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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| First Tin Plc | LSE:1SN | London | Ordinary Share | GB00BNR45554 | ORD GBP0.001 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 5.00 | 4.80 | 5.20 | 5.00 | 5.00 | 5.00 | 50,000 | 08:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Miscellaneous Metal Ores,nec | 0 | -3.03M | -0.0067 | -7.46 | 22.59M |
From Jan 2023 to Jan 2025
TIDM1SN
RNS Number : 3792M
First Tin PLC
14 September 2023
14 September 2023
First Tin Plc
("First Tin" or "the Company")
Mineral Resource Estimate Upgrade at Taronga Tin Project
First Tin PLC ("First Tin"), a tin development company with advanced, low capex projects in Germany and Australia, is pleased to announce an updated Mineral Resource Estimate ("MRE") for its 100% owned Taronga Tin Project in Australia, completed by independent geological consultants H&S Consultants Pty Ltd ("H&SC"). The MRE has been prepared in accordance with the 2012 JORC Code & Guidelines.
The updated MRE is reported using a 0.05% tin ("Sn") cut-off to a maximum depth of 300m below surface (650mRL):
Hot Features
Premium
Category Tonnage (Million) Grade (% Tin (Tonnes)
Sn)
Measured 33.0 0.13 44,200
------------------ --------- -------------
Indicated 38.9 0.11 42,000
------------------ --------- -------------
Sub-Total
(M&I) 71.9 0.12 86,200
------------------ --------- -------------
Inferred 61.1 0.09 61,100
------------------ --------- -------------
TOTAL 133.0 0.10 138,300
------------------ --------- -------------
(minor rounding errors)
This is a substantial 240% increase in size on the previous MRE announced by Aus Tin Mining Ltd in 2014 which was calculated using a 0.10% Sn cut-off. The lower cut-off for the updated Mineral Resource is based on revised economic considerations including higher 3-year trailing tin prices, lower AUD:USD exchange rates and preliminary estimates of mining, processing and G&A costs.
A direct comparison with the 2014 MRE using a 0.10% Sn cut-off is:
2014 MRE H&SC 2023 MRE Percentage
Change
(%)
Tonnes Grade Tin (Tonnes) Tonnes Grade Tin (Tonnes)
(Million) (%Sn) (Million) (%Sn)
----------- ------- ------------- ----------- ------- -------------
Measured - - - 21.5 0.17 35,700 -
----------- ------- ------------- ----------- ------- ------------- -----------
Indicated 26.9 0.17 45,200 16.5 0.16 26,000 (42.5)
----------- ------- ------------- ----------- ------- ------------- -----------
Sub-Total 26.9 0.17 45,200 38.0 0.16 61,700 36.5
----------- ------- ------------- ----------- ------- ------------- -----------
Inferred 9.4 0.13 12,000 13.4 0.14 18,600 55
----------- ------- ------------- ----------- ------- ------------- -----------
TOTAL 36.3 0.16 57,200 51.7 0.16 80,300 40.4
----------- ------- ------------- ----------- ------- ------------- -----------
(minor rounding errors)
The comparison represents a 40% increase in total contained tin metal based on the same cut-off. The difference is primarily due to:
-- Exploration drilling by First Tin successfully extending the Mineral Resource to the southwest of the existing
estimate
-- A new geological interpretation
-- A reconfigured grade interpolation technique
A Measured Resource category has been included for the first time. This is based on the successful hole twinning drill programme conducted by First Tin which validated the Newmont drilling data alongside a more in-depth study of the Newmont QAQC data which confirmed the reliability of the historic drilling data.
A grade-tonnage table is included as Table 1 with a graphical representation shown as Figure 1.
First Tin CEO Thomas Buenger said: "The 2023 MRE represents the culmination of a highly successful drill campaign at Taronga, which opened up new areas of mineralisation and validated previous data. We are very pleased with the large increase in contained tin and the addition of a Measured Resource category, which provides further confidence in the MRE. The grade-tonnage curve shows that the Mineral Resource Estimate is robust and that significant tonnages of higher-grade material exist that will in turn reduce risk due to changing tin prices."
The project is owned by First Tin's 100% owned Australian subsidiary, Taronga Mines Pty Ltd ("TMPL").
Sn Cut
off % Mt Sn % Sn Kt
0.025 197.3 0.082 161.8
------ ------ ------
0.04 157.0 0.095 149.1
------ ------ ------
0.05 133.0 0.104 138.3
------ ------ ------
0.06 111.4 0.113 125.9
------ ------ ------
0.07 92.6 0.123 113.8
------ ------ ------
0.08 76.0 0.134 101.9
------ ------ ------
0.09 62.4 0.145 90.5
------ ------ ------
0.1 51.5 0.156 80.3
------ ------ ------
0.125 32.0 0.183 58.6
------ ------ ------
0.15 20.5 0.209 42.9
------ ------ ------
0.2 8.7 0.261 22.7
------ ------ ------
0.25 3.8 0.315 11.9
------ ------ ------
0.3 1.7 0.37 6.1
------ ------ ------
0.5 0.1 0.589 0.7
------ ------ ------
Table 1: Tin Grade-Tonnage Table for Taronga
Figure 2 shows an oblique view of the tin block grade distribution for the Taronga Mineral Resources (figure in local grid orientation). The black ellipse highlights the additional resource discovered by First Tin.
Figure 3 demonstrates in an oblique view the distribution of Resource Categories for the Taronga tin deposit (figures in local grid orientation).
All Resource Categories
Measured & Indicated
Measured
Figure 3: Distribution of Mineralisation by Category, Taronga
Enquiries:
First Tin Via SEC Newgate below Thomas Buenger - Chief Executive Officer Arlington Group Asset Management Limited (Financial Advisor and Joint Broker) Simon Catt 020 7389 5016 WH Ireland Limited (Joint Broker) Harry Ansell 020 7220 1670 SEC Newgate (Financial Communications) Elisabeth Cowell / Molly FirstTin@secnewgate.co.uk Gretton
Notes to Editors
First Tin is an ethical, reliable, and sustainable tin production company led by a team of renowned tin specialists. The Company is focused on becoming a tin supplier in conflict-free, low political risk jurisdictions through the rapid development of high value, low capex tin assets in Germany and Australia.
Tin is a critical metal, vital in any plan to decarbonise and electrify the world, yet Europe has very little supply. Rising demand, together with shortages, is expected to lead tin to experience sustained deficit markets for the foreseeable future. Its assets have been de-risked significantly, with extensive work undertaken to date.
First Tin's goal is to use best-in-class environmental standards to bring two tin mines into production in three years, providing provenance of supply to support the current global clean energy and technological revolutions.
JORC Code, 2012 Edition - Table 1 Taronga Tin Project (TMPL)
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, * Sampling consisted of two surface drilling phases:
random chips, or specific specialised industry Newmont 1979 to 1982 and Taronga Mines Pty Ltd (TMPL)
standard measurement tools appropriate to the 2022 to 2023.
minerals under investigation, such as down hole gamma
sondes, or handheld XRF instruments, etc). These
examples should not be taken as limiting the broad * Diamond drilling (DD) was used to obtain 1m samples
meaning of sampling. of NQ3/HQ3 core which was sawn in half
longitudinally. The half core was bagged and sent to
a commercial laboratory for sample prep and assay.
* Include reference to measures taken to ensure sample This is industry standard work.
representivity and the appropriate calibration of any
measurement tools or systems used.
* The Newmont open hole percussion (OHP) and JACRO
percussion drilling was used to obtain 1m samples. (a
* Aspects of the determination of mineralisation that JACRO percussion rig was used to sample shallow areas
are Material to the Public Report. with shallow angled drillholes).
* In cases where 'industry standard' work has been done * The TMPL Reverse Circulation (RC) drilling was used
this would be relatively simple (eg 'reverse to obtain 1m samples from a 4.5 inch diameter drill
circulation drilling was used to obtain 1 m samples hole. This is industry standard work.
from which 3 kg was pulverised to produce a 30 g
charge for fire assay'). In other cases more
explanation may be required, such as where there is * To ensure sample representivity all diamond drilling
coarse gold that has inherent sampling problems. was triple tube.
Unusual commodities or mineralisation types (eg
submarine nodules) may warrant disclosure of detailed
information. * To ensure sample representivity appropriate
compressors were used for the OHP/JACRO/RC drilling
to lift all the sample and prevent water inflows.
* Mineralisation is characterised as sheeted quartz
veins with minor cassiterite, arsenopyrite and
chalcopyrite in hornfelsed metasediments. Veins are
often hairline fractures and there is no obviously
visible pervasive alteration associated with the
hornfelsing. No discrete boundaries to the
mineralisation are known to exist. All drilling
samples were analysed and hence no prior
determination of mineralisation was made.
* Laboratory sample prep involved industry standard
drying, weighing and crushing followed by splitting
(where sample size was too large) and pulverising.
For Newmont this was completed on site with analysis
at a commercial laboratory, whilst for TMPL the
sample prep and analysis was completed at a
commercial laboratory. The subsequent pulp sample was
analysed by an appropriate industry standard method
for the time.
============================================================
Drilling
techniques * Drill type (eg core, reverse circulation, open-hole * Details of drilling for the general area:
hammer, rotary air blast, auger, Bangka, sonic, etc)
and details (eg core diameter, triple or standard Company Type No of Holes Metres
tube, depth of diamond tails, face-sampling bit or Newmont DD 173 25,718.8
other type, whether core is oriented and if so, by ------- ------------ ---------
what method, etc). OHP 81 5,573.5
------------------ ------------ ---------
JACRO 97 3,771.0
------------------ ------------ ---------
Total 351 35,063.3
------------------ ------------ ---------
TMPL Type No of Holes Metres
------- ------------ ---------
DD 13 1,619.2
------------------ ------------ ---------
RC 46 4,714.0
------------------ ------------ ---------
Total 59 6,333.2
------------------ ------------ ---------
Combined Type No of Holes Metres
------- ------------ ---------
DD 186 27,338.0
------------------ ------------ ---------
OHP 81 5,573.5
------------------ ------------ ---------
RC 46 4,714.0
------------------ ------------ ---------
JACRO 97 3,771.0
------------------ ------------ ---------
Total 410 41,396.5
------------------ ------------ ---------
Newmont
* DD were collared HQ or with OHP, reducing to NQ
triple tube once solid ground was met. Triple tube
drilling was employed to maximise core recovery and
minimise the loss of cassiterite. Core was not
oriented.
* OHP drilling was originally undertaken using a high
pressure Schramm rig. Later percussion drilling,
including all drillholes in the PG 400 series, used a
high pressure T-3 rig with a 140mm tungsten bit. The
rig was equipped with a primary cyclone connected to
a manifold at the collar for sample recovery. A
secondary Donaldson filter was attached to the outlet
of the primary cyclone to collect minus 5 micrometre
dust.
* A modified JACRO percussion rig equipped with a
vacuum sample recovery system was used exclusively
for Newmont's shallow angle drilling.
TMPL
* Diamond drilling was undertaken using an HQ bit with
a soft matrix. Triple tube drill rods were used to
ensure good core recovery and avoid washing out of
cassiterite. Core was not oriented.
* Percussion drilling was undertaken using a face
sampling 4.5 inch "Black Diamond" hammer, 137mm PED
(polycarbonate diamond) bit and a 4.5 inch, 6m
stainless steel rod. A tight shroud (3mm gap) ensured
the holes remained as straight as possible. A 350psi,
900cfm compressor was used to keep holes dry and
ensure all heavy minerals such as cassiterite are
recovered.
Drill sample
recovery * Method of recording and assessing core and chip * All core intervals are measured and compared with the
sample recoveries and results assessed. drillers marks to determine actual recovery. Recovery
was generally 100% apart from isolated intervals with
poor ground conditions, generally either near surface
* Measures taken to maximise sample recovery and ensure or in fault zones. Average recovery for Newmont DD is
representative nature of the samples. 97.3% with average recovery for TMPL DD of 96.8%
* Whether a relationship exists between sample recovery * All RC and OHP samples were weighed at site. This
and grade and whether sample bias may have occurred gives a good idea as to recovery for the 1m intervals
due to preferential loss/gain of fine/coarse sampled as the density does not vary significantly.
material. Recovery for the OHP was estimated to be very good in
general. Semi quantitative analysis of the TMPL
weighed RC samples indicated an average recovery
>90%.
* No information on the JACRO holes' recovery was
available.
* All diamond drilling used triple tube rods to
maximise sample recovery.
* There is some speculation by TMPL that the drilling
and core cutting processes may have resulted in small
scale loss of tin through washout associated with the
vein margins and very small vughs in the tin-bearing
veins. Conclusive evidence for this is lacking.
* For the percussion drilling a high pressure and
volume compressor was used to ensure good sample
return and to keep holes dry. No significant water
was encountered meaning sample quality was good. The
hole was cleaned out with compressed air after every
rod change and no significant volume of material was
returned via this process.
* No relationship can be seen between recovery and tin
grade. No sample bias is noted.
* Previous work by Mining One suggested that there was
downhole smearing of tin grade associated with the
JACRO drilling based on geostatistical work, but a
review of the Newmont JACRO/DD twin hole drilling
indicated no bias; check modelling without the JACRO
drilling indicated no difference in global block
grades. Visual inspection might suggest possible
smearing but it is difficult to be certain. The JACRO
holes were included in the Mineral Resource estimate.
============================================================
Logging
* Whether core and chip samples have been geologically * All samples have been geologically logged to a level
and geotechnically logged to a level of detail to of detail to support appropriate mineral estimation,
support appropriate Mineral Resource estimation, mining, and metallurgical studies.
mining studies and metallurgical studies.
* The TMPL diamond holes have been geotechnically
* Whether logging is qualitative or quantitative in logged to a level of detail to support appropriate
nature. Core (or costean, channel, etc) photography. mineral estimation, mining, and metallurgical studies
* The total length and percentage of the relevant * All drill core logging is both qualitative and
intersections logged. quantitative in nature, with the TMPL logging
following a strict set of guidelines. The entire
length each hole has been logged.
* The Newmont drilling was completed as hardcopy
logsheets which were transcribed into a digital
format in 2013. All TMPL core was digitally logged
and has been photographed.
* All RC, OHP and JACRO logging is semi-quantitative in
nature, with the TMPL RC drilling following a strict
set of guidelines, with percentage estimates made.
Representative sub-samples were collected, sieved and
selectively panned to visually estimate heavy mineral
content. A sub-set of rock chips for each RC sample
are kept in chip-trays for reference and stored on
site.
Sub-sampling Newmont drilling sample prep
techniques * If core, whether cut or sawn and whether quarter, * NQ core was sawn in half longitudinally at 1m
and sample half or all core taken. intervals with one half dispatched to Analabs Pty
preparation Limited ("Analabs") in Perth, Australia for assay.
The half core selected for assay was crushed (size
* If non-core, whether riffled, tube sampled, rotary unknown) then ground to 500 microns from which a 100g
split, etc and whether sampled wet or dry. sample was split and pulverized to less than 75
microns. A lab duplicate of each tenth sample was
split and pulverised to check sample preparation and
* For all sample types, the nature, quality and assaying reliability. These were appropriate,
appropriateness of the sample preparation technique. industry standard, sampling and sample preparation
techniques for the time.
* Quality control procedures adopted for all
sub-sampling stages to maximise representivity of * All 1m percussion drill samples were prepared for
samples. assay on site using four stages of size reduction
comprising jaw crusher, rolls crusher, disc grinder
and ring grinder (pulveriser), with sample splitting
* Measures taken to ensure that the sampling is between stages in accord with Pierre Gy's
representative of the in situ material collected, "Particulate Sampling Procedures". The pulverised
including for instance results for field material was dispatched to Analabs in Perth for
duplicate/second-half sampling. assay.
* Whether sample sizes are appropriate to the grain * A duplicate of each tenth sample was split and
size of the material being sampled. pulverised to check sample preparation and assaying
reliability. These were appropriate, industry
standard, sampling and sample preparation techniques
at the time.
* Duplicate samples showed that a majority of duplicate
Sn assays deviated by less than 2.5% relative to
perfect correlation.
TMPL drilling sample prep
* HQ core was sawn in half longitudinally after fitting
together of core across drillers breaks and a
reference line marked on the core. A consistent side
of the core is taken for sampling with the samples
sent to the ALS laboratory in Brisbane, Australia.
* All RC cuttings were weighed then riffle split on
site to obtain between 3kg and 5kg of sample. All
samples are dry. The sub-sample is sent to the ALS
laboratory in Brisbane.
* Core and RC chip sample prep consists of crushing to
70% passing 6mm with splitting used if crushed sample
is over 3kg. The entire sample or sub-sample is then
pulverized in a mill to 85% finer than 75um.
* Prior to dispatch of samples, the following QAQC
samples are added:
o Field duplicates are added at the rate of
1 in 20 samples for RC. These are riffle split
from the original sample on site.
o For diamond drilling, the half core is split
into two quarter cores every 1 in 20 samples
and these are sent as field duplicates .
* Sample sizes are considered appropriate for the
material being sampled as the tin mineralisation
occurs as cassiterite (SnO(2) ) within sub-vertical
veins that are between 0.05mm and 0.5cm wide (rarely
to 5cm) and cassiterite crystals are smaller than the
vein width. Vein density varies from about 5/m to
greater than 20/m and hence several veins are sampled
in each metre. This compares favourably with the
sample size that is approximately 10,000 cm(3) for RC
and 3,200cm(3) for HQ core before sub-sampling.
* No independent sizing checks were completed. The ALS
Lab completed its own internal checks and reported
the results.
============================================================
Quality Newmont
of assay * The nature, quality and appropriateness of the * All Sn assays were performed by taking 10g samples
data and assaying and laboratory procedures used and whether from the 100g pulverised samples. The samples were
laboratory the technique is considered partial or total. analysed for Sn using pressed powder X-ray
tests fluorescence at Analabs. Pressed powder X-ray
fluorescence was the industry standard for Sn
* For geophysical tools, spectrometers, handheld XRF analysis at the time.
instruments, etc, the parameters used in determining
the analysis including instrument make and model,
reading times, calibrations factors applied and their * Comparison of Sn assays of samples from diamond drill
derivation, etc. and percussion holes was good and no bias between the
two sets of analyses is evident.
* Nature of quality control procedures adopted (eg
standards, blanks, duplicates, external laboratory * For every 30 samples, four standards were inserted on
checks) and whether acceptable levels of accuracy (ie rotation. In addition, every tenth sample was lab
lack of bias) and precision have been established. duplicate assayed.
* Selected samples were check assayed at other
laboratories and using other assay methods, including
an XRF method developed by Cleveland Tin Limited in
Tasmania which was a significant Australian tin
producer at the time. The checks confirmed that
Analab's procedures were satisfactory and that sample
preparation and assay quality were consistently
maintained by Analabs.
TMPL
* All Sn assays were performed on a 0.1g sub-sample of
the pulverised and mixed material, which was taken
and fused with lithium borate. The fused bead is then
analysed by a mass spectrometer using method ME-MS85
which reports Sn, W, Ta and Nb. This returns a total
tin content, including tin as cassiterite. Over limit
assays of tin are re-analysed using method ME-XRF15b
which involves fusion with lithium metaborate with a
lithium tetraborate flux containing 20% NaNO(3) with
an XRF finish.
* Other elements are analysed by method ME-ICP61 using
a 0.25g sub-sample. This involves a 4 acid digest
with an ICP-AES finish. This is an industry standard
technique for a suite of 34 elements, including tin,
copper, arsenic, sulphur and silver. The tin assay is
only acid soluble tin and thus can be subtracted from
the fusion tin assays to obtain tin as cassiterite.
Acid soluble tin is generally associated with
stannite and in the lattice of silicates. The acid
soluble tin is generally insignificant in relation to
tin as cassiterite at Taronga.
* Prior to dispatch of samples, the following QAQC
samples were added:
o 3 Certified Reference Materials, representative
of the expected grades were inserted into the
sample suite at the rate of 1 in 40 samples.
o Coarse Blanks were inserted at the rate of
1 in 40 samples.
* If results for the CRMs indicated a >5% assay error,
the sample was compared with other CRMs in the same
batch. If other CRMs indicated similar errors the lab
was contacted to review.
* All QAQC data is within acceptable limits.
Verification Newmont
of sampling * The verification of significant intersections by * There is no information on any verification of
and assaying either independent or alternative company personnel. significant intersections by either independent or
alternative company personnel.
* The use of twinned holes.
* Geological interpretations were made using
cross-sections and level plans. Mining One accepted
* Documentation of primary data, data entry procedures, the Northern Zone 101 and the Southern Zones of
data verification, data storage (physical and Payback, Payback Extended, Hillside and Hillside
electronic) protocols. Extended were interpreted on cross-sections as
reported in a Pre-feasibility Study prepared by
Newmont Holdings Pty Ltd in 1982.
* Discuss any adjustment to assay data.
* A small number of twinned holes (10 pairs) were
completed by Newmont and comparison of length
weighted intercepts indicated no obvious bias.
* There is no information available on documentation of
primary data, data entry procedures, data
verification, data storage. It is assumed all data
was paper copies subsequently transcribed by
AusTinMining using a data entry bureau service.
* There are no reports of any adjustments made to the
assay data, although it appears that some transcribed
assay data was limited to 2 decimal places rendering
very low grade data as zeroes.
TMPL
* Simon Tear, a director of independent consultants H&S
Consultants Pty Ltd, has viewed and verified all core
from 6 DD holes.
* Twinning of previous Newmont drillholes has included:
o 11 TMPL DD twins of Newmont DD Holes
o 2 TMPL DD twins of Newmont OPH holes
o 5 TMPL RC twins of Newmont OPH holes
* Twin holes were selected to represent all zones of
mineralisation and the length of the known deposit.
* All results are within acceptable limits taking into
account any possible nugget effect resulting from
coarse cassiterite (noticed in three drill
intersections). Due to the small number of high grade
veins, top cutting of the high grade assays has a
negligible effect on the overall grade.
* All data is recorded on site in MSExcel spreadsheets
and this is later transferred to an MSAccess database
- the main data repository via cut and paste.
Detailed protocols for data recording, logging codes
etc are used. The assay data is received from the
laboratory (ALS) via csv and pdf files with attached
certificates. This may also be downloaded directly
from the ALS website by the senior project geologist.
The assay data is then merged using sample number.
Detailed protocols for data recording, logging codes
etc are used.
* Assays below lower detection limits were substituted
with half lower detection limit.
============================================================
Location Newmont
of data * Accuracy and quality of surveys used to locate drill * Drill hole collars were located by theodolite
points holes (collar and down-hole surveys), trenches, mine traverses by qualified surveyors.
workings and other locations used in Mineral Resource
estimation.
* A local grid parallel to the strike of the
mineralisation was used. Local grid north has a
* Specification of the grid system used. bearing of 055.103(O) true. A 3.5km baseline was
surveyed with surveyed cross-lines at 100m intervals.
* Quality and adequacy of topographic control.
* Holes were surveyed down-hole for azimuth and dip
using down-hole cameras with a range of downhole
depths from 15m to 50m. Given the generally
non-magnetic nature of the mineralisation and the
host rocks, this was a reasonable survey method.
* Topographic maps at 1:1000 scale were prepared by
Australian Aerial Mapping. The maps were related to
the local grid.
TMPL
* All hole collars are accurately surveyed post
drilling with a RTK GPS (+/-0.1m accuracy).
* All DD are surveyed downhole at 30m intervals using
Axis Champ Gyroscope.
* All RC holes are surveyed at 30m intervals using a
Trushot Digital survey tool.
* The grid system used is GDA94, zone 56.
* Topography is obtained via a LiDAR survey flown in
late 2022 and is to sub-10cm accuracy.
* All data was converted to local grid by H&SC for
resource estimation work.
* H&SC undertook field measurement of 20 drill collars
from both phases using a hand held GPS. Average
discrepancy was 0.5m in the easting and 0.5m in the
northing.
Data spacing
and * Data spacing for reporting of Exploration Results. * The Newmont drilling was nominally on a 50m by 50m
distribution pattern with 25m infill drilling in some areas.
* Whether the data spacing and distribution is
sufficient to establish the degree of geological and * The TMPL drilling completed in 2022/3 was nominally
grade continuity appropriate for the Mineral Resource at the same 50m by 50m spacing.
and Ore Reserve estimation procedure(s) and
classifications applied.
* Virtually all downhole sampling was 1m intervals from
surface.
* Whether sample compositing has been applied.
* Data spacing is sufficient to establish the
geological and grade continuity appropriate for the
Mineral Resource estimation and classification
procedures applied for this report.
* No sample compositing has been applied.
============================================================
Orientation
of data * Whether the orientation of sampling achieves unbiased * The drilling is oriented at 90deg to the strike of
in relation sampling of possible structures and the extent to the sheeted vein system.
to which this is known, considering the deposit type.
geological
structure * The vein system is sub-vertical and the drilling is
* If the relationship between the drilling orientation angled between -25deg and -60deg to be as close as
and the orientation of key mineralised structures is possible to cutting across the veins at 90deg. Due to
considered to have introduced a sampling bias, this difficulties drilling at very shallow angles,
should be assessed and reported if material. especially with RC, a default angle of -60deg was
adopted for the later TMPL drillholes.
* As drilling was designed to cut the main sheeted vein
system at as high an angle as possible, the potential
for any introduced sampling bias is considered minor.
Sample
security * The measures taken to ensure sample security. * Samples of Newmont drill core and percussion chips
were bagged and tagged and shipped to the assay
laboratory by independent third party transport. No
further information is available.
* A chain of custody was maintained for all TMPL
drilling.
* TMPL samples were placed in calico bags in groups of
seven which were then wrapped in opaque polyweave
bags, stacked on a palette and wrapped with pallet
wrap and tape.
* Samples sent to the lab via registered courier with
tracking capabilities.
* Samples arrive at the lab and were cross checked with
a separate despatch form (electronically sent to
ALS).
============================================================
Audits
or reviews * The results of any audits or reviews of sampling * An review of sampling procedures and protocols was
techniques and data. completed by Simon Tear of independent consultants
H&S Consultants Pty Ltd whilst drilling was in
progress, with some recommendations.
============= ============================================================ =============================================================================
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Criteria JORC Code explanation Commentary
Mineral
tenement * Type, reference name/number, location and ownership * The project is secured by two granted tenements:
and land including agreements or material issues with third EL8407 and ML 1774, both of which are currently in
tenure status parties such as joint ventures, partnerships, good standing. These are held 100% by TMPL.
overriding royalties, native title interests,
historical sites, wilderness or national park and
environmental settings. * No joint ventures or other encumbrances are known.
The underlying properties are freehold land owned
100% by TMPL apart from a block of Crown Land that
* The security of the tenure held at the time of covers part of the southern deposit area as defined
reporting along with any known impediments to by Newmont.
obtaining a licence to operate in the area.
* The Crown Land is the only land subject to Native
Title. No Native Title claims existed at the time the
tenements were granted.
* No national parks, historical sites or environmental
constraints are known. Recent surveys have identified
the "vulnerable" flora species Velvet Wattle. This is
currently being avoided as much as possible and is
not considered to be a major constraint moving
forward.
* The only royalty is the state of NSW royalty of 4% on
tin mined.
===============================================================
Exploration
done by * Acknowledgment and appraisal of exploration by other * Detailed exploration and feasibility studies were
other parties parties. undertaken by Newmont between 1979 and 1984. These
have been used where applicable.
* This work was undertaken to a high standard and all
data is considered to be usable.
Geology
* Deposit type, geological setting and style of * The tin deposit is a sheeted vein style +/-
mineralisation. copper-silver with horizontally and vertically
extensive veins of quartz-mica-cassiterite-sulphide
+/-fluorite-topaz occurring over a combined area of
up to 2,700m by 270m.
* The veins vary in thickness from less than 0.5mm to
100mm but are generally between 1mm and 10mm thick
and average about 20 veins per metre.
* The host rock is hornfels derived by contact
metamorphism of Permian aged metasediments by
Triassic-aged granites.
* The source of mineralising fluids is interpreted to
be an underlying intrusion of the Triassic Mole
Leucogranite, a reduced, highly fractionated, A to I
type granite. The metals of interest (Sn, Cu, Ag) are
interpreted to have been enriched in the late
magmatic fluid of this granite via enrichment of
incompatible elements during fractional
crystallisation. Breaching of the magma chamber
during brittle faulting in an ENE orientation, a
structural corridor, has tapped these enriched fluids
which have subsequently deposited the metals due to
changing temperature and pressure conditions and/or
mixing with meteoric fluids.
===============================================================
Drill hole * No Exploration Results are being reported.
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 * No Exploration Results are being reported.
aggregation * In reporting Exploration Results, weighting averaging
methods techniques, maximum and/or minimum grade truncations
(eg cutting of high grades) and cut-off grades are
usually Material and should be stated.
* Where aggregate intercepts incorporate short lengths
of high grade results and longer lengths of low grade
results, the procedure used for such aggregation
should be stated and some typical examples of such
aggregations should be shown in detail.
* The assumptions used for any reporting of metal
equivalent values should be clearly stated.
===============================================================
Relationship
between * These relationships are particularly important in the * As mineralisation is sub-vertical and while holes dip
mineralisation reporting of Exploration Results. at between -25deg and -60deg, actual true widths vary
widths and from 88% to 50% of interval widths.
intercept
lengths * If the geometry of the mineralisation with respect to
the drill hole angle is known, its nature should be * No Exploration Results are being reported.
reported.
* If it is not known and only the down hole lengths are
reported, there should be a clear statement to this
effect (eg 'down hole length, true width not known').
Diagrams * No Exploration Results are being reported.
* Appropriate maps and sections (with scales) and
tabulations of intercepts should be included for any
significant discovery being reported These should
include, but not be limited to a plan view of drill
hole collar locations and appropriate sectional
views.
===============================================================
Balanced * No Exploration Results are being reported.
reporting * Where comprehensive reporting of all Exploration
Results is not practicable, representative reporting
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, * A detailed feasibility study is currently in
exploration should be reported including (but not limited to): progress. Bulk samples have been collected for
data geological observations; geophysical survey results; metallurgical testwork and the testwork has shown
geochemical survey results; bulk samples - size and that a saleable concentrate can be produced at
method of treatment; metallurgical test results; bulk reasonable recovery using simple off the shelf
density, groundwater, geotechnical and rock gravity techniques.
characteristics; potential deleterious or
contaminating substances.
===============================================================
Further
work * The nature and scale of planned further work (eg * A definitive feasibility study is currently in
tests for lateral extensions or depth extensions or progress. No further drilling is planned as part of
large-scale step-out drilling). that process.
* Diagrams clearly highlighting the areas of possible
extensions, including the main geological
interpretations and future drilling areas, provided
this information is not commercially sensitive.
=============== =============================================================== ============================================================
Section 3 Estimation and Reporting of Mineral Resources
(Criteria listed in section 1, and where relevant in section 2, also apply to this section.)
Criteria JORC Code explanation Commentary
Database
integrity * Measures taken to ensure that data has not been * The Newmont drilling data was supplied by TMPL as an
corrupted by, for example, transcription or keying MSAccess database which had been compiled by the
errors, between its initial collection and its use previous holders of the property, AusTinMining. This
for Mineral Resource estimation purposes. data was re-imported into an MSAccess database to
allow for some error checking.
* Data validation procedures used.
* The TMPL recent drilling data was supplied as a
series of CSV files which H&SC imported into the same
MSAccess database as used for the Newmont drilling.
* TMPL digital logging process involves android based
Lenovo Tab M10 HD tablets. The tablet has a rugged
plastic and rubber waterproof case and requires a pin
code to unlock. The tablet has various templates
stored on it for recording different data sets (RC
logging, DDH logging, RQD's etc). All templates are
MSExcel spreadsheets and operate via manually typing
in the data on the tablet or utilizing pre-filled
drop-down boxes.
* Validation of the Newmont drilling by H&SC included
original assay and logging sheet checks against the
supplied digital data for a set of 13 randomly
selected drillholes. Minor typographic errors were
noted and fixed. Some of the methodology of
transcribing the hard copy data could be improved.
* H&SC completed some independent validation of the new
data to ensure the drill hole database is internally
consistent. Validation included checking that no
assays or geological logs occur beyond the end of
hole and that all drilled intervals have been
geologically logged. The minimum and maximum values
of assays and density measurements were checked to
ensure values are within expected ranges. Further
checks include testing for duplicate samples and
overlapping sampling or logging intervals.
* H&SC takes responsibility for the accuracy and
reliability of the data used in the Mineral Resource
estimates.
* H&SC used the historic local N-S orthogonal grid for
all interpretation and modelling work. For subsequent
mine planning studies this work was rotated and
converted to MGA94 Zone 56 using the Surpac 2 point
grid transformation option.
============================================================
Site visits
* Comment on any site visits undertaken by the * Two site visits were completed by Simon Tear of H&SC,
Competent Person and the outcome of those visits. in October 2022 during the recent drilling campaign
and again in June 2023 to review newly drilled
diamond core and other aspects of the sample data
* If no site visits have been undertaken indicate why collection phase.
this is the case.
* The October 2022 visit involved inspection of both
ongoing diamond and RC drilling operations. A check
on collar coordinates for 20 holes including both
historic and recent holes was completed. A review of
chip trays for 2 RC drillholes was also undertaken.
Inspection of the trial adit and its recent TMPL
sampling was also completed.
* The June 2023 visit involved inspection of 6 DD holes
from the recent hole twinning programme designed by
TMPL to test previous results from the Newmont
drilling. The inspection confirmed the geology,
mineralisation and assay grades at Taronga as
comprising thin, cassiterite-bearing veins, in a
sheeted vein system, hosted within hornfels rock.
Geological
interpretation * Confidence in (or conversely, the uncertainty of ) * The mineralisation comprises North Pit and South Pit
the geological interpretation of the mineral deposit. zones with a relatively lower grade zone in between
(partly the result of a lack of drilling and a change
in the host lithology with possibly a change in the
* Nature of the data used and of any assumptions made. rheological properties of the host).
* The effect, if any, of alternative interpretations on * The North Pit comprises two higher grade elongate tin
Mineral Resource estimation. zones with an enveloping zone of lower grade tin
forming a single mass. Whilst the South Pit comprises
up to five distinct and well separated elongate
* The use of geology in guiding and controlling Mineral tin-enriched zones with parallel strike and dip.
Resource estimation.
* The host rock is the result of relatively uniform
* The factors affecting continuity both of grade and hornfelsing of either siltstone or sandstone.
geology.
* Mineralisation consists of quartz-cassiterite veins
from hairline fractures to veins up to 5-10cm thick.
Chalcopyrite and arsenopyrite disseminations, blebs
and veinlets are commonly associated with the
tin-bearing veins. Minor pyrite zones are
occasionally visible.
* There is no obvious visible lithological or
structural control to the tin mineralisation, save
for a broad NE/SW striking enriched zone, presumably
some form of structural corridor. The system has been
interpreted as a sheeted vein deposit.
* No geological interpretation per se has been
completed as the tin grades define the tin
mineralization in the rather amorphous-looking
hornfels. Any wireframe for the tin mineralization
would ultimately be a simple grade shell.
* There is insufficient data to define with confidence
any specific or significant fault structure.
* A review of multi-element data from the recent
drilling has allowed for the interpretation of a
sodium depletion zone corresponding with a weak
potassic enrichment as matching the definition of the
tin mineralisation. The study also highlighted a
lithogeochemical difference between the host rocks
for the South and North Pits.
* An oxidation surface, reflecting both complete and
partial weathering, was developed by H&SC from logged
historic and recent drilling data, with support from
the multielement assays. Confidence in the surface is
moderate as the data is incomplete and there is
uncertainty as to whether weathering has formed a
broad, horizontal front roughly parallel to the
surface topography and/or that there are more
isolated, penetrative fingers of weathering to
greater depths via fault structures.
============================================================
Dimensions
* The extent and variability of the Mineral Resource * The Mineral Resources have a strike length of around
expressed as length (along strike or otherwise), plan 2.7km in a north easterly (grid north) direction. The
width, and depth below surface to the upper and lower plan width of the resource varies from 200m to 400m
limits of the Mineral Resource. with an average of around 270m. The upper limit of
the mineralisation is exposed with the fresh rock
generally occurring around 20m below surface and the
lower limit of the Mineral Resources extends to an
approximate depth of 550m below surface (400mRL).
* The lower limit to the Mineral Resource is a direct
function of the depth limitations to the drilling in
conjunction with the search parameters. The
mineralisation is open at depth and laterally to the
southwest, beyond the South Pit zone.
Estimation
and modelling * The nature and appropriateness of the estimation * The drillhole database was composited with no
techniques technique(s) applied and key assumptions, including constraints to 1m composites covering the whole of
treatment of extreme grade values, domaining, the prospect.
interpolation parameters and maximum distance of
extrapolation from data points. If a computer
assisted estimation method was chosen include a * Ordinary Kriging (OK) with two search domains was
description of computer software and parameters used. used to complete the tin grade estimation using
H&SC's in-house GS3M modelling software. The
geological interpretation and block model creation
* The availability of check estimates, previous and validation was completed using the Surpac mining
estimates and/or mine production records and whether software. H&SC considers OK to be an appropriate
the Mineral Resource estimate takes appropriate estimation technique for the type of mineralisation
account of such data. and extent of data available. The tin composite data
has a relatively low coefficient of variation of
approximately 1.6 (CV = standard deviation divided by
* The assumptions made regarding recovery of the mean).
by-products.
* Regression equations based on newly available assay
* Estimation of deleterious elements or other non-grade data were used to estimate missing copper, arsenic
variables of economic significance (eg sulphur for and sulphur composite values. The arsenic and sulphur
acid mine drainage characterisation). datasets are a lot smaller in number compared to the
copper and silver data. Correlation between the
various elements was modest to weak but generated
* In the case of block model interpolation, the block regression equations based on the tin grade, using
size in relation to the average sample spacing and the Conditional Expectation technique, resulted in
the search employed. plausible outcomes for Cu, As, Ag & S. It should be
noted that the copper, arsenic, silver and sulphur
are not reported as part of the Mineral Resources and
* Any assumptions behind modelling of selective mining that the numbers are generated from less data than
units. that used in the tin Mineral Resources; the elements
were modelled to allow for waste rock
characterisation. OK was also used to model these
* Any assumptions about correlation between variables. other elements.
* Description of how the geological interpretation was * A total of 35,176 1m composites, excluding residuals
used to control the resource estimates. (137), were generated from the drillhole database and
modelled for tin, copper, arsenic, silver & sulphur.
* Discussion of basis for using or not using grade
cutting or capping. * Grade interpolation was unconstrained, except by the
search parameters and the variography, in
acknowledgement of the gradational nature to the
* The process of validation, the checking process used, margins of the tin mineralisation and the abundance
the comparison of model data to drill hole data, and of peripheral assays.
use of reconciliation data if available.
* There were very minor zones of unsampled core which
were generally surrounded by very low grades and
therefore did not require the insertion of very low
grades. These areas were invariably allocated very
low block grades from the subsequent grade
interpolation.
* The base of oxidation was treated as a soft boundary.
No cover surface was created as the mineralisation is
outcropping and is exposed in many places along its
ridge line and flanks.
* No top-cutting was applied as extreme values were
considered by H&SC as not significant and therefore
top-cutting was considered unnecessary.
* An OK check model using the same composite data was
completed using the OK option in Surpac. The outcome
confirmed the original model. A check Multiple
Indicator Kriging model (in the GS3M software) was
completed using the same composite data. Again the
outcome confirmed the original model. An OK check
model without the JACRO composite data yielded very
similar outcomes to the original Measured and
Indicated Resources.
* Block dimensions are 5m by 10m by 5m (Local E, N, RL
respectively) with no sub-blocking. The north
dimension was chosen as it is around half to a third
of the nominal drillhole distances in the detailed
drilled area of the South Pit. The east dimension was
chosen to take into account the geometry and
thickness of the mineralisation in the South Pit. The
vertical dimension was chosen to reflect the sample
spacing and possible mining bench heights and to
allow for flexibility in potential mining scenarios.
* Two search domains were employed, one for the South
Pit (domain 1) and another for the North Pit (domain
2) respectively, reflecting a modest change in strike
between the two zones.
* All elements were modelled as a combined dataset. 5
search passes were employed with progressively larger
radii or decreasing data point criteria. The Pass 1
used radii of 35m by 35m by 5m (along strike, down
dip and across mineralisation respectively), Passes
2, 3 and 4 used 50m by 50m by 10m, 70m by 70m by 10m
& 100m by 100m by 20m respectively, Minimum number of
data was 12, maximum number of data was 32 with a
minimum of 4 octants. A fifth pass used 100m by 100m
by 20m with a minimum of 6 data points from at least
2 octants.
* The maximum extrapolation for the Mineral Resources
was in the order of 100m down dip and 100m along
strike to the NE.
* The resource estimates are controlled by the data
point distribution, the variography, block size and
the search ellipse. Conventional use of wireframes to
control the mineralisation was not considered
necessary. A preliminary resource model had been
completed prior to the 2022/3 drilling to ascertain
likely dilution grades for peripheral material to the
main tin mineralisation with the subsequent infill
drilling results generally matching this preliminary
model.
* The new block model was reviewed visually by H&SC and
it was concluded that the block model fairly
represents the grades observed in the drill holes.
H&SC also validated the block model using a variety
of summary statistics and statistical plots. No
issues were noted.
* Comparison with the 2013 resource estimates indicated
a larger tonnage for the 2023 Mineral Resource at
approximately the same tin grade. The main increase
in tonnage was for the South Pit due to the modelling
method extrapolating much further than the rather
tight wireframes that were used previously to
constrain the mineralisation. The increase is also
mainly the result of the additional exploratory TMPL
drilling to the south west. Also greater confidence
in the Newmont drilling data has been achieved with
the twin holes and the repeat adit sampling to allow
for Measured Resource to be categorised.
============================================================
Moisture
* Whether the tonnages are estimated on a dry basis or * Tonnages of the Mineral Resources are estimated on a
with natural moisture, and the method of dry weight basis.
determination of the moisture content.
Cut-off
parameters * The basis of the adopted cut-off grade(s) or quality * The resources are reported at a tin cut-off of 0.05%
parameters applied. based on the outcome of a recently completed
throughput study by independent mining consultants
AMDAD of Brisbane.
* The cut-off grade at which the resource is quoted
reflects the intended bulk-mining approach.
============================================================
Mining
factors * Assumptions made regarding possible mining methods, * The Mineral Resources were estimated on the
or assumptions minimum mining dimensions and internal (or, if assumption that the material is to be mined by open
applicable, external) mining dilution. It is always pit using a bulk mining method.
necessary as part of the process of determining
reasonable prospects for eventual economic extraction
to consider potential mining methods, but the * The proposed mining method is a conventional drill &
assumptions made regarding mining methods and blast, truck & excavator with extracted material sent
parameters when estimating Mineral Resources may not to an on-site ROM pad with a processing plant
always be rigorous. Where this is the case, this adjacent to the planned pit.
should be reported with an explanation of the basis
of the mining assumptions made.
* Minimum mining dimensions are envisioned to be around
10m by 5m by 5m (strike, across strike, vertical
respectively). The block size is relatively larger
than the likely minimum mining dimensions.
* The resource estimation includes internal mining
dilution.
Metallurgical
factors * The basis for assumptions or predictions regarding * Industry standard processing is envisaged for the
or assumptions metallurgical amenability. It is always necessary as deposit.
part of the process of determining reasonable
prospects for eventual economic extraction to
consider potential metallurgical methods, but the * A processing flowsheet has been proposed that will
assumptions regarding metallurgical treatment involve comminution, gravity separation and
processes and parameters made when reporting Mineral floatation to generate a tin concentrate.
Resources may not always be rigorous. Where this is
the case, this should be reported with an explanation
of the basis of the metallurgical assumptions made. * The hardness of ore material is at a manageable
level.
* Initial testwork has demonstrated that penalty
elements can be limited to acceptable levels.
* Waste products from processing can suitably be dealt
with.
============================================================
Environmen-tal
factors * Assumptions made regarding possible waste and process * The deposit lies within hilly, open country typical
or assumptions residue disposal options. It is always necessary as of the NSW Northern Tablelands.
part of the process of determining reasonable
prospects for eventual economic extraction to
consider the potential environmental impacts of the * Land use is predominantly cattle grazing on native or
mining and processing operation. While at this stage improved pasture.
the determination of potential environmental impacts,
particularly for a greenfields project, may not
always be well advanced, the status of early * There are limited flat areas for waste and tailings
consideration of these potential environmental disposal. Most likely sites are north of a ridge line
impacts should be reported. Where these aspects have just north of the proposed pits.
not been considered this should be reported with an
explanation of the environmental assumptions made.
* Thera are a small number of creeks with seasonal
flows.
* The host rocks have relatively low sulphur contents.
* Some of the mined material has acid neutralising
capacity.
* Baseline data collection of a variety of
environmental parameters is in progress e.g.
biodiversity, surface water and groundwater.
Bulk density
* Whether assumed or determined. If assumed, the basis * Original bulk density measuring work completed by
for the assumptions. If determined, the method used, Newmont used single pieces of core subjected to the
whether wet or dry, the frequency of the measurements weight in air/weight in water method (Archimedes
, Principle). The result was a set of default
the nature, size and representativeness of the densities: 2.8t/m(3) for 'ore' (>0.1%Sn) and
samples. 2.7t/m(3) for waste.
* The bulk density for bulk material must have been * The 2013 Mining One estimate used a global default of
measured by methods that adequately account for void 2.75t/m(3) .
spaces (vugs, porosity, etc), moisture and
differences between rock and alteration zones within
the deposit. * Work completed by TMPL used a weight in air/weight in
water procedure on 415 samples of diamond core. The
average value was 2.75t/m(3) .
* Discuss assumptions for bulk density estimates used
in the evaluation process of the different materials.
* Core inspection indicated very competent core with no
significant vughs.
* H&SC subdivided the samples using the base of
oxidation surface to ascertain the impact of surface
weathering on the density. The impact was marginal
with slightly lower values in the oxidized zone as
would be expected. Default values were inserted into
the block model for oxide and fresh rock that had
interpolated grades for the North Pit, and the
Hillside and Payback subdivisions of the South Pit.
* A density of 2.65t/m(3) was applied to all 'waste'
i.e. blocks with no interpolated tin grade.
============================================================
Classification
* The basis for the classification of the Mineral * The classification of the resource estimates is based
Resources into varying confidence categories. on the data point distribution which is a function of
the drillhole spacing.
* Whether appropriate account has been taken of all
relevant factors (ie relative confidence in * A defined shape was used for the Measured Resource in
tonnage/grade estimations, reliability of input data, the North Pit in order to remove a 'spotted dog'
confidence in continuity of geology and metal values, effect.
quality, quantity and distribution of the data).
* Other aspects have been considered in the
* Whether the result appropriately reflects the classification including, the style of mineralisation
Competent Person's view of the deposit. ,
the geological model, validation of the historic
drilling, sampling methods and recoveries,
non-sampled zones, the QAQC programme and results and
comparison with previous resource estimates.
* H&SC believes the confidence in tonnage and grade
estimates, the continuity of geology and grade, and
the distribution of the data reflect Measured,
Indicated and Inferred categorisation. The estimates
appropriately reflect the Competent Person's view of
the deposit. H&SC has assessed the reliability of the
input data and takes responsibility for the accuracy
and reliability of the data used to estimate the
Mineral Resources.
Audits * No audits or reviews have been completed.
or reviews * The results of any audits or reviews of Mineral
Resource estimates.
============================================================
Discussion
of relative * Where appropriate a statement of the relative * No statistical or geostatistical procedures were used
accuracy/ accuracy and confidence level in the Mineral Resource to quantify the relative accuracy of the resource.
confidence estimate using an approach or procedure deemed The global Mineral Resource estimates of the Taronga
appropriate by the Competent Person. For example, the deposit are moderately sensitive to higher cut-off
application of statistical or geostatistical grades but does not vary significantly at lower
procedures to quantify the relative accuracy of the cut-offs.
resource within stated confidence limits, or, if such
an approach is not deemed appropriate, a qualitative
discussion of the factors that could affect the * The relative accuracy and confidence level in the
relative accuracy and confidence of the estimate. Mineral Resource estimates are considered to be in
line with the generally accepted accuracy and
confidence of the nominated Mineral Resource
* The statement should specify whether it relates to categories. This has been determined on a qualitative
global or local estimates, and, if local, state the ,
relevant tonnages, which should be relevant to rather than quantitative, basis, and is based on the
technical and economic evaluation. Documentation Competent Person's experience with similar deposits
should include assumptions made and the procedures and geology.
used.
* The Mineral Resource estimates are considered to be
* These statements of relative accuracy and confidence accurate globally, but there is some uncertainty in
of the estimate should be compared with production the local estimates due to the current drillhole
data, where available. spacing, a lack of geological definition in certain
places eg fault zones and penetration depths of
surface weathering,
* No mining of the deposit has taken place, so no
production data is available for comparison.
=============== ============================================================ ============================================================
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