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SEMAFO NATOUGOU DEPOSIT (2.0Moz)

4 August 2014

NATOUGOU DEPOSIT

Project Location and Access

The Natougou Gold Project is located in Burkina Faso, 320km south-east of Ouagadougou the capital city. Natougou deposit is on the Company’s Boungou exploration permit.

    

 Access is possible by paved road to Kantchari town via Fada N’Gourma, further 55 km of gravel road to Diapaga town and finally 20km to project area.

Boungou exploration permit (within which Natougou is located) is within the greater Tapoa Exploration Project, which comprises a group of four permits covering over 770km2.

HISTORY

.  Mt Isa Metals Ltd is an Australia-based resource company focused on exploration. By May 2010 the Company had assembled a large portfolio of gold exploration permits in Burkina Faso.

.  The company has been actively exploring the area commencing with sampling and mapping of the existing workings since late 2010.

.  Detailed soil sampling of the area near the Bougou artisanal workings was completed in the first half of 2011, followed up by a regional soil survey to further extend exploration coverage.

.  10 May 2011, Mt Isa Metals defined multiple zones of extensive high-order soil sample anomalism at its Boungou Gold Prospect.

.  One of these zones, the Natougou zone, has some spectacular results and MET than plan to drill-test Natougou in the 2011-12 field season.

.  Initial RC drilling commenced in early 2012, and later that year (April 2012), Orbis announced a new discovery at the Natougou prospect.

.  In August 2012, the Company formally changed name to Orbis Gold Limited (ASX:OBS).

.  Resource drilling commenced in late 2012.

.  01 August 2013: Positive metallurgical test results show that Natougou mineralization is amenable to a conventional CIL process route.

.  05 August 2013, a Maiden Resource for the Natougou Deposit was reported in accordance with the JORC code.

.  04 August 2014, an Updated Mineral Resource estimate completed for Natougou gives Combined Indicated and Inferred Mineral Resource of 18Mt @ 3.4g/t for 2.0 million ounces of contained gold.

.  February 10, 2015: Following a takeover, Orbis Gold board unanimously accepted Semafo offer revised offer price of a $0.713 best and final.

 Project Geology

The West Africa Birimian Greenstone Belt consists of Lower Proterozoic age volcanic and sedimentary units intruded and surrounded by related plutonic rocks. Nantougou project is located in these highly prolific terrains, precisely on the southern portion of the Diapaga Greenstone belt in eastern Burkina Faso.

The permits cover areas of prospective greenstone and interpreted equivalents of the Tarkwaian sediments from the prolific Ghana goldfields, and include extensions of the Natougou Structure.

The deposit is hosted by the Natougou Structure, an almost flat-lying shear that is exposed at surface on its south-eastern edge.

Within the resource area, the Natougou Structure is developed within greenstones (typically amphibolites). The deposit forms a very open dome shape that gently plunges to the north-west.

In addition to the shallow artisanal gold mining activity that is widespread across the area immediately adjacent the Natougou deposit.

DEPOSIT TYPES

The deposit is near-surface and flat lying with strong structural control. It is a Large-scale deposit constituted of high grade flat-lying quartz-sulphide lode.

Natougou is currently interpreted as a large, flat structure (flat-lying shear that is exposed at surface on its south-eastern edge).

The resource gold grade is significantly above those typical of West African gold deposits.

MINERALIZATION

Natougou depositThe deposit is hosted by the Natougou Structure, large-scale flat-lying shear that is exposed at surface on its south-eastern edge. The deposit forms a very open dome shape that gently plunges to the north-west.

The mineralized zone within the Natougou Structure is characterized by strong shearing, sheeted and deformed quartz veins, silicification, and minor associated sulphides. Coarse visible gold has been observed within the mineralized zone.

Mineralization have been defined for a distance of 1.8km NW-SE over 1.1km SW-NE. It is open along the Natougou structure in several directions.

Mineral Resources

Natougou project – Mineral Resource as at 04 August 2014: 18Mt @ 3.4g/t for 2.0 million ounces of contained gold (at a 0.5g/t Au lower cut-off grade).

Indicated Mineral Resource: 7.1Mt @ 5.1g/t Au for 1.2 million ounces Au

Inferred Mineral Resource: 11 Mt @ 2.3 g/t Au for 0.8 million ounces Au

The Resource estimate was prepared by Snowden Mining Industry Consultants and is reported in accordance with the JORC Code (2012).

Source: ASX Announcement 04 August 2014 Orbis Gold Limited 

Category

Tonnes

Grade (g/t)

Gold Ounces

 
Indicated

7 100 000

5.1

1 200 000

 
Inferred

11 000 000

2.3

800 000

 
Total

18 000 000

3.4

2 000 000

NB: Some of the figures are modified from company public data

www.orbisgold.com

4 August 2014

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