REG - Atlantic Lithium Ltd - Final Assay Results and New High-Grade pegmatites
12/01/2023 07:01
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RNS Number : 5133M Atlantic Lithium Limited 12 January 2023
12 January 2023
Final Resource Drilling Results Received
New Mineralised Pegmatites Confirmed
Ewoyaa Lithium Project Ghana, West Africa
Atlantic Lithium Limited (AIM: ALL, OTC: ALLIF, ASX: A11 "Atlantic Lithium" or
the "Company"), the funded African-focussed lithium exploration and
development company targeting to deliver Ghana's first lithium mine, is
pleased to announce final assay results from the resource and exploration
drilling programme completed at the Ewoyaa Lithium Project ("Ewoyaa" or the
"Project") in Ghana, West Africa.
HIGHLIGHTS:
Ø Final assay results received for a further 10,052m of exploration and
infill diamond core ("DD") drilling and reverse circulation ("RC") drilling
completed at the Ewoyaa Project, part of the now completed resource evaluation
and exploration RC and DD programme.
Ø Newly reported assay results confirm new mineralised pegmatites at the
Grasscutter North, Kaampakrom North and Assan targets, outside the currently
defined 30.1Mt @ 1.26% Li(2)O Ewoyaa JORC (2012) Compliant Mineral Resource
Estimate ("MRE" or the "Resource").
Ø Multiple high-grade drill intersections reported at the Kaampakrom North,
Grasscutter North, Anokyi and Grasscutter West targets, including highlights
of:
o GRC0825: 36m at 1.23% Li(2)O from 42m
o GDD0102A: 22.2m at 1.62% Li(2)O from 73.3m
o GRC0837: 20m at 1.6% Li(2)O from 44m
o GDD0103: 15.1m at 1.24% Li(2)O from 55.4m
o GRC0842: 12m at 1.55% Li(2)O from 93m
o GRC0839: 13m at 1.35% Li(2)O from 99m
o GRC0850: 12m at 1.24% Li(2)O from 96m
o GRC0341: 12m at 1.03% Li(2)O from 134m
o GRC0844: 7m at 1.69% Li(2)O from 162m
o GRC0872: 8m at 1.48% Li(2)O from 34m
Ø All assay results now reported for the total approximate 47,000m drilling
programme completed.
Ø Resource upgrade targeted for Q1 2023; to inform Definitive Feasibility
Study ("DFS") targeted for completion mid-2023.
Ø Recently announced processing plant FEED engineering contract (refer RNS of
13 December 2022) awarded to Primero to optimise the Project's flow sheet,
identify long lead items, maximise the Project's long-term profitability,
reduce execution risk and ultimately support the advancement of the Project
towards becoming a financially and operationally robust lithium-producing
mine.
Ø Recently announced Pre-Feasibility Study (refer RNS of 22 September 2022)
delivers exceptional financial outcomes for a 2Mtpa operation, producing an
average c. 255,000tpa of 6% Li(2)O spodumene concentrate ("SC6") over a
12.5-year operation:
o LOM revenues exceeding US$4.84bn, Post-tax NPV(8) of US$1.33bn, IRR of
224% over 12.5 years
o US$125m capital cost with industry-leading payback period of <5 months
o C1 cash operating costs of US$278 per tonne of 6% lithium spodumene
concentrate Free on Board ("FOB") Ghana Port, after by-product credits
o Average Life of Mine ("LOM") EBITDA of US$248m per annum
o 18.9Mt at 1.24% Li(2)O Maiden Ore Reserve
o Average annualised US$1,359/dry metric tonne SC6 pricing used
Commenting on the Company's latest progress, Lennard Kolff, Interim Chief
Executive Officer of Atlantic Lithium, said:
"Drilling continues to deliver high-grade drill intersections outside the
current MRE.
"This last batch of results has delivered multiple near-surface drill
intersections in new pegmatites defined outside of the resource footprint at
the Kaampakrom North and Grasscutter North targets including highlights of 36m
at 1.23% Li(2)O from 42m and 20m at 1.62% Li(2)O from 44m.
"Drilling has also returned high-grade, near-surface results at the Assan
target approximately 3km north-east of the northern-most current pit design
including highlights of 6m at 1.49% Li(2)O from 66m and 6m at 1.44% Li(2)O
from 45m, demonstrating further potential within the mineralised pegmatite
swarm.
"We have now reported all assay results for the approximate 47,000m drilling
programme, with a Resource upgrade targeted for Q1 2023 and a DFS targeted for
completion mid-2023.
"With the Pre-Feasibility Study delivered, the Mining Licence application
submitted, the FEED engineering contract awarded and the funding agreement
with our partner Piedmont Lithium in place, we feel the Company is ideally
positioned to benefit from the ongoing lithium demand expected over the coming
years."
New Drilling Results:
All remaining assay results have been received for an additional 10,052m of RC
and DD drilling from the completed drill programme at the Ewoyaa Project.
Multiple high-grade drill intersections are reported for exploration drilling
results outside of the currently defined Resource at the Kaampakrom North,
Grasscutter North and Assan targets as well as infill and metallurgical holes
within the current MRE (refer Table 1, Appendix 1 and Appendix 2).
Table 1: Drill intersection highlights at greater than 8 Li x m, reported at a
0.4% Li(2)O cut-off and maximum of 4m of internal dilution.
Hole ID Target Deposit From m To m Interval m Hole depth m assay Li(2)O % Intersection metal content
Li x m
GRC0825 Exploration drilling Kaampakrom N 42 78 36.0 120 1.23 GRC0825: 36m at 1.23% Li2O from 42m 44.28
GDD0102A Metallurgical Drilling Kaampakrom W 73.3 95.5 22.2 150.3 1.62 GDD0102A: 22.2m at 1.62% Li2O from 73.3m 35.96
GRC0837 Exploration Drilling Grasscutter N 44 64 20.0 90 1.59 GRC0837: 20m at 1.6% Li2O from 44m 31.86
GDD0103 Metallurgical Drilling Grasscutter W 55.4 70.5 15.1 120.4 1.24 GDD0103: 15.1m at 1.24% Li2O from 55.4m 18.72
GRC0842 Exploration Drilling Grasscutter N 93 105 12.0 125 1.55 GRC0842: 12m at 1.55% Li2O from 93m 18.59
GRC0839 Exploration Drilling Grasscutter N 99 112 13.0 140 1.34 GRC0839: 13m at 1.35% Li2O from 99m 17.46
GRC0850 Exploration Drilling Grasscutter N 96 108 12.0 199 1.24 GRC0850: 12m at 1.24% Li2O from 96m 14.83
GRC0341 IND re-entry Anokyi 134 146 12 170 1.03 GRC0341: 12m at 1.03% Li2O from 134m 12.35
GRC0844 Exploration Drilling Grasscutter N 162 169 7.0 220 1.68 GRC0844: 7m at 1.69% Li2O from 162m 11.79
GRC0872 EXPL Kaampakrom 34 42 8.00 70.00 1.47 GRC0872: 8m at 1.48% Li2O from 34m 11.77
GRC0843 Exploration Drilling Grasscutter N 132 146 14.0 162 0.77 GRC0843: 14m at 0.77% Li2O from 132m 10.73
GRC0848 Exploration Drilling Grasscutter N 137 146 9.0 166 1.03 GRC0848: 9m at 1.03% Li2O from 137m 9.26
GRC0856 Exploration Drilling Assan 66 72 6.0 88 1.48 GRC0856: 6m at 1.49% Li2O from 66m 8.90
GRC0465 IND re-entry Anokyi 129 137 8.00 168.00 1.09 GRC0465: 8m at 1.1% Li2O from 129m 8.75
GRC0853 Exploration Drilling Assan 45 51 6.0 100 1.44 GRC0853: 6m at 1.44% Li2O from 45m 8.64
GRC0854 Exploration Drilling Assan 73 79 6.0 114 1.34 GRC0854: 6m at 1.34% Li2O from 73m 8.01
Exploration drilling results fall outside the current 30.1Mt at 1.26% Li(2)O
Resource on newly defined pegmatites at the Kaampakrom North, Grasscutter
North and Assan targets and demonstrates further resource scale potential at
the Ewoyaa Project (refer Figure 1, Figure 2 and Figure 3).
Exploration drilling results confirm near-surface mineralisation on newly
defined pegmatites within trucking distance of the currently defined mine
design. Furthermore, new drilling results demonstrate a further 3km strike
extension of prospective lithium pegmatite vein swarms towards the north-east
of the current project footprint (refer Figure 1).
Sample preparation was completed by Intertek Ghana and assay by Intertek Perth
with all reported results passing QA/QC protocols, providing confidence in
reported results.
Figure 1: Location of reported assay results with highlight drill
intersections.
Figure 2: Cross-section A-A' showing assay results received for GRC0825 and
GRC0823 at the Kaampakrom North target.
Figure 3: Cross-section B-B' assay results received for GRC0837 and GRC0839 at
the Grasscutter North target.
Competent Persons
Information in this report relating to the exploration results is based on
data reviewed by Mr Lennard Kolff (MEcon. Geol., BSc. Hons ARSM), Chief
Geologist of the Company. Mr Kolff is a Member of the Australian Institute of
Geoscientists who has in excess of 20 years' experience in mineral exploration
and is a Qualified Person under the AIM Rules. Mr Kolff consents to the
inclusion of the information in the form and context in which it appears.
Information in this report relating to Mineral Resources was compiled by Shaun
Searle, a Member of the Australian Institute of Geoscientists. Mr Searle has
sufficient experience that is relevant to the style of mineralisation and type
of deposit under consideration and to the activity being undertaken to qualify
as a Competent Person as defined in the 2012 Edition of the 'Australasian Code
for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr
Searle is a director of Ashmore. Ashmore and the Competent Person are
independent of the Company and other than being paid fees for services in
compiling this report, neither has any financial interest (direct or
contingent) in the Company. Mr Searle consents to the inclusion in the report
of the matters based upon the information in the form and context in which it
appears.
The reported Ore Reserves have been compiled by Mr Harry Warries. Mr Warries
is a Fellow of the Australasian Institute of Mining and Metallurgy and an
employee of Mining Focus Consultants Pty Ltd. He 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 a Competent
Person as defined in the 'Australasian Code for Reporting of Mineral Resources
and Ore Reserves' of December 2012 ("JORC Code") as prepared by the Joint Ore
Reserves Committee of the Australasian Institute of Mining and Metallurgy, the
Australian Institute of Geoscientists and the Minerals Council of Australia.
Mr Warries gives Atlantic Lithium Limited consent to use this reserve estimate
in reports.
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.
For any further information, please contact:
Atlantic Lithium Limited Tel: +61 2 8072 0640
Lennard Kolff (Interim CEO)
Amanda Harsas (Finance Director and Company Secretary)
www.atlanticlithium.com.au (http://www.atlanticlithium.com.au)
atlantic@yellowjerseypr.com (mailto:atlantic@yellowjerseypr.com)
SP Angel Corporate Finance LLP Tel: +44 (0)20 3470 0470
Nominated Adviser
Jeff Keating
Charlie Bouverat
Canaccord Genuity Limited Tel: +44 (0) 20 7523 4500
Joint Company Broker
Raj Khatri
James Asensio
Harry Rees
Liberum Capital Limited Tel: +44 (0) 20 3100 2000
Joint Company Broker
Scott Mathieson
Edward Thomas
Kane Collings
Yellow Jersey PR Limited Tel: +44 (0)20 3004 9512
Henry Wilkinson
Charles Goodwin
Bessie Elliot
Notes to Editors:
About Atlantic Lithium
www.atlanticlithium.com.au (http://www.atlanticlithium.com.au/)
Atlantic Lithium (formerly "IronRidge Resources") is an AIM and ASX-listed
lithium company advancing a portfolio of lithium projects in Ghana and Côte
d'Ivoire through to production.
The Company's flagship project, the Ewoyaa Project in Ghana, is a significant
lithium spodumene pegmatite discovery on track to become Ghana's first
lithium-producing mine. The Company signed a funding agreement with Piedmont
Lithium Inc. for US$103m towards the development of the Ewoyaa Project. Based
on the Pre-Feasibility Study, the Ewoyaa Project has indicated Life of Mine
revenues exceeding US$4.84bn, producing a spodumene concentrate via simple
gravity only process flowsheet.
Atlantic Lithium holds 560km(2) & 774km(2) of tenure across Ghana and
Côte d'Ivoire respectively, comprising significantly under-explored, highly
prospective licenses.
Appendix 1 - New drill intersections reported in hole ID order, reported at a
0.4% Li(2)O cut-off and maximum 4m of internal dilution.
Hole ID Target Deposit From m To m Interval m Hole depth m Assay Li2O% Intersection Comment metal content Li x m
GRC0825 EXPL Kaampakrom 42 78 36.0 120.0 1.23 GRC0825: 36m at 1.23% Li2O from 42m 44.28
GDD0102A MET Kaampakrom W 73.3 95.5 22.2 150.3 1.62 GDD0102A: 22.2m at 1.62% Li2O from 73.3m 35.96
GRC0837 EXPL Grasscutter N 44 64 20.0 90.0 1.59 GRC0837: 20m at 1.6% Li2O from 44m 31.86
GDD0103 MET Grasscutter W 55.4 70.5 15.1 120.4 1.24 GDD0103: 15.1m at 1.24% Li2O from 55.4m 18.72
GRC0842 EXPL Grasscutter N 93 105 12.0 125.0 1.55 GRC0842: 12m at 1.55% Li2O from 93m 18.59
GRC0839 EXPL Grasscutter N 99 112 13.0 140.0 1.34 GRC0839: 13m at 1.35% Li2O from 99m 17.46
GRC0850 EXPL Grasscutter N 96 108 12.0 199.0 1.24 GRC0850: 12m at 1.24% Li2O from 96m 14.83
GRC0341 IND re-entry Anokyi 134 146 12 170.00 1.03 GRC0341: 12m at 1.03% Li2O from 134m 12.35
GRC0844 EXPL Grasscutter N 162 169 7.0 220.0 1.68 GRC0844: 7m at 1.69% Li2O from 162m 11.79
GRC0872 EXPL Kaampakrom 34 42 8.00 70.00 1.47 GRC0872: 8m at 1.48% Li2O from 34m 11.77
GRC0843 EXPL Grasscutter N 132 146 14.0 162.0 0.77 GRC0843: 14m at 0.77% Li2O from 132m 10.73
GRC0848 EXPL Grasscutter N 137 146 9.0 166.0 1.03 GRC0848: 9m at 1.03% Li2O from 137m 9.26
GRC0856 EXPL Assan 66 72 6.0 88.0 1.48 GRC0856: 6m at 1.49% Li2O from 66m 8.90
GRC0465 IND re-entry Anokyi 129 137 8.00 168.00 1.09 GRC0465: 8m at 1.1% Li2O from 129m 8.75
GRC0853 EXPL Assan 45 51 6.0 100.0 1.44 GRC0853: 6m at 1.44% Li2O from 45m 8.64
GRC0854 EXPL Assan 73 79 6.0 114.0 1.34 GRC0854: 6m at 1.34% Li2O from 73m 8.01
GDD0100 MET Ewoyaa 85.4 97.3 11.9 140.2 0.66 GDD0100: 11.9m at 0.66% Li2O from 85.4m 7.85
GRC0828 EXPL Grasscutter N 44 52 8.0 90.0 0.95 GRC0828: 8m at 0.95% Li2O from 44m 7.60
GRC0843 EXPL Grasscutter N 67 73 6.0 162.0 1.24 GRC0843: 6m at 1.24% Li2O from 67m 7.41
GRC0855 EXPL Assan 29 34 5.0 50.0 1.41 GRC0855: 5m at 1.42% Li2O from 29m 7.06
GRC0867 IND Ewoyaa 38 43 5.00 80.00 1.39 GRC0867: 5m at 1.39% Li2O from 38m weathered pegmatite 6.94
GRC0869 IND Ewoyaa 69 73 4.00 89.00 1.70 GRC0869: 4m at 1.7% Li2O from 69m 6.79
GRC0570 IND re-entry Anokyi 224 228 4.00 250.00 1.65 GRC0570: 4m at 1.65% Li2O from 224m 6.58
GDD0100 MET Ewoyaa 26.3 33 6.7 140.2 0.94 GDD0100: 6.7m at 0.94% Li2O from 26.3m 6.30
GRC0830 EXPL Grasscutter N 86 92 6.0 128.0 1.04 GRC0830: 6m at 1.04% Li2O from 86m 6.23
GRC0817 IND Kaampakrom 57 63 6.0 110.0 1.00 GRC0817: 6m at 1.01% Li2O from 57m 6.01
GRC0824 IND Kaampakrom 62 67 5.0 110.0 1.17 GRC0824: 5m at 1.17% Li2O from 62m 5.85
GRC0866 IND Ewoyaa 62 66 4.00 82.00 1.40 GRC0866: 4m at 1.4% Li2O from 62m 5.59
GRC0840 IND Ewoyaa 60 63 3.0 90.0 1.73 GRC0840: 3m at 1.73% Li2O from 60m 5.18
GDD0100 MET Ewoyaa 36.8 44 7.2 140.2 0.62 GDD0100: 7.2m at 0.62% Li2O from 36.8m 4.46
GRC0882 EXPL Kaampakrom 98 102 4.00 125.00 1.04 GRC0882: 4m at 1.04% Li2O from 98m 4.16
GRC0874 EXPL Kaampakrom 82 86 4.00 102.00 1.00 GRC0874: 4m at 1% Li2O from 82m 3.99
GRC0875 EXPL Kaampakrom 54 57 3.00 74.00 1.28 GRC0875: 3m at 1.29% Li2O from 54m 3.85
GRC0870 IND Ewoyaa 75 78 3.00 200.00 1.26 GRC0870: 3m at 1.26% Li2O from 75m 3.77
GRC0863 IND Ewoyaa 74 76 2.00 110.00 1.62 GRC0863: 2m at 1.62% Li2O from 74m 3.23
GRC0822 IND Kaampakrom 28 34 6.0 120.0 0.48 GRC0822: 6m at 0.48% Li2O from 28m 2.88
GRC0852 IND Ewoyaa 253 258 5.0 310.0 0.53 GRC0852: 5m at 0.54% Li2O from 253m 2.67
GRC0823 IND Kaampakrom 79 83 4.0 107.0 0.66 GRC0823: 4m at 0.67% Li2O from 79m 2.65
GRC0862 IND Ewoyaa 40 42 2.00 80.00 0.89 GRC0862: 2m at 0.89% Li2O from 40m weathered pegmatite 1.77
GRC0852 IND Ewoyaa 282 284 2.0 310.0 0.78 GRC0852: 2m at 0.78% Li2O from 282m 1.55
GDD0103 MET Ewoyaa 74.2 75.5 1.3 120.4 1.02 GDD0103: 1.3m at 1.03% Li2O from 74.2m 1.33
GRC0850 IND Ewoyaa 192 194 2.0 199.0 0.63 GRC0850: 2m at 0.63% Li2O from 192m 1.26
GRC0880 EXPL Kaampakrom 69 71 2.00 100.00 0.54 GRC0880: 2m at 0.54% Li2O from 69m 1.08
GRC0882 EXPL Kaampakrom 104 106 2.00 125.00 0.51 GRC0882: 2m at 0.51% Li2O from 104m 1.02
GRC0852 IND Ewoyaa 272 273 1.0 310.0 0.95 GRC0852: 1m at 0.95% Li2O from 272m 0.95
GRC0843 EXPL Grasscutter N 113 114 1.0 162.0 0.61 GRC0843: 1m at 0.61% Li2O from 113m 0.61
GRC0848 EXPL Grasscutter N 45 46 1.0 166.0 0.59 GRC0848: 1m at 0.59% Li2O from 45m 0.59
GDD0103 MET Ewoyaa 96.4 97.7 1.3 120.4 0.43 GDD0103: 1.3m at 0.44% Li2O from 96.4m 0.56
GRC0838 Piezo Ewoyaa 73 74 1.0 140.0 0.55 GRC0839: 1m at 0.55% Li2O from 73m 0.55
GRC0882 EXPL Kaampakrom 108 109 1.00 125.00 0.55 GRC0882: 1m at 0.55% Li2O from 108m 0.55
GDD0099 GeoTech Ewoyaa 74 75 1.0 160.1 0.41 GDD0099: 1m at 0.41% Li2O from 74m 0.41
GDD0100 MET Ewoyaa 72.6 73 0.4 140.2 1.20 GDD0100: 0.41m at 1.2% Li2O from 72.6m
GDD0101 GeoTech Ewoyaa 0 160 160.0 160.1 no significant intersections
GRC0811 Piezo Kaampakrom 0 100 100.0 100.0 no significant intersections
GRC0812 Piezo Kaampakrom 0 100 100.0 100.0 no significant intersections
GRC0813 Piezo Kaampakrom 0 100 100.0 100.0 no significant intersections
GRC0814A Piezo Anfeo 0 100 100.0 100.0 no significant intersections
GRC0815 Piezo Anfeo 0 100 100.0 110.0 no significant intersections
GRC0816 IND Kaampakrom 27 35 8.0 80.0 no significant intersections weathered pegmatite
GRC0818 Piezo Kaampakrom 0 100 100.0 100.0 no significant intersections
GRC0819 IND Kaampakrom 0 80.00 80.0 80.0 no significant intersections
GRC0820 Piezo Kaampakrom 0 100.00 100.0 100.0 no significant intersections
GRC0821 IND Kaampakrom 0 90.00 90.0 90.0 no significant intersections
GRC0826 IND Kaampakrom 0 120 120.0 120.0 no significant intersections
GRC0827 IND Kaampakrom 12 14 2.0 86.0 no significant intersections weathered pegmatite
GRC0827 IND Kaampakrom 18 21 3.0 86.0 no significant intersections weathered pegmatite
GRC0827 IND Kaampakrom 39 40 1.0 86.0 no significant intersections weathered pegmatite
GRC0827 IND Kaampakrom 58 60 2.0 86.0 no significant intersections
GRC0827 IND Kaampakrom 69 70 1.0 86.0 no significant intersections
GRC0829 IND Kaampakrom 30 32 2.0 140.0 no significant intersections
GRC0829 IND Kaampakrom 95 96 1.0 140.0 no significant intersections
GRC0831 IND Kaampakrom 0 100 100.0 100.0 no significant intersections
GRC0832 EXPL Grasscutter N 12 16 4.0 90.0 no significant intersections weathered pegmatite
GRC0833 EXPL Grasscutter N 50 53 3.0 170.0 no significant intersections
GRC0833 EXPL Grasscutter N 55 58 3.0 170.0 no significant intersections
GRC0833 EXPL Grasscutter N 115 119 4.0 170.0 no significant intersections
GRC0833 EXPL Grasscutter N 146 150 4.0 170.0 no significant intersections
GRC0834 IND Kaampakrom 0 100.00 100.0 100.0 no significant intersections
GRC0835 EXPL Kaampakrom 0 63.00 63.0 63.0 no significant intersections
GRC0836 EXPL Kaampakrom 0 60.00 60.0 60.0 no significant intersections
GRC0838 Piezo Ewoyaa 0 4 4.0 114.0 no significant intersections weathered pegmatite
GRC0838 Piezo Ewoyaa 8 10 2.0 114.0 no significant intersections weathered pegmatite
GRC0838 Piezo Ewoyaa 20 21 1.0 114.0 no significant intersections weathered pegmatite
GRC0838 Piezo Ewoyaa 30 58 28.0 114.0 no significant intersections
GRC0838 Piezo Ewoyaa 82 84 2.0 114.0 no significant intersections
GRC0841 Piezo Abonko 0 100 100.0 100.0 no significant intersections
GRC0845 EXPL Krofu 0 110 110.0 110.0 no significant intersections
GRC0846 EXPL Grasscutter N 0 100 100.0 100.0 no significant intersections
GRC0847 EXPL Krofu 0 250 250.0 250.0 no significant intersections
GRC0849 EXPL Grasscutter N 0 130 130.0 130.0 no significant intersections
GRC0851 EXPL Krofu 0 180 180.0 180.0 no significant intersections
GRC0857 IND Ewoyaa 69 71 2.00 104.00 no significant intersections
GRC0857 IND Ewoyaa 74 75 1.00 104.00 no significant intersections
GRC0857 IND Ewoyaa 77 79 2.00 104.00 no significant intersections
GRC0857 IND Ewoyaa 87 88 1.00 104.00 no significant intersections
GRC0858 EXPL Kaampakrom 15 16 1.00 140.00 no significant intersections weathered pegmatite
GRC0858 EXPL Kaampakrom 30 33 3.00 140.00 no significant intersections weathered pegmatite
GRC0859 IND Ewoyaa 0 110 110.00 110.00 no significant intersections No pegmatite intersected
GRC0860 IND Ewoyaa 53 54 1.00 80.00 no significant intersections weathered pegmatite
GRC0860 IND Ewoyaa 71 72 1.00 80.00 no significant intersections
GRC0861 EXPL Krofu 28 31 3.00 200.00 no significant intersections weathered pegmatite
GRC0864 IND Ewoyaa 29 34 5.00 80.00 no significant intersections weathered pegmatite
GRC0865 EXPL Krofu 0 100 100.00 100.00 no significant intersections No pegmatite intersected
GRC0868 IND Ewoyaa 169 174 5.00 189.00 no significant intersections
GRC0871 IND Ewoyaa 0 120 120.00 120.00 no significant intersections No pegmatite intersected
GRC0873 IND Ewoyaa 0 110 110.00 110.00 no significant intersections No pegmatite intersected
GRC0876 EXPL Kaampakrom 34 42 8.00 62.00 no significant intersections weathered pegmatite
GRC0877 EXPL Kaampakrom 72 75 3.00 90.00 no significant intersections
GRC0878 EXPL Kaampakrom 105 106 1.00 140.00 no significant intersections
GRC0879 EXPL Kaampakrom 29 33 4.00 90.00 no significant intersections
GRC0879 EXPL Kaampakrom 40 42 2.00 90.00 no significant intersections
GRC0881 EXPL Kaampakrom 46 49 3.00 70.00 no significant intersections
GRC0881 EXPL Kaampakrom 51 54 3.00 70.00 no significant intersections
GRC0883 EXPL Kaampakrom 2 3 1.00 74.00 no significant intersections weathered pegmatite
GRC0883 EXPL Kaampakrom 6 9 3.00 74.00 no significant intersections weathered pegmatite
GRC0883 EXPL Kaampakrom 17 19 2.00 74.00 no significant intersections weathered pegmatite
GRC0883 EXPL Kaampakrom 38 39 1.00 74.00 no significant intersections weathered pegmatite
GRC0883 EXPL Kaampakrom 41 44 3.00 74.00 no significant intersections weathered pegmatite
GRC0884 EXPL Kaampakrom 77 80 3.00 95.00 no significant intersections
GRC0885 EXPL Kaampakrom 0 3 3.00 90.00 no significant intersections weathered pegmatite
GRC0886A EXPL Kaampakrom 56 57 1.00 80.00 no significant intersections weathered pegmatite
GRC0886A EXPL Kaampakrom 60 63 3.00 80.00 no significant intersections weathered pegmatite
GRC0887 EXPL Kaampakrom 83 87 4.00 102.00 no significant intersections
GRC0888 EXPL Kaampakrom 0 80 80.00 80.00 no significant intersections No pegmatite intersected
Appendix 2 - Newly reported drill collar locations (MET = Metallurgy, IND =
Indicated, EXPL = Exploration, Piezo = Piezometer)
Hole_ID Target Deposit Hole Depth m Eastings Northings Elevation m Dip Azimuth
GDD0099 Geotech Ewoyaa 160.1 715441 579109 24 -50 305
GDD0100 MET Ewoyaa 141.01 715578 580221 31 -50 270
GDD0101 Geotech Ewoyaa 161.01 715711 579049 29 -50 305
GDD0102A MET Kaampakrom W 151.01 715094 581188 64 -50 150
GDD0103 MET Ewoyaa 121.01 715993 580099 38 -51 210
GRC0341 IND re-entry Anokyi 170 716480 578713 53 -50 180
GRC0465 IND re-entry Anokyi 168 716400 578717 31 -51 181.79
GRC0470 IND re-entry Anokyi 150 716320 578787 24 -51 179.97
GRC0811 Piezo Kaampakrom 100 716542 581717 12 -89 0
GRC0812 Piezo Kaampakrom 100 716190 580380 21 -87 0
GRC0813 Piezo Kaampakrom 100 714969 579649 21 -89 0
GRC0814A Piezo Anfeo 100 714053 577694 20 -89 0
GRC0815 Piezo Anfeo 110 713748 578257 27 -90 0
GRC0816 EXPL Kaampakrom 80 715447 581460 28 -51 330
GRC0817 EXPL Kaampakrom 110 715467 581430 29 -52 330
GRC0818 Piezo Kaampakrom 100 715873 581021 18 -87 0
GRC0819 EXPL Kaampakrom 80 715316 581442 48 -52 330
GRC0820 Piezo Kaampakrom 100 717958 581308 7 -88 0
GRC0821 EXPL Kaampakrom 90 715754 581635 42 -51 90
GRC0822 EXPL Kaampakrom 120 715629 581541 31 -51 330
GRC0823 EXPL Kaampakrom 107 715750 581593 51 -50 90
GRC0824 EXPL Kaampakrom 110 715648 581507 37 -51 330
GRC0825 EXPL Kaampakrom 120 715713 581593 52 -51 90
GRC0826 EXPL Kaampakrom 120 715596 581684 23 -51 330
GRC0827 EXPL Kaampakrom 86 715852 581557 33 -51 90
GRC0828 IND Grasscutter N 90 716336 580453 29 -48 210
GRC0829 EXPL Kaampakrom 140 715814 581552 30 -50 90
GRC0830 IND Grasscutter N 128 716354 580485 26 -52 210
GRC0831 EXPL Kaampakrom 100 715738 581515 50 -51 90
GRC0832 IND Grasscutter N 90 716303 580482 21 -51 210
GRC0833 IND Grasscutter N 170 716326 580514 21 -50 210
GRC0834 EXPL Kaampakrom 100 715838 581473 58 -51 90
GRC0835 EXPL Kaampakrom 63 715831 581838 20 -51 180
GRC0836 EXPL Kaampakrom 60 715911 581820 30 -51 180
GRC0837 IND Grasscutter N 90 716370 580430 37 -51 210
GRC0838 Piezo Ewoyaa 114 713688 579469 39 -90 0
GRC0839 IND Grasscutter N 140 716387 580465 34 -51 210
GRC0840 IND Ewoyaa 90 716400 580412 34 -51 210
GRC0841 Piezo Abonko 100 717866 579565 8 -89 0
GRC0842 IND Grasscutter N 125 716419 580446 34 -51 210
GRC0843 IND Grasscutter N 162 716440 580480 26 -52 210
GRC0844 IND Grasscutter N 220 716459 580517 22 -52 210
GRC0845 EXPL Krofu 110 713860 581554 52 -51 330
GRC0846 IND Grasscutter N 100 716436 580391 29 -51 210
GRC0847 EXPL Krofu 250 713929 581835 46 -52 330
GRC0848 IND Grasscutter N 166 716475 580458 25 -50 210
GRC0849 IND Grasscutter N 130 716457 580429 27 -51 210
GRC0850 IND Grasscutter N 199 716492 580494 27 -52 210
GRC0851 EXPL Krofu 180 713878 581520 45 -50 330
GRC0852 IND Ewoyaa 310 715801 579075 47 -52 305
GRC0853 EXPL Assan 100 717357 583158 14 -51 340
GRC0854 EXPL Assan 114 717370 583127 34 -50 340
GRC0855 EXPL Assan 50 717428 583191 12 -51 340
GRC0856 EXPL Assan 88 717441 583154 33 -51 340
GRC0857 IND Ewoyaa 104 717083 580225 35 -51 180
GRC0858 EXPL Krampakrom 140 715672 581594 44 -51 90
GRC0859 IND Ewoyaa 110 717081 580264 40 -51 180
GRC0860 IND Ewoyaa 80 717001 580212 48 -51 180
GRC0861 EXPL Krofu 200 713811 581640 56 -50 150
GRC0862 IND Ewoyaa 80 717057 580469 33 -51 230
GRC0863 IND Ewoyaa 110 717088 580500 40 -51 230
GRC0864 IND Ewoyaa 80 717098 580401 20 -52 230
GRC0865 EXPL Krofu 100 713791 581674 49 -50 150
GRC0866 IND Ewoyaa 82 717127 580430 20 -51 230
GRC0867 IND Ewoyaa 80 717079 580439 25 -50 230
GRC0868 IND Ewoyaa 189 716514 580457 30 -51 210
GRC0869 IND Ewoyaa 89 717109 580465 30 -50 230
GRC0870 IND Ewoyaa 200 716536 580491 35 -51 210
GRC0871 IND Ewoyaa 120 716694 580237 58 -51 140
GRC0872 EXPL Krampakrom 70 715520 581496 28 -49 330
GRC0873 IND Ewoyaa 110 716493 580419 29 -51 210
GRC0874 EXPL Krampakrom 102 715541 581462 37 -51 330
GRC0875 EXPL Krampakrom 74 715417 581430 30 -51 330
GRC0876 EXPL Krampakrom 62 715496 581301 48 -51 330
GRC0877 EXPL Krampakrom 90 715513 581266 55 -52 330
GRC0878 EXPL Krampakrom 140 715439 581395 30 -51 330
GRC0879 EXPL Krampakrom 90 715559 581505 34 -51 330
GRC0880 EXPL Krampakrom 100 715578 581475 42 -50 330
GRC0881 EXPL Krampakrom 70 715587 581779 31 -51 150
GRC0882 EXPL Krampakrom 125 715567 581817 36 -51 150
GRC0883 EXPL Krampakrom 74 715551 581763 31 -50 150
GRC0884 EXPL Krampakrom 95 715529 581793 38 -50 150
GRC0885 EXPL Krampakrom 90 715757 581712 25 -51 90
GRC0886A EXPL Krampakrom 80 715429 581245 54 -51 330
GRC0887 EXPL Krampakrom 102 715450 581212 44 -51 330
GRC0888 EXPL Krampakrom 80 715403 581133 33 -51 330
'JORC Code 2012 Table 1' Section 1 Sampling Techniques and Data
The following extract from the JORC Code 2012 Table 1 is provided for
compliance with the Code requirements for the reporting of Exploration
Results.
Criteria JORC Code explanation Commentary
Sampling techniques · Nature and quality of sampling (eg cut channels, random chips, or · RC drill holes were routinely sampled at 1m intervals with a
specific specialised industry standard measurement tools appropriate to the nominal 3-6kg sub-sample split off for assay using a rig-mounted cone splitter
minerals under investigation, such as down hole gamma sondes, or handheld XRF at 1m intervals.
instruments, etc). These examples should not be taken as limiting the broad
meaning of sampling. · DD holes were quarter core sampled at 1m intervals or to
geological contacts for geochemical analysis.
· Include reference to measures taken to ensure sample representivity
and the appropriate calibration of any measurement tools or systems used. · For assaying, splits from all prospective ore zones (i.e., logged
pegmatites +/- interburden) were sent for assay. Outside of these zones, the
· Aspects of the determination of mineralisation that are Material to splits were composited to 4m using a portable riffle splitter.
the Public Report. In cases where 'industry standard' work has been done this
would be relatively simple (eg 'reverse circulation drilling was used to · Holes without pegmatite were not assayed.
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 · Approximately 5% of all samples submitted were standards and
there is coarse gold that has inherent sampling problems. Unusual commodities coarse blanks. Blanks were typically inserted with the interpreted ore zones
or mineralisation types (eg submarine nodules) may warrant disclosure of after the drilling was completed.
detailed information.
· Approximately 2.5% of samples submitted were duplicate samples
collected after logging using a riffle splitter and sent to an umpire
laboratory. This ensured zones of interest were duplicated and not missed
during alternative routine splitting of the primary sample.
· Prior to the December 2018 - SGS Tarkwa was used for sample
preparation (PRP100) and subsequently forwarded to SGS Johannesburg for
analysis; and later SGS Vancouver for analysis (ICP90A).
· Post December 2018 to present - Intertek Tarkwa was used for
sample preparation (SP02/SP12) and subsequently forwarded to Intertek Perth
for analysis (FP6/MS/OES - 21 element combination Na(2)O(2) fusion with
combination OES/MS).
· ALS Laboratory in Brisbane was used for the Company's initial due
diligence work programmes and was selected as the umpire laboratory since
Phase 1. ALS conducts ME-ICP89, with a Sodium Peroxide Fusion. Detection
limits for lithium are 0.01-10%. Sodium Peroxide fusion is considered a
"total" assay technique for lithium. In addition, 22 additional elements
assayed with Na(2)O(2) fusion, and combination MS/ICP analysis.
Drilling techniques · Drill type (eg core, reverse circulation, open-hole hammer, rotary · Five phases of drilling were undertaken at the Project using RC
air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or and DD techniques. All the RC drilling used face sampling hammers.
standard tube, depth of diamond tails, face-sampling bit or other type,
whether core is oriented and if so, by what method, etc). · Phase 1 and 2 programmes used a 5.25-inch hammers while Phase 3
and 5 used a 5.75-inch hammer.
· All DD holes were completed using PQ and HQ core from surface
(85mm and 63.5mm).
· All DD holes were drilled in conjunction with a Reflex ACT II
tool; to provide an accurate determination of the bottom-of-hole orientation.
· All fresh core was orientated to allow for geological, structural
and geotechnical logging by a Company geologist.
Drill sample recovery · Method of recording and assessing core and chip sample recoveries · A semi-quantitative estimate of sample recovery was completed for
and results assessed. the vast majority of drilling. This involved weighing both the bulk samples
and splits and calculating theoretical recoveries using assumed densities.
· Measures taken to maximise sample recovery and ensure Where samples were not weighed, qualitative descriptions of the sample size
representative nature of the samples. were recorded. Some sample loss was recorded in the collaring of the RC
drill holes.
· Whether a relationship exists between sample recovery and grade and
whether sample bias may have occurred due to preferential loss/gain of · DD recoveries were measured and recorded. Recoveries in excess
fine/coarse material. of 95.8% have been achieved for the DD drilling programme. Drill sample
recovery and quality is adequate for the drilling technique employed.
· The DD twin programme has identified a positive grade bias for
iron in the RC compared to the DD results.
Logging · Whether core and chip samples have been geologically and · All drill sample intervals were geologically logged by Company
geotechnically logged to a level of detail to support appropriate Mineral geologists.
Resource estimation, mining studies and metallurgical studies.
· Where appropriate, geological logging recorded the abundance of
· Whether logging is qualitative or quantitative in nature. Core (or specific minerals, rock types and weathering using a standardised logging
costean, channel, etc) photography. system that captured preliminary metallurgical domains.
· The total length and percentage of the relevant intersections · All logging is qualitative, except for the systematic collection
logged. of magnetic susceptibility data which could be considered semi quantitative.
· Strip logs have been generated for each drill hole to cross-check
geochemical data with geological logging.
· A small sample of washed RC drill material was retained in chip
trays for future reference and validation of geological logging, and sample
reject materials from the laboratory are stored at the Company's field office.
· All drill holes have been logged and reviewed by Company
technical staff.
· The logging is of sufficient detail to support the current
reporting of a Mineral Resource.
Sub-sampling techniques and sample preparation · If core, whether cut or sawn and whether quarter, half or all core · RC samples were cone split at the drill rig. For interpreted
taken. waste zones the 1 or 2m rig splits were later composited using a riffle
splitter into 4m composite samples.
· DD core was cut with a core saw and selected half core samples
· If non-core, whether riffled, tube sampled, rotary split, etc and dispatched to Nagrom Laboratory in Perth for preliminary metallurgical test
whether sampled wet or dry. work.
· For all sample types, the nature, quality and appropriateness of · The other half of the core, including the bottom-of-hole
the sample preparation technique. orientation line, was retained for geological reference.
· Quality control procedures adopted for all sub-sampling stages to · The remaining DD core was quarter cored for geochemical analysis.
maximise representivity of samples.
· Since December 2018, samples were submitted to Intertek Tarkwa
· Measures taken to ensure that the sampling is representative of the (SP02/SP12) for sample preparation. Samples were weighed, dried and crushed to
in-situ material collected, including for instance results for field -2mm in a Boyd crusher with an 800-1,200g rotary split, producing a nominal
duplicate/second-half sampling. 1,500g split crushed sample, which was subsequently pulverised in a LM2 ring
mill. Samples were pulverised to a nominal 85% passing 75µm. All the
· Whether sample sizes are appropriate to the grain size of the preparation equipment was flushed with barren material prior to the
material being sampled. commencement of the job. Coarse reject material was kept in the original
bag. Lab sizing analysis was undertaken on a nominal 1:25 basis. Final
pulverised samples (20g) were airfreighted to Intertek in Perth for assaying.
•
· The pulps were submitted for analysis by Sodium peroxide fusion
(Nickel crucibles) and Hydrochloric acid to dissolve the melt. Analysed by
Inductively Coupled Plasma Mass Spectrometry (FP6MS) / Inductively Coupled
Plasma Optical (Atomic) Emission Spectrometry (FP6/OE). The analytical suite
consisted of Al, B, Ba, Be, Ca, Cs, Fe, K, Li, Mg, Mn, Nb, P, Rb, S, Si, Sn,
Sr, Ta and Ti.
· The vast majority of samples were drilled dry. Moisture content
was logged qualitatively. All intersections of the water table were recorded
in the database.
· Field sample duplicates were taken to evaluate whether samples
were representative and understand repeatability, with good repeatability.
· Sample sizes and laboratory preparation techniques were
appropriate and industry standard.
Quality of assay data and laboratory tests · The nature, quality and appropriateness of the assaying and · Analysis for lithium and a suite of other elements for Phase 1
laboratory procedures used and whether the technique is considered partial or drilling was undertaken at SGS Johannesburg / Vancouver by ICP-OES after
total. Sodium Peroxide Fusion. Detection limits for lithium (10ppm - 100,000ppm).
Sodium Peroxide fusion is considered a "total" assay technique for lithium.
· For geophysical tools, spectrometers, handheld XRF instruments,
etc, the parameters used in determining the analysis including instrument make · Review of standards and blanks from the initial submission to
and model, reading times, calibrations factors applied and their derivation, Johannesburg identified failures (multiple standards reporting outside control
etc. limits). A decision was made to resubmit this batch and all subsequent batches
to SGS Vancouver - a laboratory considered to have more experience with this
· Nature of quality control procedures adopted (eg standards, blanks, method of analysis and sample type.
duplicates, external laboratory checks) and whether acceptable levels of
accuracy (ie lack of bias) and precision have been established. · Results of analyses for field sample duplicates are consistent
with the style of mineralisation and considered to be representative. Internal
laboratory QAQC checks are reported by the laboratory, including sizing
analysis to monitor preparation and internal laboratory QA/QC. These were
reviewed and retained in the company drill hole database.
· 155 samples were sent to an umpire laboratory (ALS) and/assayed
using equivalent techniques, with results demonstrating good repeatability.
· ALL's review of QAQC suggests the SGS Vancouver and Intertek
Perth laboratories performed within acceptable limits.
· No geophysical methods or hand-held XRF units have been used for
determination of grades in the Mineral Resource.
Verification of sampling and assaying · The verification of significant intersections by either independent · Significant intersections were visually field verified by company
or alternative company personnel. geologists and Shaun Searle of Ashmore during the 2019 site visit.
· The use of twinned holes. · Drill hole data was compiled and digitally captured by Company
geologists in the field. Where hand-written information was recorded, all
· Documentation of primary data, data entry procedures, data hardcopy records were kept and archived after digitising.
verification, data storage (physical and electronic) protocols.
· Phase 1 and 2 drilling programmes were captured on paper or
· Discuss any adjustment to assay data. locked excel templates and migrated to an MS Access database and then into
Datashed (industry standard drill hole database management software). The
Phase 3 to 5 programmes were captured using LogChief which has inbuilt data
validation protocols. All analytical results were transferred digitally and
loaded into the database by a Datashed consultant.
· The data was audited, and any discrepancies checked by the
Company personnel before being updated in the database.
· Twin DD holes were drilled to verify results of the RC drilling
programmes. Results indicate that there is iron contamination in the RC
drilling process.
· Reported drill hole intercepts were compiled by the Chief
Geologist.
· Adjustments to the original assay data included converting Li ppm
to Li(2)O%.
Location of data points · Accuracy and quality of surveys used to locate drill holes (collar · The collar locations were surveyed in WGS84 Zone 30 North using
and down-hole surveys), trenches, mine workings and other locations used in DGPS survey equipment, which is accurate to 0.11mm in both horizontal and
Mineral Resource estimation. vertical directions. All holes were surveyed by qualified surveyors. Once
validated, the survey data was uploaded into Datashed.
· Specification of the grid system used.
· RC drill holes were routinely down hole surveyed every 6m using a
· Quality and adequacy of topographic control. combination of EZ TRAC 1.5 (single shot) and Reflex Gyroscopic tools.
· After the tenth drill hole, the survey method was changed to
Reflex Gyro survey with 6m down hole data points measured during an
end-of-hole survey.
· All Phase 2 and 3 drill holes were surveyed initially using the
Reflex Gyro tool, but later using the more efficient Reflex SPRINT tool. Phase
4 and 5 drill holes were surveyed using a Reflex SPRINT tool.
· LiDAR survey Southern Mapping to produce rectified colour images
and a digital terrain model (DTM) 32km2, Aircraft C206 aircraft-mounted LiDAR
Riegl Q780 Camera Hasselblad H5Dc with 50mm Fixfocus lens.
· Coordinate system: WGS84 UTM30N with accuracy to ±0.04.
· The topographic survey and photo mosaic output from the survey is
accurate to 20mm.
· Locational accuracy at collar and down the drill hole is
considered appropriate for resource estimation purposes.
Data spacing and distribution · Data spacing for reporting of Exploration Results. · The RC holes were initially drilled on 100m spaced sections and
50m hole spacings orientated at 300° or 330° with dips ranging from -50° to
· Whether the data spacing and distribution is sufficient to -60°. Planned hole orientations/dips were occasionally adjusted due to pad
establish the degree of geological and grade continuity appropriate for the and/or access constraints.
Mineral Resource and Ore Reserve estimation procedure(s) and classifications
applied. · Hole spacing was reduced to predominantly 40m spaced sections and
40m hole spacings. Holes are generally angled perpendicular to interpreted
· Whether sample compositing has been applied. mineralisation orientations at the Project.
· Samples were composited to 1m intervals prior to estimation.
Orientation of data in relation to geological structure · Whether the orientation of sampling achieves unbiased sampling of · The drill line and drill hole orientation are oriented as close
possible structures and the extent to which this is known, considering the as practicable to perpendicular to the orientation of the general mineralised
deposit type. orientation.
· If the relationship between the drilling orientation and the · Most of the drilling intersects the mineralisation at close to 90
orientation of key mineralised structures is considered to have introduced a degrees ensuring intersections are representative of true widths. It is
sampling bias, this should be assessed and reported if material. possible that new geological interpretations and/or infill drilling
requirements may result in changes to drill orientations on future programmes.
· No orientation based sampling bias has been identified in the
data.
Sample security · The measures taken to ensure sample security. · Samples were stored on site prior to road transportation by
Company personnel to the SGS preparation laboratory.
· With the change of laboratory to Intertek, samples were picked up
by the contractor and transported to the sample preparation facility in
Tarkwa.
Audits or reviews · The results of any audits or reviews of sampling techniques and · Prior to the drilling programme, a third-party Project review was
data. completed by an independent consultant experienced with the style of
mineralisation.
· In addition, Shaun Searle of Ashmore reviewed drilling and
sampling procedures during the 2019 site visit and found that all procedures
and practices conform to industry standards.
Appendix - JORC Table 1, Section 2, Reporting of Exploration Results
Criteria JORC Code explanation Commentary
Mineral tenement and land tenure status · Type, reference name/number, location and ownership including · Part of the Project is a joint-venture, with the license in the
agreements or material issues with third parties such as joint ventures, name of the joint-venture party (Barari DV Ghana).
partnerships, overriding royalties, native title interests, historical sites,
wilderness or national park and environmental settings. · The southern portion of the deposit occurs within a wholly owned
local subsidiary Green Metals Resources Ltd.
· The security of the tenure held at the time of reporting along with
any known impediments to obtaining a license to operate in the area. · The deposits are located on two licences Mankessim RL3/55 and
Mankessim South PL109
· Mankessim South - (Green Metals Resources Ltd - 100% ALL) licence
was renewed for three years and expires on 18(th) February 2023.
· Mankessim - (Barari DV Ghana Ltd - 90% ALL) was renewed for three
years and expires on the 22(nd) of March 2024
· The licenses are in good standing with no known impediments.
Exploration done by other parties · Acknowledgment and appraisal of exploration by other parties. · Historical trenching and mapping were completed by the Ghana
Geological survey during the 1960's. But for some poorly referenced
historical maps, none of the technical data from this work was located. Many
of the historical trenches were located, cleaned and re-logged. No historical
drilling was completed.
Geology · Deposit type, geological setting and style of mineralisation. · Pegmatite-hosted lithium deposits are the target for exploration.
This style of mineralisation typically forms as dykes and sills intruding or
in proximity to granite source rocks.
· Surface geology within the Project area typically consists of
sequences of staurolite and garnet-bearing pelitic schist and granite with
lesser pegmatite and mafic intrusives. Outcrops are typically sparse and
confined to ridge tops with colluvium and mottled laterite blanketing much of
the undulating terrain making geological mapping challenging. The hills are
often separated by broad, sandy drainages.
Drill hole information · A summary of all information material to the under-standing of the
exploration results including a tabulation of the following information for
all Material drill holes: · All information has been included in the appendices. No drill
hole information has been excluded.
· easting and northing of the drill hole collar
· elevation or RL (Reduced Level - elevation above sea level in metres)
of the drill hole collar
· dip and azimuth of the hole
· down hole length and interception depth
· hole length
· If the exclusion of this information is 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, · All intersections are reported at a 0.4% Li20 cut-off with maximum
maximum and/or minimum grade truncations (e.g. cutting of high grades) and 4m of internal pegmatite dilution and no internal waste lithologies whether
cut-off grades are usually Material and should be stated. schist or granite.
· Where aggregate intercepts incorporate short lengths of high-grade · No top-cut is applied as lithium pegmatites are a bulk industrial
results and longer lengths of low grade results, the procedure used for such mineral.
aggregation should be stated and some typical examples of such aggregations
should be shown in detail. · No metal equivalent values are being reported.
· 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 · The drill line and drill hole orientation are oriented as close
Exploration Results. to 90 degrees to the orientation of the anticipated mineralised orientation as
practicable.
· If the geometry of the mineralisation with respect to the drill hole
angle is known, its nature should be reported. · The majority of the drilling intersects the mineralisation
between 60 and 80 degrees.
· If it is not known and only the down hole lengths are reported, there
should be a clear statement to this effect (e.g. 'down hole length, true width · Where drilling has drilled down-dip of a known pegmatite, it is
not known'). reported as such.
Diagrams · Appropriate maps and sections (with scales) and tabulations of · Relevant plans and selected cross-sections have been included
intercepts should be included for any significant discovery being reported. within the release.
These should include, but not be limited to a plan view of drill hole collar
locations and appropriate sectional views.
Balanced Reporting · Accuracy and quality of surveys used to locate drill holes (collar · All hole collars were surveyed WGS84 Zone 30 North grid using a
and down-hole surveys), trenches, mine workings and other locations used in differential GPS. All RC and DD holes were down-hole surveyed with a
Mineral Resource estimation. north-seeking gyroscopic tool.
· Where comprehensive reporting of all Exploration Results is not · All exploration results are being reported.
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 reported · Drill hole intersections were calculated from drill hole assay
including (but not limited to): geological observations; geophysical survey data, with geological logging used to aid interpretation of mineralised
results; geochemical survey results; bulk samples - size and method of contact positions.
treatment; metallurgical test results; bulk density, groundwater, geotechnical
and rock characteristics; potential deleterious or contaminating substances. · No other exploration data are being reported.
Further work · The nature and scale of planned further work (e.g. tests for · Drilling results for a planned infill and extensional drilling
lateral extensions or depth extensions or large- scale step-out drilling). programme are being reported.
· Diagrams clearly highlighting the areas of possible extensions, · Follow up RC and DD drilling may be undertaken once all results
including the main geological interpretations and future drilling areas, from the drilling programme are reviewed; either along strike or down-dip of
provided this information is not commercially sensitive. the known pegmatites.
· Drill spacing is currently considered adequate for the current
level of interrogation of the Project.
~end~
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