executive summary report of exploration programme at pl 934 … rapport/mace/ moag_pl934_mace... ·...

SLR Consulting Ireland, 7 Dundrum Business Park, Windy Arbour, Dublin 14, Ireland

T: +353 1 296 4667 F: +353 1 296 4676 www.slrconsulting.com

Directors: R. O’Dowd, N. O’Neill, T. Paul (Managing), N. Penhall (British), l. Roberts (British). Secretary: R. O’Dowd

Registered in Ireland as: SLR Environmental Consulting (Ireland) Limited. Registered No.253332. VAT No. 8253332J

PL 934, Mace, Co. Galway, Ireland

Executive Summary Report of

Exploration Programme at PL 934 Mace (2015)

MOAG Copper Gold Resources Inc.

Dr. Deirdre Lewis PhD PGeo EurGeol

Paul Gordon MSc. PGeo EurGeol

Ciara Bannon BSc. (Hons) MIT (IGI)

Shane Lavery BSc. (Hons) MIT (IGI)

July 2016

SLR Ref: (160720).501.00343.00001.R5 Rev0

http://www.slrconsulting.com/

MOAG Copper Gold Resources Inc. SLR 501.00343.00005.R5 Rev0 PL 934 Mace: Summary of Exploration Programme 2015 July 2016

SLR Consulting www.slrconsulting.com ii

Location Map of PL 934 Mace, Co Galway, Ireland



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TABLE OF CONTENTS

1.0 INTRODUCTION .................................................................................................................... 1 1.1 Regulatory Environment............................................................................................ 1 1.2 PL 934 Mace: Exploration Activities ........................................................................ 1

2.0 UAV SURVEY ........................................................................................................................ 1

3.0 GEOLOGY .............................................................................................................................. 2

4.0 GEOPHYSICS ........................................................................................................................ 2

5.0 ENVIRONMENTAL ASSESSMENTS .................................................................................... 3 5.1 Ecological Impact Assessment ................................................................................ 3 5.2 Screening for Appropriate Assessment .................................................................. 3

6.0 DRILLING ............................................................................................................................... 3

7.0 2D AND 3D MODELLING ...................................................................................................... 4

8.0 CONCLUSIONS ..................................................................................................................... 5

9.0 RECOMMENDATIONS .......................................................................................................... 5

10.0 QUALIFIED PERSONS .......................................................................................................... 6

TABLES

Table 1: Maximum contiguous intervals at 0.04% Mo or better for 2014-2015 drillholes...7

FIGURES

Figure 1. Orthophotographic Mapping from UAV Survey ...................................................... 10

Figure 2. DEM overlain with interpreted structural geology .................................................. 11

Figure 3. Gradient Array IP: Chargeability Mapping ............................................................... 12

Figure 4. Plan view of drilling with composited assays shown downhole. Grades are averaged over a minimum downhole interval of 3.0m ............................................................. 13

Figure 4a. Structural interpretation overlaid on drillhole traces, with composited intervals........................................................................................................................................................ 14

Figure 5. Quartz vein with molybdenite, chalcopyrite and pyrite .......................................... 15

Figure 6. Example of partially Mo coated fracture plane, with slickensides and <1cm wide quartz vein with Mo at vein contacts ......................................................................................... 15

Figure 7. Partially vuggy chalcopyrite and pyrite fill in quartz vein with molybdenite infill. Molybdenite (dark grey) also concentrated at vein margins. ................................................. 15

Figure 8. 3D view of Mace Deposit, looking northwest ........................................................... 16

Figure 9. 3D view of Mace Deposit, looking NNE. Voxel represents Mo:Cu ratio ............... 17



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1.0 INTRODUCTION

MOAG Copper Gold Resources Inc. (MOAG) continued its exploration programme over the molybdenite-copper (Mo-Cu) porphyry deposit at Mace, near Carna, Co. Galway, Ireland, throughout 2015. This report describes the exploration activities carried out by SLR Consulting (SLR) on behalf of MOAG.

1.1 Regulatory Environment

There is a well-established regulatory process in Ireland with a highly regarded investment climate for minerals development. The holder of a Prospecting Licence has undeniable security of tenure. If the PL holder makes an economic discovery, only the holder may apply for the right to exploit the discovered minerals through a Mining Licence, with full and secure legal rights as set out in practice and in legislation. This well-defined situation is one of the primary reasons why Ireland had the number one ranking in the Fraser Institute’s Policy Perception Index (PPI) (https://www.fraserinstitute.org/studies/annual-survey-of-mining-companies-2015) of 109 international mining jurisdictions. In 2015, Ireland held the highest PPI score of 100.

1.2 PL 934 Mace: Exploration Activities

During the 2015 exploration campaign at PL934 Mace, the following activities were carried out:

Topographic Survey and Aerial Photography: The survey, using an unmanned aerial vehicle (UAV or ‘Drone’), supplied a high quality and reliable base map of the prospective area for all exploration activities.

Geological Mapping: The structural geology of the deposit is fundamental to its understanding and geological mapping has successfully informed exploration at Mace.

Geophysics Survey (Gradient Array Induced Polarisation & Resistivity): The survey helped to develop further drill targets in the Mace area.

Environmental Assessments: Two assessments were carried out prior to commencing drilling operations at Mace.

o Ecological Impact Assessment: The EcIA identified sensitive zones within the deposit area, and proposed practical mitigation measures.

o Screening for Appropriate Assessment (AA): The AA Stage 1 screening survey found that further assessment was not required at this stage of exploration.

Diamond Drilling: The 2015 drill programme (25 diamond drillholes for a total of 5,002m) has confirmed mineral continuity and significantly increased the dimensions of the deposit in all directions.

The field management, modelling and geological interpretation of data generated by those activities are reported below.

2.0 UAV SURVEY

A fixed wing eBEE UAV was used to carry out the survey. The eBEE carried a high resolution camera for aerial photography, as well as GPS and survey equipment for measuring elevation.

The survey provided two crucial outputs:-

A detailed, high-resolution aerial photography (see Figure 1) of the entire Mace area and

Detailed elevation data from which a Digital Elevation Model (DEM) was created (see Figure 2).

The aerial photography was used as a base map for all other exploration-related activity, and the DEM was used for 3D modelling of drill results and the geology of the deposit. The DEM has


https://www.fraserinstitute.org/studies/annual-survey-of-mining-companies-2015



been particularly useful for structural geology mapping. Not only do the fault structures control mineralisation, they also strongly influence the topography in the area and aid in geological interpretation.

3.0 GEOLOGY

The Mace Deposit is located in the northwestern zone of the Galway Granite, a large and complex body of granitic rocks, outcropping along the north shore of Galway Bay and extending inland for c. 20km. The molybdenum and copper mineralisation has been dated by researchers as being of c.410 million years in age, related to the late stages of granite emplacement.

The Mace Deposit is a porphyry molybdenum-copper system which was partially explored during 1968-1970 by a shallow (50m), widely-spaced, drilling program within a broad area of 1400m in length and up to 300m in width. It is believed that loss of the mineral molybdenite (MoS2) in the historical coring process may have resulted in depressed analytical results for molybdenum (Mo). Based on that campaign and further detailed analysis, the Mace prospect was considered by MOAG to be an excellent exploration target.

Following the grant of drilling permission by the Irish Competent Authority, EMD, a 6-hole diamond drill program for 1100m was activated by MOAG in 2014 at Mace. The results of that program were extremely encouraging, defining a mineralized zone of approximately 400m by 200m, with mineralization extending to vertical depths of more than 160m. A comprehensive diamond drill program for 5000m was undertaken in 2015, confirming a larger mineralized zone, c. 1400m (southwest-northeast) by 300m (southeast-northwest) to vertical depths of 200m.

The mineralisation has a distinct south-southwest (SSW) to north-northeast (NNE) orientation, controlled by faults of that orientation (see Figure 2). Extensional fault movement resulted in quartz vein arrays, carrying molybdenite and chalcopyrite, along the trend. Molybdenite and chalcopyrite are the two most important minerals containing molybdenum and copper, respectively. The mineralised veins can be mapped on surface, particularly along the coast, where the rocks are well exposed in outcrop.

A series of north-northwest (NNW) to south-southeast (SSE) faults have also been mapped. These faults appear to ‘cut’ the deposit and the mineralised faults, indicating that they have occurred after the minerals were deposited. One of the later faults, the Narrow Waters Fault, appears to offset the deposit dextrally, and there are indications that other faults have offset the deposit locally elsewhere (See Figures 4, 4a). The offsets are in the order of no more than tens of metres.

4.0 GEOPHYSICS

A ground level gradient array induced polarisation (IP) survey was conducted, to measure resistivity and conductivity (see Figure 3). Resistivity is generally useful for identifying changes in rock types, or for detecting faulting. Chargeability can, if successful, directly detect metallic mineralisation, as it is better at carrying an electrical charge than barren, or unmineralised, rock. The resistivity appears to have successfully mapped out the underlying variations in geology and structure. The mineralised body, which has since been outlined by drilling, was identified by a chargeability anomaly, and a further anomaly is seen to the southeast. The anomaly to the southeast of the main mineralisation has not yet been drilled, so it represents a significant target.




5.0 ENVIRONMENTAL ASSESSMENTS

5.1 Ecological Impact Assessment

SLR’s impact assessment identified three potential ecological receptors, one of which is a Special Area of Conservation (SAC). The receptors are:

Kilkieran Bay and Islands SAC

Lough Bunnacliff

Bird assemblage

The first two would potentially be impacted by runoff from drilling operations, but simple mitigation measures for capturing and treating runoff water in 2015 led to insignificant residual impacts. The bird assemblage can be protected by ensuring that nesting areas are protected and that any disturbances are minimised. Residual impacts following the mitigation measures are deemed to be insignificant.

5.2 Screening for Appropriate Assessment

A screening for appropriate assessment in accordance with the EU Habitats Directive (92/43/EEC) was also carried out. The assessment found that the proposed project will have no significant effects on the integrity of any Natura 2000 site, or on any of the qualifying habitats and/or species for which a site has been designated / classified as being of European importance, either as a stand-alone development or in-combination with other plans or projects.

Based on the findings from this assessment, it was considered there was not a requirement to proceed to a Stage 2 Appropriate Assessment for the proposed exploration drilling operations in 2015 at Mace Head under Article 6 of the Habitats Directive.

Following these geological and environmental assessments, MOAG was granted permission to drill by the Exploration and Mining Division (EMD), as the Competent Authority in Ireland for exploration activities, in June 2015.

6.0 DRILLING

Diamond drilling (HQ and NQ core diameter) was planned along cross section lines at right angles to the orientation of the deposit, i.e. east-southeast to west-northwest. The cross section (XS) lines are 100m apart and numbered sequentially, beginning with XS01 in the southwest. Drilling of 5002m was carried out in 2015 by MOAG, covering an area of 1.2km by 300m (see Figure 4). All holes were drilled at -50º to azimuth of 320º, and to a maximum downhole depth of 301m.

Drilling intersected significant visible chalcopyrite, pyrite and molybdenite at Mace, hosted in quartz veins ranging in width from millimetre scale to tens of centimetres (see Figure 5, Figure 6 & Figure 7) within the host granite. Mineralisation also occurs in broken and pulverised rock, related to faulting. The granite is crosscut by steeply-dipping porphyritic rocks, known as dykes. The dykes are believed to occur along faults and most of them are at least weakly mineralised.

Drilling at the Mace Deposit has defined a mineralised Mo-Cu body measuring at least 1400m by 300m and extending to almost 200m below sea level. Most drillholes have intersected significant (>100m) intervals averaging 0.04% Mo or better, with intervals of significantly higher grades (>0.07% Mo) common throughout.

The mineralization remains open in all directions, and at depth. The average grades returned to date, over the entire 1400m by 300m area, are 0.04% Mo & 0.04% Cu, with internal zones of




significantly higher grades (see Table 1 on for selected intervals from both the 2014 and 2015 drill programs).

These results suggest the Mace Prospect has the potential to host an economically viable deposit, subject to environmental, planning and regulatory approvals. The results of the 2016 program will be used to inform future work programs.

Due to the extensive and pervasive nature of the mineralisation at Mace, the entire length of each drillhole was sampled and analysed. Analyses took place at ALS Global’s certified European geochemical laboratory, based in Loughrea, Co. Galway.

A comprehensive quality assurance (QA/QC) protocol was instituted during the 2015 drill programme. Results are graphed and analysed before a batch of results is added to the database. Due to the success of the project, extremely large volumes of data have been generated, so data quality was audited during the year, and new procedures were developed to ensure that the database contains clean data.

A study of the nature of the alteration affecting the rocks that host the deposit showed that the alteration observed at Mace is one of three types:

Potassic Alteration

Phyllic Alteration

Propylitic Alteration

Both the phyllic and potassic alteration phases are associated with molybdenum mineralisation, with slightly higher grades occurring in the potassic zones. Both forms of alteration are typical of porphyry-style mineralisation and their occurrence suggests that there may be potential for further mineralisation with higher temperature alteration at depth.

A measurement technique known as magnetic susceptibility has been used successfully in drill core to identify alteration patterns, which typically occur in granite-related mineral systems.

7.0 2D AND 3D MODELLING

Drill data were composited at minimum grades of 0.04% Mo, 0.05% Mo and 0.07% Mo, respectively. The composited intervals were plotted along drillhole traces, in both plan view and section view. The plan view shows very good grade continuity at 0.04% Mo and 0.05% Mo, while the deposit becomes less coherent at 0.07% Mo (see Figure 4).

The highest grades are seen in the centre of the area drilled, between XS12 and XS16, all but one of drillholes drilled in this area have average grades of >0.05% Mo over more than half of the length of the drillhole. There are also significant intervals >0.07% Mo in most of those drillholes. ‘Cut-off grades’ of 0.05% and 0.04% Mo have been used to draw high and medium grade shells, respectively, shown in Figure 4.

The composited data also show that the deposit can be tentatively split into three zones, each bounded by interpreted faults which offset the mineralisation from adjacent zones (Figure 4a).

Analytical data have been gridded and interpolated to create a voxel (3D grid) and that is colour coded to show relatively higher or lower values. Figure 8 clearly shows high values for Mo%+Cu% in the centre of the deposit, with high grades continuing at depth.

SLR geologists have noted that in general terms, the ratio of Mo to Cu is elevated close to mineralised veins, indicating that higher relative Mo values occur close to the fluid pathways of mineralisation. The Mo:Cu ratio was calculated for every sample and a voxel created from the data (see Figure 9). The figure shows that the ratio of Mo to Cu is elevated in the SSE, relative to




the entire deposit. That may indicate that this area is particularly close to the source of the mineralisation. A smaller, but similarly elevated, zone is seen in the northeast of the deposit. That feature is at the very edge of the area drilled, so it is possible that it continues to the east. SLR believes that these zones of elevated Mo:Cu ratios may be related to the type of structural conduit created when faults intersect, as described by Hutton in Annexe 1.

Porphyry-style deposits are typically mined in bulk open pits, meaning that volume is an important factor in the economics of a potential mining operation. Most drillholes drilled to date have intersected average grades equal to or better than 0.04% over intervals from 100m to 250m. These intervals are significant, and it should be noted that the deposit remains open at depth, suggesting that there is potential for intervals of potentially higher grade mineralisation at depth, subject to further deep drilling.

8.0 CONCLUSIONS

The Mace deposit is a porphyry-style deposit, hosted in veins within Caledonian-aged granites and felsite porphyritic intrusions. Alteration typical of a porphyry deposit is prevalent and primarily forms a halo around mineralised veins. It is interpreted that these veins originate from a deeper zone of more pervasive alteration with potential for higher grade mineralisation, below the levels drilled to date. Hyperspectral imaging and magnetic susceptibility have been useful tools in mapping alteration patterns linked to mineralisation.

Structural controls on the deposit are evident, with ENE-trending faults and related veining clearly acting as a conduit for mineralisation. Later, post-mineralisation, WNW-trending faults have dextrally offset parts of the deposit from adjacent zones, which is consistent with observed trends at outcrop. Structural mapping has also indicated that there may be some as-yet untested targets in the area.

Mineralisation has been well-defined to date, with consistent zones defined at cut-off grades of 0.04% Mo and 0.05% Mo. Most drillholes intersected continuous thicknesses of mineralisation averaging above those cut-off grades. Within those zones, significant intervals of >3.0m averaging above 0.07% Mo are common (see Table 1 above).

3D modelling has identified a zone, in the south of the Mace deposit, interpreted to be on or near an important conduit for mineralising fluids during the formation of the deposit. The zone is persistent at depth and represents an important future drill target.

The deposit is open in all directions, and it is likely that further drilling will extend it to the NNE, SE and possibly to the east. In addition to those obvious extensions to existing drilling, there are other, untested targets in the licence area which may warrant drill-testing.

While it is too early to make economic predictions, the SLR team concurs that a Mo-Cu porphyry deposit, of significant size and grade, has been discovered at Mace.

9.0 RECOMMENDATIONS

Further drill-testing is certainly warranted on the Mace Deposit. Advice from a resource geologist experienced in estimating resources in porphyry deposits will direct drilling so that a CRIRSCO-compliant (NI 43-101) resource can be delivered at the earliest opportunity.

In addition to the drilling required to develop a compliant resource, exploration drilling should continue at Mace, with two aims:

1. To extend the known deposit, at depth and at the lateral extents.




2. To explore other untested targets in the vicinity of the deposit. One deeper (c. 600m) drillhole is recommended, in the vicinity of 15-934-20, where

there are indications that significant mineralisation may exist at depth. Such a drillhole would also give much greater context to the exploration of the deposit, in terms of understanding its overall morphology.

Alteration has been shown to be strongly associated with mineralisation and it is thought likely that an alteration halo exists around the mineralised body. Lithogeochemical sampling is recommended across the deposit to characterise the alteration halo and inform future exploration.

Exploration in the greater deposit area would be aided considerably by a ground magnetics survey, to further delineate high potential zones..

A soil geochemistry survey is recommended in the southern licence area, with the intention of defining targets in zones that have already been identified as prospective, as well as generating new targets.

Follow-up environmental and social studies are also recommended:

It is advisable to conduct detailed baseline environmental studies in line with best practice, to satisfy requirements of the Competent Authority, the Exploration and Mining Division (EMD) and local planning authority (Galway County Council), as well as the local community.

Proactive community engagement should continue and broaden out to include residents of the village of Carna, with sufficient time being allocated to communicate effectively and meaningfully with local stakeholders.

10.0 QUALIFIED PERSONS

The scientific and technical information contained in this report was supervised and approved by the Qualified Persons, Dr Deirdre Lewis, PhD PGeo EurGeol, a Technical Director at SLR Consulting Ireland, and Mr. Paul Gordon, MSc PGeo EurGeol, Principal Geologist at SLR Consulting Ireland, to accurately reflect the findings of the 2015 drilling campaign on PLA 934, held by MOAG at Mace in Co. Galway, Ireland, on behalf of MOAG.




Table 1. Maximum contiguous intervals at 0.04% Mo or better for 2014-2015 drillholes

Hole ID From To Interval Mo % Cu % Ag ppm Mo m%

14-934-01 0.5 206.6 206.1 0.04 0.05 0.32 8.25

including 19.0 26.6 7.6 0.13 0.18 1.81 0.96

and 45.0 52.4 7.4 0.15 0.10 0.94 1.12

14-934-02 6.5 117.5 111.0 0.07 0.05 0.19 7.49

including 35.0 45.0 10.0 0.08 0.05 0.06 0.80

and 76.0 92.0 16.0 0.10 0.14 0.81 1.60

And 113.5 122.0 8.5 0.14 0.05 0.44 1.19

And 152.2 160.1 7.9 0.02 0.05 0.69 0.16

And 172.5 189.0 15.5 0.08 0.05 0.55 1.24

14-934-03 7.2 78.4 71.2 0.04 0.06 0.21 2.88

including 16.0 21.5 5.5 0.10 0.06 0.36 0.55

and 72.6 78.4 5.3 0.03 0.04 0.17 0.16

And 111.0 120.6 9.6 0.03 0.04 0.41 0.32

And 123.0 131.4 8.4 0.05 0.05 0.57 0.41

14-934-04 69.2 125.5 56.3 0.04 0.05 0.20 2.35

including 103.6 126.5 22.9 0.05 0.05 0.10 1.21

And 174.6 181.3 6.7 0.06 0.03 0.49 0.40

14-934-05 3.5 152.0 148.5 0.04 0.05 0.34 6.61

including 23.2 33.9 10.7 0.10 0.13 0.95 1.07

And 36.2 49.0 12.8 0.09 0.07 0.80 1.15

14-934-06 6.5 150.7 144.2 0.04 0.04 0.18 6.32

including 25.0 30.4 5.4 0.13 0.06 0.36 0.70

And 53.2 62.8 9.6 0.13 0.06 0.29 1.25

And 66.4 71.4 5.0 0.07 0.03 0.16 0.35

15-934-07 3.0 251.0 248.0 0.04 0.05 0.25 10.59

including 141.0 149.8 8.8 0.06 0.09 0.78 0.53

And 177.6 184.8 7.2 0.11 0.11 0.17 0.79

15-934-08 1.5 160.0 158.5 0.06 0.04 0.11 9.51

15-934-09 5.4 197.6 192.2 0.04 0.04 0.37 8.03

including 109.5 115.3 5.8 0.06 0.05 0.12 0.37

and 121.2 127.5 6.3 0.06 0.08 0.24 0.38

and 151.8 158.7 6.9 0.04 0.06 0.83 0.30

15-934-10 1.5 154.3 152.8 0.06 0.04 0.25 9.17

including 59.0 66.8 7.8 0.11 0.03 <0.5 0.86

15-934-11 2.3 202.0 199.7 0.04 0.05 0.25 8.51

including 21.0 31.1 10.1 0.27 0.21 1.27 2.74

and 71.0 81.0 10.0 0.07 0.08 0.45 0.68

15-934-12 4.0 130.5 126.5 0.04 0.09 0.32 5.08

including 102.1 107.0 5.0 0.11 0.28 <0.5 0.54

And 134.0 143.0 9.0 0.19 0.31 <0.5 1.71

15-934-13 162.2 193.0 30.9 0.05 0.02 0.20 1.40

including 88.0 96.0 8.1 0.05 0.04 0.60 0.41

And 184.5 192.0 7.5 0.10 0.08 0.22 0.75

And 211.2 217.0 5.8 0.05 0.08 0.29 0.29

And 232.0 237.0 5.0 0.05 0.07 0.54 0.25

15-934-14 8.0 185.0 177.0 0.05 0.04 0.06 8.13

including 35.5 41.0 5.5 0.19 0.09 <0.5 1.05

And 45.0 60.1 15.1 0.08 0.05 0.04 1.21

And 45.0 50.0 5.0 0.06 0.04 <0.5 0.30

And 108.0 121.3 13.3 0.05 0.03 <0.5 0.67

And 162.1 169.0 6.9 0.08 0.06 0.43 0.55

15-934-15 5.7 58.0 52.3 0.04 0.03 0.14 2.19

including 26.9 35.7 8.8 0.13 0.05 0.41 1.10

and 29.5 34.5 5.0 0.17 0.05 0.48 0.84





15-934-16 0.5 301.0 300.5 0.04 0.04 0.23 12.13

including 29.7 38.0 8.3 0.11 0.04 0.31 0.91

And 66.0 73.0 7.0 0.05 0.03 0.53 0.35

And 124.6 137.0 12.4 0.05 0.04 0.11 0.62

And 166.2 173.0 6.8 0.19 0.06 0.26 1.29

And 183.0 193.0 10.0 0.17 0.03 1.71

And 227.0 233.0 6.0 0.23 0.11 0.54 1.38

And 249.8 257.2 7.4 0.10 0.10 0.23 0.74

And 283.0 290.0 7.0 0.05 0.04 0.06 0.35

15-934-17 14.5 149.5 135.0 0.05 0.03 0.10 6.75

including 21.1 32.5 11.4 0.17 0.04 0.69 1.94

and 41.3 52.9 11.6 0.05 0.02 <0.5 0.58

and 68.0 87.9 19.9 0.07 0.03 0.09 1.39

15-934-18 1.5 269.0 267.5 0.04 0.03 0.09 11.15

including 60.4 66.0 5.7 0.06 0.07 0.44 0.34

And 102.0 141.0 39.0 0.03 0.06 0.09 1.17

And 107.0 112.0 5.0 0.04 0.09 0.12 0.20

And 122.0 133.0 11.0 0.05 0.09 0.27 0.55

including 122.0 127.0 5.0 0.05 0.12 0.24 0.25

And 146.0 170.0 24.0 0.03 0.05 0.22 0.72

And 179.0 204.0 25.0 0.03 0.05 0.06 0.75

including 179.0 184.0 5.0 0.03 0.10 <0.5 0.15

And 207.0 220.0 13.0 0.05 0.11 0.10 0.65

And 255.0 266.0 11.0 0.02 0.06 0.14 0.22

15-934-19 60.4 224.2 163.8 0.04 0.05 0.25 6.88

including 155.0 168.0 13.0 0.09 0.04 0.41 1.17

and 175.0 183.0 8.0 0.06 0.04 0.30 0.48

and 186.0 191.1 5.1 0.36 0.32 0.77 1.84

and 213.0 224.2 11.2 0.08 0.09 0.70 0.90

15-934-20 0.0 209.0 209.0 0.07 0.03 0.16 14.22

including 5.0 16.0 11.0 0.11 0.05 0.58 1.16

and 20.2 38.0 17.8 0.07 0.03 0.25 1.21

and 42.0 71.0 29.0 0.09 0.05 0.31 2.61

and 50.0 57.0 7.0 0.18 0.07 0.59 1.25

and 103.0 130.0 27.0 0.08 0.03 0.09 2.13

and 123.0 129.0 6.0 0.17 0.03 0.08 1.01

And 141.8 167.0 25.2 0.11 0.03 0.06 2.85

And 175.0 200.0 25.0 0.06 0.03 0.03 1.60

And 203.0 208.0 5.0 0.13 0.02 <0.5 0.67

15-934-21 0.0 205.0 205.0 0.05 0.04 0.10 9.49

including 63.0 73.1 10.1 0.05 0.03 <0.5 0.51

and 99.0 119.0 20.0 0.16 0.04 0.22 3.20

and 107.0 119.0 12.0 0.26 0.04 0.33 3.12

and 124.4 129.8 5.4 0.85 0.29 0.59 4.59

and 122.0 144.0 22.0 0.24 0.10 0.17 5.28

and 149.0 156.9 7.9 0.06 0.07 <0.5 0.47

15-934-22 139.8 141.0 1.2 0.05 0.02 <0.5 0.06

15-934-23 40.6 63.7 23.1 0.05 0.02 0.24 1.16

And 89.6 97.8 8.2 0.05 0.03 0.56 0.41

And 124.0 133.5 9.5 0.08 0.05 0.29 0.76

And 158.7 164.0 5.3 0.05 0.02 <0.5 0.26

15-934-24 50.0 190.7 140.7 0.04 0.05 0.25 5.49

including 50.0 59.0 9.0 0.05 0.05 0.17 0.45

and 97.4 103.0 5.6 0.17 0.06 0.85 0.95

and 110.0 117.0 7.0 0.12 0.05 0.54 0.84

and 121.0 136.0 15.0 0.08 0.06 0.18 1.20

and 174.0 190.7 16.7 0.05 0.04 0.00 0.84





15-934-25 54.3 70.8 16.5 0.05 0.06 0.49 0.78

And 199.1 209.9 10.8 0.05 0.03 0.68 0.54

15-934-26 4.2 170.0 165.8 0.04 0.04 0.46 6.63

including 8.7 18.0 9.3 0.07 0.09 0.11 0.65

including 12.0 18.0 6.0 0.08 0.10 0.17 0.48

and 29.0 41.0 12.0 0.07 0.05 0.33 0.84

and 45.5 58.0 12.6 0.08 0.06 0.99 1.00

and 45.5 52.0 6.6 0.13 0.08 1.12 0.85

and 85.0 95.0 10.0 0.06 0.04 0.78 0.60

and 89.0 95.0 6.0 0.08 0.03 0.80 0.48

and 108.0 120.0 12.0 0.06 0.04 0.24 0.72

and 133.0 139.0 6.0 0.09 0.06 0.41 0.54

and 147.7 155.0 7.3 0.05 0.06 0.64 0.37

15-934-27 4.0 196.0 192.0 0.04 0.03 0.19 7.75

including 4.0 12.0 8.0 0.34 0.02 0.14 2.72

and 26.5 41.5 15.0 0.05 0.01 0.16 0.75

and 51.0 57.4 6.4 0.05 0.02 <0.5 0.32

and 165.0 188.0 23.0 0.05 0.05 0.12 1.15

And 191.0 199.0 8.0 0.10 0.04 0.26 0.80

15-934-28 3.0 30.7 27.7 0.06 0.04 0.11 1.68

including 3.0 15.4 12.4 0.07 0.05 0.20 0.87

and 17.9 30.7 12.8 0.07 0.03 0.05 0.90

15-934-29 0.8 171.0 170.2 0.06 0.04 0.40 9.53

including 0.8 14.0 13.2 0.04 0.03 0.94 0.53

and 29.0 46.0 17.0 0.07 0.04 0.35 1.19

and 54.7 70.0 15.3 0.13 0.04 0.30 1.99

and 59.0 64.0 5.0 0.18 0.04 0.22 0.90

and 79.0 86.0 7.0 0.06 0.04 0.29 0.42

and 127.0 141.0 14.0 0.10 0.05 0.70 1.40

15-934-30 2.4 89.6 87.2 0.05 0.08 0.66 4.55

including 1.2 15.0 13.8 0.08 0.07 0.69 1.10

and 6.0 11.4 5.4 0.17 0.08 0.72 0.92

and 19.8 48.4 28.6 0.07 0.04 0.37 2.00

and 19.8 33.2 13.4 0.09 0.06 0.53 1.21

And 148.7 154.0 5.3 0.10 0.06 0.48 0.53

15-934-31 0.9 125.0 124.1 0.05 0.06 0.72 5.88

including 19.0 40.5 21.5 0.12 0.11 1.31 2.58

and 31.1 39.0 7.9 0.24 0.18 2.86 1.90

and 82.3 90.4 8.1 0.05 0.05 0.63 0.41

and 113.3 118.8 5.5 0.13 0.09 1.40 0.72

and 113.5 122.0 8.5 0.14 0.05 0.44 1.19

All cored diamond holes drilled by MOAG Copper Gold Resources (2014 – 2015)




Figure 1. Orthophotographic Mapping from UAV Survey

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Figure 2. DEM overlain with interpreted structural geology




Figure 3. Gradient Array IP: Chargeability Mapping




Figure 4. Plan view of drilling with composited assays shown downhole. Grades are averaged over a minimum downhole interval of 3.0m

Note that drillhole numbers are abbreviated for clarity; only MOAG drillholes 01-31 have been labelled on cross sections XS06 - XS19 (from 2014-2015 drill campaigns)

Narrow Waters Fault




Figure 4a. Structural interpretation overlaid on drillhole traces with composited intervals

Note that drillhole numbers are abbreviated for clarity; only MOAG drillholes have been labelled.

Narrow Waters Fault Zone

Bunnacliffa Lough




Figure 5. Quartz vein with molybdenite, chalcopyrite and pyrite

Figure 6. Example of partially Mo coated fracture plane, with slickensides and <1cm wide quartz vein with Mo at vein contacts

Figure 7. Partially vuggy chalcopyrite and pyrite fill in quartz vein with molybdenite infill. Molybdenite (dark grey) also concentrated at vein margins.




Figure 8. 3D view of Mace Deposit, looking northwest

The voxel represents Mo%+Cu%, with high values in red and low values in dark blue. The dark lines extending downwards represent drillhole traces.

NNE SSW Topographic surface




Figure 9. 3D view of Mace Deposit, looking NNE. Voxel represents Mo:Cu ratio

Red indicates high values. The dark lines extending obliquely downwards represent drillhole traces.


executive summary report of exploration programme at pl 934 … rapport/mace/ moag_pl934_mace... ·...

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