REG - Cora Gold Limited - Updated Mineral Resource Estimate at Sanankoro
16/11/2021 07:05
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RNS Number : 4561S Cora Gold Limited 16 November 2021
Cora Gold Limited / EPIC: CORA.L / Market: AIM / Sector: Mining
16 November 2021
Cora Gold Limited ('Cora' or 'the Company')
Updated Mineral Resource Estimate at Sanankoro Gold Project
Cora Gold Limited, the West African focused gold company, is pleased to
announce an updated Mineral Resource Estimate ('MRE') prepared by CSA Global
(UK) Ltd in accordance with The JORC Code (2012 Edition) for the Sanankoro
Gold Project ('Sanankoro' or 'the Project') in Southern Mali. The updated
MRE follows the recently completed ~43,000m drilling campaign at Sanankoro
which focussed on Mineral Resource growth and upgrading existing Mineral
Resources to higher confidence categories.
HIGHLIGHTS
● +200% increase in total ounces from maiden MRE in December 2019
and significant upgrade to Indicated category using a 0.4g/t cut off and a
US$1,800/oz optimised pit shell
● Pit constrained Mineral Resource Estimate of 21.9 million tonnes
('t') at 1.15 grams per tonne ('g/t') gold ('Au') for a total of 809.3
thousand ounces (koz) of Au, including:
o 540.6 koz @ 1.33 g/t Au in the Indicated category
o 268.7 koz @ 0.90 g/t Au in the Inferred category
o All deposits remain open in all directions
o Maiden Mineral Resource at Zone C
● The Company's strategy was to deliver open pit-able, free-digging
oxide-focussed ounces for the on-going Definitive Feasibility Study ('DFS') -
this MRE supports that potential with:
o 67% of total ounces in the Indicated category
o 77% of the gold is in the oxide zone with a further 22% in the
transitional zone
o Previous metallurgical testwork shows +94% recoveries (RNS dated 29
September 2020)
o Base of oxidation ranges from 60m to 207m deep
● MRE based on around 7.5km surface expression of the total 33
linear km strike length of the potential mineralised zones identified in the
2018 Exploration Target of up to 2 Moz potential within 100 m of surface at
Sanankoro (SRK, 2018)
● There are multiple higher grade ore shoots within the deposits
which offer the potential for higher grade production in early years of mining
● Work on the DFS is gaining momentum following appointment of
consultants and completion is expected in H1 2022
Bert Monro, CEO of Cora, commented, "I am delighted with the updated Mineral
Resource Estimate at Sanankoro which has exceeded our expectations from the
start of the drill programme and is a major step in our development plan,
which is focussed on delivering a DFS during H1 2022. Not only has the total
Mineral Resource been expanded by over 200% from our maiden Mineral Resource
but there has also been an excellent conversion from Inferred to Indicated
Mineral Resources. Furthermore, nearly all of the MRE mineralisation is in
the oxide and transitional zones and is in line with the Company's strategy of
delivering an open pit, free digging, high-recovery gold mine at Sanankoro.
"In September 2021 the Company signed a revised term sheet with Lionhead for
US$25m Project Finance to support the development of the Sanankoro Gold
Project on completion of the DFS in 2022. This Mineral Resource update is
the first step towards delivering that strategy and the Company is extremely
pleased to be moving towards a construction decision."
To view the RNS with illustrative diagrams and maps, please use the following
link: http://www.rns-pdf.londonstockexchange.com/rns/4561S_1-2021-11-15.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/4561S_1-2021-11-15.pdf)
DETAILS
The Company continues to focus on developing Sanankoro towards the
construction of an open pit, oxide focussed, gold mine anticipated H2 2022.
The Company drilled ~43,000 m during 2021 to enable this updated MRE to build
on the maiden MRE of December 2019. Having received the final assay results in
October (see RNS dated 22 October 2021) an updated JORC-compliant MRE delivers
a pit constrained Mineral Resource of 809.3 koz at 1.15 g/t Au, comprising
540.6 koz @ 1.33 g/t Au Indicated plus 268.7 koz @ 0.90 g/t Au Inferred (Table
1).
Mineral Resource Classification Ore Type Tonnes Grade Gold
(thousands) (g/t Au) (koz)
Indicated Oxide 10,170.4 1.28 418.8
Transition 2,458.4 1.53 120.7
Fresh 14.3 2.30 1.1
All Zones 12,643.1 1.33 540.6
Inferred Oxide 7,639.7 0.83 203.8
Transition 1,388.3 1.25 56.0
Fresh 220.1 1.26 8.9
All Zones 9,248.1 0.90 268.7
Total All Zones 21,891.1 1.15 809.3
Table 1: Sanankoro Mineral Resource at a 0.4 g/t Au cut-off as at 31 October
2021
− Figures have been rounded to the appropriate level of precision for
the reporting of Mineral Resources.
− Mineral Resources are stated as in situ dry tonnes; figures are
reported in metric tonnes.
− The Mineral Resource is classified in accordance with the guidelines
of the Australian Code for Reporting of Exploration Results, Mineral Resources
and Ore Reserves, 2012 Edition.
− The Mineral Resource is reported within a conceptual pit shell
determined using a gold price of US$1,800/oz and conceptual parameters and
costs to support assumptions relating to reasonable prospects for eventual
economic extraction.
− Mineral Resources that are not Mineral Reserves do not have
demonstrated economic viability.
Cut-off Grade Grade Above Cut-Off Tonnes Gold
(g/t Au) (g/t Au) (thousands) (koz)
0.3 1.12 22,790.7 819.6
0.4 1.15 21,891.1 809.3
0.5 1.22 19,820.2 779.1
0.6 1.33 17,175.3 732.2
0.7 1.46 14,305.0 672.0
0.8 1.64 11,451.3 603.5
0.9 1.78 9,716.2 556.1
1.0 1.92 8,288.7 512.6
Table 2: Grade cut-off scenarios for US$1800 pit shell
An increase in cut-off grade shows the potential for higher-grade material.
Area Classification Tonnes Grade Gold
(thousands) (g/t Au) (koz)
Zone A Indicated 3,478.4 1.33 149.2
Inferred 743.8 0.62 14.8
Total 4,222.2 1.21 164.0
Zone B Indicated 2,605.1 1.30 108.8
Inferred 3,470.8 0.79 87.9
Total 6,075.9 1.01 196.7
Selin Indicated 6,559.6 1.34 282.6
Inferred 1,430.8 0.99 45.7
Total 7,990.4 1.28 328.3
Zone B North Inferred 2,428.5 0.93 72.3
Total 2,428.5 0.93 72.3
Zone C Inferred 1,174.2 1.27 48.0
Total 1,174.2 1.27 48.0
All Zones Indicated 12,643.1 1.33 540.6
Inferred 9,248.1 0.90 268.7
Total 21,891.1 1.15 809.3
Table 3: Sanankoro Mineral Resource by Deposit
Gold mineralisation was interpreted and modelled from a combination of
structural and assay data for each of the Sanankoro areas (Zone A, B, B North,
C and Selin) as indicated below (Figure 1). The mineralisation, hosted
predominantly in the oxide zone, dips between 75° and 88° to the east and
ranges from a few metres to 60 m thick.
The following cross sections show the geometry of the mineralisation, drill
hole orientation and the reporting pit shells at US$1800/oz for each of the
mineralised areas at Zone A, Zone B and Selin (Figures 2 to 4).
Gold grade was estimated by ordinary kriging from 2m composites into 5m x 20m
x 20m (XYZ) blocks within mineralised domains. Bulk density was determined
using a water displacement technique on wax-coated core and assigned to the
model based on oxidation and geology, such that the duricrust cap has a
density of
2.23 t/m(3), the mottled zone 1.95 t/m(3), oxide material 1.86 t/m(3),
transitional material 2.58 t/m(3) and fresh rock 2.74 t/m(3).
A Mineral Resource is a concentration or occurrence of solid material of
economic interest in or on the Earth's crust in such form, grade, and quantity
that there are reasonable prospects for eventual economic extraction
(RPEEE). To satisfy the requirement of RPEEE by open pit mining, reporting
pit shells were determined based on conceptual parameters and costs using an
US$1800/oz gold price (Figure 5 and Table 4).
Table 4: Mining and cost parameters use to determine reasonable prospects for
eventual economic extraction
Parameter Units Value
Production
Production Rate Tonnes per annum (tpa) 1,000,000 or any
Geotechnical (Overall Pit Slope)
Zone A and C Degrees 35
Zone B and Zone B north Degrees 42
Selin Degrees 42
Mining Factors
Dilution Regularised block model (2.5 * 2.5 * 5 m) - no flat dilution rate 0
Recovery Regularised block model (2.5 * 2.5 * 5 m) - no flat dilution rate 0
Processing Recovery
Hardcap - all zones % 80.0
Saprolite + Saprock - Zone A and Zone B % 95.7
Saprolite + Saprock - Zone B North and Selin % 92.9
Fresh rock - all zones % 80.0
Operating Costs
Base Mining Cost
Ore USD/t 2.50
Waste - Free dig USD/t 2.00
Waste - Drill & blast USD/t 2.60
Bench advance mining cost USD/t per 20 m bench height 0.04
Processing Cost USD/tore 10.00
GA USD/tore 5.00
Selling Cost - Only royalty % 5
Metal Price
Au USD/oz 1,800
The Mineral Resource was classified into Indicated and Inferred categories as
defined by The Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves. Mineral Resource classification considered the
quality and quantity of available data, geological continuity, grade
continuity and confidence in the grade estimates. Indicated Mineral Resources
were classified from data that were deemed acceptable for Mineral Resource
estimation and reporting, and where data were sufficient to model
mineralisation and estimate grade with a reasonable level of confidence for
Indicated Mineral Resources. To classify Indicated Mineral Resources, data
were generally spaced at 35 x 35 m in Zones A and B and at 40 x 40 m at Selin.
The mineralisation at Selin is deemed to be more continuous, hence the wider
spacing allowed for Indicated. Indicated Mineral Resources have slope of
regression values ≥0.75, demonstrating an acceptable level of confidence in
the estimate. Indicated Mineral Resources are reported at Zone A, Zone B and
Selin. The mineralisation at Zone B North and Zone C was deemed to be less
continuous, and data were wider spaced relative to Zones A, B and Selin.
Inferred Mineral Resources were classified beyond the 35 x 35 m (Zones A, B, B
North and C) and 40 x 40 m (Selin) data spacing. Mineral Resources were
constrained by the US$1800 RPEEE pit, below which mineralisation was not
classified and therefore not reported (Figure 6).
Background on the Geology
Sanankoro is located on the leading western edge of the Yanfolila-Kalana
Volcanic Belt, which is the western-most expression of the cratonic
Baoulé-Mossi domain, on the major transcrustal margin with the Siguiri Basin.
There is major deep-seated structural architecture across the district which
links the major gold mines at Siguiri, Lero, Tri-K, Kalana and Yanfolila.
On a project scale, Sanankoro is characterised by the 2 km wide Sanankoro
Shear Zone, which can be traced over 30 km from Kabaya South in the western
Yanfolila Mine to north of the Niger River beyond Selin and onto Karan.
Within the project area, each of the prospects are underpinned by a strong
linear parallel, and where strong mineralisation is developed, a pronounced
localised NE-SW focused zone of en-echelon veining and associated sulphide
development.
Selin Geology
Selin is hosted on the eastern margin of the Sanankoro Shear Zone in the
north-eastern corner of the Sanankoro permit. The Selin deposit has a
typical interference node control but with the additional positive impact of a
strong, rheological diorite intrusive host. The gold geology at Selin is
anchored along this linear, en-echelon or possibly folded, diorite igneous
intrusive which cores the volcaniclastic thrust assemblage and focuses the
gold deposition.
Recent core drilling into Selin has enlightened the genetic model for this
deposit by discovering 4-6 multiple early/pre-D3 dykes of diorite intruding
the 65-80° W dipping axial trace of a western hanging-wall F3 anti-form on
this major reactivated D2 east-verging thrust. The >100 m wide Selin Shear
Zone may be a regional back-thrust and the dominant eastern margin of the
regional west-verging Sanankoro thrust. The largest diorite unit is
demonstrably discordant and sits immediately west and adjacent to a major
early ductile, 10-30 m wide footwall carbonaceous shear. Progressive
deformation has folded, warped and possibly cross-faulted the diorite units
prior to gold deposition. The early footwall shear fabrics are overprinted by
later semi-brittle to brittle graphitic faults which locally convert all
protolith to graphitic schist on sub-metre scale. The diorite units exhibit
multi-phase veining interference and sulphide development. The dominant
sulphide is pyrite with occasional arsenopyrite and a scattering of
chalcopyrite. Alteration minerals are predominantly sericite, silica,
fuchsite, ankerite, graphite and calcite.
Zone A, Zone B and Zone C Geology
Zone A is the second major deposit at Sanankoro behind Selin and shores up
the southern limit of the
11.5 km mineralised corridor, which forms the backbone to the Sanankoro
Project. Zone A is the southernmost expression of the 010(o) trending
central axis of the Sanankoro Shear Zone, which is located 900 m west of the
Selin Boundary Shear and hosts the 5.8 km chain of deposits from Zone A
through Zone B to Target 3 (Zone B North). The deposits of this central
trend verge westward mimicking the regional sense of thrusting.
Zone B is the third major deposit at Sanankoro behind Selin and Zone A. It is
the strike extension of Zone A, located 800 m to the north. The Sanankoro
Main Trend strikes for 6 km from the south end of Zone A to the north end of
Target 3 (Zone B North). Detailed sectional drilling is required along the
length of this major generative gold system. The local structural facing and
stratigraphy of Zone B is very similar to Zone A with the western footwall
sequences hosting more crystalline volcanic tuffaceous units and the eastern,
hanging wall assemblages being more basinal sediments. Zone B hosts an
impressive scale of hydrothermal activity and the broad horizontal widths of
mineralisation observed in the recent drilling bodes well for future discovery
potential along the central and southern sections of the Sanankoro Main Shear
Zone (SMSZ).
Zone C is located 650 m southwest of Zone A on the parallel, +7 km long
Sanankoro West Shear Zone (SWSZ) which can be traced along a chain of surface
workings to the Excavator Prospect, 1.5 km NNW of Target 3 (Zone B North).
Zones A, B and C deposits are identical in style and typical of Siguiri Basin
Deposits, fold-thrust controlled within pelitic and psammitic sediments and
very deeply weathered (>120 m from surface). There is a highly evolved
weathering profile with a pronounced 8-10 m thick duricrust-laterite
ferro-cap, grading downward into a well-developed mottled zone until 20-25 m
and remains highly weathered until beyond 130 m vertically within the central
mineralised fault zone. Below the saprolite lies a 35-40 m thick transition
zone ending in top of fresh rock at between 160 to 170 m.
All of the host oxide lithologies are weathered to kaolin with only highly
corroded quartz vein material remaining in-situ to mark the main gold faults.
Diamond core shows the host lithologies to be predominantly variably grained
basinal pelites and sandstones with minor horizons of small quartz clast,
matrix-supported greywacke inter-bedded within the sequence. A minor
intercept of diorite has been identified but does not form an important
control to the mineralisation currently drill tested at Zone A or C. The
primary sulphide is pyrite disseminated around central vein networks and
enveloped by a broader hydrothermal halo of silica flooding, sericite and
ankerite.
Permit information
The Sanankoro Gold Project (area 341.87 sq km) is located in the Yanfolila
Gold Belt of southern Mali. Sanankoro comprises five contiguous gold
exploration permits, being Bokoro II (area 63.1 sq km; expiry date 25 August
2023), Bokoro Est (area 100 sq km; expiry date 18 September 2028), Dako II
(area 44.66 sq km; expiry date 31 December 2027), Kodiou (area 50 sq km;
expiry date 15 May 2023) and Sanankoro II (see below). This MRE and the
ongoing DFS are both focussed on resources within the Sanankoro II gold
exploration permit.
In accordance with the 2019 Mining Code of the Republic of Mali, the 84.11 sq
km Sanankoro II gold exploration permit was awarded to Cora Resources Mali
SARL on 2 March 2021. Cora Resources Mali SARL is registered in the Republic
of Mali. The duration of the permit is three years, renewable twice at the
holder's request, the duration of each renewal period is extended to three
years as such the full term expiry date of the Sanankoro gold exploration
permit is 2 March 2030. Cora Resources Mali SARL is a wholly owned
subsidiary of Sankarani Ressources SARL which in turn is a 95% subsidiary of
Cora Gold Limited. Sankarani Ressources SARL is registered in the Republic of
Mali. Cora Gold Limited is registered in the British Virgin Islands. The
residual 5% interest in Sankarani Ressources SARL may be acquired from a third
party for the sum of US$1 million. In addition, the Sanankoro II permit is
subject to a third party 1% Net Smelter Return ('NSR') royalty. All fees due
to the government in respect of the Sanankoro II gold exploration permit have
been paid and the permit is in good standing.
Competent persons statement:
The Mineral Resource estimate was carried out by Mr. Anton Geldenhuys (MEng),
a registered Professional Natural Scientist (SACNASP, membership number
400313/04) of CSA Global (Pty) Ltd., who is an independent Competent Person
(CP) as defined by The Australasian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves. Mr. Geldenhuys is a geoscientist and is
qualified as a geologist (Honours) and engineer (Masters) and has over 20
years of relevant industry experience. Mr. Geldenhuys is member in good
standing of the South African Council for Natural Scientific Professions
(SACNASP) and has sufficient experience relevant to the commodity, style of
mineralisation and activity which he is undertaking to qualify as a CP under
The JORC Code. Mr. Geldenhuys has reviewed and approved the scientific and
technical information in this news release.
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 further information, please visit http://www.coragold.com
(http://www.coragold.com/) or contact:
Bert Monro Cora Gold Limited +44 (0) 20 3239 0010
Craig Banfield
Christopher Raggett finnCap Ltd +44 (0) 20 7220 0500
Charlie Beeson Nomad & Joint Broker
Andy Thacker Turner Pope Investments +44 (0) 20 3657 0050
James Pope Joint Broker
Susie Geliher St Brides Partners cora@stbridespartners.co.uk
Selina Lovell Financial PR
Notes
Cora Gold is an emerging West African gold developer with three principal
de-risked project areas within two known gold belts in Mali and Senegal
covering over +1,100 sq km. Led by a team with a proven track record in
making multi-million-ounce gold discoveries that have been developed into
operating mines, its primary focus is on developing the Sanankoro Gold Project
in the Yanfolila Gold Belt, Southern Mali, where Cora hopes to commence
construction of an open pit oxide focussed gold mine in 2022. An updated
mineral resource estimate on the Project was published in November 2021 which
increased the Resources by over 200% (from the 2019 Maiden resource) to
809,300ozs Au. A Definitive Feasibility Study is expected to be completed
in H1 2022.
Glossary of Terms and Abbreviations
Mineral Resource a
concentration or occurrence of solid material of economic interest in or on
the Earth's crust in such form, grade (or quality), and quantity that there
are reasonable prospects for eventual economic extraction. The location,
quantity, grade (or quality), continuity and other geological characteristics
of a Mineral Resource are known, estimated or interpreted from specific
geological evidence and knowledge, including sampling. Mineral Resources are
sub-divided, in order of increasing geological confidence, into Inferred,
Indicated and Measured categories
Inferred Mineral Resource that part of a Mineral Resource for
which quantity and grade (or quality) are estimated on the basis of limited
geological evidence and sampling. Geological evidence is sufficient to imply
but not verify geological and grade (or quality) continuity. It is based on
exploration, sampling and testing information gathered through appropriate
techniques from locations such as outcrops, trenches, pits, workings and drill
holes. An Inferred Mineral Resource has a lower level of confidence than
that applying to an Indicated Mineral Resource and must not be converted to an
Ore Reserve. It is reasonably expected that the majority of Inferred Mineral
Resources could be upgraded to Indicated Mineral Resources with continued
exploration.
Indicated Mineral Resource that part of a Mineral Resource for
which quantity, grade (or quality), densities, shape and physical
characteristics are estimated with sufficient confidence to allow the
application of Modifying Factors in sufficient detail to support mine planning
and evaluation of the economic viability of the deposit. Geological evidence
is derived from adequately detailed and reliable exploration, sampling and
testing gathered through appropriate techniques from locations such as
outcrops, trenches, pits, workings and drill holes, and is sufficient to
assume geological and grade (or quality) continuity between points of
observation where data and samples are gathered. An Indicated Mineral
Resource has a lower level of confidence than that applying to a Measured
Mineral Resource and may only be converted to a Probable Ore Reserve.
Strike
the course or bearing of the outcrop of an inclined bed, vein, or fault plane
on a level surface; the direction of a horizontal line perpendicular to the
direction of the dip.
JORC
Code
The Australasian Code for Reporting of Exploration Results, Mineral Resources
and Ore Reserves, 2012 Edition, Prepared by the Joint Ore Reserves Committee
of The Australasian Institute of Mining and Metallurgy, Australian Institute
of Geoscientists and Minerals Council of Australia ("JORC").
Drillhole
technically, a circular hole drilled by forces applied percussively; loosely
and commonly, the name applies to a circular hole drilled in any manner.
Drilling
the operation of making deep holes with a drill for prospecting, exploration,
or valuation.
Core
a solid, cylindrical sample of rock typically produced by a rotating drill
bit, but sometimes cut by percussive methods.
Ore
Reserves
is the economically mineable part of a Measured and/or Indicated Mineral
Resource. It includes diluting materials and allowances for losses, which may
occur when the material is mined or extracted and is defined by studies at
Pre-Feasibility or Feasibility level as appropriate that include application
of Modifying Factors. Such studies demonstrate that, at the time of reporting,
extraction could reasonably be justified.
Competent Person A 'Competent
Person' is a minerals industry professional who is a Member or Fellow of The
Australasian Institute of Mining and Metallurgy, or of the Australian
Institute of Geoscientists, or of a 'Recognised Professional Organisation'
(RPO), as included in a list available on the JORC and ASX websites. These
organisations have enforceable disciplinary processes including the powers to
suspend or expel a member. A Competent Person must have a minimum of five
years relevant experience in the style of mineralisation or type of deposit
under consideration and in the activity which that person is undertaking. If
the Competent Person is preparing documentation on Exploration Results, the
relevant experience must be in exploration. If the Competent Person is
estimating, or supervising the estimation of Mineral Resources, the relevant
experience must be in the estimation, assessment and evaluation of Mineral
Resources. If the Competent Person is estimating, or supervising the
estimation of Ore Reserves, the relevant experience must be in the estimation,
assessment, evaluation and economic extraction of Ore Reserves.
Dip
the angle at which a bed, stratum, or vein is inclined from the horizontal,
measured perpendicular to the strike and in the vertical plane.
Grade
the relative quantity or the percentage of ore-mineral or metal content in an
orebody.
Wireframe
three dimensional solids representing geological/mineralogical domains.
Cut - off grade
The lowest
grade of mineralised material that qualifies as Mineral Resource.
Deposit
An occurrence of economically interesting minerals.
Exploration
The act of investigation for the location of undiscovered mineral deposits.
Assay
Measure of gold content.
Mineralisation
The process by which minerals are introduced into a rock. More generally, a
term applied to accumulations minerals in quantities ranging from weakly
anomalous to economically recoverable.
Sulphide A
sulphur bearing mineral.
Block
Model
A three-dimensional structure into which variables are interpolated and
extrapolated during the Mineral Resource estimation process.
Saprock
Partially weathered bedrock, consisting of a combination of partially
weathered minerals and unweathered minerals, with all the fabric and
structural features of the bedrock maintained.
Saprolite
Chemically weathered bedrock, which still retains the original lithological
fabric, but is more altered than saprock.
Hardcap
An indurated or hardened layer in or on a soil.
Oxide
In the context of this release, all weathered rock, including the saprock,
saprolite and hardcap material.
Exploration Target A
statement or estimate of the exploration potential of a mineral deposit in a
defined geological setting where the statement or estimate, quoted as a range
of tonnes and a range of grade (or quality), relates to mineralisation for
which there has been insufficient exploration to estimate a Mineral Resource.
Mt Million tonnes
Au Gold
g/t Grams per tonne
oz Troy ounce
Moz Million troy ounces
MRE Mineral Resource Estimate
RC Reverse circulation
AC Air core
RAB Rotary air blast
CP Competent Person, as
defined by the JORC Code
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 · The Mineral Resource estimate (MRE) is based on reverse circulation
specific specialised industry standard measurement tools appropriate to the chip and diamond drill core sampling. The 2021 programme was composed of
minerals under investigation, such as down hole gamma sondes, or handheld XRF 39,791 metres of RC and 3,406.6 metres of DD.
instruments, etc). These examples should not be taken as limiting the broad
meaning of sampling. · RC was ubiquitously sampled on 1m intervals. Each rod string is 6m in
length and is checked and marked with grease every 1m to allow personnel to
· Include reference to measures taken to ensure sample representivity and observe sampling and drill progress. The driller will sound a horn at the end
the appropriate calibration of any measurement tools or systems used. of each 1 m interval, warning the samplers to switch bags at the cyclone.
· Aspects of the determination of mineralisation that are Material to the · All industry standard RC sample quality procedures were applied and
Public Report. each shift a geologist was present to insure sample quality was maintained,
holes were not stopped in mineralisation and activity reporting monitored cost
· In cases where 'industry standard' work has been done this would be control. No detailed logging or sampling was conducted at the rigs.
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 · All bulk 1m samples were transported immediately upon hole completion
assay'). In other cases more explanation may be required, such as where there to a central bag farm next to the Sanankoro camp. No samples were left in the
is coarse gold that has inherent sampling problems. Unusual commodities or field. All samples drilled were shipped to the bag farm for splitting and
mineralisation types (eg submarine nodules) may warrant disclosure of detailed logging under controlled and secured conditions.
information.
· The 1m bulk samples are riffle split down to 5-6kg using a 3 Tier 75:25
riffle splitter and a duplicate pair of 2-3kg samples are then generated using
a 2 tier 50:50 riffle splitter. One sample is sent to the lab and the
duplicate is stored for any future re-assay or reference.
· All RC holes are photographed on chip tables and chip trayed after
sampling and logging.
· All RC holes are geologically logged and panned for visible gold on
1 m intervals concurrently with sampling.
· The logging and panning results dictate whether the logging or senior
geologist will instruct compositing in less favourable intersections of a
hole. Composites of 4 m are possible in barren intersections.
· Sampling of DD core aims to maintain a standard 1 m interval but can be
sampled from 0.5 m to 1.5 m in length, depending upon the interval required to
reach the mineralised contact or select the vein width.
· All core is saw cut. Sample interval ends are saw cut pre-sampling to
ensure sampling intervals are adhered to.
· All core boxes are metal.
· All core boxes are photographed wet and dry upon receipt at the core
shed from the rig.
· The RC samples were sent to an accredited laboratory where they were
pulverised to 85% passing 75 micron in a Labtechnics LM2 puck pulveriser and
sub-sampled to provide 2 kg for CN Bottle Roll and/or a 50 g aliquot for fire
assay. Bottle roll is the preferred assaying method for oxide materials and
fire assay for fresh or sulphide-rich material.
· RAB, aircore and aircore hammer were sampled and analysed as per the RC
procedure.
· The DD samples are sent to an accredited laboratory where they were
jaw-crushed 95% passing 2 mm, then pulverised down to 85% passing 75 micron in
an Labtechnics LM2 puck pulveriser and sub-sampled to provide 2 kg for CN
Bottle Roll and/or a 50 g aliquot for fire assay. Bottle roll is the preferred
assaying method for oxide materials and fire assay for fresh or sulphide-rich
materials.
· Vertical auger drilling was conducted to gain a sample of the interface
material below transported surface gravels. Auger holes ranged from 0.5-5.0 m
and were sent to an accredited laboratory where they were pulverised to 85%
passing 75 micron in a Labtechnics LM2 puck pulveriser and sub-sampled to
provide 2 kg for CN Bottle Roll and or a 50 g aliquot for fire assay. Bottle
roll is the preferred assaying method for oxide materials and fire assay for
fresh or sulphide-rich material.
Drilling techniques · Drill type (eg core, reverse circulation, open-hole hammer, rotary air · Various drilling techniques have been used at Sanankoro - auger, RAB,
blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or air core, aircore hammer, RC and diamond core.
standard tube, depth of diamond tails, face-sampling bit or other type,
whether core is oriented and if so, by what method, etc). · The database was supplied as two parts, an exploration database
consisting of auger, RAB, aircore and aircore hammer; and a Mineral Resource
database consisting of RC and diamond drilling.
· All core intervals are orientated using a WELLFORCE DV8 iCORE ORI
instrument when geologically possible.
· DD core was drilled on an average of 3 m rod pulls but depending upon
ground conditions 1.5 m or 6 m rod pulls could have been applied. PQ was used
through the soft, friable oxide from surface normally to between 40 and 80 m.
The drill string was reduced subsequently to HQ. NQ was not drilled in 2021.
· RC was drilled using a 5 (3/8)" face-sampling hammer
· All drilling details and dates are recorded on hole logs and are stored
in the COLLAR file on DATASHED™.
Drill sample recovery · Method of recording and assessing core and chip sample recoveries and · DD core was drilled on an average of 3 m rod pulls but depending upon
results assessed. ground conditions 1.5 m or 6 m rod pulls could have been applied. PQ was used
through the soft, friable oxide from surface normally to between 40 and 80
· Measures taken to maximise sample recovery and ensure representative metres. The drill string was reduced subsequently to HQ. NQ was not drilled in
nature of the samples. 2021.
· Whether a relationship exists between sample recovery and grade and · DD core recoveries were estimated on industry standard methods of
whether sample bias may have occurred due to preferential loss/gain of direct tape measure on core reconstructed on a triple-length angle-iron
fine/coarse material. cradle, locked where possible and corrected for stick-up errors.
· RC was drilled using a 5 (3/8)" face-sampling hammer leading a 4(1/2)"
standard rod string. Auxiliary booster-compressor air packs were used on
deeper holes, normally > 110m, to ensure dry sample quality and recovery.
· The RC drilling was sampled on a standard 1 m interval and recoveries
assessed quantitively by weighing each sampled metre. A total of 40,640 RC
sample weights were recorded in 2021. The practice of weighing drill chip
samples immediately from recovery at the rig is Cora Gold standard practice
for all RAB, air core and RC drilling.
· Sample quality and recovery are monitored at the rig during drilling
shift both observationally by the geologist checking the moisture content,
possible contamination and relative recovery along the bag line and
quantitively by weighing each of the bulk 1 m samples direct from the cyclone
before layout.
· Diamond core and RC recoveries are logged and recorded in the
database. Overall recoveries are >90% for the diamond core and >70%
for the RC; there are no core loss issues or significant sample recovery
problems. A geologist is always present at the rig to monitor and record
sample quality.
· The Mineral Resource is defined by DD and RC drilling, which have high
sample recoveries. No relationship between sample recovery and grade have
been identified at the project. The consistency of the mineralised intervals
and density of drilling is considered to preclude any issue of sample bias due
to material loss or gain.
Logging · Whether core and chip samples have been geologically and geotechnically · All RC holes are logged, panned and sampled on a standard 1 m
logged to a level of detail to support appropriate Mineral Resource resolution. Every 1 m drilled is logged and panned before being sampled.
estimation, mining studies and metallurgical studies.
· 4 m compositing may be instructed in barren sections of drilled hole
· Whether logging is qualitative or quantitative in nature. Core (or based on the results of the detailed logging.
costean, channel, etc) photography.
· All RC holes are photographed on chip tables and chip trayed after
· The total length and percentage of the relevant intersections logged. sampling and logging.
· All DD core is transported to the core shed located at the main
Sanankoro Camp for full RQD, geotechnical logging and density/PLT
determinations prior to being released for geological logging and sampling
from top to bottom of hole.
· All core boxes are photographed wet and dry upon receipt at the core
shed from the rig.
· The level of detail in the logging is deemed appropriate for Mineral
Resource estimation and reporting.
Sub-sampling techniques and sample preparation · If core, whether cut or sawn and whether quarter, half or all core · All RC chip samples were weighed and riffle split to 2-3kg for
taken. submission to the lab. All RC holes are sampled in bulk, logged and panned on
a standard 1 m interval. Compositing to 4 m may occur in barren geology.
· If non-core, whether riffled, tube sampled, rotary split, etc and
whether sampled wet or dry. · All DD core is saw cut and half core sampled. DD sample intervals can
range from 0.5 m to 1.5 m, depending on geology.
· For all sample types, the nature, quality and appropriateness of the
sample preparation technique. · A standard 5 in 25 sample QAQC was used throughout 2021, composed of 1
standard, 1 blank, 2 duplicates and 1 triplicate. The 2021 assay stream had a
· Quality control procedures adopted for all sub-sampling stages to routine 20% QAQC component.
maximise representivity of samples.
· The database manager monitors all sampling and QAQC vetting of the
· Measures taken to ensure that the sampling is representative of the in assay stream.
situ material collected, including for instance results for field
duplicate/second-half sampling. · Field duplicates assist in determining the representivity of
sub-samples.
· Whether sample sizes are appropriate to the grain size of the material
being sampled. · QC Category ratios
QC Category DH Sample Count QC Sample Count Ratio of QC Samples to DH Samples
Field duplicate 31,600 2,928 1:11
Triplicate (Second Field duplicate) 31,600 1,371 1:23
· Sub-samples are deemed appropriate for Mineral Resource estimation and
reporting.
Quality of assay data and laboratory tests · The nature, quality and appropriateness of the assaying and laboratory · Sample preparation involved oven drying, jaw crushing core P70 passing
procedures used and whether the technique is considered partial or total. 2 mm, followed by total pulverisation through an LM2 puck pulveriser to a
nominal 85% passing 75 microns.
· For geophysical tools, spectrometers, handheld XRF instruments, etc,
the parameters used in determining the analysis including instrument make and · Historically it has been proven that the nuggety, highly weathered
model, reading times, calibrations factors applied and their derivation, etc. nature of the Sanankoro oxide mineralisation is best head assayed by 2 kg
Bottle Roll/AAS with a 50 g Fire Assay/AAS on the BR tail residue. The bulk of
· Nature of quality control procedures adopted (eg standards, blanks, the MRE assay database is completed by this method.
duplicates, external laboratory checks) and whether acceptable levels of
accuracy (i.e. lack of bias) and precision have been established. · The fresh sulphide mineralisation is assayed by standard total fusion
50 g Fire Assay/AAS. A total of 18,430 fire assays were reported.
· A total of 29,899 Bottle Roll (Leachwell) assays were reported with
7,561 Fire Assay/AAS Tails
· A standard 5 in 25 sample QAQC was used throughout 2021, composed of 1
standard, 1 blank, 2 duplicates and 1 triplicate. The 2021 assay stream had a
routine 20% QAQC component.
· Laboratory summary
Laboratories ALS VERITAS Cote d'Ivoire SGS_ SGS
Burkina Faso Burkina Faso Mali
No. of Batches 164 3 52 5
No. of DH Samples 22836 165 7782 817
No. of QC Samples 6664 45 1095 124
No. of Standard Samples 7226 83 2839 159
· Standard type ratios
Standard Type DH Sample Count Standard Type Count Standard Sample Count Ratio of QC Standard to DH Samples
BLANK 31600 1 1702 1:19
CRM 31600 22 1495 1:21
· CRM standards were sourced from accredited suppliers Geostats Pty Ltd.
and Rocklabs. CRM standards were used ranging from 0.1 ppm to 78.81 ppm
Std Code Exp Value Exp SD No of Samples Supplier
G301-9 10.47 0.44 97 Geostats
G314-5 5.29 0.17 98 Geostats
G314-8 1.03 0.04 12 Geostats
G315-5 0.1 0.01 12 Geostats
G316-1 0.31 0.02 12 Geostats
G318-3 0.72 0.03 12 Geostats
G320-1 78.81 3.96 99 Geostats
G912-2 2.51 0.11 97 Geostats
G917-1 48.37 1.53 98 Geostats
G917-2 24.36 0.73 98 Geostats
HISILK4 3.463 0.09 24 Rocklabs
OXD151 0.43 0.009 174 Rocklabs
OXE150 0.658 0.016 60 Rocklabs
OXF162 0.832 0.027 49 Rocklabs
OXG140 1.019 0.022 116 Rocklabs
OXH149 1.279 0.035 77 Rocklabs
OXJ161 2.501 0.054 63 Rocklabs
OXK160 3.674 0.078 216 Rocklabs
OXP154 15.262 0.27 13 Rocklabs
OXQ115 25.22 0.59 18 Rocklabs
SJ111 2.812 0.068 33 Rocklabs
SL76 5.96 0.192 17 Rocklabs
· Following review of the QAQC, the data are deemed appropriate for
Mineral Resource estimation and reporting.
Verification of sampling and assaying · The verification of significant intersections by either independent or · The CP has visually verified significant intersections in diamond core
alternative company personnel. and RC drilling during the site visit.
· The use of twinned holes. · Geology and sampling data were logged into Excel format templates and
sent via e-mail to the database manager. Files were imported into Datashed
· Documentation of primary data, data entry procedures, data via configured importers and passed through stringent validation. Validation
verification, data storage (physical and electronic) protocols. included:
· Discuss any adjustment to assay data. · Logging codes checked against approved code lists
· Interval overlaps and gaps
· Records beyond end-of-hole
· All digital files received were archived on the workstation hosting the
database. This was located on site with the database manager. Scheduled daily
backups of the database and file archive were made to a NAS solution located
at the same site. Nightly scheduled offsite backups were conducted to a
verified backup service provider. All offsite backups are encrypted.
· During 2021 MRE drill program, historical Goldfields RC and DD
intercepts were twinned, along with previous Cora Gold aircore and RAB
intercepts and previous important DD intercepts which correlated with sections
of poor DD core recoveries.
· The Goldfields twin holes correlated closely, under-writing the use of
the Goldfields Mineral Resource data in the MRE.
· Overall, the drilling, logging, sampling, assaying and QAQC procedures
are considered to be consistent with industry standard practice.
· No adjustments or calibrations were made to any assay data used in this
estimate.
Location of data points · Accuracy and quality of surveys used to locate drill holes (collar and · Grid System: WGS84 UTM zone 29N (EPSG: 32629)
down-hole surveys), trenches, mine workings and other locations used in
Mineral Resource estimation. · All surface survey features were surveyed with a LEICA GS18-T RTK DGPS
to within a proven accuracy of 30 cm; Cora Gold conducted the DGPS work. All
· Specification of the grid system used. new and historical Mineral Resource drill collars were located and resurveyed
by CG-LEICA in 2021.
· Quality and adequacy of topographic control.
· A large number of well distributed ground control points and features
were used for the TERRABOTICS satellite survey. All points were set-out or
picked-up using CG-LEICA.
· TERRABOTICS UK produced a site specific 139 km(2) DTM with 0.3 m RL
accuracy using tasked MAXAR orthorectified WV3 imagery flown in Nov-Dec 2020.
The DTM was provided in February 2021 and utilised throughout the latest drill
programme from March to August 2021.
· The TERRABOTICS DTM proved accurate from on-going survey work to be
within 30-50 cm RL. DGPS easting and northing showed better resolution.
· The TERRABOTICS DTM is an acceptable topographic model for Sanankoro
which defines the surface relief and maps the artisanal pits across the
139km(2) area of interest (AOI) accurately. The WV3 imagery maps the full
cadastral and natural features across the project area.
· The 2021 drilling utilised a WELLFORCE CHAMP north-seeking gyro
throughout and every drilled RC and DD hole has a detailed gyro DTH survey
file. Historically, DTH surveys where conducted, used a REFLEX EZ-TRAC.
· The 2021 DD drilling utilised a WELLFORCE DV8 iCORE ORI orientation
tool.
Data spacing and distribution · Data spacing for reporting of Exploration Results. · The nominal drillhole collar spacing is 50 m x 25 m and 50 m x 50 m.
· Whether the data spacing and distribution is sufficient to establish · Due to the orientation of drill traces on section, data between
the degree of geological and grade continuity appropriate for the Mineral drillholes can be spaced as close as 10 m in places.
Resource and Ore Reserve estimation procedure(s) and classifications applied.
· The mineralised domains have demonstrated sufficient continuity in both
· Whether sample compositing has been applied. geology and grade to support the definition of Inferred and Indicated Mineral
Resources as per JORC 2012 guidelines.
Orientation of data in relation to geological structure · Whether the orientation of sampling achieves unbiased sampling of · The bulk of the drilling is orientated 090(o) or 270(o) orthogonal to
possible structures and the extent to which this is known, considering the the strike of the mineralised domains. Structural logging based on oriented
deposit type. core indicates that the main mineralisation controls are +/-20(o) from 000
north and largely perpendicular to drill direction.
· If the relationship between the drilling orientation and the
orientation of key mineralised structures is considered to have introduced a · No orientation-based sampling bias has been identified in the dataset.
sampling bias, this should be assessed and reported if material.
Sample security · The measures taken to ensure sample security. · The full chain of custody is managed by Cora Gold. Samples collected
daily from the rigs and transported to the central bag farm and sample
processing area next to the main Sanankoro camp where the bulk samples are
logged, split and prepared for onward transport to the various labs.
· The samples are stored on site and a truck collects available samples
weekly and transports them to Cora Gold office in Bamako for registration and
verification prior to onward delivery to either SGS Ouagadougou or ALS
Ouagadougou.
· The labs sign sample submissions as evidence of receipt.
· Completed assay files and pdf certificates were distributed to the
approved recipients by Lab LIMS. Assay files were imported as received to
Datashed and then archived on the workstation hosting the database.
· Database management software used is DATASHED version 4.6.4.2 with DB
version 4.6.5 with MSSQL Server SQL2017 backend.
Audits or reviews · The results of any audits or reviews of sampling techniques and data. · Cora Gold's Head of Exploration visited each of the labs in November
and December 2020 before signing contracts. No issues were identified during
the visit.
· Sub-samples are deemed appropriate for Mineral Resource estimation and
reporting.
Quality of assay data and laboratory tests
· The nature, quality and appropriateness of the assaying and laboratory
procedures used and whether the technique is considered partial or total.
· For geophysical tools, spectrometers, handheld XRF instruments, etc,
the parameters used in determining the analysis including instrument make and
model, reading times, calibrations factors applied and their derivation, etc.
· Nature of quality control procedures adopted (eg standards, blanks,
duplicates, external laboratory checks) and whether acceptable levels of
accuracy (i.e. lack of bias) and precision have been established.
· Sample preparation involved oven drying, jaw crushing core P70 passing
2 mm, followed by total pulverisation through an LM2 puck pulveriser to a
nominal 85% passing 75 microns.
· Historically it has been proven that the nuggety, highly weathered
nature of the Sanankoro oxide mineralisation is best head assayed by 2 kg
Bottle Roll/AAS with a 50 g Fire Assay/AAS on the BR tail residue. The bulk of
the MRE assay database is completed by this method.
· The fresh sulphide mineralisation is assayed by standard total fusion
50 g Fire Assay/AAS. A total of 18,430 fire assays were reported.
· A total of 29,899 Bottle Roll (Leachwell) assays were reported with
7,561 Fire Assay/AAS Tails
· A standard 5 in 25 sample QAQC was used throughout 2021, composed of 1
standard, 1 blank, 2 duplicates and 1 triplicate. The 2021 assay stream had a
routine 20% QAQC component.
· Laboratory summary
Laboratories ALS VERITAS Cote d'Ivoire SGS_ SGS
Burkina Faso Burkina Faso Mali
No. of Batches 164 3 52 5
No. of DH Samples 22836 165 7782 817
No. of QC Samples 6664 45 1095 124
No. of Standard Samples 7226 83 2839 159
· Standard type ratios
Standard Type DH Sample Count Standard Type Count Standard Sample Count Ratio of QC Standard to DH Samples
BLANK 31600 1 1702 1:19
CRM 31600 22 1495 1:21
· CRM standards were sourced from accredited suppliers Geostats Pty Ltd.
and Rocklabs. CRM standards were used ranging from 0.1 ppm to 78.81 ppm
Std Code Exp Value Exp SD No of Samples Supplier
G301-9 10.47 0.44 97 Geostats
G314-5 5.29 0.17 98 Geostats
G314-8 1.03 0.04 12 Geostats
G315-5 0.1 0.01 12 Geostats
G316-1 0.31 0.02 12 Geostats
G318-3 0.72 0.03 12 Geostats
G320-1 78.81 3.96 99 Geostats
G912-2 2.51 0.11 97 Geostats
G917-1 48.37 1.53 98 Geostats
G917-2 24.36 0.73 98 Geostats
HISILK4 3.463 0.09 24 Rocklabs
OXD151 0.43 0.009 174 Rocklabs
OXE150 0.658 0.016 60 Rocklabs
OXF162 0.832 0.027 49 Rocklabs
OXG140 1.019 0.022 116 Rocklabs
OXH149 1.279 0.035 77 Rocklabs
OXJ161 2.501 0.054 63 Rocklabs
OXK160 3.674 0.078 216 Rocklabs
OXP154 15.262 0.27 13 Rocklabs
OXQ115 25.22 0.59 18 Rocklabs
SJ111 2.812 0.068 33 Rocklabs
SL76 5.96 0.192 17 Rocklabs
· Following review of the QAQC, the data are deemed appropriate for
Mineral Resource estimation and reporting.
Verification of sampling and assaying
· The verification of significant intersections by either independent or
alternative company personnel.
· The use of twinned holes.
· Documentation of primary data, data entry procedures, data
verification, data storage (physical and electronic) protocols.
· Discuss any adjustment to assay data.
· The CP has visually verified significant intersections in diamond core
and RC drilling during the site visit.
· Geology and sampling data were logged into Excel format templates and
sent via e-mail to the database manager. Files were imported into Datashed
via configured importers and passed through stringent validation. Validation
included:
· Logging codes checked against approved code lists
· Interval overlaps and gaps
· Records beyond end-of-hole
· All digital files received were archived on the workstation hosting the
database. This was located on site with the database manager. Scheduled daily
backups of the database and file archive were made to a NAS solution located
at the same site. Nightly scheduled offsite backups were conducted to a
verified backup service provider. All offsite backups are encrypted.
· During 2021 MRE drill program, historical Goldfields RC and DD
intercepts were twinned, along with previous Cora Gold aircore and RAB
intercepts and previous important DD intercepts which correlated with sections
of poor DD core recoveries.
· The Goldfields twin holes correlated closely, under-writing the use of
the Goldfields Mineral Resource data in the MRE.
· Overall, the drilling, logging, sampling, assaying and QAQC procedures
are considered to be consistent with industry standard practice.
· No adjustments or calibrations were made to any assay data used in this
estimate.
Location of data points
· Accuracy and quality of surveys used to locate drill holes (collar and
down-hole surveys), trenches, mine workings and other locations used in
Mineral Resource estimation.
· Specification of the grid system used.
· Quality and adequacy of topographic control.
· Grid System: WGS84 UTM zone 29N (EPSG: 32629)
· All surface survey features were surveyed with a LEICA GS18-T RTK DGPS
to within a proven accuracy of 30 cm; Cora Gold conducted the DGPS work. All
new and historical Mineral Resource drill collars were located and resurveyed
by CG-LEICA in 2021.
· A large number of well distributed ground control points and features
were used for the TERRABOTICS satellite survey. All points were set-out or
picked-up using CG-LEICA.
· TERRABOTICS UK produced a site specific 139 km(2) DTM with 0.3 m RL
accuracy using tasked MAXAR orthorectified WV3 imagery flown in Nov-Dec 2020.
The DTM was provided in February 2021 and utilised throughout the latest drill
programme from March to August 2021.
· The TERRABOTICS DTM proved accurate from on-going survey work to be
within 30-50 cm RL. DGPS easting and northing showed better resolution.
· The TERRABOTICS DTM is an acceptable topographic model for Sanankoro
which defines the surface relief and maps the artisanal pits across the
139km(2) area of interest (AOI) accurately. The WV3 imagery maps the full
cadastral and natural features across the project area.
· The 2021 drilling utilised a WELLFORCE CHAMP north-seeking gyro
throughout and every drilled RC and DD hole has a detailed gyro DTH survey
file. Historically, DTH surveys where conducted, used a REFLEX EZ-TRAC.
· The 2021 DD drilling utilised a WELLFORCE DV8 iCORE ORI orientation
tool.
Data spacing and distribution
· Data spacing for reporting of Exploration Results.
· Whether the data spacing and distribution is sufficient to establish
the degree of geological and grade continuity appropriate for the Mineral
Resource and Ore Reserve estimation procedure(s) and classifications applied.
· Whether sample compositing has been applied.
· The nominal drillhole collar spacing is 50 m x 25 m and 50 m x 50 m.
· Due to the orientation of drill traces on section, data between
drillholes can be spaced as close as 10 m in places.
· The mineralised domains have demonstrated sufficient continuity in both
geology and grade to support the definition of Inferred and Indicated Mineral
Resources as per JORC 2012 guidelines.
Orientation of data in relation to geological structure
· Whether the orientation of sampling achieves unbiased sampling of
possible structures and the extent to which this is known, considering the
deposit type.
· If the relationship between the drilling orientation and the
orientation of key mineralised structures is considered to have introduced a
sampling bias, this should be assessed and reported if material.
· The bulk of the drilling is orientated 090(o) or 270(o) orthogonal to
the strike of the mineralised domains. Structural logging based on oriented
core indicates that the main mineralisation controls are +/-20(o) from 000
north and largely perpendicular to drill direction.
· No orientation-based sampling bias has been identified in the dataset.
Sample security
· The measures taken to ensure sample security.
· The full chain of custody is managed by Cora Gold. Samples collected
daily from the rigs and transported to the central bag farm and sample
processing area next to the main Sanankoro camp where the bulk samples are
logged, split and prepared for onward transport to the various labs.
· The samples are stored on site and a truck collects available samples
weekly and transports them to Cora Gold office in Bamako for registration and
verification prior to onward delivery to either SGS Ouagadougou or ALS
Ouagadougou.
· The labs sign sample submissions as evidence of receipt.
· Completed assay files and pdf certificates were distributed to the
approved recipients by Lab LIMS. Assay files were imported as received to
Datashed and then archived on the workstation hosting the database.
· Database management software used is DATASHED version 4.6.4.2 with DB
version 4.6.5 with MSSQL Server SQL2017 backend.
Audits or reviews
· The results of any audits or reviews of sampling techniques and data.
· Cora Gold's Head of Exploration visited each of the labs in November
and December 2020 before signing contracts. No issues were identified during
the visit.
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 Sanankoro Gold Project (area 341.87 sq km) is located in the
agreements or material issues with third parties such as joint ventures, Yanfolila Gold Belt of southern Mali. The Sanankoro Gold Project comprises
partnerships, overriding royalties, native title interests, historical sites, five contiguous gold exploration permits, being Bokoro II (area 63.1 sq km;
wilderness or national park and environmental settings. expiry date 25 August 2023), Bokoro Est (area 100 sq km; expiry date 18
September 2028), Dako II (area 44.66 sq km; expiry date 31 December 2027),
· The security of the tenure held at the time of reporting along with any Kodiou (area 50 sq km; expiry date 15 May 2023) and Sanankoro II (see below).
known impediments to obtaining a license to operate in the area. The Definitive Feasibility Study is focused on Mineral Resources within the
Sanankoro II gold exploration permit.
· In accordance with the 2019 Mining Code of the Republic of Mali, the
84.11 sq km Sanankoro II gold exploration permit was awarded to Cora Resources
Mali SARL on 02 March 2021 (Arrêté no. 2021-0590-MMEE/SG). Cora Resources
Mali SARL is registered in the Republic of Mali. The duration of the permit is
3 years, renewable twice at the holder's request, the duration of each renewal
period is extended to 3 years - as such the full-term expiry date of the
Sanankoro gold exploration permit is 02 March 2030. Cora Resources Mali SARL
is a wholly owned subsidiary of Sankarani Ressources SARL which in turn is a
95% subsidiary of Cora Gold Limited. Sankarani Ressources SARL is registered
in the Republic of Mali. Cora Gold Limited is registered in the British Virgin
Islands. The residual 5% interest in Sankarani Ressources SARL may be acquired
from a third party for the sum of US$1 million. In addition, the Sanankoro II
permit is subject to a third party 1% Net Smelter Return ('NSR') royalty. All
fees due to the government in respect of the Sanankoro II gold exploration
permit have been paid and the permit is in good standing.
· A gold exploration permit over the same area as that covered by the
Sanankoro II gold exploration permit was previously held by Sankarani
Ressources SARL. This permit expired on 01 February 2020, having been
initially awarded on 01 February 2013
Exploration done by other parties · Acknowledgment and appraisal of exploration by other parties. · Exploration activities on the original Sanankora permit by previous
workers have included geological mapping, rock chip sampling, termite
sampling, trench sampling geophysical surveys and surface drilling - auger,
RAB, air core, reverse circulation and diamond core.
· There were two previous companies who conducted work at Sanankoro i.e.
Randgold between 2004 to 2008 and Goldfields between 2008 until 2012.
· 2004-2008 RANDGOLD conducted successive programs of soils and termites
geochemical sampling on iterative 500 m, 200 m and 100 m grids. Broad blocks
of Gradient Array IP (GAIP) were completed to assist drill targeting on the
broad regional-scale surface anomalies. They drilled broad spaced 400 m x 100m
auger and RAB fences in search for bedrock targets.
· 2008-2012 GOLDFIELDS conducted infill soils and termite sampling down
to 100 m x 25 m resolution. They conducted large blocks of regional Gradient
Array IP (GAIP) and three main phases of drilling ranging from 400 m x 100 m
RAB with follow-up air core down to
50 m x 25 m RC and RC with diamond core tails, dependent upon results
discovered.
· CORA GOLD acquired the Sanankoro Permit in April 2017 and started
exploration termite sampling in May 2017. Chris Barrett SRK UK - Principal
Exploration Geologist visited Sanankoro March 27th to 30(th), 2017 to bless
the deal. SRK UK, however, never returned to site to do any CP due diligence
for the 2019 MRE, due to security concerns.
Geology · Deposit type, geological setting and style of mineralisation. · Sanankoro is located on the leading western edge of the
Yanfolila-Kalana Volcanic Belt, which is the western-most expression of the
cratonic Baoulé-Mossi domain, on the major transcrustal margin with the
Siguiri Basin. There is major deep-seated architecture across the district
which links the major gold mines at Siguiri, Lero, Tri-K, Kalana and
Yanfolila.
· On a project scale, Sanankoro is characterised by the 2 km wide
Sanankoro Shear Zone, which can be traced over 30 km from Kabaya South in the
western Yanfolila Mine to north of the Niger River beyond Selin and onto
Karan. Within the project area, each of the prospects are underpinned by a
strong linear parallel, and where strong mineralisation is developed, a
pronounced localised NE-SW focused zone of en-echelon veining and associated
sulphide development.
· There are five main areas which currently define the Sanankoro Gold
project, which in order of significance are Selin, Zone A, Zone B, Zone B
North and Zone C.
· Selin is hosted on the eastern margin of the Sanankoro Shear Zone in
the north-eastern corner of the Sanankoro permit. The Selin deposit has a
typical interference node control but with the additional positive impact of a
strong, rheological diorite intrusive host. The gold geology at Selin is
anchored along this linear, en-echelon or possibly folded, diorite igneous
intrusive which cores the volcaniclastic thrust assemblage and focuses the
gold deposition. Recent core drilling into Selin has enlightened the genetic
model for this resource deposit by discovering 4-6 multiple early/pre-D3 dykes
of diorite intruding the 65-80°W dipping axial trace of a western
hanging-wall F3 anti-form on this major reactivated D2 east-verging thrust.
The >100 m wide Selin Shear Zone may be a regional back-thrust and the
dominant eastern margin of the regional west-verging Sanankoro Thrust. The
largest diorite unit is demonstrably discordant and sits immediately west and
adjacent to a major early ductile, 10-30 m wide footwall carbonaceous shear.
Progressive deformation has folded, warped and possibly cross-faulted the
diorite units prior to gold deposition. The early footwall shear fabrics are
overprinted by later semi-brittle to brittle graphitic faults which locally
convert all protolith to graphitic schist on sub-metre scale. The diorite
units exhibit multi-phase veining interference and sulphide development. The
dominant sulphide is pyrite with occasional arsenopyrite and a scattering of
chalcopyrite. Alteration minerals are predominantly sericite, silica,
fuchsite, ankerite, graphite and calcite.
· Zone A shores up the southern limit of the 11.5 km mineralised
corridor, which forms the backbone to the Sanankoro Project. Zone A is the
southern-most expression of the 010° trending central axis of the Sanankoro
Shear Zone, which sits 900 m west of the Selin Boundary Shear and hosts the
5.8 km chain of open pit resources from Zone A through Zone B1, B2, B3 to
Target 3. The deposits of this central trend verge westward mimicking the
regional sense of thrusting.
· Zone B is the strike extension of Zone A, located 800 m to the north.
The Sanankoro Main Trend runs for 6 km from south end of Zone A to the north
end of Target 3. Detailed sectional drilling is required along the length of
this major generative gold system. The local structural facing and
stratigraphy of Zone B is very similar to Zone A with the western footwall
sequences hosting more crystalline volcanic tuffaceous units and the eastern,
hanging wall assemblages being more basinal sediments. Zone B hosts an
impressive scale of hydrothermal activity and the broad horizontal widths of
mineralisation observed in the recent drilling bodes well for future discovery
potential along the central and southern sections of the Sanankoro Main Shear
Zone (SMSZ).
· Zone C is located 650 m southwest of Zone A on the parallel, >7 km
long Sanankoro West Shear Zone (SWSZ) which can be traced along a chain of
surface workings to the Excavator Prospect, 1.5 km NNW of Target 3. The SWSZ
is high in the priority list for drilling in the 2022 programme and a number
of SWSZ targets, beyond Zone C, will be tested for surface potential.
· Zones A, B and C deposits are identical in style and typical of Siguiri
Basin Deposits, fold-thrust controlled within pelitic and psammitic sediments
and very deeply weathered (>120 m from surface). There is a highly evolved
weathering profile with a pronounced 8-10 m thick duricrust-laterite
ferro-cap, grading downward into a well-developed mottled zone to 20-25 m
depth and remains highly weathered until beyond 140 m vertically within the
central mineralised fault zone. Zone B1 has extremely deep weathering with
shallow oxide densities measured to depths of 190 m down-dip within the ore
zone trough.
· All of the host oxide lithologies are weathered to kaolin with only
highly corroded quartz vein material remaining in-situ to mark the main gold
faults. Diamond core shows the host lithologies to be predominantly variably
grained basinal pelites and sandstones with minor horizons of small quartz
clast, matrix-supported greywacke inter-bedded within the sequence. A minor
intercept of diorite has been identified but does not form an important
control to the mineralisation currently drill tested at Zone A or C. The
primary sulphide is pyrite disseminated around central vein networks and
enveloped by a broader hydrothermal halo of silica flooding, sericite and
ankerite.
Drill hole Information · A summary of all information material to the understanding of the · Significant intercepts that form the basis of the MRE have been
exploration results including a tabulation of the following information for released to the AIM in previous announcements (available on the Cora Gold
all Material drill holes: website) with appropriate tables incorporating Hole ID, Easting, Northing,
From, Depth and Intercept Assay Data. Appropriate maps and plans accompany
o easting and northing of the drill hole collar this MRE.
o elevation or RL (Reduced Level - elevation above sea level in metres) of the · Previous drilling completed by Cora Gold, Goldfields and Randgold is
drill hole collar documented herein and in the publicly available reports "A Mineral Resource
Estimate on the Sanankoro Gold Project, Mali" and "A Report for the Mining
o dip and azimuth of the hole Scoping Study on the Sanankoro Gold Project, Mali" both prepared by SRK
Consultants UK and dated December 2019.
o down hole length and interception depth
· A complete listing of all drillhole details is not necessary for this
o hole length. report which describes the Sanankoro Gold Project Resources and in the
Competent Person's opinion the exclusion of this data does not detract from
· If the exclusion of this information is justified on the basis that the the understanding of this report.
information is not Material and this exclusion does not detract from the
understanding of the report, the Competent Person should clearly explain why · The 2021 programme twinned important historical Goldfields and early
this is the case. Cora Gold, smaller diameter, air core and RC intercepts. Historical Energold
DD NQ core holes exhibited sections of unacceptably poor recoveries,
especially in the deeply oxidised deposits of Zone A and Zone B1, which were
twinned using the deep RC rig.
Data aggregation methods · In reporting Exploration Results, weighting averaging techniques, · All RC intersections are sampled and assayed on 1 m intervals but could
maximum and/or minimum grade truncations (eg cutting of high grades) and be composited up to 4 m in areas interpreted to be barren.
cut-off grades are usually Material and should be stated.
· DD core sampling can be 0.5-1.5 m in length depending on geological
· Where aggregate intercepts incorporate short lengths of high grade contacts.
results and longer lengths of low grade results, the procedure used for such
aggregation should be stated and some typical examples of such aggregations · Significant intercepts have previously been reported using a cut-off
should be shown in detail. grade of 0.5 g/t, without top cuts.
· The assumptions used for any reporting of metal equivalent values · Mineralised intervals are reported with a maximum of 3 m of consecutive
should be clearly stated. internal dilution of less than 0.5g/t Au. Mineralised intervals are reported
on a length-weighted average basis.
· No metal equivalents are reported.
Relationship between mineralisation widths and intercept lengths · These relationships are particularly important in the reporting of · The orientation of the mineralised zone has been established and the
Exploration Results. majority of the drilling was planned to intersect the mineralised structures
orthogonally or as close as practicable.
· If the geometry of the mineralisation with respect to the drill hole
angle is known, its nature should be reported. · Existing artisanal workings, buildings, sacred sites and drainage
sometimes created obstacles which prevented perfect intersection and some
· If it is not known and only the down hole lengths are reported, there holes were required to be drilled at less-than-ideal orientations.
should be a clear statement to this effect (eg 'down hole length, true width
not known'). · For the bulk of drillholes, site preparations were carried out and
50 m x 25 m drill spacing applied and acceptable intersection orientations
were achieved.
Diagrams · Appropriate maps and sections (with scales) and tabulations of · The appropriate plans and sections are included in this document.
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 · All grades, high and low, are reported accurately with "from" and "to"
practicable, representative reporting of both low and high grades and/or depths and "hole identification" shown.
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 · Detailed metallurgical test work has been carried out as part of a
including (but not limited to): geological observations; geophysical survey previous scoping study. Test work shows that the ore is amenable to
results; geochemical survey results; bulk samples - size and method of conventional crushing, grinding, gravity and CIL processing. Oxide recoveries
treatment; metallurgical test results; bulk density, groundwater, geotechnical have been determined to be >95%. A updated metallurgical variability test
and rock characteristics; potential deleterious or contaminating substances. work programme is on-going at ALS Perth.
· 1.068 detailed dry bulk density determinations were conducted on all
2021 drilled core.
· 589 detailed UCS point load determinations were conducted on all
drilled fresh core.
· Detailed geotechnical logging and analysis was conducted on all drill
core.
· Detailed regional exploration programs continue to generate new drill
targets which will feed into potential Mineral Resource growth.
Further work · The nature and scale of planned further work (eg tests for lateral · Detailed ESIA studies commenced in Q2 2020 and stake holder engagement
extensions or depth extensions or large-scale step-out drilling). meetings conducted through out the period to date.
· Diagrams clearly highlighting the areas of possible extensions, · A programme of detailed hydrology and civils geotechnical drilling is
including the main geological interpretations and future drilling areas, planned for water management, TSF and plant sites.
provided this information is not commercially sensitive.
· Detailed variability metallurgical test work is planned at ALS Perth to
support a feasibility study.
· Detailed open pit and civils geotechnical studies are planned to
support a feasibility study.
· Detailed hydrology studies are planned to support a feasibility study.
· Additional Mineral Resource, Ore Reserve and grade control pattern
drilling is planned to update Ore Reserve designs prior to commencement of
mining.
Section 3 Estimation and Reporting of Mineral Resources
(Criteria listed in section 1, and where relevant in section 2, also apply to
this section.)
Criteria JORC Code explanation Commentary
Database integrity · Measures taken to ensure that data has not been corrupted by, for · Cora Gold (CG) have a dedicated, 30 year experienced Data Manager
example, transcription or keying errors, between its initial collection and consultant Mr. Tim Kelemen who devised and built the central Datashed™
its use for Mineral Resource estimation purposes. database with standardised data collection templates, lookup tables and
validation routines for all exploration logging, spatial and sampling data.
· Data validation procedures used.
· Data collection is updated nightly by the Senior Project Geologist and
e-mailed as a quicklog to Tim in Brisbane for upload, validation and
reporting. The quicklog Excel file contains DRILL ACTUAL VS PLAN, COLLAR, DTH
SURVEY, SAMPLING, GEOLOGY, VG LOGGING, WATER TABLE, INTERCEPTS and LAB
SUBMISSION sheets.
· Sample numbers are unique and pre-numbered bags are used.
· CG project geologists validate assays returned back to the drill logged
geology in chips and core, previous section intercepts and on-going 3D
interpretation within MICROMINE™.
· The MRE data was further validated on import into MICROMINE™ mining
software.
· CG employed routine 20% QAQC throughout all of the 2021 assaying
stream, involving 1 standard, 1 blank, 2 duplicates and 1 triplicate which
were inserted for every 25 samples submitted (5:25)
· Detailed re-splits of important positive and negative intercepts were
taken as directed by the Head of Exploration, re-assayed at various labs and
cross-checked against original assays as selective QAQC.
· A full record of access and database keystrokes is maintained within
Datashed.
· Tim Kelemen is the sole person with access to the Master DATASHED™
database, which consequently is held remotely in Brisbane and backed-up to the
cloud nightly.
Site visits · Comment on any site visits undertaken by the Competent Person and the · The Competent Person (CP) for the MRE, Mr. Anton Geldenhuys, visited
outcome of those visits. the Sanankoro Project in October 2021. The visit included inspection of
geology offices, RC Chip Library, DD Core Shed and Library, geotech rock lab
· If no site visits have been undertaken indicate why this is the case. and viewing sample/pulp stores, central bag farm, sampling sheds, drill sites,
artisanal workings and local surface geology.
· DD coring was on-going at Zone A and Zone B at the time of visit and
the CP observed geological/geotechnical logging and density determinations. A
number of RC chip trays and diamond core holes were reviewed which form part
of this MRE.
Geological interpretation · Confidence in (or conversely, the uncertainty of) the geological · The diorite intrusive at Selin plays a significant role in controlling
interpretation of the mineral deposit. the distribution and tenor of the mineralisation and consequently has been
modelled as solid units within the enveloping gold mineralisation wireframe.
· Nature of the data used and of any assumptions made. The diorite intrusion precedes the gold mineralisation event and dips 70-85(o)
to the west
· The effect, if any, of alternative interpretations on Mineral Resource
estimation. · The main host protolith at Zone A, Zone B, Zone C, Target 3 and
surrounding the diorite at Selin are predominantly pelitic sediments and
· The use of geology in guiding and controlling Mineral Resource graphitic shears which similarly dip at moderate to high angles to the east
estimation.
· Overprinting the strong linear N-S lithological architecture is a flat
· The factors affecting continuity both of grade and geology. weathering stratigraphy which is characterised from surface with an iron
indurated cap of laterite +/- duricrust down to 12-17 m, with an underlying
mottled zone of soft plastic clay and highly kaolinized laterite for a further
6-12 m. Below the mottled zone is the saprolite, a highly weathered
discernible rock which is present, but down to highly variable depths, across
the deposits, reaching depths of >170 m at Zone B. The saprolite can be
observed to freshen into transition material relatively rapidly but extends to
depths normally between
170 m and 200 m at Zone A and Zone B, in the highlands, before becoming true
fresh rock.
· At Selin, the weathering profile is suppressed, probably by the massive
siliceous nature of the diorite, with the transition material occurring from
60 m in certain highly siliceous, veined mineralisation locations. The
transition diorite mineralisation tends to maintain good CN recoveries.
· Zone A and Zone B exhibit a very pronounced deep trough weathering
profile whereas Zone C, Target 3 and Selin seem to host less pronounced
weathering probably because of host rock types and topographically low relief
positions.
· Mineralisation was modelled using a 0.2 g/t Au threshold value for all
areas. The threshold is deemed to be an indicator of mineralised material.
· Higher grade zones were investigated, but these proved to not be
sufficiently continuous for modelling and estimation purposes.
· The mineralisation model was guided by local dip and strike trends.
Dimensions · The extent and variability of the Mineral Resource expressed as length · The Selin mineralisation model is 2.8 km in length along strike, a
(along strike or otherwise), plan width, and depth below surface to the upper maximum of 270 m in depth, and is anything from a few to 50 m wide. Selin has
and lower limits of the Mineral Resource. a maximum base of oxidation of 80m and is reported to a maximum depth of 180 m
below surface.
· The Zone A mineralisation model is 1.2 km in length along strike, a
maximum of 245 m in depth, and is anything from a few to 50 m wide Zone A has
a maximum base of oxidation of 140m and is reported to a maximum depth of 140
m below surface.
· The Zone B mineralisation model is 1.7 km in length along strike, a
maximum of 215 m in depth, and is anything from a few to 50 m wide. Zone B has
a maximum base of oxidation of 207m and is reported to a maximum depth of 150
m below surface.
· The Zone C mineralisation model is 750 m in length along strike, a
maximum of 160 m in depth, and is anything from a few to 50 m wide. Zone C has
a maximum base of oxidation of 60m and is reported to a maximum depth of 110 m
below surface.
· The Zone B North mineralisation model is 1 km in length along strike, a
maximum of 130 m in depth, and is anything from a few to 50 m wide. Zone B
North has a maximum base of oxidation of 80m and is reported to a maximum
depth of 120 m below surface.
Estimation and modelling techniques · The nature and appropriateness of the estimation technique(s) applied · Samples were composited to 2 m for all MRE processes.
and key assumptions, including treatment of extreme grade values, domaining,
interpolation parameters and maximum distance of extrapolation from data · Experimental semi-variograms were calculated for Au from composites in
points. If a computer assisted estimation method was chosen include a Zones A and B combined, and Selin. Zones B North and C were deemed to contain
description of computer software and parameters used. too few data for variography.
· The availability of check estimates, previous estimates and/or mine · The modelled semi-variogram for Zone A + B combined was applied to
production records and whether the Mineral Resource estimate takes appropriate Zones A, B, B North and C for grade estimation. The modelled semi-variogram
account of such data. for Selin was only used to estimate grade at Selin.
· The assumptions made regarding recovery of by-products. · Estimation was carried out within the modelled 0.2 g/t Au mineralised
volumes using ordinary kriging on 2 m composites for Au. The entire volume was
· Estimation of deleterious elements or other non-grade variables of estimated such that estimates were extrapolated no more than 100 m away from
economic significance (eg sulphur for acid mine drainage characterisation). data. This was often downdip, however reporting pit shells ensure that deep
extrapolated grades were not included in the Mineral Resource.
· In the case of block model interpolation, the block size in relation to
the average sample spacing and the search employed. · Mineralisation boundaries were treated as hard contacts for estimation.
· Any assumptions behind modelling of selective mining units. · Ordinary kriging was optimised based on the kriging neighbourhood which
ensured minimal negative kriging weights and representative local estimates.
· Any assumptions about correlation between variables.
· Seequent Leapfrog Geo was used to model the mineralisation and Datamine
· Description of how the geological interpretation was used to control RM was used to estimate grade and tabulate the Mineral Resource tonnages,
the resource estimates. grade and content.
· Discussion of basis for using or not using grade cutting or capping. · An Inverse distance weighting estimate was carried out as a check of
the ordinary kriged estimates. These correlate well and the ordinary kriged
· The process of validation, the checking process used, the comparison of estimate is deemed to be an acceptable representation of the insitu Au grade.
model data to drill hole data, and use of reconciliation data if available.
· No by-products or deleterious elements were considered in the MRE.
· The parent cell size is 5x20x20 m (XYZ). Collars were drilled at
50x50 m or 50x25 m spacing. The block is deemed to be appropriate relative to
the data configuration.
· Search distance was roughly aligned to the variogram range (44 m) for
all zones.
· SMUs were not considered in the estimation.
· Composite Au grades were capped for estimation according to area, based
on statistics and outliers. Selin composites were capped to
34 g/t Au, Zone A composites were capped to 20 g/t Au, Zone B composites were
capped to 21 g/t Au, Zone B North composites were capped to 8.5 g/t Au and
Zone C composites were capped to 6 g/t Au.
· Au grade estimates were validated by means of global statistics, swath
plots and visual sectional checks of grade in the model vs grade of the
composites.
Moisture · Whether the tonnages are estimated on a dry basis or with natural · The tonnages in the estimate are for dry tonnage with no factoring for
moisture, and the method of determination of the moisture content. moisture.
Cut-off parameters · The basis of the adopted cut-off grade(s) or quality parameters · The Mineral Resource is reported at a cut-off grade of 0.4 g/t Au,
applied. which is what was previously used to report the 2019 Mineral Resource.
· The cut-off grade is in line with other similar reported styles of gold
mineralisation.
Mining factors or assumptions · Assumptions made regarding possible mining methods, minimum mining · The Mineral Resource is deemed to be amenable to open pit extraction.
dimensions and internal (or, if applicable, external) mining dilution. It is
always necessary as part of the process of determining reasonable prospects · Reasonable prospects for eventual economic extraction was determined
for eventual economic extraction to consider potential mining methods, but the using conceptual mining parameters and a long-term gold price of US$1800/oz.
assumptions made regarding mining methods and parameters when estimating
Mineral Resources may not always be rigorous. Where this is the case, this · The parameters and long-term gold price were used in Whittle to
should be reported with an explanation of the basis of the mining assumptions determine a LOM pit shell for reporting the Mineral Resource.
made.
Metallurgical factors or assumptions · The basis for assumptions or predictions regarding metallurgical · Metallurgical test work conducted upon Selin, Zones A & B gold ore
amenability. It is always necessary as part of the process of determining composites - ALS Perth Report No. A21106, March 2021
reasonable prospects for eventual economic extraction to consider potential
metallurgical methods, but the assumptions regarding metallurgical treatment · Results indicated +95% recoveries from grinding P80 passing 75-micron,
processes and parameters made when reporting Mineral Resources may not always gravity and direct CIL.
be rigorous. Where this is the case, this should be reported with an
explanation of the basis of the metallurgical assumptions made. · As significant programme of metallurgical variability test work is
on-going at ALS Perth and will be incorporated into the forthcoming DFS study.
Environmental factors or assumptions · Assumptions made regarding possible waste and process residue disposal · Metallurgical Test work conducted upon Selin, Zones A & B Gold Ore
options. It is always necessary as part of the process of determining Composites - ALS Perth Report No. A21106, March 2021
reasonable prospects for eventual economic extraction to consider the
potential environmental impacts of the mining and processing operation. While · The Acid Mine Drainage prediction analysis for all four composite samples
at this stage the determination of potential environmental impacts, indicated that none would be net acid-producers.
particularly for a greenfields project, may not always be well advanced, the
status of early consideration of these potential environmental impacts should · As significant programme of AMS test work is on-going at ALS Perth and
be reported. Where these aspects have not been considered this should be will be incorporated into the forthcoming DFS study.
reported with an explanation of the environmental assumptions made.
· A full DFS-level ESIA study commenced in June 2020 by Digby Wells and
will be incorporated into the forthcoming DFS study.
Bulk density · Whether assumed or determined. If assumed, the basis for the · Dry bulk density determinations were made using the water displacement
assumptions. If determined, the method used, whether wet or dry, the frequency method 6 as outlined in AusIMM Monograph 30 - Measurement of Bulk Density for
of the measurements, the nature, size and representativeness of the samples. Resource Estimation (Lipton & Horton)
· The bulk density for bulk material must have been measured by methods · Dried for 24 hours at 110(o)C, waxed and weighed using LTB 6002e 0.1 g
that adequately account for void spaces (vugs, porosity, etc), moisture and electronic balance.
differences between rock and alteration zones within the deposit.
· A total of 1,068 dry bulk density determinations were made on full PQ
· Discuss assumptions for bulk density estimates used in the evaluation and HQ core samples.
process of the different materials.
· Bulk density was analysed according to weathering domain by removing
outlier values and determining mean values from representative data.
· Mean values were applied to the weathering domains as follows:
duricrust cap 2.23 t/m(3); mottled zone 1.95 t/m(3); oxide 1.86 t/m(3);
transition 2.58 t/m(3) and fresh 2.74 t/m(3).
Classification · The basis for the classification of the Mineral Resources into varying · The Mineral Resource was classified into Indicated and Inferred
confidence categories. categories as defined by The Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves ('the JORC Code').
· Whether appropriate account has been taken of all relevant factors
(i.e. relative confidence in tonnage/grade estimations, reliability of input · Mineral Resource classification considered the quality and quantity of
data, confidence in continuity of geology and metal values, quality, quantity available data, geological continuity, grade continuity and confidence in the
and distribution of the data). grade estimates.
· Whether the result appropriately reflects the Competent Person's view · Indicated Mineral Resources were classified from data that was deemed
of the deposit. acceptable for Mineral Resource estimation and reporting, and where data were
sufficient to model mineralisation and estimate grade with a reasonable level
of confidence for Indicated Mineral Resources. Data was generally spaced at
35x35 m in Zones A, B, B North and C, and at 40x40 at Selin. The
mineralisation at Selin is deemed to be more continuous, hence the wider
spacing allowed for Indicated. Indicated Mineral Resources have slope of
regression values ≥0.75, demonstrating an acceptable level of confidence in
the estimate.
· Inferred Mineral Resources were classified beyond the 35x35 m (Zones A,
B, B North and C) and 40x40 m (Selin) data spacing.
· Mineral Resources were constrained by the reasonable prospects for
eventual economic extraction pits, below which any mineralisation was not
classified and therefore not reported.
Audits or reviews · The results of any audits or reviews of Mineral Resource estimates. · No Mineral Resource audit or review by the CP Mineral Resources,
however a site visit was carried out to review the data acquisition and
processing practices.
Discussion of relative accuracy/ confidence · Where appropriate a statement of the relative accuracy and confidence · The level of accuracy in the Mineral Resource is represented by the
level in the Mineral Resource estimate using an approach or procedure deemed classification categories assigned to block model.
appropriate by the Competent Person. For example, the application of
statistical or geostatistical procedures to quantify the relative accuracy of · Indicated Mineral Resources can be considered as reasonable local
the resource within stated confidence limits, or, if such an approach is not estimates.
deemed appropriate, a qualitative discussion of the factors that could affect
the relative accuracy and confidence of the estimate. · Inferred Mineral Resources are deemed to be global in nature.
· The statement should specify whether it relates to global or local · No commercial production has taken place and therefore no production
estimates, and, if local, state the relevant tonnages, which should be data is available for Mineral Resource reconciliation.
relevant to technical and economic evaluation. Documentation should include
assumptions made and the procedures used.
· These statements of relative accuracy and confidence of the estimate
should be compared with production data, where available.
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