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Castillo Copper Limited Drilling commences at Arya Copper Prospect

18/10/2021 7:00am

UK Regulatory (RNS & others)


Castillo Copper (LSE:CCZ)
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RNS Number : 3050P

Castillo Copper Limited

18 October 2021

18 October 2021

CASTILLO COPPER LIMITED

("Castillo" or "CCZ" the "Company")

Drilling commences at Arya Copper Prospect

Castillo Copper Limited ("CCZ"), a base metal explorer primarily focused on copper across Australia and Zambia, is pleased to announce that following the largest mobilisation effort in CCZ's history, drilling has now commenced at the Arya Copper Prospect, located in the Mt Isa copper-belt of Queensland, Australia.

Highlights

-- The inaugural drilling campaign at the Arya Copper Prospect is now underway, after a massive logistical effort to prepare the drill-pads and heli-lift the rig and all supporting equipment to site

-- After reconciling the geochemical and geophysics data(1) , the Board decided to orchestrate a strategic "proof of concept" campaign, comprising five initial RC drill-holes

-- Key focus remains to drill-test the three targets identified by BHP in the mid-1990s including EG01, EG02 and EG10(1,2) :

o Of these, EG01 has been interpreted as a potential massive sulphide bedrock conductor 130m thick, 1,500m long and 450m wide at a revised 100-200m depth(1,2)

-- If initial observations and findings from the drilling are encouraging, the campaign will be expanded to fully-test the extent of any underlying system

-- Concurrently, the geology team will undertake a 200m-by-200m mapping / rock chip sampling campaign which is designed to extend the known surface anomaly to the south

Simon Paull, Managing Director of Castillo Copper, commented: "We are delighted to have commenced drilling at our Arya prospect. Of the 22 targets that we have across the tenure in the Mt Isa region, the Arya Copper Prospect has generated the most intrigue and interest among stakeholders. The geochemistry and geophysical evidence have all provided compelling evidence the three targets are potentially among the best within our tenure. As such, the Board optimistically looks forward to the initial observations as the campaign progresses."

DRILLING UNDERWAY AT THE ARYA COPPER PROSPECT

Drilling is now underway at the Arya Copper Prospect after the largest mobilisation effort in CCZ's history. This entailed heli-lifting the drill-rig, all supporting equipment and personnel to site due to the rough terrain. After running several scenarios, heli-lifting all the equipment to site (and between drill pads) was calculated to be more cost efficient and flexible than building a reinforced, access road at this initial stage of the campaign.

Furthermore, post reconciling historic geochemical and geophysical data, the Board decided it was strategically more prudent to orchestrate a "proof of concept" campaign comprising five RC drill-holes initially which includes AR04, AR08, AR09, AR13 and AR21. If the first-round observations and geological findings are encouraging, there is built-in flexibility to expand the campaign to fully drill-test the extent of any underlying system.

The focus remains on drill-testing the three main targets that BHP identified in the mid-1990s comprising EG01, EG02 and EG10. Significantly, much of the emphasis will be on EG01 which is interpreted to be a potential massive sulphide bedrock conductor 130m thick, 1,500m long and 450m wide at a revised 100-200m depth(1,2) .

Additionally, the geology team will undertake a 200m-by-200m mapping / rock-chip sampling campaign which is aiming to extend the known historical surface anomaly to the south.

Next steps

In Queensland, the following is set to take place over the coming weeks:

   o     Progress reports on drilling at the Arya Copper Prospect. 

For the lithium projects:

o Ongoing due diligence for the Picasso and Litchfield Lithium Projects, including return of assay results for surface sampling campaigns.

There are several ongoing steps for the Zambia operations, including:

o Complete the IP survey at the Luanshya & Mkushi Projects then analyse the results for incremental targets for test-drilling; and

   o     Commence work on the inaugural drilling campaign for the Luanshya Project. 

In addition to this release, a PDF version of this report with supplementary information and images can be found on the Company's website: https://www.castillocopper.com/asx-announcements/

For further information, please contact:

 
Castillo Copper Limited                       +61 8 6558 0886 
Simon Paull (Australia), Managing Director 
 Gerrard Hall (UK), Director 
 
SI Capital Limited (Financial Adviser and 
 Corporate Broker)                            +44 (0)1483 413500 
Nick Emerson 
 
Luther Pendragon (Financial PR)               +44 (0)20 7618 9100 
Harry Chathli, Alexis Gore, Elsa Darlington 
 

About Castillo Copper

Castillo Copper Limited is an Australian-based explorer primarily focused on copper across Australia and Zambia. The group is embarking on a strategic transformation to morph into a mid-tier copper group underpinned by its core projects:

-- A large footprint in the Mt Isa copper-belt district, north-west Queensland, which delivers significant exploration upside through having several high-grade targets and a sizeable untested anomaly within its boundaries in a copper-rich region.

-- Four high-quality prospective assets across Zambia's copper-belt which is the second largest copper producer in Africa.

-- A large tenure footprint proximal to Broken Hill's world-class deposit that is prospective for zinc-silver-lead-copper-gold.

-- Cangai Copper Mine in northern New South Wales, which is one of Australia's highest grading historic copper mines.

The group is listed on the LSE and ASX under the ticker "CCZ."

References

1. BHP Minerals Pty Ltd, 1998. EPM 11383 (Alsace Camp), 11452 (Epsilon), Combined Annual/Final Report for the Period

Ending 19/12/98. QDEX Report: 30750; BHP Minerals Pty Ltd, 1997. EPM 11383 (Alsace Camp), 11452 (Epsilon),

Combined Annual Report for the Period Ending 19/12/97. QDEX Report: 29762; and CCZ ASX Release - 10 June 2020 and 13 April 2021

   2.     CCZ ASX Release - 10 August & 14 September 2021 

Competent Person Statement

The information in this report that relates to Exploration Results for "Big One Deposit" is based on information compiled or reviewed by Mr Mark Biggs. Mr Biggs is both a shareholder and director of ROM Resources, a company which is a shareholder of Castillo Copper Limited. ROM Resources provides ad hoc geological consultancy services to Castillo Copper Limited. Mr Biggs is a member of the Australian Institute of Mining and Metallurgy (member #107188) and has sufficient experience of relevance to the styles of mineralisation and types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, and Mineral Resources. Mr Biggs holds an AusIMM Online Course Certificate in 2012 JORC Code Reporting. Mr Biggs also consents to the inclusion in this report of the matters based on information in the form and context in which it appears.

The London Stock Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

APPIX A: JORC Code, 2012 Edition - Table 1 Arya Geochem and EM Interpretation

Section 1 Sampling Techniques and Data

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

 
 Criteria       JORC Code explanation                                         Commentary 
 Sampling 
  techniques     *    Nature and quality of sampling (eg cut channels,               *    Three (3) entities completed rock chip sampling 
                      random chips, or specific specialised industry                      methods over at least four (4) separate surface 
                      standard measurement tools appropriate to the                       sampling campaigns and are described in the current 
                      minerals under investigation, such as down hole gamma               ASX Release, a generalised description of rock chip 
                      sondes, or handheld XRF instruments, etc). These                    sample collection is presented here. 
                      examples should not be taken as limiting the broad 
                      meaning of sampling. 
                                                                                     *    Rock Chip Samples - were collected up to 
                                                                                          approximately a 5m radius around the recorded 
                 *    Include reference to measures taken to ensure sample                co-ordinate location. The rock chip fragments that 
                      representivity and the appropriate calibration of any               were collected to make up the sample included a 
                      measurement tools or systems used.                                  typical fragment size that approximately ranged from 
                                                                                          2-5cm. 
 
                 *    Aspects of the determination of mineralisation that 
                      are Material to the Public Report.                             *    Sub-sampling occurred as described in the section 
                                                                                          'Sub-sampling techniques and sample preparation' in 
                                                                                          Section 1 of the current Table 1. 
                 *    In cases where 'industry standard' work has been done 
                      this would be relatively simple (eg 'reverse 
                      circulation drilling was used to obtain 1 m samples            *    The surface sample results described in this ASX 
                      from which 3 kg was pulverised to produce a 30 g                    Release are suitable for the reporting 'exploration 
                      charge for fire assay'). In other cases more                        results' for mineral prospectivity, additional 
                      explanation may be required, such as where there is                 exploration work would have to be completed to 
                      coarse gold that has inherent sampling problems.                    geologically model and then estimate a mineral 
                      Unusual commodities or mineralisation types (eg                     resource. 
                      submarine nodules) may warrant disclosure of detailed 
                      information. 
               ============================================================  =========================================================================== 
 Drilling 
  techniques          *    Drill type (eg core, reverse circulation, open-h          *    There are no historical drillholes in the Ayra -Sansa 
                     ole                                                                  prospect area. 
                           hammer, rotary air blast, auger, Bangka, sonic, 
                     etc) 
                           and details (eg core diameter, triple or standar 
                     d 
                           tube, depth of diamond tails, face-sampling bit 
                     or 
                           other type, whether core is oriented and if so, 
                     by 
                           what method, etc). 
               ============================================================  =========================================================================== 
 Drill sample                                                                 *    No new drillholes samples were taken. 
  recovery       *    Method of recording and assessing core and chip 
                      sample recoveries and results assessed. 
 
 
                 *    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          *    No geological logging took place as no new holes were 
                       and geotechnically logged to a level of detail to                  drilled. 
                       support appropriate Mineral Resource estimation, 
                       mining studies and metallurgical studies. 
 
 
                  *    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      *    If core, whether cut or sawn and whether quarter,             *    All surface samples were collected dry. 
  and sample           half or all core taken. 
  preparation 
                                                                                     *    BHP Minerals rock chip samples -sample location and 
                  *    If non-core, whether riffled, tube sampled, rotary                 assay data were extracted from an Appendix of the 
                       split, etc and whether sampled wet or dry.                         QDEX report using Optical Character Recognition, then 
                                                                                          underwent a correction or data QA/QC process to 
                                                                                          ensure that subsequent data extracted was "as 
                  *    For all sample types, the nature, quality and                      reported". 
                       appropriateness of the sample preparation technique. 
 
                                                                                     *    Mount Isa Mines - the sample location and assay data 
                  *    Quality control procedures adopted for all                         were extracted from QDEX report as .dat files. 
                       sub-sampling stages to maximise representivity of 
                       samples. 
                                                                                     *    Mount Isa Mines - Typically for surface samples there 
                                                                                          were brief descriptions of the lithology etc is 
                  *    Measures taken to ensure that the sampling is                      recorded within sample ledgers/registers. 
                       representative of the in situ material collected, 
                       including for instance results for field 
                       duplicate/second-half sampling.                               *    Mount Isa Metals - sample location and assay data 
                                                                                          were extracted from an Appendix of the QDEX report 
                                                                                          using Optical Character Recognition, then underwent a 
                  *    Whether sample sizes are appropriate to the grain                  correction or data QA/QC process to ensure that 
                       size of the material being sampled.                                subsequent data extracted was "as reported". 
 
 
                                                                                     *    The surface sample results described in this ASX 
                                                                                          Release are suitable for the reporting 'exploration 
                                                                                          results' for mineral prospectivity, additional 
                                                                                          exploration work would have to be completed in order 
                                                                                          to geologically model and then estimate a mineral 
                                                                                          resource. 
               ============================================================  =========================================================================== 
 Quality 
  of assay       *    The nature, quality and appropriateness of the                       *    The rock chip samples were dispatched for Assay to 
  data and            assaying and laboratory procedures used and whether                       Amdel Analytical Laboratories at Mt Isa. 
  laboratory          the technique is considered partial or total. 
  tests 
                                                                                           *    The samples were digested by Aqua Regia and elemental 
                 *    For geophysical tools, spectrometers, handheld XRF                        analysis completed by Direct Optical Emission ICP: 
                      instruments, etc, the parameters used in determining                      under Amdel Analytical Laboratory test method IC3E. 
                      the analysis including instrument make and model, 
                      reading times, calibrations factors applied and their 
                      derivation, etc.                                                     *    Elements analysed by this method IC3E included Cu, Pb, 
                                                                                                Zn, Ag, As, Ba, Bi, Cd, Ci, Co, Fe, K, La, Mn, Mo, Na, 
                                                                                                Ni, Sn, Ta. Tl, and W. Not all batches, however, 
                 *    Nature of quality control procedures adopted (eg                          appear to have been analysed for all elements. 
                      standards, blanks, duplicates, external laboratory 
                      checks) and whether acceptable levels of accuracy (ie 
                      lack of bias) and precision have been established.                   *    Mount Isa Mines rock chip samples: o Elements 
                                                                                                analysed by this method could include Cu, Pb, Zn, Ag, 
                                                                                                As, Ba, Bi, Cd, Ci, Co, Fe, K, La, Mn, Mo, Na, Ni, Sn, 
                                                                                                Ta. Tl, and W. Not all batches, however, appear to 
                                                                                                have been analysed for all elements. 
 
 
                                                                                           *    Gold was assessed by sampling techniques in the field 
                                                                                                then assayed by method GI 142 which is a cyanidation 
                                                                                                technique (BCL or Bulk Cyanide Leach) bottle roll 
                                                                                                which had detection limits as low as 0.05 ppb Au. 
 
 
                                                                                           *    Rock chips were collected by taking a series of chips 
                                                                                                approximately 2 to 5cm in diameter across approx. a 
                                                                                                3m radius of the outcrop being sampled. The sample 
                                                                                                was then crushed and analysed for a base metal suite 
                                                                                                by method GA 140. 
 
 
                                                                                           *    Rock chips analysed for gold included for some 
                                                                                                batches suite GG 326 comprising of a 30-gram charged 
                                                                                                fire assay fusion with carbon rod finish with 
                                                                                                detection limits down to 0.001 ppm Au. Some indicator 
                                                                                                element and whole rock analysis was undertaken by 
                                                                                                ICP-MS at Analabs. 
 
 
                                                                                           *    The Analabs analytical methods changed from March 
                                                                                                1994, yet the same collection method appears to be 
                                                                                                comparable to earlier years: 
 
 
                                                                                           *    Analabs Assay methods employed for rock chip, soil, 
                                                                                                and stream sediment additionally included (for some 
                                                                                                campaigns): 
 
 
                                                                                           *    Method GI 142 (ICP) for elements Cu, Pb, Zn, Fe, Mn, 
                                                                                                Co, P, & As. 
 
 
                                                                                           *    Method GX401 (pressed powder XRF trace determination) 
                                                                                                for Ba; and Method GG334 (aqua regia with carbon rod 
                                                                                                finish) for Au. 
 
 
                                                                                           *    Detection limits across any year were suitable for 
                                                                                                detecting 'Trace Elements'. 'Ore grade' testing 
                                                                                                occurred when either, visible base metal minerals 
                                                                                                were present and/or were Cu, Pb, or Zn, exceeded 
                                                                                                10,000ppm of the respective element. 
 
 
                                                                                           *    Mt Isa Metals rock chip samples were processed at a 
                                                                                                Commercial Laboratory, information in the QDEX report 
                                                                                                indicates that this was Analabs Townsville (which 
                                                                                                later fell under SGS ownership). Elemental Analysis 
                                                                                                for the assay results returned from the commercial 
                                                                                                laboratory were Cu, Pb, Zn, Ba, Co, and Au. It is 
                                                                                                assumed that the analytical testing suite is 
                                                                                                comparable to those reported for Mount Isa Mines 
                                                                                                Analabs suite. 
               ============================================================  =========================================================================== 
 Verification 
 of sampling     *    The verification of significant intersections by                     *    Mount Isa Mines rock chip samples: 
 and assaying         either independent or alternative company personnel. 
 
                                                                                          o Independent verification of surface samples 
                 *    The use of twinned holes.                                           had been completed for selected gold assay 
                                                                                          values. 
                                                                                          o Analabs Townsville Assays checked against 
                 *    Documentation of primary data, data entry procedures,               ALS Townsville Assays when high Au values were 
                      data verification, data storage (physical and                       returned for stream sediment samples. The two 
                      electronic) protocols.                                              sets of assay results generally showed an acceptable 
                                                                                          correlation, and this matched observations 
                                                                                          historically reported by Mount Isa Mines. 
                 *    Discuss any adjustment to assay data.                                *    BHP Minerals and Mount Isa Metals rock chip samples 
                                                                                                do not appear to have had any independent laboratory 
                                                                                                testing of the samples across different laboratories. 
 
 
                                                                                           *    The surface sample results described in this ASX 
                                                                                                Release are suitable for the reporting 'exploration 
                                                                                                results' for mineral prospectivity, additional 
                                                                                                exploration work would have to be completed to 
                                                                                                geologically model and then estimate a mineral 
                                                                                                resource. 
               ============================================================  =========================================================================== 
 Location 
  of data        *    Accuracy and quality of surveys used to locate drill                 *    For rock chip samples positions were recorded by 
  points              holes (collar and down-hole surveys), trenches, mine                      handheld GPS with areas highlighting anomalies 
                      workings and other locations used in Mineral Resource                     sometimes returned to for additional sampling and 
                      estimation.                                                               locations checked by handheld GPS. 
 
 
                 *    Specification of the grid system used.                               *    Locational Data for BHP Minerals was in AMG66 and 
                                                                                                Mount Isa Mines was recorded in local grid and/or 
                                                                                                AMG84 zone 54 Easting (mE) and Northing (mN). There 
                 *    Quality and adequacy of topographic control.                              was no topographical control used for some locations. 
 
 
                                                                                           *    Locational Data for Mount Isa Metals was recorded in 
                                                                                                local grid and/or MGA94 zone 54 Easting (mE) and 
                                                                                                Northing (mN). 
 
 
                                                                                           *    The Arya rock chip sample dataset is anticipated on 
                                                                                                average to have up to a +/-20m horizontal level of 
                                                                                                accuracy in sample locations and range up to a +/-10m 
                                                                                                of accuracy in sample locations for vertical 
                                                                                                accuracy. 
 
 
                                                                                           *    Surface sample and assay data had been prepared and 
                                                                                                compiled into Manifold GIS System and all data 
                                                                                                converted to GDA94-Zone 54. 
               ============================================================  =========================================================================== 
 Data spacing 
 and             *    Data spacing for reporting of Exploration Results.                        *    For the Ayra surface sampling modelling for copper, 
 distribution                                                                                        the average RMS sample-to-sample spacing was as 
                                                                                                     follows: 
                 *    Whether the data spacing and distribution is 
                      sufficient to establish the degree of geological and 
                      grade continuity appropriate for the Mineral Resource                    o Stream sediments 67m 
                      and Ore Reserve estimation procedure(s) and                              o Soil 48m 
                      classifications applied.                                                 o Rock chip 233m 
 
 
                 *    Whether sample compositing has been applied. 
               ============================================================  =========================================================================== 
 Orientation 
 of data         *    Whether the orientation of sampling achieves unbiased                *    In general, the strike of the Surprise Creek 
 in relation          sampling of possible structures and the extent to                         Formation is east-northeast to east, dipping 
 to                   which this is known, considering the deposit type.                        moderately to the north. 
 geological 
 structure 
                 *    If the relationship between the drilling orientation                 *    For 'Arya' rock chips there was no fixed orientation 
                      and the orientation of key mineralised structures is                      as these methods were used in the first instance to 
                      considered to have introduced a sampling bias, this                       define distinct areas of anomalisms, based on areas 
                      should be assessed and reported if material.                              of observed surface mineralisation. 
 
 
                                                                                           *    For 'Arya' rock chips that produced significant 
                                                                                                anomalous values appear to be associated with the 
                                                                                                mapped fault, fault bounded breccia, and the Surprise 
                                                                                                Creek Formation 'PLrd' rock unit ('Prd' historical) 
                                                                                                that dominates the 'Arya' prospect to the south of 
                                                                                                the fault. 
               ============================================================  =========================================================================== 
 Sample 
 security         *    The measures taken to ensure sample security.                       *    There is no detailed record of sample security 
                                                                                                methods were employed in the field or by transport to 
                                                                                                the laboratory and measures taken in the laboratory 
                                                                                                by earlier explorers. 
 
 
                                                                                           *    Given the provenance of the data from historical 
                                                                                                explorers and the remoteness of the location, 
                                                                                                historical sample security is deemed adequate for the 
                                                                                                reporting of surface assay grades and trends. 
               ============================================================  =========================================================================== 
 Audits or                                                                         No external reviews or audits have been undertaken, 
  reviews         *    The results of any audits or reviews of sampling             except for the Independent Geologists Report 
                       techniques and data.                                         by SRK in 2019 for the LSE Listing and a review 
                                                                                    of the airborne and ground geophysics by the 
                                                                                    GeoDiscovery Group. 
 
                                                                                    Note, the reference is: Nelson K., Review of 
                                                                                    open file EM and magnetic geophysical data 
                                                                                    at Ayra Prospect, GeoDiscovery Group, unpublished 
                                                                                    confidential report to Castillo Copper Limited, 
                                                                                    June 2021, 16pp. 
               ============================================================  =========================================================================== 
 

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

 
 Criteria         JORC Code explanation                                              Commentary 
 Mineral 
  tenement          *    Type, reference name/number, location and ownership                *    The following mineral tenures are held 100% by 
  and land               including agreements or material issues with third                      subsidiaries of Castillo Copper Limited, totalling an 
  tenure status          parties such as joint ventures, partnerships,                           area of approximately 961km(2) in the "Mt Oxide North 
                         overriding royalties, native title interests,                           project": 
                         historical sites, wilderness or national park and 
                         environmental settings. 
                                                                                            *    EPM 26574 (Valparaisa North) - encompasses the Big 
                                                                                                 One historical mineral resource, Holder Total 
                    *    The security of the tenure held at the time of                          Minerals Pty Ltd, granted 12-June-2018 for a 5-year 
                         reporting along with any known impediments to                           period over 100 sub-blocks (323.3Km2), Expires 
                         obtaining a licence to operate in the area.                             11-June-2023. 
 
 
                                                                                            *    EPM 26462 (Big Oxide North) - encompasses the 
                                                                                                 'Boomerang' historical mine and the 'Big One' 
                                                                                                 historical mine, Holder: QLD Commodities Pty Ltd, 
                                                                                                 granted: 29-Aug-2017 for a 5-year period over 67 
                                                                                                 sub-blocks (216.5Km(2) ), Expires: 28-Aug-2022. 
 
 
                                                                                            *    EPM 26525 (Hill of Grace) - encompasses the Arya 
                                                                                                 significant aeromagnetic anomaly, Holder: Total 
                                                                                                 Minerals Pty Ltd for a 5-year period over 38 
                                                                                                 sub-blocks (128.8Km2), Granted: 12-June 2018, 
                                                                                                 Expires: 11-June-2023. 
 
 
                                                                                            *    EPM 26513 (Torpedo Creek/Alpha Project) - Granted 
                                                                                                 13-Aug 2018 for a 5-year period over 23 sub-blocks 
                                                                                                 (74.2Km2), Expires 12-Aug-2023; and 
 
 
                                                                                            *    EPM 27440 (The Wall) - An application was lodged on 
                                                                                                 the 12-Dec2019 over 70 sub-blocks (215Km(2) ) by 
                                                                                                 Castillo Copper Limited. The tenure was granted on 
                                                                                                 the 7(th) March 2021. 
                 =================================================================  ======================================================================= 
 Exploration 
  done by           *    Acknowledgment and appraisal of exploration by other                    *    A selection of historical QDEX / mineral exploration 
  other parties          parties.                                                                     reports has been reviewed for historical tenures that 
                                                                                                      cover or partially cover the Project Area in this 
                                                                                                      announcement. Federal and State Government reports 
                                                                                                      supplement the historical mineral exploration 
                                                                                                      reporting (QDEX open file exploration records). 
 
 
                                                                                                 *    Most explorers were searching for Cu-Au-U and/or 
                                                                                                      Pb-Zn-Ag, and, proving satellite deposit style 
                                                                                                      extensions to the several small sub-economic copper 
                                                                                                      deposits (e.g., Big Oxide and Josephine). 
 
 
                                                                                                 *    With the Mt Oxide Project in regional proximity to Mt 
                                                                                                      Isa and numerous historical and active mines, the 
                                                                                                      Project area has seen the historical mineral tenures 
                                                                                                      subject to various styles of surface sampling, with 
                                                                                                      selected locations typically targeted at specific 
                                                                                                      locations within the Mt Oxide Pillar by shallow 
                                                                                                      drilling (Total hole depth is typically less than 
                                                                                                      75m). 
 
 
                                                                                                 *    The Mt Oxide project tenure package has a significant 
                                                                                                      opportunity to be reviewed and explored by modern 
                                                                                                      exploration methods in a coherent package of EPM's, 
                                                                                                      with three of these forming a contiguous tenure 
                                                                                                      package. 
 
 
                                                                                                 *    Various Holders and related parties of the 'Big One' 
                                                                                                      historical mining tenure (ML8451) completed a range 
                                                                                                      of mining activities and exploration activities on 
                                                                                                      what is now the 'Big One' prospect for EPM 26574. The 
                                                                                                      following unpublished work is acknowledged in 
                                                                                                      previous ASX reports: 
 
 
                                                                                                o West Australian Metals NL, 1994. Drill Programme 
                                                                                                at the "Big One" Copper Deposit, North Queensland 
                                                                                                for West Australian Metals NL. 
                                                                                                o Wilson, D., 2011. 'Big One' Copper Mine Lease 
                                                                                                5481 Memorandum - dated 7 May 2011. 
                                                                                                o Wilson, D., 2015. 'Big One' Mining Lease 
                                                                                                Memorandum - dated 
                                                                                                o 25 May 2015: and 
                                                                                                o Csar, M, 1996. Big One & Mt Storm Copper 
                                                                                                Deposits. 
                                                                                                o Unpublished Xplore Resources field report 
                                                                                                Aug 2020. 
                                                                                                 *    Arya prospect - the five (5) historical exploration 
                                                                                                      reports generated by various explorers that 
                                                                                                      contributed information and data to this ASX Release 
                                                                                                      are detailed in the References section of the main 
                                                                                                      body. 
                 =================================================================  ======================================================================= 
 Geology 
                    *    Deposit type, geological setting and style of                           *    The Mt Oxide North project is located within the Mt 
                         mineralisation.                                                              Isa Inlier of western Queensland, a large, exposed 
                                                                                                      section of Proterozoic (2.5 billion- to 
                                                                                                      540-million-year-old) crustal rocks. The inlier 
                                                                                                      records a long history of tectonic evolution, now 
                                                                                                      thought to be like that of the Broken Hill Block in 
                                                                                                      western New South Wales. 
 
 
                                                                                                 *    The Mt Oxide project lies within the Mt Oxide Domain, 
                                                                                                      straddling the Lawn Hill Platform and Leichhardt 
                                                                                                      River Fault Trough. The geology of the tenement is 
                                                                                                      principally comprised of rocks of the Surprise Creek 
                                                                                                      and Quilalar Formations which include feldspathic 
                                                                                                      quartzites, conglomerates, arkosic grits, shales, 
                                                                                                      siltstones and minor dolomites and limestones. 
 
 
                                                                                                 *    The Mt Oxide Pillar project area is cut by a major 
                                                                                                      fault zone, trending north-northeast to 
                                                                                                      south-southwest across the permits. This fault is 
                                                                                                      associated with major folding, forming several tight 
                                                                                                      syncline and anticline structures along its length. 
 
 
                                                                                                 *    The desktop studies commissioned by CCZ on the 
                                                                                                      granted mineral tenures described four main styles of 
                                                                                                      mineralisation account for most mineral resources 
                                                                                                      within the rocks of the Mt Isa Province (after 
                                                                                                      Withnall & Cranfield, 2013). 
 
 
                                                                                                 *    Sediment hosted silver-lead-zinc - occurs mainly 
                                                                                                      within fine grained sedimentary rocks of the Isa 
                                                                                                      Super basin within the 
 
 
                                                                                                 *    Western Fold Belt. Deposits include Black Star (Mount 
                                                                                                      Isa PbZn), Century, George Fisher North, George 
                                                                                                      Fisher South (Hilton) and Lady Loretta deposits. 
 
 
                                                                                                 *    Brecciated sediment hosted copper - occurs dominantly 
                                                                                                      within the Leichhardt, Calvert, and Isa Super basin 
                                                                                                      of the Western Fold Belt, hosted in brecciated 
                                                                                                      dolomitic, carbonaceous and pyritic sediments or 
                                                                                                      brecciated rocks proximal to major fault/shear zones. 
                                                                                                      Includes the Mount Isa copper orebodies and the 
                                                                                                      Esperanza/Mammoth mineralisation. 
 
 
                                                                                                 *    Iron-oxide-copper-gold ("IOCG") - predominantly 
                                                                                                      chalcopyrite, pyrite magnetite/hematite 
                                                                                                      mineralisation within high grade metamorphic rocks of 
                                                                                                      the Eastern Fold Belt. Deposits of this style include 
                                                                                                      Ernest Henry, Osborne, and Selwyn; and 
 
 
                                                                                                 *    Broken Hill type silver-lead-zinc - occur within the 
                                                                                                      high-grade metamorphic rocks of the Eastern Fold 
                                                                                                      Belt. Cannington is the major example, but several 
                                                                                                      smaller currently sub-economic deposits are known. 
 
 
                                                                                                 *    Gold is primarily found associated with copper within 
                                                                                                      the IOCG deposits of the Eastern Fold Belt. However, 
                                                                                                      a significant exception is noted at Tick Hill where 
                                                                                                      high grade gold mineralisation was produced, between 
                                                                                                      1991 and 1995 by Carpentaria Gold Pty Ltd, some 700 
                                                                                                      000 tonnes of ore was mined at an average grade of 
                                                                                                      22.5 g/t Au, producing 15 900 kg Au. The Tick Hill 
                                                                                                      deposit style is poorly understood (Withnall & 
                                                                                                      Cranfield, 2013). 
 
 
                                                                                                 *    ROM Resources had noted in a series of recent reports 
                                                                                                      for CCZ on the granted tenures, that cover the known 
                                                                                                      mineralisation styles including: 
 
 
                                                                                                o Stratabound copper mineralisation within 
                                                                                                ferruginous sandstones and siltstones of the 
                                                                                                Surprise Creek Formation. 
                                                                                                o Disseminated copper associated with trachyte 
                                                                                                dykes. 
                                                                                                o Copper-rich iron stones (possible IOCG) in 
                                                                                                E-W fault zones; and 
                                                                                                o possible Mississippi Valley Type ("MVT") 
                                                                                                stockwork sulphide mineralisation carrying 
                                                                                                anomalous copper-lead-zinc and silver. 
                                                                                                 *    The Mt Oxide and Mt Gordon occurrences are thought to 
                                                                                                      be breccia and replacement zones with interconnecting 
                                                                                                      faults. The Mt Gordon/Mammoth deposit is hosted by 
                                                                                                      brittle quartzites, and Esperanza by carbonaceous 
                                                                                                      shales. Mineralisation has been related to the Isan 
                                                                                                      Orogeny (1,590 - 1,500 Ma). 
 
 
                                                                                                 *    Mineralisation at all deposits is primarily 
                                                                                                      chalcopyrite-pyrite-chalcocite, typically as massive 
                                                                                                      sulphide within breccias. 
 
 
                                                                                                 *    At the Big One prospect, West Australian Metals NL 
                                                                                                      described the mineralisation as (as sourced from the 
                                                                                                      document "West Australian Metals NL, 1994. Drill 
                                                                                                      Programme at the "Big One" Copper Deposit, North 
                                                                                                      Queensland for West Australian Metals NL."): 
 
 
                                                                                                 *    The targeted lode / mineralised dyke is observable on 
                                                                                                      the surface. The mineralisation targeted in the 1993 
                                                                                                      drilling programmed is a supergene copper 
                                                                                                      mineralisation that includes malachite, azurite, 
                                                                                                      cuprite, and tenorite, all associated with a NE 
                                                                                                      trending fault (062o to 242o) that is intruded by a 
                                                                                                      porphyry dyke. 
 
 
                                                                                                 *    The mineralised porphyry dyke is vertical to near 
                                                                                                      vertical (85o), with the 'true width' dimensions 
                                                                                                      reaching up to 7m at surface. o At least 600m in 
                                                                                                      strike length, with strong Malachite staining 
                                                                                                      observed along the entire strike length, with 
                                                                                                      historical open pits having targeted approximately 
                                                                                                      200m of this strike. Exact depth of mining below the 
                                                                                                      original ground surface is not clear in the 
                                                                                                      historical documents, given the pits are not battered 
                                                                                                      it is anticipated that excavations have reached 5m to 
                                                                                                      10m beneath the original ground surface. 
 
 
                                                                                                 *    Associated with the porphyry dyke are zones of 
                                                                                                      fractured and/or sheared rock, the siltstones are 
                                                                                                      described as brecciated, and sandstones around the 
                                                                                                      shear as carbonaceous. 
 
 
                                                                                                 *    The known mineralisation from the exploration 
                                                                                                      activities to date had identified shallow supergene 
                                                                                                      mineralisation, with a few drillholes targeting 
                                                                                                      deeper mineralisation in and around the 200m of 
                                                                                                      strike historical open A strongly altered hanging 
                                                                                                      wall that contained malachite and cuprite nodules. 
                                                                                                      Chalcocite mineralization has been identified but it 
                                                                                                      is unclear on the prevalence of the Chalcocite; and 
                                                                                                      The mineralisation was amenable to high grade open 
                                                                                                      pit mining methods of the oxide mineralization (as 
                                                                                                      indicated by numerous historical open pit shallow 
                                                                                                      workings into the shear zone). 
 
 
                                                                                                 *    Desktop studies commissioned by CCZ and completed by 
                                                                                                      ROM Resources and SRK Exploration have determined 
                                                                                                      that the Big One prospect is prospective for Cuco, 
                                                                                                      and Ag. 
 
 
                                                                                                 *    Desktop studies commissioned by CCZ have determined 
                                                                                                      the Boomerang prospect contains: 
 
 
                                                                                                 *    Secondary copper staining over 800m of strike 
                                                                                                      length. 
 
 
                                                                                                 *    Associated with a major east-west trending fault that 
                                                                                                      juxtaposes the upper Surprise Creek Formation 
                                                                                                      sediments against both the underlying Bigie Formation 
                                                                                                      and the upper Quilalar Formation units. 
 
 
                                                                                                 *    At the 'Flapjack' prospect there is the potential 
                                                                                                      for: 
 
 
                                                                                                o Skarn mineralisation for Cu-Au and/or Zn-Pb-Cu 
                                                                                                from replacement carbonate mineralisation, 
                                                                                                particularly the Quilalar Formation. 
                                                                                                o Thermal Gold Auroele mineralisation is a 
                                                                                                potential model due to the high silica alteration 
                                                                                                in thermal aureole with contact of A-Type Weberra 
                                                                                                Granite - related to the Au mineralisation; 
                                                                                                and/or 
                                                                                                o IOCG mineralisation related to chloride-rich 
                                                                                                fluids. 
                                                                                                 *    At the 'Crescent' prospect there is the potential 
                                                                                                      for: 
 
 
                                                                                                o Skarn mineralisation for Cu-Au and/or Zn-Pb-Cu 
                                                                                                from replacement carbonate mineralisation, 
                                                                                                particularly the Quilalar Formation; and/or 
                                                                                                o Thermal Gold Auroele mineralisation is a 
                                                                                                potential model due to the high silica alteration 
                                                                                                in thermal aureole with contact of A-Type Weberra 
                                                                                                Granite - related to the Au mineralisation; 
                                                                                                and 
                                                                                                o IOCG mineralisation related to potassic rich 
                                                                                                fluids. 
                                                                                                 *    At the 'Arya' prospect there is the potential for: 
 
 
                                                                                                o Supergene mineralisation forming at the surface 
                                                                                                along the fault, fault breccia, and the Surprise 
                                                                                                Creek Formation 'PLrd' rock unit 
                                                                                                o ('Prd' historical). 
                                                                                                o Epigenetic replacement mineralisation for 
                                                                                                Cu (with minor components of other base metals 
                                                                                                and gold) from replacement carbonate mineralisation, 
                                                                                                particularly the Surprise Creek Formation. 
                                                                                                o Skarn mineralisation for Cu-Au and/or Zn-Pb-Cu 
                                                                                                from replacement carbonate mineralisation, 
                                                                                                particularly the Surprised Creek Formation; 
                                                                                                and/or 
                                                                                                o IOCG mineralisation related to chloride rich 
                                                                                                fluids. 
                                                                                                 *    A selection of publicly available QDEX documents / 
                                                                                                      historical exploration reports have been reviewed, 
                                                                                                      refer to Section 2, sub-section "Further Work" for 
                                                                                                      both actions in progress and proposed future actions. 
                 =================================================================  ======================================================================= 
 Drill hole 
  Information           *    A summary of all information material to the                   *    There are no new drillholes completed, although 
                             understanding of the exploration results including a                fourteen (14) are planned. There is no historical 
                             tabulation of the following information for all                     drilling at Ayra. 
                             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 
 aggregation        *    In reporting Exploration Results, weighting averaging              *    No data aggregation methods are utilised in the 
 methods                 techniques, maximum and/or minimum grade truncations                    current ASX Release, since the sampling types are 
                         (eg cutting of high grades) and cut-off grades are                      surface samples (for example: rock chip samples). 
                         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            *    These relationships are particularly important in the              *    The strike of the country rock is northeast to east, 
 mineralisation          reporting of Exploration Results.                                       with the deep Ayra conductor is orientated east - 
 widths and                                                                                      west. The smaller, shallower conductors strike 
 intercept                                                                                       north-northeast to northeast. The main faulting 
 lengths            *    If the geometry of the mineralisation with respect to                   trends is northeast. 
                         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                          *    Appropriate diagrams are presented in the body and 
                         tabulations of intercepts should be included for any                          the Appendices of the current ASX Release. Where 
                         significant discovery being reported These should                             scales are absent from the diagram, grids have been 
                         include, but not be limited to a plan view of drill                           included and clearly labelled to act as a scale for 
                         hole collar locations and appropriate sectional                               distance. 
                         views. 
 
                                                                                                  *    Maps and Plans presented in the current ASX Release 
                                                                                                       are in MGA94 Zone 54, Eastings (mN), and Northing 
                                                                                                       (mN), unless clearly labelled otherwise. 
                 =================================================================  ======================================================================= 
 Balanced 
  reporting         *    Where comprehensive reporting of all Exploration                   *    All surface sampling and ground and airborne 
                         Results is not practicable, representative reporting                    geophysical data has been reported, there have been 
                         of both low and high grades and/or widths should be                     no results withheld. 
                         practiced to avoid misleading reporting of 
                         Exploration Results. 
                 =================================================================  ======================================================================= 
 Other                                                                                    GEOTEM & PROTEM: 
 substantive            *    Other exploration data, if meaningful and material,            *    The airborne electromagnetic GEOTEM geophysical 
 exploration                 should be reported including (but not limited to):                  survey undertaken by BHP Minerals in 1997 on 
 data                        geological observations; geophysical survey results;                historical tenure EPM11383 & EPM1152. A total of 
                             geochemical survey results; bulk samples - size and                 726-line kilometres were flown on a SE-NW, flown by 
                             method of treatment; metallurgical test results; bulk               'Geoterrex-Dighem Pty Limited' at a mean height of 
                             density, groundwater, geotechnical and rock                         approximately 105m above the ground surface (line 
                             characteristics; potential deleterious or                           spacing 500m apart). Previous interpretations the 
                             contaminating substances.                                           penetration of the GEOTEM method to have an estimated 
                                                                                                 range of between 200-300m below the ground surface, 
                                                                                                 this is dependent on conductivity contrasts, size, 
                                                                                                 and attitude of the subsurface targets. Eleven (11) 
                                                                                                 anomalies were identified, with four (4) recommended 
                                                                                                 for follow up, with three (3) of the four (4) 
                                                                                                 anomalies followed up by ground geophysical at what 
                                                                                                 CCZ calls the 'Arya' prospect. The BHP Minerals 1997 
                                                                                                 GEOTEM survey information was extracted from QDEX 
                                                                                                 Data to accompany the QDEX report information. 
 
 
                                                                                            *    The 'Arya' prospect anomalies are EG01, EG02, EG10, 
                                                                                                 with the geophysical observations of the body and 
                                                                                                 Appendices of the current ASX Release, including the 
                                                                                                 PROTEM observations. The PROTEM observations are 
                                                                                                 anticipated to have a deeper penetration than the 
                                                                                                 GEOTEM observations, based on the PROTEM loop, survey 
                                                                                                 traverse, and/or depth sounding method applied. 
 
 
 
                                                                                           QUESTEM & GENIE-EM: 
 
                                                                                            *    The airborne electromagnetic GEOTEM geophysical 
                                                                                                 survey undertaken by Mount Isa Mines in 1991 on 
                                                                                                 historical tenure EPM7448, EPM7338, and EPM7863. A 
                                                                                                 total of approximately 600km-line kilometres (exact 
                                                                                                 line length would need to be extracted from digitised 
                                                                                                 images) would were flown on a SE-NW, flown by 
                                                                                                 'Aerodata Holdings Limited' at a mean height of 
                                                                                                 approximately 120m above the ground surface (line 
                                                                                                 spacing 400m apart). In a previous ASX release (July 
                                                                                                 2020) Xplore Resources Pty Ltd interprets the 
                                                                                                 penetration of the QUESTEM method to have an 
                                                                                                 estimated range of between 200-300m below the ground 
                                                                                                 surface, this is dependent on conductivity contrasts, 
                                                                                                 size, and attitude of the subsurface targets. 
                                                                                                 Twentynine (29) anomalies were identified across the 
                                                                                                 three (3) historical tenure, with six (6) recommended 
                                                                                                 for follow up ground geophysical survey for 
                                                                                                 historical tenure EPM7448, and one of these L4 near 
                                                                                                 the Arya prospect. 
 
 
                                                                                            *    Arya prospect anomaly L4 followed up by a ground 
                                                                                                 electromagnetic traverse by Mount Isa Mines GENIE-EM 
                                                                                                 is to the west of the EG02 BHP minerals anomaly. 
 
 
                                                                                            *    Queensland Government Data: 'PLrd' rock unit lower 
                                                                                                 boundary from the Surprise Creek Formation sourced 
                                                                                                 from QSpatial and aligns with GeoResGlobe - this is 
                                                                                                 equivalent to the historical tenure reports 'Prd' 
                                                                                                 rock unit lower boundary from the Surprise Creek 
                                                                                                 Formation. 
 
 
 
                                                                                           GEODISCOVERY REVIEW 
 
                                                                                           The study of Nelson (2021) concluded that: 
                                                                                            *    Whilst hard copies of the 1997 BHP ground EM data are 
                                                                                                 available, no digital data is on open file. Hard copy 
                                                                                                 profiles have been visually interpreted, however due 
                                                                                                 to lack of digital data it cannot be remodelled. The 
                                                                                                 historic BHP model results and survey locations have 
                                                                                                 not been provided and there is uncertainty in the 
                                                                                                 location of Anomaly E02. 
 
 
                                                                                            *    Magnetic modelling, CDI and LEI of the TEMPEST survey 
                                                                                                 line indicate the BHP depth estimate of conductive 
                                                                                                 from the EG01 sounding is likely over estimated. 
                                                                                                 Depth to main conductive sources appears to be 
                                                                                                 between around 200m beneath surface (Nelson (2021). 
 
 
                                                                                            *    EG02 appears to be associated with a fault and EG10 
                                                                                                 appears to be more surficial. 
 
 
                                                                                            *    It is recommended that the LEI of the TEMPEST survey 
                                                                                                 (most recent AEM data acquired in the region), along 
                                                                                                 with magnetic model output be used to plan the next 
                                                                                                 drill campaign (Figure 10 - 12). The current drill 
                                                                                                 plan could be improved to better test the modelled 
                                                                                                 conductive sources and structural features. 
 
 
                                                                                            *    If the drill testing of the conductive sources 
                                                                                                 indicates the presence of prospective lithologies 
                                                                                                 and/or mineralisation, then consideration should be 
                                                                                                 given to acquiring detailed ground EM and magnetic 
                                                                                                 coverage to further assist targeting. 
 
 
                                                                                           Figures A2-1 to A2-4 illustrate the above conclusions. 
                 =================================================================  ======================================================================= 
 Further 
  work              *    The nature and scale of planned further work (eg                               *    Further work will consist of a combination of: 
                         tests for lateral extensions or depth extensions or 
                         large-scale step-out drilling). 
                                                                                                       o Fourteen (14) hole RC drilling Program 
                                                                                                       o Soil and or Rock chip sampling 
                    *    Diagrams clearly highlighting the areas of possible                           o Ground IP or EM Survey 
                         extensions, including the main geological 
                         interpretations and future drilling areas, provided 
                         this information is not commercially sensitive. 
                 =================================================================  ======================================================================= 
 

TABLE A2-1: AYRA PROPOSED DRILLING DETAILS

 
 Site ID      Order   Easting   Northing   Property        Lot         Property Name and Assay 
 2021_AR01             353658    7864556   Stanbroke       10SP28770   Kamilaroi 
             ======  ========  =========  ==============  ==========  ========================== 
 2021_AR02             353576    7864727   Stanbroke       10SP28770   Kamilaroi 
             ======  ========  =========  ==============  ==========  ========================== 
 2021_AR03             353382    7865215   Stanbroke       10SP28770   Kamilaroi 
             ======  ========  =========  ==============  ==========  ========================== 
                                                                       Kamilaroi | Zn: 127ppm 
 2021_AR04      5      353492    7865316   Stanbroke       10SP28770    | TD TBC 
             ======  ========  =========  ==============  ==========  ========================== 
 2021_AR05             353238    7865378   Stanbroke       10SP28770   Kamilaroi 
             ======  ========  =========  ==============  ==========  ========================== 
 2021_AR06             353255    7865419   Stanbroke       10SP28770   Kamilaroi 
             ======  ========  =========  ==============  ==========  ========================== 
 2021_AR07             353455    7865843   E Butterworth   2510PH461   Morella 
             ======  ========  =========  ==============  ==========  ========================== 
                                                                       Kamilaroi |Cu: 97ppm |TD: 
 2021_AR08      3      352987    7865441   Stanbroke       10SP28770    TBC 
             ======  ========  =========  ==============  ==========  ========================== 
                                                                       Kamilaroi | Cu: 145ppm 
 2021_AR09      4      353032    7865535   Stanbroke       10SP28770    | TD: 250m 
             ======  ========  =========  ==============  ==========  ========================== 
 2021_AR10             353109    7865718   E Butterworth   2510PH461   Morella 
             ======  ========  =========  ==============  ==========  ========================== 
 2021_AR11             353166    7865923   E Butterworth   2510PH461   Morella 
             ======  ========  =========  ==============  ==========  ========================== 
 2021_AR12             352753    7865543   Stanbroke       10SP28770   Kamilaroi 
             ======  ========  =========  ==============  ==========  ========================== 
                                                                       Kamilaroi | Zn: 108ppm 
 2021_AR13      2      352768    7865581   Stanbroke       10SP28770    | TD: TBC 
             ======  ========  =========  ==============  ==========  ========================== 
 2021_AR14             352508    7865519   Stanbroke       10SP28770   Kamilaroi 
             ======  ========  =========  ==============  ==========  ========================== 
 2021_AR15             352535    7865604   Stanbroke       10SP28770   Kamilaroi 
             ======  ========  =========  ==============  ==========  ========================== 
 2021_AR16             352606    7865843   E Butterworth   2510PH461   Morella 
             ======  ========  =========  ==============  ==========  ========================== 
 2021_AR17             352350    7865645   Stanbroke       10SP28770   Kamilaroi 
             ======  ========  =========  ==============  ==========  ========================== 
 2021_AR18             352270    7865784   E Butterworth   2510PH461   Morella 
             ======  ========  =========  ==============  ==========  ========================== 
 2021_AR19             352098    7865746   E Butterworth   2510PH461   Morella 
             ======  ========  =========  ==============  ==========  ========================== 
 2021_AR20             351797    7865527   Stanbroke       10SP28770   Kamilaroi 
             ======  ========  =========  ==============  ==========  ========================== 
                                                                       Kamilaroi | Cu: 128 ppm 
 2021_AR21      1      351773    7865660   Stanbroke       10SP28770    | TD: 250m 
             ======  ========  =========  ==============  ==========  ========================== 
 2021_AR22             351926    7865895   E Butterworth   2510PH461   Morella 
             ======  ========  =========  ==============  ==========  ========================== 
 2021_AR23             351576    7865619   Stanbroke       10SP28770   Kamilaroi 
             ======  ========  =========  ==============  ==========  ========================== 
 

Source: CCZ geology team

FIGURE A2-1: CROS-SECTION THROUGH MAGNETIC SUSCEPTIBILITY MODEL ( Available to view on ASX announcement)

FIGURE A2-2: CROSS-SECTION OF MAGNETIC SUSCEPTIBILITY TAKING INTO ACCOUNT INDUCED AND REMANENT MAGNETIC FIELD ( Available to view on ASX announcement)

FIGURE A2-3: EXTRACTED AUSAEM CONDUCTIVITY DEPTH IMAGE AT AYRA PROJECT ( Available to view on ASX announcement)

FIGURE A2-4: ISOMETRIC VIEW OF CONDUCTIVITY SECTION AND MAGNETIC ANOMALY, LOOKING NORTHWEST ( Available to view on ASX announcement)

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