The Medcalf Project lies in the Archaean aged Lake Johnston greenstone belt in the southern portion of the Youanmi Terrane, part of the Yilgarn Craton. This belt is a narrow north-northwest trending belt, approximately 110 km in length. It is located near the south margin of the Yilgarn Craton, midway between the southern ends of Norseman-Wiluna and the Forrestonia-Southern Cross greenstone belts.

The Medcalf Project lies within the Medcalf Layered Sill, which is a flat lying Igneous body which has intruded parallel to the enclosing volcanic strata basalt, prior to regional metamorphism.

Five separate zones of vanadium-titanium-iron mineralisation have been identified within the project area and named the Vesuvius, Fuji, Pinatubo, Kilimanjaro and Egmont prospects. In the Medcalf deposit vanadium, titanium and iron have been concentrated in a pyroxenite unit, which has subsequently been enriched in these metals through weathering and regolith formation.

In the mineralised areas the magnetite-rich sequence is deeply weathered, with +60m of saprolite showing vertical zonation of weathering minerals due to progressive weathering. The fully developed lateritic weathering profile is divisible into four zones. Starting from the top, they are lateritic residuum, mottled zone, saprolite and saprock. All the vanadium-titanium-iron mineralisation lies in the saprolitic zone.

The geological interpretation has divided the Medcalf Project into t ........

The project will initially comprise three open pits (Egmont, Vesuvius and Fuji), a processing plant, private haul road, road train transfer area and associated infrastructure such as laydown areas, gravel pits, groundwater bores, workshops and an accommodation village. The three pits will be developed to a maximum depth of around 50 m below surface with no expected dewatering requirements.

According to 2022 PFS pits design will have following parameters:
- Bench Height - 4.0m;
- Berm width 4.0m;
- Batter angle - 85°;
- Crest to crest 42.60°.

For Vesuvius-Fuji 1 the ramp was designed running from east to west with the final lower stage of the ramp turning towards the north. The ramp utilised the flat dipping nature of the pit wall to minimise waste mining in accessing the targeted ore.

For Vesuvius-Fuji 2 the ramp design follows a west to east direction. All the ramps are 25m in width and have a 1 in 10 (10%) gradient.

Following completion of the pit designs, material was reported for use in the production schedule using an 8%TiO2 cut-off grade to achieve a target 12% TiO2 feed grade.

The schedule mines at a constant mining rate of 0.8Mt per quarter (3.2Mtpa). This mining rate is maintained throughout the mine life until the final two quarters in year 6.

The schedule commences with the lower strip ratio pits of Vesuvius-Fuji 1 and Egmont with mining commencing in Vesuvius-Fuji 2 in year 2.

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