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Aeon Metals Ltd.

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Summary

Project:

Walford Creek

Deposit:Vardy
Location:Australia
Commodities:Copper-Cobalt-Lead-Zinc-Silver
Date:12/22/2016
Report Code:JORC
Report Type:Resource Estimation
Project Stage:Pursuing Resource Increase/Upgrade
Report details:22-12-2016: Aeon Metals Ltd. announces a Resource Estimation report for its Vardy deposit at the Walford Creek project. Updated Vardy Zone mineral resource estimate. Aeon Metals Ltd (“Aeon” or “the Company”) conducted two successful drill campaigns in 201
Resources:(Resource, Total): 6.6Mt @ 1.25% Cu, 0.16% Co, 0.74% Pb, 0.76% Zn, 25.6g/t Ag
CP/QP:[Resources]: Simon Tear (H&S Consultants Pty Ltd.)
ABSTRACT:Aeon Metals Ltd (“Aeon” or “the Company”) conducted two successful drill campaigns in 2016 during which time a higher-grade Resource was delineated within the larger Walford Creek Project Resource. This Resource (“Vardy Zone”) announced on 25 October 2016 was calculated using the May/June 2016 drilling completed within the eastern 1km of the Global Resource Estimate. The Vardy Zone high-grade Resource estimate contains significant copper and cobalt with lower grades of lead, zinc and silver. This latest Vardy Zone Resource shown below is calculated on all drilling completed over this 1km of strike and includes both the May/June 2016 drilling program results (20 holes for 3,451m) and the September/October 2016 program results (8 holes for 578.5 metres). The September/October drill program was undertaken within the original Vardy Zone block model. That drilling has provided greater geological and geochemical understanding of the northern mineralised boundary of the Vardy Zone and opened up a potential mineralised splay towards the north east of Vardy. This revised Vardy Zone Resource Estimate, which includes this latest drilling, is in line with increased drilling within the original block model from October. The new estimate has shown an increase in the tonnage of the Measured category of 0.5mt with previous Indicated category blocks being reallocated to the Measured category.

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