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CASTILE RESOURCES LTD Regulatory Filings 2021

Jun 27, 2021

64710_rns_2021-06-27_9986af0e-b8a6-4536-93f3-a8b12bcae20b.pdf

Regulatory Filings

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ASX Announcement

28 June 2021

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LATEST HITS EXPAND HIGH GRADE GOLD ZONE AT ROVER 1

Castile Resources Limited ( ASX:CST ) ( Castile or the Company ) is pleased to advise assay that results from Hole 21CRD001A have expanded the high grade Jupiter Zone at Rover 1. The latest results reveal strong hits at good widths of high-grade gold with excellent accompanying copper and co-product results which greatly enhance the value of the ore. This hole is within the high-grade stringer zone at the base of the overall IOCG alteration system.

Significant intercepts from Hole 21CRD001A included:

  • 31.7m @ 8.6g/t Au with 0.8% Cu, 0.1% Bi and 3.3g/t Ag from 570.7m downhole

  • inc 11.5m @ 17.2 g/t Au with 1.1% Cu, 0.1% Bi and 3.8g/t Ag from 587.9m downhole

  • inc 5.7m @ 7.8 g/t Au with 0.7% Cu, 0.1% Co and 4g/t Ag from 571.1m downhole

  • 14.8m @ 6.5 g/t Au with 0.5% Cu, 0.7% Bi and 3.0 g/t Ag from 606.4m downhole

  • inc 1.3m @ 29.9 g/t Au with 0.6% Cu, 5.8% Bi, 4.2g/t Ag from 615.7m downhole

  • 16.5m @ 1.1% Cu with 12.7g/t Au, 0.1% Bi, 3.8g/t Ag from 582.9m downhole

  • inc 1.1m 3.9% Cu with 20.4 g/t Au, 6.7% Bi, 0.1% Co and 5g/t Ag from 614.9m downhole

  • inc 0.3m @ 12.0% Cu with 8.2g/t Au,0.2% Bi, 0.3% Co and 3.6 g/t Ag from 615.7m downhole

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REGISTERED OFFICE: 7/189 St Georges Terrace Perth WA 6000 ACN 124 314 085 T: +61 8 9488 4480 E: [email protected] W: www.castile.com.au

ASX Announcement

28 June 2021

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As with its nearest hole, 20CRD002 (previously announced), this latest hole (21CRD001A) has a broad high-grade intercept which contains three distinct much higher grade zones giving potential for bulk high-grade mining or more selective even higher grade mining options. The area beneath and down plunge is now being targeted with further navi-wedge cuts to try and further expand this rich zone.

Mark Hepburn, Managing Director of Castile commented: “These are superb results that expand the rich high-grade zone and show potential for it to extend even further. It was most pleasing to see a band of 12% copper as a bonus within the bulk intercept of this hole. This is another fantastic result for Castile as we progress toward development studies.”

ASSAYS IN HOLE 21CRD001-2 RETURN 49M OF COPPER MINERALISATION

Castile is also pleased to announce that results from Hole 21CRD001-2 which was positioned to trace the high-grade gold zone up into the overall IOCG also returned an enormous intercept of copper and gold typical of the overall IOCG mineralisation. The high-grade gold zones are traceable within this unit, but the gold results appear to tail off as it enters the bulk magnetite alteration of the IOCG with copper becoming the dominant commercial mineral. Very pleasingly, this hole also extends the known bulk copper-gold mineralisation which is now open above this hole (see Figure 1).

49.9m @ 1% Cu with 0.5g/t Au from 534.1m downhole

Figure 1: Hole 21CRD001-2 Intercepts a broad copper mineralised zone at Rover 1

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Mark Hepburn, Managing Director of Castile Resources commented: “This is yet another fantastic result that expands on the mineralised system and which importantly reinforces our current geological model. This increasing confidence in our understanding of the architecture at Rover 1 should allow us to become progressively bolder in our targeting, which will hopefully pave the way for further exploration success of a material scale”.

Table 1: Hole 21CRD001A - Significant Intercepts

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Table 2: Hole 21CRD001-2 Significant Intercepts

Project Deposit Hole_ID mFro
m
**MGA_E ** **MGA_N ** RL **EOH ** Dip MGA_Azi Commentary
Rover Rover_1 21CRD001-
2
463.65 359497 7787609 295 615.6 -70 350 6.2m @ 1.2% Cu with 0.7g/t Ag from 463.65m downhole
Rover Rover_1 21CRD001-
2
476.95 359497 7787609 295 615.6 -70 350 8.6m @ 0.7% Cu and 0.5g/t Ag from 476.95m downhole
Rover Rover_1 21CRD001-
2
487.65 359497 7787609 295 615.6 -70 350 13.7m@ 0.7% Cu and 0.4g/tAgfrom 487.65mdownhole
Rover Rover_1 21CRD001-
2
534.1 359497 7787609 295 615.6 -70 350 49.9m @ 1% Cu with 0.5g/t Au, 0.1% Co and
1g/t Ag from 534.1m downhole
Rover Rover_1 21CRD001-
2
544 359497 7787609 295 615.6 -70 350 inc 1.4m @ 3% Cu with 0.5g/t Au and
2g/t Ag from 544m downhole
Rover Rover_1 21CRD001-
2
577 359497 7787609 295 615.6 -70 350 inc 2m @ 2.3% Cu with 0.4g/t Au, 0.1% Bi, 0.1% Co and
1.5g/tAgfrom577mdownhole
Project Deposit Hole_ID mFrom MGA_E MGA_N RL EOH Dip MGA_Azi Commentary
Rover Rover_1 21CRD001-2 536.2 359497 7787609 295 615.6 -70 350 2.7m @ 0.7g/t Au with 0.4% Cu, 0% Bi, 0% Co and
0.5g/t Ag from 536.2m downhole
Rover Rover_1 21CRD001-2 547.2 359497 7787609 295 615.6 -70 350 5.3m @ 0.9g/t Au with 0.7% Cu, 0% Bi, 0.1% Co and
1.2g/t Ag from 547.2m downhole
Rover Rover_1 21CRD001-2 555 359497 7787609 295 615.6 -70 350 14.6m @ 0.7g/t Au with 1.2% Cu, 0% Bi, 0.1% Co and
1.4g/t Ag from 555m downhole
Rover Rover_1 21CRD001-2 557.45 359497 7787609 295 615.6 -70 350 inc 0.5m @ 3.2g/t Au with 1.5% Cu, 0.1% Bi and
1.3g/t Ag from 557.45m downhole

ASX Announcement

28 June 2021

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Mark Hepburn Managing Director Castile Resources Limited

For further information please contact: [email protected] Phone: +61 8 9488 4480 Castile Resources Limited 7/189 St Georges Terrace Perth, WA, 6000

Authorised by the board of Castile Resources Limited

Competent Person Statement

The exploration results contained in this report are based on, and fairly and accurately represent the information and supporting documentation prepared by Mark Savage. Mr Savage is a full-time employee of Castile, and a Member of The Australasian Institute of Mining and Metallurgy. Mr Savage has sufficient experience which 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 Australasian Code for Reporting of Exploration Results, Exploration Targets, Mineral Resources and Ore Reserves. Mr Savage consents to the inclusion in the report of the matters based on the exploration results in the form and context in which they appear.

The Mineral Resources contained in this announcement were first disclosed in the prospectus dated 3 December 2019 and released on the ASX market announcements platform on 12 February 2020 (“Prospectus”). Castile is not aware of any new information or data that materially affects the Mineral Resources included in these announcements. All material assumptions and technical parameters underpinning the estimates in the Prospectus continue to apply and have not materially changed.

Forward Looking Statements

Certain statements in this report relate to the future, including forward looking statements relating to Castile’s financial position and strategy. These forward-looking statements involve known and unknown risks, uncertainties, assumptions, and other important factors that could cause the actual results, performance, or achievements of Castile to be materially different from future results, performance or achievements expressed or implied by such statements. Actual events or results may differ materially from the events or results expressed or implied in any forward-looking statement and deviations are both normal and to be expected. Other than required by law, neither Castile, their officers nor any other person gives any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements will occur. You are cautioned not to place undue reliance on those statements

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria JORC Code explanation Commentary
Sampling Nature and quality of sampling (e.g. cut channels, random chips, or specific • All data used in the following sections at Rover 1 has been gathered from
techniques specialised industry standard measurement tools appropriate to the minerals diamond core. Multiple sizes have been used historically; HQ, NQ and BQ.
under investigation, such as down hole gamma sondes, or handheld XRF
instruments, etc.). These examples should not be taken as limiting the broad • Samples are selected to lie on geological boundaries, with intervals selected
meaning of sampling. of lengths between 0.1 to 1.1m. Samples are halved using an automatic core
Include reference to measures taken to ensure sample representivity and the saw then individual samples collected in prenumbered calico sample bags.
appropriate calibration of any measurement tools or systems used.
Aspects of the determination of mineralisation that are Material to the Public • To ensure representivity of analysis, field blanks and certified reference
Report. material is inserted in a nominal ratio of 1:20 samples.
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 • Sample recovery is recorded on retrieval of the core tube, measuring
samples from which 3 kg was pulverised to produce a 30 g charge for fire recovered core against drill string advance. No apparent relationship has
assay’). In other cases, more explanation may be required, such as where been observed between sample recovery and grade. No has sample bias due
there is coarse gold that has inherent sampling problems. Unusual to preferential loss or gain of fine or coarse material been noted.
commodities or mineralisation types (e.g. submarine nodules) may warrant
disclosure of detailed information.
Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast,
Drilling auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or standard
techniques tube, depth of diamond tails, face-sampling bit or other type, whether core is
oriented and if so, by what method, etc.).
Method of recording and assessing core and chip sample recoveries and
results assessed.
Drill sample Measures taken to maximise sample recovery and ensure representative
nature of the samples.
recovery 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.
Logging Whether core and chip samples have been geologically and geotechnically • All geological data has been visually logged and validated by the relevant area
logged to a level of detail to support appropriate Mineral Resource geologists, recording lithology, alteration, mineralisation, structure, veining,
estimation, mining studies and metallurgical studies. magnetic susceptibility and geotechnical data.
Whether logging is qualitative or quantitative in nature. Core (or costean, • Logging is quantitative in nature.
channel, etc.) photography. • All holes are logged completely.
The total length andpercentage of the relevant intersections logged.
Sub-sampling If core, whether cut or sawn and whether quarter, half or all core taken. • Diamond Drilling - Half-core niche samples, sub-set via geological features as
techniques and If non-core, whether riffled, tube sampled, rotary split, etc. and whether appropriate.
Criteria JORC Code explanation Commentary
sample sampled wet or dry. • Core undergoes total preparation.
preparation For all sample types, the nature, quality and appropriateness of the sample • For the 2021 field season, sample preparation process consists of;
preparation technique. o Half ore samples of between 0.5 to 3kg are whole crushed
Quality control procedures adopted for all sub-sampling stages to maximise using a Boyd Crusher to achieve a maximum sample size of
representivity of samples. 2mm.
Measures taken to ensure that the sampling is representative of the in-situ o A cone splitter is used to split 1kg of material which is
material collected, including for instance results for field duplicate/second- pulverised in a Keegor mill to a nominal 100µm particle size.,
half sampling. then roll mixed to homogenise the sample.
Whether sample sizes are appropriate to the grain size of the material being o The mill inserts a barren coarse flush after every sample.
sampled. o From the analysis sample, 40g is taken for fire assay, while a
0.2g potion is taken for acid digestion. These samples are
extracted from the packet with a spatula and weighed out.
• QA/QC is ensured during sampling via the use of sample ledgers, blanks,
standards and repeats.
• QA/QC is ensured during the assays process via the use of blanks, standards
and repeats at a NATA / ISO accredited laboratory.
• Repeatability is performed by selecting 1:20 coarse reject material as field
duplicates and re-assayed.
• The sample sizes are considered appropriate to the grainsize of the material
being sampled.
• The un-sampled half of diamond core is retained for check sampling if
required.
Quality of assay The nature, quality and appropriateness of the assaying and laboratory • Analysis of drill core for Au, Ag, Bi, Co, Cu, Pb and Zn is as follows;
data and procedures used and whether the technique is considered partial or total. o Gold (Au-AAS scheme – lower detection limit = 0.01ppm, upper
laboratory tests For geophysical tools, spectrometers, handheld XRF instruments, etc., the detection limit = 100ppm). A 30-40g charge of prepared sample
parameters used in determining the analysis including instrument make and is fused with a mixture of lead oxide, sodium carbonate, borax,
model, reading times, calibrations factors applied and their derivation, etc. silica and other reagents and then cupelled to yield a precious
Nature of quality control procedures adopted (e.g. standards, blanks, metal bead.
duplicates, external laboratory checks) and whether acceptable levels of o The bead is then dissolved in acid and analysed by atomic
accuracy (i.e. lack of bias) and precision have been established. absorption spectroscopy against matrix-matched standards.
o Samples returning assay values in excess of 100g/t Au were
repeated using the screen-fire method.
o Silver, bismuth, cobalt, copper, lead and zinc samples are
digested using a 4-acid digest.
o The subsequent solution is analysed by inductively coupled
plasma - atomic emission spectroscopy or by atomic absorption
spectrometry.
• No significant QA/QC issues have arisen in recent drillingresults.
Criteria JORC Code explanation Commentary
• These assay methodologies are appropriate for the style of mineral deposit
under consideration.
Verification of The verification of significant intersections by either independent or • Anomalous intervals as well as random intervals are routinely checked
sampling and alternative company personnel. assayed as part of the internal QA/QC process.
assaying The use of twinned holes. • Several twinned holes have been drilled with no significant issues highlighted.
Documentation of primary data, data entry procedures, data verification, • Primary data is collected on a ruggedised computer, on predefined and self-
data storage (physical and electronic) protocols. validating worksheets. This data is imported into a relational database
Discuss any adjustment to assay data. (DataShed) and is backed up regularly.
• All data used in the calculation of resources is compiled in databases which
are overseen and validated by senior geologists.
• Noprimaryassays data is modified in anyway.
Location of data Accuracy and quality of surveys used to locate drill holes (collar and down- • All data is spatially oriented by survey controls via direct pickups by the
points hole surveys), trenches, mine workings and other locations used in Mineral survey department. Drillholes are all surveyed downhole. Modern holes are
Resource estimation. surveyed by Gyro tools.
Specification of the grid system used. • All drilling and resource estimation is undertaken in MGA grid.
Quality and adequacy of topographic control. • Topographic control is generated from a combination of aerial
photogrammetry and ground-based surveys. This methodology is considered
adequate for the resource inquestion.
Data spacing and Data spacing for reporting of Exploration Results. • Drilling has been undertaken on a nominal 40x40m spacing, infilled to a
distribution Whether the data spacing and distribution is sufficient to establish the degree
nominal 20x20m spacing where significant mineralisation has been identified.
of geological and grade continuity appropriate for the Mineral Resource and • No compositing of primary samples is undertaken prior to analysis.
Ore Reserve estimation procedure(s) and classifications applied.
Whether sample compositing has been applied.
Orientation of Whether the orientation of sampling achieves unbiased sampling of possible • Drilling intersections are nominally designed to be normal to the orebody
data in relation to
structures and the extent to which this is known, considering the deposit type.

under consideration as far topography and economics allows.
geological If the relationship between the drilling orientation and the orientation of key • It is not considered that drilling orientation has introduced an appreciable
structure mineralised structures is considered to have introduced a sampling bias, this sampling bias.
should be assessed and reported if material.
Sample security The measures taken to ensure sample security. • Individual samples in calico samples are collected in groups of 5 and placed
into poly weave bags and secured with a zip-tie. All poly weave bags of a
submission are then placed within a bulka bag, which is then sealed before
delivery to a third-party transport service who provides a tracking number.
The transport contractor then relays the samples to the independent
laboratorycontractor.
Audits or reviews The results of any audits or reviews of sampling techniques and data. • Site generated data is routinely reviewed by the Castile corporate technical
team.

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria JORC Code explanation Commentary
Mineral Type, reference name/number, location and ownership including agreements • The Tennant Creek Project comprises 5 granted exploration leases.
tenement and or material issues with third parties such as joint ventures, partnerships, • Native title interests are recorded against the Tennant Creek tenements.
land tenure overriding royalties, native title interests, historical sites, wilderness or national
• The Tennant Creek tenements are held by Castile Resources exclusively.
status park and environmental settings. • Third party royalties exist across various tenements at Tennant Creek, over
The security of the tenure held at the time of reporting along with any known and above the Northern Territory government royalty.
impediments to obtaining a licence to operate in the area. • Castile operates in accordance with all environmental conditions set down as
conditions for grant of the leases.
• There are no known issues regarding security of tenure.
• There are no known impediments to continued operation.
Exploration Acknowledgment and appraisal of exploration by other parties. • The Tennant Creek area has an exploration and production history in excess of
done by other 100 years.
parties • The Rover area in particular has an intensive exploration history stretching
from the 1970’s.
Geology Deposit type, geological setting and style of mineralisation. • The Rover Project is presently considered to be associated with a southern
repeat of the 1860-1850Ma Warramunga Province, in particular, the
Paleoproterozoic Ooradidgee Formation, after recent geochronology work
undertaken by NTGS . This is a weakly metamorphosed succession of partly
tuffaceous sandstones and siltstones and turbidite shales. Locally the turbidite
metasediments are variably altered by hematite and silica flooding.
• Mineralisation is mainly of the Iron Ore Copper-Gold (IOCG) type, particularly
the Tennant Creek sub-type. Massive ironstone comprised of magnetite or
hematite +/-quartz is interpreted to be alteration of metasediments within a
structural trap.
• Copper manifests as of chalcopyrite, associated with breccia fill within
magnetite-quartz ironstones and Jasper/BIF that often form an alteration
transition to a chlorite alteration envelope. Pervasive sub-economic copper
levels can persist throughout the zone. Economic levels of copper are
dominantly contained in the lower massive magnetite zone of the ironstone
bodies, particularly where intense chlorite alteration replaces magnetite
laterally and at depth, grading into magnetite chlorite stringer zones. Gold
content is related to an increase in haematite dusted quartz veins, with
bonanza grades associated with massive pyrite with subordinate bismuthite.
Cobalt appears to have a direct relationship with pyrite.
• Lead and zinc mineralisation at Explorer 108 is associated with a brecciated,
dolomitised metasedimentaryunit,consistingof irregular, generallynarrow
Criteria JORC Code explanation Commentary
bands or veins of semi-massive sphalerite and galena. A basal “high-grade”
zone is present at the contact of the altered metasediments and lower felsic
volcaniclastic unit.
• It is postulated that Explorer 108 mineralisation is an analogue of Mt Isa style
base metal mineralisation.
Drill hole A summary of all information material to the understanding of the exploration • Exploration results are presented in Tables 1 and 2 of the ASX release dated
Information results including a tabulation of the following information for all Material drill 24/05/2021 related to this edition of JORC Table 1.
holes:
o easting and northing of the drill hole collar
o elevation or RL (Reduced Level – elevation above sea level in metres) of the
drill hole collar
o dip and azimuth of the hole
o down hole length and interception depth
o 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.
Data In reporting Exploration Results, weighting averaging techniques, maximum • Results are reported on a length weighted average basis.
aggregation and/or minimum grade truncations (e.g. cutting of high grades) and cut-off • Results are reported above a 1gm Au / Au Eq. cut-off / 1%m Pb + Zn and 1%m
methods grades are usually Material and should be stated. Cu.
Where aggregate intercepts incorporate short lengths of high-grade results • Results reported may include up to three metres of internal dilution below a
and longer lengths of low-grade results, the procedure used for such 0.5g/t Au / Au Eq. cut-off / 0.5% Pb + Zn / 0.5%m Cu.
aggregation should be stated and some typical examples of such aggregations • Metal equivalent values are reported based on the ratio of prevailing
should be shown in detail. commodity prices which are given above.
The assumptions used for any reporting of metal equivalent values should be
clearly stated.
Relationship These relationships are particularly important in the reporting of Exploration • Interval widths are reported as downhole width unless otherwise stated.
between Results.
mineralisation If the geometry of the mineralisation with respect to the drill hole angle is
widths and known, its nature should be reported.
intercept lengths If it is not known and only the down hole lengths are reported, there should be
_a clear statement to this effect(e.g. ‘down hole length, true width not known’). _
Diagrams Appropriate maps and sections (with scales) and tabulations of intercepts • Diagrams are presented in the ASX release dated 24/05/2021 related to this
should be included for any significant discovery being reported These should edition of JORC Table 1.
include, but not be limited to a plan view of drill hole collar locations and
appropriate sectional views.
Criteria JORC Code explanation Commentary
Balanced Where comprehensive reporting of all Exploration Results is not practicable, • Completed drilling where analysis is available is reported.
reporting representative reporting of both low and high grades and/or widths should be
practiced to avoid misleading reporting of Exploration Results.
Other Other exploration data, if meaningful and material, should be reported • Geological information related to the reported results is presented in the ASX
substantive including (but not limited to): geological observations; geophysical survey release dated 24/05/2021 related to this edition of JORC Table 1.
exploration results; geochemical survey results; bulk samples – size and method of
data treatment; metallurgical test results; bulk density, groundwater, geotechnical
and rock characteristics; potential deleterious or contaminating substances.
Further work The nature and scale of planned further work (e.g. tests for lateral extensions • Ongoing exploration and mine planning assessment continues to take place at
or depth extensions or large-scale step-out drilling). the Rover Project.
Diagrams clearly highlighting the areas of possible extensions, including the
main geological interpretations and future drilling areas, provided this
information is not commercially sensitive.

Section 3 Estimation and Reporting of Mineral Resources

(Criteria listed in section 1, and where relevant in section 2, also apply to this section.)

Criteria JORC Code explanation Commentary
Database Measures taken to ensure that data has not been corrupted by, for example, • No new Resource information is being presented.
integrity transcription or keying errors, between its initial collection and its use for
Mineral Resource estimation purposes.
Data validationprocedures used.
Site visits Comment on any site visits undertaken by the Competent Person and the • Mr Savage has been on-site supervising the drilling program relating to the
outcome of those visits. results under consideration.
If no site visits have been undertaken indicate why this is the case.
Geological Confidence in (or conversely, the uncertainty of) the geological interpretation • No new Resource information is being presented.
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.
• _Thefactors affecting continuity both of grade andgeology. _
Dimensions The extent and variability of the Mineral Resource expressed as length (along • No new Resource information is being presented.
strike or otherwise), plan width, and depth below surface to the upper and
lower limits of the Mineral Resource.
Estimation and The nature and appropriateness of the estimation technique(s) applied and key
• No new Resource information is being presented.
modelling assumptions, including treatment of extreme grade values, domaining,
techniques 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 (e.g. 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 basisfor using or not using grade cutting or capping. _
Criteria JORC Code explanation Commentary
The process of validation, the checking process used, the comparison of model
data to drill hole data, and use of reconciliation data if available.
Moisture Whether the tonnages are estimated on a dry basis or with natural moisture, • No new Resource information is being presented.
and the method of determination of the moisture content.
Cut-off The basis of the adopted cut-off grade(s) or quality parameters applied. • No new Resource information is being presented.
parameters
Mining factors Assumptions made regarding possible mining methods, minimum mining • No new Resource information is being presented.
or assumptions 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.
Metallurgical The basis for assumptions or predictions regarding metallurgical amenability. • No new Resource information is being presented.
factors or It is always necessary as part of the process of determining reasonable
assumptions 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.
Environmental Assumptions made regarding possible waste and process residue disposal • No new Resource information is being presented.
factors or options. It is always necessary as part of the process of determining reasonable
assumptions 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.
Bulk density Whether assumed or determined. If assumed, the basis for the assumptions. If • Bulk density of mineralisation at the Rover Project is variable, dependant on
determined, the method used, whether wet or dry, the frequency of the lithology, alteration and mineralisation.
measurements, the nature, size and representativeness of the samples. • Geological technicians perform routine density test-work on core samples of
The bulk density for bulk material must have been measured by methods that both host rock and mineralisation.
adequately account for void spaces (vugs, porosity, etc.), moisture and • Density measurements have been determined using the water immersion
differences between rock and alteration zones within the deposit. technique.
Discuss assumptionsfor bulk density estimates used in the evaluationprocess • Bulk densityis assigned bylithology.
Criteria JORC Code explanation Commentary
of the different materials.
Classification The basis for the classification of the Mineral Resources into varying • Resources are classified in line with JORC guidelines utilising a combination of
confidence categories. estimation quality parameters, and geological knowledge.
Whether appropriate account has been taken of all relevant factors (i.e. • This approach considers all relevant factors and reflects the Competent
relative confidence in tonnage/grade estimations, reliability of input data, Person’s view of the deposit.
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.
Audits or The results of any audits or reviews of Mineral Resource estimates. • Resource estimates are peer reviewed by the site technical team as well as
reviews Westgold’s Corporate technical team.
Discussion of Where appropriate a statement of the relative accuracy and confidence level in
• All currently reported resources estimates are considered robust, and
relative the Mineral Resource estimate using an approach or procedure deemed representative of deposits on a global scale.
accuracy/ appropriate by the Competent Person. For example, the application of • No production data exists to compare the resource estimate against.
confidence 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 withproduction data, where available.