REG - Future Metals NL - Step Change in PGM Recovery - Improved to 86%
11/07/2023 07:15
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RNS Number : 5611F Future Metals NL 11 July 2023
11 July 2023
Future Metals NL
Step Change in PGM Recovery - Improved to 86%
Highlights
§ Expected PGM(3E)(1) metallurgical recoveries improved from 78% to 86%
through successful tailings leaching test work
§ Improved robustness of entire flowsheet by minimising metal loss through
flotation
§ Flotation reagent optimisation test work reduces reagent consumption
whilst maintaining PGM(3E) recoveries with a concentrate grade of >280g/t
PGM(3E)(1)
§ Recoveries and concentrate grades in line and exceed analogous South
African PGM operations
§ Chromite concentrate from flotation tails represents a potentially
high-value by-product with prices increasing by 50% over the past 12 months
§ Flowsheet improvements to be incorporated into the Scoping Study targeted
for completion in Q4 2023
Future Metals NL ("Future Metals" or the "Company", ASX | AIM: FME), is
pleased to announce enhanced metallurgical recoveries from the leaching of
flotation tailings, reagent optimisation test work and the chromite
concentrate potential for its wholly owned Panton Project ("Panton" or the
"Project").
The results de-risk the process flowsheet for Panton and improve the project
economics. The Company is in the process of finalising a Scoping Study on the
Project's 6.9Moz PdEq JORC Resource to demonstrate a credible path towards
developing a low capital, high grade PGM-Ni operation.
Mr Jardee Kininmonth, Managing Director of Future Metals, commented:
"We have achieved another metallurgical breakthrough for the Panton project,
potentially creating a step-change in PGM recoveries, de-risking the flowsheet
and improving project economics through leaching of flotation tails.
"We can now expect to recover approximately 86% of PGM metals from Panton ore
feed and importantly over 93% of palladium. Combined with our ability to
consistently achieve >280g/t PGM(3E)(1) concentrate grades, Panton compares
very favourably to analogous South African PGM operations.
"We're also enthused by the potential to create a significant quantity of
chromite concentrate from our tailings. This is another critical mineral,
irreplaceable in the steel-making process, and with very limited supply from
Western jurisdictions."
(1) PGM(3E) = Palladium (Pd) + Platinum (Pt) + Gold (Au)
Processing and Project Delivery Strategy
Further to the announcement 'Mining and Processing Breakthrough at Panton' on
13 February 2023, the Company has continued to methodically de-risk the
development of Panton and enhance project economics through ongoing
metallurgical test work and optimisation.
These de-risking factors include:
§ Ore sorting test work demonstrating the ability to separate high-grade
PGM reef with a 97% recovery from the surrounding low grade bulk
mineralisation and waste. This enables the use of more conventional mining
methods to extract the high-grade ore and ensure a high-grade feed for the
mill, thereby reducing capital and operating costs.
§ Flotation test work demonstrating the ability to consistently achieve
flotation PGM(3E)(1) recoveries averaging 78% at a very high average
concentrate grade of >280g/t PGM(3E)(1) utilising conventional crushing,
grinding and flotation techniques on high-grade PGM reef ore.
§ Leaching test work on flotation tails improving overall PGM(3E)(1)
recoveries to 93.1% Pd, 76.8% Pt and 94.2% Au (~86% PGM(3E)(1)), requiring no
additional grinding, at atmospheric pressure and ambient temperature.
§ Test work demonstrating the ability to produce a saleable chromite
concentrate from flotation tailings using magnetic separation.
Future Metals is incorporating this series of improvements into a Scoping
Study to demonstrate the viability of the Panton project as a low capital,
high-grade and high recovery operation producing PGMs, nickel and chromite
concentrate.
The Scoping Study is evaluating multiple pathways for progressing Panton,
assessing both concentrate production for sale into the smelting market, and
downstream integration to produce high payability, low emission upgraded metal
products for direct sale to end users.
Improved PGM Recoveries Through Leaching of Flotation Tails
Future Metals has successfully demonstrated that cyanide leaching at ambient
temperature and atmospheric pressure can achieve recoveries of 83.5% Pd and
92% Au as shown in Table 1.
The positive leaching results not only potentially improve project economics,
but also substantially de-risk the flowsheet by providing an additional method
of metal recovery following flotation, thereby providing protection from any
periods of fluctuating flotation performance.
Table 1: Flotation Tailings Leaching Recoveries
Pt Pd Au
(g/t) (g/t) (g/t)
Head Grade 0.94 1.25 0.16
Recovery (%) 0.3 83.5 91.6
A standard cyanide bottle roll test was performed on the tailings from prior
flotation test work on high-grade chromitite reef samples. This sample's grind
size was P(80) of 30µm.
These results are supported by historical test work which showed high
recoveries of Pd and Au while testing multiple variables including grind size,
temperature and reagent concentration. This test work also demonstrated the
ability to produce a very high grade PGM product suitable for direct sale to
refineries via a pilot scale leach circuit.
The Company is now commencing investigations to enhance the economics of
tailings leaching through targeting increased Pt recoveries.
Applying previously announced concentrate flotation recoveries in combination
with this successful flotation tailings leaching test work provides an overall
net recovery of 86% PGM(3E)(1) as show in Table 2.
Table 2: Panton Net Recovery
Pt Pd Au Pt, Pd & Au
Head grade(1) g/t 4.35 5.20 0.44 9.99
Ore sorting mass recovery(2) % 87.3 87.3 87.3 87.3
Ore sorting metal recovery(2) % 96.7 96.7 96.7 96.7
Head grade post ore sorting g/t 4.82 5.76 0.49 11.07
Flotation recovery(3) % 79.4 77.2 69.3 77.8
Flotation recovered grade g/t 3.83 4.45 0.34 8.61
Tails grade g/t 0.99 1.31 0.15 2.46
Tails recovery(4) % 0.26 83.5 91.6 50.3
Tails recovered grade g/t 0.00 1.10 0.14 1.24
Net recovery % 76.8 93.1 94.2 86.0
1: As set out under Table 2: Optimisation and Variability Flotation Test
Programme - Concentrate Grades, Future Metals' Announcement 'Mining and
Processing Breakthrough' on 13 February 2023
2: As set out under Table 1: Bulk Ore Sorting Test Results, Future Metals'
Announcement 'Mining and Processing Breakthrough' on 13 February 2023
3: As set out under Table 2: Bulk Ore Sorting Test Results, Future Metals'
Announcement 'Mining and Processing Breakthrough' on 13 February 2023
4: Refer to Table 1 of this announcement
Figure 1: High-Level Flowsheet
Flotation Reagent Optimisation
The Company has continued to optimise its flotation test work subsequent to
demonstrating the ability to consistently achieve a high-grade concentrate at
high recoveries. As part of this ongoing work, the Company has successfully
demonstrated the ability to achieve strong results with 79.4% PGM(3E)(1)
recovery at a concentrate grade of 309g/t PGM(3E)(1) without the need for
nitrogen sparging, thereby reducing the capital and operating costs and
simplifying the flowsheet. A summary of the results from this reagent
optimisation test work is provided below:
Table 3: Summary of Reagent Optimisation Results
Test Concentrate Grade Head Grade
No.
Mass Pull Pt Pd Au PGM(3E)(1) Pt Pd Au PGM(3E)(1)
% g/t Rec g/t Rec g/t Rec g/t Rec g/t
FT022 2.64 140 82.4 155 77.5 14.1 73.3 309 79.4 4.47 5.29 0.51 10.3
Chromite Concentrate as a Valuable By-Product
As previously reported, test work has demonstrated the ability to produce a
saleable chromite concentrate from flotation tailings through a magnetic
separation circuit. Chromite concentrate is a high-value bulk product
primarily used for the production of ferrochrome, a non-substitutable input
into the production of stainless steel. The major suppliers of chromite
concentrate include South Africa, Turkey, Zimbabwe and Albania. Given its
importance to the steel industry and the limited deposits in Western
jurisdictions, it is listed as a critical mineral in the United States,
Australia, Japan and India.
The Company has commenced further optimisation test work and will assess the
inclusion of a chromite concentrate circuit as part of the Project's flowsheet
in the Scoping Study. Chromite concentrate has the potential to be a valuable
by-product and reduce tailings at site.
Figure 2: South African Chromite Concentrate Price Chart - January 2018 to
April 2023
Source: Mining Bulletin
Figure 3: Global Chromite Concentrate Market - Geographic Production
Distribution, 2022
Source: International Chromium Development Association
Corporate
The Company advises, in accordance with the terms of the Company's Performance
Rights Plan, that 800,000 Performance Rights have now vested to Jardee
Kininmonth having achieved 12 months continuous service with the Company.
Please refer to ASX announcement dated 31 January 2022 for further details of
these Performance Rights.
For further information, please contact:
Enquiries:
Future Metals NL +61 8 9480 0414
Jardee Kininmonth info@future-metals.com.au (mailto:info@future-metals.com.au)
Strand Hanson Limited (Nominated Adviser) +44 (0) 207 409 3494
James Harris/James Bellman
Panmure Gordon (UK) Limited (UK Broker) +44 (0)207 886 2500
John Prior/Hugh Rich/Rauf Munir
FlowComms (UK IR/PR) +44 (0) 789 167 7441
Sasha Sethi
The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of United Kingdom domestic law pursuant to
the European Union (Withdrawal) Act 2018, as amended by virtue of the Market
Abuse (Amendment) (EU Exit) Regulations 2019.
Competent Person's Statement
The information in this announcement that relates to metallurgical test work
managed by Independent Metallurgical Operations Pty Ltd ("IMO") is based on,
and fairly represents, information and supporting documentation reviewed by Mr
Peter Adamini, BSc (Mineral Science and Chemistry), who is a Member of The
Australasian Institute of Mining and Metallurgy (AusIMM). Mr Adamini is a
full-time employee of IMO, who has been engaged by Future Metals NL to provide
metallurgical consulting services. Mr Adamini has approved and consented to
the inclusion in this announcement of the matters based on his information in
the form and context in which it appears.
Notes to Editors:
About the Panton PGM-Ni Project
The 100% owned Panton PGM-Ni Project is located 60kms north of the town of
Halls Creek in the eastern Kimberly region of Western Australia, a tier one
mining jurisdiction. The project is located on three granted mining licences
and situated just 1km off the Great North Highway which accesses the Port of
Wyndham (refer to Figure 3).
The Project hosts an independent JORC Code (2012) MRE of 129Mt @ 1.20g/t
PGM(3E), 0.19% Ni, 0.04% Cu and 154ppm Co (1.66g/t PdEq(2)) at a cut-off grade
of 0.90g/t PdEq for contained metal of 5.0Moz PGM(3E), 239kt Ni, 48kt Cu and
20kt Co (6.9Moz PdEq). The MRE includes a high-grade reef of 25Mt @ 3.57g/t
PGM(3E)(1), 0.24% Ni, 0.07% Cu and 192ppm Co (3.86g/t PdEq) for contained
metal of 2.9Moz PGM(3E), 60kt Ni, 18kt Cu and 5kt Co (3.2Moz PdEq) (refer to
the Company's announcement of 21 June 2022 for further details).
PGM-Ni mineralisation occurs within a layered, differentiated mafic-ultramafic
intrusion referred to as the Panton intrusive which is a 12km long and 3km
wide, south-west plunging synclinal intrusion. PGM mineralisation is hosted
within a series of stratiform chromite reefs as well as a surrounding zone of
mineralised dunite within the ultramafic package.
The Company confirms that it is not aware of any new information or data that
materially affects the information included in the announcement referenced
above.
Figure 4 | Panton PGM Project Location
About Platinum Group Metals (PGMs)
PGMs are a group of six precious metals being Platinum (Pt), palladium (Pd),
iridium (Ir), osmium (Os), rhodium (Rh), and ruthenium (Ru). Exceptionally
rare, they have similar physical and chemical properties and tend to occur, in
varying proportions, together in the same geological deposit. The usefulness
of PGMs is determined by their unique and specific shared chemical and
physical properties.
PGMs have many desirable properties and as such have a wide variety of
applications. Most notably, they are used as auto-catalysts (pollution control
devices for ICE vehicles), but are also used in jewellery, electronics,
hydrogen production / purification and in hydrogen fuel cells. The unique
properties of PGMs help convert harmful exhaust pollutant emissions to
harmless compounds, improving air quality and thereby enhancing health and
wellbeing.
JORC Code (2012) Edition Table 1
Section 1 Sampling Techniques and Data
Criteria JORC Code explanation Commentary
Sampling techniques § Nature and quality of sampling (eg cut channels, random chips, or § Sampling methods used for samples used in the flotation and tailings
specific specialised industry standard measurement tools appropriate to the leaching test work in this announcement were sourced from both PQ3 Diamond
minerals under investigation, such as down hole gamma sondes, or handheld XRF drill core and Chromitite reef mineralisation mined from the underground
instruments, etc). These examples should not be taken as limiting the broad decline in 2007. PQ3 Diamond Core which was cut in half, and one half further
meaning of sampling. cut into a quarter. One quarter is sent for assay, one quarter is retained for
reference and the remaining half is used as a metallurgical test sample.
§ Include reference to measures taken to ensure sample representivity and Sample intervals were generally 1m in length but modified to honor geological
the appropriate calibration of any measurement tools or systems used. changes such as lithology contacts. Minimum sample length was 30cm.
§ Aspects of the determination of mineralisation that are Material to the § All sampling was either supervised by, or undertaken by, qualified
Public Report. In cases where 'industry standard' work has been done this geologists.
would be relatively simple (eg 'reverse circulation drilling was used to
obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for § 1/4 core samples were sent to Bureau Veritas, Canning Vale, Western
fire assay'). In other cases more explanation may be required, such as where Australia.
there is coarse gold that has inherent sampling problems. Unusual commodities
or mineralisation types (eg submarine nodules) may warrant disclosure of § To ensure representative sampling, for each hole, the same quarter of the
detailed information. original core was sent for assay, for example when looking at the core down
hole, the right-hand side was retained in the core tray as the metallurgical
sample, and the upper left-hand side of the core was always sent for assay
with the lower left hand side always retained as the reference material. At
the laboratory the entire 1/4 core sample was crushed, a 300g split was
pulverised to provide material for fire assay and ICP-MS.
§ Historical metallurgical results were from composites created by a prior
owner of the Panton project, Platinum Australia NL. The following information
in Table 1 relates solely to metallurgical samples collected by Future Metals
NL.
Drilling techniques § Drill type (eg core, reverse circulation, open-hole hammer, rotary air § All drill holes in this release were drilled PQ3 (83.0mm diameter)..
blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or
standard tube, depth of diamond tails, face-sampling bit or other type, § Core is orientated using a BLY TruCore UPIX Orientation Tool.
whether core is oriented and if so, by what method, etc.).
§ The drilling contractor was Terra Drilling. Triple tubes are utilised in
the weathered horizon (less than 10m) and standard tubes for the remainder of
the drill hole.
Drill sample recovery § Method of recording and assessing core and chip sample recoveries and § Each core run is measured and checked against the drillers core blocks.
results assessed. Any core loss is noted. To date core recoveries have been excellent with very
little core loss reported.
§ Measures taken to maximise sample recovery and ensure representative
nature of the samples. § The drilled widths of mineralisation in these drill holes are larger than
the true widths.
§ Whether a relationship exists between sample recovery and grade and
whether sample bias may have occurred due to preferential loss/gain of § No relationship between recovery and grade has been identified.
fine/coarse material.
Logging § Whether core and chip samples have been geologically and geotechnically § All drill core has been logged onsite by geologists to a level of detail
logged to a level of detail to support appropriate Mineral Resource to support appropriate Mineral Resource estimation, mining studies and
estimation, mining studies and metallurgical studies. metallurgical studies.
§ Whether logging is qualitative or quantitative in nature. Core (or § Logging is qualitative and records lithology, grain size, texture,
costean, channel, etc.) photography. weathering, structure, alteration, veining and sulphides. Core is digitally
photographed.
§ The total length and percentage of the relevant intersections logged.
§ All holes are logged in full.
Sub-sampling techniques and sample preparation § If core, whether cut or sawn and whether quarter, half or all core taken. § All core that is sampled is cut using a diamond saw. PQ3 core is cut in
half, and then one half cut again into quarters. One quarter core is sent to
§ If non-core, whether riffled, tube sampled, rotary split, etc and whether the laboratory for assay, and the remaining core is kept as a reference..
sampled wet or dry.
§ Generally, core samples are 1 metre in length, with a minimum sample
§ For all sample types, the nature, quality and appropriateness of the length of 30 centimetres. Sample lengths are altered from the usual 1 metre
sample preparation technique. due to geological contacts, particularly around the chromitite reefs.
§ Quality control procedures adopted for all sub-sampling stages to § The sample size is considered appropriate for the material being sampled.
maximise representivity of samples.
§ Measures taken to ensure that the sampling is representative of the
in-situ material collected, including for instance results for field
duplicate/second-half sampling.
§ Whether sample sizes are appropriate to the grain size of the material
being sampled.
Quality of assay data and laboratory tests § The nature, quality and appropriateness of the assaying and laboratory § For Future Metals NL drill holes ½ core samples were sent, Bureau
procedures used and whether the technique is considered partial or total. Veritas, Canning Vale, Western Australia.
§ For geophysical tools, spectrometers, handheld XRF instruments, etc, the § Future Metal NL analysis of samples had Pt, Pd and Au determined by lead
parameters used in determining the analysis including instrument make and collection fire assay with a 40 gram charge with ICP-MS finish providing a
model, reading times, calibrations factors applied and their derivation, etc. lower detection limit of 1ppb. Determination of As, Co, Cr, Cu, Ni and S was
by Inductively Coupled Plasma following a mixed acid digest. Both ICP and fire
§ Nature of quality control procedures adopted (e.g. standards, blanks, assay analytical methods are total.
duplicates, external laboratory checks) and whether acceptable levels of
accuracy (ie lack of bias) and precision have been established. § No geophysical tools were used.
§ Laboratory repeat analysis is completed on 10% of the samples submitted
for assay.
Verification of sampling and assaying § The verification of significant intersections by either independent or § Intersections are not reported in this release.
alternative company personnel.
§ No adjustments were made to the data other than converting ppm to % by
§ The use of twinned holes. dividing by 10,000.
§ Documentation of primary data, data entry procedures, data verification,
data storage (physical and electronic) protocols.
§ Discuss any adjustment to assay data.
Location of data points § Accuracy and quality of surveys used to locate drill holes (collar and § Drill hole collars are located using a hand-held GPS. Down hole surveys
down-hole surveys), trenches, mine workings and other locations used in are taken with a north seeking gyroscope at regular intervals of 30m down
Mineral Resource estimation. hole.
§ Specification of the grid system used. § Grid system used is Map Grid of Australia 1994, Zone 52.
§ Quality and adequacy of topographic control. § The topographic control is considered better than <3m and is
considered adequate.
Data spacing and distribution § Data spacing for reporting of Exploration Results. § Data spacing down hole is considered appropriate at between 0.3 and 1m
intervals.
§ Whether the data spacing and distribution is sufficient to establish the
degree of geological and grade continuity appropriate for the Mineral Resource § Samples have not been composited.
and Ore Reserve estimation procedure(s) and classifications applied.
§ Whether sample compositing has been applied.
Orientation of data in relation to geological structure § Whether the orientation of sampling achieves unbiased sampling of § The orientation of the drill hole relative to the geological target is as
possible structures and the extent to which this is known, considering the orthogonal as practicable however drilled intersections will be larger than
deposit type. true widths.
§ 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.
Sample security § The measures taken to ensure sample security. § All core sample intervals are labelled in the core boxes, recoded
digitally and captured with the core photography. Cut core samples are
collected in bags labelled with the sample number. Samples are delivered to
the Company's transport contractor in Halls Creek directly by Company
personnel. Samples are then delivered to the laboratory by the transport
contractor.
Audits or reviews § The results of any audits or reviews of sampling techniques and data. § The Company employed industry-standard protocols. No independent audit
has been conducted.
§ This announcement includes historical results generated by a prior owner
of the Panton Project, Platinum Australia NL. The Company is not able to
independently verify these results however based on historical reporting,
consultants used and parallels to the Company's own results, it believes the
results can be reported and relied upon.
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 agreements § The Panton PGM Project is located on three granted mining licenses
or material issues with third parties such as joint ventures, partnerships, M80/103, M80/104 and M80/105 ('MLs'). The MLs are held 100% by Panton Sill Pty
overriding royalties, native title interests, historical sites, wilderness or Ltd which is a 100% owned subsidiary of Future Metals NL.
national park and environmental settings.
§ The MLs were granted on 17 March 1986 and are currently valid until 16
§ The security of the tenure held at the time of reporting along with any March 2028.
known impediments to obtaining a licence to operate in the area.
§ A 0.5% net smelter return royalty is payable to Elemental Royalties
Australia Pty Ltd in respect of any future production of chrome, cobalt,
copper, gold, iridium, palladium, platinum, nickel, rhodium and ruthenium.
§ A 2.0% net smelter return royalty is payable to Maverix Metals
(Australia) Pty Ltd on any PGMs produced from the MLs.
§ There are no impediments to working in the area.
Exploration done by other parties § Acknowledgment and appraisal of exploration by other parties. § The Panton deposit was discovered by the Geological Survey of Western
Australia from surface mapping conducted in the early 1960s.
§ Pickland Mather and Co. drilled the first hole to test the
mafic-ultramafic complex in 1970, followed by Minsaco Resources which drilled
30 diamond holes between 1976 and 1987.
§ In 1989, Pancontinental Mining Limited and Degussa Exploration drilled a
further 32 drill holes and defined a non-JORC compliant resource.
§ Platinum Australia Ltd acquired the project in 2000 and conducted the
majority of the drilling, comprising 166 holes for 34,410 metres, leading to
the delineation of a maiden JORC Mineral Resource Estimate.
§ Panoramic Resources Ltd subsequently purchased the Panton PGM Project
from Platinum Australia Ltd in May 2012 and conducted a wide range of
metallurgical test work programmes on the Panton ore.
Geology § Deposit type, geological setting and style of mineralisation. § The Panton intrusive is a layered, differentiated mafic to ultramafic
body that has been intruded into the sediments of the Proterozoic Lamboo
Complex in the Kimberley Region of Western Australia. The Panton intrusion
has undergone several folding and faulting events that have resulted in a
south westerly plunging synclinal structure some 10km long and 3km wide.
§ PGM mineralisation is associated with several thin cumulate Chromitite
reefs within the ultramafic sequence. In all there are three chromite
horizons, the Upper group Chromitite (situated within the upper gabbroic
sequence), the Middle group Chromitite (situated in the upper portion of the
ultramafic cumulate sequence) and the Lower group Chromitite (situated toward
the base of the ultramafic cumulate sequence). The top reef mineralised zone
has been mapped over approximately 12km.
Drill hole Information § A summary of all information material to the understanding of the § Drillhole locations and diagrams are presented in the relevant previous
exploration results including a tabulation of the following information for ASX announcements related to the exploration results.
all Material drill holes:
o easting and northing of the drill hole collar
o elevation or RL (Reduced Level elevation above sea level in metres) of
the drill hole collar
o dip and azimuth of the hole
o down hole length and interception depth
o hole length.
§ If the exclusion of this information is justified on the basis that the
information is not Material and this exclusion does not detract from the
understanding of the report, the Competent Person should clearly explain why
this is the case.
Data aggregation methods § In reporting Exploration Results, weighting averaging techniques, maximum § No intercepts are being reported.
and/or minimum grade truncations (e.g. cutting of high grades) and cut-off
grades are usually Material and should be stated.
§ Where aggregate intercepts incorporate short lengths of high grade
results and longer lengths of low-grade results, the procedure used for such
aggregation should be stated and some typical examples of such aggregations
should be shown in detail.
§ The assumptions used for any reporting of metal equivalent values should
be clearly stated.
Relationship between mineralisation widths and intercept lengths § These relationships are particularly important in the reporting of § No exploration results are being reported.
Exploration Results.
§ Metallurgical drill holes have been deliberately orientated at a low
§ If the geometry of the mineralisation with respect to the drill hole angle to the dip of the mineralised chromitite reefs to maximise the amount of
angle is known, its nature should be reported. material recovered for metallurgical test work. The drilled thickness is
considerably greater than the true thickness in these drill holes as a result.
§ 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
not known').
Diagrams § Appropriate maps and sections (with scales) and tabulations of intercepts § Drillhole locations and diagrams are presented in the relevant previous
should be included for any significant discovery being reported These should ASX announcements related to the exploration results.
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 § No exploration results have been reported in this announcement.
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 § No exploration results are being reported in this specific announcement.
including (but not limited to): geological observations; geophysical survey
results; geochemical survey results; bulk samples size and method of § No other exploration data is relevant.
treatment; metallurgical test results; bulk density, groundwater, geotechnical
and rock characteristics; potential deleterious or contaminating substances.
Further work § The nature and scale of planned further work (eg tests for lateral § Next stage of work will consist of additional mineralogical and
extensions or depth extensions or large-scale step-out drilling). metallurgical test work.
§ Diagrams clearly highlighting the areas of possible extensions, including
the main geological interpretations and future drilling areas, provided this
information is not commercially sensitive.
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