RE: Yesterdays intercept - 47.25m @ 15.25g/t Au10 Sep 2025 10:36
Coarse Gold - PEP055
The quoted composite assay result from PEP055 of 47.25m @ 15.25g/t Au has been influenced by two consecutive high-grade samples across 1.9m in which visible gold was noted in core. These two consecutive samples returned 465.71g/t Au and 122.74g/t Au respectively. Outside these two samples, grades assayed were largely in line with adjacent holes.
The Company feels that these two samples represent a real, and very high-grade vein, but are also cognisant that coarse gold has the potential to create a sampling bias if incorrect sample preparation has resulted in heterogenous distribution of gold throughout the sample.
To assess the potential impact of this, pulps from these two samples were re-assayed twice, with reasonably consistent results (table 2). The Company is therefore confident that no significant sampling bias has occurred. Geologically however, such high-grade samples are a statistical outlier and will require further understanding so that their impact on a MRE is accurately reflected.