SCN: Annual Report to shareholders
Original announcement by asx on
- Company
- SCORPION MINERALS LIMITED
- Ticker
- SCN
- Exchange
- ASX
- Region
- Western Australia
- Primary commodity
- Gold
- Secondary commodities
- Copper, Zinc, Cobalt, Silver
- Document categories
- Resource update, Drill results, Capital raise
- Extracted
- 2026-09-30 09:23:17 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Scorpion Minerals Limited's annual report highlights a mixed operational and financial year. The company reported historical JORC-compliant resource estimates for the Old Prospect gold deposit (312,395 t @ 2.15 g/t Au) and the Mt Mulcahy copper deposit (647,000 t @ 2.4% Cu, 1.8% Zn, 0.1% Co, 20 g/t Ag, 0.2 g/t Au). New exploration activities included positive gold drill intercepts at Cap Lamp, such as 5m @ 2.59 g/t Au from 6m, and the release of a new gold exploration target for Old Prospect. Financially, the company secured a binding option agreement with Andel Resources, including a $2 million option fee and future funding options, but the report also noted a material uncertainty regarding its ability to continue as a going concern due to an operating loss and working capital deficit.
Reasoning: Scorpion Minerals Limited's annual report presents a mixed outlook, with new gold drill results and an exploration target, coupled with a significant funding option agreement for its Old Prospect project. However, the financial statements highlight a material uncertainty regarding the company's ability to continue as a going concern due to ongoing operating losses and a working capital deficit, and the reported resource estimates are historical.
Positive factors
- Option agreement for Old Prospect with funding
- New gold exploration target at Old Prospect
- Positive gold drill intercepts at Cap Lamp
- Strategic partnerships established
- Government co-funding for airborne magnetic survey
Negative factors
- Material uncertainty regarding going concern
- Operating loss and working capital deficit
- Resource estimates are historical (2021 and 2014)
- Cut-off grades for resource estimates not disclosed
- No true width disclosed for drill intercepts
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 26
Classification and evidence
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The Old Prospect North and South deposits include significant inferred resources, which are speculative and have lower geological confidence.
Evidence · text
“Inferred 62,637 2.46 4,961”
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: The Old Prospect resource estimate has an effective date of 19 November 2021, which is over two years old.
Evidence · text
“Refer OZZ ASX release 19 November 2021 and SCN ASX release 23 December 2025 for full details”
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: The document does not disclose the cut-off grade used for the Old Prospect resource estimate.
Evidence · text
“Table 1: Mineral Resource Estimate – Old Prospect North and Old Prospect South”
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: The Mt Mulcahy deposit includes a measured resource of 193,000 tonnes, indicating the highest level of geological confidence.
Evidence · text
“Measured 193,000 3.0 2.3 0.1 25 0.3 5,800 4,400 220 157,000 2,000”
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The Mt Mulcahy deposit includes an indicated resource of 372,000 tonnes, showing reasonable geological confidence.
Evidence · text
“Indicated 372,000 2.2 1.7 0.1 19 0.2 8,200 6,300 330 223,000 2,000”
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: The Mt Mulcahy resource estimate has an effective date of 25 September 2014, which is over two years old.
Evidence · text
“Refer SCN ASX release 25 September 2014 for full details, including a list of significant drill intersections for the deposit”
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: The document does not disclose the cut-off grade used for the Mt Mulcahy resource estimate.
Evidence · text
“Table 3: Mineral Resource Estimate – South Limb Pod (Mt Mulcahy)”
Polymetallicneutral · Story-specific tag
No canonical definition is currently available.
Why it applies: The Mt Mulcahy deposit reports grades for multiple commodities including copper, zinc, cobalt, silver, and gold.
Evidence · text
“647,000 tonnes @ 2.4% copper, 1.8% Zn, 0.1% Co and 20g/t Ag”
Bonanza Interceptpositive
Exceptionally high-grade zone, well above the deposit-type norm.
Why it applies: The intercept of 1m @ 9.52 g/t Au is exceptionally high-grade for gold, exceeding the exceptional threshold for open pit deposits.
Evidence · text
“1m @ 9.52 g/t Au from 5m – clay-hosted enrichment (CLRC006)”
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: The release explicitly states that the company employs strict quality control procedures during sample collection and analysis, including blanks, standards and duplications, consistent with JORC standards.
Evidence · text
“The Company provides transparent reporting with quality control in sampling and drilling techniques and employs strict quality control procedures during sample collection and analysis, including blanks, standards and duplications. These protocols are consistent with JORC standards and ASX Listing Rules.”
Apparent Width Onlynegative
Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness.
Why it applies: The drill intercepts are given as downhole lengths without any mention of true width or drill orientation.
Evidence · text
“5m @ 2.59 g/t Au from 6m (25PRC005)”
Going Concern Warningnegative · Story-specific tag
No canonical definition is currently available.
Why it applies: The financial statements include a note indicating a material uncertainty regarding the Group’s ability to continue as a going concern due to an operating loss and working capital deficit.
Evidence · text
“material uncertainty exists that may cast significant doubt on the Group’s ability to continue as a going concern”
Capital Raisepositive · Story-specific tag
No canonical definition is currently available.
Why it applies: The company entered into a binding option agreement with Andel Resources, including an upfront option fee of $2 million and the issuance of 30 million unlisted options, providing future funding potential.
Evidence · text
“Andel paid an upfront option fee of $2 million in consideration for the granting of the RTM Option (refer ASX release 9 June 2026), which is exercisable within a period of 12 months from the date of execution (unless mutually extended).”
Exploration Targetpositive · Story-specific tag
No canonical definition is currently available.
Why it applies: The company released an initial Exploration Target for Old Prospect, highlighting potential for gold mineralisation outside the existing resource.
Evidence · text
“The Company has released an initial Exploration Target for Old Prospect, covering areas not included in the existing Mineral Resource Estimate.”
Strategic Partnershippositive · Story-specific tag
No canonical definition is currently available.
Why it applies: The company announced a binding option agreement with Andel Resources and a strategic MOU with Gylden Resources, both owned by an affiliate of Värde Partners, indicating significant strategic backing.
Evidence · text
“In May 2026, the Company announced that it had entered into a binding option agreement with Andel Resources Pty Ltd (“Andel”) in relation to Old Prospect (refer ASX release 18 May 2026). Scorpion had previously entered into a strategic MOU agreement with Gylden Resources Pty Ltd (“Gylden”), the owners of the Kirk. Both Andel and Gylden are owned by an affiliate of global investment firm Värde Partners.”
Extracted facts
Stored fact records: 26. Some facts used in scoring do not have a stored record.
Drill Results (1)
CLRC006Pharos · goldGrade: 9.52Grade Unit: g/tIntercept: 1 mView all detailsHide details
Identity
- Hole ID
- CLRC006
- Project
- Pharos
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- australia_wa
- Ticker
- SCN
Geometry
- Grade
- 9.52
- Grade Unit
- g/t
- Intercept
- 1 m
- From
- 5 m
- To
- 6 m
- Intercept Depth
- 5 m
Classification
- Program
- exploration
- Sample Type
- drill
- Group ID
- CLRC006:5-6
QA/QC
- QA/QC Disclosed
- Yes
- QP Signed
- Yes
- QA/QC Methods
- standards, blanks
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: An exceptionally high-grade gold intercept at shallow depth, indicating bonanza grades, with QA/QC disclosed, but lacking true width information.
Positive factors
- Bonanza Intercept
- QA/QC Disclosed
Negative factors
- Apparent Width Only
Evidence · text
“1m @ 9.52 g/t Au from 5m – clay-hosted enrichment (CLRC006)”
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Nearology Playneutral
Value premise rests on proximity to a known deposit rather than own results.
Why it applies: proximity is offered as the value premise: "Gold mineralisation across the project appears to be hosted within or adjacent to second and third order splays off the "
Resource Estimates (25)
indicatedPharos Project · goldTonnes: 149879Grade: 1.91Grade Unit: g/tContained Metal: 9214Contained Unit: ozView all detailsHide details
Identity
- Project
- Pharos Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- SCN
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:3e84b3c74826f2294f59
- Deposit or zone
- Old Prospect North
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 149879
- Grade
- 1.91
- Grade Unit
- g/t
- Contained Metal
- 9214
- Contained Unit
- oz
Prior Estimate
- Resource Date
- 2021-11-19
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This is an indicated gold resource from 2021, providing a moderate level of confidence but its age and undisclosed cut-off grade reduce its current novelty and transparency.
Negative factors
- Stale Estimate
- Cut-off Undisclosed
Evidence · table
“1.91”
Context: 149,879
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 4.9 years before this release
inferredPharos Project · goldTonnes: 62637Grade: 2.46Grade Unit: g/tContained Metal: 4961Contained Unit: ozView all detailsHide details
Identity
- Project
- Pharos Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- SCN
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:18a1f389379a367b42cc
- Deposit or zone
- Old Prospect North
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 62637
- Grade
- 2.46
- Grade Unit
- g/t
- Contained Metal
- 4961
- Contained Unit
- oz
Prior Estimate
- Resource Date
- 2021-11-19
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This inferred gold resource from 2021 has lower confidence due to its category and age, and the undisclosed cut-off grade further limits its transparency.
Negative factors
- Inferred Resource
- Stale Estimate
- Cut-off Undisclosed
Evidence · table
“2.46”
Context: 62,637
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 4.9 years before this release
indicatedPharos Project · goldTonnes: 79429Grade: 2.5Grade Unit: g/tContained Metal: 6385Contained Unit: ozView all detailsHide details
Identity
- Project
- Pharos Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- SCN
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:202623370720c98559d9
- Deposit or zone
- Old Prospect South
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 79429
- Grade
- 2.5
- Grade Unit
- g/t
- Contained Metal
- 6385
- Contained Unit
- oz
Prior Estimate
- Resource Date
- 2021-11-19
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This is an indicated gold resource from 2021, providing a moderate level of confidence but its age and undisclosed cut-off grade reduce its current novelty and transparency.
Negative factors
- Stale Estimate
- Cut-off Undisclosed
Evidence · table
“2.50”
Context: 79,429
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 4.9 years before this release
inferredPharos Project · goldTonnes: 20234Grade: 1.65Grade Unit: g/tContained Metal: 1075Contained Unit: ozView all detailsHide details
Identity
- Project
- Pharos Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- SCN
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:76382a199f5b61d40f6f
- Deposit or zone
- Old Prospect South
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 20234
- Grade
- 1.65
- Grade Unit
- g/t
- Contained Metal
- 1075
- Contained Unit
- oz
Prior Estimate
- Resource Date
- 2021-11-19
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This inferred gold resource from 2021 has lower confidence due to its category and age, and the undisclosed cut-off grade further limits its transparency.
Negative factors
- Inferred Resource
- Stale Estimate
- Cut-off Undisclosed
Evidence · table
“1.65”
Context: 20,234
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 4.9 years before this release
measuredPharos Project · copperTonnes: 193000Grade: 3Grade Unit: %Contained Metal: 5800Contained Unit: tView all detailsHide details
Identity
- Project
- Pharos Project
- Commodity
- copper
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- SCN
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:6d7618ffafddc741e5fb
- Deposit or zone
- South Limb Pod
- Mining method
- open_pit
Resource Data
- Category
- measured
- Tonnes
- 193000
- Grade
- 3
- Grade Unit
- %
- Contained Metal
- 5800
- Contained Unit
- t
Prior Estimate
- Resource Date
- 2014-09-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This measured copper resource from 2014 provides high confidence in the estimate, but its age and undisclosed cut-off grade reduce its current novelty and transparency.
Positive factors
- Measured Resource
Negative factors
- Stale Estimate
- Cut-off Undisclosed
Evidence · table
“3.0”
Context: 193,000
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 12.0 years before this release
measuredPharos Project · zincTonnes: 193000Grade: 4400Grade Unit: tContained Metal: 4400Contained Unit: tView all detailsHide details
Identity
- Project
- Pharos Project
- Commodity
- zinc
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- SCN
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:6d7618ffafddc741e5fb
- Deposit or zone
- South Limb Pod
- Mining method
- open_pit
Resource Data
- Category
- measured
- Tonnes
- 193000
- Grade
- 4400
- Grade Unit
- t
- Contained Metal
- 4400
- Contained Unit
- t
Prior Estimate
- Resource Date
- 2014-09-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This measured zinc resource from 2014 provides high confidence, but its age and undisclosed cut-off grade reduce its current novelty and transparency.
Positive factors
- Measured Resource
Negative factors
- Stale Estimate
- Cut-off Undisclosed
Evidence · table
“4,400”
Context: 193,000
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 12.0 years before this release
measuredPharos Project · cobaltTonnes: 193000Grade: 0.1Grade Unit: %Contained Metal: 220Contained Unit: tView all detailsHide details
Identity
- Project
- Pharos Project
- Commodity
- cobalt
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- SCN
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:6d7618ffafddc741e5fb
- Deposit or zone
- South Limb Pod
- Mining method
- open_pit
Resource Data
- Category
- measured
- Tonnes
- 193000
- Grade
- 0.1
- Grade Unit
- %
- Contained Metal
- 220
- Contained Unit
- t
Prior Estimate
- Resource Date
- 2014-09-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This measured cobalt resource from 2014 provides high confidence, but its age and undisclosed cut-off grade reduce its current novelty and transparency.
Positive factors
- Measured Resource
Negative factors
- Stale Estimate
- Cut-off Undisclosed
Evidence · table
“0.1”
Context: 193,000
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 12.0 years before this release
measuredPharos Project · silverTonnes: 193000Grade: 25Grade Unit: g/tContained Metal: 157000Contained Unit: ozView all detailsHide details
Identity
- Project
- Pharos Project
- Commodity
- silver
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- SCN
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:6d7618ffafddc741e5fb
- Deposit or zone
- South Limb Pod
- Mining method
- open_pit
Resource Data
- Category
- measured
- Tonnes
- 193000
- Grade
- 25
- Grade Unit
- g/t
- Contained Metal
- 157000
- Contained Unit
- oz
Prior Estimate
- Resource Date
- 2014-09-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This measured silver resource from 2014 provides high confidence, but its age and undisclosed cut-off grade reduce its current novelty and transparency.
Positive factors
- Measured Resource
Negative factors
- Stale Estimate
- Cut-off Undisclosed
Evidence · table
“25”
Context: 193,000
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 12.0 years before this release
measuredPharos Project · goldTonnes: 193000Grade: 0.3Grade Unit: g/tContained Metal: 2000Contained Unit: ozView all detailsHide details
Identity
- Project
- Pharos Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- SCN
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:6d7618ffafddc741e5fb
- Deposit or zone
- South Limb Pod
- Mining method
- open_pit
Resource Data
- Category
- measured
- Tonnes
- 193000
- Grade
- 0.3
- Grade Unit
- g/t
- Contained Metal
- 2000
- Contained Unit
- oz
Prior Estimate
- Resource Date
- 2014-09-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This measured gold resource from 2014 provides high confidence, but its age and undisclosed cut-off grade reduce its current novelty and transparency.
Positive factors
- Measured Resource
Negative factors
- Stale Estimate
- Cut-off Undisclosed
Evidence · table
“0.3”
Context: 193,000
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 12.0 years before this release
indicatedPharos Project · copperTonnes: 372000Grade: 2.2Grade Unit: %Contained Metal: 8200Contained Unit: tView all detailsHide details
Identity
- Project
- Pharos Project
- Commodity
- copper
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- SCN
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:df34010e60052d9049bb
- Deposit or zone
- South Limb Pod
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 372000
- Grade
- 2.2
- Grade Unit
- %
- Contained Metal
- 8200
- Contained Unit
- t
Prior Estimate
- Resource Date
- 2014-09-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This indicated copper resource from 2014 provides moderate confidence, but its age and undisclosed cut-off grade reduce its current novelty and transparency.
Positive factors
- Indicated Resource
Negative factors
- Stale Estimate
- Cut-off Undisclosed
Evidence · table
“2.2”
Context: 372,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 12.0 years before this release
indicatedPharos Project · zincTonnes: 372000Grade: 6300Grade Unit: tContained Metal: 6300Contained Unit: tView all detailsHide details
Identity
- Project
- Pharos Project
- Commodity
- zinc
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- SCN
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:df34010e60052d9049bb
- Deposit or zone
- South Limb Pod
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 372000
- Grade
- 6300
- Grade Unit
- t
- Contained Metal
- 6300
- Contained Unit
- t
Prior Estimate
- Resource Date
- 2014-09-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This indicated zinc resource from 2014 provides moderate confidence, but its age and undisclosed cut-off grade reduce its current novelty and transparency.
Positive factors
- Indicated Resource
Negative factors
- Stale Estimate
- Cut-off Undisclosed
Evidence · table
“6,300”
Context: 372,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 12.0 years before this release
indicatedPharos Project · cobaltTonnes: 372000Grade: 0.1Grade Unit: %Contained Metal: 330Contained Unit: tView all detailsHide details
Identity
- Project
- Pharos Project
- Commodity
- cobalt
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- SCN
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:df34010e60052d9049bb
- Deposit or zone
- South Limb Pod
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 372000
- Grade
- 0.1
- Grade Unit
- %
- Contained Metal
- 330
- Contained Unit
- t
Prior Estimate
- Resource Date
- 2014-09-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This indicated cobalt resource from 2014 provides moderate confidence, but its age and undisclosed cut-off grade reduce its current novelty and transparency.
Positive factors
- Indicated Resource
Negative factors
- Stale Estimate
- Cut-off Undisclosed
Evidence · table
“0.1”
Context: 372,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 12.0 years before this release
indicatedPharos Project · silverTonnes: 372000Grade: 19Grade Unit: g/tContained Metal: 223000Contained Unit: ozView all detailsHide details
Identity
- Project
- Pharos Project
- Commodity
- silver
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- SCN
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:df34010e60052d9049bb
- Deposit or zone
- South Limb Pod
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 372000
- Grade
- 19
- Grade Unit
- g/t
- Contained Metal
- 223000
- Contained Unit
- oz
Prior Estimate
- Resource Date
- 2014-09-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This indicated silver resource from 2014 provides moderate confidence, but its age and undisclosed cut-off grade reduce its current novelty and transparency.
Positive factors
- Indicated Resource
Negative factors
- Stale Estimate
- Cut-off Undisclosed
Evidence · table
“19”
Context: 372,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 12.0 years before this release
indicatedPharos Project · goldTonnes: 372000Grade: 0.2Grade Unit: g/tContained Metal: 2000Contained Unit: ozView all detailsHide details
Identity
- Project
- Pharos Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- SCN
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:df34010e60052d9049bb
- Deposit or zone
- South Limb Pod
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 372000
- Grade
- 0.2
- Grade Unit
- g/t
- Contained Metal
- 2000
- Contained Unit
- oz
Prior Estimate
- Resource Date
- 2014-09-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This indicated gold resource from 2014 provides moderate confidence, but its age and undisclosed cut-off grade reduce its current novelty and transparency.
Positive factors
- Indicated Resource
Negative factors
- Stale Estimate
- Cut-off Undisclosed
Evidence · table
“0.2”
Context: 372,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 12.0 years before this release
inferredPharos Project · copperTonnes: 82000Grade: 1.5Grade Unit: %Contained Metal: 1200Contained Unit: tView all detailsHide details
Identity
- Project
- Pharos Project
- Commodity
- copper
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- SCN
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:4822269db8a01ff1196c
- Deposit or zone
- South Limb Pod
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 82000
- Grade
- 1.5
- Grade Unit
- %
- Contained Metal
- 1200
- Contained Unit
- t
Prior Estimate
- Resource Date
- 2014-09-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This inferred copper resource from 2014 has lower confidence due to its category and age, and the undisclosed cut-off grade further limits its transparency.
Negative factors
- Inferred Resource
- Stale Estimate
- Cut-off Undisclosed
Evidence · table
“1.5”
Context: 82,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 12.0 years before this release
inferredPharos Project · zincTonnes: 82000Grade: 1100Grade Unit: tContained Metal: 1100Contained Unit: tView all detailsHide details
Identity
- Project
- Pharos Project
- Commodity
- zinc
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- SCN
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:4822269db8a01ff1196c
- Deposit or zone
- South Limb Pod
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 82000
- Grade
- 1100
- Grade Unit
- t
- Contained Metal
- 1100
- Contained Unit
- t
Prior Estimate
- Resource Date
- 2014-09-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This inferred zinc resource from 2014 has lower confidence due to its category and age, and the undisclosed cut-off grade further limits its transparency.
Negative factors
- Inferred Resource
- Stale Estimate
- Cut-off Undisclosed
Evidence · table
“1,100”
Context: 82,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 12.0 years before this release
inferredPharos Project · cobaltTonnes: 82000Grade: 0.1Grade Unit: %Contained Metal: 60Contained Unit: tView all detailsHide details
Identity
- Project
- Pharos Project
- Commodity
- cobalt
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- SCN
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:4822269db8a01ff1196c
- Deposit or zone
- South Limb Pod
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 82000
- Grade
- 0.1
- Grade Unit
- %
- Contained Metal
- 60
- Contained Unit
- t
Prior Estimate
- Resource Date
- 2014-09-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This inferred cobalt resource from 2014 has lower confidence due to its category and age, and the undisclosed cut-off grade further limits its transparency.
Negative factors
- Inferred Resource
- Stale Estimate
- Cut-off Undisclosed
Evidence · table
“0.1”
Context: 82,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 12.0 years before this release
inferredPharos Project · silverTonnes: 82000Grade: 13Grade Unit: g/tContained Metal: 35000Contained Unit: ozView all detailsHide details
Identity
- Project
- Pharos Project
- Commodity
- silver
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- SCN
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:4822269db8a01ff1196c
- Deposit or zone
- South Limb Pod
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 82000
- Grade
- 13
- Grade Unit
- g/t
- Contained Metal
- 35000
- Contained Unit
- oz
Prior Estimate
- Resource Date
- 2014-09-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This inferred silver resource from 2014 has lower confidence due to its category and age, and the undisclosed cut-off grade further limits its transparency.
Negative factors
- Inferred Resource
- Stale Estimate
- Cut-off Undisclosed
Evidence · table
“13”
Context: 82,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 12.0 years before this release
inferredPharos Project · goldTonnes: 82000Grade: 0.2Grade Unit: g/tView all detailsHide details
Identity
- Project
- Pharos Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- SCN
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:4822269db8a01ff1196c
- Deposit or zone
- South Limb Pod
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 82000
- Grade
- 0.2
- Grade Unit
- g/t
Prior Estimate
- Resource Date
- 2014-09-25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This inferred gold resource from 2014 has lower confidence due to its category and age, and the undisclosed cut-off grade further limits its transparency, with no contained metal reported.
Negative factors
- Inferred Resource
- Stale Estimate
- Cut-off Undisclosed
- No Contained Metal
Evidence · table
“0.2”
Context: 82,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 12.0 years before this release
Fact 20View all detailsHide details
Identity
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- SCN
Resource scope
- Reporting standards
- jorc
- Mining method
- open_pit
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Grant of a significant number of options to a strategic partner, providing potential future funding and indicating a new strategic partnership.
Positive factors
- Capital Raise
Evidence · text
“In June 2026, the Company issued a total of 30,000,000 unlisted options to Andel pursuant to the option agreement, comprising three tranches of 10,000,000 options exercisable at $0.05.”
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredPharos Project · copperTonnes: 647000Grade: 2.4Grade Unit: %Contained Metal: 15200Contained Unit: tView all detailsHide details
Identity
- Project
- Pharos Project
- Commodity
- copper
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- SCN
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:e2cb8e6eee3761acc535
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 647000
- Grade
- 2.4
- Grade Unit
- %
- Contained Metal
- 15200
- Contained Unit
- t
Prior Estimate
- Resource Date
- 2021-11-19
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This inferred gold resource from 2021 has lower confidence due to its category and age, and the undisclosed cut-off grade further limits its transparency. (Expanded from multi-commodity resource table for completeness.)
Negative factors
- Inferred Resource
- Stale Estimate
- Cut-off Undisclosed
Evidence · table
“2.4”
Context: 647,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 4.9 years before this release
inferredPharos Project · zincTonnes: 647000Grade: 11800Grade Unit: tView all detailsHide details
Identity
- Project
- Pharos Project
- Commodity
- zinc
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- SCN
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:e2cb8e6eee3761acc535
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 647000
- Grade
- 11800
- Grade Unit
- t
Prior Estimate
- Resource Date
- 2021-11-19
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This inferred gold resource from 2021 has lower confidence due to its category and age, and the undisclosed cut-off grade further limits its transparency. (Expanded from multi-commodity resource table for completeness.)
Negative factors
- Inferred Resource
- Stale Estimate
- Cut-off Undisclosed
Evidence · table
“11,800”
Context: 647,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 4.9 years before this release
inferredPharos Project · cobaltTonnes: 647000Grade: 0.1Grade Unit: %Contained Metal: 610Contained Unit: tView all detailsHide details
Identity
- Project
- Pharos Project
- Commodity
- cobalt
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- SCN
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:e2cb8e6eee3761acc535
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 647000
- Grade
- 0.1
- Grade Unit
- %
- Contained Metal
- 610
- Contained Unit
- t
Prior Estimate
- Resource Date
- 2021-11-19
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This inferred gold resource from 2021 has lower confidence due to its category and age, and the undisclosed cut-off grade further limits its transparency. (Expanded from multi-commodity resource table for completeness.)
Negative factors
- Inferred Resource
- Stale Estimate
- Cut-off Undisclosed
Evidence · table
“0.1”
Context: 647,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 4.9 years before this release
inferredPharos Project · silverTonnes: 647000Grade: 20Grade Unit: g/tContained Metal: 415000Contained Unit: ozView all detailsHide details
Identity
- Project
- Pharos Project
- Commodity
- silver
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- SCN
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:e2cb8e6eee3761acc535
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 647000
- Grade
- 20
- Grade Unit
- g/t
- Contained Metal
- 415000
- Contained Unit
- oz
Prior Estimate
- Resource Date
- 2021-11-19
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This inferred gold resource from 2021 has lower confidence due to its category and age, and the undisclosed cut-off grade further limits its transparency. (Expanded from multi-commodity resource table for completeness.)
Negative factors
- Inferred Resource
- Stale Estimate
- Cut-off Undisclosed
Evidence · table
“20”
Context: 647,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 4.9 years before this release
inferredPharos Project · goldTonnes: 647000Grade: 0.2Grade Unit: g/tContained Metal: 4000Contained Unit: ozView all detailsHide details
Identity
- Project
- Pharos Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- SCN
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:e2cb8e6eee3761acc535
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 647000
- Grade
- 0.2
- Grade Unit
- g/t
- Contained Metal
- 4000
- Contained Unit
- oz
Prior Estimate
- Resource Date
- 2021-11-19
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This inferred gold resource from 2021 has lower confidence due to its category and age, and the undisclosed cut-off grade further limits its transparency. (Expanded from multi-commodity resource table for completeness.)
Negative factors
- Inferred Resource
- Stale Estimate
- Cut-off Undisclosed
Evidence · table
“0.2”
Context: 647,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 4.9 years before this release
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.