Ann: Regional review confirms multiple nickel targets, page-3

Regional review confirms LCL holds
7km x 4km Ni anomaly and multiple
additional Ni targets
Over recent months, and on the back of highly encouraging results from Veri Veri field work,
LCL (ASX: LCL) (LCL or the Company) has continued to build a contiguous, regional position
of mineral tenements capturing Papuan Ultramafic Belt (PUB) lithologies. The PUB is a proven
host of high grade nickel sulphide mineralisation at LCL’s Veri Veri nickel prospect.
Within LCL’s expanded PUB footprint is a 7km x 4km stream sediment nickel anomaly at
Wedei, as well as the Iyewe nickel sulphide prospect and multiple additional nickel stream
sediment anomalies prospective for sulphide and lateritic nickel (Figures 1 & 2).
LCL’s Nickel Project now totals 2,400km2 of granted licences and pending applications and
captures ~100km strike length of the Keveri Fault, believed to be a major controlling structure
for both nickel sulphide and copper-gold mineralisation (Figure 2).
LCL Managing Director, Jason Stirbinskis added “We were very encouraged by our early
success at the Veri Veri nickel prospect and took the opportunity to control a very substantial,
camp-scale footprint prospective for a key strategic battery metal.
The Company’s analysis of the PNG Mineral Resources Authority database identified several
large nickel stream sediment anomalies over PUB lithologies that have never been drill tested.”
Wedei
The early stage Wedei target is a very large, coherent stream sediment nickel anomaly
covering an area of 7km x 4km of >0.25% Ni (Figure 3). The underlying geology consists of
PUB lithologies including basalts, ultramafic intrusives, and ultramafic breccias and is
prospective for nickel sulphides, nickel laterite, gold and Platinum Group Metals. Compilation
of historical work is ongoing.
Wedei sits mostly within uncontested applications pending approval (Figure 2) with the
remainder on EL2566 (Munga), over which LCL has a binding agreement to secure 100% of
the licence area, subject to renewal1