Short Term Trading Week Staring - 3 July, page-116

ARL -Thick high-grade cobalt-nickel intersections at Goongarrie South

Assays of metallurgical diamond drill holes show expected extensive mineralisation. Pre-feasibility metallurgical testing is now underway

• Drill holes designed to provide metallurgical test work samples return broad, high-grade mineralisation, as expected.
• Outstanding results, including:
o AGSD0001, 131m at 0.10% cobalt and 1.06% nickel from 34m
o AGSD0002, 54m at 0.11% cobalt and 1.52% nickel from 10.0m
o AGSD0004, 39m at 0.20% cobalt and 1.35% nickel from 18.7m.
• Several high-grade zones within these thick intercepts, including:
o AGSD0001, 7.2 m at 0.92% cobalt and 2.19% nickel from 95.6m
o AGSD0004, 28 m at 0.27% cobalt and 1.57% nickel from 22m
• Uniform mineral composition over entire thick mineable intercepts.
• Consistency of results and goethite-dominant mineralisation provide for high-quality and stable plant feed for a future mining operation.
• Pre-Feasibility Study hydro-metallurgical leach tests commence this week.