AI assistant
KORAB RESOURCES LIMITED — Management Reports 2017
Oct 3, 2017
65198_rns_2017-10-03_0917cb1b-ca84-414f-a7e1-118f6fa25ea7.pdf
Management Reports
Open in viewerOpens in your device viewer
==> picture [44 x 86] intentionally omitted <==
==> picture [49 x 86] intentionally omitted <==
K O RA B R E SO U RC E S LIMI T ED KORAB H OUSE www.korab.co m .au
4 October 2017
HOST ROCKS H IT IN A LL H O LES D RILL E D FO R COBALT A T BAT C HEL O R
-
Drilling completed at 2 out of 24 Co/Cu/Au/Ag/Pb prospects (P16221 and P225)
-
• Winder than expected host rocks intervals intercepted in drilling • Significant amount of new data obtained from visual observations of drill samples needs immediate chemical verification
-
Samples already shipped to lab for chemical analysis
-
• Korab may undertake drill-out of Prospects 16221 and/or 225 prior to moving to other 22 prospects
Korab Resources Ltd (“ Korab ”, or “ Company ” ) ( ASX: KOR ) is very plea s ed to provid e this progres s report regarding th e cobalt, gold, and copper exploration drilling program at the Batchelor polym e tallic project.
Korab has finished drilling at P r ospect 225 w ith addition a l 4 reverse circulation ( R C) drill hole s compl e ted. Similarl y to 6 RC holes recently co m pleted at pr o spect 16221, all holes drill e d at Prospect 225 h a ve intercept e d rocks which host cob a lt/gold mineralisation in h istorical drill holes. Visu a l inspec t ion of drill c h ips also co n firmed prese n ce of pyrite and quartz w hich were a s sociated wit h cobalt / gold minerali s ation in histo r ical holes drilled within the area.
Korab has so far drilled 10 hol e s for a total of 1,020 m to test 2 out o f the 24 co b alt prospect s (Co/C u /Au) at Bach e lor Project ( s ee Figure 4). The interval s over which h ost rocks w e re intercepte d were w ider than anticipated with v isual inspecti o n confirming presence of m inerals of in t erest.
Issue d Capital
Shares: 288 mln Options: 4 mln Last Price: 2.1 cents Market Cap : $6.05 Mln ASX: KOR BERLIN: C6S.BE
P rojects
Winchester (NT) Magne s ium carbonate (MgCO3) Geolsec (NT) P hosphate rock (P2O5)
Batchelor (NT) Au, Ag, Zn, Pb, Ni, Cu, Co Mt. Elephant (WA) Au, Cu Bobrikovo (UKR) Au, Ag, Pb
==> picture [31 x 65] intentionally omitted <==
==> picture [35 x 65] intentionally omitted <==
In add i tion to obtain i ng sub-surfa c e drill sampl e s, Korab has also collecte d surface roc k chip sample s from quartz outcro p s which may be associat e d with the mineralisation in this area, a nd which ar e locate d near the dril l ing locations (see Figure 1 ) .
Following the loggi n g and modelling of the dr i lled intervals it has beco m e clear that t his significant amou n t of new geological information needs t o be verified by geochemi c al analysis p rior to further work. In view of the above, and g iven the quality of the dat a obtained fro m the recentl y drilled holes, Korab has decided to send the d rill samples and surface r ock chip sa m ples for che m ical analysi s prior t o continuing t he drilling pr o gram. Initially, 6 meter c o mposite sa m ples will be a nalysed, an d followi n g the receipt of composit e sample ass a y results, sin g le meter sa m ples for inter v als of interest will be assayed. Su b ject to the a s say results, Korab may e x tend the drill i ng program a t the recentl y drilled Prospects 16 2 21 and 225, and defer dri l l testing of th e other 22 pr o spects until the drill-outs of Prosp e cts 16221 and 225 are co m pleted. Drill c hips and sur f ace samples have already been shippe d to the a ssay lab, an d composite a ssay results a re expected to be availabl e shortly. Sig n ificant result s will be reported to t h e market wh e n available.
Previo u sly reported mineralisati o n grades at the Co/Cu/Au prospects ( 10 February 2017, and 2 Septe m ber 2017) r a nge up to 0.495% cobalt and 5.8g/t gold in rock c h ips, up to 0.146% cobalt, 1.69% copper and 3.45 g/t gold in prior RC d rilling, and u p to 0.27% cobalt in shallo w RAB drillin g (see Figure 7). Spa t ial analysis o f the mineralisation confir m s wide-spre a d presence o f cobalt, gold, and c o pper in rocks and soils, wi t h multiple R C holes assa y ing in the ra n ge of 0.1% cobalt to 0.5% cobalt, and 1g/t gold to 5.8 g/t gold. For details of the anal y tical results p lease see A p pendix A.
As pr e viously note d , cobalt/gold/copper pros p ects at Bat c helor Projec t extend ove r large areas. These prospects were develop e d on the ba s is of geoch e mical and g eophysical data sets fro m histori c al RC drillin g , RAB drilling, diamond c ore drilling, g ridded soil s urveys, rock chip sample s
==> picture [17 x 48] intentionally omitted <==
20 P R OWSE STRE E T, WEST PE R TH, WA, 600 5 , AUSTRALIA PO B OX 1958, WE S T PERTH, W A , 6872, AUST R ALIA TEL ( 08) 9474 6166 FAX (08) 93 2 2 6333 ACN 082 140 252 PAGE 1
==> picture [44 x 86] intentionally omitted <==
==> picture [49 x 86] intentionally omitted <==
K O RA B R E SO U RC E S LIMI T ED KORAB H OUSE www.korab.co m .au
collect e d from outc r ops, grab sa m ples, electr o magnetic su r veys, gravity surveys, ma g netic survey s and in d uced polariz a tion surveys.
ZINC, LEAD AND S ILVER
Furthermore, Korab has previou s ly reported historical resul t s of zinc, le a d, and silver exploration at Batch e lor Project. M ineralisation grades in R C and diamon d core drillin g ranged up t o 20.6% zinc, 13.50% lead, and 210 g/t silver . These zinc, lead, and sil v er prospects will be drill-t e sted in futur e drilling programs. F o r details of the results please see Appe n dix B.
Issue d Capital
Shares: 288 mln Options: 4 mln Last Price: 2.1 cents Market Cap : $6.05 Mln
ASX: KOR BERLIN: C6S.BE
P rojects
Winchester (NT) Magne s ium carbonate (MgCO3) Geolsec (NT) P hosphate rock (P2O5)
Batchelor (NT) Au, Ag, Zn, Pb, Ni, Cu, Co Mt. Elephant (WA) Au, Cu Bobrikovo (UKR) Au, Ag, Pb
==> picture [31 x 65] intentionally omitted <==
==> picture [35 x 65] intentionally omitted <==
==> picture [27 x 265] intentionally omitted <==
==> picture [55 x 265] intentionally omitted <==
==> picture [54 x 265] intentionally omitted <==
==> picture [55 x 265] intentionally omitted <==
==> picture [55 x 265] intentionally omitted <==
==> picture [55 x 265] intentionally omitted <==
==> picture [54 x 265] intentionally omitted <==
==> picture [55 x 265] intentionally omitted <==
Figure 1 Quartz outcrop at Prospect 16221
ABOU T BATCHEL O R PROJECT
Batch e lor Project c o vers an area of 240 km2 a nd is located approximate l y 70 km south of Darwin i n the R u m Jungle Mi n eral Field. A c cess to the P roject is via Stuart highw a y, approxim a tely one hour drive f r om Darwin (see Figure 3) .
Rum Jungle Mineral Field repres e nts a region of extremely h igh mineral p rospectivity a nd contains a variet y of commodities including Pb, Zn, Ag, Ni, Co, Cu, U, Au, magnesite and phosphate . Th e histori c Rum Jungl e Uranium F ield produce d some 3,530 t of U3O 8 from 1954- 1 971 and th e Wood c utters deposit produced 4.65 Mt ore at 12.28% Zn, 5.65% Pb and 87 g/t Ag b etween 1985 - 1999. O ther deposi t s include the Browns poly m etallic depo s it of Compa s s Resources with 70 Mt @ 2.59% Pb, 0.81% Cu, 0.12% Co, 0.11% Ni and 10g/t Ag ju s t to the north west of Batc h elor.
Rum Jungle Mineral Field lies on the western side of the Pine Creek Inli e r where Pal a eoproterozoi c low-gr a de greensc h ist facies m etasediment s are unconf o rmably dra p ed around two Archaea n graniti c basement c o mplexes (th e Rum Jungle Complex to t h e north and t he Waterhou s e Complex t o the so u th). The Pal a eoproterozoic sequence i s locally unconformably ov e rlain by he m atite quartzit e brecci a and by late Palaeoproter o zoic sandsto n e and congl o merate (see geology and s tructural dat a in Fig u re 5). The tw o basement c o mplexes tog e ther with the Proterozoic r o cks are displaced dextrall y by 4 t o 5 km alo n g the regio n al Giant's Reef Fault, cr e ating a we d ge-shaped e mbayment of sedim e ntary rocks, juxtaposed a gainst the R u m Jungle C o mplex in th e south-east e rn block. Th e base m ent complex e s are unconf o rmably overl a in by the Na m oona Group, which consi s ts of fluvial t o
==> picture [17 x 48] intentionally omitted <==
20 P R OWSE STRE E T, WEST PE R TH, WA, 600 5 , AUSTRALIA PO B OX 1958, WE S T PERTH, W A , 6872, AUST R ALIA TEL ( 08) 9474 6166 FAX (08) 93 2 2 6333 ACN 082 140 252 PAGE 2
==> picture [44 x 86] intentionally omitted <==
==> picture [49 x 86] intentionally omitted <==
Issue d Capital
Shares: 288 mln Options: 4 mln Last Price: 2.1 cents Market Cap : $6.05 Mln
ASX: KOR BERLIN: C6S.BE
P rojects
Winchester (NT) Magne s ium carbonate (MgCO3) Geolsec (NT) P hosphate rock (P2O5)
Batchelor (NT) Au, Ag, Zn, Pb, Ni, Cu, Co Mt. Elephant (WA) Au, Cu Bobrikovo (UKR) Au, Ag, Pb
==> picture [31 x 65] intentionally omitted <==
==> picture [35 x 65] intentionally omitted <==
K O RA B R E SO U RC E S LIMI T ED KORAB H OUSE www.korab.co m .au
shallo w marine clastic sediments of the Beest o ns Formatio n followed by shallow wat e r stromatoliti c carbo n ates of the C e lia Dolomite. The contact b etween the N amoona Gr o up and the o v erlying Mount Partridge Group is unconformable and indicates a period of minor upl i ft and erosion. Pebbles of Beest o ns Formation sandstone a r e found in BI F conglomerate near the b a se of the Crater Formation. Crater Formation arkose, congl o merate, coarse sandstone, and mino r shale grad e upward int o strom a tolitic carbonate of the C oomalie Dol o mite. This u nit has a g r adational co n tact with th e overlying Whites Formation, w hich comprises carbon a ceous siltst o ne and m u dstone, an d interb e dded dololutite in place s . Thinly bedded, colour- b anded siltst o ne and mu d stone of th e Wildm a n Siltstone c ontains mas s ive orthoqua r tzite beds of t he Acacia G a p Sandston e Member an d thin b a saltic volcanics of the Mo u nt Deane V o lcanic Member. The Whit e s Formation and overlyin g units o f the Mount P artridge Gr o up are missi n g from the sequence to t h e west of th e Waterhous e Complex and this suggests t h at baseme n t topograph y was still e xerting an influence o n sedim e ntation at this time. Another period of m inor uplift preceded depo s ition of the S outh Alligator Group and is mark e d by a possible palaeo-regolith brecci a , the Ella Cr e ek Member o f the Koolpi n Forma t ion. The Koolpin Formatio n , Gerowie T u ff, and Moun t Bonnie For m ation repres e nt a transitio n from s hallow wate r cherty and tuffaceous s e diments to deeper wate r siltstone, m udstone, an d sands t one. They g r ade into tur b iditic greywa c ke of the B u rrell Creek F ormation. Chert-dominate d South Alligator Gro u p rocks are a bsent to the west of the b asement co m plexes and a lateral facie s chang e is interpret e d that produ c ed fine-grain e d non-outcr o pping quartz - sericite and q uartz-chlorit e schist s stratigraphi c ally below c o arser Burrell Creek Form a tion rocks. D olerite and g abbro sills of varyin g thicknesses (Zamu Dole r ite) intruded the sediment a ry successi o n prior to deformation an d meta m orphism. Aft e r deposition of the Burre l l Creek For m ation, defor m ation, meta m orphism an d granit e intrusion oc c urred over a p rotracted pe r iod between 1 880 Ma and 1760 Ma. Uplift and erosio n prece d ed the dep o sition of flu v ial platform cover sandstone, represented by the Depot Cree k Sands t one in the R u m Jungle ar e a. The base of the Depot Creek Sands t one is mark e d by siliceou s brecci a with a fine haematitic ma t rix that is pre f erentially developed over t h e Coomalie D olomite. Thi s is her e termed hae m atite quartzi t e breccia (H Q B). Differing modes of ori g in have bee n proposed for the H Q B, either as an in situ w e athering pro d uct, a talus s lope deposit, or a hydrothermal/tectoni c brecci a . The Depot Creek Sands t one is correl a ted with the upper part of the Katherin e River Grou p (Ahmad 2002) and this gives a d e positional ag e of 1720-1700 Ma.
CONT A CT:
Andrej K. Karpinski, Executive C h airman - Aus t ralia: (08) 94 7 4 6166, Inter n ational: +61 8 9474 6166 ABOU T KORAB R E SOURCES
Korab Resources Ltd is an intern a tional minin g and exploration company with operatio n s in Australi a and E urope. Kora b ’s projects i nclude Winc h ester magn e sium carbo n ate deposit and Geolse c phosp h ate rock dep o sit at Batch e lor in the Nor t hern Territor y of Australia, as well as a g old and silver deposit at Bobrikov o in eastern U kraine. The C ompany also explores for c obalt, gold, n ickel, copper, zinc, l e ad and silver, as well as s p ecialty mine r als at Batchelor and at Gr e en Alligator i n the Norther n Territory and for g o ld and cop p er at Mt. El e phant/Ashbu r ton Downs i n Western Australia. Mor e inform a tion about K orab’s proje c ts can be sourced from Korab’s web s ite at www. k orab.com.au. Korab’s shares ar e traded on A ustralian S e curities Exc h ange (ASX) and on the Berlin Stoc k Excha n ge (Berliner B örse) through Equiduct el e ctronic tradi n g platform.
COMPETENT PER S ON STATE M ENT
The information in t his report th a t relates to e xploration re s ults reporte d in this repo r t is based o n inform a tion compile d by the Com p any and revi e wed by Malcolm Castle, a competent p e rson who is a Memb e r of the Au s tralasian Ins t itute of Mining and Metallurgy (“AusI M M”). Malcol m Castle is a consul t ant geologis t employed b y Agricola M ining Consultants Pty Lt d . Mr Castle has sufficient experi e nce that is r e levant to the style of mine r alisation and type of depo s its under con s ideration an d to the activity being undertaken t o qualify as a Competent P erson as de f ined in the 2012 edition of
==> picture [17 x 48] intentionally omitted <==
20 P R OWSE STRE E T, WEST PE R TH, WA, 600 5 , AUSTRALIA PO B OX 1958, WE S T PERTH, W A , 6872, AUST R ALIA TEL ( 08) 9474 6166 FAX (08) 93 2 2 6333 ACN 082 140 252 PAGE 3
==> picture [44 x 86] intentionally omitted <==
==> picture [49 x 86] intentionally omitted <==
K O RA B R E SO U RC E S LIMI T ED KORAB H OUSE www.korab.co m .au
the “A u stralasian C o de for Repo r ting of Explo r ation Result s , Mineral Re s ources and O re Reserves ” (“JOR C Code”). Malcolm Castle c onsents to t h e inclusion i n this report of the matters based on thi s inform a tion in the fo r m and conte x t in which it a ppears.
DISC L AIMER
Forwa r d-looking statements are s tatements that are not historical facts. W ords such a s “expect(s)”, “expe c ted”, “feel(s) ” , “believe(s)”, “will”, “may”, “anticipate ( s)”, “should” , “envisage(s ) ” and similar expre s sions are int e nded to iden t ify such forward-looking information. T h is informatio n includes, but is not limited to s tatements r e garding futu r e exploratio n results, re s ources, or r eserves, an d produ c tion. Anyone reading this report is cau t ioned not to place undue reliance on these forward - lookin g statements. All of such s t atements are subject to ri s ks and unce rt ainties (man y of which ar e difficul t to predict and which ge n erally are b e yond the co n trol of the C ompany) that could caus e actual results to dif f er materially from those e xpressed in, or implied or projected b y , the forward - lookin g information and stateme n ts. These ri s ks and unc e rtainties incl u de, but are not limited to: those relating to th e interpretati o n of exploration results (including drill r esults), the geology, grad e and c o ntinuity of mi n eral deposit s and conclusions of econo m ic evaluatio n s; risks relating to possibl e variati o ns in reserv e s, grade, min i ng dilution, o r e loss, and r e covery rates; risks relating to changes i n projec t financial an d technical p a rameters; ri s ks relating t o the potenti a l for delays in exploratio n programs, project e v aluation/revi e w, completi o n of feasibilit y studies and project development; risk s relate d to commodity prices and f oreign exch a nge rate fluctuations; risks related to failure to secur e adequ a te financing on a timely b asis and on acceptable t e rms; risks re l ated to dela y s in obtainin g gover n mental, or ot h er permits a n d approvals; risks related to security of tenure; and o ther risks an d uncert a inties relate d to the Com p any’s prosp e cts, properti e s and busin e ss strategy. Any forward - lookin g information contained in this report is provided a s of the dat e of this rep o rt. Except a s requir e d under applicable listing r ules and se c urities laws, t he Company does not int e nd, and doe s not as s ume any obligation, to up d ate this forw a rd-looking inf o rmation.
Issue d Capital
Shares: 288 mln Options: 4 mln Last Price: 2.1 cents Market Cap : $6.05 Mln
ASX: KOR BERLIN: C6S.BE
P rojects
Winchester (NT) Magne s ium carbonate (MgCO3) Geolsec (NT) P hosphate rock (P2O5)
Batchelor (NT) Au, Ag, Zn, Pb, Ni, Cu, Co Mt. Elephant (WA) Au, Cu Bobrikovo (UKR) Au, Ag, Pb
==> picture [31 x 65] intentionally omitted <==
==> picture [35 x 65] intentionally omitted <==
==> picture [27 x 145] intentionally omitted <==
==> picture [55 x 145] intentionally omitted <==
==> picture [54 x 145] intentionally omitted <==
==> picture [55 x 145] intentionally omitted <==
==> picture [55 x 145] intentionally omitted <==
==> picture [55 x 145] intentionally omitted <==
==> picture [54 x 145] intentionally omitted <==
==> picture [55 x 145] intentionally omitted <==
==> picture [27 x 145] intentionally omitted <==
==> picture [55 x 145] intentionally omitted <==
==> picture [54 x 145] intentionally omitted <==
==> picture [55 x 145] intentionally omitted <==
==> picture [55 x 145] intentionally omitted <==
==> picture [55 x 145] intentionally omitted <==
==> picture [54 x 145] intentionally omitted <==
==> picture [55 x 145] intentionally omitted <==
Figure 2 Batchelor Project relative to Darwin
==> picture [17 x 48] intentionally omitted <==
20 P R OWSE STRE E T, WEST PE R TH, WA, 600 5 , AUSTRALIA PO B OX 1958, WE S T PERTH, W A , 6872, AUST R ALIA TEL ( 08) 9474 6166 FAX (08) 93 2 2 6333 ACN 082 140 252
PAGE 4
==> picture [44 x 86] intentionally omitted <==
==> picture [49 x 86] intentionally omitted <==
K O RA B R E SO U RC E S LIMI T ED KORAB H OUSE www.korab.co m .au
==> picture [27 x 149] intentionally omitted <==
==> picture [55 x 149] intentionally omitted <==
==> picture [54 x 149] intentionally omitted <==
==> picture [55 x 149] intentionally omitted <==
==> picture [55 x 149] intentionally omitted <==
==> picture [55 x 149] intentionally omitted <==
==> picture [54 x 149] intentionally omitted <==
==> picture [55 x 149] intentionally omitted <==
==> picture [27 x 149] intentionally omitted <==
==> picture [55 x 149] intentionally omitted <==
==> picture [54 x 149] intentionally omitted <==
==> picture [55 x 149] intentionally omitted <==
==> picture [55 x 149] intentionally omitted <==
==> picture [55 x 149] intentionally omitted <==
==> picture [54 x 149] intentionally omitted <==
==> picture [55 x 149] intentionally omitted <==
Figure 3 Batchelor Project on aerial photo
Issue d Capital
Shares: 288 mln Options: 4 mln Last Price: 2.1 cents Market Cap : $6.05 Mln ASX: KOR BERLIN: C6S.BE
P rojects Winchester (NT) Magne s ium carbonate (MgCO3) Geolsec (NT) P hosphate rock (P2O5)
Batchelor (NT) Au, Ag, Zn, Pb, Ni, Cu, Co Mt. Elephant (WA) Au, Cu Bobrikovo (UKR) Au, Ag, Pb
==> picture [31 x 65] intentionally omitted <==
==> picture [35 x 65] intentionally omitted <==
==> picture [27 x 150] intentionally omitted <==
==> picture [55 x 150] intentionally omitted <==
==> picture [54 x 150] intentionally omitted <==
==> picture [55 x 150] intentionally omitted <==
==> picture [55 x 150] intentionally omitted <==
==> picture [55 x 150] intentionally omitted <==
==> picture [54 x 150] intentionally omitted <==
==> picture [55 x 150] intentionally omitted <==
==> picture [27 x 150] intentionally omitted <==
==> picture [55 x 150] intentionally omitted <==
==> picture [54 x 150] intentionally omitted <==
==> picture [55 x 150] intentionally omitted <==
==> picture [55 x 150] intentionally omitted <==
==> picture [55 x 150] intentionally omitted <==
==> picture [54 x 150] intentionally omitted <==
==> picture [55 x 150] intentionally omitted <==
Figure 4 Cobalt/gold/copper targets
==> picture [17 x 48] intentionally omitted <==
20 P R OWSE STRE E T, WEST PE R TH, WA, 600 5 , AUSTRALIA PO B OX 1958, WE S T PERTH, W A , 6872, AUST R ALIA TEL ( 08) 9474 6166 FAX (08) 93 2 2 6333 ACN 082 140 252
PAGE 5
==> picture [44 x 86] intentionally omitted <==
==> picture [49 x 86] intentionally omitted <==
K O RA B R E SO U RC E S LIMI T ED KORAB H OUSE www.korab.co m .au
==> picture [27 x 149] intentionally omitted <==
==> picture [55 x 149] intentionally omitted <==
==> picture [54 x 149] intentionally omitted <==
==> picture [55 x 149] intentionally omitted <==
==> picture [55 x 149] intentionally omitted <==
==> picture [55 x 149] intentionally omitted <==
==> picture [54 x 149] intentionally omitted <==
==> picture [55 x 149] intentionally omitted <==
==> picture [27 x 148] intentionally omitted <==
==> picture [55 x 148] intentionally omitted <==
==> picture [54 x 148] intentionally omitted <==
==> picture [55 x 148] intentionally omitted <==
==> picture [55 x 148] intentionally omitted <==
==> picture [55 x 148] intentionally omitted <==
==> picture [54 x 148] intentionally omitted <==
==> picture [55 x 148] intentionally omitted <==
Figure 5 Batchelor Project on geology and structural map
Issue d Capital
Shares: 288 mln Options: 4 mln Last Price: 2.1 cents Market Cap : $6.05 Mln
ASX: KOR BERLIN: C6S.BE
P rojects
Winchester (NT) Magne s ium carbonate (MgCO3) Geolsec (NT) P hosphate rock (P2O5)
Batchelor (NT) Au, Ag, Zn, Pb, Ni, Cu, Co Mt. Elephant (WA) Au, Cu Bobrikovo (UKR) Au, Ag, Pb
==> picture [31 x 65] intentionally omitted <==
==> picture [35 x 65] intentionally omitted <==
==> picture [27 x 149] intentionally omitted <==
==> picture [55 x 149] intentionally omitted <==
==> picture [54 x 149] intentionally omitted <==
==> picture [55 x 149] intentionally omitted <==
==> picture [55 x 149] intentionally omitted <==
==> picture [55 x 149] intentionally omitted <==
==> picture [54 x 149] intentionally omitted <==
==> picture [55 x 149] intentionally omitted <==
==> picture [27 x 149] intentionally omitted <==
==> picture [55 x 149] intentionally omitted <==
==> picture [54 x 149] intentionally omitted <==
==> picture [55 x 149] intentionally omitted <==
==> picture [55 x 149] intentionally omitted <==
==> picture [55 x 149] intentionally omitted <==
==> picture [54 x 149] intentionally omitted <==
==> picture [55 x 149] intentionally omitted <==
Figure 6 Batchelor Project on local gravity map
==> picture [17 x 48] intentionally omitted <==
20 P R OWSE STRE E T, WEST PE R TH, WA, 600 5 , AUSTRALIA PO B OX 1958, WE S T PERTH, W A , 6872, AUST R ALIA TEL ( 08) 9474 6166 FAX (08) 93 2 2 6333 ACN 082 140 252
PAGE 6
==> picture [44 x 86] intentionally omitted <==
==> picture [49 x 86] intentionally omitted <==
K O RA B R E SO U RC E S LIMI T ED KORAB H OUSE www.korab.co m .au
APPENDIX A
Cobalt, Copper and Gold at Batchelor Project
On 1 0 February 2 0 17 Korab reported result s from the r e view of hist o rical drilling and samplin g enco m passing geo c hemical assessment of 78 4 RAB drillholes, 20 RC dr i llholes, 2,95 0 soil samples, and 6 8 6 rock chip s a mples.
Excer p ts from the r e port are sho w n below for r e ference. Full report can b e accessed at:
http:// w ww.asx.com.au/asx/statist i cs/displayAn n ouncement. d o?display=p d f&idsId=018 2 7144
There has been no material cha n ge to the ex p loration results since they were originally reported o n 10 Fe b ruary 2017. Highli g hts (above 7 0 0ppm Co) f r om Reverse Circulation d r illing include following mu l tiple zones of cobalt, copper and g old (where a v ailable) mineralisation:
| HOLE _ID |
FROM_M | TO_M | CO_PPM | CU_ PPM |
AU_PPM | |
|---|---|---|---|---|---|---|
| BRC2 | 41 | 42 | 725 | 120 | n/a | |
| BRC2 | 43 | 44 | 1,090 | 152 | n/a | |
| BRC2 | 44 | 45 | 895 | 146 | n/a | |
| BRC5 | 46 | 47 | 880 | 800 | 3.45 | |
| BRC5 | 56 | 57 | 1,460 | 10,000 | 2.29 | |
| BRC5 | 57 | 58 | 1,300 | 12,100 | 1.31 | |
| BRC5 | 58 | 59 | 1,040 | 16,900 | 1.36 | |
| BRC5 | 65 | 66 | 765 | 9,420 | 1.69 | |
| BRC6 | 103 | 104 | 795 | 250 | 1.64 |
Issue d Capital
Shares: 288 mln Options: 4 mln Last Price: 2.1 cents Market Cap : $6.05 Mln ASX: KOR BERLIN: C6S.BE
Cobalt mineralisation appears to be pervasiv e , extending over multiple z ones of significant surfici a l extent, covering in a ggregate an a rea of appro x imately 13.9 mln m[2] . The largest single mineralisatio n zone c overs 10.3 m ln m[2] . In the northern zo n es cobalt ap p ears to be a ssociated wi t h copper an d gold, i n the southe r n and centr a l zones it appears to be a ssociated wi t h copper an d nickel. Hig h grade cobalt miner a lisation is l o cated either on top of, or near inters e ctions of deep faults an d crosscutting faults and fractures (see Figure 7 and Figure 8). All of the el e vated cobalt drill intercept s are associated with surface geo c hemical an o malies present in soil, ro c k chips, and shallow RA B drilling.
Highli g hts (above 5 0 0ppm Co) fr o m surface sa m pling includ e following hi g h grade cobalt samples:
P rojects
Winchester (NT) Magne s ium carbonate (MgCO3) Geolsec (NT) P hosphate rock (P2O5)
Batchelor (NT) Au, Ag, Zn, Pb, Ni, Cu, Co Mt. Elephant (WA) Au, Cu Bobrikovo (UKR) Au, Ag, Pb
==> picture [31 x 65] intentionally omitted <==
==> picture [35 x 65] intentionally omitted <==
| TYPE | CO_PP M |
CU_PPM | NI_PPM | |
|---|---|---|---|---|
| rockchip | 4,9 50 |
|||
| rockchip | 4,0 33 |
|||
| rockchip | 2,6 60 |
1,61 0 |
700 | |
| rockchip | 2,1 02 |
|||
| rockchip | 2,0 00 |
94 5 |
460 | |
| rockchip | 1,9 10 |
26 0 |
1,020 | |
| rockchip | 1,5 10 |
1,05 0 |
620 | |
| rockchip | 1,4 40 |
|||
| rockchip | 1,4 10 |
80 0 |
455 | |
| rockchip | 1,1 58 |
|||
| rockchip | 1,0 20 |
==> picture [17 x 48] intentionally omitted <==
20 P R OWSE STRE E T, WEST PE R TH, WA, 600 5 , AUSTRALIA PO B OX 1958, WE S T PERTH, W A , 6872, AUST R ALIA TEL ( 08) 9474 6166 FAX (08) 93 2 2 6333 ACN 082 140 252 PAGE 7
==> picture [44 x 86] intentionally omitted <==
==> picture [49 x 86] intentionally omitted <==
K O RA B R E SO U RC E S LIMI T ED KORAB H OUSE www.korab.co m .au
| rockchip | 7 50 |
|||
|---|---|---|---|---|
| rockchip | 6 70 |
|||
| rockchip | 6 33 |
10 0 |
1 | |
| rockchip | 5 70 |
|||
| rockchip | 5 45 |
1,90 0 |
820 |
Highli g hts (above 5 00 ppm C o ) from shallow RAB drilling include following zo n es of cobalt miner a lisation:
| HOLE _ID |
FROM_M | TO_M | CO_PPM | CU_PPM | NI_PPM | |
|---|---|---|---|---|---|---|
| MGR2 30 |
1 | 3 | 2,400 | 1,14 0 |
570 | |
| MGR2 30 |
3 | 5 | 2,700 | 1,54 0 |
735 | |
| MGR2 30 |
5 | 7 | 1,500 | 1,08 0 |
630 | |
| MGR2 30 |
7 | 9 | 1,420 | 80 0 |
455 | |
| MGR7 66 |
9 | 11 | 1,030 | 7 2 |
239 | |
| MGR2 27 |
7 | 9 | 685 | 2,26 0 |
1,040 |
Diagram below illu s trates in 3D near surface cobalt value s in shallow R AB drilling w ith faults an d fractur e s.
Issue d Capital
Shares: 288 mln Options: 4 mln Last Price: 2.1 cents Market Cap : $6.05 Mln
ASX: KOR BERLIN: C6S.BE
P rojects
Winchester (NT) Magne s ium carbonate (MgCO3) Geolsec (NT) P hosphate rock (P2O5)
==> picture [27 x 147] intentionally omitted <==
==> picture [55 x 147] intentionally omitted <==
==> picture [54 x 147] intentionally omitted <==
==> picture [55 x 147] intentionally omitted <==
==> picture [55 x 147] intentionally omitted <==
==> picture [55 x 147] intentionally omitted <==
==> picture [54 x 147] intentionally omitted <==
==> picture [55 x 147] intentionally omitted <==
==> picture [32 x 147] intentionally omitted <==
==> picture [27 x 146] intentionally omitted <==
==> picture [55 x 146] intentionally omitted <==
==> picture [54 x 146] intentionally omitted <==
==> picture [55 x 146] intentionally omitted <==
==> picture [55 x 146] intentionally omitted <==
==> picture [55 x 146] intentionally omitted <==
==> picture [54 x 146] intentionally omitted <==
==> picture [55 x 146] intentionally omitted <==
==> picture [32 x 146] intentionally omitted <==
Figure 7 3D image of cobalt values in gridded shallow RAB drilling with overlayed faults and fractures (near surface drill-chip values, height and colour reflects Co grade in ppm).
Batchelor (NT) Au, Ag, Zn, Pb, Ni, Cu, Co Mt. Elephant (WA) Au, Cu Bobrikovo (UKR) Au, Ag, Pb
==> picture [31 x 65] intentionally omitted <==
==> picture [35 x 65] intentionally omitted <==
==> picture [17 x 48] intentionally omitted <==
20 P R OWSE STRE E T, WEST PE R TH, WA, 600 5 , AUSTRALIA PO B OX 1958, WE S T PERTH, W A , 6872, AUST R ALIA TEL ( 08) 9474 6166 FAX (08) 93 2 2 6333 ACN 082 140 252 PAGE 8
==> picture [44 x 86] intentionally omitted <==
==> picture [49 x 86] intentionally omitted <==
K O RA B R E SO U RC E S LIMI T ED KORAB H OUSE www.korab.co m .au
==> picture [27 x 145] intentionally omitted <==
==> picture [55 x 145] intentionally omitted <==
==> picture [54 x 145] intentionally omitted <==
==> picture [55 x 145] intentionally omitted <==
==> picture [55 x 145] intentionally omitted <==
==> picture [55 x 145] intentionally omitted <==
==> picture [54 x 145] intentionally omitted <==
==> picture [55 x 145] intentionally omitted <==
==> picture [27 x 144] intentionally omitted <==
==> picture [55 x 144] intentionally omitted <==
==> picture [54 x 144] intentionally omitted <==
==> picture [55 x 144] intentionally omitted <==
==> picture [55 x 144] intentionally omitted <==
==> picture [55 x 144] intentionally omitted <==
==> picture [54 x 144] intentionally omitted <==
==> picture [55 x 144] intentionally omitted <==
Figure 8 3D image of cobalt values in gridded shallow soil sampling program with overlayed faults and fractures (surface values, height and colour reflects Co grade in ppm).
Issue d Capital
Shares: 288 mln Options: 4 mln Last Price: 2.1 cents Market Cap : $6.05 Mln ASX: KOR BERLIN: C6S.BE
P rojects Winchester (NT) Magne s ium carbonate (MgCO3) Geolsec (NT) P hosphate rock (P2O5) Batchelor (NT) Au, Ag, Zn, Pb, Ni, Cu, Co Mt. Elephant (WA) Au, Cu Bobrikovo (UKR) Au, Ag, Pb
==> picture [31 x 65] intentionally omitted <==
==> picture [35 x 65] intentionally omitted <==
==> picture [17 x 48] intentionally omitted <==
20 P R OWSE STRE E T, WEST PE R TH, WA, 600 5 , AUSTRALIA PO B OX 1958, WE S T PERTH, W A , 6872, AUST R ALIA TEL ( 08) 9474 6166 FAX (08) 93 2 2 6333 ACN 082 140 252
PAGE 9
==> picture [44 x 86] intentionally omitted <==
==> picture [49 x 86] intentionally omitted <==
K O RA B R E SO U RC E S LIMI T ED KORAB H OUSE www.korab.co m .au
APPENDIX B
Zinc, Silver and Lead at Batchelor Project
Signifi c ant drill int e rcepts (whic h were repo r ted on 23 N ovember 2 0 16) are sho w n below for refere n ce. Full repo r t can be acc e ssed at:
http:// w ww.asx.com.au/asx/statist i cs/displayAn n ouncement. d o?display=p d f&idsId=018 0 5134
There has been no material cha n ge to the ex p loration results since they were originally reported o n 23 No v ember 2016.
Issue d Capital
Shares: 288 mln Options: 4 mln Last Price: 2.1 cents Market Cap : $6.05 Mln
ASX: KOR BERLIN: C6S.BE
P rojects Winchester (NT) Magne s ium carbonate (MgCO3) Geolsec (NT) P hosphate rock (P2O5) Batchelor (NT) Au, Ag, Zn, Pb, Ni, Cu, Co Mt. Elephant (WA) Au, Cu Bobrikovo (UKR) Au, Ag, Pb
==> picture [31 x 65] intentionally omitted <==
==> picture [35 x 65] intentionally omitted <==
| Hole | Fro m (m) To (m) Int erval (m) Ag (ppm) |
Fro m (m) To (m) Int erval (m) Ag (ppm) |
Fro m (m) To (m) Int erval (m) Ag (ppm) |
Fro m (m) To (m) Int erval (m) Ag (ppm) |
Fro m (m) To (m) Int erval (m) Ag (ppm) |
Zn (%) | Pb (%) |
|---|---|---|---|---|---|---|---|
| BRC12 | 68 | 81 | 13 | 4 | 4.71 | 0.38 | |
| In cluding |
78 79 80 |
79 80 81 |
1 1 1 |
15 10 4 |
20.60 11.80 7.35 |
0.32 1.53 0.39 |
|
| BRC12 | 88 | 101 | 13 | 4 | 3.14 | 0.11 | |
| In cluding |
90 93 94 97 |
91 94 95 98 |
1 1 1 1 |
8 14 4 4 |
5.34 7.79 4.15 6.38 |
0.05 0.15 0.14 0.09 |
|
| WBD06 | 36 | 58 | 22 | 78 | 0.21 | 3.16 | |
| In cluding |
42 44 48 50 |
44 46 50 52 |
2 2 2 2 |
210 135 99 115 |
0.16 0.16 0.79 0.21 |
8.38 13.50 2.36 2.08 |
|
| WBP01 | 101 | 124 | 23 | 15 | 4.98 | 1.60 | |
| In cluding |
104 107 108 111 115 116 117 118 119 120 |
105 108 109 112 116 117 118 119 120 121 |
1 1 1 1 1 1 1 1 1 1 |
10 7 10 10 45 19 110 50 40 13 |
5.74 5.94 12.40 9.50 13.60 7.04 24.30 14.60 8.66 3.08 |
0.11 0.85 1.13 0.49 0.98 0.29 17.30 5.60 2.70 1.41 |
|
| Figure 9 Drilling resu lts highlights |
As pr e viously repo r ted Korab, h as secured o riginal drill l o gs, plans, s e ctions, labo r atory assays, partial pulps and drill chips and a ssociated m a terials. Drill logs show th a t the mineralisation occur s as sp h alerite (zinc s ulphide) an d galena (lea d sulphide) with occasionally large amounts of silver. Simila r ly to Woodc u tters, mineralisation occur s primarily in a chlorite-car b onate altere d dolerite wit h associ a ted significa n t faulting an d fracturing.
Korab has previou s ly reported t hat the abo v e zinc/lead/silver drilling r esults are v e ry significant becau s e they pres e nt potential f or finding di s cordant, str u cturally emp l aced zinc, l e ad and silver
==> picture [17 x 48] intentionally omitted <==
20 P R OWSE STRE E T, WEST PE R TH, WA, 600 5 , AUSTRALIA PO B OX 1958, WE S T PERTH, W A , 6872, AUST R ALIA TEL ( 08) 9474 6166 FAX (08) 93 2 2 6333 ACN 082 140 252 PAGE 10
==> picture [44 x 86] intentionally omitted <==
==> picture [49 x 86] intentionally omitted <==
K O RA B R E SO U RC E S LIMI T ED KORAB H OUSE www.korab.co m .au
orebo d ies and als o present po s sibility for l a rge stratifor m , or stratab o und zinc, lead and silver deposits.
It is i m portant to n o te that there is evidence o f both styles of mineralis a tion in commercially mine d deposits nearby. Discordant, str u cturally emp l aced orebodies were disc o vered at th e Woodcutter s zinc, l e ad and silver mine and a t Area 44 some 8km to t h e north from Korab’s White Bomb/Gle n Luckie prospects. L arge stratiform or strata b ound base m etal deposi t s were disc o vered in th e Emba y ment Area a t Rum Jungl e (Browns, Mt. Fitch, and W hites) some 15-20km to the north west from W hite Bomb/G l en Luckie pr o spects.
Wood c utters Ag-Pb - Zn base met a l deposit wa s discovered in 1966 by B M R when the y drill-tested a promi n ent soil geo c hemical ano m aly. Open p it mining co m menced in 1 985 and w a s followed b y under g round development in late 1986. The mine operated for 14 years a n d closed in M ay 1999. Or e produ c tion totalled 4 .65 Million to n nes at 12.28 % Zn, 5.65% Pb, and 87 g/ t Ag.
The p o ssibility of a large zinc, lead, and sil v er deposit i n the White Bomb/Glen L uckie area i s sugge s ted by simil a rity of its s e tting to Wo o dcutters min e , the great t hicknesses o f significantl y miner a lised graphitic and pyritic sediments d rilled and th e large later a l extent of t h e associate d promi n ent soil geoc h emical ano m aly.
Issue d Capital
Shares: 288 mln Options: 4 mln Last Price: 2.1 cents Market Cap : $6.05 Mln
ASX: KOR BERLIN: C6S.BE
P rojects
Winchester (NT) Magne s ium carbonate (MgCO3) Geolsec (NT) P hosphate rock (P2O5)
Batchelor (NT) Au, Ag, Zn, Pb, Ni, Cu, Co Mt. Elephant (WA) Au, Cu Bobrikovo (UKR) Au, Ag, Pb
==> picture [31 x 65] intentionally omitted <==
==> picture [35 x 65] intentionally omitted <==
==> picture [27 x 155] intentionally omitted <==
==> picture [55 x 155] intentionally omitted <==
==> picture [54 x 155] intentionally omitted <==
==> picture [55 x 155] intentionally omitted <==
==> picture [55 x 155] intentionally omitted <==
==> picture [55 x 155] intentionally omitted <==
==> picture [54 x 155] intentionally omitted <==
==> picture [55 x 155] intentionally omitted <==
==> picture [32 x 155] intentionally omitted <==
==> picture [27 x 154] intentionally omitted <==
==> picture [55 x 154] intentionally omitted <==
==> picture [54 x 154] intentionally omitted <==
==> picture [55 x 154] intentionally omitted <==
==> picture [55 x 154] intentionally omitted <==
==> picture [55 x 154] intentionally omitted <==
==> picture [54 x 154] intentionally omitted <==
==> picture [55 x 154] intentionally omitted <==
==> picture [32 x 154] intentionally omitted <==
Figure 10 Location of Winchester magnesium carbonate open pit relative to historical RC and DD drilling and soil Zn anomalies reported on 23 November 2016 (overlayed on a 3D soil Zn grid)
White Bomb is loc a ted on a mi n eralised tren d extending over 4km, which is part of a 16 km lon g target horizon and i n cludes the n e arby prospe c ts of White Bomb East, th e CRAE lead-zinc prospect, and p o ssibly the Oc c idental lead- z inc prospect .
==> picture [17 x 48] intentionally omitted <==
20 P R OWSE STRE E T, WEST PE R TH, WA, 600 5 , AUSTRALIA PO B OX 1958, WE S T PERTH, W A , 6872, AUST R ALIA TEL ( 08) 9474 6166 FAX (08) 93 2 2 6333 ACN 082 140 252 PAGE 11
==> picture [44 x 86] intentionally omitted <==
==> picture [49 x 86] intentionally omitted <==
K O RA B R E SO U RC E S LIMI T ED KORAB H OUSE www.korab.co m .au
White Bomb/Glen L uckie prosp e cts are in close proximit y to the ma g nesium carbonate deposit alread y discovered at Winches t er which is located within the adjac e nt mining lease, just fe w kilome t res to the n o rth-west and which is cur r ently nearing developmen t . This proxi m ity to Korab’ s other m ining and exploration ass e ts will provid e for conside r able logistic a nd operational advantage s during both the expl o ration phase and (should a discovery b e made) durin g any future d evelopment.
For de t ails of Wood c utters-style m ineralisation see the repor t of 23 Nove m ber 2016.
White Bomb pros p ect present s all feature s present in the explor a tion model for Zn/Pb/A g miner a lisation base d on the resul t s of the Woo d cutters struc t ural study:
-
Proximity t o regional sc a le basement d omes.
-
The inters e ction of regio n al scale anti c lines and tra n spressional f a ult zones. Localised f ault-induced changes in t h e orientation of anticlinal axis or changes in plung e directions.
-
Presence o f fault-related medium to s m all scale fol d s, especially d isharmonic folds.
-
Fault (she a r) zones cont a ining deformed lamproph y re dykes or s u lphidic quart z veins. Localised f a ult bends an d dilational fa u lt jogs.
-
Fault zone s with associ a ted cross cut t ing mineralis e d quartz vein arrays.
Issue d Capital
Shares: 288 mln Options: 4 mln Last Price: 2.1 cents Market Cap : $6.05 Mln
ASX: KOR BERLIN: C6S.BE
P rojects
Winchester (NT) Magne s ium carbonate (MgCO3) Geolsec (NT) P hosphate rock (P2O5)
Batchelor (NT) Au, Ag, Zn, Pb, Ni, Cu, Co Mt. Elephant (WA) Au, Cu Bobrikovo (UKR) Au, Ag, Pb
==> picture [31 x 65] intentionally omitted <==
==> picture [35 x 65] intentionally omitted <==
==> picture [17 x 48] intentionally omitted <==
20 P R OWSE STRE E T, WEST PE R TH, WA, 600 5 , AUSTRALIA PO B OX 1958, WE S T PERTH, W A , 6872, AUST R ALIA TEL ( 08) 9474 6166 FAX (08) 93 2 2 6333 ACN 082 140 252 PAGE 12