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Resolute Mining Limited Capital/Financing Update 2024
10548_rns_2024-09-11_f5a7f4ce-fc0b-4744-ac89-31700622dff0.pdf
Capital/Financing Update
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12 September2024
Increased Mineral Resource at Mako Satellite Tomboronkoto and Initial Mineral Resource Declared at Mansala in Guinea
Resolute Mining Limited ("Resolute" or "the Company") (ASX/LSE: RSG) is pleased to provide an update on exploration in Senegal and Guinea.
In Senegal, Resolute has been focusing on three potential satellite deposits – Tomboronkoto, Bantaco and Laminia - that could extend the life of the Mako mine. Tomboronkoto is the most advanced prospect with an Indicated and Inferred Mineral Resource Estimate (MRE). The other satellite deposit which has drilling ongoing is Bantaco which has extensive artisanal workings; an update is expected in Q4 2024.
In parallel, Resolute has been undertaking 'Greenfields' exploration on projects located within the Siguiri Basin in Guinea. The most advanced Prospect is Mansala which has an initial Inferred MRE and remains the focus for the Company in Guinea.
Highlights
Senegal, Tomboronkoto
- Total contained gold at Tomboronkoto has increased by at least 30% from the initial MRE announced in January to over 343 koz (initial MRE: 264 koz) grading 2.1g/t Au at 1g/t cut off or 571 koz (initial MRE: 403 koz) grading 1.1 g/t at 0.5 g/t cut-off
- Infill drilling program down to 150m was highly successful with 87% of the updated Mineral Resource classified in the Indicated category
- Mineralisation remains open down dip and along strike to the southwest
- Preliminary metallurgical test-work performed by Resolute on samples from Tomboronkoto show the mineralisation is free milling with recoveries exceeding 90% from both weathered and fresh material
- Drilling is ongoing and the focus over the remainder of 2024 will be to complete an additional 7,000m of diamond drilling aiming to further expand the Tomboronkoto Mineral Resource
- A more accurate timeline on the potential development of Tomboronkoto is expected in Q1 2025 together with an update from the drilling over the remainder of 2024
Senegal, Bantaco
- RC drilling is ongoing at the Bantaco Joint Venture which was signed by Resolute in early 2024
- An update on the program of wide spaced drilling to traverse the outcropping gold mineralisation and coincident geochemical anomalies is expected in Q4 2024
Guinea, Mansala
- Drilling to date has outlined a gold mineralised shear zone over 1.5km long and an Inferred Mineral Resource of 6.6Mt grading 1.6 g/t Au for 343 koz at a cut-off of 1 g/t
- The Mansala Mineral Resource remains open along strike and down dip and future work will focus on expanding this resource
- Pending future drilling results Resolute will assess how the Mansala Prospect fits into the Company's organic growth strategy
Terry Holohan, CEO and Managing Director, commented:
"We are progressing well with our priority of extending the life of the Mako operation with further drilling success and a significant increase in the Mineral Resources at the Tomboronkoto project which is close to the Mako processing facility. Engineering work is progressing in parallel to ensure an investment decision can be made on this project in early 2025.
At the same time the drilling results at the nearby Bantaco project are also starting to intersect mineralisation close to surface and we will publish these results in due course.
We are also pleased to publish the initial exploration discovery from our 100% held greenfields Niagassolo project in Guinea. Drilling over the past year has led to the completion of an initial Mineral Resource Estimate at the newly named Mansala Prospect.
We recently agreed terms of an earn-in for a project in Cote D'Ivoire and this will be announced soon subject to finalising our due diligence.
Along with the ongoing drilling programs at the Syama Greenstone Belt continuously discovering more gold we will shortly have exploration drilling programs ongoing in four jurisdictions in West Africa and we remain keen to look at further opportunities in this highly prospective region."
Tomboronkoto, Senegal
Tomboronkoto is located 16km east of the Mako Processing Plant – see Figure 1. It is approximately 20km by road and, therefore pending studies, we are confident of the opportunity for hauling material to the existing Plant.
Tomboronkoto is the most advanced of the three potential satellite deposits that could result in an extension to the Mako mine. Drilling is continuing at Tomboronkoto to further expand the resource with a more accurate timeline on development of the prospect expected in Q1 2025.
Figure 1: Senegal Geology and Project Locations.
Drilling Program
Resolute continued the drilling program at Tomboronkoto throughout 2024 with a combination of Reverse Circulation (RC) and diamond drilling using multiple drill rigs. For the year to date a total of 26 diamond holes for 6,000 metres and 66 RC holes for 10,263m of drilling has been completed.
The drilling program in 2024 has been focused on upgrading the classification of the Initial Mineral Resource reported to the ASX on 24 January 2024 which was 100% in the Inferred category. As of the latest updated MRE in August 2024 a total of 87% of the current Mineral Resource is classified as Indicated category. The Resource conversion to Indicated category is required to allow declaration of Ore Reserves following mining and geotechnical studies.
Significant intersections are listed in Appendix 1.
Figure 2. Tomboronkoto Drone Imagery and Drillhole Locations
Mineralisation
Gold mineralisation at Tomboronkoto is hosted within a north-east striking shear zone in a granodiorite intrusive. Increasing gold grade appears to correlate with the intensity of pyrite development and exhibits good lateral and vertical continuity through the mineralised zone.
Mineralisation has a relatively simple geometry comprising a zone that varies from 30 to 60m in width, along the 1,700m strike length drilled to date. The zone dips approximately 70⁰ to the south-southeast - a cross-section representative of the typical mineralisation shape is shown on Figure 3.
Figure 3: Cross Section Tomboronkoto
Mineral Resource Estimate
The Tomboronkoto MRE was re-estimated in August 2024 using wireframe constrained Ordinary Kriged estimation methodology, within two nested Leapfrog Indicator wireframes at 0.2 g/t Au and 0.75g/t Au.
A Global Mineral Resource Estimate of 15.5Mt grading 1.1g/t Au for 571,000oz was estimated at a cutoff of 0.5g/t (in-line with the current cut-off grade used to define Mako's Mineral Resources). At a higher 1g/t cut off the grade increases to 2.1g/t with a total of 343,000oz Au. Further cost analysis is required to determine the appropriate cut-off grade for Tomboronkoto.
Resource definition infill drilling at Tomboronkoto was very successful with 100% conversion of the all the previously reported Inferred Mineral Resources quoted in January 2024 to the Indicated category in the August 2024 MRE update. A total of 87% of the current Mineral Resource is classified as Indicated category which will underpin the upcoming studies to declare an Ore Reserve at Tomboronkoto.
The updated MRE is an increase of 30% over the initial MRE using a cut off of 1g/t Au. The Tables below include the initial Inferred MRE announced in January 2024 and the latest updated MRE from August 2024.
| Tomboronkoto Mineral Resource (0.5g/t Au cut-off) | ||||||||
|---|---|---|---|---|---|---|---|---|
| At December 2023 | At August 2024 | |||||||
| Classification | Tonnes | Grade(g/t Au) | Ounces(Au) | Tonnes | Grade(g/t Au) | Ounces (Au) | ||
| Inferred | 10,204,000 | 1.2 | 403,000 | 2,300,000 | 1.0 | 75,000 | ||
| Indicated | - | - | - | 13,190,000 | 1.2 | 496,000 | ||
| Total | 10,204,000 | 1.2 | 403,000 | 15,500,000 | 1.1 | 571,000 |
Table 1: Tomboronkoto Mineral Resources at December 2023 and August 2024 (0.5g/t cut off)
| Tomboronkoto Mineral Resource (1g/t Au cut-off) | ||||||||
|---|---|---|---|---|---|---|---|---|
| At December 2023 | At August 2024 | |||||||
| Classification | Tonnes | Grade(g/t Au) | Ounces(Au) | Tonnes | Grade(g/t Au) | Ounces (Au) | ||
| Inferred | 3,685,000 | 2.2 | 264,000 | 613,000 | 1.9 | 38,000 | ||
| Indicated | - | - | - | 4,439,000 | 2.1 | 305,000 | ||
| Total | 3,685,000 | 2.2 | 264,000 | 5,052,000 | 2.1 | 343,000 |
Table 2: Tomboronkoto Mineral Resources at December 2023 and August 2024 (1g/t cut off)
Future Work
To date the Tomboronkoto deposit is only drilled to 150m below surface and is open down dip. Drilling is currently targeting the extensions of the resource between 150m and 200m below surface. Preliminary results suggest that the mineralisation is continuous down dip.
Drilling at Tomboronkoto will concentrate on open pit extractable Mineral Resources with the expectation that it will provide mill feed for the Mako treatment facility.
Preliminary metallurgical test work was undertaken by Resolute on Reverse Circulation samples from the recent drilling campaign conducted at Tomboronkoto. This showed the mineralisation is free milling with recoveries exceeding 90% from both weathered and fresh material.
Drilling is ongoing and the focus over the remainder of 2024 will be to complete an additional 7,000m of diamond drilling with the aim of further expanding the Tomboronkoto Mineral Resource.
Bantaco, Senegal
Resolute is in a Joint Venture with SNEPAC, a local Senegalese company, to earn into the Bantaco prospect located approximately 20km east of Mako.
The Bantaco project presents an opportunity in the short term to find an economically exploitable gold resource to extend the life of Mako. The project area has extensive artisanal workings in two main locations, Baisso in the southwest and Bantaco in the northeast of the permit.
Drilling commenced in June 2024 and is ongoing. An update on the program of wide spaced drilling to traverse the outcropping gold mineralisation and coincident geochemical anomalies is expected in Q4 2024.
Guinea Exploration
Resolute controls three exploration projects in Guinea, the 100% owned Niagassola and Siguiri-Kouroussa projects and the Kourouba Joint Venture. The Niagassola and Siguiri-Kouroussa Projects lie on major North-South striking regional structures within the Siguiri Basin. The Kourouba Joint Venture is located on a series of mafic volcanics units on the western margin of the Siguiri Basin.
Over the past three years Resolute conducted standard regional exploration techniques over these Greenfields projects. Programs of regional mapping, soil geochemistry and rock chip sampling identified a number of areas with gold anomalies. These areas were tested with auger drilling programs which further defined the anomalous zones.
Figure 4. Guinea Geology and Project Locations
Mansala Prospect
Regional soil and rock chip geochemistry over the entire area of the Niagassola Project identified an area of strong gold anomalism on the western edge of the permit.
This anomaly was followed up by regional auger and air core drilling which further outlined an extensive zone of gold mineralisation.
Reverse Circulation (RC) and diamond drilling programs in 2023 and 2024 have successfully discovered a previously unknown gold zone now named the Mansala Prospect.
Drilling to date has confirmed a north striking 1.5km long gold mineralised shear zone. Mineralisation is interpreted to be steeply-dipping and wholly hosted within sedimentary units. Intensity of gold mineralisation correlates with sedimentary grain size, arsenopyrite and quartz vein development and exhibits good lateral and vertical continuity throughout the zone.
Significant intersections are shown in Appendix 1.
Mineral Resource Estimation
An Initial Mineral Resource Estimate for the Mansala Prospect was undertaken in Q2 2024. Estimation methodology was comprised of wireframe constrained Ordinary Kriged techniques. A summary of the Mansala Resource Parameters is show on the following pages.
A global Mineral Resource of 6.6million tonnes at a grade of 1.6g/t Au for a total of 343,000oz of gold using a cut off of 1g/t Au has been estimated at Mansala.
Drilling to date is on 100m spaced lines therefore Resource classification is 100% Inferred category.
| Mansala Mineral Resource (1g/t Au cut-off) | ||||||
|---|---|---|---|---|---|---|
| Classification | Tonnes | Grade (g/t Au) | Ounces (Au) | |||
| Inferred | 6,625,000 | 1.6 | 343,000 | |||
| Total | 6,625,000 | 1.6 | 343,000 |
Table 3: Mansala Mineral Resources at August, 2024 (1g/t cut off)
Future Work
The mineralisation zone at Mansala is open along strike to the north and south and down dip. Drilling programs to extend the resources are planned to recommence later in 2024 after the conclusion of the wet season in Guinea.
A prospect scale Geophysical IP survey also identified an offset to the west of the northern extensions of the mineralisation. This new target will be tested in H2 2024.
Pending future drilling results Resolute will assess how the Mansala Prospect fits into the Company's organic growth strategy
Figure 5: Mansala drillhole location and drone imagery
Figure 6. Mansala Cross Section
Summary of Tomboronkoto Resource Parameters
A summary of JORC Table 1 is provided below for compliance regarding the Mineral Resources reported within and in-line with requirements of ASX Listing Rule 5.8.1.
Geology and geological interpretation
Mineralisation is currently interpreted to be within a shear in the granodiorite unit. Intensity of gold mineralisation appears to correlate with the intensity of pyrite development and exhibits good lateral and vertical continuity through the mineralised zone.
Mineralisation has a relatively simple geometry comprising a zone that varies from 30 to 60m in width, along the 1,700m strike length drilled to date. The zone dips approximately 70⁰ to the south-southeast.
Sampling and sub-sampling techniques
Reverse circulation samples were collected on 1m intervals by riffle split (dry) or by scoop (wet) to obtain a 1-3kg sample.
Sample preparation includes oven drying, crushing to 10mm, splitting and pulverising to 85% passing - 75µm. These preparation techniques are deemed to be appropriate to the material being sampled.
Reverse circulation and core field duplicates were collected by the company at a rate of 1:20 samples.
Sampling, sample preparation and quality control protocols are of industry standard, and all attempts were made to ensure an unbiased representative sample was collected.
Drilling techniques
Drill types used include reverse circulation with face sampling bit and historic core drilling using PQ and HQ sized bits. All Resolute drilling to date has been RC. Historic core drilling has been incorporated into the resource.
Sample analysis method
All samples were dispatched to ALS Kedougou for sample preparation and to ALS Ouagadougou for gold analysis by 30g fire assay fusion with AAS instrument finish (method code Au-AA25). Over-range results were re-analysed and reported by 30g fire assay fusion with gravimetric finish (method code Au-GRA21). The analytical method was appropriate for the style of mineralisation.
No geophysical tools were used to determine elemental concentrations.
Quality control (QC) procedures included the use of certified standards (1:40), non-certified sand blanks (1:40) and reverse circulation/core field duplicates (1:20).
Laboratory quality control data, including laboratory standards, blanks, duplicates, repeats, grind size results and sample weights were also captured into the digital database.
Analysis of the QC sample assay results indicates that an acceptable level of accuracy and precision has been achieved.
Basis for selected cut-off grade
The cut-off grades selected has been selected using previous Resource (0.5 g/t Au) and Reserve (1.0 g/t Au) cut-off grades used at the nearby Mako deposit.
Mining and metallurgical methods and other material modifying factors
Extensive metallurgical investigations and reporting have been completed prior to the commencement of mining and milling at the nearby Mako deposit.
The processing method involves crushing, and milling, followed by conventional CIL recovery.
There is no evidence to suggest that the metallurgical characteristics of ore extracted from Tomboronkoto would change from that encountered at Mako. Preliminary metallurgical test-work on samples from Tomboronkoto show similar characteristics to the Mako ore and is expected to be treated though the existing circuits.
Classification criteria
Mineral Resources were classified in accordance with the Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC, 2012).
The deposit has been classified as Indicated or Inferred Mineral Resource based on a combination of quantitative and qualitative criteria which include geologic continuity, confidence in volume models, data quality, sample spacing, lode continuity, and estimation parameters (number of informing composites, estimation pass number, kriging quality parameters, and minimum and average distance composites).
The Indicated portion of the resource was defined within a wireframe constructed around blocks estimated in the first two passes, where drilling density is equal to or exceeding 25x25m spacing, and Kriging efficiency is generally greater than or equal to 0.6. Mineralisation not classified as Indicated has been classified as Inferred.
Summary of Mansala Resource Parameters
A summary of JORC Table 1 is provided below for compliance regarding the Mineral Resources reported and in-line with requirements of ASX Listing Rule 5.8.1
Geology and geological interpretation
Mineralisation is interpreted to be steeply-dipping within the sedimentary unit. Intensity of gold mineralisation correlates with sedimentary grain size, the intensity of arsenopyrite and quartz vein development and exhibits good lateral and vertical continuity throughout the mineralised zone.
Mineralisation has a geometry of approximately 40m width, and 1,000m strike length.
Sampling and sub-sampling techniques
Sampling has been conducted by diamond drill coring and reverse circulation drilling.
Diamond core has been logged to geological contacts and sampled at 1m intervals. All core is assayed and cut lengthwise into half core with a diamond blade rock saw, numbered, and bagged for dispatch.
Reverse circulation chips are logged and sampled at 1m intervals. Every interval is assayed, with chips systematically divided into 1/8 proportion using a riffle splitter after the sample is recovered from the cyclone. Samples are numbered and bagged prior to dispatch.
Reverse circulation and core duplicates are collected at a rate of 1 duplicate to 20 samples. Blanks or certified reference material are inserted at a rate of 1 to 20 samples.
Drilling techniques
Diamond core drilling with NTW diameter to target depth, with some NQ2 diameter as tails where possible. Reverse circulation drilling with 4" or 4.5" hammer and 4" rod string to target.
Classification criteria
Mineral Resources were classified in accordance with the Australasian Code for the Reporting of Exploration Results, Mineral Resources, and Ore Reserves (JORC, 2012).
The deposit has been classified entirely as Inferred based on a combination of quantitative and qualitative criteria including geologic continuity, confidence in volume models, data quality, sample spacing, and estimation parameters.
Drill lines are relatively widely-spaced, and do not support a classification above Inferred.
Sample analysis method
All samples are analysed with 30g fire assay fusion with AAS instrument finish (method code Au_AA25). Over-range results are re-analysed and reported by 30g fire assay fusion with gravimetric finish (method code Au-GRA21).
Analysis of QC sample assay results indicates an acceptable level of accuracy and precision.
Basis for selected cut-off grade
The cut-off grade selected is consistent with other deposits in the Siguiri basin.
Mining and Metallurgical methods and other modifying factors
The shallow occurrence of the mineralisation indicates that open pit mining is appropriate, in line with other deposits in the area. The estimation methodology used results in an amount of edge dilution being incorporated into the model. No account of mining loss has been incorporated.
No specific assumptions were made regarding metallurgical factors.
Contact
Resolute Matthias O'Toole-Howes [email protected]
Public Relations
Jos Simson, Tavistock [email protected] +44 207 920 3150
Corporate Brokers
Jennifer Lee, Berenberg +44 20 3753 3040
Tom Rider, BMO Capital Markets +44 20 7236 1010
Authorised by Mr Terry Holohan, Managing Director and Chief Executive Officer
Competent Persons Statement
The information in this report that relates to the Exploration Results, Mineral Resources and Ore Reserves is based on information compiled by Mr Bruce Mowat, a member of The Australian Institute of Geoscientists. Mr Bruce Mowat has more than 5 years' experience relevant to the styles of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person, as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" (the JORC Code). Mr Bruce Mowat is a full-time employee of the Resolute Mining Limited Group and holds equity securities in the Company. He has consented to the inclusion of the matters in this report based on his information in the form and context in which it appears. This information was prepared and disclosed under the JORC Code 2012 except where otherwise noted.
The information in this announcement that relates to the Mineral Resource estimate has been based on information and supporting documents prepared by Mr Patrick Smillie, a Competent Person who is a Registered Member of the Society for Mining, Metallurgy, and Exploration (SME). Mr Smillie is a fulltime employee Resolute Mining Limited Group and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which has been undertaken to qualify as a Competent Person. Mr Smillie confirms that the Mineral Resource estimate is based on information in the supporting documents and consents to the inclusion in the report of the Mineral Resource estimate and related content based on the information in the form and context in which it appears.
Cautionary Statement about Forward-Looking Statements
This announcement contains certain "forward-looking statements" including statements regarding our intent, belief or current expectations with respect to Resolute's business and operations, market conditions, results of operations and financial condition, and risk management practices. The words "likely", "expect", "aim", "should", "could", "may", "anticipate", "predict", "believe", "plan", "forecast" and other similar expressions are intended to identify forward-looking statements. Indications of, and guidance on, future earnings, anticipated production, life of mine and financial position and performance are also forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Resolute's actual results, performance and achievements or industry results to differ materially from any future results, performance or achievements, or industry results, expressed or implied by these forward-looking statements. Relevant factors may include (but are not limited to) changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licences and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which Resolute operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation.
Forward-looking statements are based on Resolute's good faith assumptions as to the financial, market, regulatory and other relevant environments that will exist and affect Resolute's business and operations in the future. Resolute does not give any assurance that the assumptions will prove to be correct. There may be other factors that could cause actual results or events not to be as anticipated, and many events are beyond the reasonable control of Resolute. Readers are cautioned not to place undue reliance on forward-looking statements, particularly in the current economic climate with the significant volatility,
uncertainty and disruption caused by the COVID-19 pandemic. Forward-looking statements in this document speak only at the date of issue. Except as required by applicable laws or regulations, Resolute does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in assumptions on which any such statement is based. Except for statutory liability which cannot be excluded, each of Resolute, its officers, employees and advisors expressly disclaim any responsibility for the accuracy or completeness of the material contained in these forward-looking statements and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in forwardlooking statements or any error or omission.
Appendix 1: Recent Drilling Results
Mansala
| Hole_ID | North | East | RL | Dip | Azi | EOH | From | To | Width | Au |
|---|---|---|---|---|---|---|---|---|---|---|
| (WGS) | (WGS) | (m) | (WGS) | (m) | (m) | (m) | (m) | (g/t) | ||
| NGDD0003 | 1300395 | 486172 | 508 | -50 | 266 | 229.5 | 51 | 79 | 28 | 1.25 |
| NGDD0003 | 115 | 136 | 21 | 1.83 | ||||||
| NGDD0008 | 1300004 | 486115 | 510 | -50 | 270 | 251 | 117 | 146 | 29 | 1.38 |
| NGDD0009 | 1299889 | 486116 | 561 | -50 | 270 | 280 | 167 | 177 | 10 | 2.52 |
| NGRC0042 | 1300188 | 486098 | 509 | -49 | 270 | 159 | 40 | 65 | 25 | 1.77 |
| NGRC0042 | 82 | 129 | 47 | 1.29 | ||||||
| NGRC0042A | 1300190 | 486099 | 509 | -50 | 270 | 61 | 39 | 61 | 22 | 1.72 |
| NGRC0043 | 1300290 | 486127 | 522 | -50 | 270 | 190 | 44 | 60 | 16 | 2.24 |
| NGRC0043 | 67 | 78 | 11 | 2.74 | ||||||
| NGRC0044 | 1300293 | 486077 | 531 | -48 | 270 | 123 | 22 | 45 | 23 | 2.35 |
| NGRC0044A | 1300295 | 486077 | 531 | -48 | 270 | 63 | 14 | 44 | 30 | 1.97 |
| NGRC0045 | 1300389 | 486098 | 531 | -48 | 270 | 105 | 1 | 16 | 15 | 2.83 |
| NGRC0046 | 1300524 | 486172 | 497 | -49 | 270 | 183 | 47 | 92 | 45 | 1.31 |
| NGRC0046 | 102 | 127 | 25 | 2.06 | ||||||
| NGRC0048 | 1300598 | 486178 | 497 | -51 | 270 | 126 | 44 | 59 | 15 | 1.74 |
| NGRC0049 | 1300709 | 486275 | 470 | -47 | 270 | 222 | 173 | 201 | 28 | 1.71 |
| NGRC0050 | 1300707 | 486223 | 475 | -49 | 270 | 180 | 18 | 55 | 37 | 1.57 |
| NGRC0051 | 1300707 | 486170 | 483 | -50 | 270 | 121 | 40 | 60 | 20 | 2.23 |
| NGRC0054 | 1300104 | 486122 | 501 | -50 | 270 | 211 | 128 | 159 | 31 | 2.4 |
| NGRC0055 | 1300099 | 486083 | 513 | -50 | 270 | 160 | 68 | 85 | 17 | 2.56 |
| NGRC0056 | 1300102 | 486028 | 525 | -47 | 266 | 103 | 20 | 48 | 28 | 2.45 |
| NGRC0057 | 1300011 | 486038 | 539 | -49 | 269 | 120 | 56 | 84 | 28 | 1.07 |
Notes to Accompany Table:
- Grid coordinates are WGS84 Zone 29 North
- RC intervals are sampled every 1m by dry riffle splitting or scoop to provide a 1-3kg sample
- Diamond core are sampled every 1m by cutting the core in half to provide a 2-4kg sample
- Cut-off grade for reporting of intercepts is >0.5g/t Au with a maximum of 3m consecutive internal dilution included within the intercept; only intercepts >=3m and >25 gram x metres are reported
- Samples are analysed for gold by 30g fire assay fusion with AAS instrument finish; over-range results are reanalysed by 30g fire assay fusion with gravimetric finish
Tomboronkoto
| Hole_ID | North(WGS) | East(WGS) | RL(m) | Dip | Azi(WGS) | EOH(m) | From(m) | To(m) | Width(m) | Au(g/t) |
|---|---|---|---|---|---|---|---|---|---|---|
| TBDD0001 | 1416657 | 794102 | 103 | -60 | 338 | 133 | 35 | 61 | 26 | 1.14 |
| TBDD0001 | 66 | 84 | 18 | 2.15 | ||||||
| TBDD0003 | 1416683 | 794000 | 104 | -59 | 161 | 183 | 82 | 106 | 24 | 1.43 |
| TBDD0004 | 1416580 | 793893 | 106 | -61 | 339 | 173 | 55 | 102 | 47 | 2.75 |
| TBDD0006 | 1416706 | 793948 | 104 | -61 | 160 | 230 | 0 | 82 | 82 | 1.85 |
| TBDD0007 | 1416677 | 793888 | 119 | -61 | 159 | 208 | 0 | 77 | 77 | 1.34 |
| TBDD0007 | 122 | 162 | 40 | 0.89 | ||||||
| TBDD0008 | 1416662 | 793682 | 109 | -60 | 158 | 271 | 244 | 270 | 26 | 2.36 |
| TBDD0010 | 1416607 | 793859 | 106 | -61 | 341 | 151.5 | 22 | 71 | 49 | 2.97 |
| TBDD0011 | 1416552 | 793807 | 104 | -61 | 341 | 170 | 49 | 106 | 57 | 3.81 |
| TBDD0012 | 1416568 | 793688 | 105 | -60 | 159 | 195 | 19 | 42 | 23 | 1.18 |
| TBDD0012 | 146 | 164 | 18 | 3.03 | ||||||
| TBDD0013 | 1416556 | 793667 | 105 | -64 | 233 | 205 | 0 | 91 | 91 | 1.34 |
| Hole_ID | North | East | RL | Dip | Azi | EOH | From | To | Width | Au |
|---|---|---|---|---|---|---|---|---|---|---|
| TBDD0014 | (WGS)1416557 | (WGS)793665 | (m)105 | -50 | (WGS)232 | (m)209 | (m)0 | (m)57 | (m)57 | (g/t)1.39 |
| TBDD0014 | 98 | 126 | 28 | 1.16 | ||||||
| TBDD0015 | 1416557 | 793668 | 105 | -61 | 160 | 187.5 | 0 | 38 | 38 | 1.44 |
| TBDD0016 | 1416596 | 793750 | 108 | -60 | 160 | 239 | 0 | 19 | 19 | 1.39 |
| TBDD0016 | 60 | 132 | 72 | 1.38 | ||||||
| TBDD0016 | 137 | 144 | 7 | 8.2 | ||||||
| TBDD0017 | 1416675 | 793789 | 116 | -60 | 162 | 271.5 | 133 | 166 | 33 | 1.25 |
| TBDD0017 | 186 | 265 | 79 | 1.52 | ||||||
| TBRC00056 | 1416631 | 794109 | 107 | -90 | 0 | 160 | 59 | 85 | 26 | 1.03 |
| TBRC00059 | 1416678 | 794038 | 106 | -61 | 336 | 195 | 22 | 63 | 41 | 1.95 |
| TBRC00059 | 148 | 158 | 10 | 7.94 | ||||||
| TBRC00063 | 1416679 | 794094 | 101 | -61 | 340 | 100 | 11 | 72 | 61 | 1.84 |
| TBRC00064 | 1416712 | 794078 | 100 | -60 | 340 | 78 | 14 | 49 | 35 | 1.44 |
| TBRC00066 | 1416698 | 794059 | 102 | -60 | 160 | 162 | 120 | 152 | 32 | 0.99 |
| TBRC00069 | 1416704 | 793978 | 101 | -62 | 160 | 138 | 8 | 67 | 59 | 2.29 |
| TBRC00069A | 1416700 | 793975 | 102 | -62 | 160 | 200 | 25 | 64 | 39 | 2.43 |
| TBRC00072 | 1416711 | 793921 | 106 | -61 | 160 | 186 | 0 | 83 | 83 | 1.42 |
| TBRC00074 | 1416630 | 793709 | 109 | -61 | 160 | 230 | 208 | 229 | 21 | 3.73 |
| TBRC00075 | 1416681 | 793931 | 105 | -59 | 160 | 186 | 6 | 40 | 34 | 1.21 |
| TBRC00075 | 44 | 65 | 21 | 1.42 | ||||||
| TBRC00075 | 78 | 96 | 18 | 3.16 | ||||||
| TBRC00075 | 101 | 126 | 25 | 1.37 | ||||||
| TBRC00078 | 1416603 | 793648 | 106 | -61 | 160 | 240 | 116 | 132 | 16 | 2.72 |
| TBRC00078 | 224 | 239 | 15 | 3.95 | ||||||
| TBRC00080 | 1416303 | 793436 | 99 | -60 | 160 | 140 | 4 | 29 | 25 | 3.37 |
| TBRC00090 | 1416324 | 793477 | 99 | -60 | 160 | 151 | 6 | 50 | 44 | 1.94 |
| TBRC00090 | 57 | 80 | 23 | 1.28 | ||||||
| TBRC00091 | 1416574 | 793663 | 106 | -61 | 160 | 168 | 0 | 108 | 108 | 1.58 |
| TBRC00093 | 1416568 | 793760 | 104 | -61 | 160 | 200 | 9 | 22 | 13 | 3.47 |
| TBRC00097 | 1416555 | 793879 | 106 | -62 | 340 | 190 | 91 | 130 | 39 | 1.67 |
| TBRC00102 | 1416654 | 793914 | 105 | -61 | 160 | 132 | 22 | 35 | 13 | 2.12 |
| TBRC00102 | 39 | 132 | 93 | 2.32 | ||||||
| TBRC00103 | 1416674 | 793911 | 100 | -62 | 160 | 174 | 0 | 81 | 81 | 1.51 |
| TBRC00103 | 122 | 151 | 29 | 0.97 | ||||||
| TBRC00104 | 1416583 | 793869 | 110 | -60 | 340 | 162 | 52 | 95 | 43 | 2.33 |
| TBRC00105 | 1416562 | 793820 | 105 | -60 | 340 | 81 | 50 | 81 | 31 | 1.3 |
| TBRC00106 | 1416648 | 793898 | 105 | -60 | 340 | 120 | 10 | 33 | 23 | 2.3 |
| TBRC00107 | 1416648 | 793898 | 105 | -60 | 160 | 180 | 57 | 124 | 67 | 2.32 |
| TBRC00108 | 1416616 | 793904 | 106 | -60 | 340 | 158 | 36 | 77 | 41 | 1.24 |
| TBRC00109 | 1416596 | 793883 | 106 | -60 | 345 | 180 | 56 | 80 | 24 | 1.41 |
| TBRC00111 | 1416586 | 793791 | 104 | -61 | 161 | 114 | 75 | 79 | 4 | 7.74 |
| TBRC00112 | 1416634 | 793791 | 110 | -60 | 342 | 182 | 12 | 45 | 33 | 1.45 |
| TBRC00112 | 50 | 71 | 21 | 1.66 | ||||||
| TBRC00113 | 1416665 | 793869 | 106 | -60 | 342 | 116 | 4 | 23 | 19 | 1.78 |
| TBRC00116 | 1416659 | 793815 | 111 | -60 | 160 | 96 | 1 | 95 | 94 | 2.97 |
| TBRC00117 | 1416615 | 793780 | 107 | -61 | 160 | 114 | 10 | 30 | 20 | 2.6 |
Notes to Accompany Table:
• Grid coordinates are WGS84 Zone 29 North
- RC intervals are sampled every 1m by dry riffle splitting or scoop to provide a 1-3kg sample
- Diamond core are sampled every 1m by cutting the core in half to provide a 2-4kg sample
- Cut-off grade for reporting of intercepts is >0.5g/t Au with a maximum of 3m consecutive internal dilution included within the intercept; only intercepts >=3m and >25 gram x metres are reported
• Samples are analysed for gold by 30g fire assay fusion with AAS instrument finish; over-range results are reanalysed by 30g fire assay fusion with gravimetric finish
Tomboronkoto
Section 1 Sampling Techniques and Data
| CRITERIA | JORC CODE EXPLANATION | COMMENTARY |
|---|---|---|
| Samplingtechniques | •Nature and quality of sampling (e.g. cut channels, randomchips, 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 examples should not be taken as limitingthe broad meaning of sampling.•Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.•Aspects of the determination of mineralisation that are Material to the Public Report.•In cases where 'industry standard' work has been done thiswould be relatively simple (e.g. 'reverse circulation drillingwas used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In othercases more explanation may be required, such as wherethere is coarse gold that has inherent sampling problems.Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information. | Sampling has been by diamond drill coring and reversecirculation chip.Diamond core has been geologically logged and sampled togeological contacts with nominal sample lengths between 0.3mand 4.5m (most commonly 1m). Core selected for assay issystematically cut lengthwise into half core by diamond bladerock saw, numbered and bagged before dispatch to thelaboratory for analysis.All core is photographed, wet and dry.Reverse circulation chips are geologically logged and sampledon regular lengths of 1m. Chip material selected for assay issystematically divided to a 1/8 proportion using a rotary splitterattached to the cyclone sample recovery system, numbered andbagged before dispatch to the laboratory for analysis. |
| 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 diamondtails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc.). | Diamond core drilling with standard inner tubes. NTW diameter(57.1 mm) to target depth where possible with some smallerNQ2 intervals as tails. Core is marked and oriented.Reverse Circulation drilling with 4" or 4.5" hammer and 4" rodstring to target depth. |
| Drill samplerecovery | •Method of recording and assessing core and chip sample recoveries and results assessed.•Measures taken to maximise sample recovery and ensurerepresentative nature of the samples.•Whether a relationship exists between sample recovery andgrade and whether sample bias may have occurred due topreferential loss/gain of fine/coarse material. | Diamond core recoveries are measured in the core trays andrecorded as recovered metres and recovered % as part of thegeological logging process.RC recoveries are monitored by chip sample weight recording.Sample weights have been analysed for cyclicity with norelationship between sample weight and depth noted. |
| Logging | •Whether core and chip samples have been geologically andgeotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.•Whether logging is qualitative or quantitative in nature. Core(or costean, channel, etc.) photography.•The total length and percentage of the relevant intersectionslogged. | Diamond core has been geologically and geotechnically loggedto a level of detail to support appropriate classification andreporting of a Mineral Resource.Reverse circulation chip samples have been geologically loggedto a level of detail to support appropriate classification andreporting of a Mineral Resource.Total length of DD logged is 6,555.5m. Total length of RC loggedis 23,218m. |
| Sub-samplingtechniques andsamplepreparation | •If core, whether cut or sawn and whether quarter, half or allcore taken.•If non-core, whether riffled, tube sampled, rotary split, etc.and whether sampled wet or dry.•For all sample types, the nature, quality and appropriatenessof the sample preparation technique.•Quality control procedures adopted for all sub-samplingstages to maximise representivity of samples.•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.•Whether sample sizes are appropriate to the grain size ofthe material being sampled. | Historic core has been systematically cut lengthwise into halfcore with a diamond saw.RC samples representing a 1/8 split are taken directly from therig mounted cyclone by rotary splitter, sample weight is recorded,sample is bagged in pre numbered plastic and sample tickets areinserted and bag is sealed for transport to preparation facility.Generally, one of each of the two control samples (blank or CRMstandard) is inserted into the sample stream every tenth sample.Over the 2018 deep diamond programme. An industry standard,documented process of sample mark-up, core splitting, baggingand ticketing and recording is in place at the Mako site. Thelaboratories sample preparation followed a standard documentedprocess flow with whole sample crushing (better than 70% |
| CRITERIA | JORC CODE EXPLANATION | COMMENTARY |
|---|---|---|
| passing 2mm) followed by a 1kg riffle split for pulverisation to 75micron (better than 85% pass). | ||
| Master pulps of 250g were split and placed in airtight, sealedbags and sent by courier to the assaying laboratory for analysis. | ||
| Sample size of 2-6kg is appropriate for the grain size of material. | ||
| Quality of assaydata andlaboratory tests | •The nature, quality and appropriateness of the assaying andlaboratory procedures used and whether the technique isconsidered partial or total. | Au assays are determined by fire assay with AAS finish.Laboratory and assay procedures are appropriate for MineralResource estimation. |
| •For geophysical tools, spectrometers, handheld XRF instruments, etc., the parameters used in determining the analysisincluding instrument make and model, reading times, calibrations factors applied and their derivation, etc. | QAQC consisted of standards, blanks and laboratory duplicates(both coarse and pulp). The QAQC sample results showedacceptable levels of accuracy and precision. | |
| •Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) andwhether acceptable levels of accuracy (i.e. lack of bias) andprecision have been established. | The assay data is considered to be suitable for Mineral Resourceestimation. | |
| Verification ofsampling andassaying | •The verification of significant intersections by either independent or alternative company personnel. | All aspects of the core sampling, assay procedures and QA/QCprogram have been reviewed and were judged to be suitable foruse in the estimation of Mineral Resources. |
| •The use of twinned holes.•Documentation of primary data, data entry procedures, dataverification, data storage (physical and electronic) protocols. | Drill hole assay result data has been checked against the originalhardcopy laboratory assay reports for a representative number ofholes. | |
| •Discuss any adjustment to assay data. | Below detection limit values (negatives) have been replaced bybackground values. | |
| Un-sampled intervals have been retained as un-sampled (null orblank). All of these intervals occur within the waste domain andhave no material impact on the estimate. | ||
| Location of datapoints | •Accuracy and quality of surveys used to locate drill holes(collar and down-hole surveys), trenches, mine workings | Drill holes have been surveyed by Mako Mine staff surveyorsusing a Leica GS14, GS15, and GS18 dGPS. |
| and other locations used in Mineral Resource estimation.•Specification of the grid system used.•Quality and adequacy of topographic control. | Downhole surveys were undertaken by the drilling contractorusing a Reflex DeviGyro tool with a reading taken every 3mdownhole. | |
| Grid system is based on the UTM28N grid on the WGS84ellipsoid. Survey heights are based on PRS097 (withindependent checks on AusPos) and are orthometric (i.e. msl). | ||
| A topographic surface with 1m resolution has been generatedfrom a 2022 Lidar survey of the Tombo area. | ||
| Data spacing anddistribution | •Data spacing for reporting of Exploration Results.•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 | Data spacing is Generally 25x25m, with a gap underneathNational Highway 7, which runs across the western portion of thedeposit. This spacing is adequate to determine the geologicaland grade continuity for reporting of a Mineral Resources. |
| procedure(s) and classifications applied.•Whether sample compositing has been applied. | Drill samples were composited to 1m for use in the estimate. | |
| Orientation ofdata in relation togeological | •Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this isknown, considering the deposit type. | Geological structures are interpreted to be steeply-dipping to thesouth-southeast. Drilling intersects structures from the north andsouth sides, generally dipping -60⁰ below horizontal, with |
| structure | •If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to haveintroduced a sampling bias, this should be assessed and re | azimuths either at approximately 340⁰ or 160⁰. All drilling wouldideally be targeted from the south, but the presence of the villageof Tomboronkoto largely precludes this. |
| ported if material. | Drilling primarily targeted the granodiorite unit which containedthe most significant mineralisation and dipped at about 70⁰ tothe south-southeast. The drilling orientation is adequate for anon-biased assessment of the orebody with respect tointerpreted structures and interpreted controls on mineralisation. |
| CRITERIA | JORC CODE EXPLANATION | COMMENTARY |
|---|---|---|
| Sample security | •The measures taken to ensure sample security. | Labelling and submission of samples complies with industrystandard. |
| Audits or reviews | •The results of any audits or reviews of sampling techniquesand data. | An independent audit of the sample preparation laboratory hasbeen undertaken in 2018 (Fis, 2018) found no material issueswith the sampling methods or data.The competent person audited the sample preparation laboratoryin 2024. No material issues were found. |
Section 2 Reporting of Exploration Results
| CRITERIA | JORC CODE EXPLANATION | COMMENTARY | ||
|---|---|---|---|---|
| Mineral tenementand land tenurestatus | •Type, reference name/number, location and ownership including agreements or material issues with third parties suchas joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park andenvironmental settings.•The security of the tenure held at the time of reporting alongwith any known impediments to obtaining a licence to oper | The Tomboronkoto Permit is held by Ardimines SARL. ToroGold Limited is in a joint Venture with Ardimines with Toro beingthe manager and sole funder of the joint Venture. Toro GoldLimited is a company controlled by resolute Limited. The permitis in good standing. | ||
| ate in the area. | ||||
| Exploration doneby other parties | •Acknowledgment and appraisal of exploration by other parties. | Past exploration has been performed by Ashanti Gold andRandgold Resources on a previously held Research Permitwhich was relinquished prior to being held by Ardimines SARL.Randgold had undertaken soil geochemistry, surface mappingand drilling on the entire Research Permit. Regional augerdrilling identified gold anomalism which Ashanti Gold followed upwith Diamond and Reverse Circulation drilling and trenching onthe Tomboronkoto prospect. Subsequently Randgold undertookfurther DD drilling and trenching. | ||
| Geology | •Deposit type, geological setting and style of mineralisation. | Mineralisation is currently interpreted to be within a shear in thegranodiorite unit. Intensity of gold mineralisation appears to correlatewith the intensity of pyrite development and exhibits good lateral andvertical continuity through the mineralised zone. | ||
| Mineralisation has a relatively simple geometry comprising a zonethat varies from 30 to 60m in width, along the 1,700m strike lengthdrilled to date. The zone dips approximately 70⁰ to the southsoutheast. | ||||
| Drill holeInformation | •A summary of all information material to the understandingof the exploration results including a tabulation of the following information for all Material drill holes: | Easting, Northing and RL of the drill hole collars are based on theUTM28N grid on the WGS84 ellipsoid. Survey heights are based onPRS097 (with independent checks on AusPos) and are orthometric(i.e. msl). | ||
| oeasting and northing of the drill hole collaroelevation or RL (Reduced Level – elevation above sea | The MRE has used drill hole collar RL derived from the topographical | |||
| level in metres) of the drill hole collar | surface. | |||
| odip and azimuth of the holeodown hole length and interception depth | Dip is the inclination of the hole from the horizontal. For example, avertically down drilled hole from the surface is -90°. Azimuth is | |||
| oWhole length. | reported in degrees as the grid direction toward which the hole isdrilled. | |||
| •If the exclusion of this information is justified on the basisthat the information is not Material and this exclusion doesnot detract from the understanding of the report, the Competent Person should clearly explain why this isthe case. | Down hole length of the hole is the distance from the surface to theend of the hole, as measured along the drill trace. Intersection depthis the distance down the hole as measured along the drill trace.Intersection width is the downhole distance of an intersection asmeasured along the drill trace. | |||
| Drill hole length is the distance from the surface to the end of thehole, as measured along the drill trace. | ||||
| Data aggregationmethods | •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 stated. | Drillholes have been composited to 1m intervals using LeapfrogGeo 2023.2.1 with residual lengths distributed evenly across allcomposites within the domain. There are no residual samples. | ||
| •Where aggregate intercepts incorporate short lengths ofhigh grade results and longer lengths of low grade results,the procedure used for such aggregation should be statedand some typical examples of such aggregations should beshown in detail. | The influence of extreme gold assays has been limited by topcutting assays across all domains. Top-cuts have beendetermined using a combination of log probability, log histogram,and mean variance plots. Top-cuts have been reviewed andapplied to the composites on a domain-by-domain basis. | |||
| •The assumptions used for any reporting of metal equivalent | The assay intervals are reported as down hole length as the truewidth variable is not known. | |||
| values should be clearly stated. | Gold assays are rounded to two decimal places. | |||
| No metal equivalent reporting is used or applied. |
| CRITERIA | JORC CODE EXPLANATION | COMMENTARY |
|---|---|---|
| Relationshipbetweenmineralisationwidths andintercept lengths | •These relationships are particularly important in the reporting of Exploration Results.•If the geometry of the mineralisation with respect to the drillhole angle is known, its nature should be reported.•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 intersection width is measured down the hole trace and maynot be the true width.All drill results are downhole intervals only due to the variableorientation of the mineralisation. |
| Diagrams | •Appropriate maps and sections (with scales) and tabulationsof intercepts should be included for any significant discoverybeing reported These should include, but not be limited to aplan view of drill hole collar locations and appropriate sectional views. | A plan view is contained within this document. New crosssectional interpretations are included. |
| Balancedreporting | •Where comprehensive reporting of all Exploration Results isnot practicable, representative reporting of both low and highgrades and/or widths should be practiced to avoid misleading reporting of Exploration Results. | Diamond and RC drill holes forming the basis of the MineralResource estimate have been reported previously. Additionaldrilling has informed the 2024 estimate. |
| Othersubstantiveexploration data | •Other exploration data, if meaningful and material, should bereported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnicaland rock characteristics; potential deleterious or contaminating substances. | No other exploration data is considered meaningful and materialto this document. |
| Further work | •The nature and scale of planned further work (e.g. tests forlateral extensions or depth extensions or large-scale stepout drilling).•Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive. | Future exploration may involve the drilling of more drillholes,both diamond core and reverse circulation, to further extend themineralised zones and to collect additional detailed data onknown mineralized zones. Geophysical exploration is alsoplanned as part of the future exploration of the permit. |
Section 3 Estimation and Reporting of Mineral Resources
| CRITERIA | JORC CODE EXPLANATION | COMMENTARY |
|---|---|---|
| Databaseintegrity | •Measures taken to ensure that data has not been corruptedby, for example, transcription or keying errors, between its initial collection and its use for Mineral Resource estimation purposes.•Data validation procedures used. | Data has been compiled into a relational SQL database; thesetup of this database precludes the loading of data which donot meet the required validation protocols. The data is managedusing DataShed© drill hole management software using SQLdatabase techniques. Validation checks are conducted usingSQL and DataShed© relational database standards. Data hasalso been checked against original hard copies for 100% of thedata, and where possible, loaded from original data sources. |
| Resolute completed the following basic validation checks on thedata supplied prior to resource estimation: | ||
| •Drill holes with overlapping sample intervals.•Sample intervals with no assay data or duplicate records.•Assay grade ranges.•Collar coordinate ranges.•Valid hole orientation data.There are no significant issues identified with the data. | ||
| Site visits | •Comment on any site visits undertaken by the Competent Person and the outcome of those visits.•If no site visits have been undertaken indicate why thisis the case. | Mr Patrick Smillie, a full time employee of Resolute MiningLimited and a Member of the Society for Mining, Metallurgy, andExploration is the Competent Person, who visited site in June,2024. |
| Geologicalinterpretation | •Confidence in (or conversely, the uncertainty of) the geologicalinterpretation of the mineral deposit.•Nature of the data used and of any assumptions made.•The effect, if any, of alternative interpretations on Mineral Resource estimation.•The use of geology in guiding and controlling Mineral Resource estimation. | The digital database used for the interpretation included loggedintervals for the key granodiorite unit. There is a moderate levelof confidence in the interpretation of the mineralised shearzoneprimarily due to the relatively wide-spaced drilling.Additionally Resolute's drilling program was entirely RC, thoughhistoric core has been reviewed and logged.The mineralised volume has been constructed using nestedLeapfrog Indicator wireframes at lower cut-offs of 0.2 g/t Au and |
| •The factors affecting continuity both of grade and geology. | 0.75 g/t Au. The overall shape of the mineralised unit has beenguided by a sectional interpretation of the trend of mineralisationwithin the mineralised shear. | |
| The factors affecting continuity both of grade and geology aremost likely to be associated with structural controls and localcomplexity, the knowledge of which is limited with the currentspacing of information. The broad approach to the mineralisationmodelling is an attempt to model an unbiased interpretation. | ||
| Dimensions | •The extent and variability of the Mineral Resource expressedas length (along strike or otherwise), plan width, and depth below surface to the upper and lower limits of the Mineral Resource. | Gold mineralisation varies from approximately 10 to 50m inthickness along the approximately 750m strike length of definedmineralisation. Mineralisation dips at approximately 70⁰ to theSSE and is defined to approximately 150m vertical depth. Thedeposit remains open at depth and to the west. |
| Estimation andmodellingtechniques | •The nature and appropriateness of the estimation technique(s)applied and key assumptions, including treatment of extremegrade values, domaining, interpolation parameters and maximum distance of extrapolation from data points. If a computerassisted estimation method was chosen include a descriptionof computer software and parameters used. | Estimation of gold grade has been completed using OrdinaryKriging (OK). Mineralisation has been constrained usingwireframes constructed using nested Leapfrog Indicatorwireframes constructed within the host granodiorite unit. Thesewireframes have been used to define domain codes forestimation. Drillholes have been flagged with the domain codeand composited using the domain code to segregate the data. |
| Domain boundary analysis has been undertaken with hardboundaries used for all domains. | ||
| •The availability of check estimates, previous estimates and/ormine production records and whether the Mineral Resourceestimate takes appropriate account of such data. | Drillholes have been composited to 1m intervals using LeapfrogGeo 2023.2.1 with residual lengths distributed evenly across allcomposites within the domain. There are no residual samples. |
CRITERIA JORC CODE EXPLANATION COMMENTARY • The assumptions made regarding recovery of by- products.
- Estimation of deleterious elements or other non-grade variables of economic significance (e.g. sulphur for acid mine drainage characterization).
- In the case of block model interpolation, the block size in relation to the average sample spacing and the search employed.
- In the case of block model interpolation, the block size in relation to the average sample spacing and the search employed.
- Any assumptions behind modelling of selective mining units.
- Any assumptions about correlation between variables.
- Description of how the geological interpretation was used to control the resource estimates.
- Discussion of basis for using or not using grade cutting or capping.
- The process of validation, the checking process used, the comparison of model data to drill hole data, and use of reconciliation data if available.
The influence of extreme gold assays has been limited by topcutting assays across all domains. Top-cuts have been determined using a combination of log probability, log histogram, and mean variance plots. Top-cuts have been reviewed and applied to the composites on a domain-by-domain basis.
Variography has been undertaken on a domain-by-domain basis in Datamine Supervisor v.8.14.3.3 using top-cut values.
Drillhole data spacing is 25m x 25m across the deposit, with a small gap of 50x50m spaced data under National Highway 7 which runs across the western portion of the deposit.
The block model parent block size is 10m (X) by 10m (Y) by 5m (Z) with up to 16 sub-blocks per parent block in the X and Y directions, and up to 8 sub-blocks per parent block in the Z direction. Sub-blocks have been estimated at the parent block scale. Block size is considered appropriate for the drillhole spacing throughout the deposit.
Grade estimation has been completed in three passes:
- ➢ Pass 1 estimation has been undertaken using a minimum of 4 and maximum of 25 sample composites (determined using Datamine Supervisor v.8.14 KNA tool) into a search ellipsoid with dimensions equal to half the variogram range of the domain.
- ➢ Pass 2 estimation has been undertaken with the same minimum/maximum samples as Pass 1 into a search ellipsoid twice the first pass.
- ➢ Pass 3 estimation has been undertaken with a minimum of 2 samples, and the same maximum number of samples as the first two passes into a search ellipsoid twice the second pass
- ➢ A maximum of three samples per drillhole has been used in the first two passes, with no limits set on the third pass..
The mineral resource estimate has been validated using visual validation tools, mean grade comparisons between the block model and declustered composite grade means, and swath plots comparing the input composite grades and the estimated block model grades by Northing, Easting, and RL.
Leapfrog Geo v2023.2.1 and Datamine Supervisor v8.14.3.3 software have been used for estimation.
No by-product recoveries were considered.
| Moisture | •Whether the tonnages are estimated on a dry basis or withnatural moisture, and the method of determination of the moisture content. | Moisture was not considered in the density assignment. |
|---|---|---|
| Cut-off parameters | •The basis of the adopted cut-off grade(s) or qualityparameters applied. | A nominal lower cut-off grade of 0.2g/t Au was used to definethe mineralised domains to encompass the completemineralised distribution and produce a model that reduces therisk of conditional bias that could be introduced where theconstraining interpretation and data selection is based on asignificantly higher grade than the natural geological gradecut-off. |
| The cut-off grade for reporting (above 0.5g/t Au and above 1.0g/t Au) was used in line with the previous resource reporting atthe nearby Mako deposit |
Mining factors or assumptions
• Assumptions made regarding possible mining methods, minimum mining dimensions and internal (or, if applicable, external) mining dilution.
The shallow occurrence of the mineralisation indicates that open pit mining is appropriate, in line with other deposits in the area.
| CRITERIA | JORC CODE EXPLANATION | COMMENTARY |
|---|---|---|
| It is always necessary as part of the process of determiningreasonable prospects for eventual economic extraction to consider potential mining methods, but the assumptions made regarding mining methods and parameters when estimating Mineral Resources may not always be rigorous. Where this is thecase, this should be reported with an explanation of the basisof the mining assumptions made. | The estimation methodology used results in an amount of edgedilution being incorporated into the blocks of the model. Noaccount of mining loss has been incorporated. | |
| Metallurgical factorsor assumptions | •The basis for assumptions or predictions regarding metallurgical amenability. It is always necessary as part of the processof determining reasonable prospects for eventual economicextraction to consider potential metallurgical methods, but theassumptions regarding metallurgical treatment processes andparameters made when reporting Mineral Resources may notalways be rigorous. Where this is the case, this should be reported with an explanation of the basis of the metallurgical assumptions made. | No specific assumptions were made regarding metallurgicalfactors for this estimate.Metallurgy is assumed to be similar to the nearby Mako deposit. |
| Environmentalfactors orassumptions | •Assumptions made regarding possible waste and process residue disposal options. It is always necessary as part of theprocess of determining reasonable prospects for eventual economic extraction to consider the potential environmental impacts of the mining and processing operation. While at thisstage the determination of potential environmental impacts,particularly for a green fields project, may not always be welladvanced, the status of early consideration of these potentialenvironmental impacts should be reported. Where these aspects have not been considered this should be reported withan explanation of the environmental assumptions made. | In order for mining to occur, the nearby village of Tomboronkotowould need to be relocated and a portion of National Highway 7rerouted. |
| Bulk density | •Whether assumed or determined. If assumed, the basis for theassumptions. If determined, the method used, whether wet ordry, the frequency of the measurements, the nature, size andrepresentativeness of the samples.•The bulk density for bulk material must have been measuredby methods that adequately account for void spaces (vugs,porosity, etc), moisture and differences between rock and alteration zones within the deposit.•Discuss assumptions for bulk density estimates used in theevaluation process of the different materials. | Specific gravity values for the Tombo Prospect have beenmeasured based on the Archimedean Principle using theimmersion method for individual core samples. A total of 1,406density measurements were available for use. This data hasbeen used as the basis of the block model bulk density.No relationship between density and gold content could beestablished.A default bulk density of 1.74t/m3 was assigned to oxide rocks.A default bulk density of 2.31t/m3 was assigned to transitionalrock.A default bulk density of 2.71t/m3 was assigned to fresh rock. |
| Classification | •The basis for the classification of the Mineral Resources intovarying confidence categories.•Whether appropriate account has been taken of all relevantfactors (i.e. relative confidence in tonnage/grade estimations,reliability of input data, confidence in continuity of geologyand metal values, quality, quantity and distribution of the data).•Whether the result appropriately reflects the Competent Person's view of the deposit. | The classification is based on the confidence in the continuity ofgeology and mineralisation and quality/confidence in theestimation and quality of assay data and bulk density data.The Indicated portion of the Resource was defined within awireframe constructed around areas populated in the first twoestimation passes, where drilling density is less than or equal to25x25m, and Kriging efficiency is generally >= 0.6.Mineralisation not classified as Indicated has been classified asInferred.The Mineral Resource estimate appropriately reflects theCompetent Person's view of the deposit. |
| Audits or reviews | •The results of any audits or reviews of Mineral•Resource estimates. | No external reviews have been completed. |
| Discussion ofrelative accuracy/confidence | •Where appropriate a statement of the relative accuracy andconfidence level in the Mineral Resource estimate using anapproach or procedure deemed appropriate by the Competent | The Mineral Resource Estimate has been classified based onthe quality of the data collected, the density of the data, theconfidence of the geologic and mineralisation models, and the |
CRITERIA JORC CODE EXPLANATION COMMENTARY Person. For example, the application of statistical or geostatistical procedures to quantify the relative accuracy of the resource within stated confidence limits, or, if such an approach is not deemed appropriate, a qualitative discussion of the factors that could affect the relative accuracy and confidence of
- the estimate. • The statement should specify whether it relates to global or local estimates, and, if local, state the relevant tonnages, which should be relevant to technical and economic evaluation. Documentation should include assumptions made and the procedures used.
- These statements of relative accuracy and confidence of the estimate should be compared with production data, where available.
grade estimation quality. No relative statistical or geostatistical confidence or risk measure has been applied.
The relative accuracy of the Mineral Resource Estimate is reflected in the reporting of Indicated and Inferred resource categories as defined by the JORC 2012 code guidelines.
No production data is available for comparison.
Mansala
Section 1 Sampling Techniques and Data
| CRITERIA | JORC CODE EXPLANATION | COMMENTARY |
|---|---|---|
| Samplingtechniques | •Nature and quality of sampling (e.g. cut channels, randomchips, 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 examples should not be taken as limitingthe broad meaning of sampling.•Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.•Aspects of the determination of mineralisation that are Material to the Public Report.•In cases where 'industry standard' work has been done thiswould be relatively simple (e.g. 'reverse circulation drillingwas used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In othercases more explanation may be required, such as wherethere is coarse gold that has inherent sampling problems.Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information. | Sampling has been by diamond drill coring and reversecirculation chip.Diamond core has been geologically logged to geologicalcontacts and sampled at 1m intervals. Core selected for assay issystematically cut lengthwise into half core by diamond bladerock saw, numbered and bagged before dispatch to thelaboratory for analysis.All core is photographed, wet and dry.Reverse circulation chips are geologically logged and sampledon regular lengths of 1m. Chip material selected for assay issystematically divided to a 1/8 proportion using a riffle splitterafter the sample is recovered from the cyclone. Samples arenumbered and bagged before dispatch to the laboratory foranalysis. |
| 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 diamondtails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc.). | Diamond core drilling with standard inner tubes. NTW diameter(57.1 mm) to target depth where possible with some smallerNQ2 intervals as tails. Core is marked and oriented.Reverse Circulation drilling with 4" or 4.5" hammer and 4" rodstring to target depth. |
| Drill samplerecovery | •Method of recording and assessing core and chip sample recoveries and results assessed.•Measures taken to maximise sample recovery and ensurerepresentative nature of the samples.•Whether a relationship exists between sample recovery andgrade and whether sample bias may have occurred due topreferential loss/gain of fine/coarse material. | Diamond core recoveries are measured in the core trays andrecorded as recovered metres and recovered % as part of thegeological logging process.RC recoveries are monitored by chip sample weight recording.Sample weights have been analysed for cyclicity with norelationship between sample weight and depth noted. |
| Logging | •Whether core and chip samples have been geologically andgeotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.•Whether logging is qualitative or quantitative in nature. Core(or costean, channel, etc.) photography.•The total length and percentage of the relevant intersectionslogged. | Diamond core has been geologically and geotechnically loggedto a level of detail to support appropriate classification andreporting of a Mineral Resource.Reverse circulation chip samples have been geologically loggedto a level of detail to support appropriate classification andreporting of a Mineral Resource.Total length of DD logged is 2,211m. Total length of RC loggedis 11,343m. |
| Sub-samplingtechniques andsamplepreparation | •If core, whether cut or sawn and whether quarter, half or allcore taken.•If non-core, whether riffled, tube sampled, rotary split, etc.and whether sampled wet or dry.•For all sample types, the nature, quality and appropriatenessof the sample preparation technique.•Quality control procedures adopted for all sub-samplingstages to maximise representivity of samples.•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.•Whether sample sizes are appropriate to the grain size ofthe material being sampled. | Core has been systematically cut lengthwise into half core with adiamond saw.The main RC sample is recovered from the cyclone, with a 1/8sample taken with a riffle splitter after weighing. Sub-sampleweight is recorded, sample is bagged in pre numbered plasticand sample tickets are inserted and bag is sealed for transport topreparation facility.Blanks or certified reference material are inserted one in twentysamples. An industry standard, documented process of samplemark-up, core splitting, bagging and ticketing and recording is inplace. The laboratories sample preparation followed a standarddocumented process flow with whole sample crushing (betterthan 70% passing 2mm) followed by a 1kg riffle split forpulverisation to 75 micron (better than 85% pass). |
| CRITERIA | JORC CODE EXPLANATION | COMMENTARY |
|---|---|---|
| Master pulps of 250g were split and placed in airtight, sealedbags and sent by courier to the assaying laboratory for analysis. | ||
| Sample size of 2-6kg is appropriate for the grain size of material. | ||
| Quality of assaydata andlaboratory tests | •The nature, quality and appropriateness of the assaying andlaboratory procedures used and whether the technique isconsidered partial or total. | Au assays are determined by fire assay with AAS finish.Laboratory and assay procedures are appropriate for MineralResource estimation. |
| •For geophysical tools, spectrometers, handheld XRF instruments, etc., the parameters used in determining the analysisincluding instrument make and model, reading times, calibrations factors applied and their derivation, etc. | QAQC consisted of standards, blanks and laboratory duplicates(both coarse and pulp). The QAQC sample results showedacceptable levels of accuracy and precision. | |
| •Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) andwhether acceptable levels of accuracy (i.e. lack of bias) andprecision have been established. | The assay data is considered to be suitable for Mineral Resourceestimation. | |
| Verification ofsampling andassaying | •The verification of significant intersections by either independent or alternative company personnel.•The use of twinned holes. | All aspects of the core sampling, assay procedures and QA/QCprogram have been reviewed and were judged to be suitable foruse in the estimation of Mineral Resources. |
| •Documentation of primary data, data entry procedures, dataverification, data storage (physical and electronic) protocols. | Drill hole assay result data has been checked against the originalhardcopy laboratory assay reports for a representative number ofholes. | |
| •Discuss any adjustment to assay data. | Below detection limit values (negatives) have been replaced withhalf of detection limit. | |
| No intervals have been left unsampled. | ||
| Location of datapoints | •Accuracy and quality of surveys used to locate drill holes(collar and down-hole surveys), trenches, mine workingsand other locations used in Mineral Resource estimation.•Specification of the grid system used.•Quality and adequacy of topographic control. | Drillholes have been surveyed by a contract differential GPS(dGPS) surveyor to +/-3cm accuracy.Downhole surveys have been completed with a vairiety ofdifferent tools, single-shot, multi-shot, and north-seeking gyrotools have been used at intervals ranging from 10 to 30m |
| downhole.Grid system is based on the UTM28N grid on the WGS84ellipsoid. Survey heights are based on PRS097 (withindependent checks on AusPos) and are orthometric (i.e. msl). | ||
| A topographic surface with approximately 1m resolution hasbeen constructed using regional 5m contours refined with dGPSsurvey lines collected during a 2023 IP survey as well as dGPScollar positions. | ||
| Data spacing anddistribution | •Data spacing for reporting of Exploration Results.•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 | Data spacing is a reasonably consistent 40m (X) by 100m (Y)across the deposit. This spacing is adequate to determine thegeological and grade continuity for reporting of an InferredMineral Resources. |
| procedure(s) and classifications applied.•Whether sample compositing has been applied. | Drill samples were composited to 1m for use in the estimate withresidual lengths equally distributed across previous intervals | |
| Orientation ofdata in relation togeologicalstructure | •Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this isknown, considering the deposit type.•If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to haveintroduced a sampling bias, this should be assessed and reported if material. | Geological structures are interpreted to be dipping near verticallyand trending north-northeast/south-soutwest. Drilling intersectsstructures from the east side, generally dipping -85⁰ belowhorizontal, with azimuths at approximately 10⁰ . |
| Drilling primarily targeted the sedimentary unit which containedthe most significant mineralisation and dipped at about 85⁰ tothe south. The drilling orientation is adequate for a non-biasedassessment of the orebody with respect to interpreted structuresand interpreted controls on mineralisation. | ||
| Sample security | •The measures taken to ensure sample security. | Labelling and submission of samples complies with industrystandard. |
| CRITERIA | JORC CODE EXPLANATION | COMMENTARY |
|---|---|---|
| Audits or reviews | •The results of any audits or reviews of sampling techniquesand data. | An independent audit of the sample preparation laboratory hasbeen undertaken in 2018 (Fis, 2018) found no material issueswith the sampling methods or data. |
Section 2 Reporting of Exploration Results
| CRITERIA | JORC CODE EXPLANATION | COMMENTARY |
|---|---|---|
| Mineral tenementand land tenurestatus | •Type, reference name/number, location and ownership including agreements or material issues with third parties suchas joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park andenvironmental settings. | To date no exploration results have been reported on anexploration permit, owned 100% by Resolute.The permit is currently under renewal. |
| •The security of the tenure held at the time of reporting alongwith any known impediments to obtaining a licence to operate in the area. | ||
| Exploration doneby other parties | •Acknowledgment and appraisal of exploration by other parties. | No exploration was undertaken on the Mansala prospect prior toResolute's acquisition of the property. |
| Geology | •Deposit type, geological setting and style of mineralisation. | Mineralisation is currently interpreted to be steeply dipping within thesedimentary unit. Intensity of gold mineralisation appears to correlatewith the intensity of arsenopyrite and quartz vein development andexhibits good lateral and vertical continuity through the mineralisedzone. |
| Mineralisation has a relatively simple geometry comprising a zoneapproximately 40m in width, along the 1,000m strike length drilled todate. The zone dips near vertically. | ||
| Drill holeInformation | •A summary of all information material to the understandingof the exploration results including a tabulation of the following information for all Material drill holes: | Easting, Northing and RL of the drill hole collars are based on theUTM28N grid on the WGS84 ellipsoid. Survey heights are based onPRS097 and are orthometric (i.e. msl). |
| oeasting and northing of the drill hole collar | Dip is the inclination of the hole from the horizontal. For example, a | |
| oelevation or RL (Reduced Level – elevation above sealevel in metres) of the drill hole collar | vertically down drilled hole from the surface is -90°. Azimuth isreported in degrees as the grid direction toward which the hole is | |
| odip and azimuth of the hole | drilled.Down hole length of the hole is the distance from the surface to the | |
| odown hole length and interception depthoWhole length. | end of the hole, as measured along the drill trace. Intersection depth | |
| •If the exclusion of this information is justified on the basisthat the information is not Material and this exclusion does | is the distance down the hole as measured along the drill trace.Intersection width is the downhole distance of an intersection asmeasured along the drill trace. | |
| not detract from the understanding of the report, the Competent Person should clearly explain why this isthe case. | Drill hole length is the distance from the surface to the end of thehole, as measured along the drill trace. | |
| Data aggregationmethods | •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 Mate | Drillholes have been composited to 1m intervals using LeapfrogGeo 2023.2.3 with residual lengths distributed evenly across allcomposites within the domain. There are no residual samples. |
| rial and should be stated. | The influence of extreme gold assays has been limited by topcutting assays across all domains. Top-cuts have beendetermined using a combination of log probability, log histogram,and mean variance plots. Top-cuts have been reviewed andapplied to the composites on a domain-by-domain basis. | |
| •Where aggregate intercepts incorporate short lengths ofhigh grade results and longer lengths of low grade results,the procedure used for such aggregation should be statedand some typical examples of such aggregations should be | ||
| shown in detail.•The assumptions used for any reporting of metal equivalentvalues should be clearly stated. | The assay intervals are reported as down hole length as the truewidth variable is not known. | |
| Gold assays are rounded to two decimal places. | ||
| No metal equivalent reporting is used or applied. | ||
| Relationshipbetweenmineralisation | •These relationships are particularly important in the reporting of Exploration Results. | The intersection width is measured down the hole trace and maynot be the true width. |
| widths andintercept lengths | •If the geometry of the mineralisation with respect to the drillhole angle is known, its nature should be reported. | All drill results are downhole intervals only due to the variableorientation of the mineralisation. |
| •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'). |
| CRITERIA | JORC CODE EXPLANATION | COMMENTARY |
|---|---|---|
| Diagrams | •Appropriate maps and sections (with scales) and tabulationsof intercepts should be included for any significant discoverybeing reported These should include, but not be limited to aplan view of drill hole collar locations and appropriate sectional views. | A plan view is contained within this document. |
| Balancedreporting | •Where comprehensive reporting of all Exploration Results isnot practicable, representative reporting of both low and highgrades and/or widths should be practiced to avoid misleading reporting of Exploration Results. | Diamond and RC drill holes forming the basis of the MineralResource estimate are reported herein. |
| Othersubstantiveexploration data | •Other exploration data, if meaningful and material, should bereported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnicaland rock characteristics; potential deleterious or contaminating substances. | No other exploration data is considered meaningful and materialto this document. |
| Further work | •The nature and scale of planned further work (e.g. tests forlateral extensions or depth extensions or large-scale stepout drilling).•Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive. | Future exploration may involve the drilling of more drillholes,both diamond core and reverse circulation, to further extend themineralised zones and to collect additional detailed data onknown mineralized zones. |
Section 3 Estimation and Reporting of Mineral Resources
| CRITERIA | JORC CODE EXPLANATION | COMMENTARY |
|---|---|---|
| Databaseintegrity | •Measures taken to ensure that data has not been corruptedby, for example, transcription or keying errors, between its initial collection and its use for Mineral Resource estimation purposes.•Data validation procedures used. | Data has been compiled into a relational SQL database; thesetup of this database precludes the loading of data which donot meet the required validation protocols. The data is managedusing DataShed© drill hole management software using SQLdatabase techniques. Validation checks are conducted usingSQL and DataShed© relational database standards. Data hasalso been checked against original hard copies for 100% of thedata, and where possible, loaded from original data sources. |
| Resolute completed the following basic validation checks on thedata supplied prior to resource estimation:•Drill holes with overlapping sample intervals.•Sample intervals with no assay data or duplicate records.•Assay grade ranges.•Collar coordinate ranges. | ||
| •Valid hole orientation data. | ||
| There are no significant issues identified with the data. | ||
| Site visits | •Comment on any site visits undertaken by the Competent Person and the outcome of those visits.•If no site visits have been undertaken indicate why thisis the case. | Mr Patrick Smillie, a full-time employee of Resolute MiningLimited and a Member of the Society for Mining Metallurgy andExploration is the Competent Person. He visited site in June,2024. |
| Geologicalinterpretation | •Confidence in (or conversely, the uncertainty of) the geologicalinterpretation of the mineral deposit.•Nature of the data used and of any assumptions made.•The effect, if any, of alternative interpretations on Mineral Resource estimation.•The use of geology in guiding and controlling Mineral Resource estimation. | The digital database used for the interpretation included loggedintervals for the key sedimentary unit. There is a moderate levelof confidence in the interpretation of the mineralised shear zoneprimarily due to the relatively wide-spaced drilling.The mineralised volume has been constructed using a LeapfrogIndicator wireframe at a cut-off of 0.25 g/t Au. The overall shapeof the mineralised unit has been guided by a sectionalinterpretation based on logged grain size and the trend of |
| •The factors affecting continuity both of grade and geology. | mineralisation within the mineralised shear.The factors affecting continuity both of grade and geology aremost likely to be associated with structural controls and localcomplexity, the knowledge of which is limited with the currentspacing of information. There appears to be a direct correlationbetween grain size, arsenopyrite concentration, and goldmineralistation. The broad approach to the mineralisationmodelling is an attempt to model an unbiased interpretation. | |
| Dimensions | •The extent and variability of the Mineral Resource expressedas length (along strike or otherwise), plan width, and depth below surface to the upper and lower limits of the Mineral Resource. | Gold mineralisation varies from several metres to over 20m inthickness along the approximately 1km strike length currentlydefined. Mineralisation dips near-vertically, striking atappromsimately 10⁰ and has been defined to approximately150m vertical depth. The deposit remains open at depth andalong strike. |
| Estimation andmodellingtechniques | •The nature and appropriateness of the estimation technique(s)applied and key assumptions, including treatment of extremegrade values, domaining, interpolation parameters and maximum distance of extrapolation from data points. If a computerassisted estimation method was chosen include a descriptionof computer software and parameters used. | Estimation of gold grade has been completed using OrdinaryKriging (OK). Mineralisation has been constrained usingLeapfrog Indicator wireframes constructed within the host unit.The wireframe has been used to define domain codes forestimation. Drillholes have been flagged with the domain codeand composited using the domain code to segregate the data. |
| Domain boundary analysis has been undertaken with hardboundaries used for all domains. | ||
| Drillholes have been composited to 1m intervals using LeapfrogGeo 2023.2.0 with residual lengths distributed evenly across allcomposites within the domain. There are no residual samples. |
nal) mining dilution.
| CRITERIA | JORC CODE EXPLANATION | COMMENTARY |
|---|---|---|
| •The availability of check estimates, previous estimates and/ormine production records and whether the Mineral Resourceestimate takes appropriate account of such data.•The assumptions made regarding recovery of by- products.•Estimation of deleterious elements or other non-grade variables of economic significance (e.g. sulphur for acid mine drainage characterization).•In the case of block model interpolation, the block size in relation to the average sample spacing and the search employed.•In the case of block model interpolation, the block size in relation to the average sample spacing and the search employed.•Any assumptions behind modelling of selective mining units.•Any assumptions about correlation between variables.•Description of how the geological interpretation was used tocontrol the resource estimates.•Discussion of basis for using or not using grade cutting or capping.•The process of validation, the checking process used, thecomparison of model data to drill hole data, and use of reconciliation data if available. | The influence of extreme gold assays has been limited by topcutting assays across all domains. Top-cuts have beendetermined using a combination of log probability, log histogram,and mean variance plots. Top-cuts have been reviewed andapplied to the composites on a domain-by-domain basis.Variography has been undertaken on a domain-by-domain basisin Datamine Supervisor v.8.14.3.3 using top-cut values.Drillhole data spacing ranges from 25m x 25m in densely drilledareas to approximately 50m x 50m.The block model parent block size is 25m (X) by 25m (Y) by 5m(Z) with up to 16 sub-blocks per parent block in the X and Ydirections, and up to 8 sub-blocks per parent block in the Zdirection. Sub-blocks have been estimated at the parent blockscale. Block size is considered appropriate for the drillholespacing throughout the deposit.Grade estimation has been completed in three passes:➢Pass 1 estimation has been undertaken using a minimum of 4 and maximum of 26 sample composites (determined using Datamine Supervisor v.8.14 KNA tool)into a search ellipsoid with dimensions equal to half thevariogram range of the domain.➢Pass 2 estimation has been undertaken with the sameminimum/maximum samples as Pass 1 into a search ellipsoid twice the first pass.➢Pass 3 estimation has been undertaken with the sameminimum and maximum number of samples as the firsttwo passes into a search ellipsoid twice the second pass➢A maximum of four samples per drillhole has been usedin the first two passes, with no limits set on the thirdpassThis is the first mineral resource estimate released for theMansala deposit.The mineral resource estimate has been validated using visualvalidation tools, mean grade comparisons between the blockmodel and declustered composite grade means, and swath plotscomparing the input composite grades and the estimated blockmodel grades by Northing, Easting, and RL.Leapfrog Geo v2023.2.3 and Datamine Supervisor v8.14.3.3software have been used for estimation.No by-product recoveries were considered. | |
| Moisture | •Whether the tonnages are estimated on a dry basis or withnatural moisture, and the method of determination of the moisture content. | Moisture was not considered in the density assignment. |
| Cut-off parameters | •The basis of the adopted cut-off grade(s) or qualityparameters applied. | A nominal lower cut-off grade of 0.25g/t Au was used to definethe mineralised domains to encompass the completemineralised distribution and produce a model that reduces therisk of conditional bias that could be introduced where theconstraining interpretation and data selection is based on asignificantly higher grade than the natural geological gradecut-off.The cut-off grade for reporting is similar to other deposits in theSiguiri basin. |
| Mining factors orassumptions | •Assumptions made regarding possible mining methods, minimum mining dimensions and internal (or, if applicable, exter | The shallow occurrence of the mineralisation indicates that openpit mining is appropriate, in line with other deposits in the area. |
| CRITERIA | JORC CODE EXPLANATION | COMMENTARY |
|---|---|---|
| It is always necessary as part of the process of determiningreasonable prospects for eventual economic extraction to consider potential mining methods, but the assumptions made regarding mining methods and parameters when estimating Mineral Resources may not always be rigorous. Where this is thecase, this should be reported with an explanation of the basisof the mining assumptions made. | The estimation methodology used results in an amount of edgedilution being incorporated into the blocks of the model. Noaccount of mining loss has been incorporated. | |
| Metallurgical factorsor assumptions | •The basis for assumptions or predictions regarding metallurgical amenability. It is always necessary as part of the processof determining reasonable prospects for eventual economicextraction to consider potential metallurgical methods, but theassumptions regarding metallurgical treatment processes andparameters made when reporting Mineral Resources may notalways be rigorous. Where this is the case, this should be reported with an explanation of the basis of the metallurgical assumptions made. | No specific assumptions were made regarding metallurgicalfactors for this estimate. . |
| Environmentalfactors orassumptions | •Assumptions made regarding possible waste and process residue disposal options. It is always necessary as part of theprocess of determining reasonable prospects for eventual economic extraction to consider the potential environmental impacts of the mining and processing operation. While at thisstage the determination of potential environmental impacts,particularly for a green fields project, may not always be welladvanced, the status of early consideration of these potentialenvironmental impacts should be reported. Where these aspects have not been considered this should be reported withan explanation of the environmental assumptions made. | No assumptions were made regarding environmentalrestrictions. |
| Bulk density | •Whether assumed or determined. If assumed, the basis for theassumptions. If determined, the method used, whether wet ordry, the frequency of the measurements, the nature, size andrepresentativeness of the samples.•The bulk density for bulk material must have been measuredby methods that adequately account for void spaces (vugs,porosity, etc), moisture and differences between rock and al | Specific gravity values for the Mansala Prospect have beenmeasured based on the Archimedean Principle using theimmersion method for individual core samples. A total of 713density measurements were available for use, with the vastmajority of these being in fresh rock below the saprock andlaterite domains. This data has been used as the basis of theblock model bulk density. |
| teration zones within the deposit.•Discuss assumptions for bulk density estimates used in the | No relationship between density and gold content could beestablished. | |
| evaluation process of the different materials. | A default bulk density of 1.76t/m3 was assigned to oxide rocks. | |
| A default bulk density of 2.16t/m3 was assigned to transitionalrock. | ||
| Bulk density has been estimated in the Fresh domain, with avalue of . 2.72t/m3 assigned to unestimated blocks. | ||
| Classification | •The basis for the classification of the Mineral Resources intovarying confidence categories. | The classification is based on the confidence in the continuity ofgeology and mineralisation and quality/confidence in theestimation and quality of assay data and bulk density data.Drillhole spacing does not support classification above Inferred.The Mineral Resource estimate appropriately reflects theCompetent Person's view of the deposit. |
| •Whether appropriate account has been taken of all relevantfactors (i.e. relative confidence in tonnage/grade estimations,reliability of input data, confidence in continuity of geologyand metal values, quality, quantity and distribution of the data). | ||
| •Whether the result appropriately reflects the Competent Person's view of the deposit. | ||
| Audits or reviews | •The results of any audits or reviews of Mineral•Resource estimates. | No external reviews have been completed. |
| Discussion ofrelative accuracy/confidence | •Where appropriate a statement of the relative accuracy andconfidence level in the Mineral Resource estimate using anapproach or procedure deemed appropriate by the CompetentPerson. For example, the application of statistical or geostatistical procedures to quantify the relative accuracy of the resource within stated confidence limits, or, if such an approach | Although the estimate for gold is considered to be without bias, itis for some of the estimated volume based on relatively widespaced data. The estimate is therefore of moderate confidenceand expected to be of moderate relative accuracy at the local |
| CRITERIA | JORC CODE EXPLANATION | COMMENTARY |
|---|---|---|
| is not deemed appropriate, a qualitative discussion of the factors that could affect the relative accuracy and confidence ofthe estimate.•The statement should specify whether it relates to global or local estimates, and, if local, state the relevant tonnages, whichshould be relevant to technical and economic evaluation. Documentation should include assumptions made and the procedures used.•These statements of relative accuracy and confidence of theestimate should be compared with production data, whereavailable. | scale when drilling density exceeds 50m x 50m. Infill drilling willbe required to improve the confidence of the local estimate. |