NI 43-101 TECHNICAL REPORT Mineral Resources

Transcription

NI 43-101 TECHNICAL REPORT
Mineral Resources Estimation for the
Castelo de Sonhos Project
Pará State - Brazil
Prepared for TriStar Gold Inc.
Effective Date: 27th, August 2014
Report Date: 22nd, September 2014
RBM Consultoria Mineral Ltda
Endorsed by Qualified Person: Rodrigo Mello, FAusIMM
TABLE OF CONTENTS
1 SUMMARY ........................................................................................................................ 6 1.1 Introduction ..................................................................................................................... 6 1.2 Property Description and Ownership .............................................................................. 6 1.3 History ............................................................................................................................ 7 1.4 Geology and Mineralization ............................................................................................ 7 1.5 Exploration ...................................................................................................................... 7 1.6 Metallurgy ....................................................................................................................... 7 1.7 Mineral Resources Estimation ........................................................................................ 8 1.8 Conclusions & Recommendations .................................................................................. 8 2 INTRODUCTION ............................................................................................................. 10 3 RELIANCE ON OTHER EXPERTS ................................................................................ 10 4 PROPERTY DESCRIPTION AND LOCATION ............................................................... 11 4.1 Location ........................................................................................................................ 11 4.2 Land Tenure and Mining Rights ................................................................................... 12 4.3 Surface Rights .............................................................................................................. 14 4.4 Property Encumbrances ............................................................................................... 15 5 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND
PHYSIOGRAPHY ........................................................................................................... 15 5.1 Site Access ................................................................................................................... 15 5.2 Site Physiography ......................................................................................................... 15 5.3 Infrastructure ................................................................................................................ 17 6 HISTORY ........................................................................................................................ 17 7 GEOLOGIC SETTING .................................................................................................... 19 7.1 Regional Geology ......................................................................................................... 19 7.2 District and Property Geology ....................................................................................... 21 7.3 Mineralization ............................................................................................................... 24 8 DEPOSIT TYPE .............................................................................................................. 25 9 EXPLORATION ............................................................................................................... 26 9.1 Previous Works ............................................................................................................ 26 9.2 Mapping and Geochemical Sampling ........................................................................... 26 9.3 Geophysical Surveys .................................................................................................... 27 9.4 Interpretation ................................................................................................................ 29 Mineral Resources Estimation for the Castelo de Sonhos Project - Pará State - Brazil
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10 DRILLING ........................................................................................................................ 29 10.1 Introduction ................................................................................................................... 29 10.2 Drilling Methodology ..................................................................................................... 31 10.3 Logging ......................................................................................................................... 31 10.4 Details of Drilling by Area ............................................................................................. 31 10.4.1 Esperança South ................................................................................................... 31 10.4.2 Esperança Center ................................................................................................. 37 10.4.3 Esperança East ..................................................................................................... 38
11 SAMPLE PREPARATION, ANALYSIS AND SECURITY................................................ 38 11.1 Surface Samples .......................................................................................................... 38 11.2 Sample Custody and Security ...................................................................................... 39 11.3 Sample Preparation ...................................................................................................... 39 11.4 Sample Analysis ........................................................................................................... 40 11.5 Quality Assurance and Quality Control ......................................................................... 40 11.5.1 Blanks .................................................................................................................... 41 11.5.2 Umpire Laboratory Checks .................................................................................... 42 11.5.3 Certified Reference Materials ................................................................................ 42
11.6 Conclusions and recommendations ............................................................................. 42 12 DATA VERIFICATION .................................................................................................... 43 12.1 Data Examination ......................................................................................................... 43 12.2 Site Visit........................................................................................................................ 43 13 MINERAL PROCESSING AND METALLURGICAL TESTING ....................................... 44 14 MINERAL RESOURCE ESTIMATE ................................................................................ 46 14.1 Methodology ................................................................................................................. 46 14.2 Database ...................................................................................................................... 46 14.3 Selection and Analysis of Representative Samples ..................................................... 47 14.4 Compositing and Outlier Analysis ................................................................................. 47 14.5 Density Estimation ........................................................................................................ 48 14.6 Population Analysis ...................................................................................................... 48 14.7 Variography .................................................................................................................. 49 14.8 Block Model Parameters .............................................................................................. 50 14.9 Kriging Strategy ............................................................................................................ 51 14.10 Mineral Resource Classification ................................................................................... 51 14.11 Model Validation ........................................................................................................... 52 14.12 Resource Reporting Criteria ......................................................................................... 55 14.13 Results .......................................................................................................................... 56 Mineral Resources Estimation for the Castelo de Sonhos Project - Pará State - Brazil
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15-22 ITEMS RELATED TO PROJECT FEASIBILITY.............................................................. 57 23 ADJACENT PROPERTIES ............................................................................................. 57 24 OTHER RELEVANT DATA AND INFORMATION .......................................................... 57 25 INTERPRETATION AND CONCLUSIONS ..................................................................... 57 26 RECOMMENDATIONS ................................................................................................... 59 27 REFERENCES ................................................................................................................ 60 28 CERTIFICATE OF AUTHOR .......................................................................................... 61 Mineral Resources Estimation for the Castelo de Sonhos Project - Pará State - Brazil
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LIST OF TABLES
Table 1: Mineral Resources Statement for the Castelo de Sonhos Project ............................ 8 Table 2: Mining Properties in the Castelo de Sonhos Project .............................................. 13 Table 3: Values spent in the Castelo de Sonhos property as at July 31st 2014 .................... 19 Table 4: Comparison between Castelo de Sonhos and peer deposits ................................. 25 Table 5: Summary of the exploration work developed by Barrick at the property ................ 26 Table 6: Most significant intercepts for Esperança South target ........................................... 32 Table 7: Most significant intercepts for Esperança Center area ........................................... 37 Table 8: Most significant intercepts for Esperança East area ............................................... 38 Table 9 : QA/QC submission rates ....................................................................................... 41 Table 10: Metallurgical Study Summary ............................................................................... 45 Table 11: General stats of drilling used in this evaluation ..................................................... 46 Table 12: Raw samples, contained within mineralized zones ............................................... 47 Table 13: Effect of capping ................................................................................................... 47 Table 14: Composites, after capping, as used for kriging ..................................................... 47 Table 15: Statistics for different lithology types ..................................................................... 48 Table 16: Block model parameters for Esperança South ..................................................... 50 Table 17: Block model parameters for Esperança Center .................................................... 51 Table 18: Kriging strategy for ES and EC models ................................................................ 51 Table 19: Parameters used for Lerchs-Grossmann analysis ................................................ 55 Table 20: Castelo de Sonhos Project Mineral Resources Table .......................................... 56 Table 21: Mineral Resources Grade-Tonnage table for Castelo de Sonhos ........................ 56 LIST OF FIGURES
Figure 1: Property Location................................................................................................... 11 Figure 2: Mineral Rights Location ......................................................................................... 14 Figure 3: Landscape over the Castelo de Sonhos plateau ................................................... 16 Figure 4: Property position in relation to the plateau formed by the Castelo de Sonhos Fm. 16 Figure 5: Photographs with views of the field camp and the core shed. ............................... 17 Figure 6: Regional geology map ........................................................................................... 20 Figure 7: Photographs of conglomerate supported by clasts (left) and by matrix (right)....... 22 Figure 8: Local Geology map ................................................................................................ 23 Figure 9: Vertical geologic profile along section A-B ............................................................ 23 Figure 10: Map with the conglomerate unit and the gold anomaly in soil ............................. 24 Figure 11: Magnetometry: Analytic signal map ..................................................................... 28 Figure 12: Gamma spectroscopy: Ternary map ................................................................... 28 Figure 13: Photographs of drilling and sampling activities at the Project .............................. 29 Figure 14: Drilling location ................................................................................................... 30 Figure 15: Representative Geological Cross Section (looking north) - Esperança South .... 35 Figure 16: Representative Geological Cross Section (looking north) - Esperança Center .. 36 Figure 17: Histogram of gold values used for the estimate. .................................................. 49 Figure 18: Variogram parameters ......................................................................................... 50 Figure 19: Drift analysis along WE axis ................................................................................ 53 Figure 20: Drift analysis along NS axis ................................................................................. 53 Figure 21: Drift analysis along height.................................................................................... 53 Figure 22: Three examples of vertical sections at ES model, with drilling and the conceptual
pit .................................................................................................................................. 54 Cover figure: Map with the conglomerate outline compared with the gold anomaly in results of soil
samples, demonstrating strong correlation.
Mineral Resources Estimation for the Castelo de Sonhos Project - Pará State - Brazil
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1
1.1
SUMMARY
Introduction
TriStar Gold Inc. (TriStar or TSG) retained the services of RBM Consultoria Mineral Ltda
(RBM) to prepare a mineral resources estimate and Technical Report, covering its Castelo
de Sonhos project, a gold deposit located in the Pará State, Brazil (the Property). This report
follows the requirements of National Instrument 43-101 Standards of Disclosure for Mineral
Projects (“NI 43-101”). TriStar can disclose it pursuant to Canadian securities laws. The
mineral code followed in this report is the CIM Standards on Mineral Resources and
Reserves: Definitions and Guidelines, of November, 2010.
Rodrigo Mello, FAusIMM, RBM Principal Geologist, is the author of this report, serving as
Independent Qualified Person for it, as defined in CIM Code and the NI 43-101. The author
visited the property from November 27th to 28th, 2010.
In preparing this report, RBM relied on reports, studies, maps, databases and miscellaneous
technical papers listed in the references section of this report. The preparation of this report
was a joint effort between RBM and TriStar personnel.
The purpose of this Technical report is to document the exploration work on the Property
since 2011, when TriStar commenced activities at the area, to present the methodology
used for the mineral resource estimate, and to support the public disclosure of mineral
resources at the Property in a News Release dated August 18th, 2014. Since a relevant
event occurred after this release, the granting of permit extensions by three years, for three
claims compounding the property (as announced in August 28th, 2014), the effective date of
this report is August 27th, 2014.
1.2
Property Description and Ownership
The Castelo de Sonhos Property is composed by six contiguous claims, totaling 31,032
hectares. On five of those claims, the title holder is Mineração Castelo dos Sonhos (MCS), a
company 100% controlled by TriStar, subject to certain encumbrances. For the sixth area,
TriStar has priority in a bid process, which will result in a new exploration permit. For the
area 850.329/2002, host of most resources reported in this document, TriStar submitted a
final positive report in July, 2014. After approval, it will allow TriStar to request the license for
exploitation.
The Castelo de Sonhos project is project is situated in the Southwest of Pará State, near the
federal road BR-163 which links Cuiabá (capital of state of the Mato Grosso) to Santarém
(important city with a fluvial port, in Pará State).
TriStar has a well-equipped field camp at the local, with a 550 m long airstrip. Road access
to the project is possible year-round.
Vegetation in the area is savannah type. The climate is classified as Tropical Monsoon
(Köppen classification).
Surface rights belong to state. Three individuals claim ownership, although they do not
possess land titles. TriStar has free access to the area, through contracts with two of them.
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1.3
History
The Castelo de Sonhos gold deposit was discovered in 1996 by Barrick Gold Corp., who
developed an aggressive exploration program, including 23 diamond drill holes. Barrick left
the area in 1997 and no further exploration occurred there until early 2011, when TriStar
signed an option agreement with the area owner and started exploration. Since then, TriStar
has spent US$ 10.4 million on the property. Of this, US$ 9.2 million was spent in exploration
activities and US$ 1.2 million in acquisition costs.
The Tapajós gold province, in which the CDS project is located, was the scene of the biggest
gold rush in Brazil´s history. An estimated number of 100,000 to 200,000 garimpeiros
worked at the region from the 1960´s to mid-1990´s, exploring gold, mainly on fluvial
sediments, with a total production estimated as between 16 and 30 million ounces of gold.
1.4
Geology and Mineralization
The mineralization occurs within the Castelo de Sonhos Formation, which sits over late
granitic intrusions, in the limit between two provinces of the Amazon craton: the Central
Amazon Province and the Tapajós-Parima Province. This formation is a sedimentary basin
of over two billion years of age, formed by a basal unit of arenite, followed by a
conglomerate unit, 200-300 m thick, which is covered by a second unit of arenite. The
conglomerate unit is made by an alternation of conglomerates and conglomeratic arenite
beds, gradating to each other both vertically and laterally.
The package is folded in a gentle syncline whose hinge is displaced to Northeast by a set of
strike-slip faults. Gold mineralization is associated with the conglomeratic unit. Mineralization
appears to be controlled by stratigraphy (conglomerate reefs) and hydrothermal alteration
(silicification and hematitization), which is controlled, in turn, by rock permeability, caused by
natural porosity and structural fractures.
1.5
Exploration
The exploration campaign started by an airborne geophysics survey, with acquisition of mag
and gamma data. A soil geochemistry was used to confirm and extend previous anomalies
found by Barrick. Geological mapping demonstrated the strong correlation of the gold
anomalies with the conglomeratic unit and defined the structural framework.
Three campaigns of drilling, totaling 16,656 m, were undertaken. 60% of the drilling was
done on the Esperança South target and 35% on the Esperança Center target. 5% of the
drilling refers to scout drilling, testing anomalies revealed by the soil geochemistry. Two
other targets were discovered with this work, Esperança East and West, but these results
were not used in the present resource evaluation due to insufficient drilling.
1.6
Metallurgy
Limited metallurgical testwork has been undertaken at Castelo de Sonhos. One sample, with
head grade of 3.31 g/t Au and composed of the coarse rejects of 41 mineralized samples,
was tested at SGS/Geosol Laboratory, at Vespasiano, Brazil. This sample underwent the
following tests: milling, gold analysis by particle size, gold recovery by gravity method,
followed by cyanidation of the tailings, on two different grain sizes, 150 µm and 53 µm (P80).
Energy consumption to reduce the material to 53 µm was considered excessive, therefore
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the recovery results used for the purposes of this report are those obtained by milling at 150
µm (P80). The recovery obtained on the gravity test was 76.2%. The leaching of the tailings
of the gravity concentrator resulted in 84.6% recovery. Combined gold recovery reached
96.5%. Given the expected lower average grade of the ore, a recovery of 93.5% was used to
define the conceptual pit.
Direct cyanidation of the crushed material (100% minus 2 mm) was also tested. After 24 h
leaching, a 78.7% gold recovery was obtained.
The tests suggest that the Castelo de Sonhos mineralization is free milling, indicating a
simple extraction process, possibly reflecting in low capital and operational costs.
1.7
Mineral Resources Estimation
Mineral Resource estimate was conducted by RBM using mineralized envelopes to constrain
grade estimation. The drillholes were composited at 2 m intervals. A capping value of 10 g/t
Au was used to reduce the influence of outlier data. The block grade estimation was
preceded by Ordinary Kriging to define grade of mineralized material. Waste material
received a value of 0.10 g/t Au, which is the average of the samples adjacent to mineralized
zones. Gold grades were estimated at complete blocks of 5 m x 5 m x 2 m, by averaging ore
and waste grade, weighting by the percentage of each material.
The methodology is an accepted industry practice. Two block models were prepared:
Esperança South and Esperança Center. Resources were classified according to CIM
guidelines, as Indicated or Inferred, for the former, and Inferred, for the latter. Pit
optimization conceptual shells were used to constrain open pit resources, using parameters
from the metallurgical testwork and by benchmarking similar projects in Brazil. No evaluation
for potential underground resources was made in the present work. Table 1 below shows the
result of this estimation, at the expected break-even cut-off grade of 0.40 g/t.
Table 1: Mineral Resources Statement for the Castelo de Sonhos Project
Castelo de Sonhos Mineral Resource Statement at 0.40 g/t cut-off grade
Indicated
Inferred
Target
K tonnes
Au (g/t)
Au (KOz)
K tonnes
Au (g/t)
Au (KOz)
Esperança South
2,788
2.03
182
2,788
2.03
182
769
661
1,430
2.41
1.81
2.13
60
38
98
Esperança Center
Total
1.8
Conclusions & Recommendations
RBM concludes the following:

The geology of the Castelo de Sonhos Project is similar to other conglomeratehosted gold producers like Tarkwa and Jacobina and occurs in the Tapajós province,
a region with a rich gold endowment. Further investments in exploration are well
justified, since the area has high prospectivity for gold.

Exploration procedures employed by TriStar and the quality of the data generated by
these procedures were found adequate for purposes of mineral resource estimation.
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
Orebody interpretation and modeling suggests a relatively simple pattern of
mineralization, with sub-planar lenses semi-concordant with the sedimentary
bedding. Mineralization is open in several directions and should be followed-up with a
step-out drilling campaign to determine the limits of the mineralized system.

Standard estimation procedure, based on Ordinary Kriging, was used to create two
block models. The Esperança Center target was considered insufficiently drilled and
was classified entirely as inferred resources. The Esperança South target was
considered better drilled, supporting the classification of indicated for those blocks
with two drillholes within an ellipsoid of 66 m range. Only the mineralized material
contained within the break-even conceptual pits is reported.

Preliminary metallurgical testwork indicates metallurgical gold recoveries of 73%,
using only a gravity separation method, which can be increased to 96% through
cyanide leaching of the tailings (at P80 at 150 µm). Direct cyanide leaching resulted
in 79% gold recovery (P100 at 2 mm).
RBM recommends:

To proceed with exploration activities to define the limits of the mineralized system
and to better determine the mineralization controls and grade variability at the
Castelo de Sonhos gold deposit.

To test magnetometry as a tool for locating and detailing of mineralization zones,
since the presence of hematite seems to bring close relationship with mineralization.

To increase the usage of directional deviation and density measurements, to
increase the quality of the modelling. Additional quality control samples should also
be beneficial for the quality of the assay data.

To perform tests using bulk samples, to reduce the chance of underestimation of
grade, due to the effect of coarse gold.

After better definition of the mineralization limits and the grade characteristics of the
ore, TriStar should undertake a preliminary economic analysis, in order to advance
the project to production status.
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2
INTRODUCTION
TriStar Gold Inc. (TriStar or TSG) engaged RBM Consultoria Mineral Ltda (RBM) to prepare
a NI 43-101 compliant technical report for its Castelo de Sonhos Gold project (CDS Project),
in Pará State, Brazil. The purpose of this Technical Report is to document exploration
progress on the Property since 2011, when TriStar commenced activities at the area, to
present the methodology used for the initial mineral resource estimate, and to support the
public disclosure of mineral resources at the Property in a News Release dated August 18th,
2014.
The scope of work consisted of: audit the database; check the data quality; to build a
resource model; to define a conceptual pit under reasonable economic assumptions; to
categorize and report the updated mineral resources of the project.
Most information was supplied by TriStar, consisting of several electronic documents and
maps. The author of this report is Rodrigo Mello, FAusIMM, who is a Qualified Person, as
defined in the NI 43-101. He is a geologist with 28 years of industry experience, with relevant
exposure to gold deposits in terrains similar to the ones found at the Castelo de Sonhos
Project. His work experience includes 15 years as exploration geologist and project
manager, working in archean, proterozoic, and tertiary environments, 13 years as a mineral
resource analyst working in the evaluation of gold, copper, zinc, nickel and silver deposits in
nine different countries. In the Tapajós province, he has acted as Qualified Person in
technical reports for Brazauro Gold (Tocantinzinho project) and Serabi Gold (Palito mine).
He has visited the property from November 27th to 28th, 2010.
The effective date of this report is August 27th, 2014, when the last relevant information was
received, related to the three years permit extension received by TriStar for three areas, two
of which host part of the mineral resources disclosed in this report. TriStar announced the
final results of the drilling campaign in July 9th, 2014, and informed that no further drilling was
undertaken in Castelo de Sonhos since that date.
3
RELIANCE ON OTHER EXPERTS
The results and opinions expressed in this report are based on RBMs field observations,
laboratory certificates, TriStar´s field logs, reports and maps, complemented by the
geological and technical data listed in the References (Section 21). This report relies on the
work of the TriStar team, especially geologists Elton Pereira, Fabio Mozzer, Luana Panis
and technician Gabrielly Cavalcante. TriStar consultants also contributing to this work are
Zander Castro, mineral rights expert, and Walter de Moura, Metallurgist.
The author has not reviewed any legal issues regarding the land tenure and licensing status
nor independently verified the ownership of the Property, except for checking the public
system of information regarding mining properties, maintained by DNPM (acronym for
Departamento Nacional de Produção Mineral) Brazil´s mining authority.
The results and opinions expressed in this report are made in reliance upon the
aforementioned geological, costing, and legal information being current, accurate, and
complete as of the date of this report, and the understanding that no information has been
withheld that would affect the conclusions made herein.
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4
4.1
PROPERTY DESCRIPTION AND LOCATION
Location
The Castelo de Sonhos project lies in the southwestern part of the Amazon region, in the
southwest of the state of Pará, Brazil. The area is centered approximately at coordinates
8°12’07’’ South, 54°59’20’’ West, geographic coordinates.
The property is located 18 km, straight line, or 30 km, by road, northeast of the village of
Castelo de Sonhos, a district of the municipality of Altamira, Pará State. Castelo de Sonhos
Project is on the border of the gold mining province of Tapajós, a region rich in gold
deposits.
Figure 1: Property Location
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Pará state is a mining friendly jurisdiction, with a significant portion of the state GDP
resulting from mining activities, especially from the Carajás Province, dominated by the
mining giant Vale. The property is 45 km away from the nearest protected area, the
Jamanxim National Forest.
4.2
Land Tenure and Mining Rights
The Castelo de Sonhos Project comprises an area of 31,032 ha represented by six claims,
as summarized in Table 2 and can be seen in Figure 2. All claims are embedded in the
municipality of Altamira/PA.
As a quick introduction to the Brazilian current regulation for mineral rights, the following
steps are necessary to secure the right of mining:
1 - The person (individual or entity) makes an application for the right to explore at the
National Department of Mineral Production (DNPM). If the area has no previous applicant,
the priority would be granted to this person or entity.
2 - After review of the application, DNPM may grant an exploration permit with a validity
period of 3 years, during which the works of mineral exploration should be undertaken.
3 – Before the end of this three year period, an exploration report must be submitted to the
DNPM, whether positive (if mineralization with economic value has been found) or negative
(no success was obtained in the work). Alternatively, at the end of this first 3 year term, the
applicant can present a Partial Exploration Report, with a request for an extension of term for
a further period of no more than three years. At the end of this extended term (if accepted) a
Final Exploration Report (positive or negative) must be submitted.
4 - When a positive Final Exploration Report is approved by DNPM, the applicant (corporate
only) has a one-year term to File a Plan of Economic Exploitation (PAE) detailing the mining
project technically and economically, including the implementation plan. This period may be
extended through a request to the DNPM.
5 - After approval of the PAE, a mining concession is granted by the Minister of Mines and
Energy. In six months the company must start the implementation plan, unless otherwise
authorized by the DNPM. There is no expiry date for the concession. The mining concession
is conditional upon obtaining the necessary environmental permits for the project.
The following details can be informed about the claims:

All claims, except for the process 850193/1989 (detailed further below) are owned by
Mineração Castelo dos Sonhos (MCS). TriStar informed RBM that it possesses
100% of this company, subject to the terms explained in the topic 4.4;

Although RBM reckons that TriStar has reasons to expect priority rights over these
six processes, for three processes DNPM still needs to confirm this expectation, by
approving the final report submitted for the process 850.329/2002; by granting the
Permit for the area 850193/1989; and by accepting the appeal for the area
850.986/2007, as detailed below.

The process 850.329/2002 is the most important claim, host of the majority of the
Esperança South and Esperança Center orebodies. TriStar submitted a final positive
exploration report on July 31st 2014, before the expiration of the license term.
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
The process 850.784/2009 hosts part of the Esperança South orebody, at its
southern extension and the process 850.310/2011 hosts part of the Esperança
Center orebody, at its northern extension. Both received an extension period of three
years on August 27th 2014.

The process 850.309/2011 has minor importance, but contains a gold anomaly in soil
and the presence of conglomerate. It has also received a three year extension on
August 27th 2014.

The process 850.986/2007 has neither gold anomaly nor conglomerate layers
mapped. An extension period request was denied by the DNPM but an appeal has
been duly submitted, which may result in reconsideration and extension of the
exploration permit.

The process 850193/1989 is an old expired process which was put in public tender
(Disponibilidade), in which Osisko Mineração (of which the Mineração Castelo de
Sonhos, is the successor) was the sole proposer. This is equivalent to a new
Exploration Permit Request, giving MCS a priority for the area. A new Exploration
Permit number should be issued by DNPM together with the new Exploration Permit.
Table 2: Mining Properties in the Castelo de Sonhos Project
Claim DNPM Nº Type Area (ha) Current Situation Expiration date 850193/1989 Exploration Permit Request 10,000 Awaiting the Exploration Permit N.A. 850329/2002 Exploration Permit 6,025 Final report ‐ Positive N.A. 850986/2007 Exploration Permit 3,042 Extension denied ‐ appeal N.A. 850784/2009 Exploration Permit 9,965 3 Years Extension granted 27/08/2017 850309/2011 Exploration Permit 1,000 3 Years Extension granted 27/08/2017 850310/2011 Exploration Permit 1,000 3 Years Extension granted 27/08/2017 N.A.: Not aplicable
No environmental liability has been incurred on the property, due to the low impact caused
by the exploration activities. TriStar submitted to the State Environmental Authority (SEMA)
an Environment Control Report (RCA). RBM was informed that, for the activities proposed in
this report, basically related to the continuation of core drilling, a permit is not required.
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Figure 2: Mineral Rights Location
4.3
Surface Rights
Surface rights, in the whole property, belong to the Brazilian Federal Government. However,
three individuals consider themselves entitled to surface rights in the area. TriStar made
separate contracts with them. Two of these contracts are still valid, allowing full access to
the targets Esperança South and Center. A monthly rental is paid for this access and for the
usage of the land (including the field camp), totaling US$ 2,200/month at the effective date of
this report. The third owner sits over a low potential zone; therefore the agreement with him
was discontinued.
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4.4
Property Encumbrances
TriStar still has to pay to the property owner, Mr. João Américo França Vieira, US$100,000
in September 2014, US$ 100,000 in January 2015 and US$ 1,500,000 in July 2015.
The property owner will retain a 2% NSR royalty, half of which can be purchased by TriStar
at any time for a range of values based on the gold reserves (proved + probable) found:

< 2 million oz. → US$ 5 M

2-3 million oz. → US$ 6 M

3-4 million oz. → US$ 7 M

4 million oz.
→ US$ 8 M
Should a gold deposit with proven and probable reserves larger than 1 million ounces be
identified, the owner will receive an additional US$1 for each troy ounce.
In addition, TriStar has agreed to pay US$ 3,600,000 out of production from the property
over and above its royalty. At its option, TriStar may pay to the vendor US$ 1,500,000 on or
prior to making a construction decision in lieu of the payment out of production.
Minimum exploration expenditure committed initially, for US$ 4,000,000, has already been
met. Cash payments already made to the owner total US$ 925,000. TriStar shares issued to
the vendor are in total of 2 million, valued as US$ 301,496. Total paid on property acquisition
at the effective date of this report: US$ 1,226,493.
5
5.1
ACCESSIBILITY, CLIMATE,
PHYSIOGRAPHY
LOCAL
RESOURCES,
INFRASTRUCTURE
AND
Site Access
The easiest way to reach the project is by small airplanes, departing from cities with regular
flights of commercial airlines, like Alta Floresta (50 min flight) or Novo Progresso (30 min
flight). The field camp has a 550 m long airstrip.
By land, the access is made by a federal road, the BR-163, which crosses the country in the
North-South direction, for 3,467 km. The village of Castelo de Sonhos (population 10,000) is
situated at the margin of this road. This village lies at 150 km south of the city of Novo
Progresso (Pará state) and 210 km north of the city of Guarantã do Norte (Mato Grosso
state), along the road BR-163 which is the sole road access.
From Castelo de Sonhos village, the access to the project is made by dirt roads, totaling 30
km of extension. Road access to the project is possible year-round.
5.2
Site Physiography
The topography at the region is characterized by low plains, at the margins of Rio Curuá and
its tributaries, with average elevation around 250 m a.s.l., in contrast with the plateau which
hosts the mineralization, which normally has average height of 550 m a.s.l., representing a
height difference of 300 m above the neighboring plains. The plateau was formed by higher
resistance to erosion of the arenites and conglomerates of the Castelo de Sonhos
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Formation, which also form long hills at the Southeast of the property. The sediments in the
creeks which drain this plateau were intensely mined by artisanal miners until the 1990´s,
which is still noted nowadays by their pits and dumps in the valleys.
The Climate, using the Köppen classification, is the Tropical Monsoon type, with average
annual precipitation around 2,000 mm. The rainy season goes from December to May.
Vegetation at the plateau is subdued by the rocky soil, being of the type Savanah, except
near the drainages, where taller trees are common. At the plains, away from this plateau,
vegetation is the typical amazon rain forest, severely deforested for cattle ranching.
Figure 3: Landscape over the Castelo de Sonhos plateau
The Figure 4 presents a picture of the local physiography on a Landsat image. The property
limits are disposed over the plateau formed by the arenites and conglomerates of the
Castelo de Sonhos Fm. The disturbances caused by garimpeiro activity are evident, showing
the radial pattern that indicates the plateau as the source of the gold.
Figure 4: Property position in relation to the plateau formed by the Castelo de Sonhos Fm.
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5.3
Infrastructure
The Castelo de Sonhos village is provided with bank, telephone, mail, health services,
police, supermarkets and hotels. For additional services, the city of Novo Progresso, 150 km
north of Castelo de Sonhos, is the regional center. The local economy is today centered on
agriculture, mainly livestock, with an estimate bovine population of 240,000. Other economic
activities are artisanal gold mining and logging, which were important in the past but are not
so important anymore,
The Cuiabá-Santarém Highway BR-163 is being paved from the city of Santarém to the
border with the Mato Grosso state. From this border to the Castelo de Sonhos village the
asphalting is complete, allowing year-round access. From Castelo de Sonhos to the field
camp, a dirt road of 30 km extension is used. In the rainy season this access is more
difficult, but still possible.
Power is sourced by a power line of 138 kVA, disposed along the BR-163, bringing power
from three small hydroelectric plants (total 55 MW) at the Curuá and Três de Maio rivers.
Figure 5: Photographs with views of the field camp and the core shed.
6
HISTORY
Castelo de Sonhos is at the Southeast limit of the Tapajós Gold Province region, a region
famous for hosting the largest gold rush in Brazil´s history. From the decade of 1960 to the
mid-1990s, the region was taken by over 100,000 to 200,000 garimpeiros (artisanal miners),
who mined a total gold production estimated between 16 and 30 million ounces of gold, from
several “garimpos” spread over a vast region of the Southwest of the Pará state (source:
www.geologo.com)
Castelo de Sonhos was one of these garimpos, with a total production estimated as three
hundred thousand ounces of gold (estimate based on weak evidence), extracted from
various creeks draining a large mountain with a flat top, the Castelo de Sonhos plateau.
During these years, especially from 1987 to 1991, the region was scene of violence and
banditry. This period ended with a reaction by the police and due to the then low price of
gold. Only a few garimpos survived this period of depressed gold prices.
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At the decade of 1990´s, big international companies arrived at the region. Rio Tinto, Barrick,
Homestake, Placer Dome and others claimed areas and started modern exploration at the
province. Barrick, through remote sensing analysis, was attracted by the radial pattern in
which the drainages affected by the garimpos were distributed around the plateau dominated
by the sediments of the Castelo de Sonhos formation. The initial exploration model used by
Barrick was of an intrusive hosted gold deposit of low grade / high tonnage. After reaching
an agreement with the area owners, Barrick undertook an aggressive program of
exploration, as detailed in the item 9.1. However, the results of the 23 diamond holes drilled
did not satisfy Barrick senior management, who decide to not exercise its option. The project
was discontinued, and the property was given back to its owners with all information
obtained.
In 2004, another company signed an option for the property, Osisko Mining Co, who created
a local subsidiary, Osisko Brasil Mineração Ltda, which received the title for the areas.
During five years Osisko kept the contracted payments, without initiating any exploration. In
2009 Osisko finally gave up the property, transferring the control of Osisko Brasil Mineração
to the property owner, and left the country.
In October 2010, TriStar Mineração do Brasil Ltda, a 100% subsidiary of the junior company
TriStar Gold Inc., listed on the TSX Venture Exchange, signed an option contract with the
owner of Osisko Brasil Mineração, Mr. João Américo França Vieira, with terms as detailed in
the item 4.4. TriStar assumed the control of Osisko Brasil Mineração, changing the
company´s name to Mineração Castelo dos Sonhos Ltda. This company is the title holder of
five of the six DNPM processes which compose the property, and has a declaration of
priority for the sixth area, as detailed in the item 4.2.
TriStar Gold Inc. was created in August 2010 by the former management of Brazauro
Resources Corp, a then TSX Venture Exchange listed company who discovered the
Tocantinzinho deposit, the largest gold deposit found in the Tapajós province. Some more
details about this success history: based on the results of geochemical soil sampling,
Brazauro undertook a drilling program with a total of 25,635 m on 97 holes. Eldorado Gold
Corp. took over Brazauro in July 2008 and drilled a further 62 drillholes for 19,431 m and
defined reserves (PP) of two million ounces of gold. Eldorado submitted an Environmental
Impact assessment in July 2011 and received the Preliminary Environmental License in
September 2012 for the Tocantinzinho mine. At the effective date of this report, the access
road to the project was under construction.
TriStar initiated exploration activities at Castelo de Sonhos in February 2011, by investing in
the project infrastructure: constructing a field camp and restoring the airstrip and access
roads. It then commissioned Fugro for an airborne geophysical survey, totaling 7,019 km of
flight lines for gamma and mag survey. The soil geochemistry grid done covered most of the
areas and was followed by geological mapping. The drilling totaled 143 core drill holes, for
16,230 m, executed in three different campaigns. This work resulted in the relinquishment of
most of the original property. 49,328 hectares in six areas were considered of low potential
and returned to DNPM. The work made also possible the preparation of positive partial
reports for three important areas, which resulted in the approval of a three year permit
extension, and a robust final report for the key area of the property (850329/2002), a
necessary step to require the right to mine. And finally, the work allowed the estimate of the
mineral resources herewith reported.
The values spent by TriStar in the property, to July 31st 2014, are summarized in the
following table.
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Table 3: Values spent in the Castelo de Sonhos property as at July 31st 2014
Item Acquisition Cost Drilling Geological Assays Field expenses Total 7
7.1
US$ 1,226,493 3,400,740 803,156 540,315 4,447,769 10,418,473 GEOLOGIC SETTING
Regional Geology
The mineralization is located within the Castelo de Sonhos Formation, which forms a
restricted sedimentary unit in the stratigraphy of the Amazon Craton. It occurs in the limit
between two provinces of this craton: the Central Amazon Province and the Tapajós-Parima
Province. The ages of formation for these two provinces are 1,900-1,860 Ma for the former
and 2,030-1,860 Ma for the latter. The Central Amazon Province, or more specifically the
Iriri-Xingu domain, where the Castelo de Sonhos Formation is located, is formed by a
predominance of volcanic and plutonic rocks, with minor occurrence of sediments. The
Tapajós domain of the Tapajós-Parima Province, which forms the west and north contacts of
the Castelo de Sonhos Formation, is formed by a predominance of plutonic rocks, principally
milonitized granitoids, alkaline or calci-alkaline granites.
The Castelo de Sonhos Formation is formed by a sedimentary package with meta-arenite
and metaconglomerate layers. Note: In this report, the prefix meta may be omitted for
simplicity sake (example: conglomerate, instead of metaconglomerate), but the whole
package has been submitted to low grade metamorphic facies and locally to contact
metamorphism, as result of the granitic intrusion events that affected the area.
This formation has been dated by U-Pb/Shrimp as having a minimum age of 2.083 Ma. It
unconformably overlies a suite of intrusive granites, which also represent the external
contacts of the Castelo de Sonhos Formation at the plateau which constitutes the main
target of this project. These granites belong to the Creporizão and Maloquinha suites, of the
Tapajós domain. They have been dated as 1.9 Ga and are clearly younger than the
sediments of the Castelo de Sonhos Formation, given the absence of granite clasts in the
conglomerates and also because the granite intrusions cut the bedding of the arenites and
conglomerates. The granitic intrusion is the most likely source and engine of the
hydrothermal fluids which affected the Castelo de Sonhos Formation.
The Figure 6 represents the regional geology map of the project.
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Figure 6: Regional geology map
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7.2
District and Property Geology
The arenites and conglomerates of the Castelo de Sonhos Formation form a large plateau
almost totally contained within the CDS property, of around 340 km2 of area. Another
mountain 20 km south of the property is also considered part of this formation but lies
outside the property. Both occurrences are interpreted as the remains of a much larger
sedimentary basin of Paleo Proterozoic age.
As commented in the previous item, the basement for the whole plateau is formed by
granites, emplaced at least 100 million years after the end of the Castelo de Sonhos
Formation deposition. This formation is characterized by lower intensity metamorphism and
predominance of coarse grained, immature sedimentary units which, from oldest to
youngest, are:
 Base arenite series (200-300 m): Medium to coarse grained arenite, locally with
pebbles, with few structures. No significant mineralization.


Conglomerate series (200-300m): Conglomeratic arenite and poorly sorted
conglomerate with clasts generally composed of quartz, with subordinate clasts of
arenite, iron formation and volcanics (rarely). It hosts the significant gold
mineralization.
Top arenite series (200-400 m): Medium to coarse grained arenite, locally with
pebbles, with few structures. No significant mineralization.
Within the conglomerate series, a quick lateral and vertical facies variation has been
recognized. No reef cycle has been individualized so far in this unit, but the progress of
mapping and drilling should result in better understanding of the reef formation cycle,
allowing the individualization of reefs, that will be important for the understanding of the
mineralization controls.
The conglomerate series is constituted by the following variations:

mC1: Conglomerate supported by clasts.

mC2: Conglomerate supported by matrix.

mAC: Conglomeratic arenite

mC3: Microconglomerate.
The Castelo de Sonhos Formation can be interpreted as proximal and distal deposits,
depending if composed of conglomerates or arenites, of an alluvial complex dominated by a
braided river system. The succession of two packages of arenites with an intermediate unit
of conglomerates should reflect an advance and a retreat of the alluvial system, probably
triggered by an event of uplift of the source area.
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Fig.5: Stratigraphic column of the Castelo de
Sonhos Formation
mA: Arenite
mC: Conglomerate
mAC: Conglomeratic Arenite
mC1: Conglomerate supported by clasts
mC2: Conglomerate supported by matrix
The conglomerate series is arranged in a synformal structure with axis dipping 15-20
degrees to SW. The southern flank of this syncline has attitude NE-SW, dipping 30 to 35
degrees NW. The east flank and central section strike in a NS direction with dips 30-35
degrees to the west. The north/northwest section of this syncline strikes NE-SW with dips
60-80 degrees to the SE. The result of this geometry is that the surface expression of the
conglomerate layers has roughly the shape of a horseshoe.
This syncline was affected by set of strike-slip faults, responsible for a dislocation, in the NE
direction, of an entire block of metaconglomerates, which TriStar identified as the Esperança
East target.
The existence of mylonites indicates that the Castelo de Sonhos Formation was positioned,
at some point in its geological history, at depths of at least 10-15 km in the crust, which is the
transition zone between the occurrence of brittle and ductile deformation.
Figure 8 depicts the local geology map. The red line AB shows the position of the geological
profile, Figure 9.
Figure 7: Photographs of conglomerate supported by clasts (left) and by matrix (right)
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Figure 8: Local Geology map
Figure 9: Vertical geologic profile along section A-B
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7.3
Mineralization
Both gold mineralization and the soil geochemical anomalies occur exclusively associated
with the metaconglomerates packages that reach up to 200 to 300 meters in true thickness.
This association is best demonstrated by the comparison of the conglomerate outline with
gold anomaly in soil, as depicted in the map in the Figure 10.
The salient features of primary gold mineralization of Castelo de Sonhos are its association
with metaconglomerates, with intense silicification and hematitization. Of course, the
presence of conglomerates, silicification and hematitization is not always related to gold
mineralization. However, the presence of these features increases remarkably the prospects
of finding mineralization.
Even in high grade intervals, visual separation between mineralized and barren rocks is not
possible, except in presence of visual gold. Gold occurs freely in sub-millimetric grains in the
metaconglomerate matrix and also as thin films on fracture and foliation planes, in this case,
accompanied by films of hematite. It is quite common to see visible gold in any of these
cases.
Figure 10: Map with the conglomerate unit and the gold anomaly in soil
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8
DEPOSIT TYPE
Due to its characteristics, form of occurrence, tectonic ambience and ages of gold
mineralization Castelo de Sonhos can be classified as conglomerate-hosted gold deposit
type, like Jacobina (Brazil), Tarkwa (Ghana) and Witwatersrand (South Africa).
The following table summarizes the similarities (and differences) among the correlate
deposits mentioned above.
Table 4: Comparison between Castelo de Sonhos and peer deposits
Witwatersrand Tarkwa
Jacobina Castelo de Sonhos
Age (Ga)
2,5-2,7
2,0-2,1
2,0
2,1
Conglomerate hosted
Yes
Yes
Yes
Yes
Silicification
Yes
Yes
Yes
Yes
Hematite
No
Yes
Yes
Yes
Pyrite
Yes
No
Yes
No
Uranium
Yes
No
Yes
No
Magnetite
No
Yes
No
Yes
Mineralization thickness
.
0,1 to 3 m
Up to 8 m 1 to 10 m 1 to 20 m
The similarities between the characteristics of the mineralization at Castelo de Sonhos ,
Tarkwa and Jacobina are evident. Common characteristics are: all deposits have a minimum
age of 2 Ga; conglomerate hosted; silicification as the main hydrothermal process, which is
accompanied by hematitization in Tarkwa, Jacobina and Castelo de Sonhos. As in Tarkwa
(Arthur, 2004), Castelo de Sonhos has no occurrence of uranium and pyrite, and has
magnetite as accessory mineral present, mainly in ironstones.
Like these other deposits, in Castelo de Sonhos, the genesis of the gold mineralization is not
clear: or purely detrital (placer) or purely hydrothermal in origin. And yet, the genesis can be
mixed, where gold of detrital origin is later remobilized and concentrated by hydrothermal
processes.
At Castelo de Sonhos, there are elements that support both detrital and hydrothermal origin
for the gold mineralization and even a hybrid model between them. Although mineralization
always occurs within a package of conglomerates, it can also occur within arenite layers
contained in the conglomerate unit. Moreover, the occurrence of mineralization is
constrained by the simultaneous occurrence of silicification and hematitization which, in the
case of Castelo de Sonhos, seems clearly to be a result of hydrothermal processes. Still,
gold also occurs along fracture planes and foliation, which may be the result of processes
eventually superimposed to the primary detrital origin.
Therefore, the deposit type used in the exploration planning and interpretation is one where
gold is preferentially hosted in conglomerates, but may have been remobilized by
hydrothermal events, conditioned by the structural framework of the deposit.
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9
EXPLORATION
The Castelo de Sonhos (CDS) property has been explored by Barrick, from 1995 to 1996,
and by TriStar, from 2011 to the effective date of this Report, which is the first Technical
Report pursuant to the instructions of the National Instrument 43-101 for the property.
9.1
Previous Works
Barrick developed an aggressive program, from which TriStar was able to recover most
information. However, the lack of quality control records and of field markers for drilling
locations prevented TriStar to use this information, except for two holes, CSBG-2A and
CSBG-13, both with adequate records. They were re-sampled by TriStar, using the core
stored in a shed maintained by Barrick and its successors. Nonetheless, the available
information, for geochemistry, geophysics and geological mapping, was important to TriStar
in the work planning and in the interpretation of its own results.
Table 5: Summary of the exploration work developed by Barrick at the property
Units
Meters
Soil Samples
4.085
-
Rock samples
5.977
-
Stream sediment samples
695
-
Channel samples / trenches
2.775
5,778
Core drilling
23 holes
2,027
Tracks opened (for geochemistry/mapping)
-
143,820
Topography
-
110,570
Airborne geophysics (mag/gamma) 200 m spacing
-
750 Km2
9.2
Mapping and Geochemical Sampling
TriStar commenced exploration in 2011 with soil sampling, geological mapping and rock chip
sampling. In addition, various complementary studies on structure, lineament analysis,
satellite imagery and petrology were undertaken.
The soil geochemistry coverage has been completed on a systematic 100m x 50 m grid,
initially over the anomalies pointed out by the Barrick survey, and later over the
conglomerate domain. Less important zones are covered by lines separated by 400 m or
200 m, which may be filled in by additional lines, to 200 m or 100 m separation, depending
on the results, always with 50 m spacing between samples, within the lines.
A total of 7529 soil samples was taken, which were analyzed for gold, together with 5% of
quality control samples. Lines are oriented along the West-East direction. Soil samples were
collected in the “A” horizon, given the poor soil development over the arenite/conglomerate
plateau.
The results were considered excellent. Besides confirming and enhancing the anomalies
defined by Barrick, allowing a better definition of the two targets (Esperança South and
Esperança Center) discovered by that company, two other targets were identified:
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Esperança East and Esperança West. In total, the gold anomaly with over 50 ppb Au can be
traced along 16 linear km of surface expression.
The geological mapping of the tracks revealed a consistent unit of metaconglomerates, with
surface expression in the order of hundreds of meters across strike, disposed in a horse
shoe format, as result of a gentle folding system, subsequently affected by faulting, as
explained in the chapter of local geology.
With the results of the soil geochemistry, the coincidence between the gold anomaly and the
conglomerate unit became evident. TriStar is still working in a more detailed geological map,
dividing the unit in at least three litho-types: conglomerate supported by clasts and
supported by matrix, and arenite layers within the conglomerate. This should help in the
efforts to understand the mineralization control.
Rock chips samples and channel samples were taken sporadically (79 and 72 samples,
respectively) as a tool to complement mapping.
9.3
Geophysical Surveys
The company Fugro-Lasa S.A., of Rio de Janeiro, was contracted to conduct an airborne
geophysical survey covering all areas of the block of Castelo de Sonhos Project. The survey
extended over 7,019 kilometers of flight lines oriented North-South and flight altitude of 100
meters above the ground. The methods used were magnetometry and gamma spectrometry.
Two blocks of flight were defined for the aerial survey. The principal, named Block 1,
comprises the entire plateau of Castelo de Sonhos and in this, the flight lines were spaced
100 meters, for better resolution, totaling 5228 km of flight lines. Block 2, located East of the
claims that compose the property at the effective date of this report, had flight lines spaced
at 200 meters interval and implemented over 1791 km. Most areas covered by this block
were considered of low potential and relinquished.
The data obtained enabled the generation of nine different maps, namely: Residual Magnetic
Field, Analytic Signal of the Residual Magnetic Field, 1st Vertical Derivative of the Residual
Magnetic Field, concentrations of Radiometric Channels Potassium, Uranium and Thorium,
Total Count, Ternary Radiometric Channels and Distribution of Digital Terrain Model.
In general, the results of the geophysical aerial survey indicated no noticeable correlation
between the mineralized zones and any feature observed on the maps listed above.
Nevertheless, it is possible to observe that the plateaus composed of metasediments are
well marked, particularly in the maps Radiometric Total Count and Ternary Distribution
maps, especially the latter. Further processing of this information should be of value,
especially with the better understanding of mineralization, as a result of the drilling and
surface sampling.
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Figure 1
11: Magneto
ometry: Ana
alytic signal map
Figure 1
12: Gamma spectroscopy: Ternary
y map
Mineral Re
esources Estimation for the Ca
astelo de Sonho
os Project - Pará
á State - Brazil
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old Inc.
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9.4
Interpretation
The exploration program conducted by TriStar is appropriate for a gold deposit occurring in a
relatively wide structure. The geophysical surveys were used to identify structural trends and
to refine the geological interpretation of the area, but did not highlight the mineralization.
The mapping revealed a relatively simple geological framework, with a clear correlation
between the conglomerate unit and the gold anomaly. However, additional studies are
required for better understanding of the faulting system and the lithological and hydrothermal
controls which may help in the interpretation of the mineralized units.
10 DRILLING
10.1 Introduction
Three core drilling campaigns have been carried out at Castelo de Sonhos by TriStar, all of
them drilled by the contractor Layne do Brasil (Layne), from 2011 to 2014. Previously,
Barrick has drilled 2,027 m of core drilling in 23 drill holes, but this information was not used
in the resource evaluation, except for two holes re-sampled by TriStar, which totaled 443 m.
TriStar carried out its first exploratory drilling program on the property between August 2011
and February 2012, with 33 holes, 18 of them at the Esperança South target and 15 at the
Esperança Center target; the program totaled 5662 meters.
A second drilling campaign was carried out from July to November 2012, totaling 6,440
meters in 60 holes. Besides infill and step out drilling at the targets Esperança South and
Center, this campaign also included 7 scout holes at Esperança Center and East.
From April 2014 to June 2014, the third drilling program took place in the property, focused
on the evaluation of the Esperança South target. This campaign consisted of 51 holes,
totaling 4110 m drilling.
The drilling database, used for this resource evaluation, consists of 146 holes, with 16,656
m. Drilling usually intercept the mineralization at angles close to 90°, following a plan that
depends on the mineralization attitude. Since the dip of the mineralized beds is on average
30° to 35°, the drilling was planned at angles of 55° to 60° in direction opposite to the dip of
the beds, in such a way that the relationship between apparent and true thickness is
expected to approach 100%.
Figure 13: Photographs of drilling and sampling activities at the Project
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Figure 14: Drilling location
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10.2 Drilling Methodology
Layne, a reputed international drilling contractor, operated under supervision of TriStar
technicians, using standard diamond drilling equipment and procedures. Most drilling was
carried out using HQ diameter (63 mm), since this drilling carried out to date is considered
shallow, with average total length of 114 m. For depths beyond 80 to 100 m, the diameter
NQ (47 mm) was used.
TriStar received the core boxes from Layne dully marked with drill hole identification number
and the depth.
Deflection measurement was performed by Layne, in 37% of the drilling, using Ezershot and
Maxibohr technologies. For shorter holes, predominantly drilled with HQ diameter, TriStar
did not find necessary to execute the measurement, considering that the deviation would be
minor.
Following completion, each hole was marked in the field by concrete markers duly labeled
with the number of the drill hole.
The topographic survey of the hole collar was performed by a professional surveyor,
Geosan, with a precision GPS (L1/L1 Pro Mark AshTec) with 1 cm accuracy. The
surveyor provides a digital backup of measurements and a duly signed certificate.
10.3 Logging
Once the boxes reached the core shed, they are reviewed and organized. Technicians
checked the lengths and core recovery records by the contractor. Core was marked for
sawing at this time.
TriStar exploration staff logs the drill core at the field camp in the project. Logging includes
items such as lithology, alteration, veining description and sulphide content. Sample intervals
are marked by the geologists, with average sample length of 1.76 m.
Geotechnical logging was performed for the initial 27 holes from the first campaign, with
logging of rock quality designation (RQD) and fracture frequency. The data is captured in
paper logs, which are later transferred to laptop computers using manual entry, onto
Microsoft Excel spreadsheets. Once the work of geologists is completed, the core boxes are
photographed.
Finally, TriStar cuts the cores using an electrical diamond saw, for sampling. The core is cut
and sampled according to marks made by the geologist. Core is stored in core sheds at the
Project exploration camp.
10.4 Details of Drilling by Area
10.4.1 Esperança South
10,009 m of core drilling, in 105 holes have been completed in this area. Esperança South is
the best mineralized sector known in the project area, both by the extension of the
mineralized bodies defined and by the intensity of mineralization in some areas. The
mineralization there is hosted in a metaconglomerate beds dipping west at 30°-35°, and has
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thickness ranging from 2 to 20 m. An exceptional mineralized interval of 29.3 m, in the hole
CSH-104, is interpreted as the coalescence of two mineralized beds, based on the results of
neighboring holes.
At the Esperança South target, the drilling fences were oriented NW-SE in the southern
portion of the target and EW in the northern portion of the target since the mineralized
conglomerate and geochemical anomalies strike NE-SW in the southern portion and NS in
the northern portion.
The southern mineralized zone in this target was detected along 28 consecutive drilling
fences, separated by approximately 50 meters each, representing 1,500 m of strike length.
Drill holes are usually separated by 50 meters in each individual fence. This zone is open
along strike, to the south, and along dip.
The northern zone is investigated by 19 drilling fences, separated by 50 to 400 meters.
Three mineralized segments of approximately 250 meters each were identified so far in this
zone, which may be resulting from the lower drilling density at this body. It is open to the
North and along dip.
The total length of the mineralized zone identified in the Esperança South target amounts to
2.25 km on surface. It has been traced to a maximum of 250 meters along dip, representing
close to 100 meters of depth.
Drilling details at Esperança Center are listed in the Appendix A and most significant
intercepts are listed in the Table 6.
Table 6: Most significant intercepts for Esperança South target
Hole ID
CSH‐03 CSH‐05 CSH‐08 CSH‐09 CSH‐11 CSH‐14 CSH‐16 CSH‐18 CSH‐21 CSH‐24 CSH‐30 CSH‐31 Including Interval and gold grade
8,00 m @ 2,15 g/t 2,00 m @ 1,01 gt/ 2,00 m @ 1,32 g/t 1,00 m @ 2,05 g/t 2,00 m @ 1,03 g/t 4,00 m @ 1,27 g/t 6,00 m @ 1,94 g/t 2,00 m @ 1,03 g/t 6,00 m @ 1,07 g/t 4,00 m @ 1,16 g/t 4,00 m @ 10,14 g/t 2,00 m @ 2,39 g/t 2,00 m @ 11,17 g/t 2,00 m @ 2,65 g/t 1,75 m @ 1,79 g/t 12,50 m @ 1,05 g/t 2,00 m @ 2,41 g/t 15,00 m @ 1,83 g/t 2,00 m @ 1,22 g/t 2,00 m @ 1,44 g/t 11,00 m @ 4,62 g/t 4,70 m @ 8,43 g/t From (m)
76,00 87,00 45,00 61,00 133,00 182,00 28,00 56,00 86,00 67,00 47,00 66,00 50,00 111,00 79,00 35,50 26,00 42,00 25,00 51,00 76,00 82,30 Mineral Resources Estimation for the Castelo de Sonhos Project - Pará State - Brazil
TriStar Gold Inc.
To (m)
84,00 89,00 47,00 62,00 135,00 186,00 34,00 58,00 92,00 71,00 51,00 68,00 52,00 113,00 80,75 48,00 28,00 57,00 27,00 53,00 87,00 87,00 Page 32
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Hole ID
CSH‐32 CSH‐35 CSH‐36 CSH‐37 CSH‐39 CSH‐40 Including CSH‐41 CSH‐42 CSH‐43 CSH‐47 Including CSH‐49 CSH‐50 CSH‐51 CSH‐53 CSH‐54 CSH‐57 CSH‐58 CSH‐59 CSH‐78 CSH‐80 CSH‐81 CSH‐86 CSH‐87 CSH‐95 CSH‐96 CSH‐97 CSH‐99 CSH‐100 CSH‐101 CSH‐102 CSH‐103 Interval and gold grade
2,15 m @ 7,36 g/t 2,80 m @ 11,21 g/t 2,00 m @ 2,98 g/t 12,00 m @ 1,18 g/t 4,00 m @ 2,36 g/t 2,00 m @ 3,36 g/t 2,00 m @ 1,24 g/t 2,00 m @ 1,13 g/t 20,00 m @ 2,86 g/t 4,00 m @ 6,19 g/t 6,00 m @ 4,74 g/t 3,20 m @ 4,46 g/t 2,00 m @ 1,54 g/t 2,00 m @ 1,06 g/t 11,50 m @ 1,60 g/t 2,00 m @ 1,99 g/t 4,00 m @ 4,44 g/t 2,00 m @ 8,34 g/t 2,00 m @ 2,60 g/t 1,90 m @ 2,87 g/t 2,00 m @ 1,01 g/t 2,00 m @ 0,77 g/t 2,00 m @ 1,74 g/t 3,50 m @ 0,96 g/t 2,00 m @ 0,96 g/t 2,00 m @ 3,78 g/t 8,00 m @ 1,02 g/t 4,00 m @ 1,27 g/t 2,00 m @ 2,23 g/t 5,00 m @ 4,29 g/t 3,25 m @ 1,05 g/t 2,00 m @ 5,74 g/t 1,50 m @ 1,05 g/t 4,00 m @ 0,62 g/t 6,00 m @ 1,71 g/t 2,00 m @ 2,76 g/t 4,00 m @ 4,63 g/t 1,60 m @ 1,25 g/t 3,00 m @ 1,03 g/t 2,00 m @ 3,31 g/t 1,50 m @ 1,50 g/t 2,00 m @ 3,00 g/t 1,90 m @ 4,54 g/t 3,65 m @ 1,00 g/t 2,00 m @ 1,30 g/t 2,00 m @ 2,91 g/t 2,00 m @ 1,17 g/t 1,80 m @ 3,59 g/t 4,00 m @ 3,84 g/t From (m)
20,85 43,00 24,00 117,00 23,00 41,00 52,00 82,00 63,00 69,00 77,00 79,20 132,00 24,00 48,50 102,00 111,00 113,00 0,00 3,10 12,00 14,00 41,00 62,50 50,00 58,00 88,00 14,00 60,00 76,00 100,75 95,00 100,00 29,00 51,00 21,00 98,00 14,00 0,00 9,00 77,70 52,00 44,00 18,40 56,95 31,00 38,60 53,20 35,00 Mineral Resources Estimation for the Castelo de Sonhos Project - Pará State - Brazil
TriStar Gold Inc.
To (m)
23,00 45,80 26,00 129,00 27,00 43,00 54,00 84,00 83,00 73,00 83,00 82,40 134,00 26,00 60,00 104,00 115,00 115,00 2,00 5,00 14,00 16,00 43,00 66,00 52,00 60,00 96,00 18,00 62,00 81,00 104,00 97,00 101,50 33,00 57,00 23,00 102,00 15,60 3,00 11,00 79,20 (open) 54,00 45,90 22,05 58,95 33,00 40,60 55,00 39,00 Page 33
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Hole ID
CSH‐104 Including CSH‐107 CSH‐109 CSH‐110 CSH‐111 CSH‐112 CSH‐114 Including CSH‐115 CSH‐116 CSH‐118 Including CSH‐119 CSH‐121 CSH‐122 CSH‐127 Including CSH‐128 CSH‐130 CSH‐131 CSH‐132 CSH‐133 CSH‐135 CSH‐137 CSH‐138 CSH‐139 CSH‐141 Including CSH‐142 CSBG ‐2A Interval and gold grade
29,30 m @ 1,92 g/t 5,75 m @ 4,31 g/t 3,90 m @ 1,36 g/t 2,00 m @ 1,25 g/t 1,65 m @ 4,49 g/t 1,50 m @ 1,24 g/t 2,00 m @ 1,03 g/t 3,30 m @ 2,05 g/t 2,00 m @ 2,32 g/t 2,00 m @ 2,49 g/t 25,40 m @ 1,90 g/t 7,50 m @ 2,51 g/t 6,50 m @ 4,28 g/t 1,50 m @ 16,82 g/t 1,95 m @ 1,27 g/t 2,00 m @ 2,51 g/t 2,00 m @ 1,57 g/t 11,00 m @ 2,22 g/t 2,00 m @ 9,25 g/t 9,00 m @ 1,31 g/t 1,15 m @ 2,05 g/t 3,90 m @ 1,45 g/t 2,95 m @ 1,82 g/t 4,00 m @ 1,08 g/t 2,58 m @ 1,76 g/t 1,50 m @ 1,64 g/t 1,95 m @ 2,31 g/t 7,20 m @ 4,30 g/t 2,10 m @ 11,12 g/t 1,75 m @ 1,31 g/t 4,00 m @ 1,18 g/t 1,50 m @ 3,29 g/t 4,00 m @ 3,34 g/t 1,80 m @ 4,78 g/t 2,15 m @ 1,19 g/t 5,05 m @ 1,74 g/t 3,70 m @ 1,07 g/t 2,00 m @ 3,68 g/t 6,26 m @ 1,08 g/t 2,05 m @ 2,54 g/t 12,85 m @ 3,45 g/t 4,80 m @ 7,53 g/t 2,00 m @ 1,18 g/t 2,55 m @ 1,57 g/t 4,00 m @ 3,47 g/t From (m)
54,70 64,50 71,75 3,10 19,80 41,00 94,00 108,50 2,00 0,00 18,10 18,10 37,00 42,00 17,45 26,00 34,00 15,00 24,00 4,50 20,00 30,00 89,00 4,20 20,65 36,20 92,05 93,20 98,30 29,20 91,85 37,25 76,00 84,60 20,30 51,50 37,30 80,00 56,74 88,20 32,40 33,80 99,20 67,50 106,00 Mineral Resources Estimation for the Castelo de Sonhos Project - Pará State - Brazil
TriStar Gold Inc.
To (m)
84,00 70,25 75,65 5,10 21,45 42,50 96,00 111,80 4,00 2,00 43,50 25,60 43,50 43,50 19,40 28,00 36,00 26,00 26,00 13,50 21,15 33,90 91,95 (open) 8,20 23,23 37,70 94,00 100,40 100,40 30,95 95,85 38,75 80,00 86,40 22,45 56,55 41,00 82,00 63,00 90,25 45,25 38,60 101,20 70,05 110,00 Page 34
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Figure 15: Representative Geological Cross Section (looking north) - Esperança South
TriStar Gold Inc.
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Figure 16: Representative Geological Cross Section (looking north) - Esperança Center
TriStar Gold Inc.
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10.4.2 Esperança Center
Two phases of drilling have been carried out in this area, with a total of 5,667 meters in 34
holes. Separation between drilling fences are from 100 meters to 400 meters. Each fence is
formed by up to five holes, separated by 50 meters to 100 meters.
To date, Esperança Center is the second most important mineralized area in the property,
but it is much less drilled than the Esperança South area. The mineralization there is hosted
in a series of beds, dipping from 30º W to a horizontal attitude. The mineral body has been
defined along 800 meters of strike length and down to 130 meters depth, being open at
depth. Although the last fence lines at the extremity of the zone returned unattractive
mineralization, the possibility is not excluded that further step out drilling may show the
continuity of the mineralization. It can be assumed that the mineralization is also open along
strike, both to North and South.
Drilling details at Esperança Center are listed in the Appendix A and most significant
intercepts are listed in the Table 7.
Table 7: Most significant intercepts for Esperança Center area
Hole ID
CSH-01
CSH-02
CSH-04
CSH-06
CSH-19
CSH-23
CSH-25
CSH-56
CSH-60
CSH-61
CSH-62
CSH-64
CSH-65
CSH-66
CSH-70
CSH-71
Interval and gold grade
2,00 m @ 3,73 g/t
1,00 m @ 2,34 g/t
1,00 m @ 10,62 g/t
1,00 m @ 1,02 g/t
1,00 m @ 1,44 g/t
1,00 m @ 1,19 g/t
1,00 m @ 1,53 g/t
5,00 m @ 2,79 g/t
1,00 m @ 2,55 g/t
1,00 m @ 4,69 g/t
2,00 m @ 1,16 g/t
6,00 m @ 1,28 g/t
2,00 m @ 1,28 g/t
2,00 m @ 1,75 g/t
2,00 m @ 1,00 g/t
2,00 m @ 1,35 g/t
5,00 m @ 2,47 g/t
2,00 m @ 1,45 g/t
2,00 m @ 5,60 g/t
2,00 m @ 0,74 g/t
2,00 m @ 0,96 g/t
4,00 m @ 4,86 g/t
2,00 m @ 0,74 g/t
6,00 m @ 6,60 g/t
2,00 m @ 1,42 g/t
2,00 m @ 1,16 g/t
2,00 m @ 1,38 g/t
2,00 m @ 1,09 g/t
2,00 m @ 1,62 g/t
11,00 m @ 0,58 g/t
2,00 m @ 1,50 g/t
2,00 m @ 1,52 g/t
From (m)
50,15
65,70
4,00
68,00
35,00
75,00
88,00
147,00
166,00
60,00
68,00
107,00
79,00
166,00
44,00
109,00
34,00
54,00
7,00
27,00
86,00
71,00
72,00
117,00
94,00
144,00
68,00
78,00
62,00
52,00
87,00
109,00
TriStar Gold Inc.
To (m)
52,15
66,70
5,00
69,00
36,00
76,00
89,00
152,00
167,00
61,00
70,00
113,00
81,00
168,00
46,00
111,00
39,00
56,00
9,00
29,00
88,00
75,00
74,00
123,00
96,00
146,00
70,00
80,00
64,00
63,00
89,00
111,00
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Hole ID
CSH-72
CSH-73
CSH-74
CSH-75
CSH-77
2,00 m @ 2,81 g/t
2,00 m @ 1,01 g/t
2,00 m @ 2,29 g/t
8,00 m @ 1,03 g/t
2,00 m @ 4,69 g/t
12,00 m @ 2,32 g/t
2,00 m @ 1,03 g/t
2,00 m @ 0,70 g/t
From (m)
76,00
106,00
173,00
183,00
53,00
120,00
30,00
42,00
To (m)
78,00
108,00
175,00
191,00
55,00
132,00
32,00
44,00
10.4.3 Esperança East
This target has been tested by 587 meters in 5 holes. Presently this area has been drilled in
a nonsystematic grid. Although mineralization has been detected, the geology there is still
poorly known. Apparently, the zone has been severely affected by faulting and granite
intrusions, that are not yet fully understood. For this reason, this mineralization has not been
included in the mineral resources base.
Drilling details at Esperança East are listed in the Appendix A and most significant intercepts
are listed in the Table 8.
Table 8: Most significant intercepts for Esperança East area
Hole ID
CSH-48
CSH-52
CSH-84
2,00 m @ 1,14 g/t
1,75 m @ 1,19 g/t
11,00 m @ 0,64 g/t
4,45 m @ 0,74 g/t
2,00 m @ 3,12 g/t
From (m)
117,00
123,00
117,00
63,00
89,00
To (m)
119,00
124,75
128,00
67,45
91,00
11 SAMPLE PREPARATION, ANALYSIS AND SECURITY
11.1 Surface Samples
TriStar soil samples were analyzed by Acme laboratory (sample preparation in Itaituba, Pará
state, and analysis in Santiago, Chile) and SGS/GEOSOL (preparation in Parauapebas,
Pará, and analysis at Vespasiano, Minas Gerais state). Previously, a study was made to
determine the best sieve size for sample preparation at Castelo de Sonhos. Based on the
best results obtained, in terms of contrast and higher results of gold, the 230# ASTM (0.063
mm) sieve was chosen. At both laboratories, this sieve was used to separate the coarse
fraction. Only the fine fraction was analyzed. Gold was assayed using standard 50 g fire
assay with an atomic absorption finish. ACME and SGS/GEOSOL are both independent ISO
9001:2000 commercial assay laboratories. External quality control samples were inserted in
surface sample batches at a rate of 5%, constituted by blanks, duplicates and Certified
Reference Material (CRM, or Standards). RBM did not inspect the results of this program,
since surface samples are not included in the CDS mineral resource database and were not
used for mineral resource estimation purposes. However, TriStar reports that no significant
problem was detected in the quality control graphs for the soil sampling campaign.
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11.2 Sample Custody and Security
The drill samples collected by TriStar were sent for preparation and chemical analysis to
commercial laboratories. From the project startup, August 2011 to March 2012 (Drill holes
CSH-01 to CSH-12-33), the samples were sent to Acme Labs, at Santiago, Chile, after
preparation at Acme’s facility at Itaituba, PA. From August 2012 to May 2014 (CSH-12-33 to
CSH-14-143), TriStar worked with SGS/GEOSOL, in Vespasiano, MG, after preparation at
its facility at Parauapebas, PA. Both laboratories are certified ISO 9001.
The samples, either drilling or surface, are sealed, organized and stored in sacks. The sacks
were sealed and shipped by closed truck, specially hired for this task, to Itaituba, or to
Parauapebas. No sample loss was ever recorded. From these cities, the aliquots were
transported by air freight of a commercial transport company to the laboratory in Santiago or
Vespasiano. The laboratory receives the samples and reports the final reception to TriStar.
The samples shipments do include samples of the QA/QC protocols, including blanks,
standard and duplicates.
11.3 Sample Preparation
Samples are taken from the core using a diamond saw, after photographic record of the core
boxes.
The sample preparation is performed by commercial laboratories according to industry
standards. For both laboratories, Acme and SGS/GEOSOL, sample preparation
methodology includes drying, crushing, splitting and pulverizing. Samples were dried at
60C. A jaw crusher is used for crushing. Riffle splitter is normally used for splitting.
For holes 01 to 16 and 18, samples were 100% pulverized to 85% minus 150 mesh and
100% sieved in a 150 mesh sieve. The oversize was weighted and analyzed by fire
assay/atomic absorption. The undersize was weighted, homogenized and an aliquot of 50g
was split to be analyzed by fire assay/atomic absorption. Balance between weights and
assays of the oversize and undersize resulted in sample’s final assay. For holes 17 and 19
to 33, the samples were dried at 60 C, 100% crushed to 85% minus 2mm, split in a 500g
aliquot which was pulverized to 85% minus 200 mesh from where a new split of 50g aliquot
was taken to be analyzed by fire assay/atomic absorption. For both types of preparation, the
pulps were air freighted to be assayed at ACME Labs in Santiago, Chile. In addition to the
laboratory quality control, TriStar has added its own certified standard check samples each
10 samples.
Part of the samples, for holes 01 to 16 and 18 and also for checking of some high grade
samples, underwent preparation by the metallic screen method. This method of sample
preparation requires pulverization of the whole sample to 85% minus 150 meshes. The
oversize of a sieve of 150 meshes is weighed and analyzed by fire assay and Atomic
absorption finish (FA/AA). The material under 150 mesh granulometry is weighed and an
aliquot of 50 grams is taken for FA/AA analysis. Gold result is given by weighed average of
the different size ranges.
For the remaining samples, the conventional rock samples preparation package preferred by
each laboratory was used. For Acme, the procedure was to have the samples 100% crushed
to 85% minus 2mm, split in a 500g aliquot which was pulverized to 85% minus 200 meshes
from where a new split of 50g aliquot was taken to be analyzed by FA/AA. For the
SGS/GEOSOL lab, the samples were 100% crushed to 95% minus 2mm and homogenized.
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An aliquot of 250-300g was taken and pulverized to 95% minus 150 meshes, from where a
new split of 50g aliquot was taken for FA/AA analysis.
11.4 Sample Analysis
The method for gold analysis was the same for both laboratories, Acme and SGS/GEOSOL.
All samples were assayed for gold by conventional fire assay and Atomic absorption finish.
Around 25% of the samples (2294 samples out of the total 9188 samples) were analyzed by
the metallic screen method (MS method), which is detailed in the item 13.3. 95% of these
tests were made by the laboratory Acme. The objective is to detect the presence of gold
nuggets and also to enhance the representativeness of the sample, through a greater
sample mass. This was important at the beginning of the project when TriStar was worried
that the gold content of nuggets might be undetected using the conventional method. 489
samples were analyzed by both methods: MS and conventional. TriStar concluded, with this
study, that there is an excellent correlation factor between the two results. Therefore, the
conventional sample preparation method would be sufficient to correctly reflect the metal
content of the deposit. RBM agrees that there is no need to use the MS method for routine
analysis, given its higher cost and turnaround time. However, RBM considers that bulk
samples (>30 kg mass) would enhance the odds of finding nuggets, as it could be expected
from the mineralization model used, Paleo-placer, and the statistical behavior of gold assays
obtained.
The remaining 75% of the samples were assayed for gold by conventional FA/AA, using a
50 gram aliquot. In case where both methods are available, the MS assay is preferred to
compound the resource database, given its advantage in terms of assay quality.
For 929 samples from seven holes, the ICP method was also used, in order to identify if any
other element, from a suite of 37 elements, had any economic interest or could be used as
path finder for gold. RBM did not analyze these results, but TriStar reports that no pattern or
element of interest was found to justify the usage of ICP method for the remaining samples.
Details for all methods can be obtained in the webpage of Acme (www.acme.com) and in the
SGS/GEOSOL laboratory webpage (www.sgsgeosol.com.br).
11.5 Quality Assurance and Quality Control
The quality assurance and quality control protocol (QA/QC) adopted by TriStar comprised a
series of industry standard procedures designed to monitor the precision and repeatability of
the reported assay results and identify eventual problems at the laboratory. No drillhole from
the project was sampled without a concomitant QA/QC program assuring the quality of the
results.
Submission rates are summarized in Table 9.
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Table 9 : QA/QC submission rates
Sample Type
Regular Samples
Blanks
Pulp Reject Duplicates
CRM high grade
CRM low Grade
Total
Number of samples
Percent of Total
9188
379
158
82
216
10023
92%
4%
2%
1%
2%
100%
RBM gives the following recommendations in regards to the types and rates of submission:

At this level of the exploration work, initial, the CDS project would need a higher rate
of insertion for better assessment of uncertainty. RBM recommends a rate of 12%.

It is recommended to use coarse rejects duplicates, either at the primary laboratory
or to a secondary laboratory, for better assessment of precision.

A lower grade CRM, in addition to the two other grade range CRM’s used, would be
beneficial to assess accuracy close to the expected operational cut-off (around 0.400.50 g/t Au)

RBM recommend studying the repeatability in the first and the second drilling
campaign, by selecting a representative number of samples and sending their
coarse rejects for a second analysis.
11.5.1 Blanks
Blanks are non-mineralized samples with gold contents below the detection limits
established by the laboratory assaying methodology. Blanks are used to detect eventual
contamination problems within the primary and external laboratories, particularly in the
sample preparation units. Blank samples were purchased from Rocklabs, from New
Zealand, a reputed CRM supplier. Blank samples are inserted in a systematic pattern,
approximately one blank sample every 25 regular samples, representing 4% of the total
sample population.
The failure criteria used by TriStar is in line with standard industry practice: a value 10 times
greater than the detection level for a blank is considered a failure. In total, 379 blanks were
submitted, with 6 samples returning values considered failures, with grades over 0.05 g/t Au.
The batches which contained these blanks were re-assayed, without showing any more
contamination episodes.
Given these results, RBM interprets that the assaying for the CDS project was performed
without significant contamination episodes and, when they occurred, remediation action was
promptly taken.
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11.5.2 Umpire Laboratory Checks
Selected pulps from samples with a large variety of gold grades were sent to an external
commercial laboratory, the Intertek, at Cotia, SP, to verify the assay values of the primary
laboratory. 158 samples, from 22 holes of the 2014 drilling campaign were sent.
RBM analyzed the results and found the reproducibility of gold adequate, with a correlation
factor of 0.966 between the results of SGS/GEOSOL and Intertek. However, the proportion
of samples above 20% of error is 40% (HARD as defined by Shaw, half average relative
difference). This factor shows the magnitude of the difference in relation to the average
between two different results. This could indicate a problem of quality in the laboratories, or
the higher than anticipated presence of coarse gold. RBM recommends the execution of
more umpire checks, checking also pulps from the first and the second campaign.
11.5.3 Certified Reference Materials
Certified Reference Materials (CRM, also called Standards) were used to control assay
accuracy. TriStar used nine different CRM types from Rocklabs, to control assay accuracy.
The recommended values for these CRMs range between 1.278 g/t and 8.543 g/t gold. RBM
reviewed the CRM results for all drill campaigns. Standard samples are inserted
approximately at a rate of one standard at every 30 samples.
Where upper and lower warning limits, defined as two standard deviations from the mean
CRM grade, were breached, the entire batch of samples was re-assayed. In instances where
all of the samples in a batch are from un-mineralized rock and additional standards, blank
and duplicate data are all within limits, the batch is not rerun.
RBM reviewed the results of these standards, considering separately each laboratory.
Except for the standard OxH97, which failed 100% in 6 tests (what motivated the re-analysis
of the whole batches which contained these standard) the failure rate of the other standards
is adequate. The level of accuracy obtained in both laboratories seems to be adequate,
without bias or excessive drift in the results.
RBM has the opinion that, to acceptably match the expected range of gold concentrations at
Castelo de Sonhos, a lower range CRM, with grade closer to an expected cut-off in an
eventual mining operation, should also be used.
11.6 Conclusions and recommendations
Based on the results reviewed and audited, RBM is of the opinion that the assays used for
the present resource evaluation has adequate levels of accuracy and precision. The results
of gold from both laboratories used meet the industry benchmarks for quality. RBM has the
opinion that the CDS database can be used for grade interpolation and subsequent
engineering studies.
RBM recommends:
 To increase the rate of insertion to 12% of total samples, through usage of coarse
reject duplicates (3% of the total samples) and a lower range CRM, in the order of
0.5 – 0.8 g/t, with 1% of the total;

To perform additional umpire checks for the sample pulps from the first and the
second drilling campaign.
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12 DATA VERIFICATION
12.1 Data Examination
The RBM involvement with the CDS project started in November 2010, when TriStar was
initiating the project and continued until the present evaluation, which has allowed a good
alignment between RBM and the exploration team of TriStar. The site visit was done before
any exploration activity developed by TriStar.
The first job for this project was to verify the historical records left by Barrick Gold
Corporation, which were published in 24/02/2011. The second job was the verification of the
soil geochemistry campaign, in September, 2011. After that, six other News Releases
reporting drill results were signed-off by RBM, a task which required periodic database
auditing, QA/QC verification and general technical review. In May 2013, a variographic study
was made to support a recommendation for a drilling grid intended to establish indicated
resources for the CDS deposit.
RBM relied on information transferred by TriStar to produce this report. No independent
check samples were taken by RBM. However, RBM requested and obtained a copy of ten
different analysis certificates directly from the SGS-Geosol general manager. The result
received from the laboratory SGS-Geosol were compared with the certificates received from
TriStar, without finding any discrepancies.
TriStar manage its database in the MS-Excel software, where all the quality control graphs
are produced. To audit it, RBM checked the tables in the MS-Access software.
A well maintained database was found, although some minor mistakes were detected and
promptly corrected by TriStar.
In RBM´s opinion, the information used in this resource evaluation is considered adequate
and in accordance to international standards. TriStar continues to maintain an orderly
database, supported by an easily accessed filing system, in which all the field information
has been scanned and indexed.
12.2 Site Visit
The QP responsible for this report, Rodrigo Mello, conducted a site visit from November 3rd
to 6th, 2011. In this visit, he became familiar with the geology, the local conditions and
exploration methodology used. He was also able to discuss and evaluate TriStar´s sampling
and logging practices, survey control and QA-QC practices. The drill core samples, from the
holes executed by Barrick, were inspected and the historical soil and drill sampling results
were verified in old documents with this company seal.
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13 MINERAL PROCESSING AND METALLURGICAL TESTING
An exploratory test was performed at the SGS/Geosol laboratory located in the city of
Vespasiano, MG, for the development of the process for recovery of the gold contained in
the ore of the Castelo de Sonhos Project.
The bulk sample used for this test was composed of coarse rejects of samples of drill core
which had been 100% crushed to 100% passing a 2 mm sieve. The intervals selected are of
mineralized sections from several drill holes, covering the whole length of the Esperança
South mineralization outcrop. 41 samples of 12 holes (CSH-41, 43, 44, 47, 57, 58, 59, 80,
81, 83, 85 and 87) were selected, compounding a 52 kg composite sample. At this stage of
the work, it is not clear if this sample is representative of the ore contained in the property,
as a whole. Therefore, the conclusions drawn in this report need to be taken as preliminary.
The composite sample was then dried and passed through a rotary splitter to generate subsamples of 1 kg each. The content of the composite sample was obtained by analysis in
triplicate using a sub-sample of 1kg, resulting in a head grade of 3.11 g/t. Next step was to
hold chemical analysis in nine different grain sizes. It was noted that 41.5% of the gold was
contained in the size above 250 µm, which is an indication of the presence of coarse gold.
Milling test was undertaken in two different grain sizes. The time necessary to achieve 80%
(P80) passing at 150 µm (100 meshes) was 7 minutes and to achieve P80 on 53 µm (270
meshes) was 37 minutes, a time more than five times larger. Due to the resulting increase in
energy consumption, for project design milling at 53 µm should not be considered
economical.
A gravity recovery test was carried out using a centrifuge Falcon L40. The gold recovery
rates were high: 73% at P80 of 150 µm and 88.6% at P80 of 53 µm. This factor could have
an impact in the economy of the project, since a plant where most of the gold is recovered
by gravity only would have lower capital and operational costs.
Next step was to process the tailings of the Falcon centrifuge, by leaching it with cyanide for
24 hours. Extraction of gold in the tailings was 84.9% for 150μm and 96.8% for 53μm (both
P80). The combined recovery (gravity separation followed by cyanide leaching) was
excellent, reaching 95.9% at 150 µm and 99.6% P80 to 53 µm (P80). Cyanide consumption
is considered low, in both cases: 605 g/t and 649 g/t, respectively. Table 10 summarizes the
results of the recovery tests.
A last test with the original sample was made. It consisted of direct cyanide leaching in bottle
of two sub-samples of 1 kg each, 100% crushed at minus 2 mm, for 24 hours. The average
gold recovery in the two samples was 78.7%, with a NaCN consumption of 455 g/t. This
result indicates a possible process route via heap leaching or VAT leaching.
The absence of sulphide minerals in the mineralized zones, the presence of coarse gold, the
high rates of recovery for any of the three tested routes, besides the low cyanide
consumption, indicate that the Castelo de Sonhos mineralization is free milling, indicating a
more simple extraction process, possibly reflecting in low capital and operational costs.
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Table 10: Metallurgical Study Summary
Gravity Concentration
P80 (80% of material passing the sieve)
150 µm
53 µm
Sample mass (g)
10000
10000
Head grade (g/t)
3,11
3,11
Gravity concentrate mass (g)
72
85
Gravity concentrate grade (g/t Au)
315
324
% of mass in the concentrate (%)
0,72%
0,85%
Mass of tailings (g)
9928
9915
Grade of tailings (g/t)
0,713
0,264
Recovery (%)
76,2%
91,3%
1000
1000
0,713
0,264
0,11
0,01
605
649
150
200
84,6%
96,2%
96,5%
99,7%
Cyanide leaching of the gravity process tailings
Sample mass (g)
Head grade (g/t)
Grade of tailings (g/t))
Cyanide consumption (g/t)
CaO consumption (g/t)
Leaching Recovery (%)
Global recovery estimate (%)
Based on these results, RBM states that it is reasonable to conclude that the mineralization
found at the CDS project is amenable to a standard process circuit composed of gravity
concentration and Carbon-in-Leach extraction and possibly to a heap or vat leaching
process. However, additional tests are necessary to verify the metallurgical variability of the
deposit. The head grade of the additional samples for recovery test ideally should be in the
order of 2.0 g/t, closer to the average grade of the mineralization.
TriStar Gold Inc.
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14 MINERAL RESOURCE ESTIMATE
RBM has been retained by TriStar to prepare a Mineral Resource Estimate of the gold
resources located on its Castelo de Sonhos Project (CDS), and to produce a supporting
Technical Report in accordance with the guidelines set out in NI-43-101, companion policy
NI43-101CP and Form 43-101F1. The estimate presented here is based upon the results of
16,656 meters of diamond drilling (DD), distributed in 146 holes, which produced 9188
samples, all of them analyzed for gold. No other element was considered in the present
estimative.
14.1 Methodology
This estimate was made by means of three-dimensional modeling of ore bodies, interpreting
drillhole intersections having at least 0.50 g/t gold over two meters, or 0.40 g/t at four meters.
Projections were made projecting to a maximum of 50 m away from these intersections,
along the dip of the reef or along the strike, depending on the continuity and thickness of the
reef. Intersections of isolated reefs were projected typically by 15 meters, thus defining a
body of 30 meters along the strike and dip.
These three-dimensional models (wireframes) were used to create the block model, whose
minimum dimensions adopted were: 5 x 5 x 2 meters. To estimate the content of gold,
ordinary kriging was used.
14.2 Database
Data was supplied by TriStar in the following formats:
1. MS-Excel format, consisted of drilling information with assays, survey, collar and
lithology;
2. DXF format, for the solids representing the mineralization; lines representing faults
and geological contacts
3. A text file with coordinate points, representing topography elevations;
4. Assay certificates in pdf format.
5. Various reports in pdf, and word format.
The general statistics, from assay data used in the present estimation is given in the table
below.
Table 11: General stats of drilling used in this evaluation
Type
Nº of holes Nº Meters drilled
Core Drilling 146
16,656.5
Nº of samples
Nº of meters sampled
9188
16,003.22
As it can be seen that TriStar sampled 96% of the meters drilled, which reduces the chance
that a mineralized level might be undetected by the drilling.
TriStar Gold Inc.
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14.3 Selection and Analysis of Representative Samples
At this stage, the wireframes models, prepared by manual interpretation, were used to select
representative samples of the mineralization. Visual checking was performed to verify if the
selection was done properly and no mistake was found.
These samples were analyzed for their statistical characteristics, being the summary
presented below:
Table 12: Raw samples, contained within mineralized zones
Samples inside mineralized zones Number of samples Length (m) Mean Au g/t Std. Deviation 442 776 1.93 3.11 Variance CV Min Max 0.02 1.61 0.00 38.1 14.4 Compositing and Outlier Analysis
Compositing, i.e. transforming the samples to a fixed length in order to have all values at a
similar support, is a necessary step before interpolation of results. Since the average length
of the core samples is 1.76 m, a 2.0 m length was chosen for the composition of samples in
all targets.
A probability graph was used to define the threshold to cap the outliers of the studied
population. The objective is to limit the influence of very high values on the interpolation of
grades. If the high values stay in the expected position (a straight line in the high end of the
probability graph) they may be considered part of the population and used in the estimative.
Otherwise, they may be capped, to have their value reduced to a selected threshold. A
common threshold is the one where 99% of the samples have grade less than that, but it
depends on many other factors, like the adherence of the estimated values to the moving
average, to the geology, etc. For the present estimation, a capping value of 10 g/t Au was
chosen. It may be considered conservative, since 4% of the population has values above
this grade, as compared with the usual 1% of samples capped.
The influence of this procedure on the database statistics is depicted in the Table 13.
Table 13: Effect of capping
NR RAW CAPPED .CAPPING SAMPLES MEAN % MEAN Au g/t Au g/t Au g/t DECREASE CAPPED 10 1.88 1.81 4% 11 PERCENTILE Raw CV Capped CV 97.26 1.32 1.19 The statistics of the database used for the estimative is the table below:
Table 14: Composites, after capping, as used for kriging
Composites Mean Au g/t Std. Deviation 1.88 2.49 Variance CV Min Max 6.21 1.32 0.01 16.82
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Number of samples Length (m) 402 769 14.5 Density Estimation
No density measurement was taken in the field. Considering known densities of compact
arenite and conglomerates (around 2.66 g/cm3, as observed in Jacobina, Bahia), it was
decided to use the average of 2.5 g/cm3 for ore and waste.
No weathered zone was adopted in this model. According to the drill logs, the weathered
zone is negligible in the zone dominated by fresh arenite and conglomerate.
In RBM’s opinion, this assumption for density value is reasonable for use in mineral resource
estimation at this preliminary level of study.
14.6 Population Analysis
An analysis was made to verify if some kind of restriction should be applied to the population
of samples to enhance the estimation. It was considered the estimation in different domains
for samples in arenite and conglomerate.
The following table represent the distribution of
samples along the lithological units, with their respective average grade.
Table 15: Statistics for different lithology types
Lithology Conglomerate Conglomeratic arenite Arenite Soil Mylonite Diabase Iron Stone Granite Quartz vein Mean Au g/t 0.18 0.11 0.13 0.11 0.05 0.05 0.02 0.01 0.00 % of samples 60% 21% 15% 2% 0% 1% 0% 1% 0% TriStar interprets the mineralized zones as a combination of conglomerate reefs and
discordant structures, possibly related to thrust fault ramps and associated fractures.
Mineralized levels appears to follow planar patterns frequently discordant to the bedding.
RBM concurs with this interpretation. For this reason, no domaining based on lithology was
used in the present estimative.
The population of gold values contained in the grade shells, after composition at 2m and
capping at 10 g/t Au is represented in the histogram below.
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80
Gold histogram ‐ 2 m composites
70
Frequency
60
50
40
30
20
10
0
0.2
0.7
1.2
1.7
2.2
2.7
Au g/t
Figure 17: Histogram of gold values used for the estimate.
The histogram reveals a very skewed population, with a long tail toward higher gold grades.
This could be indicative of a higher importance of nuggets in distribution of metal content in
the deposit. If a significant portion of the metal is contained in nuggets, sampling needs to be
adjusted accordingly, increasing the mass of the samples. The usage of bulk sampling would
enhance the probability of finding the nuggets, thus possibly increasing the mean gold
grade.
14.7 Variography
For the variogram study, composites of the target Esperança South were used, due to its
higher sampling density. As this target has two mineralized zones with different strikes, with
one direction at North South direction and other at N40°E s, the samples contained in the
latter domain were rotated by 40°, as a way to “unfold” the geology and having all samples
along a single strike direction, at North South axis.
Correlograms were used to perform this analysis. The results showed variograms with short
range structures, indicating the need for denser sampling to better define the variogram.
Nugget effect was taken from down-the-hole variograms. At 40% of the variance, it is
considered high.
A search ellipsoid is defined as follows:

1st Direction: according to the direction of the strike, which, for the northern part of
Esperança South target and the Esperança Center target is the North-South
direction, while for the southern part of Esperança South, this direction is in the strike
N40°E.

2nd Direction: It is perpendicular to the strike, along the dip, which averaged 30°W or
NW.

3rd Direction: It is perpendicular to these two previous directions.
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The sofftware used
d for this an
nalysis was the GSLIB and MS-Ex
xcel. The vaariogram us
sed was
as follow
ws:
Figure 1
18: Variogra
am paramete
ers
Block Mode
el Paramete
ers
14.8 B
odels were constructed: Esperan
nça South (c
called ES model)
m
and Esperança
a Center
Two mo
(EC mo
odel).
The ore
e block mod
del has a cell size of 5 x 5 x 2 meters.
m
This relatively ssmall block size for
ore wou
uld be adeq
quate for miine planning
g at the pro
oduction rate envisioneed by TriSta
ar: in the
range o
of 1,000 to 1,500
1
tonne
es/day. The parameters
s are as follows:
Table 16
6: Block mo
odel parame
eters for Esp
perança Sou
uth
Esp
perança Sou
uth
X
Y
Z
72478
80 9089800
0
356
Minimu
um Coordinates
00 90923000 684
Maximum Coordin
nates 72600
244
4 500 164
No. blo
ocks
5 5 2 User B
Block Size
1220
0 2500 328
Extenssion
Mineral Re
esources Estimation for the Ca
astelo de Sonho
os Project - Pará
á State - Brazil
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old Inc.
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Table 17: Block model parameters for Esperança Center
Esperança Center
X
Y
Minimum Coordinates 723900 9094200
Maximum Coordinates 724700 9095700
160 300 No. blocks
5 5 User Block Size
800 1500 Extension
Z
390
630
120
2 240
14.9 Kriging Strategy
Ordinary kriging was used for grade interpolation. The same strategy was used for both
models. Three passes were used, to successively interpolate grades with parameters of
decreasing requirements.
RBM defined two search orientations domains, based upon geological trends and grade
continuity, as observed from the attitude of the mineralized zones. The EC model and the
northern zone of the ES model have their search ellipsoid aligned with the NS direction,
dipping to the West. The Southern zone of the ES model has its first orientation along the
N40°E direction, dipping to the NW.
Table 18: Kriging strategy for ES and EC models
Kriging Parameters
1 Direction (m)
Krig1
60
Krig2
120
Krig3
240
2nd Direction (m)
30
60
120
3 Direction (m)
10
20
40
Min. number of Composites
3
3
1
Max. number of Composites
6
6
6
st
rd
14.10 Mineral Resource Classification
The classification methodology adopted by RBM used the following parameters:
•
Measured resources: No measured resources were defined at this stage of the work,
due to the insufficient level of geological understanding of the deposit.
•
Indicated resources: blocks which have at least two different drillholes in the
neighborhood, considering a distance of 66 m in the first and the second direction and 20 m
along third direction, with at least 3 composites. This ellipsoid provides results approximately
equivalent to a drilling grid of 50 m x 50 m. Only the Esperança South model was considered
with enough geological understanding to support indicated resources.
•
Inferred resource: all blocks that were interpreted as mineralized, but were not
included in the criteria required for indicated resources were classified as inferred resources.
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14.11 Model Validation
To verify the results of the estimation, a set of checks were performed on the model for each
area:
•Comparison using the drift analysis: compare the average grade of composites, and
kriged values (as depicted in the figures 19 to 21) along the major axis of the deposit.
•Visual validation of grades and the classification, comparing with the drilling (figures
23).
In all tests the models were considered consistent and robust. However, RBM recommends
additional drilling to provide better definitions for controls and limits for mineralization.
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Drift analysis ‐ Comparison across W‐E ‐ Au g/t
Esperança Sul
5
4.5
4
Au g/t
3.5
3
2.5
COMPOSITE
2
BLOCK MODEL
1.5
1
0.5
0
724600
724800
725000
725200
725400
725600
725800
726000
726200
Coordinate X
Figure 19: Drift analysis along WE axis
Drift analysis ‐ Comparison across S‐N ‐ Au g/t
Esperança Sul
6
5
Au g/t
4
3
COMPOSITE
BLOCK MODEL
2
1
0
9089500
9090000
9090500
9091000
9091500
Coordinate Y
Figure 20: Drift analysis along NS axis
Drift analysis ‐ Comparison across height ‐ Au g/t
Esperança Sul
4
3.5
3
Au g/t
2.5
2
COMPOSITE
1.5
BLOCK MODEL
1
0.5
0
400
450
500
550
600
650
700
Height
Figure 21: Drift analysis along height
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Figure 22: Three examples of vertical sections at ES model, with drilling and the conceptual pit
TriStar Gold Inc.
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14.12 Resource Reporting Criteria
To determine the portion of the resource models with reasonable prospects of eventual
economic extraction, a pit optimizer software based on the Lerchs-Grossmann algorithm was
used. For this task, the block model was regularized so that the smallest mining unit had the
dimensions 5 x 5 x 2 meters. The gold content of the mineralized portion within each block
was diluted considering the percentage of this portion and the estimated grade thereof. The
waste material used in dilution had a grade estimated at an average content of 0.10 g/t Au,
which is the average of the samples immediately adjacent to the mineralized areas. The
parameters used in the pit optimization were based on metallurgical results obtained by
TriStar and parameters published in technical reports of other gold projects in the Amazon.
The parameters used are listed in the following table.
Table 19: Parameters used for Lerchs-Grossmann analysis
Parameters for pit optimization
NE
Gold Price
Unit
US$/Oz
Value
1.400
Selling Cost
US$/Oz
25.00
Process cost
US$/t
11.94
Mining cost (ore)
US$/t
2.05
Mining cost (waste)
US$/t
2
Gold process recovery
%
92.7%
Mining recovery
%
98%
Marginal cut-off
g/t
0.30
Slope angle
degrees
55°
Cut-off is estimated by the formula:
Cut-off grade=
Operating cost
(Price - Selling Cost) x Recovery
Since this cut-off is used only for resource definition, the item related to operating cost in the
formula is made by the process cost and the difference between mine cost of ore and waste.
This is the so called “Marginal cut-off”. The concept is that in most cases, if a block does not
pay for the mine cost, it would be mined anyway as waste. G&A and other global costs are
also not considered on the calculation of the marginal cut-off.
The limits of the mineral property were also considered for resource definition. All resources
are contained within claims controlled by TriStar.
Mineralized blocks not contained in the conceptual pit are not considered part of the
resources. No study has been done to verify the feasibility of mining by underground
methods.
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14.13 Results
Table 20 summarizes the mineral resources for the Castelo de Sonhos Project.
Resources are reported for a number of cut offs, as depicted in Table 21, but the mineral
statement is made at the cut-off of 0.40 g/t Au, which is close to the expected operational
cut-off, the grade that covers mine, G&A and process cost. Waste to ore ratio, in the
conceptual pits, average 7.8 tonnes per ton of ore, for the two block models.
Table 20: Castelo de Sonhos Project Mineral Resources Table
Castelo de Sonhos Mineral Resource Statement at 0.40 g/t cut-off grade
Indicated
Inferred
Target K tonnes Au (g/t) Au (Koz) Esperança South 2,788 2.03 182 K tonnes 2,788 2.03 182 Au (Koz) 769 2.41 60 661 1.81 38 1,430 2.13 98 Esperança Center Total Au (g/t) Table 21: Mineral Resources Grade-Tonnage table for Castelo de Sonhos
Castelo de Sonhos ‐ Mineral Resources at various Gold Cut‐off Grades Esperança Sul
Cut‐off grade Indicated Esperança Centro Inferred
Inferred K tonnes Au (g/t) Au (koz) K tonnes Au (g/t) Au (koz) K tonnes Au (g/t) Au (koz)
0.3 2,895 1.96 183 795
2.3
60
720
1.7 39 0.35 2,842 1.99 182 785
2.4
60
692
1.7 39 0.4 2,788 2.03 182 769
2.4
60
661
1.8 38 0.45 2,732 2.06 181 756
2.4
60
622
1.9 38 0.5 2,672 2.09 180 738
2.5
59
586
2.0 37 0.55 2,603 2.14 179 725
2.5
59
562
2.0 37 0.6 2,527 2.18 177 712
2.6
59
533
2.1 36 0.65 2,469 2.22 176 700
2.6
59
495
2.2 36 0.7 2,392 2.27 174 688
2.6
58
475
2.3 35 0.75 2,306 2.33 172 677
2.7
58
460
2.4 35 0.8 2,231 2.38 171 665
2.7
58
448
2.4 35 There are no known factors, either environmental, permitting, legal, title, taxation,
socioeconomic, market or political that would materially affect the mineral resources stated
herein.
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15-22 ITEMS RELATED TO PROJECT FEASIBILITY
Given the early stage of the exploration work at the Castelo de Sonhos Project, no robust
information is available to evaluate the project feasibility. Comments made in previous items
related to the possible feasibility of the project are made preliminarily, in order to comply with
the definition that Mineral Resources requires reasonable prospects of eventual economic
extraction.
Therefore, RBM will not comment about the following items, which will be subject of future
studies by TriStar: Mineral Reserves Estimate; Mining Methods; Recovery methods; Project
Infrastructure; Market Studies and Contracts; Environmental Studies, Permitting, and Social
or Community Impact; Capital and Operating Costs; and Economic Analysis.
23 ADJACENT PROPERTIES
No information from adjacent properties was used for the evaluation of resources at the
Castelo de Sonhos Project.
24 OTHER RELEVANT DATA AND INFORMATION
TriStar has decided to proceed with the exploratory activities for the CDS Project, initially
with infill and step out drilling for the Esperança South target, both along dip and along
strike. Depending on the availability of additional funding, TriStar will also engage in target
ranking and scout drill testing, for the remaining targets, besides infill and step out drilling for
the Esperança Center target.
25 INTERPRETATION AND CONCLUSIONS
RBM reviewed the exploration data, geology, and metallurgy data from the Castelo de
Sonhos property to estimate mineral resources for the Castelo de Sonhos gold deposit. The
following is a list of general conclusions:

The deposit type used to orientate exploration is of a conglomerate-hosted gold
deposit, where detrital gold of paleo-placer origin was locally remobilized by
hydrothermal fluids along conducts controlled by rock permeability. The alteration
types usually associated with mineralization is silicification and hematitization.

Apparently, there are few structural complications, principally strike-slip faults locally
displacing the mineralization.

Industry-standard drilling and sampling methods were employed by TriStar to
evaluate the deposit.

Sample collection, preparation and assaying methods employed by TriStar are
adequate for purposes of mineral resource estimation.
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
RBM imported the data from all lab certificates and field logs digitalized and
compared with TriStar own database and found no significant mistake, thus
concluding that data storage was performed adequately.

QAQC protocols are adequate and were followed routinely. RBM review the CRM
and duplicate results and found them acceptable, without significant bias in the
results.

Orebody interpretation and modeling suggests a relatively simple pattern of
mineralization, with sub-planar lenses semi-concordant with the sedimentary
bedding. The lenses are preferentially on conglomerate reefs but may be discordant,
possibly due to hydrothermal remobilization of the gold.

Two meters length composites, included in the mineralized zones, were selected for
statistical analysis and mineral resource evaluation. They show a highly skewed
population, but with relatively low coefficient of variation, what support the usage of
Ordinary Kriging.

Capping was made using a 10 g/t threshold, with a significant percentage of the
composites being affected by this procedure: 4% of the population had the grade
reduced to 10 g/t before used in grade estimation. This factor needs to be reviewed
in future evaluations, since it may lead to underestimation of the gold content.

Standard estimation procedure, based on Ordinary Kriging, was undertaken for two
different models, Esperança Center and Esperança South. In general, the gold OK
estimates shows good adherence to the local average of gold results in composites.

Classification: Indicated resources were defined only for the Esperança South model.
It was done through an ellipsoid of 66 m extension, requiring at least two drillholes.
Inferred resources were all blocks in the Esperança Center model and the blocks
defined as mineralized, in the Esperança South, but not classified as indicated.

Only the mineralized material contained within the break-even conceptual open pits
is reported.

Mineralization at Castelo de Sonhos is open in several directions and should be
followed-up with a step-out drilling campaign to determine the limits of the
mineralized system.

Preliminary metallurgical testwork indicates metallurgical gold recoveries of 73%,
using only gravity concentration, which can be increased to 96% through cyanide
leaching of the tailings (at P80 at 150 µm). Direct cyanide leaching resulted in 79%
gold recovery (P100 at 2 mm). These results are encouraging, suggesting a process
plant requiring relatively low Capital expenditure, either through a gravity-CIL plant,
or a direct leach plant (heap or VAT). Additional testwork is necessary to determine
the representativeness and repeatability of these tests.
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26 RECOMMENDATIONS
The following recommendations can be made, in order to support a preliminary assessment
for the project.

Additional exploration activities are required to define the limits of the mineralized
system and to better determine the mineralization controls and grade variability at the
Castelo de Sonhos gold deposit.

TriStar will need detail surface mapping, with use of trenching and shallow drilling if
outcrops are not available, to better understand mineralization. The cycles of
deposition of arenite and conglomerate need to be understood and their relationship
with mineralization (if any) needs to be defined. The relationship between gold
mineralization and hydrothermal alteration has not yet been fully understood and may
be important for orebody discovery and delimitation.

Since mineralization is associated with hematitization, magnetometry may be a tool
to map the mineralization pathways. TriStar should start using a magnetic
susceptibility meter over the core samples. If this information proves to be useful,
ground geophysics, using a high resolution magnetometer, may indicate hidden
orebodies or help to obtain the orebody geometry. Although hematite is not magnetic,
it may produce subtle mag anomalies by parasitic antiferromagnetism and also by
the presence of remnants of magnetite crystals not yet oxidized.

TriStar should advance with diamond drilling for step-out and infill drilling, both at
Esperança South and Esperança Center. The objective is to determine the limits of
mineralization, along strike and down-dip, and to increase the confidence on grade
and ore tonnage. Since the limits are defined by geology and economics, simulations
may be useful to help drill planning.

Directional deviation (both azimuth and inclination) measurement using a nonmagnetic method should be undertaken in all holes. TriStar should investigate the
feasibility of surveying down-hole deviation of the existing holes, to improve the
model.

Density measurements should be taken routinely from drill core, until the density
variability, according to lithology and weathering profile, is well known. Simple
procedures, like the Water Displacement Method, can be made at the field camp.

Regarding quality control, RBM made the following recommendations:
o At this level of the exploration work, initial, the CDS project would need a
higher rate of insertion for better assessment of uncertainty. RBM
recommends a rate of 12%.
o It is recommended the usage of coarse rejects duplicates, either at the
primary laboratory or to a secondary laboratory, for better assessment of
precision. RBM recommend studying the repeatability in the first and the
second drilling campaign, selecting a representative number of samples and
sending the coarse rejects for a second analysis and duplicate study.
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o

A lower grade CRM, additional to the two other grade range CRM used,
would be beneficial to assess accuracy close to the expected operational cutoff (around 0.40-0.50 g/t Au)
RBM recommends a test using a bulk sample, to increase the possibility of including
gold nuggets in the assaying, which could be important in the increase of the average
grade of the deposit. This could be preceded by a sample size analysis (Pierre Gy´s
formula), to define an ideal sample mass which would reflect the true metal content
of the deposit.
27 REFERENCES
ALKMIM, F.F., 2011. Estratigrafia e Estrutural das Hospedeiras da Mineralização Aurífera
de Castelo de Sonhos, Sul do Pará. Internal technical report prepared for Tristar Gold
Inc. 16 p.
ARTHUR, J. et.al. 2004. An Independent Technical Report on the Tarkwa Gold Mine,
Ghana. NI-43-101 Technical Report by SRK Consulting for Gold Fields Ltd. and
IAMGold Corp., 98 p.
BAHIA, R.B.C. et al. Grupo Iriri - Descrição das unidades litoestratigráficas e litodêmicas. In:
KLEIN, E.L. et al. (Org.). Geologia e Recursos Minerais da Província Mineral do
Tapajós: CPRM, 2001a. 1 CD-ROM.
COX, DENNIS P. Regional Environment of the Jacobina Auriferous Conglomerate, Brazil.
Economic Geology, vol. 62, 1967, pp. 773-780.
JURAS, S. et.al. 2011. Technical Report for the Tocantinzinho Gold Project, Brazil, 43-101
Technical Report by Eldorado Gold., 174 p.
LECUYER, N. L. & MOORE, C.M. 2014. Technical Report on the Jacobina Mine Complex,
Bahia State, Brazil. 43-101 Technical Report by Roscoe Postle Associates for Yamana
Gold Inc., 157 p.
MAH, P. et.al. 2014. Aurizona Resource and Reserve Update, Brazil. 43-101 Technical
Report by Luna Gold. 244 p.
MIHOLIC, STANKO. Genesis of the Witwatersrand Gold-Uranium Deposits. Economic
Geology, vol. 49, 1954, pp 537-540.
SANTOS, J.O.S. et al. Gold deposits of the Tapajós and Alta Floresta Domains, TapajósParima orogenic belt, Amazon Craton, Brazil. Mineralium Deposita, v. 36, n. 3-4, p. 279299, 2001.
VASQUEZ, M.L.; ROSA-COSTA, L.T. Geologia e Recursos Minerais do Estado do Pará:
CPRM, 2008.
TriStar Gold Inc.
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RBM Ltda
28 CERTIFICATE OF AUTHOR
Rodrigo B. Mello
RBM Consultoria Mineral Ltda
Rua Prof. Souza, nº 105/06, Saquarema, RJ, Brazil 28.990-000
Email: [email protected]
I, Rodrigo Mello, FAusIMM, do hereby certify that:
1. I am currently employed as principal at RBM Consultoria Mineral Ltda.
2. I hold the following academic qualifications:

Graduation in Geology, at the Minas Gerais University, in 1985
 Specialization (Computing), in the Goiás Catholic University, in 1999
3. I am a Fellow of the Australasian Institute of Mining and Metallurgy
(membership number 209332) and I am a registered Geologist with the
Regional Council of Engineering, Minas Gerais, Brazil.
4. I have worked as a geologist and project manager in the minerals industry for
28 years, since my graduation.
5. I have read the definition of “qualified person” set out in National Instrument
43-101 and certify that by reason of my education, affiliation and past relevant
work experience, I fulfill the requirements of a Qualified Person as defined in
this Instrument. My work experience includes 15 years as exploration
geologist/manager working in Archean, Proterozoic, and Tertiary
environments, 13 years as a mineral resource analyst working in the
evaluation of gold, copper, zinc, nickel and silver deposits in nine different
countries. In the Tapajós province, I have acted as Qualified Person in
technical reports for Brazauro Gold (Tocantinzinho project) and Serabi Gold
(Palito mine).
6. I am responsible for the preparation of this report, entitled “Castelo de Sonhos
Project - Mineral Resources Estimation”, dated September, 22nd, 2014. I
visited the Castelo de Sonhos Property at November, 27th and 28th, 2010.
7. I have no previous involvement with the Castelo de Sonhos Project.
8. I am not aware of any material fact, or change in reported information, in
connection with the subject properties, not reported or considered by me, the
omission of which makes this report misleading.
9. I am independent of the issuer, applying all of the tests in section 1.5 of
National Instrument 43-101.
10. I have read National Instrument 43-101 and Form 43-101F1, and the
Technical Report has been prepared in compliance with both documents.
“signed”
Dated this September, 22nd, 2014
TriStar Gold Inc.
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RBM Ltda
Appendix A Drill Holes Used in the Mineral Resource Estimation Mineral Resources Estimation for the Castelo de Sonhos Project - Pará State - Brazil
TriStar Gold Inc.
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HOLEID X Y Z EOH AZIMUTH DIP TARGET CSBG‐13 725,194 9,090,161 640.9 144.1 140
45 Esperança South Barrick CSBG‐2A 725,160 9,090,203 635.3 299.2 140
55 Esperança South Barrick CSH‐11‐001 724,506 9,094,796 603.89 266.8 90
55 Esperança Center TriStar CSH‐11‐002 724,304 9,095,004 603.69 432.4 90
45 Esperança South TriStar CSH‐11‐004 724,286 9,094,401 595.07 250.4 90
55 Esperança South TriStar CSH‐11‐006 724,064 9,095,400 579 323.0 90
55 Esperança South TriStar Mineral Resources Estimation for the Castelo de Sonhos Project - Pará State - Brazil
TriStar Gold Inc.
Operator Page 63
RBM Ltda
HOLEID X Y Z EOH CSH‐12‐042 725,633 9,091,599 609.01 101.7 CSH‐12‐043 CSH‐12‐044 AZIMUTH DIP TARGET Operator 90
55 Esperança South TriStar 725,138 9,092,201 504.83 116.8 90
55 Esperança South TriStar 724,922 9,090,035 609.97 60.8 140
55 Esperança East TriStar CSH‐12‐049 725,721 9,091,001 674.15 114.3 90
55 Esperança Center TriStar CSH‐12‐072 724,430 9,094,314 562 102.5 90
CSH‐12‐084 725,635 9,094,604 520.25 125.1 20
TriStar Gold Inc.
55 Esperança South TriStar 55 Esperança East TriStar Page 64
RBM Ltda
HOLEID X Y Z EOH AZIMUTH DIP TARGET CSH‐12‐085 724,855 9,089,974 605.43 101.7 140
55 Esperança West TriStar CSH‐12‐092 722,098 9,095,513 549.96 318.0 315
60 Esperança West TriStar CSH‐12‐093 724,171 9,094,910 623.8 10.3 0
55 Esperança South TriStar CSH‐14‐115A 725,579 9,091,599 608.81 30.5 90
TriStar Gold Inc.
Operator Page 65
RBM Ltda
HOLEID X Y Z EOH AZIMUTH DIP TARGET CSH‐14‐127 725,431 9,090,569 671.16 109.7 140
TriStar Gold Inc.
Operator Page 66
RBM Ltda

NI 43-101 TECHNICAL REPORT Mineral Resources

Transcription

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