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RAND MINING LIMITED — Interim / Quarterly Report 2013
Feb 26, 2013
65721_rns_2013-02-26_72326368-4b94-43a1-bccc-e0c5e67d3ba9.pdf
Interim / Quarterly Report
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27 February 2013
Company Announcements Office
Australian Securities Exchange Ltd
4[th] Floor
20 Bridge Street
Sydney NSW 2000
Dear Sir/Madam
EKJV December 2012 quarterly report
Rand Mining Ltd (ASX code: RND, “Rand” or “the Company”) has pleasure in providing the EKJV December 2012 Quarterly Exploration Report
Yours Sincerely
Roland Berzins
Company Secretary
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ACN 139 342 859
26[th] February 2013
Mr Anton Billis,
Director,
Rand Mining Ltd
PO Box 307
West Perth 6872
Dear Anton,
RE: EKJV Exploration Results – December Quarter 2012.
As you requested I have reviewed the Barrick Report “Quarterly Exploration Report: December 2012 EKJV Quarterly Activity. The Barrick Report is attached and is suitable for release to the market.
Yours sincerely,
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Matthew Sullivan
B.App.Sc, M. Aus.I.M.M
Competency Statement
The information in this report in relation to Exploration Results and Mineral Resources is based on information reviewed by Matthew Sullivan who is a Member of the Australasian Institute of Mining and Metallurgy and has sufficient exploration experience which is relevant to the style of mineralisation under consideration to qualify as a Competent Person as defined in the 2004 Edition of the “Australian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves”. Mr. Sullivan is a full time employee of Jemda Pty Ltd, consultants to Rand Mining and consents to the inclusion of the matters based on this information in the form and context in which it appears.
Office Address: 20 Meelup Way Ridgewood WA 6030
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Quarterly Exploration Report: December 2012 EKJV Quarterly Activity
Summary
This report provides a quarterly report on work conducted by Barrick Kanowna on the East Kundana Joint Venture (EKJV). The EKJV is a joint venture between Barrick Gold subsidiary company Gilt-Edge Mining NL (GEM) and Rand Mining Ltd and Tribune Resources Ltd.
Work was conducted on the Pegasus prospect within the EKJV on mining lease M16/309.
Drilling at Pegasus between October and December 2012 focused on linking mineralisation between Rubicon and Pegasus, targeting mineralisation within K2B as well as exploring for extensions to mineralisation along strike at depth within K2.
Figure 1 shows a collar plan of the September quarter drilling.
Pegasus
The December quarter of 2012 saw a substantial amount of drilling take place at the Pegasus deposit to infill existing drill data as well as exploring for extensions to mineralisation along strike.
Five drill programs consisting of 13 drill holes were completed at the Pegasus project following on from positive outcomes achieved to date in 2012. Early in the quarter drilling was designed to target mineralisation between the Rubicon deposit and Pegasus. The Rubicon-Pegasus program was followed up with drilling of the Poade load which constitutes an area within the K2B structure where gold mineralisation appears to be thickened significantly. Following on from Poade two holes were drilled to provide drill core for metallurgical test-work from the core of the deposit. RC drilling was used to infill drill in the K2B structure within the footprint of the optimised open pit. Drilling for the rest of the quarter was focused on exploring for extensions to gold mineralisation within K2 at depth, north of the prospect.
Figure 2 shows an updated long projection of the K2 mineralisation for the Pegasus project.
Drilling
A total of 11 diamond drill holes were completed during the quarter for a total advance of 4,380.6m. Two reverse circulation drill holes were drilled for a total advance of 300m
Results for this are tabled below (Table 1). Significant intersections are listed:
| PGDD12125 | 5.2m @ 19 g/t Au from 277.8m; and |
|---|---|
| 5.0m @ 20.5 g/t Au from 512.0m | |
| PGDD12062 | 6.4m @ 5.93 g/t Au from 485.0m |
| PGDD12098 | 6.0m @ 5.23 g/t Au from 481.0m |
| PGDD12114 | 1.1m @ 102.2 g/t Au from 96.1m |
| PGDD12117 | 3.0m @ 8.98 g/t Au from 34.0m |
| PGDD12119 | 4.6m @ 6.9 g/t Au from 436.2m |
| PGDD12121 | 12.1m @ 4.47 g/t Au from 115.0m |
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Figure 1 , Map of c o llar positio n s for 4[th] Q u arter drilli n g at Pega s us
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Figure 2, K2 Long pro j ection
| Hole ID | East | North | RL | Azi | Dip | EOH Depth |
From (m) |
To (m) |
DH Width |
Grade (g/t) |
Code | Comment |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DRAKE | ||||||||||||
| DRRC12003 | 332721 | 6598882 | 343 | 61 | ‐60 | 60 | 29.0 | 39.0 | 10.0 | 2.37 | Drake | |
| DRRC12006 | 332667 | 6598809 | 343 | 61 | ‐60 | 180 | 137.0 | 140.0 | 3.0 | 0.74 | Drake | |
| PEGASUS | ||||||||||||
| PGDD12061 | 332792 | 6598114 | 343 | 61 | ‐60 | 543 | 228.0 | 234.0 | 6.0 | 1.94 | K2A | |
| 306.0 | 310.0 | 4.0 | 3.38 | K2B | ||||||||
| 450.0 | 451.0 | 1.0 | 1.69 | K2_CHW | ||||||||
| 470.0 | 471.0 | 1.0 | 16.0 | K2_CFW | ||||||||
| PGDD12062 | 332716 | 6598233 | 345 | 61 | ‐60 | 492 | 471.0 | 473.6 | 2.6 | 1.84 | K2B | |
| 485.0 | 491.4 | 6.4 | 5.93 | K2 | ||||||||
| PGDD12063 | 332742 | 6598354 | 344 | 61 | ‐60 | 411 | 185.0 | 189.0 | 4.0 | 0.87 | ||
| 193.0 | 199.0 | 6.0 | 2.54 | K2B | ||||||||
| K2 Results pending | ||||||||||||
| PGDD12098 | 332742 | 6598354 | 345 | 61 | ‐73 | 564 | 141.5 | 145.0 | 3.5 | 3.91 | ||
| 201.0 | 206.0 | 5.0 | 1.91 | K2A | ||||||||
| 325.0 | 329.0 | 4.0 | 1.48 | |||||||||
| 452.0 | 461.0 | 9.0 | 1.90 | |||||||||
| 463.0 | 475.0 | 12.0 | 1.08 | |||||||||
| 481.0 | 487.0 | 6.0 | 5.23 | K2 | ||||||||
| PGDD12108 | 333043 | 6598435 | 345 | 224 | ‐55 | 183 | 116.3 | 117.0 | 0.7 | 11.0 | K2_CFW | |
| PGDD12112 | 332948 | 6598217 | 344 | 61 | ‐60 | 243 | 92.9 | 94.5 | 1.7 | 7.87 | K2B | |
| 107.7 | 109.0 | 1.3 | 12.3 | |||||||||
| 227.0 | 228.0 | 1.0 | 3.60 | K2 | ||||||||
| PGDD12113 | 332916 | 6598198 | 345 | 61 | ‐60 | 138 | 124.5 | 125.1 | 0.6 | 14.1 | K2B | |
| 215.0 | 218.0 | 3.0 | 0.72 | |||||||||
| 268.0 | 269.0 | 1.0 | 3.75 | K2 | ||||||||
| PGDD12114 | 332967 | 6598181 | 344 | 61 | ‐60 | 252.1 | 96.1 | 96.7 | 1.1 | 102.2 | K2B | |
| PGDD12115 | 332936 | 6598163 | 345 | 61 | ‐60 | 286.8 | 136.0 | 140.0 | 4.0 | 2.01 | K2B | |
| 143.0 | 144.0 | 1.0 | 1.25 | K2B | ||||||||
| 146.0 | 147.0 | 1.0 | 1.15 | K2B | ||||||||
| 269.0 | 271.0 | 2.0 | 16.7 | K2 | ||||||||
| PGDD12117 | 333127 | 6598195 | 346 | 61 | ‐60 | 60 | 24.0 | 27.0 | 3.0 | 3.21 | Supergene | |
| 34.0 | 37.1 | 3.0 | 8.98 | K2 | ||||||||
| PGDD12118 | 333112 | 6598185 | 344 | 61 | ‐60 | 78 | 52.0 | 60.0 | 6.4 | 0.75 | K2 | Significant core loss in min zone. |
| PGDD12119 | 333045 | 6597746 | 343 | 61 | ‐60 | 492.05 | 436.2 | 440.8 | 4.6 | 6.90 | K2 | |
| PGDD12120 | 333092 | 6597667 | 343 | 61 | ‐60 | 450.04 | 346.5 | 346.9 | 0.4 | 7.73 | K2B | |
| 419.7 | 420.5 | 0.8 | 34.3 | K2 | ||||||||
| PGDD12121 | 333028 | 6598159 | 344 | 331 | ‐60 | 321 | 111.2 | 111.5 | 0.3 | 4.44 | K2B |
| Hole ID | East | North | RL | Azi | Dip | EOH Depth |
From (m) |
To (m) |
DH Width |
Grade (g/t) |
Code | Comment |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 115.0 | 127.1 | 12.1 | 4.47 | K2B | ||||||||
| PGDD12122 | 332937 | 6598273 | 344 | 151 | ‐62 | 231 | 126.8 | 128.8 | 2.0 | 5.93 | K2B | |
| PGDD12123 | 333059 | 6598157 | 344 | 59 | ‐62 | 160.5 | 29.0 | 30.0 | 1.0 | 2.59 | ||
| 39.0 | 41.0 | 2.0 | 4.58 | |||||||||
| 114.0 | 115.0 | 1.0 | 4.12 | K2B | ||||||||
| 120.8 | 121.7 | 0.9 | 49.1 | K2 | ||||||||
| 141.0 | 146.2 | 5.2 | 3.43 | K2_CFW | ||||||||
| PGDD12124 | 333117 | 6598050 | 344 | 54 | ‐60 | 165 | 81.5 | 83.6 | 2.5 | 3.86 | K2B | |
| 150.7 | 152.8 | 2.1 | 30.7 | K2 | ||||||||
| 157.0 | 158.0 | 1.0 | 11.1 | |||||||||
| PGDD12125 | 332575 | 6598404 | 346 | 61 | ‐60 | 548.5 | 277.8 | 263.0 | 5.2 | 19.0 | K2A | |
| 512.0 | 517.0 | 5 | 20.5 | K2 | ||||||||
| PGDD12126 | 332740 | 6598465 | 345 | 61 | ‐60 | 369 | Results pending | |||||
| PGDD12127 | 332608 | 6598495 | 346 | 87 | ‐70 | 573 | Results pending | |||||
| PGDD12128 | 332635 | 6598513 | 345 | 61 | ‐65 | 474 | Results pending | |||||
| PGDD12129 | 332607 | 6598496 | 347 | 61 | ‐70 | 551.5 | Results pending | |||||
| PGRC12130 | 333011 | 6598255 | 344 | 60 | ‐60 | 150 | 95.0 | 96.0 | 1.0 | 23.1 | ||
| 118.0 | 121.0 | 4.0 | 0.99 | K2_CFW | ||||||||
| PGRC12131 | 333005 | 6598274 | 344 | 60 | ‐60 | 150 | 51.0 | 52.0 | 1.0 | 3.66 | K2B | |
| 95.0 | 99.0 | 4.0 | 2.11 | K2_CHW | ||||||||
| 112.0 | 114.0 | 2.0 | 10.8 | K2_CFW | ||||||||
| PGDD12132 | 332835 | 6597947 | 346 | 61 | ‐66 | 660 | Results pending |
Table 1, Final results
K2 is the main mineralised surface and spans a carbonaceous shale unit, the Centenary Shale. Where the shale unit is thick and the position of the vein is distinct, K2 has been sub‐divided into the K2 vein on the footwall of the Centenary Shale (K2_CFW), and K2 vein on the hangingwall of the same shale (K2_CHW). K2B and K2A are sub‐parallel structures analogous to K2, but positioned in the hanging wall basalt. K2, K2A and K2B are all part of the same suite of shears that form part of the regional Zuleika Shear Zone.
Competency Statement
The information in this report relating to Exploration Results and Mineral Resources is based on information compiled by Mr Glenn Grayson who is a Member of the Australian Institute of Mining and Metallurgy and has sufficient exploration experience which is relevant to the style of mineralisation under consideration to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Grayson is a full time employee of Barrick Kanowna and consents to the inclusion in the report of the matters based on his information in the form and context in which it appears (Figures 1 and 2, and Table 1).