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Engaging Independent Technical Consultants
2013-11-25

The Board engaged Saint Barbara LLP, a leading geological consulting firm, to review the Competent Persons Report (“CPR”)...


The Board engaged Saint Barbara LLP, a leading geological consulting firm, to review the Competent Persons Report (“CPR”) completed in September 2007 specifically in relation to resource findings and work programme recommended for Montezuma. The CPR had been completed under the JORC 2004 Code. 

The Joint Ore Reserves Committee (“JORC”) revised their minimum standards, recommendations and guidelines for the public reporting of Exploration Results, Mineral Resources and Ore Reserves. The JORC Code, 2012 Edition, became effective from 20th December 2012 and mandatory from 1st December 2013. This development challenges some assumptions within our CPR and part of Saint Barbara’s assignment is to provide a resource estimate under current JORC standards.

The assignment takes two parts. A consultant geologist will visit Dublin for two days in December to examine in detail the database held at the offices of Minerex Environmental Limited. An interim report will be presented to the Board. The final part of the assignment will require the consultant geologist to conduct geological analysis at Montezuma and allow the work programme set out in the 2007 CPR to be appraised. Saint Barbara will provide a resource estimate applying JORC and offer a speculative resource figure covering the unexplored area. Saint Barbara will write a CPR to AIM listing standards. The final part of the assignment will take one month.