Ann: March 2022 Quarterly Activities Report, page-2

This interpretation is supported with drill data from RKDD030 and
RKDD033 which both intersected mineralised intrusion below the Mawson fault, proximal to the new priority
target zones (see ASX Announcements 20 November 2020 and 1 December 2020 and Photo 1)

To refresh your memory from the end of 2020 !!!!!!!

From announcement 20 November 2020
RKDD030
Was designed to test the structural model of the Mawson chonolith extending west of
RKDD024 (see Figure 1). The hole intersected an upper intrusive package of **bronorite and
pegmatitic zones, followed by an intercalated zone of **bronorite and semi-pelitic gneiss, before
grading into an interleaved norite and mafic granulite. At 399.64m downhole the drillhole
intersected a highly prospective taxitic **bronorite assemblage with variable mineralised zones
of discrete Ni-Cu sulphide blebs and veins through to 470.94m downhole. Below this zone the
drillhole intersected fine grained norites to bottom of hole at a depth of 537.9m. DHTEM is now
scheduled for RKDD030.


From announcement 01 December 2020
RKDD033
Diamond drillhole RKDD033 was designed to test the northern extension of a strong 25,000-
70,000S off hole conductor identified from drillhole RKDD025, and was initially drilled to a depth of
422.4m and subsequently extended to 522.8m (see Figure 1 & Appendix 1). The hole intersected
minor **bronorite followed by a meta-BIF and psammopelitic package, before intersecting
prospective **bronorite to norite intrusive from199.45m – 320.15m. The intrusive package was
variably mineralised, including a narrow zone of massive Ni-Cu sulphide between 205.7m –
206.05m and a broad zone of disseminated Ni-Cu sulphide between 254.5m – 315.0m downhole.
A metasedimentary package below the intrusive package was cross-cut by the late-stage fault zone
identified in previous drillholes, before intersecting further mineralised **bronorite intrusive from
391.95m – 403.65m downhole. The mineralisation of this lower intrusive unit ranged from heavy
disseminated to net-textured Ni-Cu sulphide. This is a highly encouraging development as it is
confirmation the mineralised intrusive package is present below the fault.
DHTEM was completed in RKDD033 to a depth of 422.4m and modelling suggested the drillhole
missed the main massive sulphide accumulation previously identified in RKDD023 and identified
an off hole response associated with the Ni-Cu sulphide zone below the fault. The drillhole was reentered to extend the drillhole to allow for better constraining of the DHTEM feature associated
with the lower sulphide zone. Extension of RKDD033 has been completed and additional DHTEM
will now be undertaken.