Resource Statement

The following table summarises the current Mineral Resource estimates for the Baobab Project using a P2O5 cut-off grade of 15%. The figures in this table are rounded to reflect the precision of estimates and include rounding errors. These estimates were first published in Avenira’s market announcement, “Maiden Indicated Mineral Resource at Baobab Phosphate Project” dated 7th December 2015. Avenira is not aware of any new information or data that materially affects the information included in that market announcement and all the material assumptions and technical parameters underpinning the estimates in that announcement continue to apply and have not materially changed.

 

GADDE BISSIK MINERAL RESOURCE TABLE – EFFECTIVE DATE 7/12/2015
PROSPECT CATEGORY TONNES P2O5 CaO MgO Al2O3 Fe2O3 SiO2
(Million) % % % % % %
Gadde Bissik East Within SMP area Indicated 12.6 21.0 28.8 0.08 2.05 3.30 41.3
Within SMP area Inferred 16 20 28 0.13 2.2 3.9 42
Outside SMP area Inferred 64 19 26 0.12 2.8 4.0 43
Combined Inferred 80 19 26 0.12 2.7 4.0 43
Gadde Bissik West Inferred 7 18 24 0.17 4.8 6.3 40
Total Gadde Bissik Indicated 12.6 21.0 28.8 0.08 2.05 3.30 41.3
Total Gadde Bissik Inferred 87 19 26 0.13 2.9 4.2 43

 
Drilling within the study area comprises 339 air core and 139 diamond holes for 17,906 metres of drilling. Drill hole spacing for assayed holes varies from around 125 by 125 metres and locally closer in central portions of the SMP area to around 1 by 2 kilometres in peripheral areas.

The current Mineral Resources represent two areas tested by generally 500 by 500 metre and closer spaced drilling designated as Gadde Bissik East and West respectively. Estimates for portions of the SMP at Gadde Bissik East tested by 250 by 250 and locally closer spaced drilling are classified as Indicated. Estimates for mineralisation tested by drill hole spacings of between 250 by 250 metres and 500 by 500 metres are classified as Inferred. Potential mineralisation in more broadly sampled areas is currently too poorly defined for estimation of Mineral Resources, and represents Exploration Targets.

Peripheral portions of the potential mineralised area tested by drill holes spaced at consistently greater than 500 by 500 metres have insufficient drilling for estimation of Mineral Resources. Broadly spaced drilling in these areas suggests the presence of an Exploration Target of around 100 Mt to 130 Mt at approximately 18 to 21 % P2O5. These estimates are based on broad-spaced drilling. The potential quantities and grades are conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain that future exploration will result in estimation of a Mineral Resource. The Exploration Target estimates are derived from portions of the Ordinary Kriged model based on approximately 1 by 1 kilometre to 2 by 1 kilometre spaced drilling reported at a P2O5 cut-off grade of 15% with appropriate factoring and rounding to generate a range of tonnages and grades.

Exploration drilling aimed at testing the Exploration Target east of Gadde Bissik and undrilled areas further to the east commenced in early December 2015.

 

Gadde Bissik resource location and drilling plan
Gadde Bissik resource location and drilling plan