JORC Report
The Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (‘the JORC Code’) is a professional code of practice that sets minimum standards for Public Reporting of Minerals Exploration Results, Mineral Resources and Ore Reserves.
JORC refers to the mining industry’s official code for reporting exploration results, mineral resources and ore reserves, managed by the Australasian Joint Ore Reserves Committee. “Modifying factors” are considerations used to convert resources to reserves. The summary of topics of the company’s JORC Code Report are as follows and discussed below:-
Nukinenda Dyke Location
Geology
Mineralisation
Mineral Grades
Resource Estimate
Further Potential in Mineral Freeholds
Potential Outside the Mineral Freeholds
The company’s JORC reports are important for our valuing the resource, planning and funding. It is important to understand that the JORC Code (2012) is a professional code of practice that promotes robust standards for the public reporting of exploration results, mineral resources and ore reserves.
THE NUKINENDA DYKE JORC SUMMARY
Nukinenda Dyke Location
The Nukinenda Dyke is located some 30kms north of the town of Crows Nest in S.E. Queensland in rough cattle grazing country.
Geology
The granodiorite dyke is of late Permian to Triassic age intruded into Late DevonianEarly Carboniferous Maronghi Creek beds. The dyke is approximately 8 metres wide trending NW-SE and has been traced by Kondor Gold on the surface for some 3 km. It dips sub-vertically at approximately 75 degrees to the south-west. It extends to more than 50 metres based on drilling by previous exploration companies.
Mineralisation
The main area of interest lies on two mineral freeholds, one on each side of Nukinenda Creek where the Dyke has been prospected by sampling, costeaning and drilling. The Dyke contains gold in arsenopyrite of a variable grade in, and as seen, fine to massive mineral occurrences. Most of the gold appears to be in fine grains enclosed by arsenopyrite as shown in photomicrographs. There may be an association of mineralisation with structure cutting across the Dyke. The gold bearing arsenopyrite appears to be associated with fractures and flat lying quartz veins.
Mineral Grades
Sampling from old shafts, workings; and recent costeans, drill core, rotary drilling and surface sampling have been conducted over a 600 metre interval of the dyke crossing Nukinenda Creek which lies approximately at the centre of this zone.
Resource Estimate
The data indicates the potential for an inferred resource estimate over 300mtrs of the Dyke section on the south-east side of Nukinenda Creek with an average grade of some 2 grams per tonne of gold and 1% arsenic metal.
Total Tonnage = 312,000 tonnes
From the gold grade data, based on drilling results over the 300mtr strike interval, an average gold grade of 2 grams/tonne has been used for JORC estimates.
The company’s estimated Inferred in-situ Gold resource is:- 624,000 grams or 20,064 ozs.
Further Potential in Mineral Freeholds
The 400m interval of the Dyke drilled and sampled on the NW side of Nukinenda, has shown lower grades from wider and less sampling and drilling. There is potential to improve these grades with closer and deeper drilling.
Potential Outside the Mineral Freeholds
The Dyke has been mapped for more than 1.5 km to the NW where additional arsenopyrite has been identified in some surface samples collected in this area. Gold analyses are not available.
To the SE of the Mineral Freeholds the Dyke has been identified extending towards the Milford Rocks gold occurrence. It has not been clearly established if the Milford Rocks gold occurrence in breccia and forms the southern end of the Nukinenda Dyke.
Arsenopyrite has been identified in the Nukinenda Dyke extending past the Mineral Freeholds to the South East.
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