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TALISMAN MINING LIMITED — Capital/Financing Update 2024
Sep 29, 2024
65926_rns_2024-09-29_08f7984f-666e-45e2-9cf4-1661b44033a8.pdf
Capital/Financing Update
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ASX: TLM | 30 September 2024
Talisman commences drilling at Yarindury Porphyry Cu-Au Prospect in NSW
Maiden drilling program to test large geophysical anomalies
Highlights:
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Diamond drilling program commenced.
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Large, km scale, high amplitude magnetic geophysical anomaly to be tested.
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Land access agreement signed and exploration work approved by NSW Department of Primary Industries and Regional Development.
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Yarindury Prospect Exploration Licence (EL9679) covers a large porphyry-style copper-gold target, 30km east of Dubbo in the highly prospective Molong Volcanic Belt, part of Macquarie Volcanic Arc.
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An initial diamond drilling program comprising up to five holes is planned to test the anomalies, scheduled to be completed in the December quarter.
Talisman Mining Limited (ASX: TLM, Talisman) is pleased to advise it has commenced drilling at its granted tenement, EL 9679, named the “Yarindury Prospect”, located 30km east of Dubbo in the Molong Volcanic Belt of the Macquarie Volcanic Arc of central-western NSW. Yarindury contains a number of interpreted porphyry-style magnetic targets with confirmed prospective geology and copper-gold anomalism buried below post mineral cover.
The Yarindury Prospect lies in the same highly prospective geological and mineralised belt as Alkane Resources’ (ASX: ALK) Boda-Kaiser Project (located 20km to the south-east), which contains a Mineral Resource of 8.3Moz of gold and 1.5Mt of copper.[1,3] Newmont’s (NYSE: NEM) world class Cadia copper-gold mine, containing 17 Moz gold and 3.6Mt copper, also lies within the Molong Volcanic Belt, 100 km along strike to the south of the Yarindury Prospect. The rock types and geophysical anomalies at Yarindury are broadly similar to features evident at Cadia[2,3.]
The Yarindury Prospect was previously held by Alice Queen Limited, who completed two diamond drill holes (MEMD0001 and MEMD0002) in JV with Newcrest in 2017. MEMD0001 intersected favourable rock units with weakly anomalous copper and gold mineralisation. However, no drilling has been completed over the largest and strongest amplitude magnetic anomaly on the western boundary of the Molong Volcanic Belt.
Yarindury EL 9679 is illustrated in Figure 1 and Figure 2.
The planned re-commencement of drilling at Durnings will follow the completion of the initial program at Yarindury.
1 See ALK ASX Announcements dated 14 December 2023 and 29 April 2024.
2https://operations.newmont.com/australia/cadia
- The existence of, size and grade of the Mineral Resource Estimates at Boda/Kaiser and Ore Reserves at Cadia does not guarantee that such deposits are discoverable at the Yarindury Prospect and TLM has not done sufficient work yet in order to be able to classify its own MRE at the project.
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==> picture [423 x 502] intentionally omitted <==
Figure 1 – Yarindury Prospect location plan highlighting prospect locations along the Molong Volcanic Belt. Porphyry Cu-Au deposits in the belt include Cadia-Ridgeway, Copper Hill, Junction Reefs and Boda-Kaiser. Other Talisman tenure in the area (to the north, south and east of Parkes in the Junee Narromine Volcanic Belt) is also shown.
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Figure 2 – Yarindury Prospect EL 9679 over regional magnetics. The elevated magnetic response in the centre of the image is known as the Molong Volcanic Belt, part of the Macquarie Volcanic Arc. Strong magnetic features within and along the margins of the belt are excellent exploration targets for porphyry and intrusion related CuAu deposits.
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Geology and Mineralisation
The Yarindury Prospect is located along the northernmost extension of the Molong Volcanic Belt where it contacts and underlies post-mineral Surat Basin Mesozoic-age sediments.
The Molong Volcanic Belt comprises a number of distinctive, interleaved, magnetic and non-magnetic geophysical strips that can be traced for more than 200km to the south. Talisman’s objective at Yarindury is to explore the Molong Volcanic Belt basement elements for Tier 1 porphyry or other intrusion related copper and gold deposits.
The Molong Volcanic Belt comprises:
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i) the Ordovician-age volcanic rock package which contains a number of high-level intrusions marked by high-amplitude magnetic geophysical responses; and
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ii) the adjacent, lesser magnetic Silurian-Devonian age sediments intruded locally by discrete, elliptical-shaped, younger and less prospective magnetic granite batholiths.
Regionally, the Molong Volcanic Belt hosts the world-class Cadia porphyry Cu-Au system (17Moz Au and 3.6Mt Cu[2,3] ), located 100km to the south; the recently discovered 8.5Moz Au and 1.5Mt Cu[1,3] , Boda-Kaiser deposits of Alkane Resources, located 20km south-east of Yarindury and a number of other significant porphyry-style prospects. These major porphyry deposits all occur within or around the margins of complex, high-amplitude, sub-volcanic intrusion bearing, magnetic nodes that occur along the belt.
In the south-west corner of the Yarindury licence, on the structurally complex, western margin of the Molong Volcanic Belt, lies a large ~2km diameter, high amplitude, annular magnetic anomaly (Figure 2). This anomaly is the primary exploration target within the Yarindury Prospect area. Annular magnetic anomalies are classically associated with Cu-Au stock-work mineralised aureoles developed around less magnetic and/or altered, vertical, porphyry pipe intrusions.
The highly prospective regional setting and characteristics of this large magnetic anomaly presents a potential high-quality buried porphyry Cu-Au target. In addition, a number of other magnetic anomalies are also present within the licence (Figure 2).
Project Background
Previous explorers include Newcrest Mining in JV with Alice Queen Limited and Golden Cross Resources.
Figures 2 and 3 shows where in 2017 Newcrest/Alice Queen drilled two vertical diamond holes MEMD0001 (total depth 414.2m, depth to basement 215m) and MEMD0002 (total depth 363.4m, depth to basement 250m) targeting magnetic anomalies interpreted as potential porphyry intrusion style mineralisation. The holes intersected altered volcanic rocks of likely Ordovician age with weakly anomalous copper mineralisation. Newcrest/Alice Queen planned but did not drill the high amplitude magnetic feature at Yarindury which Talisman is now targeting.
In 2008, Golden Cross, using lower resolution magnetic survey data, targeted the western margin of the Yarindury anomaly with a single drill hole (GCYAR001). The hole did not intersect basement rocks and was abandoned after encountering 252m of barren Mesozoic sediments. See Figure 3.
- 1 See ALK ASX Announcements dated 14 December 2023 and 29 April 2024.
1https://operations.newmont.com/australia/cadia
- The existence of, size and grade of the Mineral Resource Estimates at Boda/Kaiser and Ore Reserve Estimate at Cadia does not guarantee that such deposits are discoverable at the Yarindury Prospect and TLM has not done sufficient work yet in order to be able to classify its own MRE at the project.
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==> picture [483 x 377] intentionally omitted <==
Figure 3 – Yarindury target over processed magnetics image. Gravity contours are illustrated in white lines. Proposed TLM drill hole locations illustrated by orange circles. The 2.0 km diameter strong magnetic feature along the western margin of the Molong Volcanic Belt is the primary target. Historical drill hole, GCYAR001 (blue circle) did not penetrate the overlying barren sediments.
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Yarindury – Work Plan and Drill Testing
Talisman Mining has signed a landholder access agreement and received all necessary exploration work approvals from the NSW Department of Primary Industries and Regional Development.
The proposed exploration program consists of five diamond drill holes targeted within the large geophysical feature. Additional diamond drilling will be undertaken if geological prospectivity and presence of mineralisation is confirmed.
Drilling has commenced and is scheduled to be completed in the December quarter.
Management Comment
Talisman’s Managing Director, Andrew Munckton, said: “The commencement of exploration drilling of the Yarindury Prospect offers an exciting new addition to our exploration portfolio.
“At a time of strengthening copper and gold prices around the world, this new project offers exploration exposure to the Tier 1 Molong Volcanic Belt of the Macquarie Volcanic Arc which hosts several major porphyry style copper-gold deposits. Yarindury’s location and its comparison with the other geophysically similar deposits in the belt clearly demonstrates the quality of the opportunity.
“The initial diamond drilling program has commenced, following receipt of NSW government approvals. Importantly, this initial phase of drilling will provide us with detailed geological context as to the style and scale of potential copper-gold mineralisation associated with the large geophysical anomaly.
“We’re greatly looking forward to the drilling of this target and will update the market once drilling results have been received.”
“The porphyry copper-gold Yarindury Prospect is complementary to the advanced poly-metallic exploration at our Cobar Basin-hosted Durnings Project. The recent exciting exploration results at Durnings will be followed up as quickly as possible once access to the project is re-established following heavy rainfall in late June and the program of drilling at Yarindury currently underway has been completed.”
–– Ends ––
For further information, please contact:
Andrew Munckton - Managing Director
+61 4 3563 5598
Nicholas Read (Media inquiries)
+61 4199 29046
This release has been authorised by the Board of Talisman Mining Limited.
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Table 1: Drill-hole information summary - Yarindury
Details and coordinates of historical drill holes relevant to this release.
| Company | Year Drilled |
Hole ID | Hole Type |
Easting MGA |
Northing MGA |
RL | Dip | Azimuth | EOH Depth (m) |
|---|---|---|---|---|---|---|---|---|---|
| Clancey Exploration Ltd | 2008 | SRC001 | RC | 688298 | 6453398 | 399 | -90 | 0 | 156 |
| Newcrest Mining Ltd | 2017 | MEMD0001 | DD | 685638 | 6437633 | 340 | -89.2 | 76.76 | 414.2 |
| Newcrest Mining Ltd | 2017 | MEMD0002 | DD | 687974 | 6439970 | 360 | -90 | 0 | 363.4 |
| Golden Cross Resources | 2008 | CGYAR001 | RC | 682572 | 6435084 | 385 | -90 | 0 | 252 |
About Talisman Mining
Talisman Mining Limited (ASX: TLM) is an Australian mineral development and exploration company. The Company’s aim is to maximise shareholder value through exploration, discovery and development of complementary opportunities in base and precious metals.
Talisman has secured tenements in the Cobar/Mineral Hill region in Central NSW through the grant of its own Exploration Licenses and through a joint venture agreement. The Cobar/Mineral Hill region is a richly mineralised district that hosts several base and precious metal mines including the CSA, Tritton, and Hera/Nymagee mines. This region contains highly prospective geology that has produced many long-life, high-grade mineral discoveries. Talisman has identified several areas within its Lachlan Cu-Au Project tenements that show evidence of base and precious metals endowment which have had very little modern systematic exploration completed to date. Talisman believes there is significant potential for the discovery of substantial base metals and gold mineralisation within this land package and is undertaking active exploration to test a number of these targets.
Talisman also has secured access to over 1040 km2 of highly prospective tenure in South Australia’s Gawler Craton known as the Mabel Creek Project. Mabel Creek is prospective for large scale Iron Oxide Copper Gold (IOCG) deposits and intrusion related rare earths and battery metals mineralisation. Mable Creek is surrounded by similar tenure owned and being actively explored by Australia’s biggest resource companies including BHP, Rio Tinto and FMG.
Competent Person’s Statement
Information in this announcement that relates to Exploration Results and Exploration Targets is based on, and fairly represents information and supporting documentation compiled by Dr Tim Sharp, who is a member of the Australasian Institute of Geoscientists. Dr Sharp is a full-time employee of Talisman Mining Ltd and has sufficient experience which is relevant to the style of mineralisation and types of deposits under consideration and to the activities 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”. Dr Sharp has reviewed the contents of this announcement and consents to the inclusion in this announcement of all technical statements based on his information in the form and context in which they appear.
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Forward-Looking Statements
This ASX release may include forward-looking statements. These forward-looking statements are not historical facts but rather are based on Talisman Mining Ltd.’s current expectations, estimates and assumptions about the industry in which Talisman Mining Ltd operates, and beliefs and assumptions regarding Talisman Mining Ltd.’s future performance. Words such as “anticipates”, “expects”, “intends”, “plans”, “believes”, “seeks”, “estimates”, “potential” and similar expressions are intended to identify forward-looking statements. Forwardlooking statements are only predictions and are not guaranteed, and they are subject to known and unknown risks, uncertainties, and assumptions, some of which are outside the control of Talisman Mining Ltd. Past performance is not necessarily a guide to future performance and no representation or warranty is made as to the likelihood of achievement or reasonableness of any forward-looking statements or other forecast. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, recipients are cautioned not to place reliance on forward looking statements. Any forwardlooking statements in this announcement speak only at the date of issue of this announcement. Subject to any continuing obligations under applicable law and the ASX Listing Rules, Talisman Mining Ltd does not undertake any obligation to update or revise any information or any of the forward-looking statements in this announcement or any changes in events, conditions, or circumstances on which any such forward looking statement is based.
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Appendix 2
JORC Tables Section 1 & 2
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections)
| Criteria | JORC Code explanation | Commentary |
| Sampling techniques |
• Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down-hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling. • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. • Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3kg was pulverised to produce a 30 g charge for fire assay’). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information. |
• Newcrest Diamond Holes MEMD0001 & MEMD0002: Half core samples intervals varied from 0.2 to 2 m in length but were predominantly aligned to 2m intervals. 3kg was pulverised to produce a 50g charge for analysis by fire assay (FA50/MS) and multi-element 4-acid digestion (4AMS). Samples were prepared by Newcrest Laboratory Services, Orange and dispatched to Intertek Laboratories, Perth for analysis. • Golden Cross Resources RC Hole GCYAR001: No samples collected as basement magnetic target was not intersected and hole was abandoned within Mesozoic sediments. • Clancy Exploration RC Hole SCR0001: Samples were collected as 10m composites, unless encouraging signs were observed, then samples were 1m composites. A total of 11 samples were submitted for assay to ALS Orange. |
| Drilling techniques |
• Drill type (e.g. core, reverse circulation, open- hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc). |
• Newcrest Diamond Holes MEMD0001 & MEMD0002: Diamond holes drilled by Deepcore Australia Pty Ltd using a Moorooka-mounted LF130 core rig using triple tube drilling equipment with precollars completed using mud-rotary. All drill core was orientated where possible using the Reflex ACT III RD downhole Unit. Drill hole surveys were conducted using a Reflex EZ-Trac instrument with appropriate routine QC and calibration. • Golden Cross Resources RC Hole GCYAR001: RC holes drilled to 252m by Tom Browne Drilling. Vertical hole. • Clancy Exploration RC Hole SCR0001: RC holes drilled to 156m by Techdrill Pty Ltd. Vertical hole. |
| Drill sample recovery |
• Method of recording and assessing core and chip sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the samples. |
• Newcrest Diamond Holes MEMD0001 & MEMD0002: Core recovery was generally greater than 95%. |
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| • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. |
• Golden Cross Resources RC Hole GCYAR001: RC recovery details were not included in historical report. • Clancy Exploration RC Hole SCR0001: RC recovery details were not included in historical report. |
|
| Logging | • Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography. • The total length and percentage of the relevant intersections logged. |
• Newcrest Diamond Holes MEMD0001 & MEMD0002: Geological logging was both qualitative and quantitative and recorded lithology, mineralisation, alteration, mineralogy, weathering, structural characteristics and other physical characteristics of the core. • Golden Cross Resources RC Hole GCYAR001: Geological logging was both qualitative and quantitative and recorded lithology of Mesozoic sediments. No basement was intersected. Hole was abandoned in Mesozoic sediments. • Clancy Exploration RC Hole SCR0001: Geological logging was both qualitative and quantitative and recorded lithology and recovery of Mesozoic sediments. No basement was intersected. |
| Sub- sampling techniques and sample preparation |
• If core, whether cut or sawn and whether quarter, half or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry. • For all sample types, the nature, quality and appropriateness of the sample preparation technique. • Quality control procedures adopted for all sub- sampling stages to maximise representivity of samples. • Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling. • Whether sample sizes are appropriate to the grain size of the material being sampled. |
• Newcrest Diamond Holes MEMD0001 & MEMD0002: Half core samples were prepared by Newcrest Laboratory Services. DD samples were dried, crushed, split and pulverised to produce 50g subsample for analysis by fire assay (FA50/MS) and multi-element 4-acid digestion (4AMS). QAQC protocols for all DD sampling involved the use of Certified Reference Material (CRM) as assay standards. • Golden Cross Resources RC Hole GCYAR001: No samples collected as basement was not intersected and hole was abandoned in Mesozoic sediments. • Clancy Exploration RC Hole SCR0001: Samples were collected as 10m composites, unless encouraging signs were observed, then samples were 1m composites. A total of 11 samples were submitted for assay to ALS Orange. QAQC protocol details were not included in historical report. |
| Quality of assay data and laboratory tests |
• The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. • For geophysical tools, spectrometres, handheld XRF instruments, etc, the parametres used in determining the analysis including instrument make and model, reading times, |
• Newcrest Diamond Holes MEMD0001 & MEMD0002: QAQC protocols included Duplicates inserted at 1 in 20 and Certified Reference Standard inserted at 1:20. • Golden Cross Resources RC Hole GCYAR001: No samples collected as basement wasn’t intersected and hole was abandoned in Mesozoic sediments. |
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| calibrations factors applied and their derivation, etc. • Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established. |
• Clancy Exploration RC Hole SCR0001: Sample quality control details were not included in historical report. |
|
| Verification of sampling and assaying |
• The verification of significant intersections by either independent or alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data. |
• Newcrest Diamond Holes MEMD0001 & MEMD0002: No significant intercepts recorded. All primary logging, sampling and assay data is available for download from the NSW DIGS website as text files. • Golden Cross Resources RC Hole GCYAR001: No samples collected as basement wasn’t intersected and hole was abandoned in Mesozoic sediments. All primary logging data is available for download from the NSW DIGS website as text files. • Golden Cross Resources RC Hole GCYAR001: No significant intercepts recorded. All primary logging data is available for download from the NSW DIGS website as text files. |
| Location of data points |
• Accuracy and quality of surveys used to locate drill-holes (collar and down- hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • Specification of the grid system used. • Quality and adequacy of topographic control. |
• Newcrest Diamond drill collar locations collected using hand held GPS. • Clancy and Golden Cross RC drill collar locations collected using DGPS. • The coordinate system used is the Geocentric Datum of Australia (GDA) 1994. All coordinates are in the Map Grid of Australia zone 55 (MGA), Universal Transverse Mercator. |
| Data spacing and distribution |
• Data spacing for reporting of Exploration Results. • Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. • Whether sample compositing has been applied. |
• Historical vertical holes drilled to test magnetic anomalies in basement. |
| Orientation of data in relation to geological structure |
• Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. • If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. |
• Historical vertical holes drilled to test magnetic anomalies in basement. |
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| Sample security |
• The measures taken to ensure sample security. |
• Newcrest diamond holes MEMD001 & MEMD002: Security measure details were not included in historical report. • Golden Cross Resources RC Hole GCYAR001: No samples collected as basement wasn’t intersected and hole was abandoned in Mesozoic sediments. • Clancy Exploration RC Hole SCR0001: Security measure details were not included in historical reports. |
| Audits or reviews |
• The results of any audits or reviews of sampling techniques and data. |
• No external audits or reviews of the sampling techniques and data have been reported. |
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section)
| Criteria | JORC Code explanation | Commentary |
| Mineral tenement and land tenure status |
• Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. • The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area. |
• EL9679 is held 100% by Haverford Holdings a 100% owned subsidiary of Talisman Mining. • The tenement is in good standing and there are no existing known impediments to exploration or mining. |
| Exploration done by other parties |
• Acknowledgment and appraisal of exploration by other parties. |
• The Yarindury Copper-Gold Project has been subject to exploration by several previous explorers including Golden Cross Resources, Alice Queen Ltd and Newcrest Mining Ltd. • Exploration work has included diamond, RC drilling, geological mapping, geological interpretation and geophysics (airborne magnetics, ground gravity). |
| Geology | • Deposit type, geological setting and style of mineralisation. |
• The Yarindury Copper-Gold Project lies within the Molong Volcanic Belt of the Lachlan Fold belt in NSW. • The Yarindury Copper-Gold Project is considered prospective for Cu-Au porphyry style mineralisation. |
| Drill-hole Information |
• A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill-holes: • easting and northing of the drill-hole collar |
• Historical drilling has been appropriately referenced to source information (see Table 1 and historical reports below). |
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| • elevation or RL (Reduced Level – elevation above sea level in metres) of the drill-hole collar • dip and azimuth of the hole • down hole length and interception depth • hole length. • If the exclusion of this information is justified on the basis that the information is not material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case. |
Historical Drilling Report References (NSW Resources DIGS Site) • Newcrest Ltd 2018 First Annual Exploration Report on EL8565 (RE0010608). • Golden Cross Resources 2008 Second and Final Annual Exploration Report on EL6724 (R00030990). • Clancy Exploration Ltd 2009 Third and Third Annual Reports for the Period EL6536 (R00037963). |
|
| Data aggregation methods |
• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually material and should be stated. • Where aggregate intercepts incorporate short lengths of high-grade results and longer lengths of low-grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. • The assumptions used for any reporting of metal equivalent values should be clearly stated. |
• No significant intercepts reported. |
| Relationship between mineralisati on widths and intercept lengths |
• These relationships are particularly important in the reporting of Exploration Results. • If the geometry of the mineralisation with respect to the drill-hole angle is known, its nature should be reported. • If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’). |
• No significant mineralisation was identified in any of the historical holes. |
| Diagrams | • Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill-hole collar locations and appropriate sectional views. • |
• Appropriate maps with scale are included within the body of the accompanying document. |
| Balanced reporting |
• Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results. |
• All relevant data is reported and provides an appropriate representation of the results. • The accompanying document is considered to represent a balanced report. |
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| Other substantive exploration data |
• Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances. |
Geophysical Data • All historical geophysical data was reviewed and interpreted by John Donohue, Principal Geophysicist from Geo-Discovery Group. Airborne magnetics • Grid filtering and enhancements was undertaken on NSW GovernmentDubbo 1991 (400 m line spaced) Survey andNewcrestMendoran (100 m spaced) 2017 survey. 3D smooth modelling was completed using Geosoft’s Voxi mag modelling program using Magnetic Vector Inversion (MVI) and normal induction modes. MVI modes accommodated remanence effects. Selected 2.5D modelling of (NSSF) profile grid data in Model Vision. • To provide an analogue for the Yarindury anomaly, 3D MVI Mag Modelling was undertaken across Cadia/Ridgeway Complex using 1984 RGC 200m line spaced airborne (pre-dating development) survey data and topographic SRTM data (postdating development). Ground Gravity • Gridding and high pass filtering of a 2017 ground gravity (1km line spacing and 200m station spacing) acquired by Atlas Geophysics for Newcrest. • All meaningful and material information is reported. |
| Further work | • The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling). • Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive. |
• Planned future work at the Yarindury Copper-Gold Project if warranted would include follow up Diamond drilling and geophysical surveys. |
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