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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  BARC GOLD    BDC   

BARC GOLD

(BDC)
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Bardoc Gold : El Dorado continues to grow with high grade zone at depth

01/08/2020 | 06:03pm EST

9 JANUARY 2020

ASX/MEDIA RELEASE

EL DORADO CONTINUES TO GROW WITH NEW RESULTS

EXTENDING BROAD HIGH-GRADE ZONE AT DEPTH

Significant widths and grades returned in multiple holes outside current resource

model, highlighting strong growth potential

Key Points:

  • A high-grade zone of mineralisation has been identified at depth outside of the current Mineral Resource at El Dorado, with key assay results including:
    • 11m @ 11.38g/t Au from 196m including 5m @ 23.34g/t Au from 200m in KNC190105;
    • 9m @ 4.71g/t Au from 173m including 5m @ 7.63g/t Au from 175m in KNCD190090;
    • 10m @ 5.77g/t Au from 164m including 6m @ 8.03g/t Au from 166m in KNC190100*;
    • 28m @ 13.59g/t Au from 176m including 6m @ 57.7g/t Au from 176m in KNC190079*.

*Previously reported holes on 3 December 2019 (KNC190100) and 8th October 2019 (KNC190079)

    • Assays pending from recently completed diamond drill holes, with follow-up Reverse Circulation drilling underway to test the mineralisation to the south.
  • Exploration drilling for 2020 has commenced across the 3.02Moz Bardoc Gold Project.

Bardoc Gold Limited (ASX: BDC, Bardoc or the Company) is pleased to report further outstanding drilling results from the El Dorado Deposit within its 100%-owned3.02Moz Bardoc Gold Project, located 50km north of Kalgoorlie in Western Australia.

Assay results from Reverse Circulation (RC) drilling completed before Christmas have confirmed the continuity of a broad zone of high-grade mineralisation directly below the current Mineral Resource, correlating with recently reported results and indicating an increasing grade profile at depth.

The ongoing success at El Dorado highlights the opportunity to increase gold resources at previously under- explored satellite deposits within the Bardoc Project.

The Company's multi-targeted exploration and drilling program resumed this week, targeting further resource growth and discovery opportunities across the project area to support a project-wide resource update later this year.

In the meantime, work is well advanced on a Pre-Feasibility Study (PFS) based on the current 3.02Moz Mineral Resource and is on track to be finalised and reported to the market in Q1 2020.

Bardoc Gold Limited | ABN 40 125 578 743

130 Stirling Highway, North Fremantle WA 6159 | Locked Bag 4, North Fremantle WA 6159 | Australia Tel +61 (0)8 6215 0090 | Fax +61 (0)8 6215 0091

www.bardocgold.com

EL DORADO

Results from recent Reverse Circulation (RC) and diamond drilling (DD) at the El Dorado Deposit have defined a high-grade core of the mineralisation approximately 170m below surface which is interpreted as an extension to higher grade zones observed in the recently updated Mineral Resource.

New and recently reported results from this high-grade area include:

  • 11m @ 11.38g/t Au from 196m including 5m @ 23.34g/t Au from 200m in KNC190105;
  • 9m @ 4.71g/t Au from 173m including 5m @ 7.63g/t Au from 175m in KNCD190090;
  • 19m @ 5.77g/t Au from 164m including 6m @ 8.03g/t Au from 166m in KNC190100 (reported in the ASX announcement of 3/12/2109); and
  • 28m @ 13.59g/t Au from 176m including 6m @ 57.7g/t Au from 176m in KNC190079 (reported in the ASX announcement of ASX 8/10/2019).

The new results suggest that the grade profile is improving at depth, providing a series of high-quality targets for additional follow-up drilling.

A number of assay results from diamond drilling completed in late 2019 are still pending. These are expected shortly and will be reported in due course. RC drilling resumed at the start of this week targeting extensions of the mineralisation to the south. Once this round of RC drilling is completed in the next few days, the RC rig will move to Mayday North.

Figure 1. Bardoc South Regional Location Plan.

Page 2 of 12

Figure 2. El Dorado drill-hole location plan.

Figure 3. El Dorado Cross-Section looking north-west.

Page 3 of 12

MAYDAY NORTH

Diamond core drilling at the 79koz Mayday North Deposit is scheduled to re-commence this week and will operate in parallel with the RC rig once it has relocated from El Dorado. The combined drilling effort will expedite exploration results from this newly acquired resource.

MANAGEMENT COMMENTS

Bardoc Gold's Chief Executive Officer, Mr Robert Ryan, said the impressive results being generated by deeper drilling at El Dorado are another reminder of the substantial exploration upside across the 3.02Moz Bardoc Project, and reflected the success of the Company's targeted exploration approach.

"The latest results from El Dorado show there is a high-grade core to the mineralisation outside the current resource model. We have also seen grades improving with depth, which has given us the confidence to remobilise the RC drill rig to target further extensions while we await assays from the remainder of the 2019 drill program.

"As gold reaches new record highs in Australian dollar terms of over $2,300/ounce, Bardoc's strategy of building a sizeable, high-quality resource in Australia's premier gold mining district has positioned the company well to become a sustainable gold producer.

"PFS studies are progressing well with results expected later this quarter and, while our cornerstone deposits at Aphrodite, Zoroastrian and Excelsior are the focus of this study, our recent exploration successes show there is still significant upside to our plan."

NEXT STEPS

  • Exploration drilling with both an RC and diamond rig will continue both to extend and increase the confidence in the Company's Mineral Resources.
  • Assay results from the under-explored North Kanowna Star prospect are expected shortly.
  • WA Sate Govt EIS co-funded drilling at the Black Flag Fault is being logged and interpreted.

BARDOC GOLD PROJECT - BACKGROUND

The Bardoc Gold Project was formed in October 2018 following completion of the merger between Excelsior Gold and Spitfire Materials, bringing together significant resources and excellent potential for growth. The Project runs contiguously north for 40km in the Eastern Goldfields. There are four main deposits and a multitude of smaller projects within the 250km2 landholding, providing a large Resource base and excellent exploration potential within the prolific Norseman-Wiluna greenstone belt and junction of the Bardoc Tectonic Zone (BTZ) and the Black Flag Fault (BFF).

These two deep-seated crustal structures host many multi-million-ounce deposits, including the world- renowned Golden Mile in Kalgoorlie.

Page 4 of 12

GLOBAL RESOURCE - BARDOC GOLD PROJECT

BARDOC GOLD PROJECT

Original

MEASURED

INDICATED

INFERRED

TOTAL RESOURCES

ASX

RESOURCES

Report

Deposit

Type

Cut-Off

Tonnes

Grade

Ounces

Tonnes

Grade

Ounces

Tonnes

Grade

Ounces

Tonnes

Grade

Ounces

Date

(g/t Au)

(,000t)

(g/t Au)

(,000oz)

(,000t)

(g/t Au)

(,000oz)

(,000t)

(g/t Au)

(,000oz)

(,000t)

(g/t Au)

(,000oz)

Aphrodite

OP

0.4

-

-

-

11,622

1.7

619

6,676

1.4

298

18,288

1.6

916

22/5/18

Aphrodite

UG

2.0

-

-

-

3,458

3.9

436

2,391

4.3

330

5,848

4.1

765

Aphrodite

TOTAL

-

-

-

15,080

2.2

1,055

9,067

2.2

628

24,136

2.2

1,681

Zoroastrian

OP

0.4

-

-

-

3,862

1.8

229

1,835

1.5

89

5,698

1.7

318

22/5/18

Zoroastrian

UG

2.0

-

-

-

580

4.4

82

823

4.3

114

1,403

4.4

197

Zoroastrian

TOTAL

-

-

-

4,442

2.2

311

2,658

2.4

203

7,101

2.3

515

Excelsior

OP

0.4

-

-

-

6,729

1.2

266

1,749

1.0

54

8,478

1.2

320

Mulwarrie

OP

0.5

-

-

-

-

-

-

881

2.8

79

881

2.8

79

13/11/18

Bulletin South

OP

0.4

152

2.2

11

546

2.1

36

150

2.1

10

849

2.1

57

Lochinvar

OP

0.4

-

-

-

423

1.8

24

57

1.6

3

480

1.7

27

19/2/14

Nerrin Nerrin

OP

0.5

-

-

-

-

-

-

651

1.3

26

651

1.3

26

Ophir

OP

0.6

-

-

-

-

-

-

75

1.9

5

75

1.9

5

11/12/13

Vettersburg South

OP

0.6

-

-

-

-

-

-

552

1.5

26

552

1.5

26

11/12/13

El Dorado

OP

0.5

-

-

-

-

-

-

471

1.5

23

471

1.5

23

Talbot North

OP

0.4

-

-

-

698

1.8

40

123

1.8

7

820

1.8

47

Windanya

OP

0.6

-

-

-

-

-

-

360

1.5

17

360

1.5

17

11/12/13

South Castlereagh

OP

0.5

-

-

-

111

1.6

6

369

1.3

15

481

1.4

21

Grafters

OP

0.5

-

-

-

-

-

-

319

1.3

14

319

1.3

14

Duke North

OP

0.4

-

-

-

851

1.0

28

795

1.0

25

1,646

1.0

53

North Kwanana Star

OP

0.5

-

-

-

-

-

-

716

1.4

32

716

1.4

32

Mayday North

OP

0.5

-

-

-

-

-

-

1,410

1.7

79

1,410

1.7

79

GLOBAL RESOURCE

152

2.3

11

28,880

1.9

1,766

20,403

1.9

1,247

49,426

1.9

3,022

Note: Differences may occur due to rounding. Full details of the Mineral Resource estimate were provided in the Company's ASX Announcement dated 30 September 2019.

Figure 4. Project Location Plan

Page 5 of 12

DISCLAIMERS AND FORWARD-LOOKING STATEMENTS

This announcement contains forward looking statements. Forward looking statements are often, but not always, identified by the use of words such as "seek", "target", "anticipate", "forecast", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions.

The forward-looking statements in this announcement are based on current expectations, estimates, forecasts and projections about Bardoc and the industry in which they operate. They do, however, relate to future matters and are subject to various inherent risks and uncertainties. Actual events or results may differ materially from the events or results expressed or implied by any forward-looking statements. The past performance of Bardoc is no guarantee of future performance.

None of Bardoc's directors, officers, employees, agents or contractors makes any representation or warranty (either express or implied) as to the accuracy or likelihood of fulfilment of any forward-looking statement, or any events or results expressed or implied in any forward-looking statement, except to the extent required by law. You are cautioned not to place undue reliance on any forward-looking statement. The forward-looking statements in this announcement reflect views held only as at the date of this announcement.

Authorised for release by:

Robert Ryan

Chief Executive Officer

For further information contact:

INVESTORS:

MEDIA:

Robert Ryan

Bardoc Gold Limited

Nicholas Read

Read Corporate

Telephone:

(08) 6215 0090

Telephone:

0419 929 046

Email:

admin@bardocgold.com.au

Email:

info@readcorporate.com.au

Competent Person's Statement - Exploration Results

The Company confirms it is not aware of any new information or data that materially affects the information included in the 30 September 2019 Bardoc Resource Estimate and that all material assumptions and technical parameters underpinning the estimate continue to apply and have not materially changed when referring to its resource announcement made on 30 September 2019.

Information in this announcement that relates to exploration results is based on information compiled by Mr. Bradley Toms who is the Exploration Manager of Bardoc Gold Limited. Mr. Toms is a Member of The Australian Institute of Geoscientists and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity that he is undertaking, to qualify as Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr. Toms consents to the inclusion in the document of the information in the form and context in which it appears.

Page 6 of 12

Appendix 1

Table 1 - Drill Hole Location Table

Collar North

Collar East

Collar Azi

Maximum

Hole ID

(MGA94-z51) m

(MGA94-z51) m

Collar RL m

Collar Dip0

Magnetic0

Depth (m)

El Dorado

KNC190099

336413

6634248

419

-60

235

300

KNC190105

336406

6634197

420

-60

235

240

KNC190109

336602

6633769

420

-60

235

140

KNC190110

336511

6633971

423

-60

235

180

KNCD190089

336340

6634296

419

-60

235

290.4

KNCD190090

336366

6634217

419

-60

235

220.9

Appendix 2

Table 2 - Significant Intersections >= 1m@ 0.5g/t Au, Intersections >=10grammetres are in bold. Maximum 2m internal downhole dilution. No upper cuts applied. NSA is "No Significant Assay", *=4m composite sample

Hole id

From (m)

To (m)

Width (m)

Grade g/t Au

KNC190099

NSA

KNC190105

172

173

1

0.50

183

184

1

1.55

190

191

1

5.84

196

207

11

11.38

including

200

205

5

23.34

KNC190109

NSA

KNC190110

NSA

KNCD190089

215.32

221.96

6.64

2.87

including

215.32

216.32

1

16.30

228.13

229.28

1.15

1.40

231.91

235.53

3.62

0.91

KNCD190090

166

172

6

0.56

173

183

9

4.71

including

175

181

5

7.63

Page 7 of 12

JORC, 2012 Edition - Tables - El Dorado

1.1 Section 1 Sampling techniques and data

Criteria

JORC Code explanation

Commentary

Sampling

Nature and quality of sampling (e.g. cut

The mineralization was primarily sampled by Reverse Circulation (RC) and

techniques

channels, random chips, or specific specialised

Diamond Core (DC) drilling on nominal 40m x 20m (N x E) grid spacing. The

industry

standard

measurement

tools

holes were generally drilled towards:

appropriate to the minerals under

- El Dorado magnetic 235 degrees;

investigation, such as down hole gamma

at varying angles to optimally intersect the mineralized zones.

sondes, or handheld XRF instruments, etc).

Complete details are un-available for historic drilling.

These examples should not be taken as

Generally, BDC RC recovered chip samples were collected and passed

limiting the broad meaning of sampling.

through a cone splitter.

Include reference to measures taken to ensure

Limited numbers of field duplicates and screen fire assays have been

sample representivity and the appropriate

undertaken to support sample representivity.

calibration of any measurement tools or

All BDC RC drilling was sampled on one metre down hole intervals. The

systems used.

recovered samples were passed through a cone splitter and a nominal 2.5kg

Aspects

of

the

determination

of

- 3.5kg sample was taken to a Kalgoorlie contract laboratory. Samples were

mineralisation that are Material to the Public

oven dried, reduced by riffle splitting to 3kg as required and pulverized in a

Report. In cases where 'industry standard'

single stage process to 85% passing 75 µm. The sample is then prepared by

work has been done this would be relatively

standard fire assay techniques with a 40g charge. Approximately 200g of

simple (e.g. 'reverse circulation drilling was

pulp material is returned to BDC for storage and potential assay at a later

used to obtain 1 m samples from which 3 kg

date. The BDC DC samples are collected at nominated intervals by BDC staff

was pulverised to produce a 30 g charge for

from core that has been cut in half. Samples were oven dried, crushed to a

fire assay'). In other cases more explanation

nominal 10mm by a jaw crusher, reduced by riffle splitting to 3kg as required

may be required, such as where there is coarse

and pulverized in a single stage process to 85% passing 75 µm. The sample

gold that has inherent sampling problems.

is then prepared by standard fire assay techniques with a 40g charge.

Unusual commodities or mineralisation types

Approximately 200g of pulp material is returned to BDC for storage and

(e.g. submarine nodules) may warrant

potential assay at a later date.

disclosure of detailed information.

Drilling techniques

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

RAB drilling makes up about 50% of the historic drilling and RC the other

hole hammer, rotary air blast, auger, Bangka,

50%. There are several campaigns of historic drilling between 1983 and

sonic, etc) and details (e.g. core diameter,

2009. These holes are sometimes without documentation of the rig type

triple or standard tube, depth of diamond

and capability, core size, sample selection and handling.

tails, face-sampling bit or other type, whether

For (post 2009) BDC drilling, the RC drilling system employed the use of a

core is oriented and if so, by what method,

face sampling hammer and a nominal 146mm diameter drill bit. The DC

etc).

drilling is NQ2 size core (nominal 50.6mm core diameter) or HQ (nominal

63.5mm core diameter).

All BDC drill core is orientated by the drilling contractor, usually every 3m

run.

Drill sample

Method of recording and assessing core and

All BDC RC 1m samples are logged for drilling recovery by a visual estimate

recovery

chip sample recoveries and results assessed

and this information is recorded and stored in the drilling database. At least

every 10th metre is collected in a plastic bag and these are weighed when

Measures taken to maximise sample recovery

they are utilized for the collection of field duplicate samples. All samples

and ensure representative nature of the

received by the laboratory are weighed with the data collected and stored

samples

in the database.

The BDC DC samples are orientated, length measured and compared to

Whether a relationship exists between sample

core blocks placed in the tray by the drillers, any core loss or other variance

recovery and grade and whether sample bias

from that expected from the core blocks is logged and recorded in the

may have occurred due to preferential

database. Sample loss or gain is reviewed on an ongoing basis and feedback

loss/gain of fine/coarse material.

given to the drillers to enable the best representative sample to always be

obtained.

BDC RC samples are visually logged for moisture content, sample recovery

and contamination. This is information is stored in the database. The RC

drill system utilizes a face sampling hammer which is industry best practice

and the contractor aims to maximize recovery at all times. RC holes are

drilled dry whenever practicable to maximize recovery of sample.

The DC drillers use a core barrel and wire line unit to recover the core, they

aim to recover all core at all times and adjust their drilling methods and

rates to minimise core loss, i.e. different techniques for broken ground to

ensure as little core as possible is washed away with drill cuttings.

Study of sample recovery vs gold grade does not show any bias towards

differing sample recoveries or gold grade. The drilling contractor uses

standard industry drilling techniques to ensure minimal loss of any size

fraction.

Logging

Whether core and chip samples have been

All BDC RC samples are geologically logged directly into hand-held Geobank

geologically and geotechnically logged to a

devices.

level of detail to support appropriate Mineral

All BDC DC is logged for core loss, marked into metre intervals, orientated,

Resource estimation, mining studies and

structurally logged, geotechnically logged and logged with a hand lens with

metallurgical studies.

the following parameters recorded where observed: weathering, regolith,

Page 8 of 12

Whether logging is qualitative or quantitative

rock type, alteration, mineralization, shearing/foliation and any other

in nature. Core (or costean, channel, etc)

features that are present

photography.

All BDC DC is photographed both wet and dry after logging but before

The total length and percentage of the

cutting.

relevant intersections logged.

The entire lengths of BDC RC holes are logged on a 1m interval basis, i.e.

100% of the drilling is logged, and where no sample is returned due to voids

(or potentially lost sample) it is logged and recorded as such. Drill core is

logged over its entire length and any core loss or voids intersected are

recorded.

Sub-sampling

If core, whether cut or sawn and whether

All BDC RC samples are put through a cone splitter and the sample is BDC

techniques and

quarter, half or all core taken.

Exploration results reported for drill core are half core taken from the right

sample

If non-core, whether riffled, tube sampled,

hand side of the core looking down hole. Core is cut by a Kalgoorlie based

preparation

rotary split, etc and whether sampled wet or

laboratory and returned to site for sampling.

dry.

All BDC RC samples are put through a cone splitter and the sample is

  • For all sample types, the nature, quality and collected in a unique pre-numbered calico sample bag. The moisture

appropriateness of the sample preparation

content of each sample is recorded in the database.

technique.

The BDC RC samples are sorted, oven dried, the entire sample is pulverized

  • Quality control procedures adopted for all in a one stage process to 85% passing 75 µm. The bulk pulverized sample is

sub-sampling

stages

to

maximise

then bagged and approximately 200g extracted by spatula to a numbered

representivity of samples.

paper bag that is used for the 50g fire assay charge.

Measures taken to ensure that the sampling is

The BDC DC samples are oven dried, jaw crushed to nominal <10mm, 3.5kg

representative of the in situ material

is obtained by riffle splitting and the remainder of the coarse reject is

collected, including for instance results for

bagged while the 3.5kg is pulverized in a one stage process to 85% passing

field duplicate/second-half sampling.

75 µm. The bulk pulverized sample is then bagged and approximately 200g

  • Whether sample sizes are appropriate to the extracted by spatula to a numbered paper bag that is used for a 40g or 50g

grain size of the material being sampled.

fire assay charge.

BDC RC and DC samples submitted to the laboratory are sorted and

reconciled against the submission documents. BDC inserts blanks and

standards with blanks submitted in sample number sequence at 1 in 50 and

standards submitted in sample number sequence at 1 in 20. The laboratory

uses their own internal standards of 2 duplicates, 2 replicates, 2 standards,

and 1 blank per 50 fire assays. The laboratory also uses barren flushes on

the pulveriser.

In the field every 10th metre from cone splitter is bagged and placed in order

on the ground with other samples. This sample is then used for collection of

field duplicates via riffle splitting. RC field duplicate samples are collected

after results are received from the original sample assay. Generally, field

duplicates are only collected where the original assay result is equal to or

greater than 0.1g/t Au. The field duplicates are submitted to the laboratory

for the standard assay process. The laboratory is blind to the original sample

number.

For DC, historically no core duplicates (i.e. half core) have been collected or

submitted. For the current program the lab was requested to take a sample

from the crush reject as a proxy for the field duplicate.

The sample sizes are considered to be appropriate for the type, style,

thickness and consistency of mineralization located at this project. The

sample size is also appropriate for the sampling methodology employed and

the gold grade ranges returned.

Quality of assay

The nature, quality and appropriateness of

BDC has routinely used local Kalgoorlie Certified Laboratories for all sample

data and

the assaying and laboratory procedures used

preparation and analysis. The most commonly used laboratories have

laboratory tests

and whether the technique is considered

been Intertek Genalysis and Bureau Veritas Australia. No complete details

partial or total.

of the sample preparation, analysis or security are available for either the

For geophysical tools, spectrometers,

historic AC, DD or RC drilling results in the database.

handheld XRF instruments, etc, the

The assay method is designed to measure total gold in the sample. The

parameters used in determining the analysis

laboratory procedures are appropriate for the testing of gold at this project

including instrument make and model,

given its mineralization style. The technique involves using a 40g or 50g

reading times, calibrations factors applied

sample charge with a lead flux which is decomposed in a furnace with the

and their derivation, etc.

prill being totally digested by 2 acids (HCl and HNO3) before measurement

Nature of quality control procedures adopted

of the gold content by an AA machine.

(e.g. standards, blanks, duplicates, external

The QC procedures are industry best practice. The laboratories are

laboratory checks) and whether acceptable

accredited and use their own certified reference materials.

levels of accuracy (i.e. lack of bias) and

BDC submits blanks at the rate of 1 in 50 samples and certified reference

precision have been established.

material standards at the rate of 1 in 20 samples in the normal run of sample

submission numbers. As part of normal procedures BDC examines all

standards and blanks to ensure that they are within tolerances. Additionally,

sample size, grind size and field duplicates are examined to ensure no bias

to gold grade exists.

Verification of

The verification of significant intersections by

BDC's Exploration Manager and Senior Resource Geologist have inspected

sampling and

either independent or alternative company

RC chips and drill core in the field to verify the correlation of mineralized

assaying

personnel.

zones between assay results and lithology/alteration/mineralization.

The use of twinned holes.

Page 9 of 12

Documentation of primary data, data entry

A number of RC holes have also been drilled that confirmed results obtained

procedures, data verification, data storage

from historical drillholes. No holes have been directly twinned, there are

(physical and electronic) protocols.

however holes within 15m of each other.

Discuss any adjustment to assay data.

Primary data is sent digitally every 2-3 days from the field to BDC's Database

Administrator (DBA). The DBA imports the data into the commercially

available and industry accepted DataShed database software. Assay results

are merged when received electronically from the laboratory. The

responsible geologist reviews the data in the database to ensure that it is

correct and has merged properly and that all data has been received and

entered. Any variations that are required are recorded permanently in the

database.

No adjustments or calibrations were made to any assay data used in this

report.

Location of data

Accuracy and quality of surveys used to locate

All drill holes have their collar location recorded from a differential RTK GPS

points

drill holes (collar and down-hole surveys),

unit by consultant surveyors. Downhole surveys are completed every 30m

trenches, mine workings and other locations

downhole. Incomplete down hole surveying information is available for the

used in Mineral Resource estimation

historic RC or DD drilling.

Specification of the grid system used

BDC routinely contracted down hole surveys during the programmes of

Quality and adequacy of topographic control.

exploration drilling for each drill hole completed using either digital

electronic multi-shot tool or north seeking gyro, both of which are

maintained by Contractors to manufacturer specifications. The current drill

program was downhole surveyed by the drill contractor using north seeking

gyro.

All drill holes and resource estimation use the MGA94, Zone 51 grid system.

The topographic data used was obtained from a LIDAR survey flown in 2012

and it is adequate for the reporting of Exploration Results and subsequent

Mineral Resource estimates.

Data spacing and

Data spacing for reporting of Exploration

The nominal exploration drill spacing is 40m x 20m with many E-W cross-

distribution

Results.

sections in-filled to 20m across strike.

Whether the data spacing and distribution is

This report is for the reporting of recent exploration drilling. The drill

sufficient to establish the degree of geological

spacing, spatial distribution and quality of assay results is appropriate for

and grade continuity appropriate for the

the nature and style of mineralisation being reported.

Mineral Resource and Ore Reserve estimation

The majority of RC holes were sampled at 1m, but when this isn't the case,

procedure(s) and classifications applied.

sample compositing to 4m has been applied.

Whether sample compositing has been

applied.

Orientation of

Whether the orientation of sampling achieves

The majority of previous drilling is to:

data in relation to

unbiased sampling of possible structures and

- El Dorado magnetic 235 degrees;

geological

the extent to which this is known, considering

the bulk of the mineralized zones are perpendicular to this drilling direction.

structure

the deposit type.

The current drilling is oriented towards similar angles in order to intersect

If the relationship between the drilling

the lodes in the optimal direction.

orientation and the orientation of key

No relationship between drilling orientation and sampling bias is

mineralised structures is considered to have

recognised at this time. .

introduced a sampling bias, this should be

assessed and reported if material.

Sample security

The measures taken to ensure sample

RC samples are delivered directly from the field to the Kalgoorlie laboratory

security.

by BDC personnel on a daily basis with no detours, the laboratory then

checks the physically received samples against an BDC generated sample

submission list and reports back any discrepancies

Drill core is transported daily directly from the drill site to BDC's secure core

processing facility by BDC personnel. The core is then placed on racks within

a secure shed and processed until it requires cutting. Core is then

transported directly by BDC's staff to the Kalgoorlie laboratory where it is

cut in half by laboratory staff and then sampled by BDC staff. The core is

then prepared for assay in Kalgoorlie to the pulverizing stage whereupon

Audits or reviews

The results of any audits or reviews of

An internal review of sampling techniques and procedures was completed

sampling techniques and data.

in March 2018. No external or third-party audits or reviews have been

completed.

1.2 Section 2 Reporting of Exploration Results - El Dorado

(Criteria listed in the preceding section also apply to this section.)

Criteria

JORC Code explanation

Commentary

Mineral

Type, reference name/number, location and

The results reported in this Announcement are on granted Mining

tenement and

ownership including agreements or material

tenements held by GPM Resources Pty Ltd.

land tenure

issues with third parties such as joint ventures,

Tenement

Holder

Area (Ha)

Expiry Date

status

partnerships, overriding royalties, native title

El Dorado

GPM Resources Pty Ltd

796.9

29/12/2029

interests, historical sites, wilderness or national

M24/134

park and environmental settings.

At this time the tenement is in good standing.

Page 10 of 12

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.

Exploration done

Acknowledgment and appraisal of exploration

Exploration by other parties has been reviewed and is used as a guide to

by other parties

by other parties.

BDC's exploration activities. This includes work by Goldfields, and other

exploration companies. Previous parties have completed both open pit and

underground mining, geophysical data collection and interpretation, soil

sampling and drilling.

This report comments only on exploration results collected by Bardoc Gold.

Geology

Deposit type, geological setting and style of

El Dorado gold mineralisation is hosted predominantly in a contact zone

mineralisation.

between ultramafics and sediments of the Black Flag Sequence. Brittle-

ductile shear zones containing quartz veining and associated gold

mineralisation with intense alteration occur on the contact zone as seen

on the cross section.

Drill hole

A summary of all information material to the

See Table in this announcement

Information

understanding of the exploration results

No results from previous un-reported exploration are the subject of this

including a tabulation of the following

announcement.

information for all Material drill holes:

Easting and Northing define the collar location in MGA94 zone 51 map

o easting and northing of the drill hole collar

projection. The map projection is a transverse Mercator projection, which

o elevation or RL (Reduced Level - elevation

conforms with the internationally accepted Universal Transverse Mercator

above sea level in metres) of the drill hole

Grid system. Collar elevations are RL's (elevation above sea level)

collar

Dip is the inclination of the hole from the horizontal (i.e. a vertically down

o dip and azimuth of the hole

drilled hole from the surface is -90°). Azimuth for current drilling is reported

o down hole length and interception depth

in magnetic degrees as the direction toward which the hole is drilled.

o

hole length.

MGA94 and magnetic degrees vary by approximately 1° in this project area

If the exclusion of this information is justified on

Down hole length of the hole is the distance from the surface to the end of

the basis that the information is not Material

the hole, as measured along the drill trace. Intercept depth is the distance

and this exclusion does not detract from the

down the hole as measured along the drill trace. Intersection width is the

understanding of the report, the Competent

downhole distance of an intersection as measured along the drill trace.

Person should clearly explain why this is the

Hole length is the distance from the surface to the end of the hole, as

case.

measured along the drill trace.

Data aggregation

In

reporting

Exploration

Results, weighting

No high grade cuts have been applied to assay results. RC and DC assay

methods

averaging

techniques,

maximum

and/or

results are distance weighted using their applicable down hole width for

minimum grade truncations (e.g. cutting of

each assay.

high grades) and cut-off grades are usually

Intersections are reported if the interval is at least 1m wide at 0.5g/t Au

Material and should be stated.

grade. Intersections greater than 1m in downhole distance can contain up

Where aggregate intercepts incorporate short

to 2m of low grade or barren material.

lengths of high grade results and longer lengths

No metal equivalent reporting is used or applied.

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.

Relationship

These relationships are particularly important

The intersection width is measured down the hole trace, it is not usually the

between

in the reporting of Exploration Results.

true width. Cross sections in this announcement allows the relationship

mineralisation

between true and down hole width to be viewed.

widths and

If

the

geometry of the mineralisation with

Data collected from historical workings and shafts within the area and from

intercept lengths

respect to the drill hole angle is known, its

structural measurements from orientated diamond core drilling show the

nature should be reported.

primary ore zones to be sub-vertical (east dipping) in nature with a general

If

it is

not known and only the down hole

northwesterly (magnetic) strike.

lengths are reported, there should be a clear

All drill results within this announcement are downhole intervals only and

statement to this effect (e.g. 'down hole length,

true widths are not reported. True widths are approximately 40% of the

true width not known').

reported drill intercept widths.

Diagrams

Appropriate maps and sections (with scales)

Plan and cross sectional views are contained within this announcement.

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.

Balanced

Where

comprehensive

reporting

of

all

All results >= 0.5g/t Au are reported. The results are length weighted

reporting

Exploration Results is not practicable,

composites based on the Au grade and down hole length, a maximum of 2m

representative reporting of both low and high

of internal dilution is included.

grades and/or widths should be practiced to

avoid misleading reporting of Exploration

Results.

Other substantive

Other

exploration

data,

if

meaningful

and

No other exploration data is considered meaningful and material to this

exploration data

material, should be reported including (but not

announcement.

limited

to):

geological

observations;

geophysical survey results; geochemical survey

Page 11 of 12

results; bulk samples - size and method of

treatment; metallurgical test results; bulk

density, groundwater, geotechnical and rock

characteristics; potential deleterious or

contaminating substances.

Further work

The nature and scale of planned further work

Exploration work is ongoing at this time and may involve the drilling of more

(e.g. tests for lateral extensions or depth

drill holes, both DC and RC, to further extend the mineralised zones and to

extensions or large-scalestep-out drilling).

collect additional detailed data on known and as yet unidentified

Diagrams clearly highlighting the areas of

mineralized zones.

possible extensions, including the main

geological interpretations and future drilling

areas, provided this information is not

commercially sensitive.

Page 12 of 12

Disclaimer

Bardoc Gold Ltd. published this content on 09 January 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 January 2020 23:02:00 UTC


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