Criteria

JORC Code explanation

Commentary

Sampling techniques

• Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.

• Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.

• Aspects of the determination of mineralisation that are Material to the Public Report.

• In cases where 'industry standard' work has been done this would be relatively simple (eg 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.

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

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Calcrete samples were collected on a pre- planned grid pattern of varying dimensions depending upon target. The grids were oriented on an east-west/north-south direction. Occasional grab samples were obtained where calcrete outcrops were noted.

Calcrete samples were obtained from varying depths ranging from surface to 110cm the maximum achievable depth using a hand held mechanical auger. Samples were sieved and only good quality calcrete (nodular or massive) was taken for geochemical analysis. Samples obtained were ~1kg in weight.

Samples are annotated with descriptions including, location, type of calcrete, depth, level of HCl reaction, terrain, rock outcrop occurrence and any notes relating to potential contamination.

Drilling techniques

• Drill type (eg core, reverse circulation, open- hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face- sampling bit or other type, whether core is oriented and if so, by what method, etc).

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Hand held mechanical auger was used to obtain calcrete samples. The auger blade is 20cm in diameter with a maximum reach of 110cm when utilizing an extension rod.

Drill sample

• Method of recording and assessing core and chip sample recoveries and results assessed.

• Measures taken to maximise sample recovery and ensure representative nature of the samples.

• Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.



Samples were taken by hand and sieved so

recovery

that a good quality calcrete only sample

obtained for geochemical analysis.



Samples averaging 1kg in weight were taken,

which are considered to be representative for

this sampling medium (calcrete).

Logging

• Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.

• Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.

• The total length and percentage of the relevant intersections logged.

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Recorded data at each sample point included sample number, GDA94 Zone 53 Co- ordinates, calcrete type, sample depth, level of HCl reaction, terrain, rock outcrop or float occurrence and any notes relating to potential contamination eg near roads.

Criteria

JORC Code explanation

Commentary

Sub- sampling techniques and sample preparation

• If core, whether cut or sawn and whether quarter, half or all core taken.

• If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.

• For all sample types, the nature, quality and appropriateness of the sample preparation technique.

• Quality control procedures adopted for all sub- sampling stages to maximise representivity of samples.

• Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.

• Whether sample sizes are appropriate to the grain size of the material being sampled.

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No sub sampling was undertaken during the calcrete sampling program.

Quality of assay data and laboratory tests

• The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.

• For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.

• Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.

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A certified and accredited global laboratory (Intertek Genalysis) was used for all assays. Samples from Widgety, were subject to analysis by FA25/MS; 25gram lead collection fire assay in new pots. Analysed by Inductively Coupled Plasma Mass Spectrometry.

Internal certified laboratory QA/QC is undertaken by Intertek Genalysis.

No additional standards, blanks or field duplicates were considered necessary for this calcrete sampling program.

Verification

• The verification of significant intersections by either independent or alternative company personnel.

• The use of twinned holes.

• Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.

• Discuss any adjustment to assay data.



Field data is captured on field sheets and

of sampling

transferred to digital medium at the end of

and

each day. All data is managed in-house by

assaying

Marmota Energy.



Laboratory assay data is not adjusted.

Location of data points

• Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.

• Specification of the grid system used.

• Quality and adequacy of topographic control.

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All samples are located using hand held GPS with an accuracy generally within +/- 5m. All coordinates are recorded in GDA94, Zone 53.

Data

• Data spacing for reporting of Exploration Results.

• Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.

• Whether sample compositing has been applied.



Samples were collected at 50m x 50m grid

spacing and

spacing which is considered to be

distribution

appropriate spacing for progressing the

target to the next stage of exploration.



Calcrete sampling only - no association or

reliance should be made on level of

mineralisation



Samples were not composited.

Orientation

• Whether the orientation of sampling achieves



The calcrete sampling when undertaken on a

of data in

unbiased sampling of possible structures and

close spaced grid (ie Widgety 50m x 50m)

relation to

the extent to which this is known, considering

highlights trends in gold mineralisation,

geological

the deposit type.

assumed to be structure related.

Criteria

JORC Code explanation

Commentary

structure

• 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.

• It is not considered that the sampling method (grid calcrete sampling) should introduce a sampling bias.

Sample security

• The measures taken to ensure sample security.

• Each sample was put into individually numbered calico bags which were tied and placed into cable tied polyweave bags.

• Samples remained at the remote field camps with Marmota staff until Marmota staff returned to Adelaide and the samples dropped off at the Intertek Genalysis Laboratory in Wingfield, Adelaide.

Audits or reviews

• The results of any audits or reviews of sampling techniques and data.

• No audits or reviews have been undertaken.

Criteria

JORC Code explanation

Commentary

Mineral tenement and land tenure status

• Type, reference name/number, location and  Muckanippie (EL5195) is 100% owned by

• The security of the tenure held at the time of environmental issues.

ownership including agreements or material Marmota Energy Limited.

issues with third parties such as joint ventures,  The project is located in the Gawler Craton of

partnerships, overriding royalties, native title South Australia.

interests, historical sites, wilderness or national  There are no third party agreements, no

park and environmental settings. government royalties, historical sites or

reporting along with any known impediments to  Underlying land title is Crown Lease.

obtaining a licence to operate in the area.  EL 5195 is in good standing.

Exploration

• Acknowledgment and appraisal of exploration

• Marmota has reviewed past exploration data

done by

by other parties.

over the region. The region in which EL 5195

other

is located has been the subject of mineral

parties

exploration in the past by various companies

including Normandy.

Geology

• Deposit type, geological setting and style of mineralisation.

• Style of mineralisation in the region is considered to be Challenger style gold mineralisation.

Drill hole Information

• A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:

  • easting and northing of the drill hole collar

  • elevation or RL (Reduced Level - elevation above sea level in metres) of the drill hole collar

  • dip and azimuth of the hole

  • down hole 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.

• N/A, no drilling conducted.

Data aggregation methods

• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material

• N/A, no drilling conducted.

Criteria

JORC Code explanation

Commentary

and should be stated.

• 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.

• The assumptions used for any reporting of metal equivalent values should be clearly stated.

Relationship  These relationships are particularly important between in the reporting of Exploration Results. mineralisati  If the geometry of the mineralisation with

on widths respect to the drill hole angle is known, its

and nature should be reported.

intercept  If it is not known and only the down hole

lengths lengths are reported, there should be a clear

statement to this effect (eg 'down hole length, true width not known').

• N/A, no drilling conducted.

Diagrams

• Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.

• See figures in release attached.

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.

• Geochemical data was gridded and contoured.

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.

• See attached release.

Further work

• The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling).

• Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.

• See attached release.