Summary

Mine Type	Open Pit
Study Completed	Prefeasibility
Commodities	Heavy Minerals Ilmenite Rutile Leucoxene Zircon
Mining Method	Dry mining
Mine Life	...
Snapshot	The 2025 Pre-Feasibility Study (PFS) confirms the McLaren deposit’s strong geological continuity and amenability to cost-effective extraction, supporting potential for attractive returns. While current data is high-level and insufficient for an Ore Reserve estimate, it justifies advancing the project.  Key priorities for 2026 include additional resource drilling and optimizing mining parameters to validate robustness under various economic scenarios.  The project is primarily Ilmenite-driven, with a non-magnetic co-product. Marketing began in late 2025, focusing on securing offtake agreements for sulfate ilmenite products.  A core strength is the product quality: a combined TiO2 + FeO + Fe2O3 content of =96% significantly exceeds the industry standard (>90%) for titanium slag manufacture, offering a clear competitive advantage.

Deposit type

• Mineral sands

Summary:

The McLaren Project is underlain by units of the Precambrian Albany Fraser Orogen, with the units structurally aligned along a northeast to southwest trend. Superimposed upon this structural framework are prominent palaeo-channels, ancient drainage lines that have been in existence since the Eocene Epoch (56–39 Ma). The McLaren HM deposit is not considered as “mature” as many other HM deposits surrounding the Eucla Basin (e.g. Cyclone, Jacinth) which have undergone extensive reworking and winnowing within beach sand dune settings, thereby increasing the concentration of the HM, and conversely decreasing the volume of Slimes.

The 2025 drilling completed to support the MRE update has confirmed the McLaren deposit as being hosted within the Miocene–Eocene shoreline sands, flanked by paleo channels to the west and displaying variable surface reworking across the main deposit area. Re-interpretation of the geological domain identified a previously unrecognised lower marine unit, enhancing the depth of identified mineral bearing Marine sediments and contributing to the Resource uplift. Mineralisation dominated by ilmenite, rutile, leucoxene and zircon within the sand “Mids” fraction (38 µm – 1 mm) extends ~5 km east–west and ~8.5 km north–south.

Exhibiting strong geological continuity, the presentation of geological setting hosting the mineralising beds, is now open for further assessment allowing strike as mineral hosting sediment termination is yet to be defined. Supported by variography and drill spacing, improved geological understanding of the depositional environment has broader positive implications beyond that of the deposit area.

Dimensions
Mineralisation is modelled over a strike length of approximately 10,000 m, with a plan width of between 3,400 m and 6,500 m. Mineralisation varies in depth from the natural surface to 35m.

Mining Methods

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Comminution

Crushers and Mills

Processing

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Commodity Production

Operational metrics

Metrics
Annual processing rate	....
Ore tonnes mined, LOM	....

Personnel

Job Title	Name	Profile	Ref. Date
.......................	.......................		Jan 26, 2026
.......................	.......................		Jan 26, 2026