Announcement PDF ASX Announcement 16 October 2024 ASX: OD6 Heap Leach Testing Improves Metallurgical Recoveries Potential to reduce capital and operating costs of Splinter Rock Project OD6 Metals Limited (OD6 or the Company) is pleased to report very encouraging results from column leach metallurgical testing conducted by the Australian Nuclear Science and Technology Organisation (ANSTO). Highlights: • Column (Heap) Leach tests achieve significant and higher leach recoveries compared to conventional tank leaching • Inside Centre Prospect Column Leach recoveries of 79% Magnet Rare Earth Elements (MagREE) achieved - in comparison to the diagnostic stirred tank leach of 56% • Prop Prospect Column Leach recoveries of 65% MagREE achieved - in comparison to the diagnostic stirred tank leach of 50% • Importantly recoveries for all MagREE’s inclusive of Nd, Pr, Dy, Tb are high - this is the key to optimising project economics for any clay hosted rare earth project. • Low acid consumption shows potential for high-tonnage, low cost heap-leaching operations. • The simpler Heap Leach process has the potential to remove several capital intensive processing steps, which would simplify the flowsheet and reduce capital and operating costs Managing Director Brett Hazelden, commented: “It is clear that the current rare earth pricing environment requires us to come up with smarter and more costeffective solutions to ensure optimal project economics throughout the rare earths market cycle. These initial Heap Leach results are a potential game-changer for the economics of the Splinter Rock Project, achieving superior recoveries to a conventional tank leach. OD6, now have the potential to remove several processing steps simplifying the flowsheet and materially reducing capital and operating costs. Given these excellent results we have put the scoping study on hold until further works around heap leach testing can be completed. These results continue to affirm that Splinter Rock is Australia’s premier clay-hosted rare earth deposit and that when the REE market recovers, Splinter Rock will be amongst the earliest development opportunities.” MagREE (Magnet Rare Earths) = Nd + Pr + Tb + Dy) MagREO (Magnet Rare Earth Oxide) = Nd2O3 + Pr6O11 + Tb4O7 + Dy2O3 TREO (Total Rare Earth Oxide) = La2O3 + CeO2 + Pr6O11 + Nd2O3 + Sm2O3 + Eu2O3 + Gd2O3 + Tb4O7 + Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Lu2O3 + Y2O3. Inside Centre Prospect Results Inside Centre Prospect results are presented in Table 1 and Figures 1 & 2. The Inside Centre Prospect is a significant feeder channel running northeast into the main Centre Basin located within an elevated tableland, featuring multiple feeder channels and Booanya granite to the north. Based on the recovery results for both the stirred diagnostic leaching and small-scale column tests, the following observations can be made: • Column leach recoveries continue to increase over the 80 days - and are still leaching, meaning recoveries can be further optimised with a longer duration heap leach time frame • Column Leach recoveries are superior at 79% MagREE - in comparison to the diagnostic stirred tank leach of 56% • Indicative acid consumption was lower in the diagnostic test compared to the column leach. - This is as expected due to the longer duration of the column testing. • It is noted that Nd & Pr have very high recoveries at ~80%, - with Dy & Tb also comparatively high at 60 and 70% respectively. • The key difference between column leach and tank leach that is driving the recovery difference, is that the column leach process is continuously applying an impurity free liquor over 80 days, - where as a tank leach is stirred constantly for 24 hours in the same solution. Pr Nd Tb Dy 90 Cumulative Recovery (%) 80 70 60 50 40 30 20 10 0 0 10 20 30 40 50 60 70 80 90 Days under leach Figure 1: Inside Centre Composite Heap Leaching Results – Cumulative Recovery by Day 2 Table 1: Inside Centre Comparative Heap leaching and Diagnostic leaching results Sample Final Extraction (%) (Fusion Digest, liquids) Inside Centre Column Leach Inside Centre Diagnostic Leach Pr 80 58 Note: Nd 80 56 Tb 71 49 Dy 61 44 MagREE 79 56 Average Acid Consumption Kg/t 37.2 27.4 Column Leach Tests carried out at 25 g/l HCl at 22°C for 80 days at an irrigation rate of 5 L/m2/h Diagnostic Leach Tests carried out at 25 g/l HCl at 30°C for 24 hours at a slurry density of 4 wt% There will be some variation between original head grade total assay and the sum of residual solid and liquor assays which is not accounted for. Recoveries only reflect initial rare earth leaching, with further losses expected in precipitation, impurity removal, purification and drying. Cumulative Recovery (%) OD6-C1 (Inside Centre) Extraction by Element 100 90 80 70 60 50 40 30 20 10 0 La Ce Pr Nd Sm Eu Gd Tb Dy Ho Er Tm Yb Lu Y Rare Earth Element Figure 2: Inside Centre Column Leach REE Recovery by Element Prop Prospect Results Prop Prospect results are presented in Table 2 and Figure 3 & 4. The Prop Prospect is located at the lowest elevation at Splinter Rock and is surrounded by Booanya granite to the north and south, is interpreted to be a paleo-valley filled with clay, featuring multiple feeder channels. Based on the recovery results for both the stirred diagnostic leaching and small-scale column tests, the following observations can be made: • Column leach recoveries continue to increase over the 80 days -, and are still leaching, meaning recoveries can be further optimised with a longer duration heap leach time frame • Column Leach recoveries are superior at 65% MagREE - in comparison to the diagnostic stirred tank leach of 50% • Indicative acid consumption was lower in the diagnostic test compared to the column leach. - This is as expected due to the longer duration of the column testing. • It is noted that Nd & Pr have similar recoveries than Dy & Tb for both tests. • The key difference between column leach and tank leach that is driving the recovery difference, is that the column leach process is continuously applying an impurity free liquor over 80 days, - where as a tank leach is stirred constantly for 24 hours in the same solution. 3 Pr Nd Tb Dy 100 Cumulative Recovery (%) 90 80 70 60 50 40 30 20 10 0 0 10 20 30 40 50 60 70 80 90 Days under leach Figure 3: Prop Composite Heap Leaching Results – Cumulative Recovery by Day Table 2: Prop Comparative Heap leaching and Diagnostic leaching results Sample Final Extraction (%) (Fusion Digest, liquids) Prop Column Leach Pro Diagnostic Leach Pr 64 51 Note: Nd 65 50 Tb 67 58 Dy 61 49 MagREE 65 50 Average Acid Consumption Kg/t 62.5 40 Column Leach Tests carried out at 25 g/l HCl at 22°C for 80 days at an irrigation rate of 5 L/m2/h Diagnostic Leach Tests carried out at 25 g/l HCl at 30°C for 24 hours at a slurry density of 4 wt% There will be some variation between original head grade total assay and the sum of residual solid and liquor assays which is not accounted for. Recoveries only reflect initial rare earth leaching, with further losses expected in precipitation, impurity removal, purification and drying. OD6-C2 (Prop) Extraction by Element 100 Cumulative Recovery (%) 90 80 70 60 50 40 30 20 10 0 La Ce Pr Nd Sm Eu Gd Tb Dy Ho Er Tm Yb Lu Y Rare Earth Element Figure 4: Prop Prospect Column Leach REE Recovery by Element 4 Simplified Heap Leach Processing Steps Based on the initial small scale column leach testing, OD6 metals has identified the following simplified Heap Leach processing steps shown in Figure 5. The Heap process when compared to the Tank Leach process has the potential to remove several expensive processing steps, namely leach tanks, thickening, clay washing, solid liquid separation, total power requirements and total water requirements, which would reduce capital and operating costs significantly Figure 6: Indicative processing steps Heap Leach 5 Column Agglomerate Photos – Pre and Post Leaching The below two photos show the Inside Centre agglomerate being prepared, inclusive of “snow ball test”. The below photo shows the agglomerated material unloaded from the column after 80 days of leaching. It is worth noting the agglomerate remained competent after unloading and had not turned into a single clay lump. 6 Metallurgical Sample Selection and Testing Approach The Company has created two separate composite samples for the Inside Centre and Prop Prospects that represent an area of consistent geology, prior metallurgical outcomes, low striping ratios and significant grades. A total 6 holes were selected to composite at Inside Centre and 8 holes at Prop - refer to Figures 6 and 7 for sample locations. The Composite samples have been combined by weight to reflect the intercept length to maintain representativity and minimise any bias. Each Composite was subject to both stirred diagnostic leaching and small-scale column (heap leach) tests to provide: • a direct comparison on extraction methods • recovery of the various rare earth elements over time • confirmation of leach conditions • obtain indicative acid consumption figures • provide future samples for Impurity removal, solid liquid separation and other tests (work still ongoing) Column (Heap) Leach tests agglomerated the samples with a small amount of flocculant (~300g/t) to wet the ore and bind the fines together. They are then irrigated with 25 g/l HCl lixiviant and run at ANSTO’s standard column operating conditions for the duration of the tests. The column tests were conducted over an 80 day period with samples still extracting rare earths at the end of this period. Diagnostic leach tests utilised a 25 g/L hydrochloric acid, at notionally ambient conditions and pressures, over a 24-hour period. For consistency, the leach conditions were selected based on previously announced parameters. Figure 6: Inside Centre Composite Sample Locations overlain on airborne electromagnetic survey interpretation 7 Figure 7: Prop Composite Sample Locations overlain on airborne electromagnetic survey interpretation 8 Competent Persons Statement The scientific and technical information that relates to process metallurgy is based on information reviewed by Mr Brett Hazelden (Managing Director and CEO) of OD6 Metals Limited. Mr Hazelden is a member of the AusIMM and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined by the JORC Code. Mr Hazelden owns shares in the Company and participates in the Company’s employee securities incentive plan. Mr Hazelden consents to the inclusion in this announcement of the matters based on their information in the form and context in which it appears. Information in this report relating to Mineral Resource estimation and Exploration Results is based on information reviewed by Mr 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 a Director of Burnt Shirt Pty Ltd, consulting to OD6 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 9 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 WA - about 30 to 150km northeast of the major port and town of Esperance. REE are becoming increasingly important in the global economy, with uses including advanced electronics and permanent magnets electric motors in electric vehicles, wind turbines and robotics. An updated Mineral Resource Estimate (MRE) for the flagship Splinter Rock Rare Earths Project was released in May 2024 and has confirmed that Splinter Rock hosts the largest and highestgrade clay-hosted rare earths deposit in Australia with a Resource of 682Mt @ 1,338ppm TREO. The Splinter Rock MRE indicates that high-value Magnetic Rare Earths (MagREE) such Neodymium (Nd), Praseodymium (Pr), Dysprosium (Dy) and Terbium (Tb) represent ~23% of the deposit. Metallurgical testing using hydrochloric acid to leach the rare earths have resulted in positive REE recoveries with optimisation ongoing. The Inside Centre Prospect is a main focus of the company given its metallurgical recoveries, high grade, low strip ratio and its considerable thickness. 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 Mr Wayne Bramwell Non-Executive Director 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 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 10 Metallurgical Composite Drill Hole Location Details Hole ID Type Easting Northing RL (m) Dip (degrees) Depth(s) Inside Centre Composite SRAC0225 Aircore 501815 6336021 204.1 -90 33-86 SRAC0226 Aircore 501953 6335879 204.4 -90 21-81 SRAC0266 Aircore 501399 6336445 205.4 -90 21-58 SRAC0357 Aircore 502068 6336999 204.9 -90 39-90 SRAC0358 Aircore 502177 6336615 204.0 -90 36-84 SRAC0359 Aircore 501939 6336293 203.5 -90 27-87 SRAC0152 Aircore 519126 6326958 145.3 -90 3-21 SRAC0377 Aircore 518227 6328120 149 -90 39-61 SRAC0397 Aircore 517487 6329839 146.6 -90 24-33, 54-68 SRAC0398 Aircore 517215 6330131 143.2 -90 33-54 SRAC0399 Aircore 516907 6330385 145.6 -90 18-37 SRAC0401 Aircore 516895 6329352 148.9 -90 66-78 SRAC0402 Aircore 516495 6329353 146.3 -90 18-21 SRAC0433 Aircore 516744 6335759 153.3 -90 12-27 Prop Composite 11 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 grain size of the material being sampled. • • • • • • • • • • • • • • • • Geochemical sampling was undertaken by sampling of metre interval samples returned from the cyclone of a conventional air core drilling rig. Certified reference samples, duplicates and blank samples were inserted into the drill 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. Drill intercept samples for the two heap leaching metallurgical composites were obtained from the ‘B’ samples located on the company’s Exploration Licenses. Samples were sent to ANSTO for making up the composites and completing the testwork. 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 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 Heap Leach test samples were composited from the B samples by weight to reflect the intercept length to maintain representativity and minimise any bias 12 Criteria JORC Code explanation Commentary 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. • 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. • • • Verification of sampling and assaying • • • • • • • • • “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. The final column residues were also analysed. The following techniques were used: • XRF at ANSTO for major gangue elements (Al, Ca, Cu, Fe, K, Mg, Mn, Na, Ni, P, Si, Sr, Zn) and a range of minor elements • The REEs along with Y, U, Th and Sc in the samples will be analysed by tetraborate fusion digest/ICP-MS (lithium tetraborate method) and four acid digest/ICP-MS at ALS Geochemistry Laboratory, Brisbane Certified reference samples, duplicates and blank samples were inserted into the drill 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 • • 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. • • • Conversion Factor 1.2284 1.1477 1.1435 1.1579 1.1526 1.1455 1.1728 1.1371 1.1664 1.2082 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 13 Criteria Data spacing and distribution JORC Code explanation Commentary • Quality and adequacy of topographic control. • No topography control was used, given the relatively flat topography • 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. • Drilling intervals were closed to approximately 200m centres where historic drilling returned elevated REE assays 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), 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 • • • • • • • • • • • • 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. • • • • • 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 Audits or reviews • The results of any audits or reviews of sampling techniques and data. • The Independent Competent Person (Jeremy Peters) reviewed the sampling techniques and data collection. The Independent Competent Person has previously completed a site visit during drilling to verify sampling techniques and data collection. 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 • • The Splinter Rock Project is held by Odette Six Pty Ltd which is a 100% owned subsidiary of OD6 Metals Ltd. Granted exploration Licences include E63/2115, E69/3904, E69/3905, E69/3907, E69/3893, E69/3894. The ELs predominantly overly vacant crown land with a small portion of freehold agricultural land 14 Criteria JORC Code explanation to obtaining a licence to operate in the area. Exploration done by other parties • Acknowledgment and appraisal of exploration by other parties. Commentary • • • • Geology • Deposit type, geological setting and style of mineralisation. • •