Spinifex Bore Project Annual technical report for the period 29 November 2015 to 28 November 2016 ML 28614

Abstract

The Harts Range Garnet Project on ML 28614 is located along the valley of the Plenty River and covers approximately 4,815 hectares. ML 28614 is in the centre of a tenement block including EL 24360, EL 30318 and EL 28696. It has a garnet resource estimated to contain 23.1Mt of sand containing 1.2Mt of garnet in the measured category and 44.5Mt of sand containing 2.65Mt garnet in the Inferred category. ML 28614 also contains a bore field which can supply process water at a rate of 1,210 m3/day (14 l/s). The garnet resource and the identified water source are the key factors underlying the future success of the project. Mining began in September 2016. During the 2015-2016 exploration period Australian Abrasive Minerals Pty Ltd (AAM) have invested $12.7m to: Complete construction of the separation plant and; Commence mining.