DMC Mining : Exploration Program to Test Priority Targets at Fraser Range

only	21 March 2022			ASX Announcement
				Exploration Update Trinity Project,
				Fraser Range
use		Exploration Programs to Test Priority Targets
Key Highlights
			•	Priority nickel-copper-cobalt targets identified from detailed
				examination of past soil geochemistry, airborne and ground
				electromagnetic surveys.
personalpleased to update the market on exploration planning for the Fraser Range Project (FRP or the Project).
			•	6 nickel-copper-cobalt target areas identified for follow-up detailed
				soil geochemical surveys and detailed fixed loop and moving loop
				ground electromagnetic surveys
			• Exploration will ground-truth the target areas and rank targets for
				follow up drill testing.
			• Company is working to engage geophysical and geochemical survey
				contractors to commence exploration on the ground on the Trinity
				Project.
			Western Australian nickel sulphide explorer, DMC Mining Limited (ASX: DMM) (DMC or the Company) is
For	The results of detailed examination of regional soil geochemical, airborne and ground electromagnetic

surveys conducted by previous explorers has delineated a number of high priority target areas consistent with potential for buried nickel-copper-cobalt mineralisation. These priority target areas will now be ground-truthed with detailed soil geochemistry and ground geophysical surveys. Results from the geochemical and ground geochemical surveys will then be followed up by diamond drilling to test the anomalies for potential nickel sulphide mineralisation.

DMC Mining Limited
Phone: [phone]	Email: [e-mail]
Address: 27/44 St Georges Tce, Perth WA 6000.	Web: www.dmcmining.com.au

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personalFor onlyuse

Figure 1 - Fraser Range Project - Regional Map.

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Technical Summary

DMC has compiled an extensive digital database of previous exploration data covering the FRP.

The company has obtained all previous company geochemical data on the FRP held in the Western Australian Mineral Exploration (WAMEX) database of the Western Australian Department of Mines, Industry Regulation and Safety (DMIRS). Soil geochemical coverage is generally on a regional 800m x 400m survey grid across the tenements with limited more detailed 400m x 400m grid infill in some areas. Examination of the data has identified some surveys where the regional grid was sub-optimal in sampling media chosen and may not be suitable for nickel sulphide exploration.

E28/2883

C1	E28/2831
C5	C4
C2	E28/2816

MGA94 Zone 51

C3

D10

Figure 2 - Priority Targets Identified on the Trinity Project. Trinity Project tenements outline (black) and target areas (C1-5,D10) over aeromagnetic colour scale image.

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Other areas have good data coverage of the right sample media chosen, but suffer from issues with data quality and data analysis artifacts that impact the data utility. The remainder of the surveys compiled appear to be good quality data and indicate soil geochemistry is effective at testing residual soils derived from the local bedrock geology.

The company has also obtained several key geophysical datasets covering the FRP. Geophysical data obtained includes detailed heliborne electromagnetic (AEM) VTEM and aeromagnetic surveys and moving loop ground electromagnetic (MLEM) surveys. Palaeochannel cover in some ares has impacted AEM survey effectiveness. However, the dataset largely is good quality and has resolved numerous conductivty anomalies that appear to be bedrock sourced.

Detailed examination of the database focussing on the areas of most extensive pre-existing data coverage on tenements E28/2831, E28/2816, E28/2883 & E28/2815 (the "Trinity" project area) has delineated a number of features within the data consistent with potential for buried nickel-copper- cobalt mineralisation. Of these, 6 priority target areas, (C1-5, D10 - Figure 2) have been identified for immediate follow-up exploration.

The target areas have been prioritised based on whether they have consistent multiple soil geochemical trace element and trace element ratio (Ni, Ni/Cr and/or Kambalda Ratio (Ni/Cr x Cu/Zn)) and geophysical (magnetic and electromagnetic) characteristics consistent with the potential signature of buried magmatic nickel sulphide systems. Of these, three Priority 1 areas (C2, C3 and D10) have all the key geochemical trace element and trace element ratio signatures coupled with strong to moderate AEM conductivity anomalies.

Highest priority target area C2 has a well defined AEM conductivity anomaly trend over 1.2km of strike coincident with soil geochemical data exhibiting all the key trace element and trace element ratio criteria consistent with potential buried nickel sulphide. It also has an untested subtle mid- to late-time MLEM conductivity anomaly from a previous reconnaissance traverse across the southern portion of the AEM conductivity anomaly trend.

The remainder target areas (C4, C5) are lesser priority due to exhibiting less soil geochemical key criteria than that demonstrated by the other higher priority targets. However, these targets still exhibit AEM conductivity anomalism consistent with bedrock sources and will be followed up by geochemical and geophysical surveys once the higher priority targets have been tested. Target C1 is lowest priority and follow-up will be contingent on exploration success on the other targets.

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Next Steps

Planning is underway to start field work on the ground to test the priority targets identified. A program of geochemical sampling and ground EM geophysics will be designed to test the anomalies and advance the targets to drill testing. The company is in the process of engaging contractors to carry out the work programs as detailed below as soon as feasible.

Soil geochemistry will consist of infill survey on a 200m x 200m grid. The surveys will first cover the 3 priority target areas C2, C3 and D10 (Figure 3). Other areas will also be surveyed. Priority Area 2 for soil geochemistry will provide coverage along strike of target C2 to the southwest in an area of multiple AEM conductivity anomalies but where previous soil geochemical work has been affected by artifacts from inconsistent analyses giving rise to poor data quality unsuitable for targeting. Priority Area 3 for soil geochemistry will provide coverage in an area where previous sampling was in media, mainly calcrete, poorly suited to nickel sulphide exploration. The limited sparse effective soil geochemistry in this region does indicate trace element anomalism in areas consistent with potential for buried mafic-ultramfic intrusive complexes and associated potential for nickel sulphide. In all some 3,880 sample points are planned and samples will be sent for geochemical analysis.

Ground geophysics will consist of (in order of survey priority):

1. Target C2 - MLEM across the target. 200m loops, 100m station spacing over 10 lines at 1.8km long for 18 line km of survey.
2. Target C3 - Fixed loop electromagnetics (FLEM) due to space restrictions on the tenement boundary preventing use of MLEM. 3 800m x 800m transmitter loops, 100m spaced receiver startions on 100-200m spaced lines approximately 1-1.5 km long for 24 line km in total.
3. Target D10 - FLEM due to space restrictions on the tenement boundary preventing use of MLEM. 2 750m x 500m transmitter loops, 100m spaced receiver stations on 100-200m spaced lines 1-1.5km long for 18 line km total.
4. Target C4 - MLEM across the target. 200m loops, 100m station spacing over 4 lines at 1.5km long for 6 line km of survey.
5. Target C5 - MLEM across the target. 200m loops, 100m station spacing over 2 lines at 1.5km long for 3 line km of survey.

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