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DREADNOUGHT RESOURCES LTD — Regulatory Filings 2015
Jan 19, 2015
64785_rns_2015-01-19_d5cafe3f-db42-44f9-97e6-a1b6e64ba4b4.pdf
Regulatory Filings
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Australian Securities Exchange Announcement
20 January 2015
ASX Market Announcements Australian Securities Exchange 20 Bridge Street SYDNEY NSW 2000
More Redback Prospect High Grade Gold Results
Highlights
-
9m at 4.78g/t Au from 170m incl 4m at 9.05g/t Au
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20m at 4.05g/t Au from 195m incl 2m at 12.1g/t Au
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13m at 3.16g/t Au from 188m incl 2m at 6.52g/t Au
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9m at 4.97g/t Au from 42m incl 1m at 15.3g/t Au and 1m at 13.4g/t Au
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Follow Up RC/Diamond Drilling planned for February 2015
Tychean Resources Ltd (ASX: TYK) ( Tychean or Company ) is pleased to announce receipt of high grade results from Reverse Circulation (RC) drilling completed during December 2014. The RC drilling was completed at the Redback Prospect, within the Company’s wholly owned Spargoville Gold Project in the Eastern Goldfields of Western Australia, (Figure 1).
The RC drilling, which totalled 23 holes for 3,526 metres (Figure 2) was designed to infill and extend high grade mineralisation to a 10/20m x 20m drill spacing.
Significant high grade results were returned from the Eastern, Central and Western Zones, as well as a potential new mineralised zone located within the Footwall felsic unit. More significant results include
Western Zone
-
9 metres at 4.78g/t Au from 170 metres including 4 metres at 9.05g/t Au from 172 metres
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13 metres at 3.16g/t Au from 188 metres including 2 metres at 6.52g/t Au from 193 metres
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20 metres at 4.05g/t Au from 195 metres including 2 metres at 12.1g/t Au from 197 metres
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7 metres at 3.30 g/t Au from 129 metres including 2 metres at 7.22g/t Au from 132 metres
Central Zone
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7 metres at 3.74g/t Au from 65 metres including 2 metres at 9.76g/t Au from 69 metres
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9 metres at 4.97g/t Au from 42 metres including 1 metre at 15.3g/t Au from 42 metres
Eastern Zone
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5 metres at 8.96g/t Au from 186 metres including 1 metre at 15.7g/t Au from 186 metres
-
3 metres at 7.42g/t Au from 151 metres including 1 metre at 10.3g/t Au from 153 metres
Footwall Zone
- 1 metre at 10.2g/t Au from 179 metres to EOH
All significant (≥1.0g/t Au and ≥4 gram metre) results returned from the RC drilling are included as Table 1 and collar details included as Table 2.
The results from the completed extensional drilling at the Redback Prospect, has identified further potential for extensions of high grade mineralisation at depth and down plunge to the north associated with the Eastern and Western Zones which remain open.
A maximum result of 9 metres at 4.78g/t Au from 170 metres including 4 metre at 9.05g/t Au from 172 metres (SPRC088) has been returned in the north, associated with the Western Zone at depth. Significant (≥1.0g/t Au and ≥4 gram metre) Western Zone mineralisation has been defined in the north over 100 metres of strike and 100 metres of dip extent and is interpreted to plunge to the north at approximately -60 degrees. The significant Western Zone mineralisation remains open at depth and along strike and down plunge to the north and requires further drill testing by RC/Diamond drilling.
Completed RC drilling in the south following up previous Eastern Zone high grade mineralisation, intercepted a maximum result of 3 metres at 7.42g/t Au from 151 metres including 1 metre at 10.3g/t Au from 153 metres . Further infill and extensional RC/Diamond drilling is required to further test the Eastern Zone mineralisation in the south for localised Wattle Dam style, nuggety, very high grade mineralisation.
Also within the drilling in the south, an intercept of 1 metre at 10.2g/t Au from 179 metres to EOH (SPRC094) was intersected within the footwall felsic unit. This is the first significant mineralised intercept returned within the footwall felsic unit. This intercept will be further evaluated in conjunction with the planned drilling to evaluate the above Eastern Zone mineralisation.
Future Drilling
From the completed drilling to date at the Redback Prospect, the potential to define further significant gold mineralisation is located
-
at depth and along strike/down plunge along the Western Zone in the north,
-
at depth and/or with existing drilling along the Eastern Zone in the south and/or
-
within the Footwall Felsic Unit in the south.
A ~2,600 metre, 15 RC/Diamond drill hole programme is planned to commence during February 2015 to infill and extend the high grade mineralisation within the Western, Eastern and Footwall mineralised zones.
Table 1: Significant (≥1.0g/t Au and ≥4 gram metre) Intercepts – RC Drilling November 2014
| Hole ID | From (m) |
To (m) |
Length (m) |
Au (ppm) |
Zone |
|---|---|---|---|---|---|
| SPRC088 incl |
136 | 140 | 4* | 1.08 | Other |
| 170 | 179 | 9 | 4.78 | Western | |
| 172 | 176 | 4 | 9.05 | Western | |
| 190 | 194 | 4 | 2.84 | Central | |
| SPRC089 incl incl |
188 | 198 | 13 | 3.16 | Western |
| 193 | 195 | 2 | 6.52 | Western | |
| 206 | 210 | 4 | 4.17 | Central | |
| 207 | 208 | 1 | 9.34 | Central | |
| SPRC090 incl |
128 | 132 | 4* | 2.15 | Other |
| 195 | 215 | 20 | 4.05 | Western | |
| 197 | 199 | 2 | 12.1 | Western | |
| SPRC091 incl |
162 | 166 | 4 | 2.89 | Western |
| 176 | 179 | 3 | 1.72 | Eastern | |
| 196 | 200 | 6 | 4.15 | Eastern | |
| 199 | 200 | 1 | 8.20 | Eastern | |
| SPRC092 incl |
56 | 60 | 4* | 2.5 | Western |
| 65 | 72 | 7 | 3.74 | Central | |
| 69 | 71 | 2 | 9.76 | Central | |
| SPRC093 incl incl |
155 | 158 | 3 | 4.97 | Central |
| 156 | 157 | 1 | 9.33 | Central | |
| 164 | 169 | 5 | 1.79 | Eastern | |
| 167 | 168 | 1 | 5.33 | Eastern | |
| SPRC094 incl |
129 | 136 | 7 | 3.3 | Western |
| 132 | 134 | 2 | 7.22 | Western | |
| 146 | 149 | 3 | 1.88 | Central |
| Hole ID | From (m) |
To (m) |
Length (m) |
Au (ppm) |
Zone |
|---|---|---|---|---|---|
| incl | 169 | 172 | 3 | 4.21 | Eastern |
| 169 | 170 | 1 | 8.03 | Eastern | |
| 179 | 180 | 1 | 10.2 | Footwall - EOH |
|
| SPRC098 | 112 | 115 | 3 | 1.38 | Eastern |
| SPRC099 incl |
96 | 100 | 4* | 3.48 | Other |
| 157 | 162 | 5 | 3.2 | Central | |
| 166 | 169 | 3 | 2.6 | Central | |
| 168 | 169 | 1 | 5.74 | Central | |
| 197 | 201 | 4 | 2.02 | Eastern | |
| SPRC101 incl incl and |
56 | 60 | 4* | 1.32 | Other |
| 122 | 126 | 4 | 4.97 | Western | |
| 123 | 125 | 2 | 6.36 | Western | |
| 186 | 191 | 5 | 8.96 | Eastern | |
| 186 | 187 | 1 | 15.7 | Eastern | |
| 190 | 191 | 1 | 20.2 | Eastern | |
| SPRC102 incl and |
24 | 28 | 4* | 9.18 | Western |
| 42 | 51 | 9 | 4.97 | Central | |
| 42 | 43 | 1 | 15.3 | Central | |
| 48 | 49 | 1 | 13.4 | Central | |
| SPRC104 incl |
89 | 90 | 1 | 4.47 | Western |
| 111 | 120 | 9 | 2.11 | Central | |
| 119 | 120 | 1 | 5.15 | Central | |
| SPRC105 incl incl |
145 | 153 | 8 | 2.37 | Western |
| 151 | 152 | 1 | 7.26 | Western | |
| 169 | 172 | 3 | 1.68 | Central | |
| 205 | 207 | 2 | 4.86 | Eastern | |
| 205 | 206 | 1 | 6.27 | Eastern | |
| SPRC107 | 40 | 44 | 4* | 2.33 | Supergene |
| SPRC108 incl incl incl |
105 | 108 | 3 | 2.88 | Western |
| 111 | 113 | 2 | 4.2 | Western | |
| 123 | 126 | 3 | 3.16 | Central | |
| 124 | 125 | 1 | 5.04 | Central | |
| 138 | 145 | 7 | 2.52 | Eastern | |
| 138 | 139 | 1 | 6.57 | Eastern | |
| 151 | 154 | 3 | 7.42 | Eastern | |
| 153 | 154 | 1 | 10.3 | Eastern | |
| SPRC109 | 76 | 80 | 4* | 2.12 | Western |
| 84 | 92 | 8 | 2.39 | Central | |
| SPRC110 | 153 | 154 | 1 | 4.57 | Eastern |
- Composite Interval Significant Result
Table 2: Drill Hole Collar Details – Redback RC Drilling December 2014
| Hole ID | Easting (GDA) |
Northing (GDA) |
RL (m) | Azimuth | Dip | Total Depth (m) |
|---|---|---|---|---|---|---|
| SPRC088 | 356471.98 | 6527288.03 | 336.62 | 90 | -60 | 228 |
| SPRC089 | 356460.15 | 6527309.34 | 336.48 | 90 | -60 | 246 |
| SPRC090 | 356449.42 | 6527330.35 | 336.39 | 90 | -60 | 252 |
| SPRC091 | 356469.09 | 6527329.93 | 336.31 | 90 | -60 | 216 |
| SPRC092 | 356581.18 | 6527168.15 | 336.83 | 90 | -60 | 102 |
| SPRC093 | 356539.26 | 6527167.51 | 336.98 | 90 | -60 | 180 |
| SPRC094 | 356530.43 | 6527199.18 | 336.75 | 90 | -60 | 180 |
| SPRC095 | 356550.54 | 6527328.43 | 335.50 | 90 | -60 | 72 |
| SPRC096 | 356547.37 | 6527349.54 | 335.51 | 90 | -60 | 60 |
| SPRC097 | 356529.93 | 6527349.72 | 335.63 | 90 | -60 | 108 |
| SPRC098 | 356509.58 | 6527349.07 | 335.90 | 90 | -60 | 120 |
| SPRC099 | 356491.22 | 6527309.95 | 336.33 | 90 | -60 | 210 |
| SPRC100 | 356521.14 | 6527288.45 | 336.15 | 90 | -60 | 126 |
| SPRC101 | 356501.29 | 6527288.45 | 336.48 | 90 | -60 | 198 |
| SPRC102 | 356561.12 | 6527266.76 | 335.75 | 90 | -60 | 78 |
| SPRC103 | 356541.74 | 6527264.68 | 336.11 | 90 | -60 | 114 |
| SPRC104 | 356517.33 | 6527264.52 | 336.40 | 90 | -60 | 150 |
| SPRC105 | 356496.31 | 6527267.56 | 336.67 | 90 | -60 | 220 |
| SPRC106 | 356559.88 | 6527248.77 | 335.95 | 90 | -60 | 96 |
| SPRC107 | 356539.81 | 6527248.04 | 336.15 | 90 | -60 | 120 |
| SPRC108 | 356535.30 | 6527212.22 | 336.52 | 90 | -60 | 168 |
| SPRC109 | 356563.27 | 6527182.91 | 336.57 | 90 | -60 | 120 |
| SPRC110 | 356544.04 | 6527184.51 | 336.71 | 90 | -60 | 162 |
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.
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
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Figure 1 – Spargoville Gold Project – Prospect Location Plan
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Figure 2 – Spargoville Gold Project – Redback Summary Drilling Plan
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Figure 3 – Spargoville Gold Project – Redback Longitudinal Projection January 2015
Table 3: Drill Hole Collar Details – Redback/Trapdoor RC Drilling October 2014
| Hole ID | Easting (GDA) |
Northing (GDA) |
RL (m) | Azimuth | Dip | Total Depth (m) |
| SPRC088 | 356471.976 | 6527288.031 | 336.624 | 90 | -60 | 228 |
| SPRC089 | 356460.148 | 6527309.337 | 336.481 | 90 | -60 | 246 |
| SPRC090 | 356449.417 | 6527330.352 | 336.39 | 90 | -60 | 252 |
| SPRC091 | 356469.085 | 6527329.928 | 336.307 | 90 | -60 | 216 |
| SPRC092 | 356581.181 | 6527168.146 | 336.831 | 90 | -60 | 102 |
| SPRC093 | 356539.263 | 6527167.511 | 336.979 | 90 | -60 | 180 |
| SPRC094 | 356530.425 | 6527199.181 | 336.748 | 90 | -60 | 180 |
| SPRC095 | 356550.542 | 6527328.431 | 335.499 | 90 | -60 | 72 |
| SPRC096 | 356547.372 | 6527349.542 | 335.514 | 90 | -60 | 60 |
| SPRC097 | 356529.926 | 6527349.717 | 335.626 | 90 | -60 | 108 |
| SPRC098 | 356509.58 | 6527349.071 | 335.897 | 90 | -60 | 120 |
| SPRC099 | 356491.221 | 6527309.952 | 336.331 | 90 | -60 | 210 |
| SPRC100 | 356521.14 | 6527288.45 | 336.151 | 90 | -60 | 126 |
| SPRC101 | 356501.291 | 6527288.45 | 336.482 | 90 | -60 | 198 |
| SPRC102 | 356561.118 | 6527266.758 | 335.751 | 90 | -60 | 78 |
| SPRC103 | 356541.74 | 6527264.68 | 336.11 | 90 | -60 | 114 |
| SPRC104 | 356517.334 | 6527264.521 | 336.402 | 90 | -60 | 150 |
| SPRC105 | 356496.308 | 6527267.559 | 336.67 | 90 | -60 | 220 |
| SPRC106 | 356559.88 | 6527248.773 | 335.952 | 90 | -60 | 96 |
| SPRC107 | 356539.81 | 6527248.039 | 336.153 | 90 | -60 | 120 |
| SPRC108 | 356535.298 | 6527212.217 | 336.523 | 90 | -60 | 168 |
| SPRC109 | 356563.273 | 6527182.905 | 336.571 | 90 | -60 | 120 |
| SPRC110 | 356544.038 | 6527184.51 | 336.714 | 90 | -60 | 162 |
REDBACK RC DRILLING – December 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 and single metre splits were collected from RC drill holes which were drilled to evaluate mineralised trends identified from previous drilling. The RC drilling was completed 15/20m line spacing. All composite samples were restricted portions of the drilling to the west of the prospective ultramafic sequence. Single metre split samples were collected throughout the prospective ultramafic sequence and associated contacts. A total of 23 RC drill holes for 3,526 metres were completed at the Redback Prospect. |
| 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 drill hole locations were determined by DGPS. |
|
| 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. All single metre split samples were 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 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 a mineral resource estimate and is considered a qualitative sampling technique. Single metre split RC drilling 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 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 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. |
|
| 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 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. |
|
| 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 is considered industry standard and suitable for the grain 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 random, (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 andprecision 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. All hole collars have been located via DGPS, post drilling. |
| 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 to 30m 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 split samples can be used. It is envisaged that a drill spacing of 20m 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,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 onsite after sampling and transported to Quantum Analytical Services, in Perth on a weeklybasis for analysis. |
| 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 more recently 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 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 2. |
|||
| 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 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. |
From the preliminary 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 |
See Figures 1 -3 |
| being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views. |
|
|---|---|
| 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). An RC/Diamond drill programme comprising 15 holes for approximately 2,600 metres is currently in progress to further extend and infill high grade .mineralisation at Redback. |
| Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive. Proposed intersection area of the proposed drill program are depicted on the included long section, Figure 3. |