Ausmon Resources : Addendum to ASX release of 2 February 2022

For personal use only

4 February 2022

ASX Market Announcements

ADDENDUM TO "FIELD EXPLORATION COMMENCED AT EL8954 AND EL9252" RELEASE OF 2 FEBRUARY 2022

The following addendum is to be included in the "Field exploration commenced at EL8954 and EL9252" release of 2 February 2022:

Authorised by:

Eric Sam Yue

Executive Director / Company Secretary

Contact telephone: [phone]

AUSMON RESOURCES LIMITED ABN 88 134 358 964

'World Tower" Suite 1312, 87-89 Liverpool Street, Sydney NSW 2000 Australia.

PO BOX 20188 World Square, NSW 2002 Australia

Tel: [phone] Fax: [phone] Email: [e-mail]

www.ausmonresources.com.au ASX code: AOA

JORC Code, 2012 Edition - Table 1 Brungle Creek and McAlpine Base Metal Project Field Work Commenced - February 2022

Section 1 Sampling Techniques and Data for Honeysuckle Prospect

only
	Criteria	JORC Code explanation	Commentary
	Sampling	• Nature and quality of sampling (e.g., cut channels, random chips, or	• The alteration targets are obtained from processing of satellite
	techniques	specific specialised industry standard measurement tools appropriate	imagery by Perth based consultant Earthscan who purchased satellite
		to the minerals under investigation, such as down hole gamma	imagery and processed the imagery to generate "alteration targets".
		sondes, or handheld XRF instruments, etc). These examples should	Alteration is the process whereby primary rock minerals are "altered"
		not be taken as limiting the broad meaning of sampling.	by incoming fluids that may or may not be mineralised. The next
use		• Include reference to measures taken to ensure sample representivity	stage is to carry out soil sampling across the target areas and
	and the appropriate calibration of any measurement tools or systems	analyse the soil samples for gold and multi element geochemistry.
	used.	• The gold and copper targets are based on historical rock sampling
		• Aspects of the determination of mineralisation that are Material to the	located in the NSW Mines Department Minview GIS Database. These
		Public Report.	area will be evaluated via grid-based surface geochemical exploration
		• In cases where 'industry standard' work has been done this would be	to determine the extent of any possible gold and copper anomalism.
		relatively simple (e.g., 'reverse circulation drilling was used to obtain 1
		m samples from which 3 kg was pulverised to produce a 30 g charge
		for fire assay'). In other cases, more explanation may be required,
personalr		such as where there is coarse gold that has inherent sampling
	problems. Unusual commodities or mineralisation types (e.g.,
	submarine nodules) may warrant disclosure of detailed information.
	Drilling	• Drill type (e.g., core, reverse circulation, open-hole hammer, rotary air	• Not applicable as no field based exploration was completed
	techniques	blast, auger, Bangka, sonic, etc) and details (e.g., core diameter,
		triple or standard tube, depth of diamond tails, face-sampling bit or
		other type, whether core is oriented and if so, by what method, etc).
	Drill sample	• Method of recording and assessing core and chip sample recoveries	• Not applicable as no field based exploration was completed
	recovery	and results assessed.
		• Measures taken to maximise sample recovery and ensure
		representative nature of the samples.
		• Whether a relationship exists between sample recovery and grade
		and whether sample bias may have occurred due to preferential
		loss/gain of fine/coarse material.
	Logging	• Whether core and chip samples have been geologically and	• Not applicable as no field based exploration was completed
		geotechnically logged to a level of detail to support appropriate
		Mineral Resource estimation, mining studies and metallurgical
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	Criteria			JORC Code explanation		Commentary
				studies.
				• Whether logging is qualitative or quantitative in nature. Core (or
				costean, channel, etc) photography.
				• The total length and percentage of the relevant intersections logged.
	Sub-sampling		• If core, whether cut or sawn and whether quarter, half or all core		• Not applicable as no field based exploration was completed
	techniques		taken.
	and sample		• If non-core, whether riffled, tube sampled, rotary split, etc and
	preparation		whether sampled wet or dry.
				• For all sample types, the nature, quality and appropriateness of the
				sample preparation technique.
				• Quality control procedures adopted for all sub-sampling stages to
				maximise representivity of samples.
				• Measures taken to ensure that the sampling is representative of the
				in-situ material collected, including for instance results for field
				duplicate/second-half sampling.
				• Whether sample sizes are appropriate to the grain size of the material
				being sampled.
	Quality of		• The nature, quality and appropriateness of the assaying and		Not applicable as no field based exploration was completed
	assay data		laboratory procedures used and whether the technique is considered
	and		partial or total.
	laboratory		• For geophysical tools, spectrometers, handheld XRF instruments, etc,
	tests		the parameters used in determining the analysis including instrument
				make and model, reading times, calibrations factors applied and their
				derivation, etc.
				• Nature of quality control procedures adopted (e.g., standards, blanks,
				duplicates, external laboratory checks) and whether acceptable levels
				of accuracy (i.e., lack of bias) and precision have been established.
	Verification of		• The verification of significant intersections by either independent or		Not applicable as no field based exploration was completed
	sampling and		alternative company personnel.
	assaying		• The use of twinned holes.
				• Documentation of primary data, data entry procedures, data
				verification, data storage (physical and electronic) protocols.
				• Discuss any adjustment to assay data.
	Location of		• Accuracy and quality of surveys used to locate drill holes (collar and		• Not applicable as no field based exploration was completed
	data points		down-hole surveys), trenches, mine workings and other locations
				used in Mineral Resource estimation.
				• Specification of the grid system used.
				• Quality and adequacy of topographic control.
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	Criteria		JORC Code explanation		Commentary
	Data spacing	• Data spacing for reporting of Exploration Results.		• Data spacing of alteration is based on the processed satellite imagery
	and	• Whether the data spacing, and distribution is sufficient to establish		and the extent of clay and carbonate alteration as defined by the
	distribution	the degree of geological and grade continuity appropriate for the		satellite imagery processing.
			Mineral Resource and Ore Reserve estimation procedure(s) and
			classifications applied.
			• Whether sample compositing has been applied.
	Orientation of	• Whether the orientation of sampling achieves unbiased sampling of		• Not applicable as no field based exploration was completed
	data in	possible structures and the extent to which this is known, considering
	relation to	the deposit type.
	geological	• If the relationship between the drilling orientation and the orientation
	structure	of key mineralised structures is considered to have introduced a
			sampling bias, this should be assessed and reported if material.
	Sample	• The measures taken to ensure sample security.		• Not applicable as no field based exploration was completed
	security
	Audits or	• The results of any audits or reviews of sampling techniques and data.		• The historical rock sample results were viewed in the NSW Minview
	reviews			GIS database and verified by the NSW Mines Department

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

	Criteria			JORC Code explanation		Commentary
	Mineral		• Type, reference name/number, location and ownership including		• Alteration targets were developed by Earthscan and completed for
	tenement and		agreements or material issues with third parties such as joint		EL 8954 (Brungle Creek) and EL 9252 , in New South Wales,
	land tenure		ventures, partnerships, overriding royalties, native title interests,		Australia
	status		historical sites, wilderness or national park and environmental		• The tenements are owned by New Base Metals Pty Ltd, a wholly-
				settings.		owned subsidiary of Ausmon Resources Limited.
				• The security of the tenure held at the time of reporting along with any	• The tenements are located in New South Wales approximately 15km
				known impediments to obtaining a licence to operate in the area.		East of Tumut.
					• Tumut is the nearest major town.
					• There are no JVs and Royalties
					• There are no Native Title claimants
					• The tenements are located in the Snowy Valley Shire.
	Exploration		• Acknowledgment and appraisal of exploration by other parties.		• There has been no drill testing of any of the historical prospects.
	done by other				• Metech explored for PGM mineralisation in 1987 completing heavy
	parties				mineral and stream/rock sampling.
						• In 1990 Helix undertook stream and rock sampling for PGE Minerals
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	Criteria			JORC Code explanation		Commentary
						• In 2000 Anaconda carried out a brief reconnaissance for nickel
						hosted laterite mineralisation
	Geology		• Deposit type, geological setting and style of mineralisation.		• The exploration targets are cobalt, nickel copper and chromite
						mineralisation associated with serpentinised ultramafics of the Coolac
						Serpentinite Belt and gold/copper associated with felsic intrusions
	Drill hole		• A summary of all information material to the understanding of the		• Not applicable as no field based exploration was completed
	Information		exploration results including a tabulation of the following information
				for all Material drill holes:
				o easting and northing of the drill hole collar
				o elevation or RL (Reduced Level - elevation above sea level in
				metres) of the drill hole collar
				o dip and azimuth of the hole
				o down hole length and interception depth
				o hole length.
				• If the exclusion of this information is justified on the basis that the
				information is not Material and this exclusion does not detract from
				the understanding of the report, the Competent Person should clearly
				explain why this is the case.
	Data		• In reporting Exploration Results, weighting averaging techniques,		•Not applicable as no field based exploration was completed
	aggregation		maximum and/or minimum grade truncations (e.g., cutting of high
	methods		grades) and cut-off grades are usually Material and should be stated.
				• Where aggregate intercepts incorporate short lengths of high-grade
				results and longer lengths of low-grade results, the procedure used
				for such aggregation should be stated and some typical examples of
				such aggregations should be shown in detail.
				• The assumptions used for any reporting of metal equivalent values
				should be clearly stated.
	Relationship		• These relationships are particularly important in the reporting of		• Not applicable as no field based exploration was completed
	between		Exploration Results.
	mineralisation		• If the geometry of the mineralisation with respect to the drill hole
	widths and		angle is known, its nature should be reported.
	intercept		• If it is not known and only the down hole lengths are reported, there
	lengths		should be a clear statement to this effect (e.g., 'down hole length, true
				width not known').
	Diagrams		• Appropriate maps and sections (with scales) and tabulations of		• A map showing the all-sample locations in relation to EL 8954, is
				intercepts should be included for any significant discovery being		included in the announcement.
				reported These should include, but not be limited to a plan view of
				drill hole collar locations and appropriate sectional views.
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