dromana executes option to acquire highly prospective copper, gold and rare earths ...€¦ · ·...

Registered Office: Suite 106, 1 Princess Street Kew Vic 3101 Tel (03) 9855 1700 Fax (03) 9855 2353

Dromana Estate Limited ABN 58 090 000 276

22 March 2013

Dromana executes option to acquire highly prospective copper, gold and rare

earths project in Angola

Highlights

Dromana executes 3 month option to acquire Sable Minerals Pty Ltd, the 70% owner of the

3,670km2 Longonjo Project in Angola;

Previous exploration has outlined numerous high grade copper, gold and rare earth targets:

Catabola copper/gold prospect: a mineralised structure of 1.6km in length and up to 30m

wide with high grade copper intersections from sampling of underground adits, and trenches

including:

Adit 2 : 84m @ 0.81% Cu (including 6.4m @ 3.46% Cu and 5m @ 1.83% Cu)

Adit 3: 16m @ 0.75% Cu (including 4m @ 1.79% Cu)

Adit 2 cross cuts: 7.5m @ 3.46% Cu and 5m at 1.0 % Cu.

Longonjo rare earth prospect: 1.75km by 3.5km outcropping high grade rare earth element

prospect in a carbonatite intrusive (average grade 2.43% TREO, median grade 1.71% TREO in

a range of 0.10% – 18.9% TREO).

Bongo gold prospect: 10km long shear structure with gold in stream sampling.

Longonjo Project is ~70km from Huambo international airport, sealed roads and a rail line running

through the north of the permit linking the major port of Benguela. Infrastructure, services,

facilities and labour are all well established and available within the district; and

Dromana to commence immediate confirmatory due diligence exploration at the Longonjo Project.

Overview

Dromana Estate Limited (ASX.DMY) (“Dromana”) is pleased to announce that it has executed an exclusive

3 month option to acquire Sable Minerals Pty Ltd (“Sable Minerals”) an unlisted Australian private

company that holds the rights to a 70% interest in the Longonjo Project located in south west Angola.

Figure 1: Southern zone of the Catabola copper/ gold prospect showing historical workings at Cassenha Hill.

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Longonjo Project

The Longonjo Project licence covers 3,670km2 located within the well known extensive Archean and

Paleoproterozoic age rocks (Birimian characteristics) and younger carbonatites and kimberlites as seen in

West Africa and Eastern Brazil. Recent exploration of the Longonjo Project has identified numerous initial

targets within the licence area although 3 main areas have been the subject of focus over the last six

years. Widespread soil geochemical surveys and surface rock chip surveys have been undertaken with

follow up conducted by shallow pitting and trenching and underground channel sampling. However no

drilling has occurred apart from two shallow holes that failed before testing mineralisation at depth.

Figure 2: Longonjo Project location map.

As displayed in Figure 2 above, an existing railway line traverses through the Longonjo Project area to the

north, linking the project to the Atlantic deep water port at Benguela. The Longonjo Project is ideally

located near an international airport at Huambo (~70km west), sealed roads and town sites.

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Figure 3: Location of previously identified prospects.

Catabola copper/ gold prospect

The Catabola prospect copper gold targets comprise an area of approximately 180km2 with two

kilometre-scale, mineralised structures trending south east. An independent exploration review of the

Longonjo Project completed by SRK in 2010 compares the mineralisation in the Catabola area with well

known IOCG deposits, including projects that lie within the copper belt in Zambia and the Cu skarn and

IOCG deposits in Brazil. The main vein at Catabola around Cassenha Hill has a known strike length of

1.6km in length, with the outcropping vein at surface measuring up to 30m in width. Underground adit

sampling has confirmed the presence of high grade mineralisation at depths up to 30-50m below surface.

Broadly speaking:

Mineralisation is located close to boundary between metasediments and granites.

Mineralisation is structurally controlled with large shear and breccia zones.

There is strong potassic alteration and can contain quite high iron contents, including massive

hematite-magnetite, along with anomalous BI, Ba, Ce, U and Au.

There are large gossan zones and multiple breccia/sheared zones with anomalous Cu– whether

some of these are leached near surface remains to be confirmed.

Prospective widths are variable but can be quite large. At Cassenha Hill mineralisation zones can

be up to 20-30m wide while at Cambumbula, 5km to the south and south west, the main

structure is up to 800m wide.

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Figure 4: Copper staining at the opening of adit 2 running through the main vein at Catabola prospect.

Previous exploration work conducted at the Catabola prospect includes regional rock chip, soil and

stream sampling, surface trenching and underground adit channel sampling. The area around Cassenha

Hill provided the main focus with numerous adits investigated with channel sampling results including:

Adit 2: 84m @ 0.81% Cu

including 6.4m @ 3.46% Cu and 5m @ 1.83% Cu

Adit 3: 16m @ 0.75% Cu

including 4m @ 1.79% Cu)

Adit 2 cross cut: 7.5m @ 3.46% Cu and 5m at 1.0 % Cu

Various surface channel samples have returned results in the area around and above the adits including:

Trench 4: 10m at 1.1% Cu and 0.25 g/t Au (including 3m at 2.2% Cu and 0.09 g/t Au)

Trench2: 6m @ 0.7% Cu and 0.21 g/t Au

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Figure 5: Section at Cassenha Hill (Catabola Prospect) showing Adit No.2 mapping and sampling results.

Figure 6: Channel sampling of trench number 3 showing evidence of copper staining.

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The Catabola copper mineralisation is associated with gossanous contact zones, often brecciated and

veined, and comes with gold credits. Visible gold is reported frequently in mapping reports at both

Cassenha Hill and the wider area while regional studies commissioned by previous explorers have

identified at least 29 potential sites within the tenement considered prospective for Au-Cu

mineralisation. These occur at structural and geological contact positions with associated alteration

(Figure 7).

Figure 7: Other areas prospective for lode gold deposits within Longonjo Project.

The style of mineralisation at Catabola has been likened to Iron Oxide Copper Gold (IOCG) deposits

although at Catabola there is a strong component of shear/mylonite hosted Cu-(Au) mineralisation and

possibly mineralisation remobilised by subsequent orogenic events. 5km to the south and south west of

Catabola, the underexplored Cambumbula prospect may exhibit more pronounced IOCG affinities within

the same system evidenced by Cu-Au anomalism within high grade hematite-magnetite zones containing

up to 63% Fe.

Figure 8: Visible gold located in the ‘Roxi Vein’ at the Catabola project

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Longonjo REE Prospect

The Longonjo rare earth element (REE) Prospect is located near the town of Longonjo in the north –

central portion of the project area. The prospect consists of an intrusive carbonatite, surrounding a

series of polymitic, carbonate rich breccias. A strong zone of fenitisation alteration occurs around the

intrusive which is a classic alteration style for REE deposits. The Longonjo REE deposit has similar geology

and characteristics as other noted world class REE projects including Mt Weld in Western Australia (Lynas

Corp) and Ngualla in Tanzania (Peak Resources).

Exploration to date has included soil geochemical sampling programmes over approximately 8km2

resulting in the identification of a large +0.5% TREO soil anomaly over most of the outcropping

carbonatite – an area 3.5km long and up to 1.7km wide which is open to the south east. Further rock

chip, trench and pit samples collected within the anomalous area returned encouraging results with an

average grade 2.43% TREO, median grade 1.71% TREO and up to 18.9% TREO (Figure 10).

Figure 9: The Longonjo Carbonatite, looking from the south.

Figure 10: Longonjo REE prospect exploration result summary.

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The Longonjo rare earth element (REE) prospect outcrops at surface over an area 1.75km by at least

3.5km within a carbonatite intrusive. Figure 10 illustrates the outcrop with contours shown derived from

a soil sampling program conducted by Aurum Exploration Services, contracting to Sable Minerals and

Citiview. The high grades of Total Rare Earth Oxides (TREO) shown in the text boxes were obtained by

Black Fire Minerals Ltd from sampling the base of pits and trenches dug by backhoe in 2012. Rock chips

and trenching results suggest that the mineralisation remains open to the south east along fractures or

fissures in the carbonatite.

Bongo gold Prospect

Although largely underexplored, a 10km long NNE trending structure has been identified within the

Bongo gold prospect area. Recent work by Aurum Exploration Services, for Sable Minerals and Australian

Anglolan Resources Pty Ltd, and Black Fire Minerals Ltd has identified numerous shear zones through

stream sampling programs which have returned anomalous gold values that need to be followed up.

Bongo has an unusual association of gold with tungsten and is located along fault zones separating the

metasedimentary rocks from granite. Based on limited geological information, the gold tungsten

association suggests either a mesothermal or Sn – W – Au pegmatite mineralisation style.

Although early stage, the Bongo gold prospect has similar geological settings to the 5million ounce

Macraes Flat Gold Project in New Zealand.

Forward Work Programme/Use of Funds

Dromana will immediately commence exploration due diligence at the Longonjo Project during the three

month option period, to verify the historical work and results that have been presented. The extensive

database needs to be verified for accuracy and checked for completeness. Dromana will initiate due

diligence by collating all existing data on the project, and then proceed to a site visit with a confirmatory

surface and adit sampling programme at the Catabola copper/gold prospect and Longonjo REE prospect.

Terms of binding Term Sheet

The key terms of the binding term sheet between Dromana and Sable Minerals are outlined below:

a) A non-refundable payment of A$50,000 for an exclusive three month option period to acquire

100% of the issued capital in Sable Minerals;

b) The option period commenced upon execution of the binding term sheet, being 20 March 2013,

and unless exercised prior it shall end either three months from date of execution or 14 days

following the receipt of assay results undertaken at the Longonjo Project; and

c) Subject to Dromana’s satisfaction of the conditions precedent detailed below, at any time during

the option period, Dromana can exercise the option to acquire 100% of the issued capital in

Sable Minerals for the following consideration:

i. Issuing Sable Minerals 100,000,000 Dromana shares at a deemed value of $0.01 per

share (or the equivalent number of shares if the exercise of the Option results in the

Company having to comply with Chapters 1 and 2 of the ASX Listing Rules); and

ii. Issuing Sable Minerals 50,000,000 Dromana performance shares which will vest upon

completion of 2,000m of drilling at the Longonjo Project (or the equivalent number of

shares if the exercise of the Option results in the Company having to comply with

Chapters 1 and 2 of the ASX Listing Rules).

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Conditions Precedent to Completion of the Sable Minerals Term Sheet

On 20 March 2013, Dromana entered into binding Term Sheet with Sable Minerals, an unlisted private

Australian company. Settlement of the acquisition is subject to and conditional upon satisfaction of the

following conditions precedent, at Dromana’s sole discretion:

a) Completion of legal in-country due diligence;

b) Completion of geological and environmental community due diligence;

c) Dromana receiving shareholder approval and all other necessary legal and compliance approvals

for a change in the nature and scale of activities as part of the Acquisition; and

d) Completion of a re-listing equity fundraising by the Company of no less than A$3,000,000.

Refer to the indicative timetable below for the respective completion dates.

Indicative Re-compliance Timetable

The indicative timetable below assumes exercise of the option and re-compliance with Chapters 1 and 2

of the ASX Listing Rules.

Event Date

Execute binding term sheet with Sable Minerals 20 March 2013

Commence due diligence on Longonjo Project 20 March 2013

Dromana exercises option over Longonjo Project 11 June 2013

Despatch Notice of Meeting seeking approval of acquisition 12 June 2013

General Meeting to approve Change in Nature and Scale of Activities 12 July 2013

Suspension of Dromana’s securities from trading on ASX at the opening of trading 12 July 2013

Ex-Date – Consolidation 16 July 2013

Lodgement of Prospectus with ASIC 22 July 2013

Consolidation of Record Date 22 July 2013

Despatch Date – Consolidation 30 July 2013

Despatch of Prospectus 30 July 2013

Opening of Offer under the Capital Raising Prospectus 30 July 2013

Closing Date of Offer under the Capital Raising Prospectus 13 August 2013

Completion of Acquisition and issue of Shares under Capital Raising 20 August 2013

Anticipated date the suspension of trading is lifted and Dromana’s securities commence trading again on ASX

27 August 2013

Further contact:

Gabriel Chiappini (Chairman)

(08) 9327 1777

Competent Person Statement

The information in this report that relates to Exploration Results is based on information compiled by Andrew

Richards, who is a member of The Australasian Institute of Mining and Metallurgy and the Australian Institute of

Geoscientists. He is a full time employee of Arc Resources Pty Ltd which is providing consulting services to

Dromana Estate Limited.

Andrew Richards 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 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore

Reserves’. Andrew Richards consents to the inclusion in the report of the matters based on their information in

the form and context in which it appears.

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Appendix 1: Historical Adit trenching results from Catabola copper/gold prospect

ASSAYS

SAMPLE NO Sample

Type/Location

Interval (m) Sample length

Au3 Average Cu Cu %

From (m) To (m) m Au ppb

Au ppm

ppm

ADIT No. 1 (INCL TRENCH 14) CR0260 Trench n. 14 4.5 5.5 1.00 15 0.02 22,955 2.30%

CR0262 Trench n. 14 5.5 6.5 1.00 42 0.04 4,322 0.43%

CR0263 Trench n. 14 6.5 7.5 1.00 77 0.08 1,670 0.17%

CR0264 Trench n. 14 7.5 8.5 1.00 155 0.16 1,286 0.13%

CR0265 Trench n. 14 8.5 9.5 1.00 66 0.07 2,112 0.21%

CR0267 Trench n. 14 9.5 10.5 1.00 283 0.28 1,612 0.16%

CR0268 Trench n. 14 10.5 11.5 1.00 36 0.04 2,517 0.25%

CR0269 Adit n. 1 11.5 12.5 1.00 21 0.02 1,554 0.16%

CR0270 Adit n. 1 12.5 13.5 1.00 35 0.04 2,367 0.24%

CR0271 Adit n. 1 13.5 14.5 1.00 34 0.03 4,133 0.41%

CR0272 Adit n. 1 14.5 15.5 1.00 15 0.02 6,572 0.66%

CR0273 Adit n. 1 15.5 16 0.50 66 0.07 3,420 0.34%

CR0274 Adit n. 1 16 17 1.00 20 0.02 3,168 0.32%

CR0275 Adit n. 1 17 18 1.00 20 0.02 1,872 0.19%

CR0277 Adit n. 1 25

6 0.01 525 0.05%

CR0278 Adit n. 1 29

6 0.01 741 0.07%

CR0279 Adit n. 4 38

2889 2.89 100 0.01%

CR0280 Adit n. 4 34.5 35.5 1.00 97 0.10 1,653 0.17%

CR0281 Adit n. 4 23

129 0.13 1,536 0.15%

CR0282 Trench n. 3 5

84 0.08 7,953 0.80%

ADIT No. 2 (NO TRENCH PRECEEDING)

CR0173 Adit n. 2 4 8 4.00 45 0.05 5,214 0.52%

CR0174 Adit n. 2 8 12 4.00 30 0.03 5,140 0.51%

CR0176 Adit n. 2 12 15.6 3.60 15 0.02 7,952 0.80%

CR0177 Adit n. 2 15.6 16.4 0.80 11 0.01 3,250 0.33%

CR0178 Adit n. 2 16.4 16.9 0.50 86 0.09 8,031 0.80%

CR0179 Adit n. 2 16.9 17.7 0.80 22 0.02 10,277 1.03%

CR0180 Adit n. 2 17.7 18.7 1.00 401 0.40 8,333 0.83%

CR0181 Adit n. 2 18.7 19.7 1.00 58 0.06 10,266 1.03%

CR0182 Adit n. 2 19.7 20.7 1.00 107 0.11 9,379 0.94%

CR0183 Adit n. 2 20.7 21.8 1.10 119 0.12 6,284 0.63%

CR0184 Adit n. 2 21.8 22.1 0.30 99 0.10 6,230 0.62%

CR0186 Adit n. 2 22.1 22.4 0.30 143 0.14 27,659 2.77%

CR0187 Adit n. 2 23.9 24.6 0.70 230 0.23 1,504 0.15%

CR0188 Adit n. 2 24.6 25.1 0.50 44 0.04 2,681 0.27%

CR0189 Adit n. 2 25.1 26.1 1.00 113 0.11 9,723 0.97%

CR0190 Adit n. 2 26.1 27.1 1.00 57 0.06 26,403 2.64%

CR0191 Adit n. 2 27.1 28.3 1.20 26 0.03 23,480 2.35%

CR0192 Adit n. 2 28.1 29.8 1.70 302 0.30 5,744 0.57%

CR0193 Adit n. 2 30.5 31.5 1.00 309 0.31 6,367 0.64%

CR0194 Adit n. 2 31.5 32.1 0.60 149 0.15 7,429 0.74%

CR0195 Adit n. 2 32.1 32.8 0.70 172 0.17 5,939 0.59%

CR0197 Adit n. 2 32.8 33.8 1.00 16 0.02 49,267 4.93%

CR0198 Adit n. 2 33.8 37.8 4.00 22 0.02 10,610 1.06%

CR0199 Adit n. 2 37.8 41.7 3.90 5 0.01 1,290 0.13%

CR0200 Adit n. 2 41.8 44.9 3.10 9 0.01 1,655 0.17%

CR0201 Adit n. 2 44.9 45.9 1.00 9 0.01 33,868 3.39%

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CR0203 Adit n. 2 45.9 46.9 1.00 189 0.19 4,372 0.44%

CR0204 Adit n. 2 46.9 47.9 1.00 41 0.04 1,073 0.11%

CR0205 Adit n. 2 47.9 48.9 1.00 11 0.01 21,319 2.13%

CR0207 Adit n. 2 48.9 52.9 4.00 11 0.01 46,935 4.69%

CR0208 Adit n. 2 52.9 53.3 0.40 16 0.02 10,938 1.09%

CR0209 Adit n. 2 53.3 54.3 1.00 363 0.36 7,825 0.78%

CR0210 Adit n. 2 54.3 55.3 1.00 184 0.18 1,408 0.14%

CR0211 Adit n. 2 55.3 58.8 3.50 24 0.02 1,210 0.12%

CR0212 Adit n. 2 58.8 59.3 0.50 13 0.01 1,571 0.16%

CR0213 Adit n. 2 59.3 60.3 1.00 13 0.01 1,798 0.18%

CR0214 Adit n. 2 60.3 61.3 1.00 16 0.02 1,605 0.16%

CR0215 Adit n. 2 61.3 62.3 1.00 25 0.03 1,808 0.18%

CR0217 Adit n. 2 62.3 63.3 1.00 53 0.05 2,284 0.23%

CR0218 Adit n. 2 63.3 64.3 1.00 1112 1.11 4,474 0.45%

CR0219 Adit n. 2 65.5 69.5 4.00 13 0.01 5,892 0.59%

CR0220 Adit n. 2 69.5 73.5 4.00 28 0.03 873 0.09%

CR0221 Adit n. 2 78.8 79.8 1.00 9 0.01 449 0.04%

CR0222 Adit n. 2 79.8 80.8 1.00 10 0.01 488 0.05%

CR0223 Adit n. 2 80.8 81.6 0.80 6 0.01 2,440 0.24%

CR0224 Adit n. 2 81.6 82.6 1.00 15 0.02 3,085 0.31%

CR0225 Adit n. 2 82.6 83.6 1.00 17 0.02 5,132 0.51%

CR0227 Adit n. 2 83.6 84.6 1.00 13 0.01 2,537 0.25%

CR0228 Adit n. 2 84.6 85.6 1.00 14 0.01 1,143 0.11%

CR0229 Adit n. 2 87.2 88.2 1.00 88 0.09 465 0.05%

CR0230 Adit n. 2 88.2 89.2 1.00 29 0.03 3,639 0.36%

CR0231 Adit n. 2 89.2 90.2 1.00 31 0.03 3,503 0.35%

CR0233 Adit n. 2 90.2 94.2 4.00 30 0.03 3,720 0.37%

CR0234 Adit n. 2 94.2 98.2 4.00 20 0.02 2,551 0.26%

Channel and grab samples either side of Roxi vein

CR0235 Adit n. 2/C-3-W

44 0.04 650 0.07%

CR0236 Adit n. 2/C-3-E

46 0.05 653 0.07%


13 0.01 5,438 0.54%

CR0239 Adit n. 2/C-2-E 1

35 0.04 6,435 0.64%

CR0240 Adit n. 2/C-2-E 1.2

7 0.01 2,653 0.27%

CHANNEL SAMPLES IN EAST AND WEST CROSS CUTS OFF ADIT #2

CR0241 Adit n. 2/C-1-W-A 0 1 1.00 85 0.09 14,584 1.46%

CR0242 Adit n. 2/C-1-W-A 1 2 1.00 42 0.04 16,072 1.61%

CR0243 Adit n. 2/C-1-W-A 2 3 1.00 51 0.05 3,704 0.37%

CR0244 Adit n. 2/C-1-W-A 3 4 1.00 17 0.02 18,176 1.82%

CR0245 Adit n. 2/C-1-W-A 4 5 1.00 16 0.02 20,674 2.07%

CR0246 Adit n. 2/C-1-W-A 5 5.5 0.50 11 0.01 2,018 0.20%

CR0248 Adit n. 2/C-1-E-A 0 1 1.00 51 0.05 15,033 1.50%

CR0249 Adit n. 2/C-1-E-A 1 2 1.00 149 0.15 9,981 1.00%

CR0250 Adit n. 2/C-1-E-A 2 3 1.00 40 0.04 13,197 1.32%

CR0251 Adit n. 2/C-1-E-A 3 4 1.00 259 0.26 5,270 0.53%

CR0252 Adit n. 2/C-1-E-A 4 5 1.00 211 0.21 36,742 3.67%

CR0253 Adit n. 2/C-1-E-A 5 6 1.00 105 0.11 71,697 7.17%

CR0254 Adit n. 2/C-1-E-A 6 7 1.00 94 0.09 25,847 2.58%

CR0255 Adit n. 2/C-1-E-A 7 7.5 0.50 235 0.24 23,834 2.38%

CR0256 Adit n. 2/C-1-E-A 7.5 8.5 1.00 25 0.03 3,660 0.37%

CR0258 Adit n. 2

9 0.01 575 0.06%


73 0.07 5,045 0.50%

ADIT No. 3 (INCL TRENCH 3)

CR0033 TR03 0.00 1.00 1.00 98 0.10 4,805 0.48%

CR0036 TR03 1.00 2.00 1.00 108 0.11 2,705 0.27%

CR0037 TR03 2.00 3.00 1.00 75 0.08 2,220 0.22%

CR0038 TR03 3.00 4.00 1.00 1152 1.15 1,854 0.19%

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CR0039 TR03 4.00 5.00 1.00 188 0.19 9,662 0.97%

CR0040 TR03 5.00 6.00 1.00 86 0.09 24,508 2.45%

CR0041 TR03 6.00 7.00 1.00 80 0.08 28,836 2.88%

CR0042 TR03 7.00 8.00 1.00 355 0.36 8,434 0.84%

CR0043 TR03 8.00 9.00 1.00 72 0.07 2,429 0.24%

CR0044 TR03 9.00 10.00 1.00 995 1.00 2,045 0.20%

CR0045 TR03 10.00 11.00 1.00 50 0.05 7,169 0.72%

CR0047 TR03 11.00 12.00 1.00 79 0.08 4,285 0.43%

CR0146 Adit n.2 12 16 4.00 35 0.04 4,601 0.46%

CR0148 Adit n.3 16 20 4.00 32 0.03 3,506 0.35%

CR0149 Adit n.3 20 24 4.00 6 0.01 1,097 0.11%

CR0150 Adit n.3 24 28 4.00 -2 0.00 1,816 0.18%

CR0151 Adit n.3 28 32 4.00 3 0.00 518 0.05%

CR0153 Adit n.3 32 36 4.00 -2 0.00 402 0.04%

CR0154 Adit n.3 36 40 4.00 6 0.01 1,515 0.15%

CR0155 Adit n.3 40 41 1.00 60 0.06 2,562 0.26%

CR0156 Adit n.3 41 42 1.00 59 0.06 1,253 0.13%

CR0157 Adit n.3 42 42.5 0.50 60 0.06 2,031 0.20%

CR0158 Adit n.3 42.5 43 0.50 23 0.02 1,322 0.13%

CR0159 Adit n.3 43 47 4.00 30 0.03 781 0.08%

CR0160 Adit n.3 47 48.3 1.30 41 0.04 526 0.05%

CR0161 Adit n.3 48.3 49.4 1.10 18 0.02 1,187 0.12%

CR0164 Adit n.3 51.8 52.3 0.50 26 0.03 1,499 0.15%

CR0165 Adit n.3 52.3 56.3 4.00 2 0.00 387 0.04%

CR0166 Adit n.3 56.3 60.3 4.00 2 0.00 257 0.03%

CR0167 Adit n.3 60.3 64.3 4.00 2 0.00 172 0.02%

CR0168 Adit n.3 64.3 68.3 4.00 6 0.01 456 0.05%

CR0169 Adit n.3 68.3 72.3 4.00 10 0.01 373 0.04%

CR0170 Adit n.3 72.3 76.3 4.00 3 0.00 1,629 0.16%

CR0171 Adit n.3 76.3 78.4 2.10 6 0.01 354 0.04%

ADIT 4 (Trench & Underground channel)

CR0001 TR01 12.50 13.50 1.00 5 0.01 5,386 0.54%

CR0002 TR01 13.50 14.50 1.00 43 0.04 1,911 0.19%

CR0003 TR01 14.50 15.50 1.00 2 0.00 922 0.09%

CR0004 TR01 16.80 17.80 1.00 8 0.01 1,316 0.13%

CR0005 TR01 17.80 20.80 3.00 41 0.04 2,183 0.22%

CR0006 TR01 20.80 23.80 3.00 44 0.04 1,744 0.17%

CR0007 TR01 23.80 26.80 3.00 40 0.04 1,146 0.11%

CR0008 TR01 26.80 29.80 3.00 64 0.06 1,011 0.10%

CR0009 TR01 29.80 32.80 3.00 22 0.02 506 0.05%

CR0010 TR01 32.80 33.80 1.00 73 0.07 2,003 0.20%

CR0011 TR01 33.80 34.80 1.00 70 0.07 1,708 0.17%

CR0012 TR01 34.80 35.80 1.00 30 0.03 1,867 0.19%

CR0013 TR01 35.80 36.80 1.00 15 0.02 852 0.09%

CR0014 TR01 36.80 37.80 1.00 33 0.03 1,210 0.12%

CR0015 TR01 37.80 38.80 1.00 96 0.10 567 0.06%

CR0016 TR01 38.80 39.80 1.00 72 0.07 276 0.03%

CR0114 Adit n. 4 39.8 40.8 1.00 131 0.13 179 0.02%

CR0115 Adit n. 4 40.8 41.8 1.00 53 0.05 300 0.03%

CR0116 Adit n. 4 41.8 45.8 4.00 129 0.13 257 0.03%

CR0117 Adit n. 4 45.8 49.8 4.00 7 0.01 480 0.05%

CR0119 Adit n. 4 49.8 53.8 4.00 3 0.00 926 0.09%

CR0121 Adit n. 4 56 57 1.00 9 0.01 570 0.06%

CR0122 Adit n. 4 57 61 4.00 60 0.06 284 0.03%

CR0123 Adit n. 4 61 65 4.00 42 0.04 134 0.01%

CR0124 Adit n. 4 65 67 2.00 12 0.01 174 0.02%

CR0125 Adit n. 4 67 69 2.00 117 0.12 176 0.02%

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CR0126 Adit n. 4 69 70.5 1.50 45 0.05 172 0.02%

CR0127 Adit n. 4 70.5 71.8 1.30 113 0.11 1,390 0.14%

CR0128 Adit n. 4 71.8 73.1 1.30 12 0.01 2,422 0.24%

CR0129 Adit n. 4 73.1 73.5 0.40 21 0.02 2,138 0.21%

CR0130 Adit n. 4 73.5 74.5 1.00 53 0.05 951 0.10%

CR0131 Adit n. 4 74.5 75.3 0.80 42 0.04 500 0.05%

CR0132 Adit n. 4 75.3 75.7 0.40 24 0.02 1,290 0.13%

CR0134 Adit n. 4 75.7 76.7 1.00 35 0.04 500 0.05%

CR0135 Adit n. 4 76.7 77.7 1.00 17 0.02 384 0.04%

CR0137 Adit n. 4 78.7 82.7 4.00 25 0.03 1,211 0.12%

CR0138 Adit n. 4 82.7 84.7 2.00 4 0.00 1,712 0.17%

CR0139 Adit n. 4 84.7 86.7 2.00 5 0.01 2,946 0.29%

CR0140 Adit n. 4 86.7 88.7 2.00 10 0.01 1,504 0.15%

CR0141 Adit n. 4 88.7 90.7 2.00 49 0.05 2,163 0.22%

CR0142 Adit n. 4 85

-2 0.00 88 0.01%

CR0143 Adit n. 4 77.5

37 0.04 361 0.04%

CR0144 Adit n. 4 69.8

12 0.01 302 0.03%

CR0145 Adit n. 4 96.5 97.5 1.00 26 0.03 1,781 0.18%

OTHER TRENCHES

Trench 2

CR0017 TR02 4.00 5.00 1.00 364 0.36 152 0.02%

CR0018 TR02 5.00 6.00 1.00 31 0.03 777 0.08%

CR0019 TR02 6.00 7.00 1.00 54 0.05 1,581 0.16%

CR0020 TR02 7.00 8.00 1.00 21 0.02 991 0.10%

CR0021 TR02 8.00 9.00 1.00 16 0.02 398 0.04%

CR0022 TR02 9.00 10.00 1.00 145 0.15 237 0.02%

CR0023 TR02 10.00 11.00 1.00 80 0.08 370 0.04%

CR0024 TR02 11.00 12.00 1.00 39 0.04 501 0.05%

CR0025 TR02 12.00 13.00 1.00 22 0.02 1,541 0.15%

CR0026 TR02 13.00 14.00 1.00 18 0.02 2,256 0.23%

CR0027 TR02 14.00 15.00 1.00 149 0.15 3,939 0.39%

CR0028 TR02 15.00 16.00 1.00 1006 1.01 4,276 0.43%

CR0029 TR02 16.00 17.00 1.00 93 0.09 5,180 0.52%

CR0030 TR02 17.00 18.00 1.00 14 0.01 11,442 1.14%

CR0031 TR02 18.00 19.00 1.00 4 0.00 7,983 0.80%

CR0032 TR02 19.00 20.00 1.00 23 0.02 9,044 0.90%

Trench 4

CR0048 TR04 1.00 2.00 1.00 49 0.05 2,383 0.24%

CR0049 TR04 2.00 3.00 1.00 32 0.03 4,055 0.41%

CR0050 TR04 3.00 4.00 1.00 107 0.11 14,370 1.44%

CR0051 TR04 4.00 5.00 1.00 1241 1.24 2,462 0.25%

CR0052 TR04 5.00 6.00 1.00 510 0.51 2,683 0.27%

CR0053 TR04 6.00 7.00 1.00 167 0.17 10,752 1.08%

CR0054 TR04 7.00 8.00 1.00 157 0.16 5,564 0.56%

CR0055 TR04 10.00 11.00 1.00 141 0.14 10,982 1.10%

CR0056 TR04 11.00 12.00 1.00 32 0.03 23,407 2.34%

CR0058 TR04 12.00 13.00 1.00 90 0.09 33,574 3.36%

Trench 5

CR0060 TR05 8.00 9.00 1.00 101 0.10 1,354 0.14%

CR0061 TR05 9.00 10.00 1.00 61 0.06 1,024 0.10%

CR0062 TR05 10.00 11.00 1.00 146 0.15 4,098 0.41%

CR0063 TR05 11.00 12.00 1.00 499 0.50 2,386 0.24%

CR0064 TR05 12.00 13.00 1.00 42 0.04 198 0.02%

Trench 6

CR0065 TR06 14.00 15.00 1.00 152 0.15 1,693 0.17%

CR0067 TR06 15.00 16.00 1.00 69 0.07 1,521 0.15%

CR0069 TR06 16.00 17.00 1.00 20 0.02 1,232 0.12%

CR0070 TR06 17.00 18.00 1.00 224 0.22 1,535 0.15%

Trench 7

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CR0071 TR07

98 0.10 777 0.08%

CR0073 TR07

19 0.02 121 0.01%

Trench 8

CR0074 TR08 0.00 1.00 1.00 -2 0.00 68 0.01%

CR0075 TR08 1.00 2.00 1.00 11 0.01 54 0.01%

CR0076 TR08 2.00 3.00 1.00 -2 0.00 77 0.01%

CR0077 TR08 3.00 4.00 1.00 2 0.00 71 0.01%

CR0079 TR08 4.00 5.00 1.00 6 0.01 61 0.01%

CR0080 TR08 5.00 6.00 1.00 2 0.00 445 0.04%

Trench 9

CR0081 TR09 0.00 1.00 1.00 -2 0.00 95 0.01%

CR0082 TR09 1.00 2.00 1.00 2 0.00 164 0.02%

CR0083 TR09 2.00 3.00 1.00 2 0.00 194 0.02%

CR0084 TR09 3.00 4.00 1.00 4 0.00 247 0.02%

CR0085 TR09 4.00 5.00 1.00 -2 0.00 118 0.01%

CR0086 TR09 5.00 6.00 1.00 2 0.00 252 0.03%

CR0087 TR09 6.00 7.00 1.00 -2 0.00 226 0.02%

CR0089 TR09 7.00 8.00 1.00 -2 0.00 143 0.01%

CR0090 TR09 8.00 9.00 1.00 2 0.00 263 0.03%

CR0091 TR09 9.00 10.00 1.00 -2 0.00 104 0.01%

Trench 10

CR0092 TR10 0.00 1.00 1.00 8 0.01 316 0.03%

CR0093 TR10 1.00 2.00 1.00 4 0.00 626 0.06%

CR0094 TR10 2.00 3.00 1.00 3 0.00 811 0.08%

CR0095 TR10 3.00 4.00 1.00 2 0.00 331 0.03%

CR0097 TR10 4.00 5.00 1.00 28 0.03 1,154 0.12%

CR0099 TR10 5.00 6.00 1.00 11 0.01 1,508 0.15%

CR0100 TR10 6.00 7.00 1.00 24 0.02 1,563 0.16%

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Appendix 2: Historical sampling results from the Longonjo REE prospect

Black Fire Minerals Ltd Technical Report Qtr 1 - 2012

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dromana executes option to acquire highly prospective copper, gold and rare earths ...€¦ · ·...

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