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Yarraloola Project

In the period since acquiring and interest in the Yarraloola Project tenements, CZR Resources has completed sufficient drilling to generate three JORC-compliant mineral resources for the Robe Mesa, Robe East and P529 Iron Ore Deposits.

The Robe Mesa Deposit has an 89.6Mt Mineral Resource with an average Fe grade of 54.4% (61% Fe calcined) (using a 50% cut-off) and includes a higher grade resource of 45.2Mt with an average grade of 56% (62.7% Fe calcined) (using a 55% cut-off) (Table A1). 

Located on granted Mining Licence M08/533, Robe Mesa is a quality asset, with Ore Reserves of 27.3Mt at 55.5% Fe (62.2% Fe calcined) (Table A2).

The Robe East resource represents an easterly extension to the Robe Mesa Deposit while the P529 Deposit, located on granted Mining Licence M08/519, covers a portion of the pisolitic ironstone mesa to the west (Tables A3 and A4).

Table A1. Robe Mesa Mineral Resource Estimate (CZR release to ASX; 12 December 2022).

Cut-Off Grade
Category
Tonnes
Fe
SiO2
Al2O3
P
S
LOI
Feca
Mt
%
%
%
%
%
%
%
55% Fe
Indicated
36.0
56.0
5.9
2.8
0.04
0.02
10.6
62.7
Inferred
9.2
56.1
5.6
2.7
0.04
0.02
10.8
62.9
Total
45.2
56.0
5.8
2.8
0.04
0.02
10.7
62.7
50% Fe
Indicated
71.8
54.4
7.5
3.3
0.04
0.02
10.7
61.0
Inferred
17.8
54.3
7.6
3.3
0.04
0.02
10.8
60.8
Total
89.6
54.4
7.5
3.3
0.04
0.02
10.8
61.0

Table A2. Robe Mesa JORC 2012 Ore Reserve (CZR release to ASX; 8 May 2023).

Ore Reserve
Tonnes
Fe
SiO2
Al2O3
P
S
LOI
Feca
Mt
%
%
%
%
%
%
%
Probable
27.3
55.5
6.4
2.9
0.038
0.02
10.9
62.2
Table A3. P529 (Robe Mesa South) JORC 2012 Inferred Mineral Resource reported above a 50% Fe cut-off grade (9 May 2017 ASX Announcement).
Category
Tonnes
Fe
SiO2
Al2O3
P
S
LOI
Feca
Mt
%
%
%
%
%
%
%
Inferred
4.2
53.0
9.1
3.9
0.04
0.01
10.4
59.2
Table A4. Robe East JORC 2012 Inferred Mineral Resource estimate reported above a 50% Fe cut-off grade (CZR release to ASX; 26 April 2017).
Category
Tonnes
Fe
SiO2
Al2O3
P
S
LOI
Feca
Mt
%
%
%
%
%
%
%
Inferred
4.6
51.8
9.7
3.8
0.1
0.02
10.9
58.2
Feca is the calcined iron-content calculated as (Fe%/(100-LOI%))*100 and represents the amount iron after the volatiles (mainly held as weakly bound water in the structure of the hydrous iron-rich minerals) is excluded from the analysis.
Note: CZR confirms that it is not aware of any new information or data that materially affects the information included in the CZR announcements to the ASX on 26 April 2017, 9 May 2017, 12 December 2022 and 8 May 2023 and, in the case of estimates of the Mineral Resources in Tables A1, A3, A4, and Ore Reserves in Table A2, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.

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