Ann: Sulphide Source Confirmed for Large EM Conductor at Mundarlo, page-55

The crew are working very hard in the background on what appears to be something very special.

9/2/2018

First three ever RC holes started drilling.

29/3/2018

“Sulphide Copper Species: In MURC003, fine grains of chalcopyrite were identified and are present in colloform banded quartz veining within cherty meta-sediments. The chalcopyrite has been replaced and rimmed by the high-grade copper species, chalcocite. This suggests the possible existence of copper enrichment or fluid related copper over-printing”.

6/4/2018

“Drilling is targeted to provide three intercepts into the DHEM conductor target zone. It is planned to extend MURC001 and MURC002 with a further 100m of RC drilling in each hole, and to extend MURC003 with a 100m diamond tail to collect oriented core through the target zone (refer to Figure 1)”.

23/5/2018

“Follow-up extension RC drilling extended MURC001 and MURC002 were undertaken and assays from this work have been received”.

“MURC003 was not extended in this program”

31/7/2018
“Extension of the THREE first-ever RC drill holes completed - Massive and semi-massive sulphide in silicarich (exhalite) lithologies confirmed as source of EM response, confirming Geological Model”.

“This work should provide a more refined exploration target prior to committing to deeper drilling was considered important before targeting the strongest response toward the centre of the EM plate. Compilation of this data is currently underway and once complete, an update on Mundarlo progress will be released in a separate announcement”.

“Geological and structural studies of VMS target model are ongoing with plans to drill test the centre and strongest EM response in 2H18”.