PLUKKA LIMITED TO BE RENAMED 'TESORO ... - ASX

PLUKKA LIMITED TO BE RENAMED ‘TESORO RESOURCES LIMITED’ ACN 106 854 175

PROSPECTUS

For an offer of 150,000,000 Shares at an issue price of $0.03 per Share to raise $4,500,000 (before costs) (Offer). Oversubscriptions of up to a further 33,333,333 Shares at an issue price of $0.03 per Share to raise up to a further $1,000,000 may be accepted.

The Offer will take place on a post-consolidation basis, following the fifteen (15) to (4) consolidation of the Company’s issued share capital (Consolidation).

The Offer is conditional upon satisfaction of the Conditions, which are detailed further in Section 2.4, Section 6.3 and Section 6.4. No Securities will be issued pursuant to this Prospectus until such time as the Conditions are satisfied.

This Prospectus is a re-compliance prospectus for the purposes of satisfying Chapters 1 and 2 of the ASX Listing Rules and to satisfy the ASX requirements for re-admission to the Official List following a change in nature and scale of the Company’s activities.

Lead Manager to the Offer: PAC Partners Securities Pty Ltd (ACN 623 653 912) (PAC Partners), Authorised Representative (Australian Financial Services Authorised Representative Number 00 126 1290) of PAC Asset Management Pty Ltd (AFSL 000 335 374).

IMPORTANT INFORMATION

This is an important document that should be read in its entirety. If you do not understand it, you should consult your professional advisers without delay.

The Securities offered by this Prospectus should be considered highly speculative.

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TABLE OF CONTENTS

1. CORPORATE DIRECTORY .............................................................................................. 1

2. IMPORTANT NOTICES ................................................................................................... 2

3. INDICATIVE TIMETABLE ................................................................................................. 7

4. CHAIRMAN’S LETTER ..................................................................................................... 8

5. INVESTMENT OVERVIEW ............................................................................................. 10

6. TRANSACTION OVERVIEW ......................................................................................... 28

7. DETAILS OF THE OFFERS .............................................................................................. 30

8. COMPANY OVERVIEW ............................................................................................... 40

9. FINANCIAL INFORMATION......................................................................................... 49

10. RISK FACTORS ............................................................................................................ 53

11. BOARD AND MANAGEMENT ..................................................................................... 64

12. CORPORATE GOVERNANCE ...................................................................................... 69

13. MATERIAL CONTRACTS .............................................................................................. 74

14. ADDITIONAL INFORMATION ...................................................................................... 81

15. DIRECTORS’ AUTHORISATION .................................................................................... 94

16. GLOSSARY .................................................................................................................. 95

ANNEXURE A – INDEPENDENT GEOLOGIST’S REPORT .............................................................100

ANNEXURE B – SOLICITOR’S TENEMENT REPORT .................................................................... 284

ANNEXURE C – INVESTIGATING ACCOUNTANT’S REPORT .................................................... 311

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1. CORPORATE DIRECTORY

Directors John Toll Non-Executive Chairman

Peter Ruse (retiring) Non-Executive Director

Cameron Williams (retiring) Non-Executive Director

Proposed Directors Zeffron Reeves Proposed Managing Director

Geoffrey McNamara Proposed Non-Executive Director

Company Secretary Shannon Coates (from re-listing)

Charly Duffy (to step down on re-listing)

Current ASX Code PKA

Proposed ASX Code TSO

Lead Manager to the Offer PAC Partners Securities Pty Ltd Level 10 330 Collins Street MELBOURNE VIC 3000

Independent Geologist CSA Global Pty Ltd Level 2, 3 Ord Street WEST PERTH WA 6005

Telephone: +61 8 9355 1677

Email: [email protected] Website: www.csaglobal.com

Registered Office Rialto South Tower Level 42 525 Collins Street MELBOURNE VIC 3000

Telephone: (03) 9614 2444

Website: www.plukka.com.au

Share Registry*

Automic Registry Services Level 2 267 St Georges Terrace PERTH WA 6000

Solicitors to the Company Steinepreis Paganin Level 4, The Read Buildings 16 Milligan Street PERTH WA 6000

Chilean Solicitors Barros, Silva, Varela & Vigil Abogados Ltda. Av. Apoquindo 3500 Floor 16, Las Condes CHILE

Telephone: (56 2) 23 070 900

Email: [email protected] Website: www.bsvv.cl

Auditor* RSM Australia Partners Level 32, 2 The Esplanade PERTH WA 6000

Investigating Accountant RSM Corporate Australia Pty Ltd Level 32, 2 The Esplanade PERTH WA 6000

* These entities have been included for information purposes only. They have not been involved in the preparation of this Prospectus.

mailto:[email protected]

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2. IMPORTANT NOTICES

2.1 General

This Prospectus is dated 29 October 2019 and was lodged with ASIC on that date. ASIC, ASX and their respective officers take no responsibility for the contents of this Prospectus or the merits of the investment to which this Prospectus relates.

No Shares may be issued on the basis of this Prospectus later than 13 months after the date of this Prospectus.

No person is authorised to give information or to make any representation in connection with this Prospectus which is not contained in the Prospectus. Any information or representation not so contained may not be relied on as having been authorised by the Company in connection with this Prospectus.

It is important that you read this Prospectus in its entirety and seek professional advice where necessary. The Shares the subject of this Prospectus should be considered highly speculative.

2.2 Change in nature and scale of activities and re-compliance with Chapters 1 and 2 of the ASX Listing Rules

At its annual general meeting to be held on 7 November 2019 (AGM), the Company is seeking Shareholder approval for a change in nature and scale of its activities.

ASX requires the Company to re-comply with Chapters 1 and 2 of the ASX Listing Rules. This Prospectus is a re-compliance prospectus for the purposes of satisfying Chapters 1 and 2 of the ASX Listing Rules and to satisfy the ASX requirements for re-admission of the Company to the Official List following a change in nature and scale of the Company’s activities.

The Company’s Securities will be suspended from trading on ASX on the day of the AGM and will remain suspended and not be reinstated until:

(a) satisfaction of the Conditions to the Offers; and

(b) approval of the ASX of the Company’s re-compliance with the admission requirements of Chapters 1 and 2 of the ASX Listing Rules.

In the event the Conditions are not satisfied then the Company will not proceed with the Offers and will repay all application monies received.

2.3 Investment advice

This Prospectus does not provide investment advice and has been prepared without taking account of your financial objectives, financial situation or particular needs (including financial or taxation issues). You should seek professional investment advice before subscribing for Shares under this Prospectus.

2.4 Conditional Offers

The Offers are conditional on:

(a) the passing by Shareholders of all of the Acquisition Resolutions at the AGM and the General Meeting;

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(b) raising the Minimum Subscription; and

(c) the Company receiving Conditional Approval (and the Company being satisfied that it can meet those conditions),

(each a Condition).

In the event that:

(a) Shareholders do not approve all of the Acquisition Resolutions at the AGM and the General Meeting; or

(b) the Acquisition Agreement is terminated for any reason; or

(c) the Conditions are not satisfied within three months after the date of this Prospectus,

then the Offer will not proceed, and no Shares will be issued pursuant to this Prospectus. If this occurs, the Company will repay all application monies received by it in connection with this Prospectus within the time prescribed under the Corporations Act, without interest.

Accordingly, the Offers are conditional on the successful satisfaction of the Conditions. In this regard, no Shares will be issued pursuant to this Prospectus unless all Conditions have been satisfied.

2.5 Website – Electronic Prospectus

A copy of this Prospectus can be downloaded from the website of the Company at www.plukka.com.au and can also be downloaded from Tesoro’s website at

www.tesororesources.com.au. If you are accessing the electronic version of this Prospectus for the purpose of making an investment in the Company, you must be an Australian or New Zealand resident and must only access this Prospectus from within Australia or New Zealand.

There is no facility for the Offer to be accepted electronically or by applying online. Shares will not be issued under the electronic version of the Prospectus. The Corporations Act prohibits any person passing onto another person an Application Form unless it is attached to a hard copy of this Prospectus or it accompanies the complete and unaltered version of this Prospectus. You may obtain a hard copy of this Prospectus free of charge by contacting the Company.

The Company reserves the right not to accept an Application Form from a person if it has reason to believe that when that person was given access to the electronic Application Form, such Application Form was not provided together with the electronic Prospectus and any relevant supplementary or replacement prospectus or any of those documents were incomplete or altered. No document or information included on our website is incorporated by reference into this Prospectus.

2.6 Forward-looking statements

This Prospectus contains forward-looking statements which are identified by words such as ‘may’, ‘could’, ‘believes’, ‘considers’, ‘estimates’, ‘targets’, ‘expects’, or

‘intends’ and other similar words that involve risks and uncertainties.

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These statements are based on an assessment of present economic and operating conditions, and on a number of assumptions regarding future events and actions that, as at the date of this Prospectus, are expected to take place.

Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, the Directors and management.

The Company cannot and does not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements contained in this Prospectus will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements.

These forward-looking statements are subject to various risk factors that could cause the Company’s actual results to differ materially from the results expressed or anticipated in these statements. These risk factors are set out in Part D of Section 5 and in Section 10.

2.7 Competent Person’s Statement

The information in this Prospectus relating to Exploration Results is based on information compiled by Mr Zeffron Reeves (B App Sc (Hons) Applied Geology) MBA, MAIG), who is a member of the Australian Institute of Geoscientists and a Consultant to the Company. Mr Reeves is both a Director and major shareholder of Tesoro, and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Reeves consents to the inclusion in this Prospectus of the matters based on this information in the form and context in which it appears.

2.8 ASX Waivers

ASX Listing Rules 1.1 (Condition 12) and 2.1 (Condition 2)

ASX Listing Rule 1.1 (Condition 12) provides that if an entity has options on issue the exercise price for each underlying security must be at least 20 cents in cash. ASX Listing Rules 2.1 (Condition 2) provides that the issue price or sale price of all the securities for which an entity seeks quotation (except options) must be at least 20 cents in cash.

The Company has obtained a conditional waiver from the requirements of ASX Listing Rules 1.1 (Condition 12) and 2.1 (Condition 2) to allow the Company to offer Shares under the Offer and the Cleansing Offer at an issue price which is less than 20 cents.

ASX Listing Rule 9.1.3

Pursuant to ASX Listing Rule 1.1, Condition 9, if an entity issues restricted securities before it is admitted to the Official List, it must comply with Chapter 9 of the ASX Listing Rules and, where required, provide completed restriction agreements in the prescribed form to ASX.

Pursuant to ASX Listing Rule 1.1, Condition 10, if in the 2 years before the date of application for admission to the Official List, the entity acquired a classified asset from a related party of the entity or a promoter, the consideration must have been

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restricted securities unless, under ASX Listing Rule 9.1.3, the entity is not required to apply the restrictions in Appendix 9B.

Pursuant to ASX Listing Rule 9.1.3, an entity which issues restricted securities must apply the restrictions set out in Appendix 9B or such other restrictions ASX decides in its discretion.

In the absence of relief from ASX, all Consideration Shares issued would be subject to the requirements of Items 3 and Item 4 of Appendix 9B. This would mean that:

(a) all Consideration Shares issued to a related party or promoter of the Company at the time of its re-admission to the Official List will be escrowed for a period of 24 months commencing on the date of quotation; and

(b) all Consideration Shares issued to a party that is not a related party or promoter of the Company at the time of its re-admission to the Official List will be escrowed for a period of 12 months commencing on the date of issue of the Consideration Shares.

The Company has sought a conditional waiver from the requirements of ASX Listing Rule 9.1.3 which, if approved, will permit the Company to apply the restrictions in items 1 and 2 of Appendix 9B (as applicable) to the Consideration Shares on a ‘look through relief’ basis as follows:

(a) for Tesoro Shareholders who have held their Tesoro Shares for more than 12 months, we submit that clauses 3 and 4 of Appendix 9B should be applied such that no escrow restrictions should apply to the Consideration Shares issued to these parties; and

(b) for Tesoro Shareholders who have held their Tesoro Shares for less than 12 months, we submit that clause 2 of Appendix 9B should be applied such that cash formula relief should be applied with escrow of the Consideration Shares issued to these parties to commence on the date of issue of the relevant Consideration Shares.

ASX Listing Rules 10.13.3

ASX Listing Rule 10.11 requires a listed company to obtain shareholder approval by ordinary resolution prior to the issue of equity securities, or agreement to issue equity securities, to a related party of the Company.

ASX Listing Rule 10.13 sets out the requirements for shareholder approval under ASX Listing Rule 10.11. In particular, ASX Listing Rule 10.13.3 provides that the notice of meeting must (inter alia) state the date by which the entity will issue the securities and that the securities must be issued no later than 1 month after the date of the meeting or such later date as may be permitted by any ASX waiver or modification of the ASX Listing Rules.

The Company has obtained a conditional waiver from the requirements of ASX Listing Rule 10.13.3 to allow the Company to issue the Shares, subject to Shareholder approval at the company’s upcoming AGM, to be issued to Messrs Toll and Reeves and to entities controlled by Mr McNamara. Further details relating to these issues are set out in Section 11.3.

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2.9 Photographs and diagrams

Photographs used in this Prospectus which do not have descriptions are for illustration only and should not be interpreted to mean that any person shown endorses the Prospectus or its contents or that the assets shown in them are owned by the Company. Diagrams used in this Prospectus are illustrative only and may not be drawn to scale.

2.10 Defined terms

Unless the contrary intention appears, or the context otherwise requires, words and phrases contained in this Prospectus have the same meaning and interpretation as given in the Corporations Act and capitalised terms have the meaning given in the Glossary in Section 16.

2.11 Consolidation

On 7 November 2019, the Company will hold an AGM, where the Company will seek to obtain the approval of Shareholders to proceed with a consolidation of the Company’s issued capital on a fifteen (15) to four (4) basis (Consolidation).

Unless stated otherwise, all references to the Company’s Shares as set out in this Prospectus are on a post-Consolidation basis.

2.12 Time

All references to time in this Prospectus are references to Australian Western Standard Time.

2.13 Risks

You should read this document in its entirety and, if in any doubt, consult your professional advisers before deciding whether to apply for Shares offered under this Prospectus. There are risks associated with an investment in the Company and the Shares offered under this Prospectus must be regarded as a speculative investment. The Shares offered under this Prospectus carry no guarantee with respect to return on capital investment, payment of dividends or the future value of the Shares. Refer to Part D of Section 5 and Section 10 for details relating to risk factors.

2.14 Enquiries

If you are in any doubt as to how to deal with any of the matters raised in this Prospectus, you should consult your broker or legal, financial or other professional adviser without delay. Should you have any questions about the Offer or how to accept the Offer, please call the Company Secretary, Charly Duffy, on +61 3 9614 2444.

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3. INDICATIVE TIMETABLE

Lodgement of Prospectus with ASIC 29 October 2019

Opening Date of the Offers 29 October 2019

AGM** 7 November 2019

General Meeting** 21 November 2019

Closing Date of the Offer 29 November 2019

Issue Consideration Shares 3 December 2019

Issue of Shares under the Offer 3 December 2019

Re-quotation of Shares (including Shares issued under the Offer) on ASX

5 December 2019

Cleansing Offer Closing Date 5 December 2019

* The above dates are indicative only and may change without notice. The Company also reserves the right not to proceed with any of the Offers at any time before the issue of Shares to Applicants. ** The Acquisition Resolutions will be put to existing Shareholders for approval at the AGM and the General Meeting.

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4. CHAIRMAN’S LETTER

Dear Investor,

On behalf of the Directors of Plukka Limited (ASX: PKA) (to be renamed ‘Tesoro Resources Limited’) (Plukka or the Company), it gives me great pleasure to invite you to become a Shareholder of the Company.

Plukka is an Australian public company which has been listed on the Official List of the ASX since 27 January 2004. Most recently the Company’s activities have

consisted of a multi-brand, omni-channel fine jewellery platform connecting designers of fine jewellery with consumers all over the world. In January 2018, the Company announced its plan to close its fine jewellery business and that is was seeking to acquire a new asset or business to help maximise shareholder value.

As announced on 5 August and 3 October 2019, the Company has agreed to acquire 100% of the issued capital of Tesoro Resources Limited (ACN 618 093 306) (Tesoro). Tesoro (‘Treasure’ in Spanish) is an Australian public, unlisted gold exploration company, with interests in two gold projects located in world class mining regions in Chile. The project names are El Zorro (‘Fox’ in Spanish) and Espina (‘Spine’ in Spanish) (together, the Projects).

Tesoro was established with a strategy of acquiring, exploring and developing mining projects in the Coastal Cordillera region of Chile. The Coastal Cordillera region is host to multiple world class copper (Candelaria) and gold (Maricunga) mines, has well established infrastructure, service providers and an experienced mining workforce. Large areas of the Coastal Cordillera remain relatively unexplored due to the unconsolidated nature of mining concession ownership, but Tesoro via its in-country network has been able secure rights to two district scale gold projects in-line with the Company’s strategy. An overview of Tesoro and the Projects is set out in Sections 8.2 and 8.3.

Chile has a long and rich mining history. It is currently the world’s largest copper

producer and consistently ranks as one of the best jurisdictions in the world to develop and operate mining assets, having been ranked 6th by the Fraser Institute Annual Mining Survey of Companies 2018.

Since December 2017, Tesoro has completed a sixteen hole diamond drill program at El Zorro which returned encouraging results. The Company intends to rapidly advance exploration and development of El Zorro. This will include further diamond drilling, metallurgical test work and regional magnetics surveys and mapping programs to evaluate the wider project area.

At Espina, two major epithermal style gold mineralised trends have been identified from detailed geological mapping and surface geochemical sampling, which have been completed by Tesoro. The Company is aiming to define initial drill targets for drilling during 2020.

This Prospectus is seeking to raise a minimum of $4,500,000 and a maximum of $5,500,000 through the issue of Shares at an issue price of $0.03 per Share under the Offer. The purpose of the Offer is to provide sufficient funds to further explore and develop these assets as well as seek out further complementary gold exploration, acquisition and development opportunities in Chile.

This Prospectus contains important information regarding the Offer, the financial position, operations, management team and future plans of Tesoro; and the proposed new Directors of the Company who have the skills and experience to lead the Company forward following completion of the Tesoro acquisition.

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We encourage you to read this Prospectus thoroughly and carefully before making any investment decision and consult with your independent professional adviser in connection with the Offer.

The key risks associated with an investment in the Company are set out in Section 10 and should be considered by investors in detail.

If you wish to apply for Shares, we encourage you to consider applying early. The Directors reserve the right to close the Offer early once fully subscribed.

We are excited about the new direction offered by the acquisition of Tesoro and the growth which we expect to be generated from it.

Yours sincerely,

John Toll Chairman PLUKKA LIMITED (TO BE RENAMED ‘TESORO RESOURCES LIMITED’)

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5. INVESTMENT OVERVIEW

This Section is a summary only and is not intended to provide full information for investors intending to apply for Shares offered under this Prospectus. This Prospectus should be read and considered in its entirety.

Item Summary Further information

A. COMPANY

Who is the issuer of this Prospectus?

Plukka Limited (ACN 106 854 175) (ASX: PKA) (PKA or the Company).

Who is PKA? Plukka Limited (ASX:PKA) is an Australian public company which has been listed on the Official List of the ASX since 28 January 2004. Most recently the Company’s activities

have consisted of a multi-brand, omni-channel fine jewellery platform connecting designers of fine jewellery with consumers all over the world. In January 2018, the Company announced its plan to close its fine jewellery business and that is was seeking to acquire a new asset or business to help maximise shareholder value.

Section 8.1

What acquisition agreement have we entered into?

As announced on 5 August 2019, the Company entered into a binding term sheet (Term Sheet), pursuant to which the Company agreed to acquire 100% of the issued capital of Tesoro (Acquisition). As announced on 3 October 2019, the Company, Tesoro and the Tesoro Shareholders have entered into a full form share purchase agreement in relation to the proposed Acquisition, superseding the Term Sheet (Acquisition Agreement). In consideration for acquiring 100% of the Tesoro Shares, the Company will issue (on a post-Consolidation basis): (a) 112,294,158 Shares in the Company to

the Tesoro Shareholders; and (b) 16,824,967 Shares to certain Tesoro

creditors and directors for conversion of debts and director loans.

Section 8.1 and 13.1

How will the Acquisition be implemented?

At the Company’s AGM which will be held on 7 November 2019, the Company will seek Shareholder approval for the change in the nature and scale of its activities. Approval for the other Acquisition Resolutions will be sought at the Company’s AGM and the

General Meeting which will be held on 21 November 2019.

Sections 2.2 and 6.4

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Who is Tesoro? Tesoro was incorporated in Western Australia on 21 March 2017 as an Australian private company named Stockholm Holdings Pty Ltd. On 5 October 2017, Tesoro changed its name to Tesoro Resources Pty Ltd. On 9 February 2018, Tesoro converted to a public company and changed its name to Tesoro Resources Limited. Tesoro’s main activities currently focus on gold exploration at the Projects in Chile. In accordance with its current objectives, the Company is also seeking further complementary exploration, acquisition and development opportunities in Chile. Further information relating to the Company’s

proposed business model and objectives on re-admission is set out in part B of Section 5. Tesoro holds its interests in El Zorro and Espina through a Chilean subsidiary, Tesoro Chile. Tesoro owns 95% of Tesoro Chile, with the remaining 5% owned by Tesoro’s in-country General Manager and legal representative Sergio Uribe. Sr Uribe’s interest in Tesoro Chile: • entitles him to 5% of any dividends paid

by Tesoro Chile and 5% of any distribution of a surplus in the event of a winding up;

• Is free carried and cannot be diluted; and

• does not carry any veto rights, such that Sr Uribe does not have any ability to control Tesoro Chile or its operations.

Sr Uribe’s interest in Tesoro Chile was agreed

at the time Tesoro established Tesoro Chile to enter into the option agreements over El Zorro and Espina, in recognition of Sr Uribe’s

pivotal role in introducing the Projects to Tesoro and facilitating Tesoro Chile’s entry

into the option agreements over the Projects. El Zorro Gold Project Tesoro Chile has the right to acquire up to 80% of the El Zorro Gold Project (El Zorro), located 130km from Copiapo in Region III (Atacama) of Chile, approximately 850km north of the Chilean capital, Santiago. The project covers an area of approximately 10,500 hectares. Tesoro Chile may acquire this interest by meeting exploration expenditures and project payments as reimbursement for historical costs incurred by Sr Bahamondes and his related companies in

Sections 8.2, 8.3, 8.3.1 and 8.3.2

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development of El Zorro as set out in Section 13.2.1(a). Gold mineralisation at El Zorro is associated with a suite of felsic to intermediate intrusive rocks (diorites and tonalites) which have been subject to multiple phases of faulting and brittle deformation resulting in the deposition of gold bearing fluids within intrusive rocks. Tesoro has undertaken considerable exploration work at the project including the drilling of 16 diamond drill holes, which has identified numerous new gold prospects within a 4km by 4km area outside of the previously identified Coquetas prospect.

Espina Gold Project Tesoro Chile has the right to acquire up to 100% of the Espina Gold Project (Espina), located 50km south of Santiago, in the Maipo Valley, Chile. Tesoro Chile may acquire this interest by meeting exploration expenditures and project payments as reimbursement for historical costs incurred by the Espina Vendors as reimbursement for historical costs incurred by them in development of Espina as set out in the ‘project payment schedule’ in Section 13.2.2(a)(i). Espina covers an area of approximately 5,530 hectares and is within a well-known epithermal gold region 25km north of Yamana Gold’s operating Florida mine. Tesoro is targeting epithermal style gold mineralisation which has been identified within the project area. Tesoro has undertaken considerable exploration work at the project including mapping, systematic soil sampling (over 1,000 soil samples) and processing and interpretation of aeromagnetic data. Tesoro’s work has identified two structural /

fault trends which are delineated by strong geochemical anomalism, outcropping epithermal gold bearing veins and associated widespread alteration believed to indicate the presence of a large epithermal mineralising system. Tesoro’s work has returned rock chip results

from outcropping epithermal veins of up to 69.30g/t Au. Two main trends have been identified; the Infiernillo Trend and the Puertelera Trend. These two trends have a strike extent in

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excess of 2kms each and are coincident with Au, Ag, As, Pb, Sb and Zn soil anomalies.

Is there an Independent Geologist’s

Report on the Projects?

We have engaged CSA Global Pty Ltd to prepare an Independent Geologist’s Report

on the Projects. This report provides information on: (a) the location of the Projects; (b) the geology, mineralisation and

resource date for the Projects; and (c) our exploration strategy and budget.

Annexure A

Is there a tenement report for the Projects?

We have engaged Barros, Silva, Varela & Vigil Abogados Ltda to prepare a Chilean Solicitor’s Tenement Report. This report provides information on: (a) details of the Projects and out interest in

the Projects; (b) an overview of relevant law; and (c) the status of the Projects.

Annexure B

B. BUSINESS MODEL

What are the key business strategies of PKA?

Following completion of the Offer and the Acquisition, the Company’s proposed

business model will be to further explore and develop the gold targets at both the El Zorro and Espina Projects and identified mineralisation. The Company’s main

objectives will be to: (a) systematically explore and seek to

develop the El Zorro and Espina Projects;

(b) focus on mineral exploration or resource opportunities that have the potential to deliver growth for Shareholders;

(c) continue to pursue other acquisitions that have a strategic fit for the Company;

(d) implement a growth strategy to seek out further exploration and acquisition opportunities in Chile; and

(e) provide working capital for the Company.

The funds from the Offer, together with existing cash reserves will allow the Company to further progress this business model.

Section 8.4

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How will the Company generate income?

Following completion of the Acquisition, the Company intends to complete the Offer and re-comply with Chapters 1 and 2 of the ASX Listing Rules, providing the Company with the necessary funding to explore and develop the projects. Additionally, the Company intends to generate income by adopting the following strategies: (a) to advance the exploration and

evaluation of deposits located within the Projects (where possible) in proximity to established mining operations and infrastructure which demonstrate the ability to be developed into early production opportunities;

(b) to evaluate and pursue other prospective opportunities in the resources sector in line with its strategy to develop high quality assets; and

(c) use funds raised from the Offer to continue (or commence) exploration activities on the Projects aimed at the discovery of JORC Resources, in some cases based on evaluation of targets previously defined by the Company during previous exploration undertaken.

Section 8.6

What are the key dependencies of the Company's business model?

The key factors for the Company to meet its objectives are: (a) the Company’s capacity to re-comply

with Chapters 1 and 2 of the ASX Listing Rules to enable re-admission to quotation of the Company’s Securities;

(b) reliance upon key personnel and management;

(c) the successful completion of the Offer; (d) the successful completion of the

Acquisition; and (e) raising sufficient funds to explore and

develop potential resource opportunities at the El Zorro and Espina Projects.

Section 8.5

C. KEY INVESTMENT HIGHLIGHTS

What are the key investment highlights?

The Directors are of the view that an investment in the Company provides the following non-exhaustive list of key highlights: (a) the Company will obtain ownership of

Tesoro and interests in the Espina and El

Section 6.2

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Zorro projects in Chile pursuant to the Acquisition;

(b) the potential increase in market capitalisation of the Company following completion of the Acquisition and the associated Offer may lead to access to improved equity capital market opportunities and increased liquidity;

(c) Shareholders may be exposed to further debt and equity opportunities that the Company did not have prior to the Acquisition;

(d) the appointment of the Proposed Directors will add experience and skill to the Board to assist with the growth of the Company; and

(e) the conservation of the cash reserves of the Company as the consideration for the Acquisition is solely comprised of Shares.

D. KEY RISKS

What are the key risks of an investment in PKA?

The business, assets and operations of the Company, including after completion of the Acquisition, are subject to certain risk factors that have the potential to influence the operating and financial performance of the Company in the future. These risks can impact on the value of an investment in the securities of our Company. The Board aims to manage these risks by carefully planning its activities and implementing risk control measures. Some of the risks are, however, highly unpredictable and the extent to which the Board can effectively manage them is limited. Based on the information available, a non-exhaustive list of the key risk factors affecting the Company are as follows: (a) Exploration

Potential investors should understand that mineral exploration and development are high-risk undertakings. There can be no assurance that exploration of the El Zorro and Espina Projects, or any other tenements that may be acquired in the future, will result in the discovery of an economic ore deposit. Even if an apparently viable deposit is identified, there is no guarantee that it can be economically exploited.

Section 10

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The future exploration activities of the Company may be affected by a range of factors including geological conditions, limitations on activities due to seasonal weather patterns, unanticipated operational and technical difficulties, industrial and environmental accidents, changing government regulations and many other factors beyond the control of the Company. The success of the Company will also depend upon the Company having access to sufficient development capital, being able to maintain title to its projects and obtaining all required approvals for its activities. In the event that exploration programmes prove to be unsuccessful this could lead to a diminution in the value of the Project, a reduction in the cash reserves of the Company and possible relinquishment of the projects. The exploration costs of the Company are based on certain assumptions with respect to the method and timing of exploration. By their nature, these estimates and assumptions are subject to significant uncertainties and, accordingly, the actual costs may materially differ from these estimates and assumptions. Accordingly, no assurance can be given that the cost estimates and the underlying assumptions will be realised in practice, which may materially and adversely affect the Company’s viability.

(b) Tenement applications and license renewal The Company cannot guarantee additional applications for tenements made by the Company will ultimately be granted, in whole or in part. Further the Company cannot guarantee that renewals of valid tenements will be granted on a timely basis, or at all. The Company has yet to receive regulatory and environmental approval to convert its exploration licences into production concessions. There is a risk that these approvals may not be obtained.

3571-05/2250444_9 17

(c) Tenure and access Applications

The mining concessions are at various stages of application and grant. More specifically, 16 of the mining concessions for the El Zorro Project and 36 of the mining concessions for Espina are still under application. Whilst as at the date of this Prospectus the Company does not anticipate there to be any issues with the grant of these applications, there can be no assurance that the applications that are currently pending will be granted. Whilst the Company considers the risk to be low, there can also be no assurance that when the relevant concession is granted, it will be granted in its entirety. Some of the concession areas applied for may be excluded. Renewal

Mining and exploration concessions are subject to periodic renewal. There is no guarantee that current or future concessions and/or applications for concessions will be approved. The renewal of the term of a granted concession is also subject to the discretion of the relevant authority. Renewal conditions may include increased expenditure and work commitments or compulsory relinquishment of areas of the concessions. The imposition of new conditions or the inability to meet those conditions may adversely affect the operations, financial position and/or performance of the Company. Access

A number of the Espina Concessions overlap certain superficial land and therefore any mining activity will require authorisation or consent from the owners of this superficial land. As at the date of this Prospectus, the Company is in the process of fully identifying all relevant owners of superficial land and therefore has not entered into any arrangements with or obtained any authorisation or consent from any owners at this stage. If, once all owners are identified and approached, such authorisation or consent is delayed or not granted in respect of all or some of the superficial

3571-05/2250444_9 18


land, there is a risk this could impact on the Company’s proposed exploration

of the mining concessions situated on that land. In circumstances where authorisation or consent is delayed or not granted, the Company would be required to engage in a court process to obtain an easement for it to access the land to conduct its proposed exploration activities. There is a risk that this process could result in the Company incurring additional cost or that it could create delays to the Company’s proposed

exploration program. Further, if the relevant easement is not granted, then depending on the significance of the mining concessions involved, this could impact upon the Company’s

operations. As at the date of this Prospectus, the Company considers the risk of an easement not being granted to be low.

(d) Re-Quotation of Shares on ASX Undertaking the Acquisition constitutes a significant change in the nature and scale of the Company’s activities and

the Company needs to re-comply with Chapters 1 and 2 of the ASX Listing Rules as if it were seeking admission to the Official List of ASX. There is a risk that the Company may not be able to meet the requirements of the ASX for re-quotation of its Shares on the ASX. Should this occur, the Shares will not be able to be traded on the ASX until such time as those requirements can be met, if at all. Shareholders may be prevented from trading their Shares should the Company be suspended until such time as it does re-comply with the ASX Listing Rules.

(e) Requirements for additional capital The funds to be raised under the Offer are considered sufficient to meet the immediate objectives of the Company. Additional funding may be required in the event costs exceed the Company’s

estimates and to effectively implement its business and operational plans in the future to take advantage of opportunities for acquisitions, joint

3571-05/2250444_9 19


ventures or other business opportunities, and to meet any unanticipated liabilities or expenses which the Company may incur. If such events occur, additional funding will be required. Following completion of the Offer, the Company may seek to raise further funds through equity or debt financing, joint ventures, licensing arrangements, or other means. Failure to obtain sufficient financing for the Company’s

activities may result in delay and indefinite postponement of their activities and the proposed commercialisation, marketing and international expansion strategy. There can be no assurance that additional finance will be available when needed or, if available, the terms of the financing may not be favourable to the Company and might involve substantial dilution to Shareholders.

Please refer to Section 10 for a non-exhaustive list of risk factors that apply to the Company.

E. DIRECTORS

Who are the Directors?

Prior to re-listing on the ASX and subject to completion of the Acquisition, Messrs Cameron Williams and Peter Ruse will resign and two Proposed Directors will be appointed, such that the Board of the Company upon re-listing on the ASX will be comprised of: (a) Zeffron Reeves – Managing Director; (b) Geoffrey McNamara – Non-Executive

Director; and (c) John Toll – Non-Executive Chairman. The profiles of each of these Directors and Proposed Directors are set out in Section 11.1.

Section 11

What benefits are being paid to Directors and others connected to the Offer?

The Company’s policy in respect of related

party arrangements is: (a) a Director with a material personal

interest in a matter is required to give notice to the other Directors before such a matter is considered by the Board; and

(b) for the Board to consider such a matter, the Director who has a material personal interest is not present while the matter is being considered at the

Sections 11.4 and 13.1 to 13.4

3571-05/2250444_9 20


meeting and does not vote on the matter.

For each of the Directors and Proposed Directors, their annual remuneration together with their relevant interests (direct and indirect) in the securities of the Company as at the date of this Prospectus is as follows: Remuneration to be paid to Directors and Proposed Directors

Director1 Financial Year 2018

Financial Year 2019

Current Financial

Year

Zeffron Reeves

- - $203,3002 3

Geoffrey McNamara

- - $29,1662

John Toll $44,548 $52,9524 $29,1662

Peter Ruse $3,548 $24,000 -

Cameron Williams

$3,548 $24,000 -

Notes: 1. On the reinstatement of the Company to the

Official List, Mr Toll intends to remain on as the Company’s Chairman. The Board intends to

appoint Mr McNamara as Non-Executive Director and Mr Reeves as Managing Director. Messrs Ruse and Williams intend to resign as Directors.

2. Includes per annum base salary or directors’

fees (as applicable), pro-rated for 7 months to 30 June 2020.

3. Includes sign on bonus of $50,000 payable on completion of the Acquisition.

4. An amount of $37,500 is payable to Mr Toll relating to unpaid Directors Fees.

Directors and Proposed Directors interests in the Company Details of the Directors’ and the Proposed

Directors’ relevant interest in the Securities of the Company upon completion of the Offer is set out in the table below (on a post-Consolidation basis):

Directors and Proposed Directors

Shares Performance Rights

Geoffrey McNamara 40,519,4051 73,812,8052

Zeffron Reeves3 12,963,8894 63,027,1952

John Toll 3,263,7295 Nil

Peter Ruse Nil Nil

Cameron Williams Nil Nil

3571-05/2250444_9 21


Notes:

1. Comprising an aggregate of 23,694,438 Consideration Shares to be issued to both Linkwood Holdings Pte Ltd and Tanamera Resources Pte Ltd, 16,824,967 Shares to be issued in relation to conversion of debt owed to entities associated with Mr McNamara.

2. To be issued subject to receipt of shareholder approval at the General Meeting, on the terms and conditions set out in Section 14.3. Refer to Section 13.1(e) for further details.

3. As trustee for the Palin Account Trust. 4. Upon completion of the Acquisition (as

approved at the AGM and General Meeting), Mr Reeves will receive 12,963,889 Consideration Shares.

5. Comprising 3,263,729 Shares currently held in the Company.

Other benefits to be received by parties in connection with the Offer In addition to the benefits referred to above, the Company will pay the following fees and benefits to related parties and other parties in connection with the Offer:

(a) a capital raising fee of 6% (plus GST) of the gross proceeds of the Offer to PAC Partners for lead manager services;

(b) 625,000 Shares to PAC Partners as fees for their lead manager services in relation to Tesoro’s Convertible Loan

raising (refer to Section 13.1(c)); (c) 19,166,667 Shares to be issued to PAC

Partners (or its nominees) as fees for lead manager services in relation to the Offer (refer to Section 13.3);

(d) ongoing corporate advisory fees to PAC Partners (refer to Section 13.3); and

(e) $75,000 in cash to Tanamera Resources Pte Ltd (an entity associated with Proposed Director Mr Geoff McNamara) in part repayment of a loan to Tesoro (refer to Section 13.1(d)).

What services contracts have been entered into with the Directors or other related parties?

John Toll (Non-executive Chairman) The Company has entered into an appointment letter with Mr Toll under which Mr Toll will receive $50,000 p.a. in Director’s

fees (including superannuation, as applicable). Zeffron Reeves (Managing Director) The Company has entered into an Executive Services Agreement with Mr Reeves under which he will receive base salary of

Section 11.4

3571-05/2250444_9 22


$240,000 p.a. (plus superannuation, as applicable). The Company has also agreed to pay Mr Reeves a sign-on bonus of $50,000 on completion of the Acquisition in connection with his appointment. The Company has also agreed to issue the following Shares to Mr Reeves (subject to Shareholder approval) and post reinstatement of the Company’s Shares to

Official Quotation: (a) 8,333,333 Shares as a sign-on bonus;

and (b) the right to receive payments in Shares

over a 5 year period worth up to 100% of his salary upon achievement of certain performance milestones (refer to Section 11.4 for further details).

Geoffrey McNamara (Non-executive Director) The Company has entered into an appointment letter with Mr McNamara under which he will receive $50,000 p.a. in Director’s

fees (including superannuation, as applicable), plus $1,800 per day for duties outside of normal Directors’ duties.

F. FINANCIAL INFORMATION

How has PKA been performing?

A summary of Plukka’s financial results for the financial years ending 30 June 2017 to 2019 are set out in Section 9.4.

Section 9.4

How has Tesoro been performing?

A review of the audited consolidated statements of comprehensive income for Tesoro from incorporation to 30 June 2018 and the financial year ending 30 June 2019 is set out in the Investigating Accountant’s

Report at Annexure C.

Section 8.10 and Annexure C

What is the financial outlook for PKA?

The reviewed pro-forma statement of financial position for the Company following completion of the Offer and the Acquisition is set out in the Investigating Accountant’s

Report at Annexure C.

Section 9.4 and Annexure C

Does PKA have sufficient funds for its activities?

The Board believes that the money raised under the Offer and existing cash reserves will provide the Company with sufficient working capital to progress the business as set out in this Prospectus.

Section 7.3

3571-05/2250444_9 23


G. OFFERS

What is being offered and who is entitled to participate in the Offer?

The Company will be offering 150,000,000 Shares at an issue price of $0.03 per Share to raise $4,500,000 (Offer). The Company may accept oversubscriptions of up to a further $1,000,000 through the issue of up to a further 33,333,333 Shares at an issue price of $0.03 each under the Offer. The maximum amount which may be raised under this Prospectus is therefore $5,500,000. Only residents of Australia or New Zealand may participate in the Offer.

Sections 7.1, 7.13 and 7.14

Is there a minimum subscription?

Yes, the minimum subscription for the Offer is $4,500,000 (150,000,000 Shares) (Minimum Subscription).

Section 7.1(a)

What is the purpose of the Offer?

The primary purpose of the Offer is to: (a) assist the Company to meet the re-

admission requirements of ASX under Chapters 1 and 2 of the ASX Listing Rules (see Section 6.3 for further details);

(b) provide the Company with additional funding to progress exploration and development of the Espina and El Zorro Projects in Chile; and

(c) provide the Company with sufficient working capital.

The Company intends on applying the funds raised under the Offer along with its current cash reserves in the manner detailed in Section 7.3.


What is the Cleansing Offer and why is it being conducted?

The Cleansing Offer is intended to remain open following the closing of the Offer until all Shares to be issued under the Acquisition and on conversion of Convertible Notes have been issued in order to ensure that all such Shares will be capable of being traded on ASX from the date of issue (subject to any escrow restrictions imposed by ASX).

Section 7.1

Is the Offer underwritten?

The Offer is not underwritten. Section 7.1(b)

Will there be a lead manager to the Offer?

PAC Partners Securities Pty Ltd (PAC Partners) have agreed to act as the Lead Manager to the Offer. For their services the Lead Manager will receive: (a) a capital raising fee of 6% (plus GST) of

the gross proceeds of the Offer; (b) subject to successful completion of the

Offer, PAC Partners will receive

Section 13.3

3571-05/2250444_9 24


19,166,667 Shares, which will be subject to escrow restrictions for two (2) years from the date of issue (a portion of which will be passed on to third party brokers and advisers who assist with the Offer);

(c) 625,000 Shares to PAC Partners in consideration for their lead manager services and assisting in raising funds for the Company under the Convertible Loan as set out in Section; and

(d) A Corporate Advisor retainer of $11,000 per month (plus GST) for 12 months following completion of the Offer.

Refer to Section 13.3 for further details of the fees payable to the Lead Manager for its services.

What will PKA’s

capital structure look like after completion of the Offer and the Acquisition?

Refer to Section 7.4 for a pro forma capital structure following completion of the Acquisition.

Section 7.4

Will I be guaranteed a minimum allocation under the Offer?

No, the Company is not in a position to guarantee a minimum allocation of Shares under the Offer. Shares will be issued under the Offer in accordance with the allocation policy set out in Section 7.8.


What are the terms of the Shares offered under this Prospectus?

Summaries of the material rights and liabilities attaching to the Shares offered under the Offer are set out in Section 14.2.

Section 14.2

Will any Securities be subject to escrow?

The Shares issued pursuant to the Offer will not be classified as restricted securities and will not be required to be held in escrow. Subject to the Company complying with Chapters 1 and 2 of the ASX Listing Rules and completing the Offer, it is estimated that the following securities will be subject to escrow for a period of up to 24 months after the date of re-admission to the Official List: (a) 21,222,201 Consideration Shares; (b) 19,791,667 PAC Partners fee Shares;

and (c) 4,424,600 Director Loan Shares. During the period in which restricted Securities are prohibited from being transferred, trading in Shares may be less

Section 7.10

3571-05/2250444_9 25


liquid which may impact on the ability of a Shareholder to dispose of his or her Shares in a timely manner. The Company expects to announce to the ASX full details (quantity and duration) of the Securities required to be held in escrow prior to the Company’s listed securities being

reinstated to trading on ASX (which reinstatement is subject to ASX’s discretion

and approval). At the Minimum Subscription, the Company’s ‘free float’ (being the percentage of Shares not subject to escrow and held by Shareholders that are not related parties of the Company (or their associates) at the time of admission to the Official List) will be approximately 87.32%, comprising: (a) all existing Shares; (b) 91,071,957 Consideration Shares; (c) 12,400,367 Director Loan Shares; (d) 12,500,000 Shares issued on conversion

of the Convertible Loan; and (e) all Shares issued pursuant to the Offers.

Will the Shares be quoted?

Application for quotation of all Shares to be issued under the Offer will be made to ASX no later than 7 days after the date of this Prospectus.

Section 7.9

What are the key dates of the Offers?

The key dates of the Offers are set out in the indicative timetable in Section 3.

Section 3.

What is the minimum investment size under the Offer?

Applications under the Offer must be for a minimum of $2,000 worth of Shares (66,666 Shares) and thereafter, in multiples of $200 worth of Shares (6,666 Shares).

Section 7.1(c)

Are there any conditions to the Offers?

The Offers are conditional on: (a) the passing of all the Acquisition

Resolutions at the AGM and General Meeting;

(b) raising the Minimum Subscription under the Offer; and

(c) the Company receiving Conditional Approval.

The Offers will only proceed if all of the Conditions are satisfied.

Section 2.4

H. USE OF PROCEEDS

How will the proceeds of the Offer be used?

Following completion of the Acquisition, the Company intends to apply funds raised from the Offer, together with existing cash reserves, to:


3571-05/2250444_9 26


(a) assist the Company to meet the re-admission requirements of ASX under Chapters 1 and 2 of the ASX Listing Rules (see Section 6.3 for further details);

(b) provide the Company with additional funding to progress exploration and development of the Espina and El Zorro Projects in Chile; and


The Company intends to apply the funds raised under the Offer, along with its current cash reserves, in the manner detailed in Section 7.3.

I. ADDITIONAL INFORMATION

Is there any brokerage, commission or duty payable by Applicants?

No brokerage, commission or duty is payable by Applicants on the acquisition of Shares under the Offers.

Section 7.6

What are the tax implications of investing in Shares?

Holders of Shares may be subject to Australian tax on dividends and possibly capital gains tax on a future disposal of Shares subscribed for under this Prospectus. The tax consequences of any investment in Shares depend upon an investor’s particular

circumstances. Applicants should obtain their own tax advice prior to deciding whether to subscribe for Shares offered under this Prospectus.

Section 7.6

What are the corporate governance principles and policies of the Company?

To the extent applicable, in light of the Company’s size and nature, the Company has adopted The Corporate Governance Principles and Recommendations (4th Edition) as published by ASX Corporate Governance Council (Recommendations). The Company’s main corporate governance policies and practices as at the date of this Prospectus are outlined in Section 12.1. In addition, the Company’s full Corporate Governance Plan is available from the Company’s website (www.plukka.com.au). Prior to listing on ASX, the Company will announce its main corporate governance policies and practices and the Company’s compliance and departures from the Recommendations.

Section 12.1

3571-05/2250444_9 27


Where can I find more information?

• By speaking to your sharebroker, solicitor, accountant or other independent professional adviser.

• By reviewing the Company’s public

announcements, which are accessible from ASX’s website at www.asx.com.au under the ASX code “PKA”.

• By visiting the Company’s website at

www.plukka.com.au. • By contacting Charly Duffy, the

Company’s Company Secretary, on +61 3 9614 2444.

• By contacting the Share Registry on 1300 288 664.

This section is a summary only and not intended to provide full information for investors intending to apply for Shares offered pursuant to this Prospectus. This Prospectus should be read and considered in its entirety.

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6. TRANSACTION OVERVIEW

6.1 The Acquisition

Pursuant to the Acquisition Agreement, the Company will acquire 100% of the Tesoro Shares from the Tesoro Shareholders. Following completion of the Acquisition, the Company intends on exploring, developing and mining the Espina and El Zorro projects in Chile.

A more detailed summary of the proposed business of the Company following the completion of the Acquisition is set out in Section 8.

6.2 Key Investment Highlights

The Directors are of the view that an investment in the Company provides the following non-exhaustive list of key highlights:

(a) the Company will obtain ownership of Tesoro and interests in both the Espina and El Zorro projects in Chile pursuant to the Acquisition;

(b) the potential increase in market capitalisation of the Company following completion of the Acquisition and the associated Offer may lead to access to improved equity capital market opportunities and increased liquidity;

(c) Shareholders may be exposed to further debt and equity opportunities that the Company did not have prior to the Acquisition;

(d) the appointment of the Proposed Directors will add experience and skill to the Board to assist with the growth of the Company; and

(e) the conservation of the cash reserves of the Company as the consideration for the Acquisition is solely comprised of Shares.

6.3 Suspension and Re-admission to ASX

ASX has determined that the Acquisition, if successfully completed, will represent a significant change in the nature and scale of the Company’s activities.

The change in the nature and scale of the Company’s activities will require:

(a) the approval of Shareholders at the Company’s upcoming AGM; and

(b) the Company to re-comply with the admission requirements set out in Chapters 1 and 2 of the ASX Listing Rules.

The Company’s Securities are currently suspended from trading on the ASX. The Company’s Securities will remain suspended and not be reinstated to Official Quotation until the Company has re-complied with Chapters 1 and 2 of the ASX Listing Rules and is re-admitted by the ASX to the Official List.

Some of the key requirements of Chapters 1 and 2 of the Listing Rules are:

(a) the Company must satisfy the shareholder spread requirements relating to the minimum number of Shareholders and the minimum value of the shareholdings of those Shareholders; and

(b) the Company must satisfy the “assets test” as set out in ASX Listing Rule 1.3.

3571-05/2250444_9 29

The Company expects that the conduct of the Offer pursuant to this Prospectus will enable the Company to satisfy the above requirements.

In the event that the Company does not receive Conditional Approval within three months after the date of this Prospectus, the Offer will not proceed, and no Shares will be issued pursuant to this Prospectus. If this occurs, the Company will repay all application monies received by it in connection with this Prospectus within the time prescribed under the Corporations Act, without interest.

6.4 Shareholder Approval of Acquisition Resolutions

The Company has called the AGM and the General Meeting to seek the approval of Shareholders for a number of resolutions required to implement the Acquisition. The Offer is conditional on resolutions being passed by the Shareholders at the AGM and the General Meeting to approve each of the:

(a) significant change in the nature and scale of the Company’s operations,

for which Shareholder approval is required under ASX Listing Rule 11.1.2;

(b) consolidation of the Company’s Shares on a fifteen (15) to four (4) basis, which will result in the Company having 46,809,395 Shares on issue on a post-Consolidation basis;

(c) issue of the Consideration Shares to all Tesoro Shareholders in consideration for the Acquisition;

(d) proposed Offer, by seeking approval for the issue of a minimum of 150,000,000 Shares at $0.03 per Share to raise a minimum of $4,500,000 with the ability to issue up to an additional 33,333,333 Shares to raise up to $5,500,000;

(e) participation of an existing Director, Mr John Toll; and of Mr Zeffron Reeves and an entity related to Mr Geoffrey McNamara (who are both proposed Directors of the Company) (Proposed Directors) in the Offer;

(f) the issue of Performance Rights to the Proposed Directors; and

(g) various security issues related to the Acquisition, being the issue of:

(i) Converting Loan Shares to the Lenders;

(ii) Performance Rights to the Vendors;

(iii) Shares in satisfaction for debts owed to creditors of Tesoro (including Proposed Director, Mr Geoffrey McNamara and entities associated with Mr McNamara); and

(iv) Shares to PAC Partners in consideration for lead manager services provided to the Company and for the funds raised by the Convertible Loan.

(each, an Acquisition Resolution).

If any one of the Acquisition Resolutions is not approved by Shareholders at the AGM and General Meeting, the Offer will not proceed, and no Shares will be issued pursuant to this Prospectus. If this occurs, the Company will repay all application monies received by it in connection with this Prospectus within the time prescribed under the Corporations Act, without interest.

3571-05/2250444_9 30

7. DETAILS OF THE OFFERS

7.1 The Offer

Pursuant to this Prospectus, the Company will be offering 150,000,000 Shares at an issue price of $0.03 per Share to raise $4,500,000.

The Company may accept oversubscriptions of up to a further $1,000,000 through the issue of up to a further 33,333,333 Shares at an issue price of $0.03 each under the Offer. The maximum amount which may be raised under this Prospectus is therefore $5,500,000.

Under the Cleansing Offer, the Company offers 1,000 Shares at an issue price of $0.03 per Share to raise $30.

The Cleansing Offer is included for the purpose of section 708A(11) of the Corporations Act to remove any trading restrictions on the sale of Shares issued by the Company where those issues occur after the Offer has closed. The Cleansing Offer will remain open after the close of the Offer.

The Shares offered under this Prospectus will rank equally with the existing Shares on issue. Refer to Section 14.2 for a summary of the terms of the Shares.

(a) Minimum subscription

The Minimum Subscription for the Offer is $4,500,000.

If the Minimum Subscription has not been raised within three months after the date of this Prospectus, the Offer will not proceed and no Shares will be issued pursuant to this Prospectus. If this occurs, the Company will repay all application monies received by it in connection with this Prospectus within the time prescribed under the Corporations Act, without interest.

(b) Not underwritten

The Offer is not underwritten.

(c) Minimum application amount

Applications under the Offer must be for a minimum of $2,000 worth of Shares (66,666 Shares) and thereafter, in multiples of $200 worth of Shares (6,666 Shares).

(d) Eligible participants

To participate in the Offer, you must be a resident of Australia or New Zealand. See Sections 7.13 and 7.14 for further details.

The Company is not in a position to guarantee a minimum application of Shares under the Offer.

(e) Quotation and trading

Application for quotation of the Shares issued under the Offer will be made to ASX no later than 7 days after the date of this Prospectus. See Section 7.9 for further details.

3571-05/2250444_9 31

No Shares issued pursuant to the Offer will be subject to any escrow requirements by the ASX.

Consideration Shares and Director Loan Shares issued to related parties of the Company will be escrowed in accordance with the ASX Listing Rules for up to 24 months form the date of Official Quotation.

7.2 Purpose of the Offer

The primary purpose of the Offer is to:

(a) assist the Company to meet the re-admission requirements of ASX under Chapters 1 and 2 of the ASX Listing Rules (see Section 6.3 for further details);

(b) provide the Company with additional funding to progress exploration and development of the Projects in Chile; and


The Company intends on applying the funds raised under the Offer along with its current cash reserves in the manner detailed in Section 7.3.

7.3 Use of Funds

The Company intends to apply funds raised from the Offer, together with existing cash reserves, following re-admission to the Official List of the ASX (for the purpose of satisfying ASX’s requirements for re-listing following a significant change to the nature and scale of the Company’s activities) over the next two (2) years as follows:

Minimum Subscription ($)

Maximum Subscription ($)

Funds available $4,500,000 $5,500,000

Existing cash reserves 400,000 400,000

Funds raised from the Offer 4,500,000 5,500,000

Total 4,900,000 5,900,000

Allocation of funds ($) ($)

El Zorro Exploration 2,175,000 2,575,000

Espina Exploration and Earn-in Expenditure 850,000 1,150,000

Project Payments 295,000 295,000

Partial Repayment of Director Loan to entities associated with Geoffrey McNamara

75,000 75,000

Costs of the Offer 485,990 547,066

Corporate overheads and administration costs 830,000 830,000

Administration costs and working capital 189,010 427,934

Total 4,900,000 5,900,000

3571-05/2250444_9 32

The above table is a statement of current intentions as of the date of lodgement of this Prospectus with ASIC. As with any budget, intervening events and new circumstances have the potential to affect the ultimate way funds will be applied. The Board reserves the right to alter the way funds are applied on this basis.

Actual expenditure may differ significantly from the above estimates due to a change in market conditions, the development of new opportunities and other factors (including the risk factors outlined in Section 10).

The Board believes that the funds raised from the Offer, combined with existing funds, provide the Company with sufficient working capital to progress its business objectives.

The budgeted El Zorro and Espina expenditure in the above table will be sufficient to satisfy the current stages of the earn-in expenditure requirements for each project:

(a) stage 2 for El Zorro due by 17 July 2020; and

(b) stage 1 for Espina due by 11 September 2020,

and a significant part of the next stage for each project.

A decision on whether to proceed with further stages of the earn-ins will be made based on exploration results coming from the current budgeted exploration programmes. The earn-in agreements summarised in Sections 13.2.1 and 13.2.2 require that the next stage for the Projects, stage 3 for El Zorro and stage 2 for Espina, must be completed by 17 January and 11 September 2021 (respectively). The Company will be required to raise further capital if it elects to proceed in full with both stage 3 of El Zorro and stage 2 of Espina.

7.4 Capital Structure

The expected capital structure of the Company following completion of the Offer and all related matters is tabled below:

Shares Minimum Subscription

Maximum Subscription

Shares currently on issue in Plukka 175,535,232 175,535,232

Consolidation of capital (128,725,837) (128,725,837)

Shares on issue in Plukka 46,809,395 46,809,395

Shares to be issued to Tesoro Shareholders 112,294,158 112,294,158

Shares to be issued on conversion of Tesoro Convertible Loan 12,500,000 12,500,000

Shares to be issued to Lead Manager on conversion of Tesoro Convertible Loan 625,000 625,000

Shares to be issued to Tesoro creditors on conversion of debt 16,824,967 16,824,967

Shares to be issued pursuant to the Offer 150,000,000 183,333,333

Shares to be issued to the Lead Manager 19,166,667 19,166,667

Total Shares on completion of the Acquisition (post- Consolidation) 358,220,187 391,553,520

3571-05/2250444_9 33

Performance Rights1 Number

Performance Rights currently on issue in Plukka Nil

Class A Performance Rights 46,720,000

Class B Performance Rights 50,060,000

Class C Performance Rights 20,030,000

Class D Performance Rights 20,030,000

Total Performance Rights on completion of the Acquisition (post-Consolidation) 136,840,000

Notes:

1. Subject to approval by Shareholders at the Company’s upcoming General Meeting, which will be held on 21 November 2019.

7.5 Substantial Shareholders

Those Shareholders holding 5% or more of the Shares on issue as at the date of this Prospectus and on completion of the Offer (assuming both Minimum Subscription and Maximum Subscription) are set out in the respective tables below.

7.5.1 Current Substantial Shareholders

As at the date of this Prospectus, the following Shareholders hold 5% or more of the total number of Shares on issue.

Shareholder Shares1 % (undiluted)

HSBC Custody Nominees 3,699,196 7.90

Citicorp Nominees Pty Limited 3,273,967 6.99

Mr John Toll <Toll Family Discretionary A/C> 3,263,729 6.97

Treliss Worldwide Inc 2,920,000 6.24

Terra Amata Pty Ltd 2,761,957 5.90

Azure Capital Investments Pty Ltd 2,666,666 5.7

JP Morgan Nominees Australia Pty Limited 2,501,603 5.34

J & J Bandy Nominees Pty Ltd <Bandy P/F A/C> 2,400,000 5.13

Notes

1. On a post-Consolidation basis.

7.5.2 Substantial Shareholders post-completion of the Offer – Minimum Subscription

On completion of the Acquisition and Offer with Minimum Subscription (assuming no existing substantial Shareholder noted in Sections 7.5.1 and 7.5.3 subscribes and receives additional Shares pursuant to the Offer), the following Shareholders are expected to hold 5% or more of the total number of Shares on issue:

Shareholder Shares1 % (undiluted)

Mr Geoffrey McNamara2 40,519,405 11.31

PAC Partners Securities Pty Ltd3 4 19,791,667 5.53

Note:

1. On a post-Consolidation basis.

3571-05/2250444_9 34

2. Comprising 23,694,438 Consideration held by Linkwood Holdings Pte Ltd and Tanamera Resources Limited (entities incorporated in Singapore which are both controlled by Non-Executive Director, Geoffrey McNamara), 16,824,967 Shares to be issued in relation to conversion of debt owed to entities associated with Mr McNamara. Refer to Section 11.3 for further information relating to interests of Directors.

3. Comprising 19,166,667 Shares to be issued to PAC Partners as fees for lead manager services provided to the Company and 625,000 Shares in consideration of their assistance in raising funds for the Company under the Convertible Loan. Refer to Section 13.3 for further information relating to the fees to be paid to PAC Partners.

4. PAC Partners intends to pass through a portion of the Lead Manager service fee shares to third party brokers and advisers who assist with the Offer and is therefore not expected to be a substantial shareholder following completion of the Offer.

7.5.3 Substantial Shareholders post-completion of the Offer – Maximum Subscription

On completion of the Acquisition and Offer with Maximum Subscription (assuming no existing substantial Shareholder noted in Sections 7.5.1 and 7.5.2 subscribe and receives additional Shares pursuant to the Offer), the following Shareholders are expected to hold 5% or more of the total number of Shares on issue:

Shareholder Shares % (undiluted)

Geoffrey McNamara 40,519,405 10.35

PAC Partners Securities Pty Ltd1 19,791,667 5.05

Note:

1. Refer to notes to table in Section 7.5.2.

The Company will announce to the ASX details of its Top 20 Shareholders (following completion of the Offer) prior to the Shares commencing trading on ASX.

7.6 Taxation

The acquisition and disposal of Securities may have tax consequences, which may differ depending on the individual financial affairs of each investor.

It is not possible to provide a comprehensive summary of the possible taxation positions of all potential Applicants. As such, all potential investors in the Company are urged to obtain independent financial advice about the consequences of acquiring Securities from a taxation viewpoint and generally.

To the maximum extent permitted by law, the Company, its officers and each of their respective advisors accept no liability and/or responsibility with respect to the taxation consequences of subscribing for Securities under this Prospectus.

No brokerage, commission or duty is payable by Applicants on the acquisition of Shares under the Offers.

7.7 Applications

Applications for Shares under the Offer must only be made by investors at the direction of the Company and must be made using the relevant Application Form.

By completing an Application Form, you will be taken to have declared that all details and statements made by you are complete and accurate and that you have personally received the Application Form together with a complete and unaltered copy of the Prospectus.

3571-05/2250444_9 35

Completed Application Forms must be mailed or delivered to the address set out on the Application Form, with sufficient time to be received by or on behalf of the Company by no later than 5.00pm (WST) on the Closing Date.

Applications under the Offer must be accompanied by payment in full in Australian currency by cheque in accordance with the instructions set out in the Application Form.

The Company reserves the right to close the Offer early.

If you require assistance in completing an Application Form, please contact the Company Secretary, Charly Duffy, on +61 3 9614 2444.

Cleansing Offer Applications

Applications for Shares under the Cleansing Offer should only be made if you are instructed to do so by the Company.

7.8 Issue of Shares and Allocation Policy

(a) General

Subject to the satisfaction of all the Conditions (see Section 2.4), the issue of Shares offered by this Prospectus will take place as soon as practicable after the Closing Date and in accordance with the timetable set out in Section 3.

(b) Allocation Policy

The Company retains an absolute discretion to allocate Shares under the Offer and reserves the right, in its absolute discretion, to issue to an Applicant a lesser number of Shares than the number for which the Applicant applies or to reject an Application Form. If the number of Shares issued is fewer than the number applied for, surplus application money will be refunded without interest as soon as practicable.

No Applicant under the Offer has any assurance of being allocated all or any Shares applied for. The allocation of Shares by the Board will be influenced by the following factors:

(i) the number of Shares applied for;

(ii) the overall level of demand for the Offer;

(iii) the desire for spread of investors, including institutional investors; and

(iv) the desire for an informed and active market for trading Shares following completion of the Offer.

The Company’s decision on the number of Shares to be allocated to an Applicant will be final. The Company will not be liable to any person not allocated Shares or not allocated the full amount applied for.

(c) Defects in applications

If an Application Form is not completed correctly or if the accompanying payment is the wrong amount, the Company may, in its discretion, still

3571-05/2250444_9 36

treat the Application Form to be valid. The Company’s decision to treat

an application as valid, or how to construe, amend or complete it, will be final.

(d) Interest

Pending the issue of the Shares or payment of refunds pursuant to this Prospectus, all application monies will be held by the Company in trust for Applicants in a separate bank account as required by the Corporations Act. The Company, however, will be entitled to retain all interest that accrues on the bank account and each applicant waives the right to claim interest.

7.9 ASX listing

The Company will apply for Official Quotation of all Shares issued under this Prospectus within 7 days after the date of this Prospectus. However, Applicants should be aware that ASX will not commence Official Quotation of any Shares until the Company has re-complied with Chapters 1 and 2 of the ASX Listing Rules and has received the approval of ASX to be re-admitted to the Official List (see Section 6.3). As such, the Shares may not be able to be traded for some time after the Closing Date.

If the Shares are not admitted to Official Quotation by ASX before the expiration of 3 months after the date of issue of this Prospectus, or such period as varied by ASIC, the Company will not issue any Shares and will repay all application monies for the Shares within the time prescribed under the Corporations Act, without interest.

The fact that ASX may grant Official Quotation to the Shares is not to be taken in any way as an indication of the merits of the Company or the Shares now offered for subscription.

7.10 Restricted Securities

Subject to the Company re-complying with Chapters 1 and 2 of the ASX Listing Rules and completing the Offer, certain Securities on issue (including the Consideration Shares, the Director Loan Shares and the Convertible Loan Shares) may be classified by ASX as restricted securities and would therefore be required to be held in escrow for up to 24 months from the date of Official Quotation.

The Shares issued pursuant to the Offer however will not be classified as restricted securities and will not be required to be held in escrow.

It is estimated that the following Securities will be restricted from trading for a period of 24 months after the date of re-admission of the Company to the Official List:

(a) 21,222,201 Consideration Shares;

(b) 19,791,667 PAC Partners fee Shares; and

(c) 4,424,600 Director Loan Shares.

The Company expects to announce to the ASX full details (quantity and duration) of the Securities required to be held in escrow prior to the Company’s listed

securities being reinstated to trading on ASX (which reinstatement is subject to ASX’s discretion and approval).

3571-05/2250444_9 37

At the Minimum Subscription, the Company’s ‘free float’ (being the percentage of Shares not subject to escrow and held by Shareholders that are not related parties of the Company (or their associates) at the time of admission to the Official List) will be approximately 87.32%, comprising:

(a) all existing Shares;

(b) 91,071,957 Consideration Shares;

(c) 12,400,367 Director Loan Shares;

(d) 12,500,000 Shares issued on conversion of the Convertible Loan; and

(e) all Shares issued pursuant to the Offers.

7.11 Top 20 Shareholders

The Company will announce to the ASX details of its top 20 Shareholders following the completion of the Offer and prior to the date of re-admission of the Company to the Official List.

7.12 Clearing House Electronic Sub-Register System and Issuer Sponsorship

The Company participates in CHESS. ASX Settlement Pty Ltd, a wholly owned subsidiary of ASX, operates CHESS. Investors who do not wish to participate through CHESS will be issuer sponsored by the Company.

Electronic sub-registers mean that the Company will not be issuing certificates to investors. Instead, investors will be provided with holding statements (similar to a bank account statement) that set out the number of Shares issued to them under this Prospectus. The holding statements will also advise holders of their Holder Identification Number (if the holder is broker sponsored) or Security Holder Reference Number (if the holder is issuer sponsored) and explain, for future reference, the sale and purchase procedures under CHESS and issuer sponsorship.

Electronic sub-registers also mean ownership of Shares can be transferred without having to rely upon paper documentation. Further, monthly statements will be provided to holders if there have been any changes in their security holding in the Company during the preceding month. Shareholders may request a holding statement at any other time, however a charge may be made for such additional statements.

7.13 Applicants outside Australia and New Zealand

This Prospectus does not, and is not intended to, constitute an offer of, or invitation to apply for Shares in any place or jurisdiction, or to any person to whom, it would not be lawful to make such an offer or invitation. The distribution of this Prospectus in jurisdictions outside Australia or New Zealand may be restricted by law and persons who come into possession of this Prospectus should seek advice on and observe any of these restrictions. Any failure to comply with such restrictions may constitute a violation of applicable securities laws.

No action has been taken to register or qualify the Shares or otherwise permit a public offering of the Shares the subject of this Prospectus in any jurisdiction outside Australia or New Zealand. Applicants who are resident in countries other than Australia or New Zealand should consult their professional advisers as to whether any governmental or other consents are required or whether any other formalities need to be considered and followed in order to accept the Offer.

3571-05/2250444_9 38

If you are outside Australia or New Zealand, it is your responsibility to ensure compliance with all laws of any country relevant to, and obtain all necessary approvals for, the issue of the Shares pursuant to this Prospectus. The return of a completed Application Form will be taken by the Company to constitute a representation and warranty by you that there has been no breach of any such laws and all relevant approvals have been obtained.

Where this Prospectus has been dispatched to persons in jurisdictions outside of Australia or New Zealand, in which the securities legislation or regulation requires registration or any analogous treatment, this Prospectus is provided for information purposes only. This Prospectus has not been and will not be registered under any such legislation or regulation or in any such jurisdiction.

The Offer does not and will not constitute an offer of Shares in the United States of America (US). Furthermore, no person ordinarily resident in the US is or will become permitted to submit an Application Form. If the Company believes that any Applicant is ordinarily resident in the US, or is acting on behalf of a person or entity that is ordinarily a resident of the US, the Company will reject that Applicant’s

application.

7.14 New Zealand

The Offer to New Zealand investors is a regulated offer made under Australian and New Zealand law. In Australia, this is Chapter 8 of the Corporations Act and Regulations. In New Zealand, this is Subpart 6 of Part 9 of the Financial Markets Conduct Act 2013 and Part 9 and Schedule 25 of the Financial Markets Conduct Regulations 2014.

The Offer and the content of this Prospectus are principally governed by Australian rather than New Zealand law. In the main, the Corporations Act and Regulations (Australia) set out how the Offer must be made.

There are differences in how securities are regulated under Australian law. For example, the disclosure of fees for collective investment schemes is different under the Australian regime.

The rights, remedies, and compensation arrangements available to New Zealand investors in Australian securities may differ from the rights, remedies, and compensation arrangements for New Zealand securities.

Both the Australian and New Zealand securities regulators have enforcement responsibilities in relation to the Offer. If you need to make a complaint about the Offer, please contact the Financial Markets Authority, Wellington, New Zealand. The Australian and New Zealand regulators will work together to settle your complaint.

The taxation treatment of Australian securities is not the same as for New Zealand securities.

If you are uncertain about whether this investment is appropriate for you, you should seek the advice of an appropriately qualified financial adviser.

The Offer may involve a currency exchange risk. The currency for the Securities is not New Zealand dollars. The value of the Securities will go up or down according to changes in the exchange rate between that currency and New Zealand dollars. These changes may be significant.

3571-05/2250444_9 39

If you expect the Securities to pay any amounts in a currency that is not New Zealand dollars, you may incur significant fees in having the funds credited to a bank account in New Zealand in New Zealand dollars.

If the Securities are able to be traded on a securities market and you wish to trade the Securities through that market, you will have to make arrangements for a participant in that market to sell the Securities on your behalf. If the securities market does not operate in New Zealand, the way in which the market operates, the regulation of participants in that market, and the information available to you about the Securities and trading may differ from securities markets that operate in New Zealand.

7.15 Enquiries

If you have any queries in relation to the Offer, please contact Charly Duffy, the Company Secretary, on +61 3 9614 2444.

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8. COMPANY OVERVIEW

8.1 Overview

Plukka Limited (ASX: PKA) (Company) is an Australian public company which has been listed on the Official List of the ASX since 28 January 2004. Most recently the Company’s activities have consisted of a multi-brand, omni-channel fine jewellery platform connecting designers of fine jewellery with consumers all over the world. In January 2018, the Company announced its plan to close its fine jewellery business and that is was seeking to acquire a new asset or business to help maximise shareholder value.

As announced on 5 August 2019, the Company entered into a binding Term Sheet, pursuant to which the Company agreed to acquire 100% of the issued capital of Tesoro. As announced on 3 October 2019, the Company, Tesoro and the Tesoro Shareholders have entered into the Acquisition Agreement in relation to the proposed Acquisition, superseding the Term Sheet.

8.2 About Tesoro

Tesoro Resources Limited (Tesoro) was incorporated in Western Australia on 21 March 2017 as an Australian private company named Stockholm Holdings Pty Ltd.

On 5 October 2017, Tesoro changed its name to Tesoro Resources Pty Ltd. On 9 February 2018, Tesoro converted to a public company and changed its name to Tesoro Resources Limited.

Tesoro’s main activities currently focus on gold exploration at the El Zorro and Espina projects (together, Projects) in Chile. An overview of the Projects is set out in Sections 8.3.1 and 8.3.2, with more detailed information set out in the Chilean Solicitor’s Report in Annexure B.

In accordance with its current objectives (see Part B of the Investment Overview in Section 5), Tesoro is also seeking further complementary exploration, acquisition and development opportunities in Chile. Further information relating to the Company’s proposed business model and objectives on re-admission is set out in Part B of Section 5.

Tesoro’s current capital structure is as follows:

Shareholder Shares % of Shares

Zeffron Reeves 3,457,037 11.54

Linkwood Holdings Pte Ltd1 4,049,136 13.52

Tanamera Resources Pte Ltd1 2,269,381 7.58

All other shareholders 20,169,555 67.36

Total 29,945,109 100

Note:

1. An entity incorporated in Singapore and controlled by Geoffrey McNamara, a proposed non-executive Director of the Company

8.3 Overview of the Projects

Tesoro holds its interests in the Projects through a Chilean subsidiary Tesoro Chile.

3571-05/2250444_9 41

Tesoro owns 95% of Tesoro Chile, with the remaining 5% owned by Tesoro’s in-country General Manager and legal representative Sergio Uribe. Sr Uribe’s interest

in Tesoro Chile:

• entitles him to 5% of any dividends paid by Tesoro Chile and 5% of any distribution of a surplus in the event of a winding up;

• Is free carried and cannot be diluted; and

• does not carry any veto rights, such that Sr Uribe does not have any ability to control Tesoro Chile or its operations.

Sr Uribe’s interest in Tesoro Chile was agreed at the time Tesoro established Tesoro

Chile to enter into the option agreements over El Zorro and Espina, in recognition of Sr Uribe’s pivotal role in introducing the Projects to Tesoro and facilitating Tesoro

Chile’s entry into the option agreements over the Projects.

8.3.1 El Zorro Project

Tesoro Chile has the right to acquire up to 80% of the El Zorro Gold Project (El Zorro), located 130km from Copiapo in Region III (Atacama) of Chile, approximately 850km north of the Chilean capital, Santiago. The project covers an area of approximately 10,500 hectares.

Gold mineralisation at El Zorro is associated with a suite of felsic to intermediate intrusive rocks (diorites and tonalites) which have been subject to multiple phases of faulting and brittle deformation resulting in the deposition of gold bearing fluids within intrusive rocks.

Tesoro has undertaken considerable exploration work at the project including the drilling of 16 diamond drill holes. Tesoro’s work has identified numerous new gold prospects within a 4km by 4km area outside of the previously identified Coquetas prospect.

El Zorro Gold Project Location

3571-05/2250444_9 42

El Zorro Project concession area (yellow) and exploration targets (red). Blue excised areas are third party concessions.

El Zorro Project district geology map and targets with outcrop channel sampling results

3571-05/2250444_9 43

Tesoro Chile currently owns 51% of El Zorro and is required to pay approximately USD$100,000 in project payments by January 2022 as reimbursement for historical costs incurred by Sr Bahamondes and his related companies in development of El Zorro and USD$3,500,000 in expenditure on the El Zorro project prior to January 2021 in order to earn 80% Refer to Section 13.2.1(a)(i) for further details.

8.3.2 Espina Project

Tesoro Chile has the right to acquire up to 100% of the Espina Gold Project (Espina), located 50km south of Santiago, in the Maipo Valley, Chile. The Espina project covers an area of approximately 5,530 hectares and is within a well-known epithermal gold region 25km north of Yamana Gold’s operating Florida mine.

Tesoro is targeting epithermal style gold mineralisation which has been identified within the project area.

Tesoro has undertaken considerable exploration work at the project including mapping, systematic soil sampling (over 1,000 soil samples) and processing and interpretation of aeromagnetic data. Tesoro’s work has identified two structural /

fault trends which are delineated by strong geochemical anomalism, outcropping epithermal gold bearing veins and associated widespread alteration believed to indicate the presence of a large epithermal mineralising system.

Tesoro’s work has returned rock chip results from outcropping epithermal veins of

up to 69.30g/t Au. Two main trends have been identified; the Infiernillo Trend and the Puertelera Trend. These two trends have a strike extent in excess of 2kms each and are coincident with Au, Ag, As, Pb, Sb and Zn soil anomalies.

Espina Gold Project Location

3571-05/2250444_9 44

Espina Gold Project Concession Map on district geology showing major targets

Espina Gold Project – Infiernillo and Puertelera targets showing large multielement soil anomalies over geology.

3571-05/2250444_9 45

In order to acquire up to 90% of Espina, Tesoro Chile must meet exploration expenditure of up to USD$4,500,000 by September 2023 and project payments of up to USD$200,000 by December 2022 to the Espina Vendors as reimbursement for historical costs incurred by them in development of Espina as set out in the ‘project payment schedule’ at 13.2.2(a)(i).

Tesoro Chile has an option to acquire the remaining 10% interest in Espina for USD$4,000,000 by 11 December 2023. Refer to Section 13.2.2(a)(ii) for further details. As required by the Listing Rules and ASX policy, this amount will be paid in escrowed Shares if the Company elects to exercise this option within two years from re-listing.

Upon the successful completion of the Acquisition, the Company intends to explore and develop the gold targets at both the El Zorro and Espina Projects.

8.4 Business Model

Following completion of the Offer and the Acquisition, the Company’s proposed

business model will be to further explore and develop the gold targets at both of the Projects and identified mineralisation. The Company’s main objectives will be

to:

(a) systematically explore and seek to develop the Projects;

(b) focus on mineral exploration or resource opportunities that have the potential to deliver growth for Shareholders;

(c) continue to pursue other acquisitions that have a strategic fit for the Company;

(d) implement a growth strategy to seek out further exploration and acquisition opportunities in Chile; and

(e) provide working capital for the Company.

To achieve these objectives, following Official Quotation, the Company proposes to undertake the exploration programs set out below. These programs are designed to test the economic viability of the Company’s Projects, and results will

determine the commercial viability and possible timing for the commencement of further work programs, including pre-feasibility studies and commencement of other mining operations on the Projects if warranted.

In order to manage these programs and subject to the results of each stage of work, the Company expects to supplement its existing personnel with additional technical expertise as and when needed with a mixture of both permanent and contractor positions.

The funds from the Offer together with existing cash reserves will allow the Company to further progress its business model.

8.5 Key Dependencies of the Business Model

The key factors for the Company to meet its objectives are:

(a) the Company’s capacity to re-comply with Chapters 1 and 2 of the ASX Listing Rules to enable re-admission to quotation of the Company’s

Securities;

3571-05/2250444_9 46

(b) reliance upon key personnel and management;

(c) the successful completion of the Offer;

(d) the successful completion of the Acquisition; and

(e) raising sufficient funds to explore and develop potential resource opportunities at the Projects.

8.6 Growth Strategy

For growth, the Company intends to increase Shareholder value as per the vision outlined above, by adopting the following strategies:

(a) to advance the exploration and evaluation of deposits located within the Projects (where possible) in proximity to established mining operations and infrastructure which demonstrate the ability to be developed into operating mines;

(b) to evaluate and pursue other prospective opportunities in the resources sector in line with its strategy to develop high quality assets; and

(c) use funds raised from the Offer to continue (or commence) exploration activities on the Projects aimed at the discovery of JORC Resources, in some cases based on evaluation of targets previously defined by the Company.

8.7 Funding

The funding for the Company for the two years following re-admission to the Official List of ASX will be met by the offer of Shares pursuant to the Offer under this Prospectus and by the Company’s existing cash reserves (see Section 7.3 for further details). As and when further funds are required, either for existing or future developments, the Company will consider both raising additional capital from the issue of Securities and/or from debt funding.

3571-05/2250444_9 47

8.8 Group Structure (Post-Completion)

Upon completion of the Acquisition, Tesoro will become a wholly owned subsidiary of the Company. A group structure diagram is set out below, which assumes completion of the Acquisition:

Note:

1. Dormant, existing subsidiary of the Company in the process of being wound up.

2. As noted in Section 8.3, Tesoro’s in-country General Manager and legal representative, Sr Sergio Uribe holds a free-carried and non-dilutable 5% interest in Tesoro Chile. Sr Uribe holds his interest in Tesoro Chile through a holding company ‘Inversiones Marlin Limitada’.

3. This company owns 100% of the interests in Espina. Tesoro Chile has the right to earn up to 100% of this company, but does not currently own any shares pending completion of stage 1 of the Espina Agreement earn-in (see Section 13.2.2 for further details).

4. This company owns 100% of the interests in El Zorro. Tesoro Chile currently owns 51% of the shares in this company and has the right to earn up to 80% (see Section 13.2.1 for further details).

8.9 Board and Management

Prior to re-listing on the ASX and subject to completion of the Acquisition, existing Directors Peter Ruse and Cameron Williams will resign and the two Proposed Directors will be appointed, such that the Board of the Company on listing on ASX will be comprised of:

(a) Zeffron Reeves – Managing Director;

(b) John Toll – Non-Executive Chairman; and

(c) Geoffrey McNamara – Non-Executive Director.

The profiles of each of the existing Directors and the Proposed Directors are set out in Section 11.1.

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8.10 Financial Information

(a) Historical financial information

The Investigating Accountant’s Report contained at Annexure C of this Prospectus sets out:

(i) a review of Tesoro’ audited accounts for the period from incorporation to 30 June 2018 and the financial year ended 30 June 2019; and

(ii) the Company’s reviewed pro-forma Statement of Financial Position for the Company following completion of the Offer and the Acquisition.

Investors are urged to read the Investigating Accountant’s Report in full.

The Company’s audited financial statements for the financial years ended 30 June 2018 and 2019 can be found on the Company’s website

(www.plukka.com.au) and on the ASX announcements platform at www.asx.com.au.

Tesoro’s financial statements for the period from incorporation to 30 June 2018 and for the financial year ended 30 June 2019 can also be found on the Company’s website (www.plukka.com.au).

(b) Forecast

The Directors have considered the matters set out in ASIC Regulatory Guide 170 and believe that they do not have a reasonable basis to forecast future earnings on the basis that the operations of the Company are inherently uncertain. Any forecast or projection information would contain such a broad range of potential outcomes and possibilities that it is not possible to prepare a reliable best estimate forecast or projection.

8.11 Dividend Policy

For the Company to progress its business model as detailed in Section 8.4, significant funding is likely to be required and therefore the Company currently has no plans to declare any dividends.

Any future determination as to the payment of dividends by the Company will be at the discretion of the Board and will depend on the availability of distributable earnings and operating results and financial condition of the Company, future capital requirements and general business and other factors considered relevant by the Board. No assurance in relation to the payment of dividends or franking credits attaching to dividends can be given by the Company.

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9. FINANCIAL INFORMATION

9.1 Investigating Accountant’s Report

RSM Corporate Australia Pty Ltd (RSM) has prepared an Independent Limited Assurance Report attached to this Prospectus as Annexure C (Investigating Accountant’s Report).

9.2 Historical Financial Information for Tesoro

The Investigating Accountant’s Report includes abbreviated historical financial

information for Tesoro. The audited financial statements (inclusive of significant accounting policies) of Tesoro referred to in the Investigating Accountant’s Report

are available free of charge by request to the Company on +61 9614 2444.

9.3 Pro forma Statements of Financial Position: Minimum and Maximum Raise

Pro forma Statements of Financial Position for the Company following completion of the Offer and the Acquisition are set out in the Investigating Accountant’s

Report for both the Minimum and Maximum Subscriptions, including notes explaining the pro forma adjustments.

9.4 The Company

This Section contains a summary of the audited historical consolidated statements of financial position, consolidated statements of profit or loss and other comprehensive income and consolidated statement of cash flows of the Company for the financial years ended 30 June 2019, 2018 and 2017 that the Directors consider relevant to investors.

This financial information has been extracted from the Company’s financial

statements for those financial years, which were audited by RSM Australia Partners. It has not been reviewed or reported on by the Investigating Accountant.

The financial information presented is in an abbreviated form and does not contain all of the disclosures that are usually contained in statutory accounts prepared in accordance with the Corporations Act.

The information presented in this Section should be read in conjunction with the scope and limitations of the Investigating Accountant’s Report, the risk factors set

out in Section 10, and other information contained in this Prospectus.

The audited and reviewed financial statements (inclusive of significant accounting policies) of the Company referred to above are available on the Company’s website at www.plukka.com.au or free of charge by request to the Company Secretary, Charly Duffy on +61 9614 2444.

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9.4.1 Company’s Historical Consolidated Statement of Profit or Loss and Other

Comprehensive Income

The table below sets out the Consolidated Statements of Profit or Loss and Other Comprehensive Income of the Company for the financial years ended 30 June 2017 to 2019 extracted from the financial statements referred to in Section 9.4.

Year Ended 30 June 2019



Audited Audited Audited

$ $ $

Revenue from continuing operations

Other income 25,920 16,825 592

Expenses

Marketing, operations, administration and corporate overhead (550,430) (469,828) (484,625)

Share-based payments expense - 149,226 (642,056)

Borrowing fees - - (545,052)

Total expenses (550,430) (320,602) (1,671,733)

Loss before income tax expense from continuing operations (524,510) (303,777) (1,671,141)

Income tax expense - - -

Loss after income tax from continuing operations (524,510) (303,777) (1,671,141)

Loss after income tax from discontinued operations (16,030) (1,150,824) (2,713,845)

Loss for the year (540,540) (1,454,601) (4,384,986)

Other comprehensive loss for the year, net of tax

Items that may be reclassifed subsequently to profit or loss

Exchange differences on translation of foreign operations 7,111 (68,153) (125,995)

Other comprehensive loss for the year, net of tax 7,111 (68,153) (125,995)

Total comprehensive loss for the year (533,429) (1,522,754) (4,510,981)

Total comprehensive loss for the year is attributabe to the members of Plukka Limited:

Continuing operations (524,510) (303,777) (1,671,141)

Discontinued operations (8,919) (1,218,977) (2,839,840)

(533,429) (1,522,754) (4,510,981)

Basic and diluted loss per share from continuing operations (cents per share) (0.30) (0.17) (1.06)

Basic and diluted loss per share from discontinued operations (cents per share) (0.01) (0.68) (1.71)

Basic and diluted loss per share attributable to owners of Plukka Limited (cents per share)

(0.31) (0.85) (2.77)

This table should be read in conjunction with the notes to the financial statements referred to in Section 9.4.

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9.4.2 Company’s Historical Consolidated Statements of Financial Position

The table below sets out the Consolidated Statements of Financial Position of the Company extracted from the financial statements referred to in Section 9.4.


Year Ended 30 June

2018

Year Ended 30 June

2017


$ $ $

CURRENT ASSETS

Cash and cash equivalents 405,805 942,033 1,969,435

Trade and other receivables 8,995 5,844 223,341

Inventory - - 248,722

Other current assets 36,727 29,248 217,679

Total current assets 451,527 977,125 2,659,177

TOTAL ASSETS 451,527 977,125 2,659,177

CURRENT LIABILITIES

Trade and other payables 243,505 235,674 291,326

Provisions - - 14,420

Total current liabilities 243,505 235,674 305,746

TOTAL LIABILITIES 243,505 235,674 305,746

NET ASSETS 208,022 741,451 2,353,431

EQUITY

Issued capital 21,770,206 21,770,206 21,414,394

Reserves - 1,324,558 1,769,596

Foreign currentcy translation reserve (484,079) (491,190) (423,037)

Accumulated losses (21,078,105) (21,862,123) (20,407,522)

TOTAL EQUITY 208,022 741,451 2,353,431


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9.4.3 Company’s Historical Consolidated Statements of Cash Flows

The table below sets out the Consolidated Statements of Cash Flows of the Company extracted from the financial statements referred to in Section 9.4.





$ $ $

Cash flows from operating activites

Receipts from customers - 543,469 1,696,074

Payments to suppliers and employees (568,987) (1,520,629) (4,530,532)

Interest received 253 431 724

Net cash used in operating activities (568,734) (976,729) (2,833,734)

Net decrease in cash and cash equivalents (568,734) (976,729) (2,375,272)

Cash and cash equivalents at the beginning of the financial year 942,033 1,969,435 4,952,570

Effects of exchange rate changes on cash and cash equivalents 32,506 (50,673) (607,863)

Cash and cash equilivants at the end of the financial year 405,805 942,033 1,969,435

Cash flows from discontinued operations


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10. RISK FACTORS

The business, assets and operations of the Company, including after completion of the Acquisition, are subject to certain risk factors that have the potential to influence the operating and financial performance of the Company in the future. These risks can impact on the value of an investment in the securities of our Company.

The Board aims to manage these risks by carefully planning its activities and implementing risk control measures. Some of the risks are, however, highly unpredictable and the extent to which the Board can effectively manage them is limited.

The risks and uncertainties described below are not intended to be exhaustive. The summary of risks that follows is not intended to be exhaustive and this Prospectus does not take into account the personal circumstances, financial position or investment requirements of any particular person. There may be additional risks and uncertainties that the Company is unaware of or that the Company currently considers to be immaterial, which may affect the Company, or its related entities and consequently Applicants. Based on the information available, a non-exhaustive list of risk factors for the Company associated with the Company’s proposal to undertake the Acquisition is as follows.

10.1 Risks relating to the Change in Nature and Scale of Activities

(a) Completion risk

Pursuant to the Acquisition Agreement, the Company has agreed to acquire 100% of the issued capital of Tesoro, completion of which is subject to the fulfilment of certain conditions. There is a risk that the conditions for completion of the Acquisition cannot be fulfilled and, in turn, that completion of the Acquisition of Tesoro does not occur.

If the Acquisition is not completed, the Company will incur costs relating to advisors and other costs without any material benefit being achieved.

(b) Re-Quotation of Shares on ASX

Undertaking the Acquisition constitutes a significant change in the nature and scale of the Company’s activities and the Company needs to re-comply with Chapters 1 and 2 of the ASX Listing Rules as if it were seeking admission to the Official List of ASX.

There is a risk that the Company may not be able to meet the requirements of the ASX for re-quotation of its Shares on the ASX. Should this occur, the Shares will not be able to be traded on the ASX until such time as those requirements can be met, if at all. Shareholders may be prevented from trading their Shares should the Company be suspended until such time as it does re-comply with the ASX Listing Rules.

(c) Additional requirements for capital

The funds to be raised under the Offer are considered sufficient to meet the immediate objectives of the Company. Additional funding may be required in the event costs exceed the Company’s estimates and to

effectively implement its business and operational plans in the future to take advantage of opportunities for acquisitions, joint ventures or other business opportunities, and to meet any unanticipated liabilities or

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expenses which the Company may incur. If such events occur, additional funding will be required.

Following completion of the Offer, the Company may seek to raise further funds through equity or debt financing, joint ventures, licensing arrangements, or other means. Failure to obtain sufficient financing for the Company’s activities may result in delay and indefinite

postponement of their activities and the proposed commercialisation, marketing and international expansion strategy. There can be no assurance that additional finance will be available when needed or, if available, the terms of the financing may not be favourable to the Company and might involve substantial dilution to Shareholders.

10.2 Company specific

(a) Exploration

Potential investors should understand that mineral exploration and development are high-risk undertakings. There can be no assurance that exploration of the Projects, or any other tenements that may be acquired in the future, will result in the discovery of an economic ore deposit. Even if an apparently viable deposit is identified, there is no guarantee that it can be economically exploited.

The future exploration activities of the Company may be affected by a range of factors including geological conditions, limitations on activities due to seasonal weather patterns, unanticipated operational and technical difficulties, industrial and environmental accidents, native title process, changing government regulations and many other factors beyond the control of the Company.

The success of the Company will also depend upon the Company having access to sufficient development capital, being able to maintain title to its projects and obtaining all required approvals for its activities. In the event that exploration programmes prove to be unsuccessful this could lead to a diminution in the value of the Projects, a reduction in the cash reserves of the Company and possible relinquishment of the projects.

The exploration costs of the Company are based on certain assumptions with respect to the method and timing of exploration. By their nature, these estimates and assumptions are subject to significant uncertainties and, accordingly, the actual costs may materially differ from these estimates and assumptions. Accordingly, no assurance can be given that the cost estimates and the underlying assumptions will be realised in practice, which may materially and adversely affect the Company’s

viability.

(b) Tenement applications and license renewal

The Company cannot guarantee additional applications for tenements made by the Company will ultimately be granted, in whole or in part. Further the Company cannot guarantee that renewals of valid tenements will be granted on a timely basis, or at all. The Company has yet to receive regulatory and environmental approval to convert its exploration licences into production concessions. There is a risk that these approvals may not be obtained.

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(c) Tenure and access

Applications

The mining concessions are at various stages of application and grant. More specifically, 16 of the mining concessions for the El Zorro Project and 36 of the mining concessions for Espina are still under application.

Whilst as at the date of this Prospectus the Company does not anticipate there to be any issues with the grant of these applications, there can be no assurance that the applications that are currently pending will be granted. Whilst the Company considers the risk to be low, there can also be no assurance that when the relevant concession is granted, it will be granted in its entirety. Some of the concession areas applied for may be excluded.

Renewal

Mining and exploration concessions are subject to periodic renewal. There is no guarantee that current or future concessions and/or applications for concessions will be approved.

The renewal of the term of a granted concession is also subject to the discretion of the relevant authority. Renewal conditions may include increased expenditure and work commitments or compulsory relinquishment of areas of the concessions. The imposition of new conditions or the inability to meet those conditions may adversely affect the operations, financial position and/or performance of the Company.

Access

A number of the Espina Concessions overlap certain superficial land and therefore any mining activity will require authorisation or consent from the owners of this superficial land. As at the date of this Prospectus, the Company is in the process of fully identifying all relevant owners of superficial land and therefore has not entered into any arrangements with or obtained any authorisation or consent from any owners at this stage.

If, once all owners are identified and approached, such authorisation or consent is delayed or not granted in respect of all or some of the superficial land, there is a risk this could impact on the Company’s

proposed exploration of the mining concessions situated on that land.

In circumstances where authorisation or consent is delayed or not granted, the Company would be required to engage in a court process to obtain an easement for it to access the land to conduct its proposed exploration activities. There is a risk that this process could result in the Company incurring additional cost or that it could create delays to the Company’s proposed exploration program. Further, if the relevant

easement is not granted, then depending on the significance of the mining concessions involved, this could impact upon the Company’s

operations. As at the date of this Prospectus, the Company considers the risk of an easement not being granted to be low.

Please refer to Section 5 of the Chilean Solicitor’s Report on mining concessions for further details.

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(d) Main operations in Chile and land access

While Chile is considered to be one of South America’s most politically

stable and prosperous nations, it may nevertheless be subject to social and economic uncertainty. Civil and political unrest and outbreaks of hostilities in Chile could affect the Company’s access to its projects and subsequent exploration and development.

Adverse changes in government policies or legislation in Chile affecting foreign ownership of mineral interests, taxation, profit repatriation, royalties, land access, labour relations, and mining and exploration activities may affect the operations of the Company.

In addition to the above risks, Espina is in close proximity to local villages and several local properties. Issues associated with accessing private land has the potential to delay or halt exploration and development activities, although it should be noted that Colonial has a strong history of mining activity and maintaining good relationships with locals.

(e) Earthquake

Chile, including the areas in which the Projects are situated, is seismically active and prone to frequent earthquakes and occasional tsunamis. Any such event may result in operational delays to the Company’s operations.

(f) Mine development

Possible future development of a mining operation at the Company’s

projects is dependent on a number of factors including, but not limited to, the acquisition and/or delineation of economically recoverable mineralisation, favourable geological conditions, receiving the necessary approvals from all relevant authorities and parties, seasonal weather patterns, unanticipated technical and operational difficulties encountered in extraction and production activities, mechanical failure of operating plant and equipment, shortages or increases in the price of consumables, spare parts and plant and equipment, cost overruns, access to the required level of funding and contracting risk from third parties providing essential services.

If the Company commences production, its operations may be disrupted by a variety of risks and hazards which are beyond its control, including environmental hazards, industrial accidents, technical failures, labour disputes, unusual or unexpected rock formations, flooding and extended interruptions due to inclement of hazardous weather conditions and fires, explosions or accidents. No assurance can be given that the Company will achieve commercial viability through the development or mining of its projects and treatment of ore.

(g) Limited history

Having been incorporated on 21 March 2017, Tesoro has limited operating history, although it should be noted that the Proposed Directors have between them significant operational experience. No assurances can be given that the Company will achieve commercial viability through the successful exploration and/or mining of its projects. Until the Company is able to realise value from its projects, it is likely to incur ongoing operating losses.

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(h) Reliance on key personnel

The responsibility of overseeing the day-to-day operations and the strategic management of the Company depends substantially on its senior management and its key personnel. There can be no assurance given that there will be no detrimental impact on the Company if one or more of these employees cease their employment.

(i) Restricted securities reducing liquidity

Subject to the Company being admitted to the Official List, certain securities on issue prior to the Offer will be classified by ASX as restricted securities and will be required to be held in escrow for up to 24 months from the date of Official Quotation. During the period in which these securities are prohibited from being transferred, trading in Shares may be less liquid which may impact on the ability of a Shareholder to dispose of his or her Shares in a timely manner.

The Company will announce to the ASX full details (quantity and duration) of the Shares required to be held in escrow prior to the Shares commencing trading on ASX.

10.3 Industry specific

(a) Gold Price

Changes in the market price of gold, which in the past have fluctuated widely, will affect the profitability of the Company’s operations and its

financial condition in the future, if and when the Company enters production. The Company’s revenues, profitability and viability would depend on the market price of gold produced from the Company’s

Projects. The market price of gold is set in the world market and is affected by numerous industry factors beyond the Company’s control

including the demand, expectations with respect to the rate of inflation, interest rates, currency exchange rates, the demand for gold and industrial products containing metals, gold production levels, inventories, cost of substitutes, changes in global or regional investment or consumption patterns, and sales by central banks and other holders, speculators and procedures of gold and other metals in response to any of the above factors, and global and regional political and economic factors.

Should the Company eventually enter a production phase, a decline in the market price of gold below the Company’s production costs for any

sustained period would have a material adverse impact on the profit, cash flow and results of operations of the Company’s Projects and

anticipated future operations. Such a decline also could have a material adverse impact on the ability of the Company to finance the exploration and development of its existing and future mineral projects. A decline in the market price of gold may also require the Company to write-down its material reserves which would have a material adverse effect on the value of the Company’s securities. Further, if future revenue from any

future gold sales decline, the Company may experience liquidity difficulties. The Company will also have to assess the economic impact of any sustained lower prices on recoverability and therefore, on cut-off grades and the level of any future mineral reserves and resources.

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(b) Project agreements

The interests in the Company’s Projects are contingent upon the

Company meeting certain payment obligations and expenditure commitments under the relevant Option Agreements.

Until such time as the relevant payments and expenditures are made or incurred, as applicable, the El Zorro and Espina mining concessions remain under the control of the controlling shareholder of the relevant legal mining company that owns them or, in the case of the Optioned mining concessions, the current owner.

Further, the participation rights of the respective shareholders in each legal mining company which holds the relevant mining concessions for each Project will not be diluted until such time as full payment and expenditure for each stage of the relevant Project Option have been satisfied.

There is a risk therefore that whilst the majority of costs or expenditure in relation to a particular stage of a Project Option may have been expended, the associated interest in the legal mining company, and therefore the mining concessions held by it, will not be formally recognised until such time as the full amount is expended. If the full amount is not expended for any reason, for example if the Company does not have the appropriate funds in place or is unable to raise any required funds within the option period, there is a risk that, in the absence of any agreement to the contrary between the relevant parties, any expenditure undertaken on that stage to date may not be recognised.

(c) Exploration costs

The exploration costs of the Company are based on certain assumptions with respect to the method and timing of exploration. By their nature, these estimates and assumptions are subject to significant uncertainties and, accordingly, the actual costs may materially differ from these estimates and assumptions. Accordingly, no assurance can be given that the cost estimates and the underlying assumptions will be realised in practice, which may materially and adversely affect the Company’s

viability.

(d) Exploration success

The mining concessions are at various stages of exploration, and potential investors should understand that mineral exploration and development are high-risk undertakings.

There can be no assurance that exploration of the mining concessions, or any other licenses that may be acquired in the future, will result in the discovery of an economic ore deposit. Even if an apparently viable deposit is identified, there is no guarantee that it can be economically exploited.

The Company has not yet published resource estimates for any prospects. There is no assurance that exploration or project studies by the Company will result in the definition of an economically viable mineral deposit or that the exploration tonnage estimates and conceptual project developments discussed in this Prospectus are able to be achieved.

3571-05/2250444_9 59

The exploration costs of the Company described in the Independent Geologist’s Report are based on certain assumptions with respect to the method and timing of exploration. By their nature, these estimates and assumptions are subject to significant uncertainties and, accordingly, the actual costs may materially differ from these estimates and assumptions. Accordingly, no assurance can be given that the cost estimates and the underlying assumptions will be realised in practice, which may materially and adversely affect the Company’s viability.

(e) Resource and reserves and exploration targets

The Company has identified a number of exploration targets based on geological mapping and interpretations, geophysical data, geochemical sampling and historical drilling. Insufficient data however, exists to provide certainty over the extent of the mineralisation. Whilst the Company intends to undertake additional exploratory work with the aim of defining an economic resource, no assurances can be given that additional exploration will result in the determination of a resource on any of the exploration targets identified. Even if a resource is identified no assurance can be provided that this can be economically extracted.

Reserve and Resource estimates are expressions of judgement based on knowledge, experience and industry practice. Estimates which were valid when initially calculated may alter significantly when new information or techniques become available. In addition, by their very nature Resource and Reserve estimates are imprecise and depend to some extent on interpretations which may prove to be inaccurate.

(f) Mine development

Possible future development of mining operations is dependent on a number of factors including, but not limited to, the acquisition and/or delineation of economically recoverable mineralisation, favourable geological conditions, receiving the necessary approvals from all relevant authorities and parties, seasonal weather patterns, unanticipated technical and operational difficulties encountered in extraction and production activities, mechanical failure of operating plant and equipment, shortages or increases in the price of consumables, spare parts and plant and equipment, cost overruns, access to the required level of funding and contracting risk from third parties providing essential services.

If the Company commences production on the Projects or any of its future projects, its operations may be disrupted by a variety of risks and hazards which are beyond the control of the Company. No assurance can be given that the Company will achieve commercial viability through the development of its projects.

The risks associated with the development of a mine will be considered in full should the Projects or any future projects that the Company acquires an interest in reach that stage and will be managed with ongoing consideration of stakeholder interests.

(g) Operations

The operations of the Company may be affected by various factors, including failure to locate or identify mineral deposits, failure to achieve predicted grades in exploration and mining, operational and technical

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difficulties encountered in mining, difficulties in commissioning and operating plant and equipment, mechanical failure or plant breakdown, unanticipated metallurgical problems which may affect extraction costs, adverse weather conditions, industrial and environmental accidents, industrial disputes and unexpected shortages or increases in the costs of consumables, spare parts, plant and equipment.

No assurances can be given that the Company will achieve commercial viability through the successful exploration and/or mining of its tenement interests. Until the Company is able to realise value from its projects, it is likely to incur ongoing operating losses.

(h) Environmental

The operations and proposed activities of the Company are subject to Chilean laws and regulations concerning the environment. As with most exploration projects and mining operations, the Company’s activities are

expected to have an impact on the environment, particularly if advanced exploration or mine development proceeds. It is the Company’s intention to conduct its activities to the highest standard of environmental obligation, including compliance with all environmental laws.

Mining operations have inherent risks and liabilities associated with safety and damage to the environment and the disposal of waste products occurring as a result of mineral exploration and production. The occurrence of any such safety or environmental incident could delay production or increase production costs. Events, such as unpredictable rainfall or fires may impact on the Company’s ongoing compliance with

environmental legislation, regulations and licences. Significant liabilities could be imposed on the Company for damages, clean-up costs or penalties in the event of certain discharges into the environment, environmental damage caused by previous operations or non-compliance with environmental laws or regulations.

The disposal of mining and process waste and mine water discharge are under constant legislative scrutiny and regulation. There is a risk that environmental laws and regulations become more onerous making the Company’s operations more expensive.

Approvals are required for land clearing and for ground disturbing activities. Delays in obtaining such approvals can result in the delay to anticipated exploration programmes or mining activities.

10.4 General Risks

(a) Economic

General economic conditions, introduction of tax reform, new legislation, movements in interest and inflation rates and currency exchange rates may have an adverse effect on the Company, as well as on its ability to fund its operations.

(b) Commodity price volatility and exchange rate risk

The Company’s revenue will be in US dollars derived from the sale of gold and the Company’s operating expenses will be incurred principally in US dollars. Movements in the USD/AUD exchange rate and/or the US dollar

3571-05/2250444_9 61

gold price may adversely or beneficially affect the Company’s results or

operations and cash flows.

(c) Competition risk

The industry in which the Company will be involved is subject to domestic and global competition. Although the Company will undertake reasonable due diligence in its business decisions and operations, the Company will have no influence or control over the activities or actions of its competitors, which activities or actions may, positively or negatively, affect the operating and financial performance of the Company.

(d) Market conditions

Share market conditions may affect the value of the Company’s quoted

securities regardless of the Company’s operating performance. Share

market conditions are affected by many factors such as:

(i) general economic outlook;

(ii) introduction of tax reform or other new legislation;

(iii) interest rates and inflation rates;

(iv) changes in investor sentiment toward particular market sectors;

(v) the demand for, and supply of, capital; and

(vi) terrorism or other hostilities.

The market price of securities can fall as well as rise and may be subject to varied and unpredictable influences on the market for equities in general. Neither the Company nor the Directors warrant the future performance of the Company or any return on an investment in the Company.

Applicants should be aware that there are risks associated with any securities investment. Securities listed on the stock market experience extreme price and volume fluctuations that have often been unrelated to the operating performance of such companies. These factors may materially affect the market price of the Shares regardless of the Company’s performance.

(e) Taxation

The acquisition and disposal of Shares will have tax consequences, which will differ depending on the individual financial affairs of each investor. All potential investors in the Company are urged to obtain independent financial advice about the consequences of acquiring Shares from a taxation viewpoint and generally.

To the maximum extent permitted by law, the Company, its officers and each of their respective advisors accept no liability and responsibility with respect to the taxation consequences of subscribing for Shares under this Prospectus.

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(f) Additional requirements for capital

The Company’s capital requirements depend on numerous factors. The

Company may require further financing in addition to amounts raised under the Offer. Any additional equity financing will dilute shareholdings, and debt financing, if available, may involve restrictions on financing and operating activities. If the Company is unable to obtain additional financing as needed, it may be required to reduce the scope of its operations. There is however no guarantee that the Company will be able to secure any additional funding or be able to secure funding on terms favourable to the Company.

(g) Agents and contractors

The Directors are unable to predict the risk of the insolvency or managerial failure by any of the contractors used (or to be used in the future) by the Company in any of its activities or the insolvency or other managerial failure by any of the other service providers used (or to be used in the future) by the Company for any activity.

(h) Force majeure

The Company’s projects now or in the future may be adversely affected by risks outside the control of the Company including labour unrest, civil disorder, war, subversive activities or sabotage, fires, floods, explosions or other catastrophes, epidemics or quarantine restrictions.

(i) Litigation risks

The Company is exposed to possible litigation risks including native title claims, tenure disputes, environmental claims, occupational health and safety claims and employee claims. Further, the Company may be involved in disputes with other parties in the future which may result in litigation. Any such claim or dispute if proven, may impact adversely on the Company’s operations, financial performance and financial position.

The Company is not currently engaged in any litigation.

(j) Insurance

The Company intends to insure its operations in accordance with industry practice. However, in certain circumstances the Company’s insurance

may not be of a nature or level to provide adequate insurance cover. The occurrence of an event that is not covered or fully covered by insurance could have a material adverse effect on the business, financial condition and results of the Company.

Insurance of all risks associated with the Company’s business may not always be available and where available the costs may be prohibitive.

10.5 Investment Speculative

The above list of risk factors ought not to be taken as exhaustive of the risks faced by the Company or by investors in the Company. The above factors, and others not specifically referred to above, may in the future materially affect the financial performance of the Company and the value of the Shares offered under this Prospectus.

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Therefore, the Shares to be issued pursuant to this Prospectus carry no guarantee with respect to the payment of dividends, returns of capital or the market value of those Shares.

Potential investors should consider that investment in the Company is highly speculative and should consult their professional advisers before deciding whether to apply for Shares pursuant to this Prospectus.

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11. BOARD AND MANAGEMENT

11.1 Directors of the Company

Upon completion of the Acquisition, it is intended that existing director, Mr John Toll will remain as Non-Executive Chairman and Messrs Cameron Williams and Peter Ruse will each resign from the Board.

On completion of the Acquisition, the Company has agreed to appoint Mr Zeffron Reeves as Managing Director and Mr Geoffrey McNamara as a Non-executive Director, such that the directors of the Company upon re-listing on the ASX will be as follows:

(a) John Toll (Non-Executive Chairman) BComm, CA

Mr Toll brings valuable experience as a partner of Azure Capital Limited, a leading corporate advisory firm based in Perth, Western Australia. Mr Toll has over 15 years’ experience in corporate advisory, focusing mainly on equity financing transactions across a range of industries including mining, technology, general industrials, biotech and infrastructure. He has advised local and international clients on transactions ranging from private capital raisings for early stage companies through to strategic and transformation capital raising for established businesses. John has a Bachelor of Commerce, has completed the Institute of Chartered Accountants CA Program and a Graduate Diploma in Applied Finance.

The Board considers that Mr Toll is an independent Director.

(b) Zeffron Reeves (Proposed Managing Director) BSc (Hons) (Applied Geology), MBA, MAIG

Mr Reeves is a geologist with over 20 years’ experience in the resources

sector working on mineral resource projects through all facets of development from greenfield exploration, discovery, definition and feasibility, construction, production to closure. Mr Reeves was most recently Managing Director of ASX listed Metallum Ltd which had a number of development and operational projects in Chile. He has also held senior management positions with Cleveland Mining Ltd and Ashburton Minerals Ltd, developing projects in Brazil. Mr Reeves has a Bachelor of Applied Geology (Honours), a Masters of Business Administration from Curtin University and is a member of the Australia Institute of Geoscientists.

The Board considers that Mr Reeves is not an independent Director.

(c) Geoffrey McNamara (Non-Executive Director) BSc (Applied Geology), AusIMM, FINSIA, AICD

Mr McNamara is a geologist with over 25 years’ experience in the

resource sector, covering operational roles including Project Manager, Senior Mine Geologist and Mine Geologist for Ivanhoe Mines Ltd, LionOre Mining International Ltd and Western Mining Corporation Resources Limited. A partner at Medea Capital Partners, he was previously an owner and Investment Director of private equity firm Pacific Road Capital. Prior to this he was a Director of Société Generale’s Mining Finance group in New York. He currently holds a number of Non-Executive Director roles including Non-Executive Chairman of UK listed Cora Gold Limited and Non-Executive Chairman of

3571-05/2250444_9 65

Alita Resources. Mr McNamara holds a Bachelors degree in Geology and a Graduate Diploma in Applied Finance and Investment from the Financial Services Institute of Australasia. He is a member of the Australian Institute of Company Directors (AICD) and the Australasian Institute of Mining and Metallurgy (AusIMM).

The Board considers that Mr McNamara is not an independent Director.

The Company is aware of the need to have sufficient management to properly manage the business and the Board will continually monitor the management roles in the Company. The Board may look to appoint additional management and/or consultants when and where appropriate to ensure proper management of the Company.

11.2 Disclosure in relation to Geoffrey McNamara

Mr Geoffrey McNamara is a Director of Alita Resources Limited (ACN 147 393 735) (Alita), which appointed a voluntary administrator on 29 August 2019. The voluntary administrator was appointed because of a sudden crash in the price of lithium as a result of a change to Chinese markets. Mr McNamara has advised the Company that the voluntary administrator currently anticipates a restructure of Alita through a Deed of Company Arrangement process announced on 8 October 2019.

11.3 Personal Interests of Directors

Directors are not required under PKA’s Constitution to hold any Shares to be eligible to act as a Director.

Details of the Directors’ and Proposed Director’s remuneration are set out in the table below:

Director1 Remuneration for year ended 30 June 2018

Remuneration for year ended 30 June 2019

Proposed remuneration for current financial

year

Zeffron Reeves - - $203,3002,3

Geoffrey McNamara - - $29,1662

John Toll $44,548 $52,9524 $29,1662

Peter Ruse $3,548 $24,000 -

Cameron Williams $3,548 $24,000 -

Notes:

1. On the reinstatement of the Company to the Official List, Mr Toll intends to remain on as the Company’s Chairman. The Board intends to appoint Mr McNamara as Non-Executive Director and Mr Reeves as Managing Director. Messrs Ruse and Williams intend to resign as Directors.

2. Includes per annum base salary or directors’ fees (as applicable), pro-rated for 7 months to 30 June 2020.

3. Includes sign on bonus of $50,000 payable on completion of the Acquisition.

4. An amount of $37,500 is payable to Mr Toll relating to unpaid Directors Fees.

The Company’s Constitution provides that the remuneration of non-executive Directors will be not more than the aggregate fixed sum determined by a general meeting. The Shareholders have approved the payment of fees to the Non-

3571-05/2250444_9 66

Executive Directors which in aggregate cannot exceed $500,000 per annum, although this may be varied by ordinary resolution of the Shareholders in general meeting.

The remuneration of any executive director that may be appointed to the Board will be fixed by the Board and may be paid by way of fixed salary or consultancy fee.

Directors are also entitled to be paid reasonable travelling, hotel and other expenses incurred by them respectively in or about the performance of their duties as Directors.

The Board reviews and approves the remuneration policy to enable the Company to attract and retain Directors who will create value for Shareholders having consideration to the amount considered to be commensurate for a company of its size and level of activity as well as the relevant Directors’ time, commitment and responsibility.

Details of the Directors’ and the Proposed Directors’ relevant interest in the Securities of the Company upon completion of the Offer is set out in the table below (on a post-Consolidation basis):

Director/Proposed Director Shares Performance Rights

Geoffrey McNamara 40,519,4051 73,812,8052

Zeffron Reeves3 12,963,8894 63,027,1952

John Toll 3,263,7295 Nil

Peter Ruse Nil Nil

Cameron Williams Nil Nil

Notes:

1. Comprising an aggregate of 23,694,438 Consideration Shares to be issued to both Linkwood Holdings Pte Ltd and Tanamera Resources Pte Ltd, 16,824,967 Shares to be issued in relation to conversion of debt owed to entities associated with Mr McNamara.

2. To be issued subject to receipt of shareholder approval at the General Meeting, on the terms and conditions set out in 14.3.

3. As trustee for the Palin Account Trust.

4. Upon completion of the Acquisition (as approved at the AGM and General Meeting), Mr Reeves will receive 12,963,889 Consideration Shares.

5. Comprising 3,263,729 Shares currently held in the Company.

11.4 Agreements with Directors and Related Parties

The Company’s policy in respect of related party arrangements is:

(a) a Director with a material personal interest in a matter is required to give notice to the other Directors before such a matter is considered by the Board; and

(b) for the Board to consider such a matter, the Director who has a material personal interest is not present while the matter is being considered at the meeting and does not vote on the matter.

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11.4.1 Executive Services Agreement Zeffron Reeves

The Company has entered into an Executive Services Agreement (ESA) with Mr Reeves. A summary of the material terms and conditions of the ESA is set out below:

(a) (Position): Mr Reeves is appointed as the Managing Director of the Company.

(b) (Commencement Date): Mr Reeves’ term as the Managing Director of

the Company will commence on the date on which the Company is re-admitted to the Official List.

(c) (Term): Mr Reeves’ employment commences on the Commencement

Date and will continue until the ESA is validly terminated in accordance with its terms.

(d) (Notice period): The Company must give 3 months’ notice to terminate

the ESA other than for cause. Mr Reeves must give 3 months’ notice to

terminate the ESA.

(e) (Remuneration): The Company will pay Mr Reeves:

(i) a base salary of $240,000 per annum (plus statutory superannuation);

(ii) a sign-on bonus of $50,000 in connection with his appointment payable on completion of the Acquisition; and

(iii) subject to Shareholder approval to be sought a reasonable time after the Commencement Date, 8,333,333 Shares at a deemed issue price of $0.03 per Share (being $250,000 worth of Shares at the issue price under the Offer).

(f) (Long term incentive scheme): Subject to Shareholder approval (to be sought within a reasonable period of time after the relevant performance milestone has been achieved), Mr Reeves (or his nominee) will be entitled to the following Shares as a long term incentive in connection with his appointment:

(i) Shares worth one third of Mr Reeves’ annual salary on the Company announcing that it has completed placements to corporate and/or institutional investors for a combined minimum of 5% of the share capital of the Company within 5 years from the Commencement Date;

(ii) Shares worth one third of Mr Reeves’ annual salary on the Company announcing a JORC compliant Inferred Resource of ≥500,000 oz’s of gold or gold equivalent at any of its current or future projects within 5 years from the Commencement Date; and

(iii) Shares worth one third of Mr Reeves’ annual salary on the Company announcing completion a pre-feasibility study which confirms the commercial viability of any of its current or future projects within 5 years from the Commencement Date.

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The deemed issue price for calculating the number of Shares to be issued will be the volume weight average price for Shares traded on ASX on the last 5 trading days prior to achievement of the relevant milestone.

(g) (Expenses): On provision of all documentary evidence reasonably required by the Company, the Company will reimburse Mr Reeves for all reasonable travelling intra/interstate or overseas, accommodation and general expenses incurred by Mr Reeves in the performance of all duties in connection with the business of the Company.

The agreement otherwise contains leave entitlements, termination and confidentiality provisions and general provisions considered standard for an agreement of this nature.

11.4.2 Non-Executive Director Appointment Letters

(a) John Toll

The Company has entered into an appointment letter with Mr Toll in relation to his appointment as Non-Executive Chairman. Under the appointment letter, Mr Toll is entitled to receive Director’s fees of

$50,000 per annum (inclusive of superannuation) plus consulting fees at a rate of $1,800 per day for duties outside of his normal duties as Non-Executive Chairman.

(b) Geoffrey McNamara

The Company has entered into an appointment letter with Mr McNamara in relation to his appointment as a Non-Executive Director. Under the appointment letter, Mr McNamara is entitled to receive Director’s fees of

$50,000 per annum (inclusive of superannuation) plus consulting fees at a rate of $1,800 per day for duties outside of his normal duties as a Non-Executive Director.

Both of the appointment letters are otherwise on terms typical for agreements of this nature.

11.5 Deeds of indemnity, insurance and access

The Company has entered into a Deed of Indemnity, Insurance and Access with each of its Directors. Under these deeds, the Company agrees to indemnify each officer to the extent permitted by the Corporations Act against any liability arising as a result of the officer acting as an officer of the Company. The Company will also be required to maintain insurance policies for the benefit of the relevant officer and allow the officers to inspect board papers in certain circumstances.

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12. CORPORATE GOVERNANCE

12.1 ASX Corporate Governance Council Principles and Recommendations

The Company has adopted comprehensive systems of control and accountability as the basis for the administration of corporate governance. To implement these systems, the Company has adopted a set of policies and procedures. The Board is committed to administering the policies and procedures with openness and integrity, pursuing the true spirit of corporate governance commensurate with the Company's needs.

To the extent applicable, the Company has adopted The Corporate Governance

Principles and Recommendations (4th Edition) as published by ASX Corporate Governance Council (Recommendations).

In light of the Company’s size and nature, the Board considers that the current

board is a cost effective and practical method of directing and managing the Company. As the Company’s activities develop in size, nature and scope, the size

of the Board and the implementation of additional corporate governance policies and structures will be reviewed.

The Company’s main corporate governance policies and practices as at the date of this Prospectus are outlined below and the Company’s full Corporate

Governance Plan is available in a dedicated corporate governance information section of the Company’s website at www.plukka.com.au.

12.2 Board of Directors

The Board is responsible for corporate governance of the Company. The Board develops strategies for the Company, reviews strategic objectives and monitors performance against those objectives. The goals of the corporate governance processes are to:

(a) maintain and increase Shareholder value;

(b) ensure a prudential and ethical basis for the Company’s conduct and

activities consistent with the Company’s stated values; and

(c) ensure compliance with the Company’s legal and regulatory objectives.

Consistent with these goals, the Board assumes the following responsibilities:

(a) leading and setting the strategic direction, values and objectives of the Company;

(b) appointing the Chairman of the Board, Managing Director or Chief Executive Officer and approving the appointment of senior executives and the Company Secretary;

(c) overseeing the implementation of the Company’s strategic objectives,

values, code of conduct and performance generally;

(d) approving operating budgets, major capital expenditure and significant acquisitions and divestitures;

(e) overseeing the integrity of the Company’s accounting and corporate

reporting systems, including any external audit (satisfying itself financial

http://www.tesororesources.com.au/

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statements released to the market fairly and accurately reflect the Company’s financial position and performance);

(f) establishing procedures for verifying the integrity of those periodic reports which are not audited or reviewed by an external auditor, to ensure that each periodic report is materially accurate, balanced and provides investors with appropriate information to make informed investment decisions;

(g) overseeing the Company’s procedures and processes for making timely

and balanced disclosure of all material information that a reasonable person would expect to have a material effect on the price or value of the Company’s securities;

(h) reviewing, ratifying and monitoring the effectiveness of the Company’s

risk management framework, corporate governance policies and systems designed to ensure legal compliance; and

(i) approving the Company’s remuneration framework.

The Company is committed to the circulation of relevant materials to Directors in a timely manner to facilitate Directors’ participation in the Board discussions on a

fully-informed basis.

12.3 Composition of the Board and diversity

Election of Board members is substantially the responsibility of the Shareholders in general meeting, subject to the following:

(a) membership of the Board of Directors will be reviewed regularly to ensure the mix of skills and expertise is appropriate; and

(b) the composition of the Board has been structured so as to provide the Company with an adequate mix of directors with industry knowledge, technical, commercial and financial skills together with integrity and judgment considered necessary to represent shareholders and fulfil the business objectives and values of the Company as well as to deal with new and emerging business and governance issues.

Upon completion of the Acquisition, the Board will consist of three directors (two non-executive Directors and one executive Director) of whom John Toll is considered independent. The Board considers the current balance of skills and expertise to be appropriate given the Company for its currently planned level of activity.

Upon completion of the Acquisition, the Board is proposed to consist of three (3) members. The Company has not adopted a Nominations Committee or a Remuneration Committee, but has formally adopted a policy and procedure for the selection and reappointment of Directors. The Directors consider that the Company is currently not of a size, nor are its affairs of such complexity as to justify the formation of a Nomination or Remuneration Committee. The responsibilities of a Nomination and Remuneration Committee are currently carried out by the Board.

The Company, the Company’s stated values and all the Company’s related bodies corporate are committed to workplace diversity. The Company is committed to inclusion at all levels of the organisation, regardless of gender, marital or family status, sexual orientation, gender identity, age, disabilities,

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ethnicity, religious beliefs, cultural background, socio-economic background, perspective and experience.

To assist in evaluating the appropriateness of the Board’s mix of qualifications, experience and expertise, the Board intends to maintain a Board Skills Matrix to ensure that the Board has the skills to discharge its obligations effectively and to add value.

The Board undertakes appropriate checks before appointing a person as a Director or putting forward to Shareholders a candidate for election as a Director or senior executive.

The Board ensures that Shareholders are provided with all material information in the Board’s possession relevant to a decision on whether or not to elect or re-elect a Director.

The Company shall develop and implement a formal induction program for Directors, which is tailored to their existing skills, knowledge and experience. The purpose of this program is to allow new directors to participate fully and actively in Board decision-making at the earliest opportunity, and to enable new directors to gain an understanding of the Company’s policies and procedures.

The Board maintains oversight and responsibility for the Company’s continual

monitoring of its diversity practices. The Company’s Diversity Policy provides a framework for the Company to achieve enhanced recruitment practices whereby the best person for the job is employed, which requires the consideration of a broad and diverse pool of talent.

12.4 Identification and management of risk

The Board’s collective experience will enable accurate identification of the

principal risks that may affect the Company’s business. Key operational risks and their management will be recurring items for deliberation at Board meetings.

12.5 Ethical standards

The Board is committed to the establishment and maintenance of appropriate ethical standards and to conducting all of the Company’s business activities fairly,

honestly with integrity, and in compliance with all applicable laws, rules and regulations. In particular, the Company and the Board are committed to preventing any form of bribery or corruption and to upholding all laws relevant to these issues as set out in in the Company’s Anti-Bribery and Anti-Corruption Policy. In addition, the Company encourages reporting of actual and suspected violations of the Company’s Code of Conduct or other instances of illegal, unethical or improper conduct. The Company and the Board provide effective protection from victimisation or dismissal to those reporting such conduct as set out in its Whistleblower Protection Policy.

12.6 Independent professional advice

Subject to the Chairman’s approval (not to be unreasonably withheld), the

Directors, at the Company’s expense, may obtain independent professional

advice on issues arising in the course of their duties.

12.7 Remuneration arrangements

The remuneration of an executive Director will be decided by the Board, without the affected executive Director participating in that decision-making process.

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The total maximum remuneration of non-executive Directors is initially set by the Constitution. Subsequent variation is by ordinary resolution of Shareholders in general meeting in accordance with the Constitution, the Corporations Act and the ASX Listing Rules, as applicable. The determination of non-executive Directors’

remuneration within that maximum cap will be made by the Board having regard to the inputs and value to the Company of the respective contributions by each non-executive Director. The current amount has been set at an amount not to exceed $500,000 per annum.

In addition, a Director may be paid fees or other amounts (i.e. subject to any necessary Shareholder approval, non-cash performance incentives such as Options) as the Directors determine where a Director performs special duties or otherwise performs services outside the scope of the ordinary duties of a Director.

Directors are also entitled to be paid reasonable travelling, hotel and other expenses incurred by them respectively in the performance of their duties as Directors.

The Board reviews and approves the remuneration policy to enable the Company to attract and retain executives and Directors who will create value for Shareholders having consideration to the amount considered to be commensurate for a company of its size and level of activity as well as the relevant Directors’ time, commitment and responsibility. The Board is also responsible for reviewing any employee incentive and equity-based plans including the appropriateness of performance hurdles and total payments proposed.

12.8 Trading policy

The Board has adopted a trading policy that sets out the guidelines on the sale and purchase of securities in the Company by its directors, officers, employees and contractors. The trading policy generally provides that for directors, the written acknowledgement of the Chair (or the Board in the case of the Chairman) must be obtained prior to trading.

12.9 External audit

The Company in general meetings is responsible for the appointment of the external auditors of the Company. From time to time, the Board will review the scope, performance and fees of those external auditors.

12.10 Audit committee

The Company will not have a separate audit committee until such time as the Board is of a sufficient size and structure, and the Company’s operations are of a

sufficient magnitude for a separate committee to be of benefit to the Company. In the meantime, the full Board will carry out the duties that would ordinarily be assigned to that committee under the written terms of reference for that committee, including but not limited to:

(a) monitoring and reviewing any matters of significance affecting financial reporting and compliance;

(b) verifying the integrity of those periodic reports which are not audited or reviewed by an external auditor;

(c) monitoring and reviewing the Company’s internal audit and financial control system, risk management systems; and

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(d) management of the Company’s relationships with external auditors.

12.11 Departures from Recommendations

Under the ASX Listing Rules the Company will be required to provide a statement in its annual financial report or on its website disclosing the extent to which it has followed the Recommendations during each reporting period. Where the Company has not followed a Recommendation, it must identify the Recommendation that has not been followed and give reasons for not following it.

The Company’s compliance and departures from the Recommendations will also

be announced prior to admission to the Official List of the ASX.

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13. MATERIAL CONTRACTS

13.1 Acquisition Agreement

The key terms and conditions of the Acquisition Agreement include the following:

(a) Conditions Precedent

(i) the Company undertaking a consolidation of its issued share capital on a ratio of 15:4 (or such other ratio as is agreed between the parties) (Consolidation);

(ii) all Tesoro Shareholders accepting offers for their respective shares in Tesoro by execution of separate instruments of transfer;

(iii) the Company receiving conditional approval from ASX in writing for the re-instatement of PKA’s shares to trading on ASX assuming

completion of the Acquisition and satisfaction of the customary conditions acceptable to the Company and Tesoro;

(iv) the Company obtaining valid applications for no less than AUD$4,500,000 pursuant to a prospectus for the offer of Shares in connection with the re-instatement;

(v) PKA and/or Tesoro obtaining all necessary shareholder and regulatory approvals required to complete the Acquisition and issue all consideration;

(vi) no material adverse change having occurred in relation to Tesoro or its assets between the date of this Term Sheet and completion of the Acquisition; and

(vii) Tesoro and PKA obtaining all necessary third-party consents for completion of the Acquisition (including for a change of control under contracts, as applicable).

(b) Consideration

The Company will:

(i) acquire 100% of the Tesoro Shares for the issue of 112,294,158 fully paid ordinary shares (Shares) (post-Consolidation); and

(ii) issue 16,824,967 Shares (post-Consolidation) to certain Tesoro creditors and directors for conversion of debts and director loans.

(c) Convertible Loan

Tesoro completed an interest-free unsecured convertible loan raising of $300,000 to sophisticated and professional investors who are not related parties of either the Company or Tesoro under the Convertible Loan Agreements referred to in Section 13.4 below. On completion of the Acquisition, the Company will assume the obligation to repay the Convertible Loans and repay them through the issue of Shares at a conversion price of $0.024 per Share (being a 20% discount to the issue price under the Offer).

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The Company has agreed to pay PAC Partners a lead manager fee in relation to the Convertible Loan issue of 5% of the gross proceeds raised, by way of the issue of 625,000 Shares in the Company (subject to conversion of the Convertible Loans into Shares and the Company’s re-listing on the ASX).

(d) Director Loan

(i) The parties acknowledge and agree that Linkwood Holdings Pte Ltd, and Tanamera Resources Pte Ltd (entities incorporated in Singapore), both entities associated with Mr Geoffrey McNamara have accrued unpaid loans to Tesoro, as well as accruing, on behalf of Mr McNamara, unpaid director fees.

(ii) The parties acknowledge and agree that the Director Loan shall, subject to receipt of all requisite shareholder approvals, be:

(A) assigned to the Company;

(B) partially repaid by the Company through the issue of 16,824,967 PKA Shares; and

(C) partially repaid by the Company by cash payment of $75,000 to Tanamera Resources Pte Ltd (an entity associated with Mr Geoff McNamara, a proposed non-executive Director of the Company) upon completion of the Offer.

(e) Performance Rights

The Vendors will be issued 136,840,000 Performance Rights, convertible into Shares on a one for one basis (post-Consolidation) subject to the successful achievement of the Milestones relating to the El Zorro and Espina Gold Projects, as detailed in 14.3.

13.2 Purchase Option Agreements

13.2.1 El Zorro Project

On 17 July 2017, Tesoro Chile entered into an agreement with José Agustín Bahamondes Améstica, under which Tesoro has the right to earn up to an 80% interest in El Zorro (El Zorro Agreement).

Tesoro Chile and Sr Bahamondes hold their respective interests in El Zorro through a Chilean joint venture company, Wanaco SpA. Wanaco owns 100% of the interests in the El Zorro project tenure through a wholly owned Chilean holding company El Zorro S.C.M.

The key terms of the El Zorro Agreement are summarised below.

(a) Earning obligations and right to participating interest

The El Zorro Agreement provides that Tesoro Chile can earn up to an 80% interest in El Zorro in four stages through:

(i) reimbursing Sr Bahamondes for historical costs incurred by him and his related companies in development of El Zorro as set out

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in the ‘project payment schedule’ below (Project Payments); and

(ii) incurring expenditure on exploration and development of the project as set out in the ‘exploration commitment schedule’

below (Expenditure).

Project payment schedule:

Stage Project

Payment (USD)

Date to complete Status

Tesoro ownership achieved

1 100,000 17 January 2018 Complete 10%

2 50,000 1 October 2018 Complete 51%

3 50,000 17 January 2021 Incomplete 70%


Exploration commitment schedule:

Stage Expenditure (USD)


1 Nil Nil Nil

2 2,000,000 17 July 2020 Incomplete, approx. USD$1.5 million of expenditure has been completed, with USD$500,000 remaining to complete this stage. Tesoro has acquired a 51% beneficial ownership interest in El Zorro but must complete this expenditure requirement by July 2020 to prevent clawback to 10% ownership.

3 1,500,000 17 January 2021 Incomplete

4 Nil Nil Nil – feasibility study to be completed

Each of the participation stages set out above are independent options. This means that Tesoro Chile is not required to complete all four stages in order to acquire an interest in El Zorro. Additionally, any expenditure carried out above and beyond the amount necessary for the corresponding stage as set out in the Expenditure column above will be credited toward the Expenditure requirement for the next stage.

(b) Further rights to participating interests

Upon Tesoro Chile earning an 80% interest and the completion of a definitive feasibility study, the parties have agreed to negotiate in good faith to finalise an agreement to give Tesoro the option to acquire the remaining 20% interest in El Zorro.

Should Tesoro Chile earn an 80% interest but not acquire the final 20% interest in El Zorro, Sr Bahamondes’ interest will cease to be a free-carried interest and as such will be subject to dilution if Sr Bahamondes does not contribute his pro rata share of expenditure calls following the completion of stage 4 of the earn-in.

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Tesoro Chile also has a right of first refusal over Sr Bahamondes’ interest in

the project, such that he must offer his interest in the project to Tesoro Chile before he can sell to a third party.

As at the date of this Prospectus, Tesoro Chile owns 51% of El Zorro and is required to spend approximately USD$2,000,000, being the balance of the Stage 2 and Stage 3 project payments as set out in the table at Section 13.2.1(a) above (in addition to the remaining project payments) prior to January 2021 in order to earn 70% and complete a feasibility study by January 2022 to earn 80%, as set out in the table above.

13.2.2 Espina Project

On 11 December 2017, Tesoro Chile entered into a share purchase agreement with Inversiones Cabo de la Esperanza Limitada (Inversiones) and Colonial Resources S.C.M (Colonial) (together, the Espina Vendors), under which Tesoro Chile has the right to earn up to a 100% interest in Espina (Espina Agreement).

Tesoro Chile and the Espina Vendors will hold their respective interests in Espina through a Chilean joint venture company, Nueva Colonial S.C.M (Nueva). As at the date of this Prospectus, Tesoro Chile has not yet acquired an interest in Nueva.

The key terms of the Espina Agreement are summarised below.


The Espina Agreement provides that Tesoro Chile can earn up to a 90% interest in Espina in four stages through:

(i) reimbursing the Espina Vendors for historical costs incurred by them in development of Espina as set out in the ‘project payment

schedule’ below; and

(ii) incurring expenditure on exploration and development of the project as set out in the ‘exploration commitment schedule’ below.

Project payment schedule:

Stage Project

Payment (USD)



1 135,000 11 Dec 2019 USD$85,000 completed, USD$50,000 remaining.

30.50%

2 50,000 11 Dec 2020 Incomplete 60%

3 50,000 11 Dec 2021 Incomplete 70%

4 50,000 11 Dec 2022 Incomplete 90%

5 4,000,000 11 Dec 2023 Incomplete – this can be paid by cash or shares.

100%

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Exploration commitment schedule:

Stage Expenditure (USD)


1 750,000 11 Sept 2020 The Company has incurred approx. USD300,000 as at the date of this Prospectus.

2 750,000 11 Sept 2021 Incomplete

3 1,500,000 11 Sept 2022 Incomplete

4 1,500,000 11 Sept 2023 Incomplete

5 Nil Nil Nil

Once mineral extraction or the sale of ore at any mine within the perimeter of the Espina project area has commenced and the first four stages have been completed, Tesoro Chile may elect to proceed with the fifth stage and acquire the remaining 10% of Espina by paying USD4,000,000 to the Espina Vendors (in cash or through the issue of Shares at the election of Tesoro Chile). As required by the Listing Rules and ASX policy, this amount will be paid in escrowed Shares if the Company elects to exercise this option within two years from re-listing.

Third Party Espina Option Agreement

Two of the concessions forming part of Espina (La Perseverancia 1/10 de Paine and La Esperanza Segunda 1/10 de Paine) are currently owned by third parties, SLM La Perseverancia (Perseverancia) and SLM La Esperanza Segunda (Esperanza).

In order to complete the acquisition of these two concessions, Nueva must make the following payments totalling USD348,800 to Perseverancia and Esperanza:

Payment due date Price for Perseverancia (USD) Price for Esperanza (USD)

7 December 2019 45,000 10,000

7 December 2020 244,575 49,225

Nueva will fund these payments from Tesoro Chile’s USD750,000 in expenditure commitments due under stage 1 of the Espina farm-in under the Espina Agreement.

13.3 Lead Manager Mandate

Tesoro entered into a mandate dated 11 July 2019 with PAC Partners for lead manager services (Lead Manager Mandate), the material terms and conditions of which are set out below:

(a) (Scope of Work): PAC Partners will assist Tesoro with:

(i) Corporate Advisory services including:

(A) introduction of potential transactions prior to, and/ or proceeding, Offer;

(B) assist in meetings with key stakeholders; and

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(C) assist with researching and appointing additional advisors;

(ii) Lead Management services in relation to the Offer, including:

(A) Structuring: assisting the Company to determine the pricing, offer mechanism and timing of the issue, liaise with appropriate Australian regulatory authorities including ASIC and ASX and assisting the Company in developing a general strategy for successfully completing the Offer;

(B) Documentation: assist in the preparation of the Company’s required Offer documentation;

(C) Due diligence: PAC Partners will familiarise itself with the business, operations, properties, financial condition and prospects of the Company and Tesoro and participate in the due diligence process;

(D) Marketing of the Offer to PAC Partners’ network and facilitate presentations to institutional investors, assist in determining domestic and offshore demand for the Company’s Shares and assist the Company with the identification of suitable cornerstone investors.

(b) (Remuneration): PAC Partners will receive:

(i) a capital raising fee of 6% (plus GST) of the gross proceeds of the Offer;

(ii) subject to successful completion of the Offer, PAC Partners will receive 19,166,667 Shares, which will be subject to escrow restrictions for two (2) years from the date of issue;

(iii) 625,000 Shares to as fees for assisting in raising funds for the Company under the Convertible Loan as set out in Section 13.1(c); and

(iv) a corporate advisory retainer of $11,000 per month (plus GST) for 12 months following completion of the Offer.

(c) (Termination): The Lead Manager Mandate is for a fixed term terminating 12 months from completion of the Offer. PAC Partners may terminate the Lead Manager Mandate if written notice of a breach is given to the other party, and the breach is not remedied within 14 days of written notice.

Otherwise, the Lead Manager Mandate contains other terms customary for an agreement of its nature.

13.4 Converting Loan Agreements

The Company has entered into converting loan agreements with various lenders (Lenders), pursuant to which the Company has been loaned a total of $300,000 (Loans) (Converting Loan Agreements).

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The material terms of the Converting Loan Agreements are as follows:

(a) (Interest): The Convertible Loan Agreement is interest free and unsecured.

(b) (Conversion): The principal amount of $300,000 owing under the Converting Loan Agreements will convert into equity in the Company on completion of the Offer and the Acquisition, at a conversion price that is 20% less than the issue price of Shares issued pursuant to the Offer (each on a post-Consolidation basis) (Converting Loan Shares). A total of 12,500,000 Converting Loan Shares will be issued to the Lenders.

Otherwise, the Convertible Loan Agreements contain representations, warranties, events of default and other terms considered standard for an agreement of this nature.

13.5 Executive Services Agreement – Zeffron Reeves

Mr Zeffron Reeves has entered into an Executive Services Agreement with the Company, the material terms of which are summarised at Section 11.4.1.

13.6 Non-Executive Appointment Letters

Each of Messrs John Toll and Geoffrey McNamara has entered into a non-executive letter of appointment with the Company, the material terms of which are summarised at Sections 11.4.2(a) and 11.4.2(b).

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14. ADDITIONAL INFORMATION

14.1 Litigation

The Company is not involved in any legal proceedings and the Directors are not aware of any legal proceedings pending or threatened against the Company.

14.2 Rights and liabilities attaching to Shares (including Shares to be issued under the Offer)

The following is a summary of the more significant rights and liabilities attaching to Shares being offered pursuant to this Prospectus. This summary is not exhaustive and does not constitute a definitive statement of the rights and liabilities of Shareholders. To obtain such a statement, persons should seek independent legal advice.

Full details of the rights and liabilities attaching to Shares are set out in the Constitution, a copy of which is available for inspection at the Company’s

registered office during normal business hours.

(a) General meetings

Shareholders are entitled to be present in person, or by proxy, attorney or representative to attend and vote at general meetings of the Company.

Shareholders may requisition meetings in accordance with section 249D of the Corporations Act and the Constitution of the Company.

(b) Voting rights

Subject to any rights or restrictions for the time being attached to any class or classes of shares, at general meetings of Shareholders or classes of shareholders:

(i) each Shareholder entitled to vote may vote in person or by proxy, attorney or representative;

(ii) on a show of hands, every person present who is a Shareholder or a proxy, attorney or representative of a Shareholder has one vote; and

(iii) on a poll, every person present who is a Shareholder or a proxy, attorney or representative of a Shareholder shall, in respect of each fully paid Share held by him, or in respect of which he is appointed a proxy, attorney or representative, have one vote for each Share held, but in respect of partly paid shares shall have such number of votes as bears the same proportion to the total of such Shares registered in the Shareholder’s name as the

amount paid (not credited) bears to the total amounts paid and payable (excluding amounts credited).

(c) Dividend rights

Subject to the rights of any preference Shareholders and to the rights of the holders of any shares created or raised under any special arrangement as to dividend, the Directors may from time to time declare a dividend to be paid to the Shareholders entitled to the dividend which shall be payable on all Shares according to the proportion that the

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amount paid (not credited) is of the total amounts paid and payable (excluding amounts credited) in respect of such Shares.

The Directors may from time to time pay to the Shareholders any interim dividends as they may determine. No dividend shall carry interest as against the Company. The Directors may set aside out of the profits of the Company any amounts that they may determine as reserves, to be applied at the discretion of the Directors, for any purpose for which the profits of the Company may be properly applied.

Subject to the ASX Listing Rules and the Corporations Act, the Company may, by resolution of the Directors, implement a dividend reinvestment plan on such terms and conditions as the Directors think fit.

(d) Winding-up

If the Company is wound up, the liquidator may, with the authority of a special resolution, divide among the shareholders in kind the whole or any part of the property of the Company, and may for that purpose set such value as he considers fair upon any property to be so divided, and may determine how the division is to be carried out as between the Shareholders or different classes of Shareholders.

(e) Shareholder liability

As the Shares under the Prospectus are fully paid shares, they will not be subject to any calls for money by the Directors and will therefore not become liable for forfeiture.

(f) Transfer of Shares

Generally, Shares in the Company are freely transferable, subject to formal requirements, the registration of the transfer not resulting in a contravention of or failure to observe the provisions of a law of Australia and the transfer not being in breach of the Corporations Act or the ASX Listing Rules.

(g) Future increase in capital

The issue of any new Shares is under the control of the Board of the Company as appointed from time to time. Subject to restrictions on the issue or grant of Securities contained in the ASX Listing Rules, the Constitution and the Corporations Act (and without affecting any special right previously conferred on the holder of an existing Share or class of shares), the Directors may issue Shares and other Securities as they shall, in their absolute discretion, determine.

(h) Variation of rights

Under Section 246B of the Corporations Act, the Company may, with the sanction of a special resolution passed at a meeting of Shareholders vary or abrogate the rights attaching to Shares.

If at any time the share capital is divided into different classes of shares, the rights attached to any class (unless otherwise provided by the terms of issue of the shares of that class) may be varied or abrogated with the consent in writing of the holders of three quarters of the issued shares of

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that class, or if authorised by a special resolution passed at a separate meeting of the holders of the shares of that class.

(i) Alteration of Constitution

In accordance with the Corporations Act, the Constitution can only be amended by a special resolution passed by at least three quarters of votes validly cast for Shares at the general meeting. In addition, at least 28 days written notice specifying the intention to propose the resolution as a special resolution must be given.

14.3 Rights and liabilities attaching to Performance Rights

The following is a summary of the key terms and conditions of the Performance Rights that are to be issued by PKA:

(a) (Notification to holder): PKA shall notify the holder in writing when the relevant milestones applicable to the particular Performance Right have been satisfied.

(b) (Vesting): Subject to (e), (g) and (h), Performance Rights, that have not lapsed, shall vest on the later to occur of:

(i) the date that the Milestone relating to that Performance Right has been satisfied; and

(ii) the date that the holder gives a notice to PKA confirming that the holder would like the Performance Rights to vest.

(c) (Milestones): The relevant milestones attaching to the Performance Rights are as follows:

Class Number Milestone Expiry Date

Class A 46,720,000 PKA establishing an Inferred Resource of equal or greater than 250,000 ounces equivalent at a gold grade of 1 gram per tonne or greater, as defined by the JORC Code at the El Zorro Project or the Espina Project.

18 months after Completion.

Class B 50,060,000 PKA establishing an Inferred Resource of equal or greater than 1 million ounces equivalent, at a gold grade of 1 gram per tonne or greater, as defined by the JORC Code at the El Zorro Project or the Espina Project.


Class C 20,030,000 PKA establishing an Inferred Resource of equal or greater than 2 million ounces equivalent, at a gold grade of 1 gram per tonne or greater, as defined by the JORC Code at the El Zorro Project or the Espina Project.


Class D 20,030,000 PKA completing either a Bankable Feasibility Study or a Definitive Feasibility Study in relation to any


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Class Number Milestone Expiry Date resource (as defined by the JORC Code) at the El Zorro Project or the Espina Project, confirming the relevant project is commercially viable.

(d) (Consideration): The Performance Rights will be issued for nil consideration each and no consideration will be payable upon the vesting of the Performance Rights.

(e) (Conversion): Upon satisfaction of the relevant Milestone, each Performance Right will, at the election of the holder, vest and convert into one (1) Share.

(f) (Lapsing): Unless otherwise determined by the Board in its sole and absolute discretion, any unvested Performance Rights will lapse on the earlier of:

(i) the date that the Milestone relating to that Performance Right must have been satisfied;

(ii) where a holder has acted fraudulently, dishonestly or wilfully breaching their duties to PKA; or

(iii) the expiry date of the Performance Right (if any).

(g) (Share ranking): All Shares issued upon the vesting of Performance Rights will upon issue rank pari passu in all respects with other Shares.

(h) (Listing of Shares on ASX): PKA will not apply for quotation of the Performance Rights on ASX. However, PKA will apply for quotation of all Shares issued pursuant to the vesting of Performance Rights on ASX within the period required by ASX.

(i) (Transfer of Performance Rights): A Performance Right is not transferable.

(j) (Participation in new issues): There are no participation rights or entitlements inherent in the Performance Rights and holders will not be entitled to participate in new issues of capital offered to PKA shareholders during the currency of the Performance Rights.

(k) (Adjustment for bonus issue): If securities are issued pro-rata to PKA shareholders generally by way of bonus issue (other than an issue in lieu of dividends or by way of dividend reinvestment), the number of Performance Rights to which each holder is entitled, will be increased by that number of securities which the holder would have been entitled if the Performance Rights held by the holder were vested immediately prior to the record date of the bonus issue, and in any event in a manner consistent with the Corporations Act and the ASX Listing Rules at the time of the bonus issue.

(l) (Adjustment for reconstruction): If, at any time, the issued capital of PKA is reorganised (including consolidation, subdivision, reduction or return), all rights of a holder of a Performance Right (including the vesting conditions) are to be changed in a manner consistent with the

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Corporations Act and the ASX Listing Rules at the time of the reorganisation.

(m) (Dividend and Voting Rights): A Performance Right does not confer upon the holder an entitlement to vote or receive dividends.

(n) (No rights to return of capital): A Performance Right does not entitle the holder to a return of capital, whether in a winding up, upon a reduction of capital or otherwise of PKA.

(o) (No rights on winding up): A Performance Right does not entitle the holder to participate in the surplus profits or assets of PKA upon winding up.

(p) (No other rights): A Performance Right gives the holder no rights other than those expressly provided by these terms and those provided at law where such rights at law cannot be excluded by these terms.

(q) (Change of control): If there is a change in control event in relation to PKA (e.g., a takeover bid for all the Shares in PKA which obtains acceptances for at least 50.1% and is declared unconditional or via a scheme of arrangement by which more than 50% of the Shares in PKA change ownership and which is approved by shareholders at a court convened meeting) then any unvested Performance Rights will automatically vest on a one-for-one basis up to a maximum number of shares that is equal to 10% of the PKA shares on issue immediately following conversion under this paragraph. The conversion will be completed on a pro rata basis across each class of Performance Right then on issue as well as on a pro rata basis for each holder.

(r) (Deferral of conversion if resulting in a prohibited acquisition of Shares): If the conversion of a Performance Right would result in any person being in contravention of section 606(1) of the Corporations Act 2001 (Cth) (General Prohibition) then the conversion of that Performance Right shall be deferred until such later time or times that the conversion would not result in a contravention of the General Prohibition. In assessing whether a conversion of a Performance Right would result in a contravention of the General Prohibition:

(i) holders may give written notification to PKA if they consider that the conversion of a Performance Right may result in the contravention of the General Prohibition. The absence of such written notification from the holder will entitle PKA to assume the conversion of a Performance Right will not result in any person being in contravention of the General Prohibition.

(ii) PKA may (but is not obliged to) by written notice to a holder request a holder provide the written notice referred to the paragraph immediately above within seven days, if PKA considers that the conversion of a Performance Right may result in a contravention of the General Prohibition. The absence of such written notification from the holder will entitle PKA to assume the conversion of a Performance Right will not result in any person being in contravention of the General Prohibition.

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14.4 Incentive Plan

Subject to Shareholder approval at the AGM, the Company will adopt the Performance Rights and Option Plan (Plan), the key terms of which are as follows:

(a) (Eligibility): Participants in the Plan may be:

(i) a Director (whether executive or non-executive) of the Company and any Associated Body Corporate of the Company (each, a Group Company);

(ii) a full or part time employee of any Group Company;

(iii) a casual employee or contractor of a Group Company to the extent permitted by ASIC Class Order 14/1000 as amended or replaced (Class Order); or

(iv) a prospective participant, being a person to whom the offer is made but who can only accept the offer if an arrangement has been entered into that will result in the person becoming a participant under subparagraphs 14.4(a)(i), 14.4(a)(ii), or 14.4(a)(iii) above,

who is declared by the Board to be eligible to receive grants of Options or Performance Rights (Awards) under the Plan (Eligible Participant).

(b) (Offer): The Board may, from time to time, in its absolute discretion, make a written offer to any Eligible Participant to apply for Awards, upon the terms set out in the Plan and upon such additional terms and conditions as the Board determines.

(c) (Plan limit): The Company must have reasonable grounds to believe, when making an offer, that the number of Shares to be received on exercise of Awards offered under an offer, when aggregated with the number of Shares issued or that may be issued as a result of offers made in reliance on the Class Order at any time during the previous 3 year period under an employee incentive scheme covered by the Class Order or an ASIC exempt arrangement of a similar kind to an employee incentive scheme, will not exceed 5% of the total number of Shares on issue at the date of the offer.

(d) (Issue price): Performance Rights granted under the Plan will be issued for nil cash consideration. Unless the Options are quoted on the ASX, Options issued under the Plan will be issued for no more than nominal cash consideration.

(e) (Vesting Conditions): An Award may be made subject to vesting conditions as determined by the Board in its discretion and as specified in the offer for the Awards (Vesting Conditions).

(f) (Vesting): The Board may in its absolute discretion (except in respect of a change of control occurring where Vesting Conditions are deemed to be automatically waived) by written notice to a Participant (being an Eligible Participant to whom Awards have been granted under the Plan or their nominee where the Awards have been granted to the nominee

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of the Eligible Participant (Relevant Person)), resolve to waive any of the Vesting Conditions applying to Awards due to:

(i) special circumstances arising in relation to a Relevant Person in respect of those Awards, being:

(A) a Relevant Person ceasing to be an Eligible Participant due to:

(I) death or total or permanent disability of a Relevant Person; or

(II) retirement or redundancy of a Relevant Person;

(B) a Relevant Person suffering severe financial hardship;

(C) any other circumstance stated to constitute “special

circumstances” in the terms of the relevant offer made

to and accepted by the Participant; or

(D) any other circumstances determined by the Board at any time (whether before or after the offer) and notified to the relevant Participant which circumstances may relate to the Participant, a class of Participant, including the Participant or particular circumstances or class of circumstances applying to the Participant,

(Special Circumstances), or

(ii) a change of control occurring; or

(iii) the Company passing a resolution for voluntary winding up, or an order is made for the compulsory winding up of the Company.

(g) (Cashless Exercise of Options): At the discretion of the Board, Options issued under the Plan may include a cashless exercise facility, which operates so that In lieu of paying the aggregate Exercise Price on exercise of Options, an Eligible Participant may elect to receive, without payment of cash or other consideration, upon surrender of the applicable portion of exercisable Options to the Company, a number of Shares determined in accordance with the following formula (Cashless Exercise Facility):

A = B (C – D)

C

where:

A = the number of Shares (rounded down to the nearest whole number) to be issued to the Participant;

B = the number of Shares otherwise issuable upon the exercise of the Option or portion of the Options being exercised;

C = the Market Value of one Share determined as of the date of delivery to the Company Secretary; and

D = the Exercise Price.

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For the purposes of this Section, Market Value means, at any given date, the volume weighted average price per Share traded on the ASX over the five (5) trading days immediately preceding that given date, unless otherwise specified in an Offer.

(h) (Lapse of an Award): An Award will lapse upon the earlier to occur of:

(i) an unauthorised dealing, or hedging of, the Award occurring;

(ii) a Vesting Condition in relation to the Award is not satisfied by its due date, or becomes incapable of satisfaction, as determined by the Board in its absolute discretion, unless the Board exercises its discretion to vest the Award in the circumstances set out in paragraph 14.4(f) or the Board resolves, in its absolute discretion, to allow the unvested Awards to remain unvested after the Relevant Person ceases to be an Eligible Participant;

(iii) in respect of unvested Awards only, a Relevant Person ceases to be an Eligible Participant, unless the Board exercises its discretion to vest the Award in the circumstances set out in paragraph 14.4(f) or the Board resolves, in its absolute discretion, to allow the unvested Awards to remain unvested after the Relevant Person ceases to be an Eligible Participant;

(iv) in respect of vested Awards only, a Relevant Person ceases to be an Eligible Participant and the Award granted in respect of that Relevant Person is not exercised within a one (1) month period (or such later date as the Board determines) of the date that person ceases to be an Eligible Participant;

(v) the Board deems that an Award lapses due to fraud, dishonesty or other improper behaviour of the Eligible Participant;

(vi) the Company undergoes a change of control or a winding up resolution or order is made and the Board does not exercise its discretion to vest the Award; and

(vii) the expiry date of the Award.

(i) (Not transferrable): Subject to the ASX Listing Rules, Awards are only transferrable in Special Circumstances with the prior written consent of the Board (which may be withheld in its absolute discretion) or by force of law upon death, to the Participant’s legal personal representative or

upon bankruptcy to the participant’s trustee in bankruptcy.

(j) (Shares): Shares resulting from the exercise of the Awards shall, subject to any Sale Restrictions (refer paragraph 14.4(k)) from the date of issue, rank on equal terms with all other Shares on issue.

(k) (Sale Restrictions): The Board may, in its discretion, determine at any time up until exercise of Awards, that a restriction period will apply to some or all of the Shares issued to a Participant on exercise of those Awards (Restriction Period). In addition, the Board may, in its sole discretion, having regard to the circumstances at the time, waive any such Restriction Period.

(l) (Quotation of Shares): If Shares of the same class as those issued under the Plan are quoted on the ASX, the Company will, subject to the ASX

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Listing Rules, apply to the ASX for those Shares to be quoted on ASX within 10 business days of the later of the date the Shares are issued and the date any Restriction Period applying to the Shares ends.

(m) (No Participation Rights): There are no participation rights or entitlements inherent in the Awards and Participants will not be entitled to participate in new issues of capital offered to Shareholders during the currency of the Awards without exercising the Award.

(n) (Change in exercise price of number of underlying securities): An Award does not confer the right to a change in exercise price or in the number of underlying Shares over which the Award can be exercised.

(o) (Reorganisation): If, at any time, the issued capital of the Company is reorganised (including consolidation, subdivision, reduction or return), all rights of a Participant are to be changed in a manner consistent with the Corporations Act and the ASX Listing Rules at the time of the reorganisation.

(p) (Amendments): Subject to express restrictions set out in the Plan and complying with the Corporations Act, ASX Listing Rules and any other applicable law, the Board may, at any time, by resolution amend or add to all or any of the provisions of the Plan, or the terms or conditions of any Award granted under the Plan including giving any amendment retrospective effect.

14.5 Interests of Directors

Other than as set out in this Prospectus, no Director or proposed Director holds, or has held within the 2 years preceding lodgement of this Prospectus with ASIC, any interest in:

(a) the formation or promotion of the Company;

(b) any property acquired or proposed to be acquired by the Company in connection with:

(i) its formation or promotion; or

(ii) the Offers; or

(c) the Offers,

and no amounts have been paid or agreed to be paid and no benefits have been given or agreed to be given to a Director or proposed Director:

(d) as an inducement to become, or to qualify as, a Director; or

(e) for services provided in connection with:

(i) the formation or promotion of the Company; or

(ii) the Offers.

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14.6 Interests of Experts and Advisers

Other than as set out below or elsewhere in this Prospectus, no:

(a) person named in this Prospectus as performing a function in a professional, advisory or other capacity in connection with the preparation or distribution of this Prospectus;

(b) promoter of the Company; or

(c) underwriter (but not a sub-underwriter) to the issue or a financial services licensee named in this Prospectus as a financial services licensee involved in the issue,

holds, or has held within the 2 years preceding lodgement of this Prospectus with ASIC, any interest in:

(d) the formation or promotion of the Company;

(e) any property acquired or proposed to be acquired by the Company in connection with:

(i) its formation or promotion; or

(ii) the Offers; or

(f) the Offers,

and no amounts have been paid or agreed to be paid and no benefits have been given or agreed to be given to any of these persons for services provided in connection with:

(g) the formation or promotion of the Company; or

(h) the Offers.

PAC Partners has acted as Lead Manager for the Company in relation to the Offer. The Company estimates it will pay PAC Partners those fees as set out in Section 13.3. During the 24 months preceding lodgement of this Prospectus with ASIC, PAC Partners has not received any fees from the Company or Tesoro for their services.

RSM Corporate Australia Pty Ltd (RSM) has acted as Investigating Accountant for the Company and has prepared the Investigating Accountant’s Report which is

included at Annexure C of this Prospectus. The Company estimates it will pay RSM up to $15,000 (excluding GST) for these services. During the 24 months preceding lodgement of this Prospectus with ASIC, RSM has received fees totalling $6,780 from the Company for their services.

CSA Global Pty Ltd (CSA Global) has prepared the Independent Geologist’s

Report which is included at Annexure A of this Prospectus. The Company estimates it will pay CSA Global a total of $13,500 (excluding GST) for these services. During the 24 months preceding lodgement of this Prospectus with ASIC, CSA Global has received fees totalling $15,918 from the Company and $63,250.85 (including fees associated with the commencement of the Independent Geologist’s Report and

site visits) from Tesoro for their services.

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RSM Australia Partners has acted as auditor of the Company. During the 24 months preceding lodgement of this Prospectus with ASIC, RSM Australia Partners has received $88,275 (excluding GST) from the Company for their services.

RSM Australia Partners has acted as auditor of Tesoro. During the 24 months preceding lodgement of this Prospectus with ASIC, RSM Australia Partners has received $12,500 (excluding GST) from the Company for their services. RSM Australia Partners has also invoiced the Company a further $12,500 (excluding GST) for their services, which is yet to be paid.

Steinepreis Paganin has acted as the Australian solicitors to Company in relation to the Offer. The Company estimates that it will pay Steinepreis Paganin up to $70,000 (excluding GST) for these services related to the Prospectus. Subsequently, fees will be charged in accordance with normal charge out rates. During the 24 months preceding lodgement of this Prospectus with ASIC, Steinepreis Paganin has received fees totalling $25,767.50 in fees from the Company and $67,800 in fees from Tesoro (excluding GST and disbursements) for their services.

Barros, Silva, Varela & Vigil Abogados Ltda has acted as the Chilean solicitors to Tesoro and the Company in relation to the Offer and has prepared the Tenement Report which is included at Annexure B of this Prospectus. The Company estimates that it will pay Barros, Silva, Varela & Vigil Abogados Ltda up to $10,000 (excluding GST) for these services related to the Prospectus. Subsequently, fees will be charged in accordance with normal charge out rates. During the 24 months preceding lodgement of this Prospectus with ASIC, Barros, Silva, Varela & Vigil Abogados Ltda has received CLP 99,838,576 ($201,137) in fees from Tesoro.

14.7 Consents

Chapter 6D of the Corporations Act imposes a liability regime on the Company (as the offeror of the Securities), the Directors, the persons named in the Prospectus with their consent as Proposed Directors, any underwriters, persons named in the Prospectus with their consent having made a statement in the Prospectus and persons involved in a contravention in relation to the Prospectus, with regard to misleading and deceptive statements made in the Prospectus. Although the Company bears primary responsibility for the Prospectus, the other parties involved in the preparation of the Prospectus can also be responsible for certain statements made in it.

Each of the parties referred to in this Section 14.7:

(a) does not make, or purport to make, any statement in this Prospectus other than those referred to in this section;

(b) in light of the above, only to the maximum extent permitted by law, expressly disclaim and take no responsibility for any part of this Prospectus other than a reference to its name and a statement included in this Prospectus with the consent of that party as specified in this section.

PAC Partners has given its written consent to being named as the Lead Manager to the Offer in this Prospectus. PAC Partners has not withdrawn its consent prior to the lodgement of this Prospectus with ASIC.

RSM Australia Partners has given its written consent to being named as auditor of the Company in this Prospectus. RSM Australia Partners has not withdrawn its consent prior to lodgement of this Prospectus with ASIC.

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RSM Australia Partners has given its written consent to being named as auditor of Tesoro in this Prospectus. RSM Australia Partners has not withdrawn its consent prior to lodgement of this Prospectus with ASIC.

RSM Corporate Australia Pty Ltd has given its written consent to being named as Investigating Accountant in this Prospectus and to the inclusion of the Investigating Accountant’s Report at Annexure C of this Prospectus in the form and context in which the information and report is included. RSM Corporate Australia Pty Ltd has not withdrawn its consent prior to lodgement of this Prospectus with ASIC.

CSA Global has given its written consent for the inclusion of the Independent Geologist’s Report at Annexure A of this Prospectus in the form and context in which the information and report is included. CSA Global has not withdrawn its consent prior to lodgement of this Prospectus with ASIC.

Steinepreis Paganin has given its written consent to being named as the Australian solicitors of the Company in the Prospectus. Steinepreis Paganin has not withdrawn its consent prior to the lodgement of this Prospectus.

Barros, Silva, Varela & Vigil Abogados Ltda has given its written consent for the inclusion of the Report on Tenements at Annexure B of this Prospectus in the form and context in which the information and report is included. Barros, Silva, Varela & Vigil Abogados Ltda has not withdrawn its consent prior to lodgement of this Prospectus with ASIC.

Automic Registry Services has given its written consent to being named as share registry of the Company in this Prospectus. Automic Registry Services has not withdrawn its consent prior to lodgement of this Prospectus with ASIC.

14.8 Expenses of the Offers

The total expenses of the Offers (excluding GST) are estimated to be approximately $485,990 for the Minimum Subscription and $547,066 for the Maximum Subscription and are expected to be applied towards the items set out in the table below:

Amount $

Item of Expenditure Minimum Subscription

Maximum Subscription

ASIC fees 3,848 3,848

ASX fees 76,142 77,218

Legal fees 80,000 80,000

Investigating Accountant’s Fees 15,000 15,000

Lead Manager fees 270,000 330,000

Fees for Independent Geologist’s Report

13,500 13,500

Marketing 25,000 25,000

Other 2,500 2,500

TOTAL 485,990 547,066

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14.9 Continuous disclosure obligations

As the Company is admitted to ASX’s Official List, the Company is a “disclosing

entity” (as defined in section 111AC of the Corporations Act) and, as such, will be subject to regular reporting and disclosure obligations. Specifically, like all listed companies, the Company is required to continuously disclose any information it has to the market which a reasonable person would expect to have a material effect on the price or the value of the Company’s securities.

Price sensitive information is publicly released through ASX before it is disclosed to shareholders and market participants. Distribution of other information to shareholders and market participants is also managed through disclosure to the ASX. In addition, the Company posts this information on its website after the ASX confirms an announcement has been made, with the aim of making the information readily accessible to the widest audience.

14.10 Electronic Prospectus

If you have received this Prospectus as an electronic Prospectus, please ensure that you have received the entire Prospectus accompanied by the Application Form and have fully read those documents. If you have not, please contact the Company and the Company will send you, for free, either a hard copy or a further electronic copy of this Prospectus or both. Alternatively, you may obtain a copy of this Prospectus from the website of the Company at www.plukka.com.

The Corporations Act prohibits any person from passing on to another person the Application Form unless it is attached to or accompanies a hard copy of the Prospectus or a complete and unaltered electronic copy of this Prospectus. The Company reserves the right not to accept an Application Form from a person if it has reason to believe that when that person was given access to the electronic Application Form, the Application Form was not provided together with the electronic Prospectus and any relevant supplementary or replacement prospectus or any of those documents were incomplete or altered.

14.11 Governing law

The Offers and the contracts formed on return of an Application Form are governed by the laws applicable in Western Australia, Australia. Each person who applies for Shares pursuant to this Prospectus submits to the non-exclusive jurisdiction of the courts of Western Australia, Australia, and the relevant appellate courts.

http://www.tesororesources.com.au/

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15. DIRECTORS’ AUTHORISATION

This Prospectus is issued by the Company and its issue has been authorised by a resolution of the Directors.

In accordance with section 720 of the Corporations Act, each Director has consented to the lodgement of this Prospectus with ASIC.

_______________________________ Zeffron Reeves Proposed Managing Director For and on behalf of TESORO RESOURCES LIMITED

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16. GLOSSARY

Where the following terms are used in this Prospectus they have the following meanings:

Acquisition means the Company’s acquisition of Tesoro pursuant to the Acquisition Agreement.

Acquisition Agreement means the full form share purchase agreement executed by the Company and Tesoro on 3 October 2019 pursuant to which the Company agreed to acquire 100% of the issued capital of Tesoro in consideration for the Consideration Shares, the material terms of which are summarised in Section 13.1.

Acquisition Resolutions means those resolutions referred to in Section 6.4 of this Prospectus to be considered at the AGM and General Meeting, as described in further detail in the Notice of AGM and Notice of General Meeting.

AFS means Australian Financial Services.

AFSL means an Australian Financial Services Licence.

AGM means the annual general meeting convened by the Notice of Meeting, scheduled to occur on 7 November 2019 at 9am (WST).

Applicant means a party that completes an Application Form and submits it to the Company in accordance with this Prospectus relating to the Offer.

Application Form means an application form attached to or accompanying this Prospectus relating to the Offer.

ASIC means Australian Securities & Investments Commission.

ASX means ASX Limited (ACN 008 624 691) or the financial market operated by ASX Limited, as the context requires.

ASX Listing Rules means the Listing Rules of ASX.

Authorised Representative means an authorised representative of an Australian Financial Services Licencee.

Board means the board of Directors as constituted from time to time.

Business Day means Monday to Friday inclusive, except New Year’s Day, Good Friday, Easter Monday, Christmas Day, Boxing Day, and any other day that ASX declares is not a business day.

CHESS means the Clearing House Electronic Sub-register System.

Cleansing Offer means the offer of 1,000 Shares at an issue price of $0.03 per Share to raise $30 pursuant to this Prospectus.

Cleansing Offer Closing Date means the closing date of the Cleansing Offer as set out in Section 3 (subject to the Company reserving the right to extend the Cleansing Offer Closing Date or close the Cleansing Offer early).

Closing Date means the closing date of the Offer as set out in the indicative timetable in Section 3 of this Prospectus (subject to the Company reserving the right to extend the Closing Date or close the Offer early).

Company or PKA means Plukka Limited (to be renamed ‘Tesoro Resources Limited’) (ACN 106 854 175).

Conditional Approval means the letter issued by the ASX to the Company stating the conditions that are required to be met by the Company in order to re-comply with Chapters 1 and 2 of the ASX Listing Rules for re-quotation of its Shares on the Official List.

Conditions has the meaning set out in Section 2.4.

Consideration Shares means 112,294,158 Shares to be issued to the Tesoro Shareholders on Completion as consideration of the Acquisition.

Consolidation means the 4 for 15 consolidation of the Company’s issued capital.

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Constitution means the constitution of the Company.

Converting Loan Agreements means the converting loan agreements between the Company and the Lenders to raise a total of $300,000.

Converting Loan Shares means the Shares that are to be issued to the Lenders pursuant to the Converting Loan Agreements.

Corporations Act means the Corporations Act 2001 (Cth).

Debt Conversion Share has the meaning set out in Section 7.4.

Debt Conversion Option has the meaning set out in Section 7.4.

Directors means the current directors of the Company at the date of this Prospectus.

Director Loan means the loan provided to Tesoro by Linkwood Holdings Pte Ltd and Tanamera Resources Pte Ltd (entities incorporated in Singapore), which are both entities associated with Mr Geoff McNamara (a proposed Non-Executive Director of the Company following completion of the Offer)

El Zorro means the El Zorro Gold Project as set out in Section 8.3.1.

Espina means the Espina Gold Project as set out in Section 8.3.2.

General Meeting means the general meeting convened by the Notice of General Meeting, scheduled to occur on 21 November 2019 at 9am (WST) for the purpose of approving the issue of Performance Rights to proposed Directors Geoffrey McNamara and Zeffron Reeves (or their nominees).

Independent Geologist’s Report means the Independent Technical Assessment Report prepared by CSA Global Pty Ltd (ABN 67 077 165 532) attached to this Prospectus as Annexure A.

Investigating Accountant’s Report means the report attached at Annexure C.

Lead Manager or PAC Partners means PAC Partners Securities Pty Ltd (ACN 623 653 912), Authorised Representative (Australian Financial Services Authorised Representative Number 00 126 1290) of PAC Asset Management Pty Ltd (AFSL000 335 374).

Lead Manger Mandate has the meaning given to it in Section 13.3.

Lenders means the lenders who have entered into Converting Loan Agreements with the Company.

Maximum Subscription means the maximum amount to be raised pursuant to the Offer, being $5,500,000.

Milestones refers to the milestones that must be satisfied in relation to the Performance Rights as detailed in 14.3.

Minimum Subscription means the minimum amount to be raised under the Offer, being $4,500,000.

Notice of AGM means the notice of annual general meeting, including the explanatory statement and proxy form, released on ASX on 7 October in relation to the AGM.

Notice of General Meeting means the notice of general meeting, including the explanatory statement and proxy form, released on ASX on 21 October 2019 in relation to the General Meeting for the purpose of approving the issue of Performance Rights to proposed Directors Messrs Geoffrey McNamara and Zeffron Reeves (or their nominees).

Offer means the offer pursuant to this Prospectus of 150,000,000 Shares at an issue price of $0.03 per Share to raise $4,500,000. Oversubscriptions of up to a further 33,333,333 Shares at an issue price of $0.03 per Share to raise up to a further $1,000,000 may be accepted.

Offers means the Offer and the Cleansing Offer.

Official List means the official list of ASX.

3571-05/2250444_9 97

Official Quotation means official quotation by ASX in accordance with the ASX Listing Rules.

Option means an option to acquire a Share.

Performance Rights mean the performance rights of the Company on the terms set out in 14.3 of this Prospectus.

Projects means the El Zorro Gold Project and the Espina Gold Projects.

Proposed Directors means Mr Zeffron Reeves and Mr Geoffrey McNamara.

Prospectus means this prospectus.

Section means a section of this Prospectus.

Security has the same meaning as that given in the ASX Listing Rules.

Share means a fully paid ordinary share in the capital of the Company.

Shareholder means a registered holder of a Share.

Solicitor’s Tenement Report means the report attached at Annexure B.

Tesoro means Tesoro Resources Limited (ACN 618 093 306).

Tesoro Share means a fully paid ordinary share in the capital of Tesoro.

Tesoro Shareholders means a holder of a Tesoro Share and the vendors under the Acquisition Agreement.

Vendors means both of Mr Zeffron Reeves and Linkwood Holdings Pte Ltd (an entity incorporated in Singapore), being the two largest shareholders in Tesoro.

WST means Australian Western Standard Time as observed in Perth, Western Australia.

3571-05/2250444_9 100

ANNEXURE A – INDEPENDENT GEOLOGIST ’S REPORT

INDEPENDENT TECHNICAL

ASSESSMENT REPORT

Plukka Limited El Zorro Gold

Project and Espina Gold/Copper

Project, Chile

CSA Global Report Nº R226.2018 24 October 2019

www.csaglobal.com

PLUKKA LIMITED Independent Technical Assessment Report – El Zorro and Espina Projects

CSA Global Report Nº R465.2019 I

Report prepared for

Client Name Plukka Limited

Project Name/Job Code TESITA02

Contact Name Zeffron Reeves

Contact Title Managing Director

Office Address Plukka Limited Level 42, Rialto South Tower 525 Collins Street Melbourne Vic 3000

Report issued by

CSA Global Office

CSA Global Pty Ltd

Level 2, 3 Ord Street

West Perth, WA 6005

AUSTRALIA

PO Box 141

West Perth WA 6872

AUSTRALIA

T +61 8 9355 1677

F +61 8 9355 1977

E [email protected]

Division Corporate

Report information

Filename R226.2018 TESITA02 Plukka ITAR El Zorro Espina - FINAL.docx

Last Edited 29/10/19 17:00:00

Report Status Draft

Author and Reviewer Signatures

Coordinating Author

Ian Stockton

B.Sc., MAusIMM, FAIG, RPGeo Signature:

Contributing Author

Dr Federico Cernuschi

PhD, MSc, BSc (Hons) AIGP Signature:

Peer Reviewer Ralph Porter

MSc, BSc Geology, MAIG, MSEG Signature:

CSA Global Authorisation

Graham Jeffress

BSc (Hons) Applied Geology, RPGeo, FAIG, FAusIMM, FSEG,

MGSA

Signature:


CSA Global Report Nº R465.2019 II

Executive Summary

Plukka Limited (Plukka) commissioned CSA Global Pty Ltd (CSA Global) to prepare an Independent Technical

Assessment Report (ITAR) for the El Zorro Gold Project and Espina Gold/Copper Project, both located in Chile.

The ITAR has been prepared in accordance with the VALMIN Code, which is binding upon Members of the

Australian Institute of Geoscientists (AIG) and the Australasian Institute of Mining and Metallurgy (AusIMM),

the JORC Code and the rules and guidelines issued by such bodies as ASIC and ASX that pertain to Technical

and Independent Expert Reports.

The El Zorro Project is located 130 km from Copiapo in Region 3, Atacama, in northern Chile; and the Espina

Project is located 44 km southwest from Santiago city (Figure 1).

Figure 1: Location of Tesoro project areas, Chile


CSA Global Report Nº R465.2019 III

The oldest rocks in the El Zorro area are Palaeozoic sediments of probable Devonian to Lower Carboniferous

age which has been intruded by a Jurassic diorite body of the Coastal Batholith Series which has thermally

metamorphosed the sediments around the intrusion contact area.

Historical mining by artisanal workers at El Zorro is limited and has largely concentrated on early stage quartz

veins in and around the Coquetas prospect (i.e. the mineralised diorite).

Coeur d’Alene Mines Corporation completed exploration between April 1990 and January 1993, including 68

drill holes for 7,601m and excavation of several adits as part of its exploration and assessment program.

Tesoro has compiled historical exploration activities for the Concession and surrounding areas and entered

this data into a database.

Tesoro has completed a program of 16 drill holes for 3,085m with significant drill results listed in Table 1. The

description of results is detailed section 2.8 Exploration by Tesoro and assay, collar and survey details in

Appendix 4. The relevant information regarding sampling QAQC and other pertinent aspects such as

sampling are included in Appendix 6, JORC Table 1.

The historical CDE drilling at the El Zorro project is of poor quality and not considered to be reported in

accordance with JORC standards. Therefore, Tesoro used this information for indicative targeting purposes

only.

CSA Global consider the recent drilling by Tesoro to be reported in accordance with JORC standard and

provides encouragement for further positive exploration results.

Table 1: Significant downhole drill results from Tesorro 2017-2018 drilling program at the El Zorro Project

Hole ID From (m) To (m) Interval Au (g/t)

ZDDH0002 5.70 68.00 62.30 0.54

including 8.80 24.30 15.50 1.15

ZDDH0003 21.00 77.30 56.30 0.50

ZDDH0004 5.00 66.00 61.00 0.97

including 56.00 66.00 10.00 4.53

including 57.00 61.00 4.00 9.60

ZDDH0005 4.00 42.65 38.65 0.65

including 9.80 28.00 18.20 1.17

ZDDH0007 39.00 66.20 27.20 0.70

including 39.00 58.00 19.00 0.80

ZDDH0009 12.55 38.00 25.45 0.51

ZDDH0010 75.00 159.30 84.30 1.30

including 75.00 104.00 29.00 2.95

including 91.00 102.00 11.00 4.70

ZDDH0011 176.00 274.30 98.30 1.58

including 181.70 212.00 30.30 3.03

including 196.40 212.00 15.60 3.87

ZDDH0012 0.00 58.80 58.80 1.70

ZDDH0013 46.30 70.00 23.70 0.85

ZDDH0014 15.30 70.60 55.30 1.01

including 15.30 34.00 18.70 2.19

ZDDH0016 152.00 204.60 52.60 0.62

Full details of the drilling information, including individual assays and JORC Table 1 are included in Appendix 4 and Appendix 6


CSA Global Report Nº R465.2019 IV

The Espina property is located on the eastern margin of the coastal Cordillera of central Chile within the

coastal range Cretaceous magmatic belt. The Espina property is underlain by a sequence of Upper Cretaceous

felsic volcanic ash flows with lesser intermediate volcanic flows.

The Espina Project contains several epithermal vein systems with historical mine workings and prospects that

were mined during the early to mid-1900s. Modern exploration activities commenced in 2009 with Colonial

Resources SCM.

The geology and mineralisation at Espina are analogous to the Alhué intermediate-sulphidation epithermal

vein-type Au-Ag-Zn deposits at Yamana’s La Florida mine, 24 km to the south.

Several programs of mapping and geochemical sampling including channel rock chip, grab rock chip and soil

sampling have been undertaken on the various prospects with encouraging results. No drilling has been

completed on the property.

In CSA Global’s opinion, the Tesoro projects in Chile have good potential for further exploration success with

two key projects – El Zorro and Espina.

The epithermal mineralisation defined by historical workings at Espina and the surrounding alteration and

geochemistry are encouraging, providing an advanced project which has yet to be drill tested. As such, CSA

Global consider this an exploration target that warrants further work.

The approach to exploration by Tesoro has been successful to date and CSA Global also recommends the

following:

• El Zorro Project:

o Further drilling to test the plunge and down-dip positions of vein systems and to drill test offsets to

the north may add valuable information on the grade distribution

o Core drilling with a suitable electronic orientation device is recommended to generate better three-

dimensional orientation data of vein orientations over the full strike of mineralisation

o Topographic control using a suitable system such as light detection and ranging (LiDAR) or from the

products derived from airborne geophysical surveys

o Complete metallurgical testwork

o Continued quality assurance/quality control (QAQC) on all drilling and any sampling completed (rock

chip, channels etc.).

• Espina Project:

o With the significant number of prospects on the concession, a system of ranking and prioritising the

prospects is recommended to ensure the prospects are evaluated in a systematic order with the

better prospects targeted first

o Evaluation of soil geochemical sampling methodology to ensure the correct sampling medium is

sampled, given the scree slope and potential associated issues of thin soil cover

o The terrain and exposure of prospects makes trenching and slope cuts an appropriate exploration

technique for testing structures, particularly between known prospects

o Continued QAQC on all drilling and any sampling completed (rock chip, channel samples etc.).


CSA Global Report Nº R465.2019 V

Contents

Report prepared for ............................................................................................................................................ I

Report issued by .................................................................................................................................................. I

Report information ............................................................................................................................................. I

Author and Reviewer Signatures ......................................................................................................................... I

EXECUTIVE SUMMARY........................................................................................................................................... II

1 INTRODUCTION .......................................................................................................................................... 1

1.1 Context, Scope and Terms of Reference ................................................................................................. 1

1.2 Compliance with the VALMIN and JORC Codes ...................................................................................... 1

1.3 Principal Sources of Information and Reliance on Other Experts ........................................................... 1

1.4 Authors of the Report ............................................................................................................................. 2

1.5 Declarations ............................................................................................................................................ 3 1.5.1 Purpose of this Document ............................................................................................................... 3 1.5.2 Competent Person’s Statement ....................................................................................................... 3 1.5.3 Site Inspection ................................................................................................................................. 4

1.6 About this Report .................................................................................................................................... 4

2 EL ZORRO PROJECT ..................................................................................................................................... 5

2.1 Location, Access and Infrastructure ........................................................................................................ 5

2.2 Climate, Topography and Vegetation ..................................................................................................... 5

2.3 Ownership and Tenure ........................................................................................................................... 6

2.4 Geology ................................................................................................................................................... 6 2.4.1 Regional Geology and Metallogenesis ............................................................................................. 6 2.4.2 Local Geology ................................................................................................................................... 8 2.4.3 Structure ........................................................................................................................................ 10

2.5 Historical Mining and Exploration ......................................................................................................... 12

2.6 Mineralisation ....................................................................................................................................... 12 2.6.1 Early Mineralisation ....................................................................................................................... 12 2.6.2 Main Gold Mineralisation Event .................................................................................................... 13 2.6.3 Mineralisation Style ....................................................................................................................... 13

2.7 Recent Exploration Activities ................................................................................................................ 14 2.7.1 Exploration by Coeur d’Alene Mines Corporation ......................................................................... 14 2.7.2 Exploration by Goldsmith Mines Chile Ltda ................................................................................... 17

2.8 Exploration by Tesoro ........................................................................................................................... 17 2.8.1 Drilling Completed by Tesoro .......................................................................................................... 1 2.8.2 Summary of Tesoro Drilling Results ................................................................................................. 2

2.9 General Core Geology Observations ....................................................................................................... 1

2.10 Exploration Potential and Targets ........................................................................................................... 2

2.11 Planned Work ......................................................................................................................................... 3

3 ESPINA PROJECT ......................................................................................................................................... 4

3.1 Location, Access and Infrastructure ........................................................................................................ 4

3.2 Climate, Topography and Vegetation ..................................................................................................... 5

3.3 Ownership and Tenure ........................................................................................................................... 5

3.4 Geology ................................................................................................................................................... 5


CSA Global Report Nº R465.2019 VI

3.4.1 Regional Geology ............................................................................................................................. 5 3.4.2 Local Geology ................................................................................................................................... 7 3.4.3 Alteration ......................................................................................................................................... 8

3.5 Mineralisation ......................................................................................................................................... 9 3.5.1 Regional Metallogenesis .................................................................................................................. 9 3.5.2 Nearby Epithermal Gold Deposits .................................................................................................. 10 3.5.3 Mineralisation at Espina ................................................................................................................ 11

3.6 Historical Mining and Exploration ......................................................................................................... 12

3.7 Recent Exploration Activities - Colonial ................................................................................................ 13

3.8 Recent Exploration - Tesoro .................................................................................................................. 13 3.8.1 Mina La Librera .............................................................................................................................. 14 3.8.2 Puertelera ...................................................................................................................................... 17 3.8.3 San Raphael ................................................................................................................................... 18

3.9 Geochemical Soil Sampling Programs ..................................................................................................... 1

3.10 Other Prospects on the Espina Concession............................................................................................. 5 3.10.1 Conclusions ...................................................................................................................................... 6

4 EL ZORRO AND ESPINA PLANNED WORK PROGRAMS ................................................................................. 8

4.1 El Zorro Planned Work Program ............................................................................................................. 8

4.2 Espina Work Program ............................................................................................................................. 9

5 TECHNICAL RISKS .......................................................................................................................................10

5.1 El Zorro Project ..................................................................................................................................... 10

5.2 Espina Project ....................................................................................................................................... 10

6 USE OF FUNDS ...........................................................................................................................................11

7 CONCLUSIONS ...........................................................................................................................................12

7.1 El Zorro Project ..................................................................................................................................... 12

7.2 Espina Project ....................................................................................................................................... 12

8 REFERENCES ..............................................................................................................................................13

9 GLOSSARY ..................................................................................................................................................14

10 ABBREVIATIONS AND UNITS OF MEASUREMENT .......................................................................................16

Figures Figure 1: Location of Tesoro project areas, Chile .................................................................................................................... II Figure 2: Location of El Zorro Project ...................................................................................................................................... 5 Figure 3: View over the Coquetas prospect at the El Zorro Project ........................................................................................ 6 Figure 4: Metallogenic map with project areas (modified after Kura Mineral Resources, 2016) ........................................... 7 Figure 5: Regional geology map of the El Zorro project area and prospects (projection WGS84 UTM zone 19S) .................. 8 Figure 6: Local geology map of the El Zorro Project and prospects. ..................................................................................... 10 Figure 7: Structural domains defined by Oliver (2018); sheeted veins pink, individual veins red, and faults gree(gold ppm)11 Figure 8: Artisanal workings at El Zorro ................................................................................................................................ 12 Figure 9: Geological evolution, deformation and mineralisation of the El Zorro Project (Oliver, 2018) ............................... 13 Figure 10: Coeur d’Alene exploration adits ............................................................................................................................. 14 Figure 11: Plan map of historical and recent exploration activities ........................................................................................ 16 Figure 12: Key structural elements and geology of the area (Oliver, 2018); grid is WGS84 UTM19S, north is up the page ..... 1 Figure 13: Tesoro channel sampling on regional prospects (grid is WGS84 UTM19S) .............................................................. 1 Figure 14: Drillhole locations of the Tesoro drilling and significant results (grid is WGS84 UTM19S). ..................................... 1


CSA Global Report Nº R465.2019 VII

Figure 15: Cross section through drillholes ZDDH004, ZDDH005, ZZDH010, ZDDH012 and ZDDH014. .................................... 1 Figure 16: Cross section through drillholes ZDDH001 and ZDDH002 ........................................................................................ 1 Figure 17: Cross section through drillhole ZDDH003 ................................................................................................................ 1 Figure 18: Cross section through drillholes ZDDH003 ............................................................................................................... 1 Figure 19: Alteration and diorite textures intersected in Tesoro drilling (Oliver, 2018) ........................................................... 1 Figure 20: Prospects at Tesoro ((grid is WGS84 UTM19S). ....................................................................................................... 3 Figure 21: Location of Espina Project in relation to Santiago.................................................................................................... 4 Figure 22: Regional geology – Espina Project ............................................................................................................................ 6 Figure 23: Cross section demonstrating the relationship between the various formations at Espina ...................................... 7 Figure 24: Local geology map of the Espina Project (grid is WGS84 UTM19S) .......................................................................... 7 Figure 25: Geology and alteration map of the Espina project area (grid is WGS84 UTM19S) .................................................. 9 Figure 26: Metallogenic belt of Central Chile showing Espina property (modified after Kura Mineral Resources, 2016) ...... 10 Figure 27: Diagrammatic representation of the potential mineralisation types and genetic relationship ............................. 11 Figure 28: Mineral occurrences, structures and rock chip data .............................................................................................. 12 Figure 29: Panoramic view looking south at the Espina property ........................................................................................... 12 Figure 30: Location of historical workings (grid is WGS84 19S, north is up the page) ........................................................... 14 Figure 31: Location of Librera and Puetelera projects and channel samples by Tesoro demonstrating the strike relationship

between the two prospects (grid is WGS84 UTM19S) ........................................................................................... 15 Figure 32: Relationship between the structures hosting Mina Librera and Puertelera mine workings (Patos Viejos) and the

Infiernillo structure, hosting the San Raphael, Cuchilla and Mazamora prospects ................................................ 16 Figure 33: Photograph of colloform banding from the Mina La Librera workings .................................................................. 17 Figure 34: Rock chip samples from the San Raphael, and other prospects in the area ............................................................ 1 Figure 35: Gridded gold geochemistry in relation to historical workings and major and minor structures .............................. 1 Figure 36: Gridded silver geochemistry in relation to historical workings and major and minor structures ............................ 2 Figure 37: Gridded copper geochemistry in relation to historical workings and major and minor structures ......................... 3 Figure 38: Gridded arsenic geochemistry in relation to historical workings and major and minor structures ......................... 4 Figure 39: Prospect locations .................................................................................................................................................... 6

Tables Table 1: Significant downhole drill results from Tesorro 2017-2018 drilling program at the El Zorro Project ..................... III Table 2: Significant downhole intervals from Tesoro drilling ................................................................................................. 2 Table 3: Recent exploration history by Colonial .................................................................................................................. 13 Table 4: Summary of additional exploration targets on the Espina Concession .................................................................... 5 Table 5: Use of proceeds from the capital raising ................................................................................................................. 8 Table 6: Proposed use of funds in the first two years of exploration .................................................................................. 11

Appendices Appendix 1: Tenement Schedule Appendix 2: Site Inspection Appendix 3: CDE Drillhole Collars, Survey and Assays Appendix 4: Tesoro Drillhole Collars, Survey and Assays Appendix 5: Tesoro Trenches Collars, Survey and Assays Appendix 6: JORC Table 1


CSA Global Report Nº R465.2019 1

1 Introduction

1.1 Context, Scope and Terms of Reference

CSA Global Pty Ltd (ABN 67 077 165 532) (CSA Global) was requested by Plukka Limited (Plukka) to prepare

an Independent Technical Assessment Report (ITAR) for use in a prospectus to support an initial public

offering (IPO) or reverse takeover (RTO) by Plukka Limited (ASX:PKA) of Tesoro to enable a listing on the

Australian Securities Exchange (ASX). The funds raised will be used for the purpose of exploration and

evaluation of the project areas.

This ITAR details the Chilean gold projects at El Zorro and Espina which have had varying levels of exploration.

This ITAR is subject to the Code for the Technical Assessment and Valuation of Mineral and Petroleum Assets

and Securities for Independent Expert Reports 2015 (“VALMIN1 Code”). In preparing this ITAR, CSA Global:

• Adhered to the VALMIN Code.

• Took due note of the rules and guidelines issued by such bodies as the Australian Securities and

Investments Commission (ASIC) and the ASX, including ASIC Regulatory Guide 111 – Content of Expert

Reports and ASIC Regulatory Guide 112 – Independence of Experts, ASIC RG 228 - Prospectuses: Effective

disclosure for retail investors.

• Relied on the accuracy and completeness of the data provided to it by Tesoro and Plukka, and that Tesoro

and Plukka made CSA Global aware of all material information in relation to the projects.

• Relied on Tesoro’s representation that it holds adequate security of tenure for exploration and

assessment of the projects to proceed.

• Required that Plukka provide an indemnity to the effect that Plukka would compensate CSA Global in

respect of preparing the ITAR against any and all losses, claims, damages and liabilities to which CSA

Global or its Associates may become subject under any applicable law or otherwise arising from the

preparation of the ITAR to the extent that such loss, claim, damage or liability is a direct result of Tesoro

or any of its directors or officers knowingly providing CSA Global with any false or misleading information,

or Plukka, or its directors or officers knowingly withholding material information.

• Required an indemnity that Plukka would compensate CSA Global for any liability relating to any

consequential extension of workload through queries, questions, or public hearings arising from the ITAR.

1.2 Compliance with the VALMIN and JORC Codes

The ITAR has been prepared in accordance with the VALMIN Code, which is binding upon Members of the

Australian Institute of Geoscientists (AIG) and the Australasian Institute of Mining and Metallurgy (AusIMM),

the JORC2 Code and the rules and guidelines issued by such bodies as ASIC and ASX that pertain to Technical

and Independent Expert Reports.

1.3 Principal Sources of Information and Reliance on Other Experts

CSA Global has based its review of the projects on information made available to the principal authors by

Tesoro along with technical reports prepared by consultants, government agencies and previous tenements

holders, and other relevant published and unpublished data. CSA Global has also relied upon discussions with

1 Australasian Code for Public Reporting of Technical Assessments and Valuations of Mineral Assets (The VALMIN Code), 2015 Edition, prepared by

the VALMIN Committee of the Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists. <http://www.valmin.org>

2 Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. (The JORC Code), 2012 Edition. Prepared by: The Joint Ore Reserves Committee of The Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia (JORC). <http://www.jorc.org>



Tesoro’s management for information contained within this assessment. This ITAR has been based upon

information available up to and including 30th August 2019

CSA Global has endeavoured, by making all reasonable enquiries, to confirm the authenticity, accuracy, and

completeness of the technical data upon which this ITAR is based. Unless otherwise stated, information and

data contained in this ITAR or used in its preparation has been provided by Tesoro in the form of

documentation.

Tesoro was provided a final draft of this ITAR and requested to identify any material errors or omissions prior

to its lodgement.

Descriptions of the mineral tenure; tenure agreements, encumbrances and environmental liabilities were

provided to CSA Global by Tesoro or its technical consultants. Tesoro has warranted to CSA Global that the

information provided for preparation of this ITAR correctly represents all material information relevant to

the projects. Full details on the tenements is provided in the Independent Solicitor’s Report elsewhere in the

prospectus.

1.4 Authors of the Report

CSA Global is a privately owned, mining industry consulting company headquartered in Perth, Western

Australia. CSA Global provides geological, resource, mining, management and corporate consulting services

to the international resources sector and has done so for more than 30 years.

This ITAR has been prepared by a team of consultants sourced principally from CSA Global’s Perth, Western

Australia office. The individuals who have provided input to the ITAR have extensive experience in the mining

industry and are members in good standing of appropriate professional institutions. The Consultant

preparing this ITAR is a specialist in the field of geology and exploration.

The following individuals, by virtue of their education, experience and professional association, are

considered Competent Persons, as defined in the JORC Code (2012), for this ITAR. The Competent Persons’

individual areas of responsibility are presented below:

• Coordinating author – Mr Ian Stockton (Principal Consultant – Geology, CSA Global, Perth, Western

Australia) is responsible for the assessment of exploration completed and exploration potential. Ian is a

geologist with over 25 years’ experience in the mineral exploration industry ranging from early stage

exploration activities, exploration management, strategy development through to mine development

and operations. He has been directly involved in the discovery of several important ore deposits including

the Nolans/Sarsfield gold deposits (Ravenswood, Queensland), CSA copper mine extensions (Cobar, New

South Wales), rejuvenation of the Mount Muro epithermal deposits (Indonesia) and the Saramacca gold

deposit (Suriname). Ian’s experience covers a diverse background of exploration settings having worked

in the Tertiary epithermal deposits in Indonesia, Cretaceous porphyry environment in Serbia,

Paleoproterozoic orogenic gold deposits of Suriname, Siluro-Devonian intrusive related gold deposits in

north Queensland and the Siluro-Devonian copper gold deposits in the Cobar sedimentary basin. Through

this diverse experience, he can provide integrated, mineral systems based geological models and

targeting advice.

• Contributing author – Dr Federico Cernuschi (Senior Resource Geologist, CSA Global) completed the field

visit to Tesoro’s assets in Chile. Federico is a hands-on geologist with over 10 years’ international

experience in the exploration/mining industry. He specialises in the geology and geochemistry of mineral

deposits, including porphyry copper-molybdenum-gold deposits and other magmatic-hydrothermal ores.

• Peer reviewer – Ralph Porter (Principal Consultant, CSA Global, Perth, Western Australia). Ralph Porter

is a geologist with over 35 years’ mineral exploration experience. He is highly experienced in target

generation, project evaluation and exploration program implementation for gold, base metals, tantalum,

lithium, nickel and platinum group metals. He has a strong understanding of many deposit styles with



particular strength in orogenic gold, epithermal gold and porphyry copper-gold systems. He is credited

with the discovery of the Pajingo epithermal gold deposits, North Queensland, Australia and was involved

in the early exploration and discovery phases of Thunder Bay North PGM-nickel-copper deposit, Ontario,

Canada. Ralph was Exploration/Special Projects Manager for Sons of Gwalia in Western Australia for

nearly five years, including responsibility for rare-metal pegmatite evaluation and exploration for over

three years. Ralph was a senior executive (and co-founding Director) for Magma Metals Ltd for six years.

Ralph provides highly knowledgeable and experienced advice coupled with a practical and pragmatic

approach to discovering orebodies.

Neither CSA Global, nor the authors of this ITAR, has or has had previously, any material interest in Tesoro or

Plukka Limited or the mineral properties in which Tesoro has an interest. CSA Global’s relationship with

Tesoro is solely one of professional association between client and independent consultant.

CSA Global is an independent geological consultancy. Fees are being charged to Tesoro and Plukka Limited

at a commercial rate for the preparation of this ITAR, the payment of which is not contingent upon the

conclusions of the ITAR. The fee for the preparation of this ITAR is approximately $65,000.

No member or employee of CSA Global is, or is intended to be, a director, officer or other direct employee of

Tesoro or Plukka Limited. No member or employee of CSA Global has, or has had, any shareholding in Tesoro

or Plukka Limited.

There is no formal agreement between CSA Global and Plukka Limited, as to Plukka Limited providing further

work for CSA Global.

1.5 Declarations

1.5.1 Purpose of this Document

This ITAR has been prepared by CSA Global at the request of, and for the sole benefit of Plukka. Its purpose

is to provide an ITAR of Tesoro’s projects in Chile.

The ITAR is to be included in its entirety or in summary form within a prospectus to be prepared by Tesoro in

connection with an IPO or RTO. It is not intended to serve any purpose beyond that stated and should not be

relied upon for any other purpose.

The statements and opinions contained in this ITAR are given in good faith and in the belief that they are not

false or misleading. The conclusions are based on the reference date of 1 September 2019 and could alter

over time depending on exploration results, mineral prices and other relevant market factors.

1.5.2 Competent Person’s Statement

The information in this ITAR that relates to Technical Assessment of Exploration Targets, or Exploration

Results is based on information compiled and conclusions derived by Mr Ian Stockton, a Competent Person

who is a Fellow of the AIG, and a Member of the AusIMM. Mr Stockton is employed by CSA Global.

The information in this ITAR that relates to Technical Assessment of the field visit based on information

compiled and conclusions derived by Dr Federico Cernuschi, AIPG (American Institute of Professional

Geologists). Dr Cernuschi is employed by CSA Global.

Mr Stockton and Dr Cernuschi have sufficient experience that is relevant to the Technical Assessment of the

Mineral Assets under consideration, the style of mineralisation and types of deposit under consideration and

to the activity being undertaken to qualify as a Practitioners as defined in the 2015 Edition of the “Australasian

Code for the public reporting of technical assessments and Valuations of Mineral Assets”, and as Competent

Persons as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral

Resources and Ore Reserves”. Mr Stockton and Dr Cernuschi consent to the inclusion in the ITAR of the

matters based on their information in the form and context in which it appears.



1.5.3 Site Inspection

Dr Federico Cernuschi, an employee of CSA Global, visited the EL Zorro and Espina projects, located in Chile,

over four days from 20 March 2018 to 23 March 2018. CSA Global recognise the potential for gold

mineralisation at El Zorro and Espina projects based on the data available and following the site inspection.

The proposed activities of Tesoro’s work program are considered appropriate for the next stage of

exploration.

1.6 About this Report

This ITAR describes the prospectivity of Tesoro’s El Zorro and Espina exploration assets located in Chile. The

geology and mineralisation for each tenement or project area are discussed, as well as the exploration work

completed, and the results obtained. Information relating to data and quality assurance/quality control

(QAQC) for the exploration drilling is provided by El Zorro. An effort was made to summarise this body of

work so as to contain the size and readability of the ITAR. No valuation has been requested or completed for

the projects.



2 El Zorro Project

2.1 Location, Access and Infrastructure

The El Zorro Project is located 130 km from Copiapo in Region 3, Atacama, in northern Chile (Figure 2). The

project is accessed by driving 42 km from the port of Caldera on the main highway to Obispito and then 15 km

on unsealed road to the project area.

The major airport of Aeropuerto Desierto de Atacama is located 80 km by road from the project area. Fuel,

accommodation and meals are available from the Posada Ovallina on the coast road 18.4 km from the project

area.

Copiapo is the regional capital, located near the coast with the last recorded population of 183,973 (2012).

Other cities in the region include Chanaral, a seaport, and Vallenar, a centre for the mining industry.

The mining industry accounts for 40% of the Region’s economic activity. Other industries include agriculture,

fishing, manufacturing, construction, and to lesser extent, service industries.

El Zorro is located ~15 km east of the settlement of Obispito, where there is connection to the national power

grid and highway network.

Water and fuel for drilling operations is trucked from Obispito and groundwater intersected in most of the

holes drilled by Tesoro could be considered a source of water for future drilling and other operations.

Figure 2: Location of El Zorro Project

2.2 Climate, Topography and Vegetation

The Atacama Desert is bordered to the north by the Sechura Desert region of Peru, and the Matorral region

of Chile to the south, and the Andes Mountains to the east. The elevation for the Atacama Desert ranges

between sea level and 5,000 m above sea level. The topography within the project is considered moderate

ranging from 500 m to 1100 m above sea level (Figure 3).



Temperatures range from an average daytime high of 20°C in December, to an average low of 10°C in July.

The Atacama is the driest place on earth with an annual precipitation of 1 mm. There is little to no vegetation

in the Atacama Desert.

Figure 3: View over the Coquetas prospect at the El Zorro Project

2.3 Ownership and Tenure

El Zorro consists of 41 granted exploration concessions totalling 10,000 hectares (ha) and three exploitation

concessions for 570 ha, centred on the Coquetas prospect. Additionally, Tesoro has two exploration

concessions in the process of being converted to exploitation concessions. The concession details are

included in Appendix 1.

The current owner of the El Zorro concession package is a private Chilean national who has consolidated the

properties under a single ownership structure from numerous individual owners. Tesoro has entered into an

option to acquire up to 100% of the concessions under an agreement executed on 18 July 2017. The details

of the agreement are included in Appendix 1.

2.4 Geology

2.4.1 Regional Geology and Metallogenesis

The project area is located in an early Cretaceous volcanic arc containing structurally controlled batholitic

intrusions. During this period extensional tectonic activity included the formation of the intra-arc, sinistral,

strike-slip Atacama Fault System along the Coastal Cordillera. The metallogenesis during the evolution of the

Chilean Andes was dominated by copper-gold mineralisation characterised by several Late Jurassic and Early

Cretaceous volcanic-hosted Cu-Ag manto-type deposits, mesothermal Cu-Au-Ag veins and iron oxide copper-

gold (IOCG) deposits (Kura Mineral Resources, 2016) (Figure 4). Although the El Zorro mineralisation is located

within a belt characterised by IOCG-type mineralisation, the El Zorro mineralisation is more typical of an

intrusive related gold deposit type, as discussed in Section 2.6.2.



The oldest rocks in the project area are Palaeozoic sediments of probable Devonian to Lower Carboniferous

age (Swensson, 2016). These have been intruded by a Jurassic granodiorite body of the Coastal Batholith

Series which has thermally metamorphosed the sediments around the intrusion contact. Fine-grained

sediments have been metamorphosed to phyllites and massive fine grained dark hornfels and the more

arenaceous sediments to quartzites (Figure 5).

Figure 4: Metallogenic map with project areas (modified after Kura Mineral Resources, 2016)



Figure 5: Regional geology map of the El Zorro project area and prospects (projection WGS84 UTM zone 19S)

2.4.2 Local Geology

In the El Zorro Project, the main mineralised intrusion is underlain by a Devonian age sedimentary rock

sequence consisting of interbedded siltstone, volcaniclastics, and minor quartzite, all of which has been



variably metamorphosed and folded. Two separate sediment outcrops on the eastern side of the mapped

area show cross-beds that indicate the sedimentary sequence has been overturned.

In the El Zorro project area, both the sediments and the granodiorite have been intruded by a mineralised

tonalite to diorite intrusion (referred to as diorite herein) interpreted from field mapping as a possible late

stage differentiate of the granodiorite body, emplaced as a sill and referred to as the El Zorro Tonalite (EZT).

Another interpretation is that the EZT is related to the later Cretaceous Andean arc evolution. This intrusion

has significantly thermally metamorphosed the sediments within several hundred metres of the contact

resulting in highly resistant phyllite, dark fine grained hornfels and quartzite. The phyllite is a very fine

grained, foliated, black, dense rock.

The mineralised diorite has plan dimensions of approximately 2 km along strike and 50–150 m wide with a

general strike of 065°. Alteration in the diorite occurs as selvedges to quartz ± sulphide veins represented by

strong albite, biotite, weak chlorite and very weak sericite and clay.

All lithologies are cut by lamprophyre dykes particularly in the areas of mineralisation. Monzodiorite dykes

of short strike length are also common around the margins of the diorite (Figure 6).



Figure 6: Local geology map of the El Zorro Project and prospects.

2.4.3 Structure

The structural architecture has been studied by Swensson (2016), Oliver (2018) and Cooley (2018). A synopsis

of the work of these authors is as follows:

• Swensson (2016) recognised four fault movements within the project area:

o Transcurrent, striking 330° with a sinistral sense of movement and displacement of 20 m.

o Normal east-west faults with a vertical displacement of up to 20 m.



o Transcurrent and possibly vertical 360–340° with displacements of 100 m.

o Low angle listric or horizontal faults striking 340° with dips of 20–35°.

• Oliver (2018) defined six domains which are summarised below and in Figure 7:

o Domain 1: Dominated by mineralised north-northwest striking fault zones containing gold and an

east to northeast striking vein sets (? conjugate) where they intersect diorite.

o Domain 2: Chaotic domain of complex diorite/metasediment interfaces and a higher abundance of

north-striking veins than in most other domains. A significant mineralised fault set striking 070°,

especially near ZDDH010. High gold grades occur in diorite and in complex fault/vein relationships.

o Domain 3: Conjugate mineralised faults and fault/veins striking 070° and 115°, and are associated

with high gold values. Domain-bounding faults strike 135° (northwest/southeast).

o Domain 4: Sheeted and single conjugate veins. The lowest gold grades possibly associated with

metasediments and/or narrower fault zones.

o Domain 5: Veins mostly east-west to west-northwest and mainly sheeted. Faults are mostly

conjugate which is consistent with east-west shortening and branches off domain bounding

northwest faults. Lowest gold grades associated with metasediments or thinner veins.

o Domain 6: Similar to Domain 4 with strong east-west and northwest veins. Faults notably more

easterly than in other domains – possibly the effect of the proximity of the granodiorite. Good gold

grades are associated with east-west veins and faults.

Figure 7: Structural domains defined by Oliver (2018); sheeted veins pink, individual veins red, and faults gree(gold ppm)

Oliver concluded that each domain is consistent with east-west shortening acting across northwest-striking,

strike slip faults, at the time of mineralisation. The gold endowed mineralised zones, comprising faults, veins,

fault/veins and sheeted veins, can be regarded as damage zones refracting across the diorite, connected to

the northwest controlling structure.

Cooley (2018) interpreted the main structural control of mineralisation, determined from multiple datasets

of veins and fault zones measured in the El Zorro project area, to be associated with steeply dipping strike-

slip faults that generally trend west-northwest to east-southeast. Gold mineralisation is interpreted to occur



as discontinuous shoots, controlled by a combination of the intersection of the structures with the preferred

host rock diorite, and locally developed intersections of fracture populations that developed during strike-

slip deformation. A second sub-horizontal to moderately west-northwest plunging shoot orientation is also

interpreted from structural orientations of high-grade mineralisation in drill holes ZDDH0010 and ZDDH0004.

CSA Global consider that the structural evaluations by the various authors show significant commonality at

the prospect scale.

2.5 Historical Mining and Exploration

Historical mining by artisanal workers is limited to early stage quartz veins in and around the Coquetas

prospect. (Figure 8). The lack of current activity by artisanal miners is probably a result of the narrow

individual veinlets not being amenable to traditional mining methods.

Figure 8: Artisanal workings at El Zorro

Coeur d’Alene Mines Corporation (CDE) excavated several adits as part of its exploration and assessment

program. These were later expanded by the owners and trucked to Copiapo and sold to ENAMI (a Chilean

government copper and gold processing and smelting plant) with payment based on assayed gold content of

each truck.

2.6 Mineralisation

According to Swensson (2016), two gold mineralising events are evident in the project area.

2.6.1 Early Mineralisation

Early gold mineralisation is characterised by narrow 0.1–2.0 m wide, vertically dipping sheeted quartz veins

with a dominant strike of 330°. The mineralogy of the veins consists of quartz, pyrite, hematite and rare

chalcopyrite and galena. These veins are truncated at the margins, inferring that the quartz veins are an

earlier event, related to the emplacement of the granodiorite body in the south of the project area.

These veins have been exploited by artisanal miners in numerous workings throughout the project area.



2.6.2 Main Gold Mineralisation Event

The second and dominant mineralising event is interpreted as being related to the emplacement of the

diorite. Mineralisation at the Coquetas prospect is hosted in a dense array of dominantly vertical dipping

fractures representing a sheeted vein array within the diorite and hornfelsed sediments in the contact zone.

The fractures are generally thin (1–10 mm) with an orientation of 280–310°. The fracturing is probably related

to hydraulic fracturing within and above the diorite cupola during the last stages of crystallisation and residual

fluid concentration. Fracturing is preferentially developed in the more brittle lithologies of the diorite, black

fine-grained hornfels and quartzite. There is a strong correlation between the distribution of the brittle

lithologies and better mineralisation with the more ductile phyllites being generally poorly mineralised.

In the primary zone, the mineralogy of the mineralisation is gold, minor pyrite and arsenopyrite, trace

pyrrhotite, sphalerite and chalcopyrite. Gangue consists of dominantly kaolin and lesser quartz and minor

calcite. In the oxidised zone, limonite and hematite represent the oxidisation products of the primary

sulphides with minor psilomelane. Gold occurs either as free grains attached to limonite or silica or as

inclusions or filling fractures within pyrite grains or its oxidation products. Gold grain size averages 20–

30 microns. There are no significant levels of silver or copper, with maximum reported assays of 1.5 ppm

silver and 220 ppm copper.

Oliver (2018) developed a model for the geological, deformation and mineralisation history for the El Zorro

Project (Figure 9).

Figure 9: Geological evolution, deformation and mineralisation of the El Zorro Project (Oliver, 2018)

2.6.3 Mineralisation Style

The mineralisation model based on field observations and geochemical evaluation by Tesoro and the

CSA Global field visit, and indicate the mineralisation is to likely to be of the intrusive related gold deposit

type. The key characteristics consistent with this deposit type include:



• Low sulphide content, (typically <5%); reduced ore mineral assemblage that typically comprises pyrite

and lacks primary magnetite or hematite

• Mineralisation occurs as sheeted vein deposits or stockwork assemblages and often combine gold with

variably elevated Bi, W, As, Mo, Te, and/or Sb but low concentrations of base metals as seen in the initial

four drillholes by Tesoro at El Zorro

• Restricted and commonly weak proximal hydrothermal alteration

• Intrusions of intermediate to felsic composition and in this case diorite to tonalite composition.

An alternative model is a high-level porphyry system such as a gold-rich porphyry or epithermal system;

however, the vein textures, mineralisation style, geochemical characteristics (granite fingerprint) and

subdued alteration are not consistent with these types of mineralisation.

Figure 10: Coeur d’Alene exploration adits

2.7 Recent Exploration Activities

2.7.1 Exploration by Coeur d’Alene Mines Corporation

CDE Chilean exploration division undertook considerable activities on the Coquetas prospect, under an option

agreement with the owners between April 1990 and January 1993. In summary, CDE completed the following:

• Detailed geological mapping at 1:1,000 and 1:500

• Geochemical sampling (419 samples)

• Drilling of 68 holes for 7,601 m

• Excavation of approximately 173 m of exploratory adits

• Detailed sampling and mapping of underground workings (275 samples)

• Mineragraphic and petrographic studies



• Metallurgical testing

• Resource estimation.

Drilling by CDE – (1990-1993)

Prior to the recent drilling by Tesoro, CDE was the only company to undertake drilling on the property. Drilling

programs were undertaken using rotary air blast (RAB), tricone (a type of reverse circulation drilling), reverse

circulation percussion (RCP) and diamond drilling. Drilling difficulties were encountered and only the

diamond drilling provided a reliable sample.

Drilling programs were hampered by significant water inflows. The effect of this is to cause samples to be

potentially contaminated as water and sample flow between intervals and generate a smaller sample than

when the sample is dry. The results are a sample which can biased, either high or low and as such is unreliable.

In addition, sampling methodology and recoveries are not reported and no QAQC data was available to CSA

Global regarding any of the CDE drilling.

Efforts to locate the CDE diamond drill core by Tesoro were unsuccessful, as the core was stored locally and

destroyed during construction for a building extension.

Due to the unreliability of sample quality and assay information as described above CSA Global considers the

drilling to be indicative only. The locations of CDE drill holes are shown in Figure 11 and assay summaries and

collars are in Appendix 3 for reference.

Geological Mapping and Sampling

CDE mapped an area of approximately 1,200 m x 500 m centred on the Coquetas mineralisation at a scale of

1:1,000 and undertook extensive surface rock sampling. Although they undertook significant geochemical

sampling programs, only a few of these results are available.



Figure 11: Plan map of historical and recent exploration activities



2.7.2 Exploration by Goldsmith Mines Chile Ltda

Goldsmith Mines Chile Ltda (Goldsmith) entered into an option agreement with the tenement holders and

commenced exploration on the Coquetas mineralisation in 2014. Goldsmith subsequently acquired 100% of

the project.

Goldsmith completed the following work on the project:

• Acquisition of the remaining dataset from CDE and digitisation of the geochemical, mapping and drilling

data

• Geological mapping of the Coquetas area at 1:1,000 scale

• Regional mapping over an area of approximately 24 km2 at a scale of 1:10,000 with infill mapping at a

scale of 1:1,000 over areas of interest

• Surveying of historical CDE drill hole collars

• Surface and underground rock chip sampling and mapping for confirmation purposes of the CDE data

• Preparation of drill sections with interpreted geology and assays

• Preliminary geological resource estimate.

Goldsmith is the vendor of the property.

2.8 Exploration by Tesoro

Tesoro has completed several exploration activities on the concession including geological mapping, rockchip

sampling, channel sampling (trenching) and diamond drilling. In addition structural studies by Cooley (2018)

and Oliver (2018) (Section 2.4.3) have been completed.

The initial focus of geological mapping was on the main Coquetas mineralised zone and the extensions to the

northwest, in a structural corridor defined by Tesoro. These additional prospects include Coquetas North,

Drone Hill and Toro Blanco. Two kilometres to the south of Coquetas, the Buzzard prospect is hosted in a

biotite granite. Channel sampling associated with these prospects is shown in Figure 13.

Mapping by Tesoro provided the basis for Tesoro to undertake 171 channels for 4008m and collected 1,112

samples in these project areas. Significant results from trenching are demonstrated for the various prospects

on Figure 13. The details of these channel samples (assays, location data and JORC Table 1 details) are included

in Appendix 5 and Appendix 6. CSA Global consider the sampling, assaying and location data appropriate for

use as a guide for further exploration.

Structural studies by Cooley and Oliver provide a framework for mineralisation with the summary of key

structural elements and geology are demonstrated in Figure 12.



Figure 12: Key structural elements and geology of the area (Oliver, 2018); grid is WGS84 UTM19S, north is up the page



Figure 13: Tesoro channel sampling on regional prospects (grid is WGS84 UTM19S)

for full list of trench location and all sample information pertaining to assays, location and JORC Table 1 see Appendix 5 and Appendix 6

2.8.1 Drilling Completed by Tesoro

Tesoro completed 16 drillholes for 3,085 m in two drilling programs during 2017 and 2018. The drilling

programs targeted northwest-trending mineralised structures identified from previous mapping and



historical drilling (Figure 14). The primary aim of the program was to test and validate historical drill results

reported by CDE as part of Tesoro’s technical due diligence on the property.

Other aims of the program included:

• Test the strike and down-dip extents of identified gold mineralisation at Coquetas

• Identify the host lithology and the extent of gold distribution within the host lithology

• Identify the main controls on gold mineralisation

• Demonstrate the economic scale of the Coquetas deposit.

2.8.2 Summary of Tesoro Drilling Results

Tesoro intersected significant gold mineralisation in its drilling and in doing so achieved the goal of

validating the general tenor of gold mineralisation achieved by CDE. The diamond drill core provides an

insight into the distribution of mineralisation and encouragement for further exploration.

Significant results are tabulated in Table 3 using a 0.25 g/t Au cut-off and 2 m internal dilution with no

high assay cuts applied. The full assay database for the 16 drill holes and locational data are included in

Appendix 4 and JORC Table One in Appendix 6.

The results of the initial 10-hole program (ZDDH001-10) highlighted long intervals of +0.5 g/t Au intervals

with narrower high-grade results. The second drilling program was successful in delineating long intervals

of +1g/t Au, with intervals greater than 50 m in drillholes ZDDH011-14 (Table 2). A plan view of drilling and

significant results is highlighted in Figure 14. Cross sections through the mineralisation are shown in

Figure 15, Figure 16, Figure 17 and Figure 18. A full listing of individual assays is included in Appendix 4. And

details of sampling, QAQC and other related aspects are included in Appendix 6, JORC Table 1.

Table 2: Significant downhole intervals from Tesoro drilling

Hole ID From (m) To (m) Interval Au (g/t) Comments

ZDDH0001

5.00 51.30 46.30 0.45

33.64 39.00 5.36 0.97 including

107.00 112.00 5.00 1.11

117.00 119.00 2.00 2.05

ZDDH0002

5.70 68.00 62.30 0.54

8.80 24.30 15.50 1.15 including

58.00 61.00 3.00 3.62 including

ZDDH0003

21.00 77.30 56.30 0.50

21.00 27.00 6.00 1.96 including

37.20 43.00 5.80 1.27 including

ZDDH0004

5.00 66.00 61.00 0.97

56.00 66.00 10.00 4.53 including

57.00 61.00 4.00 9.60 including

ZDDH0005 4.00 42.65 38.65 0.65

9.80 28.00 18.20 1.17 including

ZDDH0006 22.60 25.95 3.35 2.14

ZDDH0007

1.00 4.00 3.00 4.75

39.00 66.20 27.20 0.70

39.00 58.00 19.00 0.80 including

ZDDH0009 12.55 38.00 25.45 0.51

21.00 26.00 5.00 1.09 including



Hole ID From (m) To (m) Interval Au (g/t) Comments

ZDDH0010

75.00 159.30 84.30 1.30

75.00 104.00 29.00 2.95 including

82.50 86.45 3.95 4.97 including

91.00 102.00 11.00 4.70 including

93.00 97.00 4.00 8.50 including

ZDDH0011

176.00 274.30 98.30 1.58

181.70 212.00 30.30 3.03 including

196.40 212.00 15.60 3.87 including

203.00 212.00 9.00 5.07 including

ZDDH0012

0.00 58.80 58.80 1.70

1.70 22.00 20.30 4.50 including

1.70 8.40 6.70 12.21 including

2.30 4.70 2.40 33.35 including

ZDDH0013 46.30 70.00 23.70 0.85

51.25 65.35 14.10 1.08 including

ZDDH0014

15.30 70.60 55.30 1.01

15.30 34.00 18.70 2.19 including

15.30 26.30 11.00 3.40 including

ZDDH0015 112.00 116.00 4.00 1.13

ZDDH0016 152.00 204.60 52.60 0.62

188.10 194.00 5.90 3.30 including

for full list of individual assay values see Appendix 5



Figure 14: Drillhole locations of the Tesoro drilling and significant results (grid is WGS84 UTM19S).

Details of individual assays are included in Appendix 4 Tesoro Drillhole Collars, Survey and Assays



Figure 15: Cross section through drillholes ZDDH004, ZDDH005, ZZDH010, ZDDH012 and ZDDH014.


Figure 16: Cross section through drillholes ZDDH001 and ZDDH002




Figure 17: Cross section through drillhole ZDDH003




Figure 18: Cross section through drillholes ZDDH003




2.9 General Core Geology Observations

Initial observations from Oliver (2018) regarding the geology and geochemistry include:

• In the El Zorro granodiorite-to-diorite suite, high gold grades are found in both bleached and unbleached

rocks. In the latter case, the gold must correlate with thin sulphide veinlets with limited alteration haloes

(Figure 19).

• The bleached rocks commonly have good grades. This apparent slight disconnect between these two

styles explains the modest Au-Na correlation seen in the geochemistry. This trend towards higher grade

is clear and emphasises a strong connection between progressive silicification around veinlets, with

higher gold.

• Core-scale observations indicate alteration and veining characteristics are applicable to identify potential

gold-bearing rocks and structures. This is consistent with some of the aspects of intrusive related gold

deposits, i.e. low sulphide contents relative to gold, and strong structural controls dominant over

widespread alteration.

Figure 19: Alteration and diorite textures intersected in Tesoro drilling (Oliver, 2018)

Overall, the initial drilling has provided an insight in the geology, structure, alteration and tenor of gold

mineralisation at the El Zorro Project. CSA Global believe that the approach to the drilling and interpretation

is a good start to the exploration. The style of mineralisation described by Oliver appears consistent with the

alteration and mineralisation features of intrusive related gold deposits in places such as Ravenswood, North

Queensland, Australia and the Tintina gold deposits in Alaska and Canada. Tesoro are continuing to build

their understanding of the genesis and controls on mineralisation.



2.10 Exploration Potential and Targets

CSA Global consider Coquetas as the primary exploration target within the property with the potential for

further discoveries. Drilling programs in 2017 and 2018 by Tesoro confirms the prospectivity of the project

with significant drill intersections providing encouragement. In addition, channel sampling to the north (Toro

Blanco and Coquetas North), west (Drone Hill) and south (Buzzard) have defined additional prospects.

The Coquetas gold mineralisation has been recognised over 650 m of strike length; however, approximately

2 km of prospective strike remains under-drilled with potential as follows:

• Areas with low drill density or low confidence in assay quality within the EZT at Coquetas

• Areas along strike, down plunge and down dip which have yet to be closed off by drilling

• Below the current drilling where repeats of the host EZT have been intersected with some historical drill

gold results, and the EZT is not fully tested

• Interpreted mineralised offset positions highlighted by previous explorers to the north

• Areas in the phyllite-quartzite that may be prospective adjacent to the EZT.

Tesoro has defined a northwest trending structural corridor as the primary exploration target (Figure 13).

Previous exploration within this corridor identified a similar diorite to the northeast with limited exploration

named Coquetas Norte (Figure 20). The silicification appears similar to the quartzite at the north end of

Coquetas. The target zone is approximately 1,100 m long has not been previously explored in any detail.

In addition, further exploration is suggested on peripheral prospects identified by channel sampling though

in the first instance these should be a second priority to developing a robust resource model.

A third largely conceptual exploration target is in a parallel quartzite area due north of Coquetas, The Drone

prospect where minor veining and geochemical anomalism has previously been detected (Figure 20).



Figure 20: Prospects at Tesoro ((grid is WGS84 UTM19S).

2.11 Planned Work

The Tesoro work program includes reconnaissance and detailed mapping, trialling of electrical geophysical

techniques (electromagnetic/induced polarisation), a ground geophysical magnetic survey and further

drilling.

The drilling programs are designed to expand the known Coquetas mineralisation and infill the currently

identified mineralised zone with an aim of defining a mineral resource at Coquetas. Initial drilling will be on

a broad spacing and, should results be positive, followed by close spaced drilling for detailed definition of

mineralisation.

Detailed (2 m contour) topographical surveying is to be completed over the Coquetas and Drone Hill areas to

assist targeting and resource modelling.

As gold mineralisation is associated with an increase in sulphide content of the host rocks which may produce

anomalous electrical responses, electrical geophysical techniques will be trialled over areas of known

mineralisation to assess their usefulness as an exploration tool.

Surface mapping and sampling programs will follow up current prospects and any new prospects generated

by the magnetics survey.

A wider regional-scale mapping program will be conducted to identify tectonic and regional structural

elements that may be related to gold mineralisation as at El Zorro with the aim to identify further prospective

areas for acquisition within the region.

Initial metallurgical testwork will be conducted in order to scope a full metallurgical testwork program.



3 Espina Project

3.1 Location, Access and Infrastructure

The Espina epithermal gold-silver project is located in the Maipo Valley within the Metropolitan Region, 13 km

west from the town of Valdivia de Paine and 44 km southwest from Santiago city (Figure 21).

Access to the prospect from Santiago is south on highway Ruta 5 to Champa town, then 8.3 km west on G-

546 and 5 km through paved road G-510 to Valdivia de Paine. After Valdivia, continue 2 km west on a paved

road and then the project can be accessed by an internal gravel road. The Espina property has good access

due to the proximity with Santiago, Chile’s capital city; and Chile’s international airport is less than one hour

by car from the project.

Figure 21: Location of Espina Project in relation to Santiago



3.2 Climate, Topography and Vegetation

The climate of the Metropolitan Region is continental Mediterranean with winter rains and a long dry season.

Rainfall averages between 50 mm and 80 mm per month from May to September. The dry season is

uninterrupted from December to March.

Temperatures vary throughout the year from an average of 20°C in January to 8°C during June and July.

Summer is hot with temperatures exceeding 30°C while nights drop down to 15°C. In autumn and winter, the

temperatures range between 0°C and 10°C.

Logistics and supplies are available in Santiago and its surrounding communities. Local manpower is available

in Valdivia de Paine, Buín and Champa towns.

The property is located in the Chilean Coastal Range and is separated from the Andes mountain by the

Intermediate Depression. The Maipo River is the northern limit of the property and the nearby Aculeo Lake is

an important feature. The terrain is steep with elevation ranging from 300 m to 1,100 m above sea level.

Vegetation is dominated by shrubs and small trees, cactus, and bromeliads as well as herbs, vines, and

geophytes.

3.3 Ownership and Tenure

On 11 December 2017, Tesoro Chile executed a share purchase agreement with Inversiones Cabo de la

Esperanza Limitada and Colonial Resources S.C.M, by which Tesoro Chile is entitled to acquire up to 100% of

the shares in Nueva Colonial S.C.M (which owns a 100% interest in the Espina Project), by meeting certain

work and expenditure milestones and paying certain cost reimbursement amounts to Iversiones and

Colonial.The Espina Project consists of 27 concessions for 5,431 ha. The details of the tenure are included in

Appendix 1.

3.4 Geology

3.4.1 Regional Geology

The Espina property is located on the eastern margin of the coastal Cordillera of central Chile within the

coastal range Cretaceous magmatic belt (Figure 22).

The property is underlain by a sequence of Upper Cretaceous gently east-to-northeast dipping felsic volcanic

ash flows with lesser intermediate volcanic flows and minor volcaniclastic sedimentary rocks named either

the Las Chilcas or the Lo Valle Formation. Late Jurassic to Early Cretaceous Andean evolution took place under

an overall extensional tectonic regime characterised by coeval volcanic arcs and structure-controlled

batholitic intrusions. Two other important components of such extensional tectonic regime were the

generation of the intra-arc, sinistral, strike-slip Atacama Fault System along the Coastal Cordillera and the

formation of back-arc marine carbonate sedimentary basins.

This early period of the evolution of the Chilean Andes was dominated by copper mineralisation characterised

by several Late Jurassic and Early Cretaceous volcanic-hosted Cu-Ag manto-type deposits, mesothermal Cu-

Au-Ag veins and IOCG deposits (Kura Mineral Resources, 2016). In addition, several intermediate to low

sulphidation epithermal deposits are associated with the Cretaceous period including the near-by Cretaceous

epithermal gold deposits Alhué and El Bronce de Petorca.

The Upper Cretaceous Lo Valle Formation comprises 700–3,500 m of Upper Cretaceous continental

andesitic, dacitic and rhyolitic flows, tuffs and breccias, which bounds or conformably overlies the “middle”

Cretaceous Las Chilcas Formation. The Las Chilcas Formation comprises 3,500–6,000 m of conglomerates,

sandstones, shales, and dark-brown andesitic lava flows, which unconformably overlies the Lower to

“middle” Cretaceous Veta Negra Formation. The Veta Negra Formation comprises 5,500–7,500 m of coarsely



porphyritic plagioclase andesite lava flows with intercalated continental red sandstones and conglomeratic

sandstone.

The Lo Valle Formation is intruded by granitic bodies, batholiths and domes and dykes, whose age ranges

from the middle Jurassic to the late Cretaceous. Intrusive igneous rocks are exposed towards the south of

the project area and is part of the unit Alhué Granitoid and correspond to monzogranites of 80 ± 0.1 Ma. age.

Alluvial and colluvial deposits are present as part of the recent sediments that cover valleys and ravines

(Figure 23).

Figure 22: Regional geology – Espina Project



Figure 23: Cross section demonstrating the relationship between the various formations at Espina

3.4.2 Local Geology

The local geology has been described by Cooley and is summarised herein. Andesitic rocks predominate in

the northern part of Espina East, and at Andacollo and to the north and south of Espina Central (Figure 24).

Elsewhere to the west and south, they are locally interlayered with felsic pyroclastic rocks.

Figure 24: Local geology map of the Espina Project (grid is WGS84 UTM19S)

Andesite ranges from massive flows, to flow breccia, to boulder tuff, to ash tuff. Flow-top breccia occurs

locally with the open spaces between autoclastic fragments filled or partly filled by cockade to massive

quartz, which is an earlier generation than vein quartz, and is un-mineralised.



Andesitic pyroclastic rocks are interlayered locally with the flows and range from crystal ash tuff to crystal

lithic block tuff. Andesitic tuff is massive in some occurrences and bedded in others.

Ignimbrite and dacite are interlayered in a package of felsic pyroclastic rocks that underlie much of Espina

Central except for the Andacollo andesite, and most of the southern part of Espina East. This layering can be

easily seen on steep southwest-facing slopes west of the Infiernillo and Andacollo areas, where exposures

are good, but access is difficult.

Granite is found at low elevations around Laguna Aculeo. It is massive, phaneritic, equigranular, locally

porphyritic, medium- to coarse-grained felsic igneous rock with visible quartz and feldspar. Granite occurs to

the south and east of the project area at low elevations and is presumed to be intrusive into the surficial

volcanic rocks, although no intrusive contacts were observed.

Numerous mafic to intermediate dykes of metre thickness have been observed throughout the property.

These dykes generally have inconsistent orientations and locally intrude along the same structures as a few

of the mineralised quartz veins.

The stratigraphy has been cut by a series of northwest and northeast striking steeply dipping faults that host

quartz veins and local alteration and mineralisation. These veins formed the main targets for past exploration

on the Espina property.

3.4.3 Alteration

Low-lying areas that are adjacent to the Espina property to the south and to the east are underlain by large

zones of easily eroded advanced argillic alteration. Alteration minerals mainly include illite, smectite,

muscovite and local kaolinite and one location where the very high temperature minerals diaspore and

pyrophyllite were encountered (Figure 25).

In the eastern edge of the property occur a series of west-north-west striking and steeply dipping silicified

structures hosting jasperoid and fine-grained sugary silica (Pueblo Hundido, Letrero, and Los Llanos). These

structures represent an important plumbing system for hydrothermal fluids and lie parallel to the trend of

argillic alteration that lies along the southern edge of the Espina property (Figure 25).

The west-northwest trending ridge (Punta Los Letreros) which is on strike directly east from the Letrero area

is underlain by advanced argillic alteration with local occurrences of diaspore and pyrophyllite as well as large

sub-crop boulders of dense hematite-stained silica, suggesting this is part of a major hydrothermal conduit.

The Punta Los Letreros ridge is also intruded by altered granite and porphyry, which suggests this

hydrothermal conduit remained a zone of structural weakness and was subject to reactivation and possibly

multiple episodes of hydrothermal fluid flow and igneous intrusion (Figure 25).



Figure 25: Geology and alteration map of the Espina project area (grid is WGS84 UTM19S)

3.5 Mineralisation

3.5.1 Regional Metallogenesis

The Espina property is in the eastern part of the Coastal Cordillera within a belt of Cretaceous plutonic and

volcanic units. Most of the rocks within the project area are assigned to the upper Cretaceous Lo Valle

Formation and controls on gold mineralisation are interpreted to be analogous with the nearby Minera

Florida deposit. The Coastal Cordillera of central Chile hosts a number of vein-type gold deposits and manto-

type Cu (Ag) deposits (Figure 26).



Figure 26: Metallogenic belt of Central Chile showing Espina property (modified after Kura Mineral Resources, 2016)

3.5.2 Nearby Epithermal Gold Deposits

Similar Cretaceous epithermal gold deposits including Alhué, El Membrillo and Chancon are located 24 km

south of Espina. The Alhué intermediate-sulphidation epithermal vein-type Au-Ag-Zn deposits (Yamana’s La

Florida mine) are economically important and similar in age and style as the epithermal veins at Espina. The

formation that hosts the Alhué vein Au-Ag-Zn deposits has a similar range of compositions, style and age as

the host rocks at Espina. The La Florida mine has been producing and since 1986 and as of 31 December 2017

had 1.3 Moz Au and 8.5 Moz Ag in reserves and resources.



Yamana’s La Florida mine and the adjacent El Membrillo and Chancon districts have historically produced

over 3 Moz of gold.

At Alhué, the veins and other structures are commonly surrounded by 15–30 m wide alteration zones (wider

in brecciated host rock) typical of epithermal systems. Hydrothermal silicic and propylitic (epidote, chlorite,

and actinolite) alteration, and locally adularia replaces plagioclase in some rocks. West and northwest of

Alhué, large zones of mapped hydrothermal alteration in the Estratos Horcón de Piedra and Lo Prado Upper

Member are barren or host minor Cu vein showings (Wall et al., 1996).

In the same Mesozoic metallogenic belt, the similarly low to intermediate sulphidation epithermal vein-type

deposits of the El Bronce de Petorca Au district, 150 km north of Santiago, produced ~630,000 ounces of

gold and are hosted in Cretaceous volcanic rocks that are equivalent to the Alhué and Espina host rocks in

age, composition and style.

Other epithermal deposits in the belt include the past producer Las Palmas, 40 km north of Talca, which

produced at a rate of 200–400 tonnes of ore per day between 1992 and 2004, and the producing Chépica

Mine, 25 km west of Talca, which is currently producing at 170–200 of ore tonnes per day.

The Espina project area also has potential for manto and porphyry style mineralisation. The genetic and

spatial relationship between the different styles of mineralisation is shown in Figure 27.

Figure 27: Diagrammatic representation of the potential mineralisation types and genetic relationship

3.5.3 Mineralisation at Espina

Mineral occurrences on the Espina property can be divided into four main types based on their geology,

mineralogy and location (Figure 28).

Epithermal Au-Ag quartz vein systems occur on the northeast-facing slopes that drain into Rio Angostura and

in the lower parts of Quebrada Las Tazas. These include Cacharro, San Rafael, Rajo Doña Clara (and

Resurrection), Mazamorra, Cuchilla, La Librera, Culebra, Puertelera, Los Patos, Patos Viejos, Patagual and

Pescadores (Figure 29).

Several zones of silicification, either sub horizontal bedding-controlled horizons or narrow, steeply dipping

northwest trending structures occur peripheral to the epithermal veins to the south and west, at generally



higher elevations. These silicified zones occur along a generally northwest-trending zone which from

northwest to southeast include Andacollo, Alejandro, Infiernillo, Los Llanos, Letrero, and Pueblo Hundido to

the east (Figure 28).

Five copper showings occur along a linear northwest trend that overlaps with adjacent high-level silicification

to the northeast and the argillic alteration to the southwest. These include, from north to south, the Loma

Del Tranque area and Galvez, Andacollo, San Ignacio, and Letrero II. This zone of Cu and quartz veining may

extend to the northwest of Loma Del Tranque and into the western part of the Espina property (Figure 28).

Strong argillic alteration occurs at the lowest elevations on the southwest and east sides of Puntillo Las

Cuevas and Puntilla Gruesa by Laguna Aculeo, Punta Los Letreros (and Letrero III) by the southeast corner of

the property and at the east end of Puntilla Hullis at the north corner of the east side of the property. This

alteration zonation may result from a combination of elevation and distance from the granite underlying

Laguna Aculeo (Figure 28).

Figure 28: Mineral occurrences, structures and rock chip data

Figure 29: Panoramic view looking south at the Espina property

Note: All red dashed lines are epithermal quartz vein showings with anomalous gold and silver.

3.6 Historical Mining and Exploration

The first mining activities in the district date back to the same period as the known Alhué mines in the second

half the 19th century.



The Spaniard Alejandro Garcia known as the first mining entrepreneur of the area, started the San Rafael,

Mazamorra and Resurrection mines.

At the beginning of the 1900s, Mina La Librera was discovered, reputedly producing one pound of gold per

metric ton. Around that same time, a ball mill was built in Valdivia de Paine. The remains of the buildings and

channels where the mineral was washed can still be seen near the town’s church.

During the mining boom of the 1930s to 1940s, the Chilean Government provided incentives for small and

medium sized mining companies. Mining declined between the 1940s and 1950s and unpaid wages led to the

closing of the La Librera mine.

From 1950 to 2009, little mining or exploration activity was recorded until 2009 when Colonial commenced

exploration.

3.7 Recent Exploration Activities - Colonial

Recent exploration commenced in 2009 when Colonial was granted 4,100 ha over the Espina project area.

Colonial undertook several exploration activities, however, did not complete any drilling. These exploration

activities can be summarised as follows:

Table 3: Recent exploration history by Colonial

Year Activity

2010– 2011

Fluid inclusion studies were undertaken confirming that the fluid inclusion compositions and temperatures and the vein textures observed on Espina property are characteristic of low sulphidation epithermal precious metal deposits.

2011 William F. Kerby of Spectrum GeoSoluciones E.I.R.L. completed an aster imagery analysis of the Espina property.

2011– 2012

Antonio Celis mapped and sampled Espina Central, sampling veins and producing a structural study of San Rafael (Don Raul).

2012 Abel Ballón completed a preliminary geological investigation of La Librera underground and on surface, including extensions northwest to El Alamo and southeast to La Puertelara.

2013

Biogeochemical sampling and analysis by studies were undertaken.

Exploration NI 43-101 report.

Review of previous work and report on initial visit and structural mapping of the Espina Project, Maipo Province, Chile.

Spectral analysis VIS/NIR/SWIR.

2014

Airborne magnetic and radiometric surveys.

Structural interpretation of magnetic and geomorphology data.

Soil sampling program consisting of 50 m x 50 m grids and 50 m spaced ridge samples collected 15 February 2014 to 7 March 2014 (approximately 584 samples), and follow-up infill soil samples and prospecting soil sampling of 27 March 2014 to 8 April 2014 (approximately 97 samples) for a total of 681 samples.

35 samples which were collected during the period 15 February 2014 to 8 April 2014, including seven channel samples at Andacollo and four channel samples at Puertelera.

3.8 Recent Exploration - Tesoro

The exploration model for the Espina Project is the Cretaceous Alhué intermediate epithermal vein-type Au-

Ag-Zn deposits at Yamana’s La Florida mine 24 km south of La Librera in Espina Central. The formation that

hosts the Alhué vein Au-Ag-Zn deposits has a similar range of composition, style and age as the host rocks at

Espina. Exploration by Tesoro includes geological mapping, rockchip sampling and an initial surface soil

geochemical program.

The immediate exploration targets on the Espina property are clearly defined by the historical workings and

by the exploration activities by Colonial and Tesoro (Figure 30). Additional exploration along strike from

known mineralisation and for blind mineralisation also presents an opportunity. The following summary of

exploration targets is largely summarised from Love (2013) and presented in the following sections.



Figure 30: Location of historical workings (grid is WGS84 19S, north is up the page)

3.8.1 Mina La Librera

Mina La Librera is a small historical underground mine that targeted a steeply dipping epithermal quartz vein

that ranges from <0.5 m up to 3 m thick. The workings are located on a northwest-trending structure which

joins with the Puetelera workings in the southeast (Figure 31 and Figure 32).

Rock sampling at Mina La Librera has consistently shown anomalous gold values in quartz vein outcrops both

at surface and in underground exposures and in mine waste dump material, making this a high priority for

further exploration. Grab samples in the historical workings at Mina La Librera show a range in gold values

up to 25.5 g/t. Quartz vein material at Mina La Librera is generally massive, white, strongly fractured and

brecciated, with local cockscomb quartz and rare colloform banding defined by finely disseminated sulphides

(Figure 33).



Results from previous channel sampling underground at Mina La Librera show assay values ranging up to

12 g/t Au and 45.5 g/t Ag over 0.7 m. Channel samples have values of 5.4 g/t Au over 1 m and 5.0 g/t Au over

1 m. The highest grade surface outcrop sample from the Mina La Librera area contains 16.2 g/t Au and 13.1 g/t

Ag over 0.5 m and is from the Alamo vein which is 200 m along strike to the northwest of, and en-echelon

to, the Mina La Librera structure (Figure 31).

The rock chips assay grades were collected prior to Tesoro involvement in the project and are considered as

indicative only as details of sampling methodology, QAQC and analytical details are not available due to the

historical nature of the results. As such the samples can only be considered to provide indications of

anomalism which CSA Global consider worthwhile of further exploration activities.

Figure 31: Location of Librera and Puetelera projects and channel samples by Tesoro demonstrating the strike relationship between the two prospects (grid is WGS84 UTM19S)



Figure 32: Relationship between the structures hosting Mina Librera and Puertelera mine workings (Patos Viejos)

and the Infiernillo structure, hosting the San Raphael, Cuchilla and Mazamora prospects



Figure 33: Photograph of colloform banding from the Mina La Librera workings

3.8.2 Puertelera

The mine workings at Puertelera are located along strike from Mina La Librera and consist of four small

inclined tunnels or adits that intersect a <2 m-wide, northwest-striking quartz vein. Grab samples from the

vein outcrop and mine dump material range up to 69.3 g/t Au (Figure 31). Quartz vein material comprises

generally massive brecciated white quartz, locally with epithermal cockscomb quartz and rare colloform

banding. Channel samples from outcrops of vein material in the adit entrances run as high as 3.6 g/t Au over

4 m.



The Puertelera vein and the Mina La Librera vein are along strike and they have a similar style of

mineralisation. These observations strongly indicate a continuous structure exists between these two areas

which is favourable for further exploration (Figure 31).

The rock chips assay grades were collected prior to Tesoro involvement in the project and are considered as

indicative only as details of sampling methodology, QAQC and analytical details are not available due to the

historical nature of the results. As such the samples can only be considered to provide indications of

anomalism which CSA Global consider worthwhile of further exploration activities.

3.8.3 San Raphael

San Raphael is located on the Infiernillo structure which parallels Patos Viejos structure (Figure 32).

Mineralisation occurs in an array of banded and brecciated quartz veins at San Rafael. Locally, vein

orientations range from east-west and vertical to northwest to southeast and dipping steeply southwest

(Figure 34). Faults parallel the veins and slickensides on many faults plunge shallowly to the east. Veins locally

occur in conjugate pairs, are irregular in width and curve, locally forming lozenges; and splay or end in

horsetails. Evidence of previous mining activities at San Raphael are shown by collapsed areas and waste

dumps, along the east-west trending structure. According to local inhabitants, gold was mined from

underground workings at San Raphael. These workings are now collapsed and inaccessible (Figure 34).

Several other prospects are located on the Infiernillo structure (Fajo Dona, Clara, Resurrection, Mazamora

and Culebra) and these are discussed in Table 4.

Samples collected from outcrops and mine dump material at San Raphael are shown in Figure 34.



Figure 34: Rock chip samples from the San Raphael, and other prospects in the area

Note: The rock chips samples were collected prior to Tesoro involvement in the project and are considered as indicative only as details of sampling methodology, QAQC and analytical details are not available due to the historical nature of the results. As such the samples can only be considered to provide indications of anomalism.



3.9 Geochemical Soil Sampling Programs

Historical geochemistry programs have been completed Colonial which highlighted the main prospect areas

that are exposed (i.e. Puertelera, Andacollo, Infiernio, and Punta Los Letreros) Figure 30.

Tesoro completed a multi-element soil geochemical survey in 2018 over the central part of the project area

encompassing the major northwest trending structure and interpreted link structures. The generally thin soil

cover means that the survey is effectively a direct detection method; however, it also reduces the potential

to detect wider dispersion patterns as a vector to potential deeper buried deposits. CSA Global reviewed

several elements from the soil sampling survey and found that that Au, Ag, As and Cu provided geochemical

signatures that reflect the historical workings as well as the major structures and some of the linking

structures.

Gold geochemistry is well reflected around the major workings and with limited dispersion. The gold results

also appear to indicate potential for link structures between the major structures (Figure 35).

Figure 35: Gridded gold geochemistry in relation to historical workings and major and minor structures

Silver geochemistry displays a wider dispersion than gold within the same broad patterns and an indication

of link structures, though not as well defined. There appears to be some issues in the southern part of the

survey where east-west patterns may be indicative of sample batch problems (Figure 36).



Figure 36: Gridded silver geochemistry in relation to historical workings and major and minor structures

Copper geochemistry shows strong association with gold and silver at the Mazamora workings, however, is

generally subdued at the other workings potentially indicating a different level or style of epithermal

mineralisation. In the southern part of the survey similar assay batch problems are apparent as per the silver

geochemistry (Figure 37).



Figure 37: Gridded copper geochemistry in relation to historical workings and major and minor structures

Arsenic geochemistry (Figure 38) forms strong patterns around the Marmoza, Mina La Libra and Puertelera

historical workings. Arsenic also highlights the northwest trending link structure very well as indicated by the

Au, Ag and Cu results.



Figure 38: Gridded arsenic geochemistry in relation to historical workings and major and minor structures

Several other elements such as antimony, lead and molybdenum also provide similar but less defined

patterns as the elements discussed above. CSA Global consider the soil sample reflects the geochemical multi-

element complexity of the exposed workings and the leakage along major and interpreted link structures,

which is encouraging for further exploration. Tesoro intend to continue the soil geochemical sampling

programs upon successful completion of the RTO.



3.10 Other Prospects on the Espina Concession

Table 4 summarises the other prospects on the concession and the results attained. These represent

exploration prospects at various early stages of exploration (Table 4 and Figure 39).

Table 4: Summary of additional exploration targets on the Espina Concession

Prospect Description

Cuchilla and Mazamora

Quartz veins at Cuchilla, strike west-northwest and dip moderately to the southwest. Quartz veining and breccia is accompanied locally by argillic alteration, and elsewhere by sericitic alteration and pyrite. In areas with sericite alteration, At Mazamora, a parallel quartz vein breccia strike north-northwest and dip steeply west, cutting ignimbrite. Five channel samples at Cuchilla 2 with anomalous results up to 0.017 g/t Au and 0.4 g/t Ag. Of the three channel samples at Mazamora, one (in quartz vein breccia) produced anomalous results of 0.16 g/t Au, and 2.5 g/t Ag.

Culebra

Quartz veinlets and joints range in strike from north-northeast to north-northwest and dip steeply east and west. Four steeply dipping mafic dykes were noted in the area, but with no consistent strike orientation. Around the Culebra vein itself, sericite alteration is surrounded by peripheral epidote ± chlorite. Near the Culebra vein, there is a zone of strong argillic alteration. One channel sample across the Culebra veins assayed 0.02 g/t Au and 0.3 g/t Ag.

Los Patos, Patos Viejos, Patagual, Pescadores

Channel sample analyses from Los Patos are highly anomalous, with 0.97 g/t Au and 0.9 g/t Ag. Results from Patos Viejos are mildly anomalous. Patagual yielded excellent results, with Au up to 1.1 g/t and Ag up to 2.6 g/t. Pescadores channel sample analyses are mildly anomalous.

Infiernillo

Infiernillo quartz veins and vein breccia outcrop on Morro Infiernillo and extend along a north-northwest trend for about 1.3 km from its peak. Individual veins strike north-south and dip very steeply east and west. Epithermal quartz veins are commonly surrounded by moderate to strong sericitic alteration. Rare argillic alteration surrounds veining. Quartz veins strike approximately north-south and dip vertically to steeply both directions, east and west. Channel sampling in the Ladera Infiernillo and Morro Infiernillo area assay up to 0.09 g/t Au and Ag up to 6.7 g/t and up to 278 ppm Cu.

Los Llanos In the Los Llanos (La Gruta) area, strong sericite and locally argillic alteration accompanies quartz veins, which locally contain trace chalcopyrite. Geochemical results from prospecting are variably anomalous in Au, Ag and Cu.

Pueblo Hundido

In the Pueblo Hundido area, a west-northwest to east-southeast trending steeply dipping zone/ structure of silicification and quartz several metres thick. Evidence of past workings includes an old adit and a few pits. Although an important part of a hydrothermal plumbing system, two samples collected did not contain anomalous Au mineralisation.

Andacollo

There are two main conjugate sets of quartz veinlets and veins: one set strikes north-northwest and dips moderately to steeply west, and the second strikes north-northeast and dips steeply west to vertically. Stockwork is locally developed in areas of strong veining. Carbonate and argillic alteration accompany the Cu in the brecciated early dyke. Sericite alteration and silicification accompany the quartz veining in the ignimbrite. Trace to 1% pyrite and chalcopyrite occur in both styles of alteration and mineralisation, and gossanous alteration to limonite affects both. Five channel samples gave values with Au up to 0.12 g/t and Cu up to 1,160 ppm

Loma Del Tranque and Galvez

In the Loma Des Tranques area, a fault zone contains a quartz vein with chalcopyrite that strikes southwest and dips steeply northwest. Where epithermal quartz veins cut tuff, the host rock is limonite stained and argillically altered or silicified depending on the location; traces of box work after pyrite remain. Some quartz vein float contains coarse chalcopyrite altered to dark grey vitreous chalcocite. Three channel samples yielded Au up to 0.94 g/t, Ag >100 g/t and 1.9% Cu.

San Ignacio

In the San Ignacio area, several adits and pits were developed on a zone of fractured quartz veinlets and shearing with trace pyrite, chalcopyrite and malachite in sericite-altered tuff. Fractures, shearing and veins strike north-northwest to south-southeast and dip steeply west-southwest. Geochemical results from three channel samples are excellent, with Au up to 1.0 g/t, Ag up to 14 g/t, and 1.4% Cu.

Letrero

The Letrero area is underlain by copper quartz veins, silicified structures, epithermal quartz veins with elevated gold values and advanced argillic alteration. There is an argillically altered granite and porphyry with local silicification as well as the presence of pyrophyllite and diaspora, which are characteristic of high sulphidation epithermal alteration minerals. The ignimbrite is cut by quartz veins, quartz breccias and silicified zones that strike southeast and dip steeply southwest. Strong (pervasive) argillic (clay) alteration surrounds the quartz vein and silicified zones above Letrero 1. The silicified zone in Letrero 1 is 50 cm wide in the underground adit and contains quartz veinlets and disseminated fine-grained pyrite >5%. South of Letrero 1, copper-stained veins at Letrero 2 contain disseminate



Prospect Description

chalcopyrite and malachite. At Letrero 2, where two channel samples assayed 2.1% Cu and 9 g/t Ag and 0.5% Cu, and 7 g/t Ag.

Large areas of advanced argillic alteration

In the lower areas of the project area, at Punto Los Letreros, Puntilla Gruesa and Puntilla Las Cuevas, altered ignimbrite and/or dacitic ash tuff has been intruded by equigranular to porphyritic granite. In these areas, strong argillic alteration (locally containing diaspore) with variable limonite is common in both host and intrusion. In places, silica alteration occurs within the argillic alteration zone, and contains box work assumed to be after pyrite.

Note: The rock chips samples were collected prior to Tesoro involvement in the project and are considered as indicative only as details of sampling methodology, QAQC and analytical details are not available due to the historical nature of the results. As such the samples can only be considered to provide indications of anomalism.

Figure 39: Prospect locations

3.10.1 Conclusions

The Espina Gold Project contains numerous historical workings and structures, exhibiting epithermal-style

gold mineralisation, that have been tested by limited surface exploration methods. Past exploration activity

has included various geochemical exploration programs (soil, biogeochemistry and rock chip sampling) as

well as fluid inclusions, geological mapping and airborne magnetics surveys.

Consistently anomalous gold values in channel samples from La Librera and Puertelera make these two

prospects an obvious immediate target for further exploration to confirm these historical geochemical

Rockchip results. This zone of interest has a strike length of more than 1 km. There are also several prospects

with narrow epithermal veins that clearly represent part of the overall system that require further

exploration.

CSA Global reviewed several elements from the recent Tesoro soil sampling survey and found that that Au,

Ag, As and Cu provided geochemical signatures that reflect the historical working as well as the major



structures and some of the linking structures. Further evaluation of the multi-element geochemistry and

additional geochemical programs to establish strike extensions to mineralisation and infill geochemistry may

provide direct exploration targets.

The epithermal mineralisation style is low sulphidation to intermediate sulphidation, similar to the Alhué

vein-type Au-Ag-Zn deposits mined by Yamana Gold, 24 km to the south.

The Espina property lies along the northern margins of a broad zone of advanced argillic alteration which

could be part of a much larger high sulphidation epithermal gold system or possibly a porphyry copper target.

Additional exploration work at Espina is highly recommended to further define and understand this broader

alteration system.

CSA Global consider the prospects remains under-explored with no drilling undertaken on the property.



4 EL Zorro and Espina Planned Work Programs

Tesoro are seeking to raise a minimum of $4,500,000 and maximum of $5,500,000 to progress work

programs on their projects in Chile (Table 5).

Table 5: Use of proceeds from the capital raising

Minimum Subscription ($) Maximum Subscription ($)

Funds available $4,500,000 $5,500,000

Existing cash reserves 400,000 400,000

Funds raised from the Offer 4,500,000 5,500,000

Total 4,900,000 5,900,000

Allocation of funds ($) ($)

El Zorro Exploration 2,175,000 2,575,000

Espina Exploration and Earn-in Expenditure

850,000 1,150,000

Project Cost Reimbursement Payments 295,000 295,000

Partial Repayment of Director Loan to entities associated with Geoffrey

McNamara 75,000 75,000

Costs of the Offer 485,990 547,066

Corporate overheads and administration costs

830,000 830,000

Administration costs and working capital 189,010 427,934

Total 4,900,000 5,900,000

4.1 El Zorro Planned Work Program

Tesoro has planned a systematic exploration program targeting the prospective diorite-hosted mineralisation

(Coquetas). Exploration activities will initially focus on defining the mineralisation footprint with two “result

dependent” programs of drilling followed by resource estimations, assuming successful outcomes.

Metallurgical test work will be undertaken on selected drill core to characterise grade, rock type, alteration

styles and other geo-metallurgical aspects.

Broader exploration activities will include detailed and extensional geochemical sampling and mapping

programs on the northwest-trending corridor from the Coquetas, where additional diorite targets have been

identified, in particular the Buzzard and Drone prospects.

Tesoro is planning to commission a ground magnetic survey to investigate the potential for intrusions with a

similar magnetic response as the mineralised diorite. The magnetic survey may also be useful to map the

deposit and district scale structural architecture. Another objective of the magnetics is to assist in defining

discrete drill targets where gold mineralisation is associated with increased pyrite and pyrrhotite in the

diorite host. It will also help identify crosscutting lamprophyre dykes, some of which correlate with high gold

grades and the mineralising structures.

The magnetic survey will also provide a detailed topography survey (<5 m contours) of the project area.



4.2 Espina Work Program

The exploration program for the Espina Project includes extension and infill to the current geochemistry,

trenching and drilling. Geochemistry programs include extending previous soil geochemical sampling along

strike of key prospects on prospective structures hosting known mineralisation and broader geochemical

sampling programs with the aim to detect hidden or poorly exposed mineralisation using low detection

analytical techniques.

Other planned exploration includes trenching along strike of known mineralised structures to explore for

extensions or repetitions that may have a subtle surface expression.

Based on the results of these exploration programs, a program of diamond drilling will test the most

appropriate targets.

The breakdown of exploration activities is outlined in Table 5 (above).



5 Technical Risks

5.1 El Zorro Project

The key technical risks on the El Zorro Project are:

• Exploration activities are not always successful as with any exploration and mining company and there is

the risk that commodity prices may fall below prices that sustain a potential mine.

• The progression of the project to increasing levels of confidence is dependent on the outcome of further

exploration activities. There is no guarantee that additional exploration will lead to developing a

resource. However, Tesoro has a strong technical team with local in-country experience, which will

mitigate this risk.

• The results from CDE drilling cannot be verified; however, Tesoro is not relying on these drillholes other

than to define an advanced prospect.

5.2 Espina Project

The key risks at the Espina Project are:

• Drilling may intersect sub-economic mineralisation due to veins being narrow, low grade or pinching out.

These are typical risks associated with this level and type of project. This risk is partially offset by having

numerous exploration projects to evaluate.

• The location of Espina is located near several local properties and is quite close to villages, potentially

creating issues with exploration and development activities. This is partly mitigated by the history of

mining activity and good relationships with landholders through Colonial.

• The textures indicated in the field visit are generally indicative of hotter fluids, i.e. dog tooth quartz veins,

“bucky” and massive vein textures and amethystine veining, indicative of being deeper in the system and

therefore below the ideal mineralising level. That said, these veins are gold mineralised, and fluid

inclusions from samples in the area have indicated lower temperatures than indicated by the vein

compositions and textures. It is possible that various high and low temperature overprints can occur in

the same field, resulting in apparently contradictory temperatures over short vertical distances such as

can be seen in other important epithermal districts.



6 Use of Funds

Tesoro is seeking to raise between $4.5 million and $5.5 million for exploration on the Chilean properties.

The total expenditure on exploration in the first two years amounts up to just under 60% of the total funds

raised for exploration activities. Additionally, 9% of the total funds are for milestone payments and

acquisition costs.

The focus of expenditure in Year 1 is primarily weighted to further drilling and exploration on the advanced

El Zorro Project, where previous exploration has outlined significant mineralisation which has been confirmed

by recent Tesoro drilling. There is an adequate amount allocated towards metallurgical sampling (Table 6).

Broader extensional exploration is also planned on the northeast-trending corridor and to the south at the

Buzzard Prospect, defined by the mineralised diorite and geochemistry with some first pass drilling planned.

An adequate amount has been allocated towards the Espina property where numerous historical mine

workings and an extensive alteration footprint on semi-continuous structures define a number of exploration

targets. Soil geochemistry and trenching is proposed followed by exploration drilling.

CSA Global has reviewed the exploration programs and is of the opinion the programs are appropriate, and

the funds allocated will be sufficient to commence the proposed programs and sustain exploration activities

over the first two years. Progressive expenditure will naturally depend on the success of the proposed

exploration activities. Tesoro may require additional funds should the outcome of the initial stages of

exploration require modification to the proposed activities.

Table 6: Proposed use of funds in the first two years of exploration

TESORO USE OF FUNDS

Funds available Minimum Subscription Maximum Subscription

$4,500,000 $5,500,000

El Zorro Exploration $2,050,000 $2,500,000

Espina Exploration $850,000 $1,150,000

Milestone Payments $450,000 $450,000

Administration costs and working capital $1,000,000 $1,150,000

Costs of the Offer $550,000 $650,000

Total $4,900,000 $5,900,000



7 Conclusions

The mineralisation model based on the CSA Global field visit and exploration by Tesoro indicate the El Zorro

mineralisation is likely to be of the intrusive related gold deposit type as described in Section 2.6.2.

The mineralisation in the Espina Project is typical epithermal-style mineralisation similar to the Yamana Gold

Project 24 km to the south.

In CSA Global’s opinion, the El Zorro and Espina projects represent opportunities to progress advanced

properties with datasets that are at the drill-ready state (El Zorro) or near drill-ready state (Espina).

7.1 El Zorro Project

CSA Global recommends the following for the El Zorro Project:

• Further drilling to test plunge positions of vein systems and drill test offsets to the north may add valuable

information on the grade distribution

• Core drilling with a suitable orientation device is recommended to generate better 3D orientation data

of vein orientations over the full strike of mineralisation

• Improve core handling procedures in terms of reconstructing core

• For further drilling, commence holes with PQ core to protect the collar in case of poor ground conditions

and increase the flexibility to reduce the hole size to a smaller diameter if ground conditions require

• Topographic control and survey of new and existing drillholes

• Continued QAQC on all drilling and any sampling completed (rock chip, channels etc.)

• Complete metallurgical testwork on selected samples.

7.2 Espina Project

CSA Global recommends the following on the Espina Project:

• With the significant number of prospects on the Concession, a system of ranking and prioritising

prospects is required to ensure the prospects are evaluated in a systematic manner with the better

prospects targeted first

• Extend the current soil geochemistry grids along strike of the major structures and which highlight the

known workings

• Review the geochemical data and remove the batches that appear to be “batch errors” represented by

apparent “East-West anomalies” prior to undertaking new PCA or other geochemical correlations

• Domain the geochemistry based on lithology and by structure

• Review the potential for linking structures between the Infiernillo structure and the Pato Viejos structure

• As discussed with El Zorro, the terrain and exposure of prospects makes trenching and slope cuts an

appropriate exploration technique for testing structures, particularly between known prospects

• Continued QAQC on all drilling and any sampling completed (rock chip, channels etc.).



8 References

Cooley, M., 2018, Steeply SSE plunging ore shoots as probable control of high grade Au mineralization at El Zorro based on geologic mapping, drill hole data and stereonet interpretations. For Tesoro Resources.

JORC, 2012. Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (The JORC Code) [online]. Available from (The Joint Ore Reserves Committee of The Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia).

Kura Mineral Resources, 2016; Chile's 6 Major Metallogenic Belts.

Love, David A., 2013 Consulting Review of Previous Work and Report on Initial Visit and Structural Mapping of the Espina Project, Maipo Province, Chile for Colonial Resources SMC, Santiago, Chile

Oliver, Nick, HCOV Global, 2018. Structural setting and controls on mineralization, El Zorro gold project, northern Chile For Zeffron Reeves, Tesoro Resources

Swensson, Carl, Swensson Resource Management, 2016. Project Overview and Status Report

VALMIN, 2015. Australasian Code for Public Reporting of Technical Assessments and Valuations of Mineral Assets (The VALMIN Code) [online]. Available from http://www.valmin.org (The VALMIN Committee of the Australasian Institute of Mining and Metallurgy and Australian Institute of Geoscientists).

Wall, R., Gana, P., Gutiérrez, A. 1996. Mapa geológico del área de San Antonio – Melipilla. Sernageomin, Escala 1:100.000, 19 p., Santiago de Chilé.



9 Glossary

Below are brief descriptions of some terms used in this ITAR. For further information or for terms that are

not described here, please refer to internet sources such as Wikipedia.

Argillic alteration Argillic alteration is hydrothermal alteration of wall rock which introduces clay minerals including kaolinite, smectite and illite. The process generally occurs at low temperatures and can be associated with epithermal mineralisation.

Andesite A dark, fine-grained, brown or greyish intermediate volcanic rock which is a common constituent of lava flows.

Assay A measured quantity of material within a sample.

Basement Highly folded, metamorphic or plutonic rocks, often unconformably overlain by relatively undeformed sedimentary beds (or cover).

Breccia Coarse, clastic, sedimentary rock, the constituent clasts of which are angular. The term may also be applied to angular volcanic rocks from a volcanic vent.

Carboniferous Penultimate period of the Paleozoic era, preceded by the Devonian and followed by the Permian. It began about 359.2 Ma ago and ended about 299 Ma ago.

Collar Geographical coordinates of a drillhole or shaft starting point.

Concession System of granted tenure which could refer to either exploration or exploitation.

Cretaceous Third of the three periods included in the Mesozoic Era. It began 146 Ma ago and ended 65.5 Ma ago.

Copper Copper is a chemical element with symbol Cu and atomic number 29. It is a soft, malleable, and ductile metal with very high thermal and electrical conductivity.

Cut-off grade Threshold above which material is selectively mined or queried.

Devonian The Devonian is a geologic period and system of the Paleozoic, spanning 60 million years from the end of the Silurian, 419.2 Ma, to the beginning of the Carboniferous, 358.9 Ma.

Diorite Diorite is an intrusive igneous rock composed principally of the silicate minerals plagioclase feldspar (typically andesine), biotite, hornblende, and/or pyroxene. The chemical composition of diorite is intermediate, between that of mafic gabbro and felsic granite.

Dyke Dyke (or dike) in geology is a type of later vertical rock between older layers of rock. Technically, it is any geologic body which cuts across: flat wall rock structures, such as bedding, massive rock formations, usually igneous in origin.

Epithermal Deposits occurring in low temperature veins, irregular branching fissures, stockworks, or breccia pipes. Colloform and replacement textures are sometimes recognised, but majority of epithermal deposits are characterised by open space filling textures (crustification, comb, colloform textures).

Faults Approximately plane surface of fracture in a rock body, caused by brittle failure, and along which observable relative displacement has occurred between adjacent blocks.

Gold Native gold is an element and a mineral. Gold occurs in hydrothermal veins deposited by ascending solutions, as disseminated particles through some sulphide deposits, and in placer deposits.

Intrusive related gold deposit

Intrusive Related Gold Deposit. Deposit type related to intermediate intrusives with low sulphide content and subdued alteration and restricted in areal extent and low in base metal content.

Lamprophyre Lamprophyres are uncommon, small volume ultrapotassic igneous rocks primarily occurring as dykes, lopoliths, laccoliths, stocks and small intrusions.



Monzodiorite Monzodiorite is a coarse-grained igneous rock consisting of essential plagioclase feldspar, orthoclase feldspar, hornblende, and biotite, with or without pyroxene. Plagioclase is the dominant feldspar making up 60–90% of the total feldspar and varying from oligoclase to andesine in composition.

Sheeted vein A group of closely spaced, distinct parallel fractures filled with mineral matter and separated by layers of barren rock.

Silver Silver is a chemical element with symbol Ag and atomic number 47. A soft, white, lustrous transition metal, it exhibits the highest electrical conductivity, thermal conductivity, and reflectivity of any metal.

Tonalite Tonalite is an igneous, plutonic (intrusive) rock, of felsic composition, with phaneritic texture. Feldspar is present as plagioclase (typically oligoclase or andesine) with 10% or less alkali feldspar. Quartz is present as more than 20% of the rock.



10 Abbreviations and Units of Measurement

% percent

° degrees

°C degrees Celsius

3D three-dimensional

Ag silver

AIG Australian Institute of Geoscientists

AIPG American Institute of Professional Geologists

ASIC Australian Securities and Investments Commission

ASX Australian Securities Exchange

Au gold

AusIMM Australasian Institute of Mining and Metallurgy

CDE Coeur d’Alene Mines Corporation

cm centimetres

Colonial Colonial Resources SCM

CSA Global CSA Global Pty Ltd

Cu copper

EZT El Zorro Tonalite

g/t grams per tonne

Goldsmith Goldsmith Mines Chile Ltda

ha hectares

IOCG iron oxide copper-gold

IPO Initial Public Offering

ITAR Independent Technical Assessment Report

JORC Code Australasian Code for Reporting of Mineral Resources and Ore Reserves

km kilometre(s)

km2 square kilometre(s)

m metre(s)

M million(s)

mm millimetres

Moz million ounces

Mt million tonnes

oz ounce(s)

QAQC quality assurance and quality control

RAB rotary air blast

RCP reverse circulation percussion

RTO reverse takeover

Tesoro Tesoro Resources Limited

Zn zinc


CSA Global Report Nº R465.2019

Appendix 1: Tenement Schedule

El Zorro Tenure

The El Zorro Gold Project (El Zorro) consists of forty-one granted exploration concessions totalling

10,000 ha (Table A1), three exploitation concessions (570 h) (Table A1) and two exploration concessions

in the process of being converted to exploitation concessions (

Table A2) in Region 3, Atacama, Chile, approximately 60 km north of the coastal town of Caldera.

On 17 July 2017, Tesoro Chile entered into an agreement with José Agustín Bahamondes Améstica (El Zorro

Vendor), by which Tesoro has a right to earn up to an 80% interest in El Zorro (Figure A1).

Table A1: El Zorro – exploration concession details

Name First term expiry date Area (ha) Type

ZORRO 1 12 Jan 2020 200 Exploration






Bloody Good Shot 10 2 Aug 2020 300 Exploration










Bloody Good Shot 11 22 Oct 2020 200 Exploration



Punta de Diamante 1 14 Feb 2021 200 Exploration



La Negra Coja 19 14 Feb 2021 200 Exploration















Name First term expiry date Area (ha) Type


La Negra Coja 5 1 Mar 2021 300 Exploration





Table A2: El Zorro – exploitation concessions and applications

Name Status Area (ha)

LAS COQUETAS 1/10 Granted 140

PATON UNO, 1/29 Granted 240

PATON DOS, 1/29 Granted 230

LEON DOS 1-30 Converting to exploitation concession 300

LEON UNO 1-30 Converting to exploitation concession 300

Tesoro Chile and the El Zorro Vendor hold their respective interests in El Zorro through a joint venture

company, Wanaco SpA (an entity incorporated in Chile), which owns 100% of El Zorro S.C.M, an entity

incorporated in Chile, which in turn holds 100% of the interests in the El Zorro project tenure.

The key terms of the El Zorro Agreement are summarised below.


The El Zorro Agreement provides that Tesoro can exercise multiple options in order to acquire up to 80%

of the El Zorro Project through:

(i) reimbursing the El Zorro Vendor for historical costs incurred in development of the El Zorro

project in stages as set out in the ‘project payment schedule’ below (Project Payments); and

(ii) incurring expenditure on exploration and development of the project in stages as set out in the

‘exploration commitment schedule’ below (Expenditure).The terms of agreement for the granted

concessions with the vendor are outlined in Table A3 and Table A4.

Table A3: Project Payment schedule:

Stage Project

Payment (USD) Date to complete

Status


1 100,000 17 January 2018 Complete 10%

2 50,000 1 October 2018 Complete 51%





Table A4: Exploration commitment schedule:

Stage Expenditure

(USD) Date to

complete

Status

1 Nil Nil Nil

2 2,000,000 17 July 2020 Incomplete, approximately USD$1.5 million of expenditure has been completed, with

USD$500,000 remaining to complete this stage.

Tesoro has acquired a 51% beneficial ownership interest in El Zorro but must

complete this expenditure requirement by July 2020 to prevent clawback to 10% ownership.

3 1,500,000 17 January 2021 Incomplete

4 Nil Nil Nil – feasibility study to be completed

For further details see the solicitors report in the prospectus.



Figure A1: Tenement boundaries at El Zorro



Espina Tenure

The Espina Gold/Copper Project (Espina) consists of 13 granted exploration concessions for 2,800 ha (Table

A4) and 14 exploitation concessions for 2,631 ha.

On 11 December 2017, Tesoro Chile executed a share purchase agreement with Inversiones Cabo de la

Esperanza Limitada (a Chilean mining company) (Inversiones) and Colonial Resources S.C.M (Colonial)

(together, the Espina Vendors), by which Tesoro Chile is entitled to acquire up to 100% of the shares in Nueva

Colonial S.C.M (Espina JV Company), which owns a 100% interest in Espina (Espina Agreement) according to

the terms set out in

Table A5 and Table A6.

Table A4: Espina granted concessions

Name First time expiry Area (ha) Type

PAINE 5 4 Jul 2020 100 Exploration



PAINE 6 12 Jun 2020 200 Exploration

PAINE 4 18 Dec 2020 300 Exploration

PAINE 2 22 Jun 2020 300 Exploration

ISLA 2 29 Jun 2020 200 Exploration







ESPERANZA UNO, 1/228 No expiry 228 Exploitation

ESPERANZA TRES, 1/300 No expiry 300 Exploitation

ESPERANZA DOS, 1/300 No expiry 300 Exploitation

ESPERANZA CUATRO, 1/300 No expiry 300 Exploitation

ESPERANZA CINCO, 1/200 No expiry 200 Exploitation

LA ESPERANZA UNO, 1/120 No expiry 120 Exploitation

LA ESPERANZA Segunda 1/10 No expiry 100 Exploitation

LA ESPERANZA CUATRO, 1/55 No expiry 55 Exploitation

LA ESPERANZA CINCO, 1/200 No expiry 200 Exploitation

LA ESPERANZA SEIS, 1/138 No expiry 138 Exploitation

LA ESPERANZA SIETE, 1/200 No expiry 200 Exploitation

LA ESPERANZA NUEVE, 1/200 No expiry 200 Exploitation

LA ESPERANZA DIEZ, 1/200 No expiry 200 Exploitation



LA PERSEVERANCIA, 1/9 No expiry 90 Exploitation

Table A5: Project payment schedule

Stage Project

Payment (USD) Date to complete

Status


1 135,000 11 December 2019 USD$85,000 completed, USD$50,000 remaining.

30.50%

2 50,000 11 December 2020 Incomplete 60%



5 4,000,000 11 December 2023 Incomplete – this can be paid by cash or shares.

100%

Table A6 Exploration commitment schedule

Stage Expenditure

(USD) Date to complete

Status

1 750,000 11 September 2020 Tesoro has advised that it has incurred approx. USD300,000 as at the date of this

Report.

2 750,000 11 September 2021 Incomplete

3 1,500,000 11 September 2022 Incomplete

4 1,500,000 11 September 2023 Incomplete

5 Nil Nil Nil

There are additional option payments required (Table A7) and further payments should the property go to

production. For further details see the solicitor’s reports.

Table A7: Additional option payments

Payment due date Price for Perseverancia (USD) Price for Esperanza (USD)

7 December 2019 45,000 10,000

7 December 2020 244,575 49,225



Figure A2: Concession map for Espina properties



Appendix 2: Site Inspection

El Tesoro Chile Au-prospects field review

Federico Cernuschi 23 March 2018

For the purpose of contributing to an independent technical assessment report (ITAR) that is being produced

by Ian Stockton (CSA Global), I visited El Zorro and La Espina Au-prospects in 21 and 22 March 2018

respectively. The visits were guided by the Tesoro country manager Serigo Uribe.

El Zorro

El Zorro is located ~15 km east of the town of Obispito, where there is connection to the national power grid

and highway network. Access from Obispito is on dirt roads that are in relatively good conditions. Water and

fuel for drilling operations is trucked from Obispito. Sergio Uribe reported groundwater in most of the holes

drilled by Esoro in 2017 that could be considered a source of water for future drilling or other operations.

Caldera is the largest town closest to the prospect and appears to be a safe centre of operations with good

services. The drillhole core is stored in Copiapó, the biggest city of the area, ~130 km to the south of the

prospect.

The field visit was focused on the drilled area and surroundings. The figure below shows drillhole collar

locations obtained by handheld global positioning system (GPS).

Figure B1: Location of initial Tesoro 10 drill collars



The geology that was observed during the field visit consists of plagioclase micro-porphyritic intrusion of

presumed andesitic composition, that crosscuts chloritized siltstone and lesser claystone. Near the intrusion

contacts, the wall rock is now a biotite-rich hornfels. It is not clear if the intrusion is a dyke, a stock or a group

of small intrusions.

Figure B2: Left – Plagioclase micro-porphyritic intrusion; Right – Biotite-rich hornfels

Note: Both pictures taken in the proximity of the collar of drillhole ZRDDH-0010.

There are several old workings in the property but are difficult to access to make observations on the mined

material. Based on floats next to the workings, miners appear to have mined quartz veins and/or silicified

material with low abundance of sulphides. Mineralised structures range from ~0.5 m to 3 m in thickness,

extend for tens of metres and appear to be most common close to the inferred footprint of the intrusion(s).

The largest elongated working that was visited is located to the northeast of the drilled area (“workings” on

Google Earth image above). This structure strikes 155°/75° (RHR); however, other similar structures strike

close to east-west and also appear to have a steep dip (these were not visited but observed from the

distance). Some of these structures are visible in Google Earth images, and are the most abundant in the

periphery of the drilled area, that seems to be roughly coincident with the extent of the intrusion(s). The

mineralised structures evidenced relatively shallow emplacement of veining and mineralisation in orthogonal

brittle structures.

Figure B3: Left – 155°/75° old working to the northeast of the drilled area; Right – Roughly east-west striking old working to the northwest of the drilled area



Figure B4: Float of silicified wall-rock with quartz-vein material next to old workings

The collars of the 10 holes drilled by Tesoro in 2017 were visited and survey with handheld GPS (see Google

Earth image above and appended pictures). Collars are properly identified and preserved with cemented

bases and PVC casing. Old collars of drillholes from CDE are partially preserved with PVC casing.

Figure B5: Collars of drillholes ZDDH0003 and ZDDH0004

Drillhole core was visited at the storage facility in Copiapó. The core is preserved in enclosed wooden boxes

that are appropriate for desert weather. Boxes are marked with hole ID, box number and contained from-to

intercepts. The boxes are stored in metal racks covered with plastic-shading for sun protection. The security

of the core shed is non-existent at the moment. However, Sergio Uribe reports that Tesoro is about to secure

an office with proper storage at Caldera and the core will be moved there shortly. Core boxes are missing

sample number labels and from-to intercept for each assay. Core is properly marked with bottom of core

lines from oriented core measurements and downhole direction.



Figure B6: Selected core of Au-mineralised intercepts of drillholes ZDDH0001, ZDDH0004, ZDDH0005 and ZDDH0010

Note: Some of these intercepts are shown in the figure below taken from Tesoro corporate presentation of March 2018.

Figure B7: El Zorro-Coqutas drill section looking west

The highest gold grade intercept shown in the figure above are at or close to plagioclase micro-porphyritic

intrusions crosscutting hornfels, identical to the lithologies observed in outcrop. The mineralisation extends

to the hornfels but reaches its highest in intrusion intercepts. It is possible that the wall rock also includes

fined grained volcaniclastic rocks, but these were not confirmed and were not observed in outcrop.

Fine grained magmatic hornblende in the plagioclase-rich micro-porphyritic intrusion appears to be altered

to hydrothermal biotite (proxy for K-silicate alteration). Relatively massive milky quartz veins are sometimes

observed close to the upper contact of the intrusion with the wall rock. These quartz veins are commonly

0.5–2.0 cm in apparent thickness; however, in ZDDH0010 the quartz veins reach ~50 cm. Thin pyrite-rich

veins (commonly 0.1 cm) that sometimes have sericite±chlorite±pyrite±quartz halos crosscut the quartz

veins, the intrusion and the hornfels wall rock. These pyrite veins are the most abundant at the highest gold

grade intercepts, which suggest that the pyrite veins carry the gold. The best example is ZDDH0010 from

~82 m to ~102 m (at 4.7–4.9 g/t Au, reported by Tesoro), which is contained within the extent of the

plagioclase-rich micro-porphyritic intrusion (~83 m to ~111.8 m) and has abundant pyrite veins. However,



other intercepts with Au ~1–2 g/ton are pyrite-poor and there is no direct link between sulphides and

mineralisation.

The pyrite rich veins are reminiscent of “D”-type veins with sericitic halos described for porphyry copper

deposits elsewhere. These veins typically post-date the Cu-mineralisation and K-silicate alteration in

porphyry copper deposits and tend to be more sensitive to pre-existing structures at relatively shallow

emplacement depth. This may have been the case for the two sets of mined structures observed in outcrop.

The alteration assemblage in the mineralised intercepts is also reminiscent of Intermediate Sulphidation gold

deposits; however, veins at El Zorro do not appear to be rich in base metals. These characteristics, and the

intimate association of the plagioclase-rich micro-porphyrytic intrusion with the highest gold grades, also fit

the description of intrusion related gold deposit.

Veins and contacts have mostly steep angles to core that could be reconstructed to sub-vertical dips.

However, shallowly dipping veins are also present. Measurements of veins and contacts in oriented core

intercepts need to be studied to reconstruct the orientation and dip of the ore zones and properly connect

intrusion and mineralisation intercepts between different drillholes and construct cross-sections.

Figure B8: ZDDH0001, 30 m – hydrothermal biotite after magmatic hornblende in plagioclase-rich micro-porphyritic intrusion

Figure B9: ZRDDH0010, 87 m

Milky quartz vein in upper contact of microporphyritic intrusion. Brownish colour in the intrusion is likely

hydrothermal biotite after hornblende, note that pyrite±quartz±sericite±chlorite 0.1–0.3 cm thick veinlets

crosscut the earlier milky quartz vein and the intrusion. The pyrite veins have alteration halos that

transformed hydrothermal biotite in the micro-porphyritic intrusion to sericite-chlorite.




Plagioclase-rich micro-porphyritic intrusion with hydrothermal biotite after magmatic hornblende is crosscut

by 0.1 cm thick pyrite±quartz veinlets with ~1 cm sericite±quartz±pyrite halos that are reminiscent of “D”-

type halos in porphyry copper deposits. These veinlets are the most abundant where the gold intercepts are

the highest.




Oxidised “D” type pyrite-quartz vein with sericitie-quartz halo in weathered profile. Pyrite is mostly oxidised

to goethite-hematite. Note how hydrothermal biotite after magmatic hornblende is not stable within the

sericitic halo.

Figure B12: ZRDDH0004, 52.5 m – pyrite± veinlets with sericite-chlorite-quartz-pyrite halos decolour the biotite-rich hornfels next to an intrusion

La Espina (Esperanza)

La Espina is accessed by paved road from Santiago, the capital city of Chile (~45 km to the southwest). Access

to the power grid is within the El Tesoro tenements. Water for drilling and other future operation could likely

be obtained from the Maipo River immediately north of the property.

Figure B13: View of the Maipo River from La Espina



The La Espina property is a large package of land that includes several old workings that can be appreciated

in the hill sides. The terrain is very steep, transecting is difficult and soil scree is locally well developed. Only

the northern portion of the tenement package was visited, at and around the Librera mine (picture below).

A short visit was done to the abandoned smelter at the northern end of the property. The smelter accounts

for a rich artisanal mining history several decades ago.

Figure B14: Northern hill side of the southern portion of La Espina property; workings on the left side of the picture is the entrance to the Librera mine

The Google Earth image below shows the control stations in the visited area. ESP01 is the entrance to the

Librera mine. ESP04 and ESP05, ~1 km to the southeast of La Librera, are two of many workings that mined

a structure that could be de continuation of the Librera veins.

Figure B15: Yellow line has a length of ~1 km and a strike of ~158°

La Librera mine is constituted by a set of tunnels at different elevation that exploited at least two sub-parallel

mineralised structures or ~2.5 m thickness that strike ~155–160° and dip 75° towards the southwest. The

entrance of the mine connects to a minor structure, where less mining occurred. The second and principal

structure is located ~20 m to the southwest. Judging from the small workings that are present on the

property, other sub-parallel structures may exist. The main structure was mined using several tunnels



distributed in at least four levels connected by occasional winze. The mining reveals that the main structure

extends for at least 200 m in the horizontal, and likely ~100 m in vertical.

Figure B16: Left – Main entrance to La Librera mine; Right – Main mined structure strikes ~160º/75º

The mined structures consist of up to ~2.5 m thick milky to slightly translucent quartz veins with little

sulphide. Where the vein is the thickest, it appears to have been formed by an amalgamation of several

thinner quartz veins of 2–5 cm in thickness. The thinner veins extend into the wall rock with less apparent

abundance with increasing distance to the main veins. These veins where channel sampled in the roof of the

tunnels by El Tesoro, but assays were not available at the time of the visit. Channels are properly numbered

and marked with aerosol paint.

The quartz vein has evidence of open-space filling crystallisation. The most common texture is dog-teeth with

quartz pyramidal faces pointing towards a vein centre line. Other veins have pyramidal quartz growing in the

inner walls of void-like features. Most of the observed veins have sub-parallel strike and dip. However,

multiple directions are also present in densely veined areas, which gives a breccia appearance to the wall

rock. Where the wall rock was observed, it was composed of rhyolitic ignimbrite and volcaniclastic breccias

that are altered to chlorite-illite(?)-smectite near the veins. The mined gold may have not only been present

in the vein(s) but also in the proximal wall rock that has much less veining. The observed vein textures and

hydrothermal alteration are typical of low sulphidation gold epithermal deposits.

Besides La Librera mine, several workings on the southern hill side of the prospect where visited, however,

they were not possible to access. The rock fragments that were observed at their entrance as well as sub-

outcrops of quartz veins nearby, are composed of identical epithermal quartz than the one observed at La

Librera. Furthermore, the southern workings and veins have identical strike and dip to La Librera veins and

are aligned along strike. These suggest that the veins, or at least the structures where the veins were

emplaced, could have a horizontal continuity of more than 1 km along strike.



Figure B17: Swarm of quartz veins at La Librera mine (note the chlorite-smectite-rich wall rock)

Figure B18: Milky quartz with pyramidal faces growing into a void at La Librera



Figure B19: Several sets of milky quartz and amethyst with partially open-space centreline at La Librera

Figure B20: Several sets of quartz veins amalgamate and enclose fragments of wall rock at La Librera



Figure B21: Dog teeth texture in quartz milky to translucent quartz at southern workings (ESP05)

Figure B22: Entrance to southern working (ESP04) (note fragments of quartz material)



Figure B23: Thin and coarse ignimbritic banding in rhyolitic wall rock at ESP02, where the wall rock is not altered to chlorite-illite-smectite



Figure B24: Volcaniclastic breccia is locally found in between outcrops of ignimbrite (ESP02–ESP03)

Current Soil Sampling

Soil samplers were working in the property at the time of the visit. The sampling protocol consists of:

• Location of the station using handheld GPS.

• A shallow hole is made with a hand shovel to penetrate below the organic matter-rich horizon and scree.

Soils samples are taken from the C horizon.

• De-contamination of sieves with first shovel of soil.

• Sieving with 180-micron sieve.

• Samples of up to 1 kg of soil are packed in plastic bags with assay-number tickets stapled to the bag.

• Cleaning of the sieves with hand brush.

The sampling protocol is adequate; however, terrain is steep, soils are thin and there are areas with abundant

soil scree that complicate the sampling and reaching the C horizon.



Figure B25: Soil sampling at ESP03



Appendix 3: CDE Drillhole Collars, Survey and Assays

CDE Drillhole Collars

Hole ID WGS84 Northing WGS84 Easting WGS84 RL Maximum depth Hole type

TAR001 7035632 341449 559 130 RAB

TAR002 7035904.77 341584.96 625 150 RAB

TAR003 7035907.11 341587.59 625 130 RAB

TAR004 7035840.61 341553.9 609 130 RAB

TAR005 7035788.491 341530.002 609.111 130 RAB

TAR005A 7035787.715 341526.829 608.949 50 RAB

TAR006 7035729 341450 597.346 130 RAB

TAR007 7035594.43 341367.2171 584.041 130 RAB

TAR008 7035911 341638 603.022 130 RAB

TAR009 7035885.87 341695.61 610 205 RAB

TAR010 7035770 341589 582.985 130 RAB

TAR011 7035864.2 341592.86 600 130 RAB

TAR012 7035817.01 341598.54 590 130 RAB

TAR013 7036018 341614 644.628 130 RAB

TAR014 7036042.46 341622.96 646 130 RAB

TAR015 7036135.91 341702.8 635 130 RAB

TAR016 7035853 341496 580 130 RAB

TAR017 7035722 341547 565 87 RC

TAR018 7035868.06 341613.28 595 90 RC

TAR019 7035855.84 341634.76 590 87 RC

TAR020 7035970 341579 640.77 61 RC

TAR021 7035977 341599 641.566 60 RC

TAR022 7035962 341646 616.309 60 RC

TAR023 7036013 341591 649.054 60 RC

TAR024 7036015 341660 621.379 42 RC

TAR025 7035709.68 341597.887 583.507 140 RC

TAR026 7036057 341669 626.653 36 RC

TAR027 7035899.669 341689.983 609.706 115 RC

TAR028 7035996 341712 622.496 80 RC

TAR029 7035946 341702 613.78 89 RC

TAR030 7035752 341658 608.089 140 RC

TAR031 7035804 341670 604.673 132 RC

TAR032 7036008.35 341768.46 630 110 RC

TAR033 7036041 341721 650 50 RC

TAR034 7035662 341590 592.774 80 RC

TAR035 7035672 341543 572 110 RC

TAR036 7035623 341480 564 120 RC

TAR037 7035629 341531 582.348 150 RC

TAR038 7035848.76 341686.98 602 110 RC

TAR039 7035788.502 341528.154 609.036 45 RC

TAR040 7035767 341607 583.561 67 RC

TAR041 7035879 341657 600.717 150 RC

TAR042 7035885.357 341535.309 609.07 100 RC

TAR043 7035773 341588 582.925 80 RC

TAR044 7035740 341512 580 150 RC




TAR045 7035691 341437 575 100 RC

TAR046 7035679 341397 589.608 100 RC

TAR047 7035648.94 341392.4 582 120 RC

TAR048 7035806.92 341625.7 592 120 RC

TAR049 7035831 341649 597.13 150 RC

TAR050 7035776 341630 593.894 120 RC

TAR051 7035737 341603 593 142 RC

TAR052 7035684 341485 562 100 RC

TAR053 7035581 341468 558 200 RC

TAR054 7035584 341519 564 218 RC

TAR055 7035544 341509 555 231 RC

TAR057 7035760.56 341573.4801 595 95 RAB

TAR058 7035855.33 341592.7299 607 80 RAB

TAR059 7035942.48 341616.79 619 61 RAB

TAR060 7035959.73 341663.97 622 78 RAB

TAR061 7036045 341567 653 35 RAB

TAR062 7035996 341557 653 35 RAB

TDH001 7035905.97 341581.35 625 150 DDH

TDH002 7035897.81 341580.6001 625 160 DDH

TDH003 7035781.86 341526.53 609 130 DDH

TDH004 7036065.96 341624.38 644 140 DDH

TDH005 7035924.648 341671.637 604.479 130 DDH

TDH006 7035756.25 341611.81 584 80 DDH

CDE Downhole Surveys

Hole_Id Depth Dip Utm_Azimuth

TAR001 0 -60 13

TAR001 130 -60 13

TAR002 0 -90 0

TAR002 150 -90 0

TAR003 0 -60 13

TAR003 130 -60 13

TAR004 0 -60 13

TAR004 130 -60 13

TAR005 0 -60 13

TAR005 130 -60 13

TAR005A 0 -60 13

TAR005A 50 -60 13

TAR006 0 -60 11

TAR006 130 -60 11

TAR007 0 -60 13

TAR007 130 -60 13

TAR008 0 -60 283

TAR008 130 -60 283

TAR009 0 -90 0

TAR009 205 -90 0

TAR010 0 -60 13




TAR010 130 -60 13

TAR011 0 -60 13

TAR011 130 -60 13

TAR012 0 -60 13

TAR012 130 -60 13

TAR013 0 -60 210

TAR013 130 -60 210

TAR014 0 -60 30

TAR014 130 -60 30

TAR015 0 -60 30

TAR015 130 -60 30

TAR016 0 -60 13

TAR016 130 -60 13

TAR017 0 -60 13

TAR017 87 -60 13

TAR018 0 -60 13

TAR018 90 -60 13

TAR019 0 -60 13

TAR019 87 -60 13

TAR020 0 -60 13

TAR020 61 -60 13

TAR021 0 -60 13

TAR021 60 -60 13

TAR022 0 -60 13

TAR022 60 -60 13

TAR023 0 -60 13

TAR023 60 -60 13

TAR024 0 -60 13

TAR024 42 -60 13

TAR025 0 -60 13

TAR025 140 -60 13

TAR026 0 -60 13

TAR026 36 -60 13

TAR027 0 -60 13

TAR027 115 -60 13

TAR028 0 -60 13

TAR028 80 -60 13

TAR029 0 -60 13

TAR029 89 -60 13

TAR030 0 -60 13

TAR030 140 -60 13

TAR031 0 -60 13

TAR031 132 -60 13

TAR032 0 -60 13

TAR032 110 -60 13

TAR033 0 -60 13




TAR033 50 -60 13

TAR034 0 -60 13

TAR034 80 -60 13

TAR035 0 -60 13

TAR035 110 -60 13

TAR036 0 -60 13

TAR036 120 -60 13

TAR037 0 -60 13

TAR037 150 -60 13

TAR038 0 -60 13

TAR038 110 -60 13

TAR039 0 -60 13

TAR039 45 -60 13

TAR040 0 -60 13

TAR040 67 -60 13

TAR041 0 -60 13

TAR041 150 -60 13

TAR042 0 -60 13

TAR042 100 -60 13

TAR043 0 -60 13

TAR043 80 -60 13

TAR044 0 -60 13

TAR044 150 -60 13

TAR045 0 -60 13

TAR045 100 -60 13

TAR046 0 -60 13

TAR046 100 -60 13

TAR047 0 -60 13

TAR047 120 -60 13

TAR048 0 -60 13

TAR048 120 -60 13

TAR049 0 -60 13

TAR049 150 -60 13

TAR050 0 -60 13

TAR050 120 -60 13

TAR051 0 -60 13

TAR051 142 -60 13

TAR052 0 -60 13

TAR052 100 -60 13

TAR053 0 -60 13

TAR053 200 -60 13

TAR054 0 -60 13

TAR054 218 -60 13

TAR055 0 -60 13

TAR055 231 -60 13

TAR057 0 -65 12.5




TAR057 95 -65 12.5

TAR058 0 -65 12.5

TAR058 80 -65 12.5

TAR059 0 -65 12.5

TAR059 61 -65 12.5

TAR060 0 -65 12.5

TAR060 78 -65 12.5

TAR061 0 -65 12.5

TAR061 35 -65 12.5

TAR062 0 -90 0

TAR062 35 -90 0

TDH001 0 -90 0

TDH001 150 -90 0

TDH002 0 -55 192.5

TDH002 160 -55 192.5

TDH003 0 -60 12.5

TDH003 130 -60 12.5

TDH004 0 -54 192.5

TDH004 140 -54 192.5

TDH005 0 -55 191.5

TDH005 130 -55 191.5

TDH006 0 -55 14.5

TDH006 80 -55 14.5

CDE Drill Assays

Hole From (m)

Depth (m)

Interval (m)

Au (g/t)

Hole From (m)

Depth (m)

Interval (m)

Au (g/t)

TDH001 11 12 1 1.18 TAR005 24 25 1 0.27

TDH001 50 51 1 1.22 TAR005 25 26 1 0.42

TDH001 59 60 1 1.15 TAR005 26 27 1 1.24

TDH001 75 76 1 0.98 TAR005 27 28 1 1.42

TDH001 82 83 1 1.15 TAR005 28 29 1 0.56

TDH001 97 98 1 1.1 TAR005 29 30 1 0.2

TDH001 148 149 1 3.5 TAR005 30 31 1 0.35

TAR001 10 11 1 2.37 TAR005 31 32 1 0.67

TAR001 20 21 1 0.57 TAR005 32 33 1 0.55

TAR001 27 28 1 0.34 TAR005 33 34 1 1.02

TAR001 41 42 1 2.09 TAR005 34 35 1 0.15

TAR001 42 43 1 1.59 TAR005 35 36 1 0.15

TAR001 70 71 1 1.83 TAR005 36 37 1 0.38

TAR001 117 118 1 2.17 TAR005 38 39 1 1.02

TAR001 119 120 1 0.23 TAR005 42 43 1 1.46

TAR001 125 126 1 0.02 TAR005 55 56 1 0.31

TAR002 5 6 1 2.17 TAR005 88 89 1 0.35

TAR002 18 19 1 0.03 TAR005 94 95 1 0.31

TAR002 19 20 1 0.15 TAR005 118 119 1 1.15

TAR002 20 21 1 0.08 TAR005A 0 1 1 0.48



Hole From (m)

Depth (m)

Interval (m)

Au (g/t)

Hole From (m)

Depth (m)

Interval (m)

Au (g/t)

TAR002 21 22 1 0.59 TAR005A 13 14 1 0.88

TAR002 22 23 1 0.03 TAR005A 38 39 1 0.48

TAR002 23 24 1 0.03 TAR007 25 26 1 0.86

TAR002 45 46 1 0.56 TAR007 70 71 1 1.01

TAR002 58 59 1 2.17 TAR007 99 100 1 0.6

TAR002 62 63 1 1.07 TAR007 121 122 1 0.35

TAR002 76 77 1 0.79 TAR008 0 1 1 0.11

TAR002 82 83 1 0.78 TAR008 26 27 1 0.4

TAR002 110 111 1 1.8 TAR008 31 32 1 1.19

TAR002 146 147 1 1.41 TAR008 49 50 1 0.41

TAR003 14 15 1 1.81 TAR008 60 61 1 0.24

TAR003 22 23 1 0.01 TAR008 63 64 1 0.4

TAR003 23 24 1 0.02 TAR008 67 68 1 0.27

TAR003 24 25 1 0.03 TAR008 94 95 1 0.12

TAR003 25 26 1 0.03 TAR008 127 128 1 0.13

TAR003 26 27 1 0.07 TAR009 2 3 1 0.16

TAR003 29 30 1 1 TAR009 32 33 1 0.19

TAR003 99 100 1 1.49 TAR009 161 162 1 0.29

TAR004 18 19 1 1.12 TAR010 0 1 1 0.21

TAR004 26 27 1 0.04 TAR010 47 48 1 9.26

TAR004 27 28 1 0.06 TAR010 105 106 1 0.34

TAR004 28 29 1 0.03 TAR010 106 107 1 6.44

TAR004 29 30 1 0.47 TAR010 122 123 1 0.47

TAR004 30 31 1 0.36 TAR011 46 47 1 0.31

TAR004 31 32 1 0.11 TAR011 54 55 1 1.33

TAR004 32 33 1 0.05 TAR011 61 62 1 0.65

TAR005 16 17 1 2.4 TAR011 75 76 1 0.5

TAR005 23 24 1 0.14 TAR012 10 11 1 1.17

TAR012 19 20 1 1.11 TAR058 65 66 1 0.13

TAR012 29 30 1 1.34 TAR058 66 67 1 1.82

TAR012 33 34 1 1.62 TAR058 67 68 1 1.55

TAR012 50 51 1 1.22 TAR058 68 69 1 0.03

TAR012 73 74 1 1.93 TAR058 69 70 1 0.09

TAR013 2 3 1 1.13 TAR058 70 71 1 0.17

TAR013 5 6 1 1.24 TAR058 71 72 1 0.12

TAR013 23 24 1 1.28 TAR058 72 73 1 0.33

TAR013 60 61 1 1.06 TAR058 73 74 1 2.37

TAR014 7 8 1 1.36 TAR058 74 75 1 0.2

TAR014 13 14 1 1.03 TAR058 75 76 1 0.28

TAR014 20 21 1 1.41 TAR058 76 77 1 0.07

TAR014 25 26 1 1.45 TAR058 77 78 1 0.02

TAR057 34 35 1 1.21 TAR058 78 79 1 0.04

TAR057 64 65 1 1.51 TAR058 79 80 1 0.13

TAR058 30 31 1 0.09 TAR059 1 2 1 4.35

TAR058 31 32 1 0.07 TAR059 2 3 1 3.05

TAR058 32 33 1 0.92 TAR059 3 4 1 0.96

TAR058 33 34 1 0.94 TAR059 4 5 1 1.27

TAR058 34 35 1 0.65 TAR059 5 6 1 1.78

TAR058 35 36 1 0.95 TAR059 6 7 1 3.41



Hole From (m)

Depth (m)

Interval (m)

Au (g/t)

Hole From (m)

Depth (m)

Interval (m)

Au (g/t)

TAR058 36 37 1 1 TAR059 7 8 1 1.38

TAR058 37 38 1 2.23 TAR059 8 9 1 0.49

TAR058 38 39 1 1.22 TAR059 9 10 1 0.69

TAR058 39 40 1 0.97 TAR059 10 11 1 2.02

TAR058 40 41 1 1.56 TAR059 11 12 1 1.49

TAR058 41 42 1 1.15 TAR059 12 13 1 0.69

TAR058 42 43 1 0.96 TAR059 13 14 1 0.85

TAR058 43 44 1 2.69 TAR059 14 15 1 0.59

TAR058 44 45 1 2.59 TAR059 15 16 1 0.19

TAR058 45 46 1 6.19 TAR059 16 17 1 0.53

TAR058 46 47 1 3.07 TAR059 17 18 1 0.17

TAR058 47 48 1 4.34 TAR059 18 19 1 0.12

TAR058 48 49 1 1.62 TAR059 19 20 1 0.12

TAR058 49 50 1 3.56 TAR059 20 21 1 0.05

TAR058 50 51 1 4.95 TAR059 21 22 1 0.53

TAR058 51 52 1 4.36 TAR059 22 23 1 0.05

TAR058 52 53 1 5.23 TAR059 23 24 1 2.41

TAR058 53 54 1 5.69 TAR059 24 25 1 0.25

TAR058 54 55 1 4.84 TAR059 25 26 1 0.07

TAR058 55 56 1 1.88 TAR059 26 27 1 0.02

TAR058 56 57 1 1.3 TAR059 27 28 1 0.08

TAR058 57 58 1 2.54 TAR059 28 29 1 0.02

TAR058 58 59 1 0.26 TAR059 29 30 1 0.07

TAR058 59 60 1 0.72 TAR059 30 31 1 0.78

TAR058 60 61 1 1.84 TAR059 31 32 1 0.24

TAR058 61 62 1 0.44 TAR059 32 33 1 2.02

TAR058 62 63 1 0.24 TAR059 33 34 1 0.4

TAR058 63 64 1 0.15 TAR059 34 35 1 0.23

TAR058 64 65 1 0.39 TAR059 35 36 1 0.41

TAR059 36 37 1 0.71 TAR060 26 27 1 0.01

TAR059 37 38 1 0.03 TAR060 27 28 1 0.01

TAR059 38 39 1 0.03 TAR060 28 29 1 0.01

TAR059 39 40 1 0.02 TAR060 29 30 1 0.01

TAR059 40 41 1 0.36 TAR060 30 31 1 0.02

TAR059 41 42 1 0.11 TAR060 31 32 1 0.02

TAR059 42 43 1 0.03 TAR060 32 33 1 0.01

TAR059 43 44 1 0.02 TAR060 33 34 1 0.01

TAR059 44 45 1 0.3 TAR060 34 35 1 0.01

TAR059 45 46 1 0.1 TAR060 35 36 1 0.01

TAR059 46 47 1 0.04 TAR060 36 37 1 0.02

TAR059 47 48 1 0.02 TAR060 37 38 1 0.01

TAR059 48 49 1 0.03 TAR060 38 39 1 0.02

TAR059 49 50 1 0.03 TAR060 39 40 1 0.02

TAR059 50 51 1 0.03 TAR060 40 41 1 0.02

TAR059 51 52 1 0.07 TAR060 41 42 1 0.02

TAR059 52 53 1 0.03 TAR060 42 43 1 0.31

TAR059 53 54 1 0.02 TAR060 43 44 1 3.7

TAR059 54 55 1 0.05 TAR060 44 45 1 0.04

TAR059 55 56 1 0.06 TAR060 45 46 1 0.02



Hole From (m)

Depth (m)

Interval (m)

Au (g/t)

Hole From (m)

Depth (m)

Interval (m)

Au (g/t)

TAR059 56 57 1 0.03 TAR060 46 47 1 0.02

TAR059 57 58 1 0.12 TAR060 47 48 1 0.02

TAR059 58 59 1 0.09 TAR060 48 49 1 0.04

TAR059 59 60 1 0.11 TAR060 49 50 1 0.03

TAR059 60 61 1 0.03 TAR060 50 51 1 0.03

TAR060 1 2 1 0.12 TAR060 51 52 1 0.02

TAR060 2 3 1 0.85 TAR060 52 53 1 0.03

TAR060 3 4 1 0.07 TAR060 53 54 1 0.03

TAR060 4 5 1 0.06 TAR060 54 55 1 0.03

TAR060 5 6 1 0.09 TAR060 55 56 1 0.01

TAR060 6 7 1 0.02 TAR060 56 57 1 0.02

TAR060 7 8 1 0.01 TAR060 57 58 1 0.01

TAR060 8 9 1 0.01 TAR060 58 59 1 0.01

TAR060 9 10 1 0.02 TAR060 59 60 1 0.03

TAR060 10 11 1 0.01 TAR060 60 61 1 0.02

TAR060 11 12 1 0.04 TAR060 61 62 1 0.01

TAR060 12 13 1 0.02 TAR060 62 63 1 0.08

TAR060 13 14 1 0.04 TAR060 63 64 1 0.01

TAR060 14 15 1 0.04 TAR060 64 65 1 0.02

TAR060 15 16 1 0.14 TAR060 65 66 1 0.02

TAR060 16 17 1 0.03 TAR060 66 67 1 0.02

TAR060 17 18 1 0.03 TAR060 67 68 1 0.05

TAR060 18 19 1 0.02 TAR060 68 69 1 0.03

TAR060 19 20 1 0.02 TAR060 69 70 1 0.03

TAR060 20 21 1 0.01 TAR060 70 71 1 0.02

TAR060 21 22 1 0.01 TAR060 71 72 1 0.02

TAR060 22 23 1 0.01 TAR060 72 73 1 0.02

TAR060 23 24 1 0.01 TAR060 73 74 1 0.02

TAR060 24 25 1 0.01 TAR060 74 75 1 0.02

TAR060 25 26 1 0.01 TAR060 75 76 1 0.02

TAR060 76 77 1 0.04 TAR062 14 15 1 0.05

TAR060 77 78 1 0.01 TAR062 15 16 1 0.03

TAR061 1 2 1 0.04 TAR062 16 17 1 0.05

TAR061 2 3 1 0.06 TAR062 17 18 1 0.03

TAR061 3 4 1 0.19 TAR062 18 19 1 0.03

TAR061 4 5 1 0.51 TAR062 19 20 1 0.03

TAR061 5 6 1 0.34 TAR062 20 21 1 0.03

TAR061 6 7 1 0.13 TAR062 21 22 1 0.03

TAR061 7 8 1 0.92 TAR062 22 23 1 0.03

TAR061 8 9 1 0.95 TAR062 23 24 1 0.04

TAR061 9 10 1 0.17 TAR062 24 25 1 0.02

TAR061 10 11 1 0.14 TAR062 25 26 1 0.03

TAR061 11 12 1 0.11 TAR062 26 27 1 0.18

TAR061 12 13 1 0.04 TAR062 27 28 1 0.03

TAR061 13 14 1 3.99 TAR062 28 29 1 0.04

TAR061 14 15 1 0.23 TAR062 29 30 1 0.05

TAR061 15 16 1 0.27 TAR062 30 31 1 0.05

TAR061 16 17 1 0.04 TAR062 31 32 1 0.39

TAR061 17 18 1 0.06 TAR062 32 33 1 0.14



Hole From (m)

Depth (m)

Interval (m)

Au (g/t)

Hole From (m)

Depth (m)

Interval (m)

Au (g/t)

TAR061 18 19 1 0.07 TAR062 33 34 1 0.04

TAR061 19 20 1 0.18 TAR062 34 35 1 0.04

TAR061 20 21 1 0.03 TAR001 116 123 7 2.02

TAR061 21 22 1 0.03 TAR001 0 15 15 1.27

TAR061 22 23 1 0.03 TAR001 41 43 2 1.84

TAR061 23 24 1 0.03 TAR001 56 65 9 0.34

TAR061 24 25 1 0.02 TAR002 0 11 11 0.96

TAR061 25 26 1 0.03 TAR002 127 129 2 2.14

TAR061 26 27 1 0.03 TAR002 143 147 4 1.37

TAR061 27 28 1 0.01 TAR002 19 21 2 0.115

TAR061 28 29 1 0.01 TAR002 35 38 3 1.09

TAR061 29 30 1 0.02 TAR002 53 72 19 0.44

TAR061 30 31 1 0.02 TAR002 88 93 5 0.51

TAR061 31 32 1 0.02 TAR003 93 100 7 0.54

TAR061 32 33 1 0.02 TAR003 0 22 22 0.75

TAR061 33 34 1 0.02 TAR003 29 32 3 0.54

TAR061 34 35 1 0.02 TAR004 128 130 2 0.35

TAR062 0 1 1 2.35 TAR004 9 23 14 0.45

TAR062 1 2 1 0.6 TAR004 29 31 2 0.42

TAR062 2 3 1 0.18 TAR004 35 39 4 0.46

TAR062 3 4 1 0.31 TAR004 94 96 2 0.48

TAR062 4 5 1 0.09 TAR005 0 45 45 0.73

TAR062 5 6 1 0.15 TAR007 109 111 2 0.42

TAR062 6 7 1 0.25 TAR007 25 38 13 0.86

TAR062 7 8 1 0.06 TAR007 68 72 4 0.41

TAR062 8 9 1 1.6 TAR007 76 79 3 0.18

TAR062 9 10 1 0.11 TAR008 17 19 2 1

TAR062 10 11 1 0.05 TAR008 26 50 24 0.9

TAR062 11 12 1 0.03 TAR008 68 71 3 0.5

TAR062 12 13 1 0.09 TAR010 105 107 2 3.39

TAR062 13 14 1 0.06 TAR010 17 23 6 0.36

TAR010 39 53 14 1.67 TAR057 44 46 2 3.84

TAR010 56 61 5 0.56 TAR057 93 95 2 4.32

TAR010 62 69 7 0.33 TAR058 32 68 36 2.08

TAR010 79 81 2 1.05 TAR058 70 76 6 0.578

TAR011 24 27 3 0.36 TAR059 1 17 16 1.48

TAR011 53 56 3 0.35 TAR059 17 20 3 0.136

TAR011 61 68 7 1.18 TAR059 21 24 3 1

TAR012 33 40 7 1.62 TAR059 30 33 3 1.01

TAR012 50 56 6 1.12 TAR059 35 37 2 0.56

TAR012 70 79 9 0.64 TAR059 57 60 3 0.106

TAR013 17 35 18 1.28 TAR005A 0 45 45 0.57

TAR013 46 48 2 1.62 TAR060 42 44 2 2.01

TAR013 83 85 2 2.84 TAR061 9 12 3 0.14

TAR013 2 9 7 0.92 TAR061 13 14 1 4.57

TAR014 116 121 5 1.61 TAR061 4 9 5 0.57

TAR014 0 33 33 0.97 TAR062 0 2 2 1.48

TAR017 48 87 39 1.32 TAR062 4 6 2 0.12

TAR018 76 87 11 0.57 TAR062 8 9 1 2.02



Hole From (m)

Depth (m)

Interval (m)

Au (g/t)

Hole From (m)

Depth (m)

Interval (m)

Au (g/t)

TAR019 8 87 79 20.18 TDH001 113 115 2 3.37

TAR020 45 61 16 1.11 TDH001 138 142 4 4.88

TAR021 25 42 17 1.29 TDH002 10 11 1 1.34

TAR022 4 39 35 0.82 TDH002 109 111 2 1.42

TAR023 32 42 10 0.86 TDH002 11 12 1 1.31

TAR024 17 21 4 1.48 TDH002 9 14 5 1.35

TAR025 55 103 48 0.59 TDH002 23 24 1 1.42

TAR027 100 103 3 1.05 TDH002 0 3 3 2.07

TAR032 84 101 17 0.61 TDH002 49 51 2 1.08

TAR033 38 41 3 0.36 TDH002 61 62 1 1.01

TAR034 67 70 3 0.55 TDH002 67 68 1 0.94

TAR035 5 107 102 0.86 TDH002 69 71 2 1.12

TAR036 24 117 93 6.72 TDH002 94 95 1 1.24

TAR037 53 141 88 1.35 TDH003 15 16 1 1.21

TAR038 43 109 66 0.9 TDH003 23 24 1 0.02

TAR039 7 43 36 1.68 TDH003 24 25 1 0.02

TAR040 15 61 46 6.44 TDH003 25 26 1 0.01

TAR041 104 145 41 0.47 TDH003 26 27 1 0.01

TAR042 8 85 77 0.74 TDH003 27 28 1 0.03

TAR043 12 39 27 0.52 TDH003 28 29 1 0.02

TAR044 48 87 39 0.59 TDH003 40 42 2 1.24

TAR045 0 79 79 1.04 TDH003 53 54 1 1.64

TAR046 41 46 5 0.57 TDH003 57 58 1 0.42

TAR047 62 111 49 1.57 TDH004 99 100 1 7.1

TAR048 13 28 15 1.05 TDH004 20 21 1 5.44

TAR049 34 84 50 1.26 TDH004 19 27 8 1.41

TAR050 7 75 68 1.06 TDH004 0 3 3 1.06

TAR051 6 116 110 1.4 TDH004 30 35 5 1.71

TAR052 8 10 2 5.02 TDH004 38 41 3 1.45

TAR053 37 182 145 1.32 TDH004 82 83 1 3.18

TAR055 187 207 20 0.46 TDH004 86 87 1 2.02

TAR057 17 19 2 0.82 TDH004 90 91 1 1.68

TDH005 101 103 2 1.01

TDH005 107 108 1 0.96

TDH005 116 117 1 1.32

TDH005 118 119 1 1.18

TDH005 53 54 1 1.2

TDH005 67 68 1 1.24

TDH005 76 77 1 0.94

TDH005 79 80 1 0.62

TDH005 83 84 1 0.74

TDH005 93 94 1 9.92

TDH006 9 22 13 1.2

TDH006 25 26 1 1.38

TDH006 31 39 8 2.24

TDH006 49 60 11 3.6

TDH006 67 68 1 1.88

TDH006 71 78 7 1.45



CDE Drillhole Surveys

Hole ID Depth Dip UTM

azimuth Hole ID Depth Dip

UTM azimuth


azimuth

RC002 0 -60 13 TAR019 87 -60 13 TAR043 80 -60 13

RC004 0 -60 13 TAR020 0 -60 13 TAR044 0 -60 13

RC009 0 -60 13 TAR020 61 -60 13 TAR044 150 -60 13

RC013 0 -60 13 TAR021 0 -60 13 TAR045 0 -60 13

RC016 0 -60 13 TAR021 60 -60 13 TAR045 100 -60 13

RC019 0 -60 13 TAR022 0 -60 13 TAR046 0 -60 13

RC030 0 -60 13 TAR022 60 -60 13 TAR046 100 -60 13

RC031 0 -60 13 TAR023 0 -60 13 TAR047 0 -60 13

RC047 0 -60 13 TAR023 60 -60 13 TAR047 120 -60 13

TAR001 0 -60 13 TAR024 0 -60 13 TAR048 0 -60 13

TAR001 130 -60 13 TAR024 42 -60 13 TAR048 120 -60 13

TAR002 0 -90 0 TAR025 0 -60 13 TAR049 0 -60 13

TAR002 150 -90 0 TAR025 140 -60 13 TAR049 150 -60 13

TAR003 0 -60 13 TAR026 0 -60 13 TAR050 0 -60 13

TAR003 130 -60 13 TAR026 36 -60 13 TAR050 120 -60 13

TAR004 0 -60 13 TAR027 0 -60 13 TAR051 0 -60 13

TAR004 130 -60 13 TAR027 115 -60 13 TAR051 142 -60 13

TAR005 0 -60 13 TAR028 0 -60 13 TAR052 0 -60 13

TAR005 130 -60 13 TAR028 80 -60 13 TAR052 100 -60 13

TAR005A 0 -60 13 TAR029 0 -60 13 TAR053 0 -60 13

TAR005A 50 -60 13 TAR029 89 -60 13 TAR053 200 -60 13

TAR006 0 -60 11 TAR030 0 -60 13 TAR054 0 -60 13

TAR006 130 -60 11 TAR030 140 -60 13 TAR054 218 -60 13

TAR007 0 -60 13 TAR031 0 -60 13 TAR055 0 -60 13

TAR007 130 -60 13 TAR031 132 -60 13 TAR055 231 -60 13

TAR008 0 -60 283 TAR032 0 -60 13 TAR057 0 -65 12.5

TAR008 130 -60 283 TAR032 110 -60 13 TAR057 95 -65 12.5

TAR009 0 -90 0 TAR033 0 -60 13 TAR058 0 -65 12.5

TAR009 205 -90 0 TAR033 50 -60 13 TAR058 80 -65 12.5

TAR010 0 -60 13 TAR034 0 -60 13 TAR059 0 -65 12.5

TAR010 130 -60 13 TAR034 80 -60 13 TAR059 61 -65 12.5

TAR011 0 -60 13 TAR035 0 -60 13 TAR060 0 -65 12.5

TAR011 130 -60 13 TAR035 110 -60 13 TAR060 78 -65 12.5

TAR012 0 -60 13 TAR036 0 -60 13 TAR061 0 -65 12.5

TAR012 130 -60 13 TAR036 120 -60 13 TAR061 35 -65 12.5

TAR013 0 -60 210 TAR037 0 -60 13 TAR062 0 -90 0

TAR013 130 -60 210 TAR037 150 -60 13 TAR062 35 -90 0

TAR014 0 -60 30 TAR038 0 -60 13 TDH001 0 -90 0

TAR014 130 -60 30 TAR038 110 -60 13 TDH001 150 -90 0

TAR015 0 -60 30 TAR039 0 -60 13 TDH002 0 -55 193

TAR015 130 -60 30 TAR039 45 -60 13 TDH002 160 -55 193

TAR016 0 -60 13 TAR040 0 -60 13 TDH003 0 -60 13

TAR016 130 -60 13 TAR040 67 -60 13 TDH003 130 -60 13

TAR017 0 -60 13 TAR041 0 -60 13 TDH004 0 -54 193

TAR017 87 -60 13 TAR041 150 -60 13 TDH004 140 -54 193

TAR018 0 -60 13 TAR042 0 -60 13 TDH005 0 -55 192

TAR018 90 -60 13 TAR042 100 -60 13 TDH005 130 -55 192

TAR019 0 -60 13 TAR043 0 -60 13 TDH006 0 -55 15

TDH006 80 -55 15



Appendix 4: Tesoro Drillhole Collars, Survey and Assays

Tesoro Drillhole Collars from 2017-2018


ZDDH0001 7035786 341531 599 141.9 DDH

ZDDH0002 7035868 341554 607 89.4 DDH

ZDDH0003 7035860 341622 597 130.3 DDH

ZDDH0004 7035864 341624 597 118 DDH

ZDDH0005 7035815 341601 590 142 DDH

ZDDH0006 7035774 341583 580 254.3 DDH

ZDDH0007 7035584 341467 0 151.3 DDH

ZDDH0008 7035641 341389 587 120 DDH

ZDDH0009 7035686 341436 589 120 DDH

ZDDH0010 7035960 341625 628 177.7 DDH

ZDDH0011 7036419 341782 643 300.5 DDH

ZDDH0012 7036369 341814 658 191.1 DDH

ZDDH0013 7036245 341775 635 246.05 DDH

ZDDH0014 7036297 341811 639 300.4 DDH

ZDDH0015 7036239 341808 631 300 DDH

ZDDH0016 7036293 341841 632 302.5 DDH

Tesoro Down Hole Surveys from 2017-2018

Hole_Id Depth (M) Dip Utm_Azimuth Instrument

ZDDH0001 0 -59.26 12.5 Reflex

ZDDH0001 6 -59.31 12.55 Reflex

ZDDH0001 12 -59.42 12.65 Reflex

ZDDH0001 18 -59.47 12.7 Reflex

ZDDH0001 24 -59.41 12.85 Reflex

ZDDH0001 30 -59.31 13.15 Reflex

ZDDH0001 36 -59.25 13.3 Reflex

ZDDH0001 42 -59.18 13.7 Reflex

ZDDH0001 48 -59.03 14.48 Reflex

ZDDH0001 54 -58.95 14.87 Reflex

ZDDH0001 60 -58.86 15.11 Reflex

ZDDH0001 66 -58.67 15.59 Reflex

ZDDH0001 72 -58.57 15.83 Reflex

ZDDH0001 78 -58.46 16.14 Reflex

ZDDH0001 84 -58.25 16.77 Reflex

ZDDH0001 90 -58.14 17.08 Reflex

ZDDH0001 96 -57.99 17.27 Reflex

ZDDH0001 102 -57.69 17.65 Reflex

ZDDH0001 108 -57.55 17.84 Reflex




ZDDH0001 114 -57.39 18.15 Reflex

ZDDH0001 120 -57.07 18.77 Reflex

ZDDH0001 126 -56.92 19.08 Reflex

ZDDH0001 132 -56.71 19.27 Reflex

ZDDH0001 138 -56.51 19.61 Reflex

ZDDH0001 141.9 -56.36 19.87 Reflex

ZDDH0002 0 -60.6 12.5 Reflex

ZDDH0002 6 -60.63 12.48 Reflex

ZDDH0002 12 -60.43 12.8 Reflex

ZDDH0002 18 -60.36 12.97 Reflex

ZDDH0002 24 -60.48 13.24 Reflex

ZDDH0002 30 -60.4 13.4 Reflex

ZDDH0002 36 -60.18 13.47 Reflex

ZDDH0002 42 -60.03 13.63 Reflex

ZDDH0002 48 -59.84 13.85 Reflex

ZDDH0002 54 -59.66 14.06 Reflex

ZDDH0002 60 -59.51 14.46 Reflex

ZDDH0002 66 -59.4 14.59 Reflex

ZDDH0002 72 -59.31 14.95 Reflex

ZDDH0002 78 -59.11 15.25 Reflex

ZDDH0002 84 -58.98 15.45 Reflex

ZDDH0002 89.4 -58.87 15.57 Reflex

ZDDH0003 0 -60.1 320.59 Reflex

ZDDH0003 10 -60.14 320.4 Reflex

ZDDH0003 20 -60.18 320.21 Reflex

ZDDH0003 30 -60.17 320.16 Reflex

ZDDH0003 40 -60.12 320.26 Reflex

ZDDH0003 50 -60.07 320.36 Reflex

ZDDH0003 60 -60.06 320.3 Reflex

ZDDH0003 70 -60.05 320.23 Reflex

ZDDH0003 80 -60.05 320.02 Reflex

ZDDH0003 90 -60.05 319.65 Reflex

ZDDH0003 100 -60.05 319.29 Reflex

ZDDH0004 0 -61.6 12 Gyro

ZDDH0004 10 -62.18 11.86 Gyro

ZDDH0004 20 -62.06 11.89 Gyro

ZDDH0004 30 -61.96 11.86 Gyro

ZDDH0004 40 -61.7 12.12 Gyro

ZDDH0004 50 -61.51 12.55 Gyro

ZDDH0004 60 -61.52 13.02 Gyro

ZDDH0004 70 -61.51 13.44 Gyro

ZDDH0004 80 -61.45 13.67 Gyro

ZDDH0004 90 -61.34 13.84 Gyro




ZDDH0004 100 -61.22 14.41 Gyro

ZDDH0004 110 -61 14.36 Gyro

ZDDH0005 0 -59.02 12.14 Gyro

ZDDH0005 10 -59.35 12.2 Gyro

ZDDH0005 20 -59.68 12.27 Gyro

ZDDH0005 30 -59.84 12.64 Gyro

ZDDH0005 40 -59.85 13.31 Gyro

ZDDH0005 50 -59.86 13.98 Gyro

ZDDH0005 60 -60.13 13.74 Gyro

ZDDH0005 70 -60.4 13.49 Gyro

ZDDH0005 80 -60.48 13.29 Gyro

ZDDH0005 90 -60.37 13.13 Gyro

ZDDH0005 100 -60.27 12.97 Gyro

ZDDH0005 110 -60.39 11.72 Gyro

ZDDH0005 120 -60.5 10.47 Gyro

ZDDH0005 130 -60.61 11.45 Gyro

ZDDH0005 140 -60.72 12.68 Gyro

ZDDH0006 0 -59.39 7.46 Gyro

ZDDH0006 10 -59.35 7.45 Gyro

ZDDH0006 20 -59.32 7.44 Gyro

ZDDH0006 30 -59.33 7.84 Gyro

ZDDH0006 40 -59.38 8.65 Gyro

ZDDH0006 50 -59.44 9.46 Gyro

ZDDH0006 60 -59.31 9.36 Gyro

ZDDH0006 70 -59.18 9.26 Gyro

ZDDH0006 80 -59.04 9.45 Gyro

ZDDH0006 90 -58.89 9.92 Gyro

ZDDH0006 100 -58.74 10.39 Gyro

ZDDH0006 110 -58.74 10.71 Gyro

ZDDH0006 120 -58.75 11.04 Gyro

ZDDH0006 130 -58.72 11.26 Gyro

ZDDH0006 140 -58.65 11.39 Gyro

ZDDH0006 150 -58.59 11.52 Gyro

ZDDH0006 160 -58.53 11.96 Gyro

ZDDH0006 170 -58.47 12.4 Gyro

ZDDH0006 180 -58.41 12.54 Gyro

ZDDH0006 190 -58.36 12.38 Gyro

ZDDH0006 200 -58.31 12.22 Gyro

ZDDH0006 210 -58.4 12.13 Gyro

ZDDH0006 220 -58.49 12.04 Gyro

ZDDH0006 230 -58.51 11.87 Gyro

ZDDH0006 240 -58.46 11.64 Gyro

ZDDH0007 0 -59.91 21.96 Gyro




ZDDH0007 10 -60 21.88 Gyro

ZDDH0007 20 -60.09 21.81 Gyro

ZDDH0007 30 -60.1 21.9 Gyro

ZDDH0007 40 -60.03 22.17 Gyro

ZDDH0007 50 -59.97 22.44 Gyro

ZDDH0007 60 -60.03 22.16 Gyro

ZDDH0007 70 -60.09 21.88 Gyro

ZDDH0007 80 -60.02 21.87 Gyro

ZDDH0007 90 -59.82 22.12 Gyro

ZDDH0007 100 -59.62 22.38 Gyro

ZDDH0007 110 -59.32 22.32 Gyro

ZDDH0007 120 -59.03 22.26 Gyro

ZDDH0007 130 -58.83 22.25 Gyro

ZDDH0007 140 -58.72 22.28 Gyro

ZDDH0007 150 -58.62 22.31 Gyro

ZDDH0008 0 -58.97 20.84 Gyro

ZDDH0008 10 -58.88 21.22 Gyro

ZDDH0008 20 -58.79 21.6 Gyro

ZDDH0008 30 -58.71 22.03 Gyro

ZDDH0008 40 -58.64 22.5 Gyro

ZDDH0008 50 -58.58 22.98 Gyro

ZDDH0008 60 -58.61 23.72 Gyro

ZDDH0008 70 -58.64 24.45 Gyro

ZDDH0008 80 -58.58 24.89 Gyro

ZDDH0008 90 -58.43 25.04 Gyro

ZDDH0008 100 -58.28 25.19 Gyro

ZDDH0008 110 -58.19 25.49 Gyro

ZDDH0008 120 -58.1 25.78 Gyro

ZDDH0009 0 -60.12 20 Gyro

ZDDH0009 10 -59.68 20.22 Gyro

ZDDH0009 20 -59.56 20.42 Gyro

ZDDH0009 30 -59.24 20.87 Gyro

ZDDH0009 40 -59.06 21.53 Gyro

ZDDH0009 50 -58.85 22 Gyro

ZDDH0009 60 -58.8 22.08 Gyro

ZDDH0009 70 -58.84 22.61 Gyro

ZDDH0009 80 -58.95 22.9 Gyro

ZDDH0009 90 -59.07 23.17 Gyro

ZDDH0009 100 -58.81 23.48 Gyro

ZDDH0009 110 -59.73 23.56 Gyro

ZDDH0010 0 -63.23 12.5 Gyro

ZDDH0010 10 -63.11 12.89 Gyro

ZDDH0010 20 -62.82 13.31 Gyro




ZDDH0010 30 -62.74 13.52 Gyro

ZDDH0010 40 -62.89 13.49 Gyro

ZDDH0010 50 -63.06 13.64 Gyro

ZDDH0010 60 -63.19 14.13 Gyro

ZDDH0010 70 -63.33 14.5 Gyro

ZDDH0010 80 -63.44 14.57 Gyro

ZDDH0010 90 -63.52 14.57 Gyro

ZDDH0010 100 -63.61 14.75 Gyro

ZDDH0010 110 -63.7 15 Gyro

ZDDH0010 120 -63.88 15.14 Gyro

ZDDH0010 130 -63.98 15.47 Gyro

ZDDH0010 140 -64.05 15.64 Gyro

ZDDH0010 150 -64.22 15.47 Gyro

ZDDH0010 160 -64.19 15.31 Gyro

ZDDH0011 0 -58.94 129.78 Gyro

ZDDH0011 10 -59.29 129.37 Gyro

ZDDH0011 20 -59.32 129.18 Gyro

ZDDH0011 30 -59.34 129.5 Gyro

ZDDH0011 40 -59.27 129.7 Gyro

ZDDH0011 50 -59.31 130.09 Gyro

ZDDH0011 60 -59.44 130.42 Gyro

ZDDH0011 70 -59.43 130.65 Gyro

ZDDH0011 80 -59.53 130.8 Gyro

ZDDH0011 90 -59.61 131.19 Gyro

ZDDH0011 100 -59.65 131.72 Gyro

ZDDH0011 110 -59.64 131.81 Gyro

ZDDH0011 120 -59.75 132.13 Gyro

ZDDH0011 130 -59.83 132.53 Gyro

ZDDH0011 140 -59.93 132.98 Gyro

ZDDH0011 150 -59.95 133.36 Gyro

ZDDH0011 160 -60.06 133.65 Gyro

ZDDH0011 170 -60.12 133.93 Gyro

ZDDH0011 180 -60.18 134.24 Gyro

ZDDH0011 190 -60.17 134.28 Gyro

ZDDH0011 200 -60.25 134.65 Gyro

ZDDH0011 210 -60.29 134.91 Gyro

ZDDH0011 220 -60.32 135.39 Gyro

ZDDH0011 230 -60.39 135.82 Gyro

ZDDH0011 240 -60.44 136.2 Gyro

ZDDH0011 250 -60.56 136.39 Gyro

ZDDH0011 260 -60.59 136.53 Gyro

ZDDH0011 270 -60.68 136.84 Gyro

ZDDH0011 280 -60.74 137.04 Gyro




ZDDH0011 290 -60.7 137.25 Gyro

ZDDH0011 300 -60.78 137.4 Gyro

ZDDH0012 0 -59.01 12 Gyro

ZDDH0012 10 -59.02 12.14 Gyro

ZDDH0012 20 -59.03 12.12 Gyro

ZDDH0012 30 -59 12.27 Gyro

ZDDH0012 40 -58.78 12.38 Gyro

ZDDH0012 50 -58.68 12.53 Gyro

ZDDH0012 60 -58.62 12.65 Gyro

ZDDH0012 70 -58.79 12.45 Gyro

ZDDH0012 80 -58.88 12.63 Gyro

ZDDH0012 90 -58.99 12.71 Gyro

ZDDH0012 100 -58.68 12.74 Gyro

ZDDH0012 110 -58.53 12.98 Gyro

ZDDH0012 120 -58.3 13.11 Gyro

ZDDH0012 130 -58.44 13.17 Gyro

ZDDH0012 140 -58.38 13.12 Gyro

ZDDH0012 150 -58.5 13.19 Gyro

ZDDH0012 160 -58.58 13.34 Gyro

ZDDH0012 170 -58.64 13.72 Gyro

ZDDH0012 180 -58.6 13.99 Gyro

ZDDH0012 190 -58.55 14.15 Gyro

ZDDH0013 0 -59.29 12 Gyro

ZDDH0013 10 -59.64 12.19 Gyro

ZDDH0013 20 -59.52 12.22 Gyro

ZDDH0013 30 -59.27 12.4 Gyro

ZDDH0013 40 -59.02 12.07 Gyro

ZDDH0013 50 -58.85 12.22 Gyro

ZDDH0013 60 -58.48 12.21 Gyro

ZDDH0013 70 -58.22 12.34 Gyro

ZDDH0013 80 -57.92 12.52 Gyro

ZDDH0013 90 -57.62 12.44 Gyro

ZDDH0013 100 -57.25 12.23 Gyro

ZDDH0013 110 -56.94 12.33 Gyro

ZDDH0013 120 -56.66 12.45 Gyro

ZDDH0013 130 -56.4 12.49 Gyro

ZDDH0013 140 -56.14 12.56 Gyro

ZDDH0013 150 -55.84 12.33 Gyro

ZDDH0013 160 -55.44 12.24 Gyro

ZDDH0013 170 -55.08 12.44 Gyro

ZDDH0013 180 -54.79 12.52 Gyro

ZDDH0013 190 -54.66 12.84 Gyro

ZDDH0013 200 -54.49 12.95 Gyro




ZDDH0013 210 -54.21 13.39 Gyro

ZDDH0013 220 -53.96 13.68 Gyro

ZDDH0013 230 -53.85 13.93 Gyro

ZDDH0013 240 -53.71 14.02 Gyro

ZDDH0013 245 -53.57 14.12 Gyro

ZDDH0014 0 -59.84 10.47 Gyro

ZDDH0014 10 -59.99 10.55 Gyro

ZDDH0014 20 -59.81 10.63 Gyro

ZDDH0014 30 -59.6 10.83 Gyro

ZDDH0014 40 -59.52 10.87 Gyro

ZDDH0014 50 -59.45 10.91 Gyro

ZDDH0014 60 -59.38 10.79 Gyro

ZDDH0014 70 -59.3 10.68 Gyro

ZDDH0014 80 -59.43 10.63 Gyro

ZDDH0014 90 -59.4 10.55 Gyro

ZDDH0014 100 -59.49 10.49 Gyro

ZDDH0014 110 -59.57 10.4 Gyro

ZDDH0014 120 -59.44 10.32 Gyro

ZDDH0014 130 -59.36 10.26 Gyro

ZDDH0014 140 -59.29 10.2 Gyro

ZDDH0014 150 -59.21 10.11 Gyro

ZDDH0014 160 -59.15 10.15 Gyro

ZDDH0014 170 -59.02 10.21 Gyro

ZDDH0014 180 -58.96 10.35 Gyro

ZDDH0014 190 -58.87 10.46 Gyro

ZDDH0014 200 -58.74 10.55 Gyro

ZDDH0014 210 -58.48 10.63 Gyro

ZDDH0014 220 -58.14 10.72 Gyro

ZDDH0014 230 -58 10.82 Gyro

ZDDH0014 240 -57.77 10.99 Gyro

ZDDH0014 250 -57.6 11.17 Gyro

ZDDH0014 260 -57.45 11.32 Gyro

ZDDH0014 270 -57.4 11.4 Gyro

ZDDH0014 280 -57.34 11.59 Gyro

ZDDH0014 290 -57.04 11.77 Gyro

ZDDH0014 300 -56.88 11.89 Gyro

ZDDH0015 0 -59.42 150 Gyro

ZDDH0015 10 -58.82 148.62 Gyro

ZDDH0015 20 -58.69 149.45 Gyro

ZDDH0015 30 -58.28 149.52 Gyro

ZDDH0015 40 -57.91 149.77 Gyro

ZDDH0015 50 -57.65 149.85 Gyro

ZDDH0015 60 -57.32 150.06 Gyro




ZDDH0015 70 -57.02 150.41 Gyro

ZDDH0015 80 -56.71 150.78 Gyro

ZDDH0015 90 -56.43 151.04 Gyro

ZDDH0015 100 -55.97 151.14 Gyro

ZDDH0015 110 -55.66 151.1 Gyro

ZDDH0015 120 -55.34 151.29 Gyro

ZDDH0015 130 -54.99 151.4 Gyro

ZDDH0015 140 -54.74 151.83 Gyro

ZDDH0015 150 -54.43 152.03 Gyro

ZDDH0015 160 -54.02 152.15 Gyro

ZDDH0015 170 -53.7 152.24 Gyro

ZDDH0015 180 -53.31 152.39 Gyro

ZDDH0015 190 -52.94 152.48 Gyro

ZDDH0015 200 -52.55 152.51 Gyro

ZDDH0015 210 -52.25 152.66 Gyro

ZDDH0015 220 -51.81 152.81 Gyro

ZDDH0015 230 -51.48 152.96 Gyro

ZDDH0015 240 -51.09 153.16 Gyro

ZDDH0015 250 -50.69 153.24 Gyro

ZDDH0015 260 -50.3 153.31 Gyro

ZDDH0015 270 -49.92 153.46 Gyro

ZDDH0015 280 -49.77 153.5 Gyro

ZDDH0015 290 -49.56 153.54 Gyro

ZDDH0015 300 -49.4 153.54 Gyro

ZDDH0016 0 -58.29 11.52 Gyro

ZDDH0016 10 -58.21 12.09 Gyro

ZDDH0016 20 -58.12 12.41 Gyro

ZDDH0016 30 -57.38 12.55 Gyro

ZDDH0016 40 -57.26 12.53 Gyro

ZDDH0016 50 -57.24 12.47 Gyro

ZDDH0016 60 -57.29 12.41 Gyro

ZDDH0016 70 -57.38 12.39 Gyro

ZDDH0016 80 -57.46 12.24 Gyro

ZDDH0016 90 -57.56 12.08 Gyro

ZDDH0016 100 -57.63 11.84 Gyro

ZDDH0016 110 -57.64 11.72 Gyro

ZDDH0016 120 -57.67 11.59 Gyro

ZDDH0016 130 -57.81 11.54 Gyro

ZDDH0016 140 -57.86 11.48 Gyro

ZDDH0016 150 -57.92 11.57 Gyro

ZDDH0016 160 -57.92 11.78 Gyro

ZDDH0016 170 -57.97 11.89 Gyro

ZDDH0016 180 -58.01 12.14 Gyro




ZDDH0016 190 -58.04 12.26 Gyro

ZDDH0016 200 -58.16 12.36 Gyro

ZDDH0016 210 -58.23 12.46 Gyro

ZDDH0016 220 -58.26 12.5 Gyro

ZDDH0016 230 -58.23 12.55 Gyro

ZDDH0016 240 -58.2 12.63 Gyro

ZDDH0016 250 -58.24 12.69 Gyro

ZDDH0016 260 -58.29 12.76 Gyro

ZDDH0016 270 -58.37 12.81 Gyro

ZDDH0016 280 -58.46 12.87 Gyro

ZDDH0016 290 -58.55 12.96 Gyro

ZDDH0016 300 -58.6 13.01 Gyro

Tesoro Drillhole Assays from 2017-2018

Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0001 0 1 1 0.08

ZDDH0001 1 2 1 0.09

ZDDH0001 2 3 1 0.11

ZDDH0001 3 4 1 0.11

ZDDH0001 4 5 1 0.11

ZDDH0001 5 6 1 0.59

ZDDH0001 6 7 1 0.81

ZDDH0001 7 8 1 0.05

ZDDH0001 8 9 1 0.27

ZDDH0001 9 10 1 0.06

ZDDH0001 10 11 1 0.13

ZDDH0001 11 11.77 0.77 0.37

ZDDH0001 11.77 12 0.23 0.005

ZDDH0001 12 13 1 1.64

ZDDH0001 13 14 1 0.02

ZDDH0001 14 14.3 0.3 0.005

ZDDH0001 14.3 15 0.7 2.35

ZDDH0001 15 15.8 0.8 0.02

ZDDH0001 15.8 16.4 0.6 0.005

ZDDH0001 16.4 17.03 0.63 0.07

ZDDH0001 17.03 18 0.97 0.08

ZDDH0001 18 19 1 0.5

ZDDH0001 19 20 1 0.07

ZDDH0001 20 21 1 0.25

ZDDH0001 21 22 1 0.56

ZDDH0001 22 23 1 0.28

ZDDH0001 23 24 1 0.44

ZDDH0001 24 25 1 0.15

ZDDH0001 25 25.8 0.8 0.91

ZDDH0001 25.8 26.4 0.6 0.42

ZDDH0001 26.4 27 0.6 0.54

Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0001 27 28 1 0.09

ZDDH0001 28 28.7 0.7 0.1

ZDDH0001 28.7 29.3 0.6 0.63

ZDDH0001 29.3 29.6 0.3 1.06

ZDDH0001 29.6 30 0.4 0.74

ZDDH0001 30 31 1 0.19

ZDDH0001 31 32 1 0.04

ZDDH0001 32 32.5 0.5 0.03

ZDDH0001 32.5 33.04 0.54 0.06

ZDDH0001 33.04 33.64 0.6 0.01

ZDDH0001 33.64 34 0.36 7.2

ZDDH0001 34 35 1 0.32

ZDDH0001 35 36 1 0.47

ZDDH0001 36 37 1 0.35

ZDDH0001 37 38 1 0.04

ZDDH0001 38 39 1 1.44

ZDDH0001 39 39.6 0.6 0.05

ZDDH0001 39.6 40.35 0.75 0.04

ZDDH0001 40.35 41.25 0.9 0.01

ZDDH0001 41.25 42.1 0.85 0.005

ZDDH0001 42.1 43 0.9 0.005

ZDDH0001 43 43.6 0.6 0.2

ZDDH0001 43.6 44.3 0.7 0.02

ZDDH0001 44.3 45.1 0.8 1.45

ZDDH0001 45.1 46 0.9 0.38

ZDDH0001 46 47 1 0.04

ZDDH0001 47 48 1 0.14

ZDDH0001 48 49 1 2.07

ZDDH0001 49 50 1 0.25

ZDDH0001 50 50.8 0.8 0.71

ZDDH0001 50.8 51.3 0.5 0.28



Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0001 51.3 51.87 0.57 0.18

ZDDH0001 51.87 52.22 0.35 0.005

ZDDH0001 52.22 53 0.78 0.03

ZDDH0001 53 54 1 0.005

ZDDH0001 54 54.49 0.49 0.02

ZDDH0001 54.49 55 0.51 0.005

ZDDH0001 55 55.8 0.8 0.005

ZDDH0001 55.8 56.5 0.7 0.005

ZDDH0001 56.5 57.28 0.78 0.02

ZDDH0001 57.28 58 0.72 0.02

ZDDH0001 58 58.9 0.9 0.01

ZDDH0001 58.9 59.45 0.55 0.005

ZDDH0001 59.45 60.3 0.85 0.02

ZDDH0001 60.3 61.1 0.8 0.005

ZDDH0001 61.1 62 0.9 0.005

ZDDH0001 62 63 1 0.01

ZDDH0001 63 64 1 0.005

ZDDH0001 64 65 1 2.5

ZDDH0001 65 66 1 0.19

ZDDH0001 66 67 1 0.005

ZDDH0001 67 67.55 0.55 0.005

ZDDH0001 67.55 68.13 0.58 0.01

ZDDH0001 68.13 68.64 0.51 0.005

ZDDH0001 68.64 69.4 0.76 0.005

ZDDH0001 69.4 70.15 0.75 0.005

ZDDH0001 70.15 71 0.85 0.005

ZDDH0001 71 71.55 0.55 0.04

ZDDH0001 71.55 71.8 0.25 0.04

ZDDH0001 71.8 72.65 0.85 0.05

ZDDH0001 72.65 73.5 0.85 0.02

ZDDH0001 73.5 74.25 0.75 0.12

ZDDH0001 74.25 75 0.75 0.005

ZDDH0001 75 75.5 0.5 0.06

ZDDH0001 75.5 76 0.5 4.82

ZDDH0001 76 77 1 0.23

ZDDH0001 77 78 1 0.12

ZDDH0001 78 79 1 0.34

ZDDH0001 79 80 1 0.1

ZDDH0001 80 80.8 0.8 0.21

ZDDH0001 80.8 81.4 0.6 0.24

ZDDH0001 81.4 82 0.6 0.23

ZDDH0001 82 83 1 0.14

ZDDH0001 83 84 1 0.05

ZDDH0001 84 85 1 0.05

ZDDH0001 85 86 1 0.03

ZDDH0001 86 87 1 0.4

ZDDH0001 87 87.7 0.7 0.17

ZDDH0001 87.7 88.4 0.7 0.01

ZDDH0001 88.4 89.2 0.8 0.03

ZDDH0001 89.2 90 0.8 0.03

Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0001 90 91 1 0.08

ZDDH0001 91 92 1 0.15

ZDDH0001 92 93 1 0.08

ZDDH0001 93 94 1 0.03

ZDDH0001 94 95 1 0.04

ZDDH0001 95 96 1 0.02

ZDDH0001 96 96.8 0.8 0.14

ZDDH0001 96.8 97.5 0.7 0.39

ZDDH0001 97.5 98 0.5 0.7

ZDDH0001 98 99 1 0.06

ZDDH0001 99 100 1 0.02

ZDDH0001 100 101 1 0.01

ZDDH0001 101 102 1 0.005

ZDDH0001 102 103 1 0.2

ZDDH0001 103 104 1 0.14

ZDDH0001 104 105 1 0.22

ZDDH0001 105 106 1 0.23

ZDDH0001 106 107 1 0.04

ZDDH0001 107 108 1 1.2

ZDDH0001 108 108.7 0.7 0.2

ZDDH0001 108.7 109.4 0.7 0.64

ZDDH0001 109.4 110 0.6 0.06

ZDDH0001 110 111 1 0.08

ZDDH0001 111 112 1 3.66

ZDDH0001 112 113 1 0.005

ZDDH0001 113 114 1 0.005

ZDDH0001 114 114.9 0.9 0.005

ZDDH0001 114.9 115.5 0.6 0.005

ZDDH0001 115.5 116 0.5 0.005

ZDDH0001 116 117 1 0.005

ZDDH0001 117 118 1 3.51

ZDDH0001 118 119 1 0.58

ZDDH0001 119 120 1 0.005

ZDDH0001 120 121 1 0.005

ZDDH0001 121 122 1 0.05

ZDDH0001 122 123 1 0.03

ZDDH0001 123 123.7 0.7 0.3

ZDDH0001 123.7 124.4 0.7 0.01

ZDDH0001 124.4 125.3 0.9 0.005

ZDDH0001 125.3 126 0.7 0.005

ZDDH0001 126 127 1 0.005

ZDDH0001 127 128 1 0.005

ZDDH0001 128 129 1 0.005

ZDDH0001 129 130 1 0.005

ZDDH0001 130 131 1 0.005

ZDDH0001 131 132 1 0.005

ZDDH0001 132 133 1 0.005

ZDDH0001 133 134 1 0.005

ZDDH0001 134 135 1 0.005

ZDDH0001 135 135.55 0.55 0.005



Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0001 135.55 136.1 0.55 0.005

ZDDH0001 136.1 137 0.9 0.005

ZDDH0001 137 138 1 0.005

ZDDH0001 138 139 1 0.61

ZDDH0001 139 140 1 0.02

ZDDH0001 140 141 1 0.03

ZDDH0001 141 141.9 0.9 0.03

ZDDH0002 0 1 1 0.01

ZDDH0002 1 2 1 0.16

ZDDH0002 2 3 1 0.03

ZDDH0002 3 3.8 0.8 0.02

ZDDH0002 3.8 4.4 0.6 0.02

ZDDH0002 4.4 5.1 0.7 0.03

ZDDH0002 5.1 5.7 0.6 0.02

ZDDH0002 5.7 6.1 0.4 0.79

ZDDH0002 6.1 7 0.9 0.24

ZDDH0002 7 7.6 0.6 0.07

ZDDH0002 7.6 8.2 0.6 0.06

ZDDH0002 8.2 8.8 0.6 0.06

ZDDH0002 8.8 9.4 0.6 1.39

ZDDH0002 9.4 10 0.6 1.28

ZDDH0002 10 10.6 0.6 0.73

ZDDH0002 10.6 11.1 0.5 5.3

ZDDH0002 11.1 12 0.9 3.36

ZDDH0002 12 13 1 0.65

ZDDH0002 13 14 1 1.82

ZDDH0002 14 15 1 0.24

ZDDH0002 15 16 1 0.84

ZDDH0002 16 17 1 0.57

ZDDH0002 17 18 1 0.75

ZDDH0002 18 19 1 0.03

ZDDH0002 19 20 1 2.15

ZDDH0002 20 21 1 0.49

ZDDH0002 21 21.75 0.75 0.17

ZDDH0002 21.75 22.75 1 0.78

ZDDH0002 22.75 23.5 0.75 1.21

ZDDH0002 23.5 24.3 0.8 1.03

ZDDH0002 24.3 25 0.7 0.05

ZDDH0002 25 26 1 0.03

ZDDH0002 26 26.55 0.55 0.04

ZDDH0002 26.55 27.1 0.55 0.01

ZDDH0002 27.1 27.8 0.7 0.25

ZDDH0002 27.8 28.4 0.6 0.005

ZDDH0002 28.4 29 0.6 0.07

ZDDH0002 29 30 1 0.01

ZDDH0002 30 31 1 0.02

ZDDH0002 31 31.55 0.55 0.18

ZDDH0002 31.55 32 0.45 0.02

ZDDH0002 32 32.8 0.8 0.01

ZDDH0002 32.8 33.1 0.3 0.02

Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0002 33.1 34 0.9 0.06

ZDDH0002 34 35 1 0.1

ZDDH0002 35 35.7 0.7 0.07

ZDDH0002 35.7 36.3 0.6 0.02

ZDDH0002 36.3 36.9 0.6 0.01

ZDDH0002 36.9 37.2 0.3 0.01

ZDDH0002 37.2 37.75 0.55 0.02

ZDDH0002 37.75 38.3 0.55 0.04

ZDDH0002 38.3 38.76 0.46 0.02

ZDDH0002 38.76 39.1 0.34 0.04

ZDDH0002 39.1 39.6 0.5 0.005

ZDDH0002 39.6 40.6 1 0.19

ZDDH0002 40.6 41 0.4 0.04

ZDDH0002 41 42 1 0.13

ZDDH0002 42 42.65 0.65 0.17

ZDDH0002 42.65 42.9 0.25 0.52

ZDDH0002 42.9 43.4 0.5 0.04

ZDDH0002 43.4 44.35 0.95 0.19

ZDDH0002 44.35 45.35 1 0.08

ZDDH0002 45.35 46 0.65 0.21

ZDDH0002 46 47 1 0.06

ZDDH0002 47 48 1 0.2

ZDDH0002 48 49 1 0.03

ZDDH0002 49 50 1 0.02

ZDDH0002 50 51 1 0.09

ZDDH0002 51 51.7 0.7 0.21

ZDDH0002 51.7 52.65 0.95 0.27

ZDDH0002 52.65 53.3 0.65 0.09

ZDDH0002 53.3 54 0.7 0.1

ZDDH0002 54 55 1 0.27

ZDDH0002 55 56 1 0.38

ZDDH0002 56 57 1 0.11

ZDDH0002 57 58 1 0.25

ZDDH0002 58 59 1 2.23

ZDDH0002 59 59.65 0.65 5.7

ZDDH0002 59.65 60.33 0.68 3.69

ZDDH0002 60.33 61 0.67 0.06

ZDDH0002 61 62 1 0.02

ZDDH0002 62 63 1 0.03

ZDDH0002 63 63.65 0.65 0.03

ZDDH0002 63.65 64.33 0.68 0.08

ZDDH0002 64.33 65 0.67 0.35

ZDDH0002 65 65.6 0.6 0.28

ZDDH0002 65.6 66.15 0.55 0.15

ZDDH0002 66.15 66.7 0.55 0.03

ZDDH0002 66.7 67.1 0.4 5.1

ZDDH0002 67.1 68 0.9 0.21

ZDDH0002 68 69 1 0.005

ZDDH0002 69 70 1 0.005

ZDDH0002 70 71 1 0.01



Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0002 71 72 1 0.09

ZDDH0002 72 72.7 0.7 0.07

ZDDH0002 72.7 73.35 0.65 0.01

ZDDH0002 73.35 74 0.65 0.005

ZDDH0002 74 75 1 0.03

ZDDH0002 75 76 1 0.08

ZDDH0002 76 77 1 0.005

ZDDH0002 77 78 1 0.005

ZDDH0002 78 78.6 0.6 0.005

ZDDH0002 78.6 79.23 0.63 0.005

ZDDH0002 79.23 79.6 0.37 0.005

ZDDH0002 79.6 80.3 0.7 0.005

ZDDH0002 80.3 81 0.7 0.005

ZDDH0002 81 82 1 0.005

ZDDH0002 82 83 1 0.005

ZDDH0002 83 84 1 0.005

ZDDH0002 84 85 1 0.005

ZDDH0002 85 86 1 0.005

ZDDH0002 86 87 1 0.005

ZDDH0002 87 88 1 0.005

ZDDH0002 88 88.7 0.7 0.005

ZDDH0002 88.7 89.4 0.7 0.005

ZDDH0003 0 4 4 0.32

ZDDH0003 4 5 1 0.17

ZDDH0003 5 6 1 0.04

ZDDH0003 6 7 1 0.1

ZDDH0003 7 8 1 0.06

ZDDH0003 8 9 1 0.25

ZDDH0003 9 10 1 0.33

ZDDH0003 10 11 1 0.03

ZDDH0003 11 11.4 0.4 0.04

ZDDH0003 11.4 12 0.6 0.05

ZDDH0003 12 13 1 0.02

ZDDH0003 13 14 1 0.005

ZDDH0003 14 15 1 0.02

ZDDH0003 15 15.9 0.9 0.005

ZDDH0003 15.9 16.45 0.55 0.005

ZDDH0003 16.45 17 0.55 0.02

ZDDH0003 17 18 1 0.02

ZDDH0003 18 19 1 0.005

ZDDH0003 19 20 1 0.005

ZDDH0003 20 21 1 0.01

ZDDH0003 21 22 1 5.2

ZDDH0003 22 22.83 0.83 5.3

ZDDH0003 22.83 23.4 0.57 0.03

ZDDH0003 23.4 24 0.6 0.03

ZDDH0003 24 25 1 0.02

ZDDH0003 25 25.6 0.6 0.36

ZDDH0003 25.6 26 0.4 0.88

ZDDH0003 26 27 1 1.54

Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0003 27 28 1 0.09

ZDDH0003 28 29 1 0.05

ZDDH0003 29 30 1 0.19

ZDDH0003 30 31 1 0.02

ZDDH0003 31 31.55 0.55 0.02

ZDDH0003 31.55 32.18 0.63 0.02

ZDDH0003 32.18 32.6 0.42 0.05

ZDDH0003 32.6 33 0.4 0.76

ZDDH0003 33 34 1 0.05

ZDDH0003 34 35 1 0.09

ZDDH0003 35 36 1 0.02

ZDDH0003 36 36.6 0.6 0.02

ZDDH0003 36.6 37.2 0.6 0.05

ZDDH0003 37.2 38 0.8 0.69

ZDDH0003 38 38.7 0.7 1.71

ZDDH0003 38.7 39 0.3 0.02

ZDDH0003 39 40 1 0.04

ZDDH0003 40 40.46 0.46 0.005

ZDDH0003 40.46 41 0.54 0.84

ZDDH0003 41 42 1 4.7

ZDDH0003 42 43 1 0.4

ZDDH0003 43 43.76 0.76 0.05

ZDDH0003 43.76 44.04 0.28 0.03

ZDDH0003 44.04 44.8 0.76 0.005

ZDDH0003 44.8 45.5 0.7 0.04

ZDDH0003 45.5 46 0.5 0.005

ZDDH0003 46 46.32 0.32 0.12

ZDDH0003 46.32 47.3 0.98 0.04

ZDDH0003 47.3 48 0.7 2

ZDDH0003 48 49 1 0.1

ZDDH0003 49 49.8 0.8 0.02

ZDDH0003 49.8 50.4 0.6 0.005

ZDDH0003 50.4 51 0.6 0.02

ZDDH0003 51 52 1 0.01

ZDDH0003 52 53 1 0.03

ZDDH0003 53 53.65 0.65 0.02

ZDDH0003 53.65 54.2 0.55 0.25

ZDDH0003 54.2 54.75 0.55 0.41

ZDDH0003 54.75 55.13 0.38 0.005

ZDDH0003 55.13 56 0.87 0.11

ZDDH0003 56 57 1 0.1

ZDDH0003 57 57.8 0.8 0.1

ZDDH0003 57.8 58.2 0.4 0.02

ZDDH0003 58.2 58.9 0.7 0.02

ZDDH0003 58.9 59.6 0.7 0.005

ZDDH0003 59.6 60 0.4 0.02

ZDDH0003 60 61 1 0.09

ZDDH0003 61 61.5 0.5 0.06

ZDDH0003 61.5 62.05 0.55 0.03

ZDDH0003 62.05 62.6 0.55 0.05



Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0003 62.6 63.3 0.7 0.02

ZDDH0003 63.3 64 0.7 0.02

ZDDH0003 64 65 1 1.13

ZDDH0003 65 66 1 0.34

ZDDH0003 66 67 1 0.28

ZDDH0003 67 68 1 0.15

ZDDH0003 68 69 1 0.48

ZDDH0003 69 70 1 0.83

ZDDH0003 70 71 1 0.1

ZDDH0003 71 72 1 0.04

ZDDH0003 72 73 1 1.05

ZDDH0003 73 74 1 0.07

ZDDH0003 74 74.3 0.3 0.15

ZDDH0003 74.3 74.75 0.45 0.39

ZDDH0003 74.75 75.4 0.65 0.29

ZDDH0003 75.4 76.4 1 0.45

ZDDH0003 76.4 77.3 0.9 0.2

ZDDH0003 77.3 78 0.7 0.16

ZDDH0003 78 79 1 0.06

ZDDH0003 79 80 1 0.1

ZDDH0003 80 80.6 0.6 0.07

ZDDH0003 80.6 81 0.4 0.04

ZDDH0003 81 82 1 0.03

ZDDH0003 82 82.6 0.6 0.02

ZDDH0003 82.6 83 0.4 0.02

ZDDH0003 83 83.5 0.5 0.05

ZDDH0003 83.5 84 0.5 0.02

ZDDH0003 84 85 1 0.04

ZDDH0003 85 85.8 0.8 0.12

ZDDH0003 85.8 86.4 0.6 0.1

ZDDH0003 86.4 87 0.6 0.02

ZDDH0003 87 88 1 0.01

ZDDH0003 88 89 1 0.005

ZDDH0003 89 89.6 0.6 0.005

ZDDH0003 89.6 90 0.4 0.005

ZDDH0003 90 91 1 1.53

ZDDH0003 91 92 1 0.03

ZDDH0003 92 93 1 0.09

ZDDH0003 93 94 1 0.05

ZDDH0003 94 95 1 0.05

ZDDH0003 95 96 1 0.005

ZDDH0003 96 97 1 0.005

ZDDH0003 97 98 1 0.005

ZDDH0003 98 98.6 0.6 0.005

ZDDH0003 98.6 99 0.4 0.005

ZDDH0003 99 100 1 0.02

ZDDH0003 100 101 1 0.005

ZDDH0003 101 102 1 0.01

ZDDH0003 102 103 1 0.02

ZDDH0003 103 104 1 0.005

Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0003 104 105 1 0.005

ZDDH0003 105 106 1 0.005

ZDDH0003 106 106.25 0.25 0.005

ZDDH0003 106.25 107.2 0.95 0.005

ZDDH0003 107.2 108 0.8 0.005

ZDDH0003 108 108.8 0.8 0.005

ZDDH0003 108.8 109.2 0.4 0.005

ZDDH0003 109.2 109.95 0.75 0.03

ZDDH0003 109.95 110.4 0.45 0.005

ZDDH0003 110.4 111 0.6 0.005

ZDDH0003 111 112 1 0.005

ZDDH0003 112 113 1 0.74

ZDDH0003 113 114 1 0.5

ZDDH0003 114 114.5 0.5 0.02

ZDDH0003 114.5 115 0.5 0.03

ZDDH0003 115 116 1 0.01

ZDDH0003 116 117 1 0.005

ZDDH0003 117 118 1 0.005

ZDDH0003 118 119 1 0.005

ZDDH0003 119 120 1 0.005

ZDDH0003 120 121 1 0.005

ZDDH0003 121 122 1 0.005

ZDDH0003 122 123 1 0.005

ZDDH0003 123 124 1 0.005

ZDDH0003 124 125 1 0.01

ZDDH0003 125 126 1 0.005

ZDDH0003 126 127 1 0.005

ZDDH0003 127 128 1 0.03

ZDDH0003 128 129 1 0.02

ZDDH0003 129 129.65 0.65 0.03

ZDDH0003 129.65 130.3 0.65 0.005

ZDDH0004 0 3 3 0.14

ZDDH0004 3 4 1 0.11

ZDDH0004 4 5 1 0.08

ZDDH0004 5 6 1 0.47

ZDDH0004 6 7 1 0.21

ZDDH0004 7 8 1 0.23

ZDDH0004 8 9 1 0.14

ZDDH0004 9 10 1 0.17

ZDDH0004 10 11 1 0.62

ZDDH0004 11 12 1 0.18

ZDDH0004 12 12.65 0.65 0.33

ZDDH0004 12.65 13.3 0.65 0.52

ZDDH0004 13.3 14.2 0.9 0.06

ZDDH0004 14.2 15 0.8 0.2

ZDDH0004 15 16 1 0.04

ZDDH0004 16 17 1 0.08

ZDDH0004 17 18 1 0.06

ZDDH0004 18 18.7 0.7 0.25

ZDDH0004 18.7 19.4 0.7 0.4



Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0004 19.4 20 0.6 0.03

ZDDH0004 20 21 1 0.03

ZDDH0004 21 21.4 0.4 0.01

ZDDH0004 21.4 22 0.6 0.26

ZDDH0004 22 23 1 0.26

ZDDH0004 23 24 1 0.16

ZDDH0004 24 24.8 0.8 0.31

ZDDH0004 24.8 25.5 0.7 0.13

ZDDH0004 25.5 26.2 0.7 0.32

ZDDH0004 26.2 26.8 0.6 0.03

ZDDH0004 26.8 27.4 0.6 0.02

ZDDH0004 27.4 28 0.6 0.04

ZDDH0004 28 28.55 0.55 0.1

ZDDH0004 28.55 29.1 0.55 0.13

ZDDH0004 29.1 30 0.9 0.005

ZDDH0004 30 30.6 0.6 0.005

ZDDH0004 30.6 31.15 0.55 0.005

ZDDH0004 31.15 31.45 0.3 0.08

ZDDH0004 31.45 32 0.55 0.06

ZDDH0004 32 33 1 0.15

ZDDH0004 33 34 1 0.07

ZDDH0004 34 35 1 0.26

ZDDH0004 35 36 1 0.39

ZDDH0004 36 37 1 0.57

ZDDH0004 37 38 1 0.2

ZDDH0004 38 39 1 0.09

ZDDH0004 39 40 1 0.12

ZDDH0004 40 41 1 0.73

ZDDH0004 41 42 1 0.95

ZDDH0004 42 43 1 1.7

ZDDH0004 43 44 1 1.45

ZDDH0004 44 44.69 0.69 0.08

ZDDH0004 44.69 45 0.31 0.04

ZDDH0004 45 46 1 0.05

ZDDH0004 46 47 1 0.13

ZDDH0004 47 47.8 0.8 0.07

ZDDH0004 47.8 48.08 0.28 0.72

ZDDH0004 48.08 49 0.92 0.34

ZDDH0004 49 50 1 0.79

ZDDH0004 50 51 1 0.38

ZDDH0004 51 52 1 0.03

ZDDH0004 52 53 1 0.01

ZDDH0004 53 54 1 0.07

ZDDH0004 54 55 1 0.005

ZDDH0004 55 56 1 0.05

ZDDH0004 56 57 1 2.03

ZDDH0004 57 57.46 0.46 8.9

ZDDH0004 57.46 58.35 0.89 15.9

ZDDH0004 58.35 58.9 0.55 10.8

ZDDH0004 58.9 59.44 0.54 3.08

Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0004 59.44 60 0.56 8.7

ZDDH0004 60 61 1 7.7

ZDDH0004 61 62 1 1.39

ZDDH0004 62 62.9 0.9 2.15

ZDDH0004 62.9 63.65 0.75 1.15

ZDDH0004 63.65 64 0.35 0.28

ZDDH0004 64 65 1 0.17

ZDDH0004 65 66 1 0.43

ZDDH0004 66 66.8 0.8 0.03

ZDDH0004 66.8 67.55 0.75 0.04

ZDDH0004 67.55 68.4 0.85 0.01

ZDDH0004 68.4 68.85 0.45 0.005

ZDDH0004 68.85 69.4 0.55 0.04

ZDDH0004 69.4 69.9 0.5 0.03

ZDDH0004 69.9 70.45 0.55 0.02

ZDDH0004 70.45 71 0.55 0.005

ZDDH0004 71 72 1 0.005

ZDDH0004 72 73 1 0.005

ZDDH0004 73 74 1 0.005

ZDDH0004 74 75 1 0.005

ZDDH0004 75 76 1 0.005

ZDDH0004 76 76.55 0.55 0.005

ZDDH0004 76.55 77.1 0.55 0.005

ZDDH0004 77.1 78 0.9 0.005

ZDDH0004 78 79 1 0.005

ZDDH0004 79 80 1 0.005

ZDDH0004 80 81 1 0.005

ZDDH0004 81 81.65 0.65 0.005

ZDDH0004 81.65 82.25 0.6 0.005

ZDDH0004 82.25 82.65 0.4 0.005

ZDDH0004 82.65 83 0.35 0.005

ZDDH0004 83 84 1 0.04

ZDDH0004 84 85 1 0.02

ZDDH0004 85 86 1 0.02

ZDDH0004 86 87 1 0.03

ZDDH0004 87 88 1 0.01

ZDDH0004 88 88.6 0.6 0.1

ZDDH0004 88.6 89 0.4 0.005

ZDDH0004 89 90 1 0.65

ZDDH0004 90 91 1 0.1

ZDDH0004 91 91.5 0.5 0.47

ZDDH0004 91.5 92.07 0.57 0.11

ZDDH0004 92.07 93 0.93 0.01

ZDDH0004 93 94 1 0.005

ZDDH0004 94 95 1 0.005

ZDDH0004 95 96 1 0.005

ZDDH0004 96 96.8 0.8 0.005

ZDDH0004 96.8 97.4 0.6 0.005

ZDDH0004 97.4 98.1 0.7 0.005

ZDDH0004 98.1 98.8 0.7 0.005



Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0004 98.8 99.2 0.4 0.005

ZDDH0004 99.2 100 0.8 0.02

ZDDH0004 100 101 1 0.01

ZDDH0004 101 102 1 0.005

ZDDH0004 102 103 1 0.02

ZDDH0004 103 103.5 0.5 0.005

ZDDH0004 103.5 104.3 0.8 0.1

ZDDH0004 104.3 105 0.7 0.01

ZDDH0004 105 106 1 0.005

ZDDH0004 106 107 1 0.005

ZDDH0004 107 108 1 0.02

ZDDH0004 108 108.7 0.7 0.01

ZDDH0004 108.7 109.7 1 0.005

ZDDH0004 109.7 110.7 1 0.005

ZDDH0004 110.7 111.7 1 0.005

ZDDH0004 111.7 112.35 0.65 0.005

ZDDH0004 112.35 113 0.65 0.005

ZDDH0004 113 114 1 0.005

ZDDH0004 114 115 1 0.005

ZDDH0004 115 116 1 0.005

ZDDH0004 116 117 1 0.02

ZDDH0004 117 118 1 0.005

ZDDH0005 0 1 1 0.02

ZDDH0005 1 2 1 0.05

ZDDH0005 2 3 1 0.09

ZDDH0005 3 4 1 0.06

ZDDH0005 4 5 1 0.25

ZDDH0005 5 5.4 0.4 0.42

ZDDH0005 5.4 5.9 0.5 0.1

ZDDH0005 5.9 6.5 0.6 0.15

ZDDH0005 6.5 7.15 0.65 0.13

ZDDH0005 7.15 8.1 0.95 0.22

ZDDH0005 8.1 8.4 0.3 0.05

ZDDH0005 8.4 8.8 0.4 0.04

ZDDH0005 8.8 9.4 0.6 0.26

ZDDH0005 9.4 9.8 0.4 0.21

ZDDH0005 9.8 10.15 0.35 20.1

ZDDH0005 10.15 11 0.85 0.93

ZDDH0005 11 12 1 0.24

ZDDH0005 12 13 1 0.4

ZDDH0005 13 13.6 0.6 0.62

ZDDH0005 13.6 14.2 0.6 0.12

ZDDH0005 14.2 15 0.8 0.74

ZDDH0005 15 16 1 0.63

ZDDH0005 16 17 1 0.55

ZDDH0005 17 18 1 0.74

ZDDH0005 18 19 1 0.45

ZDDH0005 19 19.75 0.75 0.96

ZDDH0005 19.75 20.5 0.75 0.14

ZDDH0005 20.5 21 0.5 4.81

Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0005 21 22 1 0.95

ZDDH0005 22 22.4 0.4 0.37

ZDDH0005 22.4 23 0.6 0.11

ZDDH0005 23 24 1 0.58

ZDDH0005 24 25 1 1.25

ZDDH0005 25 25.8 0.8 0.2

ZDDH0005 25.8 26.4 0.6 0.94

ZDDH0005 26.4 27 0.6 2.67

ZDDH0005 27 28 1 0.85

ZDDH0005 28 29 1 0.09

ZDDH0005 29 29.95 0.95 0.02

ZDDH0005 29.95 30.65 0.7 0.06

ZDDH0005 30.65 31 0.35 0.51

ZDDH0005 31 32 1 0.7

ZDDH0005 32 32.5 0.5 0.02

ZDDH0005 32.5 33.05 0.55 0.02

ZDDH0005 33.05 34 0.95 0.06

ZDDH0005 34 35 1 0.02

ZDDH0005 35 36 1 0.11

ZDDH0005 36 37 1 0.01

ZDDH0005 37 37.6 0.6 0.005

ZDDH0005 37.6 38.6 1 0.12

ZDDH0005 38.6 39 0.4 0.58

ZDDH0005 39 40 1 0.29

ZDDH0005 40 40.7 0.7 0.25

ZDDH0005 40.7 41.3 0.6 0.06

ZDDH0005 41.3 42 0.7 0.32

ZDDH0005 42 42.65 0.65 0.36

ZDDH0005 42.65 43 0.35 0.005

ZDDH0005 43 43.6 0.6 0.005

ZDDH0005 43.6 44.2 0.6 0.005

ZDDH0005 44.2 44.5 0.3 0.04

ZDDH0005 44.5 45 0.5 0.005

ZDDH0005 45 46 1 0.03

ZDDH0005 46 47 1 0.005

ZDDH0005 47 47.8 0.8 0.005

ZDDH0005 47.8 48.4 0.6 0.005

ZDDH0005 48.4 49 0.6 0.04

ZDDH0005 49 50 1 0.09

ZDDH0005 50 51 1 0.02

ZDDH0005 51 51.6 0.6 0.01

ZDDH0005 51.6 52 0.4 2.03

ZDDH0005 52 52.33 0.33 0.005

ZDDH0005 52.33 53 0.67 0.005

ZDDH0005 53 54 1 0.005

ZDDH0005 54 55 1 0.005

ZDDH0005 55 56 1 0.11

ZDDH0005 56 57 1 0.02

ZDDH0005 57 58 1 0.005

ZDDH0005 58 58.7 0.7 0.005



Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0005 58.7 59.35 0.65 0.005

ZDDH0005 59.35 60 0.65 0.005

ZDDH0005 60 61 1 0.005

ZDDH0005 61 62 1 0.01

ZDDH0005 62 63 1 0.005

ZDDH0005 63 64 1 0.005

ZDDH0005 64 64.35 0.35 0.005

ZDDH0005 64.35 65 0.65 0.01

ZDDH0005 65 66 1 1.57

ZDDH0005 66 67 1 0.49

ZDDH0005 67 68 1 0.09

ZDDH0005 68 69 1 0.19

ZDDH0005 69 70 1 0.02

ZDDH0005 70 71 1 0.005

ZDDH0005 71 72 1 0.01

ZDDH0005 72 73 1 4.32

ZDDH0005 73 74 1 0.005

ZDDH0005 74 75 1 1.38

ZDDH0005 75 75.55 0.55 0.26

ZDDH0005 75.55 76.4 0.85 0.13

ZDDH0005 76.4 77 0.6 0.02

ZDDH0005 77 78 1 0.13

ZDDH0005 78 78.45 0.45 0.28

ZDDH0005 78.45 79 0.55 0.2

ZDDH0005 79 80 1 0.12

ZDDH0005 80 81 1 0.005

ZDDH0005 81 82 1 0.01

ZDDH0005 82 83 1 0.15

ZDDH0005 83 84 1 0.37

ZDDH0005 84 85 1 0.04

ZDDH0005 85 85.9 0.9 0.25

ZDDH0005 85.9 86.5 0.6 0.1

ZDDH0005 86.5 87.05 0.55 0.07

ZDDH0005 87.05 87.6 0.55 0.005

ZDDH0005 87.6 88.45 0.85 0.005

ZDDH0005 88.45 89 0.55 0.005

ZDDH0005 89 90 1 0.02

ZDDH0005 90 91 1 0.02

ZDDH0005 91 92 1 0.02

ZDDH0005 92 93 1 0.05

ZDDH0005 93 94 1 0.005

ZDDH0005 94 94.8 0.8 0.005

ZDDH0005 94.8 95.33 0.53 0.01

ZDDH0005 95.33 96 0.67 0.005

ZDDH0005 96 96.7 0.7 0.005

ZDDH0005 96.7 97.45 0.75 0.005

ZDDH0005 97.45 97.95 0.5 0.005

ZDDH0005 97.95 98.9 0.95 0.1

ZDDH0005 98.9 99.9 1 0.005

ZDDH0005 99.9 100.6 0.7 0.09

Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0005 100.6 101.3 0.7 2.98

ZDDH0005 101.3 102 0.7 1.16

ZDDH0005 102 102.5 0.5 0.18

ZDDH0005 102.5 103 0.5 0.05

ZDDH0005 103 104 1 0.13

ZDDH0005 104 105 1 0.12

ZDDH0005 105 105.8 0.8 0.07

ZDDH0005 105.8 106.2 0.4 0.21

ZDDH0005 106.2 106.55 0.35 0.03

ZDDH0005 106.55 107 0.45 0.02

ZDDH0005 107 107.8 0.8 0.06

ZDDH0005 107.8 108.8 1 0.15

ZDDH0005 108.8 109.8 1 0.04

ZDDH0005 109.8 110.6 0.8 0.005

ZDDH0005 110.6 111 0.4 0.005

ZDDH0005 111 112 1 0.005

ZDDH0005 112 112.7 0.7 0.005

ZDDH0005 112.7 113.5 0.8 0.005

ZDDH0005 113.5 114.05 0.55 0.005

ZDDH0005 114.05 114.7 0.65 0.02

ZDDH0005 114.7 115.3 0.6 0.01

ZDDH0005 115.3 116 0.7 0.005

ZDDH0005 116 117 1 0.005

ZDDH0005 117 118 1 0.005

ZDDH0005 118 119 1 0.005

ZDDH0005 119 119.8 0.8 0.005

ZDDH0005 119.8 120.75 0.95 0.02

ZDDH0005 120.75 121.7 0.95 0.04

ZDDH0005 121.7 122.7 1 0.09

ZDDH0005 122.7 123.7 1 0.005

ZDDH0005 123.7 124.7 1 0.005

ZDDH0005 124.7 125.7 1 0.005

ZDDH0005 125.7 126.3 0.6 0.005

ZDDH0005 126.3 126.95 0.65 0.005

ZDDH0005 126.95 127.9 0.95 0.01

ZDDH0005 127.9 128.75 0.85 0.35

ZDDH0005 128.75 129 0.25 0.05

ZDDH0005 129 130 1 0.06

ZDDH0005 130 130.7 0.7 1.15

ZDDH0005 130.7 131.5 0.8 0.005

ZDDH0005 131.5 132 0.5 0.01

ZDDH0005 132 132.6 0.6 1.5

ZDDH0005 132.6 133.6 1 0.005

ZDDH0005 133.6 134.3 0.7 0.005

ZDDH0005 134.3 135 0.7 0.005

ZDDH0005 135 135.8 0.8 0.005

ZDDH0005 135.8 136.8 1 12.2

ZDDH0005 136.8 137.8 1 0.02

ZDDH0005 137.8 138.8 1 0.06

ZDDH0005 138.8 139.8 1 0.005



Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0005 139.8 140.8 1 0.005

ZDDH0005 140.8 141.4 0.6 0.005

ZDDH0005 141.4 142 0.6 0.005

ZDDH0007 0 1 1 0.03

ZDDH0007 1 2 1 7.8

ZDDH0007 2 3 1 6

ZDDH0007 3 4 1 0.44

ZDDH0007 4 5 1 0.19

ZDDH0007 5 6 1 0.05

ZDDH0007 6 7 1 0.19

ZDDH0007 7 8 1 0.14

ZDDH0007 8 9 1 0.14

ZDDH0007 9 10 1 0.01

ZDDH0007 10 10.5 0.5 0.04

ZDDH0007 10.5 11 0.5 0.35

ZDDH0007 11 11.75 0.75 0.02

ZDDH0007 11.75 12.75 1 0.01

ZDDH0007 12.75 13.75 1 0.01

ZDDH0007 13.75 14.3 0.55 0.01

ZDDH0007 14.3 15.3 1 0.02

ZDDH0007 15.3 16.3 1 0.08

ZDDH0007 16.3 17.2 0.9 0.01

ZDDH0007 17.2 18.2 1 0.01

ZDDH0007 18.2 19.2 1 0.02

ZDDH0007 19.2 20.2 1 0.28

ZDDH0007 20.2 21.2 1 0.02

ZDDH0007 21.2 22.2 1 0.01

ZDDH0007 22.2 23 0.8 0.01

ZDDH0007 23 24 1 0.005

ZDDH0007 24 25 1 0.05

ZDDH0007 25 26 1 0.005

ZDDH0007 26 27 1 0.005

ZDDH0007 27 27.5 0.5 0.005

ZDDH0007 27.5 28 0.5 0.005

ZDDH0007 28 29 1 0.005

ZDDH0007 29 30 1 0.005

ZDDH0007 30 31 1 0.005

ZDDH0007 31 32 1 0.005

ZDDH0007 32 33 1 0.005

ZDDH0007 33 34 1 0.02

ZDDH0007 34 35 1 0.005

ZDDH0007 35 36 1 0.005

ZDDH0007 36 37 1 0.005

ZDDH0007 37 38 1 0.01

ZDDH0007 38 39 1 0.005

ZDDH0007 39 40 1 4.47

ZDDH0007 40 41 1 0.66

ZDDH0007 41 42 1 0.14

ZDDH0007 42 43 1 0.41

ZDDH0007 43 44 1 0.19

Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0007 44 45 1 0.03

ZDDH0007 45 46 1 0.19

ZDDH0007 46 47 1 0.12

ZDDH0007 47 48 1 0.97

ZDDH0007 48 49 1 1.84

ZDDH0007 49 50 1 1.02

ZDDH0007 50 51 1 0.54

ZDDH0007 51 52 1 0.08

ZDDH0007 52 53 1 0.13

ZDDH0007 53 54 1 2.43

ZDDH0007 54 55 1 0.88

ZDDH0007 55 56 1 0.49

ZDDH0007 56 57 1 0.12

ZDDH0007 57 58 1 0.52

ZDDH0007 58 59 1 0.05

ZDDH0007 59 60 1 0.05

ZDDH0007 60 61 1 0.12

ZDDH0007 61 62 1 0.03

ZDDH0007 62 63 1 0.05

ZDDH0007 63 64 1 1.36

ZDDH0007 64 65 1 1.88

ZDDH0007 65 65.3 0.3 0.12

ZDDH0007 65.3 66.2 0.9 0.26

ZDDH0007 66.2 67.2 1 0.02

ZDDH0007 67.2 67.75 0.55 0.005

ZDDH0007 67.75 68.75 1 0.005

ZDDH0007 68.75 69.75 1 0.005

ZDDH0007 69.75 70.75 1 0.24

ZDDH0007 70.75 71.75 1 0.03

ZDDH0007 71.75 72.75 1 0.08

ZDDH0007 72.75 73.3 0.55 0.02

ZDDH0007 73.3 74 0.7 0.005

ZDDH0007 74 75 1 0.005

ZDDH0007 75 76 1 0.005

ZDDH0007 76 77 1 0.005

ZDDH0007 77 78 1 0.005

ZDDH0007 78 79 1 0.02

ZDDH0007 79 80 1 0.21

ZDDH0007 80 81 1 0.2

ZDDH0007 81 82 1 0.005

ZDDH0007 82 83 1 0.005

ZDDH0007 83 84 1 0.04

ZDDH0007 84 85 1 0.005

ZDDH0007 85 86 1 0.005

ZDDH0007 86 87 1 0.02

ZDDH0007 87 88 1 0.005

ZDDH0007 88 89 1 0.005

ZDDH0007 89 90 1 0.005

ZDDH0007 90 91 1 0.005

ZDDH0007 91 92 1 0.005



Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0007 92 93 1 0.2

ZDDH0007 93 94 1 0.02

ZDDH0007 94 95 1 0.04

ZDDH0007 95 96 1 0.05

ZDDH0007 96 96.45 0.45 0.05

ZDDH0007 96.45 97.15 0.7 0.01

ZDDH0007 97.15 97.7 0.55 0.07

ZDDH0007 97.7 98.2 0.5 0.005

ZDDH0007 98.2 99 0.8 0.36

ZDDH0007 99 100 1 0.01

ZDDH0007 100 101 1 0.005

ZDDH0007 101 102 1 0.005

ZDDH0007 102 103 1 0.005

ZDDH0007 103 104 1 0.11

ZDDH0007 104 104.85 0.85 0.1

ZDDH0007 104.85 105.65 0.8 0.45

ZDDH0007 105.65 106 0.35 0.21

ZDDH0007 106 107 1 0.15

ZDDH0007 107 108 1 0.33

ZDDH0007 108 109 1 0.41

ZDDH0007 109 110 1 0.44

ZDDH0007 110 111 1 0.08

ZDDH0007 111 111.6 0.6 0.005

ZDDH0007 111.6 112.65 1.05 0.005

ZDDH0007 112.65 113 0.35 0.005

ZDDH0007 113 114 1 0.18

ZDDH0007 114 115 1 0.005

ZDDH0007 115 116 1 0.02

ZDDH0007 116 116.55 0.55 0.01

ZDDH0007 116.55 117.4 0.85 0.005

ZDDH0007 117.4 118 0.6 2.75

ZDDH0007 118 119 1 0.01

ZDDH0007 119 120 1 0.02

ZDDH0007 120 120.77 0.77 0.04

ZDDH0007 120.77 121.53 0.76 0.005

ZDDH0007 121.53 122 0.47 0.005

ZDDH0007 122 122.65 0.65 0.005

ZDDH0007 122.65 123.4 0.75 0.005

ZDDH0007 123.4 124.1 0.7 0.005

ZDDH0007 124.1 124.85 0.75 0.01

ZDDH0007 124.85 125.6 0.75 0.02

ZDDH0007 125.6 126.36 0.76 0.19

ZDDH0007 126.36 127 0.64 0.67

ZDDH0007 127 128 1 0.005

ZDDH0007 128 129 1 0.005

ZDDH0007 129 129.5 0.5 0.005

ZDDH0007 129.5 130 0.5 0.005

ZDDH0007 130 130.77 0.77 0.04

ZDDH0007 130.77 131.65 0.88 0.005

ZDDH0007 131.65 132.6 0.95 0.005

Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0007 132.6 133.6 1 0.005

ZDDH0007 133.6 134 0.4 0.005

ZDDH0007 134 135 1 0.005

ZDDH0007 135 136 1 0.05

ZDDH0007 136 137 1 0.005

ZDDH0007 137 138 1 0.005

ZDDH0007 138 139 1 0.005

ZDDH0007 139 140 1 0.005

ZDDH0007 140 141 1 0.03

ZDDH0007 141 142 1 0.005

ZDDH0007 142 143 1 0.005

ZDDH0007 143 143.25 0.25 0.005

ZDDH0007 143.25 143.65 0.4 0.02

ZDDH0007 143.65 144.5 0.85 0.005

ZDDH0007 144.5 145 0.5 0.005

ZDDH0007 145 146 1 0.005

ZDDH0007 146 147 1 0.005

ZDDH0007 147 147.3 0.3 0.005

ZDDH0007 147.3 148 0.7 0.005

ZDDH0007 148 149 1 0.09

ZDDH0007 149 149.55 0.55 0.02

ZDDH0007 149.55 150.1 0.55 0.005

ZDDH0007 150.1 150.75 0.65 0.005

ZDDH0007 150.75 151.3 0.55 0.005

ZDDH0008 0 1 1 0.17

ZDDH0008 1 2 1 0.05

ZDDH0008 2 3 1 0.01

ZDDH0008 3 4 1 0.01

ZDDH0008 4 5 1 0.01

ZDDH0008 5 6 1 0.005

ZDDH0008 6 7 1 0.005

ZDDH0008 7 8 1 0.005

ZDDH0008 8 9 1 0.005

ZDDH0008 9 10 1 0.01

ZDDH0008 10 11 1 0.005

ZDDH0008 11 12 1 0.02

ZDDH0008 12 13 1 0.01

ZDDH0008 13 14 1 0.005

ZDDH0008 14 15 1 0.02

ZDDH0008 15 16 1 0.08

ZDDH0008 16 17 1 0.03

ZDDH0008 17 18 1 0.005

ZDDH0008 18 19 1 0.01

ZDDH0008 19 20 1 0.005

ZDDH0008 20 21 1 0.005

ZDDH0008 21 22 1 0.01

ZDDH0008 22 23 1 0.005

ZDDH0008 23 24 1 0.005

ZDDH0008 24 25 1 0.005

ZDDH0008 25 26 1 0.005



Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0008 26 27 1 0.005

ZDDH0008 27 28 1 0.01

ZDDH0008 28 29 1 0.005

ZDDH0008 29 30 1 0.005

ZDDH0008 30 31 1 0.03

ZDDH0008 31 32 1 0.07

ZDDH0008 32 33 1 0.15

ZDDH0008 33 34 1 0.08

ZDDH0008 34 35 1 0.07

ZDDH0008 35 36 1 0.41

ZDDH0008 36 37 1 0.62

ZDDH0008 37 38 1 0.14

ZDDH0008 38 39 1 0.02

ZDDH0008 39 40 1 0.03

ZDDH0008 40 40.6 0.6 0.005

ZDDH0008 40.6 41.1 0.5 1.02

ZDDH0008 41.1 42 0.9 0.005

ZDDH0008 42 43 1 0.04

ZDDH0008 43 44 1 0.005

ZDDH0008 44 44.5 0.5 0.005

ZDDH0008 44.5 45.5 1 0.005

ZDDH0008 45.5 46.3 0.8 0.07

ZDDH0008 46.3 47 0.7 0.01

ZDDH0008 47 48 1 0.005

ZDDH0008 48 49 1 0.005

ZDDH0008 49 50 1 0.005

ZDDH0008 50 51 1 0.005

ZDDH0008 51 52 1 0.005

ZDDH0008 52 53 1 0.01

ZDDH0008 53 54 1 0.03

ZDDH0008 54 55 1 0.02

ZDDH0008 55 56 1 0.05

ZDDH0008 56 57 1 0.01

ZDDH0008 57 58 1 0.14

ZDDH0008 58 59 1 1.43

ZDDH0008 59 60 1 0.005

ZDDH0008 60 61 1 0.01

ZDDH0008 61 62 1 0.01

ZDDH0008 62 63 1 0.03

ZDDH0008 63 64 1 0.005

ZDDH0008 64 65 1 0.005

ZDDH0008 65 66 1 0.005

ZDDH0008 66 67 1 0.02

ZDDH0008 67 68 1 0.05

ZDDH0008 68 69 1 0.005

ZDDH0008 69 70 1 0.005

ZDDH0008 70 71 1 0.02

ZDDH0008 71 72 1 0.005

ZDDH0008 72 73 1 0.005

ZDDH0008 73 74 1 0.005

Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0008 74 75 1 0.005

ZDDH0008 75 76 1 0.005

ZDDH0008 76 77 1 0.005

ZDDH0008 77 78 1 0.005

ZDDH0008 78 79 1 0.88

ZDDH0008 79 79.4 0.4 0.005

ZDDH0008 79.4 80 0.6 0.005

ZDDH0008 80 81 1 0.005

ZDDH0008 81 82 1 0.005

ZDDH0008 82 83 1 0.005

ZDDH0008 83 83.6 0.6 0.02

ZDDH0008 83.6 84.6 1 0.02

ZDDH0008 84.6 85 0.4 0.04

ZDDH0008 85 86 1 0.11

ZDDH0008 86 87 1 0.15

ZDDH0008 87 88 1 0.67

ZDDH0008 88 89 1 0.03

ZDDH0008 89 90 1 0.04

ZDDH0008 90 91 1 0.05

ZDDH0008 91 92 1 0.04

ZDDH0008 92 93 1 0.02

ZDDH0008 93 94 1 0.005

ZDDH0008 94 94.5 0.5 0.005

ZDDH0008 94.5 95.5 1 0.005

ZDDH0008 95.5 96.3 0.8 0.005

ZDDH0008 96.3 97 0.7 0.005

ZDDH0008 97 98 1 0.01

ZDDH0008 98 99 1 0.005

ZDDH0008 99 100 1 0.03

ZDDH0008 100 101 1 0.005

ZDDH0008 101 102 1 0.34

ZDDH0008 102 103 1 0.08

ZDDH0008 103 104 1 0.01

ZDDH0008 104 105 1 0.005

ZDDH0008 105 106 1 0.005

ZDDH0008 106 107 1 0.005

ZDDH0008 107 108 1 0.005

ZDDH0008 108 109 1 0.005

ZDDH0008 109 110 1 0.005

ZDDH0008 110 111 1 0.005

ZDDH0008 111 112 1 0.005

ZDDH0008 112 113 1 0.005

ZDDH0008 113 114 1 0.005

ZDDH0008 114 115 1 0.005

ZDDH0008 115 116 1 0.005

ZDDH0008 116 117 1 0.005

ZDDH0008 117 118 1 0.005

ZDDH0008 118 119 1 0.005

ZDDH0008 119 120 1 0.005

ZDDH0009 0 1 1 0.04



Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0009 1 2 1 0.09

ZDDH0009 2 3 1 0.03

ZDDH0009 3 4 1 0.13

ZDDH0009 4 5 1 1.86

ZDDH0009 5 6 1 0.92

ZDDH0009 6 7 1 0.09

ZDDH0009 7 8 1 0.03

ZDDH0009 8 9 1 0.16

ZDDH0009 9 10 1 0.07

ZDDH0009 10 10.5 0.5 0.05

ZDDH0009 10.5 11 0.5 0.17

ZDDH0009 11 12 1 0.05

ZDDH0009 12 12.55 0.55 0.11

ZDDH0009 12.55 13.25 0.7 0.3

ZDDH0009 13.25 13.75 0.5 0.02

ZDDH0009 13.75 14.2 0.45 0.97

ZDDH0009 14.2 15 0.8 1.09

ZDDH0009 15 15.8 0.8 0.06

ZDDH0009 15.8 16.05 0.25 0.08

ZDDH0009 16.05 17 0.95 0.14

ZDDH0009 17 18 1 0.04

ZDDH0009 18 19 1 1.71

ZDDH0009 19 20 1 0.005

ZDDH0009 20 21 1 0.07

ZDDH0009 21 22 1 1.31

ZDDH0009 22 23 1 1.21

ZDDH0009 23 23.6 0.6 0.52

ZDDH0009 23.6 24 0.4 0.49

ZDDH0009 24 25 1 1.87

ZDDH0009 25 26 1 0.54

ZDDH0009 26 26.4 0.4 0.13

ZDDH0009 26.4 27 0.6 0.04

ZDDH0009 27 27.65 0.65 0.05

ZDDH0009 27.65 28.5 0.85 0.36

ZDDH0009 28.5 29.15 0.65 1.55

ZDDH0009 29.15 30 0.85 0.23

ZDDH0009 30 31 1 0.59

ZDDH0009 31 32 1 0.28

ZDDH0009 32 33 1 0.03

ZDDH0009 33 34 1 0.05

ZDDH0009 34 35 1 0.2

ZDDH0009 35 36 1 0.37

ZDDH0009 36 37 1 0.47

ZDDH0009 37 38 1 0.4

ZDDH0009 38 39 1 0.06

ZDDH0009 39 40 1 0.17

ZDDH0009 40 41 1 0.02

ZDDH0009 41 42 1 0.08

ZDDH0009 42 43 1 0.03

ZDDH0009 43 44 1 0.01

Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0009 44 45 1 0.005

ZDDH0009 45 46 1 0.005

ZDDH0009 46 47 1 0.25

ZDDH0009 47 48 1 0.07

ZDDH0009 48 48.5 0.5 1.4

ZDDH0009 48.5 49 0.5 0.04

ZDDH0009 49 50 1 0.01

ZDDH0009 50 51 1 0.005

ZDDH0009 51 52 1 0.005

ZDDH0009 52 53 1 0.005

ZDDH0009 53 54 1 0.01

ZDDH0009 54 55 1 0.005

ZDDH0009 55 56 1 0.02

ZDDH0009 56 57 1 0.04

ZDDH0009 57 58 1 0.005

ZDDH0009 58 59 1 0.45

ZDDH0009 59 60 1 0.16

ZDDH0009 60 61 1 0.005

ZDDH0009 61 62 1 0.005

ZDDH0009 62 63 1 0.03

ZDDH0009 63 64 1 0.04

ZDDH0009 64 65 1 0.005

ZDDH0009 65 66 1 0.02

ZDDH0009 66 67 1 0.03

ZDDH0009 67 68 1 0.01

ZDDH0009 68 68.55 0.55 0.02

ZDDH0009 68.55 69 0.45 0.005

ZDDH0009 69 70 1 0.15

ZDDH0009 70 71 1 0.02

ZDDH0009 71 72 1 0.01

ZDDH0009 72 73 1 0.02

ZDDH0009 73 74 1 0.01

ZDDH0009 74 75 1 0.005

ZDDH0009 75 76 1 0.005

ZDDH0009 76 77 1 0.01

ZDDH0009 77 78 1 0.005

ZDDH0009 78 79 1 1.41

ZDDH0009 79 80 1 0.35

ZDDH0009 80 81 1 0.11

ZDDH0009 81 82 1 0.71

ZDDH0009 82 83 1 0.36

ZDDH0009 83 84 1 0.05

ZDDH0009 84 85 1 0.005

ZDDH0009 85 86 1 0.005

ZDDH0009 86 87 1 0.02

ZDDH0009 87 88 1 0.06

ZDDH0009 88 89 1 0.02

ZDDH0009 89 90 1 0.12

ZDDH0009 90 91 1 0.1

ZDDH0009 91 92 1 0.13



Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0009 92 93 1 0.59

ZDDH0009 93 94 1 0.03

ZDDH0009 94 95 1 0.06

ZDDH0009 95 96 1 0.005

ZDDH0009 96 97 1 0.08

ZDDH0009 97 98 1 0.005

ZDDH0009 98 99 1 0.01

ZDDH0009 99 100 1 0.005

ZDDH0009 100 101 1 0.01

ZDDH0009 101 102 1 0.02

ZDDH0009 102 103 1 0.005

ZDDH0009 103 104 1 0.005

ZDDH0009 104 105 1 0.005

ZDDH0009 105 106 1 0.02

ZDDH0009 106 107 1 0.005

ZDDH0009 107 108 1 0.005

ZDDH0009 108 109 1 0.005

ZDDH0009 109 110 1 0.005

ZDDH0009 110 111 1 0.005

ZDDH0009 111 112 1 0.005

ZDDH0009 112 113 1 0.005

ZDDH0009 113 114 1 0.005

ZDDH0009 114 115 1 0.005

ZDDH0009 115 116 1 0.005

ZDDH0009 116 117 1 0.005

ZDDH0009 117 117.6 0.6 0.005

ZDDH0009 117.6 118 0.4 0.005

ZDDH0009 118 119 1 0.005

ZDDH0009 119 120 1 0.005

ZDDH0010 0 1.5 1.5 0.005

ZDDH0010 1.5 3 1.5 0.01

ZDDH0010 3 4 1 0.005

ZDDH0010 4 5 1 0.01

ZDDH0010 5 5.5 0.5 0.005

ZDDH0010 5.5 6 0.5 0.005

ZDDH0010 6 7 1 0.005

ZDDH0010 7 7.8 0.8 0.005

ZDDH0010 7.8 8.55 0.75 0.08

ZDDH0010 8.55 9 0.45 0.12

ZDDH0010 9 10 1 0.02

ZDDH0010 10 10.95 0.95 0.04

ZDDH0010 10.95 11.65 0.7 0.02

ZDDH0010 11.65 12.5 0.85 0.005

ZDDH0010 12.5 13.5 1 0.005

ZDDH0010 13.5 14 0.5 0.02

ZDDH0010 14 14.8 0.8 0.005

ZDDH0010 14.8 15.3 0.5 0.02

ZDDH0010 15.3 16 0.7 0.005

ZDDH0010 16 17 1 0.02

ZDDH0010 17 18 1 0.1

Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0010 18 19 1 0.03

ZDDH0010 19 20 1 0.02

ZDDH0010 20 21 1 0.02

ZDDH0010 21 22 1 0.01

ZDDH0010 22 23 1 0.01

ZDDH0010 23 24 1 0.005

ZDDH0010 24 25 1 0.005

ZDDH0010 25 26 1 0.24

ZDDH0010 26 27 1 0.03

ZDDH0010 27 28 1 0.14

ZDDH0010 28 29 1 0.05

ZDDH0010 29 30 1 0.14

ZDDH0010 30 31 1 0.23

ZDDH0010 31 32 1 2.67

ZDDH0010 32 33 1 2.28

ZDDH0010 33 34 1 0.03

ZDDH0010 34 35 1 0.07

ZDDH0010 35 36 1 0.06

ZDDH0010 36 37 1 0.06

ZDDH0010 37 37.8 0.8 0.02

ZDDH0010 37.8 38.36 0.56 0.01

ZDDH0010 38.36 39 0.64 0.01

ZDDH0010 39 40 1 0.005

ZDDH0010 40 40.6 0.6 0.005

ZDDH0010 40.6 41.12 0.52 0.005

ZDDH0010 41.12 41.5 0.38 0.005

ZDDH0010 41.5 42 0.5 0.005

ZDDH0010 42 43 1 0.02

ZDDH0010 43 44 1 0.005

ZDDH0010 44 45 1 0.02

ZDDH0010 45 46 1 0.02

ZDDH0010 46 47 1 0.05

ZDDH0010 47 48 1 0.04

ZDDH0010 48 49 1 0.005

ZDDH0010 49 50 1 0.005

ZDDH0010 50 51 1 0.02

ZDDH0010 51 52 1 0.18

ZDDH0010 52 52.9 0.9 0.02

ZDDH0010 52.9 53.5 0.6 0.03

ZDDH0010 53.5 54.2 0.7 0.005

ZDDH0010 54.2 55 0.8 0.15

ZDDH0010 55 56 1 0.19

ZDDH0010 56 57 1 0.05

ZDDH0010 57 58 1 0.21

ZDDH0010 58 59 1 0.08

ZDDH0010 59 60 1 0.1

ZDDH0010 60 61 1 1.16

ZDDH0010 61 62 1 0.1

ZDDH0010 62 63 1 0.02

ZDDH0010 63 64 1 0.18



Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0010 64 65 1 0.02

ZDDH0010 65 66 1 0.005

ZDDH0010 66 67 1 1.04

ZDDH0010 67 67.7 0.7 0.05

ZDDH0010 67.7 68.7 1 0.03

ZDDH0010 68.7 69.5 0.8 0.02

ZDDH0010 69.5 70 0.5 0.05

ZDDH0010 70 71 1 0.02

ZDDH0010 71 72 1 0.03

ZDDH0010 72 73 1 0.01

ZDDH0010 73 74 1 0.01

ZDDH0010 74 75 1 0.02

ZDDH0010 75 75.55 0.55 0.46

ZDDH0010 75.55 76.25 0.7 7.9

ZDDH0010 76.25 77 0.75 0.41

ZDDH0010 77 78 1 0.16

ZDDH0010 78 79 1 1.47

ZDDH0010 79 80 1 0.71

ZDDH0010 80 81 1 0.85

ZDDH0010 81 82 1 0.03

ZDDH0010 82 82.5 0.5 0.5

ZDDH0010 82.5 83.45 0.95 8.3

ZDDH0010 83.45 84 0.55 0.45

ZDDH0010 84 85 1 0.01

ZDDH0010 85 85.75 0.75 0.92

ZDDH0010 85.75 86.45 0.7 15.4

ZDDH0010 86.45 87 0.55 0.43

ZDDH0010 87 88 1 0.34

ZDDH0010 88 88.64 0.64 2.41

ZDDH0010 88.64 89.4 0.76 0.17

ZDDH0010 89.4 90 0.6 0.07

ZDDH0010 90 91 1 0.4

ZDDH0010 91 92 1 3.34

ZDDH0010 92 93 1 3.01

ZDDH0010 93 94 1 10.2

ZDDH0010 94 94.5 0.5 1.8

ZDDH0010 94.5 95.5 1 4.59

ZDDH0010 95.5 96 0.5 5.6

ZDDH0010 96 97 1 15.5

ZDDH0010 97 98 1 0.1

ZDDH0010 98 99 1 3.66

ZDDH0010 99 100 1 3.37

ZDDH0010 100 101 1 2.25

ZDDH0010 101 102 1 1.95

ZDDH0010 102 103 1 1.23

ZDDH0010 103 104 1 0.71

ZDDH0010 104 105 1 0.23

ZDDH0010 105 106 1 0.18

ZDDH0010 106 107 1 0.04

ZDDH0010 107 108 1 0.02

Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0010 108 109 1 0.94

ZDDH0010 109 110 1 0.03

ZDDH0010 110 111 1 0.01

ZDDH0010 111 112 1 0.2

ZDDH0010 112 113 1 0.005

ZDDH0010 113 114 1 0.005

ZDDH0010 114 115 1 0.005

ZDDH0010 115 116 1 0.005

ZDDH0010 116 117 1 0.005

ZDDH0010 117 118 1 0.005

ZDDH0010 118 119 1 0.005

ZDDH0010 119 120 1 0.005

ZDDH0010 120 121 1 1.25

ZDDH0010 121 122 1 1.1

ZDDH0010 122 123 1 2.63

ZDDH0010 123 123.55 0.55 0.46

ZDDH0010 123.55 124.5 0.95 0.19

ZDDH0010 124.5 125 0.5 0.45

ZDDH0010 125 126 1 1.04

ZDDH0010 126 127 1 0.39

ZDDH0010 127 128 1 0.36

ZDDH0010 128 129 1 0.58

ZDDH0010 129 129.74 0.74 0.42

ZDDH0010 129.74 130.5 0.76 0.46

ZDDH0010 130.5 131 0.5 0.21

ZDDH0010 131 132 1 0.94

ZDDH0010 132 133 1 0.32

ZDDH0010 133 134 1 0.09

ZDDH0010 134 134.95 0.95 0.32

ZDDH0010 134.95 135.6 0.65 0.24

ZDDH0010 135.6 136.5 0.9 0.01

ZDDH0010 136.5 137 0.5 0.005

ZDDH0010 137 138 1 0.12

ZDDH0010 138 139 1 0.05

ZDDH0010 139 140 1 0.005

ZDDH0010 140 141 1 0.66

ZDDH0010 141 142 1 0.005

ZDDH0010 142 143 1 0.05

ZDDH0010 143 144 1 0.02

ZDDH0010 144 145 1 0.005

ZDDH0010 145 146 1 0.005

ZDDH0010 146 147 1 0.005

ZDDH0010 147 148 1 0.005

ZDDH0010 148 149 1 0.01

ZDDH0010 149 150 1 1.26

ZDDH0010 150 150.6 0.6 6.3

ZDDH0010 150.6 151.6 1 0.57

ZDDH0010 151.6 152.3 0.7 0.26

ZDDH0010 152.3 152.85 0.55 0.03

ZDDH0010 152.85 153.85 1 2.11



Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0010 153.85 154.6 0.75 0.04

ZDDH0010 154.6 155.5 0.9 0.01

ZDDH0010 155.5 156.5 1 0.05

ZDDH0010 156.5 157.5 1 0.18

ZDDH0010 157.5 158.5 1 1.97

ZDDH0010 158.5 159.3 0.8 1.03

ZDDH0010 159.3 160 0.7 0.02

ZDDH0010 160 161 1 0.005

ZDDH0010 161 162 1 0.005

ZDDH0010 162 163 1 0.03

ZDDH0010 163 164 1 0.02

ZDDH0010 164 165 1 0.01

ZDDH0010 165 166 1 0.005

ZDDH0010 166 167 1 0.07

ZDDH0010 167 168 1 0.005

ZDDH0010 168 169 1 0.005

ZDDH0010 169 170 1 0.005

ZDDH0010 170 171 1 0.005

ZDDH0010 171 172 1 0.005

ZDDH0010 172 173 1 0.02

ZDDH0010 173 174 1 0.005

ZDDH0010 174 175 1 0.12

ZDDH0010 175 176 1 0.005

ZDDH0011 0 1 1 0.02

ZDDH0011 1 2 1 0.01

ZDDH0011 2 3 1 0.01

ZDDH0011 3 3.8 0.8 0.02

ZDDH0011 3.8 4.7 0.9 0.04

ZDDH0011 4.7 5.3 0.6 0.1

ZDDH0011 5.3 5.9 0.6 0.16

ZDDH0011 5.3 5.9 0.6 0.005

ZDDH0011 5.9 6.6 0.7 0.34

ZDDH0011 6.6 7.3 0.7 0.09

ZDDH0011 7.3 8 0.7 0.02

ZDDH0011 8 9 1 0.1

ZDDH0011 9 9.7 0.7 0.13

ZDDH0011 9.7 10.4 0.7 0.53

ZDDH0011 10.4 11.1 0.7 0.74

ZDDH0011 10.4 11.1 0.7 1.35

ZDDH0011 11.1 11.8 0.7 0.25

ZDDH0011 11.8 12.4 0.6 0.02

ZDDH0011 11.8 12.4 0.6 0.02

ZDDH0011 12.4 13 0.6 0.03

ZDDH0011 13 14 1 0.16

ZDDH0011 14 15 1 0.02

ZDDH0011 15 16 1 0.13

ZDDH0011 15 16 1 0.67

ZDDH0011 16 17 1 0.005

ZDDH0011 17 18 1 0.005

ZDDH0011 18 19 1 0.12

Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0011 19 20 1 0.02

ZDDH0011 20 21 1 0.005

ZDDH0011 21 22 1 0.02

ZDDH0011 22 23 1 0.14

ZDDH0011 22 23 1 0.005

ZDDH0011 23 23.9 0.9 0.01

ZDDH0011 23.9 24.45 0.55 0.005

ZDDH0011 24.45 25 0.55 0.01

ZDDH0011 25 26 1 0.05

ZDDH0011 26 27 1 0.11

ZDDH0011 27 28 1 0.23

ZDDH0011 27 28 1 0.36

ZDDH0011 27 28 1 1.44

ZDDH0011 28 28.6 0.6 0.17

ZDDH0011 28.6 29 0.4 1.54

ZDDH0011 29 30 1 0.25

ZDDH0011 30 30.6 0.6 0.25

ZDDH0011 30.6 31.2 0.6 1.2

ZDDH0011 31.2 32 0.8 0.08

ZDDH0011 32 33 1 2.42

ZDDH0011 32 33 1 0.74

ZDDH0011 33 34 1 0.04

ZDDH0011 34 35 1 0.01

ZDDH0011 35 36 1 0.18

ZDDH0011 36 37 1 0.01

ZDDH0011 37 38 1 0.005

ZDDH0011 38 38.9 0.9 0.005

ZDDH0011 38.9 39.3 0.4 0.01

ZDDH0011 38.9 39.3 0.4 0.005

ZDDH0011 39.3 40 0.7 0.41

ZDDH0011 40 41 1 0.04

ZDDH0011 40 41 1 0.03

ZDDH0011 41 42 1 0.01

ZDDH0011 42 42.6 0.6 0.01

ZDDH0011 42.6 43.5 0.9 0.13

ZDDH0011 43.5 44.5 1 0.69

ZDDH0011 43.5 44.5 1 1.33

ZDDH0011 44.5 45 0.5 0.02

ZDDH0011 45 46 1 0.005

ZDDH0011 46 47 1 0.005

ZDDH0011 47 48 1 0.01

ZDDH0011 48 49 1 0.005

ZDDH0011 49 49.6 0.6 0.005

ZDDH0011 49.6 50 0.4 0.005

ZDDH0011 49.6 50 0.4 0.67

ZDDH0011 50 51 1 0.005

ZDDH0011 51 52 1 0.01

ZDDH0011 52 53 1 0.005

ZDDH0011 53 54 1 0.03

ZDDH0011 54 55 1 0.01



Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0011 55 56 1 0.01

ZDDH0011 55 56 1 0.03

ZDDH0011 55 56 1 0.005

ZDDH0011 56 57 1 0.005

ZDDH0011 57 58 1 0.02

ZDDH0011 58 59 1 0.005

ZDDH0011 59 60 1 0.02

ZDDH0011 60 61 1 3.54

ZDDH0011 61 62 1 0.02

ZDDH0011 62 63 1 0.03

ZDDH0011 62 63 1 1.45

ZDDH0011 63 64 1 0.01

ZDDH0011 64 65 1 0.005

ZDDH0011 65 66 1 0.19

ZDDH0011 66 67 1 0.005

ZDDH0011 67 68 1 0.05

ZDDH0011 68 69 1 0.005

ZDDH0011 69 70 1 0.005

ZDDH0011 69 70 1 0.7

ZDDH0011 70 71 1 0.005

ZDDH0011 71 72 1 0.005

ZDDH0011 71 72 1 0.005

ZDDH0011 72 73 1 0.03

ZDDH0011 73 74 1 0.41

ZDDH0011 74 75 1 0.03

ZDDH0011 75 76 1 0.13

ZDDH0011 75 76 1 0.005

ZDDH0011 76 77 1 0.02

ZDDH0011 77 77.6 0.6 0.01

ZDDH0011 77.6 78.3 0.7 0.005

ZDDH0011 78.3 79 0.7 0.005

ZDDH0011 79 80 1 0.005

ZDDH0011 80 80.6 0.6 0.005

ZDDH0011 80.6 81.2 0.6 0.01

ZDDH0011 80.6 81.2 0.6 1.42

ZDDH0011 81.2 81.5 0.3 0.005

ZDDH0011 81.5 81.8 0.3 0.005

ZDDH0011 81.8 82.1 0.3 0.005

ZDDH0011 82.1 83 0.9 0.02

ZDDH0011 83 84 1 0.08

ZDDH0011 84 85 1 0.005

ZDDH0011 84 85 1 0.005

ZDDH0011 84 85 1 0.76

ZDDH0011 85 86 1 0.005

ZDDH0011 86 87 1 0.005

ZDDH0011 87 88 1 0.02

ZDDH0011 88 88.6 0.6 0.005

ZDDH0011 88.6 89.25 0.65 0.05

ZDDH0011 89.25 90 0.75 0.01

ZDDH0011 90 91 1 0.005

Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0011 90 91 1 0.01

ZDDH0011 91 92 1 0.005

ZDDH0011 92 93 1 0.005

ZDDH0011 93 94 1 0.005

ZDDH0011 94 95 1 0.005

ZDDH0011 95 96 1 0.005

ZDDH0011 96 97 1 0.005

ZDDH0011 97 98 1 0.17

ZDDH0011 97 98 1 1.34

ZDDH0011 98 99 1 0.005

ZDDH0011 99 99.7 0.7 0.005

ZDDH0011 99 99.7 0.7 0.005

ZDDH0011 99.7 100.4 0.7 0.06

ZDDH0011 100.4 101.15 0.75 0.01

ZDDH0011 101.15 102 0.85 0.04

ZDDH0011 102 103 1 0.01

ZDDH0011 102 103 1 0.79

ZDDH0011 103 104 1 0.005

ZDDH0011 104 105 1 0.01

ZDDH0011 105 106 1 0.01

ZDDH0011 106 107 1 0.02

ZDDH0011 107 108 1 0.21

ZDDH0011 108 109 1 0.13

ZDDH0011 109 110 1 0.02

ZDDH0011 109 110 1 0.005

ZDDH0011 110 111 1 0.05

ZDDH0011 111 111.7 0.7 0.01

ZDDH0011 111.7 112.3 0.6 0.19

ZDDH0011 112.3 112.95 0.65 0.67

ZDDH0011 112.95 113.7 0.75 0.66

ZDDH0011 113.7 114.4 0.7 0.03

ZDDH0011 113.7 114.4 0.7 0.01

ZDDH0011 113.7 114.4 0.7 0.01

ZDDH0011 114.4 115 0.6 0.02

ZDDH0011 115 116 1 0.25

ZDDH0011 116 116.7 0.7 0.05

ZDDH0011 116.7 117.3 0.6 0.02

ZDDH0011 117.3 117.7 0.4 0.01

ZDDH0011 117.7 118.3 0.6 0.005

ZDDH0011 118.3 119 0.7 0.005

ZDDH0011 118.3 119 0.7 0.79

ZDDH0011 124 125 1 0.03

ZDDH0011 134 135 1 0.03

ZDDH0011 138 139 1 0.01

ZDDH0011 140.6 141.5 0.9 0.52

ZDDH0011 153 154 1 0.005

ZDDH0011 154 154.55 0.55 0.005

ZDDH0011 154.55 154.9 0.35 0.01

ZDDH0011 154.55 154.9 0.35 0.005

ZDDH0011 154.9 155.6 0.7 0.005



Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0011 155.6 156 0.4 0.005

ZDDH0011 155.6 156 0.4 0.005

ZDDH0011 156 157 1 0.005

ZDDH0011 157 158 1 0.005

ZDDH0011 158 159 1 0.005

ZDDH0011 159 160 1 0.005

ZDDH0011 159 160 1 0.48

ZDDH0011 160 161 1 0.005

ZDDH0011 161 162 1 0.01

ZDDH0011 162 162.5 0.5 0.005

ZDDH0011 162.5 163 0.5 0.01

ZDDH0011 163 164 1 0.03

ZDDH0011 164 164.8 0.8 0.1

ZDDH0011 164.8 165.4 0.6 0.02

ZDDH0011 164.8 165.4 0.6 0.7

ZDDH0011 165.4 166 0.6 0.06

ZDDH0011 166 167 1 0.76

ZDDH0011 167 168 1 0.01

ZDDH0011 168 169 1 0.005

ZDDH0011 169 170 1 0.005

ZDDH0011 170 171 1 0.01

ZDDH0011 170 171 1 0.03

ZDDH0011 170 171 1 0.005

ZDDH0011 171 172 1 0.02

ZDDH0011 172 172.63 0.63 0.39

ZDDH0011 172.63 173.6 0.97 0.39

ZDDH0011 173.6 174 0.4 0.3

ZDDH0011 174 175 1 0.1

ZDDH0011 175 176 1 0.11

ZDDH0011 176 176.54 0.54 1.46

ZDDH0011 176 176.54 0.54 5.18

ZDDH0011 176.54 177 0.46 0.03

ZDDH0011 177 178 1 0.01

ZDDH0011 178 179 1 1.06

ZDDH0011 179 180 1 0.48

ZDDH0011 180 181 1 0.5

ZDDH0011 181 181.7 0.7 0.56

ZDDH0011 181.7 182.5 0.8 3.01

ZDDH0011 181.7 182.5 0.8 0.78

ZDDH0011 182.5 183.24 0.74 0.72

ZDDH0011 183.24 183.8 0.56 0.32

ZDDH0011 183.24 183.8 0.56 0.06

ZDDH0011 183.8 184.22 0.42 4.25

ZDDH0011 184.22 184.89 0.67 3.11

ZDDH0011 184.89 185.2 0.31 5.78

ZDDH0011 185.2 186 0.8 0.28

ZDDH0011 185.2 186 0.8 0.005

ZDDH0011 186 187 1 1.1

ZDDH0011 187 187.45 0.45 0.03

ZDDH0011 187.45 188.45 1 5.79

Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0011 188.45 189.42 0.97 0.78

ZDDH0011 189.42 190 0.58 4.33

ZDDH0011 190 191 1 3.74

ZDDH0011 191 192 1 0.89

ZDDH0011 191 192 1 0.41

ZDDH0011 192 193 1 1.64

ZDDH0011 193 194 1 2.32

ZDDH0011 194 195 1 2.72

ZDDH0011 195 195.7 0.7 1.1

ZDDH0011 195.7 196.4 0.7 0.51

ZDDH0011 196.4 197 0.6 2.89

ZDDH0011 196.4 197 0.6 3.05

ZDDH0011 196.4 197 0.6 0.74

ZDDH0011 197 197.8 0.8 3.23

ZDDH0011 197.8 198.4 0.6 0.12

ZDDH0011 198.4 199 0.6 5.09

ZDDH0011 199 200 1 5.29

ZDDH0011 200 201 1 1.41

ZDDH0011 201 202 1 0.15

ZDDH0011 202 203 1 0.42

ZDDH0011 202 203 1 0.02

ZDDH0011 203 203.7 0.7 21.7

ZDDH0011 203.7 204.4 0.7 1.41

ZDDH0011 204.4 205 0.6 0.1

ZDDH0011 205 206 1 0.53

ZDDH0011 206 207 1 0.2

ZDDH0011 207 208 1 7.48

ZDDH0011 208 209 1 0.9

ZDDH0011 208 209 1 5.31

ZDDH0011 209 209.6 0.6 0.06

ZDDH0011 209.6 210.3 0.7 8.1

ZDDH0011 209.6 210.3 0.7 7.66

ZDDH0011 210.3 211 0.7 3.59

ZDDH0011 211 212 1 12.05

ZDDH0011 212 213 1 0.16

ZDDH0011 213 214 1 0.38

ZDDH0011 213 214 1 0.78

ZDDH0011 214 214.9 0.9 0.29

ZDDH0011 214.9 215.2 0.3 0.31

ZDDH0011 215.2 216 0.8 0.51

ZDDH0011 216 217 1 0.46

ZDDH0011 217 218 1 2.74

ZDDH0011 218 218.6 0.6 4.28

ZDDH0011 218.6 219.2 0.6 1.58

ZDDH0011 218.6 219.2 0.6 0.01

ZDDH0011 219.2 220 0.8 11.7

ZDDH0011 220 221 1 3.78

ZDDH0011 221 222 1 1.27

ZDDH0011 222 223 1 0.64

ZDDH0011 223 224 1 0.56



Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0011 224 225 1 0.18

ZDDH0011 224 225 1 0.31

ZDDH0011 224 225 1 0.56

ZDDH0011 225 226 1 0.07

ZDDH0011 226 227 1 0.1

ZDDH0011 227 228 1 0.01

ZDDH0011 228 229 1 0.42

ZDDH0011 229 230 1 0.58

ZDDH0011 230 231 1 0.01

ZDDH0011 231 232 1 0.05

ZDDH0011 231 232 1 0.72

ZDDH0011 232 233 1 0.06

ZDDH0011 233 234 1 0.04

ZDDH0011 234 235 1 0.35

ZDDH0011 235 236 1 0.08

ZDDH0011 236 237 1 0.11

ZDDH0011 237 238 1 0.06

ZDDH0011 238 238.7 0.7 1.19

ZDDH0011 238 238.7 0.7 0.01

ZDDH0011 238.7 239.42 0.72 0.05

ZDDH0011 239.42 240 0.58 0.005

ZDDH0011 239.42 240 0.58 0.005

ZDDH0011 240 241 1 0.06

ZDDH0011 241 241.7 0.7 0.02

ZDDH0011 241.7 242.4 0.7 0.41

ZDDH0011 242.4 243 0.6 0.87

ZDDH0011 242.4 243 0.6 5.19

ZDDH0011 243 244 1 0.33

ZDDH0011 244 245 1 0.53

ZDDH0011 245 245.6 0.6 0.63

ZDDH0011 245.6 246 0.4 0.25

ZDDH0011 246 246.6 0.6 0.13

ZDDH0011 246.6 247 0.4 6.71

ZDDH0011 247 248 1 3.12

ZDDH0011 247 248 1 0.78

ZDDH0011 248 248.7 0.7 2.45

ZDDH0011 248.7 249.4 0.7 2.98

ZDDH0011 249.4 250 0.6 3.7

ZDDH0011 250 251 1 1.16

ZDDH0011 251 252 1 0.23

ZDDH0011 252 253 1 2.6

ZDDH0011 252 253 1 1.14

ZDDH0011 252 253 1 0.01

ZDDH0011 253 254 1 0.39

ZDDH0011 254 255 1 4.35

ZDDH0011 255 255.8 0.8 1.32

ZDDH0011 255.8 256.4 0.6 1.15

ZDDH0011 256.4 257 0.6 0.19

ZDDH0011 257 258 1 0.61

ZDDH0011 258 259 1 0.35

Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0011 258 259 1 0.47

ZDDH0011 259 260 1 0.2

ZDDH0011 260 260.6 0.6 0.2

ZDDH0011 260.6 261.2 0.6 0.005

ZDDH0011 261.2 262 0.8 0.07

ZDDH0011 262 263 1 0.09

ZDDH0011 263 264 1 0.01

ZDDH0011 264 265 1 1.52

ZDDH0011 264 265 1 0.82

ZDDH0011 265 266 1 2.26

ZDDH0011 266 267 1 0.75

ZDDH0011 266 267 1 0.24

ZDDH0011 267 268 1 0.06

ZDDH0011 268 269 1 0.77

ZDDH0011 269 270 1 0.27

ZDDH0011 270 271 1 0.01

ZDDH0011 270 271 1 0.005

ZDDH0011 271 271.7 0.7 0.09

ZDDH0011 271.7 272.4 0.7 0.7

ZDDH0011 272.4 273 0.6 1.28

ZDDH0011 273 274 1 0.04

ZDDH0011 274 274.3 0.3 1.11

ZDDH0011 274.3 274.6 0.3 0.03

ZDDH0011 274.6 274.9 0.3 0.01

ZDDH0011 274.6 274.9 0.3 0.5

ZDDH0011 274.9 275.55 0.65 0.01

ZDDH0011 275.55 276 0.45 0.005

ZDDH0011 276 277 1 0.005

ZDDH0011 277 278 1 0.03

ZDDH0011 278 278.55 0.55 0.02

ZDDH0011 278.55 279.1 0.55 0.23

ZDDH0011 278.55 279.1 0.55 0.08

ZDDH0011 278.55 279.1 0.55 0.8

ZDDH0011 279.1 280 0.9 0.07

ZDDH0011 280 281 1 0.05

ZDDH0011 281 282 1 0.13

ZDDH0011 282 283 1 0.04

ZDDH0011 283 284 1 0.03

ZDDH0011 284 284.9 0.9 0.005

ZDDH0011 284.9 285.5 0.6 0.02

ZDDH0011 284.9 285.5 0.6 0.005

ZDDH0011 285.5 286 0.5 0.27

ZDDH0011 286 286.5 0.5 0.07

ZDDH0011 286.5 287 0.5 0.03

ZDDH0011 287 287.5 0.5 0.06

ZDDH0011 287.5 288 0.5 0.1

ZDDH0011 288 289 1 0.005

ZDDH0011 289 290 1 0.01

ZDDH0011 289 290 1 5.17

ZDDH0011 290 291 1 0.02



Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0011 291 291.7 0.7 0.05

ZDDH0011 291 291.7 0.7 0.06

ZDDH0011 291.7 292.3 0.6 0.05

ZDDH0011 292.3 293 0.7 0.03

ZDDH0011 293 294 1 0.06

ZDDH0011 294 295 1 0.02

ZDDH0011 294 295 1 0.74

ZDDH0011 295 296 1 0.6

ZDDH0011 296 297 1 1.46

ZDDH0011 297 298 1 0.31

ZDDH0011 298 298.6 0.6 0.06

ZDDH0011 298.6 299.2 0.6 0.4

ZDDH0011 299.2 300 0.8 0.16

ZDDH0011 300 300.5 0.5 0.07

ZDDH0011 300 300.5 0.5 0.01

ZDDH0012 0 1 1 0.11

ZDDH0012 1 1.7 0.7 0.12

ZDDH0012 1.7 2.3 0.6 0.34

ZDDH0012 2.3 3 0.7 21

ZDDH0012 3 4 1 56.2

ZDDH0012 4 4.7 0.7 13.05

ZDDH0012 4.7 5.4 0.7 0.01

ZDDH0012 4.7 5.4 0.7 0.23

ZDDH0012 5.4 6 0.6 0.73

ZDDH0012 6 7 1 0.34

ZDDH0012 7 8 1 0.45

ZDDH0012 8 8.4 0.4 0.48

ZDDH0012 8.4 9 0.6 0.07

ZDDH0012 9 9.7 0.7 0.07

ZDDH0012 9.7 10.3 0.6 0.14

ZDDH0012 9.7 10.3 0.6 4.74

ZDDH0012 10.3 10.9 0.6 0.04

ZDDH0012 10.9 11.8 0.9 0.04

ZDDH0012 10.9 11.8 0.9 0.05

ZDDH0012 11.8 12.6 0.8 0.08

ZDDH0012 12.6 13 0.4 0.05

ZDDH0012 13 14 1 0.04

ZDDH0012 14 15 1 0.02

ZDDH0012 14 15 1 0.78

ZDDH0012 15 16 1 0.29

ZDDH0012 16 17 1 0.07

ZDDH0012 17 17.6 0.6 0.06

ZDDH0012 17.6 18.45 0.85 2.44

ZDDH0012 18.45 19 0.55 1.07

ZDDH0012 19 20 1 4.1

ZDDH0012 20 20.6 0.6 1.24

ZDDH0012 20 20.6 0.6 0.005

ZDDH0012 20.6 21.3 0.7 1.51

ZDDH0012 21.3 22 0.7 0.32

ZDDH0012 22 23 1 0.28

Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0012 23 24 1 0.16

ZDDH0012 24 25 1 0.3

ZDDH0012 25 26 1 0.23

ZDDH0012 25 26 1 0.05

ZDDH0012 25 26 1 0.54

ZDDH0012 26 26.8 0.8 0.09

ZDDH0012 26.8 27.4 0.6 0.16

ZDDH0012 27.4 28 0.6 0.26

ZDDH0012 28 28.9 0.9 0.02

ZDDH0012 28.9 29.43 0.53 0.1

ZDDH0012 29.43 30 0.57 0.03

ZDDH0012 30 31 1 0.03

ZDDH0012 30 31 1 0.72

ZDDH0012 31 31.75 0.75 0.03

ZDDH0012 31.75 32.3 0.55 0.01

ZDDH0012 32.3 33 0.7 0.07

ZDDH0012 33 34 1 0.01

ZDDH0012 34 35 1 0.03

ZDDH0012 35 36 1 0.05

ZDDH0012 36 36.7 0.7 0.36

ZDDH0012 36 36.7 0.7 0.005

ZDDH0012 36.7 37.4 0.7 0.02

ZDDH0012 37.4 38 0.6 0.02

ZDDH0012 37.4 38 0.6 0.03

ZDDH0012 38 38.6 0.6 0.05

ZDDH0012 38.6 39.1 0.5 0.15

ZDDH0012 39.1 40 0.9 0.02

ZDDH0012 40 41 1 5.17

ZDDH0012 40 41 1 0.005

ZDDH0012 41 41.7 0.7 0.01

ZDDH0012 41.7 42.3 0.6 0.01

ZDDH0012 42.3 43 0.7 0.005

ZDDH0012 43 44 1 0.005

ZDDH0012 44 45 1 0.005

ZDDH0012 45 45.6 0.6 0.005

ZDDH0012 45.6 46.1 0.5 0.47

ZDDH0012 45.6 46.1 0.5 0.005

ZDDH0012 46.1 46.6 0.5 0.005

ZDDH0012 46.6 47.2 0.6 0.01

ZDDH0012 47.2 48 0.8 0.01

ZDDH0012 48 48.6 0.6 0.17

ZDDH0012 48.6 49 0.4 0.7

ZDDH0012 49 50 1 0.11

ZDDH0012 49 50 1 0.13

ZDDH0012 49 50 1 0.005

ZDDH0012 50 51 1 0.005

ZDDH0012 51 52 1 0.21

ZDDH0012 52 52.6 0.6 0.01

ZDDH0012 52.6 53.2 0.6 0.2

ZDDH0012 53.2 54 0.8 2.04



Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0012 54 55 1 1.35

ZDDH0012 55 56 1 1

ZDDH0012 55 56 1 5.02

ZDDH0012 56 56.8 0.8 0.17

ZDDH0012 56.8 57.1 0.3 0.01

ZDDH0012 57.1 58 0.9 0.24

ZDDH0012 58 58.8 0.8 1.26

ZDDH0012 58.8 59.4 0.6 0.03

ZDDH0012 59.4 60 0.6 0.005

ZDDH0012 60 61 1 0.47

ZDDH0012 60 61 1 0.005

ZDDH0012 61 62 1 0.11

ZDDH0012 62 62.7 0.7 0.005

ZDDH0012 62 62.7 0.7 0.005

ZDDH0012 62.7 63.3 0.6 0.005

ZDDH0012 63.3 64 0.7 0.005

ZDDH0012 64 65 1 0.005

ZDDH0012 65 66 1 0.005

ZDDH0012 65 66 1 0.005

ZDDH0012 66 67 1 0.005

ZDDH0012 67 67.6 0.6 0.005

ZDDH0012 67.6 68.3 0.7 0.005

ZDDH0012 68.3 69 0.7 0.005

ZDDH0012 69 70 1 0.005

ZDDH0012 70 71 1 0.005

ZDDH0012 71 72 1 0.005

ZDDH0012 71 72 1 5.33

ZDDH0012 72 73 1 0.005

ZDDH0012 73 74 1 0.005

ZDDH0012 74 75 1 0.01

ZDDH0012 75 76 1 0.005

ZDDH0012 76 76.8 0.8 0.005

ZDDH0012 76.8 77.4 0.6 0.01

ZDDH0012 76.8 77.4 0.6 0.005

ZDDH0012 76.8 77.4 0.6 0.41

ZDDH0012 77.4 78 0.6 0.08

ZDDH0012 78 79 1 0.01

ZDDH0012 79 80 1 0.2

ZDDH0012 80 81 1 0.005

ZDDH0012 81 82 1 0.005

ZDDH0012 82 83 1 0.005

ZDDH0012 83 83.8 0.8 0.005

ZDDH0012 83 83.8 0.8 0.005

ZDDH0012 83.8 84.36 0.56 0.005

ZDDH0012 84.36 85 0.64 0.005

ZDDH0012 85 86 1 0.05

ZDDH0012 86 87 1 0.01

ZDDH0012 87 88 1 0.12

ZDDH0012 88 89 1 0.28

ZDDH0012 89 90 1 0.34

Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0012 89 90 1 4.96

ZDDH0012 90 91 1 0.25

ZDDH0012 91 91.6 0.6 0.02

ZDDH0012 91 91.6 0.6 0.16

ZDDH0012 91.6 92 0.4 0.005

ZDDH0012 92 92.6 0.6 0.01

ZDDH0012 92.6 93.3 0.7 0.01

ZDDH0012 93.3 94 0.7 0.12

ZDDH0012 93.3 94 0.7 0.41

ZDDH0012 94 95 1 0.01

ZDDH0012 95 96 1 0.01

ZDDH0012 96 97 1 0.005

ZDDH0012 97 98 1 0.005

ZDDH0012 98 99 1 0.005

ZDDH0012 99 100 1 0.005

ZDDH0012 100 101 1 0.005

ZDDH0012 100 101 1 0.01

ZDDH0012 101 102 1 0.005

ZDDH0012 102 103 1 0.005

ZDDH0012 103 104 1 0.21

ZDDH0012 104 104.7 0.7 0.18

ZDDH0012 104.7 105.4 0.7 0.06

ZDDH0012 105.4 106 0.6 4.31

ZDDH0012 105.4 106 0.6 0.07

ZDDH0012 105.4 106 0.6 0.08

ZDDH0012 106 107 1 0.01

ZDDH0012 107 108 1 0.005

ZDDH0012 108 109 1 0.005

ZDDH0012 109 110 1 0.01

ZDDH0012 110 111 1 0.005

ZDDH0012 111 112 1 0.005

ZDDH0012 112 113 1 0.005

ZDDH0012 112 113 1 0.46

ZDDH0012 113 114 1 0.005

ZDDH0012 114 115 1 0.02

ZDDH0012 115 116 1 0.005

ZDDH0012 116 116.9 0.9 0.005

ZDDH0012 116.9 117.5 0.6 0.005

ZDDH0012 117.5 118 0.5 0.005

ZDDH0012 118 119 1 0.005

ZDDH0012 118 119 1 0.005

ZDDH0012 119 120 1 0.005

ZDDH0012 120 121 1 0.005

ZDDH0012 120 121 1 0.005

ZDDH0012 121 122 1 0.005

ZDDH0012 122 122.4 0.4 0.005

ZDDH0012 122.4 123 0.6 0.005

ZDDH0012 123 124 1 0.005

ZDDH0012 123 124 1 3.83

ZDDH0012 124 125 1 0.005



Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0012 125 126 1 0.005

ZDDH0012 126 126.5 0.5 0.01

ZDDH0012 126.5 127 0.5 0.01

ZDDH0012 127 127.7 0.7 0.005

ZDDH0012 127.7 128.3 0.6 0.005

ZDDH0012 128.3 129 0.7 0.49

ZDDH0012 128.3 129 0.7 0.005

ZDDH0012 129 130 1 0.005

ZDDH0012 130 131 1 0.005

ZDDH0012 131 132 1 0.005

ZDDH0012 132 132.4 0.4 0.02

ZDDH0012 132.4 133 0.6 0.005

ZDDH0012 133 134 1 0.005

ZDDH0012 133 134 1 0.005

ZDDH0012 133 134 1 0.005

ZDDH0012 134 134.5 0.5 0.01

ZDDH0012 134.5 135 0.5 0.01

ZDDH0012 135 136 1 0.005

ZDDH0012 136 137 1 0.005

ZDDH0012 137 138 1 0.005

ZDDH0012 138 139 1 0.005

ZDDH0012 139 140 1 0.005

ZDDH0012 139 140 1 5.27

ZDDH0012 140 141 1 0.005

ZDDH0012 141 142 1 0.005

ZDDH0012 142 143 1 0.005

ZDDH0012 143 144 1 0.005

ZDDH0012 144 144.7 0.7 0.01

ZDDH0012 144.7 145.6 0.9 0.005

ZDDH0012 145.6 146.2 0.6 0.005

ZDDH0012 145.6 146.2 0.6 0.47

ZDDH0012 146.2 147 0.8 0.005

ZDDH0012 147 148 1 0.005

ZDDH0012 147 148 1 0.01

ZDDH0012 148 148.7 0.7 0.005

ZDDH0012 148.7 149.5 0.8 0.01

ZDDH0012 149.5 150 0.5 0.005

ZDDH0012 150 151 1 0.01

ZDDH0012 150 151 1 0.005

ZDDH0012 151 151.8 0.8 0.22

ZDDH0012 151.8 152.2 0.4 2.29

ZDDH0012 152.2 153 0.8 0.05

ZDDH0012 153 154 1 0.02

ZDDH0012 154 155 1 0.01

ZDDH0012 155 156 1 0.01

ZDDH0012 156 157 1 0.01

ZDDH0012 156 157 1 5.04

ZDDH0012 157 158 1 0.01

ZDDH0012 158 159 1 0.005

ZDDH0012 159 160 1 0.005

Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0012 160 161 1 0.005

ZDDH0012 161 162 1 0.01

ZDDH0012 162 163 1 0.01

ZDDH0012 162 163 1 0.48

ZDDH0012 162 163 1 0.01

ZDDH0012 163 164 1 0.01

ZDDH0012 164 165 1 0.01

ZDDH0012 165 166 1 0.01

ZDDH0012 166 167 1 0.01

ZDDH0012 167 168 1 0.01

ZDDH0012 168 169 1 0.01

ZDDH0012 169 170 1 0.005

ZDDH0012 169 170 1 0.005

ZDDH0012 170 171 1 0.01

ZDDH0012 171 172 1 0.005

ZDDH0012 172 173 1 0.005

ZDDH0012 173 174 1 0.005

ZDDH0012 174 175 1 0.005

ZDDH0012 175 176 1 0.005

ZDDH0012 176 177 1 0.01

ZDDH0012 176 177 1 5.02

ZDDH0012 177 178 1 0.005

ZDDH0012 178 179 1 0.005

ZDDH0012 178 179 1 0.005

ZDDH0012 179 180 1 0.005

ZDDH0012 180 181 1 0.005

ZDDH0012 181 182 1 0.005

ZDDH0012 182 182.7 0.7 0.005

ZDDH0012 182 182.7 0.7 0.53

ZDDH0012 182.7 183.5 0.8 0.005

ZDDH0012 183.5 184 0.5 0.005

ZDDH0012 184 185 1 0.005

ZDDH0012 185 186 1 0.005

ZDDH0012 186 187 1 0.005

ZDDH0012 187 188 1 0.005

ZDDH0012 188 189 1 0.005

ZDDH0012 188 189 1 0.005

ZDDH0012 189 190 1 0.005

ZDDH0012 190 190.5 0.5 0.005

ZDDH0012 190.5 191.1 0.6 0.005

ZDDH0013 0 1 1 0.6

ZDDH0013 1 2 1 1.62

ZDDH0013 2 3 1 0.26

ZDDH0013 3 3.65 0.65 0.04

ZDDH0013 6.35 7 0.65 0.1

ZDDH0013 7 8 1 0.005

ZDDH0013 7 8 1 0.03

ZDDH0013 8 9 1 0.05

ZDDH0013 9 10 1 0.29

ZDDH0013 10 10.6 0.6 0.09



Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0013 10.6 11.1 0.5 1.33

ZDDH0013 11.1 11.9 0.8 0.09

ZDDH0013 11.9 12.5 0.6 0.59

ZDDH0013 12.5 13 0.5 0.11

ZDDH0013 12.5 13 0.5 1.55

ZDDH0013 13 13.4 0.4 0.17

ZDDH0013 13.4 14.3 0.9 0.68

ZDDH0013 13.4 14.3 0.9 1

ZDDH0013 14.3 14.9 0.6 0.09

ZDDH0013 14.9 15.6 0.7 0.02

ZDDH0013 15.6 16.3 0.7 0.04

ZDDH0013 16.3 17 0.7 8.54

ZDDH0013 16.3 17 0.7 0.01

ZDDH0013 17 18 1 0.03

ZDDH0013 18 19 1 0.04

ZDDH0013 19 20 1 0.15

ZDDH0013 20 21 1 0.01

ZDDH0013 21 22 1 0.005

ZDDH0013 22 22.7 0.7 0.005

ZDDH0013 22.7 23.2 0.5 0.005

ZDDH0013 22.7 23.2 0.5 0.005

ZDDH0013 23.2 24 0.8 0.005

ZDDH0013 24 25 1 0.02

ZDDH0013 25 26 1 0.64

ZDDH0013 26 27 1 0.04

ZDDH0013 27 28 1 0.09

ZDDH0013 28 28.55 0.55 0.05

ZDDH0013 28 28.55 0.55 0.05

ZDDH0013 28 28.55 0.55 2.98

ZDDH0013 28.55 29.1 0.55 3.05

ZDDH0013 29.1 29.8 0.7 1.43

ZDDH0013 29.8 30.6 0.8 0.13

ZDDH0013 30.6 31 0.4 0.005

ZDDH0013 31 32 1 0.005

ZDDH0013 32 32.5 0.5 0.07

ZDDH0013 32.5 33.07 0.57 0.08

ZDDH0013 32.5 33.07 0.57 0.75

ZDDH0013 33.07 33.7 0.63 0.02

ZDDH0013 33.7 34 0.3 0.03

ZDDH0013 34 34.65 0.65 0.01

ZDDH0013 34.65 35.1 0.45 0.005

ZDDH0013 35.1 36 0.9 0.005

ZDDH0013 36 36.7 0.7 0.01

ZDDH0013 36.7 37.1 0.4 0.005

ZDDH0013 36.7 37.1 0.4 0.005

ZDDH0013 37.1 37.5 0.4 0.05

ZDDH0013 37.5 38 0.5 0.02

ZDDH0013 37.5 38 0.5 0.04

ZDDH0013 38 38.3 0.3 0.005

ZDDH0013 38.3 39.05 0.75 0.01

Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0013 39.05 39.4 0.35 0.005

ZDDH0013 39.4 40 0.6 0.005

ZDDH0013 39.4 40 0.6 0.005

ZDDH0013 40 41 1 0.005

ZDDH0013 41 41.46 0.46 0.03

ZDDH0013 41.46 42 0.54 0.01

ZDDH0013 42 43 1 0.18

ZDDH0013 43 43.55 0.55 0.05

ZDDH0013 43.55 44 0.45 0.03

ZDDH0013 44 45 1 1.56

ZDDH0013 44 45 1 0.04

ZDDH0013 45 45.7 0.7 0.02

ZDDH0013 45.7 46.3 0.6 0.09

ZDDH0013 46.3 47 0.7 2.81

ZDDH0013 47 48 1 1.23

ZDDH0013 48 48.7 0.7 0.49

ZDDH0013 48.7 49.5 0.8 0.005

ZDDH0013 48.7 49.5 0.8 0.22

ZDDH0013 48.7 49.5 0.8 0.14

ZDDH0013 49.5 50.4 0.9 0.07

ZDDH0013 50.4 51.25 0.85 0.25

ZDDH0013 51.25 51.5 0.25 10.15

ZDDH0013 51.5 52.5 1 0.27

ZDDH0013 52.5 53 0.5 0.27

ZDDH0013 53 54 1 0.04

ZDDH0013 54 54.88 0.88 0.005

ZDDH0013 54 54.88 0.88 8.6

ZDDH0013 54.88 55.3 0.42 0.08

ZDDH0013 55.3 56.08 0.78 0.05

ZDDH0013 56.08 57 0.92 0.005

ZDDH0013 57 58 1 0.005

ZDDH0013 58 59 1 1.54

ZDDH0013 59 60 1 1.51

ZDDH0013 60 61 1 3.14

ZDDH0013 60 61 1 2.95

ZDDH0013 61 61.85 0.85 1.26

ZDDH0013 61.85 62.35 0.5 0.19

ZDDH0013 61.85 62.35 0.5 0.06

ZDDH0013 62.35 63 0.65 0.45

ZDDH0013 63 64 1 1.37

ZDDH0013 64 64.9 0.9 0.68

ZDDH0013 64.9 65.35 0.45 0.01

ZDDH0013 64.9 65.35 0.45 5.55

ZDDH0013 65.35 66 0.65 0.09

ZDDH0013 66 67 1 0.05

ZDDH0013 67 68 1 0.29

ZDDH0013 68 69 1 0.07

ZDDH0013 69 69.65 0.65 0.41

ZDDH0013 69.65 70 0.35 0.53

ZDDH0013 70 71 1 0.11



Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0013 70 71 1 0.78

ZDDH0013 71 72 1 0.01

ZDDH0013 72 73 1 0.005

ZDDH0013 73 74 1 0.02

ZDDH0013 74 74.5 0.5 0.01

ZDDH0013 74.5 75.1 0.6 0.01

ZDDH0013 75.1 75.8 0.7 0.005

ZDDH0013 75.1 75.8 0.7 0.005

ZDDH0013 75.1 75.8 0.7 0.005

ZDDH0013 75.8 76.6 0.8 0.005

ZDDH0013 76.6 77.4 0.8 0.01

ZDDH0013 77.4 78.1 0.7 0.01

ZDDH0013 78.1 78.7 0.6 0.005

ZDDH0013 78.7 79.35 0.65 0.005

ZDDH0013 79.35 80 0.65 0.005

ZDDH0013 80 80.45 0.45 0.005

ZDDH0013 80 80.45 0.45 0.005

ZDDH0013 80.45 81 0.55 0.005

ZDDH0013 81 82 1 0.005

ZDDH0013 82 83 1 0.22

ZDDH0013 83 83.5 0.5 0.01

ZDDH0013 83.5 84.4 0.9 0.005

ZDDH0013 84.4 85 0.6 0.005

ZDDH0013 85 86 1 0.005

ZDDH0013 85 86 1 1.6

ZDDH0013 86 87 1 0.005

ZDDH0013 99 100 1 0.005

ZDDH0013 99 100 1 0.01

ZDDH0013 100 101 1 0.06

ZDDH0013 101 102 1 0.16

ZDDH0013 102 103 1 0.34

ZDDH0013 103 103.7 0.7 1.36

ZDDH0013 103 103.7 0.7 8.66

ZDDH0013 103.7 104 0.3 0.98

ZDDH0013 104 104.3 0.3 0.08

ZDDH0013 104.3 105 0.7 0.24

ZDDH0013 105 106 1 0.02

ZDDH0013 106 107 1 0.005

ZDDH0013 107 108 1 0.005

ZDDH0013 108 108.85 0.85 0.005

ZDDH0013 108 108.85 0.85 0.005

ZDDH0013 108.85 109.3 0.45 0.04

ZDDH0013 109.3 110 0.7 0.005

ZDDH0013 121 122 1 0.005

ZDDH0013 122 123 1 0.005

ZDDH0013 123 124 1 0.07

ZDDH0013 124 124.65 0.65 0.02

ZDDH0013 124 124.65 0.65 3.04

ZDDH0013 124 124.65 0.65 0.06

ZDDH0013 124.65 125.4 0.75 0.005

Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0013 125.4 125.75 0.35 0.02

ZDDH0013 125.75 126.55 0.8 0.005

ZDDH0013 126.55 127.5 0.95 0.005

ZDDH0013 127.5 128 0.5 0.005

ZDDH0013 128 128.4 0.4 0.005

ZDDH0013 128.4 129 0.6 0.01

ZDDH0013 128.4 129 0.6 0.77

ZDDH0013 129 130 1 0.03

ZDDH0013 130 131 1 0.005

ZDDH0013 131 131.5 0.5 0.2

ZDDH0013 131.5 132 0.5 0.27

ZDDH0013 132 132.3 0.3 0.01

ZDDH0013 132.3 132.65 0.35 0.16

ZDDH0013 132.65 133.5 0.85 0.34

ZDDH0013 132.65 133.5 0.85 0.005

ZDDH0013 133.5 134 0.5 0.05

ZDDH0013 134 135 1 0.15

ZDDH0013 134 135 1 0.28

ZDDH0013 135 136 1 0.01

ZDDH0013 136 136.7 0.7 2.76

ZDDH0013 136.7 137.3 0.6 7.54

ZDDH0013 137.3 138 0.7 0.34

ZDDH0013 137.3 138 0.7 0.01

ZDDH0013 138 138.6 0.6 0.01

ZDDH0013 138.6 139.3 0.7 0.01

ZDDH0013 139.3 139.9 0.6 0.01

ZDDH0013 139.9 140.43 0.53 0.005

ZDDH0013 140.43 141.15 0.72 0.01

ZDDH0013 141.15 142 0.85 0.02

ZDDH0013 142 143 1 0.01

ZDDH0013 142 143 1 1.6

ZDDH0013 143 144 1 0.01

ZDDH0013 144 145 1 0.02

ZDDH0013 145 146 1 0.15

ZDDH0013 146 147 1 0.07

ZDDH0013 147 147.6 0.6 0.42

ZDDH0013 147.6 148 0.4 0.005

ZDDH0013 147.6 148 0.4 0.1

ZDDH0013 147.6 148 0.4 0.04

ZDDH0013 148 149 1 0.35

ZDDH0013 149 150 1 0.48

ZDDH0013 150 151 1 0.01

ZDDH0013 151 152 1 0.04

ZDDH0013 152 153 1 0.02

ZDDH0013 153 154 1 0.005

ZDDH0013 154 154.6 0.6 0.02

ZDDH0013 154 154.6 0.6 8.82

ZDDH0013 154.6 155.3 0.7 0.02

ZDDH0013 155.3 156 0.7 0.01

ZDDH0013 156 157 1 0.08



Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0013 157 158 1 0.11

ZDDH0013 158 159 1 0.25

ZDDH0013 159 160 1 0.03

ZDDH0013 160 161 1 0.12

ZDDH0013 160 161 1 3.01

ZDDH0013 161 162 1 0.26

ZDDH0013 162 163 1 0.13

ZDDH0013 162 163 1 0.13

ZDDH0013 163 164 1 0.08

ZDDH0013 164 165 1 0.25

ZDDH0013 165 166 1 0.57

ZDDH0013 166 167 1 0.15

ZDDH0013 166 167 1 0.005

ZDDH0013 167 168 1 2.63

ZDDH0013 168 169 1 1.57

ZDDH0013 169 169.7 0.7 0.93

ZDDH0013 169.7 170 0.3 0.01

ZDDH0013 170 170.4 0.4 0.24

ZDDH0013 170.4 171 0.6 2.5

ZDDH0013 171 172 1 3.34

ZDDH0013 171 172 1 0.76

ZDDH0013 172 173 1 2.44

ZDDH0013 173 173.6 0.6 1.39

ZDDH0013 173.6 174 0.4 0.02

ZDDH0013 174 175 1 0.05

ZDDH0013 175 176 1 0.18

ZDDH0013 176 177 1 0.02

ZDDH0013 177 178 1 0.12

ZDDH0013 177 178 1 0.01

ZDDH0013 178 179 1 0.05

ZDDH0013 179 180 1 0.04

ZDDH0013 180 181 1 0.1

ZDDH0013 181 182 1 0.02

ZDDH0013 182 183 1 0.02

ZDDH0013 183 184 1 0.03

ZDDH0013 184 185 1 0.08

ZDDH0013 184 185 1 0.78

ZDDH0013 185 186 1 0.29

ZDDH0013 186 186.7 0.7 0.01

ZDDH0013 186.7 187.5 0.8 0.19

ZDDH0013 187.5 188.15 0.65 0.51

ZDDH0013 188.15 189 0.85 0.29

ZDDH0013 189 190 1 0.05

ZDDH0013 190 191 1 0.01

ZDDH0013 191 192 1 0.005

ZDDH0013 191 192 1 0.005

ZDDH0013 191 192 1 0.005

ZDDH0013 192 193 1 0.01

ZDDH0013 193 194 1 0.005

ZDDH0013 194 195 1 0.12

Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0013 195 196 1 0.01

ZDDH0013 196 197 1 0.005

ZDDH0013 197 198 1 0.01

ZDDH0013 198 198.5 0.5 0.005

ZDDH0013 198 198.5 0.5 0.005

ZDDH0013 198.5 199.05 0.55 0.005

ZDDH0013 199.05 200 0.95 0.005

ZDDH0013 200 201 1 0.03

ZDDH0013 201 202 1 0.13

ZDDH0013 202 203 1 0.1

ZDDH0013 203 204 1 0.005

ZDDH0013 204 205 1 0.01

ZDDH0013 204 205 1 1.11

ZDDH0013 205 206 1 0.02

ZDDH0013 206 207 1 0.005

ZDDH0013 206 207 1 0.02

ZDDH0013 207 207.4 0.4 0.82

ZDDH0013 207.4 208.35 0.95 0.21

ZDDH0013 208.35 209 0.65 0.01

ZDDH0013 209 210 1 0.005

ZDDH0013 209 210 1 8.74

ZDDH0013 210 210.5 0.5 0.01

ZDDH0013 210.5 211 0.5 0.01

ZDDH0013 211 211.95 0.95 0.005

ZDDH0013 211.95 212.3 0.35 0.01

ZDDH0013 212.3 213 0.7 0.005

ZDDH0013 213 213.9 0.9 0.01

ZDDH0013 213.9 214.8 0.9 0.005

ZDDH0013 213.9 214.8 0.9 0.005

ZDDH0013 214.8 215.8 1 0.005

ZDDH0013 215.8 216.4 0.6 0.005

ZDDH0013 224 225 1 0.005

ZDDH0013 225 225.8 0.8 0.005

ZDDH0013 225.8 226.6 0.8 0.005

ZDDH0013 226.6 227.3 0.7 2.98

ZDDH0013 226.6 227.3 0.7 0.005

ZDDH0013 226.6 227.3 0.7 0.01

ZDDH0013 240 240.7 0.7 0.005

ZDDH0013 240.7 241.45 0.75 0.005

ZDDH0013 241.45 242.1 0.65 0.005

ZDDH0013 242.1 243 0.9 0.005

ZDDH0013 243 244 1 0.005

ZDDH0013 244 245 1 0.005

ZDDH0013 245 245.5 0.5 0.005

ZDDH0013 245 245.5 0.5 0.71

ZDDH0013 245.5 246.05 0.55 0.005

ZDDH0014 0 1.5 1.5 0.15

ZDDH0014 1.5 2 0.5 0.05

ZDDH0014 2 3 1 0.03

ZDDH0014 3 4 1 0.02



Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0014 4 5 1 0.02

ZDDH0014 5 5.5 0.5 0.01

ZDDH0014 5.5 6.1 0.6 0.01

ZDDH0014 5.5 6.1 0.6 0.005

ZDDH0014 6.1 7 0.9 0.01

ZDDH0014 7 7.5 0.5 0.01

ZDDH0014 7.5 8.05 0.55 0.03

ZDDH0014 8.05 9 0.95 0.03

ZDDH0014 9 10 1 0.02

ZDDH0014 10 11 1 0.02

ZDDH0014 11 12 1 0.01

ZDDH0014 11 12 1 1.55

ZDDH0014 12 12.95 0.95 0.01

ZDDH0014 12.95 13.25 0.3 0.02

ZDDH0014 12.95 13.25 0.3 0.02

ZDDH0014 13.25 14 0.75 0.02

ZDDH0014 14 14.7 0.7 0.14

ZDDH0014 14.7 15.3 0.6 0.19

ZDDH0014 15.3 16 0.7 8.23

ZDDH0014 15.3 16 0.7 9.53

ZDDH0014 16 17 1 0.09

ZDDH0014 17 18 1 5.1

ZDDH0014 18 18.55 0.55 0.08

ZDDH0014 18.55 19 0.45 1.12

ZDDH0014 19 19.95 0.95 5

ZDDH0014 19.95 20.4 0.45 0.15

ZDDH0014 20.4 21 0.6 0.11

ZDDH0014 21 22 1 0.39

ZDDH0014 21 22 1 0.005

ZDDH0014 22 23 1 0.2

ZDDH0014 23 23.9 0.9 2.84

ZDDH0014 23.9 24.7 0.8 2.97

ZDDH0014 24.7 25.3 0.6 5.29

ZDDH0014 25.3 25.8 0.5 9.15

ZDDH0014 25.8 26.3 0.5 15.45

ZDDH0014 25.8 26.3 0.5 3.02

ZDDH0014 25.8 26.3 0.5 0.74

ZDDH0014 26.3 26.85 0.55 0.4

ZDDH0014 26.85 27.6 0.75 0.11

ZDDH0014 27.6 28.3 0.7 0.37

ZDDH0014 28.3 29 0.7 0.04

ZDDH0014 29 30 1 0.03

ZDDH0014 30 31 1 0.76

ZDDH0014 30 31 1 0.74

ZDDH0014 31 32 1 1.36

ZDDH0014 32 33 1 0.49

ZDDH0014 33 33.4 0.4 0.15

ZDDH0014 33.4 34 0.6 0.58

ZDDH0014 34 35 1 0.05

ZDDH0014 35 35.9 0.9 0.06

Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0014 35.9 36.25 0.35 0.12

ZDDH0014 35.9 36.25 0.35 0.005

ZDDH0014 36.25 37 0.75 0.07

ZDDH0014 37 38 1 0.14

ZDDH0014 37 38 1 0.2

ZDDH0014 38 39 1 0.25

ZDDH0014 39 39.5 0.5 0.8

ZDDH0014 39.5 40.05 0.55 0.3

ZDDH0014 40.05 40.6 0.55 0.04

ZDDH0014 40.05 40.6 0.55 0.005

ZDDH0014 40.6 41.2 0.6 0.09

ZDDH0014 41.2 41.9 0.7 0.01

ZDDH0014 41.9 42.5 0.6 0.05

ZDDH0014 42.5 43 0.5 0.04

ZDDH0014 43 44 1 0.03

ZDDH0014 44 45 1 0.01

ZDDH0014 45 46 1 0.08

ZDDH0014 45 46 1 1.54

ZDDH0014 46 47 1 0.01

ZDDH0014 47 48 1 0.005

ZDDH0014 48 48.85 0.85 0.005

ZDDH0014 48.85 49.28 0.43 0.02

ZDDH0014 49.28 50 0.72 0.06

ZDDH0014 50 51 1 0.02

ZDDH0014 50 51 1 0.01

ZDDH0014 50 51 1 0.005

ZDDH0014 51 52 1 0.01

ZDDH0014 52 53 1 0.01

ZDDH0014 53 54 1 0.01

ZDDH0014 54 55 1 0.01

ZDDH0014 55 56 1 0.005

ZDDH0014 56 57 1 0.3

ZDDH0014 57 58 1 0.11

ZDDH0014 57 58 1 8.48

ZDDH0014 58 59 1 0.5

ZDDH0014 59 60 1 0.08

ZDDH0014 60 60.3 0.3 0.01

ZDDH0014 60.3 61 0.7 0.01

ZDDH0014 61 61.44 0.44 0.01

ZDDH0014 61.44 62.24 0.8 0.01

ZDDH0014 62.24 62.7 0.46 0.02

ZDDH0014 62.24 62.7 0.46 3.02

ZDDH0014 62.7 63 0.3 0.01

ZDDH0014 63 64 1 0.29

ZDDH0014 63 64 1 0.13

ZDDH0014 64 64.6 0.6 0.11

ZDDH0014 64.6 65.2 0.6 0.61

ZDDH0014 65.2 65.75 0.55 17.75

ZDDH0014 65.75 66.6 0.85 0.31

ZDDH0014 65.75 66.6 0.85 0.01



Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0014 66.6 67.05 0.45 0.23

ZDDH0014 67.05 67.35 0.3 1.68

ZDDH0014 67.35 68 0.65 0.69

ZDDH0014 68 68.6 0.6 0.05

ZDDH0014 68.6 69.5 0.9 0.18

ZDDH0014 69.5 70.3 0.8 0.02

ZDDH0014 70.3 70.6 0.3 1.73

ZDDH0014 70.3 70.6 0.3 0.7

ZDDH0014 70.6 71 0.4 0.07

ZDDH0014 71 72 1 0.03

ZDDH0014 72 72.8 0.8 0.04

ZDDH0014 72.8 73.4 0.6 0.02

ZDDH0014 73.4 74 0.6 0.01

ZDDH0014 74 75 1 0.03

ZDDH0014 74 75 1 0.03

ZDDH0014 74 75 1 0.005

ZDDH0014 75 76 1 0.07

ZDDH0014 76 77 1 0.06

ZDDH0014 77 78 1 0.08

ZDDH0014 78 79 1 0.02

ZDDH0014 79 80 1 0.01

ZDDH0014 80 81 1 0.01

ZDDH0014 81 82 1 0.01

ZDDH0014 81 82 1 0.005

ZDDH0014 82 83 1 0.01

ZDDH0014 83 83.7 0.7 0.005

ZDDH0014 83.7 84.25 0.55 0.005

ZDDH0014 84.25 84.8 0.55 0.01

ZDDH0014 84.8 85.5 0.7 0.005

ZDDH0014 85.5 86.4 0.9 0.02

ZDDH0014 86.4 87 0.6 0.01

ZDDH0014 86.4 87 0.6 1.57

ZDDH0014 87 87.6 0.6 0.01

ZDDH0014 87.6 88.15 0.55 0.01

ZDDH0014 87.6 88.15 0.55 0.01

ZDDH0014 88.15 88.9 0.75 0.01

ZDDH0014 88.9 89.6 0.7 0.005

ZDDH0014 89.6 90 0.4 0.01

ZDDH0014 90 91 1 0.04

ZDDH0014 90 91 1 8.64

ZDDH0014 91 92 1 0.02

ZDDH0014 92 93 1 0.01

ZDDH0014 93 94 1 0.1

ZDDH0014 94 95 1 0.01

ZDDH0014 95 96 1 0.25

ZDDH0014 96 97 1 0.04

ZDDH0014 97 97.7 0.7 0.02

ZDDH0014 97 97.7 0.7 0.005

ZDDH0014 97.7 98.4 0.7 0.06

ZDDH0014 98.4 99.15 0.75 0.01

Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0014 99.15 99.8 0.65 0.01

ZDDH0014 99.8 100.45 0.65 0.005

ZDDH0014 100.45 101 0.55 0.01

ZDDH0014 101 102 1 0.01

ZDDH0014 101 102 1 0.02

ZDDH0014 101 102 1 3.02

ZDDH0014 102 103 1 0.04

ZDDH0014 103 104 1 0.02

ZDDH0014 104 105 1 0.01

ZDDH0014 105 106 1 0.03

ZDDH0014 106 107 1 0.01

ZDDH0014 107 108 1 0.005

ZDDH0014 108 109 1 0.005

ZDDH0014 108 109 1 0.74

ZDDH0014 109 110 1 0.005

ZDDH0014 110 110.5 0.5 0.005

ZDDH0014 110.5 111.05 0.55 0.01

ZDDH0014 111.05 111.45 0.4 0.04

ZDDH0014 111.45 112 0.55 0.03

ZDDH0014 112 113 1 0.36

ZDDH0014 113 114 1 0.38

ZDDH0014 113 114 1 0.02

ZDDH0014 114 115 1 0.54

ZDDH0014 115 115.5 0.5 1.04

ZDDH0014 115 115.5 0.5 0.94

ZDDH0014 115.5 116.05 0.55 2.99

ZDDH0014 116.05 117 0.95 1.41

ZDDH0014 117 118 1 0.32

ZDDH0014 118 118.45 0.45 0.01

ZDDH0014 118 118.45 0.45 0.005

ZDDH0014 118.45 119.4 0.95 0.01

ZDDH0014 119.4 120 0.6 0.005

ZDDH0014 120 120.8 0.8 0.08

ZDDH0014 120.8 121.35 0.55 0.07

ZDDH0014 121.35 121.9 0.55 0.06

ZDDH0014 121.9 122.5 0.6 0.34

ZDDH0014 122.5 123 0.5 0.01

ZDDH0014 122.5 123 0.5 1.56

ZDDH0014 123 124 1 0.02

ZDDH0014 124 125 1 0.01

ZDDH0014 125 126 1 0.01

ZDDH0014 126 127 1 0.01

ZDDH0014 127 128 1 0.01

ZDDH0014 128 129 1 0.02

ZDDH0014 128 129 1 0.02

ZDDH0014 128 129 1 0.005

ZDDH0014 129 130 1 0.01

ZDDH0014 130 131 1 0.005

ZDDH0014 131 132 1 0.005

ZDDH0014 132 132.5 0.5 0.07



Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0014 132.5 133.1 0.6 0.18

ZDDH0014 133.1 134 0.9 0.02

ZDDH0014 134 135 1 0.11

ZDDH0014 134 135 1 8.34

ZDDH0014 135 135.8 0.8 0.02

ZDDH0014 135.8 136.6 0.8 0.03

ZDDH0014 136.6 137.5 0.9 0.07

ZDDH0014 137.5 138.4 0.9 0.02

ZDDH0014 138.4 139.4 1 0.02

ZDDH0014 139.4 140 0.6 0.08

ZDDH0014 140 141 1 0.13

ZDDH0014 140 141 1 2.95

ZDDH0014 141 142 1 0.09

ZDDH0014 142 143 1 0.15

ZDDH0014 142 143 1 0.21

ZDDH0014 143 144 1 0.06

ZDDH0014 144 145 1 0.06

ZDDH0014 145 146 1 0.18

ZDDH0014 146 147 1 0.05

ZDDH0014 146 147 1 0.005

ZDDH0014 147 147.7 0.7 0.08

ZDDH0014 147.7 148.5 0.8 1.13

ZDDH0014 148.5 149 0.5 0.37

ZDDH0014 149 150 1 0.21

ZDDH0014 150 151 1 0.05

ZDDH0014 151 151.6 0.6 0.06

ZDDH0014 151.6 152.3 0.7 0.22

ZDDH0014 151.6 152.3 0.7 0.74

ZDDH0014 152.3 153.25 0.95 0.36

ZDDH0014 153.25 153.8 0.55 0.005

ZDDH0014 153.8 154.35 0.55 0.01

ZDDH0014 154.35 155 0.65 0.26

ZDDH0014 155 156 1 0.35

ZDDH0014 156 157 1 0.1

ZDDH0014 156 157 1 0.13

ZDDH0014 156 157 1 0.005

ZDDH0014 157 158 1 0.06

ZDDH0014 158 159 1 0.07

ZDDH0014 159 159.6 0.6 0.58

ZDDH0014 159.6 160.2 0.6 0.02

ZDDH0014 160.2 160.5 0.3 0.39

ZDDH0014 160.5 161 0.5 0.07

ZDDH0014 161 162 1 0.08

ZDDH0014 161 162 1 0.005

ZDDH0014 162 163 1 0.005

ZDDH0014 163 164 1 0.07

ZDDH0014 164 164.6 0.6 0.005

ZDDH0014 164.6 165.3 0.7 0.72

ZDDH0014 165.3 166.2 0.9 0.07

ZDDH0014 166.2 167 0.8 0.12

Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0014 167 168 1 0.03

ZDDH0014 167 168 1 1.46

ZDDH0014 168 168.6 0.6 0.01

ZDDH0014 168.6 169.2 0.6 0.01

ZDDH0014 168.6 169.2 0.6 0.01

ZDDH0014 169.2 169.8 0.6 0.04

ZDDH0014 169.8 170.5 0.7 0.01

ZDDH0014 170.5 170.8 0.3 0.01

ZDDH0014 170.8 171.4 0.6 0.15

ZDDH0014 170.8 171.4 0.6 8.6

ZDDH0014 171.4 172 0.6 0.06

ZDDH0014 172 173 1 0.35

ZDDH0014 173 174 1 0.05

ZDDH0014 174 175 1 0.44

ZDDH0014 175 176 1 0.08

ZDDH0014 176 176.7 0.7 0.01

ZDDH0014 176.7 177.2 0.5 0.04

ZDDH0014 176.7 177.2 0.5 0.005

ZDDH0014 177.2 178 0.8 1.94

ZDDH0014 178 179 1 2.72

ZDDH0014 179 180 1 0.01

ZDDH0014 180 180.78 0.78 0.01

ZDDH0014 180.78 181.2 0.42 0.16

ZDDH0014 181.2 182 0.8 0.34

ZDDH0014 181.2 182 0.8 0.36

ZDDH0014 181.2 182 0.8 2.96

ZDDH0014 182 183 1 0.01

ZDDH0014 183 184 1 0.01

ZDDH0014 184 185 1 0.005

ZDDH0014 185 186 1 0.01

ZDDH0014 186 186.6 0.6 0.02

ZDDH0014 186.6 187 0.4 0.02

ZDDH0014 187 188 1 0.03

ZDDH0014 187 188 1 0.71

ZDDH0014 188 189 1 0.01

ZDDH0014 189 190 1 0.01

ZDDH0014 190 190.7 0.7 0.17

ZDDH0014 190.7 191.2 0.5 0.03

ZDDH0014 191.2 192 0.8 0.02

ZDDH0014 192 193 1 0.01

ZDDH0014 193 194 1 0.01

ZDDH0014 193 194 1 0.005

ZDDH0014 194 195 1 0.005

ZDDH0014 195 196 1 0.01

ZDDH0014 195 196 1 0.02

ZDDH0014 196 197 1 0.01

ZDDH0014 197 198 1 0.01

ZDDH0014 198 199 1 0.01

ZDDH0014 199 200 1 0.06

ZDDH0014 199 200 1 0.01



Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0014 200 201 1 0.21

ZDDH0014 201 202 1 0.02

ZDDH0014 202 203 1 0.005

ZDDH0014 203 204 1 0.005

ZDDH0014 204 204.6 0.6 0.01

ZDDH0014 204.6 205.2 0.6 0.04

ZDDH0014 205.2 206 0.8 0.005

ZDDH0014 205.2 206 0.8 1.6

ZDDH0014 206 206.5 0.5 0.07

ZDDH0014 206.5 207.1 0.6 0.005

ZDDH0014 207.1 208 0.9 0.01

ZDDH0014 208 209 1 0.005

ZDDH0014 209 210 1 0.01

ZDDH0014 210 211 1 0.01

ZDDH0014 210 211 1 0.01

ZDDH0014 210 211 1 0.005

ZDDH0014 211 212 1 0.005

ZDDH0014 212 213 1 0.005

ZDDH0014 213 214 1 0.005

ZDDH0014 214 215 1 0.01

ZDDH0014 215 216 1 0.005

ZDDH0014 216 216.4 0.4 0.005

ZDDH0014 216.4 217 0.6 0.005

ZDDH0014 216.4 217 0.6 8.26

ZDDH0014 217 218 1 0.02

ZDDH0014 218 218.5 0.5 0.005

ZDDH0014 218.5 219 0.5 0.005

ZDDH0014 219 220 1 0.005

ZDDH0014 220 221 1 0.005

ZDDH0014 221 222 1 0.005

ZDDH0014 222 223 1 0.02

ZDDH0014 222 223 1 2.89

ZDDH0014 223 224 1 0.005

ZDDH0014 224 225 1 0.005

ZDDH0014 224 225 1 0.005

ZDDH0014 225 226 1 0.005

ZDDH0014 226 227 1 0.005

ZDDH0014 227 227.6 0.6 0.005

ZDDH0014 227.6 228.2 0.6 0.005

ZDDH0014 227.6 228.2 0.6 0.005

ZDDH0014 228.2 229 0.8 0.03

ZDDH0014 229 230 1 0.16

ZDDH0014 230 231 1 0.005

ZDDH0014 231 232 1 0.005

ZDDH0014 232 233 1 0.005

ZDDH0014 233 234 1 0.005

ZDDH0014 234 235 1 0.02

ZDDH0014 234 235 1 0.74

ZDDH0014 235 236 1 0.005

ZDDH0014 236 237 1 0.005

Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0014 237 238 1 0.005

ZDDH0014 238 239 1 0.005

ZDDH0014 239 239.91 0.91 0.005

ZDDH0014 239.91 240.6 0.69 0.005

ZDDH0014 239.91 240.6 0.69 0.005

ZDDH0014 239.91 240.6 0.69 0.005

ZDDH0014 240.6 241.4 0.8 0.005

ZDDH0014 241.4 242 0.6 0.005

ZDDH0014 242 243 1 0.005

ZDDH0014 243 243.65 0.65 0.005

ZDDH0014 243.65 243.95 0.3 0.03

ZDDH0014 243.95 244.25 0.3 0.09

ZDDH0014 244.25 244.9 0.65 0.01

ZDDH0014 244.25 244.9 0.65 0.005

ZDDH0014 244.9 245.63 0.73 0.06

ZDDH0014 245.63 246 0.37 0.05

ZDDH0014 246 247 1 0.17

ZDDH0014 247 248 1 0.01

ZDDH0014 248 249 1 0.005

ZDDH0014 249 249.7 0.7 0.005

ZDDH0014 249.7 250.4 0.7 0.08

ZDDH0014 249.7 250.4 0.7 1.55

ZDDH0014 250.4 251 0.6 0.01

ZDDH0014 251 252 1 0.005

ZDDH0014 251 252 1 0.005

ZDDH0014 252 253 1 0.005

ZDDH0014 253 254 1 0.005

ZDDH0014 254 254.4 0.4 0.005

ZDDH0014 254.4 255 0.6 0.005

ZDDH0014 254.4 255 0.6 8.59

ZDDH0014 255 256 1 0.01

ZDDH0014 256 257 1 0.07

ZDDH0014 257 258 1 0.03

ZDDH0014 258 259 1 0.005

ZDDH0014 259 260 1 0.005

ZDDH0014 260 260.8 0.8 0.005

ZDDH0014 260.8 261.4 0.6 0.02

ZDDH0014 260.8 261.4 0.6 0.005

ZDDH0014 261.4 262 0.6 0.005

ZDDH0014 262 262.7 0.7 0.02

ZDDH0014 262.7 263.4 0.7 0.1

ZDDH0014 263.4 264.2 0.8 0.14

ZDDH0014 264.2 265 0.8 0.32

ZDDH0014 265 265.8 0.8 0.02

ZDDH0014 265 265.8 0.8 0.05

ZDDH0014 265 265.8 0.8 3.07

ZDDH0014 265.8 266.4 0.6 0.11

ZDDH0014 266.4 267 0.6 0.02

ZDDH0014 267 268 1 0.11

ZDDH0014 268 268.8 0.8 0.02



Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0014 268.8 269.7 0.9 0.01

ZDDH0014 269.7 270.3 0.6 0.5

ZDDH0014 270.3 271 0.7 0.13

ZDDH0014 270.3 271 0.7 0.77

ZDDH0014 271 272 1 0.07

ZDDH0014 272 273 1 0.01

ZDDH0014 273 274 1 0.03

ZDDH0014 274 275 1 0.17

ZDDH0014 275 276 1 0.02

ZDDH0014 276 277 1 0.04

ZDDH0014 277 277.85 0.85 0.005

ZDDH0014 277 277.85 0.85 0.005

ZDDH0014 277.85 278.2 0.35 0.01

ZDDH0014 278.2 279.1 0.9 0.01

ZDDH0014 278.2 279.1 0.9 0.005

ZDDH0014 279.1 279.7 0.6 0.005

ZDDH0014 279.7 280.3 0.6 0.005

ZDDH0014 280.3 281 0.7 0.005

ZDDH0014 281 281.7 0.7 0.01

ZDDH0014 281 281.7 0.7 0.005

ZDDH0014 281.7 282 0.3 0.01

ZDDH0014 282 283 1 0.005

ZDDH0014 283 284 1 0.005

ZDDH0014 284 285 1 0.01

ZDDH0014 285 286 1 0.01

ZDDH0014 286 287 1 4.47

ZDDH0014 287 287.6 0.6 0.01

ZDDH0014 287 287.6 0.6 1.59

ZDDH0014 287.6 288 0.4 0.005

ZDDH0014 288 289 1 0.005

ZDDH0014 289 290 1 0.005

ZDDH0014 290 290.7 0.7 0.01

ZDDH0014 290.7 291.5 0.8 0.005

ZDDH0014 291.5 292 0.5 0.01

ZDDH0014 292 292.6 0.6 0.005

ZDDH0014 292 292.6 0.6 0.005

ZDDH0014 292.6 293.2 0.6 0.005

ZDDH0014 293.2 294 0.8 0.005

ZDDH0014 294 295 1 0.005

ZDDH0014 295 296 1 0.005

ZDDH0014 296 297 1 0.005

ZDDH0014 297 298 1 0.005

ZDDH0014 298 299 1 0.03

ZDDH0014 298 299 1 8.63

ZDDH0014 299 299.7 0.7 0.04

ZDDH0014 299.7 300.4 0.7 0.03

ZDDH0015 0 11.9 11.9

ZDDH0015 11.9 12.5 0.6 0.27

ZDDH0015 11.9 12.5 0.6 0.005

ZDDH0015 12.5 13 0.5 0.18

Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0015 13 14 1 0.06

ZDDH0015 14 15 1 0.005

ZDDH0015 15 15.7 0.7 0.01

ZDDH0015 15.7 16.4 0.7 0.02

ZDDH0015 16.4 17.4 1 0.03

ZDDH0015 17.4 18.2 0.8 0.005

ZDDH0015 17.4 18.2 0.8 1.55

ZDDH0015 18.2 19 0.8 0.005

ZDDH0015 19 20 1 0.005

ZDDH0015 19 20 1 0.005

ZDDH0015 20 21 1 0.005

ZDDH0015 21 22 1 0.01

ZDDH0015 22 23 1 0.005

ZDDH0015 23 24 1 0.02

ZDDH0015 23 24 1 8.64

ZDDH0015 24 25 1 0.02

ZDDH0015 25 26 1 0.02

ZDDH0015 26 27 1 0.005

ZDDH0015 27 28 1 0.005

ZDDH0015 28 29 1 0.005

ZDDH0015 29 30 1 0.005

ZDDH0015 30 31 1 0.005

ZDDH0015 30 31 1 0.005

ZDDH0015 31 32 1 0.005

ZDDH0015 32 33 1 0.005

ZDDH0015 33 34 1 0.005

ZDDH0015 34 35 1 0.005

ZDDH0015 35 36 1 0.005

ZDDH0015 36 37 1 0.005

ZDDH0015 36 37 1 0.005

ZDDH0015 36 37 1 3.02

ZDDH0015 37 37.9 0.9 0.05

ZDDH0015 37.9 38.5 0.6 2.26

ZDDH0015 38.5 39 0.5 0.8

ZDDH0015 39 39.7 0.7 0.34

ZDDH0015 39.7 40.5 0.8 0.05

ZDDH0015 40.5 41 0.5 0.02

ZDDH0015 41 42 1 0.01

ZDDH0015 41 42 1 0.75

ZDDH0015 42 43 1 0.01

ZDDH0015 43 44 1 0.01

ZDDH0015 44 45 1 0.01

ZDDH0015 45 45.6 0.6 0.005

ZDDH0015 45.6 46.3 0.7 0.01

ZDDH0015 46.3 47 0.7 0.02

ZDDH0015 47 48 1 0.005

ZDDH0015 47 48 1 0.005

ZDDH0015 48 49 1 0.01

ZDDH0015 49 50 1 0.02

ZDDH0015 49 50 1 0.02



Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0015 50 51 1 0.02

ZDDH0015 51 52 1 0.01

ZDDH0015 52 53 1 0.01

ZDDH0015 53 54 1 0.01

ZDDH0015 53 54 1 0.005

ZDDH0015 54 55 1 0.01

ZDDH0015 55 56 1 0.13

ZDDH0015 56 57 1 0.08

ZDDH0015 57 57.8 0.8 0.26

ZDDH0015 57.8 58.4 0.6 0.01

ZDDH0015 58.4 59 0.6 0.02

ZDDH0015 59 60 1 0.01

ZDDH0015 59 60 1 1.58

ZDDH0015 60 61 1 0.02

ZDDH0015 61 62 1 0.01

ZDDH0015 62 63 1 0.005

ZDDH0015 63 64 1 0.01

ZDDH0015 64 65 1 0.02

ZDDH0015 65 66 1 0.06

ZDDH0015 65 66 1 0.05

ZDDH0015 65 66 1 0.005

ZDDH0015 66 67 1 0.04

ZDDH0015 67 68 1 0.01

ZDDH0015 68 68.6 0.6 0.01

ZDDH0015 68.6 69.3 0.7 0.01

ZDDH0015 69.3 70 0.7 0.01

ZDDH0015 70 71 1 0.01

ZDDH0015 71 72 1 0.03

ZDDH0015 71 72 1 8.48

ZDDH0015 72 73 1 0.02

ZDDH0015 73 74 1 0.01

ZDDH0015 74 75 1 0.005

ZDDH0015 75 76 1 0.01

ZDDH0015 76 77 1 0.005

ZDDH0015 77 78 1 0.01

ZDDH0015 78 79 1 0.01

ZDDH0015 78 79 1 2.98

ZDDH0015 79 80 1 0.005

ZDDH0015 80 81 1 0.01

ZDDH0015 80 81 1 0.005

ZDDH0015 81 82 1 0.01

ZDDH0015 82 83 1 0.005

ZDDH0015 83 84 1 0.01

ZDDH0015 84 85 1 0.01

ZDDH0015 84 85 1 0.005

ZDDH0015 85 86 1 0.005

ZDDH0015 86 87 1 0.01

ZDDH0015 87 88 1 0.005

ZDDH0015 88 89 1 0.01

ZDDH0015 89 90 1 0.01

Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0015 90 91 1 0.01

ZDDH0015 91 91.9 0.9 0.02

ZDDH0015 91 91.9 0.9 0.75

ZDDH0015 91.9 92.5 0.6 0.9

ZDDH0015 92.5 92.8 0.3 2.19

ZDDH0015 92.8 93.4 0.6 0.63

ZDDH0015 93.4 94 0.6 0.33

ZDDH0015 94 94.6 0.6 4.43

ZDDH0015 94.6 95.2 0.6 0.21

ZDDH0015 94.6 95.2 0.6 0.46

ZDDH0015 94.6 95.2 0.6 0.005

ZDDH0015 95.2 95.85 0.65 0.22

ZDDH0015 95.85 96.7 0.85 0.24

ZDDH0015 96.7 97.6 0.9 0.14

ZDDH0015 97.6 98.1 0.5 0.13

ZDDH0015 98.1 99 0.9 1.37

ZDDH0015 99 100 1 0.09

ZDDH0015 100 101 1 0.17

ZDDH0015 100 101 1 0.005

ZDDH0015 101 101.7 0.7 0.2

ZDDH0015 101.7 102.5 0.8 0.31

ZDDH0015 102.5 103 0.5 0.02

ZDDH0015 103 104 1 0.47

ZDDH0015 104 105 1 0.25

ZDDH0015 105 106 1 0.01

ZDDH0015 106 107 1 0.01

ZDDH0015 106 107 1 1.54

ZDDH0015 107 108 1 0.18

ZDDH0015 108 109 1 0.06

ZDDH0015 108 109 1 0.06

ZDDH0015 109 110 1 0.15

ZDDH0015 110 111 1 0.01

ZDDH0015 111 112 1 0.03

ZDDH0015 112 113 1 1.53

ZDDH0015 112 113 1 8.2

ZDDH0015 113 114 1 0.69

ZDDH0015 114 115 1 0.39

ZDDH0015 115 116 1 1.92

ZDDH0015 116 117 1 0.54

ZDDH0015 117 118 1 0.02

ZDDH0015 118 119 1 0.06

ZDDH0015 119 120 1 0.05

ZDDH0015 119 120 1 0.005

ZDDH0015 120 121 1 0.12

ZDDH0015 121 122 1 0.01

ZDDH0015 122 123 1 0.26

ZDDH0015 123 124 1 0.005

ZDDH0015 124 125 1 0.01

ZDDH0015 125 126 1 0.02

ZDDH0015 125 126 1 0.1



Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0015 125 126 1 2.94

ZDDH0015 126 127 1 0.01

ZDDH0015 127 128 1 0.01

ZDDH0015 128 129 1 0.01

ZDDH0015 129 130 1 0.4

ZDDH0015 130 131 1 0.01

ZDDH0015 131 132 1 0.04

ZDDH0015 132 132.7 0.7 1.38

ZDDH0015 132 132.7 0.7 0.75

ZDDH0015 132.7 133.3 0.6 0.01

ZDDH0015 133.3 134 0.7 0.15

ZDDH0015 134 135 1 0.01

ZDDH0015 135 136 1 0.01

ZDDH0015 136 137 1 0.01

ZDDH0015 137 138 1 0.01

ZDDH0015 138 139 1 0.01

ZDDH0015 138 139 1 0.005

ZDDH0015 139 140 1 0.005

ZDDH0015 140 141 1 0.005

ZDDH0015 140 141 1 0.005

ZDDH0015 141 142 1 0.01

ZDDH0015 142 143 1 0.02

ZDDH0015 143 144 1 0.01

ZDDH0015 144 145 1 0.01

ZDDH0015 144 145 1 0.005

ZDDH0015 145 146 1 0.005

ZDDH0015 146 147 1 0.005

ZDDH0015 147 148 1 0.01

ZDDH0015 148 149 1 0.01

ZDDH0015 149 150 1 0.01

ZDDH0015 150 151 1 0.005

ZDDH0015 151 152 1 0.01

ZDDH0015 151 152 1 1.56

ZDDH0015 152 153 1 0.005

ZDDH0015 153 154 1 0.005

ZDDH0015 154 155 1 0.005

ZDDH0015 155 156 1 0.01

ZDDH0015 156 157 1 0.01

ZDDH0015 157 158 1 0.005

ZDDH0015 157 158 1 0.01

ZDDH0015 157 158 1 0.005

ZDDH0015 158 159 1 0.005

ZDDH0015 159 160 1 0.01

ZDDH0015 160 161 1 0.005

ZDDH0015 161 162 1 0.005

ZDDH0015 162 163 1 0.005

ZDDH0015 163 164 1 0.005

ZDDH0015 164 165 1 0.005

ZDDH0015 164 165 1 8.53

ZDDH0015 165 166 1 0.005

Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0015 166 166.5 0.5 0.005

ZDDH0015 166.5 167.1 0.6 0.01

ZDDH0015 167.1 168 0.9 0.01

ZDDH0015 168 169 1 0.005

ZDDH0015 169 170 1 0.005

ZDDH0015 170 171 1 0.01

ZDDH0015 170 171 1 2.94

ZDDH0015 171 172 1 0.005

ZDDH0015 172 172.4 0.4 0.005

ZDDH0015 172 172.4 0.4 0.01

ZDDH0015 172.4 173 0.6 0.01

ZDDH0015 173 174 1 0.005

ZDDH0015 174 175 1 0.005

ZDDH0015 175 176 1 0.005

ZDDH0015 175 176 1 0.005

ZDDH0015 176 177 1 0.005

ZDDH0015 177 178 1 0.005

ZDDH0015 178 179 1 0.03

ZDDH0015 179 179.8 0.8 0.005

ZDDH0015 179.8 180.5 0.7 0.005

ZDDH0015 180.5 181 0.5 0.01

ZDDH0015 181 181.6 0.6 0.005

ZDDH0015 181 181.6 0.6 0.69

ZDDH0015 181.6 182.32 0.72 0.005

ZDDH0015 182.32 183 0.68 0.005

ZDDH0015 183 184 1 0.005

ZDDH0015 184 185 1 0.005

ZDDH0015 185 185.77 0.77 0.005

ZDDH0015 185.77 186.7 0.93 0.005

ZDDH0015 185.77 186.7 0.93 0.005

ZDDH0015 185.77 186.7 0.93 0.005

ZDDH0015 186.7 187.3 0.6 0.005

ZDDH0015 187.3 188 0.7 0.005

ZDDH0015 188 189 1 0.005

ZDDH0015 189 190 1 0.005

ZDDH0015 190 191 1 0.005

ZDDH0015 191 192 1 0.01

ZDDH0015 192 193 1 0.03

ZDDH0015 192 193 1 0.005

ZDDH0015 193 194 1 0.005

ZDDH0015 194 195 1 0.005

ZDDH0015 195 196 1 0.005

ZDDH0015 196 197 1 0.005

ZDDH0015 197 198 1 0.005

ZDDH0015 198 199 1 0.005

ZDDH0015 199 199.7 0.7 0.005

ZDDH0015 199 199.7 0.7 1.55

ZDDH0015 199.7 200.3 0.6 0.005

ZDDH0015 200.3 201 0.7 0.005

ZDDH0015 200.3 201 0.7 0.005



Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0015 201 202 1 0.005

ZDDH0015 202 203 1 0.005

ZDDH0015 203 204 1 0.005

ZDDH0015 204 205 1 0.005

ZDDH0015 204 205 1 8.6

ZDDH0015 205 206 1 0.005

ZDDH0015 206 206.95 0.95 0.005

ZDDH0015 206.95 207.35 0.4 0.01

ZDDH0015 207.35 208 0.65 0.005

ZDDH0015 208 209 1 0.03

ZDDH0015 209 210 1 0.005

ZDDH0015 210 211 1 0.005

ZDDH0015 210 211 1 0.005

ZDDH0015 211 211.6 0.6 0.005

ZDDH0015 211.6 212 0.4 0.005

ZDDH0015 212 213 1 0.005

ZDDH0015 213 214 1 0.005

ZDDH0015 214 214.5 0.5 0.005

ZDDH0015 214.5 215.12 0.62 0.005

ZDDH0015 214.5 215.12 0.62 0.005

ZDDH0015 214.5 215.12 0.62 2.95

ZDDH0015 215.12 215.55 0.43 0.005

ZDDH0015 215.55 216 0.45 0.005

ZDDH0015 216 217 1 0.005

ZDDH0015 217 218 1 0.005

ZDDH0015 218 218.6 0.6 0.01

ZDDH0015 218.6 219 0.4 0.005

ZDDH0015 219 219.5 0.5 0.005

ZDDH0015 219 219.5 0.5 0.75

ZDDH0015 219.5 220.1 0.6 0.005

ZDDH0015 220.1 221 0.9 0.005

ZDDH0015 221 222 1 0.005

ZDDH0015 222 223 1 0.005

ZDDH0015 223 224 1 0.005

ZDDH0015 224 225 1 0.005

ZDDH0015 225 226 1 0.005

ZDDH0015 225 226 1 0.005

ZDDH0015 226 226.5 0.5 0.005

ZDDH0015 226.5 227.1 0.6 0.005

ZDDH0015 226.5 227.1 0.6 0.005

ZDDH0015 227.1 228.1 1 0.005

ZDDH0015 228.1 229 0.9 0.005

ZDDH0015 229 229.85 0.85 0.005

ZDDH0015 229.85 230.4 0.55 0.005

ZDDH0015 229.85 230.4 0.55 0.005

ZDDH0015 230.4 231 0.6 0.005

ZDDH0015 231 232 1 0.005

ZDDH0015 232 233 1 0.005

ZDDH0015 233 234 1 0.005

ZDDH0015 234 235 1 0.005

Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0015 235 236 1 0.005

ZDDH0015 236 237 1 0.01

ZDDH0015 236 237 1 1.56

ZDDH0015 237 238 1 0.01

ZDDH0015 238 239 1 0.01

ZDDH0015 239 239.4 0.4 0.04

ZDDH0015 239.4 240 0.6 0.01

ZDDH0015 240 240.6 0.6 0.02

ZDDH0015 240.6 241.2 0.6 19

ZDDH0015 240.6 241.2 0.6 19.2

ZDDH0015 240.6 241.2 0.6 0.01

ZDDH0015 241.2 242 0.8 0.55

ZDDH0015 242 243 1 0.1

ZDDH0015 243 244 1 0.01

ZDDH0015 244 245 1 0.05

ZDDH0015 245 246 1 0.005

ZDDH0015 246 246.7 0.7 0.005

ZDDH0015 246.7 247.3 0.6 0.005

ZDDH0015 246.7 247.3 0.6 8.74

ZDDH0015 247.3 248 0.7 0.005

ZDDH0015 248 249 1 0.005

ZDDH0015 249 250 1 0.07

ZDDH0015 250 251 1 0.005

ZDDH0015 251 252 1 0.02

ZDDH0015 252 252.8 0.8 0.01

ZDDH0015 252.8 253.4 0.6 0.005

ZDDH0015 252.8 253.4 0.6 3

ZDDH0015 253.4 254 0.6 0.005

ZDDH0015 254 255 1 0.005

ZDDH0015 254 255 1 0.005

ZDDH0015 255 256 1 0.005

ZDDH0015 256 256.6 0.6 0.005

ZDDH0015 256.6 257.1 0.5 0.005

ZDDH0015 257.1 257.7 0.6 0.27

ZDDH0015 257.1 257.7 0.6 0.005

ZDDH0015 257.7 258.3 0.6 0.005

ZDDH0015 258.3 259 0.7 0.005

ZDDH0015 259 260 1 0.02

ZDDH0015 260 261 1 0.005

ZDDH0015 261 262 1 0.02

ZDDH0015 262 263 1 0.005

ZDDH0015 263 264 1 0.005

ZDDH0015 263 264 1 0.75

ZDDH0015 264 265 1 0.05

ZDDH0015 265 265.9 0.9 0.005

ZDDH0015 265.9 266.5 0.6 1.81

ZDDH0015 266.5 267 0.5 0.19

ZDDH0015 267 268 1 0.35

ZDDH0015 268 269 1 0.45

ZDDH0015 268 269 1 0.27



Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0015 268 269 1 0.005

ZDDH0015 269 270 1 0.09

ZDDH0015 270 271 1 0.01

ZDDH0015 271 272 1 0.005

ZDDH0015 272 272.6 0.6 0.005

ZDDH0015 272.6 273.2 0.6 0.01

ZDDH0015 273.2 273.7 0.5 0.005

ZDDH0015 273.7 274.3 0.6 0.04

ZDDH0015 273.7 274.3 0.6 0.005

ZDDH0015 274.3 275 0.7 0.005

ZDDH0015 275 276 1 0.005

ZDDH0015 276 277 1 0.005

ZDDH0015 277 278 1 0.005

ZDDH0015 278 278.6 0.6 0.005

ZDDH0015 278.6 279 0.4 0.005

ZDDH0015 279 279.6 0.6 0.005

ZDDH0015 279 279.6 0.6 1.54

ZDDH0015 279.6 280.3 0.7 0.01

ZDDH0015 280.3 280.6 0.3 0.005

ZDDH0015 280.3 280.6 0.3 0.005

ZDDH0015 280.6 281 0.4 0.005

ZDDH0015 281 282 1 0.005

ZDDH0015 282 283 1 0.005

ZDDH0015 283 284 1 0.005

ZDDH0015 283 284 1 8.56

ZDDH0015 284 284.7 0.7 0.01

ZDDH0015 284.7 285.4 0.7 0.03

ZDDH0015 285.4 286 0.6 0.73

ZDDH0015 286 286.8 0.8 0.43

ZDDH0015 286.8 287.4 0.6 0.005

ZDDH0015 287.4 288 0.6 0.005

ZDDH0015 288 289 1 0.005

ZDDH0015 288 289 1 0.005

ZDDH0015 289 290 1 0.005

ZDDH0015 290 291 1 0.005

ZDDH0015 291 292 1 0.005

ZDDH0015 292 293 1 0.03

ZDDH0015 293 294 1 0.01

ZDDH0015 294 295 1 0.005

ZDDH0015 294 295 1 0.005

ZDDH0015 294 295 1 3.01

ZDDH0015 295 296 1 0.005

ZDDH0015 296 297 1 0.005

ZDDH0015 297 298 1 0.005

ZDDH0015 298 299 1 0.02

ZDDH0015 299 300 1 0.005

ZDDH0016 0 5.3 5.3

ZDDH0016 5.3 6 0.7 0.01

ZDDH0016 6 7 1 0.005

ZDDH0016 7 8 1 0.005

Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0016 8 9 1 0.01

ZDDH0016 9 10 1 0.005

ZDDH0016 10 11 1 0.18

ZDDH0016 11 12 1 0.02

ZDDH0016 11 12 1 0.005

ZDDH0016 12 13 1 0.005

ZDDH0016 13 13.6 0.6 0.005

ZDDH0016 13.6 14.2 0.6 0.005

ZDDH0016 14.2 15 0.8 0.02

ZDDH0016 15 16 1 0.01

ZDDH0016 16 17 1 0.02

ZDDH0016 17 18 1 0.02

ZDDH0016 17 18 1 1.55

ZDDH0016 18 18.5 0.5 0.005

ZDDH0016 18.5 19.35 0.85 0.02

ZDDH0016 18.5 19.35 0.85 0.06

ZDDH0016 19.35 20 0.65 0.005

ZDDH0016 20 21 1 0.005

ZDDH0016 21 22 1 0.005

ZDDH0016 22 23 1 0.005

ZDDH0016 22 23 1 8.55

ZDDH0016 31 32 1 0.005

ZDDH0016 32 33 1 0.005

ZDDH0016 33 34 1 0.005

ZDDH0016 34 35 1 0.005

ZDDH0016 35 36 1 0.005

ZDDH0016 36 37 1 0.005

ZDDH0016 37 38 1 0.01

ZDDH0016 37 38 1 0.005

ZDDH0016 38 38.55 0.55 0.005

ZDDH0016 38.55 39 0.45 0.07

ZDDH0016 39 40 1 0.01

ZDDH0016 40 41 1 0.005

ZDDH0016 41 42 1 0.01

ZDDH0016 42 43 1 0.005

ZDDH0016 42 43 1 0.005

ZDDH0016 42 43 1 2.96

ZDDH0016 43 44 1 0.005

ZDDH0016 44 45 1 0.005

ZDDH0016 45 46 1 0.03

ZDDH0016 46 47 1 0.01

ZDDH0016 47 47.4 0.4 0.005

ZDDH0016 47.4 48 0.6 0.005

ZDDH0016 48 48.6 0.6 0.005

ZDDH0016 48 48.6 0.6 0.74

ZDDH0016 48.6 49.3 0.7 0.01

ZDDH0016 49.3 50 0.7 0.01

ZDDH0016 50 51 1 0.005

ZDDH0016 51 52 1 0.005

ZDDH0016 52 53 1 0.005



Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0016 53 54 1 0.005

ZDDH0016 54 54.8 0.8 0.005

ZDDH0016 54 54.8 0.8 0.005

ZDDH0016 54.8 55.6 0.8 0.005

ZDDH0016 55.6 56 0.4 0.005

ZDDH0016 55.6 56 0.4 0.005

ZDDH0016 56 57 1 0.005

ZDDH0016 57 58 1 0.005

ZDDH0016 58 59 1 0.005

ZDDH0016 59 59.6 0.6 0.01

ZDDH0016 59 59.6 0.6 0.01

ZDDH0016 59.6 60.1 0.5 0.005

ZDDH0016 60.1 61 0.9 0.005

ZDDH0016 61 61.5 0.5 0.005

ZDDH0016 61.5 62 0.5 0.005

ZDDH0016 62 63 1 0.005

ZDDH0016 63 64 1 0.12

ZDDH0016 64 65 1 0.01

ZDDH0016 64 65 1 1.52

ZDDH0016 65 66 1 0.01

ZDDH0016 66 67 1 0.005

ZDDH0016 67 68 1 0.005

ZDDH0016 68 68.4 0.4 0.005

ZDDH0016 68.4 69 0.6 0.005

ZDDH0016 69 70 1 0.05

ZDDH0016 69 70 1 0.02

ZDDH0016 69 70 1 0.005

ZDDH0016 70 70.7 0.7 0.79

ZDDH0016 70.7 71.3 0.6 0.01

ZDDH0016 71.3 72 0.7 0.005

ZDDH0016 72 73 1 0.005

ZDDH0016 73 74 1 0.005

ZDDH0016 74 74.5 0.5 0.01

ZDDH0016 74.5 75.05 0.55 0.01

ZDDH0016 74.5 75.05 0.55 8.47

ZDDH0016 75.05 75.6 0.55 0.005

ZDDH0016 75.6 76.13 0.53 0.005

ZDDH0016 76.13 77 0.87 0.03

ZDDH0016 77 78 1 0.01

ZDDH0016 78 79 1 0.06

ZDDH0016 79 79.6 0.6 0.23

ZDDH0016 79.6 80 0.4 0.95

ZDDH0016 79.6 80 0.4 2.92

ZDDH0016 80 80.6 0.6 0.01

ZDDH0016 80.6 81 0.4 0.005

ZDDH0016 80.6 81 0.4 0.005

ZDDH0016 81 82 1 0.35

ZDDH0016 82 83 1 0.01

ZDDH0016 83 84 1 0.58

ZDDH0016 84 85 1 0.005

Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0016 84 85 1 0.005

ZDDH0016 85 86 1 0.01

ZDDH0016 86 86.64 0.64 0.19

ZDDH0016 86.64 87 0.36 0.01

ZDDH0016 87 88 1 0.01

ZDDH0016 88 88.4 0.4 0.005

ZDDH0016 88.4 88.8 0.4 0.01

ZDDH0016 88.8 89.4 0.6 0.005

ZDDH0016 88.8 89.4 0.6 0.74

ZDDH0016 89.4 90 0.6 0.39

ZDDH0016 90 91 1 0.005

ZDDH0016 91 92 1 0.01

ZDDH0016 92 92.5 0.5 0.01

ZDDH0016 92.5 92.9 0.4 0.005

ZDDH0016 92.9 93.5 0.6 0.01

ZDDH0016 92.9 93.5 0.6 0.01

ZDDH0016 92.9 93.5 0.6 0.005

ZDDH0016 93.5 94 0.5 0.005

ZDDH0016 94 95 1 0.005

ZDDH0016 117 118 1 0.005

ZDDH0016 118 119 1 0.23

ZDDH0016 119 120 1 0.01

ZDDH0016 120 121 1 0.01

ZDDH0016 121 121.6 0.6 0.005

ZDDH0016 121 121.6 0.6 0.005

ZDDH0016 121.6 122.3 0.7 0.005

ZDDH0016 122.3 123 0.7 0.005

ZDDH0016 123 124 1 0.005

ZDDH0016 124 125 1 0.03

ZDDH0016 125 126 1 1.16

ZDDH0016 126 126.75 0.75 2.08

ZDDH0016 126.75 127.4 0.65 1.56

ZDDH0016 126.75 127.4 0.65 1.55

ZDDH0016 127.4 128 0.6 0.22

ZDDH0016 128 129 1 0.94

ZDDH0016 128 129 1 0.03

ZDDH0016 129 130 1 4.67

ZDDH0016 130 131 1 0.09

ZDDH0016 131 131.72 0.72 0.45

ZDDH0016 131.72 132.4 0.68 0.11

ZDDH0016 131.72 132.4 0.68 8.71

ZDDH0016 132.4 133 0.6 0.04

ZDDH0016 133 134 1 0.005

ZDDH0016 134 135 1 0.22

ZDDH0016 135 136 1 0.07

ZDDH0016 136 137 1 0.005

ZDDH0016 137 138 1 0.005

ZDDH0016 138 139 1 0.005

ZDDH0016 139 140 1 0.01

ZDDH0016 140 141 1 0.01



Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0016 141 141.88 0.88 0.005

ZDDH0016 141.88 142.52 0.64 0.01

ZDDH0016 142.52 143 0.48 0.07

ZDDH0016 143 144 1 0.24

ZDDH0016 143 144 1 0.005

ZDDH0016 144 145 1 1.59

ZDDH0016 145 145.6 0.6 0.09

ZDDH0016 145.6 146.3 0.7 0.08

ZDDH0016 146.3 147 0.7 0.04

ZDDH0016 147 148 1 0.1

ZDDH0016 148 149 1 0.03

ZDDH0016 148 149 1 0.02

ZDDH0016 148 149 1 3

ZDDH0016 149 150 1 0.09

ZDDH0016 150 151 1 0.26

ZDDH0016 151 152 1 0.01

ZDDH0016 152 153 1 0.61

ZDDH0016 153 153.5 0.5 1.45

ZDDH0016 153.5 154 0.5 0.02

ZDDH0016 154 155 1 0.21

ZDDH0016 154 155 1 0.74

ZDDH0016 155 155.8 0.8 0.03

ZDDH0016 155.8 156.4 0.6 0.01

ZDDH0016 156.4 157 0.6 0.09

ZDDH0016 157 158 1 0.71

ZDDH0016 158 159 1 0.46

ZDDH0016 159 160 1 0.14

ZDDH0016 160 161 1 0.37

ZDDH0016 160 161 1 0.005

ZDDH0016 161 162 1 0.33

ZDDH0016 162 163 1 0.42

ZDDH0016 162 163 1 0.63

ZDDH0016 163 163.75 0.75 0.19

ZDDH0016 163.75 164.4 0.65 0.2

ZDDH0016 164.4 165 0.6 0.13

ZDDH0016 165 165.6 0.6 0.22

ZDDH0016 165 165.6 0.6 0.005

ZDDH0016 165.6 166.2 0.6 0.3

ZDDH0016 166.2 167.2 1 0.15

ZDDH0016 167.2 168 0.8 0.15

ZDDH0016 168 168.7 0.7 0.32

ZDDH0016 168.7 169.5 0.8 0.24

ZDDH0016 169.5 170 0.5 0.07

ZDDH0016 170 170.5 0.5 0.09

ZDDH0016 170 170.5 0.5 1.58

ZDDH0016 170.5 171.1 0.6 0.02

ZDDH0016 171.1 171.8 0.7 0.43

ZDDH0016 171.8 172.5 0.7 0.84

ZDDH0016 172.5 173 0.5 0.01

ZDDH0016 173 173.7 0.7 1.08

Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0016 173.7 174.5 0.8 0.31

ZDDH0016 173.7 174.5 0.8 0.35

ZDDH0016 173.7 174.5 0.8 0.005

ZDDH0016 174.5 175 0.5 0.08

ZDDH0016 175 175.35 0.35 0.12

ZDDH0016 175.35 176 0.65 0.29

ZDDH0016 176 176.75 0.75 0.01

ZDDH0016 176.75 177.1 0.35 0.14

ZDDH0016 177.1 178 0.9 0.01

ZDDH0016 178 178.5 0.5 0.29

ZDDH0016 178 178.5 0.5 8.6

ZDDH0016 178.5 179 0.5 0.13

ZDDH0016 179 180 1 0.17

ZDDH0016 180 180.3 0.3 1.23

ZDDH0016 180.3 181 0.7 0.02

ZDDH0016 181 182 1 0.01

ZDDH0016 182 183 1 0.01

ZDDH0016 183 183.6 0.6 0.03

ZDDH0016 183 183.6 0.6 2.92

ZDDH0016 183.6 184.2 0.6 0.01

ZDDH0016 184.2 184.5 0.3 0.41

ZDDH0016 184.2 184.5 0.3 0.48

ZDDH0016 184.5 185 0.5 0.01

ZDDH0016 185 186 1 0.03

ZDDH0016 186 186.6 0.6 0.04

ZDDH0016 186.6 187.2 0.6 0.01

ZDDH0016 186.6 187.2 0.6 0.005

ZDDH0016 187.2 187.8 0.6 0.08

ZDDH0016 187.8 188.1 0.3 0.14

ZDDH0016 188.1 188.58 0.48 1.06

ZDDH0016 188.58 188.9 0.32 31.3

ZDDH0016 188.9 189.4 0.5 0.09

ZDDH0016 189.4 189.7 0.3 1.81

ZDDH0016 189.7 190.4 0.7 0.04

ZDDH0016 189.7 190.4 0.7 0.75

ZDDH0016 190.4 191 0.6 0.11

ZDDH0016 191 191.3 0.3 0.64

ZDDH0016 191.3 191.7 0.4 0.86

ZDDH0016 191.7 192.3 0.6 0.17

ZDDH0016 192.3 193 0.7 8.12

ZDDH0016 193 194 1 1.92

ZDDH0016 193 194 1 1.43

ZDDH0016 193 194 1 0.005

ZDDH0016 194 195 1 0.04

ZDDH0016 195 195.7 0.7 0.35

ZDDH0016 195.7 196 0.3 0.89

ZDDH0016 196 197 1 0.01

ZDDH0016 197 198 1 0.04

ZDDH0016 198 198.45 0.45 0.5

ZDDH0016 198.45 199 0.55 0.06



Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0016 198.45 199 0.55 0.005

ZDDH0016 199 199.4 0.4 0.03

ZDDH0016 199.4 200 0.6 0.01

ZDDH0016 200 201 1 0.01

ZDDH0016 201 201.5 0.5 0.02

ZDDH0016 201.5 202 0.5 0.53

ZDDH0016 202 203 1 0.03

ZDDH0016 203 203.6 0.6 0.01

ZDDH0016 203 203.6 0.6 1.57

ZDDH0016 203.6 204 0.4 5.77

ZDDH0016 204 204.6 0.6 1.15

ZDDH0016 204 204.6 0.6 0.43

ZDDH0016 204.6 205.3 0.7 0.02

ZDDH0016 205.3 206 0.7 0.01

ZDDH0016 206 207 1 0.005

ZDDH0016 207 207.5 0.5 0.005

ZDDH0016 207 207.5 0.5 8.44

ZDDH0016 207.5 208.4 0.9 0.005

ZDDH0016 208.4 209.1 0.7 0.005

ZDDH0016 209.1 209.83 0.73 0.005

ZDDH0016 209.83 210.6 0.77 0.005

ZDDH0016 210.6 211.45 0.85 0.005

ZDDH0016 211.45 212 0.55 0.01

ZDDH0016 212 213 1 0.01

ZDDH0016 212 213 1 0.005

ZDDH0016 213 214 1 0.01

ZDDH0016 214 214.8 0.8 0.005

ZDDH0016 214.8 215.4 0.6 0.01

ZDDH0016 215.4 216 0.6 0.01

ZDDH0016 216 216.89 0.89 0.01

ZDDH0016 216.89 217.87 0.98 0.01

ZDDH0016 216.89 217.87 0.98 0.01

ZDDH0016 216.89 217.87 0.98 2.94

ZDDH0016 217.87 218.4 0.53 0.05

ZDDH0016 218.4 219 0.6 0.005

ZDDH0016 219 220 1 0.005

ZDDH0016 220 220.5 0.5 0.01

ZDDH0016 220.5 221.05 0.55 0.005

ZDDH0016 221.05 222 0.95 0.01

ZDDH0016 222 223 1 0.01

ZDDH0016 222 223 1 0.73

ZDDH0016 223 224 1 0.01

ZDDH0016 224 225 1 0.01

ZDDH0016 225 225.5 0.5 0.03

ZDDH0016 225.5 226.2 0.7 0.005

ZDDH0016 226.2 227 0.8 0.03

ZDDH0016 227 228 1 0.005

ZDDH0016 228 229 1 0.005

ZDDH0016 228 229 1 0.005

ZDDH0016 229 230 1 0.005

Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0016 240 241 1 0.01

ZDDH0016 240 241 1 0.005

ZDDH0016 241 242 1 0.005

ZDDH0016 242 243 1 0.005

ZDDH0016 243 244 1 0.005

ZDDH0016 244 245 1 0.005

ZDDH0016 244 245 1 0.005

ZDDH0016 245 246 1 0.005

ZDDH0016 246 247 1 0.01

ZDDH0016 247 248 1 0.005

ZDDH0016 248 249 1 0.005

ZDDH0016 249 250 1 0.005

ZDDH0016 250 251 1 0.005

ZDDH0016 251 252 1 0.005

ZDDH0016 251 252 1 1.53

ZDDH0016 252 253 1 0.005

ZDDH0016 253 254 1 0.005

ZDDH0016 254 255 1 0.005

ZDDH0016 255 256 1 0.01

ZDDH0016 256 256.6 0.6 0.005

ZDDH0016 256.6 257.2 0.6 0.03

ZDDH0016 256.6 257.2 0.6 0.02

ZDDH0016 256.6 257.2 0.6 0.005

ZDDH0016 257.2 257.6 0.4 0.02

ZDDH0016 257.6 258.3 0.7 0.005

ZDDH0016 258.3 258.8 0.5 0.005

ZDDH0016 258.8 259.4 0.6 0.005

ZDDH0016 259.4 260 0.6 0.01

ZDDH0016 260 260.8 0.8 0.03

ZDDH0016 260.8 261.4 0.6 0.005

ZDDH0016 260.8 261.4 0.6 8.57

ZDDH0016 261.4 262 0.6 0.02

ZDDH0016 262 263 1 0.02

ZDDH0016 263 264 1 0.01

ZDDH0016 264 265 1 0.04

ZDDH0016 265 266 1 0.005

ZDDH0016 266 267 1 0.005

ZDDH0016 267 268 1 0.01

ZDDH0016 267 268 1 3.03

ZDDH0016 268 269 1 0.01

ZDDH0016 269 270 1 0.005

ZDDH0016 269 270 1 0.005

ZDDH0016 270 270.8 0.8 0.005

ZDDH0016 270.8 271.7 0.9 0.005

ZDDH0016 271.7 272.4 0.7 0.005

ZDDH0016 272.4 273 0.6 0.06

ZDDH0016 272.4 273 0.6 0.005

ZDDH0016 273 273.5 0.5 0.005

ZDDH0016 273.5 274 0.5 0.005

ZDDH0016 274 275 1 0.005



Hole From (m)

To (m) Interval Au

(g/t)

ZDDH0016 275 276 1 0.01

ZDDH0016 276 276.7 0.7 0.01

ZDDH0016 276.7 277.5 0.8 0.03

ZDDH0016 277.5 278.12 0.62 0.03

ZDDH0016 277.5 278.12 0.62 0.74

ZDDH0016 278.12 279 0.88 0.005

ZDDH0016 279 280 1 0.005

ZDDH0016 280 281 1 0.01

ZDDH0016 281 282 1 1.02

ZDDH0016 282 283 1 0.01

ZDDH0016 283 284 1 0.01

ZDDH0016 283 284 1 0.005

ZDDH0016 283 284 1 0.005

ZDDH0016 284 285 1 0.005

ZDDH0016 285 285.7 0.7 0.03

ZDDH0016 285.7 286.3 0.6 0.1

ZDDH0016 286.3 286.97 0.67 0.19

ZDDH0016 286.97 287.5 0.53 0.11

ZDDH0016 287.5 288 0.5 0.29

ZDDH0016 288 289 1 1.12

ZDDH0016 288 289 1 0.005

ZDDH0016 289 290 1 0.65

ZDDH0016 290 290.5 0.5 0.05

ZDDH0016 290.5 291.12 0.62 0.1

ZDDH0016 291.12 292 0.88 0.005

ZDDH0016 292 293 1 0.005

ZDDH0016 293 294 1 0.005

ZDDH0016 294 295 1 0.005

ZDDH0016 294 295 1 1.53

ZDDH0016 295 296 1 0.005

ZDDH0016 296 296.5 0.5 0.06

ZDDH0016 296 296.5 0.5 0.04

ZDDH0016 296.5 297.5 1 0.005

ZDDH0016 297.5 298 0.5 0.005

ZDDH0016 298 299 1 0.005

ZDDH0016 299 300 1 0.005

ZDDH0016 299 300 1 8.49

ZDDH0016 300 300.5 0.5 0.005

ZDDH0016 300.5 301.2 0.7 0.005

ZDDH0016 301.2 301.8 0.6 0.005

ZDDH0016 301.8 302.5 0.7 0.005


azimuth Instrument

ZDDH0001 0 -59.26 12.5 Reflex

ZDDH0001 6 -59.31 12.55 Reflex

ZDDH0001 12 -59.42 12.65 Reflex

ZDDH0001 18 -59.47 12.7 Reflex

ZDDH0001 24 -59.41 12.85 Reflex

ZDDH0001 30 -59.31 13.15 Reflex

ZDDH0001 36 -59.25 13.3 Reflex

ZDDH0001 42 -59.18 13.7 Reflex

ZDDH0001 48 -59.03 14.48 Reflex

ZDDH0001 54 -58.95 14.87 Reflex

ZDDH0001 60 -58.86 15.11 Reflex

ZDDH0001 66 -58.67 15.59 Reflex

ZDDH0001 72 -58.57 15.83 Reflex

ZDDH0001 78 -58.46 16.14 Reflex

ZDDH0001 84 -58.25 16.77 Reflex

ZDDH0001 90 -58.14 17.08 Reflex

ZDDH0001 96 -57.99 17.27 Reflex

ZDDH0001 102 -57.69 17.65 Reflex

ZDDH0001 108 -57.55 17.84 Reflex

ZDDH0001 114 -57.39 18.15 Reflex

ZDDH0001 120 -57.07 18.77 Reflex

ZDDH0001 126 -56.92 19.08 Reflex

ZDDH0001 132 -56.71 19.27 Reflex

ZDDH0001 138 -56.51 19.61 Reflex

ZDDH0001 141.9 -56.36 19.87 Reflex

ZDDH0002 0 -60.6 12.5 Reflex

ZDDH0002 6 -60.63 12.48 Reflex

ZDDH0002 12 -60.43 12.8 Reflex

ZDDH0002 18 -60.36 12.97 Reflex

ZDDH0002 24 -60.48 13.24 Reflex

ZDDH0002 30 -60.4 13.4 Reflex

ZDDH0002 36 -60.18 13.47 Reflex

ZDDH0002 42 -60.03 13.63 Reflex

ZDDH0002 48 -59.84 13.85 Reflex

ZDDH0002 54 -59.66 14.06 Reflex

ZDDH0002 60 -59.51 14.46 Reflex

ZDDH0002 66 -59.4 14.59 Reflex

ZDDH0002 72 -59.31 14.95 Reflex

ZDDH0002 78 -59.11 15.25 Reflex

ZDDH0002 84 -58.98 15.45 Reflex

ZDDH0002 89.4 -58.87 15.57 Reflex

ZDDH0003 0 -60.1 320.59 Reflex

ZDDH0003 10 -60.14 320.4 Reflex

ZDDH0003 20 -60.18 320.21 Reflex

ZDDH0003 30 -60.17 320.16 Reflex

ZDDH0003 40 -60.12 320.26 Reflex

ZDDH0003 50 -60.07 320.36 Reflex

ZDDH0003 60 -60.06 320.3 Reflex

ZDDH0003 70 -60.05 320.23 Reflex




azimuth Instrument

ZDDH0003 80 -60.05 320.02 Reflex

ZDDH0003 90 -60.05 319.65 Reflex

ZDDH0003 100 -60.05 319.29 Reflex

ZDDH0004 0 -61.6 12 Gyro

ZDDH0004 10 -62.18 11.86 Gyro

ZDDH0004 20 -62.06 11.89 Gyro

ZDDH0004 30 -61.96 11.86 Gyro

ZDDH0004 40 -61.7 12.12 Gyro

ZDDH0004 50 -61.51 12.55 Gyro

ZDDH0004 60 -61.52 13.02 Gyro

ZDDH0004 70 -61.51 13.44 Gyro

ZDDH0004 80 -61.45 13.67 Gyro

ZDDH0004 90 -61.34 13.84 Gyro

ZDDH0004 100 -61.22 14.41 Gyro

ZDDH0004 110 -61 14.36 Gyro

ZDDH0005 0 -59.02 12.14 Gyro

ZDDH0005 10 -59.35 12.2 Gyro

ZDDH0005 20 -59.68 12.27 Gyro

ZDDH0005 30 -59.84 12.64 Gyro

ZDDH0005 40 -59.85 13.31 Gyro

ZDDH0005 50 -59.86 13.98 Gyro

ZDDH0005 60 -60.13 13.74 Gyro

ZDDH0005 70 -60.4 13.49 Gyro

ZDDH0005 80 -60.48 13.29 Gyro

ZDDH0005 90 -60.37 13.13 Gyro

ZDDH0005 100 -60.27 12.97 Gyro

ZDDH0005 110 -60.39 11.72 Gyro

ZDDH0005 120 -60.5 10.47 Gyro

ZDDH0005 130 -60.61 11.45 Gyro

ZDDH0005 140 -60.72 12.68 Gyro

ZDDH0006 0 -59.39 7.46 Gyro

ZDDH0006 10 -59.35 7.45 Gyro

ZDDH0006 20 -59.32 7.44 Gyro

ZDDH0006 30 -59.33 7.84 Gyro

ZDDH0006 40 -59.38 8.65 Gyro

ZDDH0006 50 -59.44 9.46 Gyro

ZDDH0006 60 -59.31 9.36 Gyro

ZDDH0006 70 -59.18 9.26 Gyro

ZDDH0006 80 -59.04 9.45 Gyro

ZDDH0006 90 -58.89 9.92 Gyro

ZDDH0006 100 -58.74 10.39 Gyro

ZDDH0006 110 -58.74 10.71 Gyro

ZDDH0006 120 -58.75 11.04 Gyro

ZDDH0006 130 -58.72 11.26 Gyro

ZDDH0006 140 -58.65 11.39 Gyro

ZDDH0006 150 -58.59 11.52 Gyro

ZDDH0006 160 -58.53 11.96 Gyro

ZDDH0006 170 -58.47 12.4 Gyro

ZDDH0006 180 -58.41 12.54 Gyro

ZDDH0006 190 -58.36 12.38 Gyro


azimuth Instrument

ZDDH0006 200 -58.31 12.22 Gyro

ZDDH0006 210 -58.4 12.13 Gyro

ZDDH0006 220 -58.49 12.04 Gyro

ZDDH0006 230 -58.51 11.87 Gyro

ZDDH0006 240 -58.46 11.64 Gyro

ZDDH0007 0 -59.91 21.96 Gyro

ZDDH0007 10 -60 21.88 Gyro

ZDDH0007 20 -60.09 21.81 Gyro

ZDDH0007 30 -60.1 21.9 Gyro

ZDDH0007 40 -60.03 22.17 Gyro

ZDDH0007 50 -59.97 22.44 Gyro

ZDDH0007 60 -60.03 22.16 Gyro

ZDDH0007 70 -60.09 21.88 Gyro

ZDDH0007 80 -60.02 21.87 Gyro

ZDDH0007 90 -59.82 22.12 Gyro

ZDDH0007 100 -59.62 22.38 Gyro

ZDDH0007 110 -59.32 22.32 Gyro

ZDDH0007 120 -59.03 22.26 Gyro

ZDDH0007 130 -58.83 22.25 Gyro

ZDDH0007 140 -58.72 22.28 Gyro

ZDDH0007 150 -58.62 22.31 Gyro

ZDDH0008 0 -58.97 20.84 Gyro

ZDDH0008 10 -58.88 21.22 Gyro

ZDDH0008 20 -58.79 21.6 Gyro

ZDDH0008 30 -58.71 22.03 Gyro

ZDDH0008 40 -58.64 22.5 Gyro

ZDDH0008 50 -58.58 22.98 Gyro

ZDDH0008 60 -58.61 23.72 Gyro

ZDDH0008 70 -58.64 24.45 Gyro

ZDDH0008 80 -58.58 24.89 Gyro

ZDDH0008 90 -58.43 25.04 Gyro

ZDDH0008 100 -58.28 25.19 Gyro

ZDDH0008 110 -58.19 25.49 Gyro

ZDDH0008 120 -58.1 25.78 Gyro

ZDDH0009 0 -60.12 20 Gyro

ZDDH0009 10 -59.68 20.22 Gyro

ZDDH0009 20 -59.56 20.42 Gyro

ZDDH0009 30 -59.24 20.87 Gyro

ZDDH0009 40 -59.06 21.53 Gyro

ZDDH0009 50 -58.85 22 Gyro

ZDDH0009 60 -58.8 22.08 Gyro

ZDDH0009 70 -58.84 22.61 Gyro

ZDDH0009 80 -58.95 22.9 Gyro

ZDDH0009 90 -59.07 23.17 Gyro

ZDDH0009 100 -58.81 23.48 Gyro

ZDDH0009 110 -59.73 23.56 Gyro

ZDDH0010 0 -63.23 12.5 Gyro

ZDDH0010 10 -63.11 12.89 Gyro

ZDDH0010 20 -62.82 13.31 Gyro

ZDDH0010 30 -62.74 13.52 Gyro




azimuth Instrument

ZDDH0010 40 -62.89 13.49 Gyro

ZDDH0010 50 -63.06 13.64 Gyro

ZDDH0010 60 -63.19 14.13 Gyro

ZDDH0010 70 -63.33 14.5 Gyro

ZDDH0010 80 -63.44 14.57 Gyro

ZDDH0010 90 -63.52 14.57 Gyro

ZDDH0010 100 -63.61 14.75 Gyro

ZDDH0010 110 -63.7 15 Gyro

ZDDH0010 120 -63.88 15.14 Gyro

ZDDH0010 130 -63.98 15.47 Gyro

ZDDH0010 140 -64.05 15.64 Gyro

ZDDH0010 150 -64.22 15.47 Gyro

ZDDH0010 160 -64.19 15.31 Gyro

ZDDH0011 0 -58.94 129.78 Gyro

ZDDH0011 10 -59.29 129.37 Gyro

ZDDH0011 20 -59.32 129.18 Gyro

ZDDH0011 30 -59.34 129.5 Gyro

ZDDH0011 40 -59.27 129.7 Gyro

ZDDH0011 50 -59.31 130.09 Gyro

ZDDH0011 60 -59.44 130.42 Gyro

ZDDH0011 70 -59.43 130.65 Gyro

ZDDH0011 80 -59.53 130.8 Gyro

ZDDH0011 90 -59.61 131.19 Gyro

ZDDH0011 100 -59.65 131.72 Gyro

ZDDH0011 110 -59.64 131.81 Gyro

ZDDH0011 120 -59.75 132.13 Gyro

ZDDH0011 130 -59.83 132.53 Gyro

ZDDH0011 140 -59.93 132.98 Gyro

ZDDH0011 150 -59.95 133.36 Gyro

ZDDH0011 160 -60.06 133.65 Gyro

ZDDH0011 170 -60.12 133.93 Gyro

ZDDH0011 180 -60.18 134.24 Gyro

ZDDH0011 190 -60.17 134.28 Gyro

ZDDH0011 200 -60.25 134.65 Gyro

ZDDH0011 210 -60.29 134.91 Gyro

ZDDH0011 220 -60.32 135.39 Gyro

ZDDH0011 230 -60.39 135.82 Gyro

ZDDH0011 240 -60.44 136.2 Gyro

ZDDH0011 250 -60.56 136.39 Gyro

ZDDH0011 260 -60.59 136.53 Gyro

ZDDH0011 270 -60.68 136.84 Gyro

ZDDH0011 280 -60.74 137.04 Gyro

ZDDH0011 290 -60.7 137.25 Gyro

ZDDH0011 300 -60.78 137.4 Gyro

ZDDH0012 0 -59.01 12 Gyro

ZDDH0012 10 -59.02 12.14 Gyro

ZDDH0012 20 -59.03 12.12 Gyro

ZDDH0012 30 -59 12.27 Gyro

ZDDH0012 40 -58.78 12.38 Gyro

ZDDH0012 50 -58.68 12.53 Gyro


azimuth Instrument

ZDDH0012 60 -58.62 12.65 Gyro

ZDDH0012 70 -58.79 12.45 Gyro

ZDDH0012 80 -58.88 12.63 Gyro

ZDDH0012 90 -58.99 12.71 Gyro

ZDDH0012 100 -58.68 12.74 Gyro

ZDDH0012 110 -58.53 12.98 Gyro

ZDDH0012 120 -58.3 13.11 Gyro

ZDDH0012 130 -58.44 13.17 Gyro

ZDDH0012 140 -58.38 13.12 Gyro

ZDDH0012 150 -58.5 13.19 Gyro

ZDDH0012 160 -58.58 13.34 Gyro

ZDDH0012 170 -58.64 13.72 Gyro

ZDDH0012 180 -58.6 13.99 Gyro

ZDDH0012 190 -58.55 14.15 Gyro

ZDDH0013 0 -59.29 12 Gyro

ZDDH0013 10 -59.64 12.19 Gyro

ZDDH0013 20 -59.52 12.22 Gyro

ZDDH0013 30 -59.27 12.4 Gyro

ZDDH0013 40 -59.02 12.07 Gyro

ZDDH0013 50 -58.85 12.22 Gyro

ZDDH0013 60 -58.48 12.21 Gyro

ZDDH0013 70 -58.22 12.34 Gyro

ZDDH0013 80 -57.92 12.52 Gyro

ZDDH0013 90 -57.62 12.44 Gyro

ZDDH0013 100 -57.25 12.23 Gyro

ZDDH0013 110 -56.94 12.33 Gyro

ZDDH0013 120 -56.66 12.45 Gyro

ZDDH0013 130 -56.4 12.49 Gyro

ZDDH0013 140 -56.14 12.56 Gyro

ZDDH0013 150 -55.84 12.33 Gyro

ZDDH0013 160 -55.44 12.24 Gyro

ZDDH0013 170 -55.08 12.44 Gyro

ZDDH0013 180 -54.79 12.52 Gyro

ZDDH0013 190 -54.66 12.84 Gyro

ZDDH0013 200 -54.49 12.95 Gyro

ZDDH0013 210 -54.21 13.39 Gyro

ZDDH0013 220 -53.96 13.68 Gyro

ZDDH0013 230 -53.85 13.93 Gyro

ZDDH0013 240 -53.71 14.02 Gyro

ZDDH0013 245 -53.57 14.12 Gyro

ZDDH0014 0 -59.84 10.47 Gyro

ZDDH0014 10 -59.99 10.55 Gyro

ZDDH0014 20 -59.81 10.63 Gyro

ZDDH0014 30 -59.6 10.83 Gyro

ZDDH0014 40 -59.52 10.87 Gyro

ZDDH0014 50 -59.45 10.91 Gyro

ZDDH0014 60 -59.38 10.79 Gyro

ZDDH0014 70 -59.3 10.68 Gyro

ZDDH0014 80 -59.43 10.63 Gyro

ZDDH0014 90 -59.4 10.55 Gyro




azimuth Instrument

ZDDH0014 100 -59.49 10.49 Gyro

ZDDH0014 110 -59.57 10.4 Gyro

ZDDH0014 120 -59.44 10.32 Gyro

ZDDH0014 130 -59.36 10.26 Gyro

ZDDH0014 140 -59.29 10.2 Gyro

ZDDH0014 150 -59.21 10.11 Gyro

ZDDH0014 160 -59.15 10.15 Gyro

ZDDH0014 170 -59.02 10.21 Gyro

ZDDH0014 180 -58.96 10.35 Gyro

ZDDH0014 190 -58.87 10.46 Gyro

ZDDH0014 200 -58.74 10.55 Gyro

ZDDH0014 210 -58.48 10.63 Gyro

ZDDH0014 220 -58.14 10.72 Gyro

ZDDH0014 230 -58 10.82 Gyro

ZDDH0014 240 -57.77 10.99 Gyro

ZDDH0014 250 -57.6 11.17 Gyro

ZDDH0014 260 -57.45 11.32 Gyro

ZDDH0014 270 -57.4 11.4 Gyro

ZDDH0014 280 -57.34 11.59 Gyro

ZDDH0014 290 -57.04 11.77 Gyro

ZDDH0014 300 -56.88 11.89 Gyro

ZDDH0015 0 -59.42 150 Gyro

ZDDH0015 10 -58.82 148.62 Gyro

ZDDH0015 20 -58.69 149.45 Gyro

ZDDH0015 30 -58.28 149.52 Gyro

ZDDH0015 40 -57.91 149.77 Gyro

ZDDH0015 50 -57.65 149.85 Gyro

ZDDH0015 60 -57.32 150.06 Gyro

ZDDH0015 70 -57.02 150.41 Gyro

ZDDH0015 80 -56.71 150.78 Gyro

ZDDH0015 90 -56.43 151.04 Gyro

ZDDH0015 100 -55.97 151.14 Gyro

ZDDH0015 110 -55.66 151.1 Gyro

ZDDH0015 120 -55.34 151.29 Gyro

ZDDH0015 130 -54.99 151.4 Gyro

ZDDH0015 140 -54.74 151.83 Gyro

ZDDH0015 150 -54.43 152.03 Gyro

ZDDH0015 160 -54.02 152.15 Gyro

ZDDH0015 170 -53.7 152.24 Gyro

ZDDH0015 180 -53.31 152.39 Gyro

ZDDH0015 190 -52.94 152.48 Gyro

ZDDH0015 200 -52.55 152.51 Gyro

ZDDH0015 210 -52.25 152.66 Gyro

ZDDH0015 220 -51.81 152.81 Gyro

ZDDH0015 230 -51.48 152.96 Gyro

ZDDH0015 240 -51.09 153.16 Gyro

ZDDH0015 250 -50.69 153.24 Gyro

ZDDH0015 260 -50.3 153.31 Gyro

ZDDH0015 270 -49.92 153.46 Gyro

ZDDH0015 280 -49.77 153.5 Gyro


azimuth Instrument

ZDDH0015 290 -49.56 153.54 Gyro

ZDDH0015 300 -49.4 153.54 Gyro

ZDDH0016 0 -58.29 11.52 Gyro

ZDDH0016 10 -58.21 12.09 Gyro

ZDDH0016 20 -58.12 12.41 Gyro

ZDDH0016 30 -57.38 12.55 Gyro

ZDDH0016 40 -57.26 12.53 Gyro

ZDDH0016 50 -57.24 12.47 Gyro

ZDDH0016 60 -57.29 12.41 Gyro

ZDDH0016 70 -57.38 12.39 Gyro

ZDDH0016 80 -57.46 12.24 Gyro

ZDDH0016 90 -57.56 12.08 Gyro

ZDDH0016 100 -57.63 11.84 Gyro

ZDDH0016 110 -57.64 11.72 Gyro

ZDDH0016 120 -57.67 11.59 Gyro

ZDDH0016 130 -57.81 11.54 Gyro

ZDDH0016 140 -57.86 11.48 Gyro

ZDDH0016 150 -57.92 11.57 Gyro

ZDDH0016 160 -57.92 11.78 Gyro

ZDDH0016 170 -57.97 11.89 Gyro

ZDDH0016 180 -58.01 12.14 Gyro

ZDDH0016 190 -58.04 12.26 Gyro

ZDDH0016 200 -58.16 12.36 Gyro

ZDDH0016 210 -58.23 12.46 Gyro

ZDDH0016 220 -58.26 12.5 Gyro

ZDDH0016 230 -58.23 12.55 Gyro

ZDDH0016 240 -58.2 12.63 Gyro

ZDDH0016 250 -58.24 12.69 Gyro

ZDDH0016 260 -58.29 12.76 Gyro

ZDDH0016 270 -58.37 12.81 Gyro

ZDDH0016 280 -58.46 12.87 Gyro

ZDDH0016 290 -58.55 12.96 Gyro

ZDDH0016 300 -58.6 13.01 Gyro



Appendix 5: Tesoro Trenches Collars, Survey and Assays

Tesoro Trenches Collars

Hole ID WGS84 Northing WGS84 Easting WGS84 RL Maximum length Hole type

TR01_DRONE_A 7036280.613 341257.9997 628 51 CH

TR01_SLB_A 7034066.672 341902.9843 572 48 CH

TR01_TOROBL_A 7037123.591 342088.977 818 161.7 CH

TR01_TOROBL_B 7037011.594 342007.9792 762 109.5 CH

TR01N_COQ_A 7036309.613 341819.9847 702 18.5 CH

TR01N_COQ_B 7036318.612 341791.9855 690 5 CH

TR01N_COQ_C 7036323.612 341790.9855 687 28.5 CH

TR01N_COQ_D 7036349.612 341815.9848 683 5 CH

TR01W_COQ_A 7036310.612 341245.9999 630 55 CH

TR01W_COQ_B 7036280.613 341301.9985 638 20 CH

TR02_DRONE_A 7036217.615 341267.9994 602 73.5 CH

TR02_SLB_A 7034111.671 341944.9832 602 68 CH

TR02_TOROBL_A 7037123.591 342000.9793 800 46.9 CH

TR02_TOROBL_B 7037122.591 342072.9774 802 25 CH

TR02N_COQ_A 7036315.613 341763.9862 668 21.6 CH

TR02N_COQ_B 7036342.612 341805.9851 678 11.5 CH

TR02W_COQ_A 7036370.611 341310.9982 666 40 CH

TR02W_COQ_B 7036333.612 341315.9981 653 45 CH

TR02W_COQ_C 7036295.613 341310.9982 642 20 CH

TR03_DRONE_A 7036356.611 341272.9992 655 29.5 CH

TR03_SLB_A 7034116.671 342027.9809 595 181 CH

TR03_TOROBL_A 7037029.594 342041.9783 786 39.3 CH

TR03N_COQ_A 7036343.612 341793.9854 680 4 CH

TR03N_COQ_B 7036338.612 341787.9856 679 28.7 CH

TR03N_COQ_C 7036307.613 341741.9868 670 84 CH

TR03W_COQ_A 7036268.613 341246 622 49.4 CH

TR03W_COQ_B 7036197.615 341230.0005 588 153 CH

TR03W_COQ_C 7036098.618 341072.0047 548 30.5 CH

TR04_DRONE_A 7036354.611 341240.0001 631 32 CH

TR04_SLB_A 7034168.67 341999.9817 613 21 CH

TR04_TOROBL_A 7036966.595 342048.9781 758 57.3 CH

TR04_TOROBL_B 7036942.596 341972.9802 754 24.5 CH

TR04N_COQ_A 7036360.611 341797.9853 678 3 CH

TR05_DRONE_A 7036329.612 341228.0004 622 9 CH

TR05_SLB_A 7034152.67 342013.9813 606 205 CH

TR05_TOROBL_A 7036888.597 341938.9811 747 20 CH

TR05_TOROBL_B 7036885.598 341980.98 734 38.5 CH

TR05N_COQ_A 7036347.612 341783.9857 672 25.8 CH

TR06_DRONE_A 7036318.612 341222.0006 618 15 CH

TR06_SLB_A 7033953.675 342069.98 595 5 CH




TR06_TOROBL_A 7036902.597 342034.9786 748 49 CH

TR06N_COQ_A 7036326.612 341753.9865 661 21.7 CH

TR07_DRONE_A 7036307.612 341214.0008 609 35.5 CH

TR07_SLB_A 7033937.676 342076.9798 605 15 CH

TR07_TOROBL_A 7036950.596 342066.9777 773 5 CH

TR07_TOROBL_B 7036950.596 342066.9777 770 103 CH

TR07N_COQ_A 7036310.613 341726.9872 659 13 CH

TR08_DRONE_A 7036261.613 341188.0015 595 59.5 CH

TR08_SLB_A 7033924.676 342079.9797 610 11 CH

TR08N_COQ_A 7036293.613 341707.9877 658 44.5 CH

TR09_DRONE_A 7036198.615 341221.0007 584 95 CH

TR09_SLB_A 7033911.676 342092.9794 614 6 CH

TR09N_COQ_A 7036396.61 341741.9867 665 10 CH

TR10_DRONE_A 7036191.615 341173.002 568 15.5 CH

TR10_SLB_A 7033896.677 342093.9794 616 5 CH

TR10N_COQ_A 7036354.611 341775.9859 661 65.7 CH

TR11_DRONE_A 7036168.616 341148.0027 555 5 CH

TR11_SLB_A 7033880.677 342098.9793 623 15.5 CH

TR11N_COQ_A 7036341.612 341834.9843 704 30 CH

TR12_DRONE_A 7036160.616 341140.0029 558 79 CH

TR12_SLB_A 7033853.678 342102.9792 637 3 CH

TR12N_COQ_A 7036335.612 341770.986 671 25.5 CH

TR13_DRONE_A 7036428.609 341224.0004 675 84 CH

TR13_SLB_A 7033847.678 342104.9791 640 5 CH

TR13N_COQ_A 7036320.612 341751.9865 662 34.5 CH

TR14_DRONE_A 7036372.611 341174.0018 628 72.5 CH

TR14_SLB_A 7033836.678 342112.9789 636 8.5 CH

TR14N_COQ_A 7036296.613 341790.9855 686 24 CH

TR15_DRONE_A 7036309.612 341127.0031 608 27 CH

TR15_SLB_A 7033819.679 342110.979 627 5 CH

TR15N_COQ_A 7036289.613 341769.9861 681 38 CH

TR16_DRONE_A 7036293.613 341093.004 601 79.5 CH

TR16_SLB_A 7033800.679 342119.9788 618 5 CH

TR16N_COQ_A 7036214.615 341751.9866 648 41.5 CH

TR17_DRONE_A 7036256.613 341023.0059 566 139 CH

TR17_SLB_A 7033790.68 342118.9788 612 5 CH

TR17N_COQ_A 7036252.614 341722.9873 649 61 CH

TR18_DRONE_A 7036144.617 341233.0004 585 40 CH

TR18_SLB_A 7033772.68 342113.9789 598 3 CH

TR18N_COQ_A 7036280.613 341771.986 678 19.5 CH

TR19_DRONE_A 7036133.617 341182.0018 580 13.5 CH

TR19_SLB_A 7033764.68 342121.9787 591 3 CH

TR19N_COQ_A 7036416.61 341848.9839 711 10 CH

TR20_DRONE_A 7036532.606 341049.005 636 3 CH

TR20_SLB_A 7033758.681 342134.9784 590 7.5 CH

TR20N_COQ_A 7036401.61 341838.9842 706 8 CH




TR21_DRONE_A 7036524.606 341046.0051 633 2 CH

TR21_SLB_A 7033745.681 342152.9779 583 1.5 CH

TR21N_COQ_A 7036347.612 341745.9867 654 12 CH

TR22_DRONE_A 7036505.607 341041.0052 624 2 CH

TR22_SLB_A 7033735.681 342162.9777 581 2.5 CH

TR22N_COQ_A 7036337.612 341731.987 651 43 CH

TR23_DRONE_A 7036497.607 341036.0054 616 2 CH

TR23_SLB_A 7033974.675 342168.9773 613 29 CH

TR24_DRONE_A 7036470.608 340987.0067 602 2 CH

TR24_SLB_A 7033942.676 342175.9772 639 1.5 CH

TR25_DRONE_A 7036443.608 340965.0073 594 3 CH

TR25_SLB_A 7033938.676 342174.9772 640 3 CH

TR26_DRONE_A 7036437.609 340955.0076 590 2 CH

TR26_SLB_A 7033923.676 342189.9768 646 2 CH

TR27_DRONE_A 7036446.608 340951.0077 589 3 CH

TR27_SLB_A 7033891.677 342189.9768 652 3 CH

TR28_DRONE_A 7036430.609 340944.0079 587 6 CH

TR28_SLB_A 7033874.678 342189.9768 653 1.5 CH

TR29_DRONE_A 7036406.609 340944.0079 582 3 CH

TR29_SLB_A 7033858.678 342195.9767 657 2 CH

TR30_DRONE_A 7036410.609 340940.008 581 3 CH

TR30_SLB_A 7033830.679 342210.9763 643 4 CH

TR31_DRONE_A 7036393.61 340940.008 580 3 CH

TR31_SLB_A 7033819.679 342226.9759 634 5 CH

TR32_DRONE_A 7036384.61 340940.008 578 3 CH

TR32_SLB_A 7033830.679 342210.9763 626 5 CH

TR33_DRONE_A 7036369.61 340925.0084 569 2 CH

TR33_SLB_A 7033813.679 342228.9759 623 3 CH

TR34_DRONE_A 7036341.611 340910.0088 565 3 CH

TR34_SLB_A 7033794.68 342230.9758 612 4 CH

TR35_DRONE_A 7036348.611 340904.009 560 3 CH

TR35_SLB_A 7033782.68 342239.9756 618 2 CH

TR36_DRONE_A 7036342.611 340883.0095 560 3 CH

TR36_SLB_A 7033773.68 342242.9755 619 4 CH

TR37_DRONE_A 7036342.611 340885.0095 560 2 CH

TR37_SLB_A 7033765.68 342248.9754 620 2 CH

TR38_DRONE_A 7036484.607 341092.0039 610 2 CH

TR38_SLB_A 7033744.681 342240.9756 624 4 CH

TR39_DRONE_A 7036404.61 341087.0041 595 2 CH

TR39_SLB_A 7033719.682 342238.9757 622 2 CH

TR40_DRONE_A 7036390.61 341089.004 595 3 CH

TR40_SLB_A 7033708.682 342255.9752 616 1.5 CH

TR41_DRONE_A 7036322.612 341042.0053 572 2 CH

TR41_SLB_A 7033699.682 342245.9755 608 3 CH

TR42_DRONE_A 7036316.612 341036.0055 570 3 CH

TR42_SLB_A 7033683.683 342250.9754 606 6 CH




TR43_DRONE_A 7036130.617 341173.002 562 34.5 CH

TR43_SLB_A 7033678.683 342249.9754 607 15 CH

TR44_DRONE_A 7036188.615 341169.0021 570 12 CH

TR44_SLB_A 7033989.674 342140.9781 614 5 CH

TR45_DRONE_A 7036236.614 341125.0032 565 43 CH

TR45_SLB_A 7033997.674 342140.978 615 5 CH

TR46_DRONE_A 7036200.615 341089.0042 557 12.5 CH

TR46_SLB_A 7034012.674 342133.9782 620 5 CH

TR47_SLB_A 7034025.673 342129.9783 625 2 CH

TR48_SLB_A 7034034.673 342135.9782 626 8 CH

TR49_SLB_A 7034050.673 342127.9784 623 8.5 CH

TR50_SLB_A 7034069.672 342120.9785 623 3 CH

TR51_SLB_A 7034078.672 342114.9787 621 2 CH

TR52_SLB_A 7034109.671 342101.979 620 2 CH

TR53_SLB_A 7034135.671 342093.9792 626 3 CH

TR54_SLB_A 7034149.67 342098.979 620 3 CH

TR55_SLB_A 7034217.668 342076.9796 629 4 CH

TR56_SLB_A 7034218.668 342143.9778 645 11 CH

TR57_SLB_A 7034174.67 342185.9767 653 39 CH

TR58_SLB_A 7034113.671 342176.977 657 4 CH

TR59_SLB_A 7034098.672 342184.9768 666 2 CH

TR60_SLB_A 7034090.672 342178.977 666 21 CH

TR61_SLB_A 7034027.674 342206.9763 648 5 CH

TR62_SLB_A 7034012.674 342224.9758 643 10 CH

TR63_SLB_A 7033993.674 342230.9757 647 7 CH

TR64_SLB_A 7033980.675 342237.9755 648 4 CH

TR65_SLB_A 7033969.675 342249.9752 648 2.5 CH

TR66_SLB_A 7033943.676 342269.9747 649 10 CH

TR67_SLB_A 7033928.676 342269.9747 649 2 CH

TR68_SLB_A 7033909.677 342274.9746 658 9 CH

TR69_SLB_A 7033889.677 342283.9743 652 5 CH

TR70_SLB_A 7033866.678 342308.9737 634 5 CH

TR71_SLB_A 7033846.678 342306.9738 642 5 CH

TR72_SLB_A 7034028.673 342160.9775 639 70.5 CH

TR73_SLB_A 7033982.675 342207.9763 632 9 CH

TR74_SLB_A 7033967.675 342208.9763 636 3 CH

TR75_SLB_A 7033945.676 342222.9759 638 10 CH

TR76_SLB_A 7033925.676 342229.9757 651 1.5 CH

TR77_SLB_A 7033909.677 342232.9757 658 17 CH

TREXT_TOROBL_A 7037570.579 342092.9765 902 1 CH

TREXT_TOROBL_B 7037551.58 342093.9765 904 1 CH

TREXT_TOROBL_C 7037531.581 342100.9763 900 1 CH

TREXT_TOROBL_D 7037507.581 342073.9771 899 0.6 CH

TREXT_TOROBL_E 7037472.582 342065.9773 870 1 CH

TREXT_TOROBL_F 7037440.583 342063.9774 860 1 CH

TREXT_TOROBL_G 7037386.584 342084.9769 862 1.2 CH




TREXT_TOROBL_H 7037368.585 342072.9772 858 1 CH

TREXT_TOROBL_I 7037324.586 342057.9776 850 1.2 CH

TREXT_TOROBL_J 7037277.587 342033.9783 840 1 CH

TREXT_TOROBL_K 7037265.588 342021.9786 830 1 CH

TREXT_TOROBL_L 7037206.589 342004.9791 820 1 CH

TREXT_TOROBL_M 7037167.59 341978.9798 804 1 CH

TRGUL_TOROBL_A 7037170.59 342063.9776 815 2 CH

TRGUL_TOROBL_B 7037103.592 342033.9784 787 1.5 CH

TRGUL_TOROBL_C 7037085.592 342002.9793 773 1.2 CH

TRGUL_TOROBL_D 7037026.594 341994.9795 763 2.5 CH

TRGUL_TOROBL_E 7036896.597 342024.9788 739 1.2 CH

TRGUL_TOROBL_F 7036913.597 342037.9785 753 1.2 CH

TRGUL_TOROBL_G 7036899.597 342076.9775 762 1.5 CH



Tesoro Trenches Assays

Hole From (m)

To (m)

Interval Au

(g/t)

TR01_DRONE_A 0 3 3 0.005

TR01_DRONE_A 3 6 3 0.01

TR01_DRONE_A 6 11 5 0.01

TR01_DRONE_A 11 16 5 0.01

TR01_DRONE_A 16 21 5 0.005

TR01_DRONE_A 21 26 5 0.005

TR01_DRONE_A 26 31 5 0.005

TR01_DRONE_A 31 36 5 0.01

TR01_DRONE_A 36 37 1 0.005

TR01_DRONE_A 37 40 3 0.005

TR01_DRONE_A 40 41 1 0.09

TR01_DRONE_A 41 46 5 0.005

TR01_DRONE_A 46 51 5 0.005

TR01_SLB_A 0 5 5 0.005

TR01_SLB_A 5 10 5 0.005

TR01_SLB_A 10 15 5 0.005

TR01_SLB_A 15 20 5 0.005

TR01_SLB_A 20 25 5 0.005

TR01_SLB_A 25 30 5 0.005

TR01_SLB_A 30 35 5 0.005

TR01_SLB_A 35 36.5 1.5 0.005

TR01_SLB_A 36.5 41.5 5 0.005

TR01_SLB_A 41.5 45.5 4 0.005

TR01_SLB_A 45.5 48 2.5 0.01

TR01_TOROBL_A 0 4.2 4.2 0.005

TR01_TOROBL_A 4.2 9.2 5 0.005

TR01_TOROBL_A 9.2 10.7 1.5 0.005

TR01_TOROBL_A 10.7 15.7 5 0.005

TR01_TOROBL_A 15.7 19.2 3.5 0.005

TR01_TOROBL_A 19.2 22.5 3.3 0.005

TR01_TOROBL_A 22.5 25.8 3.3 0.005

TR01_TOROBL_A 25.8 26.8 1 0.005

TR01_TOROBL_A 26.8 30.6 3.8 0.01

TR01_TOROBL_A 30.6 33.1 2.5 0.02

TR01_TOROBL_A 33.1 36.5 3.4 0.005

TR01_TOROBL_A 36.5 41.5 5 0.07

TR01_TOROBL_A 41.5 43 1.5 0.005

TR01_TOROBL_A 43 48 5 0.01

TR01_TOROBL_A 48 53 5 0.005

TR01_TOROBL_A 53 55.8 2.8 0.005

TR01_TOROBL_A 55.8 58.1 2.3 0.01

TR01_TOROBL_A 58.1 63.1 5 0.005

TR01_TOROBL_A 63.1 68.1 5 0.01

TR01_TOROBL_A 68.1 73.1 5 0.005

TR01_TOROBL_A 73.1 78.1 5 0.005

TR01_TOROBL_A 78.1 83.1 5 0.005

TR01_TOROBL_A 83.1 88.1 5 0.005

TR01_TOROBL_A 88.1 93.1 5 0.005

Hole From (m)

To (m)

Interval Au

(g/t)

TR01_TOROBL_A 93.1 98.1 5 0.005

TR01_TOROBL_A 98.1 103.1 5 0.005

TR01_TOROBL_A 103.1 108.1 5 0.005

TR01_TOROBL_A 108.1 113.1 5 0.005

TR01_TOROBL_A 113.1 114.7 1.6 0.005

TR01_TOROBL_A 114.7 118 3.3 0.01

TR01_TOROBL_A 118 119 1 0.005

TR01_TOROBL_A 119 120.4 1.4 0.005

TR01_TOROBL_A 120.4 121.9 1.5 0.005

TR01_TOROBL_A 121.9 124.1 2.2 0.03

TR01_TOROBL_A 124.1 126.4 2.3 0.005

TR01_TOROBL_A 126.4 131.4 5 0.005

TR01_TOROBL_A 131.4 134.4 3 0.005

TR01_TOROBL_A 134.4 139.4 5 0.005

TR01_TOROBL_A 139.4 144.4 5 0.005

TR01_TOROBL_A 144.4 147.7 3.3 0.005

TR01_TOROBL_A 147.7 151.7 4 0.01

TR01_TOROBL_A 151.7 156.7 5 0.005

TR01_TOROBL_A 156.7 161.7 5 0.005

TR01_TOROBL_B 0 5 5 0.005

TR01_TOROBL_B 5 10 5 0.005

TR01_TOROBL_B 10 15 5 0.005

TR01_TOROBL_B 15 20 5 0.005

TR01_TOROBL_B 20 25 5 0.005

TR01_TOROBL_B 25 30 5 0.005

TR01_TOROBL_B 30 33 3 0.005

TR01_TOROBL_B 33 38 5 0.005

TR01_TOROBL_B 38 43 5 0.005

TR01_TOROBL_B 43 48 5 0.005

TR01_TOROBL_B 48 53 5 0.005

TR01_TOROBL_B 53 58 5 0.01

TR01_TOROBL_B 58 63 5 0.005

TR01_TOROBL_B 63 68 5 0.005

TR01_TOROBL_B 68 73 5 0.005

TR01_TOROBL_B 73 78 5 0.005

TR01_TOROBL_B 78 83 5 0.005

TR01_TOROBL_B 83 88 5 0.01

TR01_TOROBL_B 88 91.5 3.5 0.005

TR01_TOROBL_B 91.5 94.5 3 0.005

TR01_TOROBL_B 94.5 99.5 5 0.005

TR01_TOROBL_B 99.5 104.5 5 0.005

TR01_TOROBL_B 104.5 109.5 5 0.01

TR01N_COQ_A 0 5 5 0.005

TR01N_COQ_A 5 9 4 0.005

TR01N_COQ_A 9 11 2 0.005

TR01N_COQ_A 11 13.5 2.5 0.005

TR01N_COQ_A 13.5 18.5 5 0.005

TR01N_COQ_B 0 5 5 0.04

TR01N_COQ_C 0 4 4 0.01

TR01N_COQ_C 4 8.5 4.5 0.07



Hole From (m)

To (m)

Interval Au

(g/t)

TR01N_COQ_C 8.5 10 1.5 0.03

TR01N_COQ_C 10 13.5 3.5 0.005

TR01N_COQ_C 13.5 14.5 1 0.005

TR01N_COQ_C 14.5 17.5 3 0.005

TR01N_COQ_C 17.5 21 3.5 0.02

TR01N_COQ_C 21 26 5 0.09

TR01N_COQ_C 26 28.5 2.5 0.02

TR01N_COQ_D 0 2 2 0.01

TR01N_COQ_D 2 5 3 0.005

TR01W_COQ_A 0 5 5 0.05

TR01W_COQ_A 5 10 5 0.005

TR01W_COQ_A 10 15 5 0.005

TR01W_COQ_A 15 20 5 0.005

TR01W_COQ_A 20 25 5 0.005

TR01W_COQ_A 25 30 5 0.01

TR01W_COQ_A 30 35 5 0.02

TR01W_COQ_A 35 40 5 0.01

TR01W_COQ_A 40 45 5 0.02

TR01W_COQ_A 45 50 5 0.005

TR01W_COQ_A 50 55 5 0.01

TR01W_COQ_B 0 5 5 0.005

TR01W_COQ_B 5 10 5 0.01

TR01W_COQ_B 10 15 5 0.06

TR01W_COQ_B 15 20 5 0.01

TR02_DRONE_A 0 5 5 0.01

TR02_DRONE_A 5 10 5 0.005

TR02_DRONE_A 10 15 5 0.01

TR02_DRONE_A 15 19 4 0.005

TR02_DRONE_A 19 24 5 0.01

TR02_DRONE_A 24 25.5 1.5 0.005

TR02_DRONE_A 25.5 30.5 5 0.01

TR02_DRONE_A 30.5 33 2.5 0.03

TR02_DRONE_A 33 34.5 1.5 0.02

TR02_DRONE_A 34.5 39.5 5 0.05

TR02_DRONE_A 39.5 44.5 5 0.1

TR02_DRONE_A 44.5 49.5 5 0.02

TR02_DRONE_A 49.5 54.5 5 0.07

TR02_DRONE_A 54.5 58.5 4 0.03

TR02_DRONE_A 58.5 62.5 4 0.02

TR02_DRONE_A 62.5 63.5 1 0.02

TR02_DRONE_A 63.5 68.5 5 0.03

TR02_DRONE_A 68.5 73.5 5 0.01

TR02_SLB_A 0 5 5 0.005

TR02_SLB_A 5 10 5 0.005

TR02_SLB_A 10 15 5 0.005

TR02_SLB_A 15 20 5 0.02

TR02_SLB_A 20 24 4 0.005

TR02_SLB_A 24 28 4 0.005

TR02_SLB_A 28 33 5 0.005

TR02_SLB_A 33 38 5 0.01

Hole From (m)

To (m)

Interval Au

(g/t)

TR02_SLB_A 38 43 5 0.005

TR02_SLB_A 43 48 5 0.005

TR02_SLB_A 48 53 5 0.01

TR02_SLB_A 53 58 5 0.005

TR02_SLB_A 58 63 5 0.01

TR02_SLB_A 63 68 5 0.005

TR02_TOROBL_A 0 5 5 0.02

TR02_TOROBL_A 5 10 5 0.005

TR02_TOROBL_A 10 15 5 0.005

TR02_TOROBL_A 15 18 3 0.005

TR02_TOROBL_A 18 22 4 0.005

TR02_TOROBL_A 22 27 5 0.005

TR02_TOROBL_A 27 32 5 0.005

TR02_TOROBL_A 32 33.7 1.7 0.005

TR02_TOROBL_A 33.7 38.7 5 0.005

TR02_TOROBL_A 38.7 43.7 5 0.005

TR02_TOROBL_A 43.7 46.9 3.2 0.02

TR02_TOROBL_B 0 5 5 0.005

TR02_TOROBL_B 5 10 5 0.01

TR02_TOROBL_B 10 15 5 0.005

TR02_TOROBL_B 15 20 5 0.005

TR02_TOROBL_B 20 25 5 0.005

TR02N_COQ_A 0 4.3 4.3 0.12

TR02N_COQ_A 4.3 7.8 3.5 0.08

TR02N_COQ_A 7.8 12.6 4.8 0.62

TR02N_COQ_A 12.6 14.4 1.8 9.73

TR02N_COQ_A 14.4 16.6 2.2 0.35

TR02N_COQ_A 16.6 21.6 5 0.04

TR02N_COQ_B 0 2 2 0.005

TR02N_COQ_B 2 5.5 3.5 0.005

TR02N_COQ_B 5.5 7.5 2 0.005

TR02N_COQ_B 7.5 11.5 4 0.005

TR02W_COQ_A 0 5 5 0.03

TR02W_COQ_A 5 10 5 0.005

TR02W_COQ_A 10 15 5 0.005

TR02W_COQ_A 15 20 5 0.005

TR02W_COQ_A 20 25 5 0.005

TR02W_COQ_A 25 30 5 0.005

TR02W_COQ_A 30 35 5 0.005

TR02W_COQ_A 35 40 5 0.03

TR02W_COQ_B 0 5 5 0.01

TR02W_COQ_B 5 10 5 0.02

TR02W_COQ_B 10 15 5 0.005

TR02W_COQ_B 15 20 5 0.01

TR02W_COQ_B 20 25 5 0.24

TR02W_COQ_B 25 30 5 0.06

TR02W_COQ_B 30 35 5 0.13

TR02W_COQ_B 35 40 5 0.04

TR02W_COQ_B 40 45 5 0.02

TR02W_COQ_C 0 5 5 0.03



Hole From (m)

To (m)

Interval Au

(g/t)

TR02W_COQ_C 5 10 5 0.02

TR02W_COQ_C 10 15 5 0.01

TR02W_COQ_C 15 20 5 0.01

TR03_DRONE_A 0 5 5 0.01

TR03_DRONE_A 5 6.5 1.5 0.02

TR03_DRONE_A 6.5 11.5 5 0.01

TR03_DRONE_A 11.5 16.5 5 0.005

TR03_DRONE_A 16.5 21.5 5 0.01

TR03_DRONE_A 21.5 25.5 4 0.005

TR03_DRONE_A 25.5 29.5 4 0.01

TR03_SLB_A 0 1.2 1.2 0.005

TR03_SLB_A 1.2 2.5 1.3 0.005

TR03_SLB_A 2.5 7.5 5 0.005

TR03_SLB_A 7.5 12.5 5 0.005

TR03_SLB_A 12.5 17.5 5 0.005

TR03_SLB_A 17.5 22.5 5 0.005

TR03_SLB_A 22.5 27.5 5 0.005

TR03_SLB_A 27.5 32.5 5 0.005

TR03_SLB_A 32.5 37.5 5 0.005

TR03_SLB_A 37.5 42.5 5 0.01

TR03_SLB_A 42.5 47.5 5 0.005

TR03_SLB_A 47.5 52.5 5 0.005

TR03_SLB_A 52.5 57.5 5 0.005

TR03_SLB_A 57.5 62.5 5 0.005

TR03_SLB_A 62.5 67.5 5 0.005

TR03_SLB_A 67.5 72.5 5 0.005

TR03_SLB_A 72.5 77.5 5 0.005

TR03_SLB_A 77.5 82.5 5 0.005

TR03_SLB_A 82.5 87.5 5 0.005

TR03_SLB_A 87.5 92.5 5 0.02

TR03_SLB_A 92.5 95 2.5 0.05

TR03_SLB_A 95 100 5 0.005

TR03_SLB_A 100 105 5 0.005

TR03_SLB_A 105 110 5 0.005

TR03_SLB_A 110 115 5 0.005

TR03_SLB_A 115 119 4 0.005

TR03_SLB_A 119 124 5 0.005

TR03_SLB_A 124 129 5 0.005

TR03_SLB_A 129 134 5 0.005

TR03_SLB_A 134 139 5 0.005

TR03_SLB_A 139 140.5 1.5 0.01

TR03_SLB_A 140.5 145.5 5 0.28

TR03_SLB_A 145.5 150.5 5 0.03

TR03_SLB_A 150.5 153.5 3 0.005

TR03_SLB_A 153.5 158.5 5 0.005

TR03_SLB_A 158.5 163.5 5 0.005

TR03_SLB_A 163.5 166 2.5 0.005

TR03_SLB_A 166 171 5 0.03

TR03_SLB_A 171 176 5 0.02

TR03_SLB_A 176 181 5 0.005

Hole From (m)

To (m)

Interval Au

(g/t)

TR03_TOROBL_A 0 5 5 0.005

TR03_TOROBL_A 5 10 5 0.005

TR03_TOROBL_A 10 15 5 0.005

TR03_TOROBL_A 15 20 5 0.005

TR03_TOROBL_A 20 25 5 0.005

TR03_TOROBL_A 25 30 5 0.005

TR03_TOROBL_A 30 35 5 0.005

TR03_TOROBL_A 35 39.3 4.3 0.005

TR03N_COQ_A 0 4 4 0.01

TR03N_COQ_B 0 5 5 0.09

TR03N_COQ_B 5 10 5 0.005

TR03N_COQ_B 10 14.5 4.5 0.06

TR03N_COQ_B 14.5 19.5 5 0.02

TR03N_COQ_B 19.5 24.5 5 0.04

TR03N_COQ_B 24.5 25.8 1.3 1.45

TR03N_COQ_B 25.8 27 1.2 0.57

TR03N_COQ_B 27 28.7 1.7 0.08

TR03N_COQ_C 0 3 3 0.03

TR03N_COQ_C 3 6 3 0.11

TR03N_COQ_C 6 9.5 3.5 0.01

TR03N_COQ_C 9.5 12 2.5 0.01

TR03N_COQ_C 12 16 4 0.005

TR03N_COQ_C 16 19 3 0.06

TR03N_COQ_C 19 21.5 2.5 0.01

TR03N_COQ_C 21.5 23.5 2 0.005

TR03N_COQ_C 23.5 28 4.5 0.01

TR03N_COQ_C 28 31.5 3.5 0.005

TR03N_COQ_C 31.5 33.5 2 0.02

TR03N_COQ_C 33.5 38.5 5 0.005

TR03N_COQ_C 38.5 41 2.5 0.005

TR03N_COQ_C 41 45.5 4.5 0.005

TR03N_COQ_C 45.5 49 3.5 0.06

TR03N_COQ_C 49 53 4 0.005

TR03N_COQ_C 53 54.5 1.5 0.07

TR03N_COQ_C 54.5 59.5 5 0.01

TR03N_COQ_C 59.5 64.5 5 0.01

TR03N_COQ_C 64.5 68 3.5 0.02

TR03N_COQ_C 68 73 5 0.005

TR03N_COQ_C 73 77.5 4.5 0.02

TR03N_COQ_C 77.5 82.5 5 0.01

TR03N_COQ_C 82.5 84 1.5 0.005

TR03W_COQ_A 0 5 5 0.01

TR03W_COQ_A 5 10 5 0.03

TR03W_COQ_A 10 15 5 0.02

TR03W_COQ_A 15 20 5 0.005

TR03W_COQ_A 20 25 5 0.005

TR03W_COQ_A 25 28 3 0.01

TR03W_COQ_A 28 31 3 0.005

TR03W_COQ_A 31 34 3 0.005

TR03W_COQ_A 34 38 4 0.005



Hole From (m)

To (m)

Interval Au

(g/t)

TR03W_COQ_A 38 43 5 0.005

TR03W_COQ_A 43 44.2 1.2 0.07

TR03W_COQ_A 44.2 45.4 1.2 0.005

TR03W_COQ_A 45.4 49.4 4 0.01

TR03W_COQ_B 0 1.5 1.5 0.005

TR03W_COQ_B 1.5 4 2.5 0.005

TR03W_COQ_B 4 8 4 0.01

TR03W_COQ_B 8 13 5 0.005

TR03W_COQ_B 13 17 4 0.01

TR03W_COQ_B 17 22 5 0.005

TR03W_COQ_B 22 23.5 1.5 0.005

TR03W_COQ_B 23.5 27 3.5 0.02

TR03W_COQ_B 27 30 3 0.005

TR03W_COQ_B 30 35 5 0.005

TR03W_COQ_B 35 40 5 0.01

TR03W_COQ_B 40 45 5 0.01

TR03W_COQ_B 45 47 2 0.43

TR03W_COQ_B 47 52 5 0.05

TR03W_COQ_B 52 57 5 0.005

TR03W_COQ_B 57 62 5 0.02

TR03W_COQ_B 62 66 4 0.005

TR03W_COQ_B 66 68.5 2.5 0.01

TR03W_COQ_B 68.5 72 3.5 0.005

TR03W_COQ_B 72 74 2 0.03

TR03W_COQ_B 74 79 5 0.02

TR03W_COQ_B 79 84 5 0.35

TR03W_COQ_B 84 89 5 0.26

TR03W_COQ_B 89 92 3 0.44

TR03W_COQ_B 92 97 5 0.01

TR03W_COQ_B 97 102 5 0.02

TR03W_COQ_B 102 107 5 0.01

TR03W_COQ_B 107 110 3 0.04

TR03W_COQ_B 110 111 1 0.12

TR03W_COQ_B 111 116 5 0.02

TR03W_COQ_B 116 121 5 0.02

TR03W_COQ_B 121 126 5 0.01

TR03W_COQ_B 126 131 5 0.01

TR03W_COQ_B 131 136 5 0.01

TR03W_COQ_B 136 138 2 0.08

TR03W_COQ_B 138 143 5 0.01

TR03W_COQ_B 143 148 5 0.005

TR03W_COQ_B 148 153 5 0.005

TR03W_COQ_C 0 5 5 0.005

TR03W_COQ_C 5 7.5 2.5 0.005

TR03W_COQ_C 7.5 12.5 5 0.005

TR03W_COQ_C 12.5 15.5 3 0.005

TR03W_COQ_C 15.5 20.5 5 0.005

TR03W_COQ_C 20.5 25.5 5 0.005

TR03W_COQ_C 25.5 30.5 5 0.005

TR04_DRONE_A 0 1.5 1.5 0.01

Hole From (m)

To (m)

Interval Au

(g/t)

TR04_DRONE_A 1.5 4 2.5 0.01

TR04_DRONE_A 4 5 1 0.04

TR04_DRONE_A 5 8 3 0.02

TR04_DRONE_A 8 10 2 0.005

TR04_DRONE_A 10 13 3 0.01

TR04_DRONE_A 13 15.5 2.5 0.1

TR04_DRONE_A 15.5 17 1.5 0.03

TR04_DRONE_A 17 22 5 0.1

TR04_DRONE_A 22 27 5 0.03

TR04_DRONE_A 27 32 5 0.02

TR04_SLB_A 0 5 5 0.005

TR04_SLB_A 5 6 1 0.01

TR04_SLB_A 6 11 5 0.01

TR04_SLB_A 11 16 5 0.005

TR04_SLB_A 16 21 5 0.005

TR04_TOROBL_A 0 3.8 3.8 0.005

TR04_TOROBL_A 3.8 8.8 5 0.005

TR04_TOROBL_A 8.8 13.8 5 0.005

TR04_TOROBL_A 13.8 18.8 5 0.005

TR04_TOROBL_A 18.8 23.8 5 0.005

TR04_TOROBL_A 23.8 28.8 5 0.005

TR04_TOROBL_A 28.8 32.8 4 0.005

TR04_TOROBL_A 32.8 34.3 1.5 0.005

TR04_TOROBL_A 34.3 36.3 2 0.005

TR04_TOROBL_A 36.3 37.8 1.5 0.005

TR04_TOROBL_A 37.8 42.8 5 0.005

TR04_TOROBL_A 42.8 47.8 5 0.005

TR04_TOROBL_A 47.8 52.8 5 0.005

TR04_TOROBL_A 52.8 55.3 2.5 0.005

TR04_TOROBL_A 55.3 57.3 2 0.005

TR04_TOROBL_B 0 5 5 0.005

TR04_TOROBL_B 5 10 5 0.005

TR04_TOROBL_B 10 15 5 0.005

TR04_TOROBL_B 15 18 3 0.005

TR04_TOROBL_B 18 19.5 1.5 0.01

TR04_TOROBL_B 19.5 24.5 5 0.005

TR04N_COQ_A 0 3 3 0.005

TR05_DRONE_A 0 4 4 0.01

TR05_DRONE_A 4 9 5 0.01

TR05_SLB_A 0 5 5 0.005

TR05_SLB_A 5 10 5 0.005

TR05_SLB_A 10 13 3 0.005

TR05_SLB_A 13 18 5 0.005

TR05_SLB_A 18 23 5 0.005

TR05_SLB_A 23 28 5 0.005

TR05_SLB_A 28 33 5 0.01

TR05_SLB_A 33 38 5 0.01

TR05_SLB_A 38 43 5 0.01

TR05_SLB_A 43 48 5 0.005

TR05_SLB_A 48 53 5 0.005



Hole From (m)

To (m)

Interval Au

(g/t)

TR05_SLB_A 53 58 5 0.005

TR05_SLB_A 58 63 5 0.005

TR05_SLB_A 63 68 5 0.03

TR05_SLB_A 68 73 5 0.02

TR05_SLB_A 73 78 5 0.01

TR05_SLB_A 78 82 4 0.01

TR05_SLB_A 82 87 5 0.005

TR05_SLB_A 87 92 5 0.005

TR05_SLB_A 92 97 5 0.01

TR05_SLB_A 97 102 5 0.005

TR05_SLB_A 102 107 5 0.11

TR05_SLB_A 107 112 5 0.005

TR05_SLB_A 112 116 4 0.02

TR05_SLB_A 116 121 5 0.02

TR05_SLB_A 121 122.5 1.5 0.005

TR05_SLB_A 122.5 127.5 5 0.01

TR05_SLB_A 127.5 131 3.5 0.005

TR05_SLB_A 131 136 5 0.005

TR05_SLB_A 136 141 5 0.005

TR05_SLB_A 141 146 5 0.01

TR05_SLB_A 146 151 5 0.36

TR05_SLB_A 151 156 5 0.04

TR05_SLB_A 156 161 5 0.01

TR05_SLB_A 161 166 5 1.7

TR05_SLB_A 166 169 3 0.09

TR05_SLB_A 169 174 5 0.03

TR05_SLB_A 174 179 5 0.01

TR05_SLB_A 179 184 5 0.005

TR05_SLB_A 184 189 5 0.02

TR05_SLB_A 189 192 3 0.29

TR05_SLB_A 192 195 3 0.05

TR05_SLB_A 195 200 5 0.01

TR05_SLB_A 200 205 5 0.02

TR05_TOROBL_A 0 5 5 0.005

TR05_TOROBL_A 5 10 5 0.005

TR05_TOROBL_A 10 15 5 0.005

TR05_TOROBL_A 15 20 5 0.005

TR05_TOROBL_B 0 4 4 0.005

TR05_TOROBL_B 4 9 5 0.005

TR05_TOROBL_B 9 12 3 0.005

TR05_TOROBL_B 12 15.5 3.5 0.005

TR05_TOROBL_B 15.5 18.5 3 0.005

TR05_TOROBL_B 18.5 23.5 5 0.005

TR05_TOROBL_B 23.5 28.5 5 0.005

TR05_TOROBL_B 28.5 33.5 5 0.005

TR05_TOROBL_B 33.5 38.5 5 0.005

TR05N_COQ_A 0 4 4 0.005

TR05N_COQ_A 4 8 4 0.005

TR05N_COQ_A 8 13 5 0.01

TR05N_COQ_A 13 15.3 2.3 0.01

Hole From (m)

To (m)

Interval Au

(g/t)

TR05N_COQ_A 15.3 17.3 2 0.01

TR05N_COQ_A 17.3 18.6 1.3 0.01

TR05N_COQ_A 18.6 20.6 2 0.02

TR05N_COQ_A 20.6 22.8 2.2 0.38

TR05N_COQ_A 22.8 25.8 3 0.02

TR06_DRONE_A 0 5 5 0.005

TR06_DRONE_A 5 10 5 0.08

TR06_DRONE_A 10 15 5 0.03

TR06_SLB_A 0 5 5 0.01

TR06_TOROBL_A 0 5 5 0.005

TR06_TOROBL_A 5 10 5 0.005

TR06_TOROBL_A 10 15 5 0.005

TR06_TOROBL_A 15 19 4 0.005

TR06_TOROBL_A 19 21.5 2.5 0.005

TR06_TOROBL_A 21.5 24 2.5 0.005

TR06_TOROBL_A 24 28 4 0.005

TR06_TOROBL_A 28 33 5 0.005

TR06_TOROBL_A 33 38 5 0.005

TR06_TOROBL_A 38 41.5 3.5 0.005

TR06_TOROBL_A 41.5 44.5 3 0.005

TR06_TOROBL_A 44.5 46.5 2 0.06

TR06_TOROBL_A 46.5 49 2.5 0.02

TR06N_COQ_A 0 3.5 3.5 0.02

TR06N_COQ_A 3.5 7.5 4 0.04

TR06N_COQ_A 7.5 9.5 2 0.01

TR06N_COQ_A 9.5 11.7 2.2 0.17

TR06N_COQ_A 11.7 16.7 5 0.13

TR06N_COQ_A 16.7 21.7 5 0.03

TR07_DRONE_A 0 1 1 1.05

TR07_DRONE_A 1 6 5 0.03

TR07_DRONE_A 6 10 4 0.01

TR07_DRONE_A 10 15 5 0.005

TR07_DRONE_A 15 18 3 0.01

TR07_DRONE_A 18 20.5 2.5 0.005

TR07_DRONE_A 20.5 25.5 5 0.01

TR07_DRONE_A 25.5 30.5 5 0.01

TR07_DRONE_A 30.5 35.5 5 0.01

TR07_SLB_A 0 5 5 0.005

TR07_SLB_A 5 10 5 0.005

TR07_SLB_A 10 15 5 0.005

TR07_TOROBL_A 0 3.5 3.5 0.01

TR07_TOROBL_A 3.5 5 1.5 0.02

TR07_TOROBL_B 0 5 5 0.005

TR07_TOROBL_B 5 10 5 0.01

TR07_TOROBL_B 10 15 5 0.005

TR07_TOROBL_B 15 20 5 0.005

TR07_TOROBL_B 20 22.5 2.5 0.005

TR07_TOROBL_B 22.5 27.5 5 0.005

TR07_TOROBL_B 27.5 32.5 5 0.005

TR07_TOROBL_B 32.5 37.5 5 0.005



Hole From (m)

To (m)

Interval Au

(g/t)

TR07_TOROBL_B 37.5 42.5 5 0.005

TR07_TOROBL_B 42.5 47.5 5 0.005

TR07_TOROBL_B 47.5 52.5 5 0.005

TR07_TOROBL_B 52.5 57.5 5 0.005

TR07_TOROBL_B 57.5 60.5 3 0.005

TR07_TOROBL_B 60.5 65.5 5 0.005

TR07_TOROBL_B 65.5 70.5 5 0.005

TR07_TOROBL_B 70.5 75.5 5 0.005

TR07_TOROBL_B 75.5 80.5 5 0.005

TR07_TOROBL_B 80.5 85.5 5 0.005

TR07_TOROBL_B 85.5 90.5 5 0.005

TR07_TOROBL_B 90.5 95.5 5 0.005

TR07_TOROBL_B 95.5 100.5 5 0.005

TR07_TOROBL_B 100.5 103 2.5 0.005

TR07N_COQ_A 0 5 5 0.005

TR07N_COQ_A 5 10 5 0.005

TR07N_COQ_A 10 13 3 0.005

TR08_DRONE_A 0 2.5 2.5 0.02

TR08_DRONE_A 2.5 4.5 2 0.06

TR08_DRONE_A 4.5 9.5 5 0.01

TR08_DRONE_A 9.5 14.5 5 0.005

TR08_DRONE_A 14.5 17.5 3 0.01

TR08_DRONE_A 17.5 22.5 5 0.03

TR08_DRONE_A 22.5 27.5 5 0.01

TR08_DRONE_A 27.5 30 2.5 0.005

TR08_DRONE_A 30 35 5 0.01

TR08_DRONE_A 35 39 4 0.01

TR08_DRONE_A 39 42 3 0.01

TR08_DRONE_A 42 45 3 0.01

TR08_DRONE_A 45 47.5 2.5 0.01

TR08_DRONE_A 47.5 49.5 2 0.01

TR08_DRONE_A 49.5 54.5 5 0.01

TR08_DRONE_A 54.5 59.5 5 0.005

TR08_SLB_A 0 3 3 0.005

TR08_SLB_A 3 8 5 0.005

TR08_SLB_A 8 11 3 0.005

TR08N_COQ_A 0 4 4 0.005

TR08N_COQ_A 4 9 5 0.005

TR08N_COQ_A 9 14 5 0.005

TR08N_COQ_A 14 18 4 0.005

TR08N_COQ_A 18 19 1 0.005

TR08N_COQ_A 19 24 5 0.005

TR08N_COQ_A 24 29 5 0.005

TR08N_COQ_A 29 34 5 0.005

TR08N_COQ_A 34 36.5 2.5 0.04

TR08N_COQ_A 36.5 40.5 4 0.005

TR08N_COQ_A 40.5 44.5 4 0.01

TR09_DRONE_A 0 4 4 0.005

TR09_DRONE_A 4 9 5 0.005

TR09_DRONE_A 9 12 3 0.02

Hole From (m)

To (m)

Interval Au

(g/t)

TR09_DRONE_A 12 17 5 0.005

TR09_DRONE_A 17 20.5 3.5 0.005

TR09_DRONE_A 20.5 25.5 5 0.005

TR09_DRONE_A 25.5 30.5 5 0.005

TR09_DRONE_A 30.5 35.5 5 0.005

TR09_DRONE_A 35.5 40.5 5 0.005

TR09_DRONE_A 40.5 45.5 5 0.005

TR09_DRONE_A 45.5 50.5 5 0.005

TR09_DRONE_A 50.5 55.5 5 0.005

TR09_DRONE_A 55.5 60.5 5 0.005

TR09_DRONE_A 60.5 65.5 5 0.01

TR09_DRONE_A 65.5 68 2.5 0.03

TR09_DRONE_A 68 70 2 0.005

TR09_DRONE_A 70 72 2 0.005

TR09_DRONE_A 72 74.5 2.5 0.005

TR09_DRONE_A 74.5 77.5 3 0.005

TR09_DRONE_A 77.5 81 3.5 0.03

TR09_DRONE_A 81 84 3 0.02

TR09_DRONE_A 84 88 4 0.005

TR09_DRONE_A 88 92 4 0.005

TR09_DRONE_A 92 95 3 0.005

TR09_SLB_A 0 3 3 0.01

TR09_SLB_A 3 6 3 0.01

TR09N_COQ_A 0 5 5 0.005

TR09N_COQ_A 5 10 5 0.005

TR10_DRONE_A 0 5 5 0.005

TR10_DRONE_A 5 10 5 0.01

TR10_DRONE_A 10 13 3 0.02

TR10_DRONE_A 13 15.5 2.5 0.005

TR10_SLB_A 0 5 5 0.005

TR10N_COQ_A 0 4 4 0.005

TR10N_COQ_A 4 7.5 3.5 0.02

TR10N_COQ_A 7.5 12.5 5 0.005

TR10N_COQ_A 12.5 16 3.5 0.01

TR10N_COQ_A 16 20 4 0.005

TR10N_COQ_A 20 23 3 0.005

TR10N_COQ_A 23 27 4 0.005

TR10N_COQ_A 27 30.5 3.5 0.005

TR10N_COQ_A 30.5 33.5 3 0.005

TR10N_COQ_A 33.5 36 2.5 0.01

TR10N_COQ_A 36 39.5 3.5 0.06

TR10N_COQ_A 39.5 41 1.5 0.02

TR10N_COQ_A 41 42.2 1.2 0.005

TR10N_COQ_A 42.2 47.2 5 0.005

TR10N_COQ_A 47.2 52.2 5 0.01

TR10N_COQ_A 52.2 57.2 5 0.005

TR10N_COQ_A 57.2 60.7 3.5 0.005

TR10N_COQ_A 60.7 65.7 5 0.005

TR11_DRONE_A 0 5 5 0.005

TR11_SLB_A 0 4 4 0.005



Hole From (m)

To (m)

Interval Au

(g/t)

TR11_SLB_A 4 5.5 1.5 0.005

TR11_SLB_A 5.5 10.5 5 0.01

TR11_SLB_A 10.5 15.5 5 0.005

TR11N_COQ_A 0 4 4 0.02

TR11N_COQ_A 4 7 3 0.01

TR11N_COQ_A 7 11 4 0.01

TR11N_COQ_A 11 15 4 0.005

TR11N_COQ_A 15 19 4 0.04

TR11N_COQ_A 19 23 4 0.04

TR11N_COQ_A 23 26 3 0.6

TR11N_COQ_A 26 30 4 0.01

TR12_DRONE_A 0 5 5 0.01

TR12_DRONE_A 5 10 5 0.01

TR12_DRONE_A 10 15 5 0.03

TR12_DRONE_A 15 20 5 0.02

TR12_DRONE_A 20 25 5 0.01

TR12_DRONE_A 25 30 5 0.05

TR12_DRONE_A 30 35 5 0.05

TR12_DRONE_A 35 40 5 0.03

TR12_DRONE_A 40 45 5 0.01

TR12_DRONE_A 45 49 4 0.01

TR12_DRONE_A 49 54 5 0.02

TR12_DRONE_A 54 59 5 0.01

TR12_DRONE_A 59 64 5 0.005

TR12_DRONE_A 64 69 5 0.005

TR12_DRONE_A 69 74 5 0.005

TR12_DRONE_A 74 79 5 0.005

TR12_SLB_A 0 3 3 0.005

TR12N_COQ_A 0 2 2 0.01

TR12N_COQ_A 2 5 3 0.02

TR12N_COQ_A 5 7 2 0.05

TR12N_COQ_A 7 10.5 3.5 0.38

TR12N_COQ_A 10.5 15.5 5 0.01

TR12N_COQ_A 15.5 20.5 5 0.02

TR12N_COQ_A 20.5 25.5 5 0.01

TR13_DRONE_A 0 5 5 0.01

TR13_DRONE_A 5 10 5 0.02

TR13_DRONE_A 10 15 5 0.01

TR13_DRONE_A 15 20 5 0.04

TR13_DRONE_A 20 23 3 0.03

TR13_DRONE_A 23 24.5 1.5 0.04

TR13_DRONE_A 24.5 27 2.5 0.01

TR13_DRONE_A 27 30 3 0.005

TR13_DRONE_A 30 33 3 0.02

TR13_DRONE_A 33 35.5 2.5 0.01

TR13_DRONE_A 35.5 40.5 5 0.02

TR13_DRONE_A 40.5 45.5 5 0.02

TR13_DRONE_A 45.5 50.5 5 0.02

TR13_DRONE_A 50.5 55.5 5 0.01

TR13_DRONE_A 55.5 59.5 4 0.005

Hole From (m)

To (m)

Interval Au

(g/t)

TR13_DRONE_A 59.5 64.5 5 0.03

TR13_DRONE_A 64.5 69.5 5 0.005

TR13_DRONE_A 69.5 72.5 3 0.37

TR13_DRONE_A 72.5 77.5 5 0.02

TR13_DRONE_A 77.5 82 4.5 0.08

TR13_DRONE_A 82 84 2 0.09

TR13_SLB_A 0 5 5 0.005

TR13N_COQ_A 0 5 5 0.01

TR13N_COQ_A 5 10 5 0.01

TR13N_COQ_A 10 15 5 0.03

TR13N_COQ_A 15 19 4 0.01

TR13N_COQ_A 19 20.5 1.5 0.38

TR13N_COQ_A 20.5 25.5 5 0.01

TR13N_COQ_A 25.5 30.5 5 0.02

TR13N_COQ_A 30.5 32.5 2 0.07

TR13N_COQ_A 32.5 34.5 2 0.08

TR14_DRONE_A 0 5 5 0.04

TR14_DRONE_A 5 6.5 1.5 0.02

TR14_DRONE_A 6.5 11.5 5 0.005

TR14_DRONE_A 11.5 16.5 5 0.005

TR14_DRONE_A 16.5 20 3.5 0.02

TR14_DRONE_A 20 25 5 0.005

TR14_DRONE_A 25 30 5 0.005

TR14_DRONE_A 30 35 5 0.01

TR14_DRONE_A 35 40 5 0.03

TR14_DRONE_A 40 45 5 0.01

TR14_DRONE_A 45 50 5 0.01

TR14_DRONE_A 50 55 5 0.005

TR14_DRONE_A 55 59 4 0.01

TR14_DRONE_A 59 62 3 0.05

TR14_DRONE_A 62 66 4 0.01

TR14_DRONE_A 66 70 4 0.01

TR14_DRONE_A 70 72.5 2.5 0.07

TR14_SLB_A 0 3.5 3.5 0.01

TR14_SLB_A 3.5 8.5 5 0.01

TR14N_COQ_A 0 5 5 0.01

TR14N_COQ_A 5 10 5 0.01

TR14N_COQ_A 10 15 5 0.01

TR14N_COQ_A 15 19 4 0.02

TR14N_COQ_A 19 24 5 0.005

TR15_DRONE_A 0 1.5 1.5 0.02

TR15_DRONE_A 1.5 4.5 3 0.01

TR15_DRONE_A 4.5 9.5 5 0.01

TR15_DRONE_A 9.5 14 4.5 0.005

TR15_DRONE_A 14 19 5 0.005

TR15_DRONE_A 19 22 3 0.2

TR15_DRONE_A 22 27 5 0.06

TR15_SLB_A 0 5 5 0.005

TR15N_COQ_A 0 3.5 3.5 0.01

TR15N_COQ_A 3.5 8.5 5 0.01



Hole From (m)

To (m)

Interval Au

(g/t)

TR15N_COQ_A 8.5 11 2.5 0.01

TR15N_COQ_A 11 15 4 0.005

TR15N_COQ_A 15 20 5 0.005

TR15N_COQ_A 20 22 2 0.13

TR15N_COQ_A 22 23.5 1.5 0.09

TR15N_COQ_A 23.5 25.5 2 0.01

TR15N_COQ_A 25.5 29.5 4 0.01

TR15N_COQ_A 29.5 34 4.5 0.01

TR15N_COQ_A 34 38 4 0.01

TR16_DRONE_A 0 5 5 0.01

TR16_DRONE_A 5 10 5 0.01

TR16_DRONE_A 10 14 4 0.03

TR16_DRONE_A 14 17 3 0.05

TR16_DRONE_A 17 22 5 0.005

TR16_DRONE_A 22 27 5 0.01

TR16_DRONE_A 27 32 5 0.04

TR16_DRONE_A 32 37 5 0.02

TR16_DRONE_A 37 42 5 0.005

TR16_DRONE_A 42 43.5 1.5 0.03

TR16_DRONE_A 43.5 48.5 5 0.03

TR16_DRONE_A 48.5 50.5 2 0.01

TR16_DRONE_A 50.5 55.5 5 0.005

TR16_DRONE_A 55.5 60 4.5 0.01

TR16_DRONE_A 60 65 5 0.03

TR16_DRONE_A 65 68 3 0.01

TR16_DRONE_A 68 73 5 0.09

TR16_DRONE_A 73 76 3 0.26

TR16_DRONE_A 76 79.5 3.5 0.04

TR16_SLB_A 0 5 5 0.005

TR16N_COQ_A 0 3.5 3.5 0.01

TR16N_COQ_A 3.5 8.5 5 0.03

TR16N_COQ_A 8.5 13.5 5 0.02

TR16N_COQ_A 13.5 18.5 5 0.02

TR16N_COQ_A 18.5 23.5 5 0.01

TR16N_COQ_A 23.5 28.5 5 0.02

TR16N_COQ_A 28.5 33.5 5 0.01

TR16N_COQ_A 33.5 38.5 5 0.1

TR16N_COQ_A 38.5 40 1.5 0.005

TR16N_COQ_A 40 41.5 1.5 0.005

TR17_DRONE_A 0 5 5 0.04

TR17_DRONE_A 5 10 5 0.57

TR17_DRONE_A 10 15 5 0.01

TR17_DRONE_A 15 20 5 0.01

TR17_DRONE_A 20 25 5 0.005

TR17_DRONE_A 25 30 5 0.02

TR17_DRONE_A 30 35 5 0.02

TR17_DRONE_A 35 40 5 0.01

TR17_DRONE_A 40 45 5 0.01

TR17_DRONE_A 45 48 3 0.02

TR17_DRONE_A 48 53 5 0.01

Hole From (m)

To (m)

Interval Au

(g/t)

TR17_DRONE_A 53 58 5 0.02

TR17_DRONE_A 58 63 5 0.01

TR17_DRONE_A 63 65 2 0.005

TR17_DRONE_A 65 70 5 0.005

TR17_DRONE_A 70 74 4 0.12

TR17_DRONE_A 74 79 5 0.005

TR17_DRONE_A 79 84 5 0.005

TR17_DRONE_A 84 89 5 0.005

TR17_DRONE_A 89 94 5 0.01

TR17_DRONE_A 94 99 5 0.005

TR17_DRONE_A 99 104 5 0.02

TR17_DRONE_A 104 109 5 0.01

TR17_DRONE_A 109 114 5 0.01

TR17_DRONE_A 114 119 5 0.005

TR17_DRONE_A 119 124 5 0.005

TR17_DRONE_A 124 129 5 0.01

TR17_DRONE_A 129 134 5 0.005

TR17_DRONE_A 134 139 5 0.01

TR17_SLB_A 0 5 5 0.005

TR17N_COQ_A 0 5 5 0.005

TR17N_COQ_A 5 10 5 0.005

TR17N_COQ_A 10 15 5 0.005

TR17N_COQ_A 15 17 2 0.005

TR17N_COQ_A 17 22 5 0.005

TR17N_COQ_A 22 26 4 0.005

TR17N_COQ_A 26 30 4 0.005

TR17N_COQ_A 30 33 3 0.005

TR17N_COQ_A 33 36 3 0.01

TR17N_COQ_A 36 41 5 0.005

TR17N_COQ_A 41 46 5 0.03

TR17N_COQ_A 46 51 5 0.005

TR17N_COQ_A 51 56 5 0.005

TR17N_COQ_A 56 61 5 0.01

TR18_DRONE_A 0 5 5 0.005

TR18_DRONE_A 5 10 5 0.05

TR18_DRONE_A 10 15 5 0.005

TR18_DRONE_A 15 20 5 0.02

TR18_DRONE_A 20 22 2 0.01

TR18_DRONE_A 22 27 5 0.005

TR18_DRONE_A 27 32 5 0.02

TR18_DRONE_A 32 37 5 0.005

TR18_DRONE_A 37 40 3 0.02

TR18_SLB_A 0 3 3 0.01

TR18N_COQ_A 0 4 4 0.52

TR18N_COQ_A 4 7.5 3.5 0.1

TR18N_COQ_A 7.5 11.5 4 0.25

TR18N_COQ_A 11.5 14.5 3 0.51

TR18N_COQ_A 14.5 19.5 5 0.12

TR19_DRONE_A 0 5 5 0.01

TR19_DRONE_A 5 10 5 0.01



Hole From (m)

To (m)

Interval Au

(g/t)

TR19_DRONE_A 10 13.5 3.5 0.01

TR19_SLB_A 0 3 3 0.01

TR19N_COQ_A 0 5 5 0.005

TR19N_COQ_A 5 10 5 0.005

TR20_DRONE_A 0 3 3 0.05

TR20_SLB_A 0 2.5 2.5 0.005

TR20_SLB_A 2.5 7.5 5 0.005

TR20N_COQ_A 0 4 4 0.01

TR20N_COQ_A 4 8 4 0.18

TR21_DRONE_A 0 2 2 0.08

TR21_SLB_A 0 1.5 1.5 0.01

TR21N_COQ_A 0 4 4 0.01

TR21N_COQ_A 4 8 4 0.01

TR21N_COQ_A 8 12 4 0.03

TR22_DRONE_A 0 2 2 0.01

TR22_SLB_A 0 2.5 2.5 0.005

TR22N_COQ_A 0 3 3 0.11

TR22N_COQ_A 3 8 5 0.14

TR22N_COQ_A 8 13 5 0.09

TR22N_COQ_A 13 18 5 0.16

TR22N_COQ_A 18 23 5 0.16

TR22N_COQ_A 23 28 5 0.04

TR22N_COQ_A 28 33 5 0.01

TR22N_COQ_A 33 38 5 0.01

TR22N_COQ_A 38 43 5 0.005

TR23_DRONE_A 0 2 2 0.01

TR23_SLB_A 0 5 5 1.44

TR23_SLB_A 5 10 5 0.005

TR23_SLB_A 10 15 5 0.01

TR23_SLB_A 15 20 5 0.005

TR23_SLB_A 20 25 5 0.01

TR23_SLB_A 25 29 4 0.005

TR24_DRONE_A 0 2 2 0.02

TR24_SLB_A 0 1.5 1.5 2.72

TR25_DRONE_A 0 3 3 0.04

TR25_SLB_A 0 3 3 0.02

TR26_DRONE_A 0 2 2 0.01

TR26_SLB_A 0 2 2 0.1

TR27_DRONE_A 0 3 3 0.01

TR27_SLB_A 0 3 3 0.005

TR28_DRONE_A 0 3 3 0.005

TR28_DRONE_A 3 6 3 0.005

TR28_SLB_A 0 1.5 1.5 0.25

TR29_DRONE_A 0 3 3 0.03

TR29_SLB_A 0 2 2 0.005

TR30_DRONE_A 0 3 3 0.005

TR30_SLB_A 0 4 4 0.005

TR31_DRONE_A 0 3 3 0.02

TR31_SLB_A 0 5 5 0.005

TR32_DRONE_A 0 3 3 0.02

Hole From (m)

To (m)

Interval Au

(g/t)

TR32_SLB_A 0 5 5 0.01

TR33_DRONE_A 0 2 2 0.005

TR33_SLB_A 0 3 3 0.01

TR34_DRONE_A 0 3 3 0.005

TR34_SLB_A 0 4 4 0.01

TR35_DRONE_A 0 3 3 0.02

TR35_SLB_A 0 2 2 0.005

TR36_DRONE_A 0 3 3 0.005

TR36_SLB_A 0 4 4 0.005

TR37_DRONE_A 0 2 2 0.01

TR37_SLB_A 0 2 2 0.005

TR38_DRONE_A 0 2 2 0.2

TR38_SLB_A 0 4 4 0.005

TR39_DRONE_A 0 2 2 0.02

TR39_SLB_A 0 2 2 0.005

TR40_DRONE_A 0 3 3 0.01

TR40_SLB_A 0 1.5 1.5 0.24

TR41_DRONE_A 0 2 2 0.01

TR41_SLB_A 0 3 3 0.005

TR42_DRONE_A 0 3 3 0.005

TR42_SLB_A 0 3 3 0.005

TR42_SLB_A 3 6 3 0.005

TR43_DRONE_A 0 5 5 0.01

TR43_DRONE_A 5 10 5 0.02

TR43_DRONE_A 10 15 5 0.05

TR43_DRONE_A 15 17 2 0.01

TR43_DRONE_A 17 22 5 0.18

TR43_DRONE_A 22 27 5 0.06

TR43_DRONE_A 27 31 4 0.22

TR43_DRONE_A 31 34.5 3.5 0.04

TR43_SLB_A 0 5 5 0.005

TR43_SLB_A 5 10 5 0.005

TR43_SLB_A 10 15 5 0.005

TR44_DRONE_A 0 3 3 0.02

TR44_DRONE_A 3 5.5 2.5 0.03

TR44_DRONE_A 5.5 7 1.5 0.54

TR44_DRONE_A 7 12 5 0.08

TR44_SLB_A 0 5 5 0.005

TR45_DRONE_A 0 2.5 2.5 0.04

TR45_DRONE_A 2.5 5 2.5 0.01

TR45_DRONE_A 5 10 5 0.02

TR45_DRONE_A 10 15 5 0.04

TR45_DRONE_A 15 19 4 0.01

TR45_DRONE_A 19 24 5 0.01

TR45_DRONE_A 24 28 4 0.04

TR45_DRONE_A 28 33 5 0.03

TR45_DRONE_A 33 38 5 0.01

TR45_DRONE_A 38 43 5 0.01

TR45_SLB_A 0 5 5 0.2

TR46_DRONE_A 0 5 5 0.02



Hole From (m)

To (m)

Interval Au

(g/t)

TR46_DRONE_A 5 8.5 3.5 0.03

TR46_DRONE_A 8.5 12.5 4 0.04

TR46_SLB_A 0 5 5 0.01

TR47_SLB_A 0 2 2 0.01

TR48_SLB_A 0 3 3 0.005

TR48_SLB_A 3 8 5 0.01

TR49_SLB_A 0 5 5 0.005

TR49_SLB_A 5 8.5 3.5 0.005

TR50_SLB_A 0 3 3 0.005

TR51_SLB_A 0 2 2 0.04

TR52_SLB_A 0 2 2 0.005

TR53_SLB_A 0 3 3 0.005

TR54_SLB_A 0 3 3 0.005

TR55_SLB_A 0 4 4 0.03

TR56_SLB_A 0 2 2 0.02

TR56_SLB_A 2 6 4 0.01

TR56_SLB_A 6 11 5 0.02

TR57_SLB_A 0 5 5 0.12

TR57_SLB_A 5 10 5 0.02

TR57_SLB_A 10 13 3 0.04

TR57_SLB_A 13 17 4 0.01

TR57_SLB_A 17 22 5 0.07

TR57_SLB_A 22 25 3 0.64

TR57_SLB_A 25 30 5 0.13

TR57_SLB_A 30 35 5 0.07

TR57_SLB_A 35 39 4 0.19

TR58_SLB_A 0 4 4 0.05

TR59_SLB_A 0 2 2 0.27

TR60_SLB_A 0 5 5 0.04

TR60_SLB_A 5 8 3 0.49

TR60_SLB_A 8 10.5 2.5 0.01

TR60_SLB_A 10.5 12.5 2 0.01

TR60_SLB_A 12.5 15 2.5 0.02

TR60_SLB_A 15 19 4 0.01

TR60_SLB_A 19 21 2 0.07

TR61_SLB_A 0 5 5 0.005

TR62_SLB_A 0 5 5 0.01

TR62_SLB_A 5 10 5 0.005

TR63_SLB_A 0 5 5 0.02

TR63_SLB_A 5 7 2 0.05

TR64_SLB_A 0 4 4 0.005

TR65_SLB_A 0 2.5 2.5 0.01

TR66_SLB_A 0 5 5 0.005

TR66_SLB_A 5 10 5 0.005

TR67_SLB_A 0 2 2 0.005

TR68_SLB_A 0 4 4 0.005

TR68_SLB_A 4 9 5 0.005

TR69_SLB_A 0 5 5 0.005

TR70_SLB_A 0 5 5 0.005

TR71_SLB_A 0 5 5 0.005

Hole From (m)

To (m)

Interval Au

(g/t)

TR72_SLB_A 0 5 5 0.005

TR72_SLB_A 5 9 4 0.005

TR72_SLB_A 9 14 5 0.02

TR72_SLB_A 14 19 5 0.07

TR72_SLB_A 19 24 5 0.16

TR72_SLB_A 24 29 5 0.02

TR72_SLB_A 29 33 4 4.61

TR72_SLB_A 33 36 3 1.52

TR72_SLB_A 36 37.5 1.5 2.12

TR72_SLB_A 37.5 42 4.5 0.13

TR72_SLB_A 42 47 5 1.71

TR72_SLB_A 47 50 3 0.34

TR72_SLB_A 50 55 5 1.18

TR72_SLB_A 55 60 5 0.01

TR72_SLB_A 60 63 3 0.04

TR72_SLB_A 63 65 2 0.03

TR72_SLB_A 65 69 4 0.02

TR72_SLB_A 69 70.5 1.5 0.72

TR73_SLB_A 0 4 4 0.02

TR73_SLB_A 4 6 2 0.15

TR73_SLB_A 6 9 3 0.02

TR74_SLB_A 0 3 3 0.23

TR75_SLB_A 0 4 4 0.005

TR75_SLB_A 4 7 3 0.16

TR75_SLB_A 7 10 3 0.01

TR76_SLB_A 0 1.5 1.5 0.07

TR77_SLB_A 0 5 5 0.005

TR77_SLB_A 5 10 5 0.02

TR77_SLB_A 10 13 3 0.02

TR77_SLB_A 13 17 4 0.02

TREXT_TOROBL_A 0 1 1 0.005

TREXT_TOROBL_B 0 1 1 0.005

TREXT_TOROBL_C 0 1 1 0.005

TREXT_TOROBL_D 0 0.6 0.6 1.15

TREXT_TOROBL_E 0 1 1 0.005

TREXT_TOROBL_F 0 1 1 0.03

TREXT_TOROBL_G 0 1.2 1.2 0.01

TREXT_TOROBL_H 0 1 1 0.005

TREXT_TOROBL_I 0 1.2 1.2 0.005

TREXT_TOROBL_J 0 1 1 0.01

TREXT_TOROBL_K 0 1 1 0.005

TREXT_TOROBL_L 0 1 1 0.005

TREXT_TOROBL_M 0 1 1 0.005

TRGUL_TOROBL_A 0 2 2 0.005

TRGUL_TOROBL_B 0 1.5 1.5 0.005

TRGUL_TOROBL_C 0 1.2 1.2 0.005

TRGUL_TOROBL_D 0 2.5 2.5 0.005

TRGUL_TOROBL_E 0 1.2 1.2 0.005

TRGUL_TOROBL_F 0 1.2 1.2 0.01

TRGUL_TOROBL_G 0 1.5 1.5 0.55



Tesoro Trenches Survey


azimuth Instrument

TR01_DRONE_A 0 -45 170

TR01_DRONE_A 51 -45 170

TR01_SLB_A 0 10 75

TR01_SLB_A 48 10 75

TR01_TOROBL_A 0 -45 220

TR01_TOROBL_A 4.2 -45 220

TR01_TOROBL_A 9.2 -30 260

TR01_TOROBL_A 10.7 -30 220

TR01_TOROBL_A 15.7 -30 260

TR01_TOROBL_A 19.2 -20 230

TR01_TOROBL_A 22.5 -20 260

TR01_TOROBL_A 25.8 -20 260

TR01_TOROBL_A 26.8 -20 270

TR01_TOROBL_A 30.6 -20 200

TR01_TOROBL_A 33.1 -20 210

TR01_TOROBL_A 36.5 -20 260

TR01_TOROBL_A 41.5 -20 300

TR01_TOROBL_A 43 -20 310

TR01_TOROBL_A 48 -20 265

TR01_TOROBL_A 53 -30 280

TR01_TOROBL_A 55.8 -30 230

TR01_TOROBL_A 58.1 -30 280

TR01_TOROBL_A 63.1 -20 200

TR01_TOROBL_A 68.1 -20 200

TR01_TOROBL_A 73.1 -20 190

TR01_TOROBL_A 78.1 -20 220

TR01_TOROBL_A 83.1 -20 230

TR01_TOROBL_A 88.1 -20 230

TR01_TOROBL_A 93.1 -20 240

TR01_TOROBL_A 98.1 -20 160

TR01_TOROBL_A 103.1 -20 200

TR01_TOROBL_A 108.1 -20 170

TR01_TOROBL_A 113.1 -20 185

TR01_TOROBL_A 114.7 -30 270

TR01_TOROBL_A 118 -30 230

TR01_TOROBL_A 119 -30 230

TR01_TOROBL_A 120.4 -30 210

TR01_TOROBL_A 121.9 -30 240

TR01_TOROBL_A 124.1 -20 180

TR01_TOROBL_A 126.4 -20 170

TR01_TOROBL_A 131.4 -20 200

TR01_TOROBL_A 134.4 -20 150

TR01_TOROBL_A 139.4 -20 200

TR01_TOROBL_A 144.4 -20 180

TR01_TOROBL_A 147.7 -20 190

TR01_TOROBL_A 151.7 -20 140

TR01_TOROBL_A 156.7 -20 130

TR01_TOROBL_B 0 -20 190


azimuth Instrument

TR01_TOROBL_B 5 -20 190

TR01_TOROBL_B 10 -20 180

TR01_TOROBL_B 15 -20 185

TR01_TOROBL_B 20 -20 180

TR01_TOROBL_B 25 -20 210

TR01_TOROBL_B 30 -20 190

TR01_TOROBL_B 33 -20 190

TR01_TOROBL_B 38 -20 180

TR01_TOROBL_B 43 -20 170

TR01_TOROBL_B 48 -30 160

TR01_TOROBL_B 53 -40 130

TR01_TOROBL_B 58 -20 185

TR01_TOROBL_B 63 -20 190

TR01_TOROBL_B 68 -20 150

TR01_TOROBL_B 73 -20 200

TR01_TOROBL_B 78 -20 200

TR01_TOROBL_B 83 -45 190

TR01_TOROBL_B 88 -30 185

TR01_TOROBL_B 91.5 -30 185

TR01_TOROBL_B 94.5 -30 240

TR01_TOROBL_B 99.5 -30 210

TR01_TOROBL_B 104.5 -30 240

TR01N_COQ_A 0 -30 270

TR01N_COQ_A 5 -30 270

TR01N_COQ_A 9 -30 280

TR01N_COQ_A 11 -30 270

TR01N_COQ_A 13.5 -30 280

TR01N_COQ_B 0 -30 290

TR01N_COQ_C 0 -45 270

TR01N_COQ_C 4 -45 270

TR01N_COQ_C 8.5 -60 270

TR01N_COQ_C 10 -60 310

TR01N_COQ_C 13.5 -60 280

TR01N_COQ_C 14.5 -60 290

TR01N_COQ_C 17.5 -60 300

TR01N_COQ_C 21 -45 340

TR01N_COQ_C 26 -60 300

TR01N_COQ_D 0 -30 250

TR01N_COQ_D 5 -30 250

TR01W_COQ_A 0 -10 210

TR01W_COQ_A 5 -10 210

TR01W_COQ_A 10 -10 210

TR01W_COQ_A 15 -30 180

TR01W_COQ_A 20 -30 170

TR01W_COQ_A 25 40 85

TR01W_COQ_A 30 40 30

TR01W_COQ_A 35 -5 95

TR01W_COQ_A 40 -5 110

TR01W_COQ_A 45 -5 95

TR01W_COQ_A 50 -5 100




azimuth Instrument

TR01W_COQ_B 0 -5 5

TR01W_COQ_B 5 -5 90

TR01W_COQ_B 10 -5 150

TR01W_COQ_B 15 -5 160

TR02_DRONE_A 0 30 170

TR02_DRONE_A 73.5 30 170

TR02_SLB_A 0 10 75

TR02_SLB_A 68 10 75

TR02_TOROBL_A 0 -30 90


TR02_TOROBL_A 10 -30 90

TR02_TOROBL_A 15 -30 90

TR02_TOROBL_A 18 -50 90

TR02_TOROBL_A 22 -20 50

TR02_TOROBL_A 27 -30 80

TR02_TOROBL_A 32 -30 100

TR02_TOROBL_A 33.7 -30 100

TR02_TOROBL_A 38.7 -30 100

TR02_TOROBL_A 43.7 -30 95

TR02_TOROBL_B 0 60 90



TR02_TOROBL_B 15 60 140


TR02N_COQ_A 0 -15 240

TR02N_COQ_A 4.3 -15 240

TR02N_COQ_A 7.8 -15 240

TR02N_COQ_A 12.6 -10 240

TR02N_COQ_A 14.4 -10 240

TR02N_COQ_A 16.6 -10 270

TR02N_COQ_B 0 -45 290

TR02N_COQ_B 11.5 -45 290

TR02W_COQ_A 0 -30 170

TR02W_COQ_A 5 -30 170

TR02W_COQ_A 10 -20 170

TR02W_COQ_A 15 -20 190

TR02W_COQ_A 20 -20 130

TR02W_COQ_A 25 -10 210

TR02W_COQ_A 30 -10 160

TR02W_COQ_A 35 -40 200

TR02W_COQ_B 0 -10 180

TR02W_COQ_B 5 -10 180

TR02W_COQ_B 10 -20 190

TR02W_COQ_B 15 -30 210

TR02W_COQ_B 20 -40 170

TR02W_COQ_B 25 -20 120

TR02W_COQ_B 30 -45 185

TR02W_COQ_B 35 -45 190

TR02W_COQ_B 40 -30 180

TR02W_COQ_C 0 -30 220


azimuth Instrument

TR02W_COQ_C 5 -30 220

TR02W_COQ_C 10 -50 215

TR02W_COQ_C 15 -50 190

TR03_DRONE_A 0 -30 240

TR03_DRONE_A 29.5 -30 240

TR03_SLB_A 0 0 75

TR03_SLB_A 181 0 75

TR03_TOROBL_A 0 -30 180

TR03_TOROBL_A 5 -30 180

TR03_TOROBL_A 10 -30 180

TR03_TOROBL_A 15 -45 190

TR03_TOROBL_A 20 -45 230

TR03_TOROBL_A 25 -45 260

TR03_TOROBL_A 30 30 250

TR03_TOROBL_A 35 45 260

TR03N_COQ_A 0 -20 210

TR03N_COQ_B 0 -10 210

TR03N_COQ_B 5 -10 210

TR03N_COQ_B 10 -10 190

TR03N_COQ_B 14.5 -10 200

TR03N_COQ_B 19.5 -20 240

TR03N_COQ_B 24.5 -20 210

TR03N_COQ_B 25.8 -20 230

TR03N_COQ_B 27 -20 220

TR03N_COQ_C 0 5 235

TR03N_COQ_C 84 5 235

TR03W_COQ_A 0 -45 180

TR03W_COQ_A 5 -45 180

TR03W_COQ_A 10 -45 200

TR03W_COQ_A 15 -45 180

TR03W_COQ_A 20 -45 180

TR03W_COQ_A 25 -45 190

TR03W_COQ_A 28 -45 190

TR03W_COQ_A 31 -45 180

TR03W_COQ_A 34 -30 180

TR03W_COQ_A 38 -30 230

TR03W_COQ_A 43 -30 210

TR03W_COQ_A 44.2 -30 140

TR03W_COQ_A 45.4 -30 260

TR03W_COQ_B 0 45 240

TR03W_COQ_B 1.5 45 240

TR03W_COQ_B 4 45 190

TR03W_COQ_B 8 45 190

TR03W_COQ_B 13 30 190

TR03W_COQ_B 17 30 240

TR03W_COQ_B 22 30 190

TR03W_COQ_B 23.5 -30 180

TR03W_COQ_B 27 -30 200

TR03W_COQ_B 30 -30 280

TR03W_COQ_B 35 -30 260




azimuth Instrument

TR03W_COQ_B 40 -30 250

TR03W_COQ_B 45 -30 250

TR03W_COQ_B 47 -30 240

TR03W_COQ_B 52 -30 250

TR03W_COQ_B 57 -10 280

TR03W_COQ_B 62 -30 230

TR03W_COQ_B 66 -30 230

TR03W_COQ_B 68.5 -30 230

TR03W_COQ_B 72 -30 260

TR03W_COQ_B 74 -30 270

TR03W_COQ_B 79 -30 270

TR03W_COQ_B 84 -20 260

TR03W_COQ_B 89 -20 270

TR03W_COQ_B 92 -20 290

TR03W_COQ_B 97 -20 290

TR03W_COQ_B 102 -20 260

TR03W_COQ_B 107 -20 260

TR03W_COQ_B 110 -30 200

TR03W_COQ_B 111 -30 180

TR03W_COQ_B 116 -30 210

TR03W_COQ_B 121 -30 250

TR03W_COQ_B 126 -30 270

TR03W_COQ_B 131 -30 260

TR03W_COQ_B 136 -30 260

TR03W_COQ_B 138 -30 250

TR03W_COQ_B 143 -30 220

TR03W_COQ_B 148 -30 210

TR03W_COQ_C 0 30 185

TR03W_COQ_C 5 30 185

TR03W_COQ_C 7.5 30 185

TR03W_COQ_C 12.5 30 190

TR03W_COQ_C 15.5 30 200

TR03W_COQ_C 20.5 30 210

TR03W_COQ_C 25.5 30 210

TR04_DRONE_A 0 -30 200

TR04_DRONE_A 32 -30 200

TR04_SLB_A 0 -20 160

TR04_SLB_A 21 -20 160

TR04_TOROBL_A 0 -30 270

TR04_TOROBL_A 3.8 -30 270

TR04_TOROBL_A 8.8 -30 270

TR04_TOROBL_A 13.8 -30 270

TR04_TOROBL_A 18.8 -30 270

TR04_TOROBL_A 23.8 -45 270

TR04_TOROBL_A 28.8 -45 240

TR04_TOROBL_A 32.8 -45 250

TR04_TOROBL_A 34.3 -45 230

TR04_TOROBL_A 36.3 -30 260

TR04_TOROBL_A 37.8 -30 240

TR04_TOROBL_A 42.8 -30 200


azimuth Instrument

TR04_TOROBL_A 47.8 -30 260

TR04_TOROBL_A 52.8 -30 265

TR04_TOROBL_A 55.3 -30 270



TR04_TOROBL_B 10 30 260

TR04_TOROBL_B 15 30 280

TR04_TOROBL_B 18 30 240

TR04_TOROBL_B 19.5 30 300

TR04N_COQ_A 0 -5 218

TR04N_COQ_A 3 -5 218

TR05_DRONE_A 0 -45 210

TR05_DRONE_A 9 -45 210

TR05_SLB_A 0 -10 160

TR05_SLB_A 205 -10 160



TR05_TOROBL_A 10 -30 80

TR05_TOROBL_A 15 -30 90





TR05_TOROBL_B 15.5 30 60

TR05_TOROBL_B 18.5 30 70

TR05_TOROBL_B 23.5 30 140

TR05_TOROBL_B 28.5 30 40

TR05_TOROBL_B 33.5 -30 50

TR05N_COQ_A 0 -5 250

TR05N_COQ_A 25.8 -5 250

TR06_DRONE_A 0 -30 210

TR06_DRONE_A 15 -30 210

TR06_SLB_A 0 40 160

TR06_SLB_A 5 40 160

TR06_TOROBL_A 0 70 70



TR06_TOROBL_A 15 70 100


TR06_TOROBL_A 21.5 45 130




TR06_TOROBL_A 38 -60 90

TR06_TOROBL_A 41.5 -60 90

TR06_TOROBL_A 44.5 -60 90

TR06_TOROBL_A 46.5 -60 90

TR06N_COQ_A 0 -30 270

TR06N_COQ_A 21.7 -30 270

TR07_DRONE_A 0 -5 210




azimuth Instrument

TR07_DRONE_A 35.5 -5 210

TR07_SLB_A 0 45 160

TR07_SLB_A 15 45 160

TR07_TOROBL_A 0 -30 210

TR07_TOROBL_A 3.5 -30 210

TR07_TOROBL_B 5 -30 180

TR07_TOROBL_B 10 -30 210

TR07_TOROBL_B 15 -30 185

TR07_TOROBL_B 20 -30 180


TR07_TOROBL_B 27.5 -30 180

TR07_TOROBL_B 32.5 -30 180

TR07_TOROBL_B 37.5 -30 175

TR07_TOROBL_B 42.5 -30 170

TR07_TOROBL_B 47.5 -30 200

TR07_TOROBL_B 52.5 -30 170

TR07_TOROBL_B 57.5 -30 200

TR07_TOROBL_B 62.5 66 30

TR07_TOROBL_B 65.5 -30 180

TR07_TOROBL_B 70.5 -30 190

TR07_TOROBL_B 75.5 -30 190

TR07_TOROBL_B 80.5 -60 160

TR07_TOROBL_B 85.5 -60 160

TR07_TOROBL_B 90.5 -60 160

TR07_TOROBL_B 95.5 -60 180

TR07_TOROBL_B 100.5 -60 180

TR07_TOROBL_B 105.5 108 60

TR07N_COQ_A 0 -20 270

TR07N_COQ_A 13 -20 270

TR08_DRONE_A 0 -10 270

TR08_DRONE_A 59.5 -10 270

TR08_SLB_A 0 10 160

TR08_SLB_A 11 10 160

TR08N_COQ_A 0 -5 250

TR08N_COQ_A 44.5 -5 250

TR09_DRONE_A 0 10 270

TR09_DRONE_A 95 10 270

TR09_SLB_A 0 5 160

TR09_SLB_A 6 5 160

TR09N_COQ_A 0 -45 130

TR09N_COQ_A 10 -45 130

TR10_DRONE_A 0 -30 240

TR10_DRONE_A 15.5 -30 240

TR10_SLB_A 0 5 160

TR10_SLB_A 5 5 160

TR10N_COQ_A 0 30 125

TR10N_COQ_A 65.7 30 125

TR11_DRONE_A 0 -5 250

TR11_DRONE_A 5 -5 250

TR11_SLB_A 0 30 160


azimuth Instrument

TR11_SLB_A 15.5 30 160

TR11N_COQ_A 0 0 215

TR11N_COQ_A 30 0 215

TR12_DRONE_A 0 -5 250

TR12_DRONE_A 79 -5 250

TR12_SLB_A 0 30 160

TR12_SLB_A 3 30 160

TR12N_COQ_A 0 -45 310

TR12N_COQ_A 25.5 -45 310

TR13_DRONE_A 0 -20 230

TR13_DRONE_A 84 -20 230

TR13_SLB_A 0 10 160

TR13_SLB_A 5 10 160

TR13N_COQ_A 0 30 130

TR13N_COQ_A 34.5 30 130

TR14_DRONE_A 0 -5 230

TR14_DRONE_A 72.5 -5 230

TR14_SLB_A 0 -15 160

TR14_SLB_A 8.5 -15 160

TR14N_COQ_A 0 20 130

TR14N_COQ_A 24 20 130

TR15_DRONE_A 0 -20 240

TR15_DRONE_A 27 -20 240

TR15_SLB_A 0 -30 160

TR15_SLB_A 5 -30 160

TR15N_COQ_A 0 -60 300

TR15N_COQ_A 38 -60 300

TR16_DRONE_A 0 -10 280

TR16_DRONE_A 79.5 -10 280

TR16_SLB_A 0 -60 160

TR16_SLB_A 5 -60 160

TR16N_COQ_A 0 -30 330

TR16N_COQ_A 41.5 -30 330

TR17_DRONE_A 0 -10 210

TR17_DRONE_A 139 -10 210

TR17_SLB_A 0 -50 160

TR17_SLB_A 5 -50 160

TR17N_COQ_A 0 -45 320

TR17N_COQ_A 61 -45 320

TR18_DRONE_A 0 -5 250

TR18_DRONE_A 40 -5 250

TR18_SLB_A 0 -45 160

TR18_SLB_A 3 -45 160

TR18N_COQ_A 0 -5 190

TR18N_COQ_A 19.5 -5 190

TR19_DRONE_A 0 -5 250

TR19_DRONE_A 13.5 -5 250

TR19_SLB_A 0 -10 160

TR19_SLB_A 3 -10 160

TR19N_COQ_A 0 0 210




azimuth Instrument

TR19N_COQ_A 10 0 210

TR20_DRONE_A 0 -15 200

TR20_DRONE_A 3 -15 200

TR20_SLB_A 0 10 160

TR20_SLB_A 7.5 10 160

TR20N_COQ_A 0 5 190

TR20N_COQ_A 8 5 190

TR21_DRONE_A 0 -20 200

TR21_DRONE_A 2 -20 200

TR21_SLB_A 0 -20 160

TR21_SLB_A 1.5 -20 160

TR21N_COQ_A 0 -5 230

TR21N_COQ_A 12 -5 230

TR22_DRONE_A 0 -30 190

TR22_DRONE_A 2 -30 190

TR22_SLB_A 0 60 160

TR22_SLB_A 2.5 60 160

TR22N_COQ_A 0 -5 230

TR22N_COQ_A 43 -5 230

TR23_DRONE_A 0 -30 200

TR23_DRONE_A 2 -30 200

TR23_SLB_A 0 50 160

TR23_SLB_A 29 50 160

TR24_DRONE_A 0 -5 200

TR24_DRONE_A 2 -5 200

TR24_SLB_A 0 30 160

TR24_SLB_A 1.5 30 160

TR25_DRONE_A 0 -5 200

TR25_DRONE_A 3 -5 200

TR25_SLB_A 0 45 160

TR25_SLB_A 3 45 160

TR26_DRONE_A 0 -5 200

TR26_DRONE_A 2 -5 200

TR26_SLB_A 0 30 160

TR26_SLB_A 2 30 160

TR27_DRONE_A 0 -5 200

TR27_DRONE_A 3 -5 200

TR27_SLB_A 0 30 160

TR27_SLB_A 3 30 160

TR28_DRONE_A 0 -5 200

TR28_DRONE_A 6 -5 200

TR28_SLB_A 0 0 160

TR28_SLB_A 1.5 0 160

TR29_DRONE_A 0 -10 200

TR29_DRONE_A 3 -10 200

TR29_SLB_A 0 -10 160

TR29_SLB_A 2 -10 160

TR30_DRONE_A 0 -10 230

TR30_DRONE_A 3 -10 230

TR30_SLB_A 0 -40 160


azimuth Instrument

TR30_SLB_A 4 -40 160

TR31_DRONE_A 0 -10 200

TR31_DRONE_A 3 -10 200

TR31_SLB_A 0 -40 160

TR31_SLB_A 5 -40 160

TR32_DRONE_A 0 -10 200

TR32_DRONE_A 3 -10 200

TR32_SLB_A 0 -40 160

TR32_SLB_A 5 -40 160

TR33_DRONE_A 0 -10 200

TR33_DRONE_A 2 -10 200

TR33_SLB_A 0 -45 160

TR33_SLB_A 3 -45 160

TR34_DRONE_A 0 -10 230

TR34_DRONE_A 3 -10 230

TR34_SLB_A 0 0 160

TR34_SLB_A 4 0 160

TR35_DRONE_A 0 -15 200

TR35_DRONE_A 3 -15 200

TR35_SLB_A 0 30 160

TR35_SLB_A 2 30 160

TR36_DRONE_A 0 -20 200

TR36_DRONE_A 3 -20 200

TR36_SLB_A 0 30 160

TR36_SLB_A 4 30 160

TR37_DRONE_A 0 -5 200

TR37_DRONE_A 2 -5 200

TR37_SLB_A 0 20 160

TR37_SLB_A 2 20 160

TR38_DRONE_A 0 -5 200

TR38_DRONE_A 2 -5 200

TR38_SLB_A 0 10 180

TR38_SLB_A 4 10 180

TR39_DRONE_A 0 -5 220

TR39_DRONE_A 2 -5 220

TR39_SLB_A 0 -30 160

TR39_SLB_A 2 -30 160

TR40_DRONE_A 0 -30 250

TR40_DRONE_A 3 -30 250

TR40_SLB_A 0 -10 160

TR40_SLB_A 1.5 -10 160

TR41_DRONE_A 0 -10 235

TR41_DRONE_A 2 -10 235

TR41_SLB_A 0 -45 160

TR41_SLB_A 3 -45 160

TR42_DRONE_A 0 0 235

TR42_DRONE_A 3 0 235

TR42_SLB_A 0 -45 160

TR42_SLB_A 6 -45 160

TR43_DRONE_A 0 -5 280




azimuth Instrument

TR43_DRONE_A 34.5 -5 280

TR43_SLB_A 0 45 160

TR43_SLB_A 15 45 160

TR44_DRONE_A 0 -10 180

TR44_DRONE_A 12 -10 180

TR44_SLB_A 0 30 340

TR44_SLB_A 5 30 340

TR45_DRONE_A 0 -5 230

TR45_DRONE_A 43 -5 230

TR45_SLB_A 0 30 340

TR45_SLB_A 5 30 340

TR46_DRONE_A 0 -5 230

TR46_DRONE_A 12.5 -5 230

TR46_SLB_A 0 30 340

TR46_SLB_A 5 30 340

TR47_SLB_A 0 0 340

TR47_SLB_A 2 0 340

TR48_SLB_A 0 -5 340

TR48_SLB_A 8 -5 340

TR49_SLB_A 0 -5 340

TR49_SLB_A 8.5 -5 340

TR50_SLB_A 0 0 340

TR50_SLB_A 3 0 340

TR51_SLB_A 0 0 340

TR51_SLB_A 2 0 340

TR52_SLB_A 0 0 340

TR52_SLB_A 2 0 340

TR53_SLB_A 0 0 340

TR53_SLB_A 3 0 340

TR54_SLB_A 0 45 340

TR54_SLB_A 3 45 340

TR55_SLB_A 0 10 340

TR55_SLB_A 4 10 340

TR56_SLB_A 0 30 160

TR56_SLB_A 11 30 160

TR57_SLB_A 0 20 160

TR57_SLB_A 39 20 160

TR58_SLB_A 0 0 160

TR58_SLB_A 4 0 160

TR59_SLB_A 0 10 160

TR59_SLB_A 2 10 160

TR60_SLB_A 0 20 180

TR60_SLB_A 21 20 180

TR61_SLB_A 0 -10 160

TR61_SLB_A 5 -10 160

TR62_SLB_A 0 -10 160

TR62_SLB_A 10 -10 160

TR63_SLB_A 0 20 160

TR63_SLB_A 7 20 160

TR64_SLB_A 0 -10 160


azimuth Instrument

TR64_SLB_A 4 -10 160

TR65_SLB_A 0 0 160

TR65_SLB_A 2.5 0 160

TR66_SLB_A 0 -20 150

TR66_SLB_A 10 -20 150

TR67_SLB_A 0 30 160

TR67_SLB_A 2 30 160

TR68_SLB_A 0 30 160

TR68_SLB_A 9 30 160

TR69_SLB_A 0 -60 150

TR69_SLB_A 5 -60 150

TR70_SLB_A 0 10 220

TR70_SLB_A 5 10 220

TR71_SLB_A 0 45 160

TR71_SLB_A 5 45 160

TR72_SLB_A 0 -20 160

TR72_SLB_A 70.5 -20 160

TR73_SLB_A 0 0 160

TR73_SLB_A 9 0 160

TR74_SLB_A 0 0 160

TR74_SLB_A 3 0 160

TR75_SLB_A 0 45 160

TR75_SLB_A 10 45 160

TR76_SLB_A 0 45 160

TR76_SLB_A 1.5 45 160

TR77_SLB_A 0 -10 160

TR77_SLB_A 17 -10 160

TREXT_TOROBL_A 0 -10 40

TREXT_TOROBL_B 0 -10 140

TREXT_TOROBL_C 0 -10 120

TREXT_TOROBL_D 0 -10 250

TREXT_TOROBL_E 0 -10 150

TREXT_TOROBL_F 0 -10 300

TREXT_TOROBL_G 0 -10 30

TREXT_TOROBL_H 0 -10 110

TREXT_TOROBL_I 0 -10 110

TREXT_TOROBL_J 0 -10 310

TREXT_TOROBL_K 0 -10 100

TREXT_TOROBL_L 0 -10 340

TREXT_TOROBL_M 0 -10 200

TRGUL_TOROBL_A 0 -10 310

TRGUL_TOROBL_B 0 -10 350

TRGUL_TOROBL_C 0 -10 200

TRGUL_TOROBL_D 0 -10 60

TRGUL_TOROBL_E 0 -10 10

TRGUL_TOROBL_F 0 -10 10

TRGUL_TOROBL_G 0 -10 350



Appendix 6: JORC Table 1

Section 1: Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections)

Criteria JORC Code explanation Commentary

Sampling techniques

Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as downhole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling.

El Zorro Project

Historical drilling by Coeur d’Alene Mines Corporation (CDE) comprised 17 rotary air blast (RAB) holes (2,225 m), 24 Tricone holes (2,077 m), 25 reverse circulation (RC) holes (2,737 m) and six diamond holes (790 m). 175 m of adit sampling and 410 geochemical samples were collected. CSA Global Pty Ltd (CSA Global) consider the quality of the CDE drilling sampling to be poor with a lack of industry standards applied. CDE data is only used as a general guide for exploration.

CDE geochemical sampling quality is unknown.

Tesoro Resources Limited (Tesoro) completed 16 diamond drillholes for 6,065 m in 2017 and 2018 (ZDDH0001 to ZDDH0016) and 171 trenches for 4,008.2 m. Trenches were undertaken as continuous channel samples and Diamond drillholes were drilled with HQ. Sampling was half core at geologically defined and significant mineralisation boundaries.

CSA Global consider the Tesoro sampling methodologies to be appropriate for this style of mineralisation.

Espina Project

Colonial Resources SCM (Colonial) – numerous channel samples, grab samples and rock chip samples by the previous explorer were undertaken. The sample type is considered appropriate thought the quality is unknown. Biogeochemical sampling was also undertaken and the quality and representivity of the sampling is unknown. Fluid inclusion samples were collected and analysed.

Tesoro completed soil sampling, rock chip sampling and channel sampling. Sampling processes are considered appropriate for the narrow vein style of mineralisation.

Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.

El Zorro Project

CDE diamond drilling is recorded as being HQ. Sample size (i.e. half core) is not recorded. Sampling was on a metre-by-metre basis. Sampling for tricone, RC and RAB is not recorded (i.e. splitter, spear etc). Samples were also collected at 1 m intervals.

CDE undertook extensive sampling of the underground workings involving channel sampling of the adit walls, grab samples, some roof sampling. The details of the sampling methodology are unknown. Tesoro is using the assay results as a guide only and generating a new geological and mineralisation model.

Tesoro diamond drillholes were drilled with HQ. Sampling was half core at geological and significant mineralisation boundaries. CSA Global consider this appropriate for the style of mineralisation.

Espina Project

The representivity of the sampling by Colonial Resources is unknown. No drilling has been completed on the Espina property.




Tesoro completed soil sampling, rock chip sampling and channel sampling. Sampling processes are considered appropriate for the narrow vein style of mineralisation. Channel sampling sites were painted across the sample site by Tesoro to the width of the vein. Soil sampling was observed by CSA Global and considered appropriate with cleaning of sieves and C horizon sampled. Surficial material was removed from the sample.

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.

El Zorro Project

CDE drilling was predominately HQ (as far as can be determined) and sampled on 1 m intervals. Methods of analysis are unknown. As described above, tricone, RC and RAB are types of percussion drilling used by CDE to obtain 1 m samples for analysis. According to Swensson (2016), drillholes encountered contamination due to the presence of groundwater during drilling.

The methodology of CDE geochemical programs is unknown.

The assay techniques for CDE programs is unknown.

The CDE drilling and geochemical data is used for general exploration targeting only.

CSA Global consider the exploration completed by CDE as suitable as a guide only for targeting rather than a definitive verifiable exploration test.

Tesoro diamond drilling was used to obtain half-core samples of various lengths (minimum 0.25 m), from which 0.5 kg of material was pulverised passing 200 mesh to produce a 50 g charge for fire assay fusion with a gravimetric finish. Multi-element assays were completed by four-acid digest with a 2.5 g charge. CSA Global consider these appropriate assay techniques.

Espina Project

No drilling has been completed on the property.

Colonial completed rock chip sampling and soil sampling on the property. The details of the rock chip and soil sampling methodology are unknown. The soil sampling analysis was by aqua regia. Subdued or below detection assay results were considered a function of the analytical technique and a four-acid digest is recommended by CSA Global for future analysis.

Tesoro completed a soil sampling program of 1,053 samples. Sampling was by industry standard technique as observed by CSA Global in the field including:

• Location of the station using handheld global positioning system (GPS)

• Shallow hole is made with a hand shovel to penetrate below the organic matter-rich horizon and scree

• Soils samples are taken from the C horizon

• Sieving with 180-micron sieve

• Samples of up to 1 kg of soil are packed in plastic bags with assay-number tickets stapled to the bag

• Cleaning of the sieves with hand brush.




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.).

El Zorro Project

CDE drilling comprised 17 RAB holes (2,225 m), 24 tricone holes (2,077 m), 25 RC holes (2,737 m) and six diamond holes (790 m). Details of hole diameter, sampling and bit types is unknown. Tesoro is not relying on data for estimations only general targeting.

Tesoro completed 16 diamond drillholes for 6,065 m in 2017 and 2018. Diamond drillholes were drilled with HQ. Sampling was half core at geological and significant mineralisation boundaries. Standard tube was used.

Espina Project

No drilling has been completed at this property.

Drill sample recovery

Method of recording and assessing core and chip sample recoveries and results assessed.

El Zorro Project

CDE drilling: Comprised 17 RAB holes (2,225 m), 24 tricone holes (2,077 m), 25 RC holes (2,737 m) and six diamond holes (790 m).

Recoveries are described by Swensson (2016): Method of recovery is not given however states, RAB recovery is 40–50% in dry areas and “improving where wet”. Tricone recovery is described as 91.8%, RC drilling as 91.4%; diamond drill recoveries are not described.

El Zorro Project

Tesoro diamond drilling: Core recovery was estimated using the drillers recorded depth marks against the length of the core recovered. Reviewing the core photos, there are occasional shears/faults where core is broken. There is however no significant core loss.

Measures taken to maximise sample recovery and ensure representative nature of the samples.

El Zorro Project

CDE drilling: There is no information regarding the CDE drilling.

Tesoro diamond drilling: A single tube system was employed and in general core recovery good. Some areas where core is broken could have been better reconstructed on review of the core photos. CSA Global recommend attention to reconstruction core in future drill programs.

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.

El Zorro Project

CDE drilling: Swensson (2016) indicated that there was a relationship between the type of percussion drilling by CDE and the recovery and the assay results with low recovery resulting in lower assay results. CSA Global does not have the underlying data for this but believes this is realistic though not quantifiable. Tesoro does not plan to use the assay data for anything other than general targeting.

Tesoro drilling: There appears to be no potential sample bias as there was no regular loss of core.




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.

El Zorro Project

CDE drilling: Not logged or recorded to a level suitable for resource estimates.

Tesoro drilling: Geological core logging to a resolution of 25 cm was undertaken with a record kept of, inter alia, colour, lithology, weathering, grain size, mineralisation, alteration, geotechnical characteristics etc. Diamond core is stored at the Company’s warehouse.

CSA Global consider the data to be of an appropriate level of detail to support a resource estimation.

Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography.

El Zorro Project

CDE drilling: Logging and photography is unavailable. Channel and sampling were undertaken at variable intervals.

Tesoro drilling: Logging of diamond core was qualitative. And diamond core was photographed.

The total length and percentage of the relevant intersections logged.

El Zorro Project

CDE drilling: Length, % of logging and other information is unknown.

Tesoro drilling: All drilled intervals were logged and recorded.

Subsampling techniques and sample preparation

If core, whether cut or sawn and whether quarter, half or all core taken.

El Zorro Project

CDE drilling: Cutting and sampling is unknown.

Tesoro drilling: Drill core was cut, and half core was collected for analytical analysis.

If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry.

El Zorro Project

CDE percussion drilling comprised 17 RAB holes (2,225 m), 24 tricone holes (2,077 m), 25 RC holes (2,737 m). Wet sampling is recorded in some holes. The method of sampling is unknown.

Tesoro did not complete any percussion drilling.

For all sample types, the nature, quality and appropriateness of the sample preparation technique.

El Zorro Project

CDE drilling: The nature and appropriateness for CDE are unknown.

Tesoro drilling: Collection of half core ensured the nature, quality and appropriateness of the collected sample.

The sample preparation of crushing half core at the lab to mm size prior to splitting off a 50 g charge (either by cone/quarter or riffle) for pulverisation provides an appropriate and representative sample for analysis.

Quality control procedures adopted for all subsampling stages to maximise representivity of samples.

El Zorro Project

CDE drilling: Quality control (QC) procedures for CDE are unknown

Tesoro drilling: Half core was collected for the entirety of the Tesoro drilling, as such there was consistency throughout the drilling. Core was logged by a qualified geoscientist. Each subsample is considered to be representative of the interval.

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.

El Zorro Project

CDE drilling: Descriptions of sampling and sub-sampling are unknown.

Tesoro drilling: Sampling of half core is representative of the in-situ material. There were field duplicate samples collected from the diamond core which irregular results.




Field drill core duplicates are irregular by nature and CSA Global and Cube Consulting (Cube) recommend using coarse reject material for to monitor the sample preparation.

Whether sample sizes are appropriate to the grain size of the material being sampled.

El Zorro Project:

CDE Drilling: descriptions of sample size is unknown

Tesoro drilling: sample sizes collected were considered appropriate to reasonably represent the material being tested.

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.

El Zorro Project

CDE drilling and geochemical sampling: Sample preparation and analytical techniques are unknown.

Tesoro drilling: Recent assays were undertaken at the accredited laboratories at Bureau Veritas, Santiago and ALS Santiago, both of which are fully certified. Core samples of various lengths were assayed (minimum 0.25 m) from which 0.5 kg of material was pulverised passing 200 mesh to produce a 50 g charge for fire assay fusion with gravimetric finish. Multi-element assays were completed by four-acid digest with a 2.5 g charge.

All techniques are appropriate for the element being determined.

Espina Project

Previous soil sampling by Colonial was undertaken by ACME labs for 36 elements using ICP emission spectroscopy and mass spectrometry. Results were generally subdued or disappointing and Tesoro consider an analytical technique with lower detection limits appropriate. CSA Global also recommend a review of sampling and perhaps orientation sampling over the known mineralisation to understand the geochemical response.

The geochemical methods for rock chip sampling and channel sampling are unknown.

The 2018 soil geochemistry program of 1,053 samples at Espina were undertaken by Tesoro using aqua regia digest which is a partial digest and appropriate for geochemical exploration. Plotting of assay data indicate some batch issues (where lines of data analyse abnormally high); however, in the opinion of CSA Global, these are not material to the identification of mineralised trends which are clearly defined.

Quality assurance/quality control (QAQC) data was monitored and reported by Cube. Reviewing the summary of results by Cube the overall survey is of reasonable quality and fit for purpose for geochemical exploration. In future programs, Cube make the following observations and recommendations:

• Certified reference material (CRM) insertion rate is low at 4% with only 45 CRMs in a total batch of 1,110 samples.

• Two CRMs CDN-CM-18 were reported as >1.0 for aqua regia Au-TL44 method; If inserting CRMs with grade into the sample stream, consider resetting the upper limit or request another lab method so that these CRMs are useable.




• CDN-CM-13 has a bias of 11.34% – this is considered acceptable because of the 100% passing but should be closely monitored in future should it worsen.

• CDN-BL-10 is a certified blank – these are of little value because they bypass the sample preparation stage at the laboratory – consider using coarse BLANK for future campaigns.

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.

Standard chemical analyses were used for grade determination. There was no reliance on determination of analysis by geophysical tools.

Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.

El Zorro Project

CDE drilling and geochemical sampling procedures and QAQC are unknown.

Tesoro drilling: QAQC procedures included the insertion of CRMs (5%) and blank material (2%), check samples (5%) and check assaying 5%.

Similar levels of QAQC are applied to channel and rock chip sampling whilst soil sampling is 2% each of standards, blanks, check samples and check assays and 1% grind checks.

Cube manage the database for Tesoro and note in its March 2018 quarterly report that the following issues were noted during the review:

• The CRM insertion rate is low at 6%

• No coarse reject or umpire duplicate sampling has been undertaken for the project

• There were issues identified for two CRMs across three lab jobs, which requires further investigation

• The other three CRMs performed well over the January to March period

• An issue was identified for one CRM within a multi-element lab job which requires further investigation.

Tesoro has implemented these procedures and they were applied to drilling of drillholes ZDDH0011 to ZDDH0018 and channel sampling. The QAQC report by Cube through this period of drilling notes the following:

Channel sampling

Analytical data for a total of 1,200 channel samples, which includes 74 CRMs, 36 blanks, along with 53 channel field duplicates, were reviewed by Cube:

• All blanks and CRMs performed well within expected range.

• The channel field duplicates were outside of expected range at 40.9% coefficient of variation (CV) for all 53 Au samples.

• While the CV is just outside of the acceptable limits for a field duplicate type, this can be attributed to the naturally high variability for Au within the project, the type of duplicate collected (channel) and the limited number of samples for review.

Drilling

Cube has reviewed the QAQC protocols and control assays as supplied (i.e. CRM samples and field duplicates) for all sample data at the El Zorro Project from January to August 2018.




Analytical data for a total of 3,508 diamond core samples, 270 CRMs, 163 blanks, along with 1,122 pulp duplicates and 106 quarter-core duplicates were reviewed.

For ALS Santiago 1,813 samples with 156 CRMs, 117 blank values and 106 quarter-core duplicates in 22 batches submitted to between June and July 2018 were evaluated, resulting in one failed sample removed (272 CRMs and blanks).

From Bureau Veritas, 1,695 original samples, with 83 CRM and 31 blank values were evaluated in 11 batches submitted between January and July 2018. This included three pulp duplicate jobs re-analysing 1,050 original samples, with 31 CRMs and 15 blanks, resulting in two failed samples removed (159 CRMs and blanks).

The laboratories used have generally demonstrated analytical accuracy at an acceptable level within 95% confidence limits. There were a number of handling and misidentification issues that were identified and rectified.

Although the QAQC is generally considered adequate, Cube recommend the following:

• The recommended insertion rate of client control samples is 15–20% of the sample batch submitted. It is currently a healthy 17%, which should be maintained.

• While there has been an improved insertion rate of 5% for core “duplicates” (quarter-core duplicate vs original half-core), the recommended core duplicate sample is to utilise a second sample of the coarse reject from the original half-core crushing rather than using quarter core. This also prevents wasted analysis by assisting the client in selecting duplicate samples from above the mineralised threshold. The review showed that of the 106 quarter-core duplicates taken, only 31 were mineralised (Au >0.10 ppm), the other 75 being un-mineralised, close to detection limits and of limited value.

• It is recommended that coarse reject samples be retained for all batches. Coarse rejects can be used as duplicate sample material to assess the precision and accuracy of the laboratory assays. It is recommended that any available coarse reject material within the mineralised zone of Au = >0.10 ppm be retrieved and utilised as a duplicate sample. Any check samples re-submitted to the primary or umpire laboratories should specify that the same sample preparation and assaying techniques are used as for the original sample with additional CRMs inserted in each batch submitted.

• Any samples that leave the primary laboratory are currently being weighed before despatch. This assists with identification between primary and CRM samples and the practice should be maintained

• For the three error affected batches containing failed CRMs, it is recommended that further checks be carried out on the coarse reject samples rather than existing pulps due to potential sample identification issues. This process will confirm the grade on any failed duplicate samples where a >120% difference was identified between the original and duplicate result.




• It is recommended that an umpire laboratory be used to test duplicates on a regular basis to determine if there is any assay bias at the primary laboratory. This would ideally be carried out on samples where Au = >0.10 ppm using a minimum rate of 1:20 mineralised samples (5%). CRMs and coarse blanks should be inserted at a rate of 1:10 samples (10%) submitted.

• An ore grade assay method should be used to determine the grade for any samples that breach the upper assay limits (i.e. Cu >10000 ppm).

• Pulp grind checks should be introduced for 1:20 samples per lab job to monitor sample preparation and compliance with the assay contract.

• Any future duplicate batches should contain a sufficient number of replacement CRMs to ensure there is no possible bias in CRM sample material size and to include adequate quality control coverage at regular intervals throughout the batch.

• It is recommended that CRMs CDN-CM-15, CDN-CM-18 and CDN-CM-21 be removed from the sample stream for future campaigns due to their demonstrated unreliability at two separate laboratories.

Verification of sampling and assaying

The verification of significant intersections by either independent or alternative company personnel.

El Zorro Project

CDE drilling and geochemical sampling intersections were partially verified by Tesoro drilling.

Tesoro drilling: A number of independent consulting geoscientists (Oliver, and Cooley) external to Tesoro have verified the intersections.

The use of twinned holes. Tesoro drilling – no twinned holes have been completed.

Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.

El Zorro Project

Tesoro drilling is digitally entered and stored following documented core handling protocols which have been reviewed by CSA Global. The protocols are considered adequate.

Discuss any adjustment to assay data. El Zorro Project

No adjustments were made to Tesoro drilling.

Espina Project

No adjustments were made to Tesoro geochemistry.

Location of data points

Accuracy and quality of surveys used to locate drillholes (collar and downhole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.

El Zorro Project

Tesoro drillhole collars have been surveyed accurately using differential GPS.

Specification of the grid system used. El Zorro Project

The grid system used PSAD56 19S.

Quality and adequacy of topographic control. El Zorro Project

The topography generated from the historical data has been used for the current control. A new topographic survey is planned.




Data spacing and distribution

Data spacing for reporting of Exploration Results.

El Zorro Project

Tesoro drillhole spacing is variable between 40 m and 200 m.

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.

El Zorro Project

The spacing of Tesoro drillholes is variable and satisfactory for reconnaissance level drilling. The holes are not intended to be used for resource estimates at this stage of exploration.

Whether sample compositing has been applied.

El Zorro Project

Sample composite was not employed.

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.

El Zorro Project

Tesoro drillholes were drilled across the interpreted strike of the mineralisation.

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.

El Zorro Project

Tesoro diamond drilling at various orientations does not reveal any bias regarding the orientation of the mineralised horizons.

Sample security The measures taken to ensure sample security. El Zorro and Espina Projects

Chain of Custody of digital data is managed by the Company. Physical material was stored on site and, when necessary, delivered to the assay laboratory. Thereafter laboratory samples were controlled by the nominated laboratory which to date has been Bureau Veritas Santiago. All sample collection was controlled by digital sample control file(s) and hardcopy ticket books.

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

No audits have been undertaken.



Section 2: Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section)


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.

Information regarding tenure is included in Appendix 1.

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 Concession is believed to be in good standing with the governing authority and there is no known impediment to operating in the area.

Exploration done by other parties

Acknowledgment and appraisal of exploration by other parties.

Little historical exploration has been undertaken in either project area.

El Zorro Project

CDE’s Chilean exploration division undertook activities on the Coquetas prospect, under an option agreement with the owners between April 1990 and January 1993.

Espina Project

Recent exploration commenced with Colonial in 2009 to 2014.

Geology Deposit type, geological setting and style of mineralisation.

El Zorro Project

The mineralisation model is to likely to be intrusive related gold deposit. The key characteristics that are consistent with this style deposit include:

• Low sulphide content, (typically <5%); reduced ore mineral assemblage that typically comprises pyrite and lacks primary magnetite or hematite

• Mineralisation occurs as sheeted vein deposits or stockwork assemblages and often combine gold with variably elevated Bi, W, As, Mo, Te, and/or Sb but low concentrations of base metals as seen in the initial four holes by Tesoro at El Zorro

• Restricted and commonly weak proximal hydrothermal alteration

• Intrusions of intermediate to felsic composition.

An alternative model is a high-level porphyry system such as gold-rich porphyry or epithermal system; however, the vein textures, mineralisation style, geochemical characteristics (granite fingerprint) and subdued alteration are not consistent with these styles of mineralisation.

Espina Project

The epithermal mineralisation style is low sulphidation to intermediate sulphidation similar to the The Alhué vein-type gold-silver-zinc deposits mined by Yamana Gold, 24 km to the south.

The Espina property lies along the northern margins of a broad zone of advanced argillic alteration which could be part of a much larger high sulphidation epithermal gold system or possibly a porphyry copper target.




Drillhole information

A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drillholes:

• easting and northing of the drillhole collar

• elevation or RL (Reduced Level – elevation above sea level in metres) of the drillhole collar

• dip and azimuth of the hole

• downhole length and interception depth

• 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.

See Appendix 3.

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.

El Zorro Project

No cutting of grades has been undertaken at this early stage of exploration drilling.

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.

El Zorro Project

All individual results are reported in Appendix 3. Weighted average results are included in the associated Section 2.8.2.

The assumptions used for any reporting of metal equivalent values should be clearly stated.

No metal equivalents are reported.

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 drillhole angle is known, its nature should be reported.

EL Zorro Project

The mineralisation forms sub-vertical sheeted veins and individual veins and may form plunging zones within the mineralised structures. Drilling by Tesoro has been undertaken to test these orientations.

If it is not known and only the downhole lengths are reported, there should be a clear statement to this effect (e.g. ‘downhole length, true width not known’).

EL Zorro Project

Exploration results from CDE and Tesoro are reported as downhole widths as the true width is not known with any certainty.

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 drillhole collar locations and appropriate sectional views.

Relevant maps and diagrams are included in the body of the report.

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.

Only drillhole assay intervals from CDE are available for reporting.

All assay results from Tesoro drilling are reported.




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.

All material exploration data is reported in the body of the report.

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).

El Zorro Project

Further work will be focused on drill testing the Coquetas mineralisation and additional prospects as defined in the work program. Core will be used for metallurgical testwork and resource modelling is planned.

Espina Project

The exploration program for the Espina Project includes detailed soil geochemical programs exploring along strike of key prospects on prospective structures hosting known mineralisation. Broader geochemistry will aim to detect hidden or poorly exposed mineralisation using low detection analytical techniques.

Other planned exploration includes trenching along strike of known mineralised structures to explore for extensions or repetitions that may have a subtle surface expression.

Based on the results of these exploration programs, a program of diamond drilling will test the most appropriate targets.

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

Diagrams have been included in the body of this report.

3571-05/2250444_9 284

ANNEXURE B – SOL IC ITOR ’S TENEMENT REPORT

BSVV Report - Tesoro Mining Chile SpA and Titles Dated October 28, 2019

Barros, Silva, Varela & Vigil Abogados Ltda. Av. Apoquindo 3500, 16th floor, Las Condes Postal Code 7550105 Chile Phone Number (main office): (56 2) 23070900 E-Mail address: [email protected] www.bsvv.cl

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INTRODUCTION

1.1 Purpose of this Report.

Our client Tesoro Resources Limited (ACN 618 093 306) (hereinafter “Tesoro”) has requested us to provide a report (“Report”), with relation to several matters related to 2 projects under development in Chile. The projects correspond to the El Zorro project, located in Caldera, Atacama Region, and La Espina project, located in Paine, Metropolitan Region (respectively “El Zorro Project” and “La Espina Project”, and jointly the “Projects”). The Report covers specifically the following matters:

(a) Corporate structure, incorporation and good standing of Tesoro Mining Chile SpA (“Tesoro Chile”) and the Projects’ respective companies in Chile, that holds the acquisition titles over the Projects;

(b) Existence, status and enforceability of the acquisition agreements over the Projects; and

(c) Ownership and good standing of the mining rights comprising the Projects.

This Report is being delivered in relation to the acquisition of 100% of the issued capital Tesoro by Plukka Limited (ACN 106 854 175) (ASX:PKA) (hereinafter “Plukka”), as agreed in the share purchase agreement entered between Plukka, Tesoro and the shareholders of Tesoro dated 3 October 2019, and for the preparation of an Australian prospectus for potential investors in a capital raise for Plukka after the abovementioned transaction. The acquisition is subject to the satisfaction of certain conditions precedent, as described in the share purchase agreement.

Other than being paid a fee for its work on this Report (on standard commercial rates for professional services), BSVV has no pecuniary interest in either Tesoro or Plukka, nor the proposed capital raising and offer of securities, which may be regarded as being capable of affecting its ability to give an unbiased opinion on the matters contained in this Report.

1.2 Methodology.

This Report is based on the documentation available in public records and other information provided by the vendors of the Projects. To prepare the Report, we:

(a) Reviewed all the information contained in the public registries which was within the scope of our enquiries;

(b) Made requests to the vendors where we considered it appropriate to see further information; and

(c) Only conducted limited searches and external enquiries as outlined in this Report.

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1.3 Qualifications.

We act as attorneys admitted and licensed to practice law in the Republic of Chile. Therefore, this Report is restricted to matters related to the laws of the Republic of Chile, and we are expressing no opinion as to the effect of the laws of Australia and/or any other jurisdiction. For any and all purposes, this Report shall be governed by and construed in accordance with the laws of the Republic of Chile.

To render this Report, we have assumed without any investigation on our part:

(a) The authenticity, genuineness, completeness and accuracy of all documents submitted to us as originals and the conformity to the originals of all documents submitted to us as copies;

(b) The truthfulness in the representations and warranties made and the affidavits filed by the titleholders;

(c) That the making and performance of each of the documents is within the power and authority of, and each of the documents has been duly authorized, executed and delivered by each party thereto, as the case may be (as to whom we make no such assumption);

(d) The veracity of certain factual matters upon information obtained from public officials, officers, legal counsels and other sources believed by us to be responsible;

(e) That the signature on all documents examined by us are genuine;

(f) That verbally provided information and explanations were true, correct, complete and not misleading; and

(g) That claims and concessions filed for registration upon transfer or assignment, that currently are in process, will be registered to the name of the assignee.

Whenever our report with respect to the existence or absence of facts or circumstances is qualified by the phrase “to our knowledge”, it is intended to indicate that no information has come to our attention that would give us actual knowledge of the existence of such facts or circumstances. However, we have not undertaken any special or independent investigation to determine the existence or absence of such facts or circumstances, and no inference as to our knowledge of the existence of such facts or circumstances should be drawn merely from this report.

No opinion is rendered regarding measurements, technical data or graphic information related to the mining properties refereed herein, neither to the completeness and content of the environmental information submitted.

We express no opinion on accounting confirmatory information and tax support documents.

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EXECUTIVE SUMMARY

2.1 Option agreement acquisition structure.

The Projects’ acquisition structure was organized upon a figure of earn in participation into 2 joint venture companies (jointly the “JV Companies”), each of them holding the mining concessions and other assets of each of the Projects. As such, Tesoro Chile, as Tesoro’s Chilean investment vehicle, entered into 2 option agreements, one for each Project. The option agreements are divided into several stages of investments. The stages consider the completion of exploration commitments and, additionally a purchase price consideration to the vendors.

The determination of the purchase price consideration for the vendors was agreed upon the reimbursement of the prior exploration investment made by the owners to the Projects, as expressly declared by each of the vendors on the acquisition documents.

2.2 Tesoro Chile.

(a) Tesoro Chile is a company by shares, duly existing and governed under the laws of the Republic of Chile. The capital of the company is CLP$1,000,000 divided in 73 ordinary shares and 10 Class A shares. The current shareholders of Tesoro Chile are:

• Tesoro owner of 73 ordinary shares, which represent the 95% of the capital and voting rights; and

• Inversiones Marlin Limitada owner of 10 shares Class A, which represent the 5% of the capital and voting rights;

(b) Tesoro Chile is currently in force and validly existing.

2.3 La Espina Project.

(a) The option agreement for the acquisition of the participation in La Espina Project is currently valid and in force, and Tesoro Chile has completed all of its obligations under such agreement to the date of the Report.

(b) The purchase option agreement for the La Espina Project is to acquire up to 100% of the shares of Nueva Colonial Resources S.C.M. (“Nueva Colonial”), a company that holds all of the mining concessions comprising the La Espina Project and the corresponding rights to acquire SLM La Perserverancia and SLM La Esperanza concessions (“Third Party Options”). Third Party Option grants Nueva Colonial sufficient rights to acquire 100% of the rights over La Esperanza Segunda, 1/10 and La Perseverancia, 1/9 (“Third Party Concessions”), both located within the area of La Espina Project.

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(c) Nueva Colonial has the right, but not the obligation, to acquire 100% interest of the Third Party Concessions. The payments and other conditions of the Third Party Options are not mandatory for Nueva Colonial, they shall only be completed in case decides to exercise its option under the agreement and acquire the Third Party Concessions.

(d) The mining concessions of the La Espina Project are all in force and in good standing, with all their mining license fees duly paid.

2.4 El Zorro Project.

(a) The option agreement for the acquisition of the participation in the El Zorro Project is currently valid and in force, and Tesoro Chile has completed all of its obligations under such agreement to the date of the Report.

(b) The purchase option agreement for El Zorro Project is to acquire up to 80% of the shares of El Zorro S.C.M. (“El Zorro”), a company that holds all of mining concessions comprising the El Zorro Project.

(c) The mining concessions of the El Zorro Project are all in force and in good standing, with all their mining license fees duly paid.

2.5 Superficial land title.

In order to conduct any kind of mining activity it is necessary to have a title over the superficial land where such activities will take place. In case of State-owned properties, the same rule applies.

The mining concession holder may reach an agreement with the land title owners, or in case there is no agreement, may judicially impose an easement to occupy the area of the project and build the mine and other facilities. In this last case the court shall determine indemnification to be paid to the owner and any other who has a right over the same area.

Early stage mining activities are commonly conducted without the prior request or constitution of a title over the relevant land. This is done to avoid unnecessary expenses at an early stage. However, this practice has the risk that third parties may request an easement over the same land and thus increasing the costs of indemnifications payable upon the granting of the necessary easements.

There are no rights to occupy the superficial land for any of the Projects. La Espina Project is located over private land area and El Zorro Project in State owned property.

2.6 Environmental permits.

Mining project developments require to conduct environmental impact assessment process, if, in case of extraction activities exceed 5,000 t/month and prospection activities over a

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certain number of platforms. Early stage exploration activities are not required to conduct environmental impact assessment process for its development.

Prospection activities differ from exploration, which is considered as a primary phase of discovery, characterization, delimitation and quantification of a potential area that may eventually conduct to the development of a mining project. Mining prospection is an activity subsequent to exploration, carried out to minimize the geological uncertainness associated to the mineral concentrations of a mining project development and necessary to define the mining plans.

Despite similarities of both activities, mining prospection includes more than 40 or 20 platforms (depending if the project in question is located in the north or south part of the country). If a project considers less than 40 or 20 platforms in each case, it will be deemed as mining exploration and will be therefore excluded from the evaluation process.1

The Environmental Law establishes two ways in which projects can become subject to the SEIA process, namely: i) by presenting an Environmental Impact Study, in case the project in question is capable of producing certain material effects, or ii) in other cases, by presenting an Environmental Impact Statement.

The Projects are not located within protected areas that implies to be environmentally evaluated for early stage exploration, and for proposition under 40 or 20 platforms respectively. Is common practice to request a formal statement form the authority declaring that the assessment will not be required before initiating a dense drilling campaign to avoid risks-

2.7 Indigenous rights.

According to Chilean law, an indigenous survey should be conducted during the environmental study procedure. In case communities are affected, project holders should agree with affected community (during the evaluation process or prior to its filing) any compensation for the potential affection of the project to their community.

To this date we have not conducted an indigenous preliminary review to determine if communities are affected by the projects, but having visited sites there is no evident evidence of communities having rights over the area.

1 Except for exploration activities carried out next or within areas under official protection.

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CORPORATE - TESORO MINING CHILE SPA / JV COMPANIES

3.1 Current situation of Tesoro Chile and JV Companies.

Tesoro Chile is a company by shares, duly incorporated and governed by the laws of the Republic of Chile. Tesoro Chile is currently in force and validly existing.

The JV Companies are contractual mining companies, regulated by the Chilean mining Code and their respective bylaws. The JV Companies were duly incorporated, are currently in force and validly existing.

3.2 Incorporation and amendments of Tesoro Chile.

(a) Incorporation. Tesoro Chile was incorporated by public deed dated August 14, 2013, granted before the Notary Public of Santiago Mrs. María Gloria Acharan Toledo. An abstract of the mentioned public deed was registered at page 69.104 number 45.540 of the Commerce Registry of Santiago, corresponding to the year 2013 and published on the Official Gazette on September 4, 2013.

(b) Tax paying registry. Tesoro Chile is registered at the tax paying registry under number 76.321.521-0.

(c) Amendments to the bylaws. The bylaws of Tesoro Chile have been amended as follows:

• By public deed dated June 20, 2017, granted before the Notary Public of Santiago Mr. Raúl Undurraga Laso, the shareholders of the company agreed to amend the name of the company to Stockholm Mining Chile SpA. An abstract of the public deed was registered at page 52.538 number 28.582 of the Commerce Registry of Santiago, corresponding to the year 2017, and was published on the Official Gazette on July 12, 2017.

• By public deed dated October 30, 2017, granted before the Notary Public of Santiago Mr. Raúl Undurraga Laso, the shareholders of the company agreed to (i) amend the name of the company to Stockholm Mining Chile SpA; and (ii) divided the capital of the company creating the new Series A shares, with the preferences and restriction mentioned below. An abstract of the public deed was registered at page 85.779 number 45.913 of the Commerce Registry of Santiago, corresponding to the year 2017, and was published on the Official Gazette on November 18, 2017.

3.3 Main aspects of Tesoro Chile bylaws.

(a) Corporate purpose. The main purpose of Tesoro Chile is the investment and development of any type of mining projects. Investment in private companies to develop mining projects and any other thereto.

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(b) Capital. The capital of the company is CLP$1,000,000 all paid by its shareholders and described in this Report.

(c) Domicile. Tesoro Chile is domiciled in Santiago, Metropolitan Region.

(d) Duration. The duration of the company is indefinite.

(e) Administration. The company is governed by administrators appointed by the simple majority of the shareholders of the company. The current administrators of the company, that can act individually with broad administration faculties are:

N° Position

Name

1 2

Administrator Administrator

Sergio Tomás Uribe Valdés Juan Francisco Varela Echaurren

(f) Capital participation. The capital of the company is divided into 83 shares, all duly subscribed and paid. The capital of the company is divided into shares of 2 different series, 73 shares are ordinary shares and 10 shares correspond to preferred Series A, as follows:

N° Shareholder

Shares Participation in capital Voting rights

1 2

Tesoro Inversiones Marlin Limitada2

73 10 (Series A)

95 % 5 % (carry free)

95% 5%

(g) Series A Shares. The shares of the preferred Series A grant to their respective holders the flowing preferences and restrictions:

• An economic and voting right preference. In total all of the shares of the series represent jointly a 5% of the capital and of the voting rights of the company, regardless of the amount of shares that the series represent on the total shares issued by the company. Related to the economic rights, Serie A shares jointly have the right to receive 5% of dividend distributions of the company and equal percentage upon liquidation of its assets.

• The participation of the Series A shares in capital is structured as a carry free interest, therefore the interest of the shareholders of the Series A shall not be diluted in case the capital of the company is increases and future capital contributions are made to the company.

2 Inversiones Marlin Limitada is a limited liability company controlled and owned by the local country manager Mr. Sergio Uribe Valdés.

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• Series A shares has no veto rights over the decision of the shareholders meeting or administration of the company.

• The preference shall be valid and in force during all the duration of the Company, and through its liquidation.

(h) Encumbrances. There is no evidence of any pledge, encumbrance and/or prohibition granted over the shares of Tesoro Chile.

MINING PROPERTY


The following list of mining properties cover the area of interest of the La Espina Project:

(a) Exploitation concessions.

The following corresponds to the current exploitation concessions of La Espina Project:

N° Concession name

Registered owner National

Registration

1 2 3 4 5 6 7 8 9 10 11 12 13 14

Esperanza Uno, 1/228 Esperanza Tres, 1/300 Esperanza Dos, 1/300

Esperanza Cuatro, 1/300 Esperanza Cinco, 1/200

La Esperanza Uno, 1/120 La Esperanza Cuatro, 1/55 La Esperanza Cinco, 1/200 La Esperanza Seis, 1/138 La Esperanza Siete, 1/200 Esperanza Nueve, 1/200 Esperanza Diez, 1/200

La Esperanza Segunda, 1/10 La Perseverancia, 1/9

Nueva Colonial Resources S.C.M. Nueva Colonial Resources S.C.M. Nueva Colonial Resources S.C.M. Nueva Colonial Resources S.C.M. Nueva Colonial Resources S.C.M. Nueva Colonial Resources S.C.M. Nueva Colonial Resources S.C.M. Nueva Colonial Resources S.C.M. Nueva Colonial Resources S.C.M. Nueva Colonial Resources S.C.M. Nueva Colonial Resources S.C.M. Nueva Colonial Resources S.C.M. S.L.M. La Esperanza Segunda Uno

S.L.M. La Perserverancia Uno

134040164-2 134040166-9 134040165-0 134040167-7 134040168-5 134040086-2 134030087-0 134030088-9 134030089-7 134030090-0 134030091-9 134030092-7 134040154-5 134040155-3

All of the concessions are currently registered to its owner as described in the above table. The concessions have their respective mining license fees paid and, to our knowledge, they have not been included in any public auction process due to lack of payment of mining license fees.

Nueva Colonial has an exclusive option title, but not the obligation, to acquire 100% of the interest of S.L.M. La Esperanza Segunda Uno and S.L.M. La Perseverancia Uno as beneficiary of the Third Party Options. In order to validly acquire the Third Party Concessions, Nueva Colonial shall pay the vendors the amount of USD 55,000 on or prior to December 7, 2019, and the amount of USD 293,800 on or before December 7, 2020. Should Nueva Colonial make any payments to the vendors of the

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Third Party Options, Nueva Colonial will fund these payments from Tesoro Chile’s investment commitments under La Espina purchase option agreement structure.

(b) Exploration concessions.

After the execution of the acquisition documents, Tesoro Chile filed claims for the granting of a group of additional mining concessions to explore, covering areas not secured by the first group of concessions of La Espina Project, all of them listed below.

N° Concession name Registered owner National Registration

1 2 3 4 5 6 7 8 9 10 11 12 13

Paine 1 Paine 2 Paine 3 Paine 4 Paine 5 Paine 6 Isla 1 Isla 2 Isla 3 Isla 4 Isla 5 Isla 6 Isla 7

Cristián Stewart Claro Cristián Stewart Claro Cristián Stewart Claro Cristián Stewart Claro Cristián Stewart Claro Cristián Stewart Claro Cristián Stewart Claro Cristián Stewart Claro Cristián Stewart Claro Cristián Stewart Claro Cristián Stewart Claro Cristián Stewart Claro Cristián Stewart Claro

134040293-2 134040291-6 134040290-8 134040294-0 134040295-9 134040292-4 135010072-1 135020082-3 135020084-K 135020085-8 135020086-6 135020087-4 135020083-1

These mining concessions are duly granted and registered to the name of Mr. Cristián Stewart Claro, who acted as attorney of Nueva Colonial.

These mining concessions were already assigned to the name of Nueva Colonial, and they are under the registration process at the relevant Mining Registrar. We do not foresee any problem on the registration process to the name of the assignee of the concessions. Assigning concessions upon completion of the granting process is a common practice in Chile.


The following list of mining properties cover the area of interest of El Zorro Project:

(a) Exploitation concessions.

The following corresponds to the current exploitation concessions of El Zorro Project.


1 2 3 4 5

Las Coquetas 1/10 Paton Dos 1/29 Paton Uno 1/29 Leon Uno 1/30 Leon Dos 1/30

El Zorro S.C.M. El Zorro S.C.M. El Zorro S.C.M. El Zorro S.C.M. El Zorro S.C.M.

032020535-2 032022163-3 032022162-5 032022268-0 032022267-2

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(b) Exploration concessions.

After the execution of the acquisition documents, Tesoro Chile filed claims for the granting of a group of additional mining concessions to explore, covering areas not secured by the first group of concessions of El Zorro Project, all of them listed below.


1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41

Zorro 1 Zorro 2 Zorro 3 Zorro 4 Zorro 5 Zorro 6

Bloody Good Shot 1 Bloody Good Shot 2 Bloody Good Shot 3 Bloody Good Shot 4 Bloody Good Shot 5 Bloody Good Shot 6 Bloody Good Shot 7 Bloody Good Shot 8 Bloody Good Shot 9

Bloody Good Shot 10 Bloody Good Shot 11 Bloody Good Shot 12 Bloody Good Shot 13 Punta de Diamante 1 Punta de Diamante 2 Punta de Diamante 3

La Negra Coja 1 La Negra Coja 2 La Negra Coja 3 La Negra Coja 4 La Negra Coja 5 La Negra Coja 6 La Negra Coja 7 La Negra Coja 8 La Negra Coja 9 La Negra Coja 10 La Negra Coja 11 La Negra Coja 12 La Negra Coja 13 La Negra Coja 14 La Negra Coja 15 La Negra Coja 16 La Negra Coja 17 La Negra Coja 18 La Negra Coja 19

El Zorro S.C.M El Zorro S.C.M El Zorro S.C.M El Zorro S.C.M El Zorro S.C.M El Zorro S.C.M

Juan Francisco Varela Echaurren Juan Francisco Varela Echaurren Juan Francisco Varela Echaurren Juan Francisco Varela Echaurren Juan Francisco Varela Echaurren Juan Francisco Varela Echaurren Juan Francisco Varela Echaurren Juan Francisco Varela Echaurren Juan Francisco Varela Echaurren Juan Francisco Varela Echaurren

El Zorro S.C.M El Zorro S.C.M El Zorro S.C.M El Zorro S.C.M El Zorro S.C.M El Zorro S.C.M El Zorro S.C.M El Zorro S.C.M El Zorro S.C.M El Zorro S.C.M El Zorro S.C.M El Zorro S.C.M El Zorro S.C.M El Zorro S.C.M El Zorro S.C.M El Zorro S.C.M El Zorro S.C.M El Zorro S.C.M El Zorro S.C.M El Zorro S.C.M El Zorro S.C.M El Zorro S.C.M El Zorro S.C.M El Zorro S.C.M El Zorro S.C.M

032023023-3 032023024-1 032023025-K 032023026-8 032023027-6 032023028-4 032023136-1 032023137-K 032023138-8 032023139-6 032023140-K 032023141-8 032023142-6 032023143-4 032023144-2 032023145-0 032023158-2 032023156-6 032023157-4 032023171-K 032023172-8 032023173-6 032023174-4 032023175-2 032023176-0 032023177-9 032023178-7 032023179-5 032023180-9 032023181-7 032023182-5 032023183-3 032023184-1 032023185-K 032023186-8 032023187-6 032023188-4 032023192-2 032023189-2 032023190-6 032023191-4

The mining concessions Bloody Good Shot 1, Bloody Good Shot 2, Bloody Good Shot 3, Bloody Good Shot 4, Bloody Good Shot 5, Bloody Good Shot 6, Bloody Good Shot 7, Bloody Good Shot 8, Bloody Good Shot 9, Bloody Good Shot 10 are duly granted and registered to the name of Mr. Juan Francisco Varela Echaurren, who acted as attorneys to El Zorro.

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These mining concessions were already assigned to the name of El Zorro, and they are under the registration process at the relevant Mining Registrar. We do not foresee any problem on the registration process to the name of the assignee of the concessions. Assigning concessions upon completion of the granting process is a common practice in Chile.

PROJECTS ACQUISITION STRUCTURES – OPTION AGREEMENTS


The purchase option agreement for La Espina Project, grants Tesoro Chile an option title to acquire 100% of the shares of Nueva Colonial, company that it is the owner of La Espina Project.

To this date Tesoro Chile has not accrued any participation in Nueva Colonial.

Nueva Colonial was incorporated by means of public deed dated December 11, 2017, granted before the Notary Public of Santiago Mr. Eduardo Avello Concha. The incorporation of Nueva Colonial was registered before the Mining Property Registrar of Santiago, at page 389, number 101 of the Property Registry, and at page 168, number 146 of the Shareholder Registry of Santiago, both corresponding to the year 2017. Nueva Colonial bylaws has not been subject to any amendments.

In the act of incorporation of Nueva Colonial, the vendors contributed all the mining concessions currently owed by Nueva Colonial.

The acquisition structure of La Espina option agreement is the following:

Payment schedule

Stages Date for completion Accrued

participation Stage purchase

price (USD)

First Second Third Fourth Fifth

December 11,2019 December 11,2020 December 11,2021 December 11,2022 December 11,2023

30,5% 60% 70% 90%

100%

135,000 50,000 50,000 50,000

4,000,000

To this date Tesoro Chile has paid to the vendors the amount of USD 85,000 as part of the price of the first stage, therefore only the amount of USD 50,000 is outstanding, which is to be paid by December 11 2019.

The fifth stage purchase price, for the amount of USD 4,000,000 can be paid in cash, or in equal value of shares of the Australian parent company of Tesoro Chile to the date of the exercise of the purchase option, as regulated in the La Espina purchase option agreement.

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Exploration commitment schedule

Stage Date for completion Exploration

commitment (USD) First

Second Third Fourth Fifth

September 11, 2020 September 11, 2021 September 11, 2022 September 11, 2023

Does not apply

750,0003 750,000

1,500,000 1,500,000

N/A

(a) Promise to execute option agreement.

By means of public deed dated November 3, 2017, granted before the Notary Public of Santiago, Mr. Raúl Undurraga Laso, Inversiones Cabo de la Esperanza Limitada and Colonial Resources S.C.M., as vendors, and Tesoro Chile, as beneficiary and buyer, entered into a promise agreement to execute a purchase option of up to 100% of the shares of a new company to be formed under the name of Nueva Colonial.

(b) Purchase option agreement over the shares of SLM La Perseverancia 1/10 de Paine and SLM La Esperanza Segunda 1/10 de Paine.

By public deed dated March 9, 2018, granted before the Notary Public of Santiago Mr. Raúl Undurraga Laso, Inversiones Cabo de la Esperanza Limitada assigned and transferred to Nueva Colonial the right to acquire all of the issued shares in the following mining companies: /i/ SLM La Esperanza Segunda 1/10 de Paine; and, /ii/ SLM La Perseverancia 1/10 de Paine. The assignment of the option agreement was registered at the name of Nueva Colonial at page 5, number 3 of the Shareholder Registry of the Mining Registrar of Buin corresponding to the year 2018.

The assigned right was acquired by Inversiones Cabo de La Esperanza Limitada by an option agreement celebrated by public deed dated December 7, 2011, granted before the Public Notary of Buin Mr. Myriam Escobar Díaz, between Juan Francisco Jara Maldonado and Francisco Nicolás Jara Rissetti as vendors, and Inversiones Cabo de la Esperanza Limitada as beneficiary and buyer.

Nueva Colonial has no obligation to pay the purchase price and complete other conditions of the Third Party Options, but shall complete them in case decides to exercise its purchase option over the Third Party Concessions. This purchase option must be exercised by Nueva Colonial on or before December 7, 2020 to acquire the rights over the companies.

3 Our Client has informed that to this date part of the exploration commitment of approximately USD300,000 has been already made by Tesoro Chile.

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(c) Purchase option agreement over the shares of Nueva Colonial.

By means of public deed dated December 11, 2017, granted before the Notary Public of Santiago Mr. Eduardo Avello Concha, Inversiones Cabo de la Esperanza Limitada and Colonial Resources S.C.M., both as vendors, and Tesoro Chile, as beneficiary and buyer, executed a purchase option agreement over all of the shares of Nueva Colonial. La Espina option agreement is registered at page 371 number 117 of the Encumbrances and Prohibition Registry of the Mining Registrar of Santiago, corresponding to the year 2018.

The share acquisition structure is divided into different stages, therefore, upon completion of the exploration commitment of each stage and the payment of the corresponding price for such stage, Tesoro Chile will acquire the subsequent participation over Nueva Colonial.

By means of public deed dated March 9, 2018, granted before the Notary Public of Santiago Mr. Raúl Undurraga Laso, were incorporated the registration details of Nueva Colonial, then Nueva Colonial granted to Tesoro Chile a mortgage and a prohibition to sell or assign over its mining concessions, to secure the obligations of the vendors under La Espina Option Agreement. The mortgage was registered at page 2 number 2 of the Mortgage and Encumbrances Registry of the Mining Registrar of Buin, corresponding to the year 2018. The prohibition was registered at page 2 number 2 of the Prohibition and Interdiction Registry of the Mining Registrar of Buin, corresponding to the year 2018.

(d) La Espina Option Agreement amendments.

• Stages and amendment of the structure of the minimum exploration and

development investment.

The parties of the agreement amended La Espina option agreement in order to define a new structure and completion structure of the requirement of the minimum exploration and development investment, required for each of the stages of the agreement. Additionally, the parties of the agreement reduced the number of stages in order to acquire the participation into the Project. The amendment was agreed as evidenced on public deed dated November 22, 2018, granted before the Notary Public of Santiago Mr. Raúl Undurraga Laso.

• Structure of payment and number of shares to acquire participation in

Nueva Colonial.

The parties to the agreement amended the payment structure of the first stage, and the interest to be acquired by Tesoro in Nueva Colonial upon exercise of the acquisition options for the first and second stages. The

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amendment was agreed as evidenced on public deed dated on December 10, 2018, granted before the Notary Public of Santiago Mr. Raúl Undurraga Laso.

• Amendment of the scheduled of the minimum exploration and development

investment.

The parties to the agreement amended the terms for completion of the exploration commitments of each stage. The amendment was agreed as evidenced on public deed dated September 04, 2019, granted before the Notary Public of Santiago Mr. Luis Ignacio Manquehual Mery.


The purchase option agreement for El Zorro Project is to acquire up to 80% of the shares of El Zorro, the company that it is the owner of El Zorro Project.

To this date the shareholders of El Zorro are: (i) Tesoro Chile with 51 shares of the company, representing 51% of the issued capital; and (ii) Wanaco SpA with 49 shares, representing 49% of the issued capital.

El Zorro was incorporated by public deed dated March 8, 2018, granted before the Notary Public of Santiago Mrs. Antonieta Mendoza Escalas. The incorporation of the company was registered before the Mining Property Registrar of Santiago, at page 79, number 19, of the Property Registry and at page 204, number 174, of the Shareholder Registry, both corresponding to the year 2018.

The acquisition structure of El Zorro option agreement is the following.

Payment Schedule

Stage

Date for completion Accrued

participation Stage purchase

price (USD)

First Second Third Fourth

January 17, 2018 October 1, 2018 January 17, 2021 January 17, 2022

10% 51% 70% 80%

100,000 50,000 50,000 50,000

The first and second stages payments area completely fully paid, in accordance to the provisions of El Zorro option agreement and Tesoro Chile has already acquired 51% of the shares of El Zorro.

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Exploration commitment schedule

Stage

Date for completion

Exploration

commitment (USD)

First Second Third Fourth

N/A July 17, 2020

January 17, 2021 Does not apply

N/A 2,000,0004 1,500,000

N/A

Tesoro Chile need to complete the exploration commitment for the second stage of the option agreement, in order to maintain its property over the shares of El Zorro. In case fails to complete the investment, the vendor of El Zorro may request the restitution of shares corresponding to a 41% of the issued capital of El Zorro. For Tesoro Chile to validly exercise its option for the third stage of the option agreement and accrue the participation in El Zorro up to a 70%, shall complete the exploration commitment for the third stage.

(a) Purchase option agreement over the mining concessions of El Zorro Project.

By public deed dated July 17, 2017, granted before the Notary Public of Caldera Ms. Carolina Moreno Jashes, Mr. José Agustín Bahamondes Améstica, as vendor, and Tesoro Chile, as beneficiary and buyer, entered into a purchase option agreement over a group of mining concessions forming El Zorro Project. On the same deed the vendor granted a mortgage and a prohibition to sell or assign over the existing mining concessions of the Project.

El Zorro option agreement entitles its beneficiary to acquire up to an 80% of the interest over the Project. The acquisition structure is divided into different stages, therefore, upon completion of the exploration commitment of each stage and the payment of the corresponding price for such stage, Tesoro Chile acquires subsequent participation over El Zorro Project .

According to Chilean Law, in case a part of a mining concession is transferred to a third party, a legal mining company is automatically created, and the concession is registered to such company name. Considering that the purchase option agreement was granted over the mining concessions, the parties agreed that upon execution of the first stage and subsequently the legal mining companies are created, all of the shares of the legal mining companies will be contributed and assigned to a new mining company that will hold all of the concessions of the project, and the purchase option agreement will be over the shares of such company.

4 Our Client has informed that to this date part of the exploration commitment of approximately USD1.5 million has been already made by Tesoro Chile.

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(b) Exercise and acquisition of the interest of the first stage.

By public deed dated November 8, 2017, granted before the Notary Public of Caldera Mrs. Carolina Moreno Jashes, Tesoro Chile exercised the purchase option of the first stage of El Zorro Option Agreement, and acquired 10% interest over the mining concessions of the project to that date. Upon exercise of the purchase option, the purchase price of USD 100,000 was paid and received.

Tesoro Chile acquired the interest over five mining concessions; therefore, a legal mining company was created for each of the concessions of the project, holding Tesoro Chile 10% of the shares of each of the legal mining companies and Mr. José Bahamondes Améstica the remaining 90% of the shares of such companies.

By the act of incorporation of El Zorro, all of the shares of the legal mining companies were granted to El Zorro, therefore the Mining Registrar canceled the registrations to the legal mining companies and registered the mining concessions to the name of El Zorro.

(c) Amendments of El Zorro Option Agreement

El Zorro Option Agreement has been object of the following complementation and amendments:

• Amendment of the object of the option agreement.

By public deed dated March 8, 2018, granted before the Notary Public of Santiago Mrs. Antonieta Mendoza Escalas, Tesoro Chile and Mr. José Bahamondes Améstica amended El Zorro option agreement as provided in the original contract, defining that the purchase option will be exercised over the shares of the company El Zorro, holder of all the mining concessions of El Zorro Project.

• Restated text and amendment of the payment schedule.

By public deed dated April 20, 2018, granted before the Notary Public of Santiago Mr. Raúl Undurraga Laso, the parties of El Zorro Option Agreement agreed to restate the original El Zorro Option Agreement to amend the payment schedule of the second stage, corresponding to USD 50,000, to July 17, 2020. For this purpose, Tesoro Chile exercised and acquired the interest of the second stage and accrued 51% interest over El Zorro Project.

• Amendment of the payment schedule and the structure to complete the

requirement of exploration commitments.

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By public deed dated July 30, 2018, granted before the Notary Public of Santiago Mr. Raúl Undurraga Laso, the parties amend the El Zorro Option Agreement, in order to amend the structure to fulfill the requirement of a minimum exploration and development investment that corresponds in each stage. Also, in the same deed the parties postponed the payment date for the second stage of the Option Agreement from August 1, 2018 to October 1, 2018.

CONCLUSIONS

6.1 Corporate matters.

Based on (i) applicable legislation that governs corporate matters in the Republic of Chile, and (ii) the documentation provided to us, and available at the corresponding public registries, and subject to the qualifications and assumptions detailed hereto, to this date we can conclude that:

(a) Tesoro Mining Chile SpA.

• Tesoro Chile has been duly incorporated and is legally existing and in good standing.

• Tesoro and Inversiones Marlin Limitada, are the sole registered shareholders of 100% of the capital stock of Tesoro Mining Chile SpA.

(b) Nueva Colonial Resources S.C.M.

• Nueva Colonial has been duly incorporated and is legally existing and in good standing.

• Colonial Resources S.C.M. with 9.999 shares and Inversiones Cabo de la Esperanza Limitada, with 1 share, are the registered shareholders of 100% of the capital stock of Nueva Colonial Resources S.C.M.

(c) El Zorro S.C.M.

• El Zorro has been duly incorporated and is legally existing and in good standing.

• Wanaco SpA with 49 shares and Tesoro Chile, with 51 shares, are the registered shareholders of 100% of the capital stock of El Zorro S.C.M.

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6.2 Acquisition agreements.

Based on applicable legislation that governs this type of agreement under Chilean law, and subject to the qualifications and assumptions detailed hereto, to this date we can conclude that:

(a) La Espina option agreement and Third Party Options.

• La Espina option agreement constitutes a valid and binding agreement, is in good standing, and all obligations thereunder are enforceable against the parties thereto.

• La Espina option agreement entitles its beneficiary, upon execution and completion of all the stages thereto, to acquire an 100% of the shares of Nueva Colonial.

• The option agreement over the concessions La Esperanza Segunda, 1/10 and La Perseverancia, 1/9 constitutes a valid and binding agreement, is in good standing, and all obligations thereunder are enforceable against the parties thereto. This agreement entitles Nueva Colonial to acquire 100% interest over such mining property.

(b) El Zorro option agreement.

• El Zorro option agreement constitutes a valid and binding agreement, is in good standing, and all obligations thereunder are enforceable against the parties thereto.

• El Zorro option agreement entitles its beneficiary, upon execution and completion of all the stages thereto, to acquire an 80% of the shares of El Zorro.

6.3 Mining property.

Based on (i) applicable legislation that governs mining property matters in the Republic of Chile, and (ii) the documentation provided to us, and available at the corresponding public registries, and subject to the qualifications and assumptions detailed hereto, to this date we can conclude that:

(a) La Espina Project.

Regarding mining concessions, Esperanza Uno, 1/228, Esperanza Dos 1/300, Esperanza Tres 1/300, Esperanza Cuatro 1/300, Esperanza Cinco, 1/200, La Esperanza Uno 1/200, La Esperanza Cuatro, 1/55, La Esperanza Cinco, 1/200,

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La Esperanza Seis, 1/138, La Esperanza Siete, 1/200, La Esperanza Nueve, 1/200 and La Esperanza Diez 1/200, we can conclude that:

• Concessions are granted and duly registered to the name of Nueva Colonial.

• Concessions are in good standing, and they are not subject to any other encumbrances, mortgages and prohibitions besides the ones granted in favor of Tesoro Chile.

• Concessions have preferred right to conduct mining activities over the area they cover.

• Mining license fees have been paid and to our knowledge the mining concessions are not included in any public auction process due to lack of payment of mining license fees.

Regarding mining concessions La Esperanza Segunda, 1/10 and La Perseverancia 1/9, we can conclude that:

• S.L.M. La Esperanza Segunda Uno is the registered title holder of La Esperanza Segunda, 1/10 and S.L.M. La Perseverancia Uno of the concession La Perseverancia 1/9.

• Concessions are granted and duly registered to the name of their corresponding title holder.

• Concessions are in good standing, and they are not subject to any other encumbrances, mortgages and prohibitions besides the ones granted in favor of Tesoro Mining Chile SpA and Inversiones Cabo de la Esperanza Limitada.

• Concessions have preferred right to conduct mining activities over the area they cover.


Regarding mining concessions Paine 1, Paine 2, Paine 3, Paine 4, Paine 5 and Paine 6, we can conclude that:

21

• Mr. Cristian Stewart Claro is the registered title holder, who acted as attorney for Nueva Colonial5. The concessions are under the registration process to the name of its assignee ate the Mining Registrar.

• Concessions are granted and duly registered to the name of their corresponding title holder.

• Concessions are in good standing, and they are not subject to any encumbrances, mortgages and prohibitions.


Regarding mining concessions Isla 1, Isla 2, Isla 3, Isla 4, Isla 5, Isla 6 and Isla 7 we can conclude that:

• Mr. Cristián Stewart Claro is the registered title holder, who acted as attorney for Nueva Colonial. 6.The concessions are under the registration process to the name of its assignee ate the Mining Registrar.

• Concessions are granted, and the application is duly registered to the name of their corresponding title holder.



(b) El Zorro Project.

Regarding mining concessions Las Coquetas 1/10, Paton Dos 1/29, Paton Uno 1/29, Leon Uno 1/30 and Leon Dos 1/30, we can conclude that:

5 By public deed dated September 12, 2019, granted before the Notary Public of Santiago Mr. Luis Ignacio Manquehual Mery these concessions where transferred by Mr. Cristian Stewart to Nueva Colonial Resources S.C.M. and are now under registration process.

6 By public deed dated September 12, 2019, granted before the Notary Public of Santiago Mr. Luis Ignacio Manquehual Mery these concessions where transferred by Mr. Cristian Stewart to Nueva Colonial Resources S.C.M and are now under registration process.

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• El Zorro is the registered title holder.

• Concessions are granted and duly registered to the name of their corresponding title holder, except for Leon Uno 1/30 and Leon Dos 1/ which are in the process of registering the sentence that granted the mining concession of exploitation.

• Concessions are in good standing, and they are not subject to any other encumbrances, mortgages and prohibitions besides the ones granted in favor of Tesoro Chile.


Regarding mining concessions Bloody Good Shot 1, Bloody Good Shot 2, Bloody Good Shot 3, Bloody Good Shot 4, Bloody Good Shot 5, Bloody Good Shot 6, Bloody Good Shot 7, Bloody Good Shot 8, Bloody Good Shot 9 and Bloody Good Shot 10, we can conclude that:

• Mr. Juan Francisco Varela Echaurren is the registered title holder, who acted as attorney for El Zorro7. The concessions are under the registration process to the name of its assignee ate the Mining Registrar.




Regarding mining concessions Zorro 1, Zorro 2, Zorro 3, Zorro 4, Zorro 5, Zorro 6, Bloody Good Shot 11, Bloody Good Shot 12, Bloody Good Shot 13, Punta de Diamante 1, Punta de Diamante 2, Punta de Diamante 3, La Negra Coja 1, La Negra Coja 2, La Negra Coja 3, La Negra Coja 4, La Negra Coja 5, La Negra Coja 6, La Negra Coja 7, La Negra Coja 8, La Negra Coja 9, La Negra Coja 10,

7 Mr. Juan Francisco Varela Echaurren acted as attorney to El Zorro S.C.M., therefore, once the concessions are granted will assign and transfer them to the name of the principal. The assignment and transfer can be made at any stage of the concession granting procedure.

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La Negra Coja 11, La Negra Coja 12, La Negra Coja 13, La Negra Coja 14, La Negra Coja 15, La Negra Coja 16, La Negra Coja 17, La Negra Coja 18, y La Negra Coja 19 we can conclude that:

• El Zorro is the registered title holder.




BARROS, SILVA, VARELA & VIGIL ABOGADOS LIMITADA

Name: Francisco Varela E. Position: Partner

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SCHEDULE CHILEAN MINING BASIC LEGAL FRAMEWORK- MINING CONCESSIONS

General overview

Three major legal texts are concerned with mining in Chile, i.e., the Constitution of 1980, the Constitutional Organic Law No. 18.097 and the Mining Code. Said laws set out that the State has the absolute, exclusive, inalienable and imprescriptible title to all mines, except surface clays. They establish also that mineral substances –with the exception of liquid or gaseous hydrocarbons– are available for exploration and exploitation concessions. They recognize the free availability for concession purposes of all mineral substances, both metal and non-metal. The holder’s title to the mining concession is protected by the constitutional guaranty of proprietary rights.

Chilean legislation provides for two kinds of concessions: the exploration concession and the exploitation concession. The main characteristics of the mining concessions are the following:

(a) the mining concession is defined as an immovable real right that grants the holder exclusive power to explore the concessionable mineral substances within the bounds thereof, in the case of the mining exploration concession, or to explore and exploit such substances and become the owner of any substances extracted therefrom, in the case of the mining exploitation concession. The character of real right of the concession means that the right held on the concession is exercised directly on all concessionable mineral substances existing within its bounds, without reference to any specific person, that it may be upheld vis-à-vis the State or any person and that it can be object of possessory actions to recover possession based on title;

(b) the mining concessions are always established by the court with no decision-making action by any other authority, avoiding in this way the discretionary interference of administrative authorities;

(c) the concession means a distinct title, irrespective of title to the land, even if owned by the same person;

(d) the mining concession is a transferable and transmissible right, mortgageable and subject to other real rights, i.e., easements and usufruct and generally any act or contract;

(e) the mining concession is conditional to the extent that the holder is bound to pay a yearly license, under penalty of losing such concession;

(f) the mining exploitation concession has indefinite duration. The mining exploration concession remains in effect for 2 years and may be extended for another 2 years period, provided at least half the area thereof is surrendered;

25

(g) the mining concession is divisible intellectually and physically, provided each resulting portion does not measure less than the minimum legal area and shape; and

(h) any Chilean or foreign person may establish and acquire mining concessions.

As stated above, mining concessions are established before the ordinary law courts. Preference for establishing a concession is given to the first person to submit the necessary application to the court. The procedure begins with presentation of simple writs to the competent judge of the court where the central point of the concession is located. The establishment of a mining exploration concession takes about 4 months. The mining exploitation concession requires surveying and bounding and it takes approx. 14 months until its establishment. A judicial opinion granting a concession is the title thereto and grants possession over the mining concession.

The causes for declaring a mining concession null and void are: (i) error by an expert while surveying the claim; (ii) fraud or deceit while surveying the claim; (iii) violation of rules of shape, bearing, area or sides or upper section of a concession to exploit or explore; (iv) establishment of a concession to explore or exploit with the inclusion of tracts located outside the tracts applied in the respective applications; (v) the creation of a concession to exploit with the inclusion during the survey of tracts already included in another survey or including lands previously included in another claim to exploit submitted on earlier date; (vi) the creation of a concession to explore including tracts already included in another application to explore submitted on earlier date. The actions for nullity extinguish pursuant to the statute of limitation within 4 years counted from the date of publication of the extract of the judicial opinion granting.

The concession cannot be embargoed nor sold, except when the debtor is a stock corporation or the debtor consents on the embargo and sale.

The registered application for a concession to explore and a concession to exploit are real, immovable, transferable and conveyable rights subject to the same rules applicable to other real estates.

The exploration and exploitation concessionaires have the right to receive compensation in case of expropriation for the patrimonial damage actually suffered. In the case of the expropriation of an exploitation concession, the patrimonial damage will consist in the commercial value of the right to initiate and continue the extraction and appropriation of the substances object of the concession. This value is calculated by an expert’s opinion in the absence of agreement. The report of the expert must be carried out considering the ore reserves of grantable substances that the expropriated party can demonstrate, using as methodology the present value of the net cash flow of the concession.

The basic principle on which our legal system is construed, is the total independency between the rights of the mining concessionaire and the rights of the landowner. However, it is evident that the carrying out of mining works, either exploration or exploitation, inevitably will

26

require the occupation of superficial land. In this case, the Chilean law provides that the superficial land can be levied with the encumbrance of being occupied for the development of the necessary mining work. Only when the mining concessionaire is not the owner of the land, both rights come into conflict, since the activity of the mining concessionaire will necessarily affect the landowner’s interests.

This conflict can voluntarily be solved by the following means: (i) landowner’s consent; (ii) private agreements, such as rental or commodatum, and (iii) through voluntary easements, which are created by agreements between the interested parties, recorded in the form of public deeds, that regulate their exercise and the necessary compensations.

When it is not possible to reach an agreement, the law recognizes the right of the holder of the mining concessions to impose the easements through a court decision under a special brief procedure contemplated in the law.

3571-05/2250444_9 311

ANNEXURE C – INVEST IGAT ING ACCOUNTANT’S REPORT

THE POWER OF BEING UNDERSTOODAUDIT | TAX | CONSULTINGRSM Corporate Australia Pty Ltd is beneficially owned by the Directors of RSM Australia Pty Ltd. RSM Australia Pty Ltd is a member of the RSM network and trades as RSM. RSM is the trading name used by the members of the RSM network. Each member of the RSM network is an independent accounting and consulting firm which practices in its own right. The RSM network is not itself a separate legal entity in any jurisdiction.

RSM Corporate Australia Pty Ltd ABN 82 050 508 024 Australian Financial Services Licence No. 255847

RSM Corporate Australia Pty Ltd

Level 32, Exchange Tower,

2 The Esplanade Perth WA 6000

T +61 (0) 8 9261 9100

F +61 (0) 8 9261 9199

www.rsm.com.au29 October 2019

The Directors Plukka Limited c/o Coghlan Duffy & Co. Level 42 Rialto South Tower MELBOURNE VIC 3000

Dear Directors

INVESTIGATING ACCOUNTANT’S REPORT

Independent Limited Assurance Report (“Report”) on Plukka Limited Historical and Pro Forma

Historical Financial Information

Introduction

We have been engaged by Plukka Limited (to be renamed “Tesoro Resources Limited”) (the “Company”) to report

on the historical and pro forma historical financial information of the Company as at 30 June 2019 and of Tesoro

Resources Limited (“Tesoro”) for the period from the date of incorporation to 30 June 2018 and the year ended 30

June 2019, for inclusion in a prospectus (“Prospectus”) to be dated on or about 29 October 2019. The Prospectus is

in connection with a public offering and re-compliance with the admission requirements of the Australian Securities

Exchange (“ASX”), pursuant to which the Company is offering a minimum of 150,000,000 ordinary shares in the

Company at an issue price of $0.03 per share to raise $4.5 million before costs, with the right to accept

oversubscriptions of up to a further 33,333,333 shares, to raise up to a further $1.0 million, for a maximum raising of

up to $5.5 million (“Offer”).

Expressions and terms defined in the Prospectus have the same meaning in this Report.

The future prospects of the Company, other than the preparation of Pro Forma Historical Financial Information,

assuming completion of the transactions summarised in Note 1 of the Appendix to this Report, are not addressed in

this Report. This Report also does not address the rights attaching to the shares to be issued pursuant to the

Prospectus, or the risks associated with an investment in shares in the Company.

Background

Plukka Limited is an Australian public company listed on the ASX, which previously traded as a retailer of fine

jewellery. In January 2018, the Company announced its decision to discontinue the jewellery business and its

securities have been suspended from quotation on the ASX since October 2018.

On 5 August 2019, the Company announced that it had entered into a binding term sheet agreement pursuant to

which the Company agreed, subject to satisfaction of certain conditions precedent, to acquire 100% of the issued

share capital of Tesoro (the “Acquisition”).

2

Tesoro is an unlisted public company incorporated in Australia, which was established to acquire, develop and build

mining projects in the Coastal Cordillera region of Chile, with a focus on gold. Tesoro was incorporated on 21 March

2017 and currently holds a 51% interest in the El Zorro gold project, with an ability to earn-in up to 80% ownership. It

also holds rights to acquire up to 100% of the Espina Gold Project.

Scope

Historical financial information

You have requested RSM Corporate Australia Pty Ltd (“RSM”) to review the historical financial information included

in the Prospectus at the Appendix to this Report, and comprising:

the statement of comprehensive income and statement of cash flows of Tesoro for the period from 21 March

2017, being its date of incorporation, to 30 June 2018 and for the year ended 30 June 2019; and

the statements of financial position of the Company and Tesoro as at 30 June 2019.

(together the “Historical Financial Information”).

The Historical Financial Information has been prepared in accordance with the stated basis of preparation, being the

recognition and measurement principles of Australian Accounting Standards and the Company’s adopted accounting

policies.

The Historical Financial Information comprises that of the Company and Tesoro, and has been extracted from:

the consolidated financial statements of the Company for the year ended 30 June 2019, which were audited by

RSM Australia Partners in accordance with Australian Auditing Standards and the Corporations Act 2001. The

audit report issued on the financial statements for the year ended 30 June 2019 included an unmodified audit

opinion. However, the audit report included an emphasis of matter in relation to material uncertainty that may cast

significant doubt on the Company’s ability to continue as a going concern; and

the consolidated financial statements of Tesoro for the period from the date of incorporation to 30 June 2018 and

for the year ended 30 June 2019, which were audited by RSM Australia Partners in accordance with Australian

Auditing Standards and the Corporations Act 2001. The audit reports issued on the financial statements for the

period ended 30 June 2018 and the year ended 30 June 2019 included an unmodified audit opinion. However,

the audit report on the financial statements for the year ended 30 June 2019 included an emphasis of matter in

relation to material uncertainty that may cast significant doubt on Tesoro’s ability to continue as a going concern.

The Historical Financial Information is presented in the Prospectus in an abbreviated form, insofar as it does not

include all of the presentation and disclosures required by Australian Accounting Standards and other mandatory

professional reporting requirements applicable to general purpose financial reports prepared in accordance with the

Corporations Act 2001.

Pro forma historical financial information

You have requested RSM to review the pro forma historical statement of financial position as at 30 June 2019, referred

to as “the Pro Forma Historical Financial Information”.

The Pro Forma Historical Financial Information has been derived from the Historical Financial Information of the

Company after adjusting for the effects of the Acquisition and the other pro forma adjustments described in Note 1 of

the Appendix to this Report. The stated basis of preparation is the recognition and measurement principles of

Australian Accounting Standards applied to the Historical Financial Information and the events or transactions to

which the subsequent events and pro forma adjustments relate, as described in Note 1 of the Appendix to this Report,

as if those events or transactions had occurred as at the date of the Historical Financial Information. Due to its nature,

the Pro Forma Historical Financial Information does not represent the Company’s actual or prospective financial

position or statement of financial performance.

3

Directors’ responsibility

The Directors of the Company are responsible for the preparation of the Historical Financial Information and Pro

Forma Historical Financial Information, including the selection and determination of pro forma adjustments made to

the Historical Financial Information and included in the Pro Forma Historical Financial Information. This includes

responsibility for such internal controls as the Directors determine are necessary to enable the preparation of

Historical Financial Information and Pro Forma Historical Financial Information that are free from material

misstatement, whether due to fraud or error.

Our responsibility

Our responsibility is to express a limited assurance conclusion on the Historical Financial Information and Pro Forma

Historical Financial Information based on the procedures performed and the evidence we have obtained. We have

conducted our engagement in accordance with the Standard on Assurance Engagements ASAE 3450 Assurance

Engagements involving Corporate Fundraisings and/or Prospective Financial Information.

A review consists of making enquiries, primarily of persons responsible for financial and accounting matters, and

applying analytical and other review procedures. Our procedures included:

A consistency check of the application of the stated basis of preparation to the Historical and Pro Forma

Historical Financial Information;

A review of the Company’s and its auditors’ work papers, accounting records and other documents;

Enquiry of directors, management personnel and advisors;

Consideration of the pro forma adjustments described in Note 1 of the Appendix to this Report; and

Performance of analytical procedures applied to the Historical and Pro Forma Historical Financial Information.

A review is substantially less in scope than an audit conducted in accordance with Australian Auditing Standards and

consequently does not enable us to obtain reasonable assurance that we would become aware of all significant

matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusions

Historical Financial Information

Based on our review, which is not an audit, nothing has come to our attention that causes us to believe that the

Historical Financial Information, as set out in the Appendix to this Report, and comprising:

the statement of comprehensive income and statement of cash flows of Tesoro for the period from the date of

incorporation to 30 June 2018 and the year ended 30 June 2019; and

the statements of financial position of the Company and Tesoro as at 30 June 2019;

is not presented fairly, in all material respects, in accordance with the stated basis of preparation, as described in

Note 2 of the Appendix to this Report.

Pro Forma Historical Financial Information

Based on our review, which is not an audit, nothing has come to our attention that causes us to believe that the Pro

Forma Historical Financial Information, as set out in the Appendix to this Report, and comprising the pro forma

statement of financial position of the Company as at 30 June 2019, is not presented fairly in all material respects, in

accordance with the stated basis of preparation, as described in Note 2 of the Appendix of this Report.

Restriction on Use

Without modifying our conclusions, we draw attention to the purpose of the financial information, being for inclusion

in the Prospectus. As a result, the financial information may not be suitable for use for another purpose.

4

Responsibility

RSM has consented to the inclusion of this assurance report in the Prospectus in the form and context in which it is

included. RSM has not authorised the issue of the Prospectus. Accordingly, RSM makes no representation regarding,

and takes no responsibility for, any other documents or material in, or omissions from, the Prospectus.

Disclosure of Interest

RSM Australia Partners, an entity related to RSM Corporate Australia Pty Ltd, is the auditor of the Company and of

Tesoro.

RSM does not have any pecuniary interest that could reasonably be regarded as being capable of affecting its ability

to give an unbiased conclusion in this matter. RSM will receive a professional fee for the preparation of this Report.

Yours faithfully

JUSTIN AUDCENT Director

5

TESORO RESOURCES LIMITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

FOR THE PERIOD FROM THE DATE OF INCORPORATION TO 30 JUNE 2018 AND THE YEAR ENDED 30 JUNE 2019

Year endedPeriod from

incorporation to

30-Jun-19 30-Jun-18

Audited Audited

$ $

Interest revenue 197 1,577

Expenses

Administration expenses (8,227) (24,266)

Corporate and compliance expenses (69,231) (179,025)

Depreciation (266) (187)

Employee related expenses (181,210) (206,816)

Equity based payment (40,000) -

Impairment of assets (31,922) (130,749)

Interest and finance expenses (22,995) (4,082)

Legal expenses (66,751) (125,622)

Other expenses (90,016) (135,339)

Foreign currency translation (8) (970)

Loss before income tax expense (510,429) (805,479)

Income tax expense - -

Net loss for the period (510,429) (805,479)

Other comprehensive (loss)/income - -

Items that may be reclassified to profit or loss

Exchange differences on translation of foreign operations (14,728) 223,431

Other comprehensive (loss)/income for the period, net of tax (14,728) 223,431

Total comprehensive loss for the period (525,157) (582,048)

Investors should note that past results are not a guarantee of future performance.

6

TESORO RESOURCES LIMITED CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE PERIOD FROM THE DATE OF INCORPORATION TO 30 JUNE 2018 AND FOR THE YEAR ENDED 30 JUNE 2019

Year endedPeriod from

incorporation to

30-Jun-19 30-Jun-18

Audited Audited

$ $

Cash flows from operating activitiesInterest received 197 1,577

Interest paid (1,687) (1,452)

Payments to suppliers and employees (392,433) (488,990)

Net cash used in operating activities (393,923) (488,865)

Cash flows from investing activitiesPayments for exploration and evaluation (1,119,938) (1,681,523)

Purchase of plant and equipment (1,184) (570)

Net cash used in investing activities (1,121,122) (1,682,093)

Cash flows from financing activitiesProceeds from share issue 816,540 1,907,588

Proceeds from borrowings 583,480 400,000

Net cash provided by financing activities 1,400,020 2,307,588

Net (decrease)/increase in cash and cash equivalents (115,025) 136,630

Cash and cash equivalents at beginning of the financial year/period 135,661 -

Effect of exchange rate changes on cash and cash equivalents - (969)

Cash and cash equivalents at end of the financial year/period 20,636 135,661

Investors should note that past results are not a guarantee of future performance.

7

PLUKKA LIMITED HISTORICAL AND PRO FORMA CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS AT 30 JUNE 2019

Minimum Maximum

Tesoro PlukkaSubsequent

eventsPro forma

adjustments Pro formaPro forma

adjustments Pro forma

Audited Audited Unaudited Unaudited Unaudited Unaudited Unaudited

Note 30-Jun-19 30-Jun-19 30-Jun-19 30-Jun-19 30-Jun-19 30-Jun-19 30-Jun-19

$ $ $ $ $ $ $

AssetsCurrent assets

Cash and cash equivalents 4 20,636 405,805 300,000 3,889,010 4,615,451 4,827,934 5,554,375

Trade and other receivables 5 56,340 8,995 - - 65,335 - 65,335

Other current assets - 36,727 - 36,727 - 36,727

Total current assets 76,976 451,527 300,000 3,889,010 4,717,513 4,827,934 5,656,437

Non-current assets Exploration and evaluation expenditure

2,870,423 - - -

2,870,423 -

2,870,423

Plant and equipment 1,300 - - - 1,300 - 1,300

Total non-current assets 2,871,723 - - - 2,871,723 - 2,871,723

Total assets 2,948,699 451,527 300,000 3,889,010 7,589,236 4,827,934 8,528,160

Liabilities

Current liabilities

Trade and other payables 6 263,827 243,505 - (132,738) 374,594 (132,738) 374,594

Borrowings 7 467,011 - 300,000 (747,011) 20,000 (747,011) 20,000

Total current liabilities 730,838 243,505 300,000 (879,749) 394,594 (879,749) 394,594

Total liabilities 730,838 243,505 300,000 (879,749) 394,594 (879,749) 394,594

Net assets 2,217,861 208,022 - 4,668,749 7,094,632 5,608,749 8,034,632

Equity

Issued capital 8 3,325,066 21,770,206 - (14,820,119) 10,275,153 (13,883,857) 11,211,415

Reserves 9 208,703 - - 1,772,145 1,980,848 1,772,145 1,980,848 Foreign currency translation reserve - (484,079)

484,079 - 484,079 -

Accumulated losses 10 (1,315,908) (21,078,105) - 17,332,654 (5,061,359) 17,335,316 (5,058,697)

Total equity 2,217,861 208,022 - 4,768,759 7,194,642 5,707,683 8,133,566

The unaudited pro forma statement of financial position represents the audited statement of financial position of the Company as at 30 June 2019 adjusted for the pro forma transactions outlined in Note 1 of this Appendix. It should be read in conjunction with the notes to the historical and pro forma financial information.

8

1. Introduction

The financial information set out in this Appendix consists of the Historical Financial Information together with the Pro Forma Historical Financial Information.

The Pro Forma Historical Financial Information has been compiled by aggregating the statement of financial position of the Company as at 30 June 2019 and the statement of financial position of Tesoro as at 30 June 2019, and reflecting the Directors’ pro forma adjustments for the impact of the following subsequent events and other transactions which are proposed to occur immediately before or following completion of the Offer.

Adjustments adopted in compiling the Pro Forma Historical Financial Information

The following subsequent event transactions have occurred since 30 June 2019:

(i) On 12 August 2019 Tesoro entered into convertible loan agreements (“Convertible Loan Agreements”) with

various unrelated parties in order to raise $300,000. The Convertible Loan Agreements are non-interest

bearing and are repayable in full on 1 February 2020 unless conversion into shares has occurred prior to

that date.

and the following pro forma transactions are yet to occur, but are proposed to occur immediately before or following

completion of the Offer:

(ii) Completion of a 15:4 share consolidation reducing the shares on issue in the Company from 175,535,232

to 46,809,395 (“Share Consolidation”);

(iii) The issue of a minimum of 150,000,000 and a maximum of 183,333,333 fully paid ordinary shares in the

Company at $0.03 each to raise a minimum of $4,500,000 and a maximum of $5,500,000 before costs

pursuant to the Offer;

(iv) The payment of cash costs related to the Offer estimated to be between $485,990 (Minimum Subscription)

and $547,066 (Maximum Subscription);

(v) Completion of the acquisition of Tesoro though the issue of 112,294,158 fully paid ordinary shares

(“Consideration Shares”).

(vi) The issue of 19,166,667 fully paid ordinary shares in the Company to PAC Partners (or its nominees) for its

role as Lead Manager in connection with the Offer (“Lead Manager Shares”);

(vii) The issue of 625,000 fully paid ordinary shares to PAC Partners (or its nominees) for its role in the Tesoro

Convertible Loan Raising (“Facilitation Shares”);

(viii) The payment of $75,000 and the issue of 16,824,967 fully paid ordinary shares in the Company (at an issue

price of $0.03 per share) to creditors of Tesoro on conversion of debt totalling $504,749, being entities

associated with Mr Geoffrey McNamara (a director of Tesoro);

(ix) The assignment of the Convertible Loan Agreements to the Company and issue of 12,500,000 shares upon

successful completion of the Offer in accordance with the Convertible Loan Agreement, at a conversion

price of $0.024 per Share, which is 20% less than the Offer price;

(x) The issue of 136,840,000 unlisted performance rights (“Incentive Rights”) to the Proposed Directors of the

Company. Incentive Rights have a nil exercise price and expire between 18 months and 60 months from

the date of issue; and

(xi) A sign-on bonus of $50,000 payable to Mr Zeffron Reeves in connection with his appointment as Managing

Director, effective on the date of the Company’s re-admission to the ASX.

The Pro Forma Historical Financial Information has been presented in an abbreviated form and does not contain all the disclosures usually provided in an Annual Report prepared in accordance with the Corporations Act 2001.

9

2. Statement of significant accounting policies

(a) Basis of preparation

The Historical Financial Information has been prepared in accordance with the recognition and measurement requirements of the Australian Accounting Standards (“AAS”), adopted by the Australian Accounting Standards Board (“AASB”) and the Corporations Act 2001.

The Pro Forma Financial Information presented in the Prospectus as at 30 June 2019 has been compiled by adjusting the statement of financial position of the Company and of Tesoro after reflecting the Directors’ pro forma adjustments.

The significant accounting policies that have been adopted in the preparation and presentation of the Historical Financial Information and the Pro forma Historical Financial Information (together, the “Financial Information”) are set out below.

(b) Basis of measurement

The Financial Information has been prepared on the historical cost basis except for financial instruments classified at fair value through profit or loss, which are measured at fair value.

(c) Functional and presentation currency

The Financial Information is presented in Australian dollars, which is the Company’s functional currency.

(d) Use of estimates and judgements

The preparation of Financial Information in conformity with Australian Accounting Standards requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised and in any future periods affected.

(e) Going concern

The Financial Information has been prepared on a going concern basis, which contemplates continuity of normal business activities and the realisation of assets and discharge of liabilities in the normal course of business.

(f) Income Tax

The income tax expense or benefit for the period is the tax payable on the entity’s taxable income for that period based on the applicable income tax rate for each jurisdiction, adjusted by the changes in deferred tax assets and liabilities attributable to temporary differences, unused tax losses and the adjustment recognised for prior periods, where applicable.

(g) Cash and Cash Equivalents

Cash and cash equivalents includes cash on hand, deposits held at call with financial institutions and other short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.

For the statement of cash flows presentation purposes, cash and cash equivalents consist of cash and cash equivalents as described above, net of outstanding bank overdrafts.

(h) Current and non-current classifications

Assets and liabilities are presented in the statement of financial position based on current and non-current classification.

An asset is classified as current when: it is either expected to be realised or intended to be sold or consumed in the company's normal operating cycle; it is held primarily for the purpose of trading; it is expected to be realised within 12 months after the reporting period; or the asset is cash or a cash equivalent unless restricted from being exchanged or used to settle a liability for at least 12 months after the reporting period. All other assets are classified as non-current.

10

A liability is classified as current when: it is either expected to be settled in the company's normal operating cycle; it is held primarily for the purpose of trading; it is due to be settled within 12 months after the reporting period; or there is no unconditional right to defer the settlement of the liability for at least 12 months after the reporting period. All other liabilities are classified as non-current.

(i) Revenue Recognition

Revenue is recognised when it is probable that the economic benefit will flow to the entity and the revenue can be reliably measured. Revenue is measured at the fair value of the consideration received or receivable.

Revenue from contracts with customers

Revenue is recognised at an amount that reflects the consideration to which the consolidated entity is expected to be entitled in exchange for transferring goods or services to a customer. For each contract with a customer, the consolidated entity: identifies the contract with a customer; identifies the performance obligations in the contract; determines the transaction price which takes into account estimates of variable consideration and the time value of money; allocates the transaction price to the separate performance obligations on the basis of the relative stand-alone selling price of each distinct good or service to be delivered; and recognises revenue when or as each performance obligation is satisfied in a manner that depicts the transfer to the customer of the goods or services promised.

Variable consideration within the transaction price, if any, reflects concessions provided to the customer such as discounts, rebates and refunds, any potential bonuses receivable from the customer and any other contingent events. Such estimates are determined using either the 'expected value' or 'most likely amount' method. The measurement of variable consideration is subject to a constraining principle whereby revenue will only be recognised to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue recognised will not occur. The measurement constraint continues until the uncertainty associated with the variable consideration is subsequently resolved. Amounts received that are subject to the constraining principle are recognised as a refund liability.

(j) Interest

Interest revenue is recognised as interest accrues using the effective interest method. This is a method of calculating the amortised cost of a financial asset and allocating the interest income over the relevant period using the effective interest rate, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to the net carrying amount of the financial asset.

(k) Trade and other receivables

Trade receivables are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method, less any allowance for expected credit losses. Trade receivables are generally due for settlement within 30 days.

The consolidated entity has applied the simplified approach to measuring expected credit losses, which uses a lifetime expected loss allowance. To measure the expected credit losses, trade receivables have been grouped based on days overdue.

Other receivables are recognised at amortised cost, less any allowance for expected credit losses.

(l) Trade and Payables

These amounts represent liabilities for goods and services provided to the entity prior to the end of the financial period and which are unpaid. Trade payables are recognised at their transaction price. They are subject to normal credit terms and do not bear interest.

(m) Exploration and evaluation expenditure

Exploration, evaluation and development expenditure incurred is accumulated in respect of each identifiable area of interest. These costs are only carried forward to the extent that they are expected to be recouped through the successful development of the area or where activities in the area have not yet reached a stage that permits reasonable assessment of the existence of economically recoverable reserves. Accumulated costs in relation to an abandoned area are written off in full against profit in the period in which the decision to abandon the area is made. When production commences, the accumulated costs for the relevant area of interest are amortised over the life of the area according to the rate of depletion of the economically recoverable reserves. A regular review is undertaken of each area of interest to determine the appropriateness of continuing to carry forward costs in relation to that area of interest.

11

(n) Issued capital

Ordinary shares are classified as equity.

Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from the proceeds.

(o) Goods and services tax

Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is not recoverable from the Australian Taxation Office. In these circumstances the GST is recognised as part of the cost of acquisition of the asset or as part of the expense.

Receivables and payables are stated inclusive of the amount of GST receivable or payable. The net amount of GST recoverable from, or payable to, the tax authority is included in other receivables or other payables in the statement of financial position.

Cash flows are presented on a gross basis. The GST components of cash flows arising from investing or financing activities which are recoverable from, or payable to the tax authority, are presented as operating cash flows.

Commitments and contingencies are disclosed net of the amount of GST recoverable from, or payable to, the tax authority.

(p) Borrowings

Loans and borrowings are initially recognised at the fair value of the consideration received. They are subsequently measured at amortised cost using the effective interest method.

(q) Finance costs

Finance costs attributable to qualifying assets are capitalised as part of the asset. All other finance costs are expensed in the period in which they are incurred.

(r) New Accounting Standards and Interpretations not yet mandatory or early adopted

Australian Accounting Standards and Interpretations that have recently been issued or amended but are not yet mandatory, have not been early adopted by the consolidated entity for the reporting period ended 30 June 2019. The consolidated entity's assessment of the impact of these new or amended Accounting Standards and Interpretations, most relevant to the consolidated entity, are set out below.

AASB 16 Leases

This standard is applicable to annual reporting periods beginning on or after 1 January 2019. The standard replaces AASB 117 'Leases' and for lessees will eliminate the classifications of operating leases and finance leases. Subject to exceptions, a 'right-of-use' asset will be capitalised in the statement of financial position, measured at the present value of the unavoidable future lease payments to be made over the lease term. The exceptions relate to short-term leases of 12 months or less and leases of low-value assets (such as personal computers and small office furniture) where an accounting policy choice exists whereby either a 'right-of-use' asset is recognised or lease payments are expensed to profit or loss as incurred. A liability corresponding to the capitalised lease will also be recognised, adjusted for lease prepayments, lease incentives received, initial direct costs incurred and an estimate of any future restoration, removal or dismantling costs.

Straight-line operating lease expense recognition will be replaced with a depreciation charge for the leased asset (included in operating costs) and an interest expense on the recognised lease liability (included in finance costs). In the earlier periods of the lease, the expenses associated with the lease under AASB 16 will be higher when compared to lease expenses under AASB 117. However EBITDA (Earnings Before Interest, Tax, Depreciation and Amortisation) results will be improved as the operating expense is replaced by interest expense and depreciation in profit or loss under AASB 16. For classification within the statement of cash flows, the lease payments will be separated into both a principal (financing activities) and interest (either operating or financing activities) component. For lessor accounting, the standard does not substantially change how a lessor accounts for leases.

12

The consolidated entity will adopt this standard from 1 July 2019 and its impact on adoption is not expected to have a material impact on transactions and balances recognised in the financial statements.

3. Reverse acquisition

The proposed acquisition of Tesoro (the legal subsidiary) by the Company (the legal parent) is deemed to be a reverse acquisition as the substance of the transaction is such that the existing shareholders of Tesoro will obtain control of the Company. However, the Company is not considered to meet the definition of a business under AASB 3 Business Combinations (AASB 3) and, as such, it has been concluded that the Acquisition cannot be accounted for in accordance with the guidance set out in AASB 3. Therefore, consistent with the accepted practice for transactions similar in nature to the Acquisition, the Acquisition has been accounted for in the financial information of the legal acquirer (the Company) as a continuation of the financial statements of the legal acquiree (Tesoro), together with a share based payment measured in accordance with AASB 2 Share Based Payment (AASB 2), which represents a deemed issue of shares by the legal acquiree (Tesoro), equivalent to current shareholders interest in the Company after the Acquisition. The excess of the assessed value of the share based payment over the net assets of the Company has been expensed to the income statement as a listing fee.

The Company (legal parent, accounting acquiree) will issue 112,294,158 ordinary shares to Tesoro’s shareholders who, as a result, will own approximately 70.6% of the combined entity at settlement of the Acquisition prior to the Offer. The remaining 29.4% will be owned by the current shareholders of the Company.

UnauditedPro forma

30-Jun-19$

Cash and cash equivalents 405,805 Trade and other receivables 8,995 Other current assets 36,727 Trade and other payables (243,505)Net assets of the Company acquired on reverse acquisition 208,022

Assessed fair value of asset acquired: - Post-consolidation Company shares on issue 46,809,395 - Post-consolidation value per share under the Prospectus 0.03

Deemed fair value of share-based payment, assessed in accordance with AASB 2 1,404,282

Pro forma listing expense recognised on reverse acquisition 1,196,260

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4. Cash and cash equivalents

NoteTesoro

Audited

Unaudited Pro forma

Min.

Unaudited Pro forma

Max.

30-Jun-19 30-Jun-19 30-Jun-19

$ $ $

Cash and cash equivalents 20,636 4,615,451 5,554,375

Tesoro cash and cash equivalents as at 30 June 2019 20,636 20,636

Subsequent events are summarised as follows:

Proceeds from the issue of convertible notes 1(i) 300,000 300,000

300,000 300,000

Adjustments arising in the preparation of the pro forma statement of financial position are summarised as follows:

Company cash as at 30 June 2019 405,805 405,805

Proceeds from the Offer pursuant to the Prospectus 1(iii) 4,500,000 5,500,000

Capital raising costs 1(iv) (485,990) (547,066)

Repayment of loan to Tesoro creditors 1(viii) (75,000) (75,000)

Sign-on bonus payable to Mr Zeffron Reeves 1(xi) (50,000) (50,000)

4,294,815 5,233,739

Pro forma cash and cash equivalents 4,615,451 5,554,375

5. Trade and other receivables

NoteTesoro

Audited

Unaudited Pro forma

Min.

Unaudited Pro forma

Max.

30-Jun-19 30-Jun-19 30-Jun-19

$ $ $

Trade and other receivables 56,340 65,335 65,335

Tesoro trade and other receivables as at 30 June 2019 56,340 56,340


Trade and other receivables acquired as part of the Acquisition 8,995 8,995

Pro forma trade and other receivables 65,335 65,335

14

6. Trade and other payables

NoteTesoro

Audited

Unaudited Pro forma

Min.

Unaudited Pro forma

Max.

30-Jun-19 30-Jun-19 30-Jun-19

$ $ $

Trade and other payables 263,827 374,594 374,594

Tesoro trade and other payables as at 30 June 2019 263,827 263,827


Trade and other payables acquired as part of Acquisition 243,505 243,505

Conversion of debt to equity 1(viii) (132,738) (132,738)

Pro forma trade and other payables 374,594 374,594

7. Borrowings

NoteTesoro

Audited

Unaudited Pro forma

Min.

Unaudited Pro forma

Max.

30-Jun-19 30-Jun-19 30-Jun-19

$ $ $

Borrowings 467,011 20,000 20,000

Tesoro borrowings as at 30 June 2019 467,011 467,011


Funds received under the Convertible Note 1(i) 300,000 300,000

300,000 300,000


Tesoro creditors conversion of debt to equity 1(viii) (372,011) (372,011)

Repayment of loan to Tesoro creditors 1(viii) (75,000) (75,000)

Convertible note converted to equity 1(ix) (300,000) (300,000)

(747,011) (747,011)

Pro forma borrowings 20,000 20,000

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8. Issued Capital

Note

Number of shares

(Min.)$

(Min.)

Number of shares(Max.)

$(Max.)

Issued share capital as at 30 June 2019 175,535,232 3,325,066 175,535,232 3,325,066


Share consolidation 1(ii) (128,725,837) - (128,725,837) -

Fully paid ordinary shares issued at $0.03 pursuant to the Offer under the Prospectus 1(iii) 150,000,000 4,500,000 183,333,333 5,500,000

Cash costs associated with the share issue pursuant to this Prospectus 1(iv) - (352,694) - (416,432)

Consideration Shares issued to the Vendor 1(v) 112,294,158 1,404,282 112,294,158 1,404,282

Shares issued to the Lead Manager 1(vi) 19,166,667 575,000 19,166,667 575,000Facilitation shares issued upon completion of the Offer 1(vii) 625,000 18,750 625,000 18,750Shares issued on conversion of Director Loan 1(viii) 16,824,967 504,749 16,824,967 504,749Shares issued on conversion of Convertible Loans 1(ix) 12,500,000 300,000 12,500,000 300,000

182,684,955 6,950,087 216,018,288 7,886,349

Pro forma issued share capital 358,220,187 10,275,153 391,553,520 11,211,415

9. Reserves

NoteTesoro

Audited

Unaudited Pro forma

Min.

Pro forma Unaudited

Max.

30-Jun-19 30-Jun-19 30-Jun-19

$ $ $

Reserves 208,703 1,980,848 1,980,848

Tesoro reserves as at 30 June 2019 208,703 208,703


Cost of Incentive Rights 1(x) 1,772,145 1,772,145

1,772,145 1,772,145

Pro forma reserves 1,980,848 1,980,848

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(a) Performance Rights

Pursuant to the Offer, the Company will issue 136,840,000 Performance Rights to the Proposed Directors of the Company. The Performance Rights will each be convertible into one ordinary share in the Company and will vest in four tranches, subject to meeting specific milestones prior to the expiry date for each tranche as follows:

i. (Class A) 46,720,000 performance rights on the Company establishing an inferred resource of equal to or greater than 250,000 ounces equivalent at a gold grade of 1 gram per tonne or greater, as defined by the JORC Code, at the El Zorro Project or the Espina Project, with an expiry date 18 months after completion of the Acquisition;

ii. (Class B) 50,060,000 performance rights on the Company establishing an inferred resource of equal to or greater than one million ounces equivalent at a gold grade of 1 gram per tonne or greater, as defined by the JORC Code, at the El Zorro Project or the Espina Project, with an expiry date 36 months after completion of the Acquisition;

iii. (Class C) 20,030,000 performance rights on the Company establishing an inferred resource of equal to or greater than two million ounces equivalent at a gold grade of 1 gram per tonne or greater, as defined by the JORC Code, at the El Zorro Project or the Espina Project, with an expiry date 48 months after completion of the Acquisition;

iv. (Class D) 20,030,000 on the Company completing either a Bankable Feasibility Study or a Definitive Feasibility Study in relation to any resource (as defined by the JORC Code) at the El Zorro Project or the Espina Project, confirming the relevant project is commercially viable, with an expiry date 60 months after completion of the Acquisition.

The pro forma fair value of the Performance Rights has been assessed as $1.77 million.

The Performance Rights have been valued using a standard binomial pricing model based on the fair value of a Company share at the grant date, using the following assumptions:

Assumptions Class A Class B Class C Class D

Probability of achievement 75% 30% 15% 30%

Stock price $0.03 $0.03 $0.03 $0.03

Exercise price Nil Nil Nil Nil

Expiry period 1.5 years 3 years 4 years 5 years

Expected future volatility 100% 100% 100% 100%

Risk free rate 0.79% 0.79% 0.86% 0.86%

Dividend yield 0% 0% 0% 0%

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10. Accumulated Losses

NoteTesoro

Audited

Pro forma Unaudited

Min.

Pro forma Unaudited

Max.

30-Jun-19 30-Jun-19 30-Jun-19

$ $ $

Accumulated losses (1,315,908) (5,061,359) (5,058,697)

Tesoro accumulated losses as at 30 June 2019 (1,315,908) (1,315,908)


Option fee income - -


Listing costs expensed 1(iv) (133,296) (130,634)

Lead Manager shares 1(vi) (575,000) (575,000)

Facilitation shares 1(vii) (18,750) (18,750)

Cost of Incentive Rights 1(x) (1,772,145) (1,772,145)

Sign-on bonus payable to Mr Zeffron Reeves 1(xi) (50,000) (50,000)

Listing fee arising from reverse acquisition 3 (1,196,260) (1,196,260)

(3,745,451) (3,742,789)

Pro forma accumulated losses (5,061,359) (5,058,697)

PLUKKA LIMITED TO BE RENAMED 'TESORO ... - ASX

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