Geos Mining project 2660-04
Prospect
Broken Hill Prospecting Limited Thackaringa Cobalt-Pyrite Project
Program
Budget
Technical Assessment Report
Comment
Year 1 Database management, data compilation, 3D geological mapping, geophysical surveys (IP), and resource estimation. Thackaringa Project: Pyrite Hill/ Big Hill/ Railway Deposits
Drilling program (Diamond & RC) to target 100Mt Inferred Resource, compliant with the JORC Code 2012. Total 9,500m.
$250,000
$1,250,000
Has the potential to define new targets for drilling. Program has commenced Railway (50%: $625,000) Pyrite Hill (40%: $500,000) Big Hill (10%: $125,000)
Complete a Scoping Study which provides an economic analysis of the potential viability of mineral resources.
$500,000
Infill drilling program to define Indicated Resources (JORC 2012) identified with the greatest economic potential from the Scoping Study. Include drilling for resource upgrade, metallurgical and geotechnical studies. Mineral Resource estimate update. Baseline environmental monitoring.
$1,250,000
Railway (50%: $625,000) Pyrite Hill (40%: $500,000) Big Hill (10%: $125,000)
$1,250,000
Budget assumes positive results from Year 1 resource drilling & Scoping Studies
Year 2
Thackaringa Project: Pyrite Hill/ Big Hill/ Railway Deposits
Approx: 8,000m Complete a Pre-feasibility Study (JORC 2012) of the technical, commercial and economic feasibility of the development and mining of cobalt and associated products.
TOTAL
$4,500,000
Table 3: Proposed Two Year Program and Budget
4. Risk Assessment Geos Mining has limited the scope of this risk assessment to major factors relevant to this valuation. There has been no consideration of political stability, or of the financial risk arising from any lack of liquidity. We make no guarantee that all material risks have been included in this assessment.
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TECHNICAL ASSESSMENT REPORT
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PROSPECTUS
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