The Asia Miner

JUL-SEP 2018

The ASIA Miner - Reporting Important Issues to Mining Companies in the Asia Pacific Region

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the asia miner • volume 15 • issue 3 14 FEATURE: All that glitters is gold The World Gold Council launched its Gold and climate change report, aiming to provide investors with greater clarity around gold's impacts on climate change. Marking one year since the recommendaঞons from the Taskforce on Climate-Related Financial Disclosure (TCFD), the report is an iniঞal step to build understanding of the gold industry's greenhouse gas emissions (GHG) footprint, the efforts already underway to reduce emissions and gold's role in improving energy efficiency and developing low carbon technologies. Acknowledging that limited data currently exists, the report makes a number of key findings including the total volume of carbon emissions for global gold producঞon being significantly smaller than most other major mined products, including steel, aluminium and coal. The report also recognises that gold itself may also play an important role in technologies that help facilitate the transiঞon to a low carbon economy through the use of, amongst other things, gold nanomaterials to enhance hydrogen fuel cell performance and the inclusion of gold to improve photovoltaics and how the sun's energy is captured and uঞlised Examples of current best pracঞce are used in the report to highlight the gold mining industry's shi[ towards operaঞonal changes to reduce GHG emissions and improve energy efficiency, including the design and construcঞon of the world's first all-electric mine. "Given gold's growing role as a strategic investment asset, the need for greater awareness of its climate-related impacts is a priority issue for many investors. Our iniঞal findings, based on the limited research, help investors in beer understanding gold's greenhouse gas emissions profile and gold's role as part of a diversified porolio," said Terry Heymann, Chief Financial Officer at the World Gold Council. The report's findings were reviewed by environmental scienঞsts at the Centre of Environmental Policy (CEP) at Imperial College London. World Gold Council launches climate change report Impact drilling at Commonwealth project Impact to ramp up exploration across its portfolio Exploraঞon work will be ramped up over the next six months at four of Impact Minerals 100 per cent owned gold and base metal projects across Australia. Follow up drill programmes are planned for the Commonwealth gold- silver base metal project in New South Wales, the Clermont gold project in Queensland and the Mulga Tank gold and nickel project in Western Australia. Addiঞonally, the first bulk samples will be taken at the Blackridge conglomerate gold project in Queensland in which Impact recently acquired an opঞon to earn 95 per cent. Work will commence at Commonwealth and Clermont with drill rigs likely to be operaঞng concurrently before moving on to Mulga Tank and Blackridge by approximately September/ October of this year. OVERVIEW OF THE PROGRAMME At Commonwealth, all statutory approvals are in place to commence follow up drilling at the Silica Hill Prospect where gold and very high-grade silver intercepts were returned from the previous drill programme. Step out diamond drill holes are planned to test the down dip and down plunge extensions of the mineralisaঞon. At Clermont follow up RC and diamond drilling are planned at five targets to test previous high-grade drill intercepts and rock chip and soil geochemistry anomalies. The mineralisaঞon style at Clermont indicates strong similariঞes to the high- grade, low sulphidaঞon-style Pajingo gold deposit located 250 km to the northwest with total resources of >5 million ounces at gold grades between 10 g/t and 17 g/t. The Clermont drill programme will commence on compleঞon of Land Access Agreement negoঞaঞons which are ongoing. At Mulga Tank in Western Australia, Impact has idenঞfied a significant number of gold and nickel targets for follow up work. The project comprises 20 strike kilometres of Archaean greenstone belt 200 km north east of Kalgoorlie and is highly prospecঞve for Tier 1 gold deposits such as Gruyere located 200 km to the north east with current resources of 3.8 million ounces at 1.2 g/t nickel as well as komaঞite and dunite-hosted nickel deposits. The top three gold and top two nickel targets will be tested by a programme of aircore drilling which will commence on the availability of an appropriate drill rig. At the Blackridge conglomerate gold project also located near Clermont in Queensland, bulk samples will be taken at several places along the mineralised unconformity between the gold-bearing sedimentary units and the underlying basement. A few drill holes may also be completed. A review of appropriate sampling methodologies and equipment is underway. This work will commence on compleঞon of a number of statutory agreements which are expected to be completed early in Quarter 4 2018.

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