blue sky mine

Pg 3

scoping study


In the absence of the mine scheduling studies necessary to convert Resources to Reserves, it is
prudent to classify some of the required production target of 54Mt@500ppm TREO as Exploration
Target, since no studies have yet been completed to establish in what sequence the Resource can be
extracted. The production target is therefore based as to approximately 85% on Indicated Resource,
and up to 15% upon Exploration Target.

also

“The potential quantity and grade of
an Exploration Target is conceptual in nature, there has been insufficient exploration to determine a
Mineral Resource and there is no certainty that further exploration work will result in determination
of Mineral Resources or that the production target itself will be realised”.


Tonio