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Investor Presentaiton

THE DATA 2 Spa*ark Energy_23 Line A KUTh commissioned a number of MT surveys to map the 3D resistivity distribution within ~5kms of the earth's surface in the vicinity of the Lemont resource. A number of very low resistivity (<1 ohm.m) zones were defined at depths below ~2.5km; i.e., at temperatures above 100°C assuming the calculated geothermal gradient of 40°C/km is correct. The top figure shows a slice of the 3D modelled resistivity distribution at a depth of 3km. Recently, combined 3D modelling of the KUTH MT with data from the regional AusLAMP survey has been completed, resulting in a new model with less error, higher resolution and greater depth penetration (Ostersen, UTas PhD, 2020): middle figure. Ostersen (2020) writes "Interpretation.... gives high credibility to the existing conceptual model for the Lemont geothermal resource. Low resistivity structures in the new preferred model were found to be highly spatially correlated with recently active upper crustal fault networks, a result that was less clear in previous modelling. Minimum resistivities appear to manifest at the intersection of Devonian granite roof topography with inferred fault planes. Critically stressed faults at the granite contact likely result in high pore space fluid content with thermally enhanced conductivities." Zones of <1ohm.m shown in the middle figure (also see next slide). Modelling of the AusLAMP-only data shows that the Lemont low resistivity zone extends to depths below 10km (Ostersen, 2020: bottom figure); i.e., it is reasonable to infer a major structure with rapid recharge and minimal draw down in temperature. Top Figure: Depth slice of KUTH MT data at 3km below surface. A large zone of low resistivity correlates with a major east-west structure within the resource outline. Middle Figure: Combined modelling of KUTH MT data and adjacent regional AusLAMP stations resulted in a better resolved, shallower but extending to deeper, target. Bottom Figure: Modelling of the deeper-penetrating AusLAMP-only data indicates the low resistivity zone within Lemont extends to a depth of more than 10km below surface. Ohm.m 2000 Line B 1089 593 Line C 323 176 96 200000 0000055 300000 400000 Depth Slice: 10.06 - 11.11 km 688852- 15 1 300000 500000 700000 0000095 00000PS 0000015 0000025 200000 300000 400000 500000 600000 700000 Resistivity (ohm.m) Map Projection: GDA94 UTM 255 Km 80 120 160 ° 10 100 1000
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