Bungalally

Overview

The Bungalally Project is a significant mineral sands project that WIM considers to be consistent with its other projects concerning its high zircon, high rare earths, and valuable heavy mineral (VHM) content. It is also very well-located in relation to existing critical infrastructure.

The project has a Mineral Resource Estimate of 205Mt @ 2.7% THM (JORC 2012, Inferred). The Bungalally Mineral Sands Project is at a Scoping Study stage.

WIM has completed two drilling programs and has defined a Maiden Mineral Resource Estimate, as detailed below. WIM’s current understanding of the projects key characteristics are as follows:

  • Resource Estimate of 205 million tonnes @ 2.7% THM (JORC 2012, Inferred)
  • Shallow mineralisation over much of the project area

Location

The Bungalally Heavy Mineral Sands (HMS) Project is located approximately 10 km south of Horsham, in Victoria. The project area is nearby existing infrastructure, including roads, rail, gas, power, water, and several major ports.

Resource Geology

WIM defined a Maiden Mineral Resource for Bungalally of 207Mt of ore, containing 2.7% THM (JORC 2012, Inferred). The Bungalally deposit is hosted within the Loxton Parilla Sands, which are well known in the Murray Basin to host economic HMS deposits. Drilling over certain parts of the deposit indicate very shallow mineralisation (see generalised geological cross section below).

Burgallaly
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JORC RESOURCE

In conjunction with mining experts Optiro Pty Ltd, WIM has defined a Maiden Mineral Resource Estimate for the Bungalally deposit of 205 million tonnes @ 2.7% THM (JORC 2012, Inferred). Preliminary mineralogy test work indicates a positive mineral assemblage, with low overall trash Heavy Mineral (HM) and high zircon content of 21%.

The table below shows the 2015 Mineral Resources reported above a cut-off grade of 1.0% THM for the Bungalally Project.

Table4

Work Completed

WIM has completed three air core drilling programs, assays, and detailed mineralogical studies and has delivered a maiden mineral resource estimate.

Bungalally Project Location