Castillo Coppe. Regulatory News (CCZ)

Tenure Name

Ore Type

Inferred (Mt)

Indicated (Mt)

Measured (Mt)

Copper Grade (%)

Silver Grade (g/t)

Contained Copper (t)

Contained Silver (kg)

Mine Dumps

Oxidised

0

0.007

-

1.2

4.0

86

29.6

Mine Insitu

Oxidised

1.7

0

-

1.0

1.1

17,000

1,870

Mine Insitu

Fresh

0.4

0

0

1.2

1.4

4,800

560

Sub-Totals

2.1

0.007

0

21,886

2,459

Castillo Copper Limited

+61 8 6558 0886

Dr Dennis Jensen (Australia), Chief Executive Officer 

Gerrard Hall (UK), Director

SI Capital Limited (Financial Adviser and Corporate Broker)

+44 (0)1483 413500

Nick Emerson

Luther Pendragon (Financial PR)

+44 (0)20 7618 9100 

Harry Chathli, Alexis Gore 

Tenure Name

Ore Type

Exploration Target Range Low (Mt)

Exploration Target Range High (Mt)

Exploration Target Range Mid (Mt)

Inferred (Mt)

Indicated (Mt)

Measured (Mt)

Copper Grade %

Silver Grade

g/t

Contained Copper (t)

Contained

Silver (kg)

Mine Dumps

Oxidised

0

0

0

0

0.007

-

1.2

4.0

86

29.6

Mine Insitu

Oxidised

0.02

0.10

0.06

1.7

0

-

1.0

1.1

17,000

1,870

Mine Insitu

Fresh

0.2

1.2

0.7

0.4

0

0

1.2

1.4

4,800

560

Sub-Totals

0.22

1.3

0.8

2.1

0.007

0

21,886

2,459.6

Drillhole

From (m)

To (m)

Apparent Length (m)

Cu (%)

Notes

BO_315RC

61.0

69.0

8.0

0.50%

Visual mineralisation 62-69m

including

65.0

68.0

3.0

1.22%

BO_316RC

137.0

146.0

9.0

0.64%

Visual mineralisation 129-146m

including

141.0

146.0

5.0

1.06%

BO_317RC

88.0

97.0

9.0

1.42%

Visual mineralisation 90.5-103m

including

92.0

96.0

4.0

3.06%

including

92.0

93.0

1.0

9.19%

Also 3.4 g/t Ag

BO_318RC

166

182

16.0

0.59%

including

176

179

3.0

1.76%

BO_323RC

64

65

1.0

0.06%

BO_323RC

94

96

2.0

0.11%

BO_326RC

100

104

4.0

0.56%

including

100

101

1.0

1.58%

BO_327RC

93

98

5.0

0.77%

including

95

97

2.0

1.57%

BO_327RC

103

104

1.0

0.43%

BO_327RC

122

123

1.0

0.11%

BO_333RC

42

45

3.0

0.15%

including

43

44

1.0

0.31%

BO_334DD

86.43

87.43

1.0

0.52%

including

86.93

87.43

0.50

1.02%

Tenure Name

Ore Type

Exploration Target Range Low (Mt)

Exploration Target Range High (Mt)

Exploration Target Range Mid (Mt)

Inferred (Mt)

Indicated (Mt)

Measured (Mt)

Copper Grade %

Silver Grade

g/t

Contained Copper (t)

Contained

Silver (kg)

Mine Dumps

Oxidised

0

0

0

0

0.007

-

1.2

4.0

86

29.6

Mine Insitu

Oxidised

0.02

0.10

0.06

1.7

0

-

1.0

1.1

17,000

1,870

Mine Insitu

Fresh

0.2

1.2

0.7

0.4

0

0

1.2

1.4

4,800

560

Sub-Totals

0.22

1.3

0.8

2.1

0.007

0

21,886

2,459.6

Sampling techniques

· 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 (e.g., '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 (e.g., submarine nodules) may warrant disclosure of detailed information.

· For the 2021 program, samples are taken off a cyclone for every metre drilled, put through a three tier, 87.5/12.5 splitter where approximately 2.5 kg of RC chip samples were collected for every metre drilled. The remainder was bagged separately and stored in case additional sub sampling is required before the end of the program.

· Weights recovered from riffle splitting varied between 1-2kg for both the 1970 and 1993 drilling programs.

· For the 2021 program, samples were also composited every four metres where visual inspection did not initially indicate copper mineralisation. All samples were collected to maximise optimal representation for each sample.

· Each metre sample had an amount removed for washing and cleaning and sieving then place into metre allocated chip trays. These chips were logged on site by the rig geologists and those logs have been saved into a spreadsheet and stored on the Company server. Any visible mineralisation, alteration or other salient features were recorded in the logs. Industry-wide, acceptable, standard practices were adhered to for the drilling and sampling of each metre as per the drilling and sampling Procedures set out before commencement of the drilling programme.

Drilling techniques

· Drill type (e.g., core, reverse 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).

· Reverse Circulation, RC, and HQ-sized diamond wireline drilling techniques were utilised for all holes drilled at the Big One Deposit.

Drill sample recovery

· 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.

· For the 2021 program, within acceptable industry standard limits, all samples collected were of near equal mass and recoveries were also within acceptable limits for RC drilling and all recorded in the daily logs. Every effort was made on site to maximise recovery including cleaning out the sample trays, splitter and cyclone and ensuring that the drillers progressed at a steady constant rate for the rig to easily complete each metre effectively.

Logging

· 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.

· For all drilling programs, every metre drilled and sampled was logged geologically in accordance with industry-wide acceptable standard for RC logging and the logging was qualitative in nature with every metre logged. Unfortunately, lithology dictionaries and descriptions varied between programs. The 2021 programs also recorded visible sulphide and carbonate concentrations and alteration minerals, such as orthoclase, epidote, chlorite, and sericite.

Sub-sampling techniques and sample preparation

· 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 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.

· For the 2021 program, samples with pXRF copper

· Each metre sample had an amount removed for washing and cleaning and sieving then place into metre allocated chip trays. These chips were logged on site by the rig geologists and those logs have been saved into a spreadsheet and stored on the Company server. Any visible mineralisation, alteration or other salient features were recorded in the logs. Industry wide, acceptable, standard practices were adhered to for the drilling and sampling of each metre as per the Drilling and Sampling Procedures set out before commencement of the drilling programme.

· Any reporting of significant mineralised intervals was on a received apparent thickness x interval calculation (i.e., thickness averaged).

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 (i.e. lack of bias) and precision have been established.

· CCZ's DDH and RC holes will be assayed by an independent laboratory, ALS at Mt Isa, Townsville, or Brisbane Australia. Methods used were as follows:

o Gold - by method Au-AA25 30g charge (fire Assay with AAS finish);

o High gold values within oxide zone/supergene zone may need further testing by method Au-SCR21.

o Copper and 32 other - by method ME-ICP41 (HF-HN03-HCL04 acid digest, HCL leach and ICP-AES finish).

o Over-limit copper (>10,000 ppm [0.01%]) to be re assayed for copper by method Cu-OC62 (HF-HN03-HCL04 acid digest, HCL leach and ICP-AES finish).

· These analytical methods are considered as suitable and appropriate for this type of mineralisation.

· For the current drilling program ALS Brisbane will analyse all samples. All elements except for gold were analysed by method ME-MS61 (41 element testing via Aqua Regia digest then ICP-AES) and with any copper assays >1%, the copper will be redone using method Cu-OG46 with ICP-AES. The gold was done by method AA25. All methods used were both suitable and appropriate for the styles of mineralisation present in the Big One Deposit at the time of sampling.

Verification of sampling and assaying

· 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.

· All CCZ's DDH and RC hole assay results from ALS have been reviewed by two independent consultant geologists. Assays from the BO_334DD have recently been resolved.

· For current the rock chip sampling, Independent Laboratory assaying by ALS has confirmed, within acceptable limits, the occurrences of high-grade copper inferred from the initial XRF readings. Laboratory standards and duplicates were used in accordance with standard procedures for geochemical assaying.

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.

· Quality and adequacy of topographic control.

· All twenty holes done by CCZ in 2021 have had their location surveyed by GPS and will, at then, at the completion of drilling, were surveyed by differential GPS by independent licensed surveyors (GMC Surveys).

· The spatial location for these holes has been differentially surveyed into MGA94 - Zone 54. Collar heights are to the Australian Height Datum.

· The locations of the 1970 drillholes and 1993 drillholes have been determined from georeferencing several plans and utilizing tables in historical reports. Location errors for the 1970 drilling is ±20m whereas it is about ±12m that for the 1993 holes.

Data spacing and distribution

· 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.

· The final 20 RC holes were part of a 35-hole program that was set out on a nominal 100m pattern or to redrill 2020 holes that were found to be too short. The 1970 drilling was set at a 30m spacing and the 1993 drilling also at a 50m spacing. At the completion of all the planned holes, the drillhole collars were differentially surveyed by an independent, licensed surveyor and the grid pattern verified. A drone survey over a 2.3Ha area was flown over the exploration area and covered the outcrop length of the dyke. Data was supplied as spot height clouds, orthophoto and topographic contours in DXF / DWG format.

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.

· The current CCZ RC drilling programme has had all holes oriented to intersect the mineralised structure/zone subsurface perpendicularly and therefore does not constitute any perceived bias. The typical dip direction of the new drillholes is 335-350 deg (Grid North).

· Rock chip samples have also been taken at areas of interest from observed mineralisation along the line of lode of the mineralised dyke, secondary structures, and surrounding spoil heaps.

Sample security

· The measures taken to ensure sample security.

· Each day's RC samples were removed from site and stored in a secure location off site.

· The RC chip samples taken were securely locked within the vehicle on site until delivered to Mt Isa for dispatch to the laboratory in person by the field personnel.

Audits or reviews

· The results of any audits or reviews of sampling techniques and data.

· This will be done once all 28 holes in CCZ's Stage 2021 program, and their assay results have been verified.

· For the historical drilling, the sampling techniques and the data generated from the Laboratory Assay results have been peer reviewed by consultant geologists familiar with the overall Mt Oxide Project and deemed to be acceptable. To facilitate this, six (6) sites have twinned drillholes, with the current drilling spudded immediately adjacent to the historical 1970, 1993 and 2020 drilling programs.

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 to obtaining a licence to operate in the area.

· The following mineral tenures are held 100% by subsidiaries of Castillo Copper Limited, totalling an area of 736.8 km2 in the "Mt Oxide North Project":

o EPM 26574 (Valparaisa North) - encompasses the Big One historical mineral resource, Holder Total Minerals Pty Ltd, granted 12-June-2018 for a 5-year period over 100 sub-blocks (323.3Km2), Expires 11-June-2023.

o EPM 26462 (Big Oxide North) - encompasses the 'Boomerang' historical mine and the 'Big One' historical mine, Holder: QLD Commodities Pty Ltd, granted: 29-Aug-2017 for a 5-year period over 67 sub-blocks (216.5 Km2), Expires: 28-Aug-2022.

o EPM 26525 (Hill of Grace) - encompasses the Ayra (previously Myally Gap) significant airborne EM anomaly, Holder: Total Minerals Pty Ltd for a 5-year period over 38 sub-blocks (128.8Km2), Granted: 12-June-2018, Expires: 11-June-2023.

o EPM 26513 (Torpedo Creek/Alpha Project) - Granted 13-Aug-2018 for a 5-year period over 23 sub-blocks (74.2 Km2), Expires 12-Aug-2023; and

o EPM 27440 (The Wall) - An application lodged on the 12-Dec-2019 over 70 sub-blocks (~215 Km2) by Castillo Copper Limited. The tenure was granted on the 18th of March 2021.

· A check on the tenures in 'granted' status was completed in 'GeoResGlobe' on the 12th of Feb 2022.

Exploration done by other parties

· Acknowledgment and appraisal of exploration by other parties.

· Historical QDEX / mineral exploration reports have been reviewed for historical tenures that cover or partially cover the Project Area in this announcement. Federal and State Government reports supplement the historical mineral exploration reporting (QDEX open file exploration records).

· Most explorers were searching for Cu-Au-U, and, proving satellite deposit style extensions to the several small sub-economic copper deposits (e.g., Big Oxide and Josephine).

· With the Mt Oxide North Project in regional proximity to Mt Isa and numerous historical and active mines, the Project area has seen portions of the historical mineral tenure subject to various styles of surface sampling, with selected locations typically targeted by shallow drilling (Total hole depth is characteristically less than 50m).

· The Mt Oxide North project tenure package has a significant opportunity to be reviewed and explored by modern exploration methods in a coherent package of EPM's, with three of these forming a contiguous tenure package.

· Various Holders and related parties of the 'Big One' historical mining tenure (ML8451) completed a range of mining activities and exploration activities on what is now the 'Big One' prospect for EPM 26574. The following unpublished work is acknowledged (and previously shown in the reference list):

o Katz, E., 1970, Report on the Big One, Mt Devine, and Mt Martin Mining Lease Prospects, Forsayth Mineral Exploration NL, report to the Department of Mines, CR5353, 63pp

o West Australian Metals NL, 1994. Drill Programme at the "Big One" Copper Deposit, North Queensland for West Australian Metals NL.

o Wilson, D., 2011. 'Big One' Copper Mine Lease 5481 Memorandum - dated 7 May 2011.

o Wilson, D., 2015. 'Big One' Mining Lease Memorandum - dated 25 May 2015: and

o Csar, M, 1996. Big One & Mt Storm Copper Deposits. Unpublished field report.

· The reader of the current ASX Release is referred to the CCZ's first publication of the 1993 historical reverse circulation drilling results for additional diagrams and drilling information ("Historic drill data verifies grades up to 28.40% Cu from

· The SRK Independent Geologists Report released by CCZ on the ASX on 28-July-2020 contains further details on the 'Exploration done by other parties - Acknowledgment and appraisal of exploration by other parties' this report is formally titled "A Competent Persons Report on the Mineral Assets of Castillo Copper Limited" Prepared as part of the Castillo Copper Limited (ASX: CCZ, LSE: CCZ) LSE Prospectus, with the effective date of the 17-July-2020.

Geology

· Deposit type, geological setting, and style of mineralisation.

· The Mt Oxide North project is located within the Mt Isa Inlier of western Queensland, a large, exposed section of Proterozoic (2.5 billion- to 540-million-year-old) crustal rocks. The inlier records a long history of tectonic evolution, now thought to be like that of the Broken Hill Block in western New South Wales.

· The Mt Oxide North project lies within the Mt Oxide Domain, straddling the Lawn Hill Platform and Leichhardt River Fault Trough. The geology of the tenement is principally comprised of rocks of the Surprise Creek and Quilalar Formations which include feldspathic quartzites, conglomerates, arkosic grits, shales, siltstones and minor dolomites and limestones.

· The Project area is cut by a major fault zone, trending north- northeast - south- southwest across the permits. This fault is associated with major folding, forming several tight synclines- anticline structures along its length.

· The Desktop studies commissioned by CCZ on the granted mineral tenures described four main styles of mineralisation account for most mineral resources within the rocks of the Mt Isa Province (after Withnall & Cranfield, 2013).

o Sediment hosted silver-lead-zinc - occurs mainly within fine-grained sedimentary rocks of the Isa Super basin within the Western Fold Belt. Deposits include Black Star (Mount Isa Pb-Zn), Century, George Fisher North, George Fisher South (Hilton) and Lady Loretta deposits.

o Brecciated sediment hosted copper - occurs dominantly within the Leichhardt, Calvert, and Isa Super basin of the Western Fold Belt, hosted in brecciated dolomitic, carbonaceous, and pyritic sediments or brecciated rocks proximal to major fault/shear zones. Includes the Mount Isa copper orebodies and the Esperanza/Mammoth mineralisation.

o Iron-oxide-copper-gold ("IOCG") - predominantly chalcopyrite-pyrite magnetite/hematite mineralisation within high grade metamorphic rocks of the Eastern Fold Belt. Deposits of this style include Ernest Henry, Osborne, and Selwyn; and

o Broken Hill type silver-lead-zinc - occur within the high-grade metamorphic rocks of the Eastern Fold Belt. Cannington is the major example, but several smaller currently sub-economic deposits are known.

· Gold is primarily found associated with copper within the IOCG deposits of the Eastern Fold Belt. However, a significant exception is noted at Tick Hill where high grade gold mineralisation was produced, between 1991 and 1995 by Carpentaria Gold Pty Ltd, some 700 000 tonnes of ore was mined at an average grade of 22.5 g/t Au, producing 15 900 kg Au. The Tick Hill deposit style is poorly understood (Withnall & Cranfield, 2013).

· ROM Resources had noted in a series of recent reports for CCZ on the granted tenures, that cover the known mineralisation styles including:

o Stratabound copper mineralisation within ferruginous sandstones and siltstones of the Surprise Creek Formation.

o Disseminated copper associated with trachyte dykes.

o Copper-rich iron stones (possible IOCG) in E-W fault zones; and

o possible Mississippi Valley Type ("MVT") stockwork sulphide mineralisation carrying anomalous copper-lead-zinc and silver.

· The Mt Oxide and Mt Gordon occurrences are thought to be breccia and replacement zones with interconnecting faults. The Mt Gordon/Mammoth deposit is hosted by brittle quartzites, and Esperanza by carbonaceous shales. Mineralisation has been related to the Isan Orogeny (1,590 - 1,500 Ma).

· Mineralisation at all deposits is primarily chalcopyrite-pyrite-chalcocite, typically as massive sulphide within breccias.

· At the Big One prospect, West Australian Metals NL described the mineralisation as (as sourced from the document "West Australian Metals NL, 1994. Drill Programme at the "Big One" Copper Deposit, North Queensland for West Australian Metals NL."):

o The targeted lode / mineralised dyke is observable on the surface. The mineralisation targeted in the 1993 drilling programmed is a supergene copper mineralisation that includes malachite, azurite, cuprite, and tenorite, all associated with a NE trending fault (062o to 242o) that is intruded by a porphyry dyke.

o The mineralised porphyry dyke is vertical to near vertical (85o), with the 'true width' dimensions reaching up to 7m at surface.

o At least 600m in strike length, with strong Malachite staining observed along the entire strike length, with historical open pits having targeted approximately 200m of this strike. Exact depth of mining below the original ground surface is not clear in the historical documents, given the pits are not battered it is anticipated that excavations have reached 5m to 10m beneath the original ground surface.

o Associated with the porphyry dyke are zones of fractured and/or sheared rock, the siltstones are described as brecciated, and sandstones around the shear as carbonaceous.

o The known mineralisation from the exploration activities to date had identified shallow supergene mineralisation, with a few drillholes targeting deeper mineralisation in and around the 200m of strike historical open cut pits.

o A strongly altered hanging wall that contained malachite and cuprite nodules. Chalcocite mineralization has been identified but it is unclear on the prevalence of the Chalcocite; and

o The mineralisation was amenable to high grade open pit mining methods of the oxide mineralization (as indicated by numerous historical open pit shallow workings into the shear zone).

· Desktop studies commissioned by CCZ and completed by ROM Resources and SRK Exploration have determined that the Big One prospect is prospective for Cu, Co, and Ag.

· Desktop studies commissioned by CCZ have determined the Boomerang prospect contains:

o Secondary copper staining over ~800m of strike length.

o Associated with a major east-west trending fault that juxtaposes the upper Surprise Creek Formation sediments against both the underlying Bigie Formation and the upper Quilalar Formation units.

· At the 'Flapjack' prospect there is the additional potential for:

o Skarn mineralisation for Cu-Au and/or Zn-Pb-Cu from replacement carbonate mineralisation, particularly the Quilalar Formation.

o Thermal Gold Auroele mineralisation is a potential model due to the high silica alteration in thermal aureole with contact of A-Type Weberra Granite - related to the Au mineralisation; and/or

o IOCG mineralisation related to chloride rich fluids.

· At the 'Crescent' prospect there is the additional potential for:

o Skarn mineralisation for Cu-Au and/or Zn-Pb-Cu from replacement carbonate mineralisation, particularly the Quilalar Formation; and/or

o Thermal Gold Auroele mineralisation is a potential model due to the high silica alteration in thermal aureole with contact of A-Type Weberra Granite - related to the Au mineralisation; and

o IOCG mineralisation related to potassic rich fluids.

· At the 'Arya' prospect there is the additional potential for:

o Supergene mineralisation forming at the surface along the fault, fault breccia, and the Surprise Creek Formation 'PLrd' rock unit ('Prd' historical).

o Epigenetic replacement mineralisation for Cu (with minor components of other base metals and gold) from replacement carbonate mineralisation, particularly the Surprise Creek Formation.

o Skarn mineralisation for Cu-Au and/or Zn-Pb-Cu from replacement carbonate mineralisation, particularly the Surprised Creek Formation.

o Sulphide mineralisation within breccia zones, along stress dilation fractures, emplaced within pore spaces, voids, or in other rock fractures; and/or

o IOCG mineralisation related to chloride rich fluids.

· A selection of publicly available QDEX documents / historical exploration reports have been reviewed, refer to Section 2, sub-section "Further Work" for both actions in progress and proposed future actions.

· The SRK Independent Geologists Report released by CCZ on the ASX on 28-July-2020 contains further details on the 'Geology - Deposit type, geological setting and style of mineralisation': this report is formally titled "A Competent Persons Report on the Mineral Assets of Castillo Copper Limited" Prepared as part of the Castillo Copper Limited (ASX: CCZ, LSE: CCZ) LSE Prospectus, with the effective date of the 17-July-2020.

Drill hole Information

· A summary of all information material to the 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.

· For the current program, all drillhole information was coded to the same formatted spreadsheets used by CCZ, being hand-encoded from hard-copy reports, plans, and cross-sections.

· For CCZ's current drilling program, this information has been recorded in formatted spreadsheets during the drilling and will be checked and verified at the conclusion of the current program. The current reported holes (315-317RC) are listed in Appendix 2, with previous drilling collars listed in the 11TH and 26th July ASX release and in Tables B2-2 and B2-3.

· A summary of the holes drilled are given at the end of Appendix C.

Data aggregation methods

· In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g., cutting of high grades) and cut-off grades are 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.

· Queries on some assays are currently pending on CCZ's current drilling program.

· For historical surface sampling, Independent Laboratory Assay results for soil and rock chip samples from the Big One Deposit were averaged if more than one reading or determination was given.

· Copper grades were reported in this ASX release as per the received laboratory report, i.e., there was no cutting of high-grade copper results as they are directly relatable to high grade mineralisation styles readily visible in the relevant samples and modelling has yet not commenced.

· There were no cut-off grades factored into any assay results reported, however once modelling commences a high cut-off grade of 10,000ppm or 10% copper will be used.

Relationship between mineralisation widths and intercept lengths

· These relationships are particularly important in the reporting of Exploration Results.

· 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').

· When available, all mineralised intervals (i.e., >500ppm) have been reported in this and previous ASX releases as the "as-intersected" apparent thickness (in metres) and given that most drillholes dip at -60 to -70 degrees from the horizontal, true intersection widths will be calculated during the block modelling process.

Diagrams

· 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.

· This part will be done once CCZ's current drilling program is completed, and all samples have been assayed and verified.

· Appropriate diagrams are presented in the body and the Appendices of the current ASX Release. Where scales are absent from the diagram, grids have been included and clearly labelled to act as a scale for distance.

· Maps and Plans presented in the current ASX Release are in MGA94 Zone 54, Eastings (mE), and Northing (mN), unless clearly labelled otherwise.

· A series of cross-sections have been generated at Big One displaying copper analyses in ppm to aid interpretation and exploration planning (in previous ASX releases in July and August 2021)

Balanced reporting

· Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced avoiding misleading reporting of Exploration Results.

· Comprehensive reporting is planned once CCZ's current drilling program has all sample queries returned and have been verified.

o Appropriate diagrams are presented in the body and the Appendices of the current ASX Release. Where scales are absent from the diagram, grids have been included and clearly labelled to act as a scale for distance.

· A complete comparison of visual mineralisation estimated by the site geologist is given in Tables C2-6 through to C2-8 at the end of the next section. All intersected intervals are apparent thicknesses in metres.

Other substantive exploration data

· Other exploration data, if meaningful and material, should be reported including (but not limited to): 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.

· Several airborne EM and magnetic surveys have been conducted nearby by historical explorers and Castillo Copper has conducted its own surface sampling program prior to drilling commencing as noted above. A major IP survey was completed during May 2021 across five (5) north-east trending survey lines (dipole-dipole array). Historical work has focussed on drilling and geochemical sampling, with no detailed geophysical data collection. The copper intersected to date appears to be associated with a NE-SW trending dyke. It occurs in two zones - oxidised (malachite, azurite, tenorite, cuprite) and chalcocite. The aim of the IP survey was to ascertain if the copper mineralisation intersected to date has a discernible electrical response (chargeable and / or conductive). If so, it is hoped that other zones of similar electrical response can be highlighted to better focus the upcoming drill program.

As a result of the evaluation of data from the IP surveys carried out, the following recommendations are made:

· The 2D section models are likely to give the most accurate representation of the earth's conductivity and chargeability variations and should be used when drill targeting. The 3D model output allows trends and structures to be mapped and may give some indications of off-line anomalies.

· Treat anomalies on the edge of lines (and at depth) with caution. Although care was taken to remove spurious data, some edge effects may persist in the data. Before testing any anomalies, GeoDiscovery can check the raw data to verify if a particular anomaly likely to be real.

· 50m DP-DP is shown to be a cost-effective method to cover ground relatively quickly and map the electrical properties of the top 150m or so. If drill testing the regions of elevated chargeability proves successful, a larger 100m DP-DP or P-DP campaign may be considered to cover more ground and to greater depth.

· Incorporate the 3D and 2D IP models into the available geological database to determine the extent to which the chargeable zones may or may not have been tested, as well as their geological / stratigraphic significance.

· It is recommended that where IP anomalies occur near surface, a field visit is undertaken to see if anomaly can be explained by surficial clays / lithology.

Further work

· The nature and scale of planned further work (e.g., tests for lateral extensions or depth extensions or large-scale step-out drilling).

· Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.

· Future potential work is described within the body of the ASX Release, and will include:

o Detailed mapping and rock chip sampling.

o Surface gravity and magnetic surveys, and potentially downhole EM surveys.

o Diamond Coring.

o Block modelling and wireframing.

o Update of Resource Estimation.

Criteria / JORC Code Explanation

Commentary

Database integrity

· Measures taken to ensure that data has not been corrupted by, for example, transcription or keying errors, between its initial collection and its use for Mineral Resource estimation purposes.

· Data validation procedures used.

Historical data from hard copy reports and electronic files such as excel and word, have been captured within a Datamine GDB database. Historical data has been audited by ROM Resources Geologists before entered, and cross referenced with recent data. Data base checks have been run by ROM Resources geologists before resource estimation commenced. Where the location of historical drill holes was in question they have been removed from the model. Reported collars have been adjusted to the topography model (drone) where the discrepancy is ±0.2m.

Site visits

· Comment on any site visits undertaken by the Competent Person and the outcome of those visits.

· If no site visits have been undertaken indicate why this is the case.

Mr Mark Biggs visited site on the 20th of November 2021 to observe the geology, as well as drilling and sampling procedures (Biggs, 2021). Recommendations to: (1) collect additional bulk density data from mineralised lodes; and (2) employ triple tube diamond drilling methods and in split logging for geotechnical holes have since been implemented. No other material issues were noted.

Geological interpretation

· Confidence in (or conversely, the uncertainty of) the geological interpretation of the mineral deposit.

· Nature of the data used and of any assumptions made.

· The effect, if any, of alternative interpretations on Mineral Resource estimation.

· The use of geology in guiding and controlling Mineral Resource estimation.

· The factors affecting continuity both of grade and geology.

The deposits have been interpreted on vertical oblique sections at variable spacing by reviewing geological logging and copper grades, as well as considering interpretations from historic mining reports and previously mined voids. Confidence is moderate in areas of close-spaced drilling.

Data has been supplied as a drill hole database, including collar, survey, lithology, weathering, and assay data.

Magnetic susceptibility readings completed on the RC chips have not uniquely characterised mineralised zones, either within or outside the dyke wireframe. The dyke is characterised by 10x Cr assay values.

Alternate correlations of lodes between drill holes are possible in some places but would not materially affect the Mineral Resource estimate.

Mineralised lodes have been interpreted using a 0.4% nominal copper cut off and aided with the use of lithology, veining, and structure to help identify the key shear structures.

Potentially economic mineralisation not always restricted to an easily identifiable sheared, porphyritic syenite or diorite. Within the lodes higher grade copper (>2%) is erratically distributed.

The main lode wireframe includes some barren material between copper mineralisation.

Due to its narrow nature the orientation of interpreted lode wireframes can be influenced locally due to the accuracy of down-hole surveys.

Dimensions

· The extent and variability of the Mineral Resource expressed as length (along strike or otherwise), plan width, and depth below surface to the upper and lower limits of the Mineral Resource.

The extent of Mineral Resource below the original topography is:

Main Strike = 1,200m, Depth = 200m, Width = 6 to 14m.

Mineralisation extends from the historical pit floor for the main lode.

Estimation and modelling techniques

· The nature and appropriateness of the estimation technique(s) applied and key assumptions, including treatment of extreme grade values, domaining, interpolation parameters and maximum distance of extrapolation from data points. If a computer assisted estimation method was chosen include a description of computer software and parameters used.

· The availability of check estimates, previous estimates and/or mine production records and whether the Mineral Resource estimate takes appropriate account of such data.

· The assumptions made regarding recovery of by-products.

· Estimation of deleterious elements or other non-grade variables of economic significance (eg sulphur for acid mine drainage characterisation).

· In the case of block model interpolation, the block size in relation to the average sample spacing and the search employed.

· Any assumptions behind modelling of selective mining units.

· Any assumptions about correlation between variables.

· Description of how the geological interpretation was used to control the resource estimates.

· Discussion of basis for using or not using grade cutting or capping.

· The process of validation, the checking process used, the comparison of model data to drill hole data, and use of reconciliation data if available.

Block grade estimation for Cu was by inverse distance squared methods (ID2). ID2 was considered suitable for the style of mineralisation, size of blocks relative to the drill hole spacing, and the assumed open pit and underground mining selectivity.

Drill holes were composited to 1m and data was interpolated using Datamine Minescape Block Model software.

Hard boundaries were adopted for lode wireframes, with each lode estimated independently.

No blocks outside the interpreted lodes were estimated.

Blocks were estimated using 1 - 8 samples with a maximum of 2 samples from any one drill hole.

A two-pass search strategy was employed with search ellipsoids orientated in accordance with the average lode orientation.

Main Lode:

Maximum search distance of 40m by 40m by 2m for search pass 1.

Maximum search distance of 55m by 55m by 4m for search pass 2.

Moisture

· Whether the tonnages are estimated on a dry basis or with natural moisture, and the method of determination of the moisture content.

Resource tonnages are estimated on a dry in situ basis (air-dried).

Cut-off parameters

· The basis of the adopted cut-off grade(s) or quality parameters applied.

Reporting cut-off grades of 0.65% Cu for open pit and will require confirmation through feasibility work.

Mining factors or assumptions

· Assumptions made regarding possible mining methods, minimum mining dimensions and internal (or, if applicable, external) mining dilution. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider potential mining methods, but the assumptions made regarding mining methods and parameters when estimating Mineral Resources may not always be rigorous. Where this is the case, this should be reported with an explanation of the basis of the mining assumptions made.

Big One has previously been selectively mined by open cut mining methods. A total of 6,500t of ore @ 6% Cu has been deducted from the resource estimate to reflect this.

Portions of the remaining resources are considered to have sufficient grade and continuity to be considered for both selective open cut and underground mining but will require confirmation through feasibility work.

No mining parameters or modifying factors have been applied to the Mineral Resources.

Metallurgical factors or assumptions

· The basis for assumptions or predictions regarding metallurgical amenability. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider potential metallurgical methods, but the assumptions regarding metallurgical treatment processes and parameters made when reporting Mineral Resources may not always be rigorous. Where this is the case, this should be reported with an explanation of the basis of the metallurgical assumptions made.

Metallurgical test work and the treatment process and metallurgical recovery will need to be confirmed through feasibility work.

Environmental factors or assumptions

· Assumptions made regarding possible waste and process residue disposal options. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider the potential environmental impacts of the mining and processing operation. While at this stage the determination of potential environmental impacts, particularly for a greenfields project, may not always be well advanced, the status of early consideration of these potential environmental impacts should be reported. Where these aspects have not been considered this should be reported with an explanation of the environmental assumptions made.

Big One is a lapsed Mining License with an EA in place (only on the EPM).

Historically, ore processing and tailings storage has been conducted off-site, various third-party options are available for offsite ore processing and tailings storage.

Mining has previously taken place at Big One with no significant environmental impediments.

Bulk density

· Whether assumed or determined. If assumed, the basis for the assumptions. If determined, the method used, whether wet or dry, the frequency of the measurements, the nature, size and representativeness of the samples.

· The bulk density for bulk material must have been measured by methods that adequately account for void spaces (vugs, porosity, etc), moisture and differences between rock and alteration zones within the deposit.

· Discuss assumptions for bulk density estimates used in the evaluation process of the different materials.

Bulk dry density has been determined from 0.3m unmineralised core from BO_334DD, which gave an average of 2.70 kg/m3 Measurements would been taken during the 1992-1996 open cut mining operation, which have not been sighted.

Average density measurements were assigned to the Big One model as follows; Oxide non-lode = 2.45 t/m3, Oxide lode = 2.55 t/m3, Fresh = 2.65.

Classification

· The basis for the classification of the Mineral Resources into varying confidence categories.

· Whether appropriate account has been taken of all relevant factors (ie relative confidence in tonnage/grade estimations, reliability of input data, confidence in continuity of geology and metal values, quality, quantity and distribution of the data).

· Whether the result appropriately reflects the Competent Person's view of the deposit.

The resources were classified on a block-by-block basis using estimation outputs. Inferred resource blocks required the closest sample within 35m, an average sample distance

The resource classification appropriately reflects the Competent Person's view of the deposit.

Audits or reviews

· The results of any audits or reviews of Mineral Resource estimates.

The Big One Mineral Resource estimate was undertaken by an external consultant but has not been audited or reviewed.

Discussion of relative accuracy/ confidence

· Where appropriate a statement of the relative accuracy and confidence level in the Mineral Resource estimate using an approach or procedure deemed appropriate by the Competent Person. For example, the application of statistical or geostatistical procedures to quantify the relative accuracy of the resource within stated confidence limits, or, if such an approach is not deemed appropriate, a qualitative discussion of the factors that could affect the relative accuracy and confidence of the estimate.

· The statement should specify whether it relates to global or local estimates, and, if local, state the relevant tonnages, which should be relevant to technical and economic evaluation. Documentation should include assumptions made and the procedures used.

· These statements of relative accuracy and confidence of the estimate should be compared with production data, where available.

The relative accuracy of the Mineral Resource estimate is reflected in the reporting of the Mineral Resource as per the guidelines of the 2012 JORC Code.

Detailed statistical and geostatistical methods to quantify the relative accuracy of the resource have not been undertaken. However, preliminary statistical analysis suggests the relative error of this estimate to be ±20-30%

Lode geometry and grade can vary significantly over short distances, but continuity of mineralisation and grade is supported by close-spaced drilling in areas classified as Inferred.

Drill hole data was collected and analysed using prevailing industry practices but a small amount of drilling pre-dates 1990. This was excluded in the Mineral Resource classification. There is a small possibility of the resource including minor amounts of undocumented underground voids from historical mining, however, post mining drilling did not intersect any underground voids.

The resource statement relates to the global resource estimate. The grade cut-offs and depth of potential open pit material used to determine the Mineral Resource were assumed and require confirmation through feasibility work. The deposit is not currently being mined, but the resource estimate has a lower average grade than production records for the same mineralisation zone that was mined at higher elevations from 1972-1996.

SiteID

Easting (GDA94)

Northing (GDA94)

Collar RL (m)

Total Depth (m)

Azimuth

Dip

Note

Comments

BO_315RC

335416.54

7880310.99

156.13

80.00

320.8

-57.6

Redrill 201RC

Breakdowns delayed hole.

BO_316RC

335426.88

7880296.19

156.04

155.00

349.6

-71.9

Redrill 202RC

BO_317RC

335392.82

7880285.23

154.67

125.00

347.6

-59.6

Redrill 306RC

BO_318RC

335431.00

7880282.63

155.58

203.00

344.2

-74.6

Redrill 203RC

BO_319RC

335288.27

7880265.10

152.63

149.00

331.9

-72.7

Redrill 312RC

BO_320RC

335309.56

7880203.56

155.53

83.00

329.3

-60.0

New hole

Abandoned due to high water flow

BO_321RC

335224.68

7880234.68

154.47

137.00

321.6

-66.0

BO_322RC

335191.11

7880219.79

154.75

131.00

324.2

-65.4

BO_323RC

335158.35

7880188.76

155.04

131.00

331.6

-61.9

Matched to 325RC

BO_324RC

335118.00

7880203.00

157.00

76.00

328.2

-61.8

Abandoned due to faulted ground and cavities

BO_325RC

335113.69

7880291.66

151.26

130.00

164.4

-64.5

Oriented south

BO_326RC

335175.53

7880306.22

151.81

191.00

160.4

-57.1

Oriented south

Breakdowns, abandoned due to high water flow

BO_327RC

335333.50

7880264.58

153.26

173.00

324.4

-61.6

BO_328RC

335376.95

7880295.83

154.36

131.00

332.6

-62.4

BO_329RC

335402.88

7880254.32

155.84

120.00

320.4

-60.0

BO_330RC

335412.00

7880211.00

163.00

130.00

333.2

-60.4

BO_331RC

335275.45

7880249.48

152.89

161.00

322.6

-56.0

BO_332RC

335294.48

7880240.07

153.76

132.00

330.8

-58.0

Redrill of 320RC

BO_333RC

335110.60

7880194.01

154.21

125.00

330.2

-60.3

Redrill of 324RC

BO_334DD

335458.29

7880313.59

157.59

104.98

335.0

-61.2

Between 207RC and 304RC

HQ cored from 68.85m; 32.31m HQ core

2,667.98

SiteID

Easting (GDA94)

Northing (GDA94)

Collar RL (m)

Total Depth (m)

Azimuth

Dip

Note

Comments

BO_201RC

335414.80

7880310.43

156.04

50.0

306.5

-51.6

BO_202RC

335428.03

7880299.12

156.29

82.0

342.0

-62.2

BO_203RC

335432.18

7880283.98

155.60

107.0

330.5

-70.5

BO_206RC

335468.16

7880333.15

158.40

71.0

340.1

-65.5

BO_207RC

335476.25

7880316.80

158.42

95.0

332.1

-61.4

BO_211RC

335443.87

7880324.68

157.30

107.0

345.0

-67.9

BO_213RC

335389.02

7880302.33

155.35

107.0

338.4

-69.3

BO_301RC

335405.00

7880325.87

156.98

53.0

339.0

-66.7

Mineralised entire length

BO_302RC

335382.75

7880316.70

156.11

59.0

342.3

-68.1

BO_303RC

335425.16

7880339.52

158.31

53.0

342.6

-60.8

Mineralised entire length

BO_304RC

335448.96

7880312.64

157.18

107.0

340.8

-65.3

BO_305RC

335461.65

7880346.92

159.13

53.0

340.5

-69.0

BO_306RC

335391.40

7880285.01

154.58

107.00

337.4

-70.1

BO_307RC

335481.53

7880361.85

160.40

91.00

336.4

-69.2

BO_308RC

335339.75

7880305.93

153.40

53.0

335.8

-65.3

BO_309RC

335350.03

7880291.61

153.31

77.0

346.5

-68.5

BO_310RC

335347.89

7880277.61

153.62

107.0

336.1

-66.9

BO_311RC

335281.18

7880275.09

152.02

59.0

336.8

-66.7

BO_312RC

335286.17

7880264.98

152.23

83.0

344.0

-65.3

BO_313RC

335209.65

7880258.84

153.98

59.0

344.8

-66.8

BO_314RC

335221.14

7880250.74

153.92

71.0

330.2

-63.2

1,651

Drillhole

From (m)

To (m)

Apparent Length (m)

Cu (%)

Notes

BO_315RC

61.0

69.0

8.0

0.50%

Visual mineralisation 62-69m

including

65.0

68.0

3.0

1.22%

BO_316RC

137.0

146.0

9.0

0.64%

Visual mineralisation 129-146m

including

141.0

146.0

5.0

1.06%

BO_317RC

88.0

97.0

9.0

1.42%

Visual mineralisation 90.5-103m

including

92.0

96.0

4.0

3.06%

including

92.0

93.0

1.0

9.19%

Also 3.4 g/t Ag

BO_318RC

166

182

16.0

0.59%

including

176

179

3.0

1.76%

BO_319RC

-

-

0

-

All samples

BO_320RC

-

-

0

-

Abandoned shallow; All samples

BO_321RC

-

-

0

-

All samples

BO_322RC

-

-

0

-

All samples

BO_323RC

64

65

1.0

0.06%

BO_323RC

94

96

2.0

0.11%

BO_324RC

46

49

3.0

0.05%

Abandoned shallow; All other samples

BO_325RC

88

89

1.0

0.05%

All other samples

BO_326RC

100

104

4.0

0.56%

including

100

101

1.0

1.58%

BO_326RC

102

103

1.0

-

0.15ppm Au

BO_326RC

141

144

3.0

-

0.16ppm Au

BO_327RC

93

98

5.0

0.77%

including

95

97

2.0

1.57%

BO_327RC

103

104

1.0

0.43%

BO_327RC

122

123

1.0

0.11%

BO_328RC

-

-

0

-

All samples

BO_329RC

-

-

0

-

No dyke; All samples

BO_330RC

-

-

0

-

No dyke; All samples

BO_331RC

75

76

1.0

0.05%

BO_332RC

110

111

1.0

0.05%

BO_333RC

42

45

3.0

0.15%

including

43

44

1.0

0.31%

BO_334DD

In the RC section, all samples

Borehole

From (m)

To (m)

Apparent Thickness (m)

Comments

BO_315RC

58.0

61.0

2.0

Quartzite

BO_315RC

61.0

69.0

8.0

Trachyte to porphyry dacite

BO_315RC

69.0

71.0

2.0

Quartzite

BO_316RC

113.0

120.0

7.0

Quartzite

BO_316RC

129.0

146.5

17.5

Trachyte to porphyry dacite

BO_317RC

11.0

13.0

2.0

Haematite-rich Shale

BO_317RC

20.0

24.0

1.0

Quartzite; Pyrolusite

BO_317RC

42.0

43.0

1.0

Quartzite; Pyrolusite

BO_317RC

65.0

66.0

1.0

Quartzite; Pyrolusite

BO_317RC

75.0

76.0

1.0

Siltstone; Potassic Alteration

BO_317RC

90.5

103.0

12.5

Andesite dyke, plus sericite and chrysocolla

BO_317RC

103.0

105.0

2.0

Quartzite

BO_318RC

89.0

100.0

11.0

Dacitic

BO_318RC

153.0

187.0

34.0

Dacitic, some orthoclase

BO_319RC

55.0

64.0

9.0

Dacitic, some orthoclase

BO_319RC

83.0

84.0

1.0

Quartzite

BO_319RC

87.0

91.0

4.0

Dacitic

BO_319RC

96.0

98.0

2.0

Dacitic

BO_320RC

79.0

80.0

1.0

Quartzite, some orthoclase

BO_321RC

63.0

72.0

9.0

Dacitic

BO_321RC

86.0

88.0

2.0

Quartzite

BO_321RC

97.0

100.0

3.0

Quartzite

BO_322RC

57

73.5

16.5

Dacitic

BO_323RC

8

9

1.0

Dacitic, pervasive orthoclase

BO_323RC

82

97

15.0

Dacitic, some orthoclase

BO_324RC

3

6

3.0

Quartzite

BO_324RC

33

40

7.0

Fractured quartzite

BO_324RC

41

53

12.0

Dacite

BO_325RC

2

4

2.0

Dacite

BO_325RC

45

46

1.0

Dacitic

BO_326RC

5

9

4.0

Dacite

BO_326RC

27

28

1.0

Quartzite with abundant pyrite

BO_326RC

134

161

27.0

Dacite

BO_327RC

84

98

14.0

Dacite

BO_327RC

98

99

1.0

Quartzite

BO_328RC

62

73.5

11.5

Dacite

BO_328RC

101

102

1

Dacite

BO_329RC

0

No igneous intrusions

BO_330RC

70

75

5.0

No igneous intrusions; but skarn

BO_330RC

81

82

1.0

Skarn

BO_330RC

100

102

2.0

Skarn

BO_330RC

122

125

3.0

Skarn

BO_331RC

58

59

1.0

Dacite

BO_331RC

75.5

83.5

8.0

Dacite

BO_331RC

114.5

116

1.5

Dacite and skarn

BO_332RC

81.5

94.5

13.0

Dacite

BO_332RC

108.5

111

2.5

Dacite

BO_333RC

37

42

5.0

Dacite

BO_333RC

45

46

1.0

Dacite

BO_334DD

86.49

95.52

9.03

Dacite

Borehole

From (m)

To (m)

Apparent Thick. (m)

Magnetite

(%)

Epidote (%)

Sericite (%)

Sulphides (%)

Comments

BO_315RC

58.0

61.0

2.0

0-1

1-3

Quartzite, very weakly mineralised

BO_315RC

61.0

69.0

8.0

1-2

1-8

1-4

Trachyte to porphyry dacite

BO_315RC

69.0

71.0

2.0

1-5

0-1

Quartzite, very weakly mineralised

BO_316RC

113.0

120.0

7.0

1-15

0-1

Quartzite, very weakly mineralised

BO_316RC

129.0

146.5

17.5

1-5

1-10

1-7

Trachyte to porphyry dacite

BO_317RC

11.0

13.0

2.0

1-3

Haematite-rich Shale

BO_317RC

20.0

24.0

1.0

0-1

Quartzite; 0-2% Pyrolusite

BO_317RC

42.0

43.0

1.0

Quartzite; 0-2% Pyrolusite

BO_317RC

65.0

66.0

1.0

Quartzite; 0-2% Pyrolusite

BO_317RC

75.0

76.0

1.0

Siltstone; 3-5% Potassic Alteration

BO_317RC

90.5

103.0

12.5

0-2

1-15

1-3

1-4

Andesite dyke, plus sericite and chrysocolla

BO_317RC

103.0

105.0

2.0

1-2

Quartzite, very weakly mineralised

BO_318RC

89

100

11

1-3

1-3

1-2

0-1

Drilled next to 203RC, Dacitic

BO_318RC

153

187

34

1-5

1-5

1-15

Dacitic, some orthoclase

BO_319RC

55

64

9

1-10

1-5

1-3

0-10

Drilled next to 312RC. Dacitic, some orthoclase

BO_319RC

83

84

1

0

1-5

Quartzite

BO_319RC

87

91

4

1-5

1-5

Dacitic

BO_319RC

96

98

2

0

1-5

1-5

Dacitic

BO_320RC

79

80

1

5-10

Quartzite. new hole abandoned at 83m due to high water flow; up to 10% orthoclase

BO_321RC

63

72

9

5-50

1-5

Dacitic

BO_321RC

86

88

2

5-10

1-3

Quartzite

BO_321RC

97

100

3

0-5

1-10

0-1

Quartzite

BO_322RC

57

73.5

16.5

1-10

0

1-2

0-5

Dacitic

BO_323RC

8

9

1.0

1-20

1-2

0

3-5

Dacitic, pervasive orthoclase

BO_323RC

82

97

15.0

1-10

1-5

0

0-3

Dacitic, some orthoclase

BO_324RC

3

6

3.0

1-5

0

1-3

1-5

Quartzite

BO_324RC

33

40

7.0

1-10

0

0

1-2

Fractured quartzite

BO_324RC

41

53

12.0

2-15

1-5

1-5

1-6

Dacite; hole abandoned at 76m

BO_325RC

2

4

2.0

5-10

0

0

1-5

Dacite

BO_325RC

45

46

1.0

1-5

1-5

1-5

1-3

Dacitic

BO_326RC

5

9

4.0

5-10

0

0

1-3

Dacite

BO_326RC

27

28

1.0

0-5

0

1-5

0-1

Quartzite with abundant pyrite

BO_326RC

96

100

4.0

0-5

0-2

1-5

1-3

Dacite

BO_326RC

134

160

26.0

0-25

1-5

0-10

1-6

Dacite

BO_327RC

60

68

8.0

0-10

1-3

0-2

1-5

Dacite

BO_327RC

81

90

8.0

0-15

1-5

0-3

1-5

Dacite

BO_327RC

90

99

9.0

0-20

1-3

0

5-10

Quartzite

BO_328RC

5

6

1.0

0

0

0

5-6

Azurite

BO_328RC

63

65

2.0

0

0

0

0-2

Dacite

BO_328RC

65

66

1.0

0

0

0

1-3

Dacite

BO_328RC

66

68

2.0

0

0

0

0-2

Also 2% chlorite

BO_329RC

29

32

3.0

0-5

0

0

0

Goethite

BO_329RC

116

117

1.0

0

2-10

0

0-1

Quartzite

BO_330RC

58

60

2.0

0

0

0

0-2

Chalcopyrite and Chalcocite

BO_330RC

60

61

1.0

0

0

0

0-1

Sphalerite

BO_330RC

70

75

5.0

0

0

0

0

Skarn 2-6% garnet

BO_330RC

110

111

1.0

0

0

0

0-2

Chalcopyrite

BO_330RC

127

128

1.0

0

0

0

0-2

Chalcopyrite

BO_330RC

131

132

1.0

0

0

0

0-2

Chalcopyrite

BO_330RC

133

134

1.0

0

0

0

0-2

Chalcopyrite

BO_331RC

58

59

1.0

0

0

0

0-1

Dacite

BO_331RC

75.5

83.5

8.0

0

0-1

1-5

0-3

Dacite

BO_331RC

104

105

1.0

0

0

0

0-1

Quartzite

BO_331RC

114.5

116

1.5

0

0

2-15

0

Skarn, Garnet 1-2%

BO_332RC

81.5

94.5

13.0

0-1

0-3

1-5

1-2

Dacite

BO_332RC

102

103

1.0

0

0

0-2

0-2

Quartzite

BO_332RC

108.5

111

2.5

0

1-10

1-5

0-2

Dacite

BO_332RC

120

122

2.0

0

0

0

0-1

Quartzite

BO_333RC

11

13

2.0

0

0

0

0-2

Siltstone

BO_333RC

19

21

2.0

0

0

0

0-2

Quartzite

BO_333RC

26

27

1.0

0

0

1.5

0-2

Quartzite

BO_333RC

37

42

6.0

0-1

1-5

1-10

0-3

Dacite

BO_333RC

45

46

1.0

0

0-5

1-3

0-3

Dacite

BO_333RC

104

108

4.0

0

0

0

0-1

Quartzite, 1-3% chlorite

BO_333RC

117

118

1.0

0

0

0

0-1

Quartzite

BO_334DD

71

78

6.0

0-1

0-2

0-2

0-1

Quartzite

BO_327RC

86.49

95.52

9.03

0-5

1-5

1-10

0-3

Dacite

Line_SiteID

X

Y

Z

Cu_Pxrf_

ppm

Lab_Au_

ppm

Lab_Ag_

ppm

Lab_Co_

ppm

Lab_Cu_

ppm

Rock Description

300_02

335244.6

7880365.7

155.7

55.5

0.01

0.05

9

180

Weathered light grey, brown quartzite

300_03

335254.3

7880342.6

155.0

49.5

0.01

9

144

Strongly weathered fine grained siltstone with secondary haematite

300_12

335341.3

7880135.1

160.2

62

0.07

16

135

Weathered pink partly albite altered sandstone with manganese? staining

400_16

335356.0

7880358.0

157.0

146

0.09

8

165

Strongly weathered fine grained ferruginous sandstone with some secondary haematite veins

400_17

335366.0

7880335.0

156.0

615

0.74

31

8,260

Weathered locally spherulitic? dacite, part sericite altered and sericite-epidote alteration of spherules. Some dark grey haematite after sulphide veins

400_18

335376.0

7880312.0

156.0

101

0.03

4

117

Medium grained white quartzite (all quartz)

400_19

335385.0

7880289.0

156.0

738

0.06

17

164

Medium grained pink ferruginous sandstone

500_05

335458.1

7880373.9

165.2

222

0.01

0.01

21

405

Weathered ferruginous siltstone

500_06

335467.7

7880350.8

162.7

2,422

0.49

46

3,180

Chrysocolla-stained strong albite-K-feldspar altered siltstone with relict haematite after oxidised chalcopyrite?

500_07

335477.4

7880327.8

160.9

578

0.01

0.48

37

6,430

Pink, brown weathered siltstone

600_12

335540.6

7880435.6

190.8

103

0.01

7

115

Strongly weathered light to medium brown, medium grained quartz-feldspar-clay-feldspar sandstone with haematite and goethite

600_13

335550.3

7880412.6

186.5

236

0.06

0.02

7

333

Strongly weathered pitted red brown to light brown quartzite with quartz and intergranular clay

600_14

335559.9

7880389.5

182.3

1,049

0.21

168

4,000

Strongly albitised siltstone with traces of malachite on surface, part botryoidal fine-grained haematite after possible sulphide vein

SiteID

X

Y

Z

Cu_Pxrf_ppm

Lab_Au_ppm

Lab_Ag_ppm

Lab_Co_ppm

Lab_Cu_ppm

Rock Description

2021_BO_03

335532

7880325

160

28

0.02

0.02

7.9

21.7

Pink fine grained finely bedded siltstone

2021_BO_11

335574

7880283

160

20

0.01

0.01

0.6

6

Quartz vein in white quartzite with some secondary haematite

2021_BO_15

335325

7880173

160

27

0.02

0.01

13.3

33.2

Weathered finely bedded pink haematitic siltstone

2021_BO_20

335470

7880108