Exploration

The Buckreef Project is full of exploration potential. We recently announced the discovery of the Buckreef West Zone – interpreted a splay off the Main Zone Shear Zone (see below). There will be more updates on exploration to come.

Rock Sample
River Survey
Geologist Surveying

Boots on the ground - that is where the geologists feet belong. At Buckreef, since February, our geologists have been active in the field, ground truthing historical targets and discovering new ones. These are exciting times for the project as the extent of the exploration potential becomes apparent.

Drill rigs turning - Exploration targets require drilling and priorities are being set from our target generation program. The 2020 Mineral Resources conversion to Mineral Reserves forms part of the Feasibility Study. Drill rigs will return to Buckreef by the end of the second quarter.

Exploration Survey

View to west of Main Zone drilling and ground that is open. Potential underground mining potential is evident in the high-grade areas.

Target Generation - Multiple targets have and are being generated from new field observations, data and historical work. The geology team is currently finalizing an ‘Exploration Triangle’ for Buckreef which will be shared with the market in the coming quarter.

Magnetic Survey

1st VD Magnetic Survey with drill holes from Main Zone, Buckreef West and eastern Porphyry

Starter pit view to north east

Starter pit view to north east

Buckreef Surveyor at dam

Buckreef Surveyor at dam

Mining team

Mining team with GM

No Caption

INTRODUCING BUCKREEF WEST:

During 2020 and into early 2021 the Company identified and pursued drilling at Buckreef West. The goal of the program was to define additional oxide mineral resources and define a new mineralized shear zone. During the past two quarters, a total of 2,903m from 31 drillholes have been drilled at Buckreef West to conclude the current phase.

The drilling has consistently intersected a well pronounced sheared meta-basalt, with variable sulphide mineralization, and mild to strong quartz-carbonate-sericite-pyrite alteration typical of the Buckreef Main Zone. The Company will continue to evaluate the drill results and geology and prioritise the most prospective areas for infill drilling, with the explicit aim of upgrading the target to indicated mineral resource and ultimately into the mine plan. Assay results from samples received during the programme are summarized in the map, aerial image and table below.

Figure 1: Map with Recent Results from the Buckreef West Drilling Campaign

Buckreef Map Thumb

Table 1: Summary Table of Buckreef West Assay Results

Hole ID

Hole Typ

Drill Holes Location


Easting(m) Northing (m) RL(m) Azimuth Dip

Sample Depth

From(m) To(m)

Width(m)

Assay Grade

Litho.

Comment

BWDD001

DD

390,860

9,658,066

1,230

306

-60

18.5

19.1

0.60

5.41

Qv

10% quartz veining

20.6

21.5

0.90

4.28

Qv

10% quartz veining

BWDD002

DD

390,839

9,658,079

1,230

306

-60

20.8

21.7

0.95

4.22

Qv

10% quartz veining

21.7

22.8

1.06

0.13

Qv

5% quartz veining

BWDD003

DD

390,882

9,658,084

1,229

306

-60

72.0

72.9

0.94

0.39

Qv

5% quartz veining

72.9

73.5

0.56

0.34

Qv

5% quartz veining

BWDD004

DD

390,861

9,658,098

1,227

306

-60

33.0

34.0

1.00

0.56

Qv

5% quartz veining

47.9

48.5

0.64

2.76

Qv

10% quartz veining

BWDD005

DD

390,906

9,658,103

1,227

306

-60

100.0

100.5

0.50

0.25

Sz

Shear zone with mild alteration

111.0

111.6

0.57

0.37

Sz

Shear zone with mild alteration

BWDD006

DD

390,873

9,658,126

1,228

306

-60

45.7

51.0

5.31

4.92

Msz

Mineralised shear zone

59.0

63.0

4.00

4.42

Msz

Mineralised shear zone

BWDD007

DD

390,926

9,658,123

1,227

306

-60

0.0

8.0

8.00

1.07

Msz

Mineralised shear zone

17.0

22.0

5.00

1.08

Msz

Mineralised shear zone

67.0

68.9

1.88

0.79

Qv

Quartz vein

BWDD011

DD

390,932

9,658,154

1,228

306

-60

57.0

58.6

1.60

0.72

Qv

Quartz vein

BWDD012

DD

391,010

9,658,196

1,228

306

-60

92.0

96.0

4.00

2.19

Msz

Mineralised shear zone

98.4

104.0

5.57

4.95

Msz

Msz, incl 1.6m @ 13.5g/t Au

BWDD013

DD

390,997

9,658,205

1,228

306

-60

59.5

61.0

1.50

2.24

Msz

Mineralised shear zone

64.0

72.0

8.00

0.68

Msz

Mineralised shear zone

BWDD014

DD

390,983

9,658,215

1,229

306

-60

29.0

31.0

2.00

0.22

Sz

Shear zone with mild alteration

57.0

58.3

1.30

2.71

Qv

Quartz vein

61.6

62.3

0.72

5.59

Qv

Quartz vein

BWDD015

DD

391,042

9,658,204

1,228

306

-60

86.9

89.1

2.18

1.24

Msz

Mineralised shear zone

91.0

96.3

5.26

0.25

Sz

Shear zone with mild alteration

105.1

107.6

2.49

1.34

Msz

Mineralised shear zone

BWDD016

DD

391,026

9,658,216

1,228

306

-60

62.3

66.0

3.75

0.19

Sz

Shear zone with mild alteration

73.2

79.2

6.01

0.67

Sz

Shear zone with mild alteration incl 0.5m@3.59g/t Au

BWDD017

DD

391,005

9,658,231

1,228

306

-60

45.0

49.5

4.57

6.36

MSZ

Mineralised shear zone

BWDD018

DD

390,853

9,658,142

1,228

306

-60

44.0

51.0

7.00

2.03

Msz

Mineralised shear zone

56.0

59.9

3.85

2.86

Msz

Mineralised shear zone

BWDD019

DD

391,081

9,658,220

1,231

306

-60

72.5

74.0

1.50

0.23

Sz

Shear zone with Mild alteration

BWDD021

DD

391,066

9,658,231

1,231

306

-60

55.3

56.5

1.20

3.96

Msz

Mineralised shear zone

BWDD022

DD

391,094

9,658,250

1,228

306

-60

9.0

11.0

2.00

0.92

Qv

Quartz vein

41.0

47.3

6.30

2.99

Msz

Mineralised shear zone

BWDD023

DD

391,114

9,658,259

1,228

306

-60

17.0

22.0

5.00

1.04

Msz

Oxidised Mineralised shear zone

27.0

28.0

1.00

1.55

Msz

Oxidised Mineralised shear zone

37.0

44.0

7.00

0.56

Msz

Oxidised Mineralised shear zone

BWDD024

DD

391,142

9,658,263

1,227

306

-60

45.0

47.0

2.00

2.36

Msz

Mineralised shear zone

BWDD025

DD

391,148

9,658,282

1,227

306

-60

31.0

35.0

4.00

5.12

Msz

Mineralised shear zone

BWDD026

DD

391,177

9,658,260

1,227

306

-60

67.0

70.0

3.00

0.86

Msz

Mineralised shear zone

BWDD027

DD

391,168

9,658,294

1,227

306

-60

10.0

12.0

2.00

6.02

Msz

Mineralised shear zone. Incl 1m@10.95g/t Au

BWDD030

DD

390,880

9,658,193

1,228

306

-60

44.1

47.2

3.14

3.09

Msz

Mineralised shear zone

BWDD031

DD

390,952

9,658,197

1,228

306

-60

46.1

48.6

2.50

7.29

Msz

Mineralised shear zone

96.3

96.8

0.50

3.14

Qv

Quartz vein

106.7

107.2

0.52

4.46

Qv

Quartz vein

The sample chain of custody is managed by the Buckreef geology team on site. Reported results are from diamond drilled core samples. Intervals of core to be analyzed are split into half using a mechanized core cutter, with one half sent to the Laboratory for geochemical analysis and the remaining half kept in storage for future reference and uses. Diamond drilled core has been a HQ size and recoveries are consistently 100% across all drill holes intercept reported

Sampling and analytical procedures are subject to a comprehensive quality assurance and quality control program. The QAQC program involves insertion of duplicate samples, blanks and certified reference materials in the sample stream. Gold analyses are performed by standard fire assaying protocols using a 50-gram charge with atomic absorption (AAS) finish and a gravimetric finish performed for assays greater than 10 grams per ton.

Sample preparation and analysis are performed by independent Nesch Mintech Laboratory in Mwanza, Tanzania. Nesch Mintech Laboratory is ISO17025 accredited and employs a Laboratory Information Management System for sample tracking, quality control and reporting.

The results summarized in this release are from Buckreef West. The prospect is about 200m west of the Buckreef Main Zone. The intercepted shear zone from the drilling program extend for over 450m strike length and results reported covers about 250m strike length of the shear zone. The intersections reported here are a down-hole length and may not represent true width, but the true width is estimated to be between 50% - 60%. Buckreef Main Zone