Mineral Resource


Fraser Range Project

Figure 1: Mawson Mineral Resource Classification projected to surface with drillhole locations and chonolith projected to surface on AMAG

Figure 2: Mawson Mineral Resource Classification – oblique view facing north-west

Mineral Resource Estimate (MRE) of the Mawson Ni-Cu-Co deposit

1.45Mt @ 1.14% Ni, 0.74% Cu, and 0.07% Co (1.2%NiEq )

The following subsections are provided consistent with the ASX Listing Rule 5.8.1. Additional information is provided in the JORC Code (2012) and ASX announcement dated 2 February 2023 click here to view.

This maiden Mineral Resource Estimate was completed by Ashmore Advisory Pty Ltd (Ashmore). The MRE is based on 26 drillholes completed between 2019 and 2021, which consisted of 24 diamond core (DD) and 2 reverse circulation (RC) for 8,938m. All drillholes were assayed where they intersected mineralisation. The mineralisation was modelled from a depth of 65m to 305m below surface. The drillhole spacing is predominantly 20m by 20m across the discovery zone, broadening to approximately 50m by 100m over the remaining areas.

Results of the independent Minerals Resource Estimate by Ashmore for Mawson are tabled in the Statement of Mineral Resources (see Table 1 and Figures 1 and 2).



Ni Metal
Cu Metal
Co Metal

Table 1: Mawson Maiden Mineral Resource Estimate by classification reported above 0.5% NiEq cut-off (refer to ASX announcement dated 2 February 23 click here to view).

*by Ni metal tonnage


Competent Person Statement

The information in this report that relates to Mineral Resources is based on information compiled by Mr Shaun Searle, a Member of the Australian Institute of Geoscientists and a full-time employee of Ashmore Advisory Pty Ltd. Mr Searle has sufficient experience that is relevant to the styles of mineralisation and types of deposit under consideration, and to the activity being undertaken, 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” (JORC Code). Mr Searle consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

All Mineral Resources figures reported in the Table 1 represent estimates at February 2023. Mineral Resource estimates are not precise calculations, being dependent on the interpretation of limited information on the location, shape and continuity of the occurrence and on the available sampling results. The totals contained in the above table have been rounded to reflect the relative uncertainty of the estimate. Rounding may cause some computational discrepancies.