ORBIS GOLD LTD 
By 29 January 2014
NEW GOLD DRILL TARGETS DEFINED IN BANTOU PROJECT AREA ‐ INCLUDES NEW GEOPHYSICAL ANOMALIES AND "NUGGETY" GOLD IN SHALLOW ARTISANAL PITSHighlights:
• New highly prospective gold drill targets defined in Bantou Project area approximately 1km south and south‐west of Orbis Gold's Bantou gold deposit.
• Expanded induced polarisation (IP) geophysical survey defines strong linear anomalies (extending over an aggregate 10km strike length) interpreted as potential new gold mineralised structures.
• New shallow artisanal gold workings recorded in the Bantou West area over an approximate
300m by 400m area ‐ workings generating coarse gold nuggets. • New IP anomalies and artisanal workings located within and adjacent to large high‐order gold in soil anomalies (+20ppb Au) (previously reported).• Geophysical (IP) surveys anticipated to be completed within next 4 weeks ‐ drilling of multiple gold targets to commence during current quarter.
Gold nugget recovered from artisanal workings in the Bantou West area.ASX Code: OBS 1 www.orbisgold.com
New Gold Drill Targets Defined at Bantou Gold Project
Orbis Gold Limited (ASX:OBS) is pleased to announce that it has identified significant new gold drill targets within its Bantou Project area, south‐west Burkina Faso (Figure 1).
The new gold targets are defined by a combination of:
• high order gold‐in‐soil anomalies (previously reported)
• new structural gold targets defined by electrical geophysical surveys (new results reported below)
• shallow artisanal gold workings producing coarse gold nuggets (new results reported below).
The new results further demonstrate the potential for significant gold discoveries within the broader project area.
The Bantou Gold Prospect is defined by a large‐scale high‐order gold in soil anomaly that extends over an approximate 3km by 4km area in the centre of the Dynikongolo exploration permit (Figure 1).
Drilling to date within the Bantou Prospect has focussed on artisanal gold workings in the centre of the prospect area (Figure 2).
Successive drilling programs completed by Orbis in the vicinity of the Bantou workings identified multiple gold mineralised structures over a 700m strike length and to a maximum 160m depth (the maximum depth of drilling).
Gold mineralisation within the Bantou gold deposit remains open at depth and along strike to the south.
ASX Code: OBS 2 www.orbisgold.com
Orbis has recently completed an expanded induced polarisation (IP) geophysical survey in the Bantou
Prospect area to map out potential gold mineralised structures in bedrock ( 1 ).
Results for the expanded IP survey have now been received. The expanded survey has defined multiple strong linear anomalies with a combined strike length of approximately 10 kilometres (Figure 3).
The IP results include:
• a strong linear IP anomaly in the Bantou West area that is coincident with a discrete high order soil anomaly (Figure 3)
• a strong linear IP anomaly that represents a possible direct southern strike extension to the structure/s hosting the Bantou gold deposit (note that in this area there is no coincident soil anomaly which may indicate that if a mineralised extension to the Bantou deposit is present it may be masked at surface by cover) (Figure 3), and
• a wide zone of multiple sub‐parallel IP anomalies in the Bantou East area that represent a possible southern strike extension to the stratigraphy and gold mineralised structures recently discovered by Orbis in reconnaissance drilling to the north (refer drill hole DYRC059 in Figure 3).
All IP anomalies represent new high priority drill targets.
All IP anomalies are "open" at the southern limit of the expanded survey area.
Strong potential exists to extend the anomalies, and scale of the gold targets, through a further expansion to the geophysical survey area.
Small‐scale artisanal mining activities have recently been identified within the Bantou West target area over an approximate 300m by 400m area (Figures 2 and 3).
The artisanal gold workings lie within the large‐scale Bantou West gold‐in‐soil anomaly and are partially contiguous with the recently defined Bantou West IP geophysical anomaly (refer Figures 2 and 3).
The artisanal workings are predominantly targeting alluvial gold mineralisation and have generated coarse gold nuggets from with shallow drainage channels (and possible in‐situ laterite) (Figure 4).
The presence of the coarse gold nuggets within artisanal workings further demonstrates the significant prospectivity of the Bantou Project area for both alluvial and bedrock gold mineralisation. The alluvial mineralisation may also indicate proximity to a new undefined source of bedrock gold mineralisation.
Rock chip samples have been collected from within weathered laterite exposed in the shallow artisanal workings. Assays are awaited.
(1) IP surveys are undertaken by inducing an electrical current into the earth to measure the resulting electrical effects of the surrounding rocks. Resistivity and chargeability responses detected can be associated with sulphides and gold mineralisation associated with the sulphides and/or the electrical properties of the surrounding host rocks.
ASX Code: OBS 3 www.orbisgold.com
ASX Code: OBS 4 www.orbisgold.com
Figure 4 ‐ Bantou West artisanal gold workings (inset gold nugget). Bantou Forward Program
Induced polarisation (IP) geophysical surveys are continuing over the broader Bantou Project area.
The IP surveys are anticipated to be completed over the next 4 weeks and will provide geophysical coverage over all high order soil anomalies within the Bantou Project area ‐ incorporating the Bantou, Tankoro and Safia Prospects.
Upon completion of the IP surveys Orbis intends to implement a program of broad‐spaced
(reconnaissance) drilling across all priority gold targets within the Bantou Project area.
The Company looks forward to providing future updates on the progress of its ongoing exploration and development programs for the Bantou Gold Project.
For more information please contact: | ||
Mr Peter Spiers Managing Director Ph: +61 (0)7 3198 3040 Mob: +61 (0)409 407 265 | Mr Peter Harding‐Smith Company Secretary Ph: +61 (0)7 3198 3040 Mob: +61 (0)488 771 588 | Corporate Office Level 32, 10 Eagle Street Brisbane QLD 4000 Australia Ph: +61 (0)7 3198 3040 Email: info@orbisgold.com ACN 120 212 017 |
Further information on Orbis Gold can also be found on our website www.orbisgold.com |
ASX Code: OBS 5 www.orbisgold.com
About Orbis Gold
Orbis Gold Limited (ASX: OBS) is an Australian‐based resource company focussed on the discovery and development of large‐scale gold deposits in the world's premier mineral provinces.
The Company holds a substantial tenement position in the Birimian Gold Province of West Africa ‐ a world‐class gold province with more than seventy +1Moz gold deposits discovered to date.
The Company's gold projects are located in Burkina Faso, a country that is highly supportive of modern mine development and is experiencing a rapid growth in gold production. Seven new large‐scale gold mines have been developed in Burkina Faso over the past seven years.
Orbis commenced exploration activities in Burkina Faso in 2010 and has achieved substantial exploration success. To date the Company has announced multiple gold discoveries that include two of the highest‐ grade undeveloped deposits in West Africa ‐ Natougou and Nabanga. Orbis has also established an additional portfolio of highly prospective exploration projects across the country including the advanced stage Bantou Gold Project.
In January 2014 Orbis was awarded the "Explorer of the Year" by the Gold Mining Journal.
About Bantou Gold Project
The Bantou Gold Project is located in south‐west Burkina Faso approximately 320 kilometres from the capital, Ouagadougou. Exploration in the Bantou Project area is currently focussed with the 250km2
Dynikongolo exploration permit.
In September 2012 Orbis announced that it had defined three large scale soil anomalies (+20ppb Au) within the Dynikongolo permit. Each of the multi‐kilometre long soil anomalies (referred to as the Bantou, Tankoro and Safia Prospects) offer potential for large‐scale gold discoveries (Figure 5).
Drilling to date within the Bantou Project has focussed on artisanal gold workings in the Bantou (central) Prospect area. Successive drilling programs completed at Bantou identified multiple gold mineralised structures over a 700m strike length and to a maximum 160m depth (the maximum depth of drilling).
Gold mineralisation within the Bantou deposit remains open at depth and along strike to the south.
In May 2013 Orbis announced the discovery of a new gold mineralised structure from first pass reconnaissance drilling in the Tankoro Prospect area. Artisanal gold workings subsequently developed along strike from the Tankoro discovery drill holes exposed porphyry‐hosted gold mineralisation in multiple lodes over a 700m strike length thereby establishing Tankoro as a significant new gold discovery.
No drilling has been completed to date at the Safia (northern) Prospect area.
Orbis is currently completing a detailed induced polarisation (IP) geophysical survey over all high order soil anomalies across the broader Bantou Project area. Results from the IP surveys to date have defined more than 20 strike kilometres of prospective geophysical anomalies that require detailed drill testing.
A significant drilling program is proposed during 2014 to assess the multiple highly prospective gold targets defined across the Bantou Project area.
ASX Code: OBS 6 www.orbisgold.com
Soli SampGrid
(ppb Au)
• ·50
.201050
0 10 IO 20
Figure 5 - Location of advanced gold prospects within the greater Bantou Project area.
ASX Code: 085 7 www . orbi sgo ld . com
Appendix 1 ‐ Assessment and Reporting CriteriaSECTION 1 ‐ SAMPLING TECHNIQUES AND DATA
Criteria | JORC Code explanation | Commentary |
Sampling techniques | Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. | This report relates to results for a Gradient Array Induced Polarization (IP) geophysical survey. |
Sampling techniques | Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. | Gradient array survey parameters: ‐ current transmission dipole AB: 3000M ‐ receiving bipole MN: 40M ‐ readings spacing : 20M Integration windows: 10 with equal width of 160 milliseconds (Elrec‐6) |
Sampling techniques | 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 (eg 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g 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 (eg submarine nodules) may warrant disclosure of detailed information. | Results of the gradient array IP survey are presented as colour contour maps showing both resistive/conductive and chargeability signatures. |
Drilling techniques | Drill type (eg core, reverse circulation, open‐hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg 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). | Not applicable to the information announced in this report. |
Drill sample recovery | Method of recording and assessing core and chip sample recoveries and results assessed. | Not applicable to the information announced in this report. |
Drill sample recovery | Measures taken to maximise sample recovery and ensure representative nature of the samples. | Not applicable to the information announced in this report. |
Drill sample recovery | Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. | Not applicable to the information announced in this report. |
Logging | Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. | Not applicable to the information announced in this report. |
Logging | Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. | Not applicable to the information announced in this report. |
Logging | The total length and percentage of the relevant intersections logged. | Not applicable to the information announced in this report. |
Sub‐sampling techniques and sample preparation | If core, whether cut or sawn and whether quarter, half or all core taken. | Not applicable to the information announced in this report. |
Sub‐sampling techniques and sample preparation | If non‐core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. | Not applicable to the information announced in this report. |
Sub‐sampling techniques and sample preparation | For all sample types, the nature, quality and appropriateness of the sample preparation technique. | Not applicable to the information announced in this report. |
Sub‐sampling techniques and sample preparation | Quality control procedures adopted for all sub‐sampling stages to maximise representivity of samples. | Not applicable to the information announced in this report. |
Sub‐sampling techniques and sample preparation | Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second‐half sampling. | Not applicable to the information announced in this report. |
Sub‐sampling techniques and sample preparation | Whether sample sizes are appropriate to the grain size of the material being sampled. | Not applicable to the information announced in this report. |
Quality of assay data and laboratory tests | The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. | Not applicable to the information announced in this report. |
Quality of assay data and laboratory tests | For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. | Gradient Array IP survey instrument details: Types of instrument Models Manufacturers Transmitter VIP‐4000 Iris Instruments Generator EM65is / 6.0 kVA Honda Receiver Elrec‐pro/Elrec‐6 Iris Instruments |
Quality of assay data and laboratory tests | Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established. | Not applicable to the information announced in this report. |
ASX Code: OBS 8 www.orbisgold.com
Criteria | JORC Code explanation | Commentary |
Verification of sampling and assaying | The verification of significant intersections by either independent or alternative company personnel. | Not applicable to the information announced in this report. |
Verification of sampling and assaying | The use of twinned holes. | Not applicable to the information announced in this report. |
Verification of sampling and assaying | Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. | Not applicable to the information announced in this report. |
Verification of sampling and assaying | Discuss any adjustment to assay data. | Not applicable to the information announced in this report. |
Location of data points | Accuracy and quality of surveys used to locate drill holes (collar and down‐hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. | Not applicable to the information announced in this report. |
Location of data points | Specification of the grid system used. | The grid system used is WGS84. A northern hemisphere zone is applied that is applicable to the location of individual project areas. |
Location of data points | Quality and adequacy of topographic control. | A detailed topographic survey of the project area has not been conducted. |
Data spacing and distribution | Data spacing for reporting of Exploration Results. | Measurements were taken at 20m intervals along 80m spaced lines. |
Data spacing and distribution | 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. | Not applicable to the information announced in this report. |
Data spacing and distribution | Whether sample compositing has been applied. | Not applicable to the information announced in this report. |
Orientation of data in relation to geological structure | Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. | IP grid survey lines were oriented at 118o (roughly perpendicular to the observed trend of mineralized structures). |
Orientation of data in relation to geological structure | 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 if material. | Not applicable to the information announced in this report. |
Sample security | The measures taken to ensure sample security. | Not applicable to the information announced in this report. |
Audits or reviews | The results of any audits or reviews of sampling techniques and data. | No review of the geophysical survey has been conducted. The survey was conducted by a specialist independent contractor experienced in both the type of survey completed and the completion of geophysical surveys in the West African environment. |
SECTION 2 ‐ REPORTING OF EXPLORATION RESULTS
Criteria | JORC Code explanation | Commentary |
Mineral tenement and land tenure status | 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. | The Dynikongolo Exploration Permit ‐ which encompasses the Bantou, Tankoro and Safia Gold Prospects ‐ is owned 100% by Birimian Resources SARL, a 100%‐owned Burkina Faso subsidiary of Orbis Gold Limited. A 1% profit based royalty is retained by the prior permit owner. |
Mineral tenement and land tenure status | The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area. | The tenement is in good standing and no known impediments exist. |
Exploration done by other parties | Acknowledgment and appraisal of exploration by other parties. | No previous exploration has been reported on the permit. |
Geology | Deposit type, geological setting and style of mineralisation. | The Dynikongolo Permit overlies a portion of the Proterozoic‐aged Hounde greenstone belt. Mineralisation at the Bantou prospect is hosted within northwest‐trending sheared hematite and silica altered sediments at the contract with porphyritic intrusives. |
Drill hole Information | 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: o easting and northing of the drill hole collar o elevation or RL (Reduced Level - elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole o down hole length and interception depth o hole length. | Not applicable to the information announced in this report. |
Data aggregation methods | In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut‐off grades are usually Material and should be stated. | Not applicable to the information announced in this report. |
ASX Code: OBS 9 www.orbisgold.com
Criteria | JORC Code explanation | Commentary |
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. | Not applicable to the information announced in this report. | |
The assumptions used for any reporting of metal equivalent values should be clearly stated. | Not applicable to the information announced in this report. | |
Relationship between mineralisation widths and intercept lengths | These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg 'down hole length, true width not known'). | Not applicable to the information announced in this report. |
Diagrams | 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. | Refer to Figures contained within this report. |
Balanced reporting | 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. | All results are reported. |
Other substantive exploration data | 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. | Geochemical (soil) sampling was conducted over the entire permit on an 800m x 100m grid with select areas (Bantou, Tankoro and Safia prospects) in‐filled to 200m x 50m Analysis for gold by bottle roll cyanide leach was carried out by third party laboratories in Burkina Faso. Results are shown as colour contour maps. |
Further work | The nature and scale of planned further work (eg 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. | Refer to description contained within this report. |
Competent Persons Statement The information in this report that relates to Exploration Results is based on information compiled by Mr Peter Spiers, a Competent Person who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Spiers is a full‐time employee of the company. Mr Spiers has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken 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 Spiers consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Drill Hole Intersections
Drill hole intersection lengths reported in this announcement represent down hole lengths and do notequate to true widths. The conversion from down hole lengths to true widths will be variable from hole to hole due to variability of the dip of the targeted structures and variability in the inclination (dip) of individual drill holes.
ASX Code: OBS 10 www.orbisgold.com
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