McCalls Project

A Mineral Resource update for the McCalls Project has been reported to Sheffield's October 2018 Mineral Resource and Reserve Statement (see ASX release 03 October 2018) in compliance with JORC 2012 Reporting Code. The McCalls project contains two deposits, McCalls and Mindarra Springs, located 90 to 110km to the north of Perth and north of the town of Gingin in Western Australia. The project is located close to the rail line connecting to the ports of Geraldton to the north and Kwinana/Fremantle rail 160km to the south.The Brand Highway and Moora to Bindoon road run either side of the project.

The Mineral Resources inventory attributable to the McCalls Project as at 1 October 2018, reported by JORC Code classification and above a cut-off grade of 1.1% total heavy minerals (THM). A combined McCalls project Mineral Resource totalling 5.8Bt @ 1.4% HM (Indicated and Inferred) containing 75Mt of VHM, has been achieved across the two deposits. The Mineral Resource estimate for the McCalls Project (at 1.1% HM cut-off) is 75,340kt of contained VHM comprising of 66,800kt of ilmenite, 3.950kt of zircon, 2,020kt of rutile and 22,570kt of leucoxene.

Significantly, the McCalls Project contains 67mt of chloride grade ilmenite, ranking it as one of the largest accumulations of chloride grade ilmenite in the world.