Mineral Resources
Resource Statement released February 2020.
Project Mineral Resources (JORC) for the WPIOP and wider Pilbara tenements totals 2.83Bt (inclusive of Ore Reserves).
West Pilbara Iron Ore Project Stage 1 Deposits (Total)
| Joint Venture | JORC Classification | Mt | Fe% | SiO2% | Al2O3% | LOI% | P% |
|---|---|---|---|---|---|---|---|
| WPIOP - Total | Measured | 616 | 57.97 | 5.48 | 3.09 | 7.87 | 0.109 |
| Indicated | 719 | 56.07 | 6.69 | 3.59 | 8.85 | 0.071 | |
| Inferred | 153 | 55.62 | 6.80 | 3.80 | 9.13 | 0.070 | |
| Total | 1,489 | 56.81 | 6.20 | 3.41 | 8.47 | 0.086 |
In-situ resource estimates for each CID deposit used a 52% Fe cut. The Hardey BID deposit used a 55% and 57% Fe cut. Mineral Densities range from 2.4 to 3.0.
West Pilbara Iron Ore Project (Channel Iron Deposits) Stage 1
| Joint Venture | JORC Classification | Mt | Fe% | SiO2% | Al2O3% | LOI% | P% |
|---|---|---|---|---|---|---|---|
| WPIOP - Total | Measured | 510 | 57.24 | 5.84 | 3.25 | 8.38 | 0.100 |
| API + Red Hill JV | Indicated | 697 | 56.94 | 6.76 | 3.62 | 8.91 | 0.070 |
| Inferred | 130 | 55.09 | 7.06 | 4.01 | 9.43 | 0.063 | |
| Total | 1,337 | 56.35 | 6.45 | 3.52 | 8.76 | 0.081 |
West Pilbara Iron Ore Project (Bedded Iron Deposit) Stage 1 - Hardey Project
| Joint Venture | JORC Classification | Mt | Fe% | SiO2% | Al2O3% | LOI% | P% |
|---|---|---|---|---|---|---|---|
| API 100% | Measured | 106 | 61.47 | 3.74 | 2.33 | 5.42 | 0.148 |
| Indicated | 23 | 60.04 | 4.12 | 2.54 | 6.84 | 0.099 | |
| Inferred | 23 | 58.71 | 5.32 | 2.59 | 7.38 | 0.108 | |
| Total | 151 | 60.84 | 4.03 | 2.40 | 5.92 | 0.134 |
West Pilbara Iron Ore Project Stage 1 by JV
| Joint Venture | JORC Classification | Mt | Fe% | SiO2% | Al2O3% | LOI% | P% |
|---|---|---|---|---|---|---|---|
| API 100% | Measured | 353 | 58.57 | 5.30 | 2.67 | 7.60 | 0.129 |
| Indicated | 267 | 55.66 | 7.32 | 3.14 | 9.18 | 0.074 | |
| Inferred | 49 | 56.55 | 6.77 | 2.93 | 8.60 | 0.081 | |
| Total | 668 | 57.26 | 6.22 | 2.87 | 8.30 | 0.104 |
| Joint Venture | JORC Classification | Mt | Fe% | SiO2% | Al2O3% | LOI% | P% |
|---|---|---|---|---|---|---|---|
| Red Hill JV (API 60% and earning to 81%) | Measured | 264 | 57.17 | 5.72 | 3.67 | 8.24 | 0.081 |
| Indicated | 452 | 56.30 | 6.32 | 3.85 | 8.65 | 0.069 | |
| Inferred | 104 | 55.19 | 6.82 | 4.21 | 9.38 | 0.064 | |
| Total | 820 | 56.44 | 6.19 | 3.84 | 8.62 | 0.073 |
West Pilbara Iron Ore Project (Channel Iron Deposits) Other than Stage 1
| Joint Venture | JORC Classification | Mt | Fe% | SiO2% | Al2O3% | LOI% | P% |
|---|---|---|---|---|---|---|---|
| API 100% | Measured | - | - | - | - | - | - |
| Indicated | 140 | 56.01 | 6.61 | 3.92 | 8.70 | 0.063 | |
| Inferred | 1,079 | 55.17 | 7.35 | 3.69 | 9.47 | 0.062 | |
| Total | 1,219 | 55.27 | 7.27 | 3.71 | 9.39 | 0.062 |
West Pilbara Iron Ore Project (Bedded Iron Deposits) Other than Stage 1
| Joint Venture | JORC Classification | Mt | Fe% | SiO2% | Al2O3% | LOI% | P% |
|---|---|---|---|---|---|---|---|
| API 100% | Measured | - | - | - | - | - | - |
| Indicated | 9 | 58.53 | 5.77 | 2.68 | 7.36 | 0.113 | |
| Inferred | 11 | 57.26 | 7.26 | 2.79 | 7.57 | 0.117 | |
| Total | 20 | 57.84 | 6.58 | 2.74 | 7.47 | 0.115 |
West Pilbara Iron Ore Project (Detrital Iron Deposit)
| Joint Venture | JORC Classification | Mt | Fe% | SiO2% | Al2O3% | LOI% | P% |
|---|---|---|---|---|---|---|---|
| API - Mt Elvire (API 100%) | Measured | - | - | - | - | - | - |
| Indicated | - | - | - | - | - | - | |
| Inferred | 101 | 54.4 | 11.94 | 3.60 | 5.76 | 0.08 | |
| Total | 101 | 54.4 | 11.94 | 3.60 | 5.76 | 0.08 |
| JORC Classification | Mt |
|---|---|
| Measured | 616 |
| Indicated | 868 |
| Inferred | 1,344 |
| Total | 2,828 |
Competent Person Statement
The Competent Person responsible for the geological interpretation and the drill hole data used for the West Pilbara Iron Ore Project - Stage 1 (including Hardey) and the Kumina Creek, Robe Exit, Downey, Grohl and Paracelsus Mineral Resources estimation is Mr Michael Wall who is a full-time employee of API Management Pty Ltd, and Member of the Australasian Institute of Mining and Metallurgy. Mr Wall has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity for which he is undertaking to qualify as a Competent Person as defined in the JORC Code (2012 edition). Mr Wall consents to the inclusion of the matters based on his information in the form and consent in which it appears.
The information in this statement which relates to the West Pilbara Iron Ore Project - Stage 1 and the Kumina Creek and Robe Exit Mineral Resources is based on information compiled by Mr Richard Gaze who is a full-time employee of Golder Associates Pty Ltd, and is a Member and Chartered Professional of the Australasian Institute of Mining and Metallurgy. Mr Gaze has sufficient relevant experience to the style of mineralisation and type of deposit under consideration and to the activity for which he is undertaking to qualify as a Competent Person as defined in the JORC Code 2012.
The information above that relates to West Pilbara Iron Ore Project (other than Stage 1) Mineral Resource estimates was prepared under the supervision of Mr Stuart Tuckey. Mr Tuckey is a member of the Australasian Institute of Mining and Metallurgy and a former full-time employee of API Management Pty Ltd. Mr Tuckey has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Persons as defined in the 2004 Edition of the ‘Australasian Code of Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Tuckey consents to the inclusion of the matters based on his information in the form and context in which it appears.
Ore Reserves
Reserve Statement released September 2015.
WPIOP Stage 1 Ore Reserve
| Ore Reserve | JORC Classification | Mt | Fe% | SiO2% | Al2O3% | LIO% | P% |
|---|---|---|---|---|---|---|---|
| Product 1 (WPF1) | Proved | 200 | 58.0 | 5.2 | 3.5 | 7.8 | 0.08 |
| Probable | 444 | 57.6 | 5.5 | 3.1 | 8.4 | 0.08 | |
| Total Ore | 643 | 57.7 | 5.4 | 3.2 | 8.2 | 0.08 | |
| Product 2 (WPF2) | Proved | 20 | 54.3 | 7.9 | 4.6 | 9.0 | 0.08 |
| Probable | 117 | 54.6 | 8.2 | 3.7 | 9.2 | 0.08 | |
| Total Ore | 137 | 54.5 | 8.1 | 3.8 | 9.2 | 0.08 | |
| TOTAL (WPF1 + WPF2) | Proved | 220 | 57.6 | 5.5 | 3.6 | 7.9 | 0.08 |
| Probable | 560 | 57.0 | 6.1 | 3.2 | 8.5 | 0.08 | |
| Total Ore | 780 | 57.2 | 5.9 | 3.3 | 8.4 | 0.08 | |
| Waste (dmt) | 601 | ||||||
| Strip Ratio1 (waste:ore) | 0.75 |
1Strip ratio is the ratio of mined waste to mined ore (which is slightly higher than product ore due to recovery losses).
Competent Person Statement
The Competent Person responsible for the geological interpretation and the drill hole data used for the resource estimation is Mr Stuart Tuckey who is a full-time employee of API Management Pty Ltd, and Member of the Australasian Institute of Mining and Metallurgy. Stuart Tuckey has sufficient relevant experience to the style of mineralisation and type of deposit under consideration and to the activity for which he is undertaking to qualify as a Competent Person as defined in the JORC Code 2012.
The information which relates to Mineral Resource is based on information complied by Mr Richard Gaze who is a full-time employee of Golder Associates Pty Ltd, and Member and Charter Professional of the Australasian Institute of Mining and Metallurgy. Richard Gaze has sufficient relevant experience to the style of mineralisation and type of deposit under consideration and to the activity for which he is undertaking to qualify as a Competent Person as defined in the JORC Code 2012.
The information that relates to the WPIOP Ore Reserve estimate is based on information compiled and reviewed by Ms Kate Sommerville, a Competent Person who is a Member of the Australasian Institute of Mining and Metallurgy. Ms Sommerville is a full time employee of AMC Consultants Pty Ltd. Ms Sommerville has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the JORC Code 2012.