Annual Technical Report ML 28264, ML 28266, ML 28267, ML 28962, ML 28963 and ML 29628 Nathan River Iron Ore Mine GR475 for the period 29 June 2017 to 28 June 2018

Abstract

The Nathan River Iron Ore Mine (the project) consists of six granted mineral leases (ML's 28264, 28266, 28267, 28962, 28963 and 29628) which are owned by Britmar (Aust) Pty Ltd and operated by NRR Logistics Pty Ltd (NRR). The project is located about 240 km east of Mataranka in the Gulf Country of the Northern Territory. The commodity sought is hematitic iron ore within the Clinton-type oolitic ironstones of the Sherwin Formation. Geologically, the project is situated within the Bauhinia Shelf of the McArthur Basin. The McArthur Basin is an intracratonic platform basin of Palaeo to Mesoproterozoic age. Mining within the area has concentrated on the Sherwin Formation within the Maiwok Subgroup of the Roper Bar Group. The project was previously operated by Western Desert Resources Ltd (WDR) until September 2014 when the company entered into administration due to declining iron ore prices. WDR commenced mining operations at Area F East and Area E East in October 2013, and shipped approximately 1.3 Mt of iron ore from January 2014 until the cessation of operations. There have been no exploration or mining activities carried out on the project since that time. Approximately 38,000t of crushed rock, sourced from stockpiled materials at Bing Bong Loading Facility, was barged to Mornington Island during the period May to July 2018. It is planned that mining will recommence at Area F East pit during the next reporting period with a planned production of 1 Mta of iron ore to shipped through the Bing Bong Loading Facility.