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REGIS RESOURCES LIMITED — Interim / Quarterly Report 2017
Oct 13, 2016
65733_rns_2016-10-13_8d956990-0b2d-4bd7-b1a3-e3ca91f3cd71.pdf
Interim / Quarterly Report
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Quarterly Report to 30 September 2016
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HIGHLIGHTS
DUKETON OPERATIONS
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Quarterly gold production of 74,612 ounces (June 16: 78,471 ounces) at the lower end of annual guidance with quarterly production expected to increase over the balance of FY17 as satellite projects Gloster and Erlistoun come on line.
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Pre-royalty cash cost for the quarter in line with guidance of $850 per ounce and all in sustaining cost of $946 per ounce (June 16: CC $776/oz & AISC $951/oz), which is below the lower end of FY17 annual guidance.
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Strong cash flow generation from operations continues with $59.6 million for the quarter (June 16: $68.2m).
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Mining at the Gloster Project commenced during the quarter with first ore carted to the Moolart Well processing plant after the end of the quarter to provide first gold production in the December 2016 quarter.
CORPORATE
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Regis declared and paid a fully franked dividend of 9 cents per share taking full year FY16 dividends to 13 cents per share.
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Cash and bullion position of $103.1 million (June 16: $123.3 million) after the payment of $45 million in fully franked dividends and $5.1 million start-up capital at Gloster.
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During the quarter, Regis sold 73,607 ounces of gold at an average price of A$1,765 per oz.
RESOURCES AND RESERVES
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Maiden Inferred Mineral Resource Estimate completed for Tooheys Well of 14.6 Mt @ 1.16 g/t gold for 547,000 ounces of gold at a 0.4g/t gold cut-off grade.
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Infill drilling of the Tooheys Well deposit, only 2.5 kilometres from the Garden Well processing plant, is being expedited with a view to including in an update to the Resource estimate and a maiden Ore Reserve estimate in the December 2016 quarter.
EXPLORATION
- RC drilling at Tooheys Well has continued to return high grade mineralisation. Significant results from infill drilling during the quarter include:
| 25 | metres @ | 2.25 | g/t gold from | 226 | to | 251m | 30 | metres @ | 2.13 | g/t gold from | 161 | to | 191m |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 25 | metres @ | 3.41 | g/t gold from | 251 | to | 276m | 32 | metres @ | 2.83 | g/t gold from | 192 | to | 224m |
| 30 | metres@ | 2.01 | g/tgold from | 176 | to | 206m | 56 | metres@ | 2.34 | g/tgold from | 218 | to | 274m |
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13,000 metre underground target drilling commenced under Rosemont Main pit.
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Resource definition and drilling beneath the current pit design at Rosemont South returned significant results:
| 10 metres @ 30.11 g/t gold from 48 to 58m | 17 metres @ 4.41 g/t gold from 153 to 170m |
|---|---|
| 2 [email protected]/tgold from 74 to 76m | 29 [email protected]/tgold from 175 to 204m |
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25,000 metre resource definition drill programme commenced at McPhillamys in NSW
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RC resource extension drilling at Gloster has returned encouraging results including 10 metres @ 3.95 g/t gold from 19 to 29 metres.
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Quarterly Report to 30 September 2016
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DUKETON OPERATIONS
The Duketon Gold Project produced 74,612 ounces of gold in the September 2016 quarter. The September 2016 production is consistent with the run rate for the last 12 months but is at the lower end of the FY17 production guidance range of 300,000 - 330,000 ounces. As previously reported, production is anticipated to increase over the remainder of FY17 as higher grade satellite ore is brought into the processing schedule from Gloster and Erlistoun.
The pre-royalty cash cost for the quarter of $850 per ounce was in line with annual guidance whilst the all in sustaining cost (AISC) of $946 per ounce was below the lower end of annual cost guidance for FY2017. AISC was affected by the 5% lower volume of material mined and stripping ratio across the Duketon Project compared to the prior quarter. The volume of waste mined was lower partly due to the effect of unseasonal rainfall on mining activities.
Operating results for the Regis group for the September 2016 quarter were as follows:
| DNO | DSO | TOTAL | |
|---|---|---|---|
| Ore mined (Mbcm ) | 0.4 | 0.7 | 1.1 |
| Waste mined (Mbcm) | 1.9 | 3.9 | 5.8 |
| Stripping ratio (w:o) | 5.2 | 5.3 | 5.3 |
| Ore mined (Mtonnes) | 0.8 | 1.9 | 2.7 |
| Ore milled (Mtonnes) | 0.77 | 1.85 | 2.62 |
| Head grade (g/t) | 0.95 | 0.99 | 0.98 |
| Recovery (%) | 91.0 | 90.7 | 90.8 |
| Gold production (ounces) | 21,334 | 53,278 | 74,612 |
| Cash cost (A$/oz) | 675 | 920 | 850 |
| Cash cost inc royalty (A$/oz) | 745 | 990 | 920 |
| All in Sustaining Cost (A$/oz)1 | 803 | 1,003 | 946 |
1 AISC calculated on a per ounce of production basis
Duketon Northern Operations (DNO) produced 21,334 ounces of gold at an AISC of $803 per ounce.
Gold production at DNO continued to increase (up 4% from the June 2016 quarter) as a result of the higher grade and throughput achieved. The annualised throughput rate for the quarter of over 3mtpa represents record throughput at the operation and is a result of a higher proportion of oxide ore treated. This has contributed to the highest quarterly gold production at DNO since the December 2014 quarter.
Mining of the Gloster Project and stockpiling of ore at the operation commenced during the quarter. Since the end of the quarter first ore has been carted by road to the Moolart Well processing plant (26 kilometres to the east) which will see processing of Gloster ore commence in the December 2016 quarter. This is expected to have a further positive effect on the head grade of DNO. All capital and development works for the project were completed either during or since the end of the quarter.
Duketon Southern Operations (DSO) produced 53,278 ounces of gold at an AISC of $1,003 per ounce.
DSO gold production was 8% lower than the previous quarter primarily as a result of lower grades processed at both Garden Well and Rosemont. Mining at Rosemont during the quarter has been focussed in the lower grade southern end of the pit, leaving the central higher grade area which was mined in the previous quarter. The southern part of the Rosemont main pit is currently in the transitional zone where grades have historically been lower in an area of depletion that is located
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Quarterly Report to 30 September 2016
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immediately above the top of fresh rock. The southern end grades of the open pit are expected to increase by the end of the December 2016 quarter as mining transitions into fresh ore.
The Garden Well head grade was lower than anticipated in the September 2016 quarter as mining in the Garden Well open pit produced more ounces overall than forecast but at a higher tonnage of ore at a lower grade. Accordingly, whilst this reduced the effective stripping ratio for the quarter, the lower grade ore mined impacted the processed grade for the quarter.
Despite lower production from DSO, AISC of $1,003 per ounce were only 2% higher than the previous quarter due to mining at a lower stripping ratio of 5.2 (w:o) in the September 2016 quarter compared to 6.3 in the June 2016 quarter.
A total of $4.4 million of growth capex relating to the cutback at Rosemont was incurred during the quarter.
CORPORATE
Financial Results and Dividend
In August 2016 Regis announced strong financial results for the 2016 financial year. The net profit after tax for the full year was $111.8 million, up $24.8 million (29%) on the 2015 result, which facilitated the payment of a fully franked final dividend of 9 cents per share ($45 million). The final dividend payment took total dividends paid in relation to the 2016 financial year to 13 cents per share ($65 million).
Cash Position
The Duketon project generated operating cash flow of $59.6 million in the September 2016 quarter. At the end of the quarter Regis had $103.1 million in cash and bullion, down from $123.3 million at the end of June 2016 due to the $45 million dividend payment and $5.1 million of budgeted capital spent establishing the Gloster Project which will commence production in the current quarter.
The following waterfall chart highlights the movement in the Company’s cash reserves over the quarter.
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Quarterly Report to 30 September 2016
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----- Start of picture text -----
Cash & Gold on Hand ‐ Q1 Movements
$190.0m
$59.6m
$180.0m
$170.0m
$160.0m
$150.0m
$140.0m
$130.0m $123.3m ($45.0m)
$120.0m ($13.0m)
($4.3m)
$110.0m ($6.8m) $103.2m
$100.0m ($8.5m) ($2.1m)
$90.0m
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Gold Sales & Hedging
During the September 2016 quarter, Regis sold 73,607 ounces of gold at an average price of A$1,765 per ounce (June 16 qtr: 86,539 ounces at A$1,646 per ounce). The Company took advantage of the high spot gold price during the quarter. The total hedging position at the end of the quarter was 433,770 ounces, being 60,000 ounces of flat forward contracts with a delivery price of A$1,454 per ounce and 373,770 ounces of spot deferred contracts with a price of A$1,576 per ounce.
Share Buy Back
The Company has not purchased any of its shares under the share buy-back programme announced in the June 2015 quarter and the buy-back has subsequently finished.
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Quarterly Report to 30 September 2016
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EXPLORATION
Duketon Overview
Exploration and resource development drilling programmes continued at the Duketon Gold Project with encouraging results returned from drilling at Tooheys Well, Rosemont South and Gloster. In addition, work continued on the Duketon Mining Joint Venture with air core drilling program continuing at Petra North and commencing at Commonwealth, and infill lag sampling continuing on anomalies generated by last year’s lag sampling programme.
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Drilling at Duketon during the September 2016 quarter totalled 52,262 metres as shown below:
| HoleType | No. of Holes | Total Metres |
|---|---|---|
| Aircore | 265 | 22,248 |
| Diamond | 2 | 994 |
| RC | 266 | 29,020 |
| Total | 533 | 52,262 |
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Quarterly Report to 30 September 2016
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| Project | AC | DD | RC | Total Metres |
|---|---|---|---|---|
| Beamish | - | - | 1,334 | 1,334 |
| Commonwealth | 9,674 | - | - | 9,674 |
| Erlistoun | 835 | - | 2,971 | 3,806 |
| Garden Well | - | - | 3,490 | 3,490 |
| Gloster | - | - | 3,932 | 3,932 |
| Hacks Bore | 4,385 | - | - | 4,385 |
| Mason Hill | 172 | - | - | 172 |
| McKenzie Well | 2,676 | - | - | 2,676 |
| **McPhillamys ** | - | 994 | - | 994 |
| Moolart Well | - | - | 108 | 108 |
| Petra North | 4,506 | - | - | 4,506 |
| Rosemont | - | - | 6,411 | 6,411 |
| Tooheys Well | - | - | 10,774 | 10,774 |
| Total Metres | 22,248 | 994 | 29,020 | 52,262 |
Significant exploration projects advanced during the quarter at Duketon are outlined below.
Tooheys Well Gold Project
The Tooheys Well gold prospect is located on a granted Mining Lease, 2.5km south of the Garden Well gold mine. Gold mineralisation was previously defined in two north south trending Western and Eastern shear zones 100 metres apart hosted in Banded Iron Formation (BIF), chert and fine grained sediments. The eastern shear zone mineralisation appears to have steep dip of 80-90° to the east. Host rocks are BIF/chert and shale and weathering extends to 80 to 100 metre vertical depth. Gold mineralisation is associated with pyrrhotite hosted in BIF which appears to be the dominant lithology at Tooheys Well. The pyrrhotite phase is restricted to BIF’s, and has replaced magnetite during hydrothermal alteration.
RC and diamond drilling in the March and June 2016 quarters defined high grade gold mineralisation along the Eastern shear zone and this was followed-up with further RC infill and extensional drilling in the September 2016 quarter.
A maiden Inferred Mineral Resource Estimate (MRE) was estimated during the quarter at a 0.4g/t gold lower cut for the Tooheys Well gold deposit as follows:
| Tonnes (Mt) |
Grade (g/t) |
Ounces (‘000) |
|
|---|---|---|---|
| Tooheys Well Inferred Resource |
14.6 | 1.16 | 547 |
Errors of summation may occur due to rounding
Regis has quoted the maiden Inferred MRE for the Tooheys Well Gold Project at a 0.4 g/t gold lower cut. However, it is particularly encouraging that MRE reported above a 1.0 g/t gold cut-off grade is 6.7 Mt @ 1.77 g/t. gold for 379,000 ounces. This represents 70% of the MRE with an average grade of 1.77 g/t gold and is the result of the very regular wide intercepts of high grade mineralisation encountered at Tooheys Well.
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Quarterly Report to 30 September 2016
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During the quarter a programme of 46 RC holes and 5 extended RC holes for 8,996 metres was drilled to follow-up gold mineralisation in the Eastern and Western shear zones. Significant new infill drilling results received during the quarter include:
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25m @ 2.25g/t Au from 226m in hole RRLTWRC148
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o14m @ 3.02g/t Au from 305m RRLTWRC148o7m @ 5.21g/t Au from 49m RRLTWRC154o25m @ 3.41g/t Au from 251m RRLTWRC157o15m @ 2.27g/t Au from 290m RRLTWRC157o30m @ 2.01g/t Au from 176m RRLTWRC158o30m @ 2.13g/t Au from 161m RRLTWRC167o17m @ 2.23g/t Au from 91m RRLTWRC168o32m @ 2.83g/t Au from 192m RRLTWRC171o23m @ 1.96g/t Au from 229m RRLTWRC171o11m @ 2.80g/t Au from 258m RRLTWRC171o56m @ 2.34g/t Au from 218m RRLTWRC172o2m @ 159.26g/t Au from 28m RRLTWRC182- extensional drill hole
Infill drilling during the quarter demonstrated very good gold mineralisation continuity both along strike and at depth in the Eastern shear zone which is now mineralised over a strike length in excess of 500 metres from 690900mN to 6909500mN based on a nominal 40m x 20m drilling pattern.
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Tooheys Well plan with geology and significant gold intercepts along the western and eastern mineralised shear zones. Earlier drilling results in grey and September 2016 quarter highlights drilling in gold.
Extensional Drilling and Surveys
As previously reported the current known mineralisation at Tooheys Well covers a strike length of in excess of 500 metres. It is interpreted to have potential continuations:
- to the north where the Tooheys Well Eastern shear is interpreted to join with the gold mineralised shear zones at Chert Ridge (Garden Well) approximately 2.5 km away; and
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Quarterly Report to 30 September 2016
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- to the south given the currently defined Tooheys Well mineralisation is located on the northern flank of a >1km long magnetic high (the southern half of which is under cover and has seen very little drilling deeper than 50 metres below surface) which may be indicative of continuation of the dominant host of magnetic pyrrhotite rich BIF.
No significant extensional drilling was completed to the north of Tooheys Well during the quarter. A hole (TWRC182) drilled just outside the extremity of the resource area returned 2m @159.26g/t Au from 28m downhole and 6m @ 1.61g/t. Au from 124m downhole. To the south a very limited RC programme of 9 wide spaced holes for 1,264 metres was drilled looking for extensions of the BIF hosted mineralisation. The best intercept returned was 5m @ 1.04g/t. from 63m Au in RRLTWRC0032 which was located 300m south of the extremity of the current resource. The intercept was hosted in a magnetite rich BIF.
It has been decided to refine the exploration model and targeting to the south of Tooheys Well before a more detailed follow up drill programme is executed. A selection of core samples were submitted for petro-geophysical testwork to determine the optimal geophysical method to distinguish between magnetic high grade pyrrhotite mineralisation and magnetic lower grade magnetite hosted mineralisation. As the pyrrhotite mineralisation is quite conductive and the magnetite mineralisation is not, the search for further high grade pyrrhotite mineralisation looks to best served by a surface Electro Magnetic (EM) survey that covers the Tooheys Well deposit and extends up to Garden Well to the north and 2 kilometres to the south covering the large magnetic anomaly seen on the following plan.
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Tooheys Well Regional plan with magnetics and significant gold intercepts below 50m depth.
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Quarterly Report to 30 September 2016
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It is expected that the EM survey will be completed in December 2016 quarter, followed by analysis and then targeted drilling.
Four lines of drilling on 80 metre spacings along strike for 22 RC holes is planned for the December 2016 quarter to test along strike from Tooheys Well to the north where the Eastern Shear is interpreted to join with the gold mineralised shear zones at Chert Ridge.
Rosemont South Gold Project
The Rosemont South Gold Prospect is located directly south of the current Rosemont Open Pit Mine, within the current resource envelope but with some areas, mainly at depth, outside the current reserves. It represents a strong target area to add both an open pit and underground mining inventory.
The geology at Rosemont has gold hosted in a steeply east dipping 345° trending quartz-dolerite unit intruding in an ultramafic sequence. Gold mineralisation is associated with quartz-carbonate-chloritesulphide alteration and is restricted to the quartz-dolerite unit which is approximately 80m wide.
An RC drill programme undertaken by the Rosemont operations team during the quarter at Rosemont South aimed to test the close-range continuity of the interpreted high-grade ore shoots over a strike length of 500 metres in and beyond the current southern limit of the Main Pit. The known high grade ore shoots lie between 50-300 metres below surface.
Drilling is designed to test for both open pit and potential underground mine extensions. Hole depths range from 60 metres to 360 metres. All holes were planned to test the entire width of the quartz dolerite unit. There remains approximately 10 holes for 2,000m metres of drilling to complete phase 1 of the Rosemont South drill program which is expected to be completed in the current quarter. A second phase of drilling (12 holes for 3,890m) is planned to commence later this quarter.
A total of 47 holes were drilled for 4,643 metres over a strike distance of 500 metres. Significant results returned in the September 2016 quarter include:
o 10m @ 30.11g/t Au from 48m in hole RRLRMRC366 o 4m @ 7.72g/t Au from 52m RRLRMRC368 o 13m @ 2.61g/t Au from 126m RRLRMRC418 (outside reserve) o 17m @ 4.41g/t Au from 153m RRLRMRC420 (outside reserve) o 29m @ 3.81g/t Au from 175m RRLRMRC420 (outside reserve) Including:
5m @ 8.54g/t Au from 175m (outside reserve) 6m @ 4.95g/t Au from 188m (outside reserve) 3m @ 6.92g/t Au from 201m (outside reserve) o 9m @ 3.60g/t Au from 107m RRLRMRC428
Current quarter and selected historical drilling are shown on the following long section:
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Quarterly Report to 30 September 2016
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A cross section showing some of the September 2016 drill intercepts is shown below.
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Quarterly Report to 30 September 2016
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On completion and assessment of the phase 1 drilling programme results, a phase 2 RC program at Rosemont South is expected to commence late this quarter. Again the objective will be to define both potential open pit and underground resources up to 500 metres from the existing Rosemont open pit.
Rosemont Main Pit Underground Resource Drilling
In addition to the drill programme at the southern end of the Rosemont Open Pit, a second RC drill programme has commenced since the end of the quarter to test for underground mineralisation below the centre of the main pit where numerous high grade intercepts were recorded during exploration resource development programmes prior to mining. This programme will also leverage off the knowledge of the structural orientation and controls over high grade zones of mineralisation seen in grade control drilling in the open pit workings immediately above the targeted underground areas.
Phase 1 of the Rosemont Main pit underground drill programme consists of 62 holes for 13,610m and is planned to be drilled from inside the Rosemont Open pit. Drilling from within the open pit considerably shortens the depth of holes required to test 100-200m vertically below the final pit. Shorter holes also allow the use of RC rigs rather than diamond drill rigs. As the drill programme must fit in with current operations, the duration of the drill programme may extend over this current quarter and the next.
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3D long section from south east showing planned Rosemont South & Main drilling, phase 1 and 2
Gloster Gold Project
The Gloster gold deposit is located 26km west of Moolart Well and was acquired by Regis in the June 2015 quarter. Gloster was historically mined from 1902-1908 and was extensively drilled from 19841996. An updated Resource estimate and maiden Ore Reserve estimate of 226,000 ounces of gold was completed at Gloster during the March 2016 quarter.
During the September 2016 quarter several RC drilling programmes for a total of 42 holes for 3,932 metres were completed. Drilling targeted waste dump sterilisation, main pit infill and extensional drill programmes to the north and south of known mineralisation.
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Quarterly Report to 30 September 2016
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Gold results received from the extensional drilling programme include:
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2m @ 11.56g/t Au from 44m in hole RRLGLRC312
-
o10m @ 3.95g/t Au from 19m RRLGLRC313
The results will be interpreted to test the potential for economic gold mineralisation east of the current pit design.
McPhillamys Gold Project NSW
The 100% owned McPhillamys Project is one of Australia’s larger undeveloped open pittable gold resource and is located approximately 250km west of Sydney NSW in a well-established mining district. Regis has estimated a MRE of 73.2Mt @ 0.94g/t. Au for 2.2Moz at a 0.4 g/t Au cut-off grade.
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McPhillamys Gold Project and NSW Exploration leases location.
An RC/ DD drill programme commenced at the McPhillamys Gold Project at the end of the September 2016 quarter. The aim of the 25,000 metre programme is to infill the current drill pattern to a nominal 50 x 25m spacing for an update to the MRE and ultimately to be used as a basis for a reserve estimation. It is also designed to look for high grade extensions to the mineralisation at depth.
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Quarterly Report to 30 September 2016
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McPhillamys Gold Project Cross Section 6292400mN.
At present two diamond rigs are on site with an RC rig expected to be added this quarter once the weather improves. A total of 2 holes were drilled for 942 metres. Due to weather restrictions on drill pad access only two holes were able to be drilled during the quarter and were at the edge of known mineralisation.
The planned drilling programme will also be utilised to provide diamond core for further metallurgical and geotechnical studies. The drill programme is anticipated to take 5-6 months to complete.
Duketon Gold Exploration Joint Venture (Regis Earning 75%)
Lag Sampling (E38/2231, 2666, 2699, 2737)
A total of 587 (-6+2mm) infill lag soil samples were collected in the September 2016 quarter on the Duketon Gold Exploration JV tenements to complete the geochemical survey programme. The infill lag sampling across mineralised trends was completed on a 100m x 50m grid to follow up anomalies highlighted in the first pass lag sampling program completed in 2015.
Gold and pathfinder element results have been received for all of the samples collected. Contouring of gold results has been completed. Numerous +75ppb Au gold anomalies of interest have been defined that require further investigation and follow up Air Core drilling is underway as outlined below.
Petra North
The Petra North project is located immediately adjacent to Regis’ 100% owned Petra project which has a reported JORC 2012 Resource of 44,000 ounces. A follow up air core drill programme was designed to test intercepts received in the first air core program last quarter. 46 AC holes have been completed for 4,506 metres.
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Quarterly Report to 30 September 2016
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Gold results received from this drilling programme include:
-
3m @ 6.12g/t Au from 64m in hole RRLPTRAC559
-
o3m @ 11.72g/t Au from 74m RRLPTRAC560o2m @ 11.03g/t Au from 62m RRLPTRAC562
Infill drilling is planned around these encouraging intercepts.
At Petra and Petra North, the basement rocks are dominated by an uninterrupted sequence of felsic and intermediate composition andesites and dacites. The volcanic rocks have been moderately to strongly metamorphosed into variably chloritised quartz sericite schists with occasional pyrite mineralisation. Weathering extends generally to between 50 and 80 metres and occasionally to in excess of 100 metres depth.
Mineralisation at Petra North appears to consist of supergene enriched gold, interpreted to be the result of complex weathering fronts around the hypogene ore.
Hacks Bore Project
The Hacks Bore Project is located 6 kilometres north along strike of Regis’ 100% owned Garden Well mining operation. A first pass broad spaced air core drill programme of 55 holes for 4,385 metres tested the Garden Well to Moolart Well shear zone located under a paleochannel for approximately 2 kilometres of strike. The programme did not return any significant assays and testing for chert hosted mineralisation east of the tested shear zone is planned for the current quarter.
Commonwealth
The Commonwealth project is located immediately 7 kilometres north of the Petra North Prospect. Lag sampling has defined a 3 kilometre (north-south) x 1.5 kilometre, +75ppb gold anomaly with peak values of +1ppm Au.
A wide spaced (circa 400m by 160m) first pass air core drill programme was designed to test the anomaly. 101 AC holes have been completed for 9,674 metres. Gold results received from this drilling programme to date include:
-
4m @ 4.07g/t Au from 56m in hole RRLCMAC024
-
o4m @ 2.08g/t Au from 56m RRLCMAC027o8m @ 1.12g/t Au from 72m RRLCMAC056o4m @ 2.65g/t Au from 56m RRLCMAC082
Follow up drilling will be assessed once all assays have been returned.
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Quarterly Report to 30 September 2016
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COMPETENT PERSON STATEMENT
The information in this report that relates to exploration results is based on and fairly represents information and supporting documentation that has been compiled by Mr Peter Woodman who is a member of the Australian Institute of Mining and Metallurgy. Mr Woodman has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the ‘Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Woodman is a full time employee of Regis Resources Ltd and consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
The information in this report that relates to the Company’s Resources and Ore Reserves is extracted from the ASX announcement released on 7 July 2016 entitled “Mineral Resource and Ore Reserve Statement as at 31 March 2016” and for which Competent Person’s consents were obtained.
The information in this report that relates to the Tooheys Well Resource is extracted from the ASX announcement released on 29 July 2016 entitled “Maiden Resource of 547,000 Ounces at Tooheys Well Gold Deposit” and for which Competent Person’s consents were obtained.
The reports are available to view on the ASX website and on the Company’s website at www.regisresources.com.au. The Company confirms it is not aware of any new information or data that materially affects the information included in the original market announcement, and, in the case of estimates of Mineral Resources and Ore Reserves, that all market assumptions and technical assumptions underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.
The Competent Person’s consents remain in place for subsequent releases by the Company of the same information in the same form and context, until the consent is withdrawn or replaced by a subsequent report and accompanying consent.
FORWARD LOOKING STATEMENTS
This ASX announcement may contain forward looking statements that are subject to risk factors associated with gold exploration, mining and production businesses. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a variety of variables and changes in underlying assumptions which could cause actual results or trends to differ materially, including but not limited to price fluctuations, actual demand, currency fluctuations, drilling and production results, Reserve estimations, loss of market, industry competition, environmental risks, physical risks, legislative, fiscal and regulatory changes, economic and financial market conditions in various countries and regions, political risks, project delay or advancement, approvals and cost estimates.
Forward-looking statements, including projections, forecasts and estimates, are provided as a general guide only and should not be relied on as an indication or guarantee of future performance and involve known and unknown risks, uncertainties and other factors, many of which are outside the control of Regis Resources Ltd. Past performance is not necessarily a guide to future performance and no representation or warranty is made as to the likelihood of achievement or reasonableness of any forward looking statements or other forecast.
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CORPORATE DIRECTORY
Regis Resources Ltd ( ACN 009 174 761)
Registered Office
First Floor, 1 Alvan Street Subiaco, WA Australia 6008 Tel +618 9442 2200 Fax +618 9442 2290
Website www.regisresources.com Email [email protected]
Directors
Mr Mark Clark (Executive Chairman) Mr Paul Thomas (Executive Director) Mr Mark Okeby (Non-Executive Deputy Chairman) Mr Ross Kestel (Non-Executive Director) Mr James Mactier (Non-Executive Director)
Company Secretary and CFO
Mr Kim Massey
Share Registry
Computershare Ltd GPO Box D182 Perth WA 6840
Shareholder Enquiries: 1300 557 010 (local) +613 9415 4000 (international)
ASX Listed Securities (as at 30 September 2016)
| Security | Code | No. Quoted | |
|---|---|---|---|
| Ordinary Shares | RRL | 500,979,274 |
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APPENDIX 1
JORC Code, 2012 Edition – Table 1 report template
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
| Criteria | JORC Code explanation | Commentary | |
|---|---|---|---|
| Sampling techniques |
Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These |
Gloster: The Gloster gold deposit was sampled using Reverse Circulation (RC) drill holes on a nominal 25m east by 25m north initial grid spacing which were drilled angled -60 degrees to 244 degrees azimuth. |
|
| examples should not be taken as limiting the broad meaning of | Rosemont South: | ||
| sampling. | The Rosemont gold deposit was sampled using Reverse Circulation (RC) drill holes on a nominal 20m east by 20m north initial grid spacing angled -60 degrees |
||
| to 254 degrees. | |||
| Petra North, Hacks Bore & Commonwealth: | |||
| The Petra North & Commonwealth Prospects were sampled using Air Core (AC) | |||
| drill holes with the majority of holes on a nominal 100m (400m for Commonwealth) | |||
| east by 160m north initial grid spacing, which were drilled angled -60 degrees at | |||
| 090 azimuth. | |||
| Tooheys Well: | |||
| The Tooheys Well gold prospect was sampled using Reverse Circulation (RC), | |||
| drill holes on a nominal 20m east spaced holes on 40m north and 80m north initial | |||
| grid spacing, which were drilled angled -60 degrees to 270 degrees. | |||
| McPhillamys: | |||
| The McPhillamys gold deposit was sampled using Diamond Drilling (DD) drill holes | |||
| on a nominal 25m east by 50m north initial grid spacing, which were drilled angled | |||
| -60 degrees to 270 degrees azimuth. | |||
| Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. |
All Projects: Regis drill hole collar locations were picked up by site-based authorised surveyors using Trimble RTK GPS. Downhole surveying was measured by using either a Reflex EZ-Shot Downhole Survey Instrument or North Seeking Gyro based tool |
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| Criteria | JORC Code explanation | Commentary | |
|---|---|---|---|
| where magnetic host rock would affect azimuth readings. The surveys were | |||
| completed every 30m down each drill hole. | |||
| Core is aligned and measured by tape, comparing back to down hole core blocks | |||
| consistent with industry practice. | |||
| Regis drill hole sampling had certified standards and blanks inserted every 25th | |||
| sample to assess the accuracy and methodology of the external laboratories, and | |||
| field duplicates (RC only) were inserted every 20th sample to assess the | |||
| repeatability and variability of the gold mineralisation. Laboratory duplicates were | |||
| also completed approximately every 15th sample to assess the precision of the | |||
| laboratory as well as the repeatability and variability of the gold mineralisation. | |||
| Results of the QAQC sampling were considered acceptable for an Archaean gold | |||
| deposit. | |||
| Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was |
Gloster, Rosemont South, Petra North, Hacks Bore, Commonwealth & Tooheys Well: For the Regis RC and AC drilling 1m samples were obtained by cone splitter (2.5kg – 3.0kg) and were utilised for lithology logging and assaying. The drilling samples were dried, crushed and pulverised to get 85% passing 75µm and were all Fire |
||
| pulverised to produce a 30 g charge for fire assay’). In other cases, | Assayed using a 50g charge (SGS, Bureau Veritas, Min Analytical and Aurum). | ||
| more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or |
4m field composites were sampled using a spear on the individual 1m samples at Hacks Bore and Commonwealth. |
||
| mineralisation types (e.g. submarine nodules) may warrant | McPhillamys diamond: | ||
| disclosure of detailed information. | Diamond drilling completed to industry standard using varying sample lengths (0.3 | ||
| to 1.2m) based on geological intervals, which are then dried, crushed and | |||
| pulverised to get 85% passing 75µm and were all Fire Assayed using a 50g charge | |||
| (ALS-Orange). | |||
| Drilling techniques |
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 standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc). |
Gloster, Rosemont South, Petra North, Hacks Bore, Commonwealth & Tooheys Well: RC drilling completed with a 139mm diameter face sampling hammer AC drilling was completed with an 89mm diameter AC blade bit. |
|
| McPhillamys diamond: | |||
| Surface diamond drilling carried out by using both NQ3 or HQ32 (triple tube) and | |||
| NQ2 or HQ2 (standard tube) techniques. | |||
| Core is routinelyorientated byREFLEX ACT III tool. |
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| Criteria | JORC Code explanation | Commentary | |
|---|---|---|---|
| Drill sample recovery |
Method of recording and assessing core and chip sample recoveries and results assessed. |
Gloster, Rosemont South, Petra North, Hacks Bore, Commonwealth & Tooheys Well: RC and AC recovery was visually assessed, with recovery being excellent except |
|
| in some wet intervals which are recorded on logs. <1% of the overall mineralised | |||
| zones have been recorded as wet. | |||
| McPhillamys diamond: | |||
| DD core was measured and compared to the drilled intervals, and recorded as a | |||
| percentage recovery | |||
| Measures taken to maximise sample recovery and ensure representative nature of the samples. |
Gloster, Rosemont South, Petra North, Hacks Bore, Commonwealth & Tooheys Well: RC and AC samples were visually checked for recovery, moisture and |
||
| contamination. The drilling contractor utilised a cyclone and splitter to provide | |||
| uniform sample size, and these were cleaned routinely (cleaned at the end of each | |||
| rod and more frequently in wet conditions). A booster was also used in conjunction | |||
| with the RC drill rig to ensure dry samples are achieved. | |||
| McPhillamys diamond: | |||
| The target zones ranged from oxidised rock near surface where recoveries were | |||
| lower to highly competent fresh rock, where the DD method provided high | |||
| recovery. | |||
| Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. |
Gloster, Rosemont South, Petra North, Hacks Bore, Commonwealth &Tooheys Well: Sample recoveries for RC and AC drilling are visually estimated to be medium to high. No significant bias is expected although no recovery and grade correlation |
||
| study was completed. | |||
| McPhillamys diamond: | |||
| The DD drill sample recovery in the transitional and fresh rock zones is very high, | |||
| and no significant bias is expected. Recoveries in the oxidised rock were lower. | |||
| Logging | Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate |
Gloster, Rosemont South, Petra North, Hacks Bore, Commonwealth &Tooheys Well: Lithology, alteration, veining, mineralisation and, on some holes, magnetic |
|
| susceptibility were logged from the RC chips and saved in the database. Chips |
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| Criteria | JORC Code explanation | Commentary | |
|---|---|---|---|
| Mineral Resource estimation, mining studies and metallurgical studies. |
from every interval are also placed in chip trays and stored in a designated building at site for future reference. |
||
| McPhillamys diamond: | |||
| Lithology, alteration, veining, mineralisation and geotechnical information were | |||
| logged from the DD core and saved in the database. Half core from every interval | |||
| are also retained in the core trays and stored in a designated building at site for | |||
| future reference. | |||
| Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. |
All logging is qualitative except for magnetic susceptibility and geotechnical measurements. Wet and dry photographs were completed on the core. |
||
| The total length and percentage of the relevant intersections | All drill holes are logged in full. | ||
| logged. | |||
| Sub- sampling techniques and sample |
If core, whether cut or sawn and whether quarter, half or all core taken. |
McPhillamys diamond: Core was half cut with a diamond core saw with the same half always sampled and the surplus retained in the core trays. Non-competent clay zones are sampled as whole core where necessary due to difficulty in cutting. |
|
| preparation | |||
| If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. |
The RC and AC drilling utilised a cyclone and cone splitter to consistently produce 0.5kg to 3.0kg dry samples. |
||
| For all sample types, the nature, quality and appropriateness of the sample preparation technique. |
Samples are dried, crushed to 10mm, and then pulverised to 85% passing 75µm (industry standard practice is assumed for the historical drilling). This is considered acceptable for an Archaean gold deposit. |
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| Criteria | JORC Code explanation | Commentary | |
|---|---|---|---|
| Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. |
Field duplicates (RC, AC) were inserted every 20th sample to assess the repeatability and variability of the gold mineralisation. Laboratory duplicates were also completed roughly every 15th sample to assess the repeatability and |
||
| variability of the gold mineralisation. | |||
| Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. |
Field RC duplicates (RC, AC) were taken at the rig from a second chute on the cone splitter allowing for the duplicate and main sample to be the same size and sampling technique. Field duplicates are taken every 20th sample. Laboratory duplicates (sample preparation split) were also completed roughly every 15th |
||
| sample. | |||
| Field duplicates on core, i.e. other half of cut core, have not been routinely | |||
| assayed. | |||
| Whether sample sizes are appropriate to the grain size of the material being sampled. |
Sample sizes (1.0kg to 3kg) are considered to be a sufficient size to accurately represent the gold mineralisation based on the mineralisation style (hypogene) associated with shearing and supergene enrichment), the width and continuity of |
||
| the intersections, the sampling methodology, the coarse gold variability and the | |||
| assay ranges for the gold. | |||
| Field duplicates have routinely been collected to ensure monitoring of the sub- | |||
| sampling quality. Acceptable precision and accuracy is noted in the field | |||
| duplicates albeit the precision is marginally acceptable and consistent with a | |||
| coarse gold Archaean gold deposit. | |||
| Quality of assay data and laboratory |
The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. |
Gloster, Rosemont South, Petra North, Hacks Bore, Commonwealth &Tooheys Well: All gold assaying was completed by external commercial laboratories (SGS, Bureau Veritas, Min Analytical and Aurum) using either a 40g or 50g charge for fire assay analysis with AAS finish. This technique is industry standard for gold |
|
| tests | and considered appropriate. | ||
| McPhillamys diamond: | |||
| All gold assaying will be completed by commercial laboratories (ALS-Orange, | |||
| NSW) using either a 40g or 50g charge for fire assay analysis with AAS finish. | |||
| This technique is industry standard for gold and considered appropriate. |
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| Criteria | JORC Code explanation | Commentary | |
|---|---|---|---|
| For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. |
Gloster, Rosemont South, Petra North, Hacks Bore, Commonwealth &Tooheys Well: Apart from magnetic susceptibility in targeted zones, no other geophysical measurements were routinely made. |
||
| Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established. |
Certified Reference Material (CRM or standards) and blanks were inserted every 25th sample to assess the assaying accuracy of the external laboratories. Field duplicates (RC, AC) were inserted every 20th sample to assess the repeatability from the field and variability of the gold mineralisation. Laboratory duplicates were also completed approximately every 15th sample to assess the precision of |
||
| assaying. | |||
| Evaluation of both the Regis submitted standards, and the internal laboratory | |||
| quality control data, indicates assaying to be accurate and without significant drift | |||
| for significant time periods. Excluding obvious errors, the vast majority of the CRM | |||
| assaying report shows an overall mean bias of less than 5% with no consistent | |||
| positive or negative bias noted. Duplicate assaying show high levels of correlation | |||
| and no apparent bias between the duplicate pairs. Field duplicate samples show | |||
| marginally acceptable levels of correlation and no relative bias. | |||
| Results of the QAQC sampling were considered acceptable for an Archaean gold | |||
| deposit. Substantial focus has been given to ensuring sampling procedures met | |||
| industry best practise to ensure acceptable levels of accuracy and precision were | |||
| achieved in a coarse gold environment. | |||
| Verification of sampling and assaying |
The verification of significant intersections by either independent or alternative company personnel. |
No independent personnel have visually inspected the significant intersections in RC chips. Numerous highly qualified and experienced company personnel from exploration and production positions have visually inspected the significant intersections in RC chips. |
|
| The use of twinned holes. | Petra North, Hacks Bore and Commonwealth: | ||
| No twinning of holes was completed at this stage. |
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| Criteria | JORC Code explanation | Commentary | |
|---|---|---|---|
| Gloster, Rosemont South, &Tooheys Well: | |||
| The spatial location and assaying accuracy of historical drilling was confirmed with | |||
| RC and/or DD twin holes. The Regis RC drilling spatial location and assaying | |||
| accuracy was also twinned by Regis DD holes. | |||
| Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. |
All geological and field data is entered into excel spreadsheets with lookup tables and fixed formatting (and protected from modification) thus only allowing data to be entered using the Regis geological code system and sample protocol. Data is |
||
| then emailed to the Regis database administrator for validation and importation | |||
| into a SQL database using Datashed. | |||
| Discuss any adjustment to assay data. | Any samples not assayed (i.e. destroyed in processing, listed not received) have had the assay value converted to a -9 in the database. Any samples assayed |
||
| below detection limit (0.01 ppm Au) have been converted to 0.005 ppm (half | |||
| detection limit) in the database. | |||
| Location of data points |
Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. |
Regis drill hole collar locations were picked up by site-based authorized surveyors using Trimble RTK GPS, calibrated to a base station (expected accuracy of 20mm). |
|
| Downhole surveying was measured by using either a Reflex EZ-Shot Downhole | |||
| Survey Instrument or North Seeking Gyro based tool where magnetic host rock | |||
| would affect azimuth readings | |||
| The surveys were completed every 30m down each drill hole. | |||
| Specification of the grid system used. | The grid system is and AMG Zone 51 (AGD 84) for surveying pickups, as well as any modelling at Coopers, Gloster and Tooheys Well. Modelling at Baneygo and |
||
| Idaho is completed using a local grid, with conversion of digital data from AMG to | |||
| local completed using macros. | |||
| McPhillamys | |||
| The grid system is and GDA94 Zone 55 for surveying pickups, as well as any | |||
| modelling. | |||
| Quality and adequacy of topographic control. | The topographic surface for all projects were derived from a combination of the primary drill hole pickups and the pre-existing photogrammetric contouring. |
||
| Data spacing for reporting of Exploration Results. | Gloster: |
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| Criteria | JORC Code explanation | Commentary | |
|---|---|---|---|
| Data | The drilling completed this period reduced the effective spacing to 25 metres (east) | ||
| spacing and | by 25 metres (north) to a depth of 100 metres from surface. | ||
| distribution | |||
| Rosemont South: | |||
| The drilling completed this period is the start of reducing the effective spacing to | |||
| 20 metres (east) by 20 metres (north) to a depth of 300 metres from surface. | |||
| Petra North, Hacks Bore and Commonwealth: | |||
| The initial reconnaissance AC drill hole spacing was ranged from 160-400m | |||
| (northing) by 160m (easting). The drilling depth was generally to blade refusal i.e. | |||
| top of fresh rock. | |||
| Tooheys Well: | |||
| The infill drilling completed this period reduced the effective spacing to 20 metres | |||
| (east) by 20 metres (north) to a depth of 250 metres from surface in selected parts | |||
| of the deposit. | |||
| McPhillamys: | |||
| Current plan is to reduce sample spacing to 25mx25m in selected parts of the | |||
| deposit | |||
| Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and |
Gloster, Rosemont South, Tooheys Well & McPhillamys: The planned data spacing and distribution is sufficient to demonstrate spatial and grade continuity of the mineralised domains to support the definition of Inferred and Indicated Mineral Resources under the 2012 JORC code once all other |
||
| classifications applied. | modifying factors have been addressed. | ||
| Petra North, Hacks Bore & Commonwealth: | |||
| The data spacing and distribution is sufficient to for a reconnaissance exploration | |||
| drilling program designed to test for extensions to known mineralisation to the | |||
| south | |||
| Whether sample compositing has been applied. | Gloster, Rosemont South, Petra North, Commonwealth, Tooheys Well & McPhillamys: |
||
| No sample compositing has been applied in the field within the mineralised zones. | |||
| Petra North, Hacks Bore & Commonwealth: | |||
| 4m compositing was used in the wider spaced drill programmes. |
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| Criteria | JORC Code explanation | Commentary | |
|---|---|---|---|
| Orientation of data in relation to |
Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. |
Drilling is orientated to best suit the mineralisation to be closely perpendicular to both the strike and dip of the mineralisation. Intercepts are close to true-width in most cases. See cross section diagrams |
|
| geological | |||
| structure | If the relationship between the drilling orientation and the orientation | It is not believed that drilling orientation has introduced a sampling bias. | |
| of key mineralised structures is considered to have introduced a | |||
| sampling bias, this should be assessed and reported if material. | |||
| Sample security |
The measures taken to ensure sample security. | Samples are securely sealed and stored onsite, until delivery to Perth via contract freight Transport, who then deliver the samples directly to the laboratory. Sample submission forms are sent with the samples as well as emailed to the laboratory, |
|
| and are used to keep track of the sample batches. | |||
| McPhillamys | |||
| Samples are securely sealed and stored onsite, until pickup by ALS truck and | |||
| delivery to Orange laboratory. Sample submission forms are sent with the samples | |||
| as well as emailed to the laboratory, and are used to keep track of the sample | |||
| batches. | |||
| Audits or reviews |
The results of any audits or reviews of sampling techniques and data. |
Gloster, Rosemont South, Petra North, Hacks Bore, Commonwealth, Tooheys Well & McPhillamys: No external audits on samplingtechniques and data have been completed. |
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Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
| Criteria | JORC Code explanation | Commentary | |
|---|---|---|---|
| Mineral tenement and land tenure |
Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, |
Gloster: The Gloster deposit is located on the recently granted tenement M38/1268, an area of 905.29ha. |
|
| status | historical sites, wilderness or national park and environmental | Normal Western Australian state royalties apply and a further royalty of between | |
| settings. | A$10-$100/troy ounce dependant on the gold price (A$) is payable on a quarterly | ||
| The security of the tenure held at the time of reporting along with | basis to a third party. | ||
| any known impediments to obtaining a licence to operate in the | Current registered holder of the tenement is Regis Resources Limited. There are | ||
| area. | no registered Native Title Claims. | ||
| Rosemont South:The Rosemont South prospect is located on (M38/250). | |||
| Current registered holders of the tenements are Regis Resources Ltd & Duketon | |||
| Resources Pty Ltd (100% subsidiary of Regis Resources). Area = 159ha. Normal | |||
| Western Australian state royalties apply plus there is a 2% Royalty to Franco | |||
| Nevada. There are no registered Native Title Claims. | |||
| Petra North: | |||
| The Petra North prospect is E38/2737–57 blocks (actual 13,068.1127ha). Owner | |||
| is Duketon Mining Ltd. Native title claimant– Wutha (WC1999/010) – partial | |||
| 62.47ha. | |||
| Hacks Bore | |||
| The Hacks Bore prospect is E38/2666 blocks (actual 6160ha). Owner is Duketon | |||
| Mining Ltd. There are no registered Native Title Claims | |||
| Commonwealth: | |||
| The Commonwealth prospect is E38/2231–?? blocks (actual 3080ha). Owner is | |||
| Duketon Mining Ltd. There are no registered Native Title Claims. | |||
Tooheys Well: |
|||
| The Tooheys Well prospect comprises M38/1251, an area of 9.109 km2 (910.90 | |||
| hectares). Normal Western Australian state royalties applyand a further 2% NSR |
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| Criteria | JORC Code explanation | Commentary | |
|---|---|---|---|
| royalty exists to a third party. Current registered holders of the tenements are | |||
| Regis Resources Ltd and Duketon Resources Pty Ltd (100% subsidiary of Regis | |||
| Resources). There are no registered Native Title Claims. | |||
| McPhillamys | |||
| The McPhillamys deposit is located on the recently granted tenement EL5760 | |||
| granted in 2000., Lease area = 11,760Ha. Current registered holder of the | |||
| tenement is LFB Resources NL (100% subsidiary of Regis Resources). Normal | |||
| NSW state royalties apply. There are no registered Native Title Claims. | |||
| Exploration done by other parties |
Acknowledgment and appraisal of exploration by other parties. | Gloster: Gloster was discovered in 1902, with no modern exploration work completed until Hillmin Gold Mines Pty Ltd and Aurotech NL conducted mapping, RC drilling, DD and RAB in the mid 1980’s, culminating in Resource Estimates and feasibility |
|
| studies. Leader Resources NL conducted some RC and DD drilling in 1991 before | |||
| Maiden Gold NL purchase the project in 1994, completing more RC, DD and RAB | |||
| drilling. In 1995 Johnsons Well Mining acquired the tenements and completed | |||
| more RC, DD and RAB drilling to infill and extend the Resource. | |||
| Petra North:Shallow drilling (less than 100m vertical depth) completed by | |||
| Goldconda 1986 – 1988, Johnsons Well Mining NL 1995 – 1997. | |||
| Rosemont South: | |||
| Shallow drilling (less than 100m vertical depth) completed by Aurora, Ashton and | |||
| Johnsons Well Mining in the 1990’s. | |||
| Tooheys Well: | |||
| Minor amounts of drilling by Ashton and Johnsons Well Mining was completed | |||
| although it was mainly shallow and not extensive enough to properly define the | |||
| mineralisation. | |||
| McPhillamys | |||
| Resource development drilling conducted by Newmont and then Alkane | |||
| Resources in the 1990’s | |||
| Geology | Deposit type, geological setting and style of mineralisation. | Gloster: Gold mineralisation at Gloster is within a NW-SE trending, east dipping shear zone |
|
| and associated with flat to moderatelyeast dipping quartz veins hosted in felsic |
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| Criteria | JORC Code explanation | Commentary | |
|---|---|---|---|
| volcanics. A 5m transported cover sequence conceals the gold mineralisation and | |||
| weathering extends up to 100m depth. Intensive gold leaching has occurred in the | |||
| uppermost 15m of the weathering profile. | |||
| Rosemont South: | |||
| The geology is similar to Rosemont with gold hosted in a steeply east dipping 345° | |||
| trending quartz-dolerite unit intruding an ultramafic sequence. Gold mineralisation | |||
| is associated with quartz-carbonate-chlorite-sulphide alteration and is restricted to | |||
| the quartz dolerite unit which is generally approximately 80m wide. Weathering | |||
| depths vary from 20m to 50m vertical depth. | |||
| Hacks Bore: | |||
| Geology at Hacks Bore appears to consist of sheared ultramafics. A 15m to 20m | |||
| transported cover sequence conceals the shear zone target and weathering | |||
| extends up to 100m depth. Drilling to date has tested for gold mineralisation in | |||
| the oxide zone | |||
| Petra North and Commonwealth: | |||
| Gold mineralisation at Petra North and Commonwealth appears to consist of | |||
| supergene enriched gold, interpreted to be the result of complex weathering fronts | |||
| around the hypogene ore in quartz sericite schists. | |||
| Tooheys Well: | |||
| The gold mineralisation is hosted in a vertical dipping North-South trending | |||
| Banded Iron Formation (BIF). Gold mineralisation is associated with sulphides | |||
| (Pyrrhotite) replacing magnetite in the BIF. Weathering depths vary from 20m to | |||
| 70m vertical depth. | |||
| Drill hole | A summary of all information material to the understanding of the | Refer to body of announcement. |
|
| Information | exploration results including a tabulation of the following information | ||
| for all Material drill holes: | |||
| easting and northing of the drill hole collar | |||
| elevation or RL (Reduced Level – elevation above sea level in | |||
| metres) of the drill hole collar |
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| Criteria | JORC Code explanation | Commentary | |
|---|---|---|---|
| dip and azimuth of the hole | |||
| down hole length and interception depth | |||
| hole length. | |||
| If the exclusion of this information is justified on the basis that the | |||
| information is not Material and this exclusion does not detract from | |||
| the understanding of the report, the Competent Person should | |||
| clearly explain why this is the case. | |||
| Data aggregation methods |
In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be |
Reported intercepts include a minimum of 0.5 g/t Au value over a minimum distance of 1m with a maximum 2m consecutive internal waste. No upper cuts have been applied. |
|
| stated. | |||
| Where aggregate intercepts incorporate short lengths of high grade | |||
| results and longer lengths of low grade results, the procedure used | |||
| for such aggregation should be stated and some typical examples | |||
| of such aggregations should be shown in detail. | |||
| The assumptions used for any reporting of metal equivalent values | |||
| should be clearly stated. | |||
| Relationship between mineralization widths and intercept |
These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. |
Gloster: The Gloster drill holes were drilled at -60º to 244° and the mineralised zone is moderately dipping to the northeast. The intercepts reported are close to true width. Rosemont South: |
|
| lengths | If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’). |
The Rosemont South drill holes were drilled at -60º to 254° and the mineralised zone is sub-vertical. The intercepts reported are close to true width in some cases, and are not true width where the mineralisation is steepest. |
|
| Tooheys Well: |
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Quarterly Report to 30 September 2016
==> picture [125 x 37] intentionally omitted <==
| Criteria | JORC Code explanation | Commentary | |
|---|---|---|---|
| The Tooheys Well drill holes were drilled at -60º to 270° and the mineralised zone | |||
| is moderately east dipping. The intercepts reported are close to true width. | |||
| Petra North, Hacks Bore & Commonwealth: | |||
| The holes at which were drilled angled -60 degrees at 090 azimuths. The | |||
| intercepts reported are close to true width. | |||
| McPhillamys: | |||
| The holes at were drilled at -60º to 270° and the mineralised zone is steeply east | |||
| dipping. The intercepts reported are can overstate true widths-see cross section | |||
| supplied. | |||
| Diagrams | Appropriate maps and sections (with scales) and tabulations of | Refer to the body of the announcement. | |
| intercepts should be included for any significant discovery being | |||
| reported These should include, but not be limited to a plan view of | |||
| drill hole collar locations and appropriate sectional views. | |||
| Balanced | Where comprehensive reporting of all Exploration Results is not | A list of all holes drilled during the quarter attached. | |
| reporting | practicable, representative reporting of both low and high grades | ||
| and/or widths should be practiced to avoid misleading reporting of | |||
| Exploration Results. | |||
| Other substantive exploration |
Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk |
Rosemont South, Petra North, Hacks Bore, Commonwealth, McPhillamys and Tooheys Well: No other material exploration data to report. |
|
| data | samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances. |
McPhillamys: The McPhillamys diamond holes were also utilised for bulk density measurements. Geotechnical logging is in progress for determining ground conditions for open pit mining. |
|
| Further work | The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling). |
Gloster: It is expected some minor follow-up drilling will be required at Gloster in the December 2016 quarter. |
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| Criteria | JORC Code explanation | Commentary | |
|---|---|---|---|
| Rosemont South: | |||
| Drilling will continue during the December quarter. | |||
| Tooheys Well: | |||
| Drilling will continue in the December 2016 quarter to determine the continuity of | |||
| gold mineralisation in the eastern shear zone to the south and north. | |||
| Petra North, Hacks Bore & Commonwealth: | |||
| Small follow up drill programmes are planned to follow up anomalous results | |||
| McPhillamys: | |||
| Drilling will continue during the December quarter. | |||
| Diagrams clearly highlighting the areas of possible extensions, | See diagrams in main text | ||
| including the main geological interpretations and future drilling | |||
| areas, provided this information is not commercially sensitive. |
Page 31
Quarterly Report to 30 September 2016
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APPENDIX 2
| Beamish Collar Location Intersection >1.0 ppm Au and >1g/t Au*m |
Beamish Collar Location Intersection >1.0 ppm Au and >1g/t Au*m |
|---|---|
| Hole ID X Y Z Total Depth(m) |
From (m) To (m) Interval (m) Au (ppm) |
| RRLBMRC001 6909591 436869 510 120 |
64 67 3 2.17 71 72 1 1.53 85 88 3 2.79 |
| RRLBMRC002 6909592 436909 508 144 |
51 57 6 1.09 86 87 1 1.53 |
| RRLBMRC004 6909427 436892 510 114 |
87 89 2 1.62 |
| RRLBMRC005 6909428 436932 508 138 |
105 106 1 2.72 111 114 3 1.09 118 119 1 1.17 |
| RRLBMRC006 6909266 436889 512 84 |
49 52 3 1.28 54 55 1 1.01 62 63 1 1.22 73 77 4 1.3 |
| RRLBMRC007 6909267 436927 509 102 |
90 91 1 1.79 |
| RRLBMRC008 6909591 436831 513 90 |
60 61 1 1.01 |
| RRLBMRC009 6909109 436951 508 152 |
59 60 1 1.6 |
| RRLBMRC010 6908936 436873 515 72 |
17 18 1 1.45 |
| RRLBMRC011 6908939 436913 511 108 |
1 2 1 1.16 74 79 5 1.37 |
| RRLBMRC012 6908942 436954 508 162 |
3 4 1 1.01 |
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| 5 6 1 1.12 134 135 1 1.25 |
|
|---|---|
| RRLBMRC013 6909108 436913 511 138 |
1 2 1 1.53 75 80 5 1.16 |
| Chert Ridge Collar Location | Intersection >1.0 ppm Au and >1g/t Au*m |
| Hole ID X Y Z Total Depth(m) |
From (m) To (m) Interval (m) Au (ppm) |
| RRLCERC003 6911280 437580 505 203 |
69 73 4 2.21 170 171 1 1.7 |
| Commonwealth Collar Location | Intersection >1.0 ppm Au and >1g/t Au*m |
| Hole ID X Y Z Total Depth(m) |
From (m) To (m) Interval (m) Au (ppm) |
| RRLCMAC002 6943437 424338 547 100 |
52 56 4 1.07 |
| RRLCMAC009 6943437 424826 542 104 |
64 68 4 1.29 |
| RRLCMAC019 6943997 425278 541 91 |
88 91 3 1.09 |
| RRLCMAC024 6943996 424795 542 122 |
56 60 4 4.07 |
| RRLCMAC025 6943994 424718 542 112 |
92 96 4 1.55 |
| RRLCMAC027 6943995 424558 542 95 |
56 60 4 2.08 68 72 4 1.17 |
| RRLCMAC028 6943994 424480 541 96 |
68 72 4 1.88 |
| RRLCMAC038 6944798 425468 541 116 |
44 48 4 1.41 |
| RRLCMAC042 6944797 424828 538 89 |
80 84 4 2 |
| RRLCMAC056 6945598 424613 537 98 |
72 80 8 1.12 |
| RRLCMAC067 6944798 425548 543 115 |
40 44 4 1.17 |
| RRLCMAC082 6944380 425177 542 80 |
56 60 4 2.65 |
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| RRLCMAC083 6944378 425103 542 69 |
44 48 4 1.3 |
|---|---|
| RRLCMAC096 6943992 424240 542 96 |
64 68 4 1.39 |
| Erlistoun Collar Location | Intersection >1.0 ppm Au and >1g/t Au*m |
| Hole ID X Y Z Total Depth(m) |
From (m) To (m) Interval (m) Au (ppm) |
| RRLERLRC604 6905840 434886 494 44 |
33 34 1 1.58 |
| RRLERLRC606 6905820 434867 494 53 |
23 24 1 1.48 44 45 1 3.21 |
| RRLERLRC608 6905800 434937 494 33 |
24 25 1 2.71 |
| RRLERLRC610 6905740 434924 493 34 |
22 23 1 2.87 |
| RRLERLRC611 6905720 434904 494 34 |
22 23 1 3.37 |
| RRLERLRC612 6905700 434905 494 31 |
23 27 4 3.69 |
| RRLERLRC613 6905700 434925 493 29 |
26 27 1 1.63 |
| RRLERLRC614 6905699 434945 493 29 |
24 26 2 1.19 |
| RRLERLRC616 6905680 434870 494 42 |
12 13 1 1.37 29 30 1 3.31 33 34 1 1.73 |
| RRLERLRC617 6905680 434914 494 32 |
25 26 1 1.98 |
| RRLERLRC620 6905600 434892 494 31 |
17 21 4 8.83 |
| RRLERLRC623 6905580 434851 494 47 |
10 11 1 3.9 34 35 1 1.68 |
| RRLERLRC625 6905580 434891 494 31 |
17 21 4 1.29 |
| RRLERLRC627 6905560 434855 494 47 RRLERLRC627 6905560 434855 494 47 |
6 7 1 1.5 36 38 2 6.92 |
| RRLERLRC630 6905540 434860 494 47 |
32 34 2 2.69 |
| RRLERLRC631 6905540 434880 494 38 |
22 23 1 5.31 |
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| RRLERLRC632 6905540 434900 494 31 |
0 1 1 1.17 16 19 3 2.09 |
|---|---|
| RRLERLRC633 6905519 434860 494 36 |
31 34 3 1.89 |
| RRLERLRC635 6905500 434881 494 31 |
23 26 3 2.84 |
| RRLERLRC636 6905500 434900 493 31 |
19 21 2 2.48 |
| RRLERLRC638 6905440 434811 494 119 |
46 48 2 2 |
| RRLERLRC639 6905420 434803 494 97 |
50 51 1 1.22 54 55 1 1.35 57 58 1 1.27 70 72 2 8.23 |
| RRLERLRC640 6905380 434810 493 97 |
39 41 2 1.62 51 54 3 1.19 |
| RRLERLRC641 6905340 434829 493 76 |
37 40 3 3.48 44 45 1 1 57 60 3 1.79 |
| RRLERLRC642 6905340 434890 493 51 |
25 26 1 1.88 |
| RRLERLRC643 6905320 434871 492 51 |
31 34 3 2.6 |
| RRLERLRC644 6905300 434906 492 27 |
20 21 1 1.25 |
| RRLERLRC645 6905260 434821 493 80 |
68 71 3 4.27 |
| RRLERLRC648 6905180 434803 493 102 |
33 34 1 7.18 37 43 6 1.91 47 48 1 1.22 51 55 4 4.57 61 62 1 1.45 68 69 1 1.54 75 77 2 3.36 82 83 1 1.31 |
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| RRLERLRC649 6905180 434861 493 60 |
29 30 1 8.03 35 38 3 1.42 |
|---|---|
| RRLERLRC650 6905180 434882 493 60 |
36 37 1 2.95 |
| RRLERLRC651 6905140 434791 493 84 |
44 47 3 4.22 61 65 4 2.54 |
| RRLERLRC652 6905141 434810 493 102 |
25 28 3 7.06 57 58 1 1.21 62 64 2 1.66 101 102 1 1.01 |
| RRLERLRC654 6905120 434800 493 106 |
17 19 2 1.09 37 41 4 23.18 51 55 4 1.02 64 66 2 7.58 |
| RRLERLRC656 6905061 434875 492 63 |
35 36 1 1.01 |
| RRLERLRC658 6905041 434875 492 52 |
39 40 1 3.12 |
| RRLERLRC659 6905021 434775 492 60 |
43 45 2 9.33 49 52 3 3.21 57 60 3 4.06 |
| RRLERLRC661A 6905001 434778 492 76 |
39 40 1 3.03 |
| RRLERLRC662 6905000 434864 492 60 |
42 43 1 2.51 |
| Garden Well Collar Location | Intersection >1.0 ppm Au and >1g/t Au*m |
| Hole ID X Y Z Total Depth(m) |
From (m) To (m) Interval (m) Au (ppm) |
| RRLGDWE405 6912340 437346 503 72 |
62 63 1 1.17 |
| Gloster Collar Location | Intersection >1.0 ppm Au and >1g/t Au*m |
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| Hole ID X Y Z Total Depth(m) |
From (m) To (m) Interval (m) Au (ppm) |
|---|---|
| RRLGLRC303 6951011 408650 555 66 |
27 28 1 6.24 31 32 1 2.26 |
| RRLGLRC304 6949923 408614 547 60 |
14 15 1 4.24 34 37 3 1.43 |
| RRLGLRC305 6949941 408585 548 78 |
31 32 1 1.3 |
| RRLGLRC306 6949949 408604 548 54 |
26 31 5 1.13 34 35 1 1.92 |
| RRLGLRC307 6950239 408702 550 42 |
14 15 1 1.19 |
| RRLGLRC308 6950279 408863 550 36 |
35 36 1 2.97 |
| RRLGLRC309 6950808 408701 554 54 |
29 30 1 1.7 |
| RRLGLRC310 6950816 408719 554 48 |
30 31 1 4.8 |
| RRLGLRC311 6950824 408737 554 42 |
12 13 1 4.48 25 27 2 2.2 |
| RRLGLRC312 6950834 408690 554 66 |
44 46 2 11.56 50 51 1 1.04 |
| RRLGLRC313 6950850 408726 554 66 |
3 4 1 1.51 14 16 2 3.15 19 29 10 3.95 32 36 4 2.8 46 49 3 1.23 |
| RRLGLRC314 6950864 408758 554 48 |
46 47 1 2.06 |
| RRLGLRC315 6950907 408738 555 30 |
26 27 1 1.91 |
| RRLGLRC319 6949903 408621 547 60 |
25 28 3 1.73 |
| RRLGLRC320 6949910 408636 547 78 |
35 36 1 1.65 44 45 1 1.18 |
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Quarterly Report to 30 September 2016
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| RRLGLRC321 6949877 408615 547 48 |
37 38 1 1.9 |
|---|---|
| RRLGLRC322 6949884 408630 547 66 |
49 51 2 2.14 |
| RRLGLRC323 6949893 408649 547 84 |
31 32 1 4.08 41 42 1 1.34 55 56 1 1.48 82 83 1 1.14 |
| RRLGLRC326 6950553 409491 555 90 |
20 21 1 1.03 |
| RRLGLRC332 6950195 408976 550 84 |
58 59 1 1 |
| RRLGLRC333 6950205 408999 550 90 |
46 47 1 1.26 60 62 2 1.57 82 83 1 1.49 |
| RRLGLRC335 6950150 408937 550 54 |
43 44 1 1.66 |
| RRLGLRC338 6950196 408670 549 42 |
20 21 1 1.82 26 27 1 1.06 39 40 1 1.15 |
| RRLGLRC339 6950205 408692 550 54 |
23 29 6 2.67 37 38 1 1.25 |
| RRLGLRC344 6950872 408775 555 60 |
22 23 1 2.46 |
| RRLGLRC346 6950841 408774 554 54 |
5 6 1 2.38 |
| RRLGLRC347 6950805 408763 554 54 |
29 30 1 1.71 |
| RRLGLRC350 6950222 408734 550 72 |
35 36 1 1.45 53 54 1 1.19 |
| RRLGLRC351 6950182 409010 550 90 |
75 76 1 4.32 |
| RRLGLRC353 6950066 408717 548 66 |
27 28 1 2.07 |
| RRLGLRC355 6949999 408718 548 66 |
50 51 1 1.46 |
| RRLGLRC358 6949952 408740 547 78 |
17 18 1 1.65 64 65 1 1.77 |
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Quarterly Report to 30 September 2016
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| RRLGLRC360 6949975 408791 548 108 |
31 36 5 2.83 |
|---|---|
| RRLGLRC361 6949983 408809 548 66 |
29 32 3 1.65 |
| RRLGLRC362 6949996 408836 548 66 |
49 50 1 1.18 |
| RRLGLRC363 6949895 408738 547 60 |
52 53 1 1.35 |
| RRLGLRC364 6949906 408761 547 78 |
58 59 1 1.55 |
| RRLGLRC365 6949917 408785 547 96 |
8 10 2 1.59 26 30 4 1.9 |
| RRLGLRC366 6949929 408809 547 108 |
25 26 1 2.77 33 34 1 1.83 |
| RRLGLRC367 6949938 408828 548 96 |
44 45 1 1.16 |
| RRLGLRC368 6949950 408853 548 102 |
29 30 1 1.34 39 40 1 1.36 |
| RRLGLWE021 6950864 408289 550 100 |
82 83 1 2.33 |
| McPhillamys Collar Location Hole ID X Y Z Total Depth(m) |
Intersection >1.0 ppm Au and >1g/t Au*m From (m) To (m) Interval (m) Au (ppm) |
| RRLMPDD084 6292655 716025 942 524 |
26 27 1 2.25 35 37 2 1.29 57 59 2 1.31 273 274 1 1.8 313 314 1 1.07 339 340 1 1.05 |
| RRLMPDD085 6292605 715028 946 471 |
66 67 1 1.98 |
| Petra Collar Location | Intersection >1.0 ppm Au and >1g/t Au*m |
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Quarterly Report to 30 September 2016
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| Hole ID X Y Z Total Depth(m) |
From (m) To (m) Interval (m) Au (ppm) |
|---|---|
| RRLPTRAC552 6937700 426569 539 80 |
54 55 1 2.7 62 63 1 1.11 73 74 1 2.12 |
| RRLPTRAC553 6937701 426548 539 91 |
86 87 1 1.4 |
| RRLPTRAC554 6937701 426528 539 84 |
60 64 4 1.12 |
| RRLPTRAC558 6937699 426448 539 109 |
53 56 3 4.69 85 86 1 1.38 |
| RRLPTRAC559 6937699 426427 539 100 |
64 67 3 6.12 70 72 2 1.86 |
| RRLPTRAC560 6937698 426408 539 100 |
49 50 1 1.76 74 77 3 11.72 |
| RRLPTRAC561 6937698 426388 539 113 |
64 65 1 8.8 |
| RRLPTRAC562 6937697 426367 539 112 |
62 64 2 11.03 |
| RRLPTRAC564 6937735 426487 539 92 |
44 45 1 2.82 |
| RRLPTRAC565 6937735 426447 539 106 |
52 53 1 2.3 |
| RRLPTRAC566 6937736 426407 539 107 |
47 52 5 1.26 62 63 1 1.5 |
| RRLPTRAC571 6937773 426468 540 101 |
51 52 1 1.98 57 58 1 2.74 |
| RRLPTRAC573 6937776 426391 540 95 |
43 44 1 1.41 56 57 1 1.56 |
| RRLPTRAC576 6937776 426369 540 104 |
24 25 1 1.14 |
| Rosemont Collar Location | Intersection >1.0 ppm Au and >1g/t Au*m |
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| Hole ID X Y Z Total Depth(m) |
From (m) To (m) Interval (m) Au (ppm) |
|---|---|
| RRLRMRC366 6918918 428952 502 71 |
40 43 3 1.67 48 58 10 30.11 |
| RRLRMRC367 6918833 428951 502 61 |
34 35 1 1.29 39 40 1 6.16 |
| RRLRMRC368 6918840 428970 502 96 |
23 26 3 1.37 31 32 1 1.82 52 56 4 7.72 |
| RRLRMRC369 6918845 428989 502 122 |
89 91 2 1.43 93 94 1 1.35 |
| RRLRMRC378 6918658 429064 500 70 |
34 36 2 4.67 45 46 1 1.06 67 68 1 1.07 |
| RRLRMRC379 6918599 429077 500 47 |
25 30 5 5.6 44 45 1 3.06 |
| RRLRMRC380 6918572 429090 500 47 |
29 31 2 3.79 |
| RRLRMRC381 6918577 429109 500 69 |
55 56 1 1.74 |
| RRLRMRC382 6918593 429149 500 111 |
53 54 1 1.1 |
| RRLRMRC383 6918548 429153 499 111 |
103 104 1 1.13 |
| RRLRMRC384 6918515 429110 500 37 |
11 13 2 1.2 17 22 5 1.21 |
| RRLRMRC385 6918520 429128 500 64 |
40 42 2 3.27 |
| RRLRMRC386 6918525 429147 500 91 |
60 61 1 1.81 |
| RRLRMRC387 6918476 429120 499 35 |
6 7 1 1.92 |
| RRLRMRC388 6918482 429139 499 58 |
9 10 1 1.36 34 38 4 1.09 |
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| 46 47 1 5.6 |
|
|---|---|
| RRLRMRC389 6918460 429135 499 37 |
6 7 1 3.2 |
| RRLRMRC391 6918441 429140 499 36 |
7 8 1 4 |
| RRLRMRC392 6918446 429160 499 60 |
50 54 4 1.14 58 59 1 1.34 |
| RRLRMRC393 6918423 429152 500 36 |
9 16 7 1.87 |
| RRLRMRC396 6921485 427617 506 182 |
44 48 4 5.01 52 53 1 40 56 58 2 4.04 61 65 4 5.55 69 70 1 16.8 74 75 1 1.87 86 87 1 2.18 |
| RRLRMRC398 6921765 427355 508 100 |
1 2 1 1.6 40 42 2 1.5 74 75 1 4.8 |
| RRLRMRC400 6921740 427339 508 123 |
93 94 1 1.3 97 98 1 1.39 |
| RRLRMRC401 6921732 427383 508 84 |
57 58 1 1.25 60 61 1 1.9 |
| RRLRMRC402 6921725 427345 508 125 |
58 59 1 5.44 96 97 1 1.02 |
| RRLRMRC403 6921711 427383 507 92 |
6 7 1 1.46 61 64 3 7.78 81 82 1 3.92 |
| RRLRMRC404 6921700 427406 507 80 |
54 57 3 3.53 |
| RRLRMRC405 6921691 427368 507 124 |
48 49 1 4.08 |
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| RRLRMRC408 6921656 427409 507 120 |
5 11 6 1.14 70 73 3 1.58 81 85 4 3.68 90 92 2 2.62 |
|---|---|
| RRLRMRC409 6921643 427436 507 80 |
62 63 1 2.19 |
| RRLRMRC410 6921618 427422 507 133 |
67 69 2 3.43 83 84 1 5.76 90 94 4 3.07 |
| RRLRMRC411 6921584 427437 506 120 |
97 103 6 2.81 |
| RRLRMRC412 6921539 427491 506 112 |
74 76 2 18.48 80 83 3 1.72 |
| RRLRMRC413 6921501 427525 506 113 |
34 35 1 5.12 68 69 1 6.32 75 81 6 3.4 |
| RRLRMRC414 6921517 427502 505 123 |
58 59 1 1.9 79 80 1 6.4 95 96 1 1.1 |
| RRLRMRC416 6918907 428912 503 52 |
20 21 1 1.22 |
| RRLRMRC418 6918934 429008 502 161 |
126 139 13 2.61 |
| RRLRMRC419 6918910 428999 502 148 |
43 44 1 1.07 115 121 6 1.33 129 130 1 19.4 |
| RRLRMRC420 6918915 429019 502 264 |
153 170 17 4.41 175 204 29 3.81 213 214 1 1.11 217 220 3 6.43 227 228 1 1.92 |
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| 252 253 1 1.07 256 257 1 1.42 260 264 4 6.91 |
|
|---|---|
| RRLRMRC421 6918884 428981 502 94 |
51 52 1 1.04 54 55 1 1.16 78 86 8 1.52 |
| RRLRMRC422 6918889 429000 502 145 |
32 33 1 1.07 109 115 6 2.21 119 120 1 9.76 126 127 1 8.24 |
| RRLRMRC423 6918850 428932 502 50 |
32 33 1 1.1 |
| RRLRMRC425 6918851 429010 502 160 |
128 129 1 9.76 144 145 1 1.29 153 154 1 3.86 |
| RRLRMRC426 6918797 428964 501 74 |
39 40 1 1.07 44 45 1 1.04 49 50 1 1.7 |
| RRLRMRC427 6918802 428984 501 90 |
63 64 1 4.32 67 68 1 1.02 75 79 4 1.22 82 84 2 11.57 |
| RRLRMRC428 6918808 429005 501 129 |
94 104 10 1.61 107 116 9 3.6 120 121 1 1.1 |
| RRLRMRC429 6918794 429032 501 160 |
140 144 4 2.65 156 157 1 3.39 |
| RRLRMRC431 6918773 429029 501 169 |
132 134 2 2.38 |
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| 138 139 1 4.48 159 160 1 1.13 |
|
|---|---|
| Tooheys Well Collar Location | Intersection >1.0 ppm Au and >1g/t Au*m |
| Hole ID X Y Z Total Depth(m) |
From (m) To (m) Interval (m) Au (ppm) |
| RRLTWRC035 6909259 437880 508 273 |
173 176 3 1.23 252 253 1 1 |
| RRLTWRC089 6909378 437901 509 278 |
239 243 4 3.19 254 266 12 2.17 |
| RRLTWRC100 6909178 437878 507 283 |
219 220 1 1.02 223 225 2 1.34 230 235 5 1.68 247 248 1 1.18 274 276 2 1.27 |
| RRLTWRC120 6908860 437940 508 213 |
86 87 1 1.54 |
| RRLTWRC123 6909059 437921 506 273 |
162 163 1 1.61 256 257 1 2.06 |
| RRLTWRC130 6909455 437938 509 328 |
115 116 1 1.1 126 127 1 1.32 176 177 1 1.09 254 255 1 1.95 |
| RRLTWRC132 6908697 438020 507 158 |
51 53 2 1.91 63 64 1 1.09 78 79 1 1.05 97 98 1 3.03 107 108 1 2.39 |
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Quarterly Report to 30 September 2016
==> picture [125 x 37] intentionally omitted <==
| RRLTWRC138 6909058 437958 507 303 |
117 118 1 1.46 162 163 1 1.02 168 169 1 1.06 220 224 4 1.24 232 239 7 1.55 252 255 3 1.05 |
|---|---|
| RRLTWRC141 6909020 437923 507 248 |
111 112 1 2.21 116 117 1 1.05 155 156 1 1.12 169 176 7 1.21 189 190 1 1.07 194 195 1 1.2 |
| RRLTWRC142 6909020 437962 507 338 |
68 70 2 2.44 157 158 1 1.02 161 165 4 1.11 236 237 1 1.68 239 245 6 1.8 |
| RRLTWRC143 6909659 437856 508 198 |
0 2 2 1.37 60 63 3 1.55 74 75 1 1.85 83 84 1 2.39 131 132 1 1.54 161 165 4 1.26 182 183 1 1.06 |
| RRLTWRC144 6909658 437817 508 164 |
53 54 1 2.86 61 62 1 4.16 85 87 2 2.06 |
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Quarterly Report to 30 September 2016
==> picture [125 x 37] intentionally omitted <==
| 119 120 1 1.01 |
|
|---|---|
| RRLTWRC145 6909580 437820 508 168 |
86 87 1 1.35 116 117 1 2.23 125 134 9 2.54 |
| RRLTWRC147 6909139 437918 506 303 |
111 112 1 1.07 116 117 1 1.13 120 124 4 1.28 135 140 5 1.35 151 157 6 1.15 179 180 1 1.56 187 192 5 1.14 207 208 1 1.76 |
| RRLTWRC148 6909180 437959 507 358 |
90 91 1 2.47 97 98 1 1.21 150 151 1 2.36 176 188 12 1.75 192 193 1 1.34 195 197 2 1.15 201 203 2 1.48 210 218 8 1.32 226 251 25 2.25 255 256 1 1.14 258 263 5 1.1 274 280 6 2.81 283 285 2 1.37 292 293 1 1.02 305 319 14 3.02 |
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Quarterly Report to 30 September 2016
==> picture [125 x 37] intentionally omitted <==
| 333 334 1 3.09 |
|
|---|---|
| RRLTWRC150 6909440 437759 507 98 |
17 18 1 2 57 60 3 1.62 65 68 3 1.73 71 74 3 1.2 |
| RRLTWRC151 6909440 437779 508 88 |
53 58 5 2.55 73 78 5 1.32 |
| RRLTWRC152 6909439 437799 508 138 |
58 65 7 1.36 82 83 1 8.96 87 97 10 2.12 |
| RRLTWRC153 6909440 437820 508 158 |
51 55 4 1.66 59 65 6 1.24 108 116 8 1.9 |
| RRLTWRC154 6909440 437840 508 188 |
44 46 2 1.59 49 56 7 5.21 60 61 1 1.62 120 123 3 1.77 132 138 6 2.02 144 145 1 1.87 |
| RRLTWRC155 6909740 437738 505 128 |
57 58 1 1.44 66 68 2 2.14 107 108 1 1.34 |
| RRLTWRC156 6909738 437812 507 188 |
52 53 1 5.2 |
| RRLTWRC157 6909220 437958 508 328 |
51 55 4 3.07 147 148 1 2.07 176 178 2 2.03 188 190 2 1.78 |
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Quarterly Report to 30 September 2016
==> picture [125 x 37] intentionally omitted <==
| 194 195 1 1 201 202 1 2.18 213 214 1 1.44 231 243 12 2.46 251 276 25 3.41 290 305 15 2.27 |
|
|---|---|
| RRLTWRC158 6909336 437900 508 273 |
62 65 3 2.78 128 135 7 1.54 176 206 30 2.01 |
| RRLTWRC159 6909658 437941 508 178 |
118 119 1 1.67 121 122 1 1.13 |
| RRLTWRC160 6909440 437860 508 213 |
42 43 1 1.18 52 58 6 3.95 74 75 1 2.47 137 139 2 1.4 148 159 11 2.02 |
| RRLTWRC161 6909159 437821 507 138 |
0 1 1 1.07 123 124 1 1.46 |
| RRLTWRC162 6909159 437840 507 158 |
9 10 1 1.43 61 62 1 1.02 |
| RRLTWRC163 6909159 437859 507 183 |
61 62 1 2.34 67 70 3 1.62 75 83 8 1.4 |
| RRLTWRC164 6909461 437718 506 98 |
75 82 7 1.12 |
| RRLTWRC166 6909576 437759 508 88 |
53 54 1 2.5 59 68 9 2.71 |
| RRLTWRC167 6909379 437884 509 228 |
45 46 1 1.95 |
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Quarterly Report to 30 September 2016
==> picture [125 x 37] intentionally omitted <==
| 62 64 2 1.28 94 98 4 1.91 103 105 2 1.45 128 130 2 1.63 161 191 30 2.13 196 197 1 1.07 |
|
|---|---|
| RRLTWRC168 6909159 437880 507 198 |
91 108 17 2.23 146 148 2 1.53 |
| RRLTWRC169 6909159 437898 506 218 |
114 119 5 1.96 124 138 14 1.33 144 145 1 1.48 161 162 1 1.14 167 177 10 2.51 |
| RRLTWRC171 6909160 437940 505 318 |
87 88 1 1.55 152 155 3 3.41 160 161 1 1.11 165 179 14 1.5 185 188 3 1.42 192 224 32 2.83 229 252 23 1.96 258 269 11 2.8 272 274 2 1.02 |
| RRLTWRC172 6909380 437918 505 293 |
73 74 1 1.54 78 81 3 3.51 131 132 1 1.17 208 209 1 1.2 212 213 1 1.34 |
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Quarterly Report to 30 September 2016
==> picture [125 x 37] intentionally omitted <==
| 218 274 56 2.34 277 285 8 1.78 |
|
|---|---|
| RRLTWRC173 6909160 437960 505 348 |
78 80 2 4.14 126 127 1 1.46 153 154 1 1.22 173 185 12 2.56 189 195 6 2.1 208 209 1 1.26 212 218 6 1.54 224 225 1 1.79 230 248 18 2.65 252 253 1 3.98 258 263 5 1.18 272 273 1 1.33 288 289 1 1.24 296 299 3 2.41 310 323 13 3.58 |
| RRLTWRC174 6909020 437717 511 103 |
59 60 1 1.24 |
| RRLTWRC175 6909020 437780 508 198 |
92 93 1 1.08 146 148 2 1.12 173 174 1 2.03 |
| RRLTWRC176 6909020 437904 506 193 |
74 75 1 2.18 85 86 1 1.61 89 96 7 1.68 130 131 1 2.79 |
| RRLTWRC178 6909100 437697 508 113 |
49 52 3 1.02 54 55 1 1.05 |
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Quarterly Report to 30 September 2016
==> picture [125 x 37] intentionally omitted <==
| 65 70 5 1.43 76 77 1 1.36 95 97 2 10.62 |
|
|---|---|
| RRLTWRC179 6909100 437719 507 128 |
79 85 6 1.39 91 93 2 1.66 96 97 1 1.04 |
| RRLTWRC181 6909540 437752 506 158 |
48 49 1 3.9 54 55 1 1.1 |
| RRLTWRC182 6909540 437834 506 179 |
28 30 2 159.26 34 35 1 1.82 42 43 1 1.4 50 51 1 1.09 53 54 1 1.18 124 130 6 1.61 140 141 1 1.05 |
| RRLTWRC183 6909540 437874 506 243 |
23 24 1 6.31 61 62 1 2.57 167 168 1 1.06 172 173 1 4.01 177 178 1 1.26 |
| RRLTWRC184 6909620 437700 505 98 |
75 76 1 1.06 81 85 4 1.57 |
| RRLTWRC185 6909620 437740 505 133 |
55 59 4 3.06 109 110 1 2.14 126 127 1 1.62 |
| RRLTWRC186 6909620 437780 505 103 |
47 48 1 1.75 77 79 2 1.3 |
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Quarterly Report to 30 September 2016
==> picture [125 x 37] intentionally omitted <==
| 92 94 2 1.4 99 102 3 1.93 |
|
|---|---|
| RRLTWRC187 6909620 437820 505 171 |
58 59 1 1.38 83 84 1 1.4 108 109 1 3.46 112 113 1 1.24 131 132 1 2.77 136 137 1 1.02 146 147 1 1.53 |
| RRLTWRC188 6909620 437857 505 103 |
96 97 1 1.3 |
| RRLTWWE001 6909341 437807 507 132 |
43 44 1 1.23 45 72 27 1.98 77 83 6 1.63 88 105 17 2.23 |
Page 53