Ann: Admission to Trading on the London Stock Exchange, page-26

Update below from the quarterly mate. Assays mustn’t be material as they have not released to market and suggest it won’t have material change in tonnage. I’d suggest the same is the case with A4 (assays not material). Whilst I understand the policy of only releasing assays that are material to the market I would really prefer an open and transparent communication from the company with all assays shown regardless of materiality - I think with a spec explorer they should all be released.

T3 Underground Project


The T3 resource remains open along strike and at depth. Since the resource upgrade in July 2018, a further 25 holes have been drilled, testing for underground resource extensions below and down dip from the conceptual PFS open pit mine. Assay results have been received for 23 of these holes and confirm the mineralised veins extend below and along strike from the planned T3 pit. Results are currently being interpreted and once complete, CSA Global will undertake a revised resource update for the 60Mt T3 deposit to include these additional 25 holes. Whilst the overall resource tonnage is not anticipated to alter materially, the additional data should improve resource category confidence levels.


Global mining consulting group SRK is carrying out optimisation studies that will define the boundaries of the proposed T3 open pit. An estimate of the tonnes and grade of ore that could potentially be available for underground mining can then be made and a preliminary scoping study will commence in the December quarter. Further drilling is planned for early 2019 with the aim of converting additional inferred resources into the indicated resource category for subsequent reserve conversion.


A detailed scoping study may then be undertaken for the T3 Underground Project, with the objective to define a potential supplementary source of high-grade ore for blending with open pit ore.