The Asia Miner

OCT-DEC 2015

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

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68 | ASIA Miner | October-December 2015 Exploration Ramelius Resources has discovered signif- icant high grade gold mineralization with the frst deeper exploration drill hole below the shallow Milky Way open pit, which is 3.6km southwest of the Checker Gold Mill at Mt Magnet in Western Australia. The hole inter- sected 6 metres from 189 metres @ 11.64 grams/tonne gold, including 2 metres from 190 metres @ 33.4 grams/tonne. Ramelius drilled a single deep explora- tion drill hole below Milky Way, 80 metres down dip of an historical high grade gold intersection previously thought to have been closed off. The historical hole re- turned 8 metres from 100 metres @ 23.7 grams/tonne. The new high grade gold mineralization is contained within a 6 metre-wide min- eralized fault zone, interpreted to be the down dip projection of the historic inter- section. The entire length of the felsic porphyry being targeted in the deeper hole returned anomalous gold mineraliza- tion from 129 to 246 metres at the end of the hole using a 0.1 grams/tonne lower cut-off. Other intersections include 17 metres from 129 metres @ 0.56 grams/tonne, 7 metres from 152 metres @ 1.99 grams/ tonne, 21 metres from 189 metres @ 3.62 grams/tonne and 30 metres from 215 metres @ 0.82 grams/tonne. These intersections are considered by Ramelius to be highly encouraging as they demonstrate potential for a larger tonnage mineralized porphyry target within the Mt Magnet gold camp. Gold mineralisation remains open in all directions. Step out drilling to test the dip and strike continuity of the high grade fault zone and the broader mineralized porphyry unit was expected to commence before the end of September. Three deeper reconnaissance RC drill holes were completed at the Milky Way, Andromeda and Valhalla areas to target the strike extensive Hill 50 and Morning Star structural corridors for an aggregate of 696 metres. Beyond the Milky Way hole, only low order anomalous gold mineralization was intersected in the other holes which were also targeting felsic porphyry units. A single deeper RC hole was drilled to 360 metres to test the plunge extension of the Brown Hill banded iron mineralization below previous deeper drilling. Encourag- ingly, the hole intersected a 5 metre inter- val of sulphidic banded iron formation from 321metres. Ramelius owns the Mt Magnet gold min- ing and processing operation and has com- menced developing the high grade Vivien and Kathleen Valley gold mines near Leinster. The Burbanks Treatment Plant is south of Coolgar- die and is on care and maintenance. AN extensive new near-mine and regional copper exploration program at Syndicated Metals' key copper-gold projects in North Queensland has identifed a series of new exploration targets which represent priority drilling opportunities. The program is consistent with Syndicated's objective of growing its copper inventory within economic distance of the Barbara Copper-Gold Project. Syndicated completed an extensive regional airborne VTEM sur- vey across its Northern Hub project, north of Barbara, together with follow-up soil sampling over identifed VTEM anomalies to verify drill targets. Drilling was expected to begin in September. The aim of the regional exploration programs is to delineate ad- ditional copper resources within a 10-25km radius of the Barbara project, where a feasibility study is being carried out by Barbara joint venture partner CopperChem. Surveys were fown over the Ballara Saddle, Blue Star and Nep- tune prospects, 10-25km southeast of Barbara designed to frm up potential drill targets identifed during previous regional soil sampling which yielded multiple copper-in-soil anomalies. There have been more than 7700 soil samples taken at 50 metre intervals and 400 metre line spacings at these locations and at Mt Remarkable. The sampling program covers the corridor of miner- alization which is believed to fank, and originate from, a number of regional scale faults including the Mt Remarkable, Trey Bit and Wonga faults. Numerous old workings are located around the faults where Syn- dicated has mapped prospective locations for both Barbara-style high-grade shear and vein (SAV) copper mineralization as well as larger iron oxide copper gold (IOCG) style alteration zones. Detailed, closer spaced (50 metre by 25 metre) soil sampling pro- grams have been undertaken over conductors highlighted in the VTEM surveys to confrm that copper-in-soil anomalism lies above or adjacent to the conductors as a tool for prioritizing further explo- ration including initial RC drilling. The Barbara JV recently completed a single deep diamond drill hole at Barbara deposit targeting a modelled EM plate to the north of and below the proposed outline of the Barbara open pit. The hole was designed to evaluate the potential for future underground mining below the known open pit resource. The hole intersected low-grade mineralization which has down- graded the potential for future underground development at Barbara with the drill rig to be redeployed to test the new regional targets once archaeological surveys are completed. Multiple new targets near Barbara Ramelius Resources gold projects, operations, deposits and prospects are in Western Australia. High grade gold discovery at depth

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