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DREADNOUGHT RESOURCES LTD — Regulatory Filings 2014
Aug 11, 2014
64785_rns_2014-08-11_74794910-26bb-4ea4-8ed8-42321d8e068e.pdf
Regulatory Filings
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Australian Securities Exchange Announcement
12 August 2014
ASX Market Announcements Australian Securities Exchange 20 Bridge Street SYDNEY NSW 2000
– Exploration Update Spargoville (WA)
Highlights
-
5B Prospect – 6m @ 9.05g/t Au from 76m including 2m @ 21.0g/t Au from 78m
-
Golden Orb South – 18m @ 2.46g/t Au from 84m including 1m @ 17.4g/t Au from 84m and 1m @ 8.43g/t Au from 95m
-
Hilditch Gold – 4m @ 2.41g/t Au from 140m
-
RC Drilling completed to further test Golden Orb Area and Hilditch Gold Anomalism.
Tychean Resources Ltd (ASX: TYK) ( Tychean or Company ) is pleased to announce receipt of the analysis from all single metre split results collected from previously announced significant composite samples from Reverse Circulation (RC) drilling completed late in May 2014. Tychean is also pleased to announce the completion (9 August 2014) of a follow up RC Drilling Programme (31 holes for 4,064 metres) which was designed to further evaluate anomalous results returned from recent and previous drilling within the Golden Orb area and Hilditch Gold prospect. All of the above exploration was completed within the Company’s wholly owned Spargoville Gold Project in the Eastern Goldfields of Western Australia, (Figure 1).
- RC Drilling Re split Results
5B Deposit
The completed RC drilling was designed to confirm, further define and extend an historic Indicated and Inferred gold resource[1] . A maximum result of 6m @ 9.05g/t Au from 76m including 2m @ 21.0g/t Au from 78m (SPRC004) was returned from the one metre split samples collected from the drilling completed in the core of the existing gold resource. Other one metre split results returned gold results comparable with the initial four metre composite results[2] . All single metre split samples from 5B were analysed for gold, platinum and palladium and identified anomalous platinum and palladium results associated with the significant gold
results, (Table 1).
Gold mineralisation at 5B is hosted predominantly within ultramafic lithologies adjacent to or in contact with footwall mafic lithologies to the east. The dip of the contact and mineralisation varies between -60 to -75 degrees towards the west.
The completed drilling confirmed the high grade mineralisation within the existing gold resource[1] and highlighted potential for down plunge extensions to gold mineralisation to the south.
All recent RC drill collars and results are depicted on Figures 2 and 3, relative to existing infrastructure and tenement boundaries.
Trapdoor
Updated prospect names have been assigned to the prospects within the area of the Golden Orb prospect, (Figure 4). The prospect formerly referred to as Golden Orb South has been rebadged to the Trapdoor prospect , whilst the Golden Orb East area has been divided into two prospects, namely Redback and Huntsman .
The one metre split samples collected from the completed RC drilling at Trapdoor returned a maximum anomalous result of 18m @ 2.46g/t Au from 84m including 1m @ 17.4g/t Au from 84m and 1m @ 8.43g/t Au from 95m (SPRC011), interpreted to be associated with a mafic volcanic unit trending north south, in contact to the West with felsic intrusives. The significant intercept is located down dip of interpreted supergene mineralisation intersected by previous Tychean Air Core drilling including 1m @ 37.6g/t Au from 41m and 1m @ 12.1g/t Au from 41m[3] .
Follow up RC drilling has recently been completed to further evaluate extensions and grade at depth and along strike of the anomalous result. All results are pending.
Hilditch Gold
The completed RC drilling was completed to test for northern and southern plunge extensions to near surface gold mineralisation within previous drilling and historical workings. The prospect is located 10 kilometres along strike to the north of Wattle Dam. A one metre split interval result of 4m @ 2.41g/t Au from 140m to end of hole was returned. The anomalous result was returned from a sheared ultramafic adjacent to a thin sediment horizon, which marks the contact between the ultramafic and footwall, high Mg mafic. The interpreted structure and geology at Hilditch Gold shows similarities to the high grade Wattle Dam Gold Mine, which is located 10 kilometres along strike to the south. Further drilling is required to test for dip and strike to the anomalous result.
Due to the similarities between the Hilditch Gold prospect and Wattle Dam, a follow up programme of RC drilling has now been completed. All results are pending.
All updated significant results returned from the re-split sampling of the drilling are included within Tables 1 and 2 and all collar details as Table 3.
Table 1: Updated Significant (≥0.5g/t Au) Intercepts (SPRC0001 – 0006) – Single Metre Split Results, RC Drilling May 2014
| Hole ID | From (m) |
To (m) |
Length (m) |
Au (ppm) |
Pd (ppm) |
Pt (ppm) |
|---|---|---|---|---|---|---|
| SPRC001 including |
117 | 121 | 4 | 2.05 | 0.13 | 0.05 |
| 118 | 119 | 1 | 5.29 | 0.05 | 0.02 | |
| SPRC002 | 90 | 92 | 2 | 0.66 | 0.02 | 0.02 |
| SPRC003 including |
91 | 95 | 4 | 2.09 | 0.41 | 0.19 |
| 93 | 94 | 1 | 4.88 | 1.19 | 0.54 | |
| SPRC004 including |
76 | 81 | 6 | 9.05 | 0.62 | 0.33 |
| 78 | 80 | 2 | 21.0 | 1.20 | 0.67 | |
| SPRC005 including |
93 | 97 | 4 | 0.95 | 0.14 | 0.05 |
| 96 | 97 | 1 | 1.38 | 0.32 | 0.09 |
Table 2: Updated Significant (≥0.5/t Au) Intercepts (SPRC0007 – 0028) – Single Metre Split Results, RC Drilling May 2014
| Hole ID | From (m) |
To (m) |
Length (m) |
Au (ppm) |
Prospect | Comments |
|---|---|---|---|---|---|---|
| SPRC007 and |
16 | 22 | 6 | 1.71 | Core Farm | |
| 53 | 54 | 1 | 0.58 | Core Farm | ||
| SPRC010 and |
65 | 71 | 6 | 1.28 | Trapdoor | |
| 75 | 79 | 4 | 0.75 | Trapdoor | ||
| SPRC011 including and |
84 | 102 | 18 | 2.46 | Trapdoor | |
| 84 | 85 | 1 | 17.4 | Trapdoor | ||
| 95 | 96 | 1 | 8.43 | Trapdoor | ||
| SPRC016 | 62 | 68 | 6 | 0.91 | Huntsman | |
| SPRC024 | 140 | 144 | 4 | 2.41 | Hilditch Gold | End of Hole |
| SPRC028 | 43 | 44 | 1 | 3.4 | Fugitive |
Follow Up RC Drill Programme
A programme of RC Drilling has recently been completed to further evaluate several gold anomalous drill intercepts and trends identified at the Redback, Huntsman, Trapdoor and Hilditch Gold prospects. A total of 31 holes for 4,604m were completed. All results are pending.
Drill collars from the completed RC are tabulated below, (Table 4), and depicted on Figures 4
and 5.
For further information please contact:
Mr. Joe Houldsworth Mr. Duncan Gordon Managing Director Executive Director Tychean Resources Ltd Adelaide Equity Partners Limited M: 0487 924 326 M: 0404 006 444
Further information relating to Tychean Resources Ltd and its various exploration projects can be found at its website: www.tycheanresources.com
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 announcement 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.
1 - Breakaway Resources Limited ASX Announcement 18 June 2004 - Kambalda West Project 5B Nickel Resource Upgrade.
2 - Tychean Resources Limited ASX Announcement 20 June 2014 - Significant Composite Gold Results from RC Drilling at Spargoville (WA).
3 - Tychean Resources Limited ASX Announcement 2 May 2014 - Spargoville (WA) – Aircore Gold Resample Results.
4 - Tychean Resources Limited ASX Announcement 28 July 2014 – Spargoville Air Core Resample Results.
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Figure 1 – Spargoville Gold Project – Prospect Location Plan
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Figure 2 – Spargoville Gold Project – 5B Collar and Tenure Plan
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Figure 3 – Spargoville Gold Project – 5B Deposit Drilling Summary
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Fig
ure 4 – Spargoville Gold Project – Golden Orb Area Drilling Summary August 2014
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Fig
ure 5 – Spargoville Gold Project – Hilditch Gold Drilling Summary August 2014
Table 3: Drill Hole Collar Details – RC Drilling May 2014
| Hole ID | Easting (GDA) |
Northing (GDA) |
RL (m) |
Azimuth | Dip | Total Depth (m) |
Prospect |
|---|---|---|---|---|---|---|---|
| SPRC001 | 357750 | 6528700 | 346 | 90 | -60 | 150 | 5B |
| SPRC002 | 357775 | 6528720 | 346 | 90 | -60 | 110 | 5B |
| SPRC003 | 357780 | 6528750 | 346 | 90 | -60 | 108 | 5B |
| SPRC004 | 357790 | 6528760 | 346 | 90 | -55 | 100 | 5B |
| SPRC005 | 357770 | 6528770 | 346 | 90 | -60 | 114 | 5B |
| SPRC006 | 357785 | 6528790 | 345 | 90 | -55 | 84 | 5B |
| SPRC007 | 356435 | 6528340 | 400 | 90 | -60 | 132 | Core Farm |
| SPRC008 | 356430 | 6528360 | 400 | 90 | -60 | 132 | Core Farm |
| SPRC009 | 356420 | 6528380 | 400 | 90 | -60 | 132 | Core Farm |
| SPRC010 | 356620 | 6526830 | 400 | 90 | -60 | 100 | Trapdoor |
| SPRC011 | 356600 | 6526870 | 400 | 90 | -60 | 120 | Trapdoor |
| SPRC012 | 356470 | 6526850 | 400 | 90 | -60 | 120 | Trapdoor |
| SPRC013 | 356500 | 6526870 | 400 | 90 | -60 | 120 | Trapdoor |
| SPRC014 | 356500 | 6526890 | 400 | 90 | -60 | 120 | Trapdoor |
| SPRC015 | 356510 | 6526910 | 400 | 90 | -60 | 100 | Trapdoor |
| SPRC016 | 356700 | 6527200 | 400 | 90 | -60 | 100 | Huntsman |
| SPRC017 | 355670 | 6527300 | 400 | 90 | -60 | 72 | West Wattle Dam |
| SPRC018 | 355650 | 6527300 | 400 | 90 | -60 | 90 | West Wattle Dam |
| SPRC019 | 354270 | 6523300 | 400 | 90 | -60 | 156 | Larkinville West |
| SPRC020 | 354060 | 6523000 | 400 | 90 | -60 | 100 | Larkinville West |
| SPRC021 | 357590 | 6520940 | 400 | 270 | -60 | 250 | Eagles Nest |
| SPRC022 | 357370 | 6518370 | 400 | 45 | -60 | 96 | Ground Lark |
| SPRC023 | 357410 | 6518360 | 400 | 45 | -60 | 96 | Ground Lark |
| SPRC024 | 354700 | 6536345 | 400 | 270 | -60 | 144 | Hilditch Gold |
| SPRC025 | 354645 | 6536460 | 400 | 270 | -60 | 132 | Hilditch Gold |
| SPRC026 | 354665 | 6536460 | 400 | 270 | -60 | 156 | Hilditch Gold |
| SPRC027 | 352960 | 6535360 | 400 | 270 | -60 | 120 | Fugitive |
| SPRC028 | 352960 | 6535380 | 400 | 270 | -60 | 126 | Fugitive |
Table 4: Drill Hole Collar Details – Follow Up RC Drilling August 2014
| Hole ID | Easting (GDA) |
Northing (GDA) |
RL (m) |
Azimuth | Dip | Total Depth (m) |
Prospect |
|---|---|---|---|---|---|---|---|
| SPRC029 | 356530 | 6527300 | 400 | 90 | -60 | 100 | Redback |
| SPRC030 | 356470 | 6527300 | 400 | 90 | -60 | 120 | Redback |
| SPRC031 | 356550 | 6527270 | 400 | 90 | -60 | 108 | Redback |
| SPRC032 | 356530 | 6527270 | 400 | 90 | -60 | 126 | Redback |
| SPRC033 | 356510 | 6527270 | 400 | 90 | -60 | 174 | Redback |
| SPRC034 | 356570 | 6527250 | 400 | 90 | -60 | 96 | Redback |
| SPRC035 | 356550 | 6527250 | 400 | 90 | -60 | 108 | Redback |
| SPRC036 | 356530 | 6527250 | 400 | 90 | -60 | 138 | Redback |
| SPRC037 | 356510 | 6527250 | 400 | 90 | -60 | 180 | Redback |
| SPRC038 | 356590 | 6527230 | 400 | 90 | -60 | 48 | Redback |
| SPRC039 | 356570 | 6527230 | 400 | 90 | -60 | 84 | Redback |
| SPRC040 | 356550 | 6527230 | 400 | 90 | -60 | 120 | Redback |
| SPRC041 | 356530 | 6527230 | 400 | 90 | -60 | 150 | Redback |
| SPRC042 | 356590 | 6527200 | 400 | 90 | -60 | 72 | Redback |
| SPRC043 | 356570 | 6527200 | 400 | 90 | -60 | 108 | Redback |
| SPRC044 | 356580 | 6527150 | 400 | 90 | -60 | 132 | Redback |
| SPRC045 | 356575 | 6527070 | 400 | 90 | -60 | 240 | Redback |
| SPRC046 | 356690 | 6527030 | 400 | 90 | -60 | 108 | Huntsman |
| SPRC047 | 356670 | 6527030 | 400 | 90 | -60 | 132 | Huntsman |
| SPRC048 | 356680 | 6526950 | 400 | 90 | -60 | 120 | Huntsman |
| SPRC049 | 356700 | 6526900 | 400 | 90 | -60 | 120 | Huntsman |
| SPRC050 | 356610 | 6526900 | 400 | 90 | -60 | 102 | Trapdoor |
| SPRC051 | 356590 | 6526900 | 400 | 90 | -60 | 144 | Trapdoor |
| SPRC052 | 356560 | 6526870 | 400 | 90 | -60 | 180 | Trapdoor |
| SPRC053 | 356580 | 6526830 | 400 | 90 | -60 | 162 | Trapdoor |
| SPRC054 | 356610 | 6526780 | 400 | 90 | -60 | 144 | Trapdoor |
| SPRC055 | 354700 | 6536325 | 400 | 270 | -60 | 162 | Hilditch Gold |
| SPRC056 | 354700 | 6536365 | 400 | 270 | -60 | 160 | Hilditch Gold |
| SPRC057 | 354720 | 6536345 | 400 | 270 | -60 | 180 | Hilditch Gold |
| SPRC058 | 354680 | 6536345 | 400 | 270 | -60 | 138 | Hilditch Gold |
| SPRC059 | 354625 | 6536460 | 400 | 270 | -60 | 108 | Hilditch Gold |
JORC TABLES – RC DRILLING MAY 2014
JORC TABLE 1
Section 1: Sampling Techniques & Data
| Section 1: Sampling Techniques & Data | |
|---|---|
| Criteria | JORC Code explanation Commentary |
| Sampling techniques |
Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling. Composite scoop samples over 4 consecutive metres were collected from RC drill holes which were drilled to evaluate mineralised trends identified from previous drilling at depth down dip and plunge. The RC drilling was completed on a 20m line spacing. A total of 28 RC drill holes for 3,380 metres were completed over 10 prospects. Composite intervals which returned gold results ≥0.5ppm gold were riffle split at one metre intervals for further analysis. |
| Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. A consistent scoop sampling method has been adopted for composite drill sampling. One metre split samples were collected using a three tier riffle splitter. All sampling protocols remained constant throughout the program. All drill hole locations were determined by handheld GPS. |
|
| Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge 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 (e.g. submarine nodules) may warrant disclosure of detailed information. RC drilling was used to obtain one metre drill samples from which approximately a 2-3 kg composite sample (scoop sampled as per above) was pulverized (>90% smaller than 75 micron) to produce a pulp sample for analysis. Analysis of the four metre composite samples comprised a 25g aqua regia digest, solvent extraction then Flame Atomic Absorption Spectrometry for Au determination to a lower detection limit of 0.01ppm Au. ICP-OES analysis was completed on the aqua regia solution to determine a suite of 30 elements. Composite intervals which returned gold results ≥0.5ppm gold were resampled at one metre intervals using a three tier riffle splitter. One metre samples from 5B were submitted for 50g Fire assay/ Mass Spectrometry for Au, Pd, and Pt analysis to lower detection limits of 1ppb. All remaining one metre samples were submitted for Fire Assay/Mass Spectrometry for Au analysis to a lower detection limit of 0.01ppm. |
|
| Drilling techniques |
Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc.). All drilling was completed via RC Drilling. All holes were completed in order to intersect the interpreted mineralised horizons. |
| Drill sample recovery |
Method of recording and assessing core and chip sample recoveries and results assessed. No recording of recoveries was undertaken. |
| Measures taken to maximise sample recovery and ensure representative nature of the samples. Drill cyclone and sample hoses are cleaned when required during each drill hole and after each hole to minimise down hole and/or cross contamination. |
|
| 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. No relationship has been identified to date. |
|
| 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. The use of scoop sampled RC drilling results is not appropriate for mineral resource estimate and is considered a qualitative sampling technique. However the one metre split results returned would be appropriate for mineral resource estimate calculations. |
| Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography. Logging of drill chips recorded lithology, weathering, veining, mineralisation, and other features of the drill samples. A chip sample reference of each drilled metre was collected for each hole. |
|
| The total length and percentage of the relevant intersections logged. All drill holes were logged in full from start to end of hole. |
|
| Sub- sampling techniques and sample preparation |
If core, whether cut or sawn and whether quarter, half or all core taken. No core. |
| If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry. The drilling comprised dry samples which were scoop sampled over 4 consecutive metres. Composite intervals which returned gold results ≥0.5ppm gold were riffle split at one metre intervals for further analysis. |
| For all sample types, the nature, quality and appropriateness of the sample preparation technique. The sample preparation of the chip samples follows industry best practice in sample preparation involving oven drying, crushing and pulverising of the total sample (total prep) so that a minimum of 90% of pulverized material is less than 75µm grind size. |
|
|---|---|
| Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. The laboratories conducted up to one repeat analysis on all samples returning >0.1ppm Au and conducted routine 1 in 20 check analysis and regular blank and mineralized standard analyses throughout. |
|
| 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. No duplicate sampling was completed. All samples were collected to weigh less than 3kg to ensure the entire sample is pulverized prior to subsampling for digesting. |
|
| Whether sample sizes are appropriate to the grain size of the material being sampled. Given the qualitative nature of the composite sampling technique, the sample sizes are considered appropriate to give an indication of degree and extent of anomalism. The sample size of the one metre riffle split samples collected are appropriate for the material beingsampled. |
|
| 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. The aqua regia digest is considered a near total digest for gold and is considered appropriate considering the nature of sample collected. Fire Assay/Mass Spectrometry is a total digest for Au, Pd and Pt. |
| 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. None used |
|
| Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established. The laboratories conducted selected repeat analysis on all samples returning >0.5 ppm Au and conducted random 1 in 25 check analysis and regular blank and mineralized standard analyses throughout. From these results it has been determined that an acceptable level of accuracy and precision has been achieved. |
|
| Verification of sampling and assaying |
The verification of significant intersections by either independent or alternative company personnel. None undertaken. |
| The use of twinned holes. None undertaken. |
|
| Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Field and laboratory data have been collected electronically. The electronic data has been validated visually and automatically using Micromine software. |
|
| Discuss any adjustment to assay data. None undertaken. |
|
| 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. The location of drill hole collars was determined by handheld GPS prior to drilling which is expected to have an accuracy of +/- 5m. The level of accuracy of the collar location details is considered appropriate for the nature of drilling completed. |
| Specification of thegrid system used. The coordinate system in use was GDA1994 MGA Zone 51. |
|
| Quality and adequacy of topographic control. A nominal RL of 340m has been used for the drilling. |
|
| Data spacing and distribution |
Data spacing for reporting of Exploration Results. The majority of drilling ensured drill coverage of 20m line spacing between current and/or previous drilling. |
| 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 estimationprocedure(s) and classifications applied. At this stage no mineral resource or reserve estimates have been undertaken which are JORC 2012 compliant. Result quality and drilling spacing from 5B would be suitable for inclusion within an updatedgold resource estimate. |
|
| Whether sample compositing has been applied. Initial four metre composites were collected from the drill samples in the field. Composite intervals which returned gold results ≥0.5ppmgold was resampled at one metre intervals. |
|
| 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,consideringthe deposit type. The completed drilling was undertaken roughly perpendicular to the strike direction of the geology and related mineralisation. |
| 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. No orientation based sampling bias has been identified in the data |
|
| Sample security |
The measures taken to ensure sample security. All composite samples were stored securely within Kambalda after sampling and transported to Minanalyitical Laboratory Services, in Perth on a weekly basis for analysis. All single metre split samples were collected and delivered to Genalysis LaboratoryServices in Kalgoorlie on the same day. |
| Audits or reviews |
The results of any audits or reviews of sampling techniques and data. No audits or reviews have been undertaken. |
JORC TABLE 2
Section 2: Reporting of Exploration Results
| Criteria | JORC Code explanation | Commentary | Commentary | Commentary | Commentary |
|---|---|---|---|---|---|
| Mineral tenement and land tenure status |
The drilling was completed over 8 tenements of the Spargoville project. A summary of Tychean’s interests within the tenements is included below. |
||||
| Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. |
Tenement | Gold Interest |
Nickel Interest |
||
| E15/967 | 100% | 0% | |||
| M15/1101 | 100% | 80% | |||
| M15/1290 | 100% | 100% | |||
| M15/1448 | 90% | 90% | |||
| M15/1449 | 75% | 80% | |||
| M15/1475 | 100% | 100% | |||
| M15/395 | 100% | 0% | |||
| M15/97 | 100% | 0% | |||
| 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. |
There are no existing impediments to the tenement. | ||||
| Exploration done by other parties |
Acknowledgment and appraisal of exploration by other parties. |
Previous exploration within the tenements comprises surface geochemistry, drilling, airborne and ground geophysics which was conducted by various previous explorers, including ACM Gold, Spinifex Gold, WMC, Resolute, Breakaway and more recentlyRamelius Resources. |
|||
| Geology | Deposit type, geological setting and style of mineralisation. | The geology of the tenements is dominated by Archaean mafic/ultramafic and sedimentary lithologies and minor felsic intrusives. Hydrothermal vein and shear related gold mineralisation is being targeted by exploration within the tenement. |
|||
| Drill hole Information |
A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: easting and northing of the drill hole collar elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar dip and azimuth of the hole down hole length and interception depth hole length. |
Drill hole locations are included as a full list of hole collar details as Table 3. |
|||
| 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. |
No information has been excluded | ||||
| Data aggregation methods |
In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated. |
When reporting exploration results, an average of the Au and Au1 results are averaged and all intercepts >0.5ppm Au are reported. When consecutive down hole samples returned >0.5ppm, the average gold values for each relevant interval is used to obtain an intercept average. |
|||
| 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. |
Where aggregate results are biased by one or more higher grade single composite results, these composite results are detailed. |
||||
| The assumptions used for any reporting of metal equivalent values should be clearly stated. |
No metal equivalents reported. |
| Relationship between mineralisation widths and intercept lengths |
These relationships are particularly important in the reporting of Exploration Results. Not enough information is known about the nature and orientation of the mineralisation within the area at this stage. If the mineralisation is vertical then the down hole width of the intercepted mineralisation would be twice that of the true width, as was the case at Wattle Dam Gold Mine. |
|---|---|
| If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. The orientation of the mineralisation is unknown. Further drilling including air core, RC and diamond drilling will be required to determine the orientation of mineralisation. |
|
| If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’). The reported intercepts are down hole lengths only as the true width of is not known. |
|
| 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 2-5 and Tables 1-2. |
| 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. Comprehensive reporting of exploration results has been undertaken. |
| 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. No other exploration data is available. |
| Further work | The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling). Results are required from the recently completed RC drilling prior to any further work being generated. Any further follow up work to the recently completed RC drill programme is likely to comprise RC and/or diamond 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. Results are required from the recently completed RC drilling prior to any further work being generated. |