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ALDORO RESOURCES LIMITED — Capital/Financing Update 2019
Aug 20, 2019
64422_rns_2019-08-20_c98436ac-1be7-4017-a91d-1113fd270e26.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
21[st] August 2019
ALDORO GEARS UP TO DRILL LEINSTER NICKEL PROJECT
IN SEPTEMBER
-
High priority nickel sulphide targets confirmed following review of historical drilling and EM survey completed by ARN in 2018
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EM survey defined targets untested by previous drilling and located in apparent embayment in ultramafic unit
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PoW has been lodged and drillers contracted
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Drilling scheduled to be carried out in mid September
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Figure 1. Modelled conductors (yellow = high conductance) and historical drilling
over EM image (Channel 30 B-field Z Component)
along with RTP1VD aeromagnetics at Firefly.
LH image : All drilling. RH image : Drilling > 100m depth
Suite 2, 1 Altona Street, West Perth WA 6005 E: [email protected] W: aldororesources.com
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Aldoro Resources Ltd ( Aldoro or the Company ) is pleased to announce it is gearing up for its maiden drilling programme at the Firefly Prospect, part of the Leinster Nickel Project.
Drilling will test a series of bedrock conductors modelled within an intense, 1km scale electromagnetic ( EM ) anomaly which appears to be associated with the contact of a high magnetic response unit (Figures 1 and 2). The strength of this anomaly implies it is likely have a high conductance and therefore a higher probability of a result of accumulations of sulphide minerals.
This anomaly was detected in the Company’s high powered ground electromagnetic ( EM ) survey over the Firefly Prospect in December 2018 (refer ASX Announcement 18 December 2018). Subsequent modelling of the anomalies and investigation of historical drilling has confirmed that the higher priority anomalies remain untested by drilling (Figure 1). The majority of the drilling at the Firefly prospect is less than 100m in depth using RAB techniques, insufficient to test the conductors (Figure 1, Appendix 1).
Significantly the highest priority targets lie within an embayment of the high magnetic response unit which are commonly hosts for sulphide accumulation in komatiitic basalt flows which host mineralisation in the Eastern Goldfields Province. The Leinster Nickel Project covers mapped and interpreted ultramafic units located along strike from Talisman Mining’s Sinclair Nickel Project and BHP’s Leinster Nickel Operations, which include the Perseverance, Rockys Reward and Venus Deposits (Figure 3).
The higher magnetic responses in the Firefly area have previously been determined by drilling to correlate to ultramafic units with recent confirmation in drilling by Talisman Mining ( Talisman ) at the Amy Rix Prospect adjacent to Aldoro’s Leinster Nickel Project (refer Figure 2, ASX.TLM Announcement 20 May 2019 and ARN announcement 23 May 2019).
A Programme of Works was lodged with the Department of Mines, Industry Regulation and Safety and drilling contractors have been engaged. The Company looks forward to updating shareholders when drilling commences, anticipated to be mid September.
For and on behalf of the board:
Sarah Smith
Company Secretary
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Figure 2. Regional RTP1VD aeromagnetic image showing location of Amy Rix (TLM) and Firefly (ARN) along with target area (Fig 2).
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Figure 3. Aeromagnetic Image showing the Leinster Projects along with the location of the Firefly & North Sinclair Prospects.
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Competent Persons Statement
The information in this announcement that relates to Exploration Results and other technical information complies with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) and has been compiled and assessed under the supervision of Mr Bill Oliver, a Director of Aldoro Resources Ltd. Mr Oliver is a Member of the Australasian Institute of Mining and Metallurgy and the Australasian Institute of Geoscientists. He has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the JORC Code. Mr Oliver consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears. The Exploration Results are based on standard industry practises for drilling, logging, sampling, assay methods including quality assurance and quality control measures as detailed in Appendix 1.
Disclaimer
Some of the statements appearing in this announcement may be in the nature of forward looking statements. You should be aware that such statements are only predictions and are subject to inherent risks and uncertainties. Those risks and uncertainties include factors and risks specific to the industries in which Aldoro operates and proposes to operate as well as general economic conditions, prevailing exchange rates and interest rates and conditions in the financial markets, among other things. Actual events or results may differ materially from the events or results expressed or implied in any forward looking statement. No forward looking statement is a guarantee or representation as to future performance or any other future matters, which will be influenced by a number of factors and subject to various uncertainties and contingencies, many of which will be outside Aldoro’s control.
Aldoro does not undertake any obligation to update publicly or release any revisions to these forward looking statements to reflect events or circumstances after today's date or to reflect the occurrence of unanticipated events. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions or conclusions contained in this announcement. To the maximum extent permitted by law, none of Aldoro, its Directors, employees, advisors or agents, nor any other person, accepts any liability for any loss arising from the use of the information contained in this announcement. You are cautioned not to place undue reliance on any forward looking statement. The forward looking statements in this announcement reflect views held only as at the date of this announcement.
This announcement is not an offer, invitation or recommendation to subscribe for, or purchase securities by Aldoro. Nor does this announcement constitute investment or financial product advice (nor tax, accounting or legal advice) and is not intended to be used for the basis of making an investment decision. Investors should obtain their own advice before making any investment decision.
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APPENDIX ONE – Collar locations for holes shown on Figure 2.
| Site ID | Easting (AMG z51) |
Northing (AMG z51) |
Depth | Dip | Azi | Type |
|---|---|---|---|---|---|---|
| 06BWDC0001 | 292962 | 6876607 | 180 | -65 | 90 | RC |
| 06BWDC0002 | 292960 | 6876607 | 204 | -80 | 270 | RC |
| 06BWDC0003 | 292950 | 6876800 | 180 | -60 | 90 | RC |
| 06BWDR0131 | 293895 | 6876800 | 25 | -60 | 90 | RAB |
| 06BWDR0132 | 293860 | 6876800 | 25 | -60 | 90 | RAB |
| 06BWDR0133 | 293820 | 6876800 | 28 | -60 | 90 | RAB |
| 06BWDR0134 | 293780 | 6876800 | 28 | -60 | 90 | RAB |
| 06BWDR0135 | 293740 | 6876800 | 19 | -60 | 90 | RAB |
| 06BWDR0136 | 293700 | 6876800 | 14 | -60 | 90 | RAB |
| 06BWDR0137 | 293660 | 6876800 | 28 | -60 | 90 | RAB |
| 06BWDR0138 | 293620 | 6876800 | 19 | -60 | 90 | RAB |
| 06BWDR0139 | 293580 | 6876800 | 25 | -60 | 90 | RAB |
| 06BWDR0140 | 293540 | 6876800 | 25 | -60 | 90 | RAB |
| 06BWDR0141 | 293500 | 6876800 | 19 | -60 | 90 | RAB |
| 06BWDR0142 | 293940 | 6876300 | 16 | -60 | 90 | RAB |
| 06BWDR0143 | 293900 | 6876300 | 22 | -60 | 90 | RAB |
| 06BWDR0144 | 293860 | 6876300 | 25 | -60 | 90 | RAB |
| 06BWDR0145 | 293780 | 6876300 | 40 | -60 | 90 | RAB |
| 06BWDR0146 | 293740 | 6876300 | 27 | -60 | 90 | RAB |
| 06BWDR0147 | 293700 | 6876300 | 20 | -60 | 90 | RAB |
| 06BWDR0148 | 293620 | 6876300 | 19 | -60 | 90 | RAB |
| 06BWDR0149 | 293580 | 6876300 | 19 | -60 | 90 | RAB |
| 06BWDR0150 | 294320 | 6875900 | 46 | -60 | 90 | RAB |
| 06BWDR0151 | 294280 | 6875900 | 33 | -60 | 90 | RAB |
| 06BWDR0152 | 294240 | 6875900 | 39 | -60 | 90 | RAB |
| 06BWDR0153 | 294200 | 6875900 | 51 | -60 | 90 | RAB |
| 06BWDR0154 | 294160 | 6875900 | 65 | -60 | 90 | RAB |
| 06BWDR0155 | 294120 | 6875900 | 75 | -60 | 90 | RAB |
| 06BWDR0156 | 294080 | 6875900 | 55 | -60 | 90 | RAB |
| 06BWDR0157 | 294040 | 6875900 | 55 | -60 | 90 | RAB |
| 06BWDR0158 | 294000 | 6875900 | 40 | -60 | 90 | RAB |
| 06BWDR0159 | 293960 | 6875900 | 31 | -60 | 90 | RAB |
| 06BWDR0160 | 293920 | 6875900 | 27 | -60 | 90 | RAB |
| 06BWDR0161 | 293880 | 6875900 | 36 | -60 | 90 | RAB |
| 06BWDR0162 | 293840 | 6875900 | 36 | -60 | 90 | RAB |
| 06BWDR0163 | 293800 | 6875900 | 28 | -60 | 90 | RAB |
| 06BWDR0164 | 293760 | 6875900 | 20 | -60 | 90 | RAB |
| 06BWDR0165 | 293720 | 6875900 | 20 | -60 | 90 | RAB |
| 06BWDR0166 | 293680 | 6875900 | 20 | -60 | 90 | RAB |
| 06BWDR0167 | 293640 | 6875900 | 19 | -60 | 90 | RAB |
| 06BWDR0168 | 293600 | 6875900 | 20 | -60 | 90 | RAB |
| 06BWDR0169 | 293400 | 6875500 | 19 | -60 | 90 | RAB |
| 06BWDR0170 | 293360 | 6875500 | 19 | -60 | 90 | RAB |
| 06BWDR0171 | 293320 | 6875500 | 19 | -60 | 90 | RAB |
| 06BWDR0172 | 293280 | 6875500 | 19 | -60 | 90 | RAB |
| 06BWDR0173 | 293240 | 6875500 | 19 | -60 | 90 | RAB |
| 06BWDR0174 | 293200 | 6875500 | 19 | -60 | 90 | RAB |
| 06BWDR0175 | 293160 | 6875500 | 19 | -60 | 90 | RAB |
| 06BWDR0176 | 293120 | 6875500 | 13 | -60 | 90 | RAB |
| 06BWDR0177 | 293126 | 6875500 | 31 | -60 | 90 | RAB |
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| Site ID | Easting (AMG z51) |
Northing (AMG z51) |
Depth | Dip | Azi | Type |
|---|---|---|---|---|---|---|
| 07BWDR0001 | 293654 | 6875807 | 29 | -60 | 0 | RAB |
| 07BWDR0002 | 293688 | 6875792 | 43 | -60 | 0 | RAB |
| 07BWDR0003 | 293729 | 6875791 | 27 | -60 | 0 | RAB |
| 07BWDR0004 | 293767 | 6875795 | 36 | -60 | 0 | RAB |
| 07BWDR0005 | 293809 | 6875796 | 28 | -60 | 0 | RAB |
| 07BWDR0006 | 293854 | 6875798 | 29 | -60 | 0 | RAB |
| 07BWDR0007 | 293892 | 6875798 | 39 | -60 | 0 | RAB |
| 07BWDR0008 | 293928 | 6875769 | 38 | -60 | 0 | RAB |
| 07BWDR0009 | 293968 | 6875802 | 36 | -60 | 0 | RAB |
| 07BWDR0010 | 294010 | 6875799 | 48 | -60 | 0 | RAB |
| 07BWDR0011 | 294053 | 6875780 | 70 | -60 | 0 | RAB |
| 14RCFF001 | 294076 | 6876134 | 350 | -60 | 90 | RC |
| LWDR2403 | 294640 | 6873900 | 59 | -60 | 90 | RAB |
| LWDR2404 | 294560 | 6873900 | 48 | -60 | 90 | RAB |
| LWDR2405 | 294480 | 6873900 | 53 | -60 | 90 | RAB |
| LWDR2406 | 294400 | 6873900 | 53 | -60 | 90 | RAB |
| LWDR2407 | 294080 | 6873900 | 41 | -60 | 90 | RAB |
| LWDR2408 | 294000 | 6873900 | 49 | -60 | 90 | RAB |
| LWDR2409 | 294480 | 6875500 | 26 | -60 | 90 | RAB |
| LWDR2410 | 294400 | 6875500 | 38 | -60 | 90 | RAB |
| LWDR2411 | 294320 | 6875500 | 40 | -60 | 90 | RAB |
| LWDR2412 | 294240 | 6875500 | 55 | -60 | 90 | RAB |
| LWDR2413 | 294160 | 6875500 | 50 | -60 | 90 | RAB |
| LWDR2414 | 294080 | 6875500 | 47 | -60 | 90 | RAB |
| LWDR2415 | 294000 | 6875500 | 34 | -60 | 90 | RAB |
| LWDR2416 | 293820 | 6876300 | 24 | -60 | 90 | RAB |
| LWDR2417 | 293660 | 6876300 | 20 | -60 | 90 | RAB |
| LWDR2418 | 293500 | 6876300 | 7 | -60 | 90 | RAB |
| LWDR2419 | 293340 | 6876300 | 5 | -60 | 90 | RAB |
| LWDR2420 | 293180 | 6876300 | 5 | -60 | 90 | RAB |
| LWDR2421 | 293020 | 6876300 | 2 | -60 | 90 | RAB |
| LWDR2422 | 292860 | 6876300 | 3 | -60 | 90 | RAB |
| LWDR2423 | 292700 | 6876300 | 2 | -60 | 90 | RAB |
| LWDR2424 | 292540 | 6876300 | 5 | -60 | 90 | RAB |
| LWDR2425 | 292380 | 6876300 | 5 | -60 | 90 | RAB |
| LWDR2700 | 294680 | 6876600 | 53 | -60 | 90 | RAB |
| LWDR2701 | 294640 | 6876600 | 51 | -60 | 90 | RAB |
| LWDR2702 | 294600 | 6876600 | 50 | -60 | 90 | RAB |
| LWDR2703 | 294560 | 6876600 | 35 | -60 | 90 | RAB |
| LWDR2704 | 294520 | 6876600 | 29 | -60 | 90 | RAB |
| LWDR2705 | 294480 | 6876600 | 39 | -60 | 90 | RAB |
| LWDR2706 | 294440 | 6876600 | 59 | -60 | 90 | RAB |
| LWDR2707 | 294400 | 6876600 | 47 | -60 | 90 | RAB |
| LWDR2708 | 294360 | 6876600 | 56 | -60 | 90 | RAB |
| LWDR2709 | 294320 | 6876600 | 58 | -60 | 90 | RAB |
| LWDR2710 | 294280 | 6876600 | 37 | -60 | 90 | RAB |
| LWDR2711 | 294240 | 6876600 | 30 | -60 | 90 | RAB |
| LWDR2712 | 294200 | 6876600 | 49 | -60 | 90 | RAB |
| LWDR2713 | 294160 | 6876600 | 25 | -60 | 90 | RAB |
| LWDR2714 | 294120 | 6876600 | 60 | -60 | 90 | RAB |
| LWDR2715 | 294080 | 6876600 | 40 | -60 | 90 | RAB |
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| Site ID | Easting (AMG z51) |
Northing (AMG z51) |
Depth | Dip | Azi | Type |
|---|---|---|---|---|---|---|
| LWDR2716 | 294040 | 6876600 | 60 | -60 | 90 | RAB |
| LWDR2717 | 294000 | 6876600 | 59 | -60 | 90 | RAB |
| LWDR2718 | 293960 | 6876600 | 54 | -60 | 90 | RAB |
| LWDR2719 | 293920 | 6876600 | 60 | -60 | 90 | RAB |
| LWDR2720 | 293880 | 6876600 | 56 | -60 | 90 | RAB |
| LWDR2721 | 293840 | 6876600 | 58 | -60 | 90 | RAB |
| LWDR2722 | 293800 | 6876600 | 54 | -60 | 90 | RAB |
| LWDR2723 | 293760 | 6876600 | 63 | -60 | 90 | RAB |
| LWDR2724 | 293720 | 6876600 | 56 | -60 | 90 | RAB |
| LWDR2725 | 293680 | 6876600 | 59 | -60 | 90 | RAB |
| LWDR2726 | 293640 | 6876600 | 58 | -60 | 90 | RAB |
| LWDR2727 | 293600 | 6876600 | 53 | -60 | 90 | RAB |
| LWDR2728 | 293560 | 6876600 | 50 | -60 | 90 | RAB |
| LWDR2729 | 293520 | 6876600 | 54 | -60 | 90 | RAB |
| LWDR2730 | 293480 | 6876600 | 43 | -60 | 90 | RAB |
| LWDR2731 | 293440 | 6876600 | 40 | -60 | 90 | RAB |
| LWDR2732 | 293400 | 6876600 | 30 | -60 | 90 | RAB |
| LWDR2733 | 293360 | 6876600 | 20 | -60 | 90 | RAB |
| LWDR2734 | 293280 | 6876600 | 20 | -60 | 90 | RAB |
| LWDR2735 | 293200 | 6876600 | 20 | -60 | 90 | RAB |
Note: Further information relating to these holes are provided in Appendix 2.
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APPENDIX TWO - The following Tables are provided to ensure compliance with the JORC Code (2012) edition requirements for the reporting of the Exploration Results at the Leinster Project.
Section 1: Sampling Techniques and Data (Criteria in this section apply to all succeeding sections)
| 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. |
RC and RAB drilling sampled on a 4m or 1m basis. Sampling believed to be carried out using industry standard techniques to ensure representivity. |
| 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 (eg ‘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 (eg submarine nodules) may warrant disclosure of detailed information. |
All aspects of the determination of mineralisation are described in this table. RAB and RC drilling using these methods are considered appropriate first pass tests of a prospective area but have not tested the specific targets generated in Aldoro’s exploration. |
|
| 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 of standard tube, depth of diamond tails, face-sampling bit or other type, whether core is orientated and if so, by what method, etc). |
Reverse circulation and rotary air blast drilling. |
| Drill sample recovery | Method of recording and assessing core and chip sample recoveries and results assessed. |
No specific record of sample recoveries but no issues with recoveries are noted/ |
| Measures taken to maximise sample recovery and ensure representative nature of the samples. |
Industry standard techniques to maximise recovery are understood to have been used. |
|
| 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. |
No relationship noted but limited data at this stage of exploration. |
|
| 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. |
All drilling has been logged on both a qualitative (minerals present) and quantitative (percentage veins and sulphides). |
| Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. |
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| The total length and percentage of the relevant intersections logged. |
||
| If core, whether cut or sawn and whether quarter, half or all core taken. |
||
| Sub-sampling techniques and sample preparation |
If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. |
Drill samples understood to be riffle split (1m) or spear sampled (composite samples, 4m) |
| For all sample types, the nature, quality and appropriateness of the sample preparation technique. |
Standard lab preparation and sub sampling techniques used. |
|
| Quality control procedures adopted for all sub- sampling stages to maximise representivity of samples. |
Industry standard QA/QC procedures known to have been used by the companies involved. |
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| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| 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. |
Appropriate measures understood to have been used. | |
| Whether sample sizes are appropriate to the grain size of the material being sampled. |
Yes | |
| 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. |
RAB and RC samples drilled by LionOre (LWDR series) and Breakaway (07 series) analysed by Genalysis (a quality certified laboratory) by multi acid digest and ICP-OAES (code ATOES) RC samples drilled by Minotaur (14 series) analysed by ALS (a quality certified laboratory) using nitric aqua regia digestion and ICP-AES analysis (code ME- ICP41). This assay method is considered appropriate for the metals beinginvestigated. |
| 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. |
No hand held assay devices or geophysics tools used so not applicable |
|
| 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. |
Industry standard QA/QC procedures known to have been used by the companies involved but are not documented in WAMEX reports. |
|
| Verification of sampling and assaying |
The verification of significant intersections by either independent or alternative company personnel. |
No significant intersections presented |
| The use of twinned holes. | No twinned holes due to early stage of exploration | |
| Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. |
Data is historical data, not from exploration by Aldoro, and has been sourced and compiled from statutory reports to WA DMIRS. |
|
| Discuss any adjustment to assay data. | None. | |
| 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. |
Drill holes reported to have been located using handheld GPS with an accuracy of +/- 5 metres. |
| Specification of the grid system used. | The grid system for the drillholes is AMG 84, Zone 51. | |
| Quality and adequacy of topographic control. | Topographic data was obtained from public download of the relevant 1:250,000 scale map sheets. |
|
| Data spacing and distribution |
Data spacing for reporting of Exploration Results. | Drilling not done on consistent spacing. |
| 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. |
Not applicable | |
| Whether sample compositing has been applied. | No sample compositing | |
| 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. |
Drilling carried out on lines oriented perpendicular to regional stratigraphy |
| 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. |
Not known at this time. |
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| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| Sample security | The measures taken to ensure sample security. | No specific measures are documented |
| Audits or reviews | The results of any audits or reviews of sampling techniques and data. |
No audits or reviews have been carried out at this stage |
Section 2: Reporting of Exploration Results (Criteria listed in the preceding section also apply to this section)
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| Mineral tenement and land tenure status |
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 Leinster Project comprises two granted Exploration Licences (namely E36/0895 - “North Sinclair” and E36/0910 – “Camel Bore”) and two pending Exploration Licences (namely E36/0930 and E36/0929). The licences cover a land area of 205km2. Aldoro is the registered applicant for E36/0930 and E36/0929. Aldoro has entered into a term sheet with the current holder, Jindalee Resources Limited, to acquire an 80% interest in the non-gold rights at the North Sinclair (E36/0895) and Camel Bore (E36/0910) tenements. The tenement lies on the Weebo (PL N049440) and the Pinnacles (PL N049812) Pastoral Leases. The Project is within land where a Native Title claim application for determination has been made. The Darlot claim group have made the WC2018/005 Native Title Claim. The Native Title claim application currently remains active. There are two registered Aboriginal Heritage Sites within E36/0910. Refer to the Solicitors Report within the Prospectus for additional details. |
| The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area. |
The tenements are in good standing. | |
| Exploration done by other parties |
Acknowledgment and appraisal of exploration by other parties. |
Semi-continuous exploration for both nickel and gold has been undertaken in the district since the 1960s. Since 2000, following the discovery of the Thunderbox deposit, gold and nickel exploration increased in the region. Exploration completed includes geological mapping, geochemical sampling (rock, stream and soil), ground and aerial geophysical surveys, costeaning and percussion drilling. Drilling referred to in this announcement was carried out by LionOre Australia, Breakaway Resources and Minotaur Exploration. |
| Geology | Deposit type, geological setting and style of mineralisation. |
The Leinster Project lies within the northern sector of the Norseman-Wiluna Greenstone Belt, with the central portion of the Project straddling the Weebo – Mt Clifford greenstone belt and the eastern portion of the Project lying along the eastern limb of the Lawlers Anticline. |
| Drill hole Information | 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: |
All information is supplied in Appendix 1. |
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| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| • 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. |
Not applicable. | |
| Data aggregation 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. |
All drilling is shown on Figure 1 and tabulated in Appendix 1. |
| 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. |
No data aggregation used. | |
| The assumptions used for any reporting of metal equivalent values should be clearly stated. |
No metal equivalent values used. | |
| Relationship between mineralisation widths and intercept lengths |
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’). |
No information at this time |
| 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. |
Refer to Figures in body of text. |
| Balanced reporting | 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. |
All results have been reported. |
| Other substantive exploration data |
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. |
All relevant exploration data is shown on figures or included in previous ASX Announcements. |
| Further work | 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. |
As discussed in the text – drilling is planned to test the targets identified by Aldoro’s EM survey. |
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