Auroch Minerals : GROUND IP SURVEY UNDERWAY AT NEPEAN

Published: 2021-11-16 17:47:18 ET AOU.AX

For personal use only

ASX ANNOUNCEMENT

17th November 2021

GROUND IP SURVEY UNDERWAY AT NEPEAN

Highlights

Auroch Minerals Limited (ASX:AOU) (Auroch or the Company) is pleased to announce it has commenced a ground dipole-dipole IP geophysical survey at the Nepean Nickel Project in Western Australia (Auroch Minerals 80%).

The ground IP survey will cover approximately 5.1km2 over the five northern tenements of the Nepean Project (Figure 1, Table 1) after results from a detailed review of drill-hole geochemistry highlighted the prospectivity of the ultramafic sequences in this area for nickel sulphide mineralisation.

The ultramafics in this area have high nickel to chrome (Ni:Cr) ratios indicating lava pathways, elevated Ni:MgO ratios and platinum group elements (PGEs) which indicate potential mineralised systems and proximity to primary sulphide mineralisation, and elevated Kambalda ratios (Ni/Cr x Cu/Zn), all of which highlight the potential of these ultramafic units to host significant nickel sulphide mineralisation.

Furthermore, the northern area of the Nepean Project is located directly along strike from the historic Nepean nickel mine to the south and the Miriam nickel sulphide deposit to the north, and yet remains very underexplored with minimal historic drilling.

Recent petrophysical testing of drill core samples of high-grade matrix and disseminated nickel sulphide mineralisation from close to the historic Nepean nickel mine showed that such mineralisation provides a good IP response that would be identifiable by an IP survey. In fact, it was the early use of IP surveys that led to the discovery of the Nepean nickel sulphide deposit by Metals Exploration NL in 19681, further validating IP as an excellent method for nickel sulphide exploration in the Nepean area.

Auroch Managing Director Aidan Platel commented:

"We are excited to commence a ground IP survey over the northern area of the Nepean Project. Our recent geochemical review of the few drill-holes in this area has shown the ultramafic units there are highly prospective for nickel sulphide mineralisation, whilst petrophysical test work we completed on drill-holes close to the historic Nepean nickel mine has demonstrated that IP is an excellent method to find high-grade matrix to disseminated nickel sulphide mineralisation.

At Nepean Deeps, the navigational drilling of NPDD013 has successfully put the hole back on the correct orientation, and we eagerly await to see what the hole intersects when it reaches the 1A/1B DHEM target next week!"

The IP survey is being conducted over nineteen east-west lines with a line spacing of 200m and a station spacing of 100m. The data will be reviewed on a line by line basis and infill lines will be added

1 Burt, David. June 2015. "A Personal Account of some Orebody Discoveries 1966 - 2007"

Auroch Minerals Ltd ABN 91 148 966 545

Suite 10, 38 Colin St, West Perth WA 6005 Phone: +61 8 6383 7817 Fax: +61 8 6245 9853

Email: [email protected] www.aurochminerals.com

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ASX ANNOUNCEMENT

17th November 2021

if deemed necessary to better define any potential anomalies. The survey is being conducted by Vortex Geophysics Pty Ltd and is estimated to take three weeks.

Nepean Deeps Drill Programme

The second drill-hole in the Nepean Deeps programme, NPDD013, is currently at a depth of approximately 450m down-hole. NPDD013 was designed to test the down-hole electromagnetic (DHEM) conductor 1A/1B at approximately 550m, and is on schedule to reach target depth next week.

The 1A/1B plates are the uppermost of three high-priority DHEM targets identified by the first Nepean Deeps drill-hole, and are located west of, and adjacent to, the historic Nepean nickel mine workings making it a compelling target for nickel sulphide mineralisation.

Figure 1 - Map showing location and survey lines of the ground IP survey underway in the north of the

Nepean Project

Auroch Minerals Ltd ABN 91 148 966 545

Suite 10, 38 Colin St, West Perth WA 6005 Phone: +61 8 6383 7817 Fax: +61 8 6245 9853

Email: [email protected] www.aurochminerals.com

For personal use only

ASX ANNOUNCEMENT

17th November 2021

This announcement has been authorised by the Board of Directors of the Company.

-END-

For further information visit www.aurochminerals.comor contact:

Aidan Platel

Managing Director

E: [email protected]

Competent Persons Statement

The information in this report that relates to Exploration Results is based on information compiled by Mr Matthew McCarthy and represents an accurate representation of the available data. Mr McCarthy (Member of the Australian Institute of Mining and Metallurgy) is the Company's Senior Geological Officer and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken 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' ("JORC Code 2012"). Mr McCarthy consents to the disclosure of this information in this report in the form and context in which it appears.

Forward-Looking Statements

This document may include forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning Auroch Minerals Limited's planned exploration program and other statements that are not historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may", "potential", "should," and similar expressions are forward-looking statements. Although Auroch Minerals Limited believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements.

Table 1 - Ground IP survey parameters

Survey Line

From (GDA94_51 East)

From (GDA94_51 North)

Distance

Survey

Sites

60300

316650

317750

1100

60100

316600

318200

1600

59900

316600

318200

1600

59700

316550

318150

1600

59500

316500

318100

1600

59300

316450

318050

1600

59100

316400

318000

1600

58900

316350

318050

1700

58700

316350

318350

2000

58500

316300

318300

2000

58300

317350

318250

900

58100

317350

318150

800

57900

317400

318100

700

57700

317400

318000

600

57500

316450

317950

1500

57300

316450

317850

1400

57100

316450

317750

1300

56900

316450

317750

1300

56700

316450

317350

900

Auroch Minerals Ltd ABN 91 148 966 545

Suite 10, 38 Colin St, West Perth WA 6005 Phone: +61 8 6383 7817 Fax: +61 8 6245 9853

Email: [email protected] www.aurochminerals.com

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ASX ANNOUNCEMENT

17th November 2021

JORC Code, 2012 Edition, Table 1 (Nepean)

Section 1: Sampling Techniques and Data

CRITERIA

EXPLANATION

COMMENTARY

Sampling

● Nature and quality of sampling (eg cut

Drilling

channels, random chips, or specific

Auroch Minerals Limited:

techniques

specialised industry standard

● Nickel mineralisation at Nepean has been

measurement tools appropriate to the

sampled from the following drilling

minerals under investigation, such as down

techniques:

hole gamma sondes, or handheld XRF

● Diamond Core - half core samples with a

instruments, etc). These examples should

maximum of 1.2m and minimum 0.2m

not be taken as limiting the broad meaning

length.

of sampling.

● RC drilling - 1m samples of pulverised

● Include reference to measures taken to

chips, approximately 3kg's is collected in

ensure sample representivity and the

individual calico bags

appropriate calibration of any

● Air Core drilling creates single metre

measurement tools or systems used.

sample of drill chips, however samples are

● Aspects of the determination of

composited every 3 metres, with the end

mineralisation that are Material to the

of hole sample consisting of a 1m sample.

Public Report. In cases where 'industry

standard' work has been done this would

Historic:

be relatively simple (eg 'reverse circulation

● Nickel mineralisation at Nepean has been

drilling was used to obtain 1m samples

sampled from Reverse Circulation (RC) 1m

from which 3kg was pulverised to produce

chip samples & Diamond core samples.

a 30g charge for fire assay'). In other cases

more explanation may be required, such as

Air Magnetic Survey:

where there is coarse gold that has

Contractor: UTS

inherent sampling problems. Unusual

Client: St Francis Mining Ltd

commodities or mineralisation types (eg

Year: 1996

submarine nodules) may warrant

Aircraft: Fletcher

disclosure of detailed information.

Instrumentation: Caesium Vapour

Sample Interval: ~5m

Flight Line Spacing: 50 and 100m

Flight Line Direction: 068o-248o,158o-338o,

090o-270o

Tie Line Spacing: 500m and 1000m

Mean Terrain Clearance: 25m

Navigation: Differential GPS

IP Parameters

Contractor: Vortex Geophysics

Receiver: 1-2x GDD 16 channel IP Receiver

Transmitter: Vortex VIP-30 transmitter system

rated at 1500V, 30A and 15KVA

Configuration: Dipole-Dipole

Line Spacing: 200m

Dipole spacing: 100m

Domain/Cycle: Time domain - 2 seconds or

0.125Hz

DHEM Parameters:

Contractor:

SGC Niche Acquisition

Configuration:

Down-hole EM (DHEM)

Tx Loop size:

300x300m to 350x450m,

single turn

Transmitter:

TTX2

Receiver:

Smartem24

Auroch Minerals Ltd ABN 91 148 966 545

Suite 10, 38 Colin St, West Perth WA 6005 Phone: +61 8 6383 7817 Fax: +61 8 6245 9853

Email: [email protected] www.aurochminerals.com

For personal use only

ASX ANNOUNCEMENT

17th November 2021

CRITERIA

EXPLANATION

COMMENTARY

Sensor:

DigiAtlantis

Station spacing:

2m to 10 m

Tx Freq:

0.5 Hz

Duty cycle:

50%

Current:

~68-75 Amp

Stacks:

Readings:

2-3 repeatable readings

per station

•

A Moving Loop Transient Electromagnetic

(MLTEM) ground survey was completed at

the Nepean extended mine

corridor/sequence. The MLTEM survey

commenced late April 2021 and was

completed late June 2021.

MLTEM configuration:

•

NORDICem24 receiver

•

CSIRO LANDTEM HT SQUID B-field sensor

•

ORE_HPTX transmitter

•

Loop size - 200x200m

•

200m line spacing

•

100m station spacing

•

Sensor offset - slingram, 200m east of loop

centre

•

0.5Hz base frequency

•

200A current

•

~1msec ramp time

•

Multiple readings at 64 stacks

MLTEM surveys are an industry standard

practice for definition of bedrock conductors

representing potential mineralised massive

sulphide bodies.

Source: 22,500lb Vibroseis Vehicle

Line Length: ~6km

Total Number of Channels: 1211x2 (2422)

Active Receiver Spread (min): 600

Full Receiver Spread (max): 1200

Receiver Spacing: 5m

Receiver X-line Spacing: 30m

Total Number of Source Points: 1209

Source Point Spacing: 5m

Source Skid (distance from each line): 15m

Nominal Fold: 300

Max Offset: +/- 1500m

Drilling techniques

● Drill type (eg core, reverse circulation,

Auroch Minerals Limited:

open-hole hammer, rotary air blast, auger,

•

Diamond Core (DD) drilling results have

Bangka, sonic, etc) and details (eg core

been referenced in this report. Core is

diameter, triple or standard tube, depth of

oriented and retrieved via double or triple

diamond tails, face- sampling bit or other

tube methods.

type, whether core is oriented and if so, by

Historic:

what method, etc).

●

The project has been held by various

companies since the 1960's, with numerous

Auroch Minerals Ltd ABN 91 148 966 545

Suite 10, 38 Colin St, West Perth WA 6005 Phone: +61 8 6383 7817 Fax: +61 8 6245 9853

Email: [email protected] www.aurochminerals.com

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Auroch Minerals Ltd. published this content on 16 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 November 2021 22:46:07 UTC.