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VERITY RESOURCES LIMITED — Capital/Financing Update 2015
Jan 12, 2015
66020_rns_2015-01-12_8ffc4875-3826-440a-a75b-06f08a0a9dc6.pdf
Capital/Financing Update
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ABN
96
122
995
073
==> picture [173 x 50] intentionally omitted <==
ASX
Code: BML
TO: COMPANY
ANNOUNCEMENTS
OFFICE ASX
LIMITED
DATE: 13
JANUARY
2015
**FOR
IMMEDIATE
RELEASE**
**__________ HIGH
GRADE
NICKEL
CONFIRMED
IN
NEW DISCOVERY
AT
MAIBELE
NORTH**
**FINAL
BATCH
OF
ASSAY
RESULTS
RECEIVED**
-
New
zone-‐Hole
MARD0094
contains
a
significant
zone
of Ni+Cu+Au+4PGE
(Pt,
Pd,
Rh,
Ru)
mineralisation
at
400m depth,
some
250m
east
of
previously
know
mineralisation. -
Potential
zone
extends
for
16km
strike
length
and
at
depth. -
**Drill
program
for
2014
completed
with
results
of
up
to
25m @
1.65%
Ni - 0.54%Cu
-
PGEs
from
~94m.** -
Down
hole
EM
to
commence
to
select
additional
drilling targets
for
2015. -
Resource
calculation
underway.
Botswana
Metals
Limited
(“BML”)
is
pleased
to
advise
that
the
final
batch
of
assay
results from
the
extensive
drilling
campaign
at
Maibele
North
have
been
received.
These
results contain
assays
of
the
new
discovery
zone
intersected
in
hole
MARD0094
(as
reported
to ASX
on
20
November
2014).
**Highlights
of
the
final
batch
of
assay
results
includes:**
MARD0094 :
-
6.82m
@
0.75%
Ni,
0.25%
Cu,
485
ppm
Co,
0.06g/t
Au,
0.54g/t
4PGEs -
Including
-
1.25m
@
2.05%
Ni,
0.53%
Cu,
1,272
ppm
Co,
0.07g/t
Au,
1.35
g/t
4PGEs -
o0.10m
@
1.64%
Ni,
1.67%
Cu,
1,040
ppm
Co,
0.06g/t
Au,
1.25g/t
4PGEso0.21m
@
2.27%
Ni,
0.58%
Cu,
1,356
ppm
Co,
0.10g/t
Au,
1.62g/t
4PGEso0.19m
@
1.62%
Ni,
0.30%
Cu,
1,046
ppm
Co,
0.05g/t
Au,
1.40g/t
4PGEs
Botswana
Metals
Limited Suite
3,
16
Cotham
Road,
Kew,
Victoria
3101 P:
+61
3
9855
1885;
F:
+61
3
9855
2885 Email
[email protected] www.botswanametals.com.au
ABN
96
122
995
073
==> picture [173 x 50] intentionally omitted <==
MADD0092 :
- 0.55m
@
2.18%
Ni,
0.72%
Cu,
1,186
ppm
Co,
0.10g/t
Au,
1.62g/t
4PGEs
MADD0071 :
- 0.12m
@
0.70%
Ni,
0.49%
Cu,
452
ppm
Co,
0.10g/t
Au,
1.06g/t
4PGEs
(all
widths
are
down
hole
thicknesses)
MARD0094
The
result
from
MARD0094
is
highly
significant
because
it
confirms
the
continuation
of
high grade
Ni+Cu
mineralisation
along
strike
to
the
east
of
the
previously
known
mineralisation and
at
a
depth
previously
untested.
This
new
zone
is
untested
to
the
east,
west
and
at
depth and
indicates
that
considerable
potential
exists
to
add
additional
resources
to
the mineralisation
already
defined
at
Maibele
North.
The
intersection
in
MARD0094
was
achieved
by
testing
an
off
hole
down-‐hole
EM
conductor and
further
DHEM
will
be
undertaken
on
MARD0094
and
other
deep
holes
at
the
project
to guide
the
next
phase
of
drilling
in
2015.
Hole
MADD0094
intersected
the
~200m
long
conductor
at
vertical
depth
of
400m
(~460m down
hole).
The
target
was
indicated
from
down
hole
EM
surveying
in
hole
MADD0025
that showed
an
off
hole
conductor
at
approximately
350m
vertical
depth
with
a
dip
extent
of ~200m.
MADD0094
appears
to
have
intersected
the
conductor
approximately
50m
below the
modelled
top
and
a
further
150m
remains
untested
below
MADD0094.
Above MARD0094
and
MADD0025
a
moderate
strength
TDEM
conductor
that
models
with
a
200m dip
extent
from
~100m
to
~300m
vertical
depth
remains
untested.
This
target
has
been modelled
for
a
further
600m
east
of
MADD0025
/
MARD0094.
The
Maibele
North
nickel-‐mineralised
trend
has
now
been
defined
over
a
strike
length
of
at least
2km
that
includes **AIRSTRIP,
MAIBELE
NORTH
&
MAIBELE
NEW
ZONE** and
remains open
to
the
east,
west
and
at
depth.
Figure
1
indicates
the
potential
16km
anomalous
zone
where
nickel
has
been
intersected
at Airstrip
Copper,
Maibele
North,
Maibele
new
intercept
(hole
84)
and
VTEM
anomaly
10830a. Within
this
zone
several
VTEM
conductors
(10780a,
10830a,
Maibele
Extension
and Mashambe)
require
further
testing.
Botswana
Metals
Limited Suite
3,
16
Cotham
Road,
Kew,
Victoria
3101 P:
+61
3
9855
1885;
F:
+61
3
9855
2885 Email
[email protected] www.botswanametals.com.au
==> picture [173 x 50] intentionally omitted <==
ABN
96
122
995
073
==> picture [416 x 222] intentionally omitted <==
Figure
1:
Regional
perspective
view
from
above,
looking
northeast,
of
the
linear
horizon along
which
the
Maibele
North-‐Airstrip
mineralised
trend
lies.
Background
image
is
VTEM db/dt
Tau
and
shows
numerous
prominent
conductive
anomalies
along
the
horizon. Sulphide
Ni
mineralisation
has
been
intersected
at
Airstrip,
Maibele
North
+
Maibele
new zone
and
conductor
10830a.
==> picture [417 x 236] intentionally omitted <==
Figure
2:
3D
long
Section,
looking
northwest
showing
the
modelled
ultramafic
body
and coincident
3D
conductor
models
from
ground
TDEM
surveys.
Drill
hole
MARD0094
is
shown intersecting
the
off-‐hole
conductor.
No
drill
holes
exist
between
MARD0094
and
the
extents of
the
current
drill
program
or
east
into
either
the
TDEM
or
DHEM
conductors.
Botswana
Metals
Limited Suite
3,
16
Cotham
Road,
Kew,
Victoria
3101 P:
+61
3
9855
1885;
F:
+61
3
9855
2885 Email
[email protected] www.botswanametals.com.au
==> picture [173 x 50] intentionally omitted <==
ABN
96
122
995
073
==> picture [33 x 239] intentionally omitted <==
----- Start of picture text -----
0m
-‐250m
-‐500m
----- End of picture text -----
Figure
3:
Cross
section,
looking
northeast,
through
recently
completed
MARD0094
showing the
position
of
modelled
conductors
and
the
coincident
sulphide
intersection
at
460m
down hole
(~400m
vertical
depth)
==> picture [417 x 244] intentionally omitted <==
Botswana
Metals
Limited Suite
3,
16
Cotham
Road,
Kew,
Victoria
3101 P:
+61
3
9855
1885;
F:
+61
3
9855
2885 Email
[email protected] www.botswanametals.com.au
==> picture [173 x 50] intentionally omitted <==
ABN
96
122
995
073
Figure
4:
Collar
Plan
of
all
holes
from
the
current
drill
program.
The
shaded
pink
shape represent
the
3D
modelled
body
of
sulphide
mineralisation
==> picture [428 x 233] intentionally omitted <==
Figure
5:
Long
Section,
looking
northwest,
showing
nickel
grade
distribution
at
Maibele North
and
Airstrip
Copper
and
the
position
of
pierce
points
from
the
recent
drill
program (red
dots).
Note
the
position
of
the
intersection
in
MARD0094
some
250m
down
plunge
of the
previously
easterly-‐most
intersection.
MARD0094
is
the
deepest
intersection
at
Maibele North
to
date.
==> picture [417 x 238] intentionally omitted <==
Botswana
Metals
Limited Suite
3,
16
Cotham
Road,
Kew,
Victoria
3101 P:
+61
3
9855
1885;
F:
+61
3
9855
2885 Email
[email protected] www.botswanametals.com.au
==> picture [173 x 50] intentionally omitted <==
ABN
96
122
995
073
Figure
6:
3D
view,
looking
north,
showing
the
modelled
sulphide
body
(pink
shape)
and
drill traces
from
the
current
drill
program.
Red
shapes
on
drill
traces
indicate
sulphide
percent down
hole.
==> picture [453 x 220] intentionally omitted <==
Figure
7:
Photograph
of
sulphide
intersection
from
MARD0094.
Table
1:
All
Significant
intercepts
from
the
recently
completed
drill
program
| Hole ID | From | Down Hole | Ni | Cu | Co | Au | Pt | Pd | Rh | Ru | Total | Comment | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (m) | Thick.(m) | % | % | ppm | g/t | g/t | g/t | g/t | g/t | PGE | ||||||||||||||
| MADD0057 | 94.26 | 26.43 | 1.65 | 0.54 | 891 |
0.14 | 0.03 | 0.59 | 0.13 | 0.24 | 0.99 | Disseminated and | ||||||||||||
| massive sulphide | ||||||||||||||||||||||||
| Incl. | 94.26 | 6.74 | 2.58 | 0.90 | 1417 | 0.10 | 0.07 | 1.03 | 0.22 | 0.46 | 1.78 | Massive sulphide | ||||||||||||
| 105.00 | 1.50 | 1.83 | 0.59 | 1040 | 0.11 | 0.01 | 0.89 | 0.18 | 0.30 | 1.38 | Massive sulphide | |||||||||||||
| 110.86 |
9.57 |
2.27 |
0.71 |
1169 |
0.25 |
0.01 |
0.66 |
0.14 |
0.26 |
1.07 |
Massive sulphide |
|||||||||||||
| MADD0058 | 67.88 | 29.12 | 0.90 | 0.40 | 526 |
0.12 | 0.11 | 0.41 | 0.05 | 0.06 | 0.63 | Disseminated and | ||||||||||||
| massive sulphide | ||||||||||||||||||||||||
| Incl. | 67.88 | 1.81 | 2.52 | 1.75 | 1451 | 0.41 | 0.03 | 1.17 | 0.12 | 0.13 | 1.45 | Massive Sulphide | ||||||||||||
| 75.16 | 1.15 | 1.79 | 0.55 | 1036 | 0.09 | 1.73 | 0.51 | 0.07 | 0.08 | 2.39 | Massive Sulphide | |||||||||||||
| 84.40 | 1.40 | 1.58 | 0.13 | 904 |
0.06 | 0.00 | 0.61 | 0.05 | 0.06 | 0.72 | Massive Sulphide | |||||||||||||
| 93.50 |
1.43 |
2.93 |
0.47 |
1392 |
0.07 |
0.02 |
0.85 |
0.17 |
0.31 |
1.35 |
Massive Sulphide |
|||||||||||||
| MADD0059 | 100.00 | 19.00 | 0.73 | 0.29 | 565 |
0.09 | 0.34 | 0.34 | 0.04 | 0.05 | 0.77 | Disseminated and | ||||||||||||
| massive sulphide | ||||||||||||||||||||||||
| Incl. | 102.33 | 0.97 | 2.72 | 0.43 | 1373 | 0.07 | 0.03 | 0.92 | 0.19 | 0.13 | 1.27 | Massive Sulphide | ||||||||||||
| 109.44 | 0.78 | 1.84 | 2.11 | 2155 | 0.40 | 5.04 | 2.51 | 0.16 | 0.30 | 8.01 | Massive Sulphide | |||||||||||||
| 112.64 |
0.95 |
1.89 |
0.73 |
971 |
0.10 |
0.04 |
0.88 |
0.04 |
0.00 |
0.96 |
Massive Sulphide |
Botswana
Metals
Limited Suite
3,
16
Cotham
Road,
Kew,
Victoria
3101 P:
+61
3
9855
1885;
F:
+61
3
9855
2885 Email
[email protected] www.botswanametals.com.au
==> picture [173 x 50] intentionally omitted <==
ABN
96
122
995
073
Hole ID |
From | Down Hole | Ni | Cu | Co | Au | Pt | Pd | Rh | Ru | Total | Comment | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (m) | Thick.(m) | % | % | ppm | g/t | g/t | g/t | g/t | g/t | PGE | |||||||||||||
| MADD0060 | 104.55 | 5.45 | 1.00 | 0.73 | 416 | 0.09 | 0.21 | 0.31 | 0.06 | 0.08 | 0.66 | Semi Massive | |||||||||||
| Sulphide | |||||||||||||||||||||||
| incl. | 104.55 | 1.21 | 1.69 | 0.24 | 1043 | 0.08 | 0.04 | 0.64 | 0.19 | 0.28 | 1.15 | Massive Sulphide | |||||||||||
| 106.04 | 0.96 | 0.34 | 3.22 | 217 | 0.12 | 0.07 | 0.31 | 0.06 | 0.03 | 0.47 | Semi-massive | ||||||||||||
| sulphide | |||||||||||||||||||||||
| and | 113.70 | 0.56 | 0.84 | 0.25 | 321 | 0.06 | 2.18 | 0.31 | 0.03 | 0.00 | 2.52 | Semi-massive | |||||||||||
| sulphide |
|||||||||||||||||||||||
| MADD0061 | 91.34 | 2.66 | 0.50 | 0.10 | 293 | 0.06 | 0.04 | 0.51 | 0.03 | 0.13 | 0.71 | Semi-massive | |||||||||||
| sulphide | |||||||||||||||||||||||
| MADD0062 | 149.04 | 1.02 | 2.05 | 0.63 | 1099 | 0.07 | 0.05 | 0.89 | 0.18 | 0.28 | 1.40 | Massive Sulphide | |||||||||||
| and | 153.20 | 0.85 | 0.89 | 0.30 | 544 | 0.05 | 0.10 | 0.34 | 0.09 | 0.07 | 0.60 | Semi-massive | |||||||||||
| sulphide | |||||||||||||||||||||||
| MADD0063 | 171.57 | 1.27 | 1.98 | 0.17 | 1079 | 0.05 | 0.06 | 0.72 | 0.07 | 0.09 | 0.94 | Semi-massive | |||||||||||
| sulphide | |||||||||||||||||||||||
| MADD0064 | 233.90 | 1.63 | 0.30 | 0.06 | 272 | 0.04 | 0.00 | 0.16 | 0.00 | 0.00 | 0.16 | Semi-massive | |||||||||||
| sulphide | |||||||||||||||||||||||
| MADD0065 | 19.00 | 3.00 | 0.32 | 0.05 | 255 | 0.04 | 0.00 | 0.08 | 0.00 | 0.00 | 0.08 | Oxide Zone - EOH | |||||||||||
| MADD0066 | 0.00 | 7.00 | 0.44 | 0.17 | 250 | 0.04 | 0.02 | 0.23 | 0.01 | 0.02 | 0.28 | Oxide Zone - EOH | |||||||||||
| MADD0068 | - | - | - | - | - | - | - | - | - | - | - | No sig int | |||||||||||
| MARD0069 | 208.00 | 1.00 | 0.37 | 0.07 | 202 | 0.04 | 0.09 | 0.09 | 0.00 | 0.00 | 0.18 | Semi-massive | |||||||||||
| sulphide | |||||||||||||||||||||||
| MARD0074 | 54.65 | 0.09 | 1.82 | 0.35 | 856 | 0.28 | 0.04 | 0.78 | 0.18 | 0.39 | 1.39 | sulphide stringer | |||||||||||
| MADD0075 | 144.00 | 1.19 | 2.26 | 0.42 | 1072 | 0.19 | 0.42 | 0.73 | 0.02 | 0.07 | 1.24 | semi-massive sulphide |
|||||||||||
| MADD0077 | 44.00 | 6.71 | 0.47 | 0.17 | 230 | 0.06 | 0.07 | 0.17 | 0.01 | 0.02 | 0.27 | Disseminated sulphide |
|||||||||||
| and | 56.70 | 17.12 | 0.60 | 0.19 | 365 | 0.09 | 0.30 | 0.31 | 0.02 | 0.04 | 0.67 | Disseminated sulphide |
|||||||||||
| incl. | 64.12 | 0.49 | 1.79 | 0.13 | 989 | 0.07 | 0.13 | 0.87 | 0.04 | 0.05 | 1.09 | Massive Sulphide | |||||||||||
| and | 67.15 | 3.59 | 1.02 | 0.19 | 553 | 0.07 | 1.07 | 0.47 | 0.05 | 0.07 | 1.66 | Massive Sulphide | |||||||||||
| and | 73.29 | 0.53 | 1.64 | 0.02 | 784 | 0.04 | 0.02 | 0.60 | 0.05 | 0.14 | 0.81 | Massive Sulphide | |||||||||||
Botswana
Metals
Limited Suite
3,
16
Cotham
Road,
Kew,
Victoria
3101 P:
+61
3
9855
1885;
F:
+61
3
9855
2885 Email
[email protected] www.botswanametals.com.au
==> picture [173 x 50] intentionally omitted <==
ABN
96
122
995
073
Hole ID |
From | Down Hole | Ni | Cu | Co | Au | Pt | Pd | Rh | Ru | Total | Comment | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (m) | Thick.(m) | % | % | ppm | g/t | g/t | g/t | g/t | g/t | PGE | ||||||||||||||
| MADD0078 | 11.53 | 4.76 | 0.07 | 1.57 | 64 | 0.05 | 0.07 | 0.07 | - | - | 0.14 | oxides | ||||||||||||
| and | 91.72 | 0.37 | 2.17 | 0.35 | 1179 | 0.06 | 0.02 | 1.03 | 0.14 | 0.21 | 1.40 | Massive Sulphide | ||||||||||||
| and | 103.00 | 7.36 | 0.91 | 0.29 | 533 | 0.07 | 0.10 | 0.38 | 0.03 | 0.03 | 0.54 | Disseminated sulphide |
||||||||||||
| incl. | 108.22 | 2.14 | 2.31 | 0.73 | 1279 | 0.08 | 0.01 | 0.83 | 0.07 | 0.08 | 0.99 | Massive Sulphide | ||||||||||||
| MARD0079 | 11.00 | 3.00 | 0.18 | 0.39 | 144 | 0.07 | 0.02 | 0.15 | 0.01 | 0.01 | 0.19 | Semi-massive sulphide |
||||||||||||
| MARD0081 | 85.00 | 4.48 | 1.15 | 0.49 | 734 | 0.09 | 0.12 | 0.49 | 0.08 | 0.22 | 0.91 | Massive Sulphide | ||||||||||||
| incl. | 88.28 | 0.75 | 2.18 | 0.88 | 1325 | 0.10 | 0.19 | 1.21 | 0.20 | 0.58 | 2.18 | Semi-massive sulphide |
||||||||||||
| Massive and | ||||||||||||||||||||||||
| MARD0082 | 89.30 | 1.58 | 1.86 | 0.32 | 1081 | 0.09 | 0.01 | 0.89 | 0.11 | 0.27 | 1.28 | disseminated | ||||||||||||
| Sulphide | ||||||||||||||||||||||||
| and | 100.00 | 9.80 | 1.98 | 0.53 | 986 | 0.09 | 0.01 | 0.69 | 0.19 | 0.12 | 1.01 | Massive Sulphide | ||||||||||||
| incl. | 100.00 | 2.75 | 2.73 | 0.97 | 1326 | 0.20 | 0.01 | 0.91 | 0.13 | 0.17 | 1.22 | Massive Sulphide | ||||||||||||
| incl. | 105.37 | 4.43 | 2.50 | 0.54 | 1240 | 0.04 | 0.02 | 0.86 | 0.12 | 0.15 | 1.15 | Massive Sulphide | ||||||||||||
| MARD0083 | 118.00 | 1.00 | 1.37 | 0.10 | 551 | 0.61 | 0.22 | 0.48 | 0.08 | 0.12 | 0.90 | Semi-massive sulphide |
||||||||||||
| and | 133.89 | 0.61 | 2.60 | 0.69 | 1283 | 0.10 | 0.01 | 0.76 | 0.06 | 0.08 | 0.91 | Massive Sulphide | ||||||||||||
| Massive and | ||||||||||||||||||||||||
| and | 138.00 | 1.90 | 0.95 | 0.26 | 525 | 0.06 | 0.03 | 0.42 | 0.02 | 0.03 | 0.50 | disseminated | ||||||||||||
| Sulphide | ||||||||||||||||||||||||
| MARD0084 | 26.43 | 2.57 | 0.62 | 4.90 | 274 | 0.03 | 0.01 | 0.40 | 0.10 | 0.25 | 0.76 | Oxide | ||||||||||||
| MARD0085 | 108.43 | 0.30 | 2.11 | 0.29 | 943 | 0.04 | 0.12 | 0.61 | 0.15 | 0.44 | 1.32 | Semi-massive sulphide |
||||||||||||
| and | 114.50 | 1.00 | 0.62 | 0.13 | 390 | 0.05 | 0.08 | 0.42 | 0.02 | 0.05 | 0.57 | sulphide stringers | ||||||||||||
| and | 122.00 | 1.58 | 0.54 | 0.51 | 329 | 0.09 | 0.08 | 0.41 | 0.02 | 0.08 | 0.59 | Disseminated sulphide |
||||||||||||
| and | 132.00 | 6.95 | 2.23 | 0.63 | 1003 | 0.09 | 0.12 | 0.83 | 0.10 | 0.11 | 1.16 | Massive Sulphide | ||||||||||||
| incl. | 132.00 | 5.00 | 2.86 | 0.82 | 1234 | 0.09 | 0.03 | 1.05 | 0.13 | 0.14 | 1.35 | Massive Sulphide | ||||||||||||
| MADD0086 | 103.00 | 8.40 | 0.43 | 0.13 | 276 | 0.18 | 0.06 | 0.21 | 0.01 | 0.01 | 0.29 | Disseminated Sulphide |
||||||||||||
| Massive and | ||||||||||||||||||||||||
| and | 125.00 | 12.32 | 1.36 | 0.33 | 625 | 0.35 | 0.11 | 0.54 | 0.05 | 0.06 | 0.76 | disseminated | ||||||||||||
| Sulphide | ||||||||||||||||||||||||
| incl. | 125.65 | 0.70 | 2.43 | 0.24 | 985 | 0.15 | 0.01 | 1.23 | 0.02 | 0.01 | 1.27 | Massive sulphide | ||||||||||||
| Botswana Metals Limited | ||||||||||||||||||||||||
| Suite | 3, 16 Cotham Road, Kew, | Victoria 3101 | ||||||||||||||||||||||
| P: +61 3 9855 1885; F: +61 3 | 9855 | 2885 | ||||||||||||||||||||||
| Email [email protected] www.botswanametals.com.au |
==> picture [173 x 50] intentionally omitted <==
ABN
96
122
995
073
Hole ID |
From | Down Hole | Ni | Cu | Co | Au | Pt | Pd | Rh | Ru | Total | Comment | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (m) | Thick.(m) | % | % | ppm | g/t | g/t | g/t | g/t | g/t | PGE | ||||||||||||||||||
| and | 135.63 | 1.69 | 2.74 | 0.55 | 1172 | 0.16 | 0.02 | 0.98 | 0.10 | 0.10 | 1.20 | Massive sulphide | ||||||||||||||||
| MADD0088 | 153.48 | 1.37 | 1.18 | 0.11 | 557 | 0.05 | 0.02 | 0.39 | 0.07 | 0.09 | 0.57 | |||||||||||||||||
| MARD0071 | 84.44 | 0.12 | 0.70 | 0.49 | 452 | 0.10 | 0.09 | 0.28 | 0.21 | 0.48 | 1.16 | Sulphide stringer | ||||||||||||||||
| MARD0092 | 142.08 | 0.55 | 2.18 | 0.72 | 1186 | 0.10 | 0.01 | 1.39 | 0.11 | 0.11 | 1.62 | Massive Sulphide | ||||||||||||||||
| MARD0094 | 460.00 | 6.82 | 0.75 | 0.25 | 485 | 0.06 | 0.01 | 0.43 | 0.05 | 0.05 | 0.54 | Massive sulphide | ||||||||||||||||
| and stringers | ||||||||||||||||||||||||||||
| Incl. | 461.50 | 1.25 | 2.05 | 0.53 | 1272 | 0.07 | 0.02 | 1.05 | 0.14 | 0.14 | 1.35 | Massive Sulphide | ||||||||||||||||
| 462.90 | 0.10 | 1.64 | 1.67 | 1040 | 0.06 | 0.01 | 1.04 | 0.09 | 0.11 | 1.25 | Sulphide stringer | |||||||||||||||||
| 463.65 | 0.21 | 2.27 | 0.58 | 1356 | 0.10 | 0.01 | 1.31 | 0.15 | 0.15 | 1.62 | Sulphide stringer | |||||||||||||||||
| 466.63 |
0.19 |
1.62 |
0.30 |
1046 |
0.05 |
0.02 |
1.24 |
0.10 |
0.04 |
1.40 |
Sulphide stringer |
Note:
Holes
MARD0076,
70,
71,
72,
73,
76,
80,
87,
90,
91,
93
returned
no
significant intercepts
above
0.3%Ni.
All
widths
are
down
hole
thicknesses.
**Regional
Potential**
Examination
of
regional
geological
and
geophysical
images
shows
linear
features
that correlate
strongly
with
the
zone
of
mineralisation
and
extend
a
considerable
distance
to
the east
towards
the
Maibele
North
Extension
prospect
and
further
still
towards
the
Mashambe Prospect
(see
Figure
1).
Both
of
these
prospects
are
marked
by
prominent
VTEM
anomalism and
the
presence
of
ultramafic
lithology
and
geochemical
anomalies.
PL
59/2008
“Maibele Extension
and
Mashambe
lie
some
5km
and
6km
respectively
east
of
the
Maibele
“new zone”
and
exhibit
similar
surface
geological
indicators
to
those
at
Maibele
North
that
mark the
presence
of
significant
Ni
+
Cu
+
PGEs
mineralisation. PL59/2008 is 100% owned by BML and not currently subject to the JV with BCL.
The
same
linear
trend
can
be
traced
5km
to
the
west
of
Maibele
North
and
Airstrip
Copper to
VTEM
Anomaly
10380a,
where
a
single
historic
drill
hole
into
a
conductor
plate
returned 0.3%Ni
in
sulphides
down
hole.
Evidence
is
mounting
that
Maibele
North
–
Airstrip
Copper
lie
on
a
regional
geological horizon
of
at
least
16km
in
length
prospective
for
Ni-‐Cu
sulphide
mineralisation
and containing
a
number
of
prominent
conductive
anomalies
associated
with
ultramafic lithology.
BML
believes
this
trend
is
grossly
under
explored.
Botswana
Metals
Limited Suite
3,
16
Cotham
Road,
Kew,
Victoria
3101 P:
+61
3
9855
1885;
F:
+61
3
9855
2885 Email
[email protected] www.botswanametals.com.au
==> picture [173 x 50] intentionally omitted <==
ABN
96
122
995
073
==> picture [416 x 246] intentionally omitted <==
Figure
8:
3D
view,
looking
northeast,
showing
the
modelled
Maibele
North
sulphide
body (pink
shape)
and
the
past
Ni-‐sulphide
drill
intersection
from
the
Airstrip
Copper
Prospect.. Red
shapes
on
drill
traces
indicate
sulphide
percent
down
hole.
Note
that
significant
Ni-‐ sulphide
results
have
been
intersected
over
a
nearly
2km
strike
length,
that
is
open
in
all directions
**Resource
Calculation
and
Scoping
Study**
Joint
Venture
partners
BCL
Limited
and
Botswana
Metals
Limited
recently
announced
that MSA
Group
(“MSA”)
has
been
selected
to
prepare
both
a
resource
calculation
and
a
scoping study
for
the
Maibele
North
project.
A
JORC
compliant
resource
calculation
at
Maibele
North is
expected
to
be
completed
in
the
first
quarter
of
2015
and
pending
those
results
a
scoping study
is
expected
to
be
commissioned
in
the
same
quarter.
The
JV
partners
are
pleased
with
the
progress
of
the
Maibele
project
following
the completion
of
a
6130m
drill
program
in
December
2014.
All
outstanding
drill
assays
have been
received
and
will
be
incorporated
into
the
Maibele
North
drill
assay
data
base
in preparation
for
MSA
to
commence
the
task
of
preparing
a
JORC
compliant
resource calculation.
**Patrick
Volpe Chairman**
The
information
in
this
report
that
relates
to
Exploration
Results
is
based
on,
and
fairly represents,
information
and
supporting
documentation
compiled
by
BML
staff
on
site
and provided
to
Mr
Steve
Groves
who
is
a
Member
of
The
Australasian
Institute
of
Mining
and Metallurgy.
Mr
Groves
is
a
consulting
geologist
to
BML
and
has
previously
been
employed
as the
Exploration
Manager
at
BML.
Mr
Groves
has
sufficient
experience
which
is
relevant
to
the
Botswana
Metals
Limited Suite
3,
16
Cotham
Road,
Kew,
Victoria
3101 P:
+61
3
9855
1885;
F:
+61
3
9855
2885 Email
[email protected] www.botswanametals.com.au
ABN
96
122
995
073
==> picture [173 x 50] intentionally omitted <==
_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’.
Mr
Groves
consents
to
the
inclusion
in
this
report
of
the
matters
based
on
his information
in
the
form
and
context
in
which
it
appears._
**About
BCL
Limited**
BCL
Limited
is
a
mining
and
smelting
company
owned
by
the
Botswana
Government.
The company
commenced
operations
in
1959
and
is
now
one
of
the
largest
private
sector employers
in
Botswana.
BCL
Limited
produces
two
types
of
finished
matte
containing
nickel,
copper
and
cobalt,
and platinum
group
and
precious
metals
to
a
smaller
extent.
The
Selebi
Phikwe
ore
deposits
are owned
and
operated
by
BCL
Limited.
The
Selebi
copper
and
nickel
ore
body
was
discovered
in
1963,
and
higher
grade
ore
was discovered
at
Phikwe
in
1966.
Mining
of
nickel-‐copper
ore
commenced
in
1973
and
since 1980,
BCL’s
smelter
has
operated
at
an
annual
production
rate
of
approximately
50,000 tonnes
of
nickel-‐copper
matte.
BCL
Investments
(Pty)
Limited
is
a
wholly
owned
subsidiary
of
BCL
Limited.
**About
the
BCL
Limited
Farm-‐In
Joint
Venture
on
PL
110/94,
PL
111/94
and
PL
54/98**
BCL
Investments
(Pty)
Limited
(“BCL”),
under
the
joint
venture
agreement,
can
spend
an initial
AUD$4
million
on
a
drilling
program
to
earn
40%
of
the
projects
over
these
areas.
BCL has
the
option
to
continue
to
fund
the
projects
to
the
completion
of
a
Bankable
Feasibility Study
(“BFS”)
to
earn
a
70%
interest.
At
that
point
BCL
will
have
the
off-‐take
rights
at
commercial
prices,
to
any
ore
mined.
It
is planned
to
truck
ore
to
the
BCL
smelter
operations
at
Selebi
Phikwe
for
processing,
which
is situated
55
km
to
the
southwest
of
our
projects.
BCL
also
has
a
first
right
of
refusal
to participate
in
exploration
on
the
Company’s
other
prospecting
licences
in
Botswana. The
Company
will
retain
a
30%
interest
after
the
BFS
is
completed,
at
which
time
the management
of
the
projects
will
be
transferred
to
BCL.
**BCL
Investments
(Pty)
Limited
-‐
Farm-‐in
Joint
Venture
Agreement**
BCL
executed
the
revised
Farm-‐In
Joint
Venture
Agreement
on
22
January
2014
with
the
only condition
precedent
being
that
the
DOM
grants
extensions
to
PL
110/94,
PL
111/94
and PL
54/98
(“the
three
PLs”).
The
DOM
subsequently
granted
the
extensions
to
the
three
PLs. The
Company
has
made
base
metal
discoveries
within
the
three
PLs:
Maibele
North
(nickel, copper
and
platinum
group
elements),
Airstrip
Copper
(copper
and
silver)
and
Dibete (copper
and
silver).
A
total
of
23
VTEM
base
and
precious
metal
anomalies
have
been identified
to
the
east
of
the
discoveries.
Botswana
Metals
Limited Suite
3,
16
Cotham
Road,
Kew,
Victoria
3101 P:
+61
3
9855
1885;
F:
+61
3
9855
2885 Email
[email protected] www.botswanametals.com.au
ABN
96
122
995
073
==> picture [173 x 50] intentionally omitted <==
The
Company
believes
that
the
agreement
with
BCL
could
substantially
benefit
the
Company and
its
shareholders.
The
BCL
group
has
been
operating
a
nickel,
copper
and
platinum
group elements
mine
and
smelter
facility
at
Selebi
Phikwe
since
the
1970s.
Both
operations
are only
55
km
to
the
southwest
of
the
PLs.
BCL
has
put
in
place
a
policy
to
find
business opportunities
that
can
extend
the
longevity
of
the
mining
and
smelting
operations
located
at Selebi
Phikwe.
BCL
employs
5,000
people
and
the
township
of
Selebi
Phikwe
has
a population
of
50,000.
The
Joint
Venture
partnership
can
potentially
fast
track
BML’s
efforts
towards
commencing an
operation
within
the
three
PLs.
The
economics
of
bringing
these
potential
projects
to production
will
be
significantly
enhanced
by
the
fact
that
the
BCL
group
mining
and
smelting facilities
are
already
in
existence
and
logistically
close
enough
for
ore
to
be
trucked
to
the Selebi
Phikwe
site.
Of
the
three
BML
projects,
Maibele
North
nickel
prospect
has
been
given
priority
for
drilling as
previous
diamond
drilling
intercepted
nickel
mineralisation
at
around
a
depth
of
50
m.
If the
economics
permit,
the
capital
and
operating
costs
of
developing
a
mine
would
be significantly
reduced
due
to
the
availability
of
BCL’s
processing
plant
situated
55
km
away from
the
joint
venture
exploration
areas.
BCL
and
the
Company
have
recently
been
working
together
to
prepare
an
exploration
plan.
**APPENDIX
1
–
JORC
Code,
2012
Edition
–
Table
1**
Section
1
Sampling
Techniques
and
Data (Criteria
in
this
section
apply
to
all
succeeding
sections.)
CRITERIA |
JORC Code Explanation |
Commentary |
|---|---|---|
| Sampling techniques |
- Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. - Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. - Aspects of the determination of mineralisation that are Material to the Public Report. - In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is |
• Drill core is arranged neatly in 1m core trays for HQ (typically weathered rocks above the limit of oxidation) and 1.5m core trays for NQ core from competent rock. Core is marked at every metre along an orientation line. • Samples for independent laboratory analysis are collected at appropriate geological and or mineralization boundaries and are generally 1m or less in width. • Spot analysis using an XRF analyser has been undertaken at every 10cm interval across the sulphide mineralised intervals at t h e BML site office in Tshokwe using a portable XRF analyser (INNOV-X Delta Premium). Industry standards and blanks are used to monitor the calibration of the instrument. • This information is used as a guide to thepotential Ni tenor of the |
Botswana
Metals
Limited Suite
3,
16
Cotham
Road,
Kew,
Victoria
3101 P:
+61
3
9855
1885;
F:
+61
3
9855
2885 Email
[email protected] www.botswanametals.com.au
==> picture [173 x 50] intentionally omitted <==
ABN
96
122
995
073
| CRITERIA | JORC Code Explanation | Commentary |
|---|---|---|
| coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information. |
sulphides and primarily used to determine appropriate sampling intervals for independent Laboratory analysis |
|
| Drilling techniques |
- Drill type (eg core, reverse circulation ,open- hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face sampling bit or other type, whether core is oriented and if so, by what method, etc). |
• The holes referred to in this release have been drilled by Reverse Circulation or HQ Diamond core through the weathered rock and NQ Diamond Core through unweathered rock and the mineralized zones. • All core drilling is standard tube method. • All competent core from the current program is oriented using a spear orientation method. • Historic holes have been either NQ core, HQ core or Reverse Circulation percussion methods. |
| Drill sample recovery |
- Method of recording and assessing core and chip sample recoveries and results assessed. - Measures taken to maximise sample recovery and ensure representative nature of the samples. - Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. |
• The core is measured after every run, and the results are compared to the actual run to calculate core recoveries. Core is handled with care to avoid breakage and crumbling. Core is washed and laid onto holding core trays. • HQ core is used on friable ground, rotation speeds and water pressure are monitored to avoid destroying the core. A soft rubber mallet is used to drive out core from the barrel. • No significant core loss or recovery issues have been recorded in the current drill program. |
Botswana
Metals
Limited Suite
3,
16
Cotham
Road,
Kew,
Victoria
3101 P:
+61
3
9855
1885;
F:
+61
3
9855
2885 Email
[email protected] www.botswanametals.com.au
==> picture [173 x 50] intentionally omitted <==
ABN
96
122
995
073
| CRITERIA | JORC Code Explanation | Commentary |
|---|---|---|
| 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. |
• All core will be photographed with beginning, ending and intermediate intervals clearly marked on each box. Core will be photographed prior to sampling or any other procedures that may disturb the initial orientation of the core. • The core will be logged in appropriate detail including identification of lithology, structure, alteration, mineralization and other notable characteristics. • Percentages of core recovery and Rock Quality Descriptor (RQD) will be included in the log. The core recovery will be calculated based on each drill run (interval). The RQD calculation will be based on the total length of core sections recovered that are greater than 2.0 times the core diameter for each drill run or interval. |
| 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. |
• Core is cut along the marked orientation line, half core is sampled for metallurgical test work. The remaining half core is cut for quarter core for lab assaying and storage. • No field duplicates were taken. • For lab dispatch, blanks and certified reference material are inserted at every 5th sample for QAQC. |
Botswana
Metals
Limited Suite
3,
16
Cotham
Road,
Kew,
Victoria
3101 P:
+61
3
9855
1885;
F:
+61
3
9855
2885 Email
[email protected] www.botswanametals.com.au
==> picture [173 x 50] intentionally omitted <==
ABN
96
122
995
073
| CRITERIA | JORC Code Explanation | Commentary |
|---|---|---|
| Quality of assay data and laboratory tests |
- The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. - For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. - Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established. |
• For core samples the analytical techniques used a four acid digest multi element suite with ICP/OES or ICP/MS finish (25 gram or 50 gram FA/AAS for precious metals). The acids used are hydrofluoric, nitric, perchloric and hydrochloric acids, suitable for silica based samples. The method approaches total dissolution of most minerals. Total sulphur is assayed by combustion furnace. • Platinum group elements and gold were assayed by Fire Assay following either Pb or NiS collection followed by ICP-MS finish. |
| 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. |
• The data were examined by the senior personnel on site. • The primary data were audited and verified and then stored in a SQL relational data base. • No data have been adjusted. |
| 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. |
• The data were recorded in longitude/latitude WGS84. • The terrain is largely flat. • Down hole surveys are carried out on all holes at 4m intervals using a Flexit survey tool. • N/A – All historic drillholes have been surveyed using DGPS with an accuracy of <1m. |
Botswana
Metals
Limited Suite
3,
16
Cotham
Road,
Kew,
Victoria
3101 P:
+61
3
9855
1885;
F:
+61
3
9855
2885 Email
[email protected] www.botswanametals.com.au
==> picture [173 x 50] intentionally omitted <==
ABN
96
122
995
073
| 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. |
• The current drilling is designed to confirm previous drill results, collect metallurgical samples and step out form the know areas of mineralization. • The drill hole spacing is deemed appropriate for achieving the objectives of the program and will enable a maiden JORC 2012 compliant resource to be calculated. |
|---|---|---|
| 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. |
• The drill lines are oriented at approximately 90 degrees to the strike of both local and regional geological trend. • Drill holes are at 55 degree or 60 angle and orientation of holes does address the orientation of structures. |
| Sample security |
- The measures taken to ensure sample security. |
• Samples were taken and transported by BML personnel to the BML site office Prior to XRF analyses the samples are locked in the BML office. |
| Audits or reviews |
- The results of any audits or reviews of sampling techniques and data. |
• The data were examined by the independent consultant Mr Steve Groves of Perth in Australia and considered appropriate. |
Section 1 Sampling Techniques and Data
-
(Criteria in this section apply to all succeeding sections.)
-
CRITERIA JORC Code Explanation Commentary Mineral - Type, reference name/number, location • The results reported in this tenement and and ownership including agreements or announcement are located in land tenure material issues with third parties such as PL110/94 which is a granted status joint ventures, partnerships, overriding Exploration Licence held by African royalties, native title interests, historical Metals Limited, a 100% owned sites, wilderness or national park and subsidiary of Botswana Metals environmental settings. Limited.
-
- The security of the tenure held at the • PL110/94 is subject to a Joint time of reporting along with any known Venture agreement with BCL impediments to obtaining a licence to Limited. operate in the area. • PL110/94 was recently extended for a further two years and is in good standing.
-
The results reported in this announcement are located in PL110/94 which is a granted Exploration Licence held by African Metals Limited, a 100% owned subsidiary of Botswana Metals Limited.
Botswana
Metals
Limited Suite
3,
16
Cotham
Road,
Kew,
Victoria
3101 P:
+61
3
9855
1885;
F:
+61
3
9855
2885 Email
[email protected] www.botswanametals.com.au
==> picture [173 x 50] intentionally omitted <==
ABN
96
122
995
073
| CRITERIA | JORC Code Explanation | Commentary |
|---|---|---|
| Exploration done by other parties |
- Acknowledgment and appraisal of exploration by other parties. |
• Interpretations and conclusions in this announcement refer in part to results generated by historic exploration work conducted by Roan Selection Trust, Falconbridge, Cardia Mining and Botswana Metals. • Botswana Metals considers all previous exploration work to have been undertaken to an appropriate professional standard. |
| Geology | - Deposit type, geological setting and style of mineralisation. |
• The Maibele North Prospect is hosted within the Magogaphate Shear Zone - a major geological structural feature, generally considered to mark the boundary between the Archaean aged (>2.5 billion year old) Zimbabwean Craton and the Limpopo Belt or Limpopo Mobile Zone (LMZ). . The nickel-copper deposits of Selebi Phikwe lie within the northern part of the Central Zone of the Limpopo Mobile Belt, whilst the nickel copper deposits of Phoenix, Selkirk and Tekwane lie in the Zimbabwean Craton. The Central Zone of the LMZ comprises variably deformed banded gneisses and granitic gneisses, infolded amphibolites and ultramafic intrusions that that have the potential to host Ni-Cu sulphide mineralization. Ni-Cu-PGE mineralization at Maibele North and Airstrip copper is spatially associated with an ultramafic intrusion. |
| Drill hole Information |
- A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all material drill holes: o easting and northing of the drillhole collar o elevation or RL (Reduced Level –elevation above sea level in metres) of the drill hole collar o dip and azimuth of the holeo down hole length and interceptiondepth o hole length.- If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the |
• A table detailing collar coordinates and relevant directional information of the current drill program is included in the release. |
Botswana
Metals
Limited Suite
3,
16
Cotham
Road,
Kew,
Victoria
3101 P:
+61
3
9855
1885;
F:
+61
3
9855
2885 Email
[email protected] www.botswanametals.com.au
ABN
96
122
995
073
==> picture [173 x 50] intentionally omitted <==
| CRITERIA | JORC Code Explanation | Commentary |
|---|---|---|
| case. | ||
| Data aggregation methods |
- In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. - Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. - The assumptions used for any reporting of metal equivalent values should be clearly stated. |
• Where uneven sampling intervals have contributed to an averaged result, the result has been calculated by a weighted average technique that incorporates the interval width of each contributing sample. • A grade cut off of 0.3% and internal dilution of <2m has been used in the calculation of significant intercepts. • No grade truncations have been applied to the data. • The Maibele North ore is interpreted to be genetically and mineralogically similar to the ore treated at the nearby Selebi Phikwe smelter where current recovery grades in the flotation plant average 84% for Ni and 95% for Cu. Where Ni Eqv calculations have been undertaken on historic assay results it has been assumed that similar high recoveries will be achievable. The current drill program has been designed to assess the metallurgical properties of the Maibele North mineralisation and the indicative recoveries will be published in due course. • Given that that the Maibele North project is currently the subject of a Joint Venture with the nearby Mine and Smelter operator, BCL, BML assumes that no impediments in recovering and selling the metals contained in the deposit would exist provided an viable economic resource can be defined. |
| Relationship between mineralisation widths and intercept lengths |
- These relationships are particularly important in the reporting of Exploration Results. - If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. - If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’). |
• The precise geometry of the mineralization with respect to the drill hole angle is not known and thus, all drill hole results are reported as down hole length. • The drill holes in the current program are inclined reconnaissance holes based on the average dip of exposed units. The orientation of the mineralization is unknown and true width is unknown. • Geotechnical logging is under way to address the geometry of mineralisation. |
Botswana
Metals
Limited Suite
3,
16
Cotham
Road,
Kew,
Victoria
3101 P:
+61
3
9855
1885;
F:
+61
3
9855
2885 Email
[email protected] www.botswanametals.com.au
==> picture [173 x 50] intentionally omitted <==
ABN
96
122
995
073
| CRITERIA | JORC Code Explanation | Commentary |
|---|---|---|
| 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. |
• Plan view and/or cross section maps of the reported drill holes are included in this announcement. |
| 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. |
• The results in this announcement are interpreted to lie within the plane of a mineralized trend that is coincident with an ultramafic intrusion and encompasses the Maibele North and Airstrip Copper Prospects. |
| 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. |
• There is no other material exploration data that have not been previously reported. |
| Further work | - The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling). - Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive. |
• The Maibele North Prospect is currently the subject of a 6000m drill program of 30 holes designed to verify previous results, obtain metallurgical samples and ultimately to facilitate the calculation of an initial JORC compliant resource for the project. • If a potentially economic resource is defined, then it is envisioned that he project will proceed to Pre-Feasibility Studies. |
APPENDIX
2
–
Collar
Details
of
Recent
Drill
Program
| Hole Number |
Easting (UTM) |
Northing (UTM) |
RL | Total (m) |
Sampling | Progress |
|---|---|---|---|---|---|---|
| MADD0057 | 632242 | 7595438 | 837 | 140.10 | Sampled | COMPLETE |
| MADD0058 | 632277 | 7595473 | 842 | 150.07 | Sampled | COMPLETE |
| MADD0059 | 632310 | 7595463 | 848 | 142.65 | Sampled | COMPLETE |
| MADD0060 | 632449 | 7595518 | 844 | 161.25 | Sampled | COMPLETE |
| MADD0061 | 632534 | 7595572 | 844 | 122.24 | Sampled | COMPLETE |
| MADD0062 | 632596 | 7595566 | 847 | 155.25 | Sampled | COMPLETE |
Botswana
Metals
Limited Suite
3,
16
Cotham
Road,
Kew,
Victoria
3101 P:
+61
3
9855
1885;
F:
+61
3
9855
2885 Email
[email protected] www.botswanametals.com.au
==> picture [173 x 50] intentionally omitted <==
ABN
96
122
995
073
| MARD0063 | 632659 | 7595569 | 847 | 199.30 | Sampled | COMPLETE |
|---|---|---|---|---|---|---|
| MARD0064 | 632741 | 7595612 | 850 | 240.00 | Sampled | COMPLETE |
| MARD0065 | 632147 | 7595455 | 838 | 98.30 | Sampled | COMPLETE |
| MARC0066 | 632189 | 7595488 | 840 | 7.00 | Sampled | COMPLETE |
| MARC0067 | 632275 | 7595536 | 847 | 16.00 | Sampled | ABANDONED |
| MARD0068 | 632199 | 7595397 | 840 | 149.27 | Sampled | COMPLETE |
| MARD0069 | 632304 | 7595369 | 847 | 220.00 | Sampled | COMPLETE |
| MARW0070 | 632122 | 7595474 | 846 | 120.00 | Sampled | WATER HOLE |
| MARC0071 | 632336 | 7595520 | 848 | 60.00 | Sampled | ABANDONED |
| MARD0072 | 632144 | 7595344 | 847 | 185.40 | Sampled | COMPLETE |
| MARD0073 | 632104 | 7595314 | 845 | 194.31 | Sampled | COMPLETE |
| MARD0074 | 632425 | 7595569 | 843 | 92.25 | Sampled | COMPLETE |
| MARD0075 | 632553 | 7595537 | 848 | 170.30 | Sampled | COMPLETE |
| MARW0076 | 632091 | 7595343 | 846 | 65.00 | Sampled | WATER HOLE |
| MARD0077 | 632255 | 7595437 | 854 | 98.28 | Sampled | COMPLETE |
| MADD0078 | 632227 | 7595442 | 844 | 130.77 | Sampled | COMPLETE |
| MARD0079 | 632185 | 7595416 | 845 | 39.00 | Sampled | COMPLETE |
| MARD0080 | 632391 | 7595564 | 849 | 83.30 | Sampled | COMPLETE |
| MARD0081 | 632421 | 7595529 | 849.0 | 103.49 | Sampled | COMPLETE |
| MARD0082 | 632383 | 7595494 | 844.0 | 137.30 | Sampled | COMPLETE |
| MARD0083 | 632345 | 7595446 | 842.0 | 152.30 | Sampled | COMPLETE |
| MADD0084 | 632246 | 7595503 | 845.0 | 70.00 | Sampled | COMPLETE |
| MARD0085 | 632299 | 7595443 | 846.0 | 146.30 | Sampled | COMPLETE |
| MARD0086 | 632254 | 7595416 | 852.0 | 168.78 | Sampled | COMPLETE |
| MARD0087 | 632266 | 7595325 | 844.0 | 220.00 | Sampled | COMPLETE |
| MARD0088 | 632409 | 7595450 | 849.0 | 167.30 | Sampled | COMPLETE |
| MARD0089 | 632575 | 7595501 | 847.0 | 200.30 | Sampled | COMPLETE |
| MARD0090 | 632624 | 7595570 | 846.0 | 170.30 | Sampled | COMPLETE |
| MARD0091 | 632387 | 7595413 | 846.0 | 215.45 | Sampled | COMPLETE |
| MARD0092 | 632485 | 7595503 | 851.0 | 188.30 | Sampled | COMPLETE |
| MARD0093 | 632522 | 7595541 | 844 | 230.00 | Sampled | COMPLETE |
| MARD0094 | 633080 | 7595533 | 847.0 | 500.00 | Sampled | COMPLETE |
| MADD0095 | 632327 | 7595284 | 839 | 380.30 | Sampled | COMPLETE |
Botswana
Metals
Limited Suite
3,
16
Cotham
Road,
Kew,
Victoria
3101 P:
+61
3
9855
1885;
F:
+61
3
9855
2885 Email
[email protected] www.botswanametals.com.au