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Significant Copper, Nickel and Gold Results From Karratha District

HIGHLIGHTS Diamond drilling at NRV06 successfully intersected zones over several metres of disseminated to stringer style Ni and Cu sulphide (pentlandite…

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HIGHLIGHTS

  • Diamond drilling at NRV06 successfully intersected zones over several metres of disseminated to stringer style Ni and Cu sulphide (pentlandite and chalcopyrite) in the Andover Intrusion (assays pending), with spot assaying using a pXRF of up to 0.95% Ni and 0.25% Cu.
  • Drilling at the Morto Lago target delivered key intercepts (0.3 g/t Au cut-off) of:
    • 3 m @ 3.35 g/t Au from 9 m in KC329;
    • 4 m @ 6.74 g/t Au from 8 m (4 m composite) in KC365; and
    • 5 m @ 1.73 g/t Au from 15 m including 2 m @ 4.06 g/t Au from 18 m in KC369.
  • Results from drilling at the Milburn FLEM anomaly, interpreted up dip of the Artemis Chapman Prospect1, include:
    • 13 m @ 0.39% Cu, 0.19% Ni and 0.013% Co from 92 m (KC354), including 3 m @ 0.59% Cu, 0.34% Ni and 0.021% Co from 94 m;
    • 18 m @ 0.34% Cu, 0.24% Ni and 0.015% Co from 67 m (KC355), including 6 m @ 0.46% Cu, 0.32% Ni and 0.016% Co from 67 m;
    • 5 m @ 0.65% Cu, 0.40% Ni and 0.02% Co from 12 m (KC356); and
    • 19 m @ 0.35% Cu, 0.18% Ni and 0.012% Co from 60 m (KC360), including 8 m @ 0.48% Cu, 0.24% Ni and 0.014% Co from 70 m.
  • These promising assay results are reported from Novo’s drilling program in the Karratha District, where Novo is exploring for high-grade Au (Cu-Co) adjacent to Artemis Resources Limited’s (“Artemis”) (ASX:ARV) Carlow Castle Au (Cu-Co) discovery (“Carlow Castle”) and Ni-Cu-Co adjacent to Azure Minerals Limited’s (“Azure”) (ASX:AZS) Andover Ni-Cu-Co discovery (“Andover”).
  • Novo is currently conducting downhole EM (“DHEM”) on Ni-Cu-Co targets at the Southcourt, NRV06, and Milburn Prospects.
 

Commenting on the precious and base metal results generated in the Karratha District, Mr. Mike Spreadborough, Novo’s Executive Co-Chairman, Director, and acting Chief Executive Officer said,

“This set of assays from our widespread drill program in the Karratha District has generated exciting results. We are fortunate to control a dominant landholding in the Pilbara, which comprises a strong pipeline of exploration targets and we are committed to investing in the drill bit as we strive to deliver discovery success and build long-term shareholder value.”

“The high-grade results from the Morto Lago area and positive results from the Milburn area provide us with a compelling platform to continue our aggressive approach to exploration in 2023. We await the next set of assays from 47k and 48K, Sullam, NRV06, Southcourt and Morto Lago North and will also complete downhole EM surveys which will generate the next set of drill targets.”

VANCOUVER, British Columbia, Dec. 09, 2022 (GLOBE NEWSWIRE) — Novo Resources Corp. (“Novo” or the “Company”) (TSX: NVO, NVO.WT & NVO.WT.A) (OTCQX: NSRPF) is pleased to provide an exploration update on the Company’s drilling program in the Karratha District, located within Novo’s 10,500 sq km Pilbara exploration portfolio (Figure 1).

Figure 1: Novo’s Pilbara tenements and project location.
https://www.globenewswire.com/NewsRoom/AttachmentNg/eefa8df7-dfc3-4ef0-bac2-643dd0bd86e1

A key focus of Novo’s gold and battery metals exploration strategy2 is the systematic and rapid progression of drilling advanced targets in the Karratha District, particularly within the Purdy’s North area (Figure 2), located adjacent to Azure’s Andover discovery and Artemis’s Carlow Castle discovery.

Novo has completed a first-pass exploration drilling program in the Karratha District, focused on testing numerous prospects for structurally controlled high-grade Au (Cu-Co) mineralization, and magmatic Ni-Cu-Co mineralization in the Andover Intrusion and associated mafic-ultramafic intrusions. Results referred to in this news release are not necessarily representative of mineralization throughout the Purdy’s North project.

101 RC drill holes (KC312 to 407) for 12,408 m and 3 diamond drill holes for 556.2 m (KD902 to 904) have been completed. Drilling tested the following key prospects:

  • Au targets at Morto Lago, 47K and 48K; and
  • Ni-Cu-Co targets at Southcourt, NRV06, Milburn and Sullam.

Diamond drilling successfully intersected zones over several metres of disseminated to stringer style Ni and Cu sulphides, in ultramafic rocks of the Andover Intrusion at NRV06, with assays pending. Portable XRF assaying (pXRF) indicated that pentlandite and chalcopyrite are present, with spot assays of up to 0.95% Ni and 0.25% Cu.

Figure 2: Prospect location at Purdy’s North and the Maitland/Dingo intrusive areas3.
https://www.globenewswire.com/NewsRoom/AttachmentNg/ad8d692e-a47b-4410-a647-45132217af62

Figure 3: Hole KD902 at approximately 103.52 m, showing disseminated and stringer sulphides. Spot assays of sulphide with pXRF yielded 0.79% Ni and 0.21% Cu.
https://www.globenewswire.com/NewsRoom/AttachmentNg/d6b66a9b-bcdc-41c7-885a-f09fc9eaacbb

Drilling at Morto Lago (Figure 2) included sectional traverses at 160 m spacings and holes 40 m apart. Elsewhere, reconnaissance style drilling included single hole tests or a few sections with 1 to 3 drill holes. Nineteen drill holes have been cased with 40 mm poly pipe in order to conduct DHEM with 11 loops planned, in order to test a number of targets for massive to sub-massive Ni sulphide bodies adjacent to holes already drilled. This high-priority geophysical survey is currently in progress.

Results have been received for drill holes up to KC381, with results pending for a number of areas including 47k and 48K, Sullam, NRV06 and parts of Southcourt and Morto Lago.

Results from the Morto Lago area include best intercepts (0.3 g/t Au cut-off) of:

  • 3 m @ 3.35 g/t Au from 9 m KC329;
  • 4 m @ 6.74 g/t Au from 8 m (4 m composite) in KC365; and
  • 5 m @ 1.73 g/t Au from 15 m including 2 m @ 4.06 g/t Au from 18 m in KC369

The true width of these intercepts is unknown as the target is covered by clay overburden. Refer to Table 1 in Appendix 1 below for a listing of drill results.

Results from the Milburn FLEM anomaly, interpreted to be the up dip of the Artemis Chapman Prospect1, include:

  • 13 m @ 0.39% Cu, 0.19% Ni and 0.013% Co from 92 m (KC354), including 3 m @ 0.59% Cu, 0.34% Ni and 0.021% Co from 94 m;
  • 18 m @ 0.34% Cu, 0.24% Ni and 0.015% Co from 67 m (KC355), including 6 m @ 0.46% Cu, 0.32% Ni and 0.016% Co from 67 m;
  • 5 m @ 0.65% Cu, 0.40% Ni and 0.02% Co from 12 m (KC356); and
  • 19 m @ 0.35% Cu, 0.18% Ni and 0.012% Co from 60 m (KC360), including 8 m @ 0.48% Cu, 0.24% Ni and 0.014% Co from 70 m.

These results are interpreted to be >80% true width. Refer to Table 2 and 3 in Appendix below for a listing of significant drill results.

True width intersections may reduce for gold targets once geological setting is fully understood, however current widths for nickel-copper targets are predicted to be true widths.

Figure 4: RC drill rig at the Morto Lago Prospect, in the Karratha District.
https://www.globenewswire.com/NewsRoom/AttachmentNg/e1e217fa-d6db-40e3-96d2-833f220c0976

Figure 5: Novo geologists logging diamond core at the NRV06 Prospect.
https://www.globenewswire.com/NewsRoom/AttachmentNg/cb4f1e29-dc33-4579-b457-88163dc68ec0

ANALYTIC METHODOLOGY

Drill holes targeting gold

RC drilling was sampled as either 4 m composite samples using a spear, or if visual parameters such as percentage of quartz veins or sulphide mineralization, or alteration intensity were deemed to warrant, as 1 m cone splits directly off the drill rig. Any 4 m composite samples that contain > 0.1 g/t Au mineralization on receival of results were re-submitted as 1 m cone split samples. Thus, all samples containing gold mineralization in 4 m composites, or any intervals with significant signs of potential mineralization, were assayed as cone splits. All RC chips as 1 to 4 kg samples were sent to Intertek Genalysis (“Intertek”) in Perth, Western Australia with the entire sample smart crushed to -3 mm (NVO02 prep code), with a 500 g split sample analyzed for gold using PhotonAssayTM (PHXR/AU01). QAQC protocols included insertion of a certified blank approximately every 50 samples (2 per hundred 500g coarse blank CRMS) certified standards for PhotonAssayTM Au at approximately every 50 samples and duplicate sampling (split of 4 m composite) at the rate of 4 per hundred. Further to this, Intertek inserts customized Chrysos certified standards at the rate of 2 per hundred.

Drill holes targeting Ni-Cu-Co

RC drilling was sampled as either 4 metre composite samples using a spear, or if visual parameters such as sulphide mineralization were deemed to warrant, as 1 m cone splits directly off the drill rig. All RC chips as 1 to 4 kg samples were sent to Intertek in Perth, Western Australia and were crushed and pulverized and assayed for Au, Pt and Pd by four acid digest and 50 g charge fire assay (FA50/MS) and for 48 multielement using four acid digest – MS finish (4A/MS). QAQC protocols included insertion of a certified blank approximately every 25 samples (4 per hundred, 2 of which are 500 g coarse blank CRMS and two of which are 60 g pulverised -80# CRMs), certified standards for Ni, Cu and Co approximately every 25 samples and duplicate sampling (split of 4 m composite) at the rate of 4 per hundred.

pXRF

The pXRF assay technique utilized a Niton XL5 handheld XRF machine. The Niton XL5 is calibrated daily, with 4 QAQC standards (fit for purpose including certified Ni, Cu and Co values) run concurrently, with an additional 2 standards checked per 100 readings and 4 QAQC standard assayed before the machine is shut down. pXRF is utilized as a preliminary exploration technique for base metals. Drill core samples are point analysed for 90 seconds using 4 machine filters. The pXRF is a spot reading device and has diminished precision due to grainsize effect, especially on rock samples where peak results represent a window of < 10 mm field of view. The pXRF usage on core as stated in this release, is not representative of the entire interval, rather representative of a small area of certain sulphide minerals or clusters of sulphide minerals and related wall rocks.

There were no limitations to the verification process and all relevant data was verified by a qualified person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) by reviewing analytical procedures undertaken by Intertek.

QP STATEMENT

Mr. Iain Groves (MAIG), is the qualified person, as defined under NI 43-101, responsible for, and having reviewed and approved, the technical information contained in this news release. Mr. Groves is Novo’s Exploration Manger – West Pilbara.

ABOUT NOVO

Novo explores and develops its prospective land package covering approximately 10,500 square kilometres in the Pilbara region of Western Australia, including the Beatons Creek gold project, along with two joint ventures in the Bendigo region of Victoria, Australia. In addition to the Company’s primary focus, Novo seeks to leverage its internal geological expertise to deliver value-accretive opportunities to its stakeholders. For more information, please contact Leo Karabelas at (416) 543-3120 or e-mail [email protected]

On Behalf of the Board of Directors,

Novo Resources Corp.

Michael Spreadborough

Michael Spreadborough

Executive Co-Chairman and Acting CEO

Forward-looking information

Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, planned exploration activities across the Purdy’s North project. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, customary risks of the resource industry and the risk factors identified in Novo’s management’s discussion and analysis for the nine-month period ended September 30, 2022, which is available under Novo’s profile on SEDAR at www.sedar.com. Forward-looking statements speak only as of the date those statements are made. Except as required by applicable law, Novo assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward-looking statements. If Novo updates any forward-looking statement(s), no inference should be drawn that the Company will make additional updates with respect to those or other forward-looking statements.

APPENDIX:
Table 1: Karratha Area – RC and DD drilling data – hole locations.

HOLE ID COORDSYS EASTING NORTHING RL AZI GRID DIP TYPE DEPTH LEASE
KC312 MGA94_50 509119.5 7698400.2 24.0 180 -55 RC 80 E47/1745
KC313 MGA94_50 509119.9 7698799.3 22.6 360 -55 RC 84 E47/1745
KC314 MGA94_50 509120.0 7698807.8 22.5 180 -55 RC 36 E47/1745
KC315 MGA94_50 509119.4 7698599.4 23.2 180 -55 RC 90 E47/1745
KC316 MGA94_50 509123.2 7698639.4 22.9 180 -55 RC 118 E47/1745
KC317 MGA94_50 509119.8 7698557.0 23.0 360 -55 RC 108 E47/1745
KC318 MGA94_50 509120.1 7698519.5 22.8 360 -55 RC 115 E47/1745
KC319 MGA94_50 509118.4 7698598.8 23.2 360 -55 RC 108 E47/1745
KC320 MGA94_50 509118.1 7698681.8 22.6 360 -55 RC 80 E47/1745
KC321 MGA94_50 509117.5 7698721.1 22.7 360 -55 RC 90 E47/1745
KC322 MGA94_50 509118.4 7698762.0 22.7 360 -55 RC 72 E47/1745
KC323 MGA94_50 509118.4 7698481.0 23.2 360 -55 RC 180 E47/1745
KC324 MGA94_50 509117.9 7698439.9 23.3 360 -55 RC 84 E47/1745
KC325 MGA94_50 509038.7 7698600.5 23.4 360 -55 RC 78 E47/1745
KC326 MGA94_50 509038.5 7698560.5 23.7 360 -55 RC 108 E47/1745
KC327 MGA94_50 509039.7 7698519.9 23.5 360 -55 RC 144 E47/1745
KC328 MGA94_50 509279.5 7698720.0 22.1 360 -55 RC 84 E47/1745
KC329 MGA94_50 509279.5 7698680.3 22.0 360 -55 RC 78 E47/1745
KC330 MGA94_50 509279.5 7698641.4 21.9 360 -55 RC 108 E47/1745
KC331 MGA94_50 509279.4 7698597.8 21.9 360 -55 RC 162 E47/1745
KC332 MGA94_50 509440.4 7698719.8 21.4 360 -55 RC 102 E47/1745
KC333 MGA94_50 509277.1 7698561.2 22.0 360 -55 RC 102 E47/1745
KC334 MGA94_50 509277.6 7698511.8 22.2 360 -55 RC 150 E47/1745
KC335 MGA94_50 509440.2 7698680.0 21.5 360 -55 RC 170 E47/1745
KC336 MGA94_50 509440.3 7698762.6 21.3 360 -55 RC 90 E47/1745
KC337 MGA94_50 509440.6 7698801.3 21.1 360 -55 RC 95 E47/1745
KC338 MGA94_50 509439.3 7698841.4 20.8 360 -55 RC 84 E47/1745
KC339 MGA94_50 509440.1 7698638.5 21.3 360 -55 RC 78 E47/1745
KC340 MGA94_50 509440.1 7698599.9 21.3 360 -55 RC 78 E47/1745
KC341 MGA94_50 509441.0 7698558.7 21.3 360 -55 RC 96 E47/1745
KC342 MGA94_50 509038.7 7698481.8 23.4 360 -55 RC 120 E47/1745
KC343 MGA94_50 508781.3 7698826.9 24.7 320 -55 RC 96 E47/1745
KC344 MGA94_50 508799.6 7698921.0 23.9 360 -55 RC 96 E47/1745
KC345 MGA94_50 508800.4 7698881.6 24.2 360 -55 RC 126 E47/1745
KC346 MGA94_50 508801.2 7698841.2 24.6 360 -55 RC 138 E47/1745
KC347 MGA94_50 508959.7 7698961.8 23.3 360 -55 RC 84 E47/1745
KC348 MGA94_50 508960.1 7698920.9 23.2 360 -55 RC 126 E47/1745
KC349 MGA94_50 508958.0 7698878.7 23.2 360 -55 RC 150 E47/1745
KC350 MGA94_50 508961.0 7698921.1 23.2 180 -55 RC 48 E47/1745
KC351 MGA94_50 508983.1 7698406.2 24.6 70 -55 RC 102 E47/1745
KC352 MGA94_50 508944.2 7698390.5 24.9 70 -55 RC 120 E47/1745
KC353 MGA94_50 508824.2 7698351.2 26.8 70 -55 RC 163 E47/1745
KC354 MGA94_50 508861.4 7698292.5 28.3 70 -55 RC 162 E47/1745
KC355 MGA94_50 508861.7 7698184.7 27.1 70 -55 RC 132 E47/1745
KC356 MGA94_50 508971.3 7698213.4 25.0 70 -55 RC 60 E47/1745
KC357 MGA94_50 509003.4 7698223.6 24.6 70 -55 RC 132 E47/1745
KC358 MGA94_50 509038.1 7698059.8 25.5 70 -55 RC 126 E47/1745
KC359 MGA94_50 509075.4 7698081.3 24.9 70 -55 RC 96 E47/1745
KC360 MGA94_50 508883.9 7698209.8 28.4 70 -55 RC 114 E47/1745
KC361 MGA94_50 509018.4 7697876.8 24.9 145 -55 RC 120 E47/1745
KC362 MGA94_50 509062.3 7697807.5 24.4 145 -55 RC 78 E47/1745
KC363 MGA94_50 509017.7 7697878.1 24.9 325 -55 RC 174 E47/1745
KC364 MGA94_50 508991.4 7698042.7 25.3 70 -55 RC 126 E47/1745
KC365 MGA94_50 508798.2 7698963.4 23.3 360 -55 RC 108 E47/1745
KC366 MGA94_50 508996.0 7698915.8 23.2 270 -55 RC 150 E47/1745
KC367 MGA94_50 509120.8 7698960.1 22.2 360 -55 RC 96 E47/1745
KC368 MGA94_50 509119.9 7698922.1 22.6 360 -55 RC 90 E47/1745
KC369 MGA94_50 509120.0 7698880.0 22.6 360 -55 RC 72 E47/1745
KC370 MGA94_50 509120.0 7698840.1 22.5 360 -55 RC 84 E47/1745
KC371 MGA94_50 508361.4 7694962.7 52.9 180 -55 RC 186 E47/1745
KC372 MGA94_50 508874.2 7695032.6 47.8 270 -55 RC 138 E47/1745
KC373 MGA94_50 508805.7 7694810.4 51.3 110 -55 RC 180 E47/1745
KC374 MGA94_50 486654.2 7673820.8 69.3 239 -60 RC 126 E47/3443
KC375 MGA94_50 486730.6 7673778.0 69.4 239 -60 RC 150 E47/3443
KC376 MGA94_50 486680.0 7673933.0 69.2 240 -55 RC 144 E47/3443
KC377 MGA94_50 509294.7 7695000.2 49.6 175 -50 RC 270 E47/1745
KC378 MGA94_50 507460.4 7695044.8 52.5 345 -55 RC 150 E47/1745
KC379 MGA94_50 507480.0 7694997.6 53.6 345 -55 RC 258 E47/1745
KC380 MGA94_50 507526.5 7694972.9 53.3 195 -55 RC 228 E47/1745
KC381 MGA94_50 509218.5 7695030.3 51.5 209 -50 RC 324 E47/1745
KC382 MGA94_50 508796.2 7694801.9 51.6 180 -55 RC 336 E47/1745
KC383 MGA94_50 508565.1 7694948.0 51.7 150 -55 RC 336 E47/1745
KC384 MGA94_50 491903.6 7676161.3 87.1 325 -55 RC 60 E47/3443
KC385 MGA94_50 491915.1 7676143.8 87.3 325 -55 RC 186 E47/3443
KC386 MGA94_50 491930.3 7676121.7 87.2 325 -55 RC 138 E47/3443
KC387 MGA94_50 491941.2 7676094.9 86.7 325 -55 RC 198 E47/3443
KC388 MGA94_50 491795.7 7676315.6 92.9 60 -55 RC 252 E47/3443
KC389 MGA94_50 491973.0 7676711.9 96.9 155 -55 RC 60 E47/3443
KC390 MGA94_50 492019.2 7676656.1 96.9 330 -55 RC 198 E47/3443
KC391 MGA94_50 492002.5 7676679.4 96.8 330 -50 RC 78 E47/3443
KC392 MGA94_50 491407.2 7676346.4 97.2 150 -50 RC 78 E47/3443
KC393 MGA94_50 492064.8 7674733.7 87.1 325 -55 RC 78 E47/3443
KC394 MGA94_50 492075.2 7674695.5 87.7 325 -55 RC 150 E47/3443
KC395 MGA94_50 491990.6 7674696.4 90.6 330 -55 RC 78 E47/3443
KC396 MGA94_50 501718.9 7676317.2 87.7 300 -55 RC 66 P47/1847
KC397 MGA94_50 501717.8 7676317.8 87.7 300 -70 RC 318 P47/1847
KC398 MGA94_50 501665.2 7676190.9 81.4 300 -70 RC 318 P47/1847
KD901A MGA94_50 507391.7 7695360.2 76.1 298 -50 RC 3 E47/1745
KD901 MGA94_50 507391.7 7695360.2 76.1 298 -50 RC 122 E47/1745
KD902 MGA94_50 507550.0 7695342.2 73.3 170 -50 RCDD 316 E47/1745
KC399 MGA94_50 509280.6 7698960.2 22.3 360 -55 RC 78 E47/1745
KC400 MGA94_50 509279.9 7698922.3 21.6 360 -55 RC 78 E47/1745
KC401 MGA94_50 509280.6 7698879.2 21.3 360 -55 RC 78 E47/1745
KC402 MGA94_50 509280.8 7698838.3 22.0 360 -55 RC 78 E47/1745
KC403 MGA94_50 509280.8 7698801.2 22.0 360 -55 RC 78 E47/1745
KC404 MGA94_50 509280.2 7698759.5 22.1 360 -55 RC 42 E47/1745
KD903 MGA94_50 507533.4 7695464.8 59.4 170 -50 RCDD 198.1 E47/1745
KC405 MGA94_50 509760.4 7698883.0 21.2 360 -55 RC 72 E47/1745
KC406 MGA94_50 509760.3 7698839.6 21.0 360 -55 RC 78 E47/1745
KC407 MGA94_50 509763.2 7698800.1 20.1 360 -55 RC 78 E47/1745
KD904 MGA94_50 507517.8 7695523.1 57.9 315 -50 RCDD 242.1 E47/1745

Table 2: Karratha Area – Significant RC Au assay results >0.1 g/t Au, carried up to 2 m internal dilution

Hole Id From m To m method Au ppm Co ppm Cu ppm Ni ppm Zn ppm Width gram metres
KC317 28 33 CONE 0.242         5 1
KC317 65 66 CONE 0.28         1 0
KC318 76 80 COMP 0.73         4 3
KC321 66 70 COMP 0.1         4 0
KC323 5 6 CONE 1.01         1 1
KC323 18 22 COMP 0.17         4 1
KC323 42 46 COMP 0.37         4 1
KC323 164 165 CONE 0.27         1 0
KC324 27 28 CONE 0.14         1 0
KC327 15 16 CONE 0.31         1 0
KC329 9 13 CONE 2.56         4 10
KC329 17 18 CONE 0.16         1 0
KC330 72 75 CONE 0.253         3 1
KC331 82 83 CONE 0.12         1 0
KC331 95 97 CONE 0.67         2 1
KC331 146 148 CONE 0.425         2 1
KC333 7 8 CONE 1.39         1 1
KC333 31 32 CONE 0.27         1 0
KC333 39 41 CONE 0.205         2 0
KC333 59 61 CONE 2         2 4
KC333 74 78 CONE 0.453         4 2
KC335 90 93 CONE 0.2         3 1
KC335 147 150 CONE 0.37         3 1
KC336 40 41 CONE 0.201 17 18 10 95 1 0
KC338 1 4 COMP 0.127         3 0
KC339 48 56 COMP 0.537         8 4
KC340 72 76 COMP 0.185         4 1
KC342 22 27 CONE 0.176         5 1
KC342 52 56 COMP 0.147         4 1
KC342 68 72 CONE 0.524         4 2
KC343 54 58 COMP 0.291         4 1
KC344 72 73 CONE 0.104 21 2127 8 60 1 0
KC344 74 75 CONE 0.103 15 1544 10 51 1 0
KC344 86 90 CONE 0.717 25 1992 12 112 4 3
KC345 90 91 CONE 0.183 34 6761 6 272 1 0
KC345 94 95 CONE 0.118 20 2442 5 132 1 0
KC345 97 105 CONE 0.133 19 2167 9 103 8 1
KC345 115 120 CONE 0.263 35 1747 29 45 5 1
KC347 59 60 CONE 0.42 47 1367 162 133 1 0
KC348 50 54 COMP 0.26         4 1
KC349 82 84 CONE 0.415 9 2867 7 103 2 1
KC349 134 135 CONE 0.11 25 151 5 10 1 0
KC349 136 137 CONE 0.128 148 914 24 27 1 0
KC349 144 145 CONE 0.119 11 142 6 36 1 0
KC351 23 24 CONE 0.108 50 4760 286 52 1 0
KC351 30 31 CONE 0.137 26 1745 95 43 1 0
KC351 53 54 CONE 0.251 45 88 174 110 1 0
KC352 44 45 CONE 0.114 27 3237 191 47 1 0
KC352 96 100 COMP 0.102 51 88 128 110 4 0
KC354 73 74 CONE 0.222 61 1345 1028 83 1 0
KC354 105 106 CONE 0.265 147 5232 1617 87 1 0
KC354 129 130 CONE 0.399 14 57 6 51 1 0
KC358 12 15 CONE 0.103 158 2310 1942 105 3 0
KC358 74 75 CONE 0.123 31 804 51 84 1 0
KC363 20 24 COMP 0.164 325 8757 0 2388 4 1
KC364 34 36 COMP 0.251 254 1113 2153 94 2 1
KC365 8 16 COMP 3.463         8 28
KC365 42 49 CONE 0.101         7 1
KC365 55 62 CONE 0.128         7 1
KC365 68 73 CONE 0.126         5 1
KC366 0 4 COMP 0.795         4 3
KC367 18 22 COMP 0.305         4 1
KC367 42 43 CONE 0.255         1 0
KC368 58 59 CONE 0.105         1 0
KC369 8 12 COMP 0.683         4 3
KC369 15 20 CONE 1.735         5 9
KC369 30 31 CONE 0.23         1 0
KC369 49 50 CONE 0.106         1 0
KC381 216 220 COMP 0.288 129 54 1557 80 4 1

Table 3: Karratha Area – Significant RC Au assay results >1000 ppm Cu carried up to 2 m internal dilution

Hole Id From m To m method Cu ppm Ni ppm Co ppm Au ppm Ag ppm Width
KC360 60 79 CONE 3489 1829 121 0.016 2.1 19
KC355 67 87 CONE 3264 2278 142 0.019 2.0 20
KC358 5 32 CONE 2224 1914 133 0.035 1.1 27
KC354 92 109 CONE 3322 1542 110 0.034 1.8 17
KC356 4 17 COMP 3476 2213 129 0.014 1.9 13
KC359 0 16 COMP 2744 1486 105 0.03 1.0 16
KC363 20 24 COMP 8757 0 325 0.164 9.7 4
KC364 62 72 CONE 2161 2023 120 0.014 1.1 10
KC351 21 31 CONE 2115 165 33 0.056 1.4 10
KC364 30 46 COMP 1311 1646 140 0.053 0.7 16
KC345 97 105 CONE 2167 9 19 0.133 2.4 8
KC358 45 50 CONE 3071 2375 115 0.021 1.4 5
KC345 90 95 CONE 2810 5 33 0.089 4.5 5
KC352 42 46 CONE 2724 155 27 0.065 2.2 4
KC344 70 76 CONE 1719 10 20 0.073 1.6 6
KC353 126 127 CONE 10229 185 46 0.081 7.5 1
KC353 104 109 CONE 2003 1403 114 0.017 0.7 5
KC345 115 120 CONE 1747 29 35 0.263 1.6 5
KC344 88 89 CONE 7088 15 34 0.999 4.0 1
KC360 52 56 COMP 1739 903 82 0.004 1.0 4
KC361 10 15 CONE 1328 2095 146 0.006 0.2 5
KC349 82 84 CONE 2867 7 9 0.415 3.0 2
KC352 37 38 CONE 2421 1513 142 0.012 1.0 1
KC353 94 95 CONE 1673 1260 70 0.01 0.7 1
KC359 37 38 CONE 1431 844 65 0.008 0.6 1
KC347 59 60 CONE 1367 162 47 0.42 12.5 1
KC354 73 74 CONE 1345 1028 61 0.222 0.4 1
KC352 73 74 CONE 1330 209 60 0.031 1.2 1
KC353 91 92 CONE 1226 1400 113 0.007 0.5 1
KC363 51 52 CONE 1106 1098 111 0.006 0.8 1
KC353 89 90 CONE 1106 310 53 0.01 0.4 1
KC345 84 85 CONE 1100 17 18 0.025 1.0 1
KC352 19 20 CONE 1048 1035 62 0.013 0.1 1

_______________________________________________________

1 Refer to Artemis’ public disclosure record
2 Refer to the Company’s news release dated August 2, 2022.
3 Refer to Artemis’ and Azure’s public disclosure records.

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