REG - Arc Minerals Limited - Botswana Drilling Update
25/01/2024 12:15
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RNS Number : 9416A Arc Minerals Limited 25 January 2024
25 January 2024
Arc Minerals Ltd
('Arc' or the 'Company')
Botswana Drilling Update
Arc Minerals, the Africa focussed copper company, is pleased to announce the
results from its scout drilling campaign completed at its Virgo Project
located within the highly prospective Central Structural Corridor of the
Kalahari Copper Belt ('KCB') in the Republic of Botswana.
Highlights
· Copper mineralisation and anomalism intersected
· Up to 3.65% Cu and 24 g/t Ag assayed over the individual sampled
interval
· Interpreted Prospective Ngwako Pan / D'Kar contacts confirmed
· Zambia drilling programme being finalised over next few weeks
Nick von Schirnding, Executive Chairman of Arc Minerals, commented:
The maiden scout drilling campaign in Botswana on both licenses has been a
great success with the prospective contact geology now confirmed to be present
in both licenses. It is extremely encouraging to see significant
mineralisation intersected close to the boundary of our licenses by Khoemacau
that bodes well for our follow-up exploration campaign. I look forward to
updating shareholders as we progress drilling the Virgo project.
Scout Drill Programme
The aim of the maiden scout drilling programme over both the PL 135/2017 and
PL 162/2017 prospecting licenses that make up the Virgo project, was to:
· identify the lithologies below the Kalahari sand cover to confirm the
presence of the interpreted D'Kar - Ngwako Pan formation contact.
· confirm the lateral extents of this favourable geology
· test for anomalism/mineralisation
This scout drilling campaign, with each hole spaced over 1km between profiles,
has confirmed all of the above with contact geology, copper anomalism and
mineralisation intersected with up to 3.65% Cu assayed over one of the sampled
intervals near the contact between the D'Kar and Ngwako Pan formations
("DKF-NPF").
Figure 1. Image showing location of holes drilled and respective license
holdings in Botswana
PL 135/2017 License
The companies PL135/2017 prospecting license is surrounded on three sides by
Khoemacau Copper Mining Limited ("Khoemacau") prospecting licenses, who have
recently been acquired by MMG for ~$1.9 billion.
This PL135/2017 license is located towards the south-eastern margin of the KCB
occupying a similar geological setting to that recently drilled by Khoemacau
at their recent Mawana Fold Discovery and the Zone 9 exploration target, where
economic grades of copper mineralisation has already been intersected by
drilling. These discoveries are located at the north-western and south-eastern
margins of the Company's prospecting license respectively.
Khoemacau's Mawana fold discovery has defined a possible economic zone of
copper mineralisation that appears to trend towards and into the Company's PL
135/2017 license (Figure 2.). The Company's recent scout drill holes
intersected anomalous grades of copper mineralisation (details in the JORC
Table 1. Report in Appendix A) close to this apparent trend and confirmed an
east-west trending DKF-NPF contact position approximately 5km long running
through the license.
Fig 2. Image showing Khoemacau license holding, targets and drilling results
in relation to PL 135/2017.
PL 162/2017
Similarly, the Company's PL162/2017 prospecting license is partly bounded to
the north and east by Khoemacau's prospecting licenses. One of the Company's
RAB drill holes, used to guide the positioning of RC scout drill holes,
intersected 3.65% Cu and 24 g/t Ag over a sampled interval of 1m
('ALV-RAB-017'; 25m-26m).
Further, a RC scout drill hole intersected 2.05% Cu and 58 g/t Ag over a
sampled interval of 1m ('ALV-RC-005'; 85m-86m), providing further support that
the prospective contact geology in this part of the license carries economic
grades of copper mineralisation.
Fig 3. Image showing Khoemacau license holding and holes drilled in relation
to PL 162/2017.
Further Work
Recent developments with respect to the Mawana Fold discovery and the existing
Zone 9 target on the margins of the PL135/2017 license of the neighbouring
Khoemacau license holdings and the intersection of economic grades of
mineralisation on PL162/2017, warrants further exploratory work to be carried
out in these licenses.
In order to fine tune the next phase, a ground based Induced Polarisation
('IP') Geophysical survey is being considered to inform further drilling
programmes. The ground IP will help resolve the 3D orientation of structures
and lithologies, while also helping to discriminate between types of
conductive structures and providing targets for drilling.
About the Virgo Project
In November 2021, Arc Minerals Limited acquired a 75% interest in Alvis-Crest
(Proprietary) Limited, the holder of two prospecting licences (PL 135/2017
& PL 162/2017) in Botswana's Kalahari Copper Belt ("KCB"), colloquially
called the Virgo Project/Licences. These licenses, cover an area of over
210km(2), with PL 135/2017 approximately 10km south-east of the large
underground Khoemacau Copper mine recently commissioned by Cupric Canyon
Capital LP.
Please see the below link to a map of the licences:
http://www.rns-pdf.londonstockexchange.com/rns/3027T_1-2021-3-24.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/3027T_1-2021-3-24.pdf)
The Virgo Licenses cover an area of over 210km(2) and lie within (PL 165/2017)
and adjacent (PL 135/2017) to the highly prospective Central Structural
Corridor and within 10km and 50km of the Zone 5 and Banana Zone copper
projects respectively, known as the two largest copper projects on the KCB.S
Historically, two copper-nickel soil anomalies have already been recorded on
PL 135/2017 and PL 162/2017 and are approximately 3km and 2.5km in strike
length, respectively. The largest of the two anomalies, located on PL
135/2017, overlays an interpreted DKF-NPF contact, while a second more
intermittent anomaly may be linked to extensional faulting around the dome
edge. The large coherent anomaly on PL 162/2017, also appears to overlay the
interpreted DKF-NPF contact on the northern limb of a syncline.
Qualified Persons
Mr Vassilios Carellas (BSc (Hons), MAusIMM) is the Chief Operating Officer for
Arc Minerals and has sufficient experience relevant to the 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 under the
JORC Code (2012). Mr Carellas consents to the inclusion in this announcement
of the technical matters based on his information in the form and context in
which it appears.
Market Abuse Regulation (MAR) Disclosure
This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.
**ENDS**
For more information visit www.arcminerals.com (http://www.arcminerals.com) .
Contacts
Arc Minerals Ltd +44 (0) 20 7917 2942
Nick von Schirnding (Executive Chairman)
SP Angel (Nominated Adviser & Joint Broker) +44 (0) 20 3470 0470
Ewan Leggat / Adam Cowl
WH Ireland Limited (Joint Broker) +44 (0) 20 7220 1666
Harry Ansell / Katy Mitchell
Forward-looking Statements
This news release contains forward-looking statements that are based on the
Company's current expectations and estimates. Forward-looking statements are
frequently characterised by words such as "plan", "expect", "project",
"intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other
similar words or statements that certain events or conditions "may" or "will"
occur. Such forward-looking statements involve known and unknown risks,
uncertainties and other factors that could cause actual events or results to
differ materially from estimated or anticipated events or results implied or
expressed in such forward-looking statements. Such factors include, among
others: the actual results of current exploration activities; conclusions of
economic evaluations; changes in project parameters as plans continue to be
refined; possible variations in ore grade or recovery rates; accidents, labour
disputes and other risks of the mining industry; delays in obtaining
governmental approvals or financing; and fluctuations in metal prices. There
may be other factors that cause actions, events or results not to be as
anticipated, estimated or intended. Any forward-looking statement speaks only
as of the date on which it is made and, except as may be required by
applicable securities laws, the Company disclaims any intent or obligation to
update any forward-looking statement, whether as a result of new information,
future events or results or otherwise. Forward-looking statements are not
guarantees of future performance and accordingly undue reliance should not be
put on such statements due to the inherent uncertainty therein.
Appendix A
JORC Code, 2012 Edition - Table 1 Report
Section 1 Sampling Techniques and Data
Criteria JORC Code explanation Commentary
Sampling techniques · Nature and quality of sampling (eg cut channels, random chips, or Exploration work involved soil sampling, RAB, RC and Diamond drilling.
specific specialised industry standard measurement tools appropriate to the Drilling conditions are well understood and double tube core recovery was used
minerals under investigation, such as down hole gamma sondes, or handheld XRF as ground is competent enough for better core recoveries.
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.
RC and RAB Chips and DD Core samples are processed using Industry standard
· Aspects of the determination of mineralisation that are Material to practices of drying, crushing, splitting and pulverization at the ALS
the Public Report. Laboratory in South Africa. ALS Laboratories are an internationally accredited
global analytical services provider and their High Grade Aqua Regia ICP-AES
· In cases where 'industry standard' work has been done this would be with code ME-ICP41a was used to analyze these samples.
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.
Drilling techniques · Drill type (eg core, reverse circulation, open-hole hammer, rotary RAB and RC drilling was done by a reputable company that has been drilling in
air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or the area. A geological contractor was present at the drill rigs to monitor
standard tube, depth of diamond tails, face-sampling bit or other type, quality of drilling. Sample collection was done by the appointed contractor
whether core is oriented and if so, by what method, etc). reporting to client.
Diamond drilling was done using double tube core barrel and logging was done
on site to ensure 100% core recovery. Hole was collared using 6.5" Tricon bit
to case off unconsolidated overburden and then HQ and reduced to NQ size to
finish off the holes. Core was routinely oriented using a Reflex core
orientation tool.
Drill sample recovery · Method of recording and assessing core and chip sample recoveries and Core recoveries were measured after each run and any losses recorded on a
results assessed. standard log sheet. Core recoveries were generally greater than 90% . In one
interval through the ore zone, there was core loss through the mineralized
· Measures taken to maximise sample recovery and ensure representative interval and this hole had to be redrilled.
nature of the samples.
The nature of mineralization is such that core recovery and grade are related
· Whether a relationship exists between sample recovery and grade and as the variability of the ore minerals is high.
whether sample bias may have occurred due to preferential loss/gain of
fine/coarse material.
Logging · Whether core and chip samples have been geologically and Geological and geotechnical logging is done on standard logging to log RC
geotechnically logged to a level of detail to support appropriate Mineral chips and Core samples. The detail of information captured is sufficient to
Resource estimation, mining studies and metallurgical studies. support appropriate Mineral Resource Estimation.
· Whether logging is qualitative or quantitative in nature. Core (or Logged intervals are based on both qualitative identifications of geological
costean, channel, etc) photography. characteristics and semi-quantitative estimates of mineral abundance. All core
is photographed as wet and dry and stored as digital records before and after
· The total length and percentage of the relevant intersections logged. sampling.
Logging intervals are based on geological boundaries and or assigned nominal
length of one or one and half metres. The geological log incorporates
geotechnical parameters, lithology, weathering, alteration, veining and
geophysical magnetic susceptibility.
Electronic geological logs are created using Microsoft Excel logging templates
on laptop computers and saved. All geological logging to be stored in an
appropriate database software.
Sub-sampling techniques and sample preparation · If core, whether cut or sawn and whether quarter, half or all core Diamond sawn half core splits are cut. Split line is always checked that it is
taken. consistent with respect to orientation marks.
· If non-core, whether riffled, tube sampled, rotary split, etc and Samples undergo sample preparation (Drying, crushing, splitting and
whether sampled wet or dry. pulverizing) carried out by ALS Laboratories protocols.
· 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.
Quality of assay data and laboratory tests · The nature, quality and appropriateness of the assaying and All RC and Diamond drill samples were assayed for Copper using Aqua Regia
laboratory procedures used and whether the technique is considered partial or digestion and ICP-AES for other elements.
total.
During sampling Blanks and CRM's were inserted for QAQC protocols. These were
· For geophysical tools, spectrometers, handheld XRF instruments, etc, inserted on 1:20 samples. The Laboratories have also standard QAQC protocols
the parameters used in determining the analysis including instrument make and they employ when processing and analyzing the samples. This is adequate for
model, reading times, calibrations factors applied and their derivation, etc. quality assurance of the results obtained.
· 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.
Verification of sampling and assaying · The verification of significant intersections by either independent There are strong visual indications for the presence of minerals in the
or alternative company personnel. samples and the general geology in the area has been thoroughly studied to
give indications of formations that host mineralization. Significant
· The use of twinned holes. intersections are visually validated and the core and chip samples are sent to
an independent consultant who has been in the area for a long time to give his
· Documentation of primary data, data entry procedures, data opinion as a check.
verification, data storage (physical and electronic) protocols.
To date no twinning of holes has been done
· Discuss any adjustment to assay data.
All assay data is stored in a database on Laptops in an as is received basis
with no adjustment made to the returned data.
Location of data points · Accuracy and quality of surveys used to locate drill holes (collar The Botswana Map Grid system is utilized for all map generations.
and down-hole surveys), trenches, mine workings and other locations used in
Mineral Resource estimation. Drill holes were all surveyed with a gyro instrument and collar positions
recorded.
· Specification of the grid system used.
Down hole surveys were done every 30m down the hole.
· Quality and adequacy of topographic control.
The LIDAR data system provides all the topographic contour data in the area
Data spacing and distribution · Data spacing for reporting of Exploration Results. This will develop as the project progresses. It is still in the early stages
for defining patterns of drilling.
· Whether the data spacing and distribution is sufficient to establish
the degree of geological and grade continuity appropriate for the Mineral No composition of samples is being applied currently.
Resource and Ore Reserve estimation procedure(s) and classifications applied.
· Whether sample compositing has been applied.
Orientation of data in relation to geological structure · Whether the orientation of sampling achieves unbiased sampling of As this was maiden drilling experience, holes intersected the basement
possible structures and the extent to which this is known, considering the sandstone that is key in the area and interpretations have defined the
deposit type. structure in the area for future reference regarding orientation of holes.
· 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 core orientation has allowed for a general attitude of future holes and
consideration will be made to position holes' perpendicular to the strike of
the basement sandstone.
All diamond drill holes will have core orientation to assist in the
interpretation of mineralization and structure.
Sample security · The measures taken to ensure sample security. Appointed persons are the only ones allowed to access samples and permission
is obtained for anyone wanting to review samples. The sample load is still
small for a tighter security currently.
Audits or reviews · The results of any audits or reviews of sampling techniques and data. An independent consultant has reviewed the sampling techniques and data. No
issues have been raised.
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Criteria JORC Code explanation Commentary
Mineral tenement and land tenure status · Type, reference name/number, location and ownership including Arc Minerals Limited acquired a 75% interest in Alvis-Crest (Proprietary)
agreements or material issues with third parties such as joint ventures, Limited, the holder of two prospecting licenses (PL 135/2017 & PL
partnerships, overriding royalties, native title interests, historical sites, 162/2017) in Botswana's Kalahari Copper Belt ("KCB"), colloquially called the
wilderness or national park and environmental settings. Virgo Project/Licenses. The Virgo project is located in a emerging copper
district in the Kalahari district in close proximity of some larger
· The security of the tenure held at the time of reporting along with discoveries and cover an area of over 210km2. The Virgo licenses lie within
any known impediments to obtaining a licence to operate in the area. (PL 165/2017) and adjacent (PL 135/2017) to the highly prospective Central
Structural Corridor and within 10km and 50km of the Zone 5 and Banana Zone
copper projects respectively, known as the two largest copper projects on the
KCB.
Historically, two copper-nickel soil anomalies have already been recorded on
PL 135/2017 and PL 162/2017 and are approximately 3km and 2.5km in strike
length respectively. The largest of the two anomalies, located on PL 135/2017,
overlays an interpreted DKF-NPF contact, while a second more intermittent
anomaly may be linked to extensional faulting around the dome edge. The large
coherent anomaly on PL 162/2017, also appears to overlay the interpreted
DKF-NPF contact on the northern limb of a syncline.
The two prospects are situated in the Northwest District within the Kalahari
Copperbelt of Northwestern Botswana.
.
Exploration done by other parties · Acknowledgment and appraisal of exploration by other parties. Former Anglo American prospective ground covered by widely spaced soil
sampling that picked up copper in soils resulting in the Boseto-Khoemacau
mines today.
Several deposits exist within the vicinity and surrounding areas where future
mining might take place.
Acquiring the Virgo Prospecting licenses from Kopore Metals is the beginning
of a long journey for Alvis Crest in the Kalahari Copperbelt.
Within 20 kilometres is the Zone 5 deposit for Khoemacau Copper Mines to a
tune of 92 Million tonnes of copper ore at 2.2%Cu.
Within 120 kilometres is the Sandfire Motheo Project being developed with 67
Million tonnes of copper ore at 0.85%Cu.
Within 70 kilometres is the Banana deposit for Khoemacau Copper Mines with 187
million tonnes of copper ore at 0.80%Cu.
The Virgo project lie within highly prospective ground of the Kalahari
Copperbelt and needs to be explored further to realize the potential of copper
ore in the area.
Geology · Deposit type, geological setting and style of mineralization.. The Alvis Crest deposits are characterised as a structurally controlled
strata-bound sediment-hosted copper deposit. Copper-silver mineralisation
typically occurs at the stratigraphic and/or structural boundary between the
contact of the oxidised Ngwako Pan Sandstone Formation and reduced D'Kar
siltstone Formation. The boundary is both a chemically reduced and
structurally controlled trap environment. Host rocks are unconformably
overlain by unconsolidated Kalahari Sand and calcrete up to 60m thick. The
lower ductile siltstones and carbonaceous units of the D'Kar Formation are the
main host for most of the copper and silver mineralisation. The D'Kar rocks
are composed of shallow marine sediments deposited >981 +/- 3 Ma (millions
of years ago) and consist of finely laminated and chemically reduced mudstones
and siltstones intercalated with carbon rich limestone and thin lagoonal black
shale.
Economic grades are dominantly related to shearing, folding and tensional
failure along and close to the Ngwako Pan and D'Kar redox contact.
Disseminated and hydrothermal vein-hosted sulphide mineralisation styles
combine to produce continuity of high-grade copper and silver mineralisation
over tens of kilometres. These higher-grade copper sulphide zones typically
contain disseminated cleavage parallel lenticles and massive quartz-carbonate
and breccia veins hosting chalcopyrite, bornite and chalcocite mineralisation.
Sulphide assemblages are commonly zoned. The sequence is developed vertically
upward from the base of the D'Kar Formation and can be seen to develop
horizontally along strike at some deposits. The typical zonation sequence
consists of low sulphur, low iron, copper sulphides (chalcocite and bornite)
and passes upward with increasing iron content (chalcopyrite and pyrite). This
sulphide zonation coincides with copper solubility precipitating of low
soluble sulphides at the first reductant while chalcopyrite and pyrite remain
in solution.
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 drill hole collar
o elevation or RL (Reduced Level - elevation above sea level in metres) of the
drill hole collar
o dip and azimuth of the hole
o down hole length and interception depth
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 case.
BHID EASTING NORTHING RL BEARING DIP GRID LICENSE
ALV-DD-001a 727202 7703451 997 39.3 -59.6 UTM34S PL135/2017
ALV-DD-001b 727214 7703471 991 39.2 -59.8 UTM34S PL135/2017
ALV-RAB-001 726942 7703122 997 0 -90 UTM34S PL135/2017
ALV-RAB-002 727121 7703344 997 0 -90 UTM34S PL135/2017
ALV-RAB-003 727335 7703644 997 0 -90 UTM34S PL135/2017
ALV-RAB-007 726297 7703750 1002 0 -90 UTM34S PL135/2017
ALV-RAB-008 728031 7702905 1002 0 -90 UTM34S PL135/2017
ALV-RAB-009 728275 7703066 1002 0 -90 UTM34S PL135/2017
ALV-RAB-010 728193 7703007 1001 0 -90 UTM34S PL135/2017
ALV-RAB-011 726290 7703899 1001 0 -90 UTM34S PL135/2017
ALV-RAB-012 726286 7704049 1002 0 -90 UTM34S PL135/2017
ALV-RAB-013 726787 7704243 1001 0 -90 UTM34S PL135/2017
ALV-RAB-014 726760 7704543 1001 0 -90 UTM34S PL135/2017
ALV-RAB-015 726967 7704543 1001 0 -90 UTM34S PL135/2017
ALV-RAB-016 695032 7700888 1000 0 -90 UTM34S PL162/2017
ALV-RAB-017 695007 7700848 1000 0 -90 UTM34S PL162/2017
ALV-RC-001 726626 7704402 997 44.1 -59.1 UTM34S PL135/2017
ALV-RC-002 727296 7703583 997 39.3 -69.5 UTM34S PL135/2017
ALV-RC-003 727969 7702869 1002 54.8 -70.8 UTM34S PL135/2017
ALV-RC-004 693364.96 7699688.98 1000 329.5 -59.6 UTM34S PL162/2017
ALV-RC-005 695042 7700832 1000 327.9 -59.4 UTM34S PL162/2017
Downhole intersections using a low grade cut-off of 0.2% Cu
BHID FROM TO INTERSECTION
ALV-DD-001a 195.00 195.50 0.50m @ 0.28% Cu & 6 g/t Ag
ALV-RC-001 160.00 161.00 1.00m @ 0.32% Cu & 4 g/t Ag
ALV-RC-001 186.00 187.00 1.00m @ 0.46% Cu & 4 g/t Ag
ALV-RC-002 156.00 159.00 3.00 m @ 0.29% Cu & 4.33 g/t Ag
ALV-RC-003 125.00 126.00 1.00m @ 0.56% Cu & 11 g/t Ag
ALV-RC-003 138.00 139.00 1.00m @ 0.35% Cu & 2 g/t Ag
ALV-RC-003 143.00 147.00 4.00m @ 0.29% Cu & 6.50 g/t Ag
ALV-RC-004 108.00 109.00 1.00m @ 0.49% Cu @ 5 g/t Ag
ALV-RC-005 83.00 86.00 3.00m @ 0.92% Cu & 20 g/t Ag
ALV-RAB-017 24.00 27.00 3.00m @ 1.45% Cu & 9.33 g/t Ag
Data aggregation methods · In reporting Exploration Results, weighting averaging techniques, Exploration results are reported within distinct geological boundaries of the
maximum and/or minimum grade truncations (eg cutting of high grades) and host rocks. The grades are reported as given by the analytical reports with
cut-off grades are usually Material and should be stated. sample length as support of the weight of the sample.
· 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.
Relationship between mineralisation widths and intercept lengths · These relationships are particularly important in the reporting of Drill intercepts are reported as downhole length. As much as is practical,
Exploration Results. holes are and will be designed to intersect veins or mineralized horizons at
around 60 degrees to the mineralized unit. This will allow a better conversion
· If the geometry of the mineralisation with respect to the drill hole to true width of the horizon.
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').
Diagrams · Appropriate maps and sections (with scales) and tabulations of Refer to figures and tables in the body of the release.
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.
Balanced reporting · Where comprehensive reporting of all Exploration Results is not Refer to the drill hole information tabulated above
practicable, representative reporting of both low and high grades and/or
widths should be practiced to avoid misleading reporting of Exploration
Results.
Other substantive exploration data · Other exploration data, if meaningful and material, should be None except plans to continue further drilling after a planned IP survey is
reported including (but not limited to): geological observations; geophysical conducted in the area.
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.
Further work · The nature and scale of planned further work (eg tests for lateral Plans to conduct an IP survey over two potential soil copper nickel anomalies
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.
Section 3 Estimation and Reporting of Mineral Resources
Not Applicable
Section 4 Estimation and Reporting of Ore Reserves
Not Applicable
Appendix B - Glossary of Technical Terms
"anomaly or anomalous" something in mineral exploration that geologists interpret as deviating from
what is standard, normal, or expected.
"assay" The laboratory test conducted to determine the proportion of a mineral within
a rock or other material. For copper, usually reported as percentage which is
equivalent to percentage of the mineral (i.e. copper) per tonne of rock.
"azimuth" the "compass direction" refers to a geographic bearing or azimuth as measured
by a magnetic compass, in true or magnetic north.
"bornite" Bornite, also known as peacock ore, is a copper sulphide mineral with the
formula Cu(5)FeS(4).
"breccia" Breccia is a rock classification, comprises millimetre to metre-scale rock
fragments cemented together in a matrix, there are many sub-classifications of
breccias.
"chalcocite" Chalcocite is a copper sulphide mineral with the formula Cu(2)S and is an
important copper ore mineral. It is opaque and dark-gray to black with a
metallic luster.
"chalcopyrite" Chalcopyrite is a copper sulphide mineral with formula CuFeS(2). It has a
brassy to golden yellow colour.
"chargeability" Chargeability is a physical property related to conductivity. Chargeability is
used to characterise the formation and strength of the induced polarisation
within a rock, under the influence of an electric field, suggesting sulphide
mineralisation at depth.
"covellite" Covellite is a copper sulphide mineral with the formula CuS. This indigo blue
mineral is ubiquitous in some copper ores.
"diamond drilling" A drilling method in which penetration is achieved through abrasive cutting by
rotation of a diamond encrusted drill bit. This drilling method enables
collection of tubes of intact rock (core) and when successful gives the best
possible quality samples for description, sampling and analysis of an ore body
or mineralised structure.
"dip" A line directed down the steepest axis of a planar structure including a
planar ore body or zone of mineralisation. The dip has a measurable direction
and inclination from horizontal.
"geochemical" Refers to geological information using measurements derived from chemical
analysis
"geophysical" Refers to geological information using unit measurements derived from the use
of magnetic and electrical readings
"geophysical techniques" include the exploration of an area by exploiting differences in physical
properties of different rock types. Geophysical methods include seismic,
magnetic, gravity, induced polarisation and other techniques; geophysical
surveys can be undertaken from the ground or from the air
"gossan" is an iron-bearing weathered product that usually overlies a sulphide deposit
"grab sample" are samples of rock material collected from a small area, often just a few
pieces or even a single piece of rock "grabbed" from a face, dump or outcrop
or roughly 2-5kg. These are common types of rock samples collected when
conducting mineral exploration. The sample usually consists of material that
is taken to be representative of a specific type of rock or mineralisation.
"grade" The proportion of a mineral within a rock or other material. For copper
mineralisation this is usually reported as % of copper per tonne of rock.
"g/t" grams per tonne; equivalent to parts per million ('ppm')
"hematite" Hematite is the mineral form of iron(III) oxide (Fe(2)O(3)), one of several
iron oxides. Magnetite alteration is also typically associate with porphyry
copper systems, at or close to the central core.
"Indicated Resource" An "Indicated Mineral Resource" is that part of a Mineral Resource for which
quantity, grade or quality, densities, shape and physical characteristics, can
be estimated with a level of confidence sufficient to allow the appropriate
application of technical and economic parameters, to support mine planning and
evaluation of the economic viability of the deposit. The estimate is based on
detailed and reliable exploration and testing information gathered through
appropriate techniques from locations such as outcrops, trenches, pits,
workings and drill holes that are spaced closely enough for geological and
grade continuity to be reasonably assumed.
"Inferred Resource" An "Inferred Mineral Resource" is that part of a Mineral Resource for which
quantity and grade or quality can be estimated on the basis of geological
evidence and limited sampling and reasonably assumed, but not verified,
geological and grade continuity. The estimate is based on limited information
and sampling gathered through appropriate techniques from locations such as
outcrops, trenches, pits, workings and drill holes.
"Induced Polarisation Geophysics" Induced polarisation (IP) is a geophysical survey used to identify the
electrical chargeability of subsurface materials, such as sulphides. The
survey involves an electric current that is transmitted into the subsurface
through two electrodes, and voltage is monitored through two other electrodes.
"intercept" Refers to a sample or sequence of samples taken across the entire width or an
ore body or mineralised zone. The intercept is described by the entire
thickness and the average grade of mineralisation.
"JORC Code" The Australasian Code for Reporting of Exploration Results, Mineral Resources
and Ore Reserves ('the JORC Code') is a professional code of practice that
sets minimum standards for Public Reporting of minerals Exploration Results,
Mineral Resources and Ore Reserves.
"K" The element potassium, abundance on surface can be inferred from radiometric
surveys
"Magnetics" Rocks are made up of different minerals and the magnetic properties of a rock
depends on the amount and type of iron rich minerals it contains. Earth's
magnetic field interacts with these iron rich minerals to generate variations
in the magnetic field. Measuring and mapping these variations allows
remotely mapping of the distribution and patterns of magnetic rocks and, as a
result, map the subsurface geology
"magnetite" Magnetite is main iron ore mineral, with chemical formula Fe(3)O(4). Magnetite
is ferromagnetic, and it is attracted to a magnet and can be magnetized to
become a permanent magnet itself.
"massive" In a geological sense, refers to a zone of mineralisation that is dominated by
sulphide minerals. The sulphide-mineral-rich material can occur in
centimetre-scale, metre-scale or in tens of metres wide veins, lenses or
sheet-like bodies containing sphalerite, galena, and / or chalcopyrite etc.
"Measured Resource" A "Measured Mineral Resource" is that part of a Mineral Resource for which
quantity, grade or quality, densities, shape, and physical characteristics are
so well established that they can be estimated with confidence sufficient to
allow the appropriate application of technical and economic parameters, to
support production planning and evaluation of the economic viability of the
deposit. The estimate is based on detailed and reliable exploration, sampling
and testing information gathered through appropriate techniques from locations
such as outcrops, trenches, pits, workings and drill holes that are spaced
closely enough to confirm both geological and grade continuity.
"Mineral Resource" A "Mineral Resource" is a concentration or occurrence of diamonds, natural
solid inorganic material, or natural solid fossilised organic material
including base and precious metals, coal, and industrial minerals in or on the
Earth's crust in such form and quantity and of such a grade or quality that it
has reasonable prospects for economic extraction. The location, quantity,
grade, geological characteristics and continuity of a Mineral Resource are
known, estimated or interpreted from specific geological evidence and
knowledge.
"mineralisation" In geology, mineralisation is the deposition of economically important metals
(copper, gold, lead, zin etc) that in some cases can be in sufficient quantity
to form mineral ore bodies.
"open pit mining" A method of extracting minerals from the earth by excavating downwards from
the surface such that the ore is extracted in the open air (as opposed to
underground mining).
"outcrop" A section of a rock formation or mineral vein that appears at the surface of
the earth. Geologists take direct observations and samples from outcrops,
used in geologic analysis and creating geologic maps. In situ (in place)
measurements are critical for proper analysis of the geology and
mineralisation of the area under investigation.
"polymict" A geology term, often applied to breccias or conglomerates, which identifies
the composition as consisting of fragments of several different rock types.
"Preliminary Economic Assessment" NI 43-101 defines a PEA as "a study, other than a pre-feasibility study or
feasibility study, which includes an economic analysis of the potential
viability of mineral resources".
"Pyrrhotite" Pyrrhotite is an iron sulfide (https://en.wikipedia.org/wiki/Iron_sulfide)
mineral (https://en.wikipedia.org/wiki/Mineral) with the formula Fe(1-x)S
(x = 0 to 0.2). It is a nonstoichiometric
(https://en.wikipedia.org/wiki/Nonstoichiometric_compound) variant of FeS,
the mineral known as troilite (https://en.wikipedia.org/wiki/Troilite) .
Pyrrhotite is also called magnetic pyrite
(https://en.wikipedia.org/wiki/Pyrite)
"Radiometrics" The radiometric, or gamma-ray spectrometric method is a geophysical process
used to estimate concentrations of the radioelements potassium, uranium and
thorium by measuring the gamma-rays which the radioactive isotopes of these
elements emit during radioactive decay
"sediments" Sedimentary rocks formed by the accumulation of sediments. There are three
types, Clastic, Chemical and Organic sedimentary rocks.
"sphalerite" Sphalerite is a zinc sulphide in crystalline form but almost always contains
variable iron, with formula (Zn,Fe)S. It can have a yellowish to honey brown
or black colour.
"supergene" Supergene ore processes occur near surface, and form deposits of secondary
minerals, such as malachite, azurite, chalcocite, covellite, digenite, etc.
"surface rock chip samples" Rock chip samples approximately 2kg in size that are typically collected from
surface outcrops exposed along rivers and mountain ridgelines.
"syncline" a trough of stratified rock in which the beds dip toward each other from
either side.
"Th" The element thorium, abundance on surface can be inferred from radiometric
surveys
"U" The element uranium, abundance on surface can be inferred from radiometric
surveys
"veins" A vein is a sheet-like or anastomosing fracture that has been infilled with
mineral ore (chalcopyrite, covellite etc) or mineral gangue (quartz, calcite
etc) material, within a rock. Veins form when minerals carried by an aqueous
solution within the rock mass are deposited through precipitation and infill
or coat the fracture faces.
"volcanics" Volcanic rock such as andesite or basalt that is formed from magma erupted
from a volcano, or hot clastic material that erupts from a volcano and is
deposited as volcaniclastic or pyroclastics.
"XRF" Instrument to determine the chemistry of a sample by measuring the fluorescent
(or secondary) X-ray emitted from a sample when it is excited by a primary
X-ray source
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