Bekanntmachung • Feb 24
Ore Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 7.5 million. Ore Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 7.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 121,379,312
Price\Range: AUD 0.058
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 7,931,036
Price\Range: AUD 0.058
Transaction Features: Subsequent Direct Listing New Risk • Jan 03
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 20% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 40% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (16% average weekly change). Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (AU$46.3m market cap, or US$31.0m). Board Change • Dec 24
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Technical Director & Director Robin Cox is the most experienced director on the board, commencing their role in 2023. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Bekanntmachung • Dec 12
Ore Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 7.5 million. Ore Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 7.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 121,379,312
Price\Range: AUD 0.058
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 7,931,036
Price\Range: AUD 0.058
Transaction Features: Subsequent Direct Listing Bekanntmachung • Sep 27
Future Battery Minerals Limited, Annual General Meeting, Nov 19, 2025 Future Battery Minerals Limited, Annual General Meeting, Nov 19, 2025. Board Change • Aug 18
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Technical Director & Director Robin Cox is the most experienced director on the board, commencing their role in 2023. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Bekanntmachung • May 27
Future Battery Minerals Ltd Announces Key Gold Prospects Identified At Miriam Future Battery Minerals Ltd. announced that it has completed its review of available historical geological and drilling data for its recently consolidated and now 100%-owned Miriam Project, which is located in the W.A. Goldfields region of Western Australia. The Miriam Project tenure covers a region of the Coolgardie Greenstone Belt overlying a suite of mafic and ultramafic units along with felsic intrusives. Miriam also overlies formations and structural trends that host multiple nearby gold deposits, including Horizon Minerals' Burbanks (466 koz @ 2.4 g/t Au), Beacon Minerals' McPhersons Reward (132 koz @ 1.2 g/t Au) and Focus Minerals' Coolgardie Operations (2.7 Moz @ 1.8 g/t Au). Evidence of historic artisanal mining is readily apparent within and outlying the Miriam Project tenure from when the region was subject to intense gold prospecting following initial discovery in the 1890's. It was within these historic shafts and workings where spodumene bearing pegmatites were first observed in 2022. While modern exploration is limited within the Miriam Project tenure area, multiple gold occurrences have been recorded and are available on the Mines and Mineral Deposits Public Database (MINEDEX), provided by the Department of Mines and Industry Regulation and Safety (DEMIRS). Multiple prospective gold occurrences were previously identified within the Miriam Project tenure including Forest, Goroke and Burbanks Monarch. Any future gold discoveries at the Miriam Project will benefit from exceptional commercialisation optionality with several operating gold mills in close proximity to the area. The Burbanks Mine, which is located only 1 km north of the Miriam Project tenure, contains a mill and processing plant owned by Auric Mining. The Greenfields Mill, owned and operated by FMR Investments, and the Three Mile Hill Mill, owned and operated by Focus Minerals, are approximately 16 kilometres by a sealed road to the north-east. Following its recent ownership consolidation, FBM has completed a geology and drilling data review of the Miriam Project. This review included the collation of all historical drill hole data for the tenure and validation of assay methods to better understand the reported gold occurrences in the area. While the region was subjected to artisanal mining and prospecting following discovery in the 1890's, the review highlighted that no drilling had occurred since the early 2000's. Previous drilling also appears to have been relatively limited to the Forrest prospect (gold) and the Miriam prospect (nickel), also noting that many of the holes drilled at the Miriam prospect were not assayed for gold. At Forrest, drilling during the late 1990's discovered and intersected multiple flat lying lodes of gold mineralisation within regolith and bed rock. Mineralisation is consistent over a strike length greater than 600m highlighting near surface intersections. Significant intersections returned from this drilling included: 12m @ 2.09g/t from Au from 60m (MRC97-15), 10m @ 2.51g/t from Au from 30m (FGA002), 10m @ 2.09 g/t Au from 30m and 4m @ 4.86 g/t Au from 73m (MRC97-5), 5m @ 7.35 g/t Au from 70m (MRC97-25), 8m @ 1.63 g/t Au from 28m (MRC97-17), 9m @ 1.07 g/t Au from 51m (MRC97-12). Drilling was conducted on 40m x 60m grid with many holes only testing down to a planned depth of 80m. Extensional air core drilling completed in the early 2000's also only reached depths of approximately 60m on average. Geological logs collected have limited recorded details making it difficult to determine key information such as depth of oxidation or rock textures and structures. FBM has identified multiple areas where the Forrest system may remain open, particularly to the North East and South West. These zones are planned to be tested as part of its maiden Miriam drilling programme. This programme is also planned to provide confirmation on previous intercepts, including delivering key geological information required for a potential Mineral Resource estimate. Wide spaced drilling conducted to the south of Forrest has also intercepted two additional prospective zones known as Forrest South and Jungle. The intercepts remain open and further drilling is required to understand the potential scale of mineralisation, however these prospects represents opportunities for further growth. Key intercepts include; 16m @ 0.93g/t Au from 44m (LDC7) Forrest South, 4m @ 3.77g/t Au from 94m (FGC001) Jungle, 10m @ 0.62g/t from 30m (DPR022) Jungle. FBM has also investigated other regional occurrences such as Goroke (5m @ 2.3 g/t Au from surface and 12m @ 1.04g/t from 15m) and Burbanks Monarch (10m @ 0.9 g/t Au from 30m). Only limited drilling has tested these occurrences and more work is required to better evaluate their potential. Key intercepts from Goroke and Burbanks Monarch Include; 5m @ 2.3 g/t Au from surface (MID014) Goroke, 12m @ 1.04g/t Au from 15m (FGA059) Goroke, 5m @ 1.94g/t Au from 25m (FGA073) Burbanks Monarch, 10m @ 0.90g/t from 30m (FGA050) Burbanks Monarch. Burbanks Grand Junction in the north FBM located historic drilling data, with further confirmation work required to evaluate this prospect. To the south of the Forrest and Forrest South prospects, there is limited recorded recent drilling and gold assay data. FBM plans to evaluate this area through surface geochemistry and geophysical interpretation. FBM is fully permitted to conduct exploration and drilling activities over the Miriam Project tenure, with an approved Conservation Management Plan and granted drilling Program of Work (PoW) currently in place. Most of the Miriam tenure has already been surveyed by the relevant Native Title Party representative, meaning FBM can rapidly advance towards drill testing of any priority drill targets. A litho-geophysical and geochemical review of the Miriam Project has commenced in order to better define the key structural gold targets that have been identified. Following this work, an initial RC drill programme designed to test these prospective gold targets is planned to commence in July 2025. Board Change • Feb 04
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Technical Director & Director Robin Cox is the most experienced director on the board, commencing their role in 2023. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Bekanntmachung • Nov 21
Austroid Corporation completed the acquisition of 80% stake in Nevada Lithium Pty Ltd from Future Battery Minerals Limited (ASX:FBM) for AUD 4 million. Austroid Corporation agreed to acquire 80% stake in Nevada Lithium Pty Ltd from Future Battery Minerals Limited (ASX:FBM) for AUD 4 million on November 4, 2024.
The transaction expected to complete in Q4 2024.
Austroid Corporation completed the acquisition of 80% stake in Nevada Lithium Pty Ltd from Future Battery Minerals Limited (ASX:FBM) on November 20, 2024. Bekanntmachung • Nov 05
Austroid Corporation agreed to acquire 80% stake in Nevada Lithium Pty Ltd from Future Battery Minerals Limited (ASX:FBM) for AUD 4 million. Austroid Corporation agreed to acquire 80% stake in Nevada Lithium Pty Ltd from Future Battery Minerals Limited (ASX:FBM) for AUD 4 million on November 4, 2024.
The transaction expected to complete in Q4 2024. Bekanntmachung • Oct 01
Future Battery Minerals Limited, Annual General Meeting, Nov 26, 2024 Future Battery Minerals Limited, Annual General Meeting, Nov 26, 2024. New Risk • Sep 29
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 26% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Shareholders have been diluted in the past year (30% increase in shares outstanding). Market cap is less than US$100m (AU$15.3m market cap, or US$10.6m). New Risk • Jul 30
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$15.2m (US$9.96m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 26% per year over the past 5 years. Shareholders have been substantially diluted in the past year (55% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$15.2m market cap, or US$9.96m). Minor Risk Share price has been volatile over the past 3 months (14% average weekly change). New Risk • May 26
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 54% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$10m free cash flow). Earnings have declined by 26% per year over the past 5 years. Shareholders have been substantially diluted in the past year (54% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$27.7m market cap, or US$18.4m). New Risk • Apr 10
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$10m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$10m free cash flow). Earnings have declined by 26% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (49% increase in shares outstanding). Market cap is less than US$100m (AU$33.8m market cap, or US$22.4m). Board Change • Jan 25
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Non-Executive Director Nev Power was the last director to join the board, commencing their role in 2023. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Bekanntmachung • Jan 24
Auroch Minerals Limited Commences Drilling At Nevada Lithium Project (Nlp) Auroch Minerals Limited announced the commencement of reverse circulation (RC) drilling at its 80% owned Nevada Lithium Project (NLP) in Nevada, USA.Permitting for drilling activities and environmental bonds have now been approved for San Antone East and Western Flats. The 3,000m programme is to test the Siebert Formation, which comprises tertiary aged sediments from or near surface. Within the Siebert Formation, the Company is exploring for the presence of claystone lithologies elevated in lithium (Li). The Siebert Formation is known to host American Lithium's nearby TLC deposit and is therefore considered by the Company to be extremely prospective. Intercepts >300ppm Li will be considered anomalous and indicative of Li bearing claystone. Alford Drilling LLC, based out of the nearby mining town of Elko, has been contracted to complete the maiden programme with the Company's in-country team supervising the work. Pleasingly, Technical Director Robin Cox is on the ground for the commencement of the programme. During this initial drill programme, the Company will drill test the San Antone East and Western Flats prospects. Post drilling, further work is planned at the remaining three prospects, Traction, Lone Mountain and Heller to get them drill ready in the coming months. Given the first pass nature of this programme, holes have been planned on wide scale spacing to aid the Company's understanding of the prospect stratigraphy. This will allow for more targeted drilling in the following phases of exploration at the NLP. Holes will be drilled between 150-200m in-depth and the programme is expected to take approximately five weeks. All samples will be submitted to ALS laboratory services in Reno, Nevada. The NLP is located in the Esmeralda and Nye counties of the mining friendly state of Nevada. The Project is serviced by the historic silver mining town of Tonopah, which, as stated above, hosts American Lithium Corp.'s TLC deposit of 4.2Mt Lithium Carbonate Equivalent (LCE) measured resources (4.63Mt LCE Indicated resources and 1.86Mt LCE Inferred resources). Located ~50km to the south west of Tonopah Flats is Loneer's Rhyolite Ridge deposit (1.25Mt contained LCE and 11.9Mt contained H2BO3). Both these deposits are hosted within the lacustrine derived tertiary claystone which Auroch is hoping to find. Bekanntmachung • Jan 18
Auroch Minerals Limited Commences Reverse Circulation Drilling Targeting Lithium Pegmatites At the Kangaroo Hills Lithium Project (KHLP) in Western Australia Auroch Minerals Limited announced Reverse Circulation (RC) drilling has commenced targeting lithium pegmatites at the Kangaroo Hills Lithium Project (KHLP) in Western Australia (WA) (Auroch Minerals 80%, Lodestar Minerals Ltd. 20%). The 3,000m programme which is being carried out by WA based RC drilling company; Australian Surface Exploration Pty Ltd. will drill up to ten, 250m depth angled drill holes. The programme will test three identified pegmatite targets as defined by the recently completed mapping and sampling programme. Of highest priority is the mineralised pegmatite swarm which returned peak assays of 2.37% Li2O only earlier this month. Selective drill holes will also test for potential strike continuation of the initial discovery hole NPRC084 6m @ 1.38% Li2O from 198m. Drilling is expected to be concluded in three to four weeks. All pegmatite intercepts will be submitted for assay and the company will also evaluate the Nickel sulphide potential of all intercepted komatiite ultra mafics. Bekanntmachung • Jan 17
Auroch Minerals Limited Announces Assay Results from Pegmatite Rock Chip Samples Taken At the Kangaroo Hills Lithium Project in Western Australia Auroch Minerals Limited announced assay results from pegmatite rock chip samples taken at the Kangaroo Hills Lithium Project (KHLP) in Western Australia. Assay results of these samples have exceeded expectations with 2.37% Li2O (ND28060) and 0.17% Li2O (ND28059) being returned. Significantly, the mineralised outcrops are located over 600m south-east of drill hole NPRC084 where lithium (Li) mineralisation was first observed at KHLP (6m @ 1.38% Li2O from 198m) in November 2022, potentially expanding the mineralised footprint of the project. The samples are located in the centre of a cluster of outcropping pegmatites making this area a high priority drill target. Following the return of the laboratory assay results the Li bearing minerals were identified in rock chips using a SciAps portable LIBS analyser. All elevated Li samples are now undergoing Semi Quantitative X-Ray Diffraction (XRD) analysis to confirm mineralogy. Mapping and rock chip sampling was completed in December 2022 and identified numerous outcropping pegmatites. The purpose of the programme was to gain sufficient geochemical data to identify pathfinder elements and to understand fractionation trends and prospectivity of the pegmatites present at surface. While it was anticipated that Lithium -Caesium -Tantalum (LCT) mineralisation could be present, it was expected to be low in grade due to the weathered nature of the outcrops, therefore it was exciting to discover high grade Li within outcrop. In addition to the mineralised outcrops, assays returned anomalous Caesium, Tantalum and Tin, all of which are considered pathfinder minerals of LCT pegmatites. The distribution of these anomalies, expand the prospectivity of the project area. The larger geochemical assay suite has been used to identify relative fractionation trends which will be tested in the next reverse circulation (RC) drilling programme which will commence this month. The first phase RC drilling programme will test three high priority drill targets, which the Company plans to undertake later this month. Bekanntmachung • Jan 13
Auroch Minerals Limited Announces an Update of Exploration Activities at its 80% Owned Nevada Lithium Project (NLP) in Nevada, USA Auroch Minerals Limited announced an update of exploration activities at its 80% owned Nevada Lithium Project (NLP) in Nevada, USA. Since acquiring the NLP in June 2022, the Company has conducted extensive geological mapping and basin modelling to identify suitable drill targets within the project area. As part of this undertaking, vacant ground outside the project area was reviewed with the aim of increasing the Project's footprint. Two strategic land parcels that are believed to host lithium bearing claystone were identified and have subsequently been staked. The first parcel of land surrounds the San Antonne East claim area. This area has now been expanded with an additional 128 contiguous claims. A second large land parcel to the north of Lone Mountain was also identified as being prospective given the recent drilling success of American Battery Technology Company where two phases of drilling have identified lithium (Li) bearing claystone with peak Li concentrations of 1,940ppm. A total of 253 contiguous claims were staked over the vacant area which is now known as Western Flats. Western Flats' claims abut ABTC's Tonopah Flats Project and is close to American Lithium Corp.'s TLC deposit (4.2Mt Lithium Carbonate Equivalent measured resources, 4.63Mt LCE Indicated resources and 1.86Mt LCE Inferred resources). Standard Bureau of Land Management (BLM) mining claims have been staked to secure the new targets. The claims are staked at a block size of 1,500 foot length by 600 foot width, or approximately 457m length by 183m width. In total, Auroch has increased its land holding in the Tonopah region by over 33km which represents a 50% increase of the NLP footprint. Permitting approval has been received to commence drilling activities at San Antonne, while permitting applications have been submitted to the BLM for other target areas. Alford Drilling LLC from Elko Nevada has been contracted to commence a 3,000m reverse circulation (RC) programme from late January. The programme will commence at San Antonne East (SAE), with the drilling of identified stratigraphic targets to confirm and evaluate the Li claystone potential of this area. Bekanntmachung • Jan 03
Auroch Minerals Limited, Annual General Meeting, Feb 03, 2023 Auroch Minerals Limited, Annual General Meeting, Feb 03, 2023, at 13:00 W. Australia Standard Time. Location: Suite 10, 38-40 Colin Street, West Perth, WA 6005 West Perth Australia Agenda: To elect Robin Cox as a director; to approve employee incentive plan; to issue performance rights to Robin Cox under the employee incentive plan; to ratify placement shares; to issue broker options; to change company name; and to consider other matters. Board Change • Nov 17
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Non-Executive Director Trevor Eton was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 27
No independent directors There are 3 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). CEO, MD & Director Aidan Platel is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Director Overboarding • Aug 20
Director Michael Edwards has joined 5th company board Michael Edwards has been appointed to the board of Barra Resources Limited (ASX:BAR). Edwards now sits on a total of 5 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Director Overboarding • Aug 20
Director Michael Edwards has joined 5th company board Michael Edwards has been appointed to the board of Barra Resources Limited (ASX:BAR). Edwards now sits on a total of 5 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Director Overboarding • Aug 20
Director Michael Edwards has joined 5th company board Michael Edwards has been appointed to the board of Barra Resources Limited (ASX:BAR). Edwards now sits on a total of 5 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Director Overboarding • Aug 20
Director Michael Edwards has joined 5th company board Michael Edwards has been appointed to the board of Barra Resources Limited (ASX:BAR). Edwards now sits on a total of 5 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Director Overboarding • Aug 20
Director Michael Edwards has joined 5th company board Michael Edwards has been appointed to the board of Barra Resources Limited (ASX:BAR). Edwards now sits on a total of 5 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Executive Departure • Jul 13
Company Secretary & Financial Controller James Bahen has left the company On the 30th of June, James Bahen's tenure as Company Secretary & Financial Controller ended. We don't have any record of a personal shareholding under James' name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 3.08 years. Is New 90 Day High Low • Feb 12
New 90-day high: AU$0.31 The company is up 63% from its price of AU$0.19 on 13 November 2020. The Australian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 21% over the same period. Is New 90 Day High Low • Jan 18
New 90-day high: AU$0.23 The company is up 41% from its price of AU$0.16 on 21 October 2020. The Australian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 22% over the same period. Is New 90 Day High Low • Nov 07
New 90-day high: AU$0.21 The company is up 156% from its price of AU$0.082 on 07 August 2020. The Australian market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is down 7.0% over the same period. Bekanntmachung • Sep 24
Auroch Minerals Limited Announces RC Drilling Commences at Recently Acquired Firefly and Sinclair North Prospects, Part of the Leinster Nickel Project in Western Australia Auroch Minerals Limited announced RC drilling has commenced at the recently acquired Firefly and Sinclair North prospects, part of the Leinster Nickel Project (Leinster) in Western Australia. The 1,000m drill programme will be Auroch's first phase of exploration on these prospects after entering into a binding agreement with Jindalee Resources to earn up to 70% of a four tenement package. The two prospects are situated on the tenement E36/895, which is contiguous to the Company's 100%-owned E36/899 tenement that hosts the Horn nickel sulphide prospect. Historic RAB drilling on both prospects identified fertile nickeliferous ultramafic units in the weathered and transition zones, with the best intercepts including: 23m at 0.53% Ni from 13m, including 1m at 0.86% Ni from 22m (LWDR2399), 5m at 0.74% Ni from 44m (07BWDR0011), 4m at 0.53% Ni from 16m (06BWDR0158). Auroch has utilised this wide-spaced drill-hole data to map out a footwall ultramafic basalt footwall contact over 1.3km long which will now be tested for nickel sulphide mineralisation. The drilling will aim to test the modelled contact within fresh rock at a down-hole depth of approximately 100m. Three holes have been planned at the Firefly Prospect and two at the Sinclair North Prospect. All holes will be cased to allow for follow-up DHEM surveys to identify any strong conductors in the areas such as potential massive nickel sulphide mineralisation. Drilling is expected to be completed within two weeks. The second phase of exploration at the Valdez Nickel Prospect has now been completed. Four RC holes for 1,478m were completed and all four intersected thick fertile ultramafic units up to 180m thick (down-hole width). The drill-holes are currently being logged and sampled, and will be surveyed with DHEM next week, with all results to be used for targeting for the next phase of exploration. 
