NI 43-101 TECHNICAL REPORT ON THE TA KHOA (Ni Cu Co ± … · 2019-12-31 · ni 43-101 technical report on the ta khoa (ni cu co ± pge) prospects, son la province, vietnam for asian

NI 43-101 TECHNICAL REPORT ON THE TA KHOA (Ni Cu Co ± PGE) PROSPECTS,

SON LA PROVINCE, VIETNAM

FOR

ASIAN MINERAL RESOURCES LIMITED 120 ADELAIDE STREET WEST, SUITE 2500,

VANCOUVER, BC, CANADA, M5H 1T1

MARCH 3RD 2017

D B MAPLESON, FAUSIMM B A GRGURIC, FAIG BM GEOLOGICAL SERVICES PTY LTD MINERALIUM PTY LTD 36 HANNAN STREET, KALGOORLIE 76 TEMBY AVENUE, KALAMUNDA WA 6430 AUSTRALIA WA 6076 AUSTRALIA TEL: +61 8 9091 8925

TEL: +61 8 9293 4297

EMAIL: [email protected]

EMAIL: [email protected]

BAN PHUC NICKEL PROJECT, SON LA PROVINCE, VIETNAM

NI 43-101 TECHNICAL REPORT PAGE 2

1. EXECUTIVE SUMMARY ................................................................................................................. 6

1.1 PROPERTY DESCRIPTION AND OWNERSHIP ........................................................................................ 61.2 TENURE ............................................................................................................................................. 61.3 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES AND PHYSIOGRAPHY ............................................... 81.4 EXPLORATION, GEOLOGY AND MINERALIZATION ............................................................................. 81.5 MINERAL RESOURCE ......................................................................................................................... 91.6 MINING METHODS AND MINE LAYOUT ............................................................................................. 91.7 METALLURGY .................................................................................................................................... 91.8 RECOVERY METHODS ........................................................................................................................ 91.9 PROJECT INFRASTRUCTURE ............................................................................................................. 101.10 MARKET STUDIES AND CONTRACTS ................................................................................................ 101.11 ENVIRONMENTAL STUDIES .............................................................................................................. 101.12 CAPITAL AND OPERATING COSTS .................................................................................................... 101.13 ECONOMIC ANALYSIS ...................................................................................................................... 101.14 CONCLUSIONS AND RECOMMENDATIONS ........................................................................................ 10

2. INTRODUCTION ............................................................................................................................. 11

2.1 ISSUER ............................................................................................................................................. 112.2 SOURCES OF INFORMATION ............................................................................................................. 112.3 SCOPE OF PERSONAL INSPECTIONS .................................................................................................. 122.4 TERMS OF REFERENCE ..................................................................................................................... 12

3. RELIANCE ON OTHER EXPERTS .............................................................................................. 12

4. PROPERTY DESCRIPTION AND LOCATION .......................................................................... 13

4.1 LOCATION OF PROPERTY ................................................................................................................. 134.2 AREA OF PROPERTY ......................................................................................................................... 134.3 TENURE AGREEMENTS AND ENCUMBRANCES ................................................................................. 164.4 ENVIRONMENTAL LIABILITIES ......................................................................................................... 174.5 OTHER OPERATING PERMITS ........................................................................................................... 174.6 FACTORS AFFECTING ACCESS, TITLE OR ABILITY TO PERFORM WORK ON THE PROPERTY. ............... 17

5. ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY ......................................................................................................................................... 17

5.1 TOPOGRAPHY, ELEVATION AND VEGETATION ................................................................................. 175.2 ACCESS TO PROPERTY ..................................................................................................................... 185.3 CLIMATE .......................................................................................................................................... 185.4 INFRASTRUCTURE ............................................................................................................................ 19

5.4.1 Power .......................................................................................................................................... 195.4.2 Water .......................................................................................................................................... 195.4.3 Ancillary ..................................................................................................................................... 19

6. HISTORY .......................................................................................................................................... 20

7. GEOLOGICAL SETTING AND MINERALISATION ............................................................... 21

7.1 REGIONAL AND TECTONIC SETTING ................................................................................................ 217.2 LOCAL GEOLOGY ............................................................................................................................. 247.3 STRUCTURE ..................................................................................................................................... 257.4 METAMORPHISM .............................................................................................................................. 277.5 PROPERTY GEOLOGY ....................................................................................................................... 28

8. DEPOSIT TYPES ............................................................................................................................. 28

8.1 MASSIVE SULPHIDES ....................................................................................................................... 288.2 DUNITE / PERIDOTITE DISSEMINATED SULPHIDES ........................................................................... 30



8.3 DYKE-HOSTED DISSEMINATED SULPHIDES ...................................................................................... 318.4 SECONDARY NI-CU MINERALISATION ............................................................................................. 31

9. EXPLORATION ............................................................................................................................... 32

9.1 EXPLORATION CAMPAIGNS ............................................................................................................. 329.1.1 1996 AMR Programme ............................................................................................................... 329.1.2 1999-2002 Falconbridge Programme ........................................................................................ 329.1.1 2002 – 2016 AMR Programmes ................................................................................................. 33

9.2 EXPLORATION PROSPECTS ............................................................................................................... 349.2.1 Kingsnake ................................................................................................................................... 349.2.2 Ban Chang .................................................................................................................................. 379.2.3 Suoi Phang .................................................................................................................................. 419.2.4 Ban Mong ................................................................................................................................... 469.2.1 Ban Khang .................................................................................................................................. 489.2.2 Ban Khoa .................................................................................................................................... 519.2.3 Ban Phuc MSV Extensions ......................................................................................................... 56

10. DRILLING ......................................................................................................................................... 60

10.1 SURVEY SYSTEM ............................................................................................................................. 6010.2 SURFACE DRILL CORE ..................................................................................................................... 6110.3 UNDERGROUND DRILL CORE ........................................................................................................... 62

11. SAMPLE PREPARATION, ANALYSIS AND SECURITY ........................................................ 63

11.1 SAMPLE PREPARATION - 1959 TO 1963 ........................................................................................... 6311.2 SAMPLE PREPARATION - 1996 TO 2003 ............................................................................................ 6311.3 SAMPLE PREPARATION - 2004 TO PRESENT ...................................................................................... 6411.4 ANALYSIS OF DATA - 1959 TO 1963 ................................................................................................ 6411.5 ANALYSIS OF DATA – 1996 TO 2003 ............................................................................................... 65

11.5.1 Duplicate Assay Programme-1996 Core ............................................................................... 6511.5.2 Falconbridge Check Assay Programme ................................................................................ 66

11.6 ANALYSIS OF DATA – 2004 TO PRESENT .......................................................................................... 6711.6.1 Standards ............................................................................................................................... 6711.6.2 Blanks ..................................................................................................................................... 7111.6.3 Check Assays .......................................................................................................................... 7411.6.4 Author’s Opinion on Sample Preparation, Security and Analytical Procedures .................. 74

12. DATA VERIFICATION .................................................................................................................. 74

12.1 SITE VISIT ........................................................................................................................................ 74

13. MINERAL PROCESSING AND METALLURGICAL TESTING ............................................. 74

14. RESOURCE ESTIMATES .............................................................................................................. 74

15. MINERAL RESERVE ESTIMATE ............................................................................................... 76

16. MINING METHODS ........................................................................................................................ 76

17. RECOVERY METHODS ................................................................................................................ 76

18. PROJECT INFRASTRUCTURE .................................................................................................... 76

19. MARKET STUDIES AND CONTRACTS ..................................................................................... 77

20. ENVIRONMENTAL, PERMITTING AND SOCIAL OR COMMUNITY IMPACT .............. 77

21. CAPITAL AND OPERATING COSTS .......................................................................................... 77

22. ECONOMIC ANALYSIS ................................................................................................................. 77

23. ADJACENT PROPERTIES ............................................................................................................ 77

24. OTHER RELEVANT DATA AND INFORMATION .................................................................. 77



25. INTERPRETATION AND CONCLUSIONS ................................................................................ 77

26. RECOMMENDATIONS .................................................................................................................. 78

27. REFERENCES .................................................................................................................................. 79

28. DATE AND REFERENCE PAGES ................................................................................................ 82

List of Figures FIGURE1LOCATIONOFTHETAKHOACONCESSION....................................................................................................7FIGURE2TAKHOACONCESSIONLICENCES..............................................................................................................14FIGURE3LICENCEAREASATTHEBANPHUCOPERATIONS...........................................................................................16FIGURE4TAKHOAPROJECTAREAOVERLOOKINGBANPHUCNICKELMINE(LOOKINGNORTH)..........................................18FIGURE5LOCATIONOFTHEBANPHUCPROJECTAREAINRELATIONTOTHESONGDARIFTANDPANXIRIFTINSOUTHERNCHINA23FIGURE6THEGEOLOGICALMAPFORTHETAKHOAANTIFORMSHOWINGGEOLOGICALUNITS,SIGNIFICANTFAULTSANDNI-CU

PROSPECTS..............................................................................................................................................24FIGURE7CROSSSECTIONSHOWINGTERRIGENOUSANDCALCAREOUSMETASEDIMENTARYUNITSINTHETAKHOAANTIFORM.

MAFIC/ULTRAMAFICINTRUSIVESAREMARKEDINDARKPURPLE.........................................................................25FIGURE8SUMMARIZEDSTRUCTURALHISTORYOFTHETAKHOAANTICLINE(AFTERDAVISANDCOWAN2015).....................26FIGURE9TYPE2TRIANGULARTEXTUREDDISSEMINATEDSULPHIDE(BRONZE)INBLACKBLADEDSERPENTINITEAFTER

METAMORPHICOLIVINEFROMTHEUB2UNIT,BANPHUCDISSEMINATEDRESOURCE.QUARTERCOREIS3CMWIDE.....27FIGURE10THEBANPHUCMSVINANUNDERGROUNDEXPOSURESHOWNFLANKEDBYDEFORMEDHOSTROCKS.PHOTOGRAPHED

IN2011(B.GRGURIC)..............................................................................................................................29FIGURE113-DMODELSHOWINGRELATIONSHIPBETWEENTHEMASSIVESULPHIDEVEIN(YELLOW-GREENPLATESEENINSECTION)

ANDTHEBANPHUCDUNITICINTRUSION(AQUAANDPURPLE).FROMCOWANANDDAVIS(2015)...........................30FIGURE12LOCATIONOFAMRMAGMATICNI-CU-PGEPROSPECTSOVERLAIDONGEOLOGY.MAPHASBEENROTATEDFOR

CLARITY.AMRIMAGE...............................................................................................................................33FIGURE13 KINGSNAKEOUTCROPPINGPARTLY-OXIDISEDBRECCIA/MASSIVESULPHIDEANDTREMOLITEALTERED

MAFIC/ULTRAMAFICEXPOSEDINWATERFALLCREEK.AMRPHOTO....................................................................34FIGURE14KINGSNAKEGEOLOGY,DRILLHOLEANDROCKCHIPRESULTS(AMRIMAGE)......................................................35FIGURE15KINGSNAKELONGSECTION(AFTERMAPLESONANDSMALLEY2014)............................................................36FIGURE16LONGSECTIONSHOWINGTHENEWLY-DISCOVEREDKINGSNAKEWEST(LEFT)EXTENSIONOFKINGSNAKE(REDZONE).

AMRIMAGE...........................................................................................................................................37FIGURE17BANCHANGGEOLOGY,DRILLHOLEANDROCKCHIPRESULTS(AMRIMAGE).....................................................38FIGURE18HISTORICALADITATBANCHANG(AMRIMAGE).......................................................................................39FIGURE19LEVELPLANSHOWINGHISTORICALCHANNELSAMPLERESULTSFROMTHELEVEL13ADITATBANCHANG..............40FIGURE20CROSSSECTIONSHOWINGDIAMONDDRILLHOLEBC08-01ANDHISTORICVIETNAMESEDRILLHOLESATBANCHANG.

AMRIMAGE...........................................................................................................................................41FIGURE21MAPPEDGEOLOGYOFTHESUOIPHANGPROSPECT(AMRIMAGE)...............................................................43FIGURE22MAPPEDGEOLOGYOFTHESUOIPHANGMASSIVESULPHIDEVEINWITHDRILLINTERCEPTS(AMRIMAGE).............44FIGURE23BRECCIATEDMASSIVESULPHIDEFROMDIAMONDHOLESP14-04,SUOIPHANG.IMAGEFROMDAVISANDCOWAN

(2015)..................................................................................................................................................45FIGURE24CROSSSECTIONSHOWINGDRILLHOLESP14-04ATSUOIPHANG(AMRIMAGE)............................................46FIGURE25GEOLOGYANDSURFACEROCKCHIPANDTRENCHSAMPLINGRESULTSFORTHEBANMONGPROSPECT.................47FIGURE26CROSSSECTIONSHOWINGDRILLHOLESBM09-01AND-02ATBANMONG...................................................48FIGURE27BANKHANGSURFACEGEOLOGY,INTERPRETEDULTRAMAFICBOUNDARYANDLOCATIONOFTRENCHES(AMRIMAGE).

50FIGURE28LOCATIONOFBANKHANGEMANOMALIESINRELATIONTOINTERPRETEDGEOLOGY(AFTERMAPLESONANDSMALLEY,

2014B)..................................................................................................................................................51FIGURE29GEOLOGICALMAPFORTHEBANKHOAINTRUSION(LARGEPURPLESHAPE).ALSOSHOWNISTHEMODELLEDOUTCROP

LOCATIONFORTHEBK-1ELECTROMAGNETICANOMALYIDENTIFIEDBYSOUTHERNGEOSCIENCE(AFTERSPEYERS,2010).53FIGURE30INTEPRETEDCROSSSECTIONOFBANKHOABASEDINEARLYVIETNAMESEDRILLING.AMRIMAGE.......................54FIGURE31CUANOMALIESINSOILATBANKHOA.THEINTRUSIONISSHADEDPURPLE.FROMSMALLEYANDMAPLESON(2014C).

55



FIGURE32COLLARPOSITIONSOF2014BANPHUCEXTENSIONALDRILLINGONGEOLOGYANDTOPOGRAPHY.AFTERMAPLESON(2014B).................................................................................................................................................57

FIGURE33SECTION50,000EBANPHUCSHOWINGDRILLTRACEFORBP14-06.AFTERMAPLESON(2014B).....................58FIGURE34BANPHUCDEEPSLONGSECTIONSHOWINGZONEOFDISPLACEDMSV(AMRIMAGE)......................................59FIGURE35BANPHUCEASTLONGSECTIONSHOWINGDRILLING2015HOLEPIERCEPOINTLOCATIONS(AMRIMAGE)............60FIGURE36PHOTOGRAPHOFANUNDERGROUNDHEADINGSHOWINGMARKUPANDSAMPLEINTERVALS.............................63FIGURE37SCATTERPLOTOFCHECKASSAYPROGRAMME...........................................................................................66FIGURE38RESULTSFORSTANDARDOREAS72B.....................................................................................................68FIGURE39RESULTSFORSTANDARDOREAS74A.....................................................................................................69FIGURE40RESULTSFORSTANDARDGANNETMHB1................................................................................................69FIGURE41RESULTSFORSTANDARDGANNETBM997-5...........................................................................................70FIGURE42RESULTSFORSTANDARDOREAS14P.....................................................................................................70FIGURE43RESULTSFORSTANDARDOREASM3.....................................................................................................71FIGURE44RESULTSOFANALYSISOFCOARSEBLANK.................................................................................................72FIGURE45RESULTSOFANALYSISOFFINEBLANKOREAS22D...................................................................................73FIGURE46RESULTSOFANALYSISOFFINEBLANKOREAS22P....................................................................................73

List of Tables

TABLE1BANPHUCDISSMEASUREDANDINDICATEDMINERALRESOURCEGRADEANDTONNAGETABULATIONS(SHIETAL2013)......................................................................................................................................................9

TABLE2EXPLORATIONWORKSASPARTOFCOMMITMENTTONEWEXPLORATIONLICENCE(1366/GP-BTNMT)................14TABLE3CLIMATEINFORMATIONFORTHEBANPHUCDISTRICT....................................................................................19TABLE4SUMMARYOFPRE-1996DRILLINGANDTRENCHINGACTIVITIESONTHECURRENTAMRLICENSE.DATAFROMAMR..20TABLE5PHYSICALCHARACTERISTICSFORNISANDPGEDEPOSITSOFSOUTHWESTERNCHINAANDNORTHERNVIETNAM........22TABLE5SIGNIFICANTDRILLHOLEINTERCEPTSATKINGSNAKE......................................................................................36TABLE7TRANSFORMATIONDATAFORGRIDSYSTEMSEMPLOYEDATBANPHUC.............................................................61TABLE8STANDARDSUSEDASPARTOFQA/QC.......................................................................................................67TABLE9BLANKSUSEDINQA/QCPROGRAMMEATBANPHUC...................................................................................72TABLE10BANPHUCDISSMEASUREDANDINDICATEDMINERALRESOURCEGRADEANDTONNAGETABULATIONS(SHIETAL

2013)....................................................................................................................................................75TABLE11BANPHUCMEASUREDANDINDICATEDDISSEMINATEDRESOURCEABOVE0.9%NI(SHIETAL,2013).................76



1. EXECUTIVESUMMARY

1.1 Property Description and Ownership

TheTaKhoaConcessionislocatedintheSonLaprovince,160KmNorthWestofHanoi,Vietnam(Figure 1 ).The150km2concessionismanagedbyBanPhucNickelMines(BPNM)andconsistsofa49.7km2explorationlicenceanda7Hamininglicence.BPNMisanincorporatedjointventurecompanywhichisownedby:

• AMRNickelLimited,awhollyownedsubsidiaryofAsianMineralResources(AMR)90%,and

• SonLaMechanicalEngineeringJointStockCompany(Coxama)10%.

1.2 Tenure

The150Km2TaKhoaConcession iscoveredbytheForeign InvestmentLicence,522G/P,whichBan PhucNickelMines Joint Venture Enterprise (BPNMJVE)was granted on January 29th 1993.BPNM now operates under the current Investment Certificate No. 241022000033 which wasoriginally granted July 30th 2007 by the Son La People’s Committee. The Investment Certificateindicates a Project area of 150km2 without specifying land for exploration, exploitation,processingplantetcandcreatesanoveralllegalprotectionfortheCompanywithrespecttothe150km2, i.e., noother investor canapply for investment in this landarea (YKVN,2016).AnewExplorationLicence(1366/GP-BTNMT) wasgrantedonthe10thofJuly2014byMONRE(MinistryofNaturalResourcesandEnvironment)coveringanareaof49.7Km2withinthe150km2.BPNM was granted a Mining License (1211/GP-BTNMT) covering the Ban Phuc deposit on 17December 2007. As prescribed under Vietnam’s constitution and Vietnamese Law, all land isownedbytheState.UndertheLandLaw2003andtheDecreeson implementationof theLandLaw2003,theStateallocateslanduserightstolandusers;thelanduserightsareregulatedunderthe Land Law and its implementing regulations, and managed by the provincial People’sCommittee (PC)andtheprovincialDepartmentofNaturalResourcesandEnvironment (DONRE)oftheprovincewherethelandislocated(Shietal,2013).Landusenegotiationsareconductedwithvillagersandgovernmentagenciesmindfulofprevioustraditional ties to land. Under the Vietnamese Law on Land, the Government (through theprovincialPC)will acquire the land required forminingand lease it toBPNM (According to theLaw on Minerals, the Company is not required to lease land from the provincial people’scommitteeforexplorationpurposes).ExistinglandoccupierswithcertificatesoflanduserightorotherproofofoccupationwillbecompensatedbytheGovernment;BPNMhavereimbursedtheGovernment for the purchase costs. 1,072,972.5m2

of land has already been acquired by theGovernmentandleasedtoBPNMforthefollowingpurposes:

• 1,000,743m2 for theminingarea (i.e.7hectares for theMLcovering thenowdepleted

massive sulphide orebody) and construction of industrial auxiliary works, which wasleasedtoBPNMinMarch2009;

• 67,567m2forofficeandcampsite,whichwasleasedtoBPNMinJuly2004;

• 1,197m2 for construction of domesticwater pipeline and auxiliary facilities,whichwasleasedtoBPNMinApril2012;and



• 3,465.5m2 for constructionofwater station, pipeline and auxiliary facilities,whichwas

leasedtoBPNMinApril2012.• 71,794.5m2forcontainingwasterockandsoilfromtheminingactivitiesofthecompany.

Figure 1 Location of the Ta Khoa Concession



1.3 Accessibility, Climate, Local Resources and Physiography

TheTaKhoaConcession is readilyaccessedby sealed road fromHanoi viaSonTay,ThanhSon,PhuYen,BacYenandTaKhoa.ThejunctionfortheprovincialhighwaytoSonLaiswithin35kmbysealedroadalsowhichisanalternateroutetotheportofHaiPhong.Theregionessentiallyhastwoseasons:adryseason(winter)andwet(summer)season.WinteriscoolandlastsfromOctobertoMarchwithpersistentdrizzlingrainoccurringduringFebruaryandMarch. Hotmonsoonal summers occur between April and Septemberwith occasional typhoonevents,generallytowardstheendoftheseason.Theprojectarea is locatedwithinruggedterrainofthemountainousareas inthenorth-westofVietnam. The steep-sided Da River Valley traverses the region in a general south-easterlydirection.On the northern side, steepmountainous country rises to about 1,200mnearHongNgai.OnthesouthsideoftheDaRiversimilarmountainouscountryrisesto1,520m.

1.4 Exploration, Geology and Mineralization

Theearliest recordswhichBPNMpossessof explorationwithin theTaKhoadistrict is between1959and1963.ThiswasundertakenbyaVietnamese-Chinesegeologicalsurveyandthefocusoftheirexplorationeffortwastodiscoveranewcopperprovince.AnecdotalevidencesuggeststheJapanesewereactiveintheareaduringtheiroccupationbetween1940and1945.

Anumberoftypesofmineralizationarerecognizedintheintrusiveandsurroundingmetamorphicrocks:

Massivesulphidetypemineralization(MSV);

DisseminatedsulphidetypemineralizationsurroundingtheMSV;

Lowgradedisseminatedsulphidesindunite(DISS);and

Oxidizedtypemineralization.

MostNi-Cu-Comineralization,withorwithoutPGE’s, isbothspatiallyandtemporallyassociatedwithultramaficintrusionsincluding:

• veins of high-grade massive Ni-Cu-Co (±PGE) sulphide in metasedimentary wall rocksadjacenttoultramaficintrusions,withlocallydevelopedlow-gradedisseminatedcopper-nickelmineralizationmarginaltotheMSV;and

• disseminated low-grade nickel or nickel-copper mineralization (DISS) in basin shapedcumulatelayers(locallymultiple),oftennearthebaseandwallsofultramaficintrusions.

TheconcessionarealiesintheSongDarift,amajorcrustalsuturezone,whichispartofabroadernorthwest trendingcorridorofdeepcontinental riftingknownas theRedRiverFaultZone.Thearea is an excellent geological address in a geotectonic and structural zone that has manyfavourablefactorsfordevelopmentofNi-CudeposittypessuchasNorilsk(Russia)andJinchuan(China).Evidenceformagmatismonaregionalscaleaddstothispicture.

Considerable potential exists in the district for large-tonnage, lower-grade deposits ofdisseminated sulphides within ultramafic intrusions, similar to the DISS style mineralisation.Regional exploration in the Ta Khoa corridor has identified an extensive system of mafic-ultramafic intrusives, a remarkable number of which have associated Ni-Cu massive ordisseminatedsulphidemineralization.



1.5 Mineral Resource

Nomineral resourceswereestimatedfor thepurposesof this report.Themassivesuphidevein(MSV)mineral resource at Ban Phuc NickelMine has been depleted, having beenmined from2013 to2016.A [email protected]%Ni for24,000nickel tonnesand0.89%Cu for10,800copper tonneswereminedandprocessedthroughtheBanPhucconcentrator.ThereremainsaNI43101compliantdisseminatednickelmineralresourcereportedbyCSAGlobalPtyLtd.dated5th February 2013; Report No: R124.2013 (Shi et al, 2013). This measured and indicatedcomponentofthisresourceabove0.2%[email protected]%Ni(Table 1).Thisresourcewasestimated using ordinary kriging interpolation methods based on 3D wireframes. No furtherdrillinghasbeenundertakenorinformationaddedthatwouldmateriallyaffectthisestimate.

Table 1 Ban Phuc DISS Measured and Indicated Mineral Resource Grade and TonnageTabulations(Shietal2013)

.

1.6 Mining Methods and Mine Layout

Thissectionisnotapplicabletothecurrentreport.

1.7 Metallurgy


1.8 Recovery Methods




1.9 Project Infrastructure

Someprojectinfrastructureisalreadyinplaceduetorecentandhistoricalminingandexplorationactivitiesinthearea.Thisincludesreasonablesealedandunsealedroads,existingcampfacilitiesandadministrationbuildings,aprocessplant,BanPhucmineportals,workshopandwarehouse,ROMpads and the tailings storage facility (TSF). Power is supplied from thenational 35kV gridpowerviaa6kVsubstationfordistributionwithinthesitevialowvoltagemotorcontrolcentres.The processing facility and camp site are currently on a care andmaintenance program sinceminingceasedattheBanPhucmineinlate2016.

1.10 Market Studies and Contracts

Therehavebeennomarketstudiesconductedandtherearenoexistingcontracts.

1.11 Environmental Studies

There are no environmental commitments for exploration activities undertaken other than aCommitmentonEnvironmentalProtectionsubmittedtotheBacYenDistrictPeoplesCommitteein2014.EnvironmentalmonitoringisnotrequiredbutrehabilitationofdrillholeareasisexpectedandconductedbyAMR.

1.12 Capital and Operating Costs


1.13 Economic Analysis


1.14 Conclusions and Recommendations

MagmaticNi-Cu-Co-PGEmineralisationintheTaKhoaConcessionareawasfirstidentifiedinthemid-1940’s, and to date the bulk of the drilling and all of themining activity has beenconcentrated in theBanPhucmassive sulphide vein.Outsideof themainBanPhucminingareaexplorationatmanyofthecurrentprospectsisatanearlystage,withtheexceptionofasmallgroupofhighprioritytargets.TheTaKhoaConcessionarealieswithintheSongDarift,amajor crustal suture zone, which is part of a broader northwest trending corridor of deepcontinentalriftingknownastheRedRiverFaultZone.Theexplorationpotentialoftheareaisconsideredexcellentgiventhegeotectonicaddress,identicalagetothegiantNorilsk-Talnakhsystem(Russia),and the fact that theultramafic intrusivebodies formpartof (andpossiblyfeeders to) theEmeishan large igneousprovince.TheRedRiver Fault ZonecontinuesnorthintoChinawhereisithosttoadditionalNi-Cudeposits.ExplorationworkconductedbyAMRhasfocussedonadditionalsourcesofmassiveormatrixsulphide mineralisation which could be readily processed using the existing metallurgicalplant.Theirworkhasadvancedseveralhistoricalprospectsand resulted in thediscoveryofnew prospects. Of these the most advanced and highest ranked include Kingsnake, SuoiPhang, Ban Mong, Ban Khang and Ban Khoa. Kingsnake is the most mature brownfieldsprospect on the Concession and based on the existing drilling, the known body of



mineralisationatKingsnake isestimatedtobe600mlong,0.2to3.0mthickandaveraging1.79%Ni,0.7%Cuand1.14ppmPGE.

Considerable potential also exists in the district for large-tonnage, lower-grade deposits ofdisseminated sulphideswithinultramafic intrusions, similar to theDISS stylemineralisation.Regional exploration in the Ta Khoa corridor has identified an extensive system of mafic-ultramafic intrusives, a remarkable number of which have associated Ni-Cu massive ordisseminatedsulphidemineralization.

The massive sulphide vein (MSV) mineral resource at Ban Phuc Nickel Mine has beendepleted, having been mined from 2013 to 2016, however, all processing infrastructure,power, access roads and site-based accommodation remains in good order through a careand maintenance programme. Given the existence of this modern infrastructure, thethreshold size requirement for a newmassive ormatrix sulphide discovery is considerablysmallerthanforapurelygreenfieldsexplorationplay.

In addition to the fundamental geological parameters, the Concession is attractive toexplorersdue to theexistenceofawell-trained,effectiveand relatively low-cost in-countrygeologicalteam,thelackofenvironmental liabilities/legaciesandthefactthatnoadditionaloperatingpermitsarerequiredforfutureexplorationactivities.

Existingdrilling,undergroundsamplingandexplorationrockchipassaydatacollectedbyAMRsince 2003 have been reviewed and the standard of sample preparation, security andanalyticalproceduresisconsideredacceptablebymodernindustrystandards.

2. INTRODUCTION

2.1 Issuer

BMGeological Services Pty Ltd (BMGS) andMineraliumPty Ltdwas retained by Evan Spencer,PresidentandCEOofAsianMineralResourcesandGovernorGeneralofBanPhucNickelminestoprepareanindependentTechnicalReportontheTaKhoaNickelProspects(theProject), locatedintheSonLaprovince innorth-westVietnam.Thepurposeofthisreport istoprovidetechnicalinformation supporting the update of the exploration potential at the Project. This TechnicalReportconformstotheNI43-101StandardsofDisclosureforMineralExplorationProjects.

BMGeologicalServicesisresponsibleforSections1.1to1.13,2,3,4,5,6,10,11,12,14,18,20,27and28.MineraliumisresponsibleforSections1.14,7,8,9,25and26.Sections13,15to17,19and21to24arenotconsideredapplicabletothescopeofthisreport.

The purpose of this report is to provide technical information supporting the update of theexploration activity at the Ta Khoa Concession and the prospectivity of the region based ondrilling, geophysics, geochemistryand structural analysis completed todateat theproject. ThisTechnicalReportconformstotheNI43-101StandardsofDisclosureforMineralProjects.2.2 Sources of Information

ThisreportwaspreparedbythefollowingQualifiedPersons(QP’s):

• DarrylMapleson,PrincipalGeologist,BMGeologicalServicesPtyLtd;FAusIMM.

• BenGrguric,PrincipalGeologist,MineraliumPtyLtd;FAIG.

The report isbased inpartonBPNM’s internal technical reports,maps,publishedgovernmentsreports, company letters and memoranda, and public information as listed in Section 27



“References”ofthisreport.Sectionsfromreportsauthoredbyotherconsultantsmayhavebeendirectlyquotedorsummarisedinthisreport,andaresoindicated,whereappropriate.

Itshouldbenotedthattheauthorshaverelieduponselectedportionsorexcerptsfrommaterialcontained in the following NI43-101 Technical Report, which is publicly available on SEDAR(www.sedar.com);AsianMineralResources LimitedNI43-101TechnicalReportBanPhucNickelProject Son La Province, S.R. Vietnam, prepared for AsianMineral Resources Limited dated 5thFebruary 2013 (as amended February 15 2013) Report No: R124-2013 (Bielin Shi, Ph.D.,MAusIMM,MAIG;GerryFahey,FAusIMM,MAIG;JohnWycheMAusIMM,CP;AndrewKinghorn,FSAIMM;PeterJLewis,FAusIMM;TomGibbons,FAusIMM.

The authors believe the basic assumptions contained in the information above are factual andaccurate, and the interpretations are fair and reasonable. The authors have relied on this dataandhavenoreasontobelieveanymaterialfactshavebeenwithheld.Theauthorsalsohavenoreason to doubt the reliability of the information used to evaluate the mineral resourcespresentedbelow.

2.3 Scope of Personal Inspections

DarrylMaplesonhas a long standing involvementwith theproperty datingback to 2003/2004;wherebyheco-managedthe2004infilldrillingprogramme.SubsequenttothishevisitedthesiteinJanuary2007,andmorerecentlyworkedattheoperationbetweenMay2014toAugust2015.

BenGrgurichas consulted toBPNMsince2013andhasundertaken reviewson theexplorationactivity and processes employed by the company. He visited the Ban Phuc mine and variousexplorationprospectsinNovember2014.

2.4 Terms of Reference

Unlessotherwisestated:

• Allunitsofmeasurementinthistechnicalreportaremetric

• Tonnagesarereportedasmetrictonnes(“t”)

• Thebasemetalvaluesnickel,copperandcobaltarereportedinweightpercentage(%)orpartspermillion(“ppm”)

• Preciousmetalvaluesarereportedingramspertonnes(“g/t”)or(“ppm”)

• Otherreferencestogeochemicalanalysisarereportedinppmorpartsperbillion(“ppb”)

Unlessotherwisestated,allmetalpricesareexpressedintermsofUSdollars(“$US)

ThreecoordinatessystemshavebeenusedontheProject.TheBanPhucMinelocalgridwasusedat theBanPhucundergroundmine.TheVN2000 (104.5) is theNationalgrid coordinate systemusedforgovernmentreportingandothersitebasedapplicationsincludingexploration.ThethirdsystemistheUTMcoordinatesystemWGS84(48N).MapsanddiagramsinthisreportareeitherintheUTMWGS84(48N),latitude/longitudeorthelocalminegrid.

3. RELIANCEONOTHEREXPERTS

BM Geological Services (BMGS) compiled this Report based on a review of reports andinformation supplied to it by BPNM. Neither BMGS nor its employees or contractors havebeneficialinterestinAsianMineralResourcesorBanPhucNickelMines,otherthantheprovision



of technical consulting services to BPNM. BMGS has assumed that all of the information andtechnicaldocumentsreviewedandlistedinSection27ofthisReportareaccurateandcompleteinall material aspects. BMGS has no reason not to rely upon such information and technicaldocuments.Assumptions,conditions,andqualificationsareassetforthinthebodyofthisreport.The information and conclusions contained herein are based on the information available toBMGSatthetimeofpreparationofthisReport.

BM Geological Services are not qualified to comment on issues related to legal agreements,royalties andpermittingmatters. The authors have reviewed themining and exploration titles,their status and the technical data supplied by the management of Asian Mineral ResourcesLimitedandtechnicalinformationinthepublicdomain.

4. PROPERTYDESCRIPTIONANDLOCATION

4.1 Location of Property

The Ta Khoa Concession is located 160 km west of Hanoi in Son La province, north-westernVietnam.CoordinatesoftheConcessionare21◦4’to21◦20’NLat.,104◦32’to104◦7.5’ELong.

4.2 Area of Property

TheTaKhoaConcessioniscoveredbytheForeignInvestmentLicence,522G/P,whichBanPhucNickelMinesJointVentureEnterprise(BPNMJVE)weregrantedonJanuary29th1993.Theoriginalareawas 600 Km2which has now been reduced to 150 Km2 due to statutory relinquishments.BPNM now operates under the current Investment Certificate No. 241022000033 which wasoriginallygrantedJuly30th2007bytheSonLaPeople’sCommittee.

AnewExploration Licence (1366/GP-BTNMT) wasgrantedon the10thof July2014byMONRE(MinistryofNaturalResourcesandEnvironment)coveringanareaof49.7Km2(Figure 2 ).TheTaKhoaconcessionlicenseconsistsof4non-contiguousblockscomprising3differentregions:TaHoc(12.98km2);TaKhoa(24.88km2)andHongNgai(11.84km2).Thelicencehasbeengrantedforaperiodoffouryears(48months)towhichaprescribedexploration,butnotlimitedto,mustbecompleted(Table 2 ).



Figure 2 Ta Khoa Concession licences

Table 2 Exploration works as part of commitment to newExplorationLicence(1366/GP-BTNMT)

# WorkItems Unit Quantity

I Geodesy

1 Primary-ordercontrolnetwork point 41

2 Secondary-ordercontrolnetwork km 50

3 Theodolitetraverse km 60

4 Levelingcontrolgrid(graded1) km 125

5 Levelingcontrolgrid(graded2) km 110

6 Topographicalmappingat1:2,000scale,h=2m. km2 17.27

7 Stakeoutandworkingscoordinatesupdate point 413

II Explorationwork

1 Geologicalmappingatscaleof1:25,000 km2 49.7

2 Geologicalmappingatscaleof1:2,000 km2 17.27

3 Explorationdrilling m 69,202

4 Trenching m3 6,600

III Geophysics

1 EMairbornesurveybasedonsetlines km 280

2 Magneticsurvey(T=100,d=20) point 7,783

3 GroundEMsurvey point 2,050

4 DownholeEMsurvey hole 36

IV Hydrogeological-geotechnicalsurveys

1 Hydrogeological-geotechnicalmappingatscaleof1:2,000 km2 17.27

2 Pumpingtest shift 345

3 After-pumpingwaterlevelmeasurement shift 135

V Sampling,samplepreparation,analysis

1 Sampling

1.1 Trenchsampling sample 1,320

1.2 Coresampling sample 17,128

1.3 Surfacewatersampling sample 74

1.4 Boreholewatersampling sample 60

1.5 Rocksamplingforphysio-mechanicalproperties sample 186

1.6 Soilsamplingforphysio-mechanicalproperties sample 78

1.7 Overburdengeochemicalsampling sample 15,055

1.8 Metallurgicalsampling sample 2



# WorkItems Unit Quantity

2 Samplepreparation sample

2.1 Thinsectionsamples sample 260

2.2 Polishedsectionsamples sample 235

2.3 Channelsamples sample 1,320

2.4 Coresamples sample 17,128

2.5 Geochemicalsamples sample 753

3 Sampleanalysis

3.1 Thinsectionsamples sample 260

3.2 Polishedsectionsamples sample 235

3.3 SGsamples sample 100

3.4 SamplesforICP(Ni,Cu,Co) sample 19,926

3.5 Silicatesamples sample 75

3.6 Radioactivesamples(U,Th) sample 66

3.7 Samplesforelectronmicroscopy sample 110

3.8 Wholewateranalysisforchemicalproperties sample 172

3.9 Micro-biologicalsample sample 6

3.10 Hazardousmicro-quantitysampleanalyzedforAsconcentration sample 6

3.11 Wholerockanalysisforphysio-chemicalproperties sample 186

3.12 Wholesoilanalysisforphysio-chemicalproperties sample 78

3.13 AAS(Ni,Cu,Pb,Zn) sample 753

3.14 Metallurgicalsample sample 2

3.15Samples to be analyzed for chemical properties includes 3-majorelement package (Ni, Cu, Co), 4-minor element package (Fe,Mg, S,As),PGEs(Au,Pd,Pt)andrareearthgroup

sample 48

VI Sum-upreport report 1

VII Others

Drill-pad pad 313

AMiningLicencefortheBanPhucmineareawasgrantedonthe17thofDecember2007whichcoversanareaapproximately7Haandincludestheorebody,portal,tailingsstoragefacility,mineinfrastructure,roadaccessandconcentrator(Figure 3 ).



Figure 3 Licence areas at the Ban Phuc operations

4.3 Tenure Agreements and Encumbrances

BPNMisanincorporatedjointventurecompanywhichisownedby:

AMRNickelLimited,awhollyownedsubsidiaryofAMR–90%,and

SonLaMechanicalEngineeringCompanyJointStockCompany(Coxama)ofSonLaProvince–10%.

In January 1993, BPNMwas granted Investment Licence (IL) 522/GPwith an initial term of 20years, giving exclusive rights for exploration and mining. After statutory relinquishments, theconcessionareahasnowbeenreducedto150km2coveringtheBanPhucdepositandadjacentexploration areas. BPNM is now operating under the current Investment Certificate No.241022000033,asamended.UnderthisInvestmentCertificate,BPNMislicensedtoaprojectareaof150km2.Withinthe150km2area,aseven-hectareMiningLicenseanda49.7km2ExplorationLicenceweregranted.The Investment Certificate contains provisions related to BPNM's status, capital and scope ofbusinessasanenterpriseandprovisionswhichareprojectspecific.Withinthefirstcategory,theInvestmentCertificateconfirmstheexistenceandstatusofBPNMasa limited liabilitycompany



headquarteredatMuongKhoacommune,BacYenDistrict,SonLaProvincewithachartercapitalthat has been contributed 90% by AMRN and 10% by Coxama and carrying on until 2043, thebusinessofexploringfornickel-copperoreandatBanPhuc,miningandprocessingnickel-copperore.Projectspecificprovisionsinclude:4.4 Environmental Liabilities

Therearenoenvironmentalliabilitiesknownatpresent.4.5 Other Operating Permits

Therearenootheroperatingpermitsrequiredforexploration. 4.6 Factors affecting access, title or ability to perform work on the property.

Therearenofactorsaffectingaccessorabilitytoworkontheproperty.

5. ACCESSIBILITY,CLIMATE,LOCALRESOURCES,INFRASTRUCTUREANDPHYSIOGRAPHY

5.1 Topography, Elevation and Vegetation

The project is located within rugged terrain of the mountainous areas in the north-west ofVietnam. The steep-sided Da River Valley traverses the region in a general south-easterlydirection.On the northern side, steepmountainous country rises to about 1,200mnearHongNgai.OnthesouthsideoftheDaRiversimilarmountainouscountryrisesto1,520m.

Secondorderstreamswithcatchmentsof20to200Km2drainnorthandsouthintotheDaRiverandcommonlyhavesmallalluvialflats intheir lowerreaches.ThirdandfourthorderstreamsinsteepV-shapedvalleysatcloseintervalsdrainintothesecondorderstreamsanddirectlyintotheDa River. This closely spaced drainage system results in steep slopes of 30º to 45º, which arefurtherexaggeratedinareasofcalcareousrocks,whereupstandingmassifsandkarsttopographyoccur,especiallyintheeastandsouthwest.

TwohydroelectricdamsaresituatedintheDaValley.TheSonLadamislocatedapproximately50kmupriverfromtheconfluenceofChenStreamwiththeDaRiver.TheotherdamatHoaBinhislocated approximately 130 km downstream from the confluence of Chen Stream with the DaRiver.Thedamsregulateflowsandthewaterlevelfluctuatesfromalowofabout104mRLintheearly tomiddlemonths of thewet season to a high of about 117mRL in the early tomiddlemonthsofthedryseason.

The topography in the actual project area ranges between steeply sloping hillswith elevationsbetween100and550mRLandnarrowvalleyswithfewflatareas.

TheProjectislocatedinmountainouscountry(

Figure 4 )thatcontainsareasofrelativelydegradedforestandlocalizedbambooanddeciduousforest. Remnant forest areas are under increasing pressure from hunting activities, shiftingcultivation and expanding settlement. Large areas of grassland, bamboo and other secondaryvegetationarealsopresent,particularlyonthelowerslopesandvalleys(Shietal,2013).

Threeforestcommunitieshavebeenidentifiedwithintheprojectarea:

• Re-growthsecondaryforest;



• Shrubinterpolatingtimber;and

• Bambooforest,thedominantecosystem.

Figure 4 Ta Khoa Project area overlooking Ban Phuc nickel Mine (looking

North)

5.2 Access to Property

Theprojectareaislocated160KmwestofHanoiintheprovinceofSonLa.AccesstothemineisviaasealedroadfromHanoiwhichisapproximately240Km;andisviaSonTay,ThanhSon,PhuYen,BacYenandTaKhoa.SonLa,thecapitalofSonLaprovince,isafurther35Kmnorthwestoftheprojectandisaccessedbyasealedroad.ThereisalocalairportatNaSan(nearSonLa)whichhasbeenclosedtopublicaccessandisnowutilisedbytheVietnamesemilitary.

5.3 Climate

ThereareessentiallytwoseasonswhichimpactonnorthernVietnam;adryseason(winter)whichiscoolandlastsfromOctobertoMarch;andawetseason(summer)whichextendsbetweenAprilandSeptemberwithoccasionaltyphoonevents.

ThemeteorologicaldatasummaryisbasedoninformationcollectedattheCoNoiweatherstation(January1964toDecember2004)located20kmsouth-westofBanPhucandtheProjectweatherstationwhichwasestablishedinJuly2004(Table 3 ).



Table 3 Climate information for the Ban Phuc district

Characteristic Unit DataDrySeason(October–March) Lowestrecordedtemperature ◦C 1Meantemperature ◦C 8Meanrelativehumidity % 79Lowestrelativehumidity % 76Maximumrecordedrainfall(Nov1983) mm/d 99Prevailingwindcondition NEAveragewindvelocity m/s 1Maximumwindvelocity m/s 20WetSeason(April–September) Highestrecordedtemperature ◦C 40Meantemperature ◦C 29Meanrelativehumidity % 83Lowestrelativehumidity % 79Maximumrecordedrainfall(September2008) mm/d 314Prevailingwinddirection SEAveragewindvelocity m/s 1Maximumwindvelocity m/s 30Annual Evaporation(meanannualtotal) mm 1,089Rainfall(meanannualtotal) mm 1,289

5.4 Infrastructure

5.4.1 Power Power issourcedfromthe localSonLaProvincialGovernmentPowerDepartmentwhichhavea35kilovoltpowertransmissionlinerunningwithin1Kmoftheminingoperation.A1Kmspurlinerunstoasubstationonsite.

5.4.2 Water WaterisdrawnfromtheChenStream(whichfeedsintotheDaRiver)fordustsuppressionontheroads servicing the mine, through the Ban Phuc village and in the camp. Drinking water isprovidedinbottlessuppliedbyCoxama.5.4.3 Ancillary TheProjectisconnectedtothenationalgridviaafibre-opticconnection.Thisprovidestelephone,facsimile links and broadband internet access. Internally, the camp and process plant site areconnectedwithwirelessLANcoverage.



Two-way radio communications are established with fixed, in-vehicle or hand-held unitsaccessibletoallpersonnel.

The camp is located 3 km from the Ban Phucmine site on the east bank of the Chen StreamdownstreamofitsconfluencewithDamCreek,onasitealreadyleasedbyBPNM.Thesiteis35mto 100 m wide and approximately 300 m long. Due to the limited area available, two storeyaccommodationblockshavebeenconstructed,withuptofiveroomsoneachlevel.Thisisinlinewithbuildingpracticesinthearea(Shietal,2013).

6. HISTORY

The discovery of a large, outcropping gossan zone at Ban Phuc containing secondary coppermineralisation istentativelyattributedtotheVichyFrenchoroccupyingJapanese in1945.EarlyexplorationworkwasconductedbyVietnamesegeologistswithRussianandChineseassistanceinthemid-1950'sandearly1960's,andwasinitiallyfocusedoncopper.In1956,Russiangeologistsidentified themassiveNi-Cu-sulphidebodyatBanPhucand in1963,withChineseassistance,amaiden resource was defined. Around this time (1959-1964) regional exploration programmesinvolving surface sampling, trenching, magnetic surveys, diamond drilling, driving of adits andsinkingof shafts resulted in thedefinitionofNi-Cu sulphidemineralisationat severaladditionalprospectswithinthecurrent50km2licencesuchasBanKhoa,BanChangandBanMong(Table 4 ).Drillcorefromthisperiodisnowlost,however,theexistingaditswithexposedmineralisationarestillaccessible.

Table 4 Summary of pre-1996 drilling and trenching activities on the current AMR license.DatafromAMR.

Prospect Drillholes# metres Trenches# metres

BanPhuc 53 12468.61 73 2088

BanChang 5 675.95 19 1034.4

BanKhoaSouth 10 1835.2 13 276.3

ThehistoricalmetalinventoryoftheBanPhucdepositbasedonthisearlyworkisgivenas119ktNi,40.5ktCuand3.4ktCo (TranVanTri,1995&LeVanDe,1995cited inGlotovetal.1991).Thereisnohistoricalproductionrecordedfromthelicencepackage.ThisMSVresourcehasbeendepletedbyrecent(2013–2016)miningactivities.

Following the establishment of AMR in 1993,modern exploration commencedwith a diamonddrill programme in December 1996. This and later exploration programmes are discussed inSection 9, below. The licence area prior to 1993was entirely owned and administered by theVietnamese Government. A total of 381 holes for 61 894m have been drilled on the Ta KhoaConcessionupto2016,sincethestartofrecords(310holesfor49743mintoBanPhuc).

AsianMineralResourcesLimitedwaslistedontheTSX-VinApril2004andcompletedadiamonddrillprogrammewiththeaimtodefineamineralresourceatBanPhuc.

ThefirstphaseofminingunderthesupervisionofAMRcommencedin2008.BoththeUpperandLowerPortal’swerecut;howeverdepressednickelpriceswiththeadventoftheglobalfinancialcrisisandsignificantdamageattributabletotheHagupitStormresultedinoperationsatBanPhucbeingsuspended.



Constructionoftheconcentratorrecommencedin2012andtheminewasbroughtintofullscaleproductionduring2013andcompletedmid2016.

7. GEOLOGICALSETTINGANDMINERALISATION

7.1 Regional and Tectonic Setting

ThecurrentAMRexplorationlicenseincorporatingtheBanPhucdepositandnearbyprospectsislocatedwithin theNW toSE-trendingSongDaRift ZoneofnorthernVietnam (Figure 5 ). TheSong Da Rift is amajor crustal suture zone between the Indochina and Yangtze (South China)Cratons.Thisfundamentalstructure,whichisconsideredtobeadextraltransform(Lepvrieretal.2008), continues north into China with a N-S trend (the Panxi Rift or Fault Zone), where it isassociated with a series of comparable magmatic Ni-Cu-PGE deposits e.g. Baimazhai,Qingquanshan,LimaheandYangliuping(Lightfoot&Evans-Lamswood2015)Table 5 .

The SongDaRift, bounded to the SWby the SongMa fault zone, is interpreted tobea classiccontinental rift dominated by a terrigenous and calcareous sedimentary succession to LowerTriassicage(Lepvrieretal.2008).Mafictoultramaficplutons,suchasthosehostingdisseminatedNi-CumineralisationinBanPhucandnearbyultramaficintrusions,arepresentmainlywithintheTaKhoaantiformaldome, andare considered co-magmaticwithextrusivemafic (basalt, picriteandkomatiitic)unitsmappedthereandelsewherewithintherift(e.g.theNaMuoiRiverbasin).TheextrusiveunitshavebeendatedasPermo-Triassic (257±24Ma,Polykovet al.; 270±20Ma,Hanskietal. 2004)andare considered to formpartof theEmeishanLarge IgneousProvince.Arecently published more precise age of 257±0.5 Ma is given in Lightfoot & Evans-Lamswood(2015) and is based on zircon age dating of gabbro from the upper part of the Ban Phucmineralisated intrusion (by Prof. Zhou of Hong Kong University; Dinh HuuMinh pers. comm.).Documented examples of Phanerozoic komatiites are rare elsewhere in the world, suggestinganomaloushigh-TconditionsexistedinthesourceregionsfortheSongDaultramafics.



Table 5 Physical characteristics for NiS and PGE deposits of southwestern China and northern Vietnam

Deposit PlutonCount Age PlutonGeometry Deposit

BanPhuc 1 257.8±0.5Ma* 1000m x 500m x (50m-

500m)

Massivesulphideissituatedexternal

toandatthebasalmarginofthe

pluton

Baimazhai 22 ~260Ma 530m x 190m x (24m –

64m)

Concentricwithhighestgrade(massive

sulphide)inthecore

Jinbaoshan 1 sill (fault

offset to be 2

entities)

260.6±3.5Ma 5km x 1km x (25m-

170m)

Sheetlike–PGErich,sulphidepoor.

Composedmainlyofwehrlite.

StrataformoccurrenceofPGE.

Zhubu ?1 261±2Ma 750m x (400m – 50m;

tapered)x500m

Concentricwithperidotite,but

mineralisationatthemarginofthe

intrusion.

Limahe ?1 263±3Ma Concentricwithperidotite,sulphide

bearingcoressurroundedby

pyroxeniteandgabbro.

Lengshuiqing 5 (200-400m)x(50-200m) TheNiSoreconcentratestowardsthe

basalposition.

Yangliuping 10 2000mx300m ThemassivesulphideNiS

mineralisationisrestrictedtothe

lowerpartsofthesill(s)



Figure 5 LocationoftheBanPhucprojectareainrelationtotheSongDaRiftandPanxiRiftinsouthernChina



7.2 Local Geology

TheAMRexploration licenses totaling50kms2areentirely locatedwithin theTaKhoaantiform(Figure 6 ),adomalfeaturewithintheSongDaRiftZone.Thecoreoftheantiformisdominatedby gneisses and schists of the Devonian Nam Sap Formation, which is mantled by calcareousschistsandmarblesoftheBanPhucbeds.TheBanPhucbedsformthewall-rockhostoftheBanPhucdeposit andappear tobea favourablehosthorizon formanyof themafic andultramaficintrusions anddykesmappedon thedome. Felsic pegmatites, quartz and calcite veins are alsopresentthroughouttheantiform.ThemarginsoftheTaKhoaantiformaldomeinthelicenceareaarerepresentedbyquartzites,phyllitesandmarblesoftheDevonianBanCaiFormation.ThecoreofthedomeistransectedbytheChimVan-CoMuongFault,interpretedtobeasinistralstrike-slipfault.

Figure 6 The geological map for the Ta Khoa antiform showing geological units, significant faults and Ni-Cu prospects.

TheLowertoMiddleDevonianNamSapFormation(Figure 6 andFigure 7 )includesthelowerTa Khoa Horizon (gneisses, coarse-grained mica schist and is locally garnet, cordierite andsillimanite-bearing), and theupperBanPhucHorizonorBanPhucbeds (mica schists,quartzite,calcareousschistsandmarble).

ThisisoverlainbytheUpperDevonianBanCaiFormationincludingthelowerBanMongHorizon(sericite schists,quartz-sericite schistsandquartzites)and theupperSapVietHorizon (phyllitesandthinly-beddedsericiteschists).

TheyoungestsedimentpackageinthelicenceareaistheLowerCarboniferousBanTangHorizon(grey, medium to thick bedded limestone, marl and grey siliceous limestone) of the Da NiengFormation.

As discussed in Section 7.1 above, the mafic and ultramafic units that cross-cut this meta-sedimentarypackageareconsideredPermo-TriassicinageandpartoftheEmeishanLIP.



Figure 7 Crosssectionshowingterrigenousandcalcareousmetasedimentaryunits intheTaKhoaantiform.Mafic/ultramaficintrusivesaremarkedindarkpurple.

7.3 Structure

Earlier published and unpublished studies on the Ban Phuc deposit and Ta Khoa antiform (e.g.Glotov et al. 2001 and Shi et al 2013) made little or no mention of any significant structuraloverprint.Examinationofoutcrop,undergroundexposuresanddiamonddrillcorebyMineraliumPty Ltd in 2014 highlighted the importance of the structural overprint and the likelihood thatsignificant physical remobilisation of primary sulphide mineralisation had occurred duringdeformation(Grguric2014).ThisledAMRtocommissionOrefindPtyLtdtoconductastructuralstudythe followingyear (DavisandCowan2015;CowanandDavis2015) inorder todefinethedeformationhistoryoftheTaKhoaanticline,andindicatepossiblevectorstoremobilisedmassivesulphide.

Orefind examined outcrop, underground exposures, diamond drill core and aeromagnetic andtopographic data and defined a deformation history comprising two events, D1 and D2, thatproduced ductile structures, followed by brittle fault overprints (Figure 8). They suggestedrecumbent F1 folds were produced during D1, which also involved significant extensionaccommodatedby lithological layering. TheD2event involved significant shortening, producingupright folds with NW-SE trending axial planes and variable NW and SE plunges. The Ta Khoaantiform inwhichBanPhuc is locatedwas interpreted tobeanF2 structure.D2ductile shearstypicallyaccommodated sinistralmovementandwere found togenerally trendNW-SE.Orefindposited that themassivesulphideveinatBanPhuc is locatedwithinaD2shearandhasclearly



been remobilisedandductiledeformed.Theynotedadjacent,earlier-formedquartz veinswereobservedtobebrecciatedandinfilledwithsulphide.

TheD2eventwas interpreted tobea significant contributor to thepervasive,NW-SE trending,structural grainevident in regionalgeophysicaldatasets. Severalpopulationsof intrusionswerenoted by Orefind, ranging from ultramafic (now mostly tremolite-altered), mafic and felsic(pegmatoidal) incomposition.MaficdykeswereinterpretedasstructurallyoldestandemplacedsolelyduringD1.Tremolite-alteredandfelsicdykesshowedtimingrelationshipsconsistentwithprotracted emplacement from D1 to D2, based on overprinting relationships with S1 and S2.GiventhattheultramaficandfelsicdykesstraddledD1andD2instructuralage,itwasconsideredlikely that these two events represent a continuum of a complexly evolving tectonic system.OrefindconsidereditpossiblethatthedykesofD2ageweresitedwithindeep-seatedstructuresassociatedwith earlier rifting/extension that hadbeen reactivatedduringD2 contraction. Theirindependent modelling of the regional structures in the dome confirmed the existence andorientation of the Chim Van CoMuong Fault, however, they could not identify two previouslyinterpretedfaultsinthewesternportionofthedome.

Figure8SummarizedstructuralhistoryoftheTaKhoaanticline(afterDavisandCowan2015).



7.4 Metamorphism

TotheauthorsknowledgeadetailedstudyofthemetamorphicisogradsintheTaKhoaantiformhas not been carried out, however, several pieces of petrological evidence suggest, at leastlocally,highgraderegionalmetamorphicoverprintinghasoccurredandthelikelihoodisthatthebulk of the dome has experienced at least low to medium grade overprinting. Sillimanite isreportedfromNapSapsedimentsinthecoreoftheTaKhoaanticlineawayfromigneouscontacts(DinhHuuMinh pers. comm.) suggesting peak temperatures in excess of 500°C. Bladed olivinetextures (now retrogressed to serpentine)within the Ban Phuc ultramafic body ( Figure 9) areindicative of prograde metamorphic deserpentinisation and the formation of metamorphicolivine, typically at amphibolite facies or higher temperature conditions (Evans& Trommsdorff1974).ThinultramaficdykesthroughouttheTaKhoaantiformarecommonlyextensivelyalteredto tremolite as a result of metasomatic transfer of calcium from calcareous wallrocks. Theultramafic origin of many of these tremolitic dykes is indicated by whole rock Cr contents inexcessof1000ppm.AMRnowroutinelyutilisehand-heldXRFunitstomeasureCrindykesduringfieldmappingprogrammes.

Figure9Type2triangulartextureddisseminatedsulphide(bronze)inblackbladedserpentiniteaftermetamorphicolivinefromtheUB2unit,BanPhucdisseminatedresource.Quartercoreis3cmwide.



7.5 Property Geology

The Ta Khoa Concession contains several Ni, Cu, Co ± PGE prospects (Refer Appendix 1 forprojectslist).TheonesincludedinthisreportareKingsnake,BanMong,SuoiPhang,BanChang,BanKhang,BanKhoaandBanPhucMSVextension.Theseprospects(withtheexceptionofBanKhoa) all havenickel gossansmapped at the surfacewhichhavebeen tracedby trenching andmapping that range from 50m up to several hundred metres long. Ban Khang is identicalgeologically toBanPhuc and is interpreted tohave the concessions’ largest buriedpluton. ThegeologyoftheindividualprospectsisdiscussedindetailinSection9.

8. DEPOSITTYPES

KnownmineralisationontheAMRlicenceholdingisofthreetypes:

1. Deformed massive and/or breccia Ni-Cu-Co (+PGE and Au) sulphides present as fill inveinsandshears.

2. Disseminatedtoblebbyortriangular-texturedNi-Cu-Cosulphides(+PGEandAu)hostedinserpentiniseddunitesandperidotites,andinsmallertremolite-alteredultramaficdykes.

3. SecondaryNi-Cu-Co(oxideandsilicate)mineralisationdevelopedintheweatheredzone.

8.1 Massive Sulphides

The massive sulphide vein (MSV) constituting the recently-mined Ban Phuc undergroundresource, is a body of Ni-Cu-Co (-PGE) sulphide hosted within a D2 shear Figure 10) and isconsideredtobemagmaticinoriginratherthanahydrothermalvein.Theveinis640minlength,withan invertedtriangularforminplan,andcontinuestoat least450mbelowsurfacewithanaveragewidthof1.26m.IthasaNWstrikeof280-310ºandasteepdipof70-90ºtotheNE,andlocally to the SW. Country rocks are hornfelsed Ban Phuc Horizon calcareous sediments andtremolite-altered ultramafics. Quartz vein material, typically brecciated and infilled withremobilisedsulphide isalsopresentwiththehostshear.Thesulphidebodyorvein itselfshowsevidenceofexhibitextremeattenuationandboudinage,withchangesinorientationandcommonbifurcation. Planar lenses are uncommon and the original continuity of the body has beendisruptedthroughextensionanddislocationonstructurescomprisingtheoverallD2shear(DavisandCowan2015).

The mineralogy of the MSV is typical of this style of mineralisation associated with mafic-ultramafic magmatic ore systems, and is dominated by pyrrhotite with lesser pentlandite andchalcopyrite. As is common in deformed and metamorphosed massive sulphide systems,chalcopyrite showsevidenceof greatermobilityand is commonlyprominent inwall-rockveins,breccia-fill, inclusionsanddisseminationsproximaltothemainoreposition.Otherminorphasespresent in the MSV are pyrite, magnetite, violarite and heazlewoodite. Accessory and tracephases include sphalerite, galena, cobaltite-gersdorffite series, hexastibiopanickelite, parkerite,tsumoite,breithauptite,sperryliteandmichenerite(Glotovetal.2001).

3-DmodellingofdrillholeandundergroundmappingdatabyCowanandDavis(2015)showedtheBanPhucMSVtobeincontactwiththeBanPhucintrusiononlyatasinglepointFigure11).ThiscontactwasmadeonlyataprotrusionoftheultramaficbodythatwasorientatedorthogonaltotheS2 fabric.Therewasnoevidence tosuggests that themassivesulphide is connected to theultramafic intrusion along a much wider contact zone, as would be perhaps the case if thesulphidebodywasphysicallyremobilisedfromaprimarybasalposition inthedunitebody.ThisobservationledtotheconclusionthattheBanPhucMSVisageneticallyseparatebodyfromthe



ultramafic intrusion and may represent a separate injection pulse of sulphide melt e.g. asproposedfortheKharaelakh,Talnakh(Norilsk)andOvoid(Voisey'sBay)depositsbyLightfoot&Evans-Lamswood(2015).

Figure 10 The Ban PhucMSV in an underground exposure shown flanked by deformed hostrocks.Photographedin2011(B.Grguric).



Figure 11 3-Dmodel showing relationship between themassive sulphide vein (yellow-greenplateseen insection)andtheBanPhucdunitic intrusion(aquaandpurple).FromCowanandDavis(2015).

Occurrences of massive and breccia sulphide are also present at other prospects in the AMRlicencearea,andwillbediscussedseparatelyinSection9.ThisstyleofmineralisationiscurrentlythehighestpriorityexplorationtargetforAMR.

8.2 Dunite / Peridotite Disseminated Sulphides

TheBanPhucintrusionisoneofthelargeroutcroppingultramaficbodiesintheSongDaRiftwithdimensionsof940mby220-420m,anoutcropareaof0.248km2andpreserveddepthofupto470mbelowsurface. Ithosts the largest resourceofdisseminatedNi-Cu-Co(-PGE)sulphides inthelicensearea(totaling20Mtat0.50%Niatat0.3%Nicut-off;Shietal.2013).Theintrusioniscomprised of serpentinised dunite/peridotite (with some gabbroic differentates in its upperparts),andiselongateandtrough-shapedwithanorthwesterlytrendcorrespondingtothestrikeoftheDevonianmetasedimentaryhostrocks. IthasintrudedalongthetrendofadiscontinuousunitofcalcareousBanPhucBeds.

DisseminatedNi-Cu-PGEsulphidemineralisationhostedintheintrusionoccursintwomainstyles:

1)Smallblebsintheintersticesofroundedformerolivinecrystals(nowserpentinised).



2) Triangular blebs in the interstices of jackstraw olivine crystals (now serpentinised;Figure5).Inthis,thestyleresemblesthatofthemainPerseverancedepositatLeinster,WesternAustraliawith,however,ahigherCucontent.

The Ni grade of the mineralisation is typically in the 0.5 to 1%, locally >2% and the sulphidemineralogyispredominantlypyrrhotite,pentlanditeandchalcopyrite.Theganguemineralogyofdisseminated sulphide mineralisation is dominated by black serpentine locally with somemagnesite-antigoritealteredzones.Concave,bowl-shapedlayeringintheintrusionisdefinedbylow-gradenickel-enrichedsulphidelayers,whichareconformablewiththebaseandwallsoftheintrusion. Inthewiderbasalzonepreservedat thenorthwesternendof the intrusion theseareflat lyingwithonlyminorconvexity,butinthesoutheasternsectionthelayersarestronglyconcave,extendingupthefootwallandhangingwallsoftheintrusion.3-DmodellingofdrillholeandundergroundmappingdatabyCowanandDavis(2015)indicatedthat the Ban Phuc intrusion contains at least onemajor fault, suggesting that it behaved in abrittle manner during deformation. This is consistent with significant serpentinisation notoccurring until the retrograde phase ofmetamorphism, beforewhich the olivine-rich lithologywouldhavebehavedinabrittle,competentmannerduringdeformation.Orefind'smodelledfaultis proximal to the Ban PhucMSV but does not displace it, consistent with the sulphide beinglocated within a less competent sedimentary sequence, or alternatively that the separateinjectionoftheMSVoccurredafterthebrittlefaultingofthedunitebody.Additionaldunite/peridotite-hosteddisseminatedmineralisationinasimilarsettingtothatoftheBanPhuc intrusionoccursat thenearbyBanKhoaprospect (1kmaway),whichhasahistoricaldrillholeintersectionof25mat0.8%Ni,including10mat1.16%Ni.

8.3 Dyke-hosted Disseminated Sulphides

Disseminatedsulphidetypemineralisationalsooccursinthetremolite-altereddykesandadjacentschists and hornfels, and forms a halo aroundmassive sulphide vein typemineralisation. Thismineralisation is interpreted to represent primary magmatic sulphides present in mafic andultramafic dykes that have been overprinted and remobilised on a local scale duringmetamorphism and fluid infiltration. The sulphide mineralogy in this setting is predominantlypyrrhotite,chalcopyrite,pentlandite,violariteandpyrite,andminormillerite,ilmenite,nickeline,galena,sphaleriteandvaleriite.

8.4 Secondary Ni-Cu Mineralisation

Nearsurface,secondaryoxideandsilicateNi-Cumineralisationandpresentinthelicenseholdingtodepthsof10-40mfromsurface,mainlyintheoxidezoneoftheoutcroppingMSVgossanzoneand the adjacent Ban Phuc intrusion. As the existing plant is not designed to processoxide/lateriteores,thisstyleofmineralisationisnotanexplorationfocus.GivencurrentNipricesandthedistanceoftheprojectfromseaports,thesmalltonnageandmodestNigrademakeBanPhucoxideoresanunlikelyeconomicproposition.



9. EXPLORATION

Exploration programmes (additional to the historical Vietnamese, Chinese and Russian work)discussedbelowrefermainly toprogrammesconductedonnear-mineandgreenfieldprospectsratherthanresource-relateddrillprogrammesfocusingonthedetaileddefinitionoftheBanPhucMSVforminedesignpurposes.ThelatterarediscussedindetailbyShietal,2013intheNI43-101report number R124.2013. The location of important exploration prospects discussed in thefollowing section is shown in below. These represent only a subset of the total number ofexplorationprospectsonthecurrentlicenceholdingandsummarydataofremainingprospectsisgiveninAppendix1.AMRhaveIdentified26Ni-Cu-Co(+PGE)prospectsonlicenceareaandtheseinternallyrankedonthebasismaturityandaseriesofprospectivitycriteria.

9.1 Exploration Campaigns

9.1.1 1996 AMR Programme Following its inception in1993,AMRcompletedadrillprogramatBanPhuc inDecember1996comprising11drillholesforatotalof1220m.Theprimaryobjectivewastoestablishcontinuityof mineralisation within the previously identified MSV and further investigate nickel-coppermineralisation within the Ban Phuc dunite intrusion. Thus this campaign wasmainly part of aresource/reserve programme rather than extensional or greenfields exploration. Drilling of theBan Phuc dunite intrusion confirmed the presence of two separate disseminated sulphidehorizons.

9.1.2 1999-2002 Falconbridge Programme Falconbridge-financed work completed between February 1999 and February 2002 included a4100 line-km magnetic-electromagnetic, helicopter-borne survey and five grid-controlledmagnetic/UTEMsurveys,totalling175-linekmontheBanPhuc,BanTang,HongNgai,BanNguon,and Ban Mong prospects. Based primarily on electromagnetic anomalies (in particular UTEMconductors), some of which were closely associated with distinct magnetic features, sixteentargetswere defined and designated for diamond drilling. Falconbridge carried out two drillingprogrammes.Thefirstwasundertakeninthe2000/2001-fieldseason(16drillholesfor3800m)andthesecondinthe2001/2002-fieldseason(13drillholesfor4100m).Prospectingworkdonein conjunction with the geophysical program located new areas hosting significant Ni-Cu-PGEmineralisation,anotableexamplebeingKingsnake.



9.1.1 2002 – 2016 AMR Programmes

Figure12LocationofAMRmagmaticNI-Cu-PGEprospectsoverlaidongeology.Maphasbeenrotatedforclarity.AMRimage.

Campaignsofexplorationdrilling,surfaceanddown-holeEMsurveyswereconductedduringthe2002-2016periodbyAMR,beforeandafterthecommencementofminingactivitiesatBanPhuc.These campaignswere predominantly conducted under the field and datamanagement of BM



Geological Services Pty Ltd (“BMGS”) in collaboration with AMR in-country geological staff.Concurrentwiththesecampaigns,AMRconductedanongoingprogrammeofrockchipsampling,trenching,mapping andmore recently hand-held XRF (Niton) analysis of gossan and tremolite-dykeoutcropsandfloat.ThisworkwasconductedbyanAMR in-country team ledbyDinhHuuMinh.From2014to2016AMRperiodicallyutilisedexternalconsultantsadditionaltoBMGS(e.g.Mineralium Pty Ltd, Orefind Pty Ltd and Touchstone Geophysics Pty Ltd) for exploration datacollection,dataprocessingandpeerreview.

9.2 Exploration Prospects

9.2.1 Kingsnake KingsnakeisthemostadvancedprospectoutsideoftheBanPhucmineareaandislocated1.5kmNE of themine.MSV and high grade brecciatedNi-Cu-Co-PGE sulphides/gossan are associatedwith tremolite-alteredmafic-ultramafic rock inashearedexposureofcalcareoussedimentsandquartz-mica schists of the Ban Phuc Horizon inWaterfall Creek (Figure 13). The prospect wasdiscoveredbyFalconbridge in1999whenaheliborneEMandmagneticsurveywasfollowedupwithaUTEMgroundsurvey.Gossanwasidentifiedwhenaroadaccesscuttingwasmadeforthelattersurveyduringthe1999-2000fieldseason.Approximately50rockchipsampleshavebeenassayedfromsurfaceexposuresyieldingresultsofupto4.1%nickeland20g/tPGE’s.

Figure 13 Kingsnake outcropping partly-oxidised breccia/massive sulphide and tremolitealteredmafic/ultramaficexposedinWaterfallCreek.AMRphoto.

Atotalof23drillholesfor5187metres,alldiamonddrillholes,havetargetedgeophysicalUTEMtargets at the King Snake prospect. Most of this work was carried out by Falconbridge withadditionaldrillingbyAMR in2005 (5holes for729.1m)andagain in2007 (2holes for170.8m).



Basedontheexistingdrilling,theknownbodyofmineralisationatKingsnake isestimatedtobe600mlong,0.2to3.0mthickandaveraging1.79%Ni,0.7%Cuand1.14ppmPGE(

Figure14).The lensofmassivesulphidestrikes095⁰anddips75⁰totheSandhasameantruewidth of 0.62 m. Significant drill intercepts are given in Table 6 Significant dril l hole intercepts at Kingsnakebelow,andalongsectionisshowninFigure15.TheoccurrenceofthismineralisationinthebaseofaV-shapedvalley,andstrikingparalleltothecreeksystemprobablyindicatesasignificantshear/faultcontrolwitherosionfocusedonthiszoneofweaknesswiththe inferencebeingthat themineralisation is remobilisedalongthisstructure(Mapleson and Smalley 2014a). This structure does appear to align with the EM anomalyidentifiedattheBanKhoa intrusionandis interpretedtobeasplayoffthe regionallyextensiveChimVan–CoMuongfaultsystem.TheprospectwasexaminedbyOrefind in2015whofoundkinematic indicators in adjacent sedimentary rocks indicatingaccommodationof sinistral shear.Themetasediments also displayed intense folding and local disruption along zones of high D2strain(DavisandCowan2015).

Figure14Kingsnakegeology,drillholeandrockchipresults(AMRimage).



Table 6 Significant dril l hole intercepts at Kingsnake

Figure15Kingsnakelongsection(afterMaplesonandSmalley2014).

Atotalof3715soilsampleswerecollectedandanalysedattheKingSnakeprospectin2011-2012using a handheld XRF unit. A narrow zone of Cu anomalism corresponds with the position ofmineralisationidentifiedinthedrillingdataset(MaplesonandSmalley2014a).Recentmappingofsurfaceoutcrophasresultedinthediscoveryofasecondsurfacegossan(1.5mwide@ 6.7%Ni) in the creek aswell as a change in interpreted geometry (Minh and Spencer



2015).Itwasdiscoveredthatthenewly-discoveredgossandipstothenorth(atleastintheareaswhere it outcrops). All previous drilling was designed to intersect a south-dipping mineralisedzoneandsoAMRconsiderthatpotentiallythisdrillinghasnotintersectedthemainstructure,butinstead intersectedseveralsmallersubsidiary ‘stringer’ typestructures.AMRconsiderthenorthdipsignificantlyupgradesthistargetasitmeansthestructureisparalleltotheregionalstrainfield(S2),andanalogoustoBanPhuc.ThestrikeextensionofKingsnake,namedKingsnakeWestprospect(Figure16),wasthesubjectofaFLTEMsurveyin2015(Mutton2015a)followedbytwodiamonddrillholesin2016designedtotestsmall,highlyconductivebodiesmodelledwithintheinterpretedKingsnakeshear.TheFLTEM(fixedloop)surveyisproblematicinthistypeofterrain(mineralisationislocatedinasteepvalley)due to poor coupling affecting the accuracy of results. Future TEM surveywill involveMLTEM(moving loop). Twodrill holes (totalling446.1m)were completed to test the conductivebodiesand to tryand firmup thegeometry (given the inexactnatureof theFLTEMresults), however,onlytheoneholeKS16-02intersectedmineralisation,intheformofdisseminatedsulphides(1.2mat0.23%Niand0.04%Cu)inatremolite-altereddyke.DownholeEMisearmarkedforthesedrillholes.Kingsnakeremainsopenatdepthandtothewest.

Figure 16 Long section showing the newly-discovered Kingsnake West (left) extension ofKingsnake(redzone).AMRimage.

9.2.2 Ban Chang

TheBanChangprospect(insomedocumentsreferredtoasBanTrang)islocated2.5kmSEoftheBan Phuc deposit adjacent to the Chim Van – Co Muong fault system. The prospect geologyconsistsofatremoliticdykeswarmwithinphyllites,sericiteschistsandquartzitesoftheDevonianBan Cai Formation (Figure 17). The known mineralization style is mainly veins and lenses ofmassivesulphideaswellasdisseminatedsulphidehostedwithintremolitedykes.Thedykeswarmis approximately 900m long, and varies between 5m and 60mwide. The dykes andmassivesulphide are interpreted to be hosted within a splay (and subsidiary structures) off themajorregionalChimVan–CoMuongfaultsystem.



Two MSV-bearing zones are interpreted to be present, the West Zone and the Central ZonedefinedbycoincidentNi-Cusoilanomalies.TheWestZone isa420m longzoneof interpretedbifurcatingMSVlenses.ThiszonestrikesNW-SEanddipsmoderatelytotheSW.TheCentralZoneisconsistentinstrikeanddipwiththeWestZone,however,thedipofthiszoneisinterpretedtobeshallow(~20°).Thiszoneisdefinedbyaweatheredgossanwhichis200mlongandupto1.4mwideandcontaining0.18-0.27%Niand1.29-1.38%Cu.The prospect area was historically mapped and trench sampled (19 trenches) by Vietnamesegeologistsinthe1960-63period.Duringthistime2adits(Figure18HistoricaladitatBanChang(AMRimage).)and5drillholeswerecompleted.Thelargestintersectionobtainedinthisperiodwas in Adit Level 13 which intersected patchy zones of weak nickel-copper mineralization.Channelsamplesincluded3.9mat1.07%Niand0.95%Cuincluding1.1mat1.62%Niand1.48%Cu(Figure19LevelplanshowinghistoricalchannelsampleresultsfromtheLevel13aditatBanChang.).Fouroffiveholes(totalling675.9m)failedtointersecttheultramafic,indicatingthatthetremolite-alteredunitmaynothaveasignificantdepthextension.Theultramaficwasthereforeinterpreted to be a tightly folded sill. Drill hole BLK 4 intersected a zone of 1.7m at 1.89%Ni0.91%Cufrom62.9m.DrillholeBLK2intersecteda1mwidemassivesulphideveinwithinschistgrading2.65%Niand1.07%Cufrom58.5mdownhole.

Figure 17 Ban Chang geology, drillhole and rockchip results (AMR image).



Figure18HistoricaladitatBanChang(AMRimage).In 1995 and again in 1999, airborne geophysical surveys were carried out over the Ta KhoaConcession, which was issued in 1993 under Foreign Investment Licence 522/GP to Ban PhucNickel Mines J.V Limited (Bates 2003). The 1999 airborne geophysical survey resulted in thedefinitionoftwostrongandseveralmoderateEManomalies.Asthesecoincidedwiththemarginsof magnetic anomalies, and mafic and ultramafic rocks were known in the area, a grid wasestablishedandagroundmagnetic,UTEMsurveyandgeologicalmappingcompleted.TheUTEMsurvey defined themajor anomaly as a 1200m long shallow-dipping conductor near the basalcontactofathicksequenceofsills.

FLTEM was conducted over Ban Chang in 2008 (Mortimer 2008). Two moderate, extensivebedrock conductors (BT1_C1 andBT3_C1)were delineated in the datasets. These twobedrockconductorsweresituatedadjacenttoand immediatelyalongstrike fromoneanotherandwereconsideredlikelytobeequivalentstratigraphicunits.Modelledconductorsweredefinedtohaveweakconductancevaluesof~200-250S.Mortimer(2008)consideredthemunlikelytobedefinedbedrockconductorsare related towell-developedsulphidesources.Follow-updrill testing (drillholes BC08-01 and -02) in 2008 for a total of 703 m intersected tremolite dykes within thesedimentarypackage,butnosignificantmineralisation(Figure20).



Figure 19 Level plan showing historical channel sample results from the Level 13 adit at BanChang.



Figure20CrosssectionshowingdiamonddrillholeBC08-01andhistoricVietnamesedrillholesatBanChang.AMRimage.

Recentmagnetic inversionwork (Mutton2015b)hashighlighted thepotentialofa largeburiedintrusiveproximaltothistarget.AllsignificantinterceptsaredescribedinAppendix2

9.2.3 Suoi PhangThe Suoi Phang prospect is located at the extremewest end of the licence area and is hostedwithinDevonianmetasedimentsoftheBanMongFormation.Massivesulphidewasexposedina



historicaladit,anda twogossanswereexposed inhistoricalandrecent trenching (assaysup to5.9%Ni).Thenortherngossanmeasures120minstrikelengthandthesouthpartofthegossanis100mlongtodate.Thinmaficdykesaremappedinnearsurfacetrenches(Figure21andFigure22Figure22),however,reviewofthemagneticdatashowsnoevidenceofasignificantmagneticbody at depth (Mutton 2015c). No modern surface EM surveying has been conducted on theprospect.In2014,AMRcompletedaseriesoffourshortdiamonddrillholes(SP14-01toSP14-04)foratotalof 250 m, targeting massive sulphide. Drill holes SP14-01 to SP14-03 failed to intersect anysignificant mineralisation, while hole SP14-04 intersected a 1.5 metre interval of brecciatedmassivesulphideyielding1.79%Niand0.3%Cufrom23m(Figure23andFigure24).DownholeEMwasconductedonthedrillholes(Mutton2014a)andshowedalloftheconductorsdetectedtobehighlyconductivebutsmall,andmostwerelocatedimmediatelybelowthegossanmappedatsurface.OneortwosmallhighlyconductivebodiesweredetectednearSP14-02andSP14-03whichappearedtobeoffsetfromtheoutcroppinggossan.AllsignificantinterceptsaredescribedinAppendix2.In 2015, the prospect was examined by structural geologists from Orefind Pty Ltd (Davis andCowen 2015) together with core from diamond hole SP14-04. Orefind concluded that themineralisationhadprobablybeendisplacedbybothD2dextral,NE-side-upshearingandpost-D2dextral, SE-side-down faultswith a lowplungingmovement vector and unknowndisplacementmagnitude,basedonexposedinoutcropsinanearbycreek.



Figure21MappedgeologyoftheSuoiPhangprospect(AMRimage)



Figure22MappedgeologyoftheSuoiPhangmassivesulphideveinwithdrill intercepts(AMRimage)



Figure 23 Brecciated massive sulphide from diamond hole SP14-04, Suoi Phang. Image fromDavisandCowan(2015).



Figure24CrosssectionshowingdrillholeSP14-04atSuoiPhang(AMRimage). 9.2.4 Ban MongTheBanMongprospectislocated1.2kmSalongstrikeoftheSuoiPhangprospectandishostedin thesameBanMongFormationquartzites, locally interbeddedwithsericiteschists,whicharesteeplyfoldedandNE-trendingintheprospectarea.Atremolitedykeswarmispresentwhichisapproximately1.4kmlongandvariesbetween5mand50mwide.Thisisassociatedwithveinsand lenses of massive sulphide as well as disseminated sulphide within the tremolite-alteredultramafic dykes (Figure 25). Massive sulphide mineralisation was exposed in trenches and acreek exposure, and assayed up to 6.11% Ni with locally high PGE contents (up to 46 ppmPt+Pd+Au).TheMSVandweatheredgossanstracedatBanMongmeasure:50mofstrikelengthfor thewestern lens; 250m for the centre lens and; 85m for the eastern lens (Figure 25). BanMong is consideredanalogous toSuoiPhang structurally, in that, theMSV in interpreted tobehostedwithinashearzone.Drillingcompletedin2009consistedof5diamondholesfor204.3m(BM09-01toBM09-05).DrillholeBM09-01completedto32.1m,intersected0.5mofmassivesulphideassaying4.61%Ni,1.2%Cuand4.33ppmPt+Pd+Au(Figure26).BM09-02drilledonthesamesectionintersected0.3mofstringer sulphides assaying 0.47%Ni, 0.8%Cu and 5.96 ppmPt+Pd+Au. The intersectionswereconsistent with down-dip continuation of the known surface exposures of mineralisation. Theotherthreedrillholesdidnot intersectmineralisation.Allsignificant interceptsaredescribed inAppendix2.



Low level helicopter EM and magnetic surveying conducted in 1999 yielded no significantanomalies over the prospect. Fixed-loop TEM conductedbyAusthaiGeophysical Consultants in2010 yielded a well-defined, mid-time anomaly (BM1) essentially corresponding to the knownmineralisation at Ban Mong. The short wavelength of the anomaly suggests the associatedconductor is fairly limited in size or has a discontinuity. Modelling of the conductor yielded arelativelyshallowplate(~90mdepthtotop),limitedinsize(~160x13m),dippingsteeplytotheSWwithamoderateconductance(~550-730S).Duetothedifficult terrain(mountainouswithsteep valleys in which the mineralisation lies), coupling is difficult with FLTEM and so AMRgeological staff, under geophysical consultant advice (pers comm P. Mutton of TouchstoneGeophysics,2015)haveproposednewgeophysicalsurveyingusingMLTEM(movingloop).

Figure25GeologyandsurfacerockchipandtrenchsamplingresultsfortheBanMongProspect



Figure26CrosssectionshowingdrillholesBM09-01and-02atBanMong.

9.2.1 Ban KhangTheBanKhangprospectislocatedapproximately6kmNWofBanPhucandishostedintheBanPhuc Horizon adjacent to the Chim Van Co Muong Fault (Figure 27). The prospect has beencoveredbyanairborneheli-magnetic/electromagneticsurvey.Adiscretemagneticanomalywasidentified, consistent with a mafic or ultramafic body at depth. A follow-up soil geochemicalsurvey yielded Ni and Cu in anomalism generally matching the outline of the interpreted BanKhangintrusion.BothelementsweremoreenrichedintheSEportionoftheintrusion.A conventional FLTEMsurveywas completedat theBanKhang in2010byAusthaiGeophysicalConsultants on behalf of AMR. Two bedrock conductors were identified. The first conductor(BKH1)isa1.1kmlong,strongearly-tolate-timeFLTEManomalythatremainsopentotheNWandSE(Figure28).Thesecondconductor(BKH2)isadiscreteandstrongmid-tolate-timeFLTEM



anomaly. The anomaly extends for about 300mand is located immediatelyNNWof theBKH1conductor.Modelling of themid- and late-time response was achieved with a good fit to theobserveddatasignature.Overall,themodelledconductiveplate(MLP3)isoflimitedextent,dipssteeply to the NE and has a low conductance (Speyers, 2010). The results of the 2010 FLTEMsurvey was reviewed in 2014 by Paul Mutton of Touchstone Geophysics (Mutton, 2014b). Henoted that thenoise to signal ratiowereveryhigh,withnegative implications for thedepthofdetectionandthedetectionofsmallerandhighconductivitytargets.Aseriesof trenches20 trenches fora totalof722mwascompletedatBanKhang in2016andresultedinthediscoveryofa130mstrikeofgossanassaying0.48%Niand0.54%Cu,adjacenttothemappedultramaficbody (Figure22).Tremolitedykesexposednear surfaceand in trenchesyielded disseminated sulphide mineralisation assaying up to 0.48% Ni and 0.29% Cu in grabsamples.ExaminationofoutcroppingsedimentsandtremolitedykeswasundertakenbyOrefindin 2015, who noted that the sediments were highly strained (D2 event) and locally mylonitic(DavisandCowan2015).Suchastructuralsettingisconducivetoremobilisationofanyassociatedmassive sulphide mineralisation. No drilling has been conducted at Ban Khang to date. AllsignificantinterceptsaredescribedinAppendix2.



Figure27BanKhangsurfacegeology,interpretedultramaficboundaryandlocationoftrenches(AMRimage).



Figure 28 Location of Ban Khang EM anomalies in relation to interpreted geology (afterMaplesonandSmalley,2014b). 9.2.2 Ban KhoaTheBanKhoaprospect is centredonanultramaficbodyadjacent to theChimVan -CoMuongFault0.5kmEofBanPhucvillageand1.5kmNoftheBanPhucdeposit.Thesurfaceexpressionofthebody (interpreted tobe300metrewide sill,whichhas intruded into fine-grainedBanPhucsediments; Figure 29) was defined by a 0.03-0.10% nickel anomaly in soil and a 300-gammamagneticanomaly (Leighton,2003). Thesedimentshaveundergonemetamorphismtoabiotitehornfels and a pegmatite dyke swarmhas also intruded the hornfels immediately north of thedunite.Thehornfelsandintrusivesformasyncline,withthefoldaxisstriking120ºandplunging30-40ºtotheSE.Tremolitedykesareexposednearsurface.



EarlyworkconductedbyVietnamesegeologistsconsistedof13trenches,asingle100mlongaditand50drillholes,mostvery short, fora totalof2338m.Severalholespenetrateda90-150mthick, synclinally-folded and nickeliferous dunite sill, containing sub-parallel layers of nickel-enrichedultramafic (Figure30).Thesecumulate layersare thickerandmoreabundantnear thebaseofthesill,withshallowlayersalongthenorthernflankofthedunite.TheBanKhoaduniteaveraged0.15-0.20%nickelacrosstheentire90-150mthicksection.Thebestintersectionswerein cumulate layers encountered at the base of the dunite, with 25 m grading 0.80% nickel,including 10 metres of 1.16% nickel as disseminated sulphides in drill hole BK02 (Figure 25;SmalleyandMapleson2014c).Copperandcobaltare low,averaging700-800ppmCuand100-200ppmCo,althoughlocallycoppervalueslocallyreached0.2-0.3%.A 2010 fixed-loop electromagnetic survey identified a significant, long and strong, early to latetimeanomaly(BK1;Speyers,2010;Figure29)about1kmtotheSEistheKingSnakeattenuatedand nickeliferous massive sulphide mineralisation and this indicates a potential prospectivecorridorbetweenBanKhoaandKingsnake.TheBK1anomalyisastrongearlytolatetimeFLTEManomaly,ofsignificantarealsize(>800x>500m),dippingmoderatetosteeplytotheNNE.Ithasalowmodelledconductance(~60-150S),however,theconductanceissuspectedtobealothigherbut interpretation of the model is limited due to high noise levels (Speyers, 2010). The BK1anomalyremainopentotheSEduetothelimitationsofthesurveycoverage.

Soilsamplingconductedin2012resultedinatotalof1450soilsamplestakenatintervalsof50mx10m(Figure31).SamplesweretakenfromtheBsoilhorizon,andthenanalysedforNiandCubyNitonhandheldXRF.TheresultsdeterminedthatNiandCuanomaliesweregenerallycoincidentwith exposures of the Ban Khoa intrusion, however, the anomalies (particularly Cu) persisteddown-slopebeyondtheintrusion(SmalleyandMapleson2014c).Nomodern drilling has been completed at Ban Khoa. All significant intercepts are described inAppendix2.



Figure29Geologicalmap for theBanKhoa intrusion (largepurple shape). Also shown is themodelled outcrop location for the BK-1 electromagnetic anomaly identified by SouthernGeoscience(afterSpeyers,2010).



Figure30IntepretedcrosssectionofBanKhoabasedinearlyVietnamesedrilling.AMRimage.



Figure31Cuanomalies insoilatBanKhoa.The intrusion isshadedpurple.FromSmalleyandMapleson(2014c).



9.2.3 Ban Phuc MSV ExtensionsPossiblecontinuationsoftheBanPhucMSVorebodybothatdepthandalongstrikewereakeyfocusofbrownfieldexplorationover the2014-2015period.Thiscampaign involvedsurfaceEM,diamond drilling, down hole EM and a structural review of possible remobilisation vectors byOrefindPtyLtd.In2014,aseriesof6diamonddrillholes (BP14-01to -06)wascompleted fora totalof2500m,designed to test for down-dip and along-strike extensions of the known MSV (Figure 32;Mapleson 2014a & 2014b). Drill holes BP14-01 to BP14-04 targeted the westerly plunge ofmineralisation but failed to intersect any economic intervals of mineralisation. The two holesBP14-05 and BP14-06 targeted an easterly plunge ofmineralisation, but failed to intersect anyeconomicintervalsofmineralisation.DrillholeBP14-06(Figure33)wasexaminedbyGrguric(2014)andDavisandCowan(2015)andcontainedasmallintersectionofstringerandbrecciasulphidemineralisationat415mdownhole([email protected]%Niand0.3%Cu).Whilenotofeconomicwidthandgrade,itwasinterpretedthat the structural corridor hosting the massive sulphide mineralisation was intersected. Thepierce-pointwasassociatedwithazoneof intenseductilestrainthroughtobrittlenon-cohesivecataclasite, consistent with a significant structure i.e. one that would be associated withremobilisation of massive sulphide on the scale of hundreds of metres. BMGS indicated thatsimilarstructureswerefoundintheother2014drillholes.Basedontheir3Dmodellingandexaminationofthe2014drillholes,itwasOrefind’sopinionthattheMSVhasbeendislocatedbytwogenerationsofstructures,syn-D2andpost-D2,andthat2014drillingintersectedthevolumefromwhichthemineralisationhadbeenremovedi.e.the‘end’ofknown mineralisation is likely not a primary feature. Rather, they suggested, the deepercontinuationofmineralisationhasbeenstructurallydisplaced.

Themagnitudeofthedisplacementisunknownbutappearstobeoutoftherangeofdown-holeEMmethodusedtodatei.e.oftheorderof~100mormorefromtheholes.Alternatively,Orefindsuggested, the mineralisation may be closer than this but the modelled orientation for themassive sulphide may have been incorrect. Rotation of the sulphide horizon from its steeporientationinundergrounddevelopmentispossible,giventhat:

(a) Massive sulphide lenses show marked changes in shape, thickness and orientation inundergrounddevelopment.(b) The D2 shear encompassing the massive sulphide comprises a network of anastomosingshears of variable strike, andmany of these slip independently of adjacent component shears,whichisaccommodatedalongvariableplungingmovementvectors.(c)HostrocksdisplaystrongvariationintheplungeofF2folds,attestingtothestrongcomponentofrotationinrocksexhibitinghighD2strain.DownholeEMwasconductedonthe2014drillholesbutdidnotresultintheidentificationofanysignificant off-hole conductors aside from the known Ban Phuc MSV (Mapleson 2014a). AMRgeologists engaged Touchstone Geophysics to reassess the DHEM models in the light of the



possibilitythatremobilisedsulphidemightnotbeinthesameorientationastheknownMSV(i.e.apossibilityproposedbyOrefind).Mutton(2015d)concludedthatifaconductorwasdippingatlessthanabout55degreestotheS,itisunlikelytohavebeenenergisedsufficientlytohavebeenidentified in the 2014 DHEM surveys. If the dip was greater than about 60-70 degrees, theanomalyshouldhavebeenidentifiableinthesurveydata.

Figure 32 Collar positions of 2014 Ban Phuc extensional drilling on geology and topography.AfterMapleson(2014b).



Figure33Section50,000EBanPhucshowingdrilltraceforBP14-06.AfterMapleson(2014b).

In2015, fourdiamonddrillholes fora totalof1,077metresweredrilledbelowthebaseof theknownBanPhucMSVfromtheexistingundergroundworkings(Figure34).TwoholesgeneratedEM targets and a significant intercept was generated including 0.8m @4.8% Ni and 0.3m @



6.3%Niand1.4%[email protected]%Ni(BPUG15-05).Thesedrillholesweredrilled opposed to conventional downhole geometries to test for south-dipping (rather thannorth-dipping)mineralization.Mappinginthelowerlevelsoftheminehadindicatedthatthedipwasnotconsistentandrangedfrom45°Nto60°Slocally.The2015drillresults,combinedwithpreviousdepth intercepts indicate thatmineralisationdoes continueatdepthbut that, at leastdirectlyunderneathcurrentworkings,extentsmaybeconstrainedbyeitherattenuationcausedbydeformationorlateralmovementoftheMSVresultinginlarge,detachedslicesdisplacedfromthemainorebody.

In2015,6shallowdiamonddrillholesholeincludingoneEMplatformdrillhole(totaling1159m)were drilled into a previously untested potential easterly extension of the Ban Phuc MSVextensionknownasBanPhucEast(Figure35).Thedrillingproducednosignificantintercepts.

Figure34BanPhucDeepslongsectionshowingzoneofdisplacedMSV(AMRimage).



Figure 35 Ban Phuc East long section showing drilling 2015 hole pierce point locations (AMRimage).

10. DRILLING

AlldrillingconductedontheTaKhoaconcessionhasbeenconductedutilisingadiamonddrillrigsourced locally (a Government run drilling branch of the Vietnamese ‘geological surveyequivalent’calledIntergeo).

10.1 Survey System

Threecoordinates systemsare inuseon theTaKhoaconcession. TheBanPhucmine localgridwasusedintheundergroundmineandall facesampledata iscollected inthisgridsystem.TheVN2000(104.5)istheNationalgridcoordinatesystemusedforgovernmentreportingandothersite-basedapplicationssuchasexploration.



External consultants have been encouraged to use the coordinate system WGS 84 (48N).Historically,threeotherco-ordinatesystemshavebeenused(VN2000(105,6degrees),BanPhuclocal grid and Indian/Thai/Viet (105, 6 degrees)) but for varying reasons these are have beendiscontinued.

Coordinatesusedtotransformfromonegridtoanotheristabulated.ThepointsusedaretheNWcornerandSEcorneroftheTaKhoaConcession.

Table 7 Transformation data for Grid Systems employed at Ban Phuc

CoordinateSystem

WGS84(48N) Vn2000(104.5) BanPhucMinegrid

Point1(X) 413,367.06 465,011.00 28,105.60

Point1(Y) 2,359,300.00 2,359,922.59 88,628.00

Point1(Z) 500.00 500.00 1,500.00

Point2(X) 447,776.35 499,516.20 70,535.90

Point2(Y) 2,331,483.76 2,332,208.49 76,047.92

Point2(Z) 500.00 500.00 1,500.00

The definition that defines the spheroid of VN2000 (104.5) relative to the WGS84 (48N) isdescribedbelow.

TheMinistryofNaturalResourcesandEnvironment,SocialistRepublicofVietnamissuedaNoticein2007thatsaid:

Article 1. Now use the system parameters to switch between international coordinate systemWGS-84coordinatesystemofnationalandVN-2000isasfollows:

1.Parametershiftstheorigin:-191.90441429M;-39.30318279m;-111.45032835m.

2.Thecoordinaterotation:-0.00928836";0.01975479";-0.00427372".

3.Scalinglength:k=1.000000252906278

10.2 Surface Drill Core

Surfacedrilling initiallyontheTaKhoaconcessionhasbeencompleted in fourphases.The firstphaseofdrillingwascompletedbyaVietnamese/Chinesegeologicalco-operationbetween1959and1963.Notmuchinformationregardingthisearlyworksurvivesotherthanhistoricalhardcopydrill logs detailing geology, assay and survey information. No core exists today from this firstphase of drilling. Down hole surveys are limited to dips only, suggesting theseweremeasuredusingatesttubeetchmethod.Atotalof69holesfor14980metres(53holesfor12469mwereatBanPhuc)ofcoreprefixedLK,BKandBCK is inthedatabasebelongingtothisphaseofdrilling.Thecorediameterisunknown.



The secondphaseofdrilling tookplacebetween1996and1997.A totalof27 coreholesweredrilledbyAsianMineralResources(AMRwasnotlistedatthisstage)for3,794metresintheBanPhuc deposit. A hiatus of drilling activity followeduntil Falconbridge became involvedwith theproject.In2001and2003,38holesfor7991metreswasdrilledbyFalconbridgewhichassistedinthe definition of the Ban Phuc deposit and included various holes drilled throughout theconcession (referAppendix2drillholedetails). Thedrillingwas typicallyHQ2; reduceddown toNQ2whennecessary.

FollowingthelistingofAsianMineralsResourcesontheTSX-Vin2004,atotalof35130mmetresof surface diamond drilling has been completed to the end of 2016. After an initial infill andextensionalprogrammewascompletedin2004(78holesfor14,010mintoBanPhuc),aseriesofsmaller infill programmes have been undertaken and include; 2005 (4 holes for 600m intoKingsnake),2006 (2holes for1490m intoregionalprojects),2007 (12holes for1458m intoBanPhuc,Kingsnakeandregionalprospects),2008(36holesfor6286mintoBanPhuc,BanChangandregionalprospects),2009(7holesfor885mintoBanPhucandBanMong),2010(3holesfor907m)and2013(9holesfor2,710metres),2014(10holesfor2760mintoBanPhucandSuoiPhang,2015(5holesfor882mintoBanPhucEastanddeepsextensionandfinally in2016(2holesfor446mintoKingsnake).IntergeohasdrilledallsurfaceholesatBanPhucforAMRsince1996.ThedrillinghastypicallybeenHQ2andNQ2.ReferAppendix3.

10.3 Underground Drill Core

In 2008, BPNM purchased a U3-6B Kempe drill core and employed a small Phillipino crew tooperate thispneumatic rig.Drillingwasconducted fromaditson the201,202and301RL foratotalof75undergroundholes.Atotalof2,838metresofLTK48diametercorewasdrilled.TherearethreeseriesofholesinthedatabasewhichincludeBP201(279metres),BP202(1,141metres)andBP301(1,418metres).IN2015,5holesforatotalof1077mweredrilledintoBanPhucEastanddeepsextension.ReferAppendix3.



Figure 36 Photograph of an underground heading showing mark up and sample intervals

Therearenodrilling,samplingorrecoveryfactorsthatcouldmateriallyimapcttheaccuracyandreliabilityoftheresults.

11. SAMPLEPREPARATION,ANALYSISANDSECURITY

Therearenodrilling

11.1 Sample Preparation - 1959 to 1963

TheVietnameseGeological Surveydrilleddiamonddrillholesbetween1959and1963with theobjectivetodiscoveracopperminingprovince.Thesizeofthecoredrilledandhowitwascutforsamplepreparationandanalysisisunknown.Asuiteofaditswasalsominedaspartofthisearlyexplorationprogramme,andwerecrosscut intothedunitehosted, lowgradedisseminatedNiSmineralisationandthemassiveNiSveinoresurface.

11.2 Sample preparation - 1996 to 2003

Since 1995 the following ISO accredited laboratories have been employed to assay streamsediment,soil,rockchip,channelanddrillcoresamples:(a)1995-1997:BSE/AnalabsLtd.(Ajointventure between Australian, Hong Kong and the Vietnamese government), (b) 1997-2001:ChemexLabs(NorthVancouver,BC),(c)1997:AcmeAnalyticalLaboratoriesLtd.(Vancouver,BC),(d) 2000-2002 Lakefield Research Limited (Ontario, Canada), (e) 1993-1994, 2003 Genalysis(Perth,WesternAustralia)(Leighton,2003).



11.3 Sample preparation - 2004 to present

The geological process employed by BPNM staff for all drilling between 2004 and 2016 is asfollows:

1. Asummarylogisproducedduringandimmediatelyatthecompletionofthehole.

2. Atregularintervals,summarydrilllogsandinterpreteddrillholesections(developmentinprocess)aresenttotheHanoioffice.

3. Geological logging is carriedout. The sectionsof core tobe sampledare finalisedwithinputfromtheProjectGeologist/SupervisingGeologist.Adecisionastowherethestandardandblanksamplesisinsertedismadeatthistime.

4. Thelogging/samplingintervalsareestablishedandcoremarkedup.Notethattheloggingintervalforthegeotechnical log isonadrillrunbasisandthegeologylog isonanassayedcoresampleintervalbasis.Drillcoreisthenphotographed,bothwetanddry,usingadigitalcamera.

5. Handwrittendrill logsareentered into the site computerusinganACCESS form.This istheprimarydatabase.CopiesofthedatabaseandregularupdatesaresenttotheBanPhucNickelMines office in Hanoi. The site computer has the most up to date database at all times. TheSupervisingGeologistisresponsibleforthequalityofthedataentry.

6. Geotechnicalloggingiscarriedoutbeforecorecutting.

7. Thecoreiscutinhalf(unlessspecialtreatmentisrequestedinthecaseof,forexample,metallurgicalsamples),andthenoneof thehalves isquartercoredwiththediamondsawor inthe case of soft material with a knife or spatula. SG determinations are measured of everysampledinterval.OncesamplesarecutattheBanPhuccorecuttingfacilityarebagged,labelledanddispatchedtotheassaylaboratory.Thestandardsandblanksareincludedinthesamplerunsalso.

8. Samplepreparationconsistsofdryingat105–110◦Cforovernight(or8hours),followedby jaw crushing, roller crushing and pulverising. Detailed notes on sampling and storage ofsamplesareavailable.

Thesamplescollectedbetween2004and2013havebeenanalysedbytheAustraliancommerciallaboratoryIntertekGenalysislocatedinPerth,WesternAustralia;andhavebeenanalysedusingamixed aciddigest (four aciddigest)with an ICP finish.All samples submitted toGenalysis havebeenanalysedforthefollowingsuiteofelements;whichinclude(lowerdetectionlimit inppm):Ag(5),Al(100),As(20),Ba(5),Ca(100),Cd(5),Co(5),Cr(10),Cu(5),Fe(100),K(100),Li(20),Mg(100),Mn(2),Mo(10),Na(100),Ni(5),P(100),Pb(20),S(100),Sc(5),Sr(5),Ti(50),V(10),Y(20),Zn(5)andZr(5). Inaddition,selectedsampleswereanalysedforAu,PtandPdusinga50gramchargefireassaywithanICPfinish.Thedetectionlimitofthisanalysisis1ppb.

A standard of known value, one coarse and one fine blank has been included with the coresamplespertwentyfivesamplesie,eachbatchof25samplesincluded22coresamples,1coarseblank,1 fineblankand1certificatedNi standard.Standardssubmitted toGenalysis include theOREAS72b,74aand14p;andGannetstandardG_MHB1andG_BM64.

11.4 Analysis of Data - 1959 to 1963

Allen, 1989 reviewed the sample preparation and assaying techniques employed by theVietnamese.There issomeconcernwiththesamplepreparation,whichwasundertakenatsite,producinga0.25mmpulverisedsamplefractionpriortotransportation.Athreeaciddigestwas



usedforsampledigestionandan iodinemethodwasusedtodetermineCugradesandeitherabichromateorEDTAmethodwasusedtodetermineNicontent.

Acheckassayprogramme(Coote,1989)wascompletedbyre-samplingthewallsinthecrosscutsof the Ban Phuc two adits, 201 and 202. Coote concluded that the Vietnamese results for Niwithin themassive sulphidemineralisationwere lower than theAMR results. These results areconsistentwiththatseenwhenrecentdiamonddrillcoreassaysarecomparedtotheVietnameseassaysfromtheMSVatBanPhuc.Itcouldbearguedthatthetwosetsofassaysreflectinternalgradevariationwithin theMSV,however it couldalso reflecta trend in thequalityof theearlyVietnameseassayresults.

11.5 Analysis of Data – 1996 to 2003

QAQCworkwasseldomcompletedduringtheperiod1996to2003.Inadditiontotheaditchecksamplingprogrammedescribed insection11.4;aduplicateassayprogrammeandacheckassayprogrammewascompletedbyFalconbridgeonthe1996diamondcore.

11.5.1 Duplicate Assay Programme-1996 Core Sixty samples from five1996diamonddrillholeswere selected for checkanalysis. The samplesselected represented four zones of massive sulphide and hornfels hosted disseminated NiSmineralisation;andlowgrade,dunitehosteddisseminatedNiSmineralisation(Bates,1997).Theoriginal samples were analysed in Hanoi at BSE/Analabs Laboratories using a perchloric aciddigestionat200C◦for2.5hourswithanAASfinish.

TwosetsofcheckassayswerepreparedbyBSE/AnalabsLaboratoriesandsenttoAcmeAnalyticalLaboratoriesLtdofVancouverandChemexLabsLimitedofVancouver.AcmeandChemexwereinstructed to analyse the check assays using the same procedure as BSE/Analabs Laboratories,andAcmewererequestedtorunasecondsplitusinganICPfinish.

The two Canadian laboratories failed to fully comply with AMR’s request. Acme used a 10mlHCLO4,HNO3,HCl,HF digestion at 200C◦with an ICP finish. This process is a partial leach forseveralelementsand formassivesulphides.Acmewasrequestedtore-runthesamplesusingastraightperchloricdigestionandtouseanAASfinish.ThesecondsuiteofresultswasagainreadusingICP.ChemexusedvariousdigestionsforeachelementwithanAASfinish.

Thefindingsofthisreportinclude:

• Very good correlation exists between all five analytical methods for weak and non-mineralisedsamples.

• Correlation between moderately mineralised samples (0.5 to 1.5% Ni) is generallyacceptable.

• Correlationbetweenhigh-gradeNisamplesispoor,generallybeing75%to85%ofthoseanalysedbyBSE/AnalabsinHanoi.Typically,thelargertheBSE/AnalabsNiassayvalue,thelargerthediscrepancywithotherlaboratories.

• Cuexhibitssimilarbutlesspronounceddiscrepanciesforhigher-gradesamples.

• Cobalt results for the higher grade samples are consistently higher from Acme andChemex.



11.5.2 Falconbridge Check Assay Programme Checkassayingof sixty1996diamondcoresamplepulpswasundertakenbyFalconbridgeuponthementeringintotheagreementwithAMRinDecember1998.ThesixtypulpsweresenttotheLakefield Research Laboratory in Canada and analysed using XRF. The analytical results weresignificantly lower than the previouswork undertaken by AMR (Bates, 1999). In fact, Lakefieldreported Ni% values that were approximately three quarters of the BSE/Analabs results. Toaddress thisproblem,Falconbridgerequestedtoassay thecorrespondinghalfcoreof thepulps(Manojlovic, 1999). A quarter core sample of the 1996 and some 1997 half core was sent toLakefield for testwork. Thepulpsoriginally sent to Lakefieldwere assayed a second time. ThissecondroundofLakefieldworkconfirmedtheveracityoftheoriginalBSE/Analabsassayresults(Bates,1999B).ThesecondroundofLakefieldanalysestotalled93NiassaysandarecomparedtotheoriginalBSE/Analabsassayresults.

Figure 37 Scatter plot of check assay programme isascatterplotoftheresultsoftheoriginalBSE/Analabs(NI_BSE)resultsversusthesecondroundLakefieldNiassayresults(Ni_LF2).The scatter is moderately tight around the line X=Y up to approximately 3% Ni, however thescatter increases above nickel grade of 3%. Overall, the two sets of data exhibit a reasonablecorrelationandhavealinearcorrelationcoefficientof0.93.

Figure 37 Scatter plot of check assay programme

Data Statistics

variable: weight by:

mean:

varnc:

coefvrn:

min:

q1:

median:

q3:

max:

iqr:

Ni_BSE --

2.830

5.187

0.805

0.098

1.060

1.870

4.190

8.270

3.130

Ni_LF2 --

2.698

5.072

0.835

0.092

1.030

1.590

4.390

7.630

3.360covarnc:

Pearson:

Spearman:

no. data:

4.771

0.930

0.936

94

(data set at full limits)0 1 2 3 4 5 6 7 8 90

1

2

3

4

5

6

7

8

9

Ni_BSE

Ni_

LF2

Scatter plot



11.6 Analysis of Data – 2004 to present

11.6.1 Standards AtotalofsixcommerciallyavailablenickelstandardshavebeensubmittedaspartoftheQA/QCprogrammeusedbyBPNMsince2004.Thesehaveincludedahigh-gradestandard(OREAS_M3),two medium grade standard (OREAS_14p and OREAS 74a) and three low grade standards(G_BM64,G_MHB1andOREAS_72b).Therewasasinglestandardsubmitted, includingacoarseblank for every 22 core samples; which comprised a complete batch of 25 items. Table 8 Standards used as part of QA/QC belowdescribesthevariousstandardsused.

Atotalof272standardshavebeensubmittedtoGenalysisforassayingsince2004.Theassayedstandardsaredisplayedas“controlcharts”showingtheexpectedvalue(red)ofthestandard,theassayedvaluefromGenalysis(blue)andthecontrollimitssetat±2standarddeviations(s.d.).The2 s.d. control limits are used to determine if the individual results are within the acceptedperformancegates.ThestandardsOREAS72b,74a,G_MHB1,G_BM997-5andG_BM64(Figure 38 , Figure 39 , Figure 40 , Figure 41 ) have all reported satisfactorily. The OREAS 14pstandardhasreportederraticallyattimesandoverallappearstounderstatetheexpectednickelvalue(Figure 42 ).ThestandardOREAS_M3(7individualstandardsanalysed)wassparinglyusedanddiscardedbyBPNMduetopoorperformance(Figure 43 ).

Table 8 Standards used as part of QA/QC

Standard Material Determinations ExpectedValue

Ni% Cuppm Coppm

G_BM64 Lowgradenickel:Gannet:MaggieHays 58 0.63 330 24

G_MHB1 Lowgradenickel:Gannet:MaggieHays

B1

110 0.86 371 253

OREAS_14p Medium grade: Ore Research: West

Musgrave

69 2.09 1,000 751

OREAS_M3 Highgrade:OreResearch:Miitel 7 4.16 7,552 755

OREAS_72b Low grade nickel: Ore Research:

ProsperoandTapinos

28 0.686 193 126

OREAS_74a Mediumgrade:OreResearch:Cosmos 2 3.14 1178 554



Figure 38 Results for standard OREAS 72b



Figure 39 Results for standard OREAS 74a

Figure 40 Results for standard Gannet MHB1



Figure 41 Results for standard Gannet BM997-5

Figure 42 Results for standard OREAS 14p



Figure 43 Results for standard OREAS M3

11.6.2 Blanks Twofineblanksandacoarseblankhavebeensubmittedwith thecoresamples toGenalysisaspartoftheQA/QCprogramme.ThecoarseblankconsistedofanaggregateofarocktypethatisoflowNivalue.TherocktypeusedwaseitherarivergraveloraTriassicagedlimestonefromtheHuoiBunglimestonequarryinHatLot,MaiSonDistrict,SonLa.Thesubmissionofacoarseblankactstotesttheefficacyofthesamplepreparation(crushing),determiningifthereareanysamplecontaminationissuesduringthisprocess.ThefineblankhasbeenpurchasedfromOreResearchandExplorationPtyLtd(OREAS22pand22d)andactstomeasureanybackgroundlevelsofNi,CuorCointhelaboratoryanalysis(Table9).

Theblankresultsdonotshowanysignificantissuesofcontaminationduetopoorhousekeepingprocesses.Thecoarseblanksshowconsistentlowgradevaluesconsistentwithexpectationswiththeoddsampleregisteringaspuriousresult(Figure 44 ).ThefineblankOREAS22dand22pisaquartzpulpandhasbeenmilledto99.9%lessthan75µm’s(Figures45and46). Italsoactsasavery low grade standard. There is a level of over-reporting but it is considered to beinconsequential.



Table 9 Blanks used in QA/QC programme at Ban Phuc

Standard Material Determinations AcceptedValue

Ni% Cuppm Coppm

OREAS_22p Fine blank: Ore Research:

quartz

143 0.0001 0.0001 0.0001

OREAS_22d Fine blank: Ore Research:

quartz

49 0.000438 0.000923 0.000085

CoarseBlank Coarse blank: river gravel

andlimestone

217 0.0001 0.0001 0.0001

Figure 44 Results of analysis of Coarse Blank



Figure 45 Results of analysis of Fine Blank OREAS 22d

Figure 46 Results of analysis of Fine Blank OREAS 22p



11.6.3 Check Assays During the 2004 drilling program a duplicate check assaying programwas initiated to compareinitialGenalysisresultswithanindependentexternallaboratory.ALSChemexbasedinPerthwereusedastheindependentchecklab.Genalysiswere requested to send1 inevery10 samplepulps through toALS forduplicate testwork. The correlationbetween theNi,CuandSdata setswasverygoodwith thePearsonandSpearmancorrelationcoefficientsforthethreedatasetsbeingveryhigh(Shietal,2013).

.

11.6.4 Author’s Opinion on Sample Preparation, Security and Analytical Procedures

BMGS considers that the sampling preparation, security and analytical procedures wereacceptableandmetindustrystandard.

12. DATAVERIFICATION

12.1 Site Visit

DarrylMaplesonofBMGeologicalServices(BMGS)visitedtheBanPhucsitetoreviewtheminegeologyprocessesandtheexplorationpotentialoftheTaKhoadistrict.Thereviewconsistedofathirteen-daysitevisitbetweenthe8thand20thofMay,2014.Thescopeofthevisitwastofocuson the grade controlmethods,QA/QC, geologicalmapping, production tracking andmining. Inaddition to observing the mine geology processes at BPNM, a review of the exploration datacollectionandcaptureprocesswasundertaken.

BenGrguricofMineraliumPtyLtdvisitedtheBanPhucsiteforthreedaysinNovember2014toreview the 2014 exploration programmes carried out at Ban Phuc and the regional prospectareas,andmakerecommendationsonfutureprogrammes.

ThevalidityofthemineandexplorationdatabaseattheBanPhucdeposithasbeenconfirmedviachecksforinternalconsistencyandaccuracy.AsaresultofthesecheckstheauthorconsiderthatthedrillholedatahasbeenadequatelyvalidatedwithsatisfactoryQA-QCanalysis.

13. MINERALPROCESSINGANDMETALLURGICALTESTING

Thissectionisnotapplicabletothisreport.

14. RESOURCEESTIMATES

Noresourceestimateswereconductedforthepurposesofthisreport.Themassivesulphidevein(MSV)mineralresourceattheBanPhucNickelMinehasbeendepleted,havingbeenminedfrom2013 to2016.A [email protected]%Ni for24,000nickel tonnesand0.89%Cu for10,800coppertonneswereminedandprocessedthroughtheBanPhucconcentrator.Thedisseminatedresource at Ban Phuc is current as reported by Shi et al, 2013 in NI43-101 report numberR124.2013dated5thFebruary2013.Table 10 BanPhucDISSMeasuredandIndicatedMineralResource Grade and Tonnage Tabulations (Shi et al 2013) below shows the Ban Phuc DISSMeasuredandIndicatedMineralResourceGradeandTonnageTabulationsandTable 11 Ban



Phuc Measured and Indicated Disseminated Resource above 0.9% Ni (Shi et al,2013)showsthereportedresourceabovea0.9%Nicut-off.

This resource was estimated using ordinary kriging interpolation methods based on 3Dwireframes.Nofurtherdrillinghasbeenundertakenorinformationaddedthatwouldmateriallyaffectthisestimate.

Table 10 Ban Phuc DISS Measured and Indicated Mineral Resource Grade and TonnageTabulations(Shietal2013)



Table 11 Ban Phuc Measured and Indicated Disseminated Resource above 0.9% Ni (Shietal,2013)

15. MINERALRESERVEESTIMATE


16. MININGMETHODS


17. RECOVERYMETHODS

Thissectionisnotapplicabletothisreport

18. PROJECTINFRASTRUCTURE

The process plant site is located on a relatively gently sloped area of West Ban Phuc Valleyadjacent to the Ban Phucmine portal. Cut-off drains have been developed around the site todivertthevalleycatchmentrun-offtodownstreamoftheplantsitepads:ROMorestockpileandprocessplantat220RL;Concentrate shedat210RL;Workshopandwarehouseat200RL;andAdministrationbuildingat200RL.

Powerissuppliedfromthenational35kVgridpowerviaa6kVsubstationfordistributionwithinthesitevialowvoltagemotorcontrolcentres.

Thecampislocated3kmfromtheminesiteontheeastbankoftheChenStreamdownstreamofits confluencewithDamCreek,ona sitealreadyacquiredbyBPNM.Thesite is35m to100mwideandapproximately300mlong.ThecampdrawswaterfromtheDaRivertosupplyareverseosmosisplantfordomestic(non-potable)wateruse.

The processing facility and camp site are currently on a care andmaintenance program sinceminingceasedlate2016.



19. MARKETSTUDIESANDCONTRACTS

Therearenocurrentagreementsorcontractsinplacewithanyexternalparties.

20. ENVIRONMENTAL,PERMITTINGANDSOCIALORCOMMUNITYIMPACT

There are no environmental commitments for exploration activities undertaken other than aCommitmentonEnvironmentalProtectionsubmittedtotheBacYenDistrictpeoplescommitteein2014.EnvironmentalmonitoringisnotrequiredbutrehabilitationofdrillholeareasisexpectedandconductedbyAMR.

21. CAPITALANDOPERATINGCOSTS


22. ECONOMICANALYSIS


23. ADJACENTPROPERTIES


24. OTHERRELEVANTDATAANDINFORMATION


25. INTERPRETATIONANDCONCLUSIONS

MagmaticNi-Cu-Co-PGEmineralisationintheTaKhoaConcessionareawasfirstidentifiedinthemid-1940’s, and to date the bulk of the drilling and all of the mining activity has beenconcentrated intheBanPhucmassivesulphidevein.OutsideofthemainBanPhucminingareaexplorationatmanyof thecurrentprospects isatanearly stage,with theexceptionofa smallgroupofhighprioritytargets.TheTaKhoaConcessionarea lieswithintheSongDarift,amajorcrustal suture zone,which ispartofabroadernorthwest trendingcorridorofdeepcontinentalrifting known as the Red River Fault Zone. The exploration potential of the area is consideredexcellentgiventhegeotectonicaddress,identicalagetothegiantNorilsk-Talnakhsystem(Russia),and the fact that the ultramafic intrusive bodies form part of (and possibly feeders to) theEmeishanlargeigneousprovince.TheRedRiverFaultZonecontinuesnorthintoChinawhereisithosttoadditionalNi-Cudeposits.

Exploration work conducted by AMR has focussed on additional sources of massive or matrixsulphidemineralisationwhich could be readily processedusing the existingmetallurgical plant.Their work has advanced several historical prospects and resulted in the discovery of newprospects.Of these themost advancedandhighest ranked includeKingsnake, Suoi Phang,BanMong, Ban Khang and Ban Khoa. Kingsnake is the most mature brownfields prospect on the



Concessionandbasedontheexistingdrilling, theknownbodyofmineralisationatKingsnake isestimated tobe600m long,0.2 to3.0mthickandaveraging1.79%Ni,0.7%Cuand1.14ppmPGE.

Considerable potential also exists in the district for large-tonnage, lower-grade deposits ofdisseminated sulphides within ultramafic intrusions, similar to the DISS style mineralisation.Regional exploration in the Ta Khoa corridor has identified an extensive system of mafic-ultramafic intrusives, a remarkable number of which have associated Ni-Cu massive ordisseminatedsulphidemineralization.

Themassive sulphidevein (MSV)mineral resourceatBanPhucNickelMinehasbeendepleted,having been mined from 2013 to 2016, however, all processing infrastructure, power, accessroads and site-based accommodation remains in good order through a care andmaintenanceprogramme.Giventheexistenceofthismoderninfrastructure,thethresholdsizerequirementforanewmassiveormatrixsulphidediscovery isconsiderablysmallerthanforapurelygreenfieldsexplorationplay.

In addition to the fundamental geological parameters, theConcession is attractive to explorersdue to the existence of a well-trained, effective and relatively low-cost in-country geologicalteam, the lack of environmental liabilities/legacies and the fact that no additional operatingpermitsarerequiredforfutureexplorationactivities.

Existing drilling, underground sampling and exploration rock chip assay data collected by AMRsince2003havebeenreviewedandthestandardofsamplepreparation,securityandanalyticalproceduresisconsideredacceptablebymodernindustrystandards.

26. RECOMMENDATIONS

TheChimVan–CoMuongFaultZonewhichtransectstheConcessionareaisinterpretedtobeareactivated,deep-rootedstructurecontrollingmagmaconduits,andafeederforsillsinadjacentsedimentaryhorizons.Mostoftheexistinghighrankedprospectsarepresentwithina2kmbufferoneachsideofthestructure.Thiscorridorisconsideredhighlyprospectiveandshouldbeafocusforfuturework.AlowprioritycorridoristhatsurroundingtheSuoiPhang-BanMongstructure.

Thein-countrygeologicalteamshouldmaintaintheirsystematicgossansearch,concentratingonthe prospective corridors discussed above. Gossans should be analysed for Ni, Cu and wherepossiblePGE,andagossanlibraryofduplicatesampleskeptforfollow-uppetrographicanalysis.This team should also continue their systematic geochemical mapping programme, utilising ahand-held XRF unit to screen samples before conventional whole rock analysis. Structuralmappingshouldbeundertakenfollowingtrainingof localcrewbystructuralgeologyspecialists.Thedatacollectedshouldbeinaformatallowingreadyimportationintomodellingpackagese.g.Leapfrog.

Continued programmes of modern geophysics are considered an essential part of the futureexploration on the Concession. Targeted ground EM should be carried out following guidelinesandwithinthehighprioritycorridorsdefinedbyMutton(2015a&d).AdditionalsurveyingshouldbeconsideredforotherblankEMzoneswithintheprospectivecorridors.Configurationofdownhole EM energising loop layouts should, where possible, allow for significant variation in theorientation of conductive plates. Possible plates could have been missed in the past due toineffective coupling). Care should be taken to select a ground crew who operate confidently,safelyandeffectivelyinruggedterrain.



Future drilling programmes should target EM plates, projected down-dip and along-strikecontinuationsofmassive/brecciasulphideoccurrences,andasalowerpriority,ultramaficbodies(withdisseminated tomatrix sulphidepotential).Down-hole EMequipment/crew shouldbeonsitetooverlapwiththelaterstagesofadrillprogrammeinordertoallowfortestingofextensionsornewplatesbeforedemobofthedrillcrew.ProgrammesshouldaimtoquicklyandeffectivelycloseoutprospectswithEManddrillingandatalltimesthelikelyeconomicvalue(size,depthandrealisticgrade)targetbodyshouldbeconsidered.

A3Dregionalgeologyandstructuralmodelshouldbeconstructedandcontinuallyupdatedwithnewdata.Regularpeerreviewsofexplorationresultsandfuturestrategyshouldbecarriedoutoncompletionofcampaignsandreceiptoffinaldatasets.

The current care andmaintenance programme for all processing infrastructure, power, accessroadsandsite-basedaccommodationshouldcontinue.

27. REFERENCES

Allen,J.M.(1989):TheBanPhucNickelandCopperDeposit,TaKhoa,SonLaProvince,Vietnam.InternalCompanyReportpreparedforBPNML.

Bates,T.E. (1997):ReportonSpecificGravityofRockfromBanPhucandCheckAnalysisonDrillCore.InternalCompanyReportpreparedbySpectrumResourcesLimited.

Bates,T.E.(1999A):ComparisonofLakefieldResearchAnalyticalResultswithCheckscarriedouton1996DrillCore.InternalCompanyReportpreparedbyBPNMLimited.

Bates, T.E. (1999B): Comments on Comparison of Original BSE/Analabs Assay Results of XRFAnalysisofEquivalentSamplesLakefieldResearch. InternalCompanyReportpreparedbyBPNMLimited.

Bates, T.E. (2003): Second Revision of Mineral Resources at Ban Phuc Nickel Project, Son LaProvince,Vietnam.

Coote,A.(1989):BanPhucNickel-CopperDeposit:ChannelSamplingProgram.InternalCompanyReportpreparedforAMR.

Cowan, E.J., Davis, B.K. (2015) Structural geology of the Ta Khoa project. Part 2. PowerpointpresentationforAMRBanPhucbyOrefindPtyLtd,76pp.

Davis, B.K., Cowan, E.J. (2015) Structural geology of the Ta Khoa project. Part 1. PowerpointpresentationforAMRBanPhucbyOrefindPtyLtd,94pp.



Evans,B.W.,Trommsdorff,V.(1974)Onelongateolivinesofmetamorphicorigin.Geology,Vol.2,pg.131-132.

Glotov, A.I.,Polyakov, G.V.,Hoa, T.T., Balykin, P.A.,Akimtsev, V.A.,Krivenko, A.P., Tolstykh, N. D.,Phuong, N.T., Thanh, H.H., Huang, T.Q., Petrova, T.E. (2001) The Ban Phuc Ni–Cu–PGE depositrelated to the Phanerozoic komatiite–basalt association in the Song Da Rift, NorthwesternVietnam.CanadianMineralogist,Vol.39,pg.573–589.

Grguric,B.A.(2014)Reviewofthe2014explorationprogrammeandrecommendations:BanPhucandregionalprospects,TaKhoaanticlinorium,Vietnam.UnpublishedreportbyMineraliumPtyLtdforAMRBanPhuc.14pp.

Hanski,E.,Walker,R.J.,Huhma,H.,Polyakov,G.V.,Balykin,P.,Tran,T.H.,Ngo,T.P.,(2004)Originof Permian-Triassic komatiites, northwestern Vietnam. Contributions to Mineralogy andPetrology,Vol.147,pg.453–469.

Leighton,D.G.(2003)GeologicalreportontheAMRnickel-copperprospects,NorthernVietnam.UnpublishedreportforAMRbyLeightonExplorationandDevelopmentLtd.,49pp.

Lepvrier,C.,Nguyen,V.V.,Maluski,H.,Phan,T.T.,Tich,V.V.(2008)IndosiniantectonicsinVietnam.ComptesRendusGeoscience,Vol.340,pg.94–111.

Lightfoot, P.C., Evans-Lamswood, D. (2015) Structural controls on the primary distribution ofmafic–ultramaficintrusionscontainingNi–Cu–Co–(PGE)sulfidemineralizationintherootsoflargeigneousprovinces.OreGeologyReviews,Vol.64,pg354-386.

Manojlovic, P. (1999): Comparison of Lakefield Research Analytical Resultswith Checks CarriedOuton1996DrillCore.InternalCompanyReportpreparedbyFalconbridgeExploration.

Mapleson, D. (2014a) Presentation Agenda – 2014 Exploration Programme Results /Suggested2015Programme.InternalmemofromBMGStoAMR,16-10-2014,1pp.

Mapleson, D. (2014b) Ban Phuc Nickel Mine – Extensional Drilling Update September 2014.InternalmemofromBMGStoAMR,26-9-2014,19pp.

Mapleson,D.,Smalley,J.(2014a)TaKhoareview-Kingsnake.InternalmemofromBMGStoAMR,2-11-2014,10pp.



Mapleson,D.,Smalley,J.(2014b)TaKhoareview-BanKhang.InternalmemofromBMGStoAMR,2-11-2014,8pp.

Mapleson,D.,Smalley,J.(2014c)TaKhoareview-BanKhoa.InternalmemofromBMGStoAMR,2-11-2014,14pp.

Minh,D.H.,Spencer,M.(2015)Proposedexplorationprogramandcosts.InternalAMRmemo4-7-2015,12pp.

Mortimer, R. (2008) Interpretation of 2008 fixed loop and downhole TEM surveying, Ban PhucProject,Vietnam. Internal report fromSouthernGeoscienceConsultants toAMR, July2008, 187pp.

Mutton, P. (2014a) Preliminary Suoi Phang DHEM results and comments. Internal memo fromTouchstoneGeophysicstoAMR,31-10-2014,8pp.

Mutton, P. (2014b) Ban Khoa/Kingsnake and Ban Khang conductors. Internal memo fromTouchstoneGeophysicstoAMR,18-12-2014,20pp.

Mutton, P. (2015a)Modelling results of Ban Phuc East and Kingsnake FLTEM surveys. InternalmemofromTouchstoneGeophysicstoAMR,27-9-2015,4pp.

Mutton, P. (2015b) Ban Phuc Magnetic Vector Inversion (MVI) Results. Internal memo fromTouchstoneGeophysicstoAMR,31-3-2015,14pp.

Mutton, P. (2015c) Magnetic anomalies at Suoi Phang. Internal memo from TouchstoneGeophysicstoAMR,4-8-2015,2pp.

Mutton, P. (2015d) Detecting offset deep extensions to the Ban Phuc orebody. Internalmemofrom Touchstone Geophysics to AMR, 13-5-2015, 6 pp.

Polyakov, G.V., Balykin, P.A., Tran, T.H., Ngo, T.P., Hoang, H.T, Tran, Q.H., Ponomarchuk, V.A.,Lebedev,Y.N.,Kireev,A.D.(1998)EvolutionoftheMesozoic–CenozoicmagmatismoftheSongDariftand itscontouringstructures (northwesternVietnam).RussianGeologyandGeophysics,Vol.39,pg.695-706.

Shi,B.,Fahey,G.,Wyche,J.,Kinghorn,A.,Lewis,P.J.,Gibbons,T.(2013)AsianMineralResourcesLimited,NI43-101TechnicalReport,BanPhucNickelProject.UnpublishedreportbyCSAGlobalPtyLtdforAMRResources,ReportR124.2013,246pp.



Speyers, G.J. (2010) Fixed Loop and Down Hole Transient Electromagnetic Interpretation, BanPhucProject,Vietnam. InternalreportfromSouthernGeoscienceConsultantstoAMR,July2010,202pp.

YKVN.(2016)LegalOpiniononAMRtenure.LegalReportpreparedforinternalusebyYKVNlawfirmforAMRResourcesLTD

28. DATEANDREFERENCEPAGES

I,DarrylMapleson,asco-authorofthereport“NI43-101TechnicalReportontheTaKho(NiCuCo±PGE)Prospects,SonLa,Vietnam”,preparedforAsianMineralResourcesLimitedanddatedMarch3rd2017,doherebycertifythat:

1. Iaman independentConsultingGeologistandDirectorofBMGeologicalServicesPtyLtd,36HannanStreet,Kalgoorlie,WA6430,Australia.

2.IgraduatedwithaBSc(Hons)degreeingeologyfromLaTrobeUniversityin1988.

3.IamaFellowoftheAustralianInstituteofMiningandMetallurgy.

4.Ihaveworkedasageologistforatotalof27yearssincemygraduationfromuniversity.

5. I haveworked in themining andexploration industry in various commodities including gold,nickel, PGM’s and iron ore deposits. I have been involved in mines and projects throughoutAustralia, Asia and Africa for a range of junior to large multinational mining companies. Thisexperience has included mineral exploration, mining geology, resource estimation andmanagementroles.

6. I have visited theBanPhucNickel Project regularlybetween the15thofMayand the21st ofOctober2014.

7.IhaveperformedconsultingservicesforAsianMineralResourcesandits90%ownedsubsidiaryBanPhucNickelMinesLimitedduring theperiod January toOctober2014. IhaveassistedwiththeminegeologyprocessesattheoperationandhaverevieweddatasuppliedbyBanPhucNickelMinesLimitedoverthistime.

8.Iamresponsibleforsections1.1to1.13,2to6,10to12,14,18,20and27ofthisreport.

9. IamindependentofAsianMineralResourcesLimitedpursuanttosection5.1oftheNationalInstrument.

10.IhavereadtheNationalInstrumentandForm43-101F1(the“Form”)andtheReporthasbeenpreparedincompliancewiththeNationalInstrument43-101andtheForm43-101F1.

11.IdonothavenordoIexpecttoreceiveadirectorindirectinterestinAsianMineralResourcesLimited and I do not beneficially own, directly or indirectly, any securities of Asian MineralResourcesLimited;oranyassociateoraffiliateofeithercompany.

12. I am independent of the Issuer applying the test set out in Section 1.5 of the NationalInstrument43-101.



13. To the best of my knowledge, information and belief, as of the date of the Report, theTechnicalReportcontainsallscientificandtechnical informationthat isrequiredtobedisclosedtoensuretheTechnicalReportisnotmisleading.

14. IconsenttothefilingoftheTechnicalReportwithanystockexchangeandotherregulatoryauthority andanypublicationby them, includingelectronicpublication in the company filesontheirwebsitesaccessiblebythepublic,oftheTechnicalReport.

DatedatKalgoorlie,WesternAustralia,onMarch3rd2017.

I,BenGrguric,asco-authorofthereport“NI43-101TechnicalReportontheTaKho(NiCuCo±PGE)Prospects,SonLa,Vietnam”,preparedforAsianMineralResourcesLimitedanddatedMarch3rd2017,doherebycertifythat:

1. I am an independent Consulting Geologist and Director of Mineralium Pty Ltd, 76 TembyAvenue,Kalamunda,WA6076,Australia.

2.IgraduatedwithaBSc(Hons)degreeingeologyfromAdelaideUniversityin1993,andaPhDinEarthSciencesfromtheUniversityofCambridgein1998.

3.IamaFellowoftheAustralianInstituteofGeoscientists.

4.Ihaveworkedasageologistforatotalof20yearssincemygraduationfromuniversity.

5. I haveworked in themining andexploration industry in various commodities including gold,nickel, PGM’s, copper, uranium, tin and other basemetals. I have been involved inmines andprojects throughoutAustralia,Asia,NorthandSouthAmerica,AfricaandEurope fora rangeofjuniortolargemultinationalminingcompanies.Thisexperiencehasincludedmineralexploration,processmineralogy,minegeology,explorationtargetingandmanagementroles.

6. I have visited the Ban PhucNickel Project twice between the April 2011 and theNovember2014.

7.IhaveperformedconsultingservicesforAsianMineralResourcesandits90%ownedsubsidiaryBanPhucNickelMinesLimitedonfiveoccasionsduringtheperiodJuly2013toFebruary2017.IhavereviewedexplorationprogrammesbasedondatasuppliedbyBanPhucNickelMinesLimitedandassistedwithdevelopmentofexplorationstrategy.

8.Iamresponsibleforsections1.14,7to9,25and26ofthisreport.



9. IamindependentofAsianMineralResourcesLimitedpursuanttosection5.1oftheNationalInstrument.

10.IhavereadtheNationalInstrumentandForm43-101F1(the“Form”)andtheReporthasbeenpreparedincompliancewiththeNationalInstrument43-101andtheForm43-101F1.

11.IdonothavenordoIexpecttoreceiveadirectorindirectinterestinAsianMineralResourcesLimited and I do not beneficially own, directly or indirectly, any securities of Asian MineralResourcesLimited;oranyassociateoraffiliateofeithercompany.

12. I am independent of the Issuer applying the test set out in Section 1.5 of the NationalInstrument43-101.

13. To the best of my knowledge, information and belief, as of the date of the Report, theTechnicalReportcontainsallscientificandtechnical informationthat isrequiredtobedisclosedtoensuretheTechnicalReportisnotmisleading.

14. IconsenttothefilingoftheTechnicalReportwithanystockexchangeandotherregulatoryauthority andanypublicationby them, includingelectronicpublication in the company filesontheirwebsitesaccessiblebythepublic,oftheTechnicalReport.

DatedatKalamunda,WesternAustralia,onMarch3rd2017.



Appendix1.ExplorationRankingMatrix

Appendix2.SignificantIntercepts.

a. DRILLHOLES(notincludingBanPhucwhichisanadvanced-mined-project)

Hole_ID Samp_ID From To Length Rocks Ni_% Cu_% Co_%PGE(ppm) Year Prospects

BPUG15-05 506444.0 73.3 74.1 0.8 MSV 4.8 0.5 0.2 2015 UGBanPhuc

BPUG15-05 506447.0 74.5 74.8 0.3 MSV 6.3 1.4 0.2 2015 UGBanPhuc

BPUG15-05 506450.0 75.6 75.8 0.2 SMSV 1.3 0.5 0.0 2015 UGBanPhuc

BPUG15-05 506457.0 80.5 81.0 0.5 UTR 0.6 0.4 0.0 2015 UGBanPhuc

BK02 BK02187 60.4 61.7 1.3 UB2 0.5 1960-1963 BanKhoa

BK02 BK02189 63.0 64.9 1.9 UB2 0.5 1960-1963 BanKhoa

BK02 BK02758 82.1 83.1 1.0 UB2 0.5 1960-1963 BanKhoa

BK02 BK02218 174.6 175.6 1.0 UB2 0.6 1960-1963 BanKhoa

BK02 BK02219 175.6 176.6 1.0 UB2 0.8 1960-1963 BanKhoa

BK02 BK02199 176.6 177.6 1.0 UB2 0.8 1960-1963 BanKhoa

BK02 BK02220 177.6 178.6 1.0 UB2 1.1 1960-1963 BanKhoa

BK02 BK02200 178.6 179.6 1.0 UB2 1.3 1960-1963 BanKhoa

BK02 BK02201 179.6 180.6 1.0 UB2 1.3 1960-1963 BanKhoa

BK02 BK02202 180.6 181.6 1.0 UB2 1.1 1960-1963 BanKhoa

BK02 BK02203 181.6 182.6 1.0 UB2 1.0 1960-1963 BanKhoa

BK02 BK02204 182.6 183.6 1.0 UB2 1.4 1960- BanKhoa



1963

BK02 BK02205 183.6 184.6 1.0 UB2 1.1 1960-1963 BanKhoa

BK02 BK02206 184.6 185.6 1.0 UB2 1.1 1960-1963 BanKhoa

BK02 BK02207 185.6 186.6 1.0 UB2 1.1 1960-1963 BanKhoa

BK02 BK02208 186.6 187.6 1.0 UB2 1.1 1960-1963 BanKhoa

BK02 BK02209 187.6 188.6 1.0 UB2 1.0 1960-1963 BanKhoa

BK02 BK02210 188.6 189.6 1.0 UB2 0.7 1960-1963 BanKhoa

BK02 BK02212 190.6 191.6 1.0 UB2 0.4 1960-1963 BanKhoa

BK02 BK02213 191.6 192.6 1.0 UB2 0.6 1960-1963 BanKhoa

BK02 BK02214 192.6 193.6 1.0 UB2 0.6 1960-1963 BanKhoa

BK02 BK02215 193.6 194.6 1.0 UB2 0.5 1960-1963 BanKhoa

BK02 BK02216 194.6 195.6 1.0 UB2 0.4 1960-1963 BanKhoa

BK02 BK02221 195.6 196.8 1.2 UB2 0.7 1960-1963 BanKhoa

BK02 BK02222 196.8 198.0 1.2 UB2 0.4 1960-1963 BanKhoa

BK02 BK02223 198.0 199.2 1.2 UB2 0.4 1960-1963 BanKhoa

BK02 BK02224 199.2 200.4 1.2 UB2 0.8 1960-1963 BanKhoa

BK02 BK02225 200.4 201.6 1.2 UB2 0.9 1960-1963 BanKhoa

BK02 BK02226 201.6 202.9 1.2 UB2 1.0 1960-1963 BanKhoa

BK02 BK02229 205.3 206.5 1.2 UB2 0.5 1960-1963 BanKhoa

BK03 BK03272 199.6 200.4 0.8 UTR 0.5 1960-1963 BanKhoa

BK03 BK03274 201.4 202.4 1.0 UB2 0.5 1960-1963 BanKhoa

BK03 BK03275 202.4 203.1 0.8 UB2 0.6 1960-1963 BanKhoa

BK03 BK03277 203.8 204.8 1.1 UB2 0.8 1960-1963 BanKhoa

BK03 BK03278 204.8 205.9 1.1 UB2 0.9 1960-1963 BanKhoa

BK03 BK03279 205.9 206.6 0.8 UB2 1.1 1960-1963 BanKhoa

BK03 BK03280 206.6 207.6 0.9 UB2 1.2 1960-1963 BanKhoa

BK03 BK03537 207.6 208.3 0.8 UB2 1.6 1960-1963 BanKhoa

BK03 BK03536 208.3 209.3 1.0 UB2 0.8 1960-1963 BanKhoa

BK03 BK03281 209.6 210.5 0.9 UB2 0.7 1960-1963 BanKhoa

BK03 BK03285 213.4 214.4 1.0 UB2 0.5 1960-1963 BanKhoa



BK03 BK03288 216.3 217.8 1.6 UB2 0.6 1960-1963 BanKhoa

BK03 BK03289 217.8 219.4 1.6 UB2 1.1 1960-1963 BanKhoa

BK03 BK03290 219.4 220.4 1.0 UB2 1.0 1960-1963 BanKhoa

BK03 BK03293 222.6 223.8 1.1 UB2 0.4 1960-1963 BanKhoa

BK03 BK03295 226.9 227.7 0.8 UB2 0.5 1960-1963 BanKhoa

BK03 BK03297 228.9 229.8 0.9 UB2 0.4 1960-1963 BanKhoa

BK03 BK03298 229.8 230.6 0.8 UB2 0.5 1960-1963 BanKhoa

BK03 BK03300 231.6 232.6 1.0 UB2 0.5 1960-1963 BanKhoa

BK03 BK03301 232.6 233.4 0.8 UB2 0.5 0.1 1960-1963 BanKhoa

BK03 BK03302 233.4 234.9 1.5 UB2 0.4 1960-1963 BanKhoa

BK03 BK03303 234.9 235.9 1.0 UB2 0.4 1960-1963 BanKhoa

BK03 BK03304 235.9 236.5 0.6 UB2 0.6 1960-1963 BanKhoa

BK03 BK03306 237.5 238.4 0.9 UB2 0.5 1960-1963 BanKhoa

BK03 BK03312 243.6 244.7 1.1 UB2 0.5 1960-1963 BanKhoa

BK03 BK03313 244.7 245.6 0.9 UB2 0.5 1960-1963 BanKhoa

BK03 BK03314 245.6 246.7 1.1 UB2 0.9 1960-1963 BanKhoa

BK03 BK03315 246.7 248.0 1.3 UB2 0.6 1960-1963 BanKhoa

BK03 BK03316 248.0 249.0 1.0 UB2 0.7 1960-1963 BanKhoa

BK03 BK03317 249.0 250.4 1.4 UB2 0.8 1960-1963 BanKhoa

BK03 BK03318 250.4 251.9 1.5 UB2 0.8 1960-1963 BanKhoa

BK03 BK03319 251.9 252.6 0.8 UB2 0.7 1960-1963 BanKhoa

BK03 BK03320 252.6 254.0 1.4 UB2 0.6 1960-1963 BanKhoa

BK03D BK31048 259.7 260.9 1.2 UB2 0.5 1960-1963 BanKhoa

BK04 BK04382 83.6 85.0 1.4 UB2 0.5 1960-1963 BanKhoa

BK04 BK04390 91.5 92.3 0.8 UB2 0.5 1960-1963 BanKhoa

BK04 BK04398 99.0 100.0 1.0 UB2 0.5 1960-1963 BanKhoa

BK04 BK04418 119.4 120.4 1.0 UB2 0.5 0.0 1960-1963 BanKhoa

BK04 BK04419 120.4 121.4 1.0 UB2 0.4 0.0 1960-1963 BanKhoa

BK04 BK04421 122.4 123.4 1.0 UB2 0.5 0.0 1960-1963 BanKhoa

BK04 BK04425 125.8 126.7 0.9 UB2 0.4 0.0 1960- BanKhoa



1963

BK04 BK04430 130.3 131.9 1.6 UB2 0.4 0.0 1960-1963 BanKhoa

BK04 BK04431 131.9 132.3 0.4 UB2 0.7 0.1 1960-1963 BanKhoa

BK04 BK04432 132.3 133.7 1.4 UB2 0.7 1960-1963 BanKhoa

BK04 BK04433 133.7 134.0 0.3 UB2 0.5 1960-1963 BanKhoa

BK04 BK04434 134.0 135.1 1.1 UB2 0.5 1960-1963 BanKhoa

BK04 BK04435 135.1 136.4 1.2 UB2 0.4 1960-1963 BanKhoa

BK04 BK04436 136.4 137.6 1.2 UB2 0.4 1960-1963 BanKhoa

BK05 BK05485 35.9 36.9 1.0 UB2 0.5 1960-1963 BanKhoa

BK05 BK05486 36.9 38.3 1.4 UB2 0.6 1960-1963 BanKhoa

BK05 BK05487 38.3 39.3 1.0 UB2 0.5 1960-1963 BanKhoa

BK05 BK05513 63.0 63.8 0.8 UB2 0.4 1960-1963 BanKhoa

BK05 BK05522 73.4 74.3 0.9 UB2 0.4 1960-1963 BanKhoa

BK05 BK05523 74.3 75.3 0.9 UB2 0.8 1960-1963 BanKhoa

BK05 BK05524 75.3 76.4 1.2 UB2 0.4 1960-1963 BanKhoa

BK05 BK05527 78.3 79.9 1.6 UTR 0.4 1960-1963 BanKhoa

BK05 BK05665 97.2 98.0 0.8 UTR 0.4 1960-1963 BanKhoa

BK05 BK05534 98.0 98.6 0.6 TKQMS 1.0 1960-1963 BanKhoa

BK06 BK06697 60.1 61.0 0.9 UB2 0.7 1960-1963 BanKhoa

BK06 BK06698 61.0 62.5 1.5 UB2 0.9 1960-1963 BanKhoa

BK06 BK06705 62.5 63.8 1.3 UB2 0.5 1960-1963 BanKhoa

BK06 BK06706 63.8 64.3 0.5 UB2 0.5 1960-1963 BanKhoa

BK06 BK06708 65.3 66.0 0.8 UB2 0.4 1960-1963 BanKhoa

BK06 BK06709 66.0 66.8 0.8 UB2 0.5 1960-1963 BanKhoa

BK06 BK06710 66.8 67.5 0.7 UB2 0.5 1960-1963 BanKhoa

BK06 BK06711 67.5 68.3 0.8 UB2 0.5 1960-1963 BanKhoa

BK06 BK06712 68.3 69.3 1.1 UB2 0.5 1960-1963 BanKhoa

BK06 BK06713 69.3 69.8 0.5 UB2 0.5 1960-1963 BanKhoa

BK06 BK06714 69.8 70.8 0.9 UB2 0.5 1960-1963 BanKhoa

BK06 BK06717 72.5 73.7 1.2 UB2 0.8 1960-1963 BanKhoa



BK06 BK06718 73.7 75.2 1.5 UB2 0.7 1960-1963 BanKhoa

BK06 BK06737 75.2 76.4 1.3 UB2 0.4 1960-1963 BanKhoa

BK06 BK06787 80.3 81.2 0.9 UB2 0.5 1960-1963 BanKhoa

BK07 BK07669 86.6 87.3 0.8 UB2 0.8 1960-1963 BanKhoa

BK07 BK07817 136.8 137.7 0.9 UB2 0.5 1960-1963 BanKhoa

BK07 BK07671 137.7 138.9 1.2 UB2 0.5 1960-1963 BanKhoa

BK07 BK07815 138.9 139.9 1.0 UB2 0.4 1960-1963 BanKhoa

BK07 BK07822 139.9 140.9 1.0 UB2 0.4 1960-1963 BanKhoa

BK07 BK07840 140.9 141.4 0.5 UB2 0.4 1960-1963 BanKhoa

BK07 BK07842 142.7 144.1 1.4 UB2 0.4 1960-1963 BanKhoa

BK07 BK07843 144.1 144.9 0.8 UB2 0.6 1960-1963 BanKhoa

BK07 BK07844 144.9 145.9 1.0 UB2 0.6 1960-1963 BanKhoa

BK07 BK07845 145.9 146.6 0.8 UB2 0.5 1960-1963 BanKhoa

BK07 BK07847 147.9 149.4 1.4 UB2 0.4 1960-1963 BanKhoa

BK07 BK07672 149.4 150.3 0.9 UB2 0.4 1960-1963 BanKhoa

BK07 BK07848 150.3 151.3 1.0 UB2 0.4 1960-1963 BanKhoa

BK07 BK07849 151.3 152.3 1.0 UB2 0.5 1960-1963 BanKhoa

BK07 BK07850 152.3 153.3 0.9 UB2 0.5 1960-1963 BanKhoa

BK07 BK07851 153.3 154.4 1.1 UB2 0.4 1960-1963 BanKhoa

BK07 BK07673 154.4 155.8 1.4 UB2 0.4 1960-1963 BanKhoa

BK07 BK07812 160.4 161.2 0.8 UB2 0.4 1960-1963 BanKhoa

BK07 BK07813 161.2 162.0 0.8 UB2 0.6 1960-1963 BanKhoa

BK07 BK07612 163.2 164.3 1.1 UB2 0.4 1960-1963 BanKhoa

BK07 BK07613 164.3 165.4 1.1 UB2 0.6 1960-1963 BanKhoa

BK07 BK07616 166.9 168.1 1.2 UB2 0.4 1960-1963 BanKhoa

BK07 BK07617 168.1 169.3 1.2 UB2 0.4 1960-1963 BanKhoa

BK07 BK07618 169.3 170.1 0.8 UB2 0.4 1960-1963 BanKhoa

BK07 BK07619 170.1 170.9 0.8 UB2 0.5 1960-1963 BanKhoa

BK07 BK07624 176.5 177.7 1.2 UB2 0.4 1960-1963 BanKhoa

BK07 BK07626 178.9 179.4 0.5 UB2 0.4 1960- BanKhoa



1963

BK07 BK07630 182.3 183.3 1.0 UB2 0.5 1960-1963 BanKhoa

BK07 BK07631 183.3 184.3 1.0 UB2 0.4 1960-1963 BanKhoa

BK07 BK07632 184.3 185.3 1.0 UB2 0.5 1960-1963 BanKhoa

BK07 BK07633 185.3 186.3 1.0 UB2 0.5 1960-1963 BanKhoa

BK07 BK07609 191.6 192.8 1.1 UB2 0.4 1960-1963 BanKhoa

BK07 BK07610 192.8 193.2 0.4 UB2 0.6 1960-1963 BanKhoa

BK07 BK07593 193.2 194.2 1.0 UB2 0.4 1960-1963 BanKhoa

BK07 BK07594 194.2 195.2 1.0 UB2 0.5 1960-1963 BanKhoa

BK07 BK07597 197.3 198.3 0.9 UB2 0.4 1960-1963 BanKhoa

BK07 BK07599 199.4 200.4 1.1 UB2 0.4 1960-1963 BanKhoa

BK07 BK07582 215.6 216.9 1.3 UB2 0.4 1960-1963 BanKhoa

BK07 BK07581 216.9 217.9 1.1 UB2 0.5 1960-1963 BanKhoa

BK07 BK07580 217.9 219.1 1.1 UB2 0.4 1960-1963 BanKhoa

BK07 BK07579 219.1 220.3 1.3 UB2 0.6 1960-1963 BanKhoa

BK07 BK07578 220.3 221.2 0.9 UB2 0.5 1960-1963 BanKhoa

BK07 BK07577 221.2 222.3 1.1 UB2 0.4 1960-1963 BanKhoa

BK07 BK07576 222.3 223.4 1.1 UB2 0.4 1960-1963 BanKhoa

BK07 BK07573 226.3 227.5 1.2 UB2 0.5 1960-1963 BanKhoa

BK07 BK07572 227.5 228.1 0.6 UB2 0.4 1960-1963 BanKhoa

BK08 BK08767 114.7 115.6 0.9 UB2 0.9 1960-1963 BanKhoa

BK08 BK08703 116.3 117.3 0.9 UB2 0.4 1960-1963 BanKhoa

BK08 BK08701 119.1 120.0 0.9 UB2 0.5 1960-1963 BanKhoa

BK08 BK08699 120.0 121.3 1.3 UB2 1.0 1960-1963 BanKhoa

BK08 BK08692 121.3 122.6 1.3 UB2 1.1 1960-1963 BanKhoa

BK08 BK08691 122.6 123.2 0.6 UB2 1.4 1960-1963 BanKhoa

BK08 BK08684 123.2 124.3 1.2 UB2 0.9 1960-1963 BanKhoa

BK08 BK08685 124.3 125.2 0.9 UB2 1.2 1960-1963 BanKhoa

BK08 BK08686 125.2 126.1 0.9 UB2 1.6 1960-1963 BanKhoa

BK08 BK08687 126.1 127.7 1.6 UB2 0.8 1960-1963 BanKhoa



BK08 BK08688 127.7 129.4 1.7 UB2 0.8 1960-1963 BanKhoa

BK09 BK09875 113.2 113.9 0.7 UB2 0.6 1960-1963 BanKhoa

BK09 BK09876 113.9 115.2 1.3 UB2 0.5 1960-1963 BanKhoa

BK09 BK09897 134.3 135.1 0.9 UB2 0.4 1960-1963 BanKhoa

BK09 BK09898 135.1 136.1 1.0 UB2 0.4 1960-1963 BanKhoa

BK09 BK09929 168.6 169.6 1.0 UB2 0.5 1960-1963 BanKhoa

BK09 BK09731 187.9 188.9 1.0 UB2 0.4 1960-1963 BanKhoa

BP00-01 PG02162 90.2 91.0 0.8 MSV 3.5 1.2 0.1 2.3 2000 KingsnakeBP00-01 PG02163 91.0 92.0 0.9 MSV 3.1 0.9 0.1 2.1 2000 KingsnakeBP00-11 PG03654 57.2 57.6 0.4 MSV 2.2 1.1 0.1 1.7 2000 KingsnakeBP00-11 PG03655 57.6 58.0 0.4 TBPts 0.4 0.4 0.0 0.1 2000 KingsnakeBP01-12 PG04517 233.0 233.3 0.3 MSV 2.0 0.4 0.1 2.2 2001 KingsnakeBP01-12 PG04532 249.1 249.4 0.4 MSV 3.0 1.1 0.1 2.5 2001 KingsnakeBP01-12 PG04533 249.4 250.2 0.8 TBPs 0.5 0.3 0.0 2.1 2001 KingsnakeBP05-01 A07028 96.0 97.0 1.0 TBPs 0.5 0.4 0.0 3.4 2005 KingsnakeBP05-01 A07032 99.9 100.3 0.3 MSV 3.4 1.6 0.1 3.7 2005 KingsnakeBP05-02 A07058 120.3 120.4 0.1 MSV 3.5 1.2 0.1 2.2 2005 KingsnakeBP05-03 A07072 137.6 138.0 0.4 MSV 2.6 0.7 0.1 3.0 2005 KingsnakeBP05-03 A07074 138.0 138.1 0.1 TBPs 0.8 1.9 0.1 6.0 2005 KingsnakeBPN07-01 A08108 26.0 26.9 0.9 TBPtc 0.4 0.5 0.0 2.0 2007 KingsnakeBPN07-01 A08109 26.9 27.3 0.5 MSV 3.3 1.0 0.1 3.5 2007 KingsnakeBPN07-02 A08079 19.9 20.1 0.2 MSV 2.4 0.8 0.1 3.1 2007 KingsnakeBP00-04 PG03549 123.1 123.4 0.3 MSV 1.3 0.1 0.1 2.0 2000 QueensnakeBP01-16 PG04586 334.7 335.3 0.6 MSV 1.4 0.5 0.1 1.2 2001 QueensnakeBP01-18 PG04701 178.5 178.6 0.1 MSV 1.0 0.2 0.1 1.2 2001 Queensnake

BCLK2 BC498 58.2 59.2 1.0 MSV 2.7 1.0 1960-1963 BanChang

BCLK4 BC454 62.9 64.6 1.7 MSV 1.9 0.9 1960-1963 BanChang

BCLK4 BC455 64.6 65.8 1.2 UTR 0.7 1.9 1960-1963 BanChang

BM09-01 499241 9.9 10.1 0.2 MSV 3.3 0.5 0.1 2.3 2009 BanMongBM09-02 499262 28.9 29.1 0.3 SMSV 0.8 0.2 0.0 0.0 2009 BanMongBM09-02 499272 55.4 55.7 0.3 SMSV 0.5 0.8 0.0 5.9 2009 BanMongHN00-01 PG02282 79.4 79.6 0.2 UB1 2.7 0.2 0.1 0.4 2000 SuoiHaoHN00-01 PG02283 79.6 80.0 0.4 UB1 0.6 0.2 0.0 0.4 2000 SuoiHaoHN00-01 PG02284 80.0 80.9 0.9 UB1 0.7 0.2 0.0 0.4 2000 SuoiHaoHN00-01 PG02285 80.9 81.8 0.9 UB1 0.4 0.1 0.0 0.4 2000 SuoiHaoHN00-01 PG02290 84.2 84.9 0.8 UB1 0.5 0.2 0.0 0.4 2000 SuoiHaoHN00-01 PG02293 86.2 86.6 0.4 UBPx 0.4 0.3 0.0 0.8 2000 SuoiHaoHN00-01 PG02294 86.6 86.9 0.3 TBPtc 0.4 0.4 0.0 0.4 2000 SuoiHaoHN00-01 PG02295 88.3 89.0 0.8 TBPtc 0.6 0.2 0.0 0.5 2000 SuoiHaoSP14-04 505832 21.2 22.0 0.9 MSV 2.1 0.3 0.1 2014 SuoiPhangSP14-04 505834 22.0 22.7 0.6 MSV 1.8 0.2 0.0 2014 SuoiPhangSP14-04 505835 22.7 22.9 0.3 Bq 0.4 0.4 0.0 2014 SuoiPhangSP14-04 505840 25.0 25.6 0.6 UTR 0.6 0.3 0.0 2014 SuoiPhangST07-01 A08178 33.2 34.0 0.8 UTR 0.5 0.3 0.0 0.5 2007 SuoiTaoST07-01 A08179 34.0 34.5 0.5 SMSV 0.8 0.3 0.0 0.8 2007 SuoiTaoST07-01 A08190 44.0 45.3 1.3 UTR 0.4 0.3 0.0 0.3 2007 SuoiTao



ST07-01 A08191 45.3 46.5 1.2 UTR 0.8 0.7 0.0 0.8 2007 SuoiTaoST07-01 A08192 46.5 48.0 1.5 SMSV 0.9 0.8 0.1 0.6 2007 SuoiTaoST07-01 A08193 48.0 49.0 1.0 UTR 0.9 0.4 0.0 0.7 2007 SuoiTaoST07-01 A08194 49.0 50.0 1.0 UTR 0.4 0.6 0.0 0.5 2007 SuoiTaoST08-02 A08749 21.0 22.0 1.0 UTR 0.6 0.4 0.0 0.7 2008 SuoiTaoST08-02 A08750 22.0 23.0 1.0 UTR 0.4 0.2 0.0 0.5 2008 SuoiTaoST08-02 A08751 23.0 24.1 1.1 UTR 0.6 0.3 0.0 0.3 2008 SuoiTao

b. TRENCHES(notincludingBanPhucwhichisanadvanced–mined-project)

Hole_ID Prospects From To Length Sample_ID Rocks Ni_% Cu_% Co_% Year

BKH1 BanKhoa 0.0 1.0 1.0 BKH81 UB2 0.46 1960-1963


BKH1 BanKhoa 3.0 4.0 1.0 BKH83 OVB 0.75 1960-1963


BKH1 BanKhoa 7.4 8.4 1.0 BKH85 TBP 0.52 1960-1963


BKH12 BanKhoa 0.7 1.4 0.7 BKH647 UB2 0.46 0.00 1960-1963

















BKH12 BanKhoa 18.9 19.5 0.6 BKH476 TBP 0.51 0.00 1960-1963







BKL170 BanKhoa 94.8 95.8 1.0 BKL1024 UB1 0.46 0.02 1960-1963




KSH1 Kingsnake 0.4 1.0 0.6 506902 MSV 0.85 0.77 0.04 2015




KSH5 Kingsnake 5.0 5.5 0.5 506949 TBPts 0.58 0.33 0.02 2015


BCH108A Banchang 14.2 14.9 0.7 BC7284 UTR 0.44 0.19 1960-1963

BCH109 Banchang 38.5 39.5 1.0 BC7298 UTR 0.44 0.18 1960-1963













BCH112 Banchang 40.5 41.5 1.0 BC7412 UTR 0.45 0.14 1960-



1963






BCL12-2 Banchang 13.9 14.9 1.0 BC8169 UTR 0.59 0.25 1960-1963

BCL12-2 Banchang 14.9 16.1 1.2 BC8171 UTR 0.82 0.26 1960-1963

BCL12-2 Banchang 16.1 16.4 0.3 BC8173 MSV 1.02 0.24 1960-1963

BCL12-2 Banchang 16.4 17.1 0.7 BC8175 MSV 1.09 0.46 1960-1963

BCL12-IA Banchang 14.0 14.9 0.9 BC7398 UTR 0.70 0.63 1960-1963

BCL12-IA Banchang 14.9 15.7 0.8 BC7399 UTR 0.58 0.77 1960-1963

BCL12-IB Banchang 6.2 7.2 1.0 BC7477 UTR 0.42 0.63 1960-1963

BCL12-IB Banchang 7.5 8.1 0.6 BC7479 UTR 0.56 1.14 1960-1963

BCL13 Banchang 9.5 10.2 0.7 506829 UTR 0.52 0.88 0.04 1960-1963

BCL13 Banchang 23.5 25.0 1.5 506840 UTR 0.40 0.13 0.02 1960-1964

BCL13 Banchang 32.5 34.0 1.5 506846 UTR 0.43 0.39 0.03 1960-1965

BCL13-28_29 Banchang 1.0 1.6 0.6 506853 MSV 0.94 0.99 0.06 1960-

1966BCL13-28_29 Banchang 0.0 1.0 1.0 506854 MSV 0.58 0.73 0.03 1960-

1967

BCL13-30 Banchang 0.0 1.5 1.5 506855 MSV 0.96 0.66 0.08 1960-1968

BCL13-31 Banchang 0.0 1.6 1.6 506856 MSV 2.19 1.54 0.19 1960-1969

BCL13-32 Banchang 0.0 1.6 1.6 506857 SMSV 0.65 0.42 0.03 1960-1970

BCL13-33_34 Banchang 0.0 0.3 0.3 506858 SMSV 0.66 0.46 0.03 1960-

1971BCL13-33_34 Banchang 0.3 1.6 1.3 506859 SMSV 0.47 0.27 0.02 1960-

1972

BCL13-35 Banchang 0.0 1.6 1.6 506860 SMSV 0.62 0.54 0.03 1960-1973

BCL13-36_37 Banchang 0.6 1.6 1.0 506862 MSV 0.41 0.47 0.02 1960-

1974BCL13-38_39 Banchang 1.0 1.6 0.6 506865 MSV 0.52 0.34 0.03 1960-

1975BCL13-40_41 Banchang 1.0 1.6 0.6 506867 MSV 0.58 0.49 0.03 1960-

1976BCL13-42_43 Banchang 1.0 1.6 0.6 506869 MSV 0.53 0.44 0.03 1960-

1977BCL13-46_47 Banchang 0.0 1.0 1.0 506872 TBP 0.61 0.51 0.04 1960-

1978



BCH02 Banchang 0.6 1.2 0.6 508432 UTR 0.43 0.59 0.03 2015

BCH02 Banchang 6.6 6.8 0.2 508441 SMSV 0.45 0.34 0.03 2015


BCH04 Banchang 17.3 17.8 0.5 508108 UTR 0.95 0.36 0.04 2015

BCH04 Banchang 15.8 17.3 1.5 508109 UTR 0.64 0.31 0.03 2015

BCH04 Banchang 12.8 13.8 1.0 508112 UTR 0.54 0.26 0.03 2015

BCH04 Banchang 10.8 12.8 2.0 508113 UTR 0.72 0.26 0.04 2015

BCH04 Banchang 5.2 6.0 0.8 508115 UTR 0.44 0.19 0.02 2015

BCH06 Banchang 21.7 23.1 1.4 508130 UTR 0.85 0.24 0.06 2016


BCH06 Banchang 28.5 30.5 2.0 508137 UTR 0.46 0.34 0.02 2016

BCH06 Banchang 56.7 57.7 1.0 508158 UTR 0.57 0.34 0.05 2016

BCH07 Banchang 46.5 47.0 0.5 508196 UTR 0.54 0.42 0.05 2016


BCH07 Banchang 50.0 51.0 1.0 508198 UTR 0.61 0.46 0.04 2016

BCH07 Banchang 51.0 52.0 1.0 508199 UTR 0.51 0.40 0.04 2016

BCH07 Banchang 52.0 52.6 0.6 508201 UTR 0.42 0.39 0.03 2016

BCH07 Banchang 62.6 63.6 1.0 508213 UTR 0.42 0.20 0.04 2016



BCH07 Banchang 69.4 70.1 0.7 508220 UTR 0.49 0.27 0.04 2016

BCH07-N1 Banchang 1.0 2.0 1.0 508202 SMSV 0.52 0.36 0.03 2016

BCH12-1 Banchang 0.0 1.0 1.0 508303 Bcm 0.42 0.65 0.03 2016

BCH05-1 Banchang 7.6 8.2 0.6 508324 Gossan 0.66 0.60 0.04 2016

BMH09 Banmong 2.3 2.4 0.1 508891 MSV 3.24 0.37 0.10 2016

BMH09 Banmong 8.2 8.3 0.2 508895 MSV 5.24 0.23 0.22 2016

BMH12 Banmong 5.2 5.4 0.2 508856 SMSV 0.55 13.60 0.02 2016

H_SP01 SuoiPhang 1.0 1.4 0.4 499539 MSV 3.25 0.37 0.10 2011

H_SP02 SuoiPhang 6.3 7.9 1.6 499538 SMSV 1.60 0.49 0.08 2011

H_SP01 SuoiPhang 7.9 9.7 1.8 499546 TRE 0.46 0.19 0.02 2011


H_SP01A SuoiPhang 0.0 0.7 0.7 499558 SMSV 1.21 0.41 0.04 2011

H_SP02A SuoiPhang 0.0 1.0 1.0 499536 MSV 5.96 3.53 0.20 2011


H_SP02 SuoiPhang 3.9 4.5 0.6 499553 MSV 10.40 0.16 0.52 2011




SPH01 SuoiPhang 5.6 6.8 1.2 508576 UTR 0.40 0.13 0.01 2016

SPH01 SuoiPhang 6.8 7.6 0.8 508577 MSV 1.45 0.84 0.04 2016



SPH08 SuoiPhang 12.3 13.5 1.2 508616 UTR/Gossan 0.45 0.03 0.02 2016

SPH11 SuoiPhang 7.3 8.2 0.9 508634 UTR/gossan 0.44 0.34 0.02 2016




SPH11 SuoiPhang 11.8 12.2 0.4 508640 UTR/gossan 0.54 0.14 0.02 2016

SPH13-1 SuoiPhang 4.2 4.6 0.4 508648 Gossan 0.50 5.12 0.03 2016



SPH16 SuoiPhang 2.2 2.2 0.0 508669 Gossan 0.63 0.07 0.03 2016

SPH16 SuoiPhang 2.8 3.0 0.2 508670 Gossan 0.49 0.04 0.02 2016

SPH19A SuoiPhang 0.0 1.0 1.0 508688 MSV 3.97 0.40 0.13 2016


SPH19A SuoiPhang 2.1 3.0 0.9 508690 Bqs/Diss 1.21 1.18 0.05 2016


SPH19A SuoiPhang 7.7 8.2 0.5 508696 UTR 0.44 0.48 0.02 2016

SPH19A SuoiPhang 8.2 9.5 1.3 508697 gossan 0.48 1.99 0.02 2016BKhH01-

K2 BanKhang 16.7 16.9 0.2 508531 SMSV 0.85 0.53 0.03 2016

BKhH01-K3 BanKhang 1.1 1.4 0.3 508534 FLT/gossan 0.45 0.24 0.02 2016

BKhH04 BanKhang 36.8 37.9 1.1 508466 SMSV 0.42 1.23 0.03 2016

BKhH04 BanKhang 37.9 38.9 1.0 508467 SMSV 0.56 0.41 0.03 2016

BKhH04 BanKhang 38.9 40.0 1.1 508468 UTR 0.45 0.33 0.02 2016



c. OUTCROPS(notincludingBanPhucwhichisanadvanced–mined-project)

Outcrop_ID From To Length Samples_ID Rocks Ni_% Cu_% Co_% Prospects YearKSO1 0.52 0.99 0.47 506903 MSV 0.63 4.44 0.04 Kingsnake 2015KSO2 3.51 4.01 0.50 M2/18/9/2013 MSV 2.82 0.62 Kingsnake 2013KSO3 0.00 2.94 2.94 506910 UTR 0.25 0.09 0.01 Kingsnake 2015KSO3 2.94 4.54 1.60 506909 MSV 3.27 1.30 0.11 Kingsnake 2015KSO4 0.80 1.30 0.50 508319 TBPTs 0.09 0.180 0 Kingsnake 2015KSO4 1.30 1.70 0.40 508321 SMSV 0.07 0.16 0 Kingsnake 2015KSO4 1.90 2.90 1.00 508322 MSV 0.29 0.25 0.01 Kingsnake 2015KSO4 2.90 3.40 0.50 508323 TBPTs 0.35 0.19 0.01 Kingsnake 2015

BMOC01 1.00 1.10 0.10 508706 SMSV 1.71 0.80 0.07BanMong 2016

BMOC01 9.10 11.10 2.00 508707 TRE 0.10 0.01 0.01BanMong 2016

BMOC01 11.10 13.10 2.00 508708 Peg 0.05 0.01 0.00BanMong 2016

BMOC02 1.20 1.70 0.50 508709 TRE 0.07 0.01 0.01BanMong 2016

BMOC02 2.40 2.90 0.50 508710 TRE 0.03 0.01 0.00BanMong 2016

BMOC02 3.70 5.90 2.20 508711 TRE 0.04 0.01 0.00BanMong 2016

BMOC03 1.30 3.30 2.00 508712 TRE 0.15 0.03 0.01BanMong 2016

BMOC03 3.30 5.30 2.00 508713 TRE 0.22 0.04 0.01BanMong 2016



BMOC03 5.30 7.30 2.00 508714 TRE 0.17 0.03 0.01BanMong 2016

BMOC03 7.30 9.30 2.00 508715 TRE 0.11 0.04 0.01BanMong 2016

BMOC03 9.30 11.30 2.00 508716 TRE 0.18 0.20 0.01BanMong 2016

BMOC03 11.30 13.30 2.00 508718 TRE 0.19 0.06 0.01BanMong 2016

BMOC03 13.30 15.30 2.00 508719 TRE 0.31 0.25 0.01BanMong 2016

BMOC03 15.30 17.30 2.00 508720 TRE 0.14 0.08 0.01BanMong 2016

BMOC03 17.30 19.30 2.00 508721 TRE 0.15 0.05 0.01BanMong 2016

BMOC03 19.30 21.30 2.00 508722 TRE 0.13 0.01 0.01BanMong 2016

BMOC03 21.30 24.30 3.00 508723 Peg 0.05 0.01 0.00BanMong 2016

BMOC04 13.80 15.10 1.30 508724 TRE 0.21 0.18 0.01BanMong 2016

BMOC04 15.10 17.10 2.00 508725 TRE 0.10 0.02 0.00BanMong 2016

BMOC04 17.10 19.10 2.00 508726 TRE 0.14 0.01 0.01BanMong 2016

BMOC04 19.10 21.10 2.00 508728 TRE 0.14 0.01 0.01BanMong 2016

BMOC04 21.10 23.10 2.00 508729 TRE 0.15 0.03 0.01BanMong 2016

BMOC04 23.10 25.10 2.00 508731 TRE 0.16 0.01 0.01BanMong 2016

BMOC04 25.10 27.10 2.00 508732 TRE 0.22 0.05 0.02BanMong 2016

BMOC04 27.10 29.10 2.00 508733 UTR 0.18 0.03 0.01BanMong 2016

BMOC04 29.10 31.10 2.00 508734 UTR 0.15 0.04 0.01BanMong 2016

BMOC04 31.10 33.10 2.00 508735 UTR 0.15 0.05 0.01BanMong 2016

BMOC04 33.10 35.10 2.00 508736 UTR 0.16 0.19 0.01BanMong 2016

BMOC04 35.10 37.10 2.00 508737 UTR 0.12 0.01 0.01BanMong 2016

BMOC04 37.10 39.10 2.00 508738 UTR 0.12 0.02 0.01BanMong 2016

BMOC04 39.10 41.10 2.00 508739 UTR 0.15 0.07 0.01BanMong 2016

BMOC04 41.10 43.10 2.00 508740 UTR 0.10 0.09 0.01BanMong 2016

BMOC04 43.10 45.10 2.00 508741 UTR 0.15 0.04 0.01BanMong 2016

BMOC04 45.10 47.10 2.00 508743 UTR 0.11 0.02 0.01BanMong 2016

BMOC04 47.10 49.10 2.00 508744 UTR 0.12 0.03 0.01BanMong 2016

BMOC05 1.00 3.00 2.00 508745 UTR 0.07 0.01 0.01BanMong 2016

BMOC05 3.54 5.54 2.00 508746 UTR 0.06 0.01 0.01BanMong 2016

BMOC05 5.54 8.04 2.50 508747 Peg 0.00 0.01 0.00 Ban 2016



Mong

BMOC05 8.04 9.04 1.00 508748 TRE 0.06 0.02 0.01BanMong 2016

BMOC05 9.04 11.04 2.00 508749 Peg 0.03 0.01 0.00BanMong 2016

BMOC08 2.57 4.57 2.00 508783 TRE 0.09 0.01 0.01BanMong 2016

BMOC08 4.57 6.07 1.50 508784 TRE 0.18 0.42 0.01BanMong 2016

BMOC08 6.07 8.07 2.00 508785 TRE 0.16 0.06 0.01BanMong 2016

BMOC08 8.07 10.07 2.00 508786 TRE 0.21 0.09 0.01BanMong 2016

BMOC08 10.07 12.07 2.00 508787 TRE 0.16 0.08 0.01BanMong 2016

BMOC08 12.07 14.07 2.00 508789 TRE 0.13 0.05 0.01BanMong 2016

BMOC08 14.07 16.07 2.00 508790 TRE 0.09 0.01 0.01BanMong 2016

BMOC10 2.36 2.51 0.15 508793 MSV 3.99 0.07 0.16BanMong 2016

BMOC10 2.51 2.86 0.35 508794 TRE 0.33 0.30 0.01BanMong 2016

BMOC10 2.86 4.56 1.70 508795 TRE 0.13 0.03 0.01BanMong 2016

BMOC10 4.56 6.56 2.00 508796 TRE 0.13 0.02 0.01BanMong 2016

BMOC10 6.56 8.56 2.00 508797 TRE 0.15 0.07 0.01BanMong 2016

BMOC10 8.56 10.56 2.00 508798 TRE 0.14 0.01 0.01BanMong 2016

BMOC10 10.56 12.56 2.00 508799 TRE 0.15 0.03 0.01BanMong 2016

BMOC10 12.56 14.56 2.00 508800 TRE 0.15 0.04 0.01BanMong 2016

BMOC11 2.25 2.35 0.10 508802 SMSV 0.27 0.01 0.01BanMong 2016

BMOC11 11.30 11.80 0.50 508804 MSV 6.11 0.11 0.20BanMong 2016

BMOC11 11.80 12.30 0.50 508805 TRE 1.28 1.26 0.25BanMong 2016

BMOC12 1.57 3.07 1.50 508806 TRE 0.13 0.06 0.01BanMong 2016

BMOC12 5.76 7.76 2.00 508807 TRE 0.10 0.01 0.01BanMong 2016

BMOC12 13.35 14.35 1.00 508808 TRE 0.18 0.14 0.01BanMong 2016

BMOC12 21.38 21.88 0.50 508809 MSV 4.56 0.15 0.15BanMong 2016

BMOC12 23.15 25.15 2.00 508810 TRE 0.09 0.01 0.01BanMong 2016

BMOC12 25.15 27.15 2.00 508811 TRE 0.07 0.01 0.01BanMong 2016

BMOC12 27.15 29.05 1.90 508812 TRE 0.08 0.01 0.01BanMong 2016

BMOC12 31.80 33.80 2.00 508813 TRE 0.10 0.01 0.01BanMong 2016

BMOC12 33.80 35.80 2.00 508814 TRE 0.11 0.01 0.01BanMong 2016



BMOC12 35.80 37.80 2.00 508815 TRE 0.08 0.01 0.01BanMong 2016

Appendix3.DrillHoleLocations

Prospect Hole_id N_Vn2000 E_Vn2000 RL Az_Vn2000 Max_depth Dip Dia Type Year

BanPhuc BP9601

2,343,790.14

481,904.18

457.27 200.00 152.20-

47.00 HQ Surface 1996

BanPhuc BP9602

2,343,744.74

481,883.68

481.49 190.00 116.90-


BanPhuc BP9603

2,343,741.24

481,775.96

388.61 20.00 55.20-


BanPhuc BP9604

2,343,624.25

481,948.77

542.71 20.00 38.00-


BanPhuc BP9605

2,343,719.53

481,768.59

378.76 20.00 118.20-


BanPhuc BP9606

2,343,718.97

481,982.53

499.56 200.00 151.00-


BanPhuc BP9607

2,343,594.89

482,040.18

488.09 20.00 110.10-


BanPhuc BP9608

2,343,698.14

482,082.93

484.43 201.00 150.00-


BanPhuc BP9609

2,343,575.73

482,139.37

450.38 20.00 77.40-


BanPhuc BP9610

2,343,556.77

482,133.27

435.67 20.00 100.00-


BanPhuc BP9611

2,343,698.39

482,084.43

484.28 180.00 150.00-


BanPhuc BP9701

2,343,696.63

481,811.17

414.55 22.00 94.10-


BanPhuc BP9702

2,343,623.37

481,835.05

448.79 21.00 127.45-

52.00 HQ/NQ Surface 1997

BanPhuc BP9703

2,343,838.82

482,086.74

461.24 201.00 214.15-


BanPhuc BP9704

2,343,725.11

482,092.11

473.61 201.00 202.00-


BanPhuc BP9705

2,343,636.56

481,894.74

498.14 26.00 110.00-


BanPhuc BP9706

2,343,914.47

482,118.22

419.65 202.00 207.70-


BanPhuc BP9707

2,343,744.38

482,100.71

473.46 201.00 150.00-


BanPhuc BP9708

2,343,756.37

481,944.45

474.26 201.00 170.00-


BanPhuc BP9709

2,343,590.17

481,931.07

537.46 21.00 116.40-


BanPhuc BP9710

2,343,742.57

481,993.47

484.35 201.00 179.90-


BanPhuc BP9711

2,343,564.56

482,082.32

471.04 21.00 129.28-


BanPhuc BP9712

2,343,541.68

481,965.81

504.52 21.00 151.48-


BanPhuc BP9713

2,343,521.89

482,118.20

425.61 21.00 151.10-


BanPhuc BP9714

2,343,780.45

482,006.10

470.34 201.00 220.50-


BanPhuc BP9715

2,343,889.52

481,838.87

375.26 201.00 211.40-




BanPhuc BP9716

2,343,649.20

481,792.52

407.68 21.00 139.00-


SuoiHao HN00-01

2,342,538.03

496,514.48

982.79 13.00 244.40-


SuoiHao HN00-02

2,342,222.11

497,218.33

956.67 13.00 217.81-


Queensnake BP00-04

2,344,350.74

483,804.13

546.12 30.00 162.20-


Queensnake BP00-05

2,344,300.33

484,094.46

677.25 22.00 215.20-


Queensnake BP00-06

2,344,045.70

484,053.39

647.23 20.00 158.00-


PhiengPot BP00-07

2,345,355.92

478,590.34

374.02 18.00 176.00-


PhaiHan BP00-08

2,344,623.08

480,864.25

111.00 202.00 250.40-


PhaiHan BP00-10

2,344,738.86

480,877.05

107.00 202.00 189.90-


NamNoi BP00-09

2,343,670.29

482,634.75

240.00 190.00 275.00-


Kingsnake BP00-01

2,344,458.27

482,971.49

239.11 22.00 280.90-


Kingsnake BP00-02

2,344,676.06

482,914.00

308.35 21.00 175.01-


Kingsnake BP00-11

2,344,510.51

482,685.73

171.03 22.00 150.21-


BanPhuc BP00-03

2,344,363.50

481,490.61

364.24 23.00 300.30-


Queensnake BP01-14

2,344,206.44

483,963.39

682.60 20.00 230.00-


Queensnake BP01-16

2,344,112.33

483,924.79

617.65 20.00 477.30-


Queensnake BP01-18

2,344,383.02

483,602.92

505.96 20.00 287.80-


Queensnake BP01-19

2,344,208.67

483,746.05

611.74 20.00 557.80-


Queensnake BP01-23

2,344,134.25

484,261.07

692.88 20.00 196.20-


Kingsnake BP01-12

2,344,407.90

482,644.98

235.42 21.00 353.20-


Kingsnake BP01-13

2,344,289.92

482,912.03

343.06 21.00 130.25-


Kingsnake BP01-15

2,344,289.92

482,912.03

343.06 21.00 440.00-


Kingsnake BP01-21

2,344,423.87

483,082.62

255.79 22.00 220.20-


Kingsnake BP01-22

2,344,563.84

482,497.96

152.00 21.00 252.70-


BanPhuc BP01-17

2,343,921.04

482,329.47

340.62 22.00 351.90-


BanPhuc BP01-20

2,343,987.40

482,235.34

340.00 235.00 472.90-


BanPhuc BP03-1

2,343,644.89

481,952.37

543.90 22.00 120.00-


BanPhuc BP03-2

2,343,635.31

481,975.50

534.83 22.00 84.00-


BanPhuc BP03-3

2,343,634.56

482,056.75

516.45 22.00 70.00-


BanPhuc BP03-4

2,343,624.37

481,998.03

518.98 22.00 80.00-


BanPhuc BP03-5

2,343,612.08

482,047.41

502.94 22.00 90.00-




BanPhuc BP03-6

2,343,591.62

481,985.21

503.66 22.00 110.20-


BanPhuc BP03-7

2,343,744.10

481,965.46

481.47 202.00 144.20-


BanPhuc BP03-8

2,343,615.66

482,022.20

505.94 22.00 64.90-


BanPhuc BP03-9

2,343,776.74

481,898.88

467.82 202.00 143.00-


BanPhuc BP03-10

2,343,820.16

481,862.50

431.63 202.00 34.00-


BanPhuc BP03-11

2,343,764.83

481,921.33

468.81 202.00 155.00-


BanPhuc BP03-12

2,343,742.57

481,939.30

477.69 202.00 130.40-


BanPhuc BP04-01

2,343,702.32

482,057.55

501.20 202.00 151.30-


BanPhucBP04-01A

2,343,703.34

482,057.91

501.21 202.00 200.60

-50.34 HQ Surface 2004

BanPhuc BP04-02

2,343,619.15

482,158.77

473.66 202.00 51.00-


BanPhuc BP04-03

2,343,633.41

482,136.96

491.45 202.00 78.40-


BanPhuc BP04-04

2,343,598.84

482,095.61

483.26 22.00 39.80-


BanPhuc BP04-05

2,343,568.00

482,165.65

442.83 22.00 57.64-


BanPhuc BP04-06

2,343,549.04

482,157.54

430.04 22.00 79.55-


BanPhuc BP04-07

2,343,673.07

482,099.28

492.73 22.00 138.20-


BanPhuc BP04-08

2,343,559.62

482,188.56

428.85 22.00 60.00-


BanPhuc BP04-09

2,343,579.61

482,115.60

458.98 22.00 59.00-


BanPhuc BP04-10

2,343,590.15

482,011.70

491.35 22.00 101.00-


BanPhuc BP04-11

2,343,703.62

482,004.00

505.80 202.00 146.60-


BanPhuc BP04-12

2,343,733.29

481,908.63

493.49 202.00 117.90-


BanPhuc BP04-13

2,343,609.37

481,965.24

527.53 22.00 99.15-


BanPhuc BP04-14

2,343,608.43

481,911.06

520.65 22.00 136.20-


BanPhuc BP04-15

2,343,716.40

481,955.02

475.37 22.00 112.90-


BanPhuc BP04-16

2,343,655.38

481,876.06

490.00 202.00 127.60-


BanPhuc BP04-17

2,343,650.07

481,820.28

432.48 22.00 118.20-


BanPhuc BP04-18

2,344,008.29

481,939.62

460.08 202.00 86.50-


BanPhuc BP04-19

2,344,030.06

481,975.38

444.78 202.00 90.00-


BanPhuc BP04-20

2,343,730.18

481,852.76

446.32 202.00 82.70-


BanPhuc BP04-21

2,344,005.97

482,047.09

423.94 202.00 49.40-


BanPhuc BP04-22

2,344,032.65

482,002.30

439.71 202.00 53.00-


BanPhuc BP04-23

2,343,988.74

481,715.59

340.30 202.00 140.00-


BanPhuc BP04-24

2,343,973.31

481,601.07

261.27 22.00 87.45-

42.04 HQ Surface 2004BanPhuc BP04-25 202.00 124.50 - HQ Surface 2004



2,344,141.22 481,560.83 323.91 48.50

BanPhuc BP04-26

2,344,046.08

481,576.54

316.92 202.00 85.00-


BanPhuc BP04-27

2,344,048.85

481,686.00

331.96 202.00 160.50-


BanPhuc BP04-28

2,343,828.83

482,136.37

446.32 202.00 294.00-


BanPhuc BP04-29

2,343,549.78

482,101.66

450.96 22.00 126.65-


BanPhuc BP04-30

2,343,803.86

481,909.94

446.08 202.00 10.40-


BanPhucBP04-30A

2,343,803.86

481,909.94

446.98 202.00 211.80


BanPhuc BP04-31

2,343,532.11

482,014.62

465.45 22.00 211.50-


BanPhuc BP04-32

2,343,520.23

482,226.21

409.03 22.00 112.00-


BanPhuc BP04-33

2,343,520.23

482,226.21

409.03 22.00 129.20-


BanPhuc BP04-34

2,343,522.84

482,119.05

425.52 22.00 232.80-


BanPhuc BP04-35

2,343,912.86

482,116.40

422.81 202.00 225.80-

81.04 HQ3/NQ3 Surface 2004

BanPhuc BP04-36

2,343,828.71

482,136.49

446.34 22.00 393.70-


BanPhuc BP04-37

2,343,500.29

482,163.82

395.26 22.00 153.75-


BanPhuc BP04-38

2,343,753.55

481,727.34

354.34 22.00 42.80-


BanPhuc BP04-39

2,343,835.09

481,922.57

429.33 202.00 250.90-


BanPhuc BP04-40

2,343,678.46

482,155.73

473.12 202.00 162.50-


BanPhuc BP04-41

2,343,846.84

481,765.09

405.08 202.00 139.90-


BanPhuc BP04-42

2,344,040.28

481,952.84

431.87 202.00 313.60-


BanPhuc BP04-43

2,343,827.51

482,135.64

446.32 202.00 320.40-


BanPhuc BP04-44

2,343,618.76

482,266.34

424.32 202.00 173.90-


BanPhuc BP04-45

2,343,875.85

481,939.29

422.44 202.00 305.10-


BanPhuc BP04-46

2,343,851.46

481,821.32

406.62 202.00 179.50-


BanPhuc BP04-47

2,343,838.69

481,978.15

441.51 202.00 318.40-


BanPhuc BP04-48

2,343,963.30

482,083.16

393.65 202.00 469.70-


BanPhuc BP04-49

2,343,852.05

481,821.38

407.15 202.00 247.00-

71.34 HQ3 Surface 2004

BanPhuc BP04-50

2,343,875.98

481,939.18

422.47 202.00 108.90-


BanPhucBP04-50A

2,343,875.98

481,939.18

422.47 202.00 388.10

-64.71 HQ3/NQ3 Surface 2004

BanPhuc BP04-51

2,343,858.41

482,040.35

449.94 202.00 103.15-


BanPhucBP04-51A

2,343,858.41

482,039.84

449.94 202.00 308.30


BanPhuc BP04-52

2,343,839.09

481,978.64

441.52 202.00 389.40-


BanPhuc BP04-53

2,343,924.99

481,851.42

395.37 202.00 305.70-


BanPhuc BP04-54

2,343,876.49

481,939.24

422.30 202.00 266.80-




BanPhuc BP04-55

2,343,898.34

482,056.26

425.77 202.00 191.20-


BanPhucBP04-55A

2,343,898.34

482,056.26

425.77 202.00 391.00

-56.95 HQ3/NQ3 Surface 2004

BanPhuc BP04-56

2,343,921.85

481,796.24

357.69 202.00 236.40-


BanPhuc BP04-57

2,343,875.51

481,938.59

422.35 202.00 219.40-


BanPhuc BP04-58

2,343,804.04

481,990.98

456.02 202.00 218.80-


BanPhuc BP04-59

2,343,922.12

481,796.54

357.66 202.00 240.40-


BanPhuc BP04-60

2,343,722.52

482,092.92

473.14 202.00 182.80-


BanPhuc BP04-61

2,343,876.73

481,938.46

422.40 22.00 231.80-


BanPhuc BP04-62

2,343,806.66

481,938.06

449.49 202.00 188.00-


BanPhuc BP04-63

2,343,763.75

482,055.35

488.55 202.00 269.00-


BanPhuc BP04-64

2,343,925.69

481,851.48

395.01 202.00 181.50-


BanPhuc BP04-65

2,343,823.07

481,890.94

431.41 202.00 214.40-


BanPhuc BP04-66

2,343,702.18

482,111.58

468.77 202.00 157.60-


BanPhuc BP04-67

2,343,901.93

481,869.07

396.74 202.00 182.70-


BanPhuc BP04-68

2,343,866.57

482,097.71

449.24 202.00 153.00-


BanPhuc BP04-69

2,343,855.58

482,120.21

448.32 202.00 202.60-


BanPhuc BP04-70

2,343,922.09

482,174.58

393.25 202.00 171.00-


BanPhuc BP04-71

2,343,853.03

482,122.69

448.30 22.00 195.00-


BanPhuc BP04-72

2,343,683.62

482,212.45

438.91 202.00 159.15-


BanPhuc BP04-73

2,343,823.37

481,891.01

431.62 202.00 294.70-

67.00 HQ3 Surface 2004

Kingsnake BP05-01

2,344,443.52

482,901.52

228.77 22.00 129.50-


Kingsnake BP05-02

2,344,445.02

482,848.12

220.86 22.00 136.60-


Kingsnake BP05-03

2,344,442.87

482,901.30

228.83 22.00 158.00-


Kingsnake BP05-04

2,344,447.40

482,957.29

238.31 22.00 170.00-


Kingsnake BP05-05

2,344,465.38

483,018.76

244.11 22.00 135.00-


NamNoi BP06-02

2,343,154.91

482,993.14

510.01 22.26 99.70-

75.00 PQ Surface 2006

Adit7 BP06-01

2,343,874.98

482,642.69

219.91 110.26 41.00-


SuoiTao ST07-01

2,342,372.92

486,825.13

441.49 57.00 79.40-

56.00 NQ Surface 2007

SuoiTao ST07-02

2,342,356.00

486,814.77

452.87 48.00 126.00-


SuoiTao ST07-03

2,342,306.40

486,826.79

478.18 62.21 13.00-


KingsnakeBPN07-01

2,344,465.46

483,099.13

235.38 22.00 122.05

-50.00 NQ Surface 2007

KingsnakeBPN07-02

2,344,729.90

482,774.80

235.40 2.00 48.75

-30.00 NQ Surface 2007

BanPhuc BP07-01

2,343,615.74

481,940.93

544.17 22.26 110.00-




BanPhuc BP07-02

2,343,566.27

482,001.66

482.43 22.26 187.00-


BanPhuc BP07-03

2,343,695.72

482,095.34

477.96 202.26 152.30-


BanPhuc BP07-04

2,343,586.51

481,955.19

521.49 22.26 128.00-


BanPhuc BP07-05

2,343,714.25

481,711.27

340.06 22.26 200.40-


BanPhuc BP07-06

2,343,656.26

482,038.20

525.66 142.26 171.00-


BanPhuc BP07-07

2,343,671.33

482,058.78

510.67 142.26 119.60-


SuoiTao ST08-02

2,342,520.99

486,752.05

451.44 62.21 96.55-


SuoiTao ST08-03

2,342,424.98

486,784.25

460.05 62.21 110.60-


SuoiTaoST08-03B

2,342,424.43

486,783.23

460.12 242.21 102.20


SuoiTao ST08-04

2,342,424.94

486,784.28

460.05 62.21 32.90-


SuoiTao ST08-05

2,342,498.26

486,580.55

579.48 62.21 310.00-


SuoiTao ST08-06

2,342,737.10

486,291.38

492.98 62.21 298.30-


CoMuongCM08-01

2,341,621.49

483,812.85

318.29 112.26 50.00


CoMuongCM08-02

2,341,607.77

483,847.02

318.49 292.26 66.00


CoMuongCM08-03

2,341,578.79

483,857.11

317.94 292.26 66.80


BanPhuc BP08-01

2,343,764.25

481,974.73

468.44 202.26 184.50-


BanPhuc BP08-02

2,343,736.99

482,044.61

498.67 202.26 229.30-


BanPhuc BP08-03

2,343,683.14

482,044.18

510.51 142.26 192.00-


BanPhuc BP08-04

2,343,724.30

481,984.67

497.33 142.26 285.30-


BanPhuc BP08-05

2,343,728.32

482,067.82

487.34 202.25 263.80-


BanPhuc BP08-06

2,343,726.71

482,013.14

497.40 202.26 173.00-


BanPhuc BP08-07

2,343,720.66

482,021.60

497.74 142.26 265.80-


BanPhuc BP08-08

2,343,747.64

482,022.04

487.94 202.26 198.50-


BanPhuc BP08-09

2,343,702.06

482,035.38

508.29 142.26 206.90-


BanPhuc BP08-10

2,343,614.05

481,886.25

497.07 22.26 173.00-


BanPhuc BP08-11

2,343,662.96

481,906.31

498.81 22.26 74.40-


BanPhuc BP08-12

2,343,647.85

482,080.86

513.87 231.26 140.40-


BanPhuc BP08-13

2,343,682.32

481,903.50

499.81 22.26 82.00-


BanPhuc BP08-14

2,343,714.35

481,954.30

503.67 202.26 129.40-


BanPhuc BP08-15

2,343,648.08

482,081.18

513.83 231.26 154.80-


BanPhuc BP08-16

2,343,628.08

482,026.96

513.70 22.26 64.70-


BanPhuc BP08-17

2,343,705.32

481,999.54

505.32 142.26 238.00-


BanPhuc BP08-18

2,343,648.15

482,081.28

513.49 231.26 180.80-




BanPhuc BP08-19

2,343,575.07

482,048.60

497.45 202.26 165.70-


BanPhuc BP08-20

2,343,626.67

482,038.05

524.19 142.23 212.20-


BanPhuc BP08-21

2,343,752.50

481,996.20

479.22 142.26 268.88-


BanPhuc BP08-22

2,343,745.65

481,968.04

479.61 142.23 256.00-


BanPhuc BP08-32

2,343,736.68

482,043.41

497.27 202.23 237.40-


BanPhuc BP08-38

2,343,700.30

482,156.34

453.98 202.26 38.80-


BanPhuc BP08-39

2,343,520.43

482,118.07

425.18 22.26 35.20-


BanPhucBP201-06

2,343,693.07

481,878.12

445.58 202.26 14.50 45.00 BQ Adit 2008

BanPhucBP201-07

2,343,680.82

481,873.05

443.78 202.26 17.10 0.00 BQ Adit 2008

BanPhucBP201-08

2,343,692.56

481,877.81

442.70 202.26 24.00

-45.00 BQ Adit 2008

BanPhucBP201-18

2,343,649.31

481,914.07

446.86 22.26 21.00 60.00 BQ Adit 2008

BanPhucBP201-19

2,343,649.67

481,914.22

446.54 22.26 20.30 48.00 BQ Adit 2008

BanPhucBP201-20

2,343,649.96

481,914.46

445.70 22.26 22.10 30.00 BQ Adit 2008

BanPhucBP201-21

2,343,650.19

481,914.50

444.75 22.26 16.50 0.00 BQ Adit 2008

BanPhucBP201-22A

2,343,650.47

481,914.64

443.82 202.26 25.00

-25.00 BQ Adit 2008

BanPhucBP201-22B

2,343,650.46

481,914.62

443.82 22.26 38.20

-25.00 BQ Adit 2008

BanPhucBP201-28

2,343,643.24

481,925.52

444.74 22.26 16.20 0.00 BQ Adit 2008

BanPhucBP201-35

2,343,637.16

481,936.14

444.82 22.26 18.00 0.00 BQ Adit 2008

BanPhucBP201-47

2,343,622.97

481,957.44

445.04 22.26 15.00 0.00 BQ Adit 2008

BanPhucBP201-54

2,343,617.07

481,968.53

445.32 22.26 16.50 0.00 BQ Adit 2008

BanPhucBP201-63

2,343,612.14

481,980.00

445.46 22.26 15.00 0.00 BQ Adit 2008

BanPhucBP202-02

2,343,632.07

482,015.30

446.77 202.26 48.00 40.00 BQ Adit 2008

BanPhucBP202-03

2,343,631.92

482,015.23

446.55 202.26 12.00 29.00 BQ Adit 2008

BanPhucBP202-09

2,343,633.93

482,029.46

446.97 202.26 48.30 38.00 BQ Adit 2008

BanPhucBP202-10

2,343,633.84

482,029.48

446.51 202.26 40.80 21.00 BQ Adit 2008

BanPhucBP202-11

2,343,633.79

482,029.43

445.56 202.26 45.00 -5.00 BQ Adit 2008

BanPhucBP202-17

2,343,626.36

482,039.73

447.87 202.26 39.00 46.00 BQ Adit 2008

BanPhucBP202-18

2,343,625.88

482,039.68

446.83 202.23 45.00 29.00 BQ Adit 2008

BanPhucBP202-20

2,343,626.28

482,039.77

444.69 202.23 46.00

-23.00 BQ Adit 2008

BanPhucBP202-21

2,343,627.09

482,040.08

444.33 202.26 45.00

-46.00 BQ Adit 2008

BanPhucBP202-25

2,343,626.66

482,053.71

446.93 202.23 41.50 38.00 BQ Adit 2008

BanPhucBP202-26

2,343,626.28

482,053.40

446.06 202.23 44.70 20.00 BQ Adit 2008

BanPhucBP202-28

2,343,626.08

482,053.28

444.67 202.23 49.80

-23.00 BQ Adit 2008



BanPhucBP202-42

2,343,629.39

482,081.71

445.54 202.23 46.00 19.00 BQ Adit 2008

BanPhucBP202-44

2,343,629.16

482,081.61

444.61 202.23 32.30

-10.00 BQ Adit 2008

BanPhucBP202-45

2,343,629.15

482,081.60

443.78 202.23 34.40

-30.00 BQ Adit 2008

BanPhucBP202-48

2,343,629.67

482,081.85

446.52 202.23 43.00 40.00 BQ Adit 2008

BanPhucBP202-49

2,343,624.41

482,090.68

445.16 202.23 45.00 24.00 BQ Adit 2008

BanPhucBP202-51

2,343,624.29

482,090.58

443.73 202.23 50.00

-24.00 BQ Adit 2008

BanPhucBP202-56

2,343,728.03

482,066.62

445.81 202.23 39.00 51.00 BQ Adit 2008

BanPhucBP202-57

2,343,728.19

482,066.00

445.30 202.23 40.00 29.00 BQ Adit 2008

BanPhucBP202-59

2,343,728.71

482,065.01

442.80 202.23 45.00

-21.00 BQ Adit 2008

BanPhucBP202-65

2,343,625.11

482,121.61

445.79 202.26 25.00 33.00 BQ Adit 2008

BanPhucBP202-67

2,343,625.14

482,121.61

444.09 202.23 46.00

-31.00 BQ Adit 2008

BanPhucBP202-72

2,343,624.99

482,146.44

444.96 202.23 32.00

-24.00 BQ Adit 2008

BanPhucBP202-74

2,343,625.09

482,146.41

443.33 202.23 50.40

-31.00 BQ Adit 2008

BanPhucBP202-75

2,343,625.55

482,146.55

442.94 202.26 46.00

-45.00 BQ Adit 2008

BanPhucBP202-76

2,343,624.65

482,146.31

444.02 202.23 21.40 -5.00 BQ Adit 2008

BanPhucBP202-77

2,343,624.67

482,146.35

443.87 202.23 40.00

-10.00 BQ Adit 2008

BanPhucBP301-01

2,343,768.86

481,799.92

392.45 202.26 24.70

-45.00 BQ Adit 2008

BanPhucBP301-02

2,343,768.50

481,799.94

394.67 202.26 14.80 35.00 BQ Adit 2008

BanPhucBP301-04

2,343,768.86

481,799.92

392.45 202.26 37.30

-60.00 BQ Adit 2008

BanPhucBP301-05

2,343,738.53

481,805.24

393.91 22.26 33.90

-45.00 BQ Adit 2008

BanPhucBP301-06

2,343,738.84

481,805.25

393.93 22.26 58.20

-68.00 BQ Adit 2008

BanPhucBP301-07

2,343,744.09

481,817.82

393.68 22.26 29.70 0.00 BQ Adit 2008

BanPhucBP301-09

2,343,742.85

481,817.31

392.40 22.26 64.90

-70.00 BQ Adit 2008

BanPhucBP301-11

2,343,724.21

481,825.28

395.52 22.26 34.80 45.00 BQ Adit 2008

BanPhucBP301-12

2,343,724.25

481,825.34

392.68 22.26 38.00

-42.00 BQ Adit 2008

BanPhucBP301-13

2,343,722.08

481,824.47

392.66 22.26 45.00

-53.00 BQ Adit 2008

BanPhucBP301-14

2,343,723.69

481,825.08

395.73 22.26 33.40 63.00 BQ Adit 2008

BanPhucBP301-15

2,343,715.41

481,833.33

396.29 22.26 29.00 57.00 BQ Adit 2008

BanPhucBP301-15B

2,343,717.67

481,834.06

392.76 202.26 36.00

-57.00 BQ Adit 2008

BanPhucBP301-16

2,343,717.17

481,833.94

396.60 22.26 27.50 81.00 BQ Adit 2008

BanPhucBP301-17

2,343,715.71

481,833.32

392.80 22.26 11.30

-55.00 BQ Adit 2008

BanPhucBP301-17B

2,343,715.71

481,833.37

392.82 22.26 49.80

-65.00 BQ Adit 2008

BanPhucBP301-17C

2,343,717.88

481,834.17

396.47 202.26 26.90 55.00 BQ Adit 2008



BanPhucBP301-18

2,343,716.95

481,833.83

392.82 22.26 70.30

-80.00 BQ Adit 2008

BanPhucBP301-18A

2,343,727.17

481,851.45

393.99 202.26 56.90 0.00 BQ Adit 2008

BanPhucBP301-19

2,343,727.72

481,851.55

395.57 202.26 52.50 38.00 BQ Adit 2008

BanPhucBP301-20

2,343,728.31

481,851.93

392.82 202.26 71.00

-38.00 BQ Adit 2008

BanPhucBP301-21

2,343,727.60

481,851.59

392.82 202.26 58.00

-56.00 BQ Adit 2008

BanPhucBP301-22

2,343,722.55

481,863.13

394.34 202.26 55.00 0.00 BQ Adit 2008

BanPhucBP301-23

2,343,722.85

481,863.27

395.12 202.26 52.00 26.00 BQ Adit 2008

BanPhucBP301-24

2,343,722.21

481,862.97

393.25 202.26 45.00

-25.00 BQ Adit 2008

BanPhucBP301-25

2,343,722.97

481,863.38

396.02 202.26 57.00 42.00 BQ Adit 2008

BanPhucBP301-26

2,343,723.00

481,863.35

392.95 202.26 50.00

-47.00 BQ Adit 2008

BanPhucBP301-27

2,343,699.42

481,866.48

396.01 202.26 36.50 50.00 BQ Adit 2008

BanPhucBP301-28

2,343,698.95

481,866.28

395.36 202.26 39.00 32.00 BQ Adit 2008

BanPhucBP301-29

2,343,699.01

481,866.29

393.28 202.26 31.00

-45.00 BQ Adit 2008

BanPhucBP301-30

2,343,707.24

481,883.86

394.34 202.26 57.80 0.00 BQ Adit 2008

BanPhucBP301-32

2,343,707.07

481,883.81

393.04 202.26 53.40

-24.00 BQ Adit 2008

BanPhucBP301-34

2,343,707.07

481,883.80

393.46 202.26 37.30

-44.00 BQ Adit 2008

BanChang BC08-01

2,342,350.28

483,850.01

560.25 25.00 302.25-


BanChang BC08-02

2,342,136.55

484,275.37

647.85 25.00 400.80-


BanPhuc BP09-01

2,343,853.06

481,795.02

406.33 202.26 281.10-


BanPhuc BP09-02

2,343,934.85

481,693.40

326.95 22.26 399.10-


BanMongBM09-01

2,347,581.07

472,540.96

334.28 59.00 32.10


BanMongBM09-02

2,347,555.77

472,521.05

360.28 50.00 64.30


BanMongBM09-03

2,347,738.22

472,431.76

283.44 60.00 43.00


BanMongBM09-04

2,347,689.97

472,461.48

292.62 70.00 22.90


BanMongBM09-05

2,347,569.41

472,595.82

341.85 225.00 42.00


BanPhuc BP10-01

2,343,866.47

481,719.19

380.96 202.26 264.70-


BanPhuc BP10-02

2,343,915.23

481,790.59

360.71 202.26 270.10-


BanPhuc BP10-03

2,343,958.89

481,757.13

345.12 202.26 372.40-


BanPhuc BP13-01

2,343,870.21

481,802.03

394.33 202.26 170.00-


BanPhuc BP13-02

2,343,870.39

481,802.09

394.37 202.26 210.50-


BanPhuc BP13-03

2,343,893.07

481,946.43

436.24 202.26 361.00-


BanPhuc BP13-04

2,343,873.80

482,046.59

439.06 202.26 342.20-


BanPhuc BP13-05

2,343,868.44

482,057.25

439.00 202.26 374.00-




BanPhuc BP13-06

2,343,867.55

482,098.07

449.15 202.26 342.80-


BanPhuc BP13-07

2,343,828.26

482,136.02

445.35 202.26 364.70-


BanPhuc BP13-08

2,343,693.02

482,188.70

441.84 202.26 197.50-


BanPhuc BP13-09

2,343,856.34

482,120.61

447.00 202.26 347.70-


SuoiPhang SP14-01

2,350,100.90

471,392.76

214.83 75.00 68.90-


SuoiPhang SP14-02

2,350,122.37

471,336.38

200.95 20.00 75.00-


SuoiPhang SP14-03

2,350,149.99

471,291.92

167.12 55.00 50.45-


SuoiPhang SP14-04

2,350,089.12

471,439.86

238.20 269.25 59.00-


BanPhuc BP14-01

2,344,102.68

481,762.10

375.66 202.26 427.10-


BanPhuc BP14-02

2,343,926.36

481,852.01

396.89 202.26 391.20-


BanPhuc BP14-03

2,343,882.98

481,891.40

402.65 203.76 408.00-


BanPhuc BP14-04

2,343,985.52

481,822.18

392.06 202.26 400.55-


BanPhuc BP14-05

2,343,830.41

482,136.80

445.31 202.26 423.95-


BanPhuc BP14-06

2,343,870.42

482,099.20

449.00 202.26 455.58-


UGBanPhucBPUG15-01

2,343,669.43

481,872.27

135.09 76.26 196.60

-24.00 HQ Underground 2015

UGBanPhucBPUG15-02

2,343,668.93

481,871.10

134.82 81.26 228.30


UGBanPhucBPUG15-03

2,343,668.85

481,872.36

135.04 329.26 268.21


UGBanPhucBPUG15-04

2,343,610.86

481,976.57

155.00 90.26 277.44


UGBanPhucBPUG15-05

2,343,655.42

481,947.69

149.14 30.26 106.60


BanPhucEast

BPE15-01

2,343,471.89

482,104.13

410.14 24.26 300.30


BanPhucEast

BPE15-02

2,343,516.95

482,195.73

397.67 21.26 175.00


BanPhucEast

BPE15-03

2,343,436.85

482,301.15

357.86 22.26 131.00


BanPhucEast

BPE15-04

2,343,483.01

482,202.91

379.12 22.26 146.75


BanPhucEast

BPE15-05

2,343,463.16

482,251.41

367.83 22.26 128.90


KingsnakeWest KS16-01

2,344,526.12

482,376.39

209.94 #REF! 220.80


KingsnakeWest KS16-02

2,344,686.86

482,469.05

162.91 #REF! 225.30


BanPhuc LK01

2,343,787.75

481,852.82

456.25 202.00 200.48-

70.00 PQ Surface1960-1963

BanPhuc LK02

2,343,632.02

482,224.06

451.69 202.00 140.10-

60.00 PQ Surface1960-1963

BanPhuc LK03

2,343,699.46

482,031.90

508.39 202.00 187.89-

60.00 PQ Surface1960-1963

BanPhuc LK04

2,343,844.10

481,872.84

409.03 202.00 250.11-

70.00 PQ Surface1960-1963

BanPhuc LK05

2,343,758.39

482,062.89

493.88 202.00 261.68-

70.00 PQ Surface1960-1963

BanPhuc LK06

2,343,692.17

482,247.64

402.68 202.00 206.10-

70.00 PQ Surface1960-1963

BanPhuc LK07

2,343,752.01

481,942.62

474.57 202.00 178.05-

65.00 PQ Surface1960-1963



BanPhuc LK08

2,343,706.65

482,143.59

453.45 202.00 157.50-

60.00 PQ Surface1960-1963

BanPhuc LK09

2,343,817.30

481,973.07

445.56 202.00 234.30-

60.00 PQ Surface1960-1963

BanPhuc LK10

2,343,707.70

482,143.60

453.65 202.00 164.05-

70.00 PQ Surface1960-1963

BanPhuc LK11

2,343,701.02

482,033.15

508.42 202.00 203.55-

70.00 PQ Surface1960-1963

BanPhuc LK12

2,343,923.36

481,797.77

359.33 202.00 157.00-

60.00 PQ Surface1960-1963

BanPhuc LK13

2,343,586.27

482,305.95

421.12 202.00 194.14-

70.00 PQ Surface1960-1963

BanPhuc LK14

2,343,818.04

481,973.88

445.54 202.00 337.20-

73.00 PQ Surface1960-1963

BanPhuc LK15

2,343,707.70

482,146.22

453.56 202.00 271.30-

80.00 PQ Surface1960-1963

BanPhuc LK16

2,343,816.90

481,973.45

445.59 202.00 295.70-

70.00 PQ Surface1960-1963

BanPhuc LK17

2,343,815.19

482,195.49

417.49 202.00 281.42-

65.00 PQ Surface1960-1963

BanPhuc LK18

2,343,844.32

481,766.50

405.54 202.00 157.30-

73.00 PQ Surface1960-1963

BanPhuc LK19

2,344,120.40

481,654.02

358.95 202.00 98.02-

90.00 PQ Surface1960-1963

BanPhuc LK20

2,343,633.77

482,224.60

451.68 202.00 158.70-

75.00 PQ Surface1960-1963

BanPhuc LK21

2,343,924.10

481,798.61

359.33 202.00 326.70-

79.00 PQ Surface1960-1963

BanPhuc LK22

2,343,642.60

482,333.33

377.09 202.00 222.90-

60.00 PQ Surface1960-1963

BanPhuc LK23

2,343,509.59

482,386.40

348.75 202.00 168.33-

80.00 PQ Surface1960-1963

BanPhuc LK24

2,343,843.59

481,869.93

414.00 202.00 220.34-

65.00 PQ Surface1960-1963

BanPhuc LK25

2,343,760.31

482,065.68

493.78 202.00 459.05-

85.00 PQ Surface1960-1963

BanPhuc LK26

2,343,904.57

481,901.70

416.93 202.00 238.75-

85.00 PQ Surface1960-1963

BanPhuc LK27

2,343,655.15

482,119.17

493.45 202.00 160.85-

75.00 PQ Surface1960-1963

BanPhuc LK28

2,344,223.46

481,703.40

341.78 202.00 125.95-

70.00 PQ Surface1960-1963

BanPhuc LK29

2,343,939.88

482,026.82

425.27 22.00 365.75-

80.00 PQ Surface1960-1963

BanPhuc LK30

2,344,038.92

481,853.00

429.46 202.00 233.67-

85.00 PQ Surface1960-1963

BanPhuc LK31

2,344,286.40

481,729.16

324.84 202.00 112.15-

90.00 PQ Surface1960-1963

BanPhuc LK32

2,344,358.92

481,763.16

324.45 22.00 75.00-

90.00 PQ Surface1960-1963

BanPhuc LK33

2,343,692.35

482,246.80

402.58 202.00 252.27-

80.00 PQ Surface1960-1963

BanPhuc LK34

2,343,784.22

482,287.71

341.36 202.00 250.60-

70.00 PQ Surface1960-1963

BanPhuc LK35

2,343,791.70

482,073.47

488.27 202.00 388.65-

75.00 PQ Surface1960-1963

BanPhuc LK36

2,344,227.85

481,922.38

363.14 22.00 179.79-

90.00 PQ Surface1960-1963

BanPhuc LK37

2,343,903.28

482,008.82

446.07 202.00 508.83-

85.00 PQ Surface1960-1963

BanPhuc LK38

2,344,121.80

481,877.90

394.86 22.00 247.70-

85.00 PQ Surface1960-1963

BanPhuc LK39

2,343,509.48

482,387.98

348.75 202.00 126.73-

60.00 PQ Surface1960-1963

BanPhuc LK40

2,344,291.26

481,622.23

310.29 292.00 63.85-

65.00 PQ Surface1960-1963



BanPhuc LK41

2,344,059.01

481,743.04

370.18 202.00 146.45-

90.00 PQ Surface1960-1963

BanPhuc LK42

2,344,172.17

481,790.46

374.92 202.00 219.45-

90.00 PQ Surface1960-1963

BanPhuc LK43

2,344,281.84

481,835.34

346.37 202.00 141.30-

90.00 PQ Surface1960-1963

BanPhuc LK44

2,343,995.79

481,937.73

464.26 202.00 366.50-

90.00 PQ Surface1960-1963

BanPhuc LK45

2,344,087.54

481,970.85

399.94 22.00 295.85-

85.00 PQ Surface1960-1963

BanPhuc LK46

2,343,764.13

482,066.36

493.36 22.00 466.10-

75.00 PQ Surface1960-1963

BanPhuc LK47

2,343,955.33

482,132.16

385.98 202.00 311.80-

70.00 PQ Surface1960-1963

BanPhuc LK48

2,344,332.96

481,641.79

296.26 22.00 198.95-

65.00 PQ Surface1960-1963

BanPhuc LK49

2,344,233.41

481,597.26

334.25 202.00 83.73-

90.00 PQ Surface1960-1963

BanPhuc LK50

2,343,904.19

481,900.34

416.94 202.00 375.98-

70.00 PQ Surface1960-1963

BanPhuc LK51

2,343,903.11

481,900.43

416.94 202.00 354.00-

65.00 PQ Surface1960-1963

BanPhuc LK52

2,344,089.77

481,970.68

399.94 22.00 270.75-

70.00 PQ Surface1960-1963

BanPhuc LK53

2,344,051.09

482,059.04

422.17 202.00 375.30-

75.00 PQ Surface1960-1963

BanKhoa BK01

2,345,201.95

482,208.68

246.10 22.00 73.80-

90.00 PQ Surface1960-1963

BanKhoa BK02

2,345,165.41

482,298.85

312.94 22.00 219.42-

90.00 PQ Surface1960-1963

BanKhoa BK03

2,345,133.51

482,402.82

350.65 22.00 273.53-

90.00 PQ Surface1960-1963

BanKhoa BK03D

2,345,132.69

482,383.10

336.69 202.00 299.84-

90.00 PQ Surface1960-1963

BanKhoa BK04

2,345,216.40

482,438.66

346.94 22.00 163.10-

90.00 PQ Surface1960-1963

BanKhoa BK05

2,345,255.87

482,340.08

290.68 22.00 100.80-

90.00 PQ Surface1960-1963

BanKhoa BK06

2,345,074.37

482,257.90

253.56 22.00 120.02-

90.00 PQ Surface1960-1963

BanKhoa BK07

2,345,035.28

482,348.97

275.60 22.00 238.80-

90.00 PQ Surface1960-1963

BanKhoa BK08

2,345,036.24

482,349.21

276.09 22.00 133.20-

75.00 PQ Surface1960-1963

BanKhoa BK09

2,345,210.73

482,320.03

304.18 22.00 212.69-

90.00 PQ Surface1960-1963

BanChang BCLK1

2,342,632.67

483,755.51

593.31 22.00 147.58-

69.00 PQ Surface1960-1963

BanChang BCLK2

2,342,533.61

484,043.11

631.85 22.00 125.82-

68.00 PQ Surface1960-1963

BanChang BCLK3

2,342,457.78

484,230.49

663.43 22.00 118.53-

60.00 PQ Surface1960-1963

BanChang BCLK4

2,342,621.19

484,079.00

676.38 202.00 134.20-

60.00 PQ Surface1960-1963

BanChang BCLK5

2,342,534.00

483,935.95

616.63 22.00 149.82-

65.00 PQ Surface1960-1963



Documents

NI 43-101 TECHNICAL REPORT ON THE TA KHOA (Ni Cu Co ± … · 2019-12-31 · ni 43-101 technical report on the ta khoa (ni cu co ± pge) prospects, son la province, vietnam for asian