REG - Kavango Resources - Successful Diamond Drilling at Bill’s Luck
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RNS Number : 2876Q Kavango Resources PLC 26 January 2026
PRESS RELEASE
26(th) January 2026
KAVANGO RESOURCES PLC
("Kavango" or "the Company")
Successful diamond resource drilling programme at Bill's Luck Gold Mine
Kavango Resources plc (LSE:KAV, VFEX:KAV.VX), the Southern Africa focused
metals exploration and gold production company, is pleased to announce the
full results from its diamond resource drilling programme at Bill's Luck Gold
Mine ("Bill's Luck" or the "Mine") at the Hillside Project ("Hillside"),
Zimbabwe.
The resource drilling programme at Bill's Luck was designed to establish a
maiden Mineral Resource Estimate ("MRE") to support and inform future mine
planning and scheduling while also unlocking the full value of what is
increasingly believed to be a significant mineralised system at Bill's Luck.
The programme comprised an initial wide-spaced diamond drill programme
followed by infill diamond drilling and a separate reverse circulation ("RC")
drill programme along strike to the northwest and southeast. A total of 7,714
metres ("m") were drilled, comprising 3,556m of RC drilling and 4,158m diamond
drilling. Results from the RC drill programme are expected to be released in
the coming weeks, when all results have been confirmed.
The drill programme has intersected the currently mined "Main Reef", as
expected, but has also confirmed the presence of an additional "reef"
structure adjacent to and parallel with the "Main Reef" that is also
mineralised. The drilling also tested and intersected further "reefs" in both
the hanging wall and footwall. The diamond drilling results, together with the
RC drill programme, will now be used to inform a maiden Mineral Resource
Estimate at Bill's Luck.
Gold assay results from the surface and underground diamond drilling programme
include the following highlights (not including previously announced
(https://polaris.brighterir.com/public/kavango_resources_plc/news/rns/story/x50d0pr)
holes BLDD009 and BLDD010):
· Hole BLDDUG015:
· 19.24g/t over 1.50m from 55.00m (including 64.12g/t over 0.24m and
23.13g/t over 0.50m)
· Hole BLDDUG020C:
· 41.28g/t over 1.05m from 44.25m (including 125.14g/t over 0.34m)
· Hole BLDDUG021:
· 7.68g/t over 3.29m from 63.58m (including 2.92g/t over 0.51m,
26.26g/t over 0.82m and 2.12g/t over 0.71m)
· Hole BLDDUG022:
· 3.26g/t over 3.28m from 16.00m (including 8.58g/t over 1.00m and
5.10g/t over 0.28m)
· 4.79g/t over 1.67m from 43.33m (including 12.40g/t over 0.34m and
3.63g/t over 1.00m)
· Hole BLDDUG023:
· 106.05g/t over 1.16m from 42.04m (including 223.78g/t over 0.54m)
· Hole BLDD012:
· 5.70g/t over 1.14m from 202.36m (including 9.06g/t over 0.45m)
· Hole BLDD013:
· 2.80g/t over 12.00m from 135.00m (including 8.58g/t over 0.30m,
22.04g/t over 0.77m and 10.08g/t over 0.5m)
· Hole BLDD017:
· 3.32g/t over 3.50m from 30.00m (including 7.31g/t over 1.00m and
4.24g/t over 1.01m)
· Hole BLDD020:
· 4.86g/t over 6.96m from 207.04m (including 24.47g/t over 0.90m from
207.34m)
· The gold fire assay grades, including the gravimetric repeat assays
and the distribution between intersections of the same reefs in adjacent holes
also appear to reflect a nugget effect.
· Full assay results can be found in JORC Section 2 at the bottom of
this announcement.
* All intersection lengths are measured downhole, modelling of the Bill's Luck
Mine is currently underway, and once complete, true width intersections will
be announced
Peter Wynter Bee, Interim Chief Executive Officer of Kavango, commented:
"The resource drilling programme at Bill's Luck has exceeded our expectations,
demonstrating that the mineralised system extends to depths greater than 220m
and exhibits continuity both along strike and at depth. Together with our
incoming RC results, we hope to define a maiden Mineral Resource Estimate in
the near future, which will be used to inform mine planning and scheduling at
Bill's Luck and to underpin our assessment of the mine's longer-term
production potential. We look forward to providing further updates on our
plans to increase gold production here soon."
Bill's Luck Mine
Introduction
Bill's Luck Mine is situated within the Hillside Gold Project. Originally
mined between 1916 and 1950, the Bill's Luck Mine produced around 17,000
ounces ("oz") of gold ("Au")at an average grade of 7.7 grams per tonne
("g/t"). Since then, only limited community informal mining activity and
small-scale retreatment have taken place. At present, Kavango is focusing on
development at Bills Luck ahead of the commissioning of its 50 tonne-per-day
("tpd") pilot carbon-in-pulp ("CIP") plant.
Gold mineralisation at Bill's Luck is structurally and hydrothermally
controlled, predominantly occurring within and along the margins of these
shear zones. Alteration is characterised by quartz-sericite-chlorite
assemblages with disseminated sulphides, often vein-controlled and associated
with syntectonic quartz-sulphide veins.
Zones of higher vein density and alteration coincide with areas of stronger
deformation, with quartz boudinage, pressure shadows, and mylonitic veins
serving as key mineral traps. Late stage mineralised veins also crosscut the
earlier mylonitic fabric, indicating prolonged and possibly multi-phase
mineralisation.
The structural complexity, combined with the presence of high-strain domains,
linking shear structures, and favourable vein-hosting environments, makes the
Bill's Luck area a high-potential target for structurally-controlled gold
exploration within a dextral transpressional regime.
A collar table and a list of intersections are inserted in the accompanying
JORC table.
Figure 1: A plan and oblique view of the historic surface workings and
interpreted trace of veins with underground workings, borehole traces and gold
grades is shown below. Scale bar for assay grades is 5g/t Au.
Kavango's Operations in Zimbabwe
Kavango is exploring for gold deposits in Zimbabwe that have the potential to
be developed into commercial scale production quickly through modern
mechanised mining and processing. The Company is targeting both open-pit and
underground opportunities.
Kavango has two further priority targets at Hillside: Nightshift and Steenbok.
At Nightshift, Kavango declared a Maiden Resource Estimate of 19,000oz Au in
October 2025, which has the potential for a selective open-pit mining
operation, followed by underground mechanised mining. Meanwhile, at Steenbok,
Kavango is considering a high-grade mechanised underground mining opportunity.
Further information in respect of the Company and its business interests is
provided on the Company's website at www.kavangoresources.com
(http://www.kavangoresources.com/) and on X at @KavangoRes.
For further information, please contact:
Kavango
Resources plc
Peter Wynter Bee
+44 (0) 797 381 8125
Shard Capital (Broker)
Damon Heath
+44 204 530 6926
BlytheRay (Financial PR)
Tim Blythe/Megan Ray/Said Izagaren
kavango@blytheray.com (mailto:kavango@blytheray.com)
Tel: +44 207 138 3204
Kavango Competent Person Statement
The technical information contained in this announcement pertaining to geology
and exploration have been compiled by Mr David Catterall, a Competent Person
and a member of a Recognised Professional Organisations (ROPO). David
Catterall has sufficient experience that is relevant to the style of
mineralisation and type of deposit under consideration and to the activity
being undertaken to qualify as a Competent Person as defined in the 2012
Edition of the Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves (JORC 2012). David is the principal geologist at
Tulia Blueclay Limited and a consultant to Kavango Resources. David Catterall
is a member of the South African Council for Natural Scientific Professions, a
recognised professional organisation.
Kavango Resources plc Sampling Techniques and Data for Hillside Project Diamond Drilling. Zimbabwe
Last updated: 20 January 2025
(Criteria in this section apply to all succeeding sections)
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 (e.g. cut channels. random chips. or specific · The information in this release relates to the technical details from
specialised industry standard measurement tools appropriate to the minerals the Company's resource drilling programme at Hillside Project which lies
under investigation. such as down hole gamma sondes. or handheld XRF within the Filabusi Greenstone Belt, Matabeleland, Zimbabwe.
instruments. etc). These examples should not be taken as limiting the broad
meaning of sampling. · Surface Diamond drilling (HQ & NQ) was carried out and half core
samples were taken from the entire hole.
· Core was cut into two using a commercial core saw adjacent to the Ori
line to produce two splits as mirror images with regards to igneous textures,
sedimentary bedding where possible structural fabric.
· Underground Diamond drilling (AXT - 30.5mm) was carried out and full
core samples were taken from the entire hole.
· No orientation was possible on the underground drill core.
· Samples were taken based on geological contacts, and/or of up to
approximately 1m in length. The minimum sample width is 30cm to cater for
distinct quartz veins which may be diluted and obscured if 1m widths were to
be maintained.
· Core samples were submitted for a 25g fire assay with AAS finish. to
Performance Laboratories (Pvt) Ltd., at Harare, Zimbabwe.
· All samples >5g/t are repeated using a gravimetric finish.
· Selected samples will be sent to a check lab, ALS laboratories,
Johannesburg, for referee fire assay comparison.
· Kavango routinely takes pXRF readings along the core using an Olympus
Vanta on Geochem 3 beam mode for 60 seconds.
Include reference to measures taken to ensure sample representivity and the · All Kavango's drill samples were geologically logged by suitably
appropriate calibration of any measurement tools or systems used qualified geologists on site.
· Sample representativity was ensured where possible by drilling
perpendicular to structures of interest, and by the sample preparation
technique in the laboratory.
· The entire borehole was sampled based on geological logging, with the
ideal sampling interval being representative of lithology for diamond core.
· Individual samples are weighed at the field camp.
· Upon arrival at Performance lab, the samples are dried at +/- 105
degrees Celsius for 8 to 12 hours.
· The entire sample is crushed to 100% passing 4.75mm. The crushers
have inline rotary splitters that split off 500g of sample that is pulverised.
· The 500g split is pulverised in a Rocklabs pot and puck pulveriser
with 85% passing minus 75μm.
· A standard 25g aliquot is used for Fire Assay.
· Following industry best practice. a series of certified reference
materials (CRM's), duplicates and blanks were included for QAQC as outlined
further below.
Aspects of the determination of mineralisation that are Material to the Public
Report.
In cases where 'industry standard' work has been done this would be relatively
simple (e.g. 'reverse circulation drilling was used to obtain 1 m samples from
which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other
cases. more explanation may be required, such as where there is coarse gold
that has inherent sampling problems. Unusual commodities or mineralisation
types (e.g. submarine nodules) may warrant disclosure of detailed information.
Drilling techniques Drill type (e.g. core. reverse circulation. open-hole hammer. rotary air · The surface diamond drill holes were drilled using a diamond drill
blast. auger. Bangka. sonic. etc) and details (e.g. core diameter. triple or operated by Equity Drilling Limited.
standard tube. depth of diamond tails. face-sampling bit or other type.
whether core is oriented and if so. by what method. etc). · Equity uses HQ and NQ diameter conventional core barrels.
· The underground diamond drill holes were drilled by DHB drilling,
Zimbabwe using AXT core barrels.
Drill sample recovery Method of recording and assessing core and chip sample recoveries and results · Core recovery was monitored closely throughout from all diamond and RC
assessed. drilling programmes.
· Recovery in rock was >95%.
· Any voids were noted.
Measures taken to maximise sample recovery and ensure representative nature of · Samples prepared for assay are taken consistently from the same side of
the samples. the core cutting line to avoid bias.
· Geologists frequently check the core cutting procedures to ensure the
core cutter splits the core correctly in half.
· Underground diamond drill cores were not split and the whole core was
sampled and submitted for assay
· Core samples for assay are selected within logged geological,
structural, mineralisation and alteration constraints.
· Diamond drill core samples are collected from distinct geological
domains with sufficient width to avoid overbias.
Whether a relationship exists between sample recovery and grade and whether · Diamond drill sample recoveries were generally very good and as such it
sample bias may have occurred due to preferential loss/gain of fine/coarse is not expected that any such bias exists.
material.
Logging Whether core and chip samples have been geologically and geotechnically logged · Kavango's Diamond drill core is logged by a team of qualified geologists
to a level of detail to support appropriate Mineral Resource estimation. using predefined lithological, mineralogical, physical characteristic (colour,
mining studies and metallurgical studies. weathering etc) and logging codes.
· Diamond drill core was marked up on site and Geotechnical logging was
completed at the rig to ensure recoveries were adequately recorded.
· Lithological, structural, alteration and mineralisation are logged at
camp.
· The core is securely stored at the base camp.
· The geologists on site follow industry best practice and standard
operating procedure for logging
· The core is photographed wet and dry.
· pXRF and magnetic susceptibility data are routinely captured from Diamond
drill core and RC drill chips, every 0.5m to 1m.
· Density measurements for drill core were determined by Archimedes density
measurements i.e. using a precision balance to weigh sample in air and in
submerged in water. A representative piece of core was selected from each
sample for density measurement.
· The QA/QC compilation of all logging results are stored and
backed up on a data cloud.
Whether logging is qualitative or quantitative in nature. Core (or costean. · All logging is conducted in accordance with Kavango's SOP and
channel. etc) photography. standard published logging charts and classification for grain size,
abundance, colour and lithologies to maintain a qualitative and
semi-quantitative standard based on visual estimation.
· Magnetic susceptibility readings are also taken every metre
and/or half metre using a ZH Instruments SM-20/SM-30 reader.
· All core drilled was photographed wet and dry according to
industry best practice.
The total length and percentage of the relevant intersections logged. · 100% of all recovered intervals are geologically logged.
Sub-sampling techniques and sample preparation If core. whether cut or sawn and whether quarter. half or all cores taken. · Selected diamond core intervals are cut in half with a commercial
core cutter. using a 2mm thick blade
· One half is sampled for analysis while the other half is kept for
reference.
· Some of the retained half core is submitted for metallurgical
test work.
· For selected petrographic samples core is quartered.
· Underground diamond drill cores are not cut and the whole core is
sampled and submitted for assay.
For all sample types. the nature. quality and appropriateness of the sample · Field sample handling and preparation is suitable for all
preparation techniques drilling methods utilised.
· The laboratory sample preparation technique is considered
appropriate and suitable for the core samples and as well as for the expected
grades.
Quality control procedures adopted for all sub-sampling stages to maximise · Kavango's standard field QAQC procedures for drilling samples
representivity of samples. include the field insertion of blanks, an appropriate selection of standards,
field duplicates, replicates, and selection of requested laboratory pulp and
coarse crush duplicates.
· These are being inserted at a rate of 2.5- 5% each to ensure an
appropriate rate of QAQC.
Measures taken to ensure that the sampling is representative of the in-situ · Sampling is deemed appropriate for the type of survey and
material collected. including for instance results for field equipment used.
duplicate/second-half sampling.
· Quarter diamond core duplicates are occasionally submitted to
help with understanding gold distribution and nugget effect. This could
potentially bias the sample due to the nugget effect and vein hosted nature of
the mineralisation and would reduce the sample volume. However, for resource
calculations the quarter cores results are recombined to give an averaged
result.
· Laboratory duplicates are produced from the crushed and milled
core.
Whether sample sizes are appropriate to the grain size of the material being · On occasions gold from this project may be coarse, therefore, some
sampled. nugget effect is expected. This is minimised by using the largest diameter of
core possible with the available equipment, and by utilising halved rather
than quartered core for assay.
Quality of assay data and laboratory tests The nature. quality and appropriateness of the assaying and laboratory · A company audit was made of the assay laboratory in this case
procedures used and whether the technique is considered partial or total. Performance Laboratories before it was engaged.
· The digest and fire assay technique provide a total analysis method.
· Between 5% and 20% of submitted samples consisted of additional blank,
duplicate (lab duplicate from splitting the pulp), and standard samples.
· Round robin and accreditation results for the laboratory were reviewed
and considered acceptable.
· The company's QAQC samples, including standards, are considered to
confirm acceptable bias and precision with no contamination issues identified.
For geophysical tools. spectrometers. handheld XRF instruments. etc. the · Kavango use ZH Instruments SM20 and SM30 magnetic susceptibility meters for
parameters used in determining the analysis including instrument make and measuring magnetic susceptibilities and readings are randomly repeated to
model. reading times. calibrations factors applied and their derivation. etc. ensure reproducibility and consistency of the data.
· An Olympus Vanta C-series pXRF instrument is used in 3-beam geochemical
mode with reading times of 60 seconds in total. Measurements are taken on
clean dry core.
· For the pXRF results no user factor was applied as per Kavango's SOP. The
units are calibrated daily with their respective calibration disks.
· In the case of multiple pXRFs the data will be collated and user factors
calculated to ascertain their effectiveness.
Nature of quality control procedures adopted (e.g. standards. blanks. · All QAQC samples were reviewed for precision and accuracy. Results were
duplicates. external laboratory checks) and whether acceptable levels of deemed repeatable and representative:
accuracy (i.e. lack of bias) and precision have been established.
· For pXRF appropriate certified reference materials are inserted on a ratio
of 1:25 samples.
· Repeat readings are taken every 25 samples. and blank samples are inserted
every 25 samples.
· QAQC samples are reviewed for consistency.
· pXRF CRM values show a slight positive bias. including for Cu.
· At low levels (<10ppm) silver values in particular are scattered.
· When laboratory assay results are received blank, standard, and duplicate
values are reviewed to monitor lab performance.
· Select low, moderate and high-grade assay samples are selected, re-labelled
and re-submitted to Performance to assess repeatability.
· Select low, moderate and high-grade assay samples will also be sent for
check analysis at an internationally accredited laboratory.
· Performance Lab insert their own CRM's, duplicates and blanks and
follow their own SOP for quality control.
· Performance Laboratories are locally accredited but not
internationally accredited.
· Kavango is aware of this and carries out exhaustive QAQC checks and
works with Performance to ensure accuracy and repeatability.
· A series of samples, including one entire hole from twinned pair have
been sent to Performance in Zimbabwe and ALS Laboratories in South Africa,
with acceptable results
· Further external referee laboratory checks will be carried out as and
when sufficient holes have been drilled to warrant.
Verification of sampling and assaying The verification of significant intersections by either independent or · All drill core intersections were verified by peer review.
alternative company personnel.
· The Company's internal CP reviewed sampling and has visited site and
the laboratory to verify protocols.
· Assay data was received as assay certificates and cross checked
by an independent CP against sample submission data to ensure a correct match.
The use of twinned holes. · In previous drilling at Bills Luck, one hole was abandoned, and
the follow-up hole was designed as a twin.
Documentation of primary data. data entry procedures. data verification. data · All data is electronically stored with peer review of data
storage (physical and electronic) protocols. processing and modelling.
· Data entry procedures standardised in SOP data checking and
verification routine.
· Data storage is on a cloud storage facility with access controls
and automatic backups.
Discuss any adjustment to assay data. · No adjustments were made to assay data.
Location of data points Accuracy and quality of surveys used to locate drill holes (collar and · Kavango's surface drill collar coordinates are captured by using
down-hole surveys). trenches. mine workings and other locations used in handheld Garmin GPS and verified by a second handheld Garmin GPS.
Mineral Resource estimation.
· Drill holes are routinely re-surveyed with differential DGPS at
regular intervals to ensure sub-metre accuracy as and when sufficient holes
warrant.
· Downhole surveys of drill holes were done using an AXIS Champ Mag
tool or the Champ Gyro (for DTH).
· Underground drill holes are surveyed by a qualified underground
surveyor using measured in pegs.
Specification of the grid system used. · The grid system used is UTM 35S Arc 1950. All reported coordinates
are referenced to this grid.
Quality and adequacy of topographic control. · Topographic control is based on satellite survey data collected at
30m resolution. Quality is considered acceptable.
Data spacing and distribution Data spacing for reporting of Exploration Results. · Data spacing and distribution of all survey types is deemed
appropriate for the type of survey and equipment used.
Whether the data spacing. and distribution is sufficient to establish the
degree of geological and grade continuity appropriate for the Mineral Resource · The drilling programs are designed to target the multiple interpreted
and Ore Reserve estimation procedure(s) and classifications applied. parallel auriferous veins at the Bills Luck Mine on the Prospect Claims.
Whether sample compositing has been applied. · No composite samples have been done
Orientation of data in relation to geological structure Whether the orientation of sampling achieves unbiased sampling of possible · Drill spacing is currently variable but is considered appropriate for
structures and the extent to which this is known. considering the deposit this stage of exploration.
type.
· Hole orientation is designed to intersect the target structures as
perpendicular as is practical.
· This is considered appropriate for the geological setting and for the
known mineralisation styles.
If the relationship between the drilling orientation and the orientation of · Existence, and orientation of preferentially mineralised structures
key mineralised structures is considered to have introduced a sampling bias. is not yet fully understood but current available data indicates
this should be assessed and reported if material. mineralisation occurs within steep. sub-vertical structures, with the
possibility of plunging "ore-shoots".
· The drillholes are inclined towards the target, which is understood
to dip towards the drillhole at a steep angle (actual geometry to be confirmed
by a second hole on section in the future).
· The relatively short sample length (typically 1 m) allows for
relatively accurate localisation of mineralisation.
· No significant sampling bias is therefore expected.
Sample security The measures taken to ensure sample security. · Diamond core is stored together in a secure facility at the field
office.
· Sample bags are logged, tagged, double bagged and sealed in plastic
bags stored at the field office.
· Samples are stored in a locked company compound at site and in a
locked container in Bulawayo. They are shipped onwards to the analytical
facility by a reliable commercial courier.
· Sample security includes a chain-of-custody procedure that consists
of filling out sample submittal forms that are sent to the laboratory with
sample shipments to make certain that all samples are received by the
laboratory.
· Prepared samples are transported to the analytical laboratory in
sealed bags that are accompanied by appropriate paperwork. including the
original sample preparation request numbers and chain-of-custody forms.
Audits or reviews The results of any audits or reviews of sampling techniques and data. · The CP has visited both site and the laboratory utilised and considered
practices and SOPs at both as acceptable.
· The CP reviewed all data and spot-checked significant values versus
certificates.
JORC 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 agreements or · The Hillside Project consists of 44 gold claims.
material issues with third parties such as joint ventures. partnerships.
overriding royalties. native title interests. historical sites. wilderness or · Kavango entered into an option agreement with the vendors, dated 25
national park and environmental settings. July 2023.
The security of the tenure held at the time of reporting along with any known · This was exercised on 23 April 2024 with respect to Hillside and
impediments to obtaining a licence to operate in the area. Leopard South.
· Transfer of the Claims is presently underway.
· More details are provided here
https://polaris.brighterir.com/public/kavango_resources_plc/news/rns/story/w9nq44r
(https://polaris.brighterir.com/public/kavango_resources_plc/news/rns/story/w9nq44r)
Exploration done by other parties Acknowledgment and appraisal of exploration by other parties. · The project contains a historic high-grade mine Bills Luck, which has
a history of intermittent gold production from 1916 to 1950, yielding 17,000
oz at an average grade of 7.7g/t. After 1950, the mine saw only small-scale
sand retreatment and surface workings.
· It is currently being mined by artisanal miners, who are under
contract, milling the ore at Bill's Luck stamp mill.
Geology Deposit type. geological setting and style of mineralisation. · Bills Luck lies near the southern contact of the Filabusi gold belt
and the Bulawayan Basement Schists. Younger intrusive granites bound it to the
north.
· Gold mineralisation appears to be associated with multiple sub
parallel quartz veins that occur in fine grained massive sheared granite.
· The general azimuth of the auriferous veins is 110(o) TN (dipping
steeply to the NNE)
· Bills Luck, which has a history of intermittent gold production from
1916 to 1950, yielding 17,000 oz at an average grade of 7.7g/t. After 1950,
the mine saw only small-scale sand retreatment and surface workings.
Drill hole Information A summary of all information material to the understanding of the exploration · Summary table of all completed Kavango drill holes that form the focus
results including a tabulation of the following information for all Material of the current programme is presented below.
drill holes:
· The holes were surveyed and sited using a handheld GPS
easting and northing of the drill hole collar
· Upon completion of drilling a DGPS survey was completed by professional
elevation or RL (Reduced Level - elevation above sea level in metres) of the surveyors.
drill hole collar
· Position format: UTM UPS; Map datum Arc 1950 Zone 35S.
dip and azimuth of the hole
down hole length and interception depth
hole length.
If the exclusion of this information is justified on the basis that the
information is not Material, and this exclusion does not detract from the
understanding of the report. the Competent Person should clearly explain why
this is the case.
Bills Luck Diamond Drilling Hole Collars
Hole ID East North RL Dip Azimuth EOH
BLDD001 728726.7 7733796.2 1045.3 -65 206 196.4
BLDD002 728727.9 7733804.0 1045.5 -65 194 160.4
BLDD003 728885.6 7734061.3 1044.1 -65 190 382.4
BLDD004 728726.0 7733804.0 1045.0 -70 20 379.4
BLDD005 728624.8 7733709.6 1050.4 -60 61 352.2
BLDD006 728572.0 7733694.2 1051.7 -60 45 361.2
BLDD007 728577.0 7733900.8 1047.9 -60 214 361.3
BLDD008 728400.2 7733807.3 1049.6 -65 40 369.3
BLDD009 728576.0 7733900.0 1050.0 -55 213 250.4
BLDD010 728576.0 7733900.0 1050.0 -64.65 212 250.4
BLDD011 728568.4 7733918.2 1050.0 -55 213 250.4
BLDD012 728568.4 7733918.2 1050.0 -66 213 250.3
BLDD013 728598.7 7733896.4 1050.0 -55 213 250.4
BLDD014 728598.7 7733896.4 1050.0 -60 213 255.2
BLDD015 728526.5 7733922.3 1050.0 -55 213 133.4
BLDD016 728526.5 7733922.3 1050.0 -60 213 250.4
BLDD017 728620.1 7733885.2 1048.2 -55 213 300.0
BLDD018 728620.1 7733885.2 1048.2 -60 213 300.3
BLDD019 728511.0 7733936.2 1051.1 -60 213 147.4
BLDD023 7733857.0 728651.2 1048.8 -55 213 304.4
BLDD024 7733857.7 728651.7 1048.8 -60 213 301.1
BLDDGT001 728578.4 7733816.0 1050.8 -50 261 201.2
BLDDGT002 728574.1 7733765.0 1050.9 -50 340 75.2
BLDDGT002B 728588.0 7733713.0 1050.0 -50 340 261.2
BLDDUG003 728569.9 7733809.2 995.0 -39 22 49.5
BLDDUG004 728541.2 7733800.5 995.2 41.7
BLDDUG004B 728541.0 7733800.9 995.2 -51 354 75.0
BLDDUG005 728563.7 7733792.3 995.3 -50 19 74.1
BLDDUG006 728541.0 7733800.5 994.8 -59 331 75.4
BLDDUG007 728569.4 7733809.0 994.9 -47 6 63.5
BLDDUG008 728553.2 7733819.8 969.9 3 24 74.7
BLDDUG009 728562.9 7733792.4 995.4 -48 338 62.4
BLDDUG010 728563.7 7733791.6 995.4 28.2
BLDDUG010B 728564.0 7733792.1 995.4 -57 68 68.4
BLDDUG011 728540.3 7733802.3 996.2 5 233 64.0
BLDDUG012 728570.3 7733808.6 995.1 -44 57 64.0
BLDDUG013 728540.2 7733802.7 996.1 4 251 46.2
BLDDUG014 728561.7 7733789.3 996.2 -0.2 176 74.8
BLDDUG015 728561.3 7733848.9 970.2 -44 249 63.0
BLDDUG016 728529.1 7733860.8 970.2 -66 188 12.8
BLDDUG016B 728529.1 7733861.1 970.2 -64 188 52.0
BLDDUG017 728562.3 7733847.7 970.3 -32 212 67.2
BLDDUG018 728562.7 7733847.4 970.2 -35 169 56.6
BLDDUG020 728561.9 7733847.8 970.3 -43 220 29.7
BLDDUG020B 728562.2 7733848.1 970.2 -41 220 53.5
BLDDUG020C 728562.6 7733848.6 970.2 -61 222 60.5
BLDDUG020D 728562.8 7733848.8 970.2 -63 220 62.7
BLDDUG021 728529.3 7733860.9 970.1 -59 142 79.4
BLDDUG022 728528.7 7733860.4 970.1 -64 200 50.6
BLDDUG023 728529.4 7733860.4 970.1 -56 171 54.4
BLDDUG023B 728529.5 7733859.9 970.1 -44 175 42.5
BLDDUG024 728515.1 7733879.6 931.7 -39 225 50.5
BLDDUG027 728562.5 7733850.6 971.2 5 336 45.7
Bills Luck Assay results using 0.4g/t cut-off, minimum width 0.8m, 2m dilution
Hole ID From (m) To (m) Interval Au g/t Comment
BLDD007 43.0 44.0 1.0 1.46
BLDD007 249.5 250.3 0.8 1.90
BLDD008 45.4 46.4 1.1 0.84
BLDD008 75.0 75.9 0.9 0.91
BLDD008 146.5 149.0 2.5 1.91
BLDD006 196.0 199.0 3.0 1.38
BLDD006 216.7 217.6 0.8 2.24
BLDDUG003 6.4 7.0 0.6 3.70
BLDDUG003 21.7 23.0 1.3 2.07
BLDDUG003 40.5 41.5 1.0 0.55
BLDD005 91.5 91.9 0.4 0.80
BLDD005 136.0 137.0 1.0 0.96
BLDD005 282.0 288.0 6.0 0.39
BLDD005 305.1 305.8 0.7 0.54
BLDD005 309.0 310.0 1.0 0.98
BLDD005 318.0 319.0 1.0 0.51
BLDDUG005 48.7 49.7 1.0 1.58
BLDDUG005 55.0 55.5 0.5 2.71
BLDDUG004B 47.4 51.7 4.4 11.79 includes 0.57m at 11.9g/t, 0.60m at 44.88g/t and 0.5m at 48.9g/t.
BLDDUG004B 61.3 65.3 4.0 0.49
BLDDUG006 64.0 74.4 10.4 13.60 includes 0.77m at 98.74g/t, 0.8m at 42.9g/t and 0.56m at 46.1g/t, 2.81m at
48.51g/t
BLDDUG004 9.7 9.9 0.2 1.58
BLDDUG007 43.6 44.8 1.3 1.42
BLDDUG008 30.1 31.0 0.9 0.51
BLDDUG008 40.0 41.0 1.0 1.30
BLDDUG008 42.0 44.0 2.0 1.19 includes 1m at 1.63g/t
BLDDUG008 59.0 60.0 1.0 0.40
BLDDUG008 61.0 62.6 1.6 0.79 includes 0.56m at 1.46g/t
BLDDUG008 71.8 72.1 0.3 0.76
BLDD010 28.9 29.5 0.6 22.01
BLDD010 32.0 33.0 1.0 0.63
BLDD010 34.0 34.6 0.6 10.59
BLDD010 71.0 71.6 0.6 0.57
BLDD010 85.6 86.6 1.0 9.31
BLDD010 151.7 152.9 1.2 0.82
BLDD010 158.6 159.6 1.0 0.52
BLDD010 161.6 164.8 3.2 19.65 includes 0.63m at 18.79g/t, 0.65m at 6.8g/t, 1m at 33.76g/t, 1.42m at 30.60g/t
BLDD010 165.7 166.7 1.0 0.66
BLDD010 173.2 174.8 1.6 6.12 includes 0.55m at 3.14g/t, 0.52m at 8.51g/t and 0.5m at 6.6g/t.
BLDD010 193.2 193.5 0.3 0.48
BLDD010 202.2 203.0 0.8 0.40
BLDD010 236.8 237.1 0.4 2.41
BLDDUG009 55.5 55.9 0.4 0.70
BLDD009 28.0 29.6 1.6 6.83 Includes 0.5m at 20.50g/t
BLDD009 103.7 104.7 1.0 2.15
BLDD009 127.4 128.0 0.6 0.75
BLDD009 134.0 135.4 1.4 26.01 Includes 0.5m at 24.67g/t, 0.5m at 46.72g/t and 0.43m at 3.50g/t
BLDD009 177.8 178.1 0.3 0.99
BLDD009 200.0 201.0 1.0 0.54
BLDD009 209.8 210.8 1.0 20.03
BLDD011 11.7 12.7 1.0 0.63
BLDD011 61.1 62.6 1.5 0.65
BLDD011 84.0 84.7 0.7 1.53
BLDD011 87.0 88.0 1.0 1.19
BLDD011 94.0 95.7 1.7 1.10
BLDD011 133.7 134.5 0.8 2.38
BLDD011 142.6 143.4 0.8 0.51
BLDD011 145.7 146.3 0.6 1.26
BLDD011 149.0 150.1 1.1 1.09
BLDD011 156.0 156.4 0.5 4.90
BLDD011 215.0 216.0 1.0 9.70
BLDD012 93.6 95.6 1.9 10.23 include 0.35m at 57.49g/t
BLDD012 160.6 161.4 0.8 0.87
BLDD012 163.0 164.0 1.0 0.47
BLDD012 169.1 169.9 0.9 2.38
BLDD012 179.7 182.5 2.8 0.89 Includes 0.50m at 1.38g/t
BLDD012 184.3 189.0 4.7 0.84 Includes 0.71m at 1.80g/t and 0.50 at 1.50g/t
BLDD012 191.0 191.8 0.8 1.17
BLDD012 202.4 203.5 1.1 5.70 include 0.45m at 9.06g/t
BLDD012 248.0 249.0 1.0 0.41
BLDDUG010B 36.1 37.0 0.9 3.90 include3 0.45m at 7.18g/t
BLDDUG010B 47.0 48.0 1.0 0.65
BLDD014 2.0 3.0 1.0 0.50
BLDD014 48.5 49.3 0.8 1.12
BLDD014 70.5 71.5 1.0 0.58
BLDD014 133.5 134.3 0.8 2.48
BLDD014 157.0 157.7 0.7 0.69 includes 0.31m at 1.04g/t
BLDD014 169.0 169.5 0.5 0.91
BLDDUG011 13.5 14.2 0.7 1.50 includes 0.38m at 2.16g/t
BLDD015 105.2 106.4 1.2 0.95 Includes 0.34m at 2.09g/t
BLDD015 110.4 124.0 13.6 0.78 Includes 1m at 1.64g/t and 1m at 1.65g/t
BLDD015 127.0 132.0 5.0 0.64 includes 1m at 1.77g/t
BLDD013 12.5 13.5 1.0 0.60
BLDD013 62.0 63.0 1.0 1.33
BLDD013 80.0 82.0 2.0 0.35
BLDD013 135.0 144.5 9.5 3.46 Includes 0.30m at 8.58g/t, 0.77m at 22.04g/t and 0.50m at 10.08g/t
BLDD013 163.0 164.0 1.0 0.42
BLDD013 233.5 234.5 1.0 1.14
BLDD016 117.7 139.5 21.8 1.37 Includes 0.97m at 3.70g/t, 0.5m at 8.71g/t and 0.76m at 9.73g/t
BLDD016 162.0 164.0 2.0 2.15 Includes 0.5m at 7.05g/t
BLDD016 168.2 168.5 0.3 4.00
BLDD016 254.5 255.5 1.0 0.56
BLDDUG012 14.0 15.0 1.0 0.43
BLDDUG012 54.3 54.4 0.2 8.34
BLDD017 30.0 33.5 3.5 3.32 Includes 1m at 7.31g/t and 1.01m at 4.24g/t
BLDD017 82.0 83.0 1.0 0.67
BLDD017 150.5 151.5 1.0 1.53
BLDD017 296.5 297.5 1.0 0.29
BLDD018 189.5 190.4 0.9 0.40
BLDD018 233.0 233.8 0.8 3.84
BLDD019 116.0 118.0 2.0 1.10 Includes 1m at 1.61g/t
BLDD019 122.0 147.4 25.4 1.02 Includes 1m at 3.62g/t, 1m at 6.54g/t, 1m at 2.19g/t, 0.50m at 3.06g/t and
0.60m at 2.75g/t.
BLDDUG017 23.0 24.0 1.0 0.59
BLDDUG017 25.0 26.0 1.0 1.10
BLDDUG017 34.0 35.0 1.0 0.48
BLDDUG017 46.0 47.0 1.0 0.42
BLDD020 201.0 202.0 1.0 0.50
BLDD020 207.0 214.0 7.0 4.86 Including 0.90m at 24.47g/t from 207.34m and 0.30m at 9.55g/t from 207.78m
BLDD020 217.0 218.0 1.0 1.29
BLDD020 226.7 227.4 0.7 1.86
BLDD020 243.9 244.3 0.4 0.89
BLDD020 272.3 272.6 0.3 0.91
BLDD021 128.1 128.4 0.3 1.07
BLDD021 129.0 131.0 2.0 5.48 Includes 0.3m at 26.45g/t from 129m.
BLDD021 142.8 143.1 0.3 1.23
BLDD021 143.8 144.5 0.6 0.93
BLDD021 147.0 147.9 0.9 2.21
BLDD022 28.4 29.1 0.7 0.44
BLDD022 114.0 115.0 1.0 1.52
BLDD022 159.7 161.0 1.3 5.04
BLDD022 162.4 163.1 0.6 2.10
BLDD022 222.3 223.0 0.7 0.74
BLDD022 240.5 241.5 1.0 0.40
BLDD020 25.6 26.1 0.5 0.85
BLDD020 44.5 45.2 0.7 0.76
BLDD020 149.2 152.7 3.5 0.58
BLDDUG014 6.7 7.2 0.5 7.45
BLDDUG015 24.0 25.0 1.0 0.46
BLDDUG015 38.4 40.0 1.6 0.75
BLDDUG015 55.0 56.5 1.5 19.24 Includes 0.24m at 64.12g/t and 0.50m at 23.13g/t
BLDD024 28.0 29.0 1.0 0.75
BLDD024 71.5 71.8 0.3 9.06
BLDD024 150.7 151.0 0.3 37.26
BLDD023 37.4 38.0 0.6 4.24
BLDD023 106.5 107.5 1.0 0.42
BLDD023 139.6 140.6 1.0 1.39
BLDD023 296.0 297.0 1.0 0.48
BLDDUG016B 17.0 18.0 1.0 1.29
BLDDUG016B 33.1 33.3 0.2 5.10
BLDDUG016B 40.6 41.6 0.9 2.11 includes 0.21m at 1.55g/t and 0.17m at 8.20g/t
BLDDUG016B 45.1 45.7 0.6 0.98
BLDDUG020B 17.6 18.0 0.4 1.39
BLDDUG020B 37.8 38.8 0.9 0.61
BLDDUG020B 44.2 44.6 0.4 6.75
BLDDUG020C 34.0 35.0 1.0 0.63
BLDDUG020C 44.3 45.3 1.1 41.28 includes 0.34m at 125.14g/t
BLDDUG020C 51.0 51.8 0.8 2.48 includes 0.21m at 4.39g/t and 0.24m at 3.57g/t
BLDDUG021 6.0 7.0 1.0 0.76
BLDDUG021 61.0 62.2 1.2 0.47
BLDDUG021 63.6 66.9 3.3 7.68 includes 0.51m at 2.92g/t and 0.82m at 26.26g/t and 0.71m at 2.12g/t
BLDDUG021 79.2 79.4 0.2 3.03
BLDDUG022 16.0 19.3 3.3 3.26 includes 1m at 8.58g/t and 0.28m at 5.10g/t
BLDDUG022 25.2 27.4 2.2 0.58
BLDDUG022 37.0 41.0 4.0 0.59 includes 0.67m at 1.43g/t
BLDDUG022 43.3 45.0 1.7 4.79 includes 0.34m at 12.40g/t and 1m at 3.63g/t
BLDDUG023 40.0 40.6 0.6 1.36
BLDDUG023 42.0 43.2 1.2 106.05 includes 0.54m at 223.78g/t
BLDDUG023 50.0 51.0 1.0 0.41
Data aggregation methods In reporting Exploration Results. weighting averaging techniques. maximum · All diamond drilling results for Bills Luck are included above.
and/or minimum grade truncations (e.g. cutting of high grades) and cut-off
grades are usually Material and should be stated. · Results for RC drilling will be released next week after verification of
QAQC.
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 Exploration · Down hole intersection widths are used throughout.
Results.
· Most of the drill intersections are into steep to vertically dipping
If the geometry of the mineralisation with respect to the drill hole angle is units. True thickness is presently unknown and will be determined based on
known. its nature should be reported. modelling for the MRE.
If it is not known and only the down hole lengths are reported. there should · All measurements state that downhole lengths have been used as the true
be a clear statement to this effect (eg 'down hole length. true width not width cannot yet be established by the current drilling.
known').
· Due to the structural control on the mineralisation and the
anastomosing nature of the shears, together with an inferred plunge more
drilling is required to provide accurate measurements for true thickness
Diagrams Appropriate maps and sections (with scales) and tabulations of intercepts · Appropriate maps (plan and oblique section) included within the text
should be included for any significant discovery being reported These should of the RNS, tabulated collar and assay results are presented above in this
include. but not be limited to a plan view of drill hole collar locations and table.
appropriate sectional views.
Balanced reporting Where comprehensive reporting of all Exploration Results is not practicable. · All completed holes are logged, sampled and dispatch as soon as
representative reporting of both low and high grades and/or widths should be possible.
practiced to avoid misleading reporting of Exploration Results.
Other substantive exploration data Other exploration data. if meaningful and material. should be reported · Geophysical work has been done previously, comprising Gradient Array IP
including (but not limited to): geological observations; geophysical survey and Stacked Schlumberger Sections
results; geochemical survey results; bulk samples - size and method of
treatment; metallurgical test results; bulk density. groundwater. geotechnical · A regional structural mapping programme has been completed and included
and rock characteristics; potential deleterious or contaminating substances. detailed structural analysis of portions of specific holes.
· Further structural work is scheduled
Bills Luck Assay results using 0.4g/t cut-off, minimum width 0.8m, 2m dilution
Hole ID From (m) To (m) Interval Au g/t Comment
BLDD007 43.0 44.0 1.0 1.46
BLDD007 249.5 250.3 0.8 1.90
BLDD008 45.4 46.4 1.1 0.84
BLDD008 75.0 75.9 0.9 0.91
BLDD008 146.5 149.0 2.5 1.91
BLDD006 196.0 199.0 3.0 1.38
BLDD006 216.7 217.6 0.8 2.24
BLDDUG003 6.4 7.0 0.6 3.70
BLDDUG003 21.7 23.0 1.3 2.07
BLDDUG003 40.5 41.5 1.0 0.55
BLDD005 91.5 91.9 0.4 0.80
BLDD005 136.0 137.0 1.0 0.96
BLDD005 282.0 288.0 6.0 0.39
BLDD005 305.1 305.8 0.7 0.54
BLDD005 309.0 310.0 1.0 0.98
BLDD005 318.0 319.0 1.0 0.51
BLDDUG005 48.7 49.7 1.0 1.58
BLDDUG005 55.0 55.5 0.5 2.71
BLDDUG004B 47.4 51.7 4.4 11.79 includes 0.57m at 11.9g/t, 0.60m at 44.88g/t and 0.5m at 48.9g/t.
BLDDUG004B 61.3 65.3 4.0 0.49
BLDDUG006 64.0 74.4 10.4 13.60 includes 0.77m at 98.74g/t, 0.8m at 42.9g/t and 0.56m at 46.1g/t, 2.81m at
48.51g/t
BLDDUG004 9.7 9.9 0.2 1.58
BLDDUG007 43.6 44.8 1.3 1.42
BLDDUG008 30.1 31.0 0.9 0.51
BLDDUG008 40.0 41.0 1.0 1.30
BLDDUG008 42.0 44.0 2.0 1.19 includes 1m at 1.63g/t
BLDDUG008 59.0 60.0 1.0 0.40
BLDDUG008 61.0 62.6 1.6 0.79 includes 0.56m at 1.46g/t
BLDDUG008 71.8 72.1 0.3 0.76
BLDD010 28.9 29.5 0.6 22.01
BLDD010 32.0 33.0 1.0 0.63
BLDD010 34.0 34.6 0.6 10.59
BLDD010 71.0 71.6 0.6 0.57
BLDD010 85.6 86.6 1.0 9.31
BLDD010 151.7 152.9 1.2 0.82
BLDD010 158.6 159.6 1.0 0.52
BLDD010 161.6 164.8 3.2 19.65 includes 0.63m at 18.79g/t, 0.65m at 6.8g/t, 1m at 33.76g/t, 1.42m at 30.60g/t
BLDD010 165.7 166.7 1.0 0.66
BLDD010 173.2 174.8 1.6 6.12 includes 0.55m at 3.14g/t, 0.52m at 8.51g/t and 0.5m at 6.6g/t.
BLDD010 193.2 193.5 0.3 0.48
BLDD010 202.2 203.0 0.8 0.40
BLDD010 236.8 237.1 0.4 2.41
BLDDUG009 55.5 55.9 0.4 0.70
BLDD009 28.0 29.6 1.6 6.83 Includes 0.5m at 20.50g/t
BLDD009 103.7 104.7 1.0 2.15
BLDD009 127.4 128.0 0.6 0.75
BLDD009 134.0 135.4 1.4 26.01 Includes 0.5m at 24.67g/t, 0.5m at 46.72g/t and 0.43m at 3.50g/t
BLDD009 177.8 178.1 0.3 0.99
BLDD009 200.0 201.0 1.0 0.54
BLDD009 209.8 210.8 1.0 20.03
BLDD011 11.7 12.7 1.0 0.63
BLDD011 61.1 62.6 1.5 0.65
BLDD011 84.0 84.7 0.7 1.53
BLDD011 87.0 88.0 1.0 1.19
BLDD011 94.0 95.7 1.7 1.10
BLDD011 133.7 134.5 0.8 2.38
BLDD011 142.6 143.4 0.8 0.51
BLDD011 145.7 146.3 0.6 1.26
BLDD011 149.0 150.1 1.1 1.09
BLDD011 156.0 156.4 0.5 4.90
BLDD011 215.0 216.0 1.0 9.70
BLDD012 93.6 95.6 1.9 10.23 include 0.35m at 57.49g/t
BLDD012 160.6 161.4 0.8 0.87
BLDD012 163.0 164.0 1.0 0.47
BLDD012 169.1 169.9 0.9 2.38
BLDD012 179.7 182.5 2.8 0.89 Includes 0.50m at 1.38g/t
BLDD012 184.3 189.0 4.7 0.84 Includes 0.71m at 1.80g/t and 0.50 at 1.50g/t
BLDD012 191.0 191.8 0.8 1.17
BLDD012 202.4 203.5 1.1 5.70 include 0.45m at 9.06g/t
BLDD012 248.0 249.0 1.0 0.41
BLDDUG010B 36.1 37.0 0.9 3.90 include3 0.45m at 7.18g/t
BLDDUG010B 47.0 48.0 1.0 0.65
BLDD014 2.0 3.0 1.0 0.50
BLDD014 48.5 49.3 0.8 1.12
BLDD014 70.5 71.5 1.0 0.58
BLDD014 133.5 134.3 0.8 2.48
BLDD014 157.0 157.7 0.7 0.69 includes 0.31m at 1.04g/t
BLDD014 169.0 169.5 0.5 0.91
BLDDUG011 13.5 14.2 0.7 1.50 includes 0.38m at 2.16g/t
BLDD015 105.2 106.4 1.2 0.95 Includes 0.34m at 2.09g/t
BLDD015 110.4 124.0 13.6 0.78 Includes 1m at 1.64g/t and 1m at 1.65g/t
BLDD015 127.0 132.0 5.0 0.64 includes 1m at 1.77g/t
BLDD013 12.5 13.5 1.0 0.60
BLDD013 62.0 63.0 1.0 1.33
BLDD013 80.0 82.0 2.0 0.35
BLDD013 135.0 144.5 9.5 3.46 Includes 0.30m at 8.58g/t, 0.77m at 22.04g/t and 0.50m at 10.08g/t
BLDD013 163.0 164.0 1.0 0.42
BLDD013 233.5 234.5 1.0 1.14
BLDD016 117.7 139.5 21.8 1.37 Includes 0.97m at 3.70g/t, 0.5m at 8.71g/t and 0.76m at 9.73g/t
BLDD016 162.0 164.0 2.0 2.15 Includes 0.5m at 7.05g/t
BLDD016 168.2 168.5 0.3 4.00
BLDD016 254.5 255.5 1.0 0.56
BLDDUG012 14.0 15.0 1.0 0.43
BLDDUG012 54.3 54.4 0.2 8.34
BLDD017 30.0 33.5 3.5 3.32 Includes 1m at 7.31g/t and 1.01m at 4.24g/t
BLDD017 82.0 83.0 1.0 0.67
BLDD017 150.5 151.5 1.0 1.53
BLDD017 296.5 297.5 1.0 0.29
BLDD018 189.5 190.4 0.9 0.40
BLDD018 233.0 233.8 0.8 3.84
BLDD019 116.0 118.0 2.0 1.10 Includes 1m at 1.61g/t
BLDD019 122.0 147.4 25.4 1.02 Includes 1m at 3.62g/t, 1m at 6.54g/t, 1m at 2.19g/t, 0.50m at 3.06g/t and
0.60m at 2.75g/t.
BLDDUG017 23.0 24.0 1.0 0.59
BLDDUG017 25.0 26.0 1.0 1.10
BLDDUG017 34.0 35.0 1.0 0.48
BLDDUG017 46.0 47.0 1.0 0.42
BLDD020 201.0 202.0 1.0 0.50
BLDD020 207.0 214.0 7.0 4.86 Including 0.90m at 24.47g/t from 207.34m and 0.30m at 9.55g/t from 207.78m
BLDD020 217.0 218.0 1.0 1.29
BLDD020 226.7 227.4 0.7 1.86
BLDD020 243.9 244.3 0.4 0.89
BLDD020 272.3 272.6 0.3 0.91
BLDD021 128.1 128.4 0.3 1.07
BLDD021 129.0 131.0 2.0 5.48 Includes 0.3m at 26.45g/t from 129m.
BLDD021 142.8 143.1 0.3 1.23
BLDD021 143.8 144.5 0.6 0.93
BLDD021 147.0 147.9 0.9 2.21
BLDD022 28.4 29.1 0.7 0.44
BLDD022 114.0 115.0 1.0 1.52
BLDD022 159.7 161.0 1.3 5.04
BLDD022 162.4 163.1 0.6 2.10
BLDD022 222.3 223.0 0.7 0.74
BLDD022 240.5 241.5 1.0 0.40
BLDD020 25.6 26.1 0.5 0.85
BLDD020 44.5 45.2 0.7 0.76
BLDD020 149.2 152.7 3.5 0.58
BLDDUG014 6.7 7.2 0.5 7.45
BLDDUG015 24.0 25.0 1.0 0.46
BLDDUG015 38.4 40.0 1.6 0.75
BLDDUG015 55.0 56.5 1.5 19.24 Includes 0.24m at 64.12g/t and 0.50m at 23.13g/t
BLDD024 28.0 29.0 1.0 0.75
BLDD024 71.5 71.8 0.3 9.06
BLDD024 150.7 151.0 0.3 37.26
BLDD023 37.4 38.0 0.6 4.24
BLDD023 106.5 107.5 1.0 0.42
BLDD023 139.6 140.6 1.0 1.39
BLDD023 296.0 297.0 1.0 0.48
BLDDUG016B 17.0 18.0 1.0 1.29
BLDDUG016B 33.1 33.3 0.2 5.10
BLDDUG016B 40.6 41.6 0.9 2.11 includes 0.21m at 1.55g/t and 0.17m at 8.20g/t
BLDDUG016B 45.1 45.7 0.6 0.98
BLDDUG020B 17.6 18.0 0.4 1.39
BLDDUG020B 37.8 38.8 0.9 0.61
BLDDUG020B 44.2 44.6 0.4 6.75
BLDDUG020C 34.0 35.0 1.0 0.63
BLDDUG020C 44.3 45.3 1.1 41.28 includes 0.34m at 125.14g/t
BLDDUG020C 51.0 51.8 0.8 2.48 includes 0.21m at 4.39g/t and 0.24m at 3.57g/t
BLDDUG021 6.0 7.0 1.0 0.76
BLDDUG021 61.0 62.2 1.2 0.47
BLDDUG021 63.6 66.9 3.3 7.68 includes 0.51m at 2.92g/t and 0.82m at 26.26g/t and 0.71m at 2.12g/t
BLDDUG021 79.2 79.4 0.2 3.03
BLDDUG022 16.0 19.3 3.3 3.26 includes 1m at 8.58g/t and 0.28m at 5.10g/t
BLDDUG022 25.2 27.4 2.2 0.58
BLDDUG022 37.0 41.0 4.0 0.59 includes 0.67m at 1.43g/t
BLDDUG022 43.3 45.0 1.7 4.79 includes 0.34m at 12.40g/t and 1m at 3.63g/t
BLDDUG023 40.0 40.6 0.6 1.36
BLDDUG023 42.0 43.2 1.2 106.05 includes 0.54m at 223.78g/t
BLDDUG023 50.0 51.0 1.0 0.41
Data aggregation methods
In reporting Exploration Results. weighting averaging techniques. maximum
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.
· All diamond drilling results for Bills Luck are included above.
· Results for RC drilling will be released next week after verification of
QAQC.
Relationship between mineralisation widths and intercept lengths
These relationships are particularly important in the reporting of Exploration
Results.
If the geometry of the mineralisation with respect to the drill hole angle is
known. its nature should be reported.
If it is not known and only the down hole lengths are reported. there should
be a clear statement to this effect (eg 'down hole length. true width not
known').
· Down hole intersection widths are used throughout.
· Most of the drill intersections are into steep to vertically dipping
units. True thickness is presently unknown and will be determined based on
modelling for the MRE.
· All measurements state that downhole lengths have been used as the true
width cannot yet be established by the current drilling.
· Due to the structural control on the mineralisation and the
anastomosing nature of the shears, together with an inferred plunge more
drilling is required to provide accurate measurements for true thickness
Diagrams
Appropriate maps and sections (with scales) and tabulations of 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.
· Appropriate maps (plan and oblique section) included within the text
of the RNS, tabulated collar and assay results are presented above in this
table.
Balanced reporting
Where comprehensive reporting of all Exploration Results is not practicable.
representative reporting of both low and high grades and/or widths should be
practiced to avoid misleading reporting of Exploration Results.
· All completed holes are logged, sampled and dispatch as soon as
possible.
Other substantive exploration data
Other exploration data. if meaningful and material. should be reported
including (but not limited to): geological observations; geophysical survey
results; geochemical survey results; bulk samples - size and method of
treatment; metallurgical test results; bulk density. groundwater. geotechnical
and rock characteristics; potential deleterious or contaminating substances.
· Geophysical work has been done previously, comprising Gradient Array IP
and Stacked Schlumberger Sections
· A regional structural mapping programme has been completed and included
detailed structural analysis of portions of specific holes.
· Further structural work is scheduled
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. END DRLEAEFSAEFKEAA
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