AI assistant
ARIKA RESOURCES LIMITED — Capital/Financing Update 2015
Feb 16, 2015
64420_rns_2015-02-16_ef055c31-d203-44ac-8890-b75f701d1163.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
Suite 6, 245 Churchill Avenue Subiaco WA 6008 PO Box 1273 Subiaco WA 6904 Phone: +61 8 9217 3300 | Fax: +61 8 9388 3006
ASX Code: PLD 17 February 2015
Potential for Substantial Additional Resources at Admiral Bay
-
Exploration Target Range (ETR) of 170Mt–250Mt at a grade of 5.3%–7.5% ZnEq*
-
Potential for multiple higher-grade zones for 7Mt–20Mt at 9.2%–14.2% ZnEq ETR.
-
ETR is outside of the Mineral Resource Estimate (MRE) of 72Mt at 6.7% ZnEq
-
ETR and MRE combined would make Admiral Bay the largest undeveloped Zn-Pb-Ag project in Australia in terms of contained metal expressed as ZnEq
-
ETR and MRE combined would make Admiral Bay one the largest undeveloped Zn-PbAg projects globally in terms of contained metal expressed as ZnEq
PLD Corporation Limited ( ASX:PLD ) (“ PLD ” or “ the Company ”) is pleased to announce an Exploration Target Range (ETR) of 170Mt–250Mt at 5.3%-7.5% ZnEq (2.2–3.1% Zn, 2.5–3.6% Pb, 15–20g/t Ag) has been determined estimated for the 16 km mineralised corridor at the Admiral Bay Zinc Project. The ETR is additional to the previously reported Mineral Resource Estimate (MRE) of 72 Mt at 6.7% ZnEq[1] .
The ETR was estimated using past exploration data, including drilling results and seismic data, together with new observations of project drill core and a review of previous resource estimation modelling. The basis of the ETR is described in detail below.
Admiral Bay is a very strongly structurally-focused Mississippi Valley Type (MVT) deposit. The style and setting of mineralisation at Admiral Bay shows similarity to other carbonatedeposits, including Irish-type deposits and a sub-set of MVT deposits that are characterised by higher grades and better focus than ‘typical’ MVT systems like East Tennessee and Silesia.
Based on geological assessment, it is considered that multiple additional higher-grade zones could exist within the Admiral Bay mineralised system and that some of these could be of substantial scale. An ETR for these higher grade zones of 7–20 Mt at 3.3–5.0% Zn, 4.9–7.8% Pb, and 23–30 g/t Ag; 9.2–14.2% ZnEq has been estimated .
- Note that the potential quantities and grades are conceptual in nature, that there has been insufficient exploration to estimate Mineral Resources and that it is uncertain whether further exploration will result in the estimation of Mineral Resources.
Commenting on the ETR Managing Director Matt Gauci said:
“The MRE of 72Mt at 6.7% ZnEq and ETR of up to 250Mt underline Admiral Bay’s potential to be the largest undeveloped zinc deposit in Australia and one of the largest undeveloped zinc deposit globally. Positive discussions are continuing with a wide range of potential investors and partners.”
1 See PLD announcement to ASX on 25/11/14
Suite 6, 245 Churchill Avenue Subiaco WA 6008 PO Box 1273 Subiaco WA 6904 Phone: +61 8 9217 3300 | Fax: +61 8 9388 3006
Previous Exploration
The Admiral Bay Fault Zone (“ABFZ”) was targeted for hydrocarbon exploration in the early 1980’s. Base metal intersections in four wells along this zone lead CRA Exploration Pty Ltd (“CRAE”) to take out exploration licences over the area. CRAE explored the area from 1986 to 1992 and completed 18 drill holes for a total of 27,600 m within the current project area. CRAE also collected detailed seismic, gravity and aeromagnetic data.
The most recent phase of exploration was by Kagara Zinc Ltd (“Kagara”). Kagara completed 17 drill holes in 2007 and 2008, including daughter holes, of which 12 reached their target. All of this drilling was within M04/249 at the eastern end of the deposit. A resource estimate was reported by Coffey Mining Ltd for Kagara in 2008 and an economic evaluation based on this was completed by Snowden Mining Industry Consultants in 2010, followed by a Prefeasibility Study by RSV Australia Pty Ltd later in 2010.
Basis of the ETR
A detailed assessment of all existing data and resource estimates has been completed as part of PLD’s due diligence on the Admiral Bay project, including a detailed review of drill core. On this basis, Admiral Bay is interpreted to be a very strongly structurally-focused MVT deposit dominated by replacement-style mineralisation. The style and setting of mineralisation shows similarity to other carbonate-hosted deposits, including Irish-type deposits and a sub-set of MVT deposits (e.g. Polaris in Canada) that are characterised by higher grades and better continuity of mineralisation than ‘typical’ MVT systems like East Tennessee and Silesia.
All drill holes over a strike of 18 km along the ABFZ have intersected mineralisation of varying tenor, strongly supporting the continuity of a mineralised envelope. Together with the geological interpretation, this provides support for continuity of mineralisation and underpins the reporting of an Inferred Resource and Exploration Target under the 2012 JORC Code.
An additional implication of the interpreted style and controls on the deposit is that, with improved understanding of the system, it should be possible to target mineralisation more effectively than with many MVT deposits. The combination of understanding of alteration haloes and vectors, lithostratigraphic and structural modelling should support a robust targeting model to guide definition of high-grade zones.
The ETR in this report is based on the following observations and assumptions:
-
The fundamental control of mineralisation is the Admiral Bay Fault Zone.
-
The ABFZ is well constrained from geophysical data, principally seismic.
-
The seismic data also define the bioherm facies build-up at the top of the Goldwyer Formation, which is largely continuous in the footwall of the ABFZ.
-
The upper mineralised (zinc) zone forms a broad, shallowly dipping, stratigraphically controlled body of mineralisation within the upper Nita Formation above the Goldwyer Formation bioherm.
Suite 6, 245 Churchill Avenue Subiaco WA 6008 PO Box 1273 Subiaco WA 6904 Phone: +61 8 9217 3300 | Fax: +61 8 9388 3006
-
The lower mineralised (lead) zone is dominantly coarse-grained barite ± dolomite ± galena veins and dissolution breccia infill within the Goldwyer Formation bioherm.
-
The localisation and geometry of these mineralised zones within the Goldwyer and Nita Formations shows strong direct control by the ABFZ and the Goldwyer Formation bioherm.
-
Strong alteration and mineralisation was intersected in all completed holes along the 15 km cumulative strike of the Exploration Target. Potentially ore-grade ore-width mineralisation was intersected in all the sections drilled in the defined target area (Figures 1 and 2).
-
The hit-rate considering the combination of very wide-spaced drilling along the trend and closer-spaced drilling in the resource area strongly indicates very continuous mineralisation, much of it above potentially economic grade.
-
The indicated continuity of mineralisation, combined with the strong structural and lithostratigraphic control on mineralisation and the ability to identify the mineralised litho-structural position on seismic, supports the validity of estimating an Exploration Target along the drilled strike of the ABFZ.
Despite the sparse level of data, good continuity of mineralisation along strike is evident at cut-off grades of 5% ZnEq. To estimate the ETR, it is assumed that the targeting of these holes was not sufficiently precise such that they intersected mineralisation of a better tenor than that inferred between those holes; previous explorers did not have the data or detailed targeting models to support successful targeting of highest-grade zones.
-
A strike length of 10–15 km, additional to the Inferred Resource strike length, is interpreted based on previous drilling results and the interpreted continuity of the ABFZ from seismic data.
-
The known width and cumulative thickness of mineralisation is extrapolated from the Inferred Resource over the strike extension to derive a range of volumes for the target area.
-
The upper estimate for the grade of mineralisation is taken from the table of significant intersections at cut-off grades of 2% and 4% Zn+Pb (Table 4). The table was derived using a minimum width of 3 m without internal dilution.
-
The lower estimate of grade is taken from the 2008 block model at the same cut-off grades.
Potential for Additional Higher-grade Zones
Although the reported Inferred Resource is relatively low-grade, under 10% ZnEq, significant higher-grade intersections above 10% ZnEq occur in most of the holes that have tested the central axis of the deposit (Table 1). The three best Zn-rich intersections with zinc grades above 10% occur in the central part of the zone in the area drilled in more detail by Kagara, the best being 20 m at 8.3% Zn, 4.9% Pb and 36 g/t Ag in ABRD001.
It is concluded that higher-grade zones occur in the axial zone of the deposit. The widespaced drilling and resource estimation methodology have resulted in smoothing of estimated block grades and are likely to have underestimated the higher-grade component of the deposit.
Suite 6, 245 Churchill Avenue Subiaco WA 6008 PO Box 1273 Subiaco WA 6904 Phone: +61 8 9217 3300 | Fax: +61 8 9388 3006
The high-grade holes were targeted by following up the best mineralisation drilled by CRAE. Considering the style of mineralisation and wide-spaced drilling along the 18 km mineralised zone along the ABFZ, especially the wide-spaced reconnaissance drilling, it is considered likely that multiple additional higher-grade zones of exist that have not yet been intersected by drilling and that some of these could be of substantial scale.
More drilling will be required to represent the variability in the deposit and better define zones of high and low grade in the block model. While it is likely that quite close-spaced drilling will be required to define higher-grade zones within the deposit, improved understanding of the controls of high-grade mineralisation and of the litho-structural and geophysical signatures of high-grade zones, may allow more effective targeting of these zones.
The estimate of an Exploration Target for the higher-grade core of the deposit used the following observations and assumptions:
-
The core of the deposit is defined using a cut-off-grade of 6% Zn+Pb.
-
The average grade and cumulative width of significant intersections above cut-off is 11.5 m at 5% Zn and 7.8% Pb. This width is applied to the estimate on the basis that the mineralisation known is of similar style to that within the area of the Inferred Resource and that holes completed in the Exploration Target area show potential for similar mineralisation.
-
Good continuity of intersections at this grade is noted within the resource area along the strike of the deposit.
-
There is insufficient data to comment accurately on the continuity across strike; an estimate of the width of mineralisation above cut-off is taken as 50–70 m based on the spread of holes of this grade from the mapped trace of the ABFZ.
-
The strike extent of high-grade mineralisation is estimated at between 4 km and 6 km given that grade of this tenor is known from two sections along the total strike extent of known mineralisation.
-
The lower estimate of grade is taken from the 2008 block model and the upper estimate as the geometric mean of all significant intervals above cut-off.
Suite 6, 245 Churchill Avenue Subiaco WA 6008 PO Box 1273 Subiaco WA 6904 Phone: +61 8 9217 3300 | Fax: +61 8 9388 3006
Table 1 High-grade significant intersections at 8% Zn+Pb cut-off grade, no internal waste.
==> picture [417 x 223] intentionally omitted <==
Proposed Exploration Activities
Subject to successful due diligence and acquisition of the Admiral Bay Zinc Project, further exploration is planned to target coherent higher-grade zinc-rich areas within the Exploration Target and Inferred Resource areas. Planned work includes detailed re-logging of existing drill core, re-interpretation of available seismic data, acquisition and modelling of new seismic and other geophysical data, integrated targeting, and eventual drill testing.
Metal Equivalence
Zinc equivalent (ZnEq) calculation parameters are presented in Table 2. The metallurgical recoveries are derived from metallurgical testwork completed by CRAE and Kagara. It is PLD’s opinion that all elements included in the metal equivalent calculation have a reasonable potential to be recovered and sold. The calculation formula is ZnEq = Zn + 1.06Pb + 0.03Ag
Table 2 Zinc Equivalence Parameters
| Metal | Metal Price US$ |
Price in Assay units US$ |
Concentrate Recovery % |
Recovered Unit Pricing US$ |
ZnEq Factor1 |
|---|---|---|---|---|---|
| Zinc | 1.00/lb | 22.04per % | 90 | 19.84 | 1.0 |
| Lead | 1.00/lb | 22.04per % | 95 | 20.94 | 1.06 |
| Silver | 19/oz | 0.61perppm | 95 | 0.58 | 0.03 |
| 1 | Approximating to head grade |
Metal equivalents are highly dependent on the metal prices used to derive the equivalence formula. PLD notes that the metal equivalence method taken above is a simplified approach. Only preliminary metallurgical recoveries are available. The metal prices are assumed indicative LME prices and do not reflect the metal prices that a smelter would pay for concentrate nor are any smelter penalties or charges included in the calculation.
Suite 6, 245 Churchill Avenue Subiaco WA 6008 PO Box 1273 Subiaco WA 6904 Phone: +61 8 9217 3300 | Fax: +61 8 9388 3006
Figure 1: Tenements and drill hole locations showing the Inferred Mineral Resource and the Exploration Target along the 18km mineralised corridor
==> picture [416 x 73] intentionally omitted <==
==> picture [416 x 73] intentionally omitted <==
==> picture [416 x 73] intentionally omitted <==
==> picture [416 x 74] intentionally omitted <==
Figure 2: Drill-holes showing cumulative down-hole m% ZnEq with no cut-off grade
==> picture [417 x 286] intentionally omitted <==
Suite 6, 245 Churchill Avenue Subiaco WA 6008 PO Box 1273 Subiaco WA 6904 Phone: +61 8 9217 3300 | Fax: +61 8 9388 3006
FOR MORE INFORMATION:
Matt Gauci Managing Director T: +61 417 417 907
David Tasker Professional Public Relations T: +61 8 9388 0944
Competent Person Statement
The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the ‘JORC Code’) sets out minimum standards, recommendations and guidelines for Public Reporting in Australasia of Exploration Results, Mineral Resources and Ore Reserves. The Information contained in this announcement has been presented in accordance with the JORC Code and references to “Measured, Indicated and Inferred Resources” are to those terms as defined in the JORC Code.
The information in this report that relates to Geology and Exploration Results is based, and fairly reflects, information compiled by Dr Neal Reynolds, who is a Member of the Australian Institute of Geoscientists. Dr Reynolds is employed by CSA Global Pty Ltd, independent resource industry consultants. Dr Reynolds has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which 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’. Mr Jeffress consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
All parties have consented to the inclusion of their work for the purposes of this announcement. The interpretations and conclusions reached in this report are based on current geological theory and the best evidence available to the authors at the time of writing. It is the nature of all scientific conclusions that they are founded on an assessment of probabilities and, however high these probabilities might be, they make no claim for absolute certainty. Any economic decisions which might be taken on the basis of interpretations or conclusions contained in this report will therefore carry an element of risk.
Suite 6, 245 Churchill Avenue Subiaco WA 6008 PO Box 1273 Subiaco WA 6904 Phone: +61 8 9217 3300 | Fax: +61 8 9388 3006
Background
The Admiral Bay deposit was discovered in 1981 by Meridian Oil NL during petroleum exploration, and was subsequently acquired by CRAE, who undertook substantial exploration from 1986 to 1992. Kagara Ltd acquired the deposit from CRAE in 2004 and completed an exploration programme that lead to an Inferred Resource, as well as a pre-feasibility study to examine the viability of the project.
Location
The Admiral Bay Project is located in the coastal region of the Great Sandy Desert, on the southern edge of the Kimberley region some 140km south of Broome, Western Australia (Figure 1). The project area is located 70km east of the all-weather Great Northern Highway, which connects Port Hedland to Broome. Power is present nearby with the Broome Natural Gas Pipeline servicing the West Kimberley Power Project. The Ports of Broome and Derby provide port options servicing Western Australia's Kimberley region and currently support various exports.
Tenure
The Admiral Bay deposit is located within two granted Mining Licences (ML04/244 and ML04/249), which are valid until 20/3/2033 and one granted Exploration License (EL04/1610), which is valid until 3/9/2017. The minimum annual expenditure commitment is $248,100 and annual rents are $46,910. The tenements are currently in good standing with the WA Department of Mines and Petroleum.
Geology and Mineralisation
The Admiral Bay zinc-lead-silver-barite deposit is hosted by Ordovician sedimentary rocks within the Phanerozoic Canning Basin, an intracratonic rift-sag basin that underwent a complex multiphase depositional history extending from the Lower Ordovician to the Cretaceous. Lower Ordovician rift-phase sedimentary fill in the Willara and Kidson sub-basins is overlain by middle Ordovician to Silurian sag-phase sediments including evaporitic salt units. The overlying stratigraphy includes Devonian, Permian, Jurassic and Cretaceous clastic sequences overlain by Quaternary aeolian sand. The entire stratigraphic sequence above the Admiral Bay deposit is about 1200 m thick.
The Admiral Bay deposit occurs within shallow marine calcareous sediments of late Middle Ordovician age along the Admiral Bay Fault Zone (“ABFZ”) which forms the northern margin of the Willara Sub-basin. The deposit coincides with a major left-stepping relay or accommodation zone along the ABFZ termed the Great Sandy Accommodation Zone (“GSAZ”). Mineralisation occurs over a stratigraphic interval of 110-120 m, mostly within the Goldwyer and Nita Formations but extending into the overlying Bongabinni Formation, the lower part of the Caribuddy Group.
Drilling and interpretation of seismic data show the presence of a carbonate bioherm within the Goldwyer Formation along the ABFZ, with clean carbonates flanked by muddier facies. The bioherm has a clear linear distribution along the footwall side of the fault suggesting localisation due to shallow water over a footwall topographic high. The Nita Formation overlying the
Suite 6, 245 Churchill Avenue Subiaco WA 6008 PO Box 1273 Subiaco WA 6904 Phone: +61 8 9217 3300 | Fax: +61 8 9388 3006
bioherm is characterised by fine-grained micritic and bioclastic limestone interbedded with argillaceous and marl horizons.
Mineralisation is strongly localised along the ABFZ and can be divided into two principal zones:
-
A lower zone of lead-rich mineralisation, up to 15 m thick, associated with coarsegrained barite and strongly dolomitised host rocks, mainly within the Goldwyer Formation bioherm but extending into the lower Leo Member of the Nita Formation;
-
An upper zone of zinc-rich mineralisation, up to 20 m thick, occurring as disseminations and replacement in limestone of the upper Cudalgarra Member of the Nita Formation.
Mineralisation comprises pale yellow-brown sphalerite and coarse-grained galena with barite, ferroan dolomite and calcite gangue. Pyrite and marcasite are very rare. The upper zinc-rich mineralisation is dominantly replacement style, stratabound within favourable fine-grained micritic and bioclastic horizons of the upper Nita Formation interbedded with thin shale and marl beds. The lead-rich mineralisation occurs as very coarse-grained veins and infill of dissolution breccia as well as disseminations in strongly dolomitised host rock. Mineralisation in steeply dipping veins is interpreted to be directly controlled by ABFZ extensional displacement.
Based on the observed style of mineralisation and the consistent intersections of mineralisation along the strike of the ABFZ, good continuity of the upper zinc dominant mineralisation is indicated within a shallow-dipping zone of reactive host rocks in the upper Nita Formation. The lead-dominant mineralisation is best developed in the area of detailed drilling, but may be more widely developed but unrecognised due to limited drilling.
The strong spatial association of mineralisation with the ABFZ indicates that the fault zone acted as a focus for fluid flow into the host rocks as the basin dewatered, related to subsidence or later basin inversion. The geometry of the fault system focused mineralising brines from the basin onto the palaeohigh; the GSAZ may have played an important role in focusing fluids from the Willara sub-basin and from the Kidson Sub-basin to the southwest, forming a barrier channelling fluid flow onto the basement palaeohigh.
The association of the fault zone and the bioherm played a fundamental role in the deposition of the mineralisation. The bioherm on the palaeohigh was fractured and dolomitised and helped channel fluids into the overlying Nita Formation where micritic and bioclastic limestones provided optimal host rocks. The bioherm and arch may also have acted as a hydrocarbon and sour gas reservoir.
The setting and mineralisation controls resulted in a very large and strongly focused mineralising system. As a result, the Admiral Bay deposit has good continuity of mineralisation over a very long strike length.
Admiral Bay’s setting, localised in sag-phase calcareous sediments on a basement high at a rift margin, is shared by many major zinc-lead metal districts around the world, such as the central midlands of Ireland, the Basque-Cantabrian basin in northern Spain (which hosts the large Reocin Zn-Pb deposit), and the Macarthur Basin in the Northern Territory (which hosts the giant HYC ZnPb deposit).
The Admiral Bay deposit has generally been classified as Mississippi Valley Type (“MVT”; e.g. McCracken et al., 1997), a broad class of low-temperature carbonate-hosted Zn-Pb deposits. The
Suite 6, 245 Churchill Avenue Subiaco WA 6008 PO Box 1273 Subiaco WA 6904 Phone: +61 8 9217 3300 | Fax: +61 8 9388 3006
timing of mineralisation is poorly constrained and the Canning Basin and its hinterland have not experienced a significant orogenic event of the type considered to drive fluid systems in most typical MVT districts (Bradley and Leach, 2003). In these typical MVT districts such as the midcontinent US (e.g. Missouri, Central and East Tennessee), Silesia (Poland) and Pine Point (Canada), mineralisation is commonly much younger than the host rocks, controlled by palaeokarst systems, and is very irregular and usually quite low grade.
There is no evidence for a meteoric karst control at Admiral Bay or for a mineralisation event substantially younger than sedimentation. The setting, dominant replacive style of mineralisation, geometry, and strong control by an extensional fault are all consistent with formation early in the basin history. Admiral Bay shows greater similarities to a subset of MVT deposits, which tend to be more regular and higher grade, for example Reocin (Spain) and Polaris (Canada), and to the Irish-type deposits.
Historical Drilling Results
The main zone of mineralisation at Admiral Bay was sampled using diamond core drilling over several drilling campaigns undertaken by CRAE and Kagara. All drill holes were vertical. Higher grade (Zn or Pb > 5%) and/or substantial intersections (from 20–75 m) flag potential for highgrade zones within the mineralisation envelopes.
A total of 21 surface diamond drill holes were used for the Inferred Mineral Resource estimate, of which 11 were drilled by Kagara. The Inferred Resource occurs within a 2.1 km segment of an 18 km strike length of the ABFZ within the tenement area. Regional scout holes testing the same structural/mineralisation corridor along strike have intersected a number of zones of significant mineralisation. The high success rate of intersecting mineralisation in past drilling provides support for continuity of mineralisation along the ABFZ.
Comprehensive details of the drilling programme are provided public reports by PLD on 3/2/15.
Mineral Resource Estimates
Admiral Bay currently has an Inferred Resource of 72Mt, based on drilling along 2.1 km of the 18 km strike length of the ABFZ within the tenement area. The current Inferred Resource was initially estimated by Coffey Mining in 2008. Full details of the mineral resource estimations for Admiral Bay were public released by PLD on 25/11/14 and 10/2/15.
Suite 6, 245 Churchill Avenue Subiaco WA 6008 PO Box 1273 Subiaco WA 6904 Phone: +61 8 9217 3300 | Fax: +61 8 9388 3006
Table 3 Admiral Bay 2008 Mineral Resource Estimate
| Table 3 Admiral Bay 2008 Mineral Resource Estimate |
Table 3 Admiral Bay 2008 Mineral Resource Estimate |
Table 3 Admiral Bay 2008 Mineral Resource Estimate |
Table 3 Admiral Bay 2008 Mineral Resource Estimate |
Table 3 Admiral Bay 2008 Mineral Resource Estimate |
Table 3 Admiral Bay 2008 Mineral Resource Estimate |
Table 3 Admiral Bay 2008 Mineral Resource Estimate |
|---|---|---|---|---|---|---|
| INFERRED RESOURCE | ||||||
| Zone | Million Tonnes |
Zn (%) |
Pb (%) |
Ba (%) |
Ag (g/t) |
ZnEq* (%) |
| ZONE 1(CFM/NFM contact zone--high Zn/low Pb) | 21.9 | 3.8 | 0.9 | 7 | 14 | 5.2 |
| ZONE 2(NFM hosted zone--high Zn/high Pb) | 35.1 | 4 | 2.1 | 13 | 20 | 6.8 |
| ZONE 3(NFM hosted zone--low Zn/high Pb) | 24.6 | 0.1 | 2.7 | 28 | 8 | 3.2 |
| ZONE 6(NFM/GFM contact zone--low Zn/high Pb) | 15.1 | 0.1 | 7.5 | 15 | 21 | 8.7 |
| Higher Grade Zone(within above zones) | 20 | 3.2 | 5.8 | 25 | 10 | |
| TOTAL | 96.7 | 2.4 | 2.9 | 16 | 15 | 5.9 |
Notes:
-
Zones 1, 2 and 6 equate to 72 Mt at 3.1% Zn, 2.9% Pb, 18 g/t Ag and 11% Ba (6.7% ZnEq)
-
Inverse Distance (Power=2) Whole Block Estimates using 25mE by 25mN by 5mRL Parent Block Dimensions
-
Reported using a Zinc Equivalent lower cut-off grade of 2% where ZNEQ=ZN+(0.79PB)+(0.02AG)
-
Unconstrained and using ROUNDED figures.
-
Zinc-Lead-Barium-Silver Grade-Tonnage Distributions subdivided by JORC Resource Categories.
-
CFM = Cudalgarra Formation, NFM=Nita Formation, GFM=Goldwyer Formation (NB Kagara referred to the Bongabinni Formation as Cudalgarra Formation in their work)
-
- ZnEq is PLD 2015 formula Zn+1.06Pb+0.03Ag (see section above)