Drill results

[Bamps21]

From the Historical survey reports
These are 2 of the drills assays pending from Ggp results in September

[paddygall]

Here is where the outstanding assays are in relation to the orebody on Google Earth. The green gridlines represent 1km so they are rather large stepouts to the North especially HAD158 which is close to ZIPA001 from last year but has been given a HAD reference this year.

NOR002 is pretty much on the border with Artemis and we are waiting for results from their drilling at AP004 also.

GLA - Paddy

[Bamps21]

Drill 153W2 is a NCM pending result these plans show what it found
153 filled in the gap zone

159 extension is higher up than 153

Just to the southeast of the 153W2 find is a a little intercept, I’m expecting that to grow and link up with 153 it’s a lot deeper
Drill 90AW2

[Bamps21]

Recent images for a new pad found by Paddysat, with Strudelsat and my interpretations

[strudel]

"StrudelSpot" please....

Strudelsat is assigning expertise that is not quite appropriate with my poor eyesight and tendency to use small screen gadgets.

[Bamps21]

Drilling results in early December
This section is deceiving I didn’t have time to go through it thoroughly in my presentation at Stroud
This is line S2 which can be found on the plan above looking northwesterly.
The level on the bottom right shows 3500RL
That is a reduced level from the Australian National Bench mark level of 5,000 metres.
In the UK we have the Ordnance survey benchmark of 0 metres.
Anyway 3,500RL is just above the bottom of the ore body .
The top of the orebody is at 4850RL
A distance of 1350m depth of ore.
You can see though there is another intercept beneath this and there are others beneath this depth.
The yellow blob at the bottom has been drawn from information received from surveys such as the aero magnetic survey.
As this passes over it doesn’t pick up the bottom accurately and forms a rounded base feature as shown here.
The yellow is indicating crackle breccia, they know this from similar readings higher up, but it’s not necessarily weak grade crackle it needs to be drill tested and more than likely at these depths it will turn into cemented or actinolite breccia which is higher grades when information is obtained from the drills.
The 2 blue drill lines were awaiting assays, you can see from this they’ve been drilling to fill gaps in their information.
You can also see the Dyke on this sloping to the SE, that’s around 300m out of vertical and it will be coming up from the lower fault line.

The purple sulphides seem to finish around the 1050m depth of ore, but you have to stop and think hang on these sulphides came up not down, they just wouldn’t come from nowhere, they will continue downwards.
I believe these drills are looking for the high grade sulphides intrusion which will be more or less following that line of the Dyke and on into the fault maybe 3km down or more and much further east.

[Bamps21]

Comparing differences in the 3D images
December on the left September on the right.
Big difference is the Dyke is being shown in a more correct position for 950m depth of ore.
Other differences I’ve marked with an arrow
Notice the high grade blob to the north that’s way outside the Eastern Breccia.

[Bamps21]

Here is that high grade blob to the north.
Not much drilling around here at the moment, so expecting some more in the Spring

[Bamps21]

Looks like that Northern blob is from drill 141W2 on the bottom right
39m @ 2.8g/t from 1210m vertical depth of ore

[Bamps21]

This image from the Vimeo 3D modelling must be around 12 months out of date already.
It shows the greater than 2g/t areas shown in brown.
These are the areas targeted for SLOS mining.
Other areas have been added in since this image was produced.

[Bamps21]

This is the same image with the blue colours added or >0.5g/t
This is lower than my 0.75g/t average that I’ve worked out and based my calcs on, but could be somewhere close.
The opvm graph is based around the 0.67g/t.

[Bamps21]

This is the blue colours >0.5g/t on their own.
It shows up where the drilling needs to infill.

If you took these images down to >0.2g/t
the oval shape would be filled in .
That’s what’s needed for bulk mining.

[Bamps21]

This is where I’m expecting the overall opvm to move out to based on an average of 0.75g/t for the first 900m then moving to the right lower down with an average 1-1.5g/t
I’ve only worked on g/t not an equivalent factor, I would expect it to be further to the right with an equivalent average.

[Bamps21]

1,650m of ore depth

[Bamps21]

From those 3 graphics of the 3D we can see what volumes of ore we had as at December 2021 for >2g/t, >1g/t and >0.5g/t.
The >0.5g/t graphics shows approximately 90% of the ore body filled, so it’s approaching my average of 0.75g/t to achieve the values in my calculations.
The drill logs though have cut offs of 0.2g/t, so what do you think would happen on a graphic showing >0.2g/t.
Well it would probably be getting close to filling the orebody to 100%.
Telfer are still mining weak ore around the 0.1g/t value.
At Havieron 0.1g/t would show up as a much enlarged ore body out to the alteration boundaries shown on the latest Newcrests plans.

Economically what does this mean:-
31 grams to an ounce
$1800 ounce gold price
$1050 AISC gold cost per ounce (ex copper)
Around 1.2bn tons

0.2g/t = 155 ton per ounce =$11.62 per 0.2
Minus $6.77 cost per ounce
=$4.85 profit per 0.2 over 1.2bn tons.
PS
( I’ve kept the tonnage lower than I believe it to be to cater for 6% depletion and 88% recovery factor.)
(I’ve excluded copper from this)

Therefore an average of >0.2g/t
Has a profit of >$4.85 per ton for 1.2 bn tons + the copper credits
Of which 30% is Ggp >$1.455 per ton profit

I’m still saying an average 0.75g/t is achievable .

[Bamps21]

Drill results expected for April 27th

[Bamps21]

From Mar 2023 results
161 and 98W8 have no significant results so I’ve marked on the graphics where they are, deep under the Northern end.
They are marked down as collars only.

The lowest cut offs are 0.2g/t so results that do not meet this criteria are not shown.

Red intercepts are 0.5g/t or above

[jecsggp]

Nice drill results this morning, adding to confidence in the SE crescent for both Au and CU.