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Thor Mining PLC Alford East Agreement

20/11/2020 9:48am

UK Regulatory (RNS & others)


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TIDMTHR

RNS Number : 0192G

Thor Mining PLC

20 November 2020

20 November 2020

THOR MINING PLC

Alford East, South Australia

The directors of Thor Mining Plc ("Thor") (AIM, ASX: THR) are pleased to advise that Thor has executed a binding term sheet for Thor to acquire an interest in the oxide mineral rights from Spencer Metals Pty Ltd ("Spencer") over the Alford East copper-gold project, located on the Yorke Peninsula, South Australia.

Highlights:

-- Thor to acquire up to 80% interest directly in the Alford East Project, covering portions of EL6255 and EL6259);

-- The Alford East Project comprises numerous oxide copper-gold prospects including Alford East, Netherleigh Park and Netherleigh North, each with extensive previous drilling. Copper-oxide intercepts include:

-- 122m @ 0.63% Cu from 95m (ALDDH09) including 14m @ 2.26% Cu from 111m

-- 76m @ 0.95% Cu from 138m (ALDDH01) including 14m @ 2.18% Cu from 146m

-- 14m @ 1.5% Cu from 162m, and 34m @ 0.5% Cu from 190m (MPBD3).

-- The Alford East Project covers the northern extension of Alford Copper Belt, where to the south west EnviroCopper Ltd has reported an Inferred Mineral Resource of 66.1Mt @ 0.17% Cu for three deposits Wombat, Bruce and Larwood (THR:ASX Announcement 15 August 2019);

-- The Alford Copper Belt is a coherent zone of potentially In Situ Recovery (ISR) amenable copper-gold oxide mineralization, within a structurally controlled north-south trending trough of deeply kaolinized and oxidized metamorphic units on the edge of the Tickera Granite;

-- Multiple substantial 'walk up' drill ready targets.

Mick Billing, Executive Chairman of Thor Mining, commented:

"The directors of Thor have taken the view that global copper demand and pricing, with the potential for post COVID19 economic recovery, should improve substantially in both the short and medium term, and have moved to increase the Company's exposure to potential low cost copper production projects."

"The Alford East project, the directors believe, represents a continuation of the favourable geology which hosts the Alford West resources, which Thor has exposure to via our interest in EnviroCopper Ltd (Thor 30% equity)."

"Several prospects at Alford East have substantial drilling history, providing evidence of both extensive mineralisation, and geology of a type, which subject to further work, appears potentially amenable to Insitu Recovery (ISR) techniques."

A map showing the project location and its proximity to the Alford West project subject to the joint venture earnin by EnviroCopper Limited can be accessed from the Thor website via the attached link:

www.thormining.com/sites/thormining/media/Maps/20-005-1a-alfors-east-jv.jpg

Agreement Structure and Commercial Terms

Under the terms of the Agreement, Thor has been granted the right to explore for minerals on the agreed portions of the exploration licences (EL6255 and EL6259), and to conduct feasibility and development activities in respect thereto, and via funding expenditure on these activities, earn an interest of up to 80% over two stages directly in the project;

-- Upfront cash consideration of A$30,000 upon execution of the binding term sheet which has been paid;

-- Stage 1: Thor can earn a 51% interest by funding A$500,000 expenditure over 2 years to 11 November 2022, and for additional consideration of A$250,000 in fully paid Thor shares, issued at the 5 day ASX VWAP (volume weighted average price) on the date immediately prior to allotment, together with two free attaching options per share issued, exercisable at $0.03 within 5 years from the date of issue (Stage 1 expenditure);

-- Stage 2: earn a further 29% interest (80% in total) by funding an additional A$750,000 of expenditure over a subsequent 2 years to 11 November 2024 and for additional consideration of A$250,000 in fully paid Thor shares, issued at the 5 day ASX VWAP on the date immediately prior to allotment and two free attaching options per share issued, exercisable at a$0.03 within 5 years from the date of issue (Stage 2 expenditure). If Thor does not proceed with the Stage 2 earn-in, then its interest in the project is relinquished;

-- Upon Thor completing the acquisition of an 80% interest in the project, Spencer will hold a free carried 20% interest in the project until decision to mine;

-- The parties have agreed to use reasonable commercial endeavours to negotiate and execute a formal Joint Venture Agreement for the development and operation of a mine and associated facilities within 60 days from the end of Stage 2.

Copper-Gold Prospectivity

The Alford East Earn-in/Joint Venture covers portions of EL6259 and EL6255 and is interpreted as the northern extension of the Alford Copper Belt, comprising Alford East, Netherleigh Park and Netherleigh Park North prospects. The Alford Copper Belt is a coherent zone of copper-gold oxide mineralization; malachite, azurite, native copper and chalcocite within a structurally controlled north-south trending trough of deeply kaolinized and oxidized metamorphic units on the edge of the Tickera Granite. Kaolin and alunite overprints metasediment, granite and calc-silicate altered metasomatites. The timing of the argillic alteration is contentious and may be either a primary hydrothermal alteration assemblage or a product of deep weathering during the Tertiary.

In 1995, M.I.M Exploration discovered the Alford East Prospect when drilling diamond hole MPBD3 that reported significant copper oxide mineralization in four broad zones to the end of hole, including (Open File Report -ENV08660: Annual Technical Report M.I.M. Exploration 1996):

-- 20m @ 0.2% Cu from 64m,

-- 42m @ 0.3% Cu from 116m,

-- 14m @ 1.5% Cu from 162m(MPBD3), and

-- 34m @ 0.5% Cu from 190m(MPBD3).

Further drilling by joint venture partners of Argonaut Resources, Hillgrove Resources and Sandfire Resources from 2001 to 2015, intersected copper oxide mineralization at Alford East and a nearby prospect Netherleigh Park and reported intersections are shown on Table A.

Historic exploration over the Alford Copper Belt has focused on the IOCG sulphide mineralization beneath the interpreted oxide zone, however recent metallurgical testwork by EnviroCopper Ltd over their Alford West project, approximately 10km to the south west has highlighted the amenability of this copper-gold oxide mineralization to In situ Recovery (ISR) processes. Alford West has an ISR amenable Inferred Mineral Resource (MRE) of 66.1Mt @ 0.17% Cu, containing 114,000 tonnes of contained copper, at a cut-off grade of 0.05% Cu, covering Wombat, Bruce and Larwood deposits, (THR:ASX Announcement 15 August 2019). The amenability of this oxide mineralization within the deep weathered trough presents exciting opportunities for Thor to add further mineralization extensions over the Alford East Project.

Table A: Alford East Drill -Results from Argonaut Resources (ARE: ASX Announcement 9 Nov 2012)

 
 HOLE         Interval (m)*   Cu %        From (m) 
 ALDDH01      76              0.95        138 
             --------------  ----------  ----------- 
 including    14              2.18        146 
             --------------  ----------  ----------- 
 ALDDH04      20              0.75        131 
             --------------  ----------  ----------- 
 ALDDH09      122             0.63        95 
             --------------  ----------  ----------- 
 including    14              2.26        111 
             --------------  ----------  ----------- 
 ALDDH10      98              0.64        88 
             --------------  ----------  ----------- 
 including    54              0.86        88 
             --------------  ----------  ----------- 
 ALAC158      26              0.54        77 
             --------------  ----------  ------------- 
 ALAC160      18              0.5         75 
             --------------  ----------  ------------- 
 ALAC164      31              0.58        68 
             --------------  ----------  ------------- 
 ALAC197      67              0.72        8 
             --------------  ----------  ------------- 
 Including    21              1.01        10 
             --------------  ----------  ------------- 
 and          18              1.04        57 
             --------------  ----------  ------------- 
 
 

*Downhole Interval

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Enquiries:

 
Mick Billing    +61 (8) 7324  Thor Mining PLC  Executive Chairman 
                  1935 
 Ray Ridge       +61 (8) 7324  Thor Mining PLC  CFO/Company Secretary 
                  1935 
 Colin Aaronson  +44 (0) 207   Grant Thornton   Nominated Adviser 
                  383 5100      UK LLP 
 Nick Emerson    +44 (0) 1483  SI Capital Ltd   Broker 
                  413 500 
 

Competent Persons Report

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

About Thor Mining PLC

Thor Mining PLC (AIM, ASX: THR) is a resources company quoted on the AIM Market of the London Stock Exchange and on ASX in Australia.

Thor holds 100% of the advanced Molyhil tungsten project in the Northern Territory of Australia, for which an updated feasibility study in August 2018(1) suggested attractive returns.

Adjacent Molyhil, at Bonya, Thor holds a 40% interest in deposits of tungsten, copper, and vanadium, including Inferred resource estimates for the Bonya copper deposit, and the White Violet and Samarkand tungsten deposits(2).

Thor also holds a 30% interest in Australian copper development company EnviroCopper Limited, which in turn holds rights to earn up to a 75% interest in the mineral rights and claims over the resource on the portion of the historic Kapunda copper mine in South Australia recoverable by way of in situ recovery . EnviroCopper also holds rights to earn a 75% interest in portion of the Alford West copper project also in South Australia, and is also considered amenable to recovery by way of in situ recovery .

Thor holds 100% of the Pilot Mountain tungsten project in Nevada USA which has a JORC 2012 Indicated and Inferred Resources Estimate(3) on 2 of the 4 known deposits.

At the 100% owned Ragged Range Project in the Pilbara region of Western Australia, Thor has exciting early stage results for which gold and nickel drilling is planned."

"Thor holds mineral claims in the US states of Colorado and Utah with historical high grade uranium and vanadium drilling and production results."

Notes

(1) Refer ASX and AIM announcement of 23 August 2018

(2) Refer ASX and AIM announcement of 26 November 2018, and 29 January 2020

(3) Refer AIM announcement of 13 December 2018 and ASX announcement of 14 December 2018

Refer AIM announcement of 10 February 2016 and ASX announcement of 12 February 2018

Refer ASX and AIM announcement of 15 August 2019

JORC C ODE , 2012 E DITION - T ABLE 1

   1.1     Section 1 Sampling Techniques and Data 

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

 
     Criteria                        JORC Code explanation                                               Commentary 
     Sampling 
    techniques    *    Nature and quality of sampling (eg cut channels,         *    Historic drilling by Joodex and Uranez used RAB 
                       random chips, or specific specialised industry                drilling (436 RAB holes for 13,545.7m), North Broken 
                       standard measurement tools appropriate to the                 Hill used auger drilling (191 holes). Follow-up 
                       minerals under investigation, such as down hole gamma         drilling by Jododex drilled 3 angled and one vertical 
                       sondes, or hand held XRF instruments, etc) These              diamond hole, 890.23m. Follow up included diamond 
                       examples should not be taken as limiting the broad            hole by Uranez in 1986 was completed to 392.5m. 
                       meaning of sampling. 
 
                                                                                *    Historic Drilling - MIM (1993 -1997) - Diamond, 
                  *    Include reference to measures taken to ensure sample          reverse circulation and aircore drilling (was used to 
                       representivity and the appropriate calibration of any         obtain samples which were pulverised to produce sub 
                       measurement tools or systems used.                            samples for lab assay (Analabs SA). 
 
 
                  *    Aspects of the determination of mineralisation that      *    Historic Drilling - Sandfire, Hillgrove & Argonaut 
                       are Material to the Public Report.                            (2002-2014): 
 
 
                  *    In cases where 'industry standard' work has been done    *    AC drilling was used to obtain 1 m samples from which 
                       this would be relatively simple (eg 'reverse                  3 kg was pulverised to produce a 30 g charge for Au 
                       circulation drilling was used to obtain 1 m samples           fire assay AA21 and 48 element suite ME-MS61. Samples 
                       from which 3 kg was pulverised to produce a 30 g              submitted to ALS, SA. 
                       charge for fire assay'). In other cases more 
                       explanation may be required, such as where there is 
                       coarse gold that has inherent sampling problems.         *    Diamond drilling was half cored for Au fire assay 
                       Unusual commodities or mineralisation types (eg               AA21 and 48 element suite ME-MS61. Samples submitted 
                       submarine nodules) may warrant disclosure of detailed         to ALS, SA. Standard blank and duplicate inserted 
                       information.                                                  every 30 samples 
 
 
                                                                                *    There are no records indicating if any measures were 
                                                                                     taken to ensure sample representivity and the 
                                                                                     appropriate calibration of any measurement tools or 
                                                                                     systems used. 
 
 
                                                                                *    Mineralization is determined by descriptive logs for 
                                                                                     each AC, RC and diamond hole as well as the 
                                                                                     incorporation of assay results. 
 
 
                                                                                *    Historic Collar elevations were calculated using the 
                                                                                     TEISA DTM Grid in 2001. 
                ------------------------------------------------------------  ------------------------------------------------------------ 
   Drilling 
  Techniques      *    Drill type (air core, reverse circulation, open-hole      *    Drill methods included; auger, RAB, diamond coring, 
                       hammer, rotary air blast , auger, Bangka, sonic, etc)          reverse circulation and aircore. Some precollars for 
                       and details (eg core diameter, triple or standard              diamond holes were drilled using rotary mud 
                       tube, depth of diamond tails, face sampling bit or             methods.Hole diameters varied for different drilling 
                       other type, whether core is orientated and if so, by           methods. 
                       what method, etc). 
 
                                                                                 *    Some diamond core was triple tubed. 
 
 
                                                                                 *    Face sampling hammers were used for RC holes. 
 
 
                                                                                 *    Other details unknown 
                ------------------------------------------------------------  ------------------------------------------------------------ 
 Drill Sample 
   Recovery       *    Method of recording and assessing core and chip           *    Sample recoveries for historic drillholes unknown. 
                       sample recoveries and results assessed. 
 
 
                  *    Measures taken to maximise sample recovery and ensure 
                       representative nature of the sample. 
 
                                                                                 *    No relationship is known to exist between sample 
                  *    Whether a relationship exists between sample recovery          recovery and grade. 
                       and grade and whether sample bias may have occurred 
                       due to preferential loss/gain of coarse/fine 
                       material. 
                ------------------------------------------------------------  ------------------------------------------------------------ 
  Quality of 
  assay data      *    The nature, quality and appropriateness of the            *    MIM Drilling - Assayed for Au, As, Pb, Zn, Co Ni, Mo 
and laboratory         assaying and laboratory procedures used and whether                                  (GA101) 
    tests              the technique is considered partial or total. 
 
                                                                                               *    And U, F, La, Ce (GX401) 
                  *    For geophysical tools, spectrometers, handheld XRF 
                       instruments, etc, the parameters used in determining 
                       the analysis including instrument make and mode,          *    Sandfire, Argonaut & Hillgrove Drilling - fire assay 
                       reading times, calibration factors applied and their              for gold with four acid digest for 46 element 
                       derivation, etc.                                                                     package. 
 
 
                  *    Nature and quality control procedures adopted (eg         *    Duplicate, Blank and standard samples inserted every 
                       standards, blanks, duplicates, external laboratory             20 samples, were introduced into Sandfire, Argonaut 
                       checks) and whether acceptable levels of accuracy (ie              and Hillgrove drilling, while the laboratory 
                       lack of bias) and precision have been established.                completed double assays on many samples. QAQC 
                                                                                      measures undertaken by other companies (MIM) is not 
                                                                                                        generally known. 
 
 
                                                                                  *    Argonaut, Sandfire and Hillgrove and external ALS 
                                                                                       laboratory introduced QAQC samples, which indicate 
                                                                                      acceptable analytical accuracy. No QAQC is none for 
                                                                                                        MIM drillholes. 
                ------------------------------------------------------------  ------------------------------------------------------------ 
 Verification 
  of sampling     *    The verification of significant intersections by         *    All significant intersections have been verified by 
 and assaying          either independent or alternative company personnel.          an alternative company geologist. 
 
 
                  *    The use of twinned holes.                                *    There are no records of twinned drillholes 
 
 
                  *    Documentation of primary data, data entry procedures, 
                       data verification, data storage (physical or 
                       electronic) protocols. 
                                                                                *    No adjustments have been made to the laboratory assay 
                                                                                     data. 
                  *    Discuss any adjustment to assay data. 
                ------------------------------------------------------------  ------------------------------------------------------------ 
 Location of 
  data points     *    Accuracy and quality of surveys used to locate drill     *    Historic diamond drill hole collars were located from 
                       holes (collar and down-hole surveys), trenches, mine          original grids and the collars pegged using GPS with 
                       workings and other locations used in Mineral Resource         an accuracy of +/- 0.5 meters, 
                       estimation. 
 
                                                                                *    Downhole surveys were completed on all RC and diamond 
                  *    Specification of the grid system used.                        holes using a compass based instrument post 1996. 
                                                                                     Only 5 holes diamond holes prior to this date, have 
                                                                                     downhole survey information. 
                  *    Quality and adequacy of topographic control. 
 
                                                                                *    GDA94 (Zone 53) 
                ------------------------------------------------------------  ------------------------------------------------------------ 
 Data spacing 
     and          *    Data spacing for reporting of Exploration Results          *    The data spacing is considered sufficient to allow 
 distribution                                                                          confident interpretation of exploration results. 
 
                  *    Whether the data spacing and distribution is 
                       sufficient to establish the degree of geological and       *    No sample compositing has been applied. 
                       grade continuity appropriate for the Mineral Resource 
                       and Ore Reserve estimation procedure(s) and 
                       classification applied. 
 
 
                  *    Whether sample compositing has been applied. 
                ------------------------------------------------------------  ------------------------------------------------------------ 
 Orientation 
  of data in      *    Whether the orientation of sampling achieves unbiased    *    Drill lines are predominately oriented East-West. The 
  relation to            sampling of possible structures and the extent to           main mineralized structure strikes roughly north 
  geological            which this is known, considering the deposit type.           south and dips steeply to the East. 
   structure 
 
                  *    If the relationship between the drilling orientation 
                       and the orientation of key mineralised structures is 
                        considered to have introduced a sampling bias, this 
 
 
                               should be assessed and reported 
                                        if material. 
                ------------------------------------------------------------  ------------------------------------------------------------ 
    Sample 
   security        *    The measures taken to ensure sample security.            *    Measures for historic drillholes unknown. 
                ------------------------------------------------------------  ------------------------------------------------------------ 
  Audits or                                                                    *    No audits completed. 
    reviews        *    The results of any audits or reviews of sampling 
                        techniques and data 
                ------------------------------------------------------------  ------------------------------------------------------------ 
 
   1.1     Section 2 Reporting of Exploration Results 

(Criteria listed in the preceding section may apply to this section)

 
   Criteria                         JORC Code explanation                                               Commentary 
   Mineral 
   tenement        *    Type, reference name/number, location and ownership       *    The JV area covers portions EL6259 and EL6255 which 
   and land             including agreements of material issues with third             are 100% held by Spencer Metals Ltd. 
    tenure              parties such as joint ventures, overriding royalties, 
    status              native titles interests, historical sites, wilderness 
                        or national park and environmental settings.              *    PML 268 for aggregate & sand lies within EL6259 
 
 
                   *    The security of the tenure held at the time of            *    There are no non govt royalties, historical sites or 
                        reporting along with any known impediments to                  environmental issues. Underlying land title is 
                        obtaining a license to operate in the area.                    Freehold land which extinguishes native title. 
 
 
                                                                                  *    All tenure in good standing. 
                -------------------------------------------------------------  ------------------------------------------------------------ 
 Exploration 
 done by other     *    Acknowledgement and appraisal of exploration by other     *    The general area of this report has been explored in 
    parties             parties.                                                       the past by various companies including Jododex, 
                                                                                       Uranez, North Broken Hill, MIM, Hillgrove Resources, 
                                                                                       Argonaut Resources and Sandfire Resources. Activitie 
                                                                                 s 
                                                                                       include AC, RC, & Diamond drilling, and significant 
                                                                                       geophysical surveying. The Company has reviewed past 
                                                                                       exploration data generated by these companies. 
                -------------------------------------------------------------  ------------------------------------------------------------ 
   Geology      -- Deposit type, geological setting 
                 and style of mineralisation.                                    *    Deposits in the general region are considered to be 
                                                                                      of Iron Oxide Copper Gold (IOCG) affinity, related to 
                                                                                      the 1590Ma Hiltaba/GRV event. Cu-Au-Mo-Pb 
                                                                                      mineralisation is structurally controlled and 
                                                                                      associated with significant metasomatic alteration 
                                                                                      and deep weathering or kaolinisation of host rocks. 
                -------------------------------------------------------------  ------------------------------------------------------------ 
  Drill hole 
  Information       *    A summary of all information material to the            *    No tabulation of drillhole information is presented 
                         understanding of the exploration results including a         as the results are historical and the omission of 
                         tabulation of the following information for all              such detail does not detract from an investor's 
                         Material drill holes:                                        understanding of the report. Links and references to 
                                                                                      Open File reports are included in document. 
 
                   o Easting and northing of the drill 
                   collar 
                   o Elevation or RL (Reduced Level - elevation 
                   above sea level in meters) of the drill 
                   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 
                         thebasis 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    *    Intersections are calculated by simple averaging of 
   methods              techniques, maximum and/ or minimum grade truncations         1m assays. 
                        (eg cutting of high grades) and cut-off grades are 
                        usually Material and should be stated. 
                                                                                 *    No metal equivalents are reported. 
 
                   *    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 some detail. 
 
 
                   *    The assumptions used for any reporting of metal 
                        equivalent values should be clearly stated. 
                -------------------------------------------------------------  ------------------------------------------------------------ 
 Relationship 
   between         *    These relationships are particularly important in the    *    All companies noted the association of copper oxide 
mineralisation                    reporting of Exploration Results.                   mineralization with intense clay alteration. The 
  widths and                                                                          alteration is interpreted to be similar to that found 
  intercept                                                                           in the adjacent Alford West area. 
   lengths         *    If the geometry of the mineralisation with respect to 
                         the drill hole angle is known, its nature should be 
                                              reported.                          *    The drilling intersections quoted are downhole 
                                                                                      intercept lengths with an unknown orientation to dip 
                                                                                      and plunge of the target mineralization. 
                   *    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 plans and sections with scales appear as 
                        tabulations of intercepts should be included for any          in the report. 
                         significant discovery being reported. These should 
                         include, but not be limited to a plan view of drill 
                           hole collar locations and appropriate sectional 
 
 
                                          *    views. 
                -------------------------------------------------------------  ------------------------------------------------------------ 
   Balanced 
  Reporting        *    Where comprehensive reporting of all Exploration         *    The report summarizes publicly available open file 
                        Results is not practicable, representative reporting          results, not new results 
                        of both low and high grades and/or widths should be 
                        practiced to avoid misleading reporting of 
                        Exploration Results. 
                -------------------------------------------------------------  ------------------------------------------------------------ 
    Other 
 substantive       *    Other exploration data, if meaningful and material,      *    There is no other meaningful or material exploration 
 exploration            should be reported including (but not limited to):            data that has been omitted from the report. 
     data               geological observations; geophysical survey results; 
                        geochemical survey results; bulk samples - size and 
                        method of treatment; metallurgical test results; bulk 
                        density, ground water, geotechnical and rock 
                        characteristics; potential deleterious or 
                        contaminating substances. 
                -------------------------------------------------------------  ------------------------------------------------------------ 
 Further work 
                   *    The nature and scale of planned further work (eg         *    Further work may involve further drilling, mineral 
                        tests of lateral extensions or depth extensions or            resource estimation, followed by technical studies 
                        large scale step-out drilling).                               including lixiviant optimisation, permeability 
                                                                                      studies, etc 
 
                   *    Diagrams clearly highlighting the areas of possible 
                        extensions, including the main geological 
                        interpretations and future drilling areas, provided 
                        this information is not commercially sensitive. 
                -------------------------------------------------------------  ------------------------------------------------------------ 
 

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