REG - Thor Mining PLC - Kapunda Copper Resource <Origin Href="QuoteRef">THRL.L</Origin> - Part 4
12/02/2018 07:05
- Part 4: For the preceding part double click ID:nRSL5160Ec
modelled using Maptek's Vulcan. Re-assaying of drill core by Copper Range and Terramin has confirmed the veracity of original sampling techniques and results. External
audits and review of modelling techniques and data has been undertaken by Leon Faulkner from ECR.
· The measures taken to ensure sample security.
Chain of custody management was not documented.
Audits or reviews
· The results of any audits or reviews of sampling techniques and
data.
Prior to acquiring the Kapunda Project from Maximus Resources Ltd (Maximus),
Terramin audited the Stuart Metals database against original reports and
viewed drill core at the South Australian Drill Core Reference Library.
Historical density techniques were considered inappropriate and discarded.
New measurements collected by TZN and ERC show that density had previously
been overcalled by over 10%. All data was loaded into a DataShed database and
validated. Mineralisation was then visually checked and modelled using
Maptek's Vulcan. Re-assaying of drill core by Copper Range and Terramin has
confirmed the veracity of original sampling techniques and results. External
audits and review of modelling techniques and data has been undertaken by Leon
Faulkner from ECR.
Section 2: Reporting for Exploration Results
Mineral tenement and land tenure status · Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. The Kapunda Mineral Resource is located approximately 90 km north of Adelaide and sits within exploration license (EL) 5262 held by Terramin Exploration Pty Ltd (Terramin
Exploration). EL 5262 is currently in good standing and owned 100% by Terramin Exploration. In August 2017 Terramin Exploration entered a joint venture agreement with
ECR (TZN ASX announcement - New Copper Joint Venture Development, 2/8/2017) who will investigate the potential to extract the copper through low cost in-situ recovery
(ISR) from shallow oxide ores in and around the historic Kapunda Mine area. The majority of the Mineral Resource sits beneath the heritage listed Kapunda Mine historic
site which is owned by Light Regional Council. The southern extent of the Mineral Resource sits beneath freehold farmland. With the Kapunda Mine historic site heritage
listed and the encroachment of housing within a few hundred metres of the site there is no likelihood of extracting copper by traditional open cut or underground mining
techniques. ISR is seen as the only potential method that could be permitted to extract copper. The site consists of an unrehabiliated historic mining site covered by
numerous old workings including open cut pits, shafts and waste dumps. There are also remnants of Australia's first heap leach trials which were undertaken in the 1950's.
Vegetation regrowth has been minimal because of the high copper content of the soils and a large portion of the historic workings fenced off for the safety of the general
public.
· 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. EL 5262 is currently in good standing. The majority of the project area falls within the Kapunda Mine historic site which is owned by the LightRegional Council and as such the land is classified as exempt land under the South Australian Mining Act 1971. This will require a waiver of exemption to be signed before any exploration or mining activities can take place. Clearance from the Department of Environment, Water and Natural Resources (DEWNR) will be required before activities can be conducted within the Heritage Site. Proximity to the Kapunda township means that significant community engagement will need to be carried out before preliminary testing or mining operations can be conducted.
Exploration done by other parties · Acknowledgment and appraisal of exploration by other parties. Since the cessation of mining, Kapunda has been explored by several different government agencies and exploration companies including;SA Dept of Mines (1961-64)Mines
Exploration (Broken Hill South) (1964-69)Minefields Exploration (1970)Noranda (1970)Northern Minerals Syndicate (1970-72)Northland Minerals (1971-85) (including Utah
Development Co. (1974-78)Aztec Minerals Ltd (1987-88)Shell company (1995)Stuart Metals (1995-99)Minefinders Pty Ltd (1999-2000)Flinders Mines Ltd (2003-08)Copper Range
(2007 - 09)Maximus (2008-2013)Terramin (2013-present) Work carried out by these groups has included geophysics, mapping, rock chip sampling, trenching, percussion and
diamond drilling. Metallurgical and economic studies on the feasibility of restarting the Kapunda mine have been undertaken on at least 2 occasions. The largest phases of
exploration occurred during the mid-1960's through to the mid 1970's with several groups undertaking detailed drilling programs. A brief summary of the larger drilling
programs is provided below. Detail is available in the open file envelopes on the South Australian government's SARIG website. Mines Exploration Pty. Ltd.3 Diamond
holes45 Percussion holes Noranda Australia Ltd.56 percussion holes Northland Minerals Ltd.53 diamond holes369 Auger holes (not used in the Mineral Resource estimate)11
percussion holes Utah Development Co.18 diamond core holes 66 non-core holes Copper Range 4 RC holes1 Diamond core hole
Geology · Deposit type, geological setting and style of mineralisation. The Kapunda Mineral Resource is located in the Tindelpina Shale Member of the Tapley Hill Formation. It is a structurally controlled copper deposit with the orebody
sitting on the western limb of an antiform with primary copper mineralisation consisting of an en echelon series of lodes striking at ~020 degrees magnetic and dipping
~70 degrees west. Secondarysupergene enrichment has taken place leading to the development of a significant copper enriched zone with kaolinized metasediments. Mineral
species targeted by this Kapunda Mineral Resource include copper oxides (azurite, malachite and cuprite) and secondary copper sulphide minerals (chalcocite and covellite)
within 100m of surface.
Drill hole Information · A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: No new drillhole data or other exploration results are reported. All information has been compiled from "open file envelopes" available for download through the South
Australian Government's SARIG website-http://minerals.statedevelopment.sa.gov.au/
· easting and northing of the drill hole collar
· elevation or RL (Reduced Level - elevation above sea level in metres) of the drill hole collar
· 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. No new exploration results have been reported, all information is publically available from SARIG.
Data aggregation methods · In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. No new exploration results have been reported, all information is publically available from SARIG.
· 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. No metal equivalents are reported.
Relationship between mineralisation widths and intercept lengths · These relationships are particularly important in the reporting of Exploration Results. No new exploration results have been reported, all information is publically available from SARIG.
· 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 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. Figures 2 and 3 in main text.
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. No new exploration results have been reported, all information is publically available from SARIG.
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. The overall copper grade of the Mineral Resource estimate fits within the accepted parameters for copper ISR operations. Initial hydrogeological investigations show that
the en echelon and conjugate fracture systems provide transmissivity values within the range needed for successful ISR operations. The copper mineral species targeted are
considered to be potentially recoverable by ISR but laboratory testing needed to confirm this. The majority of the Mineral Resource sits below the current water table.
Laboratory testing of samples with different lixiviant systems is required to assess the recoverability of the ore and determine the mineral species that will exist in
the pregnant solutions.
Further work · The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling). Following approvals from the Light Regional Council and regulators, a groundwater sample from the mineralized lode system will be collected and be used in the laboratory
testing of lixiviant systems on core samples to be undertaken by CSIRO. Further hydrogeological investigations including aquifer pump testing and beneficial use studies
will be undertaken. Understanding the hydrogeology of the area is critical to the Kapunda Project. Consequently, detailed hydrogeological investigations will be
undertaken to accurately modelgroundwater parameters. These models will allow ECR to undertake design work to ensure that there is no compromising existing users' water
quality or ability to access water. Groundwater Science has been engaged by ECR to carry out further groundwater studies.
· Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive. Additional drilling is required to better define and potentially extend the southern limits of the Kapunda mineralisation, Figure 2.
Further work
· The nature and scale of planned further work (eg tests for lateral
extensions or depth extensions or large-scale step-out drilling).
Following approvals from the Light Regional Council and regulators, a
groundwater sample from the mineralized lode system will be collected and be
used in the laboratory testing of lixiviant systems on core samples to be
undertaken by CSIRO. Further hydrogeological investigations including aquifer
pump testing and beneficial use studies will be undertaken. Understanding the
hydrogeology of the area is critical to the Kapunda Project. Consequently,
detailed hydrogeological investigations will be undertaken to accurately
modelgroundwater parameters. These models will allow ECR to undertake design
work to ensure that there is no compromising existing users' water quality or
ability to access water. Groundwater Science has been engaged by ECR to carry
out further groundwater studies.
· Diagrams clearly highlighting the areas of possible extensions,
including the main geological interpretations and future drilling areas,
provided this information is not commercially sensitive.
Additional drilling is required to better define and potentially extend the
southern limits of the Kapunda mineralisation, Figure 2.
Section 3: Estimation and Reporting of Mineral Resources
Database integrity · Measures taken to ensure that data has not been corrupted by, for example, transcription or keying errors, between its initial collection and its use for Mineral The 2018 Kapunda Mineral Resource estimate is based on drilling largely undertaken during the 1960's and 1970's and minor drilling undertaken in 2008. Data for the Mineral Resource estimate came from scanned copies of reports that cover all
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