Resource Estimates

Onedin and Sandiego

The Onedin and Sandiego copper-zinc-gold-silver deposits are at an advanced stage of exploration with mineral resources defined. In addition, drilling targets have been identified at various other advanced prospects, with numerous other promising zones of surface mineralisation and geophysical anomalism worthy of further exploration and assessment. Click here for a full copy of the latest CSA Global Resource Estimate Report dated 4 April 2022. Indicated and Inferred Mineral Resources have been estimated by CSA Global for the Sandiego and Onedin deposits in conformance with the JORC Code (2012) as set out below.

2022 Onedin Mineral Resource Estimate and Metal Tonnes

Zone Classification Tonnes
(Mt)
Copper
(%)
Zinc
(%)
Gold
(g/t)
Silver
(g/t)
Lead
(%)
Cu
Dominant
Indicated 1.5 1.1 0.6 0.2 47 1.2
Inferred -
Zn
Dominant
Indicated 3.3 0.5 4.3 0.1 34 1.0
Inferred - - -
Resource Total and
Grades
4.8 0.68 3.15 0.13 38 1.07
Zone Classification Tonnes
(Mt)
Copper
(tonnes)
Zinc
(tonnes)
Gold
(oz)
Silver
(Moz)
Lead (tonnes)
Cu
Dominant
Indicated 1.5 16,500 9,000 9,600 2.27 18,000
Inferred -
Zn
Dominant
Indicated 3.3 16,500 141,900 10,600 3.61 33,000
Inferred - - -
Total Metal Tonnes   33,000 150,900 20,200 5.88 51,000

Note: (1) Reported tonnes and grade are rounded
(2) Reporting cut-off grades of 0.4% Cu and 1% Zn have been applied to the Onedin deposit


2022 Sandiego Mineral Resource Estimate and Metal Tonnes

  Classification Tonnes
(Mt)
Copper
(%)
Zinc
(%)
Gold
(g/t)
Silver
(g/t)
Lead
(%)
Cu
Dominant
Indicated 1.7 2.3 0.8 0.3 18 0.2
Inferred 0.3 1.6 3.0 0.2 5 0.0
  Sub Total 2.0 2.2 1.1 0.3 16 0.1
Zn
Dominant
Indicated 2.0 0.6 7.3 0.1 35 0.7
Inferred 0.1 0.2 6.1 0.1 10 0.1
  Sub Total 2.1 0.6 7.3 0.1 34 0.7
Resource Total and
Grades
4.1 1.38 4.28 0.2 25 0.41
  Classification Tonnes
(Mt)
Copper
(tonnes)
Zinc
(tonnes)
Gold
(oz)
Silver
(Moz)
Lead
(tonnes)
Cu
Dominant
Indicated 1.7 39,100 13,600 16,400 0.98 3,400
Inferred 0.3 4,800 9,000 1,900 0.05 0
  Sub Total 2.0 43,900 22,600 18,300 1.03 3,400
Zn
Dominant
Indicated 2.0 12,000 146,000 6,400 2.25 14,000
Inferred 0.1 200 6,100 300 0.03 100
  Sub Total 2.1 12,200 152,000 6,700 2.28 14,100
Total Metal Tonnes   56,100 174,700 25,000 3.31 17,500

Note: (1) Reported tonnes and grade are rounded
(2) Reporting cut-off grades of 0.8% Cu and 3% Zn have been applied to the Sandiego deposit

Emull

The Emull copper deposit was the subject of significant drilling several years ago by Northern Star Resources and after further drilling by AuKing during 2022, a maiden resource estimate has been published and is shown below. There is potential for this resource to be significantly increased as further drilling is planned along an anomalous zone to the north-west. Click here Globalreport for a full copy of the latest Ashmore Advisory Resource Estimate Report dated 1 December 2022. Indicated and Inferred Mineral Resources have been estimated by Ashmore Advisory for the Emull deposit in conformance with the JORC Code (2012) as set out below.


Emull Base Metals Deposit


December 2022 Mineral Resource Estimate (0.15% Cu Cut-off)

  Indicated Mineral Resource
Type

Tonnage
Mt

Cu
%
Zn
%
Pb
%
Ag
g/t
Cu
t
Zn
t
Pb
t
Ag
koz
Oxide


Transitional


Fresh
0.26 0.28 0.72 0.16 5.4 700 1,800 400 50
0.34 0.29 0.68 0.17 7.0 1,000 2,300 600 80
1.8 0.31 0.57 0.14 6.6 5,600 10,400 2,400 390
Total
 2.4 0.30 0.60 0.14 6.6 7,300 14,500 3,400 510

 

  Indicated Mineral Resource
Type

Tonnage
Mt

Cu
%
Zn
%
Pb
%
Ag
g/t
Cu
t
Zn
t
Pb
t
Ag
koz
Oxide


Transitional


Fresh
0.04 0.24 0.23 0.05 3.1 100 100 - -
0.05 0.25 0.18 0.04 3.4 100 100 - 10
9.7 0.26 0.33 0.08 4.6 25,200 32,300 7,400 1,420
Total
 9.8 0.26 0.33 0.08 4.5 25,400 32,500 7,400 1,430

 

  Indicated Mineral Resource
Type

Tonnage
Mt

Cu
%
Zn
%
Pb
%
Ag
g/t
Cu
t
Zn
t
Pb
t
Ag
koz
Oxide


Transitional


Fresh
0.29 0.28 0.66 0.14 5.2 800 1,900 400 50
0.39 0.28 0.61 0.15 6.6 1,100 2,400 600 80
11.5 0.27 0.37 0.09 4.9 30,800 42,700 9,800 1,810
Total
 12.2 0.27 0.38 0.09 4.9 32,700 47,000 10,800 1,940

Note: The Mineral Resource has been compiled under the supervision of Mr. Shaun Searle who is a director of Ashmore Advisory Pty Ltd and a Registered Member of the Australian Institute of Geoscientists. Mr. Searle has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that he has undertaken to qualify as a Competent Person as defined in the JORC Code.
All Mineral Resources figures reported in the table above represent estimates at December 2022. Mineral Resource estimates are not precise calculations, being dependent on the interpretation of limited information on the location, shape and continuity of the occurrence and on the available sampling results. The totals contained in the above table have been rounded to reflect the relative uncertainty of the estimate. Rounding may cause some computational discrepancies.
Mineral Resources are reported in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (The Joint Ore Reserves Committee Code – JORC 2012 Edition).

 

Emull Base Metals Deposit Mineral Resource Estimate