The accompanying statement of Mineral Resources conforms to the Australasian Code for Reporting of Exploration results, Mineral Resources and Ore Reserves (the JORC Code) 2004 Edition and is summarised in the following table:
Effective holdings
Catalpa Resources Limited owns 100% of the Edna May Operations Pty Ltd which in turn owns 100% of the Edna May Gold Project.
Catalpa Resources Limited owns 100% of Sedimentary Holdings Pty Ltd which in turn owns 30% of Cracow Gold Project. Cracow is an unincorporated joint venture between Catalpa (30%) and Newcrest (70%).
2009 Mineral Resource Footnotes
- The Greenfinch and Edna May Mineral Resource figures are stated at 31 December 2009 on a 100% attributable basis with depletion by production where relevant.
- The Cracow Mineral Resource is stated at 30 June 2009 on a 30% attributable basis with depletion by production where relevant.
- The Edna May and Greenfinch Mineral Resources have been stated at a 0.4g/t Au cut-off grade.
- The Cracow Mineral Resource is stated within an underground mining shape based on marginal cut-off.
- There are no known environmental, permitting, legal, taxation, political or other relevant issues that would materially affect the estimates of the Mineral Resources.
- Mineral Resources are inclusive of Ore Reserves. The stated contained Mineral Resource metal tonnes are considered insitu; beneficiation recovery factors have not been applied.
- The Greenfinch Resources are estimates of recoverable tonnes and grades using Multiple Indicator Kriging with block support correction into 25 metres (East) by15 metre (North) by 5 metre (Elevation) model blocks and assuming smallest mining unit for ore selection in mine grade control of 5 metres (East) by 3 metres (North) by 2.5 metres (Elevation).
- The Edna May Resources are estimates of recoverable tonnes and grades using Multiple Indicator Kriging with block support correction into 25 metres (East) by 20 metre (North) by 5 metre (Elevation) model blocks and assuming smallest mining unit for ore selection in mine grade control of 8 metres (East) by 5 metres (North) by 2.5 metres (Elevation).
- Edna May and Greenfinch Measured and Indicated Resources lie in areas where drilling is available at a maximum of 25 x 25 metre spacing, Inferred Resources exist in areas of broader spaced drilling, generally peripheral to the Measured and Indicated panels.
- Due to rounding of figures small discrepancies may exist.
The reported Edna May and Greenfinch Mineral Resource has been compiled by Mr Nic Johnson. Mr Johnson is a Member of the Australian Institute of Geoscientists and an employee of Hellman & Schofield Pty Ltd. He has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking, to qualify as a Competent Person as defined in the ‘Australasian Code for Reporting of Mineral Resources and Ore Reserves’ of December 2004 (“JORC Code”) as prepared by the Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy, the Australian Institute of Geoscientists and the Minerals Council of Australia. Mr Johnson consents to the inclusion in the report of the matters based on their information in the form and context in which it appears.
The reported Cracow Mineral Resource is based on a Competent Persons Statement provided by Newcrest Mining Limited on behalf of the Cracow Gold Joint Venture. Cracow is an unincorporated joint venture between Catalpa (30%) and Newcrest (70%). Further details on CGJV Ore Reserve are available on the Newcrest website: www.newcrest.com.au
The accompanying statement of Ore Reserves conforms with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore reserves (the JORC Code) 2004 edition.
Effective holdings
Catalpa Resources Ltd owns 100% of the Edna May Operations Pty Ltd which in turn owns 100% of the Edna May Gold Project.
Catalpa Resources Ltd owns 100% of Sedimentary Holdings Pty Ltd which in turn owns 30% of Cracow Gold Project. Cracow is an unincorporated joint venture between Catalpa (30%) and Newcrest (70%).
2009 Ore Reserve Footnotes
- The Edna May and Greenfinch Ore Reserve figures are stated at 31 December, 2009 on a 100% attributable basis with depletion by production where relevant.
- The Cracow Mineral Resource is stated at 30 June 2009 on a 30% attributable basis with depletion by production where relevant.
- Ore Reserves are the economically mineable part of Measured and/or Indicated Resources and include diluting materials and allowances for losses which may occur. Ore Reserves are quoted as a subset of Mineral Resources.
- Due to rounding of figures small discrepancies may exist.
- A gold price of A$1,250 per ounce has been assumed in estimating the Edna May and Greenfinch Ore Reserve.
- A gold price of US$650 per ounce has been assumed in estimating the Cracow Ore Reserve.
-The economic cut-off grade applied to the Greenfinch and Edna May Ore Reserve was 0.4g/t Au.
- There are no known environmental, permitting, legal, taxation, political or other relevant issues that would materially affect the estimates of the Ore Reserves.
The reported Edna May and Greenfinch Ore Reserves have been compiled by Mr Harry Warries. Mr Warries is a Member of the Australian Institute of Mining and Metallurgy and an employee of Coffey Mining Pty Ltd. He has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking to qualify as a Competent Person as defined in the ‘Australasian Code for Reporting of Mineral Resources and Ore Reserves’ of December 2004 (“JORC Code”) as prepared by the Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy, the Australian Institute of Geoscientists and the Minerals Council of Australia. Mr Warries gives Catalpa Resources Limited consent to use this estimate in reports.
The reported Cracow Ore Reserve is based on a Competent Persons Statement provided by Newcrest Mining Limited on behalf of the Cracow Gold Joint Venture. Cracow is an unincorporated joint venture between Catalpa (30%) and Newcrest (70%). Further details on CGJV Ore Reserve are available on the Newcrest website www.newcrest.com.au
