We invite you to watch the following video for a brief overview of some key aspects regarding the geology and mining proposal of the Project.

 

Location and Background

  • Located in the Canning Basin, Kimberley Region; Excellent infrastructure nearby
  • Mississippi Valley Type (MVT) deposit with zinc, lead, silver and barite
  • Discovered in 1981 during petroleum exploration
  • Drilled and assessed by CRA Exploration Pty Ltd from 1986 to 1992 and Kagara Ltd from 2004 to 2009
  • More than $50M* invested to date
  • Two granted ML’s and 1 granted EL covering 25km of mineralisation
  • MCT consider the project a potential Tier 1 Asset

Geology and Mineralisation

  • Strongly structurally focussed Mississippi Valley Type (MVT) deposit
  • Extensive 18km mineralised corridor along the Admiral Bay Fault Zone – major early basin-margin fault
  • Mineralisation localised in favourable shallow-water limestones on a fault-controlled palaeohigh
  • Upper zinc-rich and lower lead-rich zones up to 20m and 15m thick respectively
  • Similarities to other carbonate-deposits and a sub-set of MVT deposits characterised by higher grades

Mineral Resource Estimate

  • Inferred Mineral Resource1 of 170Mt @ 7.5% ZnEq (4.1% Zn, 2.7% Pb, 25 g/t Ag) at a cut-off grade of 3% Zn+Pb reported under JORC 2012 criteria
  • Includes higher-grade zone of 20 Mt at 10% ZnEq at 7.7% ZnEq cut-off
  • Geological assessment supports potential for additional higher grade zones

Exploration Target Range

  • The MRE is currently limited to 2.1 km of a sparsely-drilled 18 km mineralised corridor
  • High ratio (90%) of mineralised intersections supports continuity
  • Exploration Target Range (exlcusive of MRE) of: 160–210 Mt at 4.4–4.8% Zn, 2.2–2.4% Pb and 23g/t Ag over 18km strike
  • Note that the potential quantities and grades are conceptual in nature, that there has been insufficient exploration to estimate Mineral Resources and that it is uncertain whether further exploration will result in the estimation of Mineral Resources

Global Benchmarking

  • Globally, there are numerous undeveloped copper-zinc and or polymetallic-zinc projects
  • Admiral Bay MRE is currently 4th largest undeveloped pure zinc project in the world.
  • In Australia, there are numerous undeveloped copper-zinc and or polymetallic-zinc projects
  • Admiral Bay MRE is currently the equal largest undeveloped zinc project in Australia, and with the ETR added by far the largest in Australia

 

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