Ann: End of Hole High-Grade Niobium Results Expand Emily, page-6

At the AGM WR mentioned something about Emily that puzzled me. I had assumed all assays were already reported and Line 1 was a complete duster. Obviously this was not the case.

While patchy, it does leave at least 2-400m west of Line 1 open to further testing . Two very wide spaced holes 400m west of Line 1 (99/101) both had no significant assays.
Infill potential for 1400m to the east of line 3 where drilling to date is at 400m spacing. Potential probably more on WA1 side of boundary going further east.

Difficult to know if assays are available or not being reported as below the cut off for announcing. I would assume all the 200 series aircore have been assayed but can't be certain.

With AC the end of hole will commonly be refusal for a "blade" bit near the weathered/fresh rock interface. More powerful AC rigs with hammer drills may be used next years as well as carrying more rods than the 135m available this year. Suspect it might have been the match of capacity for the rig being used as they could have brought more in. Drilling deeper with AC and or AC hammer probably begins to push the cost up into the range of RC rigs so a logistical balancing act...maybe.
End of hole grade. Chances of high grade continuing? Moderate, but probably more examples of the +2% grades stopping soon after refusal (both ENR and WA1). Broad zones moderate to low grade do continue as shown in the sections in the announcement (=Lines 3 and 4). Separate zones of high grade do kick in as seen in WA1 Hole 52 below. No rule which means drilling to test if considered worth the effort at this stage IMO.

The dashed white line may be a rough outline of grade and/or carbonatite with marginal fenite alteration +- carbonatite dyking to the North. Suspect the connection Luni to Emily is relatively narrow and perhaps discontinuous (Line 5 S area in particular). Will be interesting to see results for WA1's drilling west of Hole 52/51



Basically all available assays at ~1% cut off sorted by line number (W-E) and hole
Note the majority of holes were drilled grid south at -60 degrees so surface projections need to be considered.

	Hole ID	from (m)	to (m)	interval (m)	Nb2O5 %	TREO %	line
1	EAL732	58	60	2	1.1	0.1	1
2	EAL732	62	64	2	1.2	0.2	1
3	EAL733	38	62	24	2	0.3	1
4	EAL733	38	50	12	3.4	0.5	1
5	EAL733	60	62	2	2	0.1	1
6	EAL733	68	100*	32	1.2	0.2	1
7	EAL733	68	78	10	2.1	0.3	1
8	EAL733	84	86	2	1.5	0.2	1
9	EAL733	88	90	2	1.8	0.1	1
10	EAL740	106	114*	8	1.1	0.4	2
11	EAL740	108	112*	4	1.6	0.5	2
12	EAL743	46	50	4	1.3	0.3	2
13	EAL743	46	48	2	2.4	0.4	2
14	EAL745	100	102	2	2	0	2
15	EAL098	54	66	12	2.33	0.85	3
16	EAL098	54	56	2	6.28	2.51	3
17	EAL098	112	114	2	1.14	0.18	3
18	EAL098	124	126	2	1.33	0.48	3
19	EAL225	41	61	20	2.7	0.8	3
20	EAL225	49	61	12	3.9	1.1	3
21	EAL259	36	63*	27	3.7	1.2	3
22	EAL259	40	63*	23	4.2	1.4	3
23	EAL260	50	66	16	2.7	1	3
24	EAL260	50	54	4	3.7	1.7	3
25	EAL260	56	60	4	3.7	1.1	3
26	EAL260	62	64	2	2.2	0.6	3
27	EAL136	34	66	32	0.98	0.25	4
28	EAL136	34	38	4	1.49	0.24	4
29	EAL136	48	66	18	1.18	0.33	4
30	EAL218	38	42	4	1.6	0.2	4
31	EAL261	28	32	4	1.1	0.3	4
32	EAL203	36	51*	15	1.4	0.4	6
33	EAL203	38	46	8	1.9	0.5	6

Hole 52 - WA1 reported assays - open to West towards Emily.

	Hole ID	From (m)	To (m)	Interval (m)	Nb_{2} O_{5} (%)	TREO (%)
1	LURC23052	30	120	90	0.87	0.23
2	LURC23052	42	54	12	1.91	0.44
3	LURC23052	60	67	7	2.02	0.46
4	LURC23052	78	89	11	1.4	0.35
5	LURC23052	97	98	1	2.21	0.88
6	LURC23052	119	120	1	1.85	0.54

Today's results would roughly double the exploration target for Emily with the heavy red outline at some 235,000 sq m vs the previous 100K sq m.. Very rough figures to be taken with a very large pinch of salt.

Would roughly match the arm waving numbers by WR at the AGM. Such arm waving numbers do come from 3D modelling, in some cases, so are give the boards a good idea of what might be possible even if ASX rules prevent releasing them.

	AREA	HOLES/LINES	AREA SQm	THICK	SG 1.7	TONNES	GRADE
1	GREEN 1	489 500	45000	10	1.7	765,000	4
2	GREEN 2	432323	67000	4	1.7	455,600	2
3	GREEN 3	Z2 L4-7	150000	10	1.7	2,550,000	2
4	GREEN 4	340	20000	20	1.7	680,000	1
5	GREEN 5	Z1 510 362 530	60000	10	1.7	1,020,000	1.5
6
7						5,470,600	2.06
8
9	EMILY		235000	15	1.7	5,992,500	2
10
11
12
13	CREAN W1		30000	25	1.7	1,275,000	2
14	CREAN W2		40000	15	1.7	1,020,000	1
15	CREAN E		30000	10	1.7	510,000	1
16
17						2,805,000	1.45
18
19	AREA		TONNES	GRADE			ton%
20	EMILY		11,000,000	1.70			18700000
21	GREEN		5,470,600	2.06			11281200
22	CREAN		2,805,000	1.45			4080000
23
24	TOTAL		19,275,600	1.77			34061200