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RTG Mining Inc. — Interim / Quarterly Report 2015
Jul 23, 2015
47130_rns_2015-07-23_70200e61-70d7-4287-b314-20fec3183d9e.pdf
Interim / Quarterly Report
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NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
JUNE 2015 QUARTERLY REPORT
ANNOUNCEMENT TO THE AUSTRALIAN SECURITIES EXCHANGE
24 JULY 2015
HIGHLIGHTS
- Resource drilling on the South Body has confirmed the continuation of magnetite skarn a further 30 meters from the successful drill holes MDH-95 and MDH-94.
- MDH-100A interval confirmed the continuation of the mineralised system to the South with significantly higher grades than previously reported for this part of the system.
36 meters at 3.34 g/t Au and 3.25% Cu from 282.00 meters downhole.
including:
- 9 meters at 6.86 g/t Au and 4.17 % Cu and 30g/t Ag from 307.00 meters downhole; and
- 1 meter at 24.59 g/t Au, 8.10% Cu and 56.9 g/t Ag from 313.00 meters downhole.
- Drilling on the North Mineralised Zone recommenced with the initial drill holes providing strong evidence that the North Mineralised Zone is an offset continuation of the South Mineralised Zone significantly increasing the strike potential of the system.
- MDH-102 interval confirmed the continuation of the mineralised system to the north in agreement with the revised geological interpretation.
- 22.35m at 3.52g/t Au and 3.06% Cu and 11.6g/t Ag from 109.10 meters downhole; and
- 24.20m at 1.46g/t Au and 1.42 % Cu and 13.8g/t Ag from 189.40 meters downhole.
- Successful completion of A$15 million private placement.
- Cash and liquid assets as at 30 June of A$12.9M.
MABILO PROJECT
Overview of the Quarter
During the June Quarter for the Mabilo Project, drilling concentrated on extending the South Mineralised Zone with the aim of converting Inferred Resources to Indicated Resources. Drilling focused on Fault Block 2 and initial validation of the revised geological interpretation on the North Mineralised zone. Excellent intercepts were recorded in both areas, including a wide down-hole intercept of high grade copper and gold (36.00m at 3.34 g/t Au and 3.25 % Cu) at the southern end of the south mineralised trend.
Drilling on the North Mineralised Zone recommenced during the quarter with the initial drill holes providing strong evidence that the North Mineralised Zone is an offset continuation of the South Mineralised Zone. Such a continuation would significantly improve the potential for increased tonnes from the North Mineralised Zone and the opportunity for an increase in the oxide resource and chalcocite potential.
Reported drill hole MDH-102 and other drilling has confirmed the mineralisation in the North Mineralised Zone is moderately dipping in a near identical orientation to the South Mineralised Zone and stratigraphic observations are consistent with the South Mineralised Zone. The intercept confirms the revised exploration model and identifies a shallow high grade zone (22.35m at 3.52g/t Au and 3.06% Cu) 75 meters vertically from the surface and a lower grade interval (24.20m at 1.46g/t Au and 1.42% Cu) hosted within marble.
Mt Labo Exploration and Development Corporation is currently in the process of renewing its exploration licence at the Mabilo Project with the process well advanced. The regional Mines and Geosciences Bureau has confirmed that all conditions have been met and it has been endorsed for signing by the Central office. The drilling contractor Galeo Equipment Corporation has temporarily suspended drilling while reviewing the drilling program in line with the EP renewal. The current resource is open down dip, down plunge and along strike in multiple directions, with all mineralisation found to date being shallow enough to be amenable to open pit mining techniques.
Work on the Feasibility Study continued during the quarter focusing on metallurgical work, infrastructure studies, water balance and management, TSF options, seismic and geotechnical design considerations.
Project Background
The Mabilo Project is located in Camarines Norte Province, Eastern Luzon, Philippines. It is comprised of one granted Exploration Permit (EP-014-2013-V) of approximately 498 ha and two Exploration Permit Application (EXPA-000188-V) of 2,737 ha and (EXPA 0000 209-V) of 498 ha. The Project area is relatively flat and is easily accessed by 15 km of all-weather road from the highway at the nearby town of Labo.
Massive magnetite mineralisation containing significant copper and gold grades occurs as replacement bodies together with mineralized garnet skarn and calc-silicate altered rocks within a sequence of hornfelsed sediments of the Eocene aged Tumbaga Formation. The garnet and magnetite skarn rocks were extensively altered by argillic retrograde alteration and weathering prior to being covered by 25-60 metres of post mineralisation Quaternary volcaniclastics (tuff and lahar deposits) of the Mt Labo Volcanic Complex. The deposits are localised along the margins of a diorite stock which does not outcrop within the project area.
The primary copper mineralisation (predominantly chalcopyrite with lesser bornite) occurs as disseminated blebs and aggregates interstitial to magnetite grains and in voids within the magnetite. A strong correlation between gold and copper values in the un-weathered magnetite skarn indicates the gold is hosted by the chalcopyrite. A late stage phase of sulphide mineralisation (predominantly pyrite) veins and locally brecciates the magnetite mineralisation.

Figure 1. RTP ground magnetic image with modelled South, North and East magnetic bodies
In places the more shallow upper parts of the magnetite skarn bodies were weathered to form hematite skarn. Copper in the weathered zone was remobilised forming highgrade supergene copper zones (chalcocite and native copper) at the base of the weathering profile. The gold was more variable, remobilised throughout the hematite skarn and is domained within garnet skarn and calc-silicate altered country rocks in places. The average iron grade of the hematite skarn is consistent with the magnetite skarn.
Sierra discovered the mineralisation in 2012 during a reconnaissance drilling program targeted on magnetic anomalies from a ground magnetic survey conducted by a former explorer. Sierra subsequently conducted a new ground magnetic survey in early 2013, remodeled the data and commenced a second phase of drilling in mid 2013.
Extensive drilling has been undertaken during 2014 with significant extensions in known strike beyond the magnetic model in the North and South directions. A total of 69 drill holes totaling 11,231m were used for the maiden resource estimate (ASX release - 24 November 2014). A total of one hundred and eight diamond drill holes have been completed at the end of the Quarter.

Figure 2. Isotropic copper grade shell model, highlights from infill drilling (yellow).

Figure 3. RTP ground magnetic image with completed drill holes and planned drilling. Drilling during the June Quarter (green), planned drilling (red) and previously report drilling (black).
Drilling focused on extending the mineralised system to the South and North with ongoing success being achieved. Significant advances have been made with the geological model of the North Mineralised system with the continuation of excellent grades (refer in Table 1).
| Hole ID | From | To | Intercept(m) | Aug/t | Cu % | Agppm | Fe % | Mineralisation | Recovery% |
|---|---|---|---|---|---|---|---|---|---|
| MDH-100A | 282 | 318 | 36 | 3.34 | 3.25 | 19.8 | 38.88 | MagnetiteSkarn & PyriteBreccia | 84.75 |
| MDH-102 | 109.1 | 131.45 | 22.35 | 3.52 | 3.06 | 11.6 | 35.34 | MagnetiteSkarn | 73.57 |
| MDH-102 | 189.4 | 213.6 | 24.2 | 1.46 | 1.42 | 13.8 | 33.77 | MagnetiteSkarn | 47.73* |
Table 1. Significant intercepts MDH-100A, MDH-102.
*Low recovery in interval due to strong argillic overprinting, intercept is indicative of geology, Cu and Au grade is in agreement with MDH-52 drilled in close proximity. Insufficient drilling on the sections has not allowed for true widths to be determined as this time, intervals are reported as down hole.
South Mineralised Zone
Drilling focused on the South Mineralised Zone, aiming to improve the resource classification. Drilling was designed to delineate the plunge extent of mineralization also stepping towards the south east of the system where significant high grade copper and gold was intersected. The system remains open at depth and along strike.
MDH-100A
MDH-100A (figure 4) was designed as a follow-up hole to the successful MDH-95 & MDH-94 (RTG ASX release on 14th April 2015). Targeting the strike extension of the magnetite, significant mineralisation was intersected with extensive secondary bornite mineralisation overprinting primary coarse grained chalcopyrite. Minor instances of chalcocite and lesser base metals were also observed. MDH099 drilled on the same section observed a volcanic breccia overprinting the mineral system resulting in lower grades (29 meters @ 0.66 g/t Au & 0.31% Cu). Mineralisation is present down hole as magnetite clasts within the volcanic breccia.
MDH-100A was successful in targeting mineralisation outside the previously interpreted magnetic model at significant depth. Insufficient drilling on the section has not allowed for true widths to be determined as this time, intervals are reported as down hole.
| MDH‐100A | From | To | Intercept(m) | Aug/t | Cu% | Agg/t | Fe % | Mineralisation | Recovery(%) |
|---|---|---|---|---|---|---|---|---|---|
| 282.00 | 318.00 | 36.00 | 3.34 | 3.25 | 19.8 | 38.88 | Magnetite Skarn& Pyrite Breccia | 84.75 | |
| including | 282.00 | 286.00 | 4.00 | 4.33 | 2.52 | 9.3 | 50.87 | Magnetite Skarn | 83.44 |
| andincluding | 288.00 | 297.00 | 9.00 | 1.89 | 4.68 | 28.3 | 51.07 | Magnetite Skarn | 95.22 |
| andincluding | 307.00 | 316.00 | 9.00 | 6.86 | 4.17 | 30.0 | 15.94 | Pyritic Breccia &Argilic Clay withBornite | 91.94 |
| including | 313.00 | 314.00 | 1.00 | 24.59 | 8.10 | 56.9 | 7.02 | Argilic Clay withBornite | 100.00 |
Table 2.

Figure 4 Schematic geology cross section MDH100A with intercept highlighted.
North Mineralised Zone
The revised interpretation opens up the potential for strike extensions and off-set continuation primary magnetite skarn, oxide and chalcocite mineralisation. Magnetite skarn hosted within marble correlates with deeper mineralisation in the Southern Mineralised Zone and is observed to be at a shallow position. The revised model is consistent with the geology of the Southern Mineralised Zone with drilling beyond the magnetic model planned. Drilling has continued to validate the new interpretation on through the North Mineralised system and along strike.
MDH-102
Drill hole MDH-102 (Figure 5) was designed to investigate stratigraphy and validate a new interpretation of the North Mineralised Zone. Drilled with a shallow inclination for maximum geological information, MDH-102 successfully intersected two zones of strongly mineralised magnetite skarn. Mineralised magnetite is characterised by strong silica-pyrite overprinting with instances of coarse grained chalcopyrite. The true width of intercepts are not reported and intercepts are only reported as downhole as this is the first hole drilled to validate and confirm the geological model.
| Table 3. | |
|---|---|
| ---------- | -- |
| MDH‐102 | From | To | Intercept (m) | Aug/t | Cu% | Agg/t | Fe % | Mineralisation | Recovery(%) |
|---|---|---|---|---|---|---|---|---|---|
| 100.00 | 103.00 | 3.00 | 0.15 | 0.72 | 7.4 | 9.17 | Garnet Skarn | 100.00 | |
| and | 109.10 | 131.45 | 22.35 | 3.52 | 3.06 | 11.6 | 35.34 | MagnetiteSkarn | 73.57 |
| including | 114.00 | 124.40 | 10.40 | 5.41 | 4.74 | 17.6 | 35.95 | MagnetiteSkarn | 79.33 |
| and | 134.80 | 138.15 | 3.35 | 1.19 | 1.10 | 4.8 | 29.31 | MagnetiteSkarn | 64.18 |
| and | 189.40 | 213.60 | 24.20 | 1.46 | 1.42 | 13.8 | 33.77 | MagnetiteSkarn | 47.73* |
*Low recovery in interval due to strong argillic overprinting, intercept is indicative of geology, Cu and Au grade is in agreement with MDH-52 drilled in close proximity.

Figure 5 Schematic geology cross section MDH102 with intercepts highlighted, revised geology model with previously reported off section intercepts highlighted.
Feasibility Study
Lycopodium Minerals Pty Ltd has progressed the Phase 2 metallurgical test work program being undertaken at ALS Metallurgy in Perth, Australia, with testwork results being progressively used to drive the process flowsheet development for the processing facility. The Phase 2 program is on schedule and the results generally support the Phase 1 findings.
Knight Piesold Pty Ltd have completed seismic and hydrological assessments for the mine tenement and have prepared preliminary tailings storage options. Geotechnical assessments are ongoing based on the results of the site drilling and test pitting for the Definitive Feasibility Study.
Highlights of the work done during the quarter include:-
- Main composite test work on representative ore samples continued during the quarter and is approximately 55% complete. Samples have been prepared for physical testing and variability samples have been prepared for confirmatory testing of the processing route established on the master composite.
- The comminution program is complete and the data generated will be used to size the grinding mills and define the comminution circuit configuration.
- Preliminary processing operating cost estimates have been completed for the pit mine optimization and a preliminary mine schedule has been issued.
- Typical building drawings have been issued and a mine services area footprint prepared.
- A preliminary site layout has been prepared including the provisional pit design, haul roads and waste dump, plant site and associated infrastructure, power station, fuel storage facility, mining services area, site roads, tailings storage facility and water containment and control structures to allow management of site run-off water.
- Process design criteria and mass balance development is ongoing in line with the test work progress.
- The process plant provisional mechanical equipment list has been prepared and is being updated in-line with process design and flowsheet changes.
- Equipment data sheets have been drawn up for major equipment items and vendor packages. Quotation requests are being issued for available equipment packages on an ongoing basis.
- Enquiries have been issued to potential fabricators / contractors for bulk rates.
- A seismic hazard assessment has been completed and climate and river flow monitoring is ongoing to establish baseline data for the site.
- Geochemical testing of a bulk tails sample by Knight Piesold has been completed with their report pending.
- Knight Piésold Consulting has designed a civil geotechnical site investigation program to establish founding conditions for proposed infrastructure within the Mabilo Project Area. A total of seventeen (17) bore holes and fifty-two (52) test pits have been drilled/ excavated across five locations.
The Study is set for completion early in the fourth quarter of the 2015 calendar year.
BUNAWAN PROJECT
Overview of the Quarter
Work continued on ground mapping and preparation for geophysical programs in the Mahunoc region for the next quarter. Initial results of the Applied Petrologic Services and Research's (APSAR) petrologic study have been received from the assaying of additional Bunawan drill samples. The results show copper gold Porphyry mineralization with overprinting of epithermal alteration. Microphotographs from the survey have shown gold deposition:
- alongside base metals enclosed in carbonates;
- interstitial to arsenopyrite and quartz; and
- native gold/electrum occurring with galena, pyrite, carbonate and illitic clay.
Geological mapping and a sampling program at Bayabas continued during the quarter. 10 rock chip samples were collected across the tenement yielding small amounts of gold and silver.
Project Background
The Bunawan Property is located in the east of Mindanao Island in Agusan del Sur province, approximately 190 km north-northeast of Davao and adjacent to the Davao – Surigao highway.
The Bunawan Project is centered on a diatreme intrusive complex (Mahunoc diatreme) approximately five km NE of Medusa Mining's Co-O mine in eastern Mindanao. A number of artisanal mining operations occur within and adjacent to the Mahunoc diatreme and the area is highly prospective for the discovery of economic epithermal Au-Ag mineralisation of intermediate sulphidation / carbonate-base metal type.

Figure 6 Location plan with regional geology showing both the Co-O and Mahunoc diatreme complexes

Figure 7 Location Map Showing Proposed Resistivity Survey Area of Coverage in Bunawan Project
Following the granting of the Exploration Permit for Bunawan in August 2014, the Company completed a reconnaissance drilling program of nine holes for 3,074 metres with 6 holes demonstrating mineralization, including 7m @ 4.18g/t Au and 4m @ 12.33g/t Au as announced in the previous quarter.
Induced Polarization Resistivity Survey
A review of ground magnetic, geology and geochemistry data including the Bunawan drilling has been used in the preparation of a proposed Gradient Array – Induced Polarization Resistivity Survey (Figure 7). The survey is expected to take place in the next quarter.
OTHER PROJECTS
The Bahayan Project comprises Exploration Permit Application # EPA 123-XIII that covers a total area of 6,924 hectares. The northern Parcel 2, with an area of 2,096 hectares, was the subject of previous geological mapping, soil geochemical, and drainage sampling surveys.
The Bahayan area hosts several alteration and vein zones all typical of those formed marginal to porphyry intrusions and characterised by phyllic-argillic hydrothermal alteration with quartz-sulphide style vein Au mineralisation, locally worked by artisan miners in areas of near surface supergene enrichment.
Work at the Bahayan project during the quarter included –
Continued geological mapping and sampling at Bahayan has indicated the potential for a copper gold porphry prospect overprinted by epithermal gold fissure veins.
- Copper bearing areas have been identified in the quarter at the Kawayan, Tagkan, Bahayan and Alimot prospects.
- 25 rock chip samples were collected and sent to Intertek. The best assay was returned from a Bahayan River channel sample with a weighted average grade of 5m @ 1.18% Cu, 0.41 g/t Au, 30.1 g/t Ag. At Galasyo Creek, andesite lava containing disseminated native copper returned a grade of 1.5m @ 0.25 % Cu, 0.01 g/t Au. At Lando Creek a quartz vein assayed 0.2m @ 0.64% Cu and the andesite wall rocks ran 2m @ 0.23% Cu. These results are very encouraging and indicate that the Company is exploring the right geological domain.
Geophysical Survey
The preparation for the proposed ground magnetic survey at Cogonon Prospect continued during the quarter. Line-clearing is about 60.4% complete (Figure 8).

Figure 8 Map Showing Ground Magnetic Survey Line‐Clearing Progress to Date
CORPORATE
The Company announced an A$15 million private placement ("Placement") on February 6, 2015, and successfully completed the issue of 16.79 million shares at A$0.68 cents per share for proceeds of circa A$11.4 million as part of Tranche 1, with 5.49 million shares at A$0.68 cents subject to shareholder approval as part of Tranche 2 of the Placement. Shareholder approval was received during the quarter on 10 April 2015 with the receipt of A$3.7M in Tranche 2 funds and the issue of additional shares on April 16, 2015.
ABOUT RTG MINING INC
RTG Mining Inc. is a mining and exploration company listed on the main board of the Toronto Stock Exchange and Australian Securities Exchange Limited. RTG is focused on developing the high grade copper/gold/magnetite Mabilo Project and advancing exploration on the highly prospective Bunawan Project, both in the Philippines, while also identifying major new projects which will allow the Company to move quickly and safely to production.
RTG has an experienced management team (previously responsible for the development of the Masbate Gold Mine in the Philippines through CGA Mining Limited), and has B2Gold as one of its major shareholders in the Company. B2Gold is a member of both the S&P/TSX Global Gold and Global Mining Indices.
ENQUIRIES
Australian Contact President & CEO – Justine Magee
| Tel: | +61 8 6489 2900 |
|---|---|
| Fax: | +61 8 6489 2920 |
| Email: | [email protected] |
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
This announcement includes certain "forward-looking statements" within the meaning of Canadian securities legislation. Statement regarding interpretation of exploration results, plans for further exploration and accuracy of mineral resource and mineral reserve estimates and related assumptions and inherent operating risks, are forwardlooking statements. Forward-looking statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from RTG's expectations include uncertainties related to fluctuations in gold and other commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; the need for cooperation of government agencies in the development of RTG's mineral projects; the need to obtain additional financing to develop RTG's mineral projects; the possibility of delay in development programs or in construction projects and uncertainty of meeting anticipated program milestones for RTG's mineral projects and other risks and uncertainties disclosed under the heading "Risk Factors" in RTG's Annual Information Form for the year ended 31 December 2014 filed with the Canadian securities regulatory authorities on the SEDAR website at sedar.com.
QUALIFIED PERSON AND COMPETENT PERSON STATEMENT
The information in this release that relates to exploration results at the Mabilo Project is based upon information prepared by or under the supervision of Robert Ayres BSc (Hons), who is a Qualified Person and a Competent Person. Mr Ayres is a member of the Australian Institute of Geoscientists and a full-time employee of Mt Labo Exploration and Development Company, a Philippine mining company, an associate company of RTG Mining Limited. Mr Ayres 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 "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" and to qualify as a "Qualified Person" under National Instrument 43- 101 – Standards of Disclosure for Mineral Projects ("NI 43-101"). Mr. Ayres has verified the data disclosed in this release, including sampling, analytical and test data underlying the information contained in the release. Mr. Ayres consents to the inclusion in the release of the matters based on his information in the form and the context in which it appears.
The information in this release that relates to Mineral Resources is based on information prepared by or under the supervision of Mr Aaron Green, who is a Qualified Person and Competent Person. Mr Green is a Member of the Australian Institute of Geoscientists and is employed by CSA Global Pty Ltd, an independent consulting company. Mr Green has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" and to qualify as a "Qualified Person" under National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"). Mr. Green has verified the data disclosed in this release, including sampling, analytical and test data underlying the information contained in the release. Mr Green consents to the inclusion in the release of the matters based on his information in the form and context in which it appears.
The information in this report relating to Bunawan exploration results, mineral resources or ore reserves is based on information provided to Mr Robert McLean by RTG Mining Inc. Mr McLean is an independent consultant geologist and is a corporate member of the Australian Institute of Mining and Metallurgy. Mr McLean has the relevant qualifications, experience, competence and independence to qualify as an "Expert" under the definitions provided in the Valmin Code, "Competent Person" as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, and as a "Qualified Person" under National Instruments 43-101 – Standards of Disclosure for Mineral Projects ("NI 43- 101"). Mr McLean consents to the inclusion in the report of the matters based on the information he has been provided and the context in which it appears.
| HOLE ID | Location | GPSCoordinates (UTM WGS84) | Orientation True Nth | Depth | ||||
|---|---|---|---|---|---|---|---|---|
| Prospect | East | North | RL | Dip | Azi | E.O.H (m) | ||
| MDH-99 | South B | Resource | 476235 | 1559603 | 135 | -63 | 50 | 325.20 |
| MDH-100*** | South B | Resource | 476173 | 1559563 | 120 | -65 | 53 | 170.70 |
| MDH-100A | South B | Resource | 476162 | 1559563 | 120 | -65 | 50 | 343.20 |
| MDH-101** | South B | Resource | 475992 | 1559764 | 119 | -60 | 50 | 317.00 |
| MDH-102 | North | Resource | 476022 | 1560167 | 103 | -45.00 | 30.00 | 284.70 |
| MDH-103** | North | Resource | 476038 | 1560105 | 104 | -58.00 | 0.00 | 232.60 |
| MDH-104* | North | Resource | 476021 | 1560166 | 103 | -55.00 | 50.00 | 222.00 |
| MDH-105* | North | Resource | 476048 | 1560136 | 107 | -55.00 | 50.00 | 185.10 |
| MDH-106* | North | Resource | 476053 | 1560193 | 105 | -55.00 | 50.00 | 170.80 |
| MDH-107* | North | Resource | 476084 | 1560161 | 106 | -55.00 | 50.00 | 163.30 |
| MDH-108* | North | Resource | 476133 | 1560217 | 104 | -55.00 | 50.00 | 123.60 |
| MDH-109 | North | Resource | 476112 | 1560188 | 104 | -55.00 | 50.00 | on-going |
| MDH-110 | North | Resource | 476028 | 1560091 | 106 | -55.00 | 50.00 | on-going |
Appendix 1: Location of Reported Mabilo Drill Holes
* Awaiting Assay
** No significant assay result
***Abandoned hole reset MDH-100A
All co-ordinates in UTM-WGS84 (51 N), Drill holes are surveyed using hand held GPS at this stage.
| Appendix 2: Mineral Resource Estimate | ||||
|---|---|---|---|---|
| -- | --------------------------------------- | -- | -- | -- |
| Mineral Resource Estimate Results - Reporting at 0.3 g/t Au lower cut-off - Mabilo Deposit- South and North Zones (previously announced NI 43-101 on January 8, 2015) | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| WeatheringState | Classification | MillionTonnes | Cu% | Aug/t | Agg/t | Fe% | ContainedAu('000s oz) | ContainedCu('000s t) | ContainedFe('000s t) |
| Oxide + | Indicated | 0.73 | 4.4 | 2.8 | 9.5 | 42.6 | 67.1 | 32.2 | 312.7 |
| Supergene | Inferred | 0.13 | 3.1 | 2.2 | 10.4 | 34.9 | 8.9 | 3.9 | 43.6 |
| Indicated | 5.13 | 1.7 | 2.1 | 8.3 | 49.9 | 346.8 | 88.9 | 2,563.0 | |
| Fresh | Inferred | 5.37 | 1.5 | 1.7 | 12.9 | 39.1 | 293.1 | 80.4 | 2,101.9 |
| Note: The Mineral Resource was estimated within constraining wireframe solids based on the mineralised geological |
units. This resource table is quoted from all classified blocks above a lower cut-off grade 0.3 g/t Au within these wireframe solids. Differences may occur due to rounding
Appendix 3 – Schedule of interests and location of Tenements
| Tenement reference | Location | Nature of interest | Interest atbeginning ofquarter | Interest at endof quarter |
|---|---|---|---|---|
| Application for Mineral ProductionSharing Agreement APSA-V-002 | Philippines | RTG's interest is held through itsinterest in its associate entity, MtLabo Exploration and DevelopmentCorporation. | 40% | 40% |
| MLC MRD 459 | Philippines | 40% | 40% | |
| Exploration Permit ("EP") 014-2013-V | Philippines | 40% | 40% | |
| EXPA-0000209-V | Philippines | - | 40% | |
| EXPA-000188-V | Philippines | 40% | 40% | |
| Exploration Permit Application("EXPA") 118-XI | Philippines | RTG's interest is held through itsinterest in its associate entity | 40% | 40% |
| APSA-03-XIII | Philippines | Bunawan Mining Corporation. | 40% | 40% |
| EP 033-XIII | Philippines | 40% | 40% | |
| EP-01-06-XI | Philippines | RTG's interest is held through itsinterest in its associate entity Oz | 40% | 40% |
| EP-01-10XI | Philippines | Metals Exploration & DevelopmentCorporation. | ||
| EP-02-10-XI | Philippines | 40% | 40% | |
| EXPA-123-XI | Philippines | 40% | 40% |
Appendix 4: JORC Code 2012 Edition Table 1 for Mabilo
Section 1 Sampling Techniques and Data
| Criiater | JORCCodelaniotexpan | Cotammenry |
|---|---|---|
| Salinmpghniqtecues | f s(Nad qlilinghals,turtyt ce anuaoampe.g. cnneudohipificialisedindutryranmcs,orspecspecsdad mlsiahetanttootetotsreasuremenapproprinelsdeinvigionh adoholettmraunresasucswn,).dehadheldXRFinstruts,tcgammasons,ornmeneTheleshold nbekelimiinghettattseexampsuon asf sbrd minglingoaeanoamp | Thedadheinisbadlingfdiamddrill cfPQ,tateassayreporreseonsampoonoreoQQSaHdNdiamtehich wt with adiamd clesllyaner wascuonore sawmparegeneraf1lenth,lthohionllylightlylonhotehehainomgaugoccasasgeror srr wrecngeslithologizeired adjtmtslest mthay,coresorcorerecoveryrequusen;sampare nooren2lenh.tmg |
| Includeferketotatoreencemeasuresnensureleividheialibrionttyttetsamprepresenanapproprcaaf alsd.ttootemonymeasuremenorsyss use | f efoThelenth ohdrill ruisded adtheh rlculated ogacnrecornrecoveryr eacuncanitedhekedintthehed.Cetifiedfetadadsdblanksanccagaacoresrrerencesnranflesbmittedtothedisiontheltsdsamperesuassessaccuracanprecoresuanwy20th sleintotwdthetwtelesbmittedeveryampwas sawnoanoquarr coresampsu | |
| Asfhedeinaionf minelisaionhatsttertttt apecomorareMaialhePublicRetertott.por | folyistelydulicatele.r anasseparaasapsampHalf clest adtfolyisbyindedetISO-tifiedoresampwerecunsenr anasanpenncer()SalabotoIntetekMcPhaLabotoinMaila.lesheddraryrrrarynmpwerecrusanlveised(95%75).Goldlydby50firedthethe<purμmwasanasegassayanorCS(ColemtsincludingdirobyIP-MIndutivelyledPlasMaeencopperanncupmassSptrotry)ICP-OES(IndutivelyColedPlasOpticalEmissionecmeorcupmaSp)fofotrotryllowingiddigt.ecmeaur-aces | |
| Drillinhniqtegcues | (Drillirclaion-hletytpee.g. core,reversecopenou,hairblasBakaic,)tart,tcmmerroyaaugerngsone,,,(ddeilsdiamipledadbetatertrtantuanegcoreeorsr,,dehfdiamdils,faclingbihettat otpoone-sampr orf sheheisiend adibyhatyttetpe,r coreorno,wwhod,).ttcmee | DrillingbyPQ,HQdNQdiamiplebediamdingThetetrtuasaner,oncorcorewaswt oientated.nor |
| Drilllesamprecovery | Mhod of rdingd aingd chipteecoranssesscore anleiesd rld.tssamprecoveranesuassesse | CoisinitiallyditebytrainedtehniciandbythererecoverymeasureonscsanisinglogisAnlosisd,heislculadt.ttatesupergeocoresmeasurepercengecavyfofedbothdedinthetehnicallogheinganarerecorgeocr rerencenassesswltsassayresu |
| Mkeimiseledtatoeasuresnmasamprecoveryanx |
| Criiater | JORCCodelaniotexpan | Cotammenry |
|---|---|---|
| ivefhelestatturtensurerepresennae osamp | All ciskeimfdiamdddrillertatoarenensuremaumrecoveryooncoreans arexfoff cf pindtheimtaAnrmeopornceoorerecoveryyareas ooor corerecoveryledtelythultsbediretlylatedtoaresampseparasassayresucancrecorerecoveryThejityftheinelisationisinfrehk wheiestemaoromrasrocrerecoveraregrearha90%Moinelisaioninideinionfivettttetnsmraoccursrsecsomassw | |
| titekaithlativelyifodlddeColosmagnesrnwreunrmcopperangogras.resfrafintubutisllyt aigiicat pblemi.ethelostoccurscrezonesusuanosnnrocoreinfraislikelyhabeigificalyhighelowdetutotcrezonesunveensnnr orergrathathedingteial.Inthethedhetiticidised znsurrounmarwearemaoxonessomelosisidable,bull rislly90%dhet ot>coresunavoveraecovergeneraancoreylosislumtricallyinointheinelised zInf psvoemrmraonesareas ooor recovery,ftheleintelsdtoincideithdrill rthusamprvaarearrangecowuns,sareasodiffet clostaifictoindividul sleshichberenorespercengearespecaampwcanfudheintetinglytical rltsddelledintuassessewnrpreanaesuanmoreresourceimiondiesWhef100%losisideifiedheletttuttesasreanareaocoresnsampintelskedtoh sidefthedtheisdeigted"Nrvaaremareacozoneanzonesnao" adigdlueinheiouloghedheicalttscorenassnezerovaarsseangeocmvdatabase | ||
| Whehelaionhipisbeletttstwr aresexeen sampd gdedhehelebiastrecoveryanraanwr sampmayfer/gfhadduiallosintotveoccurreepreensaofine/cial.teroarsema | TheisdisciblelationhipbetwddeTherenoernreseencorerecoveryangrakabodieslativelyifoigificatlenthsdthedsrnarereunrmover snngancopperanlddeladlaydfrahichheint rtetotutgograsarenoecancrezoneswaremaf closcausesoores. | |
| Loinggg | Whehed chipleshabelogicaltr core ansampveengeofd ghnicallylogdlevl odeiltectotatoaneogeaesupporiaMinelReimioniningtettapproprrasourceesam,diesd mllurical sdiestutatusaneg | lyDiamddrill cfohtiredrillholelogdinigificatdetailinonorer eacenwasgesnnfbeloginghetsincludinglogicallogtrutullogtehnicatnumr ogseageoa scraa geoc,,logdicibililogfoheiredrillhole.Minelisedtttyttanamagnesusceprenraanledintelslogdindividullyintetitativeinellogsamprvaaregeaa separaquanmrawtafthediffetinelsbeingded.Thelogingpercengesorencoppermrarecorgfoiateinel retimtesdiningtudiesapproprr mrasourceesaanms |
| Whehelogingisliiveiiveinttatttatturrgquaor quannae.Co(hal,)hohyteatc.togreorcosn,cnneeprap | Mot ofthelogicallogingisixtuf qlitative(deiptionftheiousgeogamreouascrs ovarfe)(f vfralogicaltudtitativebedlesinsdtugeoaresanquannumrsanangoeancinel p).Theiiveinelisaionlogdtatcttatttzones,mraercengesequanmraantictibilitylogtitativePhotohstakef all c(bomagnesusceparequangraparen ooreddr)iorhebeingt atott.wenyprcorecu | |
| fThellenh ad phelevtotattagttgnercene oreaninionlogd.tertsecsge | All cincludingbabudeislogdintheiouloginghetsteore,rren overrngevarsgseno |
| Criiater | JORCCodelaniotexpan | Cotammenry |
|---|---|---|
| frobotthetitativeinelisationloginhichlytheinelisedaveaparmquanmrawonmrainlsfoheical alyislogdindeil.tettetarvasenr geocmnasaregegrear | ||
| Suinb-lsampghniqdtecuesanlesampiotpreparan | If chehedhehehalftt otterore,r cr sawn anr quarwuw,ll cketaoraoren. | All slingdaisfrodiamddrill cSalesf shalf ctatampmonore.mpareoawnoreexcepfodulicateleshichteHalf cisbaddttorpsampwarequarr core.oreggeansenanISO-ifiedindedelabofolyis.Thehehalfinedfotttottacerpennraryranasorrerfed/ofuthetetwk.rerence anrrrsor |
| f nffIheheiled,beled,littutart,on-corer rsamprospwy,dheheleddrytctt oeanwr sampwer | Nolicablefodiamd cdrillingt appronore | |
| Foll slehelidtytturtyr aamppesnae,quaan,iafheleionhniqtentttecappropress osamppreparaue | All clesdried,hed9%10d1.kgb-leisto55<oresamperecrusmmanassampwutedingifflelittedlveisedto95%75A50 gb-le<separausarspr anpurμmsusampisilisedfirehafoldlyis.Theleionttasa-assaycrgergoanassamppreparautehniqd sb-lingisiatefotheinelisationcueanusampapproprrmra | |
| Qulil pdudodforll sb-lingtytroteaconroceres apausampimiseivif slestagtottysesmaxrepresenoamp | Blanklesddulicalesbmidinelyihetettettototsampanpsamparesuromonrulingdlytical pdtothat slestativefsampananarocessanensureamparerepresenoOn20 sff cinituteial.inleshalisintodutwsmareeveryampooresawnagaproceotedulicateleshichbmittedtothelabototelyquarr corepsampwaresuraryseparaffeithdit slebeAblank sleinstedintolebatchewrenampnumrsampwasersampsth st e20le.averyamp | |
| Mkehahelingistatottteasuresnensuresampfiveheiniial cllecd,includingtatttuterterepresenosmaoforinslforfielddulica/sd-halftantsteceresupeconlingsamp | f mThetitekainelisationinteivetitekamagnesrnmraoccursexnsonesoagnesrnzithdissinatedhalcoitetainingld.Theleizef aimtelywemcpyrcongosampsopproxa,f1 mlenthisitableinttotheinizetheinelisationcoregsurespecgrasomra | |
| Wheheleizeiaheinizettetotr sampss areapproprgrasfheialbeingled.tteromasamp | foTheleizeisidediatetheteial sled.Itisbelievdsampsconsreapproprrmarampehainizehabeinghedefheledial.tt gttterass noarongraosampmar | |
| Quliftyaoassaydatadanlabototetsrarys | Thelid aiafheturtytentnae,quaanppropress oingdlabodud adtorassaanraproceres usenyyhehehehniqisided pial ol.tttecttotawrueconsrearr | SO-fGoAll cleslydt aItiiedindedetlabotoldoresampwereanaseancerpennrarylydby50firedhehelemincludingdirotttswas anasegassayanor eencopperannCSCOSfofolydbyIP-MIP-Ellowingiddigt.Thelewereanaseorauracessampiond ahniqfinionlindudad ad cbettetettrytapreparaanssaycues areornaassnrnanidedtotal.consre |
| Fohyicalls,hadheldXRFtootroterr geopsspecmes,n | Nohyicallsdfolyisdhein.Maictotetgeopsowereuseranyanasreporregne |
| Criiater | JORCCodelaniotexpan | Cotammenry |
|---|---|---|
| inshedindeiningtruts,tc,ttertermeneparames usemhelyisincludinginsked mdel,ttrut manasmenaanodingimlibrionfaclied adheirtttortreaescaass appn,deivaionttc.re, | ibilidingdinicdellingbudimttytt at utottesuscepreas areusemagnemorenoseesatiteFetet.magneorconn | |
| Naf qlil pdudod(turtytrotee ouaconroceres ape.gdadsblanksdulicallabotantestertorsrpexnaray,,,heks)dheheblelevlsf a(iettaccanr accepeoccuracwylack ofbias)d pisionhabeblished.taanrecveenes | Qulil cledbyRTGincludedlyisf sdadsblanksdtytrotetaaconompanasonran,,dulicateCoialCetifiedRefeMateialsinstedintoleps.mmercrrencerwereersampthth020batche4le.Ablankleinstedle;theseversampsampwasereversampyyblank sleteialhabedddfrolocl qOninampmarsensourceanpreparemaauarrye202lesistintoteleshichbmittedevercoresampcuquarr coresampweresuywindedetlyiththeir olebeIndditionIntetek cdutedtheirpennwwnsampnumrsaronc,ivehek slingfheir oinlQAQChichtet otteown ensccampas parwnrnaprocessesxwistedinthehetsAdf rltsfrolldulicateblanksdreporassayserecoroesumaps,anfoQ/QCf atadadsisintainedingAt.Exinationllthesnrmar ongoassessmenamoQAQCledataindicatetisfatofoffieldlingtolssampssacryperrmanceosampprocodthelabotoanassayrary | |
| Veificaioftrnolindsampganinassayg | ff sfTheiicaionigiicainionbyihettterttveronnsecserindedelivel.t otertpennr anacompanypersonne | Sffigiicatinelisationintetioniiedbyltetivennmrarsecswereverarnacompanyl.personne |
| Thefinndholestwseoeu | Noinndholeshabedrilled.tweveen | |
| Doionf pimdadatatta,tatrycumenoraryendudaificaionda(hyicaltattatorproceres,versageps,d elecic)ls.trotocannproo | Datadotationificationdtoisdutedindaithcumenveransrageconcaccorncew,RTG'sSdadOpingPrduMalfoheMabiloPrjThediamdtattt.nreraoceresnuaroecondrill cisllylogdinigificatdetailinbef steExloremanuagesnnanumr oeparacelalogingheLoingisdedllyloginghedtetetstsmpgseggrecormanuaongseantraibedintotetedExl sdshettelatesteddiretlyintothenscrproccepreaempor enrecExllaThedalidadbybohhePrjGelogisdhetetetatetttt atcemps.arevaoeconDatabaMad uloadedtothededicated pjtdatabahecompanysenageranproecsewrehed wih alddigillybyhelaboHad ciestttstetattoaremergessayresureporraryropyf allloginghetsket atthePrjt officeinDat.ogsearepoece | |
| Discdjdatmttota.uss anyausenassay | Nodjhabededatmtstotaausenveenmaassay | |
| Loiofdattacanointspo | Acd qlif sdlocdrilltytotecuracyanuaourveys useaholes(llarddo-hle),heinetrecoanwnosurveysncs,mkingd ohelociondinMinelttwors anras useraReimionttsourceesa | Drill-holellarinitiallydithhad-heldGPSithfcosaresurveyewanwanaccuracyoimly/-Coledholesdbyindedelifiedte5tet q+approxammparesurveeanpennuayiodicbaisingtadaddiffetialGPS(DGPS)iptsurveyoronapersussnrrenequmenhievingb-deiminhoizol ad vical piiontretattacsuceaccuracrnnerosy |
| Spificaionfheid sd.tttemecogrysuse | Drill cllardinUTMWGS84Zo51Nid.os aresurveyenegr |
| Criiater | J | ORCCodelaniotexpan | Co | tammenry |
|---|---|---|---|---|
| | Qulid adefhicl.tytoptroaanquacyoograpcon | | TheMabilojt aislativelyflat withtotal viationintohylesthaproecrearearpograpsn1GS5TohictrolisidedbyDPingmpograpconprovsurvey | |
| Daindtaspacgandisibuiotrtn | | forfDaingingExlorionReltattts.spacreporopasu | | 200Drillholeslandinal gidithbetwdrillholes4arepneonanomrwmeenonmdlinespaces. |
| | Whehehedaingddisibuionisfficientttatrttrspacansublishhedef glogical ad gdetotatesgree oeonrainuiiaforheMinelRedttytetconapproprrasourceanOrReimiondu()dtteserve esaproceresanlasificaionlied.tcss app | | Thedrillholeingdeigddeineheinuidfhetotetttytet otspacassnermconanexnwinelised skaBad otatistical at ofdrill reltstodatethemrarnzones.sen sssessmensu,ffinal4020drillholeingisicienttotMinelRenomxmspacsusupporrasourceimionttesa | |
| | Wheheleiinghabelied.ttr sampcompossenapp | | Noitingfintelsinthefield wdetakecomposorvaasunrn. | |
| Orieniofdatattanoinlaiottorenloicalgeogtrutuscre | | Wheheheienionf slinghievtttatroroampacesbiasd slingf pibledhetruturtuneampoossscesanhichhisisknideinghedeitenttotttexown,consrposwtype. | | Nobiasibubleienionflingdingflhabettrtatotattsaorosampupgraoresusenidetified.n |
| | Ifhelaionhipbehedrillingieniondtttwttatreseenoranheienionfkeinelised sisttattruturoroymracesidedhaindud alingbiashistotrotconsrevecesamp,holdbed ad rdif mial.tetersuassessenepora | | Nobiasibubleienionflingdingflhabettrtatotattsaorosamppgraoresusenuidetified.n | |
| Saleitympsecur | | Thekeleitatoty.measuresnensuresampsecur | | Chainf ctodyisdbyRTGloySalestodinousmanageempees.mpweresresecurefroheimfdrillinghrh gheingdliingReiningistottttttsragemeoougaranspmacore,ketind attheCoionl officeinDattowd gdedpa secure compounmpanyregaen anuarighSalesdirelyfrohehedhelabokedint nt.ttttottoamparesencmcoresrarypacd ad sled plasticdringitheCohicleslocltratsecureneaums usermpanyveor aansporCfCufofoAtadadhaintodyisigdbythedriveiblecompany.snrosrmsner responsrtratingthelesipt of slesttheddisigdbynsporsampuponreceampacoreyaransneffColoythelabotoipt othelestthelabotoletedanempeeoraryonrecesampararympfotudtotheCofofilingrms arerernempanyr |
| Audiietsorrevws | | Thelf adiiewf slingtstsresuonyauorrevs oamphniqddatecta.ues an | | ThelingtehniqdQA/QCdataiewdingbaisbysampcuesanarereveonanongosCot adindedet cltatsmpanymanagemennpennonsun |
Section 2 Reporting of Exploration Results
| Criiater | JORCCodelaniotexpan | Cotammenry |
|---|---|---|
| Minlteteranemendlandteannuretatuss | Tyfer/nbelociond ohiptpe,reencenameumr,aanwnersincludingialissihhirdtsterttagreemenormaues wiesh ajinhipidingtt vturtneparsucsoenesparrss,overr,liesiveileinhisical siildettttterts,tortesroyanaeswrness,,ionl pk ad eirol singttattornaaarnnvnmenes. | TheMabiloPrjisdbyExlorionPeiEP-014-2013-VdtttoeccovereparmanExlortionPeitAplicationEXPA-000188-VdEXPA0000209-V.EPparmpsan014-2013-VissdMLaboExloriondDelopCoiontottttwasuepaanvemenrpora("M"),fG%tLaboiatedtityRTMiningIncTheis1ltyanassocenorearoyableiningivedbyMLaboinlaionEP-014-2013-t mtttopayaonnerevenue recereV.MtLabohatedintojint vtut withGaleoEqipt ads enreaoenreagreemenumennCo("G")MiningIncleototninloringddelopingthempany,aparerexpanveMabilodNalesbiPrjGaleo36%ininhetatstotettannoeccanearnuparesPrjtsdoto200belowfabytributingimtelyoecwnmsurceconapproxa,,$US4,20,000 of eloriondrillingdicefohePrj5tt sttsxpaanmanagemenersroecv2 yiod.overaear perInNobe2013,SierMiningLimid("Sier"),hollydbsidiartevemrraraaownesuwyfRTG,dGaleoigdMedufUndetading("MOU")ttingoansneamoranmorsnset pdhatothejint vtuttothedethlimitouroposecngesoenreagreemenremovepf200 mfrohed pidefoddiionldrillingf5,000 mbelowtt atomagreemennrovr aao200 mTheMOUlsoidefoGaleotobetedits36%intet ufrotaprovsrgranrespnihhebilifoRTGlaw-bk ainded nd ahedtttytotett ettarcacnyresemeoarneenwfthelaw-bk piod.ThedmtstotheJVAgt abjttoocaceramenenreemenresuecSierhaholdel.rasrer approvaSierhalsoted adMOUithGaleohebyGaleoras aenreseconwwrecan earn an%f wdditionl6intetinthejint vtubyiningtheinitial1.5Mt otetaaresoenremasaMabiloNalesbidheireincludingisihtattstatornanorrequmenassncewittingTheMOUisbjttobef cditiondet,includingpermsuecanumr oonsprecen |
| Theifheheld aheimf ringtyttenttttsecurouree oeporlonih aknimdimbiningttstotaagwnyownpeenoaliceinhetotetnseoperaarea. | Sierhaholdel.rasrer approvaThehelybeinglordMabiloisdtettttenureoverareacurrenexpeaagranExlortionPeit whichisidedTheistivetitleparmconsresecurerenonaorIndigldoinslaimMabilo.tratenous ancesmacs a | |
| Exloiodobytpranneheiesttor par | Acknledgd aisal of elorionbyhet attowmennppraxpaoriestpar | ThelyigificaioulorionheMabilojt pttt aonsnnrevsexpaoverproecreawasadrillingt atheiteithinthetet addticprogramanor swnemennagrounmagneRTG(ideSier)hadhisdainioutstettasurveorprecessorrasreporprevsy.tstotheASXddthedticbaisfoinitialreporanusegrounmagnesurveyasasrdrill siingSubslyRTGdudidicihtttetsttequenconcown grounmagnesurveywlosd slined rdingintelshich sdethehistoicalcerspaceurveys anearvawupersesrTheknioulorioninhefhedtttteprogramrewas noownprevs expaareaoreporMinelRerasource |
| Criiater | CCoioJORdelantexpan | Cotammenry |
|---|---|---|
| Geloogy | fDeilogical singd slettytttypospe,geoeanoinelisaiontmra | fMinelisationtMabilobedeined atiteld skahichraacans amagne-copper-gornwdelopdhethetiteldinelisationlacdveewremagne-copper-gomrarepelcahoizointheEoTubaFotioninthetat zcareousrnsceneagemgarmaconconef aMiocdioriteintruionoenes |
| DrillholeInfoiotrman | Af allinforionialhettertotsummaryomamadedingfhelorionlincludingtantttsunrsoexparesuabulaionfhefollowinginforionforllMaialdrilltatttteromaaholes:ingd nhingfhedrillholellarttteasanorocoolevionRL(RedudLel –levionbotteaorceveeaaveolevlin)fhedrillholellartretseaemesocodipd aimhfheholettanzuoodoholelenh adiniondehtterttwngnceppoholelenh.tgo | All relevtdrillholeinfotionhabeioulytedtotheASX.Noanrmasenprevsreporfoteial chahadtothisintionincit wiginallymarngesveoccurrermaseasord.terepor |
| Ifhelusionfhisinforionisjified ohetttttexcomausnbaishaheinforionisMaial adhisttttttertsmanonlusiondodefrohededingfhettratttantexcesnocmunrsoheCoPehold clealylainhyt,ttentrepormperson srexpuwhisishettcase | All relevdahabed.ttateansenrepor | |
| Daiotataggreganhodstme | IningExlorionRelighingingttts,treporpasuweaverag/ohniqimdinimdetecues,maumanr mumgraxion(ingfhigh gde)d cfftrutttt-oncase.g. cuorasanudellyMaial ad sholdbed.tertategras areusuansu | Not rtinglortionltseporexparesu |
| Wheinincholenhsftetertstettreaggregaceporporasrgofhigh gdeldlonlenhslowdetstraresuangergogralhedudforh aionholdts,ttresuprocereusesucggregasuf sbed ad sical eleshtatetysnomepxampoucionholdbehoindeil.ttaaggregas suswn | Noinglorionlt rtttseporexparesu | |
| Theiondforingf mltttaassumps useanyreporoeivalenlueholdbelealyd.t vtateequas sucrs | Badliminatalluricaltetwkdetakebyiouseonprerymegsorunrnprevsowners,includingfloiondicionhefollowingionfoldtatttttanmagneseparaassumpsr go, |
| Criiater | CCoJORdelaniotexpan | Cotammenry |
|---|---|---|
| ivalentseqare:-u$GoS/oGo%ldPriceU1,150ld90zrecovery–$CoPriceUS6,00/Co90%7tpperpperrecovery–$SilvePriceUS15.50/oSilve60%rzr recovery –$IroPriceUS90/Iro0%t7nn recovery –Thelculationfold eivalent vluebad othefollowingfola:car goquas wassenrmu$$*$=((*AOz)(*C)(F)AuEq0.91,1500.9Metal6,7000.7Metal90+++uue$$(0.6*AOz15.5))/1,150g | ||
| Relaiohiptnsbetweeninlisaiotmeranidthsdanwinlenhstettrcepg | Thelaionhipicularlyiminhetttanttseress areparporingfExlorionRelttts.reporopasu | TheMabilodrillhabedrilledboh vicallydinclined.Theienionftttatveeneranorotheinelisedbodiesisbadintetationf glogfrodrillholesmraseonrpreoeoymftedbyticdellinghichindicatethaththesuppormagnemowsmucoinelisationisdipingtothethwt.mrapsoues |
| Ifhefheinelisaionih rhettrytttttotgeomeomrawespecdrillholeleiskniholdbed.tsturteangown,nae sreporu | fTheintetedientationtheinelisedbodiesisbadticrpreoromraseonmagnedellingddrill-holedatadisdotedinthet.Thefatthatthemoanancumenreporcfointetionindipingbodydthettruidthshabersecsareapanrerenoewsented.repor | |
| Ifiisknd olyhedoholelenhsttttnoown annwngared,heholdbeleahisffectettatemttottreporresacr seneu('doholelenh,idh nkn').ttruttegwngewoown | fNointelsted cbedtobetruidth otheinelisationrvareporanassumeae wmra | |
| Diagrams | Apiad sion(ih sles)dtettproprmaps anecswcaanfforbulaioninholdbeincludedtattertss ocepsanyuigificadiscbeingdTheholdttesnnoveryreporsesufincludebubelimidlaniewdrillholet nttetooa pov,llarlociond aiaionl viewttetcoas anpproprsecas. | Refetofigithintheinbodyfthist.rureswmaorepor |
| Balandintcereporg | Wheheiveingf allExlorionttrecomprensreporopaRelisicable,iveingftst pttattsunoracrepresenreporobohlowdhigh gded/oidhsholdbettanras anr wsuicedid misleadingingfExlorionttottpracavoreporopaRelts.su | Not alicable.pp |
| Oivehebsttatrsunloiodattaexpran | Oheloriondaif mingful ad mial,ttta,terr expaeanna()holdbedincludingbulimidtet nttetosureporo:logical obsionhyical sltts;geoervas;geopsurveresuyheical slbulk slesizedts;geocmurveyresuampsan–hod oflluricallbulkttretmt;tatest rts;meaenmegesudeidwhnical ad rkty,tertecnsgrounageonoc,haisicsialdeleiouinaingterttenttertamtcracpos or con;bstansuces. | Allingful eloriondaingheMabiloPrjhabettattmeanxpaconcernoecsenStedinioutstotheAX.reporprevs repor |
| Criiater | CCoJORdelaniotexpan | Cotammenry |
|---|---|---|
| Fuhektrr wor | (Thed slef plandfurhekturttestsnae ancaoner wore.gforlal eiondehionlarletertenttenass orpexss orge-scax).drillingtepts-ou | FuthedrillingislandttheMabiloPrjt whichill steticallytetrrpneaoecwysmasicbodiesdlonikedbeheNohttettatstrtwttmagneansp-ourgeagsaneenrSofroMinelisedZodthethMinelisedZoll ado-dipraneanuraneasweswnmhetsezones. |
| Diaglealyhighlighinghef piblettramscrareasoossionincludingheinlogicaltentexss,mageoiniondfudrillingidedhistertatturtpres aneareasprov,inforionisiallyiivett ctmanoommercsens | Refefigihinheinbodyfhistotttt.ruresmaoreporw |
Section 3 Estimation and Reporting of Mineral Resources
| Criiater | J | ORCCodelaniotexpan | Cotammenry | |
|---|---|---|---|---|
| Dabainitategtyser | | Mkehadahabetatotttateasuresnensures noendbyforle,ipionkeingtetratcorrupexampnscrory,forbeiiniial cllecionditwtstttserrors,eenoanuseMinelReimionttrasourceesapurposes | | DadinheMinelReimisdfrodabatatttetat.userasourceesasourcemaseexporRelevttablesfrothedatabatedtoMSExlfot adtedanmseareexporcermanconverfofoiminDaineSdio3ffoinheMineltotttotatutwtcsrmarpormsoarer useravRetimtesourceesa |
| | Dalidaiondud.tatvaproceres use | | ffoValidationthedataimtincludehekslapingintels,issingoporccr overprvamsurveydataissingdataissinglithologicaldatadissingllarmassaymanmcos.,,, | |
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| hisishettcase | ||||
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| Criiater | JORCCodelaniotexpan | Cotammenry |
|---|---|---|
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| Criiater | JORCCodelaniotexpan | Cotammenry |
|---|---|---|
| Theilabilif chek eimioutyttesavaocsaprevs,/oimdineduiondsdttestesaanr mprocrecoranheheheMinelReimkettttetawrrasourceesasf siahdatet ota.appropraccounuc | benumrsOSFothisideMinelReK adIDtimteleted ctlyrmanrasourcenesas arecomponcurreninbef eimionih vingTheldttttetsanumr osarunswaryparamersresuarecompareinst ehthedthedrillholeltstobletimtethatagaacor anresuensureareasonaesa,behohedrill sledaisd.tttatesnoursampreporNoininghakelachedeittatttsms yen pe asepos | |
| Theiondedingfbytassumps maregarrecoveryoduts.proc | AghabeimddisdbelsoblefheAuttetot otsenesaanassumearecoveraasparrecoveryprocesses | |
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| Criiater | J | ORCCodelaniotexpan | Cotammenry | |
|---|---|---|---|---|
| | Discionfbaisforingingdet uussosusor nosgraingingttcuor capp | | habedinthedetimtionveenusegraesaSisicallyishekdelaiondisibuioninghistatttottrttoanasccgrapopususgrams,fffbabilitylotsdtatisticsdtheicientiationpropansummarysanco-eovarwas,ledh zfoheimdlemOulierdeioulytetttetstcomponeaconeresaeengras were varsfofoffedt elemtsinthedit minelisedlithologicaldoindunr mosenrenramazonesaniaheliedduinfluefheliertetotstottapproprp-cuwreappremoveunenceoseou | |
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| Melluicaltargfatocrsoriotassumpns | | Thebaisforiondiciondingttsassumps or pres regarllurical abiliIislwtaty.tmegmenaaays necessaryasfhefdeiningblet otterparprocessomreasonaforl eiciontstuatrattoprospecevenconomexc | | Notiondingtallurical abilityhabedeMetalluricalassumps regarmegmenaveenmagkislybeingdeked rlfrohisk willbeincdtetwttatsttesorcurrennrn anesmwororporauuintofutudel udateTheidetionf similardeitsintheionremops.oxporsoposregarebeingfullyloidbyheiiesdiisdhahetetttttttsuccessexpor enanassumesezones, |
| Criiater | JORCCodelaniotexpan | Cotammenry |
|---|---|---|
| ideial mllurical mhodsbuhetenttatttconsr poege,iondinglluricalttatretmtassumps regarmegaend pdeheingtertprocessesanarames mawnreporMinelRelwbeigt arasources maynoaysrorous.Whehisishehisholdbedihttttetrecasesureporw,lanionfhebaisfhelluricalttttaanexpaosomegiondetassumps ma | beicallyloitedtthedelleddeItisdthatthecaneconomexpamogras.assumeunhedinelisedial willbedilydedheingttewearemramarreaupgrawrenecessary,ustadad gityticd/ofrothflotationtrationtehniqsnrravmagneprocessesanrconcencues,iafohediffedutett pt streasapproprrrenrocams. | |
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| Criiater | CCoJORdelaniotexpan | Cotammenry |
|---|---|---|
| imdinelisedblockstteesamra | ||
| Clasificaiotsn | forffThebaishelasiicaionheMineltttscsoraReiningfideiestotegsourcesvaryconnce caor | ClasificaionfheMinelReimied okinginttttettatotsorasourceesas wascarraccounuthelevl of glogical udetadingfthedeit,lityf slesdeitydataeeonrsnoposquaoampns,ddrillholeinganspac |
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| Thef rlaivedtatemtstsesenoeaccuracyanfidefheimholdbedttteconnce oesascompareuih pduiondaheilable.ttta,wrocwreava | Thedeithat,dist ctlybeingined.poss noannourrenm |
Appendix 5: JORC Code 2012 Edition
Table 1 Bunawan Drilling Program
| Criteria | Explanation | Commentary |
|---|---|---|
| Samplingtechniques | Nature and quality of sampling (e.g. cut channels,random chips, or specific specialised industry standardmeasurement tools appropriate to the minerals underinvestigation, such as down hole gamma sondes, orhandheld XRF instruments, etc). These examplesshould not be taken as limiting the broad meaning ofsampling. | The data reported is based on sampling of DiamondDrill core of PQ and HQ diameter. The core was splitwith a diamond core saw and half core samples of 1metre length or less sent for analysis by an independentISO certified laboratory (Intertek Testing ServicesPhilippines, Inc.) in Manila. |
| Include reference to measures taken to ensure samplerepresentivity and the appropriate calibration of anymeasurement tools or systems used. | The drilling was reconnaissance in nature and no fieldduplicates or certified reference standards (CRM) weresubmitted. The laboratory which analysed the samplesconducted extensive check sampling as part of theirown internal QA processes which was reported in theassay sheets. | |
| For the 341 samples submitted Intertek conducted 21Second Sample analyses (from second splits of thecoarse crushed sample prior to pulverising) and 37Repeat Sample analyses ( a separate split and digest /Fire assay from the pulverised material) in addition to21 assays of their own blank material and 41 assays ofCRMstandards.Theresultsindicateacceptableaccuracy and repeatability. | ||
| Aspects of the determination of mineralisation that areMaterial to the Public Report. In cases where 'industrystandard' work has been done this would be relativelysimple (e.g. 'reverse circulation drilling was used toobtain 1 m samples from which 3 kg was pulverised toproduce a 30 g charge for fire assay'). In other casesmore explanation may be required, such as where thereis coarse gold that has inherent sampling problems.Unusual commodities or mineralisation types (e.g.submarine nodules) may warrant disclosure of detailedinformation. | Diamond drill core of PQ and NQ diameter were cut inhalf and half core samples submitted to the Laboratory.Sample intervals were one metre or less. Samples werecrushed and pulverized (95%<75 um). Gold wasanalysed by 50 g Fire assay/AAS and Ag, Cu, Pb, Zn andAs by AAS. Residual half core has been retained forreference and future metallurgical testwork. Coarserejects and pulps will be retrieved from the laboratoryand stored for future reference and umpire assays. | |
| Drillingtechniques | Drill type (e.g. core, reverse circulation, open-holehammer, rotary air blast, auger, Bangka, sonic, etc.) anddetails (e.g. core diameter, triple or standard tube, depthof diamond tails, face-sampling bit or other type,whether core is oriented and if so, by what method, etc.). | Drilling was by PQ and HQ diameter, triple tubediamond core. The hole collars were surveyed (GPS)but down hole orientation surveys were not conductedand the core was not orientated. |
| Drillsamplerecovery | Method of recording and assessing core and chipsample recoveries and results assessed. | Core recovery was initially measured on site by trainedtechnicians and again in the core shed by the core shedgeologist. Any core loss is measured, the percentagecalculated and both are recorded in the Geotech log. Ininstances where core breaks off before the bottom ofthe hole leading to "apparent poor recovery" followedby a core run of > 100 % recovery the adjustment ismade in the records. The core recoveries in the nineholes drilled were excellent with all holes individually |
| Criteria | Explanation | Commentary |
|---|---|---|
| averaging greater than 98% and the combined averageof all nine holes being greater than 99% recovery. | ||
| Measures taken to maximise sample recovery andensure representative nature of the samples. | Drillers are informed of the importance of corerecovery and all care is taken to ensure maximumrecovery of diamond core. | |
| Whether a relationship exists between sample recoveryand grade and whether sample bias may have occurreddue to preferential loss/gain of fine/coarse material. | There is no discernible relationship between corerecovery and grade and recoveries were uniformlyvery high. | |
| Logging | Whether core and chip samples have been geologicallyand geotechnically logged to a level of detail to supportappropriate Mineral Resource estimation, miningstudies and metallurgical studies. | The diamond drill core is photographed and logged ina number of logging sheets including a geological log, astructural log and a geotechnical log, which isappropriate for mineral resource estimates and miningstudies, neither of which have been undertaken at thisstage. |
| Whether logging is qualitative or quantitative in nature.Core (or costean, channel, etc.) photography. | Most of the geological logging is a mixture of qualitative(descriptions of the various geological minerals andfeatures) and quantitative (numbers and angles ofveins etc). Photos are taken of all core (both wet anddry) which can be considered quantitative. | |
| The total length and percentage of the relevantintersections logged. | All core is initially logged in the various logging sheetsnoted above and intervals are marked out for sawingand sampling. Not all core has been sampled to date. | |
| Subsamplingtechniquesand samplepreparation | If core, whether cut or sawn and whether quarter, half orall core taken. | Sample lengths are one metre (or less to coincide withlithological breaks). All core from mineralised zonesand the immediate surrounding rocks was initiallysawn in half to provide a better surface for geologicallogging. Half core is collected for analysis and the otherhalf retained for reference and or metallurgicaltestwork. |
| If non-core, whether riffled, tube sampled, rotary split,etc. and whether sampled wet or dry. | All sampling reported is of diamond drill core. | |
| For all sample types, the nature, quality andappropriateness of the sample preparation technique. | All half core samples were bagged, labelled and sent toan ISO certified independent laboratory where samplesare dried, crushed and pulverised to 95% of the samplepassing a 75μm sieve. | |
| Quality control procedures adopted for all sub-samplingstages to maximise representivity of samples. | The drilling was reconnaissance in nature and no fieldduplicates or certified reference standards (CRM) weresubmitted. The laboratory which analysed the samplesconducted extensive check sampling as part of theirown internal QA processes which was reported in theassay sheets.For the 341 samples submitted Intertek conducted 21 | |
| Second Sample analyses (from second splits of thecoarse crushed sample prior to pulverising) and 37Repeat Sample analyses (a separate split and digest /Fire assay from the pulverised material) in addition to21 assays of their own blank material and 41 assays of |
| Criteria | Explanation | Commentary |
|---|---|---|
| CRMstandards.Theresultsindicateacceptable | ||
| accuracy and repeatability. | ||
| Measures taken to ensure that the sampling is | High drill core recoveries were achieved and no | |
| representative of the in situ material collected, includingfor instance results for field duplicate/second-halfsampling. | evidence of down hole contamination during drillingnoted. The half core samples can be consideredrepresentative of the insitu material. | |
| Whether sample sizes are appropriate to the grain sizeof the material being sampled. | The sample size (mostly 1 metre of half core) used issuitableinrespecttothegrainsizeofthemineralisation. | |
| Quality ofassay data& lab tests | The nature, quality and appropriateness of the assayingand laboratory procedures used and whether thetechnique is considered partial or total. | The assay techniques used for the assay resultsreported herein are international standard and can beconsidered total. Gold was analysed by 50 g fire assayand the other elements by AAS. |
| For geophysical tools, spectrometers, handheld XRFinstruments, etc., the parameters used in determiningthe analysis including instrument make and model,reading times, calibrations factors applied and theirderivation, etc. | No geophysical tools, spectrometers, hand held XRFinstruments etc were used for any analysis orobservation reported herein. | |
| Nature of quality control procedures adopted (e.g.standards, blanks, duplicates, external laboratorychecks) and whether acceptable levels of accuracy (i.e.lack of bias) and precision have been established. | The drilling was reconnaissance in nature and no fieldduplicates or certified reference standards (CRM) weresubmitted. The laboratory which analysed the samplesconducted their own extensive check sampling as partof their own internal QA processes which is reported inthe assay sheets. For the 341 samples submittedIntertek conducted 21 Second Sample analyses (fromsecond splits of the coarse crushed sample prior topulverising) and 37 Repeat Sample analyses ( aseparate split and digest / Fire assay from thepulverised material) in addition to 21 assays of theirown blank material and 41 assays of CRM standards.Theresultsindicateacceptableaccuracyand | |
| repeatability and are considered acceptable for theinitial phase of reconnaissance drilling. | ||
| Verificationofsamplingandassaying | The verification of significant intersections by eitherindependent or alternative company personnel. | The geochemical results reported herein and thecalculatedaveragesfordifferentintervalswereindependently checked and calculated by two companypersonnel. |
| The use of twinned holes. | The drilling program comprised nine drill holes, noneof which have been twinned. | |
| Documentation of primary data, data entry procedures,data verification, data storage (physical and electronic)protocols. | The diamond drill core is logged in significant detail ina number of separate excel template logging sheetsincluding: | |
| 1] a geological log of all core, recording mineralogy,lithology, alteration, degree of oxidation andmineralization; | ||
| 2] a structural log of all core, recording alpha and betaangles, structure types, vein types and infill;3] a geotechnical log of all core recording RQD, defects,fabrics; |
| Criteria | Explanation | Commentary |
|---|---|---|
| 4] a geochemical log of assay results. | ||
| The drilling results reported are from the first phase ofreconnaissance drilling and the data has not beenincorporated into a dedicated Project computerdatabase at this stage. All logging and assay data hasbeen validated and archived and is available for futurereference. Hard copies of all logging sheets are kept atboth the Project office in Bunawan town and the Davaoand Perth offices. | ||
| Remnant half core and the coarse rejects and samplepulps returned from the laboratory are kept in lockedstorage at the Company's core yard at Bunawan. | ||
| Discuss any adjustment to assay data. | Theresultsreportedhereinincludeaveragescalculatedfromseparatecontiguousonemetreintervals. No top or bottom cut of any assays has beenapplied. | |
| Location ofdata points | Accuracy and quality of surveys used to locate drill holes(collaranddown-holesurveys),trenches,mineworkings and other locations used in Mineral Resourceestimation. | Drill hole collars were sited with a hand held GPS withan accuracy of +/‐ 5 metres. No down hole orientationsurvey was conducted. |
| Specification of the grid system used. | Co‐ordinates are on a UTM Grid; WGS84 (52N). | |
| Quality and adequacy of topographic control. | The Bunawan area is moderately hilly. The collarelevation for the drill holes reported herein is based ona reading from a hand held GPS and is consistent withgovernment topographic maps. | |
| Dataspacinganddistribution | Data spacing for reporting of Exploration Results. | The drill hole assay results reported herein are fromreconnaissance holes drilled on separate discretetargets rather than a regular grid. |
| Whether the data spacing and distribution is sufficient toestablish the degree of geological and grade continuityappropriate for the Mineral Resource and Ore Reserveestimation procedure(s) and classifications applied. | The Bunawan Project is at an early stage and drill holesare at variable spacing aimed at testing discrete zonesof mineralisation. No estimates of grade continuity,resource or reserves are made. | |
| Whether sample compositing has been applied. | No compositing of intervals in the field has beenundertaken. | |
| Orientationof data inrelation togeologicalstructure | Whether the orientation of sampling achieves unbiasedsampling of possible structures and the extent to whichthis is known, considering the deposit type | The drill holes reported are the first holes drilled at theBunawan project, and while mapped surface structuresare generally ENE trending and most drill holesoriented perpendicular to this trend it cannot beassumed at this early stage of exploration that theintervals reported are true widths of mineralisation |
| If the relationship between the drilling orientation andthe orientation of key mineralised structures isconsidered to have introduced a sampling bias, thisshould be assessed and reported if material. | As noted above, most of the drilling was conductedperpendicular to the main structural trend indicated insurface geology but it cannot be assumed at this earlystage of exploration that the intervals reported are truewidths of mineralisation. | |
| Samplesecurity | The measures taken to ensure sample security. | Chain of custody was managed by the companyemployees. Core was placed in core trays by the drillingcrew and kept at site under constant watch by |
| Criteria | Explanation | Commentary |
|---|---|---|
| Company employees prior to being transported fromthe drill site by Company employees in a Companyvehicle to the core shed where core was logged andsawn core samples prepared for dispatch. | ||
| Samples were packed in boxes and sent directly fromthe core shed to the laboratory sample preparationfacility in General Santos town using a local transportcompany. Remaining core is kept in the Company coreyard which is in a secure compound at Bunawan whichis guarded at night. | ||
| Audits orreviews | The results of any audits or reviews of samplingtechniques and data. | The sampling techniques and QA/QC data werereviewedbyCompanymanagementandanindependent consultant. The writer of this report is anindependent consultant who has reviewed all samplehandling techniques and considers them to be ofindustry standard and appropriate for this stage ofexploration. |
Reporting of Exploration Results:
| Criteria | Explanation | Commentary |
|---|---|---|
| Mineraltenementand landtenurestatus | Type, reference name/number, location and ownershipincluding agreements or material issues with thirdparties such as joint ventures, partnerships, overridingroyalties,nativetitleinterests,historicalsites,wilderness or national park and environmental settings. | The Bunawan Project is covered by ExplorationPermit EP‐033‐XIII, Exploration Permit ApplicationEXPA 37‐XIII and Mineral Production SharingApplication APSA 03‐XIII. Drilling activity the subjectof this announcement is within EP 033‐XIII which wasgranted on 18 August 2014 for a period of two years,with the option to renew for an additional 6 years. |
| The National Commission on Indigenous Peoples(NCIP) issued a Compliance Certificate to Bunawan incompliance with the FPIC Process and that theIndigenous Community has given its consent to theProject. | ||
| The security of the tenure held at the time of reportingalong with any known impediments to obtaining alicence to operate in the area. | The tenure over the area currently being explored is agranted Exploration Permit which is consideredsecure. | |
| Explorationdone byother parties | Acknowledgment and appraisal of exploration by otherparties. | The only known previous exploration over theBunawan project area was conducted by Sierra MiningLimited prior to its merger with/ take over by RTG. Thisexploration included rock chip, stream sediment andsoil sampling as well as a ground magnetic survey andgeological mapping all of which was reported to theASX by Sierra Mining. |
| Geology | Deposittype,geologicalsettingandstyleofmineralisation. | MineralisationatBunawancanbedefinedas"intermediate sulphidation" or "carbonate‐base metal"type epithermal Au‐Ag mineralisation associated witha diatreme breccia complex. Mineralisation types in thearea include high grade Au in quartz‐carbonate veinshosted by wall rock andesite and dacite as well as lower |
| Criteria | Explanation | Commentary |
|---|---|---|
| grade disseminated Au in "silica‐matrix breccias"developed in the diatreme. | ||
| Drill holeInformation | A summary of all information material to theunderstanding of the exploration results including atabulation of the following information for all Materialdrill holes:easting and northing of the drill hole collarelevation or RL (Reduced Level – elevation above sealevel in metres) of the drill hole collardip and azimuth of the holedown hole length and interception depthhole length. | The information contained in this report pertains to theinitial results of the first phase of reconnaissancedrilling at Bunawan. The easting, northing, elevation,dip, azimuth and hole depth of all holes is reported in atable within the report. The depths of intersections aredocumented in the text. The location of the drill holeswith respect to the diatreme complex (as indicated byground magnetics) and artisanal workings are shownon a map in the report. |
| If the exclusion of this information is justified on thebasis that the information is not Material and thisexclusion does not detract from the understanding ofthe report, the Competent Person should clearlyexplain why this is the case. | Location and orientation of all drill holes is reported. | |
| Dataaggregationmethods | In reporting Exploration Results, weighting averagingtechniques,maximumand/orminimumgradetruncations (e.g. cutting of high grades) and cut-offgrades are usually Material and should be stated. | Theresultsreportedhereinincludeaveragescalculatedfromseparatecontiguousonemetreintervals. No top or bottom cut of any assays has beenapplied. |
| Where aggregate intercepts incorporate short lengthsof high grade results and longer lengths of low graderesults, the procedure used for such aggregationshould be stated and some typical examples of suchaggregations should be shown in detail. | Where shorter lengths of high grade core occurs withinwider zones of low grade the higher grades are notedas "including inyervals" in the table within the report. | |
| The assumptions used for any reporting of metalequivalent values should be clearly stated. | No metal equivalent grades are reported herein. | |
| Relationshipbetweenmineralisation widthsand | These relationships are particularly important in thereporting of Exploration Results. | Due to the preliminary nature of the exploration itcannot be assumed that the intervals reported are truewidths of mineralisation. |
| interceptlengths | If the geometry of the mineralisation with respect to thedrill hole angle is known, its nature should be reported.If it is not known and only the down hole lengths are | The drill holes reported are the first holes drilled at theBunawan project, and while mapped surface structuresare generally ENE trending and most drill holes were |
| reported, there should be a clear statement to thiseffect (e.g. 'down hole length, true width not known'). | oriented perpendicular to this trend it cannot beassumed at this early stage of exploration that theintervals reported are true widths of mineralisation. | |
| Diagrams | Appropriate maps and sections (with scales) andtabulations of intercepts should be included for anysignificant discovery being reported These shouldinclude, but not be limited to a plan view of drill holecollar locations and appropriate sectional views. | A map (plan view) showing position of the drill holesand ground magnetic data is included in the report. |
| Balancedreporting | Where comprehensive reporting of all ExplorationResults is not practicable, representative reporting ofboth low and high grades and/or widths should bepracticed to avoid misleading reporting of ExplorationResults. | The report documents the assay results from the first hole of thesecond phase of drilling. Low grade sample results from adjacentrocks outside the mineralised body are not included. |
| Othersubstantiveexplorationdata | 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 andmethod of treatment; metallurgical test results; bulkdensity,groundwater,geotechnicalandrockcharacteristics; potential deleterious or contaminatingsubstances. | AllmeaningfulexplorationdataconcerningtheBunawan Project has been reported either in previousreports to the ASX (by Sierra Mining Limited) or is inthe current report to which this appendix is attached. |
| Criteria | Explanation | Commentary |
|---|---|---|
| Furtherwork | The nature and scale of planned further work (eg testsfor lateral extensions or depth extensions or largescale step-out drilling).Diagrams clearly highlighting the areas of possibleextensions,includingthemaingeologicalinterpretations and future drilling areas, provided thisinformation is not commercially sensitive. | The attached report summarises the results of theinitial scout drilling program at Bunawan. The resultsare considered very encouraging and further drilling iswarranted but has not been planned in detail at thisstage. |