Group Annual Report EL 9250, 26609, 26619, 27125, 27126, 27566, 27812, 27979 and 28333 Supplejack Project GR166/12 from 16 October 2011 to 29 November 2012

Abstract

Exploration during the reporting period continued to focus on the Hyperion Prospects and included a RC drilling program and a maiden resource estimate. Drilling and sampling techniques, as well as Quality Assurance and Quality Control reports of ABM data have led to a maiden inferred resource estimate for the Hyperion and Hyperion South Prospects. When attempting to upgrade the classification to an indicated resource, it is advisable to twin a number of Newmont's RC holes to test their data reproducibility and obtain a better estimate of historic data accuracy. Reported resource estimates are extremely promising and further work will continue to aim at expanding resources at both projects. Nearby historically generated geochemical and structural targets warrant further drilling to test for a repeat of structures and mineralisation.