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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Cobra Resources Plc | LSE:COBR | London | Ordinary Share | GB00BGJW5255 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 1.025 | 0.95 | 1.10 | 1.025 | 1.025 | 1.025 | 89,951 | 07:32:49 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Miscellaneous Metal Ores,nec | 0 | -509k | -0.0009 | -11.33 | 6.04M |
From Apr 2022 to Apr 2024
TIDMCOBR
RNS Number : 3718P
Cobra Resources PLC
20 June 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET ABUSE (AMMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.
20 June 2022
Cobra Resources plc
("Cobra" or the "Company")
Wudinna Project Update
Stage 4 Re-Analysis Demonstrates Large Scalability of Rare Earth Mineralisation
Preliminary Metallurgical Testing Provides Encouraging Recovery Potential
Cobra, a gold, IOCG, and rare earth exploration company focused on the Wudinna Project in South Australia, announces results from the Stage 4 re-analysis of a further 78 drillholes (1,024 samples) from historic drilling at several regional targets. Drillholes were re-analysed for lanthanides following the definition to date of a 4 km(2) Rare Earth Element ("REE") mineralisation footprint above Clarke and Baggy Green gold mineralisation.
-- Exceptional high-grade REE intersections have been defined within saprolite clays at several regional targets that are headlined by:
o SCH-0922 intersects 31m at 1,427 ppm TREO from 12m including 12m at 3,168 ppm TREO with 28.4% combined neodymium/praseodymium (Nd/Pr) and 1.7% dysprosium (Dy)
o WUD1-0231 intersects 18m at 2,024 ppm TREO from 24m with 23.7% combined Nd/Pr and 2.8% Dy
o KY1-0399 intersects 37m at 1,304 ppm TREO from 18m with 22% Nd/Pr and 1.5% Dy
-- A number of the prospects yielding high-grade rare earth intersections will be tested within our current aircore drilling programme.
-- High-grade intersections occur along a 47-kilometre structural trend across the project's 1,832 km(2) , demonstrating the scale potential of REE mineralisation where:
o at the Anderson prospect, the average significant intersection is 18.3m at 844 ppm TREO from 16m with neodymium and praseodymium equating to 23.1% and dysprosium 1.5% of the TREO;
o at the Thompson prospect, the average significant intersection is 15.6m at 832 ppm TREO from 16m with neodymium and praseodymium equating to 23.8% and dysprosium 1.6% of the TREO;
o at the Hadlee prospect, the average significant intersection is 25m at 693 ppm TREO from 22m with neodymium and praseodymium equating to 22.2% and dysprosium 1.3% of the TREO; and
o at the Botham prospect, the average significant intersection is 12m at 836 ppm TREO from 32m with neodymium and praseodymium equating to 19.7% and dysprosium 1.6% of the TREO.
-- Preliminary metallurgical test work completed by the Australian Nuclear Science and Technology Organisation ("ANSTO") on samples from two drillholes at Clarke confirm the presence of leachable REE mineralisation, with leach recoveries of up to 34.1% TREE (+Y)
Rupert Verco, CEO of Cobra, commented:
"These results contain some of the highest grade REE intersections reported from the project to date with high quantities of high-value magnet rare earths including neodymium, praseodymium and dysprosium.
The results validate our belief that targeting large structures that enhance REE mobility and granite weathering can produce higher grade rare earth occurrences over incredibly large areas. The reported rare earth grades and widths to date demonstrate that the Wudinna Project is potentially a world-class rare earth province.
Preliminary metallurgical test work confirms leachable rare earth mineralisation, with recoveries being in line with other rare earth projects. The results necessitate further follow-up testing where optimisation techniques will be tested with the aim of further improving recoveries.
Our current and upcoming field programmes are designed to further advance the extent of rare earth mineralisation, define further gold mineralisation and to drill test our exciting IOCG targets.
We look forward to providing updates as our field work progresses."
A webcast presentation by the Company's CEO regarding the interpretation of these results is available on the Company's website at www.cobraplc.com/investors/ .
Highlights include:
-- At the Anderson prospect, highlight intersections include:
o WUD1-0231 intersected 18m at 2,024 ppm TREO from 24m, including 12m at 2,767 ppm TREO from 30m, above the previously reported 1m at 1.013 g/t gold from 79m
o WUD1-0383 intersected 40m at 641 ppm TREO from 12m, including 6m at 1,077 ppm TREO from 36m
o WUD1-0328 intersected 15.6m at 612 ppm TREO from 15.5m
-- At the Thompson prospect, highlight intersections include:
o SCH-0922 intersected 31m at 1,427 ppm TREO from 12m, including 12m at 3,168 ppm TREO from 12m
o SCH-0939 intersected 6m at 1,839 ppm TREO from 36m
o SCH-0928 intersected 12m at 811 ppm TREO from 36m
o SCH-0977 intersected 18m at 692 ppm TREO from 6m
o KO11S-1085 intersected 6m at 687 ppm TREO from 0m
-- At the Hadlee prospect, highlight intersections include:
o KY1-0399 intersected 37m at 1,304 ppm TREO from 18m
o KY1-0397 intersected 16m at 633 ppm TREO from 36m
o KO3-0525 intersected 18m at 544 ppm TREO from 18m
-- At the Botham prospect, highlight intersections include:
o WBN-0884 intersected 12m at 800 ppm TREO from 18m
o WBN-0888 intersected 6m at 1,165 ppm TREO from 48m
o WBN-0962 intersected 18m at 544 ppm TREO from 30m
-- At the Barns and White Tank gold resources intersections include:
o RHBN-177 intersected 12m at 540 ppm TREO from 18m
o RHBN-182 intersected 6m at 518 ppm TREO from 6m and 6m at 946 ppm TREO from 24m
o Intersections are low in radioactive nuclei with average intersections of uranium and thorium being 6 ppm and 22 ppm respectively
(1) Rare earth results reported as calculated true width intersections using a maximum of 6m internal dilution, owing the downhole composite length.
-- Metallurgical test work demonstrates leaching recoveries of up to 34.1% TREE (+Y) using H2SO4 as lixiviant, at a pH 1 over a 6-hour duration - comparable to preliminary metallurgical results of other clay hosted rare earth projects in South Australia
-- Leach time and pH positively impact recoveries -- Low to moderate acid consumption demonstrated in test work
-- Metallurgical test work confirms low content Ion phase mineralisation and more abundant colloidal mineralisation. These styles of mineralisation are conducive to low-cost extraction techniques
Cobra now intends to conduct follow-up validation metallurgical optimisation test work and to evaluate recovery potential over broader areas of mineralisation. Cobra also intends to trial rare earth extraction techniques such as rare earth characterisation by size, beneficiation stage amenability, varying lixiviants, pH, leach times, introducing washing steps and introducing multiple leach steps. to increase high value magnet rare earth recoveries.
Interpretation of results:
Re-analysis of historic pulp samples
-- The proximity of regional, large scale geological structures to high-grade REE intersections is interpreted to result from:
o NW trending structure acting as conduits for the Hiltaba age intrusions that are elevated in REEs
o Structural fabrics exacerbating secondary weathering and REE mobilisation, resulting in increased saprolite thicknesses and REE enriched saprolite horizons
-- REE high-grade intersections have been defined along 47 km of an extensive regional structure. This structure intersects and offsets gold mineralisation at Barns, White Tank and Baggy Green Resources
-- The results re-affirm the companies approach to defining a large, robust and complementary dual commodity resource
Preliminary metallurgical test work
o 1m sample composites from Clarke drillholes CBRC0044 and CBRC0054 (drilled in Nov-21) were submitted to ANSTO to test the recovery of contained rare earth elements. Results have been reviewed by Peter Adamini BSc (Mineral Science and Chemistry), who is a full time employee of Independent Metallurgy Operations Pty Ltd (IMO) and a Member of The Australasian Institute of Mining and Metallurgy (AusIMM).
o Clay-hosted rare earth deposits generally contain three styles of mineralisation:
o Ionic phase : Where rare earths occur as soluble cations and are adsorbed to weakly charged clay particles. This rare earth mineralisation can be readily extracted by ion-exchange leaching with monovalent salts
o Colloid phase : REEs are present as oxides or hydroxides or as part of colloidal polymeric compounds. These species have a higher presence in ores from slightly alkaline conditions and are recoverable through acid leaching
o Mineral phase : REEs occur within solid crystal particulate of minerals representative of the host rocks. This type of mineralisation generally forms the non-recoverable portion of ionic clay deposits, only being recoverable by aggressive conditions that involve complex flow sheets
-- Two separate tests targeting the ionic and colloid phases of rare earth mineralisation were performed where:
o Metallurgical recoveries are calculated from head grades analysed via a mixed acid digest -Lithium Borate Fusion ICP scan. This resulted in an average increase in head grade of 6% compared to the previously reported 4-Acid digest results
o The standard desorption test targeting the ionic phase of mineralisation yielded low (<10%) recoveries from 40-gram samples under the following standard conditions:
-- 0.5M (NH(4) )(2) SO(4) as lixiviant
-- pH4
-- Duration: 30 minutes
-- Ambient temperature of 22 deg C
-- 2 wt% density
o Leaching test work demonstrated improved recoveries resulting from reduced pH and increased leach time with one sample yielding recoveries of up to 34.1% TREE+Y under the following conditions:
-- Acidic water as lixiviant (using H(2) SO(4) )
-- pH1
-- Duration: 6 hours
-- Ambient temperature of 22 deg C
-- 2 wt% density
o Results suggest a higher portion of colloid phase mineralisation
o Acid consumption was low to moderate for all tested samples
o Results are comparable to the preliminary results presented for other South Australian clay hosted rare earth projects that have demonstrated improved recoveries through optimisation test work
o The results demonstrate the presence of colloid phase mineralisation. Ionic phase mineralisation is controlled by a number of environmental factors including pH, varying ground water conditions, the presence of sulphides in bedrock and the chemistry of the overlying humic layer which may improve recovery
o Varying conditions encountered over large geological domains, intersected changes in REE composition and varying states of the saprolite horizon re-affirm the potential for ionic phase mineralisation to occur at the Wudinna Project
o Based on the results of the preliminary metallurgical test work, the Company is encouraged to undertake further optimised metallurgical assessment across the expanded REE mineralisation footprint
Next steps
The Company is focused on executing its exciting, high-value 2022 work programme that is designed to:
1. Cost effectively grow the existing 211,000 ounce gold mineral resource estimate ("MRE") through testing strike extensions at Clarke, test resource extensions at Barns and White Tank, and test prospective regional gold in calcrete and pathfinder anomalies
2. Expand the saprolite hosted rare earth mineralisation footprint beyond the reported re-analysis footprint with the aim defining a maiden REE resource
3. Maiden drill test IOCG targets with anomalous geophysical and geochemical indicators
The current aircore drilling programme and the planned RC programme are designed to advance a number of gold, IOCG and rare earth targets where REE mineralisation will be tested from the clay component of the Saprolite horizon. This will enable the collection of greater sample quantities across a significantly expanded sample area enabling rare earth element metallurgical optimisation studies.
In consultation with ANSTO and metallurgical consultants IMO, the Company will determine the best approach to define a robust metallurgical optimisation study. Options include rare earth characterisation by size, beneficiation stage amenability, varying lixiviants, pH, leach times, introducing washing steps and introducing multiple leach steps.
In addition to this release, a version of this report with supplementary information and images can be found at http://www.rns-pdf.londonstockexchange.com/rns/3718P_1-2022-6-17.pdf
Enquiries:
Cobra Resources plc via Vigo Consulting Rupert Verco (Australia) +44 (0)20 7390 0234 Dan Maling (UK) SI Capital Limited (Joint Broker) Nick Emerson Sam Lomanto +44 (0)1483 413 500 Peterhouse Capital Limited (Joint Broker) Duncan Vasey Lucy Williams +44 (0)20 7469 0932 Vigo Consulting (Financial Public Relations) Ben Simons Charlie Neish Kendall Hill +44 (0)20 7390 0234
The person who arranged for the release of this announcement was Rupert Verco, CEO of the Company.
About Cobra
Cobra's Wudinna Project is located in the Gawler Craton which is home to some of the largest IOCG discoveries in Australia including Olympic Dam, as well as Prominent Hill and Carrapateena. Cobra's Wudinna tenements contain extensive orogenic gold mineralisation and are characterised by potentially open-pitable, high-grade gold intersections, with ready access to nearby infrastructure. Recent drilling has discovered Rare Earth Mineralisation proximal to and above gold mineralisation. The grades, style of mineralogy and intercept widths are highly desirable. In addition, Cobra has over 22 orogenic gold prospects, with stand-out grades of 16 g/t up to 37.4 g/t gold outside of the current 211,000 oz JORC Mineral Resource Estimate, as well as one copper-gold prospect, and five IOCG targets.
Competent Persons Statement
Information and data presented within this announcement has been compiled by Mr Robert Blythman, a Member of the Australian Institute of Geoscientists ("MAIG"). Mr Blythman is a Consultant to Cobra Resources Plc and has sufficient experience, which is relevant to the style of mineralisation, deposit type and to the activity which he is undertaking to qualify as a Competent Person defined by the 2012 Edition of the Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves (the "JORC" Code). This includes 10 years of Mining, Resource Estimation and Exploration relevant to the style of mineralisation.
The information in this document that relates to metallurgical test work is based on, and fairly represents, information and supporting documentation reviewed by Mr Peter Adamini, BSc (Mineral Science and Chemistry), who is a Member of The Australasian Institute of Mining and Metallurgy (AusIMM). Mr Adamini is a full-time employee of Independent Metallurgical Operations Pty Ltd, who has been engaged by Cobra Resources Plc to provide metallurgical consulting services. Mr Adamini has approved and consented to the inclusion in this document of the matters based on his information in the form and context in which it appears.
Information in this announcement has been assessed by Mr Rupert Verco, a Fellow of the Australasian Institute of Mining and Metallurgy ("FAusIMM"). Mr Verco an employee of Cobra Resources Plc has more than 15 years relevant industry experience, which is relevant to the style of mineralisation, deposit type and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves (the "JORC" Code). This includes 10 years of Mining, Resource Estimation and Exploration relevant to the style of mineralisation.
Information in this announcement relates to exploration results that have been reported in the following announcements:
"Wudinna Project Update - Re-Analysis Defines Large Rare Earth Mineralisation Footprint Above Baggy Green and Clarke Gold Mineralisation", dated 4 May 2022
"Wudinna Project Update - Northern Drillholes at Clarke Intersect Additional Gold Mineralisation, Additional Rare Earth Intersections Directly Above Gold Zones", dated 7 February 2022
"Wudinna Project Update - Clarke Gold Assay Results", dated 3 December 2020
Additional Information
Table 1: Significant rare earth oxide intercepts from lanthanide re-analysis at 350 ppm cut-over grade, reported as true width.(1)
Hot Features
Premium
Location BHID DH DH Depth True TREO
From To from width (ppm)
(m) (m) Surface (m) Praseodymium Neodymium Terbium Dysprosium
Pr6O11 Nd2O3 Tb4O7 Dy2O3
=============== ============== ============= ==============
% % %
ppm TREO ppm TREO ppm TREO ppm % TREO
===== ======== ====== ====== ===== ====== ===== =======
Bradman ACBN-195 30 36 30.0 6.0 1352 55 4.1% 223.6 16.5% 5.4 0.4% 30.8 2.3%
============ ===== ==== ======== ====== ====== ===== ======== ====== ====== ===== ====== ===== =======
Hadlee KO3-0451 18 54 18.0 36.0 496 23 4.7% 86.0 17.3% 1.4 0.3% 6.4 1.3%
============ ===== ==== ======== ====== ====== ===== ======== ====== ====== ===== ====== ===== =======
KO3-0525 18 36 18.0 18.0 544 30 5.6% 98.2 18.1% 1.2 0.2% 5.7 1.0%
========================== ===== ==== ======== ====== ====== ===== ======== ====== ====== ===== ====== ===== =======
KO3-0543 18 36 18.0 18.0 489 24 4.9% 90.5 18.5% 1.4 0.3% 7.6 1.6%
========================== ===== ==== ======== ====== ====== ===== ======== ====== ====== ===== ====== ===== =======
KY1-0397 36 52 36.0 16.0 633 27 4.3% 100.5 15.9% 1.3 0.2% 6.5 1.0%
========================== ===== ==== ======== ====== ====== ===== ======== ====== ====== ===== ====== ===== =======
KY1-0399 18 55 18.0 37.0 1304 60 4.6% 226.3 17.4% 3.5 0.3% 19.3 1.5%
========================== ===== ==== ======== ====== ====== ===== ======== ====== ====== ===== ====== ===== =======
Barns/White
Tank RHBN-0286 12 18 12.0 6.0 578 27 4.7% 83.0 14.4% 0.7 0.1% 3.2 0.6%
============ ===== ==== ======== ====== ====== ===== ======== ====== ====== ===== ====== ===== =======
RHBN-177 18 30 18.0 12.0 540 21 4.0% 78.9 14.6% 2.0 0.4% 11.4 2.1%
========================== ===== ==== ======== ====== ====== ===== ======== ====== ====== ===== ====== ===== =======
RHBN-179 24 36 24.0 12.0 481 22 4.5% 76.7 15.9% 1.5 0.3% 8.1 1.7%
========================== ===== ==== ======== ====== ====== ===== ======== ====== ====== ===== ====== ===== =======
RHBN-182 6 12 6.0 6.0 518 25 4.9% 78.0 15.1% 0.6 0.1% 2.6 0.5%
========================== ===== ==== ======== ====== ====== ===== ======== ====== ====== ===== ====== ===== =======
RHBN-182 24 30 24.0 6.0 946 37 3.9% 152.3 16.1% 3.1 0.3% 17.3 1.8%
========================== ===== ==== ======== ====== ====== ===== ======== ====== ====== ===== ====== ===== =======
Thompson SCH-0922 12 43 12.0 31.0 1427 72 5.1% 333.3 23.4% 4.7 0.3% 24.8 1.7%
============ ===== ==== ======== ====== ====== ===== ======== ====== ====== ===== ====== ===== =======
inc 12 24 12.0 12.0 3168 169 5.3% 792.3 25.0% 10.2 0.3% 52.1 1.6%
========================== ===== ==== ======== ====== ====== ===== ======== ====== ====== ===== ====== ===== =======
SCH-0928 36 48 36.0 12.0 811 42 5.2% 179.5 22.1% 3.2 0.4% 17.4 2.1%
========================== ===== ==== ======== ====== ====== ===== ======== ====== ====== ===== ====== ===== =======
SCH-0931 24 42 24.0 18.0 432 18 4.3% 69.7 16.1% 1.4 0.3% 8.3 1.9%
========================== ===== ==== ======== ====== ====== ===== ======== ====== ====== ===== ====== ===== =======
SCH-0939 36 42 36.0 6.0 1839 53 2.9% 249.1 13.5% 10.8 0.6% 73.4 4.0%
========================== ===== ==== ======== ====== ====== ===== ======== ====== ====== ===== ====== ===== =======
SCH-0942 42 54 42.0 12.0 512 26 5.1% 97.6 19.1% 1.3 0.3% 6.2 1.2%
========================== ===== ==== ======== ====== ====== ===== ======== ====== ====== ===== ====== ===== =======
SCH-0977 6 24 6.0 18.0 692 36 5.2% 129.9 18.8% 0.8 0.1% 3.4 0.5%
========================== ===== ==== ======== ====== ====== ===== ======== ====== ====== ===== ====== ===== =======
SCH-0985 18 36 18.0 18.0 598 29 4.8% 105.4 17.6% 1.2 0.2% 5.5 0.9%
========================== ===== ==== ======== ====== ====== ===== ======== ====== ====== ===== ====== ===== =======
SCH-0996 36 60 36.0 24.0 577 30 5.2% 112.1 19.4% 1.0 0.2% 4.8 0.8%
========================== ===== ==== ======== ====== ====== ===== ======== ====== ====== ===== ====== ===== =======
KO11S-1085 0 6 0.0 6.0 687 33 4.8% 124.1 18.1% 1.1 0.2% 4.8 0.7%
========================== ===== ==== ======== ====== ====== ===== ======== ====== ====== ===== ====== ===== =======
and 72 78 72.0 6.0 743 41 5.5% 161.6 21.7% 2.4 0.3% 12.0 1.6%
========================== ===== ==== ======== ====== ====== ===== ======== ====== ====== ===== ====== ===== =======
Botham WBN-0884 18 30 18.0 12.0 800 31 3.8% 117.6 14.7% 2.9 0.4% 19.4 2.4%
============ ===== ==== ======== ====== ====== ===== ======== ====== ====== ===== ====== ===== =======
WBN-0888 48 54 48.0 6.0 1165 46 4.0% 178.2 15.3% 2.6 0.2% 14.5 1.2%
========================== ===== ==== ======== ====== ====== ===== ======== ====== ====== ===== ====== ===== =======
WBN-0962 30 48 30.0 18.0 544 26 4.8% 90.7 16.7% 1.3 0.2% 5.9 1.1%
========================== ===== ==== ======== ====== ====== ===== ======== ====== ====== ===== ====== ===== =======
Anderson WUD1-0231 24 42 24.0 18.0 2024 93 4.6% 386.9 19.1% 10.3 0.5% 57.0 2.8%
============ ===== ==== ======== ====== ====== ===== ======== ====== ====== ===== ====== ===== =======
inc 30 42 30.0 12.0 2767 126 4.6% 525.6 19.0% 14.2 0.5% 79.0 2.9%
========================== ===== ==== ======== ====== ====== ===== ======== ====== ====== ===== ====== ===== =======
WUD1-0328 18 36 15.6 15.6 612 37 6.0% 136.4 22.3% 1.8 0.3% 8.4 1.4%
========================== ===== ==== ======== ====== ====== ===== ======== ====== ====== ===== ====== ===== =======
WUD1-0373 18 24 18.0 6.0 456 21 4.7% 68.5 15.0% 0.8 0.2% 3.7 0.8%
========================== ===== ==== ======== ====== ====== ===== ======== ====== ====== ===== ====== ===== =======
WUD1-0383 12 52 12.0 40.0 641 29 4.5% 117.4 18.3% 2.5 0.4% 12.4 1.9%
========================== ===== ==== ======== ====== ====== ===== ======== ====== ====== ===== ====== ===== =======
inc 36 42 36.0 6.0 1077 49 4.6% 181.2 16.8% 2.6 0.2% 11.1 1.0%
========================== ===== ==== ======== ====== ====== ===== ======== ====== ====== ===== ====== ===== =======
WUD1-0385 12 24 12.0 12.0 486 23 4.7% 78.9 16.2% 0.8 0.2% 3.6 0.7%
========================== ===== ==== ======== ====== ====== ===== ======== ====== ====== ===== ====== ===== =======
Laker WUD2C-0267 60 90 60.0 30.0 477 21 4.4% 78.4 16.4% 1.8 0.4% 10.1 2.1%
============ ===== ==== ======== ====== ====== ===== ======== ====== ====== ===== ====== ===== =======
WUD2C-0658 36 48 36.0 12.0 1050 43 4.1% 183.2 17.4% 5.3 0.5% 30.9 2.9%
========================== ===== ==== ======== ====== ====== ===== ======== ====== ====== ===== ====== ===== =======
inc 36 45 36.0 9.0 1638 64 3.9% 279.1 17.0% 9.0 0.6% 53.6 3.3%
========================== ===== ==== ======== ====== ====== ===== ======== ====== ====== ===== ====== ===== =======
WUD2C-0665 18 24 18.0 6.0 615 35 5.7% 132.2 21.5% 1.2 0.2% 4.5 0.7%
========================== ===== ==== ======== ====== ====== ===== ======== ====== ====== ===== ====== ===== =======
WUD2C-0665 36 42 36.0 6.0 553 19 3.5% 98.0 17.7% 4.7 0.9% 27.1 4.9%
========================== ===== ==== ======== ====== ====== ===== ======== ====== ====== ===== ====== ===== =======
WUD2C-0788 48 72 48.0 24.0 481 18 3.8% 78.2 16.3% 2.9 0.6% 18.7 3.9%
========================== ===== ==== ======== ====== ====== ===== ======== ====== ====== ===== ====== ===== =======
(1) Retained composite pulps from Historic Reverse Circulation, Rotary Air Blast and Aircore drillholes
Table 2 : Previously reported gold intersections from reported re-analysed drill holes (intersections presented as downhole).
Prospect Hole ID From To Interval Au (g/t) Including
Barns RCBN-0312 42 43 1 11.24
143 146 3 1.35
===== ==== ========= ========= =======================
151 153 2 1.17
===== ==== ========= ========= =======================
163 164 1 1.54
===== ==== ========= ========= =======================
170 171 1 4.02
===== ==== ========= ========= =======================
185 186 1 1.82
===== ==== ========= ========= =======================
194 196 2 1.17
===== ==== ========= ========= =======================
White including 1m @ 3.16g/t
Tank RHBN-179 55 59 4 1.36 Au from 56m
===== ==== ========= ========= =======================
Anderson WUD1-0231 79 80 1 1.01
===== ==== ========= ========= =======================
Laker WUD2C-0652 48 49 1 1.00
===== ==== ========= ========= =======================
Laker WUD2C-0637 45 46 1 0.84
============ ===== ==== ========= ========= =======================
Table 3 : Drillhole collar details for all reported re-analysed drillholes
Location Hole_ID Easting Northing RL Depth Dip Azimuth Re-analysed samples
Anderson ULY-1111 554,807 6,353,923 110 56 -90 0 10
Anderson WUD1-0231 554,930 6,355,574 139 85 -90 0 13
Anderson WUD1-0232 555,551 6,355,140 121 59 -90 0 5
Anderson WUD1-0328 555,077 6,355,624 138 180 -60 270 15
Anderson WUD1-0373 556,629 6,354,971 120 69 -90 0 12
Anderson WUD1-0379 556,629 6,355,571 132 46 -90 0 8
Anderson WUD1-0380 555,729 6,354,771 120 37 -90 0 7
Anderson WUD1-0383 555,429 6,354,771 120 55 -90 0 10
Anderson WUD1-0385 555,079 6,355,371 130 73 -90 0 13
Anderson WUD1-0499 554,879 6,355,371 132 80 -90 0 19
Barns ACBN-165 543,220 6,366,614 117 48 -90 0 8
Barns ACBN-194 540,428 6,365,172 126 66 -90 0 11
Barns RCBN-0312 542,228 6,366,222 122 216 -60 90 190
Barns RHBN-177 541,630 6,365,871 130 51 -90 0 9
Barns RHBN-188 540,717 6,365,148 128 51 -90 0 8
Botham WBN-0880 550,129 6,360,171 146 52 -90 0 9
Botham WBN-0882 550,529 6,360,171 141 34 -90 0 6
Botham WBN-0884 549,929 6,360,771 142 61 -90 0 11
Botham WBN-0888 550,729 6,360,771 140 73 -90 0 6
Botham WBN-0896 552,329 6,357,771 150 82 -90 0 19
Botham WBN-0952 551,886 6,358,171 158 105 -90 0 18
Botham WBN-0962 552,679 6,357,771 157 91 -90 0 16
Boycott COR11-0201 572,730 6,357,881 158 60 -90 0 4
Boycott COR11-0210 571,327 6,357,975 160 52 -90 0 7
Boycott COR11-0211 571,228 6,357,952 160 22 -90 0 4
Boycott COR11-0214 570,928 6,357,971 161 43 -90 0 1
Bradman ACBN-195 539,529 6,364,371 113 40 -90 0 7
Empire WUD9-1033 556,329 6,364,871 177 74 -90 0 13
Empire WUD9-1038 556,829 6,364,871 174 70 -90 0 12
Empire WUD9-1041 557,129 6,364,871 179 55 -90 0 10
Empire WUD9-1047 555,824 6,364,471 180 79 -90 0 14
Empire WUD9-1048 556,229 6,364,471 180 88 -90 0 15
Empire WUD9-1053 556,729 6,364,471 180 85 -90 0 15
Hadlee KO3-0421 572,729 6,337,671 100 92 -90 0 6
Hadlee KO3-0429 573,329 6,336,571 100 52 -90 0 9
Hadlee KO3-0441 572,729 6,336,771 100 40 -90 0 7
Hadlee KO3-0451 572,529 6,335,871 104 73 -90 0 13
Hadlee KO3-0504 572,977 6,335,667 110 61 -90 0 11
Hadlee KO3-0525 573,029 6,334,871 113 57 -90 0 17
Hadlee KO3-0532 572,629 6,334,871 111 69 -90 0 1
Hadlee KO3-0543 573,229 6,336,221 100 40 -90 0 7
Hadlee KY1-0397 568,629 6,338,621 90 52 -90 0 9
Hadlee KY1-0399 568,329 6,338,621 90 55 -90 0 10
Laker WUD2C-0262 567,731 6,363,269 200 72.2 -90 0 1
Laker WUD2C-0267 568,126 6,362,072 200 107 -90 0 14
Laker WUD2C-0302 566,924 6,362,772 200 88.9 -90 0 14
Laker WUD2C-0637 566,329 6,362,271 200 105 -90 0 33
Laker WUD2C-0652 567,329 6,362,671 200 91 -90 0 9
Laker WUD2C-0658 566,329 6,362,871 201 73 -90 0 17
Laker WUD2C-0665 567,129 6,363,271 200 79 -90 0 24
Laker WUD2C-0781 567,329 6,361,884 190 79 -90 0 14
Laker WUD2C-0788 567,729 6,361,868 192 88 -90 0 15
Laker WUD2C-0797 567,281 6,362,274 199 58 -90 0 10
Laker WUD2C-0802 567,527 6,362,281 199 46 -90 0 8
Laker WUD2C-0821 566,830 6,363,072 200 103 -90 0 18
Laker WUD2C-0833 566,378 6,363,267 200 97 -90 0 17
Ponting WUD2N-0219 569,000 6,367,398 180 70 -90 0 12
Thompson KO11S-1085 574,729 6,341,671 110 81 -90 0 14
Thompson KO11S-1091 574,929 6,341,171 110 56 -90 0 1
Thompson KO11S-1092 574,929 6,340,971 110 42 -90 0 7
Thompson KO11S-1094 575,129 6,341,171 110 54 -90 0 9
Thompson KO11S-1104 574,329 6,341,371 110 58 -90 0 9
Thompson SCH-0922 578,329 6,343,371 122 43 -90 0 8
Thompson SCH-0924 578,329 6,343,771 130 58 -90 0 10
Thompson SCH-0928 578,329 6,341,971 120 55 -90 0 10
Thompson SCH-0931 579,129 6,342,171 126 49 -90 0 9
Thompson SCH-0933 579,129 6,341,771 120 58 -90 0 2
Thompson SCH-0939 581,129 6,341,571 144 70 -90 0 12
Thompson SCH-0942 581,129 6,340,971 140 69 -90 0 12
Thompson SCH-0944 577,259 6,341,971 112 58 -90 0 10
Thompson SCH-0977 577,259 6,342,471 119 54 -90 0 8
Thompson SCH-0985 578,329 6,342,321 120 40 -90 0 7
Thompson SCH-0996 581,129 6,342,121 147 76 -90 0 13
Thompson SCH-1009 576,329 6,342,171 128 49 -90 0 9
White Tank RHBN-0276 543,219 6,365,741 120 42 -90 0 8
White Tank RHBN-0286 542,240 6,364,697 130 25 -90 0 5
White Tank RHBN-179 542,513 6,365,075 130 69 -90 0 32
White Tank RHBN-182 542,229 6,365,071 130 42 -90 0 0
============ ======== ========== ==== ====== ==== ========
Appendix 1: JORC Code, 2012 Edition - Table 1
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, * Historic RC, Rotary Air Blast ("RAB") and aircore
random chips, or specific specialised industry drilling methods have been employed at Barns, White
standard measurement tools appropriate to the Tank, Clarke and Baggy Green prospects since 2000.
minerals under investigation, such as downhole gamma
sondes, or handheld XRF instruments, etc). These
examples should not be taken as limiting the broad * Sample composites vary between drilling techniques,
meaning of sampling. 4-6m composites have been used for aircore and RAB
drilling. RC drilling composites have previously been
done at 4m, samples with elevated in gold were
* Include reference to measures taken to ensure sample re-assayed at 1m.
representivity and the appropriate calibration of any
measurement tools or systems used.
* Samples were initially submitted to ALS Laboratory
Services Pty Ltd ("ALS") in Adelaide, South Australia,
* Aspects of the determination of mineralisation that for Fire Assay (Au) and multi-element analysis.
are Material to the Public Report.
* Pulps have been stored at Challenger Geological
* In cases where 'industry standard' work has been done services, Adelaide. Samples were extracted based on
this would be relatively simple (eg 'reverse geological review and were submitted to the Genalysis
circulation drilling was used to obtain 1 m samples Intertek Laboratories, Adelaide, pulps were
from which 3 kg was pulverised to produce a 30 g re-pulverised and re-analysed for lanthanides.
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 * RAB and aircore drilling has occurred in
hammer, rotary air blast, auger, Bangka, sonic, etc) unconsolidated regolith and saprolite.
and details (eg core diameter, triple or standard
tube, depth of diamond tails, face-sampling bit or
other type, whether core is oriented and if so, by * Aircore hammer (slimline RC) in hard rock (90mm).
what method, etc).
* Reverse circulation drilling has been performed by
various contractors, all drilling has been carried
out with a 140mm face Samling drill bit.
Drill sample
recovery * Method of recording and assessing core and chip * Sample recoveries and moisture content were recorded
sample recoveries and results assessed. during drilling, with details filed and uploaded to
the drillhole database.
* Measures taken to maximise sample recovery and ensure
representative nature of the samples. * In general, sample through all drilling methods has
been good.
* Whether a relationship exists between sample recovery
and grade and whether sample bias may have occurred * Drilling procedures ensure that the sample system and
due to preferential loss/gain of fine/coarse cyclone were cleaned at the completion of each hole
material. (in all programmes).
* No relationships between sample recovery and grade
have been identified.
Logging
* Whether core and chip samples have been geologically * All drill samples were logged by an experienced
and geotechnically logged to a level of detail to geologist at the time of drilling. Lithology, colour,
support appropriate Mineral Resource estimation, weathering and moisture were documented.
mining studies and metallurgical studies.
* All drilled metres were logged.
* Whether logging is qualitative or quantitative in
nature. Core (or costean, channel, etc) photography.
* Logging is generally qualitative in nature.
* The total length and percentage of the relevant
intersections logged. * All RC drill metres have been geologically logged.
Sub-sampling
techniques * If core, whether cut or sawn and whether quarter, * Samples from Aircore, RAB and bedrock RC holes have
and sample half or all core taken. been collected as 1m samples and sampled as 6m
preparation composites. Subject to results, 1m resplits were
historically generated by riffle splitting if dry,
* If non-core, whether riffled, tube sampled, rotary wet samples were split using a trowel.
split, etc and whether sampled wet or dry.
* For all sample types, the nature, quality and * Additional sub-sampling was performed through the
appropriateness of the sample preparation technique. preparation and processing of samples according to
the laboratory's internal protocols.
* Quality control procedures adopted for all
sub-sampling stages to maximise representivity of * Internal lab duplicates and standards were run at a
samples. frequency of 1 in 20 samples.
* Measures taken to ensure that the sampling is * 120 g Pulp sample sizes were appropriate for the
representative of the in situ material collected, material being sampled.
including for instance results for field
duplicate/second-half sampling.
* Whether sample sizes are appropriate to the grain
size of the material being sampled.
Quality of
assay data * The nature, quality and appropriateness of the * Pulps were retrieved from storage (Challenger
and assaying and laboratory procedures used and whether Geological Services) and re-submitted to Genalysis
laboratory the technique is considered partial or total. Intertek Laboratories, Adelaide.
tests
* For geophysical tools, spectrometers, handheld XRF * Historically, samples were analysed by ALS, Adelaide,
instruments, etc, the parameters used in determining using AU-GA22 50 g charge. Muti-elements (48) for all
the analysis including instrument make and model, samples we analysed using ME-MS61, a 4-acid digest
reading times, calibrations factors applied and their method with an ICP-MS finish.
derivation, etc.
* Gold quantity was analysed using 50 g fire assay
* Nature of quality control procedures adopted (eg techniques (FA50/OE04) that utilise a 50 g lead
standards, blanks, duplicates, external laboratory collection fire assay with ICP-OES finish to deliver
checks) and whether acceptable levels of accuracy (ie reportable precision to 0.005 ppm.
lack of bias) and precision have been established.
* Multi-element geochemistry was digested by four acid
ICP-MS and analysed for Ag, As, Bi, Ca, Cd, Ce, Co,
Cr, Cs, Cu, Fe, Li, Mg, Mn, Mo, Ni, Pb, Pd, Pt, Sb,
Se, S, Sn, Sr, Te, U, V, W, Y and Zn.
* Saprolite zones were identified by logging and chip
tray review.
* Pulp samples were identified from the historic
dataset to analyse for additional lanthanide elements
by 4-acid ICP-MS and analysed for Pr, Nd, Sm, Eu, Gd,
Tb, Dy, Ho, Er, Tm, Yb, Lu.
* Field blanks and standards were previously submitted
at a frequency of 1 in 20 samples.
* Reported assays are to acceptable levels of accuracy
and precision.
Metallurgical Test Work performed by the Australian Nuclear
Science and Technology Organisation
(ANSTO). Samples were 40g sourced from retained 1m composite
pulp samples.
* Standard desorption conditions:
-- 0.5M (NH4)2SO4 as lixiviant
-- pH 4
-- 30 minutes
-- Ambient temperature of 22 deg C; and
-- 2 wt% solids density
* Prior to commencing the test work, a bulk 0.5 M
(NH4)2SO4 solution was prepared as the synthetic
lixiviant and the pH adjusted to 4 using H2SO4.
* Each of the leach tests was conducted on 40 g of dry,
pulverised sample and 1960 g of the lixiviant in a 2
L titanium/ stainless steel baffled leach vessel
equipped with an overhead stirrer.
* Addition of solid to the lixiviant at the test pH
will start the test. 1 M H2SO4 was utilised to
maintain the test pH for the duration of the test, if
necessary. The acid addition was measured.
-- Acidic water as lixiviant (using H2SO4)
-- pH1
-- Duration: 6 hours
-- Ambient temperature of 22degC
-- 2 wt% density
* At the completion of each test, the final pH was
measured, the slurry was vacuum filtered to separate
the primary filtrate.
* 2 hour liquor sample was taken
* Final residue solids was thoroughly water washed (150
g DI/ 40 g solid), dried and analysed.
* The primary filtrate was analysed as follows: --
ICP-MS for Ce, Dy, Er, Eu, Gd, Ho, La, Lu, Mn, Nd, Pb,
Pr, Sc, Sm, Tb, Th, Tm, U, Y, Yb (ALS, Brisbane); --
ICP-OES for Al, Ca, Fe, K, Mg, Mn, Na, Si (in-house,
ANSTO);
* The water wash was stored but not analysed.
Verification
of sampling * The verification of significant intersections by * Sampling data was recorded in field books, checked
and assaying either independent or alternative company personnel. upon digitising, and transferred to database.
* The use of twinned holes. * Compositing of assays was undertaken and reviewed by
Cobra staff.
* Documentation of primary data, data entry procedures,
data verification, data storage (physical and * Original copies of lab assay data are retained
electronic) protocols. digitally on the Cobra server for future reference.
* Discuss any adjustment to assay data. * Physical copies of field sampling books and field
geological logs are retained by Cobra for future
reference.
* Close spacing (
* All intersection compositing has been done using
datamine downhole compositor with the following
parameters:
* Gold compositing:
* 2020-2021 RC drilling 0.2 and 0.6 cut-offs with a
maximum internal dilution of 3m. 02. g/t Au cut-off
used to identify mineralisation continuity.
* All drilling prior to 2020 has been composited at a
0.5g/t cut-oof with a maximum internal dilution of
3m.
* Rare Earth Mineralisation
* Intersections calculated at 350 ppm and 500 ppm
cut-offs.
* Drillholes with 1m downhole composites have been
composed with a maximum of 4m internal dilution
* Drillholes with 2-6m downhole composites have been
composed with a maximum of 6m internal dilution.
* Significant intercepts have been prepared by Mr
Rupert Verco and reviewed by Mr Robert Blythman.
Location of
data points * Accuracy and quality of surveys used to locate drill * Collar locationshave either been surveyed using a
holes (collar and downhole surveys), trenches, mine DGPS (+/-0.5m accuracy) and recent RC drilling
workings and other locations used in Mineral Resource surveyed using Leica CS20 GNSS base and rover with
estimation. 0.05cm instrument precision.
* Specification of the grid system used. * Downhole surveys were undertaken for all RC drilling
* Quality and adequacy of topographic control. * Drillhole lift in aircore and RAB drilling of
saprolite is considered minimal.
* Collar locations from Hagstrom were surveyed using a
DGPS in GDA2020 which were then converted to MGA94
Zone 53.
* Downhole survey azimuths have been converted from
true north to geodetic datum GDA 94 zone 53.
Data spacing
and * Data spacing for reporting of Exploration Results. * Drill lines are variably 100-200m apart at Baggy
distribution Green, hole spacings are generally 50m (RC) which are
infilled with air core.
* Whether the data spacing and distribution is
sufficient to establish the degree of geological and
grade continuity appropriate for the Mineral Resource * Drill line spacing at Clarke is nominally 100m with
and Ore Reserve estimation procedure(s) and hole spacings being 50m.
classifications applied.
* Re-analysed drillholes have been selected to provide
* Whether sample compositing has been applied. approximately 200m by 200m coverage
* RC hole dips vary between 60 and 80 degrees.
* All re-assayed Aircore and RAB holes are vertical.
* No sample compositing has been applied.
Orientation
of data in * Whether the orientation of sampling achieves unbiased * Drill lines orientated east-west across NNE-SSW
relation to sampling of possible structures and the extent to trending mineralised zones at both Baggy Green and
geological which this is known, considering the deposit type. Clarke.
structure
* If the relationship between the drilling orientation * Insufficient geological information is known at
and the orientation of key mineralised structures is regional prospects.
considered to have introduced a sampling bias, this
should be assessed and reported if material.
* Rare Earth intercepts have been presented as both
downhole and true width intercepts. The nature of
mineralisation reflects the weathering profile of the
saprolite and is therefore horizontal in nature.
Reported true widths are calculated as vertical.
Sample
security * The measures taken to ensure sample security. * Pulps have been stored at a secure facility between
the initial analysis and the time of re-assay.
* Desired pulps were recovered from storage, sample and
job numbers cross referenced with records.
* Pulps were transported from storage to the Laboratory
by Cobra Resources staff.
Audits or
reviews * The results of any audits or reviews of sampling * No audit or review has been undertaken.
techniques and data.
* Genalysis Intertek Laboratories Adelaide are a
National Association of Testing Authorities ("NATA")
accredited laboratory, recognition of their
analytical competence.
============= ============================================================ ================================================================
Appendix 2: 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 land tenure * Type, reference name/number, location and ownership * The Clarke and Baggy Green prospects fall on EL6131.
status including agreements or material issues with third The tenement is 100% wholly owned by Peninsula
parties such as joint ventures, partnerships, Resources Ltd. The tenements are covered by the
overriding royalties, native title interests, Wudinna Heads of agreement that entitles Lady Alice
historical sites, wilderness or national park and Mines ("LAM") to earn-in up to 75%.
environmental settings.
* Newcrest Mining Limited retains a 1.5% NSR royalty
* The security of the tenure held at the time of over future mineral production from both licences.
reporting along with any known impediments to
obtaining a licence to operate in the area.
* Baggy Green, Clarke, Laker and the IOCG targets are
located within Pinkawillinie Conservation Park.
Native Title Agreement has been negotiated with the
NT Claimant and has been registered with the SA
Government.
* Aboriginal heritage surveys have been completed over
the Baggy Green project area, with no sites located
in the immediate vicinity.
* A Native Title Agreement is in place with the
relevant Native Title party.
* Exploration and mining activities are permitted in
the park subject to meeting environmental conditions
defined by the SA Government.
* A Compensation agreement is in place with the
landowner.
* Exploration tenements are in good standing.
Exploration done
by other parties * Acknowledgment and appraisal of exploration by other * On-ground exploration completed prior to Andromeda
parties. Metals' work was limited to 400m spaced soil
geochemistry completed by Newcrest Mining Limited
over the Barns prospect.
* Other than the flying of regional airborne geophysics
and coarse spaced ground gravity, there has been no
recorded exploration in the vicinity of the Baggy
Green deposit prior to Andromeda Metals' work.
Geology
* Deposit type, geological setting and style of * The deposits are considered to be either lode gold or
mineralisation. intrusion type mineralisation related to the 1590 Ma
Hiltaba/GRV tectonothermal event.
* Gold mineralisation has a spatial association with
mafic intrusions/granodiorite alteration and is
associated with metasomatic alteration of host rocks.
* Rare earth minerals occur within the kaolinised
saprolite horizon. Preliminary XRD analyses performed
by the CSIRO supports IAC mineralisation. Florencite
and monazite were also detected. Further work is
planned to define mineralogy and nature of mineral
occurrence.
* A summary of all information material to the * The report includes a tabulation of drillhole collar
understanding of the exploration results including a information and associated interval grades to allow
tabulation of the following information for all an understanding of the results reported herein.
material drill holes:
o easting and northing of the drill hole collar
o elevation or RL (Reduced Level - elevation above sea
level in metres) of the drill hole
collar
o dip and azimuth of the hole
o down hole length and interception depth
o hole length.
* If the exclusion of this information is justified on
the basis that the information is not material and
this exclusion does not detract from the
understanding of the report, the Competent Person
should clearly explain why this is the case.
Data aggregation
methods * In reporting Exploration Results, weighting averaging * Reported summary intercepts are weighted averages
techniques, maximum and/or minimum grade truncations based on length.
(eg cutting of high grades) and cut-off grades are
usually material and should be stated.
* Rare earth intercepts have been presented as both
downhole and true width intercepts. The nature of
* Where aggregate intercepts incorporate short lengths mineralisation reflects the weathering profile of the
of high-grade results and longer lengths of low-grade saprolite and is therefore horizontal in nature.
results, the procedure used for such aggregation
should be stated and some typical examples of such
aggregations should be shown in detail. * Rare earth results are reported with a 350 ppm TREO
cut-over grade and a maximum internal dilution of 6m.
* The assumptions used for any reporting of metal
equivalent values should be clearly stated. * Assayed intervals through reported intersects are
tabulated in the body of this report.
* No metal equivalent values have been calculated.
* REE analysis was originally reported in elemental
form and has been converted to relevant oxide
concentrations in line with industry standards.
Conversion factors tabulated below:
Element Oxide Factor
Cerium CeO2 1.2284
Dysprosium Dy2O3 1.1477
Erbium Er2O3 1.1435
Europium Eu2O3 1.1579
Gadolinium Gd2O3 1.1526
Holmium Ho2O3 1.1455
Lanthanum La2O3 1.1728
Lutetium Lu2O3 1.1371
Neodymium Nd2O3 1.1664
Praseodymium Pr2O3 1.1703
Scandium Sc2O3 1.5338
Samarium Sm2O3 1.1596
Terbium Tb2O3 1.151
Thulium Tm2O3 1.1421
Yttrium Y2O3 1.2699
Ytterbium Yb2O3 1.1387
=======
* The reporting of REE oxides is done so in accordance
with industry standards with the following
calculations applied:
* TREO = La2O3 + CeO2 + Pr6O11 + Nd2O3 + Sm2O3 + Eu2O3
+ Gd2O3 + Tb4O7 + Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 +
Yb2O3 + Lu2O3 + Y2O3
* CREO = Nd2O3 + Eu2O3 + Tb4O7 + Dy2O3 + Y2O3
* LREO = La2O3 + CeO2 + Pr6O11 + Nd2O3
* HREO = Sm2O3 + Eu2O3 + Gd2O3 + Tb4O7 + Dy2O3 + Ho2O3
+ Er2O3 + Tm2O3 + Yb2O3 + Lu2O3 + Y2O3
* NdPr = Nd2O3 + Pr6O11
* TREO-Ce = TREO - CeO2
* %Nd = Nd2O3/ TREO
* %Pr = Pr6O11/TREO
* %Dy = Dy2O3/TREO
* %HREO = HREO/TREO
* %LREO = LREO/TREO
Relationship
between * These relationships are particularly important in the * Pulp re-analysis has been performed to confirm the
mineralisation reporting of Exploration Results. occurrence of REE mineralisation. Preliminary results
widths and support unbiased testing of mineralised structures.
intercept
lengths * If the geometry of the mineralisation with respect to
the drill hole angle is known, its nature should be * Holes drilled have been drilled in several
reported. orientations due to the unknown nature of gold
mineralisation, or to test the local orientation of
gold mineralisation.
* If it is not known and only the downhole lengths are
reported, there should be a clear statement to this
effect (eg 'downhole length, true width not known').
Diagrams
* Appropriate maps and sections (with scales) and * Plan and section maps are referenced that demonstrate
tabulations of intercepts should be included for any results of interest.
significant discovery being reported. These should
include, but not be limited to, a plan view of drill
hole collar locations and appropriate sectional
views.
Balanced
reporting * Where comprehensive reporting of all Exploration * Referenced plans detail the extent of drilling and
Results is not practicable, representative reporting the locations of both high and low grades.
of both low and high grades and/or widths should be Comprehensive results are reported.
practiced to avoid misleading reporting of
Exploration Results.
Other
substantive * Other exploration data, if meaningful and material, * Significant intersects of reported previous
exploration should be reported including (but not limited to): intersections are tabulated for reported or displayed
data geological observations; geophysical survey results; holes.
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 * Further Pulp re-analysis is planned to test the
tests for lateral extensions or depth extensions or lateral extent of REE mineralisation over previously
large-scale step-out drilling). drilled areas. Follow-up RAB and RC drilling is
planned to test for possible extensions. The complete
results from this programme will form the foundation
* Diagrams clearly highlighting the areas of possible for a maiden resource estimation.
extensions, including the main geological
interpretations and future drilling areas, provided
this information is not commercially sensitive.
=============== ================================================================= ================================================================
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