Ann: Approval Received to Resume Licensing Process at Salobo West, page-80

Just a Quick reminder what where going back to drill very soon guys
AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT & MEDIA RELEASE
Intersections were arrived at using a 0.50% nickel or 0.08% cobalt cut‐off and 2m maximum internal waste:
 10.0m @ 1.03% nickel and 0.21% cobalt (1.95% Nieq) from surface in ITAP‐RC‐18‐025;
 14.0m @ 1.73% nickel and 0.05% cobalt (1.93% Nieq) from 4.0m in ITAP‐RC‐18‐011;
 30.0m @ 1.48% nickel and 0.09% cobalt (1.84% Nieq) from 10.0m in ITAP‐RC‐18‐128;
 13.0m @ 1.08% nickel and 0.17% cobalt (1.81% Nieq) from 2.0m in ITAP‐RC‐18‐001;
 12.0m @ 0.94% nickel and 0.19% cobalt (1.80% Nieq) from 2.0m in ITAP‐RC‐18‐002;
 32.0m @ 1.02% nickel and 0.13% cobalt (1.57% Nieq) from surface in ITAP‐RC‐18‐127;
 18.0m @ 1.05% nickel and 0.11% cobalt (1.52% Nieq) from surface in ITAP‐RC‐18‐004;
 20.0m @ 0.98% nickel and 0.11% cobalt (1.47% Nieq) from 2.0m in ITAP‐RC‐18‐092;
 26.0m @ 1.23% nickel and 0.06% cobalt (1.46% Nieq) from 5.0m in ITAP‐RC‐18‐129;
 21.0m @ 1.01% nickel and 0.09% cobalt (1.38% Nieq) from surface in ITAP‐RC‐18‐138;
 15.0m @ 1.06% nickel and 0.07% cobalt (1.34% Nieq) from 12.0m in ITAP‐RC‐18‐150;
 19.0m @ 1.04% nickel and 0.07% cobalt (1.32% Nieq) from surface in ITAP‐RC‐18‐046;
 16.0m @ 1.05% nickel and 0.06% cobalt (1.32% Nieq) from 1.0m in ITAP‐RC‐18‐140;
 33.0m @ 0.77% nickel and 0.12% cobalt (1.31% Nieq) from surface in ITAP‐RC‐18‐139;
 24.0m @ 0.94% nickel and 0.08% cobalt (1.27% Nieq) from surface in ITAP‐RC‐18‐006;
 30.0m @ 0.90% nickel and 0.04% cobalt (1.05% Nieq) from 12.0m in ITAP‐RC‐18‐114;
 21.0m @ 0.75% nickel and 0.06% cobalt (1.02% Nieq) from 4.0m in ITAP‐RC‐18‐089;
 30.0m @ 0.92% nickel and 0.02% cobalt (0.99% Nieq) from 10.0m in ITAP‐RC‐18‐042;
 28.0m @ 0.74% nickel and 0.05% cobalt (0.96% Nieq) from surface in ITAP‐RC‐18‐136; and
 23.0m @ 0.81% nickel and 0.03% cobalt (0.91% Nieq) from 5.0m in ITAP‐RC‐18‐078.
Importantly all these intersections commence at, or very close to, surface with very little overburden sitting above the currently outlined Exploration Target, which bodes well for a low strip open pit mining case.
Figure 1 below shows the location of significant intersections from the current batch of assay results as well as the aforementioned intersections. Tables 1 and 2 include the full set of RC drill results received from the Itapitanga Project.
New Targets
While the RC drill rig is occupied on the Pebas Copper‐Gold Project, the Company is in the process of working up multiple new targets ahead of the next round of RC drilling.
Daniels’ Creek and Wetlands
It is clear that mineralised intercepts are broader and of higher nickel and cobalt grades at the ultramafic intrusion limits or in association with cross‐cutting structural features. These contacts and structures have facilitated the supergene process which furthers the concentration of the nickel and cobalt mineralisation.
This is best demonstrated at the Daniel’s Creek Fault zone, where the Project’s best intercepts were generated.
The high‐grade mineralisation extends beneath Daniel’s Creek between the North and South zones of the Northern Target. There is more than 300m of untested strike potential within the Daniel’s Creek Fault zone alone.
The current drilling permits do not allow RC drilling in this vegetated wetland. A hand‐held auger program is currently operating to test the area where access is possible (see Figure 1). Furthermore, the Company has lodged the appropriate applications for RC drilling of the vegetated wetland and is working with the local agencies to expedite this licence.