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RAMELIUS RESOURCES LIMITED Capital/Financing Update 2016
65718_rns_2016-12-18_389c269b-4e5e-4f33-9400-66d0a24c6502.pdf
Capital/Financing Update
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19 December 2016
ISSUED CAPITAL
Ordinary Shares: 525M
DIRECTORS
NON-EXECUTIVE CHAIRMAN: Robert Kennedy NON-EXECUTIVE DIRECTORS: Kevin Lines Michael Bohm MANAGING DIRECTOR: Mark Zeptner
www.rameliusresources.com.au [email protected]
RAMELIUS RESOURCES LIMITED
Registered Office
Suite 4, 148 Greenhill Road Parkside, Adelaide South Australia 5063 Tel +61 8 8271 1999 Fax +61 8 8271 1988
Operations Office Level 1, 130 Royal Street East Perth WA 6004 Tel +61 8 9202 1127
19th December 2016
For Immediate Release
Exploration & Resource Development Drilling Update HIGHLIGHTS
MT MAGNET (WA)
Stellar & Stellar West Mineral Resources
Ramelius Resources Limited (ASX:RMS) is pleased to announce that a new mineral resource of 1.27 Mt @ 1.6 g/t for 65,000 ounces of gold has been generated for the Stellar and Stellar West deposits (refer Table 1). These deposits have the potential to add open pit ore feed to the recently announced Milky Way open pit project, located nearby (refer Figure 2).
Morning Star
Infill RC drilling targeting the saddle between the Morning Star and Black Cat South open pits, located 2km south of the processing plant, is underway. Better results received to date include:
- 7m at 5.98 g/t Au from 100m in GXRC1509, incl. 1m at 27.3 g/t Au
- 3m at 7.36 g/t Au from 83m in GXRC1510, incl. 1m at 17.35 g/t Au
- 3m at 9.08 g/t Au from 61m in GXRC1511, incl. 1m at 20.9 g/t Au
Shannon
Four RC holes were drilled at the Shannon deposit, targeting mineralisation below the pit, which is directly south of the Milky Way area. Two holes returned strong gold intersections including:
- 19m at 3.17 g/t Au from 109m in GXRC0515
- 14m at 4.11 g/t Au from 124m in GXRC0516
Zeus Prospect
Exploration drilling adjacent to the Stellar West deposit has delineated significant gold mineralisation along the western flank of the newly named Zeus Porphyry contact (refer Figure 7). A single RC drill hole (GXRC1492) returned a highly encouraging intersection of 8m at 12.20 g/t Au from 65m to end of hole. This intersection appears to correlate with significant Aircore drill results, up to 19m at 1.31 g/t Au from 32m located 140m further north.
Hesperus East Prospect
Broad zones of significant gold mineralisation have been returned from selected RC drilling, located 300m due east of the Hesperus pit (abutting the Galaxy Mine Area), where historical drilling rarely exceeded 40m depth. Better drill results include:
- 20m at 1.23 g/t Au from 31m in GXRC1501
- 16m at 1.32 g/t Au from 105m in GXRC1505
- 20m at 1.34 g/t Au from 44m in GXRC1506
- 12m at 2.44 g/t Au from 26m in GXRC1507
VIVIEN UNDERGROUND MINE (WA)
Underground diamond drilling is in progress at Vivien (refer Figure 1) with 16 holes already completed for 2,521m to the middle of December 2016. Drilling has targeted Inferred Resources to the south of the mine plan (refer Figure 6). Better results received so far include:
- 7m at 23.4 g/t Au from 132m in VVDD1031
- 2m at 43.8 g/t Au from 24m in VVDD1034
- 4m at 11.7 g/t Au from 69m in VVDD1042
TANAMI JOINT VENTURE (NT - RAMELIUS 85%)
Low order gold anomalism has been returned from Ramelius' maiden 800m x 100m spaced Aircore drilling programme at its 85% owned Highland Rocks ELs within the Tanami JV with Tychean Resources (ASX:TYK). Best anomalous gold response returned to date is a 3m composite returning 307ppb Au at the Haggis Prospect (refer Figure 14). Results are still awaited from Ramelius' drilling to the east of this anomaly.
SALE OF KATHLEEN VALLEY PROJECT (WA)
The sale of the Kathleen Valley Project tenements to Liontown Resources Limited's (ASX: LTR) subsidiary LRL (Aust) Pty Ltd was completed on 9 December 2016 with the issue of 25 million fully paid ordinary LTR shares to Ramelius. Ramelius retains 100% rights to all gold won from the tenement package and will be entitled to a $0.50 per tonne production royalty on any rare metal pegmatite hosted ore (including lithium, tantalum and associated metals) mined and milled from the tenements and a royalty of 1% of the gross sales of concentrate produced from rare metal pegmatite hosted ore removed from the tenements.
For further information contact:
Mark Zeptner Duncan Gordon Managing Director Executive Director Ramelius Resources Limited Adelaide Equity Partners Ph: (08) 9202 1127 Ph: +61 404 006 444
ABOUT RAMELIUS
Figure 1: Ramelius' Operations & Development Project Locations
Ramelius owns 100% of the Mt Magnet gold mine and associated processing plant in the Murchison region of Western Australia. The Company is mining underground from the high grade Vivien gold mine, in addition to open pit mining at Mt Magnet and Blackmans, 30km north of Mount Magnet.
Figure 2: Mt Magnet gold camp project locations, with the Boogardie Basin occupying the southwestern quadrant
Figure 3: Mt Magnet gold camp geology showing the Boogardie Basin felsic porphyry rock units
RESOURCE DEVELOPMENT
Stellar & Stellar West Mineral Resources (Mt Magnet)
The Stellar deposit is located 4km south-west of the Checker mill and 800m north-west of Milky Way (refer Figures 2 & 3). The Stellar open pit was mined in the early 1990's and produced a reported 213,000 t @ 2.98 g/t for 20,428 ounces. Stellar West is a new deposit 350m west of the Stellar pit with no prior mining.
Due to its proximity to Milky Way, drilling and modelling has focussed on the Stellar project area over recent months. Encouraging exploration results were first seen at Stellar West in late 2015 to early 2016. Resource infill and extension RC drilling was recently carried out with 8 holes completed at Stellar West and 7 holes at Stellar. Best results from this drilling include; Stellar West; GXRC0501 - 11m @ 1.53 g/t from 87m and GXRC0502 - 13 m @ 8.81 g/t from 63m, Stellar; GXRC0508 - 31m @ 2.19 g/t from 91m and GXRC0509 - 8m @ 3.59 g/t from 127m. Results for all holes drilled are shown in Attachment 1.
Using the new and historic drilling information, new Mineral Resources were generated in November 2016;
| Table 1: Mineral Resources (>0.7g/t) | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Deposit | Category | tonnes | grade | ounces | |||||||||
| Indicated | 637,000 | 1.5 | 32,000 | ||||||||||
| Stellar | Inferred | 124,000 | 1.9 | 7,000 | |||||||||
| Total | 761,000 | 1.6 | 39,000 | ||||||||||
| Indicated | 414,000 | 1.7 | 22,000 | ||||||||||
| Stellar | Inferred | 97,000 | 1.1 | 3,000 | |||||||||
| West | Total | 511,000 | 1.6 | 26,000 | |||||||||
| Indicated | 1,051,000 | 1.6 | 54,000 | ||||||||||
| Total | Inferred | 221,000 | 1.5 | 11,000 | |||||||||
| Total | 1,271,000 | 1.6 | 65,000 |
Note: Figures rounded to nearest 1,000 tonnes, 0.1g/t and 1,000 ounces. Rounding errors may occur.
Mineral Resource Commentary
New RC drilling was conducted targeting felsic porphyry hosted stockwork mineralisation, adjacent to ultramafic contacts. Mineralisation style is similar to the Milky Way deposit. Drill spacing ranges from a 12.5m x 12.5m to a 25m x 25m hole spacing. Drilling used a 5.5" face sampling bit and 1m sample collection via a cone splitter. Drilling data at Stellar is dominantly historic drilling, and includes in-pit RC holes.
Interpretation was carried out on 12.5m spaced sections utilising appropriate geological and weathering interpretations. RC sub-samples were assayed by Fire Assay at a Perth commercial laboratory. Appropriate QAQC samples accompanied primary sample batches. Samples were composited to 1m intervals, top-cut and grade was estimated using an unconstrained ID method and interpreted anisotropic searches. Block size is 5m x 10m x 5m. Resource classification was applied based on drillhole density and interpreted mineralisation continuity. Resources were reported above a 0.7 g/t lower cut-off. Resources have been generated for evaluation by open-pit mining methods and have a maximum depth of 150m (refer Figure 4).
Density values are assumed based on recent Milky Way and established Mt Magnet values. Detailed information is given in Appendix A attached below.
Further Work
Initial evaluation work on the Stellar Mineral Resources shows potential for a viable pit cutback and new open pit on Stellar and Stellar West, respectively. Work underway includes geotechnical diamond drilling, mine design and further economic evaluation.
| 450RL | 40 | N09008 | Noopoe | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SEPSA | Bl09t | R 164 | RCT450 | l Sir | ISHROLLS | ||||||||||||||
| 0.1 | $\hat{P}$ | Sleping | 0.1 | 0.1 | 0.0 | 0.0 | 600 | $\underline{\mathcal{B}}$ | ूकेश | 0.0 | 0.1 | 0.1 | 0.1 | $\frac{0}{2}$ .1 | 0.1 | 0.1 | 0.0 | 0.0 | |
| 0.0 | 0.g | $\rho^{0.0}$ | 0.0 | 0.0 | 0.0 | 8:P | $. | 0.0 | 0.0 | 0.0 | 0.1 | 0.0 | 0.0 | ಳ | Ø.0 | 0.0 | |||
| ø | .O | Bľ | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | v.olarin a | ď. | 0.0 | 0.1 | 0.3 | 0.1 | 0.1 | 0.1 | 0.1 | D₽ | ||
| 侦 | 0.1 | ũ巾 | 0.1 | 0.1 | 0.0 | 얒40.0 | 0 | ゴだ | 0.4 | bз | ЭŃ | 0.3 | 0.3 | 0.2 | H. 3 | 0.3 | 0.0 | ||
| 0.3 | 0.2 | G!2 | 0.3 | 0.3 | 0.3 | $\frac{2}{0}$ | 86,4 | 0.4 | ð.2 | 0.3 | 0.3 | 0.0 | úÓ | 0.2 | 0.2 | 0.0 | |||
| 0.3 | oJ | ľ0.4 | 0.4 | 0.4 | 0.2 | $\frac{U_{1}}{0.2}$Ť | 0.2 | 0.2 | $Q_{1,2}$ | 0.2 | 0.1 | 0.1 | Ô. | 0.0 | 0.3 | 0.3 | प् रक्ष र | ||
| 0.4 | ŀ0.5 | 0.5 | 0.5 | 0.2 | 0.2 | n | 0.3 | З | 0.1 | 0.1 | 0.1 | O, | 0.1 | 0.2 | 0.2 | ||||
| 0.4 | 0.6 | 0.6 | 0.5 | 0.3 | 0.3 | зŭ | ο., | 0.4 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.40 | ||||
| 4 00A ı | 0.5 | 0.5 | 0.4 | 0.3 | 0. | b0.6 | 1.4 | 0.1 | 0.1 | 26.4 | 0.1 | 0.1 | 0.1 | Ū | ë2 | ||||
| 0.7 | 0.5 | 0,8 | 61 | 0.1 | 0.3 | 1.02m | 8 | 1.8 | 0.3 | 0.0 | 0.1 | 0.1 | 0.0 | 0.2 | |||||
| 0.6 | 0.6 | 66 | 0.2 | 0.2 | O, | 2B | 2.1 | Ýô | 3.1 | 3.1 | 0.9 | 0.1 | 0.1 | 0.0 | 0.0 | 0.0 | 0.1 | ||
| 0.6 | SUD0.5 | 0.5 | 0.3 | 0.3 | 0.1 | 780 | 3.7 | 3.7 | Fз | 0.1 | 0.1 | 0.0 | 0.0 | 0.0 | 0.1 | ||||
| 0.7 | 0.5 0 | 0.5 0 | 0.3 | $0.3^\circ$$z_{0_{n}}$ | 56.1 | 0.1 | 3 | 1.6 | 4.4 | 4.4 | 2.3 | 2.3 | 0.1 | 0.1 | 0.0 | 0.0 | 0.0 | 0.0 | |
| 0.8 | 0.4 | 0.4 | 0.4 | 0.4 | 0.1 | $\Rightarrow$0.1 | 0.8 | 0.8 | 4.1 | Žθ | 2.9 | Q.1 | 0.1 | 0.0 | 0 | ΰ.0 | 0.0 | 0.0 | |
| 0.8 | 0.4 | 0.4n. | U.4 | Ψ,410 | U.1 | Φ.120 | 0.7 | 0.7 | 3.54 | 8 | 3.8 | 3.8 | 0.0 | $_{0.0}$ | 0.0 | 0.0 | 0.0 | 0.0 | |
| 0.8 | 0.4 | 0.4 | 0.4 | 0.4 | 0.2 | 0.2 | 0.6 | 0.6 | 6 | 2.6 | 2.5 | 2.5 | 0.1 | 0.1 | 0. | ğ. | 0.0 | 0.0 | 0.0 |
| 0.6 | 0.2 | 0.2 | 0.3 | 0.3 | 0.3 | 0.3 | 0.2 | 04 | 470 | 1.0 | 3.3 | 3.3 | 0.1 | οŊ0.1 | 0.0 | 0.0 | 0.0 | 0.0 | |
| 0.3 | 0.2 | 0.2 | 0.4 | 0.4 | 0.3 | 0.3 | 0.2 | 0.8 | 0.8 | 1.9 | 1.9 | 0.1 | 0.1 | 0.0 | 0.0 | 0.0 | 0.0 | ||
| 350RL | 0.3 | 0.3 | 0.4 | 0.4 | 0.4 | 0.4 | 2 | 0.3 | 0.3 | 0.5 | 0.5 | 0.1 | юW0.1 | 0.1 | 0.0 | 0.0 | 0.0 | ||
| n 4 | n s | n s | n 4 | n 4 | n 4 | n | Ŕ | n 2 | n 2 | 0.7 | n 7 | O.$\overline{1}$ | n n | $\Box$ | n n |
Figure 4: Stellar West cross section 44,950E (local grid) showing drilling and block model
Shannon Deposit
Four resource development RC holes were completed at the Shannon pit targeting the down dip extension of the lode. Shannon is located 700m south-west of Milky Way (refer Figure 2). Mineralisation is hosted within a moderately east dipping shear zone occurring within porphyritic felsic units (refer Figure 5). Two of the holes returned strong intercepts; GXRC0515 – 19m @ 3.17 g/t from 109m and GXRC0516 – 14m @ 4.11 g/t from 124m (true widths approx. 50%). Refer Attachment 1 for intercept details.
Given these encouraging results, further RC drilling, resource modelling and evaluation is planned.
Figure 5: Shannon cross section 6,895,900N
Vivien Underground Drilling
Underground diamond drilling is in progress at Vivien with 16 holes completed for 2,521 to the middle of December 2016. Drilling has targeted Inferred Resources to the south of the mine plan (refer Figure 6). Better results from the Vivien lode include:
- 7m at 23.4 g/t Au from 132m in VVDD1031
- 2m at 43.8 g/t Au from 24m in VVDD1034
- 4m at 11.7 g/t Au from 69m in VVDD1042
True widths are around 70% of intercept widths. See Attachment 2 below for full results.
Figure 6: Vivien underground drillholes (blue - results pending), lode wireframe and mine development
A major update of the Vivien resource model is planned for early 2017 incorporating all new drilling and all underground development sampling information.
AUSTRALIAN EXPLORATION
MT MAGNET GOLD MINE – WA (RAMELIUS 100%)
An aggregate of 5,954m of exploratory RC drilling (GXRC1473 – 1512) has been completed throughout the Boogardie Basin plus at Hesperus East and Morning Star/Black Cat South/Bullocks since October 2016. Further, Ramelius has now completed over 24,000m of Aircore drilling at Mount Magnet since August 2016, where the success of the Aircore drilling can be attributed to delineating new exploration targets at Zeus and Venus as well as helping to delineate the Stellar West deposit.
Aircore drilling and RC drilling will continue at Mount Magnet after a short break for Christmas. Further, in the New Year, diamond drilling will commence to test the Morning Star Deeps underground target (between 980mbs and 1500mbs).
Zeus Prospect
Exploration drilling adjacent to the Stellar West deposit has delineated significant quartz vein hosted gold mineralisation along the western flank of the newly named Zeus Porphyry (refer Figure 7). The abundance of quartz veining can often indicate healing of early (possibly D1 thrust related) gold mineralised structures as predicted in the Stellar open pit. A single RC drill hole (GXRC1492) returned a highly encouraging intersection of 8m at 12.20 g/t Au from 65m to end of hole (refer Figure 8), associated with the abundant quartz veining within altered porphyry on the contact with ultramafics. This intersection correlates well with the significant porphyry hosted Aircore drill results up to 19m at 1.31 g/t Au from 32m located 140m further north (refer Figure 9). This Zeus Prospect area will become a focus for infill Aircore and deeper RC drill testing in coming months.
Hesperus East Prospect
Broad zones of significant gold mineralisation have been returned from selected RC drilling east of the Hesperus pit (refer Figure 10). Historical vacuum drilling rarely exceeded 40m depth in this location. Given the appreciation for significant surface depletion throughout the Mt Magnet gold camp this area was highlighted for deeper RC drilling. The deeper RC holes have shown good dip continuity of mineralised intersections. Gold mineralisation is associated with a series of north-northwest striking felsic porphyry rocks intruding into the mafic/ultramafic stratigraphy (refer Figure 11). They are disrupted by the north-easterly trending Boogardie Breaks. Better porphyry hosted drill results occur where the Boogardie Breaks intersect the porphyry units, and include:
- 20m at 1.23 g/t Au from 31m in GXRC1501
- 16m at 1.32 g/t Au from 105m in GXRC1505
- 20m at 1.34 g/t Au from 44m in GXRC1506 and
- 12m at 2.44 g/t Au from 26m in GXRC1507
Additional RC drilling will be completed in the New Year to determine if better north-east trending strike continuity (as in the Hesperus pit) can be achieved.
Morning Star / Black Cat South Open Pits
Infill RC drilling is currently targeting the saddle between the Morning Star pit and the Black Cat South pit located 2km south of the Checker Processing Plant (refer Figure 12). RC drilling is ongoing here and immediately below the Black Cat South open pit, testing the historically mined chert/banded iron hosted mineralisation as well as quartz veins in mafic volcaniclastics and mineralised porphyry lenses. Better results received to date include:
- 7m at 5.98 g/t Au from 100m in GXRC1509, incl 1m at 27.3 g/t Au
- 3m at 7.36 g/t Au from 83m in GXRC1510, incl 1m at 17.35 g/t Au
- 3m at 9.08 g/t Au from 61m in GXRC1511, incl 1m at 20.9 g/t Au
Morning Star Deeps
Deep exploratory navigational diamond drilling is scheduled to commence at the Morning Star Deeps early in the New Year (subject to final rig availability), with the aim of delineating resource extensions below the current limit of underground mining (980mbs) down to approximately 1,500mbs. Initially the drilling will target the interpreted high grade keel of the Morning Star deposit where previous deep diamond drilling confirmed the depth continuity of the high grade gold mineralisation. Better historical (Hill 50 Gold NL - circa 1992) diamond drill results, from the deepest hole, include:
- 16m at 9.05 g/t Au
- 11.6m at 9.99 g/t Au and
- 8m at 10.20 g/t Au
These high grade gold intersections remain open with depth as depicted in Figure 13.
Bullocks Deposit
Deeper exploratory RC drilling was completed under the Bullocks deposit (JORC 2012 Indicated & Inferred Resource of 242,000 tonnes at 3.20 g/t Au for 25,000 oz Au). Bullocks is located under the Hill 50 Mine Road immediately south of Black Cat South. The drilling confirmed the continuity of a series of high grade pencil shoots associated with sheared felsic porphyry / mafic volcaniclastic contacts intersecting the northeast trending Boogardie Breaks but failed to add significantly to any resource tonnage improvement. Better drill results included 21m at 2.15 g/t Au from 88m in GXRC1479 and 6m at 9.45 g/t Au from 101m in GXRC1482.
It is possible that these intersections may get incorporated into a bigger resource estimate for Morning Star/Black Cat South and Bullocks once the current round of Morning Star / Black Cat South RC drilling is complete.
TANAMI JOINT VENTURE – NT (RAMELIUS 85%)
An aggregate 5,778m of Aircore drilling was recently completed over the Renton and Haggis prospect trends within the northern Highland Rocks ELs since October 2016.
Encouraging low order gold anomalism has been returned to date (significant given the broad 800m x 100m spacing between the drill holes) with the best response of 3m (composite sample) at 307ppb Au from the Haggis Prospect (refer Figure 14). Results remain awaited from the bulk of Ramelius' drilling into the Haggis Prospect trend.
Drilling along strike and under cover (up to 33m deep) to the east of the Renton Prospect proved disappointing. No further drilling is planned here but further investigation will be required around the low order anomalism returned on the western limit of the current drilling coverage; as follow-up to the historical 12m at 184ppb Au and the recent 3m at 83ppb Au anomalous intersections (refer Figure 14).
Complete significant drill hole assay data for all the exploration drill holes completed since October is compiled in Attachments 3 to 5.
YANDAN NORTH – QLD (RAMELIUS 100%)
Final approvals have now been received to allow Ramelius to complete deeper diamond drilling at its Firefly and Near Miss Prospects located 10km north of the historical Yandan gold mine (historical 1990's production @ 350,000oz Au) in northern Queensland, following a successful induced polarisation (IP) survey completed in October 2016 (refer Figure 15).
Figure 7: Overview map of the Boogardie Basin with imaged gold ppm from historical shallow drilling @ 30mbs. Much of the historical shallow drilling (<40m deep) is considered ineffective. This highlights a number of poorly drilled areas targeted for further exploration. The new Zeus Prospect is located in the top left hand corner of this figure. Note the arcuate pattern of the gold mineralisation at Stellar, Stellar West and now Zeus straddling the Zeus Porphyry / ultramafic contact.
Figure 8: Cross section from recent RC drilling through Zeus highlighting significant new primary gold mineralisation below plus 10m of barren transported overburden
Figure 9: Aircore cross section through Zeus (140m north of Figure 8). The broad blanket of anomalous gold along the fresh rock interface near the ultramafic contact is considered highly prospective.
Figure 10: Hesperus East plan view
Figure 11: Hesperus East cross section
Figure 12: Plan view over the Morning Star and Black Cat South pits highlighting Ramelius' drill hole traces, including recent drilling into the saddle between the two pits
Figure 13: Long section A – B' (see Figure 12 for location) through the Morning Star Deeps
Figure 14: Highland Rocks ELs recent Ramelius Aircore drilling and historical Newmont drilling over the Renton and Haggis Prospects, overlain on a 1VD-RTP aeromagnetic data image
Figure 15: Location of the Yandan North and South EPMs, relative to the historical Yandan gold mine in north Queensland
| Hole ID | Easting | Northing | RL | Azi/Dip | F/Depth(m) | From (m) | To (m) | Interval(m) | g/t Au |
|---|---|---|---|---|---|---|---|---|---|
| GXRC0500(Stellar West) | 576423.0 | 6897144.0 | 444.2 | 322/-71 | 109 | 63 | 67 | 4 | 1.40 |
| GXRC0501(Stellar West) | 576468.0 | 6897139.0 | 444.5 | 330/-66 | 133 | 87 | 98 | 11 | 1.53 |
| GXRC0502(Stellar West) | 576472.0 | 6897158.0 | 444.6 | 333/-69 | 100 | 63 | 76 | 13 | 8.81 |
| GXRC0503(Stellar West) | 576480.0 | 6897142.0 | 444.8 | 337/-73 | 145 | 93 | 97 | 4 | 1.18 |
| GXRC0504(Stellar West) | 576498.0 | 6897163.0 | 445.0 | 332/-65 | 103 | 62 | 69 | 7 | 1.02 |
| GXRC0505(Stellar West) | 576522.0 | 6897170.0 | 445.0 | 333/-61 | 97 | 67 | 79 | 12 | 0.98 |
| GXRC0506(Stellar West) | 576542.1 | 6897185.7 | 445.5 | 332/-61 | 73 | 42 | 54 | 12 | 1.21 |
| GXRC0507(Stellar West) | 576550.9 | 6897197.2 | 445.6 | 332/-57 | 43 | 35 | 38 | 3 | 1.22 |
| GXRC0508(Stellar) | 577028.9 | 6897125.7 | 446.1 | 281/-52 | 181 | 91 | 122 | 31 | 2.19 |
Attachment 1: Resource Definition RC Drilling Results, Stellar, Stellar West and Shannon – Mt Magnet, WA
| and | 142 | 153 | 11 | 7.15 | |||||
|---|---|---|---|---|---|---|---|---|---|
| GXRC0509(Stellar) | 577018.4 | 6897115.7 | 446.2 | 268/-59 | 170 | 127 | 135 | 8 | 3.59 |
| GXRC0510(Stellar) | 576868.1 | 6897377.3 | 445.6 | vert. | 14 | 11 | 13 | 2 | 1.03 |
| GXRC0511(Stellar) | 576868.7 | 6897335.4 | 445.0 | 233/-53 | 121 | NSR | |||
| GXRC0512(Stellar) | 576748.8 | 6897288.8 | 445.4 | 107/-54 | 91 | NSR | |||
| GXRC0513(Stellar) | 576747.5 | 6897286.5 | 445.4 | 116/-52 | 85 | NSR | |||
| GXRC0514(Stellar) | 576915.2 | 6897443.7 | 446.0 | 270/-61 | 139 | 77 | 79 | 2 | 1.18 |
| GXRC0515(Shannon) | 577060.2 | 6895830.7 | 438.1 | 332/-53 | 151 | 109 | 128 | 19 | 3.17 |
| GXRC0516(Shannon) | 577063.3 | 6895844.5 | 438.2 | 341/-58 | 175 | 124 | 138 | 14 | 4.11 |
| GXRC0517(Shannon) | 577067.7 | 6895981.9 | 438.7 | 207/-64 | 169 | NSR | |||
| GXRC0518(Shannon) | 577064.4 | 6895987.7 | 438.8 | 211/-57 | 169 | 116 | 121 | 5 | 0.78 |
Intercepts generally > 0.5 g/t, with up to 2m of internal dilution. NSR denotes no significant results. True widths generally 70% of interval width, Shannon holes around 50%. Coordinates are MGA94-Z50.
Attachment 2: Resource Definition Diamond Drilling Results Vivien underground – Agnew, WA
| Hole ID | Easting | Northing | RL | Azi/Dip | F/Depth(m) | From (m) | To (m) | Interval(m) | g/t Au |
|---|---|---|---|---|---|---|---|---|---|
| VVDD1027 | 260898.1 | 6902867.2 | 457.6 | 294 / -56 | 186 | 160.0 | 162.0 | 2.0 | 7.70 |
| VVDD1028 | 260896.5 | 6902864.6 | 457.8 | 274 / -52 | 225 | 176.4 | 177.2 | 0.8 | 6.81 |
| VVDD1029 | 260896.3 | 6902863.5 | 457.8 | 244 / -58 | 180 | NSR | |||
| VVDD1030 | 260896.1 | 6902863.2 | 457.9 | 236 / -48 | 195 | 137.0 | 145.0 | 8.0 | 2.90 |
| VVDD1031 | 260895.5 | 6902862.6 | 458.2 | 226 / -28 | 186 | 132.0 | 139.0 | 7.0 | 23.4 |
| VVDD1032 | 260895.8 | 6902862.5 | 457.7 | 222 / -48 | 222 | NSR | |||
| VVDD1033 | 260915.3 | 6903063.6 | 321.6 | 197 / 9 | 63 | NSR | |||
| VVDD1034 | 260914.5 | 6903065.2 | 322.0 | 232 / 15 | 36 | 24.0 | 26.0 | 2.0 | 43.8 |
| VVDD1035 | 260945.8 | 6903097.8 | 302.6 | 212 / 11 | 66 | 59.0 | 62.0 | 3.0 | 3.51 |
| VVDD1040 | 260945.9 | 6903097.9 | 301.6 | 215 / -14 | 69 | 45.0 | 46.0 | 1.0 | 5.10 |
| VVDD1042 | 260981.5 | 6903066.0 | 284.7 | 322 / -11 | 503 | 69 | 73 | 4 | 11.70 |
| VVDD1043 | 260981.7 | 6903066.4 | 284.2 | 332 / -28 | 102 | 78 | 83 | 5 | 4.60 |
Intercepts generally > 0.5 g/t, or width of lode vein including sub grade material. True width is generally 70% of interval. Coordinates are MGA94-Z51.
Attachment 3: Significant (>0.5 g/t Au) Exploration RC drilling data within Mt Magnet, WA
| Hole Id | Easting | Northing | Az/Dip | RL | F/Depth(m) | From (m) | To (m) | Interval(m) | g/t Au |
|---|---|---|---|---|---|---|---|---|---|
| GXRC1473 | 581016 | 6896258 | 070/-62 | 441 | 181 | 63 | 66 | 3 | 0.81 |
| (Bullocks) | 95 | 101 | 6 | 0.67 | |||||
| GXRC1474 | 580923 | 6896215 | 070/-62 | 439 | 211 | 111 | 112 | 1 | 1.49 |
| (Bullocks) | 140 | 144 | 4 | 0.90 | |||||
| 162 | 163 | 1 | 0.67 | ||||||
| 174 | 177 | 3 | 1.92 | ||||||
| GXRC1475 | 580999 | 6896344 | 080/-50 | 441 | 151 | NSR | |||
| (Bullocks) | |||||||||
| GXRC1476 | 580992 | 6896376 | 070/-59 | 442 | 151 | 36 | 37 | 1 | 0.73 |
| (Bullocks) | 43 | 44 | 1 | 1.72 | |||||
| GXRC1477 | 580924 | 6896352 | 070/-62 | 441 | 151 | 131 | 140 | 9 | 0.54 |
| (Bullocks) |
| GXRC1478 | 580918 | 6896312 | 070/-61 | 440 | 175 | NSR | |||
|---|---|---|---|---|---|---|---|---|---|
| (Bullocks) | |||||||||
| GXRC1479 | 580949 | 6896387 | 070/-60 | 442 | 145 | 42 | 49 | 7 | 0.83 |
| (Bullocks) | 52 | 59 | 7 | 3.07 | |||||
| Incl. | 56 | 57 | 1 | 8.53 | |||||
| 65 | 66 | 1 | 1.35 | ||||||
| 78 | 79 | 1 | 0.92 | ||||||
| 88 | 109 | 21 | 2.15 | ||||||
| Incl. | 92 | 93 | 1 | 8.99 | |||||
| 113 | 117 | 4 | 0.51 | ||||||
| 120 | 121 | 1 | 0.87 | ||||||
| 124 | 125 | 1 | 1.06 | ||||||
| 130 | 134 | 4 | 1.05 | ||||||
| GXRC1480 | 580874 | 6896479 | 070/-60 | 442 | 121 | 68 | 69 | 1 | 0.52 |
| (Bullocks) | 72 | 73 | 1 | 0.65 | |||||
| 79 | 80 | 1 | 1.12 | ||||||
| 103 | 106 | 3 | 5.66 | ||||||
| Incl. | 104 | 105 | 1 | 13.55 | |||||
| GXRC1481 | 580829 | 6896511 | 070/-60 | 442 | 145 | 18 | 27 | 9 | 1.84 |
| (Bullocks) | Incl. | 22 | 23 | 1 | 8.82 | ||||
| 39 | 42 | 3 | 0.87 | ||||||
| 88 | 92 | 4 | 0.94 | ||||||
| 95 | 98 | 3 | 0.81 | ||||||
| 136 | 137 | 1 | 0.50 | ||||||
| GXRC1482 | 580806 | 6896524 | 070/-60 | 442 | 151 | 6 | 7 | 1 | 0.51 |
| (Bullocks) | 10 | 12 | 2 | 5.01 | |||||
| Incl. | 10 | 11 | 1 | 9.49 | |||||
| 18 | 20 | 2 | 1.11 | ||||||
| 26 | 27 | 1 | 0.56 | ||||||
| 48 | 49 | 1 | 0.59 | ||||||
| 79 | 80 | 1 | 5.22 | ||||||
| 85 | 87 | 2 | 0.63 | ||||||
| 101 | 107 | 6 | 9.45 | ||||||
| Incl. | 101 | 102 | 1 | 42.7 | |||||
| 128 | 134 | 6 | 0.42 | ||||||
| GXRC1483 | 580784 | 6896548 | 070/-60 | 442 | 163 | 36 | 37 | 1 | 0.55 |
| (Bullocks) | 41 | 42 | 1 | 0.52 | |||||
| 46 | 53 | 7 | 1.86 | ||||||
| 57 | 58 | 1 | 1.10 | ||||||
| 67 | 69 | 2 | 10.1 | ||||||
| Incl. | 67 | 68 | 1 | 18.6 | |||||
| 102 | 103 | 1 | 1.51 | ||||||
| 113 | 114 | 1 | 1.52 | ||||||
| 132 | 133 | 1 | 0.74 | ||||||
| 141 | 142 | 1 | 1.97 | ||||||
| GXRC1484 | 580771 | 6896600 | 070/-55 | 442 | 175 | 21 | 22 | 1 | 0.68 |
| (Bullocks) | 44 | 50 | 6 | 0.58 | |||||
| 56 | 59 | 3 | 0.91 | ||||||
| 114 | 115 | 1 | 0.72 | ||||||
| 122 | 123 | 1 | 0.54 | ||||||
| 157 | 160 | 3 | 1.07 | ||||||
| 166 | 167 | 1 | 0.53 | ||||||
| GXRC1485 | 580710 | 6896577 | 070/-60 | 442 | 151 | 6 | 7 | 1 | 2.01 |
| (Bullocks) | 89 | 90 | 1 | 1.07 | |||||
| 129 | 136 | 7 | 0.64 | ||||||
| 139 | 142 | 3 | 4.16 | ||||||
| Incl. | 139 | 140 | 1 | 11.6 | |||||
| GXRC1486 | 580879 | 6896638 | 070/-60 | 444 | 121 | 32 | 33 | 1 | 0.50 |
| (Bullocks) | 39 | 45 | 6 | 0.67 | |||||
| 74 | 77 | 3 | 0.97 | ||||||
| 87 | 94 | 7 | 1.01 | ||||||
| GXRC1487 | 580798 | 6896480 | 070/-60 | 441 | 133 | 16 | 18 | 2 | 1.12 |
| (Bullocks) | 62 | 63 | 1 | 1.46 | |||||
| 71 | 72 | 1 | 6.83 | ||||||
| 93 | 94 | 1 | 0.76 | ||||||
| 101 | 104 | 3 | 2.09 | ||||||
| GXRC1488 | 576379 | 6897385 | 270/-60 | 447 | 133 | 68 | 70 | 2 | 0.83 |
| (Stellar W./Zeus) | 96 | 98 | 2 | 1.09 | |||||
| GXRC1489 | 576385 | 6897305 | 270/-60 | 446 | 121 | 39 | 40 | 1 | 2.75 |
|---|---|---|---|---|---|---|---|---|---|
| (Stellar W./Zeus) | 43 | 44 | 1 | 0.81 | |||||
| 48 | 50 | 2 | 1.11 | ||||||
| 54 | 60 | 6 | 0.71 | ||||||
| 66 | 69 | 3 | 0.48 | ||||||
| 82 | 83 | 1 | 0.95 | ||||||
| GXRC1490(Stellar W./Zeus) | 576379 | 6897205 | 270/-60 | 445 | 91 | NSR | |||
| GXRC1491 | 576430 | 6897206 | 270/-60 | 445 | 163 | 21 | 22 | 1 | 0.66 |
| (Stellar W./Zeus) | 25 | 26 | 1 | 0.85 | |||||
| 30 | 31 | 1 | 1.61 | ||||||
| 34 | 38 | 4 | 1.67 | ||||||
| 42 | 43 | 1 | 0.96 | ||||||
| 50 | 51 | 1 | 1.15 | ||||||
| 55 | 60 | 5 | 0.50 | ||||||
| 65 | 80 | 15 | 0.63 | ||||||
| 84 | 85 | 1 | 0.84 | ||||||
| 99 | 101 | 2 | 0.70 | ||||||
| 104 | 106 | 2 | 0.86 | ||||||
| 109 | 110 | 1 | 0.51 | ||||||
| 139 | 140 | 1 | 0.99 | ||||||
| 155 | 156 | 1 | 0.65 | ||||||
| GXRC1492 | 576281 | 6897304 | 300/-54 | 443 | 73 | 65 | 73 | 8 | 12.2 |
| (Stellar W./Zeus) | Incl. | 65 | 67 | 2 | 41.0 | ||||
| GXRC1493(Stellar W./Zeus) | 576212 | 6897229 | 300/-60 | 443 | 121 | 101105 | 102107 | 12 | 1.080.87 |
| GXRC1494 | 576149 | 6897149 | 300/-60 | 443 | 133 | 108 | 110 | 2 | 0.63 |
| (Stellar W./Zeus) | 114 | 118 | 4 | 0.53 | |||||
| GXRC1495(Stellar W./Zeus) | 576106 | 6897073 | 300/-60 | 443 | 133 | 74 | 75 | 1 | 1.61 |
| GXRC1496 | 579225 | 6897925 | 250/-55 | 451 | 265 | 28 | 29 | 1 | 0.54 |
| (Hesperus East) | 120 | 121 | 1 | 1.47 | |||||
| 138 | 151 | 13 | 0.60 | ||||||
| 154 | 188 | 34 | 0.96 | ||||||
| 201 | 202 | 1 | 0.56 | ||||||
| 208 | 213 | 5 | 0.49 | ||||||
| 218 | 223 | 5 | 1.21 | ||||||
| 226 | 227 | 1 | 0.92 | ||||||
| 231 | 233 | 2 | 0.73 | ||||||
| 259 | 262 | 3 | 0.65 | ||||||
| GXRC1497 | 579169 | 6897909 | 250/-55 | 452 | 199 | 0 | 3 | 3 | 1.55 |
| (Hesperus East) | 9 | 14 | 5 | 1.01 | |||||
| 17 | 19 | 2 | 0.90 | ||||||
| 22 | 23 | 1 | 3.39 | ||||||
| 26 | 27 | 1 | 0.95 | ||||||
| 35 | 40 | 5 | 1.72 | ||||||
| 43 | 87 | 44 | 0.79 | ||||||
| 90 | 92 | 2 | 0.75 | ||||||
| 112 | 127 | 15 | 0.75 | ||||||
| 130 | 134 | 4 | 0.52 | ||||||
| 175 | 180 | 5 | 0.49 | ||||||
| 187 | 189 | 2 | 0.56 | ||||||
| 194 | 195 | 1 | 0.60 | ||||||
| GXRC1498 | 579120 | 6897830 | 250/-55 | 453 | 157 | 23 | 25 | 2 | 0.89 |
| (Hesperus East) | 30 | 31 | 1 | 0.79 | |||||
| 45 | 46 | 1 | 1.05 | ||||||
| 53 | 57 | 4 | 0.54 | ||||||
| 111 | 112 | 1 | 0.57 | ||||||
| GXRC1499 | 579278 | 6897813 | 250/-60 | 452 | 157 | 54 | 58 | 4 | 0.54 |
| (Hesperus East) | 66 | 67 | 1 | 0.58 |
| 81 | 82 | 1 | 0.90 | ||||||
|---|---|---|---|---|---|---|---|---|---|
| 87 | 88 | 1 | 0.53 | ||||||
| 93 | 95 | 2 | 2.25 | ||||||
| 130 | 131 | 1 | 1.36 | ||||||
| GXRC1500 | 579352 | 6897840 | 250/-60 | 451 | 121 | 84 | 89 | 5 | 1.56 |
| (Hesperus East) | |||||||||
| GXRC1501 | 579262 | 6897754 | 250/-61 | 452 | 103 | 13 | 20 | 7 | 1.22 |
| (Hesperus East) | 26 | 28 | 2 | 0.53 | |||||
| 31 | 51 | 20 | 1.23 | ||||||
| 97 | 102 | 5 | 1.19 | ||||||
| GXRC1502 | 579309 | 6897769 | 250/-55 | 452 | 181 | 41 | 46 | 5 | 1.82 |
| (Hesperus East) | 55 | 56 | 1 | 0.64 | |||||
| 85 | 89 | 4 | 0.58 | ||||||
| GXRC1503 | 579429 | 6897761 | 250/-60 | 451 | 121 | 107 | 109 | 2 | 0.61 |
| (Hesperus East) | |||||||||
| GXRC1504 | 579504 | 6897790 | 250/-61 | 451 | 121 | 77 | 78 | 1 | 0.54 |
| (Hesperus East) | 90 | 94 | 4 | 0.54 | |||||
| 97 | 98 | 1 | 1.60 | ||||||
| 101 | 102 | 1 | 0.88 | ||||||
| 105 | 106 | 1 | 0.50 | ||||||
| GXRC1505 | 579539 | 6897750 | 250/-56 | 451 | 147 | 46 | 47 | 1 | 0.58 |
| (Hesperus East) | 68 | 69 | 1 | 0.58 | |||||
| 94 | 95 | 1 | 0.58 | ||||||
| 101 | 102 | 1 | 0.51 | ||||||
| 105 | 121 | 16 | 1.32 | ||||||
| 127 | 129 | 2 | 1.29 | ||||||
| 134 | 141 | 7 | 0.53 | ||||||
| GXRC1506 | 579450 | 6897716 | 250/-60 | 451 | 121 | 0 | 2 | 2 | 1.53 |
| (Hesperus East) | 44 | 64 | 20 | 1.34 | |||||
| 99 | 102 | 3 | 0.76 | ||||||
| GXRC1507 | 579545 | 6897670 | 250/-60 | 451 | 169 | 26 | 38 | 12 | 2.44 |
| (Hesperus East) | 47 | 53 | 6 | 0.79 | |||||
| 78 | 79 | 1 | 0.67 | ||||||
| 84 | 86 | 2 | 0.56 | ||||||
| 94 | 96 | 2 | 1.48 | ||||||
| 138 | 139 | 1 | 0.85 | ||||||
| GXRC1508 | 579603 | 6897610 | 250/-60 | 451 | 115 | NSR | |||
| (Hesperus East) | |||||||||
| GXRC1509 | 580731 | 6897022 | 122/-58 | 448 | 120 | 100 | 107 | 7 | 5.98 |
| (MS/BCS) | Incl. | 102 | 103 | 1 | 27.3 | ||||
| GXRC1510 | 580769 | 6897010 | 248/-60 | 448 | 120 | 2 | 5 | 3 | 2.21 |
| (MS/BCS) | 27 | 33 | 6 | 0.57 | |||||
| 57 | 62 | 5 | 2.56 | ||||||
| 66 | 73 | 7 | 0.83 | ||||||
| 83 | 86 | 3 | 7.36 | ||||||
| Incl. | 83 | 84 | 1 | 17.35 | |||||
| 102 | 103 | 1 | 1.46 | ||||||
| GXRC1511 | 580754 | 6896984 | 250/-63 | 447 | 84 | 22 | 23 | 1 | 1.03 |
| (MS/BCS) | 31 | 34 | 3 | 0.50 | |||||
| 42 | 45 | 3 | 2.24 | ||||||
| 61 | 64 | 3 | 9.08 | ||||||
| Incl. | 61 | 62 | 1 | 20.9 | |||||
| GXRC1512 | 580688 | 6896920 | 080/-61 | 445 | 360 | 165 | 169 | 4 | 4.46 |
| (MS/BCS) |
Reported significant gold assay intersections (using a 0.5 g/t Au lower cut) are reported using 1m downhole intervals at plus 0.5 g/t gold, with up to 2m of internal dilution. Gold determination was by Fire Assay using a 50gm charge with AAS finishes and a lower limit of detection of 0.01 ppm Au. NSR denotes no significant results. True widths of the reported downhole intersections are estimated to be 65% of the reported downhole intersections. Coordinates are MGA94-Z50. Location of holes are annotated in the table. MS/BCS refers to Morning Star / Black Cat South saddle
Attachment 4: Anomalous Exploration Aircore drilling 4m composite intersections (>0.40 g/t Au over 4m or greater) within the Boogardie Basin - Mt Magnet, WA.
| Hole Id | Easting | Northing | Az/Dip | RL | F/Depth(m) | From (m) | To (m) | Interval(m) | g/t Au |
|---|---|---|---|---|---|---|---|---|---|
| GXAC0329 | 576676 | 6897882 | 270/-60 | 448 | 31 | 24 | 28 | 4 | 0.85 |
| GXAC0339 | 576122 | 6897434 | 270/-60 | 445 | 55 | 32 | 55 | 23 | 0.44 |
| Incl. | 36 | 40 | 4 | 0.53 | |||||
| GXAC0340 | 576177 | 6897433 | 270/-60 | 445 | +52 | 4840 | 5552 | 712 | 0.770.43 |
| Incl. | 44 | 51 | 7 | 0.66 | |||||
| GXAC0341 | 576231 | 6897435 | 270/-60 | 445 | 52 | 32 | 51 | 19 | 1.31 |
| Incl. | 32 | 36 | 4 | 0.53 | |||||
| GXAC0344 | 576384 | 6897433 | 270/-60 | 445 | +70 | 4452 | 5156 | 74 | 3.100.48 |
| GXAC0346 | 576479 | 6897433 | 270/-60 | 445 | 37 | 32 | 36 | 4 | 0.40 |
| GXAC0362 | 577125 | 6896354 | 270/-60 | 445 | 57 | 52 | 56 | 4 | 0.49 |
| GXAC0364 | 577219 | 6896607 | 270/-60 | 445 | 58 | 32 | 57 | 25 | 0.49 |
| GXAC0366 | 577322 | 6896599 | 270/-60 | 445 | 58 | 40 | 48 | 8 | 0.78 |
| GXAC0380 | 579337 | 6895500 | 270/-60 | 435 | 49 | 0 | 4 | 4 | 0.41 |
| GXAC0381 | 579390 | 6895504 | 270/-60 | 435 | 61 | 48 | 52 | 4 | 0.43 |
| GXAC0384 | 579596 | 6895502 | 270/-60 | 435 | 49 | 28 | 36 | 8 | 1.36 |
| GXAC0387 | 579748 | 6895502 | 270/-60 | 435 | 64 | 44 | 52 | 8 | 0.53 |
| GXAC0388 | 573909 | 6896113 | 330/-60 | 435 | 75 | 60 | 64 | 4 | 0.44 |
| GXAC0416 | 575187 | 6896090 | 330/-60 | 435 | 73 | 68 | 72 | 4 | 0.56 |
| GXAC0422 | 575666 | 6895948 | 270/-60 | 435 | 66 | 36 | 40 | 4 | 0.65 |
| GXAC0425 | 575817 | 6895947 | 270/-60 | 435 | 52 | 32 | 36 | 4 | 0.45 |
| GXAC0431 | 575888 | 6896352 | 270/-60 | 431 | 60 | 40 | 44 | 4 | 0.96 |
| GXAC0444 | 575995 | 6895427 | 270/-60 | 431 | 52 | 36 | 48 | 12 | 0.60 |
| GXAC0451 | 576340 | 6895405 | 270/-60 | 434 | 55 | 24 | 28 | 4 | 4.32 |
| GXAC0469 | 575752 | 6894753 | 360/-60 | 434 | 64 | 40 | 44 | 4 | 0.46 |
| GXAC0473 | 575948 | 6894795 | 360/-60 | 435 | 84 | 36 | 44 | 8 | 1.06 |
| GXAC0489 | 579284 | 6894896 | 270/-60 | 434 | 70 | 28 | 32 | 4 | 0.50 |
| GXAC0490 | 579177 | 6894892 | 270/-60 | 434 | 66 | 0 | 4 | 4 | 0.59 |
| GXAC0499 | 576798 | 6897727 | 360/-60 | 449 | 37 | 32 | 36 | 4 | 0.54 |
| GXAC0500 | 576800 | 6897673 | 360/-60 | 448 | 37 | 20 | 28 | 8 | 0.50 |
| GXAC0501 | 576800 | 6897623 | 360/-60 | 448 | 37 | 28 | 36 | 8 | 0.64 |
| GXAC0505 | 576399 | 6897454 | 360/-60 | 445 | 73 | 56 | 60 | 4 | 0.66 |
| 68 | 72 | 4 | 0.72 | ||||||
| GXAC0508 | 576398 | 6897309 | 360/-60 | 445 | 61 | 52 | 56 | 4 | 0.61 |
| GXAC0510 | 576028 | 6897627 | 270/-60 | 445 | 103 | 68 | 72 | 4 | 0.45 |
| GXAC0512 | 576124 | 6897623 | 270/-60 | 445 | 75 | 12 | 16 | 4 | 0.42 |
| GXAC0514 | 576225 | 6897630 | 270/-60 | 445 | 55 | 36 | 44 | 8 | 0.61 |
| GXAC0515 | 576271 | 6897620 | 270/-60 | 436 | 64 | 44 | 48 | 4 | 0.89 |
| GXAC0519 | 577880 | 6896545 | 360/-60 | 450 | 27 | 12 | 19 | 7 | 0.61 |
| GXAC0520 | 577775 | 6896433 | 360/-60 | 450 | 24 | 0 | 11 | 11 | 0.44 |
| GXAC0531 | 578126 | 6895922 | 270/-60 | 436 | 49 | 44 | 48 | 4 | 0.40 |
| GXAC0534 | 578602 | 6895633 | 270/-60 | 436 | 49 | 4 | 8 | 4 | 1.14 |
|---|---|---|---|---|---|---|---|---|---|
| 20 | 28 | 8 | 0.69 | ||||||
| GXAC0544 | 578403 | 6895525 | 270/-60 | 436 | 61 | 48 | 52 | 4 | 0.59 |
| GXAC0546 | 575520 | 6895645 | 270/-60 | 436 | 67 | 52 | 56 | 4 | 2.08 |
| GXAC0551 | 575780 | 6895641 | 270/-60 | 436 | 67 | 36 | 40 | 4 | 0.63 |
Reported anomalous gold assay intersections are constrained using a 0.40 g/t Au lower cut for the 4m composite interval, with up to 4m of internal dilution. Gold determination was by Fire Assay using a 50gm charge with AAS finishes and a lower limit of detection of 0.01 ppm Au. NSR denotes no significant results. EOH denotes end of hole depth. True widths remain unknown at this stage of exploration. Coordinates are MGA94-Z50.
Attachment 5: Anomalous Exploration Aircore drilling 3m composite intersections (>50 ppb Au over 3m or greater) within the Tanami JV - NT.
| Hole Id | Easting | Northing | Az/Dip | RL | F/Depth(m) | From (m) | To (m) | Interval(m) | ppb Au |
|---|---|---|---|---|---|---|---|---|---|
| HRAC0079 | 566997 | 7670798 | 360/-90 | 389 | 30 | 22 | 25 | 3 | 83 |
| HRAC0090 | 567328 | 7676500 | 360/-90 | 371 | 48 | 1 | 4 | 3 | 60 |
| 10 | 13 | 3 | 307 | ||||||
| HRAC0091 | 567323 | 7676600 | 360/-90 | 372 | 54 | 44 | 47 | 3 | 241 |
| HRAC0093 | 566533 | 7676800 | 360/-90 | 371 | 51 | 45 | 48 | 3 | 70 |
| HRAC0095 | 566530 | 7676501 | 360/-90 | 367 | 50 | 40 | 43 | 3 | 51 |
| HRAC0106 | 566930 | 7676500 | 360/-90 | 370 | 45 | 35 | 41 | 6 | 71 |
Reported anomalous gold assay intersections are constrained using a 50ppb Au lower cut for the 3m composite interval, with up to 3m of internal dilution. Gold determination was by Fire Assay using a 25gm charge with ICP-OES finish and a lower limit of detection of 1 ppb Au. NSR denotes no significant results. EOH denotes end of hole depth. True widths remain unknown at this stage of exploration. Coordinates are MGA94-Z52.
FORWARD LOOKING STATEMENTS
This report contains forward looking statements. The forward looking statements are based on current expectations, estimates, assumptions, forecasts and projections and the industry in which it operates as well as other factors that management believes to be relevant and reasonable in the circumstances at the date such statements are made, but which may prove to be incorrect. The forward looking statements relate to future matters and are subject to various inherent risks and uncertainties. Many known and unknown factors could cause actual events or results to differ materially from the estimated or anticipated events or results expressed or implied by any forward looking statements. Such factors include, among others, changes in market conditions, future prices of gold and exchange rate movements, the actual results of production, development and/or exploration activities, variations in grade or recovery rates, plant and/or equipment failure and the possibility of cost overruns. Neither Ramelius, its related bodies corporate nor any of their directors, officers, employees, agents or contractors makes any representation or warranty (either express or implied) as to the accuracy, correctness, completeness, adequacy, reliability or likelihood of fulfilment of any forward looking statement, or any events or results expressed or implied in any forward looking statement, except to the extent required by law.
COMPETENT PERSONS
The information in this report that relates to Exploration Results, Mineral Resources and Ore Reserves is based on information compiled by Kevin Seymour (Exploration Results) and Rob Hutchison (Mineral Resources), who are Competent Persons and Members of The Australasian Institute of Mining and Metallurgy. Kevin Seymour and Rob Hutchison are full-time employees of the company. Kevin Seymour and Rob Hutchison have sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Kevin Seymour and Rob Hutchison consent to the inclusion in this report of the matters based on their information in the form and context in which it appears.
Appendix A – JORC Table 1 Resource Development Report Stellar & Stellar West Deposits
Section 1 Sampling Techniques and Data
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| Samplingtechniques | Nature and quality of sampling (e.g. cutchannels, random chips, or specificspecialised industry standardmeasurement tools appropriate to theminerals under investigation, such asdown hole gamma sondes, or handheldXRF instruments, etc). These examplesshould not be taken as limiting the broadmeaning of sampling.Include reference to measures taken toensure sample representivity and theappropriate calibration of anymeasurement tools or systems used.Aspects of the determination ofmineralisation that are Material to thePublic Report.In cases where 'industry standard' workhas been done this would be relativelysimple (e.g. 'reverse circulation drillingwas used to obtain 1 m samples fromwhich 3 kg was pulverised to produce a30 g charge for fire assay'). In other casesmore explanation may be required, suchas where there is coarse gold that hasinherent sampling problems. Unusualcommodities or mineralisation types (e.g.submarine nodules) may warrantdisclosure of detailed information. | Sampled by RC drilling with samples collected as 1msamples and sub‐sampled using a riffle or conesplitter to produce ≈3kg sub‐samples. Drillholelocations were designed to cover the spatial extentsof the interpreted mineralisation.Drill hole locations were designed to allow for spatialspread across the interpreted mineralised zone.Standard fire assaying was employed using a 50gmcharge with an AAS finish. |
| Drillingtechniques | Drill type (e.g. core, reverse circulation,open‐hole hammer, rotary air blast,auger, Bangka, sonic, etc) and details(e.g. core diameter, triple or standardtube, depth of diamond tails, face‐sampling bit or other type, whether coreis oriented and if so, by what method,etc). | RC Drilling was completed using best practice 5 ¾"face sampling RC drilling hammersMinor historical RAB & Aircore drilling wascompleted within the upper laterite zone. |
| Drill samplerecovery | Method of recording and assessing coreand chip sample recoveries and resultsassessed.Measures taken to maximise samplerecovery and ensure representativenature of the samples.Whether a relationship exists betweensample recovery and grade and whethersample bias may have occurred due topreferential loss/gain of fine/coarsematerial. | Bulk RC drillholes samples were visually inspected bythe supervising geologist to ensure adequate cleansample recoveries were achieved.Zones of poor sample return are recorded in thedatabase and cross checked once assay results arereceived from the laboratory to ensure nomisrepresentation of sampling intervals hasoccurred. Excellent RC drill recovery is reportedfrom all RC holes.No indication of sample bias is evident or has beenestablished |
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| Logging | Whether core and chip samples havebeen geologically and geotechnicallylogged to a level of detail to supportappropriate Mineral Resource estimation,mining studies and metallurgical studies.Whether logging is qualitative orquantitative in nature. Core (or costean,channel, etc) photography.The total length and percentage of therelevant intersections logged. | All RC drill samples are geologically logged on site byRMS geologists. Details on the host lithologies,deformation, dominant minerals including sulphidespecies and alteration minerals plus veining arerecorded relationally (separately).Drillhole logging of RC chips is qualitative on visualrecordings of rock forming minerals and estimates ofmineral abundance.The entire length of drillholes are geologically logged |
| Sub‐samplingtechniquesand samplepreparation | If core, whether cut or sawn and whetherquarter, half or all core taken.If non‐core, whether riffled, tubesampled, rotary split, etc and whethersampled wet or dry.For all sample types, the nature, qualityand appropriateness of the samplepreparation technique.Quality control procedures adopted for allsub‐sampling stages to maximiserepresentivity of samples.Measures taken to ensure that thesampling is representative of the in situmaterial collected, including for instanceresults for field duplicate/second‐halfsampling.Whether sample sizes are appropriate tothe grain size of the material beingsampled. | Duplicate samples are collected every 25th samplefrom the RC chips.Dry RC 1m samples are riffle split to 3kg as drilledand dispatched to the laboratory. Any wet samplesare recorded in the database as such and allowed todry before splitting and dispatching to thelaboratory.All samples are pulverized prior to splitting in thelaboratory to ensure homogenous samples with 85%passing 75um. 200gm is extracted by spatula that isused for the 50gm charge on standard fire assays.RC samples submitted to the laboratory are sortedand reconciled against the submission documents.In addition to duplicates a high grade or low gradestandard is included every 25th sample, a controlledblank is inserted every 100th sample.The sample size is considered appropriate for thetype, style, thickness and consistency ofmineralization. |
| Quality ofassay data andlaboratorytests | The nature, quality and appropriatenessof the assaying and laboratoryprocedures used and whether thetechnique is considered partial or total.For geophysical tools, spectrometers,handheld XRF instruments, etc, theparameters used in determining theanalysis including instrument make andmodel, reading times, calibrations factorsapplied and their derivation, etc.Nature of quality control proceduresadopted (e.g. standards, blanks,duplicates, external laboratory checks)and whether acceptable levels ofaccuracy (i.e. lack of bias) and precisionhave been established. | The fire assay method is designed to measure thetotal gold in the sample. A standard 50g charge isfired followed by acid digestion and measurementby AAS.No field analyses of gold grades are completed.Quantitative analysis of the gold content and traceelements is undertaken in a controlled laboratoryenvironment.Industry best practice is employed with the inclusionof duplicates and standards as discussed above, andused by Ramelius as well as the laboratory. AllRamelius standards and blanks are interrogated toensure they lie within acceptable tolerances.Additionally, sample size, grind size and fieldduplicates are examined to ensure no bias to goldgrades exists. |
| Verification ofsampling andassaying | The verification of significantintersections by either independent oralternative company personnel.The use of twinned holes.Documentation of primary data, dataentry procedures, data verification, datastorage (physical and electronic)protocols.Discuss any adjustment to assay data. | Alternative Ramelius personnel have inspected theRC chips in the field to verify the correlation ofmineralised zones between assay results andlithology, alteration and mineralization.All holes are digitally logged in the field and allprimary data is forwarded to Ramelius' DatabaseAdministrator (DBA) in Perth where it is importedinto Datashed. Assay data is electronically mergedwhen received from the laboratory. The responsibleproject geologist reviews the data in the database toensure that it is correct and has merged properly |
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| and that all the drill data collected in the field hasbeen captured and entered into the databasecorrectly.The responsible geologist makes the DBA aware ofany errors and/or omissions to the database and thecorrections (if required) are corrected in thedatabase immediately.No adjustments or calibrations are made to anyassay data | ||
| Location ofdata points | Accuracy and quality of surveys used tolocate drill holes (collar and down‐holesurveys), trenches, mine workings andother locations used in Mineral Resourceestimation.Specification of the grid system used.Quality and adequacy of topographiccontrol. | Hole collars are picked up using accurate DGPSsurvey control. All down hole surveys are collectedusing downhole electronic single shot or gyrosurveying techniques provided by the drillingcontractors.All holes are picked up in MGA94 – Zone 50 gridcoordinates.Topographic control is established from DTM surveycontrol bases |
| Data spacinganddistribution | Data spacing for reporting of ExplorationResults.Whether the data spacing anddistribution is sufficient to establish thedegree of geological and grade continuityappropriate for the Mineral Resource andOre Reserve estimation procedure(s) andclassifications applied.Whether sample compositing has beenapplied. | Drillholes were generally planned on a minimum25m x 25m spacing.This spacing is considered adequate to define thegeological and grade continuity of mineralisationNo sampling compositing has been applied withinkey mineralised intervals. |
| Orientation ofdata inrelation togeologicalstructure | Whether the orientation of samplingachieves unbiased sampling of possiblestructures and the extent to which this isknown, considering the deposit type.If the relationship between the drillingorientation and the orientation of keymineralised structures is considered tohave introduced a sampling bias, thisshould be assessed and reported ifmaterial. | The drilling is drilled orthogonal to the interpretedstrike of the target horizon.No significant bias has been recognised |
| Samplesecurity | The measures taken to ensure samplesecurity. | All bagged RC samples are delivered directly fromthe field to the assay laboratory in Perth, whereuponthe laboratory checks the physically receivedsamples against Ramelius' samplesubmission/dispatch notes. |
| Audits orreviews | The results of any audits or reviews ofsampling techniques and data. | No external audits have been completed to date. |
Section 2 Reporting of Exploration Results
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| Mineraltenement and | Type, reference name/number, locationand ownership including agreements ormaterial issues with third parties such asjoint ventures, partnerships, overriding | The results reported in this report are on grantedMining Lease, ML58/136; owned 100% by RameliusResources Limited.At this time all the tenements are in good standing. |
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| land tenurestatus | royalties, native title interests, historicalsites, wilderness or national park andenvironmental settings.The security of the tenure held at the timeof reporting along with any knownimpediments to obtaining a licence tooperate in the area. | There are no known impediments to obtaining alicence to operate in the area. |
| Explorationdone by otherparties | Acknowledgment and appraisal ofexploration by other parties. | Previous work consists of RAB/AC and RC drillingdrilled by previous owners. The most significantprevious drilling was RC drilling before and duringmining of the Stellar pit on the early 1990's. |
| Geology | Deposit type, geological setting and styleof mineralisation. | The mineralisation is typical of 'Boogardie' stylefelsic stockwork mineralisation. Porphyritic felsicunits intrude broader ultramafic flows. Deformationand brittle fracture adjacent to contact margins hasgenerated stockwork mineralisation within the felsicunits.Mineralisation occurs relates to small quartz veins,disseminated sulphides and silica‐sericite alteration. |
| Drill holeInformation | A summary of all information material tothe understanding of the explorationresults including a tabulation of thefollowing information for all Material drillholes:oeasting and northing of the drill holecollaroelevation or RL (Reduced Level –elevation above sea level in metres) ofthe drill hole collarodip and azimuth of the holeodown hole length and interceptiondepthhole length.oIf the exclusion of this information isjustified on the basis that the informationis not Material and this exclusion does notdetract from the understanding of thereport, the Competent Person shouldclearly explain why this is the case. | Exploration results not reported at this time. Referto previous releases on drilling results. |
| Dataaggregationmethods | In reporting Exploration Results,weighting averaging techniques,maximum and/or minimum gradetruncations (e.g. cutting of high grades)and cut‐off grades are usually Materialand should be stated.Where aggregate intercepts incorporateshort lengths of high grade results andlonger lengths of low grade results, theprocedure used for such aggregationshould be stated and some typicalexamples of such aggregations should beshown in detail.The assumptions used for any reporting ofmetal equivalent values should be clearlystated. | Weighted average techniques are applied todetermine the grade of the anomalous interval whengeological intervals less than 1m have been sampled.Results are generally reported using a 0.5 g/t Aulower cut‐off and may include up to 2m of internaldilution.No metal equivalent reporting is used or applied. |
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| Relationshipbetweenmineralisationwidths andinterceptlengths | These relationships are particularlyimportant in the reporting of ExplorationResults.If the geometry of the mineralisation withrespect to the drill hole angle is known, itsnature should be reported.If it is not known and only the down holelengths are reported, there should be aclear statement to this effect (e.g. 'downhole length, true width not known'). | The intersection length is measured down the lengthof the hole and is not usually the true widthTrue widths are noted with intercept tables |
| Diagrams | Appropriate maps and sections (withscales) and tabulations of interceptsshould be included for any significantdiscovery being reported These shouldinclude, but not be limited to a plan viewof drill hole collar locations andappropriate sectional views. | Representative maps and sections are attachedabove |
| Balancedreporting | Where comprehensive reporting of allExploration Results is not practicable,representative reporting of both low andhigh grades and/or widths should bepracticed to avoid misleading reporting ofExploration Results. | All new RC drillhole intercepts completed by RMSare reported |
| Othersubstantiveexplorationdata | Other exploration data, if meaningful andmaterial, should be reported including(but not limited to): geologicalobservations; geophysical survey results;geochemical survey results; bulk samples– size and method of treatment;metallurgical test results; bulk density,groundwater, geotechnical and rockcharacteristics; potential deleterious orcontaminating substances. | No other exploration data that has been collected isconsidered meaningful and material to this report |
| Further work | The nature and scale of planned furtherwork (e.g. tests for lateral extensions ordepth extensions or large‐scale step‐outdrilling).Diagrams clearly highlighting the areas ofpossible extensions, including the maingeological interpretations and futuredrilling areas, provided this information isnot commercially sensitive. | Future exploration includes deeper drilling andgeotechnical diamond core drilling to better definethe depth extent and confirm the nature of themineralisation. |
Section 3 Estimation and Reporting of Mineral Resources
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| Databaseintegrity | Measures taken to ensure that data hasnot been corrupted by, for example,transcription or keying errors, betweenits initial collection and its use forMineral Resource estimation purposes. | Data has been sourced from the RMS drillholedatabase using the Datashed systemValidation checks were conducted for overlappingintervals, duplicate assays, EOH depth and negativeor zero assay values |
| Data validation procedures used. | ||
|---|---|---|
| Site visits | Comment on any site visits undertakenby the Competent Person and theoutcome of those visits.If no site visits have been undertakenindicate why this is the case. | The Competent Person has visited the site andconfirmed observations available in drill cuttingsand surface features. |
| Geologicalinterpretation | Confidence in (or conversely, theuncertainty of) the geologicalinterpretation of the mineral deposit.Nature of the data used and of anyassumptions made.The effect, if any, of alternativeinterpretations on Mineral Resourceestimation.The use of geology in guiding andcontrolling Mineral Resource estimation.The factors affecting continuity both ofgrade and geology. | Confidence in the geological interpretation isreasonable. The geometry and nature ofmineralisation is similar to neighbouring depositsData used include drilling assay and geologicallogging and minor historic surface workingsNo alternate interpretation envisagedCore drilling shows mineralised zones associatedwith narrow quartz veins and ferruginous fractures(lower saprolite). |
| Dimensions | The extent and variability of the MineralResource expressed as length (alongstrike or otherwise), plan width, anddepth below surface to the upper andlower limits of the Mineral Resource. | Stellar 250m N‐S strike, 40‐60m wide stockworkzone dipping east around 60°Stellar West 180m E‐W strike, 20‐30m widestockwork zone dipping south around 65° |
| Estimation andmodellingtechniques | The nature and appropriateness of theestimation technique(s) applied and keyassumptions, including treatment ofextreme grade values, domaining,interpolation parameters and maximumdistance of extrapolation from datapoints. If a computer assisted estimationmethod was chosen include a descriptionof computer software and parametersused.The availability of check estimates,previous estimates and/or mineproduction records and whether theMineral Resource estimate takesappropriate account of such data.The assumptions made regardingrecovery of by‐products.Estimation of deleterious elements orother non‐grade variables of economicsignificance (e.g. sulphur for acid minedrainage characterisation).In the case of block model interpolation,the block size in relation to the averagesample spacing and the searchemployed.Any assumptions behind modelling ofselective mining units.Any assumptions about correlationbetween variables.Description of how the geologicalinterpretation was used to control theresource estimates.Discussion of basis for using or not usinggrade cutting or capping. | Deposits were estimated using geological softwareusing Inverse Distance methods as anunconstrained domain. The estimation method isappropriate for the deposit type.For Stellar and earlier Harmony model exists andwas comparedOnly gold is estimatedNo deleterious elements presentParent cell of 5mN x 10mE x 5mRL for Stellar and10mN x 5mE x 5mRL minimum for Stellar West.Subcells only used at topographic boundary. Parentcell estimation only.No selective mining unit assumptions applied.Domains were statistically analysed and assignedappropriate search directions, top‐cuts andestimation parametersSingle unconstrained grade interpretation for eachresource.Samples were composited within ore domains to1m lengthsTop cuts were applied to domains after review ofgrade population characteristics.Validation included visual comparison againstdrillhole grades |
| The process of validation, the checkingprocess used, the comparison of modeldata to drill hole data, and use ofreconciliation data if available. | ||
|---|---|---|
| Moisture | Whether te tonnages are esƟmated on adry basis or with natural moisture, andthe method of determinaƟon of themoisture content. | Tonnages are estimated on a dry basis |
| Cut‐offparameters | The basis of the adopted cut‐off grade(s)or quality parameters applied. | A 0.7 g/t grade cut‐off has been used for resourcereporting |
| Mining factorsor assumptions | Assumptions made regarding possiblemining methods, minimum miningdimensions and internal (or, if applicable,external) mining dilution. It is alwaysnecessary as part of the process ofdetermining reasonable prospects foreventual economic extraction to considerpotential mining methods, but theassumptions made regarding miningmethods and parameters whenestimating Mineral Resources may notalways be rigorous. Where this is thecase, this should be reported with anexplanation of the basis of the miningassumptions made. | Resources are reported on the assumption ofmining by conventional open pit grade control andmining methods. Block size is regarded as areasonable SMU size. |
| Metallurgicalfactors orassumptions | The basis for assumptions or predictionsregarding metallurgical amenability. It isalways necessary as part of the processof determining reasonable prospects foreventual economic extraction to considerpotential metallurgical methods, but theassumptions regarding metallurgicaltreatment processes and parametersmade when reporting Mineral Resourcesmay not always be rigorous. Where thisis the case, this should be reported withan explanation of the basis of themetallurgical assumptions made. | A 92% recovery factor is used and is based onrecent Milky Way testwork and well established MtMagnet recovery data. |
| Environmentalfactors orassumptions | Assumptions made regarding possiblewaste and process residue disposaloptions. It is always necessary as part ofthe process of determining reasonableprospects for eventual economicextraction to consider the potentialenvironmental impacts of the mining andprocessing operation. While at this stagethe determination of potentialenvironmental impacts, particularly for agreenfields project, may not always bewell advanced, the status of earlyconsideration of these potentialenvironmental impacts should bereported. Where these aspects have notbeen considered this should be reportedwith an explanation of the environmentalassumptions made. | Environmental studies and waste characterisationtesting are in progress.The bulk of mine waste would be likely to beoxidised rock and no different to the numerouspreviously mined Mt Magnet pits.Ore treatment and tailings generation would occurat the Mt Magnet Checkers mill site. |
| Bulk density | Whether assumed or determined. Ifassumed, the basis for the assumptions.If determined, the method used, whetherwet or dry, the frequency of themeasurements, the nature, size andrepresentativeness of the samples.The bulk density for bulk material musthave been measured by methods thatadequately account for void spaces(vugs, porosity, etc), moisture anddifferences between rock and alterationzones within the deposit.Discuss assumptions for bulk densityestimates used in the evaluation processof the different materials. | Density values are adopted from recent testworkon the nearby Milky Way deposit and establishedMt Magnet valuesMilky Way density measurements were completedon the geotechnical diamond core holes using theweight in air/weight in water method.They have been assigned by geological andweathering domains |
|---|---|---|
| Classification | The basis for the classification of theMineral Resources into varyingconfidence categories.Whether appropriate account has beentaken of all relevant factors (ie relativeconfidence in tonnage/gradeestimations, reliability of input data,confidence in continuity of geology andmetal values, quality, quantity anddistribution of the data).Whether the result appropriately reflectsthe Competent Person's view of thedeposit. | The resource has been classified as Indicated orInferred category's based on geological and gradecontinuity and drill hole spacing.The resource classification accounts for all relevantfactorsThe classification reflects the Competent Person'sview |
| Audits orreviews | The results of any audits or reviews ofMineral Resource estimates. | No audits or reviews conducted. |
| Discussion ofrelativeaccuracy/confidence | Where appropriate a statement of therelative accuracy and confidence level inthe Mineral Resource estimate using anapproach or procedure deemedappropriate by the Competent Person.For example, the application of statisticalor geostatistical procedures to quantifythe relative accuracy of the resourcewithin stated confidence limits, or, if suchan approach is not deemed appropriate,a qualitative discussion of the factorsthat could affect the relative accuracyand confidence of the estimate.The statement should specify whether itrelates to global or local estimates, and,if local, state the relevant tonnages,which should be relevant to technical andeconomic evaluation. Documentationshould include assumptions made andthe procedures used.These statements of relative accuracyand confidence of the estimate should becompared with production data, whereavailable. | Confidence in the relative accuracy of the estimatesis reflected by the classifications assignedThe estimate is a global estimateNo recent production data is available forcomparison |
JORC Table 1 Report for Exploration RC and Aircore Drilling – including Mount Magnet and the Tanami JV
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| Samplingtechniques | Nature and quality of sampling (egcut channels, random chips, orspecific specialised industry standardmeasurement tools appropriate to theminerals under investigation, such asdown hole gamma sondes, orhandheld XRF instruments, etc). Theseexamples should not be taken aslimiting the broad meaning ofsampling.Include reference to measures takento ensure sample representivity andthe appropriate calibration of anymeasurement tools or systems used.Aspects of the determination ofmineralisation that are Material tothe Public Report.In cases where 'industry standard'work has been done this would berelatively simple (eg 'reversecirculation drilling was used to obtain1 m samples from which 3 kg waspulverised to produce a 30 g chargefor fire assay'). In other cases moreexplanation may be required, such aswhere there is coarse gold that hasinherent sampling problems. Unusualcommodities or mineralisation types(eg submarine nodules) may warrantdisclosure of detailed information. | At Mt Magnet potential gold mineralisedintervals are systematically sampled usingindustry standard 1m intervals, collected fromreverse circulation (RC) drill holes and 4mcomposites from reconnaissance Aircoretraverses. 3m composites were collected in theTanami JVDrill hole locations were designed to allow forspatial spread across the interpretedmineralised zone. All RC samples werecollected and riffle split to 3‐4kg samples on 1mmetre intervals. Aircore samples are spearedfrom piles on the ground and are compositedinto 4m intervals before despatching to thelaboratory. Single metre bottom of hole Aircoresamples are collected for trace elementdeterminationsStandard fire assaying was employed using a50gm charge with an AAS finish for all RC andAircore chip samples at Mount Magnet. In theTanami a 25gm charge was employed with anICP‐OES finish. Trace element determinationwas undertaken using a multi (4) acid digest andICP‐ AES finish. |
| Drillingtechniques | Drill type (eg core, reverse circulation,open‐hole hammer, rotary air blast,auger, Bangka, sonic, etc) and details(eg core diameter, triple or standardtube, depth of diamond tails, face‐sampling bit or other type, whethercore is oriented and if so, by whatmethod, etc). | Drilling was completed using best practice 5 ¾"face sampling RC drilling hammers for all RC drillholes and 3" Aircore bits. |
| Drill samplerecovery | Method of recording and assessingcore and chip sample recoveries andresults assessed. | Bulk RC and Aircore drill holes samples werevisually inspected by the supervising geologistto ensure adequate clean sample recoveries |
Section 1 Sampling Techniques and Data
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| Measures taken to maximise samplerecovery and ensure representativenature of the samples.Whether a relationship existsbetween sample recovery and gradeand whether sample bias may haveoccurred due to preferential loss/gainof fine/coarse material. | were achieved. Note Aircore drilling while cleanis not used in any resource estimation work.Any wet, contaminated or poor sample returnsare flagged and recorded in the database toensure no sampling bias is introduced.Zones of poor sample return both in RC andAircore are recorded in the database and crosschecked once assay results are received fromthe laboratory to ensure no misrepresentationof sampling intervals has occurred. Of note,excellent RC drill recovery is reported from allRC holes. Reasonable recovery is noted for allAircore samples. | |
| Logging | Whether core and chip samples havebeen geologically and geotechnicallylogged to a level of detail to supportappropriate Mineral Resourceestimation, mining studies andmetallurgical studies.Whether logging is qualitative orquantitative in nature. Core (orcostean, channel, etc) photography.The total length and percentage ofthe relevant intersections logged. | All drill samples are geologically logged on siteby professional geologists. Details on the hostlithologies, deformation, dominant mineralsincluding sulphide species and alterationminerals plus veining are recorded relationally(separately) so the logging is interactive and notbiased to lithology.Drill hole logging is qualitative on visualrecordings of rock forming minerals andquantitative on estimates of mineralabundance.The entire length of each drill hole isgeologically logged. |
| Sub‐samplingtechniquesand samplepreparation | If core, whether cut or sawn andwhether quarter, half or all coretaken.If non‐core, whether riffled, tubesampled, rotary split, etc and whethersampled wet or dry.For all sample types, the nature,quality and appropriateness of thesample preparation technique.Quality control procedures adoptedfor all sub‐sampling stages tomaximise representivity of samples.Measures taken to ensure that thesampling is representative of the insitu material collected, including forinstance results for fieldduplicate/second‐half sampling.Whether sample sizes are appropriateto the grain size of the material beingsampled. | Duplicate samples are collected every 25thsample from the RC and Aircore chips.Dry RC 1m samples are riffle split to 3‐4kg asdrilled and dispatched to the laboratory. Anywet samples are recorded in the database assuch and allowed to dry before splitting anddispatching to the laboratory.All RC and Aircore chips are pulverized prior tosplitting in the laboratory to ensurehomogenous samples with 85% passing 75um.200gm is extracted by spatula that is used forthe 50gm or 25gm charge on standard fireassays.All samples submitted to the laboratory aresorted and reconciled against the submissiondocuments. In addition to duplicates a highgrade or low grade standard is included every25th sample, a controlled blank is inserted every100th sample. The laboratory uses barrenflushes to clean their pulveriser and their owninternal standards and duplicates to ensureindustry best practice quality control ismaintained.The sample size is considered appropriate forthe type, style, thickness and consistency of |
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| mineralization. | ||
| Quality ofassay dataandlaboratorytests | The nature, quality andappropriateness of the assaying andlaboratory procedures used andwhether the technique is consideredpartial or total.For geophysical tools, spectrometers,handheld XRF instruments, etc, theparameters used in determining theanalysis including instrument makeand model, reading times,calibrations factors applied and theirderivation, etc.Nature of quality control proceduresadopted (eg standards, blanks,duplicates, external laboratorychecks) and whether acceptable levelsof accuracy (ie lack of bias) andprecision have been established. | The fire assay method is designed to measurethe total gold in the RC and Aircore samples.The technique involves standard fire assaysusing a 50gm or 25gm sample charge with alead flux (decomposed in the furnace). The prillis totally digested by HCl and HNO3 acids beforemeasurement of the gold determination byAAS. Aqua regia digest is considered adequatefor surface soil sampling.No field analyses of gold grades are completed.Quantitative analysis of the gold content andtrace elements is undertaken in a controlledlaboratory environment.Industry best practice is employed with theinclusion of duplicates and standards asdiscussed above, and used by Ramelius as wellas the laboratory. All Ramelius standards andblanks are interrogated to ensure they lie withinacceptable tolerances. Additionally, samplesize, grind size and field duplicates areexamined to ensure no bias to gold gradesexists. |
| Verificationof samplingand assaying | The verification of significantintersections by either independent oralternative company personnel.The use of twinned holes.Documentation of primary data, dataentry procedures, data verification,data storage (physical and electronic)protocols.Discuss any adjustment to assay data. | Alternative Ramelius personnel have inspectedthe RC and Aircore chips in the field to verifythe correlation of mineralised zones betweenassay results and lithology, alteration andmineralization.All holes are digitally logged in the field and allprimary data is forwarded to Ramelius'Database Administrator (DBA) in Perth where itis imported into Datashed, a commerciallyavailable and industry accepted databasesoftware package. Assay data is electronicallymerged when received from the laboratory.The responsible project geologist reviews thedata in the database to ensure that it is correctand has merged properly and that all the drilldata collected in the field has been capturedand entered into the database correctly.The responsible geologist makes the DBA awareof any errors and/or omissions to the databaseand the corrections (if required) are correctedin the database immediately.No adjustments or calibrations are made to anyof the assay data recorded in the database.No new mineral resource estimate is included inthis report. |
| Location ofdata points | Accuracy and quality of surveys usedto locate drill holes (collar and down‐ | All drill hole collars are picked up using accurateDGPS survey control. All down hole surveys are |
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| hole surveys), trenches, mineworkings and other locations used inMineral Resource estimation.Specification of the grid system used.Quality and adequacy of topographiccontrol. | collected using downhole Eastman single shotsurveying techniques provided by the drillingcontractors.All Mt Magnet holes are picked up in MGA94 –Zone 50 grid coordinates. In the Tanami holesare picked up in MGA94‐Zone 52 gridcoordinates.DGPS RL measurements captured the collarsurveys of the drill holes prior to the resourceestimation work. | |
| Data spacinganddistribution | Data spacing for reporting ofExploration Results.Whether the data spacing anddistribution is sufficient to establishthe degree of geological and gradecontinuity appropriate for the MineralResource and Ore Reserve estimationprocedure(s) and classificationsapplied.Whether sample compositing hasbeen applied. | All drilling was reconnaissance in nature,looking for extensions to known mineralisedsystems. As such the drilling pattern is randomand no true continuity has been established todate.Given the limited understanding of the targethorizon infill drilling will be considerednecessary to help define the continuity ofmineralisation.No sampling compositing has been appliedwithin key mineralised intervals. |
| Orientationof data inrelation togeologicalstructure | Whether the orientation of samplingachieves unbiased sampling ofpossible structures and the extent towhich this is known, considering thedeposit type.If the relationship between the drillingorientation and the orientation of keymineralised structures is consideredto have introduced a sampling bias,this should be assessed and reportedif material. | The RC drilling is completed orthogonal to theinterpreted strike of the target horizon. Aircoredrilling is completed on systematic MGA E‐W(Magnet) traverses with holes nominally 50mapart. North‐south traverses wereimplemented in the Tanami to drill orthogonalto the predicted strike of the landNo diamond drilling has been completed on anyof these reported prospects by Ramelius at thisstage. |
| Samplesecurity | The measures taken to ensure samplesecurity. | Sample security is integral to Ramelius'sampling procedures. All bagged samples aredelivered directly from the field to the assaylaboratory in Perth, whereupon the laboratorychecks the physically received samples againstRamelius' sample submission/dispatch notes. |
| Audits orreviews | The results of any audits or reviews ofsampling techniques and data. | Sampling techniques and procedures arereviewed prior to the commencement of newwork programmes to ensure adequateprocedures are in place to maximize the samplecollection and sample quality on new projects.No external audits have been completed todate. |
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| Mineraltenement andland tenurestatus | Type, reference name/number,location and ownership includingagreements or material issues withthird parties such as joint ventures,partnerships, overriding royalties,native title interests, historical sites,wilderness or national park andenvironmental settings.The security of the tenure held at thetime of reporting along with anyknown impediments to obtaining alicence to operate in the area. | The results reported in this report are ongranted Mining Leases (ML) 58/136 + 187 (MtMagnet –Zeus, Stellar + Stellar West),ML58/205 (Hesperus East) and ML58/202(Morning Star/Black Cat South/Bullocks), allowned 100% by Ramelius Resources Limited.Tanami drilling was on EL29829 owned 85% byRamelius in joint venture with TycheanResources Limited (15%). The Mt Magnettenements are located on pastoral/grazingleases, while the Tanami tenement is situatedon Aboriginal Land administered by the CLC, inAlice Springs. Heritage surveys are completedprior to any ground disturbing activities inaccordance with Ramelius' responsibilitiesunder the Aboriginal Heritage Act.At this time all the tenements are in goodstanding. There are no known impediments toobtaining a licence to operate in the area. |
| Explorationdone by otherparties | Acknowledgment and appraisal ofexploration by other parties. | Exploration and mining by other parties hasbeen reviewed and is used as a guide toRamelius' exploration activities. Previousparties have completed shallow RAB, Aircoredrilling and RC drilling and shallow open pit andunderground mining at Morning Star/Black CatSouth, plus drilling and open pit mining only atMilky Way, O'Meara, Franks Tower and Stellarplus geophysical data collection andinterpretation. This report concerns onlyexploration results generated by Ramelius sinceOctober 2016. |
| Geology | Deposit type, geological setting andstyle of mineralisation. | The targeted mineralisation at Morning StarStellar West and elsewhere at Mount Magnet istypical of orogenic structurally controlledArchaean gold lode systems. The mineralisationis controlled by anastomosing shear zonespassing through competent rock units, brittlefracture and stockwork mineralization iscommon on the competent BIF or porphyryrock. The bedrock Morning Star mineralisationcurrently extends over 700m strike and dipssteeply westwards and plunges 60deg to thesouthwest. The historically mined lodes areknown to extend to at least 1km below surface.The mineralization targeted for in the Tanami isalso shear related, orogenic gold lode deposits. |
| Drill holeInformation | A summary of all informationmaterial to the understanding of theexploration results including a | All the drill holes reported in this report havethe following parameters applied. All drill holescompleted, including holes with no significant |
Section 2 Reporting of Exploration Results
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| tabulation of the followinginformation for all Material drill holes:easting and northing of the drillohole collaroelevation or RL (Reduced Level –elevation above sea level inmetres) of the drill hole collardip and azimuth of the holeodown hole length and interceptionodepthohole length.If the exclusion of this information isjustified on the basis that theinformation is not Material and thisexclusion does not detract from theunderstanding of the report, theCompetent Person should clearlyexplain why this is the case. | results (as defined in the Attachments) arereported in this announcement.Easting and northing are given in MGA94coordinates as defined in the Attachments.RL is AHDDip is the inclination of the hole from thehorizontal. Azimuth is reported in magneticdegrees as the direction the hole is drilled.MGA94 and magnetic degrees vary by <10in theproject area and ~3% in the Tanami.Down hole length is the distance measuredalong the drill hole trace. Intersection length isthe thickness of an anomalous gold intersectionmeasured along the drill hole trace.Hole length is the distance from the surface tothe end of the hole measured along the drillhole trace.No results currently available from theexploration drilling are excluded from thisreport. Gold grade intersections >50ppb Auwithin 3m composites for the Tanami, or >0.4g/t Au within 4m Aircore composites at MountMagnet, or >0.5 g/t Au within single metre RCsamples (with up to 4m of internal dilution) areconsidered significant (based upon the knowndistribution of gold mineralization within eachproject) in the broader mineralised host rocksGold grades greater than 0.5 g/t Au arehighlighted where good continuity of highergrade mineralization is observed. | |
| Dataaggregationmethods | In reporting Exploration Results,weighting averaging techniques,maximum and/or minimum gradetruncations (eg cutting of highgrades) and cut‐off grades are usuallyMaterial and should be stated.Where aggregate interceptsincorporate short lengths of highgrade results and longer lengths oflow grade results, the procedure usedfor such aggregation should be statedand some typical examples of suchaggregations should be shown indetail.The assumptions used for anyreporting of metal equivalent valuesshould be clearly stated. | The first gold assay result received from eachsample reported by the laboratory is tabled inthe list of significant assays. Subsequent repeatanalyses when performed by the laboratory arechecked against the original to ensurerepeatability of the assay results.Weighted average techniques are applied todetermine the grade of the anomalous intervalwhen geological intervals less than 1m havebeen sampled.Exploration drilling results are generallyreported using a 0.1 g/t Au lower cut‐off (asdescribed above and reported in theAttachments) and may include up to 4m ofinternal dilution. Significant resourcedevelopment drill hole assays are reportedgreater than 0.5 or 8.0 g/t Au and are alsoreported separately. For example, the broaderplus 1.0 g/t Au intersection of 6.5m @ 30.5 g/tAu contains a higher grade zone running plus 8g/t Au and is included as 4m @ 48.5 g/t Au. |
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| Where extremely high gold intersections areencountered as in this example, the highestgrade sample interval (eg 1.0m @ 150 g/t Au) isalso reported. All assay results are reported to3 significant figures in line with the analyticalprecision of the laboratory techniquesemployed.No metal equivalent reporting is used orapplied. | ||
| Relationshipbetweenmineralisationwidths andinterceptlengths | These relationships are particularlyimportant in the reporting ofExploration Results.If the geometry of the mineralisationwith respect to the drill hole angle isknown, its nature should be reported.If it is not known and only the downhole lengths are reported, thereshould be a clear statement to thiseffect (eg 'down hole length, truewidth not known'). | The intersection length is measured down thelength of the hole and is not usually the truewidth. When sufficient knowledge on thethickness of the intersection is known anestimate of the true thickness is provided in theAttachment.The known geometry of the mineralisation withrespect to the drill holes reported in this reportis not well constrained at this stage given thevariable orientation of ore shoots historicallymined at Morning Star. |
| Diagrams | Appropriate maps and sections (withscales) and tabulations of interceptsshould be included for any significantdiscovery being reported These shouldinclude, but not be limited to a planview of drill hole collar locations andappropriate sectional views. | Drillhole plan and sectional views of Zeus,Hesperus East, Morning Star/Black Cat Southpits (previously provided) have been providedin this release. Given the interpreted steep dipsof the mineralisation at Morning Star the longsectional view presentation is currentlyconsidered the best 2‐D representation of theknown spatial extent of the mineralizationintersected to date. |
| Balancedreporting | Where comprehensive reporting of allExploration Results is not practicable,representative reporting of both lowand high grades and/or widths shouldbe practiced to avoid misleadingreporting of Exploration Results. | All drill holes completed to date are reported inthis report and all material intersections asdefined) are reported. |
| Othersubstantiveexplorationdata | Other exploration data, if meaningfuland material, should be reportedincluding (but not limited to):geological observations; geophysicalsurvey results; geochemical surveyresults; bulk samples – size andmethod of treatment; metallurgicaltest results; bulk density,groundwater, geotechnical and rockcharacteristics; potential deleteriousor contaminating substances. | No other exploration data that has beencollected is considered meaningful and materialto this report. |
| Further work | The nature and scale of plannedfurther work (eg tests for lateralextensions or depth extensions orlarge‐scale step‐out drilling).Diagrams clearly highlighting the | Future exploration includes ongoing Aircoredrilling, infill RC and further step out drillingbelow and along strike of the reportedintersections and deeper diamond drilling atMorning Star to better define the extent of the |
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| areas of possible extensions, includingthe main geological interpretationsand future drilling areas, provided thisinformation is not commerciallysensitive. | mineralization discovered to date. |