Dubbo Project resources and reserves

The Dubbo Project is based on the Toongi deposit.

The orebody is predominantly a massive fine-grained trachyte outcrop of Jurassic age. It has elevated levels of light and heavy rare earths, zirconium, niobium and hafnium.

The reportable Dubbo Project Mineral Resources and Reserves are based on the open pittable Toongi deposit, which has a depth extent of 115 metres below surface.

These Mineral Resources are wholly inclusive of Ore Reserves, which are based on economic parameters applied to the Mineral Resources, reflecting an initial project horizon of 20 years.

Dubbo Project Mineral Resources

Resource Category	Tonnes   (Mt)	ZrO2   (%)	HfO2   (%)	Nb2O5   (%)	Ta2O5   (%)	Y2O3   (%)	TREO*   (%)
Measured	42.81	1.89	0.04	0.45	0.03	0.14	0.74
Inferred	32.37	1.90	0.04	0.44	0.03	0.14	0.74
Total	75.18	1.89	0.04	0.44	0.03	0.14	0.74

*TREO% is the sum of all rare earth oxides excluding ZrO2, HfO2, Nb2O3, Ta2O5, Y2O3

 

Dubbo Project Ore Reserves

Reserve Category	Tonnes   (Mt)	ZrO2   (%)	HfO2   (%)	Nb2O5   (%)	Ta2O5   (%)	Y2O3   (%)	TREO*   (%)
Proved	18.90	1.85	0.04	0.440	0.029	0.136	0.735
Probable	0
Total	18.90	1.85	0.04	0.440	0.029	0.136	0.735

*TREO% is the sum of all rare earth oxides excluding ZrO2, HfO2, Nb2O3, Ta2O5, Y2O3

Note: This information is extracted from the Company’s ASX Announcement dated 29 July 2020 titled “Information Memorandum and Demerger Booklet”. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the Ore Reserves and Mineral Resource Estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market.