IRW-News: Birimian Ltd.: Birimian Limited: Erweiterung der hochgradigen Lithiumlagerstätte Goulamina

IRW-PRESS: Birimian Ltd.: Birimian Limited: Erweiterung der hochgradigen Lithiumlagerstätte Goulamina

Birimian Limited: Erweiterung der hochgradigen Lithiumlagerstätte Goulamina

- Aktualisierte Mineralressource Goulamina;

- 27,8 Mio. Tonnen mit 1,42 % Li2O (393.000 t enthaltenes Li2O)

- Vorläufige Ressourcenschätzung bestätigt beachtliche hochgradige oberflächennahe Erweiterung der Projektressourcen.

- Hochstufung der Ressourcenkategorien und weitere Ressourcenerweiterung werden nach Hinzunahme der noch ausstehenden Bohrergebnisse Anfang Mai 2017 erwartet.

- Ausgezeichnetes Potenzial um signifikante Tonnagen an in geringer Tiefe lagernder hochgradiger Lithiumvererzung durch weitere Bohrungen hinzuzufügen.

- Vormachbarkeitsstudie im Zeitplan für Abschluss im Juniquartal 2017.

Birimian Limited (ASX: BGS) (Birimian oder das Unternehmen -- http://www.commodity-tv.net/c/mid,2697,Company_Presentation/?v=297188) berichtet eine Aktualisierung der Mineralressourcenschätzung für die Lagerstätte Goulamina auf ihrem Lithiumprojekt Bougouni in Mali.

Die Mineralressource auf Goulamina umfasst jetzt 27,8 Mio. Tonnen mit 1,42 % Li2O für 393.000 Tonnen enthaltenes Li2O (Tabelle 1). Dies ist beinahe eine Verdopplung der früheren Schätzung des enthaltenen Lithiums und bestätigt weiter, dass Goulamina heute eine der weltweit höchst gradigsten Lithiumlagerstätten von signifikanter Größe in Festgestein ist.

Birimians Managing Director Kevin Joyce äußerte sich zu diesem Meilenstein: Die jüngste Ressourcenschätzung ist ein herausragendes Ergebnis, das die Erweiterungen der Vererzung der West Zone und die neue Entdeckung in der Sangar Zone einschließt. Die Kombination dieser erweiterten Ressourcen mit den erwarteten Hochstufungen der Ressourcenkategorien in der nahen Zukunft wird die Vormachbarkeitsstudie auf dem Projekt unterstützen, die zurzeit durchgeführt wird.

Die gegenwärtigen Ressourcen liegen weit über unseren anfänglichen Erwartungen und übertreffen jetzt das ursprüngliche Explorationsziel des Unternehmens für enthaltenes Lithium. Entscheidend ist, dass ein signifikantes Potenzial für eine weitere Ausdehnung der Ressource Goulamina besteht.

Birimian hat einen soliden Barmittelbestand mit ausreichend Kapital zur Finanzierung von Entwicklungsaktivitäten bis zum Abschluss der Vormachbarkeitsstudie auf dem Projekt, der im Juniquartal erwartet wird.

Mineralressourcenschätzung

Cube Consulting (Cube) wurde zur Durchführung einer Mineralressourcenschätzung für die Lagerstätte Goulamina beauftragt. Diese Schätzung schließt jetzt Erweiterungen der West Zone und die vor Kurzem entdeckte Sangar Zone im Südwesten ein.

Detaillierte Informationen hinsichtlich der Daten, Qualitätskontrolle und Schätzungsmethodik sind in Anhang 1 - JORC Tabelle1, Abschnitte 1 bis 3 dokumentiert.

Die kombinierten Ressourcen, die in den Vertrauenskategorien angezeigt und geschlussfolgert geschätzt wurden, sind in Tabelle 1 zu sehen. Das Ressourcengebiet im Pegmatit der Main Zone wurde nicht neu modelliert und bleibt unverändert gegenüber der ersten Ressourcenschätzung (Pressemitteilung vom 27. Oktober 2016).

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Tabelle 1. Klassifizierungen der Mineralresource Goulamina

Birimian lieferte die Hauptinformationsquellen, die im Rahmen dieser Mineralressourcenschätzung verwendet wurden einschließlich Bohrungsdatensammlungen, eine topografische Oberfläche, Kartierungsinformationen und eine geologische Interpretation der vererzten Pegmatite. Zusätzliche 29 Bohrungen wurden in die aktualisierte Schätzung aufgenommen. Diese Bohrungen ergänzen die 51 Bohrungen, welche die Grundlage für das erste Ressourcenmodell bildeten.

Während der Ressourcenschätzung standen für ungefähr 65 Bohrungen die Analysenergebnisse noch aus und sie wurden nicht in die aktuelle Ressourcenschätzung aufgenommen. Diese Bohrungen schließen einige Erweiterungsbohrungen auf der Main und West Zone ein, sind aber zum größten Teil Infill-Bohrungen in Abständen von 25m, die zur Verbesserung des Vertrauens in die Geologie und die Ressource ausgelegt wurden. Eine weitere Ressourcenerweiterung und Hochstufungen der Ressourcenkategorien sind wahrscheinlich, wenn diese Bohrungen in eine nachfolgende Schätzung aufgenommen werden, die Anfang Mai erwartet wird.

Die Mineralressourcen wurden durch Rückspülbohrungen (Reverse Circulation, RC) und Kernbohrungen (Diamond Drilling, DD) abgegrenzt. Der Großteil der neuen Bohrungen, die in die Schätzung aufgenommen wurden, wurde in den Pegmatitzonen West und Sangar in Abständen von 50 m x 50 m niedergebracht. Diese Abstände sind zur Bestimmung der Kontinuität der Geologie und des Gehalts zur Ausweisung einer Ressource in der Kategorie geschlussfolgert angemessen.

Der Spodumen (Lithium) -Pegmatit auf Goulamina kommt als drei gut definierten im Allgemeinen parallelen und sehr kontinuierlichen Dykes (Intrusionsgänge) vor; Main Zone, West Zone und Sangar Zone (Abbildung 1, 2 und 3). Querschneidende vererzte Dykes, die in Aufschlüssen und in den Bohrungen identifiziert wurden, sind nicht so gut begrenzt und wurden zu diesem Zeitpunkt nicht in die klassifizierten Ressourcen eingeschlossen.

Vererzte Domänen für getrennte Pegmatit-Dykes wurden in Profilschnitten digitalisiert und dann als Drahtgitter dargestellt, um Festkörper zu generieren. Es besteht ein sehr starker Zusammenhang zwischen dem vererzten Teil der Pegmatit-Dykes und dem gesamten vererzten Dyke-Abschnitt. Nur sehr wenig Pegmatitmaterial hat keine signifikant erhöhten Lithiumgehalte. Folglich stimmen die Grenzen der Vererzung im Allgemeinen mit den lithologischen Grenzen der Dykes überein. Drahtgitter wurden zur Bestückung des Blockmodells und durch herkömmliches Kriging-Verfahren interpolierte Li2O-Gehalte verwendet.

Es wurde angenommen, dass die Ressource im Tagebauverfahren abgebaut wird, das von den konzeptionellen Bergbaustudien unterstützt wird. Die früheren metallurgischen Studien bieten eine ausreichende Basis für die Annahme hinsichtlich der metallurgischen Zugänglichkeit und der Bestimmung angemessener Perspektiven für eine eventuelle wirtschaftliche Extraktion.

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Abbildung 1. Goulamina-Lagerstätte. Planansicht des Lithium-Pegmatits mit Lage der Bohrungen

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Abbildung 2. Lagerstätte Goulamina - Profilschnitte Main Zone und West Zone.

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Abbildung 3. Lagerstätte Goulamina - Profilschnitt Sangar Zone

Goulamina - eine hochgradige Lithiumlagerstätte mit beträchtlichen Tonnagen

Die aktualisierte Ressourcenschätzung auf Goulamina bestätigt eine hochgradige Lithiumlagerstätte mit beträchtlichen Tonnagen.

Die Gehalt-Tonnage-Kurve für die aktualisierten geschlussfolgerten Ressourcen ist in Abbildung 4 zu sehen. Die Gesamtressource wird für einen Cut-off-Gehalt von 0% Li2O angegeben. Bei höheren Cut-off-Gehalten variieren die Tonnagen der Vererzung nicht beträchtlich, was den robusten Gehalt und die gute Kontinuität der modellierten Vererzung bestätigt. Die gesteigerte Ressourcentonnage hat zu einer geringen Abnahme des Ressourcengehalts geführt, aber das enthaltene Lithium beachtlich erhöht. Der Ressourcengehalt liegt weiterhin beachtlich über dem geschätzten Cut-Off-Gehalt für den Abbau von 0,82% Li2O (Pressemitteilung vom 13. März 2017). Die jüngste Ressourcenschätzung erfüllt Meilenstein Eins des Leistungsanreizplans des Managements.

Die Vererzung ist in allen drei Zonen weiterhin offen und im 250 Quadratkilometer großen Projektgebiet besteht hervorragendes ungenutztes Potenzial. Birimian ist weiterhin zuversichtlich, dass es den Lithiumbestand auf Goulamina im Laufe der weiteren Projektentwicklungsarbeiten kontinuierlich steigern wird.

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Abbildung 4. Goulamina West Zone Gehalt-Tonnage-Kurve..

Weitere Planung

Am 30. Januar 2017 hat Birimian bekannt gegeben, dass die Scoping-Studie für das Lithiumprojekt Bougouni das hervorragende Potenzial des Projekts bestätigt hat, weshalb nun eine Vormachbarkeitsstudie (PreFeasibility Study, PFS) durchgeführt werden soll. Die Ergebnisse der Scoping-Studie lassen darauf schließen, dass die Goulamina-Lagerstätte kostengünstig im Tagebauverfahren abgebaut und eine gestufte Aufbereitungsanlage geplant werden kann. Dabei profitiert man von niedrigen Verhältnissen Abraum:Erz, hochgradiger Vererzung an der Oberfläche und niedrigen Betriebskosten in Mali. Die PFS ist weiterhin im Zeitplan für eine Fertigstellung im Laufe des Juniquartals 2017.

Die Bohrarbeiten auf dem Projekt wurden kurz unterbrochen, da das Unternehmen für weitere detaillierte Arbeiten und andere technische Studien hinsichtlich der Ressourcenschätzung Analysenergebnisse erwartet. Angesichts des konstanten Fortschritts bei den jüngsten Bohrungen und der längeren Wartezeit bis zum Erhalt der Analysenergebnisse wird ein weiteres Update des Ressourcenmodells jetzt Anfang Mai erwartet. Laut Erwartungen wird diese Schätzung alle Ergebnisse der Infill-Bohrungen zur Unterstützung der signifikanten Hochstufungen der Ressourcenkategorien einschließen und die detaillierten Vormachbarkeitsstudien erleichtern.

Gleichzeitig zum laufenden Bohrprogramm arbeitet Birimian an weiteren Studien, um die PFS abschließen zu können. Die Strategie des Unternehmens ist die Beschleunigung der Entwicklung der zurzeit abgegrenzten Ressourcen auf dem Projekt Bougouni, statt größere Ressourcenerweiterungen durch Bohrungen anzuvisieren. Zurzeit wird die nächste Phase der Entwicklungsbohrungen geplant. Das Programm hat die folgenden Ziele:

- Weiteres Upgrade der Ressourcenkategorien.

- Bestätigung geotechnischer Parameter für die Planung einer Tagebaumine.

- Bestätigung von Standorten für Aufbereitungsanlage, damit verbundene Infrastruktur, Abraumhalde und Tailings-Lagerplatz.

Digby Wells Environmental (Digby Wells) hat die Feldarbeiten hinsichtlich der nächsten Phase der detaillierten Nachhaltigkeitsstudien auf dem Projekt und den weiteren Gemeindebereichen abgeschlossen. Dies ist von Wichtigkeit, da die Ergebnisse die laufenden technischen Studien und die Planung der Entwicklungsbohrungen erleichtern werden. Dadurch wird es Digby Wells möglich sein, die Terms of Reference for the Environmental and Social Impact Assessment (ESIA, Richtlinien für Umweltverträglichkeitsprüfung und Prüfung der sozialen Auswirkungen) zu erstellen. In diesem Stadium wird vorgeschlagen, die Richtlinien für das Projekt der Regierung Ende April vorzustellen. Dies signalisiert den formellen Beginn der ESIA für das Projekt und mündet im Genehmigungsprozess der Mine.

Birimian möchte die wirtschaftliche Nutzbarkeit von Bougouni beschleunigen. Folglich werden die nächsten wichtigen Meilensteine die metallurgischen Testarbeiten und eine aktualisierte Ressourcenschätzung sein. Das Unternehmen rechnet damit, dass sie Ende dieses Quartals verfügbar sein werden. Im Anschluss wird die Fertigstellung der PFS im Juniquartal 2017 erwartet. Dies wird es dem Unternehmen erlauben, die Projektfinanzierung und Abnahmeabkommen parallel zum Minengenehmigungsverfahren weiterzuverfolgen.

Für weitere Informationen kontaktieren Sie bitte:

Kevin Joyce

Managing Director

08 9286 3045

info@birimiangold.com

In Europa:

Swiss Resource Capital AG

Jochen Staiger

info@resource-capital.ch

www.resource.capital.ch

Erklärung der qualifizierten Personen

Die Informationen in dieser Meldung, die sich auf Explorationsergebnisse und das Explorationsziel beziehen, basieren auf Informationen, die von oder unter der Leitung von Kevin Anthony Joyce erstellt wurden. Herr Joyce ist Managing Director von Birimian Limited und ein Mitglied des Australian Institute of Geoscientists. Herr Joyce verfügt über ausreichende Erfahrung, die für diese Art von Vererzung und Lagerstätte sowie für seine Tätigkeiten erforderlich ist, um als qualifizierte Person gemäß der Ausgabe von 2012 des Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) definiert werden zu können. Herr Joyce erlaubt das Hinzufügen von Material zu diesem Bericht, das auf seinen Informationen basiert und in Form und Kontext erscheint.

Die Informationen in dieser Meldung, die sich auf Mineralressourcen beziehen, basieren auf Informationen, die von oder unter der Leitung von Matt Bampton erstellt wurden. Herr Bampton ist ein Mitglied des Australian Institute of Mining and Metallurgy und ein Mitglied des Australian Institute of Geoscientists. Herr Bampton ist ein Vollzeitbeschäftigter von Cube Consulting Pty Ltd. und verfügt über ausreichende Erfahrung, die für diese Art von Vererzung und Lagerstätte sowie für seine Tätigkeiten erforderlich ist, um als qualifizierte Person gemäß der Ausgabe von 2012 des Australasian Code for Reporting of Exploration Results definiert werden zu können. Herr Bampton erlaubt das Hinzufügen von Material zu diesem Bericht, das auf seinen Informationen basiert und in Form und Kontext erscheint.

Zuvor gemeldete Ergebnisse

Diese Meldung enthält Informationen hinsichtlich früherer Explorationsergebnisse beim Projekt Bougouni. Das Unternehmen bestätigt, dass keine anderen neuen Informationen oder Daten vorliegen, die sich erheblich auf die in der ursprünglichen Marktmitteilung enthaltenen Informationen auswirken könnten, und dass sich alle grundlegenden Annahmen und technischen Parameter nicht grundlegend geändert haben. Das Unternehmen bestätigt, dass die Form und der Kontext der enthaltenen Darbringung der Ergebnisse der Competent Person im Vergleich zur Marktmitteilung nicht grundlegend geändert wurden.

Zukunftsgerichtete Aussagen

Aussagen hinsichtlich Pläne in Zusammenhang mit den Mineralkonzessionsgebieten des Unternehmens sind zukunftsgerichtete Aussagen. Es kann keine Garantie abgegeben werden, dass die Pläne des Unternehmens hinsichtlich der Erschließung seiner Mineralkonzessionsgebiete wie erwartet umgesetzt werden können. Es kann keine Garantie abgegeben werden, dass das Unternehmen in der Lage sein wird, das Vorkommen von Minerallagerstätten zu bestätigen, dass sich eine Mineralisierung als wirtschaftlich herausstellen wird oder dass eine Mine in einem der Mineralkonzessionsgebiete des Unternehmens erschlossen werden kann.

Die Ausgangssprache (in der Regel Englisch), in der der Originaltext veröffentlicht wird, ist die offizielle, autorisierte und rechtsgültige Version. Diese Übersetzung wird zur besseren Verständigung mitgeliefert. Die deutschsprachige Fassung kann gekürzt oder zusammengefasst sein. Es wird keine Verantwortung oder Haftung: für den Inhalt, für die Richtigkeit, der Angemessenheit oder der Genauigkeit dieser Übersetzung übernommen. Aus Sicht des Übersetzers stellt die Meldung keine Kauf- oder Verkaufsempfehlung dar! Bitte beachten Sie die englische Originalmeldung auf www.sedar.com, www.sec.gov, www.asx.com.au/ oder auf der Firmenwebsite!

ASX Additional Information - Material Assumptions

The following is a summary of Material Information used to estimate the Mineral Resource as required by Listing Rule 5.8.1 and JORC 2012 Reporting Guidelines.

Mineral Tenement and Land Tenure Status

The deposit lies within the Torakoro Research Permit which is owned 100% by Timbuktu Ressources, a wholly owned Malian subsidiary of Birimian Limited. The mineral property is in good standing and there is no known impediment to obtaining a license to operate.

Geology

The project area is located within the Bougouni region of the southern Mali, where broadly north-south trending belts of Birimian-aged (Paleoproterozoic) metavolcanic and metasedimentary rocks are intruded by syn-and post-orogenic granitoids.

Within the Project area, outcrop is limited and basement geology is therefore poorly understood. Regolith typically comprises a surficial transported gravel horizon (locally termed Cuirasse) overlying a thin lateritic weathering profile. Mapping indicates NE-striking metapelite and metagreywacke rocks in the north and eastern parts of the property. The southern portion of the project area is dominated by granodiorite.

All pegmatite bodies contain anomalous or significant amounts of the mineral spodumene (a lithium-bearing pyroxene), along with the other major minerals of quartz and feldspar (albite and microcline); From the geological logging, there are also accessory amounts of muscovite, tourmaline, apatite, and biotite at the granite contacts.

Drilling Techniques and Hole Spacing

Holes were drilled in two phases, from May to September 2016, and December 2016 to February 2017. In total 80 holes inform the current resource estimate.

RC drilling was completed by Foraco Drilling and International Drilling Company (IDC), using nominally 5.5 diameter equipment, with a face sampling downhole hammer. The Foraco rig had an outboard compressor, with specifications of 1100CFM@350PSI. The IDC rig had an onboard compressor with specifications of 1150CFM@500PSI

Core drilling was completed using equipment supplied and operated by Foraco Drilling and IDC. All holes are standard HQ sized holes (core diameter 64mm). DD holes are a combination of some drilled from surface and some as diamond tails on RC holes (including extensions to previously drilled Phase 1 holes).

Sampling

All samples collected from the RC rig were collected at 1m downhole intervals. Samples were split into pre-numbered calico bags at the rig using a 3-stage riffle splitter yielding a sample of between 3 to 5 kilograms. In addition to the 1m sample, duplicate samples were taken every 20m downhole. Blanks and standards were inserted into the sample stream at a rate of 1:40 for Blanks, and 1:40 for Standards.

All data is documented in a sampling ledger, including hole number, date drilled, sample id, depths from and to, sample condition, sample type, percentage sample return and all certified standards blanks and duplicates.

Drill core was sawn in half along its long axis. One half of the drill core was taken for geochemical analysis. All samples were collected at 1m intervals down the hole. 100% core recoveries were typically achieved.

Sample Analysis

Sample preparation work was conducted in the ALS Laboratory in Ouagadougou, Burkina Faso. At the laboratory, samples were weighed, dried and crushed to -2mm in a jaw crusher. A 1.0kg split of the crushed sample was subsequently pulverised in a ring mill to achieve a nominal pulp particle size of 85% passing 75m. Sample sizes and laboratory preparation techniques are considered to be appropriate.

After pulverisation, sub-samples were sent to ALS Laboratory in Perth for assay. Analysis for lithium and a suite of other elements was undertaken by ICP-AES, after a sodium peroxide (Na2O2) fusion - ALS Method ME-ICP89. Some of the multi-element analysis uses a MS finish - ALS Method ME-MS91. This fusion technique is considered to be a total dissolution technique for lithium-bearing silicate minerals. Detection limits for lithium are 0.01-10%.

Estimation Methodology

Interpreted sections were wireframed using Surpac software to create 3D solids for each pegmatite domain within the resource area. The drillhole data was sliced on 50m spaced sections for modelling of the geology and the mineralised envelopes. Solids were constructed for 4 discreet pegmatite dykes, as well as for the near surface colluvium and lateritic material.

Mineralisation in the Main Zone and West Zone pegmatites was composited to 3m downhole intervals to reduce the variability inherent in raw samples or a smaller composite length relative to estimation resource model block dimensions.

Surpac software was used for the modelling and estimation, with SuperVisor software used to conduct geostatistical analysis. The main pegmatite domains in the block model were estimated using interpolation of grade via Ordinary Kriging (OK), which was considered to be an acceptable method given the strong geological control, the drilling density and the data distribution downhole.

A single block model was created by Cube with dimensions extended out to fully cover all of the mineralisation, plus surrounds that may be contained within pit optimisation shells. The parent block size used is 20mN x 20mE x 5mRL and sub-blocked to 1.25mN x 2.5mE x 2.5mRL.

Resource Classification

A range of criteria were considered by Cube when addressing the suitability of the classification boundaries. These criteria include:

- Geological continuity and volume;

- Drill spacing and drill data quality;

- Modelling technique; and

- Estimation properties including search strategy, number of informing composites, average distance of composites from blocks and kriging quality parameters.

Blocks have been classified as Indicated or Inferred, mostly based on drill data spacing in combination with kriging parameters.

Cut-off Grade

For the global resource estimation, no lower cutoff grade for reporting is used, as the model is essentially developed within a geological boundary, and the resource incorporates everything within the modelled pegmatite dykes.

Mining and Metallurgy

Conceptual mining studies are based on open cut mining methods using a contract mining fleet and conventional drill and blast mining methods. Limited inspection of core photography indicates that ground conditions are suitable for this mining method.

The resource has been trimmed by intersecting with a pit shell based on a Whittle optimisation at a revenue factor (USD$650/t for a nominal 6% Li2O concentrate). Material falling outside of this shell is considered to not meet reasonable prospects for eventual economic extraction. Reasonable prospects for eventual economic extraction have been determined with reference to the results of previous Whittle optimization studies, and the depth of the selected open pit shell (at a revenue factor of USD$650/t for a nominal 6% Li2O concentrate) was used as an analogy to help limit the depth for reporting the Sangar Zone.

The criteria for assumptions and predictions regarding metallurgical amenability - required to determine reasonable prospects for eventual economic extraction - are based on the bulk sampling and test program undertaken in 2008 by CSA Global (UK), work that was commissioned and funded by the World Bank as part of the SYSMIN economic development program. CSA Global undertook systematic sampling of outcropping material at Goulamina to collect a representative bulk sample comprising 3,150kg of material, which was subsequently crushed and split to 750kg for detailed processing test work. This work included evaluations of screen sizing to optimize spodumene (lithium) recoveries and preliminary dense media separation tests. The results of this study indicated good spodumene recoveries and a high mass yield, to produce a high quality chemical grade spodumene concentrate.

JORC Code, 2012 Edition - Table 1

Section 1 - Sampling Techniques and Data

CriteriJORC Code explanation Commentary

a

Samplin· Nature and quality of · Diamond Drill Core (DD)

g sampling and Reverse Circulation

techni ( (RC) chips are the two

ques eg cut channels, random main sample

chips, or specific types.

specialised industry

standard measurement · RC drill holes were

tools appropriate to the routinely sampled at 1m

minerals under intervals down the hole,

investigation, such as with samples collected at

down the drill rig by riffle

splitting drill spoils to

hole gamma sondes, or collect a nominal 2.5 -

handheld XRF instruments, 4kg sub sample, with an

additional 50% split for

etc). These examples material > 5

should not be taken as kg.

limiting the broad

meaning of · Routine standard

sampling. reference material, sample

blanks, and sample

· Include reference to duplicates were inserted

measures taken to ensure or collected at every 10th

sample sample in the sample

sequence for RC drill

representivity and the holes.

appropriate calibration

of any measurement tools · Nominal 2.5kg sub samples

or systems were collected from half

used. sawn HQ sized diamond

drill core, routinely

· Aspects of the sampled at 1m intervals

determination of down the

mineralisation that are hole.

Material to the Public

Report. · Routine standard

reference material and

· In cases where industry sample blanks were

standard work has been inserted/collected at

done this would be every 20th sample in the

relatively simple sample sequence for DD

( drill

eg reverse circulation holes.

drilling was used to

obtain 1 m samples from · All samples were

which 3 kg was pulverised submitted to ALS Bamako

to produce a 30 g charge and subsequently forwarded

for fire assay). In to ALS Ouagadougou for

other cases more preparation. Analysis was

explanation may be undertaken at ALS Perth by

required, such as where method

there is coarse gold that ME-ICP89

has inherent sampling

problems. Unusual

commodities or

mineralisation types

(

eg submarine nodules) may

warrant disclosure of

detailed

information.

Drillin· Drill type (eg core, · Drill holes were

g reverse circulation, generally angled at -60°

techni open-hole hammer, rotary towards 270° (WGS84_29N

ques air blast, auger, Bangka, grid)

sonic,

· RC drilling equipment is

etc) and details (eg core nominally 5.5 diameter,

diameter, triple or with a face sampling down

standard tube, depth of

diamond tails, hole hammer.

face-sampling bit or · RC drilling was

other type, whether core undertaken using the

is oriented and if so, by following equipment -

what method,

etc). o Purpose built RC Rig (Fora

co

Drilling) with an outboard

compressor;

specifications of

1100CFM@350PSI

o Schramm 685 RC Rig (IDC Dr

illing) with an

onboardcompressor;

specifications of

1150

CFM@500PSI

· DD holes are standard

tube HQ sized holes (core

diameter

64mm)

· DD holes were drilled

using

the following equipment -

o Purpose built drill rig

supplied

and operated by Foraco Drill

ing

o KL900 rig supplied and

operated by IDC

o Atlas Copco CT14 rig suppl

ied

and operated by IDC

· DD holes are a

combination of some

drilled from surface

(lengths varied between

21m and 110m), and some as

diamond tails on RC holes

(lengths varied between

100m and

195m).

· Core Orientations were

performed with a Reflex

ACT II RD rapid descent

core orientation

tool

Drill · Method of recording and · A qualitative estimate of

sample assessing core and chip sample recovery was done

recove sample recoveries and for each sample metre

ry results collected from the drill

assessed. rig for RC

holes.

· Measures taken to

maximise sample recovery · Riffle split samples were

and ensure representative weighed to ensure

nature of the consistency of sample size

samples. and to monitor sample

recoveries.

· Whether a relationship

exists between sample · A quantitative measure of

recovery and grade and sample recovery was done

whether sample bias may for each run of drill core

have occurred due to for DD

preferential loss/gain of holes.

fine/coarse

material. · Drill sample recovery in

the DD holes approximates

100% in mineralised

zones.

· Overall, drill sample

recovery and quality is

considered to be adequate

for the RC drilling, and

is considered to be

excellent for the DD

holes.

· There is the possibility

of some low-level

contamination from the

drill bits and rods on

subsequent iron

assays.

Logging· Whether core and chip · All drill sample

samples have been intervals were

geologically and geologically logged by

Company

geotechnically logged to a Geologists.

level of detail to

support appropriate · Where appropriate,

Mineral Resource geological logging

estimation, mining recorded the abundance of

studies and metallurgical specific minerals, rock

studies. types and weathering using

a standardized logging

· Whether logging is system.

qualitative or

quantitative in nature. · For RC holes, a small

Core (or sample of washed drill

material was retained in

costean, channel, etc) chip trays for future

photography. reference and validation

of geological logging, and

· The total length and an additional 100g of

percentage of the drill material was

relevant intersections retained in plastic bags

logged. for the same

purpose.

· For DD holes, all core

was photo-graphed both Wet

and

Dry.

· For most holes, the

entire drill hole was

logged and sampled. Barren

granite away from the

pegmatite dykes was not

routinely

sampled.

Sub-sam· If core, whether cut or · RC 1m samples were riffle

pling sawn and whether quarter, split at the drill rig,

techni half or all core and routine field sample

ques taken. duplicates were taken to

and evaluate whether samples

sample· If non-core, whether were

prepar riffled, tube sampled, representative.

ation rotary split,

· Drill core was sawn in

etc and whether sampled half along its long axis.

wet or One half of the drill core

dry. was taken

for

· For all sample types, geochemical analysis. All

the nature, quality and samples were collected at

appropriateness of the 1m intervals down the

sample preparation hole.

technique.

· Sample preparation was

· Quality control undertaken by ALS

procedures adopted for Ouagadougou

all sub-sampling stages laboratory.

to maximise

· At the laboratory,

representivity of samples. samples were weighed,

· Measures taken to ensure dried and crushed to -2mm

that the sampling is in a jaw crusher. A 1.0kg

representative of the in split of the crushed

situ material collected, sample was pulverised in a

including for instance steel ring mill to achieve

results for field a nominal particle size of

duplicate/second-half 85% passing

sampling. 75m.

· Whether sample sizes are · Sample sizes and

appropriate to the grain laboratory preparation

size of the material techniques are considered

being to be appropriate for

sampled. lithium, but may have

introduced a small level

of contamination for iron

from the sample

preparation

equipment.

Quality· The nature, quality and · Analysis for lithium and

of appropriateness of the a suite of other elements

assay assaying and laboratory was undertaken at ALS

data procedures used and Perth by ICPAES after

and whether the technique is Sodium Peroxide Fusion.

labora considered partial or Detection limits for

tory total. lithium (0.01

tests -10%)

· For geophysical tools,

spectrometers, handheld · Sodium Peroxide fusion is

XRF instruments, considered a total assay

technique for

etc, the parameters used lithium

in determining the

analysis including · No geophysical tools or

instrument make and other non-assay instrument

model, reading times, types were used in the

calibrations factors analyses

applied and their reported.

derivation,

etc. · Review of routine

standard reference

· Nature of quality material and sample blanks

control procedures suggest there are no

adopted significant analytical

( bias or preparation errors

eg standards, blanks, in the reported

duplicates, external analyses.

laboratory checks) and

whether acceptable levels · Lithium assays for the RC

of accuracy field sample duplicates

( compare well with the

ie lack of bias) and original sample and are

precision have been consistent with the style

established. of mineralisation being

evaluated. The analyses

are considered to be

representative of the

geological zones which

were

sampled.

· No field duplicates were

taken for the DD program.

· Internal laboratory QAQC

checks are reported by the

laboratory, including

sizing analysis to monitor

preparation.

· Review of the internal

laboratory QAQC suggests

the laboratory is

performing within

acceptable

limits.

· No samples were analysed

at an umpire

lab.

Verific· The verification of · Drill hole data is

ation significant intersections compiled and digitally

of by either independent or captured by company

sampli alternative company geologists.

ng and personnel.

assayi · The compiled digital data

ng · The use of twinned holes. is verified and validated

· Documentation of primary by the Companys database

data, data entry consultant before loading

procedures, data into the drill

verification, data

storage (physical and hole database.

electronic) · No specific twin holes

protocols. were drilled.

· Discuss any adjustment

to assay · Reported results are

data. compiled by the Companys

database consultant and

the Managing

Director.

· There were no adjustments

to assay

data.

Locatio· Accuracy and quality of · Drill hole collars were

n of surveys used to locate set out in UTM grid

data drill holes (collar and WGS84_Zone29N

points down-hole surveys),

trenches, mine workings · Drill hole collars were

and other locations used positioned using hand held

in Mineral Resource GPS.

estimation.

· RC and DD holes are

· Specification of the routinely surveyed for

grid system orientation at

used. approximately 50m-spaced

intervals down the hole,

· Quality and adequacy of using the Reflex EZ-TRAC

topographic electronic multi-shot

control. system

· SRTM elevation data was

used to establish

topographic control where

appropriate.

· Locational accuracy at

collar and down the drill

hole is considered

appropriate for this stage

of resource

estimation.

Data · Data spacing for · The majority of drilling

spacin reporting of Exploration is at 50m x 50m centres,

g and Results. with deeper holes at 100m

distri x 50m spacing, and some

bution · Whether the data spacing minor infill to

and distribution is approximately 50m x 25m on

sufficient to establish selected

the degree of geological sections.

and grade continuity

appropriate for the · This spacing is adequate

Mineral Resource and Ore to determine the

Reserve estimation geological and grade

procedure(s) and continuity for reporting

classifications of Mineral

applied. Resources.

· Whether sample · Compositing to 3m lengths

compositing has been has been applied for the

applied. estimation of Mineral

Resources

Orienta· Whether the orientation · Mineralisation at Goulamin

tion of sampling achieves a

of unbiased sampling of outcrops at surface and

data possible structures and the steeply dipping

in the extent to which this geometry of mineralisation

relati is known, considering the is therefore

on to deposit well-defined.

geolog type.

ical · Drilling orientation has

struct· If the relationship not biased the

ure between the drilling sampling.

orientation and the

orientation of key

mineralised structures is

considered to have

introduced a sampling

bias, this should be

assessed and reported if

material.

Sample · The measures taken to · Samples are stored on

securi ensure sample site prior to road

ty security. transport by Company

personnel to the ALS

Laboratory in Bamako,

Mali.

· Chain of custody

procedures exist for the

transport of material

between ALS Laboratories

(Mali to Burkina Faso to

Perth).

Audits · The results of any · Cube Consulting undertook

or audits or reviews of a site visit during RC

review sampling techniques and drilling operations to

s data. review the sampling

techniques.

· There has been no

external audit or review

of the Companys sampling

techniques for diamond

drilling.

Section 2 - Reporting of Exploration Results

CriteriJORC Code explanation Commentary

a

Mineral· Type, reference · The reported results are

teneme name/number, location and from an area within the

nt and ownership including

land agreements or material Torakoro Permit, which is

tenure issues with third parties held 100% by Timbuktu

status such as joint ventures, Resources SARL, a Malian

partnerships, overriding subsidiary of

royalties, native title

interests, historical Birimian Limited

sites, wilderness or · Tenure is in good

national park and standing.

environmental

settings.

· 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.

Explora· Acknowledgment and · The area which is

tion appraisal of exploration presently covered by the

done by other

by parties. Torakoro Permit was

other explored intermittently by

partie government agencies in the

s period 1990 to 2008.

Exploration consisted of

soil sampling and mapping

for

gold.

· In 2007-2008 an

evaluation of the

commercial potential for

lithium at

Goulamina was undertaken by

CSA Global as part of the

SYSMIN 7 economic

development

program.

· CSA undertook mapping and

bulk sampling of the

Goulamina outcrop but did

not undertake drilling.

Bulk sampling and

preliminary processing

testwork confirmed the

viability of the pegmatite

at

Goulamina to produce a high

quality chemical grade

lithium

concentrate

Geology· Deposit type, geological · Pegmatite Hosted Lithium

setting and style of Deposits are the target

mineralisation. for exploration. This

style of mineralisation

typically forms as dykes

and sills intruding or in

proximity to granite host

rocks.

· Surficial geology within

the project area typically

consists of indurated

gravels forming plateaux,

and broad depositional

plains consisting of

colluvium and alluvial to

approximately 5m vertical

depth.

· Lateritic weathering is

common away from the

Goulamina deposit and in

the broader project

area.

Drill · A summary of all · All relevant data from

hole information material to 2016

Inform the understanding of the

ation exploration results and 2017 drilling programs

including a tabulation of has been previously

the following information released to the

for all Material drill market.

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.

· If the exclusion of this

information is justified

on the basis that the

information is not

Material and this

exclusion does not

detract from the

understanding of the

report, the Competent

Person should clearly

explain why this is the

case.

Data · In reporting Exploration · All relevant data from

aggreg Results, weighting 2016

ation averaging techniques,

method maximum and/or minimum and 2017 drilling programs

s grade truncations has been previously

( released to the

eg cutting of high grades) market.

and cut-off grades are

usually Material and

should be

stated.

· 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.

· The assumptions used for

any reporting of metal

equivalent values should

be clearly

stated.

Relatio· These relationships are · All relevant data from

nship particularly important in 2016 and 2017 drilling

the reporting of

between Exploration programs has been

minera Results. previously released to the

lisatio market

n · If the geometry of the

widths mineralisation with

and respect to the drill

interc

ept hole angle is known, its

length nature should be

s 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).

Diagram· Appropriate maps and · All relevant data from

s sections (with scales) 2016

and tabulations of

intercepts should be and 2017 drilling programs

included for any has been previously

significant discovery released to the

being reported These market

should include, but not

be limited to a plan view

of drill hole collar

locations and appropriate

sectional

views.

Balance· Where comprehensive · All relevant data from

d reporting of all 2016

report Exploration Results is

ing not practicable, and 2017 drilling programs

representative reporting has been previously

of both low and high released to the market

grades and/or widths

should be practiced to

avoid misleading

reporting of Exploration

Results.

Other · Other exploration data, · Density measurements

substa if meaningful and taken by Archimedes Method

ntive material, should be (water displacement) of

explor reported including (but core samples

ation not limited to):

data geological observations; from 14 holes, all in unweat

geophysical survey hered

results; geochemical material.

survey results; bulk · Whole core and some half

samples - size and method core samples

of treatment; were

metallurgical test used for density

results; bulk density, measurements

groundwater, geotechnical, but neither coated nor

and rock characteristics; waxed.

potential deleterious or

contaminating · These measurements were

substances. used to determine the bulk

density for the Mineral

Resource.

· In addition to lithium

(as

Li

2O), all holes were assayed

for a multi-element suite

to evaluate the presence

of any potential

co-product or

contaminating

material.

Further· The nature and scale of · The Mineral Resource

work planned further work estimate will be used to

( support

eg tests for lateral

extensions or depth ongoing economic

extensions or large-scale assessments

step-out

drilling). of the key processing

parameters and estimate

· Diagrams clearly capital costs, which will

highlighting the areas of be used to define

possible extensions, subsequent phases of

including the main detailed work at the

geological

interpretations and Bougouni Li Project.

future drilling areas, · An environmental

provided this information consultancy

is not commercially

sensitive. has completed a preliminary

social and

enviro

nmental assessment, and is

currently undertaking the

next phase of detailed

site based surveys to

facilitate a mine

permitting

process.

Section 3 - Estimation and Reporting of Mineral Resources

Criteria JORC Code explanation Commentary

Database · Measures taken to · Drilling database is

integrit ensure that data has not maintained by

y been corrupted by, for

example, transcription Birimians database

or keying errors, consultant (Rock Solid

between its initial Data Consultancy) in

collection and its use

for Mineral Resource Datashed software, look-up

estimation tables and fixed

purposes. formatting are used for

entering logging, spatial

· Data validation and sampling data for the

procedures deposit databases. Sample

used. numbers are uniquely coded

and pre-numbered bags

used. Data transfer for

downhole survey and

assaying information is

electronic via email.

These and other workflow

methods minimise the

potential of errors.

· Cube received data

directly exported from

Datashed in MS Access format

, then completed validation

checks on the database

comparing maximum hole

depths checks on all data,

duplicate numbering,

missing data, and interval

error checks using

validation rules in MS

Excel before importing

records into MS Access.

Cube then verified the

data using visual

inspection of the

drillholes in Surpac v6.7,

in 3D to identify

inconsistencies of drill

hole traces.

Site · Comment on any site · Matt Bampton (Senior

visits visits undertaken by the Consultant - Cube

Competent Person and the Consulting) who is the

outcome of those Competent Person,

visits. conducted a site visit in

May 2016, during which

· If no site visits have time he inspected the

been undertaken indicate Project area including RC

why this is the drilling, sampling and

case. sample despatch for the

receiving laboratory.

Notes and photographs were

taken along with

discussions with site

personnel regarding

geology and mineralisation

of the deposits,

procedures, sampling and

database procedures, and

Quality Control

procedures. No major

issues were

encountered.

Geologica· Confidence in (or · The confidence in the

l conversely, the geological interpretation

interpre uncertainty of Main Zone and West Zone

tation of the

of ) the geological

interpretation of the Goulamina Pegmatites is

mineral good as a result of the

deposit. consistency of intercepts

in RC and diamond core

· Nature of the data used drilling programs, and

and of any assumptions their correlation to the

made. surface outcrops and

sub-crops of

· The effect, if any, of

alternative spodumene-rich pegmatites.

interpretations on · There is a very strong

Mineral Resource correlation between the

estimation. mineralised portion of the

pegmatite dykes and the

· The use of geology in total dyke intercept.

guiding and controlling Very little pegmatite

Mineral Resource material is not

estimation. significantly elevated in

lithium content; thus the

· The factors affecting mineralisation boundaries

continuity both of grade generally match the

and lithological boundaries of

geology. the

dykes.

· The confidence in the

geological interpretation

of the

Sangar Zone of the Goulamina

Pegmatites is lower, as

the minor surface outcrop

and sub-crop is supported

by only 6 drill-hole

intercepts. This

confidence is reflected in

the resource

classification.

Dimension· The extent and · The Goulamina Mineral

s variability of the Resource area has

Mineral Resource dimensions of 900m (strike

expressed as length length) in three main

(along strike or dykes up to 70m (true

otherwise), plan width, width) and 225m (below

and depth below surface surface). The maximum

to the upper and lower depth known to date for

limits of the Mineral the deepest mineralisation

Resource. is 195m below the surface.

Estimatio· The nature and · The block model was

n and appropriateness of the constructed using

modellin estimation technique(s) interpolation of grade via

g applied and key Ordinary Kriging (OK),

techniqu assumptions, including with an Inverse Distance

es treatment of extreme method used as an internal

grade values, check; a global model was

considered to be

domaining, interpolation appropriate for the

parameters and maximum purpose of the

distance of model.

extrapolation from data

points. If a computer · High grade values were

assisted estimation reviewed, but it was

method was chosen considered that

include a description of application of top-cuts

computer software and was not

parameters required.

used.

· Mineralised domains for 6

· The availability of separate pegmatite dykes

check estimates, were digitised in

previous estimates cross-section using 3D

and/or mine production strings and then

records and whether the

Mineral Resource wireframed to generate

estimate takes solids. These were a

appropriate account of subset of lithological

such wireframes of these

data. pegmatite

dykes.

· The assumptions made

regarding recovery of · Drillhole sample data was

by-products. flagged using domain codes

generated from three

· Estimation of dimensional mineralisation

deleterious elements or domains and oxidation

other non-grade surfaces. Sample data was

variables of economic composited to three metre

significance downhole lengths using a

( best

eg sulphur for acid mine fit-method.

drainage

characterisation). · Interpolation parameters

were set to a minimum

· In the case of block number of 12 composites

model interpolation, the and a maximum number of 24

block size in relation composites for the

to the average sample estimate. A maximum search

spacing and the search ellipse of 150m was used

employed. for estimation runs in the

reportable resource, with

· Any assumptions behind the orientation altered

modelling of selective dynamically to reflect the

mining change in orientation of

units. the West Zone pegmatite

domain.

· Any assumptions about

correlation between

variables. · Computer software used

for the modelling and

· Description of how the estimation was

geological

interpretation was used Surpac v6.7, with SuperVisor

to control the resource software used to conduct

estimates. geostatistical and

· Discussion of basis for variographic analysis.

using or not using grade · No by-product recoveries

cutting or were considered;

capping. Fe

2O3 was estimated, as an

· The process of element of potential

validation, the checking interest in terms of a

process used, the future

comparison of model data

to drill hole data, and spodumene concentrate.

use of reconciliation · The parent block size

data if used is 20mN x 20m E x 5m

available. RL and sub-blocked to

1.25mN x 2.5mE x 2.5mRL.

The bulk of the drilling

data was on 50m x 50m

spaced sections, with

limited infill to 25m x

25m spaced sections.

· No assumptions of

selective mining units

were

made.

· The mineralised domains

acted as a hard boundary

to control the Mineral

Resource

estimate.

· Block model validation

was conducted by the

following

means:

· Visual inspection of

block model estimation in

relation to raw drill data

on a section by section

basis.

· Volumetric comparison of

the wireframe/solid volume

to that of the block model

volume for each

domain.

· A global statistical

comparisons of input and

block grades, and local

composite grade (by

northing and RL)

relationship plots (swath

plots), to the block model

estimated grade for each

domain.

· Comparison of the

(de-clustered) cut grade

drill

hole composites with the

block model grades for

each lode domain in

3D.

· No mining has taken place

and therefore no

reconciliation data is

available.

Moisture · Whether the tonnages · The tonnages are

are estimated on a dry estimated on a dry

basis or with natural basis.

moisture, and the method

of determination of the

moisture

content.

Cut-off · The basis of the · Cut-off grade for

paramete adopted cut-off grade(s) reporting is 0.0%

rs or quality parameters Li

applied. 2O, reflecting the global

nature of the resource,

the grade-tonnage

relationships, and a

potential bulk mining

scenario based on the

lithological contacts.

Mining · Assumptions made · The previous preliminary

factors regarding possible mining studies are based

or mining methods, minimum on open cut mining methods

assumpti mining dimensions and using a contract mining

ons internal (or, if fleet and conventional

applicable, external) drill and blast mining

mining dilution. It is methods.

always necessary as part

of the process of · These studies have been

determining reasonable used to generate an open

prospects for eventual pit shell to limit the

economic extraction to material in the block

consider potential model to that component

mining methods, but the which is considered to

assumptions made have reasonable prospects

regarding mining methods for eventual economic

and parameters when extraction.

estimating Mineral

Resources may not always · The depth of this open

be rigorous. Where this pit shell was used as an

is the case, this should analogy to help limit the

be reported with an depth for reporting the

explanation of the basis

of the mining Sangar Zone.

assumptions

made.

Metallurg· The basis for · In 2007-2008 CSA

ical assumptions or undertook mapping and bulk

factors predictions regarding sampling of the

or metallurgical

assumpti amenability. It is Goulamina outcrop but did

ons always necessary as part not undertake

of the process of drilling.

determining reasonable

prospects for eventual · They collected a

economic extraction to representative bulk sample

consider potential comprising 3,150kg of

metallurgical methods, material, which was

but the assumptions subsequently crushed and

regarding metallurgical split to 750kg for

treatment processes and detailed processing test

parameters made when work.

reporting Mineral

Resources may not always · This work included

be rigorous. Where this evaluations of screen

is the case, this should sizing to optimize

be reported with an

explanation of the basis spodumene (lithium)

of the metallurgical recoveries and preliminary

assumptions dense media separation

made. tests.

· The results of this study

indicated good

spodumene recoveries and a

high mass yield, to

produce a high quality

chemic

al grade spodumene concentr

ate.

Environme· Assumptions made · A social and

ntal regarding possible waste environmental screening

factors and process residue assessment for areas

or disposal options. It is around the potential mine

assumpti always necessary as part and processing site at

ons of the process of

determining reasonable Goulamina has been

prospects for eventual undertaken by an

economic extraction to established environmental

consider the potential consultancy.

environmental impacts of

the mining and · No major social or

processing operation. environmental impediments

While at this stage the were

determination of foreseen.

potential environmental

impacts, particularly · An environmental

for a consultancy has been

engaged to plan and

greenfields project, may undertake more detailed

not always be well baseline monitoring

advanced, the status of studies, and to commence a

early consideration of formal Environmental and

these potential social Assessment to

environmental impacts support the

should be reported. Project.

Where these aspects have

not been considered this · No specific assumptions

should be reported with have been made regarding

an explanation of the possible waste and process

environmental residue disposal

assumptions options.

made.

Bulk · Whether assumed or · Bulk density

density determined. If assumed, determination for

the basis for the

assumptions. If unweathered material is

determined, the method derived from an analysis

used, whether wet or of dry density

dry, the frequency of measurements of drill core

the measurements, the from 14 diamond holes.

nature, size and

representativeness of

the · Whole core was used, but

samples. neither coated nor waxed.

The risk of not using a

· The bulk density for method which adequately

bulk material must have accounts for potential

been measured by methods void spaces is considered

that adequately account to be low in both the

for void spaces pegmatites and granitic

( rocks.

vugs, porosity, etc),

moisture and differences · In weathered material

between rock and (including minor

alteration zones within transported colluvium and

the

deposit. in-situ laterite), bulk

density was assumed, based

· Discuss assumptions for on data from other

bulk density estimates equivalent granite-hosted

used in the evaluation deposits.

process of the different

materials. · Bulk density was assigned

within the block model

attribute density

according to the

weathering profiles and

rock types.

Classific· The basis for the · Blocks have been

ation classification of the classified as Indicated or

Mineral Resources into Inferred, based on a

varying confidence combination of data

categories. spacing, interpolation

metadata (number of

· Whether appropriate composites used,

account has been taken conditional bias slope,

of all relevant factors

(i.e. relative kriging variance) and

confidence in geological understanding.

tonnage/grade Indicated Mineral

estimations, reliability Resources are defined

of input data, nominally on 50m x 50m to

confidence in continuity 50m x 25m spaced drilling

of geology and metal within the Main Zone

values, quality, pegmatite. Inferred

quantity and Mineral Resources are in

distribution of the part defined by data

data). density greater than 50m x

50m spaced drilling within

· Whether the result the Main Zone pegmatite,

appropriately reflects and for the bulk of the

the Competent Persons West Zone and

view of the

deposit. Sangar pegmatites.

· The Mineral Resource

estimate appropriately

reflects the Competent

Persons view of the

deposit.

Audits · The results of any · Whilst Mr. Bampton

or audits or reviews of (Competent Person) is

reviews Mineral Resource considered to be

estimates. independent of

Birimian, no third party

reviews have as yet been

completed on this Mineral

Resource

Discussio· Where appropriate a · The relative accuracy of

n of statement of the the Mineral Resource

relative relative accuracy and estimate is reflected in

accuracy confidence level in the the reporting of the

/ Mineral Resource Mineral Resource in

confiden estimate using an accordance with the

ce approach or procedure guidelines of the 2012

deemed appropriate by JORC

the Competent Person. Code.

For example, the

application of · The statement relates to

statistical or global estimates of tonnes

geostatistical and grade.

procedures to quantify

the relative accuracy of

the resource within

stated confidence

limits, or, if such an

approach is not deemed

appropriate, a

qualitative discussion

of the factors that

could affect the

relative accuracy and

confidence of the

estimate.

· The statement should

specify whether it

relates to global or

local estimates, and, if

local, state the

relevant tonnages, which

should be relevant to

technical and economic

evaluation.

Documentation should

include assumptions made

and the procedures

used.

· These statements of

relative accuracy and

confidence of the

estimate should be

compared with production

data, where

available.

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