Exciting new oxide discoveriesincrease Syama gold inventory
Diamond drilling at Tabakoroni to continue throughout 2020
Tabakoroni Underground Mine feasibility study progressing
Highlights
•
Excellent drilling results from Tabakoroni drilling confirm high grade shoots with 12m at 93.16g/t Au from 133m
•
Tabakoroni mineralisation now delineated to modest depths of ~250m with significant further depth potential
•
Infill and extensional drilling expected to extend the Tabakoroni Underground Mineral Resource
•
Drilling program at Tabakoroni will continue throughout 2020 along 1.8km strike length of identified mineralisation
•
Planning for the development of a new underground mine at Tabakoroni has now commenced
•
Underground Mine Feasibility Study progressing including technical assessments and metallurgical test work
•
Additional oxide resources have been identified at Syama satellite prospects by regional drilling
•
High grade oxide resources delineated at Cashew and Paysans prospects will be included in updated mine plan
•
Positive results confirm the exceptional exploration potential of Resolute's extensive Syama tenure
Resolute Mining Limited (Resolute or the Company) (ASX/LSE: RSG) is pleased to announce exploration results from the Company's 2019 drilling campaigns in Mali. Drilling has been focused on expanding Mineral Resources at Syama satellite prospects. The positive results received will expand sulphide resources at Tabakoroni as well as build on the open pit oxide Mineral Resource inventory at Tabakoroni, Cashew and Paysans.
Managing Director and CEO, Mr John Welborn, was pleased by the continuing exploration success at Syama:
"We continue to receive excellent high-grade intersections from drilling at Tabakoroni. We remain confident that further drilling will expand our underground resource model and form the basis of a future high-grade underground mine. Of equal importance is our success in growing available oxide resources. Open pit mining at Tabakoroni is exceeding expectations with high grade ore resulting in record production from the Syama oxide processing circuit in 2019. The success of our regional oxide exploration programs provides obvious opportunity to extend the oxide mining inventory.
"Resolute controls 80km of greenstone belt strike along the prolific Syama shear zone. Exploration on our tenements at Syama has already defined more than 10 million ounces of gold. We expect our investment in exploration at Syama to accelerate in 2020 with strong cashflows from both the oxide and sulphide processing plants."
Please see image in the full version of the announcement at www.rml.com.au
Figure 1: Resolute's Syama tenement package with identified exploration prospects
Tabakoroni Exploration Results
Recent results from infill drilling have confirmed the width and tenor of the mineralisation with some standout intersections. A very high-grade result in TADD729 returned 12m at 93.61g/t Au. This exceptional intersection, located in the centre of the Tabakoroni Main Shear Zone (TMSZ), was sourced from stylolitic quartz veins which contained abundant visible gold. This result confirms the very high-grade shoot which is located underneath the Tabakoroni North pit.
Further significant intersections were returned from TADD686 including 21m at 3.22g/t Au from a hanging wall mineralised zone and 11m at 3.51g/t Au from within the TMSZ. These intersections are more than 100m below the base of the current resource model and prove that the Tabakoroni ore grade mineralisation continues at depth.
Significant drill intersections greater than 50 gram-metre gold recently returned include:
· TADD676 - 14m @ 16.7g/t Au from 294m
· TADD686 - 21m @ 3.2g/t Au from 340m
· TADD725 - 13m @ 10.7g/t Au from 235m
· TADD726 - 34m @ 3.4g/t Au from 210m
· TADD729 - 12m @ 93.6g/t Aufrom 133m
· TARC651 - 15m @ 4.8g/t Au from 101m
· TARC689 - 5m @ 13.2g/t Au from 18m
· TARC694 - 4m @ 21.9g/t Au from 74m
· TARC704 - 2m @ 44.0g/t Au from 186m
· TARC716 - 9m @ 6.0g/t Au from 142m
The location of the intersection pierce points are presented in Figure 2 and the full details are attached as Appendix 1. Figure 2 displays the resource block model gold grades which outline the much higher grade greater than 10g/t Au "shoots" within the overall 5g/t Au resource.
Tabakoroni Underground Mineral Resources
Resolute announced a maiden underground Mineral Resource for Tabakoroni in April 2019 of 5.2Mt at 5.1g/t Au for 850,000oz of gold (see ASX Announcement dated 29 April 2019). Exploration has continued since April with recent diamond drilling comprising a combination of infill resource drilling and resource expansion drilling.
Infill drilling has been targeted to upgrade the substantial Inferred category Mineral Resources in the maiden underground Mineral Resource to the Indicated category. This drilling has increased confidence in the initial estimate and will form the basis of an expanded Mineral Resource for use in the current underground feasibility study.
Drilling will continue throughout 2020 with the expectation of increased Mineral Resources. Exploration drilling has been limited to 250m below surface and as such, excellent potential exists for the deposit to grow at depth.
Potential Future Tabakoroni Underground Mine
The drilling results at the Tabakoroni Main Zone at modest depths continues to increase the dimensions of the high-grade sulphide zones. Consequently, a feasibility study has commenced into the development of a new underground mine. The study will examine options for selective mining of high-grade shoots within the Tabakoroni resource of 1Moz @ 5.0g/t Au (see ASX announcement 29 April 2019). The Tabakoroni deposit is well suited to mechanised underground mining methods, with sub vertical ores zones, and mineralised widths of 5-7m. Studies in 2020 will focus on Mineral Resource expansion and re-estimation, geotechnical assessment and metallurgical test work. To date, metallurgical assessment of fresh ore indicates similar characteristics to the Syama deposit. Work in 2020 will be focused on confirming the flow sheet and anticipated recoveries.
The Company aims to have completed its studies in 2020. If the studies confirm the feasibility of the project, development could be expected to commence in 2021 / 2022.
Please see image in the full version of the announcement at www.rml.com.au
Figure 2: Tabakoroni Longitudinal Section with Resource Model and drillhole pierce points
Syama Satellite Oxide Exploration Results
Resolute has conducted regional exploration focused on expansion of available satellite oxide deposits. Recent work has focused on the Cashew NE and Paysans prospects which are in close proximity of the Syama processing plant. Ore from these satellite deposits has the potential to provide additional feed for the oxide circuit and extend oxide processing mine life at Syama.
Cashew NE
Cashew NE is located 5 kilometres south of the Syama processing plant and immediately adjacent to the Tabakoroni haul road.
A review of historical drilling in 2017 identified an anomalous aircore hole on the northernmost drill line across the Cashew prospect area. Follow up aircore drilling in late 2017 and reverse circulation (RC) drilling in 2018-2019 outlined a series of shallow west dipping mineralised zones. Currently defined mineralisation is mostly oxide or transitional, with relic quartz veining and some fine pyrite observed in the less weathered units. The geology is comprised of shallow west dipping basalts overlying shale/greywacke sequences with occasional lamprophyre dykes proximal to the contact.
The prospect has now been drilled out at 25m centres to identify a mineable oxide resource. Results from the recent drilling program include (all results greater than 50 gram-metre):
· CSDD113 - 8m @ 8.1g/t Au from 20m
· CSRC088 - 13m @ 5.4g/t Au from 9m
· CSRC090 - 30m @ 4.7g/t Au from 27m
· CSRC094 - 6m @ 14.0g/t Au from 7m
· CSRC095 - 10m @ 5.7g/t Au from 18m
· CSRC100 - 3m @ 23.8g/t Au from 45m
· CSRC125 - 12m @ 5.6g/t Au from 17m
· CSRC129 - 16m @ 3.5g/t Au from 8m
· CSRC129 - 6m @ 9.8g/t Au from 53m
· CSRC130 - 23m @ 5.9g/t Au from 50m
· CSRC131 - 21m @ 4.1g/t Au from 65m
Cashew NE Oxide Mineral Resource
Following the completion of the infill drilling and the return of all analytical results a Mineral Resource was estimated for Cashew NE. This new oxide resource consists of 1.6Mt at 2.0g/t Au for ~100,000 ounces of gold (see Table 1 below).
Mineralisation wireframes were created with a cut‐off grade of 0.3g/t Au with a minimum downhole thickness of 2m. Three domains have been identified at Cashew. The three domains have been named upper lode, central lode and lower lode which all dip 30 degrees to the west (local grid). Gold was estimated into a three‐dimensional block model by ordinary kriging (OK) using the wireframes as hard boundaries.
Cashew - October 2019 Mineral Resource above 1g/t Au
Indicated
Inferred
Total
Material
Tonnes
(000s)
Grade
(g/t Au)
Ounces
(000s)
Tonnes
(000s)
Grade
(g/t Au)
Ounces
(000s)
Tonnes
(000s)
Grade
(g/t Au)
Ounces
(000s)
Oxide
570
2.33
40
0
1.14
10
570
2.33
50
Transitional
170
1.91
10
0
0.00
0
170
1.91
10
Sub Total
750
2.23
50
0
1.14
10
750
2.23
50
Fresh
810
1.86
50
50
1.65
0
860
1.85
50
Total
1,560
2.04
100
50
1.65
0
1,610
2.02
100
Table 1: Cashew NE Mineral Resource at October 2019
Notes: 1. Reported above a cut-off grade of 1g/t Au.
2. All tonnages and grades have been rounded to reflect the relative uncertainty of the estimate, thus sum of columns may not equal.
The dimensions of the deposit are ideal for open pit mining and the majority of the resource is expected to report to an optimised pit with a low strip ratio.
Please see image in the full version of the announcement at www.rml.com.au
Figure 3: Cashew NE prospect with drill hole locations over geology and satellite imagery
Paysans
Paysans is located only 4km south of Syama and is superbly situated to provide future feed to the Syama oxide processing plant. The Paysans deposit has been defined over a strike length of 1.7km, consisting of 40 to 100m wide zones of narrow shallow west dipping gold mineralisation. The geology consists of mostly predominantly sediments (greywacke/siltstone) and minor basalts and intrusions of lesser dolerite and lamprophyre.
Paysans mineralisation is contained in the oxide to transition zones, and marked by relic quartz veining. During 2019, a 25m by 25m infill drilling program was completed to convert the resources in the oxide and transitional zones to indicated category. Listed below are some of the better intercepts from the program.
· PARC129 - 16m @ 3.0g/t Au from 19m
· PARC145 - 6m @ 4.8g/t Au from 19m
· PARC154 - 5m @ 5.1g/t Au from 74m
· PARC156 - 14m @ 3.2g/t Au from 36m
· PARC157 - 4m @ 7.5g/t Au from 9m
· PARC182 - 9m @ 12.9g/t Au from 10m
· PARC183 - 7m @ 11.4g/t Au from 25m
· PARC198 - 11m @ 3.3g/t Au from 54m
· PARC199 - 10m @ 2.5g/t Au from 59m
· PARC207 - 9m @ 3.2g/t Au from 16m
· PARC213 - 5m @ 5.5g/t Au from 24m
Please see image in the full version of the announcement at www.rml.com.au
Figure 4: Paysans drill hole locations over geology and satellite imagery
Paysans Oxide Mineral Resource
Following the completion of recent drilling and the return of all analytical results, a Mineral Resource was estimated for Paysans. The Paysans resource had previously been published in the Resolute Annual Ore Reserves and Mineral Resources statement based on an unconstrained MIK resource model. The updated resource model is estimated using ordinary kriged methodology constrained by wireframes. The new model consists of 5.1Mt at 1.7g/t Au for approximately 270,000 ounces of gold (see Table 2 below).
Paysans - August 2019 Mineral Resource above 1g/t Au
Indicated
Inferred
Total
Material
Tonnes
(000s)
Grade
(g/t Au)
Ounces
(000s)
Tonnes
(000s)
Grade
(g/t Au)
Ounces
(000s)
Tonnes
(000s)
Grade
(g/t Au)
Ounces
(000s)
Oxide
900
1.75
50
40
1.44
0
940
1.74
50
Transitional
470
1.71
30
50
1.36
0
520
1.68
30
Sub Total
1,370
1.74
80
90
1.40
0
1,460
1.72
80
Fresh
2,840
1.65
150
830
1.58
40
3,670
1.64
190
Total
4,210
1.68
230
920
1.56
40
5,130
1.66
270
Table 2: Paysans Mineral Resource at October 2019
Notes: 1. Reported above a cut-off grade of 1g/t Au.
2. All tonnages and grades have been rounded to reflect the relative uncertainty of the estimate, thus sum of columns may not equal.
About Tabakoroni
Location and Background
Tabakoroni is located within the Finkolo Permit, 35km south of the Syama processing plant in southern Mali. Resolute completed the acquisition of the Finkolo Permit in April 2018 (see ASX Announcement dated 25 May 2018). Resolute's initial exploration focus at Tabakoroni was on identifying oxide resources. As at 29 April 2019, Tabakoroni's Mineral Resource was 1.03Moz of gold (6.3Mt at 5.1g/t Au). Open pit operations commenced at Tabakoroni in late 2018 with high grade oxide and transitional material currently being mined and processed through the 1.5 million tonne per annum Syama oxide circuit.
Geology and Mineralisation
Gold mineralisation at Tabakoroni is hosted within the 5m to 25m thick Tabakoroni Main Shear Zone (TMSZ), a brittle-ductile shear zone developed in carbonaceous shale and siltstone rocks and localised along the eastern margin of Syama Formation basalt-dolerite flows and interflow sediments. The TMSZ gold mineralisation is associated with pyritic and carbonaceous fault gouge. Adjacent sandstone and siliceous siltstone display stockwork quartz-carbonate veins with pyrite disseminated throughout. Stylolitic quartz reefs are developed along the length of the TMSZ.
Drilling to date has identified high grade gold mineralisation over a strike length of 1.7km with better gold grades seen where the shear intersects the basalt sediment contact. North of the Namakan pit the basalt is absent in the hanging wall and better grades are associated with felsic porphyry intrusives within the TMSZ.
Ongoing Tabakoroni Exploration
Diamond drilling at Tabakoroni is continuing with two rigs targeting the down plunge extensions of the currently defined resources. The program is continuing with significant results to be released when available.
Resolute is a successful, dividend paying gold miner with 30 years of experience as an explorer, developer and operator of gold mines in Australia and Africa which have produced more than eight million ounces of gold.
Resolute's production and cost guidance for the 12 months to 31 December 2019 is 400,000 ounces of gold at an All-In Sustaining Cost of US$1,020 per ounce.
Resolute owns four gold mines. Its flagship asset is the world class Syama Gold Mine in Mali (Syama) which can produce more than 300,000 ounces of gold per annum from existing processing infrastructure. Resolute is currently commissioning the world's first fully automated underground mine at Syama which will deliver a low cost, large scale operation with a mine life beyond 2032. The Mako Gold Mine in Senegal is a high quality, low cost asset with average annual production of ~140,000 ounces of gold. The Ravenswood Gold Mine in Australia and the Bibiani Gold Mine in Ghana are existing largescale assets which provide Resolute with significant production growth potential. Resolute has a pathway to annual gold production in excess of 500,000 ounces from a Global Mineral Resource base of more than 18 million ounces of gold.
Resolute trades on the Australian Securities Exchange (ASX) and the London Stock Exchange (LSE) under the ticker RSG.
Competent Persons Statement
The information in this announcement that relates to Exploration Results is based on information compiled by Mr Bruce Mowat, a Competent Person who is a Member of the Australian Institute of Geoscientists and is a full-time employee of Resolute Mining Ltd. Mr Mowat has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Mineral Resources and Ore Reserves". Mr Mowat consents to the inclusion in the report of the matters based on the information in the form and context in which it appears.
The information in this announcement that relates to the Mineral Resource estimate has been based on information and supporting documents prepared by Mrs Susan Havlin, a Competent Person who is a Member of The Australasian Institute of Mining and Metallurgy. Mrs Havlin is an employee of Optiro and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which has been undertaken to qualify as a Competent Person. Mrs Havlin confirms that the Mineral Resource estimate is based on information in the supporting documents and consents to the inclusion in the report of the Mineral Resource estimate and related content based on the information in the form and context in which it appears.
Authorised by Mr John Welborn, Managing Director and CEO
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (MAR). Upon the publication of this announcement via a Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.
ASX/LSE: RSG Capital Summary
Fully Paid Ordinary Shares: 903,153,734
Current Share Price:
A$1.16 as at 11 December 2019
Market Capitalisation: A$1.05 billion
FY19 Guidance (to 31 December):
400,000oz @ AISC US$1,020/oz
Board of Directors
Mr Martin Botha Non-Executive Chairman
Mr John Welborn Managing Director & CEO
Ms Yasmin Broughton Non-Executive Director
Mr Mark Potts Non-Executive Director
Ms Sabina Shugg Non-Executive Director
Mr Peter Sullivan Non-Executive Director
Contact
John Welborn Managing Director & CEO
Jeremy MeynertGM -BD & IR
Level 2, Australia Place | 15-17 William St
Perth, Western Australia 6000
T: +61 8 9261 6100 s="a">
Appendix 1: Tabakoroni drilling results
Hole_ID
North (WGS)
East (WGS)
RL
(m)
Dip
Azi
(WGS)
EOH
(m)
From
(m)
To
(m)
Width
(m)
Au
(g/t)
TARC651
1164276
810381
360
-72
62
182
101
116
15
4.82
TADD682
1163739
810361
378
-63
62
554
212
215
3
7.45
TADD686
1163867
810271
370
-71
62
398.2
340
361
21
3.22
387
398.2
11.2
3.51
TADD686W
1163867
810271
370
-71
62
521.1
386
397
11
2.02
TARC689
1164697
810266
345
-60
65
90
18
23
5
13.19
TARC693
1164504
810385
349
-60
65
120
79
88
9
5.68
TARC694
1164572
810371
347
-60
65
80
74
78
4
21.87
TARC696
1164551
810252
352
-57
65
120
101
113
12
2.5
TARC697
1164619
810276
349
-50
65
75
54
60
6
6.97
TADD701
1164773
810085
341
-63
60
249
167
180
13
1.63
TADD702
1164618
810108
346
-56
62
300
230
238
8
3.91
TADD703
1163898
810337
375
-58
63
403
320
330
10
4.5
TARC704
1163631
810592
377
-60
60
228
127
133
6
4.25
186
188
2
43.95
TADD705
1164008
810332
372
-61
63
344.5
83
92
9
2.42
252
268
16
1.4
284
295
11
2.69
TARC706
1163475
810613
373
-53
65
218
136
143
7
3.75
TARC709
1163594
810627
376
-55
64
130
109
116
7
6.05
TARC710
1163683
810587
378
-61
64
189
125
132
7
4.34
TARC715
1163298
810664
331
-64
83
204
33
51
18
2.03
TARC716
1163632
810594
377
-55
67
190
0
7
7
2.91
142
151
9
5.98
TARC717
1163878
810553
330
-61
56
150
102
107
5
5.98
TARC718
1163837
810568
330
-64
63
160
32
39
7
3.83
127
136
9
3.49
TADD720
1163774
810429
386
-66
60
389.8
329
337
8
2.85
TARC724
1163716
810536
382
-49
64
229
15
23
8
3.74
139
144
5
5.87
186
202
16
3.25
TADD725
1164377
810241
356
-56
64
290.2
235
248
13
10.66
TADD726
1164460
810247
357
-65
64
300.5
178
204
26
1.41
210
244
34
3.39
TADD729
1164326
810310
357
-55
61
234.5
133
145
12
93.61
Notes to Accompany Table:
• Grid coordinates are WGS84 Zone 29 North
• RC intervals are sampled every 1m by dry riffle splitting or scoop to provide a 1-3kg sample
• Diamond core are sampled every 1m by cutting the core in half to provide a 2-4kg sample
• Cut-off grade for reporting of intercepts is >1g/t Au with a maximum of 3m consecutive internal dilution included within the intercept; only intercepts >=2m and >=20 gram x metres are reported
• Samples are analysed for gold by 30g fire assay fusion with AAS instrument finish; over-range results are reanalysed by 30g fire assay fusion with gravimetric finish
Appendix 2: Cashew North Drilling Results
Hole_ID
North (WGS)
East (WGS)
RL
(m)
Dip
Azi
(WGS)
EOH
(m)
From
(m)
To
(m)
Width
(m)
Au
(g/t)
CSRC088
1190190
816826
367
-60
115
90
9
22
13
5.42
CSRC089
1190200
816801
366
-60
115
90
23
27
4
5.88
CSRC090
1190210
816780
365
-60
115
100
27
57
30
4.66
CSRC092
1190238
816666
361
-62
115
120
89
98
9
3.32
CSRC094
1190165
816759
366
-60
115
72
7
13
6
14.01
CSRC095
1190176
816735
365
-60
115
80
18
28
10
5.68
CSRC096
1190187
816715
364
-60
115
108
24
30
6
5.08
CSRC100
1190100
816785
365
-60
111
72
45
48
3
23.82
CSDD113
1190222
816759
365
-63
117
108.5
20
28
8
8.1
40
49
9
4.78
66
73
7
5.82
CSRC125
1190165
816706
364
-60
115
90
17
29
12
5.6
CSRC127
1190177
816682
362
-65
115
128
31
48
17
2.57
97
102
5
4.45
CSRC128
1190211
816667
361
-61
117
132
57
70
13
2.17
CSRC129
1190195
816757
365
-61
113
110
8
24
16
3.53
36
42
6
5.5
53
59
6
9.78
CSRC130
1190216
816712
363
-63
119
120
37
42
5
4.63
120
50
73
23
5.93
CSRC131
1190236
816734
363
-67
115
120
39
47
8
2.73
120
65
86
21
4.14
CSRC132
1190245
816712
362
-66
114
132
67
82
15
2.71
132
93
99
6
3.97
CSRC134
1190270
816715
362
-62
115
153
97
108
11
2.8
Notes to Accompany Table:
• Grid coordinates are WGS84 Zone 29 North
• RC intervals are sampled every 1m by dry riffle splitting or scoop to provide a 1-3kg sample
• Diamond core are sampled every 1m by cutting the core in half to provide a 2-4kg sample
• Cut-off grade for reporting of intercepts is >1g/t Au with a maximum of 3m consecutive internal dilution included within the intercept; only intercepts >=2m and >=20 gram x metres are reported
• Samples are analysed for gold by 30g fire assay fusion with AAS instrument finish
Appendix 3: Paysans Drilling Results
Hole_ID
North (WGS)
East (WGS)
RL
(m)
Dip
Azi
(WGS)
EOH
(m)
From
(m)
To
(m)
Width
(m)
Au
(g/t)
PARC129
1192137
817964
340
-60
115
42
19
35
16
3
PARC145
1191975
817780
336
-60
115
42
19
25
6
4.77
PARC149
1192018
817688
335
-60
115
60
12
20
8
2.54
PARC154
1191972
817666
335
-60
115
84
74
79
5
5.06
PARC156
1191993
817622
335
-60
115
100
36
50
14
3.21
PARC157
1191947
817662
335
-60
115
75
9
13
4
7.47
PARC182
1191489
817466
335
-60
115
40
10
19
9
12.93
PARC183
1191499
817443
335
-60
115
50
25
32
7
11.44
PARC198
1191956
817574
333
-62
115
108
54
65
11
3.25
PARC199
1191933
817626
334
-60
115
90
59
69
10
2.54
PARC207
1191880
817567
333
-60
115
100
16
25
9
3.18
PARC213
1191077
816989
360
-60
115
54
24
29
5
5.53
Notes to Accompany Table:
• Grid coordinates are WGS84 Zone 29 North
• RC intervals are sampled every 1m by dry riffle splitting or scoop to provide a 1-3kg sample
• Diamond core are sampled every 1m by cutting the core in half to provide a 2-4kg sample
• Cut-off grade for reporting of intercepts is >1g/t Au with a maximum of 3m consecutive internal dilution included within the intercept; only intercepts >=2m and >=20 gram x metres are reported
• Samples are analysed for gold by 30g fire assay fusion with AAS instrument finish
Tabakoroni, Cashew, Paysans Table 1
CRITERIA
JORC CODE EXPLANATION
COMMENTARY
Sampling techniques
· Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling.
· Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.
· Aspects of the determination of mineralisation that are Material to the Public Report.
· In cases where 'industry standard' work has been done this would be relatively simple (e.g. 'reverse circulation drilling was used to obtain 1 m samples 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 coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information.
The samples were collected from reverse circulation (RC) and diamond core drill holes.
RC samples were collected on 1m intervals by riffle split (dry) or by scoop (wet), to obtain a 1-3kg sample which was sent to the laboratory for crushing, splitting and pulverising to provide a 30g charge for analysis.
Diamond core was sampled at 1m intervals and cut in half, to provide a 2-4kg sample, which was sent to the laboratory for crushing, splitting and pulverising to provide a 30g charge for analysis.
Sampling and sample preparation protocols are industry standard and are deemed appropriate by the Competent Person.
Drilling techniques
· Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc.).
Drill types used include diamond core of PQ and HQ sizes and RC.
Core is oriented at 3m down hole intervals using a Reflex Act II RD Orientation Tool.
Drill sample recovery
· Method of recording and assessing core and chip sample recoveries and results assessed.
· Measures taken to maximise sample recovery and ensure representative nature of the samples.
· 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.
Drill core interval recoveries are measured from core block to core block using a tape measure.
Appropriate measures are taken to maximise sample recovery and ensure the representative nature of the samples.
No apparent relationship is noted between sample recovery and grade.
Logging
· Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.
· Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography.
· The total length and percentage of the relevant intersections logged.
Drill holes were geologically logged by geologists for colour, grainsize, lithology, minerals, alteration and weathering on geologically-domained intervals.
Geotechnical and structure orientation data was measured and logged for all diamond core intervals.
Diamond core was photographed (wet and dry).
Holes were logged in their entirety (100%) and this logging was considered reliable and appropriate.
Sub-sampling techniques and sample preparation
· If core, whether cut or sawn and whether quarter, half or all core taken.
· If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry.
· For all sample types, the nature, quality and appropriateness of the sample preparation technique.
· Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.
· Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling.
· Whether sample sizes are appropriate to the grain size of the material being sampled.
Diamond core was sampled at 1m intervals and cut in half to obtain a 2-4kg sample.
Reverse circulation samples were collected on 1m intervals by riffle split (dry) or by scoop (wet) to obtain a 1-3kg sample.
Sample preparation for diamond core and RC samples includes oven drying, crushing to 10mm, splitting and pulverising to 85% passing -75µm. These preparation techniques are deemed to be appropriate to the material being sampled.
Drill core coarse duplicates were split by the laboratory after crushing at a rate of 1:20 samples. Reverse circulation field duplicates were collected by the company at a rate of 1:20 samples.
Sampling, sample preparation and quality control protocols are of industry standard and all attempts were made to ensure an unbiased representative sample was collected. The methods applied in this process were deemed appropriate by the Competent Person.
Quality of assay data and laboratory tests
· The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.
· For geophysical tools, spectrometers, handheld XRF instruments, etc., the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.
· Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.
All samples were dispatched to ALS Bamako for gold analysis by 30g fire assay fusion with AAS instrument finish (method code Au-AA25). Over-range results were re-analysed and reported by 30g fire assay fusion with gravimetric finish (method code Au-GRA21). The analytical method was appropriate for the style of mineralisation.
No geophysical tools were used to determine elemental concentrations.
Quality control (QC) procedures included the use of certified standards (1:40), non-certified sand blanks (1:40), diamond core coarse duplicates (1:20) and reverse circulation field duplicates (1:20).
Laboratory quality control data, including laboratory standards, blanks, duplicates, repeats, grind size results and sample weights were also captured into the digital database.
Analysis of the QC sample assay results indicates that an acceptable level of accuracy and precision has been achieved.
Verification of sampling and assaying
· The verification of significant intersections by either independent or alternative company personnel.
· 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.
Verification of significant intersections have been completed by company personnel and the Competent Person.
No drill holes within the resource area were twinned.
Drill holes were logged into digital templates with lookup codes, validated and then compiled into a relational SQL 2012 database using DataShed data management software. The database has verification protocols which are used to validate the data entry. The drill hole database is backed up on a daily basis to the head office server.
Assay result files were reported by the laboratory in PDF and CSV format and imported into the SQL database without adjustment or modification.
Location of data points
· Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.
· Specification of the grid system used.
· Quality and adequacy of topographic control.
Collar coordinates were picked up in UTM (WGS84) by staff surveyors using an RTK DGPS with an expected accuracy of ±0.05m; elevations were height above EGM96 geoid.
Down hole surveys were collected at intervals between 5m and 30m using either a Reflex EZ-Gyro north seeking instrument or a Reflex EZ-Trac magnetic instrument in single shot or multi shot mode. A time-dependent declination was applied to the magnetic readings to determine UTM azimuth.
Coordinates and azimuths are reported in UTM WGS84 Zone 29 North.
Tabakoroni drill holes were translated to local mine grid coordinates using 1 point and rotation.
Local topographic control is via LIDAR surveys, satellite photography and drone UAV aerial survey.
Data spacing and distribution
· Data spacing for reporting of Exploration Results.
· Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.
· Whether sample compositing has been applied.
Drill hole spacing was sufficient to demonstrate geological and grade continuity appropriate for a Mineral Resource and the classifications applied under the 2012 JORC Code.
The appropriateness of the drill spacing was reviewed by the geological technical team, both on site and head office. This was also reviewed by the Competent Person.
Samples were collected on 1m intervals; no sample compositing is applied during sampling.
Orientation of data in relation to geological structure
· Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.
· If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.
Holes were drilled predominantly perpendicular to mineralised domains where possible.
No orientation-based sampling bias has been identified in the data.
Sample security
· The measures taken to ensure sample security.
Samples were collected from the drill site and stored on site. All samples were individually bagged and labelled with unique sample identifiers, then securely dispatched to the laboratories. All aspects of sampling and dispatch process were supervised and tracked by SOMIFI personnel.
Audits or reviews
· The results of any audits or reviews of sampling techniques and data.
External audits of procedures indicate protocols are within industry standards.
Section 2 Reporting of Exploration Results
CRITERIA
JORC CODE EXPLANATION
COMMENTARY
Mineral tenement and land tenure status
· Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.
· The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.
Drilling at Syama was conducted within the Malian Exploitation Concession Permit PE 93/003 which covers an area of 200.6 Km2.
Resolute Mining Limited has an 80% interest in the Syama project and the Exploitation Permit PE 93/003, on which it is based, through its Malian subsidiary, Société des Mines de Syama SA (SOMISY). The Malian Government holds a free carried 20% interest in SOMISY.
Tabakoroni drilling was completed within the Finkolo-Tabakoroni Exploitation Licence PE 13/19. Resolute Mining Limited has an 85% interest in Exploitation Permit PE 13/19, through its Malian subsidiary, Société des Mines de Finkolo SA (SOMIFI). The Malian Government holds a free carried 10% interest in SOMIFI and a free carried 5% interest is held privately.
The Permits are held in good standing. Malian mining law provides that all Mineral Resources are administered by DNGM (Direction Nationale de la Géologie et des Mines) or National Directorate of Geology and Mines under the Ministry of Mines, Energy and Hydrology.
Exploration done by other parties
· Acknowledgment and appraisal of exploration by other parties.
The Syama deposit was originally discovered by a regional geochemical survey undertaken by the Direction National de Géologie et des Mines (DNGM) with assistance from the United Nations Development Program (UNDP) in 1985. There had also been a long history of artisanal activities on the hill where an outcropping chert horizon originally marked the present day position of the open pit.
BHP during 1987-1996 sampled pits, trenches, auger, RC and diamond drill holes across Syama prospects. Randgold Resources Ltd during 1996-2000 sampled pits, trenches, auger, RAB, RC and diamond drill holes across Syama prospects.
Etruscan Resources Inc explored Tabakoroni during 2002-2003 by auger, aircore, RC and diamond drill hole tails. The Tabakoroni area was previously explored Barrick Gold (1990) by auger, pits, trenches, RAB and diamond core drilling.
Geology
· Deposit type, geological setting and style of mineralisation.
The Syama Project is found on the northern margin of the Achaean-Proterozoic Leo Shield which forms the southern half of the West African Craton. The project area straddles the boundary between the Kadiana-Madinani terrane and the Kadiolo terrane. The Kadiana-Madinani terrane is dominated by greywackes and a narrow belt of interbedded basalt and argillite. The Kadiolo terrane comprises polymictic conglomerate and sandstone that were sourced from the Kadiana-Madinani terrane and deposited in a late- to syntectonic basin.
Prospects are centred on the NNE striking, west dipping, Syama-Bananso Fault Zone and Birimian volcano-sedimentary units of the Syama Formation. The major commodity being sought is gold.
The Tabakoroni deposit is hosted in upright tightly folded greenstone rocks of the Syama Formation, comprising interbedded basalt and sediment units, and an overlying complex sequence of deep marine and turbiditic sediments. The sequence overlying the basalts contains interbedded carbonaceous units (silts and shales) that are preferentially deformed, and which form the Tabakoroni Main Shear Zone (TMSZ) that lies along the approximate contact of the greenstone-sediment sequence. Gold mineralisation occurs within the TMSZ associated with quartz vein stockworks and stylolitic quartz reefs.
Drill hole 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 Whole 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.
All information, including easting, northing, elevation, dip, azimuth, coordinate system, drill hole length, intercept length and depth are measured and recorded in UTM Zone 29 WGS84.
The Syama belt is mostly located on the Tengrela 1/200,000 topo sheet (Sheet NC 29-XVIII).
The Tabakoroni local grid has been tied to the UTM Zone 29 WGS84 co-ordinate system.
Spectrum Survey & Mapping from Australia established survey control at Tabakoroni using AusPos online processing to obtain an accurate UTM Zone 29 (WGS84) and 'above geoid' RL for the origin of the survey control points.
Accuracy of the survey measurements is considered to meet acceptable industry standards.
Drill hole information has been tabulated for this release in the intercepts table of the accompanying text.
For completeness the following information about the drill holes is provided:
· Easting, Northing and RL of the drill hole collars are measured and recorded in UTM Zone 29 (WGS84)
· Dip is the inclination of the drill hole from horizontal. A drill hole drilled at -60° is 60° from the horizontal
· Down hole length is the distance down the inclination of the hole and is measured as the distance from the horizontal to end of hole
· Intercept depth is the distance from the start of the hole down the inclination of the hole to the depth of interest or assayed interval of interest.
Data aggregation methods
· In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. 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.
Exploration results reported in this announcement are tabulated using the following parameters:
· Grid coordinates are WGS84 Zone 29 North
· Cut-off grade for reporting of intercepts is >=1g/t Au
· No top cut of individual assays prior to length weighted compositing of the reported intercept has been applied
· Maximum 3m consecutive internal dilution included within the intercept
Metal equivalent values are not used in reporting.
Relationship between mineralisation widths and intercept lengths
· These relationships are particularly important in the reporting of Exploration Results.
· If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.
· If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. 'down hole length, true width not known').
The Syama mineralisation is steeply dipping at approximately 60 degrees from the horizontal.
The majority of the Tabakoroni mineralisation is vertical. There is one domain which dips at 45o to the west.
The majority of the drill holes are planned at a general inclination of ‑60 degrees east and as close to perpendicular to the ore zone as possible.
At the angle of the drill holes and the dip of the ore zones, the reported intercepts will be slightly more than true width.
Diagrams
· 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.
Relevant maps, diagrams and tabulations are included in the body of text.
Balanced 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.
Exploration results and infill drilling results are being reported in this announcement and tabulated in the body of the text.
Other substantive exploration data
· Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples - size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.
No geophysical and geochemical data or any additional exploration information has been reported in this release, as they are not deemed relevant to the release.
Further work
· The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling).
· Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.
Further drilling is planned.
Section 3Estimationand Reporting of MineralResources
CRITERIA
JORCCODEEXPLANATION
COMMENTARY
Database
integrity
· Measures taken to ensure that data has not been corrupted by, for example, transcription or keying errors, between its initial collection and its use for Mineral Resource estimation purposes.
Resolute completed the following basic validation checks onthedatasuppliedpriortoresource estimation:
· Drill holes with overlapping sample intervals
· Sample intervals with no assay data or duplicate records
· Assay grade ranges
· Collar coordinate ranges
· Valid hole orientation data.
There are no significant issues identified with the data.
Site visits
· Comment on any site visits undertaken by the Competent Person and the outcome of those visits.
· If no site visits have been undertaken indicate why this is the case.
Cashew and Paysans
Mrs Susan Havlin, an employee of Optiro Pty Ltd and a Member of the Australasian Institute of Mining and Metallurgy is the Competent Person who has visited this site in February and October 2019.
All aspects of drilling, sampling and mining are considered by the Competent Persons to be of a high industry standard.
Geological interpretation
· Confidence in (or conversely, the uncertainty of) the geological interpretation of the mineral deposit.
· Nature of the data used and of any assumptions made.
· The effect, if any, of alternative interpretations on Mineral Resource estimation.
· The use of geology in guiding and controlling Mineral Resource estimation.
· The factors affecting continuity both of grade and geology.
Cashew and Paysans
The digital database used for the interpretation included logged intervals for the key stratigraphic zones of Cashew and Paysans. Detailed geological logs were available in hardcopy and digital and reviewed where necessary.
Wireframes used to constrain the estimation are based on drill hole intercepts and geological boundaries. All wireframes at Cashew and Paysans have been constructed to a 0.3g/t Au cut-off grade for shape consistency.
There is a moderate level of confidence for the interpretation at both Cashew and Paysans due to the relatively close-spaced drilling at surface. The mineralisation is generally quite consistent and drill intercepts clearly define the shape of the mineralised zones with limited options for large scale alternate interpretations.
Dimensions
· The extent and variability of the Mineral Resource expressed as length (along strike or otherwise), plan width, and depth below surface to the upper and lower limits of the Mineral Resource.
Cashew
The mineral resource at Cashew comprises three individual domains they all dip at about 30 degrees to the west (local grid) from surface and extend 200 metres down dip. The three domains extend for approximately 350 metres along strike and the gold mineralised zone width varies between 1.5 and 20 metres, with an average thickness of 7 metres.
Paysans
Three domains have been identified at Paysans. The three domains all dip at about 30 degrees to the west (local grid) and extend for 300 metres down dip. The mineralised zone width varies between 1.5 and 10 metres with an average thickness of 3 metres. They strike north-south (local grid) for approximately 1,700 metres. The deposit has been divided into three areas by two faults which run east-west (local grid).
Estimation and modelling techniques
· The nature and appropriateness of the estimation technique(s) applied and key assumptions, including treatment of extreme grade values, domaining, interpolation parameters and maximum distance of extrapolation from data points. If a computer assisted estimation method was chosen include a description of computer software and parameters used.
· The availability of check estimates, previous estimates and/or mine production records and whether the Mineral Resource estimate takes appropriate account of such data.
· The assumptions made regarding recovery of by- products.
· Estimation of deleterious elements or other non-grade variables of economic significance (e.g. sulphur for acid mine drainage characterization).
· In the case of block model interpolation, the block size in relation to the average sample spacing and the search employed.
· In the case of block model interpolation, the block size in relation to the average sample spacing and the search employed.
· Any assumptions behind modelling of selective mining units.
· Any assumptions about correlation between variables.
· Description of how the geological interpretation was used to control the resource estimates.
· Discussion of basis for using or not using grade cutting or capping.
· The process of validation, the checking process used, the comparison of model data to drill hole data, and use of reconciliation data if available.
Cashew and Paysans
Estimation was completed in Datamine Studio RM using an Ordinary Kriged model to estimate the gold grade. Grades were estimated into parent block of 10 mE by 20 mN (at Cashew, 25 mN at Paysans) by 5 mRL with sub- celling down to 2.5 mE by 2.5 mN by 2.5 mRL was employed for resolution of the mineralisation boundaries as defined by wireframes. The drill spacing at Cashew and Paysans is a nominal 25 by 25 metres for the exploration holes for the majority of the deposits and 50 by 50 metres around the periphery.
Drillhole sample data was flagged using domain codes generated from three-dimensional mineralisation domains. The samples were composited to 1 metre intervals.
Variogram orientations were largely controlled by the strike of the mineralisation and downhole variography. One set of variograms was generated for all the mineralisation due to similar orientation of each of the domains and sometimes lack of composites.
Kriging neighbourhood analysis was performed to optimise the block size, sample numbers and discretisation levels with the goal of minimising conditional bias in the gold grade estimates.
At Cashew mineralisation domains were treated as hard boundaries in the estimation process while oxidation surfaces were treated as soft boundaries. At Paysans the mineralisation domains were treated as hard boundaries as well as the boundary between the transitional and fresh material within each domain. The boundary between the oxide and transitional is treated as a soft boundary.
Three search passes were used, with the first search pass set to the range of the variogram for each domain. A minimum of 8 and a maximum of 30 samples were used. The search stayed the same for the second pass but was increased by a factor of 3 for the third and final pass. The minimum number of samples was reduced to 6 for the second pass and 4 for the third pass.
No deleterious elements were found in the ore.
No selective mining units have been assumed.
Top cuts were applied to reduce the variability of the data and to remove the outliers.
The estimated block model grades were visually validated against the input drillhole data and comparisons were carried out against the drillhole data and by northing and elevation slices. Global comparison between the input data and the block grades for each variable is considered acceptable (±10%).
These is no mine production, so no comparisons were carried out.
Moisture
· Whether the tonnages are estimated on a dry basis or with natural moisture, and the method of determination of the moisture content.
Cashew and Paysans
All tonnages have been estimated on a dry basis.
Cut-off parameters
· The basis of the adopted cut-off grade(s) or quality parameters applied.
Cashew and Paysans
Mineral Resources for open pit extraction have been reported at a 1g/t Au grade cut-off.
Mining factors or assumptions
· Assumptions made regarding possible mining methods, minimum mining dimensions and internal (or, if applicable, external) mining dilution. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider potential mining methods, but the assumptions made regarding mining methods and parameters when estimating Mineral Resources may not always be rigorous. Where this is the case, this should be reported with an explanation of the basis of the mining assumptions made.
Cashew and Paysans
No mining assumptions have been made at Cashew and Paysans. Mining parameters, including minimum width assumptions, will be applied during the conversion to Ore Reserves.
Metallurgical factors or assumptions
· The basis for assumptions or predictions regarding metallurgical amenability. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider potential metallurgical methods, but the assumptions regarding metallurgical treatment processes and parameters made when reporting Mineral 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.
Cashew and Paysans
No metallurgical factors or assumptions have been made during the resource estimation process as these will be addressed during the conversion to Ore Reserves.
Environmental factors or assumptions
· Assumptions made regarding possible waste and process residue disposal options. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider the potential environmental impacts of the mining and processing operation. While at this stage the determination of potential environmental impacts, particularly for a green fields project, may not always be well advanced, the status of early consideration of these potential environmental impacts should be reported. Where these aspects have not been considered this should be reported with an explanation of the environmental assumptions made.
Cashew and Paysans
It is a requirement of Decree No.03-594/P-RM of 31 December 2003 of Malian law that an Environmental and Social Impact Study (Étude d'Impact Environmental et Social - EIES) must be undertaken to update the potential environmental and social impacts of the mine's redevelopment. The EIES for the Syama Gold Mine (including Tabakoroni) was approved in November 2007 and an Environment Permit (07- 0054/MEA - SG) was issued by the Ministry of Environment and Sanitation on 22 November 2007. The Ministry of Environment conducts timely reviews of the Syama Gold Mine to ensure that company maintains compliance with the EIES guidelines.
At Syama, there are three key practices for disposal of wastes and residues namely, stacking of waste rock from open pit mining; storage of tailings from mineral processes; and "tall-stack dispersion" of sulphur dioxide from the roasting of gold bearing concentrate. All waste disposal practices are in accordance with the guidelines in the EIES.
The Environmental & Social Impact Study - "Société des Mines de Syama, Syama Gold Mine, Mali", dated 2007 indicated there was minimal potential for acid mine drainage from waste rock due to the elevated carbonate content which buffers a potential acid generation. Resolute maintains a plan for progressive rehabilitation of waste rock landforms as part of ongoing mine development and waste rock dumping.
The landform of tailings impoundments does not have a net acid generating potential. The largest volume is flotation tailings where the sulphide minerals have already been removed from the host rock. Its mineralogy includes carbonates which further buffer any acid-formation potential from sulphides that may also be present.
Cyanide levels in the leached-calcine tailings are typically less than 50 ppm in the weak acid dissociable form. Groundwater away from the tailings landform is intercepted by trenches and sump pumps.
Sulphur dioxide is generated from the roasting of gold concentrate so that gold can be extracted and refined. Tall-Stack "dispersion" of the sulphur dioxide emission is monitored continuously. Prevailing weather and dissipation of the sulphur dioxide is modelled daily to predict the need to pause the roasting process to meet the air quality criteria set out in the Environmental & Social Impact Study.
Bulk density
· Whether assumed or determined. If assumed, the basis for the assumptions. If determined, the method used, whether wet or dry, the frequency of the measurements, the nature, size and representativeness of the samples.
· The bulk density for bulk material must have been measured by methods that adequately account for void spaces (vugs, porosity, etc), moisture and differences between rock and alteration zones within the deposit.
· Discuss assumptions for bulk density estimates used in the evaluation process of the different materials.
Paysans
No bulk density measurements have been taken at Paysans.
An average SG was applied to the model by weathering type based on similar deposits at Syama:
a) Oxide 1.80 t/m3
b) Transitional 2.40 t/m3
c) Fresh 2.70 t/m3
Cashew
One hole had density measurements at Cashew. The average density was adjusted to reflect the density of this hole. The density was assigned based on weathering:
d) Oxide 1.80 t/m3
e) Transitional 2.56 t/m3
f) Fresh 2.75 t/m3
Classification
· The basis for the classification of the Mineral Resources into varying confidence categories.
· Whether appropriate account has been taken of all relevant factors (i.e. relative confidence in tonnage/grade estimations, reliability of input data, confidence in continuity of geology and metal values, quality, quantity and distribution of the data).
· Whether the result appropriately reflects the Competent Person's view of the deposit.
Cashew and Paysans
The Indicated Mineral Resource classification is based on moderate confidence in the geology and gold grade continuity with 25 m x 25 m spaced drillhole density.
The Inferred Mineral Resource classification is applied to extensions of mineralised zones on the margins of the deposit where drill spacing is more than 50 m x 50 m and the extents of mineralisation at depth.
The validation of the block model has confirmed satisfactory correlation of the input data to the estimated grades and reproduction of data trends.
The Mineral Resource estimate appropriately reflects the view of the Competent Persons.
Audits or reviews
· The results of any audits or reviews of Mineral Resource estimates.
Cashew and Paysans
There has been no external review of the Mineral Resource estimate.
Discussion of relative accuracy/ confidence
· Where appropriate a statement of the relative accuracy and confidence level in the Mineral Resource estimate using an approach or procedure deemed appropriate by the Competent Person. For example, the application of statistical or geostatistical procedures to quantify the relative accuracy of the resource within stated confidence limits, or, if such an approach is not deemed appropriate, a qualitative discussion of the factors that could affect the relative accuracy and confidence of the estimate.
· The statement should specify whether it relates to global or local estimates, and, if local, state the relevant tonnages, which should be relevant to technical and economic evaluation. Documentation should include assumptions made and the procedures used.
· These statements of relative accuracy and confidence of the estimate should be compared with production data, where available.
Cashew and Paysans
The relative accuracy of the Mineral Resource estimate is reflected in the reporting of Indicated and Inferred resource categories as defined by 2012 JORC Code guidelines.
The estimate is considered to be relevant to an annual level of reporting of tonnage and grade.
No production data available for comparison.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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