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DREADNOUGHT RESOURCES LTD — Regulatory Filings 2015
Apr 21, 2015
64785_rns_2015-04-21_0fd08786-7a4a-49e2-ad5d-e48d86806ad9.pdf
Regulatory Filings
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Australian Securities Exchange Announcement
22 April 2015
ASX Market Announcements Australian Securities Exchange 20 Bridge Street SYDNEY NSW 2000
Redback Prospect High Grade Gold Drill Results
Highlights
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8m at 9.29g/t Au from 208m incl 2m @ 10.7g/t Au and 2m @ 20.1g/t Au
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2m at 12.2g/t Au from 177m incl 1m @ 23.1g/t Au
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3m at 7.8g/t Au from 149m incl 1m @ 17.1g/t Au
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3m at 7.15g/t Au from 146m incl 1m @ 13.4 g/t Au
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16m at 3.31g/t Au from 184m incl 3m @ 10.2g/t Au
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7m at 5.59g/t Au from 204m incl 1m @ 13.9g/t Au
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9m at 6.66g/t Au from 163m incl 5m @ 10.3g/t Au
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4m at 6.3g/t Au from 176m incl 2m @ 10.5g/t Au
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Further drilling planned to extend and further define high grade Eastern Zone “Wattle Dam Style” Mineralisation.
Tychean Resources Ltd (ASX: TYK) ( Tychean or Company ) is pleased to announce receipt of results from Reverse Circulation (RC) and Diamond drilling completed during March 2015, (Figure 1). The drilling was completed at the Redback Prospect, within the Company’s wholly owned Spargoville Gold Project in the Eastern Goldfields of Western Australia, (Figure 2).
High grade mineralisation continues to be intersected within all three mineralised zones at the Redback Prospect. All significant (≥1.0g/t Au and ≥4 gram metre) intervals from the drilling are tabulated below, (Table 1).
Table 1: Significant (≥1.0g/t Au and ≥4 gram metre) Intercepts – March 2014 Drilling
| Hole ID | From (m) |
To (m) | Length (m) |
Au (ppm) |
Zone | Sample Type |
|---|---|---|---|---|---|---|
| SPDT001 including |
149 | 152 | 3 | 7.8 | Eastern | Core |
| 150 | 151 | 1 | 17.1 | Eastern | Core | |
| SPDT002 including |
167 | 171 | 4 | 2.77 | Central | Core |
| 177 | 179 | 2 | 12.2 | Eastern | Core | |
| 177 | 178 | 1 | 23.1 | Eastern | Core | |
| SPDT003 including |
139 | 143 | 4 | 5.9 | Western | Core |
| 140 | 141 | 1 | 9.76 | Western | Core | |
| 152 | 154 | 2 | 2.82 | Central | Core | |
| SPDT004 including and including |
208 | 216 | 8 | 9.29 | Eastern | Core |
| 208 | 210 | 2 | 10.7 | Eastern | Core | |
| 214 | 216 | 2 | 20.1 | Eastern | Core | |
| 223 | 227 | 4 | 4.23 | Eastern | Core | |
| 225 | 226 | 1 | 9.05 | Eastern | Core | |
| SPDT005 | 259 | 265 | 6 | 1.95 | Eastern | Core |
| SPDT007 | 274 | 292 | 18 | 1.68 | Eastern | Core |
| SPDT006 | 148 | 152 | *4 | 5.25 | Not Defined | RC Chips |
| SPDT008 including |
128 | 132 | *4 | 1.4 | Not Defined | RC Chips |
| 160 | 164 | *4 | 2.05 | Not Defined | RC Chips | |
| 214 | 220 | 6 | 2.29 | Western | Core | |
| 218 | 219 | 1 | 5.69 | Western | Core | |
| 228 | 236 | 8 | 1.42 | Central | Core | |
| 252 | 259 | 7 | 2.1 | Eastern | Core | |
| SPDT010 including including |
176 | 178 | 2 | 2.1 | Eastern | Core |
| 184 | 200 | 16 | 3.31 | Central | Core | |
| 191 | 194 | 3 | 10.2 | Central | Core | |
| 204 | 211 | 7 | 5.59 | Western | Core | |
| 207 | 208 | 1 | 13.9 | Western | Core | |
| SPDT011 including |
48 | 52 | *4 | 2.47 | Not Defined | RC Chips |
| 144 | 146 | 2 | 4.34 | Eastern | Core | |
| 154 | 155 | 1 | 4.62 | Central | Core | |
| 163 | 172 | 9 | 6.66 | Western | Core | |
| 166 | 171 | 5 | 10.3 | Western | Core | |
| SPDT012 including |
0 | 4 | *4 | 1.74 | Laterite | RC Chips |
| 163 | 168 | 5 | 1.36 | Central | Core | |
| 176 | 180 | 4 | 6.3 | Western | Core | |
| 177 | 179 | 2 | 10.5 | Western | Core | |
| SPDT013 | 108 | 112 | *4 | 1.66 | Not Defined | RC Chips |
| Hole ID | From (m) |
To (m) | Length (m) |
Au (ppm) |
Zone | Sample Type |
|---|---|---|---|---|---|---|
| including | 180 | 188 | 8 | 2.71 | Western | Core |
| 224 | 233 | 9 | 2.85 | Eastern | Core | |
| 224 | 225 | 1 | 5.76 | Eastern | Core | |
| SPDT014 including |
253 | 262 | 9 | 2.26 | Central | Core |
| 261 | 262 | 1 | 7.96 | Central | Core | |
| SPRC111 including |
123 | 130 | 7 | 1.77 | Western | RC Chips |
| 146 | 149 | 3 | 7.15 | Eastern | RC Chips | |
| 147 | 148 | 1 | 13.4 | Eastern | RC Chips |
- Composite intervals included in interval calculation
Eastern Zone
High grade, Eastern Zone mineralisation within the completed drilling intersected at the Redback Prospect, includes 8 metres at 9.29g/t Au from 208 metres including 2 metres at 10.7g/t Au from 208 metres and 2 metres at 20.1g/t Au from 214 metres (SPDT004), 2 metres at 12.2g/t Au from 177 metres including 1 metre at 23.1g/t Au from 177 metres (SPDT002), 3 metres at 7.8g/t Au from 149 metres including 1 metre at 17.1 g/t Au from 150 metres (SPDT001) and 3 metres at 7.15g/t Au from 146 metres including 1 metre at 13.4g/t from 147 metres (SPRC111).
The Redback Prospect, Eastern Zone mineralisation in the south (Figure 4), is interpreted to display geological, structural and grade characteristics comparable to that of the high grade Eastern Zone mined at the Wattle Dam Gold Mine, located 700 metres to the northwest, (Figure 3). To date, high grade, Eastern Zone mineralisation in the south, has been defined over a strike length of 60 metres and maximum dip extent of 60 metres within the Eastern Zone and remains open at depth and along an interpreted northerly plunge to the north.
The current drill spacing testing the Eastern zone in the south has been completed to a 10m x 20m drill spacing (~20m x 20m intersection separation) and the extensional drilling at 20m x 20m (~40m x 20m intersection separation). In comparison a drill spacing of 10m x 10m was required in order to intersect the outstanding intersections within exploration drilling within the Wattle Dam Eastern Zone mineralisation including (but not limited to) 16 metres at 482g/t Au from 123 metres including 1 metre at 6,770g/t Au from 129 metres *. The drill spacing at Wattle Dam was required due to the high grade mineralisation’s limited strike length (minimum 40 metres) and nuggetty and variable nature, as identified at the Redback Prospect.
A long section of the Wattle Dam Gold Mine Eastern Zone mineralisation (Figure 4) highlights the restricted and high grade nature of the deposit. Wattle Dam surface exploration drilling only has been used to generate the long section, so that comparisons can be made with the mineralised zones at the Redback Prospect currently defined by exploration drilling.
Central and Western Zones
Results from the completed drilling, further defined the Western and Central zones of mineralisation at the Redback Prospect (Figures 7 and 8). Significant intersections returned from the zones include maximum results of 9 metres at 6.66g/t Au from 163 metres including 5 metres at 10.3g/t Au from 166 metres (SPDT011 – Western Zone) and 16 metres at 3.31g/t Au from 184 metres including 3 metres at 10.2 g/t Au from 191 metres. (Figures 7 and 8). It is interpreted that the completed drilling to date of the Western and Central zones, has defined the extent of previously intersected high grade mineralisation.
The Western and Central zones remain open to the north and down plunge to the north.
Future Drilling
The next program of drilling at the Redback Prospect will be designed to test for depth and plunge extensions to the high grade, Eastern Zone Mineralisation in the south.
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
Table 2: Drill Hole Collar Details – Redback RC/Diamond Drilling March 2014
| Hole Number |
Easting (GDA Zone 51) |
Northing (GDA Zone 51) |
RL (m) | Azimuth | Dip | RC (m) |
Diamond (m) |
Total Depth (m) |
|---|---|---|---|---|---|---|---|---|
| SPDT001 | 6527198.38 | 356540.49 | 336.60 | 90 | -60 | 90 | 72.8 | 162.8 |
| SPDT002 | 6527200.03 | 356510.52 | 336.90 | 90 | -60 | 150 | 48.7 | 198.7 |
| SPDT003 | 6527216.25 | 356513.30 | 336.73 | 90 | -60 | 132 | 51.8 | 183.8 |
| SPDT004 | 6527227.01 | 356490.55 | 337.14 | 90 | -60 | 150 | 84.8 | 234.8 |
| SPDT005 | 6527287.39 | 356446.84 | 336.72 | 90 | -60 | 198 | 75.8 | 273.8 |
| SPDT006 | 6527310.33 | 356429.47 | 336.56 | 90 | -60 | 228 | 228 | |
| SPDT007 | 6527331.01 | 356427.19 | 336.41 | 90 | -60 | 228 | 67.3 | 295.3 |
| SPDT008 | 6527348.14 | 356448.95 | 336.16 | 90 | -60 | 180 | 84.6 | 264.6 |
| SPDT009 | 6527350.74 | 356429.08 | 336.27 | 90 | -61 | 228 | 72.8 | 300.8 |
| SPDT010 | 6527319.27 | 356642.92 | 334.57 | 270 | -60 | 162 | 60.3 | 222.3 |
| SPDT011 | 6527289.22 | 356647.02 | 332.87 | 270 | -57 | 138 | 54.7 | 192.7 |
| SPDT012 | 6527318.78 | 356641.92 | 334.54 | 270 | -57 | 156 | 38.7 | 194.7 |
| SPDT013 | 6527346.43 | 356464.50 | 336.21 | 90 | -60 | 162 | 74.9 | 236.9 |
| SPDT014 | 6527370.17 | 356398.76 | 336.44 | 90 | -55 | 240 | 48.9 | 288.9 |
| SPRC111 | 6527166.14 | 356552.68 | 336.79 | 90 | -60 | 168 | 168 | |
| SPRC112 | 6527197.95 | 356559.23 | 336.45 | 90 | -60 | 132 | 132 |
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Figure 1 – Spargoville Gold Project – Prospect Location Plan
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Figure 2 – Spargoville Gold Project – Redback Prospect Drilling Summary Plan
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Figure 3 – Spargoville Gold Project – Redback Prospect - Wattle Dam Gold Mine Area Drilling
Summary
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Figure 4 – Visible gold logged within SPDT002 at 177.01m downhole. Scale in centimetres.
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Figure 5 – Spargoville Gold Project – Redback Prospect Eastern Zone Longitudinal Projection
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Figure 6 – Redback Prospect and Wattle Dam Gold Mine Eastern Zones Comparison
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Figure 7 – Spargoville Gold Project – Redback Prospect Western Zone Longitudinal Projection
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Figure 8 – Spargoville Gold Project – Redback Prospect Central Zone Longitudinal Projection
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.
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This announcement contains previously announced TYK exploration results. 28/03/2014 - High grade gold in new results from Spargoville in WA 02/05/2014 - Spargoville (WA) – Aircore Gold Resample Results 22/09/2014 - High Grade Single Metre Gold Results from Spargoville WA 05/12/2014 - Redback Prospect High Grade Gold Results 20/01/2015 - More Redback Prospect High Grade Gold Results 05/03/2015 - Visible Gold in First Diamond Drilling at Redback Prospect 23/03/2015 - Further Visible Gold at Redback Prospect
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This announcement contains previously announced exploration results reported by Ramelius
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Resources Limited from completed drilling at the Wattle Dam Gold Mine.
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24/08/2007 - Super High Grade Zone (“SHGZ”) at Wattle Dam
The Company is not aware of any new information or data, which hasn’t been previously reported, that materially affects the information included in the current market announcement.
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 and single metre splits were collected from RC precollars and portions of RC drill holes outside of the mineralised horizons. All RC and diamond drilling was completed to evaluate Western and Eastern Zone mineralised trends identified from previous drilling. The drilling was completed at 10/20m line spacing. Single metre RC split and half core NQ2 samples were collected throughout the prospective ultramafic sequence and associated contacts. All RC drilling (4.75 inch diameter) from the current drill programme has been completed with a total of 2 RC drill holes (SPRC111 -112) and 14 RC precollars (SPDT001 – 014) completed for a total of 2,742 metres. Thirteen NQ2 diamond tails have been completed 836.1 metres (SPDT001-005 and SPDT007-014), (Figure 2). |
| 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. All composite scoop sampling protocols remained constant throughout the program. All single metre split samples were collected via a rig mounted cone splitter. All diamond core was half core sampled over one metre intervals. All drill hole locations were determined by DGPS. All drill holes are planned to be open hole gyro surveyed |
|
| 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 will 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. All single metre split RC and core samples will be analysed using a cyanide leach technique using a 200g charge and determination via Mass Spectrometry |
|
| 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 and RC precollars with diamond tails. 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. Recovering information was recorded within RC drilling per metre, in the form of an estimate of the returned amount of drill sample compared to that normally returned during normal drilling operations. Any core loss from the diamond drilling is recorded. |
| 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 during RC drilling. |
|
| 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 a mineral resource estimate and is considered a qualitative sampling technique. Single metre split RC and half core diamond drill sample results are appropriate for inclusion within a mineral resource. All logging has been completed to the level of detail required to support mineral resource estimation. |
| Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography. Logging of RC 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. Logging of drill core recorded lithology, weathering, veining, mineralisation, structure, gold occurrences and other features of the drill samples |
|
| 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. All diamond drilling was half core sampled. |
|---|---|
| If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry. The RC drilling comprised wet and dry samples which were scoop sampled over 4 consecutive metres. Single metre split samples were collected via a cone splitter within the prospective ultramafic sequence and associated contacts. Half core drill core samples will be submitted from the diamond drilling |
|
| 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 85% 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 repeat analysis on a representative amount of samples returning >0.5ppm Au and conducted random, (1 in 25 equivalent), check analysis and regular blank and mineralized standard analyses throughout. Company standards were also completed at a frequency of approximately 1 in 25. |
|
| 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 has been 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 size of the split sample collected from RC and Half core samples from diamond drilling is considered industry standard and suitable for thegrain size of the material collected. |
|
| 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. The cyanide leach technique is a total digest in respect to all available leachable gold. No refractory gold will be captured by the cyanide leach technique. |
| 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 samples returning >0.5 ppm Au and conducted, (1 in 25 equivalent), 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 all drill hole collars have been located via DGPS. |
| Specification of thegrid system used. The coordinate system in use was GDA1994 MGA Zone 51. |
|
| Quality and adequacy of topographic control. Topographic control determine from DGPS surveying. |
|
| 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 estimation procedure(s) and classifications applied. At this stage no mineral resource or reserve estimates have been undertaken which are JORC 2012 compliant. Composite results are not able to be used in resource estimations however the single metre RC split samples and drill core results can be used. It is envisaged that a drill spacing of 10m x 20m would be sufficient for an indicated resource estimate. |
|
| Whether sample compositing has been applied. Four metre composites were collected from the drill samples in the field from the portion of the drilling to the west of the prospective ultramafic sequence and associated contacts. |
| 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. The completed drilling was undertaken roughly perpendicular to the strike direction of the geology and related mineralisation, however not perpendicular to the interpreted dip. |
|---|---|
| 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 samples were stored securely onsite after sampling and transported to Quantum Analytical Services, in Perth on a regular basis. |
| 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 |
Type, reference name/number, location and ownership including agreements or material issues with third parties |
The drilling was completed over a single tenement of the Spargoville project, M15/1101. A summary of Tychean’s interests within the tenement is included below. |
|||
| such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. |
Tenement | Gold Interest |
Nickel Interest |
||
| M15/1101 | 100% | 80% | |||
| 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 and Ramelius 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. |
RC and diamond drill hole locations are depicted on the included Figure 2 within the body of text and a full list of hole collar details are included as Table 1. |
|||
| 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 consecutive down hole samples returned >1.0ppm, 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 results, these 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. From the drilling completed to date, the mineralisation is interpreted to be sub-vertical, which would result in the down hole intercept being approximately twice the true width of the mineralisation. |
|---|---|
| If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. Interpretations to date, have resulted in the identification of steeplydipping,south-southeast strikingmineralised zones. |
|
| 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 precise true width is not known. Further drill information is required to increase confidence in the current interpretation, prior to reportingtrue widths. |
|
| 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 1 -8 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 all available 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). It is envisaged that further RC precollars and diamond tails will be required based on the high grade results from the recent drilling. This program is expected to test for potential strike, dip and plunge extensions to the Eastern Zone mineralisation. |
| Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive. Target areas of future drilling at the Redback Prospect are addressed in the text of the announcement. |