Announcement PDF 16 November 2023 Andromeda Metals Limited ASX: ADN ASX Announcement 10/431 King William Street Adelaide, SA 5000 Tel:+61 8 7089 9800 admin@andromet.com.au ABN 75 061 503 375 Chairlift Kaolin Deposit Mineral Resource Estimate Andromeda Metals Limited (ASX: ADN) (Andromeda, the Company) is pleased to announce an inaugural Mineral Resource Estimate (MRE) reported in accordance with the 2012 JORC Code and Guidelines has been completed for the Chairlift kaolin deposit in South Australia. 1 Highlights • • • A combined Inferred Resource of 53.5 million tonnes (Mt) of kaolin comprised of: o 27.0 Mt of Bright White, low titanium kaolinised granite (Chairlift CRM); and, o 26.5 Mt of rheology modifier kaolin (Chairlift HRM). The low titanium content of Chairlift CRM, with average TiO2 of 0.18%: o compliments that of the Great White Deposit’s kaolin; o is perfectly suited for the high-quality porcelain ceramics market2; and o is a potential additive and/or modifier for the high end coatings market. Chairlift HRM has the same rheological properties as Great White HRM™, expanding the potential market opportunities for the HRM product range. • The HRM “Rheology Index” methodology for determining the rheology modifying potential of kaolin, is propriety to, and developed by, Andromeda. • Exploration upside potential, with mineralisation open in multiple directions. Bob Katsiouleris, Andromeda’s CEO and Managing Director, said: “The Chairlift Deposit adds to the number of high quality resources now surrounding The Great White Project, further cementing the global significance of the region for high quality kaolin products. “These resources significantly expand the potential market opportunities for Andromeda in the high-end porcelain ceramics and low-carbon concrete markets, further supporting the long-term benefits and future expansion opportunities of the planned development of The Great White Project. In addition, The Chairlift Deposit has the potential to further expand Andromeda’s participation in the fast-growing, high-end market segments for white minerals, such as performance coatings and pharmaceuticals.” 1 Chairlift is located on exploration license EL 6664 and is part of the Eyre Kaolin Project. Andromeda is currently sole funding expenditure on the Eyre Kaolin Project to earn up to an 80% interest from Peninsula Exploration Pty Ltd. Refer ADN ASX announcement dated 12 August 2021 titled Andromeda enters New Kaolin Joint Venture on the Eyre Peninsula, SA. 2 Subject to end-use customer validation and homologation test work. Discussion Andromeda Metals Limited is pleased to report the inaugural Chairlift Mineral Resource Estimate (MRE) reported in accordance with the 2012 JORC Code and Guidelines. The Chairlift Deposit is located on exploration license EL 6664 and lies 61 km to the southeast of the Great White Deposit and 30 km southwest of Wudinna on the Eyre Peninsula of South Australia. Andromeda is currently sole funding expenditure to earn up to an 80% interest in the Eyre Kaolin Project from Peninsula Exploration Pty Ltd (Peninsula)3. Figure 1: Great White Project and EKJV tenements New 2012 JORC Mineral Resource Estimate Summary An Inferred Mineral Resource Estimate for the Chairlift Deposit of 53.5Mt of kaolinised granite reported at an ISO brightness (R457) cut-off of 75 in the <45 µm size fraction is shown in Table 1 below. The Resource comprises of 27.0 Mt of Chairlift CRM, a low iron and low titanium kaolin suitable for use in high end ceramics, and 26.5 Mt of Chairlift HRM, a rheology modifier targeted for use in cementitious construction products and other industrial applications where solid matter needs to be suspended & stabilised. Chemical analyses and brightness for Chairlift HRM are only reported for completeness. Properties normally considered deleterious to kaolinite such as high iron and titanium, or low brightness have no effect on the performance of Chairlift HRM. For HRM (whether from Chairlift or Great White) the only number of 3 Refer ADN ASX announcement dated 12 August 2021 titled Andromeda enters New Kaolin Joint Venture on the Eyre Peninsula, SA. Andromeda Metals Limited | 2 significance is the “Rheology Index”, determined using a propriety Andromeda methodology, is a measure of the rheology modifying potential of the kaolin. Table 1 – Chairlift Kaolin Mineral Resource PSD <45µm % Kaolinite % 27.0 49.2 45 Chairlift HRM 26.5 51.6 47 Total 53.5 50.4 46 Product Mt Chairlift CRM Note that all figures are rounded to reflect appropriate levels of confidence. The MRE yields 26.9 Mt of kaolin product in the <45 µm recovered fraction, with the remaining approximate 49.6 % of material being largely residual quartz derived from the weathered granite. The MRE contains 13.3 Mt of <45 µm with an ISO B of 82.8 suitable for Chairlift CRM (refer Table 2), and an additional 13.7 Mt of <45 µm suitable for Chairlift HRM. Table 2 – Chairlift Kaolin Mineral Resource Kaolinite Product Mt Brightness + Al2O3 Fe2O3 TiO2 Rheology <45µm ISO B Halloysite % % % RI % Chairlift CRM 13.3 82.8 91.0 36.6 0.50 0.18 - Chairlift HRM 13.7 81.0 91.0 36.8 0.74 0.18 7.9 Total 26.9 81.9 91.0 36.7 0.62 0.18 - Note that all figures are rounded to reflect appropriate levels of confidence. The Chairlift MRE’s Chairlift CRM component compares favourably with and compliments the 2020 Great White MRE4. Table 3 – 2023 Chairlift kaolin MRE compared to 2020 Great White kaolin MRE Kaolinite Product Mt Brightness + Al2O3 Fe2O3 TiO2 <45µm ISO B Halloysite % % % % Chairlift CRM 13.3 82.8 91.0 36.6 0.50 0.18 Great White 17.4 83.2 92.0 36.5 0.5 0.5 Note that all figures are rounded to reflect appropriate levels of confidence. Eyre Kaolin Project Joint Venture Terms The binding Heads of Agreement (HOA) with private entity Peninsula Exploration Pty Ltd (Peninsula) formed the Eyre Kaolin Project Joint Venture 5. Peninsula holds title to four exploration licences that cover 2,799 4 Refer ADN ASX announcement dated 26 November 2020 Updated Mineral Resource for the Great White Kaolin JV Deposit. Refer ADN ASX announcement dated 12 August 2021 titled Andromeda enters New Kaolin Joint Venture on the Eyre Peninsula, SA. 5 Andromeda Metals Limited | 3 square kilometres located on the Eyre Peninsula of South Australia and which are adjacent to, or in close proximity to, tenements that comprise The Great White Project (TGWP). Andromeda can earn up to an 80% interest in the EKJV tenements through sole funding expenditure of $2.75 million over 6 years from the commencement of the Joint Venture. The principal terms of the Farm-in and Joint Venture Heads of Agreement are as follows: • Andromeda to make an initial payment to Peninsula of $20,000 upon execution of the HOA • A minimum expenditure requirement of $140,000 (exclusive of tenement rents) to be spent by Andromeda on the Project tenements within 12 months of commencement of the EKJV • Stage 1 expenditure obligation by Andromeda of $750,000 (exclusive of tenement rents and which is inclusive of the minimum expenditure requirement) within 3 years of commencement to earn a 51% interest in the EKJV (Stage 1 commitment) • Andromeda can elect to sole fund an additional $2 million over a further 3 years on meeting Stage 1 to earn an additional 29% interest, taking its overall interest in the EKJV to 80% (Stage 2 commitment) • If a JORC 2012 compliant Measured and Indicated Resource of at least 50Mt (with a minimum of 80 ISO Brightness and maximum total 1wt% Fe2O3 + TiO2 calculated from the -45um fraction) is calculated over the EKJV tenements, Andromeda will issue Peninsula with $500,000 worth of ADN shares, and • Peninsula has the option to convert its remaining interest of 20% into a 1.5% net profit royalty following a Decision to Mine. If Peninsula elects not to convert its Participating Interest, or fails to exercise its option within 10 business days, the parties are required to negotiate a good faith production joint venture agreement and the production area relevant to the Decision to Mine will be excised from the Joint Venture. Mineral Resource Detail The 2023 Chairlift Resource Estimate is based on exploration undertaken by Andromeda in 2022 and 2023. The drilling and sampling procedures were the same used for the Great White Kaolin Deposit which were reviewed by H&S Consultants and assessed as having no obvious issues. All drillhole data used for the MRE is contained in an announcement lodged with ASX by Andromeda on 29 November 2022 and titled “Exploration Target Defined for Chairlift and Extensive High-Halloysite intercepts at Halfpipe” and in Appendix 1 and Appendix 2 of this report. Andromeda has completed 59 rotary air blast (RAB)/aircore (AC) drill holes (1,737.3 metres). All 59 drillholes were drilled vertically to intersect the flat-lying mineralisation at right angles with most holes intersecting the upper (hanging wall) and lower (footwall) contacts to the mineralisation. The Company’s composited samples were wet sieved at Bureau Veritas S.A. (BV) in Adelaide to determine percentage passing <45µm, with the recovered material then analysed by BV using their XRF 4B method to determine elements that include Al2O3, Fe2O3, and TiO2. Brightness on the <45 µm material was determined by Andromeda staff at an enclosed laboratory room at the Streaky Bay pilot plant using a Technidyne Colourtouch CT-PC Spectrophotometer in accordance with Tappi standard T534 om-15. Additional spectrometry mineral analyses and rheology index (RI) measurements were undertaken inhouse using proprietary methods. The MRE covers two areas separated by a palaeo channel that drains to the northwest. The western part of the deposit covers an area of approximately 1.9 km E-W by 1.9 km N-S and remains open to the west and to the south with a thickness ranging from 2 m to 12 m with an average thickness of 6.6 m and depth Andromeda Metals Limited | 4 of 11.6 m. The eastern part of the deposit covers an area of approximately 1.1 km E-W by 3.9 km N-S and is largely constrained by current drilling with a thickness ranging from 2 m to 23 m with an average thickness of 7.9 m and depth of 12.3 m. A plan view of the geological interpretation for the kaolin body is shown in Figures 2 and 3 and structure contours of the top of the kaolin mineralisation showing the thickness of the kaolin is shown in Figure 3. Overburden, which has an average thickness of 12.0 m consists of a thin soil layer which overlies a mixed sequence of alluvial clays, sands and gravels. On occasions the top of the kaolin is silicified and the base of silicification marks the top of the kaolin resource whilst the change in weathering intensity marks the base of the kaolin resource. Figure 2: Block model coloured by ISO B, drill collars and kaolin thickness contours (GDA 94 MGA 53) Andromeda Metals Limited | 5 Figure 3: Block model coloured by RI, drill collars and cover depth contours (GDA 94 MGA 53) The drilling and sampling procedures and analytical methods implemented by Andromeda were the same used for the Great White Kaolin Deposit at Poochera which had been reviewed by H&S Consultants (2019) and assessed as having no obvious issues with the sampling or analysis of the data. Composite intervals were extracted from the drillhole database constrained by the kaolin wireframes. Grade interpolation of the kaolinite was completed for the minus 45 micron recovered material, along with ISO B, Al 2O3, Fe2O3, and TiO2 and RI, all obtained on the minus 45-micron fraction. Statistical analysis of the composite data was undertaken and showed reasonably well-structured data with low coefficients of variation, all of which resulted in no top cuts being applied. Inverse distance squared (ID2) was chosen as the most appropriate method for the grade interpolation. Maptek’s Vulcan software was used for modelling and the grade interpolation which used a two-pass search domain of 500m by 500m by 5m followed by a 750 m by 750 m second pass. Parent block size was 100m by 100m by 2.5m (X, Y & Z), with 25m by 25m by 1.25 m sub-blocking. Three wireframes were used to define the kaolinised granite (upper and lower saprolite) within the mineralised zone. These wireframes were also used for the “Bend Unfolding Model”. Other wireframes were used to map out geological boundaries above the mineralised zones, but these have no impact on the resource. Resource classification of Inferred was based on internal blocks populated by a single interval within 200m of a hole that intersected potentially economic mineralisation such that the Inferred classification extends no further than 200m past the outer limit holes. Andromeda Metals Limited | 6 Block model validation consisted of a visual comparison of block grades with drillhole assays and composite values and a review of the summary statistics for the block grades and composite values. No density measurements have been determined on the Chairlift kaolin. For the MRE a density of 1.46 t/m3 was used which is the average dry bulk density of kaolin from the Great White deposit. The triangulations that define the mineralisation were based off the lithological units but upper and lower extents of the saprolite were restricted to an ISO B of >75%. Blocks with <0.6 % Fe2O3 were assigned as CRM, the details for the Chairlift CRM upper and lower saprolite, by domain, are reported below in Tables 4 and 5. Table 4 – Chairlift CRM comparison by domain between Upper and Lower Saprolite Chairlift CRM Mt <45 µm (%) Kaolinite (%) Upper saprolite - west 10.01 52.3 49 Upper saprolite - east 10.60 50.9 47 Upper saprolite - all 20.61 51.6 48 Lower saprolite - west 5.15 39.6 33 Lower saprolite - west 1.25 49.1 43 Lower saprolite - west 6.39 41.5 35 Chairlift CRM total 27.00 49.2 45 Note that all figures are rounded to reflect appropriate levels of confidence. Table 5 – Chairlift CRM comparison by domain between Upper and Lower Saprolite in the <45µm Kaolinite Chairlift CRM Mt Brightness + Al2O3 Fe2O3 TiO2 Rheology <45µm ISO B Halloysite % % % RI % Upper saprolite - west 5.23 94.0 83.3 37.5 0.48 0.19 - Upper saprolite - east 5.40 92.0 82.5 36.8 0.5 0.16 - Upper saprolite - all 10.63 93.0 82.9 37.2 0.49 0.18 - Lower saprolite - west 2.04 83.0 82.5 34.8 0.52 0.21 - Lower saprolite - west 0.61 87.0 82.2 35.9 0.48 0.2 - Lower saprolite - west 2.65 84.0 82.4 35 0.51 0.21 - Chairlift CRM total 13.28 91.0 82.8 36.6 0.5 0.18 - Note that all figures are rounded to reflect appropriate levels of confidence. Of the remaining blocks, those with >6.0 RI were assigned as HRM, the details for the Chairlift HRM by domain, are reported below in Tables 6 and 7. Table 6 – Chairlift HRM by domain Chairlift HRM Mt <45 µm (%) Kaolinite (%) Chairlift HRM - west 20.61 51.8 47 Chairlift HRM - east 5.85 50.6 46 Chairlift HRM total 26.46 51.6 47 Note that all figures are rounded to reflect appropriate levels of confidence. Table 7 – Chairlift HRM by domain in the <45µm Andromeda Metals Limited | 7 Kaolinite Chairlift HRM Mt Brightness + Al2O3 Fe2O3 TiO2 Rheology <45µm ISO B Halloysite % % % RI % Chairlift HRM - west 10.7 91.0 81.3 36.7 0.75 0.18 8.1 Chairlift HRM - east 3.0 91.0 80.2 36.8 0.71 0.16 7.1 Chairlift HRM total 13.7 91.0 81 36.8 0.74 0.18 7.9 Note that all figures are rounded to reflect appropriate levels of confidence. Comparison between the 2022 Exploration Target and the 2023 MRE The 2022 Exploration Target6 of 80-120Mt of High Bright White kaolin with an ISO B in the range of 80 to 84 in the <45 µm fraction was based off 8 mineralisation intersecting aircore drillholes. The 2023 MRE in comparison comprises of 53.5 Mt with an ISO B of 81.9. Additional exploration potential remains at Chairlift, particularly extension to the east and the south and to the west of CH22AC016 (from 12m, 10m @ 85.0), located on Figure 2. Next Step Future work to upgrade the resource estimation category will require additional drilling to reduce the drillhole spacings, obtain more samples for dry bulk density determinations and undertake hydrogeological studies. This announcement has been approved for release by the Board of Directors of Andromeda Metals Limited. For more information about the Company and its projects, visit our website www.andromet.com.au or contact: Manager, Investor Relations & Corporate Affairs Patrick Sinclair T: 08 7089 9819 M: 0403 708 431 E: Patrick.Sinclair@andromet.com.au Competent Persons Statement The data that relates to exploration results and Mineral Resource Estimates are based on information compiled and evaluated by Mr. Eric Whittaker who is a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM). Mr. Whittaker is the Chief Geologist of Andromeda Metals Limited and has sufficient experience 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 (the “JORC Code”). Mr. Whittaker has over 30 years of experience in the mining industry. Mr. Whittaker consents to the information in the form and context in which it appears. 6 Refer ADN ASX announcement dated 29 November 2022 titled Exploration Target Defined for Chairlift and Extensive HighHalloysite intercepts at Halfpipe. Andromeda Metals Limited | 8 APPENDIX 1 –CHAIRLIFT AIRCORE DRILL COLLARS Hole ID Easting (MGA94 Z53) Northing (MGA94 Z53) Collar RL (m) Hole Inclination Hole Azimuth Final Depth (m) Domain CH22AC001 519,702.46 6,324,066.56 90.151 -90 0 44 East CH22AC002 519,104.29 6,325,522.18 103.966 -90 0 23.5 East CH22AC003 519,600.64 6,325,459.37 116.556 -90 0 27 East CH22AC004 519,806.11 6,326,197.21 107.791 -90 0 25 CH22AC005 520,188.35 6,325,314.81 117.078 -90 0 5 CH22AC006 520,619.53 6,325,263.28 98.892 -90 0 36 CH22AC007 519,905.88 6,324,879.44 113.287 -90 0 24 CH22AC008 518,995.46 6,324,723.26 99.166 -90 0 26 CH22AC009 518,099.44 6,325,816.04 93.122 -90 0 33 CH22AC010 518,251.72 6,326,757.01 99.789 -90 0 21 CH22AC011 517,151.92 6,325,979.90 85.392 -90 0 45 CH22AC012 516,044.17 6,326,065.23 87.915 -90 0 58 CH22AC013 515,368.99 6,326,711.64 82.826 -90 0 45 CH22AC014 516,135.37 6,327,501.49 72.801 -90 0 47 CH22AC015 516,683.72 6,328,062.80 81.538 -90 0 46 CH22AC016 517,150.87 6,328,547.44 85.23 -90 0 26 CH22AC017 518,104.70 6,328,497.97 83.46 -90 0 42 CH22AC018 519,153.84 6,327,642.17 87.02 -90 0 35 CH22AC019 519,852.18 6,327,064.51 97.925 -90 0 27 CH22AC020 520,023.21 6,327,904.98 91.665 -90 0 46 CH22AC021 519,469.66 6,324,632.48 102.476 -90 0 38 CH22AC022 518,482.28 6,323,461.06 111.863 -90 0 17 CH22AC023 517,589.14 6,323,317.31 107.346 -90 0 20 CH22AC024 518,510.57 6,325,342.47 95.795 -90 0 39 CH22AC025 518,326.80 6,324,930.43 95.955 -90 0 30 CH22AC026 517,026.53 6,323,967.41 106.139 -90 0 25 West CH22AC027 515,892.61 6,324,128.91 91.304 -90 0 28 West CH22AC028 517,850.61 6,329,331.35 81.753 -90 0 17 CH23AC001 519,670.44 6,323,584.77 79.53 -90 0 31 CH23AC002 520,275.59 6,323,998.94 82.347 -90 0 22.5 CH23AC003 519,953.33 6,324,501.82 105.684 -90 0 34 CH23AC004 520,448.71 6,324,590.33 95.665 -90 0 18 CH23AC005 519,776.03 6,325,862.57 115.912 -90 0 13 CH23AC006 519,044.36 6,326,018.60 103.621 -90 0 35 East CH23AC007 519,161.16 6,326,547.04 98.69 -90 0 36 East CH23AC008 518,099.63 6,326,367.68 90.081 -90 0 25 East CH23AC009 518,408.68 6,327,154.32 102.055 -90 0 15 East CH23AC010 518,575.59 6,327,562.24 90.755 -90 0 18.1 East CH23AC011 517,806.78 6,327,589.85 85.8 -90 0 31 CH23AC012 517,247.42 6,328,051.76 84.788 -90 0 40 CH23AC013 517,591.42 6,326,995.02 89.47 -90 0 39 CH23AC014 519,398.25 6,325,028.89 108.878 -90 0 29 East CH23AC015 518,996.24 6,325,200.61 102.113 -90 0 28 East CH23AC016 518,995.26 6,323,931.22 99.664 -90 0 24 East East East East East Andromeda Metals Limited | 9 Hole ID Easting (MGA94 Z53) Northing (MGA94 Z53) Collar RL (m) Hole Inclination Hole Azimuth Final Depth (m) Domain CH23AC017 517,408.75 6,324,236.10 104.427 -90 0 21 West CH23AC018 516,666.76 6,324,147.40 103.509 -90 0 21.2 West CH23AC019 516,275.26 6,324,351.66 99.953 -90 0 24 West CH23AC020 515,926.01 6,324,533.03 94.111 -90 0 21 CH23AC021 516,287.82 6,324,003.90 97.184 -90 0 21 West CH23AC022 515,863.90 6,323,273.96 105.273 -90 0 33 West CH23AC023 515,847.07 6,323,663.64 94.947 -90 0 31 West CH23AC024 516,844.27 6,323,739.95 102.82 -90 0 34 West CH23AC025 516,533.26 6,323,326.74 100.916 -90 0 37 West CH23AC026 516,201.48 6,323,235.15 103.931 -90 0 20 West CH23AC027 516,192.73 6,323,520.24 97.348 -90 0 33 West CH23AC028 516,472.61 6,323,656.89 96.95 -90 0 27 West CH23AC029 516,598.33 6,323,921.01 100 -90 0 26 West CH23AC030 516,951.26 6,323,173.60 100.781 -90 0 29 West CH23AC031 516,628.56 6,324,641.84 101.565 -90 0 25 West Andromeda Metals Limited | 10 APPENDIX 2 – CHAIRLIFT AIRCORE DRILL CHEMISTRY RESULTS Hole ID From (m) To (m) Interval (m) <45µm (%) Kaolinite + Halloysite ISO B (%) Al2O3 (%) Fe2O3 (%) TiO2 (%) (%) Rheology (RI) CH22AC001 19 24 5 55.7 93 82.2 37.5 0.6 0.18 8.9 CH22AC001 24 25 1 55.9 90 70.8 36.4 1.3 0.17 6.6 CH22AC001 25 30 5 50.1 91 79.3 37 0.96 0.21 8 CH22AC001 30 35 5 53.4 91 81.7 36.9 0.8 0.16 7.3 CH22AC001 35 37 2 52.1 91 84.7 37.1 0.67 0.2 5.9 CH22AC001 37 41 4 45.5 87 84.3 36.6 0.66 0.18 6.8 CH22AC001 41 42 1 41 78 80.7 34.5 0.68 0.24 4 CH22AC002 9 14 5 47.6 92 86.2 37.3 0.3 0.26 2.4 CH22AC002 14 17 3 57.2 93 87.3 38 0.27 0.23 2.9 CH22AC002 17 20 3 39.9 79 76.7 35.1 0.57 0.23 1.2 CH22AC003 11 16 5 41.3 88 77.9 35.3 0.73 0.15 3.9 CH22AC003 16 20 4 48.4 84 85.7 36 0.56 0.17 6.6 CH22AC003 20 25 5 28.4 77 81.7 34.2 0.79 0.25 2.6 CH22AC004 11 15 4 22.7 75 68 30.2 0.94 0.28 0 CH22AC004 15 20 5 27.1 74 81.3 31.8 0.75 0.28 0.1 CH22AC004 20 24 4 23.8 69 79.9 31.4 0.8 0.36 0.1 CH22AC007 9 11 2 30.6 77 78.5 30.9 0.53 0.22 0 CH22AC007 11 16 5 36.9 86 83.4 34.7 0.61 0.24 1.6 CH22AC007 16 20 4 43.8 84 84.6 35.6 0.7 0.27 3.3 CH22AC010 8 12 4 50.4 94 83.5 37.8 0.43 0.19 3.2 CH22AC010 12 14 2 48.1 94 77.9 37.6 0.42 0.19 0.9 CH22AC010 14 18 4 49.5 93 81.7 37.5 0.4 0.17 1.4 CH22AC011 21 23 2 52.9 90 70.8 36.5 0.59 0.38 1.7 CH22AC011 23 27 4 51.8 90 65.5 36.4 0.56 0.37 0.2 CH22AC011 27 30 3 53.1 91 69.5 36.9 0.67 0.2 0 CH22AC011 30 35 5 45.4 82 56 35.2 0.53 0.24 0 CH22AC011 35 40 5 29.9 65 52 30.9 0.86 0.33 0 CH22AC012 21 23 2 49.3 84 68.6 33.9 0.86 1.08 1.8 CH22AC012 23 28 5 49.9 91 71.3 37 0.57 0.27 6.1 CH22AC012 28 32 4 48.3 92 69.3 37.2 0.62 0.2 5.9 CH22AC012 32 36 4 46.5 92 65 37.5 0.43 0.24 4.1 CH22AC012 36 41 5 45.8 92 59.7 37.3 0.5 0.19 0.9 CH22AC012 41 45 4 37 84 52 35.8 0.5 0.15 0 CH22AC012 45 48 3 32.1 70 45.9 32.1 0.97 0.19 0 CH22AC012 48 52 4 29.1 70 48.3 31.8 1.16 0.27 0 CH22AC012 52 56 4 24.1 65 53.8 30.1 1.13 0.43 0 CH22AC013 26 31 5 44.5 90 59.1 36.1 0.44 0.52 0.7 CH22AC013 31 36 5 50.3 93 68.9 37.5 0.55 0.19 2.8 CH22AC013 36 40 4 41.9 81 68.8 35.2 0.69 0.17 2.3 CH22AC014 31 33 2 48.1 83 51.6 33.4 0.56 0.64 0 CH22AC014 33 37 4 52.6 92 66.6 37.1 0.65 0.27 1.8 CH22AC014 37 40 3 47.4 93 52.4 37.4 0.53 0.2 0 CH22AC014 40 44 4 47.6 91 51.2 37.1 0.54 0.21 0 Andromeda Metals Limited | 11 Hole ID From (m) To (m) Interval (m) <45µm (%) Kaolinite + Halloysite ISO B (%) Al2O3 (%) Fe2O3 (%) TiO2 (%) (%) Rheology (RI) CH22AC015 21 24 3 45.4 88 75.9 35.3 0.66 0.35 7.1 CH22AC015 24 26 2 46.3 87 71.3 35.7 0.83 0.26 4.8 CH22AC015 26 31 5 46.6 90 67.9 36.6 0.72 0.26 5.6 CH22AC015 31 35 4 47.8 90 69.8 36.7 0.63 0.27 5.5 CH22AC015 35 40 5 37.5 78 70.7 34.6 0.67 0.28 4.3 CH22AC015 40 42 2 30.7 73 54.4 33 0.8 0.37 0 CH22AC016 13 17 4 53.5 95 86.8 38.1 0.45 0.15 0 CH22AC016 17 20 3 54.8 95 85.8 38.2 0.45 0.14 0 CH22AC016 20 23 3 41.1 83 81.9 35.8 0.52 0.19 5.6 CH22AC017 30 32 2 31.5 70 49 31.5 1.06 0.35 2.7 CH22AC017 32 36 4 31.6 70 42.4 32.1 1.01 0.32 6.7 CH22AC017 36 38 2 22.6 72 46 32.1 1.08 0.21 5.3 CH22AC018 17 22 5 54.5 91 68.6 36.7 0.65 0.25 5.6 CH22AC018 22 25 3 53.8 92 49.9 37.2 0.55 0.15 5.6 CH22AC018 25 29 4 43.7 83 50.1 35.7 0.44 0.15 5.6 CH22AC018 29 30 1 25.2 78 60.4 34.6 0.43 0.16 5.6 CH22AC018 30 32 2 35.5 81 61.3 35.2 0.6 0.18 1.8 CH22AC020 28 31 3 48 87 46.3 35.5 0.76 0.67 0.8 CH22AC020 31 36 5 42.3 78 42 34.1 0.78 0.44 0.5 CH22AC020 36 40 4 30.6 72 48.1 32.9 0.95 0.36 0.1 CH22AC020 40 44 4 29.3 67 55 31.6 1.44 0.36 5.6 CH22AC021 10 14 4 49.3 95 80.1 37.8 0.56 0.16 6.5 CH22AC021 14 19 5 45 93 67.5 37.4 0.63 0.2 9.1 CH22AC021 19 21 2 45.8 94 67.6 37.7 0.55 0.21 9.4 CH22AC021 21 26 5 41 83 63.8 35.6 0.63 0.26 0.5 CH22AC021 26 31 5 35 75 65.4 33.8 0.66 0.26 0 CH22AC021 31 36 5 32.2 68 65.7 31.6 0.84 0.42 1.8 CH22AC022 8 10 2 32.6 82 66.2 33.5 1.03 0.36 0 CH22AC022 10 14 4 34 80 77.4 32.8 0.78 0.22 0.5 CH22AC022 14 15 1 31.6 73 75.3 31.5 0.72 0.28 2.1 CH22AC023 6 11 5 35.9 82 73.8 33.3 0.96 0.24 4 CH22AC023 11 14 3 35.4 78 79.2 32.5 0.97 0.19 5.4 CH22AC023 14 16 2 36.1 70 79.3 31.3 1.1 0.22 4.4 CH22AC023 16 18 2 29.6 70 58.4 31.9 1.96 0.2 5.4 CH22AC024 27 32 5 39.1 79 64.5 33.6 1.29 0.34 6.1 CH22AC024 32 36 4 33.6 71 69 32.5 0.83 0.37 4.9 CH22AC024 36 38 2 32 65 70.2 31 0.56 0.45 2.9 CH22AC025 20 24 4 40.4 74 55.2 33 1.59 0.22 3.4 CH22AC025 24 27 3 26.9 66 47.8 30.5 3 0.18 2 CH22AC026 9 13 4 49.4 94 83.7 37.7 0.52 0.15 3.6 CH22AC026 13 18 5 51.4 94 79.9 38.1 0.26 0.17 7.9 CH22AC026 18 21 3 36 81 82.9 35.3 0.42 0.24 5.2 CH22AC027 11 16 5 56.2 95 85.1 38 0.63 0.12 2.7 CH22AC027 16 18 2 51.2 93 85.3 37.7 0.5 0.13 0 Andromeda Metals Limited | 12 Hole ID From (m) To (m) Interval (m) <45µm (%) Kaolinite + Halloysite ISO B (%) Al2O3 (%) Fe2O3 (%) TiO2 (%) (%) Rheology (RI) CH22AC027 18 20 2 39.4 82 85.3 35.3 0.56 0.17 0.1 CH22AC027 20 22 2 31.3 79 83.6 34.5 0.61 0.22 3.1 CH23AC003 10 12 2 50.8 88 74.55 35.3 1.05 0.21 0.2 CH23AC003 12 13 1 53.4 91 75.45 36.4 0.94 0.18 2 CH23AC003 13 18 5 56.8 94 83.98 37.6 0.71 0.16 7.8 CH23AC003 18 22 4 54.4 94 82.68 37.8 0.69 0.19 9.4 CH23AC003 22 24 2 57.9 95 77.02 38.1 0.58 0.14 7.3 CH23AC003 24 26 2 53.3 87 75.96 36.6 0.37 0.21 5.2 CH23AC003 26 28 2 58.6 94 70.57 38.5 0.51 0.18 6.6 CH23AC003 28 30 2 34.9 79 63.81 34.4 1.38 0.3 2.7 CH23AC006 20 22 2 49 85 70.05 34.5 1.24 0.4 1.9 CH23AC006 22 24 2 49.2 85 82.22 35.9 0.47 0.2 5.8 CH23AC006 24 26 2 36 78 77.55 34.3 0.73 0.22 4.4 CH23AC006 26 28 2 32.4 68 72.2 31.7 1 0.29 1.7 CH23AC006 28 30 2 29.1 63 69.91 30 1.14 0.32 0.2 CH23AC007 13 15 2 56.1 92 78.14 37 0.89 0.17 3.8 CH23AC007 15 18 3 51.7 93 74.64 37.5 0.49 0.15 5.1 CH23AC007 18 23 5 40.1 80 65.87 34.9 0.55 0.18 1.4 CH23AC007 23 28 5 28.7 61 69.74 30 0.73 0.33 1.1 CH23AC007 28 30 2 23.7 61 67.7 29.4 1.01 0.34 0.5 CH23AC007 30 32 2 19.7 57 67.58 28.1 0.96 0.36 0 CH23AC008 9 12 3 58 94 85.98 37.7 0.74 0.14 8.9 CH23AC008 12 15 3 50.1 93 82.74 37.3 0.92 0.19 13.6 CH23AC008 15 18 3 60.5 95 62.9 37.9 0.74 0.16 2.8 CH23AC008 18 19 1 55.6 95 66.46 38.1 0.41 0.16 3.3 CH23AC008 19 23 4 45.2 86 82.64 36.5 0.5 0.14 4.5 CH23AC009 5 6 1 37.7 76 59.4 30.5 1.59 0.25 0 CH23AC009 6 10 4 49.7 91 79.27 36.5 0.79 0.19 1.2 CH23AC010 10 12 2 57.2 93 82.49 37.1 0.49 0.19 6.9 CH23AC010 12 14 2 49.3 84 81.42 35.7 0.64 0.11 6.8 CH23AC010 14 18 4 34.5 73 78.73 33.3 0.72 0.16 4.6 CH23AC011 18 20 2 52.8 91 73.92 36.5 1.13 0.47 6.2 CH23AC011 20 22 2 46.7 80 72.33 34.8 1.05 0.21 3.7 CH23AC011 22 24 2 33.8 74 62.7 33.1 1.73 0.16 2.3 CH23AC011 24 27 3 25.8 70 70.19 32.1 0.92 0.2 1.2 CH23AC011 27 29 2 31.5 67 70.13 30.6 1.65 0.29 1 CH23AC011 29 30 1 27.2 41 57.61 21.7 1.42 0.16 0 CH23AC012 21 22 1 53.2 93 63.92 37.4 0.73 0.31 4.2 CH23AC012 22 27 5 49.7 87 54.5 35.1 2 0.96 4.6 CH23AC012 27 31 4 50.3 91 59.55 37.1 0.89 0.2 0 CH23AC012 31 35 4 46.6 91 46 36.9 0.79 0.15 0 CH23AC012 35 40 5 38.1 84 48.12 35.4 0.99 0.19 9.4 CH23AC013 21 24 3 55.7 90 75.51 36 1 0.31 1.5 CH23AC013 24 29 5 38.2 70 58.51