Resources & Reserves

Mineral Resources

The Mineral Resources Statement for the Pilbara Copper-Zinc Project has been modified to reflect the change in the mineral resource for the Sulphur Springs Deposit which was announced to the ASX on the 15th April 2016.  There have been no other changes to the mineral resources for the other deposits listed in the table below:

Ore Reserves

The Ore Reserve Statement for the Pilbara Copper-Zinc Project at 30 June 2016 has been adjusted to reflect the changes to the Sulphur Springs Ore Reserve due to the updated geological resource model for the deposit and the revised mine plan as announced to the ASX on 28 June 2016 and amended on 1 July 2016.  The Ore Reserves for the Whim Creek and Mons Cupri Deposit remain unchanged and are based on the Feasiability Study for the Pilbrara Copper Zinc Project released to the ASX on 18 December 2012.

COMPETENCY STATEMENT

The information relating to the Mineral Resources within the Kangaroo Caves Deposit was prepared by Mr David Milton, Technical Manager of Hardrock Integrated Mining Solutions Pty Ltd.  All material and technical parameters underpinning the estimate was released to the market in the ASX announcement titled “Kangaroo Caves Resource Upgrade” dated 22 September 2015.

All material and technical parameters underpinning the estimated relating to the Mineral Resources for the other Deposits mentioned in Table 3, and Ore Reserves mentioned in Table 4 was detailed in the Company’s ASX announcement titled “Company Resource and Reserve Statement as at 30 September 2013” which was released to the market on 8 October 2013.  The Company is not aware of any new information or data that materially affects the Mineral Resources or Ore Reserves for the deposits since the date of the release.

The exploration data, and other technical data presented in this report was compiled by Mr James Guy.  Mr Guy is engaged by the Company as Consultant Exploration Manager.

Both Mr Milton and Mr Guy are members of the Australian Institute of Mining at Metallurgy and  have sufficient experience in the style of mineralisation under consideration and the activities undertaken to qualify as Competent Person as defined by the JORC Code (2012) of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.  Both Mr Milton and Mr Guy give their consent to the inclusion in this report of their information in the form and context in which it appears.