Ann: Drill Results Confirm Major Extension Potential at Makuutu, page-24

Have been running over the results with a finer tooth comb and have highlighted some of the more impressive areas of note and the respective drill hole.

Hole19 - 4m's at 1250ppm - very good HREO content
Hole26 - 4m's at 900ppm - good HREO content
Hole28 - 2m's at 1500ppm - excellent HREO content
Hole31 - 4m's at 1230ppm - excellent HREO content
Hole36 - 6m's at 1330ppm - excellent HREO content.
Hole45- 4m's at 1145ppm - excellent HREO content.
Hole50 - 4m at 1170ppm - good HREO content.




I obviously can't share the native file, but essentially i started filtering out for really high grades zone.
Also filtered for our high value elements. Naturally, a higher TREO means higher HREO PPM.

What is quite positive is where 2 percentages at the end.

HREO/TREO shows where your PPM is HREO is high compared to overall grade. This generally means its the goods. But Nd/Pr are our higher value element even though they are LREO. So as you can see in terms of PPM and view in conjunction with overall PPM etc.

Why did i bother doing this? Well some of these holes i mentioned area quite large spatially.
Hole 19 is over in the east. 1-1.5km's from any other results. You can effectively have a 4m layer within 10m's of clay which could extend 1km by 1km wide. That would be 4mT @ 1000ppm plus. = 4000TCT of TREO. Recalling that 4000Tonnes was our annual output at max throughput. Also note not all the 4mt recovers and you end up with about half that as the output.

I guess I wanted to show that even these small 4m or 6m intercepts could extend 200x500x1000m from the intercept and actually be fairly substantial zonations.

We have AR3 which entirely resource is around 3-4m's thick and more overburden i think grades were 500-600ppm. We get to dig through 400-600ppm of clay and process that dirt and then there's 4m's of really high grade stuff in between.

When i totalled all the drill results and applied a cutoff of 200ppm. the overall ppm was around 600ppm. This includes results from where we plan on building the plant. I think we might land around 600-650ppm for the new area overall, which is actually inline with our current JORC.

Will cleanse more of the data tonight. People can view the other hole i've mentioned and look at where they are located in our tenements. Most are step-out from existing resources. Some are eastern tenement based.

SF2TH