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ORA BANDA MINING LTD Capital/Financing Update 2021

Feb 9, 2021

65475_rns_2021-02-09_8dd136ec-9d4e-4ac8-99af-74c30964706e.pdf

Capital/Financing Update

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ASX Announcement (ASX: OBM)

10 February 2021

Infill Drilling at Riverina South Delivers Further Strong Results Phase 3 Resource Definition Drilling in Progress

HIGHLIGHTS:

  • Ø Assay results returned to date include:

  • 3.0m @ 32.4 g/t from 34m

  • 5.0m @ 10.4 g/t from 21m (Including 2.0m @ 24.8 g/t)

  • 13.0m @ 3.2 g/t from 25m

  • 5.0m @ 7.3 g/t from 51m (Including 2.0m @ 14.0 g/t)

  • 12.0m @ 2.1 g/t from 12m (Including 9.0m @ 2.7 g/t)

  • 15.0m @ 1.6 g/t from 27m (Including 6.0m @ 3.1 g/t)

  • 13.0m @ 1.6 g/t from 35m

  • o 7.0m @ 2.9 g/t from 44m

  • Ø Drilling operations recommenced in mid-January with 7,400m remaining

  • Ø Mineralisation open to the south and at depth

Ora Banda Mining Limited (ASX:OBM) (“Ora Banda”, “Company”) is pleased to announce Riverina South assay results from the infill drilling program that recommenced in December 2020, post the release of the Riverina South Maiden Mineral Resource estimate dated 9 October 2020.

The maiden Mineral Resource for the Riverina South Project is 650,000 tonnes @ 2.1g/t for 43,000 ounces and includes both an open pit component (material constrained within a A$2,400 optimised pit shells with a grade greater than 0.5 g/t Au) and an underground component (includes material that is outside the A$2,400 pit shells with a grade greater than 2.0 g/t Au)[1] .

The objective of this resource infill drilling program is to close the current drill spacing from a nominal 40m x 25m pattern to a 20m x 25m pattern. This close spaced drilling will allow the “inferred” mineral resource to be upgraded to “indicated”. Hole RVRC20193 which returned 5.0m @ 10.4g/t from 21m is on the most southern drill line and therefore the mineralisation remains open to the south and at depth.

Managing Director Comment

Ora Banda Managing Director, David Quinlivan, said: “This project is on track to deliver mine extensions with the deeper drilling ongoing. We are keen to see how the upgraded mineral resource at Riverina South can contribute to the ore stream flowing from main Riverina open pit mining operations. The mining is picking up pace, so the time is now in relation incorporating Riverina South into this larger operation.”

The Riverina South drilling program has targeted a 1km long, highly prospective strike extension corridor immediately south of the main Riverina mining area (Figure 2). Open pit mining commenced here in October 2020 with ore stockpiles building ahead of the ongoing commissioning of the 1.2Mtpa process plant. The Riverina mine has a declared Ore Reserve of 1.4Mt @ 1.8g/t for 81,000 ounces (see Appendix 1).

1 The open pit mineralisation is constrained within an optimised pit shell using a gold price of $2,400 which demonstrates that there is a reasonable expectation that it will become economic. The Company’s choice of AUD$2,400 is to maintain consistency with recent previously reported open pit resources (see Appendix 1).

1 / 23

Drilling recommenced in mid-January 2021 post the Christmas break. This program is the third phase of drilling that has occurred in rapid succession on the Riverina South deposit, which also includes the historical British Lion mine. There is approximately 7,400 metres of reverse circulation drilling remaining in the Phase 3 program. The current program follows on from the Phase 1 exploration RC program (32 drill holes for 3,639 metres) completed in early 2020 to a spacing of 80m x 50m. The Phase 2 RC program totalled 68 holes for 7,338 metres which closed the drill hole spacing down to a 40m x 25m spacing in two discreet areas at Riverina South. The Phase 2 drilling resulted in the declaration of the maiden Mineral Resource. The Riverina South mineralisation is the direct continuation of the gold mineralisation that is currently being mine within the main Riverina Deposit.

About the Riverina and Riverina Deposits

The main Riverina deposit has a current Mineral Resource of 3.7 Mt @ 2.7 g/t Au for 322,000 ounces and an open-pit reserve of 1.4 Mt @ 1.8 g/t Au for 81,000 ounces (see ASX Announcement dated 30 June 2020). Mining commenced in October 2020 with the mine set to provide a substantial amount of ore to the plant in the first half of CY2021. Its high proportion of oxide tonnes make it an attractive early ore source for the company’s Davyhurst Project.

The main mining area hosts mineralisation in three separate Lode systems, namely the Main Lode, Murchison Lode and Reggie Lode. The system covers over 1,000 metres in strike length in a north-south orientation and is approximately 300 metres wide. Open-pit mining at Riverina is scheduled within two separate open pits with planned depths reaching around 110 metres below the current ground surface. The detailed mining study for the Riverina Project area was incorporated into the Davyhurst Project DFS (see ASX announcement dated 30 June 2020).

The Riverina South prospect covers an approximately 1km long prospective corridor immediately along strike to the south of the Riverina deposit, and is host to numerous historic gold workings. It had been sparsely drilled but returned several encouraging drill intercepts from previous operators in the 1980’s & 2000’s. The British Lion occurs at the southern end of the prospective corridor and has numerous old workings associated with historical mining activity dating back to the early 1900’s.

Prior to 2020, an exclusion zone covering the Riverina Homestead was in place that prevented drill testing of the target. This was lifted in April 2020, allowing the full length of the Riverina South target to be tested by drilling.

This announcement was authorised for release to the ASX by David Quinlivan, Managing Director. For further information about Ora Banda Mining Ltd and its projects please visit the Company’s website at www.orabandamining.com.au.

Investor & Media Queries:

David Quinlivan Managing Director +61 8 6365 4548 [email protected]

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==> picture [470 x 647] intentionally omitted <==

Figure 1 – Riverina Area Location Plan

3 / 23

==> picture [471 x 641] intentionally omitted <==

Figure 2 – Riverina South overview plan showing proximity to the Main Mining Area

4 / 23

==> picture [475 x 646] intentionally omitted <==

Figure 3 – Riverina South drill hole location plan with significant intercepts

Refer ASX announcement dated 17 April 2018, 29 July 2019, 26 August 2019, 16 September 2019, 8 October 2019, 9 April 2020 and 10 August 2020 for further drilling details.

5 / 23

==> picture [449 x 386] intentionally omitted <==

Figure 4 – Cross Section A_A of recent drilling

==> picture [471 x 284] intentionally omitted <==

Figure 5 – Cross Section B_B of recent drilling – the most southern RC drill section

Refer ASX announcement dated 17 April 2018, 29 July 2019, 26 August 2019, 16 September 2019, 8 October 2019, 9 April 2020 and 10 August 2020 for further drilling details.

6 / 23

Appendix 1

Mineral Resource Table

PROJECT Cut-Off ('000t)
(g/t Au)
MEASURED		 ('000t)
(g/t Au)
MEASURED		 INDICATED INDICATED INFERRED INFERRED ('000t)
(g/t Au)
('000oz.)
TOTAL MATERIAL		 ('000t)
(g/t Au)
('000oz.)
TOTAL MATERIAL		 ('000t)
(g/t Au)
('000oz.)
TOTAL MATERIAL
(g/t Au) ('000t) (g/t Au) ('000t) (g/t Au) ('000t) (g/t Au)
GOLDEN EAGLE 2.0 - - 247 4.1 146 3.4 393 3.9 49
LIGHTS OF ISRAEL 3.0 - - 74 4.3 180 4.2 254 4.2 34
MAKAI SHOOT 1.0 - - 1,985 2.0 153 1.7 2,138 2.0 137
Open Pit 0.5 - - 1,948 2.4 131 2.9 2,079 2.4 159
WAIHI Underground 2.0 - - 188 3.7 195 4.0 383 3.8 47
TOTAL - - 2,136 2.5 326 3.5 2,462 2.6 206
Central Davyhurst Subtotal - - 4,442 2.4 805 3.3 5,247 2.5
427
LADY GLADYS 1.0 - - 1,858 1.9 190 2.4 2,048 1.9 125
Open Pit 0.5 116 1.8 2,694 1.8 183 3.0 2,993 1.9 183
RIVERINA AREA Underground 2.0 - - 226 5.7 502 6.1 728 5.9 139
TOTAL 116 1.8 2,843 1.8 685 5.3 3,721 2.7 322
Open Pit 0.5 523 1.8 523 1.8 30
RIVERINA SOUTH Underground
2.0		 122 3.3 122 3.3 13
TOTAL 645 2.1 645 2.1 43
FOREHAND 1.0 - - 386 1.7 436 1.9 822 1.8 48
SILVER TONGUE 1.0 - - 155 2.7 19 1.3 174 2.5 14
SUNRAYSIA 1.0 - - 175 2.1 318 2.0 493 2.0 32
Riverina-Mulline Subtotal 116 1.8 5,494 1.9 2,293 3.0 7,903 2.3
583
Open Pit - - 1,252 3.4 128 3.3 1,380 3.4 150
SAND KING Underground 0.5 - - 438 3.7 698 3.8 1,136 3.7 136
TOTAL 2.0 - - 1,690 3.5 826 3.7 2,516 3.5 286
Open Pit - - 1,460 3.4 17 3.5 1,477 3.4 160
MISSOURI Underground 0.5 - - 364 3.4 258 3.4 622 3.4 68
TOTAL 2.0 - - 1,824 3.4 275 3.4 2,099 3.4 227
PALMERSTON / CAMPERDOWN 1.0 - - 118 2.3 174 2.4 292 2.4 23
BEWICK MOREING 1.0 - - - - 50 2.3 50 2.3 4
BLACK RABBIT 1.0 - - - - 434 3.5 434 3.5 49
THIEL WELL - - - - 18 6.0 18 6.0 3
Siberia Subtotal - - 3,632 3.4 1,777 3.5 5,409 3.4
592
Open Pit 0.5 - - 241 3.7 28 1.6 269 3.5 30
Callion Underground 2.0 - - 255 6.0 156 5.5 411 5.8 77
TOTAL -
-		 496
4.9		 184
4.9		 680
4.9
107
Callion Subtotal - - 496 4.9 184 4.9 680 4.9 107
FEDERAL FLAG 1.0 32 2 112 1.8 238 2.5 382 2.3 28
SALMON GUMS 1.0 - - 199 2.8 108 2.9 307 2.8 28
WALHALLA 1.0 - - 448 1.8 216 1.4 664 1.7 36
WALHALLA NORTH 1.0 - - 94 2.4 13 3.0 107 2.5 9
MT BANJO 1.0 - - 109 2.3 126 1.4 235 1.8 14
MACEDON 1.0 - - - - 186 1.8 186 1.8 11
Walhalla Subtotal 32 2.0 962 2.1 887 2.0 1,881 2.1
125
IGUANA 1.0 - - 690 2.1 2,032 2.0 2,722 2.0 175
LIZARD 1.0 106 4 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
199
Davyhurst Total 300 2.7 15,800 2.5 8,000 2.8 24,000 2.6 2,030
BALDOCK - - - 136 18.6 0 0.0 136 18.6 81
METEOR - - - - - 143 9.3 143 9.3 43
WHINNEN - - - - - 39 13.3 39 13.3 17
Mount Ida Total - - 140 18.6 180 10.2 320 13.8 140
Combined Total 300 2.7 15,900 2.6 8,200 3.0 24,300 2.8 2,170
  1. The Missouri, Sand King, Riverina, Riverina South, Waihi, Callion & Golden Eagle Mineral Resources have been updated in accordance with all relevant aspects of the JORC code 2012, and initially released to the market on 15 December 2016 & 26 May 2020 (Missouri), 3 January 2017 & 26 May 2020 (Sand King), 2 December 2019 & 26 May 2020 (Riverina), 4 February 2020 (Waihi), 15 May 2020 & 29 June 2020 (Callion), 8 April 2020 (Golden Eagle) and 9 October 2020 (Riverina South).

7 / 23

  1. All Mineral Resources listed above, with the exception of the Missouri, Sand King, Riverina, Riverina South, Waihi, Callion & Golden Eagle Mineral Resources, were prepared previously and first disclosed under the JORC Code 2004 (refer Swan Gold Mining Limited Prospectus released to the market on 13 February 2013). These Mineral Resources have not been updated in accordance with JORC Code 2012 on the basis that the information has not materially changed since it was first reported.

  2. The Riverina, Riverina South, Waihi, Sand King, Missouri and Callion Open Pit Mineral Resource Estimates are reported within a A$2,400/oz pit shell above 0.5g/t. The Riverina, Waihi, Sand King, Missouri, Callion and Golden Eagle Underground Mineral Resource Estimates are reported from material outside a A$2,400 pit shell and above 2.0 g/t.

  3. The values in the above table have been rounded.

Ore Reserve Table

PROJECT PROVED PROVED PROBABLE PROBABLE TOTAL MATERIAL TOTAL MATERIAL TOTAL MATERIAL
('000t) (g/t Au) ('000t) (g/t Au) ('000t) (g/t Au) ('000oz.)
Sand King - - 1,300 2.6 1,300 2.6 110
Missouri - - 1,500 2.6 1,500 2.6 130
Riverina Open Pit - - 1,400 1.8 1,400 1.8 81
Golden Eagle - - 130 3.8 130 3.8 16
Waihi - - 1,500 2.3 1,500 2.3 110
Callion - - 240 2.6 240 2.6 21
TOTAL - - 6,100 2.4 6,100 2.4 460

Notes:

  1. The table contains rounding adjustments to two significant figures and does not total exactly.

  2. This Ore Reserve was estimated from practical mining envelopes and the application of modifying factors for mining dilution and ore loss.

  3. For the open pit Ore Reserve dilution skins were applied to the undiluted LUC Mineral Resource estimate at zero grade. The in-pit global dilution is estimated to be 29% at Sand King, 43% at Missouri, 22% at Riverina, 13% at Waihi and 23% at Callion all of which were applied at zero grade. The lower dilution at Riverina, Waihi and Callion reflecting the softer lode boundary and allows for inherent dilution within the lode wireframe. All Inferred Mineral Resources were considered as waste at zero grade.

  4. The Open Pit Ore Reserve was estimated using incremental cut-off grades specific to location and weathering classification. They range from 0.54 g/t to 0.69 g/t Au and are based on a price of A$2100 per ounce and include ore transport, processing, site overheads and selling costs and allow for process recovery specific to the location and domain and which range from 85% (Sand King fresh ore) to 95%.

  5. Approximately 100,000 t at 1.8 g/t at Riverina was downgraded from Proved to Probable due to uncertainty at the time surrounding metallurgical recovery. Subsequent test work estimated the Riverina recoveries to be 90.1%, 97.6% and 94.3% for oxide, transition and fresh, respectively.

  6. The underground Ore Reserve was estimated from practical mining envelopes derived from expanded wireframes to allow for unplanned dilution. A miscellaneous unplanned dilution factor of 5% at zero grade was also included. The global dilution factor was estimated to be 32% with an average grade of 0.77 g/t Au.

  7. The underground Ore Reserve was estimated using stoping cut-off of 2.7 g/t Au which allows for ore drive development, stoping and downstream costs such as ore haulage, processing, site overheads and selling costs. An incremental cut-off grade of 0.7 g/t Au was applied to ore drive development and considers downstream costs only. Cut-off grades were derived from a base price of A$2100 per ounce and allow for an assumed process recovery of 92%. Subsequent test work estimated the Golden Eagle fresh recovery to be 90.6%.

8 / 23

Appendix 2: Significant Intersections Table

HOLE ID **MGA North ** MGA East RL AZI DIP END
DEPTH		 HOLE
TYPE		 DEPTH
FROM		 DEPTH
TO		 INTERV
AL		 GRADE GRAM
METRE		 Au g/t interval
RVRC20248 6706531 264563 439 270 -60 144.0 RC 32.0 36.0 4.0 0.63 2.5 4.0m @ 0.63 g/t
RVRC20105 6706435 264531 441 270 -55 30.0 RC 14.0 16.0 2.0 2.74 5.5 2.0m @ 2.74 g/t
22.0 26.0 4.0 2.02 8.1 4.0m @ 2.02 g/t
Incl 22.0 25.0 3.0 2.40 7.2 3.0m @ 2.40 g/t
RVRC20106 6706435 264541 440 270 -55 48.0 RC 14.0 15.0 1.0 0.80 0.8 1.0m @ 0.80 g/t
27.0 42.0 15.0 1.63 24.5 15.0m @ 1.63 g/t
Incl 32.0 38.0 6.0 3.10 18.6 6.0m @ 3.10 g/t
Incl 41.0 42.0 1.0 1.69 1.7 1.0m @ 1.69 g/t
RVRC20107 6706395 264532 441 270 -55 36.0 RC 2.0 3.0 1.0 0.54 0.5 1.0m @ 0.54 g/t
RVRC20108 6706395 264545 440 270 -55 54.0 RC 9.0 10.0 1.0 1.21 1.2 1.0m @ 1.21 g/t
17.0 20.0 3.0 0.65 2.0 3.0m @ 0.65 g/t
24.0 27.0 3.0 1.98 5.9 3.0m @ 1.98 g/t
Incl 24.0 26.0 2.0 2.65 5.3 2.0m @ 2.65 g/t
RVRC20109 6706395 264557 440 270 -55 72.0 RC 29.0 31.0 2.0 3.23 6.5 2.0m @ 3.23 g/t
44.0 48.0 4.0 2.85 11.4 4.0m @ 2.85 g/t
51.0 56.0 5.0 7.30 36.5 5.0m @ 7.30 g/t
RVRC20110 6706375 264531 440 270 -50 24.0 RC N.S.I
RVRC20111 6706375 264550 440 270 -60 66.0 RC 1.0 3.0 2.0 0.80 1.6 2.0m @ 0.80 g/t
Incl 1.0 2.0 1.0 1.10 1.1 1.0m @ 1.10 g/t
17.0 18.0 1.0 0.69 0.7 1.0m @ 0.69 g/t
25.0 38.0 13.0 3.17 41.3 13.0m @ 3.17 g/t
Incl 25.0 26.0 1.0 1.22 1.2 1.0m @ 1.22 g/t
Incl 30.0 31.0 1.0 5.52 5.5 1.0m @ 5.52 g/t
Incl 35.0 37.0 2.0 13.99 28.0 2.0m @ 13.99 g/t
46.0 47.0 1.0 0.60 0.6 1.0m @ 0.60 g/t
RVRC20112 6706355 264544 440 270 -55 42.0 RC 12.0 24.0 12.0 2.13 25.5 12.0m @ 2.13 g/t
Incl 12.0 21.0 9.0 2.72 24.5 9.0m @ 2.72 g/t
RVRC20113 6706355 264559 440 270 -55 66.0 RC 13.0 15.0 2.0 0.61 1.2 2.0m @ 0.61 g/t
44.0 51.0 7.0 2.86 20.0 7.0m @ 2.86 g/t
Incl 44.0 47.0 3.0 6.05 18.2 3.0m @ 6.05 g/t
RVRC20114 6706315 264559 439 270 -55 48.0 RC 10.0 14.0 4.0 0.90 3.6 4.0m @ 0.90 g/t
Incl 11.0 13.0 2.0 1.20 2.4 2.0m @ 1.20 g/t
19.0 23.0 4.0 0.54 2.2 4.0m @ 0.54 g/t
RVRC20115 6706315 264574 439 270 -55 72.0 RC 7.0 8.0 1.0 0.76 0.8 1.0m @ 0.76 g/t
39.0 40.0 1.0 3.40 3.4 1.0m @ 3.40 g/t
47.0 48.0 1.0 1.50 1.5 1.0m @ 1.50 g/t
52.0 53.0 1.0 0.62 0.6 1.0m @ 0.62 g/t
RVRC20116 6706295 264558 439 270 -50 24.0 RC 4.0 5.0 1.0 0.68 0.7 1.0m @ 0.68 g/t
16.0 17.0 1.0 1.08 1.1 1.0m @ 1.08 g/t
RVRC20117 6706295 264576 439 270 -60 48.0 RC 18.0 20.0 2.0 0.90 1.8 2.0m @ 0.90 g/t
Incl 19.0 20.0 1.0 1.28 1.3 1.0m @ 1.28 g/t
30.0 31.0 1.0 1.10 1.1 1.0m @ 1.10 g/t
41.0 44.0 3.0 0.57 1.7 3.0m @ 0.57 g/t
RVRC20118 6706275 264565 440 270 -55 24.0 RC 1.0 3.0 2.0 0.63 1.3 2.0m @ 0.63 g/t
19.0 23.0 4.0 1.60 6.4 4.0m @ 1.60 g/t
Incl 19.0 22.0 3.0 1.92 5.8 3.0m @ 1.92 g/t
RVRC20119 6706275 264575 440 270 -55 36.0 RC 21.0 30.0 9.0 1.36 12.2 9.0m @ 1.36 g/t
Incl 23.0 27.0 4.0 2.43 9.7 4.0m @ 2.43 g/t
RVRC20120 6706275 264585 439 270 -55 48.0 RC 36.0 38.0 2.0 1.11 2.2 2.0m @ 1.11 g/t
Incl 37.0 38.0 1.0 1.37 1.4 1.0m @ 1.37 g/t
RVRC20121 6705910 264595 442 270 -55 24.0 RC 20.0 24.0 4.0 0.49 2.0 4.0m @ 0.49 g/t
Incl 23.0 24.0 1.0 1.03 1.0 1.0m @ 1.03 g/t
RVRC20122 6705910 264612 441 270 -55 54.0 RC 24.0 25.0 1.0 0.53 0.5 1.0m @ 0.53 g/t
40.0 42.0 2.0 5.67 11.3 2.0m @ 5.67 g/t
RVRC20123 6705910 264624 441 270 -55 78.0 RC 42.0 43.0 1.0 0.72 0.7 1.0m @ 0.72 g/t
55.0 63.0 8.0 2.36 18.9 8.0m @ 2.36 g/t
Incl 55.0 57.0 2.0 5.75 11.5 2.0m @ 5.75 g/t
Incl 60.0 63.0 3.0 2.11 6.3 3.0m @ 2.11 g/t

Page 9 of 23

HOLE ID **MGA North ** MGA East RL AZI DIP END
DEPTH		 HOLE
TYPE		 DEPTH
FROM		 DEPTH
TO		 INTERV
AL		 GRADE GRAM
METRE		 Au g/t interval
RVRC20126 6705890 264592 442 270 -50 30.0 RC N.S.I
RVRC20127 6705894 264614 441 270 -55 60.0 RC 43.0 50.0 7.0 0.51 3.6 7.0m @ 0.51 g/t
RVRC20128 6705889 264661 440 270 -55 66.0 RC 22.0 23.0 1.0 1.32 1.3 1.0m @ 1.32 g/t
32.0 37.0 5.0 2.25 11.3 5.0m @ 2.25 g/t
43.0 46.0 3.0 0.64 1.9 3.0m @ 0.64 g/t
RVRC20129 6705867 264590 442 270 -55 30.0 RC 17.0 20.0 3.0 0.85 2.6 3.0m @ 0.85 g/t
Incl 17.0 18.0 1.0 1.20 1.2 1.0m @ 1.20 g/t
RVRC20130 6705867 264605 441 270 -55 48.0 RC 20.0 29.0 9.0 0.36 3.2 9.0m @ 0.36 g/t
RVRC20131 6705867 264620 441 270 -55 72.0 RC 23.0 24.0 1.0 4.70 4.7 1.0m @ 4.70 g/t
54.0 55.0 1.0 0.84 0.8 1.0m @ 0.84 g/t
RVRC20132 6705867 264650 441 270 -55 54.0 RC N.S.I
RVRC20134 6705843 264613 441 270 -57 72.0 RC N.S.I
RVRC20135 6705843 264665 440 270 -58 78.0 RC 24.0 26.0 2.0 0.98 2.0 2.0m @ 0.98 g/t
Incl 24.0 25.0 1.0 1.39 1.4 1.0m @ 1.39 g/t
37.0 38.0 1.0 0.58 0.6 1.0m @ 0.58 g/t
45.0 46.0 1.0 0.99 1.0 1.0m @ 0.99 g/t
57.0 67.0 10.0 0.89 8.9 10.0m @ 0.89 g/t
Incl 58.0 60.0 2.0 1.89 3.8 2.0m @ 1.89 g/t
RVRC20136 6705843 264689 440 270 -60 78.0 RC 66.0 67.0 1.0 0.54 0.5 1.0m @ 0.54 g/t
71.0 72.0 1.0 0.56 0.6 1.0m @ 0.56 g/t
75.0 76.0 1.0 1.17 1.2 1.0m @ 1.17 g/t
RVRC20137 6705815 264594 440 270 -53 42.0 RC 27.0 29.0 2.0 8.04 16.1 2.0m @ 8.04 g/t
RVRC20138 6705815 264610 440 270 -53 60.0 RC N.S.I
RVRC20139 6705815 264662 440 270 -55 66.0 RC 43.0 46.0 3.0 0.53 1.6 3.0m @ 0.53 g/t
49.0 57.0 8.0 1.23 9.8 8.0m @ 1.23 g/t
Incl 49.0 52.0 3.0 1.46 4.4 3.0m @ 1.46 g/t
Incl 56.0 57.0 1.0 2.75 2.7 1.0m @ 2.75 g/t
65.0 66.0 1.0 0.69 0.7 1.0m @ 0.69 g/t
RVRC20140 6705793 264591 440 270 -55 36.0 RC N.S.I
RVRC20141 6705793 264605 440 270 -55 54.0 RC N.S.I
RVRC20143 6705793 264650 440 270 -55 60.0 RC 31.0 32.0 1.0 0.71 0.7 1.0m @ 0.71 g/t
41.0 48.0 7.0 1.20 8.4 7.0m @ 1.20 g/t
Incl 41.0 42.0 1.0 1.62 1.6 1.0m @ 1.62 g/t
Incl 46.0 47.0 1.0 4.46 4.5 1.0m @ 4.46 g/t
RVRC20144 6705793 264665 439 270 -55 78.0 RC 45.0 46.0 1.0 0.70 0.7 1.0m @ 0.70 g/t
55.0 56.0 1.0 0.63 0.6 1.0m @ 0.63 g/t
59.0 67.0 8.0 1.90 15.2 8.0m @ 1.90 g/t
74.0 75.0 1.0 0.74 0.7 1.0m @ 0.74 g/t
RVRC20145 6705772 264590 440 270 -60 54.0 RC 25.0 26.0 1.0 0.79 0.8 1.0m @ 0.79 g/t
RVRC20147 6705753 264611 440 270 -50 54.0 RC 0.0 1.0 1.0 0.52 0.5 1.0m @ 0.52 g/t
6.0 8.0 2.0 0.89 1.8 2.0m @ 0.89 g/t
Incl 7.0 8.0 1.0 1.24 1.2 1.0m @ 1.24 g/t
26.0 28.0 2.0 0.79 1.6 2.0m @ 0.79 g/t
Incl 26.0 27.0 1.0 1.06 1.1 1.0m @ 1.06 g/t
RVRC20149 6705753 264650 439 270 -59 66.0 RC 34.0 35.0 1.0 0.60 0.6 1.0m @ 0.60 g/t
45.0 54.0 9.0 1.01 9.1 9.0m @ 1.01 g/t
Incl 45.0 46.0 1.0 2.72 2.7 1.0m @ 2.72 g/t
Incl 53.0 54.0 1.0 2.18 2.2 1.0m @ 2.18 g/t
RVRC20150 6705734 264574 440 270 -55 30.0 RC 19.0 20.0 1.0 0.70 0.7 1.0m @ 0.70 g/t
RVRC20151 6705734 264587 440 270 -55 48.0 RC 26.0 27.0 1.0 1.15 1.2 1.0m @ 1.15 g/t
30.0 31.0 1.0 0.79 0.8 1.0m @ 0.79 g/t
RVRC20152 6705734 264617 439 270 -55 42.0 RC 21.0 22.0 1.0 0.57 0.6 1.0m @ 0.57 g/t
RVRC20154 6705715 264575 440 270 -55 30.0 RC N.S.I
RVRC20155 6705715 264592 440 270 -55 48.0 RC N.S.I

Page 10 of 23

HOLE ID **MGA North ** MGA East RL AZI DIP END
DEPTH		 HOLE
TYPE		 DEPTH
FROM		 DEPTH
TO		 INTERV
AL		 GRADE GRAM
METRE		 Au g/t interval
RVRC20156 6705715 264605 440 270 -55 60.0 RC 15.0 16.0 1.0 1.35 1.4 1.0m @ 1.35 g/t
41.0 42.0 1.0 1.85 1.9 1.0m @ 1.85 g/t
45.0 46.0 1.0 1.02 1.0 1.0m @ 1.02 g/t
50.0 51.0 1.0 0.69 0.7 1.0m @ 0.69 g/t
RVRC20158 6705715 264635 439 270 -55 54.0 RC 42.0 45.0 3.0 0.98 2.9 3.0m @ 0.98 g/t
Incl 43.0 44.0 1.0 1.69 1.7 1.0m @ 1.69 g/t
RVRC20160 6705675 264560 440 270 -55 24.0 RC 8.0 11.0 3.0 0.70 2.1 3.0m @ 0.70 g/t
18.0 20.0 2.0 0.79 1.6 2.0m @ 0.79 g/t
Incl 19.0 20.0 1.0 1.05 1.0 1.0m @ 1.05 g/t
RVRC20161 6705675 264575 440 270 -55 42.0 RC 12.0 17.0 5.0 0.71 3.6 5.0m @ 0.71 g/t
Incl 12.0 13.0 1.0 1.29 1.3 1.0m @ 1.29 g/t
Incl 16.0 17.0 1.0 1.32 1.3 1.0m @ 1.32 g/t
27.0 28.0 1.0 0.72 0.7 1.0m @ 0.72 g/t
33.0 38.0 5.0 0.50 2.5 5.0m @ 0.50 g/t
RVRC20162 6705676 264592 439 270 -55 60.0 RC 23.0 26.0 3.0 1.02 3.1 3.0m @ 1.02 g/t
Incl 25.0 26.0 1.0 2.07 2.1 1.0m @ 2.07 g/t
RVRC20165 6705654 264567 440 270 -55 30.0 RC N.S.I
RVRC20166 6705654 264595 440 270 -51 60.0 RC 32.0 37.0 5.0 2.53 12.6 5.0m @ 2.53 g/t
49.0 50.0 1.0 0.65 0.7 1.0m @ 0.65 g/t
RVRC20167 6705654 264642 439 270 -55 78.0 RC 36.0 38.0 2.0 0.78 1.6 2.0m @ 0.78 g/t
RVRC20168 6705635 264575 441 270 -55 30.0 RC N.S.I
RVRC20169 6705635 264590 440 270 -55 48.0 RC 24.0 25.0 1.0 0.56 0.6 1.0m @ 0.56 g/t
31.0 32.0 1.0 2.29 2.3 1.0m @ 2.29 g/t
37.0 38.0 1.0 0.61 0.6 1.0m @ 0.61 g/t
46.0 47.0 1.0 1.02 1.0 1.0m @ 1.02 g/t
RVRC20170 6705635 264605 440 270 -55 60.0 RC 0.0 1.0 1.0 0.55 0.5 1.0m @ 0.55 g/t
20.0 21.0 1.0 0.78 0.8 1.0m @ 0.78 g/t
55.0 56.0 1.0 0.50 0.5 1.0m @ 0.50 g/t
RVRC20171 6705635 264620 439 270 -55 78.0 RC 11.0 17.0 6.0 0.57 3.4 6.0m @ 0.57 g/t
Incl 15.0 16.0 1.0 1.03 1.0 1.0m @ 1.03 g/t
25.0 26.0 1.0 0.75 0.7 1.0m @ 0.75 g/t
53.0 54.0 1.0 1.11 1.1 1.0m @ 1.11 g/t
74.0 75.0 1.0 2.34 2.3 1.0m @ 2.34 g/t
RVRC20172 6705635 264635 439 270 -55 66.0 RC N.S.I
RVRC20173 6705598 264581 441 270 -55 36.0 RC 29.0 31.0 2.0 5.63 11.3 2.0m @ 5.63 g/t
RVRC20178 6705582 264617 440 270 -55 54.0 RC 9.0 10.0 1.0 0.90 0.9 1.0m @ 0.90 g/t
17.0 18.0 1.0 0.54 0.5 1.0m @ 0.54 g/t
26.0 29.0 3.0 1.76 5.3 3.0m @ 1.76 g/t
Incl 27.0 29.0 2.0 2.36 4.7 2.0m @ 2.36 g/t
RVRC20179 6705565 264587 441 270 -55 30.0 RC N.S.I
RVRC20180 6705565 264600 441 270 -55 48.0 RC 22.0 25.0 3.0 0.80 2.4 3.0m @ 0.80 g/t
Incl 22.0 23.0 1.0 1.50 1.5 1.0m @ 1.50 g/t
30.0 31.0 1.0 1.12 1.1 1.0m @ 1.12 g/t
34.0 37.0 3.0 32.36 97.1 3.0m @ 32.36 g/t
RVRC20184 6705528 264582 440 270 -60 48.0 RC 31.0 32.0 1.0 1.42 1.4 1.0m @ 1.42 g/t
39.0 40.0 1.0 0.58 0.6 1.0m @ 0.58 g/t
RVRC20185 6705528 264607 440 270 -60 54.0 RC 11.0 12.0 1.0 4.69 4.7 1.0m @ 4.69 g/t
16.0 17.0 1.0 1.13 1.1 1.0m @ 1.13 g/t
24.0 25.0 1.0 1.03 1.0 1.0m @ 1.03 g/t
31.0 32.0 1.0 0.64 0.6 1.0m @ 0.64 g/t
RVRC20186 6705528 264619 440 270 -60 72.0 RC 18.0 19.0 1.0 0.78 0.8 1.0m @ 0.78 g/t
22.0 26.0 4.0 0.87 3.5 4.0m @ 0.87 g/t
Incl 25.0 26.0 1.0 1.52 1.5 1.0m @ 1.52 g/t
35.0 48.0 13.0 1.63 21.2 13.0m @ 1.63 g/t
RVRC20193 6705488 264615 440 270 -55 54.0 RC 21.0 26.0 5.0 10.37 51.8 5.0m @ 10.37 g/t
Incl 21.0 23.0 2.0 24.74 49.5 2.0m @ 24.74 g/t
32.0 34.0 2.0 1.03 2.1 2.0m @ 1.03 g/t

Page 11 of 23

Competent Persons Statement

The information in this announcement that relates to exploration results, and the Riverina, Riverina South, Waihi, Golden Eagle, Callion, Sand King and Missouri Mineral Resources is based on information compiled under the supervision of Mr Andrew Czerw, an employee of Ora Banda Mining Limited, who is Member of the Australian Institute of Mining and Metallurgy. 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 Czerw consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Sand King, Missouri, Riverina, Riverina South, Waihi, Golden Eagle and Callion Mineral Resources are reported in accordance with the JORC 2012 code. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements dated 15 December 2016 (Missouri) and 3 January 2017 (Sand King), 2 December 2019 (Riverina), 4 February 2020 (Waihi), 8 April 2020 (Golden Eagle), 15 May 2020 (Callion), 9 October 2020 (Riverina South) and restated in market announcement “Davyhurst Gold Project - Ore Reserve Update” dated 26 May 2020.

Mineral Resources other than Sand King, Missouri, Riverina, Riverina South, Waihi, Golden Eagle and Callion were first reported in accordance with the JORC 2004 code in Swan Gold Mining Limited Prospectus released to the market on 13 February 2013. Mineral Resources other than Riverina, Riverina South, Waihi, Golden Eagle, Callion, Sand King and Missouri have not been updated to comply with JORC Code 2012 on the basis that the information has not materially changed since it was first reported.

Forward-looking Statements

This Announcement contains forward-looking statements which may be identified by words such as "believes", "estimates", "expects', "intends", "may", "will", "would", "could", or "should" and other similar words that involve risks and uncertainties. These statements are based on an assessment of present economic and operating conditions, and on a number of assumptions regarding future events and actions that, as at the date of this Announcement, are expected to take place.

Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, the Directors and management of the Company. These and other factors could cause actual results to differ materially from those expressed in any forward-looking statements.

The Company has no intention to update or revise forward-looking statements, or to publish prospective financial information in the future, regardless of whether new information, future events or any other factors affect the information contained in this Announcement, except where required by law.

The Company cannot and does not give assurances that the results, performance or achievements expressed or implied in the forwardlooking statements contained in this Announcement will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements.

Page 12 of 23

JORC CODE, 2012 EDITION – TABLE 1 REPORT TEMPLATE

Section 1 Sampling Techniques and Data

Information for historical (Pre Ora Banda Mining 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 Ora Banda Mining Limited has undertaken extensive infill and confirmation drilling which confirm historical drill results. Sections 1 and 2 describe the work undertaken by Ora Banda Mining 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.
•
Ora Banda Mining Limited (OBM) - 1m RC samples using face sampling hammer with samples collected under cone splitter. 4m
composite RC samples collected usinga PVC spear from the samplepiles at the drill site. For drillingupto April 2020,RC samples were
Criteria JORC Code explanation Commentary
dispatched for pulverising and 50g charge Fire Assay. For drillholes RVRC20036 to RVRC20104 inclusive, 1m and 4m composite samples
were dispatched to the lab, crushed to a nominal 3mm, split to 500 grams and analysed by Photon Assay method at MinAnalytical in
Kalgorlie. 4m composite samples with gold values greater than 0.2 g/t Au were re-sampled as 1m split samples and submitted to the lab
for Photon Assay analysis. Half-core samples, cut by automated core 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 using a power auger fitted 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.
•
OBM – 5.25 to 5.5 inch diameter RC holes using face sampling hammer with samples collected under cone splitter. HQ and HQ3 coring
to approx. 40m, then NQ2 to BOH. Metallurgical and geotechnical core holes drilled using HQ3 exclusively. 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.
•
OBM - 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. _		 •
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.
Criteria JORC Code explanation Commentary
•
The total length and percentage of the relevant
intersections logged.		 •
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.
•
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.
•
OBM - Field logging was conducted using Geobank MobileTMsoftware on Panasonic Toughbook CF-31 ruggedized laptop computers.
Qualitative logging: Lithology, colour, oxidation, grainsize, texture, structure, hardness, regolith. Quantitative: estimates are made of
quartz veining, sulphide and alteration percentages. Core photographed both wet and dry. Magnetic susceptibility and RQD were also
recorded for core holes.
•
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 250grepresentative split sample was taken,the remainingresidue sample stored and a 50gm
Criteria JORC Code explanation Commentary
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 large green plastic bag and lined up in rows near
the hole in rows of 20. The entirety of 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.
•
OBM – RC samples were submitted either as individual 1m samples taken onsite from cone splitter or as 4m composite samples speared
from the onsite drill sample piles. Half core samples, cut by saw. Core sample intervals selected by geologist and defined by geological
boundaries. For drillingupto April 2020,RC samples were dried,crushed,split, pulverised and a 50gm charge taken. For drillholes
Criteria JORC Code explanation Commentary
RVRC20036 to RVRC20104 inclusive, 1m and 4m composite samples were dispatched to the lab, crushed to a nominal 3mm, split to 500
grams and analysed by Photon Assay method at MinAnalytical in Kalgoorlie. 4m composite samples with gold values greater than 0.2 g/t
Au were re-sampled as 1m split samples and submitted to the lab for Photon Assay analysis. 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.
•
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 1100oC 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
wasparted and digested,beingmade upto volume with distilled water. The analyte solution was aspirated against known calibrating
Criteria JORC Code explanation Commentary
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.
•
OBM – Up to April 2020, all samples were sent to an accredited laboratory (Nagrom Laboratories in Perth, Intertek-Genalysis in
Kalgoorlie or SGS in Kalgoorlie). 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 1:12. Sizing results (percentage of pulverised sample passing a 75μm mesh) are undertaken on
approximately 1 in 40 samples. The accuracy (standards) and precision (repeats) of assaying are acceptable. For drillholes RVRC20036 to
RVRC20104, 1m and 4m composite RC samples were sent to MinAnalytical Laboratory Services in Kalgoorlie. Sample prep involves
drying and a -3mm crush, of which 500 grams is linear split into assay jars for analysis. Samples are analysed by the Photon assay
method which utilises gamma radiation to excite the nucleus of the target atoms (gold). The excited nucleus then emits a characteristic
photon, which is counted to determine the abundance of gold in the sample. Standards and blanks were inserted into the sample
stream at a rate of approximately 1:12. Duplicates were submitted at a rate of approximately 1:30.
•
Fire assay is considered a total technique, Aqua Regia is considered partial. The Photon assay method is considered a total technique
and is non-destructive.
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.
•
OBM - Geological and sample data logged directly into field computer at the drill rig or core yard using Field Marshall or Geobank
Mobile. 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.
Criteria JORC Code explanation Commentary
•
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.
•
OBM (RC, DD) MGA94, zone 51. Drill hole collar positions were picked up by a contract surveyor using RTKGPS 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. Diamond drillholes completed in 2019 and 2020 by OBM were surveyed using a Gyro
tool.
Data spacing
and
distribution		 •
Data spacing for reporting of Exploration Results.
•
Whether the data spacing and distribution is
sufficient to establish the degree of geological and		 •
Exploration results are reported for single holes only.
•
Drill hole spacing is adequate for the current resources reported externally. (Examples are discussed below)
•
Croesus Mining N.L; Auger samples were collected to infill a 250m x 100m grid, Riverina South RAB samples were collected to infill a
Criteria JORC Code explanation Commentary
grade continuity appropriate for the Mineral
Resource and Ore Reserve estimation procedure(s)
and classifications applied.
•
Whether sample compositing has been applied.		 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, 0.5g/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 90oto the strike of mineralisation and inclined at 60o. Examples are discussed below.
•
Croesus Mining N.L; Holes were either vertical or inclined at 60oand 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 60oand oriented towards either the west or east.
•
Riverina Resources Pty Ltd; Holes were inclined at 60oand oriented towards either the west or east.
•
Barra Resources Ltd; Holes were either vertical or inclined at 60oand oriented towards the west.
•
Carpentaria Exploration Company Pty Ltd; Holes were inclined at 60oand oriented towards either the west or east.
•
Malanti Pty Ltd; Holes were inclined at 60oand 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 60oand 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 60oand oriented either east or west.
•
OBM – RC drilling is predominately inclined at between -50 and -60 degrees towards the west. Drilling inclined to the east is only done
when lodes are deemed to be vertical or if local landforms prevent access.
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.
•
OBM - Samples were bagged, tied and stored in a secure yard on site. 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.		 •
OBM has reviewed historic digital data and compared it to hardcopy and digital (Wamex) records.

Section 2 Reporting of Exploration Results

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

Criteria JORC Code explanation Commentary Commentary
Mineral tenement
and land tenure
status		 •
Type, reference name/number, 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.		 •
•
•
•		 All tenurepertainingto this report is listed below
TENEMENT
HOLDER
AGREEMENTS
M30/256
CARNEGIE GOLD PTY LTD.
Carnegie Gold PTY LTD is a wholly owned subsidiary of OBM.
There are no known heritage or native title issues.
There are no known impediments to obtaining a licence to operate in the area.
Exploration 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 South area consists of an interlayered sequence of meta-basalts, meta-sediments and ultramafics, rarely
cross-cut by narrow pegmatite dykes. The local stratigraphy strikes roughly N-S with primarily steep east to sub-vertical dips. The area
has been affected by upper greenschist to lower amphibolite grade metamorphism with many minerals exhibiting strong preferred
orientations. All rock units exhibit strain via zones of foliation, with strongly sheared zones more common in ultramafic lithologies.
Contemporaneous strike faults and late stage faults have dislocated the stratigraphy and hence, mineralisation
Gold mineralisation is hosted by quartz-sulphide and quartz-Fe oxide veining primarily in the metabasalts. Metasediments and
ultramafics may also contain gold mineralised quartz veining, although much less abundant. Gold mineralisation is also seen in silica-
biotite-sulphide and silica-sericite-sulphide alteration zones in the metabasalts.
Drill hole
Information		 •
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
easting and northing of the
drill hole collar
o
elevation or RL (Reduced
Level – elevation above sea
level in metres) of the drill
hole collar
o
dip and azimuth of the hole
o
down hole length and
interception depth
o
hole length.
•
If the exclusion of this information is justified
on the basis that the information is not
Material and this exclusion does not detract
from the understanding of the report, the
Competent Person should clearly explain why
this is the case.		 • See list of drill intercepts.
Criteria JORC Code explanation Commentary
Data aggregation
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 should be clearly
stated.		 •
Original assays are length weighted. Grades are not top cut. Lower cut off is nominally 0.5g/t. Maximum 2m internal dilution
•
Metal equivalents not reported.
Relationship
between
mineralisation
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 South 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 cross-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 2D/3D diagrams and are coloured according to grade to provide context
for the highlighted intercepts
Other substantive
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.		 •
Riverina has no known reported metallurgical issues.
•
Results from previous processing have demonstrated that good gold recovery can be expected from conventional CIL processing
methods.
•
Recent metallurgical test work demonstrated the following gold recoveries:
o
Oxide – 90%
o
Transitional – 97%
o
Fresh – 94%
Further work •
The nature and scale of planned further work
(eg testsfor lateral extensions or depth		 •
Resource modelling followed by resource estimation at Riverina South. Infill and extensional drilling at Riverina South, Forehand, Silver
Tongue,Sunraysia,followed byfurther resource updates.
Criteria JORC Code explanation Commentary
extensions or large-scale step-out drilling).
•
Diagrams clearly highlighting the areas of
possible extensions, including the main
geological interpretations and future drilling
areas, provided this information is not
commercially sensitive.		 •
Assessment of all regional data to develop new exploration targets.

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

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