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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Crusader Resou. | LSE:CAS | London | Ordinary Share | AU000000CAS1 | ORD NPV (DI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 1.375 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMCAS
RNS Number : 7527Q
Crusader Resources
08 June 2018
8 June 2018
Crusader Resources Limited
("Company" or "Crusader")
Juruena Gold Project Drilling Update
Crusader Resources (ASX:CAS, AIM: CAS) is pleased to provide the following update on the recent drilling campaign at three previously un-drilled prospects within the Juruena Gold project area. The commencement of the Company's initial 2018 exploration programme over its highly prospective and high grade Juruena and Novo Astro Gold Projects situated within the Alta Floresta belt in western Brazil was announced on the ASX on 16 January 2018.
This initial exploration programme is focused on several new targets identified in line with the main trend in the Juruena Project region, using smaller drilling rigs suitable for operation during the wet season.
The programme represented approximately 250m of diamond drilling across 5 holes with an average depth of 50m. A full table of significant intercepts are presented in Table 2 in the Appendix below, with better results received including:
Juruena Significant Results
Hot Features
Premium
-- 0.7m @ 12.22 g/t Au from 29m in JRND-071 at the Daniel target
-- 1.57m @ 3.17 g/t Au from 37m in JRND-072 at the Izau III target
-- 3.03m @ 0.60 g/t Au from 23.5m in JRND-073 at the Panelas target
Commenting on the exploration programme, Marcus Engelbrecht, Managing Director of Crusader Resources, said:
"I am delighted to be able to provide an update on the recent drilling campaign at Juruena, where we have generated positive results from three new prospects. Juruena is a very exciting project, located within the highly prospective Alta Floresta belt that is generating significant interest from major mining companies. We look forward to updating shareholders on further progress at Juruena as the project develops."
The drilling campaign was the first pass exploration conducted over new prospects within the Juruena project area aimed at evaluating the mineral potential at tenements 866.578/2006 and 866.247/2011 (see Figure 2 in the ASX announcement dated 8 June 2018).
These represent new targets generated by the Crusader exploration team with successful exploration representing exciting potential to expand the pipeline of prospects which could become significant satellite targets.
Please refer to the ASX announcement dated 8 June 2018 for the following:
- Figures 1 and 2 for images of Tenements and Prospects
- Figure 3 for images of drill pad preparation at the Daniel target (the Daniel target especially showed high sulphide content)
- Figure 4 for old workings at the Izaú and Daniel Garimpo areas - Figure 5 for image of sample from hole JRND-071 - Figure 6 for Izaú and Daniel Garimpo areas - new 2018 drill map - Figure 7 for image of high sulphide ore at the Izaú target
- Figure 8 for a map of Alta Floresta Gold Belt showing tenement holdings around the Juruena Gold Project
Juruena Gold Project
Crusader's Juruena Project represents 23 tenements over 770km(2) and has returned some of the highest gold results across the belt, with diamond drilling delivering several extremely high-grade intercepts, including two in excess of 1,000 g/t (see ASX announcement dated 22 December 2016 for details of all relevant intercepts). The current indicated resource at Juruena has an average grade >18g/t (see Table 1 in the Appendix below) with the 2018 programme focused on developing a larger scale resource.
Alta Floresta Belt
Crusader has a significant position of over 770km(2) of the Alta Floresta Belt, which is located in the northern area of the Mato Grosso State in the mid-western region of Brazil. Alta Floresta is a belt of placer and intrusion-related gold deposits striking for 600km in the northern border of the Paleoproterozoic Juruena Orogenic Belt. This area has also recently attracted the attention of some of the big miners.
During the latter half of 2017, approximately 2.65 million hectares of copper and gold exploration permit applications were filed with the Brazilian Mining Department, covering virtually all the remaining mineral rights in the district. (Figure 3). Companies now active in this region include Vale, Anglo American and Votorantim which underpins the prospectivity of the belt and its capacity to host world-class sized deposits.
The Company's ASX announcements can be found at the following link: http://www.crusaderresources.com/investor-relations/asx-announcements/
For further information, please contact:
Mr. Paul Stephen Investor Relations
Executive Director Office (Aus): +61 8
9320 7500
Office (Aus): +61 8 9320 Email: admin@crusaderresources.com
7500
Email: paul@crusaderresources.com
Smith & Williamson Corporate Camarco
Finance Limited
Nominated Adviser Financial PR
Azhic Basirov/Katy Birkin/Ben Gordon Poole / Nick
Jeynes Hennis
+44(0)20 3757 4997 /
+44(0)207 131 4000 +44(0)20 3781 8330
Hannam & Partners
Joint Broker
Neil Passmore / Andrew
Chubb/Ernie Bell
+44 (0)20 7907 8500
Appendix
Table 1: Juruena Gold Project Mineral Resource estimate (JORC 2012)
Prospect Resource Lower cut-off Tonnes Grade (Au Contained
Name (Mineral Category (g/t Au) (t) g/t) gold (oz)
Resources
Category)
Dona Maria Indicated 2.5 67,800 13.7 29,800
----------- -------------- ---------- ---------- -----------
Inferred 2.5 148,500 12.2 58,200
---------------------------- -------------- ---------- ---------- -----------
Dona Maria - Subtotal 216,300 12.7 88,000
---------- ---------- -----------
Querosene Indicated 2.5 31,200 28.4 28,500
----------- -------------- ---------- ---------- -----------
Inferred 2.5 188,700 14.7 89,300
---------------------------- -------------- ---------- ---------- -----------
Querosene - Subtotal 219,900 16.7 117,800
---------- ---------- -----------
Total Indicated 99,000 18.3 58,300
---------- ---------- -----------
Total Inferred 337,200 13.6 147,500
---------- ---------- -----------
Total high-grade ounces 436,200 14.7 205,800
---------- ---------- -----------
Crentes Inferred 1.0 846,450 2.0 55,100
----------- -------------- ---------- ---------- -----------
Total combined Inferred Mineral
Resource 1,282,650 6.3 260,900
---------- ---------- -----------
Note: Appropriate rounding applied. Table includes updated mineral resource estimates for Querosene and Dona Maria, Crentes remains the same as per the 2015 resource estimate. For further information, please see the section below: Summary of Resource Estimate and Reporting Criteria.
Table 2: Significant intercepts from Juruena Drilling
Prospect Hole ID Final Easting Northing RL(m Azimuth Dip From (m) To (m) Interval Au g/t
name Depth (m) (m) (m)
DANIEL JRND-071 40.65 344401 8982576 264 0.00 -55 29.30 30.00 0.70 12.23
IZAU III JRND-072 49.55 344465 8982781 278 160.00 -55 37.00 38.57 1.57 3.17
PANELAS JRND-073 49.80 335131 8981899 248 0.00 -55 23.51 26.54 3.03 0.60
PANELAS JRND-074 50.25 335221 8981835 205 0.00 -55 NSI*
PANELAS JRND-075 50.65 334932 8981921 218 200.00 -55 NSI*
------- ---------
*NSI- No significant Intercepts
About Crusader
Crusader Resources Limited (ASX:CAS, AIM: CAS) is a minerals exploration and development company listed on the Australian Securities Exchange and the AIM market of the London Stock Exchange. Its major focus is Brazil; a country Crusader believes is vastly underexplored and which offers high potential for the discovery of world class mineral deposits.
Crusader has two key Gold Assets;
Borborema Gold Project
The Borborema Gold Project is in the Serido area of the Borborema province in north-eastern Brazil. It is 100% owned by Crusader and consists of three mining leases covering a total area of 29 km(2) including freehold title over the main prospect area.
The Borborema Gold Project benefits from a favourable taxation regime, existing on-site facilities and excellent infrastructure such as buildings, grid power, water, sealed roads and is close to major cities and regional centres. The project's Ore Reserve includes Proven and Probable Ore Reserves of 1.61Moz of mineable gold from 42.4Mt @ 1.18g/t (0.4 & 0.5g/t cut-offs for oxide & fresh). The measured, indicated and inferred Mineral Resource Estimate of 2.43Moz @ 1.10g/t gold, remains open in all directions.
Juruena Gold Project
The Juruena Gold Project is located in the highly prospective Juruena-Alta Floresta Gold Belt, which stretches east-west for >400km and has historically produced more than 7Moz of gold from 40 known gold deposits.
The Juruena Project has been worked extensively by artisanal miners (garimpeiros) since the 1980s, producing 500koz in that time. Historically there is a database of more than 30,000 meters of drilling and extensive geological data.
Competent Person Statements
Juruena mineral resource estimate
The information in this announcement that relates to the Mineral Resource estimate for the Juruena Project was first reported in accordance with ASX Listing Rule 5.8 on 22 December 2016. Crusader confirms that it is not aware of any new information or data that materially affects the information included in the announcement of 22 December 2016 and that all material assumptions and technical parameters underpinning the Mineral Resource estimate continue to apply and have not materially changed.
Exploration results
The information in this announcement relating to exploration results for the Juruena Project and Novo Astro Project is based on and fairly represents information and supporting information compiled by Mr Robert Smakman. Mr Smakman is the former Managing Director of the Company and now acts as an independent consultant. Mr Smakman is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Smakman has consented to the form and context in which the exploration results and supporting information are presented in this announcement.
JORC Code, 2012 Edition - Table 1 Report
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections)
Sampling
techniques * Nature and quality of sampling (e.g. cut channels, * Diamond drill samples: Diamond drilling of gold
random chips, or specific specialised industry prospects using an industry standard wireline drill
standard measurement tools appropriate to the rig. Core size was typically HQ, although some areas
minerals under investigation, such as down hole gamma were drilled at NQ size.
sondes, or handheld XRF instruments, etc.). These
examples should not be taken as limiting the broad
meaning of sampling.
* Include reference to measures taken to ensure sample
representivity and the appropriate calibration of any * Diamond drill sample: diamond core was split in half
measurement tools or systems used. lengthways and sampled typically at 1m intervals,
although sampling was to geological boundaries and
hence sample length ranged from 0.5 - 4m. Samples
were placed in high density plastic sample bags and
immediately sealed shut with cable ties. Half core
was retained on site in Juruena for future reference.
* Aspects of the determination of mineralisation that
are Material to the Public Report.
* Sample mass varied according to the sample length,
typically mass varied between 1- 6kg. Samples were
sent for analysis at an independent lab and gold was
determined via 50g fire assay. All efforts were made
to ensure sample contamination was minimised and that
all samples could be deemed representative of the
interval that they originated from. Based on
statistical analysis of field duplicates, there is no
evidence to suggest samples are not representative.
* Crusader's current procedures are in line with
* In cases where 'industry standard' work has been done industry standards, however samples in excess of
this would be relatively simple (e.g. 'reverse 100g/t gold are re-assayed using a different lower
circulation drilling was used to obtain 1 m samples detection limit (10ppb vs 5ppb).
from which 3 kg was pulverised to produce a 30g
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 (e.g.
submarine nodules) may warrant disclosure of detailed
information.
Drilling
techniques * Drill type (e.g. core, reverse circulation, open-hole * Diamond drill-holes of HQ and NQ diameter. Down-hole
hammer, rotary air blast, auger, Bangka, sonic, etc.) surveys were not undertaken for the drilling.
and details (e.g. core diameter, triple or standard Drilling was standard tube (not triple tube).
tube, depth of diamond tails, face-sampling bit or
other type, whether core is oriented and if so, by
what method, etc.).
* "Drill-hole inclinations were -55 degrees and
oriented on various azimuths depending on the
geological formation. Down-hole surveys were not
completed for the diamond drill-holes and the core
was not oriented.
Drill sample
recovery * Method of recording and assessing core and chip * Diamond core recovery by measuring the length of core
sample recoveries and results assessed. recovered compared to the length drill run. Drill
recoveries were considered as good with
over 90% of the drill
runs > 90% recovery.
* Measures taken to maximise sample recovery and ensure
representative nature of the samples. * Care when drilling broken ground, dispensing with the
core into the trays and working closely with the
contractors to ensure sample recoveries remained
consistent.
* Whether a relationship exists between sample recovery
and grade and whether sample bias may have occurred
due to preferential loss/gain of fine/coarse * Gold mineralisation does not apparently correlate to
material. zones of low sample recovery; sample bias due to poor
sample recovery is therefore not believed to be an
issue.
Logging
* Whether core and chip samples have been geologically * All drill-holes have been geologically and
and geotechnically logged to a level of detail to geotechnically logged, and the data stored in a
support appropriate Mineral Resource estimation, digital database. Information collected in logging is
mining studies and metallurgical studies. considered appropriate for future studies
* Whether logging is qualitative or quantitative in * Logging of diamond drill-core is a combination of
nature. Core (or costean, channel, etc.) photography. qualitative and quantitative and recorded lithology,
mineralogy, mineralisation, structure, weathering and
colour. Core photographs also exist for all
drill-holes.
* The total length and percentage of the relevant
intersections logged.
* Logged data exists for 100% of the holes drilled.
.
Sub-sampling
techniques * If core, whether cut or sawn and whether quarter, * Diamond drill-core was cut in half lengthways on site
and sample half or all core taken. If non-core, whether riffled, using a diamond saw; for duplicate samples
preparation tube sampled, rotary split, etc. and whether sampled quarter-core was used.
wet or dry.
* For all sample types, the nature, quality and * Sample preparation was undertaken by SGS-Geosol
appropriateness of the sample preparation technique. Laboratories ("SGS") in Brazil. SGS used industry
standard methods (dry - crush - split - pulverise)
which are considered appropriate for the style of
mineralisation intersected in the drill-holes. The
sample preparation method used by SGS-Geosol
laboratories is presented in the following section.
* Quality control procedures adopted for all * Standards (certified reference material), blanks and
sub-sampling stages to maximise representivity of duplicates were inserted into the sample stream at
samples. the rate of 1:25, 1:25 and 1:40 samples, respectively
for the sample batches of generally 50 samples.
* The same side from each sample cut were routinely
* Measures taken to ensure that the sampling is sampled. Field duplicates were completed using
representative of the in-situ material collected, quarter core.
including for instance results for field
duplicate/second-half sampling.
* Sample lengths varied as determined by geological
factors- this is considered appropriate for the style
* Whether sample sizes are appropriate to the grain of mineralisation.
size of the material being sampled.
Quality of
assay data * The nature, quality and appropriateness of the * The samples were assayed for Au by Fire Assay of 50g
and assaying and laboratory procedures used and whether aliquots followed by Atomic Absorption Spectroscopy
laboratory the technique is considered partial or total. (AAS), a technique designed to report total gold.
tests This technique has a lower detection limit of 5ppb.
This is considered an appropriate procedure for this
style of mineralisation.
* For geophysical tools, spectrometers, handheld XRF * None of these tools were used in this analysis.
instruments, etc., the parameters used in determining
the analysis including instrument make and model,
reading times, calibrations factors applied and their
derivation, etc.
* Nature of quality control procedures adopted (e.g. * The coarse and pulp sample rejects from the
standards, blanks, duplicates, external laboratory preparation and analytical laboratories were retained
checks) and whether acceptable levels of accuracy and stored at the laboratory, allowing for
(i.e. lack of bias) and precision have been re-assaying in the future if required. All pulps and
established. coarse rejects will be returned to Crusader and
stored indefinitely.
* Standard Quality Control procedures were adopted by
Crusader including field duplicates (1 every 40
samples), blanks (1 every 25 samples) and standards
(1 every 25 samples). Field duplicates are defined as
a second sample split via the riffle splitter at the
drill rig for RC samples and quarter core samples for
the diamond core.
* Routine analysis of the results of the Blanks,
Standards and Duplicates are carried out and any
variation away from pre-determined limits are
discussed with the lab. Any issues not resolved to
Crusaders satisfaction are re-analysed on a batch
basis. No external check laboratory assays have been
completed on these samples.
Verification
of sampling * The verification of significant intersections by * Significant intercepts were generated by Crusader
and assaying either independent or alternative company personnel. personnel and verified by Rob Smakman, the
Independent qualified person for this release.
* The use of twinned holes.
* No holes from the results reported today have been
twinned.
* Documentation of primary data, data entry procedures,
data verification, data storage (physical and * All drill-hole data are recorded in Microsoft Excel
electronic) protocols. spreadsheets and then stored in a digital database
(Microsoft Access). Only Crusader's database
administrator has the capacity to enter or change
data. Standardised geological codes and checks have
been employed to ensure standardised geological
logging and required observations performed. The
database is stored on a central server which is
backed up weekly. Work procedures exist for all
actions concerning data management.
* Discuss any adjustment to assay data. * No adjustments or calibrations were made to any assay
data.
Location
of data * Accuracy and quality of surveys used to locate drill * Collar surveys were initially performed using
points holes (collar and down-hole surveys), trenches, mine handheld GPS with accuracy to 5m. A licensed
workings and other locations used in Mineral Resource surveyor will check the locations using a total
estimation. station (later in the field season. All drill-holes
have been checked spatially in 3D and all obvious
errors addressed.
* Specification of the grid system used. * The grid system used for all data types, was in a UTM
projection, Zone 21 Southern Hemisphere and datum
South American 1969. No local grids are used.
* Topographic control in the area of the drilling is
* Quality and adequacy of topographic control. generally poor (+/- 10m), control is made using
topographic maps and hand held GPS.
Data spacing
and * Data spacing for reporting of Exploration Results. * The drilling carried out is on a variable grid,
distribution depending on the targeting stage of the drilling.
Grid spacing varies from 25m x 25m to approximate 50m
x 50m grid, both horizontally and vertically (in the
plane of the mineralised structure, which is
sub-vertical).
* Whether the data spacing and distribution is
sufficient to establish the degree of geological and * The density of information is considered insufficient
grade continuity appropriate for the Mineral Resource for conducting a mineral resource estimate to the
and Ore Reserve estimation procedure(s) and standards required by the JORC 2012 mineral resource
classifications applied. code.
* Whether sample compositing has been applied.
* No compositing was applied.
Orientation
of data in * Whether the orientation of sampling achieves unbiased * Mineralised structures were targeted and planned to
relation sampling of possible structures and the extent to be intersected so that minimal sample bias would
to which this is known, considering the deposit type. occur. All structures were planned to be intersected
geological as perpendicular as possible and to pass through the
structure entire structure. Mineralised structures had
relatively sharp contacts and all material was
sampled together i.e. the structure and the
hangingwall / footwall.
* If the relationship between the drilling orientation
and the orientation of key mineralised structures is * Wherever possible, all drill holes were oriented to
considered to have introduced a sampling bias, this intersect the intended structure perpendicular to the
should be assessed and reported if material. strike and approximately 40 degrees to the dip of the
mineralised zone. The mineralised structures are
visible from within the artisanal miners' workings
which allowed drill holes to be oriented to minimise
introducing a sample bias. Several holes were drilled
sub-parallel to the mineralised structure and are
therefore not considered to be true width. True width
was estimated for these holes and reported with their
respective drill results. None of the reported
significant intersections are a result of intentional
sample bias.
Sample
security * The measures taken to ensure sample security. * No sample security issues were raised or noted by
Crusader during the transportation of the samples
from the project site to the preparatory laboratory.
All samples were sealed with double cable ties in
strong high density plastic bags, two sample ID tags
were placed in different locations inside the sample
bags, all sample bags were clearly marked on the
outside with permanent marker pen. All sample bags
were checked off the dispatch list before being
placed into a heavy duty and highly durable sacks for
transportation to the laboratory. A packing list
(confirming the number of sacks for transport) was
received from the freight company transporting the
sample bags to their destination. Upon receipt at the
laboratory, samples were checked in and the list of
received samples immediately sent back to the
company's database administrator as a security check
that all samples were received and all were fully
intact and not opened.
Audits or
reviews * The results of any audits or reviews of sampling * No external audits were commissioned by Crusader. The
techniques and data. sampling techniques and data were reviewed by the
Competent Persons as part of previous Mineral
Resource estimation processes and were found to be of
industry standard.
============= ======================================================================= =======================================================================
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section)
Mineral
tenement * Type, reference name/number, location and ownership * Results are from two exploration tenements,
and land including agreements or material issues with third 866.578/2006 and 866.247/2011, both 100% owned by a
tenure status parties such as joint ventures, partnerships, wholly owned subsidiaries of Crusader. There is an
overriding royalties, native title interests, existing 1% net smelter return payable to a previous
historical sites, wilderness or national park and owner. There are three garimpo mining licences within
environmental settings. the tenement package, allowing the garimpeiros to
legally work under certain restrictions. The
tenements are not subject to any native title
interests, no known historical sites, wilderness or
national park, but is located within the border zone
around a national park. Within this border zone
further conditions may be required to gain an
operating licence. Cattle grazing and legal timber
felling are the two primary industries and land uses
for the area.
* The tenement is in good standing and there are no
* The security of the tenure held at the time of material impediments to operating in the area.
reporting along with any known impediments to
obtaining a licence to operate in the area.
Exploration
done by * Acknowledgment and appraisal of exploration by other * Garimpeiros first discovered the mineralised areas
other parties parties. around Juruena in the 1970's. Garimpeiros have been
active in the region since, recovering gold from
alluvial, colluvial and some oxidised rock. The area
has been explored on and off from the mid 1990's
through to the present, with the majority of drilling
taking place over the last four to five years.
Madison Minerals Ltd first explored and carried out
some drilling evaluation of the Juruena core area in
1995/1996. The drill information of Madison would not
be useable in a JORC compliant mineral resource
estimate, however Crusader considers the information
relevant from an exploration perspective and will use
these results to guide future exploration work. Lago
Dourado Minerals drill tested several anomalies and
zones from 2010 to 2013. All work undertaken by Lago
Dourado Minerals was performed to a JORC compliant
standard and the data generated is considered
sufficient to be used for a JORC compliant mineral
resource estimate, should further results confirm
continuity, grade and geological interpretation in
the future.
Geology
* Deposit type, geological setting and style of * The Juruena mineralisation is considered to have
mineralisation. resulted from magmatic activity (intrusions and
fluids) which could be sourced from a gold rich
source rock and concentrated along structural zones.
The mineralisation is hosted by Paleoproterozoic
volcanic and granitoid rocks of varying composition.
The host rocks are found within the Juruena-Rondonia
block of the Amazon Craton.
Drill hole
Information * A summary of all information material to the * See table in the attached announcement.
understanding of the Exploration Results including a
tabulation of the 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 * Table includes all holes.
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 * Significant intercepts were calculated using a 0.5Au
methods techniques, maximum and/or minimum grade truncations ppm lower cut-off, no upper cut, and up to 4m of
(e.g. cutting of high grades) and cut-off grades are consecutive dilution. Sample intervals which were not
usually Material and should be stated. equal to 1m were weight averaged.
* Where aggregate intercepts incorporate short lengths * No metal equivalent values considered.
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 * As far as practically possible and with the
mineralisation reporting of Exploration Results. geological interpretation available, the drill
widths and targets were tested with the aim of intersecting the
intercept interpreted mineralised structure as perpendicular as
lengths possible to the strike. All positive holes to date
intersected the mineralisation at approximately 40
degrees to the dip, which will cause a slight
overstatement of the actual intercept width. All
results are reported as downhole widths. Several
holes were drilled sub-parallel to the interpreted
mineralised zone and are therefore not true width,
these have been reported separately.
* Results are reported as downhole widths, in most
* If the geometry of the mineralisation with respect to cases, true width is estimated as 80% of down-hole
the drill hole angle is known, its nature should be length.
reported.
* Downhole lengths reported, true width unknown
* If it is not known and only the down 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 scales) and * See included Figure(s) in the announcement.
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
reporting * Where comprehensive reporting of all Exploration * Results from all holes in the current program are
Results is not practicable, representative reporting reported.
of both low and high grades and/or widths should be
practiced to avoid misleading reporting of
Exploration Results.
Other
substantive * Other exploration data, if meaningful and material, * Historical exploration data has been presented
exploration should be reported including (but not limited to): previously and includes soil sampling, auger drilling,
data geological observations; geophysical survey results; geophysical surveys, geological mapping and
geochemical survey results; bulk samples - size and interpretation.
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 (e.g. * Future exploration will continue to target the
tests for lateral extensions or depth extensions or already identified mineralised areas. Geological
large-scale step-out drilling). mapping, geophysical surveys and drilling is being
planned for areas which continue to generate positive
results.
* Diagrams clearly highlighting the areas of possible * See included Figure(s) in the announcement.
extensions, including the main geological
interpretations and future drilling areas, provided
this information is not commercially sensitive.
=============== =============================================================== =======================================================================
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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