NIPLATS AUSTRALIA LIMITED

ASX Code - NIP

Website - www.niplats.com.au

Company Facts

Project Facts

• Speewah is a fluorite, vanadium and PGF project in the East Kimberley region of Western Australia, about 110km southwest of Kununurra.
• NiPlats Australia plans to successfully develop the high grade fluorite deposit to supply fluorspar to the international market.

  The fluorite deposit totals combined Indicated and Inferred resources of 4.4 million tonnes at 23.6% CaF₂ (at 10% cut-off grade), with 3.8 million tonnes at 23.5% CaF₂ in the Indicated category

More Information

NiPlats Australia has completed exploration drilling programmes on its 100% owned Speewah project, covering approximately 400 square kilometres of the Speewah Dome in the Kimberley region of Western Australia.  The drilling results have identified PGE reef style mineralisation in the Hart Dolerite (best intersection 0.2 metres at 0.7g/t 2PGE+Au) and discovered two large vanadium exploration targets of 100-400 million tonnes at 0.3-0.4% V₂ O₅.  Drilling has also confirmed extensions to the fluorite deposit, with best intersections of 25 metres at 18.67%, 10 metres at 39.38%, 43 metres at 22.29% CaF₂ (including 25 metres at 32.07% CaF₂ ), 37 metres at 22.80% CaF₂ (including 24 metres at 30.0% CaF₂ ) and 25 metres at 34.86% CaF_2.

NiPlats Australia's strategy with Speewah has been to secure an advanced, high quality fluorite project containing resources that exhibit potentially favourable mining and processing options, and located close to good infrastructure.  Recent drilling has also discovered vanadium and PGE mineralisation in a potentially large mafic complex.  In addition, the fluorite mineralisation is associated with anomalous copper and gold values and future drilling will also test the copper and gold potential below the fluorite vein system.

The Company is targeting a fluorite operation with the potential to produce more than 150,000 tonnes of fluorspar concentrate per year for at least 10 years for the export market. Global demand for the product is strong and Speewah Project is well placed to enter the market place given that:

• a recent market trend of fluorspar consumers to diversify their supplier base beyond major producers China, Mexico and Africa;
• the potential export decline from China, the world’s largest producer, in order to satisfy increasing domestic consumption, has further strenghtened the fluorspar market, with both tighter supply and increased demand; and
• end-users have expressed a strong interest in sourcing quality product from Speewah.

For more information on Speewah please phone +61 (0) 8 9221 7466.