Paladin Energy Ltd: Michelin Uranium Deposit, Labrador Updated
Mineral Resource
- Measured and Indicated Mineral Resource increased by 25% to
84.1Mlb U3O8
- Inferred Mineral Resources of 22.9Mlb U3O8
- Drilling successful in upgrading Mineral Resource Estimate
confidence
- Open pit portion Measured and Indicated grades increased by
36%
PERTH, WESTERN AUSTRALIA--(Marketwired - Jun 26, 2014) - Paladin
Energy Ltd (TSX:PDN)(ASX:PDN) ("Paladin" or the "Company") is
pleased to announce that a revised mineral resource estimate for
the Michelin Deposit (the "2014 Mineral Resource Estimate"),
effective 26 June 2014, conforming to both the JORC(2012) Code and
National Instrument 43-101 - Standards of Disclosure for
Mineral Projects of the Canadian Securities Administrators
("NI 43-101") has now been completed.
2014 Mineral Resources Estimate
The 2014 Mineral resources estimate for the Michelin Deposit was
successful in converting some 13.2Mlb U3O8 of previously Inferred
category material into the Measured and Indicated categories as
well as adding an additional 3.8Mlb U3O8 for a Measured and
Indicated mineral resource total of 84.1Mlb U3O8. Additional
mineral resources remaining in the Inferred category now stand at
22.9Mlb U3O8.
| Aurora Michelin Mineral Resource (2009)(1) |
Paladin 2014 Mineral Resource Estimate(2) |
| Open Pit portion Cut-off grade 200ppm |
Open Pit portion Cut-off grade 250ppm |
|
|
Tonnes |
Grade |
Pounds |
Volume |
Tonnes |
Grade |
Pounds |
|
Measured |
5,783,000 |
765 |
9,755,000 |
3,881,000 |
10,456,000 |
938 |
21,630,000 |
|
Indicated |
6,839,000 |
629 |
9,480,000 |
2,207,000 |
5,935,000 |
937 |
12,257,000 |
|
M + I |
12,622,000 |
691 |
19,235,000 |
6,089,000 |
16,391,000 |
938 |
33,887,000 |
|
Inferred |
3,393,000 |
326 |
2,442,000 |
614,000 |
1,641,000 |
1,343 |
4,860,000 |
| Underground portion Cut off grade 500ppm |
Underground portion Cut off grade 500ppm |
|
Measured |
1,289,000 |
1,165 |
3,310,000 |
1,894,000 |
5,113,814 |
1,104 |
12,450,466 |
|
Indicated |
16,170,000 |
1,251 |
44,582,000 |
5,925,000 |
15,996,185 |
1,072 |
37,790,503 |
|
M + I |
17,459,000 |
1,244 |
47,892,000 |
7,819,000 |
21,110,000 |
1,080 |
50,241,000 |
|
Inferred |
12,577,000 |
1,213 |
33,647,000 |
2,655,000 |
7,168,000 |
1,140 |
18,020,000 |
|
Combined |
|
|
|
Combined |
|
|
|
|
Measured |
7,072,000 |
838 |
13,065,000 |
5,775,000 |
15,570,000 |
993 |
34,080,000 |
|
Indicated |
23,009,000 |
1,066 |
54,062,000 |
8,132,000 |
21,932,000 |
1,035 |
50,048,000 |
|
M + I |
30,081 |
1,012 |
67,127,000 |
13,907,000 |
37,501,000 |
1,017 |
84,128,000 |
|
Inferred |
15,970,000 |
1,025 |
36,089,000 |
3,269,000 |
8,809,000 |
1,178 |
22,880,000 |
| Figures for volume, tonnes
and pounds are rounded to nearest thousand and may not
add. |
| Notes |
|
(1) |
These mineral resources are reported in a technical report prepared
by Aurora Energy Resources Inc. (Aurora) (acquired by Paladin in
February 2011) and authored by AMEC ERC Services, dated 1 August
2009, titled 'Michelin Uranium Project, Labrador, Canada NI 43-101
Technical Report on Preliminary Assessment' and filed on SEDAR.
This technical report was reviewed by David Princep and, following
the decision by the Nunatsiavut government to lift the moratorium
on uranium processing, Paladin considered these mineral resources
to be current mineral resources as defined in NI 43-101. |
|
|
|
(2) |
Effective date 26 June 2014 |
All historical data, both British Newfoundland Exploration
Limited (Brinex) from the 1970's and more recent Aurora data for
the period 2005 to 2008 has been entered into the geological
database and validated. The additional drilling that Paladin
completed in 2012 and 2013 has infilled some areas within the
previous mineral resource and has allowed for the creation of a
much more robust geological interpretation. The mineral resource
detailed above is broken down on a similar basis to the previous
mineral resource estimated by Aurora in 2009. The Open Pit (OP) and
Underground (UG) split is determined now to be approximately at
230m below surface (or 100m RL) following pit optimisation studies
using previous costs and a variety of uranium prices. This is
slightly lower (80m) than the boundary used in the previous
estimate.
The 2014 Mineral Resource Estimate is based on Multi Indicator
Kriging (MIK) of grade values with no top cuts; a variance
adjustment has been applied to the MIK estimates in order to more
appropriately address mining constraints and selectivity. The
cut-off grades of 250ppm U3O8 for open pit mineable material and
500ppm U3O8 for underground mineable material have been chosen
based on previous economic assessments of the deposit and likely
expected future uranium prices. The open pit cut-off grade was
increased from 200ppm to 250ppm to reflect the current and likely
near term uranium price and align with cut-off grades for the
Company's other projects. The open pit/underground transition
position was based on pit optimisations run at various uranium
prices using previously defined processing and mining costs. Other
than the probability that the deposit will be processed using both
open pit and conventional underground mining techniques no
additional modifying factors have been considered to date.
The classification of the 2014 Mineral Resource Estimate into
Measured, Indicated and Inferred Mineral Resource categories is
based on the global density of drilling in association with the
results from the validation of all historic data. As the deposit is
not drilled on a regular grid it is not possible to specify
particular drill spacing associated with any particular resource
category. Mineral resources in addition to those at the Michelin
Deposit for the Michelin Project are referred to under 'Additional
Potential' below.
Geological and Data Information
More detail on the modelling techniques and estimation
parameters used for the 2014 Mineral Resource Estimate can be found
in the additional information attached to this announcement. A NI
43-101 Technical Report for the Michelin deposit will be filed on
SEDAR in due course. All sampling, analytical and test data used in
this Mineral Resource Estimation has been verified by David Princep
B.Sc., FAusIMM(CP), an employee of Paladin and a Qualified Person
under NI 43-101.
Data for the 2014 Mineral Resource Estimate is based on a
combination of down hole logging (total gamma) and diamond drill
core sampling. Drill core samples were split on site and sent for
geochemical analysis at the ALS laboratory in Vancouver. Analysis
was based on pressed powder XRF for Uranium and Zirconium and a
four acid digest followed by atomic emission spectrometry for other
elements and are considered appropriate for the quantities and
style of mineralisation present. Down hole logging was conducted at
5cm intervals for gamma data. Drill core from the most recent
drilling programme was split using a core saw, during previous
programmes the core was split using a mechanical splitter, and
sampled at 1.0m lengths for the mineralised intervals plus at least
1-2m above and below.
Drilling for the project has been based exclusively on Diamond
Core with all holes from the most recent drilling programme down
hole surveyed for deviation and radiometric logs. As part of this
process a number of historic holes were re-logged where available.
The mineral resource remains substantially open along strike and at
depth though it does narrow in all directions. There are still
areas within the deposit which require infill drilling to either
increase the contained mineral resource pounds or effectively close
off the mineral resource. The estimate above does not use any of
the underground adit face sampling as the actual location of these
samples is subject to some debate.
The image below shows the drill collars from the current dataset
with historic Brinex and Aurora holes with the winter
(February/March) 2014 Paladin holes as triangles. For full details
on the 2014 drilling programme see the ASX announcement 'Positive
drilling results, Michelin Project, Labrador' released by the
Company on the 7th May 2014. Due to drilling conditions, in some
cases multiple drill holes may be drilled from one site and will
therefore appear as a single location. The image shows the Michelin
2014 Mineral Resource Estimate model and mineral resource
definition drilling with the grid shown being the Aurora drilling
grid. The adit area is indicted by the dense cluster of drill
collars and is located approximately along the 0mN grid line.
To view the figure accompanying this press release, please visit
the following link:
http://media3.marketwire.com/docs/954265.pdf
The mineralisation at Michelin occurs in a strongly deformed
package of intercalated finely and coarsely porphyritic
metavolcanic rocks of the Aillik group. These host rocks have a
rhyolite composition comprising potassium-feldspar, quartz with
minor plagioclase, biotite, magnetite and traces of apatite,
titanite and zircon. The Aillik group lithologies in the immediate
area also include metamorphosed mafic volcanics, banded siltstones
and volcanoclastic sediments. This volcano-sedimentary package has
been intruded by granites and granodiorites in the form of plutons,
sheets and dykes. The Michelin mineralised zone is about 1,200
metres long, 5-50 metres thick and has been drilled to a depth of
over 800 metres, and is open at depth and along strike. The thicker
core of the mineralisation plunges to the west. The Michelin host
rocks were subject to intense sodic metasomatism, this is displayed
by the replacement of potassium-feldspar by albite, and biotite by
sodic amphibole and sodic pyroxene. Furthermore, quartz phenocrysts
show dissolution textures and are partly replaced by albite.
ADDITIONAL POTENTIAL
The Michelin Deposit is still open along strike and at depth
and, due to the difficulty in drilling from lake based platforms,
still has a number of internal under-drilled areas. Drilling
programmes have already been designed to both infill and extend the
existing mineral resource. In addition there are also a number of
promising targets within the Michelin - Rainbow trend which are
actively being explored and are expected to contribute to the
economic viability of the project. Additional mineral resources for
other deposits within the Michelin project are detailed below.
|
Deposit |
Measured Mineral Resource |
Indicated Mineral Resource |
Inferred Mineral Resource |
|
Cut-off 0.05% & 0.02% U3O8 |
Mt |
Grade % |
t U3O8 |
Mt |
Grade % |
t U3O8 |
Mt |
Grade % |
t U3O8 |
|
Jacques Lake |
0.9 |
0.09 |
747 |
6.0 |
0.07 |
4,327 |
8.1 |
0.05 |
4,103 |
|
Rainbow |
0.2 |
0.09 |
193 |
0.8 |
0.09 |
655 |
0.9 |
0.08 |
739 |
|
Inda |
|
|
|
1.2 |
0.07 |
826 |
3.3 |
0.07 |
2,171 |
|
Nash |
|
|
|
0.7 |
0.08 |
564 |
0.5 |
0.07 |
367 |
|
Gear |
|
|
|
0.4 |
0.08 |
270 |
0.3 |
0.09 |
279 |
|
Total |
1.1 |
0.09 |
940 (2.1Mlb) |
9.1 |
0.07 |
6,642 (14.6Mlb) |
13.1 |
0.06 |
7,659 (16.9Mlb) |
The mineral resources for the satellite deposits are reported at
cut-off grades that contemplated underground (0.05% U3O8 cut-off)
and open pit (0.02% U3O8 cut-off) mining, based on preliminary
economic assumptions carried out by Aurora.
Information in the table above in relation to the Michelin
project area mineral resources was prepared and first disclosed
under the JORC Code 2004. It has not been updated since to comply
with JORC Code 2012 on the basis that the information that the
estimates are derived from has not materially changed since it was
last reported.
The updated 2014 Mineral Resource Estimate for the Michelin
Deposit has provided added confidence in the character of the
mineralisation with the significant increase in Measured and
Indicated category material. Importantly, in addition, the near
surface open pittable portion of the deposit now contains a
substantial increase in both uranium grade and contained metal.
Future drilling will concentrate on expanding the mineral resources
at both the Michelin Deposit and the deposits and prospects
occurring in the immediate surrounds.
Declaration
The information in this announcement that relates to exploration
results and mineral resources is based on information compiled by
David Princep B.Sc., FAusIMM(CP). Mr Princep has sufficient
experience that is relevant to the style of mineralisation and type
of deposit under consideration and to the activity that he is
undertaking to qualify as a Competent Person as defined in the 2012
Edition of the "Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves", and as a Qualified
Person as defined in NI 43-101. Mr Princep is a full-time employee
of Paladin Energy Ltd and approves of and consents to the inclusion
of the information in this announcement (and the attachment to this
announcement) in the form and context in which it appears.
Caution regarding forward-looking information
Except for historical information contained in this news
release, this news release contains "forward-looking information"
within the meaning of securities laws of applicable jurisdictions.
The forward-looking information includes, but is not limited to,
statements with respect to the economic viability and additional
potential of the Michelin Project, the estimated Mineral Resources
of the Michelin Project and Paladin's intentions to file a NI
43-101 technical report for the Michelin project, undertake
additional infill drilling and complete additional field work,
exploration and drilling at the Michelin Project. Assumptions upon
which such forward-looking information is based include that
exploration programs will proceed as planned, that the Company will
continue to have the ability to carry on its exploration
activities, will have or will be able to obtain sufficient funding,
will receive required approvals on a timely basis, will not be
affected by adverse political events, will continue to operate in a
safe, efficient and effective manner and will be able to obtain
further financing as and when required and on reasonable terms and
that there will be a sufficient increase in the uranium price to
incentives project development. Management believes these
assumptions are reasonable. However, forward-looking information
involves known and unknown risks, uncertainties and other factors,
many of which are outside the control of Paladin, and its officers,
employees, agents or associates. Such risks, uncertainties and
other factors include, but are not limited to, that the business of
exploration for uranium involves a high degree of risk and is
highly speculative in nature, mineral resources are not mineral
reserves, they do not have demonstrated economic viability at this
time and there is no certainty that they can be upgrades to mineral
reserves through continued exploration; few properties that are
explored are ultimately developed into producing mines; geological
factors; the actual results of current and future exploration;
changes in project parameters as plans continue to be evaluated,
and those factors discussed in the section entitled "Risk Factors"
in Paladin's most recent Annual Information Form available under
Paladin's profile on SEDAR at www.sedar.com. Although Paladin has
attempted to identify important factors that could cause actual
results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. Actual
results, performance or achievements may vary materially from those
suggested by such forward-looking information. Readers are
cautioned not to place undue reliance on forward-looking
information and Paladin assumes no obligation to update such
information, except as required by applicable law.
| JORC Code, 2012 Edition - Michelin deposit 2014 |
|
| Section 1: For information relating to section 1 please see
Paladin ASX announcement 'Positive Drilling Results, Michelin
Project, Labrador', 7th May 2014 |
|
| Section 2: For information relating to section 2 please see
Paladin ASX announcement 'Positive Drilling Results, Michelin
Project, Labrador', 7th May 2014 |
|
| Section 3 Estimation and Reporting of Mineral Resources |
|
Criteria |
JORC Code explanation |
|
Commentary |
|
Database integrity |
- Measures taken to ensure that data has not been corrupted by,
for example, transcription or keying errors, between its initial
collection and its use for Mineral Resource estimation purposes. -
Data validation procedures used. |
|
- All data has been extensively validated back to the original
paper and electronic logs and any issues have been resolved. The
geological database contains extensive validation tools for
automatic flagging of a significant number of potential validation
issues. - Data validation procedures are visual (based on
comparison of printed logs and sections) and electronic (on
database upload of electronic information - assay results, gamma
and down hole survey logs etc.) |
|
Site visits |
- Comment on any site visits undertaken by the Competent Person
and the outcome of those visits. - If no site visits have been
undertaken indicate why this is the case. |
|
- The exploration area was visited by the CP for a period of 7 days
during the March 2013 winter drilling programme. |
|
Geological interpretation |
- Confidence in (or conversely, the uncertainty of) the
geological interpretation of the mineral deposit. - Nature of the
data used and of any assumptions made. - The effect, if any, of
alternative interpretations on Mineral Resource estimation. - The
use of geology in guiding and controlling Mineral Resource
estimation. - The factors affecting continuity both of grade and
geology. |
|
- The geological setting of the deposit is well understood having
been subject to extensive exploration over a number of years. A
combination of core logging as well as downhole radiometric logs
has been used to refine and more accurately define the geological
model. - The mineral resource was defined by a combination of the
modelled geological sequence and mineral resource grade shells. -
The local geology appears to be relatively simple in the main and
it is not expected that any alternative interpretation would
substantially alter either the gross geological model or the
contained metal within the mineral resource estimate. |
|
Dimensions |
- The extent and variability of the Mineral Resource expressed
as length (along strike or otherwise), plan width, and depth below
surface to the upper and lower limits of the Mineral
Resource. |
|
- The current mineral resource is modelled to be 1500m in strike,
1,150m in the dip direction (950m vertical) and varies in width
from <2m at the strike extremities to 280m when both the hanging
and footwall mineralisation is considered. |
|
Estimation and modelling techniques |
- The nature and appropriateness of the estimation technique(s)
applied and key assumptions, including treatment of extreme grade
values, domaining, interpolation parameters and maximum distance of
extrapolation from data points. If a computer assisted estimation
method was chosen include a description of computer software and
parameters used. - The availability of check estimates, previous
estimates and/or mine production records and whether the Mineral
Resource estimate takes appropriate account of such data. - The
assumptions made regarding recovery of by-products. - Estimation of
deleterious elements or other non-grade variables of economic
significance (eg sulphur for acid mine drainage characterisation).
- In the case of block model interpolation, the block size in
relation to the average sample spacing and the search employed. -
Any assumptions behind modelling of selective mining units. - Any
assumptions about correlation between variables. - Description of
how the geological interpretation was used to control the resource
estimates. - Discussion of basis for using or not using grade
cutting or capping. - The process of validation, the checking
process used, the comparison of model data to drill hole data, and
use of reconciliation data if available. |
|
- The mineral resource was estimated using Multi Indicator Kriging
(MIK) techniques with a specific variance adjustment correction
applied to allow for the level of selectivity expected during the
mining process. Estimation search distances range from 50mE x 30mN
x 20mRL to 150mE x 90mN x 60mRL in three passes. Searches were
conducted on an octant basis with a minimum of 4 octants for
Measured and Indicated material and two octants for Inferred
material. In addition a minimum of 16 samples (and maximum of 32)
were required for Measured and Indicated estimates, this was
relaxed to a minimum of 8 samples for Inferred material. The full
MIK model has been used to report the open pit portion of the
mineral resource at a 250ppm U3O8 cut-off grade. Reporting a
proportional block mode is not considered appropriate for the
purposes of reporting for mineral resources likely to be extracted
by underground mining techniques so the block average grade
(e-type) within the mineralised wireframe at a cut-off grade of
500ppm U3O8 is reported for the mineral resource below 100m RL. -
The mineral resource reported here has been compared to the
previous mineral resource estimate and compared favourably in terms
of total contained tonnes and metal. However the distribution of
grade between the two component parts of the mineral resource is
different, reflecting the different estimation techniques. - There
are currently no defined by-products. - Test work undertaken to
data suggests that there are no deleterious elements or other
non-grade variables of economic significance. - The primary block
sizes are 20m (E) x 5m (N) x 10m (RL) and are orientated in the
direction of the dip of the mineralisation and are considered
appropriate to both the average width of the mineralisation and the
current drilling density. - The selective mining unit (SMU) size of
5m x 5m x 2.5m was determined on the basis of the likely size of
equipment used to mine the deposit and likely bench height for
mining open pit. - Grade wireframes were used to define distinct
geology and mineralisation domains and these were used to control
the MIK estimation. - As the mineral resource estimation technique
was MIK no grade capping or cutting was undertaken. - Swath plots
of the mineral resource and underlying sample data (in North, East
and RL directions) was used to assess the validity of the mineral
resource estimate. In all cases it is believed that the mineral
resource estimate is reasonable. |
|
Moisture |
- Whether the tonnages are estimated on a dry basis or with
natural moisture, and the method of determination of the moisture
content. |
|
- Tonnages are estimated dry. |
|
Cut-off parameters |
- The basis of the adopted cut-off grade(s) or quality
parameters applied. |
|
- Cut off parameters are based on the likelihood of open pit mining
for the first portion of the mineral resource. Pit optimisation
calculations were undertaken at a number of commodity prices to
determine both the likely depth of transition between open pit and
underground mining (which directly affects the size of the mineral
resource) as well as indicating a marginal cut-off grade. A uranium
price of US$60/lb indicates a marginal cut-off grade of 250ppm U3O8
and also defines a reasonable open pit base at 100m RL. A higher
cut-off grade of 500ppm U3O8 was selected to reflect the higher
costs associated with underground mining. |
|
Mining factors or assumptions |
- Assumptions made regarding possible mining methods, minimum
mining dimensions and internal (or, if applicable, external) mining
dilution. It is always necessary as part of the process of
determining reasonable prospects for eventual economic extraction
to consider potential mining methods, but the assumptions made
regarding mining methods and parameters when estimating Mineral
Resources may not always be rigorous. Where this is the case, this
should be reported with an explanation of the basis of the mining
assumptions made. |
|
- It is assumed that the mineralisation is likely to be extracted
by a combination of both open pit and underground mining
techniques. As the mineral resource estimation technique is MIK no
additional dilution or recovery adjustments have been made over
those contained in the original estimation. Should mining be
conducted at the Michelin deposit it is expected that, once some
form of grade control reconciliation can be completed, refinement
of the MIK variance adjustment can be undertaken. |
|
Metallurgical factors or assumptions |
- The basis for assumptions or predictions regarding
metallurgical amenability. It is always necessary as part of the
process of determining reasonable prospects for eventual economic
extraction to consider potential metallurgical methods, but the
assumptions regarding metallurgical treatment processes and
parameters made when reporting Mineral Resources may not always be
rigorous. Where this is the case, this should be reported with an
explanation of the basis of the metallurgical assumptions
made. |
|
- Existing metallurgical testwork indicates that the mineralisation
is amenable to conventional acid leach extraction at reasonable
cost. Additional testwork to determine the amenability to alkaline
leach is expected to be undertaken in the future. Following this it
is expected that a preferred processing route will be
determined |
|
Environmental factors or assumptions |
- Assumptions made regarding possible waste and process residue
disposal options. It is always necessary as part of the process of
determining reasonable prospects for eventual economic extraction
to consider the potential environmental impacts of the mining and
processing operation. While at this stage the determination of
potential environmental impacts, particularly for a greenfields
project, may not always be well advanced, the status of early
consideration of these potential environmental impacts should be
reported. Where these aspects have not been considered this should
be reported with an explanation of the environmental assumptions
made. |
|
- Environmental baseline work was undertaken by the previous owners
of the deposit and this has been continued by Paladin. There has
been no extensive assessment of the environmental impacts of the
project and as such this has not been considered in the mineral
resource estimate. - There are no other known legal, political or
other risks that could materially affect the potential development
of the mineral resources. |
|
Bulk density |
- Whether assumed or determined. If assumed, the basis for the
assumptions. If determined, the method used, whether wet or dry,
the frequency of the measurements, the nature, size and
representativeness of the samples. - The bulk density for bulk
material must have been measured by methods that adequately account
for void spaces (vugs, porosity, etc), moisture and differences
between rock and alteration zones within the deposit. - Discuss
assumptions for bulk density estimates used in the evaluation
process of the different materials. |
|
- The bulk density value used in the mineral resource estimate was
determined from analysis of diamond drill core using standardised
techniques. A total of 2,440 bulk density determinations were used
and these are distributed throughout the mineralisation. The main
method employed was weighing in air and water following drying and
sealing of the sample. This method is considered to appropriately
deal with void, moisture and rock type differences. The valued
applied to the mineral resource estimate is based on the
predominant mineralised rock type and does not make allowance for
the inclusion of non-mineralised intrusive rocks, however the
sample grade is reduced for these rocks in the compositing process
leading to the potential for a minor understatement of metal within
the mineral resource estimate. |
|
Classification |
- The basis for the classification of the Mineral Resources
into varying confidence categories. - Whether appropriate account
has been taken of all relevant factors (ie relative confidence in
tonnage/grade estimations, reliability of input data, confidence in
continuity of geology and metal values, quality, quantity and
distribution of the data). - Whether the result appropriately
reflects the Competent Person's view of the deposit. |
|
- The mineral resource has been classified on the basis of drilling
density throughout the deposit as well as the validity of the
underlying data. - All relevant factors have been taken into
account when determining the mineral resource classification. - The
current classification of the deposit reflects the opinion of the
Competent Person. |
|
Audits or reviews |
- The results of any audits or reviews of Mineral Resource
estimates. |
|
- The mineral resource estimate has been reviewed by Company
specialists and the current values reflect this review. |
|
Discussion of relative accuracy/ confidence |
- Where appropriate a statement of the relative accuracy and
confidence level in the Mineral Resource estimate using an approach
or procedure deemed appropriate by the Competent Person. For
example, the application of statistical or geostatistical
procedures to quantify the relative accuracy of the resource within
stated confidence limits, or, if such an approach is not deemed
appropriate, a qualitative discussion of the factors that could
affect the relative accuracy and confidence of the estimate. - The
statement should specify whether it relates to global or local
estimates, and, if local, state the relevant tonnages, which should
be relevant to technical and economic evaluation. Documentation
should include assumptions made and the procedures used. - These
statements of relative accuracy and confidence of the estimate
should be compared with production data, where available. |
|
- Based on the current understanding of the deposit it is believed
that the mineral resource estimate reasonably reflects the accuracy
and confidence levels within the deposit. Due to the nature and
style of the mineralisation it is expected that additional,
detailed, infill drilling will locally modify grades and
thicknesses however the global tonnages and grades are expected to
remain consistent. |
ACN 061 681 098
John BorshoffManaging Director/CEOTel: +61-8-9381-4366 orMobile:
+61-419-912-571Email: john.borshoff@paladinenergy.com.auGreg
TaylorInvestor Relations ContactTel: +1 905 337-7673 orMobile: +1
416-605-5120 (Toronto)Email: greg.taylor@paladinenergy.com.au
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