REG - Arc Minerals Limited - Exploration Programme / Anglo American Update
15/08/2022 13:45
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RNS Number : 0618W Arc Minerals Limited 15 August 2022
15 August 2022
Arc Minerals Ltd
('Arc' or the 'Company')
Maiden Exploration Drilling Programme Commenced - Kalahari Copper Belt,
Botswana
Update on Anglo American Transaction
Arc Minerals the Africa focussed copper company is pleased to announce the
commencement of its maiden exploration drilling programme at its Virgo Project
in Botswana. This maiden drill programme is designed to test geochemical
anomalies identified in the Virgo licenses located within the highly
prospective Central Structural Corridor of the Kalahari Copper Belt ('KCB').
The initial programme will start off with shallow percussion holes that will
be followed up by reverse circulation and diamond core drill holes targeting
the interpreted Ngwako Pan / D'Kar Formation contacts in these licenses.
Highlights
· Soil geochemical anomalies overlay contact geology interpreted from
magnetic survey
· Anomalies extend for 3km and 2.5km along the interpreted contact
respectively
· Relatively shallow Kalahari Sands cover expected
Nick von Schirnding, Executive Chairman of Arc Minerals, commented:
"The Kalahari Copper Belt is increasingly becoming one of the most prospective
copper belts and I am delighted that we have now commenced with our maiden
drill programme. The initial percussion holes will be used to define the
location of the interpreted Ngwako Pan and D'Kar Formation contact, following
which this contact will be drill tested.
"With respect to the Anglo American transaction in Zambia, substantial
progress has been made with providing the requested information as part of the
due diligence process. However, this is ongoing, in part impacted due to
recent temporary closures of the Mining Cadastre by the Zambian Ministry of
Mines and the confirmation of certain information relating to the exploration
licences. Accordingly, a second 90 day exclusivity period will commence to
allow sufficient time for the conclusion of the due diligence and the
negotiation and execution of the Joint Venture Documents as contemplated in
the original announcement of 12 May 2022 relating to the transaction."
Background to the Exploration Drill Programme
The soil geochemistry survey across the Virgo Project ("Virgo") that consists
of PL 135/2017 & PL 162/2017 license areas, provided encouraging results
for potential mineralisation along the DKF-NPF contact.
PL135/2017 - Interpreted geology, Copper in soils assay results and Nickel in
Soils Contours
PL162/2017 - Interpreted geology, Copper in soils assay results and Nickel in
Soils Contours
At each of the license areas, the drill hole programme will initially comprise
of an initial three hole Percussion/Rotary Air Blast 'RAB' programme over the
centre of the soil anomaly to identify the lithologies below the Kalahari sand
cover and confirm the presence of the D'Kar - Ngwako Pan contact. A further
three hole Reverse Circulation (RC') drill programme spaced over 1km apart is
planned to confirm the lateral extents of this contact, which will then be
followed by Diamond Core drilling ('DD') to core through the contact.
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.
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 2012 Edition: Table 1 - Section 1 Sampling Techniques and
Data
JORC Code, 2012 Edition - Table 1 Report
Section 1 Sampling Techniques and Data (Criteria in this section apply to all succeeding sections)
Criteria JORC Code explanation Commentary
Sampling techniques · Nature and quality of sampling (eg cut channels, random chips, or · Soil sampling was carried out along traverses using 100m sample
specific specialised industry standard measurement tools appropriate to the intervals
minerals under investigation, such as down hole gamma sondes, or handheld XRF
instruments, etc). These examples should not be taken as limiting the broad · Soil samples were taken at an average depth of 10cm from
meaning of sampling. uncontaminated and undisturbed sites.
· Samples were collected in the dry
· Samples were sieved on site to -1800mm and sealed in transparent
plastic sample envelopes
· Soil samples were submitted to Intertek Laboratories in Perth,
· Include reference to measures taken to ensure sample representivity Australia for analysis.
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.
Drilling techniques · Drill type (eg core, reverse circulation, open-hole hammer, rotary · No drilling to date on the Virgo Project Licenses
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).
Drill sample recovery · Method of recording and assessing core and chip sample recoveries and · No drilling to date on the Virgo Project Licenses
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 · No drilling to date on the Virgo Project Licenses
whether sample bias may have occurred due to preferential loss/gain of
fine/coarse material.
· No drilling to date on the Virgo Project Licenses
Logging · Whether core and chip samples have been geologically and · No drilling to date on the Virgo Project Licenses
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.
· No drilling to date on the Virgo Project Licenses
· The total length and percentage of the relevant intersections logged.
· No drilling to date on the Virgo Project Licenses
Sub-sampling techniques and sample preparation · If core, whether cut or sawn and whether quarter, half or all core · No drilling to date on the Virgo Project Licenses
taken.
· If non-core, whether riffled, tube sampled, rotary split, etc and
whether sampled wet or dry. · No drilling to date on the Virgo Project Licenses
· For all sample types, the nature, quality and appropriateness of the
sample preparation technique.
· Sample preparation techniques appropriate for soil sampling and
· Quality control procedures adopted for all sub-sampling stages to analytical methods, conducted to Intertek specified guidelines
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 · 20% QA/QC blanks, standards and/or duplicates are inserted on site
duplicate/second-half sampling. while sampling further standards are inserted by the laboratory
· Whether sample sizes are appropriate to the grain size of the
material being sampled.
· Duplicated collected, assayed and checked
· Samples collected in accordance to Intertek specified guidelines
Quality of assay data and laboratory tests · The nature, quality and appropriateness of the assaying and · Partial selective digests are carried out on soil media to detect
laboratory procedures used and whether the technique is considered partial or mineralisation under cover in areas where conventional geochemistry may be
total. ineffective. Buried ore bodies may release trace levels of metals into
groundwater which are inferred to travel vertically in the overlying substrate
and accumulate in the top portion of the soil profile where they are added to
the background metal concentrations.
· Targeted metal ions generally reside on the surfaces of soil
particles requiring only weak selective digest to remove them, thus producing
a superior anomaly to background contrast. This differentiates partial digests
from stronger leaches which also extract occluded substrate metal ions that
contribute to background levels of metal, resulting in an inferior anomaly
contrast.
· A range of partial digests are offered designed to target certain
element suites and specific element species.
· TL1 uses an alkaline cyanide digest.
Detection limit for Cu & Pb is 0.02ppm and for Ag & Zn 0.2ppm
· For geophysical tools, spectrometers, handheld XRF instruments, etc,
the parameters used in determining the analysis including instrument make and · XRF not used
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.
· Accuracy and precision measured by Intertek
Verification of sampling and assaying · The verification of significant intersections by either independent · QA/QC checks are run as normal laboratory standards, blanks and
or alternative company personnel. duplicates. primary data is available in open file reports in the form of
scanned hard copy geological logs, sections of sampled intervals and assays
· The use of twinned holes. (EZ)
· Documentation of primary data, data entry procedures, data · Data entry procedures standardized in SOP, data checking and
verification, data storage (physical and electronic) protocols. verification routine
· Discuss any adjustment to assay data. · Data storage on partitioned drives and backed up
Location of data points · Accuracy and quality of surveys used to locate drill holes (collar · A hand-held GPS is used for all sampling locations with track logs
and down-hole surveys), trenches, mine workings and other locations used in and points plotted to check for consistency and accuracy during soil sampling.
Mineral Resource estimation.
· Specification of the grid system used.
· Quality and adequacy of topographic control.
Data spacing and distribution · Data spacing for reporting of Exploration Results. · Data spacing was based on geology for initial drilling
reconnaissance.
· Whether the data spacing and distribution is sufficient to establish
the degree of geological and grade continuity appropriate for the Mineral · The data spacing is appropriate for initial orientation and
Resource and Ore Reserve estimation procedure(s) and classifications applied. reconnaissance soil sampling.
· Whether sample compositing has been applied. · No drilling on the Virgo Project to date
Orientation of data in relation to geological structure · Whether the orientation of sampling achieves unbiased sampling of · Soil sampling grids were orientated with reference to interpreted
possible structures and the extent to which this is known, considering the geological lithologies and structures.
deposit type.
· If the relationship between the drilling orientation and the
orientation of key mineralised structures is considered to have introduced a · No drilling to date on the Virgo Project Licenses
sampling bias, this should be assessed and reported if material.
Sample security · The measures taken to ensure sample security. · Sample bags were tagged, logged, boxed, securely sealed and
transported to Intertek Laboratories in Perth by registered couriers.
· No drilling to date on the Virgo Project Licenses
Audits or reviews · The results of any audits or reviews of sampling techniques and data. · All sampling procedures are documented and according to industry
standard practice
· No drilling to date on the Virgo Project Licenses
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 · The Botswana Project area EPL's are held by three wholly owned (100%)
agreements or material issues with third parties such as joint ventures, locally registered companies.
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 · The company expects to apply for renewal or extension of Licences as
any known impediments to obtaining a licence to operate in the area. required.
Exploration done by other parties · Acknowledgment and appraisal of exploration by other parties. · Limited previous exploration was conducted by DML, Khoemacau and MOD
and comprised soil sampling.
Geology · Deposit type, geological setting and style of mineralisation. · The regional geological setting underlying all the Licences is
interpreted as Neoproterozoic meta sediments, deformed during the Pan African
Damaran Orogen into a series of NE trending structural domes cut by local
structures. The style of mineralisation expected comprises stratabound and
structurally controlled disseminated and vein hosted Cu/Ag mineralisation
Drill hole Information · A summary of all information material to the understanding of the · No drilling on the Virgo Project to date
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
· No drilling on the Virgo Project to date
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.
Data aggregation methods · In reporting Exploration Results, weighting averaging techniques, · No drilling on the Virgo Project to date
maximum and/or minimum grade truncations (eg cutting of high grades) and
cut-off grades are usually Material and should be stated.
· Where aggregate intercepts incorporate short lengths of high grade · No drilling on the Virgo Project to date
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.
· No drilling on the Virgo Project to date
· 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 · No drilling on the Virgo Project to date
Exploration Results.
· If the geometry of the mineralisation with respect to the drill hole
angle is known, its nature should be reported. · No drilling on the Virgo Project to date
· 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'). · No drilling on the Virgo Project to date
Diagrams · Appropriate maps and sections (with scales) and tabulations of · Appropriate maps and images demonstrating the licence locations and
intercepts should be included for any significant discovery being reported regional setting together with the continental geo-tectonic setting are
These should include, but not be limited to a plan view of drill hole collar included in the body of the accompanying announcement.
locations and appropriate sectional views.
Balanced reporting · Where comprehensive reporting of all Exploration Results is not · The accompanying document is considered to be a balanced and
practicable, representative reporting of both low and high grades and/or representative report.
widths should be practiced to avoid misleading reporting of Exploration
Results.
Other substantive exploration data · Other exploration data, if meaningful and material, should be · Reprocessing of historic Botswana Geological Institute airborne
reported including (but not limited to): geological observations; geophysical geophysics was completed over portions of the Ghanzi-Chobe belt.
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 · Any further work on the Licences will be dependent upon results from
extensions or depth extensions or large-scale step-out drilling). the maiden exploration drill programme about to commence.
· 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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