The Mt Todd Project is located 42 km northwest of Katherine in the
Northern Territory. The identified mineral resource estimate for the
Batman gold deposit is 66.7 million tonnes (Mt) grading 1.4 grams/tonne
(g/t). Proved and Probable Ore Reserves total 42.3 Mt grading 1.5 g/t. Orebody definition and reserve estimation is based on extensive
percussion and diamond drilling. Exhaustive bias analysis comparing
grades produced from different drilling techniques has been undertaken.
Similarly, detailed check assaying programs have been run to validate
grade data produced by commercial laboratories used during the
exploratory drilling phase. Significant biases were established from both
studies and appropriate 'corrections' were made to drillhole databases
prior to final resource and reserve estimation. 3D geostatistical modelling has been utilised for resource and reserve
estimation, with specialist consultants contracted for this work. At all
times, interpreted geological controls on mineralisation, provided by