Carbine Resources Limited to Present the Results of Mineral Resource Estimate
interpolation methodology. The Muchea West Silica Sand Mineral Resource has been classified in the Indicated and Inferred categories, in accordance with the 2012 Australasian Code for Reporting of Mineral Resources and Ore Reserves and has been reported at a 99.00 % SiO2 cutoff. Logging data from an additional 28 water bores was also used as an aid to interpretation. No grade data from the water bores was used. All samples were analysed by Intertek Genalysis Laboratories. Collar, assay and lithological logging data was provided as Excel spreadsheets and imported into Micromine
2021 for further processing. A Micromine format drill hole database was created and the data validated and checked, including: Checks for duplicate collars, Checks for missing samples, Checks for down hole from-to interval consistency, Checks for overlapping samples, Checks for samples beyond hole depth. The base of white to off-white silica sand was digitised along section lines and in the region around water bores where that information was available in the down hole logging. A Data Terrain Model surface was then generated honouring the known data points. Tenure. The Muchea West Project covers a land area of 102km2 and consists of a single granted exploration licence, E70/4905. The Muchea West Project is located directly adjacent to VRX Silica Ltd.'s Muchea Project. Project Geology: The Project is underlain by the Bassendean Sand Formation, which extends over large areas of the Swan Coastal Plains of the Perth Basin from about 23 km north of Jurien, to about 15km southwest of Busselton. The Bassendean Sand Formation is considered to have a maximum thickness of about 45 m, and the unit is found as a strip parallel to the coast, having a width of about 10-20 km, and its western edge about 5-10km inland. Concretionary ferruginous material, locally known as "coffee rock", is developed discontinuously in the sand near the groundwater table. In the Tenement, good quality silica sand overlies iron rich brown sand, occasionally interspersed with ferruginous nodules. The upper units of the Bassendean Sand Formation are typically clean, well-rounded and well sorted sands. At depth, it is commonly brown to dark brown with high iron contents, however closer to the surface the sand is cream/white. The physical, chemical and mineralogical characteristics of the Bassendean Sands can vary considerably, resulting in variation in the quality of the sand regionally as well as locally. In general, the Bassendean Sand Formation is covered with very little or no overburden. The region surrounding the Project has been explored for both silica sand and mineral sands. Model Interpolation: Model interpolation has been carried out using Ordinary Kriging in Micromine 2022. A check model has also been generated using Inverse Distance Squared interpolation.