Announcement PDF ASX ANNOUNCEMENT Date: 15 April 2021 Number: 740/15042021 Little Broken Hill Gabbro grows in stature Broken Hill Ni-Cu-PGE Project, NSW • • • New drill assays from first pass reconnaissance drilling at three areas within the Little Broken Hill Gabbro (LBHG) have further confirmed the highly prospective nature of this large and yet very poorly explored intrusion. At Rockwell significant PGE-copper-nickel mineralisation within the basal ultramafic unit of the LBHG has now been shown to be up to 60 metres thick, extend to a depth of at least 150 metres from surface and for at least 1,500 metres along trend. Mineralisation is increasing in thickness and grade at depth, in particular to the south but is still open in all directions. New results include: 51 metres at 0.3 g/t 3PGE from 140 metres in RWIPT013 which includes 6 metres at 0.5% copper, 0.4% nickel and 0.3 g/t 3PGE from 154 metres and 5 metres at 0.5% copper, 0.4% nickel and 0.6 g/t 3 PGE from 161 metres and 1 metre at 0.2% copper and 1.1 g/t 3PGE from 186 metres. 11 metres at 0.8 g/t 3PGE from 101 metres in RWIPT004 including 1 metre at 0.9 g/t 3PGE and 0.15% copper from 105 metres. 11 metres at 0.3 g/t 3PGE from 40 metres in RWIPT008 including 2 metres at 0.7 g/t 3PGE from 47 metres. • Three very widely spaced drill holes at the Western Contact prospect along the basal ultramafic unit 2 kilometres south of Rockwell also returned anomalous PGE-copper mineralisation over a 1 kilometre trend including: 16 metres at 500 ppm copper and 0.2 g/t 3PGE from 83 metres in Hole LBIPT053 including 2 metres at 0.3% copper and 0.2 g/t 3PGE from 89 metres and 3 metres at 0.1% copper and 0.4 g/t 3PGE from 94 metres. • • At the Central LBHG prospect and an area at least 1,000 metres by 500 metres in size with anomalous copper (>250 ppm) and 3PGE (>20 ppb) centred over a possible “feeder zone” has been identified. This is interpreted to be a possible halo or leakage anomaly above a larger mineralised zone at depth. A stand out gold-copper result has been returned from within the feeder zone fault of: 4 metres at 1.5 g/t gold and 0.13% copper from 150 metres in Hole LBIPT040 including 1 metre at 4.5 g/t gold and 0.18% copper from 152 metres. 26 Richardson Street West Perth Western Australia 6005 Tel +61 (8) 6454 6666 Facsimile +61 (8) 6454 6667 Email info@impactminerals.com.au www.impactminerals.com.au • • • Drilling was guided exclusively by Impact’s proprietary ratio for PGE exploration. The new assay data has now identified two separate trends to the mineralisation which may reflect both magmatic and hydrothermal processes as commonly seen around major deposits. This is another major breakthrough for Impact and will help guide follow up drill programmes. These results from the first ever drill programme at the Little Broken Hill Gabbro are extremely encouraging for the discovery of a significant deposit given the remainder of the entire 6.5 kilometre extent of the target unit is untested. Follow up drilling will start as soon as practicable after completion of the drill programme at Apsley and by the end of the Quarter. Statutory approvals for most of the planned drill holes are already in place. Impact’s Managing Director Dr Mike Jones said “These results continue to confirm our belief that the LBHG may potentially contain a vast reservoir of PGE’s and possibly nickel and copper. We have to remember that this is the first ever drill programme to test the basal ultramafic unit and yet every drill hole that has intersected it has returned some level of mineralisation. It is evident that there is very significant potential along the entire length of the 6.5 kilometre long intrusion.” “We have made another breakthrough with our ratio indicating two separate chemical trends are at play and this will further help guide our follow up drill programmes. We are fortunate that most of the immediate follow up drill holes already have statutory approvals in place and we look forward to drilling at Broken Hill as soon as possible after our on-going drill programme at Apsley is complete”. 2 New assays from first pass reconnaissance drilling at several places within the Little Broken Hill Gabbro (LBHG) have further confirmed the highly prospective nature of this large and yet very poorly explored intrusion within Impact Minerals Limited’s (ASX:IPT) 100% owned Broken Hill platinum group element (PGE)-copper-nickel project in New South Wales. The drill holes were completed in three specific areas (Figure 1): 1. Rockwell which covers the northern one third of the intrusion and where Impact’s drilling has already identified large amounts of anomalous PGE+/-copper-nickel mineralisation in the basal ultramafic unit of the LBHG (ASX Releases 17th December and 22nd December 2020). 2. The Western Contact zone which was drilled in three places to further test the basal ultramafic unit 2 kilometres south west of Rockwell. 3. Central LBHG which was drilled to test for halos or so-called “leakage anomalies” within the upper gabbro units of the LBHG that overlie an interpreted “feeder zone.” These are faultcontrolled conduits through which hot magma migrates from depth into a larger intrusion and which are common sites for the deposition of nickel-copper sulphides such as at the giant Voiseys Bay deposit in Canada (see Figure 9 in this report and ASX Releases 9th July 2020 and 17th December 2020). Significant results, all of which require follow up drilling, were returned from all three areas as follows. ROCKWELL Assays from a further 9 RC holes are reported here for the first time to add to previously reported assays from Rockwell (Figures 2 and 3, Table 1 and 2 and ASX Releases 17th December and 22nd December 2020). A stand out intercept has been returned from Hole RWIPT013 of: 51 metres at 0.3 g/t 3PGE from 140 metres which includes 6 metres at 0.5% copper, 0.4% nickel and 0.3 g/t 3PGE from 154 metres and 5 metres at 0.5% copper, 0.4% nickel and 0.6 g/t 3 PGE from 161 metres and 1 metre at 0.2% copper and 1.1 g/t 3PGE from 186 metres. This is of a similar width to a significant intercept previously reported in Hole RWIPT003 of 61 metres at 0.4 g/t 3PGE from 31 metres RWIPT003 which includes 12 metres at 1.4 g/t 3PGE and 0.2% copper from 73 metres and including 1 metre at 2.3 g/t 3PGE, 0.4% nickel and 0.2% copper from 73 metres and 1 metre at 2.6 g/t 3PGE, 0.7% nickel and 0.2% copper from 79 metres. Other new results at Rockwell with robust widths of modest grades of 3PGE include (Figures 2 and 3): 11 metres at 0.8 g/t 3PGE from 101 metres in RWIPT004 which includes 1 metre at 1.0 g/t 3PGE and 0.15% copper from 105 metres; 11 metres at 0.3 g/t 3PGE from 40 metres in RWIPT008 which includes 2 metres at 0.7 g/t 3PGE from 47 metres; and 18 metres at 0.1 g/t 3PGE from 245 metres in RWIPT014. 3 Figure 1. First vertical derivative image of airborne magnetic data over the Little Broken Hill Gabbro showing Impact’s drill collars and best results down hole for copper and 3PGM (palladium+platinum+gold). In addition, two holes were drilled 400 metres and 500 metres south of the main area of drilling at Rockwell to test the basal ultramafic unit along trend. Anomalous results were returned from both holes including (Figure 2 and Table 2): 11 metres at 0.3 g/t 3PGE from 40 metres in Hole RWIPT008 which includes 2 metres at 0.7 g/t 3PGE from 47 metres with up to 0.1% copper in a few places. These are the first holes in this part of the basal ultramafic contact intrusion and are again considered very encouraging in particular given the increase in grade with depth seen to the north at Rockwell (Figure 3). These results indicate significant PGE-copper-nickel mineralisation extends to a depth of at least 150 metres from surface and for at least 1,500 metres along trend at Rockwell (Figures 2 and 3). 4 Figure 2. Location of Impact’s 28 drill holes at Rockwell with best down hole assay results for 3PGE. New results are highlighted in yellow. The northern line of drill holes with weaker results are vertical aircore drill holes that are no more than 50 metres deep. They have probably not effectively tested the basal ultramafic unit at depth and deeper RC drilling is required. 5 Figure 3. Cross-sections through the Rockwell Prospect with new drill results in yellow. Note the increasing PGE content with width of the basal ultramafic (see Figure 2 for location of cross sections from Drill Hole IDs). 6 WESTERN CONTACT The drill results at Rockwell indicate that the basal ultramafic unit of the LBHG was highly prospective for PGE-copper-nickel mineralisation (ASX Release 22nd December 2020). However prior to Impact’s 2020 programme there had been no previous drill testing of unit which is at least 6.5 kilometres long (Figure 1). Accordingly, three shallow scout drill holes to test the basal unit were completed over a 1 kilometre strike extent along the central west contact of the LBHG (Figure 1). Two of the drill holes returned encouraging anomalous results: 16 metres at 500 ppm copper and 0.2 g/t 3PGE from 83 metres in Hole LBIPT053 which includes 2 metres at 0.3% copper and 0.2 g/t 3PGE from 89 metres and 3 metres at 0.1% copper and 0.4 g/t 3PGE from 94 metres; and 7 metres at 0.3 g/t 3PGE from 146 metres in LBIPT052. The ultramafic unit in the third hole LBIPT054 contained weak 3PGE up to about 20 ppb over its entire 12 metre width. Given the very wide drill spacing and essentially random location of the drill holes, these results further confirm the prospectivity of the basal ultramafic unit over many kilometres of strike along the western contact of the LBHG. It is of note that at Rockwell similar results were found closer to surface with better grades intersected at depth (Figure 3). Impact considers it likely that the basal ultramafic unit contains PGE-copper-nickel mineralisation over much of its 6.5 kilometre extent and extensive further exploration is required. CENTRAL LITTLE BROKEN HILL GABBRO (LBHG) The Central LBHG area is centred on a major fault WNW-trending fault that cross cuts the entire LBHG and which is interpreted to be a “feeder zone” through which magma migrated from depth into the main intrusion (see Figure 8 this report and ASX Releases 9th July 2020 and 17th December 2020). Such feeder zones are common sites for the deposition of nickel-copper sulphides such as at the giant Voiseys Bay deposit (Figure 9). However, it was considered likely that the feeder zone was most prospective at depth where it intersects the basal ultramafic unit. Accordingly, the Central LBHG area was drilled to test for near surface halos or “leakage anomalies” that may have come from massive sulphide bodies buried deeper within the intrusion. Of the 30 aircore and RC holes completed, 12 returned very encouraging results and an area at least 1,000 metres by 500 metres in size with anomalous copper (>250 ppm) and 3PGE (>20 ppb) has been identified. This is centred over the interpreted feeder zone and has a possible westerly plunge (Figures 1 and 4). 7 Figure 4. Oblique cross section through the LBHG showing drill results from the Central LBHG area and also the Western Contact (Hole 053). Significant anomalous copper and 3PGE mineralisation is present over a large area and at depth. This is encouraging for the discovery of a massive sulphide deposit at depth. Of note, there is a stand out gold-copper intercept in Hole LBIPT040 associated with quartz veins in the target feeder zone fault which returned (Figures 1 and 4): 4 metres at 0.13% copper and 1.5 g/t gold from 150 metres which includes 1 metre at 1.3 g/t gold and 0.18% copper from 151 metres and 1 metre at 4.5 g/t gold and 0.17% copper from 152 metres. All of these results are supportive of more significant mineralisation at depth in and around the feeder zone. Modelling of the magnetic and gravity data over the LBHG is now underway to determine the likely depth to the base of the intrusion to help guide further drilling and determine the efficacy of a ground EM survey that may help to identify conductive zones that may represent massive nickel-copper sulphide deposits. 8 ABOUT IMPACT’s RATIO: A VECTOR TO HIGH GRADE PGE AT THE LBHG The discovery of the areas of encouraging PGE-copper-nickel mineralisation across the entire LBHG area was driven exclusively by Impact’s proprietary geochemical ratio which has been previously shown to have an exceptional positive correlation with PGE grades at Platinum Springs (ASX Release 6th October and 2nd December 2020). The ratio is based on the considerable amount of in-house research that Impact has completed on the nature and origin of the unusual ultramafic and mafic rocks which host the exceptional grades of PGEcopper-nickel mineralisation at Broken Hill (ASX Release 6th March 2019). Early results from LBHG seemed to indicate a relatively poor correlation with grade compared to Platinum Springs (ASX Release 22nd December 2020). However incorporation of the new assay data has now clearly identified two separate trends in the data (Figure 5). Of note, the gold (plus copper) intercepts from the quartz veins in the feeder zone target at Central LBHG also lie along these trends. Figure 5. Graph of platinum+palladium+gold (3PGE) in parts per billion (1,000 ppb = 1 g/t: y axis) against Impact’s proprietary ratio (x axis) showing two clear Trends. Trend 1 has key thresholds at a ratio of between 2 to 5 and also in particular of greater than 6 to 8 that mark increases in grade of the 3PGE. Trend 2 has key thresholds at greater than 10 and greater than 25 which mark increases in grade. In addition, the two red circles are high grade gold results from Hole LBIPT040 and these also lie on the two trends. This suggests that the gold-copper veins are part of the same magmatic-hydrothermal system as the PGE-copper-nickel mineralisation. 9 The cause of the two trends is the subject of on-going research by Impact. However, Impact believes they may reflect a mix of magmatic and related hydrothermal processes at the base of the LBHG during its intrusion, with the gold-copper veins being related to late stage fluids that have fractionated from the PGM-bearing ultramafic magmas. Such processes are common in many major deposits globally and this is encouraging for the discovery of a significant deposit in the area. Impact has also demonstrated to its satisfaction that hand-held XRF data from LBHG is of sufficient accuracy and precision compared to the laboratory assay data to calculate the ratio and it will be used to guide the follow up drill programme. DISCUSSION AND NEXT STEPS Impact’s previous work has shown the LBHG to be of a similar size, age, chemical composition and in the same geodynamic setting as the giant Jinchuan nickel-copper-PGE deposit in China (550Mt at 1.1% nickel, 0.7% copper and 0.5 g/t PGE). These initial scout drilling results are considered to be very encouraging for the discovery of a Jinchuan-style deposit at the LBHG (ASX Release 9th July 2020 and 17th December 2020). Virtually every drill hole that has penetrated the basal ultramafic unit has intersected anomalous PGE with variably anomalous nickel and copper. The ultramafic unit generally carries anomalous PGE’s over its entire thickness with narrower zones of better grades of up to 2.6 g/t PGE’s, 1.1% nickel and 0.7% copper towards the base of the unit in places. In all locations the mineralisation is open along trend and down dip and this is all very encouraging for the potential discovery of a significant nickel-copper-PGE deposit at the base of the LBHG given the very small area tested thus far. It is evident that there is potentially a very large inventory of those metals contained within the target basal unit and extensive follow-up drilling, including diamond drilling for the first time, is clearly required at many places within the LBHG. A detailed interpretation of the large amount of new data generated from the extensive drill programmes completed at LBHG, Platinum Springs and Red Hill is now in progress to prioritise areas for follow up drilling. In addition, down hole electromagnetic surveys will be completed on 5 drill holes across the project area to search for targets that may represent massive sulphide bodies. This work should commence in May. Drilling will resume as soon as practicable after the end of the on-going drill programme at Impact’s Apsley porphyry copper-gold prospect. Discussions are in progress with drilling contractors to determine timing and cost with the aim of drilling by the end of the current Quarter. 10 About the Drill Programme and Assays Impact has completed 68 holes for 5,532 metres at LBHG-Rockwell. Laboratory assays for 42 of those drill holes are reported here for the first time with significant intercepts listed in Table 2 and further details on the programme noted in the JORC Table. The precious metal results are reported as 3PGE (gold+palladium+platinum; Figures 1 and 2) with individual metal assays also listed in Table 2. In addition to the chemical assay data all one metre samples were assayed with a handheld XRF instrument for a wide variety of metals including copper and nickel as well as the calculation of Impact’s proprietary ratio for PGE exploration (ASX Releases 6th October 2020, 21st October 2020, 2nd December 2020 and 17th December 2020). Impact was awarded a grant of $75,000 towards the drill programme at the Little Broken Hill Gabbro as part of the Co-operative Drilling Initiative of the DRG Geological Survey of New South Wales. Their support is gratefully acknowledged. COMPLIANCE STATEMENT This report contains collar locations and assay data for 42 new drill holes drilled by Impact. Dr Mike Jones Managing Director Competent Person’s Statement The review of exploration activities and results contained in this report is based on information compiled by Dr Mike Jones, a Member of the Australian Institute of Geoscientists. He is a director of the company and works for Impact Minerals Limited. He has sufficient experience which is relevant to the style of mineralisation and types of deposits under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). Mike Jones has consented to the inclusion in the report of the matters based on his information in the form and context in which it appears. 11 ABOUT THE LITTLE BROKEN HILL GABBRO The Little Broken Hill Gabbro (LBHG) lies about 25 km south of the town of Broken Hill and is the largest of a suite of mafic to ultramafic intrusions that occur in a 40 km long belt from Little Broken Hill in the south west to Red Hill, Darling Creek, Platinum Springs and Moorkai in the north east (Figure 6). Figure 6. Impact’s ground holdings in the Broken Hill area showing key prospects including Red Hill, Platinum Springs and Little Broken Hill Gabbro. The LBHG is evident in airborne magnetic data (Figure 7a) and is about six kilometres long and up to one kilometre wide. There are no detailed published studies on the gabbro and it is poorly understood. On-going work by Impact has shown that it is comprised of a number of individual units or lobes that have differing magnetic and chemical properties (compare Figures 7a and 7b and Figure 8). Importantly, about 70% of the gabbro and four kilometres of strike is covered by up to about 25 metres of alluvium (Figure 7c). This cover has been a hindrance to previous exploration and only very limited sampling and drilling has been completed by previous explorers away from the areas of outcrop. This work returned only modest results and discouraged further exploration given the very high-grade nickelcopper-PGE results returned from the other prospects in the region. 12 Red Hill Red Hill LBHG LBHG Rockwell Rockwell Figure 7. The Little Broken Hill Gabbro. Figure 7a (top left) shows an image of the airborne magnetic data over the Little Broken Hill-Red Hill area. Warmer colours represent more magnetic units. Rockwell is one of the units of the LBHG. Red Hill LBHG Rockwell Figure 7b (top right) shows a simplified interpretation of the area highlighting the LBHG and Red Hill together with the major feeder zones and structures identified (see Figure 5 for detail). Figure 7c (bottom) shows the limited exposure of the LBHG at surface. About 70% of the intrusion and most of the related structures are covered by shallow alluvium (yellow area) which has hindered previous exploration. Nearly 4 km of the intrusion is under cover. 13 14 Figure 8. Interpretation of the Little Broken Hill Gabbro. Note the opposite fault slip direction either side of the central of the three possible feeder zones identified. The gabbro has expanded further to the right of this zone (SW) than the left (NE – Rockwell Lobe) However, Impact’s work has now shown that the gabbro has many of the characteristics required to potentially host a major nickel-copper-PGE deposit and that compelling targets exist under the alluvial cover or at depth. Three important lines of evidence for this are: 1. The structural controls on the intrusion and formation of the LBHG. 2. The age and geodynamic setting of the LBHG and related mafic and ultramafic rocks. 3. The internal chemistry of the individual units within the LBHG which is a work in progress. 1. The Structural Controls on the Intrusion of the Little Broken Hill Gabbro A new interpretation of the internal geometry and structure of the Little Broken Hill Gabbro by Impact is shown in Figure 8 (further details are in ASX Release 9th July 2020). Impact’s work has shown that the Little Broken Hill Gabbro is a mid-crustal magma chamber that was fed at least in part by ultramafic to mafic magmas sourced from the mantle such as those at Red Hill and the 9 km long Platinum Springs-Moorkai trend. Those magmas were demonstrably carrying extensive nickelcopper-PGEs both as magmatic sulphides such as at Platinum Springs and in related hydrothermal fluids such as at Red Hill. These deep-seated magmas fed the mid-crustal chamber through a sequence of extensional faults and shears that constitute feeder zones for the main intrusive body. Three possible feeder zones have been identified (Figure 8). In addition, Impact has recognised five different units within the LBHG each of which has different magnetic, chemical and field characteristics (Figure 8). The geometry of the units, four of which are folded, are best explained as the product of repeated pulses of magma being injected from the feeder zones into a laterally expanding magma chamber. Each new pulse of magma causes gravitational instabilities in the chamber leading to slumping and sliding of the magmas towards the centre and edges of the chamber. Such gravity slides have been shown to be important controls on the deposition and sorting of magmatic massive sulphide in a number of major deposits including the Bushveld Complex in South Africa (Maier et al 2012). Feeder zones (and associated gravity slides) are well known loci for nickel-copper-PGE mineralisation. A very good example of a feeder zone is the Eastern Deeps mineralisation at the world class Voiseys Bay in Canada (>150 Mt at 1.6% nickel, 0.9% copper and 0.1% cobalt) as shown in Figure 9. Here, a significant massive sulphide body and a related large cloud or halo of disseminated sulphide has been deposited at the exit point of a feeder zone which in itself was carrying extensive sulphide mineralisation. This is a useful conceptual model for Little Broken Hill and Impact’s exploration programme is focussed in the first instance on the search to find an outer halo of disseminated sulphide in this intrusion which may then provide vectors to the ultimate target of massive sulphide. An interpretation of the geochemistry of rock chip and drill assays from the LBHG is now underway and will no doubt add to the exciting model that Impact has built for its nickel-copper-PGE exploration in the Broken Hill region. 15 Figure 9. Cross-section through the Eastern Deeps deposit at Voiseys Bay. Note the feeder zone to the main intrusion and the large halo of disseminated sulphide mineralisation adjacent to the feeder. The massive sulphide body is some 600 metres deep and there is no surface expression of mineralisation. 2. The Age, Size and Geodynamic Setting of the Little Broken Hill Gabbro The LBHG is about 827 million years old and related to the break-up of a supercontinent called Rodinia by a rising “plume” of mafic to ultramafic magma likely derived from the core-mantle boundary (Figure 10, Wingate et al 1998). Unpublished age dating by Impact indicates all of the mafic-ultramafic rocks in the Broken Hill area are likely to be of a similar age. At that time, Broken Hill was located close to Jinchuan, one of the world’s largest nickel-copper-PGE deposits (>550Mt at 1.2% Ni 0.7% Cu 0.5 g/t PGM) which is also of a similar age (Figure 10). This geodynamic framework of a rising mantle plume is widely recognised as a crucial component to the formation of major magmatic nickel-copper-PGE sulphide deposits (ASX Release March 6th 2019). The Voiseys Bay deposit also formed in a similar geodynamic environment but at an earlier time in the Earth’s history, 1.3 billion years ago. 16 Figure 10. Position of the proposed mantle plume head (red circle) responsible for the breakup of Rodinia showing the location of Broken Hill in relation to the Jinchuan and Lengshuiqing Ni-Cu- Co-PGE deposits at about 800 million years ago (after Huang et al., 2015). A comparison of the size of the Little Broken Hill Gabbro and the host intrusions at Jinchuan and Voiseys Bay is shown in Figure 11. The geometric similarities are obvious. Importantly, more than 95% of the mineralisation at both Jinchuan and Voiseys Bay occurs at depths of up to many hundreds of metres below surface and the deposits are for the most part “blind”, that is, there are no surface indications of the underlying world class orebodies (Figures 9 and 11). This is an important consideration in exploration at the LBHG where prior to Impact’s drill programme there was only one drill hole deeper than 25 metres. Such comparisons clearly demonstrate that the LBHG has the correct scale, geodynamic setting and lack of previous exploration to host a major nickel-copper-PGE deposit. 17 Figure 11. Comparison of the Little Broken Hill Gabbro-Red Hill area with Jinchuan and Voiseys Bay. Note the similar scale and also how most of the mineralisation at Jinchuan and Voiseys Bay is at depth. 18 TABLE 1. DRILL HOLE DETAILS 19 TABLE 2. SIGNIFICANT INTERCEPTS (100 ppb 3PGE cut off where appropriate) 20 APPENDIX 1 - SECTION 1 SAMPLING TECHNIQUES AND DATA FOR THE BROKEN HILL PROJECT Criteria JORC Code explanation Sampling techniques Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information Drilling techniques Drill sample recovery Commentary Reverse Circulation (RC) percussion drilling was used to produce a 1m bulk sample (~25kg) which was collected in plastic bags. 1m split samples (nominally 3kg) were collected using a riffle splitter and placed in a calico bag. The cyclone was cleaned out with compressed air at the end of each hole and periodically during the drilling. Holes were drilled to optimally intercept interpreted mineralised zones. For samples within the target ultramafic unit, the 1m sample in the calico bag was sent for assay. Outside the ultramafic unit the bulk sample was speared using standard techniques to produce either a 2 metre or 4 metre composite for assay. Sample representivity was ensured by a combination of Company procedures regarding quality control (QC) and quality assurance / testing (QA). Examples of QC include (but are not limited to), daily workplace and equipment inspections, as well as drilling and sampling procedures. Examples of QA include (but are not limited to) collection of “field duplicates”, the use of certified standards and blank samples approximately every 50 samples. RC samples were submitted to Intertek Laboratories in Perth for assay by 4 acid digest with ICP-MS finish and Fire Assay technique FA/50 MS (lead collection) for gold, platinum and palladium and fire assay technique NS/25/MS (nickel sulphide collection) for gold platinum, osmium, iridium, palladium, rhodium and ruthenium. Sample preparation involved: sample crushed to 70% less than 2mm, riffle split off 1 kg, pulverise split to >85% passing 75 microns. Individual one metre samples were also assayed with a hand held Vanta or Delta XRF instrument. Measurements lasting a minute were taken on each of the calico bags. Readings are qualitative only. Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or othe