TIDMORCP
RNS Number : 4100W
Oracle Power PLC
12 December 2023
12 December 2023
Oracle Power PLC
("Oracle", the "Company")
+100m Wide Gold Intercepts at Northern Zone Project
Oracle Power PLC (AIM:ORCP), is pleased to report that its
potential farm-in partner, Riversgold Ltd (ASX:RGL) ("RGL"), has
received the assay results from a diamond drilling programme at the
Northern Zone Intrusive Hosted Gold Project, which is located 26km
east of Kalgoorlie in Western Australia. Refer to Figure 1 for
location. The Riversgold news release can be viewed on its website
at www.riversgold.com.au .
Highlights:
o Diamond drilling of entire gold-mineralised central
cross-section to 450m vertical depth has validated previous
Exploration Model
o Previously announced Exploration Target of 200Mt - 250Mt at a
grade of 0.4 g/t Au - 0.6 g/t Au for an exploration target of
2.5Moz - 4.8Moz of gold
o High gold recovery of 92.9% (average) after 24-hour bottle
roll cyanide extraction(1)
o Drill programme has:
o Confirmed the gold mineralisation style
o Confirmed gold mineralisation widths and gold grades; and
o Structural orientation of the gold mineralisation
o Significant results from 2023 diamond drilling confirmation
programme include:
-- 110m at 0.60 g/t Au from 208m (RSDD02)
-- including 2m @ 2.64g/t Au from 208m,
-- 5m @ 3.03g/t Au from 221m
-- 1m @ 4.77g/t Au from 248m
-- 1m @ 5.26g/t Au from 262m
-- 13m @ 1.29g/t Au from 274m
-- 16.4m @ 0.45g/t Au from 83.6m (RSDD003)
-- 13m @ 0.48g/t Au from 135m (RSDD003)
-- 11m @ 0.49g/t Au from 197m (RSDD003)
-- 26m @ 0.44g/t Au from 231m (RSDD003
-- 47m at 0.48g/t Au from 216m (RSDD01)
-- including 1m at 4.74g/t Au from 244m
-- 1m at 4.04g/t Au from 262m
-- 8m at 0.55g/t Au from 127m (RSDD02)
-- 84m @ 0.42g/t Au from 315m (RSDD003)
-- including 3.32m @ 2.73g/t Au from 332m,
-- 4m @ 0.52g/t Au from 34m (RSDD04)
-- 8m @ 0.43g/t Au from 77m (RSDD04)
-- 4m @ 0.47g/t Au from 92m (RSDD04)
o Significant results from 2021 and prior RC drilling
include:
-- 154m at 0.58g/t Au from 98m (21OPRC004)
-- including 4m at 5.39g/t Au from 182m
-- 142m at 0.42g/t Au from 62m (BNRC081)
-- 330m at 0.49 g/t Au from 30m (BNRC066)
-- including 54.79m at 1.15g/t Au from 213m
-- 117.7m at 0.35g/t Au from 120.3m (BNRC034)
-- 66m at 0.89g/t Au from 30m (BNRC069)
-- 38m at 0.47g/t Au from 73m (BNRC084)
-- 29m at 1.84g/t Au from 33m (BNRC01)
Naheed Memon, CEO of Oracle, commented:
"With the Australian dollar gold price now pushing through
A$3,100 an ounce, the commerciality of these types of large-scale
lower grade gold deposits becomes significantly more viable. The
potential scale of this project linked to its good indicative
conventional gold recoveries and its great location, being so close
to Kalgoorlie, makes Northern Zone a highly attractive project to
drill out. The four diamond drill holes on this cross-section
confirmed the gold prospectivity of the Northern Zone Project and
we look forward to drilling further along strike to start building
a maiden JORC compliant resource early in the new year."
The Northern Zone Project has an Exploration Target of 200 to
250 million tonnes at a grade of 0.4 g/t to 0.6 g/t for an
Exploration Target of 2.5 to 4.8 million oz of gold, as announced
by RGL on 9 May 2023.
The announcement published by Riversgold today is set out below
without material adjustment and can be found at
https://www.riversgold.com.au .
Riversgold Limited (ASX: RGL, Riversgold or the Company)
announces that it has received the assay results from its maiden
diamond drilling program at the Northern Zone Intrusive Hosted Gold
Project located 25 km east of Kalgoorlie in Western Australia.
Refer to Figure 1 for location.
On the 9 May 2023, RGL announced the 80% earn-in to the Northern
Zone Gold Project with London listed Oracle Power Plc.(1) RGL
undertook a 4-hole diamond drill program for 1,379m (with
orientated core) to specifically test the exploration model of
+100m wide gold mineralisation. The drilling was completed on 21
August 2023 and all of the core was sent to ALS in Perth for core
photographs, cutting and assaying. Assays results have now been
received and interpreted and the work confirms the original
mineralisation model, style, widths and grades.
Oracle have been informed of these results and will be furnished
with the expenditure reports shortly that confirms the minimum
requirements have been met for the 80% earn-in.
Located 175km due north of Northern Zone, Saturn Metals Limited
has released a Preliminary Economic Assessment on the Apollo Hill
Gold project that has a resource of 105Mt @ 0.54g/t gold for
1.839Moz.(2) RGL views the Apollo project as an example of what we
are looking to achieve at Northern Zone, albeit with Northern Zone
being a potentially larger project.
Figure 1 : Northern Zone Project Map showing proximity to the
Kalgoorlie "Super Pit".
About North Zone Gold Project:
The Northern Zone Project is located 26km, east-south-east of
the Kalgoorlie Super Pit and is readily accessed from the Bulong
road, which is paved to within 9km of the prospect site. The last
9kms consists of 4km of a high-quality haul road with the last 5kms
on a station road. The topography is flat lying, open scrub with
several historical remnant gold and nickel excavation pits less
than 5 kms from the prospect site.
Drilling Contractor DDH1 completed the drilling at Northern Zone
using a combination of HQ3 and NQ2 diamond drilling. The core was
logged by contract geologists in Kalgoorlie, with oversight from
RGL geologists. The detailed logging has shown that a gold
mineralisation event has introduced significant micro-fracturing
and quartz veining, with significant thicknesses of alteration also
observed. A central cross section completed as proof of model has
validated (Figure 2) a portion of the project, with multiple
untested areas.
Figure 2 : Northern Zone drill collar plan highlighting
validated (red hatched) area, gold mineralised zones, central cross
section with untested areas. Mineralisation remains open in all
directions.
The diamond drilling mineralisation intersections (Figure 3)
show a thick east dipping zone of mineralisation across 21OPRC004,
RSDD002 & RSDD003. The hatched zones are the interpreted
mineralisation zones, with the main zone approximately 100m wide
and a vertical extent 375m and remaining open at depth.
The plan view shows the hole deviations, due to this deviation;
holes 21OPRC004 and RSDD002 indicate a minimum strike length of 70m
to the zone of mineralisation.
The lack of mineralisation within the main zone in RSDD001 is
inferred due to faulting. The intersection at depth in RSDD001
correlates with the lower zone.
Figure 3 : Northern Zone central Plan & Cross Section
(+/-50m) including RGL, Oracle and historic drill holes. (See
Figure 2 for section line)
Conceptually, the company sees similarities between North Zone
and Saturn Metals Apollo Hill project based on the information in
the PEA statement (ASX 7 August 2023) of a large low grade heap
leach operation; to further develop the concept the plans to:
-- Undertake further metallurgical test work to confirm the
amenability of the mineralization to leaching and develop initial
estimates of reagent consumption
-- Undertake further drilling towards defining a resource at
Northern Zone, with step out drilling on 100m X-sections especially
towards the untested southeast areas
This announcement has been authorised for release by the Board
of Riversgold Ltd.
Competent Persons Statement
The Information in this report that relates to exploration
results, exploration targets, mineral resources or ore reserves is
based on information compiled by Mr Allan Younger, who is a Member
of the Australasian Institute of Mining and Metallurgy. Mr Younger
is a consultant to the company. Mr Younger has sufficient
experience which is relevant to the style of mineralisation and
type of deposits under consideration and to the activity that he is
undertaking to qualify as a Competent Person as defined in the 2012
edition of the `Australian Code for Reporting Exploration Results,
Mineral Resources and Ore Reserves' (the JORC Code). Mr Younger
consents to the inclusion of this information in the form and
context in which it appears in this report.
(1) RGL ASX announcement 9 May 2023 "Farm into Significant
Porphyry Hosted Gold Project"
(2) STN ASX announcement 17 August 2023 "Updated Preliminary
Economic Assessment
**S**
For further information on Oracle Power Plc, visit the Company's
website http://www.oraclepower.co.uk or contact:
Oracle Power PLC
Naheed Memon - CEO +44 (0) 203 580 4314
Strand Hanson Limited (Nominated Adviser and Joint Broker)
Rory Murphy, Matthew Chandler, Rob Patrick +44 (0) 20 7409 3494
Global Investment Strategy UK Limited (Joint Broker)
Samantha Esqulant +44 (0) 20 7048 9432
St Brides Partners Limited (Financial PR)
Susie Geliher, Isabel de Salis +44 (0) 20 7236 1177
This announcement contains inside information for the purposes
of Article 7 of EU Regulation No. 596/2014, which forms part of
United Kingdom domestic law by virtue of the European (Withdrawal)
Act 2018.
APPIX 1: Drilling Information
Table 1 : Northern Zone Drill Collar Locations
Hole ID Hole MGA Easting MGA Northing NAT_RL Max Depth Dip Azi
Type
RSDD01 DD 381680.488 6592633.049 356.733 406 -60 215
------- ------------ ------------- -------- ---------- ---- ----
RSDD02 DD 381755.926 6592710.878 356.667 510.1 -60 215
------- ------------ ------------- -------- ---------- ---- ----
RSDD03 DD 381833.364 6592794.438 356.193 162.6 -60 215
------- ------------ ------------- -------- ---------- ---- ----
RSDD04 DD 381593.727 6592554.988 356.697 300.2 -60 215
------- ------------ ------------- -------- ---------- ---- ----
Table 2: Northern Zone Drill significant intercepts
Hole
Id Width Ave Grade From To Intercept
47m @ 0.48g/t
RSDD01 47 0.48 216 263 Au
------ ---------- ----- ------- ----------------
Incl 1 4.74 244 245
-------------- ------- ------ ---------- ----- ------- ----------------
Incl 1 4.04 262 263
-------------- ------- ------ ---------- ----- ------- ----------------
8m @ 0.55g/t
RSDD02 8 0.55 127 135 Au
------ ---------- ----- ------- ----------------
8m @ 0.31g/t
RSDD02 8 0.31 185 193 Au
------ ---------- ----- ------- ----------------
110m @ 0.6g/t
RSDD02 110 0.6 208 318 Au
------ ---------- ----- ------- ----------------
Incl 2 2.64 208 210
-------------- ------- ------ ---------- ----- ------- ----------------
Incl 5 3.03 221 226
-------------- ------- ------ ---------- ----- ------- ----------------
Incl 1 9.41 225 226
---------------------- ------ ---------- ----- ------- ----------------
Incl 1 4.77 248 249
-------------- ------- ------ ---------- ----- ------- ----------------
Incl 1 5.26 262 263
-------------- ------- ------ ---------- ----- ------- ----------------
Incl 13 1.29 274 287
-------------- ------- ------ ---------- ----- ------- ----------------
Incl 1 6.43 277 278
---------------------- ------ ---------- ----- ------- ----------------
8m @ 0.35g/t
RSDD02 8 0.35 355 363 Au
------ ---------- ----- ------- ----------------
16.4m @ 0.45g/t
RSDD03 16.4 0.45 83.6 100 Au
------ ---------- ----- ------- ----------------
13m @ 0.48g/t
RSDD03 13.01 0.48 135 148.01 Au
------ ---------- ----- ------- ----------------
11m @ 0.49g/t
RSDD03 11 0.49 197 208 Au
------ ---------- ----- ------- ----------------
26m @ 0.44g/t
RSDD03 26 0.44 231 257 Au
------ ---------- ----- ------- ----------------
Incl 1 5.44 332 333
-------------- ------- ------ ---------- ----- ------- ----------------
Incl 1 5.28 352 353
-------------- ------- ------ ---------- ----- ------- ----------------
84m @ 0.42g/t
RSDD03 84 0.42 315 399 Au
------ ---------- ----- ------- ----------------
Incl 3.32 2.73 332 335.32
-------------- ------- ------ ---------- ----- ------- ----------------
11m @ 0.45g/t
RSDD03 8 0.45 481 489 Au
------ ---------- ----- ------- ----------------
4m @ 0.52g/t
RSDD04 4 0.52 34 38 Au
------ ---------- ----- ------- ----------------
8m @ 0.43g/t
RSDD04 8 0.43 77 85 Au
------ ---------- ----- ------- ----------------
4m @ 0.47g/t
RSDD04 4 0.47 92 96 Au
------ ---------- ----- ------- ----------------
Table 3: Northern Zone Drill Assays >0.25g/t Au. (Values
>1g/t Au in bold)
Hole
ID From To Width Au As S%
RSDD01 40.2 41 0.8 1.64 1 0.03
------- ------- ------ ------ --- ------
RSDD01 42 43 1 0.773 1 0.1
------- ------- ------ ------ --- ------
RSDD01 73 74 1 2.08 2 0.03
------- ------- ------ ------ --- ------
RSDD01 74 75 1 0.946 1 0.03
------- ------- ------ ------ --- ------
RSDD01 112 113 1 0.648 2 0.66
------- ------- ------ ------ --- ------
RSDD01 117 118 1 2.89 2 2.26
------- ------- ------ ------ --- ------
RSDD01 128 129 1 0.279 1 0.69
------- ------- ------ ------ --- ------
RSDD01 173 174 1 0.281 2 0.31
------- ------- ------ ------ --- ------
RSDD01 174 175 1 0.362 3 0.34
------- ------- ------ ------ --- ------
RSDD01 177.5 178 0.5 0.354 2 0.17
------- ------- ------ ------ --- ------
RSDD01 195 196 1 0.269 3 0.08
------- ------- ------ ------ --- ------
RSDD01 197.53 198.5 0.97 0.262 1 0.55
------- ------- ------ ------ --- ------
RSDD01 198.5 199.5 1 0.333 2 0.51
------- ------- ------ ------ --- ------
RSDD01 216 217 1 0.72 3 0.81
------- ------- ------ ------ --- ------
RSDD01 217 218 1 1.63 4 0.32
------- ------- ------ ------ --- ------
RSDD01 224 225 1 2.6 2 0.81
------- ------- ------ ------ --- ------
RSDD01 230 231 1 1.92 3 0.25
------- ------- ------ ------ --- ------
RSDD01 238 239 1 0.727 4 0.79
------- ------- ------ ------ --- ------
RSDD01 240 241 1 0.274 3 0.23
------- ------- ------ ------ --- ------
RSDD01 244 245 1 4.74 2 0.85
------- ------- ------ ------ --- ------
RSDD01 248 249 1 0.386 4 0.55
------- ------- ------ ------ --- ------
RSDD01 249 250 1 0.412 2 0.34
------- ------- ------ ------ --- ------
RSDD01 252 253 1 0.371 4 0.43
------- ------- ------ ------ --- ------
RSDD01 254 255 1 1.67 1 0.49
------- ------- ------ ------ --- ------
RSDD01 258 259 1 0.379 1 0.33
------- ------- ------ ------ --- ------
RSDD01 259 260 1 0.316 1 0.13
------- ------- ------ ------ --- ------
RSDD01 260 261 1 0.278 1 0.32
------- ------- ------ ------ --- ------
RSDD01 262 263 1 4.04 1 1.03
------- ------- ------ ------ --- ------
RSDD01 273 274 1 0.696 1 0.1
------- ------- ------ ------ --- ------
RSDD01 280 281 1 1.78 1 1.02
------- ------- ------ ------ --- ------
RSDD01 281 282 1 0.478 1 0.46
------- ------- ------ ------ --- ------
RSDD01 284 285 1 0.531 2 0.62
------- ------- ------ ------ --- ------
RSDD02 77.7 79 1.3 0.327 2 0.005
------- ------- ------ ------ --- ------
RSDD02 122 123 1 0.423 1 0.09
------- ------- ------ ------ --- ------
RSDD02 127 128 1 0.386 2 0.31
------- ------- ------ ------ --- ------
RSDD02 128 129 1 1.02 1 0.37
------- ------- ------ ------ --- ------
RSDD02 131 132 1 1.37 2 0.66
------- ------- ------ ------ --- ------
RSDD02 132 133 1 0.281 2 0.37
------- ------- ------ ------ --- ------
RSDD02 134 135 1 1.005 1 0.15
------- ------- ------ ------ --- ------
RSDD02 138 139 1 0.274 2 0.14
------- ------- ------ ------ --- ------
RSDD02 165 166 1 1.51 1 0.23
------- ------- ------ ------ --- ------
RSDD02 176 177 1 1.265 1 0.28
------- ------- ------ ------ --- ------
RSDD02 185 186 1 0.347 1 0.29
------- ------- ------ ------ --- ------
RSDD02 186 187 1 0.333 1 0.15
------- ------- ------ ------ --- ------
RSDD02 190 191 1 1.015 1 0.1
------- ------- ------ ------ --- ------
RSDD02 192 193 1 0.401 1 0.04
------- ------- ------ ------ --- ------
RSDD02 208 209 1 4.92 1 0.1
------- ------- ------ ------ --- ------
RSDD02 209 210 1 0.364 1 0.33
------- ------- ------ ------ --- ------
RSDD02 214 215 1 0.887 2 0.28
------- ------- ------ ------ --- ------
RSDD02 221 222 1 2.03 2 0.28
------- ------- ------ ------ --- ------
RSDD02 222 223 1 0.59 1 0.4
------- ------- ------ ------ --- ------
RSDD02 223 224 1 0.326 1 0.47
------- ------- ------ ------ --- ------
RSDD02 224 225 1 2.81 2 0.47
------- ------- ------ ------ --- ------
RSDD02 225 226 1 9.41 1 0.34
------- ------- ------ ------ --- ------
RSDD02 226 227 1 0.256 1 0.33
------- ------- ------ ------ --- ------
RSDD02 232 233 1 0.259 2 0.42
------- ------- ------ ------ --- ------
RSDD02 238 239 1 0.37 3 0.4
------- ------- ------ ------ --- ------
RSDD02 239 240 1 0.711 4 0.67
------- ------- ------ ------ --- ------
RSDD02 240 241 1 0.784 3 0.56
------- ------- ------ ------ --- ------
RSDD02 241 242 1 0.283 6 0.52
------- ------- ------ ------ --- ------
RSDD02 242 243 1 0.503 8 0.61
------- ------- ------ ------ --- ------
RSDD02 244 245 1 2.74 1 0.65
------- ------- ------ ------ --- ------
RSDD02 246 247 1 0.26 2 0.45
------- ------- ------ ------ --- ------
RSDD02 247 248 1 0.334 3 0.42
------- ------- ------ ------ --- ------
RSDD02 248 249 1 4.77 2 0.85
------- ------- ------ ------ --- ------
RSDD02 249 250 1 0.252 2 0.88
------- ------- ------ ------ --- ------
RSDD02 259 260 1 0.84 2 0.24
------- ------- ------ ------ --- ------
RSDD02 262 263 1 5.26 2 0.07
------- ------- ------ ------ --- ------
RSDD02 264 265 1 0.51 1 0.19
------- ------- ------ ------ --- ------
RSDD02 270 271 1 0.281 3 0.2
------- ------- ------ ------ --- ------
RSDD02 271 272 1 0.689 3 0.16
------- ------- ------ ------ --- ------
RSDD02 273 274 1 0.73 3 0.47
------- ------- ------ ------ --- ------
RSDD02 274 275 1 1.095 4 0.57
------- ------- ------ ------ --- ------
RSDD02 275 276 1 2.21 3 0.65
------- ------- ------ ------ --- ------
RSDD02 276 277 1 0.733 4 0.67
------- ------- ------ ------ --- ------
RSDD02 277 278 1 6.43 4 0.96
------- ------- ------ ------ --- ------
RSDD02 278 279 1 0.356 2 0.27
------- ------- ------ ------ --- ------
RSDD02 280 281 1 0.532 2 0.27
------- ------- ------ ------ --- ------
RSDD02 281 282 1 0.735 2 0.38
------- ------- ------ ------ --- ------
RSDD02 282 283 1 1.395 4 0.56
------- ------- ------ ------ --- ------
RSDD02 285 286 1 2.49 1 0.45
------- ------- ------ ------ --- ------
RSDD02 286 287 1 0.447 1 0.29
------- ------- ------ ------ --- ------
RSDD02 289 290 1 0.376 2 0.53
------- ------- ------ ------ --- ------
RSDD02 297 298 1 0.29 2 0.24
------- ------- ------ ------ --- ------
RSDD02 298 299 1 0.532 3 0.31
------- ------- ------ ------ --- ------
RSDD02 301 302 1 0.72 4 0.62
------- ------- ------ ------ --- ------
RSDD02 306 307 1 0.423 1 1.88
------- ------- ------ ------ --- ------
RSDD02 307 308 1 0.589 1 1.22
------- ------- ------ ------ --- ------
RSDD02 315 316 1 0.605 2 1.12
------- ------- ------ ------ --- ------
RSDD02 316 317 1 0.423 1 1.15
------- ------- ------ ------ --- ------
RSDD02 346 347 1 1.26 1 0.4
------- ------- ------ ------ --- ------
RSDD02 356 357 1 0.311 3 0.67
------- ------- ------ ------ --- ------
RSDD02 357 358 1 0.314 1 0.45
------- ------- ------ ------ --- ------
RSDD02 359 360 1 1.015 1 0.16
------- ------- ------ ------ --- ------
RSDD02 362 363 1 0.811 1 0.21
------- ------- ------ ------ --- ------
RSDD02 365 366 1 0.33 1 0.17
------- ------- ------ ------ --- ------
RSDD02 388 389 1 0.268 1 0.66
------- ------- ------ ------ --- ------
RSDD03 83.6 85 1.4 0.431 2 0.02
------- ------- ------ ------ --- ------
RSDD03 85 86 1 0.306 1 0.03
------- ------- ------ ------ --- ------
RSDD03 86 87 1 0.312 2 0.04
------- ------- ------ ------ --- ------
RSDD03 88 89 1 1.87 1 0.15
------- ------- ------ ------ --- ------
RSDD03 89 90 1 0.309 1 0.06
------- ------- ------ ------ --- ------
RSDD03 91 92 1 0.397 2 0.03
------- ------- ------ ------ --- ------
RSDD03 92 93 1 0.592 3 0.09
------- ------- ------ ------ --- ------
RSDD03 96 97 1 0.459 2 0.03
------- ------- ------ ------ --- ------
RSDD03 97 98 1 0.477 1 0.1
------- ------- ------ ------ --- ------
RSDD03 98 99 1 0.556 2 0.14
------- ------- ------ ------ --- ------
RSDD03 99 100 1 0.796 1 0.28
------- ------- ------ ------ --- ------
RSDD03 105 106 1 0.254 1 0.16
------- ------- ------ ------ --- ------
RSDD03 112 113 1 0.909 2 1.02
------- ------- ------ ------ --- ------
RSDD03 113 114 1 0.271 1 0.36
------- ------- ------ ------ --- ------
RSDD03 135 136.01 1.01 1.94 1 0.38
------- ------- ------ ------ --- ------
RSDD03 136.01 137 0.99 1.795 1 0.35
------- ------- ------ ------ --- ------
RSDD03 138 138.98 0.98 0.362 1 0.24
------- ------- ------ ------ --- ------
RSDD03 141.98 143 1.02 0.308 1 0.14
------- ------- ------ ------ --- ------
RSDD03 144 145 1 0.949 1 0.16
------- ------- ------ ------ --- ------
RSDD03 147 148.01 1.01 0.338 1 0.21
------- ------- ------ ------ --- ------
RSDD03 157 158 1 0.984 1 0.66
------- ------- ------ ------ --- ------
RSDD03 176 177 1 0.458 1 0.31
------- ------- ------ ------ --- ------
RSDD03 183 184 1 0.382 1 0.12
------- ------- ------ ------ --- ------
RSDD03 197 198 1 1.37 1 0.28
------- ------- ------ ------ --- ------
RSDD03 198 199 1 0.811 2 0.12
------- ------- ------ ------ --- ------
RSDD03 199 200 1 0.297 1 0.22
------- ------- ------ ------ --- ------
RSDD03 200 201 1 0.29 1 0.44
------- ------- ------ ------ --- ------
RSDD03 203 204 1 1.3 1 0.51
------- ------- ------ ------ --- ------
RSDD03 206 207 1 0.417 1 0.18
------- ------- ------ ------ --- ------
RSDD03 207 208 1 0.479 1 0.19
------- ------- ------ ------ --- ------
RSDD03 210 211 1 0.329 1 0.43
------- ------- ------ ------ --- ------
RSDD03 217 218 1 0.303 1 0.15
------- ------- ------ ------ --- ------
RSDD03 223 224 1 0.565 1 0.18
------- ------- ------ ------ --- ------
RSDD03 231 232 1 0.309 2 0.3
------- ------- ------ ------ --- ------
RSDD03 233 234 1 1.58 1 0.66
------- ------- ------ ------ --- ------
RSDD03 239 240 1 0.497 1 0.25
------- ------- ------ ------ --- ------
RSDD03 246 247 1 0.971 2 0.56
------- ------- ------ ------ --- ------
RSDD03 248 249 1 1.53 1 0.29
------- ------- ------ ------ --- ------
RSDD03 252 253 1 3.83 1 0.54
------- ------- ------ ------ --- ------
RSDD03 253 254 1 0.364 2 0.25
------- ------- ------ ------ --- ------
RSDD03 256 257 1 0.31 2 0.58
------- ------- ------ ------ --- ------
RSDD03 283 284 1 0.613 4 0.98
------- ------- ------ ------ --- ------
RSDD03 286 287 1 0.302 4 0.77
------- ------- ------ ------ --- ------
RSDD03 294.08 295 0.92 0.302 3 0.35
------- ------- ------ ------ --- ------
RSDD03 311 312 1 0.577 2 0.41
------- ------- ------ ------ --- ------
RSDD03 315 316 1 0.764 2 0.26
------- ------- ------ ------ --- ------
RSDD03 318 319 1 0.317 1 0.14
------- ------- ------ ------ --- ------
RSDD03 319 319.68 0.68 0.266 2 0.38
------- ------- ------ ------ --- ------
RSDD03 320.65 321.59 0.94 0.349 2 0.3
------- ------- ------ ------ --- ------
RSDD03 324 325 1 0.36 1 0.37
------- ------- ------ ------ --- ------
RSDD03 327 328 1 0.755 1 0.33
------- ------- ------ ------ --- ------
RSDD03 332 333 1 5.44 1 0.29
------- ------- ------ ------ --- ------
RSDD03 333.88 334.48 0.6 4.44 2 0.62
------- ------- ------ ------ --- ------
RSDD03 334.48 335.32 0.84 1.07 1 0.48
------- ------- ------ ------ --- ------
RSDD03 337 338 1 0.342 2 0.35
------- ------- ------ ------ --- ------
RSDD03 338 339 1 0.263 3 0.12
------- ------- ------ ------ --- ------
RSDD03 339 340 1 1.7 2 0.28
------- ------- ------ ------ --- ------
RSDD03 342 343 1 0.829 1 0.5
------- ------- ------ ------ --- ------
RSDD03 343 344 1 0.476 1 0.29
------- ------- ------ ------ --- ------
RSDD03 346 347 1 1.035 1 0.31
------- ------- ------ ------ --- ------
RSDD03 348 349 1 0.425 2 0.44
------- ------- ------ ------ --- ------
RSDD03 350 351 1 0.95 2 0.22
------- ------- ------ ------ --- ------
RSDD03 351 352 1 0.54 1 0.33
------- ------- ------ ------ --- ------
RSDD03 352 353 1 5.28 1 0.45
------- ------- ------ ------ --- ------
RSDD03 358 359.61 1.61 0.739 1 0.17
------- ------- ------ ------ --- ------
RSDD03 359.61 360 0.39 0.433 1 0.58
------- ------- ------ ------ --- ------
RSDD03 365 366 1 0.316 2 0.25
------- ------- ------ ------ --- ------
RSDD03 370 371 1 1.02 1 0.25
------- ------- ------ ------ --- ------
RSDD03 374 375 1 0.343 2 0.68
------- ------- ------ ------ --- ------
RSDD03 382 383 1 0.63 1 0.64
------- ------- ------ ------ --- ------
RSDD03 384.48 385 0.52 0.296 1 0.59
------- ------- ------ ------ --- ------
RSDD03 385.45 386.14 0.69 0.665 1 0.71
------- ------- ------ ------ --- ------
RSDD03 386.14 387 0.86 0.377 1 0.38
------- ------- ------ ------ --- ------
RSDD03 393 394 1 0.483 2 0.43
------- ------- ------ ------ --- ------
RSDD03 395 396 1 0.277 1 0.96
------- ------- ------ ------ --- ------
RSDD03 398 399 1 1.54 1 0.76
------- ------- ------ ------ --- ------
RSDD03 399 400 1 0.253 2 0.53
------- ------- ------ ------ --- ------
RSDD03 408 408.68 0.68 0.374 2 0.49
------- ------- ------ ------ --- ------
RSDD03 413.78 414.37 0.59 0.279 1 0.62
------- ------- ------ ------ --- ------
RSDD03 441 442 1 0.332 2 0.46
------- ------- ------ ------ --- ------
RSDD03 443 444 1 0.293 1 0.33
------- ------- ------ ------ --- ------
RSDD03 446 447 1 0.354 1 0.23
------- ------- ------ ------ --- ------
RSDD03 447 448 1 0.349 2 0.26
------- ------- ------ ------ --- ------
RSDD03 454 455 1 2.72 1 0.57
------- ------- ------ ------ --- ------
RSDD03 471 472 1 0.402 1 0.13
------- ------- ------ ------ --- ------
RSDD03 472 473 1 0.374 1 0.3
------- ------- ------ ------ --- ------
RSDD03 475 476 1 0.656 1 0.1
------- ------- ------ ------ --- ------
RSDD03 481 482 1 0.45 1 0.27
------- ------- ------ ------ --- ------
RSDD03 486 487 1 1.285 1 0.52
------- ------- ------ ------ --- ------
RSDD03 487 488 1 0.386 1 0.32
------- ------- ------ ------ --- ------
RSDD03 488 489 1 0.372 1 0.43
------- ------- ------ ------ --- ------
RSDD04 34 35 1 0.756 10 0.02
------- ------- ------ ------ --- ------
RSDD04 35 36 1 0.536 1 0.01
------- ------- ------ ------ --- ------
RSDD04 36 37 1 0.374 3 0.04
------- ------- ------ ------ --- ------
RSDD04 37 38 1 0.394 1 0.03
------- ------- ------ ------ --- ------
RSDD04 77 78 1 2.18 2 0.01
------- ------- ------ ------ --- ------
RSDD04 81 82 1 0.33 4 0.21
------- ------- ------ ------ --- ------
RSDD04 84 85 1 0.277 3 0.1
------- ------- ------ ------ --- ------
RSDD04 92 93 1 0.692 5 1.2
------- ------- ------ ------ --- ------
RSDD04 93 94 1 0.499 2 1.62
------- ------- ------ ------ --- ------
RSDD04 95 96 1 0.67 2 1.9
------- ------- ------ ------ --- ------
RSDD04 104 105 1 0.661 1 0.32
------- ------- ------ ------ --- ------
RSDD04 124 125 1 0.509 1 0.21
------- ------- ------ ------ --- ------
RSDD04 136 137 1 0.762 1 0.41
------- ------- ------ ------ --- ------
RSDD04 146 147 1 0.376 3 0.3
------- ------- ------ ------ --- ------
RSDD04 152 153 1 0.656 6 3.15
------- ------- ------ ------ --- ------
RSDD04 157 158 1 0.353 1 0.25
------- ------- ------ ------ --- ------
APPIX 2.
The following Tables are provided to ensure compliance with the
JORC Code (2012 Edition) requirements for the reporting of
Exploration Results at Northern Zone.
Section 1: Sampling Techniques and Data
(Criteria in this section applies to all succeeding
sections)
Criteria JORC Code explanation Commentary
Sampling
techniques * Nature and quality of sampling (eg cut channels, * The samples were whole core HQ3 or NQ2 sized, with
random chips, or specific specialised industry roller pre-collars.
standard measurement tools appropriate to the
minerals under investigation, such as down hole gamma
sondes, or handheld XRF instruments, etc). These
examples should not be taken as limiting the broad
meaning of sampling.
* Include reference to measures taken to ensure sample
representivity and the appropriate calibration of any
measurement tools or systems used.
* Aspects of the determination of mineralisation that
are Material to the Public Report.
* In cases where 'industry standard' work has been done
this would be relatively simple (eg 'reverse
circulation drilling was used to obtain 1 m samples
from which 3 kg was pulverised to produce a 30 g
charge for fire assay'). In other cases more
explanation may be required, such as where there is
coarse gold that has inherent sampling problems.
Unusual commodities or mineralisation types (eg
submarine nodules) may warrant disclosure of detailed
information.
------------------------------------------------------------ ---------------------------------------------------------------
Drilling
techniques * Drill type (eg core, reverse circulation, open-hole * Diamond core HQ3 or NQ2 sized, with roller
hammer, rotary air blast, auger, Bangka, sonic, etc) pre-collars. The core has been oriented with standard
and details (eg core diameter, triple or standard and modern down hole orientation techniques.
tube, depth of diamond tails, face-sampling bit or
other type, whether core is oriented and if so, by
what method, etc).
------------------------------------------------------------ ---------------------------------------------------------------
Drill sample
recovery * Method of recording and assessing core and chip * Recovery logs were recorded by the field geologist.
sample recoveries and results assessed. Recovery was excellent even through broken ground.
* Measures taken to maximise sample recovery and ensure
representative nature of the samples.
* Whether a relationship exists between sample recovery
and grade and whether sample bias may have occurred
due to preferential loss/gain of fine/coarse
material.
------------------------------------------------------------ ---------------------------------------------------------------
Logging
* Whether core and chip samples have been geologically * The core has been professionally logged by Kalgoorlie
and geotechnically logged to a level of detail to based consultant and contract geologists with
support appropriate Mineral Resource estimation, oversight from RGL geologists. 100% of the core has
mining studies and metallurgical studies. been logged.
* Whether logging is qualitative or quantitative in
nature. Core (or costean, channel, etc) photography.
* The total length and percentage of the relevant
intersections logged.
------------------------------------------------------------ ---------------------------------------------------------------
Sub-sampling
techniques * If core, whether cut or sawn and whether quarter, * The core has been sampled as half core at the
and sample half or all core taken. completion of full geological and structural logging.
preparation
* If non-core, whether riffled, tube sampled, rotary .
split, etc and whether sampled wet or dry.
* For all sample types, the nature, quality and
appropriateness of the sample preparation technique.
* Quality control procedures adopted for all
sub-sampling stages to maximise representivity of
samples.
* Measures taken to ensure that the sampling is
representative of the in situ material collected,
including for instance results for field
duplicate/second-half sampling.
* Whether sample sizes are appropriate to the grain
size of the material being sampled.
------------------------------------------------------------ ---------------------------------------------------------------
Quality
of assay * The nature, quality and appropriateness of the * ALS (Perth) were used for all analysis of drill
data and assaying and laboratory procedures used and whether samples submitted by RGL. The laboratory techniques
laboratory the technique is considered partial or total. below are for all samples submitted to ALS and are
tests considered appropriate for the style of
mineralisation defined within the Northern Zone
* For geophysical tools, spectrometers, handheld XRF Project area:
instruments, etc, the parameters used in determining
the analysis including instrument make and model,
reading times, calibrations factors applied and their * Pulverise to 95% passing 75 microns
derivation, etc.
* 4 Acid Digest (ME-ICP41) - Ag, Al, As, Ba, Be, Bi, Ca,
* Nature of quality control procedures adopted (eg Cd, Co, Cr, Cu, Fe, Ga, K, La, Mg, Mn, Mo, Na, Ni, P,
standards, blanks, duplicates, external laboratory Pb, S, Sb, Sc, Sr, Th, Ti, Tl, U, V, W, Zn.
checks) and whether acceptable levels of accuracy (ie
lack of bias) and precision have been established.
* Au-ICP22 - Au.
* Ore Grade 4 Acid Digest ICP-AES Finish (Au-GRA22)
* Standards were used for external laboratory checks by
RGL.
* Duplicates were used for external laboratory checks
by RGL.
------------------------------------------------------------ ---------------------------------------------------------------
Verification
of sampling * The verification of significant intersections by * Intercepts were reviewed by 2 company personnel.
and assaying either independent or alternative company personnel.
* The use of twinned holes.
* Documentation of primary data, data entry procedures,
data verification, data storage (physical and
electronic) protocols.
* Discuss any adjustment to assay data.
------------------------------------------------------------ ---------------------------------------------------------------
Location
of data * Accuracy and quality of surveys used to locate drill * The collar position of each hole was recorded using
points holes (collar and down-hole surveys), trenches, mine handheld GPS. The down hole survey data was taken at
workings and other locations used in Mineral Resource 30m using standard down hole gyro tools.
estimation.
* Specification of the grid system used.
* Quality and adequacy of topographic control.
------------------------------------------------------------ ---------------------------------------------------------------
Data spacing
and * Data spacing for reporting of Exploration Results. * The holes were drilled on a single section, between
distribution existing RC holes. This spacing is sufficient to
establish grade and geological continuity of this
* Whether the data spacing and distribution is particular drill section.
sufficient to establish the degree of geological and
grade continuity appropriate for the Mineral Resource
and Ore Reserve estimation procedure(s) and
classifications applied.
* Whether sample compositing has been applied.
------------------------------------------------------------ ---------------------------------------------------------------
Orientation
of data * Whether the orientation of sampling achieves unbiased * RGL is yet to drill further sections. Based on
in relation sampling of possible structures and the extent to logging of diamond core the section and drill holes
to which this is known, considering the deposit type. appear to be orientated perpendicular to strike and
geological dip of the main mineralised structures.
structure
* If the relationship between the drilling orientation
and the orientation of key mineralised structures is
considered to have introduced a sampling bias, this
should be assessed and reported if material.
------------------------------------------------------------ ---------------------------------------------------------------
Sample
security * The measures taken to ensure sample security. * The core was collected from the rig by BMGS contract
geologists and stored securely in their Kalgoorlie
yard where it was logged. The core was then strapped
and wrapped and shipped via commercial transport to
ALS in Perth.
------------------------------------------------------------ ---------------------------------------------------------------
Audits
or reviews * The results of any audits or reviews of sampling * Data reviews will be conducted when all of the final
techniques and data. assay results have been received from the lab.
------------------------------------------------------------ ---------------------------------------------------------------
Section 2: Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this
section)
Criteria JORC Code explanation Commentary
Mineral
tenement * Type, reference name/number, location and ownership * The Northern Zone Project is comprised of one granted
and land including agreements or material issues with third prospecting licence (P25/2651) which covers an area
tenure status parties such as joint ventures, partnerships, of 82 hectares, and is held in the name of Oracle
overriding royalties, native title interests, Gold (WA) Pty Ltd.
historical sites, wilderness or national park and
environmental settings.
* RGL are farming into the Tenement and have committing
to spend $600,000 in exploration expenditure on the
* The security of the tenure held at the time of tenement within the next two years. After Riversgold
reporting along with any known impediments to achieves 80% ownership, Oracle will be required to
obtaining a licence to operate in the area. contribute pro-rata or dilute.
--------------------------------------------------------------- --------------------------------------------------------------
Exploration
done by * Acknowledgment and appraisal of exploration by other * See reference in the body of the announcement.
other parties parties.
* The majority of previous exploration in the area was
by Northern Mining during 2007 to 2012 under the
Blair North project, multiple small resource areas
were identified at the George's Reward area to the
south of P25/2651. Numerous intersections were made
within the area of the PL including BNRC066 listed
below.
--------------------------------------------------------------- --------------------------------------------------------------
Geology
* Deposit type, geological setting and style of * The deposit sought is (Intrusion Related Gold System
mineralisation. (IRGS) style of mineral deposit.
--------------------------------------------------------------- --------------------------------------------------------------
Drill hole
Information * A summary of all information material to the * Refer to Tables and Figures within the body of the
understanding of the exploration results including a release.
tabulation 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
aggregation * In reporting Exploration Results, weighting averaging * Intersections are weighted average grades based on a
methods techniques, maximum and/or minimum grade truncations 0.001 g/t Au cut-off with unlimited waste zones but
(eg cutting of high grades) and cut-off grades are with a targeted grade of 0.4-0.6g/t Au.
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.
--------------------------------------------------------------- --------------------------------------------------------------
Relationship
between * These relationships are particularly important in the * The diamond drilling confirmed the apparent widths of
mineralisation reporting of Exploration Results. mineralization intersection in the RC drilling. The
widths and true width of mineralization is still to be fully
intercept ascertained.
lengths * If the geometry of the mineralisation with respect to
the drill hole angle is known, its nature should be
reported.
* If it is not known and only the down hole lengths are
reported, there should be a clear statement to this
effect (eg 'down hole length, true width not known').
--------------------------------------------------------------- --------------------------------------------------------------
Diagrams
* Appropriate maps and sections (with scales) and * See body of the announcement for relevant diagrams
tabulations of intercepts should be included for any and photos.
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
reporting * Where comprehensive reporting of all Exploration * The reporting of exploration results is considered
Results is not practicable, representative reporting balanced by the competent person.
of both low and high grades and/or widths should be
practiced to avoid misleading reporting of
Exploration Results.
--------------------------------------------------------------- --------------------------------------------------------------
Other * See body of the announcement
substantive * Other exploration data, if meaningful and material,
exploration should be reported including (but not limited to):
data geological observations; geophysical survey results;
geochemical survey results; bulk samples - size and
method of treatment; metallurgical test results; bulk
density, groundwater, geotechnical and rock
characteristics; potential deleterious or
contaminating substances.
--------------------------------------------------------------- --------------------------------------------------------------
Further
work * The nature and scale of planned further work (eg * The initial aims of the first phase of diamond
tests for lateral extensions or depth extensions or drilling exploration at Northern Zone has confirmed
large-scale step-out drilling). the mineralisation style, confirmed the very wide
widths of mineralisation, and confirmed gold grades
and gold distribution.
* Diagrams clearly highlighting the areas of possible
extensions, including the main geological
interpretations and future drilling areas, provided * Follow up phases to test strike to be undertaken.
this information is not commercially sensitive.
* Core from phase 1 to allow for further metallurgical
studies.
--------------------------------------------------------------- --------------------------------------------------------------
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