The iron mineralisation is related to the extensive Banded Iron Formation (BIF) that occurs throughout the tenements. These outcrop over a combined strike length of at least 80 km. Aerial magnetics data shows that BIF units totalling at least 300 km of strike occur within the tenements, mostly under shallow cover.

The focus of this document is the hematite/goethite style of mineralisation.

MMS’s tenements cover most of the Yerilgee Greenstone Belt which is over 80 kilometres in length and up to 10 kilometres wide, and lies within the Southern Cross Province of the Yilgarn Craton. The Yilgarn Craton consists of multiple lenticular greenstone belts surrounded by variably foliated gneissic granitoids.

The greenstone belts consist of metamorphosed ultramafic, mafic and sediments, including banded iron formation (BIF) which are Archaean in age and are commonly intruded by mafic, intermediate and granitic rocks.

The greenstone belts are generally metamorphosed to mid greenschist facies towards the central parts of the belt and lower amphibolite facies on the edges of the belt where they are in contact with the granitoids.

The greenstone belts are highly deformed, faulted and folded. Four deformation events are recognised regionally throughout the Yilgarn Craton:

D1 - movement along the south-north direction

D2 and D3 - shortening and shear movements in the ENE-WSW compression direction

D4 - La ........

Two mining methods were evaluated for the Ularring Hematite Project, being conventional Excavate, Load and Haul (“ELH”) and Continuous Mining. The strength characteristics of the deposit and waste material are suitable for both mining methods, with minimal blasting required.

This study has assumed conventional ELH for all mining as:

- The close proximity of waste dumps are well suited to conventional surface mining trucks;

- Conventional ELH equipment fleets can be readily relocated from pit to pit;

- Conventional ELH for both ore and waste mining will minimise equipment interaction in small pits;

- The short haul distance from the Snark and Drabble Downs pits is suitable for conventional mining trucks; and

- The unit cost rates are lower.

Road trains will be utilised for ore haulage from pit rim to ROM for the Central and Banjo pits.

The Ularring Iron deposits crop-out at surface, and tend to be relatively narrow across strike and elongated along strike. The base of the mineralisation being considered in this study occurs at between 40m to 50m below the surrounding countryside, meaning that resultant pits will be relatively shallow. The rock type is generally friable, except for some caprock cover at the surface.

- subscription is required.

- subscription is required.

The source of water is a fractured rock aquifer system located approximately 26 km to the South of the MOC. The water is located on a mining leases held by MIO. The source was identified during exploration drilling by MIO.

The UHP bore field design is based upon 5 bores (three duty and two standby). Each bore has an assumed capacity of 6 L/s with a 750m spacing between bores. Bores will be either 150 or 200mm diameter with bore casings constructed of Glass Reinforced Plastic (GRP). Bore pumps will be submersible and constructed of material suitable for the high salinity groundwater. The overall capacity of the bore field is intended to be 30 L/s (2.6 ML/day).

The bore field configuration has been assumed to be a linear arrangement with a collector tank in the centre. Collector mains will range in size between DN100 to DN250 to cater for the changing flow conditions along the collector main. The assumed pipe material is high density polyethylene (HDPE) with the pressure class varying depending on hydraulic conditions and installation method. Collector mains will be buried. Bores will be automatically controlled and monitored via a SCADA system with centralised control at the mine site. Communications between the bores and the mine site is assumed to be by radio
links.

Power for the bore field will be provided by diesel powered generators. The MOC power generation contractor will be engaged to provide the bore field power generation plant and operational services.

The assumptions adopted in preparing the bore field installation costs are summarised below:

- A combined project water demand of 8.4l/s of fresh water;
- A recovery from desalination of 60%, giving a raw water demand of 14 l/s;
- A production bore duty rate of 6 l/s, giving three duty bores with the allowance two additional bores on standby.

- Fractured rock bore design based on the following:
- Production bore casing 155 mm Nominal Diameter (ND) class 9 UPVC o bore depths of 100 m;
- and all holes to be drilled using air rotary methods.

- Palaeochannel bore design based on the following:
- Production bore casing 155 mm Nominal Diameter (ND) class 9 UPVC;
- surface casing to 18 m using 255 mm ND steel, cement grouted to prevent interaction with near surface (calcrete) aquifers;
- bore depths of 80 m;
- and all holes drilled using mud rotary methods.

It is proposed that the bore field water will be transferred from the bore field storage tank via packaged transfer pump and a pipeline to the Ularring MOC Reverse Osmosis (RO) plant storage pond.