The ore bodies at New Luika comprise high grade (>6g/t Au), medium grade (3 – 6 g/t Au) and low grade (1 – 3 g/t Au) to average 3.9g/t Au. The regional geology is characterised by deformed, folded, sheared and metamorphosed paleoproterozoic rocks with major fold axes trending east southeast to west northwest. The following main lithological units occur in the region: Ilunga Granite Formation The Ilunga Granite is located in the northern portion of the Lupa Goldfield and is mostly comprised of a medium to coarse grained leucogranite (aplogranite). Biotite and muscovite are commonly associated secondary minerals. Saza Granite Formation The Saza Granite is located in the central portion of the Lupa Goldfield and consists of numerous rock types including hornblende rich granites and hornblende-biotite rich granodiorites. Gneiss Formation The Gneiss Formation, the main ore bearing host, is the dominant rock unit within the Lupa Goldfield. The Gneiss Formation has been subjected to at least three granitic intrusive events that have given rise to a variety of rock types such as felsitic gneiss, biotite and hornblende granite gneiss, leucocratic granular gneiss. Diorite, granodiorite and granite rocks are evident within the Gneiss Formation. Mineralised quartz veined targets are hosted within brittle-ductile to ductile deformational features of variable orientation. Underlain by a complex association of high grade metamorphic- and intrusive lithologies, commonly intruded by dy ........

New Luika is an Open Pit and Underground mining operation. Open Pit Operations - Four open pits are planned to be mined as per the current Life of Mine Plan, namely: Shamba (will be concluded in Q1 2022), Elizabeth Hill, Blacktree Hill and Bauhinia Creek North. A contractor-based mining open pit mining operation whereby the contractor’s supply and are supervised and or monitored by New Luika management from the mine plan to the implementation. Porcupine South Open Pit will be added to the reserve-based Life of Mine plan on the award of the Mining Licence which is expected during 2022. Underground Operations – New Luika transitioned to a predominantly underground operation and entered commercial production in June 2017. All underground operations at our Bauhinia Creek, Luika and Ilunga deposits are performed by New Luika employees. The New Luika transitioned to a predominantly underground operation and entered commercial production in June 2017. Since 2017, New Luika’s underground mining activities have delivered a consistent plant feed. New Luika delivered its highest ever mill feed from underground operations in 2019, with open pits providing supplementary ore feed for three months of the year, in line with the planned mining schedule. One of the major successes of 2019 was reaching commercial production from the Ilunga Underground Mine on schedule and on budget. Commercial production was declared following net pre-production capital investment of only US$5.0 million an ........

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