Skip to main content

AI assistant

Sign in to chat with this filing

The assistant answers questions, extracts KPIs, and summarises risk factors directly from the filing text.

ORBMINCO LIMITED Capital/Financing Update 2019

Nov 20, 2019

65473_rns_2019-11-20_2e402101-cacd-4477-84db-9330bd559856.pdf

Capital/Financing Update

Open in viewer

Opens in your device viewer

==> picture [60 x 57] intentionally omitted <==

Woomera Mining Limited

Suite 116, 147 Pirie St Adelaide SA 5000 [email protected] www.WoomeraMining.com.au

==> picture [494 x 47] intentionally omitted <==

21 November 2019

ASX Announcement

Woomera Commences Two Phase Exploration Program at Mount Venn

Highlights

  • Woomera commences two phase exploration program at Mt Venn Gold Project

  • 1st phase drilling program commences at Three Bears to test the extension of gold mineralisation over zones 1.5 Km to the north and 1km to the south along the Jutson Shear

  • Previous RC and AC drilling indicates a 4km north-south mineralised zone with an envelope of semicontinuous mineralisation

  • 2nd phase drilling program to follow in 1[st] Quarter 2020 at prospective Chapmans Reward and Lang’s Find Prospects following ethnographic clearances and receipt of exploration plan approval

  • Mount Venn greenstone belt is associated with the Yamarna Shear and is close to Gold Road Resources (ASX:GOR) Gruyere gold deposit (Mineral Resource of 155.4Mt @ 1.32 g/t for 6.61Moz – GOR Announcement 13 Feb 2019) located in the neighbouring Dorothy Hills Greenstone Belt.

Woomera Mining Limited (ASX: WML) is pleased to announce the commencement of its two-phase exploration program at its newly acquired Mt Venn Gold Project.

The first phase will focus on a 120 hole aircore drilling program at the Three Bears Prospect which is scheduled to commence on Monday 25 November 2019. The program is designed to test the northern and southern extents of a mineralised zone at the Three Bears prospect that was partially delineated by 158 AC and 21 RC drill holes during previous drilling programs (Figure 1 & Figure 2).

First Phase - Three Bears Drilling Program

Woomera’s drilling program at the Three Bears Prospect is designed to test the geochemical anomalies that appear to be associated with an ultramafic contact coincident with cross cutting structures visible in the magnetic data. A 3D view of the drill hole locations and gold assays is shown in Figure 3. Although the drilling has been predominantly shallow aircore over widely spaced lines (200m), this view shows a coherent trend of elevated gold assays over a strike length of approximately four kilometres. The first phase of the drilling program has been designed to test for continuation of the mineralised zone to the north and south as shown in Figure 2.

Figure 4 shows the 200ppb Au isosurface created using a 3D Kriging gridding method. The accuracy of the gridding results is limited by the wide spaced lines and the predominantly shallow aircore holes. However, when capped at a depth of 200m the 200 ppb Au isosurface envelope has a volume of over 20 million cubic metres.

Page 1 of 14

Woomera is encouraged by the results to date and considers there to be good potential for extending the known zone of mineralisation to the north and south at Three Bears.

Woomera has also been successful in its application for co-funding from the WA Government for its exploration drilling program for the Mt Venn Project (refer WML ASX announcement 14 November 2019). The co-funding grant received by Woomera of $150,000 will be applied towards the drilling costs of the Mt Venn Gold Project, in conjunction with its own funds, which will significantly increase its exploration spend.

==> picture [221 x 256] intentionally omitted <==

==> picture [260 x 256] intentionally omitted <==

Figure 1 – Mt Venn project tenements & drill locations Figure 2 - RC & AC drill hole collars

==> picture [497 x 272] intentionally omitted <==

Figure 3 – 3D view of RC and AC drilling results at Three Bears

Page 2 of 14

==> picture [497 x 263] intentionally omitted <==

Figure 4 – 200 ppb Au isosurface from 2017-18 drilling program

Second Phase – Lang’s Find & Chapman’s Reward Drilling Program

Three Bears is one of eleven strong targets in the Mount Venn project area. The Lang’s Find and Chapman’s Reward Prospects are equally compelling targets and will be the immediate focus of the second phase of the Mt Venn Exploration Program in the 1[st] Quarter 2020, with the exact commencement and timing of which to depend upon the results of the first phase of the drilling program and the availability and resources to finance and support the program.

Although the Company had planned to commence drilling at Lang’s Find and Chapman’s Reward this calendar year, the Company has been working steadily in the background on various native title matters with the aim of now commencing the drilling in the new calendar year. To date, the Company has negotiated and executed a Deed of Assignment and Assumption with Cazaly Resources Ltd as required by the Land Access Deed with the Yilka Talintji Aboriginal Corporation, made arrangements for a heritage survey with the Yilka and also obtained the formal consent of the Yilka for the Joint Venture with Cazaly.

Woomera is also currently negotiating with the Yilka to extend the drilling program to the Chapman’s Reward prospect which lies within the area that was recently amalgamated into E38/3111 (WML ASX announcement 30 July 2019) and the VHMS target at Rutter's North. Negotiations with the Yilka to extend the drilling program are progressing well.

Subject to ethnographic clearances and the receipt of exploration plan approval, Woomera anticipates that the second phase of the current drilling program will commence as soon as possible in the New Year and in any event during the first Quarter of 2020.

Woomera is currently examining the technical data for Lang’s Find and Chapman’s Reward to narrow down the specific drill targets and finalise the wider exploration program. The Company will provide further details to the market of the finalised drill program once that process has completed.

Page 3 of 14

==> picture [200 x 211] intentionally omitted <==

Figure 5 – Location of Mount Venn gold project

About the Mount Venn Gold Project

The Mt Venn Project is 100% owned by Yamarna West Pty Ltd, which became a wholly owned subsidiary of WML on 20 September 2019 (ref: WML ASX Announcement 20 September 2019).

The project consists of two Exploration Licences covering approximately 400 square kilometers in the Eastern Goldfields region of Western Australia in the Yilgarn Craton (refer Figure 5).

The Mt Venn Project covers part of the Yamarna Greenstone Belt which has recently become well known through the publicised exploration successes of Gold Road Resources Ltd and Goldfields Australia Ltd. Prior to this, historic work within the project has been sporadic and mostly for copper, nickel and platinum group metals. Reconnaissance gold sampling was undertaken in the 1990’s by Elmina NL and has shown significant gold anomalism associated with the Jutson shear zone similar to that of the adjacent Yamarna and Dorothy Hills shears that host the Gruyere gold deposit (Figure 6). Follow up auger drilling by Global Metals Exploration NL confirmed the presence of an extensive gold system, including 12m @ 1.13/t gold from 32m at the Three Bears prospect. Yamarna West targeted gold and base metals with a combination of AC and RC drilling during 2017 and 2018, primarily at the Three Bears prospect, and successfully delineated a mineralized zone which extends north-south for approximately four kilometers (Figure 3 and Figure 4).

==> picture [270 x 229] intentionally omitted <==

Figure 6 – Gold in soil anomalies Jutson and Yamarna shear zones

Page 4 of 14

Location and Access

The tenements are located 125km northeast of Laverton and lie within the Yilka Talintji Aboriginal Reserve and Native Title Determination. A Mineral Exploration and Land Access Deed of Agreement has been executed between Yamarna and the Yilka Talintja Aboriginal Corporation.

The project area covers 40 contiguous kilometers of the NNW striking Yamarna Greenstone Belt, averaging 9km in width, from Mt Cumming in the north to Mt Grant in the south (Figure 7).

Access to the Mt Venn Project is via the Great Central Highway (Laverton to Warburton route) which runs through the Three Bears prospect of the project area.

The establishment of Gold Road Resources Ltd’s (ASX:GOR) Gruyere gold mine (155.4 Mt @ 1.32 g/t Au for 6.61M oz., GOR announcement, 13 February 2019) just 30 km west of Woomera’s Mount Venn project has made significant improvement to the logistics of exploring in this remote region and Woomera is grateful for the logistical assistance that is being provided by Gold Road for its forthcoming drilling program.

Previous Exploration

The first exploration activity was recorded at Rutter Soak (on E38/3111) in 1894 and then reports by the Geological Survey of Western Australia following field trips in 1906 and 1918. The first discovery of gold was officially reported in 1923 by the State Prospecting Party which reported gold assays of up to 201 g/t from samples taken from historic pits. From 1925, a total of 26.65 ounces of gold was recovered from 15.24 tonnes of ore at an average grade of 54.39 g/t gold from Chapman’s Reward (ref WML ASX Announcement 30 July 2019).

No further exploration was recorded until 1969 when International Nickel Australia Ltd and Kennecott Explorations (Australia) Pty Ltd carried out comprehensive programs for nickel over several years.

In more recent times Elmina NL , Helix Resources Ltd and Global Metals Exploration NL conducted surficial geochemical reconnaissance which revealed strong gold anomalism along the trend of the Jutson Shear zone as shown in images of Figure 6, Figure 7 and Figure 8.

==> picture [384 x 263] intentionally omitted <==

Figure 7 – Mount Venn geology and prospect locations

Page 5 of 14

==> picture [208 x 337] intentionally omitted <==

Figure 8 – Gold in soil anomalies over Mt Venn project area

==> picture [299 x 345] intentionally omitted <==

Figure 9 – Gold in auger anomalies over Mt Venn project area

Page 6 of 14

==> picture [255 x 274] intentionally omitted <==

Figure 10 – Gold in soils over Three Bears prospect

==> picture [305 x 327] intentionally omitted <==

Figure 11 - Gold in auger samples over Three Bears Prospect

Page 7 of 14

Contact

Gerard Anderson Managing Director Woomera Mining Limited +61 8 8232 6201 [email protected]

Peter Taylor Investor Relations 0412 036 231 [email protected]

About Woomera Mining Limited

Woomera Mining Limited ( Woomera ) is an ASX listed exploration company based in Adelaide, South Australia with an extensive mineral tenement portfolio prospective for Gold, Copper, Lithium, Uranium, Iron Ore, Nickel and Cobalt. The Woomera tenement package includes tenements prospective for gold and nickel-copper in the Mt Venn Greenstone Belt in Western Australia ( Mt Venn Gold Project ) and tenements prospective for nickelcopper-cobalt in the Musgrave Province of South Australia ( Musgrave Alcurra-Tieyon Project ). The Company also has tenements in the Gawler Craton which are considered prospective for IOCGU deposits, Cu-Ni-Co deposits, Rare Earth and Precious Metals. Woomera’s tenement portfolio also includes granted tenements and tenement applications in Western Australia including 2 tenements and 1 tenement application in the Pilbara region of WA ( Pilgangoora Lithium Project ), 3 lithium tenements near Ravensthorpe ( Mt Cattlin Lithium Project ), 2 lithium tenements at Lake Cowan and a tenement covering a lithium brine prospect at Lake Dundas in Western Australia.

Page 8 of 14

ANNEXURE 1.

JORC Code, 2012 Edition – Table 1

Section 1 Sampling Techniques and Data

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.
• 24 reverse circulation (RC) drill holes for
3,147m, 116 air core (AC) drill holes for
4,995m and 138 rotary air blast (RAB) drill
holes for 2,546m were completed by
Yamarna West Pty Ltd (YAM) to variable
depths.
• All sampling was conducted using Cazaly
Resources Ltd (CAZ) protocols including
industry best practice QAQC procedures
including duplicates and standards.
• RC samples were collected in 1 metre
intervals from a rig mounted cyclone with
attached cone splitter. The dry samples
were split into a bulk sample (green bag)
and a representative 3kg split (calico). All 1
metre samples were lined up in rows of 20
beside the hole. Damp or wet samples were
collected in green bags and spear/scoop
sampled.
• Composite samples were collected from
each 1metre bulk green bag using a sample
spear to ensure a representative sample
was combined from 2-4 metre intervals,
depending on the geologist’s instructions. In
some intervals, only 1 metre cone split
representative samples were collected for
analysis.
• RAB and AC samples were collected off a rig
mounted cyclone in buckets and placed on
the ground beside the hole in 10 sample
rows. Composite samples consisting of
representative scoop samples were
collected from the sample piles in 1-4 metre
intervals, depending on the geologist’s
instructions.
• 3kg composite samples were sent to Bureau
Veritas in Perth, sorted, crushed and
pulverized to -75μm, split to produce a 40g
charge for either Fire assay (RC) or Aqua
Regia digest (RAB, AC) analysis for gold.
Samples were also analysed for Al, Fe, Mn,
V, Ag, As, Ba, Bi, Co, Cr, Cu, Mo, Ni, Pb, Sb,
Sc, Te, Tl, W and Zn by ICP and OES or MS
finish.
• 21 Grab rock chip samples from surface
outcrops were completed byYAM

Page 9 of 14

Criteria JORC Code explanation Commentary
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).
• RC drilling by YAM utilized a face sampling
percussion hammer with 51/2inch bits
• AC drilling by YAM utilized a face sampling
blade or hammer bit with a nominal hole
diameter of 80mm
• RAB drilling by YAM utilized a blade bit and
open hole sample collection method with a
nominal hole diameter of 80mm
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.
• YAM RC, AC and RAB drill recoveries were
visually estimated.
• All RC samples were dry and no significant
ground water was encountered. Sample
recovery was estimated to be good. Some
sample loss was encountered at the top of
hole
• YAM AC and RAB sample recovery was
mostly estimated to be good. Some wet
samples were encountered in RAB drilling at
the bottom of hole. These are <1% of
samples collected and were recorded in
geological logs.
• Drill cyclones were cleaned regularly
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.
• All YAM drill chips were geologically logged
on site by geologists following the CAZ
logging scheme.
• Logging recorded depth, colour, lithology,
texture, mineralogy, mineralization,
alteration and other features.
• All YAM drill holes were logged in full
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.
• YAM 1 metre RC drill samples fall through a
rotary cone‐splitter directly below the rig
mounted cyclone. A 2‐3 kg sample is
collected in an pre‐numbered calico bag,
and lined up in rows with the
corresponding plastic bag. The majority of
samples were dry, wet or dry samples were
appropriately recorded.
• YAM AC and RAB 1metre drill samples were
laid out on the ground in 10 metre rows. A
2-4 metre composite sample (2‐3 kg) was
collected using a metal scoop, into pre‐
numbered calico bags. The majority of
samples were dry, wet or dry samples were
appropriately recorded.
• Duplicate field sample composites were
collected in YAM RC drilling at the rate of 2
samples per hole
• Appropriate sampling protocols were used
during YAM RC, AC and RAB composite
sampling. These included scoop or spear
collection at various angles through bulk 1
metre sample bags orpiles to maximize

Page 10 of 14

Criteria JORC Code explanation Commentary
representivity.
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.
• All YAM RC samples were analysed using a
40g charge Fire Assay with an AAS finish
which is industry standard for gold analysis.
A 40g aqua regia digest with an MS finish
has been used for AC and RAB samples
which is industry standard for low level gold
analysis. This is considered a partial digest
Technique however in weathered samples
it is considered to approximate a total
digest assay.
• Samples were also analysed for Al, Fe, Mn,
V, Ag, As, Ba, Bi, Co, Cr, Cu, Mo, Ni, Pb, Sb,
Sc, Te, Tl, W and Zn by ICP and OES or MS
finish.
• Field duplicate samples were submitted
with each sample batch at a rate of 1 per 25
samples. The laboratory inserted standards,
blanks and duplicate samples. Results are
within tolerable limits
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.
• All YAM data has been checked internally by
senior CAZ staff
• CAZ is yet to collect 1m splits within
significant composite sample intercepts for
assay. Duplicate composite samples show
repeatable values with acceptable
tolerances within significant intercepts
where available
• Field data is collected using Field Marshal
software on Toughbook computer. The data
is validated using Micromine software in the
office.
• No adjustment to assaydata has been made
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.
• All YAM location points were collected using
handheld GPS in MGA 94 – Zone 51
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 grade continuity appropriate for the
Mineral Resource and Ore Reserve estimation
procedure(s) and classifications applied.
Whether sample compositing has been
applied.
• YAM RC drill holes were drilled at varying
spacing from 40m to 100m depending on
the target and geology. AC and RAB drilling
were drilled at 100m x 150m and 100m x
50m depending upon the targeting and the
geology. This AC/RAB spacing was utilized
for first pass testing of targets. Further RC
drilling is considered necessary before being
of sufficient density for Mineral Resource
estimation
• Four metre composite samples have been
collected for YAM RC drilling via spearing.
Four metre composite samples have been
collected for RAB/AC drilling using a metal
scoop
Orientation of
data in
Whether the orientation of sampling achieves
unbiased sampling of possible structures and
• YAM RC drilling at -60 degrees towards the
west(270)has appeared to confirm the

Page 11 of 14

Criteria JORC Code explanation Commentary
relation to
geological
structure
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.
interpreted east dipping stratigraphy
minimizing lithological bias. RC drilling is
considered sufficient to confirm primary
mineralized structure orientation dipping to
the east. AC/RAB drilling is not sufficient to
confidently predict orientation of structural
mineralisation
• No sampling bias is identified in the YAM RC
drill data
Sample
security
The measures taken to ensure sample security. • YAM RC samples were delivered by CAZ
staff directly to the laboratory depots in
Leonora and Kalgoorlie. The laboratory
managed secure transport of samples from
regional depots to the Perth laboratory
Audits or
reviews
The results of any audits or reviews of
sampling techniques and data.
• YAM Data is audited and reviewed in house
using Datashed and Micromine as well as
visual audits bysenior staff.

Section 2 Reporting of Exploration Results

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

Criteria JORC Code explanation 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 drilling in this report is located within
granted E38/3111, which is held 100% by CAZ
through wholly owned subsidiary company
Yamarna West Pty Ltd (YAM). YAM signed an
Access Agreement for exploration with The
Yilka Native Title Claimant group and the
Cosmo Newberry Community. These groups
have Native Title over the area through a
registered claim and Cosmo Newberry
Aboriginal Reserve.
• The tenement is in good standing with no
known impediments
Exploration
done by other
parties
Acknowledgment and appraisal of
exploration by other parties.
• Historic holders of the Project area include
Global Metals Exploration NL, Elmina NL,
Asarco Exploration Company and Kilkenny
Gold NL
• 86 RAB holes for 2,181m, 54 AC drill holes for
1,594m and 41 RC drill holes for 6,768m was
undertaken by Global Metals Exploration in
2011-12 which highlighted gold
mineralization in shallow weathered
basement at the “Central” prospect known
today as “Three Bears”
• Elmina, Asarco and Global Metals
geochemical sampling included 4,644 auger
samples, 453 rock chip samples and 7,135 soil
samples which has identified a number of
othergold and base metal anomalies
Geology Deposit type, geological setting and style
of mineralisation.
• Orogenic Archean gold mineralization
associated with major shears is targeted at
the Mt Venn Project. Base metal
mineralization is also targeted. The geology of
the mineralization is not yet known due to
the lack of information collected to date.

Page 12 of 14

Criteria JORC Code explanation Commentary
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.
• Refer to tables and body of text within this
announcement for drill hole locations and
results.
• Low level geochemical information has been
used from YAM and historic drilling to help
identify trends or the “footprint” of gold and
base metal mineralization. This is summarized
in figures and maps and considered
appropriate.
• A nominal 0.2g/t gold and 0.02% Zn, 0.02% Cu
and 1g/t Ag lower cut-off has been used and
reported as significant in the context of the
first pass drilling at a grassroots stage of
exploration.
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.
• No top cuts have been applied when
reporting results
• First assay from the interval is reported (Au1)
• Aggregate sample assays are calculated using
a length weighted average
• Significant RC assay results have been
reported based on >0.10g/t Au, 0.02% Cu,
0.02% Zn and 1g/t Ag.
• Significant AC/RAB assay results have been
reported based on >0.10g/t Au, 0.02% Cu,
0.02% Zn and 1g/t Ag
• A representative "gram metre" value has
been calculated and presented in parts of the
report using industry standard calculations
based on "g/t gold x metre interval"
aggregate over an anomalous intercept
length. This intercept is based on plus 0.10g/t
Au, 0.02% Cu, 0.02% Zn and 1g/t Ag values
and contains no more than one interval of
waste. This representation of grade is
considered appropriate for the style of
mineralisation.
• No metal equivalent values are 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’).
• Mineralisation intersected in YAM RC drilling
appears oblique to the orientation of the drill
holes. Reported mineralization down hole is
considered to be closely representative of
true widths. However, more information is
required to confirm true width of
mineralization.
• Orientation of mineralisation intersected in
YAM RAB/AC drilling is not known and
therefore true widths of mineralization is not
known
Diagrams Appropriate maps and sections (with
scales) and tabulations of intercepts should
be includedfor any significant discovery
• Refer to Maps, Figures and Diagrams in the
document

Page 13 of 14

Criteria JORC Code explanation Commentary
being reported These should include, but
not be limited to a plan view of drill hole
collar locations and appropriate sectional
views.
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.
• All YAM drill hole locations are reported and a
table of significant intercepts is provided in
previous ASX announcements by then parent
company Cazaly Resources Ltd (ASX: CAZ)
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.
• All meaningful and material information is
reported here and in previous ASX
announcements by then parent company
Cazaly Resources Ltd (ASX: CAZ)
Further work The nature and scale of planned further
work (eg tests for lateral extensions or
depth 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.
• Further Heritage Survey, drilling, ground
geophysical surveys, geological mapping and
prospecting is being planned and is expected
to commence within Q4 2019

Page 14 of 14