Plateau resource surges 515%

RNS Number : 3366N

Rockfire Resources PLC

29 January 2021

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"") (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

29 January 2021

Rockfire Resources plc

("Rockfire" or the "Company")

Plateau resource surges 515% to 208,278 ounces gold

Rockfire Resources plc (LON: ROCK), the gold and base metal exploration company, is pleased to announce that the Company's 100% owned Plateau Gold Deposit, in Queensland Australia, has surpassed a JORC (2012) Mineral Resource of 200,000 ounces of gold. This represents a 515% increase in gold ounces since the Company's maiden JORC (2012) Mineral Resource reported previously in July 2019.

Highlights of the Plateau JORC Mineral Resource:

· The overall gold envelope at Plateau (grades above 0.2 g/t Au) has resulted in an Indicated and Inferred Mineral Resource of:

11.4 Million tonnes @ 0.6 g/t Au and 4.0 g/t Ag

208,278 ounces of gold and 1.5 Million ounces of silver . *

· Within this envelope, and using a higher cut-off (grades above 0.5 g/t Au), the Indicated and Inferred Mineral Resource is:

3.9 Million tonnes @ 1.1 g/t Au and 6.4 g/t Ag

131,302 ounces of gold and 800,000 ounces of silver. **

· Using the same 0.5 g/t Au cut-off, a subset of the Mineral Resource at shallow depths (0-100 m) is comprised 81% in the Indicated category and 19% in the Inferred category and could potentially form an early, open cut mining opportunity.

1.4 Million tonnes @ 1.2 g/t Au and 8.8 g/t Ag

53,336 ounces of gold and 390,000 ounces of silver.

· The above 53,336 ounces of gold could conceivably form a low cost, early, open cut mining operation and Rockfire is working vigorously to pursue such opportunity. Any future production could benefit from Plateau being in proximity (within 50 km) of several operating gold processing plants by minimising capital costs for mine development.

· The Mineral Resource category and classification has also resulted in an upgrade of +37% of the gold ounces into the higher confidence Indicated level, using a 0.2 g/t Au cut-off.

· The Mineral Resource remains open along strike and at depth, leaving scope for significant, further Resource increases. Within 200 m to the north and south of Plateau, rock chip sampling has returned 12.10 g/t Au and 6.69 g/t Au, respectively. Both areas are undrilled and are not included in the current Mineral Resource estimate.

· The Company is planning additional shallow drilling in the top 100 m from surface to infill and extend near-surface gold. Deep drilling at Plateau is not expected until a gravity survey, planned for April 2021, is completed. This survey is being designed to confirm a target at depths beyond 500 m.

· Rockfire's discovery cost, based on the recent drilling and Mineral Resource is approximately £6 GBP/ounce of gold. This confirms that Rockfire is a prudent and consistent, low-cost explorer.

PLATEAU ALL
Cut-off AU ppm	Tonnes	Au ppm	Au oz	Ag ppm	Ag oz
3	45,686	4.15	6,102	20.4	29,974
2	279,441	2.63	23,586	15.0	135,074
1	1,490,322	1.63	77,957	8.7	416,638
0.75	2,274,013	1.36	99,743	7.7	560,363
0.5	3,896,758	1.05	131,302	6.4	801,373
0.3	7,811,806	0.72	179,937	4.8	1,206,767
0.2	11,381,037	0.57	208,278	4.0	1,475,277
0.1	15,308,341	0.46	227,640	3.4	1,691,638
0	15,716,940	0.45	228,755	3.4	1,707,657

Table 1: Plateau Combined Classification scheme, with variable Tonnes and Grade estimate 2020

* Please refer to Table 2 below.

** Please refer to Table 3 below.

David Price, Chief Executive Officer of Rockfire, commented:

"This outstanding resource upgrade demonstrates the quality of the Plateau asset . I am particularly pleased that we have delineated near-surface gold, at an average grade of 1.2 g/t Au. This represents real potential for Rockfire to achieve its ambition of near-term, open cut gold production whilst the deposit continues to be expanded through further exploration."

"Using the higher cut-off grade of 0.5 g/t Au, the deposit maintains an overall average grade of 1.05 g/t Au. Silver is expected to add value to the economics of any future production, with silver commonly being produced simultaneously with gold in the carbon-in-pulp ("CIP") extraction process."

"This is just the beginning of Plateau and we see opportunity for more resources along strike to the east and west, as well as repetitions of the favourable geological and structural setting in the immediate vicinity of Plateau. Within 200 m to the north of Plateau, rock chip sampling has returned 12.10 g/t Au and similarly, 200 m south of Plateau, rocks have returned 6.69 g/t Au. Both areas are undrilled."

"The depth potential of Plateau remains wide open for a significant discovery. Rockfire has only drilled two holes at depth and both have intersected good gold grades. BPL041 hit 9.2 g/t Au at 409 m below surface and hole BPL040, hit 2.5 g/t Au at 639.25 m depth. These intercepts are 175 m apart and are considered by Rockfire geologists to be an outstanding success and bodes very well for a significant gold discovery."

"Rockfire is striving to monetise Plateau and we are working hard to achieve this for the benefit of our shareholders. We are very pleased with progress to date and will continue to push rigorously ahead with exploration at Plateau, pursuing our ambition for early gold production. We will keep the market up to date as our work progresses."

Table 2: Plateau Mineral Resources Summary *

GOLD MINERAL RESOURCES - PLATEAU > 0.2 g/t Au
As at 31 December 2020	INDICATED (IND)			INFERRED (INF)			TOTAL (IND/INF)			Competent Person
Based on 100 % ounces Au	Tonnes	Grade	Ounces	Tonnes	Grade	Ounces	Tonnes	Grade	Ounces
		(gpt)	Au		(gpt)	Au		(gpt)	Au
Oxide	851,274	0.82	22,546	382,368	0.61	7,525	1,233,642	0.76	30,071	1
Sulphide	2,562,261	0.67	55,352	7,585,133	0.50	122,855	10,147,394	0.55	178,207	1
Sub-total	3,413,535	0.71	77,898	7,967,501	0.51	130,380	11,381,037	0.57	208,278	1
TOTAL RESOURCES	3,413,535	0.71	77,898	7,967,501	0.51	130,380	11,381,037	0.57	208,278	1
SILVER MINERAL RESOURCES
As at 31 December 2020	INDICATED (IND)			INFERRED (INF)			TOTAL (IND/INF)			Competent Person
Based on 100 % ounces Ag	Tonnes	Grade	Ounces	Tonnes	Grade	Ounces	Tonnes	Grade	Ounces
		(gpt)	Ag		(gpt)	Ag		(gpt)	Ag
Oxide	905,876	5.23	152,408	423,730	4.85	66,128	1,329,606	5.11	218,536	1
Sulphide	3,719,618	4.21	503,840	10,259,117	2.94	969,262	13,978,735	3.28	1,473,102	1
Sub-total	4,625,494	4.41	656,248	10,682,846	3.01	1,035,390	15,308,341	3.44	1,691,638	1
TOTAL RESOURCES	4,625,494	4.41	656,248	10,682,846	3.01	1,035,390	15,308,341	3.44	1,691,638	1

 

Table 3 Plateau Mineral Resources Summary **

GOLD MINERAL RESOURCES > 0.5 g/t Au
As at 31 December 2020	INDICATED (IND)			INFERRED (INF)			TOTAL (IND/INF)			Competent Person
Based on 100 % ounces Au	Tonnes	Grade	Ounces	Tonnes	Grade	Ounces	Tonnes	Grade	Ounces
		(gpt)	Au		(gpt)	Au		(gpt)	Au
Oxide	495,159	1.16	18,536	141,760	1.04	4,760	636,919	1.14	23,296	1
Sulphide	1,089,572	1.14	40,003	2,170,268	0.97	68,003	3,259,840	1.03	108,006	1
Sub-total	1,584,731	1.15	58,539	2,312,028	0.98	72,763	3,896,758	1.05	131,302	1
TOTAL RESOURCES	1,584,731	1.15	58,539	2,312,028	0.98	72,763	3,896,758	1.05	131,302	1
SILVER MINERAL RESOURCES
As at 31 December 2020	INDICATED (IND)			INFERRED (INF)			TOTAL (IND/INF)			Competent Person
Based on 100 % ounces Ag	Tonnes	Grade	Ounces	Tonnes	Grade	Ounces	Tonnes	Grade	Ounces
		(gpt)	Ag		(gpt)	Ag		(gpt)	Ag
Oxide	495,159	6.69	106,568	141,760	6.85	31,224	636,919	6.73	137,792
Sulphide	1,089,572	8.88	311,161	2,170,268	5.05	352,420	3,259,840	6.33	663,581
Sub-total	1,584,731	8.20	417,728	2,312,028	5.16	383,645	3,896,758	6.40	801,373	1
TOTAL RESOURCES	1,584,731	8.20	417,728	2,312,028	5.16	383,645	3,896,758	6.40	801,373	1

 

Notes:

1.  Mineral Resources do not demonstrate economic viability.

2.  Rounding may result in apparent summation differences between tonnes, grade and contained metal content.

3.  Contained Ounces Gold at >0.2 g/t * & >0.5 g/t ** lower cut-off grade.

4.  The contained silver ounces are associated directly with the gold tonnes at a 0.2 and 0.5 g/t Au lower cut-off grade.

Qualified Person Statement:

Information which relates to the mineral resource estimations, is based on information compiled by Rockfire's Exploration Manager, Edward Fry, under the supervision of Bernie Sostak. Mr Sostak is a casual employee of Rockfire and is qualified with a B.Sc. in Geology and is a Member of the AusIMM, in accordance with the guidance note for Mining, Oil & Gas Companies issued by the London Stock Exchange in respect of AIM Companies, which outlines standards of disclosure for mineral projects. Mr Sostak has sufficient experience which is 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 "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" for the Company compilation. Mr Sostak consents to the inclusion in this announcement of the matters based on this information in the form and context in which it appears.

For further information on the Company, please visit  www.rockfireresources.com  or contact the following: 

Rockfire Resources plc:	[e-mail]
David Price, Chief Executive Officer
Allenby Capital Limited (Nominated Adviser & Broker)	Tel: [phone]
John Depasquale / Asha Chotai (Corporate Finance) Matt Butlin / Guy McDougall (Equity Sales)
Yellow Jersey	[e-mail]
Sarah Hollins / Henry Wilkinson	Tel: [phone]

 

1.  JORC Code, 2012 Edition - Table 1 Report:  Lighthouse (Plateau) Resource Dec 31, 2020

1.1.  Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)

Criteria	JORC Code explanation	Commentary
Sampling techniques	Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry 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.	Sampling was completed using a combination of Reverse circulation (RC) and Diamond Drilling (DD). A majority of the RC drilling was used for the Resource definition holes (37), with diamond the remaining drilling (5). Reverse Circulation drilling was undertaken with 1 m spaced intervals generally. DD core was transferred to core trays for logging and sampling. Half core was sampled typically on a geological or 1m basis, with minimum sample size of 0.1 m. The RC samples by Rockfire Resources (RR) were sampled on a 1 m basis.
	Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.	Core is aligned and measured by tape, comparing back to down hole core blocks consistent with industry practice where observed.
	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 (e.g. '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 (e.g. submarine nodules) may warrant disclosure of detailed information.	Diamond drilling and Reverse Circulation sampling were completed by respected companies to an assumed industry standard, The sample is crushed and pulverised to produce an approximate ~200g pulp sub sample to use in the assay process. Historical gold assays fail to denote the assay method used (except for the Citi holes (AAL used a 50g fire assay). Current RR RC sampling used a 50g fire assay (ALS AA-26) from a 2 kg field sample spilt.
Drilling techniques	Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).	Both RC and DD Drilling techniques were used at the Plateau Prospect. Diamond drill holes pre-2000 were predominantly NQ/BQ or HQ. RC were from 4 .5-5.5 "diameter holes Core was aligned in core trays, but no modern orientation marks and techniques were observed. RR RC Drilling was completed using a UDR Truck mounted 8x8 Tatra rig
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed.	Recovery was good for both diamond core and RC holes where recorded by historical operators. The majority of the core contains photographic records.
	Measures taken to maximise sample recovery and ensure representative nature of the samples.	RC drilling contractors adjust their drilling approach to specific conditions to maximize sample recovery. For diamond drilling the contractors adjust their rate of drilling and method if recovery issues arise. All recovery is recorded by the drillers on core blocks. This is checked and compared to the measurements of the core by inter-block run lengths.
	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.	There is no known relationship between sample recovery and grade, sample recovery is high
Logging	Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.	All diamond core is logged for, lithology, veining, alteration, mineralisation and structure where recorded. RC sample chips are logged in both metre by metre and grouped interval types. For each hole, lithology, alteration, veining and mineralisation are recorded.
	Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.	All logging is quantitative where possible, qualitative elsewhere.
	The total length and percentage of the relevant intersections logged.	100% of the drill core and RC chips are logged
Sub-sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken.	The core was generally half core sampled. One historical diamond drill hole remains, the entirety of which was half sampled. All major mineralised zones are sampled, plus visibly altered material outside the mineralised zone. Sample intervals are mostly 1m long regardless of the geology. The assay lab used was not observed in any of the historical literature (except for the Citi holes (AAL were used). Sample crushing and pulverising protocols completed directly on the samples is not known and assumed as best industry-practice at that time. Grind checks were not observed in any of the previous literature. The recent RR samples and analysis show grind analyses of plus 90 % above 75 micron.
	If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.	All current RC samples were split using a rig-mounted cone splitter to collect generally on a 1 m sample size. These samples were submitted to the ALS for each 1m interval drilled. Samples were taken to ALS for primary preparation by drying, crushing and pulverizing. For the historical RC holes, the assay lab used was not observed in any of the historical literature. It is unknown from literature whether dry or wet chips sampled on individual holes.
	For all sample types, the nature, quality and appropriateness of the sample preparation technique.	Sample preparation was not observed but is assumed best industry practice at that time and deemed adequate. .
	Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.	Field duplicates were taken for the recent RR RC sampling every 20m. It is unknown from literature if duplicates were taken.
	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.	It is unknown from literature if duplicates were taken for diamond core.
	Whether sample sizes are appropriate to the grain size of the material being sampled.	Sample sizes are considered appropriate as assumed Industry practice.
Quality of assay data and laboratory tests	The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.	The current drilling involved using a 50 g/t Au Fire assay charge with a lead flux, dissolved in the furnace. The prill is totally digested by HCl and HNO3 acids before Atomic absorption spectroscopy (AAS) determination for gold analysis. It is unknown from historical literature which final assay analysis method was used.
	For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.	No geophysical tools were used to determine any element concentrations
	Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.	Certified reference materials (CRMs) were historically not inserted into the sample sequence. The recent RR RC drilling incorporated a standard every 30m. Blanks and standards are placed in the analysis runs by the Laboratories under their own QA/QC programs.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel.	All significant intersections are verified by internal RR geologists during the drill hole validation process, and later by a Competent person to be signed off at an approximate 5 % random check.
	The use of twinned holes.	One RR hole twinned a historical RC hole. The hole in question was commented as having possible downhole contamination. The RR drill hole encountered mineralisation where expected and repeated the mineralisation pattern but in more discrete zones. The RR hole successfully demonstrated that the historical hole in question should be excluded from the mineral estimate due to excessive down hole contamination.
	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.	Geological logging was captured using paper logs and entered later into excel templates. Both a hardcopy and electronic copy of these are stored, as well as being loaded into the database using manual techniques that the Independent person verifies on approximately 5 %. Assay files are received in csv format for new holes and copied direct into the excel log. The Geologist then checks the assays against historical logs. A geologist then checks that the results have been inserted correctly. Hardcopy and electronic copies of these are stored. No adjustments are made to this assay data. Hard copies of RC and core /assays and surveys are kept on site and on an electronic library. Visual checks are conducted as part of the validation process of the data in Micromine software.
	Discuss any adjustment to assay data.	No adjustments, only the first primary lab assays are used.
Location of data points	Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.	73 of the 107 pre-2019 holes were located at surface and their position was recorded using a DGPS, four holes were not located and their collar positions were based off the geology log sheets and compared to historical plans. The 30 2019-2020 RR holes have been located by using a high-quality DGPS registered drone air photograph. Reviews of the historical literature highlight that only some downhole surveys were recorded. The original drill holes used a local grid for their easting and northing coordinates. The local grid was translated into MGA 94 z55 by using by a DGPS to record the location of historical drill hole collars.
	Specification of the grid system used.	Holes are based on the Map Grid of Australia 94, zone 55.
	Quality and adequacy of topographic control.	Topographic control is derived from 3D drone photography and collaborated on ground by using selected DGPS points.
Data spacing and distribution	Data spacing for reporting of Exploration Results.	Exploration result data spacing can be highly variable, from 15 m up to 100 m
	Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.	Drill hole spacing varies across the area and is typically 30m east-west and 15m north-south (down dip drilling)
	Whether sample compositing has been applied.	Sampling of DD and RC mineralisation was generally on 1m centres, with selective visual sampling down to a minimum of 0.1 m. Compositing was completed to 1m for geostatistical analysis at the cut-off grade and resource estimation stage
Orientation of data in relation to geological structure	Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.	The Plateau East prospect dips at ~70° to the South; the Plateau central breccia (south) dips steeply ~80 to the north. The holes targeting the south dipping structure dip to the North at a high intersection angle. The holes targeting the steeply north dipping structure are both north and south orientated.
	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.	Given the steepness of the mineralised zones (70-80 ⁰ ) no sampling bias is considered to have been introduced by the drilling orientation
Sample security	The measures taken to ensure sample security.	The current RR RC samples were managed at site and hand delivered to ALS by RR staff. No record of the historical chain of custody measures were observed in the historical literature
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	Review of historical sampling is considered meeting industry practice by previous operators.

1.2.  Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code explanation	Commentary
Mineral tenement and land tenure status	Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.	The Plateau prospect is situated on EPM 25617, which is 100% owned by BGM Investments Pty Ltd (a wholly owned subsidiary of RR). Plateau is located south east of Charters Towers. No material third party issues exist at Plateau.
	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.	EPM 25617 is in good standing with the Queensland Government. No impediments have been identified to date.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	Exploration has been completed by other parties including Penarroya, Esso, Citi, and Newcrest. The historical work was completed using a local grid. All relevant data was recorded in annual/bi-annual exploration reports. The data has been validated by RR staff and is considered to be of a high quality. RR commenced compilation of all the paper data in 2017 to support the generation of technical information and the new mineral resource. The local grid was constrained using DGPS located historical drill hole collars.
Geology	Deposit type, geological setting and style of mineralisation.	The Plateau prospect is hosted in andesitic lava flows of the Trooper Creek Formation. The Trooper Creek formation forms part of the Cambro-Ordovician Seventy Mile Range Group. The mineralisation style is similar to the Mt Wright deposit, being breccia hosted with rhyolite intrusive phases. Plateau is considered an Intrusion Related Gold System.
Drill hole Information	A summary of all information material to the understanding of the exploration results including a 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.	PL DH MASTER ASSAY 20200129 PL DH MASTER COLLAR 20190307 PL DH MASTER GEOLOGY 20190307 PL DH MASTER MSUS 20190729 PL DH MASTER OX 20190530 PL DH MASTER SURVEY 20190307 Please contact the company if you require more detailed information. (see attached plan and section).
	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.	Not Applicable
Data aggregation methods	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated.	All historical diamond core results have been reported using the from-to weighting method in the Micromine software. The cut of grade for the mineral resource estimate is discussed below.
	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.	Mineralised envelopes were developed with visual geological contacts and grades above 0.1 g/t Au. No set internal dilution criteria was used for hard domain boundaries.
	The assumptions used for any reporting of metal equivalent values should be clearly stated.	N/A
Relationship between mineralisation widths and intercept lengths	These relationships are particularly important in the reporting of Exploration Results.	Downhole lengths have been reported
	If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.	The drilling intersects the known mineralisation at high angle
	If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. 'down hole length, true width not known').	To be noted as required and all lengths are considered as downhole lengths.
Diagrams	Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	Diagrams have been attached for geometry in plan and long section view.
Balanced reporting	Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	Mineralisation for low grade and high grade are highlighted
Other substantive exploration data	Other exploration data, if meaningful and material, should be reported including (but not limited to): 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.	No additional relevant information exists at this time.
Further work	The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling).	Further work is planned in 2021 in order to extend the currently defined mineralised zones along strike and down dip.
	Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	See 3D section in Appendix 1

1.3.  Section 3 Estimation and Reporting of Mineral Resources
(Criteria listed in section 1, and where relevant in section 2, also apply to this section.)

Criteria	JORC Code explanation	Commentary
Database integrity	Measures taken to ensure that data has not been corrupted by, for example, transcription or keying errors, between its initial collection and its use for Mineral Resource estimation purposes.	All data is stored in a digital database with logging and assays being compared to original logs and assay sheets. Validation is also done against old paper plans. Downhole validation checks are made when loading into Micromine software.
	Data validation procedures used.	All data is manually validated and only approved data is used for the resource estimation.
Site visits	Comment on any site visits undertaken by the Competent Person and the outcome of those visits.	Site visits were not undertaken by the Competent Person due to Covid-related travel restrictions.
	If no site visits have been undertaken indicate why this is the case.	The presence of abundant work by numerous respectable operators (Esso, City Resources, Penarroya, and Newcrest) and RR geologists do not necessitate a site visit at this time. Photos and data have been reviewed. Additionally, COVID-19 travel restrictions make it impossible for the competent person to visit site at present.
Geological interpretation	Confidence in (or conversely, the uncertainty of) the geological interpretation of the mineral deposit.	The geological interpretation of the deposit contains a higher degree of confidence newly due to infill drilling demonstrating initial target. This is due to the contrasting rock types (breccia, andesite and rhyolite) and distinct mineralised zones (gossan/semi-massive sulphides) which was clear in the new logging and confirming historical holes.
	Nature of the data used and of any assumptions made.	The interpretation is primarily supported by Geological logging of drilling and geologic mapping in line with grades above 0.1 g/t Au for mineralisation continuity.
	The effect, if any, of alternative interpretations on Mineral Resource estimation.	No alternative interpretations have been completed to date.
	The use of geology in guiding and controlling Mineral Resource estimation.	The geology (sulphide/gossanous rich fault zones) and alteration logging was used in determining the mineralised domain zones.
	The factors affecting continuity both of grade and geology.	Structural features are known to offset the veining and are incorporated into the resource model when they are identified in the drilling logs.
Dimensions	The extent and variability of the Mineral Resource expressed as length (along strike or otherwise), plan width, and depth below surface to the upper and lower limits of the Mineral Resource.	Mineralisation has been identified over a strike length approximately of 750m and over a depth of approximately 700m to date. Due to the lack of outcrop (soil cover and laterite, it is unclear how far or how many additional mineralised zones exist. At Plateau East mineralisation typically occurs as distinct domains between 1m and 15m thick high-grade zones within a 20 m wide mineralised fault zone. At the Central Breccia, the mineralised zones fall within a broad zone approximately 100-150m wide.
Estimation and modelling techniques	The nature and appropriateness of the estimation technique(s) applied and key assumptions, including treatment of extreme grade values, domaining, interpolation parameters and maximum distance of extrapolation from data points. If a computer assisted estimation method was chosen include a description of computer software and parameters used.	Drill holes were composited into 1.0m intervals down hole within each interpreted domain. The average grade and total length of the composite data was compared against the average grade and total length of the uncomposited data to check the compositing process. The distribution of composite lengths were checked to ensure that the majority of the composites were close to the targeted length. Anisotropic inverse distance power (IDW to the power of 2) was the estimating method used. Search distances used for estimation based on the drill spacing and target definition levels. Grades were estimated into 5x2x1m panels for PL E and 10x10x1m panels for PL CB Drill spacing approximates 30m x 15m in some zones and sporadic on others.
	The availability of check estimates, previous estimates and/or mine production records and whether the Mineral Resource estimate takes appropriate account of such data.	The previous JORC Mineral Resource estimate for Plateau was completed by RR in July 2019.
	The assumptions made regarding recovery of by-products.	No assumptions have been made and is a contained metal estimate.
	Estimation of deleterious elements or other non-grade variables of economic significance (e.g. sulphur for acid mine drainage characterisation).	No deleterious elements are estimated in the model
	In the case of block model interpolation, the block size in relation to the average sample spacing and the search employed.	5x2x1m panels for PL E and 10x10x1m panels for PL CB. Search ellipsoids are (Axis 1) 40m (Axis 2) 30m by 3m (Axis 3) for the 5 zones at PLE and (Axis 1) 40m (Axis 2) 40m by 3m (Axis 3) for the 5 zones at PLCB. This same ellipse has been used for both the gold and the silver estimation.
	Any assumptions behind modelling of selective mining units.	The minimum domain width is 1 m (the average width for the zones are +10m) where visual alteration and grades > 0.1 g/t Au were observed. No discrete, selective mining unit was incorporated, it is expected to be a bulk mining unit approach.
	Any assumptions about correlation between variables.	Visualisation in Micromine of block grade versus drill hole grade comparisons.
	Description of how the geological interpretation was used to control the resource estimates.	Mineralised zones were constrained according to geological features. Each domain is validated against the lithology, and then snapped to the drill-hole intersections to constrain the mineralized envelope as a footwall and hanging wall surface.
	Discussion of basis for using or not using grade cutting or capping.	Top-cuts were applied to the sample data based on Log Probability plot statistical analysis of the data total domain
	The process of validation, the checking process used, the comparison of model data to drill hole data, and use of reconciliation data if available.	The estimated grades were assessed against sample grades and against the wireframe grade tonnage report
Moisture	Whether the tonnages are estimated on a dry basis or with natural moisture, and the method of determination of the moisture content.	Tonnes were assumed to be dry in situ
Cut-off parameters	The basis of the adopted cut-off grade(s) or quality parameters applied.	Cut-off grades for reporting the base resource were developed using a Gold Price of $AUD 2400 and estimated costs given there are treatment plants within a 60 km radius. A cut-off grade of 0.5gpt Au was adopted as the base for reporting
Mining factors or assumptions	Assumptions made regarding possible mining methods, minimum mining dimensions and internal (or, if applicable, external) mining dilution. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider potential mining methods, but the assumptions made regarding mining methods and parameters 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.	No assumptions made for mining apart from a minimum 1 metre composite at grade and supporting geology .
Metallurgical factors or assumptions	The basis for assumptions or predictions regarding metallurgical amenability. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider potential metallurgical methods, but the assumptions regarding metallurgical treatment processes and parameters made when reporting Mineral Resources may not always be rigorous. Where this is the case, this should be reported with an explanation of the basis of the metallurgical assumptions made.	No metallurgical test work historical or current exists for the prospect and considered contained gold metal.
Environmental factors or assumptions	Assumptions made regarding possible waste and process residue disposal options. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider the potential environmental impacts of the mining and processing operation. While at this stage the determination of potential environmental impacts, particularly for a greenfields project, may not always be well 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.	Given the early-stage nature of the prospect, no environmental factors or concerns are observed at current.
Bulk density	Whether assumed or determined. If assumed, the basis for the assumptions. If determined, the method used, whether wet or dry, the frequency of the measurements, the nature, size and representativeness of the samples.
	The bulk density for bulk material must have been measured by methods that adequately account for void spaces (vugs, porosity, etc), moisture and differences between rock and alteration zones within the deposit.	No/minimal voids are encountered or anticipated.
	Discuss assumptions for bulk density estimates used in the evaluation process of the different materials.	The SG assumption for oxide zones was based on a 10-20% reduction in density. The SG assumption for the fresh zones which had some recent measurements, were on the average of those results. Where there were no quantitative measurements, an assumption was made based on the rock type of the units.
Classification	The basis for the classification of the Mineral Resources into varying confidence categories.	The classification of the resource was based on the new and recent infill drilling targets being confirmed, including the early stage of knowledge base for: Geological and grade continuity Density of available drilling infill.
	Whether appropriate account has been taken of all relevant factors (i.e.. relative confidence in tonnage/grade estimations, reliability of input data, confidence in continuity of geology and metal values, quality, quantity and distribution of the data).	Whether appropriate account has been taken of all relevant factors
	Whether the result appropriately reflects the Competent Person's view of the deposit.	This mineral resource estimate is considered representative as an early-stage prospect
Audits or reviews	The results of any audits or reviews of Mineral Resource estimates.	The resource model has not had external reviews.
Discussion of relative accuracy/ confidence	Where appropriate a statement of the relative accuracy and confidence level in the Mineral Resource estimate using an approach or procedure deemed appropriate by the Competent Person. For example, the application of statistical or 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.	This mineral resource estimate is considered an early-stage estimate based off the style of mineralisation, the current geology and more recent infill drilling. This resource will form the base for additional drilling to increase the confidence and extent further. The drilling density is highest closest to surface which is represented in the approximate 30% indicated, 70% inferred outcome of the mineral 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.	The estimate is considered to be a global estimate with local high grade areas potentially having high variability.
	These statements of relative accuracy and confidence of the estimate should be compared with production data, where available.	No production data is available

 

Appendix 1: http://www.rns-pdf.londonstockexchange.com/rns/3366N_1-2021-1-29.pdf

 

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