface g/t Au from 4 metres Cu % % Cu from surface PHC030 Au g/t g/t Au from surface

18 Page 18 Hole ID Element Value Depth (m) From To Intercept (m) Result Intercept Summary PHC031 Au g/t g/t Au from 22 metres Cu % % Cu from 23 metres PHC032 Au g/t g/t Au from 22 metres Cu % % Cu from 29 metres PHC033 Au g/t g/t Au from 29 metres Cu % % Cu from surface PHC034 Au g/t g/t Au from surface Cu % % Cu from surface PHC % Cu from 5 metres Au g/t g/t Au from surface g/t Au from 5 metres Cu % Cu from 13 metres PHC036 Au g/t g/t Au from surface g/t Au from 13 metres Cu % % Cu from 16 metres PHC037 Au g/t g/t Au from 16 metres g/t Au from 29 metres Cu % % Cu from 23 metres % Cu from 27 metres PHC038 Au g/t g/t Au from 23 metres g/t Au from 27 metres Cu % % Cu from 33 metres PHC039 Au g/t g/t Au from 4 metres g/t Au from 32 metres PHC040 Au g/t NSR Cu % % Cu from 7 metres % Cu from 11 metres PHC041 Au g/t g/t Au from surface g/t Au from 7 metres g/t Au from 11 metres

19 Page 19 Hole ID Element Value Depth (m) From To Intercept (m) Result Intercept Summary Cu % % Cu from 14 metres % Cu from 22 metres Au g/t g/t Au from surface PHC g/t Au from 14 metres g/t Au from 20 metres g/t Au from 22 metres g/t Au from 25 metres Cu % % Cu from 16 metres Au g/t g/t Au from 2 metres PHC g/t Au from 16 metres g/t Au from 25 metres PHC044 Au g/t g/t Au from surface g/t Au from 6 metres PHC045 Au g/t NSR Cu % % Cu from surface % Cu from 4 metres PHC046 Au g/t g/t Au from surface g/t Au from 4 metres Cu % % Cu from 4 metres % Cu from 15 metres % Cu from 21 metres PHC047 Au g/t g/t Au from surface g/t Au from 6 metres g/t Au from 15 metres Cu % % Cu from 8 metres PHC048 Au g/t g/t Au from surface g/t Au from 7 metres Cu % % Cu from 19 metres PHC049 Au g/t g/t Au from surface g/t Au from 10 metres g/t Au from 19 metres Cu % % Cu from 12 metres % Cu from 19 metres % Cu from 28 metres PHC050 Au g/t g/t Au from surface

20 Page 20 Hole ID Element Value Depth (m) From To Intercept (m) Result Intercept Summary g/t Au from 28 metres g/t Au from 34 metres PHC051 Au g/t NSR Cu % % Cu from 1 metre % Cu from 9 metres PHC052 Au g/t g/t Au from surface g/t Au from 9 metres Cu % % Cu from surface % Cu from 2 metres % Cu from 5 metres PHC053 Au g/t g/t Au from surface g/t Au from 2 metres g/t Au from 5 metres Cu % % Cu from 11 metres PHC054 Au g/t g/t Au from 11 metres Cu % % Cu from 1 metre PHC % Cu from 23 metres Au g/t g/t Au from 23 metres PHC056 Au g/t NSR Cu % % Cu from 1 metre PHC057 Au g/t g/t Au from surface g/t Au from 11 metres Cu % % Cu from surface PHC058 Au g/t g/t Au from surface Cu % % Cu from surface % Cu from 4 metres PHC059 Au g/t g/t Au from surface g/t Au from 4 metres Cu % % Cu from 15 metres PHC060 Au g/t g/t Au from 15 metres g/t Au from 22 metres Cu % % Cu from 23 metres

21 Page 21 Hole ID Element Value Depth (m) From To Intercept (m) Result Intercept Summary PHC061 Au g/t g/t Au from 11 metres g/t Au from 21 metres PHC062 Au g/t g/t Au from 1 metre PHC063 Au g/t g/t Au from surface Cu % % cu from surface PHC064 Au g/t g/t Au from surface Cu % % Cu from 10 metres % from 20 metres to EOH PHC065 Au g/t g/t Au from surface g/t Au from 11 metres PHC066 Au g/t g/t Au from 17 metres g/t Au from 25 metres PHC067 Au g/t NSR PHC068 Au g/t NSR PHC069 Au g/t g/t Au from surface % Cu from 6 metres Cu % PHC % Cu from 12 metres Au g/t g/t Au from surface Cu % % Cu from 20 metres PHC071 Au g/t g/t Au from 21 metres Cu % % Cu from 4 metres % Cu from 13 metres PHC % Cu from 23 metres % Cu from 28 metres Au g/t g/t au from 4 metres g/t Au from 14 metres

22 Page 22 Hole ID Element Value Depth (m) From To Intercept (m) Result Intercept Summary PHC073 Au g/t NSR PHC074 Au g/t NSR Cu % % Cu from surface PHC075 Au g/t g/t Au from surface Cu % % Cu from 9 metres PHC076 Au g/t g/t Au from 2 metres Cu % % Cu from 11 metres % Cu from 15 metres % Cu from 20 metres % Cu from 25 metres PHC077 Au g/t g/t Au from 8 metres g/t au from 15 metres g/t Au from 17 metres g/t Au from 19 metres g/t Au from 25 metres Cu % g/t Au from 10 metres PHC097 Au g/t g/t Au from 2 metres g/t Au from 4 metres Cu % % Cu from 20 metres PHC098 Au g/t g/t Au from surface g/t Au from 17 metres g/t Au from 20 metres Cu % % Cu from 26 metres PHC099 Au g/t g/t Au from 27 metres Cu % % Cu from 33 metres PHC100 Au g/t g/t Au from surface g/t Au from 33 metres Cu % % Cu from surface % Cu from 38 metres % Cu from 39 metres PHC % Cu from 45 metres Au g/t g/t Au from surface g/t Au from 37 metres to EOH

23 Page 23 Hole ID Element Value Depth (m) From To Intercept (m) Result Intercept Summary Cu % % Cu from 4 metres PHC102 Au g/t g/t Au from 2 metres g/t Au from 17 metres PHC103 Au g/t g/t Au from 14 metres Cu % % Cu from 23 metres PHC104 Au g/t g/t Au from 23 metres Cu % % Cu from 30 metres PHC105 Au g/t g/t Au from surface g/t Au from 21 metres g/t Au from 30 metres Cu % % Cu from 37 metres PHC106 Au g/t g/t Au from surface g/t Au from 37 metres Cu % % Cu from surface % Cu from 40 metres PHC107 Au g/t g/t Au from surface g/t Au from 40 metres Cu % % Cu from 7 metres PHC % Cu from 11 metres Au g/t NSR PHC109 Au g/t NSR PHC110 Au g/t g/t Au from 28 metres Cu % % Cu from 34 metres PHC111 Au g/t g/t Au from surface g/t Au from 34 metres Cu % % Cu from 41 metres Au g/t g/t Au from surface PHC g/t Au from 19 metres g/t Au from 40 metres

24 Page 24 Hole ID Element Value Depth (m) From To Intercept (m) Result Intercept Summary Cu % % Cu from 5 metres % Cu from 12 metres PHC113 Au g/t g/t Au from 4 metres Cu % % Cu from 15 metres PHC114 Au g/t g/t Au from 14 metres Cu % % Cu from 24 metres PHC115 Au g/t g/t Au from 24 metres Cu % % Cu from 31 metres PHC116 Au g/t g/t Au from surface g/t Au from 31 metres Cu % % Cu from surface % Cu from 38 metres PHC117 Au g/t g/t Au from surface g/t Au from 38 metres g/t Au from 44 metres Cu % % Cu from surface % Cu from 45 metres PHC118 Au g/t g/t Au from surface g/t Au from 45 metres Hole ID Element Value Table 2: Chunderloo North Prospect Results Depth (m) From To Intercept (m) Result Intercept Summary Cu % Not assayed 08CHRC003 Au g/t g/t Au from 20 metres g/t Au from 25 metres g/t Au from 29 metres g/t Au from 36 metres g/t Au from 48 metres 08CHRC004 Cu % Not assayed Au g/t g/t Au from 41 metres Cu % % Cu from 9 metres PHC078 Au g/t g/t Au from surface g/t Au from 4 metres Cu % % Cu from 20 metres PHC079 Au g/t g/t Au from 20 metres g/t Au from 23 metres

25 Page 25 Hole ID Element Value Depth (m) From To Intercept (m) Result Intercept Summary g/t Au from 32 metres Cu % % Cu from 39 metres % Cu from 60 metres PHC080 Au g/t g/t au from 32 metres g/t Au from 38 metres g/t Au from 48 metres g/t Au from 61 metres PHC081 Cu % % Cu from 58 metres Au g/t g/t au from 54 metres Cu % % Cu from 36 metres PHC082 Au g/t g/t Au from 4 metres g/t Au from 34 metres g/t Au from 42 metres PHC083 Au g/t g/t Au from 30 metres Cu % % Cu from 46 metres % Cu from 50 metres PHC084 Au g/t g/t Au from 38 metres g/t Au from 46 metres g/t Au from 56 metres PHC085 Au g/t NSR PHC086 Au g/t g/t Au from surface g/t Au from 8 metres g/t Au from 28 metres Au g/t g/t Au from 2 metres PHC g/t Au from 19 metres g/t Au from 25 metres g/t Au from 32 metres g/t Au from 53 metres PHC088 Cu % % Cu from 43 metres Au g/t g/t Au from 40 metres Cu % % Cu from 53 metres PHC089 Au g/t g/t Au from 14 metres g/t Au from 53 metres Cu % % Cu from surface % Cu from 5 metres PHC090 Au g/t g/t au from surface g/t Au from 5 metres g/t Au from 11 metres g/t Au from 14 metres g/t au from 28 metres

26 Page 26 Hole ID Element Value Depth (m) From To Intercept (m) Result Intercept Summary Cu % % Cu from 23 metres PHC091 Au g/t g/t Au from surface g/t Au from 22 metres g/t Au from 29 metres g/t au from 40 metres g/t Au from 52 metres PHC092 Au g/t g/t Au from 38 metres g/t Au from 45 metres g/t Au from 59 metres Cu % % Cu from 62 metres PHC093 Au g/t g/t Au from 52 metres g/t Au from 59 metres Cu % % Cu from surface PHC094 Au g/t g/t Au from surface g/t Au from 5 metres g/t au from 39 metres Cu % % Cu from 18 metres PHC095 Au g/t g/t Au from 16 metres g/t Au from 21 metres g/t Au from 25 metres g/t Au from 60 metres Cu % % Cu from 52 metres PHC096 Au g/t g/t Au from 34 metres g/t au from 52 metres g/t Au from 57 metres

27 Page 27 Appendix 3 Aquarius Exploration NL: Chunderloo Prospect Resource Calculation ( ) Table 1: Data Involved in non-jorc compliant Chunderloo resource

28 Page 28 (Table 1 Continued)