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FOCUS MINERALS LTD Capital/Financing Update 2017

May 23, 2017

64932_rns_2017-05-23_72ffc60e-4727-480f-8a9b-288b56a159f8.pdf

Capital/Financing Update

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Coolgardie Activities Update

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ASX ANNOUNCEMENT

24 May 2017

Focus Minerals Ltd Coolgardie Operational Update

Overview of Recent Coolgardie Activities

Since the previous Coolgardie Exploration Update (ASX 25 January 2017), Focus Minerals Ltd (“Focus” or the “Company”) has continued infill drilling at Brilliant, as well as exploration drilling at Bonnie Vale and Lindsays North. Infill drilling at Brilliant continues to increase the mineralised footprint of the system and a resource update is expected once the current program is completed early next month and all assay data is received. Exploration drilling at Bonnie Vale and Lindsays North has also returned encouraging results and follow-up work is currently being planned. The location of each of these programs are presented in Figure 1.

In addition to drilling at Coolgardie, Focus has been continuing work on the Preliminary Feasibility Study for re-starting operations; it is due for completion in June 2017. As part of that study, Focus has been updating select Mineral Resource estimates from JORC 2004 to JORC 2012 standards. This release includes an updated Mineral JORC 2012 compliance Mineral Resource estimate for the Greenfields deposit based on historic drill data.

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Figure 1: Coolgardie Location Plan

Coolgardie Activities Report

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Brilliant Exploration Update

Since the previous ASX release on 7 April 2017, Focus has continued drilling at Brilliant with an additional 34 drill holes completed to date (26 RC holes for 5,252m and 8 RC/diamond holes for 3,629.0m) aimed at further increasing the Mineral Resource estimate. The current round of drilling has extended the mineralised footprint at Brilliant as well as increased the confidence of mineralisation continuity within both the underground and open pit resource areas (See Figure 2) . The recent drilling brings the total year to date drilling at Brilliant to 52 RC holes (for 11,202m) and 12 RC/DD holes (for 5,306.2m).

At the time of reporting, drilling at Brilliant is ongoing. The current campaign is due for completion in early June 2017 and a Mineral Resource update is expected to follow shortly thereafter. Full significant results from this drilling are listed in Table A, however highlights include:

  • TND17030 3.3m @ 5.04g/t Au from 487.2m

  • TND17034 1.4m @ 13.97g/t Au from 300.7m

  • TND17035 6m @ 3.55g/t Au from 216m

  • TND17038 5m @ 4.40g/t Au from 171m

  • TND17040 7m @ 7.60g/t Au from 161m o Incl. 1m @ 37.60g/t Au from 161m

  • TND17044 1m @ 10.15g/t Au from 356m

  • 4.85m @ 7.13g/t Au from 371m

  • TND17045 2m @ 12.15g/t Au from 91m

  • TND17046 1m @ 11.15g/t Au from 88m

Bonnie Vale Exploration Update

Exploration drilling at Bonnie Vale to date in 2017 has consisted of three RC holes for 813m and three RC/DD holes for 1,075.6m (Figure 3). The three RC holes and one of the RC/DD holes were designed to test for the southward and down-dip continuation of the Quarry Reef Lode approximately 90m to the southeast of the 2016 resource boundary. The remaining two diamond holes were designed to target the Westralia Reef to assess the potential for lode extensions. Drilling was generally encouraging and follow-up work is being planned. Full significant results are included in Table A, but highlights include:

  • BONC162 3m @ 24.25g/t Au from 180m (Quarry Reef)

  • BONCD077 0.75m @ 14.90g/t Au from 95.85m (Westralia)

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Coolgardie Activities Report

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Figure 2: Plan view of Brilliant Deposit with Recent Hole Locations

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Figure 3: Bonnie Vale Plan View and Selected Hole Traces

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Coolgardie Activities Report

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Lindsays North Exploration Update

Three RC holes (591m) have been completed since the start of 2017 north of the Lindsays Open Pit, testing for Bayleys-style lode mineralisation along the basalt-ultramafic contact that hosts the historic Bayleys mine. Flow-up drilling is planned. Full significant results are included in Table A, but highlights include:

  • LND17003 1m @ 14.95g/t Au from 187m and o 1m @ 5.84g/t Au from 194m

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Figure 4: Lindsays Plan View and Selected Hole Traces

Greenfields Deposit Mineral Resource Update

Focus has upgraded the compliance of its Greenfields deposit to JORC 2012 standards following a review and completion of the Table 1 reporting requirements for the currently reported (2004 compliant) block model.

The JORC 2012 Greenfields Mineral Resource is reported above a 1g/t cut-off for open pit resources above 265mRL and comprises:

  • Indicated Resource 1.328Mt at 1.7g/t gold for 72,500 contained ounces

  • Inferred Resource 0.066Mt at 2.0g/t gold for 4,500 contained ounces

  • Total Mineral Resource 1.394Mt at 1.7g/t gold for 77,000 contained ounces

The Mineral Resource is reported on a dry tonnage basis. See the attached JORC Table 1 for additional details. Discrepancies may occur due to rounding. Historic mining depletion has been taken into account.

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Coolgardie Activities Report

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The Greenfields Project forms part of Focus Minerals’ tenement portfolio in the highly prospective Coolgardie region of Western Australia. The deposit has previously been an open pit gold producer, mined in stages from 1986 to mid-2013 with production figures of approx. 51,000oz at an average grade of 1.8g/t. Figure 5 presents a plan view of the Greenfields deposit and Figure 6 presents a representative cross section.

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Figure 5: Greenfields Plan View and Selected Hole Traces

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Figure 6: Greenfields Cross Section

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Coolgardie Activities Report

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Previously, the JORC 2004 Greenfields resource has been reported as a total resource above a 1g/t grade cut-off with no RL cut-offs used. Following preliminary feasibility work, it has been determined the 265mRL is an appropriate RL, for open pit mining considerations, to be reported above. The previously reported JORC 2004 Greenfields resource is tabulated below:

  • Indicated Resource

  • Inferred Resource

  • Total (previous) Mineral Resource

  • 1.898Mt at 1.6g/t gold for 96,000 contained ounces

  • 0.705Mt at 1.4g/t gold for 32,000 contained ounces

  • 2.603Mt at 1.5g/t gold for 128,000 contained ounces

Coolgardie Forward Program

As stated, drilling is ongoing at Coolgardie. Additional RC and diamond drilling is currently in progress at Brilliant and the current programme is expected to be completed early June. A Mineral Resource Estimate update will be completed once all assay data for this program have been received. Further RC drilling at Bonnie Vale and Possum is planned as the next phase of drilling and other drill targets are currently being ranked for exploration during the second half of 2017. The preliminary feasibility study is in progress and is anticipated to be completed by the end of June 2017. Ongoing weather delays have hampered the planned Lake Cowan gravity survey, although this survey is still anticipated to be completed this year.

Competent Persons Statement

The information that relates to exploration and geological interpretations is based on information compiled by Dr. Wesley Groome who is a Member of the Australian Institute of Geoscientists (AIG). Dr. Groome is employed by Focus Minerals Limited and has sufficient experience that 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 “Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.”

The Mineral Resource estimates were undertaken by, Mr Mark Rigby a former employee of Focus Minerals while he was employed by the compamy. Ms Hannah Kosovich, an employee of Focus Minerals reviewed the geological interpretation, assay QAQC information, estimation methedology and parameters and estimate validation. Ms Kosovich is a Member of the Australian Institute of Geoscientists (AIG) and has sufficient experience to qualify as a Competent Person as defined by the 2012 Edition of the “Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.”

Dr Wesley Groome and Ms Hannah Kosovich consent to the inclusion in the report of the matters based on the information in the form and context in which it appears.

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Table A: Significant drill results received to date (>1.0g/t Au cut-off over 1m (or equivalent) with up to 1m internal dilution >0.90g/t Au )

Project HoleID From To Width Grade (Au g/t)
Brilliant TND17030* 487.2 490.5 3.3 5.04
And 497.54 499.31 1.77 2.90
TND17034*** 300.7 302.1 1.4 13.975
And 335.1 338 2.9 4.85
And 394 395 1 1.28
TND17035 1 2 1 1.42
And 84 85 1 7.34
And 87 88 1 1.22
And 144 145 1 1.24
And 163 164 1 3.16
And 214 215 1 1.53
And 216 222 6 3.55
TND17036 43 47 4 2.79
And 62 64 1 1.71
And 82 83 1 1.28
TND17037 181 182 1 1.20
And 258 259 1 7.50
And 276 278 2 1.81
And 282 283 1 2.86
TND17038 92 93 1 1.35
And 164 166 2 2.95
And 171 176 5 4.40
And 182 183 1 4.18
TND17039 43 44 1 1.64
TND17040 142 144 2 2.18
And 154 156 2 2.59
And 158 159 1 1.53
And 161 168 7 7.60
Incl. 161 162 1 37.60
TND17042 85 89 4 3.40
And 148 150 2 2.88
And 158 159 1 1.23
And 195 197 2 2.22
TND17043** 175 178 3 2.37
And 180 181 1 1.10
And 186 188 2 2.07
And 271.2 272.3 1.1 6.70
And 277.9 280 2.1 1.90
And 281 282 1 1.51
And 336.35 338.75 2.4 2.06
And 401.65 402.3 0.65 2.74
TND17044** 182.95 184 1.05 1.85
And 188 190 2 1.73
And 194 196 2 1.43
And 206.45 204 0.55 2.35
And 251.16 252 0.84 2.18
And 356 357 1 10.15
And 368.4 370 1.6 2.43
And 371 375.85 4.85 7.13
Incl. 371 372 1 13.50
And 413 414 1 1.79
TND17045 87 88 1 1.68

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And 91 93 2 12.15
TND17046 88 89 1 11.15
And 92 93 1 4.86
And 110 112 2 1.78
TND17047 NSR
TND17048 133 134 1 1.60
And 149 450 1 2.57
Bonnie
Vale
BONC160** 159.40 159.70 0.3 6.23
And 298.85 299.30 0.45 22.70
BONC162 180 183 3 24.25
Incl. 181 182 1 66.40
BONC163 144 145 1 1.13
BONC164 130 131 1 4.11
And 134 135 1 1.16
BONCD075** 89 90 1 1.24
BONCD077** 95.85 96.6 0.75 14.90
And 102 102.6 0.6 12.10
Lindsays LND17001 61 62 1 1.54
And 73 74 1 1.58
LND17002 NSR
LND17003 177 178 1 1.09
And 187 188 1 14.95
And 190 191 1 1.22
And 194 195 1 5.84

denotes hole extended since previous release; *Diamond hole with RC pre-collar;

***diamond hole from surface

JORC Code, 2012 Edition – Table 1

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria Commentary
Sampling
techniques

This report relates to results from Reverse Circulation (RC) drilling and diamond core
drilling. The information of sampling techniques below applies to the drill holes drilled
by Focus Minerals (FML) only.

RC percussion drill chips were collected through a cyclone and cone splitter.
Samples were collected on a 1m basis. Diamond core was sampled across identified
zones of mineralisation by site geologists, the sample widths varied between a
minimum of 0.2m and a maximum of 1m.

RC chips were passed through a cone splitter to achieve a sample weight of
approximately 3kg. The splitter was levelled at the beginning of each hole using a
bullseye level. The spoils were collected in green bags at 1m intervals.

At the assay laboratory all samples were oven dried, crushed to a nominal 10mm
using a jaw crusher (core samples only) and weighed. Samples in excess of 3kg in
weight were riffle split to achieve a maximum 3kg sample weight before being
pulverised to 90% passing 75μm.

The diamond core was marked up for sampling by the supervising geologist during
the core logging process, with sample intervals determined by the presence of
mineralisation and/or alteration. The core was cut in half using an Almonte automatic
core saw and the same half of the core was routinely sent to the laboratory for
analysis. Some of the diamond core has been ¼ core sampled, although this is only
in a minority of cases.

Historic RC holes have been sampled on 1m or as 2m composite. It is unsure how
the composite sampling for pre-Focus drilling would have been undertaken.

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  • Drilling  All FML drilling was completed using an RC face sampling hammer or NQ2/HQ3 size diamond core. Where achievable, all drill core was oriented by the drilling contractor

  • techniques using an Ezy-mark system. Most holes were surveyed upon completion of drilling initially using an electronic multi-shot (EMS) camera and since Sept 2013 a northseeking gyroscope; holes were surveyed open-hole prior to 2017. Since late 2016, all holes were surveyed using various gyroscopes (non-north-seeking paired with an azimuth aligner and north-seeking) by the drill contractors whilst drilling.

Drill sample

  • FML sample recovery was recorded by a visual estimate during the logging process.

  • All FML RC samples were drilled dry whenever possible to maximise recovery, with

  • recovery water injection on the outside return to minimise dust.

  • Historic drill recovery has been sporadically recorded.

  • Logging  The information of logging techniques below applies to the drill holes drilled by FML only.

  • All core samples were oriented where possible, marked into metre intervals and compared to the depth measurements on the core blocks. Any loss of core was noted and recorded in the drilling database.

  • All RC samples were geologically logged to record weathering, regolith, rock type, colour, alteration, mineralisation, structure and texture and any other notable features that are present.

  • All diamond core was logged for structure and geologically logged using the same system as that for RC.

  • The logging information was transferred into the company’s drilling database once the log was complete.

  • Logging was qualitative, however the geologists often recorded quantitative mineral percentage ranges for the sulphide minerals present.

  • Diamond core was photographed one core tray at a time using a standardised photography jig.

  • More recently, samples from RC holes were archived in standard 20m plastic chip trays.

  • The entire length of all holes are logged.

  • Historic RC holes have been logged at 1m intervals to record weathering, regolith, rock type, colour, alteration, mineralisation, structure and texture and any other notable features that are present.

  • Original drill logs have been viewed and used to validate data stored in acQuire for a majority of the pre-FML drilling.

  • Sub-sampling  The information of sub-sampling and sample preparation below applies to the drill holes drilled by FML only.

  • techniques and  Core samples were taken from half core, cut using an Almonte automatic core saw. The remainder of the core was retained in core trays tagged with a hole number and

  • sample metre mark.  RC samples were cone split to a nominal 2.5kg to 3kg sample weight. The drilling

  • preparation method was designed to maximise sample recovery and delivery of a clean, representative sample into the calico bag.

  • Where possible, all RC samples were drilled dry to maximise recovery. The use of a booster and auxiliary compressor provide dry sample for depths below the water table. Sample condition was recorded (wet, dry or damp) at the time of sampling and recorded in the database.

  • The samples were collected in a pre-numbered calico bag bearing a unique sample ID. Samples were crushed to 75μm at the laboratory and riffle split (if required) to a maximum 3kg sample weight. Gold analysis was initially by 40g aqua regia for the composite samples then 40g Fire Assay for individual samples with an ICP-OES or AAS Finish.

  • The assay laboratories’ sample preparation procedures follow industry best practice, with techniques and practices that are appropriate for this style of mineralisation. Pulp duplicates were taken at the pulverising stage and selective repeats conducted at the laboratories’ discretion.

  • Earlier FML QAQC checks involved inserting a standard or blank every 10 samples in RC and taking a field duplicate every 20 samples in RC. Field duplicates were collected from the cone splitter on the rig. Diamond core field duplicates were not taken, a minimum of one standard was inserted for every sample batch submitted. In

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more recent drilling no blanks were submitted, only standards every 25 samples with
a duplicate taken off the rig every 20thsample.
Regular reviews of the sampling were carried out by the supervising geologist and
senior field staff, to ensure all procedures were followed and best industry practice
carried out.
The sample sizes were considered to be appropriate for the type, style and
consistency of mineralisation encountered during this phase of exploration.
Quality of
assay data and
laboratory
tests
The assay method and laboratory procedures were appropriate for this style of
mineralisation. The fire assay technique was designed to measure total gold in the
sample.
No geophysical tools, spectrometers or handheld XRF instruments were used.
The QA/QC process described above was sufficient to establish acceptable levels of
accuracy and precision. All results from assay standards and duplicates were
scrutinised to ensure they fell within acceptable tolerances.
Very little in the way of quality control data is available from sampling of the historic
drilling that currently defines the Greenfields Resource. Drilling by FML aimed to
confirm the geometry of the ore envelope and grade tenor encountered in historic
drilling at Greenfields.
Verification of
sampling and
assaying
Significant intervals were visually inspected by company geologists to correlate assay
results to logged mineralisation. Consultants were not used for this process.
Normally, if old historic drilling was present, twinned holes are occasionally drilled to
test the veracity of historic assay data; however, no twinned holes were drilled during
this program.
Primary data is sent in digital format to the company’s Database Administrator (DBA)
as often as was practicable. The DBA imports the data into an acQuire database, with
assay results merged into the database upon receipt from the laboratory. Once
loaded, data was extracted for verification by the geologist in charge of the project.
Historic holes were validated against paper copies and WAMEX reports where
possible.
 No adjustments were made to any current or historic data. If data could not be
validated to a reasonable level of certainty it was not used in any resource
estimations.
Location of
data points
FML drill collars were surveyed after completion, using a DGPS instrument. All drill
core was oriented by the drilling contractor using an Ezy-mark system. Most holes
were surveyed upon completion of drilling. Initially an electronic multi-shot camera
was used until Sept 2013 when a north-seeking gyroscope tool was used. Holes were
surveyed open-hole prior to 2016. Since late 2016, most drillholes were surveyed
using various gyroscope systems (non-north-seeking gyroscopes paired with azimuth
aligners and north-seeking gyroscopes) by the drillers whilst drilling, otherwise
surveyed open hole using a north-seeking gyroscope. Since the start of 2017,
gyroscopes were used for “single shot” surveys whilst drilling, otherwise a single shot
Eastman camera downhole survey was used.
All coordinates and bearings use the MGA94 Zone 51 grid system.
FML utilises Landgate sourced regional topographic maps and contours as well as
internally produced survey pick-ups produced by the mining survey teams utilising
DGPS base station instruments.
Historic hole collar survey methods are unknown although Gold Mines Coolgardie JV
indicates collars were surveyed by company survey.
Data spacing
and
distribution
At Brilliant, drill spacing within the resource area is a combination of 20mx20m,
20mx40m and 40mx40m. Outside of the resource area, exploration holes are more
irregularly spaced.
At Bonnie Vale, drill spacing within the resource area is generally 40mx40m although
some exploration step-out holes are more irregularly distributed.
At Lindsays North, drill spacing is irregular.
At Greenfields, drilling has been conducted on 20m spaced grid lines on sections
oriented across strike of the ore zone at an azimuth of either 20oor 200oand at various
dips, with 10-20m collar intervals on section. Wider-spaced drilling exists at depth up
to as wide as 40x80m.

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  • Orientation of  Drilling was designed based on known geological models, field mapping, verified historical data and cross-sectional interpretation.

  • data in relation  Where achievable, drill holes were oriented at right angles to strike of deposit, with dip optimised for drill capabilities and the dip of the ore body. Where drill holes are

  • to geological at a low angle to the known mineralisation trend, true widths are re-calculated based on the geology interpretation.

  • structure Sample  All samples were reconciled against the sample submission with any omissions or variations reported to FML.

  • security  All samples were bagged in a tied numbered calico bag, grouped into green plastic bags. The bags were placed into cages with a sample submission sheet and delivered directly from site to the Kalgoorlie laboratories by FML personnel on a daily basis.

  •  Historic sample security is not recorded.

  • Audits or  A review of sampling techniques was carried out by rOREdata Pty Ltd in late 2013 as part of a database amalgamation project. Their only recommendation was to change

  • reviews the QA/QC intervals to bring them into line with the FML Laverton system, which uses the same frequency of standards and duplicates but has them inserted at different points within the numbering sequence.

  • At Greenfields, significant data validation was completed by consultants Hellmann and Schofield in 2005 as part of a resource estimate.

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section)

Criteria Commentary
Mineral
tenement and
land tenure
status
All exploration was conducted on tenements 100% owned by Focus Minerals Limited
or its subsidiary companies Focus Operations Pty Ltd. All tenements are in good
standing.
There are currently no registered Native Title claims over the Coolgardie project
areas.
Exploration
done by other
parties
Brilliant Project
Brilliant has been explored and mined by various parties over time. The first phase
of mining is believed to have taken place in the early twentieth century and would
have consisted of prospecting shafts and limited underground mining. Mines
Department records document treatment of 60 tonnes of ore producing 6.97oz of
gold up to 1935. No other production is recorded.
Open pit mining of the prospect commenced in the 1970’s with a number of parties
processing ore through the Coolgardie State Battery. In 1980 a treatment plant was
constructed at Brilliant by Tryaction Pty Ltd, who produced from an open pit. In the
mid 1980’s Electrum NL bought into the project, forming a joint venture with MC
Mining. They expanded the treatment plant and continued open pit mining in the
Brilliant area. Recorded production by Electrum/MC Mining is 87,986 tonnes at 3.2
g/t Au for 9,000 ounces with a stripping ratio of 12.7:1 (Kirkpatrick, 1995).
The project was subsequently purchased by Goldfan Limited (a wholly owned
subsidiary of Herald Resources Ltd) in 1991 and incorporated into the Tindals
Project. They initiated drilling programs which increased the known extent of
mineralisation and completed further open cut mining to its present limits in the early
2000’s. Table 2 in the FML Combined Annual Report of 2008 states an estimated
total production from Brilliant Pit of in excess of 1.1Mt @ 2.45g/t for 88,000 ounces.
Bonnie Vale Project

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  • Bonnie Vale is the site of a number of historic workings including the Varischetti Mine (Westralia). Modern exploration has been conducted by Coolgardie Gold NL, Gold Mines of Coolgardie and Focus.

Lindsays North Project

  • Lindsays North has several small historic diggings at surface of unknown age. Scout RC drilling has been completed at Lindsays North by Coolgardie Gold NL and Focus.

Greenfields Project

  • Greenfields is a site of numerous historic workings including small pits and shafts, however no production figures are available for these workings. Modern exploration by Coolgardie Gold NL include trenching and multiple drill campaigns including RAB, RC and Diamond drilling. Gold Mines of Coolgardie Pty Ltd (GMC), MPI Gold Pty Ltd and FML have also run drilling campaigns of RC and Diamond at Greenfields

Geology

Brilliant Project

  • The deposit lies on the western margin of the Archaean Norseman – Menzies Greenstone Belt. Host rocks at Brilliant are a sequence of Archaean Basalts and Ultramafics, which have been intruded by a suite of porphyry dykes (also described as granodiorites). The porphyries host the bulk of the mineralisation, occurring in two orientations, steeply dipping (70 - 80°) with an average width of 3 to 5m, or flatter dipping (20 - 40°) with widths of up to 2m. Mineralisation consists of a stock work of quartz / sulphide micro-veining and albitic alteration of the porphyry.

Bonnie Vale Project

  • Locally, the geology is dominated by the Bonnie Vale tonalite, with an ultramafic to the east and west of the tonalite in structural contact. This ultramafic has been logged as a cargonate-altered ultramafic and described as a komatiite in Halberg’s regional mapping. Mineralisation is hosted within large (strike length > 300m) quartz reefs which range in thickness from centimetre scale to several metres. The known reefs strike sub-parallel to the edge of the tonalite, with the main orientations being an easterly dip (e.g. Westralia) or northeast (Bonnie Vale, Quarry Reef) of 40 to 60 degrees.

Lindsays North Project

  • Lindsays North is located along the contact between a hangingwall ultramafic unit and a footwall basalt unit, which has been intruded by a suite of late felsic porphyry dykes. Mineralisation is hosted within or adjacent to the felsic porphyries. These felsic porphyries are persistent along strike within the contact zone for several kilometres to the east and south and host significant mineralisation at Bayleys approximately 1.5km along strike to the southeast.

Greenfields Project

  • The Greenfields deposit is located within the Greenfield Dolerite Sill within the Coolgardie Greenstone Belt. There are three rock types present in the pit: dolerite, felsic volcaniclastics (sediments) and ultramafics. The dolerite is sub-divided into four separate units known as the unit 3, 4, 5 and 6 in the pit area. These are separated on mineralisation, alteration, veining and grain size variations. These units all have a WNW strike and steep dip with the gold mineralisation best developed within the unit 4 dolerite, with minor occurrences located in units 3 and 5. Within the dolerite sill are shallow to moderately, NE-NW dipping quartz veins which often display higher grade gold mineralisation with visible gold identified in some drill core samples. Sulphides evident in logging include arsenopyrite and pyrrhotite. The dolerite sill and felsic volcaniclastics of the Kurrawang Formation are separated by the Greenfields Fault which runs through the pit at 280-290[o] azimuth.

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Drill hole
Information
Drillholes completed since the previous exploration update Drillholes completed since the previous exploration update Drillholes completed since the previous exploration update Drillholes completed since the previous exploration update Drillholes completed since the previous exploration update Drillholes completed since the previous exploration update Drillholes completed since the previous exploration update Drillholes completed since the previous exploration update
Brilliant Project
Hole ID Easting Northin
g
RL Depth Azi Dip Hole Type
TND17030* 326272 6572273 409.7 550.4 52 -55 RC/DD
TND17032 326708 6572559 433.1 54 240 -50 RC
TND17033 326096 6572538 409.6 300 67 -55 RC
TND17034 326493 6572820 406.4 450.6 246 -64 RC/DD
TND17035 326321 6572326 410.6 300 67 -55 RC
TND17036 326397 6572102 413.8 210 70 -55 RC
TND17037 326319 6572153 411.0 294 70 -55 RC
TND17038 326206 6572497 408.1 200 73 -54 RC
TND17039 326168 6573098 406.7 115 70 -88 RC
TND17040 326290 6573077 406.5 198 251 -60 RC
TND17041 326394 6573106 405.1 144 253 -54 RC
TND17042 326314 6573114 405.6 250 253 -55 RC
TND17043 326584 6572499 415.8 459.6 241 -65 RC/DD
TND17044 326598 6572601 417.6 555.7 251 -69 RC/DD
TND17045 326258 6573193 405.8 105 249 -55 RC
TND17046 326257 6573269 405.5 126 261 -65 RC
TND17047 326420 6573186 404.9 138 252 -60 RC
TND17048 326304 6573006 406.0 198 252 -60 RC
TND17049 326221 6573542 411.0 250 251 -60 RC
TND17050 326247 6573430 409.4 252 250 -60 RC
TND17051 326278 6573357 408.6 198 252 -59 RC
TND17052 326595 6573003 404.1 54 249 -55 RC/DD**
TND17053 326481 6573004 404.0 462.6 250 -59 RC/DD
TND17054 326451 6572913 404.7 372.9 245 -65 RC/DD
TND17055 326564 6572753 408.9 606.6 250 -70 DD
TND17056 326398 6572990 404.9 246 250 -64 RC
TND17057 326388 6573029 405.3 258.5 252 -60 RC/DD
TND17058 326586 6572162 422.2 228 252 -65 RC
TND17059 326586 6571992 421.8 282 274 -54 RC
TND17060 326382 6571934 414.0 198 95 -55 RC
TND17061 326422 6571929 415.0 102 90 -55 RC
TND17062 326373 6572002 414.0 300 90 -55 RC
TND17063 326307 6572116 411.0 300 70 -60 RC
TND17064 326352 6572116 412.0 210 70 -55 RC
Bonnie Vale Project
Hole ID Easting Northin
g
RL Depth Azi Dip Hole Type
BONC160 324444 6584306 384.0 420 220 -65 RC/DD***
BONC162 324545 6584029 383.0 300 220 -60 RC
BONC163 324511 6584152 383.0 281 221 -70 RC
BONC164 324525 6584089 383.0 216 219 -75 RC
BONCD075 323992 6584206 395.0 462.7 245 -60 RC/DD

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BONCD077 323830 6584499 389.0 328.3 270 -54 RCDD
Lindsays North Project
Hole ID Easting Northin
g
RL Depth Azi Dip Hole Type
LND17001 325694 6575668 418.0 120 221 -60 RC
LND17002 325531 6575837 416.85 159 221 -60 RC
LND17003 325466 6575854 418.0 198 208 -60 RC

87.9m added to this hole subsequent to previous release; RC pre-collar
completed, diamond tail in progress;
**RC Pre-collar drilled in 2016

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Historic Drillholes used for the Greenfields Resource Update Historic Drillholes used for the Greenfields Resource Update Historic Drillholes used for the Greenfields Resource Update Historic Drillholes used for the Greenfields Resource Update Historic Drillholes used for the Greenfields Resource Update Historic Drillholes used for the Greenfields Resource Update
Hole ID Easting Northing RL Depth Azimuth Dip Company
GFC001 327999.72 6576518.71 399.6 40 20 -60 CGNL
GFC002 327992.68 6576500.68 400.5 40 20 -60 CGNL
GFC003 327985.85 6576482.23 399.5 40 20 -60 CGNL
GFC004 328050.21 6576544.24 399.8 40 20 -60 CGNL
GFC005 328043.50 6576525.27 399.6 40 20 -60 CGNL
GFC006 328036.86 6576506.60 399.3 40 20 -60 CGNL
GFC007 328030.01 6576487.87 399.1 40 20 -60 CGNL
GFC008 328088.27 6576530.97 400.1 40 20 -60 CGNL
GFC009 328081.94 6576512.81 399.7 40 20 -60 CGNL
GFC010 328075.00 6576493.98 399.2 40 20 -60 CGNL
GFC011 328068.14 6576475.45 398.9 40 20 -60 CGNL
GFC013 328120.36 6576499.69 399.9 40 20 -60 CGNL
GFC014 328113.79 6576479.96 399.4 40 20 -60 CGNL
GFC015 328106.88 6576461.97 398.9 40 20 -60 CGNL
GFC017 328157.50 6576486.12 400.5 40 20 -60 CGNL
GFC018 328150.66 6576467.76 399.8 40 20 -60 CGNL
GFC019 328143.89 6576448.66 399.2 40 20 -60 CGNL
GFC021 328195.75 6576473.68 400.3 40 20 -60 CGNL
GFC023 328181.51 6576435.62 399.2 40 20 -60 CGNL
GFC025 328226.61 6576441.98 399.6 40 20 -60 CGNL
GFC026 328219.45 6576423.58 399 40 20 -60 CGNL
GFC027 328040.34 6576515.76 399.4 40 20 -60 CGNL
GFC028 328033.61 6576497.28 399.1 50 20 -60 CGNL
GFC030 328078.64 6576502.91 399.4 40 20 -60 CGNL
GFC031 328071.61 6576484.28 397.8 50 20 -60 CGNL
GFC033 328117.15 6576489.39 399.8 48 20 -60 CGNL
GFC034 328110.49 6576471.27 399.1 50 20 -60 CGNL
GFC036 328154.19 6576477.30 400.1 40 20 -60 CGNL
GFC037 328147.11 6576458.15 399.5 50 20 -60 CGNL
GFC039 328192.53 6576464.53 400 40 20 -60 CGNL
GFC040 328185.24 6576445.45 399.4 50 20 -60 CGNL
GFC042 328114.33 6576479.35 399.4 50 38.8 -60 CGNL
GFC043 328076.73 6576492.15 399.2 50 38.8 -60 CGNL
GFC044 328038.10 6576505.84 399.3 50 20 -60 CGNL
GFC047 328230.12 6576450.71 400 42 20 -60 CGNL
GFC048 328222.80 6576432.26 399.3 50 20 -60 CGNL
GFC050 328188.64 6576454.74 399.5 50 20 -60 CGNL
GFC051 328151.01 6576470.01 399.9 50 38.8 -60 CGNL
GFC052 328047.17 6576535.09 399.8 40 20 -60 CGNL
GFC054 328085.35 6576521.50 400 40 20 -60 CGNL
GFC061 328260.02 6576419.25 399.3 50 20 -60 CGNL
GFC062 328254.50 6576407.70 399.3 50 20 -60 CGNL
GFC063 328252.72 6576400.65 398.8 50 20 -60 CGNL
GFC065 328161.42 6576495.86 400.8 40 20 -60 CGNL
GFC077 328276.91 6576350.23 397.5 60 20 -60 CGNL
GFC079 328041.94 6576409.69 399.2 50 20 -60 CGNL

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GFC119 327987.47 6576426.52 400 131 20 -60.24 CGNL
GFC120 328000.09 6576461.67 397.9 150 24.99 -59.05 CGNL
GFC121 328027.61 6576424.31 400 149 0 -60 CGNL
GFC122 328036.57 6576448.48 397.2 144 20.25 -60.11 CGNL
GFC123 328065.43 6576410.46 398.9 149 22.04 -60.09 CGNL
GFC124 328073.87 6576433.42 396.1 149 19.29 -60 CGNL
GFC125 328099.41 6576393.21 398.4 150 17.3 -60.87 CGNL
GFC126 328110.15 6576415.17 391.8 149 21.68 -59.08 CGNL
GFC127 328137.22 6576373.55 397.8 149 21.95 -59.17 CGNL
GFC128 328148.40 6576405.41 391.3 138 24.49 -59.97 CGNL
GFC129 328175.14 6576359.59 397.6 150 21.24 -59.36 CGNL
GFC130 328184.17 6576385.37 391.1 143 20.91 -60.28 CGNL
GFC131 328003.02 6576411.07 400.3 91 0 -60 CGNL
GFC132 328039.81 6576398.46 400.5 152 19.62 -63.1 CGNL
GFC133 328078.41 6576388.19 399.1 149 21.18 -60.68 CGNL
GFC134 328223.49 6576314.02 397.1 153 17.78 -59.81 CGNL
GFC135 328152.12 6576357.42 397.7 149 22.37 -60.18 CGNL
GFC136 328186.88 6576333.97 397.4 152 20.53 -60.27 CGNL
GFC143 327982.43 6576470.09 398.2 143 0 -60 CGNL
GFC144 328265.94 6576312.28 396.9 130 20.01 -60.3 CGNL
GFC145 328208.73 6576335.37 397.2 149 19.26 -59.8 CGNL
GFC146 328257.05 6576353.86 391.2 70 20.56 -60.48 CGNL
GFC148 327981.76 6576468.84 398.4 142 26 -69.5 GMC
GFC149 328165.34 6576335.62 397.7 202 21 -59.5 GMC
GFC150 328132.52 6576361.08 398 128 20 -65.5 GMC
GFC151 328114.77 6576367.15 398.5 157 20 -63.75 GMC
GFC152 328093.54 6576378.39 399.1 175 21 -64 GMC
GFC153 328056.03 6576386.43 399.7 200 20 -60.75 GMC
GFC154 328020.89 6576405.19 400.9 195 19 -60 GMC
GFC155 327995.28 6576392.83 400.6 130 19 -60 GMC
GFC156 328179.09 6576313.55 397.9 234 19 -60 GMC
GFC157 328114.31 6576364.11 398.5 220 25 -69.5 GMC
GFC158 328018.61 6576457.35 397.8 198 21 -81 GMC
GFC159 328198.16 6576309.17 397.6 220 23 -59 GMC
GFC160 327964.80 6576426.04 400.1 120 23.48 -59.44 GMC
GFC161 327945.68 6576432.68 400.6 114 20.75 -58.77 GMC
GFC162 327926.72 6576439.10 400.8 147 18.39 -59.38 GMC
GFC164 327940.98 6576422.02 400.4 100 189.21 -89.31 GMC
GFC165 327920.24 6576423.66 400.8 80 12.45 -79.36 GMC
GFC166 327902.91 6576433.30 400.9 80 14.84 -79.55 GMC
GFC168 327960.83 6576419.54 400.4 120 27.47 -79.04 GMC
GFD029 328026.82 6576478.55 399.2 93 18.89 -60 CGNL
GFD032 328064.59 6576465.33 399 95.2 18.89 -60 CGNL
GFD035 328103.42 6576452.82 398.6 87.14 18.89 -60 CGNL
GFD038 328140.09 6576439.75 399 92 18.89 -60 CGNL
GFD041 328177.83 6576426.81 398.7 83.4 18.89 -60 CGNL
GFD049 328215.89 6576414.26 398.6 67.01 18.89 -60 CGNL
GFD053 328020.01 6576459.93 399.2 129.5 18.89 -60 CGNL

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GFD055 328058.53 6576445.89 398.8 134.5 18.89 -60 CGNL
GFD057 328093.12 6576436.61 398.6 122 18.89 -60 CGNL
GFD064 328245.37 6576382.41 398.6 79 18.89 -60 CGNL
GFD066 328132.25 6576421.09 398.3 143 18.89 -60 CGNL
GFD068 328170.32 6576408.18 398.3 121.5 18.89 -60 CGNL
GFD069 328207.20 6576395.11 398.2 119 18.89 -60 CGNL
GFD078 328050.56 6576427.99 398.9 146.4 18.89 -60 CGNL
GFD080 328010.87 6576441.00 399.5 154.1 18.89 -60 CGNL
GFD082 328088.10 6576416.47 398.6 133 18.89 -60 CGNL
GFD083 328080.84 6576399.01 398.4 200 18.89 -60 CGNL
GFD084 328124.89 6576402.07 398.3 151 18.89 -60 CGNL
GFD085 328118.56 6576384.65 398.1 169.35 18.89 -60 CGNL
GFD086 328163.23 6576389.43 397.9 131 18.89 -60 CGNL
GFD087 328155.98 6576371.98 397.9 173 18.89 -60 CGNL
GFD088 328200.38 6576376.04 397.9 127 18.89 -60 CGNL
GFD089 328225.79 6576346.88 397 149.1 18.89 -60 CGNL
GFD090 328238.19 6576363.33 398.1 126 18.89 -60 CGNL
GFD091 328193.55 6576357.43 397.5 165 18.89 -60 CGNL
GFD092 328128.35 6576411.49 398 141 18.89 -60 CGNL
GFD093 328041.01 6576518.37 370.5 122.1 20 -90 CGNL
GFD094 328041.25 6576519.08 370.5 49 18.89 -60 CGNL
GFD095 328077.85 6576500.75 370.14 119 25 -88 CGNL
GFD097 328116.41 6576488.90 368.8 54.7 301 -86 CGNL
GFD098 328116.81 6576489.55 368.9 37.1 20 -69 CGNL
GFD099 327995.26 6576500.82 399.6 82.1 21 -59 CGNL
GFD100 327999.59 6576517.24 399.8 95 25 -60 CGNL
GFD101 328257.73 6576412.02 368.8 30 0 -90 CGNL
GFD102 328228.72 6576434.43 368.4 49 20 -60 CGNL
GFD103 328229.35 6576443.95 368.9 44 20 -60 CGNL
GFD104 328196.69 6576462.73 369.1 44 20 -65 CGNL
GFD105 328155.40 6576481.13 368.8 40 20 -65 CGNL
GFD106 328012.19 6576493.83 399.8 96 20 -60 CGNL
GFD107 328010.78 6576473.86 399.7 128 20 -60 CGNL
GFD108 328044.80 6576470.20 399.5 111 20 -60 CGNL
GFD109 328082.24 6576454.21 399.3 96 20 -60 CGNL
GFD110 328078.14 6576441.53 398.7 105 20 -60 CGNL
GFD111 328040.75 6576514.56 370.3 44 200 -60 CGNL
GFD112 328056.77 6576503.84 370.7 41.5 200 -60 CGNL
GFD113 328077.00 6576498.27 370 44.5 200 -60 CGNL
GFD114 328096.44 6576495.21 369.7 35 20 -70 CGNL
GFD115 328098.76 6576501.19 369.9 25 20 -65 CGNL
GFD432 328137.81 6576374.22 377.5 187 20.26 -59.2 MPI
GFD433 328143.28 6576389.51 377.6 132.8 18.59 -54.06 MPI
GFDD30160-1 328077.43 6576388.80 376.96 179.5 21.71 -58.47 REDEMPTION
JV
GFDD30300-1 328218.79 6576365.15 379.97 122.7 20.73 -60.46 REDEMPTION
JV
GFDD30340-1 328263.34 6576366.96 382.95 92.7 17.95 -59.21 REDEMPTION
JV
GFR429 328143.84 6576419.37 373.1 110 20.74 -59.87 MPI
GFR430 328151.34 6576381.73 377.5 150 20.41 -59.04 MPI

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GFR431 328133.79 6576391.99 377.6 142 20.31 -57.6 MPI
GFR434 328115.07 6576428.57 377.8 110 20 -50 MPI
GFRC30060-1 327998.67 6576462.80 378.48 132 18 -65 REDEMPTION
JV
GFRC30100-1 328024.60 6576421.43 378.08 60 158.2 -87.85 REDEMPTION
JV
GFRC30120-1 328050.60 6576425.98 374.28 140 21 -59 REDEMPTION
JV
GFRC30340-2 328269.64 6576389.07 378.1 70 23.45 -61 REDEMPTION
JV
GFRC30340-3 328262.30 6576369.09 382.82 90 270.38 -89.2 REDEMPTION
JV
TMHCD0009 328191.72 6576283.72 397.581 324.56 13.04 -63.7 FOCUS
TMHCD0011 328078.27 6576286.62 401.226 316.73 25.81 -56.63 FOCUS
TMHCD0017 328221.74 6576561.23 402.977 319.79 205.64 -52.16 FOCUS
TMHCD0018 328258.23 6576541.49 402.839 328.24 193.04 -50 FOCUS
TMHDD0019 327996.85 6576529.96 381.931 187.9 205.04 -80 FOCUS
TMHDD0020 327996.85 6576529.96 381.931 198.8 201.04 -70 FOCUS
TMHDD0021 328228.43 6576436.08 360.169 170.67 207.84 -54.4 FOCUS
TMHDD0022 328228.43 6576436.08 360.169 215.29 210.94 -64.3 FOCUS
TMHDD0023 328228.43 6576436.08 360.169 232.94 210.04 -77 FOCUS
Data
aggregation
methods

New exploration results mineralised intersections are reported at a 0.9g/t Au cut-off
with a minimum reporting width of 1m for RC holes and 0.2m for diamond holes,
reported as length-weighted average grades.

For Greenfields, mineralised intersections are reported at 1.0g/t Au cut-off with a
minimum reporting width of 1m for RC holes and 0.2m for diamond holes, reported
as length-weighted averages.
Relationship
between
mineralisation
widths and
intercept
lengths

Holes were drilled orthogonal to mineralisation as much as possible, however the
exact relationship between intercept width and true width cannot be estimated
exactly in all cases.
Diagrams Refer to Figures and Tables in body of the release.
Balanced
reporting
Recent FML drill assay results used in this estimation are published in previous news
releases. Historic drill hole results available on WAMEX.
Other
substantive
exploration
data
There is no other material exploration data to report at this time.
Further work RC and Diamond drilling is ongoing at Brilliant and the current program is anticipated
to be completed in late May 2017. A resource update is expected once all data has
been received.

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  • Follow-up RC drilling is planned at Bonnie Vale to further delineate lode mineralisation in structures parallel to the Quarry Reef, as well as testing greenfields geophysical targets in the Bonnie Vale district

  • Follow-up RC drilling is planned at Lindsays North.

  • Future work at Greenfields will be contingent upon the results of the Preliminary Feasibility Study previously announced.

Section 3 Estimation and Reporting of Mineral Resources - Greenfields

(Criteria listed in section 1, and where relevant in section 2, also apply to this section. This section refers exclusively to the Greenfields Resource Update)

Criteria Commentary
Database
integrity
Data was geologically logged electronically, collar and downhole surveys were also
received electronically as was the laboratory analysis results. These electronic files
were loaded into an acQuire database by either consultants rOREdata or the
company in-house Database Administrator. Data was routinely extracted to
Microsoft Access during the drilling program for validation by the geologist in charge
of the project.
FML’s database is a Microsoft SQL Server database (acQuire), which is case
sensitive, relational and normalised to the Third Normal Form. As a result of
normalisation, the following data integrity categories exist:

Entity Integrity: No duplicate rows in a table, eliminated redundancy and
chance of error.

Domain Integrity: Enforces valid entries for a given column by restricting the
type, the format or a range of values.

Referential Integrity: Rows cannot be deleted which are used by other records.

User-Defined Integrity: Business rules enforced by acQuire and validation
codes set up by FML.
Additionally, in-house validation scripts are routinely run in acQuire on FML’s
database and they include the following checks:

Missing collar information

Missing logging, sampling, downhole survey data and hole diameter

Overlapping intervals in geological logging, sampling, down hole surveys

Checks for character data in numeric fields
The historical Greenfields drill data was validated by the Focus data management
team and the Project Geologist. This involved collaborating all collar, downhole
survey, geology and assay data with existing hardcopy material as well as
displaying the holes in three dimensions in Surpac to determine any unusual or
unlikely trends in the data so that it could be rectified before loading into the Focus
site database. This process was thorough and took a couple of months for the
team to complete.
Site visits Hannah Kosovich, the Competent Person for the Greenfields Resource Estimate is
FML’s Resource Geologist, and conducts periodic site visits.
Wesley Groome, the Competent Person for the exploration results, is Senior
Geologist at FML and conducts regular site visits
Geological
interpretation
All available drill hole and historic mining data was used to guide the geological
interpretation of the mineralisation.
The majority of the resource occurs in what has been labelled the Unit 4 Dolerite.
The remaining minor lodes occur within the less well mineralised (and altered) Unit
3 and Unit 5 Dolerites.
The mineralised geological interpretation was digitised in GEOVIA Surpac software
on a section by section basis. The contact of the Dolerite 4 was used to guide the
interpretation or an approximate 0.5g/t cut-off was used where the contact was
obscure. Significant internal dilution included for continuity of modelling the Dolerite
contact.
Minor deviation only of the lode geometry was noticed between drill holes along

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strike and down-dip.
Minor lodes with less continuity and sample numbers were also interpreted.
Dimensions The resource extends over a strike length of over 300m (from 30030mE to
30350mE) and includes the ~200m interval from the mined surface down to the
120mRL. The thickness of the main lode varies from average thickness of 20m near
surface pinching to an average thickness of 10m at depth.
Estimation and
modelling
techniques
158 holes were used in the estimate including 96 RC, 8 diamond core holes and 54
RC pre-collared diamond core holes for a total of 16,908.82.
Samples within the wireframes were composited to even 2m intervals, the dominant
sample interval from historic drilling. Residual samples that did not meet the
minimum length criteria of the compositing process were appended to the adjacent
sample so that all material within the wireframe was included
The statistics of the 2m composites were analysed to determine if any top cutting
was required. Top-capping of higher Au values within each domain was carried out
with Au values above the cut-off grade reset to the cut-off grade.
Skree plots and Cumulative Frequency plots were used to determine top cut grade
which was 25 g/t Au and affected five samples.
Variography was modelled for the Major, Semi Major and Minor axes on the main
Unit 3 Dolerite.
GEOVIA Surpac Software was used for the estimation. An Ordinary Kriging (OK)
technique was selected using the variograms modelled in Surpac. Each domain
was estimated separately using only its own sample values. No samples were
shared between domains (hard boundaries).
Minimum (8) and maximum (32) sample numbers were selected based on a
Quantitative Kriging Neighbourhood analysis.
An elliptical search was used orientated on the lode geometry and based on range
of the Variograms.
Three search passes were run in order to fill the block model with estimated Au
values, with reduced minimum sample numbers and increased search distances.
Block sizes for the model were 5m in Y, 20m in X and 5m in Z direction. Sub celling
of the parent blocks was permitted to 1.25m in the Y direction, 5m in the X direction
and 2.5m in the Z direction. Sub-blocking was used to best fill the wireframes and
inherit the grade of the parent block. A 20° rotation in the Z axis (bearing rotation)
was applied to the orientation of the blocks. This aligned the blocks with the WNW
strike of the lodes.
The estimate was validated by a number of methods. An initial visual review was
done by comparing estimated blocks and raw drill holes.
Tonnage weighted mean grades were compared for all lodes with the raw and top-
capped drill hole values. There were no major differences.
Swath plots of drill hole values and estimated Au grades by northing and RL were
completed to review the trends of the raw data vs estimates and if too much
smoothing of the grades had occurred.
Comparisons between previous Greenfields block model estimates was also plotted
as trend lines by elevation.
Moisture Tonnages are estimated on a dry basis.
Cut-off
parameters
The Resources for Brilliant have been reported above a 1g/t cut-off for open pit
above 265mRL, this is based on a preliminary whittle shell optimisation.
Mining factors
or
assumptions
An existing open pit exists at Greenfields, mining would continue by cut-back and
open cut extraction.
Metallurgical
factors or
assumptions
In house metallurgical test work had been conducted on Greenfields samples and
recoveries were in the plus 90% range.
GMC who mined Greenfields from Dec 2003 to Jan 2005 had an overall
reconciliation of ~96.9% of tonnes, 100.7% of grade and 101% of ounces milled
compared to mined.

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Environmental
factors or
assumptions
Greenfields deposit occurs in an area of previous disturbance with an open cut pit
and associated waste dump.
The Three Mile Hill Processing Plant is currently on care and maintenance, but has
all necessary tailing facilities etc. that would allow for a rapid restart of the plant.
Bulk density Bulk densities of 1.8, 2.4 and 2.8 t/m³ were applied to Oxide, Transitional and Fresh
resources respectively. The oxide and transitional values are based on values used
in similar gold deposits. The fresh rock value is based on 32 measurements taken
from recent Focus drill core using a water immersion method and is the average
value of those samples.
Classification Resources have been classified as either Indicated or Inferred based mainly on
geological confidence in the geometry and continuity of the lodes. In addition,
various estimation output parameters such as number of samples, search pass,
kriging variance, and slope of regression have been used to assist in classification.
Recent Focus drilling has confirmed the geological interpretation is sound and
provided some quality assurance in the pre-Focus drilling.
Audits or
reviews
No external audits or reviews were formally carried out on the Greenfields deposit.
Discussion of
relative
accuracy/
confidence
The mineral resource relates to global tonnage and grade estimates.
The Greenfields pit has been mined in four campaigns in the modern era
commencing in 1986 and finishing in 2005 producing some 0.98Mt @ 1.81g/t for
56,776 ounces (reconciled).
The current model reports higher tonnages at a lower grade due to the internal
dilution included in modelling the main dolerite unit, 1.38Mt @ 1.69g/t for 75,214
ounces.

21