Another Booming Gold Hit from RAS

Santana Minerals Ltd
Level 1, 371 Queen St
Brisbane, QLD 4000
ABN 37 161 946 989
GPO Box 1305
Brisbane, QLD4000

T: +61 7 3221 7501



19 August 2024

Another Booming Gold Hit from RAS

Santana Minerals Ltd (Santana, ASX/NZX: SMI or the Company) is pleased to advise that the latest drill
intercept from infill drilling of the high grade-core at RAS has returned one of the best results to date:
▪ MDD326 41.6m @ 8.6g/t Au from 164.4m (true width 38.8m)
Santana CEO, Damian Spring said:
“With every hole we drill into RAS the outcomes just get better! We drilled this latest series of holes
with intent to constrain the bonanza results within our high-grade core. They have shown it to be
bigger and more continuous than we originally thought and this better-defined high-grade core will
now form the foundation of our early production planning for the future mine.”
Figure 1 – Plan view of RAS showing assay results from the seven holes drilled during the resource validation campaign


Announcement
ASX:SMI
NZX:SMI

2

The infill drilling program focussed on the high-grade core and was planned to address the impacts of
high-grade projection during resource modelling. Rather than show we needed to constrain the
impact, the drilling has proved a consistent, rich, tabular core exists.
The high proportion of gold metal in this bonanza zone which is now infilled to approximately 25m
hole spacings is extraordinarily high. This portion of the high-grade core has been infilled over 350m
of strike with the 200 gram x metre core being approximately 100m wide.
The results of all holes in the program including the last in this initial campaign are tabulated below:


Figure 2 – Cross section at N5017240 showing consistent thick, high-grade intercepts within the Type 1 Quartz-Vein halo
(red line)

MDD313 30.7m @ 7.9g/t Au from 170.3m (true width 27.0m)
MDD326 41.6m @ 8.6g/t Au from 164.4m (true width 38.8m)
MDD328 41.8m @ 5.8g/t Au from 167.3 (true width 38.5m)
MDD329 34.5m @ 5.4g/t Au from 173.5m (true width 32.7m)
MDD330 39.5m @ 5.1g/t Au from 167.5 (true width 35.9m)
MDD332 35.4m @ 8.3g/t Au from 161.6m (true width 32.1m)
MDD334 26.6m @ 3.1g/t Au from 154.4m (true width 24.0m), and
24.0m @ 3.2g/t Au from 186.0m (true width 21.7m)

3


Figure 3 – Long section at RAS capturing all seven resource validation holes, showing consistent results within the Type 1
Quartz Vein halo (red line)

Our drilling focus has now turned to resource definition drilling aimed at upgrading the Come-in-Time
satellite deposit into the Indicated JORC resource category for potential inclusion in ongoing mine
optimisations.

Drill rigs are also completing a number of geotechnical holes required for establishment of
infrastructure on the site. The Company remains focused on completion of the PFS in the December
quarter.

Ends.

This announcement has been authorised for release by the Board.


Enquiries:

Damian Spring
Exec. Director & CEO
dspring@santanaminerals.com
Sam Smith
Exec. Director Corp Affairs & IR
ssmith@santanaminerals.com

4

Bendigo-Ophir Project Mineral Resource Estimate
The Project contains a Mineral Resource Estimate (MRE) calculated at a cutoff grade of 0.5 g/t Au with top cuts applied, as at June 2024:
Table 1. June 2024 MRE Estimates
Previous Disclosure - 2012 JORC Code
Information relating to Mineral Resources, Exploration Targets and Exploration Data associated with the Company’s
projects in this announcement is extracted from the following ASX Announcements:
• ASX announcement titled “MDD054 “JEWELLERY BOX” RE-ASSAYS TO 1400 g/t GOLD” dated 22 August 2022
• ASX announcement titled “Bendigo-Ophir Exploration and Project Update” dated 04 January 2024
• ASX announcement titled “High-Grade Intercepts Close out Resource Drilling at RAS” dated 24 January 2024
• ASX announcement titled “1.3m ounces upgraded to Indicated category from RAS drilling” dated 16 February 2024
• ASX announcement titled “Further Positive Drill Results from Infill Drilling at RAS” dated 26 March 2024
• ASX announcement titled “Outstanding Economics - RAS Scoping Study (First 10 Years)” dated 17 April 2024
• ASX announcement titled “Exploration Update” dated 6 June 2024
• ASX announcement titled “Infill drilling increases RAS Indicated category to 1.45Moz” dated 2 July 2024
• ASX announcement titled “More thick high-grade intercepts from RAS” dated 15 July 2024
• ASX announcement titled “RAS Shines, SHR Complements” dated 30 July 2024

A copy of such announcement is available to view on the Santana Minerals Limited website www.santanaminerals.com.
The reports were issued in accordance with the 2012 Edition of the JORC Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves. The Company confirms that it is not aware of any new information or data
that materially affects the information included in the original market announcements. The Company confirms that the
form and context in which the Competent Person’s findings are presented have not been materially modified from the
original market announcements.
Current Disclosure - Competent Persons Statement
The information in this report that relates to Exploration Results is based on information compiled by Mr Hamish
McLauchlan who is a Fellow of The Australasian Institute of Mining and Metallurgy (AusIMM). Mr McLauchlan is a
consultant and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration
and to the activity which thay are undertaking to qualify as Competent Persons as defined in the 2012 Edition of the
‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.’ Mr McLauchlan consents to
the inclusion in this report of the matters based on their information in the form and context in which it appears. The
Company confirms that the form and context in which the Competent Person’s findings are presented have not been
materially modified. Mr McLauchlan is eligible to participate in STI and LTI schemes in place as performance incentives for
key personnel.



Deposit Category tonnes (Mt) Au grade (g/t) Contained Gold
(koz)
RAS

Indicated 19.1 2.4 1,445
Inferred 11.4 2.1 772
RAS Total Indicated and Inferred
30.6 2.3 2,217
CIT

Inferred 1.2 1.5 59
SHR

Inferred 4.7 1.1 174
SRE

Inferred 0.3 1.3 11
RSSZ Total
Indicated 19.1 2.4 1,445
Inferred 17.6 1.8 1,018
RSSZ Total Indicated and Inferred 36.8 2.1 2,463

5



The Company confirms that the form and context in which the Competent Person’s findings are presented have not been
materially modified.
Forward Looking Statements
Forward-looking statements in this announcement include, but are not limited to, statements with respect to Santana’s
plans, strategy, activities, events or developments the Company believes, expects or anticipates will or may occur. By their
very nature, forward-looking statements require Santana to make assumptions that may not materialize or that may not be
accurate. Although Santana believes that the expectations reflected in the forward-looking statements in this
announcement are reasonable, no assurance can be given that these expectations will prove to have been correct, as actual
results and future events could differ materially from those anticipated in the forward-looking statements. Accordingly,
viewers are cautioned not to place undue reliance on forward-looking statements. Santana does not undertake to update
publicly or to revise any of the included forward-looking statements, except as may be required under applicable securities
laws.

Appendix 1 - New Drill holes – New Mineralised Intercepts (top-cut to 100 g/t and at a 0.5
g/t lower cut-off grade)

Deposit Drillhole
From
(m)
Drill
Intercept
(m)
Estimated
True
Width
(m)
Average Gold Grade (g/t)
(min 0.5g/t Au)
Metal Units
(metre x gram/tonne)
RAS MDD326
164.4 41.6 38.8 8.6
358.3
210.0 1.0 0.9 0.9
0.9
221.0 1.0 0.9 1.2
1.2

6

Appendix 2 - New Drillholes Reported (in bold)

Deposit Hole No
East
NZTM
North
NZTM
RL
Azimuth
(T Avg)
Dip
(Avg)
Length Method Status Results
RAS MDD313 1318076 5017150 744.1 279 -62 230 OHD Completed Reported
RAS MDD326 1317984 5017242 741
132.5
-80 234 OHD Completed Reported
RAS MDD328 1318088 5017276 706.7 266.3 -62 220 OHD Completed Reported
RAS MDD329 1318085 5017341 692.9 262.4 -66 230.7 OHD Completed Reported
RAS MDD330 1318094 5017189 728.1 263.8 -60 218.7 OHD Completed Reported
RAS MDD332 1318080 5017210 722.6 266.8 -61 230 OHD Completed Reported
RAS MDD334 1318035 5017212 731.8 268.4 -62 220.1 OHD Completed Reported

Appendix 3 - Assay Results
SampleDepthDepthIntervalAuAs ppmAuSampleDepthDepthIntervalAuAs ppmAu
IDFrom (m)To (m)(m)g/t(pXRF)MethodIDFrom (m)To (m)(m)g/t(pXRF)Method
MDD326MG5088616216310.01Au_FAA505_ppm_AMDD160MG28906174.21750.83.2111,638Au_FAA50V10_ppm_A
MDD326MG508871631641-0.01Au_FAA505_ppm_AMDD160MG2890717517610.554,217Au_FAA50V10_ppm_A
MDD326MG50888164164.40.40.07Au_FAA505_ppm_AMDD160MG2890817617711.613,856Au_FAA50V10_ppm_A
MDD326MG50889164.41650.63.83Au_FAA505_ppm_AMDD160MG2890917717811.504,953Au_FAA50V10_ppm_A
MDD326MG50890165166114.0Au_FAA505_ppm_AMDD160MG2891017817915.133,635Au_FAA50V10_ppm_A
MDD326MG5089116616716.52Au_FAA505_ppm_AMDD160MG2891117918012.027,071Au_FAA50V10_ppm_A
MDD326MG5089216716810.66Au_FAA505_ppm_AMDD160MG2891218018115.593,908Au_FAA50V10_ppm_A
MDD326MG5089316816914.13Au_FAA505_ppm_AMDD160MG28913181182111.36,346Au_FAA50V10_ppm_A
MDD326MG5089416917010.29Au_FAA505_ppm_AMDD160MG2891418218311.246,896Au_FAA50V10_ppm_A
MDD326MG50895170171195.0Au_FAA505_ppm_AMDD160MG2891518318410.583,276Au_FAA50V10_ppm_A
MDD326MG5089617117212.60Au_FAA505_ppm_AMDD160MG2891618418511.183,980Au_FAA50V10_ppm_A
MDD326MG5089717217310.71Au_FAA505_ppm_AMDD160MG28917185186113.42,755Au_FAA50V10_ppm_A
MDD326MG5089817317417.29Au_FAA505_ppm_AMDD160MG2891918618712.361,948Au_FAA50V10_ppm_A
MDD326MG5089917417516.88Au_FAA505_ppm_AMDD160MG2892018718810.852,763Au_FAA50V10_ppm_A
MDD326MG5090017517612.28Au_FAA505_ppm_AMDD160MG2892118818911.8711,423Au_FAA50V10_ppm_A
MDD326MG5090117617718.65Au_FAA505_ppm_AMDD160MG2892218919014.535,010Au_FAA50V10_ppm_A
MDD326MG5090217717813.87Au_FAA505_ppm_AMDD160MG2892619019113.966,427Au_FAA50V10_ppm_A
MDD326MG50906178179118.2Au_FAA505_ppm_AMDD160MG28927191192119.37,048Au_FAA50V10_ppm_A
MDD326MG5090717918017.59Au_FAA505_ppm_AMDD160MG2892919219311.256,475Au_FAA50V10_ppm_A
MDD326MG5090818018112.88Au_FAA505_ppm_AMDD160MG2893019319410.573,680Au_FAA50V10_ppm_A
MDD326MG5090918118212.79Au_FAA505_ppm_AMDD160MG2893119419513.124,820Au_FAA50V10_ppm_A
MDD326MG50910182183167.6Au_FAA505_ppm_AMDD160MG2893219519614.647,007Au_FAA50V10_ppm_A
MDD326MG50911183184111.0Au_FAA505_ppm_AMDD160MG2893319619710.373,556Au_FAA50V10_ppm_A
MDD326MG5091218418513.55Au_FAA505_ppm_AMDD160MG2893419719810.843,890Au_FAA50V10_ppm_A
MDD326MG50913185186151.0Au_FAA505_ppm_AMDD160MG2893519819910.645,750Au_FAA50V10_ppm_A
MDD326MG5091518618710.10Au_FAA505_ppm_AMDD160MG2893619920010.242,868Au_FAA50V10_ppm_A
MDD326MG5091618718812.19Au_FAA505_ppm_AMDD160MG2893720020110.583,117Au_FAA50V10_ppm_A
MDD326MG5091718818910.11Au_FAA505_ppm_AMDD160MG2893820120210.733,470Au_FAA50V10_ppm_A
MDD326MG50918189190113.2Au_FAA505_ppm_AMDD160MG2893920220310.272,817Au_FAA50V10_ppm_A
MDD326MG5091919019111.20Au_FAA505_ppm_AMDD160MG2894020320410.322,907Au_FAA50V10_ppm_A
MDD326MG5092019119210.61Au_FAA505_ppm_AMDD160MG2894120420510.755,146Au_FAA50V10_ppm_A
MDD326MG5092119219310.16Au_FAA505_ppm_AMDD160MG2894220520610.281,302Au_FAA50V10_ppm_A
MDD326MG5092219319410.21Au_FAA505_ppm_AMDD160MG2894320620710.39886Au_FAA50V10_ppm_A
MDD326MG5092319419510.27Au_FAA505_ppm_AMDD160MG2894420720810.27159Au_FAA50V10_ppm_A
MDD326MG5092719519611.66Au_FAA505_ppm_AMDD160MG2894520820912.807,352Au_FAA50V10_ppm_A
MDD326MG5092919619710.24Au_FAA505_ppm_AMDD160MG2894620921010.121,673Au_FAA50V10_ppm_A
MDD326MG5093019719810.59Au_FAA505_ppm_AMDD160MG2895021021110.274,202Au_FAA50V10_ppm_A
MDD326MG5093119819910.25Au_FAA505_ppm_AMDD160MG2895121121210.746,654Au_FAA50V10_ppm_A
MDD326MG5093219920010.04Au_FAA505_ppm_AMDD160MG2895221221310.272,593Au_FAA50V10_ppm_A
MDD326MG5093320020110.05Au_FAA505_ppm_AMDD160MG2895321321410.322,790Au_FAA50V10_ppm_A
MDD326MG5093420120214.77Au_FAA505_ppm_AMDD160MG2895421421513.615,334Au_FAA50V10_ppm_A
MDD326MG5093520220316.58Au_FAA505_ppm_AMDD160MG2895521521610.423,360Au_FAA50V10_ppm_A
MDD326MG5093620320410.16Au_FAA505_ppm_AMDD160MG2895621621712.994,501Au_FAA50V10_ppm_A
MDD326MG5093720420510.02Au_FAA505_ppm_AMDD160MG2895721721811.592,006Au_FAA50V10_ppm_A
MDD326MG5093820520616.13Au_FAA505_ppm_AMDD160MG2895821821910.161,573Au_FAA50V10_ppm_A
MDD326MG5093920620710.05Au_FAA505_ppm_AMDD160MG2895921922010.426,426Au_FAA50V10_ppm_A
MDD326MG5094020720810.25Au_FAA505_ppm_AMDD160MG2896022022110.852,716Au_FAA50V10_ppm_A
MDD326MG5094120820910.08Au_FAA505_ppm_AMDD160MG2896122122217.591,359Au_FAA50V10_ppm_A
MDD326MG5094220921010.17Au_FAA505_ppm_AMDD160MG2896222222313.751,597Au_FAA50V10_ppm_A
MDD326MG5094321021110.88Au_FAA505_ppm_AMDD160MG2896322322414.041,377Au_FAA50V10_ppm_A
MDD326MG5094421121210.09Au_FAA505_ppm_AMDD160MG2896422422510.29966Au_FAA50V10_ppm_A
MDD326MG5094821221310.24Au_FAA505_ppm_AMDD160MG2896522522612.002,469Au_FAA50V10_ppm_A
MDD326MG5094921321410.03Au_FAA505_ppm_AMDD160MG2896622622711.072,722Au_FAA50V10_ppm_A
MDD326MG5095021421510.08Au_FAA505_ppm_AMDD160MG2896722722810.271,085Au_FAA50V10_ppm_A
MDD326MG5095121521610.09Au_FAA505_ppm_AMDD160MG2896822822910.04278Au_FAA50V10_ppm_A
MDD326MG5095221621710.09Au_FAA505_ppm_AMDD160MG2896922923010.0234Au_FAA50V10_ppm_A
MDD326MG5095321721810.08Au_FAA505_ppm_AMDD160MG2897323023110.0210Au_FAA50V10_ppm_A
MDD326MG5095421821910.09Au_FAA505_ppm_AMDD160MG2897423123210.0316Au_FAA50V10_ppm_A
MDD326MG5095521922010.18Au_FAA505_ppm_AMDD160MG2897523223310.0115Au_FAA50V10_ppm_A
MDD326MG5095622022110.31Au_FAA505_ppm_AMDD160MG2897623323410.0967Au_FAA50V10_ppm_A
MDD326MG5095722122211.19Au_FAA505_ppm_AMDD160MG2897723423510.33390Au_FAA50V10_ppm_A
MDD326MG5095822222310.18Au_FAA505_ppm_AMDD160MG2897823523610.201,665Au_FAA50V10_ppm_A
MDD326MG5095922322410.12Au_FAA505_ppm_AMDD160MG2897923623710.912,840Au_FAA50V10_ppm_A
MDD326MG5096022422510.02Au_FAA505_ppm_AMDD160MG2898023723810.222,906Au_FAA50V10_ppm_A
MDD326MG5096122522610.09Au_FAA505_ppm_AMDD160MG2898123823910.783,001Au_FAA50V10_ppm_A
MDD326MG5096222622710.22Au_FAA505_ppm_AMDD160MG2898223924017.091,847Au_FAA50V10_ppm_A
MDD326MG5096322722810.02Au_FAA505_ppm_AMDD160MG2898424024110.701,572Au_FAA50V10_ppm_A
MDD326MG5096422822910.05Au_FAA505_ppm_AMDD160MG2898524124213.631,265Au_FAA50V10_ppm_A
MDD326MG5096822923010.12Au_FAA505_ppm_AMDD160MG2898624224310.151,265Au_FAA50V10_ppm_A
MDD326MG509692302311-0.01Au_FAA505_ppm_AMDD160MG2898724324415.501,301Au_FAA50V10_ppm_A
MDD326MG509702312321-0.01Au_FAA505_ppm_AMDD160MG2898824424511.731,089Au_FAA50V10_ppm_A
MDD326MG5097123223310.02Au_FAA505_ppm_AMDD160MG2898924524613.751,870Au_FAA50V10_ppm_A
MDD326MG5097223323410.06Au_FAA505_ppm_AMDD160MG2899024624711.341,301Au_FAA50V10_ppm_A
MDD160MG2899124724811.25347Au_FAA50V10_ppm_A
SampleDepthDepthIntervalAuAs ppmAu
MDD160MG28992248249110.11,085Au_FAA50V10_ppm_A
IDFrom (m)To (m)(m)g/t(pXRF)Method
MDD160MG2899424925010.622,439Au_FAA50V10_ppm_A
MDD160MG289021711721-0.017Au_FAA50V10_ppm_AMDD160MG2899825025110.714,162Au_FAA50V10_ppm_A
MDD160MG289031721731-0.013Au_FAA50V10_ppm_AMDD160MG2900025125213.915,026Au_FAA50V10_ppm_A
MDD160MG28904173173.90.9-0.017Au_FAA50V10_ppm_AMDD160MG3219925225310.703,050Au_FAA50V10_ppm_A
MDD160MG28905173.9174.20.30.0572Au_FAA50V10_ppm_AMDD160MG3220025325410.291,041Au_FAA50V10_ppm_A
This includes updated assays from QAQC for previously announced holes shown in the cross sections, due to the assay method ranking with Photon > SFA > BLEG > 1000g pulp FA > 50g pulp FA.
Hole IDHole ID
Hole ID

SampleDepthDepthIntervalAuAs ppmAuSampleDepthDepthIntervalAuAs ppmAu
IDFrom (m)To (m)(m)g/t(pXRF)MethodIDFrom (m)To (m)(m)g/t(pXRF)Method
MDD160MG3220125425510.20704Au_FAA50V10_ppm_AMDD152MG3035521021110.03Au_FAA505_ppm_A
MDD160MG3220225525615.902,877Au_FAA50V10_ppm_AMDD152MG3035621121213.62Au_FAA505_ppm_A
MDD160MG3220325625715.894,033Au_FAA50V10_ppm_AMDD152MG3035721221310.15Au_FAA505_ppm_A
MDD160MG3220425725810.10512Au_FAA50V10_ppm_AMDD152MG3036121321410.23Au_FAA505_ppm_A
MDD160MG3220525825910.0141Au_FAA50V10_ppm_AMDD152MG3036221421510.30Au_FAA505_ppm_A
MDD160MG3220625926010.11863Au_FAA50V10_ppm_AMDD152MG3036321521610.02Au_FAA505_ppm_A
MDD160MG3220726026110.01184Au_FAA50V10_ppm_AMDD152MG3036421621710.45Au_FAA505_ppm_A
MDD160MG3220826126210.09482Au_FAA50V10_ppm_AMDD152MG3036521721810.02Au_FAA505_ppm_A
MDD160MG3220926226310.151,432Au_FAA50V10_ppm_AMDD152MG3036621821910.02Au_FAA505_ppm_A
MDD160MG3221026326410.04225Au_FAA50V10_ppm_AMDD152MG3036721922015.91Au_FAA505_ppm_A
MDD160MG3221126426510.08276Au_FAA50V10_ppm_AMDD152MG3036822022110.16Au_FAA505_ppm_A
MDD160MG3221226526610.03196Au_FAA50V10_ppm_AMDD152MG3036922122212.32Au_FAA505_ppm_A
MDD160MG3221326626710.05623Au_FAA50V10_ppm_AMDD152MG3037022222310.07Au_FAA505_ppm_A
MDD160MG322142672681-0.0132Au_FAA50V10_ppm_AMDD152MG303712232241-0.01Au_FAA505_ppm_A
MDD160MG3221526826910.02108Au_FAA50V10_ppm_AMDD152MG303722242251-0.01Au_FAA505_ppm_A
MDD160MG322162692701-0.018Au_FAA50V10_ppm_AMDD152MG303732252261-0.01Au_FAA505_ppm_A
MDD160MG322202702711-0.019Au_FAA50V10_ppm_AMDD152MG303742262271-0.01Au_FAA505_ppm_A
MDD160MG3222127127210.0888Au_FAA50V10_ppm_AMDD152MG303752272281-0.01Au_FAA505_ppm_A
MDD160MG3222227227310.0226Au_FAA50V10_ppm_AMDD152MG3037622822910.01Au_FAA505_ppm_A
MDD160MG3222327327410.0238Au_FAA50V10_ppm_AMDD152MG3037722923010.02Au_FAA505_ppm_A
MDD160MG322242742751-0.016Au_FAA50V10_ppm_AMDD152MG3037823023110.01Au_FAA505_ppm_A
MDD160MG3222527527610.0422Au_FAA50V10_ppm_AMDD152MG3037923123210.04Au_FAA505_ppm_A
MDD160MG3222627627710.31805Au_FAA50V10_ppm_AMDD152MG3038023223310.01Au_FAA505_ppm_A
MDD160MG3222727727810.458,443Au_FAA50V10_ppm_AMDD152MG3038423323410.01Au_FAA505_ppm_A
MDD160MG3222827827910.111,620Au_FAA50V10_ppm_AMDD152MG303852342351-0.01Au_FAA505_ppm_A
MDD160MG3222927928010.221,150Au_FAA50V10_ppm_AMDD152MG303862352361-0.01Au_FAA505_ppm_A
MDD160MG3223028028110.122,079Au_FAA50V10_ppm_AMDD152MG303872362371-0.01Au_FAA505_ppm_A
MDD160MG322312812821-0.01101Au_FAA50V10_ppm_AMDD152MG303882372381-0.01Au_FAA505_ppm_A
MDD160MG322322822831-0.0114Au_FAA50V10_ppm_AMDD152MG3038923823910.02Au_FAA505_ppm_A
MDD160MG322332832841-0.0118Au_FAA50V10_ppm_AMDD152MG303902392401-0.01Au_FAA505_ppm_A
MDD160MG322342842851-0.0118Au_FAA50V10_ppm_AMDD152MG3039124024110.02Au_FAA505_ppm_A
MDD160MG322352852861-0.016Au_FAA50V10_ppm_AMDD152MG303922412421-0.01Au_FAA505_ppm_A
MDD160MG322362862871-0.0110Au_FAA50V10_ppm_AMDD152MG3039324224311.65Au_FAA505_ppm_A
MDD160MG322372872881-0.019Au_FAA50V10_ppm_AMDD152MG3039424324410.02Au_FAA505_ppm_A
MDD160MG322382882891-0.017Au_FAA50V10_ppm_AMDD152MG303952442451-0.01Au_FAA505_ppm_A
MDD160MG322392892901-0.016Au_FAA50V10_ppm_AMDD152MG3039624524610.48Au_FAA505_ppm_A
MDD160MG322432902911-0.015Au_FAA50V10_ppm_AMDD152MG3039724624718.87Au_FAA505_ppm_A
MDD160MG322442912921-0.018Au_FAA50V10_ppm_AMDD152MG3039824724812.02Au_FAA505_ppm_A
MDD160MG322452922931-0.015Au_FAA50V10_ppm_AMDD152MG3039924824911.15Au_FAA505_ppm_A
MDD160MG322462932941-0.014Au_FAA50V10_ppm_AMDD152MG3040024925011.62Au_FAA505_ppm_A
MDD160MG322472942951-0.016Au_FAA50V10_ppm_AMDD152MG3040125025110.89Au_FAA505_ppm_A
MDD160MG322482952961-0.019Au_FAA50V10_ppm_AMDD152MG3040225125210.21Au_FAA505_ppm_A
MDD160MG322492962971-0.013Au_FAA50V10_ppm_AMDD152MG3040325225310.70Au_FAA505_ppm_A
MDD160MG322502972981-0.015Au_FAA50V10_ppm_AMDD152MG3040725325410.02Au_FAA505_ppm_A
MDD160MG322512982991-0.018Au_FAA50V10_ppm_AMDD152MG3040825425510.04Au_FAA505_ppm_A
MDD160MG3225229930010.0337Au_FAA50V10_ppm_AMDD152MG3040925525610.15Au_FAA505_ppm_A
MDD160MG3225330030110.0912Au_FAA50V10_ppm_AMDD152MG3041025625710.05Au_FAA505_ppm_A
MDD160MG322543013021-0.016Au_FAA50V10_ppm_AMDD152MG304112572581-0.01Au_FAA505_ppm_A
MDD160MG3225530230310.0343Au_FAA50V10_ppm_AMDD152MG304122582591-0.01Au_FAA505_ppm_A
MDD160MG322563033041-0.018Au_FAA50V10_ppm_AMDD152MG304132592601-0.01Au_FAA505_ppm_A
MDD160MG322573043051-0.0113Au_FAA50V10_ppm_AMDD152MG3041426026110.01Au_FAA505_ppm_A
MDD160MG3225830530610.0116Au_FAA50V10_ppm_AMDD152MG3041526126210.01Au_FAA505_ppm_A
MDD160MG322593063071-0.0112Au_FAA50V10_ppm_AMDD152MG304162622631-0.01Au_FAA505_ppm_A
MDD160MG322603073081-0.0117Au_FAA50V10_ppm_AMDD152MG3041726326410.02Au_FAA505_ppm_A
MDD160MG3226130830910.2466Au_FAA50V10_ppm_AMDD152MG3041826426510.04Au_FAA505_ppm_A
MDD160MG3226230931010.091,242Au_FAA50V10_ppm_AMDD152MG3041926526610.03Au_FAA505_ppm_A
MDD160MG3226631031110.151,335Au_FAA50V10_ppm_AMDD152MG3042026626710.01Au_FAA505_ppm_A
MDD160MG322673113121-0.0149Au_FAA50V10_ppm_AMDD152MG3042126726810.01Au_FAA505_ppm_A
MDD160MG322683123131-0.0112Au_FAA50V10_ppm_AMDD152MG3042226826910.04Au_FAA505_ppm_A
MDD160MG322693133141-0.017Au_FAA50V10_ppm_AMDD152MG304232692701-0.01Au_FAA505_ppm_A
MDD160MG322703143151-0.0112Au_FAA50V10_ppm_AMDD152MG3042427027110.01Au_FAA505_ppm_A
MDD160MG322713153161-0.018Au_FAA50V10_ppm_AMDD152MG3042527127210.01Au_FAA505_ppm_A
MDD160MG322723163171-0.0144Au_FAA50V10_ppm_AMDD152MG30426272272.90.90.01Au_FAA505_ppm_A
MDD160MG32273317317.90.9-0.019Au_FAA50V10_ppm_A
SampleDepthDepthIntervalAuAs ppmAu
SampleDepthDepthIntervalAuAs ppmAuIDFrom (m)To (m)(m)g/t(pXRF)Method
IDFrom (m)To (m)(m)g/t(pXRF)Method
MDD148MG229391521531-0.01Au_FAA505_ppm_A
MDD152MG303381931941-0.01Au_FAA505_ppm_AMDD148MG229401531541-0.01Au_FAA505_ppm_A
MDD152MG303391941951-0.01Au_FAA505_ppm_AMDD148MG22941154154.650.65-0.01Au_FAA505_ppm_A
MDD152MG30340195195.40.4-0.01Au_FAA505_ppm_AMDD148MG22942154.65154.90.250.03Au_FAA505_ppm_A
MDD152MG30341195.4196.410.01Au_FAA505_ppm_AMDD148MG22943154.91561.10.68Au_FAA505_ppm_A
MDD152MG30342196.41981.60.38Au_FAA505_ppm_AMDD148MG2294415615710.20Au_FAA505_ppm_A
MDD152MG3034319819910.18Au_FAA505_ppm_AMDD148MG2294515715810.43Au_FAA505_ppm_A
MDD152MG3034419920013.04Au_FAA505_ppm_AMDD148MG2294615815913.33Au_FAA505_ppm_A
MDD152MG3034520020110.07Au_FAA505_ppm_AMDD148MG2294715916011.57Au_FAA505_ppm_A
MDD152MG3034620120216.84Au_FAA505_ppm_AMDD148MG2294816016110.81Au_FAA505_ppm_A
MDD152MG3034720220310.19Au_FAA505_ppm_AMDD148MG2294916116210.38Au_FAA505_ppm_A
MDD152MG3034820320410.06Au_FAA505_ppm_AMDD148MG2295016216310.61Au_FAA505_ppm_A
MDD152MG303492042051-0.01Au_FAA505_ppm_AMDD148MG2295116316410.40Au_FAA505_ppm_A
MDD152MG3035020520610.03Au_FAA505_ppm_AMDD148MG2295216416510.65Au_FAA505_ppm_A
MDD152MG3035120620710.28Au_FAA505_ppm_AMDD148MG2295316516610.02Au_FAA505_ppm_A
MDD152MG3035220720810.11Au_FAA505_ppm_AMDD148MG2295416616710.39Au_FAA505_ppm_A
MDD152MG3035320820910.48Au_FAA505_ppm_AMDD148MG2295516716810.34Au_FAA505_ppm_A
MDD152MG3035420921010.22Au_FAA505_ppm_AMDD148MG2295616816910.17Au_FAA505_ppm_A
Hole ID
Hole ID
Hole IDHole ID

SampleDepthDepthIntervalAuAs ppmAuSampleDepthDepthIntervalAuAs ppmAu
IDFrom (m)To (m)(m)g/t(pXRF)MethodIDFrom (m)To (m)(m)g/t(pXRF)Method
MDD148MG2295716917010.24Au_FAA505_ppm_AMDD148MG2996225325410.44Au_FAA505_ppm_A
MDD148MG2295817017110.17Au_FAA505_ppm_AMDD148MG2996325425510.08Au_FAA505_ppm_A
MDD148MG2296217117210.02Au_FAA505_ppm_AMDD148MG2996425525610.07Au_FAA505_ppm_A
MDD148MG2296317217310.80Au_FAA505_ppm_AMDD148MG2996525625710.02Au_FAA505_ppm_A
MDD148MG2296417317410.02Au_FAA505_ppm_AMDD148MG2996625725810.36Au_FAA505_ppm_A
MDD148MG229651741751-0.01Au_FAA505_ppm_AMDD148MG2996725825910.02Au_FAA505_ppm_A
MDD148MG2296617517610.11Au_FAA505_ppm_AMDD148MG2996825926010.45Au_FAA505_ppm_A
MDD148MG2296717617710.29Au_FAA505_ppm_AMDD148MG2996926026110.14Au_FAA505_ppm_A
MDD148MG2296817717811.64Au_FAA505_ppm_AMDD148MG2997026126210.65Au_FAA505_ppm_A
MDD148MG2296917817910.11Au_FAA505_ppm_AMDD148MG299712622631-0.01Au_FAA505_ppm_A
MDD148MG2297017918010.11Au_FAA505_ppm_AMDD148MG2997226326410.01Au_FAA505_ppm_A
MDD148MG2297118018110.04Au_FAA505_ppm_AMDD148MG2997326426510.09Au_FAA505_ppm_A
MDD148MG2297218118210.03Au_FAA505_ppm_AMDD148MG2997426526610.08Au_FAA505_ppm_A
MDD148MG2297318218310.03Au_FAA505_ppm_AMDD148MG2997526626710.18Au_FAA505_ppm_A
MDD148MG2297418318410.04Au_FAA505_ppm_AMDD148MG2997626726810.02Au_FAA505_ppm_A
MDD148MG2297518418510.13Au_FAA505_ppm_AMDD148MG2997726826910.02Au_FAA505_ppm_A
MDD148MG2297618518610.77Au_FAA505_ppm_AMDD148MG2997826927010.02Au_FAA505_ppm_A
MDD148MG2297718618711.62Au_FAA505_ppm_AMDD148MG2997927027110.39Au_FAA505_ppm_A
MDD148MG2297818718810.12Au_FAA505_ppm_AMDD148MG2998327127210.98Au_FAA505_ppm_A
MDD148MG2297918818910.03Au_FAA505_ppm_AMDD148MG2998427227310.44Au_FAA505_ppm_A
MDD148MG2298018919010.10Au_FAA505_ppm_AMDD148MG2998527327410.02Au_FAA505_ppm_A
MDD148MG2298119019113.59Au_FAA505_ppm_AMDD148MG2998627427510.01Au_FAA505_ppm_A
MDD148MG2298519119210.05Au_FAA505_ppm_AMDD148MG2998727527610.04Au_FAA505_ppm_A
MDD148MG2298619219310.05Au_FAA505_ppm_AMDD148MG2998827627710.07Au_FAA505_ppm_A
MDD148MG2298719319410.19Au_FAA505_ppm_AMDD148MG2998927727810.52Au_FAA505_ppm_A
MDD148MG2298819419510.80Au_FAA505_ppm_AMDD148MG2999027827917.18Au_FAA505_ppm_A
MDD148MG2298919519610.07Au_FAA505_ppm_AMDD148MG2999127928010.25Au_FAA505_ppm_A
MDD148MG2299019619710.16Au_FAA505_ppm_AMDD148MG2999228028110.6Au_FAA505_ppm_A
MDD148MG229911971981-0.01Au_FAA505_ppm_AMDD148MG2999328128210.19Au_FAA505_ppm_A
MDD148MG229921981991-0.01Au_FAA505_ppm_AMDD148MG2999428228310.15Au_FAA505_ppm_A
MDD148MG2299319920010.01Au_FAA505_ppm_AMDD148MG2999528328410.59Au_FAA505_ppm_A
MDD148MG2299420020110.05Au_FAA505_ppm_AMDD148MG2999628428510.2Au_FAA505_ppm_A
MDD148MG2299520120210.03Au_FAA505_ppm_AMDD148MG2999728528610.1Au_FAA505_ppm_A
MDD148MG2299620220310.20Au_FAA505_ppm_AMDD148MG2999828628710.39Au_FAA505_ppm_A
MDD148MG2299720320410.05Au_FAA505_ppm_AMDD148MG2999928728810.12Au_FAA505_ppm_A
MDD148MG2299820420510.05Au_FAA505_ppm_AMDD148MG3000028828910.21Au_FAA505_ppm_A
MDD148MG2299920520610.21Au_FAA505_ppm_AMDD148MG3000128929010.13Au_FAA505_ppm_A
MDD148MG2300020620712.12Au_FAA505_ppm_AMDD148MG3000229029110.11Au_FAA505_ppm_A
MDD148MG2990620720810.02Au_FAA505_ppm_AMDD148MG3000629129210.11Au_FAA505_ppm_A
MDD148MG2990720820910.40Au_FAA505_ppm_AMDD148MG3000729229311.46Au_FAA505_ppm_A
MDD148MG2990820921010.83Au_FAA505_ppm_AMDD148MG3000829329410.96Au_FAA505_ppm_A
MDD148MG2990921021110.09Au_FAA505_ppm_AMDD148MG3000929429510.05Au_FAA505_ppm_A
MDD148MG2991321121210.35Au_FAA505_ppm_AMDD148MG3001029529610.1Au_FAA505_ppm_A
MDD148MG2991421221310.14Au_FAA505_ppm_AMDD148MG3001129629710.17Au_FAA505_ppm_A
MDD148MG2991521321410.13Au_FAA505_ppm_AMDD148MG3001229729810.18Au_FAA505_ppm_A
MDD148MG2991621421510.51Au_FAA505_ppm_AMDD148MG3001329829910.73Au_FAA505_ppm_A
MDD148MG2991721521610.53Au_FAA505_ppm_AMDD148MG3001429930010.12Au_FAA505_ppm_A
MDD148MG2991821621710.59Au_FAA505_ppm_AMDD148MG3001530030110.08Au_FAA505_ppm_A
MDD148MG2991921721810.96Au_FAA505_ppm_AMDD148MG3001630130210.67Au_FAA505_ppm_A
MDD148MG2992021821913.32Au_FAA505_ppm_AMDD148MG3001730230310.17Au_FAA505_ppm_A
MDD148MG2992121922010.50Au_FAA505_ppm_AMDD148MG3001830330410.24Au_FAA505_ppm_A
MDD148MG2992222022110.19Au_FAA505_ppm_AMDD148MG3001930430510.01Au_FAA505_ppm_A
MDD148MG2992322122210.03Au_FAA505_ppm_AMDD148MG300203053061-0.01Au_FAA505_ppm_A
MDD148MG2992422222310.02Au_FAA505_ppm_AMDD148MG300213063071-0.01Au_FAA505_ppm_A
MDD148MG2992522322410.32Au_FAA505_ppm_AMDD148MG300223073081-0.01Au_FAA505_ppm_A
MDD148MG2992622422510.02Au_FAA505_ppm_AMDD148MG3002330830910.02Au_FAA505_ppm_A
MDD148MG2992722522612.15Au_FAA505_ppm_AMDD148MG3002430931010.06Au_FAA505_ppm_A
MDD148MG29928226227117.00Au_FAA505_ppm_AMDD148MG3002531031110.13Au_FAA505_ppm_A
MDD148MG2993022722810.47Au_FAA505_ppm_AMDD148MG3002931131210.26Au_FAA505_ppm_A
MDD148MG2993122822910.01Au_FAA505_ppm_AMDD148MG3003031231310.38Au_FAA505_ppm_A
MDD148MG2993222923010.10Au_FAA505_ppm_AMDD148MG3003131331410.64Au_FAA505_ppm_A
MDD148MG2993323023110.16Au_FAA505_ppm_AMDD148MG3003231431510.77Au_FAA505_ppm_A
MDD148MG2993723123210.14Au_FAA505_ppm_AMDD148MG3003331531610.22Au_FAA505_ppm_A
MDD148MG2993823223310.03Au_FAA505_ppm_AMDD148MG3003431631711.04Au_FAA505_ppm_A
MDD148MG2993923323410.32Au_FAA505_ppm_AMDD148MG3003531731810.13Au_FAA505_ppm_A
MDD148MG299402342351-0.01Au_FAA505_ppm_AMDD148MG3003631831910.34Au_FAA505_ppm_A
MDD148MG2994123523610.18Au_FAA505_ppm_AMDD148MG3003731932010.35Au_FAA505_ppm_A
MDD148MG2994223623710.02Au_FAA505_ppm_AMDD148MG3003832032110.05Au_FAA505_ppm_A
MDD148MG2994323723810.01Au_FAA505_ppm_AMDD148MG3003932132210.06Au_FAA505_ppm_A
MDD148MG2994423823910.05Au_FAA505_ppm_AMDD148MG3004032232310.06Au_FAA505_ppm_A
MDD148MG2994523924010.33Au_FAA505_ppm_AMDD148MG3004132332410.01Au_FAA505_ppm_A
MDD148MG2994624024110.25Au_FAA505_ppm_AMDD148MG3004232432510.21Au_FAA505_ppm_A
MDD148MG2994724124210.11Au_FAA505_ppm_AMDD148MG3004332532610.44Au_FAA505_ppm_A
MDD148MG2994824224310.04Au_FAA505_ppm_AMDD148MG3004432632710.05Au_FAA505_ppm_A
MDD148MG2994924324410.03Au_FAA505_ppm_AMDD148MG3004532732810.02Au_FAA505_ppm_A
MDD148MG2995024424510.15Au_FAA505_ppm_AMDD148MG3004632832910.04Au_FAA505_ppm_A
MDD148MG2995124524610.04Au_FAA505_ppm_AMDD148MG3004732933010.02Au_FAA505_ppm_A
MDD148MG2995224624712.72Au_FAA505_ppm_AMDD148MG3004833033110.05Au_FAA505_ppm_A
MDD148MG2995324724810.27Au_FAA505_ppm_AMDD148MG3005233133210.01Au_FAA505_ppm_A
MDD148MG2995424824910.08Au_FAA505_ppm_AMDD148MG300533323331-0.01Au_FAA505_ppm_A
MDD148MG2995524925010.17Au_FAA505_ppm_AMDD148MG300543333341-0.01Au_FAA505_ppm_A
MDD148MG2995625025110.52Au_FAA505_ppm_AMDD148MG3005533433510.02Au_FAA505_ppm_A
MDD148MG2996025125210.01Au_FAA505_ppm_AMDD148MG3005633533614.17Au_FAA505_ppm_A
MDD148MG2996125225310.01Au_FAA505_ppm_AMDD148MG30057336337.11.1-0.01Au_FAA505_ppm_A
Hole IDHole ID

JORC Code, 2012 Edition – Table 1
Section 1 Sampling Techniques and Data

Criteria JORC Code explanation
Commentary
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 (eg ‘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 (eg submarine nodules)
may warrant disclosure of detailed information.
This Mineral Resource Estimate (MRE) is estimated from drilling samples collected by reverse circulation
and diamond drilling. ‘Blasthole’, surface trench and underground channel samples were used as an aid
for geological interpretation and domaining but not for grade estimation.
Diamond drill (DD) core samples for laboratory assay are typically 1 metre samples of diamond saw cut ½
diameter core. In the rare cases where the core was friable or unconsolidated the sample was collected
from one side of the core using a scoop. Where distinct mineralisation boundaries are logged, sample
lengths are adjusted to the respective geological contact. RC samples were sub-sampled at 1.0 m intervals
using a rotary splitter mounted below the cyclone. The splitter produced 2 x 30% splits and 1 x 40% split.
The two 30% splits were used as primary sample and field duplicate (if submitted) with the 40% split used
for logging and then stored at the MGL core yard.
Samples are crushed at the receiving laboratory to minus 2mm (85% passing) and split using a rotary
splitter to provide 1kg for pulverising in a ring mill to -75um. Pulps are fire assayed (FAA) using a 50g charge
with AAS finish. Prior to 2019 only 200g of the crushed material was pulverised. 877 samples were assayed
this way.
Certified standards, blanks and field replicates are inserted with the original batches at a frequency of ~5%
each for QAQC purposes.
All pulps and crush reject (CREJ) are returned from the laboratory to MGL for storage on site. Of these
returned samples, a further ~5% are re-submitted as QC check samples which involve pulp FAA re-assays
by the original and an umpire laboratory and CREJ re-assayed by 500-gram (+ & -75mu) screen fire assay
(SFA), 1kg BLEG (LeachWELL) and 2*500-gram Photon analysis (PHA) for gold.
Where multiple assays exist for a single sample interval, larger samples are ranked in the database: PHA >
BLEG > SFA > FAA.
All returned pulps are analysed for a suite of 31 elements by portable XRF (pXRF).
The sampling, sub-sampling and assaying methods are appropriate to the geology and mineralization of
the RAS deposit.

Criteria JORC Code explanation Commentary
Drilling techniques
Drill type (eg core, reverse circulation, open-hole
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).
Current drilling techniques are diamond coring (DD) PQ3 and HQ3 size triple tube. Where PQ3
core size (83mm diameter) is commenced this is maintained throughout the DD hole until
drilling conditions dictate reduction in size to HQ3 core (61mm diameter). DD pre-collars are
drilled open hole through un-mineralised TZ3 schist to within about 15 m of the mineralisation
hangingwall at which point diamond coring commences.
RC drilling is only carried out where the mineralisation target is less than about 150m downhole
and used a face sample bit with sample collected in a cyclone mounted over a rotary splitter
producing 2 x 30% splits and 1 x 40% split. The two 30% splits were used as primary sample and
field duplicate (if submitted) with the 40% split used for logging and then stored at the MGL
core yard.
Drillholes are oriented to intersect known mineralised features in a nominally perpendicular
orientation as much as is practicable.
All drill core is oriented to assist with interpretation of mineralisation and structure using a Trucore
orientation tool.

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.
DD core sample recoveries are recorded by the drillers at the time of drilling by measuring the
actual distance of the drill run against the actual core recovered. The measurements are
checked by the site geologist.
When poor core recoveries are recorded the site geologist and driller endeavour to immediately
rectify any problems to maintain maximum core recoveries.DD core logging to date indicate
~96% recoveries.
RC sample recovery is measured as sample weight recovered. RC sample moisture for all RC
drilling data was logged as dry (83.7% of RC samples), moist (12.0%) or wet (4.3%). All samples
logged as wet were omitted from use in this MRE.
The drilling contract used states for any given run, a level of recovery is required otherwise
financial penalties are applied to the drill contractor to ensure sample recovery priority along
with production performance.
Sample grades were plotted against drilling recovery by drilling method and no relationship was
established.
Wet RC samples do show higher grades than dry RC samples. This may be due to wet RC samples
coming from higher grade zones or sampling bias due to the loss of fines in wet samples.
Whatever the cause, this bias was the reason that wet RC samples were omitted from use in

this MRE.

Criteria JORC Code explanation
Commentary
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.
All DD holes have been logged for their entire sampled length below upper open hole drilling
(nominally 0-450 metres below collar). Data is recorded directly into AcQuire database with
sufficient detail that supports Mineral Resource estimations (MRE).
Logging is mostly qualitative but there are estimations of quartz and sulphide content and
quantitative records of geological / structural unit, oxidation state and water table boundaries.
Oriented DD core allows alpha / beta measurements to determine structural element detail
(dip / dip direction) to supplement routine recording of lithologies / alteration / mineralisation
/ structure / oxidation / colour and other features for MRE reporting, geotechnical and
metallurgical studies.
All RC chips were sieved and logged for lithology, colour, oxidation, weathering, vein
percentage and sulphide minerals.
All core is photographed wet and dry before cutting. Sieved RC chips are also photographed.
100% of all relevant (within the gold grade domains) intersections were logged. The logging is
of sufficient quality and detail for resource estimation.

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
Industry standard laboratory sample preparation methods are suitable for the mineralisation
style and involve oven drying, crushing and splitting of samples to 1kg for pulverising to -75um.
Pulps are fire assayed (FAA) using a 50g charge.
50g charge is considered minimum requirement for the coarse nature of the gold. Larger screen
fire assays (SFA), 1kg BLEG (LeachWELL) and 2*500gm Photon Analyses (PHA) are conducted
periodically as a QAQC check.
Field duplicates of RC samples are sub-sampled by a splitter as described above at the time of
sampling.
Large diameter (83mm) PQ3 core was maintained (where conditions allow) for DD holes to
MDD016 and subsequently HQ3 (61mm) for drillholes MDD017 onwards.
DD core drill samples are sawn in ½ along the length of the core on cut lines marked by
geologists’ perpendicular to structure / foliation or to bisect vein mineralisation for
representative samples whilst preserving the orientation line. Intervals required for QAQC

Criteria JORC Code explanation
Commentary
of the material being sampled. checks are nominated by geologists and the crushed sample being split by the laboratory with
the two replicated samples then assayed.
QA procedures used to maximise the representivity of sub-samples include the use of a cone
splitter on the RC rig and cutting DD core perpendicular to the regional foliation. QC procedures
to assess the representivity of sub-sampling include field replicates, standards, and blanks at a
frequency of ~5% and also cross-lab assay checks at an umpire laboratory.
The mass proportion of every 10th sample passing 75um is reported by the laboratory and
monitored to ensure sample preparation quality.
Calculations based on Pitard (1993) show that sub-sample masses are appropriate to gold
particle size and grade, if the size and shape of the gold particles are reduced in the ring mill in
a similar way to the gangue particles.

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 (ie
lack of bias) and precision have been established.
SFA and PHA are all total gold assays and are appropriate to the RSSZ mineralization. DD core
and RC chip samples for gold assays undergo sample preparation by SGS laboratory Westport
and 50g fire assay with an AAS finish (SGS method FAA505 DDL 0.01ppm Au or FAD505 DDL
1ppm Au & FAD52V DDL 500ppm Au) by SGS laboratory Waihi. Other SGS laboratories at
Macraes and Townsville and the ALS laboratory in Townsville, are used from time to time and
follow the same processes. For laboratory QAQC, samples (3*certified standards, blanks and
field replicates) are inserted into laboratory batches at a frequency of ~5% respectively. A
selection of 5% of retained lab pulps across a range of grades are sent for re-assay and to an
umpire laboratory for cross-lab check assays.
Portable XRF (pXRF) instrumentation is used onsite (Olympus Innov-X Delta Professional Series
model DPO-4000 equipped with a 4 W 40kV X-Ray tube) primarily to identify arsenical samples
(arsenic correlates well with gold grade in these orogenic deposits). The pXRF analyses a 31-
element suite (Ag, As, Bi, Ca, Cd, Cl, Co, Cr, Cu, Fe, Hg, K, Mn, Mo, Nb, Ni, P, Pb, Rb, S, Sb, Se, Sn,
Sr, Th, Ti, V, W, Y, Zn, Zr) utilising 3 beam Soil mode, each beam set for 30 secs (90 secs total).
pXRF QAQC checks involve regular calibration (every 20 samples) and QAQC analyses of SiO2
blank, NIST standards (NIST 2710a & NIST 2711a), & OREAS standards. pXRF QAQC checks
involve regular calibration (every 20 samples) and QAQC analyses of SiO2 blank, NIST standards
(NIST 2710a & NIST 2711a), & OREAS standards.
No geophysical tools have been used in this MRE.

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.
Significant gold assays and pXRF arsenic analyses are checked by alternative senior company
personnel. Original lab assays are initially reported and where replicate assays and other QAQC
work require re-assay or screen fire assays, the larger sample results are adopted. To date
results are accurate and fit well with the mineralisation model.
Twinned data is available where DD core holes have been sited adjacent to previous RC
drillholes and where DD redrills have occurred.
pXRF multi-element analyses are directly downloaded from the pXRF analyser as csv electronic
files. These and laboratory assay csv files are imported into the database, appended and merged
with previous data.
Since October 2022 all logging has been directly entered into the Acquire database using tablets.
All collar surveys, downhole surveys and assay results are provided digitally and directly
imported into the database. On import into the database validation checks are made for:
interval overlaps, gaps, duplicate holes, duplicate samples and out of range values. The AcQuire
database is stored on a cloud server and is regularly backed up, updated and verified by an
independent qualified person.
The only adjustment made to the data on import to the database is to convert below detection
results to negative the detection limit. Samples with multiple Au results are ranked by assay
method (SFA > FA > other) and on export only the highest ranked method is exported. Prior to
import into Minesight software the data is further validated as above plus checks on the highest
and lowest values. Negative below detection results are converted to half the detection limit
on import into Minesight.

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 drillhole collar locations are accurate (+/- 50mm) xyz coordinates when captured by an
experienced surveyor using RTK-GPS equipment.
All drill holes reference the NZGD2000 NZTM map projection and collar RLs the NZVD2016 vertical
datum.
DD down hole surveys are recorded continuously with a Precision Mining and Drilling “North-
seeking” Gyro downhole survey tool. RC holes are surveyed at 12m intervals using a Reflex
multi-shot camera.
There are very minor historical adits and shafts at RAS. No surveys of these voids exist, although
at least one adit is still accessible. Historical production records total 630.5 tons of ore crushed.

Such small volumes are not material to this MRE.
Topographic control is provided by LiDAR topographic surveys in 2018 and 2021 covering the
entire project area. These are very accurate and suitable for resource estimation.

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.
Drill collar site locations in steep terrain are dictated by best access allowed by contour tracks
with gradients to allow safe working access and drill pad excavations. Drillhole designs take into
account this variation to achieve evenly spaced intercepts at the hangingwall of the
mineralisation.
Drillhole intersection spacing on the hangingwall of the mineralisation is typically 30 m (EW) by
30 m (NS) but varies from 20 m (EW) by 20 m (NS) in closely spaced areas to 120 m (EW) by 100
m (NS) in widely spaced (inferred) areas. This spacing is considered appropriate for determination
of geological and grade continuity at the mineral resource categories reported.
Some of the RC drilling was sampled as 4m composites and later re-sampled if the composite
result exceeded a threshold. There are no composited samples within the gold grade estimation
domains and so no composited samples were used in this MRE.
Sampling and assaying are in one metre intervals or truncated to logged features.

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.

Drillholes are oriented to intersect known mineralised features in a nominally perpendicular
orientation as much as is practicable. True widths are estimated perpendicular to mineralisation
boundaries where these limits are known. As the deposits are tabular and lie at low angles,
there is not anticipated to be any introduced bias for resource estimates.
Sample security
The measures taken to ensure sample security.
Company personnel manage the chain of custody from sampling site to laboratory.
DD drill core samples are transported daily from DD rig by the drilling contractor in numbered
core boxes to the Company secure storage facility for logging and sample preparation. After
core cutting, the core for assay is bagged, securely tied, and weighed before being placed in
polyweave bags which are securely tied. Retained core is stored on racks in secure locked
containers. RC samples are also place in polyweave bags and secured with zip ties.

Polyweave bags with the calico bagged samples for assay are placed in plastic cage pallets,
sealed with a wire-tied cover, photographed, and transported to local freight distributer for
delivery to the laboratory. On arrival at the laboratory photographs taken of the consignment
are checked against despatch condition to ensure no tampering has occurred.

Audits or reviews
The results of any audits or reviews of sampling
techniques and data.
An independent Competent Person (CP) conducted a site audit in January 2021 and December
2022 of all sampling techniques and data management. No major issues were identified, and
recommendations have been followed.
In February 2023 Snowdon Optiro completed a desktop review of the assay methods and QC
sample results and in its report concluded that the sampling and assaying methods are in line
with standard industry procedures and that that the assay data in the supplied database is
suitable to be used as the basis for a Mineral Resource.


Section 2 Reporting of Exploration Results

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.
Exploration is being currently conducted within Mineral Exploration Permit (MEP) 60311 (252km²)
registered to Matakanui Gold Ltd (MGL) issued on 13
th
April 2018 for 5 years. In 2023 the term
of this permit was extended for a further 5 years until 12 April 2028.
There are no material issues with third parties.
MGL was granted Minerals Prospecting Permit (MPP) 60882 (40km²) on 30 Nov 2023 for a term
of 2 years.
The tenure of the Permits is secure and there are no known impediments to obtaining a licence
to operate.
As gold is a Crown mineral, a royalty is payable to the Crown as either the higher of an ad
valorem royalty of 2% of the net sales revenue or an accounting profits royalty of 10%.
The Project is subject to a 1.5% Net Smelter Royalty (NSR) on all production from MEP 60311
(and successor permits) payable to an incorporated, private company (Rise and Shine Holdings
Limited) which is owned by the prior shareholders of MGL (NSRW Agreement) before
acquisition of 100% of MGL shares by Santana Minerals Limited.

Criteria JORC Code explanation
Commentary
Access arrangements are in place with landowners that provide for current exploration and
other activities, and any future decision to mine. As such, compensation is payable, including
payments of up to $1.5M on a decision to mine, plus total royalties starting at 1% on the net
value of gold produced, increasing to 1.5% and ultimately 2% dependent on location and total
gold produced over the life of the mine. The royalties are also subject to pre-payment of up to
$3M upon commencement of mining operations.

Exploration done by other
parties
• Acknowledgment and appraisal of
exploration by other parties.
Early exploration in the late 1800’s and early 1900’s included small pits,
adits and cross-cuts and alluvial mining.
Exploration has included soil and rock chip sampling by numerous companies since 1983 with
drilling starting in 1986. Exploration in the 1990’s commenced with a search for Macraes style
gold deposits along the RSSZ. Drilling included 13 RC holes by Homestake NZ Exploration Ltd in
1986, 20 RC holes by BHP Gold Mines NZ Ltd in 1988 (10 of these holes were in the Bendigo
Reefs area which is not part of the MRE area), 5 RC holes by Macraes Mining Company Ltd in
1991, 22 shallow (probably blasthole) holes by Aurum Reef Resources (NZ) Ltd in 1996, 30 RC
holes by CanAlaska Ventures Ltd from 2005-2007, 35 RC holes by MGL in 2018 and a further 18
RC holes by MGL in 2019.

Geology
• Deposit type, geological setting and style of
mineralisation.
The RSSZ is a low-angle late-metamorphic shear-zone, presently known to be up to 120m thick.
It is sub-parallel to the metamorphic foliation and dips gently to the north- east. It occurs within
psammitic, pelitic and meta-volcanic rocks.
The hangingwall of the RSSZ is truncated by the post metamorphic and post mineralisation
Thomsons Gorge Fault (TGF). The TGF is a regional low-angle fault that separates upper barren
chlorite (TZ3) schist from underlying mineralised biotite (TZ4) schists.
Gold mineralisation is occurs in the RSSZ as 4 known deposits with Mineral Resource Estimates
(MRE) – Come-in-Time (CIT), Rise and Shine (RAS), Shreks (SHR) and Shreks-East (SRE). The gold
and associated pyrite/arsenopyrite mineralisation at all deposits occur along micro-shears, and
in brecciated / laminar quartz veinlets within the highly- sheared schist. There are several
controls on mineralisation with apparent NNW, N and NNE trending structures all influencing
gold distribution. S h e a r d o m i n a t e d mineralisation within the top 20-40m of the shear zone
immediately below the Thomsons Gorge Fault (TGF). Stacked stockwork vein swarms (SVS)

Criteria JORC Code explanation
Commentary
occur deeper in the RSSZ.
Unlike Macraes, the gold mineralisation in the oxide, transition and fresh zones is characterised
by coarse free gold.

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.

Refer to the body of text.
No material information has been excluded.
Data aggregation
methods
• In reporting Exploration Results, weighting
averaging techniques, maximum and/or
minimum grade truncations (eg 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
Significant gold intercepts are reported on a continuous basis using 0.25g/t Au and 0.50g/t Au
lower grade cut-offs with a maximum of 4m of internal dilution included. Broad zonation is:
0.10g/t Au cut-off defines the wider low-grade halo of mineralisation, 0.25g/t Au cut-off
represents possible economic mineralisation, with 0.50g/t Au defining high-grade axes /
envelopes.
1.50g/t Au cut-off is possible economically underground exploitable
Metal unit (MU) distribution, where shown on maps and in tables are calculated from total drill

Criteria JORC Code explanation
Commentary
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.

hole Au * associated drill hole interval metres.
pXRF analytical results reported for laboratory pulp returns are considered accurate for the
suite of elements analysed.

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’).

All intercepts quoted are downhole widths. True widths are estimated perpendicular to
mineralisation boundaries where these limits are known.
Intercepts are associated with a major 20-120m thick low-angle mineralised shear that is
largely perpendicular to the drillhole traces.
Aggregate widths of mineralisation reported up until 2
nd
June 2023 are drillhole intervals
>0.50g/t Au occurring in apparent low angle stacked zones. Subsequent reporting is on a
continuous basis.
There are steeply dipping narrow (1-5m) structures deeper in the footwall and the
appropriateness of the current drillhole orientation will become evident and modified as
additional drill results dictate.
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.

All significant intercepts have been reported.
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 to
avoid misleading reporting of Exploration
Results.
All significant intercepts have been reported.

Criteria JORC Code explanation
Commentary

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.

Not applicable; meaningful and material results are reported in the body of the text.
Further work • The nature and scale of planned further work
(eg 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.
DD infill drilling of existing inferred resources is continuing at RAS on 30*40m metre spacing
and deeper sub-vertical structures.
A review of field mapping, soil sampling and geophysical surveys is in progress to determine
new targets for drilling in the project area.
Concurrent to the planned drilling outlined above, additional metallurgical test work,
environmental, geotechnical and hydrological investigations are on-going to support the pre-
feasibility studies into a gold mining and processing operation.