HIGH-GRADE RAINBOW NYCO ACQUISITION WITHIN QUINN DISTRICT
Released
Released
Announcement PDF
ASX Announcement
12 November 2026
ASX: OD6
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OD6 CONSOLIDATES QUINN FLUORSPAR DISTRICT WITH
ACQUISITION OF HISTORIC RAINBOW & NYCO MINES
Highlights
⢠Strategic acquisition of the historic Rainbow and Nyco fluorspar mines, comprising 20 additional
mining claims and further consolidating OD6's position across the highly prospective Quinn
Fluorspar District.
Rainbow Mine: Historically Producing, Excellent Scale Potential
o Rainbow sits on BLM administered land and has a recorded production history from the 1940s,
supporting both its scale potential and a rapid path to permitting
o Historic workings extend across an 850m strike length
o Mineralised system remains untested at depth, offering significant upside below the historic workings
and along strike at surface
o Rock samples by OD6 have returned exceptional grades of up to 89.6% CaF2
o Altered country rock surrounding the main veins also assayed up to 53.6% CaF2, suggesting
mineralisation extends well beyond the high-grade veins
o Maiden exploration program planning is now underway
Nyco Mine: Historic High Grade Producer, Significant Untapped Potential
o Recorded production history dating back to the 1950s, confirming a genuine historic mining district
o Recorded historic production of 1,100 t at 50% CaF2, suggesting high-purity fluorspar at potential
scale
o Mine development records comprise an upper adit extending nearly ~120m, with a second adit ~20m
long, indicating that the vein system continues at depth
o No modern exploration since historic mining ceased, leaving this high-grade system completely
untested
Rainbow claims sit directly adjacent to OD6's existing Bruno Project, where recent sampling by OD6 has
confirmed high grade fluorspar mineralisation along strike.
o Red Bluff prospect returned outstanding assays of 99.9%, 80.4% and 58.4% CaF2
o Bruno prospect returned high grade assays of 97.2%, 92.1% and 58.2% CaF2
Modest acquisition cost, with total consideration of US$89,166 (approximately A$127,500) in cash and
480,000 fully paid OD6 shares (to be issued pursuant to the Companyâs existing Listing Rule 7.1 placement
capacity), with no royalty or deferred consideration. Completion is subject to customary conditions and is
expected in the coming weeks.
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Brett Hazelden, Managing Director, commented:
âThe acquisition of Rainbow and Nyco represents another important step in our strategy to consolidate and unlock
the broader potential of the Quinn Fluorspar District.
Importantly, our initial exploration has already returned exceptional fluorspar grades of up to 99.9% CaFâ at Red
Bluff, 97.2% at Bruno and 89.6% at Rainbow. These results reinforce the high-grade nature of mineralisation across
the district and demonstrate that significant exploration opportunities extend well beyond our established Horseshoe,
Big Jim, Mammoth and more recently Blue Bell to Shannon Queen targets.
What is particularly encouraging at Rainbow is the identification of fluorspar mineralisation not only within the
main high-grade veins, but also within the surrounding altered volcanic rocks. This provides an additional
exploration opportunity to investigate the potential for broader mineralised zones.
As we progress towards our maiden drilling program at Quinn, we are continuing to build a substantial portfolio of
high-grade fluorspar targets that could ultimately contribute to a centralised processing and production operation,
supporting our ambition to establish a new domestic source of this strategically important critical mineral for the
United States.â
OD6 Metals Limited (ASX: OD6, âOD6â or âthe Companyâ) is pleased to announce a further expansion and
consolidation of the Quinn Fluorspar Project District in Nevada, USA. OD6 has agreed to acquire additional
claims at the historic Rainbow and Nyco mines, and has also staked additional claims around the Rainbow
and Bruno area. Upon completion of the acquisition, the Companyâs expanded district-scale landholding
position will comprise 257 mining claims covering approximately 2,135 hectares across eight project areas.
Figure 1: The Quinn Fluorspar Project with new projects
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Rainbow Project
The Rainbow Mine lies 16 km WSW of Horseshoe, where OD6 has agreed to acquire four claims from Mithril
Mining Corp. Rainbow was originally mined in the 1940s, with the mine history referred to below drawn from
published records (see also the heading âHistorical Informationâ). The claims sit on Bureau of Land Management
(BLM) land, offering a shorter route to exploration permitting approvals, with trenching planned to guide a
maiden drill program.
Mine history: The Rainbow Mine is the westernmost fluorspar deposit in the Quinn district, on the western side
of the Quinn Canyon Range. The original mine claim was located in September 1941 by Carl E. Holmberg, and
Papke (1979) citing Kral (1951) records approximately 200 t of high-grade fluorspar shipped from the Rainbow
and an adjacent claim in 1945â1946, the first fluorspar production anywhere in the district. Ore came from a
shallow surface open stope about 30 m long and 2.4 m deep, with stoping widths of 0.3â1.5 m. A parallel vein 15
m to the west was also stoped.
OD6 exploration: New OD6 rock chip sampling, as part of due-diligence process returned 89.6% CaF2 from a 1
m wide shear vein carrying purple and green fluorspar (DH210), while altered volcanic country rock (with
fluorspar veins) flanking the main structure returned 53.6% and 7.2% CaF2 (DH207 and DH209; refer Figures 3
and 4 and Table 1 in Appendix 1). The presence of historic workings were confirmed, during a field visit, to
extend over 850 metres. The veins strike NNE and dip ~40° to sub-vertical west in quartz latite tuff, varying from
0.3 m to >1 m wide, with white to pale-green banded fluorite. In addition, the presence of fluorspar in multiple
centimetre-scale veins, together with fluorspar crystals in altered country rock within the volcanics, is suggestive
of a potential halo surrounding the main veins.
Figure 2 OD6 sampling at Bruno-Rainbow Project
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Figure 3 Samples of fluorspar in narrow veins in country rock surrounding main veins - assaying 7.2% and 53.6% CaF2
Figure 4 Open stope - main vein assayed 89.6% CaF2 with fluorspar also evident in stockwork veins in the surrounding volcanic
material. Main vein in this image is approximately 1m
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Nyco Project
The Nyco Mine lies 14 km WSW of Horseshoe, where OD6 has agreed to acquire 16 claims from Mithril
Mining Corp. Nyco was originally discovered in the 1940s (claimed in the 1950s), with the mine history referred
to below drawn from published records (see also the heading âHistorical Informationâ). OD6 has not yet visited
the site and no OD6 sampling results are presented for Nyco in this announcement.
Mine history: The Nyco Mine sits on the west side of the Quinn Canyon Range in eastern Nye County, on the
east slope of Water Canyon. The Nyco No. 1â3 lode claims were located in October 1950, and the main adit was
driven in 1951. Material removed at that time reportedly averaged 51% CaFâ. Horton (1961) records 14 t at 50%
CaFâ shipped to the Kaiser mill at Fallon. The property was leased about 1957 to Wah Chang Corp., which
removed the dump, carried out most of the stoping and drove the lower adit. Papke (1979) estimates total
recorded production at roughly 1,100 t at 50% CaFâ, although Papke reports uncontaminated vein material
carried higher grade (grade not disclosed as not-JORC compliant). Development comprises an adit nearly 122 m
long and a second 21 m adit 43 m lower; all ore came from the upper adit, while the lower adit followed a fault
zone and exposed disseminated fluorite. The production, grade and development figures above are historical
mine records compiled by Papke (1979) and Horton (1961) and have not been verified by OD6.
Geologically the host is a medium-light-grey quartz latite porphyry, slightly silicified and pyritised near the vein,
with bold outcrops running east to a ridge top 75 m. Papke reports the upper adit explored a vein system
striking nearly eastâwest and dipping ~50° N; no crosscuts were driven, but the evidence points to two en
echelon veins. Veins are 1â1.5 m thick with generally sharp contacts, the adjacent porphyry weakly to strongly
altered with sericite and minor kaolinite. Rock samples reported by Papke are not presented here due to JORC
compliance. Papke mapped the surface and upper adit by plane-table and Brunton-tape survey in May 1977
(Papke 1979). The Nyco ground comprises 16 claims (1.3 km² / 329 acres), staked late 2025âearly 2026.
New Staking
The Company enlisted the assistance of Rangefront LLC to stake 11 new State of Nevada Mining Claims
(unpatented lode claims) around the Rainbow and Bruno Area. These additional claims are anticipated to cover
potential expansions to the known mineralisation area.
Bruno and Red Bluff
At Bruno, rock chip sampling of the vein system returned 97.2% CaF2 from a 1â2 m wide vein (DH203) and 92.1%
CaF2 from a narrower vein (DH205), confirming very high purity fluorspar over a range of vein widths (Figure 3).
At Red Bluff, a 0.2â2 m wide vein was sampled along strike, returning 99.9% CaF2 (DH198), 80.4% CaF2 from
historic workings (DH199) and 58.4% CaF2 from vein material (DH197).
All results are listed in Table 1 in Appendix 1.
Proposed short-term work
Further mapping and review of workings is anticipated to commence shortly. As Rainbow / Bruno project area
sits primarily on BLM ground, the pathway to permitting of ground-disturbing work is relatively rapid, and
trenching and potentially drilling is being considered in the short-term.
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Historical Information
This announcement contains references to historical workings, mine development and production figures at the
Rainbow and Nyco mines (tonnages and grades of ore shipped, adit and stope dimensions and dates) which
were drawn from published Nevada Bureau of Mines and Geology records that were reported by third parties
prior to the introduction of the JORC Code, principally Papke (1979), Kral (1951) and Horton (1961). They are
historical mine records provided for context only.
Whilst check sampling at Rainbow by OD6 has indicated strong grades, the historical information has not been
verified by OD6 Metals, was not prepared or reported in accordance with the JORC Code 2012, and no
Competent Person has undertaken sufficient work to classify any of it as a Mineral Resource or Ore Reserve
under the JORC Code 2012. In addition, the Company notes that sampling, assaying, surveying and quality
control procedures used by previous owners to generate historical exploration results and resources are largely
unknown and such results may not be representative of the mineralisation present, and there is no certainty that
they will be replicated by OD6's exploration. Accordingly, OD6 has not presented any such historical results or
estimates in this announcement, other than the historic mine production records.
Investors should not rely on the historical information presented in this announcement as an indication of the
presence, continuity, width or grade of mineralisation, or of any future exploration or production outcome.
Significance of the acquisition and OD6âs initial sampling
The acquisition of Rainbow and Nyco will, on completion, complete OD6's consolidation of the Quinn fluorspar
district, with the Company then holding 100% of every historic fluorspar mine in the district across 257 claims.
Just as importantly, the Rainbow, Bruno and Red Bluff sampling adds a vein-hosted style of target to the Project.
These structures are narrow relative to the 60 metre wide replacement zone at Horseshoe and the 100 metre
wide breccia and stockwork zone at Mammoth, but their grade and purity complement those bulk-tonnage
targets, offering the potential for compact, very high-grade sources of feed within a hub-and-spoke
development.
Grade of this order carries direct product significance. Rock chip results approaching stoichiometric purity â up
to 99.9% CaF2 at Red Bluff, 97.2% at Bruno and 89.6% at Rainbow â are similar, with the head grade of 98.3%
CaF2 returned by large-format metallurgical testwork on the Big Jim main vein (refer release dated 12 August
2026). This may support a potential low-capital pathway to a Direct Shipping Metspar product ahead of a full
flotation circuit for premium Acidspar (>97% CaF2).
The presence of fluorspar in narrow veins and disseminated in altered volcanic country rock at Rainbow, and the
sericite-altered halo described historically at Nyco, also point to broader lower-grade targets alongside the
high-grade veins. With the Rainbow-Bruno claims on BLM-administered land, and the United States importing
100% of the fluorspar it consumes, Quinn is well placed to advance quickly toward becoming a domestic source
of supply.
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Acquisition Deal Terms
OD6, through its wholly owned US subsidiary U.S. Fluorspar LLC, has entered into a binding Mineral Claim
Acquisition Agreement with Mithril Mining Corp., a Utah corporation (Mithril), to acquire a 100% interest in 20
unpatented lode mining claims comprising the Rainbow (4 claims) and Nyco (16 claims) projects in Nye County,
Nevada, covering approximately 413 acres (167 hectares). Mithril is the original locator of the claims and is not a
related party of OD6.
The material terms of the acquisition are:
⢠Consideration payable as follows:
o Cash consideration of US$89,166 (approximately A$127,500) to be paid from the Companyâs
existing working capital; and
o Share consideration of 480,000 fully paid ordinary shares in OD6 (Consideration Shares), to be
issued at completion within OD6âs existing placement capacity under ASX Listing Rule 7.1. The
Consideration Shares will be subject to a voluntary escrow period of 12 months from issue.
⢠No royalty, deferred or contingent consideration is payable in connection with the acquisition.
⢠Completion is subject to customary conditions, including all necessary government agency consents and
approvals reasonably necessary to transfer the claims. Completion is expected in the coming weeks. If the
conditions are not satisfied or waived by 31 December 2026, either party may terminate the agreement.
⢠ASX has confirmed that Listing Rules 11.1.2 and 11.1.3 do not apply to the acquisition, and no shareholder
approval is required.
The agreement contains warranties, indemnities and termination rights customary for a transaction of this
nature.
References
Papke, K.G., 1979, Fluorspar in Nevada: Nevada Bureau of Mines and Geology Bulletin 93, p. 55â56, pl. 1 and fig.
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Kral, V.E., 1951, Mineral resources of Nye County, Nevada: Nevada Univ. Bull. , v . 45, no . 3, Nevada Bur. Mines
Bull. 50, 223 p.
Horton, R. C. (1961) An inventory of fluorspar occurrences in Nevada: Nevada Bureau Mines Rept. 1, 31 p.
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Forward Looking Statements
Certain information in this document refers to the intentions of OD6 Metals, however these are not intended to
be forecasts, forward looking statements, or statements about the future matters for the purposes of the
Corporations Act or any other applicable law. Statements regarding plans with respect to OD6 Metals projects are
forward looking statements and can generally be identified by the use of words such as âprojectâ, âforeseeâ, âplanâ,
âexpectâ, âaimâ, âintendâ, âanticipateâ, âbelieveâ, âestimateâ, âmayâ, âshouldâ, âwillâ or similar expressions. There can be
no assurance that the OD6 Metals plans for its projects will proceed as expected and there can be no assurance
of future events which are subject to risk, uncertainties and other actions that may cause OD6 Metals actual results,
performance, or achievements to differ from those referred to in this document. While the information contained
in this document has been prepared in good faith, there can be given no assurance or guarantee that the
occurrence of these events referred to in the document will occur as contemplated. Accordingly, to the maximum
extent permitted by law, OD6 Metals and any of its affiliates and their directors, officers, employees, agents and
advisors disclaim any liability whether direct or indirect, express or limited, contractual, tortuois, statutory or
otherwise, in respect of, the accuracy, reliability or completeness of the information in this document, or likelihood
of fulfilment of any forward-looking statement or any event or results expressed or implied in any forward-looking
statement; and do not make any representation or warranty, express or implied, as to the accuracy, reliability or
completeness of the information in this document, or likelihood of fulfilment of any forward-looking statement
or any event or results expressed or implied in any forward-looking statement; and disclaim all responsibility and
liability for these forward-looking statements (including, without limitation, liability for negligence).
Competent Persons Statement
Information in this report relating to rock chip samples, field observations, exploration results and summary of
historical mine production records is based on information compiled by Dr Darren Holden who is a Fellow of the
Australasian Institute of Mining and Metallurgy.
Dr Holden is an employee of GeoSpy Pty Ltd and is a geological advisor to the Company and 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 by the 2012 Edition of the Australasian
Code for reporting of Exploration Results, Mineral Resources and Ore Reserves. Dr Holden owns shares in the
Company and participates in the Companyâs employee securities incentive plan. Dr Holden consents to the
inclusion of the data in the form and context in which it appears.
No new information
Except where explicitly stated, this announcement contains references to prior exploration results, all of which
have been cross-referenced to previous market announcements made by the Company. The Company confirms
that it is not aware of any new information or data that materially affects the information included in the relevant
market announcements.
This announcement has been authorised for release by the Board of OD6 Metals Limited.
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About OD6 Metals
OD6 Metals Limited is an Australian critical minerals exploration and development company with a portfolio spanning
fluorspar, rare earth elements and copper in the United States and Australia. The Company is focused on advancing
strategically important critical minerals required for next-generation industrial, defence and energy technologies.
Quinn Fluorspar Project â Nevada, USA
The Quinn Fluorspar Project in Nevada hosts extensive high-grade fluorspar mineralisation identified across multiple
prospects and is being rapidly advanced through exploration, metallurgical testwork and permitting. Quinn remains
significantly under-drilled, with OD6 progressing approvals for its maiden drilling and bulk sampling programs. Fluorspar is
designated as a critical mineral in the United States and is an essential raw material used across advanced industrial,
semiconductor, energy and defence supply chains.
Splinter Rock Rare Earth Project â Western Australia
The Company's Splinter Rock Rare Earth Project in Western Australia hosts one of Australia's largest clay-hosted rare earth
Mineral Resources. OD6 is advancing an innovative processing flowsheet incorporating heap leaching, nanofiltration and ion
exchange technologies, targeting the production of a high-quality Mixed Rare Earth Carbonate/Hydroxide product with a
strong proportion of the strategically important magnet rare earths neodymium and praseodymium.
Gulf Creek Copper Project â New South Wales
OD6 is also advancing the Gulf Creek Copper-Zinc VMS Project in New South Wales, a historically high-grade copper mining
district where recent exploration has identified significant opportunities for further discovery.
Corporate Directory
Mr Brett Hazelden, Managing Director
Mr Piers Lewis, Non-Executive Chairman
Dr Mitch Loan, Non-Executive Director
Mr Joel Ives, Financial Controller/ Joint Company Secretary
Mr Lewis Flynn, Joint Company Secretary
Dr Darren Holden, Technical Advisor to the Board
Contact
OD6 Metals Ltd
ACN 654 839 602
www.od6metals.com.au
Mail to: info@od6metals.com.au
Level 1, 1 Alvan Street, Subiaco, WA 6008
Phone: +61 8 6189 8515
Investor Relations
Lucas Robinson
Corporate Storytime
lucas@corporatestorytime.com
Phone: +61 408 228 889
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Appendix 1: results
Table 1 Rock chip samples compiled, from OD6 Metals recent campaign at Rainbow, Bruno & Red Bluff area. Coordinates in
NAD83 Zone 11.
SiteID Prospect Easting Northing RL CaF2(%) Comments
DH196 Red Bluff 599320 4214449 1987 22.6
Fluorspar in vein ~1m 55/35 (strike
/dip)
DH197 Red Bluff 599324 4214441 1985 58.4 Fluorspar in vein
DH198 Red Bluff 599268 4214414 1978 99.9 Fluorspar in vein 0.5 to 1m
DH199 Red Bluff 599249 4214394 1974 80.4 Workings sample
DH200 Red Bluff 599219 4214363 1965 5.7 Workings sample
DH201 Red Bluff 599146 4214317 1956 0.2 Mine spoil
DH202 Red Bluff 599146 4214317 1956 0.1
Chalcedonic quartz fractures in
epithermal alteration
DH203 Bruno 600700 4214719 2029 97.2 1-2m wide vein
DH204 Bruno 600722 4214759 2035 58.2 Fluorspar in veins
DH205 Bruno 600742 4214766 2037 92.1 Fluorspar (0.2m)
DH206 Bruno 600707 4214760 2035 0.6 Quartz vein
DH207 Rainbow 600409 4213311 2074 53.6
Highly altered volcanic with veins of
fluorspar
DH208 Rainbow 600422 4213346 2071 0.5
Volcanic ignimbrite possible fine
fluorspar in ground mass
DH209 Rainbow 600414 4213342 2071 7.2 Highly altered volcanic with fluorspar
DH210 Rainbow 600513 4212977 2078 89.6
1m wide shear vein with purple and
green fluorspar
JORC 2012 â Table 1: Quinn Fluorspar Project
Section 1 Sampling Techniques and Data
Criteria JORC Code explanation Commentary
Sampling techniques ⢠Nature and quality of sampling (eg 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 âindustry standardâ work has been
done this would be relatively simple (eg âreverse
circulation drilling was used to obtain 1 m samples
from which 3 kg was pulverised to produce a 30 g
charge for fire assayâ). 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 (eg submarine nodules) may warrant
disclosure of detailed information
⢠Rock chip samples are selective by nature and collected
by OD6 Metals geologists. Samples were collected to
establish grades of veins and either side of veins
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Criteria JORC Code explanation Commentary
Drilling techniques ⢠Drill type (eg core, reverse circulation, open-hole
hammer, rotary air blast, auger, Bangka, sonic,
etc) and details (eg 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 reported
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.
⢠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.
⢠No drill sampling reported
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.
⢠Geology recorded with each sample, as noted in the
appendix.
Sub-sampling 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 in situ 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.
⢠No sub-sampling reported
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 (eg
standards, blanks, duplicates, external laboratory
checks) and whether acceptable levels of accuracy
(ie lack of bias) and precision have been
established.
OD6 Metals
⢠Samples were delivered to ALS Global in Reno, NV for
preparation.
⢠Samples were sent to ALS Global in Perth, Australia for
re-assaying using F-XRF24 as noted in the results.
Accuracy reported by ALS for individual F assays is
Âą1.2%, though test work on 103 samples of the same
CRM, by ALS, averaged to the CRM.
⢠Laboratory standards, repeats inserted.
⢠All fluorine is assumed to report to CaF2. CaF2 is 48.7%
F. Results factor this stochiometric calculation based on
F results from the laboratory.
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.
⢠High-grade results are consistent with observed pure
fluorspar at the surface, and are consistent with large
format samples collected for metallurgical testwork at
Big Jim.
⢠One sample DH198 was pure fluorspar and recorded
assay of 48800ppm F, which returned effective assays,
on the stoichiometric equation of >100% CaF2. Given
the results presented offer scientific accuracy /
precision of Âą 1.2%, this sample was top-cut to 99.9%.
Location of data points ⢠Accuracy and quality of surveys used to locate drill
holes (collar and down-hole surveys), trenches,
mine workings and other locations used in Mineral
Resource estimation.
⢠Specification of the grid system used.
⢠Quality and adequacy of topographic control.
⢠Data points located in NAD83 Zone 11 and using hand-
held GPS with assumed accuracy of Âą5m.
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Criteria JORC Code explanation Commentary
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.
⢠Sampling confirms continuity of mineralization. Yet in
absence of drilling, does not provide sufficient
information for mineral resource estimation.
Orientation of data in
relation to geological
structure
⢠Whether the orientation of sampling achieves
unbiased sampling of possible structures and the
extent to which this is known, considering the
deposit type.
⢠If the relationship between the drilling orientation
and the orientation of key mineralised structures is
considered to have introduced a sampling bias, this
should be assessed and reported if material.
⢠Geological orientation is noted in the figures in the
body of the release. Widths of structures noted in the
body of the release.
Sample security ⢠The measures taken to ensure sample security. ⢠OD6 Samples were collected under the supervision of
the Competent Person, and were delivered to the
laboratory by the Competent Person.
Audits or reviews ⢠The results of any audits or reviews of sampling
techniques and data.
⢠No audits and reviews undertaken.
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section)
Criteria JORC Code explanation Commentary
Mineral tenement and
land tenure status
⢠Type, reference name/number, location and
ownership including agreements or material issues
with third parties such as joint ventures,
partnerships, overriding royalties, native title
interests, historical sites, wilderness or national
park and environmental settings.
⢠The security of the tenure held at the time of
reporting along with any known impediments to
obtaining a licence to operate in the area.
⢠11 new State of Nevada unpatented lode claims as
noted
⢠20 claims to be acquired from Mithril as noted
⢠Quinn Project now consists of 257 Mining Claims
⢠Staked in 2025 and 2026
⢠Other than Rainbow/Bruno the Projects fall on Federal
Land (National Forest) but are outside of the
designated Wilderness Study Areas
⢠The transaction terms do not include a royalty to
Mithril. As noted in previous releases, transaction
terms with the vendor for other Quinn Projects include
a 2% NSR on future production on Horseshoe,
Mammoth & Bonanza is incl; but does not apply to Blue
Bell, Cortez, Rainbow/ Bruno or Nyco. Applicable State
Royalties will apply.
⢠Future work
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