A- | A+ | Print

 

Summary Resources Statements

Karara Magnetite Resources Inclusive of Reserves as at 30 June 2015

Karara Magnetite Resource (using 20% Weight Recovery cut-off grade)
Deposit
Classification
Tonnes
Fe
SiO2
Al2O3
P
S
LOI
JORC 2004
Mt
%
%
%
%
%
%
Karara

Indicated

1,417

36.1

42.8

1.0

0.09

0.12

-0.7

 

Inferred

317

35.5

43.2

1.2

0.09

0.11

-0.8

 

Grand Total

1,735

36.0

42.9

1.0

0.09

0.12

-0.8

20% Weight Recovery cut-off grade has been used to report the Magnetite Resource estimates.

Small discrepancies may occur due to the effects of rounding.

Gindalbie Metals Limited has a 48% attributable interest in KML Magnetite Resources


 

Karara Mining Ltd Hematite Resources Inclusive of Ore Reserves as at 30 June 2015

Deposit
Classification
Tonnes
Fe
SiO2
Al2O3
P
S
LOI
JORC 2004
Mt
%
%
%
%
%
%
Mungada Ridge*

Gully

Inferred

5.1

60.3

5.1

2.4

0.23

0.37

5.7

Mungada South

Inferred

1.5

63.0

3.8

1.6

0.13

0.05

3.5

Skyhook

Inferred

3.2

61.4

6.7

1.5

0.06

0.04

2.8

Tor

Inferred

1.6

61.3

10.9

0.8

0.08

0.03

1.6

Wagon Wheel

Inferred

1.7

61.3

7.1

3.5

0.05

0.02

3.0

Grand Total

13.1

61.1

6.3

2.0

0.14

0.17

3.9

Gindalbie Metals Limited has a 48% attributable interest in Karara Hematite Resources.
All Hematite Resource estimates are reported above a 57% Fe cut-off grade.
*The extrapolated portion of the five Mungada Ridge deposits represents approximately between 10% and 20% of the total tonnage. The extrapolated mineralisation is along strike and down dip and typically extends about 50m from the last sample. The along strike and down dip drillhole spacing ranges from about 50m to 100m.
** Inferred DSO resource contains hematite, transitional and magnetite ore above a 57% Fe cut-off grade

 


 

Competent Person's Statement

For the Year Ended 30 June 2015

The information in this report that relates to the Exploration Results, Mineral Resources and Ore Reserves for Karara is based upon information compiled by Xianglin Cheng. Xianglin Cheng is a member of the Australasian Institute of Mining and Metallurgy (MAusIMM) and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity to which he is undertaking to qualify as a competent person as defined in the 2004 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Xianglin Cheng is a full-time employee of Karara.  Xianglin Cheng consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.