PROJECT No. OZ105-116

This is an alluvial mining project which is CIM NI 43-101 and JORC compliant. It has proven Gold reserves of 393,569 troy ounces identified, and probable Gold reserves of 344,373 troy ounces. Inferred Gold resources of 1,399,357 troy ounces, bring the total recorded Gold resources for this project to 2,137,299 troy ounces. Recently coordinated efforts have identified additional inferred resources, but at present this cannot be technically established without further thorough investigation on information supporting the extent of the Paleo Channel.

The Company has forward-looking production plans to process 24,000t/day of ore resources that could feasibly produce approximately 77,000 troy ounces Gold per annum based on a 306 day/year cycle.

This project contains some 470 Million m³ of which 160 Million m³ contains multiple Gold and precious metals along with a suite of four main industrial minerals including; Zirconium sands, Ilmenite, Rutile, and a range of accessory Titanium (Anatase, Leucoxene, Monazite and Xenotime), and with a small percentage containing 1.2% sapphire and other gems. Also established and identified is < 2.6% forward-looking potential of Bastnasite rare earths and Thorium in Monazite. These are observed, but not yet quantified.

The unique mineral suite of this project provides an attractive upside to the Gold endowment, with approximately 1.0% Ilmenite, 0.4 % Zirconium, 0.4% Rutile; along with indications of a low sensitivity grade of 0.18g/t of Platinum.


Please see Reserves and Resources for more information.