Recharge Metals : Amended Significant Copper Mineralisation at Brandy Hill Sth

ASX ANNOUNCEMENT

29 March 2022

Amended Significant Copper Mineralisation at Brandy

Hill South

Key Highlights

• • Diamond drilling at the Brandy Hill South project has intersected ultramafic / high-Mg basalts in Hole BHRCD019 from 92m to end of hole at 393m

• • Massive sulphide, brecciated zones of semi-massive sulphide and disseminated visual copper sulphide mineralisation observed from 92m to end of hole at 393m

• • Observations in the diamond drill core confirm the host rocks at Brandy Hill South are fertile

• • Mineralisation remains open at depth and along strike

Recharge Metals Limited (ASX: REC, Recharge or the Company) is pleased to provide an update on the Company's diamond drilling activities at the Brandy Hill South Project located within the Archaean Gullewa Greenstone Belt within the Murchison Province, Yilgarn Craton.

Following Recharge's maiden Reverse Circulation (RC) outlined below, three (3) holes (BHRC018, BHRC019 and BHRC023) were selected to be extended with diamond tails to provide valuable structural and lithological information. The diamond drillcore is anticipated to assist in understanding the nature of the primary mineralisation as well as the apparent supergene mineralisation identified within the oxide/transition zones of the weathered profile.

Preliminary observations from drillcore returned from hole BHRCD019 identified ultramafic / high-Mg basalt with:

• • blebby and massive sulphides:

• • brecciated zones of semi-massive sulphide and associated sulphide veins and veinlets:

• • disseminated sulphides, including chalcopyrite (copper sulphide) mineralisation.

BHRCD019 was drilled beyond the planned depth of 300m to 393m due to the presence of sulphides beyond the target zone. Drilling intersected intense hydrothermal alteration, including carbonate, chlorite, epidote, quartz and sericite, throughout the lithological sequence.

Copper minerals, such as chalcopyrite, were observed throughout the drillhole. The presence of copper is supported by in-field readings taken using a portable x-ray fluorescence instrument (pXRF)1.

Drill core from hole BHRCD019 will undergo more detailed logging, prior to sampling and analytical testing. The Company will provide an update once results are received.

1 The Company cautions that visual mineralisation observations in the field - even when accompanied by pXRF values - are indicative only and are considered subordinate to conventional laboratory analysis

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Reverse Circulation (RC) drilling program

As background, Recharge completed its maiden Reverse Circulation (RC) drilling program in January 2022, with a total of twenty (20) RC holes for 3,374m completed. Significant results returned from first four holes (refer ASX Announcement 8 February 2022) included:

• • 12m @ 1.20% Cu from 74m, including 4m @ 2.87% Cu from 74m in BHRC006;

• • 1m @ 5.92% Cu from 147m in BHRC006;

• • 32m @ 0.49% Cu from 65m in BHRC007;

• • 10m @ 0.71% Cu from 69m in BHRC008; and

• • 16m @ 0.41% Cu from 78m, including 1m @ 1.46% Cu from 87m in BHRC020

Assay results are pending for the remaining 16 RC holes completed during December 2021 and January 2022, Recharge will update the market once results are received.

Recharge Managing Director Brett Wallace commented:

"The diamond tail drilling program was planned to provide valuable structural and lithological information which will allow Recharge to evaluate the continuity of mineralisation and the nature of the primary mineralisation as well as the apparent supergene mineralisation. It is an outstanding result to observe abundant copper sulphide mineralisation from 92m to end of hole at 393m.

We are very pleased with the observations made so far and we look forward to completing the remaining two diamond tails and receiving assay results."

Table 1: Visual estimates of sulphide mineralisation intersections in BHRCD019 at the Brandy Hill South Project

Hole ID	From	To	Width	Lith	Sulp style	Slph_1	Slph_2	Slph_3	%	Mineralisation Description
(M)
BHRCD019	91	92.7	1.7	MBB	DS	py	cp	2	Silicified basalt with disseminated sulphides comprising pyrite and chalcopyrite
BHRCD019	92.7	108.3	15.6	MBK	DS	py	as	2	High Mg basalt with disseminated sulphides comprising pyrite and arsenopyrite, and magnetite
BHRCD019	108.3	129.3	21	U	DS	py	cp	2	Chlortised Ultramafic with massive and disseminated sulphides comprising pyrite and chalcopyrite, and magnetite
BHRCD019	129.3	138	8.7	U	DS	py	cp	3	fine grained basalt with disseminated sulphides comprising pyrite and chalcopyrite, and magnetite
BHRCD019	138	154.7	16.7	U	DS	py	as	2	Ultramafic with quartz veining with disseminated sulphides comprising pyrite and chalcopyrite, and magnetite
BHRCD019	154.7	162.8	8.1	U	DS	py	cp	10	fine grained basalt with disseminated sulphides comprising pyrite and chalcopyrite, and magnetite
BHRCD019	162.8	174.2	11.4	MBB	DS	py	cp	5	fine grained basalt with massive and disseminated sulphides comprising pyrite and chalcopyrite, and magnetite

BHRCD019	174.2	180.2	6	Xse	BL & DS	py	cp	5	mafic sediment with quartz veining with blebby and disseminated sulphides comprising pyrite and chalcopyrite
BHRCD019	180.2	197.1	16.9	Xse	BL & DS	py	cp	5	Metasediment with blebby and disseminated sulphides comprising pyrite and chalcopyrite
BHRCD019	197.1	213.2	16.1	MBB	BL & DS	py	cp	as	10	fine grained basalt with quartz veining with massive and disseminated sulphides comprising pyrite, arsenopyrite and chalcopyrite, and magnetite
BHRCD019	213.2	233	19.8	MBB	BL & DS	py	cp	10	Ultramafic with quartz veining with massive, blebby and disseminated sulphides comprising pyrite and chalcopyrite, and magnetite
BHRCD019	233	260	27	U	BL, SM & DS	py	cp	10	Ultramafic with quartz veining with blebby, semi massive and disseminated sulphides comprising pyrite and chalcopyrite, and magnetite
BHRCD019	260	274.7	14.7	U	MAS, Bl & DS	py	cp	as	15	Ultramafic with quartz veining with massive and disseminated sulphides comprising pyrite, arsenopyrite and chalcopyrite, and magnetite
BHRCD019	274.7	338.5	63.8	U	BL & DS	py	cp	as	10	Ultramafic with quartz veining with blebby and disseminated sulphides comprising pyrite, arsenopyrite and chalcopyrite, and magnetite

MAS, BL &BHRCD019

338.5

393

54.5

U

py

cp

as

15

DS

Ultramafic with quartz veining with massive, blebby and disseminated sulphides comprising pyrite, arsenopyrite and chalcopyrite, and magnetite

MAS - Massive Sulphide DS - Disseminated Sulphide SM - Semi Massive Sulphide BL - Bleby Sulfides

MBB - Basalt

U - undifferentiated ultramafic Xse - Metasediment py - Pyrite cp - Chalcopyrite as - Arsenopyrite

In relation to the disclosure of visual mineralisation, the Company cautions that visual estimates of sulphide and oxide material abundance should never be considered a proxy or substitute for laboratory analysis. Laboratory assay results are required to determine the widths and grade of the visible mineralisation reported in preliminary geological logging. The Company will update the market when laboratory analytical results become available.

No deleterious elements or impurities were observed in the relevant intercepts other than as disclosed in the mineralisation description.

Table 2: Drillhole collar details for Diamond Tail drilling program - Brandy Hill South

HoleID	East1	North1	RL1	Dip	Azi	Depth
(m)	(m)	(m)	(m)
BHRC019	444057	6805307	277	-60	90	393

1 Easting and Northing Coordinate System = UTM GDA94 Zone 50