REG - Kefi Gold and Copper - Hawiah Copper-Gold VMS Project Update
10/11/2021 07:05
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RNS Number : 8660R Kefi Gold and Copper PLC 10 November 2021
10 November 2021
KEFI Gold and Copper plc
("KEFI" or the "Company")
Hawiah Copper-Gold VMS Project Update
Final drill assay results received and MRE underway
Resource upgrade in December 2021 with expected increase in grade and tonnage
Preliminary Feasibility Study commenced, targeting development in 2023
KEFI Gold and Copper (AIM: KEFI), the gold and copper exploration and
development company with projects in the Federal Democratic Republic of
Ethiopia and the Kingdom of Saudi Arabia, is pleased to provide an update on
the status of the Hawiah Copper-Gold VMS Project in Saudi Arabia ("Hawiah" or
the "Project").
Highlights
· Phase 4 drilling campaign is completed with 16,306m drilled and
final assay results have been received
· Update to the 2020 Mineral Resource Estimate ("MRE") is expected in
December 2021 following the recent completion of initial modelling and site
visit by independent experts
· The updated MRE is expected to include the additional resources
previously defined in the Phase 3 drilling programme, as well as material in
the Indicated category where in-fill drilling has taken place
· Early statistical analysis confirms mineralisation delineated
during the recent drilling programmes is of higher grade, which will aid to
improve the overall Project economics
· Drilling of zones outside the 2020 MRE area confirm the down
plunge continuity of the Camp Lode for a further c.670m
· The 2020 MRE had identified a resource of 19.3 million tonnes at
1.9% copper-equivalent over a strike length of c.5,000m
· Preliminary Feasibility Study ("PFS") elements have been awarded
and an experienced team of consultants has been assembled to help deliver the
PFS in 2022
· Metallurgical testing, environmental and hydrological programmes
continue to progress
Harry Anagnostaras-Adams, Executive Chairman of KEFI, commented:
"All assay results have now been received from our substantial drilling
programmes completed during 2021 at our Hawiah copper-gold-zinc-silver project
in Saudi Arabia.
"In August 2020, KEFI reported a maiden Mineral Resource Estimate of 19.3
million tonnes at 1.9% copper-equivalent in-situ for Hawiah. The 2021 drilling
results indicate we will soon be in a position to report a larger resource at
higher grade. Drilling has also better defined the ore lodes and will upgrade
a substantial portion of the near-surface Inferred Resources to the Indicated
category.
"At current market prices the 2020 Mineral Resource Estimate represents an
in-situ value of over US$3 billion worth of metal. Drilling during 2021
extended the Camp Lode mineralisation c. 670m down plunge from the 2020 MRE
and remains open down plunge.
"With drilling during 2021 confirming and extending the 2020 resource and an
increasingly positive outlook for copper pricing, Hawiah continues to increase
in value and strongly complements our Tulu Kapi Gold Project in Ethiopia."
Phase 4 Drilling and Updated MRE
The Phase 4 diamond drilling programme was completed in early September 2021
for 16,306m across 92 drillholes, bringing the Hawiah drilling total meterage
to 41,841m. All assay results have now been received and the updated MRE is on
track to be completed in December 2021.
The exploration team have been very pleased with the progress made during the
Phase 4 programme, with the geological model performing as predicted and
returned assay results indicating that an overall increase in the resource
grades for copper, zinc, gold, and silver is to be expected. This, coupled
with the additional tonnage delineated during the Phase 3 drilling, should
result in a positive MRE, building on the already economic resource announced
in 2020.
As outlined in KEFI's 24 August 2021 announcement, the Phase 4 programme was
designed to improve the drilling resolution in key areas of the Hawiah ore
body to enable an upgrade in resource classification (see figure 2 in Appendix
2).
Leading independent mining consultants SRK Consulting (UK) Ltd has been
commissioned to provide the 2021 MRE update. KEFI and SRK geological staff are
now well advanced with the modelling and evaluation works. This includes a
site visit which took place in late October 2021.
Early design works have highlighted that approximately 10 million tonnes of
mineralisation should already qualify for Indicated classification, which will
aid in the initial mine design and the generation of a maiden Ore Reserve as
part of the ongoing PFS. Ongoing drilling will in due course convert more of
the Mineral Resource to Ore Reserve.
Assay highlights from the Phase 4 diamond drilling programme include:
Transition Zone
- HWD-137 - 19.45m (11.5m Estimated True Width ("ETW")) at 1.26%
Cu, 0.29% Zn, 0.87 g/t Au and 10.91 g/t Ag
- HWD-152b - 8.57m (5.0m ETW) 2.61% Cu, 0.10 Zn%, 0.95 g/t Au and
9.24 g/t Ag
- HWD- 164 - 17.6m (13m ETW) at 2.6% Cu, 0.4 g/t Au and 5.8 g/t Ag
- HWD-170 - 12.71m (6.5m ETW) at 3.0% Cu, 0.7% Zn,0.6 g/t Au and
10.2 g/t Ag
- HWD-186 - 10.68m (9.1m ETW) at 2.3% Cu, 0.4% Zn, 0.8 g/t Au and
11.1g/t Ag
Fresh Sulphide
- HWD-097 - 22.9m (14.5m ETW) at 1.1% Cu, 0.5% Zn, 0.61 g/t Au and
9.2 g/t Ag
- HWD-099 - 19.7m (11m ETW) at 0.7% Cu, 1.4% Zn, 1.54 g/t Au and
14.5 g/t Ag
- HWD-102 - 22.2m (12.2m ETW) at 1.6% Cu, 0.2% Zn, 0.52 g/t Au and
9.0 g/t Ag
- HwD-104 - 10.1m (5.5m ETW) at 1.5% Cu, 0.2 Zn, 0.16 g/t Au, 3.36
g/t Ag
- HWD-106 - 5.7m (4.4m ETW) at 0.9% Cu, 2.4% Zn, 0.71 g/t Au and
10.0 g/t Ag
- HWD-108 - 7.4m (4.7m ETW) at 1.3% Cu, 1.3% Zn, 0.47 g/t Au and
8.6 g/t Ag
Appendix 1 tabulates the significant intercepts and collar locations for all
drill holes in the Phase 4 programme and may be seen below.
Appendix 2 provides diagrams summarising drilling undertaken at Hawiah to date
and may be seen in the appended PDF document
- http://www.rns-pdf.londonstockexchange.com/rns/8660R_1-2021-11-9.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/8660R_1-2021-11-9.pdf)
Open Pit Scenario
The team have been especially encouraged with the thickness and grades of the
Camp Lode and Crossroads Lode, particularly within the upper portions of the
deposit which should allow for an open-pit mining option to be considered
during the early phases of mine life. This open-pit scenario will be more
rigorously assessed during the later stages of the MRE and on into the PFS.
The case for the open-pit scenario has been strengthened by increased drilling
density within the transition zone, which has confirmed continuous high copper
grades across large areas of the deposit, with intervals of up to 6m
(estimated true width) at 4.4% Cu, in HWD 003.
The estimated true width weighted average assays for Phase 4 drilling within
the transition zone contain: copper +26%, gold +21% and silver +11% against
the MRE transitional zone grades.
The transition zone lies directly below the oxide zone from around 25-70m
depth. An open-pit option would also allow for a greater portion of the
gold-rich oxide cap to be exploited, potentially adding further value and
resources to the Project.
PFS Underway
The Hawiah PFS is now underway and an excellent team of consultancy groups
have been assembled to work with KEFI in the preparation of the PFS, including
SENET (a DRA Global group company), SRK Consulting (UK) Ltd and Knight
Piésold. Whilst individual consultancies will conduct work and sign-off on
specific elements of the study, the process will be managed by the Gold and
Minerals team. It is intended to have an initial Ore Reserve based on detailed
mine planning completed by mid-2022.
As previously announced, an independent environmental baseline scoping study
is ready for submission to the Saudi Arabian environmental authorities in
preparation for further baseline studies as required under the Saudi Arabian
Mining Investment Law. At the same time geo-hydrogeological studies are in
progress and a consultancy group has recently completed a vertical electrical
sounding ("VES") geophysical survey across the local wadi networks to aid with
groundwater modelling. Targeted pump testing is scheduled to start in the
coming months.
These supporting works are aimed at ensuring that the Project can continue to
be rapidly progressed towards KEFI's target of Hawiah commencing development
in late 2023.
This work programme will potentially also complement the investment criteria
of the Saudi Industrial Development Fund ("SIDF"), which is mandated to
prioritise mining with project loans of up to 75% of capital requirements,
which may also include the final stages of the exploration process. The
combination of Saudi Arabia's relative stability, the availability of domestic
capital and KEFI's long-established joint venture structure, is expected to
make the project financing aspects much more straightforward in Saudi Arabia
than they are in Ethiopia.
Harry Anagnostaras-Adams, Executive Chairman of KEFI, commented:
"Our team has also been progressing the key work streams for the Preliminary
Feasibility Study with metallurgical, environmental and hydrological
programmes now well advanced. This work is supporting the assumptions of our
2020 PEA, including that all four primary metals (copper, gold, zinc and
silver) will be recovered and contribute to Project revenue.
"An economic project has already been identified, but we are still very much
in the early days of defining the full potential of the Hawiah Project. The
ore lodes drilled to date remain open and we have yet to locate the 'feeder
zone' to the massive sulphide lodes, which represents a separate and
potentially much larger-scale target."
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.
Enquiries
KEFI Gold and Copper plc
Harry Anagnostaras-Adams (Executive Chairman) +357 99457843
John Leach (Finance Director) +357 99208130
SP Angel Corporate Finance LLP (Nominated Adviser and Joint Broker) +44 (0) 20 3470 0470
Jeff Keating, Adam Cowl
Brandon Hill Capital Ltd (Joint Broker) +44 (0) 20 7936 5200
Oliver Stansfield, Jonathan Evans
IFC Advisory Ltd (Financial PR and IR) +44 (0) 20 3934 6630
Tim Metcalfe, Florence Chandler
Competent Person Statement
The information in this announcement that relates to exploration results and
Mineral Resources is based on information compiled by Mr Tomos Bryan,
Exploration Manager for Gold & Minerals Limited. Mr Bryan is a member of
the Australasian Institute of Mining and Metallurgy ("AusIMM"). Mr Bryan is a
geologist with sufficient relevant experience for Company reporting to qualify
as a Competent Person as defined in the JORC Code 2012. Mr Bryan consents to
the inclusion in this announcement of the matters based on this information in
the form and context in which it appears.
The Hawiah Mineral Resource was announced on 19 August 2020. KEFI confirms
that it is not aware of any new information or data that materially affects
the information in the above releases and that all material assumptions and
technical parameters, underpinning the estimates continue to apply and have
not materially changed. KEFI confirms that the form and context in which the
Competent Person's findings are presented have not been materially modified
from the original market announcements.
Notes to Editor
KEFI Gold and Copper plc
KEFI is focused primarily on the advanced Tulu Kapi Gold Project development
project in Ethiopia, along with its pipeline of other projects within the
highly prospective Arabian-Nubian Shield. KEFI targets that production at Tulu
Kapi generates cash flows for capital repayments, further exploration and
expansion as warranted and, when appropriate, dividends to shareholders.
KEFI in Ethiopia
Ethiopia is currently undergoing a remarkable transformation both politically
and economically.
The Tulu Kapi gold project in western Ethiopia is being progressed towards
development, following a grant of a Mining Licence in April 2015.
The Company has now refined contractual terms for project construction and
operation, together with assembling the full funding consortium and set the
conditional terms for the development funding package of c.US$356 million.
Estimates include gold production of c.190,000oz pa. All-in Sustaining Costs
(including operating, sustaining capital and closure but not including leasing
and other financing charges) remain US$800-900/oz. Tulu Kapi's Ore Reserve
estimate totals 15.4Mt at 2.1g/t gold, containing 1.1Moz.
All aspects of the Tulu Kapi (open pit) gold project have been reported in
compliance with the JORC Code (2012) and subjected to reviews by appropriate
independent experts.
A Preliminary Economic Assessment has been published that indicates the
economic attractiveness of mining the underground deposit adjacent to the Tulu
Kapi open pit, after the start-up of the open pit and after positive cash
flows have begun to repay project debts. An area of over 1,000 square
kilometres adjacent to Tulu Kapi has been reserved for exploration by KEFI
upon commencement of development, with a view to adding satellite deposits to
development and production plans.
KEFI in the Kingdom of Saudi Arabia
In 2009, KEFI formed Gold & Minerals Limited ("G&M") in Saudi Arabia
with local Saudi partner, ARTAR, to explore for gold and associated metals in
the Arabian-Nubian Shield. KEFI has a c. 32% interest in G&M and is the
operating partner.
ARTAR, on behalf of G&M, holds over 16 Exploration Licence ("EL")
applications currently subject to approval from the various ministries as
required under the new Mining Law. ELs are renewable for up to fifteen years
and bestow the exclusive right to explore and to obtain a 30-year exploitation
(mining) lease within the area.
The Kingdom of Saudi Arabia has announced policies to encourage mineral
exploration and development, and KEFI Minerals supports this priority by
serving as the technical partner within G&M. ARTAR also serves this
government policy as the major partner in G&M, which is one of the early
movers in the modern resurgence of the Kingdom's minerals sector.
Appendix 1: Received assay and collar information - Phase 4 drilling
Hole ID Easting Northing RL Total Depth From (m) To (m) Downhole Interval (m) Estimated true width (m) Cu % Zn % Au g/t Ag g/t Lode / area Mineralisation style
HWD_097 741093 2338458 1296 182.5 138.86 161.80 22.94 14.50 1.1 0.5 0.61 9.17 Camp Lode Massive sulphide
HWD_098 741031 2338514 1293 290.5 257.90 270.04 12.14 7.70 1.0 1.3 1.22 20.80 Camp Lode Massive sulphide
HWD_099 741041 2338455 1295 266.5 227.65 247.36 19.71 11.00 0.7 1.4 1.54 14.54 Camp Lode Massive sulphide
HWD_100 741089 2338327 1300 158.5 120.55 137.86 17.31 9.80 0.9 0.4 0.43 4.74 Camp Lode Massive sulphide
HWD_101 741046 2338400 1297 242.1 200.90 219.50 18.60 11.20 1.0 0.5 0.69 7.93 Camp Lode Massive sulphide
HWD_102 741045 2338335 1298 236.5 191.75 213.93 22.18 12.20 1.6 0.2 0.52 9.00 Camp Lode Massive sulphide
HWD_103 741037 2338270 1298 245.5 205.45 226.85 21.40 9.55 1.3 0.3 0.32 6.23 Camp Lode Massive sulphide
HWD_104 741051 2338215 1300 173.5 142.50 152.55 10.05 5.50 1.5 0.2 0.16 3.36 Camp Lode Massive sulphide
HWD_105 741003 2338337 1297 299.5 273.40 278.70 5.30 4.70 1.1 0.6 0.74 10.47 Camp Lode Massive sulphide
HWD_106 740995 2338457 1294 329.5 295.15 300.82 5.67 4.40 0.9 2.4 0.71 9.94 Camp Lode Massive sulphide
HWD_107 741005 2338399 1296 299.5 270.50 278.13 7.63 5.40 1.1 1.3 1.00 12.85 Camp Lode Massive sulphide
HWD_108 740985 2338055 1302 230.5 203.73 211.15 7.42 4.70 1.3 1.3 0.47 8.59 Camp Lode Massive sulphide
HWD_109 740983 2341499 1281 167.50 137.68 145.54 7.86 4.00 1.06 1.65 0.74 14.61 Crossroads Lode Massive sulphide
HWD_111 741138 2338345 1301 173.50 143.91 151.74 7.83 3.80 0.61 1.87 0.89 13.92 Crossroads Lode Massive sulphide
HWD_112 741013 2341296 1280 359.5 331.49 336.36 4.87 3.70 0.7 1.2 0.74 9.93 Camp Lode Massive sulphide
HWD_113 740954 2338336 1297 146.50 119.89 127.13 7.24 4.90 0.46 2.13 0.75 11.24 Crossroads Lode Massive sulphide
HWD_114 740966 2341698 1288 161.50 127.15 138.40 11.25 7.60 0.35 1.73 0.97 19.73 Crossroads Lode Massive sulphide
HWD_115 740970 2341648 1287 492.6 465.00 473.41 8.41 5.00 0.9 0.2 0.27 7.49 Camp Lode Massive sulphide
HWD_116 740864 2338286 1298 128.5 97.90 98.72 0.82 0.70 1.1 0.0 0.20 6.90 Camp Lode Massive sulphide
HWD_116 740864 2338286 1298 128.5 99.12 104.12 5.00 4.30 0.66 2.87 0.63 10.63 Camp Lode Massive sulphide
HWD_117 740978 2341601 1286 179.5 149.96 150.43 0.47 0.40 1.1 0.5 0.25 8.50 Camp Lode Massive sulphide
HWD_118 740998 2338110 1302 146.50 118.06 126.28 8.22 5.60 0.49 0.92 0.67 15.29 Crossroads Lode Massive sulphide
HWD_119 741017 2341550 1286 230.5 198.10 211.68 13.58 8.40 0.9 0.5 0.31 3.54 Camp Lode Massive sulphide
HWD_120 741064 2341249 1280 100.40 64.20 77.50 13.30 6.40 1.07 1.33 0.98 16.95 Crossroads Lode Transition
HWD_121 741047 2338107 1302 82.10 58.57 61.96 3.39 1.90 0.53 0.95 0.82 11.39 Crossroads Lode Transition
HWD_122 741025 2341341 1281 149.5 119.00 130.38 11.38 6.20 0.9 1.0 0.44 8.87 Camp Lode Massive sulphide
HWD_123 740952 2338013 1302 143.30 114.97 122.85 7.88 4.75 0.53 2.14 0.90 11.77 Crossroads Lode Transition
HWD_124 740998 2341745 1293 269.1 243.65 248.70 5.05 3.30 1.2 1.2 0.41 9.32 Camp Lode Massive sulphide
HWD_125 740923 2341702 1290 80.50 54.15 60.32 6.17 3.90 2.33 0.10 0.81 9.84 Crossroads Lode Transition
HWD_126 740948 2338114 1303 215.50 190.36 196.59 6.23 3.00 0.89 0.78 0.54 11.63 Crossroads Lode Massive sulphide
HWD_127 740944 2341596 1284 326.5 291.62 307.20 15.58 8.40 0.9 1.8 0.83 13.11 Camp Lode Massive sulphide
HWD_128 740959 2338168 1301 206.50 179.39 187.60 8.21 4.80 0.35 2.24 1.02 18.93 Crossroads Lode Massive sulphide
HWD_129B 740962 2338168 1301 317.5 283.00 289.64 6.64 4.00 0.8 0.7 0.55 6.67 Camp Lode Massive sulphide
HWD_130 741005 2341446 1281 152.40 108.08 131.66 23.58 10.00 1.03 0.78 0.52 9.18 Crossroads Lode Massive sulphide
HWD_131 741006 2341396 1280 164.50 122.05 145.25 23.20 8.20 0.8 1.2 0.74 9.65 Crossroads Lode Massive sulphide
HWD_132 740948 2338459 1294 389.5 365.26 368.18 2.92 2.50 1.4 0.7 0.41 11.86 Camp Lode Massive sulphide
HWD_133 741006 2338223 1300 272.5 232.50 251.65 19.15 10.00 0.9 0.2 0.29 4.53 Camp Lode Massive sulphide
HWD_134 740788 2342442 1293 236.40 212.10 215.87 3.77 3.00 1.09 0.62 0.53 11.48 Crossroads Ext Massive sulphide
HWD_135 740868 2342578 1296 80.10 48.86 59.70 10.84 6.50 0.04 0.02 2.48 31.61 Crossroads Ext Transition
HWD_136 740835 2342436 1296 182.10 146.46 164.00 17.54 12.20 0.45 0.68 0.79 10.41 Crossroads Ext Massive sulphide
HWD_137 740909 2342414 1293 92.50 51.95 71.40 19.45 11.50 1.26 0.29 0.87 10.91 Crossroads Ext Transition
HWD_138 740809 2342312 1289 242.50 208.22 221.59 13.37 10.20 0.64 0.52 0.76 9.30 Crossroads Ext Massive sulphide
HWD_139 740930 2342319 1293 86.50 58.97 66.33 7.36 4.20 0.44 1.39 0.86 14.62 Crossroads Ext Transition
HWD_140 741154 2338431 1299 83.50 47.90 62.24 14.34 10.00 1.2 0.5 0.4 4.5 Camp Lode Transition
HWD_141 740940 2342220 1292 65.50 42.22 43.11 0.89 0.50 0.1 0.02 4.29 29.3 Crossroads Ext Transition
HWD_142 740797 2338027 1305 500.5 465.12 475.28 10.16 6.50 0.9 0.8 0.60 7.69 Camp Lode Massive sulphide
HWD_143 740859 2342315 1292 179.50 147.40 159.20 11.80 10.00 0.51 0.89 0.74 9.60 Crossroads Ext Massive sulphide
HWD_144 740842 2342180 1288 239.50 207.46 218.79 11.33 8.70 0.58 1.01 0.81 8.69 Crossroads Ext Massive sulphide
HWD_145 740805 2342558 1293 179.50 154.90 159.66 4.76 3.40 0.89 0.69 0.58 13.74 Crossroads Ext Massive sulphide
HWD_146 740984 2341833 1293 77.50 52.05 56.50 4.45 3.00 2.12 0.08 0.85 8.31 Crossroads Lode Transition
HWD_147 740923 2342368 1292 86.50 57.49 65.98 8.49 5.20 0.32 1.71 1 12.97 Crossroads Ext Transition
HWD_148 740901 2342453 1295 86.50 47.00 65.16 18.16 10.70 0.5 0.34 1.08 13.79 Crossroads Ext Transition
HWD_149 740936 2342272 1293 93.10 70.52 73.64 3.12 1.80 0.47 1 0.79 10.36 Crossroads Ext Transition
HWD_150 740881 2342536 1297 77.40 48.50 57.09 8.59 5.20 0 0 1.86 7.86 Crossroads Ext Transition
HWD_151 740951 2342173 1292 110.50 38.00 40.00 2.00 1.20 0.04 0.08 0.22 9.5 Crossroads Ext Transition
HWD_152B 740987 2341787 1293 85.00 56.63 65.20 8.57 5.00 2.61 0.10 0.95 9.24 Crossroads Lode Transition
HWD_153 740587 2337693 1301 671.9 645.70 647.45 1.75 1.60 1.3 2.5 0.54 7.79 Camp Lode Massive sulphide
HWD_154 740857 2342127 1290 227.50 204.25 208.50 4.25 3.10 0.37 2.29 0.76 11.57 Crossroads Ext Massive sulphide
HWD_155 741004 2341702 1292 89.50 59.50 66.10 6.60 4.20 0.90 0.07 1.24 17.78 Crossroads Lode Transition
HWD_156 741012 2341602 1288 103.00 70.61 83.48 12.87 7.42 0.80 1.07 0.90 18.21 Crossroads Lode Transition
HWD_157 741013 2341499 1283 119.40 81.40 100.45 19.05 9.00 0.46 1.02 0.86 10.12 Crossroads Lode Transition
HWD_158 741036 2341501 1285 68.20 33.71 47.50 13.79 7.20 0.66 0.03 0.90 10.61 Crossroads Lode Transition
HWD_159 741026 2341603 1289 71.30 32.50 50.00 17.50 7.00 0.03 0.04 1.29 84.73 Crossroads Lode Transition
HWD_160 741051 2341306 1280 98.40 64.35 75.75 11.40 5.50 1.21 0.34 0.98 8.32 Crossroads Lode Transition
HWD_161 740895 2342189 1291 173.00 148.23 153.72 5.49 4.00 0.40 1.74 0.64 10.25 Crossroads Ext Massive sulphide
HWD_162 741238 2338955 1287 68.50 35.00 48.00 13.00 7.40 1.3 0.7 0.5 9.8 Camp Lode Transition
HWD_163 741235 2338912 1286 42.40 31.18 42.40 11.22 5.90 2.0 1.0 2.0 10.9 Camp Lode Transition
HWD_163B 741235 2338913 1286 65.50 37.87 46.37 8.50 5.70 1.1 1.3 0.9 10.6 Camp Lode Transition
HWD_164 741165 2338471 1298 83.50 36.00 53.60 17.60 13.00 2.6 0.0 0.4 5.8 Camp Lode Transition
HWD_165 741156 2338390 1301 92.50 53.50 65.80 12.30 8.70 1.1 0.5 0.3 4.7 Camp Lode Transition
HWD_166 740639 2337993 1307 707.13 684.90 686.40 1.50 1.20 1.4 2.0 0.63 15.15 Camp Lode Massive sulphide
HWD_167 741126 2338295 1302 74.50 44.60 54.00 9.40 7.30 2.3 0.1 1.0 15.3 Camp Lode Transition
HWD_168 741111 2338205 1302 77.40 50.50 57.75 7.25 4.80 1.2 1.1 0.6 9.4 Camp Lode Transition
HWD_169 741095 2338116 1303 71.50 48.20 49.74 1.54 1.00 0.8 0.7 0.9 15.4 Camp Lode Transition
HWD_170 741236 2338868 1287 71.50 26.44 39.15 12.71 6.50 3.0 0.7 0.6 10.2 Camp Lode Transition
HWD_170 741236 2338868 1287 71.50 43.00 47.78 4.78 3.50 0.9 0.5 0.4 7.0 Camp Lode Transition
HWD_171 740850 2337904 1299 365.5 339.60 343.91 4.31 3.00 1.2 2.1 0.76 20.27 Camp Lode Massive sulphide
HWD_172 741231 2338827 1286 74.40 39.58 45.60 6.02 4.00 0.9 1.3 0.3 7.3 Camp Lode Transition
HWD_172 741231 2338827 1286 74.40 46.60 54.55 7.95 5.80 0.7 1.4 0.5 11.6 Camp Lode Transition
HWD_173 740494 2337787 1307 - - - - - - - - - Camp Lode Abandoned
HWD_174 740956 2342120 1293 77.50 53.65 57.70 4.05 1.80 0.4 1.12 0.85 15.1 Crossroads Ext Transition
HWD_175 740972 2341876 1293 86.00 59.00 62.60 3.60 2.40 3.10 0.18 0.65 12.58 Crossroads Lode Transition
HWD_176 740964 2342065 1292 92.00 - - - - - - - - Crossroads Ext No Mineralisation
HWD_177 740968 2342009 1293 89.30 57.93 63.75 5.82 3.00 0.40 1.20 0.58 13.14 Crossroads Lode Transition
HWD_178 741089 2338076 1302 70.10 49.14 50.12 0.98 0.66 0.3 1.0 0.7 11.6 Camp Lode Transition
HWD_179 740967 2341964 1293 106.80 78.22 86.86 8.64 5.70 0.24 0.92 0.28 8.67 Crossroads Lode Transition
HWD_180 741185 2338547 1295 86.70 53.11 61.22 8.11 7.20 2.8 0.3 0.4 6.7 Camp Lode Transition
HWD_181 741026 2341403 1280 104.50 74.28 82.75 8.47 6.00 0.99 0.75 0.95 13.99 Crossroads Lode Transition
HWD_182 741204 2338586 1294 48.50 43.80 48.50 4.70 12.00 4.8 0.1 0.5 10.9 Camp Lode Transition
HWD_182B 741204 2338586 1294 79.00 42.50 47.50 5.00 4.00 2.7 0.2 0.6 8.5 Camp Lode Transition
HWD_183 741042 2341399 1280 62.50 38.50 47.50 9.00 5.60 1.05 0.06 0.96 10.89 Crossroads Lode Transition
HWD_184 741212 2338708 1289 92.30 63.48 69.96 6.48 2.30 1.5 2.8 0.6 10.7 Camp Lode Transition
HWD_184 741212 2338708 1289 92.30 70.26 75.32 5.06 8.80 0.47 2.62 1.8 20.92 Camp Lode Transition
HWD_185 741072 2338669 1290 227.5 204.26 210.84 6.58 5.00 0.7 2.2 1.08 20.65 Camp Lode Massive sulphide
HWD_186 741217 2338667 1290 80.50 47.50 50.50 3.00 2.50 2.2 0.3 0.7 9.9 Camp Lode Transition
HWD_186 741217 2338667 1290 80.50 51.25 61.93 10.68 9.10 2.3 0.4 0.8 11.1 Camp Lode Transition
HWD_187 741212 2338628 1292 77.40 50.11 59.30 9.19 7.35 1.5 0.1 0.4 7.1 Camp Lode Transition
HWD_188 741225 2338790 1286 83.50 53.07 55.32 2.25 1.70 3.6 0.7 0.5 15.4 Camp Lode Transition
HWD_188 741225 2338790 1286 83.50 56.38 66.26 9.88 7.60 0.8 2.4 0.7 15.4 Camp Lode Transition
Appendix 2: Diagrams for Hawiah Project (see appended PDF)
Appendix 3: Glossary of Technical Terms
Ag Silver
Arabian-Nubian Shield or ANS The Arabian-Nubian Shield is a large area of Precambrian rocks in various
countries surrounding the Red Sea
Au Gold
Cu Copper
DFS Definitive Feasibility Study
ETW Estimated True Width
g/t Grams per tonne
JORC Joint Ore Reserves Committee
JORC Code 2012 Australasian Code for Reporting of Exploration Results, Mineral Resources and
Ore Reserves
M Metre
Massive sulphide Rock comprised of more than 40% sulphide minerals
Mt Million tonnes
MRE Mineral Resource Estimate
NSR Net Smelter Return
oz Troy ounce of gold
PEA Preliminary Economic Assessment
PFS Preliminary Feasibility Study
Zn Zinc
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