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PRODIGY GOLD NL Capital/Financing Update 2013

Sep 17, 2013

65615_rns_2013-09-17_bcd142b2-8bbf-445e-89a3-0438330bb13a.pdf

Capital/Financing Update

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ASX ANNOUNCEMENT / MEDIA RELEASE ASX:ABU

18th September 2013

Trial Mining and Processing Update at the Old Pirate High-Grade Gold Project

ABM Resources NL ("ABM" or "The Company") presents an update on the Trial Mining and Processing at the Old Pirate High-Grade Gold Project in the Northern Territory of Australia with the following highlights.

Pilot Processing

  • Processing plant performing well at 15 tonnes per hour.
  • Crusher and ball mill performing well with 100% of ball mill product less than 106 microns.
  • Knelson Concentrator recovering both coarse and fine gold.
  • Panning of tails reveals negligible free gold content indicating good recoveries in the plant (confirmatory assays pending).

Figure 1. Gold on Gemini Upgrade Table. Field of view ~30cm.

Trial Mining

Grade-control data for second bench received and compiled and areas being prioritised for Trial Mining:

Nine mine areas selected based on reasonable representation of grade, width, and differing geological characteristics.

Potential Bench 2Mining area Anticipatedstrikelength forBench 2 Vein widths ormineralised zonewidths Peak grade-controlassay(g/t gold) Average veingrade(g/t gold) Estimated dilutedTrial Mine headgrade(g/t gold)
Heartland Veins ~80m 20cm to 3m 1,840g/t 69.83g/t 10 to 25g/t
Western Limb North ~200m 20cm to 0.5m 294g/t 47.13g/t 10 to 15g/t
Central ~70m 1m to 6m 340g/t 20.12g/t 10 to 30g/t
Golden Hind ~70m 1m to 6m 331g/t 27.87g/t 25 to 45g/t
Eastern Limb ~60m 0.5m to 2m 76.70g/t 15.27g/t 5 to 15g/t
Eastern Limb North ~50m 20cm to 1m 48.70g/t 10.72g/t 5 to 10g/t
East Side South ~60m 20cm to 2m 293g/t 43.65g/t 10 to 20g/t
East Side North ~20m 20cm to 1m 354g/t 69.54g/t 15 to 20g/t
Old Pirate South ~70m 20cm to 8m 1,490g/t 83.15g/t 15 to 25g/t

Trialling of leach-well assays, using significantly larger sample sizes than fire assays indicating 13% more gold than fire assay.

.

Trial Mining and Processing Update

ABM is committed to a staged approach to the development of the Old Pirate High-Grade Gold Project. Stage One, conducted under an exploration license, involves the extraction and processing of up to 10,000 tonnes of gold-bearing material to test the system for grade reconciliation, recovery and dilution management. ABM anticipates that Trial Mining and Processing, using a modular pilot processing plant, will increase geological understanding of the mineralisation controls as well as expose new mineralised zones not previously identified as part of exploration work to date. The Trial Mining is ABM's equivalent of a feasibility study but has the advantage of providing more robust data, as well as producing saleable gold.

The Pilot Processing Facility

Figure 2. Fine gold in concentrate on the Gemini Table. Field of view ~ 50cm.

ABM continues to optimise throughput and improve recovery at the pilot processing plant. The Company has been adjusting and trialling various rates of throughput and slurry density to achieve optimal recoveries and maximise sustainable throughput. The Knelson Concentrator is recovering both the fine and coarse gold. Currently the coarse gold jig is bypassed to simplify the circuit, prevent bogging of lines and maintain a steady state throughput of 15 tonnes per hour. The jig will be re-integrated as and when appropriate. Given the outstanding performance and capacity of the Knelson Concentrator the bypassing of the jig is not thought to materially affect recoveries.

The Company does not have an on-site laboratory and hence is waiting on assays of the tails to assess the overall recovery. However, panning of tailings samples has revealed negligible amounts of gold compared to the gold being captured in the Knelson Concentrator and seen across the Gemini Table. It is normal for gold to build up in the circuit during the early stages of processing and the Company has observed steadily increasing gold-inconcentrate as gold-in-circuit builds up and reaches a steady state.

High-grade, gold-bearing concentrate is being securely stored on site in preparation for campaign smelting. Test smelting of concentrate has been carried out to assess how much upgrading is required for a smelt product and the gold separated well from the slag in the furnace.

Trial Mining – Grade-Control and Selection of Bench 2 Zones

ABM is trial mining selected areas of the Old Pirate mineralised system. The selected areas have been chosen based on grade and mining width as well as choosing a reasonable representation of the various geological / vein styles of the system. It should be noted that not all mineralised zones / veins will be mined during Trial Mining; and other near or at surface veins will be mined as part of Stage Two mining. The first bench (1 to 1.5m depth) is complete and over 5,000 tonnes of material has been extracted. The second bench mining is underway and is complete at the Golden Hind area. The Company is intentionally mining the system slowly to allow time for geological mapping and sampling. The geological information collected is a very important part of the trial process and will be used to design the mine for Stage Two.

Detailed grade-control sampling has been completed for the top of the second bench of the Trial Mine areas. Grade-control sampling has included both cross-sampling (orthogonal to strike direction of the veins) and longitudinal sampling (parallel to strike direction of the veins). The cross-sampling involves cutting a channel across the mineralised zones at 5 to 25m spacing and collecting samples to geological boundaries and contacts. The longitudinal sampling is similar to the longitudinal trenching conducted at surface by the Company during 2011 and 2012. Whilst represented as a point on maps, longitudinal sampling involves collecting representative channel samples from along the strike of the vein over a nominal 2.5 metre length. The vein widths / mineralised zone widths are established in the cross-trench work.

Grade-control, in general, has reconciled with previous surface work and is within the bounds expected from the resource estimation work. There is evidence that high-grade zones within individual veins are plunging to the south as per the resource model. Several veins have revealed good 'blow-outs' where the vein width increases over a short-strike length to increase overall tonnes per vertical metre. It is important to note that in a coarse gold / high-grade system such as Old Pirate grade-control is used as a guide only. During Trial Mining the digging is guided by the grade-control data, the geological mapping and the supervising geologist following the visible gold in veins.

Some samples are still pending assay and the zones presented here may change as information comes to hand. Table 1 summarises the potential high-grade zones for Bench 2 mining.

Potential Bench 2Mining area Anticipatedstrikelength forBench 2 Geologicaldescription Vein widths ormineralised zonewidths Peak grade-controlassay(g/t gold) Average veingrade(g/t gold) Estimated dilutedTrial Mine headgrade(g/t gold)
Heartland Veins ~80m Narrow grey shearveinswithcoarsegold. 20cm to 3m 1,840g/t 69.83g/t 10 to 25g/t
Western Limb North ~200m Narrow vein hosted inshale, very straight. 20cm to 0.5m 294g/t 47.13g/t 10 to 15g/t
Central ~70m Multipleveinsofvarious orientations atfold nose / shearintersection. Quartz isvery white with coarsevisible gold. 1m to 6m 340g/t 20.12g/t 10 to 30g/t
Golden Hind ~70m Very coarse gold inquartzveinsandblack shale / shearzones. 1m to 6m 331g/t 27.87g/t 25 to 45g/t
Eastern Limb ~60m Anastomosing veinsinshearzones/shale. 0.5m to 2m 76.70g/t 15.27g/t 5 to 15g/t
Eastern Limb North ~50m Fine and coarse goldveins in shale. 20cm to 1m 48.70g/t 10.72g/t 5 to 10g/t
East Side South ~60m Fine gold in veinshosted by shale. 20cm to 2m 293g/t 43.65g/t 10 to 20g/t
East Side North ~20m Fine gold in veinshosted by shale. 20cm to 1m 354g/t 69.54g/t 15 to 20g/t
Old Pirate South ~70m Fine gold in veinshosted by shale. Blowout zone averaging159g/t and up to 8mwide. 20cm to 8m 1,490g/t 83.15g/t 15 to 25g/t

Table 1. Summary of Bench 2 grade-control data. Refer to Appendix 2 for grade-control data.

Estimated diluted Trial Mine head-grade is based on higher dilution factors for narrow veins along with grade-control, de-clustering of data points, reducing the influence of high-yield samples (such as 1,490g/t gold at Old Pirate South, and 1,840g/t gold at Heartland Veins), geological characteristics and in the case of Golden Hind, the high-grade coarse visible gold already observed in mining of Bench 2.

Figure 3. LEFT - Heartland Veins grade-control data from top of second bench. RIGHT – Western Limb North grade-control data from top of second bench. Samples >10g/t labelled and for duplicate samples highest value shown.

Figure 4. LEFT – Old Pirate Central grade-control data for second bench. RIGHT – Golden Hind grade-control data from top of second bench. Samples >10g/t labelled and for duplicate samples highest value shown.

Figure 5. LEFT – Eastern Limb grade-control data for second bench. RIGHT – Eastern Limb North grade-control data from top of second bench. Samples >10g/t labelled and for duplicate samples highest value shown.

Figure 6. LEFT – East Side South grade-control data for second bench. RIGHT – East Side north grade-control data from top of second bench. Samples >10g/t labelled and for duplicate samples highest value shown.

. Figure 7. Old Pirate South grade-control data for second bench. Samples >10g/t labelled and for duplicate samples highest value shown.

Trialling of Different Assay Techniques

As detailed in the resource estimation and press release dated 04/02/2013, a key recommendation of external reviewers was for ABM to trial different assay techniques to help better analyse the coarse gold. The Company has typically used fire assay where an entire sample is pulped and homogenised and a 30 to 50g charge is taken for fire assay. This is a common assay method but in coarse gold systems the relatively small charge (30 to 50g) may not capture a piece of coarse gold and hence under-call. Leach-well analysis is an alternative to fire assay techniques and involves pulping and digesting an entire 500g sample for analysis and hence, due to the larger sample size, is considered more accurate. The leach-well process takes longer to complete and is more expensive and is not considered a practical technique to use in everyday grade-control. However, the Company has followed the recommendations of external consultants and selects every 20th sample greater than 1g/t gold to compare fire assay with leach-well analysis.

Of the 35 samples re-assayed using leach-well analysis a total of 24 samples (68%) showed a higher result from leach-well versus fire assay. The overall difference in the two techniques is approximately 13% (being that fire assay, on average, under-calls by approximately 13%). The higher grade samples (>80g/t) in particular show a marked increase in grade when leach-well assaying is conducted. The implication of this work is that fire assayed samples used in the resource estimation may have under-called the grade. This work is ongoing and further tests are being carried out. Refer to figure 8 below and also to Appendix 3.

Figure 8. Fire Assay vs Leach-Well Test.

**(**Note - The upper limit of leach-well analysis is 300g/t gold and hence for samples grading >300g/t gold the value is top-cut and actual grade may be higher).

Figure 9. Old Pirate Trend Gold System.

About Old Pirate

The Old Pirate Trend consists of a series of gold-bearing quartz veins over a 1.8 kilometre strike length, consisting of 3 distinct vein clusters of mineralisation named Old Pirate, Old Glory and Golden Hind deposits. Gold mineralisation is hosted primarily within narrow quartz veins of between 20cm and 6m in width. Mineralised zones are up to 40m in width and consist of multiple veins hosted primarily within sedimentary shale horizons which are part of a turbidite sequence (interbedded sandstone and shales). Structurally the turbidite sequence has been folded into a faulted anticline.

The Old Pirate Gold Deposit has a total uncut mineral resource estimate of 1.88Mt averaging 11.96g/t gold for 723,800 ounces (refer Appendix 1) and has a number of key advantages compared to other projects in Australia. Firstly, metallurgical test work indicates that up to 97.3% of gold can be recovered from low cost / low capital expenditure gravity processing methods (refer release dated 05/09/2012). Secondly, there is abundant highgrade gold observed in multiple quartz veins extending from surface to depths of greater than 200m. The project has a high coarse gold content (statistical nugget effect) resulting in a high variability of grade between samples. By trialling multiple techniques, the Company has established that the collection of larger sample sizes results in a generally higher grade assay. This sampling effect is typical in coarse gold systems where drilling generally under-calls the overall grade.

As a result, the Company is not undertaking the standard feasibility study process involving detailed desktop studies and drilling, but is instead conducting a staged approach to development where the Trial Mining (Bulk Sampling) forms a key part of determining the costs and feasibility of a full-scale mine, and allows for ongoing 'inmine' exploration. The Trial Mining involves installation of a gravity gold plant that will be used and expanded in the subsequent stages.

The staged process takes advantage of the low engineering risk at Old Pirate and allows the Company to keep up-front capital expenditure to a minimum. The objective is for each stage of development to be profitable with quick payback periods, and to provide the capital required for the subsequent stages from cash flow.

About ABM Resources

ABM is an exploration Company developing several gold discoveries in the Central Desert region of the Northern Territory of Australia. The Company has a multi-tiered approach to exploration and development with a combination of high-grade potentially short-term production scenarios such as the Old Pirate High-Grade Gold Project (currently undergoing Trial Mining), large scale discoveries such as Buccaneer, and regional exploration discoveries such as the Kroda Gold Project. In addition, ABM is committed to regional exploration programs throughout its extensive holdings.

Figure 10. ABM Project Location Map in Northern Territory.

Signed

Darren Holden – Managing Director

Competent Persons Statement

The information in this report that relates to Exploration Results or Mineral Resources is based on information compiled by Mr Darren Holden who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Holden is a full time employee of ABM Resources NL and 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 2004 Edition of the "Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves". Mr Holden consents to the inclusion in the documents of the matters based on this information in the form and context in which it appears.

For Further Information Please Contact

Jutta Zimmermann Darren Holden Berdine Mastaglia
CFO / Company Secretary Managing Director Investor Relations Manager
+61 8 9423 9777 +61 8 9423 9777 +61 8 9423 9777

APPENDIX 1. Resource Estimations

1. Old Pirate Resources Estimations

Table 1.1 Old Pirate Trend Overall High-Grade Mineral Resource Estimation February 2013

Gold Grade Gold Grade Ounces Gold Ounces Gold
Category Tonnes (g/t) (g/t)
(300g/t top‐cut) (uncut) (300g/t top‐cut) (uncut)
Indicated 889,000 8.19 8.93 234,100 255,300
Inferred 993,000 11.80 14.67 376,900 468,500
Total 1,882,000 10.10 11.96 611,000 723,800

Mineral Resources estimated at 1g/t cut-off except for the Central Zone estimated at a 3g/t cut-off. Totals may vary due to rounding. There is an additional 414,900 tonnes averaging 1.74g/t gold for 23,300 ounces of gold in low-grade Indicated Resource in the Central Zone (>1g/t, <3g/t cut-offs).

For further information refer to ASX release dated 04/02/2013.

2. Buccaneer HGZ Resources Estimations

Table 2a. Combined Resource Estimation with no top-cut, using a 1g/t block model cut-off

Tonnes Gold $(g/t)$ Ounces
Indicated 7,117,000 2.25 515,300
Inferred 8,183,000 2.78 732,200
Total 15,300,000 2.54 1,247,500

Table 2b. Combined Resource Estimation using a variable top-cut, and a 1g/t block model cut-off

Tonnes Gold (g/t) Ounces Tonnes Gold (g/t) Ounces
Indicated 7,117,000 2.25 515,300 Indicated 7,117,000 2.00 458,500
Inferred 8,183,000 2.78 732,200 Inferred 8,183,000 2.43 639,700
Total 15,300,000 2.54 1,247,500 Total 15,300,000 2.23 1,098,200

Table 2d. Combined Resource Estimation using a variable top-cut, and a 2g/t block model cut-off

Table 2c. Combined Resource Estimation with no top-cut, using a 2g/t block model cut-off

Tonnes Gold (g/t) Ounces Tonnes Gold (g/t) Ounces
Indicated 2,261,000 4.17 303,000 Indicated 2,261,000 3.39 246,200
Inferred 3,573,000 4.56 523,500 Inferred 3,573,000 3.75 431,100
Total 5,834,000 4.41 826,500 Total 5,834,000 3.61 677,300

Note – totals may vary due to rounding

For further information refer to ASX release dated 05/02/2013.

3. Twin Bonanza Global Resource (Old Pirate and Buccaneer)

Table 3.1 Twin Bonanza Global Resource with Old Pirate at 1g/t cut-off & Buccaneer at 2.0g/t cut-off

Project Tonnesall categories Grade (g/t Au)all categories Ounces gold
Old Pirate Trend 1,882,000 10.1 611,000
Buccaneer HGZ 5,834,000 3.61 677,300
Total 7,716,000 5.19 1,288,300
Table 3.2 Twin Bonanza Global Resource with Old Pirate & Buccaneer at 1.0g/t cut-off
-------------------------------------------------------------------------------------- -- --
Project Tonnesall categories Grade (g/t Au)all categories Ounces gold
Old Pirate Trend 1,882,000 10.1 611,000
Buccaneer HGZ 15,300,000 2.23 1,098,200
Total 17,182,000 3.10 1,709,200

Note – totals may vary due to rounding

For further information refer to ASX release dated 05/02/2013.

14

APPENDIX 2. Longitudinal and Cross Channel Samples

All samples in the below tables collected by ABM personnel relate to samples in the Bench 2 potential mining areas only. Samples outside of those areas are not shown. Samples fall within the overall high-grade zones and are used as gradecontrol for Bench 2. Longitudinal samples are collected over a nominal 2.5m length parallel to vein. The cross-channel samples are collected orthogonal to the strike of the vein with samples selected to geological boundaries. All samples assayed by ALS Global in Alice Springs and Perth using Fire Assay AA-26d and for samples over 100g/t AA26d-overlimit dilution method. Select samples also re-assayed using leach-well analysis (refer Appendix 3).

Sample ID Easting Northing Elevation Gold (g/t)
OPBS100690 516450.0 7768320.0 447.9 294.00
OPBS101063 516482.2 7768202.4 448.7 279.00
OPBS100691 516450.6 7768318.4 448.0 242.00
OPBS101062 516481.6 7768204.2 448.6 187.50
OPBS101092 516499.0 7768146.0 448.8 186.00
OPBS101041 516469.7 7768244.5 448.4 177.00
OPBS101065 516483.6 7768198.1 448.7 163.00
OPBS101085 516495.6 7768158.9 448.9 155.00
OPBS101068 516485.4 7768192.4 448.7 152.00
OPBS101090 516497.9 7768150.1 448.8 139.50
OPBS101045 516471.9 7768236.5 448.5 138.00
OPBS101061 516481.1 7768205.8 448.6 127.00
OPBS101095 516500.9 7768140.0 448.8 126.00
OPBS100702 516456.3 7768288.5 448.0 112.50
OPBS101032 516464.5 7768261.4 448.5 108.00
OPBS100701 516455.8 7768290.2 448.1 107.00
OPBS101049 516474.3 7768228.9 448.6 98.40
OPBS101093 516499.5 7768144.6 448.8 96.00
OPBS101070 516486.9 7768188.8 448.8 93.90
OPBS101067 516485.0 7768194.5 448.8 83.30
OPBS101087 516496.3 7768155.8 448.8 82.60
OPBS101042 516470.4 7768242.2 448.5 77.70
OPBS100698 516454.5 7768295.2 448.2 76.80
OPBS101072 516487.9 7768185.0 448.7 75.00
OPBS101053 516476.4 7768221.7 448.7 70.30
OPBS101034 516465.8 7768257.8 448.5 65.10
OPBS100696 516453.5 7768299.8 448.1 54.30
OPBS101066 516484.3 7768196.2 448.8 54.10
OPBS100699 516454.8 7768293.8 448.1 52.10
OPBS101056 516478.5 7768216.0 448.6 49.20
OPBS100707 516458.9 7768278.4 448.2 41.60
OPBS101071 516487.4 7768186.7 448.8 41.60
OPBS101075 516488.9 7768178.1 448.7 41.10
OPBS101040 516469.2 7768246.1 448.4 40.60
OPBS100703 516456.7 7768286.5 448.0 38.60
OPBS101084 516494.4 7768161.4 448.9 37.90
OPBS100700 516455.3 7768292.2 448.1 33.30
OPBS101043 516470.8 7768240.6 448.5 32.80
OPBS101074 516488.4 7768179.7 448.6 31.40
OPBS100704 516457.4 7768284.2 448.0 27.40
OPBS101031 516463.1 7768263.0 448.5 27.20
OPBS100688 516448.4 7768323.2 447.7 25.70
OPBS100706 516458.3 7768280.5 448.1 22.60
OPBS100705 516457.7 7768282.6 448.2 22.50
OPBS101044 516471.3 7768239.0 448.4 21.30
OPBS101038 516468.1 7768249.9 448.5 20.70
OPBS101077 516490.1 7768174.6 448.8 20.10
OPBS101069 516486.4 7768190.5 448.8 19.95
OPBS101064 516482.9 7768200.0 448.7 19.55
OPBS101033 516465.2 7768259.6 448.5 17.20
OPBS101094 516500.1 7768142.5 448.8 17.20
OPBS101081 516492.6 7768166.5 448.9 14.85
OPBS101078 516490.7 7768172.9 448.8 14.70
OPBS100684 516445.0 7768332.9 447.6 14.65
OPBS100697 516454.0 7768298.0 448.3 13.65
OPBS101036 516467.0 7768253.5 448.5 11.50
OPBS101037 516467.4 7768251.8 448.6 11.20
OPBS100683 516443.7 7768335.4 447.6 10.95
OPBS101091 516498.5 7768147.7 448.8 9.74
OPBS101083 516493.6 7768163.4 448.7 9.10
OPBS100692 516451.4 7768316.3 447.9 8.83
OPBS101025 516459.9 7768274.5 448.5 8.78
OPBS101024 516459.5 7768276.4 448.3 8.67
OPBS101057 516478.8 7768213.9 448.7 8.33
OPBS101048 516473.7 7768230.8 448.7 8.02
OPBS101073 516488.5 7768182.6 448.7 7.68
OPBS100708 516459.5 7768276.4 448.3 7.61
OPBS100694 516452.4 7768312.1 448.1 7.55
OPBS100695 516453.0 7768310.2 448.0 6.77

Table A1. Western Limb North Longitudinal Samples

Gold (g/t)
516462.6 7768265.0 448.7 6.42
516473.2 7768232.5 448.6 5.30
516451.7 7768314.5 448.0 4.89
516491.3 7768171.0 448.9 4.84
516448.9 7768321.8 447.8 4.43
516466.4 7768255.8 448.5 4.08
516445.9 7768328.9 447.7 3.46
516476.0 7768223.0 448.6 3.28
516446.6 7768327.0 447.7 3.13
516480.3 7768208.0 448.6 3.04
516462.0 7768267.0 448.6 2.85
516496.9 7768153.5 448.8 2.55
516445.5 7768331.1 447.6 2.54
516496.0 7768157.5 448.9 2.24
516493.0 7768165.3 448.8 2.19
516479.4 7768211.3 448.7 1.99
516497.2 7768151.9 448.8 1.93
516489.4 7768176.3 448.8 1.16
516477.1 7768219.3 448.7 1.11
516474.8 7768227.0 448.6 1.02
516475.2 7768225.4 448.6 1.02
516460.4 7768272.7 448.5 0.76
516460.8 7768270.8 448.5 0.68
516468.6 7768248.1 448.5 0.63
516461.4 7768268.9 448.6 0.60
516442.2 7768339.6 448.1 0.55
516441.6 7768341.6 447.9 0.13
516442.8 7768338.5 447.6 0.09
Easting Northing Elevation

Table A2. Western Limb Cross Channel Samples

Sample ID Easting Northing Elevation Width Gold (g/t)
T09457 516486.7 7768189.1 449.2 0.5 21.90
T09422 516469.3 7768246.8 448.0 1.0 4.92

Table A3. Eastern Limb North Longitudinal Samples

Sample ID Easting Northing Elevation Gold (g/t)
OPBS101594 516636.6 7768023.7 449.8 23.5
OPBS101592 516636.6 7768016.8 450.0 11.9
OPBS101591 516636.3 7768014.4 450.0 10.8
OPBS101585 516638.2 7767989.6 450.1 9.73
OPBS101597 516636.6 7768029.2 450.0 6.1
OPBS101593 516636.7 7768022.2 450.0 3.91
OPBS101595 516636.7 7768025.2 449.7 3.88
OPBS101599 516636.9 7768033.7 450.1 3.44
OPBS101590 516636.8 7768012.6 450.0 3.28
OPBS101596 516636.7 7768027.1 449.9 2.84
OPBS101587 516638.8 7768003.1 450.2 0.54
OPBS101586 516637.5 7767995.6 450.1 0.31
OPBS101598 516636.9 7768032.7 450.0 0.1

Table A4. Eastern Limb North Channel Samples

Sample ID Easting Northing Elevation Width Gold (g/t)
OPBS101555 516636.9 7768035.2 450.1 0.3 48.70
OPBS101565 516636.7 7768020.9 450.0 0.3 41.90
OPBS101575 516639.0 7768001.4 450.1 0.2 17.25
OPBS101559 516636.8 7768030.9 450.0 0.5 4.72
OPBS100990 516638.8 7768003.3 450.4 0.4 0.12

Table A5. East Side North Longitudinal Samples

Sample ID Easting Northing Elevation Gold (g/t)
OPBS101295 516721.3 7767917.9 451.0 300
OPBS101293 516721.6 7767922.5 451.1 53.1
OPBS101292 516721.5 7767930.7 451.0 40.6
OPBS101297 516721.8 7767908.4 451.3 5.66
OPBS101289 516722.1 7767927.1 451.1 0.85
OPBS101296 516721.8 7767911.8 451.2 0.3

Table A6. East Side North Channel Samples

Sample ID Easting Northing Elevation Width Gold (g/t)
T09570 516721.5 7767914.7 451.7 0.2 354.00
OPBS101277 516721.9 7767925.1 451.1 0.4 59.50
OPBS101276 516721.5 7767925.1 451.0 0.3 17.55
OPBS101264 516721.8 7767915.3 451.1 0.9 1.76
OPBS101263 516721.0 7767915.0 451.1 1.1 0.81
OPBS101275 516721.2 7767925.1 450.9 0.4 0.30

Table A7. Eastern Limb Longitudinal Samples

Sample ID Easting Northing Elevation Gold (g/t)
OPBS101492 516644.6 7767861.3 450.9 75.4
OPBS101491 516645.7 7767869.0 451.0 75
OPBS100925 516641.7 7767860.7 451.6 22.2
OPBS101487 516643.8 7767887.7 450.9 26.9
OPBS101495 516636.9 7767861.9 451.0 12.75
OPBS101496 516636.7 7767869.7 450.8 12.4
OPBS101549 516643.0 7767891.6 450.8 12.15
OPBS101490 516645.4 7767872.3 450.9 8.32
OPBS101493 516641.7 7767859.8 451.0 7.97
OPBS101489 516645.7 7767877.5 450.8 7.66
OPBS101548 516642.2 7767897.4 450.9 4.32
OPBS100992 516644.5 7767865.4 451.2 4.11
OPBS101488 516645.6 7767881.6 450.9 2.56
OPBS101497 516636.0 7767873.4 450.7 0.71

Table A8. Eastern Limb Channel Samples

Sample ID Easting Northing Elevation Width Gold (g/t)
OPBS101463 516645.4 7767864.9 450.9 0.8 76.70
OPBS101461 516644.8 7767864.9 450.9 0.9 21.20
OPBS101483 516646.0 7767885.7 450.9 1.9 19.50
OPBS101472 516645.5 7767875.6 450.9 1.5 11.30
OPBS101510 516642.6 7767895.4 450.8 0.8 7.24
OPBS101469 516636.7 7767875.1 450.6 1.8 6.80
OPBS101517 516640.0 7767904.3 450.9 0.3 3.94
OPBS101460 516644.3 7767865.0 450.8 0.4 2.78
OPBS101456 516637.1 7767865.1 450.8 0.4 2.46
OPBS101518 516640.3 7767904.3 450.8 0.2 1.96
OPBS101508 516640.6 7767894.9 450.9 1.2 0.54
OPBS100761 516641.3 7767900.3 450.8 0.4 0.32
OPBS101466 516647.5 7767864.9 451.0 0.9 0.20
OPBS101509 516641.7 7767895.1 450.8 1.2 0.16

Table A9. Heartland Longitudinal Samples

Sample ID Easting Northing Elevation Gold (g/t)
OPBS100986 516623.7 7767940.2 450.4 79.1
OPBS100663 516618.4 7767960.3 451.4 30.1
OPBS100987 516617.8 7767963.7 450.2 9.92
OPBS100989 516613.7 7767979.8 450.0 0.65

Table A10. Heartland Channel Samples

Sample ID Easting Northing Elevation Width Gold (g/t)
OPBS101633 516618.5 7767958.6 449.7 0.7 1840.00
OPBS101627 516620.2 7767948.6 450.0 1.4 101.00
OPBS101637 516619.6 7767958.8 449.8 1.7 58.40
OPBS101605 516624.5 7767922.8 451.2 1.2 38.30
t09267 516617.1 7767966.3 451.0 0.5 26.20
OPBS101642 516616.4 7767968.7 449.6 0.4 22.70
OPBS101655 516611.7 7767986.9 450.0 0.7 20.80
OPBS100958 516615.4 7767972.0 450.1 0.3 20.20
OPBS101617 516624.4 7767939.4 450.2 1.9 12.20
T09245 516618.5 7767959.3 451.2 1.0 10.10
T09251 516618.6 7767958.8 451.2 1.0 9.69
t09302 516606.7 7768004.5 450.7 1.0 5.37
t09259 516616.3 7767966.8 451.1 1.0 4.71
OPBS101607 516621.2 7767929.4 449.9 0.5 3.32
OPBS101661 516609.9 7767996.2 449.8 0.9 3.27
OPBS101628 516621.8 7767948.8 450.1 1.8 3.01
OPBS101649 516614.0 7767977.9 449.8 0.3 2.29
t09306 516606.9 7768004.0 450.7 1.0 1.13
T09253 516619.5 7767958.6 451.0 1.0 1.12
OPBS101641 516615.8 7767968.5 449.7 1.0 0.21
T09246 516619.5 7767959.1 451.0 1.0 0.16
t09266 516616.3 7767966.3 451.1 1.0 0.16
T09248 516620.5 7767959.0 451.1 1.0 0.09
T09254 516620.2 7767958.5 451.1 0.5 0.09
t09260 516617.1 7767966.8 451.0 0.5 0.08
OPBS101650 516614.3 7767977.9 449.7 0.3 0.04
t09243 516614.6 7767976.6 450.6 0.9 0.04
t09294 516607.4 7768001.9 450.5 1.0 0.01
t09296 516607.9 7768002.0 450.5 0.5 0.01

Table 11. Old Pirate South Longitudinal Samples

Sample ID Easting Northing Elevation Gold (g/t)
OPBS101167 516701.8 7767702.4 451.3 1490
OPBS101152 516713.9 7767729.5 451.4 376
OPBS101153 516711.9 7767724.7 451.3 136
OPBS101151 516714.1 7767731.4 451.5 125
OPBS101161 516706.2 7767710.2 451.2 78.7
OPBS101158 516710.5 7767715.9 451.4 62.1
OPBS101166 516702.8 7767705.9 451.1 58
OPBS101165 516705.7 7767712.2 452.4 54.1
OPBS101150 516714.3 7767734.6 451.4 35.6
OPBS101154 516712.0 7767722.8 451.4 30.8
OPBS101157 516711.3 7767719.8 451.3 27.9
OPBS101164 516706.1 7767711.7 451.8 19.4
OPBS101172 516700.5 7767688.1 451.2 10
OPBS101148 516715.5 7767741.3 451.4 8.37
OPBS101169 516700.1 7767700.4 451.4 7.65
OPBS101162 516705.0 7767705.8 451.3 7.28
OPBS101149 516715.1 7767739.1 451.4 7.12
OPBS101168 516700.2 7767702.0 451.4 5.65
OPBS101170 516699.5 7767700.0 451.5 5.07
OPBS101147 516715.7 7767743.8 451.3 3.6
OPBS101160 516706.5 7767712.5 451.9 0.32
OPBS101175 516699.3 7767687.0 451.3 0.29

Table A12. Old Pirate South Channel Samples

Sample ID Easting Northing Elevation Width Gold (g/t)
OPBS101112 516701.9 7767703.7 451.3 1.0 209.00
OPBS101010 516713.1 7767726.8 451.2 0.5 178.00
T09561 516699.3 7767687.7 452.0 0.6 155.00
OPBS101111 516700.9 7767703.8 451.3 1.0 133.00
OPBS101115 516703.6 7767703.2 451.2 0.7 78.20
OPBS101135 516700.3 7767688.8 451.2 0.4 49.60
OPBS101117 516704.4 7767703.1 451.3 0.9 45.40
OPBS101018 516710.5 7767717.1 451.4 0.5 25.30
OPBS101113 516702.8 7767703.5 451.2 0.8 18.80
OPBS101099 516705.3 7767708.0 451.1 0.5 12.95
OPBS101118 516705.0 7767703.0 451.4 0.4 10.40
OPBS101101 516707.0 7767707.6 451.2 0.9 9.92
OPBS101002 516714.6 7767736.8 451.5 0.6 6.96
OPBS101121 516699.8 7767698.8 451.5 0.8 3.05
OPBS100994 516716.3 7767746.4 451.3 0.5 3.00
OPBS101013 516715.7 7767726.4 451.3 1.9 2.62
T09562 516700.0 7767687.7 451.9 0.9 2.02
OPBS101012 516714.1 7767726.6 451.3 1.5 0.10
OPBS101100 516706.1 7767707.8 451.1 1.1 0.09
OPBS100184 516700.5 7767687.7 451.7 0.4 0.03

Table A13. Old Pirate Central Longitudinal Samples

Sample ID Easting Northing Elevation Gold (g/t)
OPBS100659 516644.5 7767806.8 451.9 251
OPBS100658 516642.8 7767803.7 451.6 39.5
OPBS101427 516630.8 7767819.3 450.3 34.6
OPBS101433 516635.6 7767838.3 450.7 31.3
OPBS101449 516644.8 7767807.7 450.4 27.5
OPBS101436 516638.9 7767829.9 450.7 17.35
OPBS101438 516639.1 7767827 450.7 10.35
OPBS101443 516641.3 7767818.1 450.7 10.3
OPBS101450 516645.1 7767806.2 450.3 9.3
OPBS101440 516641 7767824.9 450.7 9.04
OPBS101425 516626.3 7767823.6 450.5 8.92
OPBS101432 516635.4 7767840 450.7 8.61
OPBS101445 516642.9 7767810.8 450.6 8.39
OPBS100974 516635.3 7767840.9 450.9 6.35
OPBS101442 516641 7767819.6 450.6 6.01
OPBS101428 516631.4 7767818.6 450.4 5.53
OPBS100978 516642.9 7767809.7 450.8 4.89
OPBS101447 516645.9 7767810.6 450.5 3.08
OPBS100976 516638.4 7767832.2 451.3 2.57
OPBS101424 516624.9 7767824.9 450.4 2.47
OPBS101446 516644.5 7767809.7 450.5 2.1
OPBS101452 516647 7767810.5 450.7 2
OPBS101434 516636.1 7767835.3 450.7 1.86
OPBS101441 516639.8 7767823.9 450.6 1.82
OPBS100977 516640.7 7767822 451 1.5
OPBS101437 516638.9 7767828 450.7 0.98
OPBS101426 516627.9 7767822 450.1 0.93
OPBS100872 516646.9 7767800.5 450.8 0.57
OPBS101429 516632.3 7767818.1 450.3 0.15

Table A14. Old Pirate Central Channel Samples

Sample ID Easting Northing Elevation Width Gold (g/t)
OPBS101376 516639.9 7767821.6 450.6 0.4 340.00
OPBS101361 516641.5 7767812.5 450.6 0.9 49.30
OPBS100347 516646.8 7767799.8 450.7 0.5 24.10
OPBS101396 516632.5 7767820.7 450.2 2.3 22.70
OPBS101398 516630.4 7767820.6 450.2 0.9 15.05
OPBS101363 516642.3 7767813.0 450.6 0.9 13.05
OPBS101353 516650.2 7767796.5 450.3 0.7 9.64
OPBS101387 516637.1 7767833.5 450.7 1.0 9.53
OPBS101366 516644.3 7767813.3 450.6 0.4 9.09
OPBS101400 516628.5 7767820.1 450.1 1.4 5.41
OPBS100395 516635.2 7767840.2 450.9 0.8 5.05
OPBS101397 516631.2 7767820.6 450.2 0.6 3.77
OPBS101391 516635.3 7767843.1 450.8 0.4 3.74
OPBS101371 516634.9 7767820.8 450.2 1.3 3.02
OPBS101377 516640.6 7767821.8 450.6 1.0 2.60
OPBS101399 516629.6 7767820.4 450.1 0.8 0.55
OPBS101365 516643.4 7767813.3 450.6 1.4 0.34
OPBS100396 516636.2 7767840.2 450.9 1.2 0.14
OPBS101370 516633.9 7767820.6 450.1 0.8 0.12
OPBS100346 516646.0 7767799.9 450.7 1.0 0.09
OPBS101352 516649.5 7767796.2 450.3 0.6 0.04
OPBS100348 516647.6 7767799.8 450.6 1.0 0.02

Table A15. East Side South Longitudinal Samples

Sample ID Easting Northing Elevation Gold (g/t)
OPBS101204 516713.8 7767775.5 451.3 293
OPBS101202 516714.4 7767782.9 451.6 198
OPBS101203 516714.4 7767780.1 451.6 115
OPBS101198 516716.3 7767792.8 451.8 81.1
OPBS101201 516714.4 7767785.7 451.7 63.1
OPBS101205 516713.5 7767773.0 451.3 27.5
OPBS101238 516722.9 7767813.8 451.7 24
OPBS101237 516722.8 7767819.0 451.7 16.9
OPBS101244 516719.2 7767801.7 451.7 12.65
OPBS101240 516723.1 7767808.9 451.7 9.83
OPBS101236 516722.3 7767820.3 451.7 5.32
OPBS101234 516722.5 7767824.3 451.6 3.35
OPBS101199 516716.0 7767791.5 451.7 2.88
OPBS101235 516722.3 7767822.1 451.6 1.62
OPBS101200 516714.6 7767789.6 451.7 1.14
OPBS101239 516723.2 7767811.1 451.7 0.47

Table A16. East Side South Channel Samples

Sample ID Easting Northing Elevation Width Gold (g/t)
OPBS100136 516719.2 7767802.5 452.1 0.4 98.80
OPBS101220 516722.8 7767816.5 451.7 0.3 57.10
OPBS101181 516714.1 7767777.8 451.5 0.9 22.60
OPBS101215 516722.8 7767806.5 451.7 0.3 4.93
OPBS101195 516716.4 7767794.2 452.0 0.2 3.80
OPBS101210 516721.6 7767799.3 451.8 0.5 2.62
OPBS101188 516714.4 7767787.7 451.7 0.5 1.31
OPBS100138 516719.9 7767802.6 452.2 1.1 0.58

Table A17. Golden Hind Longitudinal Samples

Sample ID Easting Northing Elevation Gold (g/t)
OPBS101501 516788.8 7766911.7 452.7 99.9

Table A18. Golden Hind Channel Samples

Sample ID Easting Northing Elevation Width Gold (g/t)
OPBS100096 516783.6 7766921.9 453.3 0.5 331.00
OPBS100573 516784.4 7766924.0 452.9 1.0 236.00
OPBS100097 516784.0 7766922.1 453.2 0.5 204.00
OPBS100588 516785.2 7766918.6 452.7 0.8 160.00
OPBS100605 516786.7 7766914.0 452.7 0.7 107.00
OPBS100607 516787.2 7766914.3 452.7 0.5 61.00
OPBS100403 516766.7 7766953.8 453.0 0.6 38.70
OPBS100418 516768.4 7766949.6 453.1 0.4 31.00
OPBS100818 516764.2 7766956.8 452.9 1.0 28.60
OPBS100402 516767.4 7766954.3 453.1 1.4 27.90
OPBS100548 516778.8 7766926.2 452.9 0.9 27.20
OPBS100078 516775.8 7766930.5 453.7 0.6 19.80
OPBS100571 516783.4 7766923.4 452.9 0.4 19.65
OPBS100534 516776.4 7766930.8 453.0 0.6 18.85
OPBS100485 516772.7 7766940.1 453.2 0.9 18.55
OPBS100589 516785.8 7766918.9 452.7 0.5 12.60
OPBS100547 516778.3 7766925.9 452.9 0.4 11.05
OPBS100100 516786.1 7766923.0 453.3 1.0 10.80
OPBS100095 516783.1 7766921.7 453.3 0.5 9.69
OPBS100468 516770.8 7766945.0 453.0 0.8 8.09
OPBS100620 516788.5 7766908.9 452.9 0.9 7.81
OPBS100569 516782.2 7766922.8 452.8 0.8 7.60
OPBS100469 516770.2 7766944.7 453.0 0.5 7.04
OPBS100533 516775.6 7766930.3 453.0 1.1 6.74
OPBS100484 516773.5 7766940.6 453.2 0.9 6.04
OPBS100531 516774.1 7766929.5 453.0 0.8 5.58
OPBS100609 516787.7 7766914.6 452.7 0.8 5.11
OPBS100473 516769.5 7766944.3 453.0 0.8 4.99
OPBS100079 516776.2 7766930.8 453.7 0.5 4.83
OPBS100551 516779.6 7766926.7 453.0 0.9 4.75
OPBS100499 516772.6 7766934.2 453.1 0.8 4.18
OPBS100591 516786.3 7766919.1 452.8 0.6 4.13
OPBS100819 516765.1 7766957.3 452.9 1.0 3.43
OPBS100572 516783.8 7766923.6 452.9 0.4 3.33
OPBS100077 516775.2 7766930.4 453.7 0.7 3.25
OPBS100498 516773.5 7766934.8 453.1 1.2 2.94
OPBS100098 516784.5 7766922.3 453.2 0.5 2.88
OPBS100631 516788.6 7766903.3 452.7 2.2 2.42
OPBS100495 516776.2 7766936.5 453.1 1.0 2.18
OPBS100080 516776.7 7766931.1 453.6 0.5 2.17
OPBS100419 516767.6 7766949.1 453.1 1.3 2.14
OPBS100496 516775.3 7766935.9 453.1 1.0 2.12
OPBS100486 516771.9 7766939.7 453.1 1.0 2.05
OPBS100570 516782.9 7766923.2 452.9 0.8 1.73
OPBS100587 516784.5 7766918.2 452.7 0.7 1.07
OPBS100532 516774.8 7766929.8 453.0 0.8 1.05
OPBS100546 516777.9 7766925.8 452.9 0.4 0.89
OPBS100497 516774.5 7766935.4 453.1 0.9 0.88
OPBS100610 516788.4 7766914.9 452.8 0.6 0.72
OPBS100117 516763.8 7766957.6 452.9 1.0 0.59
OPBS100118 516764.7 7766958.2 452.9 1.0 0.53
OPBS100621 516789.1 7766909.2 452.8 0.4 0.48
OPBS100099 516785.2 7766922.6 453.3 1.0 0.39
OPBS100130 516767.1 7766954.4 453.0 1.0 0.38
OPBS100552 516780.2 7766927.0 453.0 0.5 0.34
OPBS100129 516766.2 7766953.9 453.0 1.0 0.07
Sample Fire assay(g/t gold) Leach‐Well(g/t gold) Difference (LW‐FA) (g/t gold) Percentage Change
X229296 0.86 3.27 2.41 280.23%
T09556 1.24 0.01 ‐1.23 ‐99.19%
T09649 1.9 3.07 1.17 61.58%
OPBS100843 11.3 8.77 ‐2.53 ‐22.39%
X229275 12.75 9.79 ‐2.96 ‐23.22%
OPBS100485 13.1 18.55 5.45 41.60%
X229643 16.3 19.2 2.9 17.79%
X229845 16.6 12.55 ‐4.05 ‐24.40%
OPBS100093 17.4 25 7.6 43.68%
OPBS100347 34.8 24.1 ‐10.7 ‐30.75%
X229450 41 33.3 ‐7.7 ‐18.78%
OPBS100706 41.2 22.6 ‐18.6 ‐45.15%
X229315 42.2 50.6 8.4 19.91%
X229721 46.7 11.65 ‐35.05 ‐75.05%
T09464 54 55.9 1.9 3.52%
OPBS100418 56.1 31 ‐25.1 ‐44.74%
X219764 71.8 88.8 17 23.68%
X229783 85.3 95.1 9.8 11.49%
OPBS100702 86.6 112.5 25.9 29.91%
X219724 99.6 128 28.4 28.51%
OPBS101090 105 139.5 34.5 32.86%
X229240 106 92.1 ‐13.9 ‐13.11%
OPBS100877 115 117.5 2.5 2.17%
X219789 138 194.5 56.5 40.94%
OPBS101111 143 133 ‐10 ‐6.99%
OPBS101041 146 177 31 21.23%
OPBS101062 162 187.5 25.5 15.74%
X229252 166 300* 134 80.72%
X229413 177 216 39 22.03%
OPBS100691 210 242 32 15.24%
X229218 211 300* 89 42.18%
X229489 218 134.5 ‐83.5 ‐38.30%
OPBS101295 241 300* 59 24.48%
X229212 260 296 36 13.85%
OPBS101204 275 293 18 6.55%
SUM 3424 3876 453 13.22%
AVERAGE 98 111 13 13.27%
Samples >80g/t
SUM 2944 3458 514 17.45%
AVERAGE 163 192 29 17.79%

APPENDIX 3 COMPARISON OF FIRE ASSAY METHODS WITH LEACH-WELL METHODS.

Samples assayed by ALS Global in Perth, Western Australia. Fire assay using AA‐26 and 24D methods and Leach‐Well GEOCN‐06 on 500g sample with accelerated cyanide digestion and AA‐25 finish. *upper limit for leach‐well analysis is 300g/t gold.