Geology and Resource Estimate Report Imwelo Project, Tanzania … · 2020. 10. 20. · Imwelo...
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Geology and Resource Estimate Report Imwelo Project, Tanzania
Lake Victoria Gold Ltd
Report No: LVG_Report_2020_08
August 2020
Imwelo Project
Geology and Resource Estimate Report
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Document Issue and Approvals
Document Information
Project: Imwelo Project
Document Number: LVG_Report_2020_08
Title: Geology and Resource Estimate Report
Client: Lake Victoria Gold Ltd
Date: August 2020
Contributors
Name Position Signature
Prepared by: Chris Grove Principal Geologist
Reviewed by: James Knowles Director and Principal Geologist
Approved by: Lyon Barrett Managing Director and Principal Geologist
Distribution
Company Attention Hard Copy Electronic
Copy
Lake Victoria Gold Ltd Seth Dickinson 2 Yes
Measured Group Pty Ltd ACN 166 493 063.
14/116 Adelaide St, Brisbane, 4000, Australia.
Imwelo Project
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PURPOSE OF REPORT
Measured Group Pty Ltd (MG) has prepared a report on the Mineral Resources of the Imwelo
Project for the Directors of Lake Victoria Gold Ltd. This report is an objective assessment of
scientific and technical information and is intended as an evaluation of the Imwelo Project.
The purpose of the report is to provide for the company, an objective assessment and estimate
of the Mineral Resources that is compliant with the Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves, 2012 edition (The JORC Code).
The Mineral Resources are estimated as of 30 August 2020.
The information in this Report that relates to Mineral Resources is based on information
compiled by the Competent Person in accordance with:
• The 2015 Edition of the Australasian Code for Public Reporting of Technical
Assessments and Valuations of Mineral Assets (the VALMIN Code);
• The 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves (the JORC Code);
• The Australian Securities Exchange (ASX) Listing Rules – Chapter 5: Additional
reporting on mining and oil and gas production and exploration activities;
• Sections 670A(2), 728(2) and 769C of the Corporations Act 2001 and Section 12BB(1)
of the Australian Securities and Investments Commission Act 2001, where a statement
about future matters must be based on reasonable grounds at the date the statement
is made, or it will be misleading.
The author of this report, reporting on the mineral resource estimate (Christopher Grove) and
Measured Group Pty Ltd are independent of Lake Victoria Gold Ltd, Lake Victoria Gold Ltd’s
directors, senior management and advisors, have no economic or beneficial interest (present
or contingent) in any of the mineral assets being reported on.
Measured Group Pty Ltd is remunerated for this Report by way of a professional fee determined
in accordance with a standard schedule of commercial rates, no remuneration or provision of
further work dependent on the outcome of the valuation or the success or failure of the
transaction for which the Report was required.
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1. COMPETENT PERSONS REPORT ON THE MINERAL
ASSETS OF LAKE VICTORIA GOLD LTD
1.1 Background
Measured Group Pty Ltd (“Measured”) was requested by Lake Victoria Gold Ltd (“LVG”,
hereinafter also referred to as the “Company” or the “Client”) to prepare a Competent Persons
Report (“CPR” or the “Report”) on the Mineral Assets of the Company comprising its exploration
stage projects in Tanzania.
LVG intends to include this CPR in a Prospectus for the Re-Admission of MetalNRG plc (following
the acquisition of the Company) on the Standard Market segment of the London Stock
Exchange (“LSE”).
1.2 Scope of Work
Measured were contracted to review the technical status of each mineral asset and make
recommendations for further exploration work and present its findings in a CPR.
The following scope of work was agreed upon by the Company:
• Compile and review geological and exploration data for the Tanzanian mineral
properties comprising the Company’s current and proposed Exploration Assets;
• Undertake site visits by a suitably qualified Competent Person (“CP”); and
• Produce a CPR to include current exploration status and recommendations for further
work on the key projects, in a format that can be used by the Company for the listing
on the London Stock Exchange.
1.3 Requirement, Structure and Compliance
This CPR has been prepared in accordance with the European Securities and Markets Authority
(“ESMA”) update of the CESR recommendations on the consistent implementation of
Commission Regulation (EC) No.809/2004 implementing the Prospectus Directive (the “CESR
Guidance”) and the listing rules of the UK Financial Conduct Authority.
The CPR is issued by Measured, and accordingly Measured assumes responsibility for the CPR
and confirms that, to the best of its knowledge and belief, the information contained is true
and accurate as of 30 August 2020.
This CPR includes technical sections covering mineral tenure, regional geology and
mineralisation, mineral assets (including geographical setting, geological setting and
mineralisation, exploration history and results, summary and recommendations for each
property) and concluding remarks.
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It has been prepared under the direction of a Competent Person (“CP”) as defined by
Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves,
published by the Joint Ore Reserves Committee in 2012 (the “JORC 2012 Code”).
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1.4 Verification, Validation and Reliance
This CPR is dependent upon technical, financial and legal input. In respect of the technical
information, as provided by the Company and taken in good faith by Measured, other than
where expressly stated, any figures provided have not been independently verified by means
of recalculation.
Measured has, however, conducted a review and assessment of all material technical issues
likely to influence the Exploration Assets, which included the following:
• An examination of historical data made available by the Company and found in the
public domain with respect to the Exploration Assets;
• Inspection site visits to the Imwelo Project. Site visits were completed by the CP, Chris
Grove of Measured, and accompanied by representatives of LVG.
• Discussions with key project personnel and members of the Company’s Board.
1.4.1 Technical Reliance
Measured places reliance on the Company and its technical representatives that all technical
information provided to Measured is accurate. Information obtained in the public domain that
pertains to historical records of mining and exploration, academic research or work by
geological survey organisations has been taken in good faith. Measured cannot be held
responsible for any loss or damage resulting from errors or misinterpretations in technical
information produced by third parties and summarised in this CPR. To the knowledge of
Measured, as informed by the Company, there has been no material change in respect to the
Exploration Assets since 30 August 2020.
1.4.2 Financial Reliance
Measured has not been provided with any information by the Company regarding the funds
that it intends to make available for exploration following a successful LSE listing.
1.4.3 Legal Reliance
In consideration of all legal aspects relating to the Exploration Assets, Measured has placed
reliance on the representations by the Company that the following are correct as of 30 August
2020 and remain correct until the date of the documents submitted to the LSE:
• That, save as disclosed in documents submitted to the LSE, the Directors of the
Company are not aware of any legal proceedings that may have any influence on their
rights to explore for minerals;
• That the legal owners of all mineral and surface rights have been verified; and
• That save as disclosed in documents submitted to the LSE, no significant legal issue
exists which would affect the likely viability of the exploration as reported herein.
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1.4.4 Reliance on Information
Measured believes that its opinion must be considered as a whole and that selecting portions
of the analysis or factors considered by it, without considering all factors and analyses
together, could create a misleading view of the process underlying the opinions presented in
the CPR. The preparation of a CPR is a complex process and does not lend itself to partial
analysis or summary.
Measured’s opinion in respect of the mineral prospectivity of the Mineral Assets and the
exploration recommendations is effective as of 30 August 2020 and is based on information
provided by the Company or sourced in the public domain throughout Measured’s
investigations. The opinion is subject to technical-economic conditions prevailing at the date
of this report. Measured has no obligation or undertaking to advise any person of any change
in circumstances which comes to its attention after the date of this CPR or to review, revise
or update the CPR or opinion.
1.5 Declaration and Consent
1.5.1 Declaration
Measured will receive a fee for the preparation of this report in accordance with normal
professional consulting practice. This fee is not contingent on the outcome of the Admission
and Measured will receive no other benefit for the preparation of this report.
Neither Measured, the Competent Person, nor any Directors of Measured have at the date of
this report, nor have had within the previous two years, any shareholding in the Company or
the Exploration Assets of the Company. Consequently, Measured, the Competent Person and
the Directors of Measured consider themselves to be independent of the Company.
In this CPR, Measured provides assurances to the Company that existing interpretations of
technical data pertaining to the mineral prospectivity of the Mineral Assets, as stated in
documents provided to Measured by the Company and sourced by Measured from the public
domain, where modified by Measured, are reasonable, given the information currently
available.
This CPR includes technical information, which requires subsequent calculations to derive
subtotals, totals and weighted averages. Such calculations may involve a degree of rounding
and consequently introduce an error. Where such errors occur, Measured does not consider
them to be material.
1.5.2 Consent
In compliance with the CESR Guidance and Rule 5.5.3R(2)(F) of the prospectus regulation
rules of the Financial Conduct Authority made in accordance with section 73A of the UK
Financial Services and Markets Act 2000, Measured will give its written consent to the
publication of the CPR on Company's website and all information to be contained in any
prospectus published by the Company, which has been extracted directly from this CPR.
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1.6 Qualifications of Measured
This CPR has been prepared based on a technical and economic review by a team of
consultants sourced from Measured's offices in Brisbane, Australia. These consultants have
extensive experience in the mining and metals sector and are members in good standing of
appropriate professional institutions. The consultants comprise specialists in the fields of
geology and mineral exploration (hereinafter the Technical Disciplines).
The Competent Person who has overall responsibility for this CPR is Mr Christopher Grove B.Sc
(Geology). Mr Grove has 22 years' experience in the mining and metals industry and has been
involved in the preparation of Competent Persons' Reports comprising technical evaluations of
various mineral assets internationally. Mr Grove has over 16 years’ experience relevant to the
activity which he is undertaking to qualify as a Competent Persons as defined in the JORC
Code (2012) and a Specialist Practitioner as defined in the VALMIN Code (2015).
Table 1-1 provides a summary of the designated Competent Person of the completion of this
CPR.
Mr Grove consents to the inclusion of this Report of the matters based on his information in
the form and context in which it appears.
Table 1-1: Competent Person Summary
Name Position Responsibility Independent of Metal NRG plc
Date of last site
visit
Professional designation
Chris Grove Principal
Geologist
Competent
Person Yes Oct - 2017 AUSIMM
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EXECUTIVE SUMMARY
The Geology Report and Mineral Resource Estimate for the Imwelo Project has been prepared
by Measured Group Pty Ltd (MG) in conjunction with Lake Victoria Gold Pty Ltd (LVG)
personnel.
The purpose of this report is to document the geology of Imwelo Project holdings and to
support an estimate of Mineral Resources based on information available from historical data
and 2013, 2014 and 2016 drilling campaigns carried out by LVG. This report was prepared in
accordance with the requirements of the Australian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves (JORC Code 2012 edition).
The Imwelo Project is 100% owned by LVG. It is located 160 km WSW of the town of Mwanza
and 30 km due west of the town of Geita in northern Tanzania. The Imwelo Project is set
within the Geita greenstone belt of the Lake Victoria Goldfields of northern Tanzania. This
Greenstone belt hosts several gold projects, including the Geita Gold Mine (Anglo Gold
Ashanti). The Geita greenstone belt has been the most productive in Tanzania with a nearly
continuous history of activity from 1932 to the present.
The overall geology of the Geita District comprises east-west trending greenstone belts and
gold mineralisation occurs in three main forms in the region and at the Imwelo Project,
including:
1. Auriferous quartz veins.
2. Alluvial Gold.
3. Finely disseminated gold within laterite.
There has been substantial exploration conducted on the Imwelo Project with historical
records dating back to 1999. Since tenure was transferred to LVG in 2013, four drilling
campaigns have been completed (December 2013, August 2014, December 2014 and
November 2016).
The objective of these campaigns was to confirm the historical drilling results and to increase
the confidence levels of the deposit to produce a higher Resource classification in Area C,
Western Shear Zone (WSZ), Central Zone, Central West Zone and the Main Shear Zone (MSZ)
and identified Inferred Resources in other lesser-known zones (Area A and Area B).
Approximately 3210 metres of diamond drilling (DD) and 4430 metres of reverse circulation
(RC) was completed by LVG in 2013-2014. With approximately 1960 metres of DD and 6300
metres of RC completed by LVG in 2016.
The Imwelo Project is estimated to contain a total gold Resource of 291,600 Oz, including
42,000 Oz Measured, 95,700 Oz Indicated and 153,900 Oz Inferred. Table 1-2
provides a summary of the Mineral Resources and Figure 1-1 illustrates the Imwelo Resource
area.
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Table 1-2: Imwelo Resource Estimate
NOTES
1 Total estimates are rounded, based on composites capped at 15 g/t gold at the Imwelo Project (ML 538/2015), the cut-off
grade is based on a gold price of US$1,500 and an 88% metallurgical recovery is assumed in the calculation of the cut-off grade.
A base case of 0.50 g/t has been selected.
2 Classification of Mineral Resources incorporates the terms and definitions from the Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves (JORC Code) published by the Joint Ore Reserve Committee (JORC)
Figure 1-1: Imwelo Resource Map
Location
Tonnes Ounces Grade Tonnes Ounces Grade Tonnes Ounces Grade Tonnes Ounces Grade
WSZ 129,000 13,100 3.13 671,000 50,100 2.32 667,000 35,200 1.64 1,467,000 98,400 2.19
Area C 285,000 28,900 3.16 450,000 27,100 1.87 735,000 56,000 2.53
Central 224,000 10,100 1.40 253,100 9,600 1.18 477,100 19,700 1.29
Central West 104,000 5,300 1.58 161,200 7,600 1.46 265,200 12,900 1.51
MSZ 531,300 30,200 1.77 769,200 36,100 1.46 1,300,500 66,300 1.60
Area B 296,000 23,000 2.42 296,000 23,000 2.42
Area A 185,000 15,300 2.58 185,000 15,300 2.58
TOTAL 414,000 42,000 3.15 1,530,300 95,700 1.95 2,781,500 153,900 1.56 4,725,800 291,600 1.92
TotalMeasured Indicated Inferred
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Contents
1. COMPETENT PERSONS REPORT ON THE MINERAL ASSETS OF LAKE VICTORIA GOLD LTD .............................................................................................. 3
1.1 Background ..................................................................................................... 3
1.2 Scope of Work ................................................................................................. 3
1.3 Requirement, Structure and Compliance ............................................................ 3
1.4 Verification, Validation and Reliance ................................................................... v
1.4.1 Technical Reliance ..................................................................................... v
1.4.2 Financial Reliance ...................................................................................... v
1.4.3 Legal Reliance ........................................................................................... v
1.4.4 Reliance on Information ............................................................................. vi
1.5 Declaration and Consent ................................................................................... vi
1.5.1 Declaration ............................................................................................... vi
1.5.2 Consent .................................................................................................... vi
1.6 Qualifications of Measured ............................................................................... vii
2. Introduction ................................................................................................. 1
2.1 General ........................................................................................................... 1
2.2 Report Authors ................................................................................................ 2
2.3 Site Visits ........................................................................................................ 2
3. Location and Tenure ..................................................................................... 3
3.1 Location .......................................................................................................... 3
3.2 Tenure ............................................................................................................ 3
3.2.1 Property Boundary Demarcation ................................................................. 4
3.2.2 Agreements, Licence Numbers and Rights on The Property ........................... 4
3.2.3 Environmental Liabilities and Permits .......................................................... 4
3.3 Topography, Land Use and Climate ................................................................... 4
3.3.1 Operating Season ...................................................................................... 5
3.4 Access and Infrastructure ................................................................................. 5
4. Regional Geology Setting ............................................................................. 7
4.1 Regional Geology ............................................................................................. 7
4.2 Geita Greenstone Belt ...................................................................................... 8
4.3 Imwelo Project Geology .................................................................................... 9
4.3.1 Primary Geological Units ............................................................................ 9
4.3.2 Units of Alteration .................................................................................... 10
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4.3.3 Intrusions ................................................................................................ 11
4.3.4 Scree/Eluvial Deposits ............................................................................... 13
4.4 Imwelo Gold Mineralisation .............................................................................. 13
4.4.1 Gold Mineralisation in Quartz Veins ............................................................ 16
4.5 Mineralisation Type and Model ......................................................................... 19
4.5.1 Model for Gold Deposits at the Lake Victoria Goldfields ................................ 20
4.5.2 Imwelo .................................................................................................... 21
4.5.3 Exploration Techniques ............................................................................. 21
5. Project History ............................................................................................ 22
5.1 Historical Exploration Work .............................................................................. 23
5.1.1 Pangea Minerals Ltd. ................................................................................ 23
5.1.2 Mincor Tanzania Ltd ................................................................................. 24
5.1.3 Barrick Exploration Africa Ltd ..................................................................... 26
5.1.4 Barrick Exploration Activities ...................................................................... 26
5.1.5 Great Basin Gold Ltd ................................................................................. 30
5.1.6 Peak Resources Ltd .................................................................................. 31
5.2 Historical Mineral Resources and Reserves ........................................................ 33
5.3 Production ...................................................................................................... 34
6. Recent Exploration and Data Acquisition ................................................... 35
6.1 Historical Data Collation ................................................................................... 35
6.2 Grab Sampling ................................................................................................ 36
6.2.1 Phase 1 (Artisanal Pits) ............................................................................. 36
6.2.2 Phase 2 (Mining Area) .............................................................................. 38
6.3 Historical Ground Magnetic Survey Interpretation .............................................. 39
6.4 LVG Ground Magnetic Survey ........................................................................... 40
6.5 Pitting ............................................................................................................ 44
6.6 Induced Polarisation Survey (Pole-Dipole and Gradient Array) ............................. 45
6.7 RC and Diamond Drilling .................................................................................. 49
6.8 Geochemistry ................................................................................................. 54
6.8.1 Sampling ................................................................................................. 54
6.8.2 Sample Preparation and Security ............................................................... 54
6.9 QA/QC ........................................................................................................... 55
6.9.1 Duplicates ................................................................................................ 55
6.9.2 Blanks ..................................................................................................... 56
6.9.3 Reference Material Assays ......................................................................... 57
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6.9.4 Umpire Assays ......................................................................................... 58
6.10 Data Verification ............................................................................................. 59
7. Resource Estimation ................................................................................... 60
7.1 Mineral Resource Estimate ............................................................................... 60
7.2 Geological Interpretation and Domains ............................................................. 61
7.3 Geological Modelling ....................................................................................... 62
7.3.1 Modelling Parameters and Method ............................................................. 62
7.3.2 Grade Capping ......................................................................................... 63
7.3.3 Compositing ............................................................................................. 63
7.3.4 Variography ............................................................................................. 64
7.4 Density .......................................................................................................... 65
7.5 Model Validation. ............................................................................................ 66
7.6 Resource Classification .................................................................................... 66
7.7 Factors Affecting Resource Estimate ................................................................. 67
7.8 Comparison to Previous Resource Estimates ...................................................... 67
7.9 Grade Ounce Graph ........................................................................................ 67
8. Metallurgy and Processing ......................................................................... 69
8.1 Peacocke And Simpson Mineral Processing Engineers (PSM) ............................... 69
8.1.1 Chinese Mine Bulk Sample (2013) .............................................................. 69
8.1.2 Near Surface Vein Sample (2014) .............................................................. 69
8.2 Maelgwyn Mineral Services Africa Based in Johannesburg, South Africa ............... 71
9. Adjacent or Nearby Properties ................................................................... 73
9.1 Anglo Gold Ashanti – Geita Gold Mine ............................................................... 73
9.2 Katoro Gold Plc ............................................................................................... 75
10. Forward Work Programme ......................................................................... 80
11. References .................................................................................................. 81
APPENDIX A: JORC TABLE 1 ................................................................................ 83
APPENDIX B: MINING LICENCE .......................................................................... 94
APPENDIX C: PLANS AND CROSS SECTIONS....................................................... 96
APPENDIX D: SWATH PLOTS ............................................................................. 103
APPENDIX E: IMWELO DRILLHOLE DATA ......................................................... 107
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List of Figures:
Figure 1-1: Imwelo Resource Map ................................................................................. ix
Figure 2-1: LVG Tenements .......................................................................................... 1
Figure 3-1: Location of Imwelo Project .......................................................................... 3
Figure 3-2: Local Physiography of the Imwelo Project as Obtained from LVG Differential GPS (DGPS) Survey. ............................................................................................................. 5
Figure 3-3: Regional Infrastructure Showing B163 Sealed Road Passing South of ML 538/2015, Nearby 33 kV Mwanza – Geita Powerline, Location of the Mwanza Airport and Railway from Shinyanga to Mwanza Town. ...................................................................... 6
Figure 4-1: Geological Setting of Imwelo Project ............................................................. 7
Figure 4-2: Location of the Imwelo Project Within the Geita Greenstone Belt Showing the Location of Nearby Gold Occurrences (Triangles). ............................................................ 8
Figure 4-3: Quartz Vein Within Metavolcanic (Fresh) Unit of the Lower Nyanzian Stratigraphy from the Imwelo Project. .............................................................................................. 10
Figure 4-4: Idealistic Section of the Geology of the Imwelo Project. ................................ 11
Figure 4-5: Diamond Core of Drillhole IMWDD-049 ~ 71 m, Showing Pegmatite Cut by a Younger Quartz Vein. ................................................................................................... 12
Figure 4-6: IMWDD-042, Around 85 To 90 m, Showing Different Ages of Quartz Veins Cutting Each Other. ................................................................................................................. 13
Figure 4-7: (A) Mineralised Quartz Vein Stringer Within Saprolite and (B) Non-mineralised Quartz Vein with Sulphides at Depth. ............................................................................. 14
Figure 4-8: Vertically Dipping Vein Within the Chinese ML 419/2011. ............................... 15
Figure 4-9: Mineralised Quartz Vein Fragment Showing Disseminated Pyrite (FeS2) and Box-Works (Erosion of Pyrite). ............................................................................................. 15
Figure 4-10: Quartz Vein with Arsenopyrite from IMWRC-126, 28 To 29 m. This Sample Returned an Au Value Of 8.3 g/t. .................................................................................. 16
Figure 4-11: “Bending” Of the Vein in Higher Horizons, Due to Volume Loss in the Laterite Horizon. Note that the Vein Turns More Vertical with Depth. ............................................ 17
Figure 4-12: Shear Zone with Horse Tail Fracturing along Strike and Depth. .................... 18
Figure 4-13: Tension Fractures and Riedel Shear Development Associated with Shear Zones. .................................................................................................................................. 19
Figure 4-14: Diagram Displaying the Setting for Hydrothermal Gold Deposits. From Kesler (1994). ....................................................................................................................... 20
Figure 5-1: Boundary of Pangea PL 1090/98 and PL 17/92 ............................................. 23
Figure 5-2: Location Map of PL 1545/2000 (Similar to PL 6294/2009 - Current ML 538/2015) Showing the Location of the Mincor Mineralised Zones and Mincor Delineated Structure .... 25
Figure 5-3: Barrick Grab and Soil Sampling on Historical PL 1545 (Current ML 538/2015). . 27
Figure 5-4: Barrick Second Vertical Derivative RTP Derived from Airborne Magnetic Data Showing Interpreted Lineaments and Dolerite Dykes. ...................................................... 28
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Figure 5-5: Barrick RAB, RC and Diamond Drillholes On or Near Current ML 538/2015. ..... 29
Figure 5-6: Great Basin Gold Current Land Area over Barrick Licences ............................. 31
Figure 5-7: Peak Resources RC, AC and RAB Drill Collars, as well as Gold Mineralisation, Detected in Auger Drilling on ML 538/2015. ................................................................... 32
Figure 5-8: Barrick and Peak Drillhole Assay Values ....................................................... 33
Figure 6-1: Imwelo Target Areas .................................................................................. 35
Figure 6-2: LVG Grab Sample Assay Results on ML 538/2015. All Grab Sample Values are from Quartz Veins Either in Situ or Located Nearby Artisanal Pits. .................................... 36
Figure 6-3: Grab Sample from Area C Assayed 5 g/t Gold. Note the Box-Work in the Sample and Artisanal Excavation in the Background following the Vein Strike. .............................. 37
Figure 6-4: Grab Sample from Chinese Mine Stockpile (ML 419/2011) Assayed 51 g/t Gold. Note the Presence of Sulphide (Pyrite). .......................................................................... 37
Figure 6-5: (A) The Shaft Within ML 419/2011 was Sunk to a Depth of 110 m and Contains Two Drives, (B) One at 60 m (20 m Eastwards) and another at 110 m (20 m Eastwards). .. 38
Figure 6-6: The Chinese Mining Area with Fence Removed and Ore, as well as Waste, Covering the Surface. ................................................................................................................. 38
Figure 6-7: Grab Samples from the Chinese Mine Showing Assays for Ore and Waste (N = 51). Ore Samples Comprised Sulphide Rich Quartz Vein (N = 27, Max = 51 g/t, Avg. 10.26 g/t) While Waste Samples Comprised Greenstone (N = 24, Max = 3.4 g/t, Avg. 0.71 g/t). . 39
Figure 6-8: Mineralisation Seen to Follow Lithological Contacts (Although No Contacts in Area C or Central West) ....................................................................................................... 41
Figure 6-9: Collation of Magnetic Interpretation, Surface Geochemical and Historical Drill Data .................................................................................................................................. 42
Figure 6-10: Ground Magnetic Profile Line A1 Walked On IMWRC-005, -071 and -019. Note the Peak of Magnetism Associated With IMWRC-005 Of > 1g/t Over 2 m at 46 m ............. 43
Figure 6-11: Magnetic Susceptibility on Drillchips From Hole IMWRC-001 Compared to Assay Values (g/t Gold). ........................................................................................................ 44
Figure 6-12: Magnetic Susceptibility on Drillchips From Hole IMWRC-030 (Not All Samples Assayed) Compared to Assay Values (g/t Gold). ............................................................. 44
Figure 6-13: Magnetic Susceptibility on Drillchips From Hole IMWRC-006 (Compared to Assay Values (g/t Gold). ........................................................................................................ 44
Figure 6-14: Fifty-One (51) Pits Completed Varying Between 1.5 m and 5 m in Depth ...... 45
Figure 6-15: IP Gradient (Resistivity) Data .................................................................... 46
Figure 6-16: PDP Resistivity 3D Sections for the Imwelo Project with Overlain Gradient Resistivity Data for the Imwelo Project (Looking W Towards PML 2637) ........................... 47
Figure 6-17: Western Shear Zone on the Imwelo Project Showing Surface Grab Samples, IP Resistivity and Historical Drilling Data. ........................................................................... 48
Figure 6-18: Western Shear Zone Showing 3D PDP Resistivity (Line 6400) and Historical Drilling Data. ............................................................................................................... 49
Figure 6-19: All LVG Drilling on IP Gradient Array Resistivity Data as well as Interpreted Geology from the Ground Magnetic Survey ..................................................................... 50
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Figure 6-20: Drillhole Section (Looking West) of Noteworthy Gold Intercepts in Three Holes within the Western Shear Zone (WSZ) ........................................................................... 51
Figure 6-21: PDP Resistivity Section with Drill holes ....................................................... 52
Figure 6-22: Boudins Formed by Extension Due to Shearing, where a Competent Body, is Stretched and Deformed Amidst Less Competent Surroundings ........................................ 53
Figure 6-23: Duplicate Assays (154 Duplicates) from SGS Mwanza on RC and DD Samples for the 2016 Drilling Program (Correlation of 0.77). Note that the Assay Values are Close Enough to Regard the Lab Procedures as Sound (Bar One Sample From IMWDD-044, Which we Believe is Due to the Nugget Effect on Core Samples and that Core Duplicates were not Adequately Homogenised). ............................................................................................................ 56
Figure 6-24: Blank Assays (153 Blanks) from SGS Mwanza on RC and DD Samples for the 2016 Drilling Program. Note that the Assay Values are all Below 0.15 g/t Bar Three Samples which were Between 0.1 And 0.35 g/t ........................................................................... 57
Figure 6-25: Reference Material Assays (26 From Mwanza and 1 From ALS) Inserted for the 2016 Drilling Program, showing a Correlation Of 0.999 .................................................... 58
Figure 6-26: Umpire Assays Completed by ALS Johannesburg Giving a Correlation of 0.82 59
Figure 7-1: Imwelo Project Area ................................................................................... 61
Figure 7-2: Sample Count of Gold Grades used in the Mineral Resource Estimate ............. 64
Figure 7-3: Imwelo Gold Variogram .............................................................................. 65
Figure 7-4: LVG Density Measurements on 264 Drillcore Samples Using the Water Immersion Method ....................................................................................................................... 66
Figure 7-5: Imwelo Grade/Ounce Graph ........................................................................ 68
Figure 8-1: Microscopic Results at Knelson Test Pan Concentrate 1 ................................. 70
Figure 9-1: Location of Kibo Mining Plc’s Tenements (Which Includes the Kibo Imweru Project) and the Anglo Gold Ashanti Geita Gold Mine Lease (www.kibomining.com) ....................... 73
Figure 9-2: (A) Ironstone Fragment and (B) BIF Like Fragment from Area C both from the LVG Imwelo Project. Assays Revealed no Significant Gold Values. ........................................... 75
Figure 9-3: Katoro Gold Plc Licences, Applications and Offers (Barr And Hitchcock, 2014). 76
Figure 9-4: Kibo Mining Plc Imweru Central and Imweru East Block Model for Kibo’s Resource Estimation Purposes (Barr And Hitchcock, 2014) ............................................................. 78
Figure 9-5: Katoro Gold Plc Imweru Central drill hole locations from the Kibo 2013 program. (Imweru East Is Based Upon Historical Drilling Results) ................................................... 79
Figure 6: Area C 378120E showing Block Model vs Drillhole Data .................................... 96
Figure 7: Area C 378010E showing Block Model vs Drillhole Data .................................... 96
Figure 8: MSZ 378180E showing Block Model vs Drillhole Data ........................................ 97
Figure 9: MSZ 378140E showing Block Model vs Drillhole Data ........................................ 97
Figure 10: MSZ 377170E showing Block Model vs Drillhole Data ...................................... 98
Figure 11: Central Zone 377070E showing Block Model vs Drillhole Data.......................... 98
Figure 12: Central Zone 376870E showing Block Model vs Drillhole Data.......................... 99
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Figure 13: Central Zone 376700E showing Block Model vs Drillhole Data.......................... 99
Figure 14: Central West Zone 376690E showing Block Model vs Drillhole Data ............... 100
Figure 15: Central West Zone 376580E showing Block Model vs Drillhole Data ............... 100
Figure 16: Central West Zone 376480E showing Block Model vs Drillhole Data ............... 101
Figure 17: WSZ 376120E showing Block Model vs Drillhole Data ................................... 101
Figure 18: WSZ 376120E showing Block Model vs Drillhole Data ................................... 102
List of Tables
Table 1-1: Competent Person Summary ........................................................................ vii
Table 1-2: Imwelo Resource Estimate ............................................................................ ix
Table 5-1: Exploration Work and Available Data for Companies’ Active on ML 538/2015 (Previously PL6294/2009) or Immediate Surrounding Area. ............................................. 22
Table 5-2: Great Basin Gold Resource Summary for the Imweru Project (Does not Include ML 538) ........................................................................................................................... 31
Table 5-3: Noteworthy Results from Peak Resources RC Drilling Program ........................ 32
Table 6-1: Summary of Historical Drilling within the Imwelo Project Area ......................... 53
Table 6-2: Summary of LVG Drilling – Imwelo Project Area ............................................. 53
Table 7-1: Imwelo Resource Estimate ........................................................................... 60
Table 7-2: Imwelo Block Model Parent Cell Parameters .................................................. 62
Table 7-3: Imwelo Block Model Sub-Cell Parameters ...................................................... 63
Table 7-4: Imwelo Variogram Results Au ...................................................................... 65
Table 7-5: Comparison with Previous in Situ Resource Estimates ..................................... 67
Table 8-1: Sample from LVG 2016 Drill Program Used to Make Up The 44kg Sample Sent to Maelgwyn For Metallurgical Testing ............................................................................... 71
Table 9-1: Geita Gold Mine Resources and Reserves (31 Dec. 2011) (AngloGold Ashanti, 2012). ......................................................................................................................... 74
Table 9-2: Imweru Gold Project Mineral Resources as at 10 March 2017 .......................... 77
Table 10-1: Exploration Program Budget ....................................................................... 80
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2. Introduction
2.1 General
The Geology Report and Resource estimate on the Imwelo Project in the Geita District in
Northern Tanzania has been prepared by Measured Group Pty Ltd (MG) in conjunction with
Lake Victoria Gold Pty Ltd (LVG) personnel.
The purpose of the report is to document the geology of Imwelo Project holdings
(ML538/2015) and to support an estimate of Mineral Resources based on information available
from historical data and 2013, 2014 and 2016 drilling campaigns carried out by LVG. This
report was prepared in accordance with the requirements of the Australian Code for Reporting
of Exploration Results, Mineral Resources and Ore Reserves (JORC Code 2012 edition).
The Imwelo Project is 100% owned by LVG (the 2017 Amendment to the Mining Act allows
the Tanzanian Government to take a 16% free carried non-dilutable interest in Mining
projects). It is located 160 km WSW of the town of Mwanza and 40 km due west of the town
of Geita in northern Tanzania as shown in Figure 2-1. Figure 2-1 also shows the other
tenements owned by LVG. The Imwelo Project is set within the Geita greenstone belt of the
Lake Victoria Goldfields of northern Tanzania. This Greenstone belt also hosts the Geita Gold
Mine (Anglo Gold Ashanti).
Figure 2-1: LVG Tenements
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In January 2015, a mining licence was granted to LVG for the Imwelo Project. The PL 6294
owned by LVG for the Imweru Project has been changed to Imwelo Project ML 538/2015. A
copy of the granted mining licence is shown in Appendix B.
2.2 Report Authors
The report has been compiled by Mr Chris Grove (MAusIMM), with contributions from other
MG and LVG employees.
Mr Chris Grove is a fulltime employee of MG and has no commercial interest in the project or
the company.
2.3 Site Visits
Mr Chris Grove completed site visits to the Imwelo Project in December 2014 and October
2016. The purpose of the site visits was to:
• QA/QC of drilling and sampling practices, geological logging and interpretation by on-
site geologists.
• Gain knowledge of and verify the site and local geology.
• Verify the security and storage of samples and drill core.
• Verify the methods used to collate and dispatch verification samples.
Information and knowledge acquired, and techniques and procedures observed during the
site visit has allowed MG to have confidence in the geological information and drill hole
database supplied by LVG that have been used in this report.
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3. Location and Tenure
3.1 Location
The Imwelo Project is located within the Mwanza region of northern Tanzania, 40 km by road
due west of the town of Geita and approximately 160 km west-southwest of the town of
Mwanza (Figure 3-1).
Figure 3-1: Location of Imwelo Project
3.2 Tenure
The entire property and control over minerals on, in or under the land to which the Mining Act
applies, is vested in the United Republic of Tanzania (Tanzanian Mining Act, 2010).
The Imwelo Project Mining Licence (ML 538/2015) was issued to Tanzoz Minerals Ltd and
valid up to 29 January 2025.
PML 2637 (on the western boundary of ML 538/2015) was issued to Daud Rubaraza, who has
a signed agreement with LVG to convert PML 2637 to an ML. Also, LVG has a signed agreement
with the owners of ML 419 (Chinese ML) to sell this ML to LVG. Tanzoz Minerals Ltd will
become the owner of both the additional ML’s.
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3.2.1 Property Boundary Demarcation
Boundary coordinates for the Imwelo Project were obtained from LVG before the onset of
fieldwork. Boundary positions are “paper marked”, and no field markers were sited.
3.2.2 Agreements, Licence Numbers and Rights on The Property
LVG owns 100% of Tanzoz Minerals Ltd, who in turn owns 100% of the Imwelo Project (ML
538/2015). A 2% net royalty is payable to Tanzania based General Exploration Ltd. The 2017
Amendment to the Mining Act allows the Tanzanian Government to take a 16% free carried
non-dilutable interest in Mining projects.
3.2.3 Environmental Liabilities and Permits
LVG contracted Kinabo and Mushi (2013) to complete an Environmental Impact Assessment
to comply with the forthcoming Mining Licence application. It is not within the scope of this
report to assess the EIA. The most important aspects of this report are as follows:
Possible environmental and social impacts expected to emanate from operations were
identified through site visits, consultation with stakeholders and use of professional
interpretations and simulations. Impacts were identified in all project phases which are
construction, operation and closure. During the construction period, land degradation is more
likely to occur in the form of deforestation, disturbance to underground water bodies, erosion
and consequent siltation to surface water bodies. Generally, impacts such as air pollution from
emissions; pollution of ground and surface water by hydrocarbons and excavations; and noise
pollution from machines operations are major impacts expected during this period. About ten
households and 29 farming plots of 56.5 ha have been identified to be compensated and
relocated to give way for the project. These households and their farming plots have been
surveyed and procedures for compensation are underway.
The survey was conducted in collaboration with Chato District Council and the compensation
procedure is being carried out to Government standards. The village has set aside an area in
the Imwelo village for the relocation of those affected.
3.3 Topography, Land Use and Climate
ML 538/2015 comprises relatively flat-lying terrain that reaches a maximum height of 1,200
m above mean sea-level on the southern boundary of the property. The property does not
comprise any hills or similar positive relief features (Google Earth® investigation) and contains
a swamp-like depression in the extreme north. Precipitation falls from November to December
(short rains) and from March to May (long rains). Figure 3-2 illustrates the local physiography
of the Imwelo Project obtained by Differential GPS (DGPS) survey. The extreme northern part
of the property did not allow survey results due to swampy conditions.
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Figure 3-2: Local Physiography of the Imwelo Project as Obtained from LVG
Differential GPS (DGPS) Survey.
3.3.1 Operating Season
Although most work on ML 538/2015 should be able to continue within the rainy season’s
access roads may become impassable. For example, LVG completed an RC and DD program
during the onset of the short rains in December 2013, and although movement was restricted,
it was not impossible to continue working. However, drill programs, ground geophysics and
mapping have thus far been planned for the long dry season from June to October.
3.4 Access and Infrastructure
ML 538/2015 is located 40 km due west of the town of Geita. The property is reached following
the B163 sealed road west out of Geita and turning north after 40 km onto an unnamed track
within the town of Katoro. This track is followed for 10 km, where after a turn to the east is
made to reach the southern boundary of the property
(http://resources.esri.com/arcgisdesktop/layers and Google Earth®) (Figure 3-3).
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Figure 3-3: Regional Infrastructure Showing B163 Sealed Road Passing South of
ML 538/2015, Nearby 33 kV Mwanza – Geita Powerline, Location of the Mwanza
Airport and Railway from Shinyanga to Mwanza Town.
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4. Regional Geology Setting
4.1 Regional Geology
The Imwelo Project is located within the Tanzania Craton, which comprises the oldest rocks
in the country. Vestiges of at least two Archaean orogenic belts, the Dodoman of central
Tanzania and Nyanzian–Kavirondian of northern Tanzania are ingrained in this craton (Taylor,
2009).
Figure 4-1: Geological Setting of Imwelo Project
The Nyanzian comprises distinct greenstone belts to the south and east of Lake Victoria
(Figure 4-1). These greenstone belts host major gold (Au) deposits in Tanzania. The
greenstones are generally metamorphosed to lower-middle greenschist facies and locally to
almandine amphibolite facies. They are commonly folded about steeply dipping axial planes,
generally striking east-west (Manya, 2004).
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4.2 Geita Greenstone Belt
The Imwelo Project is set within the Geita greenstone belt of the Lake Victoria Goldfields of
northern Tanzania (Figure 4-2). This Greenstone belt also hosts the Geita Gold Mine (Anglo
Gold Ashanti).
The Geita greenstone belt has been the most productive in Tanzania with a nearly continuous
history of activity from 1932 to the present. The overall geology of the Geita District comprises
E–W trending greenstone belts, and variably distributed late-kinematic felsic granites,
bounded by WNW–ESE trending migmatitic-granitoid gneiss domains to the north and south.
Figure 4-2: Location of the Imwelo Project Within the Geita Greenstone Belt
Showing the Location of Nearby Gold Occurrences (Triangles).
The gold-enriched Geita District is underlain by extensive greenstone rocks of diverse lithologic
types, rheology and chemical reactivity, and a high density of linear, E–W and NW–SE trending
felsic granitoids. The bounding gneisses and granitoids are cut by strong, NW–SE trending,
sinistral strike-slip shear zones bounding ENE–WSW trending curvilinear thrust faults and
associated shear-foliated quartz veins, and N–S trending extensional quartz veins, consistent
with the deformation history.
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4.3 Imwelo Project Geology
A substantial portion of the project area is under a thick lateritic and saprolitic weathered
horizon up to 50 m in vertical depth. Little outcrop is present on the property limiting the
amount of local bedrock mapping to artisanal pits (where deep enough). Based on the drilling
results and mapping done in artisanal pits, the felsic and mafic volcanic units of the Lower
Nyanzian stratigraphy constitute the lithologies of the license area. Quartz veins crosscut the
lithologies and are generally mineralised in gold within shear zones that have developed on
lithological contacts. Mineralisation is pronounced when veins are associated with sulphide
minerals (i.e. FeS2).
4.3.1 Primary Geological Units
The project area comprises three primary geological units:
• Greenstones of Massive Metavolcanic origin without magnetite;
• Greenstones of Metavolcanic origin with magnetite;
• Greenstones of Metavolcanic origin with porphyritic white feldspar, with or without
syngeneic round quartz grains (± 2 mm diameter).
There were no boreholes that intersected contacts of these units. Accordingly, the contact
relationships could not be determined. However, the gradual change in magnetite or feldspar
content, in any given borehole intersection and between closely spaced boreholes (laterally),
suggests that the contacts between these units are gradational.
Figure 4-3 shows a quartz vein within the metavolcanic (fresh) unit of the Lower Nyanzian
stratigraphy. Illustrated is the presence of sulphides. This vein is too thin to sample and it
cannot be stated whether it is mineralised.
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Figure 4-3: Quartz Vein Within Metavolcanic (Fresh) Unit of the Lower Nyanzian
Stratigraphy from the Imwelo Project.
4.3.2 Units of Alteration
The primary lithology can further be subdivided into four units, defined on the type and degree
of alteration:
• Laterite;
• Saprolite;
• Transitional Greenstone;
• Greenstone (un-altered).
Generally, alteration gradually decreases with an increase in depth. However, on a local scale,
the alteration may extend in depth where fractures allow deeper penetration of water and/or
oxygen.
Figure 4-4 illustrates the relationship between different degrees and types of alteration; the
nature of the shear zone with associated fracture zones and vein systems; the nature of the
Au mineralised vein system; the dip of the vein and how the vein “bends” to shallower dips in
units of higher alteration, where volume loss occurred; and associated scree – Eluvial/Lag
horizon.
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Figure 4-4: Idealistic Section of the Geology of the Imwelo Project.
The primary lithology (pre-alteration) can be distinguished in the altered units of the
transitional greenstone and mostly in the saprolite, but not in the laterite.
4.3.3 Intrusions
Intrusions of homogenous pegmatites and quartz veins were identified. Various ages of quartz
vein intrusions are present, as is evident by quartz veins cutting pegmatite (Figure 4-5) and
by quartz veins cutting each other (Figure 4-6). Only one age of pegmatite was identified,
which predates quartz vein emplacement.
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Figure 4-5: Diamond Core of Drillhole IMWDD-049 ~ 71 m, Showing Pegmatite
Cut by a Younger Quartz Vein.
Although Au mineralisation has been found in pegmatite (IMWDD-049, 69.7 to 72.2 m), the
pegmatite in question has been intruded by quartz veins (Figure 4-5). Accordingly, no
distinction regarding mineralisation in pegmatite can be made. However, in the Western Shear
Zone area, artisanal miners excavate and test both quartz and pegmatite scree, but seemingly
leave most of the pegmatite, leading to the conclusion that only pegmatite with quartz veining
is processed.
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Figure 4-6: IMWDD-042, Around 85 To 90 m, Showing Different Ages of Quartz
Veins Cutting Each Other.
4.3.4 Scree/Eluvial Deposits
Lenses of quartz scree are found within the first 5 to 12 m from the surface – within the
laterite and at places the upper sections of the saprolite horizons. The lenses are horizontally
inclined. The scree is derived from quartz veins, where the hosting geology has been chemical
leached (eluviated) away due to alteration, resulting in an eluvial deposit.
Mostly, the scree is found to be on the up-dip side of in-situ veins, indicating little to no
transport – lag deposited. However, some instances have been found where localised
transport, down surface gradient, took place. Transport, if present, is not more than 10 m. Au
mineralisation is present in scree if the scree is derived from veins that host Au.
It was found that Au mineralisation in scree is generally lower than the in-situ parent vein.
This is interpreted as being a function of alteration, suggesting that some Au bearing minerals
(possibly sulphides) are leached away during eluviation.
4.4 Imwelo Gold Mineralisation
According to Money (2009), gold at Imwelo occurs in three main forms:
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1. Auriferous quartz veins - Significant intersections announced by Mincor as well those
from Barrick’s RAB and RC programs are associated with quartz veins.
2. Alluvial gold - Near-surface, artisanal workings are found in the north-western area of
the tenement.
3. Fine disseminated gold within laterite (eluvial scree) - Commonly associated with
strongly fractured and weathered quartz, suspended in the laterite matrix. This is the
main material which local villagers are recovering gold from currently.
The recent LVG drilling campaigns confirm the presence of gold within quartz veins, but further
notes that not all veins are auriferous and the presence of shearing is regarded as a
prerequisite.
Gold is also not associated with vein only, the country-rock (i.e. hanging and footwall) also
hosts mineralisation (also to a lesser grade) at least 0.5 m into the country-rock from the
quartz vein. Figure 4-7 (a) illustrates a quartz vein stringer within saprolite from hole IMWDD-
020 (at 74 m) which is mineralised (30 cm wide – not true width) and (b) illustrates a quartz
vein with sulphides at depth and non-mineralised due to lack of shearing. Pyrite rich quartz
veins are located throughout the lithologies but are generally only mineralised within shear
zones or other large structures.
Figure 4-7: (A) Mineralised Quartz Vein Stringer Within Saprolite and (B) Non-
mineralised Quartz Vein with Sulphides at Depth.
(a) (b)
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Figure 4-8: Vertically Dipping Vein Within the Chinese ML 419/2011.
Figure 4-9: Mineralised Quartz Vein Fragment Showing Disseminated Pyrite
(FeS2) and Box-Works (Erosion of Pyrite).
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4.4.1 Gold Mineralisation in Quartz Veins
4.4.1.1 Gold Association
All gold mineralisation was found to be associated with quartz veins, although mineralisation
may at places be on the hanging- or foot-wall of the vein. Also, not all quartz veins are
associated with gold. Additionally, a given quartz vein system may be associated with Au
mineralisation, but that within the vein, gold mineralisation may be absent for intervals of the
vein system.
The controlling factors of gold mineralisation in each vein system are not yet defined.
However, positive associations between smoky quartz, arsenopyrite and pyrite were found.
Smoky quartz with sulphides, box-work and/or iron-hydroxides (limonite) was found to have
a strong positive association with gold mineralisation.
Note that not all logged smoky quartz is true smoky quartz. Some grey coloured quartz at
times gets wrongly logged as smoky quartz. Arsenopyrite seems to be associated with higher
grades of Au mineralisation (Figure 4-10). All samples, where arsenopyrite was identified
yielded gold values of 0.7 g/t Au or higher (on average values of 1.6 g/t were attained).
Figure 4-10: Quartz Vein with Arsenopyrite from IMWRC-126, 28 To 29 m. This
Sample Returned an Au Value Of 8.3 g/t.
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4.4.1.2 Vein Orientation
The main gold mineralised veins are orientated in east to west trending shear zones, with dips
seemingly ranging northwards as low as 50° to southwards as low as 70°. Vein dips in the
laterite and saprolite can be misleading, as the vein seems to “bend and fall” (Figure 4-11)
with volume loss during laterisation or saprolisation. Consequently, the dip of a given vein
would be shallower in the laterite and saprolite horizons as opposed to the deeper unaltered
greenstone horizons.
Figure 4-11: “Bending” Of the Vein in Higher Horizons, Due to Volume Loss in the
Laterite Horizon. Note that the Vein Turns More Vertical with Depth.
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Vein morphology is irregular, pinching and swelling both down-dip and along strike. Swells
and smaller side veins may develop along the main vein body, with veins pinching out in
totality and reappearing again along the vein trace (Figure 4-11).
4.4.1.3 Regional Scale Vein Emplacement
On a regional scale, the vein emplacement is interpreted to be associated with east to west
trending shearing. Shear zones may encompass multiple fracture zones (locus of fracturing),
which join and split both along strike and in-depth (Figure 4-12). Quartz veins intruded into
fracture zones.
Figure 4-12: Shear Zone with Horse Tail Fracturing along Strike and Depth.
Within the main shear zone, tension joints and Riedel Shears may develop (Figure 4-13) as
part of stress relief. These joints or shears could also be intruded by quartz veins and could
explain the quartz veining observed at Imwelo.
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Figure 4-13: Tension Fractures and Riedel Shear Development Associated with
Shear Zones.
4.5 Mineralisation Type and Model
Mesothermal, gold (Au) deposits (also labelled Orogenic gold) are a distinctive class of mineral
deposit that has been the source for much of world gold production. The ores are widely
recognised in both Phanerozoic mobile belts and older cratonic blocks (i.e. the Lake Victoria
Goldfields, located within the Tanzania Craton). Mesothermal gold deposits have formed over
more than 3 billion years of Earth’s history, episodically during the Middle Archaean to younger
Precambrian, and continuously throughout the Phanerozoic.
Mesothermal gold deposits are characteristically associated with deformed and
metamorphosed mid-crustal blocks, particularly in spatial association with major crustal
structures i.e. shear zone or thrusts. A consistent spatial and temporal association with
granitoids of a variety of compositions indicates that melts and fluids were both inherent
products of thermal events during orogenesis.
Including placer accumulations, which are commonly intimately associated with this mineral
deposit type, recognised production and resources from economic Phanerozoic orogenic-gold
deposits are estimated at just over one billion ounces of gold. Consistent geological
characteristics include (Goldfarb et. al., 2001):
1. Deformed and variably metamorphosed host rocks;
2. Spatial association with granite;
3. Normally, a spatial association with large-scale compressional to transpressional
structures; and
4. Orogenic gold mineralisation normally consists of abundant quartz-carbonate veins.
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The granite-greenstone sequences of the Tanzanian Craton show many features that are
typical of other Archaean cratons around the world, including the existence of numerous
granitoids within and around substantial masses of greenstones (metavolcanic unit), a
predominance of greenschist facies regional metamorphism, regional-scale crustal
deformation and the existence of numerous gold deposits (Taylor, 2009).
4.5.1 Model for Gold Deposits at the Lake Victoria Goldfields
The Lake Victoria Goldfields (LVGF) have recorded bedrock gold mining as early as 1898
which continued intermittently into the 1970s in the Mara, Musoma, Serengeti, Iramba Plateau
and Geita areas. These operations were primarily on mesothermal lode-type deposits within
the greenstone belts, most of the veins associated with faults and shear zones (Taylor, 2009).
Significant greenstone hosted gold in quartz vein mineralisation is typically distributed along
specific regional structures and at the boundaries between contrasted lithologic and/or age
domains. Shear zones and faults are developed along lithologic contacts between units of
contrasting competencies and along thin incompetent lithologic units. Along these contacts
and incompetent rocks, deposits will preferentially develop at bends and structural
intersections (an example is shown in Figure 4-14).
Figure 4-14: Diagram Displaying the Setting for Hydrothermal Gold Deposits.
From Kesler (1994).
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4.5.2 Imwelo
From drillcore, RC chips and Imwelo site observations, it is evident that the oxidised surface
and near-surface material consist of hard cap laterite, mottled clays and saprolite. Gold occurs
in quartz veins which can still be relatively competent. Kaolinite and iron oxides/hydroxides
are present in many samples. The fresh material comprises sericite alteration in many
instances, but lack weathering products such as kaolinite and iron oxides/hydroxides. Gold is
still present in quartz veins.
4.5.3 Exploration Techniques
Common lithologic associations include Fe-rich rocks such as tholeiitic basalts, differentiated
dolerite sills and BIF’s, and with competent porphyry stocks of intermediate to felsic
composition, whether they intrude mafic-ultramafic volcanic or clastic sedimentary rocks
(Robert et al., 2007).
Robert et al. (2007) completed a review of the discovery methods of gold deposits found in
the last 15 years and indicated that geological understanding was the key element in the
discovery process in both the greenfield and brownfield environments. Geochemistry in
support of geology plays a significant role, particularly where deposits are exposed, and
geophysics aided discovery in some cases where the discoveries were concealed. It is,
however, important to realise that geology should remain part of future gold exploration
programs (Robert et al., 2007).
Geophysical techniques used within the Geita Greenstone belt are focused upon airborne
and/or ground magnetic surveys and associated geophysical interpretation. These surveys not
only assist in defining structure but also aids in providing lithological boundaries. Additional
geophysical surveys used within the area include Induced Polarisation as well as gravity (Barr
and Hitchcock, 2014).
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5. Project History
This section provides detail on historical work on ML 538/2015 (former PL 6294/2009 or
previously labelled Imweru). The current name adopted for ML 538/2015 is Imwelo, but this
section refers to the name used in the historical datasets (Table 5-1 provides a summary of
exploration work completed on or surrounding the Imwelo Project).
Table 5-1: Exploration Work and Available Data for Companies’ Active on ML
538/2015 (Previously PL6294/2009) or Immediate Surrounding Area.
Company
Name
Pangea
Minerals Ltd
Mincor
Tanzania Ltd
Barrick Exploration
Africa Ltd (BEAL)
Great Basin
Gold
Peak
Resources
Property
owned
PLs surrounding
PL 6294
Historical PL
6294
Historical PL 6294 (JV with
Mincor)
PL surrounding
PL 6294 (JV
with Barrick)
PL 6294 (JV with Zari
Exploration)
Date 1999 - 2000 2000 - 2004 2003 - 2004 2002 - 2008 2009 - 2012
Surface
Geochemistry
Soil and pit
sampling
Mapping and
grab sampling
Mapping, grab
and soil
sampling
n/a Mapping,
grab and
hand auger
Geophysics None Ground
magnetic
Airborne
magnetic survey and IP (LVG
does not have any of these
databases)
None None
Drilling RAB, not on
PL 6294
RAB and RC RAB, RC and DD RC and DD RC, AC and
RAB
Core / Chips n/a n/a n/a n/a n/a
Survey Data n/a n/a n/a n/a n/a
Resource
Estimate
None None None 629,600 oz Inferred
(NI43-101
compliant)
None
Reason for
Ceasing
Work
Taken over by
BEAL
JV with BEAL JV with Great
Basin Gold
Subsidiaries
acquired by
Kibo Gold plc
Licence
back to GEL who
transferred
to LVG
n/a - not available
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5.1 Historical Exploration Work
The following sections describe exploration work completed by various owners of the greater
Imweru Project (as well as current ML 538/2015). The data packages were received from GEL
and did an internet and Sedar search for additional information.
5.1.1 Pangea Minerals Ltd.
Pangea Goldfields Inc. through its subsidiary Pangea Minerals Ltd. completed at least one year
of exploration work on the greater Imweru Project (194 km2) through a JV agreement with
Engineering Associates Ltd, until Pangea’s take over by African Barrick Gold plc in 2000
(Barrick kept the property in the name of Pangea Minerals Ltd.) (Pangea News Release, June
1999). Pangea did not do any work on current ML 538/2015 and focussed all exploration
efforts on the surrounding property.
Figure 5-1 shows the boundary of Pangea PL 1090/98 and PL 17/92 - surrounds PL 6294/2009
(PL 937/98 at the time and currently ML 538/2015) showing RAB drill line sections as well as
surface soil geochemical results. Note that Pangea did not own PL 937/98 and made no
mention of this PL in reports. Note the gold in soil anomalies on PL 6294/2009 (possibly from
a former owner).
Figure 5-1: Boundary of Pangea PL 1090/98 and PL 17/92
The Pangea RAB drill section data is available in image format (i.e. sections drawn from data).
LVG searched for sections immediately to the east of PL 6294/2009 but was only able to locate
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sections to the west, of which the closest sections were #’s 760 and 745C. None of the drilling
in those sections intercepted any noteworthy gold mineralisation (i.e. above 1 ppm). The
sections indicate the following lithologies:
• 0 to 1 m - Mbuga / Sand, not on section 745C;
• 1 to 5 m – Ferricrete / Laterite;
• 5 to 25 / 30 m – Upper Saprolite; and
• 25 / 30 m to 40 m – Lower Saprolite (i.e. less weathered metasediments such as tuffs)
which contains some quartz veining.
5.1.2 Mincor Tanzania Ltd
Mincor Tanzania Ltd (Mincor) earned in 60% of the Geita Project (Imweru Prospecting Licence,
PL 1545/2000) from a local Tanzanian group, Rupia Investment Company Limited, by carrying
out a pre-feasibility study (Mincor Annual Report, 2000). According to Mincor, the 2 km by 2
km Imweru licence appears to be the focal point of many regional exploration vectors, creating
a classic structural "sweet spot".
They further mention that local artisanal miners have exposed gold-bearing quartz veins
beneath laterite at numerous localities. RAB and reverse circulation (RC) drilling intersected
strike-consistent high-grade gold mineralisation at two localities namely Miyenze (towards the
eastern end of what is locally termed the Main Reef Zone) and Lukili on the eastern boundary
of the PL.
It should be noted that the data appears to be in WGS84 and that LVG georeferenced maps
containing said data for use in Arc 1960 UTM Zone 36S. LVG georeferenced Mincor maps
containing the said data (for use in datum Arc 1960, UTM Zone 36S), but was unable to obtain
drill hole database information for modelling.
Mapping, rock-chip sampling, a ground magnetic survey and RAB and RC drilling, carried out
by Mincor, has demonstrated the presence of high-grade gold mineralisation along east-west
striking shear zones, particularly at intersections with northeast striking structures. Drill
results from Miyenze (southern border of current ML 419/2011, Figure 5-2) include (0.5 g/t
cut off):
• 20.09 g/t gold over 1 m in a zone averaging 7.09 g/t over 3 m from 16 m downhole
in RAB hole IRB016;
• 33.5 g/t gold over 1 m from 34 m downhole in RC hole IRC003, located 50 m to the
east; and
• 31.5 g/t gold over 1 m in a zone averaging 9.39 g/t over 4 m from 54 m downhole in
RC hole IRC004, located a further 70 m to the east.
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Figure 5-2: Location Map of PL 1545/2000 (Similar to PL 6294/2009 - Current ML
538/2015) Showing the Location of the Mincor Mineralised Zones and Mincor
Delineated Structure
These three intersections give the zone a tested strike length of 120 m (although internal
grade continuity can only be confirmed by further drilling). A line of RAB holes immediately
east of IRC004 intersected only low-grade mineralisation (4 m @ 1.17 g/t from 26 m in IRB20),
but the high-grade zone remains open to the west and at depth.
The second-high grade zone is in the Lukili area approximately 500 m to the northeast of
Miyenze. One line of five RAB holes and one RC hole were drilled in this area, intersecting
the zone in two localities over a strike length of 75 m and leaving it open along strike to the
east and west and at depth. The RC hole (IRC005) intersected 16.87 g/t over 1m in a zone
averaging 8.64 g/t over 5 m from 60 m downhole. The RAB traverse, drilled 75 m east of
IRC005 intersected the following in three of five holes:
• 10.1 g/t over 1 m in a zone averaging 7.91 g/t over 5 m from 52 m downhole;
• 14.17 g/t over 1 m in a zone averaging 2.86 g/t over 6 m from 8 m downhole; and
• 7.28 g/t over 2 m from 20 m downhole.
The Mbilizi area in the north-western part of the licence has been the subject of recent
artisanal mining which has exposed numerous auriferous quartz veins. Two lines of air-core
holes were drilled. While only low tenor intersections were obtained (1 m @ 1.48 g/t from 25
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m, 2 m @ 1.91 g/t from the surface and 2m @ 1.92 g/t from 20 m) the drilling indicated the
presence of sub-horizontal quartz veins and altered intrusive lithologies.
5.1.3 Barrick Exploration Africa Ltd
The Barrick (Byemelwa et al. (a), 2003) historical Imweru Project (Historical PL 1623 and PL
1545) is situated at the western end of the east-trending Geita Greenstone Belt. Barrick was
granted access to work on PL 1545 (current ML 538/2015) in November 2002, resulting from
long time negotiations with the owner (Ms Rupia and Mincor in a JV partnership) (Byemelwa
et al. (a), 2003).
5.1.4 Barrick Exploration Activities
The Barrick data LVG received from GEL is in PDF reports (data is set in Arc 1960 UTM Zone
36S). Barrick completed the following exploration work on the Imweru Project (Historical PLs
1545 and -1623).
• Geological mapping (1:5,000).
• Grab sampling program and soil geochemistry (Latter on 400 m line spacing by 100 m
station spacing, initially on NE-SW lines, later N-S lines on PL 1545, current ML
538/2015
• Airborne Magnetic Geophysical Survey by Fugro and Induced Polarisation surveys.
• RAB, RC and Diamond drilling.
a). Geological Mapping and Soil/Grab Sample Geochemistry
The laterite-covered plains of the Imweru Project area (PL 1545 and PL 1623) are primarily
underlain by tuffaceous units while recent alluvial sediments (silts, sand and mbuga) occur in
low-lying areas. It should be noted that according to Byemelwa et al. (a) (2003) the regolith
profile observed through pitting and RAB drilling revealed transported cover, which deemed
the soil results to be unreliable.
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Figure 5-3: Barrick Grab and Soil Sampling on Historical PL 1545 (Current ML
538/2015).
Significant values were returned from the rock samples; 30% with values between 1 and 5
g/t Au; 30% with values between 5 and 20 g/t Au; two samples assayed 68.8 g/t Au and
405.4 g/t Au with the rest of the samples being above 0.1 g/t Au (Figure 5-3).
b). Airborne Geophysics
Fugro Airborne Survey (South Africa) completed an aeromagnetic/radiometric survey over the
Barrick Imweru Project (PL 1545 and PL 1623) in March 2002 (Figure 5-4).
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Figure 5-4: Barrick Second Vertical Derivative RTP Derived from Airborne
Magnetic Data Showing Interpreted Lineaments and Dolerite Dykes.
An interpretation of the aeromagnetic data revealed the following:
• The regional lithological strike is E-W while a series of E-W trending magnetic features
have been interpreted as being magnetic basalts/mafic tuffs.
• Mafic volcanic units are cross-cut by NE-trending magnetic lineaments that could be
interpreted as rejuvenated Archaean faults overprinted with dolerite dykes.
• The NW to WNW-trending structures form part of a series of regional-scale structures.
These are a few, interpreted as faults. In PL 1545 the lithologies seem to be displaced
(dextral sense of movement) along these faults. The “mbuga” north of PL 1545 follows
this trend and has been interpreted as being a shear zone, the Nyaviyambu shear.
• E-W-trending structures are the most prominent structures of this area, also the
lithological trends. Structural interpretation of the airborne magnetic data considers
these as being lithologic contacts, shear zones or faults. A subtle E-W trending
structure coincides with known mineralisation within PL 1545.
• Several circular magnetic patterns are evident to the south and far west of the property
and are thought to arise from intrusive activity. Pitting done on two of these intersected
granites (Outside current ML 538/2015).
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c). Induced Polarisation Surveys
Orientation IP survey lines were run over the property but no significant IP (resistivity or
chargeability) signature was defined in the prospect area.
Figure 5-5: Barrick RAB, RC and Diamond Drillholes On or Near Current ML
538/2015.
d). Drilling
Barrick completed 1,090 RAB drill holes for 19,174 m (Byemelwa et al. (b), 2003) during 2003,
of which 259 RAB holes are located inside current ML 538/2015 (Figure 5-5). The most
significant RAB intersections from current ML 538/2015 (values in g/t gold) include:
• IMRAB296: 20.8 g/t gold over 3 m from 11 m
• IMRAB314: 1.14 g/t gold over 3 m from 8 m
• IMRAB338: 1.20 g/t gold over 11 m from 26 m
Barrick completed 13 RC holes (Byemelwa et al. (c), 2003) for 2,450 m during 2003. Eight of
these holes were drilled on current ML 538/2015 while the remaining holes were drilled within
400 m of the PL boundary. Significant RC intersections (values in g/t Au) on, or near ML
538/2015 include:
• IMRC001: 1.2 g/t gold over 10 m from 97 m
• IMRC004: 2.39 g/t gold over 12 m from 120 m
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• IMRC009: 6.15 g/t gold over 2 m from 124 m
• IMRC013: 1.48 g/t gold over 6 m from 100 m
Barrick completed eleven (11) diamond drill holes (Byemelwa et al., 2004), totalling 2,825 m
of diamond drilling in 2004. The intersected lithologies were mainly mafic to intermediate
volcanics (for the Mincor target i.e. current ML 538/2015) and diorite/gabbro (for the Imweru
Central and Rupia targets i.e. outside current ML 538/2015) with minor quartz-feldspar
porphyry and mafic intrusions. Structurally, the lithologies strike E-W, dipping about 65° to
sub-vertical towards the north. Foliation is developed at variable degrees of intensity with
some rocks displaying shearing fabric. Drill cores display multiple sets of fractures, micro-
faults and folding (a dominantly ptygmatic type of folding). The most significant DD
intersections (values in g/t Au) on, or near ML 538/2015 include:
• IMDD001: 0.94 g/t gold over 1.88 m from 213 m
• IMDD003: 20.90 g/t gold over 0.56 m from 192 m
• IMDD005: 2.32 g/t gold over 0.50 m from 174 m
• IMDD007: 1.52 g/t gold over 2 m from 279 m
Comparing the diamond drill results with those from shallow (RAB and RC) drilling from the
current ML 538/2015, the mineralisation is weaker at depth (IMDD001), and the quartz veins
are narrow (IMDD003), with no mineralised envelope or strong alteration halo. The difference
in grade between shallow and at depth intersections on the Barrick Imweru Project could be
attributed to near-surface supergene enrichment in a region characterised by sporadic narrow,
high-grade quartz veins. However, the limited amount of diamond and RC drilling not fully
investigating known structures and known mineralised zones does provide the potential for
additional detailed investigations (see Figure 5-8 for a combination of Barrick and Peak drill
hole locations and assays).
5.1.5 Great Basin Gold Ltd
Great Basin Gold Ltd (Great Basin) managed a joint venture with African Barrick Gold Plc on
the Imweru Project (excluding the current ML 538/2015, but surrounding the said PL). Great
Basin completed exploration work which included an NI43-101 Inferred Resource (Fier, 2009).
Figure 5-6 shows Great Basin Gold project in relation to the Imwelo Project. Table 5-2 shows
the Imweru mineral resource summary (does not include ML 538).
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Figure 5-6: Great Basin Gold Current Land Area over Barrick Licences
Table 5-2: Great Basin Gold Resource Summary for the Imweru Project (Does not
Include ML 538)
5.1.6 Peak Resources Ltd
Peak Resources Ltd (Peak) commenced working on ML 538/2015 in November 2009 with the
mapping of the regolith and GPS survey of the artisanal workings, together with grab sampling
of quartz vein material from pit spoils (Loyd, 2012). Numerous shafts were also entered by
Peak employees (note the writer does not mention which shafts were entered) to assess the
depth, content and genesis of the extensive deep laterites and, where workings in saprolite
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existed, to sample the quartz veins and foot- and hanging-wall clayey saprolite. Also, Peak
completed 64 RC drill holes for 4,145 m undertaken in 2010. Hole spacing was 20 m with
collars on north-south fences, at 180° azimuth and inclined at -60°.
Hand augers were used to obtain samples of corroded ferricrete or lateritic pisolite; average
auger depth was 107 cm, with a minimum of 5 cm (channel sampling of surface laterite) and
a maximum of 760 cm. The programme was completed early in 2009, for a total of 114 auger
samples which included 4 duplicates. Figure 5-7 shows Peak Resources RC, AC and RAB drill
collars as well as gold mineralisation detected in auger drilling (one sample taken from each
auger hole) on ML 538/2015. Table 5-3 shows noteworthy results from Peak Resources RC
drilling program.
Figure 5-7: Peak Resources RC, AC and RAB Drill Collars, as well as Gold
Mineralisation, Detected in Auger Drilling on ML 538/2015.
Table 5-3: Noteworthy Results from Peak Resources RC Drilling Program
Hole No. From (m) To (m) Width (m) g/t Gold
2BH-004 40 45 5 5.89
7BH-002 22 25 3 13.03
8BH-002 25 29 4 3.74
8BH-003 57 59 2 3.83
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An examination of the RC analytical results and geological logs by Loyd (2012) indicates that
gold is most often associated with the recorded intersections of quartz veins and stringers;
less frequently in indurated laterite/saprolite within the top 8 m or so of the soil profile where
it has been chemically concentrated by the lateritisation process; more sparsely where it has
been mechanically concentrated around 12 m depth and, rarely, in association with fresh
carbonated intermediate metavolcanics at depth.
The picture, therefore, emerges of quartz vein-hosted gold mineralisation within a massive
intermediate-mafic volcanic pile. Figure 5-8 shows Barrick and Peak drill hole assay values (XY
location on the surface) showing boundaries of ML 538/2015 (historical PM 6294/2009), ML
419/2011 and PML 2637.
Figure 5-8: Barrick and Peak Drillhole Assay Values
5.2 Historical Mineral Resources and Reserves
Apart from the NI43-101 compliant Resource Estimate on the Great Basin Gold historical
Imweru Project (surrounding ML 538/2015) (Table 5-2), no other historical Mineral Resources
or Reserves have been recorded.
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5.3 Production
No historic production, apart from small scale mining, has been recorded on ML 538/2015.
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6. Recent Exploration and Data Acquisition
Lake Victoria Gold Ltd (LVG) completed the following exploration on the Imwelo Project since
2012:
• Collation of historical data;
• Grab sampling of artisanal mine areas and limited additional pitting;
• Induced Polarisation (IP) gradient and Pole-dipole surveys;
• LVG ground magnetic survey;
• Interpretation of historical ground magnetic data and internal ground magnetic survey;
• RC and Diamond drilling with associated modelling and resource/reserve calculations;
• Metallurgical testing.
The Imwelo Project is divided into different project areas (by name) for ease of reference in
the text (Figure 6-1).
Figure 6-1: Imwelo Target Areas
6.1 Historical Data Collation
All available historical data was reviewed, which was used in part to ascertain the gold
mineralisation potential of the property and to provide additional information for the LVG drill
target delineation.
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6.2 Grab Sampling
LVG completed grab sampling in two phases:
1. From Artisanal Pits.
2. From the Chinese mine compound (i.e. material removed from the Chinese Shaft, but
never processed Figure 6-5).
6.2.1 Phase 1 (Artisanal Pits)
Figure 6-2: LVG Grab Sample Assay Results on ML 538/2015. All Grab Sample
Values are from Quartz Veins Either in Situ or Located Nearby Artisanal Pits.
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Figure 6-3: Grab Sample from Area C Assayed 5 g/t Gold. Note the Box-Work in
the Sample and Artisanal Excavation in the Background following the Vein Strike.
Figure 6-4: Grab Sample from Chinese Mine Stockpile (ML 419/2011) Assayed 51
g/t Gold. Note the Presence of Sulphide (Pyrite).
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6.2.2 Phase 2 (Mining Area)
LVG retrieved an additional 50 surface grab samples (not in situ) from the Chinese mine on
ML 419/2011. These samples are from the shaft excavated within the Mining Licence (ML
419).
Figure 6-5: (A) The Shaft Within ML 419/2011 was Sunk to a Depth of 110 m and
Contains Two Drives, (B) One at 60 m (20 m Eastwards) and another at 110 m (20
m Eastwards).
Figure 6-6: The Chinese Mining Area with Fence Removed and Ore, as well as
Waste, Covering the Surface.
Sampling from the Chinese Mine comprised of grab sampling from stockpiles. LVG retrieved a
total of 50 grab samples from this site, focusing on ore (i.e. quartz vein) and waste (i.e.
greenstone). Figure 6-6 shows the Chinese Mining area with fence removed and ore as well
as waste covering the surface. Local artisanal miners are working through the dumps. Note
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that the Chinese miners only stockpiled the ore, without selling, which is why LVG was able
to sample ore material once the mine fence was removed (The ML owners cited increased
interest in other commodity types as a reason for moving away from ML 419/2011).
Figure 6-7: Grab Samples from the Chinese Mine Showing Assays for Ore and
Waste (N = 51). Ore Samples Comprised Sulphide Rich Quartz Vein (N = 27, Max
= 51 g/t, Avg. 10.26 g/t) While Waste Samples Comprised Greenstone (N = 24,
Max = 3.4 g/t, Avg. 0.71 g/t).
The Chinese mine grab sampling program is important due to the following factors:
• The samples are all from the said mine and although representative of the Chinese
Mine Shear (striking roughly 080o), these samples prove the presence of gold at
varying depth levels on the property.
• The gold assay values from waste (greenstone) samples prove that gold is not
restricted to the quartz vein (ore) only and that the waste rock (probably hanging- and
foot-wall) is also mineralised to a lesser extent.
6.3 Historical Ground Magnetic Survey Interpretation
LVG contracted Namibia based Earthmaps Consulting (Mr Klaus Knupp) to complete an
interpretation of the ground magnetic survey data as completed by Mincor Tanzania Ltd.
Mincor completed a ground magnetic survey over the Imwelo Project area on 55 m E-W line
spacing and 10 m N-S station spacing, but on an unknown geographic datum. Different datum
scenarios were investigated to locate the magnetic grid correctly:
0
5
10
15
20
25
30
35
40
0 10 20 30 40 50 60
Go
ld (
g/t)
No. of samples
Chinese Mine grab samples
ORE
Waste
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• Location of artisanal pits on Magnetic data maps and correspondence to known
locations on the ground (note that the ground magnetic survey and artisanal pits’
datum might differ).
• Location of E-W structures in relation to known structures on the ground (E-W
structures’ locations should be more accurate due to 10 m station spacing by ground
magnetic survey).
• Location of interpreted NW-SE dolerite dyke (note that the location of N-S structures
may vary due to 55 m line spacing used).
• Location of the historical PL 6294/2009 boundary (slightly larger than current
boundary) in relation to the area covered by the ground magnetic survey.
Knupp identified several noteworthy lithological settings, but more importantly, was able to
discern the important E-W and N-S structures. During the LVG drilling campaigns, it was noted
that mineralisation is associated with the E-W structures. However, the mineralisation seems
to end abruptly, and it is believed that the N-S structures play a vital role in the latter. As
such, the exact location of these N-S (and E-W) structures is imperative for further resource
estimation modelling, and an additional ground magnetic survey is recommended (on a finer
N-S line spacing).
6.4 LVG Ground Magnetic Survey
After it was not possible to know the exact location of the previous ground magnetic survey,
LVG decided to complete its survey as follows:
• Use ARC1960 UTM36S;
• Use two G5 Magnetometers (one as base station) and normalise all data from roaming
station to base station;
• Set base - and roaming magnetometer as well as GPS intervals both to the same time
interval;
• Complete the survey on 20 m line spacing and 10 m station spacing intervals (previous
was on 55 m line spacing); and
• Have Earthmaps Consulting (Mr Klaus Knupp) again complete the interpretation.
The outcomes of this more detailed survey are as follows:
• The use of Arc1960 UTM 36S on the historical data was correct;
• The closer spaced N-S lines did not add significant additional detail, although some
features in the previous investigation were discarded;
• Mineralised veins (or at least hanging- or foot-wall of such veins) are associated with
magnetic highs; and
• Mineralised vein systems seem to be associated with E-W shear-zones developed on
or near lithological contacts (Figure 6-8).
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Figure 6-8: Mineralisation Seen to Follow Lithological Contacts (Although No
Contacts in Area C or Central West)
Knupp states the following as part of his conclusion of the interpretation:
Large, gold-bearing shear zones in the Birimian of West Africa are frequently associated with
sericitic alteration which in places is identifiable through regolith in the form of potassium
anomalies in airborne radiometric surveys. It may be worthwhile to run a trial ground
radiometric survey across the most promising shear zones in the Imwelo area to see if they
are associated with elevated potassium (or other unexpected) radiometric signatures.
If this can be confirmed, it may be worthwhile to conduct a more extensive ground radiometric
survey which may further significantly improve the targeting procedure and geological
understanding of the Imwelo Prospect.
Figure 6-9 shows the collation of magnetic interpretation, surface geochemical and historical
drill data. Note that the WSZ comprises a generalised 280o (strike direction) trending
interpreted structure associated with exceptional historical drill hole assays as well as good
LVG grab sample results. Similar for the Main Shear Zone, but no structure was noted in Areas
A and C (where it is known to be present).
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Figure 6-9: Collation of Magnetic Interpretation, Surface Geochemical and
Historical Drill Data
Additional N-S profile lines were walked across the E-W trending mineralised units on 5 m
station spacing. This was done to ascertain if there are any specific characteristics of known
mineralised areas associated with the magnetic survey.
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Figure 6-10: Ground Magnetic Profile Line A1 Walked On IMWRC-005, -071 and -
019. Note the Peak of Magnetism Associated With IMWRC-005 Of > 1g/t Over 2
m at 46 m
From this survey, it was evident that subtle magnetic highs are associated with the
mineralisation, whether it is magnetic minerals associated with the hanging or the footwall.
To test this theory, LVG completed Magnetic susceptibility tests on drillcore and drill chip
samples, taking care to take the sample out of the core trays before taking readings. No
definitive information could yet be gathered from this susceptibility survey, but subtleties do
exist in the data that should be used for further target generation at the project area.
Figure 6-11 shows magnetic susceptibility on drill chips from hole IMWRC-001 compared to
the assay values returned (g/t gold). Note the magnetic peak after sample 100 noting possible
magnetic materials in the footwall of the mineralisation. Figure 6-12 shows the same
comparison for hole IMWRC-030 (Note that not all samples were assayed) showing that the
magnetic peaks are associated with hanging and footwall magnetic materials. Figure 6-13
shows the same comparison for hole IMWRC-006 also noting that the magnetic peaks are
associated with hanging- and foot-wall magnetic materials.
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Figure 6-11: Magnetic Susceptibility on Drillchips From Hole IMWRC-001
Compared to Assay Values (g/t Gold).
Figure 6-12: Magnetic Susceptibility on Drillchips From Hole IMWRC-030 (Not All
Samples Assayed) Compared to Assay Values (g/t Gold).
Figure 6-13: Magnetic Susceptibility on Drillchips From Hole IMWRC-006
(Compared to Assay Values (g/t Gold).
6.5 Pitting
LVG completed a total of 51 pits (60 were delineated, but 9 could not be excavated due to
either hard surface laterite, excessive water or infrastructure). Pits were sampled at the
bottom 1 m as a composite sample, which was assayed for gold. Figure 6-14 illustrates fifty-
0
1000
2000
3000
4000
5000
0
0.2
0.4
0.6
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46
51
56
61
66
71
76
81
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96
10
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GOLD ppm
Mag Sus10-5
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Gold ppm
Mag Sus 10-5
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Gold g/t
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one (51) pits completed varying between 1.5 m and 5 m in depth. Red stars indicate
mineralisation above 0.1 ppm gold intercepted in one of the pit samples, blue stars are barren
(no gold values) pits, and black stars are pits that could not be excavated. Pits were located
based on artisanal workings as well as structure as delineated by Knupp (2013). Note the pit
anomalies in the WSZ associated with interpreted Knupp structures.
Figure 6-14: Fifty-One (51) Pits Completed Varying Between 1.5 m and 5 m in
Depth
Pit locations were demarcated based upon:
• The known location of artisanal pits and postulated vein strike; and
• Magnetic interpretation by Knupp and location of structure.
6.6 Induced Polarisation Survey (Pole-Dipole and Gradient Array)
LVG contracted Cedric Simonet to complete a gradient array and Pole-Dipole survey on the
Imwelo Project during 2013 (before drilling). The aims of this survey were:
• Complete a gradient array (2D) survey (chargeability and resistivity) over as much of
the project area as possible (northern sections not possible due to Mbuga while highest
density village area was also not surveyed).
• Locate favourable areas on gradient array to complete Pole-Dipole surveys (3D).
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• Both surveys aimed to locate quartz vein within shear-zones (resistivity high) as well
as disseminated sulphides (chargeability high) within these quartz veins (in this
environment disseminated sulphide in a shear zone is usually associated with gold
mineralisation).
Figure 6-15 shows IP gradient (resistivity) data overlain on interpreted magnetic information
showing historical drilling and LVG grab sample as well as pit assays. Note the roughly E-W
trending resistivity anomalies (possible quartz veining) within the WSZ, Chinese Shear and
Area C (latter did not contain structural data, but IP shows possible quartz veining). Other IP
target areas (E-W anomalies) associated with historical drilling are in the northern and
southern parts of the property.
Figure 6-15: IP Gradient (Resistivity) Data
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Figure 6-16: PDP Resistivity 3D Sections for the Imwelo Project with Overlain
Gradient Resistivity Data for the Imwelo Project (Looking W Towards PML 2637)
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Figure 6-17 shows the Western Shear zone on the Imwelo Project showing surface grab
samples (triangles), IP resistivity (PD and gradient) (PDP sections are shown in 2D) and
historical drilling data. Note the association between historical drilling assays and the PDP
resistivity within the WSZ (lines 6400 and 6700). Inset map shows gradient resistivity for the
Imwelo Project.
Figure 6-18 shows the Western Shear zone showing 3D PDP resistivity (line 6400) and
historical drilling data.
Figure 6-17: Western Shear Zone on the Imwelo Project Showing Surface Grab
Samples, IP Resistivity and Historical Drilling Data.
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Geology and Resource Estimate Report
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Figure 6-18: Western Shear Zone Showing 3D PDP Resistivity (Line 6400) and
Historical Drilling Data.
Although the Gradient array and PDP survey did not penetrate more than 50 m (vertical
depth), the near-surface sulphide-rich quartz vein detection has been invaluable. It must be
noted that some other materials may cause chargeability - (clays) and resistivity anomalies
(i.e. air). LVG looked at PDP resistivity anomalies showing vertical or near-vertical dip
orientations and are regarded as target areas where these are associated with geochemical
and magnetic data anomalies.
6.7 RC and Diamond Drilling
LVG completed 15,877 m of drilling from 248 holes (10,709 m from 195 RC holes and 5,168
m from 53 Diamond drill holes). Significant results from LVG drilling include (weighted
averages):
Previous LVG drill programs on Imwelo:
• 14.15 g/t over 7 m from 33 m in hole IMWRC-037
• 6.75 g/t over 4 m from 62 m in hole IMWRC-009
• 8.37 g/t over 1.2 m from 62 m in hole IMWDD-030
• 3.59 g/t over 6 m from 21 m in hole IMWRC-067
• 3.48 g/t over 5 m from 37 m in hole IMWRC-018
• 2.59 g/t over 5 m from 15 m in hole IMWRC-065
• 4.15 g/t over 4 m from 20 m in hole IMWRC-038
• 1.5 g/t over 4 m from 40 m in hole IMWRC-040
• 1.02 g/t over 4 m from 43 m in hole IMWRC-155
• 5.98 g/t over 3 m from 15 m in hole IMWRC-041
• 5.20 g/t over 3 m from 43 m in hole IMWRC-047
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• 14.72 g/t over 5 m from 49 m in hole IMWDD-003
• 6.39 g/t over 2 m from 55 m in hole IMWRC-014
2016 LVG drill program on Imwelo:
• 5.11 g/t over 1 m from 9 m in hole IMWRC-176
• 4.64 g/t over 2 m from 28 m in hole IMWRC-126
• 4.46 g/t over 1 m from 30 m in hole IMWRC-138
• 3.21 g/t over 2 m from 29 m in hole IMWRC-107
• 2.63 g/t over 2 m from 36 m in hole IMWRC-114
• 2.44 g/t over 3 m from 17 m in hole IMWRC-077
• 2.39 g/t over 3 m from 34 m in hole IMWRC-105
• 2.26 g/t over 2 m from 37 m in hole IMWRC-134
• 1.59 g/t over 6 m from 38 m in hole IMWRC-152
Figure 6-19: All LVG Drilling on IP Gradient Array Resistivity Data as well as
Interpreted Geology from the Ground Magnetic Survey
Drill holes were delineated based upon:
• Historic drilling results;
• Historical ground magnetic interpretation;
• Surface geochemistry and vein exposure mapping (mostly from artisanal pits);
• IP survey.
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Due to mineralisation within E-W striking shear-zones, all LVG drill holes were planned and
drilled along strike at spacings varying between 25 m and 100 m for all drilling programs.
Also, step forward and back holes were drilled at between 5 and 10 m spacings when
noteworthy mineralisation was intercepted. All holes were drilled at 180o azimuth and -60o
dips to intersect the sub vertically dipping quartz veins. Figure 6-20 shows an example of a
drill hole section in the WSZ. These holes are associated with a prominent IP gradient and
PDP anomaly (chargeability and resistivity) as well as surface geochemical anomalies.
Figure 6-20: Drillhole Section (Looking West) of Noteworthy Gold Intercepts in
Three Holes within the Western Shear Zone (WSZ)
Figure 6-21 shows a PDP resistivity section showing a perfect correlation with quartz vein
intercepted in hole IMWDD-003. The inset gradient chargeability map shows the possible
presence of disseminated sulphides which were picked up in the quartz vein and led to an
intercept of 14.72 g/t over 5 m. The most important aspect of this image is to show the use
of PDP and gradient IP surveys on the Imwelo Project and to narrow the search for additional
target areas.
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Figure 6-21: PDP Resistivity Section with Drill holes
The lack of veining in hole IMWRC-009 (down-dip of the intersected vein) may be due to
localised pinching and swelling of quartz veins (Hitchcock and Barr, 2014). Quartz veins in the
Lake Victoria Goldfields generally exhibit pinch and swell (boudinage) structures which are
regarded typical features of sheared veins and shear zones where, due to stretching along
the shear foliation and shortening perpendicular to this, rigid bodies break up. An example is
shown in Figure 6-22 noting that this scenario is possible within the LVG Imwelo Project where
closely spaced drill holes lack quartz vein development down-dip.
Table 6-1 documents a summary of historical drilling within the Imwelo Project Area. While
Table 6-2 documents a summary of all LVG drilling (split by campaign) within the Imwelo
Project Area.
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Figure 6-22: Boudins Formed by Extension Due to Shearing, where a Competent
Body, is Stretched and Deformed Amidst Less Competent Surroundings
Table 6-1: Summary of Historical Drilling within the Imwelo Project Area
Table 6-2: Summary of LVG Drilling – Imwelo Project Area
Company Hole Type No. Holes Total m
Barrick
DD 4 1250
RAB 496 22627
RC 13 2285
Total 513 26162
Mincor
RAB 32 1724
RC 7 481
Total 39 2205
PEAK
AC 19 720
RC 64 4207
Total 83 4927
Company Years Hole Type No. Holes Total m
LVG 2013/ 2014
DD 33 3212
RC 73 4412
Total 106 7624
LVG 2016
DD 20 1957
RC 122 6297
Total 142 8254
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6.8 Geochemistry
6.8.1 Sampling
LVG collected RC drillchip and drill core samples from 122 RC and 20 diamond drill holes during
the 2016 drill campaign. Sample retrieval and storage (a representative sample of all drilling
is stored in a warehouse in Geita township) involved the following:
6.8.1.1 RC Drilling
a. Sampling was at 1 m intervals;
b. All the 1 m sample interval received from cyclone on the drill-rig was weighed and all
the sample placed in an approx. 50 kg plastic bag and left next to the drill hole;
c. The splitting team would then come after the hole is finished and then split the ~50
kg sample into an approx. 2 kg sample for storage - all remaining sample left next to
the drill hole, while 2 kg bags are removed and put into storage;
d. Once the hole has been logged by a geologist (using chip trays) and possible gold
mineralisation intervals identified, another 2 kg sample was split (from the remainder
of the sample left next to the drill hole) for laboratory analysis;
e. Exploration manager or senior geologist double-checks some of the logs and sampling;
f. All samples in the field were guarded by multiple security guards for 24 hours;
g. No material is removed from ~2 kg laboratory assay sample;
h. Laboratory assay sample, as well as the storage sample, is labelled with a sample tag
and placed inside of a bag.
6.8.1.2 Diamond Drilling
a. Drillcore received from the drill-rig is stored at the rig until the hole is finished;
b. Core runs are measured by a technician at the rig, who makes certain that QA/QC is
to standard;
c. Core is logged at the camp by a geologist who examines the areas to be assayed;
d. Only these assayed sections are split at the camp into two halves using a diamond
coated saw;
e. Exploration manager or senior geologist double-checks some of the logs and sampling;
f. The remainder of the drill core is stored.
6.8.2 Sample Preparation and Security
6.8.2.1 Sample Preparation (Main Assay Laboratory)
Sample preparation at SGS Mwanza involved the following:
• Entire sample crushed and pulverised (dried at 110 °C if required);
• Sample crushed to 2 mm;
• Sample pulverised to 75 µm;
• 75 µm mesh size used for pulverised material of which more than 85% of pulverised
material passed through the mesh size.
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6.8.2.2 Sample Analyses (Main Assay Laboratory)
Sample assay at SGS Mwanza involved the following:
• Gold by FAA505 with AAS finish using 50 g sample – accredited method.
6.8.2.3 Sample Preparation (Umpire Assay Laboratory)
Sample preparation at ALS Mwanza involved the following:
• Entire sample crushed and pulverised (dried at 110 °C if required);
• Sample crushed to 70 % <2 mm;
• Sample pulverised to 75 µm;
• 75 µm mesh size used for pulverised material of which more than 70% of pulverised
material passed through the mesh size.
6.8.2.4 Sample Analyses (Umpire Assay Laboratory)
Sample assay at ALS South Africa involved the following:
• Gold by Au-AA26 with AAS finish using 50 g sample – accredited method.
6.9 QA/QC
In addition to the below QA/QC completed by LVG, both SGS and ALS also performed QA/QC
on samples submitted.
6.9.1 Duplicates
SGS Mwanza completed 154 duplicate assays on RC and DD samples. LVG added approx. 1
duplicate after every 20 samples submitted for lab assay. This is sufficient QA/QC duplicate
sample procedures for the lab used.
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Figure 6-23: Duplicate Assays (154 Duplicates) from SGS Mwanza on RC and DD
Samples for the 2016 Drilling Program (Correlation of 0.77). Note that the Assay
Values are Close Enough to Regard the Lab Procedures as Sound (Bar One Sample
From IMWDD-044, Which we Believe is Due to the Nugget Effect on Core Samples
and that Core Duplicates were not Adequately Homogenised).
6.9.2 Blanks
SGS Mwanza completed 153 blank assays on RC and DD samples. LVG added approx. 1 blank
after every 20 samples submitted for lab assay. The blank material was a granitic rock which
has been used on previous drill programs and is known to be void of gold mineralisation. This
is sufficient QA/QC blank sample procedures for the lab used. Figure 6-24 shows the values
assayed for blank material.
0
0.2
0.4
0.6
0.8
1
1.2
1.4
1.6
IMW
DD
-039
IMW
DD
-035
IMW
DD
-040
IMW
RC
-178
IMW
DD
-044
IMW
RC
-183
IMW
RC
-185
IMW
DD
-052
IMW
RC
-158
IMW
RC
-152
IMW
RC
-110
IMW
RC
-113
IMW
RC
-118
IMW
RC
-122
IMW
RC
-125
IMW
RC
-127
IMW
RC
-131
IMW
RC
-164
IMW
RC
-168
IMW
RC
-074
IMW
RC
-082
IMW
RC
-094
IMW
RC
-101
IMW
RC
-108
IMW
RC
-177
IMW
DD
-048
IMW
RC
-188
IMW
RC
-192
IMW
RC
-133
IMW
RC
-137
IMW
RC
-143
DUPLICATE g/t
ORIGINAL g/t
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Geology and Resource Estimate Report
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Figure 6-24: Blank Assays (153 Blanks) from SGS Mwanza on RC and DD Samples
for the 2016 Drilling Program. Note that the Assay Values are all Below 0.15 g/t
Bar Three Samples which were Between 0.1 And 0.35 g/t
6.9.3 Reference Material Assays
SGS Mwanza completed 26 reference material assays and ALS one reference material assay.
LVG added one reference material sample to each batch sent to the assay laboratories - the
number of reference material samples submitted are adequate to test the laboratory
procedures. Figure 6-25 shows the assayed values for the reference materials.
0
0.05
0.1
0.15
0.2
0.25
0.3
0.35
IMW
RC
-09
6
IMW
RC
-10
0
IMW
RC
-105
IMW
RC
-10
9
IMW
RC
-15
3
IMW
RC
-14
8
IMW
RC
-11
1
IMW
RC
-11
4
IMW
RC
-11
8
IMW
RC
-12
0
IMW
RC
-12
3
IMW
RC
-12
6
IMW
RC
-12
7
IMW
RC
-13
0
IMW
RC
-13
2
IMW
RC
-16
4
IMW
RC
-16
7
IMW
RC
-17
1
IMW
RC
-17
6
IMW
RC
-17
9
IMW
RC
-18
2
IMW
RC
-18
5
IMW
RC
-18
7
IMW
RC
-19
0
IMW
RC
-19
2
IMW
RC
-19
5
IMW
RC
-13
6
IMW
RC
-139
IMW
RC
-14
4
IMW
DD
-03
7
IMW
DD
-04
2
IMW
DD
-04
7
IMW
DD
-04
8
IMW
DD
-05
2
IMW
RC
-07
6
IMW
RC
-08
3
IMW
RC
-08
7
IMW
RC
-09
3
IMW
DD
-03
6
Imwelo Blanks - 2016 drilling
g/t gold
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Geology and Resource Estimate Report
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Figure 6-25: Reference Material Assays (26 From Mwanza and 1 From ALS)
Inserted for the 2016 Drilling Program, showing a Correlation Of 0.999
6.9.4 Umpire Assays
Umpire assays were completed by ALS Johannesburg on 26 RC and DD samples from Imwelo.
Samples were chosen after the assay values were received from SGS Mwanza. Samples chosen
were from DD as well as RC holes and comprised several assay values ranging from close to
zero to more than 10 g/t Au. Figure 6-26 shows the comparison between laboratories using
selected samples.
0
2
4
6
8
10
12
14
16
SGS SGS SGS SGS SGS SGS SGS SGS SGS SGS SGS SGS SGS SGS
MWANZA ASSAY
REF MATL ASSAY
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Geology and Resource Estimate Report
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Figure 6-26: Umpire Assays Completed by ALS Johannesburg Giving a Correlation
of 0.82
6.10 Data Verification
The competent person has relied upon the data supplied and obtained through sources as
mentioned. Data verification for each subject was discussed in the appropriate sections of this
report. All other verifications made by the competent person and non-verifications are;
• Part of historical collar locations (based upon locating several collars in the field) –
however, additional work is required to increase collar locations confidence levels;
• LVG pit locations and associated sampling and pit logging as well as geological
mapping procedures;
• LVG drill hole collar locations, azimuth and dip direction of drill hole spotting;
• RC and diamond drilling QA/QC;
• RC chip logging and drillcore logging;
• Drillcore cutting;
• Ground geophysical surveys and interpretation;
• Differential GPS surveys of LVG drill hole collars and DTM survey.
The competent person was unable to verify any of the following data:
• Historical drill hole assays, QA/QC and associated laboratory procedures;
• Historical drill hole sub-surface surveys (no survey data available);
• Historical geochemical sample locations (soil and grab samples);
• Historical ground magnetic survey.
The data used in this Technical report is adequate for its purposes within the said report.
0
2
4
6
8
10
12
14
IMW
RC
-160
IMW
RC
-161
IMW
DD
-044
IMW
RC
-132
IMW
RC
-155
IMW
RC
-121
IMW
RC
-165
IMW
RC
-178
IMW
RC
-127
IMW
RC
-113
IMW
RC
-094
IMW
RC
-081
IMW
RC
-115
IMW
RC
-110
IMW
RC
-177
IMW
RC
-099
IMW
RC
-116
IMW
RC
-077
IMW
RC
-126
IMW
RC
-182
IMW
RC
-156
IMW
RC
-152
IMW
DD
-047
IMW
RC
-105
IMW
DD
-037
IMW
RC
-107
SGS g/t Au
ALS g/t Au
Imwelo Project
Geology and Resource Estimate Report
Page 60
7. Resource Estimation
The August 2020 Mineral Resource estimate is based on a detailed review completed by LVG
and MG of current local conditions. It has incorporated LVG’s current view of long-term metal
prices, foreign exchange and cost assumptions, plus mining and metallurgy performance to
select cut-off grades and physical mining parameters. The resulting geological and mining
models show that the quoted Resource has “reasonable prospects for eventual economic
extraction” as required by the JORC Code (2012).
The Mineral Resource estimate has been prepared under the direction of the Competent
Person under the JORC Code using accepted industry practice and has been classified and
reported in accordance with the JORC Code.
The Mineral Resources quoted are extractable via open-pit mining and underground mining
methods. Resources are reported inclusive of Mineral Reserves and represent the Resources
located inside a pit shell developed using a gold price of US$1,500 per oz., and underground
mining methods. A cut-off criterion of 0.5 g/t Au has been applied to Mineral Resources for
reporting purposes in August 2020, based on a gold price assumption of US$1,500 per oz.
7.1 Mineral Resource Estimate
Table 7-1 presents the Imwelo Project (ML 538/2015) Mineral Resource Estimate as of August
2020.
Table 7-1: Imwelo Resource Estimate
NOTES
1 Total estimates are rounded, based on composites capped at 15 g/t gold at the Imwelo Project (ML 538/2015), the cut-off
grade is based on a gold price of US$1,500 and an 88% metallurgical recovery is assumed in the calculation of the cut-off grade.
A base case of 0.50 g/t has been selected.
2 Classification of Mineral Resources incorporates the terms and definitions from the Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves (JORC Code) published by the Joint Ore Reserve Committee (JORC)
Location
Tonnes Ounces Grade Tonnes Ounces Grade Tonnes Ounces Grade Tonnes Ounces Grade
WSZ 129,000 13,100 3.13 671,000 50,100 2.32 667,000 35,200 1.64 1,467,000 98,400 2.19
Area C 285,000 28,900 3.16 450,000 27,100 1.87 735,000 56,000 2.53
Central 224,000 10,100 1.40 253,100 9,600 1.18 477,100 19,700 1.29
Central West 104,000 5,300 1.58 161,200 7,600 1.46 265,200 12,900 1.51
MSZ 531,300 30,200 1.77 769,200 36,100 1.46 1,300,500 66,300 1.60
Area B 296,000 23,000 2.42 296,000 23,000 2.42
Area A 185,000 15,300 2.58 185,000 15,300 2.58
TOTAL 414,000 42,000 3.15 1,530,300 95,700 1.95 2,781,500 153,900 1.56 4,725,800 291,600 1.92
TotalMeasured Indicated Inferred
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7.2 Geological Interpretation and Domains
Geological interpretation of ore type and gold domains is based on drilling information
nominally spaced at 10 m intervals in cross-section and 10 – 20 m intervals in plan.
Five separate areas have been explicitly modelled to form the basis for optimization and
reserve estimation. Area C is located to the far eastern boundary of the Imwelo ML, the
Western Shear Zone (WSZ) is located to the far western boundary of the Imwelo ML, the Main
Shear Zone (MSZ) is located to the east of WSZ in the southern area of the Imwelo ML, the
Central Zone is located across the interpreted intrusion the west of Area C, and the Central
West Zone is disconnected from the Central Zone to the west of this zone. Figure 7-1 shows
the Imwelo Project Area with the zones mentioned above illustrated.
Figure 7-1: Imwelo Project Area
The constraints on the mineralised zones were to use a gold cut-off grade of 0.5 g/t within a
composited zone. If the gold grade did not exceed this limit, the zone was not produced in
section and not modelled.
The Area C mineralised envelopes consist of 11 separate zones striking approximately 100o
and dipping approximately 80o to the NNE. The WSZ mineralised envelopes also consist of 6
separate envelopes striking approximately 100o and dipping approximately 80o to the NNE.
The MSZ mineralised envelopes consist of 9 separate zones striking approximately 100o and
dipping approximately 80o to the NNE. The Central Zone mineralised envelopes consist of 4
separate zones striking approximately 100o and dipping approximately 80o to the NNE. The
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Central West Zone mineralised envelopes consist of 4 separate zones striking approximately
100o and dipping approximately 80o to the NNE. The limits of the mineralisation have not been
completely defined and are open at depth and along strike (currently limited to the east of
Area C and the west of WSZ by the lease boundary).
7.3 Geological Modelling
7.3.1 Modelling Parameters and Method
A 3D block model was created for the Imwelo Project containing all the zones interpreted and
modelled for gold geology and density as summarised in Table 7-2 and Table 7-3.
Table 7-2: Imwelo Block Model Parent Cell Parameters
Variable X (m) Y (m) Z (m)
Origin 375800 9678250 950
Length 3000 2200 500
Maximum Block Size50 50 50
Minimum Block Size50 50 50
Parent
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Table 7-3: Imwelo Block Model Sub-Cell Parameters
Ordinary Kriging (OK) was used for the estimation of gold throughout the block models.
7.3.2 Grade Capping
The risk of overstating Resource tonnes is reduced by putting less weight on the extreme gold
grade results throughout the mineralised zones. The risk of understating Resource tonnes has
been reduced by restricting the mineralised zones to the lower grade cut-off of 0.5 g/t. The
higher grades (up 72 g/t) have been restricted to a grade cap of 15 g/t. As a working guide,
top cuts are chosen to limit the top 1% of samples to approximately 5% of the contained
metal.
7.3.3 Compositing
Drill hole data was composited to 1 m intervals for gold limited to the mineralisation envelopes
(composited from the top of hole) and coded to the relevant domains which are then used for
geostatistical studies, grade estimation and reporting. The composited data was analysed to
Variable X (m) Y (m) Z (m)
Origin 375900 9678750 950
Length 950 350 500
Variable X (m) Y (m) Z (m)
Origin 376400 9679150 950
Length 350 200 500
Variable X (m) Y (m) Z (m)
Origin 376600 9679000 950
Length 700 150 500
Variable X (m) Y (m) Z (m)
Origin 376900 9678650 950
Length 1650 250 500
Variable X (m) Y (m) Z (m)
Origin 377900 9678950 950
Length 650 200 500
Variable X (m) Y (m) Z (m)
Origin 377700 9678350 950
Length 300 200 500
Variable X (m) Y (m) Z (m)
Maximum 10 10 10
Minimum 0.5 0.5 0.5
MSZ
C Zone
A Zone
All Zones Block Sizes
Central West
WSZ
Central
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detect any below-grade composites (below 0.5 g/t) and then located to determine whether
the hole should be coded as a mineralised zone. Remodelling of the domain is completed and
the raw drill hole data is then composited again until the below cut-off grades are eliminated
to reflect the gold mineralization targets. Figure 7-2 shows the sampling frequency of the gold
grades used in the Mineral Resource estimate.
Figure 7-2: Sample Count of Gold Grades used in the Mineral Resource Estimate
7.3.4 Variography
Variography was completed for gold. The best variogram model was aligned to the average
orientation of the mineralised zones which was structured enough to demonstrate
unambiguous directions of continuity. The interpreted plane of maximum continuity for the
Imwelo mineralised domains strikes 100o.
The variogram models were generally interpreted as being isotropic in the plane with shorter
ranges perpendicular to the plane of maximum continuity. The gold variogram striking 100o is
presented in Figure 7-3, and the variogram results are presented in Table 7-4.
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Figure 7-3: Imwelo Gold Variogram
Table 7-4: Imwelo Variogram Results Au
7.4 Density
Densities of 264 core samples, representative of different lithologies were determined. The
densities were determined by dividing the weight of a given sample by the volume of the
sample. Samples of 150 g to 900 g were used. Weights were determined by a scale measure,
while volumes were determined by submerging the sample in water in a graduated cylinder
(measuring cylinder).
MIN
AU
MAX
AU
LAG
SIZENUGGET
SILL
DIFF
SILL
TOTAL
TOTAL
RANGE
MEA
RANGE
IND
RANGE
INF
RANGE
0.5 5 50 0.061 0.437 0.498 128 55 90 125
Variogram Results Au
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Geology and Resource Estimate Report
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Densities determined ranged between 1.8 to 3.5 g/cm³. The average density was found to be
2.42 g/cm³. For resource estimations, the average density (2.42 g/cm³) was used.
Figure 7-4: LVG Density Measurements on 264 Drillcore Samples Using the Water
Immersion Method
7.5 Model Validation.
The Resource model for gold has been validated by:
• Comparison of the slice statistics of each variable with the corresponding block
estimates
• Locally comparing drill holes and estimated blocks in cross-section and plan.
• Creating Swath Plots for statistical comparison (attached in Appendix D)
APPENDIX C illustrates the comparisons and validations in plans and sections.
7.6 Resource Classification
The Mineral Resource has been classified into Measured, Indicated and Inferred after
assessing the following factors: drill hole, style of mineralization and geological continuity,
data quality and associated QA/QC and grade continuity.
Two methods were used to determine the optimal drill spacing for Resource classification at
Imwelo:
• Variogram method which analyses proportions of the sill, and
• An estimation variance method.
The data spacing and distribution is sufficient to establish geological and grade continuity
appropriate for Mineral Resource estimation and classification.
0.000
0.500
1.000
1.500
2.000
2.500
3.000
3.500
4.000
65
.50
73
.50
77
.30
73
.20
75
.40
80
.20
85
.80
93
.80
84
.20
90
.60
10
1.1
0
10
7.5
0
11
9.0
0
74
.20
91
.10
80
.00
88
.30
10
6.9
0
69
.10
84
.30
98
.80
10
8.0
0
11
5.0
0
75
.30
75
.40
91
.80
64
.10
60
.00
72
.00
10
6.1
0
11
5.5
0
82
.60
88
.15
99
.60
Density values from 2016 drillcore at certain depths
Density
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7.7 Factors Affecting Resource Estimate
The Mineral Resource estimates are based on long-term capital and operating cost
assumptions based on the investigations for changing activity levels and reasonable cost base
reductions over the life of the mine. Any material change in long term cost base or metal price
assumptions may impact the Mineral Resource estimate.
7.8 Comparison to Previous Resource Estimates
Resources for Imwelo were previously reported in February 2015 by Chris Grove of Measured
Group Pty Ltd. The estimations in 2015 were done using the same methods and procedures
that were used to estimate the resources within this report.
There has been a significant upgrade to resources since the previous report with an additional
86,400 ounces being reported. This represents an upgrade of 42% to the total resource.
The upgrade to the resource can be attributed to the following;
• Inclusion of additional drilling within the previous resource areas
• Inclusion of new zones within the Imwelo lease area
• Extensions at depth by removing the maximum depth cut-off to include underground
mining methods
The Resource Estimate in this report compared to the estimate produced in 2015 is shown in
Table 7-5.
Table 7-5: Comparison with Previous in Situ Resource Estimates
7.9 Grade Ounce Graph
A grade ounce curve was created from the Resource model for comparison and analysis.
Figure 7-5 shows the Imwelo Grade/Ounce Graph.
Measured Indicated Inferred Total Measured Indicated Inferred Total
Grade 2.78 2.32 2.15 2.29 3.15 1.95 1.56 1.92
Tonnes 397,500 739,100 1,652,000 2,788,600 414,000 1,530,300 2,781,500 4,725,800
Ounces 35,600 55,200 114,400 205,200 42,000 95,700 153,900 291,600
2015 2017
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Figure 7-5: Imwelo Grade/Ounce Graph
0
2
4
6
8
10
12
14
16
18
-
50,000.00
100,000.00
150,000.00
200,000.00
250,000.00
300,000.00
350,000.00
0 2 4 6 8 10 12
Gra
des
Ou
nce
s
Cutoff
Grade/OunceClassification
Ounces Gold Grades
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8. Metallurgy and Processing
LVG completed three bulk sample investigations as follows:
1. Two tests with Peacocke and Simpson Mineral Processing Engineers (PSM) based in
Harare, Zimbabwe (one in 2013 and another in 2014);
2. Maelgwyn Mineral Services Africa based in Johannesburg, South Africa.
8.1 Peacocke And Simpson Mineral Processing Engineers (PSM)
8.1.1 Chinese Mine Bulk Sample (2013)
LVG contracted Peacocke and Simpson Mineral Processing Engineers (PSM) based in Harare,
Zimbabwe, to complete gravity concentration and cyanide leaching test work on a bulk
composite sample from the Imwelo area in 2013. This bulk sample was composited to 50 kg
from samples available on the surface near the Chinese Mine (ML 419/2011). The samples
were from either the shaft, trenches on the ML or both.
Results obtained from PSM provide overall gold recovery via Knelson Centrifugal Concentration
and cyanide leaching of Knelson tailings as follows:
• The average grade of 50 kg composite sample 5.47 g/t
• Knelson concentration (% of test head) = 47.3%
• Cyanide leaching of Knelson tailings (78.2% of 52.7%) = 41.2%
• Overall gold recovery = 88.5%
The metallurgical testing completed on the Chinese mine bulk sample, although not completely
indicative of the near-surface (oxidised) lithologies to be targeted by LVGs planned production
can be regarded as a good overall gold recovery. Unfortunately, the exact depth of the
metallurgical bulk sample is unknown and the metallurgical tests are not usable for near-
surface (weathered zone) mine planning. As such, additional metallurgical testing on the near-
surface mineralisation was recommended and completed on a near-surface mineralised quartz
vein (also by PSM) and the 2016 drillcore (Completed by Maelgwyn Mineral Services). Figure
8-1 shows the microscopic images at ore crushed to -1mm, with the Knelson test at pan
concentrate 1.
8.1.2 Near Surface Vein Sample (2014)
The near-surface vein samples were submitted for metallurgical test work to determine free
gold content and amenability of the material to cyanide leaching. The program involved impact
crushing to 100% passing 1 mm and the crushed product was processed via a Knelson KC-
MD3 Laboratory Concentrator. A portion of the gravity tails from the coarse crush test (-1
mm) was vat cyanide leached; the balance was ground to 80% passing 75 microns and
subjected to gravity concentration. The final gravity tailing product was cyanide leached for
24 hours.
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Grading analysis of the -1 mm crushed product indicated a bias of gold grade in the -150
microns fraction which accounted for 21.1% by mass and represented 37.1% of the total
gold. Impact crushing of the sample to 100% passing 1 mm before Knelson concentration (to
simulate early liberation processing methods) realised gold recovery of 24.1% of ore head. Of
the gravity recovery, 21.2% of test head was as final “free gold” concentrate in 0.21% mass
yield, and the remaining 2.9% was associated with heavy mineral.
Total gravity gold recovery via impact crushing and fine milling was 35.2% of the ore head.
Cyanide agitation of the final gravity tails sample realised gold recovery of 85.5% of leach
feed in 24 hours of leaching. Overall gold recovery via impact crushing/Knelson concentration,
grind/Knelson and cyanide leaching of final gravity tails was thus 90.6% of the test head.
Figure 8-1: Microscopic Results at Knelson Test Pan Concentrate 1
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8.2 Maelgwyn Mineral Services Africa Based in Johannesburg, South
Africa
LVG contracted Maelgwyn Mineral Services based in Johannesburg South Africa to complete
the below-mentioned test work on an ~100 kg (44 kg from drillcore and ~60 kg ROM material)
sample from the LVG 2016 drilling campaign:
• Head grade assays – Au, ICP Scan, XRD and Sulphur Package
• Screening and grading
• Crushability Work Index (CWi)
• Bond Ball Work Index (BBWi)
• GRG test work
• Leaching test work
• Test on ROM
• Test on gravity tails
• Kinetics on ROM
• Kinetics on gravity tails
• Intensive cyanidation on gravity concentrate (using Gekko ILR conditions)
• Carbon loading isotherm Slurry behaviour tests (Vietti Slurrytec)
• Slurry behaviour tests
Table 8-1: Sample from LVG 2016 Drill Program Used to Make Up The 44kg Sample
Sent to Maelgwyn For Metallurgical Testing
HOLE FROM TO GRADE WEIGHT GEOLOGY
IMWDD-035 65,00 66,00 0,65 4kg Sheared MV
IMWDD-035 68,40 68,65 4 1kg Sheared MV
IMWDD-035 68,65 69,50 0,78 2.5kg Sheared MV
IMWDD-036 71,1 72,1 0,98 0.4kg Saprolite
IMWDD-036 72,1 72,19 2,32 0.2kg Quartz vein
IMWDD-036 72,19 73,1 0,82 0.5kg Saprolite
IMWDD-037 58,75 59,75 1,05 0.5kg Saprolite
IMWDD-037 59,75 59,9 15,9 0.1kg Saprolite
IMWDD-042 87,5 88 0,66 0.5kg Fresh mv
IMWDD-043 59,6 60 0,64 0.1kg Saprolite
IMWDD-043 60,2 60,7 1,18 0.5kg Quartz vein
IMWDD-044 57,9 58,15 2,04 0.1kg Saprolite
IMWDD-044 58,15 59 0,64 1kg Saprolite
IMWDD-044 60,1 61 1,5 1kg Saprolite
IMWDD-044 61 62 0,9 1kg Saprolite
IMWDD-047 45,9 46,3 1,93 0.5kg Sheared MV
IMWDD-047 84 84,5 4,57 1kg Quartz vein
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HOLE FROM TO GRADE WEIGHT GEOLOGY
IMWDD-047 84,5 85 0,94 1kg Quartz vein
IMWDD-047 85 85,5 1,78 1kg Quartz vein
IMWDD-047 85,5 86 0,6 1kg Quartz vein
IMWDD-047 86,5 87 0,74 1kg Quartz vein
IMWDD-047 94,6 94,9 0,79 1kg Fresh MV
IMWDD-048 39,2 39,7 0,7 0.5kg Sheared mv
IMWDD-048 39,7 40,2 0,7 1kg Sheared mv
IMWDD-048 64,85 65,25 1,96 1.5kg Quartz vein
IMWDD-050 18,6 19 0,69 0.5kg Iron rich sediments
IMWDD-050 19 19,5 3,15 0.5ks Iron rich sediments
IMWDD-050 47,2 47,9 2,59 1kg Sheared MV
IMWDD-052 76,1 76,5 0,81 1kg Sheared MV
IMWDD-032 32 32,15 2,73 1.5kg Quartz vein
IMWDD-031 57,4 57,75 6,7 1kg Quartz vein
IMWDD-030 62 62,5 1,01 2.5kg Metavolcanics
IMWDD-030 62,5 62,7 43,7 2kg Quartz vein in Metavolcanics
IMWDD-030 62,7 63,2 1,6 4kg Metavolcanics
IMWDD-029 63,5 63,7 1,8 0.5kg Quartz vein
IMWDD-029 71 72 9,2 1kg Fractured quartz vein
IMWDD-028 56,85 57,05 1 2kg broken metavolcanics
IMWDD-028 57,05 57,55 1,18 0.5kg Quartz vein
IMWDD-028 67,5 67,6 35 0.1kg Quartz vein
IMWDD-028 67,6 68 2,3 3kg Weathered Metavolcanics
Detailed results are available from the Maelgwyn final report, but results obtained are
conclusive that:
• The chemical analysis showed that there were no environmentally concerning
elements such as Hg, Cr or as detected in the sample.
• The results indicated that this sample is amenable to gravity recovery and that the
liberation of the gold depended on the grind size and the mass pull of the ore.
• Milling the ROM (core) sample to 80% passing 75 µm a gold dissolution of 88% was
achieved after 24 hours if leached in the presence of carbon, (CIL test). The base case
test leached in the absence of carbon only achieved 73% gold dissolution after 24
hours and an average preg-robbing of about 14% was observed.
• As with the ROM sample an 88% gold recovery was achieved, however for the gravity
tails the “feed grade” was lower to start with this a lower final residue was achieved
for the gravity test compared to the direct leaching bringing the overall Gravity – Leach
recovery to 91% gold recovery
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9. Adjacent or Nearby Properties
ML 538/2015 is located adjacent (and nearby) to PLs belonging to the following companies:
• Anglo Gold Ashanti (Geita Gold Mine); and
• Kibo Mining plc (London and JSE listed).
Figure 9-1: Location of Kibo Mining Plc’s Tenements (Which Includes the Kibo
Imweru Project) and the Anglo Gold Ashanti Geita Gold Mine Lease
(www.kibomining.com)
9.1 Anglo Gold Ashanti – Geita Gold Mine
The Geita gold deposit is an Archaean mesothermal orebody, largely hosted in a banded
ironstone formation (BIF). The majority of gold occurrences within the Geita Greenstone Belt
are related to the presence of banded iron formation (BIF) and chert hosted by
tuffaceous/volcanoclastic sediments where this sequence is intruded by dioritic to monzonitic
dykes. At Nyankanga, one of the largest of the Geita Gold Mine deposits, the gold
mineralisation appears to be related to the contact zones between diorite bodies and
sediment. These contact zones are set within zones of shearing and parasitic folding in NW
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dipping thrust fault zones that flatten out down dip. The BIF is considered a favourable site
for gold mineralisation as it is chemically volatile during shearing.
Table 9-1: Geita Gold Mine Resources and Reserves (31 Dec. 2011) (AngloGold
Ashanti, 2012).
Tonnage
(MT)
Grade (g/t)
Content (Moz)
Proven and Probable Reserves 55.81 2.64 4.73
Measured and indicated Resources 106.44 2.74 9.38
Inferred Resources 33.53 2.97 3.20
The geological setting of the Geita Gold Mine, although within the same Geita Greenstone Belt
that also hosts the LVG Imwelo Project, is different from that of the latter Project. The Geita
gold Mine is an Archaean mesothermal orebody, located in the Sukumaland Greenstones of
the Geita Greenstone Belt. It is largely hosted in a banded ironstone formation (BIF).
Mineralisation is found where auriferous fluids, which are interpreted to have moved along
shears often on BIF-diorite contacts, reacted with the BIF.
Some lower-grade mineralisation can occur in the diorite as well (usually in association with
BIF-hosted mineralisation). Approximately 20% of the gold is hosted in the diorite. This
mineralisation setting appears to be absent on the LVG Imwelo Project. However, the
movement of gold-rich fluids along shears and precipitation at lithological contacts is also
present on the LVG Imwelo Project. During recent fieldwork on the latter project, LVG has
been able to locate Ironstone (not BIF) fragments from pits, however, no BIF/Ironstone was
encountered during the LVG drilling.
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Figure 9-2: (A) Ironstone Fragment and (B) BIF Like Fragment from Area C both
from the LVG Imwelo Project. Assays Revealed no Significant Gold Values.
9.2 Katoro Gold Plc
Katoro Gold Plc (Katoro) has access to one of the largest mineral right portfolios in Tanzania
spanning gold and nickel. Their Lake Victoria Project comprises ~60 mineral licences and
applications covering an area of ~500 km2 that are scattered throughout Tanzania’s premier
gold mining region, the Lake Victoria Goldfields. The tenement portfolio includes resource-
based projects, Imweru and Lubando.
(a) (b)
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Figure 9-3: Katoro Gold Plc Licences, Applications and Offers (Barr And Hitchcock,
2014).
In 2017 Kibo Mining Plc (Kibo) decided to demerge (Kibo Gold) their Gold and Nickel assets
from Kibo Mining Plc into Katoro. Kibo engaged AIM-listed company, Opera Investments Plc,
to ‘take over’ these assets. Opera Investments PLC then changed its name to Katoro Gold Plc.
As part of the relisting process, an updated JORC compliant Resource Estimate was complete
for Opera Investments Plc by Minxcon Consultants of South Africa.
In June 2020 Katoro signed an agreement with Lake Victoria Gold Ltd to sell one of its
Tanzanian subsidiary companies, Reef Miners Ltd, to Lake Victoria Gold Ltd. Reef Miners Ltd
owns the Imweru Project.
The current total resource at Imweru is estimated at 515,000 oz. (11,607,000 tonnes at 1.38
g/t, 0.4 g/t cut-off for near-surface resources and 1.3 g/t for deeper resources). Resources
for the Katoro Imweru Property are divided into the Central and East deposit areas. The
Central and East deposits are now subject to two separate Mining Licence Applications. The
Imweru East ML application adjoins the Lake Victoria Gold Ltd Imwelo ML538 project on the
East, West and South.
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Table 9-2: Imweru Gold Project Mineral Resources as at 10 March 2017
Area Material
Mineral Resource Category (Total)
Tonnes (Mt)
Density (t/m3)
Au (g/t)
Au (kg)
Au (koz)
Total 11.607 2.72 1.38 16,021 515.11
Central Laterite Indicated - - - - -
Saprolite Indicated 0.654 2.5 1.62 1,060 34.09
Sulphide Indicated 1.713 2.89 1.03 1,764 56.71
East Sulphide Indicated - - - - -
Total Indicated
2.367 2.7 1.19 2,824 90.8
Central Laterite Inferred 0.413 2.5 2.9 1,199 38.54
Sulphide Inferred 0.56 2.5 1.68 942 30.27
Sulphide Inferred 7.615 2.89 1.18 8,952 287.83
East Sulphide Inferred 0.652 2.7 3.23 2,105 67.66
Total Inferred
9.24 2.72 1.43 13,197 424.31
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Figure 9-4: Kibo Mining Plc Imweru Central and Imweru East Block Model for
Kibo’s Resource Estimation Purposes (Barr And Hitchcock, 2014)
The Imweru Central deposits are modelled as numerous, semi-continuous quartz and calcite
filled brittle-ductile shear structures that have variable strike direction with an overall average
strike of approximately 080o. The main shear structure Area C3 at Imweru Central has an
overall mineralised true thickness ranging from approximately 2 m to 30 m. The shear zones
have sub-vertical dip extent fluctuating from a minimum of approximately 75o to the south to
75o to the north. Distinct grade shoots or plunge trends were not confirmed in the current
model, however, based on stereonet analysis of mineralised veining, it is postulated they may
exist at moderate plunge to the southwest. Local variations in both the strike and dip in the
vein orientations may be associated with local pinch and swelling in the mineralised thickness.
Diorite has been modelled as the predominant host to the shear structures, and where it is
unmineralised, it is considered as waste material.
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Figure 9-5: Katoro Gold Plc Imweru Central drill hole locations from the Kibo 2013
program. (Imweru East Is Based Upon Historical Drilling Results)
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10. Forward Work Programme
The below recommendations immediate aims are to increase confidence levels on the current
Indicated classification areas through Infill drilling (RC and DD).
Priority 1 is to define, to at least Indicated, the underground resource below the first Area C
Open cut pit and needs to be done before commencing production.
Priority 2 is a North-South fence line of shallow holes to the west of the Area C Open cut. The
current boundary to the west is a dyke associated with a fault. Evidence suggests the ’Area C’
mineralisation continues on the other side of the dyke/fault. The aim is to target in the coming
program.
Priority 3 is drilling the ‘Area C’ mineralised zone to the East of the current ML boundary into
the “Reef” Mines licence area. Old drill holes and artisanal workings indicate this could extend
up to 400m which would double the strike length of the current Area C Open Cut.
Table 10-1 shows the Exploration Budget (note that the below budget is a recommendation
and excludes office rental in Tanzania as well as all Australian costs such as director salaries,
flights etc).
Table 10-1: Exploration Program Budget
Priority Location Average depth No. Holes Objective Total Drilling Cost Cumulative Cost
1 Area C 250 16 Drill Underground resouce 4000 650,000$ 650,000$
2 Area C 50 8 Western extention 400 65,000$ 715,000$
3 Area C 90 12 Eastern Extention (Imweru) 1080 175,500$ 890,500$
4 Western Shear Zone 80 40 Increase to M&I 3200 520,000$ 1,410,500$
5 Central Area 100 20 Increase to M&I 2000 325,000$ 1,735,500$
6 Area B 100 20 Increase to M&I 2000 325,000$ 2,060,500$
7 Southern Shear Zone 100 20 Scout Drilling 2000 325,000$ 2,385,500$
8 Northern Shear Zone 100 20 Scout Drilling 2000 325,000$ 2,710,500$
156 16680 2,710,500$
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11. References
Barr J.F. and Hitchcock D. 2014. Resource update for the Imweru Property, Geita Region,
Northern Tanzania, JORC competent persons report. Completed by Tetra Tech EBA for Kibo
Mining plc.
Byemelwa L., Ngirwa W. and Rwekiti G. 2003(a). Barrick Exploration Africa Ltd. Imweru
Project PL1090/98. Mapping and soil sampling program. Report of activities.
Byemelwa L., Kiyombe M., Hassan A., Mkinga B. and Obedi N(b). 2003. Barrick Exploration
Africa Ltd. Imweru Project PLs 2317/03 and 1623/00. RAB drilling report.
Byemelwa L., Kiyombe M., Hassan A. and Mkinga B. 2003(c). Barrick Exploration Africa Ltd.
Imweru Project PLs 2317/03 and 1623/00. RC drilling report.
Byemelwa L., Kiyombe M., Kisae A. and Jumanne A. 2004. Barrick Exploration Africa Ltd.
Imweru Project PLs 2317/03 and 1623/00. DD drilling report
Fier N.E. 2009. NI43-101 Technical Report on the Imweru Property, Mwanza, Tanzania.
Prepared for Great Basin Gold Rusaf Gold Ltd.
Goldfarb R.J., Groves D.I. and Gardoll S. 2001. Orogenic gold and geologic time: a global
synthesis. Ore Geology Reviews 18, 1 – 75.
Kesler. 1994. Mineral Resources, Economics and the Environment: Macmillan, New York, 394
pp.
Kinabo and Mushi (2013) Lake Victoria Gold Environmental Impact Assessment.
Loyd B. 2012. Peak Resources Ltd. Surrender Report for General Exploration Ltd.
Mincor Resources NL. 2000. Annual Report for the period 1999 to 2000.
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Manya S. 2004. Geochemistry and petrogenesis of volcanic rocks of the Neoarchaean
Sukumaland Greenstone Belt, northwestern Tanzania. J. Afr. Earth Sci. 40, 269 – 279.
Money R. 2009. Mapping and sampling of the Imweru Gold Project. Lake Victoria Goldfields.
Tanzania.
Robert, F., Brommecker, R., Bourne, B. T. and Dobak, P. 2007. Models and Exploration
Methods for Major Gold Deposit Types. In "Proceedings of Exploration 07: Fifth Decennial
International Conference on Mineral Exploration" edited by B. Milkereit, 2007, p. 691-711.
Taylor M.J. 2009. Report on the Ushirombo mineral exploration property of Tanzanian Royalty
Exploration Corporation in the Bukombe district, Shinyanga region of the United Republic of
Tanzania, East Africa. NI 43-101 Report.
Tanzania Mining Act of 2010. http://teiti.or.tz/news_images/news4f632bc701dfb.pdf
Internet references
• www.anglogold.com
• African Barrick Gold. 2012. Analyst site visit presentation.
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APPENDIX A: JORC TABLE 1
Section 1 - Sampling Techniques and Data
Criteria Explanation Detail 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.
• Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.
• 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.
Reverse circulation (RC) and diamond core are the primary sources of sample data and LVG was responsible for obtaining 85 % of the samples used for resource estimation. The remaining samples were sourced from drilling completed by previous explorer Barrick Exploration Africa Ltd (BEAL). The drilling database used to support the estimate contains 210 drill holes (35 diamond core and 175 RC holes) for a total of 12249 m, including 3534 m of core.
All available data was used for geological interpretation, while only diamond core and RC drilling was used for grade estimation.
RC samples were predominantly collected over 1 m intervals, samples were weighed and split using a 3-tier riffle splitter with one split collected for laboratory testing, one for on-site representative sample and the remaining amount as coarse reject to be stored. The riffle splitter, cyclone and feed pipe were all cleaned with compressed air, and the pipe and cyclone were flushed with fresh water following each run. Diamond core was halved using a diamond saw, one-half was sent to the laboratory for gold assay, and the remainder was stored on site.
Measures taken to ensure the sample representivity included routine monitoring of sample recovery and RC field duplicates. Assay quality control measures Included duplicates, blanks and certified reference standards. Also, the laboratories undertook their own duplicate samples as part of their own Internal QA processes. The available QA\QC data demonstrate that LVG’s sampling and assaying are of appropriate quality for use in the current estimates.
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.).
RC drilling used face sampling bits.
Diamond core holes were drilled using standard HQ core (~63 mm diameter). Predominantly, holes were drilled towards 180o azimuth and -60o dip. Diamond core holes were surveyed using a single-shot camera. Core was logged, photographed in detail and sampled for assaying and the remaining core stored on site.
Drill sample recovery
• Method of recording and assessing core and chip sample recoveries and results assessed.
• Measures taken to maximise sample recovery and ensure representative nature of the samples.
• 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.
RC drill hole recoveries were monitored by weighing samples and visually checking sample recoveries and wetness in the field. Diamond core recovery was estimated from recovered core lengths and show an average recovery of 96 % for the diamond core holes drilled by LVG and used in the resource estimate.
The available sample recovery data generally shows reasonable recoveries, no relationship between recovery and assay grade and no indication of material bias due to sample loss.
Logging • Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate
All holes have comprehensive detailed lithological logs, including lithology, texture, grainsize, colour, alteration, wetness. Also, cored sections have been geotechnically logged and sampled. Logging of holes drilled by previous
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Mineral Resource estimation, mining studies and metallurgical studies.
• Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography.
• The total length and percentage of the relevant intersections logged.
explorers prior to LVG was undertaken in a comparable manner. LVG routinely photograph core and chip samples.
All the resource drilling has been qualitatively logged with appropriate detail by LVG and previous companies, to support the current resource estimate, metallurgical and mining studies.
Sub-sampling techniques and sample preparation
• If core, whether cut or sawn and whether quarter, half or all core taken.
• If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.
• For all sample types, the nature, quality and appropriateness of the sample preparation technique.
• Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.
• 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.
• Whether sample sizes are appropriate to the grain size of the material being sampled.
Cores were split into two halves using a diamond saw, with half sent for assay and the remainder stored on site.
Chip samples were collected on one (1) metre drill run intervals from the rig mounted cyclone into plastic sample bags, sample bags were labelled with a dedicated sample number and weighed/split using a 3-tier riffle splitter with one split collected for laboratory testing, one for on-site representative sample and the remaining amount as coarse reject to be stored on site. Representative chips were sieved and washed before being placed in a chip tray that was pre-labelled with the hole and depth interval. The riffle splitter, cyclone and feed pipe were all cleaned with compressed air, and the pipe and cyclone were flushed with fresh water following each run.
All samples were sent to SGS Mwanza for preparation and analysis. Samples were crushed and pulverised (dried at 110 °C if required)
Sample crushed to 2 mm
Sample pulverised to 75 um
75 um mesh size used for pulverised material of which more than 85% of pulverised passed through the mesh size.
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.
• 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.
• 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.
SGS Mwanza was used for all assay testing. SGS Mwanza conducts its own checks with blank samples, standard samples and duplicate samples assuring the quality assurance of the laboratories internal work. Validation of assay results was established by LVG using duplicates, standards and blanks, while SGS Mwanza maintains a system to ensure repeatability and precision and has provided LVG reports documenting results. The ALS laboratory at Johannesburg has been used for 26 sample check testing from various LVG drilling campaigns and a variety of grades, locations and depths. All results are checked by graphs, and the results are within the limits of acceptance.
Verification of sampling and assaying
• The verification of significant intersections by either independent or alternative company personnel.
• The use of twinned holes.
• Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.
• Discuss any adjustment to assay data
Verification of significant intersections were reviewed and checked by LVG and the Competent Person. Geological logging data and sampling information is recorded on standard logging sheets Data is entered electronically into MS Access database and validated for all fields. When assay results are received, they are checked and validated before entered into the MS Access database. No adjustments to assay data have occurred.
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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.
• Specification of the grid system used.
• Quality and adequacy of topographic control.
Drill hole collars were surveyed using coordinate system ARC1960 UTM zone 36S. All recent drill hole collars were surveyed by Geo Technology, using DGPS. Also, the same company has completed check surveys of holes drilled by previous companies (pre-LVG ownership) where possible, and no material issues were identified.
Diamond core holes were surveyed using a single-shot camera and core orientations.
Topographic control at the project is based on an aerial topographic survey together with known land survey control (DGPS survey point data). This provides sufficient accuracy for the current estimates.
Data spacing and distribution
• Data spacing for reporting of Exploration Results.
• 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.
• Whether sample compositing has been applied.
Due to mineralisation within E-W striking shear zones, all LVG drill holes were drilled along strike at spacing varying between 20 m and 100 m. Also, step forward and backward holes were drilled at 7.5 m to 10 m spacing when noteworthy mineralisation was intercepted. All holes were drilled towards 180o azimuth and -60o dip to intercept the sub vertical dipping quartz veins.
The drill hole spacing is deemed sufficient to establish geological and grade continuity for the current Mineral Resource and Reserve estimates.
No compositing of sample intervals was undertaken in the field. Drill hole data was composited to 1m intervals within the mineralisation envelopes for resource modelling.
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.
• 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.
Predominantly, drill holes have been oriented towards 180o azimuth and -60o dip to intersect the mineralised zones interpreted to strike approximately 100o and dip approximately 80o to the NNE.
Available information indicates that the drilling orientation provides unbiased sampling of the mineralisation zones.
Sample security
• The measures taken to ensure sample security. LVG’s samples were fed from the cyclone into a plastic bag; sample bags were labelled with a dedicated sample number, weighed and split using a 3-tier riffle splitter. One split was collected for laboratory testing, one for on-site representative sample and the remaining amount as coarse reject to be stored on site.
Samples were transported by LVG to the laboratory where receipt/delivery was reconciled.
Validity of assay results was established by LVG through the use of duplicates, standards and blanks.
Audits or reviews
• The results of any audits or reviews of sampling techniques and data.
All QAQC is reviewed on an ongoing basis.
No external audit of sampling techniques has been undertaken.
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Section 2 - Reporting of Exploration Results
Criteria Explanation Detail 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 security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.
The Imwelo project is 100% owned by LVG and is located 160km WSW of the town of Mwanza and 30km due west of the town of Geita in northern Tanzania.
On 30 January 2015, a mining licence was granted to LVG for the Imwelo Project. PL 6294, which was previously held by LVG for the Imweru Project has now been converted to ML 538/2015. The Competent Person has sighted a copy of the granted mining licence.
Exploration done by other parties
• Acknowledgment and appraisal of exploration by other parties. Previous exploration in the Imwelo Project area has been conducted by various companies since 1999, including Pangea Minerals Ltd, Mincor Tanzania Ltd, Barrick Exploration Africa Ltd (BEAL), Great Basin Gold and Peak Resources.
742 holes are known to be drilled in the project area, for a total of 40918 m of drilling, including 4462 m of core. Also, ground and airborne magnetic surveys, an IP survey and several surface geochemical programs have also been undertaken in the area now covered by the project area.
Geology • Deposit type, geological setting and style of mineralisation. The Imwelo Project is set within the Geita greenstone belt of the Lake Victoria Goldfields of northern Tanzania. It comprises E–W-trending greenstone belts, and variably distributed late-kinematic felsic granites, bounded by WNW–ESE trending migmatitic-granitoid gneiss domains to the north and south. It is underlain by extensive greenstone rocks of diverse lithologic types, rheology and chemical reactivity, and a high density of linear, E–W- and NW–SE-trending felsic granitoids. The bounding gneisses and granitoids are cut by strong, NW–SE-trending, sinistral-strike slip shear zones bounding ENE–WSW-trending curvilinear thrust faults and associated shear-foliated quartz veins, and N–S-trending extensional quartz veins, consistent with the deformation history. A large portion of the Project area is under a thick lateritic and saprolitic weathered horizon up to 50 m metres in vertical depth. The felsic and mafic volcanic units of the Lower Nyanzian stratigraphy constitute the lithologies of the license area. Quartz veins cross cut the lithologies and generally contain gold within shear zones that have developed on lithological contacts. Mineralisation is pronounced when veins are associated with sulphide minerals Gold at Imwelo occurs in three main forms:
1. Auriferous quartz veins. 2. Alluvial gold. 3. Fine disseminated gold within laterite.
Recent drilling campaign confirms the presence of gold within quartz veins, but further notes that not all veins are auriferous and the presence of shearing is regarded as a prerequisite. Gold is also not associated with vein
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only and the country rock (i.e. hanging and footwall) also hosts mineralisation (also to a lesser grade) at least 0.5 m into the country rock from the quartz vein.
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:
• easting and northing of the drill hole collar
• elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar
• dip and azimuth of the hole
• down hole length and interception depth
• hole length.
• 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
A summary of drill hole information used in the resource estimate is appended to the resource report (Geology and Resource Estimate Report, Imwelo Project, Lake Victoria Gold 2017, Appendix E). Detailed drill hole intercepts have not been included as they are deemed commercially sensitive.
Data aggregation methods
• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated.
• 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.
• The assumptions used for any reporting of metal equivalent values should be clearly stated
Higher grades (up to 72 g/t) have been restricted to a grade cap of 15 g/t, while a lower grade cut-off of 0.5 g/t has been applied. In summary, the top cut was chosen to limit the top 1% of samples to approximately 5% of the contained metal.
Drill hole data was composited to 1m intervals for gold limited to the mineralisation envelopes (composited from the top of hole) and coded to the relevant domains which were used for geostatistical studies, grade estimation and reporting. The composited data was analysed to detect any below grade composites (below 0.5 g/t) and then located to determine whether the hole should be coded as a mineralised zone – this was repeated until the below cut-off grades are eliminated to reflect the gold mineralisation.
Relationship between mineralisation widths and intercept length
• These relationships are particularly important in the reporting of Exploration Results.
• If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. • If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’).
The drilling used to support the estimate is predominantly drilled towards 180o azimuth and -60o dip to intersect mineralised zones interpreted to strike approximately 100o and dip approximately 80o to the NNE.
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.
Maps and sections are included in the resource report (Geology and Resource Estimate Report, Imwelo Project, Lake Victoria Gold 2017).
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.
The Imwelo Project resource estimate was produced by Measured Group Pty Ltd (MG) based on information provided by LVG. The resource report contains summary information for all historical and current drilling campaigns within and adjacent to the project area and provides a representative range of grades intersected in the relevant drill holes.
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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.
In addition to drilling completed within the Imwelo Project area, several regional geophysical surveys have been completed over the area now covered by the project area by previous holders and holders of adjacent tenements. These include ground and airborne magnetic surveys and an IP survey. Several surface geochemical programs have also been undertaken in the area now covered by the project area. The Competent Person has used the information and interpretations from the various surveys to inform the current estimate. It should be noted that LVG does not have access to data from all the surveys and where this is the case, the interpretations have been used by the Competent Person with the appropriate level of confidence.
Further work • The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling).
• Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.
The limits of the mineralisation have not been completely defined and are open at depth and along strike (currently limited to the east of Area C and the west of WSZ by the lease boundary) and there may be potential to identify additional resources with follow-up drilling. Complete infill drilling on the areas which are currently classified as Inferred Resources to increase the confidence levels of these areas.
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Section 3 - Estimation and Reporting of Mineral Resources
Criteria Explanation Detail 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.
Data validation procedures used.
LVG maintain a database (MS Access) that contains all drill hole survey, drilling details, lithological data and assay results. Where possible, all original geological logs, hole collar survey files, digital laboratory data and reports and other similar source data are maintained by LVG. The MS Access database is the primary source for all such information and was used by the Competent Person to estimate resources.
The Competent Person undertook consistency checks between the database and original data sources as well as routine internal checks of database validity including spot checks and the use of validation tools in Maptek's Vulcan V9 modelling software. No material inconsistencies were identified.
Site visits Comment on any site visits undertaken by the Competent Person and the outcome of those visits.
If no site visits have been undertaken indicate why this is the case.
The Competent Person has visited the Imwelo Project site twice; in December 2014 and November 2016. The purpose of the site visit was to: QA/QC of drilling and sampling practices, geological logging and interpretation by on-site geologists, gain knowledge of and verify the site and local geology, verify the security and storage of samples and drill core verify the methods used to collate and dispatch verification samples.
Information and knowledge acquired, and the techniques and procedures observed during the site visit provide confidence in the geological information and drill hole database supplied by LVG.
Geological interpretation
Confidence in (or conversely, the uncertainty of) the geological interpretation of the mineral deposit.
Nature of the data used and of any assumptions made. The effect, if any, of alternative interpretations on Mineral Resource
estimation. The use of geology in guiding and controlling Mineral Resource
estimation. The factors affecting continuity both of grade and geology.
Geological setting and mineralisation controls of the Imwelo Project mineralisation have been confidently established from drill hole logging and geological mapping, including the development of a robust three-dimensional model of the major rock units.
The Area C mineralised envelopes consist of 11 separate zones striking approximately 100 degrees and dipping approximately 80 degrees to the NNE. The WSZ mineralised envelopes also consist of 6 separate envelopes striking approximately 100o and dipping approximately 80o to the NNE. The MSZ mineralised envelopes consist of 9 separate zones striking approximately 100 degrees and dipping approximately 80 degrees to the NNE. The Central Zone mineralised envelopes consist of 4 separate zones striking approximately 100 degrees and dipping approximately 80 degrees to the NNE. The Central West Zone mineralised envelopes consist of 4 separate zones striking approximately 100 degrees and dipping approximately 80 degrees to the NNE. The limits of the mineralisation have not been completely defined and are open at depth and along strike (currently limited to the east of Area C and the west of WSZ by the lease boundary). Lithological wire-frames interpreted from drill hole logging were used to assign densities to the estimates.
Due to the confidence in the understanding of mineralisation controls and the robustness of the geological model, investigation of alternative interpretations is unnecessary.
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.
The main mineralised zones include Area C, WSZ, MSZ, Central and Central West which consist of multiple separate zones striking approximately 100 degrees and dipping approximately 80 degrees to the NNE. In addition, there are a number of smaller zones including Area’s A and B.
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The limits of the mineralisation have not been completely defined and are open at depth and along strike (currently limited to the east of Area C and the west of WSZ by the lease boundary).
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.
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 assumptions made regarding recovery of by-products. Estimation of deleterious elements or other non-grade variables of
economic significance (eg sulphur for acid mine drainage characterisation).
In the case of block model interpolation, the block size in relation to the average sample spacing and the search employed.
Any assumptions behind modelling of selective mining units. Any assumptions about correlation between variables. Description of how the geological interpretation was used to control
the resource estimates. Discussion of basis for using or not using grade cutting or capping. 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 modelling and resource estimation was undertaken by the Competent Person using a geological model created using standard estimation tools within Maptek's Vulcan V9 modelling software. Sections around mineralisation were constructed to envelop the areas where the grade was greater than 0.5 g/t and extrapolated out half the distance between observed points past the last point of known mineralisation. The sections were then wireframed, and solid boundaries produced to constrain the gold mineralisation. The gold was estimated into the solid boundaries using Ordinary Kriging methods. Block model parent sizes 10 m x 10 m by 10 m and sub-cells down to 0.5 m x 0.5 m x 0.5 m to incorporate the edges of the solid boundaries compared to a composite length of between 0.5 m and 1 m. The Imwelo Project is a greenfield site with no previous resource estimate; therefore, check estimates, or reconciliation back to previous estimates or production performance was not possible. Estimated resources include only Gold, with no assumptions of other by-products or deleterious elements. The resource model for gold has been validated by:
• Comparison of the slice statistics of each variable with the corresponding block estimates
• Locally comparing drill holes and estimated blocks in cross-section and plan.
• Swath Plots for Easting, Northing and Elevation
Moisture Whether the tonnages are estimated on a dry basis or with natural moisture, and the method of determination of the moisture content.
Tonnages were estimated on a dry basis.
Cut-off parameters
The basis of the adopted cut-off grade(s) or quality parameters applied.
The cut-off grade of 0.5 g/t takes into account LVG’s current view of long term metal prices, foreign exchange and cost assumptions, mining and metallurgy test work were used to select cut-off grades and physical mining parameters.
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.
The resource estimate has been completed with the assumption that it will be mined using open cut mining and underground mining methods. Optimisation has been completed in whittle with open cut methods used. Mining Cost Adjustment Factor (MCAF) has been increased 5% for every 10 m depth increase. 5% loss of ore and 5% dilution of ore has been used in calculations. Processing Cost Adjustment Factor (PCAF) has been kept at 1 88% processing recovery has been assumed. Underground mining assumptions included; Minimum mining width of 1.5 m and a maximum mining width 5 m was used 5% dilution of tonnes at a diluted grade of 0.2 g/t is added to ore production
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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.
Gold recovery is based on metallurgical work completed by Peacocke and Simpson Mineral Processing Engineers (PSM) of Harare, Zimbabwe, in 2013 and 2014. PSM completed gravity concentration and cyanide leaching test-work on a bulk composite sample from the Imwelo area in 2013 and 2014. Results from the test work showed overall gold recovery of 88.5 % (2013) and 90.6 % (2014) and 90% metallurgical recovery has been assumed in the calculation of the cut-off grade and estimates.
Lake Victoria Gold also contracted Maelgwyn Mineral Services based in Johannesburg South Africa to complete test work on an ~100 kg (44 kg from drillcore and ~60 kg ROM material) sample from the LVG 2016 drilling.
Detailed results are available from the Maelgwyn final report, but results obtained are conclusive that:
• The chemical analysis showed that there were no environmentally concerning elements such as Hg, Cr or As detected in the sample.
• The results indicated that this sample is amenable to gravity recovery and that the liberation of the gold depended on the grind size and the mass pull of the ore.
• Milling the ROM (core) sample to 80% passing 75 µm a gold dissolution of 88% was achieved after 24 hours if leached in the presence of carbon, (CIL test). The base case test leached in the absence of carbon only achieved 73% gold dissolution after 24 hours and an average preg-robbing of about 14% was observed.
• As with the ROM sample an 88% gold recovery was achieved, however for the gravity tails the “feed grade” was lower to start with thus a lower final residue was achieved for the gravity test compared to the direct leaching bringing the overall Gravity – Leach recovery to 91% gold recovery
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.
No environmental factors or assumptions have been considered by the Competent Person as impediments to eventual economic extraction. The Imwelo Project (ML 538/2015) has no known associated environmental liabilities. To retain the licence, the licence holder must comply with annual licence fees and quarterly - and annual reports must be in good standing with the Tanzanian Ministry of Mines and Energy. LVG contracted Kinabo and Mushi (2013) to complete an Environmental Impact Assessment to comply with forthcoming Mining Licence application and no material issues were identified.
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,
Densities of 264 core samples, representative of different lithologies were determined. The densities were determined by dividing the weight of a given sample by the volume of the sample. Samples of 150g to 900g were used. Weights were determined by a scale measure, while volumes were determined by submerging the sample in water in a graduated cylinder (measuring cylinder). Densities determined ranged between 1.8 to 3,5 g/cm³. The average density was found to be 2.42 g/cm³. For resource estimations, the average density (2,42 g/cm³) was used.
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etc), moisture and differences between rock and alteration zones within the deposit.
Discuss assumptions for bulk density estimates used in the evaluation process of the different materials.
The surrounding host rock is recorded as 2.5 g/cm3 from previous work completed on the Imwelo project.
Classification The basis for the classification of the Mineral Resources into varying confidence categories.
Whether appropriate account has been taken of all relevant factors (ie 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 the result appropriately reflects the Competent Person’s view of the deposit.
The Mineral Resource has been classified into Measured, Indicated and Inferred based on the following relevant factors: drill hole density, style of mineralisation and geological continuity, data quality and associated QA/QC and grade continuity. The resource classification accounts for all relevant factors. Two methods were used to determine the optimal drill spacing for Resource classification at Imwelo: a). Variogram method which analyses proportions of the sill, b). an estimation variance method. Due to mineralisation within E-W striking shear zones, all LVG drill holes were planned and drilled along strike at spacings varying between 20 m and 100 m. In addition, step forward and backward holes were drilled at 7.5 m to 10 m spacing when noteworthy mineralisation was intercepted. All holes were drilled towards 180o azimuth and -60o dip to intercept the sub vertical dipping quartz veins. The data spacing and distribution is sufficient to establish geological and grade continuity appropriate for Mineral Resource estimation and classification and the results appropriately reflect the Competent Person’s view of the deposit.
Audits or reviews.
The results of any audits or reviews of Mineral Resource estimates. No external audits or review have been undertaken. An internal review of modelling and estimation methods, assumptions and results has been conducted by Lyon Barrett and James Knowles, Principal Geologists of Measured Group Pty Ltd
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.
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.
These statements of relative accuracy and confidence of the estimate should be compared with production data, where available.
Confidence in the relative accuracy of the estimates is reflected in the classification of estimates as Measured, Indicated and Inferred. Variography was completed for gold. The variogram models for each estimation domain were aligned to the average orientation of each domain wireframe because none of the experimental variograms were structured enough to demonstrate unambiguous directions of continuity. As a result, the interpreted plane of maximum continuity for most domains dips to the north. The variogram models were interpreted as being isotropic in the plane with shorter ranges perpendicular to the plane of maximum continuity. Validation checks have been completed on raw data, composited data, model data and Resource estimates. The Resource limits are limited to the boundaries specified by the Mining Lease boundaries. The model is checked to ensure it honours the validated data and no obvious anomalies exist which are not geologically sound. The model has no gold grades outside the mineralised zones this ensures that none of the host rock is counted within the estimate. The mineralised zones are based on actual intersections. These intersections are checked against the drill hole data. Field geologist picks, and laboratory sample data have been independently checked by the competent person. The picks are sound and suitable to be used in the modelling and estimation process.
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Where the drill hole data showed that no gold existed, the mineralised zone was not created in these areas. At the final drill hole intercept, the mineralised zone was created half the distance from the previous intersection unless there was evidence that no gold was intercepted or the lease boundary cut the zone off. There has been no production from this deposit to reconcile against this resource estimate. Further drilling also needs be completed to improve Resource classification of the Inferred Resource. Metallurgy is assumed to be representative.
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APPENDIX B: MINING LICENCE
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APPENDIX C: PLANS AND CROSS SECTIONS
Figure 6: Area C 378120E showing Block Model vs Drillhole Data
Figure 7: Area C 378010E showing Block Model vs Drillhole Data
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Figure 8: MSZ 378180E showing Block Model vs Drillhole Data
Figure 9: MSZ 378140E showing Block Model vs Drillhole Data
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Figure 10: MSZ 377170E showing Block Model vs Drillhole Data
Figure 11: Central Zone 377070E showing Block Model vs Drillhole Data
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Figure 12: Central Zone 376870E showing Block Model vs Drillhole Data
Figure 13: Central Zone 376700E showing Block Model vs Drillhole Data
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Figure 14: Central West Zone 376690E showing Block Model vs Drillhole Data
Figure 15: Central West Zone 376580E showing Block Model vs Drillhole Data
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Figure 16: Central West Zone 376480E showing Block Model vs Drillhole Data
Figure 17: WSZ 376120E showing Block Model vs Drillhole Data
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Figure 18: WSZ 376120E showing Block Model vs Drillhole Data
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APPENDIX D: SWATH PLOTS
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0
5
10
15
20
25
30
35
40
45
50
0
1
2
3
4
5
6
7
No
. Co
mp
osi
tes
Go
ld g
/t
Easting
Imwelo Gold g/t Easting
Composite Count Composite Grade Model Grade
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0
20
40
60
80
100
120
140
160
0
0.5
1
1.5
2
2.5
3
3.5
N9678700 N9678800 N9678900 N9679000 N9679200
No
. Co
mp
osi
tes
Go
ld g
/t
Northing
Imwelo Gold g/t Northing
Number of Composites GOLD_COMP Au
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0
20
40
60
80
100
120
140
0
0.5
1
1.5
2
2.5
3
3.5
1050 1070 1090 1110 1130 1150 1170
No
. Co
mp
osi
tes
Go
ld g
/t
RL
Imwelo Gold g/t RL
Number of Composites GOLD_COMP Au
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APPENDIX E: IMWELO DRILLHOLE DATA
HOLE ID EASTING NORTHING RL TOTAL DEPTH
(m)
HOLE TYPE
COMPANY JORC PoB
11BH001 377220 9679021 1184 60 RC PEAK NO
11BH002 377220 9679041 1183 76 RC PEAK NO
11BH003 377220 9679061 1182 79 RC PEAK NO
11BH004 377220 9679141 1179 60 RC PEAK NO
11BH005 377220 9679161 1179 60 RC PEAK NO
11BH007 377220 9679201 1178 56 RC PEAK NO
12BH001 377320 9679061 1182 52 RC PEAK NO
12BH002 377320 9679081 1181 76 RC PEAK NO
12BH003 377320 9679141 1179 60 RC PEAK NO
12BH004 377320 9679161 1178 60 RC PEAK NO
12BH005 377320 9679181 1177 58 RC PEAK NO
13BH001 377420 9679121 1179 60 RC PEAK NO
13BH002 377420 9679141 1178 58 RC PEAK NO
13BH003 377420 9679161 1177 60 RC PEAK NO
1BH001 378020 9679021 1187 60 RC PEAK NO
1BH002 378020 9679041 1186 56 RC PEAK NO
1BH003 378020 9679061 1185 60 RC PEAK NO
1BH004 378020 9679081 1184 60 RC PEAK NO
1BH005 378020 9679101 1183 60 RC PEAK NO
2BH001 378120 9679021 1186 60 RC PEAK NO
2BH002 378120 9679041 1185 80 RC PEAK NO
2BH003 378120 9679061 1183 80 RC PEAK NO
2BH004 378120 9679081 1182 60 RC PEAK NO
2BH005 378120 9679101 1181 60 RC PEAK NO
3BH001 378220 9679001 1186 60 RC PEAK NO
3BH002 378220 9679021 1185 60 RC PEAK NO
3BH003 378220 9679041 1183 80 RC PEAK NO
3BH004 378220 9679061 1181 80 RC PEAK NO
3BH005 378220 9679081 1180 80 RC PEAK NO
3BH006 378220 9679101 1179 60 RC PEAK NO
4BH001 378320 9678981 1183 60 RC PEAK NO
4BH002 378320 9679001 1183 80 RC PEAK NO
4BH003 378320 9679021 1182 80 RC PEAK NO
4BH004 378320 9679041 1181 80 RC PEAK NO
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HOLE ID EASTING NORTHING RL TOTAL DEPTH
(m)
HOLE TYPE
COMPANY JORC PoB
4BH005 378320 9679061 1180 80 RC PEAK NO
4BH006 378320 9679081 1179 80 RC PEAK NO
4BH007 378320 9679101 1178 80 RC PEAK NO
5BH001 378420 9678981 1182 60 RC PEAK NO
5BH002 378420 9679001 1181 60 RC PEAK NO
5BH003 378420 9679021 1180 76 RC PEAK NO
5BH004 378420 9679041 1180 60 RC PEAK NO
5BH005 378420 9679061 1179 60 RC PEAK NO
5BH006 378420 9679081 1178 60 RC PEAK NO
6BH001 377620 9678721 1194 60 RC PEAK NO
6BH002 377620 9678741 1193 60 RC PEAK NO
6BH003 377620 9678761 1193 60 RC PEAK NO
6BH004 377620 9678781 1192 60 RC PEAK NO
7BH001 377720 9678701 1196 60 RC PEAK NO
7BH002 377720 9678721 1195 80 RC PEAK NO
7BH003 377720 9678741 1194 80 RC PEAK NO
7BH004 377720 9678761 1194 80 RC PEAK NO
7BH005 377720 9678781 1193 60 RC PEAK NO
7BH006 377720 9678801 1193 60 RC PEAK NO
8BH001 377820 9678721 1195 62 RC PEAK NO
8BH002 377820 9678741 1195 79 RC PEAK NO
8BH003 377820 9678761 1194 61 RC PEAK NO
8BH004 377820 9678781 1194 60 RC PEAK NO
8BH005 377820 9678801 1193 60 RC PEAK NO
9BH001 377920 9678741 1194 60 RC PEAK NO
9BH002 377920 9678761 1194 65 RC PEAK NO
9BH003 377920 9678781 1193 72 RC PEAK NO
9BH004 377920 9678801 1193 69 RC PEAK NO
9BH005 377920 9678821 1192 52 RC PEAK NO
9BH006 377920 9678841 1192 60 RC PEAK NO
IAC001 377227 9679134 1180 44 AC PEAK NO
IAC002 377206 9679130 1180 45 AC PEAK NO
IAC003 377182 9679127 1180 47 AC PEAK NO
IAC004 377163 9679124 1180 44 AC PEAK NO
IAC005 377141 9679109 1181 48 AC PEAK NO
IAC006 377178 9679579 1165 36 AC PEAK NO
Imwelo Project
Geology and Resource Estimate Report
Page 109
HOLE ID EASTING NORTHING RL TOTAL DEPTH
(m)
HOLE TYPE
COMPANY JORC PoB
IAC007 377165 9679568 1165 36 AC PEAK NO
IAC008 377151 9679556 1166 44 AC PEAK NO
IAC009 377136 9679539 1167 38 AC PEAK NO
IAC010 377122 9679526 1167 35 AC PEAK NO
IAC011 377113 9679517 1168 34 AC PEAK NO
IAC012 377086 9679509 1168 29 AC PEAK NO
IAC013 377074 9679499 1169 29 AC PEAK NO
IAC014 377292 9679480 1166 34 AC PEAK NO
IAC015 377278 9679480 1167 35 AC PEAK NO
IAC016 377262 9679485 1167 32 AC PEAK NO
IAC017 377237 9679489 1167 34 AC PEAK NO
IAC018 377221 9679489 1167 41 AC PEAK NO
IAC019 377199 9679497 1167 35 AC PEAK NO
IMDD001 376370 9679115 1171 354 DD Barrick NO
IMDD003 376090 9679150 1159 287 DD Barrick YES
IMDD005 377850 9678925 1190 308 DD Barrick NO
IMDD007 378150 9679210 1176 302 DD Barrick NO
IMRAB175 376028 9679286 1156 50 RAB Barrick NO
IMRAB176 376019 9679257 1156 41 RAB Barrick NO
IMRAB177 376000 9678850 1160 61 RAB Barrick NO
IMRAB178 376000 9678815 1161 41 RAB Barrick NO
IMRAB179 376003 9678787 1161 35 RAB Barrick NO
IMRAB180 376002 9678752 1162 38 RAB Barrick NO
IMRAB181 376005 9678755 1162 29 RAB Barrick NO
IMRAB182 376002 9678740 1162 27 RAB Barrick NO
IMRAB183 376002 9678732 1163 44 RAB Barrick NO
IMRAB184 376002 9678712 1163 37 RAB Barrick NO
IMRAB185 376000 9678690 1163 36 RAB Barrick NO
IMRAB186 376000 9678669 1164 32 RAB Barrick NO
IMRAB187 376000 9678651 1164 33 RAB Barrick NO
IMRAB188 375998 9678631 1165 30 RAB Barrick NO
IMRAB189 376000 9678614 1165 29 RAB Barrick NO
IMRAB190 377603 9678300 1198 134 RAB Barrick NO
IMRAB191 377603 9678240 1198 47 RAB Barrick NO
IMRAB192 377603 9678222 1198 65 RAB Barrick NO
IMRAB193 377603 9678152 1198 62 RAB Barrick NO
Imwelo Project
Geology and Resource Estimate Report
Page 110
HOLE ID EASTING NORTHING RL TOTAL DEPTH
(m)
HOLE TYPE
COMPANY JORC PoB
IMRAB194 377603 9678154 1198 113 RAB Barrick NO
IMRAB195 377603 9678083 1198 71 RAB Barrick NO
IMRAB196 377603 9678040 1198 44 RAB Barrick NO
IMRAB197 377601 9678016 1198 86 RAB Barrick NO
IMRAB198 377600 9677964 1198 64 RAB Barrick NO
IMRAB199 377600 9677925 1198 61 RAB Barrick NO
IMRAB200 377600 9677888 1198 53 RAB Barrick NO
IMRAB201 377600 9677855 1197 59 RAB Barrick NO
IMRAB202 377597 9677818 1197 41 RAB Barrick NO
IMRAB203 377600 9677767 1197 50 RAB Barrick NO
IMRAB204 377603 9677768 1197 46 RAB Barrick NO
IMRAB205 377603 9677740 1197 52 RAB Barrick NO
IMRAB206 377604 9677709 1196 45 RAB Barrick NO
IMRAB207 378996 9679506 1165 32 RAB Barrick NO
IMRAB208 378995 9679485 1166 35 RAB Barrick NO
IMRAB209 378995 9679461 1168 38 RAB Barrick NO
IMRAB210 378996 9679669 1160 35 RAB Barrick NO
IMRAB211 378999 9679647 1160 21 RAB Barrick NO
IMRAB212 379000 9679635 1160 35 RAB Barrick NO
IMRAB213 379000 9679618 1161 34 RAB Barrick NO
IMRAB214 379001 9679602 1175 42 RAB Barrick NO
IMRAB215 379001 9679577 1175 41 RAB Barrick NO
IMRAB216 378998 9679554 1163 40 RAB Barrick NO
IMRAB217 379000 9679533 1164 22 RAB Barrick NO
IMRAB218 379000 9679520 1165 39 RAB Barrick NO
IMRAB219 378997 9679438 1169 35 RAB Barrick NO
IMRAB220 378995 9679414 1169 19 RAB Barrick NO
IMRAB221 378999 9679392 1170 21 RAB Barrick NO
IMRAB222 378998 9679362 1170 38 RAB Barrick NO
IMRAB223 378999 9679380 1170 36 RAB Barrick NO
IMRAB224 378998 9679327 1172 41 RAB Barrick NO
IMRAB225 379000 9679330 1172 35 RAB Barrick NO
IMRAB226 379001 9679308 1175 21 RAB Barrick NO
IMRAB227 379005 9679299 1175 25 RAB Barrick NO
IMRAB228 379002 9679269 1175 35 RAB Barrick NO
IMRAB229 379002 9679243 1175 34 RAB Barrick NO
Imwelo Project
Geology and Resource Estimate Report
Page 111
HOLE ID EASTING NORTHING RL TOTAL DEPTH
(m)
HOLE TYPE
COMPANY JORC PoB
IMRAB230 379000 9679222 1176 34 RAB Barrick NO
IMRAB231 378998 9679201 1177 28 RAB Barrick NO
IMRAB232 379000 9679184 1178 34 RAB Barrick NO
IMRAB233 379000 9679163 1179 44 RAB Barrick NO
IMRAB234 378999 9679139 1180 40 RAB Barrick NO
IMRAB235 378998 9679117 1180 38 RAB Barrick NO
IMRAB236 378997 9679094 1181 39 RAB Barrick NO
IMRAB237 379000 9679075 1182 34 RAB Barrick NO
IMRAB238 379005 9679025 1175 40 RAB Barrick NO
IMRAB239 379005 9679025 1175 42 RAB Barrick NO
IMRAB240 379000 9679034 1183 47 RAB Barrick NO
IMRAB241 378996 9679010 1184 48 RAB Barrick NO
IMRAB242 378996 9679010 1184 44 RAB Barrick NO
IMRAB243 379001 9678990 1175 38 RAB Barrick NO
IMRAB244 378999 9678967 1185 37 RAB Barrick NO
IMRAB245 378998 9678948 1186 37 RAB Barrick NO
IMRAB246 378997 9678924 1187 21 RAB Barrick NO
IMRAB247 378998 9678910 1187 27 RAB Barrick NO
IMRAB248 378998 9678896 1187 39 RAB Barrick NO
IMRAB249 378999 9678871 1188 46 RAB Barrick NO
IMRAB250 378999 9678843 1188 40 RAB Barrick NO
IMRAB251 378999 9678816 1189 49 RAB Barrick NO
IMRAB252 379001 9678816 1175 48 RAB Barrick NO
IMRAB253 379000 9678800 1189 50 RAB Barrick NO
IMRAB254 379000 9678777 1189 50 RAB Barrick NO
IMRAB255 379000 9678776 1189 40 RAB Barrick NO
IMRAB256 376120 9679045 1162 10 RAB Barrick NO
IMRAB257 376120 9679039 1162 41 RAB Barrick NO
IMRAB258 376120 9679015 1161 35 RAB Barrick NO
IMRAB259 376119 9678995 1161 26 RAB Barrick NO
IMRAB260 376119 9678980 1161 41 RAB Barrick NO
IMRAB261 376119 9678988 1161 47 RAB Barrick NO
IMRAB262 376119 9678956 1161 43 RAB Barrick NO
IMRAB263 376120 9678935 1161 32 RAB Barrick NO
IMRAB264 376120 9678915 1161 29 RAB Barrick NO
IMRAB265 376120 9678900 1160 53 RAB Barrick NO
Imwelo Project
Geology and Resource Estimate Report
Page 112
HOLE ID EASTING NORTHING RL TOTAL DEPTH
(m)
HOLE TYPE
COMPANY JORC PoB
IMRAB266 376120 9678874 1160 19 RAB Barrick NO
IMRAB267 376320 9679040 1170 57 RAB Barrick NO
IMRAB268 376320 9679005 1170 7 RAB Barrick NO
IMRAB269 376320 9679000 1170 47 RAB Barrick NO
IMRAB270 376320 9678972 1171 62 RAB Barrick NO
IMRAB271 376320 9678934 1171 23 RAB Barrick NO
IMRAB272 376319 9678922 1171 41 RAB Barrick NO
IMRAB273 376320 9678896 1171 53 RAB Barrick NO
IMRAB274 376320 9678864 1171 30 RAB Barrick NO
IMRAB275 376320 9678847 1171 15 RAB Barrick NO
IMRAB276 376949 9678870 1188 44 RAB Barrick NO
IMRAB277 376950 9678845 1189 41 RAB Barrick NO
IMRAB278 376950 9678800 1190 32 RAB Barrick NO
IMRAB279 376951 9678807 1190 23 RAB Barrick NO
IMRAB280 376951 9678795 1190 26 RAB Barrick NO
IMRAB281 376951 9678781 1190 29 RAB Barrick NO
IMRAB282 376951 9678765 1190 38 RAB Barrick NO
IMRAB283 376951 9678743 1190 44 RAB Barrick NO
IMRAB284 376951 9678717 1190 41 RAB Barrick NO
IMRAB285 377450 9678840 1189 65 RAB Barrick NO
IMRAB286 377450 9678800 1191 53 RAB Barrick NO
IMRAB287 377450 9678780 1192 47 RAB Barrick NO
IMRAB288 377450 9678752 1192 53 RAB Barrick NO
IMRAB289 377450 9678720 1193 32 RAB Barrick NO
IMRAB290 377452 9678702 1194 52 RAB Barrick NO
IMRAB291 377450 9678671 1195 39 RAB Barrick NO
IMRAB292 377450 9678650 1195 38 RAB Barrick NO
IMRAB293 378060 9679100 1182 65 RAB Barrick NO
IMRAB294 378060 9679060 1185 71 RAB Barrick NO
IMRAB295 378060 9679020 1187 58 RAB Barrick NO
IMRAB296 378060 9678990 1189 62 RAB Barrick NO
IMRAB297 378060 9678964 1190 77 RAB Barrick NO
IMRAB298 378048 9678885 1192 55 RAB Barrick NO
IMRAB299 378048 9678859 1192 44 RAB Barrick NO
IMRAB300 378048 9678836 1192 44 RAB Barrick NO
IMRAB301 378048 9678810 1192 50 RAB Barrick NO
Imwelo Project
Geology and Resource Estimate Report
Page 113
HOLE ID EASTING NORTHING RL TOTAL DEPTH
(m)
HOLE TYPE
COMPANY JORC PoB
IMRAB302 378048 9678782 1193 41 RAB Barrick NO
IMRAB303 378048 9678758 1193 65 RAB Barrick NO
IMRAB304 378048 9678730 1193 44 RAB Barrick NO
IMRAB305 378048 9678704 1194 50 RAB Barrick NO
IMRAB306 378665 9679100 1181 35 RAB Barrick NO
IMRAB307 378665 9679081 1182 23 RAB Barrick NO
IMRAB308 378665 9679068 1182 24 RAB Barrick NO
IMRAB309 378665 9679055 1183 35 RAB Barrick NO
IMRAB310 378665 9679035 1183 38 RAB Barrick NO
IMRAB311 378665 9679013 1184 40 RAB Barrick NO
IMRAB312 378665 9678990 1185 41 RAB Barrick NO
IMRAB313 378665 9678966 1185 47 RAB Barrick NO
IMRAB314 378665 9678940 1186 47 RAB Barrick NO
IMRAB315 378665 9678915 1187 44 RAB Barrick NO
IMRAB316 379200 9679130 1175 35 RAB Barrick NO
IMRAB317 379200 9679110 1175 34 RAB Barrick NO
IMRAB318 379200 9679091 1175 31 RAB Barrick NO
IMRAB319 379200 9679074 1175 34 RAB Barrick NO
IMRAB320 379200 9679055 1175 41 RAB Barrick NO
IMRAB321 379200 9679033 1175 41 RAB Barrick NO
IMRAB322 379200 9679009 1175 44 RAB Barrick NO
IMRAB323 379200 9678983 1175 31 RAB Barrick NO
IMRAB324 379200 9678965 1175 35 RAB Barrick NO
IMRAB325 379200 9678945 1175 39 RAB Barrick NO
IMRAB326 378840 9679100 1181 47 RAB Barrick NO
IMRAB327 378840 9679072 1182 35 RAB Barrick NO
IMRAB328 378840 9679055 1183 32 RAB Barrick NO
IMRAB329 378840 9679045 1183 44 RAB Barrick NO
IMRAB330 378840 9679023 1184 41 RAB Barrick NO
IMRAB331 378840 9679000 1185 29 RAB Barrick NO
IMRAB332 378840 9678983 1185 38 RAB Barrick NO
IMRAB333 378840 9678950 1186 29 RAB Barrick NO
IMRAB334 378490 9679090 1179 36 RAB Barrick NO
IMRAB335 378490 9679070 1180 44 RAB Barrick NO
IMRAB336 378490 9679045 1180 50 RAB Barrick NO
IMRAB337 378490 9679015 1181 56 RAB Barrick NO
Imwelo Project
Geology and Resource Estimate Report
Page 114
HOLE ID EASTING NORTHING RL TOTAL DEPTH
(m)
HOLE TYPE
COMPANY JORC PoB
IMRAB338 378490 9678992 1182 34 RAB Barrick NO
IMRAB339 378490 9678972 1183 53 RAB Barrick NO
IMRAB340 378270 9678790 1189 23 RAB Barrick NO
IMRAB341 378270 9678778 1189 44 RAB Barrick NO
IMRAB342 378270 9678752 1189 62 RAB Barrick NO
IMRAB343 378270 9678715 1190 49 RAB Barrick NO
IMRAB344 378270 9678686 1190 44 RAB Barrick NO
IMRAB345 378270 9678660 1190 53 RAB Barrick NO
IMRAB346 376520 9678980 1178 62 RAB Barrick NO
IMRAB347 376520 9678942 1179 62 RAB Barrick NO
IMRAB348 376521 9678904 1179 71 RAB Barrick NO
IMRAB349 376520 9678863 1179 36 RAB Barrick NO
IMRAB350 376518 9678842 1179 59 RAB Barrick NO
IMRAB351 376520 9678806 1179 56 RAB Barrick NO
IMRAB352 376520 9679380 1171 74 RAB Barrick NO
IMRAB353 376520 9679335 1171 44 RAB Barrick NO
IMRAB354 376520 9679310 1172 65 RAB Barrick NO
IMRAB355 376520 9679270 1173 59 RAB Barrick NO
IMRAB356 376520 9679235 1174 74 RAB Barrick NO
IMRAB357 376520 9679190 1175 53 RAB Barrick NO
IMRAB358 376520 9679160 1176 59 RAB Barrick NO
IMRAB359 376520 9679125 1176 59 RAB Barrick NO
IMRAB360 376522 9679090 1177 62 RAB Barrick NO
IMRAB361 376520 9679053 1177 65 RAB Barrick NO
IMRAB362 376520 9679017 1178 65 RAB Barrick NO
IMRAB363 377662 9679400 1169 27 RAB Barrick NO
IMRAB364 377660 9679387 1169 44 RAB Barrick NO
IMRAB365 377660 9679361 1171 45 RAB Barrick NO
IMRAB366 377660 9679334 1172 67 RAB Barrick NO
IMRAB367 377660 9679293 1173 62 RAB Barrick NO
IMRAB368 377660 9679255 1175 50 RAB Barrick NO
IMRAB369 377656 9679222 1177 57 RAB Barrick NO
IMRAB370 377660 9679187 1177 55 RAB Barrick NO
IMRAB371 377660 9679153 1178 47 RAB Barrick NO
IMRAB372 377660 9679125 1180 39 RAB Barrick NO
IMRAB373 377660 9679102 1181 39 RAB Barrick NO
Imwelo Project
Geology and Resource Estimate Report
Page 115
HOLE ID EASTING NORTHING RL TOTAL DEPTH
(m)
HOLE TYPE
COMPANY JORC PoB
IMRAB374 377660 9679080 1182 47 RAB Barrick NO
IMRAB375 377660 9679055 1183 62 RAB Barrick NO
IMRAB376 377660 9679017 1185 71 RAB Barrick NO
IMRAB377 377660 9678972 1187 65 RAB Barrick NO
IMRAB378 377660 9678935 1188 41 RAB Barrick NO
IMRAB379 377660 9678910 1189 44 RAB Barrick NO
IMRAB380 377660 9678884 1190 45 RAB Barrick NO
IMRAB381 377660 9678857 1191 71 RAB Barrick NO
IMRAB382 377660 9678813 1192 68 RAB Barrick NO
IMRAB383 377600 9678650 1196 62 RAB Barrick NO
IMRAB384 377600 9678612 1196 47 RAB Barrick NO
IMRAB385 377600 9678585 1197 47 RAB Barrick NO
IMRAB386 377600 9678557 1198 43 RAB Barrick NO
IMRAB387 377600 9678531 1198 40 RAB Barrick NO
IMRAB388 377600 9678507 1199 52 RAB Barrick NO
IMRAB389 377600 9678476 1199 49 RAB Barrick NO
IMRAB390 377600 9678449 1199 44 RAB Barrick NO
IMRAB391 377600 9678423 1199 42 RAB Barrick NO
IMRAB392 377600 9678398 1198 56 RAB Barrick NO
IMRAB393 377600 9678364 1198 45 RAB Barrick NO
IMRAB394 377600 9678337 1198 41 RAB Barrick NO
IMRAB395 377600 9678312 1198 55 RAB Barrick NO
IMRAB396 377200 9679380 1171 46 RAB Barrick NO
IMRAB397 377200 9679320 1173 49 RAB Barrick NO
IMRAB398 377200 9679350 1172 39 RAB Barrick NO
IMRAB399 377200 9679290 1174 41 RAB Barrick NO
IMRAB400 377200 9679266 1175 49 RAB Barrick NO
IMRAB401 377202 9679237 1177 68 RAB Barrick NO
IMRAB402 377200 9679196 1178 74 RAB Barrick NO
IMRAB403 377200 9679151 1179 65 RAB Barrick NO
IMRAB404 377200 9679112 1180 76 RAB Barrick NO
IMRAB405 377200 9679067 1182 65 RAB Barrick NO
IMRAB406 377200 9679035 1183 63 RAB Barrick NO
IMRAB407 377200 9678997 1185 65 RAB Barrick NO
IMRAB408 377200 9678957 1187 38 RAB Barrick NO
IMRAB409 377200 9678935 1188 60 RAB Barrick NO
Imwelo Project
Geology and Resource Estimate Report
Page 116
HOLE ID EASTING NORTHING RL TOTAL DEPTH
(m)
HOLE TYPE
COMPANY JORC PoB
IMRAB410 377200 9678899 1189 62 RAB Barrick NO
IMRAB411 376320 9679300 1165 57 RAB Barrick NO
IMRAB412 376320 9679265 1166 71 RAB Barrick NO
IMRAB413 376320 9679225 1167 60 RAB Barrick NO
IMRAB414 376304 9679189 1167 62 RAB Barrick NO
IMRAB415 376320 9679150 1168 59 RAB Barrick NO
IMRAB416 376320 9679116 1169 53 RAB Barrick NO
IMRAB417 376720 9679310 1175 68 RAB Barrick NO
IMRAB418 376720 9679270 1176 68 RAB Barrick NO
IMRAB419 376720 9679228 1178 59 RAB Barrick NO
IMRAB420 376722 9679192 1179 86 RAB Barrick NO
IMRAB421 376720 9679140 1181 69 RAB Barrick NO
IMRAB422 376718 9679098 1183 71 RAB Barrick NO
IMRAB423 376718 9679054 1182 68 RAB Barrick NO
IMRAB424 376718 9679021 1182 41 RAB Barrick NO
IMRAB425 377000 9679250 1178 56 RAB Barrick NO
IMRAB426 377000 9679216 1179 58 RAB Barrick NO
IMRAB427 377000 9679181 1180 78 RAB Barrick NO
IMRAB428 377000 9679133 1181 86 RAB Barrick NO
IMRAB429 377000 9679080 1182 68 RAB Barrick NO
IMRAB430 377008 9679040 1184 61 RAB Barrick NO
IMRAB431 377400 9679230 1175 33 RAB Barrick NO
IMRAB432 377410 9679211 1176 62 RAB Barrick NO
IMRAB433 377400 9679173 1177 71 RAB Barrick NO
IMRAB434 377400 9679129 1179 54 RAB Barrick NO
IMRAB435 377397 9679095 1180 83 RAB Barrick NO
IMRAB436 377400 9679044 1182 71 RAB Barrick NO
IMRAB437 377400 9679044 1182 62 RAB Barrick NO
IMRAB438 378750 9679430 1169 36 RAB Barrick NO
IMRAB439 378750 9679409 1169 47 RAB Barrick NO
IMRAB440 378750 9679381 1170 17 RAB Barrick NO
IMRAB441 378750 9679371 1171 38 RAB Barrick NO
IMRAB442 378745 9679349 1171 38 RAB Barrick NO
IMRAB443 378750 9679327 1172 38 RAB Barrick NO
IMRAB444 378750 9679305 1173 39 RAB Barrick NO
IMRAB445 379200 9679380 1175 34 RAB Barrick NO
Imwelo Project
Geology and Resource Estimate Report
Page 117
HOLE ID EASTING NORTHING RL TOTAL DEPTH
(m)
HOLE TYPE
COMPANY JORC PoB
IMRAB446 379200 9679360 1175 30 RAB Barrick NO
IMRAB447 379200 9679343 1175 19 RAB Barrick NO
IMRAB448 379200 9679333 1175 23 RAB Barrick NO
IMRAB449 379200 9679350 1175 16 RAB Barrick NO
IMRAB450 379200 9679310 1175 36 RAB Barrick NO
IMRC001 376120 9679050 1162 200 RC Barrick YES
IMRC002 376000 9679050 1156 200 RC Barrick YES
IMRC003 376320 9679095 1169 175 RC Barrick NO
IMRC004 376320 9679008 1170 174 RC Barrick YES
IMRC005 376520 9678950 1179 174 RC Barrick YES
IMRC006 376700 9678945 1183 177 RC Barrick NO
IMRC007 377660 9678795 1192 180 RC Barrick NO
IMRC008 377838 9678855 1192 186 RC Barrick NO
IMRC009 377935 9678835 1192 168 RC Barrick NO
IMRC010 378145 9679120 1180 73 RC Barrick NO
IMRC011 378315 9679085 1179 204 RC Barrick NO
IMRC012 378490 9679085 1179 200 RC Barrick YES
IMRC013 378160 9679100 1180 174 RC Barrick YES
IMWDD-001 378303 9679058 1180 96 DD LVG NO
IMWDD-002 376701 9678777 1184 40 DD LVG NO
IMWDD-003 376712 9678885 1184 75 DD LVG YES
IMWDD-004 377178 9678634 1195 111 DD LVG NO
IMWDD-005 377301 9678624 1195 144 DD LVG NO
IMWDD-006 377007 9678730 1191 149 DD LVG NO
IMWDD-007 376897 9678779 1189 150 DD LVG NO
IMWDD-008 376793 9678860 1186 150 DD LVG NO
IMWDD-009 376604 9678911 1181 116 DD LVG YES
IMWDD-010 376498 9678925 1178 105 DD LVG YES
IMWDD-011 376398 9678920 1174 111 DD LVG YES
IMWDD-012 376298 9678960 1170 96 DD LVG YES
IMWDD-013 377749 9678763 1194 84 DD LVG NO
IMWDD-014 377601 9678765 1192 117 DD LVG NO
IMWDD-015 377498 9678799 1191 92 DD LVG NO
IMWDD-016 377300 9678774 1192 105 DD LVG NO
IMWDD-017 377971 9678770 1193 96 DD LVG NO
IMWDD-018 378393 9678773 1188 96 DD LVG NO
Imwelo Project
Geology and Resource Estimate Report
Page 118
HOLE ID EASTING NORTHING RL TOTAL DEPTH
(m)
HOLE TYPE
COMPANY JORC PoB
IMWDD-019 378194 9679083 1181 123 DD LVG YES
IMWDD-020 378399 9679038 1180 94 DD LVG YES
IMWDD-021 378333 9678764 1188 84 DD LVG NO
IMWDD-022 376582 9678905 1180 81 DD LVG YES
IMWDD-023 376646 9678887 1182 60 DD LVG NO
IMWDD-024 376689 9678895 1183 110 DD LVG NO
IMWDD-025 376739 9678880 1185 70 DD LVG NO
IMWDD-026 376763 9678875 1185 75 DD LVG YES
IMWDD-027 376624 9678911 1181 85 DD LVG YES
IMWDD-028 378362 9679043 1180 90 DD LVG YES
IMWDD-029 378272 9679063 1180 90 DD LVG YES
IMWDD-030 378100 9679092 1182 85 DD LVG YES
IMWDD-031 378078 9679090 1182 66 DD LVG YES
IMWDD-032 377995 9678761 1193 60 DD LVG NO
IMWDD-033 377995 9678812 1192 110 DD LVG NO
IMWDD-034 378158 9679067 1182 77 DD LVG YES
IMWDD-035 378012 9679084 1184 105 DD LVG YES
IMWDD-036 378225 9679070 1180 96 DD LVG YES
IMWDD-037 378253 9679060 1180 131 DD LVG YES
IMWDD-038 377634 9679126 1180 112 DD LVG YES
IMWDD-039 377479 9679100 1180 120 DD LVG YES
IMWDD-040 377225 9679049 1182 120 DD LVG YES
IMWDD-041 376697 9679087 1182 84 DD LVG YES
IMWDD-042 376428 9679115 1173 105 DD LVG YES
IMWDD-043 376691 9679099 1182 69 DD LVG YES
IMWDD-044 376489 9679271 1172 75 DD LVG YES
IMWDD-045 376735 9679227 1178 44 DD LVG YES
IMWDD-046 376868 9678868 1187 72 DD LVG YES
IMWDD-047 377066 9678825 1190 132 DD LVG YES
IMWDD-048 377218 9678818 1191 120 DD LVG YES
IMWDD-049 377426 9678799 1190 102 DD LVG YES
IMWDD-050 376963 9678855 1188 111 DD LVG YES
IMWDD-051 378227 9678759 1190 84 DD LVG YES
IMWDD-052 378083 9678755 1192 86 DD LVG YES
IMWDD-053 378188 9678967 1188 114 DD LVG YES
IMWRC-001 376195 9678979 1165 116 RC LVG YES
Imwelo Project
Geology and Resource Estimate Report
Page 119
HOLE ID EASTING NORTHING RL TOTAL DEPTH
(m)
HOLE TYPE
COMPANY JORC PoB
IMWRC-002 376127 9679004 1162 71 RC LVG YES
IMWRC-003 376565 9678507 1177 96 RC LVG NO
IMWRC-004 376626 9678504 1179 93 RC LVG NO
IMWRC-005 376557 9678901 1180 72 RC LVG NO
IMWRC-006 376602 9678898 1181 80 RC LVG NO
IMWRC-007 376604 9678920 1181 95 RC LVG NO
IMWRC-008 376664 9678905 1183 88 RC LVG YES
IMWRC-009 376713 9678875 1185 90 RC LVG NO
IMWRC-010 376712 9678897 1184 75 RC LVG NO
IMWRC-011 376755 9678877 1185 84 RC LVG YES
IMWRC-012 376755 9678866 1185 70 RC LVG YES
IMWRC-013 376781 9678878 1186 90 RC LVG NO
IMWRC-014 378399 9679026 1180 70 RC LVG YES
IMWRC-015 378406 9679527 1163 101 RC LVG NO
IMWRC-016 378123 9679080 1182 76 RC LVG YES
IMWRC-017 378123 9679093 1181 73 RC LVG YES
IMWRC-018 378119 9679069 1183 70 RC LVG YES
IMWRC-019 376556 9678910 1180 70 RC LVG NO
IMWRC-020 376580 9678895 1180 61 RC LVG NO
IMWRC-021 376646 9678898 1182 81 RC LVG NO
IMWRC-022 376619 9678897 1181 75 RC LVG YES
IMWRC-023 376663 9678899 1183 80 RC LVG NO
IMWRC-024 376740 9678884 1185 83 RC LVG YES
IMWRC-025 376689 9678899 1183 85 RC LVG YES
IMWRC-026 376763 9678864 1186 85 RC LVG YES
IMWRC-027 376782 9678868 1186 72 RC LVG YES
IMWRC-028 377199 9678729 1194 71 RC LVG NO
IMWRC-029 378363 9679031 1181 71 RC LVG YES
IMWRC-030 378301 9679050 1180 76 RC LVG YES
IMWRC-031 378191 9679070 1181 91 RC LVG YES
IMWRC-032 378102 9679079 1183 66 RC LVG YES
IMWRC-033 378041 9679003 1188 50 RC LVG NO
IMWRC-034 378062 9679002 1188 40 RC LVG NO
IMWRC-035 378078 9679002 1188 46 RC LVG NO
IMWRC-036 378051 9679078 1184 50 RC LVG YES
IMWRC-037 378051 9679073 1184 40 RC LVG YES
Imwelo Project
Geology and Resource Estimate Report
Page 120
HOLE ID EASTING NORTHING RL TOTAL DEPTH
(m)
HOLE TYPE
COMPANY JORC PoB
IMWRC-038 378052 9679065 1184 30 RC LVG YES
IMWRC-039 378077 9679077 1183 40 RC LVG YES
IMWRC-040 378102 9679073 1183 50 RC LVG YES
IMWRC-041 378103 9679068 1183 50 RC LVG YES
IMWRC-042 378107 9679000 1188 50 RC LVG NO
IMWRC-043 378140 9679060 1183 50 RC LVG YES
IMWRC-044 378158 9679052 1183 50 RC LVG YES
IMWRC-045 378191 9679052 1182 50 RC LVG YES
IMWRC-046 378220 9679055 1181 40 RC LVG NO
IMWRC-047 378302 9679038 1181 50 RC LVG YES
IMWRC-048 378337 9679035 1181 46 RC LVG NO
IMWRC-049 378323 9679029 1182 46 RC LVG YES
IMWRC-050 378362 9679022 1181 46 RC LVG YES
IMWRC-051 378399 9679019 1181 54 RC LVG YES
IMWRC-052 378398 9679009 1181 45 RC LVG NO
IMWRC-053 378376 9679009 1181 40 RC LVG YES
IMWRC-054 378431 9679017 1180 46 RC LVG YES
IMWRC-055 378432 9679012 1181 42 RC LVG YES
IMWRC-056 378432 9679004 1181 40 RC LVG YES
IMWRC-057 378300 9679060 1180 50 RC LVG NO
IMWRC-058 378300 9679076 1179 50 RC LVG YES
IMWRC-059 378323 9679021 1182 40 RC LVG YES
IMWRC-060 378274 9679041 1182 60 RC LVG YES
IMWRC-061 378245 9679050 1181 52 RC LVG YES
IMWRC-062 378323 9679083 1179 50 RC LVG YES
IMWRC-063 378308 9679083 1179 46 RC LVG YES
IMWRC-064 376765 9678858 1186 40 RC LVG YES
IMWRC-065 376755 9678859 1186 40 RC LVG YES
IMWRC-066 376743 9678855 1185 30 RC LVG YES
IMWRC-067 376741 9678866 1185 40 RC LVG YES
IMWRC-068 376655 9678880 1183 46 RC LVG YES
IMWRC-069 376619 9678883 1182 40 RC LVG YES
IMWRC-070 376583 9678886 1181 40 RC LVG NO
IMWRC-071 376557 9678892 1180 40 RC LVG NO
IMWRC-072 376610 9678881 1182 40 RC LVG NO
IMWRC-073 376638 9678879 1182 40 RC LVG YES
Imwelo Project
Geology and Resource Estimate Report
Page 121
HOLE ID EASTING NORTHING RL TOTAL DEPTH
(m)
HOLE TYPE
COMPANY JORC PoB
IMWRC-074 378036 9679071 1185 65 RC LVG YES
IMWRC-075 378036 9679076 1184 60 RC LVG YES
IMWRC-076 378036 9679063 1185 48 RC LVG YES
IMWRC-077 378011 9679073 1185 60 RC LVG YES
IMWRC-078 378011 9679084 1185 24 RC LVG YES
IMWRC-079 378012 9679066 1184 54 RC LVG YES
IMWRC-080 377979 9679075 1185 66 RC LVG YES
IMWRC-081 377979 9679066 1185 54 RC LVG YES
IMWRC-082 377924 9679101 1183 54 RC LVG YES
IMWRC-083 377924 9679078 1184 48 RC LVG YES
IMWRC-084 377827 9679099 1182 60 RC LVG YES
IMWRC-085 377827 9679089 1182 54 RC LVG YES
IMWRC-086 377828 9679112 1181 54 RC LVG YES
IMWRC-087 377783 9679098 1181 60 RC LVG YES
IMWRC-088 377783 9679089 1182 48 RC LVG YES
IMWRC-089 377735 9679097 1181 38 RC LVG YES
IMWRC-090 377735 9679110 1180 48 RC LVG YES
IMWRC-091 377633 9679097 1181 48 RC LVG YES
IMWRC-092 377633 9679113 1180 48 RC LVG YES
IMWRC-093 377581 9679096 1181 48 RC LVG YES
IMWRC-094 377583 9679112 1180 48 RC LVG YES
IMWRC-095 377584 9679131 1179 36 RC LVG YES
IMWRC-096 377528 9679108 1180 60 RC LVG YES
IMWRC-097 377530 9679097 1181 48 RC LVG YES
IMWRC-098 377484 9679089 1181 48 RC LVG YES
IMWRC-099 377433 9679093 1180 48 RC LVG YES
IMWRC-100 377433 9679084 1181 48 RC LVG YES
IMWRC-101 377378 9679080 1181 60 RC LVG YES
IMWRC-102 377377 9679070 1181 48 RC LVG YES
IMWRC-103 377326 9679066 1182 48 RC LVG YES
IMWRC-104 377327 9679078 1181 72 RC LVG YES
IMWRC-105 377227 9679041 1183 54 RC LVG YES
IMWRC-106 377178 9679041 1183 54 RC LVG YES
IMWRC-107 377178 9679035 1183 48 RC LVG YES
IMWRC-108 377125 9679042 1183 54 RC LVG YES
IMWRC-109 377124 9679036 1184 48 RC LVG YES
Imwelo Project
Geology and Resource Estimate Report
Page 122
HOLE ID EASTING NORTHING RL TOTAL DEPTH
(m)
HOLE TYPE
COMPANY JORC PoB
IMWRC-110 377070 9679043 1183 54 RC LVG YES
IMWRC-111 377069 9679031 1184 42 RC LVG YES
IMWRC-112 377019 9679038 1184 42 RC LVG YES
IMWRC-113 377019 9679045 1183 48 RC LVG YES
IMWRC-114 376969 9679048 1184 48 RC LVG YES
IMWRC-115 376969 9679040 1184 42 RC LVG YES
IMWRC-116 376917 9679043 1184 42 RC LVG YES
IMWRC-117 376918 9679057 1184 60 RC LVG YES
IMWRC-118 376868 9679059 1184 54 RC LVG YES
IMWRC-119 376867 9679050 1184 42 RC LVG YES
IMWRC-120 376813 9679073 1183 54 RC LVG YES
IMWRC-121 376813 9679063 1184 42 RC LVG YES
IMWRC-122 376768 9679126 1182 54 RC LVG YES
IMWRC-123 376767 9679119 1182 48 RC LVG YES
IMWRC-124 376759 9679064 1183 48 RC LVG YES
IMWRC-125 376759 9679069 1183 54 RC LVG YES
IMWRC-126 376697 9679075 1182 48 RC LVG YES
IMWRC-127 376716 9679141 1181 48 RC LVG YES
IMWRC-128 376716 9679132 1182 54 RC LVG YES
IMWRC-129 376481 9679248 1173 42 RC LVG YES
IMWRC-130 376534 9679240 1174 48 RC LVG YES
IMWRC-131 376534 9679233 1174 48 RC LVG YES
IMWRC-132 376433 9679093 1174 54 RC LVG YES
IMWRC-133 376578 9679236 1174 48 RC LVG YES
IMWRC-134 376578 9679243 1174 54 RC LVG YES
IMWRC-135 376639 9679221 1177 48 RC LVG YES
IMWRC-136 376639 9679230 1176 60 RC LVG YES
IMWRC-137 376688 9679221 1178 42 RC LVG YES
IMWRC-138 376686 9679232 1177 54 RC LVG YES
IMWRC-139 376782 9679202 1179 42 RC LVG YES
IMWRC-140 376784 9679191 1179 36 RC LVG YES
IMWRC-141 376835 9679200 1180 48 RC LVG YES
IMWRC-142 376835 9679189 1180 42 RC LVG YES
IMWRC-143 376888 9679187 1180 48 RC LVG YES
IMWRC-144 376888 9679197 1180 54 RC LVG YES
IMWRC-145 376887 9679227 1179 54 RC LVG YES
Imwelo Project
Geology and Resource Estimate Report
Page 123
HOLE ID EASTING NORTHING RL TOTAL DEPTH
(m)
HOLE TYPE
COMPANY JORC PoB
IMWRC-146 376891 9679214 1180 54 RC LVG YES
IMWRC-147 376917 9678857 1188 60 RC LVG YES
IMWRC-148 376916 9678843 1188 42 RC LVG YES
IMWRC-149 377063 9678812 1191 60 RC LVG YES
IMWRC-150 377115 9678819 1191 60 RC LVG YES
IMWRC-151 377115 9678809 1191 54 RC LVG YES
IMWRC-152 377167 9678827 1191 54 RC LVG YES
IMWRC-153 377167 9678816 1192 54 RC LVG YES
IMWRC-154 376869 9678860 1187 42 RC LVG YES
IMWRC-155 378176 9678742 1191 54 RC LVG YES
IMWRC-156 378176 9678732 1191 48 RC LVG YES
IMWRC-157 378187 9678788 1190 60 RC LVG YES
IMWRC-158 377426 9678785 1191 48 RC LVG YES
IMWRC-159 377463 9678789 1191 48 RC LVG YES
IMWRC-160 377462 9678797 1190 48 RC LVG YES
IMWRC-161 377316 9678794 1192 60 RC LVG YES
IMWRC-162 377315 9678787 1192 48 RC LVG YES
IMWRC-163 377268 9678799 1192 54 RC LVG YES
IMWRC-164 377265 9678794 1192 54 RC LVG YES
IMWRC-165 377221 9678805 1192 60 RC LVG YES
IMWRC-166 376961 9678832 1189 54 RC LVG YES
IMWRC-167 377017 9678823 1190 60 RC LVG YES
IMWRC-168 377016 9678829 1190 60 RC LVG YES
IMWRC-169 378270 9678701 1189 54 RC LVG YES
IMWRC-170 378227 9678728 1190 48 RC LVG YES
IMWRC-171 378165 9678698 1192 72 RC LVG YES
IMWRC-172 378139 9678739 1192 48 RC LVG YES
IMWRC-173 378139 9678746 1192 48 RC LVG YES
IMWRC-174 378084 9678744 1192 54 RC LVG YES
IMWRC-175 378034 9678733 1193 48 RC LVG YES
IMWRC-176 378034 9678741 1193 54 RC LVG YES
IMWRC-177 377985 9678742 1194 42 RC LVG YES
IMWRC-178 377986 9678749 1194 48 RC LVG YES
IMWRC-179 378319 9678859 1186 60 RC LVG YES
IMWRC-180 378273 9678885 1186 42 RC LVG YES
IMWRC-181 378225 9678916 1187 48 RC LVG YES
Imwelo Project
Geology and Resource Estimate Report
Page 124
HOLE ID EASTING NORTHING RL TOTAL DEPTH
(m)
HOLE TYPE
COMPANY JORC PoB
IMWRC-182 378225 9678925 1187 54 RC LVG YES
IMWRC-183 378187 9678951 1188 60 RC LVG YES
IMWRC-184 378181 9678991 1187 78 RC LVG YES
IMWRC-185 378187 9678999 1187 54 RC LVG YES
IMWRC-186 378168 9678975 1188 60 RC LVG YES
IMWRC-187 378318 9678867 1186 60 RC LVG YES
IMWRC-188 378084 9678811 1192 62 RC LVG YES
IMWRC-189 378377 9678806 1187 48 RC LVG YES
IMWRC-190 378368 9678746 1189 60 RC LVG YES
IMWRC-191 378368 9678738 1188 54 RC LVG YES
IMWRC-192 378281 9678754 1189 54 RC LVG YES
IMWRC-193 378282 9678766 1188 54 RC LVG YES
IMWRC-194 377370 9678796 1191 42 RC LVG YES
IMWRC-195 377370 9678804 1190 48 RC LVG YES
IRB001 376785 9678705 1186 54 RAB Mincor NO
IRB002 376784 9678678 1186 52 RAB Mincor NO
IRB003 376784 9678659 1186 64 RAB Mincor NO
IRB004 376784 9678627 1186 72 RAB Mincor NO
IRB005 376782 9678590 1185 79 RAB Mincor NO
IRB006 376772 9678574 1185 47 RAB Mincor NO
IRB007 376759 9678547 1184 56 RAB Mincor NO
IRB008 377280 9678551 1196 74 RAB Mincor NO
IRB009 377282 9678516 1197 51 RAB Mincor NO
IRB010 377282 9678483 1198 38 RAB Mincor NO
IRB011 377277 9678424 1197 39 RAB Mincor NO
IRB012 377277 9678418 1197 45 RAB Mincor NO
IRB013 377278 9678395 1197 56 RAB Mincor NO
IRB014 377787 9678486 1198 66 RAB Mincor NO
IRB015 377797 9678456 1198 56 RAB Mincor NO
IRB016 377801 9678430 1198 39 RAB Mincor NO
IRB017 377796 9678419 1198 54 RAB Mincor NO
IRB018 377790 9678392 1197 56 RAB Mincor NO
IRB019 377939 9678489 1197 56 RAB Mincor NO
IRB020 377951 9678465 1197 57 RAB Mincor NO
IRB021 377968 9678447 1196 42 RAB Mincor NO
IRB022 378107 9678641 1193 69 RAB Mincor NO
Imwelo Project
Geology and Resource Estimate Report
Page 125
HOLE ID EASTING NORTHING RL TOTAL DEPTH
(m)
HOLE TYPE
COMPANY JORC PoB
IRB023 378109 9678614 1194 70 RAB Mincor NO
IRB024 378109 9678580 1194 33 RAB Mincor NO
IRB025 378151 9678588 1193 63 RAB Mincor NO
IRB026 378395 9678777 1188 83 RAB Mincor NO
IRB027 378398 9678737 1189 58 RAB Mincor NO
IRB028 378399 9678711 1189 52 RAB Mincor NO
IRB029 378402 9678686 1189 60 RAB Mincor NO
IRB030 378404 9678659 1189 52 RAB Mincor NO
IRB031 377239 9679130 1180 16 RAB Mincor NO
IRB033 377118 9679110 1181 15 RAB Mincor NO
IRC001 377148 9678511 1195 90 RC Mincor NO
IRC002 377238 9678504 1196 81 RC Mincor NO
IRC003 377862 9678444 1198 81 RC Mincor NO
IRC004 377915 9678484 1197 76 RC Mincor NO
IRC005 378332 9678752 1189 99 RC Mincor NO
IRC006 377077 9679505 1168 27 RC Mincor NO
IRC007 377078 9679500 1168 27 RC Mincor NO
MMRAB001 377000 9679000 1185 45 RAB Barrick NO
MMRAB002 377000 9678975 1186 31 RAB Barrick NO
MMRAB003 377000 9678955 1187 48 RAB Barrick NO
MMRAB004 377001 9678925 1187 59 RAB Barrick NO
MMRAB005 377000 9678890 1188 68 RAB Barrick NO
MMRAB006 376120 9679250 1158 47 RAB Barrick NO
MMRAB007 376120 9679225 1158 48 RAB Barrick NO
MMRAB008 376120 9679195 1159 72 RAB Barrick NO
MMRAB009 376120 9679150 1160 45 RAB Barrick NO
MMRAB010 377120 9679120 1181 53 RAB Barrick NO
MMRAB011 377110 9679085 1182 53 RAB Barrick NO
MMRAB012 377400 9678970 1184 52 RAB Barrick NO
MMRAB013 377400 9678940 1186 55 RAB Barrick NO
MMRAB014 377400 9678905 1187 53 RAB Barrick NO
MMRAB015 377400 9678870 1188 58 RAB Barrick NO
MMRAB016 378062 9679400 1170 57 RAB Barrick NO
MMRAB017 378050 9679365 1171 46 RAB Barrick NO
MMRAB018 378050 9679335 1172 43 RAB Barrick NO
MMRAB019 378050 9679305 1173 33 RAB Barrick NO
Imwelo Project
Geology and Resource Estimate Report
Page 126
HOLE ID EASTING NORTHING RL TOTAL DEPTH
(m)
HOLE TYPE
COMPANY JORC PoB
MMRAB020 378050 9679285 1174 38 RAB Barrick NO
MMRAB021 378050 9679260 1174 39 RAB Barrick NO
MMRAB022 378050 9679235 1175 57 RAB Barrick NO
MMRAB023 378050 9679200 1177 44 RAB Barrick NO
MMRAB024 378050 9679170 1179 66 RAB Barrick NO
MMRAB025 378050 9679130 1181 51 RAB Barrick NO
MMRAB026 378500 9679240 1174 45 RAB Barrick NO
MMRAB027 378500 9679215 1174 42 RAB Barrick NO
MMRAB028 378500 9679190 1175 43 RAB Barrick NO
MMRAB029 378500 9679165 1176 41 RAB Barrick NO
MMRAB030 378500 9679140 1177 53 RAB Barrick NO
MMRAB031 378500 9679110 1178 35 RAB Barrick NO
MMRAB032 378750 9679300 1173 29 RAB Barrick NO
MMRAB033 378750 9679285 1174 41 RAB Barrick NO
MMRAB034 378750 9679260 1175 37 RAB Barrick NO
MMRAB035 378750 9679240 1176 39 RAB Barrick NO
MMRAB036 378750 9679215 1177 35 RAB Barrick NO
MMRAB037 378750 9679195 1178 38 RAB Barrick NO
MMRAB038 378750 9679175 1179 39 RAB Barrick NO
MMRAB039 378750 9679150 1179 39 RAB Barrick NO
MMRAB040 378750 9679125 1180 40 RAB Barrick NO
MMRAB041 378750 9679100 1182 36 RAB Barrick NO
MMRAB120 376320 9678825 1171 51 RAB Barrick NO
MMRAB121 376320 9678795 1170 60 RAB Barrick NO
MMRAB122 376300 9678760 1169 73 RAB Barrick NO
MMRAB123 376300 9678715 1168 57 RAB Barrick NO
MMRAB124 376520 9678780 1179 87 RAB Barrick NO
MMRAB125 376520 9678725 1178 90 RAB Barrick NO
MMRAB126 376870 9679245 1178 78 RAB Barrick NO
MMRAB127 376870 9679195 1180 46 RAB Barrick NO
MMRAB128 376870 9679170 1181 57 RAB Barrick NO
MMRAB129 376870 9679080 1183 51 RAB Barrick NO
MMRAB130 376870 9679050 1184 42 RAB Barrick NO
MMRAB131 376870 9679025 1184 63 RAB Barrick NO
MMRAB132 376800 9678915 1186 69 RAB Barrick NO
MMRAB133 376800 9678870 1186 67 RAB Barrick NO
Imwelo Project
Geology and Resource Estimate Report
Page 127
HOLE ID EASTING NORTHING RL TOTAL DEPTH
(m)
HOLE TYPE
COMPANY JORC PoB
MMRAB134 376800 9678833 1187 78 RAB Barrick NO
MMRAB135 376805 9678785 1187 88 RAB Barrick NO
MMRAB136 376800 9678730 1187 84 RAB Barrick NO
MMRAB137 376800 9678685 1187 62 RAB Barrick NO
MMRAB138 376800 9678645 1186 57 RAB Barrick NO
MMRAB139 376800 9678610 1186 87 RAB Barrick NO
MMRAB140 376100 9678580 1165 37 RAB Barrick NO
MMRAB141 376100 9678558 1166 34 RAB Barrick NO
MMRAB142 376100 9678537 1166 32 RAB Barrick NO
MMRAB143 376099 9678517 1167 35 RAB Barrick NO
MMRAB144 376100 9678495 1167 42 RAB Barrick NO
MMRAB145 376100 9678469 1168 33 RAB Barrick NO
MMRAB146 376100 9678450 1168 35 RAB Barrick NO
MMRAB147 376100 9678425 1168 38 RAB Barrick NO
MMRAB148 376100 9678400 1168 34 RAB Barrick NO
MMRAB149 376099 9678375 1169 33 RAB Barrick NO
MMRAB150 376100 9678355 1169 42 RAB Barrick NO
MMRAB151 376250 9678330 1169 33 RAB Barrick NO
MMRAB152 376250 9678310 1169 30 RAB Barrick NO
MMRAB153 376253 9678290 1169 31 RAB Barrick NO
MMRAB154 376250 9678270 1169 49 RAB Barrick NO
MMRAB155 376250 9678240 1169 40 RAB Barrick NO
MMRAB156 376250 9678216 1169 30 RAB Barrick NO
MMRAB157 376250 9678199 1169 27 RAB Barrick NO
MMRAB158 376250 9678186 1169 25 RAB Barrick NO
MMRAB159 376295 9678172 1169 28 RAB Barrick NO
MMRAB160 376295 9678155 1169 29 RAB Barrick NO
MMRAB161 376295 9678138 1169 30 RAB Barrick NO
MMRAB162 376295 9678120 1169 28 RAB Barrick NO
MMRAB214 376295 9678100 1169 37 RAB Barrick NO
MMRAB215 376295 9678075 1169 36 RAB Barrick NO
MMRAB216 376285 9678050 1169 33 RAB Barrick NO
MMRAB217 376285 9678030 1169 32 RAB Barrick NO
MMRAB218 376285 9678010 1169 36 RAB Barrick NO
MMRAB219 376285 9677990 1169 53 RAB Barrick NO
MMRAB220 376285 9677960 1169 42 RAB Barrick NO
Imwelo Project
Geology and Resource Estimate Report
Page 128
HOLE ID EASTING NORTHING RL TOTAL DEPTH
(m)
HOLE TYPE
COMPANY JORC PoB
MNRAB042 378050 9679865 1155 32 RAB Barrick NO
MNRAB043 378050 9679845 1156 34 RAB Barrick NO
MNRAB044 378050 9679825 1156 34 RAB Barrick NO
MNRAB045 378050 9679805 1156 37 RAB Barrick NO
MNRAB046 378050 9679790 1157 33 RAB Barrick NO
MNRAB047 378050 9679765 1158 34 RAB Barrick NO
MNRAB048 378046 9679740 1158 27 RAB Barrick NO
MNRAB049 378050 9679700 1159 36 RAB Barrick NO
MNRAB050 378050 9679720 1159 42 RAB Barrick NO
MNRAB051 378050 9679680 1160 35 RAB Barrick NO
MNRAB052 378050 9679660 1161 27 RAB Barrick NO
MNRAB053 378050 9679640 1161 35 RAB Barrick NO
MNRAB054 378050 9679620 1162 33 RAB Barrick NO
MNRAB055 378050 9679600 1163 30 RAB Barrick NO
MNRAB056 378050 9679580 1164 31 RAB Barrick NO
MNRAB057 378050 9679560 1164 27 RAB Barrick NO
MNRAB058 378050 9679545 1165 48 RAB Barrick NO
MNRAB059 378050 9679515 1166 59 RAB Barrick NO
MNRAB060 378050 9679480 1167 65 RAB Barrick NO
MNRAB061 378050 9679440 1168 47 RAB Barrick NO
MNRAB062 378050 9679415 1169 51 RAB Barrick NO
MNRAB063 377200 9679970 1153 48 RAB Barrick NO
MNRAB064 377200 9679940 1154 41 RAB Barrick NO
MNRAB065 377200 9679915 1155 42 RAB Barrick NO
MNRAB066 377200 9679890 1155 25 RAB Barrick NO
MNRAB067 377200 9679875 1156 37 RAB Barrick NO
MNRAB068 377200 9679850 1157 33 RAB Barrick NO
MNRAB069 377205 9679825 1157 39 RAB Barrick NO
MNRAB070 377200 9679805 1158 35 RAB Barrick NO
MNRAB071 377200 9679785 1159 33 RAB Barrick NO
MNRAB072 377200 9679770 1159 36 RAB Barrick NO
MNRAB073 377200 9679750 1160 35 RAB Barrick NO
MNRAB074 377200 9679730 1160 37 RAB Barrick NO
MNRAB075 377200 9679705 1161 42 RAB Barrick NO
MNRAB076 377200 9679685 1161 44 RAB Barrick NO
MNRAB077 377160 9679660 1163 41 RAB Barrick NO
Imwelo Project
Geology and Resource Estimate Report
Page 129
HOLE ID EASTING NORTHING RL TOTAL DEPTH
(m)
HOLE TYPE
COMPANY JORC PoB
MNRAB078 377156 9679635 1164 39 RAB Barrick NO
MNRAB079 377160 9679610 1164 44 RAB Barrick NO
MNRAB080 377160 9679585 1165 54 RAB Barrick NO
MNRAB081 377160 9679555 1166 45 RAB Barrick NO
MNRAB082 377160 9679525 1167 39 RAB Barrick NO
MNRAB083 377160 9679500 1168 51 RAB Barrick NO
MNRAB084 377160 9679470 1169 47 RAB Barrick NO
MNRAB085 377160 9679440 1170 48 RAB Barrick NO
MNRAB086 377160 9679410 1171 43 RAB Barrick NO
MNRAB087 377200 9679855 1156 39 RAB Barrick NO
MNRAB088 377180 9679855 1157 25 RAB Barrick NO
MNRAB089 377165 9679870 1157 36 RAB Barrick NO
MNRAB090 377145 9679870 1157 35 RAB Barrick NO
MNRAB091 377045 9679895 1158 41 RAB Barrick NO
MNRAB092 377015 9679893 1158 43 RAB Barrick NO
MNRAB093 376985 9679895 1159 36 RAB Barrick NO
MNRAB094 376380 9679960 1152 33 RAB Barrick NO
MNRAB095 376420 9680020 1152 11 RAB Barrick NO
MNRAB096 376420 9680005 1152 42 RAB Barrick NO
MNRAB097 376420 9679980 1153 48 RAB Barrick NO
MNRAB098 376380 9679940 1152 42 RAB Barrick NO
MNRAB099 376350 9679915 1152 45 RAB Barrick NO
MNRAB100 376350 9679890 1153 37 RAB Barrick NO
MNRAB101 376350 9679865 1153 31 RAB Barrick NO
MNRAB102 376350 9679845 1153 36 RAB Barrick NO
MNRAB103 376350 9679825 1154 34 RAB Barrick NO
MNRAB104 376350 9679805 1154 36 RAB Barrick NO
MNRAB105 376350 9679780 1155 42 RAB Barrick NO
MNRAB106 376350 9679755 1155 40 RAB Barrick NO
MNRAB107 376350 9679730 1156 44 RAB Barrick NO
MNRAB108 376350 9679700 1156 48 RAB Barrick NO
MNRAB109 376350 9679670 1157 48 RAB Barrick NO
MNRAB110 376350 9679640 1157 51 RAB Barrick NO
MNRAB111 376350 9679610 1158 45 RAB Barrick NO
MNRAB112 376350 9679585 1158 50 RAB Barrick NO
MNRAB113 376350 9679555 1159 45 RAB Barrick NO
Imwelo Project
Geology and Resource Estimate Report
Page 130
HOLE ID EASTING NORTHING RL TOTAL DEPTH
(m)
HOLE TYPE
COMPANY JORC PoB
MNRAB114 376350 9679530 1159 52 RAB Barrick NO
MNRAB115 376350 9679500 1160 62 RAB Barrick NO
MNRAB116 376350 9679465 1162 71 RAB Barrick NO
MNRAB117 376350 9679425 1163 72 RAB Barrick NO
MNRAB118 376350 9679385 1164 76 RAB Barrick NO
MNRAB119 376350 9679340 1165 55 RAB Barrick NO
MNRAB163 377670 9679950 1153 57 RAB Barrick NO
MNRAB164 377670 9679915 1154 48 RAB Barrick NO
MNRAB165 377670 9679885 1155 44 RAB Barrick NO
MNRAB166 377670 9679855 1155 59 RAB Barrick NO
MNRAB167 377680 9679820 1156 41 RAB Barrick NO
MNRAB168 377660 9679795 1157 39 RAB Barrick NO
MNRAB169 377660 9679770 1157 33 RAB Barrick NO
MNRAB170 377660 9679750 1158 34 RAB Barrick NO
MNRAB171 377660 9679730 1159 37 RAB Barrick NO
MNRAB172 377660 9679710 1159 38 RAB Barrick NO
MNRAB173 377660 9679685 1160 39 RAB Barrick NO
MNRAB174 377660 9679660 1161 41 RAB Barrick NO
MNRAB175 377665 9679635 1162 51 RAB Barrick NO
MNRAB176 377660 9679605 1163 68 RAB Barrick NO
MNRAB177 377660 9679565 1164 53 RAB Barrick NO
MNRAB178 377660 9679530 1165 66 RAB Barrick NO
MNRAB179 377660 9679490 1166 45 RAB Barrick NO
MNRAB180 377660 9679465 1167 45 RAB Barrick NO
MNRAB181 377660 9679435 1168 48 RAB Barrick NO
MNRAB182 376750 9680180 1152 29 RAB Barrick NO
MNRAB183 376750 9680160 1152 25 RAB Barrick NO
MNRAB184 376750 9680135 1153 33 RAB Barrick NO
MNRAB185 376750 9680110 1154 24 RAB Barrick NO
MNRAB186 376750 9680090 1154 27 RAB Barrick NO
MNRAB187 376750 9680070 1155 42 RAB Barrick NO
MNRAB188 376750 9680040 1155 38 RAB Barrick NO
MNRAB189 376745 9680010 1156 41 RAB Barrick NO
MNRAB190 376750 9679985 1157 41 RAB Barrick NO
MNRAB191 376750 9679960 1157 40 RAB Barrick NO
MNRAB192 376750 9679935 1158 38 RAB Barrick NO
Imwelo Project
Geology and Resource Estimate Report
Page 131
HOLE ID EASTING NORTHING RL TOTAL DEPTH
(m)
HOLE TYPE
COMPANY JORC PoB
MNRAB193 376750 9679910 1159 45 RAB Barrick NO
MNRAB194 376750 9679880 1160 46 RAB Barrick NO
MNRAB195 376750 9679850 1160 42 RAB Barrick NO
MNRAB196 376750 9679825 1161 51 RAB Barrick NO
MNRAB197 376750 9679795 1162 52 RAB Barrick NO
MNRAB198 376750 9679765 1163 40 RAB Barrick NO
MNRAB199 376755 9679740 1164 38 RAB Barrick NO
MNRAB200 376750 9679715 1164 40 RAB Barrick NO
MNRAB201 376750 9679690 1165 36 RAB Barrick NO
MNRAB202 376750 9679665 1166 45 RAB Barrick NO
MNRAB203 376750 9679640 1166 38 RAB Barrick NO
MNRAB204 376750 9679615 1166 45 RAB Barrick NO
MNRAB205 376750 9679585 1167 41 RAB Barrick NO
MNRAB206 376750 9679560 1168 52 RAB Barrick NO
MNRAB207 376750 9679530 1168 48 RAB Barrick NO
MNRAB208 376750 9679500 1169 51 RAB Barrick NO
MNRAB209 376750 9679470 1169 43 RAB Barrick NO
MNRAB210 376750 9679445 1170 47 RAB Barrick NO
MNRAB211 376750 9679415 1171 52 RAB Barrick NO
MNRAB212 376750 9679385 1172 61 RAB Barrick NO
MNRAB213 376750 9679350 1173 80 RAB Barrick NO