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:
Explaurum 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.
Exploration Highlights for the period ended 30 June 2017
September Quarter Plans
Now that the resource drilling is complete work will focus on 3D geological and structural modelling to develop constraining domains for the resource estimation. The final assay results from the remaining holes will be assayed during this time and are expected to be available for reporting by mid-August.
The 3D modelling and assay results will then be compiled and final QAQC of the assay data, geostatistical analysis and resource estimation is expected to be completed by the end of August, with the new resource estimate planned to be released in the first week of September. An update of the scoping study financial results based on the new resource estimate, including new optimisations and a preliminary mine schedule, will then be completed for announcement in early October.
Work planning to develop tasks, timelines and actions for the Feasibility study has started, including discussions with relevant consultancy groups for metallurgical, process design, mining, environmental and hydrological studies.
The soil geochemical data collected over regional target areas defined by the recent geological mapping and gravity programs remains under review. The results from the soil sampling program will be available by mid-September 2017 once the resource estimation work is completed.
Bottle roll test work to determine the indicative gold recovery on mineralised intervals from the Leicester zone is in progress and should be available by the end of September.
In addition, the exploration program over the next 12 months will include:
Drill plan of current resource RC drill holes and gold zones (Farm building to east of resource area derelict and unoccupied).
Cross section through the Wanjalonar gold zone showing dip extension to gold mineralisation
Cross section through the Leicester gold zone showing near surface high grade gold mineralisation
Long section from the Wanjalonar gold zone through to the Leicester gold zone in the south, showing overall structure of the gold zones in relation to geology
3D Grade shells modelled in Leapfrog defining an open fold that dips and plunges to the south east
Processed regional gravity data showing gravity target areas with similar gravity data values to the Tampia gold resource area
Gold nuggets panned from the 1m at 716 g/t Au intersection in THRC344