Having another look at MTRC015 which is very close to our next...

Having another look at MTRC015 which is very close to our next planned deep hole EIS3, one has to be a little excited on what lies beneath in that area.

I like the higher grades we were getting below on this RC hole and the comment to Mt Keith showing a normal grade distribution without a high grade element.

MTRC015 44m at 0.28% Ni, 131ppm Co, 100ppm Cu, 15ppb Pt+Pd from 95m
inc. 6m at 0.43% Ni, 212ppm Co, 455ppm Cu, 82ppb Pt+Pd from 96m
85m at 0.37% Ni, 169ppm Co, 195ppm Cu, 29ppb Pt+Pd from 158m
inc. 3m at 0.79% Ni, 326ppm Co, 0.19% Cu, 46ppb Pt+Pd from 170m
that inc. 1m at 1.11% Ni, 379ppm Co, 0.45% Cu, 62ppb Pt+Pd from 172m
and inc. 7m at 0.80% Ni, 312ppm Co, 501ppm Cu, 17ppb Pt+Pd from 183m
that inc. 3m at 1.32% Ni, 516ppm Co, 0.10% Cu, 34ppb Pt+Pd from 184m
and inc. 3m at 1.35% Ni, 668ppm Co, 750ppm Cu, 0.4g/t Pt+Pd from 228m
that inc. 2m at 1.71% Ni, 836ppm Co, 0.10% Cu, 0.4g/t Pt+Pd from 229m

The Company continues to believe the central area of the main body of the Mulga Tank Complex could
host globally significant quantities of disseminated Mt Keith-style nickel sulphide mineralisation which
could be amenable to large scale, open-pit mining operation.
However, results from MTRC0015 add further evidence that Mulga Tank is not just a Type 2 disseminated
sulphide system and is more likely a Perseverance-style hybrid Type 1/2 system with a basal massive sulphide
component.Mt Keith shows a normal grade distribution, without a high-grade element. At Mulga Tank we
increasingly observe high-grade remobilised massive sulphide veining and immiscible sulphide globules in
diamond drill core, coupled with high-grade assay results for Ni and chalcophile accessories, such as Cu and
PGE’s, well above Mt Keith grades (Figure 8). The results from MTRC015 with higher grade Ni, as well as Cu
and PGE, further strengthen the massive sulphide thesis.