Centralian Iron Oxide Project Annual Report Final EL 32357, Reporting from 28 January 2024 to 27 January 2025

Abstract

Mioxide NT majority shareholder Mioxide Australia (Johannes Bruynzeel) has been very active in the Ngalia Basin since 2010 especially in relation to the Hydro-thermal occurrences of Hematite on the Northern side of the Basin and has located a mineable quantity of Hematite there ( Yalyirimbi iron deposit), Mioxide Australia has been aware for a number of years of the Hematite-quartz breccia's on this Southern side of the Basin for the possibility of adding tonnages of Hematite to the Northern deposits. However over the last 2 years it has become evident that all of the material is suitable to be used as high grade Iron oxides, in relation to the Southern part of the basin it has become clear that the Hematite located there is more friable and its plate like micro-structure de-laminates with ease making it a prime focus for 'A' Grade Micaceous iron oxide for use as an anti-corrosive paint additive and other Industrial uses so this area is of high interest to Mioxide NT. We have been able to produce from composite samples from the outcropping dykes on the lease area, Grade 1 Micaceous iron oxide product we believe that we are well placed with a Lamellar content over 80% and a product that exceeds the ISO 10601 requirements for Grade 1 micaceous iron oxide. As the world market for this product is limited, we are still targeting an operation of 10000 tons per annum, as this is a high value product there would be no doubt that this would be a viable operation if the target sales can be achieved. As we are unable currently to obtain orders for our minimum 5000 tons which is required for economic extraction it has been decided to no longer explore this opportunity. Lease area has been relinquished.