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WESTERN MINES GROUP LTD — Capital/Financing Update 2021
Oct 7, 2021
66068_rns_2021-10-07_8c2b3c2c-745d-4c7a-8c2e-7a35f47b1c66.pdf
Capital/Financing Update
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ASX Announcement 8 October 2021
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WMG Acquires Key Ground at Jasper Hill Gold Project
Key Points
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[Binding agreement to acquire neighbouring tenement E39/2073 and expand the Jasper ] Hill Gold Project
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[Consolidates 3km known mineralised trend and WMG’s position on the under explored ] Merolia Greenstone Belt
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[Tenement E39/2073 contains a number of robust gold results from historical shallow ] drilling during the 1980’s including:
AJ10: 14m at 1.58g/t Au from 14m inc. 2m at 8.1g/t Au from 16m PDH02: 13m at 1.44g/t Au from 15m inc. 5m at 3.11g/t Au from 15m PDH03: 18m at 1.28g/t Au from 14m inc. 4m at 3.35g/t Au from 14m
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Very limited exploration or follow up work with the ground held in private ownership over last 30 years and significantly under explored
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Review of historical soil sampling shows results of up to 970ppb Au within WMG’s tenement areas and extensive +50ppb Au anomalies over 3km trend
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[Purchase consideration $50,000 cash, 350,000 shares, 700,000 options, 1% NSR ]
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[Jasper Hill is now WMG’s primary gold project within a diversified portfolio of gold, ] battery and base metal commodities
Western Mines Group Ltd (WMG or Company) ( ASX:WMG ) is pleased to update shareholders on the proposed acquisition of highly prospective ground at the Jasper Hill Gold Project.
Summary
WMG has entered into a binding agreement to acquire 100% of neighbouring tenement E39/2073, contiguous to the Company’s current Jasper Hill project area, that consolidates WMG’s position on the Merolia Greenstone Belt.
Tenement E39/2073 contains the extension of a 3km long known mineralised trend, to the north of WMG’s tenement P39/6267 ( ASX, Jasper Hill Gold Project Tenement Grant and Project Expansion, 2 August 2021 ). This mineralised trend, consolidated by WMG, has been largely held in private ownership over the last 30 years and is significantly under explored. Historical shallow, wide spaced, RAB and RC drilling during the 1980’s highlights a number of robust gold results in the tenement including: AJ10 14m at 1.58g/t Au from 14m, including 2m at 8.1g/t Au from 16m, PDH02 13m at 1.44g/t Au from 15m, including 5m at 3.11g/t Au from 15m and PDH03 18m at 1.28g/t Au from 14m, including 4m at 3.35g/t Au from 14m - with little or no follow up work since that time.
Commenting on the Jasper Hill Gold Project, WMG Managing Director Caedmon Marriott said:
“This is a great acquisition for WMG of an exciting piece of ground that consolidates our Jasper Hill Gold Project. We now have a great position on this under explored greenstone belt, including a 3km long known mineralised trend that has only been lightly drilled, with no real follow up work since the 1980-90’s. We look forward to getting out on the ground and ramping up work at what is now our primary gold project.”
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ASX Announcement 8 October 2021
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Project Overview
The Jasper Hill Gold Project lies on the Merolia Greenstone Belt, approximately 80km southeast of Laverton, and 50km from the Company’s Rock of Ages Project. This north-northwest trending belt can be traced over 110km in a south-southeast direction from the Burtville Mining Centre.
The project area is lightly explored, due to being partly under shallow cover, but is contiguous to the recently producing gold mines of Lord Byron, immediately to the south and Fish, to the east. The Lord Byron and Fish deposits were mined from 2010 to 2012, and had a combined remaining resource of 156,000oz at 1.9g/t Au when sold into private ownership in 2019[1] . The greenstone belt sequence of ultramafic and mafics, BIF and ferruginous chert hosting the Lord Byron deposit extends into the southern portion of WMG’s recently granted tenement.
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Figure 1: Location of Jasper Hill Project
1. Focus Minerals Ltd (ASX:FML) Annual Report 2019
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ASX Announcement 8 October 2021
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Summary of the Proposed Acquisition
The Company has signed a binding Agreement to acquire 100% of tenement E39/2073 (Tenement) from the Vendors, Thomas Williams and Neelesh Bhasin.
The acquisition consideration payable to the Vendors will be $50,000 cash, 350,000 fully paid ordinary shares in the Company, 700,000 options over ordinary shares (with an exercise price of $0.30 per share, exercisable 3 years from the date of issue) and the Company will grant the Vendors a 1% Net Smelter Royalty (NSR) in respect of any minerals extracted and recovered from the Tenement.
The acquisition is subject to the Company being satisfied with its legal and technical due diligence on the Tenement within 21 days from the date of the Agreement and completion of the purchase of the Tenement will occur 28 days from the date of the Agreement.
Historical Exploration and Mining
Mining
Tenement E39/2073 lies to the north and east of WMG’s recently pegged prospecting licence application P39/6267 ( ASX, Jasper Hill Gold Project Tenement Grant and Project Expansion, 2 August 2021 ) and south of granted tenement E39/2079. The Tenement contains approximately 1.5km strike extension of a 3km long known mineralised trend extending north from P39/6267. This mineralised trend has been largely held in private ownership by the Vendor’s family since the 1960’s and as such was not part of the tenement package of various public companies that explored, discovered and subsequently mined the neighbouring Lord Byron and Fish gold mines.
However, the trend contains a number of fairly large open pit workings which the Vendor’s family have mined themselves; transporting ore to the Leonora and Laverton State Batteries for processing in the 1960’s and 1980’s. The two most significant of these pits are the “Williams Pit” straddling the boundary between E39/2073 and WMG’s application P39/6267 and the “Southern Pit”, within P39/6267.
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Figure 2: Southern end of “William’s Pit” (photo supplied by Vendor)
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Drilling
Limited historical drilling has been undertaken along the mineralised trend within tenement E39/2073. Shallow, wide spaced, RAB and RC drilling was completed during the 1980’s with two campaigns by Jones Mining NL (1983) (prefixed PDH) and Anglo Australian Resources NL (1986-87) (prefixed AJ). The results of this work highlights a number of robust intersections of gold, some of which are in standalone drill holes, that have received little or no follow up work since that time. Significant intersections within tenement E39/2073 are shown in Table 1 and Figure 3 below.
| HoleID | Easting (MGA51) |
Northing (MGA51) |
Max Depth (m) |
Azimuth | Dip | From (m) |
To (m) |
Interval (m) |
Grade (g/t Au) |
|---|---|---|---|---|---|---|---|---|---|
| AJ08 | 505,932 | 6,776,885 | 48 | 97 | -60 | 31 | 32 | 1 | 0.83 |
| AJ09 | 505,919 | 6,776,820 | 50 | 178 | -60 | 40 | 42 | 2 | 0.50 |
| AJ10 | 505,876 | 6,776,775 | 48 | 90 | -60 | 14 inc. 16 |
28 18 |
14 2 |
1.58 8.10 |
| AJ11 | 505,932 | 6,776,650 | 30 | 80 | -60 | 14 | 16 | 2 | 0.77 |
| AJ14 | 505,982 | 6,776,425 | 30 | 90 | -60 | 18 | 29 | 11 | 0.73 |
| AJ16 | 506,088 | 6,776,010 | 32 | 85 | -60 | 12 22 |
18 23 |
6 1 |
0.57 1.27 |
| AJ17 | 505,892 | 6,776,719 | 40 | 90 | -60 | 8 | 10 | 2 | 0.62 |
| AJ18 | 505,872 | 6,776,820 | 41 | 138 | -60 | 18 31 |
20 40 |
2 9 |
0.65 0.79 |
| AJ19 | 506,121 | 6,775,919 | 37 | 90 | -60 | 0 | 9 | 9 | 0.54 |
| AJ20 | 506,117 | 6,775,819 | 44 | 90 | -60 | 29 | 30 | 1 | 0.54 |
| AJ26 | 506,143 | 6,775,419 | 37 | 90 | -60 | 2 | 4 | 2 | 1.32 |
| PDH01 | 506,162 | 6,775,417 | 40 | 90 | -70 | 10 15 30 |
12 16 32 |
2 1 2 |
1.20 0.53 0.57 |
| PDH02 | 506,163 | 6,775,437 | 44 | 90 | -70 | 15 inc 15 |
28 20 |
13 5 |
1.44 3.11 |
| PDH03 | 506,162 | 6,775,479 | 41 | 90 | -70 | 14 inc. 14 and 26 |
32 18 28 |
18 4 2 |
1.28 3.35 2.06 |
| PDH04 | 506,164 | 6,775,499 | 35 | 90 | -70 | 8 13 |
9 25 |
1 12 |
0.95 0.50 |
| PDH06 | 506,156 | 6,775,437 | 44 | 90 | -70 | 29 inc. 29 and 38 |
42 31 39 |
13 3 1 |
0.62 1.27 1.20 |
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ASX Announcement 8 October 2021
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Soil Sampling
WMG has conducted an initial review of historical soil sampling surveys conducted over prospecting licence application P39/6267 and tenement E39/2073. The most comprehensive recent surveys were undertaken by Anglo Australian Resources NL in 1987 and Seamet Limited in 1993.
Following orientation work Seamet collected 491 samples at 100m x 50m spacing along the length of the trend, with a coarse fraction (2mm to 30mm) collected from 20cm depth and analysed for gold by the BLEG technique. This work shows a number of significantly anomalous results, with assays of up to 970ppb Au within tenement P39/6267 and a number of results over 100ppb Au along the 3km trend.
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ASX Announcement 8 October 2021
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Figure 4: Seamet Soil Sampling Results
Exploration Plans
Following the recent grant of tenement E39/2079 and upon completion of the current acquisition of tenement E39/2073, Jasper Hill will become WMG’s primary gold project and a key focus of the Company alongside the flagship Mulga Tank Ni-Cu-PGE project.
The Company is in the process of collating all the historic data for the entire project area and after completing a heritage survey of the area WMG intends to get straight into field activities including: mapping and investigating the historical pits along the known mineralised trend, soil sampling and ground magnetics, with the aim to delineate target areas for a first pass aircore or slimline RC drilling program as soon as possible. The Company sees great potential in the project and looks forward to updating shareholders on the progress of these activities in due course.
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For further information please contact: Dr Caedmon Marriott Managing Director Tel: +61 475 116 798 Email: [email protected]
This announcement has been authorised for release to the ASX by the Board of Western Mines Group Ltd
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Appendix: Drill Hole Table
| HoleID | Easting (MGA51) | Northing (MGA51) | Max Depth (m) | Azimuth | Dip | Tenement |
|---|---|---|---|---|---|---|
| AJ01 | 506,156 | 6,774,200 | 50 | 90 | -60 | P39/6267 |
| AJ02 | 506,162 | 6,774,240 | 56 | 100 | -60 | P39/6267 |
| AJ03 | 506,172 | 6,774,290 | 24.5 | 90 | -60 | P39/6267 |
| AJ04 | 506,172 | 6,774,290 | 45.5 | 90 | -60 | P39/6267 |
| AJ05 | 506,173 | 6,774,327 | 6 | 90 | -60 | P39/6267 |
| AJ06 | 506,170 | 6,774,327 | 40 | 90 | -60 | P39/6267 |
| AJ07 | 506,159 | 6,774,526 | 50 | 90 | -60 | P39/6267 |
| AJ08 | 505,932 | 6,776,885 | 48 | 97 | -60 | E39/2073 |
| AJ09 | 505,919 | 6,776,820 | 50 | 178 | -60 | E39/2073 |
| AJ10 | 505,876 | 6,776,775 | 48 | 90 | -60 | E39/2073 |
| AJ11 | 505,932 | 6,776,650 | 30 | 80 | -60 | E39/2073 |
| AJ12 | 505,936 | 6,776,595 | 30 | 90 | -60 | E39/2073 |
| AJ13 | 505,957 | 6,776,505 | 52 | 82 | -60 | E39/2073 |
| AJ14 | 505,982 | 6,776,425 | 30 | 90 | -60 | E39/2073 |
| AJ15 | 506,016 | 6,776,250 | 34 | 95 | -60 | E39/2073 |
| AJ16 | 506,088 | 6,776,010 | 32 | 85 | -60 | E39/2073 |
| AJ17 | 505,892 | 6,776,719 | 40 | 90 | -60 | E39/2073 |
| AJ18 | 505,872 | 6,776,820 | 41 | 138 | -60 | E39/2073 |
| AJ19 | 506,121 | 6,775,919 | 37 | 90 | -60 | E39/2073 |
| AJ20 | 506,117 | 6,775,819 | 44 | 90 | -60 | E39/2073 |
| AJ21 | 506,151 | 6,775,419 | 14 | 90 | -60 | E39/2073 |
| AJ22 | 506,141 | 6,774,519 | 34 | 270 | -60 | P39/6267 |
| AJ23 | 506,191 | 6,774,249 | 18 | 75 | -60 | P39/6267 |
| AJ24 | 506,202 | 6,774,249 | 38.5 | 270 | -60 | P39/6267 |
| AJ25 | 506,204 | 6,774,229 | 32.5 | 270 | -60 | P39/6267 |
| AJ26 | 506,143 | 6,775,419 | 37 | 90 | -60 | E39/2073 |
| AJ27 | 506,134 | 6,774,719 | 26.25 | 90 | -60 | P39/6267 |
| AJ28 | 506,113 | 6,774,696 | 29.5 | 90 | -60 | P39/6267 |
| AJ29 | 506,139 | 6,774,921 | 40.5 | 76 | -60 | P39/6267 |
| AJ30 | 505,991 | 6,777,019 | 30 | 80 | -60 | E39/2073 |
| PDH01 | 506,162 | 6,775,417 | 40 | 90 | -70 | E39/2073 |
| PDH02 | 506,163 | 6,775,437 | 44 | 90 | -70 | E39/2073 |
| PDH03 | 506,162 | 6,775,479 | 41 | 90 | -70 | E39/2073 |
| PDH04 | 506,164 | 6,775,499 | 35 | 90 | -70 | E39/2073 |
| PDH05 | 506,163 | 6,775,543 | 20 | 90 | -70 | E39/2073 |
| PDH06 | 506,156 | 6,775,437 | 44 | 90 | -70 | E39/2073 |
| PDH07 | 506,162 | 6,775,371 | 46 | 90 | -70 | P39/6267 |
Table 2: Historical Drill Hole Table for Tenements E39/2073 and P39/6267
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About WMG
Western Mines Group Ltd ACN 640 738 834 Level 3, 33 Ord Street West Perth WA 6005
Board
Rex Turkington Non-Executive Chairman
Dr Caedmon Marriott Managing Director
Francesco Cannavo Non-Executive Director
Paul Burton Non-Executive Director
Capital Structure
Shares: 43.8m Options: 18.4m Share Price: $0.205 Market Cap: $8.98m Cash (30/06/21): $5.5m
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@westernmines westernmines Western Mines Group
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Western Mines Group Ltd (ASX:WMG) is a mineral exploration company driven by the goal to create significant investment returns for our shareholders through exploration and discovery of high-value gold and nickel sulphide deposits across a portfolio of highly-prospective projects located on major mineral belts of Western Australia.
Our flagship project and current primary focus is the Mulga Tank Ni-Cu-PGE Project, a major dunite intrusive found on the under-explored Minigwal Greenstone Belt. Previous work shows significant evidence for a working sulphide mineral system and is considered highly prospective for Ni-Cu-PGE mineralisation.
WMG holds numerous other projects across major WA mineral belts including Melita (Au), midway between Kookynie and Leonora in the heart of the WA Goldfields and Jasper Hill (Au), with numerous prospective gold trends extending from the adjacent Lord Byron and Fish historical gold mines. The Company is also actively exploring Youanmi (Au), Pavarotti (Ni-Cu-PGE), Rock of Ages (Au), Broken Hill Bore (Au) and Pinyalling (Au).
Competent Persons Statement
The information in this announcement that relates to Exploration Results and other technical information complies with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) and has been compiled and assessed under the supervision of Dr Caedmon Marriott, Managing Director of Western Mines Group Ltd. Caedmon is a Member of the Australian Institute of Geoscientists and a Member of the Australasian Institute of Mining and Metallurgy. He 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 JORC Code. Caedmon consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.
Disclaimer
Some of the statements appearing in this announcement may be in the nature of forward looking statements. You should be aware that such statements are only predictions and are subject to inherent risks and uncertainties. Those risks and uncertainties include factors and risks specific to the industries in which WMG operates and proposes to operate as well as general economic conditions, prevailing exchange rates and interest rates and conditions in the financial markets, among other things. Actual events or results may differ materially from the events or results expressed or implied in any forward looking statement. No forward looking statement is a guarantee or representation as to future performance or any other future matters, which will be influenced by a number of factors and subject to various uncertainties and contingencies, many of which will be outside WMG’s control.
WMG does not undertake any obligation to update publicly or release any revisions to these forward looking statements to reflect events or circumstances after today's date or to reflect the occurrence of unanticipated events. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions or conclusions contained in this announcement. To the maximum extent permitted by law, none of WMG, its Directors, employees, advisors or agents, nor any other person, accepts any liability for any loss arising from the use of the information contained in this announcement. You are cautioned not to place undue reliance on any forward looking statement. The forward looking statements in this announcement reflect views held only as at the date of this announcement.
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Jasper Hill
JORC Code, 2012 Edition - Table 1 Section 1: Sampling Techniques and Data
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| Sampling techniques |
• Nature and quality of sampling (eg cut channels, random chips, or specifc 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 fre assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information. |
• Industry standard techniques for the time were used • Reverse circulation (RC) and rotary air blast (RAB) drilling was used to obtain 1m samples from which samples were taken for analysis by 30g aqua regia or fre assay and AAS • Seamet coarse fraction soil samples were pulverised before analysis by BLEG |
| 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). |
• Historical Jones Mining N.L. drilling prefxed PDH used a Mole Pioneer reverse circulation percussion drill rig • Historical Anglo Australian Resources N.L. drilling prefxed AJ used an Ingersol Rand T-64 percussion drill rig without reverse circulation capability |
| 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 fne/coarse material. |
• Some instances of poor recovery are noted in the historical logs, generally these holes were abandoned before reaching target depth • Measures taken to maximise sample recovery, ensure representativity of samples and any relationship between sample recovery and grade are unknown |
| 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. |
• Historical logging was qualitative and was not completed to a level of detail to support a mineral resource estimate |
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| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| Sub-sampling techniques and sample preparation |
• If core, whether cut or sawn and whether quarter, half or all core taken. • If non-core, whether rifed, 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 feld duplicate/ second-half sampling. • Whether sample sizes are appropriate to the grain size of the material being sampled. |
• QAQC and sampling protocols for the historical drilling is unknown • Seamet conducted initial orientation work before electing to collect the coarse fraction 2mm to 30mm sample which was deemed to give a better response versus the -2mm |
| 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 (i.e. lack of bias) and precision have been established. |
• Both sets of drill holes (PDH and AJ) were analysed at Analytical Services WA using 30g aqua regia digest or fre assay and AAS • QAQC procedures are unknown |
| Verifcation of sampling and assaying |
• The verifcation of signifcant intersections by either independent or alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data verifcation, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data. |
• No twinned holes were drilled • Independent verifcation and any adjustments to the historical assay data are unknown |
| 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. • Specifcation of the grid system used. • Quality and adequacy of topographic control. |
• Accuracy of location of historical holes is questionable and still needs to be verifed onsite by WMG • PDH holes were located on a local grid, whilst AJ holes were located using AGD84 Zone 51 • Subsequent explorers have noted an error in the quoted location of the AJ holes requiring a correction of +290m north and -375m east to correct to AMG • Based on high-resolution satellite imagery and historical feld plans showing drill hole locations WMG has applied a correction of +281m north and -366m east to the AJ holes, this will be verifed in the feld by handheld GPS is collar locations can be found • Corrected collar locations have been converted to GDA94 Zone 51 and quoted by WMG • Seamet soil sample locations were recorded in AMG84 Zone 51 and they also noted the error in the Anglo Australian Resources local grid |
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| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| Data spacing and distribution |
• Data spacing for reporting of Exploration Results. • Whether the data spacing and distribution is sufcient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifcations applied. • Whether sample compositing has been applied. |
• Given the frst pass nature of the historical exploration the spacing is appropriate for understanding the exploration potential and the identifcation of anomalous zones • Soil samples were predominantly collected at 100m x 50m spacing • Not applicable as frst pass exploration drilling • No sample compositing has been applied |
| Orientation of data in relation to geological structure |
• Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. • If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. |
• The drilling orientation is variable through the drill programs and was varied to be approximately orthogonal to the interpreted strike and dip of the targeted structures and geological units • Any sampling bias is unknown |
| Sample security |
• The measures taken to ensure sample security. | • No records available regarding sample security |
| Audits or reviews |
• The results of any audits or reviews of sampling techniques and data. |
• No records available regarding audits or reviews |
Section 2: Reporting of Exploration Results
| 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. |
• Jasper Hill Gold Project comprises granted tenement E39/2079 and tenement application P39/6267 • Both tenements held 100% by Western Mines Group Ltd • 1% NSR to original tenement holder of E39/2079 • Native Title Claim by Nyalpa Pirniku not yet determined • Historical stone monument within E39/2079, no environmentally sensitive areas within the tenement areas • Tenements are in good standing |
| Exploration done by other parties |
• Acknowledgment and appraisal of exploration by other parties. |
• Dechow & Co Pty Ltd (1972-77) - completed fairly extensive geological mapping, rock chip sampling along the mineralised trend • Jones Mining N.L. (1983-84) - completed geological mapping, rock chip sampling and 7 RAB holes PDH01 to PDH07 mostly focused on the Williams Pit area • Anglo Australian Resources N.L. (1986-87) - completed geological mapping, rock chip and soil sampling and 30 RAB/RC holes AJ01 to AJ30 along the mineralised trend • Seamet Limited (1992-1994) - completed geological mapping, rock chip and soil sampling along the mineralised trend |
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| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| Geology | • Deposit type, geological setting and style of mineralisation. |
• Geology of the area consists of a greenstone belt sequence of ultramafc and mafc rocks, BIF and cherts • Style of mineralisation targeted is similar to neighbouring Lord Byron and Fish mines being BIF hosted structurally controlled gold |
| 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 • 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 justifed 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. |
• A listing of the drill hole information material to the understanding of the exploration results provided in the body of this announcement • The use of any data is recommended for indicative purposes only in terms of potential gold mineralisation and for developing exploration targets |
| Data aggregation methods |
• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-of 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. |
• Raw composited sample intervals have been reported and aggregated where appropriate • No metal equivalent values have been quoted |
| 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 efect (eg ‘down hole length, true width not known’). |
• All results referenced are based on down-hole metres and therefore may not refect the true width of mineralisation or thickness of host lithologies • Given the widely spaced nature of the drilling, the mineralisation, geometry and extent of potential orebodies cannot be readily modelled at this early stage |
| Diagrams | • Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any signifcant 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 and tabulations are presented in the body of the 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. |
• All known historical drill holes within tenement E39/2073 and tenement application P39/6267 have been reported • All signifcant intervals greater than 0.5g/t Au have been quoted |
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ASX Announcement 8 October 2021
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| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| 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. |
• Mining by the Williams Brothers from the Williams Pit, straddling the northern boundary of P39/6267 is recorded in the form of receipts from the Laverton State Battery with a 76.2t parcel mined and processed in 1964 and an approximately 200t mined and processed 1980-83 |
| 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. |
• Future exploration may geological mapping, soil and rock chi sampling and ground magnetic surveys followed by aircore and RC drilling • Exploration is at an early stage and future drilling areas will depend on interpretation of results |
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