New Drilling Intersects Significant Copper Sulphides
TORONTO, April 20, 2021 (GLOBE NEWSWIRE) -- Xanadu Mines Ltd (ASX: XAM, TSX: XAM) (“Xanadu” or “the Company”) is pleased to provide an update of on-going drilling at the Stockwork Hill deposit on the Company’s Kharmagtai porphyry copper and gold project in the South Gobi region of Mongolia.
Highlights
- Partial results and visual logs reported from two diamond drill holes (KHDDH564 & KHDDH565) due to delays in Ulaanbaatar assay lab related to COVID-19 restrictions.
- Visual logs of copper in two drill holes highlight the potential for significant strike and depth extension to high-grade bornite zone at Stockwork Hill.
- KHDDH565 expands the strike length of recently reported high-grade bornite zones, intersecting a >680 metre interval of mineralised diorite and intrusive breccia, demonstrating significant potential growth in the mineralised volume under Stockwork Hill.
- KHDDH564 intersects a new zone of mineralisation representing a repeat (offset block) of the high-grade bornite zone
- Drilling continues uninterrupted at Xanadu’s Kharmagtai project with two diamond drill rigs.
Xanadu’s Chief Executive Officer, Dr Andrew Stewart, said “While our drilling continues uninterrupted, following a temporary assay lab slowdown, we’ve decided to share some encouraging partial assays and visual copper sulphide results from Stockwork Hill. These two holes expand the recently discovered high-grade bornite zone, intersecting significant zones of visual copper sulphide mineralisation. KHDDH565, still in progress, is very significant, having intersected over 680 metres of visual copper mineralisation so far and still within mineralisation. KHDDH564 looks to have intersected the upper zone in new down thrown block of mineralisation. These show that Xanadu continues to move toward our high grade target of a >100Mt, 0.8%CuEq block, which would underpin future development at Kharmagtai.
We support the Government of Mongolia in its actions to manage COVID-19 as it completes its well progressed vaccination program.”
KHDDH565 In Progress
Drill hole KHDDH565 was designed as a long-strike or long section drill hole to provide the following:
- Target offsets - information about the faults at the eastern and western ends of the high-grade bornite zone.
- Grade continuity - detailed information along the strike of the high-grade bornite zone.
- Maximise data - reduce the amount of drilling required to incorporate the high-grade bornite zone into the next mineral resource estimate update.
- Extend west - assist in understanding the western extensions of the high-grade bornite zone where little drilling has occurred.
- Evaluate shallow, eastern targets - test tourmaline breccia targets suggested by broad spaced drilling to the east of Stockwork Hill.
Assays have been returned to 604m, just above where the hole entered the high-grade bornite zone. Interim assay results show that a new tourmaline breccia zone has been discovered along strike from the existing tourmaline breccia at Stockwork Hill (Figures 3, 4, 5 and 6).
This new tourmaline breccia zone has returned: 159m @ 0.31% Cu and 0.21 g/t Au (0.41% eCu) from 323m
Including 66m @ 0.52% Cu and 0.37g/t Au (0.7% eCu) from 361m
Including 26m @ 0.77% Cu and 0.56g/t Au (1.06% eCu) from 369m
Including 8m @ 1.18% Cu and 0.64g/t Au (1.51% eCu) from 369m
Including 6m @ 0.83% Cu and 0.83g/t Au (1.26% eCu) from 389m
Including 16m @ 0.48% Cu and 0.40g/t Au (0.68% eCu) from 409m
Including 8m @ 0.83% Cu and 0.37g/t Au (1.02% eCu) from 445m
KHDDH565 remains in progress at a depth of 1,300m. Final assays for the remainder of the drill hole are expected in mid-May.
KHDDH564 Partial Results
Drill hole KHDDH564 was designed as a large-scale step out (400m to the south), targeting a repeat of the high-grade bornite zone at Stockwork Hill (Figure 1). The hole has been completed and assays have been returned to 1,305m (Figure 1 and 2).
The visual mineralisation reported in March (please see ASX/TSX Announcement dated 23 March 2021) has returned assays showing that KHDDH564 has tagged the top of the next major discovery at Kharmagtai.
KHDDH564 intersects 31m @ 0.53% Cu and 0.12 g/t Au (0.59% eCu) from 1176m
Including 18m @ 0.79% Cu and 0.15g/t Au (0.86% eCu) from 1183m
Including 4m @ 1.22% Cu and 0.24g/t Au (1.35% eCu) from 1183m
And 3m @ 1.14g/t Au from 1052m
Final assays from KHDDH564 are expected in mid-May 2021. Additional drill holes are being planned to target this new zone of mineralisation.
KHDDH566 New Drilling
Xanadu has recently commended drill hole KHDDH566, which has been designed as a scissor hole, like KHDDH563 (see ASX/TSX Announcement dated 23 March 2021). KHDDH566 will intersect the high-grade bornite zone 70-100m along strike from KHDDH563 and is currently at 450m (Figure 1). The high-grade bornite zone is expected around 600m. Assays for KHDDH566 are expected late-May.
Zaraa Drilling
Three diamond drill holes were completed at Zaraa in March, but assays were delayed as Stockwork Hill drill holes took priority at the laboratory. These holes (KHDDH560, 561, 562) were designed to fill gaps in the drill pattern at Zaraa to allow it to be added to the next Mineral Resource Upgrade. All holes returned low to medium grade porphyry mineralisation indicative of the edges of the Zaraa system. Hole details can be found in Table 1.
Figure 1. is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2bb9f47d-1d7d-4662-ace3-31b7c379661d
Figure 2. is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e4c270c6-3098-4554-838d-b59a02cb313b
Figure 3. is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1265d46b-3144-457b-922a-2adc902e7ff6
Figure 4. is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cbf49715-779c-4f2d-8bc2-95575e224ce3
Figure 5. is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c56c6953-6e60-4953-8f13-66d7cc34276e
Figure 6. is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/59c0c747-6c67-42e1-99f3-0fcd9c75e510
About Xanadu Mines
Xanadu is an ASX and TSX listed Exploration company operating in Mongolia. We give investors exposure to globally significant, large scale copper-gold discoveries and low-cost inventory growth. Xanadu maintains a portfolio of exploration projects and remains one of the few junior explorers on the ASX or TSX who control an emerging Tier 1 copper-gold deposit in our flagship Kharmagtai project. For information on Xanadu visit: www.xanadumines.com.
Andrew Stewart
CEO
Xanadu Mines Ltd
[email protected]
+61 409 819 922
This Announcement was authorised for release by Xanadu’s Board of Directors.
Appendix 1: Drilling Results
Table 1: Drill hole collar
Hole ID | Prospect | East | North | RL | Azimuth (°) | Inc (°) | Depth (m) |
KHDDH559B | Stockwork Hill | 592867 | 4878060 | 1163 | 211 | -35 | 1120.1 |
KHDDH560 | Zaraa | 594600 | 4876067 | 1289 | 315 | -65 | 1296.5 |
KHDDH561 | Zaraa | 594547 | 4877457 | 1270 | 135 | -70 | 1330.7 |
KHDDH562 | Zaraa | 594530 | 4877299 | 1271 | 135 | -70 | 1045.5 |
KHDDH563 | Stockwork Hill | 592690 | 4877190 | 1296 | 0 | -60 | 951.0 |
KHDDH564 | Stockwork Hill | 592668 | 4876649 | 1299 | 0 | -60 | 1405.0 |
KHDDH565 | Stockwork Hill | 593133 | 4877888 | 1280 | 233 | -55 | 1200.0 |
Table 2: Significant drill results
Hole ID | Prospect | From (m) | To (m) | Interval (m) | Au (g/t) | Cu (%) | CuEq (%) | AuEq (g/t) |
KHDDH559B | Stockwork Hill | 218 | 226 | 8 | 0.14 | 0.11 | 0.18 | 0.35 |
and | 236 | 248 | 12 | 0.09 | 0.06 | 0.10 | 0.20 | |
and | 284 | 564 | 280 | 0.36 | 0.46 | 0.64 | 1.26 | |
including | 290 | 294 | 4 | 0.19 | 0.28 | 0.38 | 0.74 | |
including | 308 | 554 | 246 | 0.40 | 0.51 | 0.71 | 1.39 | |
including | 318 | 336 | 18 | 0.28 | 0.67 | 0.81 | 1.58 | |
including | 346 | 472 | 126 | 0.50 | 0.70 | 0.96 | 1.87 | |
including | 346 | 360 | 14 | 1.23 | 2.36 | 2.99 | 5.84 | |
including | 370 | 374 | 4 | 0.53 | 1.11 | 1.37 | 2.69 | |
including | 392 | 414 | 22 | 0.74 | 0.73 | 1.11 | 2.17 | |
including | 510 | 518 | 8 | 0.97 | 0.27 | 0.76 | 1.49 | |
including | 534 | 546 | 12 | 0.34 | 0.41 | 0.58 | 1.14 | |
and | 611.8 | 838 | 226.2 | 1.43 | 0.68 | 1.41 | 2.75 | |
including | 615 | 790 | 175 | 1.83 | 0.84 | 1.78 | 3.47 | |
including | 617 | 637 | 20 | 2.09 | 1.09 | 2.16 | 4.22 | |
including | 617 | 635 | 18 | 2.28 | 1.15 | 2.32 | 4.53 | |
including | 649 | 783 | 134 | 2.04 | 0.89 | 1.93 | 3.77 | |
including | 651 | 712 | 61 | 3.76 | 1.43 | 3.36 | 6.57 | |
including | 756 | 763 | 7 | 1.67 | 1.07 | 1.92 | 3.76 | |
and | 848 | 908 | 60 | 0.05 | 0.09 | 0.11 | 0.22 | |
and | 928 | 938 | 10 | 0.05 | 0.08 | 0.11 | 0.21 | |
and | 970.3 | 994 | 23.7 | 0.13 | 0.10 | 0.16 | 0.32 | |
and | 1115 | 1120.1 | 5.1 | 1.13 | 0.05 | 0.62 | 1.22 | |
KHDDH560 | Zaraa | 239 | 243 | 4 | 0.06 | 0.18 | 0.21 | 0.40 |
and | 255 | 259 | 4 | 0.06 | 0.29 | 0.32 | 0.63 | |
and | 1003.2 | 1017 | 13.8 | 0.09 | 0.05 | 0.10 | 0.19 | |
and | 1105 | 1109 | 4 | 0.03 | 0.17 | 0.19 | 0.37 | |
and | 1282.6 | 1296.5 | 13.9 | 0.03 | 0.12 | 0.13 | 0.26 | |
KHDDH561 | Zaraa | 21 | 35 | 14 | 0.18 | 0.03 | 0.12 | 0.24 |
and | 45 | 55 | 10 | 0.20 | 0.04 | 0.14 | 0.28 | |
and | 67 | 137 | 70 | 0.07 | 0.07 | 0.10 | 0.20 | |
and | 147 | 177 | 30 | 0.20 | 0.12 | 0.22 | 0.43 | |
including | 159 | 163 | 4 | 0.47 | 0.36 | 0.60 | 1.18 | |
and | 189 | 259 | 70 | 0.15 | 0.12 | 0.19 | 0.38 | |
and | 269 | 512 | 243 | 0.21 | 0.19 | 0.30 | 0.59 | |
including | 297 | 299 | 2 | 0.12 | 0.28 | 0.34 | 0.67 | |
including | 315 | 358 | 43 | 0.24 | 0.25 | 0.37 | 0.72 | |
including | 371 | 401 | 30 | 0.36 | 0.23 | 0.41 | 0.81 | |
including | 411 | 421 | 10 | 0.27 | 0.20 | 0.33 | 0.65 | |
including | 453.5 | 504.2 | 50.7 | 0.32 | 0.29 | 0.45 | 0.88 | |
including | 463 | 475 | 12 | 0.39 | 0.33 | 0.53 | 1.04 | |
and | 532 | 1256 | 724 | 0.07 | 0.15 | 0.19 | 0.37 | |
including | 532 | 548 | 16 | 0.19 | 0.14 | 0.24 | 0.46 | |
including | 562 | 572 | 10 | 0.35 | 0.17 | 0.35 | 0.69 | |
including | 582 | 594 | 12 | 0.14 | 0.23 | 0.30 | 0.58 | |
including | 680 | 686 | 6 | 0.14 | 0.23 | 0.30 | 0.59 | |
including | 778 | 795 | 17 | 0.13 | 0.22 | 0.29 | 0.56 | |
including | 934 | 952 | 18 | 0.09 | 0.24 | 0.29 | 0.57 | |
including | 1028 | 1045 | 17 | 0.11 | 0.31 | 0.37 | 0.72 | |
including | 1057 | 1079 | 22 | 0.11 | 0.23 | 0.28 | 0.55 | |
including | 1185 | 1195 | 10 | 0.10 | 0.31 | 0.36 | 0.71 | |
and | 1281 | 1325 | 44 | 0.10 | 0.11 | 0.16 | 0.32 | |
including | 1289 | 1297 | 8 | 0.30 | 0.16 | 0.31 | 0.61 | |
KHDDH562 | Zaraa | 32 | 54 | 22 | 0.18 | 0.04 | 0.13 | 0.26 |
and | 72 | 86 | 14 | 0.12 | 0.04 | 0.10 | 0.20 | |
and | 120 | 138 | 18 | 1.21 | 0.05 | 0.67 | 1.31 | |
including | 120 | 124 | 4 | 1.42 | 0.05 | 0.78 | 1.52 | |
including | 134 | 138 | 4 | 3.55 | 0.12 | 1.93 | 3.78 | |
and | 148 | 204 | 56 | 0.17 | 0.05 | 0.13 | 0.26 | |
and | 219 | 772.4 | 553.4 | 0.19 | 0.22 | 0.32 | 0.62 | |
including | 441 | 447 | 6 | 0.26 | 0.24 | 0.37 | 0.73 | |
including | 467 | 491 | 24 | 0.16 | 0.20 | 0.28 | 0.55 | |
including | 507 | 550 | 43 | 0.24 | 0.24 | 0.36 | 0.70 | |
including | 566 | 772.4 | 206.4 | 0.31 | 0.36 | 0.52 | 1.02 | |
including | 572.7 | 623 | 50.3 | 0.50 | 0.45 | 0.70 | 1.37 | |
including | 659 | 663 | 4 | 0.34 | 0.57 | 0.74 | 1.45 | |
including | 720 | 755 | 35 | 0.37 | 0.42 | 0.61 | 1.18 | |
and | 782 | 1045.5 | 263.5 | 0.17 | 0.22 | 0.31 | 0.60 | |
including | 784 | 842 | 58 | 0.24 | 0.34 | 0.46 | 0.90 | |
including | 784 | 810.6 | 26.6 | 0.33 | 0.41 | 0.58 | 1.13 | |
including | 865 | 869 | 4 | 0.32 | 0.49 | 0.66 | 1.28 | |
including | 888 | 922 | 34 | 0.32 | 0.38 | 0.54 | 1.06 | |
including | 888 | 902 | 14 | 0.47 | 0.53 | 0.77 | 1.51 | |
including | 969 | 982.4 | 13.4 | 0.10 | 0.20 | 0.25 | 0.48 | |
including | 1002 | 1006 | 4 | 0.75 | 0.18 | 0.57 | 1.11 | |
KHDDH563 | Stockwork Hill | 322 | 332 | 10 | 0.06 | 0.12 | 0.15 | 0.29 |
and | 648.6 | 830 | 181.4 | 1.78 | 0.68 | 1.59 | 3.11 | |
including | 651 | 820 | 169 | 1.91 | 0.72 | 1.70 | 3.32 | |
including | 664 | 668 | 4 | 0.40 | 0.52 | 0.72 | 1.41 | |
including | 680 | 785.6 | 105.6 | 2.89 | 0.99 | 2.46 | 4.82 | |
including | 686 | 778 | 92 | 3.23 | 1.06 | 2.71 | 5.30 | |
and | 860 | 937.1 | 77.1 | 0.10 | 0.19 | 0.24 | 0.47 | |
including | 888 | 892 | 4 | 0.07 | 0.30 | 0.34 | 0.66 | |
including | 906 | 936 | 30 | 0.16 | 0.27 | 0.35 | 0.69 | |
including | 928 | 934 | 6 | 0.38 | 0.42 | 0.62 | 1.20 | |
and | 947.5 | 951 | 3.5 | 0.05 | 0.35 | 0.38 | 0.74 | |
KHDDH564 | Stockwork Hill | 45 | 95 | 50 | 0.05 | 0.13 | 0.16 | 0.31 |
and | 129 | 286.2 | 157.2 | 0.05 | 0.17 | 0.20 | 0.39 | |
including | 129 | 136 | 7 | 0.06 | 0.26 | 0.29 | 0.57 | |
including | 242 | 246 | 4 | 0.09 | 0.31 | 0.35 | 0.69 | |
including | 257 | 265 | 8 | 0.08 | 0.26 | 0.30 | 0.59 | |
and | 965 | 971 | 6 | 0.04 | 0.14 | 0.16 | 0.32 | |
and | 1052 | 1055 | 3 | 1.14 | 0.03 | 0.61 | 1.19 | |
and | 1176 | 1207 | 31 | 0.12 | 0.53 | 0.59 | 1.15 | |
including | 1183 | 1201 | 18 | 0.15 | 0.79 | 0.86 | 1.68 | |
including | 1183 | 1187 | 4 | 0.24 | 1.22 | 1.35 | 2.63 | |
Assays pending | ||||||||
KHDDH565 | Stockwork Hill | 69 | 79 | 10 | 0.12 | 0.05 | 0.12 | 0.23 |
and | 183 | 215 | 32 | 0.19 | 0.12 | 0.22 | 0.43 | |
including | 197 | 211 | 14 | 0.32 | 0.17 | 0.33 | 0.65 | |
and | 247 | 263 | 16 | 0.05 | 0.07 | 0.10 | 0.19 | |
and | 323 | 482 | 159 | 0.21 | 0.31 | 0.41 | 0.81 | |
including | 361 | 427 | 66 | 0.37 | 0.52 | 0.70 | 1.38 | |
including | 369 | 395 | 26 | 0.56 | 0.77 | 1.06 | 2.07 | |
including | 369 | 377 | 8 | 0.64 | 1.18 | 1.51 | 2.94 | |
including | 389 | 395 | 6 | 0.83 | 0.83 | 1.26 | 2.46 | |
including | 409 | 425 | 16 | 0.40 | 0.48 | 0.68 | 1.33 | |
including | 445 | 453 | 8 | 0.37 | 0.83 | 1.02 | 2.00 | |
including | 445 | 451 | 6 | 0.40 | 0.97 | 1.17 | 2.30 | |
and | 522 | 538 | 16 | 0.33 | 0.23 | 0.40 | 0.78 | |
including | 526 | 538 | 12 | 0.41 | 0.29 | 0.50 | 0.99 | |
and | 558 | 604 | 46 | 0.03 | 0.10 | 0.11 | 0.22 | |
Assays pending |
Appendix 2: Statements and Disclaimers
Mineral Resources and Ore Reserves Reporting Requirements
The 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code 2012) sets out minimum standards, recommendations and guidelines for Public Reporting in Australasia of Exploration Results, Mineral Resources and Ore Reserves. The Information contained in this Announcement has been presented in accordance with the JORC Code 2012.
Competent Person Statement
The information in this announcement that relates to exploration results is based on information compiled by Dr Andrew Stewart, who is responsible for the exploration data, comments on exploration target sizes, QA/QC and geological interpretation and information. Dr Stewart, who is an employee of Xanadu and is a Member of the Australasian Institute of Geoscientists, has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking to qualify as the “Competent Person” as defined in the 2012 Edition of the Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves and the National Instrument 43-101. Dr Stewart consents to the inclusion in the report of the matters based on this information in the form and context in which it appears.
Copper Equivalent Calculations
The copper equivalent (eCu) calculation represents the total metal value for each metal, multiplied by the conversion factor, summed and expressed in equivalent copper percentage with a metallurgical recovery factor applied. The copper equivalent calculation used is based off the eCu calculation defined by CSA in the 2018 Mineral Resource Upgrade.
Copper equivalent (eCu) grade values were calculated using the following formula:
eCu = Cu + Au * 0.62097 * 0.8235,
Where Cu = copper grade (%); Au = gold grade (gold per tonne (g/t)); 0.62097 = conversion factor (gold to copper); and 0.8235 = relative recovery of gold to copper (82.35%).
The copper equivalent formula was based on the following parameters (prices are in USD): Copper price = 3.1 $/lb (or 6,834 $ per tonne ($/t)); Gold price = 1,320 $ per ounce ($/oz); Copper recovery = 85%; Gold recovery = 70%; and Relative recovery of gold to copper = 70% / 85% = 82.35%.
Forward-Looking Statements
Certain statements contained in this Announcement, including information as to the future financial or operating performance of Xanadu and its projects may also include statements which are ‘forward‐looking statements’ that may include, amongst other things, statements regarding targets, estimates and assumptions in respect of mineral reserves and mineral resources and anticipated grades and recovery rates, production and prices, recovery costs and results, capital expenditures and are or may be based on assumptions and estimates related to future technical, economic, market, political, social and other conditions. These ‘forward-looking statements’ are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Xanadu, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies and involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward‐looking statements.
Xanadu disclaims any intent or obligation to update publicly or release any revisions to any forward‐looking statements, whether as a result of new information, future events, circumstances or results or otherwise after the date of this Announcement or to reflect the occurrence of unanticipated events, other than required by the Corporations Act 2001 (Cth) and the Listing Rules of the Australian Securities Exchange (ASX) and Toronto Stock Exchange (TSX). The words ‘believe’, ‘expect’, ‘anticipate’, ‘indicate’, ‘contemplate’, ‘target’, ‘plan’, ‘intends’, ‘continue’, ‘budget’, ‘estimate’, ‘may’, ‘will’, ‘schedule’ and similar expressions identify forward‐looking statements.
All ‘forward‐looking statements’ made in this Announcement are qualified by the foregoing cautionary statements. Investors are cautioned that ‘forward‐looking statements’ are not guarantee of future performance and accordingly investors are cautioned not to put undue reliance on ‘forward‐looking statements’ due to the inherent uncertainty therein.
For further information please visit the Xanadu Mines’ Website at www.xanadumines.com.
Appendix 3: Kharmagtai Table 1 (JORC 2012)
Set out below is Section 1 and Section 2 of Table 1 under the JORC Code, 2012 Edition for the Kharmagtai project. Data provided by Xanadu. This Table 1 updates the JORC Table 1 disclosure dated 11 April 2019.
JORC TABLE 1 - SECTION 1 - SAMPLING TECHNIQUES AND DATA
(Criteria in this section apply to all succeeding sections).
Criteria | JORC Code explanation | Commentary |
Sampling techniques |
|
|
Drilling techniques |
|
|
Drill sample recovery |
|
|
Logging |
|
|
Sub-sampling techniques and sample preparation |
|
|
Quality of assay data and laboratory tests |
|
|
Verification of sampling and assaying |
|
|
Location of data points |
|
|
Data spacing and distribution |
|
|
Orientation of data in relation to geological structure |
|
|
Sample security |
|
|
Audits or reviews |
|
|
JORC TABLE 1 - SECTION 2 - REPORTING OF EXPLORATION RESULTS
(Criteria in this section apply to all succeeding sections).
Criteria | Commentary |
Mineral tenement and land tenure status |
|
Exploration done by other parties |
|
Geology |
|
Drill hole Information |
|
Data Aggregation methods |
Copper equivalent (CuEq or eCu) grade values were calculated using the following formula: eCu or CuEq = Cu + Au * 0.62097 * 0.8235, Gold Equivalent (eAu) grade values were calculated using the following formula: eAu = Au + Cu / 0.62097 * 0.8235. Where: Cu - copper grade (%) Au - gold grade (g/t) 0.62097 - conversion factor (gold to copper) 0.8235 - relative recovery of gold to copper (82.35%) The copper equivalent formula was based on the following parameters (prices are in USD):
|
Relationship between mineralisation on widths and intercept lengths |
|
Diagrams |
|
Balanced reporting |
|
Other substantive exploration data |
|
Further Work |
|
JORC TABLE 1 - SECTION 3 - ESTIMATION AND REPORTING OF MINERAL RESOURCES
(Criteria listed in section 1, and where relevant in section 2, also apply to this section.)
Criteria | Commentary |
Database integrity |
|
Site visits |
|
Geological interpretation |
|
Dimensions |
|
Estimation and modelling techniques |
Gold Equivalent (eAu) grade values were calculated using the following formula: eAu = Au + Cu / 0.62097 * 0.8235. Where: Cu - copper grade (%) Au - gold grade (g/t) 0.62097 - conversion factor (gold to copper) 0.8235 - relative recovery of gold to copper (82.35%) The copper equivalent formula was based on the following parameters (prices are in USD): Copper price - 3.1 $/lb (or 6834 $/t) Gold price - 1320 $/oz Copper recovery - 85% Gold recovery - 70% Relative recovery of gold to copper = 70% / 85% = 82.35%. |
Moisture |
|
Cut-off parameters |
|
Mining factors or assumptions |
|
Metallurgical factors or assumptions |
|
Environmental factors or assumptions |
|
Bulk density |
|
Classification |
|
Audits or reviews |
|
Discussion of relative accuracy/ confidence |
|
JORC TABLE 1 - SECTION 4 - ESTIMATION AND REPORTING OF ORE RESERVES
Ore Reserves are not reported so this is not applicable to this announcement.