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With every company and thought leader I listen to, I am learning more and more about what makes a good mineral province. It is amazing what you learn when you start listening to the stories of people in different industries sharing their knowledge and experiences. Definitely one of the big perks of growing older - we gain experience and insights. We are like wine, the older it is, the more interesting the depth of flavours. In geology, especially mineral geology, I have learned that finding great deposits is all about understanding the regional geology. Once you have understood the provincial aspects, the local geology specifications become clearer. What this means is, investors who want to know the likelihood of discovery, the likelihood of mineral exploration success and hence the probability of investment success should just stop and look at the bigger picture first. I know there are other non-geological aspects that are equally or more important, but one has to recognise that science and facts do not allow the truth to be stretched. The Colombian Story I first came across the Colombian story almost 5 years ago when I came to know about Andes Resources Limited. Andes was unlisted at that time and has now resurfaced with a new name as Los Cerros Limited (ASX: LCL) . Prior to this, I have never looked at Colombia as a resource jurisdiction. I suspect this is due mainly to the lack of visibility in the ASX. I was privileged enough to have Jason Stirbinskis on Coffee with Samso - Los Cerros Limited (ASX: LCL) - A High-Grade Gold Porphyry Story in Colombia to talk about the project. While researching for our conversation on Coffee with Samso, I learnt about the prospectivity of this little part of the South American continent. I dare say that I am not the only one who does not know much about the prospectivity of Colombia. What is so Interesting about Colombian Geology ? As we have discussed in a previous Samso Insight - New England Fold Belt - Critical Resources Limited (ASX: CRR) - the importance of understanding the potential of a project/deposit is underlined by the understanding of the tectonic history/controls. What I mean is, do the potential geological controls allow the story to be achievable? Does the stated resource potential have any chance of being attained? The Andes can be divided into the Northern Central and Southern. The Colombian story is in the Northern Andes and it consists of three cordilleras ( Western, Central and Eastern), which are themselves internally complex as well (Figure 1A and 1 B). Figure 1: A: Tectonic scheme of northern South America and the Caribbean (Gómez et al., 2015a, 2015b). [1]. B: Lithotectonic map of the Northern Andes showing the location of the Miocene Buriticá, Quinchía, Marmato, and La Colosa gold deposits (modified from Cediel et al., 2003). [5] This region is complicated in the sense that there are subducting plates and then there is lateral movement of plates as well. As you read, I will try and explain in layman´s terms what it means when I say that the mineralisation can be directly related to the level of magmatism. To put it simply, it appears that certain types of subduction activities do not create volcanic activities and hence, a lack of mineralisation (Figure 1B). Tectonic Activity According to [1], the tectonic framework of Colombia (Figure 1A) is influenced by the interaction between the Caribbean and Nazca oceanic plates, and the South American continental plate, with ocean ridges, oceanic trenches, subduction zones, accretionary prisms,formation belts, transform faults, and several other structural elements, as defined by [2] and [3] based on the findings of numerous researchers (Figure 1A, 3A and 3B). To say this is an oyster of structural complexity would be an understatement. The more I read about the geology, the more it starts to make sense to me. What is obvious is that we are looking at a serious subduction zone - the Northern Andes is a series of plate consumption and plate creation. What this means for the average investor is that the structural component of the cooking mechanism means the mineralisation process is in place. Like all scientific explanations, there are a lot of variables that create outliers, so I will try to stay as basic as I can. Geology and Magmatism It is obvious then, that the rocks (Figure 2) in this area is the product of the subduction zones and the collision of the three plates and the segmentation of plates. Looking at the geological map, you can make a safe assumption that the majority of magmatism is concentrated with the three structural corridors of Western, Central and Eastern Cordillera. Figure 2: Geological map of Colombia. After Gómez et al. (2019).[1] What is interesting is that [4] talked about how the level of volcanism is restricted to the central region, between the eastern portion of the Western Cordillera and the Central Cordillerra. You can see the the results of that paper in Figure 3B below. Figure 3: A : Main geological structures of Colombia. After Gómez et al. (2019). [1] B Seismicity and volcanism of NW South America. Black arrows indicate plate velocity relative to stable South America [Trenkampet al., 2002], red triangles indicate volcanoes. Coloured circles indicate earthquakes recorded during 1993–2009. Earthquake data are downloaded from National Earthquake Information Center website (NEIC, ttp://earthquake.usgs.gov/regional/neic/). [4] It is not surprising then that Epithermal and Porphyry style deposits dominate this province. Tectonic settings like this discussion is the prime candidate for creating a recipe for large high grade deposits that are being discovered in the last decades. That line of red triangles in Figure 3A is also consistent with the known giant deposits that are in Colombia. There is a glimpse of that in Figure 1B where the massive Buritica Gold Deposit headlines that northern trend and the recent discovery of the Alpala (Cascabel) discovery by SolGold sits at the bottom end of that trend in Ecuador (See Figure 4A and 4B). Figure 4: A The summary of the Buritica Gold Mine [6]. B The overview of the Alpala deposit by SolGold. [7] Magmatic Belts and Ore Deposits [5] talks about six magmatic belts with ages from Triassic to Neogene . I won´t bore you with what they mean but it is sufficient to say that they are very young and are forming geologically even as you read these words. In fact, this is not far from the truth as magmatic activities are brewing literally today. As I mentioned earlier, the main type deposits are Porphyry Cu- (Au-Mo) and Epithermal Au-Ag deposits. In the above section, I have listed two known giant deposits. There are still relatively few discoveries and that may be solely due to the geopolitical issues in the past. Figure 5 below is a good depiction of the type of ore deposits in Colombia based on the ages and the structural constraints and the volcanic activity shown in Figure 3B. Figure 5: Gold metallogenic belts and major Mesozoic and Cenozoic intrusive rocks of Colombia (modified from [8], and [9]) [5] There is this consistent reference to that region where we see the most volcanic activity. Conclusion Whenever I do my research when preparing for a Samso Insights, there are always lots to learn. In January 2020, I published Copper Porphyry Districts - Chile & Associates which was a pretty long blog. It was a 12 minute read, and in terms of attention span, it really tested readers. But that Insight was a real eye opener for me. As I mentioned, the Colombian mineralisation story was only something on my radar screen after I did the Coffee with Samso with Los Cerros Limited. I must say that I did not know that there was such a a thing as a high grade porphyry gold deposit. What is interesting is that even today, investors in the Australian Stock Exchange (ASX) are not fully well-versed in the potential of Porphyries and Epithermal deposits as being a giant target. There aren´t too many stories in the market place now that are in the same league as the Los Cerros of the market. Just look at Cadia-Ridgeway (NSW, Australia), Ok Tedi (Papua New Guinea), Bougainville Copper (Bougainville), Batu Hijau (Indonesia), Grasberg (West Papua, Indonesia), Tujuh Bukit (Indonesia), Bingham Canyon Mine (USA), Escondida (Chile)...etc these are mines that go for generations. When I look at what Los Cerros have and the results they are releasing lately, I can´t help but think that the limiting factor for the company is funding. The Quinchia deposit is a well-known Colombian deposit and when you look closer, there are satellite deposits as well. I came across [10] and wanted to share this (Figure 6) as it shows that the Los Cerros project is not some unknown topic. The whole Colombian story is a revelation for me. At this time with the geopolitical situation and the onset of rising interest rates, having a large high-grade gold deposit will be a good story. Figure 6: Location maps of the study areas. A) Middle Cauca Au-Cu belt in northwest Colombia within the Northern Andes. Western Colombia geologic terranes including the Cajamarca-Valdivia para-autochthonous terrane (hatched), the Romeral mélange terrane (black) and western allochthonous terranes (gray) are shown (Cediel et al., 2003). B) Location of principal porphyry and epithermal deposits within the Middle Cauca Au-Cu belt, including the Quinchía district and the El Poma prospect. Occurrences of garnets in late Miocene porphyries and the Colombia Formation mentioned in the text are also indicated. The geologic terranes of western Colombia (see also A) and their major bounding fault systems are labeled. C) and D) Simplified geologic maps of the Quinchía district and El Poma prospect, respectively. Principal porphyry and epithermal deposits within the Quinchía district, as well as garnet-bearing porphyry occurrences at Tesorito and El Poma prospects are indicated. Reference 1. Gómez, J., Núñez–Tello. A., Mateus–Zabala, D., Alcárcel–Gutiérrez, F.A., Lasso–Muñoz, R.M., Marín–Rincón, E. & Marroquín–Gómez, M.P. 2020. Physiographic and geological setting of the Colombian territory. In: Gómez, J. & Mateus–Zabala, D. (editors), The Geology of Colombia, Volume 1 Proterozoic – Paleozoic. Servicio Geológico Colombiano, Publicaciones Geológicas Especiales 35, p. 1–16. Bogotá. 2. Gómez, J., Montes, N.E., Nivia, Á. & Diederix, H., compilers. 2015. Geological Map of Colombia 2015. Scale 1:1 000 000. Servicio Geológico Colombiano, 2 sheets. Bogotá. https://doi. org/10.32685/10.143.2015.936 3. Gómez, J., Nivia, Á., Montes, N.E., Diederix, H., Almanza, M.F., Alcárcel, F.A. & Madrid, C.A. 2015b. Explanatory notes: Geological Map of Colombia. In: Gómez, J. & Almanza, M.F. (editors), Compilando la geología de Colombia: Una visión a 2015. Servicio Geológico Colombiano, Publicaciones Geológicas Especiales 33, p. 35–60. Bogotá 4. Claudio Chiarabba, Pasquale De Gori, Claudio Faccenna, Fabio Speranza, Danilo Seccia, Viviana Dionicio, and German A. Prieto  2015. Subduction system and flat slab beneath the Eastern Cordillera of Colombia. Geochem. Geophys. Geosyst., 17, pp16-27. 5. Guillaume Lesage, Jeremy P. Richards, Karlis Muehlenbachs, Terry L. Spell, 2013. Geochronology, Geochemistry, and Fluid Characterization of the Late Miocene Buriticá Gold Deposit, Antioquia Department, Colombia. Economic Geology ; 108 (5): pp1067–1097. 6. https://www.zijinmining.com/ 7. https://www.solgold.com.au/ 8. Aspden, J.A., McCourt, W.J., and Brook, M., 1987, Geometrical control of subduction-related magmatism: The Mesozoic and Cenozoic plutonic history of western Colombia: Journal of the Geological Society of London, v.144, pp. 893–905. 9. Sillitoe, R.H., 2008, Major gold deposits and belts of the North and South American Cordillera: Distribution, tectonomagmatic settings, and metallogenic considerations: ECONOMIC GEOLOGY, v. 103, pp. 663–687 10. Thomas Bissig, Hildebrando Leal-Mejía, Roger B. Stevens, and Craig J.R. Hart, 2017. High Sr/Y Magma Petrogenesis and the Link to Porphyry Mineralization as Revealed by Garnet-Bearing I-Type Granodiorite Porphyries of the Middle Cauca Au-Cu Belt, Colombia. Economic Geology, Vol 112, pp 551-568. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer.

Standing looking at the drilling and mineralisation trends of the Lake Austin Gold Project, I was trying to remember what is so familiar about this place.  I kept looking for something familiar, and I can see the words, Lena Shear, but I kept thinking I know this place.  I was intrigued by this Lake Austin Gold Project.  The fundamentals have indeed perked my curiosity.  I started talking to management to learn the story.  I told them that I know the Tuckabianna project and  I had walked all around the project in another career path.  This Lake Austin Gold Project seems to remind me of something south-east of Cue or south-east of Mount Magnet. The Lake Austin Gold Project are all within a 30km radius from the township of Cue.  The mining town of Cue is about 650km north-northeast from Perth, Western Australia (Figure 2).  As many would know, Cue is no stranger to mining. This Murchison region is one of the most endowed goldfields in Western Australia with gold mines producing in multiple of millions of ounces.  The mining centre of Mount Magnet, Cue and Meekatharra has been active for decades, especially in the 1990s.  I was informed by “experts” that the gold nuggets you find in the Murchison are cleaner and purer, but I don’t know how much is myth or truth. In 2008, when I was making my first trip as Exploration Manager for Silverlake Resources Limited (ASX:  SLR), I met a prospector who had these nuggets shown in Figure1.  He told me the story about how Murchison gold is the best, and I guess it must be true.  Don’t all prospectors know everything……… Musgrave Minerals Limited (ASX: MGV) I came to know about Musgrave Minerals when I attended a presentation in Perth organised by Cannings Purple several weeks ago.  Hence when I participated at the RIU Conference in Sydney in May 2019, I was keen to catch up and get an update on the projects. After the initial presentation in Perth, I felt that this Lake Austin Gold Project had a lot of promise. These big intercepts were worthy of being a discovery.  I don’t doubt that there is a big story here, but I was just conscious of the grades.  They were not too shallow, also, which was my main concern. When I talked to Musgrave in more detail, I realised that although my initial concerns were valid, what I was learning is that we could be dealing with a much bigger system.  The real light bulb moment for me is just a few days ago. I realised why this place was so familiar.  This Break of Day project was the old Moyagee project from my days at Silverlake Resources.  When I realised this and knowing the discovery to date, I was suddenly very optimistic about the project. So much so that I started doing some Samso style research.  This also explained how Silverlake Resources became a significant shareholder. Close to Infrastructure In terms of logistics, the project is well within many operating mills (Figure 3).  Hence, one can pretty much say that they would look at toll treatment when they get to a mining scenario.  There are a lot of choices, and if they find more ore, I am sure the other mills will all be chasing them for business.  However, drilling may later show the economics to build their mill closer to the action. According to the presentation given at the RIU conference in Sydney, the district has over 20M ounces of historical gold production.  The primary gold system at Cue is over 28km in length/strike.  The upsell of the Lake Austin Gold Project is the possibility that it could be a Great Fingall look-alike (Figure 4).  I think they are probably not too far from that theory and creating a legacy of their own.  One cannot have this amount of good results and not go down the road of production or at least produce an excellent resource scenario. Break of Day and Lena Gold Projects These are the Moyagee projects from Silverlake Resources, and it is good to see that the thinking from back then has been followed up.  In my time there, we were going to drill that area, but circumstances prevented that from happening.  The resource was already there, and I guess the drilling that Musgrave completed proved that the system was in place and there were more legs to the story.  The new drilling proved that the mineralisation did indeed go more in-depth, but I don’t think this is going to make the custard.  There is not enough width, and the grades are not spectacular (Figure 5). The numbers show some promise but I think there is just not enough work done and with the discovery of the Lake Austin Gold Project, I can’t see management diverting money to this project.  As I mentioned, what this do show is that the system is mineralised and I think the potential of a separate “district” is very high.  I do believe that the potential shown in Figure 4 is not a pipe dream.  I remember when I was at Silverlake, I liked the Lena Shear system.   I felt that it is consistent and the system had the potential to be part of a bigger, more endowed metallic system.  I did think that the management at that time was more interested in Daisy Milano and rightly so as the mishap at the Lakewood mill nearly took them underwater six months form raising 30M from the IPO. I am glad that the recent drilling from Musgrave have shown that I was correct and the discovery of Lake Austin Gold Project in potentially the same system is even more exciting.  This system may be sparked by the Break of Day/ Lena Shear System. Lake Austin Gold Project The Lake Austin Gold Project has all the hallmarks of a great future mining project.  The recent drilling results have been pretty spectacular.  The presentation slide (Figure 6) showing all the recent intercepts is fantastic and has some good length to the intercepts.  They are very encouraging, and one would have good reasons to think that this could be early signs for duplicating the Great Fingall deposit.  This potential that management is hoping for may not be all myth after all.  Asking me would be biased as I am always an optimist and an exploration geologist. We still think there is a pot of gold at the end of every rainbow… eventually 🙂 Looking at the other announced results in Figure 7, it does give one a clearer understanding of the potential.  The mineralisation of 242m @ 1g/t is fantastic, as there is a high grade of 45m @3.3g/t.  As I have mentioned in previous articles, intercepts of 242m, 84m and 94m are lengths of drill intercepts that make mines.  The grades may not be high enough to excite, but you have to understand the mix of high grade and lower grade components of the deposit. The challenge for the company will now be to drill this out and hope that they come up with a decent resource and reflecting a suitable grade.  There does look like a consistent link to the trend heading in a northeastern orientation. I can’t help but think that the Lake Austin Gold Project is the confirmation from Break of Day and Lena. Subsequently, I feel that the Mainland project could be the confirmation from Lake Austin.  All they need to do now is drill and drill and drill. When you look at the diagrams within Figure 6 and Figure 7,  one can see the potential of a mineralised belt happening,  This structural splay coming off that central north-south shear zone could be what the Musgrave needs to make their “Great Fingall” theory come alive. The Gravity data show observable targets and good correlation to the orientation of mineralisation and a structural corridor. Conclusion Musgrave Minerals has got themselves a project that continues to uncover more ounces.  This project reminds me of the discovery that started from small intercept to one of the most well-known salt lakes.  Lake Lefroy in the Kambalda area has one of the most metalliferous endowed salt lake systems. Figure 8 shows the discovery around Lake Lefroy over 40 years of activity.  The development of Invincible was the latest, but that also took several years due mainly to not recognising the importance of early exploration results. The discovery of Invincible in 2012/2014 is active in my mind as that was a 1.3M ounce discovery in an area that you would have thought had been thoroughly drilled out.  To me, Musgrave could be onto something that could make them a producer or a takeover target .  Thick intercepts and decent grades are the right combinations of a good story that would attract corporate activities with the gold price continued rise up the charts. What could make this come a cropper would be running out of money.   Musgrave has strong shareholders, Westgold is a major shareholder and they would be the first to benefit if Musgrave defines a workable resource as the nearest toll treating avenue is their Tuckabianna Mill. Apart from a lack of funding, I don’t think there is anything else that could make this a lemon.  Even a chinaman geologist like me could make myself a hero from here…maybe… 🙂 Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. www.samso.com.au If you find this article informative and useful, please help me share the information.  I try and write about topics that are interesting and have the potential to be of investment value.  It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me on noel.ong@samso.com.au . About Samso

Coffee with Samso Episode 95 with Florence Drummond, CEO & Co-Founder of IWIMRA (Indigenous Women in Mining and Resources Australia) . IWIMRA is an organisation that aims to create a stronger connection amongst Indigenous women in Australia’s Mining and Resource sector. With the whole ESG factor developing, I have been looking to seek the Social aspect of the ESG. My thoughts are that the key component of making ESG work is to create a greater awareness of First Nation requirements. I saw Florence Drummond on LinkedIn with her cause and I wanted to get her onto Coffee With Samso to share with us her work. The mineral resource sector is a high value component of Australia's GDP, so it would make perfect sense to encourage the First Nation population to participate in the continued growth of the industry. Mining projects are in remote areas, and as Florence shares, it makes sense to encourage the indigenous population to join and create wealth in the community by encouraging employment. Florence comes across as an energised ambassador of this cause and I was thankful for her to participate in the Samso ESG series of Conversations. Tune in to find out more about Florence Drummond and IWIMRA. Chapters 00:00 Introduction 01:00 All about Florence Drummond 01:46 How do you start the topic of Indigenous Women in Mining. 03:43 How is the process of Indigenous people moving into employment? 04:55 How has the importance of education progressed in the First Nation mindset? 06:56 Young Florence travelling outside Australia 09:23 How has the awareness from her "World" helped the Indigenous cause? 11:23 How do you break the "Stay At Home Mum" image of women? 15:27 What is the goal of IWIMRA going forward? 16:29 Can Role Models encourage ideals? 18:29 Do you feel the need to break cultural traditions? 20:02 The importance of understanding Culture 21:25 Florence's thoughts on Indigenous people's place in the ESG Conversation 22:45 Conclusion PODCAST About Florence Drummond CEO & Co-Founder IWIMRA Florence Drummond leads IWIMRA , a community for Aboriginal and Torres Strait Islander women in the mining and resources sector. Founded in 2017 with the focus of raising the profile of Indigenous women, the national network is now stepping into the international arena and engaging with all Indigenous peoples in the sector. It is an organic shift into the NFP space to better contribute towards best practice. Florence's introduction to the mining industry was as a Machine Operator. Within the 8 years of her time working directly for tier one companies, alongside her national team, she has successfully built IWIMRA as a peak body for Indigenous relations within the sector. Her international participation and experience in attending forums such as UN Commission of the Status of Women in New York and also representing Australia at the regional forum of UN ESCAP in Bangkok, has continued to shape the expectations of the network to contribute at a policy level to ensure best practice for Indigenous stakeholder engagement in the industry. In 2020 Florence was recognised as WIMUK Global Top 100 Most Influential Women in Mining, joining a cohort of influential women who continue to reflect and uphold what good leadership looks like. About IWIMRA Indigenous Women In Mining and Resources Australia Indigenous Women in Mining and Resources Australia (IWIMRA) was founded in 2017 to create a stronger connection amongst Indigenous women in Australia’s Mining and Resource sector. IWIMRA partners with industries to continually raise the profile of Aboriginal and Torres Strait Islander women and to contribute to best practice solutions. Through their lived experiences, and their narrative of Indigenous intersectionality, it is their priority to ensure the visibility, voice and quality participation of Indigenous women. IWIMRA aspires to lead with clarity and purpose. Working with industries to build solutions-driven, cross-culture influential relationships, together they continue to contribute towards a sustainable future for everyone 1. Why does IWIMRA exist? To raise the profile of Indigenous women in the mining and resources industry 2. What does IWIMRA do? As a membership based organisation, IWIMRA aims to build an online community to engage in conversation with women across the industry. Our digital platform is designed to overcome geographical barriers with the core aim to identify gaps for career progression and opportunities to improve for Indigenous women. Furthermore, promote culturally safe professional development tools, access to community of mentors, quality opportunities and brokering greater relations with key industry stakeholders. IWIMRA is focused on building capacity that is fit for purpose, to align with the innovative nature of the mining and resources industry. 3. Who does IWIMRA benefit? IWIMRA is established to benefit Indigenous Women in the mining and resources sector. Indigenous women are identified as the cornerstone of many families and communities. Indigenous women's participation and influence in the industry can be utilised to strengthen relations within the Indigenous workforce, to promote retention initiatives. From a global perspective, Indigenous women are identified as most vulnerable, in their opportunities to innovate with the fast paced society. The mining and resources industry is informed by global instruments such as the Sustainable Development Goals 2030. 4. How will IWIMRA achieve its goals? IWIMRA will achieve its goals by strengthening its digital platform, which encompasses key focus areas that include: access to professional development pathways services, community of mentors and relations & investment by employee companies. This partnered approach to raising the profile of Indigenous women in mining and resources, will ensure transparency, accountability and ownership. 5. What does success look like? Success for IWIMRA will be a self sustaining network of confident, capable and informed women. Leading the conversation internally for specific Indigenous initiatives and contributing to industry best practice. The success of our digital platform to facilitate robust conversations within the mining and resources industry which will continue to promote and inform best practice, with a lens that is culturally safe, future focused and fit for purpose. To learn more of IWIMRA's membership opportunities contact here . Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. Your Bonus Samso has just released an eBook: How to Add Value to your Share Portfolio A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook. If you find this article informative and useful, please help me share the information.  I try and write about topics that are interesting and have the potential to be of investment value.  It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me on noel.ong@samso.com.au . About Samso

Coffee with Samso Episode 160 is with John Prineas, Executive Chair of St George Mining Limited (ASX: SGQ). In this episode with St George Mining Limited , we have John Prineas telling us all about the lithium discovery within their Mt Alexander project. I recently had a few conversations about lithium and I feel that the investing market has not realised that the lithium exploration timeline has just started. The lithium euphoria has only been happening for the last two years. The discovery has been all the easy pickings and more commentary is now in the public domain about the discovery of pegmatites that are basically under cover. Like all the previous commodity boom, the strong demand vs. supply equation will carry the rest of the lithium sector further. My view of the sector is that the demand for lithium will definitely outstrip what the work can provide, literally. The mining of lithium will never catch up with the need for the metal. There is no doubt about this statement. St George Mining is now on the verge of joining the ranks of all the potential players out there with one pointed advantage. It is just 10km and along strike (within the potential mineralisation trend) of the Mt Ida Lithium project which is owned by Red Dirt Metals Limited (ASX: RDT) . In this episode, viewers should take note of the potential of the current drilling program. There have been rock chip results showing mineralisation but the drilling results will be the conclusive point. The width mapped on the surface and the rock chip assays should give some indication of the potential. It does not take a genius to realise that there will be pegmatite drilled and there will be number. Where the results will take the project is the unknown. I would start asking the company some serious questions and keep an eye on announcements from the company. Watch this conversation and make a decision to do some serious DYOR. Chapters 00:00 Start 00:20 Introduction 01:27 About St George Mining. 01:58 Discovery having similar geology with Mt Ida. 03:32 How encouraging is the width of pegmatites? 05:13 The drilling program. 05:47 Lithium Exploration is still Young. 07:17 How much of the tenement has been looked at? 08:12 Is it advantageous to be close to Mt Ida? 09:26 Discovering the use of lithium. 11:10 How is your experience with the lithium trend? 13:07 St George Mining’s nickel projects. 15:20 Sharing the funding between two projects. 16:45 What are your thoughts on the market? 18:00 Do you see WA being the dominant player in the lithium space? 21:05 News flow. 22:01 Why St George Mining? 22:41 Conclusion PODCAST Listen to previous Coffee with Samso conversations on Lithium. About John Prineas B.Ec LL.B F Fin Executive Chair John is a founding shareholder and director of the Company. He has over 25 years experience in the banking and legal sectors, including a period as the head of a financial institution in Australia. He commenced his career as a lawyer at Allen, Allen & Hemsley, gaining extensive experience in commercial transactions and corporate advice in both Australia and Asia-Pacific. In 1994, he joined Dresdner Bank AG in Sydney and over the next 10 years occupied the roles of General Counsel, Chief Operating Officer and Country Head with a focus on project and acquisition finance for resources and infrastructure projects as well as associated capital markets and treasury products, including commodities trading. John has a diverse range of high level experience in finance, mining and corporate governance. About St George Mining Limited (ASX:SGQ) St George Mining Limited is a mining exploration company focused on creating shareholder value through the discovery of world class deposits. At its flagship Mt Alexander Project in Western Australia, St George boasts Australia’s latest nickel-copper sulphide discovery. High-grade nickel-copper-sulphide-PGE mineralisation occurs from just 30m below surface and over a 4.5km strike of the Cathedrals Belt. The discovery continues to grow with ongoing definition drilling delivering further significant intersections of high grade mineralisation including: MAD71 (Stricklands Prospect): 17.45m @ 3.01%Ni, 1.31%Cu, 0.13%Co and 1.68g/t total PGEs from 37.45m including the massive sulphide zones of: 5.3m @ 4.39%Ni, 1.45%Cu, 0.21%Co and 2.09g/t total PGEs from 39.3m; 2.02m @ 5.05%Ni, 2.01%Cu, 0.21%Co and 3.31g/t total PGEs from 50.6m; and 0.5m @ 3.68%Ni, 3.9%Cu, 0.17%Co and 2.68g/t total PGEs from 54.4m. MAD56 (Cathedrals Prospect): 7.5m @ 3.90%Ni, 1.74%Cu, 0.12%Co and 3.32g/t total PGEs from 57.8m including 3.15m @ 6.36%Ni, 2.92%Cu, 0.20%Co and 5.03g/t total PGEs from 61.81m MAD60 (Investigators Prospect): 5.3m @ 4.95%Ni, 2.75%Cu, 0.16%Co and 4.55g/t total PGEs from 157.9m including 3m @ 6.40%Ni, 3.55%Cu, 0.21%Co and 5.25g/t total PGEs from 159.38m This major discovery comes at a time when the electric vehicle (EV) revolution and trend to alternative energy storage systems is gaining momentum. Demand for nickel sulphide – a critical battery metal – is forecast to surge with an upswing in the nickel price already underway. Preliminary metallurgical tests of the massive sulphides at Mt Alexander produced concentrate with 18% nickel and 32% copper with high values for cobalt and PGEs. The excellent exploration results at Mt Alexander build confidence in the resource potential at the Project and support Mt Alexander emerging as a major new nickel sulphide camp in Western Australia. Our other projects – the Paterson and Broadview Projects - are located in exploration hotspots in Western Australia and provide additional value for the Company. Drill core from MAD177 (photo below) which returned assays of: 10.5m @ 4.82% Ni, 1.67% Cu, 0.15% Co and 2.87 g/t total PGEs from 182.5m, including 4m @ 7.53% Ni, 2.47% Cu, 0.23% Co and 3.92 g/t total PGEs from 186m. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. Share to Grow: Your Bonus Samso has just released an eBook: How to Add Value to your Share Portfolio A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook . If you find this article informative and useful, please help me share the information.  I try and write about topics that are interesting and have the potential to be of investment value.  It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me on noel.ong@samso.com.au . About Samso Click on image above for Coffee With Samso investment column featured on Brilliant-Online. Our new Brilliant partnership allows us to distribute stories from ASX companies and private businesses to a wider community. 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Rooster Talk Episode 65 is with Brad Valiukas, Managing Director of Aurumin Limited (ASX: AUN) This episode of Rooster Talk with Aurumin Limited (ASX:AUN) is about the latest announcement on the upgrading of the Sandstone resource. This has been a developing story since our previous Coffees. Listen to our previous conversations with Aurumin Limited here: Today, we bring a brief discussion of the resource upgrade and what it means in the overall scheme of the project. Chapters: 00:00 Start 00:20 Introduction 01:21 Update from Brad. 01:45 Two Mile Hill Resource Upgrade. 03:37 What is required from here? 06:33 What is the Sandstone Story Now? 07:24 The Two-Prong Approach to Sandstone. 08:23 Are there any "Spanners" in the works? 09:04 News flow. 10:01 Brad's Last Words. 10:27 Conclusion PODCAST This is a good time to download the first Ebook (FREE) from Samso as it is all about VMS (Volcanogenic Massive Sulfides). About Brad Valiukas - Managing Director BEng (Mining), GradCert (Econ), Member AusIMM Mining Engineer and experienced executive with over 20 years operational, management and executive experience covering underground and open pit operations across multiple commodities around Australia and internationally. Brad's most recent position is that of Manager – Technical Services for Northern Star Resources. He was previously COO at Focus Minerals, COO at ABM Resources and held senior roles at Mincor Resources. About Aurumin Limited (ASX: AUN) Aurumin Limited (ACN 639 427 099) (Aurumin or Company) is an Australian company incorporated on 28 February 2020 in Western Australia as a mineral exploration company to allow the reorganisation of projects held by Aurumin Mt Dimer Pty Ltd (formerly Acertim Resources Pty Ltd) (Aurumin Mt Dimer). In particular, the Company was established to enable the restructure of the Mt Dimer, Mt Palmer and Johnson Range projects into separate project entities and further consolidate additional tenements, and to progress these gold exploration projects in the Southern Cross and Kalgoorlie regions. Since incorporation, the Company has acquired 100% legal and beneficial ownership of Aurumin Mt Dimer and Aurumin Mt Palmer Pty Ltd (formerly Mt Palmer Gold Pty Ltd), and has entered into a further 3 tenement acquisition agreements and applied for further tenements such that it now has an interest in 29 tenements across 4 projects. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. Share to Grow: Your Bonus Samso has released an eBook: How to Add Value to your Share Portfolio A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook . If you find this article informative and useful, please help me share the information.  I try and write about topics that are interesting and have the potential to be of investment value.  It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me on noel.ong@samso.com.au . About Samso Samso ASX stories are also through the Brilliant-Online channels. Subscribe to Brilliant Investments.

Rooster Talk Episode 36 with Andrew Radonjic, Managing Director - Venture Minerals Limited (ASX:VMS) Good signs that Venture Minerals is ticking boxes to create shareholder value. Venture Minerals is one of my favourite stories where the multi facet projects were the main attraction. This was since 26th October 2020 when we published Coffee with Samso - A Targeted Diversified Mineral Explorer - Venture Minerals Limited (ASX: VMS) . I must admit that the Riley's hematite project in Tasmania was never on my radar screen. I wish I had paid more attention to it, as the iron ore price is at an all-time high and what I am seeing is, the economic fundamentals of this sector are looking good for the coming years. There are news that there will be a pull back next year, but I am sticking my neck out here in saying that I do not really see that happening. The world economy has had a twelve-month hibernation and as we are gradually coming out of this pandemic, I see economic growth moving rather well. Today, Andrew Radonjic shares with us: The latest update on Riley Sustained Iron ore Price When the first shipment will be What the revenue from the mining operation will mean for Venture Minerals Share to Grow: Your Bonus This is a good time to download the first Ebook (FREE) from Samso as it is all about VMS (Volcanogenic Massive Sulfides). Samso released an eBook: How to Add Value to your Share Portfolio A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook . PODCAST About Andrew Radonjic Mr. Radonjic is a geologist and mineral economist with over 25 years of experience in mining and exploration, with a specific focus on gold and nickel in the Eastern Goldfields of Western Australia. Mr. Radonjic began his career at the Agnew Nickel Mine before spending over 15 years in the Paddington, Mount Pleasant and Lady Bountiful Extended operations north of Kalgoorlie. He has fulfilled a variety of senior roles which gave rise to three gold discoveries, totalling in excess of 3 million ounces in resources and the development of over 1 million ounces. About Venture Minerals Limited Venture Minerals Limited is currently exploring in Western Australia for Copper-Lead-Zinc at the Thor Prospect, Nickel-Cobalt at the Pingaring Project (adjacent and along strike to the Quicksilver Nickel-Cobalt discovery), Nickel-Copper (new target) at the Odin Prospect and Nickel-Copper-Cobalt at the Caesar Project . Recently the maiden drilling program at Thor intersected massive sulfides confirming the Copper-Lead-Zinc target is a 20 a kilometre VMS style system. Thor is now a top priority target for Venture moving forward. The Company's initial focus was on realising the full economic potential of the Mount Lindsay Tin-Tungsten Deposit in North-West Tasmania. The Company has already defined one of the world's largest undeveloped tin deposits and has completed a Feasibility Study on Mount Lindsay. The emergence of tin as the metal most impacted by new technology through its use in Electric Vehicles has refocused Venture’s approach to developing this asset and an underground scoping study is currently underway. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. About Rooster Talk Rooster Talks are conversations with industry experts about market insights, trends, and learnings that benefit businesses across all sectors in the Australian Stock Exchange. If you find this Rooster Talk informative and useful, please help me share the information. I try and write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me at noel.ong@samso.com.au . About Samso

Galileo Mining is a resources company listed on the Australian Securities Exchange (ASX) under the code GAL and is exploring for base metals in south-east Western Australia. The company has a 100% ownership of its Norseman Project and has Joint Ventures with the Creasy Group over highly prospective tenements in the Fraser Range. The Norseman Project is located adjacent to the regional town of Norseman in an infrastructure-rich area of Western Australia. A bitumen highway runs parallel to the project area and is less than 10km from the Company’s current JORC cobalt-nickel resources. The Norseman Project includes numerous areas with potential for further cobalt discoveries as well as additional nickel and copper prospects. The Fraser Range Project covers two zones of the extensive Fraser Range geological belt. The Fraser Range is known for the world-class Nova nickel-copper-cobalt mine discovered by Sirius Resources in 2012. Galileo’s northern Fraser Range tenement is 80km from the operating Nova mine while the southern tenements are just 30km from the mine. Galileo is targeting Nova style nickel-copper-cobalt mineralisation in the Fraser Range and has a deep level of experience in the region. The company was originally privately owned by renowned prospector Mr Mark Creasy, and Galileo Managing Director Mr Brad Underwood spent eight years as General Manager of the Creasy Group’s exploration at the Fraser Range and at Norseman. Galileo Mining listed on the ASX in May 2018, raising $15 million in IPO funding. Mr Creasy continues to be the largest shareholder, controlling approximately 31 percent of the company. ASX-listed miner Independence Group (ASX: IGO) and Mineral Resources’ founder Chris Ellison are included within the Company’s top five largest shareholders. Galileo Key Milestones: 2003 – Registered as a private company wholly-owned by Mark Creasy 2004 – Acquired the Norseman project 2006 – Initial drilling conducted at Norseman 2017 – Maiden JORC Resource completed at Norseman 2018 – Acquired interest in the Fraser Range project 2018 – Launched on the ASX as a public company Since our first Coffee with Samso in May, Galileo has been very active in preparing for this moment of drilling targets. We speak of the "Truth Machine" being what all projects need or fear. In this case, I do believe that this will bring exciting times for shareholders. Brad Underwood has been preparing these projects with desktop surveys, geochemistry and geophysics. The obvious next step is to drill the targets identified. Brad tells us that there will be coming news for the next 6 months. Brad tells us about how the geophysics is clean, meaning that the country rocks are not compromising the results. Since preparing for the first Coffee with Samso with Brad , I have come to appreciate how unique this area is compared to your normal nickel project. When Brad talked about the unique metal composition, more copper, I think there are more discoveries left in the Fraser Range. I hope you find it an interesting object lesson in nickel exploration and its investment potential. PODCAST About Brad Underwood Brad Underwood is the Chairman and Managing Director of Galileo Mining. Mr Underwood is a geologist with over 18 years’ experience in exploration, prospecting and mining. He has been involved in copper, gold, nickel and cobalt discoveries and the development of numerous prospects over a variety of commodities. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. www.samso.com.au If you find this article informative and useful, please help me share the information.  I try and write about topics that are interesting and have the potential to be of investment value.  It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me on noel.ong@samso.com.au . About Samso

The mineral resources investing community in the Australian Stock Exchange (ASX) probably first heard of Halloysite when Andromeda Metals Limited (ASX: ADN) made news of their deposit in South Australia. I for one, certainly only heard of the term when I looked at Andromeda. Did you know that up until 2005, the main use of halloysite was as an alternative raw material to kaolinite for ceramics? Today, there is an exponential increase in research aimed at halloysite Nanotubes (HNTs). The use of halloysite is almost synonymous to crying out: "Oil that is, Black gold, Texas Tea" - [ For those that remember ] As we move into 2022, there is only one other company, Suvo Strategic Minerals Limited (ASX: SUV) , promoting the same story. It is a unique mineral and there is still a lot of misinformation and misunderstanding about the commodity and its potential uses. To add to the list of "issues" there is also a lot of mistrust of the potential use of the mineral. Halloysite Halloysite was named by Berthier in recognition of Belgium geologist J.J. d’Omalius d’Halloy who, in the early 19th century, collected samples of waxy, white clay at Angleur, Liége, which Berthier (1826) later analysed and described [3]. Halloysite is a 1:1 dioctahedral clay mineral that has been studied widely for applications in nanotechnology and as a mineral exploration guide for recognising regolith-hosted heavy rare earth element ( HREE ) deposits. [1] Figure 1: (a) Straight, regular halloysite microtubles from Camel Lake. (b) Halloysite crystal morphology and atomic structure. (Photo 414524) [2] According to [2], Halloysite is a relatively common mineral that often crystallises together with kaolinite; the two polymorphs of kaolin are not easily separated. Deposits suitable for commercial development are, however, comparatively rare and occur either as relatively pure masses of halloysite (e.g. Dragon Mine, Utah; Camel Lake) or as large, lower-grade sources from which halloysite can be readily separated (e.g. Matauri Bay deposits, New Zealand). Figure 2: Geological setting of halloysite deposits formed by acid groundwater at the Camel Lake site, near Maralinga, South Australia.[2] As a geologist, I will say upfront, I know very little about halloysite and trying to explain the geological process is impossible for me. Doing research and trying to understand and then trying to summarise it is not an easy task. So there is going to be a lot of paraphrasing happening here. Who is mining Halloysite? As far as I know, there are very few people mining halloysite. According to my research, or what I have found, there are two "world-class" locations - Dragon Mine in Tinitc, Utah (USA) and the Matauri Bay deposit in Northland, New Zealand. 1) Matauri Bay halloysite deposit, Northland, New Zealand. According to [4], halloysite clay deposits have been mined and processed in the Keriker-Matauri bay area of Northland since the late 1940s. Since the mid 1970s, this has been the dominant continuous supplier of halloysite worldwide, averaging around 20,000 tonnes per annum (tpa). Figure 3: The very pure halloysite clay dug at Northland’s Matauri Bay is exceptionally white and bright. It is exported for use in high-quality materials such as porcelain, bone china and technical ceramics. [7] The operation was acquired in 2000 by Imerys from former owners New Zealand China Clays Ltd. Imerys Tableware NZ Ltd currently mines raw clay from open pit mines developed in the Matauri Bay and nearby Mahimahi rhyolite domes (Fig. 4). The raw clay contains around 50% halloysite, 50% silica minerals (quartz, cristobalite, tridymite, amorphous silica), and minor feldspar. Figure 4: Geological map of the Kerikeri – Matauri Bay region of North Island New Zealand (derived from Web Map (GNS Science, 2013) [5]) showing rhyolite domes and halloysite deposits, with sketch west-east section through the Matauri Bay halloysite deposit (after Brathwaite et al. (2012)) 2) Dragon Mine [8] Dragon mine is located in the Tintic District of north central Utah, some 60 miles southwest of Salt Lake City. The geology and details of alteration and mineralization at the Dragon mine are well described by several authors and the references can be found in [8]. The host rocks are Upper Cambrian Ajax Dolomite and Opex Formation with underlying Middle Cole Canyon Dolomite and Tintic Quartzite (Fig. 5). There are two main clay bodies at the Dragon mine – West and East as shown in Fig. 5. Dragon was originally an iron ore mine and subsequent mining of halloysite was mainly from underground during 1947– 1976 with 1.35 million tons mined by Filtrol. Figure 5: Geological section, approximately west–east, through the Dragon mine, Tintic mining district, Utah, showing the distribution of halloysite ore zones – redrawn from Kildale & Thomas (1957) and Morris (1985). Historical Article highlighting Resources at Dragon mine. Halloysite was extracted using a square-set method (5.2 × 6.0 × 7.8 ft) and hand-drills, and it was transported to the surface via a shaft and then loaded onto a lorry, which delivered raw clay to the Filtrol plant in Salt Lake City for processing into a fluid cracking catalyst (FCC) for the petroleum industry. Other players Wilson and Keeling 2016 [8] has Table 1 below which shows some of the halloysite sites around the world. Their work is pretty good in giving an idea of what is around. However, there have been several new players since Suvo Minerals identified halloysite on their Pittong Operations as well. Table 1: Some halloysite and mixed halloysite-clay deposits.[8] There is a report in 2021 of a pegmatite in Brazil which has tubular halloysite and HREE (Heavy Rare Earth Elements), so discoveries are being made. As halloysite is chemically and physically different from normal kaolin-kaolinite, the identification of halloysite will happen more commonly. However, as you see how the categorisation/grading of these "clays" become clearer, the economic implication will cause many halloysite deposits uneconomical and hence, not important. Grading Kaolin - Halloysite The way industrial clays are considered to have technical and economic qualities is solved by the process of categorisation. In the market, we hear of the term "white brightness" to classify the quality of halloysites. In an article by Harvey and Keeling 2001 [7], there are four categories. Category 1: clays of high quality requiring major capital investment to supply large tonnage, international markets. Produced in Georgia (USA), Conrnwall (UK) and the Amazon Basin in Brazil. Category 2: unique specialty clays for which advanced technologies are required to produce small tonnages for niche markets. Clay deposits in this category are typically of high purity and are found in somewhat uncommon geological settings. Minerals such as Hectorite and Bentonite are common types within this category. Category 3: moderate quality clays requiring relatively low technologies, to supply predominantly local markets. Category 4: clays of low quality requiring little or no processing. Harvey and Keeling 2001 concluded by noting that Categories 1 and 2 clay projects are of a higher quality which require extended development times (from green-field to investment decisions) and significant pre-development capital investment. On the other hand, the development of Categories 3 and 4 clays requires shorter times and lower levels of capital investment. According to the article, Category 2 is where halloysite sits. Interestingly, the article mentions the Maauri and the Poochera deposits as type areas. Figure 6: Location of Australian and New Zealand clay deposits. [7] There are no known hectorite in either Australia or New Zealand, although the geological setting of the North Island of New Zealand is in many ways similar to that of Nevada. Both Nevada and the central North Island of New Zealand have extensive areas of hydrothermally altered acid to basic volcanic rocks. Interestingly, my previous understanding of Australian clay deposits (Figure 6) was that they were all uneconomic. According to this paper [7], I was not far off the mark. The majority of the Australian clay deposits sits in Category 3 and 4, which are the lower value. These deposits are largely deemed uneconomical due to their logistics and location to market. The Significance of Halloysite While doing research on this Insight, what is very clear to me is that there is a lot of momentum in this sector. Recently I did a Coffee with Samso with James Marsh, the managing Director of Andromeda Metals - Andromeda Metals Limited (ASX:ADN) - The Real Story. - where we talked about the misunderstanding of the strategy of the company. In that Coffee with Samso, our discussion centred on the downstream part of the story which is the unique part of the whole halloysite story. It is, in fact, the emerging part of the Kaolin-Kaolinite-Halloysite sector. Figure 7: The number of scientific papers written with each year up to 2015 according to the appearance of (a) halloysite (diamonds) or (b) halloysite nanotubes (HNTs) in the Article Title, Abstract or Keywords (both sourced from Scopus© database) and (c) numbers of patents filed per year with halloysite in Article Title or Abstract (source Espacenet) [10] The chart in Figure 7 is a great way of showing the influx of research in the halloysite sector. I remember James Marsh telling me about the thousands of papers that have been written about this subject and the myriad of potential downstream products. When I first had a conversation with Andromeda way back in 2019, I had no idea about the downstream process. I actually thought that it was more of a dream than a potential reality. In the last Coffee with Samso with James, it was great that we put some layman's reality into the whole process. I feel this is an important for the halloysite message because there is a lot of confusion in the market. The confusion is born out of a lack of understanding of the downstream process and the myriad of potential products. What Does All This Mean? Players such as Andromeda and Suvo Strategic Minerals are in a space that is evolving. The emerging new "Industrial Revolution" that I spoke of in the latest Samso Insight - Expectations for the Mineral Resource Industry in 2022 - Green Energy and No Emission. - is going to drive more need for the humble Kaolin. At the moment, in my opinion, the jury is still out in terms of the products from halloysite. I agree that there are many products which are at a pilot stage, like Andromeda, but the success or lack of is unknown. Science shows that through a step process of test and pilot plants, this normally ends well but there is no ´sure thing´ concept here. One of the most updated places to get information on the downstream products would have to be the Andromeda Metals website. They have been the most active in promoting their vertical integration business model. Table 2: Some present and future uses and applications for halloysite. [8]. The way Andromeda has separated their products is interesting. I think if we take the categorization observed in the paper by [7], I would fit them as follows: Kaolin (Category 3 and 4), Halloysite Kaolin (Category 2 and 3) High Purity Alumina (Category 1 and 2) Suvo Strategic Minerals is continuing to develop their Pittong operations and recently announced some upgrade in their Kaolin grades - Further High Grade Halloysite at Trawalla, Grades Up to 32.4% - which will be good for the company. However, I actually think that if you can get simple kaolin to the market, that is a great achievement by itself. The Kaolin space is so active now that I think having an operation like Pittong is some of the advantage that Suvo has over their competitors. Like all mineral projects, an operation that is up and running is a lot better than just talking about it. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer . About Samso Samso is a renowned resource among the investment community for keen market analysis and insights into the companies and business trends that matter. Reference Victor Matheus Joaquim Salgado-Campos; Luiz Carlos Bertolino; Francisco José da Silva; Julio Cezar Mendes; Reiner Neumann, 2021, Mineralogy and chemistry of a new halloysite deposit from the Rio de Janeiro pegmatite province, south-eastern Brazil, Clay Minerals (2021) 56 (1): 1–15 John L Keeling and Pooria Pasbakhsh, Halloysite Mineral Nanotubes – geology, properties and applied research. MESA Journal 77 Issue 2 – 2015 Keeling JL 2015. The mineralogy, geology and occurrences of Halloysite. In P Pasbakhsh and GJ Churchman eds, Natural Mineral Nanotubes: Properties and Applications. Apple Academic Press Inc., New Jersey, pp. 96–112. Brathwaite, R.L.; Christie, A.B.; Faure, K.; Townsend, M.G.; Terlesk, S. Origin of the Matauri Bay halloysite deposit, Northland, New Zealand. Mineralium Deposita 2012, 47, 897-910. GNS Science. New Zealand Geology Web Map. http://data.gns.cri.nz/geology/ (accessed June 12, 2013) www.teara.govt.nz Harvey, Colin C and Keeling, John, 2002 Categorization of industrial clays of Australia and New Zealand. Applied Clay Science 20, pp243-253. Wilson, Ian and Keeling, John. 2016. Global occurrence, geology and characteristics of tubular halloysite deposits. Clay Minerals, Vol 51, pp 309-324. Kildale M.B. & Thomas R.C. (1957) Geology of the halloysite deposit at the Dragon Mine. Pp. 94–96 in: Geology of the East Tintic Mountains and Ore Deposits of the Tintic Mining Districts (D.R. Cook, editor). Guidebook to the Geology of Utah, 12, Utah Geological Society, USA. Churchman, G. Jock, Pasbakhsh Pooria, and Hillier, Stephen. 2016. The Rise and Rise of Halloysite. Clay Minerals, 51, pp303-308.

Coffee with Samso Episode 154 is with Brad Valiukas, Managing Director of Aurumin Limited (ASX: AUN) Aurumin Limited (ASX:AUN) listed on the Australian Stock Exchange (ASX) and has been developing the Sandstone project since the last time we had a Coffee in January 2022 . When we last spoke to Brad Valiukas, they had just acquired the project. The strategy was to do more drilling to build a better database of the project. During this time, Aurumin has made a lot of progress with four drilling programs with extensive intersections of gold mineralisation. Drilling results: 11/07/2022 - 344.00m @ 1.29 g/t Au 11/08/2022 - 224.00m @ 1.50 g/t Au 05/09/2022 - 352.80m @ 1.50 g/t Au 12/09/2022 - 242.70m @ 1.20 g/t Au Looking at these drill holes, I see some hidden points about the grades which will be carried in the upcoming resource model. The entire length may appear to only have a slightly higher grade than the resource, but there are much better numbers within the intersection. To have an average of 1.5 g/t Au, you will definitely see much greater numbers within the length of the hole. One also needs to understand that the potential higher grades within the holes will also allow the flexibility of changing the style of mining. I see the potential of Sandstone as a matter of when, and not if, it will be positive. The geology will create opportunities and the recent drilling is a clear indication that my assumptions are not too far off the mark. Another important point to consider is the potential lack of motivation of neighbouring deposits to go to mining. If this were the case, Aurumin could consolidate their inventory and that would work perfectly for the model. Chapters: 00:00 Start 00:20 Introduction 01:08 Updates from Brad. 01:40 Discussion about the data points. 03:44 Discussion about the intercepts. 06:10 Potential and mineralization in Two Mile Hill. 07:44 What was the motivation in chasing the tenement? 09:46 The Sandstone Province. 11:59 What do we need to know about the new package? 13:02 Johnson Range. 14:09 What is happening in Southern Cross? 14:57 The market going forward. 15:39 News flow. 16:37 Why Aurumin? 17:32 Conclusion PODCAST This is a good time to download the first Ebook (FREE) from Samso as it is all about VMS (Volcanogenic Massive Sulfides). About Brad Valiukas - Managing Director BEng (Mining), GradCert (Econ), Member AusIMM Mining Engineer and experienced executive with over 20 years operational, management and executive experience covering underground and open pit operations across multiple commodities around Australia and internationally. Brad's most recent position is that of Manager – Technical Services for Northern Star Resources. He was previously COO at Focus Minerals, COO at ABM Resources and held senior roles at Mincor Resources. About Aurumin Limited (ASX: AUN) Aurumin Limited (ACN 639 427 099) (Aurumin or Company) is an Australian company incorporated on 28 February 2020 in Western Australia as a mineral exploration company to allow the reorganisation of projects held by Aurumin Mt Dimer Pty Ltd (formerly Acertim Resources Pty Ltd) (Aurumin Mt Dimer). In particular, the Company was established to enable the restructure of the Mt Dimer, Mt Palmer and Johnson Range projects into separate project entities and further consolidate additional tenements, and to progress these gold exploration projects in the Southern Cross and Kalgoorlie regions. Since incorporation, the Company has acquired 100% legal and beneficial ownership of Aurumin Mt Dimer and Aurumin Mt Palmer Pty Ltd (formerly Mt Palmer Gold Pty Ltd), and has entered into a further 3 tenement acquisition agreements and applied for further tenements such that it now has an interest in 29 tenements across 4 projects. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. Share to Grow: Your Bonus Samso has released an eBook: How to Add Value to your Share Portfolio A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook . If you find this article informative and useful, please help me share the information.  I try and write about topics that are interesting and have the potential to be of investment value.  It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me on noel.ong@samso.com.au . About Samso Samso ASX stories are also through the Brilliant-Online channels. Subscribe to Brilliant Investments.

Coffee with Samso Episode 151 is with David Riekie, Executive Director - Adavale Resources Limited (ASX: ADD) Focusing on a discovery in the East African Nickel Belt. David Riekie, the Executive Director of Adavale Resources brings us the latest activities with the company. The company is currently completing a fund raising exercise and it gives current shareholders a great opportunity to participate. There appears to be a lot of exploration activities happening in the coming months. David gives us a breakdown on what is happening with Adavale as they move into another period of exploration activities. As the company moves into the next phase of exploration, David explains why the East African Nickel Belt is important, and why Adavale will be benefiting from the lack of historical exploration. As I decipher the conversation, I feel that Adavale is benefiting from a dominant land holding in this nickel belt. There are not too many stories where a small cap company is holding this position. The nearest analogy for me is when the Yamarna Greenstone Belt was predominantly controlled by Gold Road Resources Limited. They held a similar dominant position like Adavale. That land holding has now allowed the company to be the owner of over 9M ounces of gold. Previous Videos with Adavale Resources Limited Chapters: 00:00 Start 00:20 Introduction 01:05 Updates about fundraising. 02:45 Follow up on plans from previous discussion. 04:45 Explanation on conceptual model of EM signatures in Kabanga. 08:39 Interpreting the images from the presentation. 11:56 Is the East African Nickel Belt a belt worth looking at? 14:42 Comments on BHP investing in the Kabanga project. 17:34 Thoughts on comparison to Gold Road. 19:32 Is this the start of a consolidation period of producers in the base metals space? 23:03 Comments on being in a belt that is not well explored. 26:11 Thoughts on the Nickel market. 30:18 News flow for Adavale. 32:03 Prediction on discovery holes. 34:02 Why Adavale? 36:13 Conclusions PODCAST Reference : Evans, D.M. & Hunt, Jp & Simmonds, John. (2016). An Overview of Nickel Mineralisation in Africa with Emphasis on the Mesoproterozoic East African Nickel Belt (EANB). Episodes. 39. 319-333. 10.18814/epiiugs/2016/v39i2/95780. Download this eBook This is a good time to download the first Ebook (FREE) from Samso as it is all about VMS (Volcanogenic Massive Sulfides). About David Riekie Executive Director David is an experienced director in the capacity of both Executive and Non-Executive roles of ASX listed companies. His career has spanned multiple continents. Within Africa Namibia, Tanzania, Eritrea, South Africa, DRC and Mozambique are notable. He has overseen exploration and resource development, scoping and feasibility studies, production optimisation, stakeholder engagement, acquisition programs and expansion initiatives. David most recently has served on the Boards of remote power generation and energy solutions specialist Zenith Energy Limited (ASX: ZEN) and independent uranium producer Paladin Energy Limited (ASX: PDN). David also served as interim CEO to Poseidon Nickel Limited (ASX: POS). David holds a Bachelor of Economics and a Graduate Diploma of Accounting from Flinders University and has been a member of the Australian Institute of Chartered Accountants since 1986. About Adavale Resources Limited (ASX: ADD) Adavale Resources Limited (ADD) holds 100% of the Kabanga Jirani Nickel Project (“the Project”) consisting of six granted licences and one application covering nearly 1145km2. These licences are adjacent and along strike from the world’s largest undeveloped nickel sulphide resource, namely The Kabanga Deposit which contains a measured, indicated and inferred resource of 58Mt @ 2.62% Ni (Barrick and Glencore, 2014). The ADD licences are located along a trend of mafic/ultramafic intrusions known as the Kabanga Musongati belt and contain Nickel Sulphide ores and PGE concentrations. Project 1 – Nickel – Kabanga Jirani Nickel Project, Tanzania Adavale Resources Limited also holds 100% of the Lake Surprise Project with three exploration tenements covering nearly 396 km2 within part of the highly prospective sedimentary uranium province within the northern part of the Lake Frome Embayment. These tenements lie within a flat, semi-arid landscape located just to the north of the Flinders Range in South Australia. These include EL 5892 comprising 92km2 , EL 5893 comprising 167km2 and EL 5644 of 137km2. These are known as the: Jubilee Prospect Mookwarinna Prospect Canegrass Swamp Prospect Project 2 – Uranium – Lake Surprise, South Australia The Lake Surprise Project Area is located in South Australia, 550km north of Adelaide, and 70km East of Marree. The company holds 3 tenements, EL5892, EL5893, and EL5644 with a total area of 396 km2. Adavale explored the original tenements in this area between 2007 and 2011 with 486 holes drilled in that period. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. About Samso Keep us informed too! Please let us know your thoughts and send us any comments to info@samso.com.au . Remember to Subscribe to our YouTube Channel , Samso Media and our mail list to stay informed and make comments where appropriate. Other than that, you can also give us a Review on Google . Samso-Brilliant Distribution Partnership Powerful Advertising opportunities for Samso’s ASX and private business clients. The Brilliant-Online partnership is an opportunity to reach new and wider audiences in a fresh, appealing format to pique and retain investor interest. Contact Veronica directly for your special Samso-Brilliant advertising rate. Read Brilliant Investments

Coffee with Samso Episode 135 is with Matthew Boyes, Managing Director of Red Dirt Metals Limited (ASX: RDT) . I first spoke to Matthew Boyes, Managing Director of Red Dirt Metals Limited (ASX: RDT) in May 2021 when the company was known then as TNT Mines Limited. That was the first Coffee with Samso for Matthew and we spoke about the direction of the company then. Check out the Coffee with Samso: The Remaking of the Eureka Gold Mine - TNT Mines Limited (ASX: TIN) - Episode 86 Since the acquisition of the Mt Ida project in September 2021 ( Mt Ida Acquisition, Capital Raise and Presentation ), the company has rebranded themselves and is now on the greater path of developing a Lithium project. The company completed the transaction on 24th September 2021 ( Completion of Mt Ida Acquisition ). In this episode of Coffee with Samso, Matthew gives us an insight into the story of Mt. Ida. The movement in share price and hence, market capitalisation has been remarkable. However, at the moment of writing this, the value of AUD212M according to Matthew, seems to be undervalued. The project brings back recollection of the Mt Holland story, but time will tell if the Mt. Ida lithium story will bring similar fortunes for shareholders of Red Dirt Metal. Chapters: 00:00 Start 00:20 Introduction 01:07 The Mt Ida Story 05:28 What kind of grade does hard rock lithium project need in relation to Red Dirt? 08:36 Advantages of drilling for pegmatites. 10:19 How much of the project has been drilled? 12:22 Can you see consistencies in the geology of the pegmatites? 14:01 What should people look for to understand the Red Dirt Story? 15:32 Explaining the significance of LCT pegmatites. 17:22 Are the proportions of LCT positive or negative? 19:02 What could throw a spanner in the works? 20:21 Is there a type deposit happening in the Lithium industry? 22:32 How does Matthew take this Lithium market? 24:06 Is there such a term as a good or bad lithium project? 25:51 How should investors temper their expectations on the Red Dirt Story? 27:21 The lack of information is mutual. 28:21 Mt Ida is a Gold project too. 31:19 How does the gold sit spatially to the lithium? 32:56 Where does the Gold project sit on the list of things to do? 33:43 News flow. 35:16 What are the brokers saying about RDT? 36:04 How big can Mt Ida be? What is your pitch to Investors out there? 37:36 Samso's thoughts. 38:10 Conclusions PODCAST This is a good time to download the first Ebook (FREE) from Samso as it is all about VMS (Volcanogenic Massive Sulfides). About Matthew Boyes - Managing Director Mr Boyes is a qualified Geologist and Fellow of the Australasian Institute of Mining and Metallurgy with 25 years industry experience with a strong background in minerals resources, project development, construction and operations management. Mr Boyes has recently served as COO for AIM listed Patagonia Gold successfully overseeing the development and construction of two standalone Gold-Silver heap leach projects in southern Argentina. Mr Boyes has significant experience in product evaluations and financing with a focus on the junior market sector. About Red Dirt Metals Limited (ASX: RDT) Red Dirt is focused on the development and evaluation of underexplored brownfields exploration assets in Western Australia. Mt Ida Gold Pty Ltd is the holding company of the Mt Ida Gold Project, comprising 19 tenements in the historical Mt Ida gold mining district, located approximately 100km north-west of Menzies in the WA goldfields. The project tenements cover an area of 155km2 and include the historic Timoni Gold Mine and others, which have produced greater than 300,000 oz gold at 17.2 g/t head grade. Highlights: Acquired from Ora Banda Mining in September 2021 for $11M cash A current gold resource of 318,000 t @13.8g/t gold for 141koz calculated under the JORC 2004 guidelines Evidence of occurrences of Lithium-bearing pegmatites with Tantalum Exploration activities to commence immediately October 2021 The Mt Ida project has total resources of 318,000 t @13.8g/t of gold for 141koz, Indicated resources total 136,000t @ 18.6 g/t gold for 81koz with 182,000t @ 10.3 g/t gold for 60koz in Inferred category. All resource currently stated at Mt Ida are calculated under the JORC 2004 guidelines with no material change to the existing resources since estimation. Lithium Review: Whilst undertaking the technical due diligence of the Mt Ida Project, it was noted that multiple high-grade lithium intervals had been intersected within pegmatite bodies on the western contact of the main Mt Ida granite intrusive, known as the Copperfield Granite. Initial investigations from available data shows pegmatite outcropping in 5 separate locations proximal to the main granitic intrusive, and along the contact with the western bounding mafic amphibolite units which host the high-grade Mt Ida gold copper lodes. A preliminary target corridor has been interpreted and extends for up to 5 km in strike from the most southern-identified outcrop parallel to the granite and north into the Company’s adjacent exploration tenement, with potential to extend further in both directions. Of significance is that no historic exploration has been carried out with the intention of targeting these Lithium bearing pegmatite intrusives. This opens up large areas on both the eastern and western limbs of the granitic intrusive contacts for future exploration and will complement the Company’s aggressive gold/copper exploration program at the Mt Ida Project. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer . About Samso Keep us informed too! Please let us know your thoughts and send us any comments to info@samso.com.au . Remember to Subscribe to our YouTube Channel , Samso Media and our mail list to stay informed and make comments where appropriate. Other than that, you can also give us a Review on Google .

Samso on Mining HQ Podcasts Ep.17 - start 25:53 In a world dominated by social media, what can companies in the mineral sector do? As an industry that is not exactly 'fancy' or visually pleasing, it means that companies have to do things differently. It is vital to be visible, and if a company wants to showcase their story, they have to get out there. As well as gain and maintain engagement. Noel shares ideas on how mineral resource companies can navigate their way through the world of social media. Go to 25:53 Or go to 25:53 - https://open.spotify.com/episode/48ZpfJADj5JFObSBXAxeqG Radio Interviews with Mining HQ reaching out to 100,000 audiences per broadcast Noel Ong of Samso and Chris LeMesurier of 1055 TripleM speak fortnightly on Mining HQ about Mineral Exploration, Commodities and Mineral Resources. For the investors: Our interviews with Mining HQ includes topics to help you make good investment decisions. We also share Stock Picks, Stocks to Watch and Weekly Summaries. For Samso's clients: This is an additional opportunity for you to engage with investors directly. Samso works with a number of Media Partners like MiningHQ and Brilliant-Online to widen your reach. Contact Samso