Announcement PDF F o c u s e d A u s t r a l i a n M i n e r a l E x p lo r a t i o n C o m p a n y Monty Exploration Update th 17 December 2015 Monty Resource drilling well advanced New regional exploration targets identified Significant exploration planned at Springfield Springfield Joint Venture now formed COMPANY SNAPSHOT Board of Directors Alan Senior Non-Executive Chairman Gary Lethridge Managing Director Brian Dawes Non-Executive Director Karen Gadsby Non-Executive Director Highlights • Resource drilling at Monty is now estimated to be over 60% complete. Large backlog of drillholes awaiting sampling, despatch and assay. • A maiden Mineral Resource estimate for Monty is anticipated in the New Year. Contact Details • High-grade copper intercepts from recent assayed drilling include: Telephone: +61 8 9380 4230 TLDD0025 • 9.4 metres grading 7.2% Cu and 2.2g/t Au from 326.0m down-hole (down-hole width); Facsimile: + 61 8 9382 8200 Email: info@talismanmining.com.au TLDD0027 • 1.3 metres grading 11.5% Cu and 2.2g/t Au from 393.5m down-hole (down-hole width); and • 10.7 metres grading 6.2% Cu and 2.0g/t Au from 411.0m down-hole (down-hole width). Website: www.talismanmining.com.au Capital Structure TLDD0029 • 8.3 metres grading 8.0% Cu and 1.1g/t Au from 173.9 down-hole (down-hole width). Shares on Issue: 148,559,904 (TLM) Options on Issue: 6,400,000 (Unlisted) ASX: TLM • Joint Venture between Talisman and Sandfire now formed: o o o $15 million sole funding by Sandfire now complete (subject to audit of final $5 million exploration expenditure); Transfer of a 51% joint venture interest to Sandfire underway; Joint Venture budget of $7.5 million for the 3 month period December 2015 to February 2016 (inclusive) agreed, including continued resource drilling, regional exploration activities and preliminary scoping works. • Significant exploration is underway or planned at the Springfield Project by the Joint Venture within the period December 2015 to February 2016 including: o o o o o Drilling at the Homer Prospect has now commenced; Planned RC drilling to the north east of Monty along the prospective Monty Trend; RC drilling of geochemical anomalies at Monty South and the Southern Volcanics is planned; First pass drilling and assessment of the newly identified Monty Deeps is planned; and Planned infill aircore drilling at Monty South and first pass aircore drilling of a potential structural exploration target in the north east of the Springfield Project. Monty Update Talisman Mining Limited (ASX: TLM, “Talisman”) is pleased to announce that Sandfire Resources NL (ASX: SFR, “Sandfire”) has provided an update on current and planned exploration activities at the Monty coppergold discovery within the Talisman’s Springfield Project located to the east of the DeGrussa Copper-Gold Mine (see Appendix 1). The collar locations of advised holes drilled to date by Sandfire are shown in the plan view diagram below (see Figure 1) and in Table 1. Figure 1: Plan view of Monty showing drill-hole collar locations and simplified interpreted geology. Monty Resource Definition Drilling Sandfire has advised that resource definition drilling has continued and advanced at Monty with four diamond drill rigs drilling on double shift. Drilling has been focused on the definition of the Monty Lower Zone mineralisation and has been aimed at defining the edge and continuity of the mineralisation via an infill program. Sandfire has informed Talisman that approximately 8,000 metres of drilling has been completed since the last ASX Announcement on 5 November 2015. Talisman estimates that approximately 56 drill holes have now been drilled and that based on the estimated number of planned holes, the resource definition drilling campaign at Monty is now over 60% complete. Talisman understands that as a result of the accelerated resource definition drilling over the past two months and with other recent and ongoing exploration activity across the project, a back log has developed with respect to the processing and dispatch of diamond drill core from Monty to the assay laboratory for analysis. As such there are a significant number of assay results for recently completed holes that remain outstanding at this time. Monty Update Sandfire has advised Talisman that recent drilling intercepts are in general visually substantiating initial interpretations that were based on the wide-spaced initial exploration holes. Latest assay results (see Table 1) provide further support and assistance in confirming the continuity and grade of the mineralisation intersected to date at Monty and include the following results from the Lower Zone: TLDD0025 • 9.4 metres grading 7.2% Cu and 2.2g/t Au from 326.0m down-hole (down-hole width); TLDD0027 • 1.3 metres grading 11.5% Cu and 2.2g/t Au from 393.5m down-hole (down-hole width); and • 10.7 metres grading 6.2% Cu and 2.0g/t Au from 411.0m down-hole (down-hole width). Drilling has also potentially grown the extents of the mineralisation intersected to date in the Monty Upper Zone via the result below: TLDD0029 • 8.3 metres grading 8.0% Cu and 1.1g/t Au from 173.9m down-hole (down-hole width); An updated vertical longitudinal projection provided by Sandfire (looking to the south-east) is shown in Figure 2 below, with new assayed intercepts highlighted in yellow. Figure 2: Vertical Longitudinal Projection and initial interpretation of the Monty Prospect with drill-hole pierce points at the top of the primary intercept shown in bold. All intercepts are down-hole widths. A significant intersection is defined here as any intersection ≥ 3m estimated true width that has a grade of ≥ 2.0 % Cu, inclusive of non-mineralised material. To determine whether intersections that are <3m estimated true width are significant in terms of the above definition, non-mineralised material has been included at a grade of 0.0% Cu (weighted by width) until a 3m estimated true width is reached. If the overall grade remained >2.0% Cu, with the non-mineralised material included, then the intersection is considered significant. New intersections (not previously reported) are highlighted in yellow. Monty Update Resource drilling is anticipated to continue through to mid-February on a nominal 40m x 40m pattern with the results to be used in calculating the maiden Mineral Resource estimate for Monty in the New Year. Farm-In / Joint Venture Agreement As announced in Talisman’s September 2015 Quarterly Activities Report, Sandfire has provided Notice that as of 30 September 2015 it had sole-funded $10 million of exploration expenditure at Talisman’s Doolgunna projects. Following the satisfactory audit of this expenditure, Sandfire has now formally earned a 51% interest in the Doolgunna project tenements. Formal transfer of the 51% interest is underway. Sandfire has recently provided a further Notice stating it has sole-funded a further $5 million of exploration expenditure in order to earn an additional 19% interest in the Doolgunna projects tenements. The terms of the original farm-in were in an agreement dated 20 December 2013 (“Farm-in Agreement”) as announced to the ASX on 20 December 2013. Talisman is currently auditing this claimed expenditure before formally transferring the 19% interest to Sandfire. As Sandfire has now reached the $15 million expenditure threshold (project to date) Sandfire’s sole-funding obligation at Springfield has ceased and an unincorporated Joint Venture has been formed between Talisman and Sandfire. Talisman will now fund 30 per cent of all expenditure at Springfield, with Sandfire funding the remaining 70 per cent. Sandfire has been appointed the initial Manager of the Joint Venture. The parties are presently negotiating the terms of a Joint Venture Agreement. Pending the entering into of this agreement, the Farm-in Agreement continues to bind the parties. The Joint Venture has held its first meeting to approve the budgeted expenditure of $7.5 million on exploration over the next three months. This programme and budget is commencing December 2015. Talisman’s share of this approved budget is approximately $2.25 million and an initial cash call has been made and is payable by 31 December 2015. Planned Regional Exploration Activity – December 2015 to February 2016 Joint Venture activities for December 2015 to February 2016 are planned to include exploration activities in addition to the continuing definition and infill drilling of the Monty mineralisation. These planned activities include drilling programs that are stepping further afield and actively targeting additional accumulations of mineralisation along the 5km long Monty trend and also within the broader Springfield Project, which remains extremely prospective for further discoveries. The timing of planned exploration drilling at Springfield outside of the Monty resource drilling is dependent on the availability of the RC drill rig and its ability to be released from drilling pre-collar holes for the Mineral Resource definition program. Monty Deeps An exploration target outside of the Monty mineralised envelope (Monty Deeps) is planned to be tested for the potential to host additional massive sulphide accumulations in proximity to the existing Monty Lower Zone mineralisation. Monty Update To date, three holes (TLDD0007, TLDD0008 and TLDD0012) underneath and to the south west of the Monty Lower Zone have demonstrated the potential continuation of the host VMS exhalative stratigraphy. Drill hole TLDD0008 (5.1m @ 1.4% Cu and 0.1g/t Au), located approximately 80 metres below the current interpretation of the Lower Zone Monty mineralised envelope has highlighted the potential for further mineralisation within the host VMS horizon close to Monty. Desktop activities and diamond exploration drilling are planned for the first quarter of 2016 in order to provide an initial test of the potential in this location. Monty Trend The Joint Venture plans to complete a broadly spaced RC drilling program along the interpreted strike extension of the Monty host stratigraphy to the north east of the Monty mineralisation. Aircore drilling completed along strike from Monty to date has assisted Sandfire to identify the interpreted continuation of the prospective host stratigraphy along strike from Monty. Reconnaissance RC drilling is planned to test for the continuation of the Monty host horizon in the New Year. This reconnaissance exploration may assist in the development of new targets along this highly prospective VMS trend. Homer Trend A series of drill holes are planned at Homer which is located 4km along strike to the east of the DeGrussa Mine. Historic drill holes, TLDD0001 (August 2014) and TLDD0003 (June 2015), both intersected the interpreted extension of the DeGrussa C5 lens host VMS stratigraphy. This important interpretation indicates the significant exploration potential of the Homer Trend to host accumulations of VMS copper-gold mineralisation. A new drill hole, located approximately 3 kilometres along strike to the east of TLDD0003, targeted on a geochemical anomaly is now underway. Further drilling at Homer is currently planned, but its extent and timing will be driven by initial results and interpretations of the current drill hole. Springfield Geochemical Anomalies – New Exploration Targets Further afield from both the Monty and Homer prospective trends, aircore drilling and detailed geochemical analysis and interpretation has identified a series of geochemical anomalies that present as new exploration targets and warrant follow up RC drilling. These geochemical anomalies are located in areas within the Monty, Monty South and Southern Volcanics trends. These new exploration targets are planned to be tested by RC drilling in the New Year. Aircore Drilling To date, aircore drilling across the Springfield Project has proven to be an effective exploration technique to identify underlying geology and also provide valuable geochemical data that may assist vectoring towards prospective VMS horizons. Two aircore drilling programs are planned to be conducted by the Joint Venture over the next two to three months. Monty Update Monty South Recent work supports an interpretation that the Monty South prospect may represent a potentially significant extension of the highly prospective Monty Trend. This potential extension is in addition to the currently interpreted 5 km Monty VMS trend. This potential southern extension of the Monty Trend is interpreted to have undergone significant structural deformation that offsets the prospective Monty South stratigraphy from the Monty Trend by as much as 70 degrees. Aircore drilling completed to date has identified the interpreted continuation of the prospective host VMS stratigraphy with supportive geochemistry. An aircore infill drilling program is planned in the New Year at Monty South to increase the geological understanding of this broader prospect and potentially generate further exploration targets south of the 5 km Monty VMS trend. North East Springfield Structural Target Assessment of a geochemical anomaly located approximately five kilometres to the north-east of Monty, within the Yerrida Basin, is considered to be situated along a regionally significant fault zone. This zone is interpreted to have the potential to host epigenetic style copper mineralisation similar to that seen at the Thaduna deposit approximately twenty kilometres to the east. A program of aircore drilling is partially complete and is planned to recommence in the first quarter of 2016. This drilling program is anticipated to enable a further assessment of the exploration potential of this prospect. Planned Scoping Projects In addition to the aforementioned exploration work and resource definition drilling at Monty, initial scoping studies are underway or planned to commence during the next two to three months. These initial study works include resource modelling, mining studies, infrastructure assessments, as well as preliminary metallurgical, geotechnical, hydrological and environmental studies. ENDS For further information, please contact: Gary Lethridge – Managing Director on +61 8 9380 4230 For media inquiries, please contact: Nicholas Read – Read Corporate on +61 419 929 046 Competent Person’s Statement Information in this ASX release that relates to Exploration Results is based on information compiled by Mr Graham Leaver, who is a member of the Australian Institute of Geoscientists. Mr Leaver is a full time employee of Talisman Mining Ltd and has sufficient experience which is relevant to the style of mineralisation and types of deposit under consideration and to the activities undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australian Code for Reporting of Mineral Resources and Ore Reserves”. Mr Leaver consents to the inclusion in this report of the matters based on information in the form and context in which it appears. Monty Update Table 1 – Drill-hole Information Summary, Monty Prospect Details and co-ordinates of all relevant drill hole collars are provided in the table below: Hole ID Depth Dip Azimuth Grid_ID East North RL Lease ID Hole Status TLDD0002A 463 -61° 110° MGA94_50 743544 7171211 602 E52/2282 Complete TLDD0004A 817 -60° 148° MGA94_50 743588 7171281 601 E52/2282 Complete TLDD0005 478 -62° 139° MGA94_50 743544 7171210 602 E52/2282 Complete TLDD0006 554 -62° 140° MGA94_50 743469 7171174 601 E52/2282 Complete TLDD0007 589 -62° 138° MGA94_50 743504 7171271 601 E52/2282 Complete TLDD0008 688 -62° 138° MGA94_50 743441 7171223 600 E52/2282 Complete TLDD0009 472 -61° 140° MGA94_50 743578 7171190 602 E52/2282 Complete TLDD0010 433 -62° 142° MGA94_50 743514 7171138 601 E52/2282 Complete TLDD0011 472 -62° 141° MGA94_50 743451 7171092 598 E52/2282 Complete TLDD0012 598 -62° 140° MGA94_50 743403 7171155 599 E52/2282 Complete TLDD0014 399 -62° 143° MGA94_50 743638 7171231 603 E52/2282 Complete TLDD0015 376 -62° 146° MGA94_50 743561 7171073 602 E52/2282 Complete TLDD0016 274 -61° 147° MGA94_50 743621 7171119 604 E52/2282 Complete TLDD0017 236 -62° 146° MGA94_50 743686 7171166 605 E52/2282 Complete TLDD0018 340 -62° 146° MGA94_50 743471 7171054 599 E52/2282 Complete TLDD0019 552 -62° 141° MGA94_50 743566 7171329 600 E52/2282 Complete TLDD0020 340 -61° 141° MGA94_50 743536 7171106 602 E52/2282 Complete TLDD0021 331 -62° 144° MGA94_50 743599 7171152 603 E52/2282 Complete TLDD0022 304 -62° 141° MGA94_50 743441 7171035 599 E52/2282 Complete TLDD0024 571 -60° 141° MGA94_50 743470 7171172 600 E52/2282 Complete TLDD0025 406 -60° 141° MGA94_50 743481 7171113 600 E52/2282 Complete TLDD0026 409 -59° 141° MGA94_50 743609 7171209 602 E52/2282 Complete TLDD0027 511 -60° 143° MGA94_50 743521 7171193 602 E52/2282 Complete TLDD0028 441 -62° 143° MGA94_50 743569 7171129 602 E52/2282 Complete TLDD0029 247 -60° 319° MGA94_50 743594 7170898 602 E52/2282 Complete TLDD0030 237 -62° 317° MGA94_50 743626 7170922 603 E52/2282 Complete TLDD0033 589 -62° 142° MGA94_50 743536 7171306 600 E52/2282 Complete TLDD0038 313 -59° 147° MGA94_50 743633 7171178 604 E52/2282 Complete TLRC0003 544 -61° 144° MGA94_50 743720 7171393 599 E52/2282 Complete TLRC0004 306 -62° 142° MGA94_50 743497 7171025 600 E52/2282 Complete TLRC0006 318 -62° 143° MGA94_50 743430 7170973 598 E52/2282 Complete TLRC0008 294 -62° 143° MGA94_50 743461 7171001 599 E52/2282 Complete TLRC0009 265 -62° 141° MGA94_50 743527 7171050 601 E52/2282 Complete TLRC0012 210 -62° 143° MGA94_50 743553 7171017 602 E52/2282 Complete TLRC0015 138 -60° 320° MGA94_50 743503 7170953 600 E52/2282 Complete TLRC0016 120 -58° 317° MGA94_50 743580 7170985 602 E52/2282 Complete TLRC0017 120 -60° 318° MGA94_50 743548 7170968 601 E52/2282 Complete Monty Update Table 2 – Drill-hole Assay Intersections >1% for the Monty Prospect Details of all relevant intersections provided below. Estimated true widths have been calculated using estimated dip and dip-direction of modelled mineralisation surfaces at the drill-hole intersection and azimuth and dip of the drill-hole. Hole ID TLDD0004A TLDD0005 TLDD0008 TLDD0009 TLDD0010 TLDD0011 TLDD0014 TLDD0016 TLDD0020 TLDD0021 TLDD0024 TLDD0025 TLDD0026 TLDD0027 TLDD0029 TLDD0031 TLDD0033 TLRC0004 TLRC0008 TLRC0009 Interval 1 2 3 1 2 3 1 2 1 2 3 1 2 1 2 1 2 1 2 3 1 2 1 2 Intersection From (m) To (m) Downhole Width (m) Estimated True Width (m) Cu (%) Au (g/t) 409.5 417.0 574.2 343.0 363.1 385.8 355.6 359.7 373.6 370.9 334.2 359.4 168.5 272.3 239.0 286.2 300.2 445.6 326.0 325.6 339.4 393.5 411.0 173.9 175.7 183.6 485.1 489.2 496.0 107.0 158.0 89.0 112.0 133.0 426.0 426.2 579.3 344.0 371.0 390.6 356.1 370.2 378.2 371.3 334.7 362.8 168.9 273.8 242.4 294.2 301.4 448.2 335.4 332.9 361.0 394.8 421.7 182.2 176.0 184.5 485.4 489.7 498.0 125.0 162.0 95.0 123.0 145.0 16.5 9.2 5.1 1.0 7.9 4.8 0.5 10.5 4.6 0.4 0.5 3.4 0.4 1.5 3.4 8.0 1.2 2.6 9.4 7.3 21.6 1.3 10.7 8.3 0.3 0.9 0.3 0.5 2.0 18.0 4.0 6.0 11.0 12.00 10.9 6.1 3.2 0.5 5.8 3.0 0.3 6.3 2.9 0.2 0.3 2.0 0.3 0.9 1.8 4.6 0.7 1.7 3.6 4.7 15.2 0.9 7.0 6.6 0.2 0.7 0.2 0.3 1.3 5.1 1.2 1.4 2.5 2.8 18.9 11.8 1.4 8.6 8.3 4.9 1.2 18.9 12.8 1.2 3.6 3.5 1.4 13.8 17.9 13.3 3.8 14.2 7.2 6.2 34.4 11.5 6.2 8.0 2.9 6.9 4.1 12.7 4.2 5.7 4.2 7.8 15.0 5.7 2.1 2.9 0.1 0.3 2.4 1.1 1.4 3.1 2.5 1.3 0.1 0.8 0.1 1.1 3.9 1.8 1.7 1.1 2.2 2.8 0.4 2.2 2.0 1.1 0.2 1.1 0.9 1.6 1.4 2.4 0.7 0.9 1.9 1.8 Monty Update Appendix 1: Talisman’s Doolgunna Copper-Gold Projects subject to the $15M Exploration Farm-In Joint Venture with Sandfire Resources NL Monty Update Appendix 2 – Interpretive cross-section of the Monty mineralisation (Lower Zone) Monty Update Appendix 3 - JORC TABLE 1 Section 1 Sampling Techniques and Data (Criteria in this section apply to all succeeding sections) Criteria JORC Code explanation Commentary Sampling techniques • Nature and quality of sampling (e.g. 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. • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. • 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 (e.g. ‘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 (e.g. submarine nodules) may warrant disclosure of detailed information. • • Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. 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.). • Diamond drilling is completed using NQ2 size coring equipment. • RC drilling is with a face sampling hammer of a nominal 140mm hole diameter. • • All drill collars are surveyed using RTK GPS. All core, where possible is oriented using a Reflex ACT II RD orientation tool. Downhole surveying is undertaken using a gyroscopic survey instrument. Drilling techniques • • • • • • • • The sampling method employed by Sandfire i s h a l f -core sampling of NQ2 core from diamond drilling (DD). Sandfire collect RC samples by cone splitter for single metre samples or a sampling spear for first pass composite samples using a face sampling hammer with a nominal hole diameter of 140mm. Sampling is guided by Sandfire protocols as per industry standard. Diamond drill core sample size reduction is through a Jaques jaw crusher to -10mm and a second stage reduction via Boyd crusher to 4mm.Representitive sub samples are split and pulverised via an LM5 mill. RC samples are crushed to -4mm through a Boyd crusher and representative sub samples are split and pulverised with an LM5 mill. Pulverising is to nominal 90% passing -75µm and is checked using wet sieving technique. Samples are assayed using Mixed 4 Acid Digest (MAD) 0.3g charge and MAD Hotbox 0.15g charge methods with ICPOES or ICPMS. Fire Assay is completed by firing 40g portion of the sample with ICPMS finish. Monty Update Drill sample recovery • Method of recording and assessing core and chip sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the samples. • 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. • • • • • Logging Subsampling techniques and sample preparation • 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. • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography. • The total length and percentage of the relevant intersections logged. • If core, whether cut or sawn and whether quarter, half or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry. • For all sample types, the nature, quality and appropriateness of the sample preparation technique. • Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. • 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. • Whether sample sizes are appropriate to the grain size of the material being sampled. • • • • • • • • • Diamond core recovery is logged and captured into the database. Core recoveries are measured by drillers for every drill run. The core length recovered is physically measured for each run and recorded and used to calculate the core recovery as a percentage of core recovered. Appropriate measures are taken to maximise sample recovery and ensure the representative nature of the samples. This includes diamond core being reconstructed into continuous intervals on angle iron racks for orientation, metre marking and reconciled against core block markers. RC sample recovery is good with almost no wet sampling in the project area. Samples are routinely weighed and the information captured into the central secured database. No sample recovery issues have impacted on potential sample bias. Geological logging is completed for all holes and is representative across the orebody. The lithology, alteration and structural characteristics of core are logged directly to a digital format following procedures, and using Sandfire NL geologic codes. Data is imported into Sandfire NL’s central database after validation in LogChief™. Logging is both qualitative and quantitative depending on field being logged. All cores are photographed. All drill holes are fully logged. Diamond core orientations are completed where possible and all core is marked prior to sampling. Half core samples are produced using an Almonte Core Saw. Samples are weighed and recorded. RC samples are split using a cone or riffle splitter. The majority of samples collected are dry. On occasion that wet samples are encountered they are dried prior to splitting with a riffle splitter. All samples are sorted, dried at 80° for up to 24 hours and weighed. Samples are then crushed through a Jaques crusher to nominal -10mm. A second stage crushing is through a Boyd crusher to nominal -4mm. Sample splits are weighed at a frequency of 1:20 and entered into the job results file. Pulverising is completed using LM5 mill to 90% passing 75%µm using wet sieving technique. 1:20 grind quality checks are completed for 90% passing 75%µm criteria to ensure representativeness of sub-samples. Monty Update • Subsampling techniques and sample preparation (Continued) 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. • 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. • Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established. • • • • Verification of sampling and assaying • The verification of significant intersections by either independent or alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data. • • • • Sampling is carried out in accordance with Sandfire protocols as per industry best practice. No field duplicates have been taken. The sample sizes are considered appropriate for VHMS and Gold mineralisation types. Samples are assayed using Mixed 4 Acid Digest (MAD) 0.3g charge and MAD Hotbox 0.15g charge methods with ICPOES or ICPMS. The samples are digested and refluxed with a mixture of acids including Hydrofluoric, Nitric, Hydrochloric and Perchloric acids and analysis conducted for multi elements including Cu, Pb, Zn, Ag, As, Fe, S, Sb, Bi, Mo, Re, Mn, Co, Cd, Cr, Ni, Se, Te, Ti, Zr, V, Sn, W and Ba. The MAD Hotbox method is an extended digest method that approaches a total digest for many elements however some refractory minerals are not completely attacked. The elements S, Cu, Zn, Co, Fe, Ca, Mg, Mn, Ni, Cr, Ti, K, Na, V are determined by ICPOES, and Ag, Pb, As, Sb, Bi, Cd, Se, Te, Mo, Re, Zr, Ba, Sn, W are determined by ICPMS. Samples are analysed for Au, Pd and Pt by firing a 40g of sample with ICP AES/MS finish. Lower sample weights are employed where samples have very high S contents. This is a classical FA process and results in total separation of Au, Pt and Pd in the samples. The analytical methods are considered appropriate for this mineralisation styles. No geophysical tools are used in the analysis. Sandfire DeGrussa QAQC protocol is considered industry standard with standard reference material (SRM) submitted on regular basis with routine samples. SRMs and blanks are inserted at a minimum of 5% frequency rate. Significant intersections have been verified by alternate Sandfire personnel. None of the drillholes in this report are twinned. Primary data is captured on field Toughbook laptops using Logchief™ Software. The software has validation routines and data is then imported into a secure central database. The primary data is always kept and is never replaced by adjusted or interpreted data. Monty Update 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. • Specification of the grid system used. • Quality and adequacy of topographic control. • • • • • The Sandfire Survey Department undertakes survey works u