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IRON BEAR RESOURCES LTD — Interim / Quarterly Report 2014
Jul 29, 2014
65091_rns_2014-07-29_6aff577f-29f2-4d5c-902e-03218568a129.pdf
Interim / Quarterly Report
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June 2014 Quarterly Report 30 July 2014
30 July 2014
Cape Lambert Resources Limited (ASX: CFE) is a fully funded mineral development company with exposure to iron ore, copper, gold, uranium, manganese, lithium and lead-silverzinc assets in Australia, Europe, Africa and South America.
Australian Securities Exchange Code: CFE
QUARTERLY REPORT – 30 June 2014
Please find attached the Quarterly Activities Report and Appendix 5B for the period ended 30 June 2014.
Yours faithfully Cape Lambert Resources Limited
Tony Sage
Executive Chairman
Ordinary shares 632,227,857
Unlisted Options 500,000 ($0.15 exp 30 Sept 2015)
Board of Directors Tony Sage Executive Chairman
Tim Turner Non-executive Director
Jason Brewer Non-executive Director
Ross Levin Non-executive Director
Melissa Chapman Company Secretary
Key Projects and Interests Marampa Iron Ore Project Pinnacle Group Assets
Cape Lambert Contact Tony Sage Executive Chairman
Eloise von Puttkammer Investor Relations
Phone: +61 8 9380 9555 Email: [email protected]
Australian Enquiries
Professional Public Relations David Tasker Phone: +61 8 9388 0944 Mobile: +61 433 112 936 Email: [email protected]
UK Enquiries
Tavistock Communications Emily Fenton / Jos Simson Phone: +44 (0)207 920 3150 Mobile: +44 (0)7899 870 450
www.capelam.com.au
Cape Lambert Resources Limited June 2014 Quarterly Report
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CORPORATE
Highlights
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At 30 June 2014, the Company had approximately A$20.5 million in cash at bank.
-
Settlement with MCC reached whereby Cape Lambert received $51.6m cash.
-
Buy back continues with 24,564,880 fully paid ordinary shares bought back in the quarter.
Strategy and Business Model
Cape Lambert Resources Limited ( ASX: CFE ) ( Cape Lambert or the Company ) is an Australian domiciled, fully funded, mineral development company. Cape Lambert has interests in several exploration and mining companies, providing exposure to iron ore, copper, gold, uranium, manganese, lithium and lead-silver-zinc assets in Australia, Europe, Africa and South America (refer Figure 1).
Cape Lambert’s strategy is to acquire and invest in undervalued and/or distressed mineral assets and companies (Projects) and:
-
improve the value of these Projects, through a hands on approach to management, exploration, evaluation and development; and
-
retain long-term exposure to these Projects through a production royalty and/or equity interest.
Cape Lambert aims to deliver shareholder value by adding value to these undeveloped Projects. If Projects are converted into cash, the Company intends to follow a policy of distributing surplus cash to Shareholders.
Capital Management
On Market Buy-Back
During the quarter, the Company continued with its on market share buy-back of up to 10% of the Company’s fully paid ordinary shares ( Shares ) within the 12 months from 23 January 2014. Shares bought back by the Company are subsequently cancelled.
During the quarter, the Company bought back 24,564,880 Shares for total consideration of A$2,433,351.98. As at 29 July 2014, there are 31,082,858 Shares remaining that may be bought back under this facility.
Investments and Divestments
FE Limited
FE Limited ( ASX: FEL ) ( FE Limited ) is an Australian based mineral resources company which holds interests in a large portfolio of mineral resource projects prospective for iron, gold and nickel in Western Australia and Queensland.
In June 2011, FE Limited entered into a loan agreement with Cape Lambert ( Loan Agreement A ) pursuant to which Cape Lambert agreed to lend FE Limited A$2 million, with interest accruing at the cash rate plus 3% per annum.
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In December 2012, FE Limited entered into a second loan agreement with Cape Lambert ( Loan Agreement B ) pursuant to which Cape Lambert agreed to lend FE Limited A$1 million, with interest accruing at the same rate as Loan Agreement A.
On 20 December 2013, FE Limited entered into a settlement arrangement ( Settlement and Converting Loan Agreement ) with respect to Loan Agreement A and Loan Agreement B. Pursuant to the Settlement and Converting Loan Agreement, A$1 million will be repaid to Cape Lambert in cash and subject to shareholder approval, A$2,000,000 (together with accrued interest) will automatically convert into shares at a conversion price calculated at 80% of the volume weighted average closing price of the shares as quoted on ASX over the last ten days immediately preceding the conversion.
On 26 February 2014, a total of 104,193,055 FE Limited Shares were issued to Dempsey Resources Pty Ltd, a wholly owned subsidiary of Cape Lambert, in satisfaction of the amounts owing under the Settlement and Converting Loan Agreement.
During the quarter, Cape Lambert received the balance of consideration being A$1,000,000 cash in accordance with the Settlement and Converting Loan Agreement.
Following conversion of the Settlement and Converting Loan Agreement, Cape Lambert holds a 57.8% interest in FE Limited.
Legal Action and Disputes
MCC Legal Action
Subsequent to the quarter end, as announced on 14 July 2014, the Company reached settlement with the Metallurgical Corporation of China Limited over the final A$80 million payment from the sale of the Cape Lambert magnetite project.
On 8 September 2010, Cape Lambert announced that it had commenced legal action against MCC Australia Sanjin Mining Pty Ltd ( MCC Sanjin ), and its parent company Metallurgical Corporation of China Limited (collectively MCC ) to recover the final A$80 million payment from the sale of the Cape Lambert magnetite project in mid-2008 pursuant to an agreement between the parties ( MCC Agreement ). In accordance with the terms of the MCC Agreement, Cape Lambert received payments totalling A$320 million in 2008, with the final payment due on the grant of mining approvals, or if MCC had not used its reasonable endeavours to procure the mining approvals within two years.
Legal proceedings were instigated in the Supreme Court of Western Australia after discussions between MCC and Cape Lambert to resolve the non-payment proved unsuccessful.
In March 2013, the Court made orders, inter alia, for the dispute to be determined by an arbitrator in Singapore and for the Company to propose (such proposal to be consented to by the MCC parties) that the dispute between the Company and MCC (in respect to the payment of A$80 million into an escrow account pending determination of the primary dispute) ( Escrow Dispute ) be heard and determined by the arbitrator prior to the hearing of the disputes between the Company and MCC.
The Company referred the dispute to arbitration in Singapore and in June 2013 a hearing was held by the Arbitrator to determine the Escrow Dispute. The Arbitrator ordered that MCC pay the disputed amount of A$80 million into an escrow account in the joint names of
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the Company and MCC pending the determination of the substantive dispute. The amount was paid into the escrow account on 25 November 2013.
The substantive legal matter was due to be heard in Singapore commencing in July 2014.
In July 2014, the Company and MCC reached an out of court settlement. Under the terms of the settlement, the escrow agent was ordered to released the funds held in escrow with A$30 million payable to MCC and the balance of A$51.6 million, which included accrued interest, to Cape Lambert. The funds were received by the Company on 17 July 2014.
The Singapore International Arbitration Centre has been informed that a settlement has been reached and has been requested to issue a procedural order suspending the arbitrations.
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PROJECTS
Marampa (100% interest)
Marampa is an iron ore project at development and permitting stage, and is located 90 km northeast of Freetown, Sierra Leone, West Africa ( Marampa or Marampa Project ) (refer Figure 2). Marampa comprises two granted exploration licences (EL46A/2011 – 239.18 km[2] and EL46B/2011 – 66.00 km[2 ] (formerly EL46/2011 – 305.18 km[2] )) held by Marampa Iron Ore (SL) Limited, which is indirectly, a wholly owned subsidiary of Cape Lambert.
Marampa has a total JORC Mineral Resource of 681 million tonnes[1] ( Mt ) at 28.2% Fe (above a cut-off grade of 15% Fe) covering four deposits (Gafal, Matukia, Mafuri and Rotret) (refer ASX Announcement 7 July 2011).
Exploration
No exploration activities occurred during the quarter.
Topographic Surveying
Topographic surveying continued with completion of the tailngs storage facility. Surveying is now focusing on the farm land and crop areas to allow assessment for compensation requirements..
Mining Licence
The Large Scale Mining Licence application lodged late in 2013 (refer ASX announcement 22 November 2013) remains in process and is expected to be granted during H2, 2014.
Dempsey Resources (100% interest)
Dempsey Resources holds the Kukuna Iron Ore Project located in Sierra Leone ( Kukuna or Kukuna Project ).
The Project is located 120 km northeast of Freetown in the northwest of Sierra Leone and consists of one exploration licence (EL22/2012) covering 68 km[2] (refer Figure 2). The licence is located 70 km due north of the Marampa Project and the Pepel Infrastructure and comprises rocks that correlate with the Marampa Group stratigraphy known to host specular hematite mineralisation.
The Kukuna project is currently under care and maintenance. The Company is maintaining the camp as a base for exploration activities in the and around the district.
1 This information was prepared and first disclosed under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported.
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Pinnacle (100% interest)
Pinnacle holds the Sandenia Iron Ore Project ( Sandenia or Sandenia Project ) located 290 km east of Conakry in the central south of the Republic of Guinea. The Project comprises a single tenement covering approximately 298 km[2] . The Sandenia permit contains Banded Iron Formation prospective for iron mineralisation, similar to that hosting the 6.16 Bt Kalia deposit owned by Bellzone Mining plc located on the contiguous permit to the north.
Company geologists conducted a site visit and reviewed all available information on the Sandenia Project during the quarter. In light of the recent announcement by Rio Tinto in relation to the proposal to build a multi user deep water port and rail system and its proximity to the Sandenia Project, the Company will offer the project for divestment as a opportunity to companies wishing to expand their iron ore portfolio. An information memorandum has been produced and released to selected companies considered to have a potential interest in the project.
The camp and facilities have been placed on care and maintenance.
Metal Exploration Limited (100% interest)
Metal Exploration (Mauritius) Limited, a wholly owned subsidiary of Cape Lambert, holds 17 granted exploration licences and one application in Sierra Leone covering approximately 2,386 km[2] . This land package covers the region 70 km to the north and south of Marampa and is referred to as the Rokel Iron Ore Project ( Rokel or Rokel Project ). Rocks from the Marampa Group exist throughout the licence areas, much the same as the Marampa Project, and are known to host specularite schist bearing units.
The Rokel Project is prospective for discovery of hematite schist deposits geologically similar to those at Marampa and is located proximal to the existing Pepel Infrastructure (refer Figure 2). Regional mapping and geophysics has identified a number of prospective areas which are progressively being followed up with targeted exploration.
Exploration
Exploration in the form of line cutting, clearing, mapping and pitting continued in the Rokel leases throughout the quarter to define southerly extensions to the existing Kumrabai prospect and to follow up on the magnetite schist lithology identified along the western edge of the tenement group.
Hematite bearing schistose rocks continue to be discovered as float and in-situ, which are confirmed with the excavation of pits. The exploration team has been divided to allow the continuance of trend definition to the south and initiate the same exploration methodology to the north of the Kumrabai prospect. This work will continue until all the mineralised surface trends have been defined after which the prospects will be ready for drilling.
The tenements/prospects where exploration has taken place during the quarter include; Kumrabai South; Magbosi (magnetite); Makumba and Matopi; Makonkari; Gbahama; and Gbangbama.
Figure 3 shows the mapped mineralised trend in the Rokel tenements identified to date.
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Sampling
No assays were dispatched or received during the quarter although 81 samples were processed through the sample preparation laboratory in Lunsar ready for further analysis.
Cote D’Ivoire (100% interest)
Metals Exploration Cote D’Ivoire SA Limited is a wholly owned subsidiary of Cape Lambert Resources. The Company holds three tenements in the highly prospective Birimian Gold Belt of Cote D’Ivoire. The tenements are named Boundiali North (400km[2] ), Katiola (400km[2] ) and Bouake (400km[2] ) for a total land position of 1,200km[2 ] (refer Figure 4).
The tenements all contain, or are adjacent to, Birimian Greenstones and metasediments and have significant structural characteristics known to host high tenor gold mineralisation in the district. The Birimian Group is broadly divided into phyllites, tuffs and greywackes of the Lower Birimian (Type 2 metasediments), and various basaltic to andesitic lavas and volcanoclastics of the Upper Birimian (Type 1 Greenstone metavolcanics). Spatial distribution of gold mineralisation appears to be governed by north to northeast trending belts of metavolcanic rocks, ranging from 15 km to 40 km in width, associated with the Upper Birimian.
The Birimain Gold Belt is host to numerous multi-million ounce gold deposits including the Morila (7 Moz), Syama (7 Moz) and Tongon (4 Moz) deposits. Almost without exception, these major gold deposits are located at or close to the margins of the metavolcanic belts, adjacent to the strongly deformed contacts between the Upper and Lower Birimian sequences as seen to exist within the recently granted tenements.
All three tenements are highly prospective and have the potential to host multi-million ounce gold deposits (refer to ASX announcement of 30 April 2013).
Exploration
All planning and preparations including permitting for the airborne geophysical survey over the three project areas were completed during the quarter. After some delays due to poor weather, the aircraft arrived in Cote D’Ivoire early in July and and is currently flying the survey at the time of writing this report. Results are anticipated in the December quarter.
Mt Anketell Pty Ltd (100% interest)
Mt Anketell Pty Ltd ( Mt Anketell ), a wholly owned subsidiary of Cape Lambert, holds a single exploration licence (E47/1493) covering 56.9 km[2] in the northern Pilbara region of Western Australia, which is prospective for niche iron and gold mineralisation associated with the Nickol River precinct. Mt Anketell recently received a two year extension of the licence terms.
A reconnaissance auger program was conducted over the Mt Anketell Nickol River gold prospect to test for alluvial mineralisation expected to have been shed off numerous outcropping gold bearing quartz veins in the district. Holes were designed predominantly around known vein locations and across a tidal salt lake which many of the veins trend into. The target was possible alluvial mineralisation in and around the salt lake.
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Of a planned possible maximum 483 holes, a total of 191 auger holes were drilled to depths ranging from just below surface to a maximum of 2.8 m. Material intersected varied from estuarine muds, grit layers and sand with basal intersections of ultramafic schist (chlorite), gabbro, quartz veining and epidosite alteration after an original ultramafic protolith (refer to Figure 5 for hole locations).
Despite the apparent prospectivity of the area, the results obtained to date do not support the presence of fine gold held within the sediment at any commercial levels. Anecdotally, there remains the presence of coarse gold but only at recreational prospecting levels.
These results do not support any ongoing or further work on the prospect.
Assay Results
All assays have been received with no significant results. The best result returned was 0.133 g/t Au in a sample derived from the salt lake sediment. Refer to Table 1 for a complete list of assay results and the appendicies for the JORC Table 1 report.
Competent Person:
The contents of this Report relating to Exploration Results and Mineral Resources are based on information compiled by Olaf Frederickson, a Member of the Australasian Institute of Mining and Metallurgy. Mr Frederickson is a consultant to Cape Lambert and has sufficient experience relevant to the style of mineralisation and the deposit under consideration and to the activity 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 Frederickson consents to the inclusion in this report of the matters compiled by him in the form and context in which they appear.
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Figure 1: Group Structure June 2014
| (ASX: CFE) | (ASX: CFE) | (ASX: CFE) | (ASX: CFE) | (ASX: CFE) | |
|---|---|---|---|---|---|
| Exploration Projects | Investments in Listed Entities | ||||
| Marampa Iron Ore Project CFE - 100% Sierra Leone |
International Goldfields Limited (ASX: IGS) 24.7% interest Gold(Australia/ Cote d'Ivoire/ Brazil) |
||||
| Kukuna Iron Ore Project CFE Sierra Leone |
Fe Limited (ASX: FEL) 57.8% interest Iron Ore, Gold, Nickel(Yilgarn, Australia) |
||||
| Sandenia Iron Ore Project CFE - 100% Guinea |
Kupang Resources Limited (ASX: KPR) 12.6% interest Manganese(West Timor) |
||||
| Rokel Iron Ore Project CFE - 100% Sierra Leone |
Latin Resources Limited (ASX: LRS) 10.3% interest Iron Ore, Gold, Copper(Peru) |
||||
| Mt Anketell Iron Ore Project CFE - 100% WA, Australia |
OGL Resources Limited (ASX: OGL) $1.0m cnote |
||||
| Cote D'ivoire Gold Project CFE - 100% Cote D'Ivoire |
Cauldron Energy Limited (ASX: CXU) 21.0% interest Uranium (Australia / Argentina) $0.85m cnote |
||||
| Gabon Iron Ore Project CFE - 20% Gabon |
Global Strategic Metals NL (ASX: GSZ) 28.0% interest Lithium (Austria) |
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Figure 2: Cape Lambert West African Iron Ore Interests
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Figure 3: Location Map of Rokel Prospects
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Figure 4: Cote D’IvoireTenements
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Figure 5: Mt Anketell Auger hole Locations.
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Table 1: Mt Anketell Auger Assay Results.
| SAMPLE LOCATION | SAMPLE LOCATION | SAMPLE LOCATION | SAMPLE LOCATION | SAMPLE LOCATION | SAMPLE LOCATION | ARM133 Lab Method | ARM133 Lab Method | ARM133 Lab Method | ARM133 Lab Method | ARM133 Lab Method | ARI133 Lab Method | ARI133 Lab Method | ARI133 Lab Method | ARI133 Lab Method | ARI133 Lab Method | ARI133 Lab Method |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sample | NAT | Au | As | Ag | Sn | Sb | Cu | Co | Mn | Ni | Pb | Zn | ||||
| ID | **Type ** | Date | Grid ID | North | East | **ppm ** | **ppm ** | **ppm ** | **ppm ** | **ppm ** | **ppm ** | **ppm ** | **ppm ** | **ppm ** | **ppm ** | **ppm ** |
| AN011 | AUG | 24/04/2014 | MGA94_50 | 7705050 | 496550 | 0.005 | ||||||||||
| AN012 | AUG | 24/04/2014 | MGA94_50 | 7705050 | 496650 | 0.007 | ||||||||||
| AN013 | AUG | 24/04/2014 | MGA94_50 | 7705050 | 496750 | 0.009 | ||||||||||
| AN014 | AUG | 24/04/2014 | MGA94_50 | 7705050 | 496850 | 0.010 | 9.30 | 0.18 | 0.67 | 0.23 | 51 | 40 | 1050 | 173 | 11 | 42 |
| AN024 | AUG | 24/04/2014 | MGA94_50 | 7705150 | 496550 | 0.005 | ||||||||||
| AN025 | AUG | 24/04/2014 | MGA94_50 | 7705150 | 496650 | 0.009 | ||||||||||
| AN026 | AUG | 24/04/2014 | MGA94_50 | 7705150 | 496750 | 0.015 | 12.30 | 0.09 | 0.60 | 0.24 | 33 | 20 | 702 | 95 | 9 | 34 |
| AN035 | AUG | 24/04/2014 | MGA94_50 | 7705250 | 496550 | 0.011 | ||||||||||
| AN036 | AUG | 24/04/2014 | MGA94_50 | 7705250 | 496650 | 0.013 | ||||||||||
| AN037 | AUG | 24/04/2014 | MGA94_50 | 7705250 | 497450 | 0.005 | ||||||||||
| AN047 | AUG | 24/04/2014 | MGA94_50 | 7705350 | 496550 | 0.008 | 6.90 | 0.06 | 0.41 | 0.22 | 31 | 24 | 902 | 112 | 6 | 23 |
| AN048 | AUG | 24/04/2014 | MGA94_50 | 7705350 | 496650 | 0.007 | ||||||||||
| AN049 | AUG | 24/04/2014 | MGA94_50 | 7705350 | 497050 | 0.010 | 9.10 | 0.09 | 0.66 | 0.27 | 65 | 45 | 1580 | 188 | 9 | 48 |
| AN050 | AUG | 24/04/2014 | MGA94_50 | 7705350 | 497150 | 0.014 | ||||||||||
| AN051 | AUG | 24/04/2014 | MGA94_50 | 7705350 | 497350 | 0.030 | ||||||||||
| AN052 | AUG | 24/04/2014 | MGA94_50 | 7705350 | 497450 | 0.014 | 22.90 | 0.08 | 0.37 | 0.50 | 39 | 16 | 470 | 87 | 5 | 22 |
| AN062 | AUG | 24/04/2014 | MGA94_50 | 7705450 | 496550 | 0.009 | ||||||||||
| AN067 | AUG | 24/04/2014 | MGA94_50 | 7705450 | 498350 | 0.003 | 56.30 | 0.07 | 0.13 | 0.26 | 19 | 23 | 402 | 155 | -5 | 14 |
| AN068 | AUG | 24/04/2014 | MGA94_50 | 7705450 | 498450 | 0.004 | ||||||||||
| AN074 | AUG | 24/04/2014 | MGA94_50 | 7705550 | 496550 | 0.040 | ||||||||||
| AN079 | AUG | 24/04/2014 | MGA94_50 | 7705550 | 498350 | 0.004 | ||||||||||
| AN080 | AUG | 24/04/2014 | MGA94_50 | 7705550 | 498450 | 0.007 | ||||||||||
| AN081 | AUG | 24/04/2014 | MGA94_50 | 7705550 | 498550 | 0.017 | 98.50 | 0.15 | 0.48 | 0.71 | 40 | 30 | 633 | 173 | 6 | 37 |
| AN082 | AUG | 24/04/2014 | MGA94_50 | 7705550 | 498650 | 0.037 | ||||||||||
| AN083 | AUG | 24/04/2014 | MGA94_50 | 7705550 | 498750 | 0.015 | ||||||||||
| AN088 | AUG | 24/04/2014 | MGA94_50 | 7705650 | 496950 | 0.009 | ||||||||||
| AN089 | AUG | 24/04/2014 | MGA94_50 | 7705650 | 497050 | 0.007 | ||||||||||
| AN090 | AUG | 24/04/2014 | MGA94_50 | 7705650 | 497150 | 0.012 | 10.30 | 0.08 | 0.51 | 0.34 | 50 | 45 | 1620 | 122 | 13 | 40 |
| AN091 | AUG | 24/04/2014 | MGA94_50 | 7705650 | 497250 | 0.010 | ||||||||||
| AN092 | AUG | 24/04/2014 | MGA94_50 | 7705650 | 498350 | 0.006 | ||||||||||
| AN093 | AUG | 24/04/2014 | MGA94_50 | 7705650 | 498450 | 0.015 | 19.40 | 0.11 | 0.68 | 0.31 | 33 | 22 | 730 | 100 | 9 | 37 |
| AN094 | AUG | 24/04/2014 | MGA94_50 | 7705650 | 498550 | 0.016 | ||||||||||
| AN095 | AUG | 24/04/2014 | MGA94_50 | 7705650 | 498650 | 0.013 | ||||||||||
| AN096 | AUG | 24/04/2014 | MGA94_50 | 7705650 | 498750 | 0.008 | ||||||||||
| AN105 | AUG | 24/04/2014 | MGA94_50 | 7705750 | 498650 | 0.011 | 27.40 | 0.21 | 0.46 | 0.39 | 33 | 33 | 818 | 179 | 10 | 32 |
| AN123 | AUG | 24/04/2014 | MGA94_50 | 7705950 | 497350 | 0.009 | 9.40 | 0.05 | 0.29 | 0.27 | 26 | 16 | 393 | 77 | -5 | 22 |
| AN124 | AUG | 24/04/2014 | MGA94_50 | 7705950 | 497450 | 0.003 | ||||||||||
| AN125 | AUG | 24/04/2014 | MGA94_50 | 7705950 | 497550 | 0.006 | ||||||||||
| AN126 | AUG | 24/04/2014 | MGA94_50 | 7705950 | 497650 | 0.030 | 3.80 | 0.05 | 0.13 | 0.15 | 27 | 17 | 202 | 81 | -5 | 30 |
| AN127 | AUG | 24/04/2014 | MGA94_50 | 7705950 | 497750 | 0.005 | ||||||||||
| AN128 | AUG | 24/04/2014 | MGA94_50 | 7705950 | 498150 | 0.011 | 6.60 | 0.03 | 0.19 | 0.23 | 16 | 9 | 339 | 42 | -5 | 12 |
| AN129 | AUG | 24/04/2014 | MGA94_50 | 7705950 | 498250 | 0.039 | ||||||||||
| AN130 | AUG | 24/04/2014 | MGA94_50 | 7705950 | 498350 | 0.018 | ||||||||||
| AN131 | AUG | 24/04/2014 | MGA94_50 | 7705950 | 498450 | 0.004 | ||||||||||
| AN132 | AUG | 24/04/2014 | MGA94_50 | 7705950 | 498550 | 0.006 | 13.50 | 0.05 | 0.74 | 0.29 | 37 | 26 | 711 | 114 | 8 | 36 |
| AN140 | AUG | 24/04/2014 | MGA94_50 | 7706000 | 497350 | 0.004 | ||||||||||
| AN141 | AUG | 24/04/2014 | MGA94_50 | 7706000 | 497450 | 0.009 | ||||||||||
| AN142 | AUG | 24/04/2014 | MGA94_50 | 7706000 | 497550 | 0.012 | ||||||||||
| AN143 | AUG | 24/04/2014 | MGA94_50 | 7706000 | 497650 | 0.005 | ||||||||||
| AN144 | AUG | 24/04/2014 | MGA94_50 | 7706000 | 497750 | 0.004 | ||||||||||
| AN145 | AUG | 24/04/2014 | MGA94_50 | 7706050 | 497350 | 0.016 | ||||||||||
| AN146 | AUG | 24/04/2014 | MGA94_50 | 7706050 | 497450 | -0.001 |
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September September
| SAMPLE LOCATION | ARM133 Lab Method | ARI133 Lab Method | ||||||||||||||
| Sample | Au | As | Ag | Sn | Sb | Cu | Co | Mn | Ni | Pb | Zn | |||||
| NAT | ||||||||||||||||
| ID | **Type ** | Date | Grid ID | North | East | **ppm ** | **ppm ** | **ppm ** | **ppm ** | **ppm ** | **ppm ** | **ppm ** | **ppm ** | **ppm ** | **ppm ** | **ppm ** |
| AN147 | AUG | 24/04/2014 | MGA94_50 | 7706050 | 497550 | 0.002 | 8.80 | -0.02 | 0.35 | 0.32 | 22 | 10 | 264 | 51 | -5 | 21 |
| AN148 | AUG | 24/04/2014 | MGA94_50 | 7706050 | 497650 | 0.010 | ||||||||||
| AN149 | AUG | 24/04/2014 | MGA94_50 | 7706050 | 497750 | 0.008 | ||||||||||
| AN150 | AUG | 24/04/2014 | MGA94_50 | 7706050 | 497850 | 0.002 | 10.70 | 0.03 | 0.21 | 0.43 | 22 | 12 | 388 | 43 | -5 | 18 |
| AN151 | AUG | 24/04/2014 | MGA94_50 | 7706050 | 497950 | 0.002 | ||||||||||
| AN153 | AUG | 24/04/2014 | MGA94_50 | 7706050 | 498150 | 0.005 | ||||||||||
| AN154 | AUG | 24/04/2014 | MGA94_50 | 7706050 | 498250 | 0.011 | 8.70 | 0.20 | 0.11 | 0.13 | 38 | 10 | 422 | 46 | 114 | 60 |
| AN155 | AUG | 24/04/2014 | MGA94_50 | 7706050 | 498350 | 0.038 | ||||||||||
| AN156 | AUG | 24/04/2014 | MGA94_50 | 7706050 | 498450 | 0.087 | ||||||||||
| AN165 | AUG | 24/04/2014 | MGA94_50 | 7706100 | 497350 | 0.056 | 7.70 | 0.02 | 0.34 | 0.34 | 21 | 11 | 280 | 55 | -5 | 23 |
| AN166 | AUG | 24/04/2014 | MGA94_50 | 7706100 | 497450 | 0.002 | ||||||||||
| AN167 | AUG | 24/04/2014 | MGA94_50 | 7706100 | 497550 | 0.003 | ||||||||||
| AN168 | AUG | 24/04/2014 | MGA94_50 | 7706100 | 497650 | 0.003 | ||||||||||
| AN169 | AUG | 24/04/2014 | MGA94_50 | 7706100 | 497750 | 0.002 | ||||||||||
| AN170 | AUG | 24/04/2014 | MGA94_50 | 7706100 | 497850 | -0.001 | ||||||||||
| AN173 | AUG | 24/04/2014 | MGA94_50 | 7706150 | 497350 | 0.009 | ||||||||||
| AN175 | AUG | 24/04/2014 | MGA94_50 | 7706150 | 497550 | 0.003 | ||||||||||
| AN176 | AUG | 24/04/2014 | MGA94_50 | 7706150 | 497650 | 0.002 | 10.00 | -0.02 | 0.63 | 0.49 | 43 | 22 | 252 | 80 | 9 | 37 |
| AN177 | AUG | 24/04/2014 | MGA94_50 | 7706150 | 497750 | 0.004 | ||||||||||
| AN184 | AUG | 24/04/2014 | MGA94_50 | 7706150 | 498450 | 0.013 | 10.20 | 0.05 | 0.18 | 0.16 | 9 | 4 | 169 | 27 | -5 | 8 |
| AN193 | AUG | 24/04/2014 | MGA94_50 | 7706200 | 496950 | 0.021 | 36.80 | 0.02 | 0.28 | 0.44 | 46 | 44 | 397 | 417 | 6 | 56 |
| AN194 | AUG | 24/04/2014 | MGA94_50 | 7706200 | 497050 | 0.046 | ||||||||||
| AN195 | AUG | 24/04/2014 | MGA94_50 | 7706200 | 497150 | 0.021 | ||||||||||
| AN196 | AUG | 24/04/2014 | MGA94_50 | 7706200 | 497250 | 0.133 | ||||||||||
| AN197 | AUG | 24/04/2014 | MGA94_50 | 7706200 | 497350 | 0.022 | 12.00 | -0.02 | 0.32 | 0.32 | 22 | 9 | 160 | 59 | -5 | 24 |
| AN209 | AUG | 24/04/2014 | MGA94_50 | 7706250 | 496550 | 0.009 | 8.20 | 0.02 | 0.23 | 0.34 | 30 | 12 | 380 | 76 | -5 | 19 |
| AN210 | AUG | 24/04/2014 | MGA94_50 | 7706250 | 496650 | 0.019 | ||||||||||
| AN211 | AUG | 24/04/2014 | MGA94_50 | 7706250 | 496750 | 0.063 | ||||||||||
| AN225 | AUG | 24/04/2014 | MGA94_50 | 7706250 | 498150 | 0.003 | ||||||||||
| AN246 | AUG | 24/04/2014 | MGA94_50 | 7706300 | 498150 | 0.007 | 8.60 | 0.02 | 0.60 | 0.33 | 36 | 20 | 867 | 67 | 8 | 35 |
| AN247 | AUG | 24/04/2014 | MGA94_50 | 7706300 | 498250 | 0.005 | ||||||||||
| AN248 | AUG | 24/04/2014 | MGA94_50 | 7706300 | 498350 | 0.005 | ||||||||||
| AN249 | AUG | 24/04/2014 | MGA94_50 | 7706300 | 498450 | 0.007 | ||||||||||
| AN250 | AUG | 24/04/2014 | MGA94_50 | 7706300 | 498550 | 0.010 | ||||||||||
| AN251 | AUG | 24/04/2014 | MGA94_50 | 7706300 | 498650 | 0.008 | 4.50 | 0.06 | 0.10 | 0.17 | 33 | 7 | 134 | 31 | -5 | 13 |
| AN252 | AUG | 24/04/2014 | MGA94_50 | 7706300 | 498750 | 0.058 | ||||||||||
| AN269 | AUG | 24/04/2014 | MGA94_50 | 7706350 | 498150 | 0.004 | ||||||||||
| AN270 | AUG | 24/04/2014 | MGA94_50 | 7706350 | 498250 | 0.006 | ||||||||||
| AN271 | AUG | 24/04/2014 | MGA94_50 | 7706350 | 498350 | 0.010 | ||||||||||
| AN272 | AUG | 24/04/2014 | MGA94_50 | 7706350 | 498450 | 0.004 | 7.00 | 0.03 | 0.21 | 0.29 | 29 | 15 | 536 | 46 | -5 | 19 |
| AN273 | AUG | 24/04/2014 | MGA94_50 | 7706350 | 498550 | 0.004 | ||||||||||
| AN274 | AUG | 24/04/2014 | MGA94_50 | 7706350 | 498650 | 0.005 | ||||||||||
| AN275 | AUG | 24/04/2014 | MGA94_50 | 7706350 | 498750 | 0.010 | ||||||||||
| AN276 | AUG | 24/04/2014 | MGA94_50 | 7706350 | 498850 | 0.039 | ||||||||||
| AN277 | AUG | 24/04/2014 | MGA94_50 | 7706350 | 498950 | 0.013 | 92.40 | 0.04 | -0.05 | 0.17 | 46 | 29 | 71 | 329 | -5 | 40 |
| AN288 | AUG | 24/04/2014 | MGA94_50 | 7706400 | 498050 | 0.005 | ||||||||||
| AN289 | AUG | 24/04/2014 | MGA94_50 | 7706400 | 498150 | 0.002 | ||||||||||
| AN290 | AUG | 24/04/2014 | MGA94_50 | 7706400 | 498250 | 0.005 | 6.50 | -0.02 | 0.37 | 0.31 | 24 | 11 | 378 | 43 | -5 | 19 |
| AN291 | AUG | 24/04/2014 | MGA94_50 | 7706400 | 498350 | 0.005 | ||||||||||
| AN292 | AUG | 24/04/2014 | MGA94_50 | 7706400 | 498450 | 0.005 | ||||||||||
| AN314 | AUG | 24/04/2014 | MGA94_50 | 7706450 | 498050 | 0.002 | 3.60 | 0.05 | 0.29 | 0.18 | 29 | 6 | 202 | 40 | -5 | 17 |
| AN315 | AUG | 24/04/2014 | MGA94_50 | 7706450 | 498150 | 0.006 | ||||||||||
| AN316 | AUG | 24/04/2014 | MGA94_50 | 7706450 | 498250 | 0.006 | ||||||||||
| AN317 | AUG | 24/04/2014 | MGA94_50 | 7706450 | 498350 | 0.004 |
Cape Lambert Resources Limited June 2014 Quarterly Report
Page 15 of 21
ASX Announcement Quarterly Report Period Ended 30 June 2014
September September
| SAMPLE LOCATION | ARM133 Lab Method | ARI133 Lab Method | ||||||||||||||
| Sample | Au | As | Ag | Sn | Sb | Cu | Co | Mn | Ni | Pb | Zn | |||||
| NAT | ||||||||||||||||
| ID | **Type ** | Date | Grid ID | North | East | **ppm ** | **ppm ** | **ppm ** | **ppm ** | **ppm ** | **ppm ** | **ppm ** | **ppm ** | **ppm ** | **ppm ** | **ppm ** |
| AN318 | AUG | 24/04/2014 | MGA94_50 | 7706450 | 498450 | 0.005 | 22.00 | 0.03 | 0.37 | 0.66 | 38 | 16 | 847 | 56 | -5 | 29 |
| AN319 | AUG | 24/04/2014 | MGA94_50 | 7706450 | 498550 | 0.005 | ||||||||||
| AN330 | AUG | 24/04/2014 | MGA94_50 | 7706500 | 497950 | 0.003 | ||||||||||
| AN331 | AUG | 24/04/2014 | MGA94_50 | 7706500 | 498050 | 0.006 | ||||||||||
| AN332 | AUG | 24/04/2014 | MGA94_50 | 7706500 | 498150 | 0.002 | ||||||||||
| AN333 | AUG | 24/04/2014 | MGA94_50 | 7706500 | 498250 | -0.001 | 17.10 | -0.02 | 0.51 | 0.94 | 34 | 17 | 409 | 76 | -5 | 30 |
| AN334 | AUG | 24/04/2014 | MGA94_50 | 7706500 | 498350 | 0.008 | ||||||||||
| AN335 | AUG | 24/04/2014 | MGA94_50 | 7706500 | 498450 | 0.002 | ||||||||||
| AN336 | AUG | 24/04/2014 | MGA94_50 | 7706500 | 498550 | 0.006 | ||||||||||
| AN337 | AUG | 24/04/2014 | MGA94_50 | 7706500 | 498650 | 0.002 | 9.30 | 0.03 | 0.51 | 0.53 | 32 | 18 | 800 | 65 | 8 | 35 |
| AN356 | AUG | 24/04/2014 | MGA94_50 | 7706550 | 497950 | 0.005 | 5.50 | 0.03 | 0.32 | 0.24 | 24 | 13 | 411 | 52 | -5 | 25 |
| AN357 | AUG | 24/04/2014 | MGA94_50 | 7706550 | 498050 | -0.001 | ||||||||||
| AN358 | AUG | 24/04/2014 | MGA94_50 | 7706550 | 498150 | -0.001 | ||||||||||
| AN359 | AUG | 24/04/2014 | MGA94_50 | 7706550 | 498250 | 0.006 | ||||||||||
| AN360 | AUG | 24/04/2014 | MGA94_50 | 7706550 | 498350 | 0.008 | ||||||||||
| AN361 | AUG | 24/04/2014 | MGA94_50 | 7706550 | 498450 | 0.005 | 24.50 | 0.04 | 0.25 | 0.78 | 30 | 17 | 755 | 58 | -5 | 22 |
| AN362 | AUG | 24/04/2014 | MGA94_50 | 7706550 | 498550 | 0.006 | ||||||||||
| AN363 | AUG | 24/04/2014 | MGA94_50 | 7706550 | 498650 | 0.003 | ||||||||||
| AN373 | AUG | 24/04/2014 | MGA94_50 | 7706600 | 498250 | 0.019 | 47.20 | 0.07 | 0.39 | 1.77 | 86 | 20 | 492 | 85 | 6 | 50 |
| AN374 | AUG | 24/04/2014 | MGA94_50 | 7706600 | 498350 | 0.007 | ||||||||||
| AN375 | AUG | 24/04/2014 | MGA94_50 | 7706600 | 498450 | 0.008 | ||||||||||
| AN376 | AUG | 24/04/2014 | MGA94_50 | 7706600 | 498550 | 0.007 | ||||||||||
| AN377 | AUG | 24/04/2014 | MGA94_50 | 7706600 | 498650 | 0.006 | 3.80 | -0.02 | 0.22 | 0.19 | 29 | 11 | 215 | 49 | -5 | 24 |
| AN399 | AUG | 24/04/2014 | MGA94_50 | 7706650 | 498350 | 0.003 | ||||||||||
| AN400 | AUG | 24/04/2014 | MGA94_50 | 7706650 | 498450 | 0.002 | 44.20 | 0.05 | 0.32 | 1.66 | 65 | 30 | 1330 | 90 | -5 | 55 |
| AN401 | AUG | 24/04/2014 | MGA94_50 | 7706650 | 498550 | 0.009 | ||||||||||
| AN402 | AUG | 24/04/2014 | MGA94_50 | 7706650 | 498650 | 0.006 | ||||||||||
| AN412 | AUG | 24/04/2014 | MGA94_50 | 7706700 | 498550 | 0.006 | ||||||||||
| AN413 | AUG | 24/04/2014 | MGA94_50 | 7706700 | 498650 | 0.006 | ||||||||||
| AN414 | AUG | 24/04/2014 | MGA94_50 | 7706700 | 498750 | 0.003 | ||||||||||
| AN415 | AUG | 24/04/2014 | MGA94_50 | 7706700 | 498850 | 0.004 | ||||||||||
| AN416 | AUG | 24/04/2014 | MGA94_50 | 7706700 | 498950 | 0.004 | 12.60 | 0.03 | 0.48 | 0.60 | 36 | 19 | 772 | 64 | 8 | 31 |
| AN417 | AUG | 24/04/2014 | MGA94_50 | 7706700 | 499050 | 0.008 | ||||||||||
| AN418 | AUG | 24/04/2014 | MGA94_50 | 7706700 | 499150 | 0.002 | ||||||||||
| AN419 | AUG | 24/04/2014 | MGA94_50 | 7706700 | 499250 | 0.006 | ||||||||||
| AN420 | AUG | 24/04/2014 | MGA94_50 | 7706700 | 499350 | 0.008 | ||||||||||
| AN421 | AUG | 24/04/2014 | MGA94_50 | 7706700 | 499450 | 0.009 | 8.90 | 0.19 | 0.23 | 0.69 | 28 | 20 | 855 | 57 | -5 | 32 |
| AN422 | AUG | 24/04/2014 | MGA94_50 | 7706700 | 499550 | 0.004 | ||||||||||
| AN431 | AUG | 24/04/2014 | MGA94_50 | 7706750 | 498250 | 0.003 | 15.40 | 0.03 | 0.66 | 0.74 | 25 | 19 | 359 | 70 | 11 | 41 |
| AN432 | AUG | 24/04/2014 | MGA94_50 | 7706750 | 498350 | 0.002 | ||||||||||
| AN433 | AUG | 24/04/2014 | MGA94_50 | 7706750 | 498450 | 0.002 | ||||||||||
| AN434 | AUG | 24/04/2014 | MGA94_50 | 7706750 | 498550 | 0.003 | ||||||||||
| AN435 | AUG | 24/04/2014 | MGA94_50 | 7706750 | 498650 | 0.001 | ||||||||||
| AN436 | AUG | 24/04/2014 | MGA94_50 | 7706750 | 498750 | 0.002 | 15.20 | 0.07 | 0.33 | 0.78 | 28 | 18 | 716 | 62 | -5 | 31 |
| AN437 | AUG | 24/04/2014 | MGA94_50 | 7706750 | 498850 | -0.001 | ||||||||||
| AN438 | AUG | 24/04/2014 | MGA94_50 | 7706750 | 498950 | 0.002 | ||||||||||
| AN439 | AUG | 24/04/2014 | MGA94_50 | 7706750 | 499050 | 0.003 | ||||||||||
| AN440 | AUG | 24/04/2014 | MGA94_50 | 7706750 | 499150 | 0.003 | ||||||||||
| AN441 | AUG | 24/04/2014 | MGA94_50 | 7706750 | 499250 | 0.002 | 13.70 | 0.08 | 0.32 | 1.18 | 33 | 24 | 1650 | 64 | 7 | 31 |
| AN442 | AUG | 24/04/2014 | MGA94_50 | 7706750 | 499350 | 0.002 | ||||||||||
| AN443 | AUG | 24/04/2014 | MGA94_50 | 7706750 | 499450 | 0.002 | ||||||||||
| AN444 | AUG | 24/04/2014 | MGA94_50 | 7706750 | 499550 | 0.003 | ||||||||||
| AN450 | AUG | 24/04/2014 | MGA94_50 | 7706850 | 498150 | 0.005 | ||||||||||
| AN451 | AUG | 24/04/2014 | MGA94_50 | 7706850 | 498250 | 0.005 |
Cape Lambert Resources Limited June 2014 Quarterly Report
Page 16 of 21
ASX Announcement Quarterly Report Period Ended 30 June 2014
September September
| SAMPLE LOCATION | SAMPLE LOCATION | SAMPLE LOCATION | SAMPLE LOCATION | SAMPLE LOCATION | ARM133 Lab Method | ARM133 Lab Method | ARM133 Lab Method | ARM133 Lab Method | ARM133 Lab Method | ARI133 Lab Method | ARI133 Lab Method | ARI133 Lab Method | ARI133 Lab Method | ARI133 Lab Method | ARI133 Lab Method | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sample | NAT | Au | As | Ag | Sn | Sb | Cu | Co | Mn | Ni | Pb | Zn | ||||
| ID | **Type ** | Date | Grid ID | North | East | **ppm ** | **ppm ** | **ppm ** | **ppm ** | **ppm ** | **ppm ** | **ppm ** | **ppm ** | **ppm ** | **ppm ** | **ppm ** |
| AN452 | AUG | 24/04/2014 | MGA94_50 | 7706850 | 498350 | 0.003 | ||||||||||
| AN453 | AUG | 24/04/2014 | MGA94_50 | 7706850 | 498450 | 0.006 | ||||||||||
| AN454 | AUG | 24/04/2014 | MGA94_50 | 7706850 | 498550 | 0.002 | 37.80 | 0.11 | 0.47 | 1.12 | 41 | 24 | 839 | 79 | 7 | 57 |
| AN455 | AUG | 24/04/2014 | MGA94_50 | 7706850 | 498650 | 0.003 | ||||||||||
| AN456 | AUG | 24/04/2014 | MGA94_50 | 7706850 | 498750 | 0.004 | ||||||||||
| AN457 | AUG | 24/04/2014 | MGA94_50 | 7706850 | 498850 | 0.003 | ||||||||||
| AN458 | AUG | 24/04/2014 | MGA94_50 | 7706850 | 498950 | 0.004 | 12.80 | 0.07 | 0.31 | 0.86 | 28 | 18 | 777 | 63 | -5 | 27 |
| AN459 | AUG | 24/04/2014 | MGA94_50 | 7706850 | 499050 | 0.002 | ||||||||||
| AN460 | AUG | 24/04/2014 | MGA94_50 | 7706850 | 499150 | 0.003 | ||||||||||
| AN461 | AUG | 24/04/2014 | MGA94_50 | 7706850 | 499250 | |||||||||||
| AN462 | AUG | 24/04/2014 | MGA94_50 | 7706850 | 499350 | 0.003 | ||||||||||
| AN463 | AUG | 24/04/2014 | MGA94_50 | 7706850 | 499450 | 0.002 | ||||||||||
| AN464 | AUG | 24/04/2014 | MGA94_50 | 7706850 | 499550 | 0.002 | 18.80 | 0.05 | 0.26 | 1.14 | 46 | 22 | 1560 | 68 | 7 | 33 |
| AN465 | AUG | 24/04/2014 | MGA94_50 | 7706200 | 496750 | 0.075 | 17.30 | 0.04 | 0.36 | 0.40 | 56 | 27 | 983 | 169 | 6 | 41 |
| AN466 | AUG | 24/04/2014 | MGA94_50 | 7706200 | 496650 | 0.016 | ||||||||||
| AN467 | AUG | 24/04/2014 | MGA94_50 | 7706200 | 496550 | 0.012 | ||||||||||
| AN468 | AUG | 24/04/2014 | MGA94_50 | 7705730 | 498700 | 0.010 | ||||||||||
| AN469 | AUG | 24/04/2014 | MGA94_50 | 7705730 | 498600 | 0.009 | ||||||||||
| AN470 | AUG | 24/04/2014 | MGA94_50 | 7705600 | 498750 | 0.015 | 267.00 | 0.37 | 0.20 | 4.63 | 42 | 27 | 267 | 213 | -5 | 25 |
| AN471 | AUG | 24/04/2014 | MGA94_50 | 7705600 | 498650 | 0.008 | ||||||||||
| AN472 | AUG | 24/04/2014 | MGA94_50 | 7705600 | 498550 | 0.012 | ||||||||||
| AN473 | AUG | 24/04/2014 | MGA94_50 | 7705600 | 498450 | 0.007 | ||||||||||
| AN474 | AUG | 24/04/2014 | MGA94_50 | 7705600 | 498350 | 0.008 | ||||||||||
| AN475 | AUG | 24/04/2014 | MGA94_50 | 7705250 | 497400 | 0.007 | 8.60 | 0.14 | 0.79 | 0.32 | 54 | 35 | 1150 | 154 | 11 | 49 |
| AN476 | AUG | 24/04/2014 | MGA94_50 | 7705300 | 497450 | 0.006 | ||||||||||
| AN477 | AUG | 24/04/2014 | MGA94_50 | 7705300 | 497400 | 0.003 | ||||||||||
| AN478 | AUG | 24/04/2014 | MGA94_50 | 7705300 | 497350 | 0.006 | 7.50 | 0.06 | 0.62 | 0.26 | 57 | 35 | 1020 | 146 | 9 | 40 |
| AN479 | AUG | 24/04/2014 | MGA94_50 | 7705350 | 497400 | 0.022 | ||||||||||
| AN480 | AUG | 24/04/2014 | MGA94_50 | 7705100 | 496750 | 0.011 | ||||||||||
| AN481 | AUG | 24/04/2014 | MGA94_50 | 7705100 | 496650 | 0.010 | ||||||||||
| AN482 | AUG | 24/04/2014 | MGA94_50 | 7705100 | 496570 | 0.016 | ||||||||||
| AN483 | AUG | 24/04/2014 | MGA94_50 | 7704990 | 496550 | 0.010 | 8.10 | 0.05 | 0.56 | 0.23 | 32 | 24 | 852 | 83 | 9 | 28 |
| ANRC1 | ROCK | 24/04/2014 | MGA94_50 | 7706180 | 496600 | 0.007 | ||||||||||
| ANRC2 | ROCK | 24/04/2014 | MGA94_50 | 7706210 | 496550 | 0.011 | 1.50 | 0.04 | -0.05 | 0.04 | 49 | 68 | 23500 | 86 | -5 | 22 |
| ANRC3 | ROCK | 24/04/2014 | MGA94_50 | 7706300 | 496800 | 0.013 | 51.80 | 0.07 | -0.05 | 0.85 | 16 | 8 | 281 | 76 | -5 | 14 |
| ANRC4 | ROCK | 24/04/2014 | MGA94_50 | 7706160 | 497250 | 0.049 | 204.00 | 0.07 | -0.05 | 1.18 | 236 | 98 | 1820 | 474 | 12 | 327 |
| ANRC5 | ROCK | 24/04/2014 | MGA94_50 | 7706160 | 497380 | 0.014 | ||||||||||
| ANRC6 | ROCK | 24/04/2014 | MGA94_50 | 7706370 | 498800 | 0.003 |
Note: ARM133 Lab Method = ICP-MS after Aqua Regia ARI133 Lab Method = ICP-AES after Aqua Regia
Cape Lambert Resources Limited June 2014 Quarterly Report
Page 17 of 21
ASX Announcement Quarterly Report Period Ended 30 June 2014
September
Table 2: Mt Anketell Auger JORC information.
JORC Code, 2012 Edition – Table 1 report
Section 1 Sampling Techniques and Data
| (Criteria in this section | (Criteria in this section | applyto all succeedingsections.) | ||
|---|---|---|---|---|
| Criteria | JORC Code explanation | Commentary | ||
| Sampling | | Nature and quality of sampling (eg cut channels, random chips, or specific specialised | | Auger sampling |
| techniques | industry standard measurement tools appropriate to the minerals under investigation, | | 1kg samples taken from each vertical meter directly from the auger flights. | |
| such as down hole gamma sondes, or handheld XRF instruments, etc). These | | Total down hole composite taken for preliminary assay. | ||
| examples should not be taken as limiting the broad meaning of sampling. | | Samples sent to SGS in Perth for analysis by ICP-MS and ICP-AES after Aqua Regia | ||
| | Include reference to measures taken to ensure sample representivity and the | |||
| appropriate calibration of any measurement tools or systems used. | ||||
| | 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 | |||
| (eg ‘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 (eg submarine nodules) may | ||||
| warrant disclosure of detailed information. | ||||
| Drilling | | Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, | | Continuous flight solid Auger 85mm OD, 1.5m long rods. |
| techniques | Bangka, sonic, etc) and details (eg 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). _ | ||||
| Drill sample | | Method of recording and assessing core and chip sample recoveries and results | | Not applicable |
| recovery | assessed. | |||
| | Measures taken to maximise sample recovery and ensure representative nature of the | |||
| samples. | ||||
| | Whether a relationship exists between sample recovery and grade and whether sample | |||
| bias may have occurred due topreferential loss/gain of fine/coarse material. | ||||
| Logging | | Whether core and chip samples have been geologically and geotechnically logged to a | | Logging included a geological description of the rock type sampled |
| level of detail to support appropriate Mineral Resource estimation, mining studies and | | The logging is entirely qualitative. | ||
| metallurgical studies. | ||||
| | Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) | |||
| photography. | ||||
| | The total length andpercentage of the relevant intersections logged. | |||
| Sub-sampling | | If core, whether cut or sawn and whether quarter, half or all core taken. | | Not applicable |
| techniques and | | If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or | ||
| sample | dry. | |||
| preparation | | For all sample types, the nature, quality and appropriateness of the sample preparation | ||
| technique. | ||||
| | Quality controlprocedures adopted for all sub-sampling stages to maximise |
Cape Lambert Resources Limited June 2014 Quarterly Report
Page 18 of 21
ASX Announcement Quarterly Report Period Ended 30 June 2014
September September
| Criteria | JORC Code explanation | JORC Code explanation | Commentary | Commentary |
|---|---|---|---|---|
| representivity of samples. | ||||
| | 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. | ||||
| | Whether sample sizes are appropriate to thegrain size of the material being sampled. | |||
| Quality of assay | | The nature, quality and appropriateness of the assaying and laboratory procedures | | Assays done by SGS in Perth for analysis by ICP-MS and ICP-AES after Aqua Regia |
| data and | used and whether the technique is considered partial or total. | | Quality control procedures for the rock chip assays were followed via internal SGS | |
| laboratory tests | | For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters | protocols. | |
| used in determining the analysis including instrument make and model, reading times, | ||||
| calibrations factors applied and their derivation, etc. | ||||
| | Nature of quality control procedures adopted (eg standards, blanks, duplicates, | |||
| external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) | ||||
| andprecision have been established. | ||||
| Verification of | | The verification of significant intersections by either independent or alternative | | Duplicate samples and lab standards used. |
| sampling and | company personnel. | |||
| assaying | | The use of twinned holes. | ||
| | Documentation of primary data, data entry procedures, data verification, data storage | |||
| (physical and electronic) protocols. | ||||
| | Discuss any adjustment to assay data. | |||
| Location of data | | Accuracy and quality of surveys used to locate drill holes (collar and down-hole | | Sample locations have been recorded on a handheld GPS. |
| points | surveys), trenches, mine workings and other locations used in Mineral Resource | |||
| estimation. | ||||
| | Specification of the grid system used. | |||
| | Quality and adequacy of topographic control. | |||
| Data spacing and | |
Data spacing for reporting of Exploration Results. | | Combination of 100m x 100m and 100m x 50m |
| distribution | | Whether the data spacing and distribution is sufficient to establish the degree of | | Samples composited downhole for entire hole for preliminary assay. |
| geological and grade continuity appropriate for the Mineral Resource and Ore Reserve | ||||
| estimation procedure(s) and classifications applied. | ||||
| | Whether sample compositing has been applied. | |||
| Orientation of | | Whether the orientation of sampling achieves unbiased sampling of possible structures | | Auger lines orientated perpendicular to strike of the general quartz vein trend direction . |
| data in relation to | and the extent to which this is known, considering the deposit type. | |||
| geological | | If the relationship between the drilling orientation and the orientation of key mineralised | ||
| structure | structures is considered to have introduced a sampling bias, this should be assessed | |||
| and reported if material. | ||||
| Sample security | | The measures taken to ensure sample security. | | Chain of custody was managed by Cape Lambert Resources until samples were |
| delivered to SGS in Perth. | ||||
| Audits or reviews | |
The results of any audits or reviews of sampling techniques and data. | | Not applicable at this stage. |
Cape Lambert Resources Limited June 2014 Quarterly Report
Page 19 of 21
ASX Announcement Quarterly Report Period Ended 30 June 2014
September September
Section 2 Reporting of Exploration Results
| Section 2 Reporting of Exploration Results | Section 2 Reporting of Exploration Results | Section 2 Reporting of Exploration Results | ||
|---|---|---|---|---|
| (Criteria listed in theprecedingsection also applyto this section.) | ||||
| Criteria | JORC Code explanation | Commentary | ||
| Mineral tenement | |
Type, reference name/number, location and ownership including agreements or | | All samples taken from the Mt Anketell Project area on E47/1493 held 100% by Mt |
| and land tenure | material issues with third parties such as joint ventures, partnerships, overriding | Anketell Pty Ltd which is a wholly owned subsidiary of Cape Lambert Resources. | ||
| status | royalties, native title interests, historical sites, wilderness or national park and environmental settings. |
| The tenement is in good standing. | |
| | 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. | ||||
| Exploration done | | Acknowledgment and appraisal of exploration by other parties. | | Unknown |
| by other parties | ||||
| Geology | | Deposit type, geological setting and style of mineralisation. | | Estuarine salt lake muds and sediments overlying mineralised quartz veins within an |
| ultramafic schist amongst occasional gabbroic intrusions. | ||||
| Drill hole | | A summary of all information material to the understanding of the exploration results | | See attached table. |
| Information | including a tabulation of the following information for all Material drill holes: | |||
oeasting and northing of the drill hole collar |
||||
oelevation or RL (Reduced Level – elevation above sea level in metres) of the drill |
||||
| hole collar | ||||
odip and azimuth of the hole |
||||
odown hole length and interception depth |
||||
ohole length. |
||||
| | 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. | ||||
| Data aggregation | |
In reporting Exploration Results, weighting averaging techniques, maximum and/or | | Not applicable |
| methods | minimum grade truncations (eg cutting of high grades) and cut-off grades are usually | |||
| Material and should be stated. | ||||
| | 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. | ||||
| | The assumptions used for any reporting of metal equivalent values should be clearly | |||
| stated. | ||||
| Relationship | | These relationships are particularly important in the reporting of Exploration Results. | | Not applicable |
| between | | If the geometry of the mineralisation with respect to the drill hole angle is known, its | ||
| mineralisation | nature should be reported. | |||
| widths and intercept lengths |
| If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’). |
||
| Diagrams | | Appropriate maps and sections (with scales) and tabulations of intercepts should be | | See Figure 5 attached |
| included for any significant discovery being reported These should include, but not be | ||||
| limited to aplan view of drill hole collar locations and appropriate sectional views. | ||||
| Balanced | | Where comprehensive reporting of all Exploration Results is not practicable, | | All results have been reported |
| reporting | representative reporting of both low and high grades and/or widths should be practiced |
Cape Lambert Resources Limited June 2014 Quarterly Report
Page 20 of 21
September September
ASX Announcement Quarterly Report Period Ended 30 June 2014
| Criteria | JORC Code explanation | JORC Code explanation | Commentary | Commentary |
|---|---|---|---|---|
| to avoid misleading reporting of Exploration Results. | ||||
| Other substantive | |
Other exploration data, if meaningful and material, should be reported including (but not | |
Not applicable |
| exploration data | 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. | ||||
| Further work | | The nature and scale of planned further work (eg tests for lateral extensions or depth | | None planned |
| extensions or large-scale step-out drilling). | ||||
| | Diagrams clearly highlighting the areas of possible extensions, including the main | |||
| geological interpretations and future drilling areas, provided this information is not | ||||
| commercially sensitive. |
Cape Lambert Resources Limited June 2014 Quarterly Report
Page 21 of 21
Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report
Rule 5.5
Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10, 01/05/2013
Name of entity
Cape Lambert Resources Limited
ABN 71 095 047 920
Quarter ended (“current quarter”) 30 June 2014
Consolidated statement of cash flows
| Cash flows related to operating activities 1.1 Receipts from product sales and related debtors 1.2 Payments for (a) exploration & evaluation (b) development (c) production (d) administration 1.3 Dividends received 1.4 Interest and other items of a similar nature received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Other (provide details if material) Net Operating Cash Flows |
Current quarter $A’000 |
Year to date (12 months) $A’000 |
|---|---|---|
| - (3,607) - - (1,421) - 217 - - 76 |
- (13,196) - - (5,762) - 886 (27) - 382 |
|
| (4,735) | (17,717) | |
| Cash flows related to investing activities 1.8 Payment for purchases of: (a) prospects (b) equity investments (c) other fixed assets 1.9 Proceeds from sale of: (a) prospects (b) equity investments (c) other fixed assets (d) controlled entity 1.10 Loans to other entities 1.11 Loans repaid by other entities 1.12 Other: Cash backing security for performance / other bonds & bank guarantees released Other: Payment of transaction related and business development costs Other: Cash received on acquisition of subsidiary Net investing cash flows |
- (350) (1) - 465 - - (850) - 2,223 (1,619) 701 |
- (1,324) (105) - 13,626 - 11,504 (3,766) 1,000 7,895 (3,421) 701 |
| 569 | 26,110 |
- See chapter 19 for defined terms.
01/05/2013 Appendix 5B Page 1
Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report
| 1.13 Total operating and investing cash flows (brought forward) |
(4,166) | 8,393 |
|---|---|---|
| Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc. 1.15 Proceeds from sale of forfeited shares 1.16 Proceeds from borrowings 1.17 Repayment of borrowings 1.18 Dividends paid 1.19 Other: On-market buy back Net financing cash flows |
- - - - - (2,679) |
- - - - - (4,929) |
| (2,679) | (4,929) | |
| Net increase (decrease) in cash held 1.20 Cash at beginning of quarter/year to date 1.21 Exchange rate adjustments to item 1.20 1.22 Cash at end ofquarter |
(6,845) 27,339 (3) |
3,464 17,034 (7) |
| 20,491 | 20,491 |
Payments to directors of the entity, associates of the directors, related entities of the entity and associates of the related entities
| 1.23 1.24 |
Aggregate amount of payments to the parties included in item 1.2 Aggregate amount of loans to the parties included in item 1.10 |
Current quarter $A'000 |
|---|---|---|
| 214 | ||
| - | ||
| 1.25 | Explanation necessaryfor an understandingof the transactions | |
| $214,000 (excluding GST) payment of executive and non-executive director fees. |
Non-cash financing and investing activities
| 2.1 2.2 |
Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows |
|---|---|
| N/A | |
| Details of outlays made by other entities to establish or increase their share in projects in which the reportingentityhas an interest |
|
| N/A |
- See chapter 19 for defined terms.
Appendix 5B Page 2
01/05/2013
Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
Financing facilities available
Add notes as necessary for an understanding of the position.
| Amount available | Amount used | ||
|---|---|---|---|
| $A’000 | $A’000 | ||
| 3.1 | Loan facilities | - | - |
| 3.2 | Credit standby arrangements | - | - |
Estimated cash outflows for next quarter
| 4.1 4.2 4.3 4.4 |
Exploration and evaluation Development Production Administration |
$A’000 |
|---|---|---|
| 3,500 | ||
| - | ||
| - | ||
| 1,500 | ||
| Total | 5,000 |
-
4.1 Exploration and evaluation
-
4.2 Development
-
4.3 Production
-
4.4 Administration
Reconciliation of cash
| Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows. |
Current quarter $A’000 |
Previous quarter $A’000 |
|---|---|---|
| 5.1 Cash on hand and at bank 5.2 Deposits at call 5.3 Bank overdraft 5.4 Other (provide details) |
5,491 | 1,339 |
| 15,000 | 26,000 | |
| - | - | |
| - | - | |
| Total: cash at end of quarter(item 1.22) | 20,491 | 27,339 |
- See chapter 19 for defined terms.
01/05/2013 Appendix 5B Page 3
Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report
Changes in interests in mining tenements and petroleum tenements
| 6.1 Interests in mining tenements and petroleum tenements relinquished, reduced or lapsed 6.2 Interests in mining tenements and petroleum tenements acquired or increased |
Tenement reference and location |
Nature of interest (note(2)) |
Interest at beginning ofquarter |
Interest at end of quarter |
|---|---|---|---|---|
| N/A | ||||
| N/A |
Issued and quoted securities at end of current quarter Description includes rate of interest and any redemption or conversion rights together with prices and dates.
| Total number | Number quoted | Issue price per security (see note3) (cents) |
Amount paid up per security (see note3) (cents) |
|
|---|---|---|---|---|
| 7.1 Preference +securities (description) 7.2 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs, redemptions |
- | - | ||
| 7.3 +Ordinary securities 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs |
634,727,857 | 634,727,857 | ||
| - (24,564,880) |
- (24,564,880) |
|||
| 7.5 +Convertible debt securities (description) |
- | - |
- See chapter 19 for defined terms.
Appendix 5B Page 4
01/05/2013
Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
| 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted |
||||
|---|---|---|---|---|
| 7.7 Options (description and conversion factor) 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter |
500,000 | 500,000 | Exercise price $0.15 |
Expiry date 30 Sept 2015 |
| - | - | |||
| - | - | |||
| - | - | |||
| 7.11 Debentures (totals only) |
- | - | ||
| 7.12 Unsecured notes(totals only) |
- | - |
- See chapter 19 for defined terms.
01/05/2013 Appendix 5B Page 5
Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report
Compliance statement
-
1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 5).
-
2 This statement does /does not* (delete one) give a true and fair view of the matters disclosed.
Sign here: ........................................... (Company secretary)
Date: 30 July 2014
Print name: Melissa Chapman
Notes
-
1 The quarterly report provides a basis for informing the market how the entity’s activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.
-
2 The “Nature of interest” (items 6.1 and 6.2) includes options in respect of interests in mining tenements and petroleum tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement or petroleum tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.
-
3 Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities .
-
4 The definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report.
-
5 Accounting Standards ASX will accept, for example, the use of International Financial Reporting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.
== == == == ==
- See chapter 19 for defined terms.
Appendix 5B Page 6
01/05/2013