|Interest||A$1/t ore production royalty|
|Location||Western Australia, Australia|
|Counterparty||Genesis Minerals Ltd (ASX:GMD)|
|Additional Notes:||The royalty is applicable to all production in excess of 650Kt|
- Royalty encompasses three active tenements M40/117, M40/163 and M40/164.
- M40/164 contains the Puzzle Mine with historical production of 498,700t @ 2 g/t Au for 32,070 oz Au (during 1996‐1997) and a current resource estimate of 1.73Mt @ 1.1g/t for 59,000oz Au (June-2020)
- M40/117 contains two historical open pits and the Orion/Sapphire deposits, which have a current resource estimate of 0.69Mt @ 2.2g/t for 48,000oz Au (June-2020)
- Genesis Minerals on March 29,2022 reported an increase in the Puzzle resource from 59Koz to 79Koz (2.58Mt @ 0.9g/t Au) and reported a maiden Indicated and Inferred resource at Puzzle North of 6.13Mt @ 1.2g/t for 232,000 ounces Au.
- Metallurgical test work was carried out as part of the Feasibility Study at Puzzle North and Puzzle confirming that the ore is amenable to conventional cyanide leaching (with gold recoveries from primary ore to be ~90% to 95%).
- Further information can be found at this website: https://genesisminerals.com.au/downloads/announcements/gmd2020062406.pdf?v=0.855