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MarketScreener Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Saracen Mineral Holdings Limited    SAR   AU000000SAR9

SARACEN MINERAL HOLDINGS LIMITED

(SAR)
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Saracen Mineral : Organic Growth Strategy Continues to Deliver

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11/10/2019 | 08:10pm EST

Saracen Mineral Holdings Limited

Saracen set for further growth in production and mine life following more outstanding drilling results across the board

Organic growth strategy continues to deliver exceptional results

11th November 2019

HIGHLIGHTS

  • Strong start to the FY20 exploration campaign, with outstanding drilling results from Carosue Dam and Thunderbox
  • The results highlight the substantial potential for further growth in mine life and production at both centres
  • A$50m FY20 exploration budget is the centrepiece of Saracen's highly successful organic growth strategy
  • This strategy saw Reserves grow by 32% to 3.3Moz in FY19 at a discovery cost of just A$30 per Reserve ounce

Carosue Dam

  • At Karari - Dervish, thick high-grade drill results included:

Karari:

Dervish:

51m

@ 8.5g/t

20m @ 4.6g/t

24m

@ 14.3g/t

21m @ 4.5g/t

33m

@ 7.5g/t

26m @ 3.5g/t

18m

@ 6.0g/t

17m @ 4.0g/t

  • At the Atbara discovery (just 4km from the Carosue Dam mill), framework drill results included (aggregated):
    • 139m @ 1.1g/t (including 122m @ 1.1g/t, 8m @ 2.6g/t and 9m @ 1.1g/t)
    • 127m @ 1.3g/t (including 90m @ 1.1g/t, 10m @ 1.0g/t and 27m @ 2.2g/t)
  • At the Carosue Dam Seismic Project, 3D seismic survey completed with results anticipated during the current quarter
  • At Mt Celia regional, air core drilling has identified another strong anomaly south of the previously reported Okavango prospect, with new results up to 1640ppb

Thunderbox

  • At Thunderbox A Zone underground, drill results included 89m @ 2.0g/t and 72m @ 2.4g/t
  • At Thunderbox D Zone open pit, drill results included 86m @ 1.7g/t and 72m @ 2.4g/t
  • At Otto Bore, drill results included 8m @ 27.2g/t and 13m @ 7.9g/t

Registered Office:

Level 11/40 The EsplanadeASX:SAR

Perth WA 6000

Saracen Managing Director Raleigh Finlayson said the latest results highlighted the significant growth potential at the Company's existing assets.

"Our organic growth strategy continues to deliver exceptional returns on our investment by any measure," he said. "There is still immense potential to grow production and mine life at our assets, which also allows us to capitalise on our existing infrastructure. This combination of extremely low discovery costs and access to existing infrastructure ensures we generate outstanding returns on our capital, which is our overall objective."

More growth in FY20

Western Australian gold miner Saracen Mineral Holdings (ASX: SAR) is pleased to report another round of strong drilling results.

Saracen's increased exploration spend in recent years has past three years (after mining depletion) to a record 3.3Moz increase of 800,000oz despite 330,000oz mining depletion.

delivered global-leading growth, with Reserves doubling over the at 30 June 2019. FY19 was particularly successful, with a Reserve

Figure 1 - Track record of exploration investment delivering growth

4.0

60

3.5

50

Exploration spend (A$m) - Line

Ore Reserve (Moz) - Bars

3.0

2.5

40

2.0

30

1.5

20

1.0

0.5

10

0.0

0

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

This track record of success (FY19 discovery cost of A$30 per Reserve oz) has motivated FY20 exploration guidance of A$50m.

Figure 2 - FY20 group exploration spend

Carosue Dam Corridor

A$5m

Karari - Dervish

Exploration A$17m

Other

A$50m

A$18m

Thunderbox

A$10m

The FY20 campaign has started very strongly, with A$16m invested on exploration activities in the recent September quarter and a host of impressive results returned across the portfolio.

Page 2 of 64

Carosue Dam Operations - Drilling update

Karari - Dervish underground

The Karari - Dervish underground mine comprises two sister deposits, Karari and Dervish, adjacent to the Carouse Dam mill.

Karari drilling has focused on infill grade control following a significant increase in Ore Reserves at 30 June 2019. Drilling has continued with two underground rigs from the 1940 and 1916 drill drives. Multiple thick high grade results have confirmed the increasing grade profile with depth.

Significant results include 51m @ 8.5g/t, 33m @ 7.5g/t and 24m @ 14.3g/t. The high grade shoots remain open at depth and will be tested further during FY20.

Figure 3 - Karari Long Section, New Drill Results (Karari-Dervish mine)

Drilling will revert to extensional exploration and Resource definition early in the March quarter 2020, when the new 1805 drill drive is fully developed. This will be located 135m below the existing drill platform to facilitate the next phase of Reserve growth, weighted to FY21. This will be counterbalanced by enhanced contributions in FY20 from other areas within the portfolio.

Below is a table of significant Karari infill intercepts:

Significant drill results include:

KRGC681

51.0m

@ 8.5g/t

KRGC677

33.2m

@ 7.5g/t

KRGC682

24.0m

@ 14.3g/t

KRGC702

17.9m

@ 6.0g/t

KRGC655

11.4m

@ 8.7g/t

KRGC676

19.3m

@ 5.1g/t

Page 3 of 64

At the sister Dervish deposit, drilling in the south has continued to define the thick high grade shoot bound by the Osman Fault, with strong results including 17.0m @ 4.0g/t, 26.1m @ 3.5g/t and 13.9m @ 3.6g/t.

Drilling in the north similarly has defined thick high grade mineralisation within the current Ore Reserve. Significant new results include 20.3m @ 4.6g/t, 20.7m @ 4.5g/t and 10.2m @ 7.9 g/t.

Figure 4 - Dervish Long Section, New Drill Results (Karari-Dervish mine)

Extensional drilling from the existing drill platform is largely complete, with a hiatus planned in the June half 2020 whilst drilling capacity is deployed to Deep South to commence infill drilling ahead of ore development.

The next extensional exploration and Resource definition program at Dervish will commence when a new drill drive is established at depth, anticipated late in the June quarter 2020.

Below is a table of significant Dervish intercepts:

Significant drill results include:

WDGC271

20.3m @ 4.6g/t

WDGC272

20.7m @ 4.5g/t

WDGC254

26.1m @ 3.5g/t

WDGC211

17.0m @ 4.0g/t

WDGC229

29.3m @ 2.1g/t

WDGC292A

20.5m @ 2.7g/t

Page 4 of 64

Thunderbox Operations - Drilling update

Thunderbox underground

Recent drilling has been testing the margins of the mineralisation to optimise the extents of the Ore Reserve ahead of underground mining. The latest results have continued to demonstrate the consistent and persistent nature of the Thunderbox mineralisation, boding well for future underground stoping.

Significant new A Zone underground results include 89m @ 2.0g/t and 72m @ 2.4 g/t.

Figure 5 - Thunderbox Long Section, New Drill Results

Thunderbox D Zone

A small surface RC program has been completed in the D Zone to increase the definition of the high grade shoot. Previous drilling highlighted the prominence of the shoot with the new drilling adding further confidence.

Significant new D Zone open pit results include 86m @ 1.7g/t and 72m @ 2.4 g/t.

Below is a table of significant Thunderbox intercepts:

Significant drill results include:

THGC147

89.1m @ 2.0g/t

THGC150

72.0m @ 2.4g/t

THGC148

74.0m @ 1.7g/t

TBRC127

86.0m @ 1.7g/t

TBRC125

53.0m @ 1.5g/t

TBRC124

53.0m @ 1.1g/t

Page 5 of 64

Otto Bore

Extensional infill RC drilling has resumed at Otto Bore following the successful maiden Ore Reserve of 950kt at 2.0g/t for 60,000 ounces at 30 June 2019. The extensional drilling has focused on further defining the high grade shoots proximal to the Ore Reserve.

The recent drilling has further demonstrated the growth potential of the project with some impressive results being returned.

Significant new Otto Bore results include 8m @ 27.2g/t, 13m @ 7.8g/t and 16m @ 6.1 g/t.

Figure 6 - Otto Bore Long Section, New Drill Results

The recent program is only partially complete, with drilling set to resume when the Thunderbox D Zone program is finished later this month. The program will then focus on testing north of the Ore Reserve.

Below is a table of significant Otto Bore intercepts:

Significant drill results include:

OBRC0096

8.0m

@ 27.2g/t

OBRC0106

5.0m

@ 11.6g/t

OBRC0089

13.0m @ 7.9g/t

OBRC0088

16.0m @ 6.1g/t

OBRC0120

9.0m

@ 7.3g/t

Page 6 of 64

Regional Exploration - Update

Atbara (Carosue Dam Corridor)

Drilling along the highly prospective Carosue Dam Corridor has delivered early success, with a significant discovery at Atbara (announced in November 2018), only 4km north of the mill.

Broad 160m x 160m framework drilling has recently been completed, aimed at understanding the size of the system. A large system has been identified, with the majority of the mineralisation occupying a strike length of 860m between two major post mineralisation Proterozoic dykes. The system remains open at depth.

Significant new framework results include 122m @ 1.1g/t and 89m @ 1.1 g/t.

Figure 7 - Atbara Long Section, New Drill Results

Following completion of the framework drilling, a tight spaced 20m x 20m program has commenced. This program will assess the close space variability and continuity of the mineralisation, and assist in optimising the drill spacing required to define and build a future Mineral Resource estimate.

Detailed re-logging of the copper-molybdenum minerals with respect to gold has not identified any direct correlations, indicating the gold and copper-molybdenum may be from separate mineralising events. Recently over 15,000 pulp samples have been submitted for copper and molybdenum assay to determine if the copper-molybdenum is a key element of the overall system.

Page 7 of 64

Below is a table of significant Atbara exploration intercepts:

Significant drill results include:

Aggregated

Primary (or including)

ATEX027

139.2m @ 1.1g/t

122.0m @ 1.1g/t

7.7m @ 2.6g/t

9.5m @ 1.1g/t

ATEX035

126.7m @ 1.3g/t

89.5m

@ 1.1g/t

10.0m

@ 1.0g/t

27.2m

@ 2.2g/t

ATEX079

60.0m

@ 1.3g/t

26.0m

@ 1.5g/t

7.0m @ 1.4g/t

5.0m @ 1.2g/t

22m @ 1.2g/t

ATEX075

49.0m

@ 1.1g/t

49.0m

@ 1.1g/t

ATEX061

29.0m

@ 0.9/t

29.0m

@ 0.9/t

Carosue Dam Seismic Project

Completion of the 3D seismic survey data processing is anticipated in the current December quarter.

The high-resolution fully nodal acquisition recorded 263 million traces of seismic data over 50km2 including Karari, Dervish and Atbara. This is the highest resolution hard rock survey in Australia and the second largest by area to date. The majority of the survey has a 400-fold cover in a 7.5m x 7.5m bin size. Each depth slice of the final 3D cube will have about 1 million data points. Early indications suggest resolution of geological features in the 3D cube will be excellent.

Early review of the processed data confirms the high geological resolution that has been mapped by the survey. The fine detail that will be resolved will facilitate the construction of a highly definitive 3D geology model. This model will be extremely valuable when defining new drilling targets proximal to the existing mines and along the Carosue Dam corridor north to Atbara.

Figure 8 - Carosue Dam, 3D Seismic data

Page 8 of 64

Mt Celia

Broad pattern drilling (900m x 100m) has continued to progress south along the previously unexplored corridor proximal to the Pinjin Fault (approximately 80km north of the Carosue Dam mill).

The aircore drilling which commenced in FY19 has successfully identified a large anomaly (Okavango) to the west of Safari Bore. This significant anomaly is now defined over a strike length of 6.0km and is up to 1.2km wide. The Okavango prospect is a strong basement anomaly that is coincident with albite-sericite alteration and key pathfinder elements including; As, Bi, Mo, Sb, Te and Ce.

The aircore drill spacing at Okavango will be closed in to 200m lines during the remainder of the December quarter to better understand the geology and define the core of the anomaly. This will then form the basis of the initial deep test for primary mineralisation.

The recent wide spaced air core drilling further south has identified a new anomaly that strikes north-northwest between the Two Lids Fault and the Pinjin Fault. This new anomaly has been defined over a strike length of 6km.

Figure 9 - Mt Celia, Air core drilling results

Further air core drilling is planned during FY20 to complete the full program to the south and infill significant zones of anomalism defined during FY19 and FY20.

Page 9 of 64

Corporate Structure:

Ordinary shares on issue:

833.1m

Unvested employee performance rights:

17.2m

Market Capitalisation:

A$2.8b (share price A$3.41)

Cash, bullion and investments (30 September):

A$196.1m

Debt:

Nil

Substantial Shareholders:

Van Eck Global 12.1%

BlackRock Group 9.8%

Mitsubishi UFJ 5.0%

For further information please contact:

Investors:

Troy Irvin

Corporate Development Officer Email: info@saracen.com.au Contact (08) 6229 9100

Competent Person Statements

Media Enquiries:

Read Corporate

Paul Armstrong / Nicholas Read Email: info@readcorporate.comContact: (08) 9388 1474

The information in the report to which this statement is attached that relates to Exploration Results and Mineral Resources related to Gold is based upon information compiled by Mr Daniel Howe, a Competent Person who is a member of The Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists. Daniel Howe is a full-time employee of the company. Daniel Howe has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Daniel Howe consents to the inclusion in the report of matters based on his information in the form and context in which it appears.

Page 10 of 64

Table 1 - Karari Drill Results

KARARI DRILLING NOVEMBER 2019

Downhole

Hole

Easting

Northing

RL

Depth

Azimuth

Dip

From (m) To (m)

Width (m)

Grade g/t

KRGC632A

438621.5

6663775

-63.8198

123

299.4

-30.61

275

284.8

9.8

3.56

KRGC634

438621.7

6663775

-64.0198

315

300

-41.09

276

277

1

3.08

and

279

280.1

1.1

2.72

and

289

289.6

0.6

3.68

KRGC638

438730.7

6663301

-93.6925

177.36

188.7

-41.12 no significant results

KRGC639

438730.9

6663301

-93.716

206.5

172.8

-35.94

163.6

164.2

0.6

3.66

and

171.6

172.55

0.95

8.07

KRGC641

438640.7

6663720

-61.34

204

246.2

-56.3

144.3

147.7

3.4

2.70

KRGC642

438640.8

6663720

-61.39

222

211.6

-65.15

156.75

158.3

1.55

3.85

and

168

169.1

1.1

2.55

and

179.3

183

3.7

3.63

KRGC643

438640.5

6663720

-61.39

215

237.1

-62.46

132

134

2

2.77

and

150.6

157

6.4

2.99

and

162

162.4

0.4

3.65

and

188.8

189.45

0.65

5.34

and

193.6

203.05

9.45

5.88

KRGC644

438640.7

6663720

-61.204

240

214.76

-74.01

168.24

169.77

1.53

5.26

and

176.45

177.45

1

2.54

and

183.53

184.07

0.54

3.50

and

188.09

188.41

0.32

2.97

and

196.87

197.47

0.6

2.71

KRGC645

438640.9

6663720

-61.329

227.82

252.3

-67.59

164.7

166

1.3

5.45

and

169.96

170.68

0.72

5.63

and

171

172.02

1.02

2.75

and

175.12

175.85

0.73

2.95

and

207

214.4

7.4

8.82

KRGC646

438640.3

6663721

-61.3

231

264.5

-62.28

202.6

204.8

2.2

5.53

and

208.2

212.1

3.9

7.48

and

217.2

218.2

1

2.80

KRGC647

438640.4

6663721

-61.302

248

243.5

-77.86

212.4

213.2

0.8

2.83

and

219

220.8

1.8

2.67

and

230.3

231.9

1.6

2.92

KRGC648

438640.5

6663721

-61.318

249

259.4

-75.88

171.25

171.7

0.45

2.59

and

180.9

184.3

3.4

2.76

and

194.6

198.4

3.8

2.88

and

211.4

212.9

1.5

3.35

and

225.8

226.3

0.5

3.95

KRGC649

438640.7

6663720

-61.314

267

284.1

-72.83

133.85

134.8

0.95

4.86

and

182.8

183.65

0.85

3.28

and

188.6

188.95

0.35

5.30

and

243.3

244.9

1.6

4.29

KRGC650

438640.7

6663720

-61.295

275.1

295.7

-70.75

211.35

212.2

0.85

2.51

and

242

243

1

6.84

KRGC651

438641.1

6663720

-61.327

258

197.6

-82.3

203

203.9

0.9

4.10

and

209.25

212.2

2.95

3.19

and

215.3

221.7

6.4

2.68

and

230.5

249

18.5

3.21

KRGC652

438641

6663720

-61.312

260.5

238.3

-82.09

185.2

186.05

0.85

2.77

and

189

189.45

0.45

3.20

and

195

195.5

0.5

2.95

and

197

198

1

2.79

and

201.3

202

0.7

5.18

and

208

208.7

0.7

6.05

and

213.1

221

7.9

2.81

and

224.5

232

7.5

4.64

and

241.5

241.9

0.4

2.74

Page 11 of 64

KARARI DRILLING NOVEMBER 2019

Downhole

Hole

Easting

Northing

RL

Depth

Azimuth

Dip

From (m) To (m)

Width (m)

Grade g/t

KRGC653

438641.2

6663720

-61.328

273

261.4

-83.76

210.8

211.7

0.9

3.26

and

214.4

215.4

1

6.44

and

218.6

228.6

10

3.38

and

231.7

246.8

15.1

4.29

KRGC654

438642.1

6663721

-61.309

318

294.8

-79.3

201

202

1

2.81

and

229

229.9

0.9

3.52

and

234.2

234.95

0.75

2.66

and

246

247

1

7.78

and

250.2

251

0.8

2.98

KRGC655

438619.6

6663777

-63.784

275.6

296.6

-51.93

235.5

246.9

11.4

8.69

KRGC656

438620.1

6663778

-63.407

293

297.7

-42.36

254.8

256

1.2

5.84

KRGC657

438620.2

6663778

-63.407

168

299.3

-38.18 hole not sampled

KRGC658

438620.2

6663778

-63.206

317

302.4

-36.45

138.3

138.8

0.5

2.81

and

283.3

287.1

3.8

3.94

and

292.55

293.6

1.05

7.87

KRGC658A

438620.3

6663778

-63.539

311.8

304

-33.12

283.15

290.8

7.65

3.50

KRGC659

438620.2

6663778

-63.206

150.13

304.7

-34.81 hole not sampled

KRGC660

438620.2

6663778

-63.605

180

308.8

-30.1 hole not sampled

KRGC661

438619.5

6663776

-63.256

162

302.4

-45.78 hole not sampled

KRGC661A

438620.4

6663778

-63.313

360

306.5

-43.21

283.15

290.8

7.65

3.50

and

315.7

316

0.3

5.37

and

318

321.05

3.05

3.06

KRGC662

438620.2

6663778

-63.518

351

305.2

-37.28

304

306

2

7.64

and

309.75

310.4

0.65

3.27

and

313.25

313.9

0.65

4.67

and

317.55

320.1

2.55

3.36

and

322

327

5

4.99

and

336.5

337.2

0.7

3.28

KRGC663

438620.1

6663778

-63.518

234

307.7

-40.36 no significant results

KRGC664

438620.5

6663778

-63.544

342

308.5

-33.58 no significant results

KRGC665

438620.2

6663778

-63.68

198

310.7

-38.7 hole not sampled

KRGC666

438620.3

6663778

-63.634

312

302.6

-26.37

254.9

255.75

0.85

3.45

and

256.85

257.95

1.1

3.14

and

262.2

263.3

1.1

3.04

and

265.95

267

1.05

2.83

KRGC667

438703.3

6663343

-93.922

186

251

-74.01

140

141

1

4.29

and

145

146

1

2.75

and

157

157.4

0.4

2.98

KRGC668

438701.6

6663345

-92.522

182.6

269.4

-67.85

120

121.7

1.7

3.45

and

127.6

127.9

0.3

3.19

and

137.6

138.4

0.8

6.32

and

149.45

149.75

0.3

20.70

and

170.5

171.05

0.55

6.50

KRGC669

438701.5

6663346

-93.927

170.8

269.1

-58.01

110.85

115.3

4.45

3.57

and

119.5

124

4.5

2.72

and

141

142

1

4.19

and

147.15

148

0.85

2.99

KRGC670

438701

6663345

-92.413

192

285.4

-71.79

132.6

137

4.4

2.88

and

149.2

150

0.8

2.70

KRGC671

438702.2

6663347

-93.809

183.1

283.4

-51.52

112.6

113

0.4

2.70

and

113.5

114

0.5

2.99

and

120.2

125

4.8

11.39

and

133

135

2

3.56

and

149

149.81

0.81

3.23

and

169

173

4

14.24

KRGC672

438702.2

6663347

-93.757

193.2

288.7

-60.33

133.6

135.12

1.52

6.56

and

138.33

139.21

0.88

9.13

and

166.32

166.92

0.6

4.97

Page 12 of 64

KARARI DRILLING NOVEMBER 2019

Downhole

Hole

Easting

Northing

RL

Depth

Azimuth

Dip

From (m) To (m)

Width (m)

Grade g/t

KRGC673

438702.7

6663346

-93.897

219

297

-69.02

140.5

141

0.5

11.10

and

145

146

1

2.54

and

152

153

1

6.30

and

157.2

157.65

0.45

6.36

and

158.85

159.15

0.3

4.39

and

178

179.15

1.15

3.70

KRGC674

438703.1

6663345

-93.916

230.9

307.9

-73.2

145.7

148.56

2.86

4.34

KRGC675

438702.3

6663347

-93.71

233.89

313.9

-58.35

153

157.1

4.1

5.16

and

165.5

166

0.5

4.12

and

178.03

178.6

0.57

2.98

and

182

182.8

0.8

2.51

and

185.6

186

0.4

2.97

and

191.5

192

0.5

2.58

and

208.2

208.7

0.5

10.50

KRGC676

438702.4

6663347

-93.688

216

313.6

-51.55

168.2

187.5

19.3

5.06

and

208

210

2

3.02

and

214

215

1

2.69

KRGC677

438620.4

6663778

-63.493

414

316

-46.36

336.85

370

33.15

7.45

KRGC678

438620.3

6663778

-63.858

350

313.5

-46.19

312.4

318

5.6

6.69

and

323

324

1

4.13

and

335

336

1

4.22

KRGC680

438620.4

6663778

-63.344

357

310.1

-40.87

320.15

321.45

1.3

5.62

and

331.1

344

12.9

5.79

KRGC681

438620.5

6663778

-63.786

362.8

312.8

-50.91

311.05

362

50.95

8.55

KRGC682

438620.4

6663778

-63.567

344.2

315.2

-53.74

296

320

24

14.25

and

327

332.7

5.7

3.74

KRGC683

438620.2

6663778

-63.731

248.9

304.7

-47.75 no significant results

KRGC684

438704.3

6663345

-93.927

251.4

333.7

-75.74

204

205

1

3.23

KRGC685

438704.7

6663345

-93.87

261

327.6

-63.8

189

190

1

2.93

and

205.77

208

2.23

4.18

and

213

226

13

3.89

and

232.05

232.38

0.33

5.99

and

236.22

238

1.78

2.83

KRGC686

438704.3

6663345

-93.917

245.7

322

-58.86

171.65

172.89

1.24

3.66

and

178.05

180

1.95

4.09

and

184.95

186.35

1.4

10.94

and

206

207

1

3.42

KRGC687

438703.3

6663348

-93.745

258

331.3

-55.76

189

212

23

3.11

and

219.5

219.9

0.4

2.51

KRGC688A

438704.2

6663345

-93.913

245.6

327.6

-51.58

188

190.45

2.45

7.96

and

193.5

198

4.5

11.34

and

205.65

210

4.35

7.69

KRGC689

438702.4

6663347

-92.557

263.6

334.2

-50.37

209.5

216.95

7.45

4.42

and

220.45

221.1

0.65

7.31

and

225.25

227

1.75

6.88

and

245

247

2

3.24

KRGC690

438704

6663348

-93.768

249

324.1

-47.72

198

203.5

5.5

2.73

and

209.2

209.5

0.3

3.88

and

220

220.46

0.46

2.63

KRGC691

438702.4

6663347

-92.557

254.6

330.7

-47.22

209

222.7

13.7

4.23

KRGC692

438704.2

6663345

-93.934

281.6

337.4

-47.83

224.6

247

22.4

3.88

and

258.6

259.3

0.7

4.03

and

262.7

264

1.3

2.68

KRGC693

438732.7

6663301

-93.373

216

174.9

-30.67

150.6

152.84

2.24

12.59

and

160

162.2

2.2

3.63

and

166

168.3

2.3

4.47

and

177.3

177.9

0.6

14.50

Page 13 of 64

KARARI DRILLING NOVEMBER 2019

Downhole

Hole

Easting

Northing

RL

Depth

Azimuth

Dip

From (m) To (m)

Width (m)

Grade g/t

KRGC694

438732.7

6663301

-93.4

195

179.5

-34.18

135

136

1

3.07

and

152.46

152.9

0.44

2.64

and

183.8

184.25

0.45

3.17

KRGC695

438732.8

6663301

-93.304

260.82

162.6

-28.41

200.7

205.6

4.9

2.69

and

247.5

248.6

1.1

4.07

KRGC696

438619.6

6663777

-63.979

249

288.4

-43.28

206

215.1

9.1

4.55

and

222.74

224

1.26

3.83

KRGC697

438619.7

6663777

-63.991

237

283.2

-53.52

194.9

195.85

0.95

8.57

and

213

220.9

7.9

4.61

KRGC698

438620.1

6663778

-63.474

324

303.9

-46.17

279

280

1

3.37

KRGC699

438619.8

6663778

-63.898

285

299.6

-55.3

244

254.91

10.91

7.17

KRGC700

438619.7

6663777

-63.585

165

307.2

-50.84

163.15

163.5

0.35

2.91

KRGC701

438619.8

6663777

-63.594

282

303.5

-56.6

256.33

260

3.67

4.27

and

261.73

263

1.27

3.01

and

263.65

270

6.35

5.80

KRGC702

438619.7

6663777

-63.52

294

307.1

-60.21

253

270.9

17.9

6.00

KRGC703

438619.7

6663777

-63.586

141

301

-51.76 results pending

KRGC704A

438733.1

6663301

-93.041

302

160.9

-19.98

232

232.45

0.45

7.07

KRGC705

438733.1

6663301

-93.225

315

155.2

-25.93 no significant results

KRGC706

438619.5

6663777

-63.353

312

299.7

-31.46

249.2

249.7

0.5

6.73

and

253

266.85

13.85

3.96

KRGC707

438619.7

6663777

-63.72

341

304.8

-37.33

260.7

263.7

3

4.70

KRRD444

438729.3

6663312

-93.8787

282

65.4

-83.05 no significant results

KRRD449

438732.9

6663301

-93.003

285

158.8

-31.66

253

253.9

0.9

4.45

KRRD450

438732.7

6663300

-93.092

261

163.7

-34.67

188.1

194.9

6.8

4.99

and

201

202.3

1.3

2.85

KRRD451

438732.9

6663301

-93.055

261

160.9

-39.77

194.9

197.7

2.8

5.64

and

219.5

219.9

0.4

3.69

and

229.5

230

0.5

10.50

KRRD452

438733

6663301

-93.131

255

162.5

-44

180.5

181.1

0.6

11.90

and

220

221

1

5.71

KRRD453

438732.8

6663301

-93.208

231

169.9

-43.97

155.8

156.3

0.5

2.50

and

156.8

157.15

0.35

2.71

and

164

164.7

0.7

3.06

and

193

193.87

0.87

2.56

KRRD454

438732.8

6663301

-93.442

207

184.4

-53.77

136

136.75

0.75

10.00

and

156.15

156.9

0.75

2.56

KRRD455

438732.7

6663301

-93.477

261

161.1

-50.56

184.3

185

0.7

7.23

Page 14 of 64

Table 2 - Whirling Dervish Drill Results

WHIRLING DERVISH NOVEMBER 2019

Downhole

Hole

Easting

Northing

RL

Depth

Azimuth

Dip

From (m) To (m)

Width (m)

Grade g/t

WDEX063

438335

6665537

140.42

576

344.20

-66.95

236

237

1

1.71

and

280

281.6

1.6

2.49

and

397.25

399

1.75

2.97

and

408.6

419

10.4

2.43

and

452.2

453

0.8

1.55

and

471.31

476

4.69

1.52

and

479.15

480.5

1.35

2.24

and

482

483

1

1.54

and

489.32

490.15

0.83

2.76

WDGC207

438381.5

6665508

141.345

267

188.88

-54.27

155

156

1

18.10

and

161.94

166.64

4.7

4.10

and

179

182.72

3.72

3.52

and

190.95

191.5

0.55

4.58

and

228.11

229.19

1.08

1.55

and

240.53

241.55

1.02

6.41

and

249

256

7

4.39

WDGC208

438381.1

6665508

141.353

191.4

173.40

-53.76 no significant results

WDGC209

438381.6

6665508

141.273

326.9

164.70

-51.64

170.6

172.15

1.55

3.01

and

177.15

177.6

0.45

2.94

and

213.05

214.05

1

1.84

and

226.6

227.6

1

8.44

and

239

254.4

15.4

1.69

and

263

264

1

2.62

and

285

297

12

1.99

WDGC210

438381.4

6665508

141.295

284.9

184.80

-58.96

170.1

178

7.9

2.44

and

187.05

194.75

7.7

2.92

and

206

207

1

2.08

and

217.8

218.25

0.45

8.04

and

225.65

227.1

1.45

3.55

and

253.4

263.7

10.3

1.71

WDGC211

438381

6665508

141.243

323.8

166.70

-58.70

128.2

128.75

0.55

12.70

and

172

173

1

2.06

and

191

192

1

1.72

and

217.05

228

10.95

2.05

and

236

243

7

2.99

and

254.6

255.6

1

2.00

and

265.7

266.4

0.7

1.86

and

293

310

17

3.95

WDGC212

438380.8

6665508

141.352

294

192.10

-68.31

139

141.8

2.8

2.26

and

146

146.6

0.6

2.53

and

230.75

234

3.25

3.41

and

251.9

276

24.1

1.93

WDGC213

438380.5

6665508

141.299

279

210.00

-65.64

133.85

137.4

3.55

1.98

and

147.15

147.95

0.8

2.67

and

184.25

185.55

1.3

3.86

and

221.2

223.1

1.9

13.07

and

232.8

233.25

0.45

23.30

and

249.4

253.35

3.95

2.96

and

259.65

260.45

0.8

1.53

WDGC214

438380.5

6665508

141.308

278.8

213.20

-68.59

138.9

139.6

0.7

4.75

and

150.25

151

0.75

2.29

and

224.5

225.6

1.1

2.23

and

228.5

230.65

2.15

1.68

and

238.55

244

5.45

3.03

and

250

262.1

12.1

3.53

Page 15 of 64

WHIRLING DERVISH NOVEMBER 2019

Downhole

Hole

Easting

Northing

RL

Depth

Azimuth

Dip

From (m) To (m)

Width (m)

Grade g/t

WDGC223

438262.4

6665623

142.0054

267

263.30

-16.07

71

72

1

1.67

and

111

112

1

2.97

and

114.9

118.55

3.65

1.88

and

226.1

227.3

1.2

1.55

and

240.05

241

0.95

2.58

and

244.95

245.95

1

3.26

WDGC224

438262.5

6665623

141.6945

261

264.00

-24.15

108.4

118

9.6

2.08

and

141

142

1

2.14

and

171

172.1

1.1

3.26

and

219.1

220.35

1.25

1.55

and

228.2

234.5

6.3

2.61

and

245

246.15

1.15

1.78

WDGC228

438264.2

6665621

142.511

237

251.40

-34.66

89.3

90

0.7

3.03

and

93

95

2

3.88

and

99

100

1

1.98

and

129

134.7

5.7

1.66

and

137

144.5

7.5

2.11

and

210

211

1

4.31

and

221.85

222.55

0.7

2.15

WDGC229

438264.1

6665621

142.43

246

257.30

-33.49

86

115.3

29.3

2.14

and

140.6

147

6.4

4.66

and

205

205.45

0.45

1.54

and

212

213

1

1.85

and

220.6

227

6.4

1.88

WDGC231

438264.1

6665621

142.586

254.9

256.30

-22.72

103.05

104

0.95

1.91

and

105

106

1

1.51

and

108.7

109.35

0.65

2.24

and

125

126

1

2.06

and

140

141

1

2.10

and

157.4

161.95

4.55

6.85

and

195.7

198

2.3

2.06

and

222.3

225.5

3.2

1.62

and

228

231.55

3.55

2.02

WDGC231A

438263.7

6665622

142.557

261

255.30

-18.82

75.05

76

0.95

2.00

and

85

86

1

1.63

and

110.15

110.65

0.5

2.99

and

136.4

136.75

0.35

5.77

and

138

139

1

1.77

and

196

197.15

1.15

1.65

and

227.5

228.1

0.6

1.90

and

231.8

233

1.2

1.92

and

236.1

236.7

0.6

4.72

WDGC232

438263.6

6665622

142.299

177

267.00

-40.66

122

122.4

0.4

6.51

and

142

142.75

0.75

2.33

WDGC233

438262.8

6665627

142.271

285

278.70

-34.79

132

142

10

2.35

and

151

154

3

1.81

and

174

175

1

1.94

and

253

254

1

7.73

WDGC234

438262.5

6665627

142.665

402

285.50

-22.07

141.9

144

2.1

1.70

and

154.15

154.65

0.5

4.96

and

165.2

175.7

10.5

2.11

and

183.8

184.5

0.7

2.80

and

190

191

1

1.82

and

347.2

353.2

6

1.50

WDGC235

438262.4

6665626

142.537

299.6

281.20

-24.63

117.96

118.34

0.38

1.59

and

133.44

134.2

0.76

2.77

and

135.91

136.37

0.46

1.79

and

143.96

144.43

0.47

5.53

and

150.32

162.55

12.23

1.67

and

287.81

290.42

2.61

4.85

Page 16 of 64

WHIRLING DERVISH NOVEMBER 2019

Downhole

Hole

Easting

Northing

RL

Depth

Azimuth

Dip

From (m) To (m)

Width (m)

Grade g/t

WDGC236

438262.7

6665627

142.553

245.9

294.90

-17.54

158.6

159.12

0.52

3.76

and

165.65

195.45

29.8

1.83

and

202.9

218.14

15.24

1.77

WDGC237

438268.1

6665617

142.354

219

228.10

-37.39

117.9

119

1.1

2.68

and

132.9

135

2.1

2.84

and

144

146

2

3.38

and

202

203

1

2.09

and

205.2

207.2

2

1.82

WDGC238

438268.1

6665617

142.304

231

233.30

-46.47

132.55

140

7.45

2.26

and

148.45

149.35

0.9

1.53

and

208.2

212.55

4.35

2.33

WDGC239

438268.2

6665617

141.979

242.9

214.60

-50.83

105.8

107

1.2

2.09

and

144

145

1

2.62

and

208

210

2

4.79

and

216.3

224.55

8.25

3.51

WDGC240

438268.1

6665617

141.932

236.9

233.60

-52.77

104.9

105.45

0.55

1.63

and

208.7

218.95

10.25

4.95

WDGC241

438268.1

6665617

142.08

237

256.60

-51.31

102.65

104.1

1.45

4.71

and

110.7

111.2

0.5

2.89

and

149.8

151.8

2

2.49

and

216

228

12

2.90

WDGC242

438262.6

6665627

142.359

389.9

292.01

-22.41

160.7

162.5

1.8

1.91

and

172

173

1

1.90

and

193.15

204

10.85

2.61

and

212

213

1

1.97

and

220

221.25

1.25

1.79

and

376.25

377

0.75

2.50

WDGC243

438268.2

6665617

141.952

260.8

200.60

-54.56

113

113.85

0.85

2.58

and

206.4

207.15

0.75

2.49

and

214

215

1

2.82

and

225

226

1

1.58

and

237.1

238

0.9

2.85

WDGC244

438268.4

6665616

141.953

254.7

210.00

-58.79

110.9

111.35

0.45

2.32

and

213

226.2

13.2

1.77

and

234

237

3

2.75

WDGC245

438268.4

6665616

141.99

255.05

223.38

-61.80

114.05

115.9

1.85

1.79

and

217.05

238.25

21.2

2.47

WDGC246

438268.4

6665617

141.991

241.9

233.50

-60.81

113.2

113.55

0.35

1.73

and

217.05

221.25

4.2

5.58

and

227.45

234

6.55

3.83

WDGC247

438268

6665617

142.16

258

259.90

-59.81

117.95

121.2

3.25

1.93

and

225

235.1

10.1

4.26

and

241

242.1

1.1

2.53

WDGC248

438268

6665617

142.021

263.93

273.10

-55.32

123.8

124.3

0.5

3.59

and

132.6

134

1.4

2.38

and

255

256

1

1.64

WDGC249

438379.4

6665508

141.63

209.85

156.90

-33.27

180.75

181.5

0.75

2.64

and

188.4

189.25

0.85

5.59

WDGC250

438379.5

6665508

141.844

305.6

171.30

-24.44

127

129

2

7.49

and

266.35

283.4

17.05

1.58

and

285.25

285.65

0.4

2.77

and

289

290

1

1.77

WDGC251

438379.4

6665508

141.571

300.07

174.60

-41.39

130.95

131.35

0.4

1.65

and

153

154

1

1.92

and

182.45

189.95

7.5

1.62

and

228

229

1

1.51

and

236.5

242

5.5

2.68

and

253.1

255

1.9

6.56

and

260.95

262.4

1.45

4.39

and

271

284

13

1.76

Page 17 of 64

WHIRLING DERVISH NOVEMBER 2019

Downhole

Hole

Easting

Northing

RL

Depth

Azimuth

Dip

From (m) To (m)

Width (m)

Grade g/t

WDGC252

438379.5

6665508

141.676

315.6

163.10

-38.76

149.3

150

0.7

2.22

and

228.8

236

7.2

1.83

and

238

238.4

0.4

1.81

and

281

314

33

1.73

WDGC253

438378.7

6665508

141.904

296.8

180.10

-28.70

121

122

1

7.55

and

139

140

1

1.55

and

163.35

163.8

0.45

2.36

and

236.87

248.55

11.68

2.42

and

254

256.7

2.7

3.28

and

284.35

285.15

0.8

12.00

WDGC254

438378.5

6665508

141.924

279

187.00

-30.91

143

144.08

1.08

2.16

and

219

221

2

3.43

and

229.75

255.8

26.05

3.51

WDGC256

438378.6

6665508

141.694

261

199.40

-31.43

94

95

1

1.79

and

101.45

101.9

0.45

3.12

and

119

119.9

0.9

3.96

and

157.5

174.15

16.65

3.26

and

189.3

190

0.7

1.91

and

218

220.65

2.65

2.76

WDGC257

438379.4

6665508

141.253

266.7

201.90

-58.72

121.7

122.25

0.55

18.80

and

174.3

175.9

1.6

2.33

and

193

193.75

0.75

2.28

and

218.05

219.95

1.9

5.95

and

239.15

247.15

8

4.15

WDGC258

438379

6665509

141.174

258

210.00

-50.66

126.35

126.75

0.4

3.93

and

206

207

1

3.21

and

213.7

214

0.3

1.58

and

217.45

225.75

8.3

2.08

WDGC259

438334.9

6665534

140.295

273

193.90

-65.89

119.05

125.8

6.75

1.92

and

162.25

169.4

7.15

1.79

and

174.7

175.35

0.65

4.43

and

224.4

224.85

0.45

7.71

and

234.9

248.85

13.95

3.58

WDGC260

438334.5

6665533

140.661

221.6

204.00

-51.31

91.15

94

2.85

2.65

and

108.4

108.8

0.4

1.56

and

154

161

7

2.80

and

168

169

1

4.84

and

174.8

176

1.2

2.17

and

182

183

1

4.78

and

210.05

210.95

0.9

2.85

WDGC261

438334.6

6665533

140.634

252.41

198.90

-61.54

94.5

95

0.5

3.64

and

103

108

5

4.28

and

115.15

116.83

1.68

2.17

and

122

123

1

1.60

and

153.6

154.64

1.04

1.92

and

182.2

183

0.8

2.97

and

216.6

225

8.4

1.59

and

228.6

229.62

1.02

9.29

WDGC262

438334.6

6665533

140.871

243

201.40

-34.46

62

63

1

2.37

and

99.8

103

3.2

1.61

and

107

112.5

5.5

1.91

and

151

153.2

2.2

2.96

and

175.95

176.5

0.55

3.89

and

200.4

201

0.6

2.34

and

205.4

207

1.6

5.82

Page 18 of 64

WHIRLING DERVISH NOVEMBER 2019

Downhole

Hole

Easting

Northing

RL

Depth

Azimuth

Dip

From (m) To (m)

Width (m)

Grade g/t

WDGC263

438334.4

6665533

140.488

254.78

212.10

-68.38

117.45

122.85

5.4

3.07

and

164

166.65

2.65

1.68

and

167.5

168

0.5

2.07

and

224.75

230.8

6.05

1.54

and

236.2

239

2.8

12.59

WDGC264

438262.4

6665626

142.615

318

280.00

-20.86

91.4

91.8

0.4

4.27

and

144.7

145.25

0.55

1.61

and

149

149.75

0.75

1.78

and

150.35

150.7

0.35

1.68

and

158

159

1

4.64

and

164

166.1

2.1

2.13

and

294.5

294.8

0.3

1.53

WDGC265

438268.5

6665616

141.939

240.1

217.10

-52.67

106.5

108

1.5

4.15

and

138.37

139.23

0.86

2.47

and

143.65

147.25

3.6

2.38

and

209.45

211

1.55

2.86

and

216.55

222

5.45

4.52

WDGC266

438268.5

6665616

141.838

246

227.50

-57.24

143.15

143.5

0.35

2.82

and

212.6

219

6.4

2.13

and

224

224.5

0.5

1.60

and

227.15

228

0.85

2.02

WDGC267

438268.3

6665616

141.875

237

241.50

-54.37

210

220.2

10.2

7.89

WDGC268A

438268.6

6665616

141.87

281.7

196.20

-59.90

119.19

121.4

2.21

2.38

and

230.8

232

1.2

6.61

and

239

240

1

1.63

WDGC269

438268.5

6665616

141.939

263.94

215.15

-68.02

124.44

125

0.56

2.32

and

230.92

244.8

13.88

1.83

and

251

252.5

1.5

3.56

WDGC270

438268.5

6665616

141.924

264

229.00

-65.41

117.4

118.55

1.15

4.30

and

221.85

231

9.15

1.54

and

238

247

9

2.29

WDGC271

438268.4

6665617

141.923

258

243.10

-64.20

136

137

1

3.32

and

222.7

243

20.3

4.64

WDGC272

438268.3

6665617

141.916

254.9

253.00

-62.52

113.35

113.95

0.6

8.12

and

220.35

241.05

20.7

4.52

WDGC273

438263.9

6665622

142.63

216.15

239.80

-38.25

88.5

92.1

3.6

3.42

and

103.6

104.65

1.05

9.48

and

128.3

131.1

2.8

9.45

and

136.4

140.5

4.1

4.95

and

201.45

208.35

6.9

4.24

WDGC274

438264.2

6665621

142.089

222

239.50

-46.60

92.65

94.1

1.45

2.23

and

145

146

1

2.01

and

203.45

213.95

10.5

4.35

WDGC275

438261.8

6665626

142.753

339

282.90

-17.20

125

129

4

4.18

and

133.3

134

0.7

2.76

and

136.7

143

6.3

1.75

and

145

147

2

1.79

and

162.45

163.65

1.2

1.77

and

165.37

165.8

0.43

3.48

and

324.75

332

7.25

3.29

WDGC276

438262.3

6665627

141.987

255

270.60

-49.22

53

54

1

1.76

and

119.3

123

3.7

1.77

WDGC277

438261.8

6665626

142.468

311.7

279.60

-22.30

112

112.55

0.55

5.11

and

126.65

128.35

1.7

10.04

and

137

143.55

6.55

6.78

and

157

159

2

3.29

and

288.83

289.2

0.37

1.64

and

295

295.95

0.95

5.13

Page 19 of 64

WHIRLING DERVISH NOVEMBER 2019

Downhole

Hole

Easting

Northing

RL

Depth

Azimuth

Dip

From (m) To (m)

Width (m)

Grade g/t

WDGC278

438268.2

6665617

142.003

237

217.20

-45.36

101

103.05

2.05

1.99

and

121.95

122.3

0.35

12.60

and

130

131

1

2.74

and

136

139.3

3.3

4.41

and

209.2

212

2.8

1.91

and

217

218.2

1.2

2.03

WDGC279

438304.1

6665582

141.381

237

213.80

-50.33

147.95

152

4.05

1.96

and

193.55

194

0.45

3.88

and

211.4

212.1

0.7

3.08

WDGC280

438304.1

6665582

141.187

249

211.40

-60.02

117

118.7

1.7

1.64

and

165.95

166.35

0.4

3.51

and

208.7

209.2

0.5

1.89

and

226

236.8

10.8

2.92

and

239

240

1

2.56

WDGC281

438304.4

6665582

141.142

237

205.30

-49.10

112.55

112.9

0.35

1.78

and

143

144.12

1.12

1.70

and

188.85

190

1.15

3.25

and

193.8

194.25

0.45

2.86

and

214.95

217.97

3.02

2.51

WDGC282

438304.6

6665582

141.147

267

199.40

-59.53

122

123

1

2.64

and

164.5

167.07

2.57

3.08

and

201.2

203

1.8

5.97

and

215

215.97

0.97

2.00

and

227.97

236

8.03

2.74

WDGC283

438379.4

6665508

141.721

275.65

186.60

-34.01

223.25

223.55

0.3

8.51

and

230.2

245

14.8

2.30

and

253.15

254.5

1.35

1.70

and

255.4

255.9

0.5

1.82

WDGC284

438334.4

6665533

140.404

195.05

222.30

-48.92

101.8

102.85

1.05

4.87

and

135.3

138.3

3

1.76

WDGC285

438334.5

6665533

140.654

179.9

210.70

-51.00

60.6

61.15

0.55

3.88

and

69.5

70.15

0.65

2.68

and

104.55

106.6

2.05

3.09

and

138.8

139.15

0.35

1.83

and

149

149.95

0.95

2.07

and

168

168.85

0.85

1.77

WDGC286

438304.5

6665582

141.295

261

188.80

-53.17

124.35

124.65

0.3

2.45

and

164

164.7

0.7

1.97

and

167

168.5

1.5

1.92

and

193.8

198.2

4.4

7.35

and

217.75

218.3

0.55

5.88

and

228

228.35

0.35

2.13

and

233.8

237.1

3.3

3.74

WDGC287

438261.7

6665626

142.805

212.7

278.50

-12.41

116.8

140

23.2

2.18

and

160

165.4

5.4

1.89

and

169

170

1

1.61

WDGC289

438260.8

6665625

142.35

333

278.30

-19.97

140.6

140.95

0.35

5.42

and

144.25

146.7

2.45

1.67

and

154

155

1

8.92

and

280

284.88

4.88

5.21

and

292

293.27

1.27

2.03

WDGC290

438260.9

6665625

142.349

330

282.50

-20.84

140.2

141.5

1.3

2.15

and

147.77

151.75

3.98

1.73

and

154.8

157

2.2

2.94

and

161

169.75

8.75

1.59

and

302.55

306.6

4.05

2.25

Page 20 of 64

WHIRLING DERVISH NOVEMBER 2019

Downhole

Hole

Easting Northing RL

Depth

Azimuth Dip

From (m) To (m)

Width (m)

Grade g/t

WDGC291

438261.6

6665626

142.427

339

285.40

-21.81

70.35

71

0.65

2.20

and

154.8

155.7

0.9

6.98

and

161

162

1

1.80

and

170

171

1

3.55

and

310.4

310.7

0.3

1.93

and

311.5

312.45

0.95

1.51

and

315

315.65

0.65

2.11

and

318

319.25

1.25

2.93

WDGC292A

438261.6

6665626

142.562

351

291.30

-24.42

73

74

1

3.67

and

154.55

175

20.45

2.65

and

325.7

327.15

1.45

3.85

and

332.9

333.5

0.6

1.51

and

338

338.85

0.85

2.24

WDGC293

438260.9

6665625

142.349

330

285.70

-24.82

149.1

149.45

0.35

3.07

and

156

164.45

8.45

2.14

and

179

180

1

2.26

and

297.1

297.75

0.65

2.42

and

305.1

306

0.9

43.70

WDGC294

438261.6

6665626

142.52

162

287.30

-29.05

146

146.9

0.9

2.94

WDGC295

438261.4

6665625

142.318

327

289.20

-27.21

149.8

151.5

1.7

2.48

and

162.3

163

0.7

3.08

and

305.1

308.25

3.15

2.53

WDGC297

438261.5

6665626

142.44

335.8

291.50

-31.35

113.9

114.4

0.5

1.57

and

154

155.95

1.95

2.58

and

304.35

305

0.65

1.54

and

318.25

319.13

0.88

6.15

WDGC298

438334.7

6665533

140.635

258

188.30

-52.61

92.6

105

12.4

1.62

and

111.85

117

5.15

5.29

and

154.9

156.35

1.45

3.09

and

215.25

217

1.75

2.69

and

226.25

232

5.75

4.48

WDGC299

438382.1

6665507

141.577

374.6

158.90

-33.60

318.05

334.6

16.55

2.64

WDGC300

438382

6665507

141.672

363

156.10

-42.90 results pending

WDGC301

438381.8

6665507

141.237

317

162.11

-45.28 results pending

WDGC302

438381.8

6665507

141.237

341.9

164.12

-49.93 results pending

WDGC304

438272

6665620

141.931

192.12

94.80

-88.56

179.9

180.6

0.7

1.95

WDGC305

438272

6665620

141.937

288.05

40.50

-83.36

190

192.25

2.25

7.44

WDGC306

438264

6665627

142.079

197.9

328.90

-79.65

172.5

173.2

0.7

3.53

WDGC307

438263.9

6665627

142.068

201

322.90

-74.31

176

178.07

2.07

2.46

WDGC308

438264

6665627

142.073

231

357.35

-79.44

188.75

189.7

0.95

1.85

Table 3 - Thunderbox Drill Results

THUNDERBOX DRILLING NOVEMBER 2019

Downhole

Hole

Easting

Northing

RL

Depth

Azimuth

Dip

From (m) To (m)

Width (m)

Grade g/t

TBRC125

304134.6

6880735

2498.574

160 88.12

-60.93

67

68

1

1.49

and

82

83

1

2.26

and

90

143

53

1.49

TBRC126

304159.3

6880730

2498.772

148 90

-60

0

1

1

2.19

and

34

35

1

2.62

and

61

62

1

1.41

and

63

64

1

1.34

and

69

84

15

1.47

TBRC127

304127

6880690

2498.411

202 90.98

-60.22

79

165

86

1.72

TBRC128

304153.1

6880690

2498.19

160 90

-60

results pending

TBRC129

304090

6880980

2500

142 91.86

-75.17

results pending

TBRC130

304120

6880980

2500

76 89.82

-59.78

results pending

TBRC131

304160

6880980

2500

100 89.82

-60.66

results pending

TBRC132

304160

6881000

2500

106 86.96

-60.11

results pending

TBRC133

304100

6881020

2502

88 90

-60

results pending

TBRC134

304200

6881020

2502

64 90

-60

37

38

1

1.16

and

41

42

1

1.03

Page 21 of 64

THUNDERBOX DRILLING NOVEMBER 2019

Downhole

Hole

Easting

Northing

RL

Depth

Azimuth

Dip

From (m) To (m)

Width (m)

Grade g/t

TBRC096

304240

6880660

2499

124 91.49

-59.94

results pending

TBRC097

304260

6880660

2499

82 90

-60

results pending

TBRC099

304258

6880700

2499

70 90.87

-60.91

results pending

TBRC100

304220

6880740

2499

118 90

-60

82

88

6

1.67

TBRC101

304240

6880740

2499

88 90.73

-61.02

2

3

1

1.12

and

8

10

2

1.06

and

20

21

1

1.13

and

64

73

9

1.45

TBRC102

304260

6880740

2499

52 90

-60

35

40

5

2.42

TBRC103

304200

6880820

2499

118 88.48

-65.62

24

48

24

1.52

and

93

94

1

2.51

and

108

114

6

1.30

TBRC104

304220

6880820

2499

94 89.48

-61

63

67

4

0.94

TBRC105

304180

6880860

2500

124

89.4

-61.15

7

12

5

2.27

and

67

68

1

3.63

TBRC106

304200

6880860

2500

100 91.38

-60.92

28

29

1

3.83

and

52

53

1

1.03

and

62

67

5

3.41

and

81

83

2

1.21

and

98

100

2

1.50

TBRC107

304220

6880860

2500

70 92

-61.27

50

64

14

1.82

TBRC108

304180

6880900

2500

106 92.37

-60.35

27

28

1

2.31

and

52

55

3

1.58

and

101

102

1

1.05

and

105

106

1

1.32

TBRC109

304200

6880900

2500

82 90.05

-60.81

55

58

3

1.64

and

65

66

1

1.00

TBRC110

304220

6880900

2500

52 90

-60

31

34

3

1.07

and

37

38

1

1.20

TBRC111

304070

6880940

2501

148 95.16

-60.86

114

115

1

1.94

and

121

122

1

1.74

TBRC112

304180

6880940

2500

82 90

-60

TBRC113

304200

6880940

2500

58 90

-60

no significant results

TBRC114

304080

6880980

2500

112 91.95

-65.22

results pending

TBRC115

304160

6881020

2502

106 92.74

-60.68

no significant results

TBRC116

304100

6881040

2502

64 90

-60

no significant results

TBRC117

304060

6881080

2502

112 90

-60

results pending

TBRC118

304100

6881080

2502

64 91.96

-60.57

no significant results

TBRC119

304140

6881080

2502

142 90

-60

no significant results

TBRC120

304180

6881080

2502

82 90

-60

66

69

3

1.19

TBRC121

304108.8

6880925

2501.333

106 90

-60

56

86

30

2.07

TBRC122

304112.3

6880890

2500.741

124 89.36

-60.9

54

94

40

1.79

and

100

101

1

2.43

TBRC123

304125.7

6880810

2499.67

130 90

-60

62

63

1

9.66

and

70

90

20

1.57

and

99

100

1

7.38

and

107

112

5

2.86

and

122

123

1

1.41

TBRC124

304123.8

6880780

2499.163

148 89.08

-61.24

68

69

1

1.45

and

89

142

53

1.08

Page 22 of 64

THUNDERBOX UNDERGROUND DRILLING NOVEMBER 2019

Downhole

Hole

Easting

Northing

RL

Depth

Azimuth

Dip

From (m) To (m)

Width (m)

Grade g/t

THGC133

304238.4

6879183

253.407

240.87

95.4

-32.19

124

125.04

1.04

6.50

and

136

137

1

2.63

and

218.36

222.3

3.94

3.64

THGC134

304219.7

6879254

252.203

233.92

94.1

-25.24

109.86

114.6

4.74

1.53

and

207.73

215.77

8.04

3.27

THGC135

304219.7

6879254

252.221

224.66

81.1

-28.25

107.4

114.9

7.5

1.34

and

188.54

189

0.46

6.40

and

200

217.75

17.75

2.62

THGC136

304219.6

6879254

252.051

229.9

77.7

-36.32

111.6

112.18

0.58

2.63

and

123.5

124

0.5

7.14

and

203

227.24

24.24

2.55

THGC137

304204.8

6879310

250.879

238.01

67.1

-34.29

110

110.45

0.45

4.24

and

194.62

215.67

21.05

2.05

and

223

225.8

2.8

2.12

THGC138

304183.8

6879388

250.674

243.1

74.1

-35.88

98.15

99

0.85

2.59

and

193

213.65

20.65

2.05

THGC139

304183.7

6879388

250.668

245.92

62.9

-35.77

94.76

95.1

0.34

4.01

and

194.78

206

11.22

1.84

and

212

212.8

0.8

25.60

THGC140

304169.8

6879438

251.715

243

55.8

-32.95

180.66

181.12

0.46

3.61

and

188.55

215.07

26.52

1.40

and

227.1

228.1

1

5.53

THGC141

304169.8

6879438

251.681

231

70.1

-29.85

93

93.8

0.8

2.20

and

184

192.5

8.5

2.89

and

217

217.7

0.7

2.47

THGC142

304169.8

6879439

251.703

248.82

52.8

-27.06

92.5

95

2.5

1.68

and

184.7

196.25

11.55

1.74

and

205.32

206

0.68

2.00

and

212.92

214

1.08

6.32

and

237

239.1

2.1

2.21

THGC143

304239.1

6879181

253.347

244.99

81.4

-40.75

219

230

11

2.91

THGC144

304239.3

6879180

253.364

248.8

103.1

-37.95

132

133.8

1.8

6.12

and

229.2

240

10.8

1.76

THGC145

304239.2

6879181

253.335

248.7

73.3

-46.10

125.6

132.9

7.3

1.79

and

226.45

239.2

12.75

1.45

THGC146

304239.3

6879180

253.254

270.1

111.6

-40.55

141

142

1

2.72

and

254.28

255.03

0.75

2.58

THGC147

304169.9

6879437

252.131

353.2

25.8

-38.29

254.88

344

89.12

2.02

incl

266

333.71

67.71

2.29

THGC148

304169.9

6879437

252.131

321.01

31.6

-36.11

118.75

119.2

0.45

2.61

and

241

315

74

1.67

THGC149

304169.9

6879437

252.131

272.95

48.7

-40.49

85

85.75

0.75

2.20

and

201.7

202

0.3

4.99

and

204.85

261.3

56.45

1.85

THGC150

304169.9

6879437

252.131

317.87

43.5

-45.14

109

109.95

0.95

2.52

and

220

292

72

2.35

and

301.4

302

0.6

2.16

Page 23 of 64

THUNDERBOX UNDERGROUND DRILLING NOVEMBER 2019

Downhole

Hole

Easting

Northing

RL

Depth

Azimuth

Dip

From (m) To (m)

Width (m)

Grade g/t

THGC151

304169.9

6879437

252.131

255

63.5

-41.35

197

236

39

1.41

THGC152

304169.9

6879437

252.131

276.04

68.3

-47.00

95

96

1

8.31

and

207

252.45

45.45

2.38

THGC153

304183.4

6879389

250.326

264.23

65.8

-41.97

182.97

183.9

0.93

5.81

and

202.13

220

17.87

1.91

THGC154

304183.4

6879389

250.48

282

65.4

-50.37

225

229.79

4.79

1.36

and

240

246.41

6.41

1.67

THGC155

304183.4

6879389

250.47

267.13

78.3

-48.85

110

111

1

2.49

and

214

227

13

2.10

247.2

248.16

0.96

2.27

THGC156

304183.5

6879389

250.506

269.95

95.7

-46.99

242.95

244.65

1.7

3.16

and

256

258

2

2.68

THGC157

304204.7

6879310

251.048

270

76.1

-48.98

208.46

209.27

0.81

4.05

and

229

232

3

2.80

and

255.75

259

3.25

1.87

THGC158

304229.6

6879256

252.46

264.75

74.7

-49.32

217.87

218.33

0.46

2.43

and

224

224.3

0.3

3.94

THGC159

304230.6

6879256

253.164

128.85

85.7

-10.01

no significant results

THGC160

304230.7

6879256

253.146

134.78

98.2

-8.38

102

108.35

6.35

1.73

THGC161

304230.4

6879256

253.131

149.92

107.3

-7.61

113.12

115.6

2.48

2.26

and

121

122

1

2.88

THGC162

304230.5

6879257

253.044

113.23

82.2

-23.45

95

95.52

0.52

2.07

THGC163

304230.4

6879256

253.069

127.15

100.3

-21.28

117

118

1

3.40

THGC164

304230.4

6879256

253.069

146.98

111

-18.99

116.3

119.15

2.85

18.25

THGC165

304236.4

6879359

255.723

78.31

65.9

-18.46

no significant results

THGC166

304236.5

6879358

255.865

79.78

86

-17.97

63.85

64.79

0.94

7.59

THGC167

304236.4

6879359

254.959

82.8

87

-42.99

67

70

3

3.66

THGC189

304418.6

6879208

149.071

14.92

78

45.00

0

11

11

3.16

THGC190

304418.6

6879208

149.076

15.02

78

0.00

0

5

5

3.22

THGC191

304418.4

6879208

147.86

14.58

78

-45.00

0

4

4

4.05

THGC192

304419.9

6879197

149.306

14.87

78

45.00

3

10.55

7.55

2.62

THGC193

304419.9

6879197

149.194

15.01

78

0.00

0

5.5

5.5

3.76

THGC194

304419.7

6879197

147.924

15

78

-45.00

0

5.1

5.1

2.47

THGC195

304420.1

6879196

149.181

14.82

135

0.00

1.1

10.8

9.7

2.28

THRD043

304239.4

6879179

254.351

278.05

107.3

-3.75

236.88

242.3

5.42

2.23

THRD044

304239.3

6879179

254.485

279

114.5

-3.07

262.9

265.26

2.36

3.15

and

272

273

1

2.18

THRD045

304239.4

6879180

254.453

270

112.7

-8.66

242.09

247.03

4.94

4.25

THRD046A

304239.3

6879180

254.133

243

106.6

-16.36

228.8

232

3.2

3.07

THRD047

304239.4

6879179

254.145

255.1

113.9

-14.80

139

139.7

0.7

2.37

and

240.57

243.25

2.68

3.70

THRD048

304239.4

6879179

254.065

288.4

120.8

-13.31

178

179

1

9.17

and

259

261.13

2.13

2.42

THRD049

304239.4

6879180

253.868

249.35

112.3

-22.53

145.7

146.41

0.71

3.41

and

225.62

227.36

1.74

3.36

THRD050

304239.3

6879179

253.857

309

125.8

-19.95

289.47

292.5

3.03

2.05

THRD051

304239.2

6879179

253.859

280

119.6

-20.29

172

173

1

6.38

and

260.78

261.82

1.04

2.76

THRD052

304239.2

6879179

253.794

267.36

113.5

-28.21

240.8

243

2.2

3.42

and

261

262

1

2.65

THRD053

304239.4

6879180

253.819

291.7

120.4

-24.98

264.08

266.1

2.02

3.18

Page 24 of 64

THUNDERBOX UNDERGROUND DRILLING NOVEMBER 2019

Downhole

Hole

Easting

Northing

RL

Depth

Azimuth

Dip

From (m) To (m)

Width (m)

Grade g/t

THRD054

304239.2

6879179

254.918

273

107.8

2.12

256.6

260

3.4

2.87

THRD055

304239.2

6879179

254.98

296.98

114.8

1.64

184

185

1

3.87

and

267.4

268

0.6

2.09

and

280

283.9

3.9

2.78

THRD056

304239.2

6879179

254.777

294.01

119.6

-8.53

176

176.6

0.6

2.00

and

191

195.4

4.4

4.36

and

276

277

1

2.11

and

278.8

281

2.2

2.46

THRD057

304239

6879179

254.193

363.07

131.4

-11.00

350.7

353.6

2.9

3.07

THRD058

304239

6879179

254.442

381.73

130

-6.09

no significant results

THRD059

304239.1

6879179

254.431

305.17

124.5

-12.20

175.5

176.4

0.9

3.48

and

291

295.87

4.87

2.77

THRD060

304239.2

6879179

254.664

321.36

120

0.34

194.52

195.5

0.98

2.44

and

204

205

1

4.74

and

292.07

293

0.93

2.48

THRD061

304239.1

6879179

253.886

264.13

111.7

-21.52

237.62

239.96

2.34

3.39

THRD062

304239.2

6879179

254.958

309.43

113.1

6.02

184.9

185.3

0.4

4.93

and

192

193

1

4.18

and

267

268

1

3.86

and

279

280

1

3.71

THRD063

304239.2

6879179

255.045

270.2

105.9

6.80

245

245.5

0.5

2.89

and

260.59

261.3

0.71

2.21

THRD064

304238.7

6879181

254.561

265.5

99

7.23

231.68

232.08

0.4

25.20

and

238.73

239.3

0.57

3.47

and

244

246.4

2.4

3.28

THRD065

304238.7

6879181

254.561

272.11

103.3

1.80

232.22

233

0.78

2.19

and

245.4

248

2.6

3.27

Page 25 of 64

Table 4 - Otto Bore Drill Results

OTTO BORE DRILLING NOVEMBER 2019

Downhole

Hole

Easting

Northing

RL

Depth

Azimuth

Dip

From (m) To (m)

Width (m)

Grade g/t

OBRC0088

304919.2

6889315

487.569

142 94.23

-59.73

66

82

16

6.12

OBRC0089

304890.4

6889298

487.77

160 90.34

-60.52

99

112

13

7.80

and

116

117

1

1.78

and

124

138

14

1.75

OBRC0090

304829.6

6889254

488.124

220 88.75

-59.65

76

77

1

1.39

OBRC0091

304861.6

6889252

488.062

202 89.15

-60.89

174

175

1

1.41

OBRC0092

304902.7

6889248

487.811

160 90

-60

97

98

1

2.51

and

101

102

1

2.49

OBRC0093

304844.4

6889220

488.083

216 89.07

-60.43

159

161

2

11.62

and

168

172

4

1.52

OBRC0094

304870.6

6889225

487.859

190 86.23

-60.36

135

140

5

2.89

OBRC0095

304913.1

6889215

487.71

154 85.78

-60.25

92

93

1

3.19

and

97

98

1

3.72

OBRC0096

304933.7

6889225

487.688

130 90.33

-60.1

60

61

1

1.16

and

63

64

1

1.12

and

68

76

8

27.22

OBRC0097

304863.6

6889189

488

190 90

-60

and

145

148

3

3.65

and

153

154

1

1.01

and

157

159

2

1.50

OBRC0098

304889.9

6889199

487.926

166 90

-60

126

134

8

1.03

OBRC0099

304939.6

6889200

487.647

124 86.58

-60.23

59

60

1

1.73

and

64

69

5

1.22

and

100

101

1

1.07

OBRC0100

304880.3

6889176

488.099

184 87.7

-60.56

138

140

2

2.31

and

146

147

1

1.29

OBRC0101

304846.5

6889160

488.343

214 89.49

-60.11

169

174

5

4.28

OBRC0102

304910.3

6889154

487.879

160 91.17

-60.24

110

111

1

1.43

and

116

119

3

1.48

OBRC0103

304866.5

6889137

488.259

184 93.17

-59.71

148

149

1

3.57

and

154

161

7

4.16

and

178

179

1

3.00

OBRC0104

304890.2

6889140

488.079

184 90

-60

138

144

6

1.30

OBRC0105

304928.1

6889139

487.832

202 90.06

-60.11

73

74

1

1.90

and

85

87

2

1.58

and

91

92

1

3.30

and

116

117

1

1.46

and

128

129

1

2.25

OBRC0106

304854.6

6889120

488.247

220 90

-60

168

173

5

11.64

OBRC0107

304881.8

6889121

488.149

220 90.31

-60.48

139

140

1

2.57

and

145

146

1

1.87

and

149

152

3

1.83

OBRC0108

304939.4

6889118

487.79

154 88.7

-59.83

83

89

6

1.95

OBRC0109

304920

6889098

487.888

190 92.32

-59.88

101

102

1

3.07

and

119

121

2

1.69

OBRC0110

304860.8

6889079

488.305

220 90

-60

no significant intercepts

OBRC0111

304881

6889053

488.134

202 89.42

-60.73

148

156

8

1.58

OBRC0112

304911.8

6889053

487.939

172 90

-60

91

92

1

1.67

121

122

1

2.98

136

137

1

1.26

152

153

1

2.46

OBRC0113

304860

6889035

488.38

220 90

-60

no significant intercepts

OBRC0114

304900.5

6889033

488.189

190 90

-60

134

137

3

1.35

and

149

150

1

1.23

OBRC0115

304879.8

6889015

488.3

214 88.87

-60.95

144

145

1

1.63

and

162

163

1

1.35

and

168

169

1

1.29

Page 26 of 64

OTTO BORE DRILLING NOVEMBER 2019

Downhole

Hole

Easting

Northing

RL

Depth

Azimuth

Dip

From (m) To (m)

Width (m)

Grade g/t

OBRC0116

304900.6

6889014

488.148

190 90

-60

117

118

1

1.03

and

136

137

1

1.37

and

139

140

1

1.37

OBRC0117

304943.5

6889009

487.831

154 87.73

-60.43

74

76

2

1.29

OBRC0118

304859.1

6888988

488.441

232 87.34

-60.49

183

185

2

1.61

and

195

196

1

1.25

OBRC0119

304892.5

6888973

488.299

214 90

-60

22

24

2

1.84

and

151

155

4

1.06

and

168

169

1

1.10

and

173

174

1

1.04

and

179

180

1

1.81

OBRC0120

304918.5

6888974

488.265

184 91.03

-60.73

119

128

9

7.30

and

144

145

1

2.95

and

161

163

2

1.39

and

174

175

1

1.22

OBRC0121

304951.2

6888973

488.058

148 94.57

-60.59

99

100

1

5.67

and

104

106

2

1.88

OBRC0122

304882.6

6888955

488.528

226 90

-60

165

170

5

2.58

and

187

188

1

4.10

OBRC0123

304872.1

6888934

488.626

244 86.95

-59.93

176

182

6

7.06

and

193

195

2

1.28

OBRC0124

304901.2

6888933

488.552

208 90

-60

146

147

1

1.12

and

175

176

1

2.25

OBRC0125

305014

6888940

487.889

94 87.54

-61.3

4

5

1

1.11

and

32

36

4

2.53

OBRC0126

304892.2

6888912

488.601

220 94.06

-60.2

157

160

3

2.85

OBRC0127

304891.7

6888878

488.526

220 90

-60

183

184

1

2.24

and

189

190

1

1.37

OBRC0128

304943.5

6888885

488.321

184 90

-60

123

124

1

1.22

and

128

132

4

6.71

OBRC0129

305026

6888880

487.901

100 84.23

-61.06

31

33

2

5.64

and

37

38

1

5.80

and

47

48

1

1.11

OBRC0130

304881.1

6888854

488.636

232 86.44

-61.01

56

57

1

2.26

and

174

179

5

1.81

OBRC0131

304911.1

6888854

488.539

190 95.57

-60.12

137

139

2

1.54

and

176

177

1

5.56

OBRC0132

304990

6888860

488.1

118 90

-60

results pending

OBRC0133

304903.5

6888835

488.618

214 89.74

-60.97

152

153

1

2.80

and

159

162

3

2.31

and

165

166

1

1.29

OBRC0134

304882.9

6888809

488.696

232 90

-60

no significant intercepts

OBRC0135

304919.8

6888809

488.572

196 85.99

-59.87

139

140

1

1.89

and

154

155

1

6.01

and

174

175

1

1.31

and

178

180

2

1.34

OBRC0136

304910.9

6888790

488.598

214 83.6

-60.77

151

153

2

2.33

and

157

163

6

1.61

OBRC0137

304951.9

6888789

488.421

184 96.29

-59.91

135

142

7

5.62

and

157

161

4

5.16

Page 27 of 64

Table 5 - Atbara Drill Results

ATBARA DRILLING NOVEMBER 2019

Downhole

Hole

Easting

Northing RL

Depth

Azimuth

Dip

From (m) To (m)

Width (m)

Grade g/t

ATEX025

437366

6668084

350

378.9

235

-60

55.3

62.2

6.9

2.11

and

94.5

98.6

4.1

0.52

and

102.5

104.5

2

3.66

and

158

159

1

0.86

ATEX027

437497.9

6668176

350

547

234.67

-60

140

142

2

2.01

and

171

172

1

2.41

and

190

192

2

0.78

and

198

199

1

0.62

and

208

330

122

1.05

and

383

387

4

0.78

and

414

421.66

7.66

2.62

and

427

428

1

1.37

and

435

436

1

2.54

and

455

457

2

1.62

and

469

471

2

0.75

and

482

483.19

1.19

0.65

and

494

496

2

1.04

and

501.1

510.62

9.52

1.06

ATEX035

437293.1

6668568

345

853

235

-70

168

177

9

0.55

and

200.55

290

89.45

1.09

and

308

309

1

2.58

and

315

325

10

1.04

and

335

336.35

1.35

0.86

and

429

432.5

3.5

0.61

and

470

488.72

18.72

3.03

and

516

520

4

1.43

and

628

629

1

0.65

ATEX036

437009.5

6668169

345

545.8

235

-60 results pending

ATEX037

437408

6668407

345

805

235

-65 results pending

ATEX042

437233

6668910

350

712

235

-65 results pending

ATEX043

437300

6668698

350

480.8

235

-70

357.3

360.1

2.8

2.23

and

372

373

1

1.77

and

438

451.1

13.1

1.52

and

460.2

463.8

3.6

0.80

ATEX044

437003

6668337

350

430

233

-70

39.65

43

3.35

0.71

and

47

48

1

1.37

and

144

145

1

1.69

ATEX045

437847.3

6667835

350

550

236.67

-65

449.13

452.93

3.8

2.67

ATEX046

437715.8

6667744

350

573.5

235

-65

229

231

2

1.52

and

241

242

1

1.23

and

252

253

1

1.94

ATEX049

437615.4

6668062

350

250

235.61

-64.74 no significant results

ATEX050

437483.9

6667971

350

250

235

-65

100

104

4

0.50

ATEX051

437346.8

6667873

350

334

236.65

-64.83

196

200

4

0.53

and

224

236

12

1.09

and

268

272

4

0.50

ATEX053

437382

6667314

350

406

234.67

-65

56

59

3

1.91

and

171.58

174

2.42

1.55

and

226

227

1

0.56

and

272

273

1

0.77

Page 28 of 64

ATBARA DRILLING NOVEMBER 2019

Downhole

Hole

Easting

Northing

RL

Depth

Azimuth

Dip

From (m) To (m)

Width (m)

Grade g/t

ATEX054

437513.1

6667406

350

424

235

-65

242

263

21

0.56

and

270

271

1

0.52

and

273

275

2

0.64

and

390

391

1

1.76

and

396.8

405.2

8.4

0.82

ATEX055

437644.2

6667497

350

454.2

235

-65

258.12

260.5

2.38

0.52

ATEX056

437558.9

6667828

350

415

235

-65

132

133

1

0.56

and

189

192

3

0.81

and

250

251

1

1.00

ATEX057

437427.8

6667737

350

405.1

235

-65

173

174

1

1.10

and

240

241

1

0.52

and

243

244

1

1.62

and

260.7

279

18.3

0.65

ATEX058

437270

6667650

350

406

234.67

-65

206

211

5

2.68

and

276

284

8

3.78

and

306

318

12

0.68

ATEX059

437385

6668485

350

1404.7

200

-81.5

589.78

591

1.22

1.60

and

647.48

649

1.52

1.46

and

691.12

695.04

3.92

1.89

and

710

711.41

1.41

0.88

and

717.57

719.19

1.62

1.05

and

732

733.03

1.03

0.57

and

741.06

743.1

2.04

0.75

and

748.09

757

8.91

1.71

and

770.65

773.6

2.95

1.48

and

780.9

786.69

5.79

0.98

and

801

802

1

0.85

and

811

812

1

7.16

and

838.71

840.98

2.27

0.95

and

850.11

853.24

3.13

1.54

and

1169.35

1170.61

1.26

1.84

and

1225.95

1235

9.05

0.83

ATEX061

436996

6668802

347.75

290

240.1

-54.57

30

37

7

0.73

and

52

53

1

0.57

and

71

74

3

0.63

and

148

149

1

0.66

and

178

179

1

0.80

and

188

217

29

0.88

ATEX068

437097

6668607

348.3

298

235.11

-60.51

44

46

2

0.93

and

85

86

1

0.64

and

90

91

1

0.67

and

100

101

1

0.84

and

128

129

1

0.51

and

160

161

1

0.59

and

201

202

1

2.04

and

210

215

5

0.87

and

227

229

2

0.57

and

251

257

6

4.27

ATEX075

437132.7

6668494

347.682

334

234.74

-60.86

71

73

2

0.58

and

116

117

1

0.63

and

152

153

1

0.72

and

157

158

1

0.64

and

169

170

1

0.83

and

183

185

2

1.26

and

200

249

49

1.13

and

254

255

1

0.63

and

261

262

1

0.66

and

264

265

1

0.94

and

305

306

1

0.77

Page 29 of 64

ATBARA DRILLING NOVEMBER 2019

Downhole

Hole

Easting

Northing

RL

Depth

Azimuth

Dip

From (m) To (m)

Width (m)

Grade g/t

ATEX076

437227.1

6668546

346.544

400

231.27

-64.63

47

48

1

2.17

and

56

57

1

0.57

and

68

69

1

1.04

and

99

100

1

0.67

and

154

155

1

1.59

and

163

165

2

4.31

and

173

174

1

0.54

and

181

186

5

0.54

and

192

194

2

7.62

and

201

202

1

0.50

and

203

204

1

0.50

and

208

209

1

1.74

ATEX079

437306.5

6668515

346.036

318

235

-55

104

130

26

1.47

and

136

143

7

1.35

and

162

167

5

1.15

and

173

174

1

0.53

and

197

198

1

0.64

and

210

232

22

1.22

and

238

239

1

0.71

and

244

245

1

1.07

and

282

283

1

0.53

and

291

292

1

0.56

and

298

299

1

1.57

and

312

318

6

2.46

ATEX082

437203.7

6668387

347.586

322

235.22

-60.44

85

86

1

1.11

and

123

134

11

0.91

and

140

143

3

0.58

and

146

147

1

0.60

and

174

175

1

0.61

and

180

181

1

0.65

and

274

283

9

0.71

and

290

292

2

0.71

and

297

298

1

0.60

ATEX085

437337.6

6668385

347.05

232

234.42

-59.84

112

116

4

0.74

and

148

150

2

1.38

and

163

165

2

0.55

and

170

171

1

0.66

and

178

192

14

1.11

and

201

206

5

0.84

and

213

216

3

2.68

and

221

222

1

14.79

and

228

229

1

0.56

Page 30 of 64

Table 6 - Mt Celia Drill Results

MT CELIA DRILLING NOVEMBER 2019

Downhole

Hole

Easting

Northing

RL

Depth

Azimuth

Dip

From (m) To (m)

Width (m)

Grade ppb

MCAC0951

451900

6722052

358

110

0

-90

60

64

4

37.9

MCAC0974

454197

6722077

360

98

0

-90

92

98

6

45.1

MCAC0975

454300

6722059

360

112

0

-90

80

84

4

46.1

MCAC0977

454504

6722046

360

87

0

-90

84

87

3

31.4

MCAC0981

452003

6721139

360

108

0

-90

60

64

4

33.2

and

92

96

4

30.4

MCAC0982

452101

6721147

360

114

0

-90

84

88

4

27.9

and

112

114

2

24.1

MCAC0983

452199

6721150

359

108

0

-90

56

60

4

25.7

and

76

80

4

26.2

and

100

108

8

87.5

MCAC0984

452302

6721145

360

119

0

-90

56

64

8

30.4

MCAC0989

452800

6721140

360

97

0

-90

72

76

4

21.1

MCAC0992

453099

6721157

365

96

0

-90

60

64

4

24.6

MCAC0993

453205

6721169

365

100

0

-90

80

84

4

27.6

MCAC0994

453139

6721152

365

108

0

-90

104

108

4

24.7

MCAC1003

454010

6721160

370

91

0

-90

84

88

4

65.5

MCAC1004

454103

6721142

370

91

0

-90

80

88

8

250.9

MCAC1012

452116

6720316

380

87

0

-90

52

56

4

41.0

MCAC1017

452611

6720318

380

105

0

-90

80

88

8

26.9

MCAC1023

453218

6720315

360

118

0

-90

60

64

4

34.5

MCAC1027

453614

6720322

360

98

0

-90

88

96

8

1639.6

MCAC1028

453714

6720316

360

101

0

-90

80

84

4

31.8

and

88

96

8

160.1

MCAC1030

453907

6720323

360

95

0

-90

16

20

4

56.8

MCAC1031

454010

6720321

360

109

0

-90

92

96

4

22.0

MCAC1048

453497

6719360

357

93

0

-90

80

84

4

52.3

MCAC1059

452398

6719346

359

95

0

-90

92

95

3

24.7

MCAC1070

451997

6718449

364

107

0

-90

64

68

4

49.4

and

104

107

3

56.1

MCAC1081

453102

6718442

381

91

0

-90

84

91

7

71.2

Page 31 of 64

Karari 2012 JORC Table 1 (Including KA Sth)

Section 1: Sampling Techniques and Data

Criteria

JORC Code Explanation

Commentary

Sampling Techniques

Nature and quality of sampling (e.g. cut channels, random chips,

Sampling methods undertaken by Saracen at Karari have included reverse circulation drillholes (RC), diamond drillholes (DD) and

or specific specialised industry standard measurement tools

RC grade control drilling within the pit, and diamond drilling and face chip sampling underground.

appropriate to the minerals under investigation, such as down hole

Historic sampling methods conducted since 1991 have included aircore (AC), rotary air blast (RAB), reverse circulation and

gamma sondes, or handheld XRF instruments, etc.). These

diamond drillholes.

examples should not be taken as limiting the broad meaning of

sampling.

Include reference to measures taken to ensure sample

Sampling for diamond and RC drilling and face chip sampling is carried out as specified within Saracen sampling and QAQC

representivity and the appropriate calibration of any measurement

procedures as per industry standard.

tools or systems used

RC chips and diamond core provide high quality representative samples for analysis.

RC, RAB, AC and DD core drilling was completed by previous holders to industry standard at that time (1991- 2004).

Aspects of the determination of mineralisation that are Material to

RC chips are cone or riffle split and sampled into 1m intervals, diamond core is NQ or HQ sized, sampled to 1m intervals or

the Public Report. In cases where 'industry standard' work has

geological boundaries where necessary and cut into half core and underground faces are chip sampled to geological boundaries

been done this would be relatively simple (e.g. 'reverse circulation

(0.2-1m). All methods are used to produce representative sample of less than 3 kg. Samples are selected to weigh less than 3 kg

drilling was used to obtain 1 m samples from which 3 kg was

to ensure total sample inclusion at the pulverisation stage.

pulverised to produce a 30 g charge for fire assay'). In other cases

Saracen core and chip samples are crushed, dried and pulverised to a nominal 90% passing 75µm to produce a 40g or 50 g sub

more explanation may be required, such as where there is coarse

sample for analysis by FA/AAS.

gold that has inherent sampling problems.

Some grade control RC chips were analysed in the Saracen on site laboratory using a PAL (pulverise and leach) method.

Unusual commodities or mineralisation types (e.g. submarine

Visible gold is sometimes encountered in underground drillcore and face samples.

nodules) may warrant disclosure of detailed information

Historical AC, RAB, RC and diamond sampling was carried out to industry standard at that time. Analysis methods include fire

assay and unspecified methods.

Drilling Techniques

Drill type (e.g. core, reverse circulation, open-hole hammer, rotary

The deposit was initially sampled by 11 AC holes, 452 RAB holes, 496 RC holes (assumed standard 5 ¼ ''bit size) and 25 surface

air blast, auger, Bangka, sonic, etc.) and details (e.g. core

unknown diameter diamond core holes.

diameter, triple or standard tube, depth of diamond tails, face-

Saracen has completed 14 surface RC precollars with HQ and NQ diamond tail drill holes (precollars averaging 287m, diamond

sampling bit or other type, whether core is oriented and if so, by

tails averaging 168m) , 76 RC holes from both surface and within the pit ( recent drilling utilised a 143mm diameter bit with a face

what method, etc.).

sampling hammer and an external auxiliary booster) and 3052 grade control RC holes within the pit. 786 NQ diamond holes have

been drilled underground. 2002 underground faces and walls have been chip sampled.

Diamond tails were oriented using an Ezi-mark tool.

Some historic surface diamond drill core appears to have been oriented by unknown methods.

Drill Sample Recovery

Method of recording and assessing core and chip sample

RC sampling recoveries are recorded in the database as a percentage based on a visual weight estimate; no historic recoveries

recoveries and results assessed

have been recorded.

Diamond core recovery percentages calculated from measured core versus drilled intervals are logged and recorded in the

database. Recoveries average >90%.

Measures taken to maximise sample recovery and ensure

RC drilling daily rig inspections are carried out to check splitter condition, general site and address general issues.

representative nature of the samples

Diamond core is reconstructed into continuous runs on an angle iron cradle for orientation marking. Depths are checked against

depth given on the core blocks.

UG faces are sampled from left to right across the face at the same height from the floor.

During GC campaigns the sample bags weight versus bulk reject weight are compared to ensure adequate and even sample

recovery.

Historical AC, RAB, RC and diamond drilling to industry standard at that time.

Whether a relationship exists between sample recovery and grade

There is no known relationship between sample recovery and grade for RC drilling.

and whether sample bias may have occurred due to preferential

Diamond drilling has high recoveries due to the competent nature of the ground meaning loss of material is minimal.

loss/gain of fine/coarse material.

Any historical relationship is not known.

Logging

Whether core and chip samples have been geologically and

Logging of RC chips and diamond drill core records lithology, mineralogy, texture, mineralisation, weathering, alteration and

geotechnically logged to a level of detail to support appropriate

veining.

Page 32 of 64

Section 1: Sampling Techniques and Data

Criteria

JORC Code Explanation

Commentary

Mineral Resource estimation, mining studies and metallurgical

Geotechnical and structural logging is carried out on all diamond holes to record recovery, RQD, defect number, type, fill material,

studies.

shape and roughness and alpha and beta angles.

Whether logging is qualitative or quantitative in nature.

All faces are photographed and mapped.

Core (or costean, channel, etc) photography.

Chips from all RC holes (exploration and GC) are stored in chip trays for future reference while remaining core is stored in core

trays and archived on site.

Core is photographed in both dry and wet state.

Qualitative and quantitative logging of historic data varies in its completeness.

The total length and percentage of the relevant

All RC and diamond drillholes holes are logged in full and all faces are mapped.

intersections logged

Every second drill line is logged in grade control programs with infill logging carried out as deemed necessary.

Historical logging is approximately 95% complete.

Sub-sampling techniques and

If core, whether cut or sawn and whether quarter, half or all core

All drill core is cut in half onsite using an automatic core saw. Samples are always collected from the same side.

sample preparation

taken.

If non-core, whether riffled, tub