AuKing Mining Limited Prospectus

A U K ING M INING L IMITED I NDEPENDENT T ECHNICAL A SSESSMENT R EPORT – W ESTERN A USTRALIAN M INERAL A SSETS CSA Global Report Nº R278.2020 33 CSA Global do not recommend focusing further exploration drilling on geochemical targets. Nevertheless, the extensive and high quality geochemical database should not be ignored in evaluating and refining exploration programs. It has been noted by previous workers that shallow drilling across the Koongie Park project is considered ineffectual due to the substantial depletion of base metals in the regolith which has occurred. CSA Global concur with this view and recommend that future drilling needs to intersect target zones at least 100 m below surface. Litho‐geochemistry using suitable pathfinder elements of fresh (unoxidised) drillhole samples would be an effective exploration tool, as it can significantly enlarge the ore target. Litho‐geochemistry could uncover significant geochemical haloes associated with mineralisation and be used to vector towards major deposits. 2.11.5 Geophysics CSA Global endorses AuKing’s strategy of using geophysical methods to drive future exploration endeavours. Newexco (Amann, 2014) reviewed the geophysical interpretation for the Koongie Park project and concluded that the 50 km of strike of the project was incompletely explored by appropriate geophysical methods and that it was not unreasonable to expect that further VMS deposits could be discovered along the interpreted strike extent using geophysical methods. Newexco made these observations: • Koongie mineralisation is highly conductive • Koongie and other mineralisation are lenses • Country rock is highly resistive • Depth of weathering on sulphides is greater than elsewhere • Koongie mineralisation (or part thereof) responds to EM methods • Mineralisation tends to follow a main trend. 2.11.6 GSWA Prospectivity Analysis of the Halls Creek Region The GSWA recently undertook a comprehensive multicommodity prospectivity analysis of the Halls Creek Orogen (Occhipinti et al., 2016). This multi‐author study used a GIS driven, minerals system approach and developed a comprehensive set of prospectivity maps and images. The lead‐zinc‐copper‐silver prospectivity map (Figure 15) generated by the GSWA highlighted the area of AuKing’s tenements as the most prospective for these metals in the region, while the report stated: “The prospectivity analysis outlined that areas of volcano-sedimentary rocks of the Koongie Park Formation that are adjacent to deep crustal-scale structures are most prospective for Pb–Zn–Cu–Ag deposits, particularly adjacent to the Central–Eastern zone boundary, and in the southern part of the Central zone.” “The Cu–Pb– Zn–Ag occurrences and deposits in the Koongie Park Formation formed as volcanogenic massive sulphides.” Figure 15 highlights those areas assigned the highest prospectivity ranking in “warmer” colours, with the Koongie Park area, just south of Halls Creek, clearly coloured orange and red. Known base metal occurrences and deposits are mapped with square symbols. This independent government sponsored study has identified AuKing’s tenement holdings as being located in the most prospective area within the Orogen for lead‐zinc‐copper‐silver deposits. 6. Independent Technical Report continued 108