IRW-News: Altona Mining Ltd.: Altona Mining Ltd.: Bedeutende Bohrziele auf Roseby South identifiziert

IRW-PRESS: Altona Mining Ltd.: Altona Mining Ltd.: Bedeutende Bohrziele auf Roseby South identifiziert

BEDEUTENDE BOHRZIELE AUF ROSEBY SOUTH IDENTIFIZIERT

- Zwei neue große sehr reichhaltige Kupferanomalien im Boden mit anomalen Gehalten von bis zu 4,6 % Kupfer auf Harvest und 5,6 % Kupfer auf Hobby.

- Beide Anomalien sind mit den Ergebnissen aus Altonas Lagerstätte Little Eva vergleichbar.

- Gesteinssplitterproben mit bis zu 14,4 % Kupfer und 0,74 g/t Gold auf Harvest und 23,3 % Kupfer und 2,9 g/t Gold auf Hobby.

- Das beste Ergebnis der wenigen in den 1990er-Jahren auf Harvest niedergebrachten Bohrungen war 74 m mit 0,52 % Kupfer und 0,11 g/t Gold.

- Die Bohrungen werden in den kommenden Monaten beginnen.

Altona Mining Limited (Altona oder das Unternehmen - http://www.commodity-tv.net/c/search_adv/?v=296468) gibt bekannt, dass das Unternehmen zwei neue große und sehr reichhaltige Kupferanomalien im Boden auf seinem sich vollständig in Unternehmensbesitz befindlichen Projekt Roseby South (Roseby South) in der Nähe des Mt Isa in Queensland abgegrenzt hat.

Roseby South liegt unmittelbar an der Südgrenze des Projekts Cloncurry des Unternehmens und MMGs großer Untertagezinkmine auf Dugald River (Abbildung 5).

Das Projekt Cloncurry unterliegt einem geplanten Joint Venture im Wert von 235,5 Mio. USD (JV) mit Sichuan Railway Investment Group (SRIG). Nähere Informationen hinsichtlich des SRIG JV finden Sie in der Pressemitteilung vom 2. Juni 2016.

Roseby South ist eine sich zu 100 % im Besitz der Altona befindliche Explorationsliegenschaft. Sie ist nicht Teil der Vereinbarungen mit SRIG. Das Projekt Roseby South besitzt zwei gewährte Explorationsgenehmigungen (Exploration Permits for Minerals, EPM), die eine Fläche von ungefähr 476 km2 abdecken (Abbildung 3).

Die Explorationstätigkeiten auf Roseby South sind der Beginn einer von Altona durchgeführten Kampagne zur Erweiterung ihrer Explorationsaktivitäten im stratigrafischen Fenster des Mt Isa. Mit dieser Verlagerung hin zu weiteren Explorationstätigkeiten, wurde eine Neubewertung von Roseby South durchgeführt nach seiner Rückgabe an Altonas Management im Jahr 2015 nach Ablauf einer Option auf das Projekt. Die Geländeprogramme begannen im April 2016 und zielten auf vererzte Korridore, die sich über die Länge der Liegenschaft des Unternehmens erstrecken. Die Geländearbeiten konzentrierten sich auf sehr genaue Bodenprobenentnahmen, Prospektionsarbeiten und geologische Kartierungen.

Die Anomalien Harvest und Hobby (Abbildungen 1, 2, 3 und 4) sind unter den zahlreichen Erkundungsgebieten, die sich in einer frühen Abgrenzungsphase befinden, die am besten definierten Ziele.

Für Harvest und Hobby wird ein RC-Bohrprogramm geplant und in Abhängigkeit des Explorationsfortschritts wird Altona ebenfalls ein oder zwei andere Erkundungsgebiete, die zurzeit bewertet werden, durch Bohrungen überprüfen. Verschiedene Abkommen mit dritten Parteien und sogenannte Aboriginal Heritage Clearances sind vor dem Bohrbeginn notwendig. Dies wird laut Erwartungen 2 bis 3 Monate in Anspruch nehmen. Eine Abbildung der Bodenanomalie auf der Lagerstätte Little Eva (Abbildung 4) wird ebenfalls zur Verfügung gestellt, um den Zusammenhang mit den Zielgebieten und der regionalen Analogie zu zeigen.

Altona wird den Markt über den Bohrbeginn informieren.

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Abbildung 1: Erkundungsgebiet Harvest - Abbildung der Kupferanomalie im Boden und Entnahmestellen der Gesteinssplitterproben.

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Abbildung 2: Erkundungsgebiet Hobby - Abbildung der Kupferanomalie im Boden und Entnahmestellen der Gesteinssplitterproben.

Die Ziele Harvest und Hobby zeichnen sich aus durch:

Bodenanomalien

Große und zusammenhängende Kupferanomalien im Boden mit ähnlichem Umfang und Gehalt (+1000 ppm Kupfer) wie die Kupferanomalie auf der Lagerstätte Little Eva des Projekts Cloncurry (546.000 Tonnen enthaltenes Kupfer und 295.000 Unzen Gold, Anhang 4). Die Spitzenkupfergehalte innerhalb der Anomalien liegen auf Hobby bei 5,6 % und auf Harvest bei 4,6 %. Ein betriebsinternes Verfahren, das eine schnelle und billige Analyse mittels handgeführter XRF verwendet, war der Schlüssel zur Abgrenzung dieser Anomalien durch in sehr engen Abständen entnommener Proben (Abbildungen 1, 2 und 4).

Anomalien in Gesteinssplitterproben

Anomale und oft hochgradige Kupfer- und Goldgehalte in Gesteinssplitterproben aus Aufschlüssen und Lesesteinen sowohl oxidiert als auch frisch. Es wurden zum Beispiel Spitzenwerte von 14,4 % Kupfer und 0,74 g/t Gold auf Harvest und 23,3 % Kupfer und 2,9 g/t Gold auf Hobby gefunden. Die Analyse der Gesteinssplitter erfolgte durch herkömmliche Vefahren (Anhang 3).

Hochgradige Bohrergebnisse

Auf Hobby wurden keine Bohrungen niedergebracht.

Auf Harvest zeigen die wenigen in den 1970er-Jahren (Tabellen 2 und 3) niedergebrachten Bohrungen das Potenzial für eine wirtschaftliche Kupfer-Gold-Vererzung. Zum Beispiel lieferte die von Placer im Jahre 1992 (Abbildung 1) niedergebrachte Bohrung:

74 m mit 0,51 % Kupfer und 0,11 g/tGold ab Oberfläche:

Einschließlich 8 m mit 1,65 % Kupfer und 0,18 g/t Gold und

--12 m mit 0,77 % Kupfer und 0,23 g/t Gold

Günstige Gesteine

Auf Harvest und Hobby haben die geologischen Kartierungen Gesteinstypen, Alterations- und Elementvergesellschaftungen dokumentiert, die mit signifikanten IOCG-Lagerstätten in der Region übereinstimmen.

Große Strukturen

Die Ziele liegen innerhalb zwei großer tektonischer Korridore, die das stratigrafische Fenster Mt Isa durchschneiden und ebenfalls die Lagerstätten innerhalb des möglichen SRIG Joint-Venture beherbergen und Ressourcen mit 1,6 Mio. Tonnen Kupfer sowie 0,4 Mio. Unzen Gold enthalten (Anhang 4).

Historische Abbauspuren

Auf beiden Zielen wurden zahlreiche historische Abbauspuren identifiziert von übertägigen Schürfgräben aus den 1970er-Jahren bis zu Schächten und Tagebaugruben aus den 1920er-Jahren bis zu den 1940er-Jahren.

Geophysik

Während die Harvest-Anomalie die typischen magnetischen Charakteristika vieler IOCG-Lagerstätten in der Region aufweist, so liefert das neue Ziel auf Hobby keine zugehörigen magnetischen Signale in den regionalen Daten und wurde als Folge in der Vergangenheit übersehen. Die in der Alterationszone auf Hobby beobachteten Eisenoxidminerale sind überwiegend von Hämatit.

Eine detailliertere Beschreibung von Roseby South und jedes der Ziele finden Sie im Anhang (Anhang 2) zusammen mit der JORC Code Tabelle 1 (Anhang 3) zur Offenlegung der Explorationsmethodik. Obwohl die Ziele attraktiv sind, so ist der Gehalt der Oberflächenanomalien kein verlässlicher Richtwert für die Art irgendeiner möglicherweise zugrunde liegender Vererzung.

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Abbildung 3: Projekt Roseby South über Abbildung der Magnetik gelegt, welche die Lagerstätten, Zielgebiete und Explorationsgebiete der Geländesaison 2016 zeigt.

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Abbildung 4: ein Vergleich der Kupferanomalien im Boden auf Harvest und Hobby mit der Lagerstätte Little Eva. Anmerkung, Abbildungen in gleichem Maßstab und gleichen Farbtönen.

Für Fragen wenden Sie sich bitte an:

Alistair Cowden

Managing Director

Altona Mining Limited

Tel: +61 8 9485 2929

altona@altonamining.com

David Tasker

Professional Public Relations

Perth

Tel: +61 8 9388 0944

David.Tasker@ppr.com.au

Jochen Staiger

Swiss Resource Capital AG

Tel: +41 71 354 8501

js@resource-capital.ch

Über Altona

Altona Mining Limited ist ein an der ASX notiertes Unternehmen, das sich auf das Projekt Cloncurry in Queensland, Australien, konzentriert. Das Projekt beherbergt Mineralressourcen, die ungefähr 1,65 Mio. Tonnen Kupfer und 0,41 Mio. Unzen Gold enthalten. Die erste vorgesehene Entwicklung ist die Kupfer-Gold-Tagebaumine Little Eva und Aufbereitungsanlage mit einer Kapazität von 7 Mio. Tonnen pro Jahr. Altona hat eine Rahmenvereinbarung mit Sichuan Railway Investment Group zur vollständigen Finanzierung und Entwicklung von Little Eva geschlossen. Little Eva ist genehmigt mit einer geplanten Jahresproduktion1 von 38.800 t Kupfer und 17.200 Unzen Gold über mindestens 11 Jahre. Eine endgültige Machbarkeitsstudie wurde im März 2014 veröffentlicht.

1Bitte beziehen Sie sich auf die ASX-Pressemitteilung Cost Review Delivers Major Upgrade to Little Eva vom 13. März 2014, die die Information bezüglich dieses Produktionsziels und die prognostizierte Finanzinformation, die auf diesem Produktionsziel basiert, zusammenfasst. Das Unternehmen bestätigt, dass alle wesentlichen Annahmen, die das Produktionsziel unterstützen und die auf diesem Produktionsziel basierenden Finanzprognosen, die in der oben genannten Pressemitteilung erwähnt werden, weiterhin gültig sind und sich nicht wesentlich geändert haben.

Aussage der kompetenten Person

Die Informationen in dieser ASX-Pressemitteilung, die sich auf Explorationsziele, Explorationsergebnisse, Mineralressourcen oder Erzvorräte beziehen, basieren auf Informationen, die von Herrn Roland Bartsch, B Sc (Hons), Msc, MAusIMM und Herrn George Ross, Msc, MAIG zusammengestellt wurden. Herr Bartsch und Herr Ross sind Vollzeit-Mitarbeiter des Unternehmens und verfügen über ausreichendes Wissen und Erfahrung über diesen hier vorliegenden Vererzungs- und Lagerstättentyp. Ihre Tätigkeiten qualifizieren sie als kompetente Personen gemäß den Regeln des 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Herr Bartsch und Herr Ross stimmen den hier eingefügten Informationen, die auf ihren Informationen basieren, in Form und Kontext je nach Erscheinen zu.

Kupfer-Äquivalent

Bei Anwendung bezieht sich der Kupfer-Äquivalent auf Kupfer im produzierten Konzentrat oder im Konzentrat einer geplanten Produktion. Es bezieht sich nicht auf den Metallgehalt der Insitu Ressourcen, Vorräte oder Bohrergebnisse. Der Kupfer-Äquivalentgehalt wird für den entsprechenden Vorrat unter Berücksichtigung des Kupfergehalts aus allen Metallen (NSR) d. h. Kupfer, Zink, Gold und Silber berechnet.

Die Ausgangssprache (in der Regel Englisch), in der der Originaltext veröffentlicht wird, ist die offizielle, autorisierte und rechtsgültige Version. Diese Übersetzung wird zur besseren Verständigung mitgeliefert. Die deutschsprachige Fassung kann gekürzt oder zusammengefasst sein. Es wird keine Verantwortung oder Haftung: für den Inhalt, für die Richtigkeit, der Angemessenheit oder der Genauigkeit dieser Übersetzung übernommen. Aus Sicht des Übersetzers stellt die Meldung keine Kauf- oder Verkaufsempfehlung dar! Bitte beachten Sie die englische Originalmeldung auf www.sedar.com, www.sec.gov, www.asx.com.au/ oder auf der Firmenwebsite!

APPENDIX 1: ROCKCHIPS AND HISTORIC DRILLING

Table 1: Rockchip sample summary: Altona (AL or U prefix) and prior explorers

Sample ID Location (MGA54) Analyses

Easting Northing Copper Gold

(m) (m) % g/t

Harvest

AL0016691 398503.2 7719034 14.35 0.37

AL0016682 398506.8 7719005 6.95 0.19

AL0016687 398487.5 7719031 6.10 0.03

AL0016704 398503.7 7719089 4.47 0.04

AL0016515 398647.1 7718419 3.19 <0.2

AL0016707 398510.7 7719099 2.98 0.02

AL0016693 398511 7719036 0.99 0.74

AL0016705 398506.2 7719092 0.95 0.08

AL0016685 398518.4 7719009 0.93 0.09

AL0016706 398508.5 7719095 0.80 0.04

AL0016701 398494.3 7719082 0.72 0.25

AL0016697 398493.8 7719130 0.70 0.04

AL0016688 398491.4 7719032 0.66 <0.01

AL0016517 398584 7718467 0.65 <0.2

AL0016703 398501.1 7719086 0.63 0.21

AL0016689 398495.3 7719032 0.59 0.19

AL0016698 398483.4 7719078 0.57 0.1

503905 398661.7 7718654 0.44 Untested

AL0016686 398522.2 7719010 0.42 0.08

30978 398567.2 7718991 0.37 <0.05

AL0016684 398514.5 7719007 0.36 0.2

AL0016679 398495.2 7719002 0.35 0.03

AL0016702 398498 7719083 0.35 0.14

AL0016694 398514.9 7719037 0.33 0.04

AL0016700 398490.7 7719080 0.31 0.18

AL0016514 398647.3 7718419 0.24 0.5

AL0016699 398487 7719079 0.22 0.44

AL0016690 398499.2 7719033 0.18 0.07

AL0016680 398499.1 7719003 0.16 0.19

AL0016677 398487.5 7719000 0.16 0.06

AL0016678 398491.4 7719001 0.12 0.15

AL0016692 398507.1 7719035 0.10 0.1

AL0016516 398584.4 7718466 0.09 <0.2

AL0016681 398502.9 7719004 0.06 0.13

AL0016245 398504.5 7719082 0.05 0.03

AL0016683 398510.6 7719006 0.04 0.38

AL0016577 398504.8 7719085 0.00 0.09

Hobby

AL0016575 413434.6 7725621 23.30 <0.01

AL0016246 413413.1 7725621 18.90 2.39

AL0016194 413409.9 7725628 17.70 0.7

AL0016598 413437.2 7725325 12.35 0.63

URB000321 413414.9 7725626 5.45 0.17

AL0016193 413297.8 7725731 4.72 0.4

URB000322 413410.7 7725621 3.88 2.91

URB000324 413335.4 7725863 2.94 0.14

URB000320 413333.8 7725621 1.58 0.13

AL0023005 413523.8 7725647 1.27 0.06

AL0023006 413582.8 7725558 0.73 0.02

AL0016586 413460.6 7725859 0.70 <0.01

AL0023001 413505.6 7725664 0.67 <0.01

AL0023009 413533.8 7725474 0.59 0.05

AL0023012 413466.9 7725536 0.55 0.02

AL0023015 413404.7 7725594 0.54 0.02

AL0023016 413391.6 7725650 0.50 0.02

AL0023013 413410.2 7725525 0.48 0.04

75213 413257.1 7725854 0.45 Untested

AL0023002 413515.8 7725792 0.43 0.01

AL0023014 413413.1 7725552 0.41 0.06

AL0023018 413363.9 7725654 0.41 0.02

AL0023011 413530.2 7725511 0.38 0.01

AL0023010 413514.6 7725562 0.37 <0.01

AL0016192 413295.5 7725731 0.36 <0.2

AL0016593 413491.6 7725473 0.35 0.1

AL0016594 413494.8 7725468 0.35 0.01

AL0016590 413419.3 7725920 0.33 0.01

AL0016596 413411.5 7725488 0.30 0.01

AL0023004 413541.4 7725684 0.30 0.01

AL0023003 413516 7725754 0.29 0.01

AL0016597 413462.6 7725325 0.28 0.02

AL0016591 413477.6 7725507 0.26 0.02

AL0016592 413482.4 7725500 0.26 0.02

75214 413285.6 7725857 0.25 Untested

75142 413307.7 7725992 0.24 Untested

AL0016589 413438.7 7725997 0.20 0.03

AL0023007 413592.7 7725484 0.19 <0.01

AL0023008 413639.1 7725382 0.19 <0.01

AL0016595 413524.8 7725382 0.18 0.01

75215 413318.4 7725854 0.17 Untested

75147 413359 7725985 0.17 Untested

AL0023017 413366.3 7725625 0.16 <0.01

AL0016587 413486.2 7725955 0.09 <0.01

AL0016588 413445 7725512 0.08 0.01

AL0016574 413566.7 7725541 0.03 <0.01

URB000323 413407.5 7725676 <0.01 0.02

Table 2: Significant RC drill intersection summary - Harvest anomaly

Hole ID Depth Drill Intercept >0.3% Cu

From To Width Copper Gold

(m) (m) (m) (%) (g/t)

TSP-1 14 28 14 0.49 0.17

40 48 8 0.31 0.08

TSP-2 0 74 74 0.51 0.11

inclu0 8 8 1.64 0.12

ding

54 66 12 0.77 0.23

TSP-3 12 24 12 0.37 0.15

56 62 6 0.34 0.10

TSP-4 18 24 6 0.36 0.09

94 102 8 0.81 0.37

Table 3: Drill hole summary table - Harvest anomaly

Type / Hole Location Orientation End of

Program ID (MGA54) Hole

EastingNorthiRL AzimutDip Depth

ng h

(m) (m) (m) (°) (°) (m)

RC TSP-1 398582 771847312 091 -60 78

1

(Placer TSP-2 398605 771859334 271 -60 88

1992) 4

TSP-3 398527 771897371 271 -60 104

5

TSP-4 398474 771911366 091 -60 110

4

Diamond DDH#1 398682 771847318 -28 263 106.68

(Australia 2

n

Copper

Mines

1971)

DDH#2 398638 771859331 -39 275 78.94

4

DDH#3 398449 771853301 -37 91 167.64

7

APPENDIX 2: Summary of the Roseby South Project

Roseby South covers an area of 476km2 (Figures 3) and is strategically located adjacent to a number of operating, former and proposed mines. The project comprises two granted Exploration Permits for Minerals (EPM).

The Project covers the extension of the stratigraphy that hosts Altonas 1.65 million tonne contained copper Cloncurry Copper Project and MMG Limiteds Dugald River mine containing 7.4 million tonnes of zinc, 1.14 million tonnes of lead and 64 million ounces of silver immediately to the north. Dugald River has recently commenced development and Altona recently announced a US$213.53 million Framework Agreement with SRIG which, if completed, will lead to the development of a major new copper mine at Little Eva within the Cloncurry Project.

These two major projects are situated within a regional scale north-south structural corridor which continues for 170 kilometres further south and through the Roseby South Project for 50 kilometres. Other deposits within this corridor include the Mt Colin copper-gold mine, the Mary Kathleen uranium mine, which closed in 1982, and the Mt Quamby gold mine which last operated in 1992. Some 120 kilometres further south on the same structure is the high grade Tick Hill gold mine which closed in 1995. A number of other well-known major mining operations such as the Ernest Henry and Rocklands copper-gold mines are located to the east of the Project.

Within the project area there are numerous copper-gold occurrences and artisanal mine workings including the Companion mine (Figure 3). The Companion mine was the focus of recent soil sampling, geophysics and drilling by Chinalco Yunnan Copper under an earn-in option with Altona, now expired. Companion is also located within the major structural corridor and locally associated with north-south and northwest-southeast trending fault zones. A large mineralised system has been identified (please refer to Altona ASX release dated 30 September 2015).

Exploration Strategy

On the return of the project to 100% Altona Management in 2015 a complete re-evaluation of the project was undertaken. Significant unexplored targets were recognised in the mineralised structural corridors that extend the length of the Project.

In April 2016 field programs commenced with the objective of testing the targets (Figure 3). At the core of the program is achieving consistent close-spaced soil sampling coverage across the target corridors. Since April some 4000 plus soil samples have been collected and analysed. A methodology has been developed by Altona using rapid and cheap analysis for copper via a portable hand held Niton XRF instrument. The analyses are rigorously validated with reference and umpire samples.

Two new large high-tenor copper-in-soil anomalies have been established to date, Harvest and Hobby (Figures 1, 2 and 3) and there are numerous other prospects at an earlier stage of definition.

Harvest Prospect

Harvest sits within the major north-south trending structural corridor that was previously described. The prospect coincides with a sharp relief ridge which extends for more than 2 kilometres north-south and exhibits discontinuous outcropping copper oxide mineralisation and geobotanical anomalism (copper bush) along the ridge.

Numerous small historic workings ranging from surface trenching in the 1970's to shafts and pits from the 1920-40's have been mapped. The prospect had been recognised by previous explorers with reconnaissance level work being conducted through to the mid 1990s. Past names for the prospect include The Summit and The Slots. The last significant work was conducted by Placer in 1992 who completed 4 shallow RC drill holes (Appendix 1, Tables 2 and 3).

Copper anomalism at Harvest is characterised by a 2 kilometre by 110 metre copper-in-soils anomaly (Figure 1 and 4) exceeding 1000ppm copper. Internal peaks within the anomaly range up to 45,917ppm (4.59%) copper and 17,442ppm (1.74%) copper. The anomaly is similar in tenor and area to the copper-in-soil anomaly at the Cloncurry Project's Little Eva deposit although reflects a longer and more linear target.

The copper anomalous ridge has steep sides with relief up to 90 metres. The ridge comprises steeply dipping quartzite mapped as the Ballarra quartzite. The copper mineralisation is structurally controlled within the quartzite and along the contacts of the quartzite with calc-silicate rock. Overall the mineralisation is interpreted to have a steep easterly dip.

Localised rockchip sampling across the anomaly has been undertaken, largely within pre-existing trenches. The sampling returned values up to 14.3% copper and up to 0.74g/t gold. A full list of rockchip results is provided in Appendix 1, Table 1.

Three diamond drill holes were drilled by Australian Copper Mines in 1971 into the southern portion of the main anomaly; no assay data is reported for these holes although graphic logs show mineralised copper intercepts consistent with subsequent nearby drill holes by Placer in 1992. Placer drilled 4 RC holes in the northern portion of the main anomaly; the holes drilled parts of the mapped copper anomaly and recorded copper and gold mineralisation over broad widths. The best intersection from the drilling was from drillhole TSP-2, Placer 1992 (Figure 1).

74 metres at 0.51% copper and 0.11g/t gold from surface:

including 8 metres at 1.65% copper and 0.18g/t gold, and---

- 12 metres at 0.77% copper and 0.23g/t gold

Full details of the drilling are summarised in Appendix 1, Tables 2 and 3.

Hobby Prospect

Hobby sits near the intersection of two regional scale structures being the north-south structure which hosts the Companion copper-gold prospect and the Cloncurry Project copper+/-gold deposits and the north-east trending structure which hosts the Ivy Ann copper-gold deposit.

Hobby had been missed by previous exploration having a different visual surface expression to typical copper anomalies of similar tenor in the region.

At Hobby a large and coherent copper-in-soil anomaly greater than 1,000ppm has been defined (Figure 2). The extent of the greater than 1,000ppm core of the anomaly is 680 by 230 metres. Internal peaks within the anomaly range up to 6,398ppm (0.64%) copper and 56,125ppm (5.61%) copper with the highest results close to historic workings. The anomaly is of similar size and tenor to the copper-in-soil anomaly at the Cloncurry Project's Little Eva deposit.

The anomaly occurs within a range of hills with relief up to 120 metres. The anomaly trends north-west cutting across steeply dipping north-south striking calc-silicate metasedimentary rocks dominated by pink feldspar and amphibole that form the ridges.

Two small historical surface workings on narrow high-grade copper structures some 0.2 to 1 metres wide are located in the middle of the anomaly. Two other small gossanous outcrops with abundant copper oxide have been mapped. Overall the copper mineralisation has a subtle surface expression being finely disseminated within the rocks. Rockchip samples of the gossanous structures returned values from 1.6 to 23.3% copper and 0.13 to 2.9g/t gold; while 90% of the surrounding rocks returned values greater than 0.1% copper up to 0.7% copper. A full list of available rockchip results is provided in Appendix 1, Table 1.

No drilling has been undertaken at the prospect to date.

http://www.irw-press.at/prcom/images/messages/2016/36432/01082106_DE_AOH0777_Major Drill Targets Identfied (2).005.jpeg

Figure 5: Roseby South Project location map

APPENDIX 3: TABLE 1 OF THE JORC CODE, 2012 EDITION

The table below is a description of the assessment and reporting criteria used in reporting the Exploration Results that reflects those presented in Table 1 of The Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (The JORC Code, 2012).

Section 1: Sampling Techniques and Data

Criteria Commentary

Sampling Soil samples are surface samples (top 20cm)

technique sieved to -2mm to obtain a ~100g sample size.

s Sampling is conducted only when

dry.

Rockchip samples were collected from patchy

surface rock

subcrop or outcrops and are typically chip

samples across exposed rock faces over an

area

<1m

2 and are commonly selective targeting

mineralised or altered rock

exposures.

All rockchip and duplicate (referee) soil

analyses were analysed at ALS laboratories in

Townsville.

No new Altona drill data is reported.

For the referenced historical Placer drilling

at Whippersnapper reported sampling technique

data is limited; holes are reported as RC

with sampling at 2 metre intervals.

Drilling Not applicable, no new results presented other

technique than significant intersections from historic

s data.

For the referenced historical Placer drilling

at Whippersnapper holes are reported as RC no

other data is

provided.

Drill Not applicable, no new data reported.

sample

recovery

Logging Not applicable, no new data reported.

Sub-sampliNot applicable, no new sub-sampled data

ng reported.

technique

s and

sample

preparati

on

Quality Soil Samples

of assay Soil samples were routinely analysed for copper

data and (and a suite of

laborator

y other elements) using a Niton XL3tGOLDD+

tests hand-held XRF instrument. Analyses are

conducted routinely under controlled

conditions in the site office.

Quality Control included: standards (certified

reference materials) from

Geostats Ltd. Standards were inserted into the

sampling sequence at 1:20 ratio and included

representative material for copper.

Whenever a bias has been detected it has been

found to

be

consistent against the reference data and

therefore no corrections have been

made

.

Umpire soil samples were submitted to ALS

laboratories in Townsville for analysis using

Trace Level method by four acid near total

digest (method code

ME-ICP61

; copper range 1 -10,000ppm) for 33 elements;

and; gold using Super Trace Level method by

aqua

regia digestion with 50g sample weight (method

code: Au-ST44;

gold range 0.1ppb - 1ppm). The umpire samples

were selected from traverses across each

anomaly; these displayed no bias and an

acceptable level of precision for the

purpose.

Rock or Drill Samples

All rock samples were analysed at ALS

laboratories in Townsville for

a standard suite of elements.

Samples were analysed by Aqua Regia or a four

acid digest

(

HF-HNO3 -HClO4 acid digestion, HCl leach) diges

t using ICP-AES and ICP-MS (method code:

ME-MS41 or

ME-MS61

; copper range 0.2 - 10,000ppm)) for 51

elements. This included

copper

, with a detection limit of 0.2ppm. Data

reported from Aqua

Regia digestion should be considered as

representing only the leachable portion of a

particular

analyte while the four acid digestion is a

near-total

digestion.

On return of copper values of greater than 1%

a second series of analyses were undertaken.

This involved an ore grade Aqua

Regia digestion (method code: ASY-AR01)

followed by ICP-AES analysis optimised for

accuracy and precision at high concentrations

(method code:

ME-OG46).

Gold was analysed via a fire assay (30g) with

an AAS finish, with a lower

detecti

on limit of 0.01ppm and upper detection limit

of

100

ppm.

Quality Control utilised certified reference ma

terial

(standards) from Geostats Ltd. Standards were

inserted into the sampling sequence at

a 1:20 ratio and included representative standa

rds

for copper and gold and also blanks. Field

duplicates

were taken using a riffle splitter on site for

every

20

th sample. The laboratory also utilised

standards

which

were inserted into each sample batch.

All duplicate and reference data display

acceptable accuracy and precision.

No samples were analysed by an umpire

laboratory.

No geophysical tools were used to determine

the results reported

here.

Referenced Historical Drill Sampling

For the referenced 1992 Placer drilling at

Whippersnapper analyses are reported as

having been analysed at ALS Mount Isa using

method IC581 for 8 elements including copper,

and method PM209 for

gold.

VerificatiResults were checked by several Altona

on of personnel.

sampling

and No twinned holes.

assaying All field logging or field sampling data was

done using a laptop and uploaded into the

company

Datashed database and validated by company

database

personnel.

All assay files were received in digital

format from ALS Laboratories. All

Niton handheld XRF soil data was downloaded

from the instrument in digital format. Data

was uploaded into the Altona

Datashed database and validated by company

database personnel. No manual data inserts

took

place.

No adjustments have been applied to the

results.

Location Soil sample locations are surveyed using

of data handheld GPSs (Garmin GSMAP78s) with an

points approximate 5 metre horizontal accuracy.

No new drillholes.

Collar coordinates of historical drill holes

by Placer and Australian Copper Miner at

Whippersnapper were not recorded in the

sou

rce reference annual reports CR4696 and CR27193

. Hole positions were located in the field

based on maps and descriptions in the

reports. For the most recent Placer RC

drilling

holes (TSP1,2, 3 and 4) are located with a

high degree of confidence. Collar locations

have been surveyed using a hand held GPS with

an approximate 5 metre horizontal accuracy.

The Grid is GDA94 MGA Zone 54.

Data The soil sample grid spacings are 20 x 20

spacing metres

and at Hobby and 20 x 40 metres at Harvest. In

distribut the

ion areas

surrounding the anomalies spacing is typically

20 x 200 metres.

OrientatioNot applicable, no new drill data reported.

n of data For referenced historical drilling by Placer

in at

relation

to Harvest mineralisation is interpreted to

geologica strike approximately

l north

structure-south with unconfirmed dips subvertical to

steeply east dipping. Drilling was towards

the west or east generally at 60 degree dips

and is deemed appropriate.

Sample Soil samples are collected and bagged into

security pre-numbered plastic clip-lock bags. Unique

sample numbers were retained during the whole

process.

Samples were collected and delivered to the

Altona field office daily as they were

collected.

Soil samples were retained for reference and

stored in Altona facilities in

Cloncurry.

All rock and umpire soil samples were then

catalogued and sealed prior to dispatch to

the laboratory by Altona staff.

Audits or Internal audits and reviews of key datasets

reviews collected by Altona have been undertaken.

Past exploration data by other explorers has

only been validated against the source

references.

Analysis of the results from the QA/QC samples

are routinely

analysed by the database manager and geologist

on a batch and campaign basis.

For laboratory analyses, the accuracy of key

elements such

copper and gold, was acceptable and the field

duplicate assay data was unbiased and shows

an acceptable level of

precision.

For handheld Niton XRF analyses the data may

display

a consistent bias against the reference data. I

n contrast laboratory umpire samples from the

reported soil anomalies displayed no bias and

an acceptable level of precision for the

purpose.

No external audits or reviews have been

undertaken.

Section 2: Reporting of Exploration Results

Criteria Commentary

Mineral Harvest sits within EPM 25761. Hobby is

tenement within EPM 25759. The EPMs are 100% owned

and land by Altona Mining Ltd.

tenure

status

No joint ventures apply.

There are agreements in place with the native

title holders, the

Kalkadoon people and with landholders.

No significant historic sites or national

parks are located within the reported

exploration

sites.

Both EPMs were granted in late 2015 and are

in good

standing.

ExplorationVery small historical surface workings (slots

done by and shallow shafts) on narrow high grade

other copper oxide veins/gossans exist at

parties

Harvest and Hobby. These are more extensive

at

Harvest.

Rockchip sampling has been undertaken around

the historical workings at Hobby

anomal

ies by pervious explorers. No systematic soil

sampling, ground geophysics

or drilling has been undertaken.

Previous exploration has been undertaken by

several parties at

Harvest since the 1970s. Early exploration

was by Australian Copper Mines N.L. and

Aquitane Australia Minerals Pty Ltd in the

1970s, and CRA and Placer in the 1990s.

The majority of this work

was surface mapping and sampling. Four

shallow diamond drill holes were drilled by

Australian Copper Mines (1971, CR4696) in

the

south

ern portion of the main anomaly. No assay

data is reported for these holes although

graphic logs show mineralised copper

intercepts consistent with subsequent nearby

drill holes conducted by Placer.

It is unclear from the report whether the diam

ond holes were submitted for analysis or the

graphic logs

refl

ect visual estimates for copper. Placer

(1995) drilled 4 RC holes in the

north

ern portion of the main anomaly. The holes

drilled parts of the mapped copper anomaly

and recorded copper and gold mineralisation

over broad widths.

Geology Mineralisation is considered to be

hydrothermal,

stratabound and structurally controlled

following internal competency, chemical and

permeability

contrast.

Mineralisation occurs both as fine-grained

pervasive

dissemination

s and in coarse grained veins. Mineralisation

occurs as sulphide

minerals

under a shallow, approximately 25 metre,

oxidised cap. Copper sulphides include

chalcoc

ite, chalcopyrite and bornite. The majority

of the oxide mineralisation consists of

copper oxides (malachite) and silicates.

Drill hole Not applicable, no new drill data reported.

InformatioExploration results are not being reported

n for the Mineral Resource area.

Historical data for drilling at Harvest was

referenced from annual report CR27193 (CRA

Exploration Pty Ltd 1975) and CR4696

(Australian Copper Mines N.L. 1971).

Data Exploration results are not being reported

aggregatio for the Mineral Resource

n area.

methods

RelationshiExploration results are not being reported

p between for the Mineral Resource

mineralisa area.

tion

widths Placer RC drill holes at Harvest are at a

and high angle to the broader zones of

intercept mineralised stratigraphy and mineralised

lengths structures and are interpreted to be

approaching true

widths.

Diagrams Figures 1 to 5.

Balanced Exploration results are not being reported

reporting for the Mineral Resource

area.

A full compilation of available soil and rockc

hip

data from the reported prospects has been

included.

Whilst the soil anomalies are attractive and

similar in size and tenor to response over

the Little Eva deposit,

the main text of the release notes that the

tenor of surface anomalism is not a reliable

guide to the nature of any potential

underlying

mineralisation.

Other Exploration results are not being reported

substantiv for the Mineral Resource

e area.

exploratio

n

data

Further Additional work in the future will consist of

work RC exploration prospect scale mapping and

further soil sampling. Heritage clearance

surveys are required ahead of drilling and

are

planned.

APPENDIX 4: SUMMARY OF MINERAL RESOURCE ESTIMATES FOR THE CLONCURRY PROJECT

DEPOSIT TOTAL CONTAINED MEASURED INDICATED INFERRED

METAL

TonneGrade CopperGold TonneGrade TonneGrade TonneGrade

s s s

milliCu Au tonnesouncesmilliCu Au milliCu Au milliCu Au

on on on on

% g/t % g/t % g/t % g/t

LITTLE EVA PROJECT

Little Eva105.90.52 0.09 546,00295,0037.1 0.60 0.09 45.0 0.46 0.08 23.9 0.50 0.10

0 0

Turkey 21.0 0.59 123,00- - - 17.7 0.59 3.4 0.58 -

Creek 0

Ivy AnnA 7.5 0.57 0.07 43,00017,000- - - 5.4 0.60 0.08 2.1 0.49 0.06

Lady Clayr14.0 0.56 0.20 78,00085,000- - - 3.6 0.60 0.24 10.4 0.54 0.18

e

A

BedfordA 1.7 0.99 0.20 17,00011,000- - - 1.3 1.04 0.21 0.4 0.83 0.16

Sub-to150.20.54 0.09 807,00409,0037.1 0.60 0.09 73.0 0.52 0.07 40.1 0.52 0.11

tal 0 0

OTHER DEPOSITS

BlackardA 76.4 0.62 - 475,00- 27.0 0.68 - 6.6 0.60 - 42.7 0.59 -

0

ScanlanA 22.2 0.65 - 143,00- - - - 18.4 0.65 - 3.8 0.60 -

0

Longamundi10.4 0.66 - 69,000- - - - - - - 10.4 0.66 -

A

LegendA 17.4 0.54 - 94,000- - - - - - - 17.4 0.54 -

Great Sout6.0 0.61 - 37,000- - - - - - - 6.0 0.61 -

hern

A

CarolineA 3.6 0.53 - 19,000- - - - - - - 3.6 0.53 -

Charlie Br0.7 0.40 - 3,000 - - - - - - - 0.7 0.40 -

own

A

Sub-to136.70.61 - 840,00- 27.0 0.68 - 25.0 0.64 84.7 0.59 -

tal 0

TOTAL 286.80.57 0.04 1,647,409,0064.1 0.63 0.05 98.0 0.55 0.05 124.80.57 0.04

000 0

A This information was prepared and first disclosed under the JORC Code 2004 Edition. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported. All other resources classified and reported in accordance with JORC Code 2012 edition.

Note:Tonnages are dry metric tonnes and have been rounded, hence small differences may be present in the totals.

See ASX release of 23 October 2007 and 26 July 2011 (Longamundi, Great Southern, Caroline and Charlie Brown), 23 April 2012 (Bedford, Ivy Ann and Lady Clayre), 03 July 2012 (Blackard and Scanlan) and 22 August 2012 (Legend) for full details of resource estimation methodology and attributions.

Little Eva is reported above a 0.2% copper lower cut-off grade, all other deposits are above 0.3% lower copper cut-off.

AOH0777-27.

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