Annual and final report for EL 26710 Booda Bore, for the period 24 October 2008 to 22 March 2013

Abstract

The tenement was part of a phosphate exploration joint venture between Minemakers Australia Pty Ltd and Geotech International Pty Ltd. The tenemented area was postulated to be adjacent to the western edge of the Georgina Basin based on regional gravity and magnetics and therefore potentially a place of phosphate deposition during the Cambrian. The joint venture was dissolved in early 2013 on the basis that the tenements had low prospectivity for phosphate and that any phosphate present would be likely to be typical Georgina Basin phosphorite; very high silica content, very low reactivity and therefore unlikely to be able to sold as a beneficiated rock. The alternative development route of downstream processing of mined phosphate rock into a phosphoric acid or fertiliser product via the typical 'wet' process is considered to be an even more difficult sell as the capital costs would be very high. Minemakers has decided to focus on the development of its Wonarah deposit and manufacture of superphosphoric acid using a proprietary, cheaper process and consequently is not interested in further greenfields phosphate exploration.