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Exploration Objectives

The objective of the exploration being carried out within the area of EL1/2010 was to define significant mineralisation that could be assessed to JORC compliant standards and taken through feasibility to production. This process is usually a 7 to 10 years period on average and PMSB is trying to shortcut the process by carrying out high quality exploration using a variety of different data sets to target mineralisation.
The lack of data is usually the main reason programs fail to find significant mineralisation if it is present within the area explored.
PMSB believes it is on track to be able to reach feasibility and the decision to develop a hard rock gold or gold-copper mine within a four year period which commenced in September 2012.

Geochemical Sampling

Geochemical sampling was carried out initially on a 100 metre x 100 metre GPS located grid with the aim of covering the entire 37 km2 area tenement. Infill lines at 50 m spacing were placed over some areas where initial results indicated geochemical responses indicative of gold mineralisation in the bedrock.
Samples were taken of horizon soils, which were usually somewhere between 20 and 60 cm below the surface. Sample locations were preprogramed into the GPS so reliability of location of the samples taken was high.
Rock chip samples were taken where potentially mineralized rocks were observed in regional stream traversing and in road cut mapping. In addition detailed rock chip or channel sampling was undertaken in areas with gold in soil anomalies to better define anomalies and to assist in drill hole targeting.
Soil samples were analysed for 51 elements including fire assay by ALS Global in their Vientiane and Brisbane laboratories. Rock chip samples were analyzed for 33 elements including fire assays.
Extensive interpretation of the multi element geochemical data has been undertaken to try and define not only anomalous responses but also model where the geochemical signatures would be found in a 3D model of various epithermal to porphyry type environments. The geochemical data has also been used to infer the occurrence of highly fractionated magmas which may be volcanics but, by analogy to some known locations on the ground, may be highly evolved and potentially mineralized granites.

Geological mapping

Geological mapping was carried out on a regional basis from observations of outcrops and also in detailed stream traversing carried out in selected areas of the tenement where drilling programs were anticipated to be carried out. Mapping done is shown on the tenement scale map and also on the project area maps for Galas Junction project and Peninsula Project. Mapping was not formally undertaken over the entire tenement area due to very limited exposures except in high gradient valleys, areas of alluvial mining and in some road cuts into steep slopes.

IP Survey

A 3D IP survey was carried out at the most probable target types, interpreted from regional geology, analogy to significant deposits in the Central Gold Belt and on models of the characteristics of the styles of gold mineralisation likely to occur in the Central Gold Belt.
The potential issues of responses due to carbonaceous rocks and magnetite bearing rocks were recognized and the data interpreted in the light of these possible interferences to what otherwise should indicate the presence of disseminated sulphide deposits.

Diamond Drilling Program

The diamond drilling program was carried out over targets defined from soil geochemistry, geological mapping, old alluvial and hard rock workings mapping and from the IP responses in the geochemically anomalous areas.
Targets in two separate areas were drilled.

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