TIDMPOW
RNS Number : 4828U
Power Metal Resources PLC
01 August 2022
1 August 2022
Power Metal Resources plc
("Power Metal" or the "Company")
Victorian Goldfields Joint-Venture - Ajax Mine Potential
Assessment
Power Metal Resources plc (LON:POW), the London listed
exploration company seeking large-scale metal discoveries across
its global project portfolio announces an update in relation to its
joint venture ("JV") subsidiary New Ballarat Gold Corporation Plc
("NBGC"), which is focused on the prolific Victorian Goldfields of
Australia.
NBGC is a joint-venture held between Power Metal (49.9%) and its
partner, London-listed Red Rock Resources plc (50.1%). NBGC has a
100% interest in Red Rock Australasia Pty Ltd ("RRAL").
Paul Johnson, Chief Executive Officer of Power Metal Resources
commented:
"The latest data and analysis from the exploration target report
covering ELO007330 and the historical Ajax mine demonstrate the
considerable potential for gold endowment at Ajax. As such, Ajax is
clearly a significant part of the strategic direction for the NBGC
business, and sits strikingly well with the recently acquired
EL005535, which covers the former producing Berringa mine.
In a world where many of our exploration peers are seeking gold
discoveries we are privileged to have within our footprint two
high-grade former producing gold mines that the RRAL team consider
to have been in the top tier of producing mines in Victoria.
As such, combined with RRAL's significant exploration footprint
of over 1,841km(2) , it also is project developer, with now two
advanced opportunities within the portfolio."
Overview:
Following the announcement on 24 May 2022, noting the grant of
the key licence EL007330 covering the historical Ajax mines, RRAL
staff have continued to work on refining exploration targets on
that licence.
Average mineralised lode thicknesses taken from the historical
literature have been set in a wireframe model and combined with
production and exploration information to create upper and lower
tonnage and grade estimates. The results from this work were
summarized in a report authored by Dave Holden titled, 'Exploration
Target, Ajax Line EL007330' (the "Report").
Exploration targets are a way to quantify the potential for any
exploration project. They are not resources or reserves and are
simply conceptual in nature. Determination of the targets requires
broad assumptions as there is often not enough information to
determine how much, if any, of the exploration potential will be
converted to mineral resource category.
They are a best guess based upon largely historical data and
give a sense of size and shape against which future exploration
decisions and subsequent funding can be determined. In the
exploration targets presented below no discount factor has been
applied nor has any mining recovery or price sensitive factors been
taken into consideration.
Drilling is required to assist in substantiating the accuracy of
the targets. Once the initial programme designed to validate the
models has been concluded, it may be possible to further refine the
targets and apply discount factors to better reflect the
probability of economic quantities present.
HIGHLIGHTS:
Ajax
-- The Report highlights initial exploration targets for
historical Ajax mines ranging from 254,318 to 1,422,443 tonnes, at
a grade range of 6.4 g/t to 18.7 g/t gold (Au), such tonnes and
grades being conceptual in nature.
-- Only near-term targets have been defined so far, with
additional targeting likely along strike and down plunge extensions
and potentially parallel reef systems to the east and at depth.
-- First phase of drilling at Ajax anticipated before end of 2022.
Lode plunge width Range Thickness Tonnes Grade Ounces
Target extent extent (m) (g/t) (Au)
(m) (m)
McMillans 600 150 lower 0.9 216,270 6.4 44,500
----------- --------- --------- -------- ---------- ---------- ------- --------
average 2 480,600 13.7 211,682
----------- --------- --------- -------- ---------- ---------- ------- --------
upper 3.7 889,110 21 600,281
----------- --------- --------- -------- ---------- ---------- ------- --------
Ajax 175 100 lower 0.3 14,018 6.4 2,884
----------- --------- --------- -------- ---------- ---------- ------- --------
average 1 46,725 12.2 18,327
----------- --------- --------- -------- ---------- ---------- ------- --------
upper 6.1 285,023 18 164,942
----------- --------- --------- -------- ---------- ---------- ------- --------
North 300 100 lower 0.3 24,030 6.4 4,944
----------- --------- --------- -------- ---------- ---------- ------- --------
average 0.75 60,075 8.7 16,803
----------- --------- --------- -------- ---------- ---------- ------- --------
upper 3.1 248,310 11 87,815
----------- --------- --------- -------- ---------- ---------- ------- --------
Weighted % totals lower 0.8 254,318 6.4 52,328
average 1.8 587,400 13.1 246,812
-------- ---------- ---------- ------- --------
upper 2.8 1,422,443 18.7 853,037
-------- ---------- ---------- ------- --------
Source: Exploration Target, Ajax Line EL 007330, Report by D
Holden, D Sharp and T Meehan, July 2022
Mt. Bute & O'Loughlins
-- Final results from the drilling programme covering the Mt.
Bute and O'Loughlins prospects have been received and are
summarised below. RRAL now moves to the evaluation and analysis of
the assay results which will be integrated with the lithological
and structural data collected by field geologists.
-- Mt. Bute drilling results have confirmed a coherent
mineralised structure; technical assessment in preparation for
second phase of exploration drilling now targeting an Intrusive
Related Gold (IRG) prospect .
FURTHER INFORMATION
Ajax Mine
Summary
The recent grant of key licence EL007330 has provided RRAL with
an advanced exploration prospect, being the Ajax Line of Prospects
("Ajax Line") located near to Daylesford, Australia.
A location map for the Ajax mine may be viewed through the
following link:
https://www.powermetalresources.com/ajax-mine-location/
Investigations into the historical mines located along the Ajax
Line is progressing quickly as the technical team moves towards the
commencement of a drilling programme aimed at validating the
significant quantity of historical data covering its first
near-mine exploration target.
This target has been further refined following the collection of
historical mine plans and workings which were then incorporated
into a 3D model. The model was further augmented with historical
mapping and production data catalogued by the Geological Survey of
Victoria, from the start of mining through to the first closure
around the 1930s. Untested down-plunge mineralisation has been
identified through this process and high-priority target zones have
been generated .
The Report 'Exploration Target, Ajax Line EL007330' by Dave
Holden is available on the Company's website (
https://www.powermetalresources.com/ajax-report/ ) or via the link
below:
http://www.rns-pdf.londonstockexchange.com/rns/4828U_1-2022-8-1.pdf
Mineralisation
The historical Ajax mines worked a series of nine stacked
reverse fault hosted lodes that dip between 45(o) and 90(o) to the
west (Whitelaw and Baragwanath, 1923).[1] The faults strike oblique
to bedding and consists of laminated quartz that is highly
mineralised in places. Mineralisation appears to occur in 'shoots'
within these fault systems which have been identified to
potentially correspond with favourable lithology. In the case of
the Ajax line, the shoots are associated with sandstone containing
thinner beds of shale (Whitelaw and Baragwanath, 1923). These lodes
have a variable thickness along strike. The following lode
thickness in the Ajax mine have been described and summarised by
Whitelaw and Baragwanath, 1923, below:
-- Ajax Lode: 1-6 feet (0.3-1.8m)
-- McMillans Lode: 3-10 feet (1-3m)
-- North Lode: 1-4 feet (0.3-1.2m)
At the Nuggetty and North Nuggetty Ajax mines, sub-horizontal
tensional veins, known locally as 'flat makes' occur. These veins
are up to 90m in width, 2m thick, and were mined for 340m in a
north-south direction (Baragwanath, 1923). These veins border the
west dipping faults and probably formed in a response to movement
along them (Mahar, 2002).[2] At the Ajax line, these veins increase
in abundance where the lithology is dominated by thicker sandstone
beds (Mahar, 2002). It is also worth noting that there is potential
for local gold enrichment at the intersection of the east and west
dipping faults at Ajax (Whitelaw and Baragwanath, 1923).
The 'flat makes' have not been included in the exploration
target, however, they are seen as unmeasured but could represent
possible positive additions to the existing target description
described herein. This breakdown between the west dipping faults
and 'flat makes' and their individual contribution to production is
an important task that the technical team is focussing on as more
data is recovered from the literature and implemented into the 3D
model.
It may be noted that the previous diamond drilling has indicated
that mineralisation extends into surrounding sandstone wall rock
containing little to no quartz veining. Petrographic examination of
the sediments revealed visible free gold associated with
disseminated pyrite aggregates containing an assemblage of
arsenopyrite, sphalerite and galena (Bravo, 2001).
In effect the zones suggest the lodes may be wider than
estimated for the exploration target outlined in the Report. It
also suggests that material stripped from within the earlier
workings during any plans to re-enter the former mines could be of
economic interest.
Production
Total gold production from the Daylesford goldfield to date is
estimated to be in excess of 1.29m ounces with primary gold
production amounting to 795,254 ounces.[3] Most of this gold
production has come from the Ajax and Cornish lines, with the Ajax
line producing around 312,789 ounces of gold at average grade of
14.8g/t and the Cornish line producing 182,000 oounces at an
average grade of 10.8g/t. The deepest mine within the Daylesford
goldfield was the Ajax Mine at 370.6m. Outside of the two main
lines, several other mines produced significant amounts of gold
including the Rising Star Mine (78,458 oz), Maxwell Consolidated
(21,989 ounces) and the Specimen Hill Mine (35,801 ounces).[4]
Exploration Targets
Determination of the exploration target outlined in the Report
relied primarily upon detailed descriptions of development and
production as recorded by the state of Victoria's mining
authorities of that time period. This information has been detailed
for every reported drive shaft and stope. It has been over 20 years
since any exploration drilling was conducted on the Ajax line of
workings and even then, only two drillholes have targetted beneath
the historical workings.
The width of the targets has been calculated based on average
lode thicknesses detailed by Whitelaw and Baragwanath, 1923, as
well as numerous Government Survey Bulletins and records.
Refinement of the widths continues as every known historical
working record is added to the 3D computer model.
The downdip extensions of these lodes were selected as targets
due to the historical mining of the lodes being stoped as west
dipping mineralised faults, also known as 'west dippers'. The
production on the welcome and nuggetty lode were primarily from the
'flat makes'. Although they do provide upside for future targeting,
following the down dip potential of endowed 'west dippers' are the
preferred first stage exploration approach.
The exploration target discussed in the Report is derived from
the approximations based upon the literature already reviewed which
were determined to match well with the descriptions from Whitelaw
and Baragwanth, 1923.
For the exploration target numerous level plans, longitudinal
and cross-sections have been incorporated into a 3D model. The
outlines of workings were then digitized into the 3D model
including the broad shape outlines of known stopes.
From the wireframe polygons of stopes and developments, the
volume of the three main lode structures was calculated using
Micromine mining software. The combined images of the lode
structures highlight the nature and extent of plunging shoots and
these have been followed to a distance past the last known
working.
Targeting at Ajax is based on following the down dip extension
from the historical stoping on the 'west dippers'. Ajax, North and
McMillans were selected as primary targets due to the historical
stoping occurring on the 'west dippers', whereas Nuggety and
Welcome lodes had stoping on the east dipping structures.
For each structure included in the model a normal specific
gravity (SG) of 2.67 g/cm(3) was applied to generate a total
tonnage. This SG correlates with the SG of quartz, which is the
primary vein material at Ajax, and is comparable to the SG
calculated for previous resource estimations completed at the
nearby Ballarat mine.
From this, maxima and minima for the width of lodes have been
calculated from the detailed work previously discussed as well as
an average width applied.
A breakdown of the different lode styles is currently being
considered as a way to further refine the exploration target. For
the exploration target presented herein, however, this has not been
included yet. Research continues to correlate the survey production
record back to the active mining. This information is all captured
in the text of the Government Survey and mine reports and bulletins
and over time, will be further integrated into the model to allow
more constrained approximation for grade and volume equivalent to a
post mining stope reconciliation.
Within the model, grade has been determined using a maxima
derived from production records for the historical mines and a
minima that has been defined as the current avarege production
grade from the nearby Ballarat mine.[5] The Ballarat mine is seen
as a strong analogue to the mineralisation at Ajax and assumes the
lower grade target expected would compare to the actual grade from
a larger producing mechanical mine where recovery and dilution has
been incorporated.
The range is further validated with an average grade of a
similar tenor to assays previously reported in both the underground
workings and results from the Continent Resources exploration
drilling completed in the 1990s.[6]
A detailed description including a table of the 1990s drilling
is contained in the paper previously published on and accessible
through the Company's website titled "Licence Report: EL007330"
with the title "Tenement Review and Exploration Strategy -
EL007330" which is found at the following link (
https://www.powermetalresources.com/wp-content/uploads/2020/10/2020-09-16-4499-EL007330-Daylesford.pdf
). A more detailed description of the methodology used to calculate
the Exploration Targets, and further information and diagrams, is
contained in the Report.
Ongoing work will allow RRAL to determine the grade distribution
and variation between lode styles and further constrain the maximum
and minimum grades of the initial exploration target.
The e xploration target tabled below and referred to throughout
this release is not to be considered as an estimate of a Mineral
Resource or Ore Reserve.[7] The potential quantity and grade is
conceptual in nature, and there has been insufficient exploration
to estimate a Mineral Resource. It is uncertain if further
exploration will result in the subsequent estimation of any Mineral
Resource.
It is the intention of the Company to test and confirm the
likelihood of the targets with upcoming drilling and the company
intends to be in a position to confirm the nature and extent of the
target on completion of the initial phase of drilling slated for
late 2022.
Exploration Strategy and Time Frames
Phase 1 (ongoing): Literature Search and Data Collation. Since
most of the mines on the Ajax line were operated by a large company
that kept excellent records, a large amount of data relating to
stoping and grades is publically available. The data from all these
records will continue to be collated to give a further
understanding of the grade distribution and average thickness of
stopes for the different lodes and style. The breakdown of
production levels between individual shear hosted lodes and flat
makes will also be determined. Continent Resources completed an
extensive data review in the late 1990's. This data will be
referenced where available.
Phase 2 (planned): Diamond drilling of preferred targets at a
spacing yet to be determined followed by the creation of
lithological models based on results achieved. This will assist in
identifying favourable zones for mineralisation. The key outcome
for the drilling will be to test the validity of the expulsion
Target as it stands. Variation to the expected outcome will also
help drive an update to the target and delineate further drilling
requirements.
Phase 3 (planned): Further infill drilling allowing for the
established of a inferred mineral resource. Drill spacing to be
determined once gold distribution and intersection repeatability
have been determined from the Phase 2 diamond drilling programme
and previous exploration drill programmes.
Mt. Bute Prospect Drilling Results
A total of three holes were drilled at Mt Bute. Results from
drillhole MB22D001 were released on 13 June 2022 and can be found
at the link below:
https://www.londonstockexchange.com/news-article/POW/victorian-goldfields-exploration-update/15492950
The results from the two remaining holes MB22D002 and MB22D003
are summarised below. In addition thin section analysis is also in
progress over a number of mineralisation samples identified at Mt.
Bute. The results have confirmed the presence of a coherent
mineralised structure which further confirms the possibility of IRG
mineralisation within the Victorian goldfields.
Hole MB22D002 Assay Table (Total Hole Depth 119.3m)
Hole ID Depth (m)
from Interval (m) Gold (g/t)
MB22D002 8.80 1 0.87 Incl. 0.5m@1.57g/t
18.30 0.5 0.89
24.40 0.5 0.63
28.40 1.5 0.17
31.35 0.5 0.17
32.85 1 0.26
35.85 0.5 0.1
40.65 3.9 0.37
49.30 4.4 0.21
56.20 0.5 2.12
57.20 0.5 0.13
58.20 1 0.16
59.70 1.5 0.18
61.70 2 0.17
64.70 1 0.19
66.20 9.1 0.31
77.25 1 0.14
79.25 0.5 0.3
85.8 1 0.45
87.3 0.5 0.27
89.15 0.5 0.15
90.85 4.3 0.38
101.00 4.5 0.39 Incl 0.5@1.12g/t
113.4 0.5 0.18
115.4 0.5 0.24
TABLE Hole MB22D003 Assay Table (Total Hole Depth 101.5m)
Hole ID Depth (m)
from Interval (m) Gold (g/t)
MB22D003 8.9 0.4 0.14
23.9 0.5 0.14
29.2 0.8 0.49
33.65 0.5 0.18
35.15 0.5 0.11
37.15 1.5 0.67 Incl 0.5m@1.06g/t Au
39.8 6.8 0.38 Incl 0.2@1.52g/t and 0.3@1.46g/t
47.5 0.5 0.23
48.5 0.5 0.33
50.65 0.4 0.14
51.55 0.5 0.15
52.55 0.5 1.29
56.4 0.95 0.17
58.45 0.5 0.11
59.45 0.25 0.41
62.6 1 0.26
64.1 0.5 0.30
66.1 2.15 0.43
68.75 0.5 0.44
69.75 0.5 0.17
70.75 0.5 0.15
71.75 0.5 0.14
73.3 0.3 0.11
74.6 0.45 0.20
75.35 0.4 0.13
76.25 3.35 0.46 Incl 0.4@1.68g/t
92.5 0.5 0.11
In total, 37% of all assays from MB22D002 assayed above 0.1 g/t
Au, and 46% of all assays from MB22D003 assayed above 0.1g/t Au -
indicating a significant thickness of low- to moderate-grade gold
mineralised samples.
O' Loughlins Prospect Drilling Results
Assays from the final drillhole at the O'Loughlin's prospect
(OL22D003) have also been received. No reportable results above
0.1g/t were encountered and as such the results have not been
included in this announcement. Initial evaluation of the
O'Loughlin's drilling has defined a lateral extent of the main
mineralised structure and additional field work including detailed
mapping to the east of the drilled structure is planned.
Conceptually, the mineralisation appears to be a bedding
parallel structure on the eastern limb of an anticline located away
from the hinge zone. More significant mineralisation may exist
closer to and within the hinge zone. Applying this structural model
will lead to better targeting at the prospect during the coming
period.
New Ballarat Gold Corporation:
NBGC holds a strong land position comprising fourteen (14)
granted exploration licences for a total of 1,841km(2) , located
entirely within the prolific gold fields of Victoria, Australia -
principally surrounding the mining centre of Ballarat, Australia.
Five (5) licences for a total of 493km(2) are still in the
application stage.
The company has carefully assembled its property portfolio to
comprise a broad range from robust exploration targets to near term
resource potential - all of which remain largely untested by modern
explorers.
With the first tenement within the portfolio granted only in
2021, NBGC has already conducted detailed exploration on multiple
targets to date. This includes diamond drill programmes designed to
test the O'Loughlin's (520m) and Mt. Bute (340m) prospects, which
commenced December 2021.
Granted Licences:
The fourteen granted and one purchased licence (EL005535) cover
high priority areas, covering 1,841km(2) as outlined below.
Licence Number Project Name Area (km2)
Buninyong
EL007271 (renamed) 133
-------------- --------------------
EL007281 Blue Chip 74
-------------- --------------------
EL007282 Blue Sky 489
-------------- --------------------
EL007285 Blue Ribbon 8
-------------- --------------------
EL007327 Dereel 60
-------------- --------------------
EL007385 Sardinia 4
-------------- --------------------
EL007329 Kilmore 484
-------------- --------------------
Pitfield/Mt.
EL007301 Bute 85
-------------- --------------------
EL007328 Blue Yonder 164
-------------- --------------------
State land
within EL007271 - [9]
EL007505
-------------- --------------------
State land
within EL007271 - [9]
EL007506
-------------- --------------------
State land
within EL007271 - [8]
EL007507
-------------- --------------------
Daylesford
EL007330 (renamed) 202
-------------- --------------------
Talbot
EL 007294 (renamed) 129
-------------- --------------------
EL 5535 Berringa 9
(228 net ha)
-------------- --------------------
Total 1,841
--------------------
Licence Applications:
RRAL has applications in process for five other new gold
exploration licence areas, covering 493 km(2) in the Victoria
Goldfields of Australia including:
License Application Project Name Area (km2)
Number
EL007540*
(3 competing
applications) Outer Ballarat 142
---------------- -----------
EL007756 Monmouth 22
---------------- -----------
State land Dereel (2) [3]
within EL007327
EL007799
---------------- -----------
EL007826 Ballarat East 4
---------------- -----------
EL007460 Kilmore West 325
---------------- -----------
TOTAL 493
-----------
*Balmaine Gold Pty Ltd, Mercator Gold Australia Pty Ltd, and
Loddon Gold Pty Ltd have put in competing applications the same day
as RRAL for the ground covered by EL007540. The application
considered to have greatest merit will eventually be given
priority.
The following applications have been made in Western Australia,
covering largely areas previously held by the Company at the time
of its original listing.
EL45/5859 Paterson 227
EL45/5885 Pilbara/Paterson 70
------------------ ----
COMPETENT PERSON STATEMENT
The technical information relating to the exploration results,
Exploration Target and the Report in this announcement has been
compiled by David Holden, BSc, MBA, MEM, who is a member of the
Australian Institute of Geoscientists and a director of NBGC, and
the Exploration Director of RRAL. He is a member of a recognised
professional organisation and has sufficient relevant experience to
qualify as a qualified person as defined in the Guidance Note for
Mining, Oil and Gas Companies, published by AIM. Mr Holden consents
to the inclusion of the technical information in the form and
context in which it appears.
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
For further information please visit
https://www.powermetalresources.com/ or contact:
Power Metal Resources plc
Paul Johnson (Chief Executive Officer) +44 (0) 7766 465 617
SP Angel Corporate Finance (Nomad and Joint Broker)
Ewan Leggat/Charlie Bouverat +44 (0) 20 3470 0470
SI Capital Limited (Joint Broker)
Nick Emerson +44 (0) 1483 413 500
First Equity Limited (Joint Broker)
David Cockbill/Jason Robertson +44 (0) 20 7330 1883
NOTES TO EDITORS
Power Metal Resources plc - Background
Power Metal Resources plc (LON:POW) is an AIM listed metals
exploration company which finances and manages global resource
projects and is seeking large scale metal discoveries.
The Company has a principal focus on opportunities offering
district scale potential across a global portfolio including
precious, base and strategic metal exploration in North America,
Africa and Australia.
Project interests range from early-stage greenfield exploration
to later-stage prospects currently subject to drill programmes.
Power Metal will develop projects internally or through
strategic joint ventures until a project becomes ready for disposal
through outright sale or separate listing on a recognised stock
exchange thereby crystallising the value generated from our
internal exploration and development work.
Value generated through disposals will be deployed internally to
drive the Company's growth or may be returned to shareholders
through share buy backs, dividends or in-specie distributions of
assets.
Exploration Work Overview
Power Metal has internal exploration programmes completed or
underway, with results awaited, as outlined in the table below.
Exploration work programmes may also be underway within planned
IPO vehicles where Power Metal has a material interest the findings
from which will be released on their respective websites, with
simultaneous updates through Power Metal regulatory announcements
where required:
www.firstclassmetalsplc.com
www.goldenmetalresources.com
www.firstdevelopmentresources.com
Power Metal also holds a material investment in Kavango
Resources plc with exploration updates available through their
regulatory announcements and on their website:
www.kavangoresources.com
Project Location Current Work Completed Results Awaited
POW or Underway
%
Athabasca Canada 100% Hyperspectral Finalise review of data
Uranium data analysis from 3 properties. Prepare
conducted across for summer exploration
7 properties. programme across 4 properties.
Updating to 7
data rooms for
third party review.
--------- --------- ---------------------- --------------------------------
Authier Canada Earn-in Property Evaluation Update covering exploration
North to 100% Report completed. plans for target areas
Lithium identified during the
Evaluation.
--------- --------- ---------------------- --------------------------------
Molopo Botswana 53%(#) Comprehensive Finalise next exploration
Farms data review complete steps and action plan.
and establishment
of data room
for third party
review.
--------- --------- ---------------------- --------------------------------
Tati Botswana 100% Site visit with Exploration planning
Project mapping of gold underway including further
workings and mapping, sampling and
mine dumps. launch of an RC drill
programme.
--------- --------- ---------------------- --------------------------------
(#) subject to completion of acquisition announced 18.5.22
interest will increase to 87.71%
[1] WHITELAW & BARAGWANATH, 1923. The Daylesford Goldfield.
GSV Bulletin No. 42.
[2] MAHER S. 2002. Economic Geology, in Castlemaine 1:100,000
Map Geological Report. GSV, in press
[3] MACDONALD, G., 2006. Continent Resources Pty Ltd. EL 3431,
Daylesford Project, Victoria. Annual report for the period ending
30 June 2006. Minerals and Petroleum Expired Exploration Reports
File.
[4] MACDONALD, G., 2006. Continent Resources Pty Ltd. EL 3431,
Daylesford Project, Victoria. Annual report for the period ending
30 June 2006. Minerals and Petroleum Expired Exploration Reports
File.
[5] Independent Qualified Persons Report for the Ballarat
Goldmine, Australia for Shen Yao Holdings Limited Singapore
Effective date 28 February 2021
[6] BRAVO, A.P., 2001. CONTINENT RESOURCES PTY LTD. EL 3431,
Daylesford Project - Central Victoria.. Annual report for the
period ending 15 May 2001. Report No AR3431-2001. Minerals and
Petroleum Expired Exploration Reports File
[7] Australasian Code for reporting of Exploration results,
Mineral Resources and Reserves - JORC 2012 Edition
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