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EV RESOURCES LTD Regulatory Filings 2008
64887_rns_2008-02-19_dc46bc2f-163d-450c-88ed-dc77424c944d.pdf
Regulatory Filings
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TOLI-TOLI MOLYBDENUM PROJECT - HISTORY
- 1973 Reconnaissance in Block 3 Sulawesi by RioTinto (CRA) under SKIP in search for porphyry copper – 18 Anomalies discovered
- 1976-77 Follow-Up Work on 18 Anomalies under SIPP
- 1977 3rd Generation Contract of Work Signed on 13 June 1977
- 1977-1978 Detailed Exploration, Drilling on Anomaly B
- Geological Resource of 55Mt @ 0.24% MoS2
- Expenditure to end 1979 US\$ 4.45 million
- Santos JV signed in 1980
- 1981 Detailed Drilling on Anomaly B, detailed surface sampling of Anomalies A and S.
- Geological Resource of 106 MT @ 0.14% MoS2 calculated in 1982
- Santos Expenditure 1980 1982 US\$ 2 million
- COW Relinquished in 1983 after failure to secure retention permit
- Area held under 6th generation COW for Gold since 1997. No further work carried out on molybdenum prospects since 1982.
- Nov.2007- Jan 2008: 6 KP's issued to PT Promistis/RCH JV for molybdenum – 3 year exploration tenure
| Hole No. | Az. | Decin. | RL(m) | TD(m) | Intercept (m) |
Width (m) |
$MoS2$ % |
|---|---|---|---|---|---|---|---|
| RioTinto (1977/1978) |
|||||||
| M 1 | $157$ 0 | $-70°$ | 744 | 200 | $9 - 200$ | 191 | 0.10 |
| M 2 | ODD o | $-90^\circ$ | 1,276 | 200 | $12 - 45$ | 33 | 0.17 |
| M3 | $010^\circ$ | $-70^\circ$ | 1,312 | 21 | Hole Abandoned |
||
| M4 | ODD 3 | $-90^\circ$ | 1,308 | 200 | $60 - 108$ | 48 | 0.11 |
| M 5 | $140^\circ$ | $-70^\circ$ | 847 | 260 | $63 - 69$ | 6 | 0.13 |
| M6 | ODD o | $-90^\circ$ | 985 | 108 | $9 - 30$ | 21 | 0.16 |
| M7 | ODO o | $-90^\circ$ | 883 | 222 | $21 - 30$ 66 - 96 |
9 30 |
0.18 0.12 |
| M8 | 300 o | $-60^\circ$ | 723 | 209 | $94 - 115$ | 21 | 0.10 |
| $145 - 205$ | 60 | 0.10 | |||||
| M9 | $003^\circ$ | $-60^\circ$ | 1.274 | 200 | $12 - 24$ | 12 | 0.12 |
| M10 | $303^\circ$ | $-40^\circ$ | 685 | 220 | Barren | ||
| M11 | $004^{\circ}$ | $-45^{\circ}$ | 681 | 134 | $39 - 126$ | 87 | 0.29 |
| M12 | 064° | $-55^\circ$ | 681 | 317 | $45 - 279$ | 234 | 0.28 |
| M13 | 105 | $-60^\circ$ | 681 | 163 | $72 - 96$ | 24 | 0.17 |
|---|---|---|---|---|---|---|---|
| $114 - 144$ | 30 | 0.24 | |||||
| M14 | 135 1 | $-70°$ | 669 | 328 | $81 - 90$ | 9 | 0.16 |
| $102 - 141$ | 39 | 0.19 | |||||
| $183 - 270$ | 87 | 0.17 | |||||
| M15 | 215 1 | $-60^\circ$ | 690 | 150 | Barren | ||
| M16 | 105 | $-60^\circ$ | 665 | 214 | $3 - 12$ | 9 | 0.13 |
| $69 - 81$ | 12 | 0.10 | |||||
| $120 - 156$ | 36 | 0.12 | |||||
| M17 | 345 1 | $-60^\circ$ | 665 | 100 | $12 - 63$ | 51 | 0.06 |
| M18 | 000 1 | $-90^\circ$ | 788 | 149 | Barren | ||
| M19 | 335 1 | $-70^\circ$ | 933 | 245 | $99 - 186$ | 87 | 0.22 |
| Incl.111 - 129 | 18 | 0.68 | |||||
| M20 | 000 1 | $-90^\circ$ | 738 | 92 | $15 - 39$ | 24 | 0.21 |
| M21 | 085 T | $-60^\circ$ | 904 | 200 | $93 - 102$ | 9 | 1.43 |
• Nov.2007- Jan 2008: 6 KP's issued to PT Promistis/RCH JV for molybdenum – 3 year exploration tenure
| Hole No. | Az. | Decin. | RL(m) | TD(m) | Intercept (m) |
Width (m) |
$MoS2$ % |
|---|---|---|---|---|---|---|---|
| Santos (1981) |
|||||||
| M22 | $215^{\circ}$ | $-70°$ | 1.120 | 350 | $0 - 54$ | 54 | 0.10 |
| $150 - 171$ | 21 | 0.21 | |||||
| 291 - 348 | 67 | 0.10 | |||||
| M23 | $215^{\circ}$ | $-60^\circ$ | 964 | 250 | $198 - 207$ | 9 | 0.34 |
| M24 | $265^\circ$ | $-60^\circ$ | 1,032 | 196 | $84 - 171$ | 87 | 0.38 |
| Incl. 153 - 165 | 12 | 1.68 | |||||
| M25 | $035^{\circ}$ | $-70°$ | 922 | 270 | Barren | ||
| M26 | $215^\circ$ | $-60^\circ$ | 834 | 134 | $60 - 102$ | 42 | 0.21 |
| M27 | 266° | $-55^\circ$ | 1,002 | 280 | Barren | ||
| M28 | $345^\circ$ | $-50^\circ$ | 808 | 141 | Hole Abandoned |
||
| M29 | $215^\circ$ | $-60^\circ$ | 883 | 333 | $0 - 192$ | 192 | 0.10 |
| Incl.168 - 192 | 24 | 0.22 | |||||
| M30 | $215^{\circ}$ | $-45^{\circ}$ | 661 | 363 | $0 - 363$ | 363 | 0.10 |
| Incl.168 - 192 | 102 | 0.13 | |||||
| And 243 - 354 | 111 | 0.13 | |||||
| M31 | $035^\circ$ | $-45^{\circ}$ | 863 | 250 | $45 - 48$ | 3 | 0.18 |
| M32 | 215 1 | $-50^\circ$ | 976 | 356 | $108 - 114$ | 6 | 0.20 |
|---|---|---|---|---|---|---|---|
| $318 - 330$ | 12 | 0.22 | |||||
| $348 - 354$ | 6 | 0.16 | |||||
| M33 | 215" | $-45^\circ$ | 929 | 220 | $69 - 93$ | 24 | 0.74 |
| $120 - 129$ | 9 | 0.10 | |||||
| M34 | $225$ 1 | $-45^{\circ}$ | 825 | 250 | $12 - 24$ | 12 | 0.10 |
| M35 | 205 1 | $-50^\circ$ | 898 | 285 | $54 - 129$ | 75 | 0.11 |
| Incl. 117 - 129 | 12 | 0.28 | |||||
| 243 - 258 | 15 | 0.14 | |||||
| M36 | 245" | $-45^{\circ}$ | 688 | 363 | $30 - 279$ | 249 | 0.10 |
| Incl. 123 - 267 | 144 | 0.14 | |||||
| HISTORICAL RESOURCE ESTIMATES | |||
|---|---|---|---|
| RioTinto (Internal, 15 December 1981) | |||
| Method: Interpolation of mineralised blocks using vertical cross-sections | |||
| Block | Drillholes | Tonnage | Grade |
| 1 | M12, M13, M14, M30 | 24.50 Mt | 0.15% MoS2 |
| 2 | M8, M11,M36 | 18.37 Mt | 0.15% MoS2 |
| 3,4 | M1, M7,M29,M35 | 21.10 Mt | 0.09% MoS2 |
| 5 | M35, M26 | 7.50 Mt | 0.14% MoS2 |
| 6,7 | M24, M26,M33 | 9.55 Mt | 0.32% MoS2 |
| 8 | M19, M22 | 26.15 Mt | 0.10% MoS2 |
| Total: | 107 Mt | 0.14% MoS2 | |
| _______________ | |||
| Santos Ltd (Colin Brooks, 9-14 December 1981) | |||
|---|---|---|---|
| Method: Level | Possible | Notional | Most Suitable |
| (metres asl) | Mineable | Tonnage | Mining Method |
| 400-500 | 6.56 Mt x 0.22% MoS2 | 1.00Mt x 0.12% MoS2 | Open Cut |
| 500-600 | 5.28 Mt x 0.20% MoS2 | 1.66Mt x 0.12% MoS2 | Open Cut |
| 600-700 | 4.57 Mt x 0.34% MoS2 | 1.22Mt x 0.12% MoS2 | Open Cut |
| 700-800 | - | 4.75Mt x 0.12% MoS2 | Open Cut |
| 800-900 | 831,250t x 1.19% MoS2 | 4.75Mt x 0.12% MoS2 Underground | |
| 900-1000 | 725,000t x 0.16% MoS2 | 1.37Mt x 0.15% MoS2 | |
| Summary: | "Mineable" in an Open Pit: | ||
| 17.97 Mt x 0.29% MoS2 in a "Possible" Category | |||
| + 14.75 Mt x 0.12% MoS2 in a "Notional" Category | |||
| Total "Possible" + "Notional" Mineable = 33Mt x 0.20% MoS2 | |||
| Total "Mineable" in an Underground Scenario: | |||
| 831,250 tonnes x 1.19% MoS2 |
| STRUCTURAL CONTROL MODEL In properly assessing the resources indicated by drilling to date, the following drill-holes should be ignored: (a) vertical holes (DDH's 2, 4, 6, 7, 18, 20) (b) holes with azimuths parallel or sub-parallel to 330-3400 (DDH's M-1, 5, 8, 9, 10, 14, 17, 19) (c) other holes with dips of 700or more (DDH's M-22, bottom half of M-29) (d) holes that failed to reach target (DDH's M-25, 27, 28, 32) (e) holes drilled outside main zone of interest (DDH's M-21, 23, 31) The following holes are more reliable indicators of widths and grade of mineralisation: M-11: tested 40 metres true width with indicated average grade of 0.29% MoS2 , M-12: tested 150 metres true width with indicated average grade of 0.28% MoS2 , |
|---|
| M-13: tested 60 metres true width with indicated average grade of 0.24% MoS2 , M-16: tested 100 metres true width with indicated average grade of 0.12% MoS2 , |
| M-24: tested 20 metres true width on western margin of main zone of interest. Intersected high grade veins. |
| M-26: tested 40 metres true width on eastern margin of 120 metre wide zone of interest with indicated average grade of 0.10% MoS2 , M-30: tested 100 metres true width on eastern margin of 250 metre wide zone of |
| interest with indicated average grade of 0.11% MoS2 , M-33: tested 130 metres true width on western margin of main zone of interest. Intersected high grade veins. |
| M-35: tested 80 metres true width of eastern margin 120 metre wide zone with indicated average grade of 0.07% MoS2 , M-36: tested 140 metres true width of 250 metre wide zone of interest with |
| indicated average grade of 0.14% MoS2 , before intersecting a major fault. |
STRUCTURAL CONTROL MODEL (2)
It is to be noted that to obtain a representative indication of average grade across such structurally controlled zones of mineralisation that dip 70 degrees to the west, holes should have been drilled from a SW azimuth towards a NE azimuth with relatively shallow declinations.
Drill holes 11, 12, 13 (average grades 0.24% - 0.29% MoS2 ,) were the only holes drilled with such azimuths and dips.
On the 1:2500 Molybdenum Geochemistry Plan five areas, totaling 670,000 sq. metres,have been marked.
These areas have either not been tested or have been inadequately tested by drilling.
In particular a 300,000 sq. m area centered on DDH's M-2 and M-4 remains untested according to this model.
In combination with the above structural control model, it is obvious that Anomaly B is still really untested and the probability of proving up plus one hundred million tonnes of plus 0.10% MoS2, is still very high.
There have been four ways by which assay results from previous drilling at Anomaly B have been seriously downgraded.
-
- Core samples were analyzed by Atomic Absorption Spectrometry (AAS) in RioTinto's Jakarta laboratory rather than rather than by XRF methods which show an overall 12% increase over the AAS values.
-
- Washing of core whilst drilling with face and side discharge bits. Rising on drill holes for bulk samples to check drill hole assays invariably produces higher grades than those reported.
-
- Loss of molybdenite through the washing action whilst core is being split using a diamond saw.
-
- The use of a disc pulveriser in sample preparation. A Siebe technique swing mill which uses a crushing action has been recommended as being the most suitable reducing machine for sample preparation.
If the following percentages of molybdenum loss are assumed: viz., downhole loss of 15% + diamond saw loss of 5% + disc pulveriser loss of 5% + assay loss (AAS vs XRF) of 10%,
then it is not unreasonable to assume that molybdenum values have been underestimated by at least one third, and that reported grades of 0.15% MoS2, may actually represent true grades of 0.20% MoS2
TOLI-TOLI MOLYBDENUM PROJECT - HISTORY
- 1973 Reconnaissance in Block 3 Sulawesi by RioTinto (CRA) under SKIP in search for porphyry copper – 18 Anomalies discovered
- 1976-77 Follow-Up Work on 18 Anomalies under SIPP
- 1977 3rd Generation Contract of Work Signed on 13 June 1977
- 1977-1978 Detailed Exploration, Drilling on Anomaly B
- Geological Resource of 55Mt @ 0.24% MoS2
- Expenditure to end 1979 US\$ 4.45 million
- Santos JV signed in 1980
- 1981 Detailed Drilling on Anomaly B, detailed surface sampling of Anomalies A and S.
- Geological Resource of 106 MT @ 0.14% MoS2 calculated in 1982
- Santos Expenditure 1980 1982 US\$ 2 million
- COW Relinquished in 1983 after failure to secure retention permit
- Area held under 6th generation COW for Gold since 1997. No further work carried out on molybdenum prospects since 1982.
- Nov.2007- Jan 2008: 6 KP's issued to PT Promistis/RCH JV for molybdenum – 3 year exploration tenure
