Swit Kia Upper Zone Drilling Best Result is 0.5m Grading 46.3 g/t Gold

ADDRESS
Office J, Level 2, 1139 Hay St.
West Perth
WA, 6005, Australia
PHONE
+61 (08) 9295 0388
ABN: 96 095 684 389
EMAIL
[email protected]
WEBSITE
www.frontierresources.com.au
ASX: FNT
ASX Limited
Market Announcements Platform
12 December 2014
Swit Kia Upper Zone Drilling Best Result is 0.5m Grading 46.3 g/t Gold
Frontier Resources Ltd announces that the diamond core drilling completed last month on the Upper Zone of
the Swit Kia Prospect, EL 1595 – Bulago in Papua New Guinea (Figure 1), did not significantly intersect the
targeted high grade gold mineralisation. The best result was in hole SKD004 with 0.5m grading 46.3 g/t gold
+ 11.4 g/t silver, from 1.2m to 1.7m downhole.
Assay results from the concurrently run regional exploration and Swit Kia Jackhammer trench sampling will be
released forthwith when compiled.
The Swit Kia drilling targeted the high grade gold mineralisation related to a 45o south dipping /E-W trending
fault (dip slope) and attempted to test:
1.
Down and across (to the south) the surficial high grade gold zone.
2.
Across the host and related 70o south dipping intrusive for proximal sub-parallel (stacked) repeats of
the high grade gold.
3.
For proximal lower grade bulk gold mineralisation within the intrusive.
4.
For conformable high grade gold mineralisation (as demonstrated in April at the Lower Zone).
The intrusive was strongly silicified and fractured but lacked significant hydrothermal breccias/sulphides as
observed in the surficial high grade rocks and was only very weakly gold mineralised.
The relatively thin, high grade gold mineralisation at the Upper Zone appears to be controlled by the 45o south
dip fault (dip slope), is localised by/in the intrusive and at the contact of the relatively flat lying siltstones, but
there was no evidence for conformable gold mineralisation.
Drill Pad 1 was located in the central sector of the Swit Kia Prospect
near the top end of Trench 1 (Figure 2). One 'section fan' of five holes
was completed from drill pad 1 (Figure 3)and the sixth hole started a
new 'horizontal fan'. Drill assays are tabulated below along with drill
collar information. Additional geological information was released
5/12/2014 to which the reader is referred.
Significant Swit Kia Prospect Upper Zone Drill Results Included:
SKD001 with 0.80m grading 0.76 g/t gold + 8.6 g/t silver, from 0.00
to 0.80m.
SKD002 with 1.95m grading 0.75 g/t gold + 4.8 g/t silver, from 58.45m
to 60.4m.
SKD003 with no significant assay results.
SKD004 with 0.50m grading 46.3 g/t gold + 11.4 g/t silver, from 1.20m
to 1.70m.
SKD005 with 0.60m grading 0.91 g/t gold + 13.6 g/t silver (+741 ppm
copper in a semi massive sulphide vein), from 39.3m to 39.6m.
SKD006 with 1.90m grading 5.73 g/t gold + 9.8 g/t silver (+0.42%
zinc), from 7.40m to 9.30m.
SKD 003
SKD 002
SKD 001
Drill
Sample
Hole
Number
Number
SKD 700
SKD 701
SKD 702
SKD 703
SKD 704
SKD 705
SKD 706
SKD 707
SKD 708
SKD 709
SKD 710
SKD 711
SKD 712
SKD 713
SKD 714
SKD 715
SKD 716
SKD 717
SKD 718
SKD 719
SKD 720
SKD 721
SKD 722
SKD 723
SKD 724
SKD 725
SKD 726
SKD 727
SKD 728
SKD 729
SKD 730
SKD 731
SKD 732
SKD 733
SKD 734
SKD 735
SKD 736
SKD 737
SKD 738
SKD 739
SKD 740
SKD 741
SKD 742
SKD 743
SKD 744
SKD 745
SKD 746
SKD 747
SKD 748
SKD 749
SKD 750
SKD 751
SKD 752
SKD 753
SKD 754
SKD 755
SKD 756
SKD 757
SKD 758
SKD 759
SKD 760
SKD 761
SKD 762
SKD 763
SKD 764
SKD 765
SKD 766
SKD 767
SKD 768
SKD 769
SKD 770
SKD 771
SKD 772
SKD 773
SKD 774
SKD 775
SKD 776
SKD 777
SKD 778
Depth Downhole (m)
From
0
0.8
2
3.7
4.4
6
7.3
8.1
10.6
12
14
14.8
16
18
20
21.6
23
24
25
26
27
29
31
32
33.6
35
0
2
4
6
7.8
9
11
13
15.6
17
19
21
23
24
25
26
28
30
32
34
36
38.2
40
43
46.65
49.65
50.6
53
56
58.45
60.4
62
0
2
4
6
8
9
12
15.7
17
19
21
23
25
27
29
31.2
34
37
40
43
46
To
0.8m
2.0m
3.7
4.4
6
7.3
8.1
10.6
12
14
14.8
16
18
20
21.6
23
24
25
26
27
29
31
32
33.6
35
37.3
2
4
6
7.8
9
11
13
15.6
17
19
21
23
24
25
26
28
30
32
34
36
38.2
40
43
46.65
49.65
50.6
53
56
58.45
60.4
62
63.9
2
4
6
8
9
12
15.7
17
19
21
23
25
27
29
31.2
34
37
40
43
46
48.3
Length
0.8
1.2
1.7
0.7
1.6
1.3
0.8
2.5
1.4
2
0.8
1.2
2
2
1.6
1.4
1
1
1
1
2
2
1
1.6
1.4
2.3
2
2
2
1.8
1.2
2
2
2.6
1.4
2
2
2
1
1
1
2
2
2
2
2
2.2
1.8
3
3.65
3
0.95
2.4
3
2.45
1.95
1.6
1.9
2
2
2
2
1
3
3.7
1.3
2
2
2
2
2
2
2.2
2.8
3
3
3
3
2.3
Au
Au (R)
Ag
As
Cu
Mo
Zn
Pb
Sb
PPM
PPM
PPM
PPM
PPM
PPM
PPM
PPM
PPM
0.76
0.01
X
X
X
X
X
X
X
0.02
X
X
X
X
X
X
0.01
0.01
0.01
0.06
X
X
X
X
0.03
X
0.03
X
X
X
0.02
X
X
X
0.05
X
X
X
0.02
0.11
0.02
0.05
0.06
0.01
X
X
0.01
X
0.01
X
0.02
X
0.06
0.02
X
0.75
0.04
X
0.02
0.04
X
X
X
0.02
0.02
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
0.04
0.02
-
8.6
X
X
X
X
X
X
X
0.5
X
X
X
X
X
X
X
X
X
X
0.6
X
X
X
X
X
X
0.5
X
X
X
X
X
X
X
1
X
X
X
0.7
1.3
1.7
0.7
1
X
X
0.5
X
X
X
X
X
X
X
X
X
4.8
0.5
0.7
1.2
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
1500
114
55
17
17
10
18
17
24
15
13
16
13
13
13
12
13
15
11
18
17
16
32
21
21
17
18
12
11
16
21
25
18
22
13
14
21
12
36
23
17
13
14
13
11
17
14
12
18
22
17
17
13
15
12
1980
26
24
42
16
14
14
15
22
17
17
17
16
16
15
17
14
9
21
30
49
25
24
31
613
65
19
11
13
16
23
20
17
17
18
41
30
15
16
29
36
41
32
51
29
16
44
32
28
19
18
8
5
20
21
19
17
20
49
81
29
10
41
51
56
55
29
21
21
25
25
15
17
15
22
20
13
12
17
157
29
50
20
8
8
16
19
20
19
32
27
31
25
14
20
26
29
21
20
16
13
15
16
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
5
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
371
286
218
133
121
244
312
149
116
87
85
68
62
85
49
139
82
187
77
147
69
71
63
85
86
87
96
66
77
104
99
150
89
79
275
196
92
65
696
367
63
577
93
279
57
64
122
61
62
76
61
76
57
59
74
4000
189
211
327
145
73
110
125
84
82
100
49
59
65
66
48
72
101
103
113
78
64
94
117
1450
82
19
6
6
6
6
9
13
12
14
12
X
7
6
6
7
6
9
X
5
X
X
X
10
11
10
X
X
X
15
14
14
13
17
13
X
X
12
39
58
5
X
7
X
X
X
9
11
10
7
X
14
9
7
152
X
X
29
X
X
X
10
23
13
X
X
X
7
X
X
7
7
20
16
15
13
33
45
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
Drill
Sample
Hole
Number
Number
SKD006
SKD 005
SKD 004
SKD 779
SKD 780
SKD 781
SKD 782
SKD 783
SKD 784
SKD 785
SKD 786
SKD 787
SKD 788
SKD 789
SKD 790
SKD 791
SKD 792
SKD 793
SKD 794
SKD 795
SKD 796
SKD 797
SKD 798
SKD 799
SKD 800
SKD 801
SKD 802
SKD 803
SKD 804
SKD 805
SKD 806
SKD 807
SKD 808
SKD 809
SKD 810
SKD 811
SKD 812
SKD 813
SKD 814
SKD 815
SKD 816
SKD 817
SKD 818
SKD 819
SKD 820
SKD 821
SKD 822
SKD 823
SKD 824
SKD 825
SKD 826
SKD 827
SKD 828
SKD 829
SKD 830
SKD 831
SKD 832
SKD 833
SKD 834
SKD 835
SKD 836
SKD 837
Depth Downhole (m)
From
0
1.2
1.7
8.7
11
12
13.35
15
16.9
18
19
20
21
22
23
24
25
26
27
28
30
32
34.2
35.4
0
2
4
6
8.9
11
14
17
20
23
25.1
27
29
31
33
35
37
39.3
39.9
40.7
43
46
49
0
7.4
9.3
11
13.8
16
17.8
19
21
23
25
27
29
31
33
Swit Kia
Hole ID
SKD 001
SKD 002
SKD 003
SKD 004
SKD 005
SKD 006
Au
Au (R)
PPM
PPM
To
Length
1.2 No Sample
1.7
0.5
46.3
49.5
8.7 No Sample
11
2.3
0.1
12
1
0.02
13.35
1.35
X
15
1.65
0.04
16.9
1.9
0.03
18
1.1
0.23
19
1
0.02
20
1
X
21
1
X
22
1
0.02
23
1
0.01
24
1
0.57
25
1
0.03
26
1
0.05
27
1
0.09
28
1
0.31
30
2
0.11
32
2
X
X
34.2
2.2
X
35.4
1.2
X
37.7
2.3
X
2
2
X
4
2
X
6
2
X
8.9
2.9
X
11
2.1
0.11
14
3
X
17
3
X
X
20
3
0.01
23
3
0.08
25.1
2.1
0.01
27
1.9
0.02
29
2
0.03
31
2
X
33
2
X
35
2
X
37
2
X
39.3
2.3
0.06
39.9
0.6
0.91
40.7
0.8
0.08
43
2.3
0.08
46
3
X
49
3
0.28
53.1
4.1
0.03
7.4
7.4 No sample
9.3
1.9
5.73
11
1.7
0.03
13.8
2.8
0.03
16
2.2
0.24
17.8
1.8
X
19
1.2
X
21
2
X
23
2
X
25
2
0.01
0.01
27
2
0.02
29
2
X
31
2
X
33
2
X
35
2
X
-
Co-ordinates (AMG 66)
Northing
Easting
9400278
637070
9400278
637070
9400278
637070
9400278
637070
9400278
637070
9400278
637070
Ag
As
Cu
Mo
Zn
Pb
Sb
PPM
PPM
PPM
PPM
PPM
PPM
PPM
11.4
2.57
230
X
759
3450
35
X
X
X
X
X
X
X
X
X
0.7
X
8.6
0.7
1.1
1.7
3.7
2.2
X
X
X
X
X
X
X
X
X
X
X
X
X
X
0.7
1
X
X
X
X
1.1
13.6
1
0.5
X
X
X
156
47
21
24
41
288
28
20
21
50
41
89
20
22
27
18
26
21
26
18
40
23
13
18
17
28
24
23
25
27
24
16
19
15
16
16
21
35
21
14
19
22
29
21
14
10
26
33
28
42
21
12
26
47
45
142
48
58
60
68
46
28
28
58
26
17
12
12
19
25
26
25
25
28
30
70
59
31
26
41
30
68
741
63
49
24
27
22
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
7
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
317
136
93
101
72
86
67
60
85
444
534
727
254
802
1190
1650
629
82
95
315
80
442
108
76
102
125
143
125
101
99
86
706
338
91
187
117
200
930
3920
582
98
86
89
80
35
9
6
16
16
21
X
X
X
98
109
153
19
109
42
66
46
5
X
21
12
7
5
X
5
24
14
12
18
22
14
20
113
X
5
25
43
31
22
8
8
14
14
11
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
9.8
0.9
X
0.7
X
X
X
X
X
1.4
0.8
1.9
0.9
X
2980
75
52
49
44
19
23
14
22
27
14
16
14
14
341
48
28
33
23
26
11
21
41
55
52
42
38
30
X
X
X
X
X
X
X
X
X
X
X
X
X
X
4160
1070
324
104
86
50
56
51
184
372
374
105
54
90
450
16
11
13
10
6
X
7
25
10
8
X
X
5
X
X
X
X
X
X
X
X
X
X
X
X
X
X
Azimuth
Inclination
(mag)
(degrees)
220˚
-45
220˚
-80
220˚
-65
220˚
-42
040˚
-80
240˚
-40
Total Meters of Drilling
End of Hole
Depth (m)
37.3
63.9
48.3
37.7
53.1
35.0
275.3
For additional information relating to Frontier please visit our website at www.frontierresources.com.au
FRONTIER RESOURCES LTD
P.A.McNeil, M.Sc., MAIG
Chairman and Managing Director
Competent Person Statement:
The information in this report that relates to Exploration Results is based on information compiled by, or compiled under the supervision of Peter A.
McNeil - Member of the Aust. Inst. of Geoscientists. Peter McNeil is the Managing Director of Frontier Resources, who consults to the Company. Peter
McNeil has sufficient experience which is relevant to the type of mineralisation and type of deposit under consideration to qualify as Competent Person
as defined in the 2012 Edition of the Australasian Code of Reporting Exploration Results, Mineral Resources and Ore Resources. Peter McNeil consents
to the inclusion in the report of the matters based on the information in the form and context in which it appears.
Frontier Resources Ltd Exploration Licence Information
(SQ KM)
Latitudinal
Sub Blocks
100% Frontier Gold PNG Ltd --Under Renewal
100
30
100% Frontier Copper PNG Ltd
140
42
100% Frontier Copper PNG Ltd
493
148
20/3/2015
100% Frontier Copper PNG Ltd
347
104
12/09/2015
10% Free Carried to BFS Frontier -Torque Mining Ltd JV
109
NA
2/04/2016
10% Free Carried to BFS Frontier -Torque Mining Ltd JV
9
NA
12/05/2013
12/05/2015
10% Free Carried to BFS Frontier -Torque Mining Ltd JV
2.8
NA
ML 1/2013
3/11/2013
13/08/2018
0.13
NA
Elliott Bay
EL 20/1996
12/06/2014
11/06/2015
5% Nett Profits Interest Frontier -Torque/BCD Mining
Ltd JV -Torque Mining Ltd JV
10% Free Carried to BFS Frontier
11
NA
Wanderer River
EL 33/2010
29/03/2011
28/03/2016
10% Free Carried to BFS Frontier -Torque Mining Ltd JV
41
Licence No.
Date From
Date To
Ownership
Bulago River
EL 1595
7/07/2012
6/7/2014
Mt Andewa
ELA 2348
East New Britain
EL 1592
21/03/2013
Central New Britain
EL 1598
21/03/2013
Cethana
EL 29/2009
13/09/2010
River Lea
EL 42/2010
3/04/2011
Narrawa Creek
RL 3/2005
Stormont Mine
New Application
20/3/2015
Total PNG Area =
NB: 1.
1,080
SQ KM
1,253
The Papua New Guinea Mining Act of 1992 stipluates that ELs are granted for renewable 2 year Terms (subject to Work and Financial Commitments)
2. The PNG Government maintains the right to purchase up to 30% project equity at "Sunk Cost" if/when a Mining Lease is granted.
3.
Area
BFS = Completion of a positive and hence "Bankable" Feasibility Study into the viability of any proposed mining operation
NA
SQ KM
The following information is provided to comply with the JORC Code (2012) requirements for the reporting of exploration trenching
results for Exploration Licence (EL) 1595 in Papua New Guinea.
JORC CODE 2012
Section 1 -- Sampling Techniques and Data
Criteria
Sampling
techniques
o
o
o
Explanation
Nature and quality of sampling (e.g. cut channels, random
chips, or specific specialised industry standard
measurement tools appropriate to the minerals under
investigation, such as down whole gamma sondes, or
handheld XRF instruments, etc.). These examples should
not be taken as limiting the broad meaning of sampling.
Include reference to measures taken to ensure sample
representivity and the appropriate calibration of any
measurement tools or systems used.
Aspects of the determination of mineralisation that are
Material to the Public Report.
In cases where 'industry standard' work has been done this
would be relatively simple (e.g. 'reverse circulation drilling
was used to obtain 11m samples from which 3 kg was
pulverised to produce a 30g charge for fire assay') In other
cases more explanation may be required, such as where
there is coarse gold that has inherent sampling problems.
Unusual commodities or mineralisation types (e.g.
submarine nodules) may warrant disclosure of detailed
information.
Drilling
techniques
o
Drill sample
recovery
o
o
o
Logging
o
o
o
Sub-sampling o
techniques
and sample
o
preparation
o
o
o
o
Commentary
The drill collar was surveyed (averaged) utilising a
handheld GPS, with reference to topographic maps etc.
Logging normally included mineralisation, lithology,
weathering, alteration, structure and texture. Sampling
protocols and QAQC are as per industry best practice
procedures.
Standard industry practice sampling procedures were
followed.
Swit Kia core samples were collected in plastic trays,
photographed, assessed, saw split to half or quarter core
and sampled as indicated by the geologist. Parts of
metres, single and multiple metres relative to the
intensity of mineralisation and alteration exhibited.
The samples were driven to Lae Papua New Guinea for
preparation by Laboratory SGS Australia Pty Ltd, then
analysed in Townsville by fire assay (50g charge) for gold
and ICP for copper, molybdenum, silver, lead, zinc,
arsenic, antimony and other elements.
Samples were collected in calico bags for despatch to the
laboratory. Sample preparation was in 3-5kg pulverising
mills, followed by splitting to a 140g pulp which was
analysed by 50 gram Fire Assay and Inductively Coupled
Plasma Optical (Atomic) Emission Spectrometry Multiacid digest including Hydrofluoric, Nitric, Perchloric and
Hydrochloric acids.
Drill type (e.g. core, reverse circulation, open-hole hammer, Triple tube HQ core drilling. No orientations (no tool) or
rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. downhole surveys (too short to bother at this stage).
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.).
Method of recording and assessing core and chip sample
Paper logs translated to digital.
recoveries and results assessed
Measures taken to maximise sample recovery and ensure
No drilling meterage bonus paid and we aim for 100%
representative nature of the samples.
core recovery.
Whether a relationship exists between sample recovery and No.
grade and whether sample bias may have occurred due to
preferential loss/gain of fine/coarse material.
Whether core and chip samples have been geologically and Yes.
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.
Geological logging was quantitative in nature. Core was
Core (or costean, channel, etc.) photography.
photographed.
The total length and percentage of the relevant
275.3m
intersections logged
If core, whether cut or sawn and whether quarter, half or
Sawn and both half and quarter core was sampled.
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
Half and quarter core was sampled.
appropriateness of the sample preparation technique.
Quality control procedures adopted for all sub-sampling
No sub sampling.
stages to maximise representivity of samples.
Measures taken to ensure that the sampling is
Half and quarter core was sampled generally on a
representative of the in situ material collected, including for lithological basis
instance results for field duplicate /second-half sampling.
Whether sample sizes are appropriate to the grain size of
Appropriate
the material being sampled.
Quality of
assay data
and
laboratory
tests
o
The nature, quality and appropriateness of the assaying and Assaying techniques utilised can be considered to be
laboratory procedures used and whether the technique is
appropriate. For the ICP analyses, the technique is
considered partial or total.
considered to be 'total'. Over-range elements were run
to determine their actual values.
Nature of quality control procedures adopted (e.g.
standards, blanks, duplicates, external laboratory checks)
Acceptable levels of accuracy and precision were
and whether acceptable levels of accuracy (i.e. lack of bias) established with duplicate and repeat analyses by the
and precision have been established.
laboratory.
For geophysical tools, spectrometers, handheld XRF
No such tools used.
instruments, etc., the parameters used in determining the
analysis including instrument make and model, reading
times, calibrations factors applied and their derivation, etc.
o
o
Verification
of sampling
and assaying
Location of
data points
o
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 adjustments to assay data.
Accuracy + quality of surveys used to locate drill holes
(collar + 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.
Data spacing for reporting of Exploration Results.
o
o
o
o
O
O
Data spacing
and
distribution
Orientation
of data in
relation to
geological
structure
o
o
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.
Whether the orientation of sampling achieves unbiased
sampling of possible structures to the extent this is known,
considering the deposit type.
o
o
o
Sample
security
o
Audits or
reviews
o
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.
The measures taken to ensure sample security
Verified by Consultant Geologists J.Kirakar and K.Igara.
No holes have been twinned.
Primary data was collected manually then loaded into
the database.
No adjustments/calibrations have been made to assays.
Not applicable. A hand held GPS (waypoint averaged)
was used to determine drill collar locations.
Map datum is AGD 066.
40m contours - 1:100,000 plans, 20m -SRTM contours.
Refer to the attached plans for details relating to the
data spacing of exploration results.
The current data spacing and distribution is insufficient
to establish the degree of geological and grade
continuity appropriate for the Mineral Resource and
Ore Reserve estimation.
No sample compositing has been applied.
The orientation of sampling achieves unbiased sampling
of possible structures to the extent to which this is
known, considering the deposit type and outcrop
available to sample.
The relationship between the drilling orientation and the
orientation of key mineralised structures is not
considered to have introduced any sampling bias.
Samples were retained by Company personnel until they
were despatched at the Lae laboratory. There are no
issues with sample security or chain of custody.
The results of any audits or reviews of sampling techniques No specific audits or reviews of sampling techniques and
and data.
data have been undertaken.
Section 2 -- Reporting of Exploration Results
Criteria
Mineral
tenement and
land tenure
status
o
o
Exploration
done by other
parties
o
Geology
o
Explanation
Commentary
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.
Exploration Licence (EL) 1595 - Bulago is located in Papua New
Guinea's Hela Province and ELs are regulated under the Mining
Act of 1992 (currently under review).
There no agreements or material issues with third parties such as
joint ventures, partnerships, overriding royalties, native title
interests, historical sites, wilderness or national park and/or
environmental issues associated with the EL.
The PNG National government under the Mining Act of 1992
currently has the right to acquire up to 30% of any project at the
time of granting of a mining lease for the 'sunk cost'.
The security of the tenure held at the time of
The tenement is in good standing and FNT is now seeking
reporting along with any known impediments to renewal. No known impediments exist apart from the geographic
obtaining a licence to operate in the area.
isolation and the necessity for creating and maintaining good
relationships with amicable, strongly development minded local
landowners.
Acknowledgment and appraisal of exploration
Exploration in the region was initiated in the late 1960s as part of
by other parties.
a PNG porphyry copper deposit search. It was explored for gold
initially in the early'/mid 1980's, with little work since 1988,
except for FNT.
Deposit type, geological setting and style of
High grade gold intrusive -epithermal related targets, higher
mineralisation.
grade gold -silver-zinc-lead magnetite skarns and porphyry
copper-gold - molybdenum targets.
Drill hole
information
o
o
Data
aggregation
methods
o
o
Relationship
between
mineralisation
widths &
intercept
lengths
o
o
o
Diagrams
o
Balanced
reporting
o
Other
substantive
exploration
data
o
Further work
O
O
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:
Included in the text.
Easting and northing of the drill hole collar
Elevation or RL (Reduced Level- elevation
above sea level in metres) of the drill hole collar
Dip and azimuth of the hole
Down hole length and interception depth
Hole length
If the exclusion of this information is justified on
the basis that the information is not Material
and this exclusion does not detract from the
understanding of the report, the Competent
Person should clearly explain why this is the
case.
Included in the text.
Included in the text.
In reporting Exploration Results, weighting
averaging techniques, maximum and/or
minimum grade truncations (e.g. 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.
These relationships are particularly important
in the reporting of Exploration Results.
If the geometry of the mineralisation with
respect to drill hole angle is known, its nature
should be reported.
Tables of results included show data aggregation if applied in
trench/channel samples etc. No top cuts have been applied. They
are continuous samples and so are stated as continuous weighted
assay results (length x grade summed for each sample / sum of
total length).
If this occurs, it is stated in the text.
If it is not known and only the down hole
lengths are reported, there should be a clear
statement to this effect (e.g. 'down hole length,
true width not known').
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.
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.
Other exploration data, if meaningful and
material should be reported including (but not
limited to): geological observations;
geophysical survey results; geochemical survey
results; bulk samples - size and method of
treatment; metallurgical test results; bulk
density, groundwater, geotechnical and rock
characteristics; potential deleterious or
contaminating substances
The nature and scale of planned further work
(e.g. 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.
Included in the text.
Included in the text.
Included in the text.
No metal equivalent values are reported.
The 'down' outcrop or downhole sampled lengths have been
reported because the geometry of the mineralisation with
respect to the sampling orientation has not been properly
constrained.
Appropriate maps, sections and tabulations of intercepts are
included.
Comprehensive reporting of Exploration Results has been
previously completed and released.
All meaningful exploration data has been included in this and
previous releases.
Future drilling is dependent on a capital raising to be undertaken.
Appropriate plans will be included, where possible in a later
release documenting approved future work programs.

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