Kraaipan West Project

The Kraaipan West Gold-Nickel-Copper-PGM Project provides Laconia with an even greater coverage of the highly prospective Amalia-Kraaipan greenstone rocks, which have only been subjected to minor previous mineral exploration.

The Kraaipan West Project comprises Prospecting Licences, PL064/2017 and PL065/2017, which are 584 km2 and 446km2 in area respectively and are valid for three years (Figure 1). This project is approximately 30 kilometres to the west of Laconia's flagship Kraaipan Gold-Nickel-Copper-PGM Project and covers an approximately 15 kilometre long stretch of the Amalia-Kraaipan Greenstone Terrane (AKGT).

The southern boundary of the tenures is located along Botswana’s southern border with South Africa and can be accessed via well-maintained, all weather roads from Gaborone (capital of Botswana), approximately 180 kilometres to the north.

Figure: Location of the Kraaipan and Kraaipan West Gold-Nickel-Copper-PGM projects in relation to the Harmony’s Kalgold Mine and the African Rainbow Minerals’ Kalplats Project across the border in South Africa.

Laconia plans to immediately commence a comprehensive, targeted exploration program of the 50 strike kilometre’s of highly prospective, greenstone rocks within its flagship Kraaipan Gold-Nickel-Copper-PGM Project. This exploration program will utilise geochemical and geophysical techniques which have been used to find gold deposits in Australia’s Yilgarn Goldfields but have not yet been routinely applied in this terrane. If these exploration techniques are successful on the Kraaipan Project, they will then be applied to the Kraaipan West Project. The reasoning behind the focus on the Kraaipan Project first is that this area has varying thicknesses of Kalahari cover from outcropping at the most 30 metres depth, while at Kraaipan West the Kalahari cover is deeper, between 30 and 60 metres depth. In most cases, the shallower the cover the more likely it is that a blind mineral deposit can be detected by geochemical sampling methods however, 30 to 60 metres depth is still not considered deep enough to significantly impede the application of geochemical sampling methods focused on 'Pathfinder' elements.

Competent Person Statement

The information in this report that relates to exploration results is based upon information prepared and reviewed by Dr Quinton Hills who is a Member of the Australasian Institute of Mining and Metallurgy. Dr Hills is an employee of Laconia Resources Limited and 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 Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Dr Hills consents to the inclusion in this report of the matters based on information in the form and context in which it appears.