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KINGSROSE MINING LIMITED — Interim / Quarterly Report 2013
Oct 25, 2012
65202_rns_2012-10-25_84a747d0-a415-49d2-a04f-579f0b1b4efc.pdf
Interim / Quarterly Report
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**KINGSROSE
MINING
LIMITED
|
QUARTERLY
REPORT For
the
period
ending
30
September
2012**
**KEY
POINTS**
Corporate Snapshot (as at
30/09/12)
ASX
Code: KRM Share
Price: $1.17 Issued
Capital: 289,318,617
(KRM) Listed
Options: 1,206,413
(KRMO) Market
Capital: $338.5m Cash
&
Bullion: $10.7m
Board & Management
John
Morris Chairman Chris
Start Managing
Director Tim
Spencer Finance
Director Bill
Phillips Director Andrew
Spinks Director
Company Highlights
-
§ Flagship
project
85%
owned
Way
Linggo high
grade
Gold
&
Silver
Project
in Sumatra -
§ 2012
production
37,650
ounces
at
cash cost
US$254
(after
silver
credits) -
§ Talang
Santo
resource
increase
by
73% -
§ Extensional
and
resource
definition drilling
on
going -
§ Maiden
4c
dividend
declared
in
May 2012
–
paid
on
4
July
2012
JORC RESOURCES WAY LINGGO PROJECT
Way
Linggo
mine:
527,480
@
11.71/t
Au
for
198,380
oz 527,480
@135.05/t
Ag
for
2,288,326
oz
Talang
Santo
mine
:
- 1,660,980t
@
5.39g/t
Au
for
166,400
oz 1,660,980t
@16.77g/t
Ag
for
894,951oz
Total Resource:
-
2.2Mt
@
6.91/t
Au
for
485,869
oz -
2.2Mt
@
45.28
g/t
Ag
for
3,183,278
oz -
Ø Way
Linggo
Gold
Project
(85%
KRM)
produced
3,683
oz
of
gold
and
34,416
oz
of
silver (or
4,238
oz
gold
equivalent
for
the
Quarter)
| Jun 12 Qtr | Sept 12 Qtr | |
|---|---|---|
| Gold – oz | 8,763 | 3,683 |
| Silver – oz | 100,427 | 34,416 |
| Gold Equivalent – oz* | 10,437 | 4,238 |
-
Gold
equivalent
oz
was
calculated
by
dividing
the
silver
ounces
by
the
silver:gold
price
ratio
(average
prices -
received)
added
to
the
gold
ounces
produced. -
Ø Cash
costs
restricted
to
$484/oz
($258/oz
in
June
Quarter)
with
cost-‐cutting measures
partially
offsetting
impact
of
lower
production. -
Ø Total
Project
Resource
(Way
Linggo
mine
plus
Talang
Santo
mine)
increased
by
25% to
485,869oz
gold
and
3,183,278
silver. -
Ø Talang
Santo
Resource
increased
73%
to
287,489oz
gold
and
894,951oz
silver. -
Ø Talang
Santo
operations
suspended
in
September
following
fatality. -
Ø Production
at
Talang
Santo
expected
to
resume
in
November
with
accelerated
ramp-‐ up
scheduled
to
hit
targeted
annualised
rate
by
end
of
March
Quarter, -
Ø Total
Project
production
forecast
to
be
~30-‐35,000oz
in
FY13. -
Ø Cash
and
bullion
of
$10.7m
at
30
September -
Ø Drilling
results
during
this
quarter
support
the
continuity
of
the
high
grade
veins
at Talang
Santo
with
DDH-‐388
intercepting
2.5m
@
11.2g/t
gold
and
58.3
g/t
silver
from 294.25m
down
hole. -
Ø Numerous
high-‐grade
intercepts
were
received
from
the
Linggo-‐Sapta
area
including-
DDH
356 0.6m
@
15.9g/t
Au;
147.9g/t
Ag
from
325.55m -
DDH
367 0.6m
@
8.49g/t
Au;
50.3
g/t
Ag
from
101.70m
and; 1.0m
@
7.47g/t
Au;
37.6
g/t
Ag
from
122.10m -
DDH
369 1m
@9.5g/t
Au;
56.5
g/t
Ag
from
14.70m
and;- 1.2m
@
9.5g/t
Au
&
56.5g/t
Ag
from
117.50m
- 1.2m
-
CONTACT DETAILS
Suite
9,
Level
2,
12
–
14
Thelma
Street West
Perth
WA
6005 T
+
61
8
9486
1149 F
+
61
8
9486
1151
-
E
[email protected] W www.kingsrosemining.com.au -
DDH
383 0.35m
@
29.32g/t
Au;
90g/t
Ag
from
60.9m
and;-
1.9m
@
4.87g/t
Au;
32.3
g/t
Ag
from
96.8m
and; -
0.65m
@15.1g/t
Au;
233.1g/t
Ag
from
241.15
-
-
Ø Appointment
of
experienced
geologist
Mr
Andrew
Spinks
to
the
Board
as
an Independent
Non-‐Executive
Director
following
the
resignation
of
Mr
Peter
Cook
as
a Non-‐Executive
Director.
www.kingsrosemining.com.au
1
Quarterly
Activities
Report
for
the
period
ending
30
September
2012
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==> picture [82 x 37] intentionally omitted <==
WAY LINGGO PROJECT (85% KRM)
**OPERATIONS
SUMMARY**
The
table
below
summarises
the
Way
Linggo
Project
performance
for
the
Quarter:
==> picture [472 x 597] intentionally omitted <==
www.kingsrosemining.com.au
2
Quarterly
Activities
Report
for
the
period
ending
30
September
2012
==> picture [27 x 806] intentionally omitted <==
==> picture [82 x 36] intentionally omitted <==
==> picture [269 x 162] intentionally omitted <==
Project Overview
Production
levels
at
the
Way
Linggo
mine decreased
as
anticipated
as
several
stopes
were completed
and
a
greater
proportion
of
ore
was sourced
from
sublevel
development.
The
projected
ramp-‐up
of
mining
activity
at
Talang Santo
was
delayed
due
to
water
ingress
during development
of
the
underlay
shaft.
This
issue
was resolved
and
development
continued
when
the appropriate
pumps
were
sourced
and
installed
to allow
development
to
continue.
The
project
was
then
impacted
by
an
accident
in
the
Talang
Santo
mine
on
September
13
that
resulted
in
the
death
of
a mineworker.
As
a
result
of
the
accident,
operations
at
the
Talang
Santo
mine
has
been
temporarily
suspended.
Following
discussions
with
the
Indonesian
Mines
Department,
Kingsrose
expects
operations
to
resume
next
month.
In anticipation
of
this,
the
Company
has
been
making
preparations
to
accelerate
development
at
Talang
Santo
to
offset
in part
the
delays
caused
by
the
suspension.
These
measures
are
expected
to
see
Talang
Santo
reach
its
targeted
production
rate
by
the
end
of
the
March
Quarter, 2013.
Way Linggo Mine
The
Way
Linggo
mine
produced
10,868
tonnes
of
ore
at
a
grade
of
10.3g/t
gold
and
103
g/t
silver
during
the
Quarter. As
anticipated,
mined
tonnage
decreased
with
slower
mining
rates
due
to
old
stope
backfilling
activities.
The
backfill
is used
to
support
oxidised
zones
to
assist
in
remnant
mining
and
pillar
recovery.
Development
of
the
new
4
levels
continued
in
ore
and
will
allow
production
from
the
deeper
parts
of
the
mine.
It
is
anticipated
that
mining
rates
from
the
Way
Linggo
mine
will
continue
at
the
current
levels
and
that
the
proportion of
ore
sourced
from
Talang
Santo
will
significantly
increase
and
surpass
Way
Linggo.
Talang Santo Mine
Development
on
2
level
continued
during
the
Quarter
with
access
provided
via
the
adit
and
internal
winze. Development
in
ore
resulted
in
a
total
of
3,401
t
of
ore
mined
at
a
grade
of
7.1
g/t
gold
and
22
g/t
of
silver.
There
were
delays
in
the
completion
of
the
underlay
shaft
due
to
water
ingress
into
the
shaft,
which,
hampered activities
until
appropriate
pumps
could
be
sourced
and
installed.
The
shaft
has
now
been
completed
to
a
final
depth
of 100m
and
the
level
is
being
set
up
for
development
on
ore.
It
is
anticipated
that
ore
will
be
sourced
from
development on
the
3
level
within
a
month
of
the
temporary
mine
suspension
lifted.
During
the
Quarter
and
in
the
final
stages
of
shaft
development,
the
shaft
intersected
the
Mawi
vein.
Face
sampling
on the
East
panel
returned
1.4m
@
56.5
g/t
gold
and
156
g/t
silver
while
sampling
on
the
West
panel
returned
1.8m
@ 24.2
g/t
gold
and
65
g/t
silver.
These
results
are
shown
along
with
the
face
sampling
results
for
the
hanging
wall
vein from
last
Quarter
and
the
closest
drill
hole
intersections
are
shown
in
Figure
1.
As
Kingsrose
has
previously
advised,
the
wash-‐out
of
gold/silver
bearing
acrylic
altered
clays
during
the
drilling
and
core preparation
process
make
estimation
of
grade
challenging
with
the
processing
of
development
ore
ultimately
providing the
most
accurate
grade
estimation.
www.kingsrosemining.com.au
3
Quarterly
Activities
Report
for
the
period
ending
30
September
2012
==> picture [27 x 806] intentionally omitted <==
==> picture [82 x 36] intentionally omitted <==
Exposure
of
the
Mawi
Veins
to
date
revealed
significant
clay
bands
within
the
quartz
lodes
that
were
not
present (potentially
washed
out)
in
the
core
extracted
during
the
diamond
drilling
process.
Face
sampling
results
have
also returned
higher
than
expected
grades
than
originally
indicated
from
diamond
drilling
intercepts.
This
is
similar
to
what occurred
at
Way
Linggo
and
is
considered
responsible
for
grade
overcalls
in
the
heavily
clay
altered
parts
of
that
ore system.
Whilst
it
is
still
too
early
to
draw
any
definitive
conclusions,
Kingsrose
is
encouraged
by
this
and
considers
it vindicates
its
decision
for
early
mine
development
at
Talang
Santo.
==> picture [429 x 567] intentionally omitted <==
Figure
1
–
Talang
Santo
mine
shaft
progress
www.kingsrosemining.com.au
4
Quarterly
Activities
Report
for
the
period
ending
30
September
2012
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==> picture [82 x 36] intentionally omitted <==
PROCESSING
Plant
throughput
for
the
Quarter
was
13,036
tonnes
at
a
head
grade
of
9.0
g/t
gold
and
89
g/t
silver.
Mill
throughput matched
mine
production
and
plant
mechanical
availability
remained
high
at
96.7%.
Metallurgical
recovery
rates
increased
again
with
95.0%
for
gold
and
87.8%
for
silver.
The
higher
recoveries
were
achieved with
the
lower
throughput
rates
providing
greater
circuit
residence
time
and
finer
grind
in
combination
with
the
operation of
the
new
PSA
oxygen
facility
and
the
6[th] CCD.
A
total
of
2,908
tonnes
of
ore
from
Talang
Santo
was
processed.
The
ore
was
blended
with
the
Way
Linggo
ore
as
it
was mined.
Gold
and
silver
recovery
were
not
affected
by
the
introduction
of
the
Talang
Santo
ore
which
supports
previous metallurgical
test
work
that
similar
metal
recovery
rates
to
Way
Linggo
ore
would
be
achieved
in
the
Way
Linggo processing
plant.
Gold
and
silver
production
for
the
Quarter
was
3,683
oz
of
gold
and
34,416
oz
of
silver
(4,238
oz
in
gold
equivalent).
==> picture [235 x 148] intentionally omitted <==
==> picture [242 x 148] intentionally omitted <==
EXPLORATION SUMMARY
During
the
Quarter
the
focus
of
exploration
activity
was
on:
-
Ø Completion
of
the
updated
Mineral
Resource
Statement. -
Ø Infill
and
extensional
drilling
at
Talang
Santo,
which
is
still
remains
open
in
all
directions. -
Ø Soil
sampling
at
Talang
Santo
South,
which
has
highlighted
an
anomalous
zone
as
a
target
for
future
drilling. -
Ø Extensional
drilling
at
Linggo-‐Sapta,
which
continues
to
return
positive
drill
results.
The
following
table
summarises
key
physical
activity
statistics
for
the
quarter:
| Exploration | |
|---|---|
| Diamond drilling | 14,347m |
| Stream traverses | 22,948m |
| Ridge and spurs sample traverses | 14,849 |
| Drill core samples assayed | 4,090 |
| Rock chipsamples assayed | 49 |
| BLEG samples assayed | 0 |
www.kingsrosemining.com.au
5
Quarterly
Activities
Report
for
the
period
ending
30
September
2012
==> picture [27 x 806] intentionally omitted <==
==> picture [82 x 36] intentionally omitted <==
**Updated
Mineral
Resource**
The
latest
total
JORC-‐compliant
Mineral
Resource
estimate
(as
at
June
30,
2012)
for
Talang
Santo
increased
by
73
per
cent to
287,489
ounces
of
gold
and
894,951
ounces
of
silver.
Furthermore,
over
59%
of
this
has
now
been
upgraded
into
the Indicated
category.
The
June
30,
2012
total
Mineral
Resource
for
the
Way
Linggo
mine
including
depletion
from
mining
and
an
allowance
for non-‐recoverable
blocks
contains
198,380
ounces
of
gold
and
2,288,326
ounces
of
silver.
The
total
Project
ounces
have
increased
by
25%
to
485,869
ounces
of
gold
and
3,183,278
ounces
of
silver
as
at
30
June 2012.
The
Mineral
Resource
(as
at
30
June,
2012)
by
category
is
summarised
below:
| Classification | Deposit | Tonnes | Au g/t | Ag g/t | Au ounces | Ag ounces |
|---|---|---|---|---|---|---|
| Measured | Way Linggo | 339,215 | 14.45 | 174.84 | 157,592 | 1,906,804 |
| Indicated | Way Linggo | 174,145 | 6.30 | 61.09 | 35,273 | 342,036 |
| Inferred | Way Linggo | 14,120 | 12.15 | 86.98 | 5,516 | 39,486 |
| SUB-TOTAL | Way Linggo | 527,480 | 11.71 | 135.05 | 198,380 | 2,288,326 |
| Indicated | Talang Santo | 863,625 | 6.19 | 16.25 | 171,873 | 451,200 |
| Inferred | Talang Santo | 797,335 | 4.51 | 17.31 | 115,616 | 443,751 |
| SUB-TOTAL | Talang Santo | 1,660,980 | 5.39 | 16.77 | 287,489 | 894,951 |
| GRAND TOTAL |
PROJECT | 2,188,460 | 6.91 | 45.24 | 485,869 | 3,183,278 |
Notes
-
The
figures
quoted
below
represent
the
geological
resource.
No
“Modifying
Factors”
have
been
applied
as
per
the
2004
edition
of
the Australian
Code
for
Reporting
of
Exploration
Results,
Mineral
Resources
and
Ore
Reserves
(“JORC
Code”). -
For
the
Way
Linggo
resource
estimation,
the
geology
model
was
formed
via
the
incorporation
of
geological
mapping,
production
face
sampling and
drill-‐hole
data.
In
the
main
Way
Linggo
zone,
grade
estimates
have
been
based
upon
development
data
only.
Outside
of
the
main
ore
body drill
hole
data
has
been
the
basis
of
grade
estimates.
For
the
Talang
Santo
resource
estimation,
the
geology
model
was
formed
via
the incorporation
of
geological
mapping,
face
production
sampling
and
drill
hole
data.
Talang
Santo
grade
estimates
have
been
based
upon development
and
drill
hole
data. -
The
void
files
used
to
deplete
the
respective
models
were
current
as
at
30
June -
The
Classified
Mineral
Resource
is
reported
above
a
2.5g/t
Au
cut-‐off
grade. -
A
top-‐cut
of
150.00g/t
Au
and
1,800g/t
Ag
was
used
during
estimation
at
Way
Linggo.
A
top-‐cut
of
25.00g/t
Au
and
75g/t
Ag
was
used
during estimation
at
Talang
Santo. -
At
Way
Linggo,
the
portion
of
the
resource
in
the
area
above
existing
min
development
north
of
10,050mN
is
considered
as
Measured.
Fans
of drilling
completed
to
circa
900mRL
allow
the
zone
between
the
current
base
of
mine
development
at
930mPL
and
900mRL
north
of
10,050mN to
be
considered
Indicated.
Drilling
to
the
north
of
current
development
also
allows
the
mineralisation
north
of
the
main
ore
body
to
be considered
Indicated.
The
mineralised
zones
to
the
south
of
10,050mN
are
currently
considered
Inferred
in
those
areas
which
have
not
been intersected
by
mine
development,
which
in
turn
are
considered
Indicated.
Mineralised
zones
peripheral
to
the
main
Way
Linggo
zone
are primarily
considered
Inferred. -
At
Talang
Santo
the
well-‐drilled
portion
of
the
primary
Mawi
Vein
and
its
two
300o
trending
footwall
structures
are
considered
Indicated.
The remainder
of
the
Mawi
Vein,
the
footwall
structures
and
all
other
peripheral
mineralised
zones
are
considered
Inferred. -
Following
a
critical
appraisal
of
all
Measured
resource
blocks
by
the
chief
Geologist
at
the
Way
Linggo
site,
a
decision
was
made
to
factor
the resource
down
by
15%
to
account
for
the
non-‐recoverability
of
mining
pillars. -
Note
that
small
discrepancies
may
have
occurred
due
to
rounding.
**Talang
Santo**
The
recent
high
grade
intersections
remain
open
in
all
directions
and
there
is
very
good
potential
for
the
discovery
of further
epithermal
gold
veins
and
systems
in
the
area.
www.kingsrosemining.com.au
6
Quarterly
Activities
Report
for
the
period
ending
30
September
2012
==> picture [27 x 806] intentionally omitted <==
==> picture [82 x 36] intentionally omitted <==
**Talang
Santo
-‐
Mawi
and
Mawi
West**
Resource
definition
drilling
continued
with
a
focus
on
the
westerly
and
easterly
extensions
to
the
Mawi
Vein.
As
reported in
the
previous
quarter,
the
most
westerly
hole
drilled
in
the
system
to
date
is
Hole
DDH-‐362
which
has
returned
two outstanding
intercepts;
-
1.8m
@
33.59
g/t
Au
&
17.0
g/t
Ag
from
27.1m
down
hole
and -
1.75m
@
19.11
g/t
Au
&
99.1
g/t
Ag
from
228.9m
down
hole.
Drilling
during
the
quarter
was
aimed
at
tracking
the
higher
grade
core
of
the
Central
and
Mawi
veins.
Results
indicated that
mineralization
continues
strongly
at
depth
and
down
plunge.
Better
intersections
recorded
during
this
quarter included:
(refer
to
Appendix
“A”
for
full
listing)
-
DDH-‐372 2.2m
@
3.96g/t
Au;
12.7g/t
Ag
from
124.55m -
DDH-‐377 1.65m
@
3.34g/t
Au;
4.12g/t
Ag
from
164.60m -
DDH-‐379 3m
@4.57g/t
Au;
23.8g/t
Ag
from
269.30m -
DDH-‐388 2.5m
@11.2g/t
Au;
58.3g/t
Ag
from
294.25m -
DDH-‐393 1.2m
@
4.37g/t
Au;
13.45
g/t
Ag
from
345.3m -
DDH-‐396 0.25m
@
14.88g/t
Au;
22.93g/t
Ag
from
261.6m
and;
1.7m
@
4.08g/t
Au;
7.91
g/t
Ag
from
261.6m
and; 0.95m
@
4.89
g/t
Au;
7.24g/t
Ag
from
314.9m
==> picture [485 x 343] intentionally omitted <==
Figure
2–
Talang
Santo
Long
Section
Mawi
Vein
(Central
&
West
targets)
www.kingsrosemining.com.au
7
Quarterly
Activities
Report
for
the
period
ending
30
September
2012
==> picture [27 x 806] intentionally omitted <==
==> picture [82 x 36] intentionally omitted <==
**Talang
Santo
South**
Talang
Santo
South
is
located
to
the
south
of
the
Talang
Santo
Central
area
and
to
date
has
only
been
subjected
to
early stage
reconnaissance
exploration.
This
early
work
outlined
outcropping
vein
structures
and
highlighted
the
area
as
a
target for
repeat
structures
similar
to
the
Mawi
vein
at
Talang
Santo.
During
the
quarter
exploration
was
advanced
further
with soil
sampling
with
results
recorded
up
to
40ppb
Au.
The
results
are
encouraging
and
highlight
the
area
as
a
target
for
future
drilling and the prospectivity for the whole area in general.
==> picture [533 x 377] intentionally omitted <==
Figure
3
–
Talang
Santo
Drill
Hole
Locations
**Linggo
– Sapta Prospect**
Linggo-‐Sapta
is
located
immediately
south-‐east
of
the
Way-‐Linggo
mine
(approximately
200m
away)
and
is
separated
by the
Semung
River.
It
is
considered
to
possibly
be
an
offset
southerly
extension
of
the
main
Way
Linggo
ore
system.
At
the prospect
a
number
of
narrow
sub-‐parallel
veins
have
been
outlined
over
a
strike
of
approximately
600
metres
and
a
depth of
300
metres.
Exploration
drilling
continued
to
define
the
presence
of
many
mineralized
veins.
Assay
results
confirmed the
potential
for
the
area
with
numerous
narrow
intervals
containing
gold
mineralization
with
assays
ranging
from
low
to very
high
grade.
www.kingsrosemining.com.au
8
Quarterly
Activities
Report
for
the
period
ending
30
September
2012
==> picture [27 x 806] intentionally omitted <==
==> picture [82 x 36] intentionally omitted <==
The
better
intervals
include:
-
DDH-‐356 0.6m
@
15.9g/t
Au;
147.9g/t
Ag
from
367.30m -
DDH-‐359 0.55m
@
8.74g/t
Au;
331.87g/t
Ag
from
121.25m -
DDH-‐360 0.50m
@
5.95g/t
Au;
45.7g/t
Ag
from
63.35m
and
0.4m
@
8.23g/t
Au;
80.0g/t
Ag
from
187.70m -
DDH-‐361 0.15m
@
18.9g/t
Au;
134.2
g/t
Ag
from
112.95m -
DDH-‐367 0.6m
@
8.49g/t
Au;
50.3
g/t
Ag
101.7m
and
1m
@
7.47g/t
Au;
37.6g/t
Ag
from
122.10m -
DDH-‐369 1m
@
9.5g/t
Au;
56.5g/t
Ag
from
14.70m
and
1.2m
@
9.23g/t
Au;
191.5g/t
Ag
from
117.50m -
DDH-‐373 0.3m
@
7.22g/t
Au;
2.09g/t
Ag
from
49m
and
0.85m
@
5.07g/t
Au;
29.3
g/t
Ag
from
119.45m -
DDH-‐375 1.5m
@
4.17g/t
Au;
11.5g/t
Ag
from
7.20m
and
0.1m
@
8.23g/t
Au;
20.4g/t
Ag
from
18.20m
and; -
0.2m
@
11.9g/t
Au;
93.3g/t
Ag
from
42m
and
0.2m
@
9.56g/t
Au;
219g/t
Ag
from
81.60m -
DDH-‐380 0.6m
@
5.45g/t
Au;
45.2g/t
Ag
from
1144.6m -
DDH-‐383 0.35m
@
29.32g/t
Au;
90g/t
Ag
from
60.9
and
1.9m
@
4.87g/t
Au;
32.3g/t
Ag
from
96.8m
and; 0.65m
@15.1g/t
Au;
233.1g/t
Ag
from
241.15m -
DDH-‐385 0.9m
@
5.64g/t
Au;
41.9g/t
Ag
from
55.1m
and
0.3m
@
16.7g/t
Au;
41.3g/t
Ag
from
197.3m
and ; 0.4m
@
6.27g/t
Au;
127g/t
Ag
from
262.3m -
DDH-‐394 1.5m
@
4.1g/t
Au;
4.74
Ag
from
34.5m
and
1.1m
@
5.19Aug/t;
3.17Ag
from
38.3m
and; -
1.3m
@
4.27g/t
Au;
1.93g/t
Ag
from
58m
and 0.1m
@
6.46g/t
Au;
49.53g/t
Ag
from
182.9m
==> picture [445 x 358] intentionally omitted <==
Figure
4
–
Linggo
Sapta
Drill
Hole
Locations
www.kingsrosemining.com.au
9
Quarterly
Activities
Report
for
the
period
ending
30
September
2012
==> picture [27 x 806] intentionally omitted <==
==> picture [82 x 36] intentionally omitted <==
CORPORATE
Board changes
On
22
August
2012,
the
Company
announced
the
appointment
of
Mr
Andrew
Spinks
as
a
Non-‐Executive
director
to
the Board.
Mr.
Spinks,
who
is
an
experienced
geologist,
holds
a
B.App.Sc
(Geology)
a
Grad.Dip
(Mining)
and
is
a
member
of
AusIMM. He
has
a
wealth
of
technical,
managerial
and
corporate
experience
gained
over
24
years
within
the
mining
industry
in
both Australia
and
overseas.
Previously,
Andrew
has
held
a
number
of
key
geological,
operational
and
managerial
roles, including
positions
with
Whim
Creek,
Dominion
Mining,
Plutonic
Resources,
Australian
Gold
Fields,
Black
Range
Minerals, Crescent
Gold
Limited
and
more
recently
with
Macarthur
Minerals
Limited.
Andrew
is
currently
a
director
of
ASX
listed Kibaran
Resources
Limited.
At
the
same
time,
the
Company
advised
that
Mr
Peter
Cook
had
resigned
as
a
director
of
the
Company
due
to
a
substantial increase
in
his
other
work
commitments.
Mr.
Cook
has
been
an
integral
part
of
the
Company’s
swift
transition
from explorer
to
producer,
initially
as
a
consultant
following
the
acquisition
of
the
Way
Linggo
project
in
2009
and
then
after
his appointment
as
a
Non-‐Executive
Director
in
October
2010.
Cash and bullion on hand at the end of the Quarter:
Cash $8.6m Bullion* $2.1m Total $10.7m
*Bullion
includes
unrefined
(filter
cake,
dore)
and
refined
gold
and
silver
Cash Reconciliation and Funding
The
cash
position
of
the
Group
decreased
from
$30.1
million
at
30
June
2012
to
$8.6
million
at
the
end
of
the
September Quarter
due
to:
-
Payments
related
to
the
maiden
dividend
paid
on
4
July
totaling
$12.6
million. -
Payments
of
provisional
income
tax
in
Indonesia
totaling
$3.6
million. -
Payments
for
exploration
activities
totaling
$4.4
million. -
Shortfall
in
gold
and
silver
production
as
explained
earlier
in
this
report.
Whilst
the
Company
expects
to
resume
operations
at
Talang
Santo
mine
in
November,
prudent
steps
are
being
taken
to ensure
that
the
Group
maintains
adequate
cash
reserves
to
continue
to
fund
and
accelerate
its
operational,
development and
exploration
strategies.
A
short
term
loan
facility
of
US$5,000,000
was
arranged
on
19
October
2012
with
Advance
Concept
Holdings
Pty
Ltd (“ACH”),
a
company
in
which
Mr
Phillips,
a
Non-‐Executive
director
of
the
Company,
is
associated.
The
terms
of
the
loan have
been
determined
on
an
arms-‐length
basis
with
the
principal
sum
and
all
outstanding
interest
repayable
from
either surplus
cashflow
exceeding
a
certain
amount
or
if
debt
or
equity
funding
is
arranged
with
another
party(s).
The
ACH
loan facility
had
not
been
drawn
down
as
at
the
date
of
publication
of
this
report.
www.kingsrosemining.com.au
10
Quarterly
Activities
Report
for
the
period
ending
30
September
2012
==> picture [27 x 806] intentionally omitted <==
==> picture [82 x 36] intentionally omitted <==
Securities
During
the
Quarter:
-
177,772
listed
options
were
exercised
for
a
total
consideration
of
$35,554.40. -
500,000
unlisted
options
were
issued
under
ESOP
to
an
employee
at
an
exercise
price
of
$1.26
each.
The employee
has
subsequently
resigned
and
as
the
options
had
not
vested,
they
were
cancelled
in
October 2012. -
100,000
unlisted
options
were
issued
under
ESOP
to
an
employee
at
an
exercise
price
of
$1.27
each.
The options
are
subject
to
six
months’
vesting
period
and
will
expire
on
14
February
At
the
end
of
the
Quarter
the
Company
had
the
following
securities
on
issue:
-
289,388,617
Fully
Paid
Ordinary
Shares. -
1,136,413
Listed
Options,
which
are
due
to
expire
on
31
December -
9,075,000
Unlisted
Options
–
various
expiry
dates.
==> picture [108 x 41] intentionally omitted <==
**CHRIS
START MANAGING
DIRECTOR**
26
October
2012
_**Competent
Person
Statement**_
The
information
in
this
report
that
relates
to
exploration
results, mineral
resources
and
ore
reserves
is
based
on
information compiled
by
Mr.
Andrew
Spinks,
B.App.Sc
(Geology),
Grad.Dip
(Mining)
and
is
a
member
of
AusIMM
who
is
a
Director
of
Kingsrose Mining
Limited.
Mr.
Spinks
has
sufficient
experience,
which
is
relevant
to
the
styles
of
mineralisation
and
types
of
deposits
and
to
the activity
he
is
undertaking
to
qualify
as
a
Competent
Person
as
defined
in
the
2004
edition
of
the
Australasian
Code
for
Reporting
of Exploration
Results,
Mineral
Resources
and
Ore
Reserves
(“JORC
Code”).
Mr.
Spinks
consents
to
the
inclusion
in
this
report
of
the matters
based
on
his
information
in
the
form
and
context
in
which
it
appears.
www.kingsrosemining.com.au
11
Quarterly
Activities
Report
for
the
period
ending
30
September
2012
==> picture [82 x 37] intentionally omitted <==
**APPENDIX
“A”**
All
significant
diamond
hole
intercepts
received
during
the
September
2012
Quarter. (Note:
significant
means
with
a
vein
that
assays
above
1g/t
gold)
| Hole No. | Prospect | N | E | RL | Dip / Azimuth |
Intercept | Depth From |
True Width |
|---|---|---|---|---|---|---|---|---|
| DDH-349 | Talang Linar | 15514 | 18560 | 1327 | -60/200 | 0.35 @ 14.88g/t Au / 42.24 g/t Ag | 325.55 | 0.30 |
| DDH-354 | Talang Linar | 15559 | 18493 | 1358 | -60/200 | 0.75m @ 2.42g/t Au / 2.41g/t Ag | 349.85 | 0.70 |
| 0.90m @ 1.52g/t Au / 7.14g/t Ag | 350.60 | 0.85 | ||||||
| 4.10m @ 1.08g/t Au / 20.30g/t Ag | 423.15 | 3.55 | ||||||
| (include 0.50m @ 4.37g/t Au / 63.30g/t Ag) | 424.75 | |||||||
| 0.65m @ 2.17g/t Au / 16.0g/t Ag | 454.45 | 0.42 | ||||||
| DDH-355 | Talang Linar | 15783 | 18565 | 1272 | -50/200 | 1.25m @ 0.56g/t Au / 11.00g/t Ag | 410.60 | 1.13 |
| (include 0.20m @ 1.36g/t Au / 39.50g/t Ag) | 411.40 | |||||||
| DDH-357 | Talang Santo | 15333 | 19256 | 1398 | -60/185 | 2.25m @ 7.11g/t Au / 31.30g/t Ag | 498.00 | 1.95 |
| (include 0.10m @ 13.20g/t Ag/127.90g/t Ag) | 498.80 | |||||||
| 0.25m @ 1.16g/t Au / 1.77g/t Ag | 503.70 | 0.18 | ||||||
| 0.85m @ 3.14g/t Au / 12.70g/t Ag | 509.10 | 0.65 | ||||||
| 0.70m @ 1.12g/t Au / 4.72g/t Ag | 512.65 | 0.39 | ||||||
| (include 0.30m @ 1.42g/t Au / 4.56g/t Ag) | 512.80 | |||||||
| 0.40m @ 1.79g/t Au / 14.40g/t Ag | 514.60 | 0.38 | ||||||
| DDH-362 | Talang Santo West | 14853 | 19568 | 1268 | -60/200 | 1.80m @ 33.59g/t Au; 17.00g/t Ag | 27.10 | 1.56 |
| 1.75m @ 19.11g/t Au; 99.10g/t Ag | 228.90 | 1.52 | ||||||
| DDH-363 | Talang Santo West | 15073 | 19636 | 1306 | -60/200 | 0.20m @ 6.21g/t Au / 4.88g/t Ag | 111.80 | 0.19 |
| 1.00m @ 0.40g/t Au / 2.10g/t Ag | 484.80 | 0.69 | ||||||
| (include 0.20m @ 1.15g/t Au / 2.09g/t Ag) | 485.20 | |||||||
| DDH-364 | Petai Kayu | 15216 | 18311 | 1258 | -55/210 | 0.50m @ 1.41g/t Au / 13.85g/t Ag | 176.50 | 0.43 |
| (include 0.30m @ 2.22g/t Au / 15.8g/t Ag) | 176.50 | |||||||
| DDH-368 | Talang Linar | 15477 | 18384 | 1324 | 60/200 | 0.40m @ 1.14g/t Au / 74.70g/t Ag | 148.60 | 0.35 |
| 0.20m @ 3.67g/t Au / 12.20g/t Ag | 296.30 | 0.17 | ||||||
| 0.50m @ 2.45g/t Au / 185.40g/t Ag | 300.30 | 0.32 | ||||||
| 1.15m @ 1.04g/t Au / 7.69g/t Ag | 303.10 | 0.74 | ||||||
| (include 0.75m @ 1.5g/t Au / 6.84g/t Ag) | 303.50 | |||||||
| DDH-372 | Talang Santo West | 14774 | 19457 | 1267 | -60/200 | 1.00m @ 1.30g/t Au / 7.10g/t Ag | 121.40 | 0.94 |
| 2.20m @ 3.96g/t Au / 12.70g/t Ag | 124.55 | 2.07 | ||||||
| DDH-377 | Talang Santo | 19531 | 14797 | 1269 | -54/200 | 1.65m @ 3.34g/t Au / 4.12g/t Ag | 164.60 | 1.43 |
12
Quarterly
Activities
Report
for
the
period
ending
30
September
2012
==> picture [82 x 37] intentionally omitted <==
| Hole No. | Prospect | N | E | RL | Dip / Azimuth |
Intercept | Depth From |
True Width |
|---|---|---|---|---|---|---|---|---|
| DDH-379 | Talang Santo | 14873 | 19573 | 1268 | -70/203 | 0.20m @ 1.57g/t Au / 1.14g/t Ag | 200.00 | 0.17 |
| 0.95m @ 2.96g/t Au / 3.17g/t Ag | 245.00 | 0.61 | ||||||
| 0.20m @ 9.31g/t Au / 66.60g/t Ag | 252.30 | 0.10 | ||||||
| 0.45m @ 1.05g/t Au / 1.58g/t Ag | 256.15 | 0.39 | ||||||
| 1.80m @ 2.85g/t Au / 6.41g/t Ag | 263.05 | 1.56 | ||||||
| 3.00m @ 4.57g/t Au / 23.80g/t Ag | 269.30 | 2.60 | ||||||
| 0.15m @ 1.10g/t Au / 2.98g/t Ag | 277.65 | 0.11 | ||||||
| 0.70m @ 1.84g/t Au / 7.28g/t Ag | 292.05 | 0.24 | ||||||
| DDH-381 | Talang Santo | 14740 | 19498 | 1264 | -50/200 | 0.55m @ 1.46g/t Au / 2.03g/t Ag | 77.65 | 0.45 |
| 1.20m @ 1.68g/t Au / 2.34g/t Ag | 91.80 | 0.98 | ||||||
| DDH-382 | Talang Santo | 14895 | 19533 | 1268 | -62/199 | 1.25m @ 1.10g/t Au / 2.56g/t Ag | 250.25 | 1.02 |
| DDH-384 | Talang Santo | 14884 | 19639 | 1270 | -71/200 | 0.60m @ 1.30g/t Au / 2.19g/t Ag | 308.90 | 0.16 |
| 2.00m @ 2.82g/t Au / 6.83g/t Ag | 328.80 | 1.29 | ||||||
| DDH-386 | Talang Santo | 14740 | 19498 | 1264 | -50/200 | 4.20m @ 0.64g/t Au / 1.01g/t Ag | 55.60 | |
| (include 0.25m @ 1.13g/t Au / 0.76g/t Ag) | 57.05 | |||||||
| 0.30m @ 2.25g/t Au / 2.28g/t Ag | 104.70 | 0.25 | ||||||
| 0.25m @ 1.12g/t Au / 1.27g/t Ag | 233.25 | 0.21 | ||||||
| DDH-388 | Talang Santo | 14871 | 19676 | 1272 | -60/200 | 0.25m @ 3.02g/t Au / 3.80g/t Ag | 261.30 | 0.22 |
| 0.25m @ 6.52g/t Au / 3.80g/t Ag | 275.70 | 0.22 | ||||||
| 3.35m @ 2.04g/t Au / 4.26g/t Ag | 277.65 | 2.90 | ||||||
| (include 1.60m @ 3.69g/t Au / 5.94g/t Ag) | 277.65 | |||||||
| 2.50m @ 11.20g/t Au / 58.30g/t Ag | 294.25 | 1.91 | ||||||
| 0.55m @ 2.67g/t Au / 28.50g/t Ag | 401.70 | 0.39 | ||||||
| DDH-390 | Talang Santo | 15030 | 19834 | 1280 | -62/210 | 2.05m @ 1.09g/t Au / 1.38g/t Ag | 93.00 | 0.87 |
| DDH-391 | Talang Santo | 14795 | 19476 | 1270 | -90/0 | 1.15m @ 1.26g/t Au /2.81g/t Ag | 226.25 | 0.83 |
| DDH-392 | Talang Santo | 14879 | 19474 | 1266 | -68.5/204 | [email protected]/2.85Ag | 231.55 | 0.09 |
| [email protected]/7.84Ag | 232.25 | 0.98 | ||||||
| (include [email protected]/14.80Ag) | 233.20 | |||||||
| DDH-393 | Talang Santo | 14932. 5 |
19764. 2 |
1275. 1 |
-50/200 | [email protected]/1.480Ag | 171.65 | 1.18 |
| [email protected]/3.02Ag | 270.60 | 0.28 | ||||||
| [email protected]/1.08Ag | 303.95 | 0.33 | ||||||
| [email protected]/3.02Ag | 339.50 | 0.29 | ||||||
| [email protected]/13.45Ag | 345.30 | 1.14 | ||||||
| DDH-396 | Talang Santo | 19676 | 14871 | 1272 | -50/200 | [email protected]/22.93Ag | 250.50 | 0.23 |
| [email protected]/1.52Ag | 253.65 | 0.14 | ||||||
| [email protected]/7.91Ag | 261.60 | 1.55 | ||||||
| [email protected]/3.29Ag | 279.30 | 0.09 | ||||||
| [email protected]/5.18Ag | 283.75 | 0.59 | ||||||
| [email protected]/7.24Ag | 314.90 | 0.87 |
13
Quarterly
Activities
Report
for
the
period
ending
30
September
2012
==> picture [82 x 37] intentionally omitted <==
| Hole No. | Prospect | N | E | RL | Dip / Azimuth |
Intercept | Depth From |
True Width |
|---|---|---|---|---|---|---|---|---|
| DDH-356 | Linggo Sapta | 10236 | 9553 | 1187 | 50/225 | 0.30m @ 2.26g/t Au / 39.50g/t Ag | 73.50 | 0.23 |
| 0.15m @ 4.18g/t Au / 28.70g/t Ag | 103.50 | 0.13 | ||||||
| 0.30m @ 1.13g/t Au / 12.20g/t Ag | 118.20 | 0.25 | ||||||
| 0.40m @ 2.39g/t Au / 31.20g/t Ag | 131.00 | 0.35 | ||||||
| 0.70m @ 1.39g/t Au / 19.90g/t Ag | 135.40 | 0.57 | ||||||
| 0.20m @ 3.36g/t Au / 12.7g/t Ag | 162.15 | 0.15 | ||||||
| 1.25m @ 1.89g/t Au / 6.05g/t Ag | 168.25 | 0.96 | ||||||
| (include 0.25m @ 6.33g/t Au / 14.20g/t Ag) | 168.25 | |||||||
| 0.50m @ 3.10g/t Au / 10.40g/t Ag | 185.60 | 0.43 | ||||||
| 0.30m @ 2.52g/t Au / 12.30g/t Ag | 188.80 | 0.19 | ||||||
| 0.50m @ 2.00g/t Au / 12.10g/t Ag | 284.50 | 0.32 | ||||||
| (include 0.20m @ 4.18g/t Au / 22.20g/t Ag) | 284.50 | |||||||
| 0.20m @ 3.61g/t Au / 39.80g/t Ag | 287.40 | 0.17 | ||||||
| 0.60m @ 1.22g/t Au / 7.41g/t Ag | 364.15 | 0.49 | ||||||
| 0.60m @ 15.9g/t Au / 147.90g/t Ag | 367.30 | 0.49 | ||||||
| DDH-358 | Linggo Sapta | 10226 | 9716 | 1177 | -50/225 | 0.25m @ 1.00g/t Au / 4.12g/t Ag | 134.25 | 0.22 |
| 0.40m @ 1.66g/t Au / 3.99g/t Ag | 170.70 | 0.35 | ||||||
| 0.25m @ 1.38g/t Au / 2.72g/t Ag | 191.15 | 0.22 | ||||||
| 1.60m @ 1.19g/t Au / 6.22g/t Ag | 214.00 | 1.39 | ||||||
| 1.05m @ 1.70g/t Au / 5.76g/t Ag | 222.00 | 0.91 | ||||||
| 0.20m @ 1.06g/t Au / 8.99g/t Ag | 329.70 | 0.15 | ||||||
| DDH-359 | Linggo Sapta | 10039 | 9919 | 1053 | -50/227 | 1.80m @ 1.74g/t Au / 9.90g/t Ag | 47.10 | 1.56 |
| (include 0.80m @ 3.48g/t Au / 15.1g/t Ag) | 48.10 | |||||||
| 0.50m @ 2.42g/t Au / 113.00g/t Ag | 79.20 | 0.43 | ||||||
| 1.80m @ 2.46g/t Au / 39.90g/t Ag | 111.50 | 1.38 | ||||||
| 0.55m @ 8.74g/t Au / 331.87g/t Ag | 121.25 | 0.48 | ||||||
| DDH-360 | Linggo Sapta | 10127 | 9634 | 1199 | -50/225 | 0.25m @ 1.38g/t Au / 14.90g/t Ag | 60.00 | 0.31 |
| 0.50m @ 5.95g/t Au / 45.70g/t Ag | 63.35 | 0.38 | ||||||
| 0.30m @ 1.56g/t Au / 23.00g/t Ag | 79.60 | 0.24 | ||||||
| 0.30m @ 1.11g/t Au / 9.25g/t Ag | 88.20 | 0.24 | ||||||
| 0.30m @ 2.19g/t Au / 29.07g/t Ag | 92.00 | 0.23 | ||||||
| 0.40m @ 1.41g/t Au / 24.30g/t Ag | 101.90 | 0.31 | ||||||
| 2.25m @ 1.02g/t Au / 12.90g/t Ag | 126.30 | 1.95 | ||||||
| (include 0.40m @ 2.25g/t Au / 30.9g/t Ag) | 127.20 | |||||||
| 0.65m @ 3.29g/t Au / 13.50g/t Ag | 144.10 | 0.50 | ||||||
| 0.25m @ 3.10g/t Au / 18.20g/t Ag | 154.60 | 0.22 | ||||||
| 0.40m @ 8.23g/t Au / 80.00g/t Ag | 187.70 | 0.35 |
14
Quarterly
Activities
Report
for
the
period
ending
30
September
2012
==> picture [82 x 37] intentionally omitted <==
| Hole No. | Prospect | N | E | RL | Dip / Azimuth |
Intercept | Depth From |
True Width |
|---|---|---|---|---|---|---|---|---|
| DDH-361 | Linggo Sapta | 10157 | 9586 | 1188 | -50/225 | 0.45m @ 2.02g/t Au / 18.20g/t Ag | 65.80 | 0.34 |
| 0.15m @ 18.90g/t Au / 134.20g/t Ag | 112.95 | 0.13 | ||||||
| 0.20m @ 1.62g/t Au / 9.18g/t Ag | 129.90 | 0.19 | ||||||
| 0.45m @ 1.50g/t Au / 17.00g/t Ag | 131.10 | 0.34 | ||||||
| 0.15m @ 2.34g/t Au / 40.20g/t Ag | 133.10 | 0.11 | ||||||
| 0.45m @ 1.33g/t Au / 20.90g/t Ag | 142.15 | 0.34 | ||||||
| 1.60m @ 2.67g/t Au / 28.80g/t Ag | 153.60 | 1.31 | ||||||
| 0.50m @ 3.74g/t Au / 4.75g/t Ag | 184.30 | 0.41 | ||||||
| DDH-366 | Linggo Sapta | 1004 | 9919 | 1053 | -63/227 | 0.15m @ 1.24g/t Au / 26.50g/t Ag | 33.35 | 0.11 |
| 0.25m @ 1.35g/t Au / 11.30g/t Ag | 61.00 | 0.19 | ||||||
| 0.30m @ 1.26g/t Au / 46.90g/t Ag | 64.40 | 0.19 | ||||||
| 1.40m @ 0.72g/t Au / 17.20g/t Ag | 68.80 | 0.89 | ||||||
| 0.40m @ 1.83g/t Au / 12.80g/t Ag | 80.75 | 0.31 | ||||||
| 0.30m @ 1.77g/t Au / 12.90g/t Ag | 85.70 | 0.19 | ||||||
| 1.50m @ 1.10g/t Au / 26.60g/t Ag | 91.50 | 1.15 | ||||||
| (include 0.75m @ 1.80g/t Au / 47.60g/t Ag) | 92.25 | |||||||
| 4.00m @ 2.13g/t Au / 47.00g/t Ag | 135.10 | 3.06 | ||||||
| DDH-367 | Linggo Sapta | 10107 | 9711 | 1190 | -50/225 | 2.50m @ 1.76g/t Au / 2.00g/t Ag | 30.90 | 1.91 |
| (include 0.40 m @ 6.78g/t Au / 2.10g/t Ag) | 30.90 | |||||||
| 1.50m @ 1.51g/t Au / 0.94g/t Ag | 48.90 | 1.15 | ||||||
| (include 0.30m @ 4.12g/t Au / 0.82g/t Ag) | 48.90 | |||||||
| 0.20m @ 1.72g/t Au / 17.20g/t Ag | 55.20 | 0.15 | ||||||
| 0.60m @ 8.49g/t Au / 50.30g/t Ag | 101.70 | 0.54 | ||||||
| 1.10m @ 3.86g/t Au / 45.00g/t Ag | 106.20 | 0.84 | ||||||
| 0.30m @ 1.69g/t Au / 14.90g/t Ag | 110.20 | 0.19 | ||||||
| 1.00m @ 7.47g/t Au / 37.60g/t Ag | 122.10 | 0.64 | ||||||
| 1.50m @ 1.39g/t Au / 17.40g/t Ag | 158.40 | 0.96 | ||||||
| (include 0.20m @ 2.19g/t Au / 31.35g/t Ag) | 158.40 | |||||||
| 0.30m @ 5.32g/t Au / 52.40g/t Ag | 163.60 | 0.27 | ||||||
| 0.20m @ 1.09g/t Au / 55.50g/t Ag | 172.60 | 0.17 | ||||||
| 0.20m @ 26.20g/t Au / 145.70g/t Ag | 185.00 | 0.16 | ||||||
| 0.20m @ 1.43g/t Au / 23.30g/t Ag | 199.00 | 0.17 | ||||||
| DDH-369 | Linggo Sapta | 10053 | 9867 | 1079 | -60/236 | 0.20m @ 2.19g/t Au / 0.76g/t Ag | 10.90 | 0.15 |
| 1.00m @ 9.50g/t Au / 56.50g/t Ag | 14.70 | 0.77 | ||||||
| 0.40m @ 1.14g/t Au / 9.31g/t Ag | 18.90 | 0.33 | ||||||
| 0.90m @ 3.29g/t Au / 15.90g/t Ag | 20.80 | 0.74 | ||||||
| 2.50m @ 1.20g/t Au / 13.60g/t Ag | 22.40 | 1.92 | ||||||
| (include 1.10m @ 1.62g/t Au / 19.30g/t Ag) | 23.20 | |||||||
| 1.00m @ 1.21g/t Au / 40.50g/t Ag | 53.30 | 0.71 | ||||||
| 0.10m @ 1.06g/t Au / 14.30g/t Ag | 59.40 | 0.09 | ||||||
| 1.20m @ 9.23g/t Au / 191.50g/t Ag | 117.50 | 0.92 | ||||||
| 2.55m @ 0.74g/t Au / 15.20g/t Ag | 172.60 | 1.95 | ||||||
| (include 0.95m @ 1.65g/t Au / 28.50g/t Ag) | 174.20 | 0.73 |
15
Quarterly
Activities
Report
for
the
period
ending
30
September
2012
==> picture [82 x 37] intentionally omitted <==
| Hole No. | Prospect | N | E | RL | Dip / Azimuth |
Intercept | Depth From |
True Width |
|---|---|---|---|---|---|---|---|---|
| DDH-373 | Linggo Sapta | 10107 | 9711 | 1190 | -52/239 | 0.20m @ 1.51g/t Au / 0.51g/t Ag | 31.70 | 0.15 |
| 1.90m @ 4.09g/t Au / 1.62g/t Ag | 33.10 | 1.22 | ||||||
| 0.15m @ 1.18g/t Au / 0.25g/t Ag | 47.25 | 0.13 | ||||||
| 0.30m @ 7.22g/t Au / 2.09g/t Ag | 49.00 | 0.23 | ||||||
| 0.20m @ 1.40g/t Au / 0.51g/t Ag | 67.30 | 0.18 | ||||||
| 0.80m @ 1.19g/t Au / 3.73g/t Ag | 78.20 | 0.73 | ||||||
| 2.60m @ 1.86g/t Au / 19.80g/t Ag | 95.40 | 2.37 | ||||||
| (include 1.00m @ 2.59g/t Au / 16.44g/t Ag) | 95.40 | |||||||
| 0.45m @ 1.44g/t Au / 28.10g/t Ag | 105.50 | 0.39 | ||||||
| 0.85m @ 5.07g/t Au / 29.30g/t Ag | 119.45 | 0.70 | ||||||
| 1.30m @ 1.55g/t Au / 19.30g/t Ag | 127.80 | 1.00 | ||||||
| 0.70m @ 4.18g/t Au / 49.50g/t Ag | 151.30 | 0.54 | ||||||
| 0.20m @ 4.05g/t Au / 35.90g/t Ag | 157.60 | 0.15 | ||||||
| 0.25m @ 2.04g/t Au / 21.80g/t Ag | 166.55 | 0.19 | ||||||
| 0.40m @ 7.73g/t Au / 20.90g/t Ag | 179.30 | 0.20 | ||||||
| 0.60m @ 1.24g/t Au / 3.48g/t Ag | 184.20 | 0.39 | ||||||
| 1.10m @ 2.47g/t Au / 21.90g/t Ag | 188.50 | 0.84 | ||||||
| DDH-374 | Linggo Sapta | 10226 | 9718 | 1178 | -65/267 | 0.25m @ 1.02g/t Au / 3.93g/t Ag | 6.25 | 0.16 |
| 1.10m @ 1.54g/t Au / 16.10g/t Ag | 16.70 | 0.84 | ||||||
| 0.30m @ 2.06g/t Au / 4.62g/t Ag | 46.90 | 0.23 | ||||||
| DDH-375 | Linggo Sapta | 10052 | 9863 | 1080 | -48/236 | 1.50m @ 4.17g/t Au / 11.50g/t Ag | 7.20 | 1.15 |
| 0.10m @ 8.23g/t Au / 20.40g/t Ag | 18.20 | 0.09 | ||||||
| 1.40m @ 3.02g/t Au / 28.40g/t Ag | 21.20 | 1.07 | ||||||
| (include 0.80m @ 4.12 g/t Au / 35.28 g/t Ag) | 21.20 | |||||||
| 0.20m @ 11.90g/t Au / 93.30g/t Ag | 42.00 | 0.15 | ||||||
| 0.55m @ 1.35g/t Au / 20.60g/t Ag | 50.70 | 0.45 | ||||||
| 0.25m @ 1.76g/t Au / 12.50g/t Ag | 53.90 | 0.22 | ||||||
| 1.10m @ 1.56g/t Au / 25.50g/t Ag | 65.60 | 0.95 | ||||||
| 0.15m @ 1.57g/t Au / 27.70g/t Ag | 72.80 | 0.11 | ||||||
| 0.30m @ 1.01g/t Au / 24.30g/t Ag | 80.00 | 0.26 | ||||||
| 0.20m @ 9.56g/t Au / 219.10g/t Ag | 81.60 | 0.17 | ||||||
| 2.70m @ 2.76g/t Au / 56.00g/t Ag | 152.10 | 2.34 | ||||||
| DDH-378 | Linggo Sapta | 9718 | 10226 | 1177 | -58/244 | 0.40m @ 1.21g/t Au / 21.50g/t Ag | 56.10 | 0.20 |
| 0.90m @ 1.02g/t Au / 11.15g/t Ag | 173.30 | 0.69 | ||||||
| 0.50m @ 3.04g/t Au / 3.80g/t Ag | 232.1 | 0.38 | ||||||
| DDH-380 | Linggo Sapta | 10158 | 9587 | 1188 | -53/260 | 0.15m @ 2.54g/t Au / 7.41g/t Ag | 13.20 | 0.12 |
| 0.50m @ 1.14g/t Au / 19.40g/t Ag | 42.20 | 0.41 | ||||||
| 0.60m @ 3.02g/t Au / 31.9g/t Ag | 72.10 | 0.52 | ||||||
| 0.25m @ 2.52g/t Au / 43g/t Ag | 90.30 | 0.19 | ||||||
| 0.70m @ 1.31g/t Au / 18.6g/t Ag | 126.50 | 0.49 | ||||||
| 1.20m @ 2.78g/t Au / 12.40g/t Ag | 140.80 | 1.04 | ||||||
| 0.60m @ 5.45g/t Au / 45.20g/t Ag | 144.60 | 0.52 |
16
Quarterly
Activities
Report
for
the
period
ending
30
September
2012
==> picture [82 x 37] intentionally omitted <==
| Hole No. | Prospect | N | E | RL | Dip / Azimuth |
Intercept | Depth From |
True Width |
|---|---|---|---|---|---|---|---|---|
| DDH-383 | Linggo Sapta | 10138 | 9764 | 1165 | -50/222 | 1.00m @ 1.46g/t Au / 17.4g0/t Ag | 39.40 | 0.87 |
| 0.40m @ 1.41g/t Au / 13.40g/t Ag | 42.20 | 0.35 | ||||||
| 0.50m @ 1.21g/t Au / 7.47g/t Ag | 46.00 | 0.44 | ||||||
| 0.60m @ 1.62g/t Au / 10.30g/t Ag | 56.00 | 0.49 | ||||||
| 0.35m @ 29.32g/t Au / 90.00g/t Ag | 60.90 | 0.33 | ||||||
| 1.90m @ 4.87g/t Au / 32.30g/t Ag | 96.80 | 1.65 | ||||||
| 2.00m @ 1.43g/t Au / 10.00g/t Ag | 128.60 | 1.53 | ||||||
| 0.60m @ 2.32g/t Au / 24.90g/t Ag | 140.30 | 0.46 | ||||||
| 0.80m @ 2.76g/t Au / 48.10g/t Ag | 155.90 | 0.67 | ||||||
| 0.65m @ 15.10g/t Au / 233.10g/t Ag | 241.15 | 0.46 | ||||||
| DDH-385 | Linggo Sapta | 10185 | 9736 | 1192 | -52/224 | 2.70m @ 0.87g/t Au / 5.20g/t Ag | 9.40 | 2.34 |
| (include 0.90m @ 1.22g/t Au / 9.06g/t Ag) | 9.40 | |||||||
| 0.80m @ 1.07g/t Au / 7.35g/t Ag | 14.10 | 0.69 | ||||||
| 2.50m @ 1.40g/t Au / 1.78g/t Ag | 25.50 | 2.15 | ||||||
| (include [email protected]/1.58Ag) | 25.50 | |||||||
| 0.20m @ 1.30g/t Au / 5.83g/t Ag | 38.70 | 0.17 | ||||||
| 1.10m @ 1.07g/t Au / 10.30g/t Ag | 39.70 | 0.93 | ||||||
| 0.90m @ 1.23g/t Au / 4.37g/t Ag | 42.30 | 0.72 | ||||||
| 0.90m @ 5.64g/t Au / 41.90g/t Ag | 55.10 | 0.72 | ||||||
| 0.30m @ 1.90g/t Au / 1.58g/t Ag | 68.20 | 0.24 | ||||||
| 0.60m @ 1.29g/t Au / 5.70g/t Ag | 82.80 | 0.49 | ||||||
| 1.15m @ 0.70g/t Au / 13.60g/t Ag | 119.55 | 0.94 | ||||||
| (include 0.35m @ 1.02g/t Au / 13.90g/t Ag) | 119.55 | |||||||
| 0.50m @ 1.10g/t Au / 2.09g/t Ag | 125.55 | 0.47 | ||||||
| 1.95m @ 0.94g/t Au / 7.66g/t Ag | 148.05 | 1.69 | ||||||
| 1.30m @ 1.82g/t Au / 17.40g/t Ag | 173.20 | 1.00 | ||||||
| 0.30m @ 1.35g/t Au / 13.50g/t Ag | 175.80 | 0.25 | ||||||
| 0.90m @ 1.57g/t Au / 15.5g0/t Ag | 182.10 | 0.78 | ||||||
| 0.30m @ 3.17g/t Au / 24.10g/t Ag | 184.10 | 0.26 | ||||||
| 2.00m @ 1.94g/t Au / 14.90g/t Ag | 191.70 | 1.73 | ||||||
| 0.30m @ 16.70g/t Au / 41.30g/t Ag | 197.30 | 0.26 | ||||||
| 0.35m @ 1.31g/t Au / 4.24g/t Ag | 202.70 | 0.27 | ||||||
| 0.60m @ 1.66g/t Au / 29.90g/t Ag | 210.60 | 0.46 | ||||||
| 0.40m @ 6.27g/t Au / 127.90g/t Ag | 262.30 | 0.26 | ||||||
| 0.70m @ 2.49g/t Au / 14.60g/t Ag | 290.80 | 0.49 | ||||||
| 0.40m @ 2.42g/t Au / 6.71g/t Ag | 301.40 | 0.31 |
17
Quarterly
Activities
Report
for
the
period
ending
30
September
2012
==> picture [82 x 37] intentionally omitted <==
| Hole No. | Prospect | N | E | RL | Dip / Azimuth |
Intercept | Depth From |
True Width |
|---|---|---|---|---|---|---|---|---|
| DDH-387 | Linggo Sapta | 10138 | 9764 | 1165 | -60/222 | 0.20m @ 1.21g/t Au / 2.15g/t Ag | 12.80 | 0.17 |
| 0.60m @ 2.63g/t Au / 6.08g/t Ag | 30.60 | 0.46 | ||||||
| 0.80m @ 1.48g/t Au / 7.54g/t Ag | 69.10 | 0.61 | ||||||
| 0.80m @ 2.23g/t Au / 17.50g/t Ag | 105.80 | 0.57 | ||||||
| 1.80m @ 1.88g/t Au / 26.10g/t Ag | 109.50 | 1.38 | ||||||
| 1.60m @ 1.08g/t Au / 11.90g/t Ag | 112.30 | 1.23 | ||||||
| 3.10m @ 1.56g/t Au / 13.90g/t Ag | 140.30 | 2.68 | ||||||
| 0.40m @ 1.30g/t Au / 12.00g/t Ag | 153.40 | 0.31 | ||||||
| 0.10m @ 1.17g/t Au / 21.00g/t Ag | 171.20 | 0.09 | ||||||
| 0.40m @ 1.67g/t Au / 21.80g/t Ag | 243.90 | 0.26 | ||||||
| DDH-394 | Linggo Sapta | 10042 | 9677 | 1193 | -50/216 | [email protected]/4.74Ag | 34.50 | 1.30 |
| (include [email protected]/8.93Ag) | ||||||||
| [email protected]/3.17Ag | 38.30 | 0.95 | ||||||
| [email protected]/0.70Ag | 47.80 | 0.43 | ||||||
| [email protected]/1.93Ag | 51.90 | 1.13 | ||||||
| [email protected]/1.52Ag | 58.00 | 0.16 | ||||||
| [email protected]/31.70Ag | 65.80 | 0.27 | ||||||
| [email protected]/27.40Ag | 97.20 | 0.78 | ||||||
| [email protected]/57.40Ag | 117.80 | 0.16 | ||||||
| [email protected]/7.85Ag | 143.45 | 0.70 | ||||||
| [email protected]/22.40Ag | 154.70 | 0.23 | ||||||
| [email protected]/28.30Ag | 171.70 | 0.69 | ||||||
| [email protected]/49.53Ag | 182.90 | 0.07 | ||||||
| [email protected]/3.29Ag | 187.80 | 0.12 |
18
Quarterly
Activities
Report
for
the
period
ending
30
September
2012
==> picture [82 x 37] intentionally omitted <==
APPENDIX B” “
**Contract
of
Work
Area.**
==> picture [468 x 643] intentionally omitted <==
19