Resource Summary

RESOURCE SUMMARY AS AT NOVEMBER 2015

HARGRAVES Tonnes Grade g/tAu Contained gold oz
Big Nugget Hill 
Indicated 1,262,000 3.5 143,000
Inferred 1,594,000 2 102,000
sub-total 2,856,000
2.7
245,000
HILL END
Hawkins Hill - Reward
Measured 77,400 11.3 28,100
Indicated 180,400 6.5 37,700
Inferred 642,200 8.8 181,000
sub-total 900,000 8.6 246,800
Red Hill
Indicated 413,000 1.4 18,600
  Inferred 1,063,000 1.8 61,400
  sub-total 1,475,000
1.7
80,000
TOTAL HILL END and HARGRAVES 5,231,000 3.4 571,800

 *Red Hill JORC 2012 and others JORC 2004 compliant as at November 2015. Numbers include insignificant rounding errors.

Cutoff Grades

DEPOSIT ESTIMATION METHOD
Big Nugget Hill 0.5g/t gold per block and inverse distance squared grade interpolation.
Reward 1g/t gold over minimum horizontal width of 1.1 metre and an inverse distance squared grade interpolation.
Red Hill 0.5g/t gold Ordinary Kriged model to RL700m.

 

Big Nugget Hill Deposit, Hargraves
The Big Nugget Hill resource estimate is based on detailed geological logging and sampling of 125 diamond drillholes (21,250 metres), 60 reverse circulation drillholes (4,210 metres) and rigorous interpretation of the orebody model. Sample assays were performed using a combination of whole sample leaching, fire assay and screen fire assay. The deposit was manually interpreted and wireframed using detailed structural data for resource estimation using the inverse distance squared method. The resource is reported at a block cut off grade of 0.5 g/t gold.

Hawkins Hill – Reward Deposit, Hill End
The estimate is for the Reward (northern) portion of the Hawkins Hill – Reward Deposit only and includes those areas which have provided drilling or development data and some areas adjacent to old workings within a strike length of 750m and depth of 300m below surface.  However, the deposit continues along strike for a total of four kilometres and at depth.  Further drilling from surface and underground is expected to increase the Hawkins Hill - Reward resources over time.

The Hawkins Hill – Reward resource estimate is based on two main sources of data.  The first is a block model estimated resource which is based on a cutoff grade of 2g/t gold over a minimum horizontal width of 1.1 metre and an inverse distance squared gold grade influence.  The block model criteria were calibrated against production during the 2009 Financial Year with a 104% reconciliation, which is slightly conservative.  The Measured, Indicated and Inferred categories are estimated according to proximity to data from drilling, development and stope sampling.  The second model used to estimate inferred resources only is based on our understanding of the controls of the gold mineralisation in the deposit and extrapolation of resources from previous workings in areas of low drilling information.

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