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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| European Metals Holdings Limited | LSE:EMH | London | Ordinary Share | VGG3191T1021 | ORD NPV (DI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -1.75 | -8.24% | 19.50 | 19.00 | 20.00 | 21.25 | 18.75 | 20.75 | 767,162 | 11:00:26 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Miscellaneous Metal Ores,nec | 1.12M | -5.93M | -0.0286 | -6.82 | 40.43M |
From Apr 2021 to Apr 2024
TIDMEMH
RNS Number : 0097A
European Metals Holdings Limited
27 May 2021
For immediate release
27 May 2021
EUROPEAN METALS HOLDINGS LIMITED
ADDUM TO ASX RELEASE 19 MAY 2021
European Metals Holdings Limited (ASX & AIM: EMH, NASDAQ: ERPNF) ("European Metals" or the "Company") provides the attached amended and re-stated JORC Table 1 (Sections 1 and 2) intended to accompany the ASX Release of 19 May 2021 "Strong Results from Locked Cycle Tests Confirms Process".
This addendum includes additional technical detail following consultation with ASX.
This announcement has been approved for release by the Board.
CONTACT
For further information on this update or the Company generally, please visit our website at www.europeanmet.com or see full contact details at the end of this release.
COMPETENT PERSON
Information in this release that relates to exploration results is based on information compiled by Mr Vojtech Sesulka. Mr Sesulka is a Member of European Federation of Geologists and a Competent Person as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves and a Qualified Person for the purposes of the AIM Guidance Note on Mining and Oil & Gas Companies dated June 2009. Dr Sesulka consents to the inclusion in the release of the matters based on his information in the form and context in which it appears.
The information in this release that relates to Mineral Resources and Exploration Targets has been compiled by Mr Lynn Widenbar. Mr Widenbar, who is a Member of the Australasian Institute of Mining and Metallurgy, is a full time employee of Widenbar and Associates and produced the estimate based on data and geological information supplied by European Metals. Mr Widenbar has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the JORC Code 2012 Edition of the Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves. Mr Widenbar consents to the inclusion in this report of the matters based on his information in the form and context that the information appears.
CAUTION REGARDING FORWARD LOOKING STATEMENTS
Information included in this release constitutes forward-looking statements. Often, but not always, forward looking statements can generally be identified by the use of forward looking words such as "may", "will", "expect", "intend", "plan", "estimate", "anticipate", "continue", and "guidance", or other similar words and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs.
Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the company's actual results, performance and achievements to differ materially from any future results, performance or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licences and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which the company operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation.
Forward looking statements are based on the company and its management's good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect the company's business and operations in the future. The company does not give any assurance that the assumptions on which forward looking statements are based will prove to be correct, or that the company's business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the company or management or beyond the company's control.
Although the company attempts and has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in forward looking statements, there may be other factors that could cause actual results, performance, achievements or events not to be as anticipated, estimated or intended, and many events are beyond the reasonable control of the company. Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Forward looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the company does not undertake any obligation to publicly update or revise any of the forward looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.
LITHIUM CLASSIFICATION AND CONVERSION FACTORS
Lithium grades are normally presented in percentages or parts per million (ppm). Grades of deposits are also expressed as lithium compounds in percentages, for example as a percent lithium oxide (Li(2) O) content or percent lithium carbonate (Li(2) CO(3) ) content.
Lithium carbonate equivalent ("LCE") is the industry standard terminology for, and is equivalent to, Li(2) CO(3) . Use of LCE is to provide data comparable with industry reports and is the total equivalent amount of lithium carbonate, assuming the lithium content in the deposit is converted to lithium carbonate, using the conversion rates in the table included below to get an equivalent Li(2) CO(3) value in percent. Use of LCE assumes 100% recovery and no process losses in the extraction of Li(2) CO(3) from the deposit.
Lithium resources and reserves are usually presented in tonnes of LCE or Li.
The standard conversion factors are set out in the table below:
Table: Conversion Factors for Lithium Compounds and Minerals
Hot Features
Premium
Convert Convert Convert
from Convert to to
Convert to Li(2) LiOH.H(
to Li Li(2) O CO(3) 2) O
Lithium Li 1.000 2.153 5.325 6.048
----------------- ------------------ ------------------ ------------------ ------------------
Lithium Li(2)
Oxide O 0.464 1.000 2.473 2.809
----------------- ------------------ ------------------ ------------------ ------------------
Lithium Li(2)
Carbonate CO(3) 0.188 0.404 1.000 1.136
----------------- ------------------ ------------------ ------------------ ------------------
LiOH.
Lithium H(2)
Hydroxide O 0.165 0.356 0.880 1.000
----------------- ------------------ ------------------ ------------------ ------------------
Lithium
Fluoride LiF 0.268 0.576 1.424 1.618
----------------- ------------------ ------------------ ------------------ ------------------
WEBSITE
A copy of this announcement is available from the Company's website at www.europeanmet.com.
ENQUIRIES:
European Metals Holdings Limited
Keith Coughlan, Executive Chairman Tel: +61 (0) 419 996 333
Email: keith@europeanmet.com
Kiran Morzaria, Non-Executive Director Tel: +44 (0) 20 7440 0647
Dennis Wilkins, Company Secretary Tel: +61 (0) 417 945 049
Email: dennis@europeanmet.com
WH Ireland Ltd (Nomad & Joint Broker)
James Joyce/James Sinclair-Ford Tel: +44 (0) 20 7220 1666
(Corporate Finance)
Harry Ansell/Jasper Berry (Broking)
Shard Capital (Joint Broker) Tel: +44 (0) 20 7186 9950
Damon Heath
Erik Woolgar
Blytheweigh (Financial PR) Tel: +44 (0) 20 7138 3222
Tim Blythe
Megan Ray
Chapter 1 Advisors (Financial PR
- Aus) Tel: +61 (0) 433 112 936
David Tasker
The information contained within this announcement is considered to be inside information, for the purposes of Article 7 of EU Regulation 596/2014, prior to its release. The person who authorised for the release of this announcement on behalf of the Company was Keith Coughlan, Executive Chairman.
JORC Code, 2012 Edition - Table 1
Section 1 Sampling Techniques and Data
Sampling
techniques * Nature and quality of sampling (eg cut channels, * Between 2014 and 2021, the Company commenced a core
random chips, or specific specialised industry drilling program and collected samples from core
standard measurement tools appropriate to the splits in line with JORC Code guidelines.
minerals under investigation, such as down hole gamma
sondes, or handheld XRF instruments, etc). These
examples should not be taken as limiting the broad * Sample intervals honour geological or visible
meaning of sampling. mineralization boundaries and vary between 50 cm and
2 m. Majority of samples is 1 m in length
* Include reference to measures taken to ensure sample
representivity and the appropriate calibration of any * The samples are half or quarter of core; the latter
measurement tools or systems used. applied for large diameter core.
* Aspects of the determination of mineralisation that * Between 1952 and 1989, the Cinovec deposit was
are Material to the Public Report. sampled in two ways: in drill core and underground
channel samples.
* In cases where 'industry standard' work has been done
this would be relatively simple (eg 'reverse * Channel samples, from drift ribs and faces, were
circulation drilling was used to obtain 1 m samples collected during detailed exploration between 1952
from which 3 kg was pulverised to produce a 30 g and 1989 by Geoindustria n.p. and Rudne Doly n.p.,
charge for fire assay'). In other cases more both Czechoslovak State companies. Sample length was
explanation may be required, such as where there is 1 m, channel 10x5 cm, sample mass about 15 kg. Up to
coarse gold that has inherent sampling problems. 1966, samples were collected using hammer and chisel;
Unusual commodities or mineralisation types (eg from 1966 a small drill (Holman Hammer) was used.
submarine nodules) may warrant disclosure of detailed 14179 samples were collected and transported to a
information. crushing facility.
* Core and channel samples were crushed in two steps:
to -5mm, then to -0.5mm. 100g splits were obtained
and pulverized to -0.045mm for analysis.
* The metalurgical samples were hand-selected from
drill core from drill holes in the southern part of
the Cínovec deposit, recovered in the
exploration programme taking place in August-October
2020. The total weight of the sample was 76.6 kg.
Interval Mass
From To Length Weight Percentage
DH_ID Sample_ID [m] [m] [m] Simplified_Lithology [kg] [%]
CIS-18 CIS18069 228.3 229.2 0.9 greisen 41.2 54%
----------- ------ ------ --------- --------------------- ------- -----------
CIS-18 CIS18071 229.2 230.2 1 greisen
----------- ------ ------ --------- --------------------- ------- -----------
CIS-18 CIS18072 230.2 231 0.8 greisen
----------- ------ ------ --------- ---------------------
CIS-19 CIS19082 258 259 1 greisen
----------- ------ ------ --------- ---------------------
CIS-19 CIS19107 279 280 1 greisen
----------- ------ ------ --------- ---------------------
CIS-19 CIS19114 285 286 1 greisen
----------- ------ ------ --------- ---------------------
CIS-19 CIS19115 286 287 1 greisen
----------- ------ ------ --------- ---------------------
CIS-20 CIS20065 230.5 231 0.5 greisen
----------- ------ ------ --------- ---------------------
CIS-20 CIS20072 235 236 1 greisen
----------- ------ ------ --------- ---------------------
CIS-20 CIS20073 236 236.2 0.2 greisen
----------- ------ ------ --------- ---------------------
CIS-20 CIS20120 276 276.6 0.6 greisen
----------- ------ ------ --------- --------------------- ------- -----------
greisenized
CIS-19 CIS19087 262 263 1 granite 19.25 25%
----------- ------ ------ --------- --------------------- ------- -----------
greisenized
CIS-19 CIS19088 263 264 1 granite
----------- ------ ------ --------- --------------------- ------- -----------
greisenized
CIS-19 CIS19090 264 264.3 0.3 granite
----------- ------ ------ --------- ---------------------
greisenized
CIS-19 CIS19098 272 273 1 granite
----------- ------ ------ --------- ---------------------
greisenized
CIS-20 CIS20123 278 279 1 granite
----------- ------ ------ --------- --------------------- ------- -----------
CIS-18 CIS18031 195 196 1 granite 16.15 21%
----------- ------ ------ --------- --------------------- ------- -----------
CIS-19 CIS19022 202 203.5 1.5 granite
----------- ------ ------ --------- --------------------- ------- -----------
CIS-19 CIS19023 203.5 205 1.5 granite
----------- ------ ------ --------- --------------------- ------- -----------
76.6 100%
-----------
* Refer to ASX Release 2 February 2021 "Resource
Drilling Update" for drillhole locations. The Company
confirms that the form and context in which the
Competent Persons' findings are presented have not
materially modified from the original market
announcement.
* The sample was blended to match the average lithium
grade and mineral composition assumed in the current
mine model.
* The metalurgical samples were composed of three
different simplified lithologies as shown in the
above table. Each lithology (3 in total) was crushed
at Nagrom laboratory in Perth. The three crushed
samples were then composited (mixed) into a single
sample to give a crushed ore representative of the
expected run-of-mine in the first 5 years of the mine
life, in accordance with the ratio of lithologies in
the mining model for those first five years. The
equipment used by Nagrom was standard
laboratory-scale crushing equipment and the
compositing was performed with Nagrom's standard
laboratory procedures
Drilling
techniques * Drill type (eg core, reverse circulation, open-hole * In 2014, three core holes were drilled for a total of
hammer, rotary air blast, auger, Bangka, sonic, etc) 940.1m. In 2015, six core holes were drilled for a
and details (eg core diameter, triple or standard total of 2,455.9m. In 2016, seventeen core holes were
tube, depth of diamond tails, face-sampling bit or drilled for a total of 6,081m. In 2017, six core
other type, whether core is oriented and if so, by holes were drilled for a total of 2697.1m. In 2018,
what method, etc). ten core holes were drilled for a total of 1831.55m.
From 2020 until now 17 core holes were drilled for a
total 4,998m.
* In 2014 and 2015, the core size was HQ3 (60mm
diameter) in upper parts of holes; in deeper sections
the core size was reduced to NQ3 (44 mm diameter).
Core recovery was high (average 98%). In 2016 and
2017 up to four drill rigs were used, and select
holes employed PQ sized core for upper parts of the
drillholes. In deeper sections HQ core was produced.
* Historically only core drilling was employed, either
from surface or from underground.
* Surface drilling: 78 holes, total 30,214.8 meters;
vertical and inclined, maximum depth 1596 m
(structural hole). Core diameters from 220 mm near
surface to 110 mm at depth. Average core recovery
89.3%.
* Underground drilling: 999 holes for 54,974.74 m;
horizontal and inclined. Core diameter 46mm; drilled
by Craelius XC42 or DIAMEC drills.
Drill sample
recovery * Method of recording and assessing core and chip * Core recovery for historical surface drill holes was
sample recoveries and results assessed. recorded on drill logs and entered into the database.
* Measures taken to maximise sample recovery and ensure * No correlation between grade and core recovery was
representative nature of the samples. established.
* Whether a relationship exists between sample recovery
and grade and whether sample bias may have occurred
due to preferential loss/gain of fine/coarse
material.
Logging
* Whether core and chip samples have been geologically * In 2014-2021, core descriptions were recorded into
and geotechnically logged to a level of detail to paper logging forms by hand and later entered into an
support appropriate Mineral Resource estimation, Excel database.
mining studies and metallurgical studies.
* Core was logged in detail historically in a facility
* Whether logging is qualitative or quantitative in 6 km from the mine site. The following features were
nature. Core (or costean, channel, etc) photography. logged and recorded in paper logs: lithology,
alteration (including intensity divided into weak,
medium and strong/pervasive), and occurrence of ore
* The total length and percentage of the relevant minerals expressed in %, macroscopic description of
intersections logged. congruous intervals and structures and core recovery.
Sub-sampling
techniques * If core, whether cut or sawn and whether quarter, * In 2014-21, core was washed, geologically logged,
and sample half or all core taken. sample intervals determined and marked then the core
preparation was cut in half. Larger core was cut in half and one
half was cut again to obtain a quarter core sample.
* If non-core, whether riffled, tube sampled, rotary One half or one quarter samples were delivered to ALS
split, etc and whether sampled wet or dry. Global for assaying after duplicates, blanks and
standards were inserted in the sample stream. The
remaining drill core is stored on site for reference.
* For all sample types, the nature, quality and
appropriateness of the sample preparation technique.
* Sample preparation was carried out by ALS Global in
Romania, using industry standard techniques
* Quality control procedures adopted for all appropriate for the style of mineralisation
sub-sampling stages to maximise representivity of represented at Cinovec.
samples.
* Historically, core was either split or consumed
* Measures taken to ensure that the sampling is entirely for analyses.
representative of the in situ material collected,
including for instance results for field
duplicate/second-half sampling. * Samples are considered to be representative.
* Whether sample sizes are appropriate to the grain * Sample size and grains size are deemed appropriate
size of the material being sampled. for the analytical techniques used.
* The metallurgical samples was then ground down with a
laboratory rod mill to a P90 of 250 microns. No size
fractions were discarded in this step.
* For the metallurgical recovery work the blended ore
was crushed and passed through magnetic separation in
line with the current flowsheet.
* Chemical Analysis was by X-ray Fluorescence
Spectroscopy. The main element composition was
analyzed on representative samples by X-ray
fluorescence spectroscopy (XRF, S8 Tiger by Bruker
AXS) according to DIN EN ISO 12677.
* Loss on ignition was determined according to DIN EN
ISO 12677.
* Lithium and Rubidium Analysis was by Na2O2Fusion. The
samples were prepared in a sodium peroxide (Na2O2)
fusion, where the Na2O2 oxidizes the samples and form
compounds that are soluble in a dilute acidic
solution. The samples were analyzed for their
respective lithium and rubidium contents using
inductively coupled plasma spectrometry (Varian,
Vista MPX).
Quality of
assay data * The nature, quality and appropriateness of the * In 2014-21, core samples were assayed by ALS Global.
and assaying and laboratory procedures used and whether The most appropriate analytical methods were
laboratory the technique is considered partial or total. determined by results of tests for various analytical
tests techniques.
* For geophysical tools, spectrometers, handheld XRF
instruments, etc, the parameters used in determining * The following analytical methods were chosen: ME-MS81
the analysis including instrument make and model, (lithium borate fusion or 4 acid digest, ICP-MS
reading times, calibrations factors applied and their finish) for a suite of elements including Sn and W
derivation, etc. and ME-4ACD81 (4 acid digest, ICP-AES finish)
additional elements including lithium. In 2020 and
2021, the method ME-MS89L (lithium borate fusion or 4
* Nature of quality control procedures adopted (eg acid digest, ICP-MS finish) was used, which covers
standards, blanks, duplicates, external laboratory all elements of interest, incl. Li, Sn and W.
checks) and whether acceptable levels of accuracy (ie
lack of bias) and precision have been established.
* About 40% of samples were analysed by ME-MS81d
(ME-MS81 plus whole rock package). Samples with over
1% tin are analysed by XRF. Samples over 1% lithium
were analysed by Li-OG63 (four acid and ICP finish).
* Standards, blanks and duplicates were inserted into
the sample stream. Initial tin standard results
indicated possible downgrading bias; the laboratory
repeated the analysis with satisfactory results.
* Historically, tin content was measured by XRF and
using wet chemical methods. W and Li were analysed by
spectral methods.
Analytical QA was internal and external. The former subjected 5% of the sample to repeat analysis
in the same facility. 10% of samples were analysed in another laboratory, also located in
The Czech Republic. The QA/QC procedures were set to the State norms and are considered adequate.
It is unknown whether external standards or sample duplicates were used.
* Overall accuracy of sampling and assaying was proved
later by test mining and reconciliation of mined and
analysed grades.
Verification
of sampling * The verification of significant intersections by * During the 2014-21 drill campaigns the Company
and assaying either independent or alternative company personnel. indirectly verified grades of tin and lithium by
comparing the length and grade of mineral intercepts
with the current block model.
* The use of twinned holes.
* Documentation of primary data, data entry procedures,
data verification, data storage (physical and
electronic) protocols.
* Discuss any adjustment to assay data.
Location of
data points * Accuracy and quality of surveys used to locate drill * In 2014-21, drill collar locations were surveyed by a
holes (collar and down-hole surveys), trenches, mine registered surveyor.
workings and other locations used in Mineral Resource
estimation.
* Down hole surveys were recorded by a contractor.
* Specification of the grid system used.
* Historically, drill hole collars were surveyed with a
great degree of precision by the mine survey crew.
* Quality and adequacy of topographic control.
* Hole locations are recorded in the local S-JTSK
Krovak grid.
* Topographic control is excellent.
Data spacing
and * Data spacing for reporting of Exploration Results. * Historical data density is very high.
distribution
* Whether the data spacing and distribution is * Spacing is sufficient to establish an inferred
sufficient to establish the degree of geological and resource that was initially estimated using MICROMINE
grade continuity appropriate for the Mineral Resource software in Perth, 2012.
and Ore Reserve estimation procedure(s) and
classifications applied.
* Areas with lower coverage of Li% assays have been
identified as exploration targets.
* Whether sample compositing has been applied.
* Sample compositing to 1m intervals has been applied
mathematically prior to estimation but not
physically.
Orientation
of data in * Whether the orientation of sampling achieves unbiased * In 2014-21, drill hole azimuth and dip was planned to
relation to sampling of possible structures and the extent to intercept the mineralized zones at near-true
geological which this is known, considering the deposit type. thickness. As the mineralized zones dip shallowly to
structure the south, drill holes were vertical or near vertical
and directed to the north. Due to land access
* If the relationship between the drilling orientation restrictions, certain holes could not be positioned
and the orientation of key mineralised structures is in sites with ideal drill angle.
considered to have introduced a sampling bias, this
should be assessed and reported if material.
* The Company has not directly collected any samples
underground because the workings are inaccessible at
this time.
* Based on historic reports, level plan maps, sections
and core logs, the samples were collected in an
unbiased fashion, systematically on two underground
levels from drift ribs and faces, as well as from
underground holes drilled perpendicular to the drift
directions. The sample density is adequate for the
style of deposit.
* Multiple samples were taken and analysed by the
Company from the historic tailing repository and
waste dump. Only lithium was analysed (Sn and W too
low). The results matched the historic grades.
Sample
security * The measures taken to ensure sample security. * In the 2014-21 programs, only the Company's employees
and contractors handled drill core and conducted
sampling. The core was collected from the drill rig
each day and transported in a company vehicle to the
secure Company premises where it was logged and cut.
Company geologists supervised the process and
logged/sampled the core. The samples were transported
by Company personnel in a Company vehicle, or by
international courier to the ALS Global laboratory
pick-up station. The remaining core is stored under
lock and key.
* Historically, sample security was ensured by State
norms applied to exploration. The State norms were
similar to currently accepted best practice and JORC
guidelines for sample security.
* Beneficiation and analysis for the metallurgical
testwork was performed by Nagrom, Perth
--
Audits or * Review of sampling techniques possible from written records. No flaws found.
reviews * The results of any audits or reviews of sampling
techniques and data.
============= ============================================================ ====================================================================================================
Section 2 Reporting of Exploration Results
(Criteria listed in section 1 also apply to this section.)
Mineral
tenement and * Type, reference name/number, location and ownership * Cinovec exploration rights held under four licenses
land tenure including agreements or material issues with third Cinovec (expires 31/12/2023), Cinovec 2 (expires
status parties such as joint ventures, partnerships, 31/12/2023), Cinovec 3 (expires 31/10/2021) and
overriding royalties, native title interests, Cinovec4 (expires 30/04/2022). 100% owned by Geomet,
historical sites, wilderness or national park and no native interests or environmental concerns. A
environmental settings. State royalty applies metals production and is set as
a fee in Czech crowns per unit of metal produced.
* The security of the tenure held at the time of
reporting along with any known impediments to * There are no known impediments to obtaining an
obtaining a licence to operate in the area. Exploitation Permit for the defined resource.
Exploration
done by other * Acknowledgment and appraisal of exploration by other * There has been no acknowledgment or appraisal of
parties parties. exploration by other parties.
Geology
* Deposit type, geological setting and style of * Cinovec is a granite-hosted tin-tungsten-lithium
mineralisation. deposit.
* Late Variscan age, post-orogenic granite intrusion.
Tin and tungsten occur in oxide minerals (cassiterite
and wolframite). Lithium occurs in zinnwaldite, a
Li-rich muscovite
* Mineralization in a small granite cupola. Vein and
greisen type. Alteration is greisenisation,
silicification.
Drill hole * Reported previously.
Information * A summary of all information material to the
understanding of the exploration results including a
tabulation of the following information for all
Material drill holes:
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 * In reporting Exploration Results, weighting averaging * Reporting of exploration results has not and will not
methods techniques, maximum and/or minimum grade truncations include aggregate intercepts.
(eg cutting of high grades) and cut-off grades are
usually Material and should be stated.
* Metal equivalent not used in reporting.
* Where aggregate intercepts incorporate short lengths
of high grade results and longer lengths of low grade * No grade truncations applied.
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 * Intercept widths are approximate true widths.
mineralisation reporting of Exploration Results.
widths and
intercept * The mineralization is mostly of disseminated nature
lengths * If the geometry of the mineralisation with respect to and relatively homogeneous; the orientation of
the drill hole angle is known, its nature should be samples is of limited impact.
reported.
* For higher grade veins care was taken to drill at
* If it is not known and only the down hole lengths are angles ensuring closeness of intercept length and
reported, there should be a clear statement to this true widths
effect (eg 'down hole length, true width not known').
* The block model accounts for variations between
apparent and true dip.
Diagrams
* Appropriate maps and sections (with scales) and * Appropriate maps and sections have been generated by
tabulations of intercepts should be included for any the Company, and independent consultants. Available
significant discovery being reported These should in customary vector and raster outputs, and partially
include, but not be limited to a plan view of drill in consultant's reports.
hole collar locations and appropriate sectional
views.
Balanced
reporting * Where comprehensive reporting of all Exploration * Balanced reporting in historic reports guaranteed by
Results is not practicable, representative reporting norms and standards, verified in 1997, and 2012 by
of both low and high grades and/or widths should be independent consultants.
practiced to avoid misleading reporting of
Exploration Results.
* The historic reporting was completed by several State
institutions and cross validated.
* Only selected metallurgical results have been
reported.
--
Other
substantive * Other exploration data, if meaningful and material, * Data available: bulk density for all representative
exploration should be reported including (but not limited to): rock and ore types; (historic data + 92 measurements
data geological observations; geophysical survey results; in 2016-17 from current core holes); petrographic and
geochemical survey results; bulk samples - size and mineralogical studies, hydrological information,
method of treatment; metallurgical test results; bulk hardness, moisture content, fragmentation etc.
density, groundwater, geotechnical and rock
characteristics; potential deleterious or
contaminating substances. * Solids and liquors produced in the LCT metalurgical
testwork were analysed using a combination XRF, or
peroxide fusion and ICP-OES.
--
Further work
* The nature and scale of planned further work (eg * Grade verification sampling from underground or
tests for lateral extensions or depth extensions or drilling from surface. Historically-reported grades
large-scale step-out drilling). require modern validation in order to improve the
resource classification.
* Diagrams clearly highlighting the areas of possible
extensions, including the main geological * The number and location of sampling sites will be
interpretations and future drilling areas, provided determined from a 3D wireframe model and
this information is not commercially sensitive. geostatistical considerations reflecting grade
continuity.
* The geologic model will be used to determine if any
infill drilling is required.
* The deposit is open down-dip on the southern
extension, and locally poorly constrained at its
western and eastern extensions, where limited
additional drilling might be required.
* No large scale drilling campaigns are required.
* Ongoing metalurgical testwork will include
optimisation of two process steps and ore variability
testwork .
--
=============== =============================================================== ============================================================
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