Prospech : Final Silver and Gold Drill Results - Anton

FINAL SILVER AND GOLD DRILL RESULTS - ANTON

only11 January 2022

• Final results from the first modern exploration drilling at Anton received, with significant intercepts summarised below:

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	VADD003:	1.0m	@ 2.51 g/t Au and 100 g/t Ag from 25.0m
	VADD004:	1.0m	@ 1.40 g/t Au and 89 g/t Ag from 182.4m
personal		VADD005:	1.1m	@ 0.83 g/t Au and 89 g/t Ag from 77.7m
		0.6m	@ 0.59 g/t Au and 155 g/t Ag from 154.5m
		1.5m	@ 2.62 g/t Au and 376 g/t Ag from 181.3m
		0.7m	@ 4.45 g/t Au and 301 g/t Ag from 289.7m
	VADD006:	1.0m	@ 1.34 g/t Au and 113 g/t Ag from 124.0m
		0.5m	@ 1.17 g/t Au and 169 g/t Ag from 168.7m
		0.5m	@ 1.09 g/t Au and 214 g/t Ag from 184.5m
		0.5m	@ 3.49 g/t Au and 105 g/t Ag from 220.7m
 Review of results and three dimensional modelling continues.
 Planned testing of Anton targets over 3.5 km strike and further on to Schopfer
	in the south.

The Directors of Prospech Limited ('Prospech' or 'the Company') (ASX: PRS) advise that all assay results for the Anton prospect 2021 drilling program have been received. A stacked series, gold and silver mineralised quartz veins were intersected in the drilling.

ForThis is the first modern exploration drilling at Anton where past records report mining to a depth of over 500 metres below surface. Drill sites selected by the Company for this initial drill program are generally shallower targets where historical records indicate that effective mining was prevented by water ingress due to the capability of primitive pumps of the era.

The Anton target, which lies within the Company's 100%-ownedHodrusa-Hamre exploration licence, is a large system of epithermal gold and silver of veins, with a known strike length of at least 3.5 kilometres. The broader Anton structural zone trends further for more than 6.0 kilometres into the Unverzaght and Schopfer historical mines and exploration targets.

Level 2, 66 Hunter Street, Sydney NSW 2000 Australia

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Whilst assay results are sub-economic, a series of stacked gold and silver mineralised quartz veins were intersected in the drilling, warranting follow up drilling. VADD006 was the final drill hole at Anton for the 2021 campaign and returned assay results up to 3.49 g/t Au and 214 g/t Ag. The Sprochova vein target has now been intersected by 3 holes (VADD004, 5 and 6), providing reliable structural data to assist in the design of the follow up drilling program.

onlySpoil heap samples, which are thought to originate from the Anton structure near the drilling targets are strongly mineralised. The average of assays from 57 grab samples was 3.95 g/t Au and 214 g/t Ag. The peak assays from this group of samples were 52.6 g/t Au and 1,445 g/t Ag.

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Drill section through VADD006 showing significant Au and Ag results

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For personal use only

Location of the 3.5 km Anton gold-silver vein structure (mauve highlight) in

the northern portion of the Hodrusa-Hamre exploration license.

Map of the 3.5 kilometre Anton vein system, historical underground mine workings and Prospech drilling

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Prospech Managing Director Jason Beckton comments:

"Encouraging gold and silver grades from the first modern drilling of the large, historic Anton mine lends encouragement for follow up drilling targeting thicker, high grade shoots.

Importantly, the results demonstrate that previously un-mined and un-drilled gold and silver mineralised structures remain to be discovered at Anton, warranting further exploration.

onlyDrilling in our flagship Hodrusa-Hamre project area is scheduled to recommence early in the summer 2022 field season. As recently reported, the IP survey exploring the gold hosting LANF structure, has revealed a number of anomalies in favourable geological settings. Drilling of these anomalies is assigned a high priority for 2022, followed by targets at the Anton, Unverzaght, Schopfer and Kopanice prospects.

By virtue of its lower altitude and milder winter conditions, it is our intention our first drilling campaign for 2022 will be the Cejkov-Zemplin project in a Phase 2 follow up of encouraging silver intersections reported in 2021."

useThis announcement has been approved by the Managing Director, Jason Beckton. For further information, please contact:

Jason Beckton

Managing Director personalProspech Limited

[phone]

Competent Person's Statement

The information in this Report that relates to Exploration Results is based on information compiled by Mr Jason Beckton, who is a Member of the Australian Institute of Geoscientists. Mr Beckton, who is Managing Director of the Company, has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Beckton consents to the inclusion in this Report of the matters based on the information in the form and context in which it appears.

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JORC Code, 2012 Edition - Table 1 Anton, Hodrusa

Section 1 Sampling Techniques and Data

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Criteria	JORC Code explanation	Commentary
Sampling	 Nature and quality of sampling (eg cut	 Rock chip grab samples were collected from outcrops,
techniques	channels, random chips, or specific specialised	spoil heaps and accessible surface and underground
	industry standard measurement tools	workings of quartz veins, and zones of silicification,
	appropriate to the minerals under investigation,	within Neogene volcanics under the supervision of a
	such as down hole gamma sondes, or	qualified geologist.
	handheld XRF instruments, etc). These	 Sample locations were surveyed with a handheld GPS
	examples should not be taken as limiting the	and marked into sample books.
	broad meaning of sampling.
	 Include reference to measures taken to ensure
	sample representivity and the appropriate
	calibration of any measurement tools or
	systems used.
	 Aspects of the determination of mineralisation
	that are Material to the Public Report.
	 In cases where 'industry standard' work has
	been done this would be relatively simple (eg
	'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, such
	as where there is coarse gold that has inherent
	sampling problems. Unusual commodities or
	mineralisation types (eg submarine nodules)
	may warrant disclosure of detailed information.
Drilling	 Drill type (eg core, reverse circulation, open-	 Diamond HQ and NQ drilling.
techniques	hole hammer, rotary air blast, auger, Bangka,
	sonic, etc) and details (eg 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	 Anton prospect has not been drilled previously.
recovery	chip sample recoveries 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	 Rock chips were described in hand specimen and
	geologically and geotechnically logged to a	photographs taken for reference.
	level of detail to support appropriate Mineral
	Resource estimation, mining studies and
	metallurgical 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.

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Sub-sampling techniques and sample preparation

• If core, whether cut or sawn and whether quarter, half or all core taken.
• If non-core, whether riffled, tube sampled, rotary split, etc and 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.

• Approximately 1 to 2 Kg of material from each rock chip was sent to the laboratory for analysis.
• All sampling done under supervision of a qualified geologist.

Quality of assay		The nature, quality and appropriateness of the		Samples are stored in a secure location in Companies
data and		assaying and laboratory procedures used and		storage facilities and transported to the ALS laboratory
laboratory tests		whether the technique is considered partial or		in Romania for sample preparation of fine crush, riffle
		total.		split and pulverizing of 1kg to 85% < 75μm.
		For geophysical tools, spectrometers, handheld		Pulps are analysed by ALS Romania using method

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