Spitfire Materials Limited: Strong Initial Assays Confirm Quality and Consistency of High-Grade Aphrodite Underground Resource

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STRONG INITIAL ASSAYS CONFIRM QUALITY AND CONSISTENCY OF HIGH-GRADE APHRODITE UNDERGROUND RESOURCE

Results from first four diamond holes confirm new exploration model and support ongoing development studies - assays for remaining nine holes awaited


Key Points:

- Highly encouraging initial assay results received from recently completed 13-hole/6,149.4m resource in-fill and extensional diamond drilling program at the 100%-owned Aphrodite Gold Project near Kalgoorlie in WA.
- Results from the first four diamond holes have confirmed the continuity of the lower Alpha lode over the central portion, validating the Companys updated geology model. Significant assays included:
- 18APD006-10m (at) 3.99g/t Au from 377m including 3m (at) 6.69g/t from 383m
22m (at) 6.28g/t Au from 391m including 10m (at) 11.57g/t Au from 393m
- 18APD003-16m (at) 2.65g/t Au from 322m including 4m (at) 5.13g/t Au from 322m
5m (at) 3.21g/t Au from 330m
12m (at) 11.53g/t Au from 377m
- 18APD001 -17m (at) 2.67g/t Au from 322m including 3m (at) 4.21g/t Au from 325m
3m (at) 6.02g/t Au from 336m
- 18APD002-2m (at) 4.09g/t Au from 373m
- The drilling program was based on an upgraded geological model completed by consultants Model Earth and was designed to test and in-fill the lower Alpha and Phi lodes, with the aim of upgrading the substantial Underground Inferred Resource of 1.4Mt at 7.5g/t for 332,000oz.
- The drilling, together with other ongoing development studies at Aphrodite, will pave the way for a Feasibility Study on the Aphrodite Gold Project in the second half of this year.
- Further extensional diamond drilling planned to commence shortly targeting newly identified opportunities to expand the Underground Inferred Resource from the new geological model.

Spitfire Materials Limited (ASX: SPI) is pleased to advise that it has received highly encouraging initial results from the recently completed resource in-fill and extensional diamond drilling program at its flagship 100%-owned 1.26Moz Aphrodite Gold Project, located 65km north of Kalgoorlie in the Eastern Goldfields of WA (see Figure 4).



The results received so far have confirmed the quality and consistency of the mineralisation within the Underground Inferred Resource of 1.4Mt at 7.5g/t for 332,000oz (see ASX release dated 25 January 2018), supporting the Companys objective of upgrading this Inferred Resource as the cornerstone of its development studies.

The drilling has also provided valuable geotechnical information and metallurgical samples for future underground feasibility work.

Assay results from the first four holes have confirmed the continuity of the lower section of the Alpha lode over 300m, with highlights including 17m (at) 2.67g/t Au from 322m (18APD001), 12m (at) 11.53g/t Au from 377m (18APD003) and 22m (at) 6.28 g/t Au from 391m (18APD006). Assays from the remaining nine holes are expected over the next few weeks.

Spitfires Managing Director, Mr John Young, said: Were off to a great start at Aphrodite, having recently completed our maiden 13-hole diamond drilling program and received the first batch of assays. The drilling was specifically designed to test and in-fill the lower Alpha and Phi lodes, which contain a significant Inferred Resource of 1.4 million tonnes grading 7.5g/t Au for 332,000oz.

The results clearly demonstrate the continuity and quality of the high-grade mineralisation within the key lodes. Importantly, the thick intercepts in holes 3 and 6 correlate with historical intercepts and reinforce the potential to upgrade the central part of the Underground Inferred Resource.

The completion of a new geological model for the deposit has also been a key breakthrough, transforming our understanding of the geometry, orientation and controls on the mineralisation and highlighting a number of areas where we see clear potential to expand the current Resource. This potential will be tested by further diamond drilling, which is planned to commence shortly while we await the balance of the Phase 1 assays.

Aphrodite Diamond Drilling Program

The HQ diamond drilling program has been completed at Aphrodite, with a total of 13 holes completed for 4959.6m of core and 1189.8m of RC/Mud Rotary. The results received to date indicate that the lower footwall zone in the Alpha lode is continuous. As a result, the Company intends to extend the current program with two further holes planned on the deeper extensions to the Alpha Lode.

Assay results have been received for the first four holes (18APD001-003, and 18APD006), which were designed to intersect the Alpha Lode between the 200mRL and the 100mRL within the Inferred section of the resource. Drilling here was spaced at 80m along section lines. Drilling along this section of the Alpha zone is now at 40m by 40m spacings (see Figures 1-3 which illustrate the drilling results received from the first four holes - sections 6659760mN to 6660000mN).

Hole 18APD002 returned an intercept of 2m (at) 4.09 g/t Au from 373m along the footwall zone on section 6659840mN in a geologically similar position to 18APD003. Further investigation of the zone is required, detailed logging and resampling of this interval is underway. The lodes are structurally controlled and it is believed late stage folding and crenulation is responsible for large scale upright folds, these shallow north north-east plunging folds are believed to control the high grade ore geometry (shoots) of 20-25° towards 340°.

The high grade mineralization in the lower portion the Alpha orebody is generally related to a distinctive set of tension array of quartz veinlets associated with intense silica-sericite-biotite alteration. These higher grade (Au) narrow vein networks are associated with an increase in arsenopyrite and grades are often in excess of 10 g/t Au, this is clearly the case in the lower section of the footwall zone in 18APD006 (10m (at) 11.57g/t Au from 393m).

The Alpha deeps style of mineralization is more closely aligned to the main Alpha shear (5-15m wide) and sits within the felsic volcaniclastic/porphyry host and has a steep linear geometry.

Highlights of the first four holes are as follows:

- 18APD001 -17m (at) 2.67 g/t Au from 322m, including
3m (at) 4.21g/t Au from 325m; and
- 18APD002-3m (at) 6.02g/t Au from 336m
2m (at) 4.09 g/t Au from 373m
- 18APD003-16m (at) 2.65 g/t Au from 322m, including
4m (at) 5.13 g/t Au from 322m and
5m (at) 3.21g/t Au from 330m; and
4m (at) 4.38 g/t Au from 355m; and
12m (at) 11.53 g/t Au from 377m
- 18APD006-2m (at) 5.83 g/t Au from 45m; and
10m (at) 3.99 g/t Au from 377m, including
3m (at) 6.69 g/t Au from 383m
22m (at) 6.28 g/t Au from 391m, including
10m (at) 11.57 g/t Au from 393m
http://www.irw-press.at/prcom/images/messages/2018/43078/SPI ASX Drilling Results Aphrodite April 2018 FINALprcom.001.png

Figure 1: Cross Section 6,660,000mN
http://www.irw-press.at/prcom/images/messages/2018/43078/SPI ASX Drilling Results Aphrodite April 2018 FINALprcom.002.png

Figure 2: Cross Section
http://www.irw-press.at/prcom/images/messages/2018/43078/SPI ASX Drilling Results Aphrodite April 2018 FINALprcom.003.png

Figure 3: Drill Hole Location Plan

APHRODITE GOLD PROJECT - BACKGROUND

The Aphrodite Gold Project is located 65km north of Kalgoorlie in the Eastern Goldfields of Western Australia and has a long history of exploration and resource estimation by several parties dating from its discovery in the mid-1990s.

The Aphrodite deposit is covered by five contiguous Mining Leases which are 100%-owned by Aphrodite. All five tenements have been granted for a 21-year life, with the earliest expiry date in 2028.

The Aphrodite mineralisation and current Mineral Resource estimate is situated in the Kalgoorlie Terrane of the Yilgarn Craton, and within the Bardon Tectonic Zone - a high-strain zone in supracrustal rocks extending about 120km north of Kalgoorlie. The Aphrodite prospect comprises a suite of intermediate to felsic porphyries that have intruded a sequence of basalts and dominantly volcanic-derived epiclastic rocks. The main zones of mineralisation defined so far (the near vertically-dipping Alpha and Phi lodes) lie within a regional N-S sericite-pyrite-arsenopyrite alteration system that extends for about 3km along strike.
http://www.irw-press.at/prcom/images/messages/2018/43078/SPI ASX Drilling Results Aphrodite April 2018 FINALprcom.004.png

Figure 4: Aphrodite Gold Project, Geology and Location Plan

Domain Indicated Inferred Indicated +
Inferred

TonnesGold TonneGold TonneGold
s s

(Mt) (g/t(koz)(Mt) (g/t(koz)(Mt) (g/t(koz)
) ) )

OP (0.5g/t 6.2 2.1 411 4.0 1.5 187 10.2 1.8 598
cut-off)

UG (3.0g/t 1.6 6.6 330 1.4 7.5 332 2.9 7.0 663
cut-off)

Total 7.8 3.0 741 5.3 3.0 520 13.1 3.0 1,261
Resource
McDonald Speijers Aphrodite Project Resource Estimation

The resource estimate was classified in accordance with the Australasian Code for Reporting of Identified Mineral Resources and Ore Reserves (JORC Code 2012) - Refer ASX Release 25 January 2018.

DISCLAIMERS AND FORWARD-LOOKING STATEMENTS
This announcement contains forward looking statements. Forward looking statements are often, but not always, identified by the use of words such as "seek", target, "anticipate", forecast, "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions.

The forward-looking statements in this announcement are based on current expectations, estimates, forecasts and projections about Spitfire and the industry in which they operate. They do, however, relate to future matters and are subject to various inherent risks and uncertainties. Actual events or results may differ materially from the events or results expressed or implied by any forward-looking statements. The past performance of Spitfire is no guarantee of future performance.

None of Spitfires directors, officers, employees, agents or contractors makes any representation or warranty (either express or implied) as to the accuracy or likelihood of fulfilment of any forward-looking statement, or any events or results expressed or implied in any forward-looking statement, except to the extent required by law. You are cautioned not to place undue reliance on any forward-looking statement. The forward-looking statements in this announcement reflect views held only as at the date of this announcement.

For further information contact:
INVESTORS:---
John Young-Spitfire Materials Limited-
Telephone:-0419 954 020-
Email:-admin(at)spitfirematerials.com.au -

MEDIA:
Nicholas Read-Read Corporate
Telephone:-0419 929 046
Email:-info(at)readcorporate.com.au

Competent Persons Statement
The Company confirms it is not aware of any new information or data that materially affects the information included in the 25 January 2018 Aphrodite Mineral Resource Estimate and that all material assumptions and technical parameters underpinning the estimate continue to apply and have not materially changed when referring to its resource announcement made on January 25, 2018.
The information in this announcement relating to Exploration Targets, Exploration Results and Mineral Resources is based on information compiled by the Companys proposed Managing Director, Mr John Young, a competent person, who is a Member of the Australian Institute of Mining and Metallurgy. Mr Young has sufficient experience relevant to the style of mineralisation and to the type of activity described 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 Young has disclosed to the Company that he is a substantial shareholder in the Company. Mr Young consents to the inclusion in this announcement of the matters based on his information in the form and content in which it appears.


Appendix 1
Table 1 - Drill Hole Location Table

Hole ID Collar Collar CollaDipAziPre-Max
North East r coll Depth
(AMG84_51) (AMG84_5 RL ar
1) D
epth

18APD001 6659760 329475 390 -6027091 421
18APD002 6659840 329480 390 -6027089 462.7
18APD003 6659920 329465 390 -6027083.6471.8
18APD004 6659960 329540 390 -6027080 612.8
18APD005 6660000 329335 390 -6027096 306.1
18APD006 6660000 329435 390 -6027096 451.1
18APD007 6660000 329535 390 -6027084 631.7
18APD008 6660060 329185 390 -60270120.504.9
7

18APD009 6659720 329475 390 -6027094 383
18APD010 6659680 329450 390 -60270113.290.8
5

18APD011 6659560 328930 390 -6590 71 435.8
18APD012 6659600 328855 390 -6590 87 579.9
18APD013 6659880 329280 390 -6527084 597.8


Table 2 - Significant Intersections (> 0.5g/t Au) Drilling

Hole_ID From(mTo(m) Length(m) Intersection >1 g/t
) Au (all
uncut)

18APD001 80 83 3 1.14
18APD001 267 269 2 4.41
18APD001 279 280 1 1.84
18APD001 287 290 3 1.43
18APD001 308 317 9 1.06
18APD001 322 339 17 2.67
including 325 328 3 4.21
including 336 339 3 6.02
18APD002 77 80 3 0.89
18APD002 134 136 2 1.23
18APD002 195 196 1 1.08
18APD002 254 255 1 3.94
18APD002 290 291 1 1.40
18APD002 316 318 2 1.23
18APD002 373 375 2 4.09
18APD002 381 382 1 1.14
18APD003 83.6 86 2.4 2.55
18APD003 89 91 2 1.91
18APD003 120 121 1 2.55
18APD003 264 274 10 0.82
including 270 274 4 1.16
18APD003 322 338 16 2.65
including 322 326 4 5.13
Including 330 335 5 3.21
18APD003 *355 359 4 4.38
18APD003 377 389 12 11.53
18APD006 45 47 2 5.83
18APD006 52 56 4 0.91
18APD006 62 68 6 0.90
18APD006 72 73 1 1.03
18APD006 374 375 1 1.12
18APD006 377 387 10 3.99
including 383 386 3 6.69
18APD006 391 413 22 6.28
including 393 403 10 11.57
18APD006 417 419 2 2.60
18APD006 428 435 7 1.73
18APD006 438 439 1 1.71
*Results from assays either side of this intersection have not been received as yet



JORC Code, 2012 Edition - Table 1 report - Aphrodite
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Criteria JORC Code explanation Commentary
Sampling · Nature and quality of sampling (eg cut · The Aphrodite Gold drill sample data
techniqu channels, random chips, or specific has been collected by various
es exploration companies between 1992 and
specialised industry standard measurement 2018 Drilling programs included Rotary
tools appropriate to the minerals under Air Blast (RAB), and Reverse
investigation, such as down hole gamma Circulation (RC) Diamond (DD) drilling
techniques
sondes, or handheld XRF instruments, etc).
These examples should not be taken as
limiting the broad meaning of
sampling. · The February-April 2018 drill program
completed by Spitfire Materials
· Include reference to measures taken to Limited(SPI) totaled 13 RC/Mud Rotary
ensure sample
Precollars with Diamond tails for 6149.4m
representivity and the appropriate .
calibration of any measurement tools or
systems
used. · About 80% reverse circulation chips
and 20% half or quarter core.
· Aspects of the determination of minerali
sation
that are Material to the Public Report. · Chips over 1m rotary or riffle split
· In cases where industry standard work on site to ~3kg and core was sawn on 1m
has been done this would be relatively intervals.
simple
( · Continuous sampling below unmineralised
eg reverse circulation drilling was used overburden
to obtain 1 m samples from which 3 kg layer.
was
· Chips crushed to 3mm then 2.5kg
pulverised to produce a 30 g charge for pulverized, core crushed and pulverized
fire assay). In other cases more entirely.
explanation may be required, such as
where there is coarse gold that has · Standard 50g fire assay (84%), AR
inherent sampling problems. Unusual digest on unknown
commodities or (16%).

mineralisation types (eg submarine · Large number of drilling programs by
nodules) may warrant disclosure of several owners over 20-year
detailed period.
information.

Drilling · Drill type (eg core, reverse · Reverse circulation (80%) and HQ or NQ
techniqu circulation, open-hole hammer, rotary core
es air blast, auger, Bangka, sonic, (20%)

etc) and details (eg core diameter, · Aircore and rotary air blast holes
triple or standard tube, depth of excluded from resource
diamond tails, face-sampling bit or estimation.
other type, whether core is oriented and
if so, by what method,

etc).
Drill · Method of recording and assessing core · All core measured in tray for recovery.
sample and chip sample recoveries and results · Chip recovery not documented for
recovery assessed. historic
drilling.
· Measures taken to maximise sample
recovery and ensure representative · Generally high core recovery recorded.
nature of the · RC chip recovery in recent drilling
samples. recorded by weight but not recorded in
most historic drilling (prior to
· Whether a relationship exists between 2010).
sample recovery and grade and whether
sample bias may have occurred due to · No observed relationship between
preferential loss/gain of fine/coarse recovery and
material. grade.

Logging · Whether core and chip samples have been · All core and chip intervals
geologically and geotechnically logged geologically
to a level of detail to support logged.
appropriate Mineral Resource estimation,
mining studies and metallurgical · Historic logging retrieved and
studies. combined with recent data with some
minor gaps in
· Whether logging is qualitative or metadata.
quantitative in nature. Core (or
· Logging includes lithologies,
costean, channel, etc) photography. alteration, mineralization,
· The total length and percentage of the
relevant intersections colour, oxidation, regolith, moisture,
logged. etc.

· Purpose drilled core holes for
metallurgical and geotechnical data
collection.

Sub-sampl· If core, whether cut or sawn and · Core was half or quarter sawn
ing whether quarter, half or all core depending on
techniqu taken. program.
es and
sample · If non-core, whether riffled, tube · Chips were rotary or riffle split
preparat sampled, rotary split, depending on program but generally in
ion accordance with standard industry
etc and whether sampled wet or dry. methods at the time of the program.
· For all sample types, the nature, Limited wet samples were speared in
quality and appropriateness of the historic
sample preparation drilling.
technique.
· Duplicate field samples taken from RC
· Quality control procedures adopted for chips for most programs. 1 in 20 for
all sub-sampling stages to recent drilling and well recorded. More
variable in historic drilling and
maximise representivity of samples. details not always well
· Measures taken to ensure that the recorded.
sampling is representative of the in
situ material collected, including for · Duplicate sampling of sawn core in
instance results for field recent
duplicate/second-half drilling.
sampling.
· Sample sizes are generally considered
· Whether sample sizes are appropriate to adequate within the bounds of what is
the grain size of the material being practical.
sampled.

Quality · The nature, quality and appropriateness · SPI - All samples for the 2018 drill
of of the assaying and laboratory program were assayed by Fire Assay with
assay procedures used and whether the ICP finish for Au, and Peroxide Fusion
data technique is considered partial or Digest with ICP finish for As, S &
and total. Cu
laborato
ry · For geophysical tools, spectrometers, · Majority of samples prepared and
tests handheld XRF instruments, assayed by industry standard techniques
for gold deposits using well
etc, the parameters used in determining established laboratory
the analysis including instrument make services.
and model, reading times, calibrations
factors applied and their derivation, · Recent checking of fire assays by bulk
etc. Leachwell
and screen fire methods to guard
· Nature of quality control procedures against the possible presence of coarse
adopted free gold grains and to investigate
( refractory character of
eg standards, blanks, duplicates, mineralization.
external laboratory checks) and whether
acceptable levels of accuracy · Blind field duplicates submitted as
( well as reference standards although
ie lack of bias) and precision have been documentation not always well preserved
established. in historic programs due to ownership
changes.

· Interlab checks undertaken during
recent drilling but not recorded in
historic
programs.

Verificat· The verification of significant · No specific twin hole program has been
ion of intersections by either independent or undertaken but there are numerous
sampling alternative company opportunistic twin holes that show
and personnel. reasonable correlation given the nature
assaying of the mineralization but this must
· The use of twinned holes. necessarily be a qualitative
· Documentation of primary data, data comparison.
entry procedures, data verification,
data storage (physical and electronic)
protocols.

· Discuss any adjustment to assay data.
Location · Accuracy and quality of surveys used to · Downhole surveys by gyro, multi shot
of data locate drill holes (collar and down-hole or single shot, generally on nominal
points surveys), trenches, mine workings and 30m intervals. One batch of recent RC
other locations used in Mineral Resource drilling suffered from instrumental
estimation. errors on dip
measurements.
· Specification of the grid system used.
· Quality and adequacy of topographic · Collars located by standard survey for
control. recent drilling. Details for historic
drilling not always well recorded but
at least some were documented as
location by regular
survey.

· Grid system based on AMG84 Zone 51.
Coordinates truncated for modelling
purposes.

· Surface topography wireframe
constructed from drill collar elevation
data. Topographic relief is very
low.

· Some historic hole collars set at
nominal elevations and required minor
adjustment to the topo surface. Any
errors in this process are considered
small and are not critical to the
resource
estimation.

Data · Data spacing for reporting of · Data spacing is highly variable,
spacing Exploration particularly in deeper parts and
and Results. lateral extremes of the mineralization
distribu where it may be
tion · Whether the data spacing and sparse.
distribution is sufficient to establish
the degree of geological and grade · The mineralization is contained within
continuity appropriate for the Mineral broad structural zones but is not
Resource and Ore Reserve estimation always able to be readily correlated
procedure(s) and classifications between
applied. intersections.

· Whether sample compositing has been · The estimation technique has been
applied. chosen to deal with this issue and it
also reflects in the assigned resource
categories.

Orientati· Whether the orientation of sampling · Broad mineralizing structures are well
on of achieves unbiased sampling of possible recognized and sub-vertical to steep
data in structures and the extent to which this dipping.
relation is known, considering the deposit
to type. Mineralised sub-structures appear to be
geologic mostly parallel to broader
al · If the relationship between the zones.
structur drilling orientation and the orientation
e of key · Drill holes are generally oriented to
be as perpendicular as possible to
mineralised structures is considered to these structures, that is east or west
have introduced a sampling bias, this orientation and inclined at
should be assessed and reported if approximately 60
material. degrees.

· Some holes are oriented on north-south
sections where an additional

mineralised cross structure has been
postulated.

Sample · The measures taken to ensure sample · Samples hand delivered to sample
security security. preparation facility in
Kalgoorlie
and Perth for recent drilling but the
procedure is not documented for
historic
drilling.

Audits · The results of any audits or reviews of · Internal audits of sampling techniques
or sampling techniques and as well as data handling and validation
reviews data. was regularly conducted by Aphrodite
Geologists prior to the merger, as part
of due diligence and continuous
improvement and review of procedures.

Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Criteria JORC Code explanation Commentary
Mineral t· Type, reference name/number, location · Aphrodite Gold is now a wholly-owned
enement and ownership including subsidiary of Spitfire Materials
and
land agreements or material issues with third Ltd and has 100% ownership of 5 mining
tenure parties such as joint ventures, leases, 1 exploration
status partnerships, overriding royalties,
native title interests, historical licence and 2 prospecting licences that
sites, wilderness or national park and cover the project area. All are granted
environmental with the mining leases nearest expiry
settings. year being
2028.
· The security of the tenure held at the
time of reporting along with any known · There are no known environmental or
impediments to obtaining a heritage encumbrances in the immediate
vicinity of the deposit which might
licence to operate in the area. impact on its
exploitation.

Explorati· Acknowledgment and appraisal of · Project has had many owners over more
on done exploration by other than 20 years and has been reviewed
by parties. multiple times. However not many
other historical documents are currently
parties available.

Geology · Deposit type, geological setting and · Discontinuous shoots of low to
style of moderate tenor gold

mineralisation. mineralisation within two broader
sub-parallel

mineralised structural zones. Mineralisat
ion
is beneath a substantial thickness of
leached overburden. Free milling in
upper oxidized and partially oxidized
zones but mostly refractory in the
primary
zone.

Drill · A summary of all information material · Appendix 1, Table 1 provided the
hole to the understanding of the exploration survey information.
Informat results including a tabulation of the Th
ion following information for all Material e previous drilling was reported by
drill Aphrodite Gold Limited (ASX: AQQ) prior
holes: to the merger with
Spitfire.
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 · In reporting Exploration Results, · Drilling completed is reported
aggregat weighting averaging techniques, maximum intervals that were length weighted in
ion and/or minimum grade truncations the downhole direction. This ensured
methods ( that smaller intervals receive less
eg cutting of high grades) and cut-off weighting.
grades are usually Material and should
be · No high-grade cut-off were applied to
stated. exploration/infill
drilling
· 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.

Relations· These relationships are particularly · Mineralisation at Aphrodite is
hip important in the reporting of interpreted to be hosted by shear zone
between Exploration and linking structures within the BTZ
Results. which trends about
mineralis NNW.
atio · If the geometry of the mineralisation wi
n widths th respect to the drill hole angle · Typically, the angular difference
and between the
intercepis known, its nature should be reported.
t · If it is not known and only the down drillholes and mineralisation is about
lengths hole lengths are reported, there should 35º, given the sub-vertical nature of
be a clear statement to this effect the mineralised
( bodies.
eg down hole length, true width not
known).

Diagrams · Appropriate maps and sections (with · Schematic Cross Sections and Drill
scales) and tabulations of intercepts hole plan are provided for reference to
should be included for any significant the
discovery being reported These should
include, but not be limited to a plan drilling . The previous drilling was
view of drill hole collar locations and reported by Aphrodite Gold Limited
appropriate sectional (ASX: AQQ) prior to the merger with
views. Spitfire.

Balanced · Where comprehensive reporting of all · The previous drilling was reported by
reportin Exploration Results is not practicable, Aphrodite Gold Limited (ASX: AQQ) prior
g representative reporting of both low and to the merger with
high grades and/or widths should be Spitfire.
practiced to avoid misleading reporting
of Exploration
Results.

Other · Other exploration data, if meaningful · The previous exploration work
substant and material, should be reported completed on the deposit was done by
ive including (but not limited to): previous owners and are too extensive
explorat geological observations; geophysical to report in the context of this
ion survey results; geochemical survey announcement.
data results; bulk samples - size and method
of treatment; metallurgical test
results; bulk density, groundwater,
geotechnical and rock characteristics;
potential deleterious or contaminating
substances.

Further · The nature and scale of planned further · Spitfire is planning further diamond
work work drill
( program
eg tests for lateral extensions or depth s to infill and upgrade the Aphrodite
extensions or large-scale step-out JORC resource reported
drilling). above.

· Diagrams clearly highlighting the areas
of possible extensions, including the
main geological interpretations and
future drilling areas, provided this
information is not commercially
sensitive.




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Date: 04/16/2018 - 07:50
Language: English
News-ID 1534842
Character count: 3355
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Firma: Spitfire Materials Limited
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Stadt: Wien
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