September 19, 2017

Dubbo Project Resource and Reserve Statements FY17

  • Mineral Resources and Ore Reserves for the Toongi deposit within the Dubbo Project have been independently re-estimated to account for revised estimated operating costs, product revenues and regulatory approved site layouts:
    • Total Mineral Resources
      • 75.18Mt @ 1.89% ZrO2, 0.04% HfO2, 0.44% Nb2O5, 0.03% Ta2O5, 0.88% TREO*
    • Total Ore Reserves
      • 18.90Mt @ 1.85% ZrO2, 0.04% HfO2, 0.44% Nb2O5, 0.03% Ta2O5, 0.87% TREO* * = total rare earth oxides plus yttrium oxide
  • The Toongi deposit is a very large open pittable resource of zirconium (Zr), hafnium (Hf), niobium (Nb), tantalum (Ta), yttrium (Y) and the rare earth elements lanthanum (La), cerium (Ce), praseodymium (Pr), neodymium (Nd), samarium (Sm), europium (Eu), gadolinium (Gd), terbium (Tb), dysprosium (Dy), holmium (Ho), erbium (Er), thulium (Tm), ytterbium (Yb), lutetium (Lu).
  • Over several years, Alkane Resources subsidiary, Australian Strategic Materials Ltd (ASM) has developed a flow sheet to recover all of these metals, except tantalum.
  • The flow sheet has been proved through a demonstration pilot plant at ANSTO since 2008 enabling optimisation of capital and operating costs, and supply of samples for product certification to end users.
  • A definitive feasibility study was completed in 2013; front end engineering design (FEED) in 2015; and a revised modularised and staged construction concept is in progress to provide a bankable level study.
  • Many of these metals are required for modern advanced technologies with supply chains subject to critical issues.
  • The Proved Ore Reserve will support an initial 20 year mine life.

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