Corunna Downs

  • DFS complete in December 2016
  • 64.1mt @ 57.2% Fe Mineral Resource
  • 21.0mt @ 57.0% Fe Ore Reserve
  • Life of Mine strip ratio 0.6 : 1.0
  • 5-6 year mine life
  • 237 km from port – road haulage
  • ~4mtpa of lump and fines
  • All project tenure granted
  • Low capex of $47 - 53m
  • C1 cash cost of $37 - 43/wmt

Corunna Downs Mineral Resource as at November 2015, reported above a 50% Fe cut-off

*CaFe% is calcined Fe calculated by Atlas using the following formula (Fe%/(100-LOI%))*100.
**Tonnes rounded according to Mineral Resource classification, small discrepancies in tonnages may occur due to rounding.
***Iron Ore Mineral Resource tonnes are reported on a dry weight basis

Corunna Downs Project Ore Reserve as at November 2015


Competent Person’s Statements

Mineral Resource and Ore Reserves - Compliance with the JORC code assessment criteria

This Mineral Resource and Ore Reserve statement has been compiled in accordance with the guidelines defined in the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (The JORC Code - 2012 Edition).

Ore Reserve Estimation – Corunna Downs

The information in this report that relates to Ore Reserve estimations for the Corunna Downs deposits is based on information compiled under the guidance of and audited by Mr Srinivasa Rao Gadi, who is a member of the Australasian Institute of Mining and Metallurgy. Srinivasa Rao Gadi is a full time employee and shareholder of Atlas. Srinivasa Rao Gadi has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Srinivasa Rao Gadi consents to the inclusion in the report of the matters based on his information in the form and context in which they appear.

Geological Data, Interpretation and Resource Estimation – Corunna Downs

The information in this report that relates to Geological Data, Interpretation and Mineral Resource estimations for the Corunna Downs deposits is based on information compiled by Mr Leigh Slomp who is a member of the Australasian Institute of Mining and Metallurgy. Leigh Slomp is a full time employee and shareholder of Atlas. Leigh Slomp has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he has undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Leigh Slomp consents to the inclusion in this report of the matters based on his information in the form and context in which they appear.