Xanadu Mines Ltd (ASX: XAM, TSX: XAM) (
“Xanadu” or “the
Company”) is pleased to report that on-ground exploration
activities have recommenced at the highly prospective Red Mountain
Joint Venture (
JV) with the Japan Oil, Gas and
Metals National Corporation (
JOGMEC).
Highlights
- On-ground
exploration activities have recommenced at Red
Mountain
- Red
Mountain JV with JOGMEC is focused on discovery of a Tier-1
copper-gold porphyry deposit
- Red
Mountain JV builds upon Xanadu’s other active exploration program
at Kharmagtai in the South Gobi
- Program
consists of 4,300 metres of diamond drilling
Xanadu’s Chief Executive Officer, Dr
Andrew Stewart, said “We are excited to have exploration
drilling recommencing at our Red Mountain JV with JOGMEC. The fact
that we can commence operational activities following local
COVID-19 related restrictions is testament to the proactive and
effective approach being taken by the Government of Mongolia in
managing the pandemic.
Red Mountain offers a rare opportunity to access
a large, under-explored porphyry district. In the coming months, we
will deploy a systematic exploration program, including diamond
drilling, that we expect will provide a new perspective on the
mineral potential of the Red Mountain district. Diamond drilling
will be testing several large-scale drill targets.”
About Red Mountain
The Red Mountain JV project, located within the
Dornogovi Province of southern Mongolia, approximately 420
kilometres southeast of Ulaanbaatar (Figure 1), is
a joint venture between Xanadu and JOGMEC. The project covers
approximately 57 square kilometres in a frontier terrane with
significant mineral endowment and has a granted 30-year mining
licence. Red Mountain comprises a cluster of outcropping
mineralising porphyry intrusions which display features typically
found in the shallower parts of porphyry systems where narrow dykes
and patchy mineralisation branch out above a mineralised stock.
This underexplored porphyry district includes multiple porphyry
copper-gold centres, mineralised tourmaline breccia pipes
copper-gold/base metal skarns and high-grade epithermal gold
veins.
Existing porphyry mineralisation at Red Mountain
is hosted within narrow stockwork zones that have been focused
around several narrow structurally controlled monzonite porphyry
dykes. Emplacement of mineralisation appears to be controlled by
intersection of northeast and north-northwest trending structures.
The quartz-chalcopyrite-bornite stockwork mineralisation is
associated with strong reddening albite-sericite-biotite-magnetite
(potassic) alteration assemblage in the host lithology. The thin
nature of the mineralising dykes, their irregular intrusion
geometry, and the patchy distribution of stockwork mineralisation
are all features typically found in the shallower parts of porphyry
systems, where narrow dykes and patchy mineralisation branch out
above a mineralised stock. Similar orebody geometries are found in
the shallower parts of the Northparkes porphyry copper-gold
(Cu-Au) deposits in NSW, where porphyry
mineralisation has also been tightly focused along a controlling
structure adjacent to a felsic pluton. Like Northparkes, there is
the potential for further mineralisation along the main structures
at Diorite Hill and Stockwork Hill, and the likelihood that
mineralisation extends (and could amalgamate) at depth.
FIGURE 1 is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/d8cb144f-594e-4cf2-bca5-7eebcd6fedbd
Joint venture with JOGMEC
JOGMEC may earn up to 51% beneficial interest in
the project by sole funding up to $US7.2 million in exploration
expenditure over the next four years. The exploration objective of
the earn-in deal is to discover Mongolia’s next world-class
copper-porphyry deposit.
FIGURE 2 is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/c82284fa-aab7-4d92-b038-231b4c796708
About Xanadu Mines
Xanadu is an ASX and TSX listed exploration
company that seeks to discover and define globally significant
porphyry copper-gold assets in Mongolia. We give investors exposure
to large scale copper-gold discoveries, and we create liquidity
events for our shareholders at peak value points in the mining life
cycle. Xanadu delivers this through a low cost of discovery,
inventory growth, and by progressing projects from Discovery
towards Pre-Feasibility.
For further information, please visit
www.xanadumines.com or contact:
Andrew StewartCEO Xanadu Mines Ltd
Andrew.stewart@xanadumines.com+61 409 819 922
This Announcement was authorised for release by
Xanadu’s Board of Directors.
FORWARD-LOOKING STATEMENTS
Certain statements contained in this
Announcement, including information as to the future financial or
operating performance of Xanadu and its projects may also include
statements which are ‘forward‐looking statements’ that may include,
amongst other things, statements regarding targets, estimates and
assumptions in respect of mineral reserves and mineral resources
and anticipated grades and recovery rates, production and prices,
recovery costs and results, capital expenditures and are or may be
based on assumptions and estimates related to future technical,
economic, market, political, social and other conditions. These
‘forward-looking statements’ are necessarily based upon a number of
estimates and assumptions that, while considered reasonable by
Xanadu, are inherently subject to significant technical, business,
economic, competitive, political and social uncertainties and
contingencies and involve known and unknown risks and uncertainties
that could cause actual events or results to differ materially from
estimated or anticipated events or results reflected in such
forward‐looking statements.
Xanadu disclaims any intent or obligation to
update publicly or release any revisions to any forward‐looking
statements, whether as a result of new information, future events,
circumstances or results or otherwise after the date of this
Announcement or to reflect the occurrence of unanticipated events,
other than required by the Corporations Act 2001 (Cth) and the
Listing Rules of the Australian Securities Exchange (ASX) and
Toronto Stock Exchange (TSX). The words ‘believe’, ‘expect’,
‘anticipate’, ‘indicate’, ‘contemplate’, ‘target’, ‘plan’,
‘intends’, ‘continue’, ‘budget’, ‘estimate’, ‘may’, ‘will’,
‘schedule’ and similar expressions identify forward‐looking
statements.
All ‘forward‐looking statements’ made in this
Announcement are qualified by the foregoing cautionary statements.
Investors are cautioned that ‘forward‐looking statements’ are not
guarantee of future performance and accordingly investors are
cautioned not to put undue reliance on ‘forward‐looking statements’
due to the inherent uncertainty therein.
For further information please visit the Xanadu
Mines Web Site at www.xanadumines.com.
1.1 JORC TABLE 1 -
SECTION 1 - SAMPLING TECHNIQUES AND DATA
Criteria |
JORC Code explanation |
Commentary |
Sampling techniques |
- Nature and quality of sampling (eg cut channels, random chips,
or specific specialised industry standard measurement tools
appropriate to the minerals under investigation, such as down hole
gamma sondes, or handheld XRF instruments, etc). These examples
should not be taken as limiting the broad meaning of sampling.
- Include reference to measures taken to ensure sample
representivity and the appropriate calibration of any measurement
tools or systems used.
- Aspects of the determination of mineralisation that are
Material to the Public Report.
- In cases where ‘industry standard’ work has been done this
would be relatively simple (e.g. ‘reverse circulation drilling was
used to obtain 1 m samples from which 3 kg was pulverised to
produce a 30 g charge for fire assay’). In other cases, more
explanation may be required, such as where there is coarse gold
that has inherent sampling problems. Unusual commodities or
mineralisation types (e.g. submarine nodules) may warrant
disclosure of detailed information.
|
- The resource estimate is based on diamond drill core samples,
RC chip samples and channel samples from surface trenches.
- Representative ½ core samples were split from PQ, HQ & NQ
diameter diamond drill core on site using rock saws, on a routine
2m sample interval that also honors lithological/intrusive
contacts.
- The orientation of the cut line is controlled using the core
orientation line ensuring uniformity of core splitting wherever the
core has been successfully oriented.
- Sample intervals are defined and subsequently checked by
geologists, and sample tags are attached (stapled) to the plastic
core trays for every sample interval.
- RC chip samples are ¼ splits from one meter intervals using a
75%:25% riffle splitter to obtain a 3kg sample
- RC samples are uniform 2m samples formed from the combination
of two ¼ split 1m samples.
|
Drilling techniques |
- Drill type (e.g. core, reverse
circulation, open-hole hammer, rotary air blast, auger, Bangka,
sonic, etc.) and details (e.g. core diameter, triple or standard
tube, depth of diamond tails, face-sampling bit or other type,
whether core is oriented and if so, by what method, etc).
|
- The Mineral Resource estimation has been based upon diamond
drilling of PQ, HQ and NQ diameters with both standard and triple
tube core recovery configurations, RC drilling and surface
trenching with channel sampling.
- All drill core drilled by Xanadu has been oriented using the
“Reflex Ace” tool.
|
Drill sample recovery |
- Method of recording and assessing core and chip sample
recoveries and results assessed.
- Measures taken to maximise sample recovery and ensure
representative nature of the samples.
- Whether a relationship exists between sample recovery and grade
and whether sample bias may have occurred due to preferential
loss/gain of fine/coarse material.
|
- Diamond drill core recoveries were assessed using the standard
industry (best) practice which involves: removing the core from
core trays; reassembling multiple core runs in a v-rail; measuring
core lengths with a tape measure, assessing recovery against core
block depth measurements and recording any measured core loss for
each core run.
- Diamond core recoveries average 97% through
mineralization.
- Overall, core quality is good, with minimal core loss. Where
there is localized faulting and or fracturing core recoveries
decrease, however, this is a very small percentage of the
mineralized intersections.
- RC recoveries are measured using whole weight of each 1m
intercept measured before splitting
- Analysis of recovery results vs grade shows no significant
trends that might indicate sampling bias introduced by variable
recovery in fault/fracture zones.
|
Logging |
- Whether core and chip samples have been geologically and
geotechnically logged to a level of detail to support appropriate
Mineral Resource estimation, mining studies and metallurgical
studies.
- Whether logging is qualitative or quantitative in nature. Core
(or costean, channel, etc) photography.
- The total length and percentage of the relevant intersections
logged.
|
- All drill core is geologically logged by well-trained
geologists using a modified “Anaconda-style” logging system
methodology. The Anaconda method of logging and mapping is
specifically designed for porphyry Cu-Au mineral systems and is
entirely appropriate to support Mineral Resource Estimation, mining
and metallurgical studies.
- Logging of lithology, alteration and mineralogy is
intrinsically qualitative in nature. However, the logging is
subsequently supported by 4 Acid ICP-MS (48 element) geochemistry
and SWIR spectral mineralogy (facilitating
semi-quantitative/calculated mineralogical, lithological and
alteration classification) which is integrated with the logging to
improve cross section interpretation and 3D geological model
development.
- Drill core is also systematically logged for both geotechnical
features and geological structures. Where drill core has been
successfully oriented, the orientation of structures and
geotechnical features are also routinely measured.
- Both wet and dry core photos are taken after core has been
logged and marked-up but before drill core has been cut.
|
Sub-sampling techniques and sample
preparation |
- If core, whether cut or sawn and whether quarter, half or all
core taken.
- If non-core, whether riffled, tube sampled, rotary split, etc
and whether sampled wet or dry.
- For all sample types, the nature, quality and appropriateness
of the sample preparation technique.
- Quality control procedures adopted for all sub-sampling stages
to maximise representivity of samples.
- Measures taken to ensure that the sampling is representative of
the in situ material collected, including for instance results for
field duplicate/second-half sampling.
- Whether sample sizes are appropriate to the grain size of the
material being sampled.
|
- All drill core samples are ½ core splits from either PQ, HQ or
NQ diameter cores. A routine 2m sample interval is used, but this
is varied locally to honour lithological/intrusive contacts. The
minimum allowed sample length is 30cm.
- Core is appropriately split (onsite) using diamond core saws
with the cut line routinely located relative to the core
orientation line (where present) to provide consistency of sample
split selection.
- The diamond saws are regularly flushed with water to minimize
potential contamination.
- A field duplicate ¼ core sample is collected every 30th sample
to ensure the “representivity of the in situ material collected”.
The performance of these field duplicates are routinely analysed as
part of Xanadu’s sample QC process.
- Routine sample preparation and analyses of DDH samples were
carried out by ALS Mongolia LLC (ALS Mongolia), who operates an
independent sample preparation and analytical laboratory in
Ulaanbaatar.
- All samples were prepared to meet standard quality control
procedures as follows: Crushed to 75% passing 2mm, split to 1kg,
pulverised to 85% passing 200 mesh (75 microns) and split to 150g
sample pulp.
- ALS Mongolia Geochemistry labs quality management system is
certified to ISO 9001:2008.
- The sample support (sub-sample mass and comminution) is
appropriate for the grainsize and Cu-Au distribution of the
porphyry Cu-Au mineralization and associated host rocks.
|
Quality of assay data and laboratory tests |
- The nature, quality and appropriateness of the assaying and
laboratory procedures used and whether the technique is considered
partial or total.
- For geophysical tools, spectrometers, handheld XRF instruments,
etc, the parameters used in determining the analysis including
instrument make and model, reading times, calibrations factors
applied and their derivation, etc.
- Nature of quality control procedures adopted (eg standards,
blanks, duplicates, external laboratory checks) and whether
acceptable levels of accuracy (ie lack of bias) and precision have
been established.
|
- All samples were routinely assayed by ALS Mongolia for
gold
- Au is determined using a 25g fire assay fusion, cupelled to
obtain a bead, and digested with Aqua Regia, followed by an atomic
absorption spectroscopy (AAS) finish, with a lower detection (LDL)
of 0.01 ppm.
- All samples were also submitted to ALS Mongolia for the 48
element package ME-ICP61 using a four acid digest (considered to be
an effective total digest for the elements relevant to the MRE).
Where copper is over-range (>1% Cu), it is analysed by a second
analytical technique (Cu-OG62), which has a higher upper detection
limit (UDL) of 5% copper.
- Quality assurance has been managed by insertion of appropriate
Standards (1:30 samples – suitable Ore Research Pty Ltd certified
standards), Blanks (1:30 samples), Duplicates (1:30 samples – ¼
core duplicate) by XAM.
- Assay results outside the optimal range for methods were
re-analysed by appropriate methods.
- Ore Research Pty Ltd certified copper and gold standards have
been implemented as a part of QC procedures, as well as coarse and
pulp blanks, and certified matrix matched copper-gold
standards.
- QC monitoring is an active and ongoing processes on batch by
batch basis by which unacceptable results are re-assayed as soon as
practicable.
- Prior to 2014: Cu, Ag, Pb, Zn, As and Mo were routinely
determined using a three-acid-digestion of a 0.3g sub-sample
followed by an AAS finish (AAS21R) at SGS Mongolia. Samples were
digested with nitric, hydrochloric and perchloric acids to dryness
before leaching with hydrochloric acid to dissolve soluble salts
and made to 15ml volume with distilled water. The LDL for copper
using this technique was 2ppm. Where copper was over-range (>1%
Cu), it was analysed by a second analytical technique (AAS22S),
which has a higher upper detection limit (UDL) of 5% copper. Gold
analysis method was essentially unchanged.
|
Verification of sampling and assaying |
- The verification of significant intersections by either
independent or alternative company personnel.
- The use of twinned holes.
- Documentation of primary data, data entry procedures, data
verification, data storage (physical and electronic)
protocols.
- Discuss any adjustment to assay data.
|
- All assay data QAQC is checked prior to loading into XAM’s
Geobank data base.
- The data is managed by XAM geologists.
- The data base and geological interpretation is managed by
XAM.
- Check assays are submitted to an umpire lab (SGS Mongolia) for
duplicate analysis.
- No twinned drill holes exist.
- There have been no adjustments to any of the assay data.
|
Location of data points |
- Accuracy and quality of surveys used to locate drill holes
(collar and down-hole surveys), trenches, mine workings and other
locations used in Mineral Resource estimation.
- Specification of the grid system used.
- Quality and adequacy of topographic control.
|
- Diamond drill holes have been surveyed with a differential
global positioning system (DGPS) to within 10cm accuracy.
- The grid system used for the project is UTM WGS-84 Zone
48N
- Historically, Eastman Kodak and Flexit electronic multi-shot
downhole survey tools have been used at Red Mountain to collect
down hole azimuth and inclination information for the majority of
the diamond drill holes. Single shots were typically taken every
30m to 50m during the drilling process, and a multi-shot survey
with readings every 3-5m are conducted at the completion of the
drill hole. As these tools rely on the earth’s magnetic field to
measure azimuth, there is some localised interference/inaccuracy
introduced by the presence of magnetite in some parts of the Red
Mountain mineral system. The extent of this interference cannot be
quantified on a reading-by-reading basis.
- More recently (since September 2017), a north-seeking gyro has
been employed by the drilling crews on site (rented and operated by
the drilling contractor), providing accurate downhole orientation
measurements unaffected by magnetic effects. Xanadu have a
permanent calibration station setup for the gyro tool, which is
routinely calibrated every 2 weeks (calibration records are
maintained and were sighted)
- The project DTM is based on 1 m contours from satellite imagery
with an accuracy of ±0.1 m.
|
Data spacing and distribution |
- Data spacing for reporting of Exploration Results.
- Whether the data spacing and distribution is sufficient to
establish the degree of geological and grade continuity appropriate
for the Mineral Resource and Ore Reserve estimation procedure(s)
and classifications applied.
- Whether sample compositing has been applied.
|
- Holes spacings range from <50m spacings within the core of
mineralization to +500m spacings for exploration drilling. Hole
spacings can be determined using the sections and drill plans
provided.
- Holes range from vertical to an inclination of -60 degrees
depending on the attitude of the target and the drilling
method.
- The data spacing and distribution is sufficient to establish
anomalism and targeting for porphyry Cu-Au, tourmaline breccia and
epithermal target types.
- Holes have been drilled to a maximum of 1,300m vertical
depth.
- The data spacing and distribution is sufficient to establish
geological and grade continuity, and to support the Mineral
Resource classification.
|
Orientation of data in relation to geological
structure |
- Whether the orientation of sampling achieves unbiased sampling
of possible structures and the extent to which this is known,
considering the deposit type.
- If the relationship between the drilling orientation and the
orientation of key mineralised structures is considered to have
introduced a sampling bias, this should be assessed and reported if
material.
|
- Drilling is conducted in a predominantly regular grid to allow
unbiased interpretation and targeting.
- Scissor drilling, as well as some vertical and oblique
drilling, has been used in key mineralised zones to achieve
unbiased sampling of interpreted structures and mineralised zones,
and in particular to assist in constraining the geometry of the
mineralised hydrothermal tourmaline-sulphide breccia domains.
|
Sample security |
- The measures taken to ensure sample
security.
|
- Samples are delivered from the drill rig to the core shed twice
daily and are never left unattended at the rig.
- Samples are dispatched from site in locked boxes transported on
XAM company vehicles to ALS lab in Ulaanbaatar.
- Sample shipment receipt is signed off at the Laboratory with
additional email confirmation of receipt.
- Samples are then stored at the lab and returned to a locked
storage site.
|
Audits or reviews |
- The results of any audits or reviews of sampling techniques and
data.
|
- Internal audits of sampling techniques and data management are
undertaken on a regular basis, to ensure industry best practice is
employed at all times.
- External reviews and audits have been conducted by the
following groups:
- 2012: AMC Consultants Pty Ltd. was engaged to conduct an
Independent Technical Report which reviewed drilling and sampling
procedures. It was concluded that sampling and data record was to
an appropriate standard.
- 2013: Mining Associates Ltd. was engaged to conduct an
Independent Technical Report to review drilling, sampling
techniques and QAQC. Methods were found to conform to international
best practice.
- 2018: CSA Global reviewed the entire drilling, logging,
sampling, sample shipping and laboratory processes during the
competent persons site visit for the 2018 MRe, and found the
systems and adherence to protocols to be to an appropriate
standard.
|
1.2 JORC TABLE 1 -
SECTION 2 - REPORTING OF EXPLORATION RESULTS
(Criteria in this section apply to all succeeding sections).
Criteria |
JORC Code (Section 2) Explanation |
Commentary |
Mineraltenementand
landtenurestatus |
- Type, reference name/number, location and ownership including
agreements or material issues with third parties such as joint
ventures, partnerships, overriding royalties, native title
interests, historical sites, wilderness or national park and
environmental settings.
- The security of the tenure held at the time of reporting along
with any known impediments to obtaining a license to operate in the
area.
|
- The Project comprises 1 Mining Licence (MV-17129A).
- Xanadu now owns 90% of Vantage LLC, the 100% owner of the Oyut
Ulaan mining licence.
- The Mongolian Minerals Law (2006) and Mongolian Land Law (2002)
govern exploration, mining and land use rights for the
project.
|
Explorationdone
byotherparties |
- Acknowledgment
and appraisal of exploration by other parties.
|
- Previous exploration was conducted by Quincunx Ltd, Ivanhoe
Mines Ltd and Turquoise Hill Resources Ltd including extensive
drilling, surface geochemistry, geophysics, mapping.
|
Geology |
- Deposit type,
geological setting and style of mineralisation.
|
- The mineralisation is characterised as porphyry copper-gold
type.
- Porphyry copper-gold deposits are formed from magmatic
hydrothermal fluids typically associated with felsic intrusive
stocks that have deposited metals as sulphides both within the
intrusive and the intruded host rocks. Quartz stockwork veining is
typically associated with sulphides occurring both within the
quartz veinlets and disseminated thought out the wall rock.
Porphyry deposits are typically large tonnage deposits ranging from
low to high grade and are generally mined by large scale open pit
or underground bulk mining methods. The deposits at Red Mountain
are atypical in that they are associated with intermediate
intrusions of diorite to quartz diorite composition; however the
deposits are in terms of contained gold significant, and similar
gold-rich porphyry deposits.
|
Drill holeInformation |
- A summary of all information
material to the understanding of the exploration results including
a tabulation of the following information for all Material drill
holes:
- easting and northing of the drill
hole collar.
- elevation or RL Reduced Level –
elevation above sea level in metres) of the drill hole collar.
- dip and azimuth of the hole
- down hole length and interception
depth
- hole length.
- If the exclusion of this
information is justified on the basis that the information is not
Material and this exclusion does not detract from the understanding
of the report, the Competent Person should clearly explain why this
is the case.
|
- Diamond drill holes are the principal source of geological and
grade data for the Project.
- See figures in ASX/TSX Announcement.
|
DataAggregation methods |
- In reporting Exploration Results,
weighting averaging techniques, maximum and/or minimum grade
truncations (eg cutting of high grades) and cut-off grades are
usually Material and should be stated.
- Where aggregate intercepts
incorporate short lengths of high grade results and longer lengths
of low grade results, the procedure used for such aggregation
should be stated and some typical examples of such aggregations
should be shown in detail.
- The assumptions used for any
reporting of metal equivalent values should be clearly stated.
|
- A nominal cut-off of 0.1% eCu is used in copper dominant
systems for identification of potentially significant intercepts
for reporting purposes. Higher grade cut-offs are 0.3%, 0.6% and 1%
eCu.
- A nominal cut-off of 0.1g/t eAu is used in gold dominant
systems like for identification of potentially significant
intercepts for reporting purposes. Higher grade cut-offs are
0.3g/t, 0.6g/t and 1g/t eAu.
- Maximum contiguous dilution within each intercept is 9m for
0.1%, 0.3%, 0.6% and 1% eCu.
- Most of the reported intercepts are shown in sufficient detail,
including maxima and subintervals, to allow the reader to make an
assessment of the balance of high and low grades in the
intercept.
- Informing samples have been composited to two metre lengths
honouring the geological domains and adjusted where necessary to
ensure that no residual sample lengths have been excluded (best
fit).
- The copper equivalent (eCu) calculation represents the total
metal value for each metal, multiplied by the conversion factor,
summed and expressed in equivalent copper percentage with a
metallurgical recovery factor applied. The copper equivalent
calculation used is based off the eCu calculation defined by CSA in
the 2018 Mineral Resource Upgrade.
- Copper equivalent (CuEq or eCu) grade values were calculated
using the following formula:• eCu or CuEq = Cu + Au * 0.62097 *
0.8235,
- Gold Equivalent (eAu) grade values were calculated using the
following formula:• eAu = Au + Cu / 0.62097 * 0.8235.
- Where: Cu - copper grade (%)
- Au - gold grade (g/t)
- 0.62097- conversion factor (gold to copper)
- 0.8235 - relative recovery of gold to copper
(82.35%)
- The copper equivalent formula was based on the following
parameters (prices are in USD):
- Copper price - 3.1 $/lb (or 6834 $/t)
- Gold price - 1320 $/oz
- Copper recovery - 85%
- Gold recovery - 70%
- Relative recovery of gold to copper = 70% / 85% = 82.35%.
|
Relationship between mineralisationon
widthsand
interceptlengths |
- These relationships are
particularly important in the reporting of Exploration
Results.
- If the geometry of the
mineralisation with respect to the drill hole angle is known, its
nature should be reported.
- If it is not known and only the
down hole lengths are reported, there should be a clear statement
to this effect (eg ‘down hole length, true width not known’).
|
- Mineralised structures are variable in orientation, and
therefore drill orientations have been adjusted from place to place
in order to allow intersection angles as close as possible to true
widths.
- Exploration results have been reported as an interval with
'from' and 'to' stated in tables of significant economic
intercepts. Tables clearly indicate that true widths will generally
be narrower than those reported.
|
Diagrams |
- Appropriate maps
and sections (with scales) and tabulations of intercepts should be
included for any significant discovery being reported These should
include, but not be limited to a plan view of drill hole collar
locations and appropriate sectional views.
|
- See figures in ASX/TSX Announcement.
|
BalancedReporting |
- Where
comprehensive reporting of all Exploration Results is not
practicable, representative reporting of both low and high grades
and/or widths should be practiced to avoid misleading reporting of
Exploration Results.
|
- Resources have been reported at a range of cut-off grades,
above a minimum suitable for open pit mining, and above a minimum
suitable for underground mining.
|
Othersubstantiveexplorationdata |
- Other
exploration data, if meaningful and material, should be reported
including (but not limited to): geological observations;
geophysical survey results; geochemical survey results; bulk
samples – size and method of treatment; metallurgical test results;
bulk density, groundwater, geotechnical and rock characteristics;
potential deleterious or contaminating substances.
|
- Extensive work in this area has been done and is reported
separately.
|
FurtherWork |
- The nature and scale of planned
further work (eg tests for lateral extensions or depth extensions
or large-scale step-out drilling).
- Diagrams clearly highlighting the
areas of possible extensions, including the main geological
interpretations and future drilling areas, provided this
information is not commercially sensitive.
|
- The mineralisation is open at depth and along strike.
- Current estimates are restricted to those expected to be
reasonable for open pit mining. Limited drilling below this depth
(-300m RLl) shows widths and grades potentially suitable for
underground extraction.
- Exploration on going.
|
1.3 JORC TABLE 1 -
SECTION 3 ESTIMATION AND REPORTING OF MINERAL
RESOURCES
Mineral Resources are not reported so this is
not applicable to this report.
1.4 JORC
TABLE 1 - SECTION 4 ESTIMATION AND REPORTING OF ORE
RESERVES
Ore Reserves are not reported so this is not
applicable to this report.
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