72% Increase in Resource Estimate,Potash Project | RNS

Criteria	Commentary
Sampling techniques	· Samples were obtained by core sampling with all drilling of the potash unit fully cored. · The PKB drillholes obtained core samples by double tube core drilling or trepan drilling. Trepan drilling is a technique used for large diameter holes where a ring at the periphery of the hole is destructively drilled, leaving a solid core centre for sampling. The PZ drillholes and Emmerson drillholes cored the potash by diamond drilling, Emmerson by HQ double tube through the potash. · Geophysical logging was completed for natural gamma on the PKB drillholes and for density. The geophysical logs for these drillholes are unavailable and it is not stated if the PZ drillholes were also geophysically logged. Emmerson logged the full drillhole for natural gamma, and caliper. A smaller sub-section containing the potash unit was then logged in detail with the acoustic televiewer, and for resistivity and self-potential. The geophysical logging was conducted by International Geophysical Technology, S.L in 2016 (KMSL1 to KMSL3), and GeoAtlas of Morocco in 2019 (KMSL4 to KMSL12). Resistivity and self-potential was not completed on KMSL-3. The geophysical tools are calibrated off site apart from the caliper which was calibrated on site using the PQ drill rods. The consistencies of the geophysical outputs indicate no material bias and are seen to accurately characterise the individual potash unit and potash seam correlation. · Specific documentation of sampling and testing objectives and procedures for the PKB and PZ series (completed between 1955 and 1958 and 1962 and 1969 respectively) are unavailable. However, from analysis of the sample intervals and drillhole logs it can be deduced that the PKB drillholes were sampled to lithological boundaries and/or the natural gamma logs were used to guide the sample selection. The PZ series indicates that samples were taken above and below the main potash units in order to accurately define them. · All potash seams were fully sampled where they were intersected. In the PZ drilling, where the potash seam was partially intersected or the drillhole did not reach the appropriate depth, a wedge was used to drill a daughter hole in order to gain a full intersection. · The KMSL drillholes were sampled to lithological and mineralogical boundaries, with sample lengths varying between 0.01 m and 3.13 m. The PKB sample lengths vary between 0.1 m and 2.83 m, and PZ between 0.06 m and 3.58 m. · KMSL1 was point sampled for semi-quantitative XRD analysis. The sample locations were identified to represent all the different lithologies in, above and below the potash horizon.
Drilling techniques	· The PKB series were cased through the Miocene and alluvial sediments and open hole drilled by tricone with drill bits ranging from 15.88 cm to 21.59 cm in diameter. Salient intervals in this section were selectively cored by double tube diamond drilling or Trepan drilling in order to obtain intact rock samples of the units. Deviations were drilled to obtain full core samples of the potash unit where these were not intersected in the initial hole. The holes were drilled vertically. · The PZ series were drilled vertically. There is no available information on the drilling methods of this series, but the potash unit is expected to be cored for the intervals where there is sampling and chemical analysis available. · The KMSL series were drilled vertically. Mud rotary drilling was used to collar the hole through the Miocene and alluvial sediments which was then cased to between 20 m and 30 m depth. Mud rotary drilling with fresh water was used to drill to the Basalt Formation with selective use of PQ diamond drilling to obtain core from the different geological formations. The holes were then diamond drilled at HQ diameter using a CaCl₂ saturated mud (250-280 g of Cl/litre) to prevent dissolution of the salts and enable maximum recovery. Once retrieved from the core barrel the core was cut into 1 m pieces with a diamond saw using a saturated CaCl₂ brine for the salt units, photographed, then covered in plastic wrap to prevent exposure to moisture.
Drill sample recovery	· Core recovery is summarised in the PKB logs, by geological unit and drilling method, and is greater than 90% within the potash salt unit. There is no information in the PZ logs on core recovery, and it was not recorded for the KMSL holes. · Golder reviewed the geological database provided by Emmerson for instances where core loss was recorded for evaluation against modelled horizons, with only a limited number of comments found. Historically, it has been common to only record core loss where it occurs, rather than confirming no core loss as with modern day best practice. Core loss comments were used to calculate the percentage recovery within modelled potash horizons. · No core recovery information was available from KMSL1 to KMSL3, although it was reported to be high. Core recovery information from KMSL4 to KMSL12 was provided and reviewed by Golder and shown to average above 98% within the potash horizon, lowest in KMSL6 at 87%. · PZ35 and PZ47 were reported to have low core recovery from the TMZ horizon; 18% and 5% respectively and were rejected as Points of Observation by Golder. · Deviations were drilled in the historical holes to ensure the potash horizon was totally recovered where it was not cored in the original drilling.
Logging	· The PKB drillholes have summary lithological logs of the major lithological units, any significant changes within these units and the boundaries of the potash horizon including description of the main potash minerals where they could be visually identified. General dip measurements are recorded for the lower salt unit. No drillhole logs are available for PKB-7, PKB-8 and PKB-9. · The PZ drillholes have summary lithological logs recording the same information as the PKB series. No drillhole logs are available for PZ45 and PZ116, and there is incomplete information for drillholes PZ24, PZ50 and PZ121. · The KMSL drillholes were photographed, and lithologically logged. The logs were depth corrected using the downhole geophysical information to ensure they were as accurate as possible. · Within the total database including the drillholes outside of Emmerson's licences, approximately 98% of the sampled intersections have been logged. Only PZ116 of the 68 drillholes within the Emmerson licences does not have a lithological log of the sampled intersection, approximately 0.1% of the Emmerson sampled intersections (188.43 m). PZ116 lies at the northeastern edge of the deposit. Previous reports and maps by Touhami show that this drillhole was barren, however, a list of drillhole intercepts provided by ONHYM indicates there is a potash horizon of approximately 1.8 m at over 10% K₂O. This conflicting information needs to be verified by future drilling.
Sub-sampling techniques and sample preparation	· All drillholes were orientated vertically to perpendicularly intersect the sub-horizontal potash horizon. This ensured that the samples represented close to the true thickness of the potash unit and are appropriate for characterising the grade and mineralogical variability within the horizon. · No information on further sample preparation is available for the historical samples. In several instances samples were combined after initial analysis for %K₂O. However, it is not stated if full core or split core was sent for analysis. · The KMSL core was split in half by a diamond core saw using a saturated CaCl₂ brine. The sample intervals were then marked up on the core for further cutting, then weighed and vacuum packed in a plastic sample bag. The samples were sent for preparation at ALS in Seville, Spain. The whole sample was dried and crushed to 70% passing -2 mm then a 250 g fraction was pulverised to 85% passing -75 µm. · Emmerson inserted three internal pulp duplicates, five external pulp duplicates, three blank samples and three standard samples into the sample stream for KMSL1 to KMSL3 to assess the quality control of the analytical laboratory. · 51 control samples were introduced into the 2019 exploration programme, including 11 duplicates, 11 blanks and 11 standard samples. 15 check samples were also performed, with nine being re-tested by the original SGS laboratory and six being tested at a second check laboratory, SRC. Golder reviewed all control sample results from the 2019 exploration programme and consider the results to demonstrate good reliability and repeatability between the primary SGS and secondary SRC check laboratory. · Both ALS and SGS are internationally accredited and well-regarded laboratories. · The sample techniques used in the KMSL exploration series are considered appropriate for the type of lithologies and mineralisation sampled. In addition, the quality control samples provide a duplicate check on 15% of the sample population with other control samples, over 25% which is considered good. These techniques have ensured samples representative of the potash mineralisation have been taken in the KMSL and historical drillholes.
Quality of assay data and laboratory tests	· The PKB drillholes obtained 19 samples from six holes which were analysed for %K₂O at the M.Pellet BRPM laboratory. The analytical technique is not specified in the available historical information. · The PZ drillholes analysed 522 samples for %K₂O through an unspecified technique. 141 of these samples were also analysed for %Na⁺, %Ca²⁺, %Mg²⁺, %Cl^-, and %SO₄^2-. · The Emmerson samples were analysed by XRF (for metals and other major constituents), ICP-OES (soluble elements) and gravimetric analysis (insoluble residue) at ALS in Loughrea, Ireland. SRC Geoanalytical laboratories in Canada were used as a control laboratory and analysed five pulp duplicate samples. The analysis methods were soluble and insoluble digestion and ICP-OES. Both laboratories are internationally accredited. · 10 Emmerson point samples were analysed by semi-quantitative XRD at the National Museum of Natural History, Madrid, Spain, (CSIC). · 51 control samples were introduced into the 2019 exploration programme, including 11 duplicates, 11 blanks and 11 standard samples. 15 check samples were also performed, with nine being re-tested by the original SGS laboratory and six being tested at a second check laboratory, SRC. · The results of the quality control samples from the KMSL data (blanks, standards and duplicates) show good accuracy and repeatability in the analysis and preparation of the samples with no contamination being introduced in the process.
Verification of sampling and assaying	· No historical core from the PKB or PZ series was available for sampling and assaying which meant verification of the majority of the data was difficult. · Verification of the historical data and database, which constitutes 98% of the data used in the resource estimate, has been completed through Emmerson's recent twin drilling of five historical holes, resurveying of historical drillhole collars, and a check between the scanned BRPM summary logs and the digitised database for 10% of the data (14 drillholes) was performed by SRK. · The Emmerson "twin" holes varied in distance from their nearest historical collars but were positioned to check drillholes in five strategic locations. KMSL1 is 300 m east of PZ88 in the, KMSL2 is 20 m southwest of PZ111 located in the central Khemisset sub-basin, KMS-3 is 90 m north of PZ3 in the north central Khemisset sub-basin, KMSL10 is 30m from HH4 in the northeast sub-basin and KMSL11 is 102m from PZ78 in the northeast sub-basin. Overall, the general position and thickness of the potash horizon in the five locations confirmed the historical information and the presence of potash. The downhole grade profiles can be easily correlated between the twin drillholes and in all instances and lithological logging is consistent. No assay data was available for HH4 and therefore in this instance the results could not be directly compared to KMSL11 · Golder conducted an audit of the stratigraphic and lithological data. Intersections were used for stratigraphic modelling and were used to confirm the existence of the potash-bearing horizon. All changes made to structural interpretations have been recorded by Golder. No changes to analytical data (results or intervals) were made as these represent the original data as analysed. Analytical data has been assigned (weighted) to represent the revised structural intervals. · In 2016 and subsequently in 2018 Emmerson resurveyed all the drill collars that could still be found over the Khemisset Basin. The results show that some of the drillholes were found up to 2,175.5 m from the original BRPM collar positions which gives low confidence to the historical collars that could not be found and resurveyed. However, 67 % of the historical collars were located and 73 % of the discrepancies were less than 30 m which is not considered significant compared to the average drillhole spacing across the Emmerson licences. There remain 45 of the original 137 drillholes that could not be resurveyed and therefore some uncertainty remains over the collar coordinates. · Previously, SRK randomly selected 14 drillholes to compare the original scanned information with the digital database. The collar co-ordinates, lithology data and analysis results were checked, and in all cases no discrepancies were found. This gives high confidence to the compilation of the historical database used for the resource estimate. · The data verification has led to increased confidence in the historical database upon which the Mineral Resource Estimate is based.
Location of data points	· There is no information in the PKB summary drill logs on how the drillhole collars were surveyed but these documents do describe the co-ordinates are given in the Merchich North Lambert Maroc system. The PKB drillhole collars have several sources of information collected from historical documents and through recent surveying. The first set of co-ordinates (BRPM-MDPA) are shown typed in the front of the scanned drillhole log where it is available. The second set of co-ordinates (ONHYM) were supplied to Emmerson from historical drilling reports held by ONHYM. The third set of co-ordinates are from handheld GPS surveys completed by Emmerson in 2016 of collars that could still be located. PKB-1, PKB-2, PKB-6 and PKB-8 were located and resurveyed by Emmerson, initially by handheld GPS, and then by differential GPS. These drillholes were located between 3 m and 547 m from their original BRPM-MDPA positions and between 3 m and 85 m from the ONHYM locations. Where drillholes could not be found, the ONHYM locations were used preferentially over the original BRPM-MDPA positions. Of the four PKB holes in the Emmerson licences, only PKB-2 and PKB-6 were located and resurveyed. · Similarly, there is no information in the PZ summary drill logs on how the drillhole collars were surveyed apart from a reference, in some cases, that the collar elevations were estimated from the Khemisset topographic map (1:50,000 scale). The co-ordinates are also given in the Merchich North Lambert Maroc co-ordinate system and the drill collars have various different co-ordinates from different sources. The sources for the co-ordinates are the three described for the PKB series. · Historical borehole coordinates and collar elevations have been compiled by Emmerson from several sources, including BRPM and ONHYM survey reports/borehole logs, and handheld GPS coordinates previously taken. In 2017 and 2018, Emmerson conducted re-surveying to validate collar coordinates by attempting to identify historical boreholes in the field resulting in corrections to 67% of original borehole coordinates; 92 of the previous 137 boreholes in the database. The remaining 45 boreholes could not be found and remain unchanged, with coordinates sourced from original BRPM reports. Golder has subsequently conducted a review of all available coordinate data and re-calculated the displacements between original and re-surveyed coordinates, which range from 0.10m to 2,175.51m, with 73% showing 30m or less, and 43% with 10m or less. The largest discrepancies were found within the Central and Southwest sub-basins or outside the Emmerson license areas. · The KMSL drillhole collars were surveyed by handheld GPS, then differential GPS in the Merchich North Lambert Maroc co-ordinate system. · The KMSL drillholes were also surveyed for downhole deviation. There is no information on the downhole survey of the historical drillholes, so they have been assumed vertical. The nature of deep drilling is such that holes over a depth of 300 m are likely to deviate significantly from the vertical. However, relative to the space of the drillholes, between 0.5 km and 4 km, this will insignificantly affect the location of the sample points. · No detailed topographic surveys have been undertaken across the Khemisset Basin. Therefore, publically available Advanced Spacebourne Thermal Emission and Reflection Radiometer (ASTER) data, year 2000, has been use as the source of the topography for the work completed to date. · After the coordinate corrections, boreholes showed discrepancies ranging from +13.0m to -37.8m compared to the topography data, dropping to +7.4m to -5.0m in the Northeast sub-basin. KMSL drillhole coordinates showed discrepancies of within 2m of the topography data which gives confidence in the reliability of the dataset. For geological modelling, all boreholes were registered to the topography surface.
Data spacing and distribution	· The combination of PKB and PZ drillholes are distributed across the Khemisset basin, and in particular the Emmerson licences, at an approximate grid spacing of 3 km. A closer grid spacing of 1,500 m covers the main potash body south of Khemisset town and the drilling is as close as 500 m within the north deposit under and around Khemisset town. · Following the infill drilling programme in 2019, spacings in the Northeast sub-basin has reduced to 1.0-1.5km. · The drill spacing has accurately defined the extents of the potash mineralisation which into four deposit areas, the central north Khemisset sub-basin, the central Khemisset sub-basin, the Souk Jmaâ (southwest) sub-basin and the Oued Beht (northeast) sub-basin. · The drilling has also defined areas of low and high grade within the basin, and several potash layers. These have not been correlated in the geological modelling due to a lack of available historical geophysical logging which could help map these distinct layers between drillholes. However, these layers can be observed within the KMSL drillholes with the use of downhole geophysical logs which are up to 10 km apart, suggesting the mineralisation is very consistent within and between the separate sub-basins. · Historical 2D seismic surveys completed across the central Khemisset sub-basin suggest that the drillhole spacing is not close enough at 3 km to constrain major faults. · In 2018, Emmerson commissioned Geocon Co. Ltd ("Geocon") to conduct a further 69km of 2D seismic surveying across the Khemisset deposit. The data comprises 10, 2D Mini-SOSIE lines that have been processed and interpreted by Velseis Processing (Pty) Ltd ("Velseis"). Seismic data was processed, including depth conversion from two-way time, and used for the interpretation of key stratigraphic horizon reflectors and structural features. The interpretations made by Velseis were subsequently reviewed and updated by Emmerson. Whilst the interpretations of reflector horizons have not been used in the geological model by Golder, they have been used to constrain a basin boundary fault in the south of the northeast sub-basin. The seismic data also provides additional information to support interpretations of basin formation, geological deposition and potential fault structures across the wider deposit. · The current data spacing across the deposit is considered to support the declaration of Indicated and Inferred Mineral Resources.
Orientation of data in relation to geological structure	· The drilling was orientated vertically to intersect as close to the true thickness of the sub-horizontal potash unit. · There is one instance of known faulting intersecting KMSL2 which has displaced the top of the potash horizon and decreased the thickness. It is not clear if this has occurred in the historical drillholes as it has not been logged. However, local variations and faulting can have a big influence over the volume of mineralisation cases such as this where it is thin and extensive with wide spaced drilling. As KMSL2 is a twin, this will not expect to materially affect the thickness or extent of the potash mineralisation.
Sample security	· No information is available regarding sample handling, transport and security in the historical holes. As the exploration was conducted by the state organisation, Bureau de Recherches et de Participation Minières (BRPM), there is limited potential for disturbance or tampering of any kind. · The KMSL samples were stored in plastic drums in a safe container at the Emmerson field offices. There is 24-hour security on the site. The samples are couriered by DHL to the sample preparation laboratory (ALS) in Seville, Spain. The pulps are then also couriered to the analytical laboratories by DHL.
Audits or reviews	· Golder reviewed the sampling and logging as part of the Resource Update. The procedures were set up initially by Enrique Sanz, an Exploration Geologist from Geomnia in agreement with Christiano Santos Goncalves, Golder Competent Person. · Golder has conducted an audit of the structural (geological), and analytical datasets provided by Emmerson to ensure interpretation and sampling methods were consistent and reliable. · In consultation with Emmerson, specific changes were made to both datasets to ensure consistency across all boreholes and to maintain compatibility with geological modelling software.

Criteria

Commentary

Sampling techniques

· Samples were obtained by core sampling with all drilling of the potash unit fully cored.

· The PKB drillholes obtained core samples by double tube core drilling or trepan drilling. Trepan drilling is a technique used for large diameter holes where a ring at the periphery of the hole is destructively drilled, leaving a solid core centre for sampling. The PZ drillholes and Emmerson drillholes cored the potash by diamond drilling, Emmerson by HQ double tube through the potash.

· Geophysical logging was completed for natural gamma on the PKB drillholes and for density. The geophysical logs for these drillholes are unavailable and it is not stated if the PZ drillholes were also geophysically logged. Emmerson logged the full drillhole for natural gamma, and caliper. A smaller sub-section containing the potash unit was then logged in detail with the acoustic televiewer, and for resistivity and self-potential. The geophysical logging was conducted by International Geophysical Technology, S.L in 2016 (KMSL1 to KMSL3), and GeoAtlas of Morocco in 2019 (KMSL4 to KMSL12). Resistivity and self-potential was not completed on KMSL-3. The geophysical tools are calibrated off site apart from the caliper which was calibrated on site using the PQ drill rods. The consistencies of the geophysical outputs indicate no material bias and are seen to accurately characterise the individual potash unit and potash seam correlation.

· Specific documentation of sampling and testing objectives and procedures for the PKB and PZ series (completed between 1955 and 1958 and 1962 and 1969 respectively) are unavailable. However, from analysis of the sample intervals and drillhole logs it can be deduced that the PKB drillholes were sampled to lithological boundaries and/or the natural gamma logs were used to guide the sample selection. The PZ series indicates that samples were taken above and below the main potash units in order to accurately define them.

· All potash seams were fully sampled where they were intersected. In the PZ drilling, where the potash seam was partially intersected or the drillhole did not reach the appropriate depth, a wedge was used to drill a daughter hole in order to gain a full intersection.

· The KMSL drillholes were sampled to lithological and mineralogical boundaries, with sample lengths varying between 0.01 m and 3.13 m. The PKB sample lengths vary between 0.1 m and 2.83 m, and PZ between 0.06 m and 3.58 m.

· KMSL1 was point sampled for semi-quantitative XRD analysis. The sample locations were identified to represent all the different lithologies in, above and below the potash horizon.

Drilling techniques

· The PKB series were cased through the Miocene and alluvial sediments and open hole drilled by tricone with drill bits ranging from 15.88 cm to 21.59 cm in diameter. Salient intervals in this section were selectively cored by double tube diamond drilling or Trepan drilling in order to obtain intact rock samples of the units. Deviations were drilled to obtain full core samples of the potash unit where these were not intersected in the initial hole. The holes were drilled vertically.

· The PZ series were drilled vertically. There is no available information on the drilling methods of this series, but the potash unit is expected to be cored for the intervals where there is sampling and chemical analysis available.

· The KMSL series were drilled vertically. Mud rotary drilling was used to collar the hole through the Miocene and alluvial sediments which was then cased to between 20 m and 30 m depth. Mud rotary drilling with fresh water was used to drill to the Basalt Formation with selective use of PQ diamond drilling to obtain core from the different geological formations. The holes were then diamond drilled at HQ diameter using a CaCl₂ saturated mud (250-280 g of Cl/litre) to prevent dissolution of the salts and enable maximum recovery. Once retrieved from the core barrel the core was cut into 1 m pieces with a diamond saw using a saturated CaCl₂ brine for the salt units, photographed, then covered in plastic wrap to prevent exposure to moisture.

Drill sample recovery

· Core recovery is summarised in the PKB logs, by geological unit and drilling method, and is greater than 90% within the potash salt unit. There is no information in the PZ logs on core recovery, and it was not recorded for the KMSL holes.

· Golder reviewed the geological database provided by Emmerson for instances where core loss was recorded for evaluation against modelled horizons, with only a limited number of comments found. Historically, it has been common to only record core loss where it occurs, rather than confirming no core loss as with modern day best practice. Core loss comments were used to calculate the percentage recovery within modelled potash horizons.

· No core recovery information was available from KMSL1 to KMSL3, although it was reported to be high. Core recovery information from KMSL4 to KMSL12 was provided and reviewed by Golder and shown to average above 98% within the potash horizon, lowest in KMSL6 at 87%.

· PZ35 and PZ47 were reported to have low core recovery from the TMZ horizon; 18% and 5% respectively and were rejected as Points of Observation by Golder.

· Deviations were drilled in the historical holes to ensure the potash horizon was totally recovered where it was not cored in the original drilling.

Logging

· The PKB drillholes have summary lithological logs of the major lithological units, any significant changes within these units and the boundaries of the potash horizon including description of the main potash minerals where they could be visually identified. General dip measurements are recorded for the lower salt unit. No drillhole logs are available for PKB-7, PKB-8 and PKB-9.

· The PZ drillholes have summary lithological logs recording the same information as the PKB series. No drillhole logs are available for PZ45 and PZ116, and there is incomplete information for drillholes PZ24, PZ50 and PZ121.

· The KMSL drillholes were photographed, and lithologically logged. The logs were depth corrected using the downhole geophysical information to ensure they were as accurate as possible.

· Within the total database including the drillholes outside of Emmerson's licences, approximately 98% of the sampled intersections have been logged. Only PZ116 of the 68 drillholes within the Emmerson licences does not have a lithological log of the sampled intersection, approximately 0.1% of the Emmerson sampled intersections (188.43 m). PZ116 lies at the northeastern edge of the deposit. Previous reports and maps by Touhami show that this drillhole was barren, however, a list of drillhole intercepts provided by ONHYM indicates there is a potash horizon of approximately 1.8 m at over 10% K₂O. This conflicting information needs to be verified by future drilling.

Sub-sampling techniques and sample preparation

· All drillholes were orientated vertically to perpendicularly intersect the sub-horizontal potash horizon. This ensured that the samples represented close to the true thickness of the potash unit and are appropriate for characterising the grade and mineralogical variability within the horizon.

· No information on further sample preparation is available for the historical samples. In several instances samples were combined after initial analysis for %K₂O. However, it is not stated if full core or split core was sent for analysis.

· The KMSL core was split in half by a diamond core saw using a saturated CaCl₂ brine. The sample intervals were then marked up on the core for further cutting, then weighed and vacuum packed in a plastic sample bag. The samples were sent for preparation at ALS in Seville, Spain. The whole sample was dried and crushed to 70% passing -2 mm then a 250 g fraction was pulverised to 85% passing -75 µm.

· Emmerson inserted three internal pulp duplicates, five external pulp duplicates, three blank samples and three standard samples into the sample stream for KMSL1 to KMSL3 to assess the quality control of the analytical laboratory.

· 51 control samples were introduced into the 2019 exploration programme, including 11 duplicates, 11 blanks and 11 standard samples. 15 check samples were also performed, with nine being re-tested by the original SGS laboratory and six being tested at a second check laboratory, SRC. Golder reviewed all control sample results from the 2019 exploration programme and consider the results to demonstrate good reliability and repeatability between the primary SGS and secondary SRC check laboratory.

· Both ALS and SGS are internationally accredited and well-regarded laboratories.

· The sample techniques used in the KMSL exploration series are considered appropriate for the type of lithologies and mineralisation sampled. In addition, the quality control samples provide a duplicate check on 15% of the sample population with other control samples, over 25% which is considered good. These techniques have ensured samples representative of the potash mineralisation have been taken in the KMSL and historical drillholes.

Quality of assay data and laboratory tests

· The PKB drillholes obtained 19 samples from six holes which were analysed for %K₂O at the M.Pellet BRPM laboratory. The analytical technique is not specified in the available historical information.

· The PZ drillholes analysed 522 samples for %K₂O through an unspecified technique. 141 of these samples were also analysed for %Na⁺, %Ca²⁺, %Mg²⁺, %Cl^-, and %SO₄^2-.

· The Emmerson samples were analysed by XRF (for metals and other major constituents), ICP-OES (soluble elements) and gravimetric analysis (insoluble residue) at ALS in Loughrea, Ireland. SRC Geoanalytical laboratories in Canada were used as a control laboratory and analysed five pulp duplicate samples. The analysis methods were soluble and insoluble digestion and ICP-OES. Both laboratories are internationally accredited.

· 10 Emmerson point samples were analysed by semi-quantitative XRD at the National Museum of Natural History, Madrid, Spain, (CSIC).

· The results of the quality control samples from the KMSL data (blanks, standards and duplicates) show good accuracy and repeatability in the analysis and preparation of the samples with no contamination being introduced in the process.

Verification of sampling and assaying

· No historical core from the PKB or PZ series was available for sampling and assaying which meant verification of the majority of the data was difficult.

· Verification of the historical data and database, which constitutes 98% of the data used in the resource estimate, has been completed through Emmerson's recent twin drilling of five historical holes, resurveying of historical drillhole collars, and a check between the scanned BRPM summary logs and the digitised database for 10% of the data (14 drillholes) was performed by SRK.

· The Emmerson "twin" holes varied in distance from their nearest historical collars but were positioned to check drillholes in five strategic locations. KMSL1 is 300 m east of PZ88 in the, KMSL2 is 20 m southwest of PZ111 located in the central Khemisset sub-basin, KMS-3 is 90 m north of PZ3 in the north central Khemisset sub-basin, KMSL10 is 30m from HH4 in the northeast sub-basin and KMSL11 is 102m from PZ78 in the northeast sub-basin. Overall, the general position and thickness of the potash horizon in the five locations confirmed the historical information and the presence of potash. The downhole grade profiles can be easily correlated between the twin drillholes and in all instances and lithological logging is consistent. No assay data was available for HH4 and therefore in this instance the results could not be directly compared to KMSL11

· Golder conducted an audit of the stratigraphic and lithological data. Intersections were used for stratigraphic modelling and were used to confirm the existence of the potash-bearing horizon. All changes made to structural interpretations have been recorded by Golder. No changes to analytical data (results or intervals) were made as these represent the original data as analysed. Analytical data has been assigned (weighted) to represent the revised structural intervals.

· In 2016 and subsequently in 2018 Emmerson resurveyed all the drill collars that could still be found over the Khemisset Basin. The results show that some of the drillholes were found up to 2,175.5 m from the original BRPM collar positions which gives low confidence to the historical collars that could not be found and resurveyed. However, 67 % of the historical collars were located and 73 % of the discrepancies were less than 30 m which is not considered significant compared to the average drillhole spacing across the Emmerson licences. There remain 45 of the original 137 drillholes that could not be resurveyed and therefore some uncertainty remains over the collar coordinates.

· Previously, SRK randomly selected 14 drillholes to compare the original scanned information with the digital database. The collar co-ordinates, lithology data and analysis results were checked, and in all cases no discrepancies were found. This gives high confidence to the compilation of the historical database used for the resource estimate.

· The data verification has led to increased confidence in the historical database upon which the Mineral Resource Estimate is based.

Location of data points

· There is no information in the PKB summary drill logs on how the drillhole collars were surveyed but these documents do describe the co-ordinates are given in the Merchich North Lambert Maroc system. The PKB drillhole collars have several sources of information collected from historical documents and through recent surveying. The first set of co-ordinates (BRPM-MDPA) are shown typed in the front of the scanned drillhole log where it is available. The second set of co-ordinates (ONHYM) were supplied to Emmerson from historical drilling reports held by ONHYM. The third set of co-ordinates are from handheld GPS surveys completed by Emmerson in 2016 of collars that could still be located. PKB-1, PKB-2, PKB-6 and PKB-8 were located and resurveyed by Emmerson, initially by handheld GPS, and then by differential GPS. These drillholes were located between 3 m and 547 m from their original BRPM-MDPA positions and between 3 m and 85 m from the ONHYM locations. Where drillholes could not be found, the ONHYM locations were used preferentially over the original BRPM-MDPA positions. Of the four PKB holes in the Emmerson licences, only PKB-2 and PKB-6 were located and resurveyed.

· Similarly, there is no information in the PZ summary drill logs on how the drillhole collars were surveyed apart from a reference, in some cases, that the collar elevations were estimated from the Khemisset topographic map (1:50,000 scale). The co-ordinates are also given in the Merchich North Lambert Maroc co-ordinate system and the drill collars have various different co-ordinates from different sources. The sources for the co-ordinates are the three described for the PKB series.

· Historical borehole coordinates and collar elevations have been compiled by Emmerson from several sources, including BRPM and ONHYM survey reports/borehole logs, and handheld GPS coordinates previously taken. In 2017 and 2018, Emmerson conducted re-surveying to validate collar coordinates by attempting to identify historical boreholes in the field resulting in corrections to 67% of original borehole coordinates; 92 of the previous 137 boreholes in the database. The remaining 45 boreholes could not be found and remain unchanged, with coordinates sourced from original BRPM reports. Golder has subsequently conducted a review of all available coordinate data and re-calculated the displacements between original and re-surveyed coordinates, which range from 0.10m to 2,175.51m, with 73% showing 30m or less, and 43% with 10m or less. The largest discrepancies were found within the Central and Southwest sub-basins or outside the Emmerson license areas.

· The KMSL drillhole collars were surveyed by handheld GPS, then differential GPS in the Merchich North Lambert Maroc co-ordinate system.

· The KMSL drillholes were also surveyed for downhole deviation. There is no information on the downhole survey of the historical drillholes, so they have been assumed vertical. The nature of deep drilling is such that holes over a depth of 300 m are likely to deviate significantly from the vertical. However, relative to the space of the drillholes, between 0.5 km and 4 km, this will insignificantly affect the location of the sample points.

· No detailed topographic surveys have been undertaken across the Khemisset Basin. Therefore, publically available Advanced Spacebourne Thermal Emission and Reflection Radiometer (ASTER) data, year 2000, has been use as the source of the topography for the work completed to date.

· After the coordinate corrections, boreholes showed discrepancies ranging from +13.0m to -37.8m compared to the topography data, dropping to +7.4m to -5.0m in the Northeast sub-basin. KMSL drillhole coordinates showed discrepancies of within 2m of the topography data which gives confidence in the reliability of the dataset. For geological modelling, all boreholes were registered to the topography surface.

Data spacing and distribution

· The combination of PKB and PZ drillholes are distributed across the Khemisset basin, and in particular the Emmerson licences, at an approximate grid spacing of 3 km. A closer grid spacing of 1,500 m covers the main potash body south of Khemisset town and the drilling is as close as 500 m within the north deposit under and around Khemisset town.

· Following the infill drilling programme in 2019, spacings in the Northeast sub-basin has reduced to 1.0-1.5km.

· The drill spacing has accurately defined the extents of the potash mineralisation which into four deposit areas, the central north Khemisset sub-basin, the central Khemisset sub-basin, the Souk Jmaâ (southwest) sub-basin and the Oued Beht (northeast) sub-basin.

· The drilling has also defined areas of low and high grade within the basin, and several potash layers. These have not been correlated in the geological modelling due to a lack of available historical geophysical logging which could help map these distinct layers between drillholes. However, these layers can be observed within the KMSL drillholes with the use of downhole geophysical logs which are up to 10 km apart, suggesting the mineralisation is very consistent within and between the separate sub-basins.

· Historical 2D seismic surveys completed across the central Khemisset sub-basin suggest that the drillhole spacing is not close enough at 3 km to constrain major faults.

· In 2018, Emmerson commissioned Geocon Co. Ltd ("Geocon") to conduct a further 69km of 2D seismic surveying across the Khemisset deposit. The data comprises 10, 2D Mini-SOSIE lines that have been processed and interpreted by Velseis Processing (Pty) Ltd ("Velseis"). Seismic data was processed, including depth conversion from two-way time, and used for the interpretation of key stratigraphic horizon reflectors and structural features. The interpretations made by Velseis were subsequently reviewed and updated by Emmerson. Whilst the interpretations of reflector horizons have not been used in the geological model by Golder, they have been used to constrain a basin boundary fault in the south of the northeast sub-basin. The seismic data also provides additional information to support interpretations of basin formation, geological deposition and potential fault structures across the wider deposit.

· The current data spacing across the deposit is considered to support the declaration of Indicated and Inferred Mineral Resources.

Orientation of data in relation to geological structure

· The drilling was orientated vertically to intersect as close to the true thickness of the sub-horizontal potash unit.

· There is one instance of known faulting intersecting KMSL2 which has displaced the top of the potash horizon and decreased the thickness. It is not clear if this has occurred in the historical drillholes as it has not been logged. However, local variations and faulting can have a big influence over the volume of mineralisation cases such as this where it is thin and extensive with wide spaced drilling. As KMSL2 is a twin, this will not expect to materially affect the thickness or extent of the potash mineralisation.

Sample security

· No information is available regarding sample handling, transport and security in the historical holes. As the exploration was conducted by the state organisation, Bureau de Recherches et de Participation Minières (BRPM), there is limited potential for disturbance or tampering of any kind.

· The KMSL samples were stored in plastic drums in a safe container at the Emmerson field offices. There is 24-hour security on the site. The samples are couriered by DHL to the sample preparation laboratory (ALS) in Seville, Spain. The pulps are then also couriered to the analytical laboratories by DHL.

Audits or reviews

· Golder reviewed the sampling and logging as part of the Resource Update. The procedures were set up initially by Enrique Sanz, an Exploration Geologist from Geomnia in agreement with Christiano Santos Goncalves, Golder Competent Person.

· Golder has conducted an audit of the structural (geological), and analytical datasets provided by Emmerson to ensure interpretation and sampling methods were consistent and reliable.

· In consultation with Emmerson, specific changes were made to both datasets to ensure consistency across all boreholes and to maintain compatibility with geological modelling software.

Criteria	Commentary
Mineral tenement and land tenure status	· Golder did not perform any legal due diligence on the status of the tenements and relies on Emmerson information. · Golder acknowledge there are small gaps and overlaps between some of the licenses with which should not present a material impact on the Resource Inventory and this should be further investigated for future studies. · New license was request to the Moroccan government amalgamating part of the existing licenses and dismissing others at the south-east portion of the Khemisset basin. · Exploration and mining licenses details are available at the Competent Person's Report.
Exploration done by other parties	· The Khemisset basin was historically explored for potash from the 1950s by Bureau de Recherches et de Participation Minières (BRPM) in conjunction with Mines domaniales des potasse d'Alsace (MDPA) and then from the 1960s onwards by BRPM with assistance from UNDP. The exploration works included surface geophysical surveys, 2D seismic surveys and surface drilling. · Geophysical surveys across the basin were conducted at a regional scale in the 1950s as part of a country wide study done by the Societe Cherifienne des Petroles Prérides. The survey was completed on a coarse grid of >1 km spacing. The results of the survey indicate a slight negative anomaly in the Khemisset region, but the resolution of the survey was not high enough to define drilling targets. Further telleric and magnetic studies were also completed at the same regional scale, but the same resolution problem exists in using this data for further exploration. · A 2D seismic campaign was performed by Bureau de Recherches et de Participation Minières (BRPM) jointly with Mines domaniales des potasse d'Alsace (MDPA). The seismic survey was approximately 100 km consisting of one longitudinal profile and three transverse profiles in the central area of the Khemisset basin and an additional transverse profile in the Oued Beht Valley. The length of the profiles totals approximately 17.3 km and taken from "Mine et Geologie Report, 1965" authored by the Royaume du Maroc Ministere de l'Industrie et des Mines. The key reflectors identified in this study were the base of the Miocene, the top of the upper salt, and the top of the basalt. · There were two drilling campaigns completed across the basin before 2016. The first is the Potasses Khemisset Bataille (PKB) series drilled between 1955 and 1958, comprising 9 scout holes, drilled to between 560 m and 1302 m depth and totaling 7,525 m. Four drillholes in this series lie within Emmerson's licenses (PKB-2, PKB-3, PKB-6, PKB-9) of which two (PKB-2, PKB-3) intersected potash. Three other PKB drillholes intersected the prospective potash seam outside the Emmerson licenses, PKB-1, PKB-4 and PKB-5. · The second drilling campaign, the Potasses Zemour (PZ) series was completed between 1962 and 1969. This comprised 124 drillholes totaling approximately 75,000 m. 61 of the drillholes lie in the Emmerson licenses comprising approximately 35,000 m. 35 of these drillholes successfully intersected the potash horizon. Another 44 drillholes intersected potash outside the Emmerson licenses. The PZ drilling has an average grid spacing of 3 km over the majority of the basin and Emmerson's licenses. In the central area, the basin has been infill drilled to approximately 1,500 m. · The results of the historical drilling have been evaluated in conjunction with the recent drilling for the purposes of this evaluation.
Geology	· The Khemisset potash basin is a half-graben bounded by Paleozoic uplifts of Moroccan Meseta, a highly deformed quartzite schist. The basin is approximately 60 km long and 20 km wide and bounded by mainly northeast-southwest oriented faults. The Late Triassic deposits only outcrop in the southwestern portion of the Khemisset Basin, dip gently (0-10 degrees) towards the northeast and are overlain by Early Jurassic marine dolostones and dolomitic limestones, or directly by Miocene marls and conglomerates. The entire sequence has a maximum thickness of 1,000 m in the axial part of the basin · The Khemisset basin is split into three distinct sub-basins; Souk Jmaâ (southwest), Central Khemisset (central and north), and Oued Beht (northeast). They are separated by sterile areas where potash salts are absent or reduced to thin millimetre or centimetre horizons. · The southwest deposit (Souk Jmaâ sub-basin) varies in thickness between 0.4 m and 5.4 m with an average thickness of 3.0 m from eight intersection. The %K₂O varies between 7 % and 12 % with an average grade of 9.4%. It covers an area of approximately 25 km². The potash horizon is generally flat-lying, dipping slightly to the northeast 1-3 degrees and occurs at between 500 m and 600 m below surface with no interpreted faulting. The potash minerals in this deposit are a central carnallite zone surrounded by sylvinite. · The central deposit (Central Khemisset sub-basin) varies in thickness between 1.1 m and 9.4 m with an average thickness of 3.7 m from 20 intersections. The %K₂O varies between 6% and 16% with an average grade of 9.5%. It covers an area of approximately 28 km². The potash horizon dips gently to the northeast up to 8 degrees and occurs at between 430 m and 960 m below surface. The deposit contains a central carnallite zone that gradually changes towards the southwest and northwest to sylvinite. A mixture of sylvinite and carnallite is present in the intermediate zone. · The north deposit (Central Khemisset sub-basin) varies in thickness between 0.3 m and 8.2 m with an average thickness of 3.0 m from 25 intersections. The %K₂O varies between 5% and 17% with an average grade of 10%. It covers an area of approximately 3 km². The potash horizon dips gently to the northeast up to 7 degrees and occurs at between 490 m and 800 m below surface mainly under Khemisset city. The main potash mineral in this deposit is sylvinite but at the southern edge it changes to a mixture of carnallite and sylvinite. · The northeast deposit (Oued Beht sub-basin) varies in thickness between 0.2 m and 5.2 m with an average thickness of 1.7 m from 28 intersections. The %K₂O varies between 4% and 15% with an average grade of 9%. It covers an area of approximately 53 km². There is one fault interpreted and modelled within this area, although it is likely there is some faulting parallel to other structures (oriented northeast southwest) in this deposit. The potash horizon dips gently to the northeast up to 6 degrees and it occurs between 390 m and 1,170 m below surface. The distribution of potash minerals in this sub-basin is more complex than the others with a mixture of carnallite, rinneite and sylvite present. The central area of the deposit contains a mixture of carnallite and rinneite mineralization towards the west and sylvinite and rinneite towards the east. The northern area is characterized by a mixture of carnallite and rinneite and the south and southwest edges by zones of sylvinite and rinneite respectively. · The main potash minerals in the Khemisset deposits are carnallite, sylvinite and rinneite. The relative concentrations of these within the potash horizon vary. The mineralisation is also characterised by a very low insoluble fraction, rarely above 5%.
Drill hole Information	· This is information is not applicable or included here as this report concerns the reporting of Mineral Resources and not only Exploration Results.
Data aggregation methods	· This is information is not applicable or included here as this report concerns the reporting of Mineral Resources and not only Exploration Results.
Relationship between mineralisation widths and intercept lengths	· This is information is not applicable or included here as this report concerns the reporting of Mineral Resources and not only Exploration Results.
Diagrams	· This is information is not applicable or included here as this report concerns the reporting of Mineral Resources and not only Exploration Results.
Balanced reporting	· This is information is not applicable or included here as this report concerns the reporting of Mineral Resources and not only Exploration Results.
Other substantive exploration data	· This is information is not applicable or included here as this report concerns the reporting of Mineral Resources and not only Exploration Results.
Further work	· This is information is not applicable or included here as this report concerns the reporting of Mineral Resources and not only Exploration Results.

Criteria

Commentary

Mineral tenement and land tenure status

· Golder did not perform any legal due diligence on the status of the tenements and relies on Emmerson information.

· Golder acknowledge there are small gaps and overlaps between some of the licenses with which should not present a material impact on the Resource Inventory and this should be further investigated for future studies.

· New license was request to the Moroccan government amalgamating part of the existing licenses and dismissing others at the south-east portion of the Khemisset basin.

· Exploration and mining licenses details are available at the Competent Person's Report.

Exploration done by other parties

· The Khemisset basin was historically explored for potash from the 1950s by Bureau de Recherches et de Participation Minières (BRPM) in conjunction with Mines domaniales des potasse d'Alsace (MDPA) and then from the 1960s onwards by BRPM with assistance from UNDP. The exploration works included surface geophysical surveys, 2D seismic surveys and surface drilling.

· Geophysical surveys across the basin were conducted at a regional scale in the 1950s as part of a country wide study done by the Societe Cherifienne des Petroles Prérides. The survey was completed on a coarse grid of >1 km spacing. The results of the survey indicate a slight negative anomaly in the Khemisset region, but the resolution of the survey was not high enough to define drilling targets. Further telleric and magnetic studies were also completed at the same regional scale, but the same resolution problem exists in using this data for further exploration.

· A 2D seismic campaign was performed by Bureau de Recherches et de Participation Minières (BRPM) jointly with Mines domaniales des potasse d'Alsace (MDPA). The seismic survey was approximately 100 km consisting of one longitudinal profile and three transverse profiles in the central area of the Khemisset basin and an additional transverse profile in the Oued Beht Valley. The length of the profiles totals approximately 17.3 km and taken from "Mine et Geologie Report, 1965" authored by the Royaume du Maroc Ministere de l'Industrie et des Mines. The key reflectors identified in this study were the base of the Miocene, the top of the upper salt, and the top of the basalt.

· There were two drilling campaigns completed across the basin before 2016. The first is the Potasses Khemisset Bataille (PKB) series drilled between 1955 and 1958, comprising 9 scout holes, drilled to between 560 m and 1302 m depth and totaling 7,525 m. Four drillholes in this series lie within Emmerson's licenses (PKB-2, PKB-3, PKB-6, PKB-9) of which two (PKB-2, PKB-3) intersected potash. Three other PKB drillholes intersected the prospective potash seam outside the Emmerson licenses, PKB-1, PKB-4 and PKB-5.

· The second drilling campaign, the Potasses Zemour (PZ) series was completed between 1962 and 1969. This comprised 124 drillholes totaling approximately 75,000 m. 61 of the drillholes lie in the Emmerson licenses comprising approximately 35,000 m. 35 of these drillholes successfully intersected the potash horizon. Another 44 drillholes intersected potash outside the Emmerson licenses. The PZ drilling has an average grid spacing of 3 km over the majority of the basin and Emmerson's licenses. In the central area, the basin has been infill drilled to approximately 1,500 m.

· The results of the historical drilling have been evaluated in conjunction with the recent drilling for the purposes of this evaluation.

Geology

· The Khemisset potash basin is a half-graben bounded by Paleozoic uplifts of Moroccan Meseta, a highly deformed quartzite schist. The basin is approximately 60 km long and 20 km wide and bounded by mainly northeast-southwest oriented faults. The Late Triassic deposits only outcrop in the southwestern portion of the Khemisset Basin, dip gently (0-10 degrees) towards the northeast and are overlain by Early Jurassic marine dolostones and dolomitic limestones, or directly by Miocene marls and conglomerates. The entire sequence has a maximum thickness of 1,000 m in the axial part of the basin

· The Khemisset basin is split into three distinct sub-basins; Souk Jmaâ (southwest), Central Khemisset (central and north), and Oued Beht (northeast). They are separated by sterile areas where potash salts are absent or reduced to thin millimetre or centimetre horizons.

· The southwest deposit (Souk Jmaâ sub-basin) varies in thickness between 0.4 m and 5.4 m with an average thickness of 3.0 m from eight intersection. The %K₂O varies between 7 % and 12 % with an average grade of 9.4%. It covers an area of approximately 25 km². The potash horizon is generally flat-lying, dipping slightly to the northeast 1-3 degrees and occurs at between 500 m and 600 m below surface with no interpreted faulting. The potash minerals in this deposit are a central carnallite zone surrounded by sylvinite.

· The central deposit (Central Khemisset sub-basin) varies in thickness between 1.1 m and 9.4 m with an average thickness of 3.7 m from 20 intersections. The %K₂O varies between 6% and 16% with an average grade of 9.5%. It covers an area of approximately 28 km². The potash horizon dips gently to the northeast up to 8 degrees and occurs at between 430 m and 960 m below surface. The deposit contains a central carnallite zone that gradually changes towards the southwest and northwest to sylvinite. A mixture of sylvinite and carnallite is present in the intermediate zone.

· The north deposit (Central Khemisset sub-basin) varies in thickness between 0.3 m and 8.2 m with an average thickness of 3.0 m from 25 intersections. The %K₂O varies between 5% and 17% with an average grade of 10%. It covers an area of approximately 3 km². The potash horizon dips gently to the northeast up to 7 degrees and occurs at between 490 m and 800 m below surface mainly under Khemisset city. The main potash mineral in this deposit is sylvinite but at the southern edge it changes to a mixture of carnallite and sylvinite.

· The northeast deposit (Oued Beht sub-basin) varies in thickness between 0.2 m and 5.2 m with an average thickness of 1.7 m from 28 intersections. The %K₂O varies between 4% and 15% with an average grade of 9%. It covers an area of approximately 53 km². There is one fault interpreted and modelled within this area, although it is likely there is some faulting parallel to other structures (oriented northeast southwest) in this deposit. The potash horizon dips gently to the northeast up to 6 degrees and it occurs between 390 m and 1,170 m below surface. The distribution of potash minerals in this sub-basin is more complex than the others with a mixture of carnallite, rinneite and sylvite present. The central area of the deposit contains a mixture of carnallite and rinneite mineralization towards the west and sylvinite and rinneite towards the east. The northern area is characterized by a mixture of carnallite and rinneite and the south and southwest edges by zones of sylvinite and rinneite respectively.

· The main potash minerals in the Khemisset deposits are carnallite, sylvinite and rinneite. The relative concentrations of these within the potash horizon vary. The mineralisation is also characterised by a very low insoluble fraction, rarely above 5%.

Drill hole Information