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CORE LITHIUM LTD — Capital/Financing Update 2014
Jul 29, 2014
64737_rns_2014-07-29_e82bb6f5-47f0-401b-9fd2-cb55660442fb.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
ASX : CXO
30[th] July 2014
IP copper drill targets identified at Copper Queen Prospect
Albarta Project, NT
HIGHLIGHTS
-
Core’s new IP survey finds strong chargeable drill targets below surface copper mineralisation at the Copper Queen Prospect
-
Up to 20% copper and 72g/t gold in surface rock chips at Copper Queen
-
31 samples exceed 5% copper
-
132 samples exceed 1% copper (and average 2.0g/t gold)
-
Applications lodged to enable drilling as soon as approvals received
Core Exploration Ltd (ASX:CXO) IP surveys have identified chargeable drill targets associated with a 600m copper trend at the Copper Queen Prospect within the Company’s promising Albarta project, north east of Alice Springs in the Northern Territory.
Rock chips assays of up to 20% copper (Cu) and up to 72.3 grams per tonne gold (Au) at surface have been found at Copper Queen. 31 of the 195 recent and historical surface rockchip samples assay more than 5% copper and 132 samples assay at or above 1% copper and average 2.0g/t gold grade (Table 1 and Figures 1 and 2).
Two induced polarisation (IP) transects were undertaken by Core recently at the Copper Queen Prospect to define subsurface chargeability features and drill targets.
Core’s IP geophysical surveys for the first time has identified significant chargeable copper drill targets at Copper Queen.
Core’s eastern IP line detected a significant vertical chargeable feature directly beneath the best outcropping copper mineralisation. Previous shallow RAB drilling in this area also intersected anomalous copper and gold intervals. The western IP line has also identified a number of chargeable features associated with the copper horizon, but of less intensity to those on the eastern IP line (Figure 1).
Core plans to commence RC drilling at Copper Queen and also the nearby Virginia Prospect as soon as approvals are granted, which are expected later in this current quarter.
A Level 2, 143 Hutt St, Adelaide SA 5000 | T (08) 7324 2987 | F (08) 8312 2002 | E [email protected] www.coreexploration.com.au
==> picture [596 x 215] intentionally omitted <==
Figure 1. Copper in rock-chips(green), previous drill collars(red) and IP chargeability sections Copper Queen Prospect, Albarta Project, NT.
==> picture [452 x 319] intentionally omitted <==
Figure 2. Multiple copper prospects and previous exploration in the Copper Royals district, NT.
A Level 2, 143 Hutt St, Adelaide SA 5000 | T (08) 7324 2987 | F (08) 8312 2002 | E [email protected] www.coreexploration.com.au
Commenting on the coincident IP anomaly and high surface rock chip samples, CXO’s Managing Director Stephen Biggins said that “These results have significantly upgraded the potential of the Copper Queen Prospect and the company looks forward to conducting a drilling program to test the target as soon as approvals are received.”
A number of key prospects are located in the Copper Royals district with the most significant being Copper Queen, Copper King, Skippy Tail and MR2. Significant geochemical anomalism (both copper and gold) is also associated with two main structural trends in the Copper Royals district. The NW-SE trending Florence Creek Shear Zone (FCSZ), and the E-W trending Copper Queen and Mogul trends (Figure 2).
Soil and rock chip sampling, RAB drilling and a hyperspectral airborne survey (Hymap) were completed historically in the broader Copper Royals district (Figure 2). Historic first pass RAB drilling identified thin intervals of copper mineralisation, however there is little evidence that geophysics was utilised in drill targeting. Core believes that utilising geophysics has the potential to map mineralisation at depth, further enhancing the targets by utilising modern exploration techniques.
| For further information please contact: | |
|---|---|
| Stephen Biggins | John Field |
| Managing Director | Field Public Relations |
| Core Exploration Ltd | |
| 08 7324 2987 | 08 8234 9555 |
| [email protected] | [email protected] |
The information in this report that relates to Exploration Results and Mineral Resources is based on information compiled by Stephen Biggins (BSc(Hons)Geol, MBA) as Managing Director of Core Exploration Ltd who is a member of the Australasian Institute of Mining and Metallurgy and is bound by and follows the Institute’s codes and recommended practices. He has sufficient experience which is relevant to the styles of mineralisation and types of deposits under consideration and to the activities being undertaken 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. Biggins consents to the inclusion in the report of the matters based on his information in the form and context in which it appears .
A Level 2, 143 Hutt St, Adelaide SA 5000 | T (08) 7324 2987 | F (08) 8312 2002 | E [email protected] www.coreexploration.com.au
Table 1. Rock chip results above 1% copper (132 of 195 total samples) from the Copper Queen Prospect including historical exploration and samples taken by Core Exploration.
| Sample No | East |
North |
Au (g/t) | Cu % |
Company |
|---|---|---|---|---|---|
| HRCRC1173 | 465993 |
7439373 |
1.1 | 20.9 |
Tanami Gold NL |
| HRCRC1174 | 465993 |
7439373 |
1.12 | 20.8 |
Tanami Gold NL |
| HRCRC0668 | 466668 |
7439561 |
1.91 | 14.3 |
Tanami Gold NL |
| 1214 | 466785 |
7439573 |
20.8 | 12.7 |
Core Exploration |
| HRCRC0560 | 466784 |
7439565 |
4.71 | 12.5 |
Tanami Gold NL |
| HRCRC0862 | 466122 |
7439449 |
0.62 | 12.1 |
Tanami Gold NL |
| HRCRC0674 | 466731 |
7439549 |
72.3 | 10.8 |
Tanami Gold NL |
| HRCRC0646 | 466428 |
7439548 |
1.13 | 10.2 |
Tanami Gold NL |
| HRCRC0658 | 466576 |
7439558 |
0.83 | 9.9 |
Tanami Gold NL |
| HRCRC0863 | 466122 |
7439449 |
0.85 | 8.8 |
Tanami Gold NL |
| HRCRC0686 | 466770 |
7439571 |
1.36 | 8 |
Tanami Gold NL |
| HRCRC0872 | 465831 |
7439590 |
0.07 | 7.8 |
Tanami Gold NL |
| HRCRC0661 | 466595 |
7439559 |
1.38 | 7.6 |
Tanami Gold NL |
| HRCRC0554 | 466786 |
7439566 |
0.67 | 7.2 |
Tanami Gold NL |
| HRCRC0786 | 466731 |
7439549 |
0.5 | 7.1 |
Tanami Gold NL |
| HRCRC0871 | 465831 |
7439590 |
0.24 | 7.1 |
Tanami Gold NL |
| HRCRC0725 | 466936 |
7439553 |
1.41 | 6.9 |
Tanami Gold NL |
| HRCRC0558 | 466786 |
7439566 |
14.5 | 6.6 |
Tanami Gold NL |
| HRCRC0660 | 466595 |
7439559 |
1.92 | 6.5 |
Tanami Gold NL |
| HRCRC0659 | 466584 |
7439559 |
1.64 | 6.4 |
Tanami Gold NL |
| HRCRC0866 | 465832 |
7439584 |
0.29 | 6.1 |
Tanami Gold NL |
| HRCRC0867 | 465832 |
7439584 |
0.44 | 6.1 |
Tanami Gold NL |
| HRCRC0648 | 466461 |
7439550 |
1.46 | 5.9 |
Tanami Gold NL |
| HRCRC0870 | 465831 |
7439588 |
0.29 | 5.8 |
Tanami Gold NL |
| HRCRC0662 | 466597 |
7439564 |
0.76 | 5.7 |
Tanami Gold NL |
| HRCRC0647 | 466428 |
7439548 |
1.53 | 5.6 |
Tanami Gold NL |
| HRCRC0678 | 466754 |
7439551 |
2.96 | 5.3 |
Tanami Gold NL |
| HRCRC0671 | 466717 |
7439561 |
0.56 | 5.3 |
Tanami Gold NL |
| HRCRC0683 | 466783 |
7439568 |
14.3 | 5.2 |
Tanami Gold NL |
| HRCRC0880 | 465796 |
7439586 |
0.33 | 5.2 |
Tanami Gold NL |
| HRCRC0670 | 466707 |
7439559 |
1.57 | 5.1 |
Tanami Gold NL |
| HRCRC0868 | 465832 |
7439584 |
0.18 | 5 |
Tanami Gold NL |
| HRCRC0652 | 466499 |
7439559 |
4.64 | 5 |
Tanami Gold NL |
| HRCRC0873 | 465828 |
7439590 |
0.13 | 4.8 |
Tanami Gold NL |
| HRCRC0874 | 465800 |
7439585 |
0.15 | 4.7 |
Tanami Gold NL |
| HRCRC0556 | 466786 |
7439562 |
0.54 | 4.6 |
Tanami Gold NL |
| HRCRC0869 | 465831 |
7439588 |
0.25 | 4.4 |
Tanami Gold NL |
| HRCRC0726 | 466936 |
7439553 |
0.31 | 4.4 |
Tanami Gold NL |
| HRCRC0742 | 466782 |
7439566 |
1.34 | 4.4 |
Tanami Gold NL |
A Level 2, 143 Hutt St, Adelaide SA 5000 | T (08) 7324 2987 | F (08) 8312 2002 | E [email protected]
www.coreexploration.com.au
| Sample No | East |
North |
Au (g/t) |
Cu % |
Company | ||
| HRCRC0753 | 466764 |
7439557 |
0.95 |
4.4 |
Tanami Gold NL | ||
| HRCRC0722 | 466912 |
7439556 |
0.37 |
4.2 |
Tanami Gold NL | ||
| HRCRC0736 | 466784 |
7439567 |
0.88 |
4.1 |
Tanami Gold NL | ||
| HRCRC0720 | 466899 |
7439557 |
6.61 |
4.1 |
Tanami Gold NL | ||
| HRCRC0653 | 466519 |
7439564 |
1.87 |
4.1 |
Tanami Gold NL | ||
| HRCRC0685 | 466770 |
7439571 |
1.47 |
4.1 |
Tanami Gold NL | ||
| HRCRC1171 | 466627 |
7439627 |
0.05 |
4 |
Tanami Gold NL | ||
| HRCRC0642 | 466357 |
7439553 |
5.02 |
4 |
Tanami Gold NL | ||
| HRCRC0724 | 466931 |
7439556 |
0.31 |
3.9 |
Tanami Gold NL | ||
| HRCRC0682 | 466783 |
7439568 |
0.48 |
3.8 |
Tanami Gold NL | ||
| HRCRC0875 | 465800 |
7439585 |
0.13 |
3.8 |
Tanami Gold NL | ||
| HRCRC0864 | 466109 |
7439444 |
0.96 |
3.6 |
Tanami Gold NL | ||
| HRCRC0677 | 466757 |
7439556 |
1.41 |
3.6 |
Tanami Gold NL | ||
| HRCRC0740 | 466784 |
7439567 |
1.4 |
3.6 |
Tanami Gold NL | ||
| HRCRC0684 | 466770 |
7439571 |
1.23 |
3.6 |
Tanami Gold NL | ||
| 1217 | 466351 |
7439556 |
2.71 |
3.4 |
Core Exploration | ||
| HRCRC0669 | 466681 |
7439562 |
1.83 |
3.3 |
Tanami Gold NL | ||
| HRCRC0676 | 466748 |
7439550 |
2.92 |
3.3 |
Tanami Gold NL | ||
| 1198 | 465803 |
7439600 |
0.14 |
3.2 |
Core Exploration | ||
| HRCRC0640 | 466350 |
7439554 |
1.8 |
3.2 |
Tanami Gold NL | ||
| 1218 | 466142 |
7439458 |
1.02 |
3.2 |
Core Exploration | ||
| HRCRC1172 | 466627 |
7439627 |
0.15 |
3.2 |
Tanami Gold NL | ||
| HRCRC0789 | 466731 |
7439549 |
0.21 |
3.1 |
Tanami Gold NL | ||
| HRCRC0557 | 466786 |
7439566 |
0.36 |
3.1 |
Tanami Gold NL | ||
| HRCRC0673 | 466725 |
7439561 |
0.93 |
3 |
Tanami Gold NL | ||
| HRCRC0687 | 466770 |
7439571 |
0.36 |
2.9 |
Tanami Gold NL | ||
| HRCRC0732 | 466351 |
7439553 |
0.67 |
2.9 |
Tanami Gold NL | ||
| HRCRC0846 | 465660 |
7439587 |
0.32 |
2.7 |
Tanami Gold NL | ||
| HRCRC0689 | 466763 |
7439571 |
0.47 |
2.7 |
Tanami Gold NL | ||
| HRCRC0688 | 466763 |
7439571 |
0.95 |
2.7 |
Tanami Gold NL | ||
| HRCRC0787 | 466731 |
7439549 |
1.78 |
2.7 |
Tanami Gold NL | ||
| HRCRC0644 | 466380 |
7439553 |
1.42 |
2.7 |
Tanami Gold NL | ||
| HRCRC0737 | 466784 |
7439567 |
0.71 |
2.6 |
Tanami Gold NL | ||
| HRCRC0649 | 466467 |
7439550 |
2.37 |
2.6 |
Tanami Gold NL | ||
| HRCRC0559 | 466784 |
7439564 |
0.37 |
2.6 |
Tanami Gold NL | ||
| HRCRC0746 | 466782 |
7439566 |
1.98 |
2.6 |
Tanami Gold NL | ||
| HRCRC0738 | 466784 |
7439567 |
0.41 |
2.5 |
Tanami Gold NL | ||
| HRCRC0723 | 466913 |
7439559 |
0.63 |
2.5 |
Tanami Gold NL | ||
| HRCRC0744 | 466782 |
7439566 |
0.24 |
2.3 |
Tanami Gold NL | ||
| HRCRC0876 | 465801 |
7439587 |
0.09 |
2.3 |
Tanami Gold NL | ||
| HRCRC0743 | 466782 |
7439566 |
0.73 |
2.3 |
Tanami Gold NL | ||
| HRCRC0754 | 466762 |
7439558 |
0.9 |
2.3 |
Tanami Gold NL |
A Level 2, 143 Hutt St, Adelaide SA 5000 | T (08) 7324 2987 | F (08) 8312 2002 | E [email protected] www.coreexploration.com.au
| Sample No | East |
North |
Au(g/t) |
Cu % | Company | ||
| HRCRC0747 | 466782 |
7439566 |
0.32 |
2.2 |
Tanami Gold NL | ||
| HRCRC0739 | 466784 |
7439567 |
2.12 |
2.2 |
Tanami Gold NL | ||
| HRCRC0675 | 466748 |
7439550 |
0.27 |
2.1 |
Tanami Gold NL | ||
| HRCRC0645 | 466380 |
7439553 |
0.45 |
2 |
Tanami Gold NL | ||
| HRCRC0721 | 466906 |
7439558 |
10.2 |
2 |
Tanami Gold NL | ||
| HRCRC0672 | 466717 |
7439561 |
1.06 |
1.9 |
Tanami Gold NL | ||
| HRCRC0555 | 466786 |
7439565 |
0.33 |
1.9 |
Tanami Gold NL | ||
| HRCRC0641 | 466350 |
7439554 |
1.19 |
1.9 |
Tanami Gold NL | ||
| HRCRC0758 | 466754 |
7439554 |
0.64 |
1.9 |
Tanami Gold NL | ||
| 1197 | 465817 |
7439595 |
0.1 |
1.9 |
Core Exploration | ||
| HRCRC0877 | 465801 |
7439587 |
0.07 |
1.8 |
Tanami Gold NL | ||
| HRCRC0752 | 466764 |
7439558 |
0.49 |
1.7 |
Tanami Gold NL | ||
| HRCRC0679 | 466773 |
7439562 |
0.51 |
1.7 |
Tanami Gold NL | ||
| HRCRC0655 | 466549 |
7439565 |
4.48 |
1.7 |
Tanami Gold NL | ||
| HRCRC0847 | 465664 |
7439591 |
0.25 |
1.7 |
Tanami Gold NL | ||
| HRCRC0745 | 466782 |
7439566 |
2.51 |
1.7 |
Tanami Gold NL | ||
| HRCRC0656 | 466565 |
7439561 |
0.55 |
1.7 |
Tanami Gold NL | ||
| HRCRC0749 | 466782 |
7439566 |
0.09 |
1.6 |
Tanami Gold NL | ||
| HRCRC0718 | 466455 |
7439371 |
0.83 |
1.6 |
Tanami Gold NL | ||
| HRCRC0667 | 466649 |
7439560 |
0.33 |
1.6 |
Tanami Gold NL | ||
| HRCRC0733 | 466351 |
7439553 |
0.79 |
1.5 |
Tanami Gold NL | ||
| 149808 | 466476 |
7439577 |
0.33 |
1.5 |
Pasminco Exploration |
||
| HRCRC0790 | 466731 |
7439549 |
0.53 |
1.5 |
Tanami Gold NL | ||
| HRCRC0651 | 466491 |
7439560 |
0.95 |
1.5 |
Tanami Gold NL | ||
| HRCRC0741 | 466784 |
7439567 |
0.09 |
1.4 |
Tanami Gold NL | ||
| HRCRC0663 | 466630 |
7439553 |
0.41 |
1.4 |
Tanami Gold NL | ||
| HRCRC0657 | 466566 |
7439560 |
0.47 |
1.4 |
Tanami Gold NL | ||
| HRCRC0788 | 466731 |
7439549 |
0.11 |
1.4 |
Tanami Gold NL | ||
| 1196 | 466649 |
7439563 |
0.31 |
1.4 |
Core Exploration | ||
| HRCRC0755 | 466760 |
7439559 |
1.1 |
1.4 |
Tanami Gold NL | ||
| HRCRC0695 | 465699 |
7439692 |
0.16 |
1.3 |
Tanami Gold NL | ||
| HRCRC0665 | 466639 |
7439556 |
0.81 |
1.3 |
Tanami Gold NL | ||
| HRCRC0680 | 466783 |
7439568 |
1.67 |
1.3 |
Tanami Gold NL | ||
| WH12 | 466416 |
7439546 |
2.5 |
1.3 |
Kinex PTY | ||
| WH15 | 466416 |
7439546 |
3.3 |
1.2 |
Kinex PTY | ||
| HRCRC0865 | 466107 |
7439444 |
0.37 |
1.2 |
Tanami Gold NL | ||
| HRCRC0664 | 466630 |
7439553 |
0.46 |
1.2 |
Tanami Gold NL | ||
| HRCRC0734 | 466357 |
7439550 |
1.06 |
1.2 |
Tanami Gold NL | ||
| HRCRC0859 | 466161 |
7439450 |
0.12 |
1.2 |
Tanami Gold NL | ||
| HRCRC0735 | 466357 |
7439550 |
1.16 |
1.1 |
Tanami Gold NL | ||
| HRCRC0748 | 466782 |
7439566 |
0.1 |
1.1 |
Tanami Gold NL |
A Level 2, 143 Hutt St, Adelaide SA 5000 | T (08) 7324 2987 | F (08) 8312 2002 | E [email protected] www.coreexploration.com.au
| Sample No | East |
North |
Au(g/t) | Cu % | Company | ||
| HRCRC0650 | 466488 |
7439559 |
0.93 | 1.1 | Tanami Gold NL | ||
| HRCRC0666 | 466639 |
7439556 |
0.17 | 1.1 | Tanami Gold NL | ||
| HRCRC0727 | 466942 |
7439552 |
0.09 | 1 | Tanami Gold NL | ||
| HRCRC0750 | 466782 |
7439566 |
0.02 | 1 | Tanami Gold NL | ||
| HRCRC0861 | 466141 |
7439448 |
0.01 | 1 | Tanami Gold NL | ||
| HRCRC0691 | 465696 |
7439690 |
0.22 | 1 | Tanami Gold NL | ||
| HRCRC0719 | 466894 |
7439555 |
0.7 | 1 | Tanami Gold NL | ||
| HRCRC0643 | 466357 |
7439553 |
1.44 | 1 | Tanami Gold NL | ||
| HRCRC0681 | 466783 |
7439568 |
0.95 | 1 | Tanami Gold NL | ||
| HRCRC0654 | 466546 |
7439565 |
0.35 | 1 | Tanami Gold NL | ||
| AVERAGE | 2.0 g/t | 3.9 % |
Table 2. RAB Drillhole Collars Copper Queen Prospect, NT
| Hole_ID | Easting | Northing | Elevation | Dip | Azimuth | Depth(m) | Prospect | Date |
|---|---|---|---|---|---|---|---|---|
| MRB002 | 466878 | 7439550 | 796 | -60 | 174 | 30 | CopperQueen East | 24-Sep-01 |
| MRB003 | 466878 | 7439579 | 798 | -50 | 177 | 60 | CopperQueen East | 24-Sep-01 |
| MRB004 | 466877 | 7439564 | 798 | -50 | 182 | 30 | CopperQueen East | 24-Sep-01 |
| MRB005 | 466933 | 7439582 | 795 | -50 | 181 | 48 | CopperQueen East | 24-Sep-01 |
| MRB006 | 466913 | 7439581 | 796 | -50 | 185 | 48 | CopperQueen East | 25-Sep-01 |
| MRB007 | 466842 | 7439574 | 799 | -50 | 187 | 30 | CopperQueen East | 25-Sep-01 |
| MRB008 | 466779 | 7439593 | 799 | -50 | 181 | 51 | CopperQueen | 25-Sep-01 |
| MRB009 | 466773 | 7439594 | 797 | -50 | 198 | 84 | CopperQueen | 25-Sep-01 |
| MRB010 | 466725 | 7439571 | 790 | -50 | 132 | 81 | CopperQueen | 26-Sep-01 |
| MRB011 | 466718 | 7439567 | 787 | -50 | 142 | 51 | CopperQueen | 26-Sep-01 |
| MRB012 | 466601 | 7439582 | 782 | -60 | 174 | 99 | CopperQueen | 26-Sep-01 |
| MRB013 | 466594 | 7439587 | 790 | -60 | 217 | 81 | CopperQueen | 27-Sep-01 |
| MRB014 | 466565 | 7439548 | 775 | -50 | 25 | 84 | CopperQueen | 27-Sep-01 |
| MRB015 | 466570 | 7439545 | 775 | -45 | 47 | 96 | CopperQueen | 27-Sep-01 |
| MRB016 | 466283 | 7439558 | 763 | -60 | 3 | 30 | CopperQueen West | 28-Sep-01 |
| MRB017 | 466279 | 7439484 | 759 | -60 | 183 | 30 | CopperQueen West | 28-Sep-01 |
| MRB018 | 466284 | 7439502 | 759 | -60 | 184 | 30 | CopperQueen West | 28-Sep-01 |
| MRB019 | 466279 | 7439518 | 759 | -60 | 185 | 30 | CopperQueen West | 28-Sep-01 |
| MRB020 | 466281 | 7439530 | 760 | -60 | 185 | 30 | CopperQueen West | 28-Sep-01 |
| MRB021 | 466287 | 7439547 | 760 | -60 | 186 | 36 | CopperQueen West | 28-Sep-01 |
A Level 2, 143 Hutt St, Adelaide SA 5000 | T (08) 7324 2987 | F (08) 8312 2002 | E [email protected] www.coreexploration.com.au
JORC Code, 2012 Edition – Table 1 report template Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
| Criteria | JORC Code explanation | Commentary | Commentary |
|---|---|---|---|
| Sampling | Nature and quality of sampling (eg cut channels, random chips, or | | Rock chip sampling was undertaken by Core Exploration as part of |
| techniques | specific specialised industry standard measurement tools appropriate | reconnaissance mapping and prospecting. Samples were taken | |
| to the minerals under investigation, such as down hole gamma | when visible mineralisation was observed as well as of separate | ||
| sondes, or handheld XRF instruments, etc). These examples should | identified lithological units, or when alteration or veining was | ||
| not be taken as limiting the broad meaning of sampling. | observed. Previous explorers sampling is interpreted to have been | ||
| Include reference to measures taken to ensure sample representivity | collected along similar criteria. | ||
| and the appropriate calibration of any measurement tools or systems | | Historical assays were sourced from the NTGS geochemistry and | |
| used. | drillhole database and Tanami Gold Pty Ltd exploration reports 2001- | ||
| Aspects of the determination of mineralisation that are Material to the | 2004. | ||
| Public Report. | | Tanami Gold Pty Ltd drill samples are described as 1-4m composites | |
| In cases where ‘industry standard’ work has been done this would be | of RAB samples. No further details are provided in Tanami reports as | ||
| relatively simple (eg ‘reverse circulation drilling was used to obtain 1 | to the techniques involved in splitting the samples from the 1m | ||
| m samples from which 3 kg was pulverised to produce a 30 g charge | sample bags/piles. | ||
| for fire assay’). In other cases more explanation may be required, | |||
| such as where there is coarse gold that has inherent sampling | |||
| problems. Unusual commodities or mineralisation types (eg | |||
| submarine nodules) may warrant disclosure of detailed information. | |||
| Drilling | Drill type (eg core, reverse circulation, open-hole hammer, rotary air | | During 2001 Tanami Gold Pty Ltd undertook Rotary Air Blast (RAB) |
| techniques | blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple | drilling at the Copper Queen Prospect. | |
| or standard tube, depth of diamond tails, face-sampling bit or other | |||
| _type, whether core is oriented and if so, by what method, etc). _ | |||
| Drill sample | Method of recording and assessing core and chip sample recoveries | | No descriptions are provided detailing sample recoveries or methods |
| recovery | and results assessed. | to maximize recovery. However consistent sampling is reported (1- | |
| Measures taken to maximise sample recovery and ensure | 4m composites) for each hole. | ||
| representative nature of the samples. | |||
| Whether a relationship exists between sample recovery andgrade |
A Level 2, 143 Hutt St, Adelaide SA 5000 | T (08) 7324 2987 | F (08) 8312 2002 | E [email protected]
www.coreexploration.com.au
| Criteria JORC Code explanation Commentary |
|
| 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 logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. The total length andpercentage of the relevant intersections logged. No direct evidence as to the logging techniques are described, but logging files are reported for the drilling. Rock chips are recovered through RAB drilling which have been geologically logged for lithology, weathering, veining and evidence of mineralisation for each metre. |
|
| Sub- sampling techniques and sample preparation If core, whether cut or sawn and whether quarter, half or all core taken. If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. For all sample types, the nature, quality and appropriateness of the sample preparation technique. Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. Whether sample sizes are appropriate to the grain size of the material being sampled. No information is provided by the Tanami reports as to the techniques undertaken in sub sampling. Although it is noted that composite samples were collected. |
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| Quality of assay data and laboratory tests The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) andprecision have been established. Rock chip samples collected by Core Exploration were sent to Genalysis for 4A/MS 4 Acid Digest Mass Spectrometry: and 4A/OE 4 Acid Digest Inductively Coupled Plasma Optical Emission Spectrometry. Rock chips collected by company’s Pasminco Exploration were assayed at Australian Laboratory Services (ALS) using Fire Assay technique for Au (PM219) and ICPOES for all other elements (IC582). Previous company’s rock chips collected by Tanami Gold NL in 2001, rock chips are listing as having been submitted to Amdel (now Bureau Veritas) and assayed using FA3 (Fire assay)and AA2(Atomic Absorption spectrometry). The drilling |
A Level 2, 143 Hutt St, Adelaide SA 5000 | T (08) 7324 2987 | F (08) 8312 2002 | E [email protected]
www.coreexploration.com.au
| Criteria JORC Code explanation Commentary |
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| undertaken by Tanami Gold sent drilling samples to Genalysis for B/AAS Aqua-regia digest/Flame Atomic Absorption Spectrometry (Ag, Cu), FA25/MS Lead collection fire assay/Inductively Coupled Plasma Mass Spectrometry (Au) |
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| Verification of sampling and assaying The verification of significant intersections by either independent or alternative company personnel. The use of twinned holes. Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Discuss any adjustment to assay data. No details are provided by Tanami Gold as to independent evaluation of results. Historical assays were also sourced from the NTGS geochemistry and drillhole database |
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| Location of data points Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Specification of the grid system used. Quality and adequacy of topographic control. All coordinate information was collected using hand held GPS utilising GDA 94, Zone 53. |
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| Data spacing and distribution Data spacing for reporting of Exploration Results. Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. Whether sample compositing has been applied. Data spacing for rock chip samples are displayed in the diagrams. Drill hole locations are displayed in the diagrams. |
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| Orientation of data in relation to geological structure Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. Refer figures in report. |
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| Sample security The measures taken to ensure sample security. Core Exploration samples were labeled and bagged and sent straight to the geochemistry laboratory. No information as to any sample security processes for previous explorers samples. |
A Level 2, 143 Hutt St, Adelaide SA 5000 | T (08) 7324 2987 | F (08) 8312 2002 | E [email protected]
www.coreexploration.com.au
| Criteria JORC Code explanation Commentary |
|
| Audits or reviews The results of any audits or reviews of sampling techniques and data. Not applicable as no audits or reviews of sampling techniques have been undertaken. |
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
| Criteria | JORC Code explanation | Commentary | Commentary |
|---|---|---|---|
| Mineral | Type, reference name/number, location and ownership including | | The Copper Queen prospect area is located within EL 29689. EL |
| tenement | agreements or material issues with third parties such as joint | 29689 is currently held 100% by Core Exploration. It is located on | |
| and land | ventures, partnerships, overriding royalties, native title interests, | pastoral land within Mt Riddock Station. | |
| tenure status | historical sites, wilderness or national park and environmental | ||
| settings. | |||
| The security of the tenure held at the time of reporting along with any | |||
| known impediments to obtaining a licence to operate in the area. | |||
| Exploration | Acknowledgment and appraisal of exploration by other parties. | | The Copper Queen Prospect was a historical occurrence which was |
| done by | then has earliest available first rock chip samples by Pasminco | ||
| other parties | Exploration and then followed up by Tanami Gold NL in 2001. RAB | ||
| drillingwas undertaken byTanami Gold in 2001. | |||
| Geology | Deposit type, geological setting and style of mineralisation. | | The geology of EL 29689 is dominated by rocks of the Aileron |
| Province and the Irindina Province. The Aileron Province is | |||
| comprised of metasedimentary pelites, calc-silicates as well as | |||
| granites and mafic lithologies. Amphibolites and high grade | |||
| metamorphic rocks are dominant within the Irindina Province which | |||
| underwent high grade metamorphism during the Ordovician Larapinta | |||
| Event. The Aileron Province area was deformed during the Alice | |||
| Springs Orogeny (300-400Ma) which juxtaposed the Irindina Province | |||
| against the Aileron Province. | |||
| Drill hole | A summary of all information material to the understanding of the | | Drilling information is provided in Table 1 and Figures in the report. |
| Information | exploration results including a tabulation of the following information | ||
| for all Material drill holes: |
A Level 2, 143 Hutt St, Adelaide SA 5000 | T (08) 7324 2987 | F (08) 8312 2002 | E [email protected]
www.coreexploration.com.au
| Criteria JORC Code explanation Commentary |
|
o easting and northing of the drill hole collaro elevation or RL (Reduced Level – elevation above sea level inmetres) of the drill hole collar o dip and azimuth of the holeo down hole length and interception deptho 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. |
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| Data aggregation methods In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. The assumptions used for any reporting of metal equivalent values should be clearly stated. An arithmetic mean of copper and gold assays of all rock-chip samples above a 1% cutoff (132 of 195 total samples) is presented in Table 1. |
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| Relationship between mineralisatio n widths and intercept lengths These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’). It is interpreted that the drilled intersections represent close to true width of mineralisation when drilled to the south based on the interpreted northerly dip of the mineralisation. |
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| Diagrams Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views. See figures in release |
A Level 2, 143 Hutt St, Adelaide SA 5000 | T (08) 7324 2987 | F (08) 8312 2002 | E [email protected]
www.coreexploration.com.au
| Criteria JORC Code explanation Commentary |
|
| Balanced reporting Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results. Previous explorers and Core Exploration’s rock chip samples from the Copper Queen Prospect are listed in Table 1 and displayed in Figure 1. |
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| Other substantive exploration data Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances. See release details |
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| Further work The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling). Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive. Core plans to commence RC drilling at Copper Queen once access approvals are granted |
A Level 2, 143 Hutt St, Adelaide SA 5000 | T (08) 7324 2987 | F (08) 8312 2002 | E [email protected]
www.coreexploration.com.au