Explaurum’s key asset is the 90% interest in the Tampia Gold Project, located approximately 300km east of Perth in the wheat belt of Western Australia. A 2012 JORC Inferred resource of 4.7 million tonnes (MT) grading 2.0g/t Au (cut) or 2.5g/t Au (uncut) containing 310,000 – 380,000 ounces of gold, including 1.6 MT at 3.4 g/t Au (cut) or 4.6g/t Au (uncut) containing 170,000 – 237,000 ounces gold announced in April 2015 (Table 1).
BHP Minerals (‘BHP’) discovered gold mineralisation at Tampia in 1987 from follow up of regional BLEG stream sampling program. BHP and subsequent owners in the 1990s established the following features of the mineralisation:
The property received only minor exploration attention from the mid-1990s until Explaurum acquired an 80% (now 90%) interest in April 2012. At that time, although the Project is located within an under-explored greenstone belt, technical aspects of the deposit such as geology, structure, controls on mineralisation and metallurgy were poorly understood, but what was known regarding the mineralisation (open-pittable resource with near surface, high grade mineralisation open in all directions) was highly attractive to the Company. Some of the notable previous drilling intercepts include 19m at 9.2g/t Au from 15m, 12m at 13.4g/t Au from 41m, 25m at 10.7g/t Au from 0m, 25m at 10.4g/t Au from 0m, 9m at 16.49g/t Au from 16m, 18m at 24.6g/t Au from 7m and 13m at 23.6g/t Au from 21m. Since acquiring the Project in 2012, the Company has:
Notable historic drill intercepts included:
In 2014 and early 2015, the Company completed 10 diamond drill holes (THDD001 – THDD0011 totalling 481.3m), with six holes targeting known mineralisation in the vicinity of the Gault resource. The diamond drilling confirmed the historic drilling and located two new deeper zones of mineralisation, but more importantly provide samples for metallurgical test work, which is now underway. As a precursor to the metallurgical test work program, 28 bottle roll leach test were completed on samples from the core, with 23 samples returning an average of 89% gold recovery and five samples averaging 47% recovery with an overall 82% weighted average recovery. This early result is a significant and positive development for the project.
The positive recoveries from the Bottle Roll results suggest that the near-surface northern portion of the Gault deposit has the potential for mining and toll treatment (“Toll Treatment option”) through a nearby treatment facility. Consequently, a 45 hole 2,798m RC drilling program on a 20m x 10m grid was completed in November 2015 to establish an initial Indicated resource that can be assessed for the Toll Treatment option.
The planning of the major resource drilling program at Tampia was completed during the March quarter. A total of 194 holes were planned for the resource drilling for a total of 26,200m and 100 holes were planned for exploration drilling to extend known mineralisation and test scattered mineralisation from pre-2014 drilling for a total of 14,020m. The total program comprises 294 holes for 40,020m, with the resource drilling program planned to be completed by June. A statistical review of current assay data, completed prior to drill planning, suggested that a 40mx40m grid could be used to define the JORC compliant 2012 Indicated resource at Tampia. This may result in the potential to classify some parts of the resource as Measured, especially in areas of higher density of post 2014 drilling like the Wanjalonar gold zone. The main aims of this major drilling program are:
The drilling program started in February after a delay due to unseasonal heavy rain, using two drill rigs on a continuous roster basis to accelerate delivery of results. The first drill holes were targeted to define the northern and southern boundaries of the resource area at Tampia. A total of 94 RC holes for 13,249m (to April 23) have been completed since then, from a total planned program of 26,200m, which has since been increased to 29,103m.
Results have been reported from 28 holes to date. A total of 19 of the 28 holes are mineralised, including significant intercepts of:
Results to date have exceeded expectations. Of the 28 holes with assays returned, 13 holes returned better results than predicted by the gold grade model, 13 holes returned results similar to the gold grade model and 2 holes were worse than predicted by the gold grade model.
THRC140 intersected a new zone of near surface high grade gold mineralisation on the southernmost line of the resource area, now called the Leicester gold zone, including 7m at 17.55 g/t Au from 5m and 13m at 3.24 g/t Au from 16m. Additional extensional drilling has been planned to close off this gold zone, which is a new zone of high grade near surface gold mineralisation not included in previous historic resource estimates.
Results from prior drilling include:
Explaurum are pleased to advise it has completed a Scoping Study (“Study”) based on the Inferred mineral resource at its 90% owned Tampia Gold Project (“the Project”), located approximately 300km east of Perth in the wheat belt of Western Australia.
Explaurum was assisted by the following reputable industry consultant groups; Kenex Pty Ltd (3D geological modelling), Entech Pty Ltd (resource estimation and mining), Mintrex Pty Ltd (process flow sheet and plant design), ALS Metallurgy Pty Ltd (metallurgical test work), Mintap Services Pty Ltd (metallurgical program), Martinick Bosch Sell Pty Ltd (MBS Environmental) (baseline environmental, heritage) and Rockwater Pty Ltd (groundwater).
The results of the study were positive and importantly provides strong encouragement for the Company to commit to the next stage of its exploration and development program.
There is approximately 15,975m of resource drilling left to be completed, which at current drilling rates should be finished by June. This will be followed immediately by resource estimation and the announcement of a new Tampia JORC 2012 compliant Indicated resource.
New gravity and soil geochemical data are currently being collected over regional target areas defined by the recent geological mapping program. Data have been collected to the west and north of the Tampia project area focussing on new mafic gneisses that appear geologically similar to the mafic gneiss that hosts gold mineralisation at Tampia. The data from these programs are currently being processed and analysed and the results of the gravity survey and the soil sampling in early and late May respectively.
Metallurgical test work is nearing completion and the results from this work are expected to be announced in early May.
Preparation for feasibility studies to follow the release of the new resource estimate are underway and these are expected to commence in June/July.
In addition, the exploration program over the next 12 months will include:
June Quarter Plans
Drilling in early February 2017, with an aggressive program of exploration and infill drilling that will lead into a new resource estimate for the project:
Regional map of the location of the main resource area (Gaults) at Tampia in relation to current tenements, drill collars, magnetic data and gold soil anomalies.
Drill plan of exploration RC holes showing historic resouce areas compared to target resource area. The target resource area will be the subject of the planned infill drilling program starting late January.