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REGIS RESOURCES LIMITED — Interim / Quarterly Report 2017
Jan 15, 2017
65733_rns_2017-01-15_5c1f11f9-43f6-4755-aee7-dc5eebf2aec7.pdf
Interim / Quarterly Report
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Quarterly Report to 31 December 2016
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HIGHLIGHTS
DUKETON OPERATIONS
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Gold production for the quarter of 80,090 ounces is a run rate in the upper half of FY17 annual guidance range and the highest quarterly production since September 2014.
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Production was 7% higher than Q1 (74,612 ounces) as grade improved at both Garden Well and Rosemont and first ore from Gloster was processed.
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First half gold production of 154,702 ounces puts Regis on track to exceed FY16 production and in line with FY2017 annual guidance range of 300,000-330,000 ounces.
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Pre-royalty cash cost for the quarter of $804 per ounce and all in sustaining cost of $951 per ounce (Q1: CC $850/oz & AISC $946/oz), both below the lower end of FY17 guidance.
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Strong cash flow generation from operations continues with $64.5 million for the quarter (Q1: $59.6m).
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Mining at the Erlistoun Project commenced during the quarter with first ore carted to the Garden Well processing plant and stockpiled at the end of the quarter.
CORPORATE
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Cash and bullion increased by $26.6 million for the quarter to $129.7 million (Q1: $103.1 million) after the payment of $7.7 million of pre strip mining and $2.4 million of start-up capital at Gloster and Erlistoun, $2.6 million on the Rosemont cutback and $6.8 million on the extensive exploration programmes at Duketon and McPhillamys.
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During the quarter, Regis sold 71,092 ounces of gold at an average price of A$1,719 per oz.
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Board bolstered by the appointment of Mrs Fiona Morgan as a non-executive director.
EXPLORATION
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Drilling programmes at both Duketon (Rosemont and Tooheys Well) and McPhillamys have returned significant intercepts of gold mineralisation.
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Significant results from RC drilling Rosemont South (“RS”) and under the Rosemont Main Pit (“RM”) during the quarter include:
| 4 | metres @ | 82.05 | g/t gold from | 249m (RM) | 4 | metres @ | 27.29 g/t gold from 162m (RS) |
|---|---|---|---|---|---|---|---|
| 2 | metres @ | 108.5 | g/t gold from | 125m (RS) | 13 | metres @ | 8.19 g/t gold from 274m (RM) |
| 4 | metres@ | 33.54 | g/tgold from | 280m(RM) | 2 | metres@ | 51.26g/tgold from 103m(RS) |
- DD drilling at McPhillamys returned high grade mineralisation. Significant results from infill drilling during the quarter include:
58 metres @ 2.74 g/t gold from 45 to 103m 83 metres @ 1.43 g/t gold from 214 to 297m 121 metres @ 1.22 g/t gold from 156 to 277m 106 metres @ 1.00 g/t gold from 195 to 301m 95 metres @ 1.38 g/t gold from 257 to 352m 62 metres @ 1.58 g/t gold from 23 to 85m
- RC drilling at Tooheys Well has continued to return high grade mineralisation. Significant results from infill drilling during the quarter include:
| 41 metres @ 2.91 g/t gold from 93 to 134m | 19 metres @ 2.10 g/t gold from 63 to 82m |
|---|---|
| 5 metres @ 22.81 g/t gold from 52 to 57m | 8 metres @ 4.85 g/t gold from 71 to 79m |
| 42 [email protected]/tgold from 161 to 203m | 10 [email protected]/tgold from 56 to 66m |
Page 1
Quarterly Report to 31 December 2016
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DUKETON OPERATIONS
The Duketon Gold Project produced 80,090 ounces of gold in the December 2016 quarter (Q2). The December 2016 production run rate is in the upper half of FY17 production guidance range of 300,000 - 330,000 ounces and a 7% increase on the September 2016 quarter (Q1). This increase reflects improved grades at Garden Well and Rosemont and the previously reported anticipated increase in production as higher grade ore is processed from the satellite operations.
The pre-royalty cash cost for the quarter of $804 per ounce and the all in sustaining cost (AISC) of $951 per ounce were both below the lower end of annual cost guidance for FY2017. AISC was in line with Q1 ($946/oz) despite the 7% higher production due to the 23% higher volume of material mined across the Duketon Project, primarily as a result of early stripping at the Gloster and Erlistoun satellite projects.
Operating results for the Regis group for Q2 were as follows:
| DNO | DSO | TOTAL | |
|---|---|---|---|
| Ore mined (Mbcm ) | 0.4 | 0.7 | 1.1 |
| Wastemined (Mbcm) | 2.5 | 4.8 | 7.3 |
| Stripping ratio (w:o) | 6.7 | 6.5 | 6.5 |
| Ore mined (Mtonnes) | 0.7 | 2.0 | 2.8 |
| Ore milled (Mtonnes) | 0.76 | 1.75 | 2.50 |
| Head grade (g/t) | 1.03 | 1.10 | 1.08 |
| Recovery (%) | 93.6 | 91.5 | 92.1 |
| Gold production (ounces) | 23,430 | 56,660 | 80,090 |
| Cash cost (A$/oz) | 672 | 859 | 804 |
| Cash cost inc royalty (A$/oz) | 740 | 928 | 874 |
| All in Sustaining Cost (A$/oz)1 | 993 | 933 | 951 |
| 1 AISC calculated on a per ounce of production basis |
Duketon Northern Operations (DNO) produced 23,430 ounces of gold at an AISC of $993 per ounce.
Gold production at DNO was up 10% from Q1. The annualised throughput rate remained strong at over 3mtpa, which combined with the higher head grade from Gloster and higher recovery, contributed to the highest quarterly gold production at DNO since the December 2014 quarter.
The first ore from the Gloster Project was carted by road to the Moolart Well plant (26 kilometres to the east) and processed during the quarter. The milled grade of Gloster ore for the quarter was 1.18g/t which made a positive contribution to project grade and production.
AISC for DNO for the quarter was $993 per ounce, 24% higher than Q1. This was due to the high start-up (prestripping) waste movement at the Gloster operation (stripping ratio 9.5) which contributed to the overall stripping ratio at DNO for the quarter of 6.7. Gloster stripping costs were not included in AISC in Q1 as commercial production was not declared until Q2. The stripping ratio (and accordingly mining cost) is expected to reduce over the last two quarters as it trends towards the budgeted stripping ratio for DNO for FY17 of 3.6.
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Quarterly Report to 31 December 2016
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Duketon Southern Operations (DSO) produced 56,660 ounces of gold at an AISC of $933 per ounce. DSO gold production was 6% higher than Q1 primarily as a result of higher grades processed at both Garden Well and Rosemont.
The head grades at both Garden Well and Rosemont were 11-12% higher than Q1 and in line with expectations. Mining at Rosemont during the quarter was primarily in the southern end of the pit where mining has transitioned into fresh ore resulting in improved grades by the end of the quarter. Mill throughput at Rosemont was lower as a result of the increased ore hardness and is expected to remain at current levels until mining of the southern pit extension commences in the second half of 2017.
With the 6% higher production from DSO, AISC of $933 per ounce were 7% lower than Q1 despite the mining stripping ratio of 6.5 in Q2 being higher than the 5.3 in Q1. This is due to Q2 stripping ratio including pre-production stripping at Erlistoun (costs capitalised, not included in AISC). Stripping costs for Erlistoun will be included in DSO AISC in Q3 as the operation will achieve commercial production.
Mining of the Erlistoun Project and stockpiling of ore at the operation commenced during the quarter. The first ore was carted by road to the Garden Well processing plant (8 kilometres to the north) late in the quarter and is expected to have a positive effect on the grade processed in Q3. Erlistoun ore supply is expected to be continuous but in modest tonnages until the start of Q4 when development of the open cut reaches significant ore zones.
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Erlistoun open pit – January 2017
Page 3
Quarterly Report to 31 December 2016
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CORPORATE
Cash Position
The Duketon project generated operating cash flow of $64.5 million in the December 2016 quarter. At the end of the quarter Regis had $129.7 million in cash and bullion an increase of $26.6 million for the quarter. This increase is after the payment of $13.0 million of income tax, $7.7 million of pre strip mining and $2.4 million of start-up capital at Gloster and Erlistoun, $2.6 million on the Rosemont cutback and $6.8 million on the extensive exploration programmes at Duketon and McPhillamys. The expenditure on start-up capital, pre-stripping and Rosemont cutback are all expected to taper over the next two quarters.
The following waterfall chart highlights the movement in Regis’ cash reserves over the quarter.
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Gold Sales & Hedging
During Q2, Regis sold 71,092 ounces of gold at an average price of A$1,719 per ounce (Q1: 73,607 ounces at A$1,765 per ounce). The Company delivered the gold produced during the quarter into a combination of spot deferred contracts and at the prevailing spot price. The total hedging position at the end of the quarter was 404,825 ounces, being 40,000 ounces of flat forward contracts with a delivery price of A$1,454 per ounce and 364,825 ounces of spot deferred contracts with a price of A$1,556 per ounce.
Director Appointment
In October 2016 Regis announced the appointment of Ms Fiona Morgan as a non-executive director. Ms Morgan is a Chartered Professional Engineer with over 23 years’ experience in the mining industry, including working on gold, nickel, coal and iron ore projects. She has wide ranging experience in operations and project management, maintenance, research and design of both underground and surface mining infrastructure and is currently the Managing Director and Chief Executive Officer of Mintrex Pty Ltd, a highly regarded and longstanding consulting engineering company.
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Quarterly Report to 31 December 2016
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EXPLORATION
Overview
Extensive exploration and resource development drilling programmes continued during the quarter at the Duketon project in Western Australia and the McPhillamys project in NSW. Encouraging results were returned at the Rosemont and Tooheys Well projects at Duketon and the McPhillamys project.
During Q2 Regis drilled a total of 56,473 metres across all projects as shown below:
| Hole Type | Total Collars | Total Metres |
|---|---|---|
| AC | 169 | 12,794 |
| RC | 245 | 36,429 |
| DD | 19 | 7,250 |
| Grand Total | 433 | 56,473 |
| Prospect | AC | RC | DD | Total Metres |
|---|---|---|---|---|
| Duketon Gold Project | ||||
| Chert Ridge | 522 | 522 | ||
| Garden Well | 906 | 906 | ||
| Kintyre | 643 | 643 | ||
| McKenzie Well | 331 | 331 | ||
| Rosemont | 21,470 | 21,470 | ||
| Tooheys Well | 6,457 | 6,457 | ||
| Duketon Gold Exploration Joint Venture | ||||
| Bandya | 2,082 | 2,082 | ||
| Bella Well | 2,932 | 2,932 | ||
| Commonwealth | 708 | 708 | ||
| Hack Bore | 4,214 | 3,318 | 7,532 | |
| Mourillian | 1,482 | 1,482 | ||
| Mt Maiden | 3,192 | 966 | 4,158 | |
| McPhillamys | ||||
| McPhillamys | 7,250 | 7,250 | ||
| Total Metres | 12,794 | 36,429 | 7,250 | 56,473 |
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Quarterly Report to 31 December 2016
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Duketon Gold Project
As noted above, almost 36,000 metres of drilling on various exploration projects was completed at the 100% owned Duketon Gold Project during the quarter.
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Significant exploration projects advanced during the quarter at Duketon are outlined below.
Rosemont South Gold Project
The Rosemont South Gold Prospect is located directly south of the current Rosemont Open Pit Mine. Drilling over the last two quarters has demonstrated the potential for both open pit and underground resource definition.
The geology at Rosemont has gold hosted in a steeply east dipping 345° trending quartz-dolerite unit intruding into an ultramafic sequence. Gold mineralisation is associated with quartz-carbonatechlorite-sulphide alteration and is restricted to the quartz-dolerite unit which varies from 5 to >100 metres wide.
An ongoing RC drill programme 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 has been designed to test for both open pit and potential underground mine extensions. Hole depths range from 60 metres to 460 metres. All holes were planned to test the entire width of the quartz dolerite unit. As assay results are returned the knowledge gained will assist in planning the ongoing drilling.
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Quarterly Report to 31 December 2016
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3D long section from south east showing planned Rosemont South & Main drilling, phase 1 and 2
A total of 95 holes were drilled for 15,480 metres over a strike distance of 500 metres. Significant results returned in Q2, all of which are outside current reserves, include:
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2m @ 108.5g/t Au from 125m in hole RRLRMRC448
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o4m @ 27.29g/t Au from 162m RRLRMRC453o2m @ 51.26g/t Au from 103m RRLRMRC543o5m @ 16.21g/t Au from 125m RRLRMRC449o4m @ 19.81g/t Au from 193m RRLRMRC460o2m @ 38.55g/t Au from 261m RRLRMRC588
Current quarter and selected historical drilling results are shown on the following Rosemont South long section below:
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Long section Rosemont South drilling for December 2016 Quarter
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Quarterly Report to 31 December 2016
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A cross section showing some of the December 2016 drill intercepts is shown below.
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Results to date from Rosemont South have been very encouraging with numerous +20 gram-metre (gm) intervals returned over the 500 metre strike length from near surface to 300 metre vertical depth. Ongoing surface RC drilling will continue with a focus on establishing continuity and geometry of high grade gold mineralisation seen at Rosemont South.
Determination of true width of intercepts to date is at an early stage given the current data density, though as a general observation, the majority of high grade intercepts received to date are thought to be near vertical and therefore the true widths of reported intercepts are likely to be slightly less than reported.
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Quarterly Report to 31 December 2016
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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 commenced during the quarter to test for underground mineralisation below the centre of the main pit where numerous high grade intercepts were recorded during exploration and resource development programmes prior to mining.
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 design depth. Shorter holes also allow the use of RC rigs rather than diamond drill rigs. As the drill programme must fit in with mining operations in the pit, the drill programme will extend beyond the current quarter.
A total of 26 holes were drilled for 5,990 metres in the Main Pit at Rosemont during the quarter. 11 holes for 3,354 metres were drilled targeting underground resource definition and the remaining holes drilled were for in pit resource definition. A high proportion of the holes drilled to target underground resources have returned significant intercepts: Selected significant results returned in Q2 include:
o 4m @ 82.05g/t Au from 249m in hole RRLRMRC473 o 4m @ 33.54g/t Au from 280m RRLRMRC481 o 13m @ 8.19g/t Au from 274m RRLRMRC482 o 2m @ 39.28g/t Au from 241m RRLRMRC482 o 1m @ 76.80g/t Au from 263m RRLRMRC474 o 8m @ 8.51g/t Au from 283m RRLRMRC473
Early results from this programme have been very encouraging and there is still a significant portion of phase one drill programme holes to be completed.
Current quarter and selected historical drilling results are shown on the following Rosemont Main Pit long section:
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Long section Rosemont Main Pit drilling for December 2016 Quarter
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Quarterly Report to 31 December 2016
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A cross section showing some of the December 2016 drill intercepts is shown below.
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Tooheys Well Gold Project
The Tooheys Well gold project is located on a granted Mining Lease, 2.5km south of the Garden Well gold mine and hosts an Inferred Mineral Resource Estimate (MRE) of 14.6 MT at 1.16g/t Au for 547,000 ounces of gold at a 0.4g/t Au cut-off. It is particularly encouraging that the 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.
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 infill and extensional drilling in Q2 returned significant mineralised intercepts along the Eastern shear zone. Further RC infill and extensional drilling is planned for Q3.
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Quarterly Report to 31 December 2016
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Infill Resource Drilling
During the quarter a programme of 59 RC holes for 6,457 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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41m @ 2.91g/t Au from 226m in hole RRLTWRC191
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o5m @ 22.81g/t Au from 52m RRLTWRC203o42m @ 2.28g/t Au from 161m RRLTWRC192o19m @ 2.10g/t Au from 63m RRLTWRC250o8m @ 4.85g/t Au from 71m RRLTWRC157o10m @ 3.82g/t Au from 56m RRLTWRC196
Infill RC drilling during the quarter targeted the northwest, central and southwest sectors at Tooheys Well. Assay results from the central sector continue to demonstrate good gold mineralisation continuity both along strike and at depth in the Eastern shear zone. Holes drilled to the north and south of the main zone at Tooheys Well returned encouraging mainly supergene mineralised intercepts. See plan below.
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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 December 2016 quarter highlights drilling in gold.
In addition to the infill drill programme, permitting, geotechnical and metallurgical study programmes are underway in preparation for reporting a reserve at Tooheys Well later in Q3.
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Quarterly Report to 31 December 2016
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Extensional Drilling and Surveys
As previously reported, the current known mineralisation at Tooheys Well covers a strike length of in excess of 500 metres. Regis is currently reviewing the following areas for potential extensions of the mineralisation:
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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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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.
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Tooheys Well Regional plan with magnetics and significant gold intercepts below 50m depth
During the quarter, a ground based Electro Magnetic (EM) Survey commenced to test for potential sulphides conductors in the Tooheys Well area. The survey extends up to Garden Well to the north and 2 kilometers to the south covering the large magnetic anomaly seen on the plan above. The survey is expected to be completed during the current quarter and the acquired data will then undergo processing and interpretation with our geophysical consultants.
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Quarterly Report to 31 December 2016
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McPhillamys Gold Project NSW
The 100% Regis owned McPhillamys Project is one of Australia’s larger undeveloped open pittable gold resources. The project is located approximately 250km west of Sydney, in Central West NSW, 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 and diamond drill programme continued at the McPhillamys Gold Project during the quarter. The aim of the 25,000 metre programme is to infill the current drill pattern to a nominal 50 x 25 metre 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.
At present three diamond rigs and one RC rig are working on site.
A total of 19 holes were drilled for 7,250 metres. Significant results returned in Q2 include:
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58m @ 2.74g/t Au from 45m in hole RRLMPDD090
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o121m @ 1.22g/t Au from 156mo95m @ 1.38g/t Au from 257m RRLMPDD085o83m @ 1.43g/t Au from 214m RRLMPDD094o106m @ 1.00g/t Au from 195m RRLMPDD096o62m @ 1.58g/t Au from 23m RRLMPDD103
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Quarterly Report to 31 December 2016
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Results to date are spread out over a north- south axis and so far, at this early stage of the programme appear to correlate well with historic drilling.
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McPhillamys Gold Plan with December 2016 significant intercepts highlighted
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The initial phase of resource infill drilling is anticipated to be completed in Q3. The planned drilling programme will also be utilised to update the MRE, provide diamond core for further metallurgical and geotechnical studies and ultimately form the basis of a reserve estimation.
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Quarterly Report to 31 December 2016
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Duketon Gold Exploration Joint Venture (Regis Earning 75%)
AC and RC drilling (E38/2231, 2666, 2699, 2737)
155 AC holes for 11,820 metres and 54 RC holes for 7,074 metres were drilled over various projects on the Duketon Gold Exploration JV tenements in Q2. The AC drill programmes completed targeted the major geochemical anomalies derived from the recent lag sampling programme to complete the geochemical survey programme. The RC sample programmes were drilled to follow up anomalous AC results.
Bella Well
The Bella Well project is located 3km to the South West from Regis’ 100% owned Gloster Gold Mine. Lag sampling has defined a 1km north-west trending gold anomaly. Mineralisation at Bella Well appears to consist of supergene enriched gold, interpreted to be the result of complex weathering fronts around the hypogene ore.
A first pass up air core drill programme was designed to test the lag anomaly. 28 AC holes have been completed for 2,932 metres. One hole (RRLBELAC004) returned 4m @ 7.75g/t Au from 80m. A review of the significance of the results from the first pass programme is planned next quarter.
Bandya
The Bandya project is located 5km to the South West from Regis’ 100% owned Petra Gold Project. The target is a NNW trending epidote altered dolerite – felsic volcanic contact over a 1 kilometre strike where historical gold workings occur.
A first pass RC drill programme was designed to test the anomaly. 17 RC holes have been completed for 2,082 metres.
One hole (RRLBNDRC003) returned 4m @ 2.20g/t Au from 80m. A review of the significance of the results from the first pass programme is planned next 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 follow up RC drill programme of 3 holes for 708m was completed during the quarter. One gold result >3gm was received from this drilling programme to date, 3m @ 1.03g/t Au from 52m in hole RRLCMRC003. No further drilling is planned at this stage.
Hacks Bore
The Hacks Bore Project is located 6 kilometres north along strike of Regis’ 100% owned Garden Well mining operation. A second pass broad spaced air core drill programme of 47 holes for 4,214 metres tested for chert hosted mineralisation east of the Garden Well to Moolart Well shear zone looking for Tooheys Well analogues in the eastern metasediments. The AC/RC programme did not return any significant assays.
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Quarterly Report to 31 December 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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Quarterly Report to 31 December 2016
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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) Mrs Fiona Morgan (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 31 December 2016)
| Security | Code | No. Quoted | |
|---|---|---|---|
| OrdinaryShares | RRL | 500,992,775 |
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Quarterly Report to 31 December 2016
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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 | JORC Code explanation | 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 |
Rosemont: 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. |
|||||
| examples | should not | be taken as limiting | the broad meaning of | Hacks Bore, Commonwealth, Bella Well and Bandya: | |||
| sampling. | The Hacks Bore & 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. The Hacks Bore, Commonwealth, and Bandya projects were also | |||||||
| sampled using RC drill holes to follow up on mineralised intercepts received from | |||||||
| the wide spaced AC drill programs | |||||||
| 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 All Projects: representivity and the appropriate calibration of any measurement tools or systems used.
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 pulverised to produce a 30 g charge for fire assay’). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information. Rosemont, Hacks Bore, Commonwealth, Bella Well, Bandya & 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 Assayed using a 50g charge (SGS, Bureau Veritas, Min Analytical and Aurum). 4m field composites were sampled using a spear on the individual 1m samples at Hacks Bore and Commonwealth. McPhillamys diamond: 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). Rosemont, Hacks Bore, Commonwealth, Bella Well, Bandya & 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 routinely orientated by REFLEX 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. Rosemont, Hacks Bore, Commonwealth, Bella Well, Bandya & 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. Rosemont, Hacks Bore, Commonwealth, Bella Well, Bandya & 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. Rosemont, Hacks Bore, Commonwealth, Bella Well, Bandya &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 Mineral Resource estimation, mining studies and metallurgical studies. Rosemont, Hacks Bore, Commonwealth, Bella Well, Bandya &Tooheys Well: Lithology, alteration, veining, mineralisation and, on some holes, magnetic susceptibility were logged from the RC chips and saved in the database. Chips from every interval are also placed in chip trays and stored in a designated building at site for future reference. |
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| Criteria | JORC Code explanation Commentary |
|---|---|
| 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 logged. All drill holes are logged in full. |
|
| Sub- sampling techniques and sample preparation |
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. |
| 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. |
|
| 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. |
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| Criteria | JORC Code explanation Commentary |
|---|---|
| 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 tests |
The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. Rosemont, Hacks Bore, Commonwealth, Bella Well, Bandya &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 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. |
| 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. Rosemont, Hacks Bore, Commonwealth, Bella Well, Bandya &Tooheys Well: Apart from magnetic susceptibility in targeted zones, no other geophysical measurements were routinely made. |
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| Criteria | JORC Code explanation Commentary |
|---|---|
| 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. Hacks Bore, Commonwealth, Bella Well, Bandya: No twinning of holes was completed at this stage. Rosemont &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 usingthe Regisgeological code system and sampleprotocol. Data is |
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| Criteria | JORC Code explanation Commentary |
|---|---|
| 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. Modelling at Rosemont 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 and distribution |
Data spacing for reporting of Exploration Results. Rosemont: 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. Hacks Bore, Commonwealth, Bella Well and Bandya: 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: |
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| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| 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 |
Rosemont, 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. | |
| Hacks Bore, Commonwealth, Bella Well and Bandya: | ||
| 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. | Rosemont, Commonwealth, Tooheys Well & McPhillamys: No sample compositing has been applied in the field within the mineralised zones. |
|
| Hacks Bore, Commonwealth, Bella Well and Bandya: | ||
| 4m compositing was used in the wider spaced drill programmes. | ||
| Orientation of data in relation to geological |
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. In the case of Rosemont underground drill programs, the current drilling is designed to assist in determining ore geometry and therefore a more accurate estimate of true thickness |
| 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 |
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| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| 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. |
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 status |
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, historical sites, wilderness or national park and environmental |
Rosemont :The Rosemont project is located on M38/237, 250 & 343). Current registered holders of the tenements are Regis Resources Ltd & Duketon Resources Pty Ltd (100% subsidiary of Regis Resources). Area = 1683.2ha. Normal Western Australian state royalties apply plus there is a 2% Royalty to Franco Nevada. There are no registered Native Title Claims. |
| settings. | ||
| Bella Well: | ||
| The security of the tenure held at the time of reporting along with | The Bella Well prospect is located E38/2737-57 blocks (actual 13,068ha). Owner | |
| any known impediments to obtaining a licence to operate in the | is Duketon Mining Ltd. Native Title Wutha (WC1999/010) = 62ha (0.478%). Top | |
| area. | NW corner of the tenement. | |
| Bandya: | ||
| The Bandya prospect is located E38/2737-57 blocks (actual 13,068ha). Owner is | ||
| Duketon Mining Ltd. As above | ||
| 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 apply and a further 2% NSR | ||
| 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 | ||
| grantedin 2000.,Lease area= 11,760Ha.Currentregisteredholderofthe |
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| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| tenement is LFB Resources NL (100% subsidiary of Regis Resources). Normal | ||
| NSWstateroyalties apply. There arenoregisteredNativeTitle Claims. | ||
| Exploration done by other parties |
Acknowledgment and appraisal of exploration by other parties. | Rosemont: 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. | 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 and fresh zones | ||
| Commonwealth, Bella Well and Bandya: | ||
| Gold mineralisation at Commonwealth and Bella Well appears to consist of | ||
| supergene enriched gold, interpreted to be the result of complex weathering fronts | ||
| around the hypogene ore in quartz sericite schists. Bandya is located on a NNW | ||
| trending epidote altered dolerite – felsic volcanic contact. | ||
Tooheys Well: |
||
| The gold mineralisation is hosted in a vertical dipping North-South trending | ||
| BandedIron Formation(BIF).Goldmineralisation is associatedwithsulphides |
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| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| (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 | ||
| 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 |
Except for Rosemont and McPhillamys, 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 |
Rosemont: Reported intercepts include a minimum of 2.5 g/t Au value over a minimum distance of 1m with a maximum 2m consecutive internal waste. No upper cuts have been applied. |
|
| of such aggregations should be shown in detail. | McPhillamys: | |
| The assumptions used for any reporting of metal equivalent values | Reported intercepts include a minimum of 0.4 g/t Au value over a minimum | |
| should be clearly stated. | distance of 1m with a maximum 6m consecutive internal waste. No upper cuts have beenapplied. |
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| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| 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. |
Rosemont: The Rosemont South drill holes were nominally 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: |
| 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, |
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. |
| true width not known’). | Hacks Bore, Commonwealth, Bella Well and Bandya: | |
| 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 can overstate true widths. | ||
| 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, Hacks Bore, Commonwealth, Bella Well, Bandya, McPhillamys and Tooheys Well: No other material exploration data to report. |
| data | samples – size and method of treatment; metallurgical test results; | 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. |
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| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| bulk density, groundwater, geotechnical and rock characteristics; | ||
| potential deleterious or contaminating substances. | ||
| 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). |
Rosemont: Drilling will continue during the March 2017 quarter. |
| Tooheys Well: | ||
| Infill drilling will continue in the March 2017 quarter to determine the continuity of | ||
| gold mineralisation in the eastern shear zone to the south and north. | ||
| Bandya: | ||
| Small follow up drill programmes may be planned to follow up anomalous results | ||
| McPhillamys: | ||
| Drilling will continue during the March 2017 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. |
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Quarterly Report to 31 December 2016
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APPENDIX 2
| APPENDIX 2 | ||
|---|---|---|
| Bella Well Collar Location | Intersection >1.0ppm Au and >1g/t Au*m | |
| Hole ID X Y Z Total Depth(m) |
From(m) To(m) Interval(m) Au(ppm) |
|
| RRLBELAC004 6949220 412330 500 102 |
80 84 4 7.75 |
|
| Bandya Collar Location | Intersection >1.0ppm Au and >1g/t Au*m | |
| Hole ID X Y Z Total Depth(m) |
From(m) To(m) Interval(m) Au(ppm) |
|
| RRLBNDRC003 6932526 421580.5 515.6 126 |
80 84 4 2.2 |
|
| Kintyre Collar Location | Intersection >1.0ppm Au and >1g/t Au*m | |
| Hole ID X Y Z Total Depth(m) |
From(m) To(m) Interval(m) Au(ppm) |
|
| RRLBRTAC052 6917147 429799.1 497.25 60 |
16 20 4 1.62 |
|
| Chert Ridge Collar Location | Intersection >1.0ppm Au and >1g/t Au*m | |
| Hole ID X Y Z Total Depth(m) |
From(m) To(m) Interval(m) Au(ppm) |
|
| RRLCERC009 6911640 437400 505 120 |
48 52 4 1.82 |
|
| RRLCERC012 6911560 437440 505 162 |
72 76 4 1.25 |
|
| RRLCERC017 6911480 437480 505 138 |
88 92 4 1.04 |
|
| RRLCERC019 6911400 437440 505 102 |
76 77 1 1.66 |
|
| Commonwealth Collar Location | Intersection >1.0ppm Au and >1g/t Au*m | |
| Hole ID X Y Z Total Depth(m) |
From(m) To(m) Interval(m) Au(ppm) |
|
| RRLCMRC001 6943996 424657.6 542.07 252 |
183 184 1 2.4 |
|
| RRLCMRC002 6943994 424417.6 541.47 252 |
138 139 1 2.66 |
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| 152 153 1 1.74 233 234 1 1.06 |
||
|---|---|---|
| RRLCMRC003 6944378 425059 541.4 204 |
52 55 3 1.03 69 70 1 1.31 171 172 1 1.54 |
|
| Mourillian Collar Location | Intersection >1.0ppm Au and >1g/t Au*m | |
| Hole ID X Y Z Total Depth(m) |
From(m) To(m) Interval(m) Au(ppm) |
|
| RRLMOLAC019 6952101 412735.6 561.56 93 |
76 80 4 2.1 |
|
| McPhillamys Collar Location | Intersection >1.0ppm Au and >1g/t Au*m | |
| Hole ID X Y Z Total Depth(m) |
From(m) To(m) Interval(m) Au(ppm) |
|
| RRLMPDD085 6292605 716028 946 470.6 |
260 278 18 1.69 285 316 31 1.91 320 322 2 1.27 327 328 1 1.14 334 351 17 1.32 |
|
| RRLMPDD086 6292280 715929 972 286.3 |
6 7.5 2 3.14 14.5 17 3 1.08 40 43 3 2.93 49 52 3 1.12 59 65 6 1.48 71 72 1 3.94 78 90 12 2.29 123 124 1 1.09 158 165 7 1.93 |
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Quarterly Report to 31 December 2016
==> picture [124 x 37] intentionally omitted <==
| 170 177 7 1.29 187 188 1 1.03 202 210 8 1.65 235 236 1 2.77 240 259 19 3.43 262 264 2 2 275 276 1 2.49 |
|
|---|---|
| RRLMPDD087 6292255 715929 974 325.8 |
1.5 3 2 1.37 8.5 9 1 2.64 15.5 16 1 1.14 38 39 1 1.61 49 54 5 3.32 62 65 3 1.32 68 69 1 1.27 81 89 8 5.81 200 201 1 1.05 205 207 2 1.46 211 213 2 1.21 246 247 1 1.92 253 254 1 1.58 263 264 1 2.64 267 269 2 1.97 277 281 4 2.11 |
| RRLMPDD088 6292705 716025 941 426.2 |
21.5 22 1 3.22 160 167 7 2.44 236 237 1 1.32 349 355 6 1.1 |
Page 34
Quarterly Report to 31 December 2016
==> picture [124 x 37] intentionally omitted <==
| RRLMPDD090 6292555 715940 953 316.3 |
36 37 1 1.61 46 85 39 3.71 93 96 3 2.57 |
|---|---|
| RRLMPDD091 6292480 716181 953 812.2 |
382 387 5 1.45 390 392 2 4.04 602 603 1 1.41 660 661 1 1.19 670 671 1 1.28 688 691 3 1.18 754 755 1 4.51 |
| RRLMPDD092 6292555 716003 951 488.6 |
137 138 1 1.06 214 217 3 1.03 220 225 5 1.36 229 230 1 2.25 234 240 6 3.03 246 247 1 1.26 250 261 11 3.67 277 278 1 1.82 284 286 2 2.82 300 301 1 1.18 |
| RRLMPDD094 6292205 715973 971 355.5 |
12 13 1 1.33 17.5 23 6 1.56 29 31 2 1.26 37 38 1 1.89 79 80 1 2.04 113 114 1 2.2 217 218 1 15.95 |
Page 35
Quarterly Report to 31 December 2016
==> picture [124 x 37] intentionally omitted <==
| 223 244 21 1.91 257 258 1 1.47 265 266 1 4.22 278 281 3 1.5 284 294 10 2.8 318 320 2 2.25 |
|
|---|---|
| RRLMPDD095 6292580 716150 947 865.5 |
354 355 1 2.02 486 487 1 1.23 500 501 1 1.16 502 503 1 1.13 684 685 1 2.04 701 702 1 2.78 705 706 1 1.14 713 714 1 1.19 716 717 1 1.1 736 737 1 7.15 740 742 2 5.5 748 749 1 1.02 756 757 1 1.52 784 785 1 4.04 |
| RRLMPDD096 6292155 715974 969 370.1 |
110 111 1 1.22 205 206 1 1.06 211 212 1 1.95 216 227 11 1.36 230 247 17 1.27 253 254 1 1.56 274 285 11 2.76 |
Page 36
Quarterly Report to 31 December 2016
==> picture [124 x 37] intentionally omitted <==
| 288 291 3 2.07 295 296 1 1.44 298 299 1 1.05 |
|
|---|---|
| RRLMPDD097 6292105 715972 966 373.9 |
149 150 1 1.74 165 177 12 1.39 209 210 1 3.26 240 241 1 1.53 262 263 1 1.22 287 288 1 2.48 293 294 1 3.42 309 311 2 1.87 |
| RRLMPDD098 6292055 715956 966 313.8 |
40 41 1 1.05 73 75 2 1.16 125 126 1 1.41 151 164 13 1.93 167 168 1 1.88 285 288 3 4.78 291 295 4 4.34 303 304 1 1.06 |
| RRLMPDD099 6292755 715900 933 252 |
11.5 12 1 1.13 44 47 3 1.33 101 102 1 1.63 145 147 2 1.63 |
| RRLMPDD100 6292755 715850 934 103 |
15.5 17 2 1.24 18 18.5 1 1.14 |
| RRLMPDD101 6292305 715861 964 227.5 |
7 7.5 1 1.24 13 14.5 2 1.26 |
Page 37
Quarterly Report to 31 December 2016
==> picture [124 x 37] intentionally omitted <==
| 54 55 1 3.4 60 60.5 1 1.03 63.5 64 1 2.53 81 82 1 1.61 90 91 1 1.04 96 97 1 2.48 110 111 1 1.45 121 122 1 4.44 126 135 9 2.69 139 140 1 1.24 |
|
|---|---|
| RRLMPDD103 6292305 715920 971 293.9 |
4.5 5 1 1.14 25 25.5 1 1.26 28 28.5 1 1.73 36 49 13 4.56 70 74 4 4.27 84 85 1 2.12 142 143 1 2.19 156 157 1 1.11 177 178 1 1.9 182 190 8 1.36 194 195 1 2.43 198 211 13 1.45 215 228 13 2.32 231 232 1 1.21 |
| RRLMPDD104 6292080 715972 968 300.1 |
124 130 6 1.4 155 161 6 3.04 167 168 1 1.11 |
Page 38
Quarterly Report to 31 December 2016
==> picture [124 x 37] intentionally omitted <==
| 193 194 1 1.9 220 221 1 1.41 |
||
|---|---|---|
| RRLMPDD106 6292155 715933 977 302.6 |
40 41 1 1.22 46 50 4 1.11 190 193 3 1.8 246 247 1 1.09 |
|
| RRLMPDD107 6292605 715874 948 210.8 |
8 9 1 1.77 13 13.5 1 1.02 14.5 15 1 1.2 19 19.5 1 1.7 26.5 27 1 1.82 29.5 30 1 1.27 62 63 1 1.71 66 67 1 1.03 124 125 1 1.22 |
|
| RRLMPDD108 6292405 715946 964 371.2 |
65 66 1 1.14 104 105 1 1.31 132 138 6 1.12 145 146 1 1.67 156 157 1 1.66 |
|
| Rosemont Collar Location | Intersection >1.0ppm Au and >1g/t Au*m | |
| Hole ID X Y Z Total Depth(m) |
From(m) To(m) Interval(m) Au(ppm) |
|
| RRLRMRC432 6918386 429165.3 499.37 36 |
12 13 1 1.82 |
|
| RRLRMRC435 6918488 429158.9 499.35 89 |
76 77 1 2.84 |
|
| RRLRMRC436 6918493 429178.6 499.23 124 |
116 118 2 3.28 |
|
| RRLRMRC437 6918513 429171.3 499.07 151 |
105 106 1 1.71 |
Page 39
Quarterly Report to 31 December 2016
==> picture [124 x 37] intentionally omitted <==
| 119 122 3 2.22 128 131 3 16.25 |
|
|---|---|
| RRLRMRC438 6918531 429166.7 499.5 128 |
117 119 2 29.06 |
| RRLRMRC439 6918537 429186.5 499.53 164 |
31 32 1 2.05 131 145 14 3.37 151 153 2 4.39 |
| RRLRMRC440 6918571 429160.3 499.57 142 |
116 119 3 15.17 |
| RRLRMRC442 6918596 429101.5 500.04 74 |
56 58 2 2.03 |
| RRLRMRC448 6918671 429107 500.43 132 |
118 119 1 1.37 121 122 1 1.81 125 127 2 108.5 |
| RRLRMRC449 6918690 429102.5 500.58 139 |
119 121 2 4.93 125 130 5 16.21 |
| RRLRMRC450 6918767 429007.5 501.08 108 |
89 102 13 6.48 |
| RRLRMRC453 6918821 429034.3 501.4 183 |
161 166 5 22.31 |
| RRLRMRC454 6918841 429027.5 501.5 188 |
148 150 2 1.39 156 158 2 1.2 162 172 10 2.26 175 176 1 3.27 |
| RRLRMRC455 6918791 429066.8 501.08 228 |
199 207 8 2.92 210 211 1 3.38 |
| RRLRMRC456 6918775 429083.3 500.9 224 |
196 197 1 1.99 202 203 1 3.43 |
| RRLRMRC458 6918818 429078.6 501.05 264 |
217 219 2 1.38 222 228 6 2.29 |
| RRLRMRC459 6918873 429057.7 501.52 289 |
184 203 19 1.55 209 212 3 1.79 |
Page 40
Quarterly Report to 31 December 2016
==> picture [124 x 37] intentionally omitted <==
| 216 220 4 1.4 228 229 1 3.66 233 238 5 1.77 275 276 1 1.82 |
|
|---|---|
| RRLRMRC460 6918968 429024.4 502.22 328 |
183 210 27 5.52 218 219 1 1.18 |
| RRLRMRC462 6918991 429015.9 502.38 333 |
185 189 4 4 193 195 2 3.37 205 211 6 1.26 |
| RRLRMRC463 6918910 429044.6 501.88 288 |
172 178 6 3.76 183 196 13 4.79 209 210 1 1.25 |
| RRLRMRC464 6918977 428978.3 502.53 234 |
122 123 1 1.21 129 130 1 2.26 |
| RRLRMRC465 6919037 429039.9 502.6 353 |
294 295 1 2.82 315 317 2 1.23 328 329 1 1.14 333 334 1 3.14 342 343 1 1.09 348 349 1 1.4 |
| RRLRMRC466 6919015 428964.8 502.8 188 |
150 160 10 2.36 |
| RRLRMRC468 6919027 429002.1 502.75 338 |
221 223 2 2.28 230 235 5 1.52 242 245 3 1.27 248 249 1 3.14 255 261 6 5.39 265 270 5 2.44 |
Page 41
Quarterly Report to 31 December 2016
==> picture [124 x 37] intentionally omitted <==
| 293 294 1 1.35 |
|
|---|---|
| RRLRMRC470 6919048 428931.8 504.36 158 |
130 131 1 1.44 |
| RRLRMRC471 6919070 428938.8 504.52 223 |
165 173 8 1.19 181 182 1 1.14 187 193 6 1.22 |
| RRLRMRC472 6919078 428941.3 504.64 163 |
141 146 5 1.63 |
| RRLRMRC473 6920030 428357.3 445.06 323 |
249 258 9 37.1 269 270 1 1.45 277 278 1 2.2 282 291 9 7.68 |
| RRLRMRC474 6919989 428361 445.19 278 |
223 224 1 1.65 232 234 2 10.67 254 259 5 4.38 263 264 1 76.8 |
| RRLRMRC475 6919933 428378.9 445.11 298 |
203 204 1 1.06 251 252 1 1.86 259 260 1 1.73 264 267 3 4.02 |
| RRLRMRC476 6919912 428380.6 442.94 290 |
215 216 1 2.91 238 246 8 3.45 256 257 1 1.1 266 269 3 2.01 277 278 1 1.01 |
| RRLRMRC477 6919910 428380.8 442.91 300 |
189 190 1 2.86 199 200 1 1.77 241 242 1 1.74 245 249 4 3.28 |
Page 42
Quarterly Report to 31 December 2016
==> picture [124 x 37] intentionally omitted <==
| 252 254 2 3.08 258 259 1 1.14 267 269 2 3.94 273 277 4 1.45 286 288 2 2.36 |
|
|---|---|
| RRLRMRC478 6919931 428378.1 444.92 314 |
204 205 1 4.13 276 289 13 3.74 298 299 1 1.33 |
| RRLRMRC479 6919986 428360.7 445.2 253 |
202 205 3 1.77 209 210 1 1.13 213 218 5 3.34 227 228 1 1.39 239 240 1 8.72 |
| RRLRMRC480 6920028 428356.6 445.14 310 |
239 244 5 3.8 261 264 3 2.64 282 285 3 1.09 |
| RRLRMRC481 6920091 428351.6 445.19 330 |
263 264 1 2.36 280 284 4 33.54 287 290 3 1.62 294 297 3 5 314 315 1 1.38 |
| RRLRMRC482 6920089 428351.6 445.2 305 |
178 179 1 2.51 219 221 2 1.07 241 243 2 39.78 261 263 2 3.86 274 287 13 8.19 |
| RRLRMRC483 6920009 428358 445.02 353 |
290 293 3 2.12 |
Page 43
Quarterly Report to 31 December 2016
==> picture [124 x 37] intentionally omitted <==
| 298 299 1 1.38 315 322 7 4.34 |
|
|---|---|
| RRLRMRC484 6919640 428673.6 445.12 179 |
76 81 5 1.6 91 92 1 4.72 95 96 1 2.44 99 102 3 1.34 107 108 1 1.49 111 112 1 1.9 |
| RRLRMRC485 6919642 428682.1 445.46 198 |
96 97 1 2.86 100 104 4 1.32 123 126 3 1.35 131 140 9 1.3 147 149 2 2.62 155 156 1 1.33 163 165 2 1.12 |
| RRLRMRC486 6919589 428713.1 445.14 223 |
96 97 1 3.75 107 109 2 2.41 115 117 2 1.53 126 128 2 1.33 130 131 1 1.4 136 137 1 6.98 140 143 3 8.82 153 156 3 2.69 |
| RRLRMRC488 6918748 428942.6 501.41 80 |
13 14 1 1.38 |
| RRLRMRC490 6918767 429019.1 501.13 130 |
105 114 9 4.02 |
| RRLRMRC491 6918776 429051.3 501.09 200 |
154 161 7 2.51 167 169 2 11.61 |
Page 44
Quarterly Report to 31 December 2016
==> picture [124 x 37] intentionally omitted <==
| RRLRMRC501 6918947 429017.2 502.12 240 |
156 159 3 1.38 166 173 7 1.62 179 180 1 5.58 195 196 1 1.78 |
|---|---|
| RRLRMRC502 6918932 428962.9 502.35 123 |
45 46 1 1.94 62 64 2 9.89 |
| RRLRMRC503 6918938 428986.7 502.27 125 |
95 96 1 1.14 102 103 1 12.1 |
| RRLRMRC505 6918980 428915.9 503.3 63 |
48 49 1 2.12 |
| RRLRMRC508 6918987 428937.2 502.61 99 |
40 41 1 1.38 |
| RRLRMRC509 6918993 428959.3 502.64 143 |
116 129 13 1.56 |
| RRLRMRC511 6918966 428937.8 502.72 99 |
50 51 1 5.58 |
| RRLRMRC512 6919094 428949.2 504.86 236 |
160 162 2 2.5 178 181 3 3.06 |
| RRLRMRC513 6918555 429088.5 500.14 60 |
20 21 1 1.36 |
| RRLRMRC516 6918625 429094.2 500.23 84 |
54 55 1 1.01 57 58 1 1.27 69 70 1 1.38 |
| RRLRMRC520 6918654 429044.1 500.42 89 |
16 17 1 1.58 23 25 2 4.9 28 29 1 1.26 |
| RRLRMRC521 6919475 428749.8 443.82 170 |
94 96 2 1.44 99 100 1 1.3 104 111 7 1.7 118 120 2 1.62 135 139 4 1.38 152 153 1 1.22 |
Page 45
Quarterly Report to 31 December 2016
==> picture [124 x 37] intentionally omitted <==
| RRLRMRC522 6919496 428751 444.92 276 |
107 112 5 3.35 118 120 2 1.64 137 139 2 2.07 146 147 1 1.42 149 150 1 1.3 193 197 4 6.36 206 207 1 2.65 212 213 1 1.12 216 226 10 8.07 233 234 1 1.3 238 240 2 1.31 255 258 3 3.94 |
|---|---|
| RRLRMRC523 6919513 428738.1 444.72 192 |
80 86 6 9.09 90 91 1 1.42 98 99 1 1.32 103 105 2 6.04 124 125 1 2.81 |
| RRLRMRC524 6919568 428714.4 445.22 180 |
80 81 1 1.6 91 95 4 1.64 110 114 4 1 119 124 5 1.35 |
| RRLRMRC526 6918913 428943.2 502.39 72 |
41 42 1 1.67 46 47 1 1.69 |
| RRLRMRC527 6918919 428960.6 502.27 90 |
41 43 2 1.2 46 51 5 1.22 55 63 8 6.82 |
| RRLRMRC532 6918788 428921.9 501.55 84 |
21 22 1 1.58 |
Page 46
Quarterly Report to 31 December 2016
==> picture [124 x 37] intentionally omitted <==
| RRLRMRC533 6918863 428987 501.8 120 |
59 60 1 2.14 76 81 5 1.64 |
|---|---|
| RRLRMRC534 6918857 429033.6 501.45 246 |
157 176 19 2.46 180 188 8 3.83 |
| RRLRMRC535 6918690 429038.9 500.6 120 |
45 46 1 1.13 |
| RRLRMRC536 6918695 429058.5 500.52 140 |
83 84 1 1.23 |
| RRLRMRC537 6918701 429077.7 500.46 160 |
118 119 1 1.55 |
| RRLRMRC538 6918706 429098.4 500.61 180 |
23 24 1 1.2 |
| RRLRMRC539 6918757 429031.5 500.84 150 |
117 127 10 1.36 |
| RRLRMRC540 6919733 428633.2 445.31 125 |
78 79 1 4.18 86 91 5 6.65 103 104 1 3.76 107 108 1 2.04 |
| RRLRMRC541 6918678 429135.3 500.48 203 |
187 189 2 4.35 |
| RRLRMRC543 6918665 429095.3 500.31 130 |
91 92 1 4.22 96 98 2 1.72 103 105 2 51.26 |
| RRLRMRC544 6918695 429117.5 500.7 164 |
136 140 4 1.78 |
| RRLRMRC545 6918508 429090.7 499.89 29 |
11 12 1 1.45 |
| RRLRMRC547 6918805 429049.3 501.29 251 |
176 183 7 1.21 186 194 8 1.75 |
| RRLRMRC548 6919717 428651 445 180 |
113 116 3 1.09 119 123 4 1.84 126 132 6 1.82 144 145 1 1.93 148 150 2 4.83 |
| RRLRMRC550 6918480 429201.8 499.35 161 |
145 146 1 4.06 |
Page 47
Quarterly Report to 31 December 2016
==> picture [124 x 37] intentionally omitted <==
| RRLRMRC552 6918489 429237.5 499.28 233 |
195 202 7 1.64 |
|---|---|
| RRLRMRC562 6918945 429033 502.01 292 |
160 161 1 1.82 180 181 1 2.74 187 198 11 1.68 202 204 2 2.71 222 225 3 12.2 |
| RRLRMRC563 6918949 429072 501.94 385 |
280 284 4 5.68 288 311 23 2.22 316 317 1 2.83 323 324 1 1.38 |
| RRLRMRC564 6919033 428954 501 184 |
152 156 4 1.46 160 167 7 5.67 171 173 2 2.89 |
| RRLRMRC565 6919062 428983 501 350 |
214 217 3 3.92 233 234 1 2.18 238 245 7 1.42 258 259 1 13.8 |
| RRLRMRC566 6919660 428668.2 445.54 179 |
104 105 1 1.26 111 113 2 3.07 118 119 1 1.14 125 126 1 1.25 134 138 4 2.75 144 147 3 4.79 157 158 1 1.11 |
| RRLRMRC567 6919679 428665.8 445.43 184 |
105 106 1 1.25 114 115 1 1.05 133 135 2 1.35 |
Page 48
Quarterly Report to 31 December 2016
==> picture [124 x 37] intentionally omitted <==
| 145 146 1 1.17 151 154 3 9.11 |
|
|---|---|
| RRLRMRC568 6918815 429021.3 501.26 162 |
126 130 4 2.16 135 140 5 2.4 |
| RRLRMRC569 6918833 429013.5 501.5 162 |
128 139 11 6.37 148 150 2 7.98 155 156 1 19.6 |
| RRLRMRC570 6919042 428988.3 503 334 |
205 207 2 1.12 210 211 1 6.41 220 223 3 2.12 228 229 1 1.52 |
| RRLRMRC571 6919054 429028.3 502.56 452 |
271 275 4 1.71 298 299 1 1.35 324 326 2 2.29 329 330 1 1.5 333 348 15 4.63 |
| RRLRMRC572 6919124 428982.8 505.02 391 |
237 238 1 1.12 245 248 3 6.35 263 264 1 1.14 271 274 3 1.36 281 282 1 2.04 295 296 1 5.93 |
| RRLRMRC581 6919753 428631.5 445.22 165 |
82 86 4 1.56 94 95 1 1.38 101 114 13 3.71 118 119 1 1.01 |
| RRLRMRC583 6919776 428630.9 445.3 215 |
79 80 1 1.16 |
Page 49
Quarterly Report to 31 December 2016
==> picture [124 x 37] intentionally omitted <==
| 106 107 1 2.1 110 121 11 4.96 125 132 7 2.76 143 145 2 1.7 |
||
|---|---|---|
| RRLRMRC584 6919792 428626.2 445.01 160 |
94 106 12 4.1 109 116 7 2.68 121 122 1 3.11 126 127 1 2.36 132 133 1 1.79 149 150 1 18.8 |
|
| RRLRMRC585 6918995 429037 502 375 |
234 239 5 2.56 246 247 1 1.07 250 252 2 7.7 255 259 4 2.81 262 263 1 2.06 272 273 1 2.37 278 281 3 3.61 |
|
| RRLRMRC587 6918967 429007.8 502.17 270 |
155 161 6 5.57 168 171 3 2.53 178 179 1 1.37 |
|
| RRLRMRC588 6918975 429041 502.28 380 |
228 229 1 1.19 235 237 2 5.79 244 245 1 1.3 248 251 3 7.71 256 264 8 10.36 269 270 1 2.19 |
|
| Tooheys Well Collar Location | Intersection >1.0ppm Au and >1g/t Au*m |
Page 50
Quarterly Report to 31 December 2016
==> picture [124 x 37] intentionally omitted <==
| Hole ID X Y Z Total Depth(m) |
From(m) To(m) Interval(m) Au(ppm) |
|---|---|
| RRLTWRC052 6909059 437819.7 505.79 198 |
166 167 1 2.09 |
| RRLTWRC128A 6909100 437920 508 326 |
122 123 1 2.27 128 133 5 1.6 138 141 3 1.52 188 189 1 1 218 219 1 2.03 |
| RRLTWRC150 6909440 437758.9 507.02 126 |
102 111 9 2.15 |
| RRLTWRC170 6909160 437918.6 506.39 288 |
126 127 1 5.34 140 142 2 1.16 150 151 1 1.46 154 157 3 1.92 163 165 2 1.47 169 174 5 2.09 188 197 9 1.87 202 205 3 4.89 221 222 1 1.1 236 243 7 1.65 246 252 6 1.34 |
| RRLTWRC189 6909618 437904.4 508.21 263 |
66 67 1 1.06 83 84 1 1.05 135 136 1 1.21 159 163 4 1.03 168 169 1 1.43 177 178 1 1.47 184 185 1 2.09 |
Page 51
Quarterly Report to 31 December 2016
==> picture [124 x 37] intentionally omitted <==
| 200 204 4 1.11 254 255 1 1.56 |
|
|---|---|
| RRLTWRC190 6909279 437819.3 507.13 63 |
56 63 7 2.32 |
| RRLTWRC191 6909279 437860 507.99 158 |
46 48 2 2.42 53 62 9 2.2 65 71 6 2.6 75 77 2 1.43 93 134 41 2.91 |
| RRLTWRC192 6909277 437900.6 507.85 223 |
55 59 4 5.28 62 63 1 1.64 129 130 1 1.3 132 133 1 1.06 145 158 13 2.46 161 203 42 2.28 |
| RRLTWRC193 6909278 437942.2 508.09 328 |
207 211 4 2.23 217 218 1 3.41 236 257 21 1.72 267 271 4 2.05 293 298 5 2.83 302 303 1 1.08 305 306 1 1.55 |
| RRLTWRC194 6909300 437920.7 508.39 108 |
62 68 6 1.64 |
| RRLTWRC195 6909579 437797 508.12 133 |
58 60 2 1.44 73 74 1 1.02 78 79 1 1.98 93 95 2 1.2 118 119 1 2.26 |
Page 52
Quarterly Report to 31 December 2016
==> picture [124 x 37] intentionally omitted <==
| 122 123 1 1.02 |
|
|---|---|
| RRLTWRC196 6909578 437839.3 508.08 88 |
56 66 10 3.82 |
| RRLTWRC197 6909577 437878.5 508.25 108 |
70 72 2 1.32 75 76 1 1.22 |
| RRLTWRC198 6909458 437837.7 508.43 178 |
51 58 7 1.78 115 117 2 1.49 120 121 1 1.34 131 133 2 1.13 |
| RRLTWRC199 6909457 437879.9 508.52 128 |
44 45 1 2.12 49 54 5 2.07 60 61 1 1.28 |
| RRLTWRC200 6909455 437917.1 508.64 113 |
76 77 1 1.12 83 84 1 1.66 |
| RRLTWRC202 6909499 437781.6 508.24 138 |
47 56 9 3.22 82 83 1 1.06 |
| RRLTWRC203 6909500 437834 508 178 |
52 57 5 22.81 112 117 5 1.62 |
| RRLTWRC204 6909440 437900 507 243 |
59 60 1 1.3 225 230 5 2.17 |
| RRLTWRC205 6909500 437880 507 97 |
53 54 1 5.28 72 73 1 1.48 |
| RRLTWRC207 6909540 437773 506 103 |
53 54 1 2.02 |
| RRLTWRC208 6909540 437793 506 120 |
57 58 1 1.22 82 83 1 2.2 |
| RRLTWRC209 6909540 437814 506 138 |
53 54 1 1.39 84 85 1 2.9 106 111 5 1.46 |
Page 53
Quarterly Report to 31 December 2016
==> picture [124 x 37] intentionally omitted <==
| 117 132 15 1.36 |
|
|---|---|
| RRLTWRC210 6909540 437673 507 73 |
62 63 1 1.44 |
| RRLTWRC214 6909500 437749 507 118 |
53 55 2 1.08 |
| RRLTWRC215 6909480 437883 506 118 |
61 62 1 1.15 |
| RRLTWRC216 6909480 437843 506 160 |
41 42 1 1.23 53 54 1 1.13 62 63 1 1.06 118 123 5 2.03 |
| RRLTWRC220 6909420 437680 506 66 |
56 57 1 1.94 |
| RRLTWRC222 6909280 437800 508 78 |
58 59 1 7.76 |
| RRLTWRC223 6909260 437935 507 114 |
92 93 1 1.62 |
| RRLTWRC225 6909220 437720 505 108 |
68 69 1 8.96 |
| RRLTWRC227 6909180 437700 505 84 |
52 53 1 2.8 |
| RRLTWRC228 6909180 437720 505 96 |
52 53 1 1.87 |
| RRLTWRC231 6909140 437685 507 102 |
73 76 3 1.16 |
| RRLTWRC233 6909100 437677 508 72 |
6 7 1 1.17 62 63 1 1.81 |
| RRLTWRC235 6909100 437739.8 507 138 |
105 106 1 3.19 109 113 4 6.46 118 123 5 1.92 |
| RRLTWRC239 6909060 437730 509 138 |
85 88 3 1.05 93 96 3 1.43 104 108 4 1.41 |
| RRLTWRC240 6909060 437768 507 180 |
71 79 8 4.85 84 85 1 1.14 |
| RRLTWRC242 6908982 437737 514 120 |
67 69 2 1.33 |
| RRLTWRC243 6909740 437700 505 72 |
48 49 1 1.51 |
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Quarterly Report to 31 December 2016
==> picture [124 x 37] intentionally omitted <==
| RRLTWRC244 6909740 437775 506 150 |
51 52 1 1.5 |
|---|---|
| RRLTWRC245 6909660 437700 505 102 |
5 12 7 3.1 51 52 1 3.3 |
| RRLTWRC246 6909660 437740 505 132 |
50 51 1 4.29 57 63 6 2.74 88 89 1 1.58 116 117 1 2.57 123 124 1 1.01 |
| RRLTWRC247 6909660 437780 507 162 |
52 53 1 7.6 82 83 1 1.5 94 98 4 1.48 |
| RRLTWRC248 6909620 437680 505 72 |
50 52 2 3.44 61 62 1 1.02 |
| RRLTWRC249 6909618 437721.3 508 114 |
29 35 6 1.37 45 46 1 1.03 |
| RRLTWRC250 6909618 437761.4 507 162 |
63 82 19 2.1 |
| RRLTWRC251 6909540 437854 506 186 |
55 58 3 1.51 149 150 1 1.06 |
| RRLTWRC252 6909520 437826.9 507 60 |
44 59 15 2.42 |
| RRLTWRC253 6909520 437846.9 507 84 |
52 56 4 5.65 |
Page 55