Ann: Positive Assay Results Continue at Callisto Discovery, page-116

PdEq.m values can be calculated for the Flatreef section of the Bushveld Northern Limb’s Platreef being developed as a deep UG mine by Ivanhoe, from data in Ivanhoe’s “Platreef 2022 Feasibility Study”.

The main mineralised layer (T2MZ) has an average thickness of 25m at 1% 4E cut-off grade and combined with the Indicated Resource grades (at 1% COG) gives a PdEq.m figure of 102. This is not quite comparing apples with apples in the sense of comparing grade from a single drillhole with grade from a Resource estimate, but it does indicate to me that GAL were justified in labelling hole #266 a “discovery” hole with it’s 134 PdEq.m value.