METALIKO RESOURCES LIMITED Metaliko Resources Limited (ASX: MKO) wishes to provide additional information to the Company's 2015 Annual Report in accordance with Listing Rule 5.21.
2015 Annual Report - New pages 23 - 24:
Metaliko Resources Limited's JORC Compliant Mineral Resources comprise estimates for the Corboys (Yandal Gold Project) and the Anthill and Goongarrie Lady Deposits (Kalgoorlie Gold Project). Location and tenement details have been included in this report. The only commodity estimated is gold.
The Mineral Resource Estimate for the Corboys Deposit was prepared and first disclosed under the JORC Code 2012. The Mineral Resource Estimate for the Anthill Deposit was prepared and first disclosed under the then current JORC Code 2004. The Mineral Resource Estimate for the Goongarrie Lady Deposit was prepared and first disclosed under the JORC Code 2012.
The Anthill Mineral Resource Estimate has not been updated since to comply with the new JORC Code 2012 on the basis that the information has not materially changed since it was last reported. The Company will report any future mineral resources and reserve estimates in accordance with the 2012 JORC Code.
Due to the nature, stage and size of the Company's existing operations, the Company believes there would be no efficiencies gained by establishing a separate mineral resources and reserve committee responsible for reviewing and monitoring the Company's processes for calculating mineral resources and reserves and for ensuring that the appropriate internal controls are applied to such calculations. However, the Company ensures that all Mineral Resource and Reserve Estimate calculations are prepared by a competent, senior geologist and are reviewed and verified independently by a qualified person.
COMPARISON MINERAL RESOURCES AND ORE RESERVES TABLE FOR 2014 AND 2015Resource/JORC Code | Date | Category | Cumulative Tonnes | Lower Cut g/t | Au g/t | Au oz |
Corboys (YGP)1 2012 | June 2015 | Total - Indicated | 700,300 | 1.50 | 2.17 | 48,900 |
Corboys (YGP)1 2012 | June 2014 | - | - | - | - | - |
Anthill (KGP)2 2004 | June 2015 | Indicated | 918,000 | 0.50 | 0.96 | 28,300 |
Anthill (KGP)2 2004 | June 2015 | Inferred | 4,268,000 | 0.50 | 0.96 | 131,700 |
Total - Ind + Inf. | 5,186,000 | 0.50 | 0.96 | 160,000 | ||
Anthill (KGP)2 2004 | June 2014 | Indicated | 918,000 | 0.50 | 0.96 | 28,300 |
Anthill (KGP)2 2004 | June 2014 | Inferred | 4,268,000 | 0.50 | 0.96 | 131,700 |
Total - Ind + Inf. | 5,186,000 | 0.50 | 0.96 | 160,000 | ||
Goongarrie (KGP)3 2012 | June 2015 | Total - Indicated | 249,863 | 1.00 | 2.87 | 23,000 |
Goongarrie (KGP)3 2012 | June 2014 | Total - Indicated | 249,863 | 1.00 | 2.87 | 23,000 |
The 2015 Corboys Gold Deposit Mineral Resource Estimate is the first one compiled by the Company since acquisition of the Yandal Gold Project (YGP). Detailed notes to the Corboys Resource are presented in the Review of Operations section of this report. No resource statement for the Corboys Deposit was included in the 2014 Annual Report.
The 2015 Anthill Gold Deposit Mineral Resource Estimate is unchanged from 2014. Any slight errors are due to rounding. For grade reporting the minimum cutoff grade used was 0.50 g/t Au and a top cut of 20g/t has been applied.
The Goongarrie Lady Gold Deposit Mineral Resource Estimate is unchanged from 2014. The resource is calculated to ~60m depth with a 1.00g/t Au minimum cutoff grade and 20g/t top cut. The modelling and calculation techniques are similar to what was used in the previous 2012 resource (ID2), however the current Mineral Resource Estimate includes additional drilling and ore block outlines delineated since 2012. There were also some minor changes such as accurate survey pickups, QA/QC improvements in the understanding of the ore zones and discussions with earthmovers and toll treatment facilities, overall these are more consistent with the JORC 2012 guidelines. Any slight errors are due to rounding.
COMPETENT PERSONS STATEMENTMetaliko Resources Limited advises in accordance with Australian Stock Exchange Limited Listing Rules 5(6) that the exploration results contained within this Annual Report are based on information compiled by Mr David O'Farrell who is a member of the Australian Institute of Mining and Metallurgy. Mr O'Farrell is a consultant working for Metaliko Resources Limited and has consented in writing to the inclusion in this Annual Report of matters based on the information so compiled by him in the form and context in which it appears. Mr O'Farrell has sufficient experience relevant to the style of mineralisation and types of deposit under consideration to be qualified as a Competent Person as defined by the 2012 Edition of the 'Australasian Code for reporting of Exploration Results, Mineral Resources and Ore Reserves'.
The information in this report that relates to the Mineral Resource Estimates at The Corboys Deposit and the Goongarrie Lady Deposit has been compiled by Mr Simon Coxhell. Mr Coxhell, who is a member of the Australian Institute of Mining and Metallurgy, is an
independent consultant to Metaliko Resources Limited. Mr Coxhell has sufficient experience that is relevant to the styles of mineralisation and types of deposit under consideration and to the activity that he is undertaking to qualify as a Competent person as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Coxhell consents to the inclusion in this report of the matters based on his information in the form and context that the information appears.
The information in this report that relates to the Mineral Resource Estimate at the Anthill Project is based on information prepared by Phil Jankowski, who is a Director of Baltica Consulting Pty Ltd and was formerly a full time employee of SRK Consulting when he completed the Estimate. Mr Jankowski is a member of the Australasian Institute of Mining and Metallurgy and has sufficient experience which is relevant to the style of mineralisation and deposit under consideration to qualify as a competent person as defined in the 2004 Edition of the Australasian Code for Reporting of Mineral Resources and Ore Reserves. Mr Jankowski has consented to the form and context of the resource statement included here.
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