Black Hammer Advances with Three Priority Cu-Au Targets
Released
Released
Announcement PDF
Level 8, 216 St Georges Terrace, Perth, Western Australia 6000
T: +61 (08) 9481 0389 E: info@exultantmining.com.au
ACN 684 147
2nd
September 2026
www.exultantmining.com.au
BLACK HAMMER EXPLORATION ACCELERATES: THREE
PRIORITY CU-AU TARGETS IDENTIFIED ACROSS 390KM²
MACQUARIE ARC TENURE
HIGHLIGHTS
• Three priority Cu-Au targets identified at the 390km² Black Hammer
Project in the Macquarie Arc, NSW, an established gold-copper province
hosting Cadia (~50Moz Au & ~9.5Mt Cu)1
and Cowal (8.9Moz Au)2
• Fieldwork commencing at Watsons Prospect: 2.4km Cu-Zn soil anomaly,
never assayed for gold or drill tested, 2km along strike from historical gold
mines
• Porters Retreat and Vermithor selected as next priority targets, featuring
a sulphide-bearing monzonite intrusion with chalcopyrite at surface and a
newly defined ~1km x 1km "bullseye" magnetic anomaly, both undrilled
• 12 prospects and historical workings identified across Black Hammer,
providing a deep pipeline of exploration targets beyond the three
currently prioritised
• The Company intends to adopt staged, capital-efficient exploration to
rapidly refine targets before committing capital to drilling
• Balerion Drill Assay results pending for holes 4, 5 & 6, to determine
follow up exploration steps
Exultant Mining Limited (ASX: 10X) (“Exultant” or “the Company”) is pleased to announce the
commencement of exploration at three undrilled copper-gold targets at its 100%-owned, 390km² Black
Hammer Project in the Macquarie Arc, New South Wales.
Fieldwork is underway at Watsons Prospect, where a 2.4km Cu-Zn soil anomaly has never been assayed
for gold or tested by drilling, with Porters Retreat and Vermithor to follow as the next priority targets.
The program advances in parallel with pending assay results from the Company's maiden drill program
at Balerion.
Comment from Executive Chairman, Brett Grosvenor:
“With the maiden Balerion drilling program now complete and the remaining assays pending, we are
able to redeploy our exploration team to Black Hammer and continue building our pipeline of drill targets.
Watsons Prospect provides an immediate opportunity with Porters Retreat and Vermithor as two further,
distinct exploration opportunities that have compelling geological, geochemical or geophysical
characteristics but have never been drill tested.
Level 8, 216 St Georges Terrace, Perth, Western Australia 6000
T: +61 (08) 9481 0389 E: info@exultantmining.com.au
ACN 684 147 484
www.exultantmining.com.au
Our strategy has not changed, the objective of the 10X team is to undertake focused, low-cost fieldwork
to identify the strongest parts of each target, validate those areas with laboratory geochemistry and
geophysics, and then advance the highest-priority opportunities toward drilling."
Figure 1. The Black Hammer Project comprises approximately 390km² of tenure covering prospective Macquarie
Arc volcanic and intrusive rocks
Level 8, 216 St Georges Terrace, Perth, Western Australia 6000
T: +61 (08) 9481 0389 E: info@exultantmining.com.au
ACN 684 147 484
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BLACK HAMMER PROJECT
The Black Hammer Project comprises approximately 390 km² of tenure covering prospective volcanic
and intrusive rocks of the Macquarie Arc (Figure 1), an established gold-copper mineral province hosting
major porphyry and epithermal systems such as Cadia Valley (~50Moz Au & ~9.5Mt Cu)1
and Cowal
(8.9Moz Au)2
.
A project-wide review has identified 12 prospects and historical workings, many of which are located
within prospective Macquarie Arc rocks or along interpreted regional structures (Fig. 2). The Black
Hammer Project is considered prospective for several styles of gold and copper mineralisation, including:
• Porphyry and epithermal Au-Cu mineralisation;
• Orogenic gold mineralisation;
• Intrusion-related gold mineralisation; and
• Skarn Au-Cu mineralisation
Exultant has prioritised three targets for near-term exploration:
• Watsons Prospect: An open, approximately 2.4km-long Cu-Zn soil anomaly associated with
quartz-pyrite-chalcopyrite veining;
• Porters Retreat: An altered and sulphide-bearing monzonitic intrusive system prospective for
porphyry and epithermal Au-Cu mineralisation; and
• Vermithor: A newly defined, approximately 1km x 1km remanent magnetic anomaly that has
not been subject to historical follow-up
The three priority targets have been selected from the broader project pipeline based on their scale,
geological setting, supporting exploration evidence, limited historical follow-up and ability to be
assessed initially through relatively low-cost surface exploration.
The Company intends to apply a staged, capital-efficient exploration approach, progressing from low-
cost surface exploration through laboratory geochemistry and targeted geophysics before committing
capital to drilling.
Level 8, 216 St Georges Terrace, Perth, Western Australia 6000
T: +61 (08) 9481 0389 E: info@exultantmining.com.au
ACN 684 147 484
www.exultantmining.com.au
Figure 2. Twelve prospects and historical workings have been identified across Black Hammer, with Watsons,
Porters Retreat and Vermithor prioritised for near-term exploration.
Level 8, 216 St Georges Terrace, Perth, Western Australia 6000
T: +61 (08) 9481 0389 E: info@exultantmining.com.au
ACN 684 147 484
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WATSONS PROSPECT
Watsons is the most advanced of the three priority targets from a land access perspective and will be
the first focus of the next phase of fieldwork. Historical soil sampling defined a coherent Cu-Zn anomaly
extending for approximately 2.4km within the Rockley Volcanics of the Macquarie Arc (Fig. 3). The
anomaly remains open to the north and south and is associated with quartz-pyrite-chalcopyrite veining
observed at surface.
The historical soil samples were not assayed for gold, and no drilling has tested the source of the Cu-Zn
response. Watsons is also located approximately 2km along strike from the historical Shooters Hill and
Chatham Valley gold mines, providing additional justification for systematic gold and multi-element
follow-up. A land access agreement is in place over the majority of the target area, with access over the
remaining portion progressing toward formalisation.
The initial Watsons program will include:
• Reconnaissance and ground truthing of historical data;
• Geological and structural mapping;
• Rock-chip sampling;
• pXRF-assisted soil sampling across and along strike from the historical anomaly; and
• Selection of priority areas for laboratory gold and multi-element soil analysis
The field pXRF program will be used as a rapid screening and target-definition tool. Laboratory analysis
will be required to determine representative elemental concentrations and to support subsequent
exploration decisions.
The principal objectives of the Watsons program are to validate the historical anomaly, assess its
continuity beyond the existing survey limits, determine whether a gold response is present and identify
priority areas for follow-up geophysics.
Level 8, 216 St Georges Terrace, Perth, Western Australia 6000
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Figure 3. The approximately 2.4km-long Watsons Cu-Zn soil anomaly remains open and has not previously been
assayed for gold or tested by drilling.
EL9826
(10X)
Level 8, 216 St Georges Terrace, Perth, Western Australia 6000
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PORTERS RETREAT
Porters Retreat contains outcropping, strongly altered monzonitic intrusive rocks hosting pyrite and
chalcopyrite mineralisation (Fig. 4). The intrusion displays strong quartz-chlorite-albite alteration, while
first pass lithogeochemical assessment of samples collected from Porters Retreat indicates
characteristics considered prospective for porphyry and epithermal Au-Cu systems. The mineralised
intrusion is spatially associated with angular alluvial gold in the Retreat River.
Basement magnetic anomalies beneath and adjacent to the mapped intrusive rocks provide an
additional target vector and may indicate a larger intrusive system below the exposed area. Despite the
presence of altered and sulphide-bearing intrusive rocks at surface, the target has never been drill
tested.
Land access negotiations have commenced and, subject to execution of the required agreement, the
planned program will include:
• Detailed geological and alteration mapping;
• Systematic rock-chip sampling;
• pXRF-assisted soil sampling across the intrusive system and surrounding contacts; and
• Integration of the surface results with existing magnetic data.
Priority areas identified from the surface program will be submitted for laboratory analysis and assessed
for follow-up geophysical surveying.
The geological and geochemical characteristics identified to date provide a testable exploration concept
but do not, in themselves, confirm the presence of an economic mineral deposit.
VERMITHOR
Vermithor is a newly identified, approximately 1km x 1km "bullseye" remanent magnetic anomaly,
with the strongest interpreted magnetic core extending for approximately 1.2km in depth (Fig. 4). The
anomaly has not been subject to systematic historical surface exploration or drilling.
In nearby mineralised systems, remanent magnetic responses have been associated with pyrrhotite-
bearing Cu-Au mineralisation. This provides a conceptual exploration model for Vermithor but does
not establish that the anomaly is caused by sulphides or mineralisation.
The target is situated:
• Less than 5km from the Footrot Au-Cu prospect;
• Along trend from strong historical IP chargeability and low-resistivity responses located
approximately 1.4km from the EL9332 boundary; and
• Near the contact of the Carboniferous Isabella Granite, providing an additional intrusion-
related or skarn-style exploration concept
Level 8, 216 St Georges Terrace, Perth, Western Australia 6000
T: +61 (08) 9481 0389 E: info@exultantmining.com.au
ACN 684 147 484
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The anomaly is located within a single landholding, and land access negotiations have commenced.
Once access is secured, the initial Vermithor program will comprise:
• Geological mapping and ground truthing across the anomaly;
• Rock-chip sampling of outcrop and float;
• pXRF-assisted soil sampling across the magnetic footprint and surrounding intrusive contact;
and
• Integration of field observations with the magnetic interpretation
Follow-up laboratory geochemistry and targeted geophysics will be considered where the surface
program identifies supporting geological, alteration or geochemical evidence. No fieldwork or drilling
has yet confirmed the source of the Vermithor magnetic anomaly or the presence of mineralisation.
1.2km
Figure 4. (Left) Strongly oxidized pyrite-
chalcopyrite-bearing monzonite intrusion at
Porters Retreat. (Right) Oblique view looking NE
of the 0.06SI VRMI magnetic shell underneath
925RL VRMI-depth slice image at Vermithor.
Level 8, 216 St Georges Terrace, Perth, Western Australia 6000
T: +61 (08) 9481 0389 E: info@exultantmining.com.au
ACN 684 147 484
www.exultantmining.com.au
BALERION DRILL PROGRAM
The maiden Balerion drilling program is complete, with full details of the program and the visual
results from the final hole released on 26 August 2026.3
Laboratory assays from BLRCDD004, BLRCDD005 and BLRCDD006 remain pending.
Once received, validated and interpreted, the complete drilling and assay results will be integrated
with the geological, structural, geochemical and geophysical datasets to update the Balerion geological
model and determine the next phase of exploration.
Black Hammer field activities can therefore progress while this technical work is completed, allowing
the Company to maintain exploration momentum across its New South Wales portfolio.
NEXT STEPS
1. Commence reconnaissance, mapping, rock-chip sampling and pXRF soil sampling at Watsons;
2. Progress land access agreements for Porters Retreat and Vermithor;
3. Receive and integrate the remaining Balerion assay results into an updated geological model;
4. Commence surface exploration at Porters Retreat and Vermithor once access is secured;
5. Submit priority soil and rock-chip samples for laboratory gold and multi-element analysis;
6. Undertake follow-up geophysics over targets supported by surface exploration results;
7. Advance the strongest Black Hammer targets toward drill testing
The Company will update the market as material exploration results are received and the Black
Hammer work programs progress.
This announcement has been approved for release by the Chairman of the Board of Directors of the
Company.
For further information on Exultant Mining Limited please contact:
Brett Grosvenor Paul Berson
Exultant Mining Limited Corporate Storytime
Executive Chairman Investor Relations
Info@exultantmining.com.au paul@corporatestorytime.com
Ph: +61 (08) 9481 0389 Ph: +61 (0) 421 647 445
1 - Harris, A.C. et al. (2020), “Geologic Evolution of Late Ordovician to Early Silurian Alkalic Porphyry Au-Cu Deposits at Cadia, New South
Wales, Australia”, Society of Economic Geologists Special Publication No. 23, pp. 621–643.
2 - https://evolutionmining.com/our-operations/cowal/
3 - Refer to Exultant Mining Limited ASX announcement dated 26 August 2026, “Final Balerion Hole Intersects Sulphide-Bearing Shear Zone”.
Level 8, 216 St Georges Terrace, Perth, Western Australia 6000
T: +61 (08) 9481 0389 E: info@exultantmining.com.au
ACN 684 147 484
www.exultantmining.com.au
Disclaimer
Someofthestatementsappearinginthisannouncementmay beinthenatureofforward-lookingstatements.
You should be aware that such statements are only predictions and are subject to inherent risks and
uncertainties.ThoserisksanduncertaintiesincludefactorsandrisksspecifictotheindustriesinwhichExultant
operates and proposes to operate as well as general economic conditions, prevailing exchange rates and
interest rates and conditions in the financial markets, among other things. Actual events or results may differ
materially from the events or results expressed or implied in any forward-looking statement. No forward-
looking statement is a guarantee or representation as to future performance or any other future matters,
which will be influenced by a number of factors and subject to various uncertainties and contingencies, many
of which will be outside Exultant’s control. Exultant does not undertake any obligation to update publicly or
release any revisions to these forward-looking statements to reflect events or circumstances after today’s
date or to reflect the occurrence of unanticipated events. No representation or warranty, express or implied,
is made as to the fairness, accuracy, completeness or correctness of the information, opinions or conclusions
contained in this announcement. To the maximum extent permitted by law, none of Exultant, its Directors,
employees, advisors or agents, nor any other person, accepts any liability for any loss arising from the use of
the information contained in this announcement. You are cautioned not to place undue reliance on any
forward-looking statement. The forward-looking statements in this announcement reflect views held only as
of the date of this announcement. This announcement is not an offer, invitation or recommendation to
subscribe for or purchase securities by Exultant. Nor does this announcement constitute investment or
financial product advice (nor tax, accounting or legal advice) and is not intended to be used for the basis of
making an investment decision. Investors should obtain their own advice before making any investment
decision.
Competent Person Statement
The information in this announcement that relates to Exploration Results is based on, and fairly represents,
informationcompiledandreviewedbySebastianHind.Mr Hind isanExplorationManagerforExultantMining
LimitedandaMemberoftheAustralasianInstituteofMiningandMetallurgy(Membershipnumber3116971).
Mr Hind has sufficient experience which is relevant to the style of mineralisation and type of deposit 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 (JORC Code). Mr Hind consents to the inclusion in this announcement of the matters based on his
information in the form and context in which it appears.
Level 8, 216 St Georges Terrace, Perth, Western Australia 6000
T: +61 (08) 9481 0389 E: info@exultantmining.com.au
ACN 684 147
www.exultantmining.com.au
Appendix A: Black Hammer JORC Code, 2012 Table 1
Section 1 Sampling Techniques and Data
Criteria JORC Code Explanation Commentary
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.
• This announcement reports historical soil geochemistry at
Watsons, Exultant geological mapping and rock-chip
observations at Watsons and Porters Retreat, laboratory
multi-element data used for first-pass lithogeochemical
screening at Porters Retreat, and reprocessed airborne
magnetic data used to define the Vermithor target. No new
drilling results or pXRF results are reported in this
announcement.
• Historical soil sampling at Watsons was completed by Mines
Search Pty Ltd and Platina Developments NL in 1972-1974
along approximately east-west traverses, using
approximately 30m sample spacing and 240m line spacing.
Samples were collected from the B soil horizon and sieved to
the -80 mesh fraction before analysis for Cu, Pb, Zn and Ag.
Gold was not included in the historical analytical suite.
• Where historical sampling, preparation or analytical details
are not recorded in the source reports available to Exultant,
this limitation is acknowledged and the data are used for
early-stage target generation only.
• Exultant’s 2025 reconnaissance program collected selective
rock-chip samples from exposed altered and mineralised
lithologies across Black Hammer, including samples 9332-
100 and 9332-101 from Porters Retreat. Rock-chip samples
are point samples and are not representative of mineralised
width or average grade.
• Rock Chips are broken from outcrop or float using a steel
Estwing geological hammer, the entire sample (nominal
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Criteria JORC Code Explanation Commentary
0.5kg) is pulverised to produce a 30g charge for fire assay
(AU-AA23) to analyse for Au and 0.25g is used for
multielement analysis (ME-MS61), where it uses a four acid
digestion to dissolve nearly all minerals. It’s then measured
using a mass spectrometer and optical emission
spectrometer.
• The Vermithor target was generated from reprocessing and
interpretation of existing airborne magnetic data. No physical
sampling was undertaken as part of the magnetic
interpretation.
• Proposed pXRF-assisted soil sampling forms part of future
exploration and no pXRF results are reported in this
announcement. Instrument specifications, calibration, QAQC
and field procedures will be disclosed if pXRF results are
subsequently reported.
Drilling
Techniques
• 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 other type, whether core is oriented and if so, by
what method, etc).
• No drilling has been completed by Exultant at the Black
Hammer Project and no new drilling results are reported in
this announcement.
• The Watsons, Porters Retreat and Vermithor priority targets
have not been drill tested.
• Historical drilling elsewhere within the broader Black Hammer
tenure includes shallow aircore drilling within EL9332,
historical diamond drilling at the Tuglow Copper Mines within
EL9826, and 50 RAB holes for 374m and two RC holes for
77m at the Swatchfield Prospect within EL9913.
• The historical drilling elsewhere within the project does not
directly test the three priority targets described in this
announcement and is included only as project context.
Drill Sample
Recovery
• Method of recording and assessing core and chip sample
recoveries and results assessed.
• Measures taken to maximise sample recovery and ensure
representative nature of the samples.
• No drill results are reported in this announcement and drill
sample recovery is therefore not material to understanding
the Watsons, Porters Retreat or Vermithor exploration results.
Level 8, 216 St Georges Terrace, Perth, Western Australia 6000
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Criteria JORC Code Explanation Commentary
• Whether a relationship exists between sample recovery and
grade and whether sample bias may have occurred due to
preferential loss/gain of fine/coarse material.
• Recovery information for historical drilling elsewhere within
the broader project is variably documented and has not
been relied upon to define or rank the three priority targets.
Logging • Whether core and chip samples have been geologically and
geotechnically logged to a level of detail to support appropriate
Mineral Resource estimation, mining studies and metallurgical
studies.
• Whether logging is qualitative or quantitative in nature. Core (or
costean, channel, etc) photography.
• The total length and percentage of the relevant intersections
logged.
• Exultant geological mapping records lithology, alteration,
veining, visible sulphide mineralogy, structure, weathering
and geological relationships in field maps and digital
databases.
• Rock-chip sample locations and geological descriptions were
recorded at the time of collection, with representative
photographs taken where appropriate.
• No new drill core or drill chips are reported in this
announcement. Historical drill logging elsewhere within Black
Hammer is not material to the definition of the Watsons,
Porters Retreat or Vermithor targets.
Subsampling
techniques and
sample
preparation
• If core, whether cut or sawn and whether quarter, half or all core
taken.
• If non-core, whether riffled, tube sampled, rotary split, etc and
whether sampled wet or dry.
• For all sample types, the nature, quality and appropriateness of
the sample preparation technique.
• Quality control procedures adopted for all sub-sampling stages
to maximise representivity of samples.
• Measures taken to ensure that the sampling is representative of
the insitu material collected, including for instance results for
field duplicate/second-half sampling.
• Whether sample sizes are appropriate to the grain size of the
material being sampled
• Exultant rock-chip samples were selective reconnaissance
samples collected from available outcrop and, where
applicable, float. Samples were individually bagged and
submitted as whole samples for laboratory preparation.
• Selective rock-chip samples are not representative of
mineralised width, average grade or geological continuity.
• Rock Chips are broken from outcrop or float using a steel
Estwing geological hammer, the entire sample (nominal
0.5kg) is pulverised to produce a 30g charge for fire assay
(AU-AA23) to analyse for Au and 0.25g is used for
multielement analysis (ME-MS61), where it uses a four-acid
digestion to dissolve nearly all minerals. It’s then measured
using a mass spectrometer and optical emission
spectrometer.
• In-Lab QA/QC procedures include insertion of standards,
blanks and duplicates, grind checks and repeat analyses are
standard procedure.
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Criteria JORC Code Explanation Commentary
• A 0.5kg sample size for a Rock Chip is an acceptable industry
standard and considered appropriate for the style of
mineralisation being targeted and the grainsize of the rock
being sampled
• Historical Watsons soil subsampling and preparation
procedures were not fully documented in the available
historical reporting
• No new soil samples, sample composites or pXRF readings
are reported in this announcement.
Quality of assay
data and
laboratory tests
• The nature, quality and appropriateness of the assaying and
laboratory procedures used and whether the technique is
considered partial or total.
• For geophysical tools, spectrometers, handheld XRF
instruments, etc, the parameters used in determining the
analysis including instrument make and model, reading times,
calibrations factors applied and their derivation, etc.
• Nature of quality control procedures adopted (e.g. standards,
blanks, duplicates, external laboratory checks) and whether
acceptable levels of accuracy (i.e. lack of bias) and precision
have been established.
• Exultant rock-chip samples were submitted to ALS Orange
and analysed using ME-MS61 four-acid digest ICP-MS/ICP-
AES for multi-element analysis and Au-AA23 fire assay with
AAS finish for gold
• Laboratory QAQC comprised ALS internal standards, blanks
and duplicates.
• Historical Watsons analytical methods, detection limits and
QAQC procedures were not fully documented in available
historical records. The historical soil results are therefore
being used for early-stage target generation and are
proposed to be validated by new laboratory sampling.
• The airborne magnetic data used to define Vermithor were
sourced from Geoterrex in 1991 and acquired at
approximately 250m line spacing and a nominal terrain
clearance of 80m.
• The magnetic data were reprocessed by Montana GIS using
a 3D inversion model for VRMI and TMI
• The 0.06 SI magnetic shell shown in Figure 4 is a selected
visualisation threshold from the inversion model. Magnetic
inversion is non-unique, and the model does not determine
rock type, sulphide content, metal grade or economic
significance.
• No pXRF results are reported in this announcement.
Level 8, 216 St Georges Terrace, Perth, Western Australia 6000
T: +61 (08) 9481 0389 E: info@exultantmining.com.au
ACN 684 147 484
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Criteria JORC Code Explanation Commentary
Verification of
sampling and
assaying
• The verification of significant intersections by either independent
or alternative company personnel.
• The use of twinned holes.
• Documentation of primary data, data entry procedures, data
verification, data storage (physical and electronic) protocols.
• Discuss any adjustment to assay data
• Historical geochemical and geophysical data were compiled
from original or scanned source reports, plans, tables and
available digital datasets. Key sample locations, assay values
and geological observations used in the figures were checked
against the source records where practicable.
• Exultant field observations and rock-chip sample records
were reviewed internally by the Competent Person.
• Laboratory certificates and relevant laboratory QAQC results
for the Exultant rock-chip samples were reviewed before the
data were used for geological or lithogeochemical
interpretation.
• Magnetic processing and inversion outputs were reviewed by
Montana GIS
• No historical assay values were adjusted
• No twin drilling is relevant because no drill results are
reported for the three priority targets.
Location of data
points
• Accuracy and quality of surveys used to locate drill holes (collar
and downhole surveys), trenches, mine workings and other
locations used in Mineral Resource estimation.
• Specification of the grid system used.
• Quality and adequacy of topographic control.
• Survey accuracy and quality for historic drill hole locations
not documented.
• Topographic control adequacy not assessed.
• Collar survey methods not consistently recorded.
• Historic collars and other geochemical data located using
GDA94/MGA Zone 55.
• Data points in the field are collected using a handheld
Garmin GPSMAP®65S MULTI-BAND
Data spacing and
distribution
• Data spacing for reporting of Exploration Results.
• Whether the data spacing and distribution is sufficient to
establish the degree of geological and grade continuity
appropriate for the Mineral Resource and Ore Reserve
estimation procedure(s) and classifications applied.
• Whether sample compositing has been applied
• Historical Watsons soil sampling was completed at
approximately 30m sample spacing along E-W traverses
spaced approximately 240m apart.
• The reported approximately 2.4km anomaly length is an
approximate map extent based on the spatial distribution of
anomalous historical soil results. It is not a mineralised width,
drill intersection or continuous assay interval.
• Exultant rock-chip samples were collected selectively where
Level 8, 216 St Georges Terrace, Perth, Western Australia 6000
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Criteria JORC Code Explanation Commentary
suitable outcrop was available and have irregular spacin
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