Announcement PDF ASX Announcement 15 August 2023 ASX: OD6 Phase 3 Drilling Complete at Splinter Rock Critical Rare Earth Project OD6 Metals Limited (OD6 or the Company) is pleased to advise that Phase 3 drilling is complete at its Splinter Rock Clay Hosted Rare Earth Project, located northeast of Esperance in Western Australia. Highlights: • Phase 3 Aircore (AC) drilling program complete at Splinter Rock • Total of 145 holes drilled for 7,435m at approximate average depth of 51m and maximum depth of 104m • Program designed to test the length extension and determine the grade continuity and thickness at key Centre and Prop Prospect areas • The Phase 3 drilling has identified clays across a 16km length at Centre and 11km length at Prop with widths between 4 to 5 km previously identified in Phase 1 and 2 drilling. • Observed clay thickness continues to correlate strongly with data obtained from previously completed Airborne Electromagnetic Survey (AEM) • Assay results expected during Q3 2023 • Strong potential for a Mineral Resource Estimate expansion and classification upgrade Q4 2023 Brett Hazelden, Managing Director, commented: “This third phase of drilling at our flagship Splinter Rock Project program continues the advancement of our key Centre and Prop Prospect areas. Our focus was to further test the significant length of these areas, whilst also determining the continuity of grade and thickness of clay extensions. We are delighted to confirm clay thicknesses initially observed, strongly correlate with, and validate, the Airborne Electromagnetic Survey data, providing our team with further confidence in our exploration methodology. OD6 is grateful for the continued support from the Department of Mines, Industry Regulation and Safety whose funding, via the Exploration Incentive Scheme helped facilitate the expedition of this drill program.” We eagerly await assay results and look forward to confirming our aim of significantly expanding on the length of the main prospects and growing our clay hosted rare earths discovery even further.” 1 Infill drilling continues to confirm thick clay horizons Phase 3 AC drilling is complete at the Splinter Rock Critical Rare Earth Project. The program was designed to test the localised consistency of clay type, thickness and grades at the Scrum, Centre, Flanker and Prop Prospect areas (refer Figure 1). A total of 145-holes for 7,435m was drilled at an approximate average depth of 51m and maximum depth of 104m at 400m spacing interval. The drill program continues to confirm thick saprolite clay horizons at our two largest prospect areas (Prop and Centre), with samples currently being assayed for rare earth elements (REEs). The Company is compiling and reviewing drill hole logs to enable detailed mapping of clay depth and thickness. The phase 3 drilling has identified clays across a 16km length at Centre and 11km length at prop with widths between 4 to 5 km previously identified in Phase 1 and 2 drilling campaigns. Several planned holes were not completed as part of this drill program due to wet ground conditions and will be revisited as part of a fourth phase of drilling. Metallurgical samples will be selected for work at ANSTO once assays have been received. The Phase 3 drill program received funding through the Western Australian Governments Exploration Incentive Scheme Co-funded drilling program (refer ASX Announcement, 24 April 2023). Figure 1: Splinter Rock Project completed drilling locations. 2 AEM continues Drilling targeted the two largest clay basin areas identified through the Airborne to be highly accurate Electromagnetic Survey coloured yellow, red and pink in Figures 2 and 3, below (refer ASX Announcement, 15 December 2022). Drilling depths completed, and clay thicknesses observed strongly correlate with AEM data. This enables OD6 to avoid areas of granites (blue areas in Figures 2 and 3, below) and/or areas with minimal clays (green areas in the below) to focus drilling on the highly prospective clay zones (orange, red and pink areas the below). This approach minimises drilling and exploration expenditure, with drilling costs of approximately A$35 per meter and total all in cost per meter including earthworks, heritage surveys, assays, equipment, travel and other miscellaneous items totalling under A$100 per meter. Figure 2: AEM Mid time electromagnetic conductivity model of Scrum and Centre Prospects with infill drilling locations shown in red. Yellow, red, pink areas interpreted to indicated thicker clay zones, with blue areas the granites). 3 Figure 3: AEM Mid time electromagnetic conductivity model of Flanker and Prop Prospects with infill drilling locations shown in red. Yellow, red, pink areas interpreted to indicated thicker clay zones, with blue areas the granites). Program • Phase 3 drilling assays are expected to be returned during Q3 2023 timeline • Final AEM data processing and 3D modelling expected to be completed during Q4 2023 • Metallurgical testing and mineralogy assessments at ANSTO scheduled to be progressively returned during Q3 and Q4 2023 • Additional Hylogger analysis of the cross-sections of the Prop and Centre prospect to further enhance understanding of drillcore mineralogy is expected to be returned from CSIRO during Q4 2023 4 Visual Mineralisation Cautionary Statement In relation to the disclosure of visual mineralisation, the Company cautions that visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analysis. Laboratory assay results are required to determine the widths and grade of the visible mineralisation reported in preliminary geological logging. The Company will update the market when laboratory analytical results become available. The reported intersections are down hole measurements and are not necessarily true width. Descriptions of the mineral amounts seen and logged in the core are qualitative, visual estimates only (they are listed in order of abundance of estimated combined percentages). Quantitative assays will be completed by ALS Global in Perth Western Australia 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. Competent Persons Statement Information in this report relating to Exploration Results is based on information reviewed by Jeremy Peters, who is a Fellow of the Australasian Institute of Mining and Metallurgy and a Chartered Professional Geologist and Mining Engineer of that organisation. Mr Peters is an independent consultant of Burnt Shirt Pty Ltd 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. Mr Peters consents to the inclusion of the data in the form and context in which it appears. 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 ‘project’, ‘foresee’, ‘plan’, ‘expect’, ‘aim’, ‘intend’, ‘anticipate’, ‘believe’, ‘estimate’, ‘may’, ‘should’, ‘will’ 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, tortuous, 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). This announcement has been authorised for release by the Board of OD6 Metals Limited 5 About OD6 Metals OD6 Metals is an Australian public company pursuing exploration and development opportunities within the critical mineral sector. The Company has successfully identified clay hosted rare earths at its 100% owned Splinter Rock and Grass Patch Projects, which are located in the Esperance-Goldfields region of Western Australia - about 30 to 150km northeast of the major port and town of Esperance. Drilling and geological analysis at its flagship Splinter Rock has shown widespread, thick, high-grade clay hosted REE deposits that extend over hundreds of square kilometres. Metallurgical testing using hydrochloric acid to leach the rare earths have resulted in positive REE recoveries with optimisation ongoing. The Company aims to delineate and define economic resources and reserves of Rare Earth Elements (REE), in particular Neodymium (Nd) and Praseodymium (Pr), which can be developed into a future revenue generating mine. Clay REE deposits are currently economically extracted in China, which is the dominant world producer of REEs. REE are becoming increasingly important in the global economy, with uses including advanced electronics and permanent magnets in electric motors. As an example, a neodymium magnet used in a wind turbine or electric vehicle motor is 18 times stronger than a standard ferrite magnet significantly increasing energy use efficiency. As part of the exploration process the Company has entered into heritage agreements with Esperance Tjaltrjraak Native Title Aboriginal Corporation and the Ngadju Native Title Aboriginal Corporation that serves to both enable exploration and protect important cultural sites on Country. Corporate Directory Managing Director Mr Brett Hazelden Non-Executive Chairman Dr Darren Holden Non-Executive Director Mr Piers Lewis Non-Executive Director Dr Mitch Loan Financial Controller/ Joint Company Secretary Mr Troy Cavanagh Joint Company Secretary Mr Joel Ives Exploration Manager Tim Jones Contact OD6 Metals Ltd ACN 654 839 602 www.od6metals.com.au Mail to: info@od6metals.com.au Phone: +61 8 6189 8515 Level 1, 50 Kings Park Road, West Perth, WA 6005 PO Box 277, North Beach, WA 6920 PO Box 2009, Esperance, WA 6450 6 Drilling Details (Third Phase – June to August 2023) Hole ID Type Easting Northing RL (m) Azimuth (degrees) Dip (degrees) End of Hole (m) SRAC0280 SRAC0291 SRAC0292 SRAC0293 SRAC0294 SRAC0295 SRAC0296 AirCore AirCore AirCore AirCore AirCore AirCore AirCore 498360 499186 498859 498532 498269 498077 497824 6343465 6338152 6337922 6337692 6337390 6337038 6336728 227 206 207 209 204 202 202 0 0 0 0 0 0 0 -90 -90 -90 -90 -90 -90 -90 54.00 49.00 20.00 13.00 43.00 23.00 25.00 SRAC0297 SRAC0298 SRAC0299 SRAC0300 SRAC0301 SRAC0302 SRAC0303 SRAC0304 SRAC0306 SRAC0307 AirCore AirCore AirCore AirCore AirCore AirCore AirCore AirCore AirCore AirCore 497503 497181 496786 496404 496028 497440 497223 497006 497873 498089 6336490 6336252 6336316 6336432 6336565 6334719 6334383 6334047 6335386 6335722 204 202 205 208 211 205 205 207 201 202 0 0 0 0 0 0 0 0 0 0 -90 -90 -90 -90 -90 -90 -90 -90 -90 -90 36.00 47.00 23.00 55.00 36.00 41.00 43.00 39.00 48.00 27.00 SRAC0308 SRAC0309 SRAC0310 SRAC0311 SRAC0312 SRAC0313 SRAC0314 SRAC0315 SRAC0316 SRAC0317 AirCore AirCore AirCore AirCore AirCore AirCore AirCore AirCore AirCore AirCore 498313 498548 498814 499097 499346 499456 499566 499701 499906 500111 6336054 6336377 6336676 6336958 6337272 6337656 6338039 6338415 6338759 6339100 203 203 208 205 205 207 205 203 204 204 0 0 0 0 0 0 0 0 0 0 -90 -90 -90 -90 -90 -90 -90 -90 -90 -90 27.00 28.00 50.00 60.00 55.00 64.00 41.00 63.00 48.00 55.00 SRAC0318 SRAC0319 SRAC0320 SRAC0321 SRAC0322 SRAC0323 SRAC0324 SRAC0325 SRAC0326 AirCore AirCore AirCore AirCore AirCore AirCore AirCore AirCore AirCore 500359 500676 501015 501389 501762 501811 501832 501855 501260 6339413 6339656 6339867 6340009 6340149 6340546 6340945 6341344 6341403 204 203 202 204 202 204 205 203 203 0 0 0 0 0 0 0 0 0 -90 -90 -90 -90 -90 -90 -90 -90 -90 71.00 70.00 40.00 72.00 57.00 45.00 56.00 43.00 55.00 7 Hole ID Type Easting Northing RL (m) Azimuth (degrees) Dip (degrees) End of Hole (m) SRAC0327 SRAC0328 SRAC0329 SRAC0330 SRAC0331 SRAC0332 SRAC0333 SRAC0334 AirCore AirCore AirCore AirCore AirCore AirCore AirCore AirCore 501763 501762 501759 501756 501754 502130 502529 502930 6341732 6342132 6342532 6342932 6343332 6343468 6343475 6343481 203 204 204 205 203 204 201 201 0 0 0 0 0 0 0 0 -90 -90 -90 -90 -90 -90 -90 -90 60.00 52.00 61.00 49.00 42.00 48.00 73.00 57.00 SRAC0335 SRAC0336 SRAC0337 SRAC0338 AirCore AirCore AirCore AirCore 503329 503727 504100 504472 6343487 6343531 6343677 6343823 195 196 195 194 0 0 0 0 -90 -90 -90 -90 60.00 72.00 63.00 56.00 SRAC0339 SRAC0340 SRAC0341 SRAC0342 SRAC0343 SRAC0344 AirCore AirCore AirCore AirCore AirCore AirCore 504861 505260 505386 505512 505639 505765 6343919 6344002 6344381 6344760 6345139 6345519 193 193 191 191 191 189 0 0 0 0 0 0 -90 -90 -90 -90 -90 -90 63.00 70.00 74.00 70.00 67.00 45.00 SRAC0345 SRAC0351 SRAC0352 SRAC0353 SRAC0354 SRAC0355 SRAC0356 SRAC0357 SRAC0358 SRAC0359 AirCore AirCore AirCore AirCore AirCore AirCore AirCore AirCore AirCore AirCore 505890 500267 500567 500868 501167 501468 501767 502068 502177 501939 6345897 6338586 6338322 6338057 6337793 6337528 6337263 6336999 6336615 6336293 191 204 205 204 204 205 206 205 204 204 0 0 0 0 0 0 0 0 0 0 -90 -90 -90 -90 -90 -90 -90 -90 -90 -90 69.00 51.00 63.00 52.00 64.00 58.00 79.00 95.00 84.00 87.00 SRAC0360 SRAC0361 SRAC0362 SRAC0363 SRAC0364 SRAC0365 SRAC0366 SRAC0367 SRAC0368 AirCore AirCore AirCore AirCore AirCore AirCore AirCore AirCore AirCore 515834 515633 515408 515202 515007 514813 516842 516618 516364 6323899 6324245 6324575 6324916 6325264 6325615 6325117 6325449 6325756 149 147 144 146 146 143 154 149 146 0 0 0 0 0 0 0 0 0 -90 -90 -90 -90 -90 -90 -90 -90 -90 18.00 49.00 41.00 65.00 61.00 24.00 12.00 18.00 54.00 8 Hole ID Type Easting Northing RL (m) Azimuth (degrees) Dip (degrees) End of Hole (m) SRAC0369 SRAC0370 SRAC0371 SRAC0372 SRAC0373 SRAC0374 SRAC0375 SRAC0376 AirCore AirCore AirCore AirCore AirCore AirCore AirCore AirCore 516139 515493 515666 515375 517557 517577 517650 518106 6326079 6327157 6326792 6327536 6325690 6326089 6326483 6327739 147 147 148 146 154 151 146 149 0 0 0 0 0 0 0 0 -90 -90 -90 -90 -90 -90 -90 -90 71.00 24.00 56.00 53.00 59.00 17.00 60.00 38.00 SRAC0377 SRAC0378 SRAC0379 SRAC0380 AirCore AirCore AirCore AirCore 518227 518247 518251 512653 6328120 6328521 6328922 6325254 149 150 151 174 0 0 0 0 -90 -90 -90 -90 61.00 67.00 53.00 37.00 SRAC0381 SRAC0382 SRAC0383 SRAC0384 SRAC0385 SRAC0386 AirCore AirCore AirCore AirCore AirCore AirCore 513053 513452 513852 514320 514718 515407 6325253 6325250 6325247 6325246 6325247 6325241 175 162 147 147 147 146 0 0 0 0 0 0 -90 -90 -90 -90 -90 -90 40.00 26.00 10.00 40.00 40.00 27.00 SRAC0387 SRAC0388 SRAC0389 SRAC0390 SRAC0391 SRAC0392 SRAC0393 SRAC0394 SRAC0395 SRAC0396 AirCore AirCore AirCore AirCore AirCore AirCore AirCore AirCore AirCore AirCore 515806 516205 516607 517127 519528 519193 518890 518588 518048 517771 6325241 6325241 6325239 6325237 6327883 6328102 6328362 6328624 6329267 6329554 146 149 150 157 159 156 156 152 151 146 0 0 0 0 0 0 0 0 0 0 -90 -90 -90 -90 -90 -90 -90 -90 -90 -90 27.00 30.00 32.00 36.00 58.00 57.00 53.00 80.00 33.00 46.00 SRAC0397 SRAC0398 SRAC0399 SRAC0400 SRAC0401 SRAC0402 SRAC0403 SRAC0404 SRAC0405 AirCore AirCore AirCore AirCore AirCore AirCore AirCore AirCore AirCore 517487 517215 516907 517655 516895 516495 516095 515694 515294 6329839 6330131 6330385 6329347 6329352 6329353 6329354 6329357 6329359 147 143 146 148 149 146 147 147 149 0 0 0 0 0 0 0 0 0 -90 -90 -90 -90 -90 -90 -90 -90 -90 68.00 54.00 37.00 66.00 81.00 21.00 68.00 69.00 57.00 9 Hole ID Type Easting Northing RL (m) Azimuth (degrees) Dip (degrees) End of Hole (m) SRAC0406 SRAC0407 SRAC0408 SRAC0409 SRAC0410 SRAC0411 SRAC0412 SRAC0413 AirCore AirCore AirCore AirCore AirCore AirCore AirCore AirCore 514893 514492 514091 516540 516577 516580 516574 516570 6329362 6329362 6329364 6329751 6330149 6330549 6330949 6331348 149 148 146 145 150 146 144 151 0 0 0 0 0 0 0 0 -90 -90 -90 -90 -90 -90 -90 -90 56.00 46.00 40.00 34.00 66.00 60.00 34.00 35.00 SRAC0414 SRAC0415 SRAC0416 SRAC0417 AirCore AirCore AirCore AirCore 516553 516547 516542 523503 6332492 6332892 6333293 6331715 154 155 152 160 0 0 0 0 -90 -90 -90 -90 27.00 33.00 25.00 93.00 SRAC0418 SRAC0419 SRAC0420 SRAC0421 SRAC0422 SRAC0423 AirCore AirCore AirCore AirCore AirCore AirCore 523214 522916 522632 522351 521882 521597 6331991 6332259 6332540 6332824 6333319 6333601 160 161 167 167 163 163 0 0 0 0 0 0 -90 -90 -90 -90 -90 -90 68.00 74.00 73.00 60.00 104.00 23.00 SRAC0424 SRAC0425 SRAC0426 SRAC0427 SRAC0428 SRAC0429 SRAC0430 SRAC0431 SRAC0432 SRAC0433 AirCore AirCore AirCore AirCore AirCore AirCore AirCore AirCore AirCore AirCore 521223 520849 520488 520145 519774 518183 517803 517437 517069 516744 6333744 6333885 6334060 6334265 6334417 6335174 6335297 6335460 6335615 6335759 160 158 160 161 164 157 155 154 154 153 0 0 0 0 0 0 0 0 0 0 -90 -90 -90 -90 -90 -90 -90 -90 -90 -90 89.00 82.00 64.00 86.00 56.00 25.00 23.00 44.00 41.00 27.00 SRAC0439 SRAC0464 SRAC0465 SRAC0466 SRAC0467 SRAC0469 SRAC0470 AirCore AirCore AirCore AirCore AirCore AirCore AirCore 497687 515910 517779 517892 517964 501662 502305 6335034 6326443 6326787 6327096 6327444 6341390 6336788 202 146 142 143 144 203 203 0 0 0 0 0 0 0 -90 -90 -90 -90 -90 -90 -90 53.00 60.00 39.00 62.00 103.00 70.00 60.00 10 JORC 2012 – Table1: Splinter Rock Section 1 Sampling Techniques and Data (Criteria listed in the preceding section also apply to this section) Criteria JORC Code explanation Commentary Sampling techniques • • • • • Drilling techniques Drill sample recovery • • • • Logging • • • Sub-sampling techniques and sample preparation • • • • • • 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 ‘industry standard’ work has been done this would be relatively simple (eg ‘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 (eg submarine nodules) may warrant disclosure of detailed information. Drill type (eg core, reverse circulation, openhole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, facesampling bit or other type, whether core is oriented and if so, by what method, etc). 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. 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. 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 subsampling 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 • • • • • • • • • • • • • • • Geochemical sampling was undertaken by sampling of metre interval samples returned from the cyclone of a conventional aircore drilling rig. Certified reference samples, duplicates and blank samples were inserted into the sample stream such as to represent approximately 5% of the samples submitted to the laboratory for analysis Two composite samples were collected over three metre intervals – the first (the A sample) being submitted for laboratory analysis and the second (the B sample) being retained as a reference. A sample from each metre was collected and stored in a chip tray for logging and x-ray diffraction analysis Air core drilling was completed by hammer and blade industry standard drilling techniques Aircore is considered to be an appropriate drilling technique for saprolite clay Drilling used blade bits of 87mmØ with 3m length drill rods to blade refusal. Air core recoveries were not recorded but are not considered to be materially biased, given the nature of the geology and samples. The assay data will be analysed against control samples and historical assays for any indications of bias The Competent Person considers that due to the nature of the drilling and geology, sample bias is unlikely to result from poor recovery. All chips were logged qualitatively and quantitatively. A sample from each metre was collected and stored in a chip tray for logging Geological logs recorded lithology, colour and weathering. A composite sample of ~ 3kg for analysis was taken using a scoop from each metre pile to subsample 1 to 1.5kg sample. This was then dispatched to the laboratory. A second composite sample was similarly taken and stored on site as a reference Air core samples were a mix of wet and dry Certified reference samples, duplicates and blank samples were inserted into the sample stream such as to represent approximately 5% of the samples submitted to the laboratory for analysis 11 Criteria JORC Code explanation Quality of assay data and laboratory tests • • • Verification of sampling and assaying • • • • grain size of the material being sampled. 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. 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. Commentary • • • • • • “A Samples” were submitted for chemical analysis using industry standard sample preparation and analytical techniques including: • Riffle split all “A samples” to 50:50 bagging one half as a coarse reject for storage • Pulverise the balance of the material via LM-5 • Generate a standard 300g master pulp packet • Bag the balance as a bulk pulp master for storage Multi-Element Ultra Trace method ME-MS61r for exploration in soils or sediments. 4-Acid digest on 0.25g sample analysed via ICP-MS and ICP-AES. REEs included. Certified reference samples, duplicates and blank samples were inserted into the sample stream such as to represent approximately 5% of the samples submitted to the laboratory for analysis No holes were twinned (duplicated). Data stored in a database, with auto-validation of logging data, Multielement results (REE) are converted to stoichiometric oxide (REO) using element-tostoichiometric conversion factors. Element ppm Ce Dy Er Eu Gd Ho La Lu Nd Pr Sm Tb Tm Y Yb • • Location of data points • • • Data spacing and distribution • • • 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 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 • • • • • • • Conversion Factor 1.1713 1.1477 1.1435 1.1579 1.1526 1.1455 1.1728 1.1371 1.1664 1.1703 1.1596 1.1510 1.1421 1.2699 1.1387 Oxide Form CeO2 Dy2O3 Er2O3 Eu2O3 Gd2O3 Ho2O3 La2O3 Lu2O3 Nd2O3 Pr6O11 Sm2O3 Tb4O7 Tm2O3 Y2O3 Yb2O3 Rare earth oxide is the industry accepted form for reporting rare earths. The following calculations are used for compiling REO into their reporting and evaluation groups: TREO (Total Rare Earth Oxide) = La2O3 + CeO2 + Pr6O11 + Nd2O3 + Sm2O3 + Eu2O3 + Gd2O3 + Tb4O7 + Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Lu2O3 + Y2O3. Note that Y2O3 is included in the TREO calculation. Drill hole collars were located using a handheld GPS to +/-5m accuracy Grid system was MGA 94 Zone 51 Downhole survey was not undertaken, the holes being vertical No topography control was used, given the relatively flat topography Drilling intervals were closed to approximately 400m centres Downhole samples were taken on 1m intervals This drilling indicated excellent continuity, particularly when supported by the results of the Tempest Airborne Aeromagnetic Survey, which was used to define basin limits. Tempest Airborne Electromagnetic Survey (AEM), 12 Criteria JORC Code explanation applied. Commentary • • • • • • • 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. • • • • • undertaken by Xcalibur Multiphysics Data collected using the TEMPEST EM system (50Hz) using fixed wing aircraft. Nominal flight height of 120 m above ground level. GPS cycle rate of 1 second, accuracy 0.5m Altimeter accuracy of 0.05m Flight line spacing 400 to 800m. Conductivity measurements and sampling interval at approximately 11 to 12 metres along line. This data when combined with further drilling will be utilised to guide future mineral resource estimation Drillholes were vertical and approximately perpendicular to mineralisation hosted in flat lying clay-beds This orientation is not considered by the Competent Person to have introduced material sampling bias. For AEM data: Flight lines are North West- South East: drainage and regolith patterns show a regional slope down from NW to SE, whereas geological structure is dominantly NE-SW. The thickness of regolith presented in the crosssections is based on geophysical inversion modelling conducted by the CSIRO. This inversion modelling used Monte Carlo simulation known as RJMCMC regression based on Bodin and Sambridge (2009) https://doi.org/10.1111/j.1365246X.2009.04226.x & Minsley (2011) https://doi.org/10.1111/j.1365-246X.2011.05165.x with modifying parameters by CSIRO. refer ASX Announcement 5 October 2022 The RJMCMC method uses a comparison method to estimate the conductivity. Sample security • The measures taken to ensure sample security. • Samples were taken and dispatched by road freight direct to the analytical laboratory Aud