Phoenix Copper Ltd.: Oberflächennahe, hochgradige Zink-Gold-Silber-Mineralisierung bei Mount Bonnie

Oberflächennahe, hochgradige Zink-, Gold- und Silbersulfidmineralisierung

Das Ende Mai fertiggestellte Bohrprogramm umfasste zwölf RC-Löcher mit 1.114 Bohrmeter und hatte die Entdeckung von neuen Mineralisierungsstandorten sowie Erweiterungen der bestehenden Massivsulfidmineralisierung bei Mount Bonnie zum Ziel (Abbildung 1 und Tabelle 1).

Die Löcher MBRC013, MBRC014 und MBRC015 wurden direkt neben und unterhalb der historischen Tagebaustätte (wo nach Entdeckung von Sulfiden der frühere Bergbaubetrieb stillgelegt wurde) gebohrt und sollten eine große Informationslücke zwischen der Basis des Tagebaubetriebs und den am nächsten gelegenen Bohrlöchern schließen. Alle drei Löcher konnten eine oberflächennahe, hochgradige Massivsulfidmineralisierung durchteufen (Tabelle 2).

Der beste Abschnitt, der bisher im Bereich der Lagerstätte durchteuft wurde, stammte aus Loch MBRC014. Dieser Abschnitt umfasste 8 m mit einem Erzgehalt von 12,3 % Zn, 2,41 g/t Au, 321 g/t Ag, 0,5 % Cu und 2,5 % Pb und war in einem breiteren Abschnitt von 89 m enthalten. Vereinzelt wurden Erzgehalte von bis zu 16,1 % Zn, 611 g/t Ag und 4,66 % Pb ermittelt, die sich in einem 1 m-Abschnitt innerhalb eines 90 m breiten Bereichs befanden. Es konnte somit bestätigt werden, dass die Lagerstätte hochwertig ist und hohe Erzgehalte aufweist. Zudem ist die Mineralisierung in Loch MBRC014 mächtiger und hat einen höheren Erzgehalt als ein historisches Bohrloch im näheren Umfeld; auch ist die Massivsulfidlinse in der Tiefe offen und bietet damit bedeutendes Potenzial für eine weitere Mineralisierung (Abbildung 2).

Tabelle 1: Einzelheiten zu den Bohrlöchern bei Mount Bonnie
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Tabelle 2: Wichtige Durchschneidungen bei Mount Bonnie
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Hinweis: Die bedeutenden Abschnitte in der vorstehenden Tabelle haben einen Erzgehalt von > 0,7 g/t Goldäquivalent und eine Mächtigkeit von > 1m, die hochgradigen bedeutenden Abschnitte haben einen Erzgehalt von >= 6 g/t AuEq. Bei der Berechnung des Goldäquivalentgehalts wurden die metallurgische Ausbeute und die Metallpreise herangezogen. Weitere Einzelheiten siehe JORC Code, Ausgabe 2012 - Tabelle 1, Abschnitt 2 auf der Rückseite dieser Meldung.
* Abschnitt 60 - 61 m: keine Probe aus Loch MBRC015 gewonnen--
 
Diese Analyseergebnisse aus den ersten drei bei Mount Bonnie gebohrten Löchern sind sehr vielversprechend, da sich die durchteufte Mineralisierung jenseits der Abgrenzung, die im Rahmen früherer Bohrungen definiert wurde, befindet. Der Gesamterzgehalt und die Art der Mineralisierung, die typischerweise als Massivsulfidmineralisierung mit bedeutenden Sphalerit-, Bleiglanz- und Pyrrhotinanteilen eingebettet in eine mächtigere Einheit aus versprengten Sulfiden auftritt, ist der Mineralisierung der Ressourcen bei Iron Blow sehr ähnlich (Tabelle 3); letztere liegt in weniger als 3 km Entfernung in nordwestlicher Richtung (Abbildung 3). Dieses erste Bohrprogramm bei Mount Bonnie wird daher zu einer Steigerung des Wertes und der Prospektivität des Projekt Hayes Creek als Ganzes beitragen.

Noch ausstehende Ergebnisse

Die Analyseergebnisse aus neun der zwölf während des Programms gebohrten Löcher (Abbildung 1) stehen noch aus. In diesen Löchern wurde untersucht, ob eine Erweiterung nördlich des bestehenden Tagebaubetriebs und entsprechendes Gold-Silberoxidpotenzial entlang des Streichens der Abbaustätte selbst vorhanden sind. Was diese übrigen Löcher betrifft, wurde in vier eine Massivsulfidmineralisierung durchteuft, vier endeten in der Oxidalterierungszone und eines erreichte seine Zieltiefe aufgrund von übermässigem Wassereintritt nicht. Die Ergebnisse zu diesen Löchern sollten vor Ende Juni vorliegen und bilden einen wesentlichen Bestandteil der ersten Ressourcenschätzung für Mount Bonnie, die im weiteren Jahresverlauf erstellt werden soll.
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Abbildung 1: Mount Bonnie - nur Analyseergebnisse für Zink und Gold sind angeführt (siehe Tabelle 2). Gelbe Löcher wurden von Phoenix Copper gebohrt, schwarze Löcher sind frühere Bohrungen. Rote Wireframes stellen Konduktivkörper dar, die blau-gestrichelte Linie weist auf die Lage des Querschnitts hin, der in Abbildung 2 unten dargestellt ist.

Geophysikalische Daten an der Oberfläche und innerhalb des Lochs

Vor kurzem wurden im Rahmen einer Modellierung Fixed Loop-Messungen sowie elektromagnetische Messungen im Loch durchgeführt, mit denen man in der Lage ist, das Grundgestein der Massivsulfidmineralisierung zu lokalisieren. Die Ergebnisse lassen mit großer Wahrscheinlichkeit darauf schließen, dass sich die Mineralisierung weiter nördlich fortsetzt als bisher vermutet (Abbildung 1). Anhand der Modelle lassen sich zwei Zonen mit Massivsulfiden ausmachen, von denen eine (obere, oberflächennahe Leitschicht) mit der bekannten Mineralisierung korreliert, während die andere (untere, tiefere Leitschicht) möglicherweise eine neue und noch unerkundete Mineralisierung darstellt. Dieses Konzept wurde noch nicht durch Bohrungen untersucht (auch nicht im Rahmen des Programms im Mai 2015) und bietet daher weitere Chancen für die Ausdehnung der mineralisierten Bereiche. Das Unternehmen will diese Arbeiten im weiteren Jahresverlauf in Angriff nehmen.

Phoenix Copper ist der Überzeugung, dass enormes Potenzial für eine Erweiterung der Ressourcen im Projekt Hayes Creek sowie für die Entdeckung neuer VMS-Lagerstätten besteht. Die Zielstratigraphie lässt sich an der Oberfläche auf einer Länge von mindestens 10 km verfolgen; zahlreiche weitere Bereiche, die sich auf dem Projektgelände Burnside befinden, sollen noch genauer erkundet werden. Es wird demnächst ein regionales Explorationsprogramm eingeleitet, mit dem eine Kartierung und Probenahme des prospektiven Horizonts durchgeführt und neue Bereiche mit potentiellen VMS- und Goldlagerstätten verifiziert werden sollen.
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Abbildung 2: NW-SO-Querschnitt durch Loch MBRC014, der auf eine mögliche, leicht gegen Nordwesten abfallende Massivsulfidlinse hinweist

Über das Projekt Hayes Creek
Die Lagerstätten Iron Blow und Mount Bonnie sind Teil des von Phoenix Copper betriebenen Projekts Hayes Creek, das sich in der Region Pine Creek im australischen Northern Territory, 180 km südlich von Darwin, befindet (Abbildung 4). Die Lagerstätten befinden sich auf dem Gelände genehmigter Bergbaukonzessionen und unweit bestehender Infrastruktureinrichtungen (Bahnnetz, Straßen, Starkstromleitungen, Wasserversorgung).

Für die Lagerstätte Iron Blow wurde von Phoenix Copper Ende 2014 eine neue Mineralressourcenschätzung erstellt, in der Mineralressourcen der abgeleiteten Kategorie gemäß JORC (2012)-Richtlinien ausgewiesen wurden (Tabelle 3). Diese Ressourcen umfassen rund 200.000 Unzen Gold, 10,7 Millionen Unzen Silber und 125.000 Tonnen Zink mit potentiell abbaubaren Erzgehalten (siehe ASX-Meldung vom 3. November 2014).

Im Laufe des Jahres 2015 will das Unternehmen im Projekt Hayes Creek ein Ressourcenvolumen definieren, das für die Durchführung einer Rahmenstudie ausreicht. Diese Studie, die Mitte April 2016 vorliegen soll, wird als Nachweis der potentiellen Machbarkeit des Projekts dienen.

Tabelle 3: Schätzung der abgeleiteten Mineralressourcen bei Iron Blow - Stand: 8. Oktober 2014*
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* Einzelheiten siehe ASX-Meldung vom 3. November 2014 mit dem Titel High Grade Mineral Resource Estimate for Iron Blow Deposit Hinweis: Seit dem Erstbericht wurden keine wesentlichen Änderungen an der Mineralressourcenschätzung vorgenommen. Die Ergebnisse, der von Phoenix Copper seit Oktober 2014 durchgeführten Bohrungen sind nicht in der Schätzung enthalten.
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Abbildung 3: Iron Blow und Mount Bonnie auf dem Projektgelände Hayes Creek
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Abbildung 4: Projekt Hayes Creek und Explorationsprojekte Burnside, Moline und Chessman
 
Stellungnahme des Sachverständigen
Die in diesem Bericht enthaltenen Informationen, die sich auf Explorationsergebnisse beziehen, basieren auf Datenmaterial, das von Andrew Bennett, einem Sachverständigen und Mitglied des Australasian Institute of Mining and Metallurgy (AusIMM), zusammengestellt wurde. Herr Bennett hat ausreichende Erfahrungen, wie sie für die Art der hier dargestellten Mineralisierung bzw. Lagerstätten und auch für die von ihm durchgeführten Tätigkeiten wesentlich sind. Er verfügt somit über die entsprechenden Qualifikationen, die ihn zum Sachverständigen gemäß den einschlägigen australischen Richtlinien der Berichterstattung (Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, Ausgabe 2012) befähigen. Herr Bennett stimmt zu, dass die auf den einschlägigen Informationen basierenden Angaben in einer der Form und dem Zusammenhang entsprechenden Weise in diesen Bericht aufgenommen werden.

James Fox---
Managing Director & CEO
Telefon: +61 (0)8 8364 3188
E-Mail: info@phoenixcopper.com.au
---
Peter Taylor
Investor Relations
Telefon: +61 (0) 412 036 231
E-Mail: peter@nwrcommunications.com.au
Website: www.phoenixcopper.com.au

Phoenix Copper Limited
ABN 67 127 446 271
Level 1, 135 Fullarton Road
Rose Park, SA 5067
Australien
Telefon: +61 (0) 8 8364 3188
Fax: +61 (0) 8 8364 4288
info@phoenixcopper.com.au
www.phoenixcopper.com.au

Für die Richtigkeit der Übersetzung wird keine Haftung übernommen! Bitte englische Originalmeldung beachten!

Sie finden den englische Originalmeldung inkl. JORC Code unter folgendem Link:

http://www.asx.com.au/asxpdf/20150603/pdf/42yz91lk08k1z3.pdf

JORC Code, 2012 Edition - Table 1
Section 1 Sampling Techniques and Data

Criteria JORC Code explanation Commentary
Sampling · Nature and quality of sampling (e.g. cu· All samples are reverse circulation
techniqut channels, random chips, or specific (RC)
es specialised industry standard chips
measurement tools appropriate to the
minerals · All samples were split using riffle
un splitter mounted to the bottom of the
der investigation, such as downhole cyclone to obtain a representative
gamma sondes, or handheld XRF sample for
instruments, etc). These examples analysis
should not be taken as limiting the
broad meaning of · Sample intervals were 1m
sampling. · Sample weights were typically 2-3kg
· Magnetic susceptibility measurements we
· Include reference to measures taken to re
ensure sample representivity and the
appropriate calibration of any taken using a Fugro GSM-2 instrument
measurement tools or systems · Field portable XRF measurements taken
used. for 32 elements (Ca, Ti, V, Cr, Mn, Fe,
Co, Ni, Cu, Zn, As, Rb, Sr, Zr, Mo, Ag,
· Aspects of the determination of Cd, Sn, Sb, W, Hg, Pb, Bi, Th, U, P, S,
mineralisation that are Material to the Cl, K, Se, Y and Au) using an
Public Olympus-InnovX DELTA Premium DP4000C
Report. with a Ta/Au anode. The instrument
conducts a self-calibration prior to
· In cases where industry standard each use and is also checked against
work has been done this would be standard reference
relatively simple (eg reverse samples
circulation drilling was used to obtain
1 m samples from which 3 kg was · Mineralised intercepts have been
pulverised to produce a 30 g charge for verified using the field portable XRF
fire assay). In other cases more instrument which gives a qualitative
explanation may be required, such as measure of the relevant elemental
where there is coarse gold that has abundances
inherent sampling problems. Unusual
commodities or mineralisation types (eg
submarine nodules) may warrant
disclosure of detailed
information.

Drilling · Drill type (eg core, reverse · All drilling was RC drilling from
techniqu circulation, open-hole hammer, rotary surface with 4.5 rods with a face
es air blast, auger, Bangka, sonic, etc) sampling
and details (eg core diameter, triple hammer
or standard tube, depth of diamond . Drilling was carried out by May
tails, face-sampling bit or other type, Drilling of Humpty Doo, Northern
whether core is oriented and if so, by
what method, Territory using a truck mounted EDM2000 d
etc). rillin
g rig
· A Reflex Easy Track single-shot survey
tool was used by May Drilling at
regular intervals

(approximately every 30m downhole) as
instructed by Phoenix
Coppers
on-site geologist to monitor the downhol
e
position

Drill · Method of recording and assessing core · Sample recovery was estimated visually
sample and chip sample recoveries and results by inspecting the size of the sample
recovery assessed. collected, and recorded in the
geological log at 1m
· Measures taken to maximise sample intervals
recovery and ensure representative
nature of the · No relationship has yet been
samples. established between sample recovery and
grade. When samples became wet,
· Whether a relationship exists between there was unavoidable loss of fines
sample recovery and grade and whether (typically 5-10% of the sample weight).
sample bias may have occurred due to This has the possibility of
preferential loss/gain of fine/coarse introducing a sample bias in deeper
material. parts of some holes. Geological logs
include the wet or dry nature of the
sample
 
Logging · Whether core and chip samples have · All RC chips have been geologically
been geologically and geotechnically logged by the onsite
logged to a level of detail to support geologist
appropriate Mineral Resource at 1m intervals and chip trays have
estimation, mining studies and been retained and
metallurgical photographed
studies.
· Log fields include lithology, colour,
· Whether logging is qualitative or grainsize, texture, veining, sulphide
quantitative in nature. Core (or mineralisation, alteration, strength,
recovery and sample
costean, channel, etc) photography. moisture
· The total length and percentage of the
relevant intersections · Logs have been aided by the use of
logged. magnetic susceptibility and portable
XRF measurements on each metre
sample

Sub-sampl· If core, whether cut or sawn and · Riffle splitting at the drill rig
ing whether quarter, half or all core provides a 1/8 fraction of the total
techniqu taken. drilled portion for
es and assay
sample · If non-core, whether riffled, tube
preparat sampled, rotary split, etc and whether · All samples were riffle split. The
ion sampled wet or splitter was blown with compressor air
dry. and cleaned at the end of each rod (6m)
to reduce sample
· For all sample types, the nature, contamination
quality and appropriateness of the
sample preparation · All mineralised intercepts and their
technique. surrounding ~10m
are
· Quality control procedures adopted for submitted for assay. Intervals
all sub-sampling stages to maximise submitted for
representivity of assay
samples. are based on visual and portable XRF
readings
· Measures taken to ensure that the
sampling is representative of the in · Duplicate field samples were taken
situ material collected, including for each
instance results for field 25
duplicate/second-half th sample by using a second portable
sampling. riffle splitter to check representivity
of
· Whether sample sizes are appropriate samples
to the grain size of the material being
sampled. · Individual samples are placed in
individual sample bags and clearly
identified prior to submission to the
laboratory for
assay

· The sample sizes are appropriate for
the grain size of the material being
sampled

Quality · The nature, quality and · Samples were submitted to Northern
of appropriateness of the assaying and Australian Laboratories (NAL) in Pine
assay laboratory procedures used and whether Creek, Northern
data the technique is considered partial or Territory
and total.
laborato · After crushing and pulverizing to -
ry · For geophysical tools, spectrometers, 100 microns, each sample is roll mixed
tests handheld XRF instruments, etc, the on a
parameters used in determining the ru
analysis including instrument make and bber mat after pulverizing, a barren
model, reading times, calibrations flush is pulverized between each
factors applied and their derivation, sample, the samples are subjected to a
etc. four acid digest (considered a total
digest for the elements of interest)
· Nature of quality control procedures and read using ICP-MS and OES for a
adopted (eg standards, blanks, suite of elements (lab methods
duplicates, external laboratory checks) G400
and whether acceptable levels of and G340 for ore grade samples). A
accuracy (ie lack of bias) and sub-sample of the pulverized sample is
precision have been also submitted for conventional fire
established. assay for gold
(FA50
)
· Phoenix Copper submitted certified
reference materials every
25
th sample and also submitted blank
quartz material to check laboratory
analytical and sample preparation
quality

· NAL have internal QAQC procedures,
including certified reference
materials,
duplicates
and blanks, results of which are
reviewed by NAL prior to reporting to
Phoenix
Copper

· Visual assessment of the standards,
blanks and duplicates shows that a high
degree of confidence can be placed in
the accuracy and precision of the assay
data

Verificat· The verification of significant · The results in this report have no
ion of intersections by either independent or directly comparable diamond core to
sampling alternative company determine if sample bias is a
and personnel. possibility in RC drilling. When all
assaying results are received, a statistical
· The use of twinned holes. comparison between RC samples and
· Documentation of primary data, data diamond core will be undertaken
entry procedures, data verification,
data storage (physical and electronic)
protocols. · External laboratory assays are
routinely carried out prior to resource
· Discuss any adjustment to assay data. estimation

· All logging has been carried out using
standardised logging codes to
professional standards. All
geological, geotechnical and sampling
information has been entered into a
digital

database which has been validated for
sample overlaps and missing
data

· All hard copies of information are
stored in a secure compound at

site. Digital copies are held on site
and at Phoenix
Coppers
Adelaide office on a backed-up server
· No adjustments to assays have been
made. Where gold assay data has been
repeated by the lab, the average value
has been
reported

Location · Accuracy and quality of surveys used · Downhole surveys have been collected
of data to locate drill holes (collar and by a Reflex single shot camera at
points down-hole surveys), trenches, mine intervals of 30m. Where magnetic
workings and other locations used in ground was encountered, alternative
Mineral Resource depths were
estimation. surveyed

· Specification of the grid system used. · The drill collars were located using a
· Quality and adequacy of topographic Garmin GPS Map 60 hand-held GPS unit
control. and verified using a second unit. The
drill

hole locations are considered accurate
to within 7 m and this is sufficient
for the nature of the drilling. All
coordinates are quoted using the GDA94
datum and
pro
jected to MGA zone 52
· Topography has been accurately
measured using a drone survey

over the area in 2014
Data · Data spacing for reporting of · The drill spacing is irregular, due to
spacing Exploration the irregular topography and historical
and Results. mining activities; however the overall
distribu drill spacing within the mineralised
tion · Whether the data spacing and zone is approximately 15 x 40m, which
distribution is sufficient to establish will
the degree of geological and grade
continuity appropriate for the Mineral be sufficient to establish the grade
Resource and Ore Reserve estimation continuity.
procedure(s) and classifications A few scout holes occur at irregular
applied. spacings to the north of known
mineralisation, but there is no
· Whether sample compositing has been drilling at all to the south of known
applied. mineralisation

· Consistent 1 metre downhole intervals
are sampled, which is appropriate for
RC drilling and for the thickness of
the known
mineralisation

· No sample compositing has been carried
out

Orientati· Whether the orientation of sampling · The drill holes are oriented to
on of achieves unbiased sampling of possible intersect mineralisation close to
data in structures and the extent to which this perpendicular to the interpreted
relation is known, considering the deposit orientation of the main zone of
to type. mineralisation. Some holes were
geologic drilled vertically where space was
al · If the relationship between the limited. The mineralisation may be
structur drilling orientation and the folded in some areas, which could
e orientation of key mineralised result in the possibility of drill
structures is considered to have holes being not optimally
introduced a sampling bias, this should orientated
be assessed and reported if
material. · Any biasing effect is yet to be
determined

Sample · The measures taken to ensure sample · Logging and sampling has been carried
security security. out by Phoenix

Copper personnel on site and samples
submitted to
th
e laboratory by the same people
· No third parties have been allowed
access to the
samples

Audits · The results of any audits or reviews · No audits have been carried out at
or of sampling techniques and this
reviews data. point

· A visual comparison of the assay
results with the field portable XRF
shows an acceptable correlation between
the
two
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Criteria JORC Code explanation Commentary
Mineral · Type, reference name/number, location · The Mount Bonnie deposit is located
tenement and ownership including agreements or within MLNs1033, 1039, 342 and
and material issues with third parties such 405
land as joint ventures, partnerships,
tenure overriding royalties, native title · The deposit and drilling is situated
status interests, historical sites, wilderness within Pastoral Lease No. 903,
or national park and environmental Do
settings. uglas, held by Tovehead Pty Ltd
· The Mineral Leases are in good standing
· The security of the tenure held at the and no known impediments
time of reporting along with any known exist
impediments to obtaining a licence to
operate in the · A Sale and Purchase Agreement and
area. Heads

of Agreement for Farm In and Joint
Venture Agreement (Agreement)

between Phoenix Copper Ltd and Crocodile
Gold Australia Pty
Ltd
was signed on 15 August 2014, the
Agreement includes the 100% acquisition

of the mineral leases containing Iron
Blow and Mount Bonnie.

Crocodile Gold retains a 2% royalty on
any silver and gold
production
from those deposits
Explorati· Acknowledgment and appraisal of · Previous exploration at Iron Blow and
on done exploration by other Mount Bonnie has consisted of oxide
by parties. mining, geological mapping, surface
other geochemical sampling and diamond
parties drilling

· Crocodile Gold carried out some
drilling at both deposits in 2011,
which has been inspected and verified
by Phoenix
Copper

· Extensive exploration on the broader
tenement package by previous explorers
has focused on gold exploration.
Numerous base metal prospects have
been identified in surface geochemical
sampling by these explorers that have
not been adequately followed up due to
the lower gold
values

· Crocodile Gold completed an airborne
EM (VTEM) survey over parts of the
tenement package. Numerous conductive
rocks prospective for base metals have
been identified by Phoenix Copper for
further

ground truthing and follow-up work
Geology · Deposit type, geological setting and · Iron Blow and Mount Bonnie are stratabo
style of und base metal, silver and gold massive
mineralisation. sulphide deposits. They are located
within the Mount Bonnie Formation of
the South Alligator Group, within the
Pine Creek Orogen of the Northern
Territory. Both deposits appear to be
located at similar stratigraphic
positions on opposite limbs of the
roughly
north-s
outh trending Margaret Syncline
· Mineralisation is hosted within
carbonaceous siltstones and mudstones
within the

lower portion of the Mount Bonnie
Formation. It appears to have formed
early in the basin development and has
associated footwall alteration
consisting of variable proportions of
chlorite, amphibole, calcite, silica,
and talc with associated vein and
disse
minated sulphides. The mineralisation app
ears to be consistent with a

volcanic hosted massive sulphide deposit
(VHMS)
characteristics, or could possibly be
related to carbonate replacement
style
. Further work is required to determine
the exact
association.

· The massive sulphide mineralisation is
dominantly massive
pyrrho
tite with zones of coarse-grained,
high-grade sphalerite, arsenopyrite,
chalcopyrite, with lesser galena.
Significant

silver and gold grades are also present i
n previous
drillholes
within the massive sulphide and within
adjacent quartz-veined and brecciated
sediments containing significant
disseminated and stringer
sulphides
, which is possibly the vent zone
typical of VHMS
deposits

· Mineralisation at both Iron Blow and
Mount Bonnie is structurally complex
and appears to be deformed by the
regional deformation events.
Structural mapping and logging is

continuing to determine the precise
nature, timing, and geometry of the
mineralized

bodies
Drill · A summary of all information material · Refer to table and diagram in main
hole to the understanding of the exploration announcement for drill summary
Informat results including a tabulation of the details
ion following information for 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 · In reporting Exploration Results, · All samples are of equal length, so no
aggregat weighting averaging techniques, maximum weighted averages are
ion and/or minimum grade truncations (eg applied
methods cutting of high grades) and cut-off
grades are usually Material and should · No high cut-off grades have been
be applied
stated.
· Reported intersections are reported as
· Where aggregate intercepts incorporate significant if they occur at a minimum
short lengths of high grade results and of 0.7 g/t Au, calculated on an
longer lengths of low grade results, equivalence basis. This is consistent
the procedure used for such aggregation with the minimum cut-off grade reported
should be stated and some typical for the Iron Blow resource (JORC 2012)
examples of such aggregations should be reported 3 November 2014. Mineralised
shown in intersections were observed to be
detail. coherent and have sharp grade
boundaries, but may include narrow
· The assumptions used for any reporting intervals of sub-ore grade
of metal equivalent values should be mineralisation which would be
clearly considered as internal dilution if
stated. mined by open pit
methods

· Higher grade mineralised zones have
been reported if coherent downhole
intervals >= 6g/t Au (equivalent) is
encountered

· Metal equivalent grades assumptions
are calculated using the following
formula:

AuEq g/t = [(Au grade g/t x (Au price
oz/31.1034768) x Au recovery) + (Ag g/t
x (Ag price oz/31.1034768) x Ag
recovery) + (Cu grade % x (Cu price per
t/100) x Cu recovery) + (Pb grade % x
(Pb price per t/100) x Pb recovery) +
(Zn grade % x (Zn price per t/100) x Zn
recovery)] / (Au price per
oz/31.1034768).
ZnEq % = [(Au grade g/t x (Au price
oz/31.1034768) x Au recovery) + (Ag g/t
x (Ag price oz/31.1034768) x Ag
recovery) + (Cu grade % x

(Cu price per t/100) x Cu recovery) +
(Pb grade % x (Pb price per t/100) x Pb
recovery) + (Zn grade % x (Zn price per
t/100) x Zn
rec
overy)] / (Zn price per t/100)
· Metal prices & recoveries used are
consiste
nt with the Iron Blow resource (JORC
2012), reported 3 November
2014
. Metal prices: Cu US$7,000t, Pb
US2.250/t, Zn US$2,350/t, Ag US$20/oz,
Au
US$1,300/oz
. Recoveries: Cu 70%, Pb 70%, Zn 70%, Ag
90%, Au
90%

Relations· These relationships are particularly · The mineralised intersections quoted
hip important in the reporting of in this report are very close to true
between Exploration widths
minerali Results. - to be confirmed by wireframing and
sation structural
widths · If the geometry of the mineralisation analysis
and with respect to the drill
intercep · The geometry of the mineralisation is
t hole angle is known, its nature should approximately 45deg NW at Mt Bonnie and
lengths be most of the drill holes have been
reported. drilled towards the SE perpendicular to
the
· If it is not known and only the down mineralisation
hole lengths are reported, there should
be a clear statement to this effect
(e
.g. down hole length, true width not
known).

Diagrams · Appropriate maps and sections (with · Refer to main announcement
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.

Balanced · Where comprehensive reporting of all · All matters of importance have been
reportin Exploration Results is not practicable, included
g representative reporting of both low
and high grades and/or widths should be
practiced to avoid misleading reporting
of Exploration
Results.

Other · Other exploration data, if meaningful · All relevant information has been
substant and material, should be reported included
ive including (but not limited to):
explorat geological observations; geophysical
ion survey results; geochemical survey
data results; bulk samples - size and method
of treatment; metallurgical test
results; bulk density, groundwater,
geotechnical and rock characteristics;
potential deleterious or contaminating
substances.

Further · The nature and scale of planned · Further work will be assessed on
work further work receipt of all assay results from the
(e current drill program. Further
.g. tests for lateral extensions or drilling will likely be required to
depth extensions or large-scale find the extent of
step-out mineralisation
drilling).
· Detailed geological interpretations
· Diagrams clearly highlighting the will be done following modelling of the
areas of possible extensions, including drilling and incorporated with
the main geological interpretations and historical data and mapping
future drilling areas, provided this results
information is not commercially
sensitive.

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