Importantly, veins of quartz-chalcopyrite-molybdenite which resemble Type-B veins in a porphyry system were identified in drill core. Porphyry Type-B veins are a classic indication of a nearby porphyry system. Relatively high molybdenum values dominate the upper parts of BTDD004 where there is an observed association with dacite porphyry intrusions and folded Type-B veins.

Alteration assemblages of silica-sericite, K-feldspar and actinolite affecting the dacite porphyries are considered to represent a high temperature alteration phase, either related to the dacites or to a later buried porphyry located further to the west. The dacite porphyries have intruded the andesitic volcanic wall rock and both exhibit varying degrees of strong fracturing and local breccia to crackle brecciation. Sheeted sericite-pyrite-chalcopyrite and sericite-pyrrhotite veins and some stockwork veins are developed lower in the hole.

Structural orientations of the stockwork veins are variable, but general populations show dips to the northeast to north and southeast to southwest, likely indicating at least two porphyry systems to be the source of the veins. The more intensely mineralised sheeted vein sets are predominantly developed within the andesitic wall rocks and exhibit relatively lower amounts of molybdenum that sharply contrasts with the higher molybdenum in the dacite porphyry-intruded zones. The extensive mineralisation intersected in BTDD004 is significant and adds to significant copper mineralisation intersected in earlier-reported holes: BTDD001: 552.6m @ 0.16% Cu, 0.02g/t Au, 0.7g/t Ag from 132m to the end of hole at 684.6m 2; and SBTRD006 (2018): 292m @ 0.22% Cu (148.0m to 440.0m), including 18.7m @ 1.12% Cu (328.0m to 346.7m) 3. BTDD003 intersected a similar suite of andesitic volcanics with more abundant tonalite.

Significantly, dacite porphyry intrusions were not encountered. Only minor amounts of copper mineralisation were returned generally throughout the hole, with better grades observed at the lower parts of the hole. BTDD003, being located further to the east, is considered to be outside the zone of porphyry-related mineralisation.

Drill holes BTDD001 and BTDD003 confirmed that the intensely chargeable core of the MIMDAS IP chargeability anomaly is not caused by a high degree of copper sulphide mineralisation. In response to this observation, BTDD004 was drilled. The highly successful results from BTDD004 have provided information that has been instrumental to the Company's advancement towards realising the porphyry potential at Bottletree.

In particular, there is an apparent correlation between more moderate levels of intrinsic chargeability and strong copper mineralisation. This observation is also apparent in the Company's 2018 drill hole SBTRD006, which intersected 292m @ 0.22% Cu (148.0m to 440.0m), including 18.7m @ 1.12% Cu (328.0m to 346.7m). As a result of these observations, the MIMDAS IP survey data was remodelled, taking into account the effect of the intense chargeability of the original IP anomaly and the high resistivity in areas to the west of BTDD004 where the highest priority porphyry targets have been identified.

Both 2D and 3D remodelling of the MIMDAS data was undertaken with initial results recently received. In contrast to the original IP models, the new models have highlighted an extensive zone of variably moderate chargeability that extends for up to 1 kilometre westwards from BTDD004 with a highly anomalous zone about 500m west of BTDD004 (Figures 5 and 6). The moderately chargeable IP features are modelled to approximately 300m below surface and are generally coincident with the highest priority Cu and Mo soil anomalies, a large circular aerial magnetic anomaly and circular satellite imagery features.

The chargeability anomaly is interpreted to potentially represent extensive areas of significant porphyry copper mineralisation. Drill holes have been planned to target a range of locations within the new chargeability features.