Mineral Resources

Tembang Gold-Silver Project - Mineral Resource Statement at 31 December 2017

The Company’s Mineral Resource statement is in compliance with the JORC Code (2012 Edition) and was published on 28 April 2017. There have been no material changes to the Mineral Resource estimates since the date of publication, excepting depletion reported here. Mineral Resources are inclusive of Ore Reserves.

Cut-off grades: 2.87g/t Au (Belinau Underground) and 0.5g/t Au (open pits)

Deposit

Mineral Resource Category

Rock (Mt)

Au (g/t)

Ag (g/t)

Au (Moz)

Ag (Moz)

Belinau Undergound

Measured

0.036

12.03

122.1

0.014

0.140

Indicated

0.107

10.54

71.1

0.036

0.245

Inferred

0.066

7.88

22.4

0.017

0.048

Total

0.198

10.54

67.2

0.067

0.428

TOTAL

Measured

0.036

12.03

122.1

0.014

0.140

UNDERGROUND

Indicated

0.107

10.54

71.1

0.036

0.245

 

Inferred

0.066

7.88

22.4

0.017

0.048

 

TOTAL

0.198

10.54

67.2

0.067

0.428

Berenai Open Pit

Measured

-

-

-

-

-

Indicated

0.997

2.08

32.7

0.067

1.047

Inferred

0.773

1.62

26.1

0.040

0.648

Total

1.770

1.88

29.8

0.107

1.695

Asmar Open Pit

Measured

-

-

-

-

-

Indicated

1.522

1.20

21.0

0.060

1.009

Inferred

1.495

1.40

12.0

0.067

0.576

Total

3.017

1.30

16.0

0.127

1.584

Buluh Open Pit

Measured

000.3

7.40

12.0

0.001

0.001

Indicated

0.010

4.10

13.0

0.001

0.004

Inferred

0.014

3.10

13.0

0.001

0.006

Total

0.027

4.00

13.0

0.003

0.011

Bujang Open Pit

Measured

-

-

-

-

-

Indicated

0.214

2.70

37.0

0.019

0.251

Inferred

0.062

1.70

14.0

0.003

0.029

Total

0.276

2.50

32.0

0.022

0.280

Siamang Open Pit

Measured

0.001

0.90

20.8

0.000

0.001

Indicated

0.094

2.11

27.1

0.006

0.082

Inferred

0.182

1.79

21.4

0.011

0.125

Total

0.278

1.86

23.1

0.017

0.210

Tembang-Anang

Measured

-

-

-

-

-

Indicated

0.170

2.50

29.0

0.014

0.016

Inferred

0.055

2.10

30.0

0.004

0.053

Total

0.226

2.40

29.0

0.017

0.214

TOTAL

Measured

0.004

7.91

13.1

0.001

0.002

OPEN PIT

Indicated

3.007

1.73

26.4

0.167

2.553

 

Inferred

2.581

1.52

17.3

0.126

1.437

 

TOTAL

5.822

1.65

22.1

0.309

4.130

TOTAL

Measured

0.040

11.61

110.9

0.015

0.141

UNDERGROUND &

Indicated

3.115

2.03

27.9

0.204

2.798

OPEN PIT

Inferred

2.647

1.67

17.4

0.143

1.484

 

TOTAL

6.020

1.94

23.6

0.376

4.558


Competent Person’s Statement – Mineral Resources - Asmar, Bujang and Tembang-Anang

The information in the report to which this statement is attached that relates to the 2015 Mineral Resources estimates for Asmar, Bujang and Tembang-Anang, is based on information compiled by Mr Chris Black who is a member of the Australian Institute of Geoscientists and was then a full time employee of Cube Consulting Pty Ltd. Mr Chris Black 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 'Australian code for reporting of Exploration Results, Mineral Resource and Ore Reserves'. Mr Chris Black has previously consented to the inclusion in the report of the matter based on his information in the form and context in which it appears.

The updated Mineral Resources estimates for Asmar, and Bujang is based on the application of mining depletion to the original 2015 Mineral Resources estimates for Asmar, Bujang and Tembang-Anang, compiled by Mr Chris Black, and is based on information compiled by Mr Gary Powell, who is an independent consultant of the company and a Member of the Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists. Mr Powell has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity, which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Powell consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

Competent Person’s Statement – Mineral Resources – Berenai and Belinau

The information in the report to which this statement is attached that relates to the Mineral Resources estimate for Berenai and Belinau, is based on information compiled by Mr Denny Wijayadi who is a Member of the Australian Institute of Geoscientists and a full time employee of Cube Consulting Pty Ltd. Mr Wijayadi 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 'Australian code for reporting of Exploration Results, Mineral Resource and Ore Reserves'. Mr Wijayadi consents to the inclusion in the report of the matter based on his information in the form and context in which it appears.

The updated Mineral Resources estimates for Berenai and Belinau is based on the application of mining depletion to the 2016 Mineral Resources estimates for Berenai and Belinau, compiled by Dedy Wijayadi, and is based on information compiled by Mr Brian New, who is an employee of the company and a Member of the Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists. Mr New has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity, which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr New consents to the inclusion in this report of the matters based on his information in the form and context in which it appears

Competent Person’s Statement – Mineral Resources - Buluh-Siamang

The information in the report to which this statement is attached that relates to the 2015 Mineral Resources estimate for Buluh-Siamang, is based on information compiled by Mr Robert Spiers who is a member of the Australian Institute of Geoscientists and was then a full time employee of H & S Consultants Pty Ltd. Mr Robert 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 'Australian code for reporting of Exploration Results, Mineral Resource and Ore Reserves'. Mr Robert Spiers consents to the inclusion in the report of the matter based on his information in the form and context in which it appears.

The updated Mineral Resources estimates for Buluh-Siamang is based on the application of mining depletion to the original 2015 Mineral Resources estimates for Buluh-Siamang, compiled by Mr Chris Black, and is based on information compiled by Mr Gary Powell, who is an independent consultant of the company and a Member of the Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists. Mr Powell has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity, which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Powell consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.