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CATALINA RESOURCES LTD — Capital/Financing Update 2019
Aug 19, 2019
64716_rns_2019-08-19_6b9ccfb2-4724-4a69-916b-72e8235fe669.pdf
Capital/Financing Update
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ASX Announcement 20 August 2019
SHREE MINERALS LTD
OUTSTANDING DRILL TARGETS IDENTIFIED AT GOLDEN CHIMNEY Highlights
- Regional and confirmatory infill auger sampling have identified outstanding drill targets at the Golden Chimney Project
ASX Code SHH
ACN 130 618 683
COMPANY DIRECTORS
Sanjay Loyalka Director and Company Secretary
Andy Lau Non-Executive Director
Amu Shah Non-Executive Director
Davide Bosio Non-Executive Director
CONTACT DETAILS
-
Rock chip assays up to 30 g/t Au and 15 g/t Bi confirm that the Golden Chimney East multi element geochemical anomaly is a significant drill target.
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Strong auger and rock chip assays at the Golden Chimney West prospect have identified coherent multi element anomalism over a length of 1.7 km on the limbs of a major fold axis.
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The anomalies at Golden Chimney East and Golden Chimney West indicate significant mineralised systems in previously undrilled areas.
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Drilling of defined targets to commence soon
Shree Minerals Ltd (“Shree” or the “Company”) is very pleased to advise that assays have now been received from a reconnaissance mapping, and infill auger soil sampling program at its Golden Chimney project, exploration licence E40/378 that consisted of 240 shallow, vertical auger holes drilled on a 100m x 50m spaced grid. Previous auger sampling by Shree, completed on a 200m x 100m grid, generated widespread, coherent near-surface gold and multi-element anomalies located over mafic and felsic volcanic rocks.
Fieldwork and the infill auger sampling have enhanced the geochemical anomalies at both Golden Chimney West and Golden Chimney East. Altered felsic volcanic rocks at Golden Chimney West are anomalous in Au, Bi and Ag. Previously unknown old gold workings were found at the Golden Chimney East gold and arsenic anomaly. Sampling of the mullock dumps returned assays up to 30 g/t Au.
Principal & Registered Office Unit 38 18 Stirling Highway NEDLANDS WA 6009
www.shreeminerals.com
T +61 8 6150 7565 F +61 8 9389 1199
SHREE MINERALS LIMITED | ACN 130 618 683 www.shreeminerals.com
GOLDEN CHIMNEY PROJECT
The project occupies an area of 65.4km² and is located 40km south of Leonora, within the prolifically mineralised Leonora Geological Terrain (Figure 1). Significant gold deposits in the area include the Sons of Gwalia Gold mine (1.9 Moz Au in reserve at a grade of 7.5 g/t Au), the King of the Hills Mine (resources of 380,000oz Au), Tower Hill (625,000oz Au in resources) and Ulysses (760,000oz Au in resources).
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Figure 1. Regional location of the Golden Chimney Project, E40/378.
Discussion of recent activity by Shree.
Shree’s recently completed infill auger exploration program consisted of 240 shallow, vertical auger holes drilled on a 100m x 50m spaced grid and completed using a 4WD mounted auger drill rig. The preferred sample horizon was either a carbonate rich layer (tested by hydrochloric acid) or, where absent, a soil colour change representing a redox soil horizon. At the end of each hole a sieved (-240 µ) sample was collected for analysis by a multi element assay method. Elements analysed included Au, As, Cu, Pb, Zn, Bi, Mo, Sn, Li, Rb, Ti, Ni and Co.
Assays from the infill auger program returned strong Au anomalism in several auger holes with grades up to 38.5 ppb Au supported by multi – element (Cu, As, Bi,) geochemistry. These assays have confirmed anomalies from the first auger program, allowing the company to review and confidently plan drilling programs and provide a better understanding of the geological controls on gold mineralisation.
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Figure 2 illustrates the geochemical soil contours derived from the completed auger traverses. Coherent near-surface gold anomalism is located over mostly mafic and felsic rocks as interpreted from aeromagnetic images and geological mapping. Aerial magnetic anomalies are coincident and parallel to geochemical contours, adding further weight to the validity of the geochemical anomalies.
Only the Golden Chimney prospect, illustrated in figure 2, has been drilled by previous workers.
Appendix 1 lists the infill auger sample coordinates, depth where the sample was taken in each hole and the gold (in ppb), As and Bi assays.
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Figure 2. Multi-element (Au, Cu) soil contours derived from Shree’s auger program. Also illustrated is the location of all auger samples and the interpreted position of the regional fold axis. The underlying image is the aerial magnetics.
Golden Chimney West and Golden Chimney East Prospects.
Multi-element anomalies have been outlined throughout the tenement, as illustrated in Figure 2. Both the Golden Chimney and Golden Chimney West anomalies are related to the same aeromagnetic anomaly. At Golden Chimney West anomalous geochemistry extends to the east around the fold axis into a north easterly orientation. Anomalous geochemistry then extends for a further 600m on the east limb of the fold axis, as illustrated in Figure 2.
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At the Golden Chimney West Prospect (see Figure 3), the main north westerly orientated 10 ppb Au contour is 900m long and is coincident with anomalous multi element geochemistry including As, Cu and Bi. Four separate areas are outlined by the very anomalous 20ppb Au geochemical contour and where individual soil assays up to 60 ppb Au and 5.7 ppm Bi have been received. These areas represent significant drill targets.
Historical rock chip assays up to 15 ppm Au have been recorded at Golden Chimney West. Fieldwork by Shree located outcropping altered, NW-SE striking felsic volcanic rocks. Alteration consisted of excess silica, chlorite, epidote and opaques. Significantly, this rock assayed 25 ppb Au and occurs within Shree’s geochemical contours.
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Figure 3. Golden Chimney West multi element geochemistry contours on the aerial photo. Auger sample locations are also shown. Four separate areas are outlined by the very anomalous 20ppb Au geochemical contour. Within these areas individual soil assays up to 60 ppb Au and 5.7 ppm Bi have been received.
A new coincident Au, Bi, Cu and As geochemical auger anomaly has been identified at the Golden Chimney East Prospect (Figure 4). Within the 20 ppb Au soil contour , i ndividual soil assays up to 38 ppb Au and 104 ppm As have been received . Figure 2 illustrates the regional location of Golden Chimney East.
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Fieldwork by Shree located previously unknown old prospecting gold workings (see insert in Figure 4). Several rock chip samples were collected from the old mullock dumps and assays up to 30.5 g/t Au were received. These dumps were made up of goethitic and calcareous felsic volcanics, containing thin quartz veinlets. The geochemical anomaly containing the old workings is at least 400m long in a NE SW direction. It represents an exception drill target .
Appendix 2 lists all rock chip samples collected and sample coordinates and lithologies.
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Figure 4. Golden Chimney East showing multi element geochemical contours. Auger sample locations are also shown. Photo insert shows the location of an old gold working and its proximity to the geochemical contours. Rock chip assays up to 30 g/t Au were received from sampling the mullock around the working. Within the 20 ppb Au soil contour , i ndividual soil assays up to 38 ppb Au and 104 ppm As have been received.
Next Steps
Target Generation Phase. The gold anomalies generated by the auger sampling have a scale and continuity that may indicate the presence of significant gold mineralisation. Some gold anomalies are reinforced by multi-element signatures which may confirm the presence of gold mineralisation. Aerial magnetic anomalies are also coincident and parallel to geochemical contours, adding further validity to the geochemistry. Also, new, previously untested areas, including Golden Chimney East, have exciting multi element anomalies that represent exceptional drill targets.
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Drilling of the defined targets phase. The company has commenced planning of drilling of the targets discussed in this announcement & has received the approval of a Program of Work (POW) by the WA Mines Department for the proposed drilling program. The preparatory work includes the completion of a statutory cultural heritage survey.
The drill program may consist of RC drilling of up to 10 -12 holes to depths of approximately 150 m. It is envisaged that drilling will commence in next few weeks.
Competent Person Statement
The review of historical exploration activities and results contained in this report is based on information compiled by Michael Busbridge, a Member of the Australian Institute of Geoscientists and a Member of the Society of Economic Geologists. He is a consultant to Shree Minerals Ltd. He has sufficient experience which is relevant to the style of mineralisation and types of deposits 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 (the JORC Code).
Michael Busbridge has consented to the inclusion in the report of the matters based on his information in the form and context in which it appears.
About Shree Minerals Limited
Shree Minerals Limited is an exploration and mine development company including being engaged in mining and production of iron ore and dense media magnetite at its Nelson Bay River Iron Project in the north-western Tasmania.
Contact Details
Sanjay Loyalka Executive Director +61 8 6150 7565
Davide Bosio Non-Executive Director +61 8 9263 5210
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APPENDIX 1. In fill auger sample details.
Auger Sample numbers, coordinates are in the MGA94 Zone 51 (GDA94), hole depths and assay data (Au, As, Bi).
| Sample_ID | Easting | Northing | Sample Depth, m |
Au **ppb ** |
As **ppm ** |
Bi **ppm ** |
Sample_ID | Easting | Northing | Sample Depth, m |
Au **ppb ** |
As **ppm ** |
Bi **ppm ** |
|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SMAA1073 | 334876 | 6756452 | 0.5 | 3 | 2.8 | 0.18 | SMAA1129 | 337876 | 6755901 | 0.5 | -0.5 | 5.4 | 0.06 | |
| SMAA1074 | 334874 | 6756400 | 0.5 | 2.5 | 2.4 | 0.22 | SMAA1130 | 337879 | 6755858 | 1 | 1 | 5.8 | 0.04 | |
| SMAA1076 | 334874 | 6756349 | 1 | 1 | 2 | 0.2 | SMAA1131 | 338098 | 6755451 | 0.1 | 3 | 6.8 | 0.26 | |
| SMAA1077 | 334870 | 6756301 | 0.5 | 3 | 3.8 | 0.26 | SMAA1132 | 338102 | 6755399 | 0.5 | 6 | 3.2 | 0.14 | |
| SMAA1078 | 334876 | 6756248 | 0.5 | 3.5 | 2.8 | 0.14 | SMAA1133 | 338103 | 6755344 | 1 | 5 | 2.6 | 0.1 | |
| SMAA1079 | 334877 | 6756199 | 0.5 | 5 | 3.2 | 0.18 | SMAA1134 | 338105 | 6755301 | 1 | 4 | 5.6 | 0.18 | |
| SMAA1080 | 334880 | 6756153 | 0.5 | 4.5 | 3 | 0.18 | SMAA1135 | 338107 | 6755254 | 0.5 | 2 | 3.4 | 0.24 | |
| SMAA1081 | 335115 | 6756197 | 1 | 1 | 3.2 | 0.2 | SMAA1136 | 338102 | 6755202 | 0.5 | 1.5 | 2.2 | 0.22 | |
| SMAA1082 | 335124 | 6756148 | 0.5 | 2.5 | 2.8 | 0.2 | SMAA1137 | 338105 | 6755156 | 0.5 | 2 | 2.6 | 0.2 | |
| SMAA1083 | 335124 | 6756102 | 0.5 | 3 | 2.8 | 0.16 | SMAA1138 | 338096 | 6755102 | 0.5 | 0.5 | 0.6 | 0.04 | |
| SMAA1084 | 335116 | 6756047 | 0.5 | 1 | 3.2 | 0.22 | SMAA1139 | 338345 | 6755621 | 0.5 | 8.5 | 3.6 | 0.16 | |
| SMAA1085 | 335127 | 6756000 | 0.5 | 1.5 | 2.2 | 0.2 | SMAA1140 | 338302 | 6755624 | 0.5 | 1.5 | 2.8 | 0.2 | |
| SMAA1086 | 335126 | 6755951 | 0.5 | 1.5 | 2.4 | 0.16 | SMAA1141 | 338360 | 6755524 | 0.5 | 1.5 | 3.6 | 0.22 | |
| SMAA1087 | 335125 | 6755901 | 0.5 | 1.5 | 2.6 | 0.2 | SMAA1142 | 338344 | 6755478 | 0.5 | 4.5 | 4.2 | 0.14 | |
| SMAA1088 | 335124 | 6755849 | 1 | 0.5 | 3.4 | 0.2 | SMAA1143 | 338349 | 6755421 | 0.5 | 6 | 5.2 | 0.18 | |
| SMAA1089 | 335130 | 6755805 | 0.5 | 1 | 2.8 | 0.2 | SMAA1144 | 338347 | 6755376 | 0.5 | 9.5 | 5.2 | 0.14 | |
| SMAA1090 | 335124 | 6755745 | 0.5 | 0.5 | 2.2 | 0.22 | SMAA1145 | 338354 | 6755326 | 0.5 | 6.5 | 3.4 | 0.16 | |
| SMAA1091 | 335124 | 6755702 | 0.5 | 3.5 | 2.2 | 0.1 | SMAA1146 | 339445 | 6754052 | 0.5 | 3.5 | 2.4 | 0.14 | |
| SMAA1092 | 335115 | 6755649 | 0.5 | 0.5 | 2.4 | 0.22 | SMAA1147 | 339499 | 6754053 | 0.5 | 3.5 | 3.6 | 0.08 | |
| SMAA1093 | 335132 | 6755604 | 0.5 | 1.5 | 2.2 | 0.16 | SMAA1148 | 339446 | 6754145 | 0.5 | 4 | 2.6 | 0.1 | |
| SMAA1094 | 335126 | 6755553 | 0.5 | 1 | 2.4 | 0.24 | SMAA1149 | 339447 | 6754202 | 0.5 | 4.5 | 2.4 | 0.1 | |
| SMAA1095 | 335123 | 6755500 | 0.5 | 4 | 2.6 | 0.22 | SMAA1151 | 339445 | 6754247 | 0.5 | 6.5 | 3 | 0.16 | |
| SMAA1096 | 335375 | 6755259 | 0.5 | 2.5 | 2.2 | 0.14 | SMAA1152 | 339442 | 6754298 | 0.5 | 2.5 | 3.4 | 0.2 | |
| SMAA1097 | 335375 | 6755312 | 0.5 | 1.5 | 2 | 0.16 | SMAA1153 | 339446 | 6754345 | 0.5 | 1.5 | 2 | 0.2 | |
| SMAA1098 | 335380 | 6755365 | 0.5 | 1 | 1.8 | 0.16 | SMAA1154 | 339449 | 6754399 | 0.5 | 2.5 | 1.8 | 0.2 | |
| SMAA1099 | 335369 | 6755411 | 0.5 | 3.5 | 2 | 0.18 | SMAA1155 | 339451 | 6754448 | 0.5 | 2.5 | 1.4 | 0.24 | |
| SMAA1100 | 335365 | 6755463 | 0.5 | 1.5 | 2.4 | 0.2 | SMAA1156 | 339192 | 6754456 | 0.5 | 3.5 | 2.8 | 0.2 | |
| SMAA1101 | 335375 | 6755511 | 0.5 | 3 | 2.2 | 0.12 | SMAA1157 | 339198 | 6754403 | 0.5 | 6.5 | 3 | 0.18 | |
| SMAA1102 | 335377 | 6755825 | 0.5 | 1.5 | 2.2 | 0.18 | SMAA1158 | 339206 | 6754351 | 0.5 | 3.5 | 3.6 | 0.18 | |
| SMAA1103 | 335378 | 6755871 | 0.5 | 1.5 | 4.8 | 0.22 | SMAA1159 | 339203 | 6754301 | 0.5 | 3 | 2.8 | 0.18 | |
| SMAA1104 | 335372 | 6755923 | 0.5 | 4 | 6.8 | 0.14 | SMAA1160 | 339199 | 6754248 | 0.5 | 3.5 | 2.2 | 0.14 | |
| SMAA1105 | 335371 | 6755969 | 0.5 | 2 | 3.2 | 0.22 | SMAA1161 | 339206 | 6754204 | 1 | 2.5 | 2.2 | 0.14 | |
| SMAA1106 | 335369 | 6756021 | 0.5 | 7 | 2.8 | 0.14 | SMAA1162 | 339203 | 6754158 | 1 | 4 | 2 | 0.12 | |
| SMAA1107 | 335375 | 6756073 | 0.5 | 0.5 | 3.6 | 0.22 | SMAA1163 | 339204 | 6754102 | 1.5 | 6 | 2.2 | 0.1 | |
| SMAA1108 | 335373 | 6756124 | 0.5 | 3 | 9 | 0.22 | SMAA1164 | 339205 | 6754057 | 1 | 7 | 2.4 | 0.08 | |
| SMAA1109 | 337627 | 6756032 | 0.5 | 30 | 3 | 0.14 | SMAA1165 | 339198 | 6754003 | 1 | 4 | 3 | 0.06 | |
| SMAA1110 | 337620 | 6755982 | 0.5 | 2 | 3.2 | 0.24 | SMAA1166 | 337251 | 6754704 | 0.5 | 3 | 33.2 | 0.16 | |
| SMAA1111 | 337629 | 6755932 | 0.5 | 1.5 | 2.8 | 0.22 | SMAA1167 | 337253 | 6754749 | 0.5 | 4.5 | 4.8 | 0.14 | |
| SMAA1112 | 337622 | 6755879 | 0.5 | 7.5 | 1.8 | 0.08 | SMAA1168 | 337256 | 6754649 | 0.5 | 3 | 3 | 0.1 | |
| SMAA1113 | 337623 | 6755830 | 0.5 | 8 | 2.8 | 0.14 | SMAA1169 | 337259 | 6754603 | 1 | 1.5 | 2.8 | 0.14 | |
| SMAA1114 | 337619 | 6755783 | 0.5 | 2.5 | 3 | 0.14 | SMAA1170 | 337260 | 6754552 | 1 | 1 | 2.4 | 0.24 | |
| SMAA1115 | 337623 | 6755729 | 0.5 | 3 | 3 | 0.12 | SMAA1171 | 337252 | 6754503 | 0.5 | 1 | 2.6 | 0.16 | |
| SMAA1116 | 337747 | 6755749 | 0.5 | 3.5 | 3.8 | 0.18 | SMAA1172 | 337252 | 675453 | 1 | 2.5 | 2.8 | 0.16 | |
| SMAA1117 | 337745 | 6755799 | 0.5 | 3.5 | 2.4 | 0.08 | SMAA1173 | 337252 | 6754401 | 0.5 | 2.5 | 3.6 | 0.1 | |
| SMAA1118 | 337750 | 6755847 | 0.5 | 1 | 1.6 | 0.04 | SMAA1174 | 337255 | 6754358 | 0.5 | 2.5 | 3.8 | 0.2 | |
| SMAA1119 | 337749 | 6755899 | 0.5 | 1.5 | 1.6 | 0.06 | SMAA1176 | 337252 | 6754297 | 1 | 3 | 4.6 | 0.12 | |
| SMAA1120 | 337753 | 6755955 | 0.5 | 7.5 | 2.2 | 0.14 | SMAA1177 | 337253 | 6754297 | 1 | 0.5 | 2.4 | 0.22 | |
| SMAA1121 | 337740 | 6755999 | 0.5 | 1 | 2 | 0.18 | SMAA1178 | 337254 | 6754203 | 1 | 0.5 | 2.4 | 0.22 | |
| SMAA1122 | 337876 | 6756207 | 0.5 | 1 | 2.6 | 0.16 | SMAA1179 | 337246 | 6754149 | 0.5 | 1.5 | 4 | 0.24 | |
| SMAA1123 | 337876 | 6756150 | 0.5 | 2 | 5 | 0.14 | SMAA1180 | 337254 | 6754109 | 0.5 | 2.5 | 2.6 | 0.2 | |
| SMAA1124 | 337749 | 6756103 | 1 | 9.5 | 3.2 | 0.08 | SMAA1181 | 337251 | 6754051 | 1 | 6 | 3 | 0.08 | |
| SMAA1126 | 337879 | 6756060 | 0.5 | 2.5 | 2.6 | 0.16 | SMAA1182 | 337253 | 6754001 | 1.5 | 2 | 2.6 | 0.12 | |
| SMAA1127 | 337873 | 6756003 | 0.1 | 1 | 2.8 | 0.14 | SMAA1183 | 337253 | 6753951 | 1 | 1.5 | 3.4 | 0.2 | |
| SMAA1128 | 337876 | 6755947 | 0.5 | 2 | 4.8 | 0.08 | SMAA1184 | 337762 | 6753422 | 0.5 | 3.5 | 3 | 0.1 |
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| Sample_ID | Easting | Northing | Sample Depth, m |
Au **ppb ** |
As **ppm ** |
Bi **ppm ** |
Sample_ID | Easting | Northing | Sample Depth, m |
Au **ppb ** |
As **ppm ** |
Bi **ppm ** |
|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SMAA1185 | 337754 | 6753374 | 0.5 | 4 | 2.6 | 0.08 | SMAA1253 | 335874 | 6752637 | 0.5 | 2 | 1.6 | 0.42 | |
| SMAA1186 | 337756 | 6753321 | 0.5 | 2.5 | 3.4 | 0.2 | SMAA1254 | 335878 | 6752584 | 1 | 3 | 2.6 | 0.2 | |
| SMAA1187 | 337755 | 6753274 | 0.5 | 5 | 4 | 0.04 | SMAA1255 | 335631 | 6752405 | 1 | 2.5 | 2.2 | 0.26 | |
| SMAA1188 | 337756 | 6753220 | 0.5 | 2.5 | 3.8 | 0.18 | SMAA1256 | 335624 | 6752445 | 0.5 | 1 | 1.8 | 0.32 | |
| SMAA1189 | 337749 | 6753169 | 0.5 | 5.5 | 10.6 | 0.06 | SMAA1257 | 335628 | 6752497 | 0.5 | 4 | 2.2 | 0.26 | |
| SMAA1190 | 337760 | 6753123 | 0.5 | 3 | 3.4 | 0.14 | SMAA1258 | 335631 | 6752554 | 0.5 | 3 | 2 | 0.66 | |
| SMAA1191 | 337624 | 6753051 | 0.5 | 1.5 | 2.8 | 0.14 | SMAA1259 | 335621 | 6752594 | 0.5 | 4.5 | 3 | 0.2 | |
| SMAA1192 | 337621 | 6753101 | 0.5 | 3.5 | 5.4 | 0.14 | SMAA1260 | 335620 | 6752658 | 0.5 | 3.5 | 2.8 | 0.42 | |
| SMAA1193 | 337623 | 6753145 | 0.5 | 9 | 36.2 | 0.24 | SMAA1261 | 335368 | 6752597 | 0.5 | 1.5 | 2.8 | 0.26 | |
| SMAA1194 | 337624 | 6753199 | 0.5 | 5 | 11.4 | 0.16 | SMAA1262 | 335372 | 6752547 | 0.5 | 5.5 | 1.6 | 0.12 | |
| SMAA1195 | 337623 | 6753254 | 0.5 | 38.5 | 104 | 0.82 | SMAA1263 | 335378 | 6752497 | 0.5 | 9 | 2.8 | 0.68 | |
| SMAA1196 | 337622 | 6753298 | 0.5 | 5.5 | 7.4 | 0.24 | SMAA1264 | 335374 | 6752456 | 0.5 | 23.5 | 3 | 0.36 | |
| SMAA1197 | 337368 | 6753460 | 0.5 | 4 | 1.2 | 0.1 | SMAA1265 | 335374 | 6752406 | 0.5 | 7.5 | 1.6 | 1.06 | |
| SMAA1198 | 337371 | 6753411 | 0.5 | 4.5 | 1.6 | 0.14 | SMAA1266 | 335371 | 6752352 | 0.5 | 8.5 | 1.8 | 0.28 | |
| SMAA1199 | 337369 | 6753361 | 0.5 | 2.5 | 2.8 | 0.12 | SMAA1267 | 335120 | 6752248 | 0.5 | 11 | 1 | 0.2 | |
| SMAA1200 | 337375 | 6753312 | 0.5 | 1 | 3.2 | 0.22 | SMAA1268 | 335128 | 6752299 | 0.5 | 10 | 1.6 | 0.5 | |
| SMAA1201 | 337377 | 6753262 | 0.5 | 5 | 4.4 | 0.18 | SMAA1269 | 335123 | 6752347 | 0.5 | 7.5 | 2 | 0.58 | |
| SMAA1202 | 337375 | 6753220 | 0.5 | 5.5 | 5 | 0.14 | SMAA1270 | 335129 | 6752395 | 0.5 | 7.5 | 1.8 | 0.62 | |
| SMAA1203 | 337374 | 6753159 | 0.5 | 10.5 | 4.6 | 0.16 | SMAA1271 | 335121 | 6752455 | 1.5 | 7 | 2 | 0.64 | |
| SMAA1204 | 337375 | 6753112 | 0.5 | 11.5 | 4 | 0.18 | SMAA1272 | 334868 | 6752295 | 1.5 | 1.5 | 1.2 | 0.26 | |
| SMAA1205 | 337373 | 6753062 | 0.5 | 9.5 | 3.6 | 0.22 | SMAA1273 | 334870 | 6752335 | 1 | 1.5 | 1.6 | 0.28 | |
| SMAA1206 | 337372 | 6753006 | 0.5 | 7 | 3.6 | 0.28 | SMAA1274 | 334872 | 6752385 | 0.5 | 1.5 | 1.6 | 0.28 | |
| SMAA1207 | 336997 | 6753005 | 0.5 | 7.5 | 3.6 | 0.22 | SMAA1276 | 334876 | 6752445 | 0.5 | 3 | 1.6 | 0.46 | |
| SMAA1208 | 336996 | 6753065 | 0.5 | 8 | 3.4 | 0.12 | SMAA1277 | 334871 | 6752485 | 0.5 | 4 | 2.2 | 0.5 | |
| SMAA1209 | 336996 | 6753111 | 0.5 | 6 | 3.6 | 0.14 | SMAA1278 | 334878 | 6752541 | 0.5 | 1.5 | 2.2 | 0.44 | |
| SMAA1210 | 336998 | 6753158 | 0.5 | 3.5 | 3.2 | 0.18 | SMAA1279 | 334877 | 6752592 | 1 | 2.5 | 2.4 | 0.36 | |
| SMAA1211 | 337006 | 6753209 | 0.5 | 5 | 3.4 | 0.22 | SMAA1280 | 334876 | 6752635 | 1.5 | 2.5 | 2.4 | 0.5 | |
| SMAA1212 | 337000 | 6753265 | 0.5 | 1.5 | 2.6 | 0.2 | SMAA1281 | 334875 | 6752695 | 1 | 0.5 | 2 | 0.36 | |
| SMAA1213 | 336999 | 6753307 | 0.5 | 5 | 3.4 | 0.22 | SMAA1282 | 334870 | 6752734 | 0.5 | 1.5 | 2.6 | 0.24 | |
| SMAA1214 | 336997 | 6753355 | 0.5 | 1.5 | 2 | 0.14 | SMAA1283 | 334877 | 6752785 | 0.5 | 0.5 | 2.4 | 0.46 | |
| SMAA1215 | 337001 | 6753413 | 1 | 2 | 1.6 | 0.04 | SMAA1284 | 334870 | 6752835 | 0.5 | 2 | 3.2 | 0.28 | |
| SMAA1216 | 337002 | 6753455 | 0.5 | 5 | 2.4 | 0.14 | SMAA1285 | 334879 | 6752881 | 0.5 | 1 | 2.6 | 0.22 | |
| SMAA1217 | 336749 | 6753251 | 0.5 | 5.5 | 2.8 | 0.16 | SMAA1286 | 334875 | 6752946 | 0.5 | -0.5 | 2.8 | 0.26 | |
| SMAA1218 | 336753 | 6753204 | 0.5 | 3 | 3.4 | 0.24 | SMAA1287 | 334880 | 6752990 | 0.5 | 2.5 | 3.2 | 0.34 | |
| SMAA1219 | 336754 | 6753150 | 0.5 | 5.5 | 2.6 | 0.18 | SMAA1288 | 334631 | 6753056 | 1 | 1 | 1.8 | 0.42 | |
| SMAA1220 | 336756 | 6753101 | 0.5 | 1.5 | 3 | 0.24 | SMAA1289 | 334619 | 6753002 | 1 | 1 | 1.8 | 0.42 | |
| SMAA1221 | 336754 | 6753054 | 0.5 | 3.5 | 2.8 | 0.22 | SMAA1290 | 334623 | 6752945 | 1 | 1 | 2 | 0.42 | |
| SMAA1222 | 336754 | 6753004 | 0.5 | 3 | 3 | 0.2 | SMAA1291 | 334630 | 6752899 | 1.5 | 1.5 | 2.2 | 0.42 | |
| SMAA1223 | 336624 | 6752950 | 0.5 | 2 | 3.2 | 0.3 | SMAA1292 | 334626 | 6752849 | 0.5 | 1.5 | 2.2 | 0.38 | |
| SMAA1224 | 336625 | 6752999 | 0.5 | 3 | 3.2 | 0.26 | SMAA1293 | 334628 | 6752805 | 1 | 0.5 | 2.6 | 0.34 | |
| SMAA1226 | 336628 | 6753051 | 0.5 | 4.5 | 3.6 | 0.24 | SMAA1294 | 334621 | 6752754 | 1 | 1 | 2.2 | 0.34 | |
| SMAA1227 | 336626 | 6753099 | 0.5 | 3 | 3.6 | 0.24 | SMAA1295 | 334624 | 6752699 | 0.5 | 6 | 2.8 | 0.74 | |
| SMAA1228 | 336630 | 6753154 | 0.5 | 6 | 3.4 | 0.2 | SMAA1296 | 334631 | 6752643 | 1 | 5.5 | 3.6 | 0.76 | |
| SMAA1229 | 336373 | 6753308 | 0.5 | 3 | 5 | 0.26 | SMAA1297 | 334624 | 6752605 | 0.5 | 1.5 | 2.4 | 0.28 | |
| SMAA1230 | 336377 | 6753260 | 1 | 3 | 2.6 | 0.08 | SMAA1298 | 334632 | 6752554 | 0.5 | 9.5 | 2.2 | 0.4 | |
| SMAA1231 | 336373 | 6753211 | 0.5 | 1 | 3 | 0.28 | SMAA1299 | 334627 | 6752504 | 0.5 | 10.5 | 2.8 | 0.28 | |
| SMAA1232 | 336373 | 6753165 | 0.5 | 3 | 3.6 | 0.22 | SMAA1300 | 334376 | 6752704 | 0.5 | 5.5 | 0.8 | 0.44 | |
| SMAA1233 | 336373 | 6753112 | 0.5 | 2 | 3.2 | 0.34 | SMAA1301 | 334378 | 6752751 | 0.5 | 8.5 | 1.6 | 1.02 | |
| SMAA1234 | 336379 | 6753060 | 0.5 | 1.5 | 2.6 | 0.3 | SMAA1302 | 334376 | 6752802 | 1 | 16 | 3.4 | 0.48 | |
| SMAA1235 | 336372 | 6753010 | 0.5 | 1 | 2.6 | 0.28 | SMAA1303 | 334371 | 6752849 | 0.5 | 27 | 2.8 | 2.3 | |
| SMAA1236 | 336375 | 6752965 | 0.5 | 1.5 | 2.6 | 0.22 | SMAA1304 | 334376 | 6752895 | 0.5 | 9.5 | 3.2 | 0.72 | |
| SMAA1237 | 336379 | 6752910 | 0.5 | 1.5 | 3 | 0.2 | SMAA1305 | 334368 | 6752942 | 0.5 | 5 | 2.6 | 0.62 | |
| SMAA1238 | 336373 | 6752859 | 0.5 | 5.5 | 5.4 | 0.24 | SMAA1306 | 334378 | 6753001 | 0.5 | 2 | 2.8 | 0.52 | |
| SMAA1239 | 336370 | 6752812 | 0.5 | 5 | 3 | 0.18 | SMAA1307 | 334379 | 6753054 | 0.5 | 3 | 3.4 | 0.42 | |
| SMAA1240 | 336378 | 6752759 | 0.5 | 5.5 | 4 | 0.2 | SMAA1308 | 334376 | 6753104 | 0.5 | 5.5 | 3.2 | 0.32 | |
| SMAA1241 | 336128 | 6752647 | 0.5 | 1.5 | 2.2 | 0.14 | SMAA1309 | 334374 | 6753149 | 0.5 | 5.5 | 2.2 | 0.58 | |
| SMAA1242 | 336130 | 6752949 | 0.5 | 4 | 3.4 | 0.14 | SMAA1310 | 334379 | 6753204 | 1 | 2.5 | 2.8 | 0.58 | |
| SMAA1243 | 336121 | 6752895 | 0.5 | 1.5 | 3 | 0.54 | SMAA1311 | 334120 | 6753019 | 0.5 | 1.5 | 1.8 | 0.38 | |
| SMAA1244 | 336130 | 6752856 | 0.5 | 1 | 2.8 | 0.28 | SMAA1312 | 334119 | 6752960 | 0.5 | 10 | 3.8 | 0.74 | |
| SMAA1245 | 336128 | 6752805 | 1 | 2 | 2.8 | 0.28 | SMAA1313 | 334126 | 6752908 | 0.5 | 4.5 | 2.6 | 0.48 | |
| SMAA1246 | 336124 | 6752746 | 0.5 | 1.5 | 2.2 | 0.22 | SMAA1314 | 334129 | 6752860 | 0.5 | 2 | 2.2 | 0.92 | |
| SMAA1247 | 336128 | 6752708 | 0.5 | 1 | 2 | 0.22 | SMAA1315 | 334124 | 6752810 | 0.5 | 2 | 2 | 1.06 | |
| SMAA1248 | 335871 | 6752835 | 1 | 2.5 | 2.4 | 0.4 | SMAA1316 | 334124 | 6752762 | 1 | 3 | 1 | 0.18 | |
| SMAA1249 | 335870 | 6752785 | 1 | 2 | 2.6 | 0.4 | ||||||||
| SMAA1251 | 335872 | 6752732 | 0.5 | 2 | 2.2 | 0.4 | ||||||||
| SMAA1252 | 335882 | 6752685 | 1 | 2.5 | 2.2 | 0.32 |
Page | 8
APPENDIX 2. Rock chip sample details. Assays in ppm unless noted otherwise. Coordinates are in the MGA94 Zone 51 (GDA94).
.
| Sample ID |
Easting | Northing | Comments | Au **ppb ** |
As | Cu | Bi |
|---|---|---|---|---|---|---|---|
| 1015001 | 336653 | 6753300 | Quartz veiningin sheared mafic rock. | 2.5 | 9.6 | 161 | 0.1 |
| 1015002 | 336565 | 6753438 | Quartz veiningwith box-works in sheared mafic rock. | 177 | 19.8 | 164 | 2.06 |
| 1015003 | 336565 | 6753438 | Altered felsic volcanic containing quartz and opaques. | 1110 | 35 | 197 | 0.8 |
| 1015004 | 334312 | 6752888 | Opaque rich veinquartz. | 12 | 1.2 | 127 | 5.08 |
| 1015005 | 334370 | 6752835 | Silicic felsic with tinyopaques and applegreen alteration. | 7 | 1.2 | 18 | 0.82 |
| 1015006 | 334370 | 6752835 | Silicic felsic with tiny opaques and apple green alteration, quartz veins. |
8 | 1.6 | 18 | 1.1 |
| 1015007 | 334436 | 6752835 | Random samplingof float rocks | 24 | 1.2 | 21 | 2.4 |
| 1015008 | 336556 | 6753369 | Old RAB HOLE RCGC015 from Golden Chimney. 0-4m | 3.5 | 34.2 | 11 | 0.12 |
| 1015009 | 336556 | 6753369 | Old RAB HOLE RCGC015 from Golden Chimney. 4-8m | 0.5 | 22.8 | 9 | 0.04 |
| 1015010 | 336556 | 6753369 | Old RAB HOLE RCGC015 from Golden Chimney. 8-12m | 0.5 | 11.8 | 13 | 0.06 |
| 1015011 | 336556 | 6753369 | Old RAB HOLE RCGC015 from Golden Chimney. 12-16m | 0.5 | 12 | 15 | 0.08 |
| 1015012 | 336556 | 6753369 | Old RAB HOLE RCGC015 from Golden Chimney. 16-18m,EOH | 0.5 | 15.4 | 8 | 0.06 |
| 1015013 | 336568 | 6753360 | Old RAB HOLE RCGC016 from Golden Chimney. 0-4m | 7.5 | 27.2 | 14 | 0.08 |
| 1015014 | 336568 | 6753360 | Old RAB HOLE RCGC016 from Golden Chimney. 4-8m | 0.5 | 18.2 | 10 | 0.12 |
| 1015015 | 336568 | 6753360 | Old RAB HOLE RCGC016 from Golden Chimney. 8-12m | -0.5 | 9.8 | 6 | 0.04 |
| 1015016 | 336568 | 6753360 | Old RAB HOLE RCGC016 from Golden Chimney. 12-16m | 0.5 | 10.4 | 9 | 0.02 |
| 1015017 | 336568 | 6753360 | Old RAB HOLE RCGC016 from Golden Chimney. 16-18m,EOH | 1 | 9.8 | 7 | 0.9 |
| 1015018 | 336578 | 6753348 | Old RAB HOLE RCGC018 from Golden Chimney. 0-4m | 6 | 92.4 | 16 | 0.18 |
| 1015019 | 336578 | 6753348 | Old RAB HOLE RCGC018 from Golden Chimney. 0-4m | 0.5 | 36 | 9 | 0.08 |
| 1015020 | 336578 | 6753348 | Old RAB HOLE RCGC018 from Golden Chimney. 0-4m | -0.5 | 21.4 | 10 | 0.06 |
| 1015021 | 336578 | 6753348 | Old RAB HOLE RCGC018 from Golden Chimney. 0-4m | -0.5 | 11.8 | 6 | 0.04 |
| 1015022 | 336578 | 6753348 | Old RAB HOLE RCGC018 from Golden Chimney. 0-4m | -0.5 | 9.4 | 10 | 0.02 |
| 1015023 | 337563 | 6753088 | Goethite rich andquartz veiningin softyellow felsic schist. | 7.5 | 30 | 39 | 4.38 |
| 1015024 | 337505 | 6753177 | Quartz rich ironstones surroundingshaft mullock dump. | 7700 | 49.8 | 30 | 1.58 |
| 1015025 | 337505 | 6753177 | Ferruginous vein in felsic volcanic saprolite,mullock dump. | 30500 | 32.8 | 53 | 15.2 |
| 1015026 | 336585 | 6753340 | Old RAB HOLE RCGC019 from Golden Chimney. 0-4m | 14.5 | 145 | 44 | 0.46 |
| 1015027 | 336585 | 6753340 | Old RAB HOLE RCGC019 from Golden Chimney. 4-8m | 31.5 | 248 | 63 | 0.48 |
| 1015028 | 336585 | 6753340 | Old RAB HOLE RCGC019 from Golden Chimney.8-12m | 10.5 | 529 | 51 | 0.5 |
| 1015029 | 336585 | 6753340 | Old RAB HOLE RCGC019 from Golden Chimney. 12-16m | 9.5 | 68 | 24 | 0.16 |
| 1015030 | 336585 | 6753340 | Old RAB HOLE RCGC019 from Golden Chimney. 16-18m,EOH | 93.5 | 93.4 | 38 | 0.46 |
| 1015031 | 336594 | 6753328 | Old RAB HOLE RCGC020 from Golden Chimney. 0-4m | 13.5 | 563 | 138 | 1.72 |
| 1015032 | 336594 | 6753328 | Old RAB HOLE RCGC020 from Golden Chimney. 4-8m | 7 | 112 | 160 | 1.22 |
| 1015033 | 336594 | 6753328 | Old RAB HOLE RCGC020 from Golden Chimney. 8-12m | 4 | 143 | 320 | 0.76 |
| 1015034 | 336594 | 6753328 | Old RAB HOLE RCGC020 from Golden Chimney.12-16,EOH | 5.5 | 122 | 371 | 0.7 |
| 1015035 | 336609 | 6753310 | Old RAB HOLE RCGC021 from Golden Chimney. 0-5m | 12 | 46 | 58 | 0.64 |
| 1015036 | 336609 | 6753310 | Old RAB HOLE RCGC020 from Golden Chimney. 5-9,EOH | 4 | 34.8 | 96 | 0.3 |
| 1015037 | 336600 | 6753310 | Old RAB HOLE RCGC022 from Golden Chimney. 0-4m | 4 | 37.2 | 47 | 0.66 |
| 1015038 | 336609 | 6753310 | Old RAB HOLE RCGC022 from Golden Chimney.4-8m | 1.5 | 20.4 | 52 | 0.08 |
| 1015039 | 336609 | 6753310 | Old RAB HOLE RCGC022 from Golden Chimney. 8-12m | 2 | 12.8 | 58 | 0.36 |
| 1015040 | 336609 | 6753310 | Old RAB HOLE RCGC022 from Golden Chimney.12-16,EOH | 15 | 14.2 | 123 | 0.28 |
| 1015041 | 336610 | 6753300 | Old RAB HOLE RCGC023 from Golden Chimney. 0-4m | 3.5 | 7.2 | 43 | 0.3 |
| 1015042 | 336610 | 6753300 | Old RAB HOLE RCGC023 from Golden Chimney. 4-8m | 1.5 | 3.2 | 42 | 0.2 |
| 1015043 | 336610 | 6753300 | Old RAB HOLE RCGC023 from Golden Chimney.8-12m | 1.5 | 4.8 | 99 | 0.2 |
| 1015044 | 336610 | 6753300 | Old RAB HOLE RCGC023 from Golden Chimney. 12-17m,EOH | 1.5 | 4.8 | 226 | 0.36 |
| 1015045 | 336625 | 6753290 | Old RAB HOLE RCGC024 from Golden Chimney. 0-5m | 3.5 | 11.6 | 23 | 0.18 |
| 1015046 | 336625 | 6753290 | Old RAB HOLE RCGC023 from Golden Chimney.5-9m | 1.5 | 2.6 | 16 | 0.16 |
| 1015047 | 336625 | 6753290 | Old RAB HOLE RCGC023 from Golden Chimney.9-13m | 1.5 | 2.6 | 36 | 0.1 |
| 1015048 | 336625 | 6753290 | Old RAB HOLE RCGC023 from Golden Chimney.13-16m,EOH | 15 | 1.8 | 46 | 0.18 |
| 1015057 | 336552 | 6753350 | Old RAB HOLE RCGC017 from Golden Chimney. 0-4m | 5.5 | 158 | 41 | 0.28 |
| 1015058 | 336552 | 6753350 | Old RAB HOLE RCGC017 from Golden Chimney. 4-8m | 1.5 | 68.2 | 22 | 0.24 |
| 1015059 | 336552 | 6753350 | Old RAB HOLE RCGC017 from Golden Chimney.8-12m | 3 | 91.8 | 22 | 0.22 |
| 1015060 | 336552 | 6753350 | Old RAB HOLE RCGC017 from Golden Chimney. 12-17m,EOH | 2 | 17.2 | 23 | 0.14 |
Page | 9
JORC Code, 2012 Edition – Table 1 report
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
| Criteria | JORC Code explanation | JORC Code explanation | Commentary | Commentary |
|---|---|---|---|---|
| Sampling | • | Nature and quality of sampling (eg cut | • | Soil samples were collected by auger drilling. Sample |
| techniques | channels, random chips, or specific | depths for each hole drilled are provided in Appendix | ||
| specialised industry standard | 1. Samples were collected at the bottom of each hole | |||
| measurement tools appropriate to the | and sieved to - 240 µ (-60 mesh) and weighed | |||
| minerals under investigation, such as | between 200 – 250 grams and placed into paper | |||
| down hole gamma sondes, or handheld | MINSAM bags. | |||
| XRF instruments, etc). These examples | • |
10% Hydrochloric acid was used to check for | ||
| should not be taken as limiting the | carbonate within the soil profile. If significant | |||
| broad meaning of sampling. | carbonate was seen during drilling it was the | |||
| • | Include reference to measures taken to | preferred sample depth from which the sample was | ||
| ensure sample representivity and the | collected instead of the bottom of hole. Most holes | |||
| appropriate calibration of any | had some degree of carbonate present. Appendix 1 | |||
| measurement tools or systems used. | illustrates carbonate reaction in each sample. | |||
| • | Aspects of the determination of | • | Rock chip samples were collected at various outcrops | |
| mineralisation that are Material to the | and from the mulloch of old diggings. Using a hand- | |||
| Public Report. | held pick, rock chips were taken weighing approx. | |||
| • | In cases where ‘industry standard’ work | 500-800 grams. These samples were placed into a | ||
| has been done this would be relatively | calico bag. 60 samples were collected. Sample | |||
| simple (eg ‘reverse circulation drilling | locations are provided in Appendix 2. | |||
| was used to obtain 1 m samples from | • | The samples are considered to effectively represent | ||
| which 3 kg was pulverised to produce a | the soil and rock at the point of collection. Sampling | |||
| 30 g charge for fire assay’). In other | included Shree Minerals’ standard QAQC procedures | |||
| cases more explanation may be | including the insertion of standards and duplicate | |||
| required, such as where there is coarse | samples, at the rate of 1 standard (or duplicate) for | |||
| gold that has inherent sampling | every 25 unknown samples, into the total sample | |||
| problems. Unusual commodities or | batch that was submitted to the assay laboratory. | |||
| mineralisation types (eg submarine | • | All samples were delivered to Bureau Veritas (BV) | ||
| nodules) may warrant disclosure of | Laboratory in Kalgoorlie for preparation and assay. | |||
| detailed information. | All Samples were pulverized to 85% passing 75 µ. | |||
| • | Analysis details: Au and As (0.5 ppb detection limit) | |||
| determined by aqua regia digestion and ICP-MS (BV | ||||
| Method AR005). Additional elements (Co, Cu, Pb, Zn, | ||||
| Li, Ni, Rb, Mo, Ti, Sn) determined by aqua regia | ||||
| digestion and ICP-MS(BV Method AR102). | ||||
| Drilling | • | Drill type (eg core, reverse circulation, | • | Auger drilling was performed by Gyro Drilling P/L of |
| techniques | open-hole hammer, rotary air blast, | Kalgoorlie using a 3.5-inch diameter auger bit with 1.5 | ||
| auger, Bangka, sonic, etc) and details | m length auger rods. Drilling required a two-man | |||
| (eg core diameter, triple or standard | operation of the auger mounted rig on the back of a | |||
| tube, depth of diamond tails, face- | Toyota Landcruiser 4WD vehicle. All holes drilled | |||
| sampling bit or other type, whether core | vertically. Figure 2 of this announcement illustrates | |||
| is oriented and if so, by what method, | the auger rig in action. | |||
| _etc). _ | ||||
| Drill sample | • |
Method of recording and assessing | • | Sample recovery was assessed visually via the |
| recovery | core and chip sample recoveries and | sample size collected into the paper MINSAM bags. | ||
| results assessed. | Recovery was usually 80-90% but was lower (50%) in | |||
| • | Measures taken to maximise sample | rare near surface samples. All samples after sieving | ||
| recovery and ensure representative | weighed between 200-250 grams. | |||
| 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. | ||||
| Logging | • | Whether core and chip samples have | • | Geological logging of soils was undertaken. Sample |
| been geologically and geotechnically | number, soil colour, carbonate content, depth, GPS | |||
| logged to a level of detail to support | location was recorded. No geotechnical logging was | |||
| appropriate Mineral Resource | required as the program is early stage exploration. | |||
| estimation, mining studies and | • | Geological loggingwasqualitative at 0.25m intervals |
Page | 10
| Criteria | JORC Code explanation | JORC Code explanation | Commentary | Commentary |
|---|---|---|---|---|
| metallurgical studies. | and was recorded at the sample depth. The recording | |||
| • | Whether logging is qualitative or | was done at a level commensurate with the early | ||
| quantitative in nature. Core (or costean, | stage of exploration. | |||
| channel, etc) photography. | ||||
| • | The total length and percentage of the | |||
| _relevant intersections logged. _ | ||||
| Sub- | • | If core, whether cut or sawn and | • | N/A |
| sampling | whether quarter, half or all core taken. | • | Dry soil samples were collected at the drill collar. | |
| techniques and sample preparation |
• | If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. |
• | All soil and rock samples were delivered to Bureau Veritas (BV) Laboratory in Kalgoorlie for preparation and assay. Samples were pulverized to 85% passing |
| • | For all sample types, the nature, quality | 75 µ. | ||
| and appropriateness of the sample | • | The samples are considered to effectively represent | ||
| preparation technique. | the soil and rock at the point of collection. Sampling | |||
| • | Quality control procedures adopted for | included Shree Minerals’ standard QAQC procedures | ||
| all sub-sampling stages to maximise | including the insertion of standards and duplicate | |||
| representivity of samples. | samples, at the rate of 1 standard (or duplicate) for | |||
| • | Measures taken to ensure that the | every 25 unknown samples, into the total sample | ||
| sampling is representative of the in situ | batch that was submitted to the assay laboratory. | |||
| material collected, including for instance | • |
Auger Samples were collected at the bottom of each | ||
| results for field duplicate/second-half | hole or a carbonate horizon and sieved to - 240 µ (- | |||
| sampling. | 60 mesh) and weighed between 200 – 250 grams. | |||
| • | Whether sample sizes are appropriate | Sieving was undertaken to enhance the geochemical | ||
| to the grain size of the material being | anomaly to background ratio. | |||
| _sampled. _ | ||||
| Quality of | • | The nature, quality and appropriateness | • |
All auger and rock samples were delivered to a |
| assay data | of the assaying and laboratory | reputable assay laboratory (Bureau Veritas (BV)) | ||
| and | procedures used and whether the | Laboratory in Kalgoorlie. Analysis details: Au and As | ||
| laboratory | technique is considered partial or total. | (0.5 ppb detection limit) determined by aqua regia | ||
| tests | • | For geophysical tools, spectrometers, | digestion and ICP-MS read-out (BV Method AR005). | |
| handheld XRF instruments, etc, the | Additional elements (Co, Cu, Pb, Zn, Li, Ni, Rb, W) | |||
| parameters used in determining the | determined by aqua regia digestion and ICP-MS | |||
| analysis including instrument make and | read-out (BV Method AR102). | |||
| model, reading times, calibrations | • | Aqua Regia digestion of oxidized soil and rock | ||
| factors applied and their derivation, etc. | samples (in which these shallow soils are very | |||
| • | Nature of quality control procedures | oxidized) is considered a total digestion of the | ||
| adopted (eg standards, blanks, | sample. | |||
| duplicates, external laboratory checks) | • | N/A | ||
| and whether acceptable levels of | • | Sampling included Shree Minerals’ standard QAQC | ||
| accuracy (ie lack of bias) and precision | procedures. Checks were also provided by Gyro | |||
| have been established. | Drilling including the insertion of appropriate | |||
| standards and duplicate samples, at the rate of 1 | ||||
| standard (or duplicate) for every 25 unknown | ||||
| samples, into the total sample batch that was | ||||
| submitted to the assaylaboratory. | ||||
| Verification | • | The verification of significant | • | Analysis of the accuracy of the above QAQC |
| of sampling | intersections by either independent or | procedures is within acceptable limits. | ||
| and | alternative company personnel. | • | N/A | |
| assaying | • | The use of twinned holes. | • | Sample data was recorded by hand and then |
| • | Documentation of primary data, data | transferred to a standard Excel spreadsheet on a | ||
| entry procedures, data verification, data | laptop computer in the field. This file was then | |||
| storage (physical and electronic) | provided to a Shree Minerals database administrator | |||
| protocols. | in Perth. Assay files were emailed from BV labs to a | |||
| • | Discuss any adjustment to assay data. | Shree Minerals database administrator. | ||
| • | No assaydata was adjusted. | |||
| Location of | • | Accuracy and quality of surveys used to | • |
All auger holes and rock chip coordinates were |
| data points | locate drill holes (collar and down-hole | located by a handheld GPS, which are considered | ||
| surveys), trenches, mine workings and | accurate to +/- 5m in the Northing and Easting. | |||
| other locations used in Mineral | • | Auger and rock chip sample locations are in | ||
| Resource estimation. | Appendices 1 & 2 respectively. | |||
| • | Specification of the grid system used. | • | The grid system used is MGA94 Zone 51 (GDA94). | |
| • | Quality and adequacy of topographic | • | Topographic control is maintained using topographic | |
| control. | maps. | |||
| Data | • | Data spacing for reporting of | • | Auger holes were drilled on lines with 50m spacing |
| spacing and | Exploration Results. | between holes and along lines 100m apart. As | ||
| distribution | • | Whether the data spacing and | creeks, trees and large rocks were often encountered | |
| distribution is sufficient to establish the | along lines, auger holes may be misplaced by up to | |||
| 5m. |
Page | 11
| Criteria | JORC Code explanation | JORC Code explanation | Commentary | Commentary |
|---|---|---|---|---|
| degree of geological and grade | • | N/A as no resource estimate is made. | ||
| continuity appropriate for the Mineral | • | No sample compositing has been applied for such | ||
| Resource and Ore Reserve estimation | shallow holes where only one sample was collected. | |||
| procedure(s) and classifications | ||||
| applied. | ||||
| • | Whether sample compositing has been | |||
| _applied. _ | ||||
| Orientation | • | Whether the orientation of sampling | • | All auger holes were drilled vertically and did not |
| of data in | achieves unbiased sampling of possible | reach depths to allow rock structures to be seen. | ||
| relation to | structures and the extent to which this | • | N/A | |
| geological | is known, considering the deposit type. | |||
| structure | • | 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. | ||||
| Sample | • | The measures taken to ensure sample | • | Auger samples were placed into paper MINSAM bags |
| security | security. | measuring 10 cm x 5 cm. They were then placed into | ||
| larger polyweave bags which were sealed with cable | ||||
| ties before transport by Gyro Drilling to the BV lab in | ||||
| Kalgoorlie. A sample submission outlining assay | ||||
| instructions were provided to BV by a Shree | ||||
| geologist. | ||||
| • | BV maintains the chain of custody once the samples | |||
| are received at the laboratory, with a full audit trail | ||||
| availablevia theBV website. | ||||
| Audits or | • | The results of any audits or reviews of | • | At this stage of exploration, no external audit or |
| reviews | sampling techniques and data. | review has been undertaken. |
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
| Criteria | JORC Code explanation | JORC Code explanation | Commentary | ||||
|---|---|---|---|---|---|---|---|
| Mineral tenement | • | Type, reference name/number, | • | Augur holes were all completed within the granted E40/378 | |||
| and land tenure | location and ownership | which is 100% owned by Shree Minerals. Shree Minerals | |||||
| status | including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, |
exercised its option to acquire E40/378 on the 7 March 2019 from Carmichael Prospecting Company Pty Limited. Landownership is leasehold with the tenement located within the Melita Pastoral property. |
|||||
| historical sites, wilderness or | • | Shree has signed a standard Indigenous Land Use Agreement | |||||
| national park and | (ILUA) covering E40/378. | ||||||
| • | environmental settings. The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in |
• | Ground activity and security of tenure are governed by the WA Dept. Mines, Industry Regulation and Safety (DMIRS) via the Mining Act 1978. Shree Minerals is unaware of any impediments to exploration on this license. |
||||
| the area. | |||||||
| Exploration done | • | Acknowledgment and appraisal | Most of the historical work within the project was undertaken during | ||||
| by other parties | of exploration by other parties. | the | period from 1993 to 2001. This work included: | ||||
| ▪ | Detailed soil and rock sampling by Money Mining at the Golden | ||||||
| Chimney and Golden Chimney West prospects in 1993. This | |||||||
| work resulted in the discovery of the | Golden Chimney prospect | ||||||
| where rock chip assays up to 207 | g/t Au and a robust soil | ||||||
| anomaly measuring 100m x 150m in | area was identified. | ||||||
| ▪ | Regional soil sampling and 102 stream sediment samples by | ||||||
| Aberfoyle in 1995 identified the Golden Chimney West prospect. | |||||||
| ▪ | 28 RC holes for 1,092m within the Golden Chimney prospect | ||||||
| were drilled by Money Mining and Aberfoyle between 1993 and | |||||||
| 1996. This drilling intersected broad zones of low-grade gold | |||||||
| mineralisation including26m @ 0.36g/t Au in RCGC014 from |
Page | 12
| Criteria | JORC Code explanation | JORC Code explanation | Commentary | |||||
|---|---|---|---|---|---|---|---|---|
| 6m, 15m @ 0.46 g/t Au in RCGC07 | from 12m and 5m @ 0.47 | |||||||
| g/t Au in RCGC011 from 102m. | ||||||||
| ▪ | In a large regional program Barminco collected 370 BLEG | |||||||
| samples in the northern third of | the area now covered by | |||||||
| E40/378 in 1998. Low order anomalies (5 ppb Au) were | ||||||||
| generated. | ||||||||
| ▪ | Given the highly residual regolith | in the project area, the | ||||||
| sampling programs are considered | meaningful, but sample line | |||||||
| spacing (500m) is considered | too coarse to identify the | |||||||
| mineralised haloes typical of some | existing gold deposits seen | |||||||
| intheLeonora area. | ||||||||
| Geology | • | Deposit type, geological setting | • | E40/378 is located 40km south of Leonora (Figure 1) within the | ||||
| and style of mineralisation. | Leonora Gold field. The world class | deposit known as the Sons | ||||||
| of Gwalia Gold mine occurs within | this geological terrain (1.9 | |||||||
| Moz Au in reserve at a grade of 7.5 | g/t Au and past production | |||||||
| of 4 Moz Au). | ||||||||
| • | The project geology is dominated by greenstones that | |||||||
| comprise a bimodal volcanic rock association, exhibiting an | ||||||||
| interfingering sequence of felsic and mafic lavas. Several | ||||||||
| dolerite sills and dykes are magnetite bearing and form | ||||||||
| prominent aeromagnetic high linears | in aeromagnetic images | |||||||
| (for example see Figure 3). | ||||||||
| • | Mafic rocks, mainly dolerites, are the | most common host rocks | ||||||
| to mineralisation in the Leonora area | and in many deposits | |||||||
| including Golden Chimney, the mafic | rocks appear to be Fe | |||||||
| rich and occurring within fractionated | zones that become | |||||||
| gabbroic, containing more feldspar and quartz. | ||||||||
| • | Drilling by Money Mining at the Golden Chimney prospect in | |||||||
| 1993 encountered a mineralised structure passing through a | ||||||||
| felsic quartz hornblende fractionated gabbroic intrusive. The | ||||||||
| structure contains common coarse crystalline arsenopyrite. | ||||||||
| Other sulphide minerals include pyrite and chalcopyrite. | ||||||||
| Drill hole | • | A summary of all information | • | Details of the infill auger collars, depths of each hole are | ||||
| Information | material to the understanding of | provided in Appendix 1 and illustrated in Figure 2. | ||||||
| the exploration results including | ||||||||
| a tabulation of the following | ||||||||
| information for all Material drill | ||||||||
| 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 aggregation | • | In reporting Exploration Results, | • N/A |
|||||
| methods | 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 |
Page | 13
| Criteria | JORC Code explanation | JORC Code explanation | Commentary | ||
|---|---|---|---|---|---|
| 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. _ | |||||
| Relationship | • | These relationships are particularly | • | N/A | |
| between | important in the reporting of | ||||
| mineralisation | Exploration Results. | ||||
| widths and | • | If the geometry of the mineralisation | |||
| intercept lengths | 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’). _ | |||||
| Diagrams | • | Appropriate maps and sections (with | • | Refer to the diagrams in this announcement for relevant | |
| scales) and tabulations of intercepts | plans including a tabulation of auger hole collars in | ||||
| should be included for any significant | Appendix 1 and recently collected rock chip samples in | ||||
| discovery being reported These should | Appendix 2. | ||||
| include, but not be limited to a plan | |||||
| view of drill hole collar locations and | |||||
| _appropriate sectional views. _ | |||||
| Balanced | • | Where comprehensive reporting of all | • | Comprehensive and unbiased reporting of the | |
| reporting | Exploration Results is not practicable, | exploration results has been provided in this | |||
| representative reporting of both low | announcement. | ||||
| and high grades and/or widths should | |||||
| be practiced to avoid misleading | |||||
| reporting of Exploration Results. | |||||
| Other substantive | • |
Other exploration data, if meaningful | • | Due to the early stage of exploration, no other | |
| exploration data | and material, should be reported | substantive exploration data has been completed. | |||
| 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. | |||||
| Further work | • | The nature and scale of planned | • | Further work is detailed in the body of the report but | |
| further work (eg tests for lateral | includes, if warranted, RC drilling of anomalous soil and | ||||
| extensions or depth extensions or | rock chip geochemistry. | ||||
| 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. |
Page | 14