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

27.10.2016 | 20:44

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

Erste Ressourcenschätzung auf Goulamina bestätigt und hochgradige Lithiumlagerstätte mit beträchtlicher Tonnage

- Erste Ressourcenschätzung auf Goulamina; - --15,5 Mio. Tonnen mit 1,48 % Li2O (229.000 t enthaltenes Li2O)

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

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

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

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

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

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

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

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

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

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

Mineralressourcenschätzung

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

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

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Tabelle 1. Klassifizierungen der Mineralresource Goulamina

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Abbildung 1. Goulamina Blockmodel Schrägansicht Richtung Norden

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

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

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

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

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

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

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

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Abbildung 3. Profilschnitte Lagerstätte Goulamina.

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Figure 4. Goulamina Location and Infrastructure.

Goulamina - eine hochgradige Lithiumlagerstätte mit beträchtlichen Tonnagen

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

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

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

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

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

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Abbildung 5. Goulamina Gehalt-Tonnage-Kurve.

Zukünftige Planung - Bohrungen

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

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

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

Scoping-Studie und Genehmigungsverfahren

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

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

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

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

Für weitere Informationen kontaktieren Sie bitte:

Kevin Joyce Managing Director 08 9286 3045 info@birimiangold.com

In Europa: Swiss Resource Capital AG Jochen Staiger info@resource-capital.ch www.resource.capital.ch

Erklärung der qualifizierten Personen

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

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

Zuvor gemeldete Ergebnisse

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

Zukunftsgerichtete Aussagen

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

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

ASX Additional Information - Material Assumptions

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

Mineral Tenement and Land Tenure Status

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

Geology

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

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

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

Drilling Techniques and Hole Spacing

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

RC drilling was completed by a purpose-built rig supplied and operated by Foraco Drilling, using nominally 5.5 diameter equipment, with a face sampling downhole hammer. The rig has an outboard compressor, with specifications of 1100CFM@350PSI. Core drilling was completed using a purpose-built rig supplied and operated by Foraco Drilling. All holes are standard HQ sized holes (core diameter 64mm). DD holes are a combination of some drilled from surface (lengths varied between 21m and 110m), and some as diamond tails on RC holes (lengths varied between 100m and 195m).

Sampling

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

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

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

Sample Analysis

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

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

Estimation Methodology

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

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

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

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

Resource Classification

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

-- Geological continuity and volume;

-- Drill spacing and drill data quality;

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

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

Cut-off Grade

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

Mining and Metallurgy

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

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

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

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

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JORC Code, 2012 Edition - Table 1 Section 1 - Sampling Techniques and Data CriteriJORC Code explanation Commentary a

Samplin· Nature and quality of · Diamond Drill Core (DD) g sampling and Reverse Circulation techni ( (RC) chips are the two ques eg cut channels, random main sample chips, or specific types. specialised industry standard measurement · RC drill holes were tools appropriate to routinely sampled at 1m the minerals under intervals down the hole, investigation, such as with samples collected down at the drill rig by riffle splitting drill hole gamma sondes, or spoils to collect a handheld XRF nominal 2.5 - 4kg sub instruments, sample, with an additional 50% split for etc). These examples material > 5 should not be taken as kg. limiting the broad meaning of · Routine standard sampling. reference material, sample blanks, and · Include reference to sample duplicates were measures taken to inserted or collected at ensure sample every 10th sample in the sample sequence for RC representivity and the drill appropriate calibration holes. of any measurement tools or systems · Nominal 2.5kg sub used. samples were collected from half sawn HQ sized · Aspects of the diamond drill core, determination of routinely sampled at 1m mineralisation that are intervals down the Material to the Public hole. Report. · Routine standard · In cases where reference material and industry standard sample blanks were work has been done this inserted collected at would be relatively every 20th sample in the simple sample sequence for DD ( drill eg reverse circulation holes. drilling was used to obtain 1 m samples from · All samples were which 3 kg was submitted to ALS Bamako pulverised to produce a and subsequently 30 g charge for fire forwarded to ALS assay). In other cases Ouagadougou for more explanation may be preparation. Analysis required, such as where was undertaken at ALS there is coarse gold Perth by method that has inherent ME-ICP89 sampling problems. Unusual commodities or mineralisation types ( eg submarine nodules) may warrant disclosure of detailed information.

Drillin· Drill type (eg core, · Drillholes were g reverse circulation, generally angled at -60° techni open-hole hammer, towards 270° (WGS84_29N ques rotary air blast, grid) auger, Bangka, sonic, · RC drilling equipment etc) and details (eg core is nominally 5.5 diameter, triple or diameter, with a face standard tube, depth of sampling down diamond tails, face-sampling bit or hole hammer. other type, whether · RC drilling used a core is oriented and if purpose-built RC Rig so, by what method, ( Foraco Drilling) with an etc). outboard compressor, with specifications of 1100CFM@350PSI

· DD holes are standard tube HQ sized holes (core diameter 64mm)

· DD holes were drilled using a purpose built drill rig supplied and operated by

Foraco Drilling. · DD holes are a combination of some drilled from surface (lengths varied between 21m and 110m), and some as diamond tails on RC holes (lengths varied between 100m and 195m).

· Core Orientations were performed with a Reflex ACT II RD rapid descent core orientation tool

Drill · Method of recording · A qualitative estimate sample and assessing core and of sample recovery was recove chip sample recoveries done for each sample ry and results metre collected from the assessed. drill rig for RC holes. · Measures taken to maximise sample · Riffle split samples recovery and ensure were weighed to ensure representative nature consistency of sample of the size and to monitor samples. sample recoveries. · Whether a relationship exists between sample · A quantitative measure recovery and grade and of sample recovery was whether sample bias may done for each run of have occurred due to drill core for DD preferential loss gain holes. of fine coarse material. · Drill sample recovery in the DD holes approximates 100% in mineralised zones.

· Overall, drill sample recovery and quality is considered to be adequate for the RC drilling, and is considered to be excellent for the DD holes.

· There is the possibility of some low-level contamination from the drill bits and rods on subsequent iron assays.

Logging· Whether core and chip · All drill sample samples have been intervals were geologically and geologically logged by Company geotechnically logged to Geologists. a level of detail to support appropriate · Where appropriate, Mineral Resource geological logging estimation, mining recorded the abundance studies and of specific minerals, metallurgical rock types and studies. weathering using a standardized logging · Whether logging is system. qualitative or quantitative in nature. · For RC holes, a small Core (or sample of washed drill material was retained in costean, channel, etc) chip trays for future photography. reference and validation of geological logging, · The total length and and an additional 100g percentage of the of drill material was relevant intersections retained in plastic bags logged. for the same purpose.

· For DD holes, all core was photo-graphed both Wet and Dry.

· For most holes, the entire drill hole was logged and sampled. Barren granite away from the pegmatite dykes was not routinely sampled.

Sub-sam· If core, whether cut · RC 1m samples were pling or sawn and whether riffle split at the techni quarter, half or all drill rig, and routine ques core field sample duplicates and taken. were taken to evaluate sample whether samples were prepar· If non-core, whether representative. ation riffled, tube sampled, rotary split, · Drill core was sawn in half along its long etc and whether sampled axis. One half of the wet or drill core was taken dry. for geochemical analysis. · For all sample types, All samples were the nature, quality and collected at 1m appropriateness of the intervals down the sample preparation hole. technique. · Sample preparation was · Quality control undertaken by ALS procedures adopted for Ouagadougou all sub-sampling stages laboratory. to maximise · At the laboratory, representivity of samples were weighed, samples. dried and crushed to -2mm in a jaw crusher. A · Measures taken to 1.0kg split of the ensure that the crushed sample was sampling is pulverised in a steel representative of the ring mill to achieve a in situ material nominal particle size of collected, including 85% passing for instance results 75m. for field duplicate second-half · Sample sizes and sampling. laboratory preparation techniques are · Whether sample sizes considered to be are appropriate to the appropriate for lithium, grain size of the but may have introduced material being a small level of sampled. contamination for iron from the sample preparation equipment.

Quality· The nature, quality · Analysis for lithium of and appropriateness of and a suite of other assay the assaying and elements was undertaken data laboratory procedures at ALS Perth by ICPAES and used and whether the after Sodium Peroxide labora technique is considered Fusion. Detection limits tory partial or for lithium (0.01 tests total. -10%)

· For geophysical tools, · Sodium Peroxide fusion spectrometers, handheld is considered a total XRF instruments, assay technique for lithium etc, the parameters used in determining the · No geophysical tools or analysis including other non-assay instrument make and instrument types were model, reading times, used in the analyses calibrations factors reported. applied and their derivation, · Review of routine etc. standard reference material and sample · Nature of quality blanks suggest there are control procedures no significant adopted analytical bias or ( preparation errors in eg standards, blanks, the reported duplicates, external analyses. laboratory checks) and whether acceptable · Lithium assays for the levels of accuracy RC field sample ( ie lack of bias) and duplicates compare well precision have been with the original sample established. and are consistent with the style of mineralisation being evaluated. The analyses are considered to be representative of the geological zones which were sampled.

· No field duplicates were taken for the DD program.

· Internal laboratory QAQC checks are reported by the laboratory, including sizing analysis to monitor preparation.

· Review of the internal laboratory QAQC suggests the laboratory is performing within acceptable limits.

· No samples were analysed at an umpire lab.

Verific· The verification of · Drill hole data is ation significant compiled and digitally of intersections by either captured by company sampli independent or geologists. ng and alternative company assayi personnel. · The compiled digital ng data is verified and · The use of twinned validated by the holes. Companys database consultant before · Documentation of loading into the drill primary data, data entry procedures, data hole database. verification, data · No specific twin holes storage (physical and were drilled. electronic) protocols. · Reported results are · Discuss any adjustment compiled by the to assay Companys database data. consultant and the Managing Director.

· There were no adjustments to assay data.

Locatio· Accuracy and quality · Drill hole collars were n of of surveys used to set out in UTM grid data locate drill holes WGS84_Zone29N points (collar and down-hole surveys), trenches, · Drill hole collars were mine workings and other positioned using hand locations used in held Mineral Resource GPS. estimation. · RC and DD holes are · Specification of the routinely surveyed for grid system orientation at used. approximately 50m-spaced intervals down the hole, · Quality and adequacy using the Reflex EZ-TRAC of topographic electronic multi-shot control. system

· SRTM elevation data was used to establish topographic control where appropriate.

· Locational accuracy at collar and down the drill hole is considered appropriate for this stage of resource estimation.

Data · Data spacing for · The majority of spacin reporting of drilling is at 50m x 50m g and Exploration centres, with deeper distri Results. holes at 100m x 50m bution spacing, and some minor · Whether the data infill to approximately spacing and 50m x 25m on selected distribution is sections. sufficient to establish the degree of · This spacing is geological and grade adequate to determine continuity appropriate the geological and grade for the Mineral continuity for reporting Resource and Ore of Mineral Reserve estimation Resources. procedure(s) and classifications · Compositing to 3m applied. lengths has been applied for the estimation of · Whether sample Mineral compositing has been Resources applied.

Orienta· Whether the · Mineralisation at Goulam tion orientation of sampling ina of achieves unbiased outcrops at surface and data sampling of possible the steeply dipping in structures and the geometry of relati extent to which this is mineralisation is on to known, considering the therefore geolog deposit well-defined. ical type. struct · Drilling orientation ure · If the relationship has not biased the between the drilling sampling. orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.

Sample · The measures taken to · Samples are stored on securit ensure sample site prior to road y security. transport by Company personnel to the ALS Laboratory in Bamako, Mali.

· Chain of custody procedures exist for the transport of material between ALS Laboratories (Mali to Burkina Faso to Perth).

Audits · The results of any · Cube Consulting or audits or reviews of undertook a site visit review sampling techniques and during RC drilling s data. operations to review the sampling techniques.

· There has been no external audit or review of the Companys sampling techniques for diamond drilling.

Section 2 - Reporting of Exploration Results

CriteriJORC Code explanation Commentary a

Mineral· Type, reference · The reported results teneme name number, location are from an area within nt and and ownership including the land agreements or material tenure issues with third Torakoro Permit, which is status parties such as joint held 100% by Timbuktu ventures, partnerships, Resources SARL, a Malian overriding royalties, subsidiary of native title interests, historical sites, Birimian Limited wilderness or national · Tenure is in good park and environmental standing. settings.

· The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.

Explora· Acknowledgment and · The area which is tion appraisal of presently covered by the done exploration by other by parties. Torakoro Permit was other explored intermittently partie by government agencies s in the period 1990 to 2008. Exploration consisted of soil sampling and mapping for gold.

· In 2007-2008 an evaluation of the commercial potential for lithium at

Goulamina was undertaken by CSA Global as part of the SYSMIN 7 economic development program.

· CSA undertook mapping and bulk sampling of the

Goulamina outcrop but did not undertake drilling. Bulk sampling and preliminary processing

testwork confirmed the viability of the pegmatite at

Goulamina to produce a high quality chemical grade lithium concentrate

Geology· Deposit type, · Pegmatite Hosted geological setting and Lithium Deposits are the style of target for exploration. mineralisation. This style of mineralisation typically forms as dykes and sills intruding or in proximity to granite host rocks.

· Surficial geology within the project area typically consists of indurated gravels forming plateaux, and broad depositional plains consisting of colluvium and alluvial to approximately 5m vertical depth.

· Lateritic weathering is common away from the

Goulamina deposit and in the broader project area.

Drill · A summary of all · All relevant data from hole information material to 2016 drilling programs Inform the understanding of has been previously ation the exploration results released to the including a tabulation market. of the following information for all

Material drill holes: o easting and northing of the drill hole collar

o elevation or RL (Reduced Level - elevation above sea level in metres) of the drill hole collar

o dip and azimuth of the hole

o down hole length and interception depth

o hole length. · If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.

Data · In reporting · All relevant data from aggreg Exploration Results, 2016 drilling programs ation weighting averaging has been previously method techniques, maximum released to the s and or minimum grade market. truncations ( eg cutting of high grades) and cut-off grades are usually Material and should be stated.

· Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.

· The assumptions used for any reporting of metal equivalent values should be clearly stated.

Relatio· These relationships · All relevant data from nship are particularly 2016 drilling programs betwee important in the has been previously n reporting of released to the minera Exploration market. lisatio Results. n widths· If the geometry of the and mineralisation with interc respect to the drill ept lengthhole angle is known, its s nature should be reported.

· If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect ( eg down hole length, true width not known).

Diagram· Appropriate maps and · All relevant data from s sections (with scales) 2016 drilling programs and tabulations of has been previously intercepts should be released to the included for any market. significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.

Balance· Where comprehensive · All relevant data from d reporting of all 2016 drilling programs report Exploration Results is has been previously ing not practicable, released to the representative market. reporting of both low and high grades and or widths should be practiced to avoid misleading reporting of Exploration Results.

Other · Other exploration · Density measurements substa data, if meaningful and taken by Archimedes ntive material, should be Method (water explor reported including (but displacement) of core ation not limited to): samples from 14 holes, data geological all in observations; geophysical survey unweathered material. results; geochemical · Whole core was used, survey results; bulk but neither coated nor samples - size and waxed. method of treatment; metallurgical test · These measurements were results; bulk density, used to determine the groundwater, bulk density for the geotechnical and rock Mineral characteristics; Resource. potential deleterious or contaminating · In addition to lithium substances. (as Li 2O), all holes were assayed for a multi-element suite to evaluate the presence of any potential co-product or contaminating material.

Further· The nature and scale · The Mineral Resource work of planned further work estimate will be used to ( eg tests for lateral support a scoping level extensions or depth assessment of the key extensions or processing parameters large-scale step-out and estimate capital drilling). costs, which will be used to define · Diagrams clearly subsequent phases of highlighting the areas detailed work at the of possible extensions, including the main Bougouni Li Project. geological · An environmental interpretations and consultancy has been future drilling areas, engaged to undertake a provided this preliminary social and information is not environmental assessment commercially at sensitive. Goulamina. ·

Section 3 - Estimation and Reporting of Mineral Resources

CriteriaJORC Code explanation Commentary Database· Measures taken to · Drilling database is integri ensure that data has maintained by ty not been corrupted by, for example, Birimians database transcription or keying consultant (Rock Solid errors, between its Data Consultancy) in initial collection and its use for Mineral Datashed software, Resource estimation look-up tables and fixed purposes. formatting are used for entering logging, · Data validation spatial and sampling procedures data for the deposit used. databases. Sample numbers are uniquely coded and pre-numbered bags used. Data transfer for

downhole survey and assaying information is electronic via email. These and other workflow methods minimise the potential of errors.

· Cube received data directly exported from

Datashed in ASCII format, then completed validation checks on the database comparing maximum hole depths checks

on all data, duplicate numbering, missing data, and interval error checks using validation rules in MS Excel before importing records into MS Access. Cube then verified the data using visual inspection of the

drillholes in Surpac v6.7, in 3D to identify inconsistencies of drill

hole traces. Site · Comment on any site · Matt Bampton (Senior visits visits undertaken by Consultant - Cube the Competent Person Consulting) who is the and the outcome of Competent Person, those conducted a site visit visits. in May 2016, during which time he inspected · If no site visits have the Project area been undertaken including RC drilling, indicate why this is sampling and sample the despatch for the case. receiving laboratory. Notes and photographs were taken along with discussions with site personnel regarding geology and mineralisation of the deposits, procedures, sampling and database procedures, and Quality Control procedures. Minor recommendations were made during a visit to the RC rig involving modifications to the vibrating splitter, and to record and collate - where possible - the depth of intersecting the groundwater table. Also minor recommendations were made for elements of the (then) planned diamond infill and extensional drilling programs. No other major issues were encountered.

Geologic· Confidence in (or · The confidence in the al conversely, the geological uncertainty interpretation interpre tation of ) the geological of Main Zone and West interpretation of the Zone of the mineral deposit. Goulamina Pegmatites is good as a result of the · Nature of the data consistency of used and of any intercepts in RC and assumptions diamond core drilling made. programs, and their correlation to the · The effect, if any, of surface outcrops and alternative sub-crops of interpretations on Mineral Resource spodumene-rich pegmatites. estimation. · There is a very strong correlation between the · The use of geology in mineralised portion of guiding and controlling the pegmatite dykes and Mineral Resource the total dyke estimation. intercept. Very little pegmatite material is · The factors affecting not significantly continuity both of elevated in lithium grade and content; thus the geology. mineralisation boundaries generally match the lithological boundaries of the dykes.

· The confidence in the geological interpretation of two narrow parallel or cross-cutting

pegmatites is low, as the surface interpretation from outcrop and sub-crop is generally supported by only 1-2 drill-hole intercepts. This confidence is reflected in the resource classification.

Dimensio· The extent and · The Goulamina Mineral ns variability of the Resource area has Mineral Resource dimensions of 625m expressed as length (strike length) in two (along strike or main dykes up to 70m otherwise), plan width, (true width) and 200m and depth below surface (below surface). The to the upper and lower maximum depth known to limits of the Mineral date for the deepest Resource. mineralisation is 160m below the surface.

Estimati· The nature and · The block model was on and appropriateness of the constructed using modelli estimation technique(s) interpolation of grade ng applied and key via Ordinary techniq assumptions, including ues treatment of extreme Kriging (OK), with an grade values, Inverse Distance method used as an internal domaining, interpolation check, a global model parameters and maximum was considered to be distance of appropriate for extrapolation from data preliminary scoping points. If a computer level assisted estimation studies. method was chosen include a description · High grade values were of computer software reviewed, but it was and parameters considered that used. application of top-cuts was not · The availability of required. check estimates, previous estimates · Mineralised domains for and or mine production 4 separate pegmatite records and whether the dykes were digitised in Mineral Resource cross-section using 3D estimate takes strings and then appropriate account of such wireframed to generate data. solids. These were a subset of lithological · The assumptions made wireframes of these regarding recovery of pegmatite by-products. dykes.

· Estimation of · Drillhole sample data deleterious elements or was flagged using domain other non-grade codes generated from variables of economic three dimensional significance mineralisation domains ( and oxidation surfaces. eg sulphur for acid mine Sample data was drainage composited to three characterisation). metre

· In the case of block downhole lengths using a model interpolation, best the block size in fit-method relation to the average . sample spacing and the · Interpolation search parameters were set to a employed. minimum number of 12 composites and a maximum · Any assumptions behind number of 24 composites modelling of selective for the estimate. A mining maximum search ellipse units. of 150m was used for estimation runs in the · Any assumptions about reportable resource. correlation between variables. · Computer software used · Description of how the for the modelling and geological estimation was interpretation was used to control the resource Surpac v6.7, with SuperVis estimates. or software used to conduct · Discussion of basis geostatistical for using or not using and variographic analysis grade cutting or . capping. · No by-product · The process of recoveries were validation, the considered; checking process used, Fe the comparison of model 2O3 was estimated, as an data to drill hole element of data, and use of reconciliation data if potential interest in available. terms of a future

spodumene concentrate. · The parent block size used is 20mN x 20m E x 5m RL and sub-blocked to 1.25mN x 2.5mE x 2.5mRL. The bulk of the drilling data was on 50m x 50m spaced sections.

· No assumptions of selective mining units were made.

· The mineralised domains acted as a hard boundary to control the Mineral Resource estimate.

· Block model validation was conducted by the following means:

· Visual inspection of block model estimation in relation to raw drill data on a section by section basis.

· Volumetric comparison of the wireframe solid volume to that of the block model volume for each domain.

· A global statistical comparisons of input and block grades, and local composite grade (by northing and RL) relationship plots (swath plots), to the block model estimated grade for each domain.

· Comparison of the (de-clustered) cut grade drill

hole composites with the block model grades for each lode domain in 3D.

· No mining has taken place and therefore no reconciliation data is available.

Moisture· Whether the tonnages · The tonnages are are estimated on a dry estimated on a dry basis or with natural basis. moisture, and the method of determination of the moisture content.

Cut-off · The basis of the · Cut-off grade for paramet adopted cut-off reporting is 0.0% % ers grade(s) or quality Li parameters 2O, in line with applied. recommendations based on preliminary economic considerations and the minimum grade required that can be upgraded to make a saleable lithium concentrate.

Mining · Assumptions made · The preliminary mining factors regarding possible studies are based on or mining methods, minimum open cut mining methods assumpt mining dimensions and using a contract mining ions internal (or, if fleet and conventional applicable, external) drill and blast mining mining dilution. It is methods. always necessary as part of the process of · These studies have been determining reasonable used to generate an open prospects for eventual pit shell to limit the economic extraction to material in the block consider potential model to that component mining methods, but the which is considered to assumptions made have reasonable regarding mining prospects for eventual methods and parameters economic extraction when estimating Mineral Resources may not always be rigorous. Where this is the case, this should be reported with an explanation of the basis of the mining assumptions made.

Metallur· The basis for · In 2007-2008 CSA gical assumptions or undertook mapping and factors predictions regarding bulk sampling of the or metallurgical assumpt amenability. It is Goulamina outcrop but did ions always necessary as not undertake part of the process of drilling. determining reasonable prospects for eventual · They collected a economic extraction to representative bulk consider potential sample comprising metallurgical methods, 3,150kg of material, but the assumptions which was subsequently regarding metallurgical crushed and split to treatment processes and 750kg for detailed parameters made when processing test reporting Mineral work. Resources may not always be rigorous. · This work included evaluations of screen Where this is the case, sizing this should be reported with an explanation of to optimize spodumene (lit the basis of the hium) recoveries and metallurgical preliminary dense media assumptions separation made. tests.

· The results of this study indicated good

spodumene recoveries (~84.7%) and a high mass yield, to produce a high quality chemical grade

spodumene concentrate (~6.7% Li 2O). Environm· Assumptions made · No environmental or ental regarding possible social assessment of the factors waste and process Project has been or residue disposal done. assumpt options. It is always ions necessary as part of · The Mineral Resource the process of estimate will be used to determining reasonable support a scoping level prospects for eventual assessment of the key economic extraction to project parameters, consider the potential including those that environmental impacts impact on environmental of the mining and factors. processing operation. While at this stage the · An environmental determination of consultancy has been potential environmental engaged to undertake a impacts, particularly preliminary social and for a environmental assessment at greenfields project, may not always be well Goulamina. advanced, the status of early consideration of these potential environmental impacts should be reported. Where these aspects have not been considered this should be reported with an explanation of the environmental assumptions made.

Bulk · Whether assumed or · Bulk density density determined. If assumed, determination for the basis for the assumptions. If unweathered material is determined, the method derived from an analysis used, whether wet or of dry density dry, the frequency of measurements of drill the measurements, the core from 14 diamond nature, size and holes. representativeness of the samples. · Whole core was used, but neither coated nor · The bulk density for waxed. The risk of not bulk material must have using a method which been measured by adequately accounts for methods that adequately potential void spaces is account for void spaces considered to be low in ( both the vugs, porosity, etc), moisture and pegmatites and granitic differences between rocks. rock and alteration zones within the · In weathered material deposit. (including minor transported colluvium · Discuss assumptions and for bulk density estimates used in the in-situ laterite), bulk evaluation process of density was assumed, the different based on data from other materials. equivalent granite-hosted deposits.

· Bulk density was assigned within the block model attribute density according to the weathering profiles and rock types.

Classifi· The basis for the · Blocks have been cation classification of the classified as Indicated Mineral Resources into or Inferred, based on a varying confidence combination of data categories. spacing, interpolation metadata (number of · Whether appropriate composites used, account has been taken conditional bias slope, of all relevant factors (i.e. relative kriging variance) and confidence in geological tonnage grade understanding. estimations, Indicated Mineral reliability of input Resources are defined data, confidence in nominally on 50m x 50m continuity of geology to 50m x 25m spaced and metal values, drilling within the Main quality, quantity and Zone pegmatite. Inferred distribution of the Mineral Resources are in data). part defined by data density greater than 50m · Whether the result x 50m spaced drilling appropriately reflects within the Main Zone the Competent Persons pegmatite, and for the view of the bulk of the West Zone deposit. pegmatite.

· The Mineral Resource estimate appropriately reflects the Competent Persons view of the deposit.

Audits · The results of any · Whilst Mr. Bampton (Comp or audits or reviews of etent Person) is reviews Mineral Resource considered to be estimates. independent of

Birimian, no third party reviews have as yet been completed

on the October 2016 Minera l R esource Discussi· Where appropriate a · The relative accuracy on of statement of the of the Mineral Resource relativ relative accuracy and estimate is reflected in e confidence level in the the reporting of the accurac Mineral Resource Mineral Resource in y estimate using an accordance with the confide approach or procedure guidelines of the 2012 nce deemed appropriate by JORC the Competent Person. Code. For example, the application of · The statement relates statistical or to global estimates of tonnes and grade. geostatistical procedures to quantify the relative accuracy of the resource within stated confidence limits, or, if such an approach is not deemed appropriate, a qualitative discussion of the factors that could affect the relative accuracy and confidence of the estimate.

· The statement should specify whether it relates to global or local estimates, and, if local, state the relevant tonnages, which should be relevant to technical and economic evaluation. Documentation should include assumptions made and the procedures used.

· These statements of relative accuracy and confidence of the estimate should be compared with production data, where available.

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