ASX Announcement 22 October 2024

For personal use only

Aucu - Gold and Copper Project Update

High Grades Returned up to 17.4gpt Gold and 4.9% Copper

HIGHLIGHTS:

• Highly Prospective with Numerous Walk Up Drill Targets - multiple artisanal gold and copper workings

are evidenced within the Project area and work undertaken by the Company to date has identified multiple

exploration targets for immediate walk-up drilling.

• High Grade Copper and Gold – better results from the rock chip sampling program included:

o Gold (gpt) – 1, 1.3, 1.5, 2.2, 3.4 and two very high samples of >17.0 gpt

o Copper (%) – 0.2, 0.35, 0.5, 1.35, 1.8 and two very high samples of >4.8%

• Historical Proven Gold and Copper Province – the concession area is situated in a historical Gold and

Copper province of Tete, which is approximately 200km south of the Chifunde Gold Project owned by Africa

Lion Gold.

• Maiden Field Work and Drill Programme Planning Underway – scheduled to commence for early

November, comprising of field mapping, rock chip/soil sampling, aeromagnetic survey and a first pass

2,000m RC drilling programme. Before field work commences, an environmental, cultural and safety

assessment will be undertaken.

• Business development - this Project represents a successful start to the first of the planned business

development activities with the goal of increasing shareholder value.

Triton Minerals Limited ("Triton" or "the Company") is pleased to provide a Project update for the Aucu Project (the
“Project”) located in the province of Tete in central west Mozambique. This follows the announcement on 1 October that
the Company entered into binding memorandum of understanding to acquire up to 80% of the “Aucu” Project (the
“Project”) located in the province of Tete in central west Mozambique 1.

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 AUCU PROJECT

The Project comprises of a single large exploration tenement (under application) covering 588km2 (26,000 hectares)
which is double the size of the Ancuabe Mineral Concession and situated approximately 45km Northeast from the
provincial capital city of Tete.
Tete Province, Mozambique
The Project is located in Tete Province, which is Mozambique Premier Mining area, which boasts a number of large coal
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mines and has numerous large scale advanced development project for iron ore, vanadium, gold and base metals. This
is a favorable historical proven gold and copper province, which is approximately 200km south of the Chifunde Gold
Project owned by Africa Lion Gold.
The Project will benefit from its proximity to existing mining operations and infrastructure, including the provincial capital
of Tete, which is a major provincial service center that will provide access to skilled labor, suppliers and contractors, plus
regional flights and transport. Existing mining operations are the Vale Coal Mine (Vulcan International Moatize Coal Mine)
and Benga Mine (ICVL), which is serviced by a rail line to the ports of Nacala and Biera

Figure 1: Aucu Project Location – Tete Province of Mozambique

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 Project Area, Moatize District
The Project area is located in Moatize district which is the principal town and administrative centre of the Moatize District
in western Mozambique's Tete Province. It is located on the eastern side of the Zambezi River at the confluence of the
Moatize and Revuboe Rivers. After Tete, it is the second largest urban area, by population, in western Mozambique.
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Figure 2: Project Location – Aucu Tete

The Project represents a significant opportunity for exploration and development within the region comprising some
588km2 (26,000 hectares) as no modern exploration has been recorded in the project area. Coupled with widespread
artisanal mines, Triton sees a very real possibility of a mineral deposit discovery.
The Project once granted will be available for systematic and modern-day exploration programs to be conducted on a
broad scale. Future exploration programs will initially follow-up preliminary targets generated from regional
reconnaissance mapping and rock chip/soil sampling programs completed during the project due diligence site visit, which
identified numerous artisanal workings the majority of which extended to approximately between 5m below surface with
a some extending up to 30m below surface.
Regional Geology
Tete province sits within the prolifically mineralised Mozambique Belt. Relevant aspects of the regional geology are
illustrated in Figure 3, which is dominated by igneous and sedimentary rocks. The Precambrian rocks are divided into two
contrasting segments by a major zone of cataclasis and shearing the Sanangoe Zone (Hunting 1984; Barr et al. in
preparation). The northern zone dominated by granite and sienite with intrusions of granitoids, metasediments and
Vulcanic rocks and underlain by belts of gneisses and granulites separated by large tracts of granite.
These rocks are intruded by later suites of granite and ultramafic rocks. Gabbro-anorthosite complexes are concentrated
in the eastern area of gneisses and granulites which have complex structures lacking a regional grain. They also occur
as resistors in later granites.
That part of the province east of Desaranhama Granite is also composed of gneisses and granulites (Angonia Group,
Figure 3) but contrasts with areas further west in having regular north-northwest trends, apparent not only on the
geological map but also in the airborne magnetic and spectrometric data. These rocks are continuous with those in the
Kirk Plateau and Dedza areas of Malawi (Bloomfield and Garson 1965; Thatcher 1965).

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 The country rocks south of the thrust Zone are strongly contrasted with those to the north. Granite which is very widespread
and plentiful to the north is subordinate to biotite and hornblende gneiss. The gneisses and associated metasediments
are involved in periclinal folding which is the main structural feature of southern Tete Province and indeed of the whole
vast tract of country extending down and eastern margin of the Zimbabwe Craton (Vail 1964; Hunting 1984). This zone is
characterized by a diversity of geological formations that span different ages and types of rocks, with notable karoo
formations, which are important deposits of coal, the Tete Complex appears to form part of this gneissic sequence. The
region is known for its wealth of minerals resources, making it an area of interest for exploration of coal, as well as other
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metals such as copper and gold.

Figure 3: Regional Geology Map

Aucu Project Geology
Reconnaissance field work conducted on the tenement (Figure 4) has discovered high grade gold and copper
mineralization in various areas. This tenement comprises a ferruginous Quartz Feldspathic vein (Gossan) system
undulating over most of the area and evidencing intrusions into the dominant formation, the tenement area is within the
Tete Gabbro-Anorthosite complex which lies immediately to the West of the Moatize Carboniferous Basin.
The lithology is mostly composed of gabbro and anorthosite and contains some ultramafic rocks. Gneisses were observed
at the Eastern extent of the License and in the SE Calco silicates and marbles were mapped.
In the project area, mafic and ultramafic rocks, with marble are found at the southeast conner of the concession. Fresh
gabbro is a grey, homogeneous, unfoliated medium to very coarse-grained granular rock. The main minerals are
plagioclase (sodic labradorite), pyroxene and Fe Ti oxides. The pyroxene is either augite or hypersthene in many gabbros
and norites, both pyroxenes occur, often in intergrowths; In a few cases, they are accompanied by olivine. Light brownish
to greenish grey, medium grained marble forms low ridges parallel to the contact of the Tete Suite. The observed thickness
of the steeply southeast dipping, pure marble layers is about 30 m, and the distinct bedding visible on weathering surfaces
advocates a sedimentary protolith occur in some parts along the rims of the Chacocoma and Mazoe domes, where they
have largely been modified into coarse remobilised masses or remobilised into tectonic breccias of the wall rock, in
association with silicification Carbonate rocks with tectonically mixed aspect in places contain calc silicates, whose role
is not clear In the project area. Concentrations of gold, copper and iron can be found in the hydrothermally altered shear
zones intersecting the supracrustals of the Fíngoè Supergroup Banded iron formations with low grades of gold and
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 sulphides are common in the mafic and pyroclastic volcanics in the lower part of the Fíngoè Supergroup in Tete, calcitic
marble has been quarried at Boroma for producing lime.
A pervasive quartzo-feldspathic rock mapped across much of the tenement surveyed often displays ferruginous (gossan)
alteration. This alteration hosts most of the artisanal mining within the license.
Copper mineralisation in the form of malachite associated with gabbro is common within the License. Some artisanal
mining groups are already mining malachite in commercial quantities.
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Project Due Diligence and Artisanal Workings
During the project due diligence site visit a reconnaissance mapping and rock chip/soil sampling program was completed,
which identified aapproximately 9 areas of artisanal mining workings of both underground and open pit activities as per
figures 7 and 8. The underground workings extended to approximately between 5m and 10m below surface with some
extending up to 30m below surface, with some using mechanised equipment and explosives for blasting. The pits range
up to 10m deep. A total of 19 samples were collected during assessment of the project.

Figure 4: Aucu Project Field Mapping - Outcrop and Artisanal Mining Locations

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 The samples collected are mostly gossan, gabbro with malachite and pyroxenites from different outcrops as per figures
5 and 6.

The purpose of the sample analysis was to assess and evaluate specific mineral composition of the rocks and soil to
understand the area, to make informed decisions about the area and identify potential mineral deposits.
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Figure 5: Copper mineralization assayed in green Malachite 4.8% Figure 6: Gold mineralization assayed 17.5 (g/t) in Ferruginous
Quartz Feldspathic vein (Gossan)X

Figure 7: Artisanal mining following ferruginous quartz Figure 8: Artisanal mining following green malachite
vein gold mining in the Project area

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For personal use only

Figure 9: Artisanal Mining Locations Observed

Where outcropping mineralization has been exploited by artisanal miners, Triton has returned rock chip samples
containing strong gold and copper mineralization in the afore mentioned ferruginous quartzo-feldspathic vein (gossan).

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 From the 19 reconnaissance samples collected during the due diligence site visit, high grade copper and gold assay
results have been received as per Table 1. From the collected samples gold was consistently elevated (up to 17.5g/t) with
associated copper to 4.8 (%) (Table 1, Figures 4 and 6).
Some of the better results are:
• Gold (gpt) – 1, 1.3, 1.5, 2.2, 3.4 and two very high samples of >17.0gpt
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• Copper (%) – 0.2, 0.35, 0.5, 1.35, 1.8 and two very high samples of >4.8%

Sample ID Prospect Easting (m) Northing (m) Cu (%) Au (g/t)

MTZ A001 Tete AuCu 586421 8227947 0.36 1.33

MTZ A002 Tete AuCu 586421 8227947 0.20 0.99

MTZ A003 Tete AuCu 585286 8225980 0.01 0.10

MTZ A004 Tete AuCu 585355 8225911 0.01 0.09

MTZ A005 Tete AuCu 585522 8226802 4.89 0.09

MTZ A006 Tete AuCu 588935 8229725 4.84 0.20

MTZ A007 Tete AuCu 588935 8229725 0.58 0.38

MTZ A008 Tete AuCu 590082 8232536 0.53 1.46

MTZ A009 Tete AuCu 590421 8233531 0.01 0.09

MTZ A011 Tete AuCu 594228 8236145 0.10 0.12

MTZ A012 Tete AuCu 592409 8237168 0.16 0.12

MTZ A013 Tete AuCu 594091 8233350 0.04 3.43

MTZ A014 Tete AuCu 591124 8226706 0.01 0.10

MTZ A015 Tete AuCu 591162 8226772 1.35 0.07

MTZ A016 Tete AuCu 590162 8226884 0.01 2.19

MTZ A017 Tete AuCu 590162 8226884 DL 0.24

MTZ A018 Tete AuCu 581915 8232463 0.24 17.44

MTZ A018 Tete AuCu 581915 8232463 0.24 17.37

MTZ A019 Tete AuCu 581915 8232463 1.78 0.82

Table 1: Rock chip assay summary results

MAIDEN PROJECT WORKS PLANNED

This first pass orientation sampling has allowed Triton to assess and evaluate potential drill targets for further work in
locating economically significant ore deposits. The multiple artisanal gold workings evidenced within the project area and
work undertaken to date has identified multiple exploration targets for follow up.

Future exploration programs will initially follow-up preliminary targets generated from regional rock chip and soil sampling
programs completed during the due diligence, which identified numerous artisanal workings, the majority of which
extended to approximately between 5m below surface with a some extending up to 30m below surface.

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 Subject to the approval of the INAMI (Mozambique Mine Department) application, the following field works are planned
over the Project in early November;

• Field mapping
• Rock chip and soil sampling
• Aeromagnetic survey
• First pass 2,000m RC drilling programme.
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Before field work commences, an environmental, cultural and safety assessment will be undertaken.
Triton’s Executive Director and COO, Adrian Costello said:
“While we wait for the application to be approved, we are pleased to be advancing preparation and planning for the on-
ground exploration works at our new Project.
The Aucu Project presents Triton with a truly unique exploration opportunity as it is highly prospective for a number of
commodities, has significant scale, good location, favourable geological setting and a truly underexplored status.
Upon approval of the application, we are looking forward commencing field work and generating drilling targets in the near
term.”

FOOTNOTES:
1 ASX Announcement – 01 October 2024, Acquisition of a Gold and Copper Project in Tete Mozambique

This announcement was authorised for release by the Board of Directors.

For further information please contact:

Investor Enquiries

[email protected]
+61 8 6381 9050

Forward looking statements

This release may include forward-looking statements. These forward-looking statements are not historical facts but rather
are based on Triton Minerals Limited’s current expectations, estimates and assumptions about the industry in which Triton
Minerals Limited operates, and beliefs and assumptions regarding Triton Minerals Limited ‘s future performance. Words
such as “anticipates”, “expects”, “intends”, “plans”, “believes”, “seeks”, “estimates”, “potential” and similar expressions are
intended to identify forward-looking statements. Forward looking statements are only predictions and not guaranteed, and
they are subject to known and unknown risks uncertainties and assumptions, some of which are outside the control of
Triton Minerals Limited.
Actual values, results or events may be materially different to those expressed or implied in this release. Past performance
is not necessarily a guide to future performance and no representation or warranty is made as to the likelihood of
achievement or reasonableness of any forward-looking statements or other forecast. Given these uncertainties, recipients
are cautioned not to place reliance on forward looking statements. Any forward-looking statements in this release speak
only at the date of issue of this release. Subject to any continuing obligations under applicable law and the ASX Listing
Rules, Triton Minerals Limited does not undertake any obligation to update or revise any information or any of the forward-
looking statements in this release or any changes in events, conditions or circumstances on which any such forward
looking statement is based.
Qualified Person Statement
Scientific or technical information in this disclosure that relates to the Aucu Project is based on information reviewed and
approved by Mr Benjamin Pollard, B.Sc (Mineral Expl & Mining Geology) MAusIMM and a consultant to Triton Minerals
Ltd. Mr Pollard is a member of the Australian Institute of Mining and Metallurgy and has sufficient experience 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 JORC Code. Mr Pollard consents to the inclusion in this
announcement of the information, in the form and context in which it appears.

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 Schedule 1 - JORC- Section 1 Sampling Techniques and Data

Criteria JORC Code Explanation Comments

Sampling • Nature and quality of sampling (e.g., • No drilling included in this announcement.
Techniques cut channels, random chips, or
specific specialised industry standard • Rock chip samples were dried at a temperature <
measurement tools appropriate to the 60°C, crushed to better than 70% passing a 2mm
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minerals under investigation, such as mesh and split to produce a 250g charge
down hole gamma sondes, or pulverised to 200 mesh to form a pulp sample •
handheld XRF instruments, etc). 50g charges were split from each pulp for fire
These examples should not be taken assay for Au with an atomic absorption (AA)
as limiting the broad meaning of finish. Samples returning >10ppm Au from the AA
sampling. finish technique are re-analysed by 50g fire assay
for Au with a gravimetric finish.
• Include reference to measures taken
to ensure sample representativity and • An additional charge is split from sample for four
the appropriate calibration of any acid digests with ICP-MS reporting a 48-element
measurement tools or systems used. suite. Within the 48 elements suite, overlimit
analyses of a 5-element suite are performed with
• Aspects of the determination of an ore grade technique (ICPAES) if any one
mineralisation that are Material to the element for Ag, Pb, Zn, Cu, Mo exceeds detection
Public Report. In cases where limits in the ICP-MS method.
‘industry standard’ work has been
done this would be relatively simple • Soil samples were dried at a temperature < 60°C,
(e.g., ‘reverse circulation drilling was sieve sample to 180 microns (80 mesh), and
used to obtain 1 m samples from pulverized up to 250g of the sample to achieve
which 3 kg was pulverised to produce 85% passing through 75 microns mesh to form a
a 30 g charge for fire assay’). In other pulp sample.
cases, more explanation may be • 50g charges were split from each pulp for super
required, such as where there is trace gold and multielement in soils analysis.
coarse gold that has inherent sampling
problems. Unusual commodities or • Au was analysed by Aqua regia extraction with
mineralisation types (e.g., submarine ICP-MS finish. An additional charge is split from
nodules) may warrant disclosure of sample for four acid digests with ICP-MS
detailed information reporting a 48-element suite.

Drilling • Drill type (e.g., core, reverse • No drilling included in this announcement.
Techniques 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).

Drill sample • Method of recording and assessing • No drilling included in this announcement.
recovery 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

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 Criteria JORC Code Explanation Comments

Logging • Whether core and chip samples have • No drilling included in this announcement.
been geologically and geotechnically
logged to a level of detail to support • Geological observations have been routinely
appropriate Mineral Resource recorded for rock chip samples as part of detailed
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estimation, mining studies and surface geological mapping
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.

Sub-sampling • If core, whether cut or sawn and • Rock chip samples were submitted in their
techniques and whether quarter, half or all cores entirety for analysis, no subsampling was
sample taken. completed.
preparation
• If non-core, whether riffled, tube • Rock chip samples are obtained by breaking
sampled, rotary split, etc and whether outcrop rocks, others were collected in artisanal
sampled wet or dry. mining pits also breaking the chips.

• For all sample types, the nature, • All samples were chips good enough and easily
quality, and appropriateness of the handled and be split to right size to send to the
sample preparation technique. lab.

• Quality control procedures adopted for • All samples were taken to preparations before
all sub-sampling stages to maximise sent to the lab, allowing for the identification rock
representativity of samples. chips profile in the area. The samples collected
were hard rock and fresh, each individual sample
• Measures taken to ensure that the was labelled into the bag, ensuring a minimum
sampling is representative of the in- weight of 600g.
situ material collected, including for
instance results for field
duplicate/second-half sampling.

Sub-sampling • Whether sample sizes are appropriate • The samples were directed to the company's
techniques and to the grain size of the material being offices. Upon entry into the digital sample
sample sampled. inventory, they undergo splitting, and only a 600g
preparation portion is selected for further processing. This
portion is then dried in an oven at 60°C for 8 hours
to remove moisture. Subsequently, the dried
sample undergoes crushing under pressure with
a glass roller. The pulverized sample is then
pelletized and is ultimately prepared for analysis
using the handheld p-XRF.

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 Criteria JORC Code Explanation Comments

Quality of assay • The nature, quality and • Assaying and Laboratory procedures reported
data and appropriateness of the assaying and are completed by certified independent labs and
laboratory tests laboratory procedures used and considered to be appropriate and in accordance
whether the technique is considered with best practices for the type and style of
partial or total. mineralisation being assayed for. Gold Fire Assay
technique used is a total recovery technique for
•
For personal use only
For geophysical tools, spectrometers, gold analysis. This technique is considered an
handheld XRF instruments, etc, the appropriate method to evaluate total gold and
parameters used in determining the silver content of the samples.
analysis including instrument make
and model, reading times, calibrations • No geophysical tools or other instruments were
factors applied and their derivation, used in relation to the reported exploration
etc. results.

• Nature of quality control procedures • The laboratory’s own quality control (“QC”)
adopted (e.g., standards, blanks, procedure(s), Titan Minerals Ltd did not inserts its
duplicates, external laboratory own Quality assurance.
checks) and whether acceptable
levels of accuracy (i.e., lack of bias) • Rock chip samples were analysed by Antech
and precision have been established Laboratories located in KweKwe, Zimbabwe.
Assay involved Fire assay with AA finish and XRF
multi elements scan AMNA methods following
preparation as outlined above. Forty elements
are analysed, with their respective detection limits
outlined below

Verification of • The verification of significant • No drilling reported, only surface soil and rock
sampling and intersections by either independent or chip sample results.
assaying alternative company personnel.
• No adjustment to data is made in the reported
• The use of twinned holes. results

• Documentation of primary data, data

entry procedures, data verification,
data storage (physical and electronic)
protocols.

• Discuss any adjustment to assay data

Location of data • Accuracy and quality of surveys used • No drillholes reported.

points to locate drill holes (collar and down-
hole surveys), trenches, mine • Rock chip samples were located using a GPS.
workings and other locations used in • Grid system used for all undertakings at the
Mineral Resource estimation.
Dynasty Project is WGS 84 Zone 36 South
• Specification of the grid system used.

• Quality and adequacy of topographic

control

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 Criteria JORC Code Explanation Comments

Data spacing and distribution • Data spacing for reporting of • Data spacing for reported for rock
Exploration Results. chip sampling results not
applicable as it was
• Whether the data spacing, and reconnaissance work of the area
distribution is sufficient to establish done.
the degree of geological and grade
•
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continuity appropriate for the Data spacing for reported rock chip
Mineral Resource and Ore samples was on an irregular/ ad
Reserve estimation procedure(s) hoc basis, with samples taken at
and classifications applied. the geologists’ discretion as part of
surface mapping activities.
• Whether sample compositing has
been applied • No Sample compositing has been
applied in reported exploration
results.

Orientation of data in relation to • Whether the orientation of • Rock chip samples may have been
geological structure sampling achieves unbiased taken along the length of
sampling of possible structures mineralised vein structures, so bias
and the extent to which this is may be introduced. However, rock
known, considering the deposit chip sample results are used for
type. exploration targeting purposes and
will not be considered for resource
• If the relationship between the estimation purposes.
drilling orientation and the
orientation of key mineralised • No bias is considered to have been
structures is considered to have introduced by the rock chip
introduced a sampling bias, this sampling orientation, as the rock
should be assessed and reported if samples were taken randomly
material during reconnaissance work.

Sample security • The measures taken to ensure • Samples were collected by Titan
sample security. Minerals geologists and held in a
secure yard prior to shipment for
laboratory analysis. Samples are
enclosed in polyweave sacks for
delivery to the lab and weighed
individually prior to shipment and
upon arrival at the lab. Sample
shipment is completed through a
commercial transport company
with closed stowage area for
transport

Audits or reviews • The results of any audits or • No Audit done to results by a third
reviews of sampling techniques company or a different Lab.
and data

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 Schedule 2 - JORC- Reporting of Exploration Results Sampling Techniques and Data

Criteria JORC Code Explanation Comments

Mineral tenement and land tenure • Type, reference name/number, • Triton Minerals Ltd, through its
status location and ownership including direct wholly owned Mozambican
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agreements or material issues with subsidiary holds a portfolio of
third parties such as joint ventures, exploration properties in the Cabo
partnerships, overriding royalties, Delgado Province of Mozambique
native title interests, historical sites, two Graphite Projects. One in
wilderness or national park and Ancuabe District a tenement of
environmental settings. 10276 Hectares a Mining
Concession approved and EL on
• The security of the tenure held at final stages of approval with
the time of reporting along with any number 9132C approved in 2019.
known impediments to obtaining a Another Mining Concession in the
licence to operate in the area District of Montepuez with an area
of 17212.90 Hectares and MC
number 11584C approved in 2023.

• Mineral concessions in
Mozambique are subject to
government royalty, the amount of
which is 6% for most minerals
when productions starts.

• Mineral concessions require the

holder to (i) pay an annual surface
tax of which can start at 30
Meticais fee per Hectare, (ii) Must
have a Rights to enjoy land
(DUAT), an approved
Resettlement Plan and an
approved Environmental License
for Installation of Mine And
production; and (iii) an annual
reporting of Mine and production
on the previous year’s exploration
and production activity. Mineral
Concessions are renewable by the
Mozambican Ministry of Mineral
Resources and Energy in
accordance with the Mining Law
on such terms and conditions as
defined in the Mining Law.

Exploration done by other parties • Acknowledgment and appraisal of • There are no known exploration
exploration by other parties. records at the Mozambican
Institute of Mine at the prospective
area.

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 Criteria JORC Code Explanation Comments

Geology • Deposit type, geological setting, • The tenement is within the Tete
and style of mineralisation. Gabbro-Anorthosite complex
which lies immediately to the West
of the Moatize Carboniferous
Basin.

•
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The lithology is mostly composed
of gabbro and anorthosite and
contains some ultramafic rocks.
Gneisses were observed at the
Eastern extent of the License and
in the SE Calco silicates and
marbles were mapped.

• There is a quartz feldspathic rock

mapped across most of the MC
surveyed. This unit is ferruginous
with locally Gossan alteration.
Gossans are sulphide alterations
on the surface (can be a very good
indicator for base metals in the
License area). Therefore, these
gossan to gossanous units are
where most of the mining
operations within the license are
mining gold and copper.
Approximately 9 areas of illegal
artisanal mining with pits over 10m
deep (underground development
using explosives for blasting)
mapped.

• Apart from the gossan observed, is

to highlight the predominance of
malachite associated with gabbro
in extensive areas within the
License. Some artisanal mining
groups are mining malachite in
large quantities for sale.

• Malachite is a copper carbonate

hydroxide mineral, with the formula
Cu2CO3(OH)2. is the most
abundant alteration product of
primary Cu minerals such as
chalcocite and chalcopyrite.
Malachite has been an important
copper ore since prehistoric times
and usually occurs in subordinate
amounts in copper ores. Malachite
indicates the presence of Cu

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 Criteria JORC Code Explanation Comments

Drill hole Information • A summary of all information • Only significant rock chip samples
material to the understanding of the considered as significant i.e.
exploration results including a results > 1.0 g/t Au have been
tabulation of the following reported.
information for all Material drill
For personal use only
holes: o easting and northing of the • Rock chip samples have been
drill hole collar o elevation or RL tabulated containing significant
(Reduced Level – elevation above values with gold grades exceeding
sea level in metres) of the drill hole 17.0g/t Au and are included in a
collar o dip and azimuth of the hole table of report results.
o down hole length and interception
depth o hole length.

• If the exclusion of this information is

justified on the basis that the
information is not Material and this
exclusion does not detract from the
understanding of the report, the
Competent Person should clearly
explain why this is the case.

Data aggregation methods • In reporting Exploration Results, • No data aggregation has been
weighting averaging techniques, used for reporting of significant
maximum and/or minimum grade rock chip values.
truncations (e.g., cutting of high
grades) and cut-off grades are • No metal equivalent reporting is
usually Material and should be applicable to this announcement
stated Where aggregate intercepts
incorporate short lengths of high
grade results and longer lengths of
low-grade results, the procedure
used for such aggregation should
be stated and some typical
examples of such aggregations
should be shown in detail.

• The assumptions used for any

reporting of metal equivalent
values should be clearly stated.

Relationship between • These relationships are particularly • Reported rock chip values are
mineralisation widths and intercept important in the reporting of point data, and do not represent
lengths Exploration Results. true widths of mineralisation.

• If the geometry of the • Additional trenching, drilling and

mineralisation with respect to the modelling of results is required to
drill hole angle is known, its nature confirm the true width and
should be reported. orientation of mineralised zones.

• If it is not known and only the down

hole lengths are reported, there
should be a clear statement to this
effect (e.g., ‘down hole length, true
width not known’)

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 Criteria JORC Code Explanation Comments

Diagrams • Appropriate maps and sections • Included in body of report as

(with scales) and tabulations of deemed appropriate by the
intercepts should be included for competent person
any significant discovery being
reported These should include, but
not be limited to a plan view of drill
For personal use only
hole collar locations and
appropriate sectional views
Balanced reporting • Where comprehensive reporting of • All material exploration results for
all Exploration Results is not surface geochemistry are included
practicable, representative in this report, and location of all
reporting of both low and high results are included in Figures
grades and/or widths should be provided in their entirety
practiced avoiding misleading
reporting of Exploration Results
Other substantive exploration data • Other exploration data, if • No other available datasets are
meaningful and material, should be considered relevant to reported
reported including (but not limited exploration results.
to): geological observations;
geophysical survey results; • The surveys conducted are limited
geochemical survey results; bulk in scale relative to the Project and
samples – size and method of are not considered material to
treatment; metallurgical test assess potential of the larger
results; bulk density, groundwater, Project area
geotechnical and rock
characteristics; potential
deleterious or contaminating
substances

Further work • The nature and scale of planned • Additional mapping, trenching and
further work (e.g., tests for lateral drilling is planned to better define
extensions or depth extensions or structural controls on
large-scale step-out drilling). mineralisation and assess open
ended mineralisation on multiple
• Diagrams clearly highlighting the mineralised corridors within the
areas of possible extensions, Project area. Further mapping and
including the main geological sampling are to be conducted
interpretations and future drilling along strike of reported work to
areas, provided this information is refine and prioritise targets for drill
not commercially sensitive testing.

• Included in body of report as

deemed appropriate by the
competent person

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