Ann: DD Drilling Update, page-17

Joshdoofus,

Great questions.

1/ Glencore /Gecamines KCC deposit next door to TAR tenements in DRC is the the largest Copper mine in DRC and the 2nd largest Cobalt deposit. They also own the largest Cobalt deposit in DRC. As stated in my previous post they were drilling for more high grade Copper , not Cobalt as the Cobalt price back in 2012 when the historical drilling was completed by Gecamines was depressed and no one wanted Cobalt for EV market back then! Cobalt prices have lifted from US$21,000 in Jan 2016 to US$92,500/tonne as of 22/5/18. Can you see why Cobalt is now in demand?

"Historically, trenching and sampling programmes were carried out by African Minerals (no records available), followed by a reconnaissance programme conducted by l’Entreprise Generale Malta Forrest (EGMF). EGMF withdrew their interest in PR 12423 because they were not interested in cobalt when they conducted their site visit in 2013 and copper grades were too low to sustain any mining operation."
ASX release 1/3/18.

2/  TAR has all the historical drilling data from Gecamines and have completed trenching assay results to as part of their due diligence on the 7 tenements they are looking to acquire in DRC.

The initial information that has been released to the market is very encouraging and gives TAR plenty of confidence going on the results achieved so far. More than 1 hole was drilled by Gecamines and TAR has all the historical data and is now conducting due diligence drilling to confirm those grades and widths and eventually complete a JORC resource if they proceed with the purchase the 7 tenements currently under DD revue. The historical results below list multiple mineralised zones of high grade Cobalt! Thats good enough for me to invest and take an educated risk on my investment in TAR.
See below from ASX release 1/3/18:

•  Historic exploration drilling intersected multiple mineralised zones of shallow, high-grade cobalt mineralisation including:

o 26.5m @ 2% Co and 1% Cu from 78.1m
&32.2m @ 3% Co and 0.5% Cu from 209.6m;
o 33.6m @ 2% Co from 77.93m
o 46.8m@2% Co from 7m
(Note drilling is vertical and refers to down hole intersections, true width is not known at this stage)

•   Results from recent channel sampling of the artisanal workings reported cobalt grades up to 13% Co. Artisanal mining is currently extracting high grade cobalt mineralisation.

The Company has contracted Equity Drilling Limited to conduct short due diligence drilling programmes at Mwilu and Kamilombe. Drilling is expected to commence in early April once the drill rig has been released by customs in Lubumbashi, DRC. Four drill holes will twin selected holes drilled by previous owners, KCC and Gecamines at Kamilombe to confirm grade, widths and stratigraphy announced 1 March 2018.

At Mwilu, two drill fences shown in Figure 1 are planned to confirm grade, widths of mineralisation and the proposed geological model of two parallel synclines as shown in section in Figure 2. Additional shallow holes will be drilled to confirm the grade and metallurgy of near surface mineralisation for potential small scale early production.

A total of 910m of drilling has been planned at the Kamilombe project and 4,000m at Mwilu.