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RTG Mining Inc. Interim / Quarterly Report 2015
47130_rns_2015-04-30_c542fb74-0d08-401e-a28f-ed2d8eee38b8.pdf
Interim / Quarterly Report
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NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
MARCH 2015 QUARTERLY REPORT
ANNOUNCEMENT TO THE AUSTRALIAN SECURITIES EXCHANGE
30 APRIL 2015
HIGHLIGHTS
- Resource definition drilling at Mabilo continues to extend the South Mineralised Zone along strike and has identified a new high grade shallow zone of mineralization in a garnet skarn.
- Highlights of intercepts at Mabilo for the quarter
| Hole ID | Intercept width | Grade (g/t Au & % Cu) | Downhole Depth From |
|---|---|---|---|
| MDH-090 | 11.70m | 2.79 g/t Au, 1.48 % Cu | 307.3m |
| MDH-094 | 6.00m | 2.54 g/t Au, 1.04 % Cu | 175.0m |
| MDH-094 | 43.20m | 1.09 g/t Au, 1.01 % Cu | 242.0m |
| MDH-095 | 25.80m | 1.63 g/t Au 2.32 % Cu | 111.0m |
| MDH-095 | 26.60m | 1.62 g/t Au 1.99 % Cu | 194.0m |
| MDH-096 | 35.00m | 1.29 g/t Au 1.86 % Cu | 156.0m |
Highlights of Bunawan drilling announced
| Hole ID | Intercept width | Grade (g/t Au & g/t Ag) | Downhole Depth From |
|---|---|---|---|
| BDH-01 | 23.00m | 1.23 g/t Au, 8.56 g/t Ag | 163.0m |
| including | 12.00m | 1.63 g/t Au, 9.85 g/t Ag | 163.0m |
| BDH-06 | 36.00m | 1.49 g/t Au, 8.29 g/t Ag | 111.0m |
| including | 7.000m | 4.18 g/t Au 14.05 g/t Ag | 113.0m |
| BDH-08 | 10.00m | 5.09 g/t Au 3.80 g/t Ag | 229.0m |
| including | 4.00m | 12.33 g/t Au 6.42 g/t Ag | 235.0m |
| including | 0.35m | 126.70 g/t Au 46.30 g/t Ag | 238.0m |
- Phase 1 scoping metallurgical test work results announced showing high recoveries of 96% Cu and 85% Au with concentrate grades up to 33% Cu and 20 g/t Au.
- Phase 2 Definitive Feasibility Study metallurgical work awarded to Lycopodium Limited.
- Knight Piesold Pty Ltd was awarded study work associated with water balance and management, TSF options, seismic and geotechnical design considerations for the Definitive Feasibility Study.
- Successful A$15M capital raising at a premium to then market price.
- Cash and liquid assets as at 31 March of US$11M with a further US$2.85M from the issue of Tranche 2 of the placement received on 16 April 2015.
MABILO PROJECT
Overview of the Quarter
During the March Quarter for the Mabilo Project, exploration activity concentrated on infill drilling the South Mineralised Zone with the aim of converting Inferred Resources to Indicated Resources. Drilling focused on Fault Block 3 and extensions to the Southeast. Excellent intercepts were recorded in both areas, including a broad high grade shallow intercept of garnet skarn on the Southeast corner of the previously defined zone. The discovery of high grade garnet skarn at shallow levels represents a new target for follow up drilling and modelling. The mineralisation remains open down dip and along strike in both directions, with all mineralisation found to date being shallow enough to be amenable to open pit mining techniques.
The strong results of the Phase 1 scoping metallurgical test work resulted in the decision to immediately start Phase 2 and Lycodpodium was awarded the contract.
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 one Exploration Permit Application (EXPA-000188-V) of 2,820 ha. The Project area is relatively flat and is easily accessed by 15 km of allweather 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 calcsilicate 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 Exploration Permit.
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 high-grade 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 released on the 24th November 2014). Drilling is ongoing and ninety diamond drill holes have been completed at the end of the Quarter with further drilling ongoing.
South Body
Drilling focused on the South Mineralised Zone, aiming to improve the resource classification. Drilling was designed to delineate the plunge extent of mineralization as well as stepping out towards the south east of the system where significant garnet skarn was intersected. The drilling was also designed to confirm continuation of magnetite.
Figure 2. Magnetic model and isotropic copper grade shell model, highlights from infill drilling (yellow)
Drilling of holes MDH-097 and MDH-098 in Fault Block 3 defined the down plunge extent of the system. MDH-90 and infill drill hole MDH-93 returned mineralized magnetite skarn. A full list of drilling and drill holes awaiting assays during the quarter is reported in Appendix 1.
Figure 3. RTP ground magnetic image with completed drill holes and ongoing drilling. Drilling during the March Quarter (green), on-going drilling (red) and previously reported drilling (black)
| Hole ID | From | To | Intercept(m) | Aug/t | Cu% | Agg/t | Fe % | Mineralisation | Recovery(%) |
|---|---|---|---|---|---|---|---|---|---|
| MDH-93 | 276.90 | 287.80 | 10.90 | 0.71 | 1.84 | 41.62 | 46.26 | Magnetite Skarn | 66% |
| MDH-93 | 298.00 | 309.00 | 11.00 | 1.06 | 1.07 | 8.42 | 32.75 | Magnetite skarn& garnet skarn | 89% |
| MDH-90 | 307.30 | 319.00 | 11.70 | 2.79 | 1.48 | 25.2 | 36.27 | Magnetite Skarn | 307.30 |
Table 1. Intercepts returned from resource infill drilling of magnetite skarn down dip
True width intervals reported in MDH-93 are estimated through modelling to be 13m wide respectively.
Figure 2. MDH090 Magnetite Skarn Interval, with previously reported MDH057 and MDH060 (RTG ASX release 30th June 2014 & 13th August 2014 respectively).
Drilling also targeted the Southeast continuation of strike, with two initial drill holes MDH-94 and MDH-95. These were immediately followed by MDH-096. Significant mineralized garnet skarn and magnetite skarn was intersected with garnet skarn mineralization demonstrated to be continuous down dip and up plunge to MDH-96. The garnet skarn intercept is shallow and represents a new exploration target for follow-up drilling.
Figure 3. Assay Results MDH-94,MDH-95 and MDH-96
| Table 2. Significant intercepts MDH-94, MDH-95 & MDH-96 | |||
|---|---|---|---|
| Hole ID | From | To | Intercept(m) | Aug/t | Cu% | Agppm | Fe % | Mineralisation | Recovery% |
|---|---|---|---|---|---|---|---|---|---|
| MDH-94 | 242.00 | 285.20 | 43.20 | 1.09 | 1.01 | 35.56 | 20.90 | Magnetite Skarn | 93.24 |
| MDH-95 | 111.00 | 136.80 | 25.80 | 1.63 | 2.32 | 4.0 | 9.70 | Garnet Skarn | 100.00 |
| MDH-95 | 194.00 | 219.60 | 25.60 | 1.62 | 1.99 | 15.2 | 42.81 | Magnetite Skarn | 100.00 |
| MDH-96 | 156.00 | 191.00 | 35.00 | 1.86 | 1.29 | 3.6 | 40.30 | Magnetite Skarn | 88.57 |
True widths have been determined by modelling and are as follows: MDH-94 magnetite skarn approximately 22m, MDH-95 garnet skarn 23m with magnetite skarn 25m, MDH-96 magnetite skarn 23m.
Metallurgical Test Work
Lycopodium Minerals Pty Ltd completed a Phase I (scoping level) metallurgical test work program with analysis undertaken at ALS Metallurgy in Perth, Australia. The program covered the oxide and primary domains with excellent results.
The primary skarn material composite showed excellent floatability with a standard reagent suite at a P80 grind size of 106µm. Key results from the primary test work include:
- Concentrate grades up to 33% Cu and 20g/t Au;
- Copper recovery up to 96%;
- Overall gold recovery of up to 85% to concentrate and float tail leach; and
- Ball Mill Work Index of 14 kWh/t.
Test work on the "Gold Cap" oxide material showed gold recoveries up to 90% with cyanide consumption of 3.5kg/t and lime consumption of 1 kg/t.
Lycopodium Minerals Pty Ltd, was awarded the Phase 2 Definitive Feasibility Study metallurgical work. The work will include variability testing, reagent optimization, grind size optimization and thickening/filtration testing.
The Phase 2 program will take 16 weeks and the results will allow direct progress to project implementation.
Feasibility Study
Work continued on the Definitive Feasibility Study during the quarter. Along with the metallurgical test work, work was conducted on environmental studies and infrastructure studies.
Knight Piesold Pty Ltd was awarded study work associated with water balance and management, TSF options, seismic and geotechnical design considerations for the Definitive Feasibility Study.
The Study remains on track for completion in the third quarter of the 2015 calendar year.
BUNAWAN PROJECT
Overview of the Quarter
Following the successful reconnaissance drilling program last quarter, work continued on ground mapping and preparation for geophysic programs in the Mahunoc region. Assaying of additional drill samples was also conducted to better define the mineralized zones.
Geological mapping and a sampling program inside the tenement at Bayabas was recommenced during the quarter. Gold was found in pan concentrates obtained from abandoned artisanal ore stockpile.
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 1*- Location plan with regional geology showing both the Co-O and Mahunoc diatreme complexes*
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 mineralisation.
Mahunoc Drilling
The reconnaissance drilling program (nine holes for 3,074 metres) was targeted at coincident Au in soil and magnetic anomalies as well as areas of artisanal workings. The drilling has confirmed that the mineralised corridor on the southern margin of the diatreme (marked by extensive shallow artisanal workings in the diatreme and a coincident district scale structural zone) is a highly prospective target zone.
The three most significant drill intercepts are in BDH-01, 06 and 08,
within and adjacent to the corridor. The disseminated Au in silica-matrix breccias within the diatreme seen in artisanal workings and drilling (BDH-01) are interpreted to have been introduced into porous clast-rich zones within the diatreme from structurally controlled epithermal vein zones in the andesite below the diatreme apron such as that intersected in BDH-08.
The grade of the high grade quartz-calcite vein zone in BDH-08 is strongly influenced by a narrow interval grading 0.35 m at 126.71 g/t Au, 46.3 g/t Ag, 0.99% Zn and 0.96 % Pb. A repeat sample of the interval graded 125.87 g/t Au which in conjunction with the high Ag, Zn and Pb values indicates the intersection is not a coarse or spotty gold effect but a very high grade Au in quartz-calcite vein in the country rock andesite similar to those mined at the Co-O mine to the south of Mahunoc.
| Hole | From | To | Metres | Au g/t | Ag g/t | Host Lithology |
|---|---|---|---|---|---|---|
| BDH-01 | 163 | 186 | 23 | 1.23 | 8.56 | diatreme |
| including | 163 | 175 | 12 | 1.63 | 9.85 | diatreme |
| BDH-06 | 111 | 147 | 36 | 1.49 | 8.29 | diatreme/andesite |
| including | 113 | 120 | 7 | 4.18 | 14.05 | diatreme |
| BDH-08 | 229 | 239 | 10 | 5.09 | 3.8 | andesite |
| including | 235 | 239 | 4 | 12.33 | 6.42 | andesite |
| including | 238 | 238.35 | 0.35 | 126.7 | 46.3 | andesite |
Table 3. Significant Bunawan intercepts
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 –
- Geological mapping and sampling at Kawayan-Tagkan-Ebo Copper areas in Cogonon;
- Semi-detailed mapping in New Visayas area that includes Makalibobo, Tali, and Tondan creeks;
- Infill geochemical drainage sampling at Cogonon area;
- Prepared updated maps of various content;
- 11 drainage samples to be sent for assay; and
- 38 rock chip samples to be sent for assay.
CORPORATE
As at 31 March 2015, RTG had cash and liquid assets of US$11M (December quarter: US$5.73M).
The Company announced an A$15 million private placement ("Placement") on 6 February 2015. During the quarter the Company 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 on 10 April 2015 with the receipt of A$3.7M in Tranche 2 funds and issue of additional shares on 16 April.
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 2013 and the Scheme Booklet dated 10 April 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 | Locatio | GPS | Orientation True | Depth | ||||
|---|---|---|---|---|---|---|---|---|
| ID | n | Coordinates (UTM WGS84) | Nth | |||||
| Prospect | East | North | RL | Dip | Azi | E.O.H(m) | ||
| MDH-90 | South B | Resource | 476079 | 1559581 | 127 | -60 | 50 | 344.80 |
| MDH-91 | South B | Resource | 476050 | 1559632 | 118 | -60 | 50 | 305.05 |
| MDH92* | South A | Resource | 476083 | 1559934 | 109 | -50 | 50 | 81.60 |
| MDH-93 | South B | Resource | 475992 | 1559713 | 119 | -60 | 50 | 350.50 |
| MDH-94 | South B | Resource | 476136 | 1559577 | 122 | -60 | 50 | 295.00 |
| MDH-95 | South B | Resource | 476167 | 1559603 | 119 | -50 | 50 | 251.20 |
| MDH-96 | South B | Resource | 476225 | 1559660 | 131 | -62 | 50 | 209.10 |
| MDH97* | South B | Resource | 476042 | 1559664 | 117 | 60 | 50 | 338.50 |
| MDH98* | South B | Resource | 475952 | 1559748 | 121 | -60 | 50 | 349.60 |
| MDH-99 | South B | Resource | 476235 | 1559603 | 135 | -63 | 50 | 325.20 |
| MDH100** | South B | Resource | 476173 | 1559563 | 120 | -65 | 53 | 170.70 |
| MDH101 | South B | Resource | 475992 | 1559764 | 119 | -60 | 50 | On-going |
Appendix 1: Location of Reported Mabilo Drill Holes
* 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: Location of Reported Bunawan Drill Holes
| Hole | Easting | Northing | Elevation | Azimuth | Dip | Depth | Samples |
|---|---|---|---|---|---|---|---|
| BDH-01 | 178025 | 917003 | 339 | 160 | -55 | 389.1 | 98 |
| BDH-02 | 178025 | 917008 | 339 | 215 | -55 | 545.1 | 91 |
| BDH-03 | 178025 | 917008 | 339 | - | -90 | 305.1 | 28 |
| BDH-04 | 178025 | 917008 | 339 | 360 | -55 | 356.1 | 15 |
| BDH-05 | 178125 | 916943 | 359 | 160 | -80 | 317.0 | - |
| BDH-06 | 177984 | 916790 | 340 | 160 | -60 | 265.8 | 89 |
| BDH-07 | 178690 | 917322 | 340 | 110 | -55 | 237.6 | - |
| BDH-08 | 177850 | 916445 | 304 | 340 | -45 | 317.1 | 14 |
| BDH-09 | 178567 | 916689 | 400 | 180 | -70 | 341.0 | - |
| 3,073.9 | 335 |
Drill Hole co-ordinates (WGS84, 52 N) and orientation.
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") 002-V | Philippines | RTG's interest is held through itsinterest in its associate entity, MtLabo Exploration and DevelopmentCorporation. | 40% | 40% |
| MLC MRD 459 | Philippines | 40% | 40% | |
| ExplorationPermit("EP")014-2013-V | Philippines | 40% | 40% | |
| EXPA-0000209-V | Philippines | - | 40% | |
| EXPA-000188-V | Philippines | 40% | 40% | |
| ExplorationPermitApplication("EXPA") 118-XI | Philippines | RTG's interest is held through itsinterestinitsassociateentityBunawan Mining Corporation. | 40% | 40% |
| APSA-03-XIII | Philippines | 40% | 40% | |
| EXPA-037A-XIII | Philippines | 40% | 40% | |
| EP 033-XIII | Philippines | 40% | 40% | |
| EP-01-06-XI | Philippines | 40% | 40% | |
| EP-01-10XI | Philippines | RTG's interest is held through itsinterest in its associate entity OzMetals Exploration & DevelopmentCorporation. | ||
| EP-02-10-XI | Philippines | 40% | 40% | |
| EXPA-123-XI | Philippines | 40% | 40% |
Section 1 Sampling Techniques and Data
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|---|---|---|
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| Includeferkeletotatoreencemeasuresnensuresampividheialibrionf attyttetrepresenanapproprcaaonylsd.ttootemmeasuremenorsyss useAsfhedeinaionf minelisaionhatsttertttt apecomorareMaialhePublicRetertott.por | Thelenthf ehdrill risdeddthefohlculatedgoacunrecoranrecoveryr eacruncaonCeffeitedhekedintthehed.tiiedtadadsdblanksanccagaacoresrrerencesnranlesbmidhedisionfheldttetotttssampweresuassessaccuracyanprecoresuan20thleintotwdthetwtelesbmittedeverysampwassawnoanoquarr coresampsufolyislydulicale.teter anasseparaasapsampf cfoSO-fHallest adtlyisbyindedetItiiedoresampwerecunsenr anasanpenncerlabo(InkMcPhaLabo)inMaila.Salesheddtotetetoraryrrrarynmperecrusanw(%).Goflveised9575ldlydby50iredthethe<purμmwasanasegassayanorlemincludingdirobyICP-MS(InduivelyColedPlasMatsteencopperanncupmassSptrotry)ICP-OES(IndutivelyColedPlasOpticalEmissionecmeorcupmaSp)followingfoiddigtrotryt.ecmeaur-aces | |
| Drillinhniqtegcues | Drill(irclaion-hletytpee.g. core,reversecuopeno,)hairblasBakaic,tart,tcmmerroyaaugerngsone,,,ddeils(diamipledadbetatertrtantuanegcoreeorsr,,dehfdiamdils,faclingbihettat ottypoone-sampr orpe,heheisiend adif sbyhahod,ttet mtwr coreorno,we).tce | DrillingbyPQ,HQdNQdiamiplebediamdingThetetrtuwasaner,oncorcorewasiend.t otatenor |
| Drilllesamprecovery | Mhod of rdingd aingd chipteecoranssesscore anleiesd rld.tssamprecoveranesassesseu | Coisinitiallyditebytrainedtehniciandbythererecoverymeasureonscsanisinglogist.Anlosisd,thetaislculatedsupervgeoycoresmeasurepercengecadbothdedinthetehnicallogfofeheinganarerecorgeocr rerencewnassessltsassaresuy |
| Mkeimiseledtatoeasuresnmaxsamprecoveryanfivehelestatturtensurerepresennae osamp | All ciskeimfdiamdddrillertatoarenensuremaumrecoveryooncoreans arexfoff cf pindtheimtaAnrmeopornceoorerecoveryyareas ooor corerecoveryledtelythultsbediretlylatedtoaresampseparasassayresucancrecore |
| Criiater | CCoioJORdelantexpan | Cotammenry |
|---|---|---|
| recoveryThejifheinelisaionisinfrehk wheiestytttemaoromrasrocrerecoveraregreartha90%MotinelisationinideintetionfivensmraoccurswrsecsomassikaihlaivelyifodlddeColosttettmagnesrnreunrmcopperangogras.reswinfratubutisllyt aigificat pblemi.etheoccurscrezonesusuanosnnrocorefraflostintuislikelytohabeigiicatlyhighelowcrezonesunveensnnr orerdehahedingial.Inhehedheiicidisedtttettttgransurrounmarwearemaoxlosisidable,but oll rislly90%>zonessomecoresunavoveraecoverygeneradhelosislumicallyinoinheinelisedInfttrtancoresvoemrmrazones.areas otheleintelsdtoincideithdrill rpoor recovery,samprvaarearrangecowuns,fffefthudit clostaiictoindividul sless areasorenorespercengearespecaamphichbedheintetinglytical rltsddelledinwcanassessewnrpreanaesuanmofuf%tutimtiontudiesWhe100losisreresourceesasreanareaocoresideifiedheleinlskedhidefhedhetttetottnsamprvaaremareacsozoneanisdeigted"N"digdlueintheioulogzonesnaocoreanassnezerovavarshed gheicaldabatstaseaneocmse | ||
| Whehelaionhipisbeletttstwr aresexeen sampd gdedhehelebiastrecoveryanraanwr sampmayhadduferiallos/ginftotveoccurreepreensao/cfineial.teroarsema | TheisdisciblelaionhipbeddeThettwrenoernreseencorerecoveryangrakabodieslaivelyifoigificalenhsdhedttttsrnarereunrmover snngancopperanfralddet rlatedtolaydtuhichtheingograsarenoecancrezoneswaremaf closcausesoores. | |
| Loinggg | Whehed chipleshabelogicallytr core ansampveengeod ghnicallylogdlevl ofdeiltectotatotaneogeaesupporiaMinelReimioniningdiestetttuapproprrasourceesams,d mllurical sdiestatuaneg | Diamddrill cfohtiredrillholelogdinigificatdetailinonorer eacenwasgesnnabeflogingheincludinglogicalloglloghnicaltstrututenumr ogseageoascraageoc,,logdtictibilitylogfothetiredrillhole.Mineliseddanamagnesusceprenraanledinlslogdindividullyiniiveinellogihtetettattsamprvaaregeaaseparaquanmrawtafthediffetinelsbeingded.Thelogingispercengesorencoppermrarecorgiafoinel reimdiningdiestettestuapproprr mrasourceesaanms |
| Whehelogingisliiveiiveinttatttatturrgquaor quannae.Co()hal,hohyteatc.togreorcosn,cnneeprap | Mot ofthelogicallogingisixtuf qlitative(deiptionftheiousgeogamreouascrs ovarslogicalfe)diive(bedlesf vinsdfratuttattugeoaresanquannumrsanangoeancreineltatc).Thetitativeinelisationlogdthezones,mrapercengesequanmraanf a(tictibilitylogtitativePhotohstakell cbothmagnesusceparequangraparenooret addr)iortothebeingt.wenyprcorecu | |
| Thellenh ad pfhelevtotattagttgnercene oreaninionlogd.tertsecsge | All cincludingbabudeislogdinheiouloginghedttsteore,rrenoverrngearsgsenov |
| Criiater | J | ORCCodelaniotexpan | Com | tamenry |
|---|---|---|---|---|
| bofroheiiveinelisaionloginhichlyheinelisedttttatttaveaparmquanmrawonmraintelstfoheical alyislogdintedetail.rvasenr geocmnasaregegrear | ||||
| Sub-linsampghniqtecuesanlesampiotpreparan | d | If chehedhehehalf ott otterore,wr cur sawn anwr quarr,ll cketaaoren. | | All slingdataisfrodiamddrill cSalesf shalf ctampmonore.mpareoawnoreexcepfodulicaleshichHalf cisbaddtetettorpsamparequarr core.oreggeansenanwISO-tifiedindedetlabotofolyis.Thethehalftainedfocerpennraryranasorrerfed/ofuhek.ttetwrerence anrrrsor |
| | If nheheiffled,beled,littutart,on-corewr rsamproyspe,dheheleddrytt oanr sampwerw | tc | Not alicablefodiamd cdrillingppronore | |
| | Foll slehelidtytturtyr aamppesnae,quaan,fiaheleionhniqtentttecappropress osamppreparaue | | All clesdried,hedto95%10d1.5kgb-leis<oresampwerecrusmmanasusampff%tedingilelittedlveisedto9575A50b-le<separausarspr anpurμmgsusampistilisedfirehafoldlyis.Theletionuasa-assaycrgergoanassamppreparafotehniqd sb-lingisiatetheinelisationcueanusampapproprrmra | |
| | Qulil pdudodforll sb-lingtytroteaconroceres apasampuimiseivif slestagtottysesmaxrepresenoamp | | Blanklesddulicatelesbmittedtinelytoitothesampanpsamparesuroumonrflingd alytical pdtothat slestativeinsampannarocessanensureamparerepresenoituteial.Onin20lesfhalf cisintodutwsmareeverysampooresawnagaproceotedulicateleshichbmittedtothelabototelyquarr corepsampwaresuraryseparaithdiffet slebeAblank sleinstedintolebatchetwrenampnumrsampwasersamps ath s20le.everyamp | |
| | Mkehahelingistatottteasuresnensuresampivefheiniial cllecd,includingtatttuterterepresenosmao/sforinslforfielddulicad-halftantsteceresupeconlingsamp | | Theikainelisaioninivef mikattettettemagnesrnmraoccursexnszonesoagnesrnf aithdissinatedhalcoitetainingld.Theleizeimtelywemcpyrcongosampsopproxa,1 mlenhisibleinheinizefheinelisaionttattotttcoregsurespecgrasomra | |
| | Wheheleizeiaheinizettetotr sampss areapproprgrasfheialbeingled.tteromasamp | | Theleizeisidediafoheial sled.Iisbelievdtettetsampsconsreapproprrmarampethat ginizehabeingthedeftheledteial.rass noarongraosampmar | |
| Quifltyaoassadataanlabototetsrarys | yd | Thelid aiafheturtytentnae,quaanppropress oingdlabodud adhehetortassayanrayproceres usenwrhehniqisided pial ol.ttecttotaueconsrearr | | All cleslydISO-ifiedindedelaboGoldt atttooresampwereanaseancerpennrarylydby50firedthethelemtsincludingdirowasanasegassayanor eencopperannlydbyICP-MSICP-OESfollowingfoiddigThelet.wereanaseorauracessamptiondtehniqfintetionlindutrytadaddbepreparaanassaycues areornaassnrancanidedl.totaconsre |
| | Fohyicalls,hadheldXRFtootroterr geopsspecmes,ninshedindeiningtruts,tc,ttertermeneparames usemhelyisincludinginsked mdel,ttrut manasmenaanofacdingimlibrionlied adheirtttortreaescaass appn, | | Nohyicaltolsdfolyistedhein.Maticgeopsowereuseranyanasreporregneibilidingdinicdellingbudimttytt at utottesuscepreasareusemagnemorenoseesatiteFetet.magneorconn |
| Criiater | J | CCoioORdelantexpan | Co | tammenry |
|---|---|---|---|---|
| deivaionttc.re, | ||||
| | Naf qlil pdudod(turtytrotee ouaconroceres ape.gdadsblanksdulicallabotantestertorsrpexnaray,,,heks)dheheblelevlsf a(iettaccanwr accepeoccuracyf)lack obiasd pisionhabeblished.taanrecveenes | | Qulitytrol cletedbyRTGincludedlyisftadadsblanksdaconompanasosnran,,CoCeffedulicateialtiiedReMateialsinstedintoleps.mmercrrencerwereersampththbatche40le.Ablankleinsted20le;theseverysampsampwasereverysampblank sleialhabedddfrolocl qOninteampmarsensourceanpreparemaauarrye20lesistinto2teleshichbmittedeverycoresampcuquarr coresampwweresuindedelyihheirlebeInddiionInk cdudheirtttttetetetpennownsampnumrsaroncw,teivehek slingt oftheirintelQAQChichownexnsccampasparownrnaprocesseswisdinheheAdf rlfrolldulicablanksdtettststereporassayserecoroesmaps,anutadadsisintainedfoingQA/QCt.Exinationf allthesnrmar ongoassessmenamoQQCfafoffAledataindicatetistoieldlingtolssampssacryperrmanceosampprocodthelabotoanassayrary | |
| Veificaiotrnolinsampganinassagy | fd | Theificaionf sigificainionbyihettterttveronnsecserindedelivel.t otertpennr anacompanypersonne | | Sigificatinelisationintetionifiedbyltetivennmrarsecswereverarnacompanyl.personne |
| | Thefinndholestwuseoe | | Notwinndholeshabedrilled.eveen | |
| | Doionf pimdadadutatta,tatrycumenoraryenproceres,daificaionda(hyical ad elecic)tattatortroversagepsnn,ls.tocproo | | Dadoionificaiondisdudindaihtatatttotetcumenveransrageconcaccorncew,OpRTG'sStadadtingPrduMalfotheMabiloPrjt.Thediamdnreraoceresnuaroecondrill cisllylogdinigificadeilinbef sExlttateoremanuagesnnanumr oeparacetelateloginghetsLoingisdedllyloginghetsdmpgseggrecormanuaongseanibedindExl sdsheladdirelyinhetratotetettetetettotnscrproccepreaempsorenrecExltelateThedatalidatedbyboththePrjtGelogist adthecemps.arevaoeconDabaMadloadedhededicadjdabahetatottettacompansenageranupproecsereywthedithltsteddigitallybythelabotoHadiesyaremergewassayresureporraryrcopf allloginghekehePrjfficeinDatst attt ot.ogsearepoece | |
| | Discdjdatmttota.uss anyausenassay | | Nodjtmtshabedetodataausenveenmaassay | |
| fLoiodatcanointspo | ta | Acd qlif sdlocdrilltytotecuracyanuaourves useayholes(llarddo-hle),heinetrecoanwnosurveysncs,mkingd ohelociondinMinelRettwors anras userasourceimionttesa | | Drill-holellariniiallydihhad-heldGPSihftttcosaresurveeananaccuracoywwyimtely/-5Coletedholesdbyindedet qlified+approxammparesurveyeanpennuaiodicbaisingdaddiffeialGPS(DGPS)iptattsurveoronapersussnrreneqmenyuhievingb-deimtreinhoizotal ad vtical pitionacsuceaccuracyrnneros |
| | Spffiicaionheid sd.tttemecogrsseyu | | Drill cllardinUTMWGS84Zo1Nid.5os aresurveenegry |
| Criiater | J | ORCCodelaniotexpan | Co | tammenry |
|---|---|---|---|---|
| | Qulid adefhicl.tytoptroaanquacyoograpcon | | TheMabilojt aislativelyflat withtotal viationintohylesthaproecrearearpograpsn1TohiclisidedbyDGPSing5trompograpconprovsurvey | |
| Daindtaspacgandisibuiotrtn | | forfDaingingExlorionReltattts.spacreporopasu | | Drillholeslandinal gidih20bedrillholes40ttwarepneonanomrmeenonmwdlinespaces. |
| | ffWhehehedaingddisibuionisicientttatrttrspacansublishhedef glogical ad gdetotatesgree oeonrainuiiaforheMinelRedttytetconapproprrasourceanOrReimiondu()dtteserve esaproceresanlasificaionlied.tcss app | | fThedrillholeingdeigdtodeteinethetinuitydtet othespacwassnermconanexninelisedkaBadtatistical at ofdrill reltstodatethemrasrnzones.seonsssessmensu,ffinal4020drillholeingisicienttotMinelRenomxmspacsusupporrasourcetimtionesa | |
| | Wheheleiinghabelied.ttr sampcompossenapp | | Noiingfinlsinhefield wdekettettacomposorvaasunrn. | |
| Orienioftatdatanoinlaiottorenloicalgeogtrutuscre | | Wheheheienionf slinghievbiasdtttatroroampacesunelingf pibledhehichtruturttenttosampoossscesanexwhisisknideinghedeittttyown,consrpospe. | | Nobiasibubleienionflingdingflhabettrtatotattsaorosampupgraoresusenidetified.n |
| | Ifhelaionhipbehedrillingieniondtttwttatreseenoranheienionfkeinelised sisttattruturoromracesyidedhaindud alingbiashistotrotconsrevecesamp,holdbed ad rdif mial.tetersassesseneporau | | ffNobiasttributabletoientationlingdingltshabeaorosamppgraoresusenuidetified.n | |
| Saleitympsecur | | Thekeleitatoty.measuresnensuresampsecur | | Chainf cdyisdbyRTGloySalesdintotoousmanageempees.mperesresecurewtofrothetimfdrillingthrhtheingdlittingReiningissragemeoouggaranspmacore,keindheCoionl officeinDadtttttowpasecurecompounampanregaenanydedt night.SalestdiretlyfrothehedtothelabotoguaramparesencmcoresraryCokedinddledlasticdringithehiclespacsecureanseapumsusermpanyveor alocltrat cAtadadChainfCutodyfoisigdbythedriveansporompany.snrosrmsnerfof sibletratingthelesipt olestthedresponsrnsporsampponreceampacorearuydisigdbyloyfthelabotoipt ofthelesttheansneanempeeoraryonrecesampaCofoCofoflabotoletedtudtotheilingrarymprms arerernempanry |
| Audiietsorrevws | | Thelf adiiewf slingtstsresuonyauorrevs oamphniqddatecta.ues an | | Q/QCThelingtehniqdAdataiewdingbaisbysampcuesanarereveonanongosCot adindedet cltatsmpanymanagemennpennonsun |
Section 2 Reporting of Exploration Results
| Criiater | JORCCodelaniotexpan | Cotammenry |
|---|---|---|
| Minlteteranemendlandteannuretatuss | Tyfer/nbelociond ohiptpe,reencenameumr,aanwnersincludingialissihhird pieststertttagreemenormaues warh ajinhipidingliest vturtnetsucsoenesparrss,overrroay,,iveileinhisical siildetttterts,tortesnaeswrness or,ionl pk ad eirol singttattnaaarnnvnmenes. | TheMabiloPrjisdbyExlorionPeiEP-014-2013-VdtttoeccovereparmanExlortionPeitAplicationEXPA-000188-V.EP-014-2013-VissdtoparmpwasueMLaboExloriondDelopCoion("MLabo"),iadttttttepaanvemenrporaanassoctityfRTGMiningIncTheis1%ltyblet miningenorearoyapayaonnerevenueivedbyMLaboinlaionEP-014-2013-V.tttorecereGaMtLabohatedintojint vtut withleoEqipt ads enreaoenreagreemenumennMiningCoInc("Gleo")inloringddelopinghetotntmpany,aparerexpanveMabilodNalesbitaPrjtsGaleoto36%intetintheannoeccanearnuparesPrjdo200belowfabyibuingimlytstotrtteoecwnmsurceconapproxa,,$US4,250,000f elortiondrillingdt sicefothePrjtsoxpaanmanagemenervsroec2 yiod.overaear perInNobe2013,SierMiningLimited("Sier"),hollydbsidiarvemrraraawownesuyfG,Gaf("MO")RTdleoigdMeduUndetadingUttingoansneamoranmorsnsedhahejinhedehlimit ptott vtuttotttouroposecngesoenreagreemenremovepf200frothet adidefodditionldrillingf5,000ommagreemennprovr aaombelow200TheMOUlsoidefoGaleobedi36%intotetstetmaprovsrgranresfrot withthebilityfoRTGtolaw-bk aintetdedt edtupnarcacnyresemenoarneafthedthelaw-bkiod.ThedmtstotheJVAgt aenocacperamenenreemenrebjttoSierhaholdel.suecrasrer approvaSOGaGaierhalsoteddMUithleohebyleoras aenreaseconwwrecanearn anddiionl6%ininhejinbyiningheiniial1.Mf wttettt vtutt5t otetaaresoenremasaMabiloNalesbitadtheiretsincludingistaithornanorrequmenassncewiingTheMOUisbjbef cdiiondeincludingttttott,permsuecanumr oonsprecenSierhaholdel.rasrer approva |
| Theifheheld aheimf ringtyttenttttsecurouree oeporlonih aknimdimbininglicettstotaagnyownpeenoansewinhetotetoperaarea. | ThetethetlybeinglordtMabiloistednureoverareacurrenexpeaagranExlorionPeihichisidedTheisiveiletttttparmconsresecurerenonaorwIndigtraldoinslaimtMabilo.enous ancesmacs a | |
| Exloiodobytpranneheiesttor par | Acknledgd aisal of elorionbyhet attowmennppraxpaoriestpar | Thelyigificat pioulortiontheMabilojt aonsnnrevsexpaoverproecreawasadrillingt atheiteithinthetet addticprogramanor snemennagrounmagnewRTG(itsdeSier)hatedthisdatainiousurvey.orprecessorrasreporprevsSfotstotheAXddthedticbaisinitialreporanusegrounmagnesurveasasrydrill sitingSubstlyRTGduteditsdticithequenconcowngrounmagnesurveywlosdlineddingintelshichdethecerspacesurveysanrearvawsuperseshistoical pTheknioulortionintheftherrogramrewasnoownprevs expaareao |
| Criiater | JORCCodelaniotexpan | Cotammenry |
|---|---|---|
| tedMinelRereporrasource | ||
| Geloogy | Deilogical singd slefttytttypospe,geoeanoinelisaiontmra | fMinelisationtMabilobedeined atiteld skahichraacans amagne-copper-gornwdelopd wheheildinelisaionlacdlcatttetveeremagne-copper-gomrarepecareoushoizointheEoTubaFotioninthetat zfrnsceneagemgarmaconconeoaMiocdioriiniontetruenes |
| DrillholeInfoiotrman | Af allinforionialhettertotsummaromamaydedingfhelorionlincludingtantttsunrsoexparesuabulaionfhefollowinginforionforllMaialdrilltatttteromaaholes:fingd nhinghedrillholellarttteasanorocoolevionRL(RedudLel –levionbotteaorceveeaaveseao)flevlinhedrillholellartretemesocodipd aimhfheholettanzuoodoholelenh adiniondehtterttwngnceppoholelenh.tgo | All rlevdrillholeinfoionhabeioulydheASX.Notttetoteanrmasenprevsreporteial chahadtothisinfotionincitiginallymarngesveoccurrermasewasord.terepor |
| Ifhelusionfhisinforionisjified ohebaistttttexcomausnsforhaheinionisMaial adhislusionttttttertmanonexcdodefrohededingfhehettratttantt,tesnocmunrsoreporCoPehold clealylainhyhisishetentttmperson surexpwcase | All relevtdatahabeted.ansenrepor | |
| ioDatataggreganhodstme | IningExlorionRelighingingttts,treporpasuweaverag/ohniqimdinimdeiontectrutues,maxumanr mumgrancas(ingfhigh gde)d cff gdettt-oe.g. cuorasanuras arellyMaial ad sholdbed.tertateusuanus | Noinglorionlt rtttseporexparesu |
| Wheinincholenhsftetertstettreaggregaceporporasrgohigh gdeldlonlenhsflowdetstraresuangergogralhedudforh aionholdts,ttresuprocereusesucggregasubed ad sical elesf shtatetysnomepxampoucionholdbehoindeil.ttaaggregas sswnu | Noinglorionlt rtttseporexparesu | |
| Theiondforingf mltttaassumps useanyreporoeivalenlueholdbelealyd.t vtateeqas scrsuu | Badliminatalluricaltetwkdetakebyiouseonprerymegsorunrnprevsowners,includingfloiondicionhefollowingionfoldtatttttanmagneseparaassumpsr go,ivalentsequare:-$GoldPriceUS1,150/oGold90%zrecovery–$CoPriceUS6,700/tCo90%pperpperrecovery– |
| Criiater | CCoJORdelaniotexpan | Cotammenry |
|---|---|---|
| $SilvePriceUS15.50/oSilve60%rzr recovery –$S/%IroPriceU90tIro70nn recovery –Thelculaionfold eivalenluebad ohefollowingfola:tt vtcar goquas wassenrmu$$*$AuEq=((0.9*AOz1,150)(0.9*CMetal6,700)(0.7FMetal90)+++uue$$(0.6*AOz1))/1,105.55g | ||
| Relaiohiptnsbetweeninlisaiotmeranidhsdtanwinlenhstettrcepg | Thelaionhipicularlyiminhetttanttseress areparporingfExlorionRelttts.reporopasu | fTheMabilodrillhabedrilledboth vticallydinclined.Theientationveeneranoroheinelisedbodiesisbadinionf glogfrodrillholesttetatmraseonrpreoeoymtedbyticdellinghichindicatethathfthesuppormagnemowsmucoinelisaionisdipinghehwttottt.mrapsoesu |
| Ifhefheinelisaionih rhettrytttttotgeomeomrawespecdrillholeleiskniholdbed.tsturteangown,nae sreporu | fTheintetedientationtheinelisedbodiesisbadticrpreoromraseonmagnedellingddrill-holedadisdodinheThefahahetatett.ttttmoanancumenreporcintetionindipingbodydthefottruidthshabersecsareapanrerenoewsend.terepor | |
| Ifiisknd olyhedoholelenhsttttnoown annwngareffecd,heholdbeleahistettatemttottreporresuacr sene('doholelenh,idh nkn').ttruttegwngewoown | Nointelsted cbedtobetruidth oftheinelisationrvareporanassumeae wmra | |
| Diagrams | Apiad sion(ih sles)dtettproprmaps anecswcaanbulaionfinholdbeincludedfortattertss ocepsuanyigificadiscbeingdTheholdttesnnoveryreporsesuincludebubelimidlaniewfdrillholet nttetooa pvo,llarlociond aiaionl viewttetcoas anpproprsecas. | Refefigihinheinbodyfhistotttt.rureswmaorepor |
| inBalandtcereporg | Wheheiveingf allExlorionttrecomprensreporopaRelisicable,iveingftst pttattsunoracrepresenreporobohlowdhigh gded/oidhsholdbettanras anr wsuicedid misleadingingfExlorionttottpracavoreporopaRelts.su | Nolicable.t app |
| Ohebsivettatrsunloiodattaexpran | Of mfuheloriondaiingl ad mial,holdttta,terr expaeannasubedincluding(bulimid)logicaltet nttetoreporo: geobsionhyical slheicaltts;oervas;geopsurveresugeocmylbulk slesized mhod ofts;tsurveyresuampsane–lluricallbulkdeitretmt;tatest rts;ty,aenmegesnsudwhnical ad rk chaisicstertectertgrounageonocrac;,ialdeleiouinaingbstenttertamttanpos or consuces. | AllingfulloriondaingheMabiloPrjhabettattmeanexpaconcernoecsentedinioutstotheASX.reporprevs repor |
| Criiater | JORCCodelaniotexpan | Co | tammenry |
|---|---|---|---|
| Fuhektrr wor | Thed slef plandfurhek(turttestsnae ancaoner wore.gforlal eiondehionlarletertenttenass orpexss orge-scaxdrilling).tepts-ouDiaglealyhighlighinghef piblettramscrareasoossionincludingheinlogicaltentexss,mageo | | DrillingisingttheMabiloPrjt which will steticallytet mticongoaoecysmasagnebodiesdlonikedbeheNohMinelisedtettatstrtwttansp-ourgeagsaneenrraZodtheSothMinelisedZoll ado-dipfrotheneanuraneas weswnmsezones.Refetofigithintheinbodyfthist.rureswmaorepor |
| iniondfudrillingidedhistertatturtpres aneareasprov,forinionisiallyiivett ctmanoommercsens |
Section 3 Estimation and Reporting of Mineral Resources
| Criiater | CCoioJORdelantexpan | Cotammenry |
|---|---|---|
| Dabainitategtyser | Mkehadahabetatotttateasuresnensures noendbyforle,ipionkeingtetratcorrupexampnscrory,forbeiiniial cllecionditwtstttserrors,eenoanuseMinelReimionttrasourceesapurposes | DadinheMinelReimisdfrodabatatttetat.userasourceesasourcemaseexporRelevttablesfrothedatabatedtoMSExlfot adtedanmseareexporcermanconverfofoS3ffototimtintoDatainetudiotwintheMinelcsvrmarpormsoarer useraRetimtesourceesa |
| Dalidaiondud.tatvaproceres use | ffoValidationthedataimtincludehekslapingintels,issingoporccroverprvamdataissingdataissinglithologicaldatadissingllarsurveymassaymanmcos.,,, | |
| Siisitetsv | Coiisidekebyhet otetstatmmenn anysvunrnCoPedhefhoisitentttcotts.mperson anoume osev | AtativeftheCotetPe(CP)haisitedthejt olrepresenompenrsons vproecnseveraiont rtlyinJuly2014.Diamddrillingdeoccass,mosecenonprogramswereunrwayMabiloduingheiisiTheCP'siveblettt rt stet.tattoarmosecenvrepresenwasaiewdrillingdlingdull ainetheinelisationrevansampproceres,aswesexammradiadlogicalfeSalefailiiesdhetetutottoccurrenceanassocgeoares.mpsragecanlyticallabotoinMaillahalsobeinsted.Thetiveanararynveaenpecrewerenonegafrofheboinsiondll slesdlogicaldatcotttaoumesmanoavepecs,anaampangeoyffodeditintheMinelRetimtewereemer userasourceesa |
| If niisihabedekeindicahytetstateo svveenunrnwhisishettcase | Nolicable.t app | |
| Geicalologiniotetatrpren | Cofidein(ly,heinf)hettatytnnceorconverseuncerologicalinionfheineldeitertattt.geopreomrapos | Thelogdineldisibuionfheisblylexdistrtttegeoyanmraosysmreasonacompan,beingtatlyfineddrillingisdetakeAshtheCPhatakeconsnreasmoreunrn.sucsnivehMinelRelasificaionttota conservaapproacrasourcecs |
| Nafhedad ad of aionturttate ousennyassumpsdema | froDrillholeintetlogingltsdtrutulintetationdrillrcepgassayresuanscrarpresm,hafodhebaisfohelogicalinionAsionhatttetattcorevermesrgeorpresumpsve |
| Criiater | J | ORCCodelaniotexpan | Cotammenry | ||
|---|---|---|---|---|---|
| bedethedethdtriketetsfthekainelisationintetedenmaonpansexnosrnmrarpredehbad olimiddrillingd ghyicalinfoiontttetapsenaneopsrma | |||||
| | Theffecif af aliveiniont,terttertatenyonapres on,MinelReimionttrasourceesa | | Thetetsfthedelledllyblyll ctrainedbyexnomozonesaregenerareasonaweonshelogicaldelinionhichisbadhedrilllogingdttetattgeomorpreseonganwhyicaldataDiffetintetationftheinelisationhabegeopsrenrpresomraveendekeheinflueMinelReimiondhetatotttunrnassessnceonrasourceesaanncejticsWhelogicalintetationhahighdefproececonomregeorpresagreeoiniislasified aInfeddlesf mdellingtatytteuncercssrreregars ooparamers | ||
| | Thef gloginidingd cllingtroseoeoganonuyuMinelReimionttrasourceesa | | GeloghabetheiminflueintrollingtheMinelReoysenprarynceconrasourcefrafotimtionWirehabetrutedtheioulithological zesamesveenconscrarsonesvbadtylef minelisationhot rkdidationtatedeteinedbyseonsorasocanoxsasrm,thelogingd aingcoreganssay | ||
| | facffecf gTheinginuibohdedtortttyts aconoraanloggeoy. | | Cotinuityf glogd strutubeidetified adtradbetwdrillholesnoeoyancres cannnceeenbyisul,hyical adheical chateisticsBriaintetedvageopsngeocmracrecczonesrpretolatetofalttrutuhabetedinthedrill cdhabereuscresveennooreanveendelled.mo | ||
| Dimioensns | | fThediabiliheMinelRetent atytexnvarorasourced alenh(lonikeheise),ttrtexpressesgagsor orwlanidh,ddehbelowfachetttotpwanpsureupperdlowlimifheMinelRetstanerorasource | | So(S)ThethMinelisedZoMZisintetedhaing400trikelenth,uranerpreasvamsgis20to40intruidth,ith vticaldeth uto240frohly50belowme wwerppmmrougmfa()f rTheNothMinelisedZoNMZhatriketet ohly100surcerranesasexnougm,idhbe20d60ddehf135frohly40truttwttet oeweenmanmanpexnmmrougmfabelowsurce | |
| Esimiottandellinmoghniqtecues | dan | | Thed aiafheimionturtentttnae anppropress oesahniq()lied adkeiontectuesappnassumps,yincludingf edeluetretmt otreaenxme gravas,doininginlaiond mimterttermapoparames anaxum,disf elaionfrodainIf atantrattats.ceoxpompoisd eimionhodhotertetttcompasssamewas csenuincludedeipionf cfdttertwascroompusoare and.terparames use | | Theinelisationhabetimtedingdinakriging(OK)dinvmrasenesausorryanersedishe2(IDS)hniqinDaineSdio3f30tatottetatutwncepowercuesmsoare.inelisedlenhabeintetedddinto15inelisedmrasesveenrpreanaregroupemralihologicaldoinfCu-AFeinelisaionbadlenlihologttttymazones omraseonspeu-y,d gdeThe8 oftheintheSMZd7 zintheNMZ.anrarearesezonesanonesTheinelisedlithologicaldoindhadbodaiestolectmramazones wereuseasrunrsefoSoflelationdatalyisddetimtiontbodaiessamppopusranasangraesaunrbehedlodeihinheinelisedlihologicaldoindtwtttteengroupeswmramazonesanhadbodaiesbetwinelisedlithologicaldoinhabedinrunreenmramazonesveenusehedeimionSisicallyisledhttttatttetograesaanaswascomponeaczonedeteineiatetotstolytotlierdefFeAuCudAgrmapproprp-cuappougrasoan,, |
with low sample numbers.
For this maiden Mineral Resource OK and IDS estimates are completed concurrently in a number of estimation runs with varying parameters. The results are compared against each other and the drill hole results to ensure a reasonable estimate, that best honours the drill sample data is reported. No mining has yet taken place at these deposits.
where required. OK was used for the majority of zones with IDS used for 4 zones
- Ag has been estimated and is assumed to be also recoverable as part of the Au recovery processes.
- Potentially deleterious As and S have been estimated into the model to assist with future metallurgical work and mining studies, but are not reported at this stage.
- Interpreted domains are built into a sub-celled block model with 20m N-S by 20m E-W by 4m vertical parent block size. Parent block size is chosen based on being roughly half the average drill spacing over the majority of the deposit areas. Search ellipsoids for each estimation zone have been orientated based on their geometry and grade continuity. Sample numbers per block estimate and ellipsoid axial search ranges have been tailored to geometry and data density of each zone to ensure the majority of the model is estimated within the first search pass. The search ellipse is doubled for a second search pass and increased 20 fold for a third search pass to ensure all blocks were estimated. Sample numbers required per block estimate have been reduced with each search pass.
- No assumptions have been made as no mining studies have been completed.
- No assumptions have been made with each element separately estimated. Statistical analysis shows a generally good correlation between Au and Cu grades in unweathered zones and poor correlation in weathered zones.
- Soft boundaries between the grouped lodes within the mineralised lithological domain zones and hard boundaries between mineralised lithological domain zones have been used in the grade estimation.
- Statistical analysis to check grade population distributions using histograms,
The availability of check estimates, previous estimates and/or mine production records and whether the Mineral Resource estimate takes appropriate account of such data.
-
The assumptions made regarding recovery of byproducts.
-
Estimation of deleterious elements or other nongrade variables of economic significance (eg sulphur for acid mine drainage characterisation).
-
In the case of block model interpolation, the block size in relation to the average sample spacing and the search employed.
-
Any assumptions behind modelling of selective mining units.
-
Any assumptions about correlation between variables.
-
Description of how the geological interpretation was used to control the resource estimates.
-
Discussion of basis for using or not using grade cutting or capping.
| Criiater | J | ORCCodelaniotexpan | Cotammenry | |
|---|---|---|---|---|
| | Thef vlidaionhehekingttprocessoaccprocess, | babilitylotsdtatisticsdthefficientfiationpropansummarysanco-eovarwas,ledh zfoheimdlemOulierdeioulytetttetstcomponeaconeresaeengras werevarsfodfot elemtsinthediffet minelisedlithologicaldoindunr mosenrenramazonesanffiatetotsheliedtoduinluethetlierapproprp-cuwreappremoveunenceoseoudethedetimtionfoh zgras ongraesar eacone. | ||
| d,heisof mdeldadrillholettatousecomparnoodadf riliaiondaif ailable.ta,ttaanuse oeconcva | | Validationheksincludedtatistical cisobetwdrill sledetheccsomparneenampgras,OKdIDStimteltsfohVisul vlidationf gdetredsfoanesaresur eaczoneaaoranrh elemlonhedrill sionled addloingdrillt atttetretseacengecs wascompnnpcomparlededdel gdefothingtingdlevtionsampgrasanmorasrnors,eassaneawereleted.Thehekshoblelationbetwtimtedblockcompseccswreasonacorreeenesadeddrill sledeNoiliationdataisilableininggrasanampgras.reconcavaasnomhatakelacsn pe. | ||
| Mistuore | | Wheheheimd odrybaistttontternagesareesan asih nl misdhehod oftturturttorwaaoe,anmedeinaionfheisterttturtent.momoe con | | Tohabetimteddrinitubais.Noistuluennagesveenesaonayssmorevaswereiewd.reve |
| Cufft-oteparamers | | ()Thebaisfhedod cff gdelittet-otysoapurasorqualied.terparames app | | ff gf af/Folithological uitsinallowt-odebination0.3tr somennomercuras ocomogAud0.3%Cuddefineinuinelisedlendehetottanwereuseconousmrases,unrtionthatthedeldbelostoinimicbrkeassumpsegraswouceamumeconomeavendegra |
| Mininfatogcrsoriotassumpns | | Asiondedingibleiningtsumps maregarpossmhodsiniminingdimiondinlttermemummenss anna,(if alicable,l)iningdiluionIisterttorppenamx,lwfheft otaays necessaryasparprocessofordeiningbleltertstuamreasonaprospecevenicionideial miningtrattotenteconomexcconsr pohodsbuheiondedingttttmeassumps maregar,ininghodsd pheimingtterttmmeanarames wnesaMinelRelwbeigt arasources maynoaysrorous.Whehisishehisholdbedihttttetrecasesureporw,fflanionhebaisheiningtttanexpaosomiondetassumps ma | | Ihabedhahedeiillbebleiningtttttstot msenassumeseposamenaopencwuthodsdictoloitiththisthodologtthetedmeanareeconomexpwmeyarepor,del gdeNoiondinginiminingidhsdttaveragemoras.assumpsregarmummanwdilutionhabedetodateveenma |
| Melluicaltargfatocrsoriotassumpns | | Thebaisforiondiciondingttsassumps or pres regarllurical abiliIislwtaty.tmegmenaaays necessaryasfhefdeiningblet otterparprocessomreasonaforl eiciontstuatrattoprospecevenconomexc | | Notiondingtallurical abilityhabedeMetalluricalassumps regarmegmenaveenmagfrotetwkistlybeingdetakedltsthiskillbesorcurrenunrnanresumworwinctedintofutudel udateTheidetionf similardeitsinorporaremops.oxporsoposfutheionbeingllyloitedbythetitiesditisdthatregaresuccessexpor enanassume, |
| Criiater | CCoJORdelaniotexpan | Cotammenry | ||
|---|---|---|---|---|
| ideial mllurical mhodsbuhetenttatttconsr poege,iondinglluricalttatretmtassumps regarmegaend pdeheingtertprocessesanarames manreporwMinelRelwbeigt arasources maynoaysrorous.Whehisishehisholdbedihttttetrecasesreporuw,lanionfhebaisfhelluricalttttaanexpaosomegiondetassumps ma | hebeicallyloidhedelleddeIisdttetttseonescaneconomexpamogras.assumezthatthethedinelisedteialillbedilydedheun-wearemramarwreaupgrawreingdadiicd/ofrohfloiontatytttatnecessarussnrgravmagneprocessesanry,,trationtehniqiatefothediffet pdut streconcencues as approprrrenrocams. | |||
| Eniroltanmenvfatocrsiotassumpns | or | Asiondedingibledttesumps maregarposswasanidudispl oionIislwttprocessreseosaps.aaysffhedeiningt otternecessaryas parprocessombleforl eictstuareasonaprospecevenconomionideheial eiroltrattottenttaexcconsrponvnmenimfheiningd pingiontsttpacomanrocessoperaf pWhilehishedeinaionialtttagtterttentasemooirolimicularlyforfieldstats,tenvnmenpacparagreenjlwbell advd,het,t atproecmaynoaysweancef elyideionfheialtatustttentsoarconsraosepoirolimholdbed.Whetatsteenvnmenpacsureporrehehabeidedhisttsttseaspecvenoenconsrefholdbedih alanionhetetttsrepornexpaouwirol aiondetatenvnmenssumps ma | | Noiondingibledidudispl oionttetassumpsregarposswasanprocessreseosapshabedeItisdthat shdispl will nt pt aigificatveenmaassumeucosaoresensnnfhudletoloitationthedeitdthatdispldtetialrexpoposananosaanponyirotalimtsldbetlydireddetheenvnmenpacwoucorrecmanageasrequunrlaiingdiiontotttregrypermcons.u |
| Bulkdeityns | Whehed odeined.If ad,hettertr assumermssumebaisforheionIfdeined,hetttertsassumps.mhodd,hehedryhefrefttt otmeusewr werquencyo,heheizedtts,tturmeasuremennae,sanivefhelestattrepresennessosamp | | In-itudrbulkdeityluehabeliedtothedelledinelisationsynsvasveenappmomrafofobadlineionlastheddthedteialseonarregressrmurweareanunwearemarly.ThisisbadblelaionhaingbefodbetettwseparaseonreasonacorresvenuneenOfdbulkdeityltsdFethe674tstake435hameasurensresuanmeasuremenn,veldaih177fallingihinheindinelised zttatttteteassayresuwwrpremraones, | |
| Thebulkdeiforbulk mial mhabetytertnsausveendbyhodshadelyforttt atetmeasuremequaaccoun(),id siisdty,tcturvopacesvugs,porosemoe andifferbek ad aliontwtertenceseenrocnaoneszihinhedeittt.wpos | | Deitytshabetakedrill slesingtedtensmeasuremenveennonampuswaxcoawardisplachodsfrolldiffelihologicalt mttttyemenemarenpes, | ||
| Discionforbulkdeiimttyttesuss assumpsnsesadinheluaionfhedifferttttuseevaprocessoenials.terma | | WihheblelaionbeFededbulkdeiiisdttttwtytreasonacorreeengraannsassume,that uftheionfolasdeibingthislationhipisiateseoregressrmuscrresanapproprffothodtingthetediabilityinbulkdeitythedemeorepresenexpecvarnsrgratimtedinelisedblocksesamra | ||
| Clasificaiotsn | ThebaisforhelasificaionfheMineltttscsoraReiningfideiestotegsourcesvaryconnce caor | | ClasificationftheMinelRetimteiedttakingintosorasourceesaswascarrouf gff stthelevl ological udetadingthedeit,litylesaccouneeonrsnoposquaoamp, |
| Criiater | JORCCodelaniotexpan | Cotammenry |
|---|---|---|
| deitydataddrillholeingnsanspac | ||
| Wheheiahabekef allttettar appropraccounsenno(levfacielaivefideinttortreansreconnce/gdeimionliabilifinpdatontttytta,nageraesas,reouff gideininuilogd mlttytaconnceconoeoyanelueliiddisibuionfhety,ttytrttvas,quaquananoda).ta | Thelasificationflectsflowdhighelogical cfideincsreareasoeranrgeoonnceinelisedlithologicaldointinuitybadtheintetingdrill sledatamramaconsersecampbeingdientationOvll minelisationtredsblynumrsspacanoreraranarereasona,istet withintheioulithotydrill stionconsnvarspesover numerousecs. | |
| Whehehelialyflechettt atetstrresupproprreCoPe'siewfhedeitenttt.mpersonvopos | TheMinelReimialyflecheiewfheCottetetstttetrasourceesaapproprreompenvPerson. | |
| Audiietsorrevws | Thelf adiiewfMineltstsresuonyauorrevs oraReimttessourceesa | Intel aditsletedbyCSAGlobal whichifiedthetehnicalinptsrnauwerecompvercu,hodologdlfheimttetstttemeparamersanresuoesay,Notel aditshabedetakeexrnauveenunrn. |
| Disiofcussno/laivetreaccuracyfideconnce | Wheiafhelaivetetatemt ottreappropra senrefd cidelevlinheMineltaccuracyanonnceeraReiminghduttesourceesausan approacorprocereCoded aiabyhePeFotettentemepproprmperson.rle,helicaionf sisical otttattexampapporfyisical pduihelaivetatttotttgeosroceresquanrefheihind cfidetttateaccuracyoresourcewsonncelimiif sh ahisdedts,tor,ucn approacnoemeialiivediscionfhefacte,tatttorappropraquaussosffechald ahelaivedtt ctttoureaccuracyanfidefheimttte.connce oesa | ThelativeftheMinelRetimteisflectedinthetingreaccuracyorasourceesarereporffOCCotheMinelRetheidelinethe2012JRdeorasourceas pergus o |
| fyThehold siheheilatatemt stt rtestosenupecwrelobal olocl eimd,iflocl,hettestatetgrasaanas,levhich sholdbelevttonttoreannageswurean,hnical ad eicluaionDoiontecttatnconomevacumenholdincludeiondedhettsuassumps maandud.proceres use | TheMinelRelalobal eimfin-idtatet rtetottetutorasourcesmenesgsasosnnesandegra | |
| Thef rlaivedtatemtstsesenoeaccuracyanfidefheimholdbedttteconnce oesasucompareih pduiondaheilable.ttta,wrocwreava | Thedeithat,dist ctlybeingined.poss noannourrenm |
Appendix 5: JORC Code 2012 Edition
Table 1 Bunawan Drilling Program
| Criiater | Exlaniotpan | Cotammenry |
|---|---|---|
| Sainlmpghniqtecues | Nadlifling(turtyteanquaosampe.gcuhals,dohipificcnneranmcs,orspecialisedindudadtrytantspecssrmeasuremenlsiaheinelsdetootetotapproprmraunrinvigionhdoholettesasucaswngamma,dehadheldXRFins).truts,tcsons,ornmeneThelesholdbekettaseexampsnonasulimiinghebrd mingf slingttoaeanoamp | ThedadisbadlingfDiamdDrill cfPQdHQdiamThetatetereporseonsampoonoreoaner.corewaslit withdiamddhalf clesf1trelenthlestfolyisbyspaoncoresawanoresampomegorssenr anasanindedeISOifiedlabo(InkTeingSeicePhilipineInc)inMaila.tttotetetpenncerraryrsrvsps,n |
| Includeferketotatoreencemeasuresnleividhettytensuresamprepresenanialibrionf atettapproprcaaonymeasuremen | Thedrillingissindfielddulicaifiedfedads(CRM)tutettaasreconnaancenareannops or cerrerencesnrwbmitted.Thelabotohich alydthelesdutedteivehek slingtweresurarywnasesampconcexnsccampas parfheir oinlQAhich wdinhehettetettsownrnaprocessesasreporassaysew | |
| lsd.tootemorsyss use | Fohe341lesbmidInkdud21SedSalely(frodliftttetetetetsrsampsrconcconmpanasesmseconspouthehedleiortolveising)d37RetSalely(telit adcoarsecrussampprpuranpeampanasesaseparaspn/fro)fdigtFirethelveisedteialindditionto21 atheirblank mteial adesassaympurmarassays oownarn41 afCRMdadsThelindicabledbilitatstetatatyssays osnrresuaccepaccuracyanrepea | |
| AsfhedeinaionftsttertpecomoinelisaionhaMaialhePublicttt atertotmrareReInhe'indudad't.trytanporcaseswressrkhabedohisldbelaivelyttworsenneworeuimle('reirclaiondrillingtspe.gversecuwasfrodbin1 mleshich3kgtotauseosampmwlveiseddu30 ghafortowas purproceacrgef').ireInhetassaorcasesmoreylanionbeired,htexpamayrequsucasheheisldhahainhettttrerecoarsegosrenwlingblemUnldiiestsamppros.usuacommo(inelisaionbminettyormrapese.gsuar | Diamddrill cfPQdNQdiamtetinhalf adhalf clesbmittedtotheonoreoaner werecunoresampsuLaboSaleinlslesSalesheddlveized(9%totetre575<rarymprvawereonemeors.mperecrusanprwu).Gold wlydby50Fire/AASdAgCuPb,ZndAsbyAAS.Reidulhalf cumasanasegassayanansaore,,habeinedfofedfulluricalk.Cojdlpillbetatutatetwtssenrerrerenceanremegsorarsereecanpsuwtrievdfrothelabotod stodfofutufedirereemraryanrerrererence anumpassays. |
| Criiater | Exlaniotpan | Cotammenry |
|---|---|---|
| )fdulesdisclosdeiledttanomawarranureoyinforiontma | ||
| Drillinghniqtecues | Drill(irclaiontytpee.gcorereversecu,,-hlehairblastart,openommerroyaauger,,Bakaic,)ddeils(tc.tangsoneane.g. core,diamipledadbedehftertrtantuteorsrpo,,diamdils,faclingbihetattone-sampororheheisienddif sbytyttepe,wr coreorano,hahod,).t mttc.eew | DrillingbyPQdHQdiamiplebediamdTheholellard(GPS)butetrtutwasaner,oncorecos were surveyedoholeientationt cduted adthet oientated.wnorsurveys werenooncncorewas nor |
| Drill sleamprecovery | Mhodfdingdingteorecoranassesscoredhipleiesdltsancsamprecoveranresud.assesseMkeimiseletatoeasuresnmaxsamp | CoinitiallyditebytrainedtehniciandininthehedbythererecoverywasmeasureonscsanagacoreshedlogisAnlosisd,helculaddbohdedinhet.ttatettcoresgeoycoresmeasurepercengecaanarerecorGetehlogIninstahebrksffbefothebottoftheholeleadingto"at pocnceswrecoreeaoremopparenoor"followdbyf100%hedjisdeinhedsThettmtt>recoveryeacorerunorecoveryausenmarecorcoreiesintheineholesdrilledllent withllholesindividullyingtetha98%recovernwereexceaaaveraggrearndhebined af all nineholesbeingha99%ttetancomverage ogrearnrecoveryDrillerinfodftheimtaf cdll cistaketoimsarermeopornceoorerecoveryanaarenensuremaxum |
| divetatturrecoveryanensurerepresennaefhelestosamp | fdiamd crecoveryoonore. | |
| Whehelaionhipisbetttstwraresexeenleddedhehetsamprecoveryangraanwrlebiashaddutosampmayveoccurreeferiallos/ginffine/ctpreensaooarseial.terma | Theisdisciblelaionhipbeddediesifolyttwrenoernreseen corerecoveryangraanrecoverereunrmverywhigh. | |
| Loinggg | Whehedhipleshabetr coreancsampveenlogicallydhnicallylogdtectogeoangeogealevl ofdeiliaMineltatot ateesupporpproprraReimioniningdiesdtttusourceesamsan,llurical sdiestatumeg | Thediamddrill cishotoheddlogdinbefloginghetsincludinglogicalonorepgrapangeanumr ogseageologllogdhnicalloghichisiafoinel rimdtrututetetteascraanageocapproprr mraesourceesasanw,,iningtudiesithef whichhabedetaketthistamsner oveenunrn asge., |
| WhehelogingisliivettatrgquaoriiveinCo(ttatturteaquannae.reorcosn,)hal,hohytc.togcnneeprap | Mofhelogicallogingisixf qliive(deipionfheioulogical minelst ottutatttsgeogamreouascrsoarsgeoravdfetu)dtitative(bedlesf vinstc).Phototakef all c(both wtanaresanquannumrsanangoees arenooreeddr)hich cbeided qiivettatananconsreuanyw | |
| Thellenhdfhetotattagtganperceneo | All cisinitiallylogdintheiouloginghetstedbodintelskedtfooregevarsgsenoaveanrvaaremarour |
| Criiater | Exlaniotpan | Cotammenry | |
|---|---|---|---|
| levinionlogd.ttertreansecsge | ingd slingNot all chabeledtodatesawanamporesensamp | ||
| Sub-linsampghniqtecuesdleansampiotpreparan | If chehedhehett otore,wr cur sawnanwrhalf oll cketertaquarr aoren., | Salelenthstre(lestoincideithlithologicalbrks).All cfroinelisedmpgareonemeorscoweaoremmraffafodtheimdiatedingksinitiallyinhaltoidebettezonesanmesurrounrocwassawnprovar surcerlogicallogingHalf cisllecdfolyisdhehehalf rinedfofedtetttageogorecor anasanorer rerenceanortalluricaltetwk.megsor | |
| If nheheiffled,beled,ttuon-corewr rsamp,lidheheledtart,tc.ttrospeanr sampweywdryor | All slingtedisfdiamddrill campreporoonore. | ||
| Foll slehelidtytturtyr aamppesnae,quaan,iafheleiontenttappropressosamppreparahniqtecue | Allhalf clesbad,labelleddISOifiedindedelabohettotttooresampereggeansenancerpennraryrewwlesdried,hed adlveisedto95%ftheleing75μievsamparecrusnpurosamppassamse. | ||
| Qulil pdudodforlltytroteaconroceresapab-lingimisetagtosusampsesmaxivif slesttyrepresenoamp | Thedrillingissintudfielddulicatetifiedfetadads(CRM)wasreconnaancenareannops or cerrerencesnrbmid.Thelabohich alydhelesdudivehek slingttetottetetweresurarynasesampconcexnsccampas parwftheir ointelQAhich wtedinthehetsownrnaprocesseswasreporassayse | ||
| Fohe341lesbmidInkdud21SedSalely(frodliftttetetetetsrsampsurconcconmpanasesmseconspo)Sa(thehedleiortolveisingd37Retlelytelit adcoarsecrussampprpuranpeampanasesaseparaspndig/Firefrohelveisedial)inddiion21 afheirblank mial adtttettotteesassaympurmarassays oownarnfC41 aRMtadadsTheltsindicatetabledtabilityssays osnrresuaccepaccuracyanrepea | |||
| Mkehahelingtatottteasuresnensuresampisivefheiniialtatttuterrepresenosmallecd,includingforinslfortetantscoceresufielddulica/sd-half slingtepeconamp | fHighdrill cieshievddidedoholetainationduingdrillingorerecoverwereaceannoevnceownconmrd.Thehalf clesbeidedivefheinsiial.tetatttutenoore sampcanconsrerepresenomar | ||
| Wheheleizeiattetorsampssareapproprheinizefheialbeingtttergrasomaled.samp | (ff c)fTheleizetly1trehaldisitableinttotheinizethesampsmosmeooreusesurespecgrasoinelisationmra |
| Criiater | Exlaniotpan | Cotammenry |
|---|---|---|
| Quliftyaoda&taassaylabtetss | Thelidiafturtytennae,quaanappropressoheingdlaboduttorassayanrayproceresddhehehehniqistttecuseanwrueided pial ol.ttotaconsrearr | Thetehniqdfotheltstedheinintetionl stadaddbeassaycuesuserassayresureporrearernaanrancanidedl.Gold wlydby50 gfiredhehelembyAAS.totatttsconsreasanaseassayanor een |
| Fohyicalls,tootroterrgeopsspecmes,hadheldXRFinshetruts,tc.tnmene,dindeininghetertertparamesusemlyisincludinginskedtrutanasmenmaandel,dingimlibrionfactttormoreaescaass,lied adheirdeivaiontttc.appnre, | foNohyicaltols,trotehadheldXRFinstrutstcdlyisgeopsospecmersnmenewereuser anyanasor,bstiontedhein.oervareporre | |
| fNalilduturtytroeoquaconproceresdod(dadsblanksdulicatetantesape.g. srp,,,)llaboheksdhehetertortexnarayccanwrblelevlsf a(i.elackftaaccepeoccuracyo)biasd pisionhabeblished.taanrecveenes | fffe(C)ThedrillingissintudielddulicatetiiedtadadsRMwasreconnaancenareannops or cerrerencesnrbmitted.ThelabotohichlydthelesdutedtheirteivehekweresurarywanasesampconcownexnsccfQlingt otheirintelAhichistedinthehetsFothe341sampasparownrnaprocesseswreporassayserlesbmittedIntetekduted21SedSalely(frodlitsfthesampsurconcconmpanasesmseconspocoarse)Sa(/hedleiortolveisingd37Retlelytelit addigtFirecrussampprpuranpeampanasesaseparaspnesfrohelveisedial)inddiion21 afheir oblank mial ad41 afttettotteassaympurmarassays ownarnssays oCRMtadadssnr | |
| Theltsindicatetabledtabilitydidedtablefotheinitialresuaccepaccuracyanrepeaanareconsreacceprf rhaissdrillingpseoeconnaance | ||
| Veificaioftrnolindsampganinassayg | Theificaionf sigificainiontttertveronnsecsbyiheindedelivettterterpennoranal.companypersonne | Theheical rltstedheindthelculatedfodiffetintelsgeocmesureporreancaaveragesrrenrvawereindedetlyheked ad clculatedbytwl.pennccnao companpersonney |
| fTheinndholestwseoeu | f wThedrillingisedinedrillholeshichhabetwinnd.programcomprnnoneoveene, | |
| Doionf pimdadatatta,tatrycumenoraryenfdudaiicaiondatattatorproceres,versage, | Thediamddrill cislogdinigificatdetailinbef steltelatelogingonoregesnnanumr oeparaexcempghetsincludingse: | |
| (hyical ad elecic)ls.trotocpsnnproo | 1]logicallogf all cdingineloglihologliondef oidaiondttetta geooore,recormraaragree oany,y,x,inelizationmra; | |
| 2]trutullogf all cdinglphadbetalestrututyintydinfill;a scraoore,recoraanangscrepesvepesan,, | ||
| 3]tehnicallogf all cdingRQD,defetsfabricsa geocoorerecorc;, | ||
| f a4]heicallogltsa geocmossayresu | ||
| froff rThedrillingltstedtheirst phaissdrillingdthedatahatberesureporaremseoeconnaanceans noen |
| Criiater | Exlaniotpan | Cotammenry | |
|---|---|---|---|
| inctedintodedicatedPrjt ctedatabatthistaAlllogingddatahaorporaaoecompurseasge.ganassaysbelidaddhiveddisilablefofufeHadiesf allloginghetetutsenaanarcanavarrererence.rcopogsearevket atboththePrjt officeinButowdtheDadPeth officepoecnawann anvao anrs. | |||
| Rethalf cdthejtsdlelptudfrothelabotoketinmnanoreancoarsereecansamppusrernemraryareplocked sheCo'sd aButotttrage ampancorearnawan.yy | |||
| Discdjdatmttota.uss anyausenassay | Theltstedheinincludelculatedfrotetigtreintels.resureporreaveragescamseparaconuousonemervaNobof ahabelied.tottot opormcunyassayssenapp | ||
| Loioftcanodaintatspo | Acdlifdtytocuracyanquaosurveysuse(locdrillholesllarddo-hleteacoanwno),heinekingdtresurveysncs,mworsanhelociondinMinelRettorasuserasourceimionttesa | DrillholellaritedithhadheldGPSithf +/-5treNodoholecoswereswanwanaccuracyomes.wnientationduted.orsurveywas conc | |
| Spffiicaionheid sd.tttemecogrysuse | CoGrGS().dinateUTMid;W8452N-ors areona | ||
| Quliddefhictytopaanaquacyoograpl.trocon | TheBuisdetelyhilly.Thellarlevtionfothedrillholestedheinisbadnawan areamoracoearreporreseonfroGSdinghadheldPdisistet with gttohicareamananconsnovernmenpograpmaps. | ||
| Daintaspacgdan | DaingforingfExloriontattspacreporopaRelts.su | Thedrillholeltstedheinfroissholesdrilledtediscteassayresureporrearemreconnaanceonsepararehehalarid.tatsttrgerarn areggru | |
| disibuiotrtn | Whehehedaingddisibuionistttatrtrspacanffficienblishhedettotatsuesgreeological addeinuiiattytegeongraconapproprforheMinelRedOrRetrasourceaneserveimiondu()dlasificaiontttesaproceresancsslied.app | TheBuPrjtist alytaddrillholest viableingimdttetingdisctenawanoecan earsgeanareaarspacaeasref minelisaionNoimf gdeinuidetttettyzones oraesas oraconresourceor reserves arema, | |
| Wheheleiinghabettrsampcompossenlied.app | Noitingfintelsinthefieldhabedetakecomposorvasenunrn. | ||
| Orienioftatnoindatalaiottoren | Wheheheienionflingtttatrorosamphievbiasdlingfibleacesunesampopossdhehichhisistruturttenttotscesanexw | ThedrillholestedthefirstholesdrilledttheBujt,dhiledfareporareanawanproecanwmappesurcellyENEdingddrillholesienddicularhisditrututrettetottret ctscresaregenerananmosorperpennannobed atthislytaf elortionthattheintelsted atruidthsf minelisationassumeearsge oxparvareporree wora |
| Criiater | Exlaniotpan | Cotammenry |
|---|---|---|
| loicalgeogtrutuscre | knideinghedeitttyown,consrpospeIfhelaionhipbehedrillingtttwtreseenieniondheienionfketatttatoranoroyinelised sisidedhatruturtomracesconsreveindudlingbiashisholdbetrotceasampsu,d ad rdif mial.teterassessenepora | fAsted abot othedrillingduteddiculartotheintrutultredindicatedinnovemoswasconcperpenmascran,falogbutit ctbedtthislytaf elortionthattheintelstedsurcegeoyannoassumeaearsge oxparvareporaref mtruidthsinelisatione wora |
| Salempitysecur | Thekeletatomeasuresnensuresampity.secur | Chainf cdydbyheloyColacdinbyhedrillingtottratousasmanagecompanempees.rewas pecoreswyydket at sitedetat wtchbyColoyiortobeingtratedfrothecrewanpunr consnampanyempeesprnspormdrill sibyColoyinCohiclehehedhelogddtetotmpanempeesampanvecoresrecorewasgeanyywlesdfodisptch.sawncoresampprepareraSaleskedinbod stdiretlyfrothehedtothelabotoletionmpwerepacxes anencmcoresrarysamppreparafailiinGelSaingloclReiningiskeinheCotytotowtrat cttcneransnusaansporompanmacorepmpany.yd whichisind atBuhichisded at night.coreyara secure compounnawan wguar |
| Auditsorierewsv | Thelfdiiewftstsresuoanyauorrevsolinghniqddatecta.sampues an | ThelingtehniqdQA/QCdataiewdbyCotdsampcuesanwererevempanymanagemenananindedelTheifhisisindedelhohaiewdllt ctat.tettt ctat wpennonsunrr oreporanpennonsunsreveawlehadlingtehniqdidethetobefindutrytadaddiatefothistasampncues anconsrsmossnranapproprrsgef eloriontoxpa |
Reporting of Exploration Results:
| Criiater | Exlaniotpan | Cotammenry |
|---|---|---|
| Minleradtet anemennlandtenuretatuss | Tyfer/nbelociontpe,reencenameumr,adhipincludingtsanownersagreemenorialissihhirdieshtertttmaueswparsucasjinhipidingtturtneovenesparrss,overr,liesiveileinhisicattttterts,torroyanaes,iildeionlkdtestswrnessornaaparan,irol singtattennmenes.v | TheBuPrjisdbyExlorionPeiEP-033-XIII,ExlorionPeiAplicaionEXPAttttttnawanoeccovereparmparmpSSf37-XIII adMinelPrdutionhaingAplicationAPA03-XIII.Drillingtivitythebjt othisnraocrpacsuecisihinEP033-XIII which wd o18Au2014foiod ofihtttettwtannouncemenwasgranngusr apero yearsw,thetiontofodditionl6 yoprenewr an aaearslTheNationlCoissionIndigPeles(NCIP)issd aColianCetificatetoBuinammonenousopuempcernawanCColianiththeFPIPrdthattheIndigityhaiveitsttothecompcewocess anenousmmuns gnconsenPrjt.oec |
| Theifheheldheimtyttentttsecuroureaefinglonihknttoreporaganownwy | ThetethetlybeinglordistedExlortionPeit whichisidednureoverarea currenexpea granparmconsresecure |
| Criiater | Exlaniotpan | Cotammenry |
|---|---|---|
| imdimbininglicetstotatopeenoanceinhetetoperaarea. | ||
| Exloiotprandobyhetneoriestpar | Acknledgdisalftowmenanappraolorionbyheiestttexpaor par | ThelyknioulortiontheBujt adutedbySierMiningonownprevsexpaovernawanproecreawasconcra/G.LimitediortoitsithtakebyRTThislortionincludedk chip,tredimtprmergeroverexparocsamseenwdil slingll adticdlogical mingll of which wtedansoampas wes agrounmagnesurveyangeoappaasreporSStotheAXbyierMiningra |
| Geloogy | Deilogical singd slefttytttypospe,geoeanoinelisaiontmra | MinelisationtBubedefined"intediatelphidation" o"cabote-btal"tyraanawancanasrmesurrnaasemepeithelAu-AinelisationiatedithdiatrebrialexMinelisationtyintheeprmagmraassocwameecccomprapesincludehighdeAuintz-boteinshotedbyll rk adeiteddaitell aareagraquarcarnaveswaocnsancaswes"s"lowdedissinatedAuinilicatrixbriasdelopdinthediatreergraem-maeccveeme |
| DrillholeInfoiotrman | Af allinforionialttertosummaryomamafhededinghelorionlttantttsnrsoexparesuuincludingbulaionfhefollowingtattaoforforinionllMaialdrillholesttermaa:ingd nhingfhedrillholellarttteasanorocolevionRL(RedudLel –leviontteaorceveeabolevlin)fhedrillholetretaveseaemesollarcodipd aimhfheholettanzuodoholelenh adiniondehtterttwngnceppholelenh.tg | Theinfotiontainedinthist ptainstotheinitial rltsfthefirst phaf rissrmaconreporeresuoseoeconnaancedrillingBuTheinghingleviondip,imhdholedehf allholesisdttttttteanawan.easnoreaaanporeporzu,,,intableithinthet.Thedethsfintetiondotedinthetext.Theloctionftheawreporporsecsarecumenaodrillholesihhedialex(indicadbydics)disaltttottretettrespecmecompasgrounmagneanarnawkinghointhet.wors areswnon amaprepor |
| ffforIhelusionhisinionistttexcomajifiedhebaishaheinforionisttttttusonsmaMaial adhislusiondotterttnonexcesnodefrohededingfhetratttantcmunrsoCohePeholdt,ttentrepormpersonsulealylainhyhisishettcrexpwcase | Loiond oienionf alldrillholesisd.ttattecaanrorepor | |
| Dataiotaggreganthodsme | IningExlorionRelighingttts,treporpasuewinghniqimd/otecaveragues,maxumanrinimdeion(ingftrutttmumgrancase.g. couhighde)dff gdellyt-ograsancuras areusuaMaial ad sholdbed.tertatensu | Theldheinincludelculadfroiginls.tstetetettreteresureporreaveragescamseparaconuousonemervaNotobottot of ahabelied.pormcunyassayssenappWheholenhsfhighdeihinideflowdehehighedetetttresrrgogracoreoccurswwr zonesograr grasare"inted aludinginyls"inthetableithinthet.noscervawrepor |
| Criiater | Exlaniotpan | Cotammenry |
|---|---|---|
| Wheininctetertstereaggregaceporporaholenhsfhighdeldtttssrgograresuanlonlenhsflowdelhetts,tgergograresududforhiontprocereusesucaggregaholdbeddicaltatetyssansomepulesf shionholdbetexampoucaggregassuhoindeil.taswn | ||
| Theiondforingfttassumpsuseanyreporol eivalenlueholdbelealytat vmeqasscruud.tates | Notal eivalent gdetedhein.mequras arereporre | |
| Relaiohiptnsbetweeninlisaiotmeranidhsdt | ThelaionhipicularlyttseressarepariminheingfExloriontanttttporreporopaRelts.su | Duheliminafhelorionibedhaheinlsd atottuttt ctttttetetrueprerynareoexpaannoassumervareporreeidthsf minelisationwora |
| wanintetrceplenhstg | Ifhefheinelisaionihttrytttgeomeomrawhedrillholeleisknittottsrespecangown,holdbed.turtenae surepor | fThedrillholestedtheirstholesdrilledttheBujt,dhiledreporareanawanproecanwmappesurtrutullyENEtredingdtdrillholesienteddiculartothistrescresaregenerananmoswereorperpennf etbedtthislytalortionthattheintelstedtruidthscannoassumeaearsgeoxparvareporareew |
| Ifiiskndlyhedoholetttnoownanonwnlenhsd,heholdbettetgarereporresauleahisffec('dotatemttottcrsenee.gwn').holelenh,idh nknttruttgewoown | inelisaiontmra | |
| Diagrams | Apiadion(ihtettproprmapsansecsw)flesdbulaioninholdtattertsscaans ocepsubeincludedforigificadisctanysnnoverybeingdTheholdincludebutetreporsesu,belimidlaniewfdrillholettetonoapvollarlociondiaionlttetcoasanapproprsecaiewvs. | A(laniew)hoingitionfthedrillholesd gdticdataisincludedinthet.mappvswposoanrounmagnerepor |
| Balandceintreporg | fWheheiveinglltrecomprensreporoaExlorionRelisicable,ttsttpasunopracfiveingbohlowdtatttrepresenreporoanhighded/oidhsholdbetgrasanrwsuficedidisleadingingttotpracavomreporoExlorionReltts.pasu | ThedohelfrohefirsholefhedhafdrillingLodettsttstttreporcumenassayresumoseconpseograwleltsfrodjt rkstsidetheinelisedbodytincluded.sampresumaacenocoumraareno |
| Criiater | Exlaniotpan | Cotammenry |
|---|---|---|
| Ohetrbsivetatsuniolotexprandata | Oheloriondaif mingful adttta,rexpaeannial,holdbedincluding(butertetmasureporlimid)logicalbsionttetotnogeooervas;:hyicallheicalts;geopssurveyresugeocmlbulklesizedts;surveyressampsanu–hodflluricalttretmt;tatestmeoaenmeglbulkdeidwts;ty,terresunsgrouna,hnicaldkhaisicstectertgeoanroccrac;ialdeleiouinaingtenttertamtposorconbstansuces. | All mingful eloriondaingheBuPrjhabediheiniouttattteteanxpaconcernnawanoecsenreporerprevststotheASX(bySierMiningLimited)isinthet rttohichthisdixisttahed.reporraorcurreneporwappenac |
| Fuhektrr wor | Thedlef plandfurheturtnaeanscaonerk(forlalionteststertenworegaexssordehionlarlettenteptpexssorge-scas-oudrilling).Diaglealyhighlighinghefttramscrareaso | Thehedisehelfheiniial sdrillingBuThelttat sttstttttsacreporummarsresuocoprogramanawan.resuuidedingdfuthedrillingistedbuthatbelandindetail atareconsreveryencouraganrrwarransnoenpnehisttasge. |
| ibleionincludingheintentpossexss,malogicaliniondfudrillingtertatturgeopres aneidedhisinforionistttareas,provmanoiallyiivetcommercsens |
Rule 5.5
Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10, 01/05/2013
| Name of entity | |||||
|---|---|---|---|---|---|
| RTG Mining Inc | |||||
| ABN | Quarter ended ("current quarter") | ||||
| 70 164 362 850 | 31 March 2015 | ||||
| Consolidated | statementofcashflows | ||||
| Year to date | |||||
| Cash flows related to operating activities | Curent quarter$US | (three months)$US | |||
| 1.1 | debtors | Receipts from product sales and related | ‐ | ‐ | |
| 1.2 | Payments for | (a) exploration & evaluation(b) development | (112,431)‐ | (112,431)‐ | |
| (c) production(d) administration | ‐(555,553) | ‐(555,553) | |||
| ‐ business development | (351,209) | (351,209) | |||
| ‐ business development | (351,209) | (351,209) | |
|---|---|---|---|
| 1.3 | Dividends received | ‐ | ‐ |
| 1.4 | Interest and other items of a similar nature | ||
| received | 14 | 14 | |
| 1.5 | Interest and other costs of finance paid | ‐ | ‐ |
| 1.6 | Income taxes paid | ‐ | ‐ |
| 1.7 | Other (provide details if material) | ‐ | ‐ |
| Net Operating Cash Flows | (1,019,179) | (1,019,179) | |
| Cash flows related to investing activities | |||
| 1.8 | Payment for purchases of:(a) prospects | ‐ | ‐ |
| (b) equity investments | ‐ | ‐ | |
| (c) other fixed assets | ‐ | ‐ | |
| 1.9 | Proceeds from sale of:(a) prospects | ‐ | ‐ |
| (b) equity investments | ‐ | ‐ | |
| (c) other fixed assets | ‐ | ‐ | |
| 1.10 | Loans to other entities ‐ associates | (771,811) | (771,811) |
| 1.11 | Loans repaid by other entities | ‐ | ‐ |
| 1.12 | Other | ‐ | ‐ |
| Net investing cash flows | (771,811) | (771,811) | |
| 1.13 | Total operating and investing cash flows | ||
| (carried forward) | (1,790,990) | (1,790,990) |
- See chapter 19 for defined terms.
| 1.13 | Total operating and investing cash flows | ||
|---|---|---|---|
| (brought forward) | (1,790,990) | (1,790,990) | |
| Cash flows related to financing activities | |||
| 1.14 | Proceeds from issues of shares, options, etc. | 8,907,008 | 8,907,008 |
| 1.15 | Proceeds from sale of forfeited shares | ‐ | ‐ |
| 1.16 | Proceeds from borrowings | ‐ | ‐ |
| 1.17 | Repayment of borrowings | ‐ | ‐ |
| 1.18 | Dividends paid | ||
| 1.19 | Other (share issue costs) | (762,000) | (762,000) |
| Net financing cash flows | 8,145,008 | 8,145,008 | |
| Net increase (decrease) in cash held | 6,354,018 | 6,354,018 | |
| 1.20 | Cash at beginning of quarter/year to date | 2,394,974 | 2,394,974 |
| 1.21 | Exchange rate adjustments to item 1.20 | (168,515) | (168,515) |
| 1.22 | Cash at end of quarter | 8,580,477 | 8,580,477 |
Payments to directors of the entity, associates of the directors, related entities of the entity and associates of the related entities
| Curent quarter$US | ||
|---|---|---|
| 1.23 | Aggregate amount of payments to the parties included in item 1.2 | 165,359 |
| 1.24 | Aggregate amount of loans to the parties included in item 1.10 | ‐ |
1.25 Explanation necessary for an understanding of the transactions
Payment of salaries and fees
Non‐cash financing and investing activities
2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows
none
2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest
The joint venture partner at the Mabilo Project is earning up to a 42% interest in the project by contributing to exploration and drilling and management services.
+ See chapter 19 for defined terms.
Financing facilities available
Add notes as necessary for an understanding of the position.
| Amount available | Amount used | ||
|---|---|---|---|
| $US | $US | ||
| 3.1 | Loan facilities | ||
| ‐ | ‐ | ||
| 3.2 | Credit standby arrangements | ||
| ‐ | ‐ |
Estimated cash outflows for next quarter
| $US | ||
|---|---|---|
| 4.1 | Exploration and evaluation | 2,647,000 |
| 4.2 | Development | |
| 4.3 | Production | |
| 4.4 | Administration: | |
| Business Development | 89,000 | |
| General | 708,000 | |
| 3,444,000 | ||
| Total |
Reconciliation of cash
| Reconciliation of cash at the end of the quarter (asshown in the consolidated statement of cash flows)to the related items in the accounts is as follows. | Curent quarter$US | Previous quarter$US | |
|---|---|---|---|
| 5.1 | Cash on hand and at bank | 8,580,477 | 2,394,974 |
| 5.2 | Deposits at call | ‐ | ‐ |
| 5.3 | Bank overdraft | ‐ | ‐ |
| 5.4 | Other (provide details) | ‐ | ‐ |
| Total: cash at end of quarter (item 1.22) | 8,580,477 | 2,394,974 |
#Cash and liquid assets disclosed on Page 1 of the Activities Report includes cash at the end of the quarter plus receivables due to the Company including consideration due as part of the Segilola share sale agreement($1.0M) and Deferred Heap Leach payment ($1.396M).
+ See chapter 19 for defined terms.
| Changesininterestsin | miningtenementsand | petroleumtenements |
|---|---|---|
| ---------------------------------- | ---------------------------- | ------------------------ |
| Tenementreference andlocation | Nature of interest(note (2)) | Interest atbeginningof quarter | Interest atend ofquarter | ||
|---|---|---|---|---|---|
| 6.1 | Interests in miningtenements andpetroleum tenementsrelinquished, reducedor lapsed | ‐ | ‐ | ‐ | ‐ |
| 6.2 | Interests in miningtenements andpetroleum tenementsacquired or increased | EXPA‐0000209‐V RTG's interest is | held through itsinterest in itsassociate entity,Mt LaboExploration andDevelopmentCorporation. | ‐ | 40% |
Issued and quoted securities at end of current quarter
Description includes rate of interest and any redemption or conversion rights together with prices and dates.
| Total number | Number quoted | Issue price persecurity (seenote 3) (cents) | Amount paid upper security (seenote 3) (cents) | ||
|---|---|---|---|---|---|
| 7.1 | Preference+securities(description) | ||||
| 7.2 | Changes duringquarter(a) Increasesthrough issues(b) Decreasesthrough returnsof capital, buy‐backs,redemptions | ||||
| 7.3 | +Ordinarysecurities | 128,763,233 | 128,763,233 | n/a | n/a |
| 7.4 | Changes duringquarter(a) Increasesthrough issues(b) Decreasesthrough returnsof capital, buy‐backs | 16,036,372753,624 | 16,036,372753,624 | A$0.68C$0.66 | A$0.68C$0.66 |
| 7.5 | +Convertibledebtsecurities(description) |
+ See chapter 19 for defined terms.
Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report
| 7.6 | Changes duringquarter(a) Increasesthrough issues(b) Decreasesthroughsecuritiesmatured,converted | ||||
|---|---|---|---|---|---|
| 7.7 | Options | Exercise price | Expiry date | ||
| (description and | |||||
| conversion | 8,784,687 | 8,784,687 | CAD 1.50 | 4 June 2017 | |
| factor) | |||||
| 7.8 | Issued during | ||||
| quarter | |||||
| 7.9 | Exercised | ||||
| during quarter | |||||
| 7.10 | Expired during | ||||
| quarter | |||||
| 7.11 | Debentures | ||||
| (totals only) | |||||
| 7.12 | Unsecured | ||||
| notes (totals | |||||
| only) | |||||
Compliance statement
- 1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 5).
- 2 This statement does give a true and fair view of the matters disclosed.
Sign here: _/s/ Nicholas Day_ Date: .30 April 2015 (Company secretary)
Notes
- 1 The quarterly report provides a basis for informing the market how the entity's activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.
- 2 The "Nature of interest" (items 6.1 and 6.2) includes options in respect of interests in mining tenements and petroleum tenements acquired, exercised or
+ See chapter 19 for defined terms.
lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement or petroleum tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.
- 3 Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities*.*
- 4 The definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report.
- 5 Accounting Standards ASX will accept, for example, the use of International Financial Reporting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.
== == == == ==
+ See chapter 19 for defined terms.