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ORA BANDA MINING LTD Capital/Financing Update 2017

Aug 7, 2017

65475_rns_2017-08-07_581c3b73-95f1-4d86-b251-f537e9e7719e.pdf

Capital/Financing Update

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ASX ANNOUNCEMENT 8 August 2017

DAVYHURST EXPLORATION AND OPERATIONS UPDATE

HIGHLIGHTS

  • 13 drill holes completed at the Riverina gold deposit, within which visible gold has been intersected

  • Assay results pending for both Riverina and Callion

  • Processing plant achieving prolonged uninterrupted production periods, nearing a stable state

Eastern Goldfields Limited (ASX: EGS) ( Eastern Goldfields or the Company ) is pleased to announce an exploration and operations update for the Davyhurst plant and the Riverina and Callion Deposits located within the Davyhurst Mining Hub, approximately 120 kilometres North West of Kalgoorlie.

Diamond drilling continues with 13 drill holes recently completed for 1,680 metres (HQ3/NQ2) over a 530 metre strike length of the Riverina gold deposit. Within the latest drill holes a one metre true width fresh-rock quartz vein has been intersected with visible gold (RVDD16018 from 70 metres downhole or 62m vertical from surface). This drilling is currently evaluating potential open pit mining targets.

This is the first time that visible gold has been identified in drill core at Riverina by Eastern Goldfields. This visible gold is associated with the occurrence of blebby sulphide minerals (>5%) and bioite chlorite alteration. Its presence may indicate that the quartz lodes in the deposit contain a considerable proportion of coarse gold. Additional analysis (screen fire) of coarse gold interval are a standard part of EGS sampling protocols.

ISSUED CAPITAL

Shares: 560.4m Options: 58m Current Share Price: $0.29 Market Capitalisation: $162.5m Cash as at 30/06/2017: $13,000*

*Excluding total debt facilities of $35.0m, see ASX announcement 31 Jan 2017. Drawn to date $15.7m.

==> picture [382 x 154] intentionally omitted <==

Figure 1: RVDD16018 70m downhole. Visible gold with sphalerite and galena in quartz vein biotite-chlorite host rock.

The drill core samples are currently being processed and assembled on site and will be dispatched for assaying when ready. There have been a total of 35 holes for 3,830 metres completed of which 16 holes are in the assay laboratory with approximately 1,630 samples due to be received shortly. The remainder of the samples await dispatch from site.

In addition, at the Callion Deposit there are currently a total of 12 holes (1,096 metres) pending results of which 9 holes (600 sample) are in the assay laboratory and are due to be received shortly.

Executive Chairman Michael Fotios said:

“We are very pleased with the continued drilling success at Riverina. We remain highly encouraged by the results flowing from this deposit. We are also very proud of our operational team who have come together seamlessly to achieve numerous operational improvements seen within the processing plant over the last week. This all bodes well for the future of the Davyhurst Project.

Processing Plant Update

Commissioning works continue with the plant now approaching a stable state. From this point, the operation team expects further stabilisation of the plant before commencing the ramp-up of the through-put rate above the current level of 80t/hr. In the last week, the following operational steps have been achieved:

  • Plant now achieving prolonged uninterrupted production periods at an effective operational rate of 80t/hr;

  • Gold-in-circuit ( GIC ) inventory increasing;

  • Davyhurst team successfully commissioned Anglo American Research Laboratory ( AARL ) elution circuit. The first carbon strip has been completed with gold successfully recovered from the circuit. This has resulted in the first carbon in pulp ( CIP ) and gravity gold pour;

  • Davyhurst team working with Process Logic Control ( PLC ) programmers to optimise the plant functionality, which has resulted in a positive increase in the crushing circuit efficiency that has in turn lead to sustained mill feed rates; and

  • Entire leach circuit now on line and functioning to design specification.

Corporate Update

We refer to recent media speculation regarding protests in Kalgoorlie at Diggers & Dealers. The Company has been in constant discussion with these contractors and confirms that the payment of these contractors has occurred or will occur shortly. The Company continues to interact with its contractors in the normal course of commissioning.

Riverina

==> picture [504 x 339] intentionally omitted <==

Figure 2: Riverina Project Location Plan.

==> picture [493 x 699] intentionally omitted <==

Figure 3: Riverina Drill Plan showing drilling with results pending and past results. Previous results see ASX release 25 January 2017.

Callion

==> picture [456 x 568] intentionally omitted <==

Figure 4: Callion Drill Plan showing drilling with results pending and past results. Previous results see ASX release 10 January 2017.

Investor Enquiries

Michael Fotios Jon Snowball Executive Chairman FTI Consulting T: +61 8 6241 1866 T: +61 477 946 068 E : [email protected] E: [email protected]

Forward Looking Statements

Eastern Goldfields Limited has prepared this announcement based on information available to it. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this announcement. To the maximum extent permitted by law, none of Eastern Goldfields Limited, its directors, employees or agents, advisers, nor any other person accepts any liability, including, without limitation, any liability arising from fault or negligence on the part of any of them or any other person, for any loss arising from the use of this announcement or its contents or otherwise arising in connection with it. This announcement is not an offer, invitation, solicitation or other recommendation with respect to the subscription for, purchase or sale of any security, and neither this announcement nor anything in it shall form the basis of any contract or commitment whatsoever. This announcement may contain forward looking statements that are subject to risk factors associated with gold exploration, mining and production businesses. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a variety of variables and changes in underlying assumptions which could cause actual results or trends to differ materially, including but not limited to price fluctuations, actual demand, currency fluctuations, drilling and production results, reserve estimations, loss of market, industry competition, environmental risks, physical risks, legislative, fiscal and regulatory changes, economic and financial market conditions in various countries and regions, political risks, project delay or advancement, approvals and cost estimates.

Competent Persons Statement

The information in this report that relates to Mineral resources is based on information compiled under the supervision of Mr Andrew Czerw, an employee of Eastern Goldfields Limited, who is Member of the Australian Institute of Mining and Metallurgy (AusIMM). Mr Czerw has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Andrew Czerw consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Table 1: EGS Mineral Resource Statement

PROJECT ('000t)
(g/t Au)
MEASURED
('000t)
(g/t Au)
MEASURED
('000t)
(g/t Au)
INDICATED
('000t)
(g/t Au)
INDICATED
('000t)
(g/t Au)
INFERRED
('000t)
(g/t Au)
INFERRED
('000t)
(g/t Au)
('000oz.)
TOTAL MATERIAL
('000t)
(g/t Au)
('000oz.)
TOTAL MATERIAL
('000t)
(g/t Au)
('000oz.)
TOTAL MATERIAL
GOLDEN EAGLE 0 0.0 345 2.5 311 2.6 656 2.5 54
LIGHTS OF ISRAEL UNDERGROUND 0 0.0 74 4.3 180 4.2 254 4.2 35
MAKAI SHOOT 0 0.0 1,985 2.0 153 1.7 2,138 2.0 136
WAIHI 0 0.0 805 2.4 109 2.4 914 2.4 71
Central Davyhurst Subtotal 0 0.0 3,200 2.2 800 2.6 3,962 2.3 296
LADY GLADYS 0 0.0 1,858 1.9 190 2.4 2,048 1.9 128
RIVERINA AREA 0 0.0 941 2.4 1,644 2.5 2,585 2.5 205
FOREHAND 0 0.0 386 1.7 436 1.9 822 1.8 48
SILVER TONGUE 0 0.0 155 2.7 19 1.3 174 2.5 14
SUNRAYSIA 0 0.0 175 2.1 318 2.0 493 2.0 32
Riverina-Mulline Subtotal 0 0.0 3,515 2.1 2,607 2.3 6,122 2.2 427
SAND KING 0 0.0 1,773 3.3 680 3.7 2,453 3.4 272
MISSOURI 0 0.0 2,022 3.0 409 2.6 2,431 2.9 227
PALMERSTON/CAMPERDOWN 0 0.0 118 2.3 174 2.4 292 2.4 22
BERWICK MOREING 0 0.0 0 0.0 50 2.3 50 2.3 4
BLACK RABBIT 0 0.0 0 0.0 434 3.5 434 3.5 49
THIEL WELL 0 0.0 0 0.0 18 6.0 18 6.0 3
Siberia Subtotal 0 0.0 3,913 3.1 1,765 3.2 5,678 3.1 577
CALLION 0 0.0 86 2.8 83 2.3 169 2.6 14
Callion Subtotal 0 0.0 86 2.8 83 2.3 169 2.6 14
FEDERAL FLAG 32 2.0 112 1.8 238 2.5 382 2.3 28
SALMON GUMS 0 0.0 199 2.8 108 2.9 307 2.8 28
WALHALLA 0 0.0 448 1.8 216 1.4 664 1.7 36
WALHALLA NORTH 0 0.0 94 2.4 13 3.0 107 2.5 9
MT BANJO 0 0.0 109 2.3 126 1.4 235 1.8 14
MACEDON 0 0.0 0 0.0 186 1.8 186 1.8 11
Walhalla Subtotal 32 2.0 962 2.1 887 2.0 1,881 2.1 126
IGUANA 0 0.0 690 2.1 2,032 2.0 2,722 2.0 177
LIZARD 106 4.0 75 3.7 13 2.8 194 3.8 24
Lady Ida Subtotal 106 4.0 765 2.3 2,045 2.0 2,916 2.1 201
Davyhurst Total 138 3.5 12,441 2.5 8,187 2.4 20,728 2.4 1,641
BALDOCK 0 0.0 136 18.6 0 0.0 136 18.6 81
BALDOCK STH 0 0.0 0 0.0 0 0.0 0 0.0 0
METEOR 0 0.0 0 0.0 143 9.3 143 9.3 43
WHINNEN 0 0.0 0 0.0 39 13.3 39 13.3 17
Mount Ida Total 0 0.0 136 18.6 182 10.2 318 13.8 141
Combined Total 138 3.5 12,577 2.7 8,369 2.6 21,046 2.6 1,782
  1. All Resources listed above with the exception of the Missouri and Sand King Resources were prepared and first disclosed under the JORC Code 2004 (refer to ASX release “ Swan Gold Prospectus ”, 13/2/2013) . It has not been updated since to comply with JORC Code 2012 on the basis that the information has not materially changed since it was last reported.

  2. The Missouri and Sand King Mineral Resources has been updated and complies with all relevant aspects of the JORC code 2012.

  3. The above table contains rounding errors.

Appendix 1: Drill Details Table

Project Hole MGA Northing MGA Easting MGA RL MGA Azimuth Dip Max Depth Company Comment
Riverina RVDD16004 6706680 264520 442 270 -60 107.1 EGS Results Pending
RVDD16009 6706752 264567 439 270 -62 206.1 EGS Results Pending
RVDD16018 6707000 264557 440 270 -55 107 EGS Results Pending
RVDD16040 6706791 264589 439 270 -60 131.2 EGS Results Pending
RVDD16041 6706789 264621 438 270 -60 149 EGS Results Pending
RVRC16058 6706458 264447 441 90 -60 114 EGS Results Pending
RVRC16062 6706500 264495 442 270 -60 42 EGS Results Pending
RVRC16066 6706540 264470 442 270 -60 42 EGS Results Pending
RVRC16067 6706550 264567 439 270 -60 54 EGS Results Pending
RVRC16068 6706560 264470 442 270 -60 54 EGS Results Pending
RVRC16087 6706740 264487 437 270 -60 84 EGS Results Pending
RVRC16088 6706750 264485 437 270 -60 60 EGS Results Pending
RVRC16090 6706769 264622 437 270 -60 138 EGS Results Pending
RVRC16091 6706769 264642 437 270 -60 132 EGS Results Pending
RVRC16092 6706769 264661 436 270 -60 132 EGS Results Pending
RVRC16102 6706850 264661 438 270 -60 126 EGS Results Pending
RVRC16103 6706851 264558 441 270 -60 60 EGS Results Pending
Callion CNRC094 6665557 267164 472 259 -60 24 EGS Results Pending
CNRC095 6665499 267187 473 259 -60 24 EGS Results Pending
CNRC096 6665450 267199 473 259 -60 30 EGS Results Pending
CNRC103 6666006 267042 477 79 -65 60 EGS Results Pending
CNRC104 6666016 267040 475 79 -65 60 EGS Results Pending
CNRC105 6666018 267041 475 79 -50 72 EGS Results Pending
CNRC108 6665670 267222 476 259 -50 132 EGS Results Pending
CNRC109 6665546 267210 474 320 -65 132 EGS Results Pending
CNRC110 6665543 267209 477 300 -70 116 EGS Results Pending

Appendix 2: Riverina Significant Intercepts Table Previously Released to ASX

Hole MGA
Northing
MGA
Easting
MGA
RL
MGA
Azimuth
Dip Max
Depth
From To Interval
(m)
Grade
(g/t)
Gram
metre
Date
Released
RVRC16069 6706600 264465 442 270 -60 54 38 44 6 3.93 23.6 12/01/2017
RVRC16070 6706600 264540 442 270 -60 114 37 38 1 3.61 3.6 12/01/2017
110 114 4 10.78 43.1
Including 110 111 1 13.76 13.8
Including 112 113 1 20.58 20.6
RVRC16079 6706680 264540 441 270 -60 140 13 14 1 2.17 2.2 12/01/2017
110 112 2 4.99 10
RVRC16080 6706700 264560 439 270 -60 66 5 6 1 1.17 1.2 12/01/2017
19 22 3 2.16 6.5
RVRC16081 6706700 264585 439 270 -60 72 0 1 1 3.41 3.4 12/01/2017
9 10 1 1.14 1.1
19 22 3 4.08 12.2
RVRC16083 6706730 264585 438 270 -60 42 20 21 1 1 1 12/01/2017
24 25 1 1.5 1.5
RVRC16086 6706730 264645 438 270 -60 120 15 16 1 1.58 1.6 12/01/2017
50 53 3 1.71 5.1
74 75 1 1.06 1.1
78 85 7 2.21 15.5
90 92 2 3.19 6.4
96 103 7 1.09 7.6
115 116 1 1.19 1.2
RVRC16089 6706755 264545 439 270 -60 83 16 24 8 1.63 13 12/01/2017
34 36 2 1.58 3.2
39 41 2 2.11 4.2
51 52 1 1.48 1.5
57 60 3 5.26 15.8
Including 57 58 1 10.21 10.2
RVRC16093 6706810 264585 441 270 -60 150 10 15 5 11.56 57.8 12/01/2017
Including 12 14 2 24.49 49
72 77 5 2.2 11
98 100 2 2.3 4.6
131 132 1 8.2 8.2
145 147 2 5.07 10.1
RVRC16094 6706810 264625 440 270 -60 102 20 25 5 1.23 6.2 12/01/2017
31 39 8 1.42 11.4
69 70 1 7.46 7.5
Hole MGA
Northing
MGA
Easting
MGA
RL
MGA
Azimuth
Dip Max
Depth
From To Interval
(m)
Grade
(g/t)
Gram
metre
Date
Released
RVRC16095 6706810 264665 439 270 -60 120 73 85 12 4.94 59.3 12/01/2017
Including 79 83 4 10.92 43.7
RVRC16096 6706820 264560 441 270 -60 114 18 19 1 1.12 1.1 12/01/2017
74 78 4 1.23 4.9
RVRC16099 6706850 264620 440 270 -60 84 2 8 6 1.37 8.2 12/01/2017
11 12 1 1.02 1
49 52 3 1.02 3.1
82 83 1 4.67 4.7
RVRC16102 6706860 264560 442 270 -60 126 0 1 1 1.55 1.6 12/01/2017
18 19 1 1.06 1.1
37 38 1 2.02 2
99 103 4 3.96 15.8
Including 102 103 1 11.89 11.9
RVRC16071 6706620 264460 442 270 -60 60 2 5 3 4.25 12.8 12/01/2017
32 36 4 1.16 4.6
RVRC16072 6706640 264522 444 90 -60 48 25 26 1 2.27 2.3 12/01/2017
RVRC16073 6706650 264475 443 270 -59 54 5 7 2 7.18 14.4 12/01/2017
RVRC16074 6706660 264555 441 270 -60 54 NSI 12/01/2017
RVRC16075 6706660 264565 440 270 -60 24 6 10 4 0.79 3.2 12/01/2017
RVRC16076 6706660 264595 439 270 -60 66 31 33 2 2.36 4.7 12/01/2017
36 39 3 1.01 3
RVRC16077 6706660 264615 438 270 -60 90 41 47 6 2.49 14.9 12/01/2017
54 56 2 1.48 3
59 65 6 1.36 8.2
73 74 1 1.06 1.1
87 88 1 1.2 1.2
RVRC16078 6706660 264635 438 270 -60 120 50 51 1 1.22 1.2 12/01/2017
80 85 5 1.58 7.9
117 118 1 4.21 4.2
RVRC16082 6706700 264605 438 270 -60 78 16 17 1 3.48 3.5 12/01/2017
38 39 1 1.19 1.2
56 59 3 1.3 3.9
71 72 1 1.22 1.2
RVRC16084 6706730 264605 438 270 -60 60 21 22 1 1.11 1.1 12/01/2017
27 31 4 1.81 7.2
38 40 2 1.84 3.7
56 58 2 3.17 6.3
RVRC16085 6706730 264625 438 270 -60 108 38 39 1 1.12 1.1 12/01/2017
49 51 2 1.51 3
79 81 2 3.35 6.7
RVRC16117 6707020 264595 440 270 -60 162 43 44 1 1.81 1.8 12/01/2017
101 104 3 2.51 7.5
113 114 1 6.54 6.5
118 119 1 2.84 2.8
125 128 3 1.25 3.8
138 140 2 5.88 11.8
Including 139 140 1 10.61 10.6
155 156 1 3.24 3.2
RVDD16042 6706790 264660 441 270 -60 149 62.4 64 1.6 1.87 3 12/01/2017
72 82 10 1.65 16.5
113 114 1 1 1
RVRC16071 6706620 264460 442 270 -60 60 2 5 3 4.25 12.8 25/01/2017
32 36 4 1.16 4.6
RVRC16072 6706640 264522 444 90 -60 48 25 26 1 2.27 2.3 25/01/2017
RVRC16073 6706650 264475 443 270 -59 54 5 7 2 7.18 14.4 25/01/2017
RVRC16074 6706660 264555 441 270 -60 54 NSI 25/01/2017
RVRC16075 6706660 264565 440 270 -60 24 6 10 4 0.79 3.2 25/01/2017
RVRC16076 6706660 264595 439 270 -60 66 31 33 2 2.36 4.7 25/01/2017
36 39 3 1.01 3
RVRC16077 6706660 264615 438 270 -60 90 41 47 6 2.49 14.9 25/01/2017
54 56 2 1.48 3
59 65 6 1.36 8.2
73 74 1 1.06 1.1
87 88 1 1.2 1.2
RVRC16078 6706660 264635 438 270 -60 120 50 51 1 1.22 1.2 25/01/2017
80 85 5 1.58 7.9
117 118 1 4.21 4.2
RVRC16082 6706700 264605 438 270 -60 78 16 17 1 3.48 3.5 25/01/2017
38 39 1 1.19 1.2
56 59 3 1.3 3.9
71 72 1 1.22 1.2
Hole MGA
Northing
MGA
Easting
MGA
RL
MGA
Azimuth
Dip Max
Depth
From To Interval
(m)
Grade
(g/t)
Gram
metre
Date
Released
RVRC16084 6706730 264605 438 270 -60 60 21 22 1 1.11 1.1 25/01/2017
27 31 4 1.81 7.2
38 40 2 1.84 3.7
56 58 2 3.17 6.3
RVRC16085 6706730 264625 438 270 -60 108 38 39 1 1.12 1.1 25/01/2017
49 51 2 1.51 3
79 81 2 3.35 6.7
RVRC16117 6707020 264595 440 270 -60 162 43 44 1 1.81 1.8 25/01/2017
101 104 3 2.51 7.5
113 114 1 6.54 6.5
118 119 1 2.84 2.8
125 128 3 1.25 3.8
138 140 2 5.88 11.8
Including 139 140 1 10.61 10.6
155 156 1 3.24 3.2
RVDD16042 6706790 264660 441 270 -60 149 62.4 64 1.6 1.87 3.0 25/01/2017
72 82 10 1.65 16.5
113 114 1 1 1.0

JORC CODE, 2012 EDITION – TABLE 1 REPORT TEMPLATE

Section 1 Sampling Techniques and Data

Information for historical (Pre Eastern Goldfields Limited from 1996 and 2001) drilling and sampling has been extensively viewed and validated where possible. Information pertaining to historical QAQC procedures and data is incomplete but of a sufficient quality and detail to allow drilling and assay data to be used for resource estimations. Further, Eastern Goldfields Limited has undertaken extensive infill and confirmation drilling which confirm historical drill results. Sections 1 and 2 describe the work undertaken by Eastern Goldfields Limited and only refer to historical information where appropriate and/or available.

Criteria JORC Code
**explanation **
Commentary
Sampling
techniques

Nature and quality of sampling
(eg cut channels, random chips,
or specific specialised industry
standard measurement tools
appropriate to the minerals
under investigation, such as
down hole gamma sondes, or
handheld XRF instruments, etc).
These examples should not be
taken as limiting the broad
meaning of sampling.

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.

Croesus Mining N.L; All samples were dried, crushed and split to obtain a sample less
than 3.5kg, and finely pulverised prior to a 50gm charge being collected for analysis by
fire assay.

Monarch Gold Mining Company Ltd; Industry standard work. RC samples collected and
sent to certified laboratories for crushing, pulverising and assay by fire assay (RC) and
aqua regia (RAB).

Pancontinental Mining Ltd; Samples (>2kg) were crushed to 1mm, 1kg split taken and
pulverised to 90% minus 20 mesh from which a 50gm aliquot was taken for assay by
aqua regia or fire assay.

Consolidated Gold N.L/DPPL(Davyhurst Project PTY. LTD.); Industry standard work, RAB
samples crushed, pulverised and a 50g charge taken for fire assay. 200gm soil samples
oven dried, and pulverised, 50g charge taken for aqua regia assay.

Riverina Resources Pty Ltd; Industry standard work. RAB samples taken every metre,
composited to 4m using a spear. Samples crushed, pulverised and 50g charge taken for
fire assay. RC four metre composite samples were collected using a sample spear. RC
and diamond samples crushed, pulverised and 50g charge taken for fire assay and/or 4
acid digest. Any gold anomalous 4m composite samples were re-sampled over 1m
intervals using a riffle splitter and also sent to Kalgoorlie Assay Laboratory for gold
analysis by 50g fire assay.

Barra Resources Ltd; Industry standard work. The entirety of each hole was sampled.
Each RC and RAB hole was initially sampled by 4m composites using a spear or scoop. To
obtain a representative sample, the entire 1m sample was split using a riffle splitter into
a calico bag. Whole diamond core samples for ore zones were sampled. Entire samples
were pulverised before splitting and a 50g charge taken for fire assay.

Carpentaria Exploration Company Pty Ltd; Samples were collected over 1m intervals.
1m, 2m and 4m composite samples taken depending on the rock type. Composite
samples were collected using a sample spear. About 2kg samples were despatched for
analysis. Samples crushed, pulverised and a 50g charge taken for fire assay.

Malanti Pty Ltd; Industry standard work. 1m samples were collected via a cyclone and
passed through a triple splitter giving a 12.5% split of about 2kg. A trowel was used to
scoop the samples for composites over 4m and 6m intervals. Samples for assay were
then taken with composite intervals based on geology. Many of the single splits were
selected for assay in the first instance. Samples packed in poly weave bags were
freighted for analysis. Sample crushed, pulverised and a 50g charge taken for fire assay.

Riverina Gold Mines NL; Industry standard work, Composited RAB and 1m RC samples
assayed by laboratory. Samples crushed, pulverised and a 50g charge taken for aqua
regia analysis.

Riverina Gold NL; RAB samples were bulked at 2m intervals. RC holes were sampled at
1m intervals. Diamond core samples were taken at geological boundaries, sample
method unknown. All samples crushed, pulverised and a charge taken for fire assay (Au)
and perchloric acid digest/AAS for other elements.

Eastern Goldfields Limited (EGL) - 1m RC samples using face sampling hammer with
samples collected under cone splitter. 1m composite samples were dispatched for
pulverising and 50g charge Fire Assay. Half core samples, cut by saw. Core sample
intervals selected by geologist and defined by geological boundaries. Samples are
crushed, pulverized and a 40g charge is analysed by Fire Assay
Drilling
techniques

Drill type (eg core, reverse
circulation, open-hole
hammer, rotary air blast,
auger, 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).

Croesus Mining N.L; Auger samples were drilled by Prodrill Pty Ltd using Toyota
mounted auger rig. RAB holes were drilled by either Kennedy, or Arronika or Challenge
Drilling of Kalgoorlie. Challenge drilling employed a custom built RAB/AC rig. RC holes
were drilled by Ausdrill Pty Ltd and diamond holes were drilled by Sandersons. Core was
oriented.

Monarch Gold Mining Company Ltd; Aircore and RAB holes were drilled by Challenge
Drilling. All RC holes were drilled by Kennedy Drilling Contractors with 51/2” hammer.

Pancontinental Mining Ltd; Drilling was undertaken by Davies Drillling of Kalgoorlie using
a Schramn T64 rig.

Consolidated Gold N.L/DPPL;Auger samples were collected usingapower auger fitted
Criteria JORC Code
**explanation **
Commentary
to a 4WD vehicle. RAB drilling was undertaken by Bostech Drilling Pty Ltd.

Riverina Resources Pty Ltd; RC holes drilled with 51/4” hammer. Unknown diamond core
diameter.

Barra Resources Ltd; Holes were drilled by Resource Drilling Pty Ltd using a Schramm
450 drill rig.

Carpentaria Exploration Company Pty Ltd; RC drilling by Robinson contractors. Face
sampling hammer used.

Malanti Pty Ltd; Holes were drilled by Redmond Drilling of Kalgoorlie using a truck
mounted Schramm rig with a compressor rated at 900 cfm 350 psi.

Riverina Gold Mines NL; Vacuum holes were drilled by G & B Drilling using a Toyota
Landcruiser mounted Edsom vacuum rig fitted with a 2 inch (5.08cm) diameter blade.
RAB holes were drilled by PJ and RM Kennedy using a Hydro RAB 50 drill rig mounted on
a 4 wheel Hino truck with 600 cfm/200 PSI air capacity. A 51/4 inch hammer and blade
were used. RC holes were drilled by either Civil Resources Ltd using an Ingersoll Rand
T4W heavy duty percussion rig fitted with a 900 cfm at 350 PSI air compressor and a
51/4 inch (13,34cm diameter) RC hollow hammer or by Swick Drilling using an Ingersoll
Rand TH 60 reverse circulation drill rig with 750 cfm/350 PSI air capacity and a 51/4 inch
RC hollow hammer or by B. Stockwell of Murray Black’s Spec Mining Services using a rig
mounted on an 8 x 4 Mercedes.

Riverina Gold NL; RC hole were drilled by Green Drilling using Schramm T66 rig.
Diamond holes were drilled by Longyear. Diamond holes were sometimes drilled with a
RC pre-collar, HQ core and a NQ2 core drilled.

EGL - 5 inch diameter RC holes using face sampling hammer with samples collected
under cone splitter. HQ3 coring to approx. 40m, then NQ2 to BOH. All core oriented by
reflex instrument.
Drill
sample
recovery

Method of recording and
assessing core and chip sample
recoveries and results
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 to
preferential loss/gain of
fine/coarse material.

Auger, RAB and RC drill recoveries were not recoded by Croesus Mining N.L, Monarch
Gold Mining Company Ltd, Pancontinental Mining Ltd, Consolidated Gold N.L/DPPL,
Riverina Resources Pty Ltd, Barra Resources Ltd, Carpentaria Exploration Company Pty
Ltd, Malanti Pty Ltd, Riverina Gold Mines NL or Riverina Gold Mines NL. However
Monarch, in a Riverina resource report state that “Good recoveries for RMRC series RC
drilling were observed. Minor water was encountered in 27 of the RMRC series drill
holes”

Diamond Core recoveries are very high due to the competent ground. Any core
recovery issues are noted on core blocks and logged.

EGL - Diamond drill recoveries are recorded as a percentage calculated from measured
core against downhole drilled intervals (core blocks).

There is no known relationship between sample recovery and grade.
Logging
Whether core and chip
samples have been
geologically and
geotechnically logged to a
level of detail to support
appropriate Mineral Resource
estimation, mining studies and
metallurgical studies.

Whether logging is qualitative
or quantitative in nature. Core
(or costean, channel, etc)
photography.

The total length and
percentage of the relevant
intersections logged.

Croesus Mining N.L; RAB drill logs were recorded both on paper and later electronically
by a Casiopia datalogger. Diamond core was geologically, geotechnically and magnetic
susceptibility logged. Qualitative: alteration, colour, contact, grainsize, joint, matrix,
texture, rocktype, mineral, structure, sulphide, percent sulphide, vein type, percent vein,
weathering. Quantitative; percent sulphide, percent vein. Diamond core was
photographed.

Monarch Gold Mining Company Ltd; Qualitative: lithology, mineralisation code,
alteration, vein code, sulphide code. Quantitative; percent mineralisation, alteration
intensity, percent vein, percent sulphide.

Pancontinental Mining Ltd; All drill data was recorded on computer forms and the
lithological descriptions were produced by Control Data’ Bordata program. Qualitative:
colour, weathering, minerals, grainsize, rock, structure, alteration. Quantitative:
alteration intensity.

Consolidated Gold N.L/DPPL; Holes were logged at 1m intervals using a standard logging
sheet directly onto a palmtop logger. Qualitative: colour, weathering, minerals,
grainsize, rock, structure, alteration. Quantitative: alteration intensity.

Riverina Resources Pty Ltd; Qualitative: lithology, minerals, oxidation, colour, grain,
texture, texture intensity, alteration, sulphide, comments. Quantitative: alteration
intensity, percent sulphide, percent quartz veins.

Barra Resources Ltd; Each meter from all RC drill holes was washed, sieved and collected
in chip trays and stored at the Barminco First Hit Mine office. These rock chips were
geologically logged using the Barminco Pty Ltd geological logging codes. This data was
manually recorded on logging sheets or captured digitally using a HP Jornada hand held
computer utilising the Micromine Field Marshall program and entered into a digital
database at the Barminco First Hit Mine office. Each diamond drill holes was recovered
according to the driller’s core blocks and metre marked. The core was logged to the
centimetre, and samples were marked up accordingly. The core was geologically logged
using the Barminco Pty Ltd geological logging codes. This data was manually recorded
on logging sheets in the field and entered into a digital database at the Barminco First
Hit Mine office. Qualitative: qualifier, lithology, mineralisation, alteration, grain size,
texture, colour, oxidation. Quantitative; percentage of quartz and sulphide. Core was
photographed.
Criteria JORC Code
**explanation **
Commentary

Carpentaria Exploration Company Pty Ltd; Qualitative: description. Quantitative;
percent oxidation, percent quartz, percent pyrite.

Malanti Pty Ltd; Qualitative: description. Quantitative; percent quartz. Logged on a
metre basis.

Riverina Gold Mines NL; Qualitative for Vacuum holes: colour, grain size, alteration
minerals, rock type, structure, vein type, sulphides, oxidation and comments.
Quantitative for Vacuum holes; percent veins, percent sulphides. Qualitative for RAB
holes and RC holes from RV110 to RV295: colour, grain size, alteration minerals, rock
type, fabric, vein type, sulphides, oxidation and comments. Quantitative RAB holes and
RC holes from RV110 to RV295; percent veins, percent sulphides. Qualitative for RC
holes from RV296 to RV350: geology, oxidation, colour and description. Quantitative for
RC holes from RV296 to RV350; percent quartz.

Riverina Gold NL; Qualitative: RQD, lithology, mineralisation, alteration, weathering,
veining, fracturing. Quantitative: percent quartz.

EGL - Qualitative: Lithology, colour, oxidation, grainsize, texture, structure, hardness,
regolith. Quantitative: estimates are made of quartz veining, sulphide and alteration
percentages. Core photographed.

All holes were geologically logged in their entirety to a level of detail to support mineral
resource estimation.
Sub-
sampling
techniques
and sample
preparation

If core, whether cut or sawn
and whether quarter, half or
all core taken.

If non-core, whether riffled,
tube sampled, rotary split, etc
and whether sampled wet or
dry.

For all sample types, the
nature, quality and
appropriateness of the sample
preparation technique.

Quality control procedures
adopted for all sub-sampling
stages to maximise
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 the grain size of
the material being sampled.

Croesus Mining N.L; Auger samples were taken from an average depth of 1.5m to 2m.
RAB and Aircore samples were collected in buckets below a free standing cyclone and
laid out at 1m intervals in rows of tens adjacent to the drill collar. Composite analytical
samples (~3.5kg) were initially collected over 5m intervals for each hole and a 1m
bottom of hole analytical sample. Analytical composite samples were formed by taking
a representative scoop through each 1m drill sample. RC drill samples were collected in
large plastic retention bags below a freestanding cyclone at 1m intervals, with analytical
samples initially formed by composite sampling over 5m intervals. Where samples were
dry, analytical composites were formed by spear sampling, using a 50mm diameter
plastic pipe pushed through the drill cuttings in the sample retention bag to the base of
the bag. The pipe is removed carefully with the contents of the pipe containing a
representation of the retained metre. Wet RC drill samples where thoroughly mixed in
the sample retention bag and ‘scoop’ sampled to form a 5m composite sample. HQ
diamond core was cut into halves and sampled on geological boundaries, to a minimum
of 20cm samples or on a metre basis on site. The diamond core was cut using a
diamond saw, with half core being submitted to the laboratory for analysis and the
other stored. Field samples were taken for RAB, RC and diamond core samples at a rate
of 1 in 20. Composite analytical samples returning values greater than 0.1 g/t Au were
re-sampled at 1m intervals.

Monarch Gold Mining Company Ltd; Drill hole samples were collected at 4m and 3m
composite intervals. All samples at ALS Kalgoorlie were sorted, dried, split via a riffle
splitter using the standard splitting procedure laboratory Method Code SPL-21,
pulverised in a ring mill using a standard low chrome steel ring set to >85% passing 75
micron. If sample was >3 kg it was split prior to pulverising and the remainder retained
or discarded. A 250g representative split sample was taken, the remaining residue
sample stored and a 50gm sample charge was taken for analysis. All samples at Ultra
Trace Pty Ltd were sorted, dried, a 2.5 – 3kg sample was pulverized using a vibrating
disc, was split into a 200-300g subsample and the residue sample stored. A 40grm
charge was taken for analysis. Composite samples returning anomalous values were
sampled at 1m intervals using a scoop. For both RC and RAB drilling a duplicate sample
was collected at every 25th sample, and a standard sample was submitted every 20th
sample.

Pancontinental Mining Ltd; RC samples were collected in plastic bags directly from the
cyclone at 1m intervals, split twice through a sample splitter before splitting off a 2kg
sample for analysis. Samples were crushed to 1mm, 1kg split taken and pulverised to
90% minus 20 mesh from which a 50gm aliquot was taken. Field samples were taken at
a rate of 1 in 10 and results show a good correlation with the original values. Samples
sent to SGS were dried, jaw and roll crushed, split and pulverised in a chromium steel
mill.

Consolidated Gold N.L/DPPL; Auger samples were collected at a nominal depth of 1.5m
or blade refusal. Approximately 200gm of material was placed into pre-numbered paper
geochemical bags. Sample numbers were entered into a datalogger linked to the GPS
unit to ensure accuracy. RAB samples were collected a 1m intervals and used to create a
4m composite sample. Samples were oven dried, pulverised in a single stage grinding
bowl until about 90% of the material passed 75 micron. A 50gm split sample was taken
for analysis. Composite samples returning values greater than 0.19 Au g/t were sampled
at 1m intervals.

Riverina Resources Pty Ltd; Auger soil samples were collected from a depth of 1.8m or
blade refusal. RAB and RC 4m composites were taken using a sample spear. Samples
were dried, crushed, split, pulverised and a 50gm charge taken. Composite samples
returning anomalous gold values were sampled at 1m intervals using a sample spear.

Barra Resources Ltd; Every metre of the drilling was collected through a cyclone into a
largegreenplastic bagand lined upin rows near the hole in rows of 20. The entiretyof
Criteria JORC Code
**explanation **
Commentary
each hole was sampled. Each hole was initially sampled by 4m composites using a spear
or scoop. Once each hole was logged, intervals considered to be geologically significant
were re-sampled at 1m intervals. To obtain a representative sample, the entire 1m
sample was split using a riffle splitter into a calico bag. Whole diamond core samples for
ore zones were sampled. Samples greater than 2.5kg were riffle split to <2.5kg using a
Jones riffle splitter. The entire sample was then pulverised in a Labtechnics LM5 to
better than 85% passing 75 microns. A 50gm pulp was taken for assaying in
appropriately numbered satchels. Composite samples that returned gold assays greater
than 0.1 g/t Au and that had not been previously sampled at 1m intervals, were re-
sampled at 1m intervals. In addition, any highly anomalous 1m samples were also
sampled again to confirm their assay results.

Carpentaria Exploration Company Pty Ltd; Samples were collected over 1m intervals.
2m and 4m composite samples were collected using a sample spear. About 2kg samples
were despatched for analysis. Samples were dried, crushed, split, pulverised and a
charge taken for analysis_._

Malanti Pty Ltd; 1m samples were collected in plastic bags via a cyclone and passed
through a triple splitter giving a 12.5% split of about 2kg which was placed in a calico bag
and marked with the drill hole number and interval sampled. The 87.5% was returned
to the similarly numbered large plastic bag and laid in rows on site. A trowel was used
to scoop the samples for composites over 4m and 6m intervals. Samples for assay were
then taken with composite intervals based on geology. Many of the single splits were
selected for assay in the first instance. Samples packed in poly weave bags were
freighted for analysis. Samples were dried, crushed, split, pulverised and a 50gm charge
taken. RC Samples with anomalous composite assays were split and submitted for
analysis.

Riverina Gold Mines NL; Vacuum hole samples were collected every metre and split.
RAB samples were taken every metre through a cyclone and riffle split to a quarter and
composited to 4m intervals. RC samples were taken every metre through a cyclone
after being riffle split to a quarter and some composited to 4m. The residue remained
on site in plastic bags whilst the quarter split was sent for analysis. For vacuum holes
RVV70 to RVV125, a 30grm was taken. RC samples from holes RV110 to RV164 and
vacuum hole samples were dried, crushed to nominal 3mm and a 1,000 grm split was
taken for pulverising until 90% passed minus 75 microns. A 25grm charge was taken. RC
samples from holes RV230 to RV350 were totally pulverised and a 50 grm charge taken.
4m RAB composite samples returning anomalous values greater than 0.1 g/t Au were
sampled at 1m intervals.

Riverina Gold NL; RAB samples were bulked at 2m intervals. RC holes were sampled at
1m intervals. Diamond core samples were taken at geological boundaries. Samples
were crushed, split, pulverised and a charge taken for analysis.

EGL - Samples were submitted as individual samples taken onsite from cone splitter. Half
core samples, cut by saw. Core sample intervals selected by geologist and defined by
geological boundaries. RC samples were dried, crushed, split, pulverised and a 50gm
charge taken. Field duplicates, blanks and standards were submitted for QAQC analysis.

Repeat assays were undertaken on pulp samples at the discretion of the laboratory.
Quality of
assay data
and
laboratory
tests

The nature, quality and
appropriateness of the
assaying and laboratory
procedures used and whether
the technique is considered
partial or total.

For geophysical tools,
spectrometers, handheld XRF
instruments, etc, the
parameters 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)
and precision have been
established.

Croesus Mining N.L; Auger samples were sent to Ultratrace Laboratories, Perth, to be
assayed for gold using the Aqua Regia method with a detection limit of 1ppb. RAB,
aircore, RC and diamond samples were sent to Ultratrace Laboratories in Perth to be
analysed for gold using Fire assay/ICP Optical Spectrometry. Diamond core check
samples were analysed at Genalysis of Perth. Some diamond core samples were also
analysed for platinum and palladium by fire assay.

Monarch Gold Mining Company Ltd; RC samples were sent to ALS Kalgoorlie to be
analysed gold by fire assay (lab code Au-AA26). This was completed using a 50grm
sample charge that was fused with a lead concentrate using the laboratory digestion
method FA-Fusion and digested and analysed by Atomic Absorption Spectroscopy
against matrix matched standard. RC samples were also sent to Ultra Trace Pty Ltd,
Canning Vale Western Australia for gold analysis by lead collection fire assay. Samples
were also analysed for palladium and platinum. The Quality control at ALS involved 84
pot fire assay system. The number and position of quality control blanks, laboratory
standards and repeats were determined by the batch size. Three repeat samples were
generally at position 10, 30, 50 of a batch and the control blanks (one blank) at the start
of a batch of 84 samples. The laboratory standards were inserted randomly and usually
two certified internal standards were analysed with a batch, but it was at the discretion
of the ‘run builder’ as to how many standards to add to the batch and where to place
them in the run. QAQC at Ultra Trace Pty Ltd was undertaken for every 27th sample. At
random, two repeat samples were chosen, one laboratory standard was inserted and
one check sample was taken. The check sample was chosen if the first pass of fire assay
shows anomalous value.

Pancontinental Mining Ltd; Samples were sent to Genalysis Laboratory Services Pty Ltd
in Perth to be analysed for gold with a detection limit of 0.01 ppm. They were also
analysed for gold at SGS laboratory using aqua regia with AAS finish. A number of
samples with an assay greater than 0.2 ppm were re-assayed by fire assay. Laboratory
standards indicated reasonable accuracy.
Criteria JORC Code
**explanation **
Commentary

Consolidated Gold N.L/DPPL; Auger samples were submitted to ALS Pty Ltd in Perth to
be analysed for gold to a detection limit of 0.001ppm using ALS’s PM2005 graphite
furnace/AAS technique. Samples were also analysed for calcium, magnesium and
arsenic using ALS’s IC205 technique. RAB samples were submitted to Minlab Pty Ltd
Kalgoorlie to be analysed for gold by fire. Some samples were also sent to Amdel
Laboratories Ltd Kalgoorlie for gold analysis by fire assay method FAI.

Riverina Resources Pty Ltd; Auger soil samples were sent to Ultra Trace in Perth to be
analysed for gold and arsenic using an aqua regia digest and determination by ICP-MS.
RC samples were submitted to Kalgoorlie Assay Laboratory for gold analysis by 50gm fire
assay. Samples from holes GNRC012 to GNRC020 were also sent Kalgoorlie Assay
Laboratory for gold and nickel analysis using a four-acid digest and gold analysis by 50g
fire assay. Martin Zone samples were to Kalgoorlie Assay Laboratories to be assayed Ni,
Co, Cr, Cu, Mg, Mn, Fe, S, As, Al, Ca, and Zn using a four acid digest with ICP-OES finish
and for Au using a 50gm fire assay digest with flame AAS finish. Some samples were also
sent to Ultra Trace in Perth for analysis. 312 end of hole RAB samples from the
Forehand Prospect were sent to AusSpec International in Sydney for HyChips spectral
analysis developed by AusSpec International and CSIRO capable of analyzing dry samples
stored in chip trays at a rate of at least 1,600 per day. This was undertaken to identify
alteration minerals, weathered clays, Fe oxides, and weathering intensity as well as
sample mineralogy including mineral crystallinity and mineral composition. (Results are
in appendix 4 of Riverina Project Combined ATR 2006.pdf). Down Hole Electro-Magnetic
(DHEM) surveys were conducted in RC drill holes GNRC001, GNRC003 and GNRC004 and
three diamond drill holes. These surveys were completed by Outer Rim Exploration
Services using a Crone Pulse EM probe. (Southern Geoscience Consultants were
contracted to plan the DHEM surveys and interpret the results).

Barra Resources Ltd; Auger samples were sent to Ultra Trace Analytical Laboratories in
Perth to be analysed for gold and arsenic. Gold was determined by Aqua Regia with ICP-
Mass Spectrometry to a detection limit of 0.2ppb. All RC pulp samples were sent to
Kalgoorlie Assay Laboratories or Australian Laboratory Services Pty Ltd (ALS) in
Kalgoorlie for gold analysis. Gold analysis was completed using the 50gm fire assay
technique with an AAS finish to a detection limit of 0.01ppm. Each was weighed and
data captured, with the charge then intimately mixed with flux. Mixed sample and flux
were fused in a ceramic crucible at 1100o C in a reducing furnace. Molten mass was
then poured into moulds and allowed to cool. Lead button removed and placed in a
cupellation furnace. The resultant dore bead was parted and digested, being made up
to volume with distilled water. The analyte solution was aspirated against known
calibrating standards using AAS. All diamond core sample pulps were sent to Leonora
Laverton Assay Laboratory Pty Ltd to be assayed for gold by fire with an AAS finish to a
detection limit of 0.01ppm Au. Some drill hole samples were analysed for gold (Fire
assay/ICP Optical Spectrometry) by Ultratrace Laboratories in Perth.

Carpentaria Exploration Company Pty Ltd; Samples were sent to Australian Assay
Laboratories Group in Leonora to be analysed for gold with a detection limit of 0.01 g/t
Au by fire assay. Repeat assays undertaken for about 1 sample in 20. Field duplicates
and standards routinely submitted with assay batches.

Malanti Pty Ltd; RC samples from RRC1 to RRC7 holes were sent to Aminya Laboratories
Pty Ltd, Ballarat, Victoria, to be analysed for gold by fire assay with a detection limit of
0.01 g/t Au. RC samples from holes RRC8 to RRC12 submitted to Minesite Reference
Laboratories, Wangara, Western Australia to be analysed for gold by Fire Assay of 50g
charge (code FA50) with a 0.01ppm lower detection limit. About 1 in 20 assays was
either a repeat or duplicate.

Riverina Gold Mines NL; RC samples from holes RV110 to RV164 and vacuum hole
samples were sent to Leonora Laverton Assay Laboratory Pty Ltd, Leonora, to be
analysed for gold. The charge was dissolved in aqua-regia/solvent digest with a double
ketone backwash and then assayed using AAS techniques with a detection limit of
0.02ppm. RC samples from holes RV230 to RV350, vacuum samples from holes RVV126
to RVV204 and RAB composite samples were sent to Multilab Pty Ltd in Kalgoorlie to be
analysed for gold. The 50grm samples were digested in aqua regia and assayed by AAS
techniques with a detection limit of 0.01ppm. Other RC samples were sent to Minlab in
Perth to be analysed for gold using the aqua regia digest and AAS finish. For vacuum
and RAB samples, about 1 in 10 assays was a repeat. For RC holes from RV110 to RV164
and vacuum holes, at least 10 percent of a bulk order was repeated as a laboratory
duplicate for quality control.

Riverina Gold NL; RAB samples were analysed for gold, silver, arsenic, lead, zinc, copper
and nickel. RC samples were despatched to Genalysis to be analysed for gold by Aqua
Regia/ AAS method. Diamond samples were set to Analabs in Kalgoorlie to be analysed
for gold by fire with fusion AAA, copper, lead and silver by ASS with perchloric acid
digestion and, arsenic by ASS with vapour generation and density using an air
pynometer.

EGL – Samples are sent to commercial accredited laboratories. The samples have been
analysed by firing a 50gm portion of the sample. This is the classical fire assay process
and will give total separation of gold. An ICPOES finish is used. Commercially prepared
standard samples and blanks are inserted in the sample stream at a rate of 1:10. Sizing
results(percentage ofpulverised samplepassinga 75μm mesh)are undertaken on
Criteria JORC Code
**explanation **
Commentary
approximately 1 in 40 samples. The accuracy (standards) and precision (repeats) of
assaying are acceptable.

Fire assay is considered a total technique, Aqua Regia is considered partial.
Verification
of
sampling
and
assaying

The verification of significant
intersections by either
independent or alternative
company personnel.

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.

Holes are not deliberately twinned.

EGL - Geological and sample data logged directly into field computer at the core yard
using Field Marshall. Data is transferred to Perth via email and imported into Geobank
SQL database by the database administrator (DBA). Assay files are received in .csv
format and loaded directly into the database by the DBA. Hardcopy and/or digital copies
of data are kept for reference if necessary.

Monarch Gold Mining Company Ltd; Geological and sample data was logged digitally and
.csv or .xls files imported into Datashed SQL database with in-built validation. Samples
bags were put into numbered plastic bags and then cable tied. Samples collected daily
from site by laboratory.

Data entry, verification and storage protocols for remaining operators is unknown.

No adjustments have been made to assay data.
Location of
data points

Accuracy and quality of
surveys used to locate drill
holes (collar and down-hole
surveys), trenches, mine
workings and other locations
used in Mineral Resource
estimation.

Specification of the grid system
used.

Quality and adequacy of
topographic control.

Croesus Mining N.L; All drilling was located using a Trimble/Omnistar DGPS with an
accuracy of plus or minus 1m. Down hole surveys were either as planned or taken using
electronic multi shot camera. The gird system used is AGD 1984 AMG Zone 51.

Monarch Gold Mining Company Ltd; The collar co-ordinates of aircore and RAB holes
and RC holes RMRC001 to RMRC085 were surveyed using GPS. The co-ordinates of
holes RMRC086 to RMRC177 were surveyed using the RTKGPS. All surveying was
undertaken by staff of Monarch Gold Mining Company Ltd. Down hole surveys were
undertaken every 5m by Ausmine using electronic multi-shot (EMS). The gird system
used is GDA94 MGA Zone 51.

Pancontinental Mining Ltd; RC drilling at Mulwarrie was surveyed by McGay Surveys.
The grid system used is AMG Zone 51. RAB drilling at Riverina South – holes drilled on
local Riverina grid and transformed to MGAa using 2 point transformation. Holes were
not routinely downhole surveyed.

Consolidated Gold N.L/DPPL; Auger holes located on AMG grid.Some RAB holes were
drilled on an AMG grid installed by Kingston Surveys Pty Ltd of Kalgoorlie. Each 40m grid
peg had an accurate (plus or minus 10 cm) northing, easting and elevation position.
Other RAB holes drilled on local grid. Holes located using compass and hip chain from
surveyed baselines. The grid system used is AMG Zone 51. RAB holes not down hole
surveyed

Riverina Resources Pty Ltd; Collar co-ordinates were surveyed using a DGPS. Collar
azimuth and inclination were recorded. Downhole surveys for most GNRC holes was by
single shot and on rare occasions by gyro. Diamond holes surveyed by electronic
multishot. The gird system used is AGD 1984 AMG Zone 51.

Barra Resources Ltd; Collar co-ordinates for northings, eastings and elevation have been
recorded. Collar azimuth and inclination were recorded. Drill hole collar data was
collected by the First Hit mine surveyor and down hole data was collected by the drilling
company and passed onto the supervising geologist. The gird system used is AGD84
Zone 51.

Carpentaria Exploration Company Pty Ltd; A local Riverina South grid was employed to
record collar coordinates. Holes were not downhole surveyed. Local co-ordinates were
transferred to the AMG and MGA grids using a 2-point transformation.

Malanti Pty Ltd; Collar locations of re-sampled RAB holes were noted using a GPS. Holes
were not downhole surveyed. Two grid systems were employed; a local Riverina grid
and AGD 1996 AMG Zone 51. Local co-ordinates were transferred to the AMG and MGA
grids using a 2-point transformation.

Riverina Gold Mines NL; Collar co-ordinates for northings and eastings and have been
recorded. Collar inclination was recorded. The grid used was the Riverina grid which is
oriented to true north. The origin for this grid is 10,000N, 10,000E located at the south
west corner of surveyed M30/98.

Riverina Gold NL; For diamond holes, down hole surveys were either assumed or taken
using an Eastman camera or gyro. Diamond hole locations surveyed on Riverina local
grid. RC and RAB holes located on surveyed Riverina local grid.

Topography has been surveyed by recent operators. Collar elevations are consistent
with surrounding holes and the natural surface elevation.

EGL (RC, DD) MGA95, zone 51. Drill hole collar positions are picked up using a Trimble
DGPS subsequent to drilling. Drill-hole, downhole surveys are recorded every 30m using
a reflex digital downhole camera. Some RC holes not surveyed if holes short and/or
drilling an early stage exploration project.
Data
spacing

Data spacing for reporting of
Exploration Results.

Whether the data spacing and

Exploration results are reported for single holes only.

Drill hole spacing is adequate for the current resources reported externally. (Examples
are discussed below)
Criteria JORC Code
**explanation **
Commentary
and
distribution
distribution is sufficient to
establish the degree of
geological and grade
continuity appropriate for the
Mineral Resource and Ore
Reserve estimation
procedure(s) and
classifications applied.

Whether sample compositing
has been applied.

Croesus Mining N.L; Auger samples were collected to infill a 250m x 100m grid, Riverina
South RAB samples were collected to infill a 400m x 80m grid and Sunraysia RC drilling
was completed on a 40m x 200m grid.

Monarch Gold Mining Company Ltd; RAB holes were drilled on 200m x 40m grids and RC
holes were drilled on a 20m x 20m and 40m x 20m grids.

Riverina Resources Pty Ltd; Auger soil sampling program was taken over 50m x 50m,
50m x 100m and 50m x 200m spaced grids, Silver Tongue RAB and RC holes were drilled
on 25m x 25m, 25m x 50m and 50mx 50m spaced grids and Corporate James RAB holes
were drilled on 50m x 100m and 25m x 100m spaced grids.

Barra Resources Ltd; Auger soil sampling program was taken over 50m x 50m, 50m x
100m and 50m x 200m spaced grids, Silver Tongue RAB and RC holes were drilled on
25m x 25m, 25m x 50m and 50m x 50m spaced grids, Corporate James RAB holes were
drilled on 50m x 100m and 25m x 100m spaced grids, Forehand RAB and RC holes were
drilled on 50m x 100m, 50m x 50m or 25m x 50m spaced grids and Cactus RC holes were
drilled on 10m x 10m, 20m x 20m and 40m x50m spaced grids.

Drill intercepts are length weighted, 1g/t lower cut-off, not top-cut, maximum 2m
internal dilution.
Orientation
of data in
relation to
geological
structure

Whether the orientation of
sampling achieves unbiased
sampling of possible structures
and the extent to which this is
known, considering the deposit
type.

If the relationship between the
drilling orientation and the
orientation of key mineralised
structures is considered to
have introduced a sampling
bias, this should be assessed
and reported if material.

Drilling was oriented at 90o to the strike of mineralisation and inclined at 60o. Examples
are discussed below.

Croesus Mining N.L; Holes were either vertical or inclined at 60o and oriented towards
the west.

Monarch Gold Mining Company Ltd; Holes were inclined at 60o and oriented towards
the west.

Consolidated Gold N.L/DPPL; Holes were inclined at 60o and oriented towards either the
west or east.

Riverina Resources Pty Ltd; Holes were inclined at 60o and oriented towards either the
west or east.

Barra Resources Ltd; Holes were either vertical or inclined at 60o and oriented towards
the west.

Carpentaria Exploration Company Pty Ltd; Holes were inclined at 60o and oriented
towards either the west or east.

Malanti Pty Ltd; Holes were inclined at 60o and oriented towards either the west or
east.

Riverina Gold Mines NL; Vacuum holes from RVV1 to RVV69 and from RVV126 to
RVV204 were drilled vertically. Vacuum holes from RVV70 to RVV125 were inclined at
60o and oriented either east or west. RAB and RC holes were inclined at 60o and
oriented either east or west.

Riverina Gold NL; RC holes were inclined at 60o and oriented either east or west.

EGL – Drilling predominately inclined at 60 degrees towards the west.
Sample
security

The measures taken to ensure
sample security.

Unknown for all drilling except for the following;

Barra Resources Ltd. Samples received at the laboratory were logged in ALS Chemex’s
unique sample tracking system. A barcode was attached to the original sample bag. The
label was then scanned and the weight of sample recorded together with information
such as date, time, equipment used and operator name.

Monarch; Sample calicos were put into numbered plastic bags and cable tied. Any
samples that going to SGS were collected daily by the lab. Samples sent to ALS were
placed into sample crates and sent via courier on a weekly basis.

EGL - Samples were bagged, tied and in a secure yard. Once submitted to the
laboratories they are stored in cages within a secure fenced compound. Samples are
tracked through the laboratory via their LIMS.
Audits or
reviews

The results of any audits or
reviews of sampling
techniques and data.

EGL has reviewed historic digital data and compared it to hardcopy and digital (Wamex)
records.

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

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
and land

Type, reference
name/number,

Riverina Tenements are wholly owned by either Barra Resources Ltd or Carnegie Gold Pty Ltd.,
both of which a wholly owned subsidiaries of Eastern Goldfields Limited. See tenement listing
Criteria JORC Code
**explanation **
Commentary
tenure
status
location and
ownership including
agreements or
material issues with
third parties such as
joint ventures,
partnerships,
overriding royalties,
native title interests,
historical sites,
wilderness or
national park and
environmental
settings.

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.
below.

REGISTERED
HOLDER
TENEMENTS
BARRA RESOURCES
LTD
E 30/333,P 30/1021,P 30/1024
CARNEGIE GOLD
PTY LTD
E30/332, E30/336, E30/464, E30/468, M30/123, M30/127, M30/133,
M30/157, M30/16, M30/178, M30/182, M30/43, M30/60, M30/84,
M30/97, M30/98, P30/1017, P30/1020, P30/1023, P30/1025,
P30/1026, P30/1027, P30/1033, P30/1034, P30/1051, P30/1074,
P30/1111, P30/1112, P30/1113, P30/1114, P30/1115, P30/1116,
P30/1117,P30/1118,P30/1119,P30/1120

There are no native title/heritage issues.

There are no known impediments to obtaining a licence to operate in the area
Exploratio
n done by
other
parties

Acknowledgment and
appraisal of
exploration by other
parties.

Drilling, sampling and assay procedures and methods as stated in the database and confirmed
from Wamex reports and hard copy records are considered acceptable and to industry standards
of the time.
Geology
Deposit type,
geological setting
and style of
mineralisation.

The geology of the Riverina area consists of a sequence of meta-basalts with minor meta-
sediments and meta-ultramafics that have a northerly strike and sub-vertical to steep east dip.
The area has been affected by upper greenschist to lower amphibolite grade metamorphism with
many minerals exhibiting strong preferred orientations. All rock units are foliated with shear
zones common. The most intense shear zones have been locally referred to as mylonite zones.
Contemporaneous strike faults and late stage faults have dislocated these mylonite zones.

Intense mineralisation and alteration at the Riverina underground mine is confined to the
mylonite zones and strike fault systems. Gold mineralisation is intimately associated with quartz
veining and sulphides within a broader mylonite zone that also contains non-mineralised parallel
quartz veins. Elsewhere mineralisation is found in favourable host rocks where intersected by N-S
trending strike faults. Favourable hosts include meta sediments, mafics and mafic/ultramafic
contacts
Drill hole
Informatio
n

A summary of all
information material
to the understanding
of the exploration
results including a
tabulation of the
following information
for all Material drill
holes:
o
easti
ng
and
nort
hing
of
the
drill
hole
colla
r
o
elev
atio
n or
RL
(Red
uced
Level

elev
atio
n
abov
e
sea

See list of drill intercepts.
Criteria JORC Code
**explanation **
Commentary
level
in
metr
es)
of
the
drill
hole
colla
r
o
dip
and
azim
uth
of
the
hole
o
dow
n
hole
lengt
h
and
inter
cepti
on
dept
h
o
hole
lengt
h.

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
aggregatio
n methods

In reporting
Exploration Results,
weighting averaging
techniques,
maximum and/or
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

Original assays are length weighted. Grades are not top cut. Lower cut off is nominally 1g/t.
Maximum 2m internal dilution

Metal equivalents not reported.
Criteria JORC Code
**explanation **
Commentary
should be clearly
stated.
Relationshi
p between
mineralisat
ion widths
and
intercept
lengths

These relationships
are particularly
important in the
reporting of
Exploration Results.

If the geometry of
the mineralisation
with respect to the
drill hole angle is
known, its nature
should be reported.

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’). _

Intercept widths are down hole lengths. True widths are not reported given the varying
orientation of drilling and mineralisation at each deposit/prospect mentioned in the report.

The geometry of the mineralisation at Riverina Mine is approx. N-S and sub vertical. Drilling is
oriented perpendicular the strike of the mineralisation.
Diagrams
Appropriate maps
and sections (with
scales) and
tabulations of
intercepts should be
included for any
significant discovery
being reported These
should include, but
not be limited to a
plan view of drill hole
collar locations and
appropriate sectional
views.

See plans and sections.
Balanced
reporting

Where
comprehensive
reporting of all
Exploration Results is
not practicable,
representative
reporting of both low
and high grades
and/or widths should
be practiced to avoid
misleading reporting
of Exploration
Results.

The location of drill hole intersections is shown on the plans and 3D diagrams and are coloured
according to grade to provide context for the highlighted intercepts
Other
substantiv
e
exploration
data

Other exploration
data, if meaningful
and material, should
be reported including
(but not 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.

There is a current DMP approval for mining at Riverina. This was applied for and granted to
previous operator, Monarch Gold.

There are no known metallurgical issues for Riverina ores
Further
work

The nature and scale
of planned further
work (eg tests for
lateral extensions or
depth extensions or

Infill and extensional drilling at Riverina, Forehand, Silver Tongue, Sunraysia, followed by resource
updates

Assessment of all regional data to develop new exploration targets.
Criteria JORC Code
**explanation **
Commentary
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.