Bardoc Gold : El Dorado continues to grow with high grade zone at depth

9 JANUARY 2020

ASX/MEDIA RELEASE

EL DORADO CONTINUES TO GROW WITH NEW RESULTS

EXTENDING BROAD HIGH-GRADE ZONE AT DEPTH

Significant widths and grades returned in multiple holes outside current resource

model, highlighting strong growth potential

Key Points:

• A high-grade zone of mineralisation has been identified at depth outside of the current Mineral Resource at El Dorado, with key assay results including:
• • 11m @ 11.38g/t Au from 196m including 5m @ 23.34g/t Au from 200m in KNC190105;
  • 9m @ 4.71g/t Au from 173m including 5m @ 7.63g/t Au from 175m in KNCD190090;
  • 10m @ 5.77g/t Au from 164m including 6m @ 8.03g/t Au from 166m in KNC190100*;
  • 28m @ 13.59g/t Au from 176m including 6m @ 57.7g/t Au from 176m in KNC190079*.

*Previously reported holes on 3 December 2019 (KNC190100) and 8th October 2019 (KNC190079)

• • Assays pending from recently completed diamond drill holes, with follow-up Reverse Circulation drilling underway to test the mineralisation to the south.
• Exploration drilling for 2020 has commenced across the 3.02Moz Bardoc Gold Project.

Bardoc Gold Limited (ASX: BDC, Bardoc or the Company) is pleased to report further outstanding drilling results from the El Dorado Deposit within its 100%-owned3.02Moz Bardoc Gold Project, located 50km north of Kalgoorlie in Western Australia.

Assay results from Reverse Circulation (RC) drilling completed before Christmas have confirmed the continuity of a broad zone of high-grade mineralisation directly below the current Mineral Resource, correlating with recently reported results and indicating an increasing grade profile at depth.

The ongoing success at El Dorado highlights the opportunity to increase gold resources at previously under- explored satellite deposits within the Bardoc Project.

The Company's multi-targeted exploration and drilling program resumed this week, targeting further resource growth and discovery opportunities across the project area to support a project-wide resource update later this year.

In the meantime, work is well advanced on a Pre-Feasibility Study (PFS) based on the current 3.02Moz Mineral Resource and is on track to be finalised and reported to the market in Q1 2020.

Bardoc Gold Limited | ABN 40 125 578 743

130 Stirling Highway, North Fremantle WA 6159 | Locked Bag 4, North Fremantle WA 6159 | Australia Tel [phone] | Fax [phone]

www.bardocgold.com

EL DORADO

Results from recent Reverse Circulation (RC) and diamond drilling (DD) at the El Dorado Deposit have defined a high-grade core of the mineralisation approximately 170m below surface which is interpreted as an extension to higher grade zones observed in the recently updated Mineral Resource.

New and recently reported results from this high-grade area include:

• 11m @ 11.38g/t Au from 196m including 5m @ 23.34g/t Au from 200m in KNC190105;
• 9m @ 4.71g/t Au from 173m including 5m @ 7.63g/t Au from 175m in KNCD190090;
• 19m @ 5.77g/t Au from 164m including 6m @ 8.03g/t Au from 166m in KNC190100 (reported in the ASX announcement of 3/12/2109); and
• 28m @ 13.59g/t Au from 176m including 6m @ 57.7g/t Au from 176m in KNC190079 (reported in the ASX announcement of ASX 8/10/2019).

The new results suggest that the grade profile is improving at depth, providing a series of high-quality targets for additional follow-up drilling.

A number of assay results from diamond drilling completed in late 2019 are still pending. These are expected shortly and will be reported in due course. RC drilling resumed at the start of this week targeting extensions of the mineralisation to the south. Once this round of RC drilling is completed in the next few days, the RC rig will move to Mayday North.

Figure 1. Bardoc South Regional Location Plan.

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Figure 2. El Dorado drill-hole location plan.

Figure 3. El Dorado Cross-Section looking north-west.

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MAYDAY NORTH

Diamond core drilling at the 79koz Mayday North Deposit is scheduled to re-commence this week and will operate in parallel with the RC rig once it has relocated from El Dorado. The combined drilling effort will expedite exploration results from this newly acquired resource.

MANAGEMENT COMMENTS

Bardoc Gold's Chief Executive Officer, Mr Robert Ryan, said the impressive results being generated by deeper drilling at El Dorado are another reminder of the substantial exploration upside across the 3.02Moz Bardoc Project, and reflected the success of the Company's targeted exploration approach.

"The latest results from El Dorado show there is a high-grade core to the mineralisation outside the current resource model. We have also seen grades improving with depth, which has given us the confidence to remobilise the RC drill rig to target further extensions while we await assays from the remainder of the 2019 drill program.

"As gold reaches new record highs in Australian dollar terms of over $2,300/ounce, Bardoc's strategy of building a sizeable, high-quality resource in Australia's premier gold mining district has positioned the company well to become a sustainable gold producer.

"PFS studies are progressing well with results expected later this quarter and, while our cornerstone deposits at Aphrodite, Zoroastrian and Excelsior are the focus of this study, our recent exploration successes show there is still significant upside to our plan."

NEXT STEPS

• Exploration drilling with both an RC and diamond rig will continue both to extend and increase the confidence in the Company's Mineral Resources.
• Assay results from the under-explored North Kanowna Star prospect are expected shortly.
• WA Sate Govt EIS co-funded drilling at the Black Flag Fault is being logged and interpreted.

BARDOC GOLD PROJECT - BACKGROUND

The Bardoc Gold Project was formed in October 2018 following completion of the merger between Excelsior Gold and Spitfire Materials, bringing together significant resources and excellent potential for growth. The Project runs contiguously north for 40km in the Eastern Goldfields. There are four main deposits and a multitude of smaller projects within the 250km2 landholding, providing a large Resource base and excellent exploration potential within the prolific Norseman-Wiluna greenstone belt and junction of the Bardoc Tectonic Zone (BTZ) and the Black Flag Fault (BFF).

These two deep-seated crustal structures host many multi-million-ounce deposits, including the world- renowned Golden Mile in Kalgoorlie.

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GLOBAL RESOURCE - BARDOC GOLD PROJECT

BARDOC GOLD PROJECT															Original
MEASURED	INDICATED		INFERRED		TOTAL RESOURCES	ASX
RESOURCES
															Report
Deposit	Type	Cut-Off	Tonnes	Grade	Ounces	Tonnes	Grade		Ounces	Tonnes	Grade		Ounces	Tonnes	Grade	Ounces	Date
(g/t Au)	(,000t)	(g/t Au)	(,000oz)	(,000t)	(g/t Au)		(,000oz)	(,000t)	(g/t Au)		(,000oz)	(,000t)	(g/t Au)	(,000oz)
Aphrodite	OP	0.4	-	-	-	11,622	1.7		619	6,676	1.4		298	18,288	1.6	916	22/5/18
Aphrodite	UG	2.0	-	-	-	3,458	3.9		436	2,391	4.3		330	5,848	4.1	765
Aphrodite	TOTAL		-	-	-	15,080	2.2		1,055	9,067	2.2		628	24,136	2.2	1,681
Zoroastrian	OP	0.4	-	-	-	3,862	1.8		229	1,835	1.5		89	5,698	1.7	318	22/5/18
Zoroastrian	UG	2.0	-	-	-	580	4.4		82	823	4.3		114	1,403	4.4	197
Zoroastrian	TOTAL		-	-	-	4,442	2.2		311	2,658	2.4		203	7,101	2.3	515
Excelsior	OP	0.4	-	-	-	6,729	1.2		266	1,749	1.0		54	8,478	1.2	320
Mulwarrie	OP	0.5	-	-	-	-	-		-	881	2.8		79	881	2.8	79	13/11/18
Bulletin South	OP	0.4	152	2.2	11	546	2.1		36	150	2.1		10	849	2.1	57
Lochinvar	OP	0.4	-	-	-	423	1.8		24	57	1.6		3	480	1.7	27	19/2/14
Nerrin Nerrin	OP	0.5	-	-	-	-	-		-	651	1.3		26	651	1.3	26
Ophir	OP	0.6	-	-	-	-	-		-	75	1.9		5	75	1.9	5	11/12/13
Vettersburg South	OP	0.6	-	-	-	-	-		-	552	1.5		26	552	1.5	26	11/12/13
El Dorado	OP	0.5	-	-	-	-	-		-	471	1.5		23	471	1.5	23
Talbot North	OP	0.4	-	-	-	698	1.8		40	123	1.8		7	820	1.8	47
Windanya	OP	0.6	-	-	-	-	-		-	360	1.5		17	360	1.5	17	11/12/13
South Castlereagh	OP	0.5	-	-	-	111	1.6		6	369	1.3		15	481	1.4	21
Grafters	OP	0.5	-	-	-	-	-		-	319	1.3		14	319	1.3	14
Duke North	OP	0.4	-	-	-	851	1.0		28	795	1.0		25	1,646	1.0	53
North Kwanana Star	OP	0.5	-	-	-	-	-		-	716	1.4		32	716	1.4	32
Mayday North	OP	0.5	-	-	-	-	-		-	1,410	1.7		79	1,410	1.7	79
GLOBAL RESOURCE		152	2.3	11	28,880	1.9		1,766	20,403	1.9		1,247	49,426	1.9	3,022

Note: Differences may occur due to rounding. Full details of the Mineral Resource estimate were provided in the Company's ASX Announcement dated 30 September 2019.

Figure 4. Project Location Plan

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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 Bardoc 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 Bardoc is no guarantee of future performance.

None of Bardoc's 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.

Authorised for release by:

Robert Ryan

Chief Executive Officer

For further information contact:
INVESTORS:		MEDIA:
Robert Ryan	Bardoc Gold Limited	Nicholas Read	Read Corporate
Telephone:	[phone]	Telephone:	0419 929 046
Email:	[e-mail]	Email:	[e-mail]

Competent Person's Statement - Exploration Results

The Company confirms it is not aware of any new information or data that materially affects the information included in the 30 September 2019 Bardoc 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 30 September 2019.

Information in this announcement that relates to exploration results is based on information compiled by Mr. Bradley Toms who is the Exploration Manager of Bardoc Gold Limited. Mr. Toms is a Member of The Australian Institute of Geoscientists and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity that he is undertaking, to qualify as Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr. Toms consents to the inclusion in the document of the information in the form and context in which it appears.

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Appendix 1

Table 1 - Drill Hole Location Table

	Collar North	Collar East			Collar Azi	Maximum
Hole ID	(MGA94-z51) m	(MGA94-z51) m	Collar RL m	Collar Dip0	Magnetic0	Depth (m)
El Dorado
KNC190099	336413	6634248	419	-60	235	300
KNC190105	336406	6634197	420	-60	235	240
KNC190109	336602	6633769	420	-60	235	140
KNC190110	336511	6633971	423	-60	235	180
KNCD190089	336340	6634296	419	-60	235	290.4
KNCD190090	336366	6634217	419	-60	235	220.9

Appendix 2

Table 2 - Significant Intersections >= 1m@ 0.5g/t Au, Intersections >=10grammetres are in bold. Maximum 2m internal downhole dilution. No upper cuts applied. NSA is "No Significant Assay", *=4m composite sample

Hole id	From (m)	To (m)	Width (m)	Grade g/t Au
KNC190099	NSA
KNC190105	172	173	1	0.50
	183	184	1	1.55
	190	191	1	5.84
	196	207	11	11.38
including	200	205	5	23.34
KNC190109	NSA
KNC190110	NSA
KNCD190089	215.32	221.96	6.64	2.87
including	215.32	216.32	1	16.30
	228.13	229.28	1.15	1.40
	231.91	235.53	3.62	0.91
KNCD190090	166	172	6	0.56
	173	183	9	4.71
including	175	181	5	7.63

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JORC, 2012 Edition - Tables - El Dorado

1.1 Section 1 Sampling techniques and data

Criteria	JORC Code explanation		Commentary
Sampling	• Nature and quality of sampling (e.g. cut	•	The mineralization was primarily sampled by Reverse Circulation (RC) and
techniques	channels, random chips, or specific specialised		Diamond Core (DC) drilling on nominal 40m x 20m (N x E) grid spacing. The
	industry	standard	measurement	tools		holes were generally drilled towards:
	appropriate to the minerals under		- El Dorado magnetic 235 degrees;
	investigation, such as down hole gamma		at varying angles to optimally intersect the mineralized zones.
	sondes, or handheld XRF instruments, etc).	•	Complete details are un-available for historic drilling.
	These examples should not be taken as	•	Generally, BDC RC recovered chip samples were collected and passed
	limiting the broad meaning of sampling.			through a cone splitter.
	• Include reference to measures taken to ensure	•	Limited numbers of field duplicates and screen fire assays have been
	sample representivity and the appropriate		undertaken to support sample representivity.
	calibration of any measurement tools or	•	All BDC RC drilling was sampled on one metre down hole intervals. The
	systems used.					recovered samples were passed through a cone splitter and a nominal 2.5kg
	• Aspects	of	the	determination	of		- 3.5kg sample was taken to a Kalgoorlie contract laboratory. Samples were
	mineralisation that are Material to the Public		oven dried, reduced by riffle splitting to 3kg as required and pulverized in a
	Report. In cases where 'industry standard'		single stage process to 85% passing 75 µm. The sample is then prepared by
	work has been done this would be relatively		standard fire assay techniques with a 40g charge. Approximately 200g of
	simple (e.g. 'reverse circulation drilling was		pulp material is returned to BDC for storage and potential assay at a later
	used to obtain 1 m samples from which 3 kg		date. The BDC DC samples are collected at nominated intervals by BDC staff
	was pulverised to produce a 30 g charge for		from core that has been cut in half. Samples were oven dried, crushed to a
	fire assay'). In other cases more explanation		nominal 10mm by a jaw crusher, reduced by riffle splitting to 3kg as required
	may be required, such as where there is coarse		and pulverized in a single stage process to 85% passing 75 µm. The sample
	gold that has inherent sampling problems.		is then prepared by standard fire assay techniques with a 40g charge.
	Unusual commodities or mineralisation types		Approximately 200g of pulp material is returned to BDC for storage and
	(e.g. submarine nodules) may warrant		potential assay at a later date.
	disclosure of detailed information.
Drilling techniques	• Drill type (e.g. core, reverse circulation, open-	•	RAB drilling makes up about 50% of the historic drilling and RC the other
	hole hammer, rotary air blast, auger, Bangka,		50%. There are several campaigns of historic drilling between 1983 and
	sonic, etc) and details (e.g. core diameter,		2009. These holes are sometimes without documentation of the rig type
	triple or standard tube, depth of diamond		and capability, core size, sample selection and handling.
	tails, face-sampling bit or other type, whether	•	For (post 2009) BDC drilling, the RC drilling system employed the use of a
	core is oriented and if so, by what method,		face sampling hammer and a nominal 146mm diameter drill bit. The DC
	etc).						drilling is NQ2 size core (nominal 50.6mm core diameter) or HQ (nominal
							63.5mm core diameter).
						•	All BDC drill core is orientated by the drilling contractor, usually every 3m
							run.
Drill sample	• Method of recording and assessing core and	•	All BDC RC 1m samples are logged for drilling recovery by a visual estimate
recovery	chip sample recoveries and results assessed		and this information is recorded and stored in the drilling database. At least
							every 10th metre is collected in a plastic bag and these are weighed when
	• Measures taken to maximise sample recovery		they are utilized for the collection of field duplicate samples. All samples
	and ensure representative nature of the		received by the laboratory are weighed with the data collected and stored
	samples					•	in the database.
						The BDC DC samples are orientated, length measured and compared to
	• Whether a relationship exists between sample		core blocks placed in the tray by the drillers, any core loss or other variance
	recovery and grade and whether sample bias		from that expected from the core blocks is logged and recorded in the
	may have occurred due to preferential		database. Sample loss or gain is reviewed on an ongoing basis and feedback
	loss/gain of fine/coarse material.			given to the drillers to enable the best representative sample to always be
							obtained.
						•	BDC RC samples are visually logged for moisture content, sample recovery
							and contamination. This is information is stored in the database. The RC
							drill system utilizes a face sampling hammer which is industry best practice
							and the contractor aims to maximize recovery at all times. RC holes are
							drilled dry whenever practicable to maximize recovery of sample.
						•	The DC drillers use a core barrel and wire line unit to recover the core, they
							aim to recover all core at all times and adjust their drilling methods and
							rates to minimise core loss, i.e. different techniques for broken ground to
							ensure as little core as possible is washed away with drill cuttings.
						•	Study of sample recovery vs gold grade does not show any bias towards
							differing sample recoveries or gold grade. The drilling contractor uses
							standard industry drilling techniques to ensure minimal loss of any size
							fraction.
Logging	• Whether core and chip samples have been	•	All BDC RC samples are geologically logged directly into hand-held Geobank
	geologically and geotechnically logged to a		devices.
	level of detail to support appropriate Mineral	•	All BDC DC is logged for core loss, marked into metre intervals, orientated,
	Resource estimation, mining studies and		structurally logged, geotechnically logged and logged with a hand lens with
	metallurgical studies.				the following parameters recorded where observed: weathering, regolith,

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		Whether logging is qualitative or quantitative	rock type, alteration, mineralization, shearing/foliation and any other
		in nature. Core (or costean, channel, etc)	features that are present
	•	photography.	• All BDC DC is photographed both wet and dry after logging but before
	The total length and percentage of the	cutting.
		relevant intersections logged.	• The entire lengths of BDC RC holes are logged on a 1m interval basis, i.e.
			100% of the drilling is logged, and where no sample is returned due to voids
			(or potentially lost sample) it is logged and recorded as such. Drill core is
			logged over its entire length and any core loss or voids intersected are
			recorded.
Sub-sampling	•	If core, whether cut or sawn and whether	• All BDC RC samples are put through a cone splitter and the sample is BDC
techniques and		quarter, half or all core taken.	Exploration results reported for drill core are half core taken from the right
sample	•	If non-core, whether riffled, tube sampled,	hand side of the core looking down hole. Core is cut by a Kalgoorlie based
preparation		rotary split, etc and whether sampled wet or	laboratory and returned to site for sampling.
		dry.	• All BDC RC samples are put through a cone splitter and the sample is

• For all sample types, the nature, quality and collected in a unique pre-numbered calico sample bag. The moisture

appropriateness of the sample preparation	content of each sample is recorded in the database.
technique.	• The BDC RC samples are sorted, oven dried, the entire sample is pulverized

• Quality control procedures adopted for all in a one stage process to 85% passing 75 µm. The bulk pulverized sample is

sub-sampling	stages	to	maximise	then bagged and approximately 200g extracted by spatula to a numbered
representivity of samples.			paper bag that is used for the 50g fire assay charge.
• Measures taken to ensure that the sampling is	• The BDC DC samples are oven dried, jaw crushed to nominal <10mm, 3.5kg
representative of the in situ material	is obtained by riffle splitting and the remainder of the coarse reject is
collected, including for instance results for	bagged while the 3.5kg is pulverized in a one stage process to 85% passing
field duplicate/second-half sampling.	75 µm. The bulk pulverized sample is then bagged and approximately 200g

• Whether sample sizes are appropriate to the extracted by spatula to a numbered paper bag that is used for a 40g or 50g

		grain size of the material being sampled.	fire assay charge.
			• BDC RC and DC samples submitted to the laboratory are sorted and
			reconciled against the submission documents. BDC inserts blanks and
			standards with blanks submitted in sample number sequence at 1 in 50 and
			standards submitted in sample number sequence at 1 in 20. The laboratory
			uses their own internal standards of 2 duplicates, 2 replicates, 2 standards,
			and 1 blank per 50 fire assays. The laboratory also uses barren flushes on
			the pulveriser.
			• In the field every 10th metre from cone splitter is bagged and placed in order
			on the ground with other samples. This sample is then used for collection of
			field duplicates via riffle splitting. RC field duplicate samples are collected
			after results are received from the original sample assay. Generally, field
			duplicates are only collected where the original assay result is equal to or
			greater than 0.1g/t Au. The field duplicates are submitted to the laboratory
			for the standard assay process. The laboratory is blind to the original sample
			number.
			• For DC, historically no core duplicates (i.e. half core) have been collected or
			submitted. For the current program the lab was requested to take a sample
			from the crush reject as a proxy for the field duplicate.
			• The sample sizes are considered to be appropriate for the type, style,
			thickness and consistency of mineralization located at this project. The
			sample size is also appropriate for the sampling methodology employed and
			the gold grade ranges returned.
	Quality of assay	• The nature, quality and appropriateness of	• BDC has routinely used local Kalgoorlie Certified Laboratories for all sample
	data and	the assaying and laboratory procedures used	preparation and analysis. The most commonly used laboratories have
	laboratory tests	and whether the technique is considered	been Intertek Genalysis and Bureau Veritas Australia. No complete details
		partial or total.	of the sample preparation, analysis or security are available for either the
		• For geophysical tools, spectrometers,	historic AC, DD or RC drilling results in the database.
		handheld XRF instruments, etc, the	• The assay method is designed to measure total gold in the sample. The
		parameters used in determining the analysis	laboratory procedures are appropriate for the testing of gold at this project
		including instrument make and model,	given its mineralization style. The technique involves using a 40g or 50g
		reading times, calibrations factors applied	sample charge with a lead flux which is decomposed in a furnace with the
		and their derivation, etc.	prill being totally digested by 2 acids (HCl and HNO3) before measurement
		• Nature of quality control procedures adopted	of the gold content by an AA machine.
		(e.g. standards, blanks, duplicates, external	• The QC procedures are industry best practice. The laboratories are
		laboratory checks) and whether acceptable	accredited and use their own certified reference materials.
		levels of accuracy (i.e. lack of bias) and	• BDC submits blanks at the rate of 1 in 50 samples and certified reference
		precision have been established.	material standards at the rate of 1 in 20 samples in the normal run of sample
			submission numbers. As part of normal procedures BDC examines all
			standards and blanks to ensure that they are within tolerances. Additionally,
			sample size, grind size and field duplicates are examined to ensure no bias
			to gold grade exists.
	Verification of	• The verification of significant intersections by	• BDC's Exploration Manager and Senior Resource Geologist have inspected
	sampling and	either independent or alternative company	RC chips and drill core in the field to verify the correlation of mineralized
	assaying	personnel.	zones between assay results and lithology/alteration/mineralization.
		• The use of twinned holes.
			Page 9 of 12

	• Documentation of primary data, data entry	• A number of RC holes have also been drilled that confirmed results obtained
		procedures, data verification, data storage		from historical drillholes. No holes have been directly twinned, there are
		(physical and electronic) protocols.		however holes within 15m of each other.
	• Discuss any adjustment to assay data.	• Primary data is sent digitally every 2-3 days from the field to BDC's Database
				Administrator (DBA). The DBA imports the data into the commercially
				available and industry accepted DataShed database software. Assay results
				are merged when received electronically from the laboratory. The
				responsible geologist reviews the data in the database to ensure that it is
				correct and has merged properly and that all data has been received and
				entered. Any variations that are required are recorded permanently in the
				database.
			• No adjustments or calibrations were made to any assay data used in this
				report.
Location of data	•	Accuracy and quality of surveys used to locate	• All drill holes have their collar location recorded from a differential RTK GPS
points		drill holes (collar and down-hole surveys),		unit by consultant surveyors. Downhole surveys are completed every 30m
		trenches, mine workings and other locations		downhole. Incomplete down hole surveying information is available for the
		used in Mineral Resource estimation		historic RC or DD drilling.
	• Specification of the grid system used	• BDC routinely contracted down hole surveys during the programmes of
	• Quality and adequacy of topographic control.		exploration drilling for each drill hole completed using either digital
				electronic multi-shot tool or north seeking gyro, both of which are
				maintained by Contractors to manufacturer specifications. The current drill
				program was downhole surveyed by the drill contractor using north seeking
				gyro.
			• All drill holes and resource estimation use the MGA94, Zone 51 grid system.
			• The topographic data used was obtained from a LIDAR survey flown in 2012
				and it is adequate for the reporting of Exploration Results and subsequent
				Mineral Resource estimates.
Data spacing and	•	Data spacing for reporting of Exploration	• The nominal exploration drill spacing is 40m x 20m with many E-W cross-
distribution		Results.		sections in-filled to 20m across strike.
	• Whether the data spacing and distribution is	• This report is for the reporting of recent exploration drilling. The drill
		sufficient to establish the degree of geological		spacing, spatial distribution and quality of assay results is appropriate for
		and grade continuity appropriate for the		the nature and style of mineralisation being reported.
		Mineral Resource and Ore Reserve estimation	• The majority of RC holes were sampled at 1m, but when this isn't the case,
		procedure(s) and classifications applied.		sample compositing to 4m has been applied.
		Whether sample compositing has been
		applied.
Orientation of	•	Whether the orientation of sampling achieves	• The majority of previous drilling is to:
data in relation to		unbiased sampling of possible structures and		- El Dorado magnetic 235 degrees;
geological		the extent to which this is known, considering		the bulk of the mineralized zones are perpendicular to this drilling direction.
structure		the deposit type.		The current drilling is oriented towards similar angles in order to intersect
	•	If the relationship between the drilling	•	the lodes in the optimal direction.
		orientation and the orientation of key	No relationship between drilling orientation and sampling bias is
		mineralised structures is considered to have		recognised at this time. .
		introduced a sampling bias, this should be
		assessed and reported if material.
Sample security	•	The measures taken to ensure sample	• RC samples are delivered directly from the field to the Kalgoorlie laboratory
		security.		by BDC personnel on a daily basis with no detours, the laboratory then
				checks the physically received samples against an BDC generated sample
				submission list and reports back any discrepancies
			• Drill core is transported daily directly from the drill site to BDC's secure core
				processing facility by BDC personnel. The core is then placed on racks within
				a secure shed and processed until it requires cutting. Core is then
				transported directly by BDC's staff to the Kalgoorlie laboratory where it is
				cut in half by laboratory staff and then sampled by BDC staff. The core is
				then prepared for assay in Kalgoorlie to the pulverizing stage whereupon
Audits or reviews		The results of any audits or reviews of	• An internal review of sampling techniques and procedures was completed
		sampling techniques and data.		in March 2018. No external or third-party audits or reviews have been
				completed.

1.2 Section 2 Reporting of Exploration Results - El Dorado

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

Criteria

JORC Code explanation

Commentary

Mineral

• Type, reference name/number, location and

• The results reported in this Announcement are on granted Mining

tenement and

ownership including agreements or material

tenements held by GPM Resources Pty Ltd.

land tenure

issues with third parties such as joint ventures,

Tenement

Holder

Area (Ha)

Expiry Date

status

partnerships, overriding royalties, native title

El Dorado

GPM Resources Pty Ltd

796.9

29/12/2029

interests, historical sites, wilderness or national

M24/134

park and environmental settings.

• At this time the tenement is in good standing.

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• The security of the tenure held at the time of

reporting along with any known impediments

to obtaining a licence to operate in the area.

Exploration done

• Acknowledgment and appraisal of exploration

•

Exploration by other parties has been reviewed and is used as a guide to

by other parties

by other parties.

BDC's exploration activities. This includes work by Goldfields, and other

exploration companies. Previous parties have completed both open pit and

underground mining, geophysical data collection and interpretation, soil

sampling and drilling.

•

This report comments only on exploration results collected by Bardoc Gold.

Geology

• Deposit type, geological setting and style of

•

El Dorado gold mineralisation is hosted predominantly in a contact zone

mineralisation.

between ultramafics and sediments of the Black Flag Sequence. Brittle-

ductile shear zones containing quartz veining and associated gold

mineralisation with intense alteration occur on the contact zone as seen

on the cross section.

Drill hole

• A summary of all information material to the

•

See Table in this announcement

Information

understanding of the exploration results

•

No results from previous un-reported exploration are the subject of this

including a tabulation of the following

announcement.

information for all Material drill holes:

•

Easting and Northing define the collar location in MGA94 zone 51 map

o easting and northing of the drill hole collar

projection. The map projection is a transverse Mercator projection, which

o elevation or RL (Reduced Level - elevation

conforms with the internationally accepted Universal Transverse Mercator

above sea level in metres) of the drill hole

Grid system. Collar elevations are RL's (elevation above sea level)

collar

•

Dip is the inclination of the hole from the horizontal (i.e. a vertically down

o dip and azimuth of the hole

drilled hole from the surface is -90°). Azimuth for current drilling is reported

o down hole length and interception depth

in magnetic degrees as the direction toward which the hole is drilled.

o

hole length.

MGA94 and magnetic degrees vary by approximately 1° in this project area

• If the exclusion of this information is justified on

•

Down hole length of the hole is the distance from the surface to the end of

the basis that the information is not Material

the hole, as measured along the drill trace. Intercept depth is the distance

and this exclusion does not detract from the

down the hole as measured along the drill trace. Intersection width is the

understanding of the report, the Competent

downhole distance of an intersection as measured along the drill trace.

Person should clearly explain why this is the

•

Hole length is the distance from the surface to the end of the hole, as

case.

measured along the drill trace.

Data aggregation

•

In

reporting

Exploration

Results, weighting

•

No high grade cuts have been applied to assay results. RC and DC assay

methods

averaging

techniques,

maximum

and/or

results are distance weighted using their applicable down hole width for

minimum grade truncations (e.g. cutting of

each assay.

high grades) and cut-off grades are usually

•

Intersections are reported if the interval is at least 1m wide at 0.5g/t Au

Material and should be stated.

grade. Intersections greater than 1m in downhole distance can contain up

• Where aggregate intercepts incorporate short

to 2m of low grade or barren material.

lengths of high grade results and longer lengths

•

No metal equivalent reporting is used or applied.

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

•

The intersection width is measured down the hole trace, it is not usually the

between

in the reporting of Exploration Results.

true width. Cross sections in this announcement allows the relationship

mineralisation

between true and down hole width to be viewed.

widths and

• If

the

geometry of the mineralisation with

•

Data collected from historical workings and shafts within the area and from

intercept lengths

respect to the drill hole angle is known, its

structural measurements from orientated diamond core drilling show the

nature should be reported.

primary ore zones to be sub-vertical (east dipping) in nature with a general

• If

it is

not known and only the down hole

•

northwesterly (magnetic) strike.

lengths are reported, there should be a clear

All drill results within this announcement are downhole intervals only and

statement to this effect (e.g. 'down hole length,

true widths are not reported. True widths are approximately 40% of the

true width not known').

reported drill intercept widths.

Diagrams

• Appropriate maps and sections (with scales)

•

Plan and cross sectional views are contained within this announcement.

and tabulations of intercepts should be

included for any significant discovery being

reported These should include, but not be

limited to a plan view of drill hole collar

locations and appropriate sectional views.

Balanced

•

Where

comprehensive

reporting

of

all

•

All results >= 0.5g/t Au are reported. The results are length weighted

reporting

Exploration Results is not practicable,

composites based on the Au grade and down hole length, a maximum of 2m

representative reporting of both low and high

of internal dilution is included.

grades and/or widths should be practiced to

avoid misleading reporting of Exploration

Results.

Other substantive

•

Other

exploration

data,

if

meaningful

and

•

No other exploration data is considered meaningful and material to this

exploration data

material, should be reported including (but not

announcement.

limited

to):

geological

observations;

geophysical survey results; geochemical survey

Page 11 of 12

		results; bulk samples - size and method of
		treatment; metallurgical test results; bulk
		density, groundwater, geotechnical and rock
		characteristics; potential deleterious or
		contaminating substances.
Further work	•	The nature and scale of planned further work	• Exploration work is ongoing at this time and may involve the drilling of more
		(e.g. tests for lateral extensions or depth	drill holes, both DC and RC, to further extend the mineralised zones and to
		extensions or large-scalestep-out drilling).	collect additional detailed data on known and as yet unidentified
	•	Diagrams clearly highlighting the areas of	mineralized zones.
		possible extensions, including the main
		geological interpretations and future drilling
		areas, provided this information is not
		commercially sensitive.

Page 12 of 12