Annual and Final Report for ML 27244 Wonarah Mineral Lease for the period 19 February 2017 to 23 May 2017

Abstract

ML 27244 forms part of the Wonarah Phosphate Project (along with EL 29840, EL 29841 and EL 29849), and is located approximately 240 km east-southeast of Tennant Creek. Minemakers Australia Pty Ltd is seeking to develop a large sedimentary phosphate deposit within the Georgina Basin. The project area has two principal areas of exploration focus; Main Zone and Arruwurra. The geology of the Main Zone 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 main units; the Transitional Phosphorite, the Transition Sediments, the Chert Breccia Phosphorite, the Mudstone Phosphorite (main phosphate bearing unit) and the Convolute Mudstone. The Wonarah Formation overlies the Upper Gum Ridge Formation and consists of mudstone, siltstone and sandstone. The geology of Arruwurra is essentially similar with some minor differences. The Mineral Resource estimation for both Main Zone and Arruwurra is 842 Mt at 18.1% P2O5 (10% P2O5 % cut-off). The resource lies mostly within ML 27244 but extends onto adjacent Minemakers Australia's tenements. No work was completed during the reporting period and ML 27244 was surrendered on 23 May 2017 as part of a cost reduction strategy pending successful commercialisation of the Improved Hard Process method of phosphate beneficiation, the method Minemakers Australia is proposing for treatment of Wonarah phosphate rock. Minemakers Australia has maintained tenure has over the main Wonarah phosphate deposits through existing exploration licences and the granting of a new licence, EL 31477.