TIDMCRCL
RNS Number : 6895L
Corcel PLC
17 May 2022
/
Corcel PLC
("Corcel" or the "Company")
Wowo Gap JORC Resource
17 May 2022
Corcel, the natural resource exploration and development company
with interests in battery metals and flexible energy generation and
storage, is pleased to announce the completion of a JORC mineral
resource estimate at the Company's recently acquired Wowo Gap
nickel/cobalt project in Papua New Guinea ("PNG"), where the
Company owns a 100% interest. The establishment of a JORC resource
is a critical technical step in preparing the mining lease
application, validates Corcel's underlying rationale for the asset
acquisition and confirms Wo Wo Gap as a similar size and grade
deposit to the Company's sister project at Mambare, also in
PNG.
Highlights:
o JORC 2012 code mineral resource estimate ("MRE") of 110m
tonnes with 0.81% Ni and 0.06% Co (891,000t contained Ni and
66,000t contained Co)
o Mineralisation is continuous and laterally extensive - shallow
nature of deposit and limited overburden is amenable to low-cost
open pit mining
o Robust geological model with mineralisation well constrained
within the host saprolite and limonite layers
o Tonnage and grade reported above the 0.7% Ni cut-off compare
favourably with similar projects that have achieved production
Mineral Resource Estimate:
Using a 0.7% nickel cut-off grade, the deposit is estimated to
contain 110 million tonnes at 0.81% nickel (Ni) for 891,000 tonnes
of contained Ni and 0.06% cobalt (Co) for 66,000 tonnes of
contained Co. Tonnage is quoted on a dry basis.
Table 1. Wowo Gap Mineral Resource estimate by lithology type
and classification at 0.7% Ni cut-off.
Lithology Type Classification Million Ni% Co% Thousand Thousand
Tonnes Tonnes Tonnes
contained Contained
Ni Co
-------------------- ---------------- -------- ----- ----- ----------- -----------
Limonite/Saprolite Indicated 63 0.85 0.08 540 50
Inferred 9 0.84 0.07 76 6.3
------------------------------------- -------- ----- ----- ----------- -----------
Rocky Saprolite Inferred 38 0.75 0.02 280 7.6
---------------- -------- ----- ----- ----------- -----------
Total Indicated 63 0.85 0.08 540 44
Inferred 47 0.77 0.03 360 14
------------------------------------- -------- ----- ----- ----------- -----------
Total 110 0.81 0.06 890 66
------------------------------------- -------- ----- ----- ----------- -----------
*The project operator is Niugini Nickel Ltd.
** The Company's interest in Wowo Gap is 100% and consequently
Gross and Net resource to the Company are the same
Niugini Nickel commissioned independent consulting geologists
Queen and Associates and H&S Consultants Pty Ltd (HSC) as
Competent Persons to complete a resource estimate for the Wowo Gap
nickel laterite deposit incorporating 2015 drilling and Ground
Penetrating Radar (GPR) data that were not used in the previous
resource estimate.
The Competent Persons deem that there are reasonable prospects
for eventual economic extraction of the mineralisation.
Property Description and Access:
The project is located within EL 1165, approximately 200
kilometres east of Port Moresby and 35 kilometres from the village
of Wanigela, situated on Collingwood Bay (Figure 1).
http://www.rns-pdf.londonstockexchange.com/rns/6895L_1-2022-5-16.pdf
There is no road access to site, with personnel and equipment
transported to site by either helicopter, or by plane to a local
village airstrip, followed by a day's walk to site by locally hired
porters. The small village of Embessa is located approximately 10
kilometres northwest from site on the Musa River and serviced by an
airstrip suitable for light aircraft. Fuel, supplies and equipment
can be ferried direct to the site or from Embessa by helicopter
transport with up to 5,000 kg payload capacity. If development
proceeds, it is contemplated to construct an ore haul road directly
to Collingwood Bay, some 40 km to the east.
Prospect Geology:
The Wowo Gap nickel laterite is a result of deep weathering of
ultramafic rocks of the Papuan Ultramafic Belt (PUB). In the Didana
Range (Low and High) the ultramafic rocks consist of tectonite
ultramafics, cumulate ultramafics and gabbro and granular gabbro
(Figure 2).
http://www.rns-pdf.londonstockexchange.com/rns/6895L_1-2022-5-16.pdf
The tectonite ultramafics crop out at the eastern end of the Didana
Range adjacent to and within the western section of the Wowo Gap
Project. The Sivai Breccia, co-host of the Wowo Gap mineralisation,
flanks the tectonite ultramafic at the eastern end of the Didana
Range adjacent to the Bereruma Fault. The ultramafic breccia also
occurs along the south side of the Didana Range on the Ansuna and
Boge Plateau.
The nickel laterites are derived from the leaching of ultramafic
bedrock. In the project area the complete lateritic profile is
preserved, with partial truncation associated with recent drainage
systems. The depth of weathering varies according to rock type and
the degree of brecciation. The lateritic profile is typically 10 to
15 metres thick, increasing locally to more than 30 metres above
the Sivai Breccia.
The laterite profile (Figure 3)
http://www.rns-pdf.londonstockexchange.com/rns/6895L_1-2022-5-16.pdf
is typically 10m to 18m thick and composed of an upper iron-rich
saprolite horizon (referred to as limonite) with high (>40%) to
very high (>60%) Fe2O3 content but relatively low (<6%) MgO.
It is the limonite horizon that contains enriched levels of cobalt,
chromium and manganese values. Beneath the limonite is MgO-rich
(>6 - 40%) earthy saprolite (referred to as saprolite) horizon
with relatively low (<40%) Fe2O3 content. Below this in the
regolith profile is the rocky saprolite (saprock), clearly
identifiable because of corestones of partially weathered
ultramafic bedrock.
Project History:
Nickel laterite mineralisation in the Didana Range was first
noted in a 1958 Australian Bureau of Mineral Resources (BMR)
reconnaissance survey of the area including Wowo Gap. Nickel
mineralisation was reported in auger samples of breccia which
returned values of up to 1.3% Ni, derived from a peridotite
ultramafic having up to 0.18% Ni background values. This initial
discovery was followed by several companies including United States
Metals Refining Company (1967-1968), Papua Nickel Exploration
(1970) and BRGM (1971-1972). The current period of exploration
started when Niugini Nickel acquired the project in 1996. Since
acquiring the project Niugini Nickel has carried out considerable
work including geological mapping, resampling of pits, rock chip
sampling, drainage sampling, several drilling programmes, a LiDAR
survey over the whole of the mineralized area, two Ground
Penetrating Radar (GPR) surveys (2007 and 2014), metallurgical test
work and several Resource estimates.
This Mineral Resource estimate is based on the results of three
drilling campaigns:
o diamond core drilling [2003-2008]
o tungsten carbide-tipped core drilling [2010-2011], and
o diamond core and custom auger core drilling [2014-2015].
These drilling campaigns totalled 3,174 meters of diamond core,
2,901 meters of auger/carbide core, and 731 meters of wacker
drilling (Figures 4, 5, and 6). Sample lengths were generally 1m
with the shortest sample being 0.3m and the longest 2m; sampling
was done on half core. All drill core samples were sent to Intertek
in Lae for sample preparation, with the pulps being sent to
Intertek Jakarta for fusion XRF analysis for Ni, Co, Al2O3, CaO,
Cr2O3, Fe2O3, K2O, LOI, MgO, MnO, Na2O, P2O5, SiO2 and LOI. Total
number of samples assayed was 7874.
This Mineral Resource estimate is also based on two GPR surveys
(2007 and 2014). In addition to the drilling data, GPR was used to
define two of the geological boundaries, the boundary between
limonite/saprolite and the rocky saprolite and the boundary between
rocky saprolite and bedrock (Figure 7)
http://www.rns-pdf.londonstockexchange.com/rns/6895L_1-2022-5-16.pdf
The GPR lines in 2007 were between 200 and 300 metres apart while
the 2014 survey reduced the spacing to 100 metres over a portion of
the area (Figure 8)
http://www.rns-pdf.londonstockexchange.com/rns/6895L_1-2022-5-16.pdf
For grade estimation the laterite layers were simplified into
overburden (Qva), limonite/non rocky saprolite and rocky saprolite
which in turn were used to guide and control the mineral resource
estimate. Samples from each hole were used and were composited to
the full width of the layer, making one composite per layer for
each of the three layer; the mineralised domains were limited to
the three interpreted geological layers as noted above. Nickel and
cobalt grades from the composites where estimated using the
ordinary kriging (OK) estimation technique in Micromine software.
The mineralised domains were limited to the three interpreted
geological layers as noted above. The grade distributions for
nickel and cobalt are not strongly skewed so OK was an appropriate
estimation method; there are no extreme values requiring grade
cutting.
Resource classification is based on both the overall footprint
of the GPR coverage and drilling. A polygon covering the area with
nominal 300 m x 200 m drill spacing along with the GPR coverage was
used to flag the block model as follows:
o any Qva or limonite-saprolite blocks within it are classified
as Indicated,
o rocky saprolite blocks are classified as Inferred regardless
of the polygon, and
o any blocks outside of classification polygon are classified as
Inferred.
Density is based on the results of a limited number of samples
collected during the 2010-2011 and 2014-2015 drilling campaigns.
Based on this data a dry bulk density of 1.0 t/m3 has been used for
the "clay profile" (limonite-saprolite layer), and 2.0 t/m3 for the
rocky saprolite profile.
A nominal cut-off grade of 0.70% Ni was applied to define the
Mineral Resources, which is based on a review of comparable nickel
laterite deposits elsewhere.
The current mining plan proposal is to produce a bulk product
suitable for smelting that will be transported offsite for
processing. It has been assumed that mine waste will be relatively
low in total volume and comprise the 0.5 m to 10 m soil and
volcanic ash overburden layer. This material is likely to be used
for rehabilitation purposes after mining is complete. Low-grade
material, mostly limonitic in composition, may be stockpiled in
mined-out areas.
Reasonable Prospects Hurdle:
Clause 20 of the JORC Code (2012) requires that all reports of
Mineral Resources must have reasonable prospects for eventual
economic extraction, regardless of the classification of the
Mineral Resource. The Competent Persons deem there are reasonable
prospects for eventual economic extraction of the mineralisation on
the following basis:
o The mineralisation is continuous and laterally extensive. The
shallow nature of the deposit and limited overburden means the
deposit is amenable to low-cost open pit mining.
o The geological model is robust, with mineralisation well
constrained within the host saprolite and limonite layers.
o The Competent Person considers that the tonnage and grade
reported above the 0.7% Ni cut-off compare favourably with similar
projects that have successfully achieved production. This opinion
is based on experience with tropical nickel laterite deposits in
Papua New Guinea at all stages of project development.
Comparison to Previous Resource:
In 2011 Resource Mining Corporation (ASX:RMI) released a Mineral
Resource estimate for the Wowo Gap deposit (
https://tinyurl.com/yc6zwjbw ).
Table 2. Wowo Gap 2011 Mineral Resource estimate by
classification at 0.8% Ni cut-off.
2011 Mineral Resource Mt Nickel Cobalt
Estimate at a 0.8% Ni (%) (%)
cut-off
Indicated 72 1.03 0.07
------ --------- ---------
Inferred 53 1.09 0.06
------ --------- ---------
Total 125 1.06 0.07
------ --------- ---------
Contained Metal (kt) 1,325 83
------ --------- ---------
The Mineral Resource estimate in this release has a number of
differences from the 2011 Mineral Resource that have resulted in
changes to the estimated grades and tonnages. The most significant
of those changes include:
o Trimming of margins - The 2011 estimate was reported using a
very wide margin (300 m) on the edge of the drilling area. This
resulted in holes on the edge of the drilling having more influence
than holes in the centre of the drilling. The 2022 model, in
keeping with industry best practice, trims this margin to 150 m or
roughly half the average hole spacing. As there are several higher
grade and thickness holes on the eastern edge of the drilling,
restricting the margin has resulted in a reduction of both tonnes
and grade.
o Better definition of the overburden/volcanic ash - The
previous estimate identified the overburden/volcanic ash solely
based on the drill hole logs. The 2015 drilling gave us confidence
we could use geochemical criteria (high Al2O3 and lower Ni grade)
to objectively define the overburden. The overburden in the 2022
model is more widespread and is less poddy than in the previous
model. This has contributed to the reduction in tonnage but has
minimal impact on grade.
o Regression to the mean - The 2015 GPR and drilling program
focused on an area with higher grades and thickness. As more drill
sampling and GPR data was collected in the area, this area dropped
back toward the mean of the deposit. The area is still "higher"
grade but the drilling and GPR have reduced the extent and the
degree to which it departs from the mean grade and thickness.
o Reporting at a lower cut-off grade - The previous cut-off
grade of 0.8% was based on historic processing and mining
assumptions that emphasized the rocky saprolite portion of the
Resource over the non-rocky limonite and saprolite layers. Lowering
the cut-off grade will impose few assumptions on the Resource and
will allow the mining engineers greater flexibility when it comes
to developing a mine plan and a Reserve estimate.
For detail of exploration drilling results, see the following
Resource Mining Corporation Ltd (ASX:RMI) announcements:
o 8 December 2010. Wowo Gap Project Exploration Program
Highlights
o 3 February 2011. Wowo Gap Project Exploration Program
Highlights
o 23 June 2011. Wowo Gap Project Exploration Program
Highlights
o 30 August 2011. Wowo Gap Project Exploration Program
Highlights
o 4 March 2015. Exploration Update: Wowo Gap Nickel Laterite
Project
o 18 March 2015. Exploration Update: Wowo Gap Nickel Laterite
Project
o 29 April 2015. Wowo Gap exploration intersects high grade
Nickel up to 1m @ 3.51%Ni
o 21 May 2015. Wowo Gap exploration intersects high grade Nickel
up to 3m @ 1.87%Ni
Competent Persons and Qualified Persons Statement:
The information in this report that relates to Mineral Resources
is based on information compiled by Lawrence Queen and Luke Burlet.
Lawrence Queen is an employee of Queen and Associates, and Luke
Burlet is employed by H&S Consultants. Mr Queen is a Member of
the Australasian Institute of Mining and Metallurgy, and Mr Burlet
is a Member of the Australian Institute of Geoscientists. Mr Queen
and Mr Burlet have sufficient experience relevant to the style of
mineralisation and type of deposit under consideration and to the
activity which they are is undertaking to qualify as Competent
Persons as defined in the 2012 Edition of the Australasian Code for
the Reporting of Exploration Results, Mineral Resources and Ore
Reserves (JORC Code) and have sufficient relevant experience to
qualify as a qualified person as defined in the Guidance Note for
Mining, Oil and Gas Companies as published by AIM. Mr Queen and Mr
Burlet have reviewed the information in this announcement and
consent to the disclosure of the information in this report in the
form and context in which it appears.
For further information, please contact:
Scott Kaintz 020 7747 9960 Corcel Plc CEO
James Joyce / Andrew de Andrade 0207 220 1666 WH Ireland Ltd NOMAD & Broker
Simon Woods 0207 3900 230 Vigo Communications IR
The information contained within this announcement is deemed to
constitute inside information as stipulated under the retained EU
law version of the Market Abuse Regulation (EU) No. 596/2014 (the
"UK MAR") which is part of UK law by virtue of the European Union
(Withdrawal) Act 2018. The information is disclosed in accordance
with the Company's obligations under Article 17 of the UK MAR. Upon
the publication of this announcement, this inside information is
now considered to be in the public domain.
Glossary of Technical Terms:
"auger drill" a type of drill which uses a corkscrew type bit to
recover samples from unconsolidated materials;
"block model" Refers to the process of creating a 3D spatial
array of estimations. The parameter that is being estimated may be
the thickness of the ore, the grade of the ore, or some other
property that is useful for the evaluation of the resource. These
estimations are based on a weighted average of the values
associated with the surrounding control points. A variety of
interpolation methods or "algorithms" are available for performing
these estimations. A popular technique is ordinary Kriging;
"bulk density" is the mass per unit volume of a solid, including
the voids in a bulk sample of the material;
"Co" cobalt;
"Competent Person" a 'Competent Person' is a minerals industry
professional who is a Member or Fellow of The Australasian
Institute of Mining and Metallurgy, or of the Australian Institute
of Geoscientists, or of a 'Recognised Professional Organisation'
(RPO), as included in a list available on the JORC and ASX
websites. These organisations have enforceable disciplinary
processes including the powers to suspend or expel a members;
"core recovery" amount of rock recovered when diamond core
drilling usually expressed as a percentage;
"cut-off grade" a grade level below which the material is not of
economic interest and considered to be uneconomical to mine and
process. The minimum grade of mineralisation used to establish
reserves;
"development" often refers to the construction of a new mine or;
Is the underground work carried out for the purpose of reaching and
opening up a mineral deposit includes shaft sinking, cross-cutting,
drifting and raising;
"diamond drillhole" a drillhole which is drilled used a diamond
impregnated bit so that a cylindrical sample of solid rock (drill
core) can be recovered;
"Ground Penetrating Radar" a geophysical method that uses radar
pulses to image the subsurface;
"Indicated Resource" that part of a Mineral Resource for which
quantity, grade or quality, densities, shape and physical
characteristics, can be estimated with a level of confidence
sufficient to allow the appropriate application of technical and
economic parameters, to support mine planning and evaluation of the
economic viability of the deposit. The estimate is based on
detailed and reliable exploration and testing information gathered
through appropriate techniques from locations such as outcrops,
trenches, pits, workings and drill holes that are spaced closely
enough for geological and grade continuity to be reasonably
assumed;
"Inferred Resource" that part of a Mineral Resource for which
quantity and grade or quality can be estimated on the basis of
geological evidence and limited sampling and reasonably assumed,
but not verified, geological and grade continuity. The estimate is
based on limited information and sampling gathered through
appropriate techniques from locations such as outcrops, trenches,
pits, workings and drill holes;
"JORC" the Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves, as published by the
Joint Ore Reserves Committee of The Australasian Institute of
Mining and Metallurgy, Australian Institute of Geoscientists and
Minerals Council of Australia;
"JORC (2012)" the 2012 edition of the JORC code;
"laterite" a laterite is a residual soil rich in iron and
aluminum hydroxides which develops in a humid tropical climate.
Where these soils are enriched in nickel they are referred to as a
nickel laterite;
"lithology" the lithology of a rock unit is a description of its
physical characteristics visible at outcrop, in hand or core
samples or with low magnification microscopy, such as colour,
texture, grain size, or composition;
"m" metre;
"Mineral Resource" a concentration or occurrence of material of
economic interest in or on the earth's crust in such form and
quantity that there are reasonable and realistic prospects for
eventual economic extraction. The location, quantity, grade,
continuity, and other geological characteristics of a Mineral
Resource are known, estimated from specific geological evidence and
knowledge, or interpreted from a well-constrained and portrayed
geological model;
"Ni" nickel;
"open pit" a mine that is entirely on the surface. Also referred
to as open-cut or opencast mine;
"overburden" material of any nature, consolidated or
unconsolidated, that overlies a deposit of ore that is to be
mined;
"oxidation" a chemical reaction in which substances combine with
oxygen for form an oxide. For example, the combination of iron with
oxygen to form an iron oxide (rust) or copper and oxygen produce
copper oxide; the green coating on old pennies. The opposite of
oxidation is reduction.
"QAQC" Quality assurance and Quality control of the geological
sample database;
"Reverse Circulation- RC drilling" A percussion drilling
technique that produces chip samples that are removed from the
drillhole by compressed air pushing the sample up the inside of the
drill rods. Considered superior to aircore drilling; generating
better quality samples
"strike length" the horizontal distance along the long axis of a
structural surface, rock unit, mineral deposit or geochemical
anomaly;
"t" tonnes;
"variogram" a function of the distance and direction separating
two locations that is used to quantify dependence. The variogram is
defined as the variance of the difference between two variables at
two locations. The variogram generally increases with distance and
is described by nugget, sill, and range parameters. If the data is
stationary, then the variogram and the covariance are theoretically
related to each other.
"variogram model" a model that is the sum of two or more
component models, such as nugget, spherical, etc. Adding a nugget
component to one of the other models is the most common nested
model, but more complex combinations are occasionally used;
"wacker" a semi-mechanised deep overburden soil sampling method
commonly used in PNG;
"weathering" disintegration or alteration of rock in its natural
or original position at or near the Earth's surface through
physical, chemical, and biological processes induced or modified by
wind, water, and climate.
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 (eg cut channels, * All the samples used in this Mineral Resource
random chips, or specific specialised industry Estimate are from drill core. The core was obtained
standard measurement tools appropriate to the over three main drill campaigns.
minerals under investigation, such as down hole gamma
sondes, or handheld XRF instruments, etc). These
examples should not be taken as limiting the broad o Wacker drilling - 153 holes totaling 731 m. 3 cm
meaning of sampling. diameter core- (nominal AQ). Only tested
the non-rocky laterite.
o Diamond core- (2003-2008 and 2014-201 5)161 holes
* Include reference to measures taken to ensure sample totaling 3174.2 m. HQ or NQ core.
representivity and the appropriate calibration of any o Tungsten carbide coring (2010-2011)- 297 holes totaling
measurement tools or systems used. 1745.8 m. Only tested the non-rocky
laterite.
o Auger core (2014-2015)- 125 holes totaling 944.5 m. Only
* Aspects of the determination of mineralisation that tested the non-rocky laterite.
are Material to the Public Report. * The drill methods were chosen to provide a sample of
the friable laterite that was relatively undisturbed
.
* In cases where 'industry standard' work has been done
this would be relatively simple (eg 'reverse
circulation drilling was used to obtain 1 m samples
from which 3 kg was pulverised to produce a 30 g
charge for 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 (eg
submarine nodules) may warrant disclosure of detailed
information.
============================================================
Drilling
techniques * Drill type (eg core, reverse circulation, open-hole * This Mineral Resource Estimate is based on results
hammer, rotary air blast, auger, Bangka, sonic, etc) diamond core drilling (2003 - 2008), tungsten
and details (eg core diameter, triple or standard carbide-tipped core drilling (2010-2011), and
tube, depth of diamond tails, face-sampling bit or (2014-2015) diamond core and custom auger core
other type, whether core is oriented and if so, by drilling. All holes are vertical.
what method, etc).
Drill sample
recovery * Method of recording and assessing core and chip * As the core is recovered from the triple tube (NQ3),
sample recoveries and results assessed. core recoveries are typically very good. The
recoveries were logged and recorded in the database.
* Measures taken to maximise sample recovery and ensure
representative nature of the samples. * Core is recovered from the triple tube (NQ3) drilling
to ensure good recovery.
* Whether a relationship exists between sample recovery
and grade and whether sample bias may have occurred * Overall recoveries are>90% and there are no
due to preferential loss/gain of fine/coarse significant sample recovery problems.
material.
============================================================
Logging
* Whether core and chip samples have been geologically * Logging of the core recorded lithology, mineralogy,
and geotechnically logged to a level of detail to weathering, colour and other features of the samples.
support appropriate Mineral Resource estimation, The core from each core run were placed in plastic
mining studies and metallurgical studies. core trays for logging and photographed, then
sampled.
* Whether logging is qualitative or quantitative in
nature. Core (or costean, channel, etc) photography. Geotechnical logging was not conducted for mineralization purposes as
there is no structural
control to the mineralization.
* The total length and percentage of the relevant * The logging is both qualitative and quantitative in
intersections logged. nature including records of lithology, (ore layer
type), mineralogy, textures, oxidation state and
colour. Visual estimates of percentages of key
minerals associated with nickel mineralization and
their appearance and percent volume of rock in
diamond core samples of the rocky saprolite. All core
was photographed. 31 pits were also dug and sampled
as supporting evidence but not used in the Resource
estimation.
* All holes drilled were logged.
Sub-sampling
techniques * If core, whether cut or sawn and whether quarter, * Core samples were collected from half core, on
and sample half or all core taken. typical 1 metre lengths through the laterite profile.
preparation
* If non-core, whether riffled, tube sampled, rotary * No non-core samples were taken.
split, etc and whether sampled wet or dry.
* The samples were submitted to Intertek Laboratory in
* For all sample types, the nature, quality, and Lae, Papua New Guinea (PNG) for preparation. All
appropriateness of the sample preparation technique. samples received were weighed and wet weight recorded,
then dried at 105degC for at least 16 hours. Samples
were then crushed with 95% passing -2 mm. Crushed
* Quality control procedures adopted for all samples were then riffle split, with a split taken
sub-sampling stages to maximise representivity of for fine pulverising to 95% passing -200 m, with the
samples. remainder retained as coarse residue. For samples of
less than 1.5 kg, no coarse residue was retained. The
pulverised (pulp) samples were forwarded to Intertek
* Measures taken to ensure that the sampling is Laboratory in Jakarta, Indonesia for assay of Ni, Co,
representative of the in situ material collected, Al(2) O(3) , CaO, Cr(2) O(3) , Fe(2) O(3) , K(2) O,
including for instance results for field LOI, MgO, MnO, Na(2) O, P(2) O(5) , SiO(2) and LOI by
duplicate/second-half sampling. fusion XRF. The sample preparation technique is
considered
* Whether sample sizes are appropriate to the grain
size of the material being sampled. appropriate for the style of mineralisation under consideration.
* Certified reference materials were used at a rate of
1 standard per 20 samples and a field duplicate is
collected from the unsampled half core for every
second hole.
* The bulk of the laterite is made of silt to clay size
particle so sample size is appropriate for the
granularity of the sampled target mineral.
============================================================
Quality of
assay data * The nature, quality and appropriateness of the * The core samples were sent to Intertek in Lae for
and assaying and laboratory procedures used and whether sample preparation, with the pulps being sent to
laboratory the technique is considered partial or total. Intertek Jakarta for fusion XRF analysis for Ni, Co,
tests Al(2) O(3) , CaO, Cr(2) O(3) , Fe(2) O(3) , K(2) O,
LOI, MgO, MnO, Na(2) O, P(2) O(5) , SiO(2) and LOI.
* For geophysical tools, spectrometers, handheld XRF This method is considered a total assay.
instruments, etc, the parameters used in determining
the analysis including instrument make and model,
reading times, calibrations factors applied and their * No portable XRF machines were used to determine any
derivation, etc. element concentrations used in the grade
determinations.
* Nature of quality control procedures adopted (eg
standards, blanks, duplicates, external laboratory * Sample preparation checks for fineness were carried
checks) and whether acceptable levels of accuracy (ie out by the laboratory as part of their internal
lack of bias) and precision have been established. procedures to ensure the grind size of 85% passing 75
micron was being attained.
* Laboratory QAQC involves the use of internal lab
standards using certified reference material, blanks,
splits, and replicates as part of the in-house
procedures.
* Certified reference materials were used in the
2014-2015 drilling program, with a certified standard
added to every second hole.
* Field duplicate samples were submitted from alternate
holes.
Verification
of sampling * The verification of significant intersections by * No verification was carried out.
and assaying either independent or alternative company personnel.
* In 2010 - 2011, a second twin hole was drilled within
* The use of twinned holes. one metre of the original hole for every fourth or
fifth hole drilled. These samples were sent to
Ultratrace Laboratories for fusion XRF analysis.
* Documentation of primary data, data entry procedures, Comparison of the twin hole data was used to estimate
data verification, data storage (physical and short range variance (0.52).
electronic) protocols.
* Logging data was collected using a set of standard
* Discuss any adjustment to assay data. paper logging sheets which were entered into
Maxwell's Logchief logging software.
* The information was sent to Mr M Hill in the Perth
office for validation and forwarded to Maxwell's for
importing into the Datashed Database.
* There was no adjustment to any assay data.
============================================================
Location of
data points * Accuracy and quality of surveys used to locate drill * Diamond holes from both the 2003 - 2004 and 2007
holes (collar and down-hole surveys), trenches, mine drilling programs were surveyed by Arman Larmer
workings and other locations used in Mineral Resource Surveys Ltd Consulting Surveyors (PNG) using a Wild
estimation. 805 Total Station, traversing from survey control
stations which were located using an Omnistar DGPS
with a reported accuracy of +/- 0.1 metres.
* Specification of the grid system used.
Drill holes in 2008, 2010, 2011 and 2014 were surveyed by a handheld
* Quality and adequacy of topographic control. GPS. Horizontal accuracy
is estimated to be +/- 5 meters.
* All spatial data is recorded in AMG84, zone 55
* Topographic control is based on a digital elevation
model derived from a LiDAR survey flown by Digital
Mapping Australia Pty Ltd (DiMap) in April 2007.
Data spacing
and * Data spacing for reporting of Exploration Results. * Nominal drilling spacing for most of the area is 300
distribution metres x 200 metres.
* Whether the data spacing and distribution is
sufficient to establish the degree of geological and For the areas covered by the 2014-2015 drilling the nominal drill hole
grade continuity appropriate for the Mineral Resource spacing is 200 metres
and Ore Reserve estimation procedure(s) and on 100 metres spaced east - west lines.
classifications applied. * Each of the laterite layers shows low variability and
long range (100s of metres) continuity of the
economically important elements (Ni & Co). The data
* Whether sample compositing has been applied. spacing and distribution is sufficient to demonstrate
spatial and grade continuity of the mineralized
horizons to support the definition of
Inferred/Indicated Mineral Resources under the 2012
JORC code
* Samples were composited based on mineralization type
(Overburden/Volcanic Ash, Limonite, non-rocky
Saprolite, and Rocky Saprolite)
============================================================
Orientation
of data in * Whether the orientation of sampling achieves unbiased * Lateritic nickel mineralisation develops broadly
relation to sampling of possible structures and the extent to parallel to the topographic surface and vertical
geological which this is known, considering the deposit type. drilling orientation is generally unbiased.
structure
* If the relationship between the drilling orientation * No sampling bias from drillhole orientation is
and the orientation of key mineralised structures is expected. The drillholes are vertical, with
considered to have introduced a sampling bias, this mineralisation generally horizontal and not obviously
should be assessed and reported if material. related to structure.
Sample
security * The measures taken to ensure sample security. * Chain of custody was managed by RMC. Samples were
stored on site and delivered to an independent
transport company in Port Moresby, PNG which
delivered them to the assay laboratory in Lae, PNG
the following day.
============================================================
Audits or
reviews * The results of any audits or reviews of sampling * An independent due diligence study of the exploration
techniques and data. procedures used on the Wowo Gap nickel laterite
project was carried out by Robin Rankin of GeoRes in
April 2011. This review concluded the work by Niugini
Nickle was well founded and completely applicable to
good exploration of a nickel laterite type deposit.
* In 2015 Torridon Exploration carried out an
independent audit of the 2014-2015 drilling program.
The review found the exploration drilling program was
appropriate for a nickel laterite deposit and
conformed to accepted industry practice.
============= ============================================================ ============================================================================
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 * Type, reference name/number, location and ownership * The Wowo Gap nickel laterite project is located near
land tenure including agreements or material issues with third Embessa in the Oro Province of Papua New Guinea. The
status parties such as joint ventures, partnerships, project is contained within EL 1165, which is owned
overriding royalties, native title interests, by Niugini Nickel Limited, a wholly owned subsidiary
historical sites, wilderness or national park and of Corcel Plc, a UK company listed on the Alternative
environmental settings. Investment Market of the London Stock Exchange.
Royalties payable on gross revenues are expected to
be 1% PNG government. There are no native title,
* The security of the tenure held at the time of historical, national park, or other impediments.
reporting along with any known impediments to
obtaining a licence to operate in the area.
* The tenement is currently in good standing pending
renewal.
Exploration
done by other * Acknowledgment and appraisal of exploration by other * Nickel laterite mineralization in the area around
parties parties. Wowo Gap was first reported by the BMR in 1958. Auger
samples of breccia assayed up 1.3% Ni,
Geology The Wowo Gap mineralization is a wet tropical nickel
* Deposit type, geological setting, and style of laterite. In the project area an east
mineralisation. dipping lateritic profile has developed over the
underlying ultramafics. The complete lateritic
profile is preserved, with partial truncation associated
with recent drainage systems. The
depth of weathering varies according to rock type and
the degree of brecciation. The lateritic
profile is typically 10 to 15 metres thick, occasionally
more than 30 metres above the Sivai
Breccia.
The laterite profile is typically 10m to 18m thick and
composed of an upper iron-rich saprolite
horizon (referred to as limonite) with high a (>40%) to
very high (>60%) Fe(2) O(3) content
but relatively low (<6%) MgO. It is the limonite horizon
that contains enriched levels of
cobalt, chromium and manganese values. Beneath the
limonite is MgO-rich (>6 - 40%) earthy
saprolite (referred to as saprolite) horizon with
relatively low (<40%) Fe(2) O(3) content.
Below this in the regolith profile is the rocky
saprolite (saprock), clearly identifiable
because of corestones of partially weathered ultramafic
bedrock.
Drill hole
Information * A summary of all information material to the * All the drill holes used for this Resource estimate
understanding of the exploration results including a were completed prior to the end of 2015. Details for
tabulation of the following information for all those holes were reported in ASX announcements that
Material drill holes: can be found on the Resource Mining Corporation
website
(https://resmin.com.au/investor-centre/asx-announceme
o easting and northing of the drill hole collar nts/)
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 * In reporting Exploration Results, weighting averaging * Only Mineral Resources are being reported. As no
methods techniques, maximum and/or minimum grade truncations exploration results are being reported, this section
(eg cutting of high grades) and cut-off grades are is not considered applicable.
usually Material and should be stated.
* Where aggregate intercepts incorporate short lengths
of high grade results and longer lengths of low grade
results, the procedure used for such aggregation
should be stated and some typical examples of such
aggregations should be shown in detail.
* The assumptions used for any reporting of metal
equivalent values should be clearly stated.
Relationship
between * These relationships are particularly important in the * Only Mineral Resources are being reported. As no
mineralisation reporting of Exploration Results. exploration results are being reported, this section
widths and is not considered applicable.
intercept
lengths * 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 * Only Mineral Resources are being reported. As no
tabulations of intercepts should be included for any exploration results are being reported, this section
significant discovery being reported These should is not considered applicable.
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 * Only Mineral Resources are being reported. As no
Results is not practicable, representative reporting exploration results are being reported, this section
of both low and high grades and/or widths should be is not considered applicable.
practiced to avoid misleading reporting of
Exploration Results.
Other
substantive * Other exploration data, if meaningful and material, * Only Mineral Resources are being reported. As no
exploration should be reported including (but not limited to): exploration results are being reported, this section
data geological observations; geophysical survey results; is not considered applicable.
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.
Further work
* The nature and scale of planned further work (eg * The portion of the Mineral Resource corresponding to
tests for lateral extensions or depth extensions or the area of the 2014 GPR cover meets many but not all
large-scale step-out drilling). of the criteria to be classified as Measured. Some
additional drilling, bulk density sampling, further
QAQC work and further resource modelling subdividing
* Diagrams clearly highlighting the areas of possible the laterite into limonite and saprolite layers may
extensions, including the main geological be sufficient to allow this portion of the Resource
interpretations and future drilling areas, provided to be reclassified
this information is not commercially sensitive.
=============== =============================================================== ============================================================
Section 3 Estimation and Reporting of Mineral Resources
(Criteria listed in section 1, and where relevant in section 2,
also apply to this section.)
Criteria JORC Code explanation Commentary
Database
integrity * Measures taken to ensure that data has not been * Logging data was collected using a set of standard
corrupted by, for example, transcription or keying paper logging sheets which were entered into
errors, between its initial collection and its use Maxwell's Logchief logging software.
for Mineral Resource estimation purposes.
* The information was sent to Mr M Hill in the Perth
* Data validation procedures used. office for validation and forwarded to Maxwell's for
importing into the Datashed Database.
* The WoWo drilling data was provided in a Microsoft
Access database. Ground Penetrating Radar (GPR)
surveys (2007 and 2014) and topographic data (LiDAR)
were provided in CSV format.
* A range of basic checks were performed by H&SC prior
to the resource estimates to ensure data consistency,
including, but not limited to, checks for From-To
interval errors, missing or duplicate collar surveys,
excessive down hole deviation, and extreme or unusual
assay values.
* A range of drilling methods have been used at WoWo
and incorporated into the resource modelling:
Hole Type total Year_min Year_max
(m)
pit 253 1971 2004
diamond 3,174 1972 2015
drill Hole
wacker 731 1999 2008
auger 2,901 2010 2015
* Independent consultant Larry Queen conducted a review
of the various drilling and sample types to confirm
that they are suitable to form the basis of the
Mineral Resource Estimates (MREs).
Site visits
* Comment on any site visits undertaken by the * No site visits have been made by the Competent
Competent Person and the outcome of those visits. Persons for this report as until recently, access to
the area has been impossible due to COVID19 travel
restrictions. However, Mr. Queen has over 30 years of
* If no site visits have been undertaken indicate why experience in PNG and has served as Competent Person
this is the case. for the similar Ramu Nickel Laterite and the Sewa Bay
Nickel Laterite. Mr Queen has reviewed all the
documentation from the previous work and is confident
Wowo Gap is broadly similar to other tropical
laterites in PNG.
Geological
interpretation * Confidence in (or conversely, the uncertainty of ) * The grade and lithological interpretation forms the
the geological interpretation of the mineral deposit. basis for the modelling. Grades have all been
estimated constrained within the lateritic layers
(rock types).
* Nature of the data used and of any assumptions made.
* Based on experience at other nickel laterites in PNG
* The effect, if any, of alternative interpretations on and the drill log and geochemical interpretation
Mineral Resource estimation. there is strong confidence in the geological
interpretation of the lateritic layers (rock types)
of the deposit. The upper layers, especially the
* The use of geology in guiding and controlling Mineral limonite layer, are usually continuous, with the
Resource estimation. absence of the limonite layer always due to erosion
especially around the incised streams. The grades
including cobalt, are usually continuous and show
* The factors affecting continuity both of grade and little lateral variability.
geology.
* Core recording, sample analysis and ground
penetrating radar (GPR) were applied to interpret the
geological domains of deposit. The
overburden/limonite boundary was created using grade
composites based on aluminium and nickel percentage.
Samples with greater than 20% Al(2) O(3) were
classified limonite. GPR data was used to define of
the bottom of limonite/saprolite top of rocky
saprolite.
* The Wowo Gap deposit has been the subject of several
previous resource estimates, the most recent dated
December 2011 (
https://resmin.com.au/wp-content/uploads/docs/asx_announcements/2011/20111214%20Wowo%20
Gap%20Resource%20Upgrade.pdf
). All the resource models have been similar (i.e.
the laterite occurs as a layer-cake like deposit that
drapes over the topography.) and vary mostly in the
amount of supporting data (drill holes and GPR)
* The GPR data was used to interpret and define a
bottom of Limonite-non rocky Saprolite and a bottom
of rocky Saprolite surface. In the stream incised
areas where there was little, or no GPR data low
laterite thicknesses were used as defaults. This was
done as it was assumed the laterite profile would be
largely removed along the streams.
* The logged lithology and the geochemistry was also
used to define the zone of Quaternary overburden
(mainly volcanic ash, "Qva"), the logged zone of
limonite-non rocky saprolite and rocky saprolite.
* The Qva zone was used to define the bottom of
overburden. Thus three geological zones/layers were
defined, overburden (Qva), limonite-non rocky
saprolite and rocky saprolite which in turn were used
to guide and control the mineral resource estimate.
* The interpreted overburden/Qva thickness ranges
between 0 and 10m and averages 0.5m, the limonite-non
rocky saprolite between 0 and 23m and averages 3m,
and the rocky saprolite between 0 and 20m and
averages 3.8m
Dimensions
* The extent and variability of the Mineral Resource * The drilled laterite covers an area of 8700 metres
expressed as length (along strike or otherwise), plan N-S by 3300 to 4000 meters E-S. The average thickness
width, and depth below surface to the upper and lower of the laterite above the rocky saprolite is roughly
limits of the Mineral Resource. 7 metres with maximum thickness of 19 metres
Estimation and
modelling * The nature and appropriateness of the estimation * Nickel and cobalt grades were estimated with using
techniques technique(s) applied and key assumptions, including the ordinary kriging (OK) estimation technique in
treatment of extreme grade values, domaining, Micromine software. Samples from each hole were used
interpolation parameters and maximum distance of and composited to the full width of the layer, making
extrapolation from data points. If a computer 1 composite per layer for each of the three layer;
assisted estimation method was chosen include a the mineralised domains were limited to the three
description of computer software and parameters used. interpreted geological layers as noted above. The
grade distributions for nickel and cobalt are not
strongly skewed so OK was an appropriate estimation
* The availability of check estimates, previous method; there are no extreme values requiring grade
estimates and/or mine production records and whether cutting. The three layers were estimated separately,
the Mineral Resource estimate takes appropriate i.e., with hard boundaries. A two pass search
account of such data. strategy was used for OK estimation:
axis axis axis min min
* The assumptions made regarding recovery of Search 1 2 3 max samples total hole
by-products. radians radians radians
(m) (m) (m) per quadrant samples count
------- ------- ------- ------------ ------- -----
* Estimation of deleterious elements or other non-grade 1 40 1000 1000 6 4 4
variables of economic significance (eg sulphur for ------- ------- ------- ------------ ------- -----
acid mine drainage characterisation). 2 40 1200 1200 6 4 4
------- ------- ------- ------------ ------- -----
* In the case of block model interpolation, the block
size in relation to * The block model was setup as a 'grade thickness
model' where both grade and thickness are estimated
for each of the 3 layers. Due to the steep and widely
* the average sample spacing and the search employed. undulating terrain, the block model and input grade
and thickness data from drilled was 'flattened' to a
common dummy RL. This allowed a common search
* Any assumptions behind modelling of selective mining orientation to be used during the OK estimation
units. routine.
* Any assumptions about correlation between variables. * The orientation of the search ellipsoid and variogram
models was isotropic in the horizontal plane of the
flattened block model.
* Description of how the geological interpretation was
used to control the resource estimates.
* The maximum extrapolation distance would be close to
the maximum search radii of 900m.
* Discussion of basis for using or not using grade
cutting or capping.
* There is a previous estimate (Ravensgate, 2011) that
is broadly compatible with the current MREs, but
* The process of validation, the checking process used, substantial differences in the interpretation and
the comparison of model data to drill hole data, and modelling of mineralisation, as well as additional
use of reconciliation data if available. drilling and more extensive and more detailed GPR
technique, make detailed comparisons to the 2011 MRE
meaningless. The current MREs take appropriate
account of previous estimates, while acknowledging
substantial differences in methodology and data. H&SC
also ran a non-grade thickness model, still using OK,
but with set block heights and on a block fraction
basis. This block definition is more common in gold
or base metal models. The overall results of the
check model were closely comparable and gives
confidence in the grade- thickness methodology.
* The deposits remain unmined so there are no
production records for comparison.
* Only nickel and cobalt were estimated, so no
potential by-products or deleterious elements were
assessed; consequently, no assumptions are made
regarding the correlation of variables.
* Dry bulk density was assigned by geological layer
zone, based on average values for available
measurements quoted by Ravensgate (2011)
* The block size for the model is a constant 10x10 in
Easting and Northing with a variable block height for
each of the 3 geological layers. In this way the
block model is three blocks high at each 10x10 cell.
A 10x10 cell size was chosen as this considers the
steep and undulating terrain, thus largely avoiding
the need for block proportions or sub-blocking.
* The new model was validated in several ways - visual
comparison of block and drill hole grades,
statistical analysis (summary statistics),
examination of grade-tonnage data, and comparison
with previous estimates and the check model.
* Average estimated grades are lower than average
composite grades, reflecting clustering in the drill
hole data and slightly skewed grade distributions.
* All the validation checks suggest that the grade
estimates are reasonable when compared to the
composite grades, allowing for data clustering.
Moisture
* Whether the tonnages are estimated on a dry basis or * All tonnes reported in the Mineral Resource are
with natural moisture, and the method of
determination of the moisture content.
estimated on a dry basis.
The moisture and dry bulk density were measured using a cylinder of core. The volume of
the
sample was determined by measuring the length and diameter of the sample. The wet sample
is
weighed first, the sample is then dried in a drying oven under a constant temperature of
105degC,
and then the dry weight is determined. Moisture is given by (Wet Weight - Dry Weight)/Wet
Weight). The average moisture content was 39%
Cut-off
parameters * The basis of the adopted cut-off grade(s) or quality * A nominal cut-off grade of 0.7% Ni has been applied,
parameters applied. based on similar open-pit operations.
Mining factors
or assumptions * Assumptions made regarding possible mining methods, * The large, relatively flat and shallow nature of this
minimum mining dimensions and internal (or, if type of deposit dictates any mining would be by open
applicable, external) mining dilution. It is always pit methods. It has been assumed that the full strike
necessary as part of the process of determining length, width and depth of the modelled
reasonable prospects for eventual economic extraction mineralisation above the 0.7% Ni cut-off can be
to consider potential mining methods, but the economically mined.
assumptions made regarding mining methods and
parameters when estimating Mineral Resources may not
always be rigorous. Where this is the case, this
should be reported with an explanation of the basis
of the mining assumptions made.
Metallurgical
factors or * The basis for assumptions or predictions regarding * Some information relating to nickel recovery from the
assumptions metallurgical amenability. It is always necessary as 'saprolite',
part of the process of determining reasonable
prospects for eventual economic extraction to
consider potential metallurgical methods, but the material is known as some of this material has been processed and undergone preliminary
assumptions regarding metallurgical treatment test
processes and parameters made when reporting Mineral work. Similar test work is required to be carried out for each of the project areas. At
Resources may not always be rigorous. Where this is this
the case, this should be reported with an explanation stage of the project no overall recoveries have been assumed for all the Wowo Gap Project
of the basis of the metallurgical assumptions made. Area deposits.
* For resource modelling no assumptions were made about
process methods or nickel recovery.
Environmen-tal
factors or * Assumptions made regarding possible waste and process * The current proposal is to produce a bulk product
assumptions residue disposal options. It is always necessary as suitable for smelting that will be transported
part of the process of determining reasonable offsite for processing. It has
prospects for eventual economic extraction to
consider the potential environmental impacts of the
mining and processing operation. While at this stage been assumed that mine waste will be relatively low in total volume and comprise the 1 m
the determination of potential environmental impacts, to
particularly for a greenfields project, may not 5 m soil and volcanic ash overburden layer. This material is likely to be used for
always be well advanced, the status of early rehabilitation
consideration of these potential environmental purposes after mining is complete. Low-grade material, mostly limonitic in composition,
impacts should be reported. Where these aspects have may
not been considered this should be reported with an be stockpiled, in mined-out areas.
explanation of the environmental assumptions made.
Bulk density
* Whether assumed or determined. If assumed, the basis * Density data was adopted from the Ravensgate 2011
for the assumptions. If determined, the method used, report as it appears this is the only source of
whether wet or dry, the frequency of the measurements determined density information. In their report they
, indicate the representative and preferred in-situ
the nature, size and representativeness of the bulk density for resource modelling is 1.0 t/m3 for
samples. the "clay profile" (limonite-saprolite layer), and
2,0 t/m3 for the rocky Saprolite profile. Queen &
H&SC have, based on their experience, used an assumed
* The bulk density for bulk material must have been default density 0.9 t/m3 for the volcanic ash. This
measured by methods that adequately account for void assumed density is unlikely to have a large impact on
spaces (vugs, porosity, etc), moisture and the overall MRE tonnage as the volcanic ash layer has
differences between rock and alteration zones within less overall volume compared to the other layers and
the deposit. does not contribute tonnage at cut-off grades above
about 0.7% Ni.
* Discuss assumptions for bulk density estimates used
in the evaluation process of the different materials.
Classification
* The basis for the classification of the Mineral * Resource classification is based on both the overall
Resources into varying confidence categories. footprint of the GPR coverage and drilling. A polygon
that encompasses this was used to flag the block
model as follows:
* Whether appropriate account has been taken of all
relevant factors (ie relative confidence in
tonnage/grade estimations, reliability of input data, * any Qva or Limonite-Saprolite blocks within it are
confidence in continuity of geology and metal values, classified as Indicated.
quality, quantity and distribution of the data).
* Rocky saprolite blocks classified as Inferred
* Whether the result appropriately reflects the regardless of the polygon.
Competent Person's view of the deposit.
* any blocks outside of classification polygon are
Inferred
* This classification scheme is considered to take
appropriate account of all relevant factors,
including the relative confidence in tonnage and
grade estimates, confidence in the continuity of
geology and metal values, and the quality, quantity
and distribution of the drilling and GPR data
* The classification appropriately reflects the
Competent Person's view of the deposit.
Audits or
reviews * The results of any audits or reviews of Mineral * The current model has not been audited by an
Resource estimates. independent third party
* This Mineral Resource estimate has been reviewed by
Queen and H&SC personnel and the resource report was
internally peer reviewed by H&SC. No material issues
were identified because of these reviews.
Discussion of
relative * Where appropriate a statement of the relative * The relative accuracy and confidence level in the
accuracy/ accuracy and confidence level in the Mineral Resource Mineral Resource estimates are in line with the
confidence estimate using an approach or procedure deemed generally accepted accuracy and confidence of the
appropriate by the Competent Person. For example, the nominated JORC Mineral Resource categories. This has
application of statistical or geostatistical been determined on a qualitative, rather than
procedures to quantify the relative accuracy of the quantitative, basis, and is based on the estimator's
resource within stated confidence limits, or, if such experience with similar deposits elsewhere. The main
an approach is not deemed appropriate, a qualitative factors that affect the relative accuracy and
discussion of the factors that could affect the confidence of the estimate are the drill hole spacing,
relative accuracy and confidence of the estimate. the style of mineralisation and bulk density
measurements.
* The statement should specify whether it relates to
global or local estimates, and, if local, state the * The estimates are local, in the sense that they are
relevant tonnages, which should be relevant to localised to model blocks of a size considered
technical and economic evaluation. Documentation appropriate for local grade estimation. The tonnages
should include assumptions made and the procedures relevant to technical and economic analysis are those
used. classified as Indicated Mineral Resources.
* These statements of relative accuracy and confidence * This deposit remains unmined so there are no
of the estimate should be compared with production production records for comparison.
data, where available.
=============== ============================================================ ==============================================================================================
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