The Ulysses deposit lies within the Archaean-aged Norseman to Wiluna greenstone belt. Host rocks comprise a sequence of dolerite and basalt units. Gold mineralisation is associated with a strongly altered, distinctive assemblage of biotite-sericite-albite-pyrite ± carbonate alteration and quartz veining located within a regionally extensive WNW trending shear zone termed the Ulysses Shear. Depth of complete oxidation is approximately 30m to 40m with depth to fresh rock approximately 45 to 60m.

Within the shear zone, discrete zones of mineralisation are typically 2-12m in thickness and dip at 30- 40o to the north. A number of horizons of magnetic dolerite sills occur within the mafic stratigraphy at Ulysses, and where the main shear cuts through these units local thickening and increased grade are evident and form plunging shoots with good continuity of grade and thickness over considerable plunge lengths. The zones are visually distinct and typically display sharp boundaries to the mineralisation.

Drilling at Ulysses extends to a maximum depth of 460m below surface. The mineralisation has been interpreted and estimated to that depth and the mineralisation remains open over much of the 2.0km strike length of the deposit.

Ulysses is an orogenic, lode-style deposit hosted within mafic rocks of the NorsemanWiluna greenstone belt.

The Ulysses Underground describes the potential underground mine associated with the Ulysses Mineral Resource, located directly beneath the Ulysses and Ulysses West open pits. The designed mine plan considers two declines from separate portals – one located in each open pit. Two declines are required given the strike length of the ore body.

Estimated Life-of-Mine production based on the Mineral Resources from the Ulysses Underground is approximately 3.02Mt @ 4.13g/t gold for 0.4Moz.

The mine has been designed using a typical long hole open stope technique in a top down sequence for the Ulysses ore body.

Mine design parameters:
Decline gradient - 1 in 7
Decline profile - 5.2m (W) x 5.5m (H)
Stope Strike Length - 45m - 85m (HR 6.5)
Stoping minimum mining width - 1.5m
Level spacing – floor to floor - 10m
Ore drive development profile - 4.0m(W) m x 5.0/3.0m (H) Shanty Back
HW Length - 13m - 18m
Stope dilution - unplanned + planned - 10% + 20% (Varying from 5% - 33%)
Average stope width - 4m (Varying from 1.5 – 12m)
Mining recovery - 95%
Rib pillars - 1:1 Ratio
Haulage - 45t trucks.

The two proposed declines are to be positioned in the hanging wall to the potential underground mine and it is anticipated that the decline will advance at a rate of +100m vertical metres per annum. The position of the declines in the hanging wall to the Resource will allow diamond drilling for grade control and resource extension purposes to be completed ahead of the mining front.

The detailed mine design has been used to schedule a potential production profile for Ulysses. Steady state annual production rate is 800,000 – 900,000 tonnes with a third of ore production via development. With dual declines there are always on average five active stoping areas with an average production rate of 400t per day. This will facilitate a monthly stoping rate of 50-60kt and +600kt per annum. The finding of this study determined that 10m development levels with 4.0m(W) m x 5.0/3.0m (H) shanty back profiles achieve both the most profitable, and practical outcome.

Planned dilution has been incorporated into individual stope designs to allow for the footwall to be maintained at an overall angle of 35°. It is assumed angled drilling of production rings (azi dumped) so they will be drilled at an angle such that the firing direction, which is 90° to the drilling, will throw the material down into the extraction drive and minimise material on the footwall. It is planned that each stope is always empty before firing the next blast and then only fire small firings to stop material banking up on the footwall of the stope.

Two processing options were evaluated, for the purpose of establishing a preferred processing route for future project development. Of the two options considered Option 1 which is an industry standard carbon-in-leach (CIL) circuit with doré bar production is currently considered the preferred base case option.

Option 1 is the industry standard process for gold recovery, with gold extracted by cyanide leaching of the milling circuit cyclone overflow.

Activated carbon addition to the leach pulp recovers gold from solution. In this option, ore will be leached in agitated tanks for approximately 36 hours. Activated carbon is added to the last leach tank, moving counter current to the slurry to absorb the leached gold. The loaded carbon is then removed from the first tank and acid washed, before the gold is stripped from the carbon into solution using the AARL method.

The stripped carbon is re-activated in a kiln and returned to the last tank in the CIL circ ........