OUTSTANDING COBALT, NICKEL & SCANDIUM RESULTS
▪Recent drill campaign highlights outstanding prospectivity & potential for future scandium resource▪MTRC011DA returnssixth (6th) best cobalt intercept in Australia for 2022(see Table 1)▪Three discrete zones identified, including upper Ni-Co-Mn-Sc horizon; middle PGE horizon & lower Ni horizon▪Upper zone of high-grade nickel, cobalt & scandium mineralisation intercepted in recent drilling, including:
oMTRC011DA: 15.0 metres @ 0.45% Co, 0.91% Ni, 5.42% Mn & 40.9g/t Sc from 45.0 metres▪Lower zone of thick and continuous nickel mineralisation intercepted in recent drilling, including:
oMTRC009D: 21.8 metres @ 0.28% Ni & 49.8g/t Sc from 268.2 metres▪Middle zone of highly anomalous PGE mineralisation intercepted in recent drilling, including:
oMTRC006D: 9.0 metres @ 0.14g/t 3E, 0.09% Ni & 0.02% Cu from 223.0 metres▪Scandium is a critical mineral currently selling for US$930,930/t (oxide)1& is essential for hydrogen fuel cells▪Assays still pending on 17 holes for upper zone, 4 holes for middle zone and 5 holes for lower zone▪Options to consolidate the MTJV ownership structure to support an IPO are currently under review
