YOJEE LIMITED — Capital/Financing Update 2014

Sep 14, 2014

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ASX

Release

15 September 2014

**Southern

Crown Resources
Limited**

ABN:
52
143
416
531 Level
1,
Suite
2 415
Riversdale
Road HAWTHORN
EAST
VIC
3123 T: (+61)
3
9813
3882 F: (+61)
3
9813
4882

www.southerncrown.com.au

Contact:

Rhod
Grivas Executive
Director T: +61
419
919
321 rhod.grivas@southerncrown.com.au

Directors
/
Officers:

Rhod
Grivas Mark
Papendieck Adrian
Hill

**Issued

Shares
and
Options:**

Shares:
37.5
million Unlisted
options:
1.5
million

ASX
Code: SWR

**GROUND

MAGNETIC
SURVEY
CONFIRMS
MAJOR STRUCTURAL
CORRIDOR**

Highlights

• Southern
  Crown
  has
  completed
  a
  detailed
  ground
  magnetic
  survey over
  the
  Luna–Luna
  East
  prospects.

• Magnetic
  survey
  has
  highlighted
  a
  major
  NE
  fault
  and
  dyke
  system, analogous
  to
  an
  IRG
  system
  and
  a
  potential
  breccia
  pipe.

• A
  scout
  geochemical
  sampling
  program
  commenced
  during
  August
  to test
  the
  top
  of
  the
  bedrock
  and
  target
  follow-­‐up
  exploration.

• The
  Company
  has
  completed
  an
  over-­‐subscribed
  placement,
  receiving commitments
  for
  $650,000
  to
  meet
  exploration
  expenditure.

The
Directors
of
Southern
Crown
Resources
Limited ("Southern
Crown" or “the Company”) are
pleased
to
report
the
results
of
the
detailed
ground
geophysics survey
conducted
on
the
Luna-­‐Quicksilver
project
during
August
2014.

The
Luna-­‐Quicksilver
project
consists
of
the
50
Luna
claims,
owned
by
Kisa
Inc, the
70
Quicksilver
claims
owned
by
Black
Peak
LLC
and
13
North
Quicksilver claims
owned
by
North
Fork
LLC,
totaling
an
area
of
86km[2] ,
all
100%
optioned by
Southern
Crown.

The
Luna-­‐Quicksilver
project
is
located
in
the
Tintina
Gold
belt,
a
belt
which hosts
a
number
of
world
class
intrusion
related
gold
(“IRG”)
systems
including Donlin
Creek
(45Moz@
2.21g/t),
Pogo
(5Moz
@
12.45g/t),
Fort
Knox
(produced over
5Moz),
Livengood
(20Moz
@
0.55g/t)
and
Shotgun
(0.7Moz
@1.02g/t).

The
ground
magnetic
survey
at
Luna-­‐Quicksilver
has
highlighted
the
potential for
felsic
dykes
and
sills
within
the
altered
surrounding
sediments
(Figure
3).
In addition,
the
survey
has
highlighted
a
major
NE
trending
structural
break
SE
of Luna-­‐Quicksilver
that
can
be
observed
readily
in
the
field.
Several
cross
cutting structures
and
a
potential
breccia
pipe
have
been
interpreted
from
the magnetic
data
requiring
field
validation.

Southern
Crown’s
Chairman,
Rhod
Grivas
commented: “ The
ground
geophysics has
provided
a
better
understanding
of
the
Luna-­‐Quicksilver
prospects
and has
highlighted
a
number
of
areas
in
addition
to
the
outcropping
sulphidic veins
that
warrant
testing
with
the
scout
geochemical
program.

We
have
made
good
progress
on
completing
a
number
of
exploration initiatives
during
the
remaining
field
season,
this
includes
the
ground magnetics
but
also
channel
sampling,
scout
geochemical
drilling,
surface geochemical
sampling
and
local
and
regional
geological
mapping.”

Page
1
of
8

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Figure
1:
Tintina
gold
belt
showing
project
area
in
SW
Alaska,
200km
from
Donlin
Creek
deposit

**LUNA-­‐QUICKSILVER

PROJECT**

The
Luna-­‐Quicksilver
project
has
undergone
sporadic
exploration
since
2006
with
no
previous
drilling,
hamstrung by
limited
budgets
and
lack
of
focus.
Several
phases
of
geological
mapping,
stream
and
rockchip
geochemistry, channel
sampling
and
geophysics
have
highlighted
mineralization
over
5km
of
strike
in
a
much
larger
40km mineralised
structure.
A
shear
zone
with
over
700m
of
width
has
been
mapped
along
the
river
beds
underneath alluvial
cover,
representing
the
potential
for
a
big
target
system
close
to
the
surface
(Figure
2).

GEOPHYSICS

Although
a
number
of
geophysical
programs
have
been
conducted
at
Luna–Quicksilver
including
regional magnetics,
helimagnetic,
and
wide
spaced
ground
magnetics,
IP
and
EM,
no
detailed
survey
existed
directly
over the
Luna
and
Luna
East
sulphidic
vein
sets.
During
early
August
SJ
Geophysics
on
behalf
of
Southern
Crown, completed
a
102
line
km
survey
on
38
lines
spaced
100m
apart,
with
a
12.5m
sampling
frequency.

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2
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8

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Figure
2:
Luna-­‐Quicksilver
showing
outcropping
veins
in
structural
corridor

The
resulting
levelled
magnetic
response
(Figure
3)
shows
a
very
clear
structural
‘break’
striking
NE,
representing
a fault
(Luna
Fault).
The
current
geochemical
scout
drilling
has
shown
the
weathering
to
increase
in
proximity
to
the fault
zone
and
evidence
of
the
fault
can
be
seen
in
geological
outcrops.
To
the
SE
of
the
fault
a
lower
magnetic
unit characterized
by
the
green
blue
coloration
is
disrupted
by
higher
magnetic
NE
lineation’s,
which
appear
to
be associated
with
dyke
systems.
Scout
drilling
has
been
extended
across
these
features.

Passing
through
the
middle
of
the
survey
striking
north-­‐south
is
a
major
cross-­‐cutting
structure
close
to
the
Luna outcrop
and
extending
north
into
the
Quicksilver
helimagnetic
survey
area,
impacting
the
major
Luna
Fault.
In addition,
the
northern
section
of
the
survey
area
hosts
a
discrete
magnetic
‘low’
which
looks
similar
to
features
at Quicksilver
which
have
been
mapped
as
breccia
pipes.

**EXPLORATION

PROGRESS**

During
August
channel
sampling
commenced
along
the
river
banks
below
the
overburden.
The
channel
sampling involves
digging
away
up
to
0.5m
of
overburden
to
expose
underlying
bedrock.
Work
done
during
the
due-­‐diligence has
indicated
that
this
is
an
effective
way
of
channel
sampling
and
geological
mapping
of
the
bedrock,
similar
to what
would
be
achieved
by
trenching
several
metres
through
the
overburden.

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8

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----- Start of picture text -----

Magnetic
‘low’
possible
breccia
pipe
Luna
E
Luna
Linear
magnetic
features,
possibly
dykes
Figure
3:
Luna
ground
magnetic
survey
----- End of picture text -----

To
date
a
total
of
1600ft
(487m)
of
bedrock
channels
have
been
exposed
from
strategic
locations
along
the
stream cut
banks
around
Luna-­‐Luna
East.
Samples
were
collected
at
10ft
(3m)
intervals
for
a
total
of
160
samples.
Samples are
in
transit
to
an
ALS
laboratory
in
Fairbank,
Alaska.

During
August
an
auger
rig
was
transported
to
the
Luna-­‐Quicksilver
prospect
to
conduct
geochemical
scout
drilling through
the
cover
to
test
the
top
of
bedrock.
Early
geological
logging
has
located
the
Luna
Fault
and
associated fault
clays,
sulphides
associated
with
the
Luna
outcrop
and
dykes
located
SE
of
the
Luna
fault.
Samples
are
being collected
for
analysis.

**CAPITAL

RAISING**

The
Company
successfully
completed
an
oversubscribed
placement
to
raise
$650,000
to
provide
funding
for
the exploration
and
ongoing
commitments
associated
with
the
Alaskan
projects.
A
total
of
7.5M
shares
were
issued
on 8
September
2014,
a
further
5.5M
shares
are
to
be
issued
subject
to
shareholder
approval,
with
a
shareholders meeting
scheduled
for
17
October
2014.

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4
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8

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For
further
information
please
contact:

Rhod
Grivas Chairman Ph:
+61
419
919
321

Competent Person’s Statement

The
information
in
this
report
that
relates
to
Exploration
Targets,
Exploration
Results,
Mineral
Resources
or
Ore
Reserves
is
based
on
information compiled
by
Mr
Rhoderick
Grivas,
an
employee
of
the
Company
and
a
Competent
Person
who
is
a
Member
of
The
Australasian
Institute
of
Mining and
Metallurgy
and
the
Australian
Institute
of
Geoscientists.
Mr
Grivas
has
sufficient
experience
that
is
relevant
to
the
style
of
mineralisation
and type
of
deposit
under
consideration
and
to
the
activity
being
undertaken
to
qualify
as
a
Competent
Person
as
defined
in
the
2012
Edition
of
the ‘Australasian
Code
for
Reporting
of
Exploration
Results,
Mineral
Resources
and
Ore
Reserves’.
Mr
Grivas
consents
to
the
inclusion
in
the
report
of the
matters
based
on
his
information
in
the
form
and
context
in
which
it
appears.

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**APPENDIX

1**

**JORC

TABLE
1**

JORC TABLE 1	JORC TABLE 1
Section 1 Sampling Techniques and Data
Explanation		Notes

	JORC TABLE 1	JORC TABLE 1
	Section 1 Sampling Techniques and Data
Criteria	Explanation	Notes
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 coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.	•n/a for ground magnetic survey •n/a for ground magnetic survey •n/a for ground magnetic survey
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).	•n/a for ground magnetic survey
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.	•n/a for ground magnetic survey
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.	•n/a for ground magnetic survey
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,includingfor instance results for field	•n/a for ground magnetic survey

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Criteria	Explanation	Notes
	duplicate/second-half sampling. •Whether sample sizes are appropriate to the grain size of the material being sampled.
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.	•n/a for ground magnetic survey
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.	•n/a for ground magnetic survey
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.	•Magnetic reading were recorded using a Garmin GPSMap62S in UTM NAD83 Zone 4N – 4m accuracy
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.	•n/a for ground magnetic survey
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 ground magnetic survey was oriented to record magnetic data perpendicular to the main structural trend to provide maximum magnetic information.
Sample security	•The measures taken to ensure sample security.	•Magnetic data was collected by SJ Geophysics and emailed direct to Southern Crown.
Audits or reviews	•The results of any audits or reviews of sampling techniques and data.	•No audits was conducted, but results were in line with previous broad magnetic surveys

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JORC
TABLE
1 Section
2
Reporting
of
Exploration
Results

Criteria	Explanation
Mineral tenement and land tenure status	•Afranex employs a permit manager who ensured the tenure documentation is up to date. The claims can be viewed on the Alaska department of Natural Resources website. ACA Howe completed an independent review during April 2013, no independent review has been completed since.
Exploration done by other parties	•Afranex engaged ACA Howe to write a 43-101 standard report on the projects. It details all exploration by other companies. A database and reports has also been provided by previous explorers.
Geology	•The mineralisation is located in a major NE regional shear zone associated with the bounding faults of the Tintina gold belt. Intrusions into the regional belt have hornfels and altered surrounding sedimentary country rock. Mineralisation has been emplaced in and around the intrusions suggesting the Luna-Quicksilver prospects have the potential to be IRG systems.
Drill hole Information	•No drilling has been conducted by Southern Crown or Afranex. Historical drillhole information does not relate to Luna-Quicksilver.
Data aggregation methods	•No data aggregation methods have been used.
Relationship between mineralisation widths and intercept lengths	•No drilling has been conducted by Southern Crown or Afranex. Historical drillhole information that relates to Kisa represents wide low grade mineralization contained within a breccia pipe.
Diagrams	•Diagrams provided show location of projects, location of ground geophysics and some rockchips results.
Balanced reporting	•Exploration is at an early stage and surface geochemistry and geophysics has been collected over all prospects over a 7 year period. Details have been provided in separate release on 20 Aug 2014.
Other substantive exploration data	•Data provided on 20 August details early stage exploration including other geophysics, geological mapping and surface geochemistry. No drilling has been conducted by previous explorers at Luna- Quicksilver
Further work	•Company is conducting the next stage of exploration which includes geological mapping, surface and bedrock geochemistry to better locate follow-up targets.

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