Significant expansion to Central Rutile Project
Released
Released
Announcement PDF
ASX Announcement
ASX:DY6
8 July 2025
DY6 significantly expands size of the Central Rutile Project
HIGHLIGHTS
▪
DY6 has acquired 100% of 6 exploration licence applications prospective for
Rutile and Heavy Mineral Sands (HMS) projects in Cameroon
▪
The acquisition significantly increases DY6’s landholding in central Cameroon
to 4,974km2 from 2,124km2. With the inclusion of the Douala Basin HMS Project,
DY6 now holds 100% of 7,554km2 of licences in Cameroon
▪
The new licences will be incorporated into Company’s Central Rutile Project and
sit immediately south of Peak Minerals’ (ASX:PUA) Minta Project
▪
During the recent due diligence site visit undertaken by the Company and its
technical consultants, both alluvial and eluvial (residual) sources of rutile and
HMS were observed
DY6 Metals Ltd (ASX: DY6, “DY6” or “Company”) is pleased to announce the acquisition of
100% of 6 exploration licence applications (which make up the Weaver Project) prospective
for Rutile and Heavy Mineral Sands (HMS) in Central Cameroon (Acquisition). The
Acquisition will see the Weaver Project be integrated into the Company’s existing Central
Rutile Project, significantly expanding the project landholding from 2,124km2 to 4,974km2
(Figure 1). The 6, contiguous licences, are underlain by a bedrock of kyanite-bearing mica
schist which is thought to be the primary source of the rutile, which is then concentrated and
upgraded within the overlying saprolite material during the in-situ weathering process. The
most eastern licence, Ayene II, is underlain by alkaline intrusions and granitoids, with
similarities to Minta Est, which has returned high-grade monazite (up to 73%) and zircon (up
to 28%)1.
During the recent due diligence site visit undertaken by the Company and its technical
consultants, alluvial and eluvial (residual) sources of rutile and HM were observed across the
new licence areas.
Executive Chairman, Dan Smith, commented: “The acquisition of this new licence package
more than doubles our landholding in this highly prospective area of Central Cameroon.
Desktop work as well as a recent due diligence site visit, indicates that the Weaver Project
area is underlain by the same favourable geology that we have seen at our existing Central
Rutile Project. We are also highly encouraged by the results that Peak Minerals has reported
to date from their Minta Project which borders us to the north and look forward to getting back
in the field.”
Cautionary Statement: The Company cautions that, with respect to any visual mineralisation
indicators, visual observations and estimates of mineral abundance and uncertain in nature and should
not be taken as a substitute or proxy for appropriate laboratory analysis. Visual estimates also
potentially provide no information regarding impurities or deleterious physical properties relevant to
valuations. Assay results from the drilling and sampling programmes will be required to understand the
grade and extent of mineralisation. Initial assay results are expected in the September quarter.
1
Refer Peak Minerals ASX Announcement dated 19 June 2025 “High value rare earth-rich monazite assemblage confirmed at Minta Est”
Registered Office
Level 8, 99 St Georges Terrace
Perth WA 6000
P: +61 8 9486 4036
E: info@dy6metals.com
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A World Class Project in an Emerging, Globally Significant Rutile Province
With the acquisition of the six Weaver licence applications, the newly expanded Central Rutile
Project now includes a total of 11 exploration licences under application covering a total
landholding of 4,974km2. This project is predominantly underlain by the same kyanite-bearing
mica schist unit which is interpreted to be the primary source of the rutile in this region.
The Central Cameroon area has long been known to contain rutile with historical production
of high purity (>95 %) rutile recorded from artisanal mining of the alluvial deposits around
Nanga-Eboko between 1935 and 1955.
Recent studies have highlighted the similarities of the region to the Lilongwe Plain of Central
Malawi where Sovereign Metals is busy developing the Tier 1 Kasiya Project, which is currently
noted as the world largest primary rutile deposit with a resource of 1.8 billion tons at 1.0%
rutile.
Similar to Kasiya, the Central Cameroon region has the same high grade metamorphic bed
rock geology, in the form of a kyanite-bearing mica schist, as well as a deep in-situ saprolitic
weathering profile. These factors make this region highly prospective for residual, in-situ,
saprolite hosted natural rutile deposits, analogous to Kasiya.
Central Cameroon is fast emerging as a globally significant rutile province and DY6’s newly
expanded Central Rutile Project comprises just under 5,000km2 of world class tenure directly
within the heart of it.
Figure 1: Map of Central Cameroon showing DY6’s newly acquired six Weaver licences to the southeast which will be incorporated into the Central Rutile Project together with the company’s original 5
licences.
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Figure 2: Regional geological map of Central Cameroon showing DY6’s Central Rutile Project, along
with Peak Minerals’ Minta Project, both underlain by a sequence of high-grade paragneisses and
schists.
Due diligence sampling at the Weaver Project
During a recent site visit to Cameroon by the Company’s management and technical team,
the Company undertook a due diligence reconnaissance auger and channel sampling
programme at the Weaver. The Company completed 1 auger drill hole, collecting 4 samples
in the process, as well as collected 22 channel samples from 4 road cutting exposures in order
to assess the residual, eluvial rutile potential of the project. A further 4 stream sediment
samples were panned to visually assess HM concentrate (refer Tables 1-3).
Table 1: Reconnaissance auger drill hole completed at the Weaver Project showing maximum visual
estimates of HM% from panned concentrate of the 1m samples.
Hole ID
Licence
Coordinate
System
Northing
Easting
EOH
Depth
Max
Visual
Estimate
Comment
SOLAU0001
Soleye
UTM_33N
422060
262745
3m
2%
Fine grained HM
Cautionary Statement: The Company cautions that, with respect to any visual mineralisation indicators, visual
observations and estimates of mineral abundance and uncertain in nature and should not be taken as a substitute
or proxy for appropriate laboratory analysis. Visual estimates also potentially provide no information regarding
impurities or deleterious physical properties relevant to valuations. Assay results from the drilling and sampling
programmes will be required to understand the grade and extent of mineralisation. Initial assay results are expected
in the September quarter.
dy6metals.com | ASX:DY6 3
Table 2: Reconnaissance channel sample localities completed at the Weaver Project showing
maximum visual estimates of HM% from panned concentrate of the 1m samples.
Hole ID
Licence
Coordinate
System
Northing
Easting
EOH
Depth
Max
Visual
Estimate
Comment
BISGB0001
Bissoua II
UTM_33N
418064
258004
5m
2.5%
Fine grained HM
SOLGB0001
Soleye
UTM_33N
429564
261712
4m
1%
Fine grained HM
SOLGB0002
Soleye
UTM_33N
434336
257069
8m
1%
Fine grained HM
SOLGB0003
Soleye
UTM_33N
435695
254391
5.6m
10%
Fine grained HM
Incl. 5% rutile
Table 3: Reconnaissance stream sediment samples from the Weaver Project showing maximum visual
estimates of HM% from panned concentrate of the 1m samples. These samples were panned for visual
HM estimates and weren’t retained for assays (due to the focus being on the residual potential of the
project).
Hole ID
Licence
Coordinate
System
Northing
Easting
Max
Visual
Estimate
Comment
BISTT0001
Bissoua II
UTM_33N
412990
257986
5%
Dark, fine HMC
BISTT0002
Bissoua II
UTM_33N
411990
257082
5%
Fine grained HM
BISTT0003
Bissoua II
UTM_33N
409536
253992
5%
Fine grained HM
BISTT0004
Bissoua II
UTM_33N
410163
253624
5%
Fine grained HM
Note that all the hand auger and road-cutting channel samples showed visible HM after
panning. This is considered highly promising in terms of the project being prospective for
residual natural rutile mineralization.
Cautionary Statement: The Company cautions that, with respect to any visual mineralisation indicators, visual
observations and estimates of mineral abundance and uncertain in nature and should not be taken as a substitute
or proxy for appropriate laboratory analysis. Visual estimates also potentially provide no information regarding
impurities or deleterious physical properties relevant to valuations. Assay results from the drilling and sampling
programmes will be required to understand the grade and extent of mineralisation. Initial assay results are expected
in the September quarter.
dy6metals.com | ASX:DY6 4
Figure 3: One metre samples from the SOLAU0001 hand auger hole.
Figure 4: One metre channel sample locations from the BISGB0001 road-cutting exposure.
dy6metals.com | ASX:DY6 5
Figure 5: One metre channel sample locations from the SOLGB0001 road-cutting exposure.
Figure 6: One metre channel sample locations from the SOLGB0002 road-cutting exposure.
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Figure 7: One metre channel sample locations from the SOLGB0003 road-cutting exposure.
Figure 8: Due-diligence sampling localities within the newly acquired Weaver package.
dy6metals.com | ASX:DY6 7
Key terms of the Acquisition
The Company has entered into a binding agreement with Gondwana Capital Pty Ltd, the
vendor of NEM Minerals Pty Ltd (NEM) to acquire 100% of the issued capital of NEM. The
vendor is not a related party of the Company. The Company confirms that Gondwana
Capital is a company associated with Technical Consultant, Mr Cliff Fitzhenry.
NEM, through its wholly owned Cameroonian subsidiary, Weaver Resources Ltd, is the 100%
legal and beneficial owner of 6 valid exploration permit applications comprising the Weaver
Project, as set out in the Annexure.
In consideration for the Acquisition, subject to shareholder approval, the Company will pay the
Vendors the following:
•
Upfront Consideration:
o
o
•
$125,000 in cash; and
2,000,000 fully paid ordinary shares at a deemed issue price of $0.10 per share
(approximate value of $200,000),
(together, the Upfront Consideration).
Deferred Consideration:
6 months post Settlement, DY6 will pay to the Vendors (by way of electronic transfer
into an account or accounts as nominated by the Vendors) the sum of A$125,000 in
cash (Deferred Cash Consideration);
o 12 months post Settlement, DY6 will issue to the Vendors 2,000,000 fully paid
ordinary shares in the Company, each having a deemed issue price of $0.10 per
Share (Deferred Share Consideration); and
o The existing Performance Rights the subject of the previous transaction between
DY6 and the Vendors will apply to and incorporate the Weaver Tenements. (together,
the Deferred Consideration).
o
The issue of the securities constituting the Upfront Consideration and Deferred Consideration
will be issued out of the Company’s existing capacity pursuant to ASX Listing Rule 7.1.
The binding agreement otherwise contains terms and conditions considered standard for
agreements of this nature.
ASX has also determined that there is no requirement for the Company to seek its
shareholders' approval under Listing Rule 11.1.2 for, nor to re-comply with ASX's admission
tests prior to, the Acquisition detailed above.
Background on the Central Rutile and Weaver Projects
The Central Rutile Project consists of 5 exploration permits (Nganda, Bounde, Kombo, Alamba
and Nsimbo) under valid applications covering 2,124km2 across an area rapidly emerging as
a globally significant rutile province within Central Cameroon. The Weaver Project consists of
6 exploration permits (Awae, Ayene II, Assi, Bissoua 2, Soleye and Soleye West) under valid
applications covering 2,850km2. The project area is predominantly underlain by kyanitebearing mica schist bedrock, which is considered the primary source of rutile. During in-situ
weathering, rutile is liberated from the bedrock and progressively concentrated and upgraded
within the overlying saprolite layer. This forms an in-situ, eluvial saprolite hosted rutile deposit
target type deposit analogous to Sovereign Metal’s Tier 1 Kasiya deposit in Malawi (the world’s
largest primary rutile deposit at 1.8 billion tons at 1.0% rutile).
dy6metals.com | ASX:DY6 8
The exploration model further proposes that subsequent erosion and fluvial transport rework
these materials, concentrating rutile and other valuable heavy minerals into alluvial deposits.
Historical production figures from the area between 1935 and 1955 have recorded some
15,000 tons of high purity (>95 %) rutile being produced from artisanal mining of the alluvial
deposits around Nanga-Eboko. The Central Rutile Project borders Peak Mineral’s Minta Rutile
Project where initial sampling has revealed widespread, high-value mineral assemblages with
valuable heavy minerals (VHM) up to 93% of total heavy minerals (THM) and with the
dominant VHM’s being rutile (up to 69.8%), monazite (up to 35.6%) and zircon (up to 21.5%)
(see PUA Announcement “First systematic exploration programme discovers significant rutile
province in Cameroon” dated 4 February 2025).
Figure 9: Map showing DY6’s total landholding in Central Cameroon which includes the Douala Basin
HMS Project and the newly expanded Central Rutile Project.
-ENDSThis announcement has been authorised by the Board of DY6.
More information
Mr Daniel Smith
Mr John Kay
Mr Cliff Fitzhenry
Executive Chairman
Director & Company Secretary
Technical Consultant
dan.smith@dy6metals.com
john.kay@dy6metals.com
Clifford.fitzhenry@dy6metals.com
dy6metals.com | ASX:DY6 9
Competent Person Statement
The information contained in this announcement that relates to geological information and exploration
results at the Central Rutile Project, is based on information compiled by Mr Richard Stockwell, a
Competent Person who is a Fellow of The Australian Institute of Geoscientists. Mr Stockwell is a
consultant to the company and has sufficient experience which is relevant to the style of mineralization
and type of deposit under consideration and to the activity which he is undertaking to qualify as a
Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves’. Mr Stockwell consents to the inclusion in this
announcement of the matters based on his information in the form and context in which it appears.
Forward-Looking Statements
This announcement may include forward-looking statements and opinions. Forward-looking
statements, opinions and estimates are only predictions and are subject to risks, uncertainties and
assumptions which are outside the control of DY6 Metals Ltd. Past performance is not necessarily a
guide to future performance and no representation or warranty is made as to the likelihood of
achievement or reasonableness of any forward-looking statements, opinions or estimates. Actual
values, results or events may be materially different to those expressed or implied in this
announcement.
Given these uncertainties, readers are cautioned not to place reliance on forward-looking statements,
opinions or estimates. Any forward-looking statements, opinions or estimates in this announcement
speak only at the date of issue of this announcement. Subject to any continuing obligations under
applicable law and the ASX Listing Rules, DY6 does not undertake any obligation to update or revise
any information or any of the forward-looking statements opinions or estimates in this announcement
or any changes in events, conditions or circumstances on which any such disclosures are based.
Appendix:
Table 4: Licence tenement details of the DY6’s Douala Basin HMS and Central Rutile Projects in
Cameroon.
Tenement
Name
Project
Name
Holder
Application
Date
Area
Granted
Date
Mungo
Mbanga
Maleke
Diwong
Mbongo
Edea Sud
Nganda
Nsimbo
Kombo
Bounde
Alamba
Awae
Ayene II
Assi
Bissoua _II
Soleye
Soleye_W
Douala
Douala
Douala
Douala
Douala
Douala
Central
Central
Central
Central
Central
Central
Central
Central
Central
Central
Central
Rhino Resources Ltd
Rhino Resources Ltd
Rhino Resources Ltd
Rhino Resources Ltd
Rhino Resources Ltd
Rhino Resources Ltd
Gorilla Mining Ltd
Gorilla Mining Ltd
Gorilla Mining Ltd
Gorilla Mining Ltd
Gorilla Mining Ltd
Weaver Resources Ltd
Weaver Resources Ltd
Weaver Resources Ltd
Weaver Resources Ltd
Weaver Resources Ltd
Weaver Resources Ltd
29/06/2022
29/06/2022
30/01/2024
30/01/2024
30/09/2022
29/06/2022
19/02/2025
19/02/2025
19/02/2025
19/02/2025
19/02/2025
07/07/2025
07/07/2025
07/07/2025
07/07/2025
23/06/2025
23/06/2025
483km2
468km2
491km2
484km2
214km2
440km2
396km2
495km2
460km2
425km2
348km2
462km2
497km2
488km2
441km2
466km2
496km2
14/12/2022
14/12/2022
N/A
N/A
N/A
14/12/2022
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
dy6metals.com | ASX:DY6 10
JORC Code, 2012 Edition – Table 1 report
Section 1 – Sampling Techniques and Data
Criteria
Sampling Techniques
JORC Code explanation
Nature and quality of sampling (eg cut channels, random chips, or
specific specialised industry standard measurement tools appropriate
to the minerals under investigation, such as down hole gamma sondes,
or handheld XRF instruments, etc). These examples should not be
taken as limiting the broad meaning of sampling.
Include reference to measures taken to ensure sample representivity
and the appropriate calibration of any measurement tools or systems
used.
Aspects of the determination of mineralisation that are Material to the
Public Report.
In cases where ‘industry standard’ work has been done this would be
relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m
samples from which 3 kg was pulverised to produce a 30 g charge for
fire assay’). In other cases, more explanation may be required, such as
where there is coarse gold that has inherent sampling problems.
Unusual commodities or mineralisation types (eg submarine nodules)
may warrant disclosure of detailed information.
Commentary
Auger Drilling
•
Samples collected using a manual hand auger with a 75 mm and 100mm diameter
bit.
•
Drilling targeted weathered saprolite profiles
•
Samples taken at regular 1 m intervals downhole from surface (maximum ~9 m).
•
No lithological (horizons) were crossed in sampling.
•
Industry-standard practice was used in the processing of samples for assay.
Channel sampling
•
Channel samples were collected along exposed road cuttings and in the filed
•
Channels were cleared of loose debris, weathered material, and vegetation prior
to sampling.
•
Samples collected at consistent 1 m intervals
•
No lithological (horizons) were crossed while sampling
•
Industry-standard practice was used in the processing of samples for assay.
Stream sediment sampling
•
Sediment samples were collected from active high and low stream channels for
visual confirmation only.
•
Targeted locations included inner bends, sediment traps
•
~1 kg of sediment collected using a shovel or trowel for panning.
•
Sample information was recorder at the time of sampling included, colour,
lithology, texture, stream location and mineralization.
•
The sample was only collected for visual confirmation and no assays will be
completed on stream sediment samples released in this release
Cautionary statement.
The visual representation of heavy mineral (HM) and rutile mineralisation shown in this
release is based on preliminary visual reconnaissance with no sampling results. Assay
results are pending and have not yet been verified through laboratory analysis and
expected in September 2025. Investors are cautioned that the information is indicative
only and should not be relied upon as a definitive measure of mineralisation or
economic potential. Further exploration and analytical testing are required to confirm
the extent, grade, and economic viability of the mineralisation.
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Drilling techniques
Drill type (eg core, reverse circulation, open-hole hammer, rotary air
blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or
standard tube, depth of diamond tails, face- sampling bit or other type,
whether core is oriented and if so, by what method, etc)
Auger drilling
•
Vertical hand auger drilling conducted using a manually rotated auger with 75 mm
and 100mm diameter bit.
•
Drilling continued until blade refusal.
•
Maximum hole depth varied by terrain (generally <9 m).
•
No drilling fluids, casing, or downhole equipment used.
•
Drilling suitable for near-surface geochemical sampling.
Drill sample recovery
Method of recording and assessing core and chip sample recoveries
and results assessed.
Auger Drilling
•
Hand auger drilling does not provide continuous core; recovery is based on
volume retrieved per 1m interval.
•
Sample quality and recovery were monitored in the field and deemed acceptable;
any compromised samples were noted and excluded if necessary.
•
No specific measures (e.g., twin holes, weights, or drilling additives) were used to
improve recovery, as hand auger is a basic geochemical technique.
Measures taken to maximise sample recovery and ensure
representative nature of the samples.
Whether a relationship exists between sample recovery and grade and
whether sample bias may have occurred due to preferential loss/gain
of fine/coarse material.
Logging
Whether core and chip samples have been geologically and
geotechnically logged to a level of detail to support appropriate Mineral
Resource estimation, mining studies and metallurgical studies.
Whether logging is qualitative or quantitative in nature. Core (or
costean, channel, etc) photography.
The total length and percentage of the relevant intersections logged.
Auger Drilling
•
Sample information was recorder at the time of sampling included colour, lithology,
texture, alteration, moisture and mineralization.
•
GPS coordinates recorded at each site using handheld GPS (±5 m accuracy).
Channel sampling
•
Sample information was recorder at the time of sampling included colour, lithology,
texture, alteration, moisture and mineralization.
•
GPS coordinates recorded at each site using handheld GPS (±5 m accuracy).
Stream sediment sampling
•
Sample information was recorder at the time of sampling included, colour,
lithology, texture, stream location and mineralization.
•
GPS coordinates recorded at each site using handheld GPS (±5 m accuracy).
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Sub- sampling techniques
and sample preparation
If core, whether cut or sawn and whether quarter, half or all core taken.
If non-core, whether riffled, tube sampled, rotary split, etc and whether
sampled wet or dry.
Auger, Channel and Streams samples were panned in the field
•
Material was manually panned in the field to produce a heavy mineral concentrate
(~200g).
•
Panning aimed to concentrate rutile and other heavy minerals for visible
assessment
For all sample types, the nature, quality and appropriateness of the
sample preparation technique.
Quality control procedures adopted for all sub-sampling stages to
maximise representivity of samples.
Measures taken to ensure that the sampling is representative of the insitu material collected, including for instance results for field
duplicate/second-half sampling.
Quality of assay data and
laboratory tests
Whether sample sizes are appropriate to the grain size of the material
being sampled.
The nature, quality and appropriateness of the assaying and laboratory
procedures used and whether the technique is considered partial or
total.
•
•
Not applicable in this release
Assays pending
For geophysical tools, spectrometers, handheld XRF instruments, etc,
the parameters used in determining the analysis including instrument
make and model, reading times, calibrations factors applied and their
derivation, etc.
Nature of quality control procedures adopted (eg standards, blanks,
duplicates, external laboratory checks) and whether acceptable levels
of accuracy (ie lack of bias) and precision have been established
Verification of sampling and
assaying
The verification of significant intersections by either independent or
alternative company personnel.
The use of twinned holes.
•
•
•
•
No third-party verification recorded.
No twinned boreholes were drilled.
Not recorded in the documentation provided to the consultant.
No adjustments to data have been recorded.
Documentation of primary data, data entry procedures, data
verification, data storage (physical and electronic) protocols.
Location of data points
Discuss any adjustment to assay data.
Accuracy and quality of surveys used to locate drill holes (collar and
down-hole surveys), trenches, mine workings and other locations used
in Mineral Resource estimation.
Auger, Channel, Grab and stream sediment sampling
•
Hand-held Garmin G65S GPS.
•
UTM WGS84 Sector 33N.
Specification of the grid system used.
Quality and adequacy of topographic control
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Data spacing and
distribution
Data spacing for reporting of Exploration Results.
Whether the data spacing and distribution is sufficient to establish the
degree of geological and grade continuity appropriate for the Mineral
Resource and Ore Reserve estimation procedure(s) and classifications
applied.
•
•
•
Data spacing is not applicable for the release.
Reconnaissance program is not sufficient to establish a Mineral resource and or
reserve
Samples were composited on length weighted basis to calculate weighted
average grades downhole.
Whether sample compositing has been applied.
Orientation of data in
relation to geological
structure
Whether the orientation of sampling achieves unbiased sampling of
possible structures and the extent to which this is known, considering
the deposit type.
•
•
If the relationship between the drilling orientation and the orientation of
key mineralised structures is considered to have introduced a sampling
bias, this should be assessed and reported if material.
The measures taken to ensure sample security.
•
•
Sample security
The results of any audits or reviews of sampling techniques and data.
•
Drilling is completed in a vertical orientation with hand auger sampler orientated
by eye.
The program is at an early reconnaissance stage and was designed to test
surface and near-surface stratigraphy in residual regolith material. All holes were
drilled vertically. No clear mineralised structures have been identified to date, and
no sampling bias due to drilling orientation is considered material at this stage.
All samples were collected and accounted for by DY6 employees/consultants. All
samples were bagged into plastic bags and closed with cable ties.
The appropriate manifest of sample numbers and a sample submission form
containing laboratory instructions will be submitted to the laboratory on delivery to
South Africa
No independent audits or reviews data have been undertaken.
Audits or reviews
Section 2: Reporting of Exploration Results
Criteria
Mineral tenement and land
tenure status
Exploration done by other
parties
JORC Code explanation
Commentary
Type, reference name/number, location and ownership including
agreements or material issues with third parties such as joint ventures,
partnerships, overriding royalties, native title interests, historical sites,
wilderness or national park and
environmental settings.
Refer Appendix 1. Mungo, Mbanga and Mbongo are granted Permits held in name of
Rhino Resources Ltd. Maleke, Edea Sud and Diwong (formerly Missole) are Permit
applications by Rhino Resources. Nganda, Nsimbo, Kombo, Bounde and Alamba are
all Permit applications by Gorilla Mining Ltd. Awae, Ayene II, Assi, Bissoua II, Soleye
and Soleye W are Permit applications by Weaver Resources Ltd.
The security of the tenure held at the time of reporting along with any
known impediments to obtaining a licence to operate in the area
Acknowledgment and appraisal of exploration by other parties.
No expiry date set. No impediments.
The company is not aware of any historical exploration done on the Central project
related to this release
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Geology
Deposit type, geological setting and style of mineralisation.
Drill hole Information
A summary of all information material to the understanding of the
exploration results including a tabulation of the following information for
all Material drill holes:
o easting and northing of the drill hole collar
o elevation or RL (Reduced Level – elevation above sea level in
metres) of the drill hole collar
o dip and azimuth of the hole
o down hole length and interception depth
o hole length.
If the exclusion of this information is justified on the basis that the
information is not Material and this exclusion does not detract from the
understanding of the report, the Competent Person should clearly
explain why this is the case.
Data aggregation methods
In reporting Exploration Results, weighting averaging techniques,
maximum and/or minimum grade truncations (eg cutting of high
grades) and cut-off grades are usually Material and should be stated.
Where aggregate intercepts incorporate short lengths of high-grade
results and longer lengths of low-grade results, the procedure used for
such aggregation should be stated and some typical examples of such
aggregations should be shown in detail.
The assumptions used for any reporting of metal equivalent values
should be clearly stated.
Relationship between
mineralisation widths and
intercept lengths
These relationships are particularly important in the reporting of
Exploration Results.
If the geometry of the mineralisation with respect to the drill hole angle
is known, its nature should be reported.
If it is not known and only the down hole lengths are reported, there
should be a clear statement to this effect (eg ‘down hole length, true
width not kn
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