10 July 2025

Atalaya Mining Copper, S.A.

("Atalaya" or "the Company")

Masa Valverde Drilling Update

Results confirm and extend high-grade copper zones

which are expected to be the initial focus for mine development

 

Atalaya Mining (LSE: ATYM) is pleased to announce results from its ongoing drilling programme at Proyecto Masa Valverde ("PMV"). At present, two rigs are active and are focused on infill and extensional drilling at the Masa Valverde deposit, where high-grade copper zones have been defined.

Highlights

·      Notable high-grade copper zone drilling results include:

‒      MJ65: 25m at 2.93% Cu (from 568m)

‒      MJ72: 18m at 2.17% Cu (from 611m)

‒      MJ73W1: 83m at 1.19% Cu (from 579m), including 12m at 2.39% Cu

‒      MJ74: 53m at 1.36% Cu (from 599m), including 15m at 2.32% Cu

‒      MJ76: 46m at 2.11% Cu (from 575m)

‒      MJ76W1: 30m at 2.14% Cu (from 598m)

‒      MJ76W3: 25m at 2.54% Cu (from 604m)

‒      MJ79: 26m at 2.78% Cu (from 603m), including 10m at 4.39% Cu

·      Results are primarily associated with stockwork-style mineralisation, which is expected to be amenable for processing at the existing Riotinto facilities

·      Drilling supports Atalaya's initial focus on the Masa Valverde copper zones, which are expected to be mined via the planned access ramp

·      Ramp development is expected to begin once the purchase of certain surface rights is completed and is subject to final Board approval

Alberto Lavandeira, CEO, commented:

"We are pleased to announce these exciting drilling results at Masa Valverde. The high-grade copper zones that have been identified have the potential to be mined selectively and deliver high-grade material to our Riotinto processing plant.

Infill drilling will continue for the remainder of 2025, furthering our understanding of the copper zones which are expected to form the basis for the initial development of this satellite project, and of the separate zinc-rich and gold-rich areas of mineralisation which could be exploited as part of a larger-scale future development. Finalisation of the required land purchases will allow Atalaya to begin ramp development.

Atalaya is in a fortunate position to develop regional deposits like Masa Valverde in a capital efficient manner thanks to its significant existing infrastructure at Proyecto Riotinto including its 15 Mtpa processing plant. We also expect to benefit from the extensive underground mining capabilities available in the region. Finally, we are thankful for the positive business environment in Andalucía, as highlighted by the permitting timeline achieved at Proyecto Masa Valverde."

Recent Drilling

Recent infill and extensional drilling at the Masa Valverde deposit is confirming and expanding the areas of high-grade copper mineralisation. The implementation of directional drilling has allowed Atalaya to efficiently drill from surface at a spaced grid of approximately 50 by 25 metres over the selected mineral-enriched zones, which are located at depths of over 500 metres. These high-grade zones are related to a late-stage tectonic event, which involves the replacement of primary massive sulphide (pyrite) and volcanic rhyodacite by copper (zinc-lead) veining-type mineralisation. This mineralisation consists of coarse-grained recrystallised chalcopyrite with minor sphalerite and galena, locally accompanied by silica and carbonate.

It is anticipated that this copper mineralisation will be amenable for treatment at Atalaya's existing Riotinto processing facility, and therefore this material is expected to be the initial focus for mining once the planned access ramp has been developed.

Table 1 shows the most significant copper intercepts, consisting of copper-rich stockwork (SW-Cu) and copper-rich massive sulphide (MS-Cu) ore types. Additional intercepts are shown in the Appendix.

Table 1: Selected Masa Valverde Intercepts

Hole ID		From	To	Interval	Cu	Zn	Pb	Ag	Au	Ore type
		m	m	m	%	%	%	g/t	g/t
MJ65		568.00	593.00	25.00	2.93	2.27	0.11	12.68	0.08	SW-Cu
MJ70W3		753.00	761.00	8.00	2.31	0.97	0.00	6.63	0.09	SW-Cu
MJ72		611.00	629.00	18.00	2.17	0.90	0.04	7.83	0.11	SW-Cu
	Incl.	620.00	623.00	3.00	7.84	2.05	0.08	20.00	0.23	SW-Cu
MJ72W1		563.00	568.00	5.00	2.24	0.08	0.09	34.20	0.66	SW-Cu
MJ72W2		535.00	638.00	103.00	0.95	0.19	0.06	6.96	0.21	SW-Cu
	Incl.	577.00	605.00	28.00	1.25	0.38	0.10	7.44	0.09	MS-Cu
	Incl.	619.00	627.00	8.00	1.49	0.30	0.05	10.00	0.12	SW-Cu
MJ73W1		579.00	662.00	83.00	1.19	0.92	0.12	10.11	0.17	SW-Cu
	Incl.	650.00	662.00	12.00	2.39	0.65	0.15	19.50	0.12	SW-Cu
		683.00	690.00	7.00	1.49	0.60	0.06	9.72	0.04	SW-Cu
MJ74		599.00	652.00	53.00	1.36	1.57	0.08	4.04	0.10	SW-Cu
	Incl.	599.00	614.00	15.00	2.32	3.50	0.17	5.93	0.12	SW-Poly
MJ76		571.00	626.00	55.00	1.88	0.17	0.16	12.89	0.10	MS/SW-Cu
	Incl.	575.00	621.00	46.00	2.11	0.20	0.16	13.28	0.06	SW-Cu
MJ76W1		597.20	638.55	41.35	1.75	0.05	0.07	12.05	0.15	SW-Cu
	Incl.	598.00	628.00	30.00	2.14	0.06	0.05	13.37	0.15	SW-Cu
MJ76W3		604.00	629.00	25.00	2.54	0.36	0.22	17.56	0.09	SW-Cu
	Incl.	604.00	610.00	6.00	4.60	0.81	0.67	22.35	0.15	SW-Cu
	Incl.	615.00	624.00	9.00	3.16	0.29	0.10	29.10	0.11	SW-Cu
MJ78W2		575.00	607.00	32.00	1.71	1.15	0.10	8.00	0.16	SW-Cu
	Incl.	580.00	590.00	10.00	2.68	1.67	0.12	9.60	0.30	SW-Cu
MJ79		603.00	629.00	26.00	2.78	1.08	0.23	15.96	0.14	MS-Cu
	Incl.	603.00	613.00	10.00	4.39	1.64	0.41	26.10	0.18	MS-Cu
MJ79W1		562.00	571.00	9.00	1.58	0.77	0.21	13.80	0.07	SW-Cu
MJ82		601.00	636.00	35.00	1.19	0.04	0.04	14.26	0.13	MS/SW-Cu
	Incl.	614.30	618.00	3.70	5.12	0.16	0.05	16.68	0.04	SW-Cu

The locations of the drill holes are shown below in Figure 4. Priority has been given to the high-grade areas where the drill hole spacing is tighter. Further infill drilling is in progress in several areas.  

Background

PMV is located in the Iberian Pyrite Belt of southern Spain approximately 28 km to the south of Atalaya's 15 Mtpa processing plant at Proyecto Riotinto. PMV consists of a highly prospective land package that includes the Valverde Exploitation Concession (CE Valverde), which contains the Masa Valverde and Majadales volcanogenic massive sulphide ("VMS") type deposits. 

Figure 1: Proyecto Masa Valverde Location

In April 2022, Atalaya announced a NI 43-101 compliant Mineral Resource Estimate for the Masa Valverde and Majadales deposits. Thereafter, Atalaya focused on the definition of higher-grade zones and an infill drilling programme was designed and initiated.

Atalaya was granted the Unified Environmental Authorisation (Autorización Ambiental Unificada ("AAU")) by the Junta de Andalucía in March 2023 after initiating the permitting process in December 2021. Subsequently, Atalaya was granted the Exploitation and Restoration permits for the Valverde Exploitation Concession in December 2023 and the water permit in May 2024. The permitting timeline for PMV highlights that Andalucía is a world-class mining jurisdiction.

Atalaya plans to access the Masa Valverde and Majadales deposits by constructing a ramp from surface. Underground mining is expected to be completed by a mining contractor, which is consistent with other operations across the Iberian Pyrite Belt including at Sandfire's neighbouring MATSA mines, and allows Atalaya to benefit from the significant underground mining skills in the region.

Mined material will then be trucked to Proyecto Riotinto in order to leverage Atalaya's existing 15 Mtpa processing plant. The copper stockwork-style of mineralisation is expected to be amenable for processing without requiring significant investment in plant modifications. This is consistent with Atalaya's strategy for developing Riotinto into a central processing hub for its assets across the Riotinto District, thereby facilitating higher production and a longer life-of-mine at competitive capital intensity and reduced execution risk.

Figure 2: Plan View of PMV, the Valverde Exploitation Concession and Planned Ramp

Figure 2 is a plan view of PMV, showing the Valverde Exploitation Concession, the four orebodies discovered so far (Masa Valverde, Majadales, Campanario and Mojarra) and the planned ramp to the Majadales and Masa Valverde deposits. The ramp will also facilitate more efficient exploration of the possible connection between Masa Valverde and Majadales.

Figure 3: 3D View of PMV from the N-E, Showing Drill Holes and samples >0.5% Cu

Figure 4: Detailed Plan View of the Masa Valverde Deposit

The following set of sections, as shown in Figure 4, illustrate the new assay results and the geometry of the high-grade zones.

Figure 5: Section A

Section A is located in a sector of the deposit where additional infill drilling is in progress to improve definition of the high-grade copper intervals from previous holes.

Figure 6: Section B

Section B illustrates stockwork copper zones which are situated laterally and under the massive sulphides in the south-west and north-east sectors, and the polymetallic zinc-rich mineralisation hosted by massive sulphides in the central part of the deposit.

Figure 7: Section C

Figure 8: Section D

 

Figure 9: 3D View from the North-East of the Masa Valverde Deposit

Figure 9 shows the mineralisation wireframes, copper values above 0.5%, the planned ramp and the nearby Majadales deposit which will also be accessible from the planned ramp. The new holes are represented by the thicker black lines in the diagram.

Next Steps

Two rigs are currently onsite, and it is expected that the ongoing infill drilling programme will be completed by the end of 2025. In parallel with drilling, the Company is refining the geological and geometallurgical models in order to support an updated Mineral Resource Estimate.

Metallurgical test work is also in progress, with the current focus on high-grade stockwork-type copper material. Future test work is planned for the polymetallic material including related to the production of zinc concentrates from areas of high-grade zinc mineralisation, as well as to investigate the potential recovery of gold from gold-rich mineralisation that is independent of the copper and zinc mineralisation. Application of the E-LIX System will be tested in conjunction.   

Atalaya is currently finalising the purchase of certain surface rights which are required to begin development of the ramp portal. Subject to final approval by Atalaya's Board of Directors, ramp development is expected to begin in late 2025.

Technical Information

The technical information in this announcement that relates to the Proyecto Masa Valverde has been compiled by Juan Manuel Pons Pérez, senior geologist and employee of the Company. Juan Manuel Pons Pérez has over 30 years' experience, he is a member of good standing with the College of Geologists of Andalucía and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person. Juan Manuel Pons Pérez consents to the inclusion in this release of the matters based on his information in the form and context in which it appears.

Glossary of Terms

Ag	Silver
Au	Gold
Cu	Copper
g/t	Grams per tonne
m	Metres
Mineral Resources	A concentration or occurrence of material of intrinsic economic interest in or on the Earth's crust in such a form and quantity that there are reasonable prospects for eventual economic extraction. The location, quantity, grade, geological characteristics and continuity of a Mineral Resource are known, estimated or interpreted from specific geological evidence and knowledge. Mineral Resources are sub-divided, in order of increasing geological confidence, into Inferred, Indicated and Measured categories.
MS	Massive Sulphide ore
MS-Au	Gold-rich Massive Sulphide ore
MS-Cu	Copper-rich Massive Sulphide ore
MS-Poly	Massive Sulphide polymetallic ore
Mt	Million tonnes
Mtpa	Million tonnes per annum
NI 43-101	Canadian National Instrument for the Standards of Disclosure for Mineral Projects
Pb	Lead
SW	Stockwork ore
SW-Cu	Copper-rich Stockwork ore
SW-Poly	Polymetallic Stockwork ore
VMS	Volcanic Massive Sulphide
Zn	Zinc

Contacts:

SEC Newgate UK	Elisabeth Cowell / Tom Carnegie / Gwen Samuel	+44 20 3757 6882
Atalaya Mining	Michael Rechsteiner	+34 959 59 28 50

About Atalaya Mining Copper, S.A.

Atalaya is a European copper producer that owns and operates the Proyecto Riotinto complex in southwest Spain. Atalaya's shares trade on the London Stock Exchange's Main Market under the symbol "ATYM" and Atalaya is a FTSE 250 Index constituent.

Atalaya's operations include the Cerro Colorado open pit mine and a modern 15 Mtpa processing plant, which has the potential to become a central processing hub for ore sourced from its wholly owned regional projects around Riotinto, such as Proyecto Masa Valverde and Proyecto Riotinto East. In addition, Atalaya has a phased earn-in agreement for up to 80% ownership of Cobre San Rafael S.L., which fully owns the Proyecto Touro brownfield copper project in the northwest of Spain, as well as a 99.9% interest in Proyecto Ossa Morena. For further information, please visit www.atalayamining.com

Appendix: Summary of Masa Valverde Intercepts⁽¹⁾⁽²⁾

Hole ID	Length	From	To	Interval	Cu	Zn	Pb	Ag	Au	Ore type
	m	m	m	m	%	%	%	g/t	g/t
MJ55	1,039.40	909.00	916.00	7.00	0.55	0.02	0.08	20.86	1.84	MS
		923.00	927.60	4.60	0.55	0.18	0.23	21.57	1.25	MS
MJ56(3)	1,098.10
MJ57	1,013.80	781.00	784.00	3.00	0.53	1.41	0.06	6.00	0.07	SW
		786.00	789.00	3.00	0.58	0.38	0.03	2.33	0.03	SW
		791.00	795.00	4.00	0.65	1.18	0.07	2.00	0.04	SW
MJ58	727.40	454.20	476.00	21.80	0.18	4.67	2.52	50.21	0.82	MS-Poly
	Incl.	458.00	462.00	4.00	0.20	8.01	2.65	51.50	0.72	MS-Poly
		495.00	515.00	20.00	0.81	0.08	1.28	83.95	1.24	MS-Cu
	Incl.	495.00	502.00	7.00	1.21	0.10	2.75	163.57	1.97	MS-Cu
		525.00	562.00	37.00	0.68	0.08	0.07	16.54	0.44	MS
		585.00	588.00	3.00	0.80	0.33	0.13	4.00	0.03	SW-Cu
		612.00	617.00	5.00	0.83	0.05	0.02	9.20	0.05	SW-Cu
		643.70	667.00	23.30	0.76	0.45	0.18	29.78	0.81	MS
	Incl.	643.70	647.00	3.30	1.01	2.89	0.15	37.24	0.52	MS-Poly
	Incl.	664.00	667.00	3.00	1.01	0.04	0.17	30.33	0.95	MS-Cu
MJ59	703.60	454.55	476.30	21.75	0.19	5.91	1.49	40.33	0.70	MS-Poly
		498.00	514.00	16.00	0.75	0.34	1.35	73.13	1.27	MS
	Incl.	499.00	505.00	6.00	1.01	0.68	2.80	120.33	1.47	MS-Cu
		523.00	548.00	25.00	0.82	0.42	0.10	22.48	0.29	MS-Cu
	Incl.	525.00	533.00	8.00	1.00	1.21	0.15	22.50	0.33	MS-Cu
		584.00	591.00	7.00	1.07	0.18	0.05	5.00	0.02	SW-Cu
		618.00	645.00	27.00	0.71	0.05	0.09	9.93	0.31	MS/SW
	Incl.	637.00	644.00	7.00	1.02	0.01	0.13	15.71	0.52	MS-Cu
MJ60	833.60	549.50	580.00	30.50	0.71	0.04	0.13	24.86	0.68	MS/SW
	Incl.	551.00	557.00	6.00	1.11	0.05	0.04	25.60	0.42	SW-Cu
		583.00	588.00	5.00	0.54	0.46	0.07	11.20	0.35	SW
		607.00	634.00	27.00	0.42	5.46	1.46	53.00	1.01	MS-Poly
	Incl.	634.00	640.00	6.00	1.20	0.95	0.11	25.17	0.39	MS-Cu
		645.70	693.00	47.30	0.73	1.37	0.47	9.48	0.17	SW
	Incl.	651.00	659.00	8.00	0.59	3.91	2.30	26.25	0.38	MS-Poly
	Incl.	681.00	685.70	4.70	1.22	1.01	0.03	4.64	0.05	SW-Cu
		698.00	713.00	15.00	1.16	0.98	0.09	1.54	0.04	SW-Cu
	Incl.	709.00	712.00	3.00	2.34	1.05	0.18	3.00	0.07	SW-Cu
		773.00	777.00	4.00	0.54	0.03	0.07	10.50	0.47	MS
		781.00	793.00	12.00	0.58	0.03	0.12	13.19	1.04	MS
MJ61	1,057.90	940.90	946.00	5.10	0.59	1.24	0.80	27.47	0.09	SW
		949.00	953.50	4.50	0.61	2.31	1.03	34.22	0.27	SW-Poly
MJ62	1,167.20	916.00	919.00	3.00	0.87	0.01	0.00	1.67	0.01	SW-Cu
PV4	867.80	728.00	736.90	8.90	0.79	0.02	0.15	21.66	2.79	MS-Cu
MJ63(3)	829.30
MJ64(3)	905.50
MJ65	859.30	484.00	487.00	3.00	0.97	0.18	0.97	108.67	1.34	SW-Cu
		568.00	593.00	25.00	2.93	2.27	0.11	12.68	0.08	SW-Cu
		606.00	609.00	3.00	0.70	0.61	0.01	2.34	0.10	SW
		650.00	653.00	3.00	0.58	0.11	0.00	2.33	0.09	SW
		662.80	673.00	10.20	0.68	0.02	0.23	15.65	0.39	MS
PV3(3)	642.20
MJ66(3)	594.70
MJ67	818.40	582.00	585.00	3.00	0.54	0.02	0.08	9.67	0.15	SW
		588.00	594.80	6.80	0.59	0.02	0.05	7.35	0.39	SW
		601.00	615.00	14.00	0.77	0.04	0.04	8.50	0.08	SW
	Incl.	602.00	606.00	4.00	1.19	0.07	0.07	12.50	0.14	SW-Cu
		619.00	622.00	3.00	0.61	0.01	0.02	8.33	0.05	SW
		626.00	634.00	8.00	0.69	0.07	0.09	39.50	0.57	SW
		671.00	687.00	16.00	0.72	0.10	0.03	10.44	0.15	SW
	Incl.	682.00	687.00	5.00	1.07	0.24	0.02	10.60	0.07	SW-Cu
		694.00	697.00	3.00	0.70	0.03	0.03	3.34	0.03	SW
		703.00	706.00	3.00	0.55	0.01	0.01	5.33	0.03	SW
		711.00	718.00	7.00	0.82	0.50	0.02	9.71	0.03	SW-Cu
		727.00	730.00	3.00	1.18	0.26	0.01	4.00	0.09	SW-Cu
MJ68	676.10	406.90	414.00	7.10	0.76	0.93	3.71	104.23	1.09	MS
		470.00	512.00	42.00	0.83	0.79	0.23	10.76	0.07	SW-Cu
MJ69(3)	652.70
MJ70(3)	824.40
MJ70W1	776.00	687.00	700.00	13.00	0.67	0.03	0.01	6.62	0.15	SW
		716.00	719.00	3.00	0.59	0.31	0.00	0.67	0.01	SW
		722.00	727.00	5.00	0.59	0.10	0.00	1.00	0.01	SW
		731.00	736.00	5.00	0.77	0.23	0.01	2.81	0.02	SW
MJ70W2(3)	498.30
MJ70W3	776.70	694.00	701.00	7.00	0.01	2.78	1.26	22.43	1.15	SW-Poly
	Incl.	694.00	698.00	4.00	0.02	4.13	1.76	31.50	0.11	SW-Poly
		753.00	761.00	8.00	2.31	0.97	0.00	6.63	0.09	SW-Cu
MJ71	920.70	708.00	721.00	13.00	1.13	0.24	0.01	5.46	0.14	SW-Cu
		737.00	740.00	3.00	0.97	0.01	0.00	2.00	0.05	SW-Cu
		749.00	753.00	4.00	0.54	0.01	0.00	3.00	0.02	SW-Cu
		844.00	855.00	11.00	0.35	2.52	0.17	26.36	0.78	MS-Poly
	Incl.	849.00	854.00	5.00	0.28	4.07	0.20	29.80	0.89	MS-Poly
		870.00	875.00	5.00	0.59	0.03	0.13	37.40	0.51	MS
		877.00	884.00	7.00	0.38	5.60	2.78	53.14	0.77	MS-Poly
		896.00	901.00	5.00	0.72	0.30	0.67	26.80	0.47	MS
MJ72	750.90	544.00	553.00	9.00	0.19	2.03	0.15	5.78	0.09	SW-Poly
		572.00	575.00	3.00	0.55	1.88	0.22	16.33	0.44	SW-Poly
		586.00	593.00	7.00	0.78	1.76	0.13	9.77	0.30	SW-Poly
		611.00	629.00	18.00	2.17	0.90	0.04	7.83	0.11	SW-Cu
	Incl.	620.00	623.00	3.00	7.84	2.05	0.08	20.00	0.23	SW-Cu
		635.00	638.00	3.00	0.52	0.06	0.02	12.33	0.43	SW
MJ72W1	713.15	563.00	568.00	5.00	2.24	0.08	0.09	34.20	0.66	SW-Cu
		576.00	592.00	16.00	0.70	0.65	0.12	12.88	0.24	SW
	Incl.	579.00	583.00	4.00	1.10	0.62	0.15	20.75	0.41	SW-Cu
		685.00	688.00	3.00	0.57	0.02	0.03	8.00	0.46	SW
MJ72W2	699.50	483.00	511.00	28.00	0.74	0.38	0.18	19.80	1.21	MS
		522.00	525.00	3.00	0.66	0.05	0.16	9.00	0.42	SW
		535.00	638.00	103.00	0.95	0.19	0.06	6.96	0.21	SW-Cu
	Incl.	577.00	605.00	28.00	1.25	0.38	0.10	7.44	0.09	MS-Cu
	Incl.	619.00	627.00	8.00	1.49	0.30	0.05	10.00	0.12	SW-Cu
MJ73	755.00	591.00	609.00	18.00	0.81	1.21	0.06	8.44	0.09	SW-Cu
	Incl.	596.00	603.00	7.00	1.12	0.72	0.06	12.86	0.10	SW-Cu
		618.00	622.00	4.00	0.55	0.01	0.01	2.00	0.04	SW
		624.00	641.00	17.00	0.64	0.04	0.02	10.71	0.12	SW
		661.00	664.00	3.00	0.88	0.02	0.01	7.00	0.03	SW-Cu
		683.00	686.00	3.00	0.54	0.02	0.01	1.67	0.02	SW
MJ73W1	739.80	579.00	662.00	83.00	1.19	0.92	0.12	10.11	0.17	SW-Cu
	Incl.	621.00	629.00	8.00	0.81	3.40	0.38	6.75	0.08	SW-Poly
	Incl.	650.00	662.00	12.00	2.39	0.65	0.15	19.50	0.12	SW-Cu
		666.00	669.00	3.00	0.69	0.14	0.02	6.00	0.01	SW
		676.00	692.00	16.00	1.16	0.67	0.31	6.00	0.03	SW-Cu
	Incl.	676.00	678.00	2.00	2.40	1.99	0.80	8.00	0.05	SW-Cu
	Incl.	683.00	690.00	7.00	1.49	0.60	0.06	9.72	0.04	SW-Cu
		695.00	699.00	4.00	1.51	0.41	0.01	8.25	0.05	SW-Cu
MJ73W2	730.30	581.00	588.00	7.00	0.09	2.76	0.23	7.57	0.46	SW-Poly
		593.00	656.00	63.00	1.03	1.02	0.04	6.84	0.10	SW-Cu
	Incl.	595.00	602.00	7.00	0.91	4.76	0.07	12.43	0.07	SW-Poly
		699.00	702.00	3.00	2.22	0.99	0.03	8.33	0.29	SW-Cu
MJ74	709.90	461.00	473.00	12.00	0.19	0.04	1.47	123.33	1.61	MS-Au
		473.00	481.00	8.00	0.23	4.27	5.27	130.63	1.82	MS-Poly
		490.00	523.00	33.00	0.57	0.06	0.09	11.42	0.46	MS
		541.00	567.00	26.00	0.52	0.22	0.12	11.32	0.23	MS
		567.00	585.00	18.00	0.61	2.32	0.36	12.84	0.23	MS-Poly
		591.00	595.00	4.00	0.55	0.18	0.03	2.00	0.22	SW
		599.00	652.00	53.00	1.36	1.57	0.08	4.04	0.10	SW-Cu
	Incl.	599.00	614.00	15.00	2.32	3.50	0.17	5.93	0.12	SW-Poly
		668.00	671.00	3.00	0.60	0.04	0.00	1.33	0.11	SW
MJ75	676.50	471.00	475.00	4.00	0.52	0.28	2.31	184.00	0.81	MS
		475.00	500.00	25.00	0.35	4.85	2.86	56.48	0.62	MS-Poly
	Incl.	476.00	483.00	7.00	0.33	9.17	5.24	77.43	0.95	MS-Poly
		518.00	521.00	3.00	0.52	0.49	0.11	29.00	0.62	MS
		529.00	550.00	21.00	0.28	2.49	0.77	47.29	0.78	MS-Poly
		550.00	564.00	14.00	0.68	1.49	0.32	37.57	0.43	MS
		569.00	575.00	6.00	0.22	3.56	1.20	32.50	0.41	SW-Poly
		588.00	591.00	3.00	0.84	0.33	0.19	17.00	0.27	SW-Cu
		613.00	633.00	20.00	1.00	2.87	0.08	14.50	0.14	MS-Poly
	Incl.	614.00	618.00	4.00	1.68	0.90	0.06	17.00	0.19	MS-Cu
	Incl.	619.00	630.00	11.00	0.87	4.26	0.09	15.27	0.14	MS-Poly
		646.00	650.00	4.00	0.63	0.02	0.01	2.00	0.20	SW
MJ75W1	780.40	472.00	476.00	4.00	0.25	2.55	0.52	29.00	0.53	MS-Poly
		487.00	500.00	13.00	0.23	4.01	0.13	23.54	0.83	MS-Poly
		513.00	534.00	21.00	0.30	5.16	2.96	64.86	1.07	MS-Poly
	Incl.	513.00	524.00	11.00	0.28	7.38	3.71	66.09	1.21	MS-Poly
		539.00	545.00	6.00	0.63	0.76	1.04	54.33	0.54	MS
		554.00	561.00	7.00	0.60	0.06	0.20	28.00	0.33	MS
		565.00	568.00	3.00	0.53	1.09	0.59	25.00	0.63	MS
		568.00	575.00	7.00	0.08	3.31	2.17	26.34	0.45	SW-Poly
		585.00	614.10	29.10	0.68	1.37	0.11	23.96	0.12	SW
	Incl.	611.00	614.10	3.10	1.13	4.78	0.13	18.68	0.17	MS-Poly
		726.00	755.00	29.00	0.58	0.03	0.10	17.59	0.71	MS
MJ76	653.10	539.00	556.00	17.00	0.04	2.03	1.76	34.56	0.39	MS-Poly
		571.00	626.00	55.00	1.88	0.17	0.16	12.89	0.10	MS/SW-Cu
	Incl.	575.00	621.00	46.00	2.11	0.20	0.16	13.28	0.06	SW-Cu
MJ76W1	674.00	524.50	530.30	5.80	0.18	0.23	1.62	101.76	1.40	MS-Au
		588.30	591.70	3.40	0.69	0.03	0.09	13.29	0.23	MS
		597.20	638.55	41.35	1.75	0.05	0.07	12.05	0.15	SW-Cu
	Incl.	598.00	628.00	30.00	2.14	0.06	0.05	13.37	0.15	SW-Cu
MJ76W2	611.50	563.00	579.75	16.75	1.03	0.02	0.10	9.54	0.14	MS-Cu
	Incl.	574.00	578.40	4.40	1.82	0.03	0.09	10.91	0.10	MS-Cu
MJ76W3	707.00	540.00	543.00	3.00	0.54	0.17	4.71	202.00	1.35	MS
		577.00	629.00	52.00	1.53	0.22	0.19	20.25	0.16	MS/SW-Cu
	Incl.	604.00	629.00	25.00	2.54	0.36	0.22	17.56	0.09	SW-Cu
	(Incl.)	604.00	610.00	6.00	4.60	0.81	0.67	22.35	0.15	SW-Cu
	(Incl.)	615.00	624.00	9.00	3.16	0.29	0.10	29.10	0.11	SW-Cu
		644.00	653.00	9.00	0.99	0.02	0.06	6.00	0.05	SW-Cu
		660.00	666.80	6.80	1.04	0.03	0.07	48.88	0.09	SW-Cu
MJ77	591.80	503.00	506.00	3.00	0.56	0.04	0.45	37.67	1.67	MS-Au
		524.00	527.40	3.40	0.58	0.04	0.17	13.53	0.46	MS
		537.80	564.00	26.20	0.74	0.03	0.10	21.42	0.37	MS
	Incl.	550.00	558.00	8.00	1.03	0.03	0.11	9.13	0.33	MS-Cu
MJ78	767.50	453.00	479.00	26.00	0.33	3.79	1.14	37.88	0.85	MS-Poly
	Incl.	469.00	474.00	5.00	0.30	6.34	1.01	40.00	0.87	MS-Poly
		479.00	523.00	44.00	0.73	3.19	0.84	37.80	0.82	MS-Poly
	Incl.	484.00	493.00	9.00	1.00	0.24	0.10	17.22	0.45	MS-Cu
	Incl.	494.00	529.00	35.00	0.62	4.08	1.19	44.40	0.93	MS-Poly
	(Incl.)	496.00	505.00	9.00	0.52	9.43	2.91	88.89	1.27	MS-Poly
		570.00	575.00	5.00	0.89	0.34	0.02	5.40	0.19	SW-Cu
		641.00	669.00	28.00	0.44	4.29	2.28	57.36	1.14	MS-Poly
		670.00	678.80	8.80	0.60	1.25	2.69	67.27	1.27	MS
		713.00	737.00	24.00	0.66	0.88	0.94	38.33	1.14	MS
MJ78W1	656.40	435.70	491.00	55.30	0.67	0.76	0.45	30.03	0.77	MS
	Incl.	476.00	482.00	6.00	0.76	2.20	0.13	14.67	0.52	MS-Poly
		502.00	533.50	31.50	0.85	1.79	1.16	25.48	0.55	MS-Poly
	Incl.	510.00	516.00	6.00	0.62	3.18	2.13	31.50	0.43	MS-Poly
	Incl.	524.00	528.00	4.00	2.02	0.56	1.03	36.20	0.65	MS-Cu
		543.00	549.00	6.00	0.26	2.56	0.63	25.67	0.23	SW-Poly
		552.00	557.00	5.00	0.29	2.21	0.33	12.20	0.23	SW-Poly
		576.00	580.00	4.00	1.68	1.47	0.06	41.50	0.58	SW-Cu
		591.00	607.00	16.00	1.06	2.10	0.06	14.16	0.23	SW-Poly
	Incl.	591.00	594.00	3.00	2.23	3.26	0.12	42.00	0.59	SW-Poly
MJ78W2	695.05	446.40	449.40	3.00	0.52	3.05	0.72	29.00	0.83	MS-Poly
		456.00	460.00	4.00	0.57	0.46	0.21	17.75	0.52	MS
		465.00	495.00	30.00	0.79	1.17	0.21	18.33	0.39	MS
	Incl.	477.00	486.00	9.00	0.85	2.77	0.34	23.11	0.32	MS-Poly
		495.00	563.00	68.00	0.68	4.82	1.36	33.29	0.41	MS/SW-Poly
	Incl.	515.00	528.00	13.00	0.63	8.29	3.10	42.86	0.30	MS-Poly
		575.00	607.00	32.00	1.71	1.15	0.10	8.00	0.16	SW-Cu
	Incl.	580.00	590.00	10.00	2.68	1.67	0.12	9.60	0.30	SW-Cu
MJ79	648.90	549.00	634.25	85.25	1.35	0.76	0.25	11.50	0.11	MS/SW-Cu
	Incl.	603.00	629.00	26.00	2.78	1.08	0.23	15.96	0.14	MS-Cu
	(Incl.)	603.00	613.00	10.00	4.39	1.64	0.41	26.10	0.18	MS-Cu
MJ79W1	613.10	498.20	514.00	15.80	0.42	5.79	2.86	57.99	0.64	MS-Poly
		523.00	530.00	7.00	0.32	3.76	2.40	38.29	0.68	MS-Poly
		551.00	582.00	31.00	0.96	0.27	0.17	15.40	0.13	MS-Cu
	Incl.	562.00	571.00	9.00	1.58	0.77	0.21	13.80	0.07	SW-Cu
		586.40	591.90	5.50	0.69	0.02	0.07	11.16	0.22	MS
MJ80	739.30	573.30	604.00	30.70	0.62	1.95	1.25	43.31	0.98	MS
	Incl.	585.00	603.00	18.00	0.66	3.15	1.70	42.34	0.79	MS-Poly
	(Incl.)	596.00	599.00	3.00	0.52	7.05	3.43	66.80	0.73	MS-Poly
		626.00	632.00	6.00	0.52	0.62	1.75	118.00	0.75	MS
		632.00	640.00	8.00	0.42	3.00	1.93	59.13	0.77	MS-Poly
		648.00	656.00	8.00	0.55	0.78	0.95	29.50	0.30	MS
		656.00	674.00	18.00	0.43	4.16	1.06	0.16	0.31	MS-Poly
		674.00	689.00	15.00	0.97	0.78	0.16	18.30	0.15	MS/SW-Cu
	Incl.	684.00	687.55	3.55	2.16	1.01	0.11	13.89	0.05	SW-Cu
MJ82	650.30	517.00	550.45	33.45	0.64	0.22	0.68	52.50	0.83	MS
		595.00	600.00	5.00	0.38	6.96	2.57	31.20	0.51	MS-Poly
		601.00	636.00	35.00	1.19	0.04	0.04	14.26	0.13	MS/SW-Cu
	Incl.	614.30	618.00	3.70	5.12	0.16	0.05	16.68	0.04	SW-Cu
		640.00	645.00	5.00	0.72	0.04	0.05	26.20	0.05	SW

Notes:

1.     Intercepts are reported as down-hole thickness, based on the criteria of 0.5% Cu (or 2% Zn) cut-off value, minimum composite of 3m and maximum internal waste of 4m.

2.     Assays are from ALS laboratory unless otherwise noted.

3.     No significant intersection