Independent Technical Review – Interim Report
The Board received an interim report from Saint Barbara LLP relating to the Montezuma gold property.
The Board received an interim report from Saint Barbara LLP relating to the Montezuma gold property. This followed a two day workshop conducted at the offices of Minerex Environmental Limited which Cecil Shine, its Managing Director and consultant geologist to the Company, participated in. Based on due diligence work undertaken including examination of the Excel Spreadsheet Database covering sampling data, Saint Barbara estimated an inferred JORC compliant resource of 345,500 ozs Au with an average grade of 4.97 g/t on 2.15ml tonnes.
In relation to the non JORC resource calculation, there is 9.97 sq. km to be evaluated, circa 5.5 times the size of the area already evaluated.
Final figures for a JORC compliant resource and a speculative, non JORC, resource will be determined after a site visit and geological analysis are carried out.