Wrap Text
AngloGold Ashanti Lifts Tropicana Ore Reserve and Production Outlook
AngloGold Ashanti Limited
(Incorporated in the Republic of South Africa)
Reg. No. 1944/017354/06
ISIN: ZAE000043485 – JSE share code: ANG
CUSIP: 035128206 – NYSE share code: AU
(“AngloGold Ashanti” or the “Company”)
15 December 2016
NEWS RELEASE
AngloGold Ashanti Lifts Tropicana Ore Reserve and Production Outlook
(PERTH) – AngloGold Ashanti Ltd is pleased to report an improved production outlook at the
Tropicana Gold Mine in Western Australia, based on higher mining and processing rates
along with a 45% increase in the mine’s Ore Reserve estimate.
Tropicana is a joint venture between AngloGold Ashanti Australia Ltd (70% and manager)
and Independence Group NL (30%).
A strategy to address the planned decline in production following the end of grade streaming
last year has been successful with the throughput capacity of the processing plant lifting
from 5.8 million tonnes per annum (mtpa) to 7.5 mtpa and the introduction of a 600 tonne
shovel to accelerate mining rates.
Gold production is expected to increase to an annualized rate of between 450,000 – 490,000
ounce per annum from the second half of calendar 2017, with further increases anticipated,
depending on the outcome of the Long Island Study.
“We’ve adopted an innovative, holistic approach that demonstrates the quality of this asset
and the enhanced returns it will deliver to stakeholders,” Michael Erickson, AngloGold
Ashanti’s Senior Vice President Australia said. “The Tropicana mineralised system remains
open along strike and at depth and the recent exciting drilling results make us optimistic that
we can further improve the outlook.”
A programme of 161,000 metres of reverse circulation and diamond drilling carried out
during 2015 and 2016 to test the strike extent and down-dip extensions of the known
mineralised system has been highly successful, contributing to a 45% increase in Ore
Reserves and a 27% increase in the Mineral Resource, highlighting the significant upside
potential of the system.
Drilling is continuing as part of the Long Island Study, which is investigating large cutbacks
to the pits utilizing low-cost mining options including strip mining and backfilling to minimise
waste haulage costs.
The Ore Reserve estimate for Tropicana (100% project) has increased by 1.18 million
ounces of contained gold, with all of this increase in the Havana Pit. Further reserve growth
from Boston Shaker is anticipated in 2017, and in the longer term from Havana South, where
infill drilling programmes are still to be completed.
The Mineral Resource estimate for Tropicana (100% project) has increased by 1.73 million
ounces of contained gold, largely through significant additions in the Havana South and
Boston Shaker zones as a result of applying the Long Island mining methods and costs, and
through an increase to the underground Mineral Resource along the entire strike length of
the Tropicana mineralised system.
In contrast to previous Tropicana resource statements, the new resource reflects the
intention to backfill pits. Resources below pits that are proposed for backfilling are reported
on the basis of potential future extraction by underground mining. This approach contributes
to the large increase in the underground resource. As drilling and ongoing mining studies
are completed it is anticipated there will be a high conversion of open pit resources to
reserves over the life of the operation.
The details of the Ore Reserve and Mineral Resource estimate are provided in Table 1 and
Table 2. (Note 1) The location of the Ore Reserves and Mineral Resources are outlined in Figure 1.
Ore Reserve and Mineral Resource growth, after depletion, is captured in Figures 3 and 4.
Importantly, the updated Ore Reserve and Mineral Resource estimates do not include recent
significant intersections from Boston Shaker, which are summarised in Figure 2.
Long Island Study and operational update
The Long Island Study is based on strip mining of the depth extensions of the Tropicana
mineralised system and using the completed Tropicana pit as an initial void into which waste
will be backfilled. The proposed backfilling the Tropicana Pit in conjunction with strip mining
will greatly reduce the cost of mining waste by introducing short, horizontal hauls instead of
the long uphill hauls out of the pit to surface waste dumps that would be required by
conventional mining.
The drilling programme to support the study is nearing completion and work is continuing on
aspects such as bench height, the grade control approach, the mining rate and the optimal
mining fleet configuration. It is anticipated that the study will be completed in Q2 2017 and
the new mine plan will be approved thereafter as part of the normal budget cycle.
If the mining method is implemented, the initial Long Island cutback would commence in
2019 when the Tropicana pit has been mined to full depth. Key milestones are illustrated in
Figure 5.
Note 1
The updated Ore Reserve and Mineral Resource estimates are reported in accordance with
Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, 2012
(JORC Code) and Australian Securities Exchange (ASX) Listing Rules.
As such the reported increases relating to Tropicana require the additional supporting information set
out in this release and its appendices.
The Plant Optimisation Project, which aimed to lift throughput to 7.5 mtpa, has been
completed, with commissioning of two additional CIL tanks in October. The plant is now
operating above 7.5 mtpa and further tuning of the circuit is anticipated to achieve an
annualised throughput rate of up to 7.9 mtpa over the next 12 months.
A Caterpillar 6060 600-tonne class shovel has been introduced to the mining fleet to lift
mining rates, and to meet the higher throughput requirements of the processing plant. With
the introduction of the 6060 shovel, mining rates are expected to increase to 80 mtpa,
enabling the resumption of grade streaming for at least the next two calendar years.
Grade streaming involves the preferential treatment of higher grade ore and stockpiling of
low and medium grade ore. A grade streaming approach was adopted at Tropicana in its first
three years of operation.
The higher mining rate will enable grade streaming to be reintroduced from mid-2017. Gold
production (100% project) is expected to increase to an annual rate of between 450,000 oz –
490,000 oz from mid-2017. Tropicana produced 296,000 oz in the first nine months of 2016.
This compares favorably to an average production rate envisaged in the Tropicana Bankable
Feasibility Study of approximately 320,000 oz per year over this three year period. The
longer term mining rate and gold production profile will be determined as part of the Long
Island Study.
*Figure 1: Long section of Tropicana pits showing Mineral Resource and Ore Reserve
locations
*Please refer to the Company's website to view this figure.
Table 1: Tropicana Ore Reserves (100% Project) as at 31 December 2016
Area Reserves Dec 15 Dec 16 Change
Category Mt g/t Moz Mt g/t Moz Mt g/t Moz
Open Pit Proved 18.8 1.67 1.01 15.7 1.48 0.75 -3.1 -0.19 -0.26
(incl. in Probable 25.3 1.98 1.61 44.4 2.14 3.05 19.1 0.16 1.44
Stockpiles) Total 44.0 1.85 2.62 60.1 1.97 3.80 16.1 0.12 1.18
Underground Proved 0.0 0.00 0.00 0.0 0.00 0.00 0.0 0.00 0.00
Probable 0.0 0.00 0.00 0.0 0.00 0.00 0.0 0.00 0.00
Total 0.0 0.00 0.00 0.0 0.00 0.00 0.00 0.00 0.00
Total Proved 18.8 1.67 1.01 15.7 1.48 0.75 -3.1 -0.19 -0.26
Probable 25.3 1.98 1.61 44.4 2.14 3.05 19.1 0.16 1.44
Total 44.0 1.85 2.62 60.1 1.97 3.80 16.1 0.12 1.18
Notes:
- The Open Pit Ore Reserve is based on the Mineral Resource model.
- The Open Pit Ore Reserves have been reported above a Full Grade cut-off grade of 0.6g/t for
oxide and 0.7g/t for fresh and transitional material.
- The Open Pit Ore Reserves are reported within Pit Designs, reflecting the current mine plan
and the Long Island study:
o Havana South is reported within a design based on the current life of mine plan.
o Havana is reported within a design based on the Long Island Study.
o Tropicana is reported within a design based in the current life of mine.
o Boston Shaker is reported within a design based in the current life of mine.
Table 2: Tropicana Mineral Resources (100% Project) as at 31 December 2016
Area Resources Dec 15 Dec 16 Change
Classification Mt g/t Moz Mt g/t Moz Mt g/t Moz
Open Pit Measured 27.9 1.35 1.21 26.1 1.13 0.94 -1.8 - -
(incl. in 0.22 0.27
Stockpiles) Indicated 73.1 1.69 3.97 81.1 1.61 4.19 8.0 - 0.22
0.08
Inferred 1.9 2.22 0.13 22.3 1.32 0.94 20.4 - 0.81
0.91
Total 102.9 1.61 5.32 129.5 1.46 6.08 26.6 - 0.77
0.15
Underground Measured 0.0 0.00 0.00 0.0 0.00 0.00 0.0 0.00 0.00
Indicated 3.3 3.61 0.38 6.8 3.38 0.73 3.5 - 0.35
0.23
Inferred 5.8 3.13 0.59 11.9 3.15 1.20 6.0 0.02 0.62
Total 9.1 3.31 0.97 18.6 3.23 1.94 9.5 - 0.97
0.07
Total Measured 27.9 1.35 1.21 26.1 1.13 0.94 -1.8 - -
0.22 0.27
Indicated 76.4 1.77 4.35 87.9 1.74 4.93 11.4 - 0.58
0.03
Inferred 7.7 2.91 0.72 34.2 1.95 2.15 26.5 - 1.42
0.96
Total 112.1 1.74 6.28 148.1 1.68 8.02 36.1 - 1.73
0.06
Notes:
- The Open Pit Mineral Resources have been estimated using the geostatistical technique of
Localised Uniform Conditioning (LUC) using average drill-hole intercepts. Isatis software was
used for the estimation.
- The Open Pit Mineral Resources have been reported above a marginal (break-even) cut-off
grade of 0.3g/t for oxide and 0.4g/t for transitional and fresh material.
- The Open Pit Mineral Resources are reported within a combination of Pit Designs and
optimisation shells, reflecting the current mine plan and the potential for additional Ore
Reserves, should the gold price increase.
o Havana South is reported within a A$1817 optimisation shell (US$1400 at an A$/US$
exchange rate of 0.77) at Long Island study costs.
o Havana is reported with a pit design, based on A$1370 optimisation shell at Long
Island study costs.
o Tropicana is reported within the current life of mine design.
o Boston Shaker is reported within a preliminary design based on A$1350 optimisation
shell at Long Island study costs.
- The Underground Mineral Resource was estimated using the geostatistical technique of
Ordinary Kriging using average drill-hole intercepts. Isatis software was used for the
estimation.
- The Underground Mineral Resource is reported externally to the pit designs and A$1817
optimisation, at a cut-off grade of 2.0g/t.
*Figure 2: Significant drill intersections from recent Boston Shaker drilling
*Please refer to the Company's website to view this figure.
Note: Detailed drill hole information is provided in Appendix 2: Table of intercepts.
*Figure 3: Tropicana Mineral Resources change
*Please refer to the Company's website to view this figure.
*Figure 4: Tropicana Ore Reserve change
*Please refer to the Company's website to view this figure.
*Figure 5: Long Island timeline
*Please refer to the Company's website to view this figure.
Contacts
Media & Investors
Andrea Maxey +61 8 9425 4603/+61 400 072 199 amaxey@anglogoldashanti.com
General inquiries media@anglogoldashanti.com
Investors
Stewart Bailey +27 81 032 2563 / +27 11 637 6031 sbailey@anglogoldashanti.com
Sabrina Brockman +1 212 858 7702 / +1 646 379 2555 sbrockman@anglogoldashanti.com
Fundisa Mgidi +27 11 6376763 / +27 82 821 5322 fmgidi@anglogoldashanti.com
ENDS
JSE Sponsor: Deutsche Securities (SA) Proprietary Limited
Contacts
Media
Andrea Maxey +61 8 9425 4603/+61 400 072 199 amaxey@anglogoldashanti.com
Chris Nthite +27 11 637 6388/+27 83 301 2481 cnthite@anglogoldashanti.com
Stewart Bailey +27 81 032 2563 / +27 11 637 6031 sbailey@anglogoldashanti.com
General inquiries media@anglogoldashanti.com
Investors
Andrea Maxey +61 8 9425 4603/+61 400 072 199 amaxey@anglogoldashanti.com
Stewart Bailey +27 81 032 2563 / +27 11 637 6031 sbailey@anglogoldashanti.com
Sabrina Brockman +1 212 858 7702 / +1 646 379 2555 sbrockman@anglogoldashanti.com
Fundisa Mgidi +27 11 6376763 / +27 82 821 5322 fmgidi@anglogoldashanti.com
Forward-Looking Information and Non-GAAP Financial Measures
Certain statements contained in this document, other than statements of historical fact, including, without limitation, those concerning the economic outlook for the gold
mining industry, expectations regarding gold prices, production, total cash costs, all-in sustaining costs, all-in costs, cost savings and other operating results, productivity
improvements, growth prospects and outlook of AngloGold Ashanti’s operations, individually or in the aggregate, including the achievement of project milestones,
commencement and completion of commercial operations of certain of AngloGold Ashanti’s exploration and production projects and the completion of acquisitions,
dispositions or joint venture transactions, AngloGold Ashanti’s liquidity and capital resources and capital expenditures and the outcome and consequence of any potential or
pending litigation or regulatory proceedings or environmental health and safety issues, are forward- looking statements regarding AngloGold Ashanti’s operations, economic
performance and financial condition. These forward-looking statements or forecasts involve known and unknown risks, uncertainties and other factors that may cause
AngloGold Ashanti’s actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied in
these forward-looking statements. Although AngloGold Ashanti believes that the expectations reflected in such forward-looking statements are reasonable, no
assurance can be given that such expectations will prove to have been correct. Accordingly, results could differ materially from those set out in the forward-looking statements
as a result of, among other factors, changes in economic, social and political and market conditions, the success of business and operating initiatives, changes in the
regulatory environment and other government actions, including environmental approvals, fluctuations in gold prices and exchange rates, the outcome of pending or future
litigation proceedings, and business and operational risk management. For a discussion of such risk factors, refer to AngloGold Ashanti’s annual report on Form 20-F
for the year ended December 31, 2015 filed with the United States Securities and Exchange Commission on March 31, 2016. These factors are not
necessarily all of the important factors that could cause AngloGold Ashanti’s actual results to differ materially from those expressed in any forward-looking statements. Other
unknown or unpredictable factors could also have material adverse effects on future results. Consequently, readers are cautioned not to place undue reliance on forward-
looking statements. AngloGold Ashanti undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or
circumstances after the date hereof or to reflect the occurrence of unanticipated events, except to the extent required by applicable law. All subsequent written or oral
forward-looking statements attributable to AngloGold Ashanti or any person acting on its behalf are qualified by the cautionary statements herein.
Non GAAP financial measures
This communication may contain certain “Non-GAAP” financial measures. AngloGold Ashanti utilises certain Non-GAAP performance measures and ratios in managing its
business. Non- GAAP financial measures should be viewed in addition to, and not as an alternative for, the reported operating results or cash flow from operations or any
other measures of performance prepared in accordance with IFRS. In addition, the presentation of these measures may not be comparable to similarly titled measures other
companies may use. AngloGold Ashanti posts information that is important to investors on the main page of its website at www.anglogoldashanti.com and under the
“Investors” tab on the main page. This information is updated regularly. Investors should visit this website to obtain important information about AngloGold Ashanti.
The financial information, including any forward-looking information, set out in this announcement has not been
reviewed and reported on by the Company's external auditors.
AngloGold Ashanti Limited
Incorporated in the Republic of South Africa Reg No: 1944/017354/06
ISIN: ZAE000043485 – JSE share code: ANG-CUSIP: 035128206 – NYSE share code: AU
Website: www.anglogoldashanti.com
Appendix 1: JORC 2012 Edition Table 1
Section 1 Sampling Techniques and Data
Criteria Commentary
Sampling techniques AGA has carried out all the drilling within the Tropicana deposit, with sampling from Reverse
Circulation (RC) and diamond drilling predominantly from one metre sample intervals, for 50g
gold fire assay.
The sampling methodology with RC drilling has changed over time. Sample collection prior to
2007 was via a cyclone, dust collection system and multi-stage riffle splitter attached to the
drill rig. From the beginning of 2007 sample collection was via a cyclone, dust collection
system and cone splitter attached to the drill rig. RC samples are collected from one metre
intervals for resource definition drill-holes, with two metre sample intervals from RC pre-collar
drilling introduced in 2016. All NQ2 and HQ diamond holes have been half-core sampled over
prospective mineralised intervals determined by the geologist, where sample intervals are
generally one metre samples. In 2016 two metre samples were processed from un-
mineralised core to collect additional geometallurgical data (hyperspectral and XRF) for waste
rock characterisation.
Within fresh rock, core is oriented for structural/geotechnical logging wherever possible. In
oriented core, one half of the core was sampled over one metre intervals and submitted for
fire assay. The other half of the core, including the bottom-of-hole orientation line, was
retained for geological reference and potential further sampling such as metallurgical test
work. In intervals of un-oriented core, the same half of the core has been sampled where
possible, by extending a cut line from oriented intervals through into the un-oriented intervals.
The lack of a consistent geological reference plane, (such as bedding or a foliation),
precludes using geological features to orient the core.
Drilling techniques Reverse Circulation drilling has been utilised to an average depth of 150m in the shallower,
up-dip, western portions of the resource and as pre-collars to diamond holes. All Reverse
Circulation drilling has been via face sampling hammer.
Diamond drilling has predominantly been NQ2 with limited HQ2, HQ3 and PQ in the upper
saprolite and for holes drilled for geotechnical and metallurgical purposes. The majority of
diamond holes have been drilled as tails to RC drilling, with NQ2 core produced for sampling
mineralisation. From 2011 many deeper holes were drilled with shorter RC pre-collars
(~60m), or HQ from surface to minimise deviation.
Drill sample recovery The sample recovery is currently recorded on selected intervals to assess that the sample is
being adequately recovered during RC drilling. Prior to April 2008, no systematic assessment
of sample recovery data was made for RC drilling. A subjective visual estimate was used
where weights were recorded as 25, 50, 75 or 100%. Since April 2008 a systematic sample
recovery program has been implemented where for 1:25 intervals, the Primary (lab weight),
Secondary (archive weight) and Reject splits are weighed and recorded in the database.
These weights are combined and then compared to a theoretical recovery of the interval
based on the regolith and rock type of the interval being analysed.
For diamond drilling recovered core for each drill run is recorded and measured against the
expected core from that run. Core recovery is consistently very high, with minor loss
occurring in regolith and heavily fractured ground.
Logging All RC chips and diamond drill cores have been geologically logged for lithology, regolith,
mineralisation and alteration utilising AGA’s standard logging code library. RC sample quality
data recorded includes recovery, sample moisture (i.e. whether dry, moist, wet or water
injected) and sampling methodology. Diamond core has also been logged for geological
structure and geotechnical properties. Diamond drill-holes are routinely orientated,
photographed and structurally logged with the confidence in the orientation recorded.
Geotechnical data recorded includes QSI, RQD, matrix, and fracture categorisation.
Bulk density determinations have been routinely collected from diamond drill core over one to
five metre intervals using water immersion methods. A coherent segment of core (>10cm
length), representative of the metre interval is selected. Laboratory bulk density determination
is completed on selected ‘core from surface’ diamond holes to collect bulk density data for
oxide and transitional rock types, and from fresh rock types to ensure water immersion
methods used onsite are accurate.
All logging data is digitally captured via Field Marshall Software (upgraded to Micromine
Geobank platform 2016) and the data is validated in Vulcan prior to being uploaded to an
Criteria Commentary
SQL database. DataShed has been utilised for the majority of the data management of the
SQL database. The SQL database utilises referential integrity to ensure data in different
tables is consistent and restricted to defined logging codes.
Sub-sampling Since the commencement of exploration activities at Tropicana, sample preparation and
techniques and analysis has been carried out by three laboratories, as detailed below:
sample preparation Prior to November 2006 - SGS (formerly Analabs) Welshpool performed all gold and multi-
element analysis. SGS routinely prepared half-core diamond samples by crushing in a jaw
crusher followed by pulping in an LM5 to 90% passing 75µm. One metre RC samples are
pulped in an LM5 to 90% passing 75µm. 50-gram samples are then assayed by fire assay.
Sieve tests are carried out on 5% of samples.
November 2006 to 2014 – Genalysis Perth has performed all gold and multi-element
analyses.
Jan 2015 – June 2016 – Genalysis Perth has performed all gold, multi-element analyses and
hyperspectral scans.
The 2015 Boston Shaker infill drilling was analysed at the Tropicana onsite lab, with sample
preparation conducted by AGAA staff operating an automated circuit, and SGS conducting
the fire assay and analysis.
May 2016 to current, infill drilling has been analysed at the Tropicana onsite lab, with sample
preparation conducted by AGAA staff operating an automated circuit, and SGS conducting
the fire assay and analysis.
At Genalysis, half core samples weighing approximately 2.5kg are prepared via a robot. The
samples are then crushed to <3mm in a Boyd crusher and automatically split, down to a
sample of ~1kg for pulping and analysis. The remainder of the material was retained as a
coarse split for metallurgical test-work. One metre RC samples were pulped in a mixer mill to
90% passing 75µm. Wet sieve tests were carried out on 5% of the samples.
The Tropicana laboratory uses a linear automated process to prepare the samples. Samples,
from RC and diamond drilling, are loaded onto racks at the lab. Each sample bag has a
unique bar-code attached to the bag. Samples are dried and weighed. Small samples
(<800g) are manually pulverised in an LM2 mill to 90% passing 75µm. Acceptable weight
samples (>800g) are loaded into tubs and the samples passed under a Terraspec
Hyperspectral camera. Samples are then passed through a Boyd crusher, reducing the
particle size to 90% passing 2mm before being split via a Linear Sample Divider. Coarse
duplicates are assayed at a rate on 1 in 20 within the assaying of the batch. Primary samples
then get pulverised to 90% passing 75µm and the resultant product split into a 50g sample for
fire assay and a 500g sample. The 500g sample passes under a portable XRF scanner for
analysis of secondary elements (that are not used in the Mineral Resource estimate). The
500g sample is retained for check assay work. Standards are inserted into batches of
samples at a frequency of three standards in every hundred. Sieve tests are carried out on
5% of samples to achieve 90% passing 75 micron. Routinely, coarse blank samples are run
through the automated sample preparation system between assay jobs to ensure sample
hygiene, and quartz flushes are pulverized between each sample at the pulverizing stage.
Coarse blank samples are inserted as the first sample in each laboratory job. The purpose of
this sample is to check that laboratory crushing and grinding equipment is kept clean. Coarse
blanks samples are also inserted into the sequence of samples before each zone of
mineralisation.
Quality of assay data At SGS 50-gram samples were assayed by fire assay. SGS inserted blanks and standards
and laboratory tests (one in 20 samples) in every batch. Every 20th sample was selected as a duplicate from the
original pulp packet and then analysed. Repeat assays were completed at a frequency of
one in 20 and were selected at random throughout the batch. In addition, further repeat
assays were selected at random by the quality control officer, the frequency of which was
batch dependent. Analysis was by fire assay with similar quality assurance (QA) for RC and
half core samples.
Genalysis inserted internal standards and blanks randomly through each batch. Every 25th
sample was selected as a duplicate from the original pulp packet and then analysed at the
end of the batch. Finally, 6% of the batch was selected for re-analysis.
Internal laboratory checks and internal and external check assays such as repeats and check
assays enable assessment of precision. Contamination between samples is checked for by
Criteria Commentary
the use of blank samples. Assessment of accuracy is carried out by the use of certified
Standards (CRM).
Check assay campaigns generally coincide with each resource update.
QA/QC results are reviewed on a batch-by-batch and monthly basis. Any deviations from
acceptable precision or indications of bias are acted on with repeat and check assays.
Overall performance of both laboratories has been satisfactory.
Verification of On receipt of assay results from the laboratory the results are verified by the Data Manager
sampling and and by geologists who compare results with geological logging.
assaying Analysis of twinned drill holes showed that no significant down-hole smearing was occurring
in RC holes when compared to the twinned diamond holes in Tropicana and Havana.
Location of data All hole locations within the resource area to date have been pegged with a standard GPS, or
points by RTK GPS. Once the holes are drilled the collar location is then surveyed with an RTK
GPS.
A regional Digital Terrain Model was then created to cover the Tropicana JV tenement area
from Shuttle Radar Topography Mission (SRTM) data. The data was sampled at 3 arc-
seconds, which is 1/1200th of a degree of latitude and longitude, or about 90 metres.
Eastman single shot instruments were used routinely for down-hole surveys prior to 2007.
From 2007, gyro surveying instruments have been used to complete downhole surveying.
Data spacing and Drill-hole spacing on sections, and between sections, typically range from 25 x 25m to 100 x
distribution 100m. The majority of the Open Pit resource area has been drill tested at a nominal density
of 50 x 50m with the spacing closed up to 25 x 25m within the upper levels of the deposit.
The down-plunge extension of the Havana Deeps area is drilled at 100 x 100m or 100 x 50m
closer to the pit area.
1m samples are composited to 2m prior to Resource Estimation.
Orientation of data in The majority of drilling is orientated to intersect normal to mineralisation. The chance of bias
relation to geological introduced by sample orientation is thus considered minimal.
structure
Sample security Samples are sealed in calico bags, which are in turn placed in large poly-weave bulka-bags
for transport. Filled poly-weave bulk-bags are secured on wooden crates and transported
directly via road freight to the laboratory with a corresponding submission form and
consignment note.
Genalysis checks the samples received against the submission form and notifies AGA of any
missing or additional samples. Once Genalysis has completed the assaying, the pulp
packets, pulp residues and coarse rejects are held in their secure warehouse. On request,
the pulp packets are returned to the AGA warehouse on secure pallets where they are
documented for long term storage and retrieval.
Audits or reviews Field quality control and assurance has been assessed on a daily, monthly and quarterly
basis.
Field QA/QC was assessed by Quantitative Group (QG) as part of their audits of the
Tropicana and Havana resource between 2007 and 2009.
Section 2 Reporting of Exploration Results
Criteria Commentary
Mineral tenement and Tropicana is a joint venture between AngloGold Ashanti Australia Limited (AGA) and
land tenure status Independence Group NL (IGO) (AGA:IGO, 70:30) AGA is the manager of the JV.
There is no known heritage or environmental impediments over the leases where significant
results were received.
The tenure is secure at the time of reporting. No known impediments exist to operate in the
area.
Exploration done by AGA has carried out all the drilling within the Tropicana deposit.
other parties
Geology The Boston Shaker, Tropicana, Havana and Havana South gold deposit host rocks are
predominantly gneisses.
Drill hole Information Drill hole information with reported mineralised intercepts are given in Appendix 2: Table of
Intercepts.
Data aggregation Reported intercepts are calculated using the following parameters: 2m minimum width,
methods maximum of 2m of consecutive internal waste, lower cut off of 0.5g/t Au, with a minimum
intercept grade of 1g/t Au. No upper cuts have been applied.
Relationship between Mineralised intercepts are calculated downhole, and approximate true widths of
mineralisation widths mineralisation, based on drill hole azimuth and dip, and dip of ore body.
and intercept lengths
Diagrams Refer to the body of the announcement – see Figure 2 for position of drill hole intercepts.
Balanced reporting The mineralised intercepts reported are given in Appendix 2: Table of Intercepts. The drill
hole intercepts reported form results of an initial 100 x 100m spaced drill programme to test
down dip extension of the Boston Shaker southern ore shoot, and which are included in the
current resource being reported. A follow up infill drilling programme, to achieve 50 x 50m
spacing, over the known resources at Boston Shaker (and drilled in the second half of 2016)
are not included in the current resource being reported. Details of holes previously drilled or
not containing mineralisation are not provided as they are not material to the understanding of
the results.
Other substantive No other exploration data to report.
exploration data
Further work Mineralisation remains open at depth. Drilling testing down-dip and along strike of currently
defined resources is continuing, with Long Island drilling programmes completed by end of
2016. The drill hole results reported will be incorporated into next resource model, scheduled
for early 2017.
Section 3 Estimation and Reporting of Mineral Resources
Criteria Commentary
Database integrity AGA uses various software programs to collect the different forms of drilling data
obtained during exploration. The main packages are from Microsoft (SQL Server and
Access), Maptek Pty Ltd. (Vulcan), Micromine Pty Limited (Micromine, Field Marshall
and Geobank), Aranz Geo Limited (Leapfrog), Maxwell Services Limited (DataShed) and
Karjeni Pty Limited (dPipe).
The database is managed with Microsoft’s SQL Server and Maxwell’s DataShed.
DataShed was developed as a front end interface to MS Access or SQL Server.
DataShed was specifically created for the exploration and mining community and
contains special queries and data management utilities unique to the mining industry.
Many of these or additional processes have been modified or added to by AGA.
Drill-hole logging data is captured in the field and in core processing facility, directly into
handheld devices, for example Husky, LXE, Toughbook or laptop computers with Field
Marshall and Geobank software. Daily drilling forms (Plods) are completed by the driller
in hard copy and signed off by the geologist, and entered into DataShed. Sampling, bulk
densities, Hardness and Magnetic Susceptibility (MagSus) readings are also recorded
digitally into handheld devices.
Up to end of 2015, the merging of logging data into the database was semi-automated
via a file transfer program called dPipe. Karjeni Pty Limited developed dPipe to facilitate
the transfer of data from one format into another into SQL databases. This program has
the ability to read a file to split, composite and append data into the desired format.
From 2016, logging data is synchronised from Geobank directly into Datashed, and field
data, such as RTK collar coordinates and downhole surveys are loaded via DataShed
importers. Assay results received from the laboratories are emailed to geologists and
stored on the server. An invoice is mailed to AngloGold Ashanti along with a hard copy
or digital PDFs of the results. The hard copies are filed in folders and PDFs stored on
the network for future auditing purposes. Assay data files are loaded via DataShed
importers, and loading procedures include QA/QC checks to ensure standards and
blanks have returned acceptable results.
Rigorous data validation procedures are in place to identify data issues.
Site visits Mining activities are ongoing and the site is visited regularly by the Competent Persons
Geological 3D solids are created for mineralised zones, dykes, shears and garnet gneiss using
interpretation Leapfrog. The mineralised domains are created by flagging intervals at a 0.3g/t gold
grade cut-off with internal lower grades included in the model. The Dykes, Shears and
Garnet Gneiss units are selected by flagging intervals based on logged lithology, as they
are the most visually distinctive units, are the least subjective when being logged and
therefore are considered to have a high level of confidence in interpretation. The dykes
are locally important as they post-date mineralisation and are generally barren of
mineralisation. Modelling of the shears is critical to understanding geotechnical aspects
and assessing the spatial controls on the mineralisation. The Garnet Gneiss units are
important because they are generally found in the hanging wall and as a precursor to
mineralisation, as well as being the dominant waste rock unit.
Dimensions The Open Pit Mineral Resource is reported within a combination of pit designs and an
A$1817 optimisation shell that is over 4km long, up to 1km wide, and approximately
450m deep.
The Underground Mineral Resource extends to a depth of approximately 1km below
surface.
Estimation and The Mineral Resource is reported from open pit and underground Mineral Resource
modelling models, estimated with differing estimation techniques and with different cut-off grades
techniques applied to each model. The Open Pit Mineral Resource have been estimated using the
geostatistical technique of Localised Uniform Conditioning using average drill hole
intercepts and is reported above a marginal (break-even) cut-off grade of 0.3g/t for oxide
material and 0.4g/t for transitional and fresh material. The Havana Deeps Underground
Mineral Resource has been estimated at a cut-off grade of 2.0g/t using the geostatistical
technique of Ordinary Kriging using average drill hole intercepts. The Underground cut-
off grade calculation is based on an underground Pre-Feasibility study completed in late
Criteria Commentary
2013, and a gold price of US$1400 (A$1704).
2m down-hole composites are used for both estimates.
Gold is the only element modelled, as no other significant element has been detected in
sampling to date which would be deleterious to mine and mill performance.
The Open Pit Mineral Resource uses block sizes of 15m (X) by 30m (Y) by 10m (Z) with
an SMU of 5m (X) by 7.5m (Y) by 3.33m (Z) for Havana and Tropicana. Boston Shaker
uses an estimation panel size of 15m (X) by 30m (Y) by 7.5m (Z) with an SMU of 5m (X)
by 7.5m (Y) by 2.5m (Z).
The Underground Mineral Resource uses a block size of 10m (X) by 10m (Y) by 2m (Z),
with blocks dipping 30° to the (grid) east, parallel to the majority dip of the orebody, with
the resulting estimate filtered to remove isolated blocks that cannot be mined
individually.
Both Resource Estimates are compared to the input data using swath plots to check for
bias in the estimation – no bias was noted in the plots.
Mining has been ongoing since 2012 and reconciliations to date indicate that the Mineral
Resource model has reconciled well with grade control.
Moisture Tonnage estimates are on a dry tonne basis.
Cut-off parameters The Open Pit Mineral Resources use a cut-off grade of 0.3g/t for oxide material and
0.4g/t for transitional and fresh material, based on Long Island study mining costs,
budgeted processing and administration costs, and a gold price of US$1400 (A$1817).
The Underground Mineral Resource has been estimated at a cut-off grade of 2.0g/t. The
cut-off grade calculation is based on an underground Pre-Feasibility study completed in
late 2013, and a gold price of US$1400 (A$1704).
Mining factors or Open Pit mining assumes selectivity of SMU’s of 5m (X) by 7.5m (Y) by 3.33m (Z) for
assumptions Havana and Tropicana. Boston Shaker uses an SMU of 5m (X) by 7.5m (Y) by 2.5m (Z).
No external dilution accounted for in the Mineral Resource.
Underground mining is based on a modified Long-Hole Open Stope method, with 20m
vertical intervals between ore drives. The Mineral Resource is filtered based on the
average grade of surrounding blocks to remove isolated blocks from the Mineral
Resource total. No external dilution is included in the Mineral Resource Estimate.
Metallurgical factors Metallurgical recovery is taken into account in the optimisation of both Open Pit and
or assumptions Underground Resource optimisations, with an average project recovery of 90.0%
assumed, based on extensive metallurgical test work completed as part of the Feasibility
Study for the Havana Open Pit.
Environmental Tropicana Gold Mine (TGM) operates under an environmental management plan that
factors or meets or exceeds all environmental and legislative requirements. TGM holds the license
assumptions to operate and valid for the life of the Ore Reserve. Environmental rehabilitation plans
are produced and cost of the rehabilitation work is accounted in the financial evaluation
model.
Bulk density Dry Bulk Density (DBD) determinations have been routinely collected on the mineralised
zones in all DDH core at one-metre intervals using water immersion methods. A
coherent segment of core (>10cm length), representative of the metre interval, is
selected. The weight is measured dry, in air, then measured submerged in water. Core
was left to dry naturally on the core racks.
Dry Bulk Density has been estimated using Ordinary Block Kriging, with areas with
insufficient data to generate a kriged estimate being assigned the average measured
value for that lithology and regolith type. Density values within units show little variation.
Classification The estimates of the Mineral Resource presented in this Report have been carried out in
accordance with the principles and guidelines of the Australian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves, published in 2012 (JORC
Code).
Mineral Resources have been classified based on the 15% rule whereby a Measured
Resource should reconcile within plus or minus 15% over quarterly production volumes,
90% of the time, and an Indicated Resource should reconcile within plus or minus 15%
over yearly volumes, 90% of the time, as per internal AngloGold Ashanti guidelines.
This criterion defines a drill spacing of approximately 25 x 25 m to define a Measured
Resource, and 50 x 50 m to define an Indicated Resource. Inferred Resources are
defined when evidence of geological and grade continuity exists sufficient to generate an
Criteria Commentary
estimated grade. The average data spacing for Inferred Resources varies, but is
generally 100 x 100m or less.
The Resource classification is consistent between the Open Pit and Underground
estimates, given that the underground mining will focus on large tonnage, low cost
methods and the resource is mined at a relatively low cut-off grade. Material defined by
relatively few drill-holes was manually recoded out of Resource classifications, and not
reported as part of the Tropicana Mineral Resource.
Audits or reviews The Open Pit Mineral Resource has been audited previously as part of the BFS by
Quantitative Group (QG) between 2007 and 2009. An additional external review of the
Mineral Resource was also completed in 2011.
Golder Associates audited the 2015 Mineral Resource estimate, and supported the
estimate with some recommendations which have been adopted for the current update.
Discussion of The relative accuracy of the Mineral Resource Estimates is reflected in the Resource
relative Classification.
accuracy/confidence A trial grade control pattern of ~100m by 100m was drilled during the BFS which
provided confidence that the Mineral Resource Estimate was accurate in that volume.
Reconciliations of the resource model to date indicate no significant flaws in the grade
estimate, with some additional lower grade material being mined than what was
predicted from the Resource.
Section 4 Estimation and Reporting of Ore Reserves
Criteria Explanation
Mineral reserve All Ore Reserves estimated for Tropicana Gold Mine are based on the Open Pit Mineral
estimate for Resource model. No Ore Reserve exists outside of the Mineral Resource base. No
conversion to Ore Underground Ore Reserve is reported.
Reserves
Mineral Resources are reported inclusive of Ore Reserves.
Site visits The Competent Person is based on site and it is part of his daily activities to inspect the
mining areas.
Study status The Ore Reserves for Tropicana are based on an operating LOM plan and a pre-
feasibility level study. For the operating LOM plan, a Feasibility Study was completed in
2010, which determined a technically achievable and financially economic mine plan. The
pits that make up the operating LOM plan are Tropicana (TP02), Havana (HA03), Boston
Shaker (BS01) and Havana South (HS01). The Pre-Feasibility study is based on an
expansion of Havana (HA04). All Ore Reserves are estimated by reporting physicals
(volumes, tonnes, grades, material types, etc.) against the resource model within detailed
staged pit designs. Ore Reserve physicals are then put through a financial model for
economic evaluation.
Performance of the on-going mining activities has demonstrated that current mine plans
are technically achievable and economically viable considering the material modifying
factors.
Cut-off parameters The cut-off grades are determined based on the net return from the gold produced at the
processing plant for each material type. Only the ore that has a grade above the cut-off
grades are included in the Ore Reserves.
Mining factors or The Ore Reserves are reported within detailed operational designs that are developed
assumptions
based on the geological resource model, geotechnical studies and financial information.
The open pit mining method is based on using a combination of shovels and excavators
matched with a truck fleet system. The staged pit designs used for Ore Reserves are
generated as three dimensional designs considering operational requirements such as
equipment access. Mining operations at Tropicana Gold Mine started in July 2012 and
the operation has proven that the designs and plans are technically achievable; no issue
preventing access or pre-strip is experienced or envisaged for the Ore Reserves. The pit
expansion for Havana (HA04) is within the current approved mining area.
Overall pit slope angles for oxide and fresh rock types are assumed to be 36°and 60°,
respectively. External and internal Geotechnical studies carried out to evaluate the
operational designs have confirmed that the pit designs do not violate the geotechnical
guidelines developed during Feasibility study. Grade control drilling is completed prior to
ore mining on a 12 x 12m pattern using reverse circulation drill rigs.
The Mineral Resource model used to develop the Ore Reserves uses blocks in 15m x
30m horizontal dimensions and 10m (7.5m for Boston Shaker) vertical bench height that
are mined in 3 flitches (3.33m in average height and Boston Shaker 2.5m in average
height), with a mining SMU 5m x 7.5m x 3.33m (Boston Shaker 5m x 7.5m x 2.5m). The
grades within the resource model have been diluted to reflect the average grade of this
mineable block size. Therefore, no other mining dilution is applied.
Mining recovery factor used is 1.0.
In the designs, a minimum of 40m width is implemented for a pit base or some location
with only one bench height, where it is technically possible to access. In the design work,
a minimum of 80m mining width is implemented as a generic rule.
Inferred material is excluded from the Ore Reserves and treated as waste material, which
incurs a mining cost but is not processed and hence does not generate any revenue. The
total quantity of the inferred material is less than 1% the Ore Reserve. Hence the
reported Ore Reserve's financial outcome is not sensitive to the Inferred material within
the pit designs.
There is no infrastructure to be completed.
Metallurgical factors The metallurgical process, which was proposed and is currently in operation, was
or assumptions
developed through a comprehensive series of test programs at scoping, pre-feasibility
and feasibility study levels. Test work was mostly at batch scale but, where considered
advisable, at pilot and demonstration plant scale.
The majority of the process uses highly mature technology. The sole exception is the
use of High Pressure Grinding Rolls to prepare ball mill feed. The equipment used for
this technology itself dates back over twenty years, and is mature. Developments for the
hard rock industry are more recent, but have now been successfully used in a number of
plants worldwide and this is the part of the process that was extensively tested in a range
of machines from pilot up to demonstration scale.
Metallurgical test work consisted of comprehensive testing of a number of composite
samples to develop the process design basis, and supplementary testing of a much
larger number of samples to establish variability. These variability samples were taken
on a grid pattern to ensure even coverage of the entire deposit. No metallurgical domains
have been recognised to date other than by regolith type and some minor variation in one
northern section of the deposit.
The ore is exceptionally free of deleterious elements and base metals. No allowances
have been made or are considered necessary.
Pilot scale test work utilised PQ diameter core. Whilst only a relatively small number of
PQ holes were drilled, their position was selected based on the prior variability test work
to provide samples considered to be adequately representative of the orebody as a
whole. The samples were also characterised by standard batch scale and
geometallurgical style tests so that results could be related to the wider orebody
As a gold mine, the product is not defined by specification. No problems are envisaged,
or have been encountered, in producing gold bars of saleable quality
Environmental Tropicana Gold Mine (TGM) operates under an environmental management plan that
meets or exceeds all environmental and legislative requirements. TGM holds the license
to operate and valid for the life of the Ore Reserve. Environmental rehabilitation plans are
produced and cost of the rehabilitation work is accounted in the financial evaluation
model.
Infrastructure Adequate infrastructure has been completed and sustaining cost of the infrastructure
(maintenance and replacement) is accounted in the financial model.
Costs Capital costs of removing waste over ore are included in the evaluations for the
applicable pits.
Mining operating costs are provided by the contractor Macmahon as rates from an
annual rate review conducted between AGA and Macmahon. Processing operating costs
have been derived from variety of sources including first principle estimates, metallurgical
test work results, budget quotations for consumables and vendors, consultant advice on
wear rates/component replacement frequency, baseline input parameters such as
exchange rates, power cost, labour numbers etc., AGA Australia Ltd advice, Lycopodium
and sub-consultants data and experienced based on similar sized operations.
No allowances have been made or are considered necessary.
Transportation cost for the produced gold doré is relatively small and charged on a
contract basis with the refinery.
The source of the treatment and refinery charges is the contract with refinery and there is
no specification and no penalty is considered for not meeting specifications.
Total royalty cost allowance is 2.5% of the total revenue
Revenue factors The assumption made for the gold price is US$1,100/oz, A$1,500/oz and the exchange
rate is US$0.73 per Au$1.0.
The assumptions are derived after reviewing historic commodity prices and exchange
rates.
Market Assessment Long term market assessments are provided by a number of independent companies.
AGA does not provide advice or endorsement for using a specific forecasting company.
Economic Tropicana Gold Mine (TGM) is now operating with mining costs based on contractor
mining rates. Processing costs have been derived via comprehensive test work and
studies. TGM is therefore not highly exposed to uncertainty in, or to inaccuracy in
estimation of, mining or processing costs. The inflation rates assumed are based on prior
AGA Treasury guidance provided, whilst discount rates utilised at AGAA is derived from
the weighted average cost of capital for Australia.
Sensitivity studies are carried out on various parameters including mining cost,
processing cost, gold price and discount rate. Gold price is the most sensitive input for
NPV and a 10% reduction would eliminate about 30,000 ounces (~0.80%) from the
Reserves.
Social Tenement status is in good standing.
Other There is no foreseeable TGM specific risk. There are typical risks of an open pit mine
operations such as heavy rain events and geotechnical risks. These risks are managed
through implementation of various risk management mechanisms as much as practical.
Classification Exploration drill-hole spacing is the basis of the classification. Proven material is defined
for the areas drilled with 25m spacing and probable is defined on 50m drill spacing.
The methodology of classification is appropriate for the deposit
Proportion of the Proved Ore Reserves is a sub-set of Measured Mineral Resources.
Probable Ore Reserves are derived from Indicated Mineral Resources.
Audits or reviews A Mineral Resource and Ore Reserve audit was completed in 2015. No unexpected
results came from the audit.
Discussion of As part of the Ore Reserve estimation process, a review is performed for the actual
relative reconciled extraction against previous year’s reserve estimation
accuracy/confidence
Reconciliation of the Ore Reserves to actual mined during the last year showed that Ore
Reserve estimation is slightly conservative.
Appendix 2: Table of intercepts
Total
Hole Dip Azimuth Depth From Width Au Gram Figure 2
Hole ID Type East North RL (Degr) (Degr) Drill Date (m) (m) To (m) (m) (g/t) Metres Ref No
230 244 14 2.76 38.6
BWD034 DDH 651916.37 6763672.76 342.74 -65.8 317.8 26/08/2016 357.8 1
271 285 14 3.18 44.5
276 294 18 3.81 68.6
BWD035 DDH 651946.37 6763605.02 342.89 -60.7 311.4 25/08/2016 363.1 300 312 12 1.85 22.2 2
315 328 13 1.93 25.1
296 304 8 4.04 32.3
BWD038 DDH 651949.25 6763569.77 342.56 -63.5 316.9 22/09/2016 398.6 3
311 348 37 2.64 97.7
312 327 15 1.72 25.8
BWD039 DDH 651982.94 6763537.79 343.17 -64.5 317.6 23/09/2016 411.3 4
331 371 40 2.71 108.5
338 350 12 4.60 55.2
BWD040 DDH 652019.75 6763498.36 343.27 -66.2 318.1 24/09/2016 412.3 5
360 386 26 3.04 79.2
278 301 23 1.83 42.1
BSD079 DDH 651978.22 6763599.74 343.38 -60.2 316.6 27/03/2016 432.4 6
325 334 9 2.73 24.6
276 300 24 1.70 40.8
BWD041 DDH 651982.49 6763598.55 343.55 -67.5 318.4 20/09/2016 357.6 7
334 348 14 2.99 41.8
297 317 20 1.54 30.9
BWD042 DDH 652016.37 6763564.20 343.80 -68.3 317.6 21/09/2016 390.6 342 349 7 3.58 25.1 8
358.5 372 13.5 2.92 39.6
322 332 10 1.48 14.8
BSD080 DDH 652063.26 6763538.54 345.79 -60.9 317.9 28/03/2016 507.3 9
384 398 14 5.77 80.8
370 378 8 1.11 8.9
BSD081 DDH 652118.44 6763467.60 343.99 -59.8 315.7 28/03/2016 525.3 10
411 428 17 3.65 62.1
239 241 2 2.30 4.6
BWD032 DDH 651985.90 6763673.62 346.79 -62.6 320.0 21/08/2016 370.2 302 315 13 3.65 47.4 11
321 326 5 1.18 5.9
BWD033 DDH 652020.85 6763638.33 348.84 -65.4 318.5 23/08/2016 419.4 335 347 12 2.42 29.0 12
281 283 2 1.73 3.5
BWD043 DDH 652054.65 6763606.14 348.67 -66.8 315.3 18/09/2016 402.6 13
355 368 13 2.53 32.9
BWD044 DDH 652093.86 6763566.80 347.01 -66.5 317.7 19/09/2016 423.6 382 398 16 3.80 60.9 14
334 339 5 1.47 7.3
BWD045 DDH 652130.67 6763529.76 345.46 -65.1 319.5 17/09/2016 453.6 15
409 420 11 3.71 40.8
BWD031 DDH 652087.08 6763643.09 345.63 -63.6 319.1 9/08/2016 420.7 364 378 14 4.70 65.8 16
BSD077 DDH 652126.82 6763603.86 345.92 -59.9 316.1 4/04/2016 485.8 387 406 19 3.40 64.6 17
410 426 16 3.12 49.8
BWD046 DDH 652160.34 6763570.34 346.22 -61.6 318.1 16/09/2016 456.0 18
435 440 5 1.68 8.4
78 80 2 2.84 5.7
BSD078 DDH 652197.04 6763533.70 345.89 -60.8 317.5 30/03/2016 555.9 422.5 426.4 3.9 3.93 15.3 19
428.5 442 13.5 3.25 44.0
BWD029 DDH 652072.19 6763727.02 344.88 -72.9 321.4 8/08/2016 384.7 291 318 27 3.85 103.8 20
342 344 2 1.33 2.7
BWD047 DDH 652130.16 6763676.26 354.50 -77.2 316.1 15/09/2016 420.8 21
386 402 16 4.63 74.0
Total
Hole Dip Azimuth Depth From Width Au Gram Figure 2
Hole ID Type East North RL (Degr) (Degr) Drill Date (m) (m) To (m) (m) (g/t) Metres Ref No
BSD075 DDH 652266.35 6763602.62 355.31 -60.3 316.5 23/03/2016 507.7 439 450 11 2.88 31.7 22
BSD070 DDH 652283.83 6763734.62 353.63 -61.1 318.2 17/03/2016 420.5 311 318 7 3.56 24.9 23
BWD019 DDH 652374.38 6763708.45 356.46 -65.7 318.7 1/11/2016 428.8 362 379 17 5.53 94.1 24
BWD013 DDH 652318.75 6764013.11 344.94 -69.1 316.4 6/09/2016 276.7 247 256 9 3.53 31.8 25
BWD014 DDH 652339.41 6763956.82 345.23 -62.9 318.1 7/09/2016 309.6 264 272 8 4.16 33.3 26
BWD015 DDH 652411.28 6763884.89 345.76 -63.5 317.1 8/09/2016 363.6 335 344 9 7.89 71.0 27
BWD010 DDH 652374.61 6763992.34 345.32 -64.4 316.6 5/09/2016 309.8 279 287 8 4.21 33.7 28
BWD011 DDH 652409.64 6763956.16 345.73 -63.3 317.0 6/09/2016 342.8 306 316 10 6.48 64.8 29
BSD069 DDH 652525.16 6763904.27 346.28 -59.7 315.7 25/04/2016 471.4 387 395 8 2.69 21.6 30
Competent Persons Statements
The information that relates to the Tropicana Mineral Resources is based on, and fairly represents
information and supporting documentation compiled by Mr Mark Kent, a full-time employee of
AngloGold Ashanti Australia Limited, who is a member of The Australasian Institute of Mining and
Metallurgy. Mr Kent has sufficient experience relevant to the type and style of mineral deposits under
consideration, and to the activity which has been undertaken, to qualify as a Competent Person as
defined in the 2012 edition of the JORC Code. Mr Kent consented to the inclusion in this report of the
Tropicana Mineral Resource estimate, based on the information in the form and context in which it
appears.
The information that relates to the Tropicana Ore Reserves is based on, and fairly represents
information and supporting documentation compiled by Mr Jason Vos, a full-time employee of
AngloGold Ashanti Australia Limited, who is a member of The Australasian Institute of Mining and
Metallurgy. Mr Vos has sufficient experience relevant to the type and style of mineral deposit under
consideration, and to the activity which has been undertaken, to qualify as a Competent Person as
defined in the 2012 edition of the JORC Code. Mr Vos consented to the inclusion in this report of the
Tropicana Ore Reserve estimate, based on the information, in the form and context in which it
appears.
The information in this report that relates to Exploration Results is based on information compiled by
Mr. Damon Elder who is a full-time employee of AngloGold Ashanti Australia Ltd and is a member of
The Australasian Institute of Mining and Metallurgy. Mr. Elder has sufficient experience which is
relevant to the style of mineralisation and type of deposit under consideration and to the activity
being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the
‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr.
Elder consents to the inclusion in the report of the matters based on his information in the form and
context in which it appears.
Date: 15/12/2016 07:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
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