REG - Shanta Gold Limited - New Luika Gold Mine Exploration Drilling Update
22/11/2021 07:05
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RNS Number : 0453T Shanta Gold Limited 22 November 2021
22 November 2021
Shanta Gold Limited
("Shanta Gold" or the "Company")
New Luika Gold Mine Exploration Drilling Update
Shanta Gold (AIM: SHG), the East Africa-focused gold producer, developer and
explorer, is pleased to provide an exploration drilling update at the New
Luika Gold Mine ("NLGM") in South Western Tanzania, relating to drilling
conducted in Q3 2021.
All of the these encouraging drilling intersections are outside existing
mineral reserves and will be incorporated into the next update of the mine
plan as Shanta Gold continues to extend the mine life at NLGM.
Highlights:
§ A total of 4,505 metres drilled covering 17 holes at Bauhinia Creek Main,
Bauhinia Creek East Area 1 ("BC East Area 1"), and Luika on the mining
licences at New Luika Gold Mine
§ BC Main:
o Hole CSD294 intersected 3.05 m @ 15.17 g/t Au from 110.20 m
§ incl. 1.23 m at 36.29 g/t Au
§ BC East Area 1:
o Hole CSD251 intersected 10.56 m @ 22.67 g/t Au from 98.00m
§ incl. 4.30 m at 51.65 g/t Au
§ Luika:
o Hole CSD227 intersected 4.88 m @ 4.72 g/t Au from 529.20 m
§ incl. 2.12 m at 8.07 g/t Au
o Hole CSD269 intersected 5.44 m @ 5.84 g/t Au from 539.92 m
§ incl. 1.16 m at 17.88 g/t Au
§ Reported results are over strike lengths of 160 m, 270 m, and 320 m for BC
Main, BC East Area 1, and Luika, respectively;
§ A further 3,733 metres of RC drilling covering 47 holes at Porcupine South
("Porcupine South") located approximately 22 kilometres from the NLGM
processing plant:
o Hole PSRC049 intersected 8 m @ 2.60 g/t Au from 53 m
§ incl. 1 m @ 5.02 g/t Au and 3 m at 4.23 g/t Au;
o Hole PSRC066 intersected 7 m @ 2.38 g/t Au from 53 m
§ incl. 2 m at 4.75 g/t Au
o Hole PSRC051 intersected 10 m @ 2.26 g/t Au from 53 m
§ incl. 4 m at 4.07 g/t Au
o Hole PSRC088 intersected 13 m @ 3.01 g/t Au from 167 m
§ incl. 5 m at 5.06 g/t Au
o Hole PSRC089 intersected 9 m @ 2.46 g/t Au from 58m
§ incl. 3 m at 5.63 g/t Au
o Hole PSRC090 intersected 7 m @ 2.25 g/t Au from 93 m
§ incl. 3 m at 4.49 g/t Au
§ Reported results are over a strike length of 600 m at Porcupine South
(western extension) targets
§ All of the these newly reported drilling intersections are outside existing
mineral reserves and will be incorporated into the next update of the mine
plan
§ Mineralisation at Luika and Porcupine South (western extension) remains
open at depth.
Eric Zurrin, Chief Executive Officer, commented:
"Exploration drilling and mine life extension are core value drivers for
Shanta. With another set of encouraging drilling results reported at New
Luika, today's update not only adds to our ongoing exploration success this
year - strengthened by the discovery of high-grade resources at our West Kenya
project - but also reinforces our confidence in our strategy to deliver
sustainable growth through exploration.
The current reserve life at New Luika has been extended to 2026, and we are
continuing to invest in exploration programmes aimed at extending the mine
life, with recent discoveries at the Porcupine South deposit adding further
life to New Luika once incorporated into the mine plan. We look forward to
publishing a reserve and resource update for New Luika in Q1 2022.
As we transition to a 100,000+ oz gold producer in 2023, ongoing exploration
will play a critical role in sustainably extending and adding to Shanta's
production profiles over time to maximise the social impact of our assets on
the ground and in returns for shareholders."
BC Main Exploration Drilling
The Bauhinia Creek deposit is located within a moderately steep (±55°),
NW-dipping shear zone, which is silicified and mineralised by an auriferous
quartz (± carbonate) vein system. BC is currently in production by way of
underground mining. Single mineralised, economic veins trend parallel to the
shear zone geometry, but pinch or taper out towards the ENE, abruptly
terminating against the Nose Fault to the WSW.
Two exploration diamond drill holes representing 343 metres were completed in
the BC Main exploration targeting to test the continuity of the BC plunging
shoot between levels 540 mRL and 500 mRL. The holes were drilled from
underground development and inclined at between minus 26 and 36 degrees and
averaged 185.32 metres in depth with a maximum of 213 metres down the hole.
It is estimated that the true widths of the mineralised zones are about 55% of
the intersected widths.
The BC Main significant intersections are tabulated below:
Hole Drilling Type From (m) To (m) Interval (m) Au (g/t)
CSD294 DD 110.20 113.25 3.05 15.17
Incl
udin
g:
110.20 111.43 1.23 36.29
CSD297 122.76 136.31 13.55 1.87
Incl
udin
g:
123.36 126.26 2.90 4.07
133.24 136.31 3.07 2.56
Assay results are from onsite laboratory at NLGM operated by independent third
party.
BC East Area 1 Exploration Drilling
BC East Area 1 is located approximately 2 km to the northwest of the NLGM
processing plant and represents an extension of the main BC deposit and an
immediate extension of the currently operational underground mine, to the east
of the Central Fault, which offsets the mineralized structure. The BC East
Area 1 structure strikes approximately NNE - SSW and dips ~50° to NW. Gold
mineralization at BC East Area 1 is associated with quartz (± carbonate)
veining and low sulphides (predominantly pyrite) mineralization. The
mineralised zone is hosted by granodioritic rocks. The structure drilled and
modelled so far at BC East Area 1 covers a strike extent of approximately 270
m. It is estimated that the true widths of the mineralised zones are about 80%
- 95% of the intersected widths in the drillholes. As of 30(th) June 2021, the
BC East Area 1 JORC compliant MRE totaled 310 kt, grading 4.53 g/t and
containing 45 koz of gold using a cut-off grade of 1.0 g/t (Refer to the
Company's news release dated 8(th) July, 2021 for further details on BC East
Area mineral resources).
The drilling programme that was completed at BC East Area 1 in Q3 2021 was
part of the drilling programme that started in H1 2021, which targeted the
area immediately below the eastern side of BC pit, between the Central Fault
and the E - W Fault between levels 950 mRL and 800 mRL. Four exploration DD
holes for 1,131.03 m and two RC holes for 402 m were drilled at BC East Area 1
in Q3 2021. The holes that returned poor intersections were drilled proximal
to the E - W Fault and suggest that there is little potential of
mineralisation continuity to the east of the E - W Fault.
Intersections from the BC East Area 1 assay results are tabulated below:
Deposit Drilling Type BHID From (m) To (m) Interval (m) Au (g/t)
BC AREA 1 DD CSD251 40.85 46.70 5.85 0.90
50.96 51.95 0.99 0.72
56.23 57.66 1.43 0.59
98.00 108.56 10.56 22.67
Incl
udin
g:
100.60 104.90 4.30 51.65
119.50 123.44 3.94 1.26
Incl
udin
g:
120.41 121.80 1.39 2.67
CSD253 No significant intersection
CSD257 No significant intersection
CSD260 No significant intersection
RC CSR630 10.00 11.00 1.00 0.11
58.00 59.00 1.00 0.02
203.00 204.00 1.00 0.01
CSR631 128.00 130.00 2.00 0.01
Incl
udin
g:
129.00 130.00 1.00 0.02
*Assay results are from the accredited independent commercial
laboratory (SGS Mwanza).
Luika Exploration Drilling
Luika is located 1.8 km to the northwest of the NLGM Processing Plant. The
Luika deposit is currently in production by way of underground mining. The
orebody strikes approximately NNE - SSW and dips ~50° to NW. Gold
mineralization at Luika is closely associated with quartz veining
(silicification) and low sulphides mineralisation (predominantly disseminated
pyrite ~1-3%). The mineralised zones are presented by moderately to
sub-vertical dipping quartz veins hosted by granodioritic rocks. The deposit
depicts relatively higher-grade westerly plunging shoots which have potential
to host significant economic mineralisation below the presently explored area
and will continue to be the target of future exploration drilling programs.
Surface exploration drill holes at Luika were designed with centre spacing of
40 - 50 m aimed to increase confidence for the Indicated resources generation
to level 510 mRL. Nine exploration diamond drill holes for a total of 2,628.92
m were completed at Luika in Q3 2021. The holes were collared on surface
(approximately 1000mRL), inclined at between minus 49° and 84° with depths
ranging from 131.12 m to a maximum of 603.42 m down the hole. It is estimated
that the true widths of the mineralised zones are about 70% - 95% of the
intersected widths in the drillholes.
Significant intersections are tabulated below:
Deposit Drilling Type BHID From (m) To (m) Interval (m) Au (g/t)
LUIKA DD CSD227* 529.20 534.08 4.88 4.72
Incl
udin
g:
530.10 532.22 2.12 8.07
CSD269 531.62 531.93 0.31 6.00
533.93 534.74 0.81 0.64
539.92 545.36 5.44 5.84
Incl
udin
g:
541.97 543.13 1.16 17.88
CSD277 No significant intersection
CSD279 225.85 229.08 3.23 0.61
Incl
udin
g:
225.85 226.25 0.40 3.18
554.00 557.72 3.72 1.05
Incl
udin
g:
554.00 555.00 1.00 2.00
CSD283 88.54 92.44 3.90 0.52
Incl
udin
g:
90.69 91.00 0.31 1.82
91.90 92.44 0.54 1.00
99.94 100.20 0.26 1.12
CSD285 67.43 70.05 2.62 1.51
Incl
udin
g:
67.43 68.16 0.73 3.96
73.11 74.65 1.54 1.51
Incl
udin
g:
74.20 74.65 0.45 2.40
82.75 85.91 3.16 0.59
Incl
udin
g:
85.27 85.91 0.64 1.12
CSD293 118.63 119.35 0.72 1.28
125.34 125.98 0.64 2.18
135.07 136.12 1.05 0.89
CSD298 155.06 159.43 4.37 2.37
165.50 170.44 4.94 0.77
172.80 177.75 4.95 3.23
Assay results are from onsite laboratory at NLGM operated by independent third
party.
*Assay results are from the accredited independent commercial laboratory(SGS
Mwanza).
Porcupine South (Western Extension) Exploration Drilling
Porcupine South is located about 22 km to the east of the NLGM Processing
Plant with total JORC compliant resources of 962kt grading 2.08 g/t containing
64k oz as of 30 June 2021.
The Northern Trend of Porcupine South strikes northwest - southeast. Drilling
at the Western Extension of Porcupine South is one of three highly prospective
targets on the licence, of which the other two targets are expected to be
drilled in 2022. Gold mineralisation is associated with quartz veins hosted by
a shear zone at the granite - dolerite contact and steeply dips to the
northeast. Higher gold mineralisation grades in the Northern Trend appear to
be closely associated with strong silica and sulphides (pyrite) alteration.
Pyrite occurs as disseminated, semi massive bands and stringers that infill
fractures. The western extension (Area 1 and Area 2) drilled and modelled so
far covers a strike extent of approximately 600 m. The ongoing drilling
program is designed to test the mineralised structure to level 1120 mRL (~120m
vertical depth).
The designed drilling centre spacing of 30 - 50 m at Porcupine South will
increase confidence for Indicated resources generation to level 1120 mRL for
Area 1 and 1160 mRL for Area 2 of the Western Extension.
At Porcupine South, forty-seven RC holes have been drilled in Q3 2021 for a
total of 3,733 m. The holes were collared on surface (approximately 1240 mRL),
inclined at between minus 48° and 60° with depth ranging from 40 m to a
maximum of 210 m down the hole.
The reported results are over a strike length of 600 m. It is estimated that
the true widths of the mineralised zones are 75% of the intersected widths in
the drillholes.
Significant intersections are tabulated below:
Hole Drilling Type From (m) To (m) Interval (m) Au (g/t)
PSRC046 RC 16 21 5 1.42
PSRC049 53 61 8 2.60
Incl
udin
g:
54 55 1 5.02
57 60 3 4.23
PSRC050 32 34 2 3.11
PSRC052 18 20 2 2.70
PSRC053 35 41 6 1.03
PSRC054 12 14 2 2.26
PSRC055 10 18 8 1.46
Incl
udin
g:
12 13 1 5.52
22 23 1 3.38
PSRC056 19 22 3 1.70
PSRC066 53 60 7 2.38
Incl
udin
g:
54 56 2 4.75
PSRC076 41 45 4 1.38
Incl
udin
g:
42 43 1 3.96
PSRC079 20 27 7 2.10
Incl
udin
g:
20 23 3 3.22
PSRC081 63 66 3 1.87
Incl
udin
g:
63 65 2 2.39
PSRC051 53 63 10 2.26
Incl
udin
g:
59 63 4 4.07
PSRC083 69 73 4 1.97
Incl
udin
g:
69 72 3 2.35
81 83 2 1.31
87 89 2 4.00
PSRC086 132 134 2 2.10
PSRC088 167 180 13 3.01
Incl
udin
g:
170 175 5 5.06
PSRC089 58 67 9 2.46
Incl
udin
g:
63 66 3 5.63
PSRC090 93 100 7 2.25
Incl
udin
g:
96 99 3 4.49
Assay results are from onsite laboratory at NLGM operated by independent third
party.
The drilling campaigns at Porcupine South will continue to the end of November
2021 with a focus on defining the geometry of the mineralised structures and
better defining the constraints of the potential open pit resources at
Porcupine South.
Shanta Gold Limited
Eric Zurrin (CEO) +44 (0) 14 8173 2153
Luke Leslie (CFO)
Nominated Adviser and Joint Broker
Liberum Capital Limited
Scott Mathieson / Ed Thomas / Nikhil Varghese +44 (0) 20 3100 2000
Joint Broker
Tamesis Partners LLP
Charlie Bendon / Richard Greenfield +44 (0) 20 3882 2868
Public Relations
FTI Consulting
Sara Powell / Jourdan Webb +44 (0) 20 3727 1426
The technical information contained in this announcement was reviewed by
Evance Rwiza (the Company's Senior Resource Geologist) who is a Member of the
Australasian Institute of Mining and Metallurgy (AusIMM) and Yuri Dobrotin,
P.Geo. Membership No.0702 (Shanta's Group Exploration Manager), who is a
practicing member of the Association of Professional Geoscientists of Ontario,
Canada (PGO).
They have 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 Persons as defined in the 2012
Edition of the 'Australasian Code for Reporting of Exploration Results,
Mineral Resources and Mineral Reserves' and for the purposes of the AIM
Guidance Note on Mining and Oil & Gas Companies dated June 2009, and
National Instrument 43-101 (''NI 43-101)
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 amended by The Market Abuse (Amendment) (EU Exit)
Regulations 2019.
About Shanta Gold
Shanta Gold is an East Africa-focused responsible gold producer, developer and
explorer. The company has an established operational track record, with
defined ore resources on the New Luika and Singida projects in Tanzania, with
reserves of 666 koz grading 3.0 g/t, and exploration licences covering
approximately 1,100 km2 in the country. Alongside New Luika and Singida,
Shanta also owns the West Kenya Project in Kenya with defined high grade
resources and licences covering approximately 1,162 km2. With a strong balance
sheet, a growing diversified portfolio and a maiden dividend paid in 2021,
Shanta offers a resilient investment opportunity for the near and long-term.
Shanta is quoted on London's AIM market (AIM: SHG) and has approximately 1,048
million shares in issue.
Glossary
Glossary of Technical Terms
"Au" chemical symbol for gold
"cut off grade" (COG) the lowest grade value that is included in a resource statement. It must
comply with JORC requirement 19: "reasonable prospects for eventual economic
extraction" the lowest grade, or quality, of mineralised material that
qualifies as economically mineable and available in a given deposit. It may
be defined on the basis of economic evaluation, or on physical or chemical
attributes that define an acceptable product specification
"g/t" grammes per tonne, equivalent to parts per million
"Inferred Resource" that part of a Mineral Resource for which tonnage, grade and mineral content
can be estimated with a low level of confidence. It is inferred from
geological evidence and assumed but not verified geological and/or grade
continuity. It is based on information gathered through appropriate
techniques from locations such as outcrops, trenches, pits, workings, and
drill holes which may be limited or of uncertain quality and reliability
"Indicated Resource" that part of a Mineral Resource for which tonnage, densities, shape, physical
characteristics, grade, and mineral content can be estimated with a reasonable
level of confidence. It is based on exploration, sampling and testing
information gathered through appropriate techniques from locations such as
outcrops, trenches, pits, workings, and drill holes. The locations are too
widely or inappropriately spaced to confirm geological and/or grade continuity
but are spaced closely enough for continuity to be assumed
"JORC" The Australasian Joint Ore Reserves Committee Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves 2012 (the "JORC Code"
or "the Code"). The Code sets out minimum standards, recommendations and
guidelines for Public Reporting in Australasia of Exploration Results, Mineral
Resources and Ore Reserves
"koz" thousand troy ounces of gold
"Measured Resource" that part of a Mineral Resource for which tonnage, densities, shape, physical
characteristics, grade, and mineral content can be estimated with a high level
of confidence. It is based on detailed and reliable exploration, sampling
and testing information gathered through appropriate techniques from locations
such as outcrops, trenches, pits, workings, and drill holes. The locations
are spaced closely enough to confirm geological and grade continuity
"Mineral Resource" a concentration or occurrence of material of intrinsic economic interest in or
on the Earth's crust in such form, quality, and quantity that there are
reasonable prospects for eventual economic extraction. The location,
quantity, grade, geological characteristics, and continuity of a Mineral
Resource are known, estimated, or interpreted from specific geological
evidence and knowledge. Mineral Resources are sub-divided, in order of
increasing geological confidence, into Inferred, Indicated and Measured
categories when reporting under JORC
"Mt" million tonnes
"oz" troy ounce (= 31.103477 grammes)
"Reserve" the economically mineable part of a Measured and/or Indicated Mineral Resource
"t" tonne (= 1 million grammes)
APPENDIX 1: SAMPLING TECHNIQUES AND DATA
Criteria JORC Code explanation Commentary
Sampling techniques · Nature and quality of sampling (eg cut channels, random chips, or · Sub surface samples have been collected by a variety of different
specific specialised industry standard measurement tools appropriate to the drilling techniques. Samples either comprise chips from reverse circulation
minerals under investigation, such as down hole gamma sondes, or handheld XRF (RC) or core from diamond.
instruments, etc). These examples should not be taken as limiting the broad
meaning of sampling. · RC samples are homogenised by riffle splitting prior to sampling
and then assayed as 1m intervals with 2-3kg submitted for assay.
· Include reference to measures taken to ensure sample representivity
and the appropriate calibration of any measurement tools or systems used. · Diamond core is split by a core saw with half the core submitted
for assay and the other half stored in trays on site. Samples are typically
· Aspects of the determination of mineralisation that are Material to submitted as 1m intervals although within the mineralised zones irregular
the Public Report. lengths are collected to reflect rock type and alteration intensity.
· In cases where 'industry standard' work has been done this would be · Drill holes are oriented perpendicular to the interpreted strike
relatively simple (eg 'reverse circulation drilling was used to obtain 1 m of the Mineralised trend.
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 · Samples are submitted to the on-site lab (Minopex ) or to the SGS
is coarse gold that has inherent sampling problems. Unusual commodities or Laboratory in Mwanza for analysis. CRMs, blanks and duplicates are inserted
mineralisation types (eg submarine nodules) may warrant disclosure of detailed into the sample stream prior to dispatching to laboratory.
information.
· At least 3kg sample pulverized and a 50g charge fire assayed with
AAS finish for gold.
Drilling techniques · Drill type (eg core, reverse circulation, open-hole hammer, rotary Drilling techniques used at New Luika Gold Mine:
air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or
standard tube, depth of diamond tails, face-sampling bit, or other type, · Reverse Circulation (RC).
whether core is oriented and if so, by what method, etc).
· Diamond Core/NQ diameter, standard tube with all core oriented when
feasible.
Drill sample recovery · Method of recording and assessing core and chip sample recoveries · Core sample recoveries routinely measured and recorded in
and results assessed. spreadsheet database.
· Measures taken to maximise sample recovery and ensure · Samples split half core perpendicular to strike of structures.
representative nature of the samples.
· Whether a relationship exists between sample recovery and grade and
whether sample bias may have occurred due to preferential loss/gain of
fine/coarse material.
Logging · Whether core and chip samples have been geologically and · Logging of geology, alteration, and geotechnical aspects recorded
geotechnically logged to a level of detail to support appropriate Mineral in drill logs for diamond core drilling.
Resource estimation, mining studies and metallurgical studies.
· Logging is qualitative; All drill core photographed.
· Whether logging is qualitative or quantitative in nature. Core (or
costean, channel, etc) photography. · Entire intervals that drilled were logged.
· The total length and percentage of the relevant intersections
logged.
Sub-sampling techniques and sample preparation · If core, whether cut or sawn and whether quarter, half or all core · Half core taken; sawn.
taken.
· For trench samples, the entire sample for the respective interval
· If non-core, whether riffled, tube sampled, rotary split, etc and aggregated, not riffled, or split. Samples are typically dry.
whether sampled wet or dry.
· Aggregated half core; Entire 3kg sample pulverized at laboratory
· For all sample types, the nature, quality, and appropriateness of prior to fire assay in order to minimize bias.
the sample preparation technique.
· Drilling and channels planed orthogonal to the strike of
· Quality control procedures adopted for all sub-sampling stages to structures/lithologies in order to maximize representativeness.
maximise representivity of samples.
· Field duplicates sampled at appropriate intervals.
· 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 · Fire assay is appropriate for the nature of gold mineralization
laboratory procedures used and whether the technique is considered partial or being assayed.
total.
· No geophysical tools used to generate exploration results.
· For geophysical tools, spectrometers, handheld XRF instruments,
etc, the parameters used in determining the analysis including instrument make · Registered reference material inserted at the interval of 20
and model, reading times, calibrations factors applied and their derivation, samples.
etc.
· Levels of accuracy and precision (detection limit) for gold is 0.01
· Nature of quality control procedures adopted (eg standards, blanks, ppm which is suitable for the level of assays reported.
duplicates, external laboratory checks) and whether acceptable levels of
accuracy (ie lack of bias) and precision have been established.
Verification of sampling and assaying · The verification of significant intersections by either independent · Significant intersections that were reported by field personnel are
or alternative company personnel. yet to be verified by an independent CP.
· The use of twinned holes. · No twinning of drill holes.
· Documentation of primary data, data entry procedures, data · Primary data was logged onto paper and later transferred into
verification, data storage (physical and electronic) protocols. database, verified by a Senior Geologist, and stored in electronic database,
which is regularly backed up. Database is verified and compared with standard
· Discuss any adjustment to assay data. assays stored in using established company protocols.
· No adjustments have been made to assay data.
Location of data points · Accuracy and quality of surveys used to locate drill holes (collar · Drill holes were accurately located and surveyed using Trimble DGPS
and down-hole surveys), trenches, mine workings and other locations used in survey equipment.
Mineral Resource estimation.
· All RC and diamond holes have been surveyed by a down hole
· Specification of the grid system used. camera.
· Quality and adequacy of topographic control. · Drill holes are surveyed in UTM Coordinates System Arc 1960 zone
36S.
· Topographical surveys were done using Aerial Lidar Survey.
Data spacing and distribution · Data spacing for reporting of Exploration Results. · Drilling assayed on a maximum of 1 m downhole.
· Whether the data spacing and distribution is sufficient to · The data spacing was enough to establish the degree of geological
establish the degree of geological and grade continuity appropriate for the and grade continuity appropriate for the mineral resource estimation
Mineral Resource and Ore Reserve estimation procedure(s) and classifications procedures.
applied.
· Samples were not composited.
· Whether sample compositing has been applied.
Orientation of data in relation to geological structure · Whether the orientation of sampling achieves unbiased sampling of · Drilling planned perpendicular to the interpreted strike of
possible structures and the extent to which this is known, considering the lithological units and geological structures.
deposit type.
· No sampling bias was interpreted.
· 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. · Samples secured by senior personnel on site and transported
directly by company vehicle to the laboratories (Minopex Labs in NLGM and SGS
in Mwanza).
Audits or reviews · The results of any audits or reviews of sampling techniques and · Internal reviews are regularly completed but no external audits
data. were carried out for the currently reported results.
APPENDIX 2: REPORTING OF EXPLORATION RESULTS
Criteria JORC Code explanation Commentary
Mineral tenement and land tenure status · Type, reference name/number, location and ownership including · ML408/2010
agreements or material issues with third parties such as joint ventures,
partnerships, overriding royalties, native title interests, historical sites, · Valid to 20/09/2030
wilderness or national park and environmental settings.
· The security of the tenure held at the time of reporting along with
any known impediments to obtaining a licence to operate in the area.
Exploration done by other parties · Acknowledgment and appraisal of exploration by other parties. · Historical colonial exploration and mining works.
Geology · Deposit type, geological setting, and style of mineralisation. · Underlain by a complex association of high grade metamorphic and
intrusive lithologies, commonly intruded by dykes of variable composition.
Modally, granodioritic and granitic lithologies are most encountered.
· These granodiorites and granites have been interpreted as
late-orogenic intrusive phases associated with gold mineralisation in the
area. Subordinate diorite, porphyroblastic hornblende gabbro,
quartzo-feldspathic felsite and migmatite are also regularly observed.
· Dyke intrusive rocks include dolerite, pegmatite, and common aplite
and alaskite, seemingly randomly crosscutting major lithologies, and therefore
regarded as younger than the country rock.
Drill hole Information · A summary of all information material to the understanding of the · Relevant tables included summarizing drill holes locations, RL,
exploration results including a tabulation of the following information for azimuth, length/depth, and significant intersection intervals.
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, · Exploration results from drilling sampling have been weighted by
maximum and/or minimum grade truncations (eg cutting of high grades) and interval.
cut-off grades are usually Material and should be stated.
· No high-grade caps have been applied.
· Where aggregate intercepts incorporate short lengths of high grade
results and longer lengths of low grade results, the procedure used for such · Lower cut-off grade of 0.5 g/t Au has generally been applied to
aggregation should be stated and some typical examples of such aggregations significant intersections.
should be shown in detail.
· Aggregate drilling and trenching intervals do not incorporate
· The assumptions used for any reporting of metal equivalent values longer lengths of low-grade results.
should be clearly stated.
· No metal equivalent reported.
Relationship between mineralisation widths and intercept lengths · These relationships are particularly important in the reporting of · Drill holes have been drilled as perpendicular as possible to the
Exploration Results. general strike of the mineralized zones and structures so that the intersected
lengths are close to true widths.
· 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').
Diagrams · Appropriate maps and sections (with scales) and tabulations of · Maps and sections are being generated.
intercepts should be included for any significant discovery being reported
These should include, but not be limited to a plan view of drill hole collar
locations and appropriate sectional views.
Balanced reporting · Where comprehensive reporting of all Exploration Results is not · All significant drilling results have been reported.
practicable, representative reporting of both low and high grades and/or
widths should be practiced to avoid misleading reporting of Exploration
Results.
Other substantive exploration data · Other exploration data, if meaningful and material, should be · Metallurgical studies on mineralised material from the Bauhinia
reported including (but not limited to): geological observations; geophysical Creek deposit during 2010/2011 indicated that the ore is amenable to direct
survey results; geochemical survey results; bulk samples - size and method of cyanidation leaching with an average of 85% gold liberated.
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 · Drilling to be continued to test the down-dip continuity of the
extensions or depth extensions or large-scale step-out drilling). delineated mineralization.
· Diagrams clearly highlighting the areas of possible extensions,
including the main geological interpretations and future drilling areas,
provided this information is not commercially sensitive.
ENDS
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