Resources & Reserves
Mineral Resource Estimate for the Kundip Mining Centre - February 2023
| Deposit | Indicated | Inferred | Total Resources | |||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| kt | Au | Au | Ag | Ag | Cu | Cu | kt | Au | Au | Ag | Ag | Cu | Cu | kt | Au | Au | Ag | Ag | Cu | Cu | ||
| g/t | koz | g/t | koz | % | kt | g/t | koz | g/t | koz | % | kt | g/t | koz | g/t | koz | % | kt | |||||
| Open pit COG 0.5g/t AuEq (Flag 0.5g/t Au) | Gem | 7,840 | 1.6 | 400 | 1.5 | 380 | 0.1 | 10 | 2,820 | 1.9 | 170 | 1.5 | 140 | 0.1 | 4 | 10,650 | 1.7 | 570 | 1.5 | 520 | 0.1 | 14 |
| Harbour View | 2,180 | 2.0 | 140 | 3.1 | 220 | 0.6 | 13 | 1,010 | 1.5 | 50 | 2.8 | 90 | 0.4 | 4 | 3,190 | 1.8 | 190 | 3.0 | 310 | 0.6 | 18 | |
| Flag | 730 | 4.4 | 100 | 4.4 | 100 | 0.5 | 4 | 220 | 2.4 | 20 | 2.7 | 20 | 0.2 | 1 | 950 | 3.9 | 120 | 4.0 | 120 | 0.4 | 4 | |
Gem Restored | 470 | 2.0 | 30 | 2.7 | 40 | 0.2 | 1 | 340 | 1.3 | 10 | 2.1 | 20 | 0.2 | 1 | 800 | 1.7 | 40 | 2.5 | 60 | 0.2 | 2 | |
Gift | 190 | 1.6 | 10 | 1.7 | 10 | 0.3 | 1 | 1,070 | 1.4 | 50 | 1.1 | 40 | 0.1 | 1 | 1,260 | 1.4 | 60 | 1.2 | 50 | 0.1 | 1 | |
| Underground COG 2.0g/t AuEq | Gem | - | 2.9 | - | 2.4 | - | 0.2 | 0 | 300 | 6.4 | 60 | 3.1 | 30 | 0.4 | 1.3 | 300 | 6.4 | 60 | 3.1 | 30 | 0.4 | 1.3 |
| Harbour View | 470 | 3.7 | 60 | 6.8 | 100 | 1.2 | 6 | 770 | 2.1 | 50 | 7.3 | 180 | 0.8 | 6 | 1,240 | 2.7 | 110 | 7.1 | 280 | 1.0 | 12 | |
| Flag | 140 | 5.2 | 20 | 4.9 | 20 | 0.4 | 1 | 410 | 5.0 | 70 | 5.1 | 70 | 0.4 | 1 | 550 | 5.1 | 90 | 5.0 | 90 | 0.4 | 2 | |
Gem Restored | 80 | 7.2 | 20 | 9.0 | 20 | 1.0 | 1 | 180 | 5.6 | 30 | 7.1 | 40 | 0.7 | 1 | 260 | 6.1 | 50 | 7.7 | 60 | 0.8 | 2 | |
Gift | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| GrandTotal | 12,110 | 2.0 | 790 | 2.3 | 900 | 0.3 | 36 | 7,110 | 2.2 | 510 | 2.7 | 620 | 0.3 | 20 | 19,210 | 2.1 | 1,290 | 2.5 | 1,520 | 0.3 | 56 | |
| Gem | 7,840 | 1.6 | 400 | 1.5 | 380 | 0.1 | 10 | 3,110 | 2.3 | 230 | 1.7 | 170 | 0.2 | 5 | 10,950 | 1.8 | 630 | 1.6 | 550 | 0.1 | 15 | |
| Harbour View | 2,650 | 2.3 | 200 | 3.7 | 320 | 0.7 | 19 | 1,780 | 1.7 | 100 | 4.7 | 270 | 0.6 | 10 | 4,430 | 2.1 | 290 | 4.1 | 590 | 0.7 | 29 | |
| Flag | 870 | 4.5 | 130 | 4.4 | 120 | 0.5 | 4 | 630 | 4.1 | 80 | 4.2 | 90 | 0.3 | 2 | 1,500 | 4.3 | 210 | 4.4 | 210 | 0.4 | 6 | |
| Gem Restored | 550 | 2.8 | 50 | 3.7 | 70 | 0.3 | 2 | 510 | 2.7 | 50 | 3.8 | 60 | 0.3 | 2 | 1,060 | 2.8 | 90 | 3.7 | 130 | 0.3 | 4 | |
| Gift | 190 | 1.6 | 10 | 1.7 | 10 | 0.3 | 1 | 1,070 | 1.4 | 50 | 1.1 | 40 | 0.1 | 1 | 1,260 | 1.4 | 60 | 1.2 | 50 | 0.1 | 1 | |
| GrandTotal | 12,110 | 2.0 | 790 | 2.3 | 900 | 0.3 | 36 | 7,110 | 2.2 | 510 | 2.7 | 620 | 0.3 | 20 | 19,210 | 2.1 | 1,290 | 2.5 | 1,520 | 0.3 | 56 | |
| Open pit | 11,400 | 1.9 | 690 | 2.0 | 750 | 0.3 | 29 | 5,460 | 1.7 | 290 | 1.7 | 300 | 0.2 | 10 | 16,860 | 1.8 | 980 | 1.9 | 1,060 | 0.2 | 38 | |
| Underground | 710 | 4.4 | 100 | 6.7 | 150 | 1.0 | 7 | 1,650 | 4.0 | 210 | 6.0 | 320 | 0.6 | 10 | 2,350 | 4.1 | 310 | 6.2 | 470 | 0.7 | 17 | |
| GrandTotal | 12,110 | 2.0 | 790 | 2.3 | 900 | 0.3 | 36 | 7,110 | 2.2 | 510 | 2.7 | 620 | 0.3 | 20 | 19,210 | 2.1 | 1,290 | 2.5 | 1,520 | 0.3 | 56 | |
Mineral Resource Estimate for the Desmond Deposit - December 2022
| Deposit | Indicated | Inferred | Total Resources | ||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| kt | Au | Au | Ag | Ag | Cu | Cu | kt | Au | Au | Ag | Ag | Cu | Cu | kt | Au | Au | Ag | Ag | Cu | Cu | |
| g/t | koz | g/t | koz | % | kt | g/t | koz | g/t | koz | % | kt | g/t | koz | g/t | koz | % | kt | ||||
| Open Pit | - | - | - | - | - | - | - | 160 | 0.9 | - | 3.1 | 20 | 1.4 | 2 | 160 | 0.9 | - | 3.1 | 20 | 1.4 | 2 |
| Underground | - | - | - | - | - | - | - | 110 | 0.8 | - | 2.2 | 10 | 1.3 | 1 | 110 | 0.8 | - | 2.2 | 10 | 1.3 | 1 |
| GrandTotal | - | - | - | - | - | - | - | 270 | 0.9 | 10 | 2.7 | 20 | 1.4 | 4 | 270 | 0.9 | 10 | 2.7 | 20 | 1.4 | 4 |
Mineral Resource Estimate for the Kundip Mining Centre - February 2023
| Deposit | Indicated | Inferred | Total Resources | ||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| kt | Au | Au | Ag | Ag | Cu | Cu | kt | Au | Au | Ag | Ag | Cu | Cu | kt | Au | Au | Ag | Ag | Cu | Cu | |
| g/t | koz | g/t | koz | % | kt | g/t | koz | g/t | koz | % | kt | g/t | koz | g/t | koz | % | kt | ||||
| Open Pit | 11,400 | 1.9 | 690 | 2.0 | 750 | 0.3 | 29 | 5,620 | 1.7 | 300 | 1.8 | 320 | 0.2 | 12 | 17,020 | 1.8 | 980 | 2.0 | 1,070 | 0.2 | 41 |
| Underground | 710 | 4.4 | 100 | 6.7 | 150 | 1.0 | 7 | 1,760 | 3.8 | 210 | 5.8 | 330 | 0.7 | 12 | 2,460 | 4.0 | 310 | 6.0 | 480 | 0.8 | 19 |
| GrandTotal | 12,110 | 2.0 | 790 | 2.3 | 900 | 0.3 | 36 | 7,370 | 2.2 | 510 | 2.7 | 650 | 0.3 | 23 | 19,480 | 2.1 | 1,300 | 2.5 | 1,550 | 0.3 | 59 |
The preceding statements of Mineral Resources conforms to the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) 2012 Edition. All tonnages are dry metric tonnes. Minor discrepancies may occur due to rounding to appropriate significant figures. Open pit Mineral Resources are reported above a 0.5g/t AuEq cut-off above a -150m translation of the topographic surface. Underground Mineral Resources are reported above 2.0 g/tAuEq cut-off below a 150m translation of the topographic surface. Refer to the following ASX announcements by the Company for further details in relation to specific deposits.
14 June 2022: Gem Restored, 21 December 2022: Desmond, 16 January 2023: Gift, 14 February 2023: Gem, Harbour View, Flag.
Competent Persons Statement:
The information in this announcement that relates to Exploration Results is based on, and fairly represents information and supporting documentation prepared by Mr David Groombridge, a Competent Person who is a Member of the Australasian Institute of Mining and Metallurgy (AusIMM). Mr Groombridge is an employee and security holder of Medallion Metals Ltd. Mr. Groombridge has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Mineral Resources and Ore Reserves’ (the JORC Code). Mr Groombridge consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
The information that relates to the data review and validation, drilling, sampling and the geological interpretation of the Gem, Harbour View and Gift Deposits has been compiled by Ms Claire Edwards. Ms Edwards is an employee and security holder of Medallion Metals Ltd. The information that relates to the data review and validation, drilling, sampling, and the geological interpretation of the Flag Deposits has been compiled by Mr David Groombridge. Mr Groombridge is an employee and security holder of Medallion Metals Ltd. The Competent Persons for Mineral Resource estimates are, for the Gem and Harbour View Deposits, Ms Justine Tracey, for the Flag Deposit, Ms Susan Havlin. The Competent Person for the Mineral Resource Estimate of the Desmond and Gem Restored deposits is Ms Jane Levett. The Competent Persons for the Mineral Resource estimates are Members and Chartered Professionals of the AusIMM. Ms Tracey, Ms Levett and Ms Havlin are full-time employees of Snowden Optiro. Mr Groombridge, Ms Edwards Ms Tracey, Ms Levett and Ms Havlin have sufficient experience that is relevant to the Technical Assessment of the Mineral Assets under consideration, the style of mineralisation and types of deposit under consideration and to the activity being undertaken to qualify as Competent Persons as defined in the JORC Code. Mr Groombridge, Ms Edwards, Ms Tracey, Ms Levett and Ms Havlin consent to the inclusion in this announcement of the relevant matters based on their information in the form and context in which it appears.
Ore Reserve Estimate for the Kundip Deposits, Ravensthorpe Gold Project
| Kundip - May 2020 | Open Pit | Underground | Total Ore Reserve | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Probable | kt | Au g/t | koz | kt | Au g/t | koz | kt | Au g/t | koz |
| Kaolin | 3,208 | 1.6 | 165 | - | - | - | 3,208 | 1.6 | 165 |
| Harbour View | 253 | 2.4 | 19 | 308 | 4.5 | 45 | 560 | 3.6 | 64 |
| Flag | 183 | 4.1 | 24 | 133 | 3.9 | 17 | 316 | 4.0 | 41 |
| Total | 3,644 | 1.8 | 208 | 441 | 4.4 | 62 | 4,084 | 2.1 | 270 |
The information that relates to Ore Reserves is based on information compiled by Mr Craig Mann, who is a full-time employee of Entech and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the “Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Mann consents to the inclusion of this information in the form and context in which it appears and is a Member of the AusIMM.
Mineral Resource Estimate for the Trilogy Deposit, Jerdacuttup Project
| Trilogy - March 2018 | Au | Ag | Cu | Pb | Zn | Au | Ag | Cu | Pb | Zn | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| kt | g/t | g/t | % | % | % | koz | koz | kt | kt | kt | |||
OC (Cu_Eq > 0.5%) | Ox | Ind | 129 | 2.4 | 85.3 | 0.5 | - | - | 10 | 354 | 0.6 | - | - |
| Inf | 336 | 1.9 | 71.7 | 0.1 | - | - | 21 | 774 | 0.3 | - | - | ||
| Tr/Fr | Ind | 4,476 | 0.8 | 52.5 | 1.4 | 2.8 | 1.6 | 121 | 7,556 | 62.0 | 126.0 | 72.1 | |
| Inf | 614 | 0.7 | 54.9 | 0.6 | 1.3 | 0.9 | 14 | 1,084 | 3.8 | 8.2 | 5.3 | ||
UG (Cu_Eq > 2.5%) | Tr/Fr | Ind | 28 | 2.8 | 21.0 | 1.3 | 0.6 | 0.4 | 3 | 19 | 0.4 | 0.2 | 0.1 |
| Inf | 18 | 1.5 | 19.7 | 1.4 | 0.3 | 1.1 | 1 | 11 | 0.3 | 0.1 | 0.2 | ||
| Sub-total | Ind | 4,633 | 0.9 | 53.2 | 1.4 | 2.7 | 1.6 | 133 | 7,929 | 63.0 | 126.2 | 72.2 | |
| Inf | 968 | 1.1 | 60.1 | 0.5 | 0.9 | 0.6 | 35 | 1,869 | 4.4 | 8.3 | 5.5 | ||
| Total | 5,601 | 0.9 | 54.4 | 1.2 | 2.4 | 1.4 | 169 | 9,798 | 67.3 | 134.4 | 77.7 | ||
The preceding statements of Mineral Resources conforms to the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) 2012 Edition. All tonnages are dry metric tonnes. Minor discrepancies may occur due to rounding to appropriate significant figures.
Competent Persons & Qualified Persons Statement:
The information in this release that relates to the Estimation and Reporting of Mineral Resources has been compiled by Mr Richard Buerger BSc (Geology). Mr Buerger is a full-time employee of Mining Plus Pty Ltd and has acted as an independent consultant on the Trilogy Polymetallic Deposit Mineral Resource estimation. Mr Buerger is a Member of the Australasian Institute of Geologists (MAIG) and has sufficient experience with the style of mineralisation, the deposit type under consideration and to the activities undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (The JORC Code). Mr Buerger consents to the inclusion in this report of the contained technical information relating the Mineral Resource Estimation in the form and context in which it appears.
The information that relates to the data review and validation, drilling, sampling and the geological interpretation of the Trilogy deposit has been completed by Mr David Groombridge. Mr Groombridge is a full-time employee of Medallion Metals Ltd. Mr Groombridge is a Member of the Australasian Institute of Mining and Metallurgy (AusIMM) and has sufficient experience with the style of mineralisation, the deposit type under consideration and to the activities undertaken to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (The JORC Code). Mr Groombridge consents to the inclusion in this report of the contained technical information relating to the Mineral Resource Estimation in the form and context in which it appears.
