Jamieson Tank Mn Exploration Target - Data, Methodology, Assumptions: The data used to estimate the Jamieson Tank Exploration Target comprised the Monax 2008 to 2012 drill data and ChemX 2022 drill data. The maiden 2022 ChemX drilling programme was aimed at improving confidence in the continuity of the previously identified manganese mineralisation at Jamieson Tank. The historical and 2022 drill data was reviewed by mining consultants CSA Global Pty Ltd. (CSA Global) prior to the estimation of the Exploration Target. Key assumptions supporting the Exploration Target include: Using Leapfrog Geo software, a total of 17 wireframes were created with the following assumptions: A grade driven manganese mineralisation interpretation was completed based on moderate to steeply east dipping mineralisation trends, - A minimum of two metres (two by one metre samples) were used to define the wireframes. The drill hole collar RL in the north was approximately 270RL with the model limit 170RL therefore a total depth extent of 100m was applied. The drill hole collar RL in the south was approximately 250RL with the model limit 170RL therefore a total depth extent of 80m was applied. The drill spacing is typically approximately 20m to 25m spaced holes on approximately 200m spaced sections. Total of 208 drillholes for a total of 11,276.5m used including 62 RC holes for 3,529 m; 117 RAB holes for 6,491 m; 29 AC holes for 1,256.5m. Not all drillholes were used in the determination of the Exploration Target. Several drillholes ended in manganese mineralisation. Mineralisation continuity on sections (across strike) is poor given the limited drilling down dip to define each wireframe. Additional drilling required as infill and also down dip. The extrapolation of wireframes along strike between the 200m spaced sections is ambiguous and requires infill drilling.
A barren cover sequence was defined that includes sand, calcrete, and laterite. Density assumed to be 1.9 t/m3 Oxide domains were not considered. Wireframes were extrapolated one drill spacing along strike where open, or half section spacing between where mineralisation appears to diminish or the extrapolation was not possible. An approximate cut-off of 6% Mn was used to interpreted mineralisation along with logged lithology. Tonnage ranges for the Exploration Target were taken as the Leapfrog wireframe Volume x Density (1.9 t/m3) +/- 25% for the Upper and Lower Ranges. Grade ranges for the Exploration Target were taken as the mean of the raw sample data for the Lower Range, and the 75th percentile for the Upper Range. Grades are length weighted. Significant manganese drill intercepts and assays from the ChemX 2022 work programme were previously reported to the market in the ASX Release dated 23 June 2022. Geological Risks: The main geological risks include the poor mineralisation continuity on sections (across strike) given the limited drilling down dip to define each wireframe. Other risks include the absence of QAQC practices and the use of an assumed density in lieu of a measured density. Recommended Work Programme To mitigate the geological risks and test the validity of the Exploration Target, ChemX intends to undertake an infill drilling programme adopting all appropriate industry standard JORC compliance practices. These include but are not limited to, appropriate geological logging, data collection, assaying, survey, downhole density, QAQC practices, data management and Competent Person signoff of. A drill hole and interpreted manganese mineralisation outline plan is included as Figure 1. Schematic representative cross sections are included as Figure 3 and Figure 4. A summary of sampling techniques and data, estimation and reporting methodologies which support the Exploration Target is contained in JORC Table 1 which is included as Appendix 1 to this ASX release. Additional Manganese Prospect - Hodgins A review of historical drill data has confirmed the presence of significant manganese mineralisation on the Hodgins prospect. Significant grades include: 10m @ 29.2 % Mn (Drill hole HRC05 46 to 56m EOH) - 20m @ 23. 8% Mn (Drill hole HRC05 22 to 42m) - 11m @ 20.8 % Mn (Drill hole HRC03 9 to 20m) - 14m @ 16.8% Mn (Hole HRC01 32-46m). Further work is required to establish the grade and mineralisation continuity of the prospect. A drill hole location plan is included as Figure 5 and schematic cross section (Archer, 201) as Figure 6. A drill collar summary table is included as Appendix 3.