10th August ‘21AIRCORE DRILLINGDrilling is planned on five...

10th August ‘21

AIRCORE DRILLING
Drilling is planned on five traverses, crossing the extent of the LALIC within Mining Lease 51/878. The holes are planned to extend out into the rocks both east and west of the intrusion, to define the boundaries. 138 holes for 5,000 metres are planned and the drill program is anticipated to be completed within 3-4 weeks. Figure 2 shows the location of the planned aircore traverses on a geology interpretation by Ivanic, 2019.The Company will collect a full multi-element suite, including whole rock geochemistry, rare earth elements and trace elements from bottom of hole samples. This dataset will be applied in studies aimed to determine chemical zonation of the LALIC, to identify horizons that may be prospective for economic metal concentrations, both for Bryah and Australian Vanadium Limited.Potential economic concentrations of nickel, copper, chromium and/or platinum group elements (“PGE”) may be present in the more basal parts of the LALIC. Results from drilling will assist in determining the base and the top of the intrusion, both potential locations for mineralisation.Bryah and AVL have previously identified the presence of Ni-Cu-Co sulphides in the silicate matrix of high-grade vanadium-titanium magnetite horizons that form the basis of the AVL BFS study.