RE: Got the blues22 Jun 2026 21:20
A historic JORC (1996 Edition) inferred resource estimate was prepared in relation to the Maddens Underground Mine, The Brothers Underground Mine and the You-Can-Tell-Us Underground Mine in 1999 by GR Ryan & Associates. It was based partly on known unstoped blocks above and below existing development levels (rather than drilling). A global gold recovery of 85% was applied to the resource (gravity only) which confirmed high grade stopes and probable increase in tonnes. It was inferred that a total of 6,322oz of gold (gross) was present in future minable production at the Maddens Underground Mine, The Brothers Underground Mine and the You-Can-Tell-Us Underground Mine, which would have a total value of nearly A$38 million Au at A$6,000 per oz. Since the JORC inferred resource estimate was published in 1999, the operator has reported mining approximately 1,000 tonnes of ore at a grade of 26 g/t Au in total from the Maddens Underground Mine’s unstoped blocks above the 450m level.
Inferred Resource tabulation for the Maddens Underground Mine, The Brothers Underground Mine and the You-Can-Tell-Us Underground Mine (GR Ryan & Associates, 1999)
Category Gross – JORC report by GR Ryan & Associates 1999* Gross – Current Estimate (reflecting reductions from past mining since 1999) Net Attributable – based on JORC report by GR Ryan & Associates 1999* (following exercise of the Option) Net Attributable – Current Estimate reflecting reductions from past mining since 1999 (following exercise of the Option)
Mineral resources per asset Tonnes Grade(g/t) Contained Gold (oz) Tonnes Grade(g/t) Contained Gold (oz) Tonnes Grade(g/t) Contained Gold (oz) Tonnes Grade(g/t) Contained Gold (oz)
Maddens Underground Mine – Inferred* 6,260 22.09 4,446 5,260 21.35 3,610 3,130 22.09 2,223 2,630 21.35 1,805
The Brothers Underground Mine – Inferred* 1,060 38 1,295 1,060 38 1,295 530 38 648 530 38 648
You-Can-Tell-Us Underground Mine – Inferred* 750 24 579 750 24 579 375 24 289 375 24 289
Total 8,070 24.36 6,320 7,070 24.13 5,484 4,035 24.36 3,160 3,535 24.13 2,742
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