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RESOLUTION MINERALS LTD — Capital/Financing Update 2018
Feb 4, 2018
65717_rns_2018-02-04_aebb598a-a8ff-46e5-a550-8032f34f997d.pdf
Capital/Financing Update
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5 Februar 2018 y
ASX RELEASE
ASX: N27, N27O
FINAL 2017 RC DRILLING RESULTS
-
Step out drilling at Stanton cobalt resource confirms mineralisation open to south-east and north-west
-
Highlights include
-
19 metres at 0.29% cobalt (Co) on southern extension to Stanton Resource ▪ Including 1 metre @ 1.31% Co
-
5 metres a 0.19% Co
-
2 metres at 0.19% Co
-
Results from scout drillholes on regional targets to be combined with recent geophysics to define drilling planned in 2018.
-
Potential for up to 6 (six) Stanton style cobalt deposits at Running Creek, east of Running Creek, Stanton 2, Stanton 3, Archangel, and north of Stanton from regional results
-
Diamond drilling results due late March 2018
N27’s Wollogorang Cobalt Project is a sediment hosted cobalt mineralisation system which has potential for low CAPEX and OPEX options due to:
-
Non-refractory mineralisation (predominantly siegenite - a cobalt sulphide mineral)
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Cobalt dominant mineralisation occurs from surface
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Flat lying sediment hosted mineralisation - likely suitable for open pit operations
Stanton Cobalt Deposit
Northern Cobalt has drilled 70 RC and 10 diamond core holes on our existing Stanton Cobalt resource, aiming to upgrade the existing inferred Mineral Resource of 500,000 tonnes of 0.17% Co, 0.09% Ni, 0.11% Cu, and obtain material for metallurgy studies and use in scoping studies.
– WEBINAR Q&A with our Managing Director at 2PM TODAY (Melbourne time) register here…
CAPITAL STRUCTURE
Ordinary Shares Issued 38.9M
Options
Listed 7.4 M @ 20c Unlisted 12.3 M @ 25c
Performance Shares Class A 9.6 M Class B 3.6 M
Last Capital Raise 20 Sept 2017 $4.2M @ 20c (IPO)
BOARD
Len Dean - Chair Michael Schwarz - MD Duncan Chessell - Exec Dir Andrew Shearer - NED Jarek Kopias - Co Sec
WWW.NORTHERNCOBALT.COM.AU
EMAIL US
67 GOODWOOD ROAD WAYVILLE SA 5034 AUSTRALIA
ASX: N27, N27O
Figure 1. Recent and historical drilling over RTP 1VD magnetic image, Stanton Cobalt Deposit
Significant intersections from drilling at the Stanton Cobalt Deposit include:
-
4 metres at 0.11% Co from 80 metres (Drill hole NC17RC057)
-
5 metres at 0.19% Co from 5 metres (Drill hole NC17RC126) and
-
19 metres at 0.29% Co from 11 metres (Drill hole NC17RC126); including
o1 metre of 1.31% Co -
2 metres at 0.19% Co from 1m, (Drill hole NC17RC127)
Importantly these results confirm that the Stanton Cobalt Deposit remains open to the south-east and north-west. A significant continuation of the magnetic low (purple area, Figure 1) occurs to the north-east of the currently defined mineralisation. This signature is associated with mineralisation at Stanton and indicates the significant potential for extensions of the resource in this direction.
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ASX: N27, N27O
Figure 2. Modelled near surface cobalt distribution at the Stanton Cobalt Deposit
Regional cobalt potential
Prior to the onset of the wet season Northern Cobalt completed 57 drill holes on a broad spacing across a limited number of the previously identified targets. The spacing between most of the holes was ~100m, infill drilling was not possible due to the onset of the wet season. It is worth noting that the Stanton Deposit currently has a diameter of ~200m and that the spacing of the scout drilling will need to be infilled to best test the targets. Results from the regional drilling will be combined with the new geophysical and geochemical methods defined by Northern Cobalt to target the planned drilling in 2018.
Northern Cobalt has identified 6 (six) prospects, from recent and historical regional drilling, that have the potential to host cobalt mineralisation like the Stanton Cobalt Deposit. A further 15 targets were not tested last year due to the onset of the wet season.
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ASX: N27, N27O
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Figure 3. Comparison of cobalt distribution at the
Stanton Cobalt Deposit with regional drill holes
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Please note: The “Stanton cobalt halo” overlain at other prospects is meant to demonstrate the potential for similar mineralisation and does not represent a drilled resource
Figure 2, shows the distribution of near surface cobalt at Stanton modelled from drilling. Regional drill holes with cobalt intersections above 500 ppm have been identified and compared with the distribution of cobalt at Stanton (Figure 3). The diagram shows that drill holes at Stanton 2 and Stanton 3 prospects both have numerous intersections above 500ppm cobalt and have the potential to define a mineralising system on the scale of Stanton. Drill holes at Running Creek, east of Running Creek, Archangel and to the north of Stanton also have this potential. The company is currently incorporating this information into the upcoming drill program early this year.
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ASX: N27, N27O
Next steps
Northern Cobalt is in the process of finalising drill targets and submitting documentation for drilling approvals for the upcoming drilling program early this year. The company has also purchased a portable XRF device which specialises in the direct detection of cobalt in surface and drilling samples. An extensive research and development program of testing and validation against recent drill samples and analyses will be undertaken prior to deployment in the field. This device will allow analysis of drill samples as they are collected and immediate detection of mineralisation as drilling progresses as opposed to the >1 month turn around for sample analysis in the previous drilling program.
Competent Person’s Statement
The information in this report that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Michael Schwarz who is a member of the Australian Institute of Geoscientists. Mr Michael Schwarz is a full-time employee of the company and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Michael Schwarz consents to the inclusion in the report of the matters based on his information in the form in which it is appears.
This report contains historical exploration results announced on 20 September 2017 as “Prospectus” (historical estimate). The Company confirms it is not in possession of any new information or data relating to the historical estimate that materially impacts on the reliability of the estimates or the Company’s ability to verify the historical estimate. Supporting information provided in the announcement of 20 September 2017 continues to apply and has not materially changed. This report also contains exploration results announced on 24 November 2017 as “High Grade First Drill Results - Stanton Cobalt Deposit”, and 29 November 2017 as “Further High-Grade Cobalt Results - Stanton Cobalt Deposit”, on 7 December 2017 “Stanton Cobalt Resource Remains Open in Multiple Directions”
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ASX: N27, N27O
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Location of Northern Cobalt’s projects
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Project Location
The Wollogorang Cobalt Project occurs in the far north-eastern corner of the Northern Territory, a mining friendly jurisdiction. The Project area is 180 km to the south-east of the population centre of Borroloola. The capital city of Darwin is 870 km to the north-west and the McArthur River Mine is approximately 150 km to the west-northwest.
For further information please contact: Michael Schwarz Managing Director, Northern Cobalt Ltd M: +61 402 101 790 E: [email protected]
Please sign up to our newsletter via our website for invitations to webinars and important announcements www.northerncobalt.com.au
6
Appendix 1. Significant intersections from drill holes – Stanton Cobalt Resource
Note: Significant intercepts reported using a cut-off grade of 0.05 % Co (500ppm) with maximum internal dilution of 2m of average 0.02% Co (200ppm)
| Hole_ID | Prospect | Easting | Northing | RL | Dip | Azimuth | Total | Intercept | Intercept | Interval (m) | Co (%) | Cu (%) | Ni (%) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (MGAZ53) | (MGAZ53) |
(MGAZ53) | (mag) | depth (m) | From (m) |
To (m) | |||||||
| NC17RC001 | Stanton |
793620 | 8148511 |
75.7 | -90 | 360 |
100 | 2 |
6 | 4 | 0.05 | 0.05 | 0.03 |
| 20 | 22 | 2 | 0.05 | 0.33 | 0.03 | ||||||||
| NC17RC002 | Stanton |
793620 | 8148490 |
75.9 | -90 | 360 |
100 | 10 |
14 | 4 | 0.05 | 0.06 | 0.03 |
| 70 | 86 | 16 | 0.10 | 0.09 | 0.06 | ||||||||
| NC17RC003 | Stanton |
793620 | 8148470 |
76.1 | -90 | 360 |
100 | 5 |
12 | 7 | 0.15 | 0.24 | 0.10 |
| 15 | 16 | 1 | 0.19 | 0.24 | 0.11 | ||||||||
| 19 | 20 | 1 | 0.12 | 0.27 | 0.17 | ||||||||
| 22 | 23 | 1 | 0.05 | 0.13 | 0.03 | ||||||||
| 25 | 62 | 37 | 0.28 | 0.12 | 0.16 | ||||||||
| NC17RC004 | Stanton |
793620 | 8148450 |
76.3 | -90 | 360 |
100 | 0 |
14 | 14 | 0.11 | 0.18 | 0.06 |
| 20 | 50 | 30 | 0.17 | 0.07 | 0.11 | ||||||||
| including | 34 | 44 | 10 | 0.33 | 0.10 | 0.17 | |||||||
| 55 | 56 | 1 | 0.18 | 0.00 | 0.01 | ||||||||
| NC17RC005 | Stanton |
793620 | 8148430 |
76.4 | -90 | 360 |
100 | 5 |
9 | 4 | 0.08 | 0.27 | 0.04 |
| 13 | 15 | 2 | 0.14 | 0.41 | 0.05 | ||||||||
| 17 | 20 | 3 | 0.08 | 0.10 | 0.06 | ||||||||
| 22 | 28 | 6 | 0.11 | 0.09 | 0.06 | ||||||||
| 32 | 50 | 18 | 0.33 | 0.07 | 0.08 | ||||||||
| including | 32 | 33 | 1 | 2.13 | 0.15 | 0.18 | |||||||
| and | 44 | 45 | 1 | 1.50 | 0.15 | 0.17 | |||||||
| 54 | 55 | 1 | 0.08 | 0.00 | 0.01 | ||||||||
| NC17RC005 | Stanton |
793620 | 8148430 |
76.4 | -90 | 360 |
100 | 64 |
68 | 4 | 0.08 | 0.00 | 0.01 |
| 72 | 80 | 8 | 0.15 | 0.01 | 0.03 | ||||||||
| NC17RC006 | Stanton |
793620 | 8148410 |
76.6 | -90 | 360 |
100 | 1 |
10 | 9 | 0.25 | 0.14 | 0.06 |
| 12 | 19 | 7 | 0.12 | 0.08 | 0.08 |
| Hole_ID | Prospect | Easting | Northing | RL | Dip | Azimuth | Total | Intercept | Intercept | Interval (m) | Co (%) | Cu (%) | Ni (%) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (MGAZ53) | (MGAZ53) |
(MGAZ53) | (mag) | depth (m) | From (m) |
To (m) | |||||||
| 20 | 23 | 3 | 0.09 | 0.02 | 0.04 | ||||||||
| NC17RC007 | Stanton |
793600 | 8148390 |
77.4 | -90 | 360 |
91 | 6 |
7 | 1 | 0.07 | 0.18 | 0.03 |
| NC17RC008 | Stanton |
793600 | 8148410 |
77.0 | -90 | 360 |
96 | 33 |
34 | 1 | 0.21 | 0.01 | 0.15 |
| 76 | 77 | 1 | 0.13 | 0.11 | 0.06 | ||||||||
| NC17RC009 | Stanton |
793600 | 8148430 |
76.7 | -90 | 360 |
100 | 12 |
13 | 1 | 0.07 | 0.05 | 0.02 |
| 15 | 18 | 3 | 0.10 | 0.23 | 0.05 | ||||||||
| 19 | 20 | 1 | 0.05 | 0.04 | 0.03 | ||||||||
| 23 | 35 | 12 | 0.15 | 0.03 | 0.06 | ||||||||
| 38 | 45 | 7 | 0.23 | 0.64 | 0.14 | ||||||||
| 72 | 80 | 8 | 0.11 | 0.13 | 0.06 | ||||||||
| NC17RC010 | Stanton |
793599 | 8148450 |
76.4 | -90 | 360 |
100 | 3 |
4 | 1 | 0.14 | 1.62 | 0.03 |
| 20 | 26 | 6 | 0.15 | 0.08 | 0.08 | ||||||||
| 27 | 28 | 1 | 0.05 | 0.10 | 0.05 | ||||||||
| 31 | 39 | 8 | 0.12 | 0.00 | 0.02 | ||||||||
| 40 | 41 | 1 | 0.09 | 0.00 | 0.01 | ||||||||
| 66 | 67 | 1 | 0.07 | 0.10 | 0.03 | ||||||||
| 69 | 70 | 1 | 0.08 | 0.01 | 0.03 | ||||||||
| 73 | 83 | 10 | 0.15 | 0.33 | 0.08 | ||||||||
| NC17RC011 | Stanton |
793600 | 8148470 |
76.2 | -90 | 360 |
100 | 9 |
13 | 4 | 0.08 | 0.16 | 0.04 |
| 23 | 24 | 1 | 0.06 | 0.17 | 0.03 | ||||||||
| 26 | 27 | 1 | 0.07 | 0.12 | 0.05 | ||||||||
| 34 | 35 | 1 | 0.06 | 0.00 | 0.01 | ||||||||
| 44 | 45 | 1 | 0.06 | 0.00 | 0.00 | ||||||||
| 66 | 67 | 1 | 0.05 | 0.03 | 0.02 | ||||||||
| 69 | 84 | 15 | 0.21 | 0.63 | 0.12 | ||||||||
| NC17RC012 | Stanton |
793600 | 8148490 |
76.1 | -90 | 360 |
100 | 25 |
26 | 1 | 0.05 | 0.32 | 0.03 |
| 84 | 88 | 4 | 0.05 | 0.02 | 0.02 | ||||||||
| NC17RC013 | Stanton |
793600 | 8148510 |
76.1 | -90 | 360 |
100 | 87 |
88 | 1 | 0.10 | 0.02 | 0.01 |
| NC17RC014 | Stanton |
793580 | 8148470 |
76.6 | -90 | 360 |
100 | 74 |
82 | 8 | 0.09 | 0.05 | 0.05 |
8
| Hole_ID | Prospect | Easting | Northing | RL | Dip | Azimuth | Total | Intercept | Intercept | Interval (m) | Co (%) | Cu (%) | Ni (%) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (MGAZ53) | (MGAZ53) |
(MGAZ53) | (mag) | depth (m) | From (m) |
To (m) | |||||||
| NC17RC015 | Stanton |
793580 | 8148450 |
76.7 | -90 | 360 |
100 | 80 |
84 | 4 | 0.13 | 0.12 | 0.05 |
| NC17RC016 | Stanton |
793580 | 8148430 |
76.9 | -90 | 360 |
100 | No significant intersection | |||||
| NC17RC017 | Stanton |
793580 | 8148410 |
77.3 | -90 | 360 |
100 | 10 |
14 | 4 | 0.05 | 0.11 | 0.02 |
| NC17RC018 | Stanton |
793640 | 8148410 |
76.3 | -90 | 360 |
100 | 3 |
9 | 6 | 0.40 | 0.28 | 0.04 |
| including | 4 | 5 | 1 | 1.10 | 0.26 | 0.07 | |||||||
| 12 | 17 | 5 | 0.20 | 0.10 | 0.09 | ||||||||
| 20 | 24 | 4 | 0.07 | 0.03 | 0.04 | ||||||||
| 27 | 30 | 3 | 0.49 | 0.09 | 0.20 | ||||||||
| NC17RC019 | Stanton |
793640 | 8148430 |
76.1 | -90 | 360 |
100 | 0 |
2 | 2 | 0.12 | 0.13 | 0.03 |
| 4 | 6 | 2 | 0.20 | 0.78 | 0.03 | ||||||||
| 27 | 28 | 1 | 0.08 | 0.07 | 0.04 | ||||||||
| 32 | 35 | 3 | 0.14 | 0.08 | 0.04 | ||||||||
| 41 | 46 | 5 | 0.14 | 0.06 | 0.07 | ||||||||
| NC17RC020 | Stanton |
793640 | 8148450 |
76.1 | -90 | 360 |
100 | 1 |
6 | 5 | 0.16 | 0.34 | 0.05 |
| 10 | 15 | 5 | 0.37 | 0.94 | 0.11 | ||||||||
| 21 | 22 | 1 | 0.17 | 0.18 | 0.03 | ||||||||
| 25 | 26 | 1 | 0.10 | 0.13 | 0.02 | ||||||||
| 40 | 41 | 1 | 0.06 | 0.11 | 0.03 | ||||||||
| 42 | 53 | 11 | 0.19 | 0.20 | 0.07 | ||||||||
| NC17RC021 | Stanton |
793640 | 8148470 |
76.0 | -90 | 360 |
100 | 5 |
14 | 9 | 0.35 | 0.19 | 0.09 |
| including | 8 | 9 | 1 | 1.10 | 0.16 | 0.06 | |||||||
| 16 | 23 | 7 | 0.29 | 0.19 | 0.11 | ||||||||
| 27 | 47 | 20 | 0.31 | 0.10 | 0.16 | ||||||||
| NC17RC022 | Stanton |
793640 | 8148490 |
75.7 | -90 | 360 |
100 | 0 |
2 | 2 | 0.18 | 0.11 | 0.02 |
| 16 | 23 | 7 | 0.11 | 0.05 | 0.05 | ||||||||
| 75 | 83 | 8 | 0.10 | 0.03 | 0.06 | ||||||||
| NC17RC023 | Stanton |
793640 | 8148510 |
75.5 | -90 | 360 |
100 | 17 |
21 | 4 | 0.06 | 0.13 | 0.04 |
| 76 | 81 | 5 | 0.17 | 0.18 | 0.08 | ||||||||
| NC17RC024 | Stanton |
793660 | 8148560 |
74.8 | -90 | 360 |
100 | No significant intersection |
9
| Hole_ID | Prospect | Easting | Northing | RL | Dip | Azimuth | Total | Intercept | Intercept | Interval (m) | Co (%) | Cu (%) | Ni (%) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (MGAZ53) | (MGAZ53) |
(MGAZ53) | (mag) | depth (m) | From (m) |
To (m) | |||||||
| NC17RC025 | Stanton |
793660 | 8148530 |
75.1 | -90 | 360 |
100 | 0 |
1 | 1 | 0.06 | 0.06 | 0.02 |
| 68 | 69 | 1 | 0.06 | 0.04 | 0.03 | ||||||||
| 75 | 76 | 1 | 0.06 | 0.18 | 0.03 | ||||||||
| NC17RC026 | Stanton |
793661 | 8148510 |
75.2 | -90 | 360 |
100 | 0 |
9 | 9 | 0.07 | 0.09 | 0.05 |
| 13 | 14 | 1 | 0.15 | 0.22 | 0.11 | ||||||||
| NC17RC027 | Stanton |
793660 | 8148490 |
75.4 | -90 | 360 |
100 | 1 |
7 | 6 | 0.10 | 0.15 | 0.04 |
| 9 | 10 | 1 | 0.09 | 0.31 | 0.02 | ||||||||
| 15 | 17 | 2 | 0.11 | 0.09 | 0.06 | ||||||||
| 18 | 20 | 2 | 0.11 | 0.10 | 0.04 | ||||||||
| 75 | 78 | 3 | 0.11 | 0.17 | 0.06 | ||||||||
| 79 | 80 | 1 | 0.11 | 0.36 | 0.06 | ||||||||
| NC17RC028 | Stanton |
793660 | 8148470 |
75.6 | -90 | 360 |
100 | 2 |
13 | 11 | 0.29 | 0.23 | 0.08 |
| 2 | 3 | 1 | 2.30 | 0.41 | 0.13 | ||||||||
| 16 | 17 | 1 | 0.36 | 0.13 | 0.05 | ||||||||
| 20 | 34 | 14 | 0.23 | 0.06 | 0.14 | ||||||||
| 36 | 39 | 3 | 0.10 | 0.04 | 0.05 | ||||||||
| NC17RC029 | Stanton |
793660 | 8148450 |
75.8 | -90 | 360 |
100 | 1 |
5 | 4 | 0.11 | 0.16 | 0.03 |
| 6 | 8 | 2 | 0.07 | 0.17 | 0.04 | ||||||||
| 34 | 36 | 2 | 0.10 | 0.14 | 0.07 | ||||||||
| 39 | 43 | 4 | 0.18 | 0.04 | 0.07 | ||||||||
| 49 | 50 | 1 | 0.06 | 0.00 | 0.01 | ||||||||
| NC17RC030 | Stanton |
793660 | 8148430 |
75.8 | -90 | 360 |
100 | 1 |
13 | 12 | 0.24 | 0.21 | 0.09 |
| 16 | 24 | 8 | 0.13 | 0.24 | 0.04 | ||||||||
| 30 | 36 | 6 | 0.23 | 0.28 | 0.18 | ||||||||
| 36 | 39 | 4 | no sample return | ||||||||||
| 39 | 40 | 1 | 0.60 | 0.44 | 0.76 | ||||||||
| 41 | 50 | 9 | 0.34 | 0.07 | 0.15 | ||||||||
| including | 41 | 42 | 1 | 2.33 | 0.45 | 1.01 |
10
| Hole_ID | Prospect | Easting | Northing | RL | Dip | Azimuth | Total | Intercept | Intercept | Interval (m) | Co (%) | Cu (%) | Ni (%) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (MGAZ53) | (MGAZ53) |
(MGAZ53) | (mag) | depth (m) | From (m) |
To (m) | |||||||
| NC17RC031 | Stanton |
793680 | 8148430 |
75.6 | -90 | 360 |
100 | 3 |
10 | 7 | 0.11 | 0.48 | 0.03 |
| 14 | 16 | 2 | 0.13 | 0.14 | 0.06 | ||||||||
| 19 | 31 | 12 | 0.06 | 0.01 | 0.02 | ||||||||
| 47 | 68 | 21 | 0.11 | 0.02 | 0.07 | ||||||||
| 73 | 84 | 11 | 0.07 | 0.09 | 0.04 | ||||||||
| NC17RC032 | Stanton |
793680 | 8148450 |
75.5 | -90 | 360 |
100 | 0 |
1 | 1 | 0.10 | 0.11 | 0.02 |
| 6 | 10 | 4 | 0.21 | 0.10 | 0.05 | ||||||||
| 13 | 14 | 1 | 0.05 | 0.13 | 0.04 | ||||||||
| 15 | 16 | 1 | 0.32 | 0.86 | 0.07 | ||||||||
| 21 | 23 | 2 | 0.07 | 0.04 | 0.04 | ||||||||
| 29 | 31 | 2 | 0.13 | 0.00 | 0.01 | ||||||||
| 68 | 72 | 4 | 0.14 | 0.05 | 0.08 | ||||||||
| NC17RC033 | Stanton |
793680 | 8148470 |
75.3 | -90 | 360 |
100 | 1 |
5 | 4 | 0.06 | 0.22 | 0.07 |
| 11 | 12 | 1 | 0.08 | 0.10 | 0.03 | ||||||||
| 14 | 15 | 1 | 0.19 | 0.13 | 0.03 | ||||||||
| 16 | 21 | 5 | 0.19 | 0.11 | 0.13 | ||||||||
| 22 | 23 | 1 | 0.06 | 0.02 | 0.02 | ||||||||
| 32 | 37 | 5 | 0.13 | 0.02 | 0.03 | ||||||||
| 46 | 50 | 4 | 0.06 | 0.00 | 0.01 | ||||||||
| 71 | 75 | 4 | 0.10 | 0.06 | 0.05 | ||||||||
| NC17RC034 | Stanton |
793680 | 8148490 |
75.1 | -90 | 360 |
100 | 0 |
9 | 9 | 0.10 | 0.09 | 0.04 |
| 14 | 17 | 3 | 0.20 | 0.48 | 0.06 | ||||||||
| 68 | 76 | 8 | 0.07 | 0.02 | 0.02 | ||||||||
| NC17RC035 | Stanton |
793680 | 8148510 |
74.9 | -90 | 360 |
100 | 20 |
21 | 1 | 0.16 | 0.00 | 0.00 |
| NC17RC036 | Stanton |
793680 | 8148530 |
74.7 | -90 | 360 |
100 | 38 |
39 | 1 | 0.06 | 0.00 | 0.01 |
| NC17RC037 | Stanton |
793720 | 8148620 |
73.4 | -90 | 360 |
100 | No significant intersection | |||||
| NC17RC038 | Stanton |
793700 | 8148560 |
74.1 | -90 | 360 |
100 | 1 |
2 | 1 | 0.05 | 0.06 | 0.02 |
| NC17RC039 | Stanton |
793700 | 8148510 |
74.5 | -90 | 360 |
100 | 0 |
1 | 1 | 0.06 | 0.05 | 0.01 |
| 7 | 8 | 1 | 0.05 | 0.04 | 0.01 |
11
| Hole_ID | Prospect | Easting | Northing | RL | Dip | Azimuth | Total | Intercept | Intercept | Interval (m) | Co (%) | Cu (%) | Ni (%) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (MGAZ53) | (MGAZ53) |
(MGAZ53) | (mag) | depth (m) | From (m) |
To (m) | |||||||
| NC17RC040 | Stanton |
793700 | 8148470 |
75.0 | -90 | 360 |
100 | 4 |
18 | 14 | 0.18 | 0.30 | 0.06 |
| NC17RC041 | Stanton |
793700 | 8148450 |
75.2 | -90 | 360 |
100 | 0 |
4 | 4 | 0.08 | 0.10 | 0.04 |
| 9 | 10 | 1 | 0.09 | 0.58 | 0.03 | ||||||||
| 13 | 20 | 7 | 0.18 | 0.16 | 0.03 | ||||||||
| NC17RC042 | Stanton |
793700 | 8148430 |
75.4 | -90 | 360 |
100 | 0 |
8 | 8 | 0.09 | 0.11 | 0.04 |
| 60 | 64 | 4 | 0.05 | 0.00 | 0.03 | ||||||||
| 68 | 72 | 4 | 0.06 | 0.02 | 0.03 | ||||||||
| NC17RC043 | Stanton |
793720 | 8148430 |
75.1 | -90 | 360 |
100 | 0 |
8 | 8 | 0.10 | 0.14 | 0.10 |
| 32 | 36 | 4 | 0.06 | 0.00 | 0.02 | ||||||||
| 64 | 70 | 6 | 0.12 | 0.02 | 0.07 | ||||||||
| NC17RC044 | Stanton |
793720 | 8148470 |
74.8 | -90 | 360 |
100 | 0 |
6 | 6 | 0.13 | 0.08 | 0.03 |
| 67 | 68 | 1 | 0.07 | 0.05 | 0.04 | ||||||||
| 71 | 76 | 5 | 0.07 | 0.02 | 0.03 | ||||||||
| NC17RC045 | Stanton |
793720 | 8148490 |
74.5 | -90 | 360 |
100 | 0 |
2 | 2 | 0.06 | 0.06 | 0.02 |
| 7 | 8 | 1 | 0.07 | 0.27 | 0.02 | ||||||||
| NC17RC046 | Stanton |
793720 | 8148510 |
74.3 | -90 | 360 |
100 | 0 |
1 | 1 | 0.07 | 0.07 | 0.02 |
| NC17RC047 | Stanton |
793760 | 8148560 |
73.3 | -90 | 360 |
100 | No significant intersection | |||||
| NC17RC048 | Stanton |
793740 | 8148510 |
74.0 | -90 | 360 |
100 | No significant intersection | |||||
| NC17RC049 | Stanton |
793740 | 8148490 |
74.3 | -90 | 360 |
100 | 0 |
2 | 2 | 0.08 | 0.08 | 0.02 |
| NC17RC050 | Stanton |
793760 | 8148470 |
74.2 | -90 | 360 |
100 | No significant intersection | |||||
| NC17RC051 | Stanton |
793740 | 8148470 |
74.4 | -90 | 360 |
100 | 1 |
3 | 2 | 0.11 | 0.09 | 0.02 |
| 72 | 76 | 4 | 0.07 | 0.00 | 0.03 | ||||||||
| NC17RC052 | Stanton |
793740 | 8148450 |
74.5 | -90 | 360 |
100 | 3 |
4 | 1 | 0.05 | 0.04 | 0.05 |
| 5 | 6 | 1 | 0.11 | 0.09 | 0.04 | ||||||||
| 72 | 76 | 4 | 0.05 | 0.01 | 0.03 | ||||||||
| NC17RC053 | Stanton |
793760 | 8148410 |
74.7 | -90 | 360 |
100 | No significant intersection | |||||
| NC17RC054 | Stanton |
793600 | 8148360 |
77.4 | -90 | 360 |
100 | No significant intersection | |||||
| NC17RC055 | Stanton |
793580 | 8148390 |
77.4 | -90 | 360 |
100 | No significant intersection | |||||
| NC17RC056 | Stanton |
793520 | 8148430 |
77.8 | -90 | 360 |
100 | No significant intersection |
12
| Hole_ID | Prospect | Easting | Northing | RL | Dip | Azimuth | Total | Intercept | Intercept | Interval (m) | Co (%) Cu (%) |
Ni (%) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (MGAZ53) | (MGAZ53) |
(MGAZ53) | (mag) | depth (m) | From (m) |
To (m) | ||||||
| NC17RC057 | Stanton |
793540 | 8148510 |
76.8 | -90 | 360 |
100 | 72 |
76 | 4 | 0.06 0.01 |
0.03 |
| 80 | 84 | 4 | 0.11 0.07 |
0.05 | ||||||||
| NC17RC058 | Stanton |
793700 | 8148490 |
74.9 | -90 | 360 |
25 | 0 |
2 | 2 | 0.06 0.03 |
0.01 |
| NC17RC059 | Stanton |
793701 | 8148491 |
74.8 | -90 | 360 |
100 | 0 |
2 | 2 | 0.09 0.04 |
0.01 |
| 10 | 11 | 1 | 0.06 0.36 |
0.03 | ||||||||
| Running | ||||||||||||
| NC17RC060 | Creek |
795334 | 8149193 |
62.7 | -90 | 360 |
80 | No significant intersection | ||||
| Running | ||||||||||||
| NC17RC061 | Creek |
795334 | 8149111 |
62.5 | -90 | 360 |
80 | No significant intersection | ||||
| Running | ||||||||||||
| NC17RC062 | Creek |
795331 | 8148987 |
59.6 | -90 | 360 |
80 | No significant intersection | ||||
| Running | ||||||||||||
| NC17RC063 | Creek |
795335 | 8148891 |
58.4 | -90 | 360 |
80 | No significant intersection | ||||
| Running | ||||||||||||
| NC17RC064 | Creek |
795226 | 8148891 |
58.5 | -90 | 360 |
80 | No significant intersection | ||||
| Running | ||||||||||||
| NC17RC065 | Creek |
795133 | 8148890 |
58.6 | -90 | 360 |
80 | No significant intersection | ||||
| Running | ||||||||||||
| NC17RC066 | Creek |
795039 | 8148895 |
58.8 | -90 | 360 |
80 | No significant intersection | ||||
| Running | ||||||||||||
| NC17RC067 | Creek |
795328 | 8148788 |
57.2 | -90 | 360 |
80 | No significant intersection | ||||
| Running | ||||||||||||
| NC17RC068 | Creek |
795236 | 8148789 |
57.5 | -90 | 360 |
80 | No significant intersection | ||||
| Running | ||||||||||||
| NC17RC069 | Creek |
795223 | 8148695 |
56.5 | -90 | 360 |
80 | No significant intersection | ||||
| Running | ||||||||||||
| NC17RC070 | Creek |
795222 | 8148597 |
55.1 | -90 | 360 |
80 | No significant intersection | ||||
| Running | ||||||||||||
| NC17RC071 | Creek |
795222 | 8148515 |
53.8 | -90 | 360 |
80 | No significant intersection | ||||
| Running | ||||||||||||
| NC17RC072 | Creek |
795438 | 8148504 |
52.5 | -90 | 360 |
78 | No significant intersection |
13
| Hole_ID | Prospect | Easting | Northing | RL | Dip | Azimuth | Total | Intercept | Intercept | Interval (m) | Co (%) Cu (%) |
Ni (%) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (MGAZ53) | (MGAZ53) |
(MGAZ53) | (mag) | depth (m) | From (m) |
To (m) | ||||||
| Running | ||||||||||||
| NC17RC073 | Creek |
795618 | 8148195 |
51.3 | -90 | 360 |
80 | No significant intersection | ||||
| Running | ||||||||||||
| NC17RC074 | Creek |
795814 | 8148080 |
49.9 | -90 | 360 |
80 | No significant intersection | ||||
| Running | ||||||||||||
| NC17RC075 | Creek |
795918 | 8148174 |
49.8 | -90 | 360 |
80 | No significant intersection | ||||
| Running | ||||||||||||
| NC17RC076 | Creek |
796012 | 8148277 |
49.7 | -90 | 360 |
80 | No significant intersection | ||||
| Running | ||||||||||||
| NC17RC077 | Creek |
795914 | 8148279 |
50.4 | -90 | 360 |
80 | No significant intersection | ||||
| Running | ||||||||||||
| NC17RC078 | Creek |
795822 | 8148286 |
50.9 | -90 | 360 |
80 | No significant intersection | ||||
| Running | ||||||||||||
| NC17RC079 | Creek |
795721 | 8148477 |
53.3 | -90 | 360 |
80 | No significant intersection | ||||
| Running | ||||||||||||
| NC17RC080 | Creek |
795723 | 8148576 |
54.5 | -90 | 360 |
80 | No significant intersection | ||||
| Running | ||||||||||||
| NC17RC081 | Creek |
795576 | 8148584 |
54.9 | -90 | 360 |
80 | No significant intersection | ||||
| Running | ||||||||||||
| NC17RC082 | Creek |
795725 | 8148683 |
56.0 | -90 | 360 |
80 | 1 |
2 | 1 | 0.05 0.10 |
0.02 |
| Running | ||||||||||||
| NC17RC083 | Creek |
795833 | 8148880 |
57.3 | -90 | 360 |
78 | No significant intersection | ||||
| Running | ||||||||||||
| NC17RC084 | Creek |
795836 | 8148974 |
57.9 | -90 | 360 |
78 | No significant intersection | ||||
| Running | ||||||||||||
| NC17RC085 | Creek |
795836 | 8149080 |
58.5 | -90 | 360 |
80 | No significant intersection | ||||
| Running | ||||||||||||
| NC17RC086 | Creek |
795935 | 8149078 |
57.5 | -90 | 360 |
80 | No significant intersection | ||||
| Running | ||||||||||||
| NC17RC087 | Creek |
796029 | 8149077 |
56.2 | -90 | 360 |
78 | No significant intersection |
14
| Hole_ID | Prospect | Easting | Northing | RL | Dip | Azimuth | Total | Intercept | Intercept |
Interval (m) | Co (%) Cu (%) |
Ni (%) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (MGAZ53) | (MGAZ53) |
(MGAZ53) | (mag) | depth (m) | From (m) |
To (m) |
||||||
| Running | ||||||||||||
| NC17RC088 | Creek |
796139 | 8149178 |
55.2 | -90 | 360 |
80 | No significant intersection | ||||
| Running | ||||||||||||
| NC17RC089 | Creek |
796133 | 8148977 |
54.3 | -90 | 360 |
80 | No significant intersection | ||||
| Running | ||||||||||||
| NC17RC090 | Creek |
796032 | 8148977 |
55.4 | -90 | 360 |
80 | No significant intersection | ||||
| Running | ||||||||||||
| NC17RC091 | Creek |
795937 | 8148978 |
56.7 | -90 | 360 |
84 | No significant intersection | ||||
| Running | ||||||||||||
| NC17RC092 | Creek |
795738 | 8149082 |
59.7 | -90 | 360 |
80 | No significant intersection | ||||
| Running | ||||||||||||
| NC17RC093 | Creek |
795631 | 8148978 |
59.6 | -90 | 360 |
80 | No significant intersection | ||||
| NC17RC094 | NE Stanton |
793928 | 8148819 |
69.6 | -90 | 360 |
80 | No significant intersection | ||||
| NC17RC095 | NE Stanton |
794023 | 8148814 |
69.0 | -90 | 360 |
80 | No significant intersection | ||||
| NC17RC096 | NE Stanton |
794027 | 8149014 |
68.0 | -90 | 360 |
80 | No significant intersection | ||||
| NC17RC097 | NE Stanton |
794134 | 8148914 |
67.5 | -90 | 360 |
74 | No significant intersection | ||||
| NC17RC098 | NE Stanton |
794127 | 8148717 |
68.2 | -90 | 360 |
80 | No significant intersection | ||||
| NC17RC099 | NE Stanton |
793923 | 8148719 |
70.4 | -90 | 360 |
80 | No significant intersection | ||||
| NC17RC100 | SW Stanton |
792706 |
8147845 |
82.2 | -90 | 360 |
80 | No significant intersection | ||||
| NC17RC101 | SW Stanton |
792805 |
8147841 |
82.8 | -90 | 360 |
80 | No significant intersection | ||||
| NC17RC102 | SW Stanton |
792912 |
8147733 |
83.8 | -90 | 360 |
80 | No significant intersection | ||||
| NC17RC103 | Stanton |
793418 | 8148227 |
80.8 | -90 | 360 |
80 | No significant intersection | ||||
| NC17RC104 | Stanton |
793517 | 8148224 |
79.6 | -90 | 360 |
76 | No significant intersection | ||||
| NC17RC105 | Stanton |
793519 | 8148318 |
78.7 | -90 | 360 |
80 | No significant intersection | ||||
| NC17RC106 | SE Stanton |
793909 | 8147722 |
73.1 | -90 | 360 |
80 | No significant intersection | ||||
| NC17RC107 | SE Stanton |
793907 | 8147814 |
73.4 | -90 | 360 |
80 | No significant intersection | ||||
| NC17RC108 | SE Stanton |
793809 | 8147813 |
75.9 | -90 | 360 |
80 | No significant intersection | ||||
| NC17RC109 | Stanton |
793621 | 8148117 |
79.0 | -90 | 360 |
80 | No significant intersection | ||||
| NC17RC110 | East Felix |
795788 | 8146673 |
60.1 | -90 | 360 |
80 | No significant intersection | ||||
| NC17RC111 | East Felix |
795683 | 8146782 |
60.1 | -90 | 360 |
80 | No significant intersection |
15
| Hole_ID | Prospect | Easting | Northing | RL | Dip | Azimuth | Total | Intercept | Intercept | Interval (m) | Co (%) Cu (%) |
Ni (%) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (MGAZ53) | (MGAZ53) |
(MGAZ53) | (mag) | depth (m) | From (m) |
To (m) | ||||||
| NC17RC112 | East Felix |
795693 | 8146681 |
60.9 | -90 | 360 |
80 | No significant intersection | ||||
| NC17RC113 | East Felix |
795590 | 8146876 |
59.9 | -90 | 360 |
80 | No significant intersection | ||||
| NC17RC114 | East Felix |
795584 | 8146782 |
61.0 | -90 | 360 |
84 | No significant intersection | ||||
| NC17RC115 | East Felix |
795585 | 8146680 |
62.0 | -90 | 360 |
80 | No significant intersection | ||||
| NC17RC116 | East Felix |
795484 | 8146687 |
63.0 | -90 | 360 |
80 | No significant intersection | ||||
| NC17RC117 | East Felix |
795288 | 8146589 |
67.0 | -90 | 360 |
80 | No significant intersection | ||||
| NC17RC118 | East Felix |
795293 | 8146689 |
65.2 | -90 | 360 |
80 | No significant intersection | ||||
| NC17RC119 | East Felix |
795187 | 8146795 |
63.9 | -90 | 360 |
80 | No significant intersection | ||||
| NC17RC120 | East Felix |
795089 | 8146701 |
65.9 | -90 | 360 |
80 | No significant intersection | ||||
| NC17RC121 | Stanton |
793760 | 8148429 |
74.5 | -90 | 360 |
48 | 6 |
8 | 2 | 0.08 0.10 |
0.03 |
| NC17RC122 | Stanton |
793780 | 8148410 |
74.3 | -90 | 360 |
48 | 0 |
1 | 1 | 0.09 0.09 |
0.02 |
| NC17RC123 | Stanton |
793740 | 8148410 |
75.0 | -90 | 360 |
48 | No significant intersection | ||||
| NC17RC124 | Stanton |
793657 | 8148394 |
76.2 | -90 | 360 |
60 | 4 |
5 | 1 | 0.06 0.13 |
0.05 |
| 8 | 10 | 2 | 0.06 0.15 |
0.05 | ||||||||
| NC17RC125 | Stanton |
793640 | 8148382 |
76.6 | -90 | 360 |
60 | 9 |
10 | 1 | 0.07 0.09 |
0.02 |
| NC17RC126 | Stanton |
793660 | 8148413 |
76.1 | -90 | 360 |
78 | 0 |
5 | 5 | 0.19 0.10 |
0.04 |
| 7 | 8 | 1 | 0.05 0.09 |
0.01 | ||||||||
| 11 | 30 | 19 | 0.29 0.07 |
0.09 | ||||||||
| including | 13 | 14 | 1 | 1.31 0.20 |
0.07 | |||||||
| 39 | 40 | 1 | 0.05 0.18 |
0.12 | ||||||||
| 42 | 43 | 1 | 0.06 0.35 |
0.17 | ||||||||
| 53 | 60 | 7 | 0.08 0.00 |
0.05 | ||||||||
| 70 | 71 | 1 | 0.08 0.17 |
0.03 | ||||||||
| NC17RC127 | Stanton |
793680.4 | 8148407 |
75.9 | -90 | 360 |
60 | 1 |
3 | 2 | 0.19 0.11 |
0.04 |
| 8 | 9 | 1 | 0.06 0.18 |
0.01 | ||||||||
| 18 | 19 | 1 | 0.08 0.00 |
0.00 |
16
Appendix 2. The following tables are provided to ensure compliance with the JORC Code (2012) requirements for the reporting of the exploration results for the Wollogorang Cobalt Project
Section 1 Sampling Techniques and Data (Criteria in this section apply to all succeeding sections.)
| Criteria | JORC Code explanation Commentary |
|---|---|
| Sampling techniques |
• Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the 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 this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information. •Reverse Circulation (RC) drilling using standard equipment. •Sampling was undertaken at one metre intervals when mineralisation was visually identified and as four metre composites when not. •Drilling was designed to intersect the mineralised ore zone based historical drilling |
| Drilling techniques |
• Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face- sampling bit or other type, whether core is oriented and if so, by what method, etc). •Reverse circulation percussion (RC) |
| Drill sample recovery |
• Method of recording and assessing core and chip sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the samples. • Whether a relationship exists between •Recovery generally good, with poor recovery in a small number of samples due to groundwater. |
| Criteria | JORC Code explanation Commentary |
|---|---|
| sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. |
|
| Logging | • Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. • The total length and percentage of the relevant intersections logged. •Drilling logged in detail on a metre by metre basis. •Lithology, alteration and oxidation logged qualitatively. •Sulphide content and type logged quantitatively and qualitatively. |
| Sub- sampling techniques and sample preparation |
• If core, whether cut or sawn and whether quarter, half or all core 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 appropriateness of the sample preparation technique. • Quality control procedures adopted for all sub-sampling stages 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 of the material being sampled. •RC drill samples split using a rig mounted cone splitter. •Sample duplicates collected, and standards used to confirm representivity of sampling. |
| Quality of assay data and laboratory tests |
• The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. • For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. • Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established. •Sample Preparation - The samples have been sorted and dried. Primary preparation has been by crushing the whole sample. The samples have been split with a riffle splitter to obtain a sub-fraction which has then been pulverised in a vibrating pulveriser. •Analytical Methods - The samples have been analysed by Firing a 40 g (approx) portion of the sample. Lower sample weights may be employed for samples with very high sulphide and metal contents. This is the classical fire assay process and will give total separation of Gold Platinum and Palladium in the sample. •Au,Pt,Pd determined byInductively |
18
| Criteria | JORC Code explanation Commentary |
|---|---|
| Coupled Plasma (ICP) Optical Emission Spectrometry. •The sample(s) have been digested and refluxed with a mixture of acids, including Hydrofluoric, Nitric, Hydrochloric and Perchloric Acids. This extended digest approaches a Total digest for many elements, however, some refractory minerals are not completely attacked. •Ca, Cr, Fe, K, Mg, Mn, Na, P, S, V, Co, Cu, Ni and Zn determined by Inductively Coupled Plasma (ICP) Optical Emission Spectrometry. The sample(s) have been digested and refluxed with a mixture of acids including Hydrofluoric, Nitric, Hydrochloric and Perchloric Acids. This extended digest approaches a Total digest for many elements however some refractory minerals are not completely attacked. •Ag, As, Ba, Bi, Cd, Li , Mo, Pb, U, Th •Standards (OREAS 181), blanks and duplicates have all been applied in the QAQC methodology. Sufficient accuracy and precision have been establish for the type of mineralisation encountered. |
|
| Verification of sampling and assaying |
• The verification of significant intersections by either independent or alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data. •An electronic database containing collars, geological logging and assays is maintained by the Company |
| Location of data points |
• Accuracy and quality of surveys used to locate drill holes (collar and down- hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • Specification of the grid system used. • Quality and adequacy of topographic control. •Holes have been surveyed using Differential GPS (DGPS). •UTM grid MGA94 Zone 53 was used •A majority of holes have had down hole surveys completed. |
| Data spacing and distribution |
• Data spacing for reporting of Exploration Results. • Whether the data spacing, and distribution is sufficient to establish the degree of geological and grade •Drill hole spacing approximately every 20m on a grid across the existing mineral resource. •Spacing and distribution is considered to be appropriate. |
19
| Criteria | JORC Code explanation Commentary |
|---|---|
| continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. • Whether sample compositing has been applied. |
|
| Orientation of data in relation to geological structure |
• Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. • If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. •Sample relationship to mineralisation and structure is unknown at this stage. |
| Sample security |
• The measures taken to ensure sample security. •Samples are bagged and sealed on pallets on site and transported to the analytical laboratories by commercial transport companies. |
| Audits or reviews |
• The results of any audits or reviews of sampling techniques and data. •No audits undertaken at this stage as the drilling program has only recently commenced. |
20
Section 2 Reporting of Exploration Results
(Criteria in this section apply to all succeeding sections.)
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| Mineral tenement and land tenure status |
• Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. • The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to _operate inthe area. _ |
•Wollogorang Cobalt Project exploration area occurs on EL 31272 which is 100% owned by Mangrove Resources Pty Ltd a wholly owned subsidiary to Northern Cobalt Ltd. •The licence is currently in good standing with the relevant authorities. |
| Exploration done by other parties |
• Acknowledgment and appraisal of exploration by other parties. |
•The Stanton Cobalt deposit and surrounding prospects were discovered by CRA Exploration Pty Ltd in the period 1990-1996 period under a farm in arrangement with W J (Joe) Fisher. |
| Geology | • Deposit type, geological setting and style of mineralisation. |
•The local geology is dominated by the Gold Creek Volcanics of the Tawallah Group. This formation is a series of basaltic lavas and shallow intrusives, interlayered with thin oxidised sandstone, carbonate and siltstone units. It is conformably underlain by reduced sedimentary facies of the Wollogorang Formation, which includes dolostones, sandstones and carbonaceous shales. A regional dolerite sill, the Settlement Creek Dolerite, was emplaced synchronous with effusion of the Gold Creek Volcanics. The Wollogorang Formation and Settlement Creek Dolerite do not outcrop on the Stanton prospect area, but are however intersected in a number of drill holes on the tenement. Within the district, the Gold Creek Volcanics are disconformably overlain by a felsic volcanic package that includes a rhyolitic rheoignimbrite sheet (Hobblechain Rhyolite), proximal epiclastics (Pungalina Member) and distal reworked clastics (Echo Sandstone). •Mineralisation is interpreted to be largely controlled by stratigraphy within the flat lyinginterbedded |
21
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| sediment and volcanic rock units of the Proterozoic Gold Creek Volcanics. Brecciation and faulting has a strong control on the intensity and limits of mineralisation. In fresh rock the cobalt-nickel is located in disseminated siegenite (cobalt-nickel sulphide). Chalcocite and pyrite are also noted. Weathering to a variable depth of approximately 30m has resulted in cobalt oxide secondary mineralisation in a large proportion of the deposit. |
||
| Drill hole Information |
• A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: o easting and northing of the drill holecollar o elevation or RL (Reduced Level –elevation above sea level in metres) of the drill hole collar o dip and azimuth of the holeo down hole length and interceptiondepth o hole length.• If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly _explain why this is the case. _ |
•See Appendix 1. |
| Data aggregation methods |
• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. • Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. • The assumptions used for any reporting of metal equivalent values should be clearly stated. |
•Simple length weighted averages were used for reporting of significant drill intercepts with a cut-off grade of 0.05% (500ppm) Co and a maximum internal dilution of 1m. |
22
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| Relationship between mineralisatio n widths and intercept lengths |
• These relationships are particularly important in the reporting of Exploration Results. • If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. • If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not _known’). _ |
•Any observations made are down hole length and true width is not known. |
| Diagrams | • Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and _appropriate sectional views. _ |
•See this release and Appendix 1. |
| Balanced reporting |
• Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading _reporting of Exploration Results. _ |
•All significant drill intersections have been reported and it has been noted when no significant intersection has been encountered. |
| Other substantive exploration data |
• Other exploration data, if meaningful and material, should be reported 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, geotechnical and rock characteristics; potential deleterious or contaminating _substances. _ |
•No other relevant data to report. |
| Further work | • The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out 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. |
•Planned further work detailed in this, and previous releases, and in figures. This work includes comprises drill testing along a significant portion of the surface geochemical anomaly. |
23