The Bannockburn deposit is located along the western margin within the central portion of the Norseman-Wiluna greenstone belt. Locally the project area is dominated by an extensive sequence of tholeiitic, high-Mg and komatiitic basalts with intercalated sedimentary and intermediate volcaniclastic horizons. Dolerite and gabbro sills intrude the sequence. The deposit is complex with multiple controlling factors. The gross geometry of the deposit is controlled by the Bannockburn fault, a steeply dipping NNW trending fault that is continuous over at least 2.3km on the western margin of the orebody. The fault separates an ultramafic unit in the west from the Bannockburn host sequence in the east. It dips steeply east, rolling to vertical and steep west dipping in the northern part of the orebody. The Bannockburn fault is effectively the western boundary to the orebody with very little mineralisation penetrating the western side of the fault. The Central fault which hosts the Central orebody has a shallow northerly plunge and is the orebody on which the majority of the underground workings have focused on. There are a series of steeply east dipping lodes in the hangingwall of the central lode; these are interpreted as either tensional veins of reverse faults with shearing present along the veins. Black graphic shale units present within the stratigraphy have acted as a localised control on the mineralisation. The black shale units have taken up some of the deformation with stratigraphy parallel shearing and mafic sequences between the shales have extended to form steep east dipping extension veins.

Bannockburn mineralisation extends from 6849500mN to 6852000mN, 292600mE to 294100mE and 150 meters below surface. The Bannockburn gold deposit has a strike of 340° (NNW) and has a shallow plunge 5-10° to the NNW.

The Bannockburn deposit is amenable to mining by both open pit and underground methods. The deposit has been mined by open pit and underground methods historically. There are reasonable grounds to assume that in the future this deposit will again be mined by conventional open pit load and haul operations. It is unlikely that the mineralisation would be accessed by underground methods. Any open pit operations that may interact with historical underground workings would need to assume a higher ore loss factor around the margins of effected areas. This is particularly the case if underground voids have not been filled.

Mining method to be employed will be conventional hydraulic excavator and dump truck fleet, with 360t and 120t class excavators assumed. The class of excavator employed matches with those currently utilized at Thunderbox and as well as those operated at SGM’s Carosue Dam Operations, providing good comparative cost data for financial modelling, as well as a reliable database of production and productivity rates. Bannockburn pit that forms the basis of the reserve estimate will be mined as a single cutback, extending the previously mined open pit and underground workings.

The selected mining method for the pit is conventional for this style of mineralisation and no specialised infrastructure is required to accommodate this method of mining.

It is expected that any future mining of the Bannockburn deposit will be processed at the Thunderbox processing facility.

The mill operated successfully between 2002 and 2007, processing in excess of 9Mt of ore. The conventional plant displayed excellent performance with gold recoveries between 93.4 to 96.6 % over the life of the mine. Test work by Ammtec completed historically suggests Bannockburn mineralisation should achieve similar recoveries to the mineralisation previously processed at Thunderbox.

The Thunderbox Process Plant is a CIL cyanide leach plant incorporating a gravity circuit which is appropriate for the extraction of gold from free milling gold ores.