IRW-News: Birimian Ltd.: Birimian Ltd: Erste Ressourcenschätzung auf Goulamina bestätigt und hochgradige Lithiumlagerstätte mit beträchtlicher Tonnage

IRW-PRESS: Birimian Ltd.: Birimian Ltd: Erste Ressourcenschätzung auf Goulamina bestätigt und hochgradige Lithiumlagerstätte mit beträchtlicher Tonnage

Erste Ressourcenschätzung auf Goulamina bestätigt und hochgradige Lithiumlagerstätte mit beträchtlicher Tonnage

- Erste Ressourcenschätzung auf Goulamina;

-

--15,5 Mio. Tonnen mit 1,48 % Li2O (229.000 t enthaltenes Li2O)

- Beachtliche hochgradige Komponente nahe der Oberfläche bietet Möglichkeit für verbesserten frühzeitigen Cashflow.

- Ausgezeichnetes Potenzial um signifikante Tonnagen an in geringer Tiefe lagernder hochgradiger Lithiumvererzung durch weitere Bohrungen hinzuzufügen.

- Projektbewertungsstudien zur Festlegung erster Daten in Verbindung mit Abbau, Aufbereitung und Investitionskosten sind im Laufen.

- Bohrarbeiten werden in Kürze wieder aufgenommen und konzentrieren sich auf Ressourcenerweiterung und Hochstufung der Ressourcenkategorien.

Birimian Limited (ASX: BGS) (Birimian oder das Unternehmen - http://www.commodity-tv.net/c/mid,1323,Interviews/?v=296968) berichtet die erste JORC konforme Mineralressourcenschätzung für die Lagerstätte Goulamina auf ihrem Lithiumprojekt Bougouni in Mali.

Die auf Goulamina geschätzte Mineralressource umfasst 15,5 Mio. Tonnen mit 1,48 % Li2O für 229.000 Tonnen enthaltenes Li2O (Tabelle 1). Dies stellt die Lagerstätte unter die heute weltweit höchst gradigsten Lithiumlagerstätten von signifikanter Größe in Festgestein.

Birimians Managing Director Kevin Joyce äußerte sich zu diesem Meilenstein: Wir sind sehr zufrieden, die höchst gradigste Lithiumressource zu 100 % zu besitzen, die heute im Besitz einer an der ASX zugelassenen Gesellschaft ist.

Diese erste Ressourcenschätzung ist ein herausragendes Ergebnis, besonders wenn man bedenkt, dass die ersten Bohrungen vor weniger als sechs Monaten niedergebracht wurden. Dies gibt uns eine solide Plattform, eine Scoping-Studie zur Abgrenzung der Schlüsselparameter zu avancieren, welche die Projektmachbarkeitsstudie und erste Erzvorratsschätzung unterstützen wird.

Von Interesse ist, dass noch ein beachtliches Potenzial zur substanziellen Erweiterung dieser ersten Ressource und Verbesserung der modellierten Gehalte durch weitere Bohrungen vorhanden ist, besonders in der vor Kurzem entdeckten West Zone. Dort ist die mächtige und hochgradige Vererzung nahe der Oberfläche im Streichen und zur Tiefe hin offen. Der Gehalt der Ressource von 1,67 % Li2O in der West Zone ist sehr ermutigend und wir sind darauf aus, mit der nächsten Phase des Bohrprogramms zu beginnen, was Ende November erfolgen wird.

Birimian hat einen soliden Barmittelbestand mit ausreichend Kapital zur Finanzierung von Entwicklungsaktivitäten während der nächsten Bohrrunde und Scoping-Studie. Wir hoffen, dass die Scoping-Studie bis Jahresende abgeschlossen ist.

Mineralressourcenschätzung

Cube Consulting (Cube) wurde zur Durchführung einer Mineralressourcenschätzung für die Lagerstätte Goulamina beauftragt. CSA Global lieferte den Beitrag für eine anfängliche Bergbaustudie zur Unterstützung von Cubes Arbeiten. Detaillierte Informationen hinsichtlich der Daten, Qualitätskontrolle und Schätzungsmethodik sind in Anhang 1 - JORC Tabelle1, Abschnitte 1 bis 3 dokumentiert.

Die Ressourcen wurden gemäß Tabelle 1 in den Vertrauenskategorien angezeigt und geschlussfolgert geschätzt. 40 % der Mineralressource befinden sich bereits in der Kategorie angezeigt.

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Tabelle 1. Klassifizierungen der Mineralresource Goulamina

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Abbildung 1. Goulamina Blockmodel Schrägansicht Richtung Norden

Birimian lieferte die Hauptinformationsquellen, die im Rahmen dieser Mineralressourcenschätzung verwendet wurden einschließlich Bohrungsdatensammlungen, eine topografische Oberfläche, Kartierungsinformationen und eine geologische Interpretation der vererzten Pegnatite. Insgesamt 50 Bohrungen mit einer Gesamtlänge von 5.179 m lagen dem Ressourcenmodell zugrunde.

Die Mineralressourcen wurden durch Rückspülbohrungen (Reverse Circulation, RC) und Kernbohrungen (Diamond Drilling, DD) abgegrenzt. Der Großteil der Bohrungen wurde in der Hauptpegmatitzone in Abständen von 50 m x 50 m und 50 m x 25 m niedergebracht. Diese Abstände sind zur Bestimmung der Kontinuität der Geologie und des Gehalts zur Ausweisung von Mineralressourcen angemessen.

Der Spodumen (Lithium) -Pegmatit auf Goulamina kommt als zwei gut definierte im Allgemeinen parallele und sehr kontinuierliche Dykes (Intrusionsgänge) vor; die Main Zone und West Zone (Abbildung 1, 2 und 3). Querschneidende vererzte Dykes, die in Aufschlüssen und in den Bohrungen identifiziert wurden, sind nicht so gut begrenzt und wurden zu diesem Zeitpunkt nicht in die klassifizierten Ressourcen eingeschlossen.

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Abbildung 2. Lagerstätte Goulamina. Draufsicht Lithiumpegmatite mit Lage der Bohrungen und berichteten Bohrabschnitten.

Vererzte Domänen für getrennte Pegmatit-Dykes wurden in Profilschnitten digitalisiert und dann als Drahtgitter dargestellt, um Festkörper zu generieren. Es besteht ein sehr starker Zusammenhang zwischen dem vererzten Teil der Pegmatit-Dykes und dem gesamten vererzten Dyke-Abschnitt. Nur sehr wenig Pegmatitmaterial hat keine signifikant erhöhten Lithiumgehalte. Folglich stimmen die Grenzen der Vererzung im Allgemeinen mit den lithologischen Grenzen der Dykes überein. Drahtgitter wurden zur Bestückung des Blockmodells und durch herkömmliches Kriging-Verfahren interpolierte Li2O-Gehalte verwendet.

Der größte Teil des Ressourcengebietes des Main Zone Pegmatites wurde als angezeigte Ressource klassifiziert, wo spezifische Datenabstände und Suchkriterien erfüllt wurden, im Allgemeinen innerhalb von 100 m der Oberfläche. Die tiefere Vererzung in dieser Zone, so wie im West Zone Pegmatit, wurde als geschlussfolgerte Ressource klassifiziert aufgrund der größeren Abstände zwischen den Bohrungen und geringerem Vertrauen in die Interpretation der Vererzung.

Es wurde angenommen, dass die Ressource im Tagebauverfahren abgebaut wird, das von den konzeptionellen Bergbaustudien unterstützt wird. Die früheren metallurgischen Studien bieten eine ausreichende Basis für die Annahme hinsichtlich der metallurgischen Zugänglichkeit und der Bestimmung angemessener Perspektiven für eine eventuelle wirtschaftliche Extraktion.

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Abbildung 3. Profilschnitte Lagerstätte Goulamina.

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Figure 4. Goulamina Location and Infrastructure.

Goulamina - eine hochgradige Lithiumlagerstätte mit beträchtlichen Tonnagen

Die erste Ressourcenschätzung auf Goulamina bestätigt eine hochgradige Lithiumlagerstätte mit beträchtlichen Tonnagen. Das Projekt liegt in unmittelbarer Nähe einer asphaltierten Schnellstraße, eines Stromnetzes und eines Wasseranschlusses - das Wasserkraftwerk Selingue liegt nur etwa 45 Kilometer weiter nordwestlich (Abbildung 4).

Goulamina ist eine hochgradige Lithiumlagerstätte mit geringen Eisengehalten. Die Gehalt-Tonnage-Kurve ist in Abbildung 5 zu sehen. Signifikante Beobachtungen schließen ein:

-- Die Gesamtressource wird für einen Cut-off-Gehalt von 0% Li2O angegeben. Bei höheren Cut-off-Gehalten variieren die Tonnagen der Vererzung nicht beträchtlich, was den robusten Gehalt und die gute Kontinuität der modellierten Vererzung bestätigt.

-- Beachtliche Tonnagen der hochgradigen (>1,5 % Li2O) Vererzung wurden innerhalb der Ressource modelliert. Ein signifikanter Teil von sehr hochgradigem Material steht in Aufschlüssen und nahe der Oberfläche (siehe Abbildung 1) an, was eine potenzielle Möglichkeit für den Abbau hochgradigen Erzes in einer frühen Phase der Lebensdauer des Projekts bietet. Dies würde eine schnelle Rückzahlung und verbesserten Cashflow bei einer geeigneten Ausrichtung der Projektentwicklung ermöglichen.

Die Lagerstätte weist erheblichen Spielraum für die Erweiterung zu einem hochgradigen Lithiumprojekt mit beträchtlichen Tonnagen auf, womit frühere Erwartungen sogar noch übertroffen wurden. Die Vererzung ist in beiden Zonen weiterhin offen und im 250 Quadratkilometer großen Projektgebiet besteht hervorragendes ungenutztes Potenzial. Birimian ist weiterhin zuversichtlich, dass es den Lithiumbestand auf Goulamina durch weitere Bohrprogramme kontinuierlich steigern wird und damit die globale Bedeutung der Lagerstätte bestätigt.

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Abbildung 5. Goulamina Gehalt-Tonnage-Kurve.

Zukünftige Planung - Bohrungen

Die Vererzung ist im Streichen und zur Tiefe außerhalb der gegenwärtigen Grenzen der Bohrprogramme offen. Die letzten veröffentlichten Bohrergebnisse aus der West Zone (10. Oktober 2016) lieferten die bis dato auf Goulamina mächtigsten und höchst gradigsten Abschnitte einschließlich 82 m mit 1,64 % Li2O aus 18 m Tiefe und 51 m mit 1,93 % Li2O aus 127 m Tiefe (mit 22 m mit 2,23 % Li2O).

Diese sehr signifikanten Abschnitte nahe der Oberfläche sind in Streichrichtung offen, was in diesem Gebiet ein ausgezeichnetes Potenzial zur Hinzufügung beachtlicher Tonnagen von hochgradigem Material durch Bohrungen andeutet. Vorläufige Bergbaustudien haben ebenfalls einen guten Spielraum zur Erweiterung der Ressourcen unter die aktuelle Basis des Ressourcenmodells auf den Zonen Main und West gezeigt.

Weitere Bohrungen werden die Erweiterung der Vererzung während des Infill- und Step-out-Bohrprogramms der nächsten Phase erkunden. Die Planungen für dieses Programm sind im Laufen. Laut Erwartungen werden Bohrungen mit einer Gesamtlänge von ungefähr 10.000 m zur Erweiterung und Hochstufung der Ressourcenklassifikation und zur Erleichterung einer möglichen Erzvorratsschätzung niedergebracht werden.

Scoping-Studie und Genehmigungsverfahren

Parallel zu den Bohrungen avanciert Birimian rasch eine Scoping-Studie, um Eingaben in die Projektmachbarkeitsstudie zu definieren.

Como Engineers (Como) wurde damit beauftragt, die grundlegenden Verarbeitungsparameter festzulegen und die Investitionskosten zu schätzen, die für die Definierung weiterer detaillierter Arbeiten beim Projekt Bougouni verwendet werden. Como kann eine umfassende Erfahrung bei der Prozessplanung und technischen Aspekten von Spodumenkonzentrationsanlagen vorweisen, einschließlich der kürzlich durchgeführten endgültigen Machbarkeitsstudie für das Lithiumprojekt Pilgangoora von Pilbara Minerals.

Frühere Testarbeiten haben die Brauchbarkeit des Pegmatits auf Goulamina für die Produktion eines sehr reinen Lithiumkonzentrats von hoher Qualität bestätigt. Como wird diese Studie als Basis für ihre vorläufige Bewertung verwenden. Die Testergebnisse zeigen gute Spodumen (Lithium) -Ausbringung (84,7 %) und einen hohen Masseertrag zur Produktion eines hochwertigen sehr reinen (6,7 %) Spodumenkonzentrats. Als Hinweis, Konzentratgehalte von 6 % werden normalerweise von den globalen Lithiumkarbonatherstellern verlangt.

Digby Wells Environmental (Digby Wells) hat vor Kurzem die Feldarbeiten für die ersten sozialen und umweltbezogenen Bewertungen für die Gebiete im Umfeld der potenziellen Mine und des potenziellen Verarbeitungsstandortes bei Goulamina abgeschlossen. Im Rahmen dieser vorläufigen Studie werden wichtige umweltbezogene und soziale Aspekte identifiziert, wodurch es Digby Wells möglich sein wird, die Terms of Reference for the Environmental and Social Impact Assessment (ESIA) zu erstellen, die verwendet werden, um einen entsprechenden Plan hinsichtlich der Durchführung der erforderlichen Basisstudien und der Einreichung der formellen Projekt-ESIA für die Genehmigung der Mine zu formulieren.

Für weitere Informationen kontaktieren Sie bitte:

Kevin Joyce

Managing Director

08 9286 3045

info@birimiangold.com

In Europa:

Swiss Resource Capital AG

Jochen Staiger

info@resource-capital.ch

www.resource.capital.ch

Erklärung der qualifizierten Personen

Die Informationen in dieser Meldung, die sich auf Explorationsergebnisse und das Explorationsziel beziehen, basieren auf Informationen, die von oder unter der Leitung von Kevin Anthony Joyce erstellt wurden. Herr Joyce ist Managing Director von Birimian Limited und ein Mitglied des Australian Institute of Geoscientists. Herr Joyce verfügt über ausreichende Erfahrung, die für diese Art von Vererzung und Lagerstätte sowie für seine Tätigkeiten erforderlich ist, um als qualifizierte Person gemäß der Ausgabe von 2012 des Australasian Code for Reporting of Exploration Results definiert werden zu können. Herr Joyce erlaubt das Hinzufügen von Material zu diesem Bericht, das auf seinen Informationen basiert und in Form und Kontext erscheint.

Die Informationen in dieser Meldung, die sich auf Mineralressourcen beziehen, basieren auf Informationen, die von oder unter der Leitung von Matt Bampton erstellt wurden. Herr Bampton ist ein Mitglied des Australian Institute of Mining and Metallurgy und ein Mitglied des Australian Institute of Geoscientists. Herr Bampton ist ein Vollzeitbeschäftigter von Cube Consulting Pty Ltd. und verfügt über ausreichende Erfahrung, die für diese Art von Vererzung und Lagerstätte sowie für seine Tätigkeiten erforderlich ist, um als qualifizierte Person gemäß der Ausgabe von 2012 des Australasian Code for Reporting of Exploration Results definiert werden zu können. Herr Bampton erlaubt das Hinzufügen von Material zu diesem Bericht, das auf seinen Informationen basiert und in Form und Kontext erscheint.

Zuvor gemeldete Ergebnisse

Diese Meldung enthält Informationen hinsichtlich früherer Explorationsergebnisse beim Projekt Bougouni. Das Unternehmen bestätigt, dass keine anderen neuen Informationen oder Daten vorliegen, die sich erheblich auf die in der ursprünglichen Marktmitteilung enthaltenen Informationen auswirken könnten, und dass sich alle grundlegenden Annahmen und technischen Parameter nicht grundlegend geändert haben. Das Unternehmen bestätigt, dass die Form und der Kontext der enthaltenen Darbringung der Ergebnisse der Competent Person im Vergleich zur Marktmitteilung nicht grundlegend geändert wurden.

Zukunftsgerichtete Aussagen

Aussagen hinsichtlich Pläne in Zusammenhang mit den Mineralkonzessionsgebieten des Unternehmens sind zukunftsgerichtete Aussagen. Es kann keine Garantie abgegeben werden, dass die Pläne des Unternehmens hinsichtlich der Erschließung seiner Mineralkonzessionsgebiete wie erwartet umgesetzt werden können. Es kann keine Garantie abgegeben werden, dass das Unternehmen in der Lage sein wird, das Vorkommen von Minerallagerstätten zu bestätigen, dass sich eine Mineralisierung als wirtschaftlich herausstellen wird oder dass eine Mine in einem der Mineralkonzessionsgebiete des Unternehmens erschlossen werden kann.

Die Ausgangssprache (in der Regel Englisch), in der der Originaltext veröffentlicht wird, ist die offizielle, autorisierte und rechtsgültige Version. Diese Übersetzung wird zur besseren Verständigung mitgeliefert. Die deutschsprachige Fassung kann gekürzt oder zusammengefasst sein. Es wird keine Verantwortung oder Haftung: für den Inhalt, für die Richtigkeit, der Angemessenheit oder der Genauigkeit dieser Übersetzung übernommen. Aus Sicht des Übersetzers stellt die Meldung keine Kauf- oder Verkaufsempfehlung dar! Bitte beachten Sie die englische Originalmeldung auf www.sedar.com, www.sec.gov, www.asx.com.au/ oder auf der Firmenwebsite!

ASX Additional Information - Material Assumptions

The following is a summary of Material Information used to estimate the Mineral Resource as required by Listing Rule 5.8.1 and JORC 2012 Reporting Guidelines.

Mineral Tenement and Land Tenure Status

The deposit lies within the Torakoro Authorisation to Explore which is owned 100% by Timbuktu Ressources, a wholly owned Malian subsidiary of Birimian Limited. The license area is currently being upgraded to a Research Permit, which was approved for issue by interministerial commission from the Mali Ministry of Mines on 19 July 2016. The mineral property is in good standing and there is no known impediment to obtaining a license to operate.

Geology

The project area is located within the Bougouni region of the southern Mali, where broadly north-south trending belts of Birimian-aged (Paleoproterozoic) metavolcanic and metasedimentary rocks are intruded by syn-and post-orogenic granitoids.

Within the Project area, outcrop is limited and basement geology is therefore poorly understood. Regolith typically comprises a surficial transported gravel horizon (locally termed Cuirasse) overlying a thin lateritic weathering profile. Mapping indicates NE-striking metapelite and metagreywacke rocks in the north and eastern parts of the property. The southern portion of the project area is dominated by granodiorite.

All pegmatite bodies contain anomalous or significant amounts of the mineral spodumene (a lithium-bearing pyroxene), along with the other major minerals of quartz feldspar (albite and microcline); From the geological logging, there are also accessory amounts of muscovite, tourmaline, apatite, and biotite at the granite contacts. Semi-quantitative mineralogical analysis by X-ray diffraction also indicated trace amounts of zinnwaldite (a lithium-bearing mica) and chlorite.

Drilling Techniques and Hole Spacing

All holes were drilled as part of a continuous drilling campaign from May to September 2016. In total 50 holes for 5,179m of drilling were completed.

RC drilling was completed by a purpose-built rig supplied and operated by Foraco Drilling, using nominally 5.5 diameter equipment, with a face sampling downhole hammer. The rig has an outboard compressor, with specifications of 1100CFM@350PSI.

Core drilling was completed using a purpose-built rig supplied and operated by Foraco Drilling. All holes are standard HQ sized holes (core diameter 64mm). DD holes are a combination of some drilled from surface (lengths varied between 21m and 110m), and some as diamond tails on RC holes (lengths varied between 100m and 195m).

Sampling

All samples collected from the RC rig for this drilling program were collected at 1m downhole intervals. Samples were split into pre-numbered calico bags at the rig using a 3-stage vibratory riffle splitter yielding a sample of between 3 to 5 kilograms. In addition to the 1m sample, duplicate samples were taken every 20m downhole. Blanks and standards were inserted into the sample string at a rate of 1:40 for Blanks, and 1:40 for Standards.

A sampling ledger documented data, including hole number, date drilled, sample id, depths from and to, sample condition, sample type, percentage sample return and all certified standards blanks and duplicates.

Drill core was sawn in half along its long axis. One half of the drill core was taken for geochemical analysis. All samples were collected at 1m intervals down the hole. 100% core recoveries were typically achieved.

Sample Analysis

Sample preparation work was conducted in the ALS Laboratory in Ouagadougou, Burkina Faso. At the laboratory, samples were weighed, dried and crushed to -2mm in a jaw crusher. A 1.0kg split of the crushed sample was subsequently pulverised in a ring mill to achieve a nominal pulp particle size of 85% passing 75m. Sample sizes and laboratory preparation techniques are considered to be appropriate.

After pulverisation, sub-samples were sent to ALS Laboratory in Perth for assay. Analysis for lithium and a suite of other elements is undertaken by ICP-AES, after a sodium peroxide (Na2O2) fusion - ALS Method ME-ICP89. Some of the multi-element analysis uses a MS finish - ALS Method ME-MS91. This fusion technique is considered to be a total dissolution technique for lithium-bearing silicate minerals. Detection limits for lithium are 0.01-10%.

Estimation Methodology

Interpreted sections were wireframed using Surpac to create 3D solids for each pegmatite domain within the resource area. The drillhole data was sliced on 50m spaced sections for modelling of the geology and the mineralised envelopes. Solids were constructed for 4 discreet pegmatite dykes, as well as for the near surface colluvium and lateritic material.

Mineralisation in the Main Zone and West Zone pegmatites was composited to 3m downhole intervals to reduce the variability inherent in raw samples or a smaller composite length relative to estimation resource model block dimensions.

Surpac software was used for the modelling and estimation, with SuperVisor software used to conduct geostatistical analysis. The main pegmatite domains in the block model were estimated using interpolation of grade via Ordinary Kriging (OK), which was considered to be an acceptable method given the strong geological control, the drilling density and the data distribution downhole.

A single block model was created by Cube with dimensions extended out to fully cover all of the mineralisation, plus surrounds that may be contained within pit optimisation shells. The parent block size used is 20mN x 20mE x 5mRL and sub-blocked to 1.25mN x 2.5mE x 2.5mRL.

Resource Classification

A range of criteria were considered by Cube when addressing the suitability of the classification boundaries. These criteria include:

-- Geological continuity and volume;

-- Drill spacing and drill data quality;

-- Modelling technique; and

-

- Estimation properties including search strategy, number of informing composites, average distance of composites from blocks and kriging quality parameters.

Blocks have been classified as Indicated or Inferred, mostly based on drill data spacing in combination with kriging parameters.

Cut-off Grade

For the global resource estimation, no lower cutoff grade for reporting is used, as the model is essentially developed within a geological boundary, and the resource incorporates everything within the modelled pegmatite dykes.

Mining and Metallurgy

Conceptual mining studies are based on open cut mining methods using a contract mining fleet and conventional drill and blast mining methods. Limited inspection of core photography indicates that ground conditions are suitable for this mining method.

The resource has been trimmed by intersecting with a pit shell based on a Whittle optimisation at a revenue factor (USD650/t for a nominal 6% Li2O concentrate). Material falling outside of this shell is considered to not meet reasonable prospects for eventual economic extraction.

The criteria for assumptions and predictions regarding metallurgical amenability - required to determine reasonable prospects for eventual economic extraction - are based on the bulk sampling and test program undertaken in 2008 by CSA Global (UK), work that was commissioned and funded by the World Bank as part of the SYSMIN economic development program. CSA Global undertook systematic sampling of outcropping material at Goulamina to collect a representative bulk sample comprising 3,150kg of material, which was subsequently crushed and split to 750kg for detailed processing test work. This work included evaluations of screen sizing to optimize spodumene (lithium) recoveries and preliminary dense media separation tests. The results of this study indicated good spodumene recoveries (~84.7%) and a high mass yield, to produce a high quality chemical grade spodumene concentrate (~6.7% Li2O).

Table 2. Reverse Circulation and diamond drill holes at the Bougouni Project, Mali.

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JORC Code, 2012 Edition - Table 1

Section 1 - Sampling Techniques and Data

CriteriJORC Code explanation Commentary

a

Samplin· Nature and quality of · Diamond Drill Core (DD)

g sampling and Reverse Circulation

techni ( (RC) chips are the two

ques eg cut channels, random main sample

chips, or specific types.

specialised industry

standard measurement · RC drill holes were

tools appropriate to routinely sampled at 1m

the minerals under intervals down the hole,

investigation, such as with samples collected

down at the drill rig by

riffle splitting drill

hole gamma sondes, or spoils to collect a

handheld XRF nominal 2.5 - 4kg sub

instruments, sample, with an

additional 50% split for

etc). These examples material > 5

should not be taken as kg.

limiting the broad

meaning of · Routine standard

sampling. reference material,

sample blanks, and

· Include reference to sample duplicates were

measures taken to inserted or collected at

ensure sample every 10th sample in the

sample sequence for RC

representivity and the drill

appropriate calibration holes.

of any measurement

tools or systems · Nominal 2.5kg sub

used. samples were collected

from half sawn HQ sized

· Aspects of the diamond drill core,

determination of routinely sampled at 1m

mineralisation that are intervals down the

Material to the Public hole.

Report.

· Routine standard

· In cases where reference material and

industry standard sample blanks were

work has been done this inserted/collected at

would be relatively every 20th sample in the

simple sample sequence for DD

( drill

eg reverse circulation holes.

drilling was used to

obtain 1 m samples from · All samples were

which 3 kg was submitted to ALS Bamako

pulverised to produce a and subsequently

30 g charge for fire forwarded to ALS

assay). In other cases Ouagadougou for

more explanation may be preparation. Analysis

required, such as where was undertaken at ALS

there is coarse gold Perth by method

that has inherent ME-ICP89

sampling problems.

Unusual commodities or

mineralisation types

(

eg submarine nodules)

may warrant disclosure

of detailed

information.

Drillin· Drill type (eg core, · Drillholes were

g reverse circulation, generally angled at -60°

techni open-hole hammer, towards 270° (WGS84_29N

ques rotary air blast, grid)

auger, Bangka, sonic,

· RC drilling equipment

etc) and details (eg core is nominally 5.5

diameter, triple or diameter, with a face

standard tube, depth of sampling down

diamond tails,

face-sampling bit or hole hammer.

other type, whether · RC drilling used a

core is oriented and if purpose-built RC Rig

so, by what method, (

Foraco Drilling) with an

etc). outboard compressor,

with specifications of

1100CFM@350PSI

· DD holes are standard

tube HQ sized holes

(core diameter

64mm)

· DD holes were drilled

using a purpose built

drill rig supplied and

operated by

Foraco Drilling.

· DD holes are a

combination of some

drilled from surface

(lengths varied between

21m and 110m), and some

as diamond tails on RC

holes (lengths varied

between 100m and

195m).

· Core Orientations were

performed with a Reflex

ACT II RD rapid descent

core orientation

tool

Drill · Method of recording · A qualitative estimate

sample and assessing core and of sample recovery was

recove chip sample recoveries done for each sample

ry and results metre collected from the

assessed. drill rig for RC

holes.

· Measures taken to

maximise sample · Riffle split samples

recovery and ensure were weighed to ensure

representative nature consistency of sample

of the size and to monitor

samples. sample

recoveries.

· Whether a relationship

exists between sample · A quantitative measure

recovery and grade and of sample recovery was

whether sample bias may done for each run of

have occurred due to drill core for DD

preferential loss/gain holes.

of fine/coarse

material. · Drill sample recovery

in the DD holes

approximates 100% in

mineralised

zones.

· Overall, drill sample

recovery and quality is

considered to be

adequate for the RC

drilling, and is

considered to be

excellent for the DD

holes.

· There is the

possibility of some

low-level contamination

from the drill bits and

rods on subsequent iron

assays.

Logging· Whether core and chip · All drill sample

samples have been intervals were

geologically and geologically logged by

Company

geotechnically logged to Geologists.

a level of detail to

support appropriate · Where appropriate,

Mineral Resource geological logging

estimation, mining recorded the abundance

studies and of specific minerals,

metallurgical rock types and

studies. weathering using a

standardized logging

· Whether logging is system.

qualitative or

quantitative in nature. · For RC holes, a small

Core (or sample of washed drill

material was retained in

costean, channel, etc) chip trays for future

photography. reference and validation

of geological logging,

· The total length and and an additional 100g

percentage of the of drill material was

relevant intersections retained in plastic bags

logged. for the same

purpose.

· For DD holes, all core

was photo-graphed both

Wet and

Dry.

· For most holes, the

entire drill hole was

logged and sampled.

Barren granite away from

the pegmatite dykes was

not routinely

sampled.

Sub-sam· If core, whether cut · RC 1m samples were

pling or sawn and whether riffle split at the

techni quarter, half or all drill rig, and routine

ques core field sample duplicates

and taken. were taken to evaluate

sample whether samples were

prepar· If non-core, whether representative.

ation riffled, tube sampled,

rotary split, · Drill core was sawn in

half along its long

etc and whether sampled axis. One half of the

wet or drill core was taken

dry. for

geochemical analysis.

· For all sample types, All samples were

the nature, quality and collected at 1m

appropriateness of the intervals down the

sample preparation hole.

technique.

· Sample preparation was

· Quality control undertaken by ALS

procedures adopted for Ouagadougou

all sub-sampling stages laboratory.

to maximise

· At the laboratory,

representivity of samples were weighed,

samples. dried and crushed to

-2mm in a jaw crusher. A

· Measures taken to 1.0kg split of the

ensure that the crushed sample was

sampling is pulverised in a steel

representative of the ring mill to achieve a

in situ material nominal particle size of

collected, including 85% passing

for instance results 75m.

for field

duplicate/second-half · Sample sizes and

sampling. laboratory preparation

techniques are

· Whether sample sizes considered to be

are appropriate to the appropriate for lithium,

grain size of the but may have introduced

material being a small level of

sampled. contamination for iron

from the sample

preparation

equipment.

Quality· The nature, quality · Analysis for lithium

of and appropriateness of and a suite of other

assay the assaying and elements was undertaken

data laboratory procedures at ALS Perth by ICPAES

and used and whether the after Sodium Peroxide

labora technique is considered Fusion. Detection limits

tory partial or for lithium (0.01

tests total. -10%)

· For geophysical tools, · Sodium Peroxide fusion

spectrometers, handheld is considered a total

XRF instruments, assay technique for

lithium

etc, the parameters used

in determining the · No geophysical tools or

analysis including other non-assay

instrument make and instrument types were

model, reading times, used in the analyses

calibrations factors reported.

applied and their

derivation, · Review of routine

etc. standard reference

material and sample

· Nature of quality blanks suggest there are

control procedures no significant

adopted analytical bias or

( preparation errors in

eg standards, blanks, the reported

duplicates, external analyses.

laboratory checks) and

whether acceptable · Lithium assays for the

levels of accuracy RC field sample

(

ie lack of bias) and duplicates compare well

precision have been with the original sample

established. and are consistent with

the style of

mineralisation being

evaluated. The analyses

are considered to be

representative of the

geological zones which

were

sampled.

· No field duplicates

were taken for the DD

program.

· Internal laboratory

QAQC checks are reported

by the laboratory,

including sizing

analysis to monitor

preparation.

· Review of the internal

laboratory QAQC suggests

the laboratory is

performing within

acceptable

limits.

· No samples were

analysed at an umpire

lab.

Verific· The verification of · Drill hole data is

ation significant compiled and digitally

of intersections by either captured by company

sampli independent or geologists.

ng and alternative company

assayi personnel. · The compiled digital

ng data is verified and

· The use of twinned validated by the

holes. Companys database

consultant before

· Documentation of loading into the drill

primary data, data

entry procedures, data hole database.

verification, data · No specific twin holes

storage (physical and were drilled.

electronic)

protocols.

· Reported results are

· Discuss any adjustment compiled by the

to assay Companys database

data. consultant and the

Managing

Director.

· There were no

adjustments to assay

data.

Locatio· Accuracy and quality · Drill hole collars were

n of of surveys used to set out in UTM grid

data locate drill holes WGS84_Zone29N

points (collar and down-hole

surveys), trenches, · Drill hole collars were

mine workings and other positioned using hand

locations used in held

Mineral Resource GPS.

estimation.

· RC and DD holes are

· Specification of the routinely surveyed for

grid system orientation at

used. approximately 50m-spaced

intervals down the hole,

· Quality and adequacy using the Reflex EZ-TRAC

of topographic electronic multi-shot

control. system

· SRTM elevation data was

used to establish

topographic control

where

appropriate.

· Locational accuracy at

collar and down the

drill hole is considered

appropriate for this

stage of resource

estimation.

Data · Data spacing for · The majority of

spacin reporting of drilling is at 50m x 50m

g and Exploration centres, with deeper

distri Results. holes at 100m x 50m

bution spacing, and some minor

· Whether the data infill to approximately

spacing and 50m x 25m on selected

distribution is sections.

sufficient to establish

the degree of · This spacing is

geological and grade adequate to determine

continuity appropriate the geological and grade

for the Mineral continuity for reporting

Resource and Ore of Mineral

Reserve estimation Resources.

procedure(s) and

classifications · Compositing to 3m

applied. lengths has been applied

for the estimation of

· Whether sample Mineral

compositing has been Resources

applied.

Orienta· Whether the · Mineralisation at Goulam

tion orientation of sampling ina

of achieves unbiased outcrops at surface and

data sampling of possible the steeply dipping

in structures and the geometry of

relati extent to which this is mineralisation is

on to known, considering the therefore

geolog deposit well-defined.

ical type.

struct · Drilling orientation

ure · If the relationship has not biased the

between the drilling sampling.

orientation and the

orientation of key

mineralised structures

is considered to have

introduced a sampling

bias, this should be

assessed and reported

if

material.

Sample · The measures taken to · Samples are stored on

securit ensure sample site prior to road

y security.

transport by Company

personnel to the ALS

Laboratory in Bamako,

Mali.

· Chain of custody

procedures exist for the

transport of material

between ALS Laboratories

(Mali to Burkina Faso to

Perth).

Audits · The results of any · Cube Consulting

or audits or reviews of undertook a site visit

review sampling techniques and during RC drilling

s data. operations to review the

sampling

techniques.

· There has been no

external audit or review

of the Companys

sampling techniques for

diamond

drilling.

Section 2 - Reporting of Exploration Results

CriteriJORC Code explanation Commentary

a

Mineral· Type, reference · The reported results

teneme name/number, location are from an area within

nt and and ownership including the

land agreements or material

tenure issues with third Torakoro Permit, which is

status parties such as joint held 100% by Timbuktu

ventures, partnerships, Resources SARL, a Malian

overriding royalties, subsidiary of

native title interests,

historical sites, Birimian Limited

wilderness or national · Tenure is in good

park and environmental standing.

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.

Explora· Acknowledgment and · The area which is

tion appraisal of presently covered by the

done exploration by other

by parties. Torakoro Permit was

other explored intermittently

partie by government agencies

s in the period 1990 to

2008. Exploration

consisted of soil

sampling and mapping for

gold.

· In 2007-2008 an

evaluation of the

commercial potential for

lithium at

Goulamina was undertaken

by CSA Global as part of

the SYSMIN 7 economic

development

program.

· CSA undertook mapping

and bulk sampling of the

Goulamina outcrop but did

not undertake drilling.

Bulk sampling and

preliminary processing

testwork confirmed the

viability of the

pegmatite at

Goulamina to produce a

high quality chemical

grade lithium

concentrate

Geology· Deposit type, · Pegmatite Hosted

geological setting and Lithium Deposits are the

style of target for exploration.

mineralisation. This style of

mineralisation typically

forms as dykes and sills

intruding or in

proximity to granite

host

rocks.

· Surficial geology

within the project area

typically consists of

indurated gravels

forming plateaux, and

broad depositional

plains consisting of

colluvium and alluvial

to approximately 5m

vertical

depth.

· Lateritic weathering is

common away from the

Goulamina deposit and in

the broader project

area.

Drill · A summary of all · All relevant data from

hole information material to 2016 drilling programs

Inform the understanding of has been previously

ation the exploration results released to the

including a tabulation market.

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 · In reporting · All relevant data from

aggreg Exploration Results, 2016 drilling programs

ation weighting averaging has been previously

method techniques, maximum released to the

s and/or minimum grade market.

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.

Relatio· These relationships · All relevant data from

nship are particularly 2016 drilling programs

betwee important in the has been previously

n reporting of released to the

minera Exploration market.

lisatio Results.

n

widths· If the geometry of the

and mineralisation with

interc respect to the drill

ept

lengthhole angle is known, its

s 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

(

eg down hole length,

true width not

known).

Diagram· Appropriate maps and · All relevant data from

s sections (with scales) 2016 drilling programs

and tabulations of has been previously

intercepts should be released to the

included for any market.

significant discovery

being reported These

should include, but not

be limited to a plan

view of drill hole

collar locations and

appropriate sectional

views.

Balance· Where comprehensive · All relevant data from

d reporting of all 2016 drilling programs

report Exploration Results is has been previously

ing not practicable, released to the

representative market.

reporting of both low

and high grades and/or

widths should be

practiced to avoid

misleading reporting of

Exploration

Results.

Other · Other exploration · Density measurements

substa data, if meaningful and taken by Archimedes

ntive material, should be Method (water

explor reported including (but displacement) of core

ation not limited to): samples from 14 holes,

data geological all in

observations;

geophysical survey unweathered material.

results; geochemical · Whole core was used,

survey results; bulk but neither coated nor

samples - size and waxed.

method of treatment;

metallurgical test · These measurements were

results; bulk density, used to determine the

groundwater, bulk density for the

geotechnical and rock Mineral

characteristics; Resource.

potential deleterious

or contaminating · In addition to lithium

substances. (as

Li

2O), all holes were

assayed for a

multi-element suite to

evaluate the presence of

any potential co-product

or contaminating

material.

Further· The nature and scale · The Mineral Resource

work of planned further work estimate will be used to

(

eg tests for lateral support a scoping level

extensions or depth assessment of the key

extensions or processing parameters

large-scale step-out and estimate capital

drilling). costs, which will be

used to define

· Diagrams clearly subsequent phases of

highlighting the areas detailed work at the

of possible extensions,

including the main Bougouni Li Project.

geological · An environmental

interpretations and consultancy has been

future drilling areas, engaged to undertake a

provided this preliminary social and

information is not environmental assessment

commercially at

sensitive.

Goulamina.

·

Section 3 - Estimation and Reporting of Mineral Resources

CriteriaJORC Code explanation Commentary

Database· Measures taken to · Drilling database is

integri ensure that data has maintained by

ty not been corrupted by,

for example, Birimians database

transcription or keying consultant (Rock Solid

errors, between its Data Consultancy) in

initial collection and

its use for Mineral Datashed software,

Resource estimation look-up tables and fixed

purposes. formatting are used for

entering logging,

· Data validation spatial and sampling

procedures data for the deposit

used. databases. Sample

numbers are uniquely

coded and pre-numbered

bags used. Data transfer

for

downhole survey and

assaying information is

electronic via email.

These and other workflow

methods minimise the

potential of errors.

· Cube received data

directly exported from

Datashed in ASCII format,

then completed

validation checks on the

database comparing

maximum hole depths

checks

on all data, duplicate

numbering, missing data,

and interval error

checks using validation

rules in MS Excel before

importing records into

MS Access. Cube then

verified the data using

visual inspection of the

drillholes in Surpac v6.7,

in 3D to identify

inconsistencies of drill

hole traces.

Site · Comment on any site · Matt Bampton (Senior

visits visits undertaken by Consultant - Cube

the Competent Person Consulting) who is the

and the outcome of Competent Person,

those conducted a site visit

visits. in May 2016, during

which time he inspected

· If no site visits have the Project area

been undertaken including RC drilling,

indicate why this is sampling and sample

the despatch for the

case. receiving laboratory.

Notes and photographs

were taken along with

discussions with site

personnel regarding

geology and

mineralisation of the

deposits, procedures,

sampling and database

procedures, and Quality

Control procedures.

Minor recommendations

were made during a visit

to the RC rig involving

modifications to the

vibrating splitter, and

to record and collate -

where possible - the

depth of intersecting

the groundwater table.

Also minor

recommendations were

made for elements of the

(then) planned diamond

infill and extensional

drilling programs. No

other major issues were

encountered.

Geologic· Confidence in (or · The confidence in the

al conversely, the geological

uncertainty interpretation

interpre

tation of ) the geological of Main Zone and West

interpretation of the Zone of the

mineral

deposit. Goulamina Pegmatites is

good as a result of the

· Nature of the data consistency of

used and of any intercepts in RC and

assumptions diamond core drilling

made. programs, and their

correlation to the

· The effect, if any, of surface outcrops and

alternative sub-crops of

interpretations on

Mineral Resource spodumene-rich pegmatites.

estimation. · There is a very strong

correlation between the

· The use of geology in mineralised portion of

guiding and controlling the pegmatite dykes and

Mineral Resource the total dyke

estimation. intercept. Very little

pegmatite material is

· The factors affecting not significantly

continuity both of elevated in lithium

grade and content; thus the

geology. mineralisation

boundaries generally

match the lithological

boundaries of the

dykes.

· The confidence in the

geological

interpretation of two

narrow parallel or

cross-cutting

pegmatites is low, as the

surface interpretation

from outcrop and

sub-crop is generally

supported by only 1-2

drill-hole intercepts.

This confidence is

reflected in the

resource

classification.

Dimensio· The extent and · The Goulamina Mineral

ns variability of the Resource area has

Mineral Resource dimensions of 625m

expressed as length (strike length) in two

(along strike or main dykes up to 70m

otherwise), plan width, (true width) and 200m

and depth below surface (below surface). The

to the upper and lower maximum depth known to

limits of the Mineral date for the deepest

Resource. mineralisation is 160m

below the surface.

Estimati· The nature and · The block model was

on and appropriateness of the constructed using

modelli estimation technique(s) interpolation of grade

ng applied and key via Ordinary

techniq assumptions, including

ues treatment of extreme Kriging (OK), with an

grade values, Inverse Distance method

used as an internal

domaining, interpolation check, a global model

parameters and maximum was considered to be

distance of appropriate for

extrapolation from data preliminary scoping

points. If a computer level

assisted estimation studies.

method was chosen

include a description · High grade values were

of computer software reviewed, but it was

and parameters considered that

used. application of top-cuts

was not

· The availability of required.

check estimates,

previous estimates · Mineralised domains for

and/or mine production 4 separate pegmatite

records and whether the dykes were digitised in

Mineral Resource cross-section using 3D

estimate takes strings and then

appropriate account of

such wireframed to generate

data. solids. These were a

subset of lithological

· The assumptions made wireframes of these

regarding recovery of pegmatite

by-products. dykes.

· Estimation of · Drillhole sample data

deleterious elements or was flagged using domain

other non-grade codes generated from

variables of economic three dimensional

significance mineralisation domains

( and oxidation surfaces.

eg sulphur for acid mine Sample data was

drainage composited to three

characterisation). metre

· In the case of block downhole lengths using a

model interpolation, best

the block size in fit-method

relation to the average.

sample spacing and the · Interpolation

search parameters were set to a

employed. minimum number of 12

composites and a maximum

· Any assumptions behind number of 24 composites

modelling of selective for the estimate. A

mining maximum search ellipse

units. of 150m was used for

estimation runs in the

· Any assumptions about reportable resource.

correlation between

variables.

· Computer software used

· Description of how the for the modelling and

geological estimation was

interpretation was used

to control the resource Surpac v6.7, with SuperVis

estimates. or

software used to conduct

· Discussion of basis geostatistical

for using or not using and variographic analysis

grade cutting or.

capping.

· No by-product

· The process of recoveries were

validation, the considered;

checking process used, Fe

the comparison of model 2O3 was estimated, as an

data to drill hole element of

data, and use of

reconciliation data if potential interest in

available. terms of a future

spodumene concentrate.

· The parent block size

used is

20mN

x 20m E x 5m RL and

sub-blocked to 1.25mN x

2.5mE x 2.5mRL. The bulk

of the drilling data was

on 50m x 50m spaced

sections.

· No assumptions of

selective mining units

were

made.

· The mineralised domains

acted as a hard boundary

to control the Mineral

Resource

estimate.

· Block model validation

was conducted by the

following

means:

· Visual inspection of

block model estimation

in relation to raw drill

data on a section by

section

basis.

· Volumetric comparison

of the wireframe/solid

volume to that of the

block model volume for

each

domain.

· A global statistical

comparisons of input and

block grades, and local

composite grade (by

northing and RL)

relationship plots

(swath plots), to the

block model estimated

grade for each

domain.

· Comparison of the

(de-clustered) cut grade

drill

hole composites with the

block model grades for

each lode domain in

3D.

· No mining has taken

place and therefore no

reconciliation data is

available.

Moisture· Whether the tonnages · The tonnages are

are estimated on a dry estimated on a dry

basis or with natural basis.

moisture, and the

method of determination

of the moisture

content.

Cut-off · The basis of the · Cut-off grade for

paramet adopted cut-off reporting is 0.0% %

ers grade(s) or quality Li

parameters 2O, in line with

applied. recommendations based on

preliminary economic

considerations and the

minimum grade required

that can be upgraded to

make a saleable lithium

concentrate.

Mining · Assumptions made · The preliminary mining

factors regarding possible studies are based on

or mining methods, minimum open cut mining methods

assumpt mining dimensions and using a contract mining

ions internal (or, if fleet and conventional

applicable, external) drill and blast mining

mining dilution. It is methods.

always necessary as

part of the process of · These studies have been

determining reasonable used to generate an open

prospects for eventual pit shell to limit the

economic extraction to material in the block

consider potential model to that component

mining methods, but the which is considered to

assumptions made have reasonable

regarding mining prospects for eventual

methods and parameters economic extraction

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.

Metallur· The basis for · In 2007-2008 CSA

gical assumptions or undertook mapping and

factors predictions regarding bulk sampling of the

or metallurgical

assumpt amenability. It is Goulamina outcrop but did

ions always necessary as not undertake

part of the process of drilling.

determining reasonable

prospects for eventual · They collected a

economic extraction to representative bulk

consider potential sample comprising

metallurgical methods, 3,150kg of material,

but the assumptions which was subsequently

regarding metallurgical crushed and split to

treatment processes and 750kg for detailed

parameters made when processing test

reporting Mineral work.

Resources may not

always be rigorous. · This work included

evaluations of screen

Where this is the case, sizing

this should be reported

with an explanation of to optimize spodumene (lit

the basis of the hium) recoveries and

metallurgical preliminary dense media

assumptions separation

made. tests.

· The results of this

study indicated good

spodumene recoveries

(~84.7%) and a high mass

yield, to produce a high

quality chemical grade

spodumene concentrate

(~6.7%

Li

2O).

Environm· Assumptions made · No environmental or

ental regarding possible social assessment of the

factors waste and process Project has been

or residue disposal done.

assumpt options. It is always

ions necessary as part of · The Mineral Resource

the process of estimate will be used to

determining reasonable support a scoping level

prospects for eventual assessment of the key

economic extraction to project parameters,

consider the potential including those that

environmental impacts impact on environmental

of the mining and factors.

processing operation.

While at this stage the · An environmental

determination of consultancy has been

potential environmental engaged to undertake a

impacts, particularly preliminary social and

for a environmental assessment

at

greenfields project, may

not always be well Goulamina.

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.

Bulk · Whether assumed or · Bulk density

density determined. If assumed, determination for

the basis for the

assumptions. If unweathered material is

determined, the method derived from an analysis

used, whether wet or of dry density

dry, the frequency of measurements of drill

the measurements, the core from 14 diamond

nature, size and holes.

representativeness of

the

samples. · Whole core was used,

but neither coated nor

· The bulk density for waxed. The risk of not

bulk material must have using a method which

been measured by adequately accounts for

methods that adequately potential void spaces is

account for void spaces considered to be low in

( both the

vugs, porosity, etc),

moisture and pegmatites and granitic

differences between rocks.

rock and alteration

zones within the · In weathered material

deposit. (including minor

transported colluvium

· Discuss assumptions and

for bulk density

estimates used in the in-situ laterite), bulk

evaluation process of density was assumed,

the different based on data from other

materials. equivalent

granite-hosted

deposits.

· Bulk density was

assigned within the

block model attribute

density according to

the weathering profiles

and rock types.

Classifi· The basis for the · Blocks have been

cation classification of the classified as Indicated

Mineral Resources into or Inferred, based on a

varying confidence combination of data

categories. spacing, interpolation

metadata (number of

· Whether appropriate composites used,

account has been taken conditional bias slope,

of all relevant factors

(i.e. relative kriging variance) and

confidence in geological

tonnage/grade understanding.

estimations, Indicated Mineral

reliability of input Resources are defined

data, confidence in nominally on 50m x 50m

continuity of geology to 50m x 25m spaced

and metal values, drilling within the Main

quality, quantity and Zone pegmatite. Inferred

distribution of the Mineral Resources are in

data). part defined by data

density greater than 50m

· Whether the result x 50m spaced drilling

appropriately reflects within the Main Zone

the Competent Persons pegmatite, and for the

view of the bulk of the West Zone

deposit. pegmatite.

· The Mineral Resource

estimate appropriately

reflects the Competent

Persons view of the

deposit.

Audits · The results of any · Whilst Mr. Bampton (Comp

or audits or reviews of etent Person) is

reviews Mineral Resource considered to be

estimates. independent of

Birimian, no third party

reviews have as yet been

completed

on the October 2016 Minera

l

R

esource

Discussi· Where appropriate a · The relative accuracy

on of statement of the of the Mineral Resource

relativ relative accuracy and estimate is reflected in

e confidence level in the the reporting of the

accurac Mineral Resource Mineral Resource in

y/ estimate using an accordance with the

confide approach or procedure guidelines of the 2012

nce deemed appropriate by JORC

the Competent Person. Code.

For example, the

application of · The statement relates

statistical or to global estimates of

tonnes and grade.

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.

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