Ann: Continuity of High-Grade Au-Cu Breccia Intersected at Boda, page-130

A bit of history trawling through past ALK announcements back to 1998 regarding the NMPP. Not sure if anyone is interested. If not just ignore this post.

The key point from the historical announcements is that they initially focused around Comobella and then Kaiser and it was only in the last few years (since 2016 that they focused on Boda). There seems to besignificant potential around Comobella, Kaiser and Finns Crossing as these pastannouncements demonstrate. It is also clear that ALK found quite a lot of material shallow mineralisation at depths from 0m to 200m at the Kaiser and Comobellacomplexes but never followed up with any drilling since 2012 for Comobella and 2016/17 for Kaiser (until recently). As far as I can tell ALK has never undertaken any drilling at Finns Crossing nor has there ever been any drilling undertaken as it seems to be a tenure ALK applied for.

This is the announcement on 18 January 2004 of ALK’s purchase of the first part of the NMPP project called Bodangora from RIO. Look at the map on the second last page (page 6) which shows the outline – note that it is a different shape to the current holding and appears to include the historical mine of Bodangora, which is now owned by MAG – I could not find anything in ALK’s announcements that it had disposed of part of the tenure. Also note that it excluded the historical mine area of Kaiser which ALK purchased in early Jan 2014. In the June quarter 2014 ALK also purchased Finns Crossing.

Of interest on page 2 is the statements about the historical Bodangora historical mine and the statement “Rio Tinto outlined several other targets which included Skarn mineralisation and an extensive zone of alterationat Comobella which RC drilling has indicated broad intercepts of gold-copper, with narrower high-grade values. It is also interesting the Rio was targeting North Parkes like type porphyry copper-gold models.

https://www.asx.com.au/asxpdf/20040108/pdf/3k9k1gqhdk1dh.pdf

The next announcement around end of April 2010 on page 7 notes: “.. at the Comobella prospect where surface mapping has previously identified several monzonitic intrusive bodies, hydrothermal breccias andskarns with associated surface gold and copper mineralisation”.

https://www.asx.com.au/asxpdf/20100429/pdf/31q0s4792wrsf0.pdf

The next announcement in late July 2010 on page 7 sets out more details around Comobella and emphasises some of the previous announcement.

https://www.asx.com.au/asxpdf/20100722/pdf/31rfyjcxyl1npb.pdf

The next announcement on 19 April 2011 sets out drilling results at Glen Hollow (part of Comobella complex). Note on page 2 that test drilling near the Bodangora” failed to find any potential economic mineralisation” suggesting they did own the area around the old Bodangora mine (now owned by MAG). The mineralisation found in the drilling was shallow (from 45m) of 45m at 0.9g/t AU and 0.24% CU plus 21m at 1.51g/t AU and 0.41% Cu..

https://www.asx.com.au/asxpdf/20110419/pdf/41y4862d4r717b.pdf

The next announcement on 1 February 2012 contained more indications of mineralisation which were encouraging.

https://www.asx.com.au/asxpdf/20120201/pdf/42435gr6qv4yh9.pdf

The next announcement on 8 April 2014 set out drilling results at Kaiser and the McGregor prospect. The results were shallow and include 60m at 0.81g/t Au and 0.91% Cu from 0m.

https://www.asx.com.au/asxpdf/20140408/pdf/42nw5zssh8d65g.pdf

The next announcement on 21 January 2015 sets out drilling results from Kaiser (ie Duke prospect) which were encourage and shallow (ie 70m to 200m).

https://www.asx.com.au/asxpdf/20150121/pdf/42w2xhd4ctjrd1.pdf

The next announcement on 6 May 2016 sets out results from the first drilling at Boda and drilling at Kaiser and Belgium. At Boda the results were 311m at 0.28g/t Au and .0.06% Cu from 19m and Kaiser 111m at 0.61g/t and 0.08% Cu from 42m.

https://www.asx.com.au/asxpdf/20160506/pdf/4371zqz3p62kmz.pdf

On 3 April 2017 further drilling results at Boda and on 15 August 2017 they announced results of one diamond hole at each of Kaiser and Boda.

No more drilling was undertaken until the Boda discovery hole announcement in September 2019. The announcement on 27 April 2018 (page 10) noted drilling at Kaiser/Boda was delayed due to construction of a wind farm. It also referred to Skarns at Finns crossing.

https://investors.alkane.com.au/site/PDF/68f5c94a-19e1-4951-9da1-325a5d4f2481/QuarterlyActivitiesReport

Note there were many lengthy periods of no activity at the NMPP and when there was activity it was usually limited to a few holes.