AI assistant
DREADNOUGHT RESOURCES LTD — Interim / Quarterly Report 2015
Jan 20, 2015
64785_rns_2015-01-20_36381f7d-e463-44c4-8606-baae39e6ffe4.pdf
Interim / Quarterly Report
Open in viewerOpens in your device viewer
==> picture [127 x 103] intentionally omitted <==
QUARTERLY REPORT
Period ending 31 December 2014
KEY EVENTS
REVIEW OF OPERATIONS
-
z Spargoville RC drill sampling confirms and extends highly anomalous gold intercepts at Redback prospect.
-
16m @ 6.00g/t Au from 118m incl 4m @ 15.3g/t Au
-
7m @ 9.98g/t Au from 109m incl 2m @ 18.5g/t Au and 1m @ 19.4g/t
-
13m @ 4.22g/t Au from 89m incl 2m @ 16.8g/t Au
-
2m @ 27.3g/t Au from 161m incl 1m @ 53.6g/t Au
-
3m @ 14.9g/t Au from 132m incl 1m @ 38.0g/t Au
-
z Follow-up RC drilling at Redback completed for 23 holes for 3,526 metres.
==> picture [226 x 185] intentionally omitted <==
----- Start of picture text -----
Tanami Mill Ta nami
Granites Mill
NORTHERN
TERRITORY QUEENSLAND
WESTERN
AUSTRALIA
SOUTH
Spargoville AUSTRALIA
Va lley Floor NEW SOUTH WALES
Gold project 500km VICTORIA
TAS
----- End of picture text -----
CORPORATE ACTIVITIES
In recognition of performance and as a further incentive, Exploration Manager Mr Matthew Svensson has been granted 10,000,000 Performance Rights (Rights) with the following principal terms:
-
The Rights have been granted to Mr Svensson for no consideration;
-
The Rights will vest on publication by Tychean of a resource estimate of any category reported in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (2012 Edition) in respect of the Company’s Redback gold discovery at the Spargoville Gold Project in the eastern goldfields of Western Australia;
-
Upon vesting, Mr Svensson will be issued with one fully paid ordinary share in Tychean for each Right, for no consideration;
-
If the Rights have not vested on or before 1 January 2016, or such later date as agreed, they will automatically lapse (with no value) on that day.
Tychean Resources Limited ACN 119 031 864 | Level 3, 100 Pirie Street Adelaide South Australia 5000 Phone +61 8 7324 3195 | Fax +61 8 8312 5576 | Email [email protected] | Web www.tycheanresources.com
~~1~~
Tychean Resources Ltd • Quarterly Report for the period ending 31 December 2014
EXPLORATION ACTIVITIES
Western Australia
Spargoville Gold Project
SPARGOVILLE RC DRILLING
During the quarter exploration within the Spargoville Project comprised drilling a total of 31 RC drillholes for 4,843 metres at the Redback Prospect and receipt of one metre split results from completed RC and aircore drilling from the Redback and Core Farm Prospects, respectively, (Figure 1).
One metre split RC results were returned from RC drilling completed during October 2014 which was designed to follow up highly significant results and mineralised trends identified from previous drilling, including 4 metres at 7.46g/t Au from 113 metres and 3 metres at 17.5g/t Au from 93 metres.
High grade results returned from the one metre split sampling of the drilling (Figure 2) are restricted to the Central and Eastern zones and include
Eastern Zone
-
16 metres at 6.00g/t Au from 118 metres including 4 metres at 15.3g/t Au from 121 metres,
-
7 metres at 9.98g/t Au from 109 metres including 2 metres at 18.5g/t Au from 109 metres and 1 metre at 19.4g/t Au from 114 metres,
-
13 metres at 4.22g/t Au from 89 metres including 2 metres at 16.8g/t Au from 92 metres,
-
3 metres at 14.9g/t Au from 132 metres including 1 metre @ 38.0g/t Au from 132 metres,
Central Zone
- 2 metres at 27.3g/t Au from 161 metres including 1 metre at 53.6g/t Au from 161 metres
All significant (≥1.0g/t Au) results returned from the one metre split sampling of the RC drilling are included as Table 1.
The results from the one metre split sampling support interpretations that the mineralisation at the Redback Prospect is contained within three interpreted zones (Eastern, Central and Western). The nuggetty nature of the Redback mineralisation, identified by previous screen fire assay analysis, is supported within the results from the drilling, by the variation in grade and/or widths of mineralisation between the previous composite sampling and the subsequent completed one metre split sampling. The grade variation between the sample types has had an overall result of increased grade and/or widths within Eastern Zone mineralised zones, however some downgrade in
==> picture [236 x 338] intentionally omitted <==
Figure 1 Spargoville Gold Project prospect location plan.
grade and/or widths are notable within Central Zone mineralised zones. The composite and one metre split intercepts for highly significant (≥1.0g/t Au and ≥10 gram metre) intercepts returned from the drilling are tabulated below, (Table 2).
In the south of the Redback Prospect, drillhole SPRC075 returned a highly anomalous result of 16 metres at 6.00g/t Au from 118m including 4 metres at 15.3g/t Au from 121 metres from the one metre split sampling. This represents an increase of nearly 100%, relative to the initial anomalous composite intercept of 12 metres at 4.17g/t Au from 120 metres including 4 metres at 6.70g/t Au from 124 metres. This southern mineralisation is associated with weak to moderate biotite alteration and sulphide mineralisation which was related to mineralisation at the nearby high grade Wattle Dam Gold Mine.
The high grade mineralisation at Redback remains open in several directions, (Figure 3).
One metre split sampling from the drilling at Trapdoor did not return any significant results with a maximum of 1 metre at 2.90g/t Au from 137 metres (SPRC085) returned. No immediate further drilling is planned at Trapdoor.
~~2~~
Tychean Resources Ltd • Quarterly Report for the period ending 31 December 2014
==> picture [236 x 336] intentionally omitted <==
Figure 2 Spargoville Gold Project, Golden Orb area summary drilling plan.
Table 1 Significant (≥1.0g/t Au and ≥4 gram metre) intercepts – RC drilling, November 2014
==> picture [237 x 32] intentionally omitted <==
----- Start of picture text -----
Hole ID From To Length Au Zone
(m) (m) (m) (ppm)
----- End of picture text -----
| Hole ID | From (m) |
To (m) |
Length (m) |
Au (ppm) |
Zone |
|---|---|---|---|---|---|
| SPRC060 | 63 | 64 | 1 | 4.15 | Felsic |
| SPRC063 | 66 | 68 | 2 | 2.31 | Central |
| SPRC066 | 43 | 47 | 4 | 1.35 | Western |
| 87 | 89 | 2 | 3.68 | Eastern | |
| incl | 87 | 88 | 1 | 6.31 | Eastern |
| SPRC067 | 81 | 83 | 2 | 2.40 | Western |
| SPRC069 | 57 | 59 | 2 | 3.27 | Western |
| 132 | 135 | 3 | 14.9 | Eastern | |
| incl | 132 | 133 | 1 | 38.0 | Eastern |
| SPRC070 | 152 | 156 | 4 | 4.28 | Western |
| incl | 153 | 155 | 2 | 6.22 | Western |
| 167 | 175 | 8 | 3.90 | Central | |
| incl | 168 | 170 | 2 | 9.94 | Central |
==> picture [237 x 32] intentionally omitted <==
----- Start of picture text -----
Hole ID From To Length Au Zone
(m) (m) (m) (ppm)
----- End of picture text -----
| Hole ID | From (m) |
To (m) |
Length (m) |
Au (ppm) |
Zone |
|---|---|---|---|---|---|
| SPRC071 | 7 | 9 | 2 | 5.50 | Laterite |
| incl | 8 | 9 | 1 | 9.27 | Laterite |
| 62 | 63 | 1 | 3.28 | Western | |
| 79 | 80 | 1 | 4.29 | Western | |
| 104 | 110 | 6 | 1.90 | Western | |
| 132 | 134 | 2 | 2.65 | Central | |
| SPRC074 | 223 | 227 | 4 | 1.53 | Central |
| 233 | 238 | 5 | 2.01 | Eastern | |
| 241 | 246 | 5 | 1.61 | Eastern | |
| SPRC075 | 85 | 89 | 4 | 1.81 | Western |
| 97 | 104 | 7 | 3.29 | Central | |
| incl | 101 | 103 | 2 | 5.68 | Central |
| 118 | 134 | 16 | 6.00 | Eastern | |
| incl | 121 | 125 | 4 | 15.3 | Eastern |
| 138 | 140 | 2 | 2.39 | Eastern | |
| SPRC076 | 84 | 90 | 6 | 1.42 | Western |
| 109 | 116 | 7 | 9.98 | Eastern | |
| incl | 109 | 111 | 2 | 18.5 | Eastern |
| and | 114 | 115 | 1 | 19.4 | Eastern |
| SPRC077 | 38 | 40 | 2 | 2.47 | Eastern |
| 44 | 45 | 1 | 5.14 | Eastern | |
| SPRC080 | 89 | 102 | 13 | 4.22 | Eastern |
| incl | 92 | 94 | 2 | 16.8 | Eastern |
| SPRC081 | 78 | 79 | 1 | 4.69 | Western |
| SPRC082 | 40 | 42 | 2 | 8.84 | Eastern |
| incl | 41 | 42 | 1 | 12.5 | Eastern |
| 119 | 122 | 3 | 2.02 | Western | |
| 138 | 145 | 7 | 6.46 | Eastern | |
| incl | 144 | 146 | 2 | 14.3 | Eastern |
| SPRC083 | 153 | 157 | 4 | 2.18 | Eastern |
| SPRC087 | 82 | 84 | 2 | 2.06 | Western |
| 132 | 140 | 8 | 2.65 | Western | |
| incl | 135 | 136 | 1 | 8.71 | Western |
| 161 | 163 | 2 | 27.3 | Central | |
| incl | 161 | 162 | 1 | 53.6 | Central |
| 185 | 186 | 1 | 4.04 | Eastern | |
| 191 | 192 | 1 | 5.81 | Eastern |
~~3~~
Tychean Resources Ltd • Quarterly Report for the period ending 31 December 2014
Table 2: Highly significant (≥1.0g/t Au and ≥10 gram metre) initial composite and subsequent one metre split intercept comparison – RC drilling, November 2014
==> picture [495 x 51] intentionally omitted <==
----- Start of picture text -----
ONE METRE SPLIT INTERCEPTS COMPOSITE INTERCEPTS
Zone
Hole ID From To Length Au Hole ID From To Length Au
(m) (m) (m) (g/t) (m) (m) (m) (g/t)
----- End of picture text -----
| ONE METRE SPLIT INTERCEPTS | ONE METRE SPLIT INTERCEPTS | ONE METRE SPLIT INTERCEPTS | ONE METRE SPLIT INTERCEPTS | ONE METRE SPLIT INTERCEPTS | Zone | COMPOSITE INTERCEPTS | COMPOSITE INTERCEPTS | COMPOSITE INTERCEPTS | COMPOSITE INTERCEPTS | COMPOSITE INTERCEPTS |
|---|---|---|---|---|---|---|---|---|---|---|
| Hole ID | From (m) |
To (m) |
Length (m) |
Au (g/t) |
Hole ID | From (m) |
To (m) |
Length (m) |
Au (g/t) |
|
| SPRC069 | 57 | 59 | 2 | 3.27 | Western | SPRC069 | 56 | 60 | 4 | 1.63 |
| SPRC069 | 132 | 135 | 3 | 14.9 | Eastern | SPRC069 | 132 | 136 | 4 | 5.42 |
| incl | 132 | 133 | 1 | 38.0 | Eastern | |||||
| SPRC070 | 152 | 156 | 4 | 4.28 | Western | SPRC070 | 152 | 156 | 4 | 3.52 |
| incl | 153 | 155 | 2 | 6.22 | Western | |||||
| SPRC070 | 167 | 175 | 8 | 3.90 | Central | SPRC070 | 168 | 176 | 8 | 3.64 |
| incl | 168 | 170 | 2 | 9.94 | Central | |||||
| SPRC071 | 7 | 9 | 2 | 5.50 | Supergene | SPRC071 | 8 | 12 | 4 | 1.13 |
| incl | 8 | 9 | 1 | 9.27 | Supergene | |||||
| SPRC071 | 104 | 110 | 6 | 1.90 | Western | SPRC071 | 104 | 112 | 8 | 1.44 |
| SPRC071 | 132 | 134 | 2 | 2.65 | Central | SPRC071 | 132 | 136 | 4 | 10.7 |
| SPRC074 | 223 | 227 | 4 | 1.53 | Central | SPRC074 | 220 | 228 | 8 | 1.47 |
| SPRC074 | 233 | 238 | 5 | 2.01 | Eastern | SPRC074 | 232 | 244 | 12 | 1.72 |
| SPRC075 | 97 | 104 | 7 | 3.29 | Central | SPRC075 | 100 | 104 | 4 | 3.93 |
| incl | 101 | 103 | 2 | 5.68 | Central | |||||
| SPRC075 | 118 | 134 | 16 | 6.00 | Eastern | SPRC075 | 120 | 132 | 12 | 4.17 |
| incl | 121 | 125 | 4 | 15.3 | Eastern | including | 124 | 128 | 4 | 6.70 |
| SPRC076 | 109 | 116 | 7 | 9.98 | Eastern | SPRC076 | 108 | 116 | 8 | 7.20 |
| incl | 109 | 111 | 2 | 18.5 | Eastern | including | 108 | 112 | 4 | 9.84 |
| and | 114 | 115 | 1 | 19.4 | Eastern | |||||
| SPRC080 | 89 | 102 | 13 | 4.22 | Eastern | SPRC080 | 92 | 100 | 8 | 4.55 |
| incl | 92 | 94 | 2 | 16.8 | Eastern | including | 92 | 96 | 4 | 7.43 |
| SPRC082 | 40 | 42 | 2 | 8.84 | Eastern | SPRC082 | 40 | 44 | 4 | 3.43 |
| incl | 41 | 42 | 1 | 12.5 | Eastern | |||||
| SPRC082 | 138 | 145 | 7 | 6.46 | Eastern | SPRC082 | 136 | 148 | 12 | 2.13 |
| incl | 144 | 146 | 2 | 14.3 | Eastern | |||||
| SPRC087 | 132 | 140 | 8 | 2.65 | Western | SPRC087 | 132 | 140 | 8 | 2.38 |
| incl | 135 | 136 | 1 | 8.71 | Western | |||||
| SPRC087 | 161 | 163 | 2 | 27.3 | Central | SPRC087 | 160 | 164 | 4 | 29.1 |
| incl | 161 | 162 | 1 | 53.6 | Central |
~~4~~
Tychean Resources Ltd • Quarterly Report for the period ending 31 December 2014
==> picture [494 x 327] intentionally omitted <==
Figure 3 Spargoville Gold Project, Redback Prospect longitudinal projection, December 2014.
REDBACK PROSPECT FOLLOW-UP RC DRILLING PROGRAMME COMPLETED
During November/December 2014, a total of 23 RC holes for 3,526 metres was completed to infill and extend previously intersected high grade gold mineralisation at the Redback Prospect.
All results from this current drilling are expected to be received and reported by mid-January 2015.
Results from this current RC program will determine whether further drilling is required prior to the company determining a maiden gold resource estimation for the Redback Prospect.
CORE FARM PALEOCHANNEL AIRCORE DRILLING
The results from the 148 hole, 2,376 metre aircore drilling programme, completed in September 2014, continue to highlight paleochannel gold intersections within two separate interpreted paleochannel trends, (Figure 4). The results returned from the recent drilling are not of the tenor received from previous drilling along the paleochannel trends and consequently has resulted in interpretations that the high grade components of the paleochannel trends being localised in nature, has reduced the potential for economic gold mineralisation within the area of drilling completed to date.
==> picture [223 x 317] intentionally omitted <==
Figure 4 Core Farm Gold Prospect drill hole location plan.
~~5~~
Tychean Resources Ltd • Quarterly Report for the period ending 31 December 2014
All significant (≥1.0g/t Au) results from the drilling are included in Table 3.
The focus of future drilling at the Core Farm Prospect will comprise aircore drilling in order to extend the eastern mineralised paleochannel gold trend which remains open to the southeast and RC drilling which will be orientated to test for potential bedrock sources to the interpreted high grade paleochannel mineralisation.
Table 3: Significant (≥1.0g/t Au) intercepts – aircore drilling, Oct 2014
==> picture [236 x 33] intentionally omitted <==
----- Start of picture text -----
Hole ID From To Length Au
(m) (m) (m) (g/t)
----- End of picture text -----
| Hole ID | From (m) |
To (m) |
Length (m) |
Au (g/t) |
|---|---|---|---|---|
| SPAC0379 | 15 | 17 | 2 | 5.58 |
| incl | 15 | 16 | 1 | 8.81 |
| SPAC0380 | 16 | 17 | 1 | 1.45 |
| SPAC0383 | 16 | 17 | 1 | 2.19 |
| SPAC0385 | 16 | 17 | 1 | 3.36 |
| SPAC0386 | 16 | 17 | 1 | 2.70 |
| SPAC0396 | 12 | 15 | 3 | 1.13 |
| SPAC0397 | 15 | 16 | 1 | 7.28 |
| SPAC0398 | 14 | 15 | 1 | 2.14 |
| SPAC0399 | 15 | 16 | 1 | 4.03 |
| SPAC0420 | 12 | 13 | 1 | 1.24 |
| SPAC0425 | 11 | 12 | 1 | 2.25 |
| SPAC0426 | 15 | 16 | 1 | 9.66 |
| SPAC0427 | 17 | 18 | 1 | 2.34 |
| SPAC0428 | 14 | 15 | 1 | 2.73 |
| SPAC0443 | 14 | 15 | 1 | 3.09 |
| SPAC0448 | 14 | 15 | 1 | 6.40 |
| SPAC0449 | 14 | 15 | 1 | 5.03 |
| SPAC0456 | 12 | 13 | 1 | 2.48 |
| SPAC0456 | 15 | 16 | 1 | 1.22 |
| SPAC0458 | 14 | 15 | 1 | 1.94 |
| SPAC0458 | 17 | 18 | 1 | 1.98 |
| SPAC0459 | 15 | 18 | 3 | 2.76 |
| SPAC0461 | 14 | 15 | 1 | 6.42 |
| SPAC0463 | 10 | 11 | 1 | 1.09 |
| SPAC0463 | 12 | 13 | 1 | 1.19 |
| SPAC0481 | 15 | 16 | 1 | 1.20 |
Western Australia
Valley Floor Gold Project
No exploration activities were completed during the quarter.
Northern Territory
Tanami Farm-In and Joint Venture Agreement (Ramelius earning 85%)
Ramelius has commenced its farm-in on a package of two granted exploration licences (ELs) and six EL applications in the Northern Territory.
The tenement package, located within 100km of Newmont’s 4.5 million plus ounce Callie gold mine within the Northern Territory Tanami Complex (Figure 5) represents a unique opportunity to explore over 1,700km[2] of prospective Paleoproterozoic stratigraphy within a significant yet underexplored gold province.
The Company’s inaugural RC drilling programme within its Tanami joint venture project where drilling will scope for buried Callie style gold mineralisation within the granted EL26625 (Suplejack) was planned for the December quarter, however, due to extreme weather events this program has now been deferred until March 2015.
==> picture [236 x 344] intentionally omitted <==
Figure 5 Tanami Farm-Out project locations.
~~6~~
Tychean Resources Ltd • Quarterly Report for the period ending 31 December 2014
Competent Persons Statement
The information contained in this release that relates to exploration results, mineralisation and target generation is based on information compiled by Mr Matthew Svensson, who is a Member of the Australasian Institute of Geologists (MAIG) and a full time employee of the Company. Mr. Svensson has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Svensson consents to the inclusion in this release of the matters based on his information in the form and context in which it appears.
This release contains previously announced exploration results. The Company is not aware of any new information or data that materially affects the information included in the current market announcement.
28/03/2014 – High grade gold in new results from Spargoville in WA
02/05/2014 – Spargoville (WA) aircore gold resample results
19/06/2014 – High grade paleochannel gold intersected in aircore drilling
28/07/2014 – Spargoville aircore resample results
22/09/2014 – High grade single metre gold results from Spargoville WA
05/12/2014 – Redback prospect high grade gold results
Joe Houldsworth MANAGING DIRECTOR
For further information please contact: Mr Joe Houldsworth Managing Director, Tychean Resources Limited on 0487 924 326 or Investor relations: Mr Duncan Gordon, Executive Director, Adelaide Equity Partners on 0404 006 444 Further information relating to Tychean Resources Ltd and its various exploration projects can be found on its website: www.tycheanresources.com
~~7~~
Tychean Resources Ltd • Quarterly Report for the period ending 31 December 2014
SCHEDULE OF INTERESTS IN MINING TENEMENTS
As at 31 December 2014
==> picture [494 x 23] intentionally omitted <==
----- Start of picture text -----
Project Tenement Lease name State Status % held by TYK Holders
----- End of picture text -----
| Project | Tenement | Lease name | State | Status | % held by TYK | Holders |
|---|---|---|---|---|---|---|
| Spargoville | M15/1475 | Eagles Nest | WA | Granted | 100% | TYCHEAN RESOURCES LTD |
| Spargoville | E15/967 | Kambalda West | WA | Granted | 100% - No Nickel Rights | TYCHEAN RESOURCES LTD |
| Spargoville | E15/968 | Kambalda West | WA | Granted | 100% - No Nickel Rights | TYCHEAN RESOURCES LTD |
| Spargoville | L15/128 | Kambalda West | WA | Granted | 100% - No Nickel Rights | TYCHEAN RESOURCES LTD |
| Spargoville | L15/255 | Kambalda West | WA | Granted | 100% - No Nickel Rights | TYCHEAN RESOURCES LTD |
| Spargoville | M15/395 | Kambalda West | WA | Granted | 100% - No Nickel Rights | TYCHEAN RESOURCES LTD |
| Spargoville | M15/703 | Kambalda West | WA | Granted | 100% - No Nickel Rights | TYCHEAN RESOURCES LTD |
| Spargoville | P15/5860 | Kambalda West | WA | Granted | 100% - No Nickel Rights | TYCHEAN RESOURCES LTD |
| Spargoville | P15/4884 | Kambalda West | WA | Granted | 100% - No Nickel Rights | TYCHEAN RESOURCES LTD |
| Spargoville | P15/4885 | Kambalda West | WA | Granted | 100% - No Nickel Rights | TYCHEAN RESOURCES LTD |
| Spargoville | P15/4963 | Kambalda West | WA | Granted | 100% - No Nickel Rights | TYCHEAN RESOURCES LTD |
| Spargoville | M15/1448 | Hilditch | WA | Granted | 90% | BULLABULLING PTY LTD TYCHEAN RESOURCES LTD |
| Spargoville | M15/1449 | Larkinville | WA | Granted | 75% 80% Ni Rights |
TYCHEAN RESOURCES LTD PIONEER RESOURCES LTD |
| Spargoville | P15/4765 | Villa Deste | WA | Granted | 75% 80% Ni Rights |
TYCHEAN RESOURCES LTD PIONEER RESOURCES LTD |
| Spargoville | P15/5912 | Villa Deste | WA | Pending | 75% 80% Ni Rights |
TYCHEAN RESOURCES LTD PIONEER RESOURCES LTD |
| Spargoville | M15/100 | North Widgie | WA | Granted | 100% AU rights only | AUSTRALIAN NICKEL MINES PTY LTD |
| Spargoville | M15/101 | North Widgie | WA | Granted | 100% AU rights only | AUSTRALIAN NICKEL MINES PTY LTD |
| Spargoville | M15/102 | North Widgie | WA | Granted | 100% AU rights only | AUSTRALIAN NICKEL MINES PTY LTD |
| Spargoville | M15/1271 | North Widgie | WA | Granted | 100% AU rights only | AUSTRALIAN NICKEL MINES PTY LTD |
| Spargoville | M15/653 | North Widgie | WA | Granted | 100% AU rights only | AUSTRALIAN NICKEL MINES PTY LTD |
| Spargoville- | M15/97 | North Widgie | WA | Granted | 100% AU rights only | AUSTRALIAN NICKEL MINES PTY LTD |
| Spargoville | M15/99 | North Widgie | WA | Granted | 100% AU rights only | AUSTRALIAN NICKEL MINES PTY LTD |
| Spargoville | M15/1101 | Wattle Dam | WA | Granted | 100% 80% Ni Rights |
TYCHEAN RESOURCES LTD |
| Spargoville | M15/1263 | Wattle Dam | WA | Granted | 100% 80% Ni Rights |
TYCHEAN RESOURCES LTD |
~~8~~
Tychean Resources Ltd • Quarterly Report for the period ending 31 December 2014
==> picture [494 x 24] intentionally omitted <==
----- Start of picture text -----
Project Tenement Lease name State Status % held by TYK Holders
----- End of picture text -----
| Project | Tenement | Lease name | State | Status | % held by TYK | Holders |
|---|---|---|---|---|---|---|
| Spargoville | M15/1264 | Wattle Dam | WA | Granted | 100% 80% Ni Rights |
TYCHEAN RESOURCES LTD |
| Spargoville | M15/1323 | Wattle Dam | WA | Granted | 100% 80% Ni Rights |
TYCHEAN RESOURCES LTD |
| Spargoville | M15/1338 | Wattle Dam | WA | Granted | 100% 80% Ni Rights |
TYCHEAN RESOURCES LTD |
| Spargoville | M15/1474 | Wattle Dam | WA | Granted | 100% | TYCHEAN RESOURCES LTD |
| Spargoville | M15/1769 | Wattle Dam | WA | Granted | 100% 80% Ni Rights |
TYCHEAN RESOURCES LTD |
| Spargoville | M15/1770 | Wattle Dam | WA | Granted | 100% 80% Ni Rights |
TYCHEAN RESOURCES LTD |
| Spargoville | M15/1771 | Wattle Dam | WA | Granted | 100% 80% Ni Rights |
TYCHEAN RESOURCES LTD |
| Spargoville | M15/1772 | Wattle Dam | WA | Granted | 100% 80% Ni Rights |
TYCHEAN RESOURCES LTD |
| Spargoville | M15/1773 | Wattle Dam | WA | Granted | 100% 80% Ni Rights |
TYCHEAN RESOURCES LTD |
| Spargoville | M15/1774 | Wattle Dam | WA | Granted | 100% | TYCHEAN RESOURCES LTD |
| Spargoville | M15/1775 | Wattle Dam | WA | Granted | 100% | TYCHEAN RESOURCES LTD |
| Spargoville | M15/1776 | Wattle Dam | WA | Granted | 100% | TYCHEAN RESOURCES LTD |
| Spargoville | P15/5953 | Wattle Dam | WA | Pending | 100% | TYCHEAN RESOURCES LTD |
| Valley Floor | E15/1249 | Lake Lefroy | WA | Granted | 100% | VALLEY FLOOR RESOURCES PTY LTD |
| Valley Floor | E15/1399 | Lefroy South | WA | Granted | 100% | VALLEY FLOOR RESOURCES PTY LTD |
| Valley Floor | E15/1434 | Valley Floor Ext | WA | Pending | 100% | TYCHEAN RESOURCES LTD |
| Valley Floor | E15/1438 | Valley Floor Ext | WA | Pending | 100% | TYCHEAN RESOURCES LTD |
| Tanami | EL 26625 | Suplejack | NT | Granted | 100% | TYCHEAN RESOURCES LTD |
| Tanami | EL 27511 | Highland Rocks | NT | Pending | 100% | TYCHEAN TANAMI PTY LTD |
| Tanami | EL 27806 | Talbot North | NT | Granted | 100% | TYCHEAN TANAMI PTY LTD |
| Tanami | EL 27921 | Groundrush | NT | Pending | 100% | TYCHEAN RESOURCES LTD |
| Tanami | EL 27995 | Officer Hills South | NT | Pending | 100% | TYCHEAN RESOURCES LTD |
| Tanami | EL 27997 | Mount Solitaire | NT | Pending | 100% | TYCHEAN RESOURCES LTD |
| Tanami | EL 28493 | Groundrush South | NT | Pending | 100% | TYCHEAN RESOURCES LTD |
| Tanami | EL 29829 | Highland Rocks 2 | NT | Pending | 100% | TYCHEAN TANAMI PTY LTD |
~~9~~
Tychean Resources Ltd • Quarterly Report for the period ending 31 December 2014
Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report
Rule 5.5
Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10, 01/05/2013
Name of entity
TYCHEAN RESOURCES LTD
ABN 40 119 031 864
Quarter ended (“current quarter”) 31 DECEMBER 2014
Consolidated statement of cash flows
| Cash flows related to operating activities 1.1 Receipts from product sales and related debtors 1.2 Payments for (a) exploration & evaluation (b) development (c) production (d) administration 1.3 Dividends received 1.4 Interest and other items of a similar nature received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Other (provide details if material) Net Operating Cash Flows |
Current quarter $A’000 |
Year to date (6 months) $A’000 |
|---|---|---|
| (706) (190) 9 |
(1,291) (416) 13 |
|
| (887) | (1,694) | |
| Cash flows related to investing activities 1.8 Payment for purchases of: (a) prospects (b) equity investments (c) other fixed assets 1.9 Proceeds from sale of: (a) prospects (b) equity investments (c) other fixed assets 1.10 Loans to other entities 1.11 Loans repaid by other entities 1.12 Other (provide details if material) Net investing cash flows 1.13 Total operating and investing cash flows (carried forward) |
||
| - | - | |
| (887) | (1,694) |
- See chapter 19 for defined terms.
01/05/2010 Appendix 5B Page 1
Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report
| 1.13 Total operating and investing cash flows (brought forward) |
(887) | (1,694) |
|---|---|---|
| Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc. 1.15 Proceeds from sale of forfeited shares 1.16 Proceeds from borrowings 1.17 Repayment of borrowings 1.18 Dividends paid 1.19 Other (provide details if material) Net financing cash flows |
(6) | 812 (79) |
| (6) | 733 | |
| Net increase (decrease) in cash held 1.20 Cash at beginning of quarter/year to date 1.21 Exchange rate adjustments to item 1.20 1.22 Cash at end ofquarter |
(893) 1,031 |
(961) 1,099 |
| 138 | 138 |
Payments to directors of the entity, associates of the directors, related entities of the entity and associates of the related entities
| 1.23 1.24 |
Aggregate amount of payments to the parties included in item 1.2 Aggregate amount of loans to the parties included in item 1.10 |
Current quarter $A'000 |
|---|---|---|
| 104 | ||
| - | ||
| 1.25 | Explanation necessaryfor an understandingof the transactions | |
Non-cash financing and investing activities
-
2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows
-
See chapter 19 for defined terms.
Appendix 5B Page 2
01/05/2013
Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
- 2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest
Financing facilities available
Add notes as necessary for an understanding of the position.
- 3.1 Loan facilities 3.2 Credit standby arrangements
| Amount available | Amount used | |
|---|---|---|
| $A’000 | $A’000 | |
Estimated cash outflows for next quarter
| 4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 Administration |
$A’000 |
|---|---|
| 60 | |
| 40 | |
| Total | 100 |
Reconciliation of cash
| Reconciliation of cash | ||
|---|---|---|
| Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows. |
Current quarter $A’000 |
Previous quarter $A’000 |
| 5.1 Cash on hand and at bank 5.2 Deposits at call 5.3 Bank overdraft 5.4 Other (provide details) |
138 | 132 |
| 900 | ||
| Total: cash at end of quarter(item 1.22) | 138 | 1,032 |
- See chapter 19 for defined terms.
01/05/2010 Appendix 5B Page 3
Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report
Changes in interests in mining tenements and petroleum tenements
| Changes in interests in mining tenements and petroleum tenements | Changes in interests in mining tenements and petroleum tenements | Changes in interests in mining tenements and petroleum tenements | Changes in interests in mining tenements and petroleum tenements | Changes in interests in mining tenements and petroleum tenements |
|---|---|---|---|---|
| Tenement reference and location Nature of interest (note (2)) Interest at beginning of quarter Interest at end of quarter 6.1 Interests in mining tenements and petroleum tenements relinquished, reduced or lapsed 6.2 Interests in mining tenements and petroleum tenements acquired or increased P15/5953 Holder 0% 100% Issued and quoted securities at end of current quarter Description includes rate of interest and any redemption or conversion rights together with prices and dates. |
||||
| Total number | Number quoted | Issue price per security (see note3) (cents) |
Amount paid up per security (see note3) (cents) |
|
| 7.1 Preference +securities (description) 7.2 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs, redemptions |
||||
| 7.3 +Ordinary securities 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs |
2,003,631,090 | 2,003,631,090 | ||
| 388,869 | 388,869 | $0.006 | $0.006 | |
| 7.5 +Convertible debt securities (description) |
- See chapter 19 for defined terms.
Appendix 5B Page 4
01/05/2013
Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
| 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted |
||||
|---|---|---|---|---|
| 7.7 Options (description and conversion factor) 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter |
318,377,280 | 318,377,280 | Exercise price $0.006 |
Expiry date 30 June 2015 |
| 7.11 Debentures (totals only) |
||||
| 7.12 Unsecured notes(totals only) |
Compliance statement
-
1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 5).
-
2 This statement does give a true and fair view of the matters disclosed.
==> picture [78 x 84] intentionally omitted <==
21 January 2015 Sign here: ............................................................ Date: ............................ (Company secretary) Justin Nelson Print name: .........................................................
Notes
- See chapter 19 for defined terms.
01/05/2010 Appendix 5B Page 5
Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report
-
1 The quarterly report provides a basis for informing the market how the entity’s activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.
-
2 The “Nature of interest” (items 6.1 and 6.2) includes options in respect of interests in mining tenements and petroleum tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement or petroleum tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.
-
3 Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities .
-
4 The definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report.
-
5 Accounting Standards ASX will accept, for example, the use of International Financial Reporting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.
== == == == ==
- See chapter 19 for defined terms.
Appendix 5B Page 6
01/05/2013