Annual and Final Report for EL 26451 Dalmore Downs for the period 31 March 2008 to 19 March 2013

Abstract

This Annual and Final Report details work completed on EL 26451 from 31 March 2008 to 19 March 2013. The tenement was held and operated by Minemakers Australia Pty Ltd as part of the Wonarah Phosphate Project, with phosphate being the target commodity. The project area lies around a palaeohigh within the Georgina Basin. In 1967 the area was first pegged for phosphate potential by IMC Development Corporation and Minemakers Australia Pty Ltd has held the titles since 2008. Work since 2008 has defined two areas of JORC resources on the project area on ML 27244, EL 26452 and EL 26451. The local geology comprises basement granite of Palaeoproterozoic age, unconformably overlain by basalt of the Helen Springs Volcanics. The volcanics are unconformably overlain by dolomitic rocks of the Thorntonia Limestone equivalent in part. The overlying phosphate-bearing Upper Gum Ridge Formation is divided locally into five units and is overlain by mudstone, siltstone and sandstone of the Wonarah Formation. Minemakers drilled 9 water search holes in 2009, 19 reconnaissance RC exploration holes in 2010, 59 RC resource holes in 2011 and 13 RC exploration holes in 2012. Excluding water search holes, 4924 metres of RC drilling were completed. A total of 1585 samples were submitted for analysis. Some shallow mineralisation was intercepted in the far northwest part of the tenement: WNRC1553 with 9m @20.8% P2O5 from 18m and WNRC1762 with 12m @ 15.3% P2O5 from 28m. A JORC resource was estimated for mineralisation directly north of the Main Zone with the grade and thickness of ore similar to that in the Main Zone to the south on ML 27244. Significant results included WNRC1652 with 12m @ 24.4% P2O5 from 48m depth, WNRC1601 with14m @ 16.7% P2O5 from 35m depth and WNRC1649 with 12m @ 21.1% P2O5 from 41m depth. Several kilometres north of the JORC resource on EL 26451, wide-spaced drilling has shown that the mineralisation continues with results like WNRC1564 with19m @ 20.3% P2O5 from 43m depth and WNRC1567 with 15m @ 23.0% P2O5 from 46m depth. An updated mineral resource estimation for the project as a whole was completed and a Measured Resource was defined for the first time. The total Measured, Indicated and Inferred Resource for both Main Zone and Arruwurra on ML 27244, EL 26452 and EL 26451 now totals 842 Mt at 18% P2O5 (10% 2O5 % cut-off) including a Measured Resource of 78.3 Mt at 20.8% P2O5. There is now a significant phosphate resource on EL 26451 and good potential to increase it further. The tenement was surrendered on 19 March 2013 in order to be amalgamated with another Minemakers tenement into EL 29849. Exploration will continue on the new tenement.