STAGE MILLION OUNCES ASX: PXG, PXGOA For personal use only · 2013-09-11 · Page 2 of 51 11th...

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ASX: PXG, PXGOA

Phoenix Gold Ltd

ABN 55 140 269 316

73 Dugan Street

PO Box 100

Kalgoorlie WA 6430

Phone +61 8 9021 2704

Fax +61 8 9021 3393

www.phoenixgold.com.au

[email protected]

Dated: 11th September 2013

CASTLE HILL STAGE 1 RESOURCE GROWS

BEYOND 1.1 MILLION OUNCES

HIGHLIGHTS

Independent geological review and Resource audit completed on Castle Hill Stage 1

Stage 1 Resource increases to 21.8Mt at 1.6g/t Au for 1,137,000 ounces, up 75%

Importantly, over 70% of metal content now in the higher confidence Indicated Resource

category totalling 14.7Mt at 1.7g/t Au for 807,000 ounces

Total Castle Hill Resource now at 30.9Mt at 1.6g/t Au for 1,616,000 ounces, up 37%

Latest metallurgical tests yield recoveries of 92% to 98% with high gravity component

Updated Resource an integral part of the independent open pit reserve study for the DFS

scheduled for December 2013 completion

Independent review of Castle Hill Stage 2 and Red Dam expected in coming weeks

Diamond and extensional RC drilling continues at Castle Hill and Red Dam

Total Mineral Resources for Phoenix now 52.7Mt at 1.7g/t Au for 2,956,000 ounces

Figure 1: Castle Hill – regional geology and project stage locations

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Overview

Phoenix Gold Limited (ASX: PXG) (“Phoenix” or the “Company”) is pleased to announce further positive

developments at its flagship Castle Hill gold project (Figures 1 and 2) with a 75% increase in Mineral

Resources for Stage 1 of the project.

The updated September 2013 Mineral Resource for Stage 1 contains 21.79 million tonnes at 1.6g/t Au for

1,137,000 ounces (at a 0.8g/t lower cut-off grade) (see Tables 1-5, Figures 3-8 and Appendices 1-2). This

represents a 75% increase in contained metal from the Mineral Resource compared to the previous

estimate announced to the ASX in December 2012. Over 70% of contained metal is now in the higher

confidence Indicated Resource category.

The combined Resource for Castle Hill now comprises 30.95 million tonnes at 1.6 g/t Au for 1,616,000

ounces (Table 2) representing a 37% increase in contained metal with 52% in the Measured and Indicated

Resource categories. The Resource has a maximum depth from surface of 190 metres.

The project is located on the highly prospective Kunanalling shear zone in the heart of the Western

Australian Goldfields (Figure 2) less than 50 km from the regional mining centre of Kalgoorlie.

Figure 2: Phoenix tenements, project location and Total Resource summary

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“Further validation of the size and quality of the Castle Hill gold deposit comes from this independently

verified resource update for Stage 1. It clearly demonstrates the robust nature of the mineralisation that

is conducive to large scale low cost open cut mining from surface, has excellent metallurgy and is in close

proximity to the major mining centre of Kalgoorlie-Boulder,” Managing Director Jon Price said.

“As we continue to grow the resource along strike and at depth of Stage 1, Stage 2 and beyond, the

updated geological model will be the subject of an independent open pit reserve study. This will deliver an

updated reserve position, mining schedule and development plan as part of the definitive feasibility study

on track for completion in December 2013,” Mr Price said.

Castle Hill Project

Mineral Resource Estimate, September 2013*

STAGE 1 TOTAL CASTLE HILL

Mt Au (g/t) Au Oz Mt Au (g/t) Au Oz

Measured Resource - - - 0.18 3.4 20,000

Indicated Resource 14.67 1.7 807,000 14.83 1.7 822,000

Inferred Resource 7.11 1.4 330,000 15.94 1.5 774,000

TOTAL RESOURCE 21.79 1.6 1,137,000 30.95 1.6 1,616,000

*Note: - Castle Hill Stage 1 included the Picante and Ridgeback deposits in the Dec 2012 Mineral Resource

statement and these have been omitted from the Stage 1 column of the above table. These Mineral

Resource estimates have not been compiled or audited by Cube Consulting. Cube Consulting has only

audited and compiled those Mineral Resource estimates listed in the Stage 1 section of the above table.

Those Mineral Resource estimates included in the Total Castle Hill section are those estimates relating to

Picante, Ridgeback and Castle Hill Stage 2 and reported in the December 2012 statement.

Some errors may occur due to rounding.

The Mineral Resource estimate for Stage 1 has been completed in accordance with the guidelines of the

JORC Code (2012 edition) while the remaining December 2012 resources are in accordance with JORC

(2004 edition).

Phoenix’s geological model was audited by independent specialist consultant Cube Consulting who

estimated the Mineral Resource for Castle Hill Stage 1, as described in the JORC (2012 edition) “Table 1

Checklist of Assessment and Reporting Criteria” accompanying this announcement. The September 2013

Stage 1 Mineral Resource update is a result of Reverse Circulation (”RC”) and Diamond Drilling (“DD”)

conducted along strike and at depth on a 50m (N-S) by 25m (E-W) grid pattern outside the December

2012 Resource envelope.

A summary of the information used in the September 2013 Castle Hill Stage 1 Resource estimate is as

follows:

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Geology and Geological Interpretation

The Castle Hill Stage 1 Mineral Resource comprised eight deposits from south to north: Wadi, Mick Adam,

Lady Alice, Outridge, Kiora, Wookie, Picante and Ridgeback. All of the deposits are structurally linked, with

Wadi and Mick Adam being fault offsets of a single mineralised system. In the December 2012 Mineral

Resource statement the resource estimates for the deposits were combined. In this update Picante and

Ridgeback have been excluded from the Castle Hill Stage 1 Mineral Resource estimate as these deposits

have not been included in the work completed by Cube Consulting.

The principal lithology to host gold mineralisation at Castle Hill Stage 1 is the Kintore Tonalite a large

intrusive granitoid of granodioritic composition. The tonalite intrudes a sequence of basaltic and

ultramafic rocks to the east and west. The elliptical Kintore Tonalite attenuates to the south to form very

long narrow (80m wide in plan) intrusion which hosts the Mick Adam and Wadi gold mineralisation and a

dyke swarm to the south-east which hosts the Outridge and Kiora gold mineralisation. Gold mineralisation

is also hosted along the eastern margin of the main body of the tonalite at Wookie and Picante. Gold

mineralisation in this area is hosted within the tonalite and within the flanking mafic/ultramafic sequence.

The Lady Alice gold mineralisation is associated with a fault array hosted entirely within the bulk of the

tonalite intrusive. The Lady Alice fault array coincides with the boundary between de-magnetised tonalite

to the east and magnetised tonalite to the west.

Vertical vein arrays and kinematic indicators at Mick Adam and Kiora show the primary deformation at

Castle Hill was extension with an east block down (sinistral normal) sense of movement, suggesting

emplacement of the tonalite coincided with the beginning of an extensional doming event and the start of

basin formation. The tonalite has therefore been interpreted as being emplaced in a relay zone between

two fault tips. NE trending discrete faults are interpreted to be hard-linked transfer structures (perhaps

zones of inherited weakness) which form jogs and hence local areas of dilation in the normal faults. Mick

Adam and Wadi are separated by a NE trending fault which has generated an offset of 250m across strike.

Both deposits dip shallowly to the east. NW trending shear zones which were re-activated during sinistral

transpression accommodate much of the compressional strain and act to preserve the extensional

domain.

Primary mineralisation within the tonalite at Mick Adam and Wadi occurs as discrete narrow west dipping

quartz veins containing moderately to extremely high gold grades and as fine disseminated gold within

the tonalite groundmass. Visible gold has been observed in drill core in both quartz veins and as blebs in

the tonalite groundmass. The disseminated gold is commonly associated with minor blebs of pyrite,

arsenopyrite and rare chalcopyrite. High gold grade veins are typically 10 to 20cm thick and commonly

occur in extensional arrays of four to five veins generating high grade zones up to 10m in horizontal

thickness. Extensional veins are more common along the eastern margin of the tonalite. At the southern

end of Mick Adam extensional vein arrays have been intersected in the footwall of the mafic unit proximal

to the tonalite contact.

Extensional shear zone arrays are also the host of the gold mineralisation at Kiora. Sheeted quartz veins

are interpreted as the extensional veins propagating out from the shears. The veins within Kiora are

hosted within the tonalite along the contact with ultramafic rocks and have been interpreted as having

undergone supergene enrichment. Gold mineralisation at Kiora is also hosted within fault fill veins formed

by movement on a shallowly dipping normal fault. Primary mineralisation within the basalt which forms

the immediate hangingwall of the Mick Adam mineralisation is characteristically associated with shearing,

extensional veining and biotite alteration. This mineralisation has been called Outridge and comprises a

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number of zones which pinch and swell along strike and down dip. Outridge mineralisation has been

interpreted as steeply dipping to the west.

RC Drilling Techniques - The Mick Adam Mineral Resource has the dimensions of 1290m (north) by 100m

(east) and has been drilled to an average vertical depth of 275m. The Wadi Mineral Resource has the

dimensions of 580m (north) by 50m (east) and has been drilled to a depth of 150m.

Drilling completed to date in 2013 comprised 378 RC percussion holes for 28647 metres and 32 diamond

drill holes for 6344 metres.

RC drilling was completed by Drilling Australia Pty Ltd. All rigs used a face sample hammer. Drilling

comprised infill to required grid, extension to the north, south and at depth in all mineralised zones.

Diamond Drilling Techniques - Diamond drilling was completed by Westralian Diamond Drillers with holes

completed at NQ, HQ or PQ diameter. All diamond holes and tails were oriented.

Sampling and Sub-Sampling Techniques - Samples from the RC drilling were collected over 1m intervals

and reduced via a 1:8 cone splitter to 2 to 3Kg in weight. 99.5% of samples reported to the splitting device

dry. Wet samples were split through a cone splitter which was washed and dried after each sample.

Field quality control procedures for RC percussion drilling involved assay standards, blanks and collection

of a field duplicate. Certified standard reference material was inserted in each holes sample stream every

30m starting at 15m. Blank material was inserted into each holes sample stream every 30m starting from

30m down the hole. Field duplicates were collected every 30m down the hole.

RC percussion samples were collected into pre-numbered calico bags at the rig by drilling personnel. A

geologist or field assistant cross checked the bag number against the metre interval before recording

sample number in triplicate in a sample submission book. Some randomisation of sample numbers was

conducted.

Diamond core was cut to half core for NQ diameter or one quarter core for HQ and PQ prior to sampling

with sample lengths determined by geology, maximum length of a sample was 1.2m. The right hand side

of the core (looking down the hole) was selected for sample submission. HQ and PQ core was also

submitted for metallurgical testwork, using ¼ core from selected mineralised zones.

Sample Analysis Method - All assays generated from the 2013 drilling campaign were submitted to SGS

Australia Pty Ltd or to Bureau Veritas Kalgoorlie. Assays at SGS were determined by 30g Fire Assay with

AAS finish, assay determination from Bureau Veritas was by 40g Fire Assay with AAS finish. Multi-element

analysis was conducted on 1% of the samples. Multi-element analysis was completed using four acid

digest with an ICP-MS finish. The multi-element suite was designed by staff from the University of

Western Australia to assist in quantifying endothermic and exothermic alteration associated with the gold

mineralisation.

Field quality control procedures for diamond core involved insertion of a certified assay standard after the

11th sample and there after every 37th sample. Blank material was after the 26th sample and after every

37th sample thereafter.

Diamond core was cut to the length designated by the geologist, with the sample then collected in a pre-

numbered calico bag; sample number and down hole interval written into a sample submission book in

triplicate. One copy of submission was delivered to the laboratory, one copy to Phoenix Gold Ltd database

administrator and one copy to record. The laboratory would physically count each sample per submission

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and report reconciliation against the submission. Submission error was 0.06% for the 2013 RC and

diamond program.

Failure of an assay standard was set at +/- two standard deviations beyond the expected value of the

standard. 0.5% of standards failed this test, assay batches containing a failed standard were re-assayed,

including new standards and blanks.

Both laboratories completed internal standard assay regimes and re-assayed every 20th sample. Sample

weights were recorded by the laboratories. One sample batch was submitted to an umpire laboratory

(either Kalgoorlie or Perth) for independent analysis every month. 100 randomly selected samples which

had returned an assay >0.3ppm Au was re-analysed using the Leachwell analytical technique every month.

RC sample chips and diamond core was geologically and geotechnically logged to a level of detail to

support an appropriate Mineral Resource estimate. Logging was both qualitative and quantitative; full

descriptions of lithologies, alteration, and oxidation were noted on log sheets as well as percentage

estimates of alteration minerals present, veining, and/or an sulphide minerals present. Magnetic

susceptibility was also collected from the RC percussion and diamond drilling.

Downhole Survey - All drillhole collars were surveyed using a DGPS (+/- 0.2m) by Minecomp Pty Ltd,

qualified surveyors; downhole survey was completed on all RC percussion holes using an open hole gyro

compass using a mix of true-north and magnetic north seeking tools. Diamond tails were downhole

surveyed at 30m intervals using a digital electronic magnetic survey tool. All drilling was planned and

surveyed using MGA94_Zone51 grid.

Density measurements were collected from 11 RC percussion holes using a downhole survey tool by

ABIMS Pty Ltd. Measurements were collected at 0.1m intervals, then composited across lithologies and

oxidation states. Holes were selected to represent each lithology likely to be included in the Mineral

Resource estimate. Select samples were collected from the diamond core and submitted to SGS

Laboratories for density determination using the water displacement method. These measurements were

used to reference the downhole measurements.

The estimation update was completed by specialist consultants from Cube Consulting Pty Ltd using Surpac

software.

Estimation Methodology - Oxidation boundaries were wireframed and included in the final model for

designation of material type and used as a guide for separation of supergene mineralisation from primary

mineralisation.

Mineralised zones were digitised on to cross-section using 3D strings and then wireframed to generate

solids. Geology was used to separate the different mineralised zones, within these zones a threshold

grade of 0.3g/t Au was used to separate mineralised rock from un-mineralised rock. End sections were

projected half of the average drill hole spacing or to 25m if the drill hole spacing was greater. Projection

down dip was confined to 25m to 37.5m below the deepest drill holes dependant on depth of drilling on

section behind and in front. Sub-domains were generated to represent each material type across each of

the primary mineralised zones. A total of 23 mineralised solids were interpreted for Castle Hill Stage 1.

Composite gold grade distributions within these zones assessed to determine if a high grade cut should be

applied. The top-cut levels were determined using a combination of top-cut analysis tools (grade

histograms, log probability plots and CVs). Top-cuts were reviewed and applied on a domain basis. Sample

data was composited to either one metre or two metre downhole length using a best fit-method. There

were consequently no residuals. Intervals with no assays were excluded from the compositing routine.

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Grade interpolation was completed using a combination of multiple indicator kriging and ordinary kriging

in all mineralised zones and sub-domains. A single block model to encompass all mineralised zones was

constructed using a 10m (east) by 10m (north) by 2.5m (elevation) parent block size. Sub-celling was used

for domain volume resolution. All estimation was completed at the parent cell scale. Search ellipse

geometry and size was determined from experimental variograms generated for each mineralised zone

and sub-domain. Hard boundaries were applied between all estimation domains. The validation of the

block model shows good correlation of the input data to the estimated gold grades.

Criteria Used for Classification - The Castle Hill Stage 1 gold mineralisation has demonstrated sufficient

geological and gold grade continuity to support the definition of a Mineral Resource and classification

under the JORC Code (2012 edition). Drill hole spacing and search volume were used to determine

Mineral Resource classification. Blocks have been classified as Indicated or Inferred essentially based on

data spacing and using a combination of search volume and number of data used for the estimation.

Indicated Mineral Resources are defined nominally on 50 x 25m to 25m x 25m spaced drilling. Inferred

Mineral Resources are defined by data density greater than 50m x 25m spaced drilling and confidence

that the continuity of geology and mineralisation can be extended along strike and at depth.

The input drill data is comprehensive in its coverage of the gold mineralisation at Castle Hill Stage 1 and

does not favour or misrepresent this mineralisation. Knowledge of the geological controls on

mineralisation has been used to develop the overall Mineral Resource estimate.

Cube Consulting carried out a site visit in February 2013 and assisted in the design of the infill program.

Brian Fitzpatrick (Senior Consulting Geologist) who is acting as Competent Person inspected the deposit

area, and sampling from the RC percussion rigs. A second visit took place to view metallurgical PQ and HQ

core at the core processing facility.

It has been assumed that the deposit would be mined using open cast methods; this is supported by

mining studies conducted on the previous Mineral Resource estimates.

For further information please contact:

Investors Media Jon Price, Managing Director - PXG Fiona Meiklejohn (08) 90 212 704 FTI Consulting [email protected] (08) 9485 8888 or 0415 660 076

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Figure 3: Plan view of Castle Hill stage 1, showing drilling locations and section lines

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Figure 4: Castle Hill Stage 1 Cross section 1 - 1’ (See Figure 3).


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ASX: PXG, PXGOA

Phoenix Gold Ltd

ABN 55 140 269 316

73 Dugan Street

PO Box 100

Kalgoorlie WA 6430

Phone +61 8 9021 2704

Fax +61 8 9021 3393


[email protected]


About Phoenix

Phoenix Gold Ltd is an emerging Australian exploration and development company with an extensive land

holding on the Zuleika and Kunanalling shear zones northwest of Kalgoorlie in Western Australia, home to

some of Australia’s richest gold deposits.

Kalgoorlie-based Phoenix is aiming to significantly grow its JORC-classified resources, complete a definitive

feasibility study on core projects and to self- fund aggressive exploration through the development of

advanced mining projects that can deliver cash flow in the short term.

The 100% owned Castle Hill gold project is emerging as a flagship asset with the potential to become a

multi-million ounce gold mine1 with excellent metallurgy and close to all major infrastructure. Castle Hill is

one of many well-endowed gold systems within Phoenix’s portfolio.

With a balanced mix of exploration (new discoveries and extensions) and development of a sustainable

production profile, Phoenix aims to grow a significant gold company for the benefit of all stakeholders.

Table 1: Phoenix Gold – Summary of Mineral Resources

Competent Persons Statement

The information in this report that relates to Exploration Results is based on information compiled by

Lyndal Money and Ian Copeland who are employees of the company and fairly represent this information.

Ms Money is a Member of the Australasian Institute of Mining and Metallurgy. Mr Copeland is a Member

of the Australasian Institute of Mining and Metallurgy. Ms Money and Mr Copeland have sufficient

experience of relevance to the styles of mineralisation and the types of deposits under consideration, and

the activities undertaken, to qualify as Competent Persons as defined in the 2012 Edition of the Joint Ore

Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources

and Ore Reserves. Ms Money and Mr Copeland consent to inclusion in this report of the matters based on

information in the form and context in which it appears.

The information in this report that relates to Mineral Resource Estimation for Castle Hill Stage 1 is based

on information compiled by Mr Brian Fitzpatrick, Senior Consulting Geologist for Cube Consulting. Mr

Fitzpatrick is a Member of the Australasian Institute of Mining and Metallurgy and is also an accredited

Chartered Professional Geologist. Mr Fitzpatrick has sufficient experience which is relevant to the style of

mineralisation and type of deposit under consideration to qualify as a Competent Person as defined in the

2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral resources and Ore

Reserves” (JORC Code). Mr Fitzpatrick consents to the inclusion in this report of the matters based on

their information in the form and context in which it appears.

Mt Au (g/t) Au Oz Mt Au(g/t) Au oz Mt Au (g/t) Au Oz Mt Au (g/t) Au Oz

Castle Hill 0.18 3.4 20,000 14.83 1.7 822,000 15.94 1.5 774,000 30.95 1.6 1,616,000

Broads Dam 2.37 2.2 168,000 3.44 2.2 242,000 5.81 2.2 409,000

Kunanalling 0.58 2.4 45,000 1.34 1.6 70,000 4.40 1.7 241,000 6.32 1.8 356,000

Ora Banda 3.11 1.9 187,000 3.53 1.9 210,000 6.64 1.9 397,000

Carbine 1.97 1.6 103,000 0.09 1.8 5,000 2.06 1.6 108,000

Zuleika North 0.51 2.5 41,000 0.27 2.5 22,000 0.78 2.5 63,000

Stockpiles 0.14 1.5 7,000 0.14 1.5 7,000

Total 0.76 2.6 65,000 24.27 1.8 1,397,000 27.66 1.7 1,494,000 52.69 1.7 2,956,000

Project

Measured Mineral

Resource

Indicated Mineral

Resource

Inferred Mineral

ResourceTotal Mineral Resource

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The information in this report that relates to Mineral Resource Estimation for other resources included in

the Total Castle Hill resource estimate is based on information compiled by Mr Ian Copeland, who is an

employee of the company. Mr Copeland is a Member of the Australasian Institute of Mining and

Metallurgy and Australian Institute of Geoscience. Mr Copeland has sufficient experience which is

relevant to the style of mineralisation and type of deposit under consideration to qualify as a Competent

Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results,

Mineral resources and Ore Reserves” (JORC Code). Mr Copeland consents to the inclusion in this report of

the matters based on their information in the form and context in which it appears.

Appendix 1 The following section is provided to ensure compliance with the JORC (2012) requirements for the

reporting of the Mineral Resource estimates for the Castle Hill Stage 1 deposit.

Section 1 Sampling Techniques and Data

Criteria JORC Code explanation Commentary

Sampling

techniques

Nature and quality of sampling (eg 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 (eg ‘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 (eg submarine nodules) may warrant disclosure of detailed information.

Diamond Drill Core and RC chips are the two main sample types. Drilling has been completed on nominal 50m x 25m grid to 50m x 50m grid, with some infill down to 12.5m x 12.5m. Holes were generally angled at -60

0 toward 040

0 in

the main deposit areas (Mick Adam, Wadi, Lady Alice and Wookie) with holes at Outridge/Kiora angled toward 220

0 at -60

0 to optimally intersect the

gold mineralisation. A total of 378 RC percussion holes for 28,647m and 32 diamond holes for 6,344 metres were completed. _______________________________

Castle Hill is defined by RC percussion and diamond drilling only. Drill hole locations were surveyed by a qualified surveyor and downhole measurements collected by a downhole survey contractor. Instruments used by both surveying contractors were calibrated to industry specifications. _______________________________

Diamond core was geologically logged and sampled to lithological contacts or changes in the nature of mineralisation. Maximum samples length of 1.2m with a minimum sample length of 0.3m. NQ core was half core sampled, HQ core was quarter core sampled.

o Metallurgical samples were assayed Fe, S, Ag, As, Cu, Ni, Sb, C by acid digest with ICP/MS and Au by 40g fire assay.

o Geotechnical holes are yet to

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be assayed, but will be assayed by 40g fire assay.

o Resource Definition holes were assayed by 40g fire assay.

RC chips sampled at 1m downhole intervals from surface. This is riffle or cone split at the rig to produce a sample of approximately 3kg which was pulverised for a 40g fire assay.

Selected holes surveyed using downhole gamma for density measurements. These were checked by selected samples being measured for SG by the water displacement method.

Magnetic Susceptibility measurements taken.

Drilling

techniques

Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg 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, generally angled at -60° towards 040° or 220°

RC drilling used a 5.5” face sampling hammer.

RC drilling used 3 rigs with minimum specifications of 550CFM@350PSI with an 1150CFM@350PSI booster. All rigs rated to a deeper depth than drilled.

Full diamond drilling, generally angled at -60° towards 040° or 220° using HQ sized core. One hole was drilled using PQ core.

Diamond tails angled at -60° towards 040° or 220° using NQ sized core.

Diamond tail lengths varied between 80 and 300m (mean 159m).

13 Diamond holes drilled from surface 80 to 240m down hole (mean 153m)

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 samples were split using a 1:8 cone splitter.

o Residue recovery was visually estimated and documented.

o No biases in sample recovery were observed.

o Samples were documented as being dry, moist or wet – in excess of 99.5% samples recovered were dry.

Diamond drill core loss (in metres) was measured in the core trays and core loss and recovery (%) recorded in geotechnical records.

Most core loss associated with drilling through highly weathered regolith.

In general core recoveries exceeded 95% so analysis of diamond tails recovery has not been conducted.

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Logging Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.

Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.

The total length and percentage of the relevant intersections logged.

Diamond core and RC chips have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation.

All drillholes were logged in full.

Logging has been conducted both qualitatively and quantitatively – full description of lithologies, alteration and comments are noted, as well as percentage estimates on alteration, veining and sulphide amount.

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.

Diamond Core was half core sampled. The core was cut using an automatic core saw, to divide the mineralisation consistently down the hole, the right hand side of the core (looking down the hole) was selected to provide an unbiased sample.

5 Diamond holes were assayed from quarter core. The half core was retained for metallurgical testwork.

The whole length of core was sampled.

A minimum sample size of 0.3m and a maximum size of 1.2m, separated on lithology.

o Certified Standard reference material was inserted after the 11

th sample and then after

every 37 samples. o Blank material inserted after

26 samples and then after every 37 samples.

o Blank material was inserted after samples containing visible gold.

o Samples containing visible gold were identified for separate screen fire assay.

RC percussion samples were collected on 1m intervals. A subsample of 2-4kg was separated using a 1:8 cone splitter. Moisture from the samples was recorded.

o Certified Standard reference material was inserted every 30m starting from 15m.

o Blank and field duplicate samples were inserted every 30m starting from 30m.

Sample size of 2-3 kg is appropriate for grain size of material.

Quality of The nature, quality and appropriateness of the Assay laboratories in Kalgoorlie and

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assay data

and

laboratory

tests

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 (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.

Perth were used for assaying.

Gold assays were determined using a fire assay with 40g charge and AAS finish. Other elements were assayed using an acid digest with ICP-MS finish.

Laboratories used completed internal standard regimes and re-assayed every 20

th sample.

Umpire checks were undertaken by different laboratory in Kalgoorlie and or Perth.

QAQC for the programme showed acceptable performance.

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.

RC samples are collected into pre-numbered bags at the rig.

A geologist or field assistant cross-checked the bag numbers against the meter interval before recording them in triplicate into a sample submission book.

Some randomisation of sample numbers was conducted.

Diamond core was cut to lengths documented by the geologist who logged the core.

Data was transferred to excel spreadsheets utilising data validation to improve data quality, prior to loading into Datashed. Validation against assay, lithological and drill meta-data is completed by the software prior to consolidation within the main database.

Primary field data is collated into a file for each drill programme and is stored in the Kalgoorlie office. Electronic data is stored in Datashed, where it can only be changed by a database administrator.

Intercepts have been calculated using Datashed. Selected intercepts have been verified by manual calculation.

The primary returned assay result was used for reporting of all intersections and in mineral resource estimation, no averaging with field duplicates or laboratory repeats was undertaken so as not to introduce volume bias.

Database was viewed by Cube Consulting, who went through sample collection, submission, and entry protocols as part of the resource estimation process.

Historic holes were twinned with RC percussion infill holes. Results confirmed the initial intersection

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mineralisation and geology.

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.

Collar locations were routinely surveyed by Minecomp using a differential GPS with an accuracy of ± 2cm. DGPS was referenced back to state survey mark (SSM) network. Elevation values were in AHD RL, no additions or subtractions were made to this measurement.

All holes were routinely downhole surveyed using open hole gyro methods using a mix of true north-seeking and non-true north seeking surveys.

Diamond tails have been surveyed approximately 30m using a digital electronic magnetic survey tool.

Drilling was planned and executed using the MGA94 zone 51 grid.

Visual inspection in GIS programmes did not identify any inaccuracies with the spatial position of the drillholes.

Topography surveyed in immediate drilling area by qualified surveyor using a Trimble R8 RTK GPS, this was meshed with 2012 30cm Lidar contours.

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.

Drill Data spacing appropriate to the resource infill aim of the drill programme. The majority of drilling is 50m x 25m, which reduces in areas to approximately 25m x 25m.

This spacing is adequate to determine the geological and grade continuity for reporting of Mineral Resources.

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.

Drilling orientated normal to the dip and plunge of the major mineralisation bodies. The different orientations were selected to target different portions of the mineralisation.

Sample

security

The measures taken to ensure sample security.

Samples were collected and documented each weekday. Samples submitted on the day they were collected.

Chain of custody supported by the sample logbook and sample reconciliation reports from the laboratories.

Audits or

reviews

The results of any audits or reviews of sampling techniques and data.

An internal review of diamond procedures was conducted prior to commencing drilling.

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Section 2 Reporting of Exploration Results


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.

Tenements P16/2429, M16/24, M16/40, M16/152, M16/189, M16/195and P16/2426 are held 100% by Hayes Mining Pty Ltd.

Royalty payable on all tenements.

P16/2426 and P16/2429 are in application for conversion to Mining Lease.

Mining Leases have 21 year life renewable for a further 21 years on a continuing basis.

No native title claims are current over these tenements.

Exploration

done by other

parties

Acknowledgment and appraisal of exploration by other parties.

Explorations has been conducted by a number of parties previously, including Electrum Resources NL (1985-1989), Castle Hill Resources NL (1989-1996), Goldfields Exploration Ltd (2001) and Cazaly Resources Ltd (2004-2008)

The historical data & database has been appraised and is of acceptable quality.

Geology Deposit type, geological setting and style of mineralisation.

The Castle Hill Stage 1 resource comprised eight deposits from south to north: Wadi, Mick Adam, Lady Alice, Outridge, Kiora, Wookie, Picante and Ridgeback. All of the deposits are structurally linked, with Wadi and Mick Adam being fault offsets of a single mineralised system. In the December 2012 resource statement the resource estimates for the seven deposits were combined. In this update Picante and Ridgeback have been excluded from the Castle Hill Stage 1 resource estimate as these deposits have not been included in the work completed by Cube Consulting.

The principal lithology to host gold mineralisation at Castle Hill Stage 1 is the Kintore Tonalite a large intrusive granitoid of granodioritic composition. The tonalite intrudes a sequence of basaltic and ultramafic rocks to the east and west. The elliptical Kintore Tonalite attenuates to the south to form very long narrow (80m wide in plan) intrusion which hosts the Mick Adam and Wadi gold mineralisation and a dyke swarm to the south-east which hosts the Outridge and Kiora gold mineralisation. Gold

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mineralisation is also hosted along the eastern margin of the main body of the tonalite at Wookie and Picante. Gold mineralisation in this area is hosted within the tonalite and within the flanking mafic/ultramafic sequence. The Lady Alice gold mineralisation is

associated with a fault array hosted

entirely within the bulk of the tonalite

intrusive. The Lady Alice fault array

coincides with the boundary between

de-magnetised tonalite to the east and

magnetised tonalite to the west.

Vertical vein arrays and kinematic

indicators at Mick Adam and Kiora

show the primary deformation at

Castle Hill was extension with an east

block down (sinistral normal) sense of

movement, suggesting emplacement

of the tonalite coincided with the

beginning of an extensional doming

event and the start of basin formation.

The tonalite has therefore been

interpreted as being emplaced in a

relay zone between two fault tips. NE

trending discrete faults are interpreted

to be hard-linked transfer structures

(perhaps zones of inherited weakness)

which form jogs and hence local areas

of dilation in the normal faults. Mick

Adam and Wadi are separated by a NE

trending fault which has generated an

offset of 250m across strike. Both

deposits dip shallowly to the east. NW

trending shear zones which were re-

activated during sinistral transpression

accommodate much of the

compressional strain and act to

preserve the extensional domain.

Primary mineralisation within the

tonalite at Mick Adam and Wadi

occurs as discrete narrow west dipping

quartz veins containing moderately to

extremely high gold grades and as fine

disseminated gold within the tonalite

groundmass. Visible gold has been

observed in drill core in both quartz

veins and as blebs in the tonalite

groundmass. The disseminated gold is

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commonly associated with minor blebs

of pyrite, arsenopyrite and rare

chalcopyrite. High gold grade veins are

typically 10 to 20cm thick and

commonly occur in extensional arrays

of four to five veins generating high

grade zones up to 10m in horizontal

thickness. Extensional veins are more

common along the eastern margin of

the tonalite. At the southern end of

Mick Adam extensional vein arrays

have been intersected in the footwall

of the mafic unit proximal to the

tonalite contact.

Extensional shear zone arrays are also

the host of the gold mineralisation at

Kiora. Sheeted quartz veins are

interpreted as the extensional veins

propagating out form the shears. The

veins within Kiora are hosted within

the tonalite along the contact with

ultramafic rocks and have been

interpreted as having undergone

supergene enrichment. Gold

mineralisation at Kiora is also hosted

within fault fill veins formed by

movement on a shallowly dipping

normal fault. Primary mineralisation

within the basalt which forms the

immediate hangingwall of the Mick

Adam mineralisation is

characteristically associated with

shearing, extensional veining and

biotite alteration. This mineralisation

has been called Outridge and

comprises a number of zones which

pinch and swell along strike and down

dip. Outridge mineralisation has been

interpreted as steeply dipping to the

west.

Drill hole

Information

A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: o easting and northing of the drill hole

collar o elevation or RL (Reduced Level –

elevation above sea level in metres) of the drill hole collar

o dip and azimuth of the hole

Location of data for drilling previously not reported in 2013 is in Table 4.

All drilling completed not yet reported in 2013 included in the Table. Inclusion of historic data would make Table to large data presented is representative of all drilling data.

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o down hole length and interception depth o 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.

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.

Exploration results reported as length weighed averages (intercepts) using a lower cut of 0.3ppm and/or 0.8ppm dependant on mineralisation. A maximum of 2m internal dilution.

Cutting of high grades was not applied.

Sample lengths from RC percussion drilling are all 1m lengths. Diamond core cut to geological boundaries so incorporates shorter sample length, length weighting is used to ensure a logical mean grade is determined.

Relationship

between

mineralisation

widths and

intercept

lengths

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’).

Drilling grids have been designed to intersect the mineralisation orthogonal to dip and strike, in instance of Mick Adam and Wadi deposit it is known the deposit dips toward 040 at 60 to 70 degrees, so drilling is predominantly designed facing 220 dipping at 60 degrees. Historic drilling was completed both toward 040 and 220 to test internal distribution of the gold mineralisation. Statistical analysis of this data has indicated there is no bias in either direction. Drilling toward 040 enables interception of lithological boundaries, while generation of a reasonable approximation of the horizontal width of the deposit.

True thickness depends on the mineralisation style.

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.

Appropriate maps and sections are shown above.

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.

Drillholes with no significant results are indicated in Table 6.

Other Other exploration data, if meaningful and Magnetic susceptibilityrelates to the

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substantive

exploration

data

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.

rock type.

Density measurements taken by downhole surveys of 11 RC holes. Further select samples from diamond drilling were assessed through the water displacement method.

Metallurgical drilling (5 diamond holes) was assayed for a multi-element suite.

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.

A feasibility study is underway for this area with the intention of bringing the area into production in the near future.

Section 3 Estimation and Reporting of Mineral Resources


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.

Drilling Database is maintained by Phoenix Gold in Datashed software, look-up tables and fixed formatting are used for entering logging, spatial and sampling data for the deposit databases. Sample numbers are uniquely coded and pre-numbered bags used. Data transfer for downhole survey and assaying information is electronic via email or USB data stick. Historical data is validated and formatted into the Phoenix standard field settings for each record category. These workflow methods minimise the potential of errors.

Cube received data directly exported from Datashed in ASCII format, then completed validation checks on the database comparing collar points to the topography, maximum hole depths checks between tables and the collar data, duplicate numbering, missing data, and interval error checks using validation rules in MS Excel before importing records into MS Access. Cube then verified the data using visual inspection of the drillholes in Surpac v6.3.2, in 3D to identify inconsistencies of drill hole traces.

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

Brian Fitzpatrick (Senior Consultant – Cube Consulting) who is the Competent Person conducted 5 site visits. Two site visits included viewing of the diamond

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indicate why this is the case. drill core for Mick Adam, Wadi, Kintore and Red Dam. During the site visits, Brian Fitzpatrick inspected the deposit area including old workings, RC drilling and sampling, and the core farm. Notes and photographs were taken along with discussions with site personnel regarding geology and mineralisation of the deposits, procedures, sampling and database procedures, and Quality Control procedures. Minor recommendations were made during a visit to the RC rig involving sample splitting. Also minor recommendations were reported for Quality Control practises. It was recommended during the first site visit that more sampling for Bulk Density Determinations was required and this was being addressed in subsequent site visits. No other major issues were encountered.

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.

The confidence in the geological interpretation of the Castle Hill Deposits is good as a result of recent infill RC and diamond core drilling programs. The Castle Hill Stage 1 deposits are structurally linked, with Wadi and Mick Adam being fault offsets of a single mineralised system. The principal lithology to host gold mineralisation at Castle Hill Stage 1 is the Kintore Tonalite a large intrusive granitoid of granodioritic composition. The tonalite intrudes a sequence of basaltic and ultramafic rocks to the east and west. The elliptical Kintore Tonalite attenuates to the south to form very long narrow (80m wide in plan) intrusion which hosts the Mick Adam and Wadi gold mineralisation and a dyke swarm to the south-east which hosts the Outridge and Kiora gold mineralisation. Gold mineralisation is also hosted along the eastern margin of the main body of the tonalite at Wookie and Picante. Gold mineralisation in this area is hosted within the tonalite and within the flanking mafic/ultramafic sequence.

Historical open pit workings provide exposure to some of the deposit rock types, structures and styles of mineralisation. Petrography and multi element geochemistry have been

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completed on recent drilling. Structural logging and analysis has been carried out on oriented diamond drill core and assisted with interpretation and modelling.

The main deposits are hosted within the tonalite lithologies with broad domains and recent drilling has refined the outer limits of the tonalite boundary and deeper extensions. The narrower deposits hosted within contact margins and thin dyke units have been refined as new infill drilling has confirmed continuity or distinctions between supergene mineralisation and primary mineralisation.

Primary mineralisation is predominantly hosted within the tonalite at Mick Adam and Wadi, and occurs as discrete narrow west dipping quartz veins containing moderately to extremely high gold grades and as fine disseminated gold within the tonalite groundmass. Extensional shear zone arrays are also the host of the gold mineralisation at Kiora. The veins within Kiora are hosted within the tonalite along the contact with ultramafic rocks and have been interpreted as having undergone supergene enrichment. Gold mineralisation at Kiora is also hosted within fault fill veins formed by movement on a shallowly dipping normal fault. Primary mineralisation within the basalt which forms the immediate hangingwall of the Mick Adam mineralisation is characteristically associated with shearing, extensional veining and biotite alteration. This mineralisation domain has been called Outridge and comprises a number of zones which pinch and swell along strike and down dip. Outridge mineralisation has been interpreted as steeply dipping to the west.

The Mick Adam tonalite hosted mineralisation is a broadly consistent zone, but it is likely to contain a series of stacked wide sub-domains of mineralisation separated by discrete zones of poor mineralisation. Where extensional veins are more common at Mick Adam and Wadi, gold mineralisation has greater continuity as is the case along the eastern margin of the tonalite. The smaller deposits continuity and size controlled by where

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the tonalite dykes pinch and swell, and extensional shear zone arrays host mineralisation. The shear zones occur along the contact with ultramafic rocks. Supergene mineralisation is well developed over the central portions of the high grade domains.

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 Castle Hill Stage 1 Mineral Resource area has dimensions of 4 km (strike length) by 500 m (width) and 360 m (elevation). The maximum depth known to date for the deepest mineralisation at Mick Adam is 360m below the surface. Multiple lode systems exist within this area, dominated by the Mick Adam main tonalite-hosted lode and the Wadi Tonalite. Mick Adam and Wadi are separated by a NE trending fault which has generated an offset of 250m across strike.

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

The block model was constructed using interpolation of grade via a combination of Ordinary Kriging (OK) and Multiple Indicator Kriging (MIK). The MIK interpolation was used for the Mick Adam and Wadi deposits which contain the majority of concentrated drilling data and the bulk of the Castle Hill mineralisation. This method was chosen over the OK method to provide better local grade estimation for mining evaluation. The other deposits are much smaller have so far less concentrated drilling and data points which are more suitable to OK method.

The influence of extreme grade values was reduced by top-cutting where required. The top-cut levels were determined using a combination of top-cut analysis tools (grade histograms, log probability plots and CVs). Top-cuts were reviewed and applied on a domain basis.

For each deposit mineralised domains were digitised on to cross-section using 3D strings and then wireframed to generate solids. Geology was used to separate the different mineralised zones, within these zones a threshold grade of 0.3g/t Au was used to separate mineralised rock form un-mineralised rock. Sub-domains were generated to represent each material type across each of the primary mineralised zones. Drillhole sample data was flagged using domain codes generated from three

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reconciliation data if available. dimensional mineralisation domains and oxidation surfaces. Sample data was composited to either one metre or two metre downhole length using a best fit-method. There were consequently no residuals. Intervals with no assays were excluded from the compositing routine.

Interpolation parameters were set to a minimum number of 4 composites and a maximum number of 24 composites for the estimate. Maximum search ellipse of 100 metres was used.

The maximum distance of extrapolation from data points was half the drill spacing.

Computer software used for the modelling and estimation was Surpac v. 6.3.2 with Isatis software used to conduct geostatistical analysis and grade interpolation for MIK estimation for specific lode domains.

This Mineral Resource is updated from the December 2012 Mineral Resource statement for Castle Hill. Comparison tables were setup to compare previous model estimates, and OK versus MIK estimates in order to check the impact of new infill drilling and to assess the appropriateness of the different estimation techniques There has been previous mine production at Mick Adam and Wadi where shallow open pit mining has taken place, and at Kiora, where a small open pit operation took place.

No by-product recoveries were considered.

Arsenic (ppm) was assayed for the most recent drilling, but not estimated. Although some arsenopyrite has been seen in high grade veins at Mick Adam, the visible gold in these veins do not appear to be associated directly with the sulphides.

The parent block size used is 10mN, 10m E and 2.5m RL and sub-blocked to 5.0mN x 2.5mE x 1.25mRL. The bulk of the drilling data was on 50m x 25m and 25 x 25m spaced sections.

No assumptions of selective mining units were made.

No correlation between gold and other elements has been assessed for any of the deposits.

The mineralised domains acted as a hard boundary to control the Mineral Resource estimate.

Composite gold grade distributions

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within these zones assessed to determine if a high grade cut should be applied. In general only a very small number of outlier values are included in the estimation domains that required top-cut values to be applied.

Block model validation was conducted by the following means: Visual inspection of block model estimation in relation to raw drill data on a section by section basis. Volumetric comparison of the wireframe/solid volume to that of the block model volume for each domain. A global statistical comparisons of input and block grades, and local composite grade (by northing and RL) relationship plots (swath plots), to the block model estimated grade for each domain. Comparison the cut grade drill hole composites with the block model grades for each lode domain in 3D.

Limited open pit mining has taken place and therefor no reconciliation data is available.

Moisture Whether the tonnages are estimated on a dry basis or with natural moisture, and the method of determination of the moisture content.

The tonnages are estimated on a dry basis.

Cut-off

parameters

The basis of the adopted cut-off grade(s) or quality parameters applied.

Cut-off grade for reporting is 0.8/t Au, in line with recommendations from Phoenix Gold based on preliminary economic considerations and previous optimisation studies for Mick Adam - bulk open pit mining at 5m bench height. Both heap leach and milling options were reviewed with an average cut-off grade of 0.8g/t Au being selected as optimal.

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 preliminary mining studies are based on open cut mining methods using a contract mining fleet and conventional drill and blast mining methods. Limited geotechnical drilling, as well as existing small open cut pits, indicate that ground conditions are suitable for this mining method. Expected mining recovery and dilution rates for mining vary between domains based on the geometry of the domains. No assumptions on mining methodology have been made.

Metallurgical The basis for assumptions or predictions Initial metallurgical tests yielded

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factors or

assumptions

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.

recoveries of 92% to 98% with high gravity component. The project plans to construct both a conventional mill with cyanide vat leach and a heap leach facility with reticulated cyanide leach. Both processes are planned to use the same carbon absorption, electro win and smelting of gold Dior. At this stage it appears that the mineralisation is free milling and leachable for each of the deposits, for both hard (fresh) and soft rock (transition and oxide) material. Previous mining at Kiora appears to support this assumption.

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.

Initial flora and fauna surveys at Castle Hill have not discovered any significant impediments to the proposed operations at this stage. The project does lie within the Great Western Woodlands. Stygofauna surveys are yet to be completed but it is unlikely, based on similar nearby studies to be an issue. The major host rock for the deposits is a tonalite. There are very few sulphides associated with either the mineralisation or the waste material. It is not expected that either the tailings, or waste land forms are going to contain any deleterious elements. There is limited topsoil coverage over the project area. Saprolite clays in existing pits appear to support vegetation recovery without rehabilitation. There is very limited ground water in the project area, so mining and processing effects on the water table are not expected to be significant. Studies are on-going to confirm these initial observations and assumptions.

Bulk density Whether assumed or determined. If assumed, the basis for the assumptions. If determined, the method used, whether wet or dry, the frequency of the measurements, the nature, size and representativeness of the samples.

The bulk density for bulk material must have been measured by methods that adequately account for void spaces (vugs, porosity, etc), moisture and differences between rock and alteration zones within the deposit.

Discuss assumptions for bulk density estimates used in the evaluation process of the different materials.

Bulk densities derived from dry density measurements of drill core and open pit measurements from the Mick Adam/Wadi deposits. Densities were also based on historic measured data by Mikado Resources in 1998, and from assumptions.

The current density measurements completed include selected holes surveyed using downhole gamma for density measurements. These were checked by selected samples being measured for SG by the water displacement method. Density measurements have also been taken by downhole surveys of 11 RC holes. Further select samples from diamond

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drilling were assessed through the water displacement method.

Bulk density was assigned within the block model attribute ‘density’ according to the weathering profiles and rock types.

Classification The basis for the classification of the Mineral Resources into varying confidence categories.

Whether appropriate account has been taken of all relevant factors (i.e. relative confidence in tonnage/grade estimations, reliability of input data, confidence in continuity of geology and metal values, quality, quantity and distribution of the data).

Whether the result appropriately reflects the Competent Person’s view of the deposit.

Blocks have been classified as Indicated or Inferred essentially based on data spacing and using a combination of search volume and number of data used for the estimation. Indicated Mineral Resources are defined nominally on 50 x 25m to 25m x 25m spaced drilling. Inferred Mineral Resources are defined by data density greater than 50m x 25m spaced drilling and confidence that the continuity of geology and mineralisation can be extended along strike and at depth.

Classification limits may vary where grade and geology is extremely continuous even though drill spacing extends passed the nominal limits specified. For Mick Adam and Wadi, due to the bulk low grade nature and grade continuity over a large distance it is prudent to classify areas of the tonalite as Indicated if the search criteria were met. At Kiora, a portion of this mineralised zone has been mined in the past which has increased confidence sufficient for Indicated classification to be assigned.

The Mineral Resource estimate appropriately reflects the Competent Person’s view of the deposit.

Audits or

reviews

The results of any audits or reviews of Mineral Resource estimates.

The Castle Hill Mineral Resource estimates have been updated from the December 2012 model and a preliminary model completed in March 2013. Interpretations and wireframing were completed by Phoenix Gold and updated by Cube following additional drilling data in August 2013. Block modelling of Mick Adam and Wadi work completed up to May 2013 by Phoenix and Cube was updated and expanded in August 2013 to include additional deposits (Outridge, Kiora, Wookie and Lady Alice). Audits and peer reviews of work carried out by Phoenix and Cube in 2013 have been conducted by other Cube staff.

Discussion of

relative

Where appropriate a statement of the relative accuracy and confidence level in the Mineral Resource estimate using an

The recent input drill data is comprehensive in its coverage of the gold mineralisation at Castle Hill Stage 1.

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accuracy/

confidence

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.

This information has increased the knowledge of the geological controls on mineralisation which has been used to develop the current Mineral Resource estimate. The MIK estimation provides a better estimate of local grade estimate for mining evaluation over OK estimation and is also a robust estimate for a broad bulk mineralised zone within which local variability in grade will be high. Outside of Mick Adam and Wadi Deposits, local variations can be expected within the interpreted mineralised domains. The use of OK has assisted in reducing the risk associated with any high nugget observed in the gold distribution. The additional benefit of OK is it inherently assists in declustering the data during the estimate.

The Mineral Resources constitute a global resource estimate.

Modelling has provided an understanding of the global grade distribution – but not the local grade distribution. Close spaced grade control drilling is required to gain an understanding of the local grade distribution and local mineralisation controls. Understanding of these aspects will play an important role in the project’s success. Although the Mick Adam deposit has been trial mined before, the standard of sampling and record keeping is not sufficient for this trial to be used to reconcile against the current model.

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ASX: PXG, PXGOA

Phoenix Gold Ltd

ABN 55 140 269 316

73 Dugan Street

PO Box 100

Kalgoorlie WA 6430

Phone +61 8 9021 2704

Fax +61 8 9021 3393


[email protected]


Appendix 2.

Table 2: Castle Hill Stage 1 Mineral Resource estimate at a 0.8g/t Au cut-off grade

Table 3: Combined Castle Hill Mineral Resource estimate at a 0.8g/t Au cut-off grade

Table 4: Total Mineral Resource estimate at a 0.8g/t Au cut-off grade


Castle Hill Stage 1 14.67 1.7 807,000 7.11 1.4 330,000 21.79 1.6 1,137,000

Total 14.67 1.7 807,000 7.11 1.4 330,000 21.79 1.6 1,137,000

September 2013

Measured Mineral

Resource

Indicated Mineral

Resource

Inferred Mineral



Castle Hill Stage 1 14.67 1.7 807,000 7.11 1.4 330,000 21.79 1.6 1,137,000

Castle Hill Stage 2 8.16 1.5 405,000 8.16 1.5 405,000

Castle Hill other 0.18 3.4 20,000 0.15 3.1 15,000 0.67 1.9 40,000 1.01 2.3 75,000

Castle Hill Total 0.18 3.4 20,000 14.83 1.7 822,000 15.94 1.5 774,000 30.95 1.6 1,616,000

September 2013

Measured Mineral

Resource

Indicated Mineral

Resource

Inferred Mineral



Castle Hill 0.18 3.4 20,000 14.83 1.7 822,000 15.94 1.5 774,000 30.95 1.6 1,616,000

Broads Dam 2.37 2.2 168,000 3.44 2.2 242,000 5.81 2.2 409,000

Kunanalling 0.58 2.4 45,000 1.34 1.6 70,000 4.40 1.7 241,000 6.32 1.8 356,000

Ora Banda 3.11 1.9 187,000 3.53 1.9 210,000 6.64 1.9 397,000

Carbine 1.97 1.6 103,000 0.09 1.8 5,000 2.06 1.6 108,000

Zuleika North 0.51 2.5 41,000 0.27 2.5 22,000 0.78 2.5 63,000

Stockpiles 0.14 1.5 7,000 0.14 1.5 7,000

Total 0.76 2.6 65,000 24.27 1.8 1,397,000 27.66 1.7 1,494,000 52.69 1.7 2,956,000

Project

Measured Mineral

Resource

Indicated Mineral

Resource

Inferred Mineral


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Table 5 – Castle Hill Gold Project – Significant drilling results (see Note below)

Hole Id Collar Location MGA_51 Depth

(m) Dip Azimuth

From (m)

To (m) Width

(m)

Grade (ppm Au)

Description

Easting Northing RL

PXGC0507 312002 6608601 424 150 -60.5 219.8 70 71 1 0.32 1m @ 0.32 ppm

76 79 3 7.46 3m @ 7.46 ppm

82 90 8 3.75 8m @ 3.75 ppm

98 100 2 0.42 2m @ 0.42 ppm

105 106 1 0.35 1m @ 0.35 ppm

130 137 7 1.07 7m @ 1.07 ppm

144 150 6 1.99 6m @ 1.99 ppm

PXGC0508 312047 6608495 426 175 -60.9 219.9 5 14 9 0.88 9m @ 0.88 ppm

18 19 1 0.46 1m @ 0.46 ppm

32 35 3 1.12 3m @ 1.12 ppm

43 46 3 0.37 3m @ 0.37 ppm

49 50 1 0.52 1m @ 0.52 ppm

57 59 2 1.15 2m @ 1.15 ppm

65 78 13 2.99 13m @ 2.99 ppm

87 101 14 1.18 14m @ 1.18 ppm

104 107 3 0.62 3m @ 0.62 ppm

111 112 1 1.23 1m @ 1.23 ppm

117 118 1 0.83 1m @ 0.83 ppm

126 127 1 0.51 1m @ 0.51 ppm

138 139 1 0.41 1m @ 0.41 ppm

142 143 1 0.4 1m @ 0.40 ppm

167 168 1 0.47 1m @ 0.47 ppm

PXGC0509 312052 6608532 425 150 -60 219.3 51 55 4 1.9 4m @ 1.90 ppm

60 61 1 2.89 1m @ 2.89 ppm

67 68 1 0.43 1m @ 0.43 ppm

75 76 1 0.94 1m @ 0.94 ppm

83 149 66 2.83 66m @ 2.83 ppm

PXGC0510 312061 6608551 425 100 -60 218.6 48 49 1 0.38 1m @ 0.38 ppm

52 56 4 0.22 4m @ 0.22 ppm

84 99 15 1.02 15m @ 1.02 ppm

PXGC0511 312071 6608572 424 100 -60.2 218.5 0 1 1 0.77 1m @ 0.77 ppm

20 21 1 3.21 1m @ 3.21 ppm

94 95 1 1.29 1m @ 1.29 ppm

PXGC0512 312088 6608590 424 230 -60 218.6 NSI

PXGC0518 312112 6608578 424 225 -60.1 218.5 171 191 20 1.14 20m @ 1.14 ppm

194 208 14 1.06 14m @ 1.06 ppm

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Hole Id Collar Location MGA_51

Depth (m)

Dip Azimuth From (m)

To (m) Width

(m)

Grade (ppm Au)

Description

PXGC0519 312116 6608548 425 225 -59.8 218.2 88 89 1 0.85 1m @ 0.85 ppm

172 195 23 3.4 23m @ 3.40 ppm

200 201 1 0.34 1m @ 0.34 ppm

210 212 2 0.39 2m @ 0.39 ppm

PXGC0520 312084 6608502 428 200 -59.8 218.6 54 55 1 0.31 1m @ 0.31 ppm

61 62 1 2.12 1m @ 2.12 ppm

113 114 1 0.41 1m @ 0.41 ppm

131 132 1 0.39 1m @ 0.39 ppm

135 136 1 6.2 1m @ 6.20 ppm

144 145 1 0.31 1m @ 0.31 ppm

151 156 5 0.8 5m @ 0.80 ppm

159 164 5 1.42 5m @ 1.42 ppm

170 171 1 4.71 1m @ 4.71 ppm

181 182 1 0.34 1m @ 0.34 ppm

PXGC0521 312050 6608470 427 150 -59.5 218.5 0 3 3 0.34 3m @ 0.34 ppm

47 53 6 0.39 6m @ 0.39 ppm

58 61 3 0.53 3m @ 0.53 ppm

64 66 2 0.59 2m @ 0.59 ppm

69 100 31 1.04 31m @ 1.04 ppm

105 106 1 2.35 1m @ 2.35 ppm

118 119 1 0.31 1m @ 0.31 ppm

144 145 1 1.05 1m @ 1.05 ppm

PXGC0522 312098 6608476 429 175 -60.2 220 48 49 1 0.39 1m @ 0.39 ppm

57 58 1 0.57 1m @ 0.57 ppm

70 71 1 0.61 1m @ 0.61 ppm

128 131 3 0.94 3m @ 0.94 ppm

137 139 2 2.38 2m @ 2.38 ppm

144 150 6 6.16 6m @ 6.16 ppm

164 172 8 1.58 8m @ 1.58 ppm

PXGC0523 312019 6608394 427 100 -60.5 219.6 17 21 4 0.64 4m @ 0.64 ppm

24 28 4 0.24 4m @ 0.24 ppm

31 35 4 0.79 4m @ 0.79 ppm

42 70 28 0.78 28m @ 0.78 ppm

PXGC0524 311997 6608373 427 100 -60.3 219.4 6 7 1 0.63 1m @ 0.63 ppm

10 17 7 2.54 7m @ 2.54 ppm

20 23 3 0.81 3m @ 0.81 ppm

27 29 2 0.6 2m @ 0.60 ppm

38 39 1 0.36 1m @ 0.36 ppm

PXGC0525 312043 6608357 427 100 -60.2 216.9 28 44 16 1.8 16m @ 1.80 ppm

62 63 1 0.39 1m @ 0.39 ppm

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Depth (m)


To (m) Width

(m)

Grade (ppm Au)

Description

PXGC0526 312016 6608334 427 100 -59.6 220.3 15 17 2 0.84 2m @ 0.84 ppm

29 30 1 0.57 1m @ 0.57 ppm

PXGC0582 312520 6607356 412 130 -60.3 218.6 39 40 1 0.31 1m @ 0.31 g/t Au

70 76 6 1.19 6m @ 1.19 g/t Au

88 90 2 0.64 2m @ 0.64 g/t Au

PXGC0584 312499 6607408 413 130 -60 218.4 8 9 1 0.51 1m @ 0.51 g/t Au

75 82 7 0.42 7m @ 0.42 g/t Au

85 87 2 1.07 2m @ 1.07 g/t Au

92 103 11 1.25 11m @ 1.25 g/t Au

PXGC0585 312493 6607477 414 170 -60.4 214.9 105 106 1 0.44 1m @ 0.44 g/t Au

110 112 2 0.39 2m @ 0.39 g/t Au

116 165 49 1.11 49m @ 1.11 g/t Au

PXGC0586 312524 6607516 416 210 -60.4 214.4 48 49 1 0.51 1m @ 0.51 g/t Au

135 136 1 0.53 1m @ 0.53 g/t Au

142 143 1 0.81 1m @ 0.81 g/t Au

146 149 3 0.58 3m @ 0.58 g/t Au

158 160 2 0.41 2m @ 0.41 g/t Au

165 176 11 4.08 11m @ 4.08 g/t Au

182 185 3 0.3 3m @ 0.30 g/t Au

190 191 1 1.17 1m @ 1.17 g/t Au

197 198 1 3.49 1m @ 3.49 g/t Au

205 207 2 0.53 2m @ 0.53 g/t Au

PXGC0587 312440 6607491 414 150 -61 223.9 38 40 2 0.47 2m @ 0.47 g/t Au

50 51 1 0.48 1m @ 0.48 g/t Au

55 72 17 0.44 17m @ 0.44 g/t Au

75 96 21 1.09 21m @ 1.09 g/t Au

99 132 33 1.15 33m @ 1.15 g/t Au

135 136 1 0.3 1m @ 0.30 g/t Au

140 150 10 0.48 10m @ 0.48 g/t Au

PXGC0588 312471 6607528 415 190 -61.3 224.3 37 38 1 0.38 1m @ 0.38 g/t Au

106 108 2 0.47 2m @ 0.47 g/t Au

115 116 1 0.38 1m @ 0.38 g/t Au

120 126 6 0.66 6m @ 0.66 g/t Au

133 134 1 0.58 1m @ 0.58 g/t Au

138 151 13 2.21 13m @ 2.21 g/t Au

154 166 12 0.66 12m @ 0.66 g/t Au

169 180 11 2.41 11m @ 2.41 g/t Au

186 187 1 0.32 1m @ 0.32 g/t Au

PXGC0589 312402 6607524 415 150 -60.8 217.7 43 46 3 0.81 3m @ 0.81 g/t Au

53 63 10 0.84 10m @ 0.84 g/t Au

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Depth (m)


To (m) Width

(m)

Grade (ppm Au)

Description

69 84 15 1.17 15m @ 1.17 g/t Au

89 99 10 0.54 10m @ 0.54 g/t Au

103 118 15 1.15 15m @ 1.15 g/t Au

124 136 12 0.52 12m @ 0.52 g/t Au

142 146 4 0.45 4m @ 0.45 g/t Au

PXGC0590 312432 6607560 415 190 -59.9 214.9 81 83 2 0.7 2m @ 0.70 g/t Au

86 94 8 0.96 8m @ 0.96 g/t Au

105 110 5 0.97 5m @ 0.97 g/t Au

113 125 12 0.67 12m @ 0.67 g/t Au

141 142 1 0.32 1m @ 0.32 g/t Au

151 152 1 0.61 1m @ 0.61 g/t Au

155 156 1 0.49 1m @ 0.49 g/t Au

159 165 6 0.74 6m @ 0.74 g/t Au

184 185 1 2.81 1m @ 2.81 g/t Au

188 189 1 0.45 1m @ 0.45 g/t Au

PXGC0591 312379 6607575 416 130 -60.9 216.6 27 28 1 0.38 1m @ 0.38 g/t Au

34 36 2 0.62 2m @ 0.62 g/t Au

55 66 11 1.41 11m @ 1.41 g/t Au

69 70 1 0.45 1m @ 0.45 g/t Au

75 84 9 0.4 9m @ 0.40 g/t Au

89 91 2 1.04 2m @ 1.04 g/t Au

94 96 2 1.99 2m @ 1.99 g/t Au

112 116 4 0.85 4m @ 0.85 g/t Au

119 122 3 0.62 3m @ 0.62 g/t Au

PXGC0592 312371 6607645 416 170 -60 220 42 43 1 0.34 1m @ 0.34 g/t Au

47 48 1 0.37 1m @ 0.37 g/t Au

52 54 2 0.54 2m @ 0.54 g/t Au

69 72 3 1.24 3m @ 1.24 g/t Au

99 100 1 0.32 1m @ 0.32 g/t Au

105 106 1 0.66 1m @ 0.66 g/t Au

110 119 9 0.5 9m @ 0.50 g/t Au

123 124 1 2.52 1m @ 2.52 g/t Au

132 152 20 0.65 20m @ 0.65 g/t Au

157 159 2 0.65 2m @ 0.65 g/t Au

162 163 1 0.74 1m @ 0.74 g/t Au

167 168 1 10.23 1m @ 10.23 g/t Au

PXGC0593 312341 6607607 417 140 -59.9 220.3 37 38 1 1.57 1m @ 1.57 g/t Au

41 49 8 1.68 8m @ 1.68 g/t Au

53 54 1 0.34 1m @ 0.34 g/t Au

58 59 1 0.36 1m @ 0.36 g/t Au

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Depth (m)


To (m) Width

(m)

Grade (ppm Au)

Description

62 63 1 3.76 1m @ 3.76 g/t Au

71 72 1 0.42 1m @ 0.42 g/t Au

82 83 1 0.31 1m @ 0.31 g/t Au

100 101 1 0.44 1m @ 0.44 g/t Au

112 122 10 0.53 10m @ 0.53 g/t Au

PXGC0594 312513 6607267 412 80 -59.4 222.1 22 27 5 0.4 5m @ 0.40 g/t Au

49 67 18 1.36 18m @ 1.36 g/t Au

75 79 4 0.53 4m @ 0.53 g/t Au

PXGC0595 312544 6607305 412 110 -59.5 217.9 11 13 2 1.49 2m @ 1.49 g/t Au

31 32 1 0.6 1m @ 0.60 g/t Au

49 50 1 0.35 1m @ 0.35 g/t Au

61 63 2 0.95 2m @ 0.95 g/t Au

66 67 1 0.79 1m @ 0.79 g/t Au

70 71 1 0.93 1m @ 0.93 g/t Au

97 98 1 1.08 1m @ 1.08 g/t Au

103 104 1 0.58 1m @ 0.58 g/t Au

PXGC0596 312583 6607325 412 140 -59.7 218.8 9 12 3 0.75 3m @ 0.75 g/t Au

81 82 1 4.63 1m @ 4.63 g/t Au

97 98 1 1.6 1m @ 1.60 g/t Au

114 116 2 0.33 2m @ 0.33 g/t Au

119 120 1 0.35 1m @ 0.35 g/t Au

126 127 1 0.49 1m @ 0.49 g/t Au

132 140 8 0.77 8m @ 0.77 g/t Au

PXGC0597 312607 6607382 413 180 -60.2 215.6 50 53 3 0.37 3m @ 0.37 g/t Au

154 164 10 0.52 10m @ 0.52 g/t Au

168 170 2 0.72 2m @ 0.72 g/t Au

PXGC0598 312584 6607274 412 130 -60 220 85 89 4 1 4m @ 1.00 g/t Au

92 112 20 0.82 20m @ 0.82 g/t Au

118 121 3 0.45 3m @ 0.45 g/t Au

125 126 1 0.97 1m @ 0.97 g/t Au

PXGC0599 312612 6607310 412 150 -58.6 215.7 97 98 1 0.73 1m @ 0.73 g/t Au

107 110 3 0.81 3m @ 0.81 g/t Au

116 117 1 0.61 1m @ 0.61 g/t Au

120 121 1 1.88 1m @ 1.88 g/t Au

126 139 13 1.39 13m @ 1.39 g/t Au

142 143 1 1.1 1m @ 1.10 g/t Au

146 150 4 7.71 4m @ 7.71 g/t Au

PXGC0600 312656 6607243 413 80 -60.8 213.5 NSI

PXGC0601 312688 6607281 413 100 -59.5 214.6 27 28 1 0.37 1m @ 0.37 g/t Au

52 56 4 0.54 4m @ 0.54 g/t Au

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Depth (m)


To (m) Width

(m)

Grade (ppm Au)

Description

PXGC0602 312694 6607211 413 70 -59.8 216 26 27 1 0.75 1m @ 0.75 g/t Au

PXGC0603 312728 6607251 413 100 -61.1 212.5 57 58 1 0.52 1m @ 0.52 g/t Au

73 77 4 1.09 4m @ 1.09 g/t Au

PXGC0604 312371 6607486 415 100 -60.6 214.3 13 15 2 0.8 2m @ 0.80 g/t Au

43 44 1 1.51 1m @ 1.51 g/t Au

48 50 2 0.34 2m @ 0.34 g/t Au

PXGC0605 312311 6607567 416 100 -60.3 214.8 0 1 1 0.7 1m @ 0.70 g/t Au

26 28 2 0.33 2m @ 0.33 g/t Au

38 52 14 0.59 14m @ 0.59 g/t Au

81 82 1 1 1m @ 1.00 g/t Au

PXGC0606 311310 6608888 431 80 -65 270 NSI

PXGC0607 311365 6608883 431 110 -65 270 17 18 1 0.45 1m @ 0.45 g/t Au

93 94 1 9.69 1m @ 9.69 g/t Au

PXGC0608 311310 6608939 430 80 -65 270 NSI

PXGC0609 311369 6608940 430 110 -65 270 14 17 3 0.45 3m @ 0.45 g/t Au

39 40 1 0.49 1m @ 0.49 g/t Au

44 45 1 0.32 1m @ 0.32 g/t Au

48 51 3 1.4 3m @ 1.40 g/t Au

54 58 4 1.2 4m @ 1.20 g/t Au

PXGC0610 311320 6608992 429 80 -65 270 26 28 2 0.6 2m @ 0.60 g/t Au

PXGC0611 311369 6608990 429 110 -65 270 31 32 1 1 1m @ 1.00 g/t Au

37 38 1 14.22 1m @ 14.22 g/t Au

52 53 1 0.33 1m @ 0.33 g/t Au

PXGC0612 311309 6609039 428 80 -65 270 2 3 1 0.94 1m @ 0.94 g/t Au

21 22 1 0.83 1m @ 0.83 g/t Au

39 40 1 0.45 1m @ 0.45 g/t Au

PXGC0613 311369 6609038 428 110 -65 270 74 81 7 0.73 7m @ 0.73 g/t Au

85 86 1 1.22 1m @ 1.22 g/t Au

98 99 1 0.5 1m @ 0.50 g/t Au

PXGC0614 311426 6609038 428 110 -65 270 75 76 1 6.77 1m @ 6.77 g/t Au

82 83 1 1.16 1m @ 1.16 g/t Au

92 93 1 0.31 1m @ 0.31 g/t Au

PXGC0615 311496 6609038 429 100 -65 270 25 26 1 0.67 1m @ 0.67 g/t Au

45 47 2 1.63 2m @ 1.63 g/t Au

79 80 1 3.43 1m @ 3.43 g/t Au

89 90 1 0.35 1m @ 0.35 g/t Au

PXGC0616 311556 6609039 427 150 -65 270 21 24 3 1.14 3m @ 1.14 g/t Au

92 93 1 1.21 1m @ 1.21 g/t Au

PXGC0618 311372 6609089 427 80 -65 270 37 38 1 1.05 1m @ 1.05 g/t Au

58 59 1 1.02 1m @ 1.02 g/t Au

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Depth (m)


To (m) Width

(m)

Grade (ppm Au)

Description

63 64 1 0.42 1m @ 0.42 g/t Au

73 74 1 0.32 1m @ 0.32 g/t Au

78 80 2 0.41 2m @ 0.41 g/t Au

PXGC0619 311425 6609090 428 80 -65 270 15 16 1 0.31 1m @ 0.31 g/t Au

25 26 1 0.33 1m @ 0.33 g/t Au

31 32 1 1.42 1m @ 1.42 g/t Au

36 37 1 0.49 1m @ 0.49 g/t Au

47 54 7 0.76 7m @ 0.76 g/t Au

60 61 1 0.36 1m @ 0.36 g/t Au

PXGC0620 311493 6609089 427 100 -65 270 32 33 1 0.39 1m @ 0.39 g/t Au

PXGC0621 311557 6609090 426 150 -65 270 NSI

PXGC0622 311313 6609140 424 80 -65 270 NSI

PXGC0623 311372 6609136 426 80 -65 270 NSI

PXGC0624 311441 6609136 426 80 -65 270 NSI

PXGC0625 311494 6609139 426 100 -65 270 22 24 2 0.84 2m @ 0.84 g/t Au

31 32 1 0.46 1m @ 0.46 g/t Au

37 38 1 0.3 1m @ 0.30 g/t Au

PXGC0626 311555 6609139 426 150 -65 270 23 24 1 0.4 1m @ 0.40 g/t Au

29 35 6 0.3 6m @ 0.30 g/t Au

41 42 1 0.33 1m @ 0.33 g/t Au

68 69 1 1.67 1m @ 1.67 g/t Au

111 116 5 0.45 5m @ 0.45 g/t Au

PXGC0628 311371 6609188 426 80 -60 90 0 1 1 0.89 1m @ 0.89 g/t Au

55 56 1 1.53 1m @ 1.53 g/t Au

62 68 6 0.39 6m @ 0.39 g/t Au

PXGC0629 311427 6609189 425 80 -60 90 7 10 3 1.8 3m @ 1.80 g/t Au

43 53 10 1.05 10m @ 1.05 g/t Au

56 57 1 0.46 1m @ 0.46 g/t Au

60 61 1 0.42 1m @ 0.42 g/t Au

PXGC0630 311495 6609188 425 100 -65 270 47 50 3 1.19 3m @ 1.19 g/t Au

54 60 6 0.61 6m @ 0.61 g/t Au

63 67 4 0.33 4m @ 0.33 g/t Au

PXGC0631 311523 6609190 425 110 -65 270 32 35 3 1.51 3m @ 1.51 g/t Au

40 41 1 0.42 1m @ 0.42 g/t Au

44 45 1 1.06 1m @ 1.06 g/t Au

51 57 6 1.02 6m @ 1.02 g/t Au

68 69 1 0.32 1m @ 0.32 g/t Au

80 81 1 3.82 1m @ 3.82 g/t Au

PXGC0632 311552 6609189 425 140 -65 270 23 27 4 0.69 4m @ 0.69 g/t Au

36 37 1 0.62 1m @ 0.62 g/t Au

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Depth (m)


To (m) Width

(m)

Grade (ppm Au)

Description

62 63 1 1.02 1m @ 1.02 g/t Au

80 81 1 0.69 1m @ 0.69 g/t Au

111 112 1 0.7 1m @ 0.70 g/t Au

PXGC0633 311614 6609185 425 130 -65 270 10 11 1 0.31 1m @ 0.31 g/t Au

14 16 2 0.48 2m @ 0.48 g/t Au

35 40 5 0.54 5m @ 0.54 g/t Au

PXGC0634 311675 6609192 425 130 -65 270 18 24 6 1.42 6m @ 1.42 g/t Au

28 36 8 0.29 8m @ 0.29 g/t Au

41 50 9 0.5 9m @ 0.50 g/t Au

PXGC0635 311436 6609240 425 80 -60 90 42 51 9 1.25 9m @ 1.25 g/t Au

PXGC0636 311493 6609240 424 100 -65 270 18 20 2 0.41 2m @ 0.41 g/t Au

40 47 7 1.15 7m @ 1.15 g/t Au

54 55 1 0.52 1m @ 0.52 g/t Au

62 63 1 0.88 1m @ 0.88 g/t Au

88 90 2 0.86 2m @ 0.86 g/t Au

PXGC0637 311522 6609244 424 110 -65 270 44 45 1 0.62 1m @ 0.62 g/t Au

PXGC0638 311559 6609237 425 140 -65 270 27 28 1 0.3 1m @ 0.30 g/t Au

38 39 1 0.72 1m @ 0.72 g/t Au

131 132 1 1.1 1m @ 1.10 g/t Au

138 139 1 0.45 1m @ 0.45 g/t Au

PXGC0639 311615 6609236 425 130 -64.8 269.9 20 22 2 0.51 2m @ 0.51 g/t Au

69 72 3 0.63 3m @ 0.63 g/t Au

PXGC0640 311678 6609237 424 130 -65 270 17 18 1 0.36 1m @ 0.36 g/t Au

26 30 4 1.22 4m @ 1.22 g/t Au

33 34 1 0.38 1m @ 0.38 g/t Au

37 38 1 0.4 1m @ 0.40 g/t Au

43 44 1 0.96 1m @ 0.96 g/t Au

56 57 1 0.95 1m @ 0.95 g/t Au

88 96 8 0.55 8m @ 0.55 g/t Au

PXGC0641 311785 6609238 423 180 -60 270 59 60 1 2.68 1m @ 2.68 g/t Au

PXGC0642 311844 6609238 423 180 -60 270 100 101 1 0.42 1m @ 0.42 g/t Au

108 114 6 0.48 6m @ 0.48 g/t Au

159 160 1 0.55 1m @ 0.55 g/t Au

164 165 1 10.71 1m @ 10.71 g/t Au

173 174 1 0.31 1m @ 0.31 g/t Au

PXGC0643 311796 6609275 423 180 -60 270 92 93 1 0.51 1m @ 0.51 g/t Au

102 105 3 0.57 3m @ 0.57 g/t Au

115 120 5 1 5m @ 1.00 g/t Au

150 154 4 0.41 4m @ 0.41 g/t Au

PXGC0645 311784 6609490 424 180 -50 270 162 166 4 2.58 4m @ 2.58 g/t Au

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Depth (m)


To (m) Width

(m)

Grade (ppm Au)

Description

169 170 1 0.62 1m @ 0.62 g/t Au

PXGC0646 311538 6609540 422 95 -75 90 10 17 7 0.51 7m @ 0.51 g/t Au

20 22 2 0.84 2m @ 0.84 g/t Au

31 38 7 0.41 7m @ 0.41 g/t Au

44 46 2 0.58 2m @ 0.58 g/t Au

49 54 5 1.47 5m @ 1.47 g/t Au

59 68 9 1.28 9m @ 1.28 g/t Au

74 75 1 0.41 1m @ 0.41 g/t Au

81 83 2 0.63 2m @ 0.63 g/t Au

87 93 6 0.83 6m @ 0.83 g/t Au

PXGC0649 311618 6609590 423 130 -60 270 55 57 2 0.4 2m @ 0.40 g/t Au

71 73 2 0.72 2m @ 0.72 g/t Au

80 81 1 0.46 1m @ 0.46 g/t Au

98 99 1 0.36 1m @ 0.36 g/t Au

PXGC0650 311683 6609601 424 180 -60 270 103 104 1 1.07 1m @ 1.07 g/t Au

107 111 4 4.28 4m @ 4.28 g/t Au

121 123 2 0.38 2m @ 0.38 g/t Au

128 129 1 0.63 1m @ 0.63 g/t Au

140 147 7 1.47 7m @ 1.47 g/t Au

150 151 1 0.46 1m @ 0.46 g/t Au

167 171 4 1 4m @ 1.00 g/t Au

PXGC0653 311588 6609690 423 130 -60 270 85 89 4 0.43 4m @ 0.43 g/t Au

120 121 1 0.58 1m @ 0.58 g/t Au

PXGC0654 311653 6609690 424 180 -60 270 122 123 1 0.35 1m @ 0.35 g/t Au

129 136 7 0.47 7m @ 0.47 g/t Au

PXGC0656 311821 6608544 417 80 -90 0 27 35 8 0.99 8m @ 0.99 g/t Au

38 44 6 0.39 6m @ 0.39 g/t Au

PXGC0657 311805 6608524 430 60 -90 0 4 7 3 1.58 3m @ 1.58 g/t Au

21 22 1 0.32 1m @ 0.32 g/t Au

PXGC0657A 311805 6608522 430 80 -90 0 NSI

PXGC0658 311800 6608480 430 60 -90 0 NSI

PXGC0659 311822 6608515 430 90 -90 0 12 15 3 1.24 3m @ 1.24 g/t Au

PXGC0660 311838 6608487 426 100 -90 0 9 14 5 2.22 5m @ 2.22 g/t Au

35 37 2 0.72 2m @ 0.72 g/t Au

40 41 1 0.53 1m @ 0.53 g/t Au

PXGC0661 311902 6608523 427 100 -60 220 12 16 4 0.74 4m @ 0.74 g/t Au

27 28 1 0.69 1m @ 0.69 g/t Au

33 41 8 0.59 8m @ 0.59 g/t Au

48 50 2 0.34 2m @ 0.34 g/t Au

54 70 16 0.7 16m @ 0.70 g/t Au

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Depth (m)


To (m) Width

(m)

Grade (ppm Au)

Description

79 80 1 0.43 1m @ 0.43 g/t Au

83 86 3 0.83 3m @ 0.83 g/t Au

PXGC0662 311889 6608507 427 80 -60 220 13 15 2 0.87 2m @ 0.87 g/t Au

20 21 1 0.45 1m @ 0.45 g/t Au

31 32 1 0.64 1m @ 0.64 g/t Au

37 68 31 0.74 31m @ 0.74 g/t Au

71 72 1 1.3 1m @ 1.30 g/t Au

PXGC0663 311876 6608491 427 80 -60 220 20 28 8 1.28 8m @ 1.28 g/t Au

33 49 16 0.51 16m @ 0.51 g/t Au

PXGC0664 311847 6608457 428 80 -60 220 36 37 1 0.44 1m @ 0.44 g/t Au

PXGC0665 311731 6608671 418 100 -90 0 0 33 33 0.96 33m @ 0.96 g/t Au

37 41 4 0.82 4m @ 0.82 g/t Au

44 52 8 1.79 8m @ 1.79 g/t Au

55 59 4 0.57 4m @ 0.57 g/t Au

70 71 1 0.54 1m @ 0.54 g/t Au

PXGC0666 311823 6608472 426 90 -90 0 NSI

PXGD0051 311738 6609067 424 80.04 -60 220 0.7 1.4 0.7 0.6 .7m @ 0.60 g/t Au

3.67 7.2 3.53 2.67 3.53m @ 2.67 g/t Au

11.46 15.41 3.95 4.62 3.95m @ 4.62 g/t Au

22.59 23.22 0.63 2.78 .63m @ 2.78 g/t Au

26 37.4 11.4 0.9 11.4m @ 0.90 g/t Au

39.71 47.67 7.96 0.53 7.96m @ 0.53 g/t Au

64.13 65.94 1.81 0.4 1.81m @ 0.40 g/t Au

68.92 69.96 1.04 0.97 1.04m @ 0.97 g/t Au

PXGD0052 311570 6608867 428 199.98 -60 220 0 0.5 0.5 0.3 .5m @ 0.30 g/t Au

6 43.06 37.06 1.43 37.06m @ 1.43 g/t Au

45.53 53 7.47 0.64 7.47m @ 0.64 g/t Au

55.76 56.84 1.08 1.25 1.08m @ 1.25 g/t Au

59.87 65.25 5.38 0.31 5.38m @ 0.31 g/t Au

67.9 73.57 5.67 0.57 5.67m @ 0.57 g/t Au

78.94 105.58 26.64 3.23 26.64m @ 3.23 g/t Au

107.82 108.4 0.58 0.71 .58m @ 0.71 g/t Au

115.62 119.57 3.95 2.12 3.95m @ 2.12 g/t Au

PXGD0053 312471 6607249 412 55 -60 220 16.75 18 1.25 0.32 1.25m @ 0.32 g/t Au

27 28.5 1.5 0.51 1.5m @ 0.51 g/t Au

31.4 32 0.6 0.47 .6m @ 0.47 g/t Au

37.6 38.1 0.5 0.35 .5m @ 0.35 g/t Au

PXGD0054 312452 6607433 414 107.8 -60 220 49.29 96.43 47.14 1.43 47.14m @ 1.43 g/t Au

PXGD0055 311729 6608710 417 110 -60 220 1.7 61 59.3 0.73 59.3m @ 0.73 g/t Au

64 67 3 0.54 3m @ 0.54 g/t Au

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Depth (m)


To (m) Width

(m)

Grade (ppm Au)

Description

PXGD0056 312000 6608499 425 120 -60 220 0 4.5 4.5 0.67 4.5m @ 0.67 g/t Au

7.12 13.7 6.58 1.49 6.58m @ 1.49 g/t Au

16.7 17.3 0.6 0.34 .6m @ 0.34 g/t Au

39.6 40.5 0.9 1.65 .9m @ 1.65 g/t Au

50.67 51.9 1.23 0.69 1.23m @ 0.69 g/t Au

54.38 57 2.62 0.92 2.62m @ 0.92 g/t Au

60 61.98 1.98 0.27 1.98m @ 0.27 g/t Au

65.8 69 3.2 0.23 3.2m @ 0.23 g/t Au

71.4 76.98 5.58 0.66 5.58m @ 0.66 g/t Au

79.33 80.9 1.57 1.91 1.57m @ 1.91 g/t Au

89.6 90.22 0.62 0.64 .62m @ 0.64 g/t Au

95.29 97.07 1.78 0.51 1.78m @ 0.51 g/t Au

PXGD0057 311757 6608944 425 89.93 -60 220 0 0.9 0.9 0.44 .9m @ 0.44 g/t Au

56.24 57 0.76 0.74 .76m @ 0.74 g/t Au

68 70.6 2.6 0.58 2.6m @ 0.58 g/t Au

82.71 83.6 0.89 0.91 .89m @ 0.91 g/t Au

PXGD0078 311917 6608457 427 111.6 -60 180 NSI

PXGD0079 311827 6608724 428 105.6 -70 85 NSI

PXGD0094 311606 6609068 422 241 -60 220 129 130 1 1.3 1m @ 1.30 g/t Au

149 150 1 0.41 1m @ 0.41 g/t Au

181.23 189.8 8.57 1.94 8.57m @ 1.94 g/t Au

198 201.8 3.8 0.43 3.8m @ 0.43 g/t Au

209.6 215.7 6.1 0.57 6.1m @ 0.57 g/t Au

218.7 220.7 2 0.61 2m @ 0.61 g/t Au

238.2 239.2 1 0.88 1m @ 0.88 g/t Au

PXGD0095 311637 6609107 422 296.04 -60 220 3 4 1 0.31 1m @ 0.31 g/t Au

61 63 2 0.95 2m @ 0.95 g/t Au

66 69 3 0.44 3m @ 0.44 g/t Au

85 86 1 0.37 1m @ 0.37 g/t Au

103 104 1 0.31 1m @ 0.31 g/t Au

111 112 1 0.41 1m @ 0.41 g/t Au

163 164 1 9.26 1m @ 9.26 g/t Au

167 168 1 0.65 1m @ 0.65 g/t Au

191 192 1 0.36 1m @ 0.36 g/t Au

242.43 254.2 11.77 2.91 11.77m @ 2.91 g/t Au

256.2 261.2 5 0.5 5m @ 0.50 g/t Au

263.59 264.4 0.81 0.46 .81m @ 0.46 g/t Au

273.12 280.19 7.07 2.38 7.07m @ 2.38 g/t Au

282.5 292 9.5 1.37 9.5m @ 1.37 g/t Au

PXGD0096 311643 6609032 422 310.26 -60 220 37 40 3 0.65 3m @ 0.65 g/t Au

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Depth (m)


To (m) Width

(m)

Grade (ppm Au)

Description

65 66 1 0.44 1m @ 0.44 g/t Au

80 81 1 0.5 1m @ 0.50 g/t Au

116 127 11 2.28 11m @ 2.28 g/t Au

141 148 7 0.61 7m @ 0.61 g/t Au

182.83 188.29 5.46 0.62 5.46m @ 0.62 g/t Au

190.67 193 2.33 0.7 2.33m @ 0.70 g/t Au

203.47 221.2 17.73 1.21 17.73m @ 1.21 g/t Au

224.15 228.21 4.06 0.56 4.06m @ 0.56 g/t Au

231.6 232.6 1 1.42 1m @ 1.42 g/t Au

234.65 234.9 0.25 0.78 .25m @ 0.78 g/t Au

247.91 254 6.09 1.95 6.09m @ 1.95 g/t Au

262 263.1 1.1 1.1 1.1m @ 1.10 g/t Au

266.96 268 1.04 0.82 1.04m @ 0.82 g/t Au

271.2 272.3 1.1 0.72 1.1m @ 0.72 g/t Au

274.58 284.06 9.48 1.19 9.48m @ 1.19 g/t Au

288.51 301.25 12.74 1.58 12.74m @ 1.58 g/t Au

303.35 309 5.65 0.95 5.65m @ 0.95 g/t Au

PXGD0097 311678 6609069 422 355 -62.7 220 3 4 1 1.88 1m @ 1.88 g/t Au

16 28 12 1.03 12m @ 1.03 g/t Au

55 60 5 0.5 5m @ 0.50 g/t Au

65 66 1 0.82 1m @ 0.82 g/t Au

89 90 1 1.86 1m @ 1.86 g/t Au

98 99 1 0.41 1m @ 0.41 g/t Au

175 179 4 0.46 4m @ 0.46 g/t Au

183 184 1 0.41 1m @ 0.41 g/t Au

217 219 2 0.35 2m @ 0.35 g/t Au

237.5 238.52 1.02 0.53 1.02m @ 0.53 g/t Au

251.3 252.27 0.97 0.75 .97m @ 0.75 g/t Au

260 261.02 1.02 0.39 1.02m @ 0.39 g/t Au

263.9 268 4.1 0.82 4.1m @ 0.82 g/t Au

271 271.56 0.56 0.75 .56m @ 0.75 g/t Au

277.32 280.3 2.98 0.98 2.98m @ 0.98 g/t Au

283.84 291.49 7.65 0.49 7.65m @ 0.49 g/t Au

294.5 295.43 0.93 0.41 .93m @ 0.41 g/t Au

298.4 304.2 5.8 0.81 5.8m @ 0.81 g/t Au

308.6 316.9 8.3 2.92 8.3m @ 2.92 g/t Au

323.5 324.5 1 0.4 1m @ 0.40 g/t Au

339.5 340.01 0.51 0.45 .51m @ 0.45 g/t Au

345 346 1 0.65 1m @ 0.65 g/t Au

PXGD0098 311683 6609002 422 300.54 -65.3 220 24 25 1 0.36 1m @ 0.36 g/t Au

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Depth (m)


To (m) Width

(m)

Grade (ppm Au)

Description

50 56 6 1.48 6m @ 1.48 g/t Au

141 144 3 1.49 3m @ 1.49 g/t Au

186.97 189.75 2.78 0.28 2.78m @ 0.28 g/t Au

194 203.59 9.59 0.57 9.59m @ 0.57 g/t Au

210.07 212.03 1.96 0.34 1.96m @ 0.34 g/t Au

215.07 223.03 7.96 0.54 7.96m @ 0.54 g/t Au

226.47 230 3.53 0.5 3.53m @ 0.50 g/t Au

232.03 235.05 3.02 1.83 3.02m @ 1.83 g/t Au

244.16 248 3.84 7.66 3.84m @ 7.66 g/t Au

257.55 260 2.45 0.28 2.45m @ 0.28 g/t Au

266.57 268.31 1.74 2.67 1.74m @ 2.67 g/t Au

276.7 277 0.3 4.08 .3m @ 4.08 g/t Au

279.42 279.72 0.3 23.09 .3m @ 23.09 g/t Au

PXGD0099 311717 6609039 422 340.2 -60 220 10 15 5 1.58 5m @ 1.58 g/t Au

22 25 3 1.09 3m @ 1.09 g/t Au

47 48 1 0.32 1m @ 0.32 g/t Au

59 64 5 4.32 5m @ 4.32 g/t Au

70 72 2 5.44 2m @ 5.44 g/t Au

83 84 1 2.86 1m @ 2.86 g/t Au

177 178 1 0.46 1m @ 0.46 g/t Au

213.28 214.65 1.37 2.69 1.37m @ 2.69 g/t Au

221.3 236.4 15.1 0.72 15.1m @ 0.72 g/t Au

243.4 246.4 3 5.58 3m @ 5.58 g/t Au

249 251.39 2.39 0.39 2.39m @ 0.39 g/t Au

253.5 262.5 9 1.67 9m @ 1.67 g/t Au

273.89 274.22 0.33 0.33 .33m @ 0.33 g/t Au

278.4 278.87 0.47 11.41 .47m @ 11.41 g/t Au

285.8 287.89 2.09 0.61 2.09m @ 0.61 g/t Au

293.64 294.6 0.96 4.43 .96m @ 4.43 g/t Au

304.36 306 1.64 0.42 1.64m @ 0.42 g/t Au

311.4 312.5 1.1 1.02 1.1m @ 1.02 g/t Au

318.27 323.13 4.86 0.44 4.86m @ 0.44 g/t Au

334 335 1 0.49 1m @ 0.49 g/t Au

338 339 1 3.63 1m @ 3.63 g/t Au

PXGD0100 311736 6608985 422 330.4 -60 220 8 12 4 0.57 4m @ 0.57 g/t Au

26 27 1 1.05 1m @ 1.05 g/t Au

45 46 1 0.91 1m @ 0.91 g/t Au

51 52 1 0.3 1m @ 0.30 g/t Au

59 60 1 0.39 1m @ 0.39 g/t Au

65 66 1 0.53 1m @ 0.53 g/t Au

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11th September 2013


Depth (m)


To (m) Width

(m)

Grade (ppm Au)

Description

69 70 1 0.51 1m @ 0.51 g/t Au

141 142 1 0.38 1m @ 0.38 g/t Au

148 161.6 13.6 1.08 13.6m @ 1.08 g/t Au

164.9 165.91 1.01 1.73 1.01m @ 1.73 g/t Au

167.95 168.64 0.69 5.5 .69m @ 5.50 g/t Au

200.18 201.8 1.62 17.83 1.62m @ 17.83 g/t Au

207.05 209.15 2.1 0.34 2.1m @ 0.34 g/t Au

215.45 225 9.55 0.86 9.55m @ 0.86 g/t Au

227.1 234.87 7.77 0.66 7.77m @ 0.66 g/t Au

239.2 240.25 1.05 0.32 1.05m @ 0.32 g/t Au

243.2 244.2 1 0.69 1m @ 0.69 g/t Au

249.2 260.76 11.56 0.67 11.56m @ 0.67 g/t Au

262.85 270.2 7.35 3.33 7.35m @ 3.33 g/t Au

276.52 276.9 0.38 0.58 .38m @ 0.58 g/t Au

281.8 284.07 2.27 0.56 2.27m @ 0.56 g/t Au

288 289 1 0.71 1m @ 0.71 g/t Au

294 294.89 0.89 0.35 .89m @ 0.35 g/t Au

297.7 298.7 1 0.76 1m @ 0.76 g/t Au

308.79 314.63 5.84 0.66 5.84m @ 0.66 g/t Au

321.2 322.2 1 0.33 1m @ 0.33 g/t Au

PXGD0101 311769 6609022 422 380.05 -60 220 5 6 1 0.55 1m @ 0.55 g/t Au

9 10 1 0.47 1m @ 0.47 g/t Au

19 21 2 1.09 2m @ 1.09 g/t Au

26 48 22 1.07 22m @ 1.07 g/t Au

94 97 3 3.98 3m @ 3.98 g/t Au

100 112 12 0.92 12m @ 0.92 g/t Au

115 118 3 1.08 3m @ 1.08 g/t Au

170 172 2 0.44 2m @ 0.44 g/t Au

176 178 2 1.75 2m @ 1.75 g/t Au

185 187 2 1.09 2m @ 1.09 g/t Au

194 195 1 0.39 1m @ 0.39 g/t Au

227.01 227.45 0.44 0.31 .44m @ 0.31 g/t Au

238.18 240 1.82 0.36 1.82m @ 0.36 g/t Au

243.7 286.96 43.26 0.92 43.26m @ 0.92 g/t Au

293 302.26 9.26 0.46 9.26m @ 0.46 g/t Au

305.8 310.58 4.78 0.66 4.78m @ 0.66 g/t Au

314.57 315 0.43 0.48 .43m @ 0.48 g/t Au

318 323.37 5.37 1.4 5.37m @ 1.40 g/t Au

326.58 339.29 12.71 0.47 12.71m @ 0.47 g/t Au

342.5 343 0.5 1.5 .5m @ 1.50 g/t Au

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11th September 2013


Depth (m)


To (m) Width

(m)

Grade (ppm Au)

Description

345.86 349.65 3.79 0.8 3.79m @ 0.80 g/t Au

353.65 354 0.35 0.45 .35m @ 0.45 g/t Au

356.41 356.88 0.47 0.44 .47m @ 0.44 g/t Au

359.9 363 3.1 5.56 3.1m @ 5.56 g/t Au

368.81 369.34 0.53 1.09 .53m @ 1.09 g/t Au

PXGD0102* 311786 6608977 422 350.16 -60 220 0 1 1 0.99 1m @ 0.99 g/t Au

22 23 1 0.54 1m @ 0.54 g/t Au

30 34 4 0.72 4m @ 0.72 g/t Au

42 43 1 0.37 1m @ 0.37 g/t Au

55 56 1 1.23 1m @ 1.23 g/t Au

62 63 1 0.32 1m @ 0.32 g/t Au

68 69 1 0.51 1m @ 0.51 g/t Au

86 87 1 0.35 1m @ 0.35 g/t Au

94 97 3 0.4 3m @ 0.40 g/t Au

109 111 2 0.72 2m @ 0.72 g/t Au

172 177 5 0.99 5m @ 0.99 g/t Au

183 185 2 2.59 2m @ 2.59 g/t Au

PXGD0103* 311828 6609020 422 400 -60 220 21 22 1 0.57 1m @ 0.57 g/t Au

33 34 1 1.08 1m @ 1.08 g/t Au

58 61 3 1.26 3m @ 1.26 g/t Au

80 83 3 0.7 3m @ 0.70 g/t Au

92 93 1 0.75 1m @ 0.75 g/t Au

111 112 1 0.57 1m @ 0.57 g/t Au

PXGD0104* 311820 6608934 422 320 -60 220 15 16 1 1.23 1m @ 1.23 g/t Au

33 34 1 0.5 1m @ 0.50 g/t Au

59 60 1 1.58 1m @ 1.58 g/t Au

88 89 1 1.91 1m @ 1.91 g/t Au

96 97 1 0.53 1m @ 0.53 g/t Au

101 102 1 0.42 1m @ 0.42 g/t Au

106 107 1 0.4 1m @ 0.40 g/t Au

114 115 1 0.42 1m @ 0.42 g/t Au

141 142 1 12.83 1m @ 12.83 g/t Au

147 148 1 0.34 1m @ 0.34 g/t Au

PXGD0105* 311852 6608973 422 360.4 -60 220 30 31 1 0.8 1m @ 0.80 g/t Au

50 60 10 1.01 10m @ 1.01 g/t Au

80 81 1 0.51 1m @ 0.51 g/t Au

86 87 1 0.58 1m @ 0.58 g/t Au

102 118 16 3.34 16m @ 3.34 g/t Au

127 128 1 3.21 1m @ 3.21 g/t Au

PXGD0106* 311871 6608916 422 280 -60 220 37 38 1 0.37 1m @ 0.37 g/t Au

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Depth (m)


To (m) Width

(m)

Grade (ppm Au)

Description

41 43 2 1.58 2m @ 1.58 g/t Au

54 55 1 0.81 1m @ 0.81 g/t Au

60 61 1 0.35 1m @ 0.35 g/t Au

89 90 1 0.32 1m @ 0.32 g/t Au

94 95 1 0.3 1m @ 0.30 g/t Au

147 148 1 0.42 1m @ 0.42 g/t Au

PXGD0107* 311901 6608955 422 320 -60 220 38 41 3 0.43 3m @ 0.43 g/t Au

70 71 1 0.39 1m @ 0.39 g/t Au

74 75 1 0.38 1m @ 0.38 g/t Au

89 92 3 0.51 3m @ 0.51 g/t Au

144 145 1 1.87 1m @ 1.87 g/t Au

168 169 1 1.01 1m @ 1.01 g/t Au

PXGD0108* 311882 6608850 422 250 -60 220 14 15 1 0.33 1m @ 0.33 g/t Au

34 35 1 0.93 1m @ 0.93 g/t Au

PXGD0109* 311915 6608887 422 300 -60 220 68 69 1 0.57 1m @ 0.57 g/t Au

72 73 1 0.35 1m @ 0.35 g/t Au

104 105 1 0.35 1m @ 0.35 g/t Au

126 127 1 0.52 1m @ 0.52 g/t Au

PXGD0110* 311910 6608811 422 370 -60 220 56 57 1 0.57 1m @ 0.57 g/t Au

71 75 4 1.2 4m @ 1.20 g/t Au

PXGD0111* 311943 6608849 422 300 -60 220 72 77 5 0.37 5m @ 0.37 g/t Au

117 118 1 0.48 1m @ 0.48 g/t Au

PXGD0112* 311924 6608745 422 230 -60 220 59 60 1 1.02 1m @ 1.02 g/t Au

149 150 1 0.72 1m @ 0.72 g/t Au

PXGD0113* 311956 6608784 422 260 -60 220 32 33 1 0.98 1m @ 0.98 g/t Au

47 48 1 0.63 1m @ 0.63 g/t Au

90 91 1 0.61 1m @ 0.61 g/t Au

114 115 1 0.58 1m @ 0.58 g/t Au

132 133 1 0.95 1m @ 0.95 g/t Au

PXGD0114* 311922 6608663 422 195 -60 220

PXGD0115* 311956 6608712 422 240 -60 220 42 43 1 0.4 1m @ 0.40 g/t Au

PXGD0117* 312026 6608697 422 290 -60 220

PXGD0118* 312044 6608658 422 290 -60 220 19 21 2 7.19 2m @ 7.19 g/t Au

139 140 1 0.63 1m @ 0.63 g/t Au

PXGD0119* 312081 6608698 422 340 -60 220 48 50 2 0.69 2m @ 0.69 g/t Au

PXGD0120* 312001 6608384 425 400 -60 40 0 6 6 1.03 6m @ 1.03 g/t Au

9 16 7 0.37 7m @ 0.37 g/t Au

23 33 10 1.11 10m @ 1.11 g/t Au

38 45 7 2.11 7m @ 2.11 g/t Au

49 59 10 0.46 10m @ 0.46 g/t Au

For

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11th September 2013


Depth (m)


To (m) Width

(m)

Grade (ppm Au)

Description

62 95 33 0.89 33m @ 0.89 g/t Au

98 99 1 0.41 1m @ 0.41 g/t Au

103 104 1 0.77 1m @ 0.77 g/t Au

123 124 1 1.09 1m @ 1.09 g/t Au

128 129 1 0.32 1m @ 0.32 g/t Au

136 137 1 7.45 1m @ 7.45 g/t Au

141 142 1 1.95 1m @ 1.95 g/t Au

148 149 1 1.19 1m @ 1.19 g/t Au

164 165 1 1.17 1m @ 1.17 g/t Au

170 171 1 0.37 1m @ 0.37 g/t Au

PXGD0121* 311749 6608664 428 400 -60 40 0 112 112 0.96 112m @ 0.96 g/t Au

116 152 36 0.67 36m @ 0.67 g/t Au

156 193 37 0.89 37m @ 0.89 g/t Au

197 200 3 2.45 3m @ 2.45 g/t Au

PXGD0122* 311692 6608761 427 450 -60 40 7 116 109 1.84 109m @ 1.84 g/t Au

120 143 23 4.75 23m @ 4.75 g/t Au

148 162 14 0.57 14m @ 0.57 g/t Au

170 186 16 0.81 16m @ 0.81 g/t Au

191 200 9 0.71 9m @ 0.71 g/t Au

PXGD0123* 311524 6608895 428 500 -60 40 0 1 1 0.98 1m @ 0.98 g/t Au

7 57 50 1.45 50m @ 1.45 g/t Au

61 89 28 1.22 28m @ 1.22 g/t Au

104 120 16 1.02 16m @ 1.02 g/t Au

126 137 11 1.58 11m @ 1.58 g/t Au

140 200 60 1.64 60m @ 1.64 g/t Au

PXGD0124* 311453 6608875 430 500 -60 40 23 24 1 1.09 1m @ 1.09 g/t Au

28 49 21 0.44 21m @ 0.44 g/t Au

53 55 2 0.41 2m @ 0.41 g/t Au

60 61 1 4.06 1m @ 4.06 g/t Au

67 72 5 0.67 5m @ 0.67 g/t Au

77 102 25 0.76 25m @ 0.76 g/t Au

109 111 2 0.74 2m @ 0.74 g/t Au

116 126 10 1.85 10m @ 1.85 g/t Au

129 142 13 1.44 13m @ 1.44 g/t Au

147 157 10 1.11 10m @ 1.11 g/t Au

160 162 2 0.46 2m @ 0.46 g/t Au

165 166 1 0.8 1m @ 0.80 g/t Au

171 172 1 1.39 1m @ 1.39 g/t Au

181 182 1 0.54 1m @ 0.54 g/t Au

185 186 1 2.68 1m @ 2.68 g/t Au

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Depth (m)


To (m) Width

(m)

Grade (ppm Au)

Description

199 200 1 2.9 1m @ 2.90 g/t Au

WPGC0001 311709 6608662 418 40 -90 0 1 39 38 0.75 38m @ 0.75 g/t Au

WPGC0003 311725 6608681 417 40 -90 0 0 33 33 1 33m @ 1.00 g/t Au

36 40 4 0.54 4m @ 0.54 g/t Au

WPGC0004 311733 6608690 417 40 -90 0 0 30 30 0.92 30m @ 0.92 g/t Au

33 35 2 0.38 2m @ 0.38 g/t Au

38 40 2 0.34 2m @ 0.34 g/t Au

WPGC0005 311741 6608700 417 40 -90 0 0 40 40 1.23 40m @ 1.23 g/t Au

WPGC0006 311704 6608675 418 40 -90 0 1 5 4 2.01 4m @ 2.01 g/t Au

11 40 29 0.66 29m @ 0.66 g/t Au

WPGC0007 311712 6608685 418 40 -90 0 3 4 1 1.08 1m @ 1.08 g/t Au

9 16 7 0.78 7m @ 0.78 g/t Au

19 24 5 0.36 5m @ 0.36 g/t Au

27 38 11 0.59 11m @ 0.59 g/t Au

WPGC0008 311720 6608694 418 40 -90 0 0 2 2 1.76 2m @ 1.76 g/t Au

5 24 19 0.6 19m @ 0.60 g/t Au

27 40 13 0.64 13m @ 0.64 g/t Au

WPGC0009 311728 6608704 418 40 -90 0 0 23 23 0.56 23m @ 0.56 g/t Au

26 29 3 0.39 3m @ 0.39 g/t Au

38 40 2 2.74 2m @ 2.74 g/t Au

WPGC0010 311736 6608713 417 40 -90 0 4 40 36 1.38 36m @ 1.38 g/t Au

WPGC0011 311743 6608722 418 40 -90 0 1 40 39 0.71 39m @ 0.71 g/t Au

WPGC0012 311694 6608683 420 35 -90 0 0 6 6 0.42 6m @ 0.42 g/t Au

9 33 24 0.58 24m @ 0.58 g/t Au

WPGC0013 311702 6608693 418 40 -90 0 0 39 39 0.68 39m @ 0.68 g/t Au

WPGC0014 311710 6608702 418 40 -90 0 5 40 35 1.37 35m @ 1.37 g/t Au

WPGC0015 311718 6608712 417 40 -90 0 0 40 40 1.08 40m @ 1.08 g/t Au

WPGC0016 311727 6608721 418 37 -90 0 1 36 35 0.91 35m @ 0.91 g/t Au

WPGC0017 311735 6608731 418 40 -90 0 0 6 6 0.57 6m @ 0.57 g/t Au

15 18 3 0.39 3m @ 0.39 g/t Au

24 33 9 1.06 9m @ 1.06 g/t Au

37 39 2 0.65 2m @ 0.65 g/t Au

WPGC0018 311677 6608702 421 40 -90 0 0 32 32 1.26 32m @ 1.26 g/t Au

WPGC0019 311685 6608711 420 40 -90 0 0 40 40 1.39 40m @ 1.39 g/t Au

WPGC0020 311693 6608721 420 40 -90 0 0 3 3 3.4 3m @ 3.40 g/t Au

7 40 33 0.88 33m @ 0.88 g/t Au

WPGC0021 311701 6608730 420 40 -90 0 0 40 40 1.39 40m @ 1.39 g/t Au

WPGC0022 311709 6608740 420 40 -90 0 2 40 38 2.66 38m @ 2.66 g/t Au

WPGC0023 311718 6608749 419 40 -90 0 0 40 40 0.86 40m @ 0.86 g/t Au

WPGC0050 311763 6608590 419 40 -60 220 5 8 3 7.07 3m @ 7.07 g/t Au

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To (m) Width

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Grade (ppm Au)

Description

WPGC0051 311771 6608599 419 40 -90 220 0 3 3 0.52 3m @ 0.52 g/t Au

14 16 2 1.35 2m @ 1.35 g/t Au

22 23 1 0.95 1m @ 0.95 g/t Au

28 31 3 1.04 3m @ 1.04 g/t Au

WPGC0052 311772 6608581 418 40 -60 220 1 2 1 1.18 1m @ 1.18 g/t Au

5 12 7 1 7m @ 1.00 g/t Au

WPGC0053 311780 6608591 418 40 -60 220 0 7 7 0.48 7m @ 0.48 g/t Au

13 15 2 4.19 2m @ 4.19 g/t Au

26 30 4 1.17 4m @ 1.17 g/t Au

WPGC0054 311788 6608600 418 40 -90 220 0 9 9 0.86 9m @ 0.86 g/t Au

14 18 4 0.54 4m @ 0.54 g/t Au

24 40 16 0.59 16m @ 0.59 g/t Au

WPGC0055 311793 6608568 418 40 -90 220 6 14 8 1.79 8m @ 1.79 g/t Au

17 18 1 0.55 1m @ 0.55 g/t Au

37 38 1 3.25 1m @ 3.25 g/t Au

WPGC0056 311801 6608577 419 40 -90 220 23 24 1 0.36 1m @ 0.36 g/t Au

32 39 7 0.59 7m @ 0.59 g/t Au

WPGC0057 311807 6608584 419 40 -90 220 3 10 7 0.47 7m @ 0.47 g/t Au

21 22 1 1.86 1m @ 1.86 g/t Au

30 39 9 0.85 9m @ 0.85 g/t Au

WPGC0058 311802 6608558 418 40 -90 220 0 1 1 0.94 1m @ 0.94 g/t Au

13 14 1 6.57 1m @ 6.57 g/t Au

30 40 10 2.19 10m @ 2.19 g/t Au

WPGC0059 311807 6608564 418 36 -90 220 25 29 4 2.37 4m @ 2.37 g/t Au

WPGC0060 311813 6608572 418 40 -90 220 1 3 2 0.32 2m @ 0.32 g/t Au

6 8 2 0.5 2m @ 0.50 g/t Au

35 40 5 2.53 5m @ 2.53 g/t Au

WPGC0061 311811 6608550 418 40 -90 220 9 12 3 0.46 3m @ 0.46 g/t Au

29 38 9 3.21 9m @ 3.21 g/t Au

WPGC0062 311817 6608557 418 40 -90 220 21 25 4 3.42 4m @ 3.42 g/t Au

34 40 6 1.18 6m @ 1.18 g/t Au

WPGC0063 311823 6608564 419 40 -90 220 0 6 6 3.74 6m @ 3.74 g/t Au

35 40 5 0.9 5m @ 0.90 g/t Au

WPGC0064 311818 6608539 417 40 -90 220 0 1 1 0.48 1m @ 0.48 g/t Au

23 24 1 0.31 1m @ 0.31 g/t Au

29 40 11 5.69 11m @ 5.69 g/t Au

WPGC0065 311826 6608549 417 40 -90 220 19 21 2 0.68 2m @ 0.68 g/t Au

26 40 14 3.03 14m @ 3.03 g/t Au

WPGC0066 311827 6608530 417 40 -60 220 2 5 3 1.23 3m @ 1.23 g/t Au

9 10 1 0.34 1m @ 0.34 g/t Au

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To (m) Width

(m)

Grade (ppm Au)

Description

20 22 2 0.41 2m @ 0.41 g/t Au

WPGC0067 311829 6608532 417 40 -90 220 24 40 16 0.74 16m @ 0.74 g/t Au

WPGC0068 311835 6608539 417 40 -90 220 0 3 3 1.24 3m @ 1.24 g/t Au

18 19 1 0.62 1m @ 0.62 g/t Au

25 40 15 2.52 15m @ 2.52 g/t Au

WPGC0069 311839 6608545 417 40 -90 220 2 6 4 0.87 4m @ 0.87 g/t Au

22 36 14 0.61 14m @ 0.61 g/t Au

39 40 1 0.65 1m @ 0.65 g/t Au

WPGC0071 311835 6608521 417 40 -90 220 2 3 1 0.7 1m @ 0.70 g/t Au

14 15 1 1.92 1m @ 1.92 g/t Au

22 23 1 0.37 1m @ 0.37 g/t Au

29 33 4 0.55 4m @ 0.55 g/t Au

36 40 4 0.45 4m @ 0.45 g/t Au

WPGC0072 311842 6608529 416 40 -90 220 1 7 6 1.62 6m @ 1.62 g/t Au

22 38 16 1.45 16m @ 1.45 g/t Au

WPGC0073 311843 6608511 417 40 -60 220 0 1 1 0.67 1m @ 0.67 g/t Au

8 9 1 0.59 1m @ 0.59 g/t Au

16 18 2 1.2 2m @ 1.20 g/t Au

27 33 6 0.42 6m @ 0.42 g/t Au

WPGC0074 311844 6608511 416 40 -90 220 2 4 2 4.44 2m @ 4.44 g/t Au

18 22 4 0.41 4m @ 0.41 g/t Au

29 36 7 1.35 7m @ 1.35 g/t Au

WPGC0075 311850 6608519 417 40 -90 220 1 2 1 1.27 1m @ 1.27 g/t Au

19 26 7 0.65 7m @ 0.65 g/t Au

36 38 2 0.78 2m @ 0.78 g/t Au

WPGC0076 311850 6608499 418 40 -60 220 4 5 1 0.31 1m @ 0.31 g/t Au

8 9 1 1.6 1m @ 1.60 g/t Au

17 37 20 0.52 20m @ 0.52 g/t Au

WPGC0077 311857 6608508 417 40 -90 220 1 2 1 1.59 1m @ 1.59 g/t Au

17 36 19 0.98 19m @ 0.98 g/t Au

Note to Table 2: Analysis by 30g or 40g Fire assay. Results compiled using a 0.3g/t Au lower cut-off. Maximum of 2m down hole dilution included. F

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STAGE MILLION OUNCES ASX: PXG, PXGOA For personal use only · 2013-09-11 · Page 2 of 51 11th...

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