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block37summary
BLOCK37PROSPECTINGLICENCE
REPORTONEXPLORATIONACTIVITIESANDEXPENDITURESFORTHEPERIOD8DECEMBER2004–8DECEMBER2007
Duringtheabove-mentionedperiod,theManagementofOmaiBauxiteMiningInc.andBosaiMineralsGroup(Guyana)Inc.wereengagedintheexecutionofexplorationactivitiesintheArea(commonlyreferredtoasBlock37),describedinProspectingLicencePL17/2004,grantedbytheGuyanaGeologyandMinesCommisssiontotheLicensee,OmaiBauxiteMiningInc.Theseactivitieswerefocusedonaccumulationoftopographicdetailsofthedepositaswellaspreliminarycomputermodelingforquantificationandqualificationofthebauxitereservesbasedontheavailableboreholedata.
Themajoraccomplishmentsoftheseactivitieshavebeen:
∙CompletionoftheBoundarySurveyofthedeposit.
∙CompletionofPhase1oftheTopographicSurvey(mainaccessroads,secondaryroadsandtrails).
∙Conversionofexistingboreholeinformationdataintoelectronicformat.
∙ComputermodelingusingGemcomsoftwaretogenerateGeologicalandBlockModelsofthedepositforreserveestimation,gradedistributionandresourceclassification.
∙CommencementofPhase2oftheTopographicSurvey(cuttingsurveylinesat800ft.(244m)intervalsparalleltotheold1,600ft.(488m)drillholegrid).
∙Commencementofin-filldrillingtoprovideadditionaldataforoptimisingandupgradingoftheGeologicalandBlockModels.
∙CollationofdatathroughaHydrologicalSurveytodeterminetheseasonalimpactonflowratesofthemajorriversandcreekstraversingthedeposit.
∙CompilationofadetailedplanofthedepositencompassingalldatagarneredfromtheBoundaryandTopographicSurveystodate.
Expenditureduringtheperiodissummarisedasfollows:
Geology/Modelling$65,274
Surveys$70,197
Drilling$35,520
Assays$1,440
PropertyandAdministration$28,813
Total$201,244
AttachedaresummaryreportswhichweresubmittedonallactivitiesconductedduringthetenureoftheProspectingLicence.
OmaiBauxiteMiningInc.
Block37ProspectingLicense
AnnualReport2006
During2006,asignificantamountofworkwasaccomplishedtoconvertthedatabasefrompreviousdrillresultsintoelectronicformat.Ablockmodelwasconstructedusingtheelectronicdatabase.Resourceswerecalculatedandcategorized.Inthefield,theland-boundaryofBlock37wassurveyed.Thissurveywasnotcompletelyfinishedatyear-end.
ElectronicDatabase
UnderthesupervisionoftheOGMLTechnicalSuperintendentandaCambiorgeologist,allknowndrillholedataforBlock37wastabulatedintoelectronicspreadsheets.Thisworkwassubsequentlycheckedforaccuracybycomparisonwiththeoriginalpapercopy.TheparametersincludedinthedatabaseweretotalAl2O3,totalSiO2,totalFe2O3,andtotalTiO2.
ComputerModeling
Gemcomsoftwarewasusedforblockmodelcreation.Aninitialtopographicsurfacewascreatedfromthedrillholecollarelevations.Athree-dimensionalgeologicmodelwascreated,whichfeaturedasinglebauxitelayerdefinedbytheupperandlowersurfacesofthebauxitepresentineachdrillhole.Theoverburden,presentabovethebauxitetothesurface,wasassignedasinglerock-codeinthemodel.
Aclippingpolygonwasusedtolimittheperimeterofthedepositbasedonexcludingholeswherelessthan½meterofbauxitewaspresent.Drillspacingis1,600feet(487meters)ontheBlock37deposit.SomedrillholesoutsideoftheactualboundariesofBlock37wereusedinthemodel.ThiswasdonetosupplymoredatasothattheeventualresourcecalculationcouldcalculatetotheedgeoftheProspectingLicense(PL)whenthebauxitewaspresentattheedgeofthePL.ThebauxiteoutsidethePLboundarywas,ofcourse,notincludedintheresourcetabulation.
The3-Dgeologicmodelwasincorporatedintoablockmodel.The2-foot(0.61meter)originalsampleassaydatainthegeologicsolidwerecompositedinto1.5-meterintervals.ThiswasconsistentwiththemodelingdoneontheMontgomeryDepositandrepresentsthe2-metermininginterval.Compositesoflessthan0.6meterswereexcludedfromthedatabase.VariographywasperformedbyFrancisCloustonoftheCambioradministrativeofficeinCanada.
InverseDistanceSquaredmethodwasusedtoestimatetheresource.ThisisthesameestimationmethodusedontheMontgomeryresourcesandreserves.Fortheresourcesestimation,aflat,omni-directionalsearchellipsewasemployedtoaccountforthetabularnatureofthebauxitelayer.Theestimatingparametersfortheresourcecalculationareintable1.
Table1InverseDistanceSquaredEstimationParameters
Resource
Category
SearchRadius
X,Y,Zaxis
MaxNumber
composites/hole
Minimumnumber
Compositesamples
Measured
80M,80M,50M
3
9
Indicated
200M,200M,50M
3
6
Inferred
300M,300M,50M
3
3
TheZ-axisparameterusedwaslargerthanthevariographyindicatedbutthe50-metervaluewasusedsothatcompositesfrommorethanonedrillhole,especiallyontheedgesofthebauxitelayer,couldbecaptured.AnyundesirableeffectsofanexaggeratedZ-axisaremitigatedbylimitingtheestimationtoonlythebauxitelayerandalsobythelimitofthreecompositesperhole.
Thecalculationsweremadeandtabulatedintotheinternationallyrecognizedresourcecategories.Theresourceswerealsotabulatedastodistributioninsilica-contentgradecategoriesusedinmineplanningattheMontgomeryMine.Adrydensityof1.72tonnesperbank-cubicmeterwasusedinthecalculations.ThisisconsistentwiththebauxiteintheMontgomerydeposit.TheminingresourcesforBlock37arelistedinTable2.Therewerenotonnesinthe“Measured”categorysincethedrillspacingissofarapart.
Table2.MineralInventory
Resource
Classification
Tonnes
Total%Al2O3
Total%SiO2
Total%Fe2O3
Total
%TiO2
Measured
0
-
-
-
-
Indicated
1,727,568
59.33
4.75
1.36
2.13
Inferred
69,802,400
60.03
4.80
1.60
2.23
TOTAL
71,529,968
60.01
4.79
1.59
2.22
Theresourcesweretabulatedaccordingtogradedistribution.TheMontgomeryconventionof0to4%SiO2asLowSilica,4%to7%SiO2asMediumSilica,and7%to10%SiO2asHighSilicawasused.
Table3.GradeDistributionoftheResources
GradeDistribution
Tonnes
Total
%Al2O3
Total
%SiO2
LowSilica
39,987,897
61.21
2.98
Mediumsilica
22,362,402
59.09
5.30
HighSilica
10,362,309
58.40
8.46
V.HighSilica
2,817,360
57.86
10.47
TOTAL
71,529,968
60.01
4.79
Thereisapproximately20%morelowsilicabauxitethanmediumandhighsilicamaterialcombined.
Land-BoundarySurvey
During2006,aprojectwasinitiatedtosurveytheboundaryofBlock37.Theprojectwasnotcompletedattheendoftheyear.TheworkstartedinlateSeptemberandanestimatedtwoweeksmoreworkwillbeneededforcompletionin2007.
Thesurveyworkinvolvedcuttingapproximately10kilometersofsurveyline.TheNortheasterncornerofBlock16wasusedasthestartingreference.InformationfromtheOfficialGazette128/20041591GS14:
0-17wasconsultedtolocatethispoint.However,theinformationintheOfficialGazettewasbasedonapproximations.AdrawingofBlock16andBlock37fromtheGGMCvaultwasfoundandthisinformationwasusedtoestablishamorepreciselocation.Thediscrepancywasreportedtothegovernment.
ThesurveywasaccomplishedwiththeuseofaTotalStationinstrument.ThefieldreadingswerecompiledandsubsequentlyreducedintotheOBMIdatabaseandgrid.TheworktraversedtheKara-KaraRiverandtheLemunaCreekaswellasswampyareas.Workingdrawingswereproducedtonoteprogress.Uponcompletion,finaldrawingsandmapsofthesurveywillbecreated.
Block37
2006Expenses
Expensesincurredforthe2006work-yeararetabulatedasfollows.Theseexpenseswerenotaccordingtotheoriginalbudgetsincetheworkplanhaschangedsubsequenttothepreparationofthebudget.Moreemphasiswasplacedonbackgroundunderstandingofthedepositin2006.Thiswillallowamorefocusedapproachtofieldactivitiesplannedfor2007.
Block37
2006Costs
Actual
Budget
Geology
3,076
16,000
Modeling
44,198
0
Survey
12,150
0
Drilling
0
52,200
PropertyandAdministration
11,441
2,000
TOTAL
70,865
70,000
Geologicalexpensewasincurredintheareasofdatareviewandtheresearchingofoldrecords.
Modelingcostswereduetotechniciantimespententeringdrilldatatocreatethedatabase.Technologisttimewasspenttocreateandrunthemodelsonthecomputersaswellasfordatabaseerrorchecking.
Surveyingcostswereincurredmainlyfortheactualsurveyincludingsurveyreductionandmappinganddraftingandalsoforlinecuttingandbrushremoval.Therewerealsocontractorexpensesforaboatininaccessibleareas.
TherewasnodrillingdoneonBlock37in2006.
PropertyandAdministrativeexpensesincludedannualfees,generalprojectplanningandover-site,andmanagementfollow-up.Thesecostsalsoincludedscheduling,contractadministration,generaltransportationcosts,andaccountingcosts.
BLOCK37PROSPECTINGLICENCE
REPORTFOR2007
Summary
ThefirstQuarterof2007wasmarkedbythetransitionofmanagementofOmaiBauxiteMiningInc.fromIamgoldtoBosaiMineralsGroupCo.Ltd.asaresultofthelatter’spurchaseofIamgold’s70%sharesinOBMI.Subsequently,thenameofthecompanywaschangedtoBosaiMineralsGroup(Guyana)Inc.TheGovernmentofGuyanaretainstheremaining30%sharesinBMGGI.
Despitethechangeinmanagement,workcontinuedinBlock37,withtheBoundarySurveybeingcompletedinApril2007andtheTopographicSurvey,beguninMay2007,expectedtobe50%completedbythe