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PRODIGY GOLD NL — Capital/Financing Update 2019
Nov 21, 2019
65615_rns_2019-11-21_c389eec6-cd10-48c3-8ae6-1e79bb98da52.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT / MEDIA RELEASE ASX: PRX
22nd November 2019
Exploration Update on 100% owned Gold Projects: Systematic Drill Programs Advanced at Hyperion and Bluebush
HIGHLIGHTS
Hyperion Project (100% PRX)
- Two diamond holes completed at Hyperion following up broad RC intersections
- Both holes intersected substantial intervals of the target structure detailed geological logging of the core is underway;
- HYDD100054 78m of veining and sulphide within a 120m interval of core
- SJRC0058 30m interval of quartz veining and sulphides
- Drilling aiming to grow current Indicated and Inferred Resource of 4.93Mt at 1.95g/t Au for 310koz and to progress discovery of new standalone projects
Bluebush Project (100% PRX)
- Total of 12 holes testing 1,000m of strike drilled at Capstan Prospect with results including;
- 2m @ 1.2g/t Au from 122m (BLRC028)
- 2m @ 0.7g/t Au from 152m (BLRC038)
Lake Mackay Joint Venture Project (IGO 70% / PRX: 30%)
Results of RC drilling at the Arcee Prospect at Lake Mackay are expected by mid-December
Prodigy Gold NL (ASX: PRX) ('Prodigy Gold' or the 'Company') is pleased to advise that follow-up diamond drilling has been completed at the Company's 100%-owned Hyperion Project in the Tanami Region of the Northern Territory.
In addition, results have also been returned from RC drilling recently completed at the Capstan Prospect located within Bluebush. The recent drilling programs at both Hyperion and Bluebush form an important part of Prodigy's broader exploration strategy designed to systematically screen the Company's 100%-owned portfolio for gold deposits analogous to the 14.2Moz Callie Gold Mine.

Figure 1 - DDH1 Diamond rig drilling at the Hyperion Project in November 2019
Management Commentary
Prodigy Gold Managing Director, Matt Briggs, said; "Drilling has been completed to test a broad structure near our existing gold resource within Hyperion, led by a single diamond hole co-funded by the Northern Territory government as part of the Resourcing the Territory initiative. Our team made full use of the rig whilst it was available on site and a diamond tail was opportunistically completed on an adjacent hole. I am pleased to report that both holes have intersected substantial intervals of the target structure with multiple generations of veining and sulphide as seen in three holes completed in 2018. The 2018 RC holes intersected 40-80m wide intervals of gold mineralisation (Figure 3)."
"We have also received the results from recently completed RC drilling at the Capstan Prospect, and although the early indications are that the potential scale of the mineralisation may be reduced, we are focused on following up some encouraging areas of mineralisation recently identified in aircore drilling."
"We are also expecting to receive further information from Lake Mackay with RC drilling results from the newly identified Arcee Prospect due next month along with the outcomes from metallurgical test work completed at Grimlock."
100% owned Hyperion Project Overview
The Hyperion Project islocated 19km to the north of Northern Star's 1.6Moz Groundrush Pit and 58km to the northeast of the Central Tanami Processing Plant site. The area has historically received sporadic shallow drilling. Drilling often ended in the depleted oxide zone testing the area ineffectively. The 100% Prodigy Gold owned Hyperion gold camp currently contains an indicated and inferred resource of 4.93Mt at 1.95g/t Au for 310koz (31st July 2018).
Seuss Prospect Diamond Drilling
Drilling by Prodigy Gold in 2018 identified breccia hosted gold mineralisation associated with the north-south trending Suplejack Fault. This is a new style of mineralisation in the camp and the prospective structure has potential to host significant mineralisation where it obliquely intersects the mafic sediments at Seuss.
A 369.8m NTGS co-funded diamond drill hole HYDD100054 has been completed. This hole was designed to provide structural information to assist in the targeting of gold mineralisation. The drill hole has successfully intersected the target structure with similar veining and alteration (Figure 2) seen in the previous three RC holes (Figure 3). Drilling intersected approximately 78m of veining from within the interval 141-261m. This included 46m of pyrite or pyrite and arsenopyrite from the same interval as the veining. Detailed geological logging of the core is underway.

Figure 2 - Veining, sulphides, and alteration in diamond hole HYDD100054 simliar to that seen in the 2018 RC drilling
A diamond tail has also been completed on RC hole SJRC0058. This tail extends the hole from 156m to 249.2m. The hole previously ended with a 0.7g/t Au sample from within an interval of 89m @ 0.3g/t Au (ASX 20 December 2018). The diamond tail intersection of this hole has intersected an additional 30m of quartz veining and sulphide. Detailed geological logging of the core is underway.

Figure 3 - Hyperion Project geology map with interpreted position of mineralised Suplejack Fault in red outline
Capstan North and Hat RC Drilling
Capstan is a 22km x 8km sub-area of the Bluebush Project, falling within the Trans-Tanami Fault Zone and located 50km northwest of the world-class Callie Gold Mine. Aircore drilling at Capstan defined a large-scale bedrock gold anomaly over an area 8km long with results up to 4g/t Au in samples from aircore drilling (ASX 2 August 2018).
The RC drilling program included 12 holes testing 1,000m of strike. These holes were designed to confirm the interpreted orientation of mineralisation and infill between previous results including 4m @ 6.1g/t Au (RC), 9m @ 1.3g/t Au (RC) (ASX 18 December 2018).
Drilling continued to define the mineralised structures. Sampling at Capstan returned low grade results including 2m @ 1.2g/t Au from 122m (BLRC028) and 1m @ 1.1g/t Au from 102m (BLRC027). While the target structure was intersected (Figure 4), the RC drilling has limited the scale of gold mineralisation in this part of the prospect.
A single RC hole was drilled at the Hat target designed to confirm the westerly dip to the north south striking structure. Sampling of the single RC hole drilled at Hat returned 2m @ 0.7g/t Au from 152m (BLRC038). This hole has confirmed the interpreted steep westerly dip to mineralisation (Figure 7). Future work at Hat is pending the results of gold and aircore drilling expected in the coming weeks.
Future work at the Capstan Prospect will focus on the areas recently tested by aircore drilling at the Hat and Capstan North Targets.

Figure 4 - RC drilling gold results at the Capstan Prospect

Figure 5 - Capstan Prospect oblique cross section 532550mE

Figure 6 - Hat Target geological map with recent RC drill result

Figure 7 - Hat Target cross section 7764300mN

Figure 8 - Capstan Prospect geology map with recent aircore and RC drill hole collars
For further information please contact:
Matt Briggs Managing Director


About Prodigy Gold NL (ASX: PRX)
Prodigy Gold has a unique greenfields and brownfields exploration portfolio in the proven multimillion-ounce Tanami Gold district. The Company is accelerating the discovery of large scale gold deposits through:
- drilling large scale gold targets at the Bluebush Project
- drilling of extensions to the shallow gold Resources at Suplejack
- systematic evaluation of high potential early stage targets
- joint ventures to expedite discovery on other targets and for non-gold commodities
| Hole ID | HoleType | TotalDepth(m) | East1 | North1 | RL | Azimuth | Dip | Prospect |
|---|---|---|---|---|---|---|---|---|
| BLRC032 | RC | 204 | 531758 | 7768068 | 427 | 48 | -59 | Capstan |
| BLRC034 | RC | 222 | 531505 | 7768029 | 428 | 44 | -60 | Capstan |
| BLRC035 | RC | 180 | 531557 | 7768094 | 428 | 44 | -60 | Capstan |
| BLRC030 | RC | 216 | 532048 | 7768120 | 427 | 225 | -60 | Capstan |
| BLRC027 | RC | 126 | 532625 | 7768031 | 426 | 224 | -60 | Capstan |
| BLRC036 | RC | 168 | 531632 | 7768159 | 428 | 229 | -61 | Capstan |
| BLRC028 | RC | 180 | 532544 | 7767941 | 428 | 45 | -59 | Capstan |
| BLRC037 | RC | 186 | 532140 | 7767995 | 427 | 43 | -61 | Capstan |
| BLRC029 | RC | 168 | 532247 | 7768094 | 427 | 223 | -60 | Capstan |
| BLRC038 | RC | 210 | 532621 | 7764294 | 413 | 90 | -60 | Hat |
Appendix 1 – Bluebush Project 2019 RC Drill hole Collar Locations
1 GDA 94 Zone 52
| Appendix 2 - Significant intercepts from the Bluebush Project 2019 RC Drilling Program | ||||
|---|---|---|---|---|
| Hole ID | From(m) | To(m) | IntervalWidth (m) | Grade g/t Au |
|---|---|---|---|---|
| BLRC027 | 102 | 103 | 1 | 1.1 |
| BLRC028 | 122 | 124 | 2 | 1.2 |
| BLRC038 | 152 | 154 | 2 | 0.7 |
Mineralised RC intercepts >0.5g/t Au or where geologically significant
Appendix 3 – Hyperion Project 2019 Diamond Drill hole Collar Locations
| Hole ID | HoleType | TotalDepth(m) | East1 | North1 | RL | Azimuth | Dip |
|---|---|---|---|---|---|---|---|
| HYDD100054 | DD | 369.8 | 641011 | 7836033 | 410 | 37 | -60 |
1 Estimated location in GDA 94 Zone 52
Competent Person's Statement
The information in this announcement relating to exploration targets and exploration results are based on information reviewed and checked by Mr Matt Briggs who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Briggs is a full time employee of Prodigy Gold 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 2012 edition of the "Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves". Mr Briggs consents to the inclusion in the documents of the matters based on this information in the form and context in which it appears.
SECTION 1: SAMPLING TECHNIQUES AND DATA
| Criteria | JORC Code explanation | Commentary | ||
|---|---|---|---|---|
| Sampling techniques | Nature and quality of sampling (e.g. cut channels,random chips, or specific specialised industrystandard measurement tools appropriate to theminerals under investigation, such as down holegamma sondes, or handheld XRF instruments, etc).These examples should not be taken as limiting thebroad meaning of sampling. | Prodigy Gold has used a dedicated reverse circulation (RC) rig.RC drilling techniques are used to obtain 1m samples of theentire downhole length. RC samples are logged geologicallyand all samples submitted for assay. 12 RC holes for 1,860metres were drilled in this reported program at Capstan. | ||
| Include reference to measures taken to ensuresample representivity and the appropriatecalibration of any measurement tools or systemsused | The full length of each hole was sampled. Sampling wascarried out under Prodigy Gold's protocols and QAQCprocedures as per industry best practice. Bag sequence ischecked regularly by field staff and supervising geologistagainst a dedicated sample register. See further detailsbelow. | |||
| Aspects of the determination of mineralisation thatare Material to the Public Report. In cases where'industry standard' work has been done this wouldbe relatively simple (e.g. 'reverse circulation drillingwas used to obtain 1 m samples from which 3 kgwas pulverised to produce a 30 g charge for fireassay'). In other cases more explanation may berequired, such as where there is coarse gold thathas inherent sampling problems. Unusualcommodities or mineralisation types (e.g.submarine nodules) may warrant disclosure ofdetailed information | RC samples were taken using a 10:1 Sandvik static conesplitter mounted under a polyurethane cyclone to obtain 1msamples. Approximately 3kg samples were submitted to thelab. Prodigy Gold samples were submitted to Bureau VeritasAdelaide for crushing and pulverising to produce a 40g chargefor Fire Assay with AAS finish. | |||
| Drilling techniques | Drill type (e.g. core, reverse circulation, open-holehammer, rotary air blast, auger, Bangka, sonic, etc)and details (e.g. core diameter, triple or standardtube, depth of diamond tails, face-sampling bit orother type, whether core is oriented and if so, bywhat method, etc). | Prodigy Gold RC drilling was undertaken by Topdrill with aSchramm 685. This rig has a depth capability ofapproximately 600m, using a 1000psi, 1350cfm Sullaircompressor and auxiliary booster. Holes were drilled with 55/8" diameter bit. | ||
| Drill sample recovery | Method of recording and assessing core and chipsample recoveries and results assessed | All Prodigy Gold RC samples were taken using a 10:1 Sandvikstatic cone splitter mounted under a polyurethane cyclone.Samples were split into calico bags and sent to the lab forassay; with the remainder of sample material remaining onsite. Size of the sample was monitored at the drill site by theresponsible geologist to ensure adequate recovery. | ||
| Measures taken to maximise sample recovery andensure representative nature of the samples | Dust suppression was used to minimise sample loss. Drillingpressure airlifted the water column below the bottom of thesample interval to ensure dry sampling. RC samples arecollected through a cyclone and cone splitter. The samplerequired for assay is collected directly into a calico samplebag at a designed 3kg sample mass which is optimal for fullsample crushing and pulverisation at the assay laboratory.The polyurethane cyclone was emptied after each complete6m drill rod, and cleaned out every 5 rods to minimise anypotential for contamination. | |||
| Whether a relationship exists between samplerecovery and grade and whether sample bias mayhave occurred due to preferential loss/gain offine/coarse material. | No relationship between Prodigy Gold sample recovery andgrade is apparent and sample bias due to preferentialloss/gain of fine/coarse material is unlikely. | |||
| Logging | Whether core and chip samples have beengeologically and geotechnically logged to a level ofdetail to support appropriate Mineral Resourceestimation, mining studies and metallurgicalstudies. | Prodigy Gold drilling samples were geologically logged at thedrill rig by a geologist using paper logging/excel and sections.Data on lithology, weathering, alteration, ore mineralcontent and style of mineralisation, and quartz content andstyle of quartz were collected. | ||
| Whether logging is qualitative or quantitative innature. Core (or costean, channel, etc)photography. | Logging is both qualitative and quantitative. Logging factorssuch as lithology, weathering, colour and alteration arelogged qualitatively. Quartz veining and ore minerals arelogged in a quantitative manner. |
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| The total length and percentage of the relevantintersections logged | All holes were logged in full by Prodigy Gold geologists. | |
| Sub-samplingtechniques andsample preparation | If core, whether cut or sawn and whether quarter,half or all core taken. | No core was collected. |
| If non-core, whether riffled, tube sampled, rotarysplit, etc and whether sampled wet or dry. | 1 metre RC samples were split with a cone splitter mountedunder a polyurethane cyclone. All intervals were sampled dry. | |
| For all sample types, the nature, quality andappropriateness of the sample preparationtechnique. | All samples have been analysed for gold by Bureau Veritas inAdelaide. Samples were dried and the whole samplepulverised to 85% passing 75µm, and a sub sample ofapproximately 200g is retained for Fire Assay which isconsidered appropriate for the material and mineralisationand is industry standard for this type of sample.After receiving the gold assay and interpreting the drill holeswith all available data, specific intervals were selected fordownhole multi-element analysis. Samples were taken atapproximately 1 sample every 10m outside the ore zone and1 sample every 5m within the ore zone. The pulps at the labunderwent mixed acid digest using MA100/1/2. | |
| Quality control procedures adopted for all subsampling stages to maximise representivity ofsamples. | Field duplicates were taken every 40 samples. Standards andblanks were inserted every 20 samples. At the laboratory,regular repeat and Lab Check samples are assayed. | |
| Measures taken to ensure that the sampling isrepresentative of the in situ material collected,including for instance results for fieldduplicate/second-half sampling. | Samples were split using a rig mounted Sandvic static conesplitter, which was checked to be level for each hole. Sampleweights weremonitored to ensure consistent samplecollection. Field duplicates are collected every 40 samples. | |
| Whether sample sizes are appropriate to the grainsize of the material being sampled. | Sample sizes are considered appropriate to give an indicationof mineralisation given the particle size and preference tokeep the sample weight below 4kg to ensure the requisitegrind size in a LM5 sample mill. | |
| Quality of assay dataand laboratory tests | The nature, quality and appropriateness of theassaying and laboratory procedures used andwhether the technique is considered partial ortotal. | Prodigy Gold use a lead collection fire assay, using a 40gsample charge, with an ICP-AAS (atomic absorptionspectroscopy) finish. The lower detection limit for thistechnique is 0.01ppm Au and the upper limit is 1,000ppm Authat is considered appropriate for the material andmineralisation and is industry standard for this type of sampleIn addition to standards and blanks previously discussed,Bureau Veritas conducted internal lab checks usingstandards, blanks. Standards and blanks returned withinacceptable limits, and field duplicates showed goodcorrelation. |
| In addition to gold assaying, ~10% of samples undergo mixedacid digestion where an aliquot of sample is weighed anddigested with a mixture of nitric, perchloric and hydrofluoricacids. This method produces results for 59 elements. | ||
| For geophysical tools, spectrometers, handheld XRFinstruments, etc, the parameters used indetermining the analysis including instrumentmake and model, reading times, calibrations factorsapplied and their derivation, etc. | 4 acid digest data is also used to assist in litho-geochemicaldetermination.A KT-10 magnetic susceptibility meter was used to measurethe magnetic susceptibility of every metre, with readingscollected in SI units (x10-3). | |
| Nature of quality control procedures adopted (e.g.standards, blanks, duplicates, external laboratorychecks) and whether acceptable levels of accuracy(i.e. lack of bias) and precision have beenestablished. | A blank or standard was inserted approximately every 20samples. For drill samples, blank material was supplied by theassaying laboratory. Two certified standards, acquired fromGeoStats Pty. Ltd., with different gold grade and lithologywere also used. QAQC results are reviewed on a batch bybatch basis and at the completion of the program. | |
| Verification ofsampling andassaying | The verification of significant intersections byeither independent or alternative companypersonnel. | Significant intersections were calculated independently byboth the Project Geologist and database administrator. |
| The use of twinned holes. | The drilling being reported is exploratory in nature. As such,none of the holes have been twinned in the current program.Where results warrant, follow-up drilling will be completed. |
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| Documentation of primary data, data entryprocedures, data verification, data storage(physical and electronic) protocols. | Primary data was collected into an Excel spreadsheet and thedrilling data was imported in the Maxwell Data Schema(MDS) version 4.5. The interface to the MDS used is DataShedversion 4.5 and SQL 2008 R2 (the MDS is compatible with SQL2008-2016 – most recent industry versions used). Thisinterface integrates QAQCReporter 2.2 as the assay qualitycontrol software. DataShed is a system that captures dataand metadata from various sources, storing the informationto preserve the value of the data and increasing the valuethrough integration with GIS systems. Security is set throughboth SQL and the DataShed configuration software. Thedatabase is subject to a robust database backup/recoveryplan procedure.Prodigy Gold has one sole Database Administrator. Access tothe database by the geoscience staff is controlled throughsecurity groups where they can export and import data withthe interface providing full audit trails. Assay data is providedin a CSV (text file) in MaxGeo format from the laboratoriesand imported by the Database Administrator. The databaseassay management system records all metadata within theMDS and this interface provides full audit trails to meetindustry best practice. | |
| Discuss any adjustment to assay data. | No transformations or alterations are made to assay datastored in the database. The lab's primary Au field is the oneused for plotting and Resource purposes. No averaging isemployed. | |
| Location of datapoints | Accuracy and quality of surveys used to locate drillholes (collar and down-hole surveys), trenches,mine workings and other locations used in MineralResource estimation. | Hole collars were surveyed with a handheld GPS pre- and postdrilling. Handheld GPS reading accuracy is improved by thedevice 'waypoint averaging' mode, which takes continuousreadings of up to 5 minutes and improves accuracy. Downhole surveys that recorded dip and azimuth have beencompleted in all drill holes using a downhole Reflex gyro tool.Surveys are taken every 18m both downhole and uphole atthe completion of drilling. |
| Specification of the grid system used. | The grid system used is MGA_GDA94, Zone 52. | |
| Quality and adequacy of topographic control. | For holes surveyed by handheld GPS. The RL has been updatedbased off the 15m SRTM data and recorded in the database. | |
| Data spacing anddistribution | Data spacing for reporting of Exploration Results. | At Capstan variable drill hole spacings were used toadequately test targets and were determined from AC drillingresults, geochemical, geophysical and geological data. Drilltraverses are spaced approximately 200m apart with holesapproximately 80m on section. |
| Whether the data spacing and distribution issufficient to establish the degree of geological andgrade continuity appropriate for the MineralResource and Ore Reserve estimation procedure(s)and classifications applied. | The drilling subject to this announcement has not been usedto prepare Mineral Resource Estimates. | |
| Whether sample compositing has been applied. | No sample compositing is applied. | |
| Orientation of data inrelation to geologicalstructure | Whether the orientation of sampling achievesunbiased sampling of possible structures and theextent to which this is known, considering thedeposit type. | At Capstan the orientation of mineralisation is unknown andno orientation based sampling bias is known at this time. |
| If the relationship between the drilling orientationand the orientation of key mineralised structures isconsidered to have introduced a sampling bias, thisshould be assessed and reported if material. | No orientation based sampling bias has been identified in thisdata. | |
| Sample security | The measures taken to ensure sample security. | Samples were transported from the rig to the field camp byProdigy Gold personnel, where they were loaded onto a TollExpress truck and taken to Bureau Veritas Laboratoriessecure preparation facility in Adelaide. Prodigy Goldpersonnel have no contact with the samples once they havebeen picked up for transport. Tracking sheets have been setup to track the progress of the samples. The preparationfacilities use the laboratory's standard chain of custodyprocedure. |
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| Audits or reviews | The results of any audits or reviews of samplingtechniques and data. | Prodigy Gold conducted a Lab Visit to Bureau Veritaslaboratory facilities in Adelaide in August 2017 and found nofaults. QA/QC review of laboratory results shows that ProdigyGold sampling protocols and procedures were generallyeffective. |
SECTION 2: REPORTING OF EXPLORATION RESULTS
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| Mineral tenementand land tenurestatus | Type, reference name/number, location andownership including agreements or material issueswith third parties such as joint ventures,partnerships, overriding royalties, native titleinterests, historical sites, wilderness or nationalpark and environmental settings. | The Capstan Prospect covers EL 31291 and is located in theNorthern Territory. The tenement is wholly owned by ProdigyGold, and subject to the 'Tanami A' agreement betweenProdigy Gold and the Traditional Owners via Central LandCouncil (CLC). |
| The security of the tenure held at the time ofreporting along with any known impediments toobtaining a licence to operate in the area. | The tenement is in good standing with the NT DPIR. | |
| Exploration done byother parties | Acknowledgment and appraisal of exploration byother parties. | The Capstan target area was first recognised in this district bysurface geochemistry and shallow lines of RAB drilling in thelate 1990s by Otter Gold NL. North Flinders, Normandy NFMand Newmont Asia Pacific subsequently all conductedexploratory work on the project with the last recorded drilling(prior to Prodigy Gold) completed in 2007. Previousexploration work provided the foundation on which ProdigyGold based its exploration strategy. |
| Geology | Deposit type, geological setting and style ofmineralisation. | Geology at the Capstan Prospect consists of a NW plungingantiform of Dead Bullock Formation with Killi Killi sedimentstowards the north and west. Structural complexity is evidentfrom tightly folded outcropping chert beds.The wider Capstan Prospect geology is a N-S trending block ofDead Bullock Formation bounded by two NW-trendingTanami Faults. Two granites intrude into the stratigraphy.The mineralisation style is currently unknown but isanticipated to be similar in style to the Callie Deposit 75km tothe east. |
| Drill hole Information | A summary of all information material to theunderstanding of the exploration results includinga tabulation of the following information for allMaterial drill holes:easting and northing of the drill hole collarelevation or RL (Reduced Level – elevation abovesea level in metres) of the drill hole collardip and azimuth of the holedown hole length and interception depthhole length. | Summaries of all material drill holes are available within theCompany's ASX releases. |
| If the exclusion of this information is justified onthe basis that the information is not Material andthis exclusion does not detract from theunderstanding of the report, the CompetentPerson should clearly explain why this is the case | Not applicable. | |
| Data aggregationmethods | In reporting Exploration Results, weightingaveraging techniques, maximum and/or minimumgrade truncations (e.g. cutting of high grades) andcut-off grades are usually Material and should bestated. | Prodigy Gold does not use weighted averaging techniques orgrade truncations for reporting of exploration results. Allreported assays have been length weighted with a nominal0.5g/t gold lower cut-off with <2m of internal dilution. Noupper cut-offs have been applied. |
| Where aggregate intercepts incorporate shortlengths of high grade results and longer lengths oflow grade results, the procedure used for suchaggregation should be stated and some typicalexamples of such aggregations should be shown indetail. | Summaries of all material drill holes and approach tointersection generation are available within the Company'sASX releases. |
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| The assumptions used for any reporting of metalequivalent values should be clearly stated. | No metal equivalent values are used. | |
| Relationship betweenmineralisation widthsand intercept lengths | These relationships are particularly important inthe reporting of Exploration Results.If the geometry of the mineralisation with respectto the drill hole angle is known, its nature shouldbe reported.If it is not known and only the down hole lengthsare reported, there should be a clear statement tothis effect (e.g. 'down hole length, true width notknown'). | From surface mapping and previous drilling in the district,host lithologies and mineralisation are most commonlysteeply dipping (between 60 and 80 degrees). Wheresufficient outcrop exists to inform planning, drill holes areangled so as to drill as close to perpendicular tomineralisation as possible. Downhole widths, and estimatesof true widths where significantly different, are reported. |
| Diagrams | Appropriate maps and sections (with scales) andtabulations of intercepts should be included forany significant discovery being reported Theseshould include, but not be limited to a plan view ofdrill hole collar locations and appropriate sectionalviews. | Refer to Figures and Tables in the body of the text. |
| Balanced reporting | Where comprehensive reporting of all ExplorationResults is not practicable, representative reportingof both low and high grades and/or widths shouldbe practiced to avoid misleading reporting ofExploration Results. | All exploration results have been reported based on thereporting criteria. |
| Other substantiveexploration data | Other exploration data, if meaningful and material,should be reported including (but not limited to):geological observations; geophysical surveyresults; geochemical survey results; bulk samples –size and method of treatment; metallurgical testresults; bulk density, groundwater, geotechnicaland rock characteristics; potential deleterious orcontaminating substances. | Multi-element geochemistry and spectral logging studieshave been completed on the deposit. These are used toinfluence the interpretation of the regolith profile, host rocklithology and gold related alteration. |
| Further work | The nature and scale of planned further work (e.g.tests for lateral extensions or depth extensions orlarge-scale step-out drilling).Diagrams clearly highlighting the areas of possibleextensions, including the main geologicalinterpretations and future drilling areas, providedthis information is not commercially sensitive | Further work at Capstan includes:No work is currently planned for the area of the Capstan RCdrill results. Aircore drilling has been completed with resultspending in areas approximately 3.5km away from theCapstan RC drilling. Future work will depend on the results ofthese aircore holes. |