25 September 2024
Oracle Power
PLC
("Oracle" or the
"Company")
Northern Zone Gold Project
Drill Results
Oracle Power PLC (AIM:ORCP), an
international project developer, is pleased to provide an update
regarding the Northern Zone Intrusive Hosted Gold Project in
Western Australia (the "Northern Zone Project" or the "Project").
This includes the full assay results (including the 8 drill holes
announced on 19 September 2024) from the 1,826m aircore ("AC")
drilling programme undertaken during August and September 2024,
which continue to expand the gold mineralised footprint of the
porphyry and confirm the presence of a significant gold system at
the Project.
Highlights
·
New highest-grade interval to date from shallow
drilling at the Northern Zone Project
o 1m of 58.09 g/t gold within intercept of 5m @12.27 g/t
Au (NZAC062)
·
Significant shallow gold intercepts
include:
o 7m @
3.90 g/t Au from 35m (NZAC055)
o 4m @
3.97 g/t Au from 32m (NZAC061)
o 4m @
6.92 g/t Au from 57m (NZAC061)
o 5m @
12.27 g/t Au from 32m (NZAC062) (inc. 1m @ 58.09 g/t Au from
34m)
o 11m
@ 1.44 g/t Au from 29m (NZAC064)
o 29m
@ 1.29 g/t Au from 54m (NZAC065)
o 5m @
2.07 g/t Au from 46m (NZAC068)
o 6m @
3.48 g/t Au from 73m (NZAC077)
o 8m @
2.07 g/t Au from 50m (NZAC079)
·
Targeted drilling continues to intersect the top
of a large blind porphyry system, with widths now approaching 600m
(refer to Figure 1).
·
Further drilling is being designed utilising
Leapfrog software to follow up these latest high-grade
intercepts, and to target the expanding footprint of the
mineralised porphyry.
·
Drilling continues to validate the geological
model for the previously announced Exploration Target at the
Northern Zone Gold Project of 200Mt - 250Mt at a grade of 0.4 g/t
Au - 0.6 g/t Au for 2.5Moz - 4.8Moz of
gold.[1]
Naheed Memon, CEO of Oracle, commented:
"These latest
set of significant high-grade gold assays at Northern Zone continue
to expand the gold mineralised footprint of the porphyry and
confirm the presence of a significant gold system, which is located
just east of Kalgoorlie, Western Australia. Plans to drill more
shallow holes across the tenement are now being developed to
further explore the upper elevation of this blind porphyry, with
modelling using Leapfrog software driving the planning. As the
Australian dollar gold price approaches $4,000, this gold project
is fast becoming very interesting."
Figure 1: Cross-section of interpreted Au grade 3D model of
Northern Zone, constrained to all existing drill holes that have
been reported by Riversgold and to footnotes for all releases that
contain drilling information. Refer to Figure 3 for the plan
location of the section line.
Details
The Northern Zone Project located
25km east-south-east of the Kalgoorlie Super Pit in Western
Australia (refer to Figure 2 for location), is being advanced with
ASX-listed, Riversgold Limited ("Riversgold" or "RGL"), which has
the right to earn up to 80% interest in the tenement, as detailed
in the Company's announcement of 9 May 2023. The Northern Zone
Project has an Exploration Target of 200 to 250 million tonnes at a
grade of 0.4 g/t to 0.6 g/t Au for 2.5 million oz to 4.8 million oz
of gold, as announced by Riversgold on the ASX on 9 May
2023.
Following on from successful AC
programmes completed in May and July 2024, Riversgold engaged
drilling contractor Australian Aircore Drilling (Mick Shorter) to
undertake a third AC programme for a further 30 holes in late
August and early September 2024. A further 1,826m of AC drilling
was completed at the Northern Zone Project in the most recent
drilling campaign, bringing the total number of metres drilled this
year to 7,426m of AC drilling and 1,363m of reverse circulation
("RC") drilling.
The AC holes were drilled using a
blade to drilling refusal. The cuttings were logged by RGL
geologists, and both the detailed logging and assays continue to
show that a significant gold mineralisation event has taken place
within the project area.
All historical and recent drilling
data for a total of 189 drillholes at the Northern Zone Project has
now been uploaded into Leapfrog software enabling the generation of
a gold grade model (refer to Figure 1). Leapfrog will now be used
to guide the next round of drilling as the Company and Riversgold
(the "JV") continue to progress the Project.
Results from the recent 30-hole AC
drill programme have been received with significant intercepts
including:
·
4m @ 0.63 g/t Au from 27m (NZAC081)
·
1m @ 1.04 g/t Au from 63m (NZAC081)
·
1m @ 0.37 g/t Au from 32m (NZAC082)
·
1m @ 0.32/t Au from 27m (NZAC083)
·
2m @ 0.94 g/t Au from 36m (NZAC083)
·
1m @ 1.95 g/t Au from 34m (NZAC060)
·
2m @ 1.22 g/t Au from 56m (NZAC060)
·
5m @ 1.5 g/t Au from 30m (NZAC054)
·
1m @ 0.33 g/t Au from 50m (NZAC054)
·
1m @ 0.72 g/t Au from 63m (NZAC054)
·
4m @ 1.05 g/t Au from 30m (NZAC080)
·
1m @ 0.91 g/t Au from 50m (NZAC080)
·
2m @ 2.72 g/t Au from 33m (NZAC056)
·
7m @ 3.9 g/t Au from 35m (NZAC055)
(incl 1m at 6.84 g/t Au from 35m and
·
2m at 6.67 g/t Au from 37m)
·
1m @ 11.39 g/t Au from 31m (NZAC057)
·
1m @ 1.21 g/t Au from 32m (NZAC058)
·
4m @ 3.97 g/t Au from 32m (NZAC061)
(incl 1m at 11.88 g/t Au from 32m)
·
4m @ 6.92 g/t Au from 57m (NZAC061)
(incl 1m at 26.49 g/t Au from 57m)
·
5m @ 0.53 g/t Au from 75m (NZAC061)
·
5m @ 12.27 g/t Au from 32m (NZAC062)
(incl 1m at 58.09 g/t Au from 34m)
·
7m @ 0.61 g/t Au from 33m (NZAC063)
·
11m @ 1.44 g/t Au from 29m (NZAC064)
(incl 1m at 4.09 g/t Au from 32m)
·
29m @ 1.29 g/t Au from 30m (NZAC065)
(incl 2m at 8.39 g/t Au from 33m and
·
1m at 6.07 g/t Au from 42m)
·
1m @ 1.09 g/t Au from 54m (NZAC066)
·
3m @ 0.52 g/t Au from 49m (NZAC067)
·
5m @ 2.07 g/t Au from 46m (NZAC068)
(incl 1m at 8.74 g/t Au from 50m)
·
1m @ 1.42 g/t Au from 51m (NZAC069)
·
5m @ 1.17 g/t Au from 46m (NZAC070)
(incl 1m at 5.55 g/t Au from 50m)
·
1m @ 1.05 g/t Au from 33m (NZAC072)
·
4m @ 1.75 g/t Au from 53m (NZAC072)
(incl 1m at 5.48 g/t Au from 53m)
·
6m @ 3.48 g/t Au from 73m (NZAC077)
(incl 1m at 16.03 g/t Au from 77m)
·
8m @ 2.07 g/t Au from 50m (NZAC079)
(2m composites)
·
1m @ 1.09 g/t Au from 54m (NZAC085)
Significant shallow gold intercepts
from the August 2024 AC drilling programme include:
·
16m @ 4.69 g/t Au from 30m (NZAC033)
·
4m @ 6.9 g/t Au from 39m (NZAC029)
·
3m @ 3.32 g/t Au from 35m (NZAC030)
·
9m @ 1.2 g/t Au from 31m (NZAC048)
RC drilling from the July 2024
programme targeted the shallower, up dip portion of the mineralised
system, yielding several significant intercepts,
including:
· 18m
@ 4.14g/t Au from 36m (NZRC001)
· 54m
@ 0.38g/t Au from 158m (NZRC004)
· 14m
@ 0.76g/t Au, from 226m (NZRC004)
· 15m
@ 0.66g/t Au, from 160m (NZRC005)
· 8m @
0.57g/t Au, from 221m (NZRC005)
· 9m @
0.85g/t Au, from 176m (NZRC006)
· 22m
@ 0.41g/t Au, from 272 metres to EOH (NZRC006)
Significant results from the maiden
2023 diamond drill traverse programme included:
· 110m
@ 0.6 g/t Au from 208m (RSDD02)
· 5m @
3.03g/t Au from 221m
· 1m @
4.77g/t Au from 248m
· 1m @
5.26g/t Au from 262m
· 13m
@ 1.29g/t Au from 274m
· 16.4m @ 0.45g/t Au from 83.6m (RSDD003)
· 13m
@ 0.48g/t Au from 135m (RSDD003)
· 11m
@ 0.49g/t Au from 197m (RSDD003)
· 25m
@ 0.44g/t Au from 231m (RSDD003)
· 47m
@ 0.48g/t Au from 216m (RSDD01)
· 8m @
0.55g/t Au from 127m (RSDD02)
· 84m
@ 0.42g/t Au from 315m (RSDD003)
· 4m @
0.52g/t Au from 34m (RSDD04)
· 8m @
0.43g/t Au from 77m (RSDD04)
· 4m @
0.47g/t Au from 92m (RSDD04)
Significant results from 2021 and
prior RC drilling include :
· 154m
@ 0.58g/t Au from 98m (21OPRC004) incl 4m @ 5.39g/t Au from
182m
· 142m
@ 0.42g/t Au from 62m (BNRC081)
· 330m
@ 0.49 g/t Au from 30m (BNRC066) incl 54.79m @ 1.15g/t Au from
213m
· 117.7m @ 0.35g/t Au from 120.3m (BNRC034)
· 66m
@ 0.89g/t Au from 30m (BNRC069)
· 38m
@ 0.47g/t Au from 73m (BNRC084)
· 29m
@ 1.84g/t Au from 33m (BNRC017)
The above results indicate that the
JV is successfully continuing to probe the porphyry over an
increasing footprint within the tenement. The JV will continue
drilling to further its understanding of the Project before
proceeding with a Mineral Resource Estimate ("MRE").
Mineralisation remains open in
multiple directions, necessitating further drilling campaigns.
Refer to Figure 3 for drilling locations, and Tables 1 to 3 for
location and assay results.
-ENDS-
For
further information contact:
|
Oracle Power PLC
Naheed Memon -
CEO
|
+44 (0) 20
7236 1177
|
|
Strand Hanson Limited (Nominated Adviser &
Broker)
Rory Murphy, Matthew Chandler, Rob
Patrick
|
+44 (0) 20
7409 3494
|
|
St
Brides Partners Limited (Financial PR)
Isabel de Salis, Susie
Geliher
|
oracle@stbridespartners.co.uk
|
This announcement contains inside information for the purposes
of Article 7 of EU Regulation No. 596/2014, which forms part of
United Kingdom domestic law by virtue of the European Union
(Withdrawal) Act 2018, as amended by virtue of the Market Abuse
(Amendment) (EU Exit) Regulations 2019.
Competent Person's Statement
The Information in this
announcement that relates
to exploration results, exploration targets, mineral resources or
ore reserves is based on information compiled by Mr Edward Mead,
who is a Fellow of the Australasian Institute of Mining and
Metallurgy. Mr Mead is a director of Riversgold Limited and a
consultant to the company through Doraleda Pty Ltd. Mr Mead has
sufficient experience which is relevant to the style of
mineralisation and type of deposits under consideration and to the
activity that he is undertaking to qualify as a Competent Person as
defined in the 2012 edition of the `Australasian Code for Reporting Exploration
Results, Mineral Resources and Ore Reserves' (the JORC Code). Mr
Mead consents to the inclusion of this information in the form and
context in which it appears in this announcement.
Figure 2:
Northern Zone Project Map showing proximity to the Kalgoorlie
"Super Pit".
Figure 3: Drill collar plan with gold grade contours from all
drilling results to date and section line (Figure
1).
APPENDIX 1: Drilling Information
Table 1: Northern Zone Significant
Intercepts
|
Hole ID
|
From (m)
|
To (m)
|
Width (m)
|
Au g/t
|
Intercept
|
|
NZAC081
|
27
|
31
|
4
|
0.63
|
4m
@ 0.63 g/t Au from 27m
|
|
NZAC081
|
63
|
64
|
1
|
1.04
|
1m
@ 1.04 g/t Au from 63m
|
|
NZAC082
|
32
|
33
|
1
|
0.3
|
1m
@ 0.3 g/t Au from 32m
|
|
NZAC083
|
27
|
28
|
1
|
0.32
|
1m
@ 0.32/t Au from 27m
|
|
NZAC083
|
36
|
38
|
2
|
0.94
|
2m
@ 0.94 g/t Au from 36m
|
|
NZAC060
|
34
|
35
|
1
|
1.95
|
1m
@ 1.95 g/t Au from 34m
|
|
NZAC060
|
56
|
58
|
2
|
1.22
|
2m
@ 1.22 g/t Au from 56m
|
|
NZAC054
|
30
|
35
|
5
|
1.5
|
5m
@ 1.5 g/t Au from 30m
|
|
NZAC054
|
50
|
51
|
1
|
0.33
|
1m
@ 0.33 g/t Au from 50m
|
|
NZAC054
|
63
|
64
|
1
|
0.72
|
1m
@ 0.72 g/t Au from 63m
|
|
NZAC080
|
30
|
34
|
4
|
1.05
|
4m
@ 1.05 g/t Au from 30m
|
|
NZAC080
|
50
|
51
|
1
|
0.91
|
1m
@ 0.91 g/t Au from 50m
|
|
NZAC056
|
33
|
35
|
2
|
2.72
|
2m
@ 2.72 g/t Au from 33m
|
|
NZAC059
|
No significant intercepts
reported
|
|
|
|
NZAC055
|
35
|
42
|
7
|
3.9
|
7m
@ 3.9g/t Au from 35m
|
|
incl
|
35
|
36
|
1
|
6.84
|
|
|
incl
|
37
|
39
|
2
|
6.67
|
|
|
NZAC057
|
31
|
32
|
1
|
11.39
|
1m
@ 11.39g/t Au from 31m
|
|
NZAC058
|
32
|
33
|
1
|
1.21
|
1m
@ 1.21g/t Au from 32m
|
|
NZAC061
|
32
|
36
|
4
|
3.97
|
4m
@ 3.97g/t Au from 32m
|
|
incl
|
32
|
33
|
1
|
11.88
|
1m
@ 11.88g/t Au from 32m
|
|
NZAC061
|
57
|
61
|
4
|
6.92
|
4m
@ 6.92g/t Au from 57m
|
|
incl
|
57
|
58
|
1
|
26.49
|
|
|
NZAC061
|
75
|
80
|
5
|
0.53
|
5m
@ 0.53g/t Au from 75m
|
|
NZAC062
|
32
|
37
|
5
|
12.27
|
5m
@ 12.27g/t Au from 32m
|
|
incl
|
34
|
35
|
1
|
58.09
|
|
|
NZAC063
|
33
|
40
|
7
|
0.61
|
7m
@ 0.61g/t Au from 33m
|
|
NZAC064
|
29
|
40
|
11
|
1.44
|
11m
@ 1.44g/t Au from 29m
|
|
incl
|
32
|
33
|
1
|
4.09
|
|
|
NZAC065
|
30
|
59
|
29
|
1.29
|
29m
@ 1.29g/t Au from 30m
|
|
incl
|
33
|
35
|
2
|
8.39
|
|
|
incl
|
42
|
43
|
1
|
6.07
|
|
|
NZAC066
|
54
|
55
|
1
|
1.09
|
1m
@ 1.09g/t Au from 54m
|
|
NZAC067
|
49
|
52
|
3
|
0.52
|
3m
@ 0.52g/t Au from 49m
|
|
NZAC068
|
46
|
51
|
5
|
2.07
|
5m
@ 2.07g/t Au from 46m
|
|
incl
|
50
|
51
|
1
|
8.74
|
|
|
NZAC069
|
51
|
52
|
1
|
1.42
|
1m
@ 1.42g/t Au from 51m
|
|
NZAC070
|
46
|
51
|
5
|
1.17
|
5m
@ 1.17g/t Au from 46m
|
|
incl
|
50
|
51
|
1
|
5.55
|
|
|
NZAC071
|
No significant intercepts
reported
|
|
|
|
NZAC072
|
33
|
34
|
1
|
1.05
|
1m
@ 1.05g/t Au from 33m
|
|
NZAC072
|
53
|
57
|
4
|
1.75
|
4m
@ 1.75g/t Au from 53m
|
|
incl
|
53
|
54
|
1
|
5.48
|
|
|
NZAC073
|
No significant intercepts
reported
|
|
|
|
NZAC074
|
No significant intercepts
reported
|
|
|
|
NZAC075
|
No significant intercepts
reported
|
|
|
|
NZAC077
|
73
|
79
|
6
|
3.48
|
6m
@ 3.48g/t Au from 73m
|
|
incl
|
77
|
78
|
1
|
16.03
|
|
|
NZAC079
|
50
|
58
|
8
|
2.07
|
8m
@ 2.07g/t Au from 50m (2m composites)
|
|
incl
|
50
|
52
|
2
|
8.03
|
|
|
NZAC085
|
54
|
55
|
1
|
1.09
|
1m
@ 1.09g/t Au from 54m
|
Table 2: Northern Zone Aircore
Drill Collar Locations and information in GDA Zone 51J
|
Hole ID
|
East
|
North
|
Depth
|
Dip
|
Elevation
|
Azimuth
|
|
NZAC054
|
381486
|
6592615
|
72
|
-90
|
356.97
|
0
|
|
NZAC054
|
381486
|
6592615
|
72
|
-90
|
356.97
|
0
|
|
NZAC055
|
381512.5
|
6592563
|
84
|
-90
|
356.676
|
0
|
|
NZAC056
|
381538
|
6592588
|
60
|
-90
|
356.61
|
0
|
|
NZAC057
|
381537.5
|
6592538
|
71
|
-90
|
356.49
|
0
|
|
NZAC058
|
381562.5
|
6592563
|
61
|
-90
|
356.469
|
0
|
|
NZAC059
|
381512
|
6592612
|
58
|
-90
|
356.9
|
0
|
|
NZAC060
|
381509
|
6592637
|
58
|
-90
|
356.96
|
0
|
|
NZAC061
|
381487.5
|
6592588
|
81
|
-90
|
356.917
|
0
|
|
NZAC062
|
381562.5
|
6592613
|
46
|
-90
|
356.653
|
0
|
|
NZAC063
|
381587.5
|
6592638
|
54
|
-90
|
356.659
|
0
|
|
NZAC064
|
381600
|
6592650
|
59
|
-90
|
356.523
|
0
|
|
NZAC065
|
381612.5
|
6592663
|
59
|
-90
|
356.55
|
0
|
|
NZAC066
|
381912.5
|
6592550
|
63
|
-90
|
354.915
|
0
|
|
NZAC067
|
381900
|
6592537
|
62
|
-90
|
354.891
|
0
|
|
NZAC068
|
381925
|
6592563
|
60
|
-90
|
354.93
|
0
|
|
NZAC069
|
381887.5
|
6592638
|
61
|
-90
|
355.287
|
0
|
|
NZAC070
|
381900
|
6592650
|
57
|
-90
|
355.327
|
0
|
|
NZAC071
|
381912.5
|
6592663
|
60
|
-90
|
355.316
|
0
|
|
NZAC072
|
381937.5
|
6592638
|
66
|
-90
|
355.16
|
0
|
|
NZAC073
|
381950
|
6592650
|
69
|
-90
|
354.987
|
0
|
|
NZAC074
|
381962.5
|
6592663
|
60
|
-90
|
354.921
|
0
|
|
NZAC075
|
381825
|
6592875
|
67
|
-90
|
356.38
|
0
|
|
NZAC076
|
381837.5
|
6592888
|
28
|
-90
|
356.358
|
0
|
|
NZAC077
|
381850
|
6592900
|
88
|
-90
|
356.392
|
0
|
|
NZAC079
|
381875
|
6592925
|
90
|
-90
|
356.455
|
0
|
|
NZAC080
|
381511
|
6592587
|
71
|
-90
|
356.79
|
0
|
|
NZAC081
|
381608
|
6592511
|
64
|
-90
|
356.04
|
0
|
|
NZAC082
|
381622
|
6592525
|
60
|
-90
|
356.02
|
0
|
|
NZAC083
|
381637
|
6592537
|
71
|
-90
|
356.02
|
0
|
|
NZAC085
|
381537.5
|
6592563
|
65
|
-90
|
356.571
|
0
|
|
NZAC056
|
381538
|
6592588
|
60
|
-90
|
356.61
|
0
|
|
NZAC059
|
381512
|
6592612
|
58
|
-90
|
356.90
|
0
|
|
NZAC060
|
381509
|
6592637
|
58
|
-90
|
356.96
|
0
|
|
NZAC080
|
381511
|
6592587
|
71
|
-90
|
356.79
|
0
|
|
NZAC081
|
381608
|
6592511
|
64
|
-90
|
356.04
|
0
|
|
NZAC082
|
381622
|
6592525
|
60
|
-90
|
356.02
|
0
|
|
NZAC083
|
381637
|
6592537
|
71
|
-90
|
356.02
|
0
|
Table 3: Northern Zone Aircore
Results at > 0.3 g/t Au Grade Cutoff
|
Hole ID
|
From (m)
|
To (m)
|
Width (m)
|
Au Grade
(g/t)
|
|
NZAC054
|
30
|
31
|
1
|
0.87
|
|
NZAC054
|
32
|
33
|
1
|
0.93
|
|
NZAC054
|
33
|
34
|
1
|
1.35
|
|
NZAC054
|
34
|
35
|
1
|
4.1
|
|
NZAC054
|
50
|
51
|
1
|
0.33
|
|
NZAC054
|
63
|
64
|
1
|
0.72
|
|
NZAC056
|
33
|
34
|
1
|
5.09
|
|
NZAC056
|
34
|
35
|
1
|
0.35
|
|
NZAC060
|
34
|
35
|
1
|
1.95
|
|
NZAC060
|
56
|
57
|
1
|
0.8
|
|
NZAC060
|
57
|
58
|
1
|
1.64
|
|
NZAC080
|
30
|
31
|
1
|
2.45
|
|
NZAC080
|
32
|
33
|
1
|
0.35
|
|
NZAC080
|
33
|
34
|
1
|
1.2
|
|
NZAC080
|
50
|
51
|
1
|
0.91
|
|
NZAC081
|
27
|
28
|
1
|
0.72
|
|
NZAC081
|
28
|
29
|
1
|
0.77
|
|
NZAC081
|
29
|
30
|
1
|
0.41
|
|
NZAC081
|
33
|
34
|
1
|
0.32
|
|
NZAC081
|
63
|
64
|
1
|
1.04
|
|
NZAC082
|
32
|
33
|
1
|
0.37
|
|
NZAC083
|
27
|
28
|
1
|
0.32
|
|
NZAC083
|
36
|
37
|
1
|
1.5
|
|
NZAC083
|
37
|
38
|
1
|
0.37
|
|
NZAC055
|
35
|
36
|
1
|
6.84
|
|
NZAC055
|
36
|
37
|
1
|
2.1
|
|
NZAC055
|
37
|
38
|
1
|
7.41
|
|
NZAC055
|
38
|
39
|
1
|
5.92
|
|
NZAC055
|
39
|
40
|
1
|
0.71
|
|
NZAC055
|
40
|
41
|
1
|
1.23
|
|
NZAC055
|
41
|
42
|
1
|
3.12
|
|
NZAC057
|
31
|
32
|
1
|
11.39
|
|
NZAC061
|
32
|
33
|
1
|
11.88
|
|
NZAC061
|
33
|
34
|
1
|
0.33
|
|
NZAC061
|
34
|
35
|
1
|
3.47
|
|
NZAC061
|
57
|
58
|
1
|
26.49
|
|
NZAC061
|
58
|
59
|
1
|
0.56
|
|
NZAC061
|
60
|
61
|
1
|
0.36
|
|
NZAC061
|
75
|
76
|
1
|
1.08
|
|
NZAC061
|
79
|
80
|
1
|
1.17
|
|
NZAC062
|
33
|
34
|
1
|
0.5
|
|
NZAC062
|
34
|
35
|
1
|
58.09
|
|
NZAC062
|
35
|
36
|
1
|
2.04
|
|
NZAC062
|
36
|
37
|
1
|
0.51
|
|
NZAC063
|
33
|
34
|
1
|
1.53
|
|
NZAC063
|
34
|
35
|
1
|
0.41
|
|
NZAC063
|
35
|
36
|
1
|
1.79
|
|
NZAC064
|
29
|
30
|
1
|
1.02
|
|
NZAC064
|
30
|
31
|
1
|
2.4
|
|
NZAC064
|
31
|
32
|
1
|
2.59
|
|
NZAC064
|
32
|
33
|
1
|
4.09
|
|
NZAC064
|
33
|
34
|
1
|
1.77
|
|
NZAC064
|
34
|
35
|
1
|
0.96
|
|
NZAC064
|
35
|
36
|
1
|
1.01
|
|
NZAC064
|
36
|
37
|
1
|
0.88
|
|
NZAC064
|
37
|
38
|
1
|
0.55
|
|
NZAC064
|
39
|
40
|
1
|
0.54
|
|
NZAC065
|
30
|
31
|
1
|
0.48
|
|
NZAC065
|
31
|
32
|
1
|
0.96
|
|
NZAC065
|
32
|
33
|
1
|
2.72
|
|
NZAC065
|
33
|
34
|
1
|
11.71
|
|
NZAC065
|
34
|
35
|
1
|
5.07
|
|
NZAC065
|
35
|
36
|
1
|
0.65
|
|
NZAC065
|
37
|
38
|
1
|
1.08
|
|
NZAC065
|
42
|
43
|
1
|
6.07
|
|
NZAC065
|
43
|
44
|
1
|
1.44
|
|
NZAC065
|
44
|
45
|
1
|
0.79
|
|
NZAC065
|
51
|
52
|
1
|
2.47
|
|
NZAC065
|
55
|
56
|
1
|
1.62
|
|
NZAC065
|
58
|
59
|
1
|
0.98
|
|
NZAC066
|
44
|
45
|
1
|
0.37
|
|
NZAC066
|
49
|
50
|
1
|
0.38
|
|
NZAC066
|
54
|
55
|
1
|
1.09
|
|
NZAC067
|
49
|
50
|
1
|
0.32
|
|
NZAC067
|
50
|
51
|
1
|
0.97
|
|
NZAC068
|
41
|
42
|
1
|
0.4
|
|
NZAC068
|
46
|
47
|
1
|
1.05
|
|
NZAC068
|
48
|
49
|
1
|
0.48
|
|
NZAC068
|
50
|
51
|
1
|
8.74
|
|
NZAC069
|
51
|
52
|
1
|
1.42
|
|
NZAC070
|
33
|
34
|
1
|
0.62
|
|
NZAC070
|
50
|
51
|
1
|
5.55
|
|
NZAC071
|
51
|
52
|
1
|
0.81
|
|
NZAC072
|
33
|
34
|
1
|
1.05
|
|
NZAC072
|
53
|
54
|
1
|
5.48
|
|
NZAC072
|
56
|
57
|
1
|
1.5
|
|
NZAC073
|
26
|
27
|
1
|
0.57
|
|
NZAC073
|
50
|
51
|
1
|
0.95
|
|
NZAC074
|
30
|
31
|
1
|
0.63
|
|
NZAC074
|
41
|
42
|
1
|
0.3
|
|
NZCA074
|
50
|
51
|
1
|
0.58
|
|
NZAC077
|
45
|
46
|
1
|
0.32
|
|
NZAC077
|
74
|
75
|
1
|
0.81
|
|
NZAC077
|
76
|
77
|
1
|
0.7
|
|
NZAC077
|
77
|
78
|
1
|
16.03
|
|
NZAC077
|
78
|
79
|
1
|
3.03
|
|
NZAC079
|
12
|
18
|
6
|
0.33
|
|
NZAC079
|
50
|
52
|
2
|
8.03
|
|
NZAC079
|
66
|
68
|
2
|
0.46
|
|
NZAC085
|
54
|
55
|
1
|
1.09
|
APPENDIX 2: JORC INFORMATION
The following Tables are provided to
ensure compliance with the JORC Code (2012 Edition) requirements
for the reporting of Exploration Results at Northern
Zone.
Section 1: Sampling Techniques and
Data
(Criteria in this section applies to
all succeeding sections)
|
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.
|
Every metre drilled was placed on
the ground.
6m composites were collected using a
scoop method of sampling the coarse reject sample for the first
24m.
1m sampling using a rifle splitter
was trailed on the clays, from 24m, with sampling deemed to create
a high degree risk of smearing. The clays are not wet but have a
damp characteristic. A large metal scoop was used to sample between
70-90% of material from each metre drilled, to total between 2-3kg
samples.
Standard reference material, sample
duplicates and blanks, were undertaken at 25m sample
intervals.
Samples were sent to the laboratory
for crushing, splitting and analysis.
Analysis was undertaken by Jinnings
laboratories (Kalgoorlie) for gold assay by 50g fire
assay.
|
|
Drilling
techniques
|
Drill type (e.g. core, reverse circulation, open-hole hammer,
rotary air blast, auger, Bangka, sonic, etc) and details (eg 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).
|
Australian Aircore Drilling
completed the programme using a blade to refusal.
|
|
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 recovery was routinely
recorded via estimation of the comparative percentage of the volume
of the sample pile by the company geologist.
The sample recovery was deemed
excellent for representative assays, with consistent sample
recovery and no loss though the top of the cyclone.
The cyclone was cleaned or checked
every 3m.
|
|
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.
|
All holes have been geologically
logged for lithology, mineralisation and weathering. As well as
whether dry, damp or wet.
Logging is quantitative for presence
of quartz veins. All other logging is qualitative.
All metre intervals from 24m to end
of hole were chip trayed and photographed.
A brief description of each drilling
sample was recorded and a permanent record has been collected and
stored in chip trays for reference.
|
|
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.
|
1m sampling using a rifle splitter
was trialled on the clays, from 24m, with sampling deemed to create
a high degree risk of smearing. The clays are not wet but have a
damp characteristic. A large metal scoop was used to sample between
70-90% of material from each metre drilled, to total between 2-3kg
samples.
Standard reference material, sample
duplicates and blanks, were undertaken at 25m sample
intervals.
Samples were sent to the laboratory
for crushing, splitting and analysis.
The use of fire assay with 50g
charge for all AC drilling provides a level of confidence in the
assay database. The sampling and assaying are considered
representative of the in-situ material.
The sample size of 2-3 kilograms is
appropriate and representative of the grain size and mineralisation
style of the deposit.
|
|
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.
|
Jinnings (Kalgoorlie) were used for
all analysis of drill samples submitted by Riversgold. The
laboratory techniques below are for all samples submitted to
Jinnings and are considered appropriate for the style of
mineralisation defined within the Northern Zone Project
area:
Samples above 3Kg were riffle
split.
Pulverise to 95% passing 75
microns
50-gram Fire Assay (FA50A) - Au
Duplicates, Standards and Blanks were used for external laboratory
checks by RGL.
|
|
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.
|
Intercepts were reviewed by 2
company personnel.
|
|
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.
|
The collar position of each hole has
been picked up by Spectrum Surveys (Kalgoorlie) using a
DGPS.
|
|
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.
|
The holes were drilled on a nominal
East-West 12.5m spacing on traverses 12.5m apart, North-
South.
|
|
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.
|
The vertical drill holes were
designed to test for supergene mineralisation or weathered primary
ore zones and are believed to be unbiased based when interpretation
is applied at modelling results.
|
|
Sample
security
|
The measures taken to ensure sample
security.
|
Company personnel delivered samples
to Jinnings Kalgoorlie where they were submitted for
assay.
|
|
Audits or
reviews
|
The results of any audits or reviews of sampling techniques
and data.
|
Data reviews will be conducted on
completion of further drilling
|
Section 2: Reporting of Exploration
Results
(Criteria listed in the preceding
section also apply to this section)
|
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.
|
The Northern Zone Project is
comprised of one granted prospecting licence (P25/2651) which
covers an area of 82 hectares, and is held in the name of Oracle
Gold (WA) Pty Ltd.
RGL are farming into the Tenement
and have committed to spend $600,000 in exploration expenditure on
the tenement within the next two years. After Riversgold achieves
80% ownership, Oracle will be required to contribute pro-rata or
dilute.
|
|
Exploration done by other
parties
|
Acknowledgment and appraisal of exploration by other
parties.
|
The majority of previous exploration
in the area was by Northern Mining during 2007 to 2012 under the
Blair North project, multiple small resource areas were identified
at the George's Reward area to the south of P25/2651. Numerous gold
intersections were recorded
|
|
Geology
|
Deposit type, geological setting and style of
mineralisation.
|
The deposit is thought to be an
Intrusion Related Gold System (IRGS) style of mineral
deposit.
Further drilling will better define
the mineralisation style, and timing of the gold mineralisation
event.
|
|
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:
easting and northing of the drill hole
collar
elevation or RL (Reduced Level - elevation above sea level in
metres) of the drill hole collar
dip and azimuth of the hole
down hole length and interception depth
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.
|
Refer to Tables and Figures within
the body of the release.
|
|
Data aggregation
methods
|
In
reporting Exploration Results, weighting averaging techniques,
maximum and/or minimum grade 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.
|
Intersections are weighted average
grades based on a 0.001 g/t Au cut-off with unlimited waste zones
but with a targeted grade of above 2.0 g/t Au.
|
|
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 (eg 'down hole length,
true width not known').
|
The diamond drilling programme in
2023 confirmed the apparent widths of mineralisation as being
perpendicular to foliation and veining. We believe the step out RC
drilling to be the same as the diamond drilling. The true width of
mineralisation is still to be fully ascertained.
The Aircore drilling was vertical
and not designed for true width, but was targeting supergene
mineralisation.
|
|
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.
|
See body of the announcement for
relevant diagrams and photos.
Figure 1 was created using all data
released to the ASX and can be found in news releases referred to
in footnotes, with Leapfrog software, with Au grades composited to
9m intervals and then modelled using 1g/t Au, 0.5g/t Au and
0.3g/tAu. Orientation parameters for search ellipsoid of dip 55deg,
dip azimuth 50deg, ellipsoid ratio of 3:1. Spheroidal
interpolant.
|
|
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.
|
The reporting of exploration results
is considered balanced by the competent person.
|
|
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.
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See body of the
announcement.
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Further
work
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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.
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· Follow up phases of drilling to further test strike to be
undertaken.
· Core from phase 1 to allow for further metallurgical
studies.
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