TIDMTHR

RNS Number : 5569S

Thor Energy PLC

07 November 2023

7 November 2023

Thor Energy PLC

("Thor" or the "Company")

Copper Hosting Troughs Defined by ANT Surveys

Alford East Copper-REE Project, South Australia

The directors of Thor Energy PLC ("Thor" or the "Company") (AIM, ASX: THR, OTCQB: THORF) are pleased to announce that the Ambient Noise Tomography ("ANT") Surveys by Fleet Space Technologies ("Fleet") are now complete at the Alford East Copper-REE Project in South Australia.

Highlights:

-- The acquisition phase of the low-impact, ANT surveys are now complete at the Alford East copper-gold-REE Project, using EXOSPHERE BY FLEET(R) technology (Figure 1 and Figure 3)

   --   Preliminary ANT models clearly delineate low-velocity, weathered 'troughs' that host the oxide copper-gold-REE mineralisation within the Alford Copper Belt (Figure 1 and 2) 

-- Fleet is currently reviewing the ANT data, integrating the ANT results with Thor's 3D geological model using Artificial Intelligence ("AI") and Machine Learning ("ML") and generating an improved geological model for drill targeting extensions to the troughs that host higher-grade oxide copper-gold mineralisation (ASX/AIM: 4 September 23)

Figure 1: 3D velocity model showing low-velocity troughs (blue), overlayed by ANT surveys (white dots)

Nicole Galloway Warland, Managing Director of Thor Energy, commented:

"Thor is very pleased with the progress made by Fleet Space Technologies, with the completion of the ANT surveys in a timely and efficient manner, and their preliminary models defining the low-velocity troughs.

"As part of the collaboration, Fleet is modelling the data using Thor's 3D geological model, resulting in a revised geological model to support drill targeting of higher-grade copper and REE mineralisation along strike of our mineral resource estimate and in new zones of the Alford Copper Belt.

"We look forward to keeping the market updated as the modelling and interpretation results continue to come in."

Next Steps:

1. Modelling of ANT results, incorporating Thor's 3D model and using AI to extrapolate controlling structures along the Alford Copper Belt (November - December 2023)

   2.    Target generation from the final 3D Model (November - December 2023) 
   3.    Drill preparations and drilling (Q1 2024) 

Photo 1: Low-impact nature of ANT surveys at Alford East Project

ANT Geophysics Surveys:

Two comprehensive ANT surveys were executed at the Alford East Project, covering the northern portion of the Mineral Resource Estimate Domains (Figure 3). The surveys were designed to delineate the low-velocity, weathered 'troughs' that are known to host the oxide copper-gold and REE mineralisation within the Alford Copper Belt (Figure 3). The oxide copper-gold and REE mineralisation within the Alford Copper Belt is associated with rocks that are significantly less dense with lower seismic velocity than the surrounding fresh units.

The surveys referred to as the East and West field surveys used a total of 96 Fleet's space-enabled geodes for each deployment. These surveys covered substantial areas, encompassing 1.13 square kilometres in the Eastern Field and 1.81 square kilometres in the Western Field.

The Eastern Field survey commenced on September 28 and concluded on October 5. Subsequently, the geodes were seamlessly transitioned to the neighbouring Western Field, where the survey operations began on October 6 and were successfully completed on October 17. In the Eastern Field, the inter-geode spacing was 150 metres in both the easting and northing directions, allowing for subsurface imaging down to a depth of 500 metres, with an impressive resolution of approximately 30 metres. Conversely, in the Western Field, the inter-geode spacing was 115 metres along the easting direction and 130 metres along the northing direction, providing the capability to image the subsurface down to a depth of 400 metres while maintaining a resolution of 36 metres.

The data collected from these two surveys was subject to extensive processing, leading to the development of a high-resolution 3D seismic velocity model of the subsurface. This model has revealed key features, such as regions with slower velocity within a high-velocity basement, inferring a 3D geometry of the interpreted variably weathered trough and a sheared metasedimentary basement, which is expected to host mineralisation (Figure 1 and Figure 2). This newfound understanding of the subsurface will play a pivotal role in guiding and optimising the upcoming drilling activities in the Alford East Copper project.

The survey will compare and integrate the subsurface ANT results with geological information (surface geochemistry, drilling, and historic geophysics) that has been compiled by Thor. The resultant 3D model will provide a refined targeted strategy, focusing future drilling on areas with potential high-grade oxide copper-gold and REE mineralisation.

 
 
 
 

Figure 2: 3D model showing low velocity weathered troughs hosting oxide copper mineralisation

Figure 3: Alford East Location Map showing the lateral extent of the Alford Copper Belt (left), and the Alford East Mineral Resource Domains showing the area for initial ANT Surveys (right)

Alford East Project Background:

The Alford East Copper-REE Project is located on EL6529, where Thor holds an 80% interest from unlisted Australian explorer Spencer Metals Pty Ltd, covering portions of EL6255 and EL6529 (Figure 3) (ASX/AIM: 20 November 2020).

The Alford East Project covers the northern extension of the Alford Copper Belt, located on the Yorke Peninsula, SA. The Alford Copper Belt is a semi-coherent zone of copper-gold oxide mineralisation, within a structurally controlled, north-south corridor consisting of deeply kaolinised and oxidised troughs within metamorphic units on the edge of the Tickera Granite (Figure 3), Gawler Craton, SA.

Thor completed an inferred Mineral Resource Estimate ("MRE") by utilising historic drill hole information. Table C - (ASX/AIM: 27 January 2021):

   --              125.6Mt @ 0.14% Cu containing 177,000t of contained copper 
   --              71, 500oz of contained gold 

https://thorenergyplc.com/investor-updates/maiden-copper-gold-mineral-resource-estimate-alford-east-copper-gold-isr-project/

Table C: Alford East Mineral Resource Estimate as of 22 January 2021 - Figure 2 (ASX/AIM: 27 January 2021)

 
    Domain      Tonnes (Mt)   Cu %   Au g/t   Contained   Contained Au 
                                                Cu (t)        (oz) 
     AE_1          24.6       0.12   0.021     30,000        16,000 
               ------------  -----  -------  ----------  ------------- 
     AE_2           6.8       0.13   0.004      9,000        1,000 
               ------------  -----  -------  ----------  ------------- 
     AE_3          34.9       0.09   0.022     33,000        25,000 
               ------------  -----  -------  ----------  ------------- 
     AE_4           8.0       0.11   0.016      8,000        4,000 
               ------------  -----  -------  ----------  ------------- 
     AE_5          11.0       0.22   0.030     24,000        11,000 
               ------------  -----  -------  ----------  ------------- 
  AE-8 (NP)        31.3       0.19   0.008     61,000        8,000 
               ------------  -----  -------  ----------  ------------- 
 AE-7 (LW_E)        7.7       0.14   0.025     10,000        6,000 
               ------------  -----  -------  ----------  ------------- 
 AE-6 (LW_W)        1.3       0.13   0.011      2,000         500 
               ------------  -----  -------  ----------  ------------- 
    Total          125.6      0.14   0.018     177,000       71,500 
               ------------  -----  -------  ----------  ------------- 
 

Note: MRE reported on oxide material only, at a cut-off grade of 0.05% copper which is consistent with the assumed In-Situ Recovery technique.

REE results were later reported from the 2021 diamond drilling program, with significant drill intercepts (>500ppm TREO ([1]) ) including (THR: ASX/AIM 26 April 2023):

   o 21AED005:                  36.7m @ 1568ppm (0.16%) TREO & 1.2% Cu from 6.3m, 
   including        11.8m @ 2095 ppm (0.21%) TREO and 1.2% Cu from 10m, and 

11m @ 2088ppm (0.21%) TREO and 0.8% Cu from 47m,

   including        2m @ 5042ppm (0.5%) TREO from 47m 
   o 21AED002:                  11.6m @ 1699ppm (0.17%) TREO and 0.26% Cu from 30.4m 
           including         6.1m @ 2262ppm (0.22%) TREO from 34.0m 
   o 21AED001:    16.8m @ 1721ppm (0.17%) TREO and 0.5% Cu from 91.4m 

The Board of Thor Energy PLC has approved this announcement and authorised its release.

For further information, please contact:

 
 Thor Energy PLC 
 Nicole Galloway Warland, Managing Director     Tel: +61 (8) 7324 
                                                 1935 
  Ray Ridge, CFO & Company Secretary 
                                                 Tel: +61 (8) 7324 
                                                 1935 
 WH Ireland Limited (Nominated Adviser and      Tel: +44 (0) 207 
  Joint Broker)                                  220 1666 
 Antonio Bossi / Darshan Patel / Isaac Hooper 
 SI Capital Limited (Joint Broker)              Tel: +44 (0) 1483 
                                                 413 500 
 Nick Emerson 
 Yellow Jersey (Financial PR)                   thor@yellowjerseypr.com 
 Sarah Hollins / Shivantha Thambirajah /        Tel: +44 (0) 20 
  Bessie Elliot                                  3004 9512 
 

Competent Person's Report

The information in this report that relates to exploration results is based on information compiled by Nicole Galloway Warland, who holds a BSc Applied geology (HONS) and who is a Member of The Australian Institute of Geoscientists. Ms Galloway Warland is an employee of Thor Energy PLC. She has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which she is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Nicole Galloway Warland consents to the inclusion in the report of the matters based on her information in the form and context in which it appears.

Updates on the Company's activities are regularly posted on Thor's website which includes a facility to register to receive these updates by email, and on the Company's X page @thorenergyplc

About Thor Energy Plc

The Company is focused on uranium and energy metals that are crucial in the shift to a 'green' energy economy. Thor has a number of highly prospective projects that give shareholders exposure to uranium, nickel, copper, lithium and gold. Our projects are located in Australia and the USA.

Thor holds 100% interest in three uranium and vanadium projects (Wedding Bell, Radium Mountain and Vanadium King) in the Uravan Belt in Colorado and Utah, USA with historical high-grade uranium and vanadium drilling and production results.

At Alford East in South Australia, Thor has earnt an 80% interest in oxide copper deposits considered amenable to extraction via In Situ Recovery techniques (ISR). In January 2021, Thor announced an Inferred Mineral Resource Estimate(1). Thor also holds a 30% interest in Australian copper development company EnviroCopper Limited, which in turn holds rights to earn up to a 75% interest in the mineral rights and claims over the resource on the portion of the historic Kapunda copper mine and the Alford West copper project, both situated in South Australia, and both considered amenable to recovery by way of ISR.(2)(3)

Thor holds 100% of the advanced Molyhil tungsten project, including measured, indicated and inferred resources , in the Northern Territory of Australia, which was awarded Major Project Status by the Northern Territory government in July 2020. Thor executed a A$8m Farm-in and Funding Agreement with Investigator Resources Limited (ASX: IVR) to accelerate exploration at the Molyhil Project on 24 November 2022.(6)

Adjacent to Molyhil, at Bonya, Thor holds a 40% interest in deposits of tungsten, copper, and vanadium, including Inferred resource estimates for the Bonya copper deposit, and the White Violet and Samarkand tungsten deposits. Thor's interest in the Bonya tenement EL29701 is planned to be divested as part of the Farm-in and Funding agreement with Investigator Resources Limited.(6)

Thor owns 100% of the Ragged Range Project, comprising 92 km(2) of exploration licences with highly encouraging early-stage gold and nickel results in the Pilbara region of Western Australia.

Notes

(1) https://thorenergyplc.com/investor-updates/maiden-copper-gold-mineral-resource-estimate-alford-east-copper-gold-isr-project/

(2) www.thorenergyplc.com/sites/thormining/media/pdf/asx-announcements/20172018/20180222-clarification-kapunda-copper-resource-estimate.pdf

(3) www.thorenergyplc.com/sites/thormining/media/aim-report/20190815-initial-copper-resource-estimate---moonta-project---rns---london-stock-exchange.pdf

(4) https://thorenergyplc.com/investor-updates/molyhil-project-mineral-resource-estimate-updated/

(5) www.thorenergyplc.com/sites/thormining/media/pdf/asx-announcements/20200129-mineral-resource-estimates---bonya-tungsten--copper.pdf

(6) https://thorenergyplc.com/wp-content/uploads/2022/11/20221124-8M-Farm-in-Funding-Agreement.pdf

About Fleet Space Technologies

Fleet Space Technologies , a leading Australian space company with a mission to connect Earth, Moon, and Mars, is revolutionising the mineral exploration, defence, and space exploration sectors through its ground-breaking products and connectivity solutions. Headquartered at a state-of-the-art facility in Adelaide, South Australia, Fleet has rapidly grown to over 100 employees and boasts a global presence, including a team in the US and offices in Canada, Luxembourg, and Chile.

Fleet created EXOSPHERE BY FLEET (R) , a solution for the mineral exploration industry providing lightning fast, 3D mapping of underground structures and providing increased accuracy in drilling targets. This cutting-edge technology is helping the world transition to clean-air mobility technologies by creating a faster, more sustainable, and less expensive route to finding critical mineral deposits. EXOSPHERE BY FLEET (R) is an end-to-end service offered to mineral exploration customers to decrease the time it takes to find a deposit. Fleet's sensors, the Geodes, are deployed in a survey area and leverage real-time passive seismic methods to 'scan' the subsurface. This is enabled through non-invasive Ambient Noise Tomography (ANT) which listens to seismic waves present on Earth. The data is rapidly processed and transmitted through Fleet's low power satellite network to create a 3D model of the area in near real time.

Since launching EXOSPHERE, Fleet Space has signed contracts with over 30 clients around the world including players such as Rio Tinto, Barrick Gold and Core Lithium. Fleet has conducted more than 150 ANT surveys on different commodity types and completed deployments in 5 continents. EXOSPHERE BY FLEET (R) is contributing to solve the pressing global priority to decarbonise mobility and find more than $13trillion USD worth of minerals required for the energy transition to help meet global net zero priorities.

Contact:

Wes Carlson, Senior Communications Manager

Fleet Space Technologies

wesley.carlson@fleet.space

+1-415-521-9516

1. 2012 Edition - Table 1 report template

Section 1 Sampling Techniques and Data

 
  Criteria            JORC Code explanation                                             Commentary 
                    ---------------------------------------------------------------- 
 Sampling                                                                               No new drilling or 
  techniques            *    Nature and quality of sampling (eg cut channels,            surface sampling in 
                             random chips, or specific specialised industry              this release. 
                             standard measurement tools appropriate to the               -- THR is reporting 
                             minerals under investigation, such as down hole gamma       the results of an ambient 
                             sondes, or handheld XRF instruments, etc). These            noise tomography survey 
                             examples should not be taken as limiting the broad          conducted by Thor Energy 
                             meaning of sampling.                                        Plc and Fleet Space 
                                                                                         Technologies which 
                                                                                         commenced on the 28 
                        *    Include reference to measures taken to ensure sample        Sep 2023 and finished 
                             representivity and the appropriate calibration of any       on the 17 Oct 2023. 
                             measurement tools or systems used.                          -- The Ambient Noise 
                                                                                         Tomography data was 
                                                                                         acquired using 96 Fleet 
                        *    Aspects of the determination of mineralisation that         Space Technology Geodes. 
                             are Material to the Public Report.                          -- The Geode specifications 
                                                                                         are as follows: 
                                                                                         - 1-component (vertical) 
                        *    In cases where 'industry standard' work has been done       2Hz geophones 
                             this would be relatively simple (eg 'reverse                - Sensitivity: 260 
                             circulation drilling was used to obtain 1 m samples         V/m/s 
                             from which 3 kg was pulverised to produce a 30 g            - Sampling rate: 20Hz 
                             charge for fire assay'). In other cases more                - Recording mode: continuous 
                             explanation may be required, such as where there is         - Preamplifier gain: 
                             coarse gold that has inherent sampling problems.            32 (linear) 
                             Unusual commodities or mineralisation types (eg 
                             submarine nodules) may warrant disclosure of detailed 
                             information. 
==================  ================================================================  ======================================= 
 Drilling                                                                               Not applicable - 
  techniques            *    Drill type (eg core, reverse circulation, open-hole         No drilling reported 
                             hammer, rotary air blast, auger, Bangka, sonic, etc) 
                             and details (eg core diameter, triple or standard 
                             tube, depth of diamond tails, face-sampling bit or 
                             other type, whether core is oriented and if so, by 
                             what method, etc). 
==================  ================================================================  ======================================= 
 Drill sample                                                                           Not applicable- 
  recovery              *    Method of recording and assessing core and chip             No drilling reported 
                             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. 
==================  ================================================================  ======================================= 
 Logging                                                                                Not applicable- 
                        *    Whether core and chip samples have been geologically        No drilling reported 
                             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. 
==================  ================================================================  ======================================= 
 Sub- sampling                                                                          Not applicable- 
  techniques            *    If core, whether cut or sawn and whether quarter,           No drilling reported 
  and sample                 half or all core taken. 
  preparation 
 
                        *    If non-core, whether riffled, tube sampled, rotary 
                             split, etc and whether sampled wet or dry. 
 
 
                       For all sample types, the nature, quality 
                       and appropriateness of the sample preparation 
                       technique. 
                        *    Quality control procedures adopted for all 
                             sub-sampling stages to maximise representivity of 
                             samples. 
 
 
                        *    Measures taken to ensure that the sampling is 
                             representative of the in situ material collected, 
                             including for instance results for field 
                             duplicate/second-half sampling. 
 
 
                        *    Whether sample sizes are appropriate to the grain 
                             size of the material being sampled. 
==================  ================================================================  ======================================= 
 Quality                                                                                No drilling reported. 
  of assay              *    The nature, quality and appropriateness of the              Fleet Space Technologies 
  data and                   assaying and laboratory procedures used and whether         conducted the ANT survey. 
  laboratory                 the technique is considered partial or total.               -- The ANT data was 
  tests                                                                                  acquired using 96 Fleet 
                                                                                         Space Technology Geodes 
                        *    For geophysical tools, spectrometers, handheld XRF          -- The Geode specifications 
                             instruments, etc, the parameters used in determining        are as follows: 
                             the analysis including instrument make and model,           - 1-component (vertical) 
                             reading times, calibrations factors applied and their       2Hz geophones 
                             derivation, etc.                                            - Sensitivity: 260 
                                                                                         V/m/s 
                                                                                         - Sampling rate: 20Hz 
                        *    Nature of quality control procedures adopted (eg            - Recording mode: continuous 
                             standards, blanks, duplicates, external laboratory          - Preamplifier gain: 
                             checks) and whether acceptable levels of accuracy (ie       32 (linear) 
                             lack of bias) and precision have been established. 
==================  ================================================================  ======================================= 
 Verification                                                                           ANT - Data and model 
  of sampling           *    The verification of significant intersections by            received is preliminary 
  and assaying               either independent or alternative company personnel.        in nature and is being 
                                                                                         reviewed by Fleet Space 
                                                                                         Technologies. 
                        *    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. 
==================  ================================================================  ======================================= 
 Location                                                                               No drilling reported 
  of data points        *    Accuracy and quality of surveys used to locate drill        *    ANT - Data using a handheld GPS 
                             holes (collar and down-hole surveys), trenches, mine 
                             workings and other locations used in Mineral Resource 
                             estimation.                                                 *    GDA94 Zone 53. 
 
 
                        *    Specification of the grid system used. 
 
 
                        *    Quality and adequacy of topographic control. 
==================  ================================================================  ======================================= 
 Data spacing                                                                           ANT line spacing which 
  and distribution      *    Data spacing for reporting of Exploration Results.          is approximately 150 
                                                                                         m and 130 m in the 
                                                                                         two surveys is appropriate 
                        *    Whether the data spacing and distribution is                for exploration purposes 
                             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. 
==================  ================================================================  ======================================= 
 Orientation                                                                            ANT grid covers the 
  of data in            *    Whether the orientation of sampling achieves unbiased       roughly East-West trending 
  relation                   sampling of possible structures and the extent to           weathered zone. 
  to geological              which this is known, considering the deposit type. 
  structure 
 
                        *    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. 
==================  ================================================================  ======================================= 
 Sample security                                                                        No sampling reported 
                        *    The measures taken to ensure sample security. 
==================  ================================================================  ======================================= 
 Audits                                                                                 None undertaken 
  or reviews         *    The results of any audits or reviews of sampling 
                          techniques and data. 
=============  =====================================================================  ======================================= 
 Mineral tenement                                                                       Exploration results 
  and land tenure          *    Type, reference name/number, location and ownership      are reported on EL 
  status                        including agreements or material issues with third       6529 in South Australia 
                                parties such as joint ventures, partnerships,            held 100% by spencer 
                                overriding royalties, native title interests,            Metals Pty ltd. 
                                historical sites, wilderness or national park and        Thor holds 80 % interest 
                                environmental settings.                                  in the Alford East 
                                                                                         Project 
                                                                                         The tenement is secure 
                           *    The security of the tenure held at the time of           under SA legislation 
                                reporting along with any known impediments to            and is in good standing. 
                                obtaining a licence to operate in the area. 
====================  ==============================================================  ======================================= 
 Exploration 
  done by other            *    Acknowledgment and appraisal of exploration by other 
  parties                       parties. 
====================  ==============================================================  ======================================= 
 Geology                                                                               Primary deposits in 
                           *    Deposit type, geological setting and style of           the region are considered 
                                mineralisation.                                         to be of Iron Oxide 
                                                                                        Copper Gold (IOCG) 
                                                                                        affinity, related to 
                                                                                        the 1590Ma Hiltaba/GRV 
                                                                                        event. Cu-Au-Mo-Pb 
                                                                                        mineralisation is structurally 
                                                                                        controlled and associated 
                                                                                        with significant metasomatic 
                                                                                        alteration and deep 
                                                                                        weathering or kaolinisation 
                                                                                        of host rocks. 
====================  ==============================================================  ======================================= 
 Drill hole                                                                             No drilling has been 
  Information              *    A summary of all information material to the             undertaken or reported 
                                understanding of the exploration results including a 
                                tabulation of the following information for all 
                                Material drill holes: 
 
 
                          o easting and northing of the drill 
                          hole collar 
                          o elevation or RL (Reduced Level - 
                          elevation above sea level in metres) 
                          of the drill hole collar 
                          o dip and azimuth of the hole 
                          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 aggregate                                                                         Only field observations 
  n methods               *    In reporting Exploration Results, weighting averaging     have been reported. 
                               techniques, maximum and/or minimum grade truncations      There has been no data 
                               (eg cutting of high grades) and cut-off grades are        aggregation. 
                               usually Material and should be 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                                                                           No drilling has been 
 between                  *    These relationships are particularly important in the     undertaken or reported 
 mineralisaton                 reporting of Exploration Results. 
 widths and 
 intercept 
 lengths                  *    If the geometry of the mineralisation with respect to 
                               the drill hole angle is known, its nature should be 
                               reported. 
 
 
                          *    If it is not known and only the down hole lengths are 
                               reported, there should be a clear statement to this 
                               effect (eg 'down hole length, true width not known'). 
====================  ==============================================================  ======================================= 
 Diagrams                                                                               See body of report 
                           *    Appropriate maps and sections (with scales) and 
                                tabulations of intercepts should be included for any 
                                significant discovery being reported These should 
                                include, but not be limited to a plan view of drill 
                                hole collar locations and appropriate sectional 
                                views. 
====================  ==============================================================  ======================================= 
 Balanced                                                                               ANT data is reported 
  reporting            *    Where comprehensive reporting of all Exploration             for Alford East. 
                            Results is not practicable, representative reporting 
                            of both low and high grades and/or widths should be 
                            practiced to avoid misleading reporting of 
                            Exploration Results. 
================  ==================================================================  ======================================= 
 Other                                                                                  All data have been 
 substantive          *    Other exploration data, if meaningful and material,           reported 
 exploration               should be reported including (but not limited to): 
 data                      geological observations; geophysical survey results; 
                           geochemical survey results; bulk samples - size and 
                           method of treatment; metallurgical test results; bulk 
                           density, groundwater, geotechnical and rock 
                           characteristics; potential deleterious or 
                           contaminating substances. 
================  ==================================================================  ======================================= 
 Further                                                                                It is anticipated that 
  work                 *    The nature and scale of planned further work (eg             the weathered zone 
                            tests for lateral extensions or depth extensions or          identified from the 
                            large-scale step- out drilling).                             ANT survey will be 
                                                                                         drill tested to evaluate 
                                                                                         hydrogeological parameters. 
                       *    Diagrams clearly highlighting the areas of possible 
                            extensions, including the main geological 
                            interpretations and future drilling areas, provided 
                            this information is not commercially sensitive. 
================  ==================================================================  ======================================= 
 
 

[1] TREO = (Total Rare Earth Oxides) = (La(2) O(3) + CeO(2) + Pr(6) O(11) + Nd(2) O(3) +Sm(2) O(3) + Eu(2) O(3) + Gd(2) O(3) + Tb(4) O(7) + Dy(2) O(3) + Ho(2) O(3) + Er(2) O(3) + Tm(2) O(3) + Yb(2) O(3) + Lu(2) O(3) + Y(2) O(3) )

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