Lotus Project

Overview

  • 40km east of Middlemount in QLD. Access via the May Downs Road from Middlemount

  • 176km2 of tenure

  • Titanium rich Heavy Mineral Sands

    REE-Niobium mineralised carbonatite

  • Comparable to Mordor Complex, NT (Ti-anomalous, multiphase intrusive)

  • EPM28427 expected to be granted in 2025

  • Working towards Native Title & Cultural Heritage Agreement

Lotus Project Location

Lotus - Titanium Rich HMS

  • Large zoned syenite intrusive complex.

  • Iluka (formerly Westralian Sands) held EPM 11125 over the area in late 1990s. They observed Black HMs in soils which then led to HM sampling;

    • Panned concentrate achieved 95% ilmenite, 51% TiO2.

  • HM likely from Yatton complex titaniferous layers.

  • Shallow drilling hit 2% Ti over large distances.

Drill Highlights:

  • R96JM001: 100m @ 1.4% Ti from surface

    • incl. 28m @ 2.0% Ti from 8m

  • R96JM002: 80m @ 1.1% Ti from surface

    • incl. 30m @ 1.5% Ti from 10m

  • R96JM003: 72m @ 1.1% Ti from surface

    • incl. 8m @ 1.2% Ti from 4m

  • 99% of mag. anomaly untested; source may be deeper.

Lotus Regional RTP Magnetics showing the large zoned intrusive complex and the Iluka drillholes

REE & Zirconium Anomalism at Surface

All the currently known economic REE resources at the Mount Weld deposit are hosted within lateritic regolith above the carbonatite.

The Mt Weld mineralisation consists of high-grade REEs and concentrations of zirconium, niobium and other critical minerals. At Lotus, we have a cerium and zirconium anomaly at surface immediately within the circular magnetic target indicating the potential for a weathered carbonatite at depth.

Mt Weld Regolith and TREO Content (Image from Hellman, April 2023)

Lotus Detailed RTP Magnetics and Zirconium Anomalism (Zirconium up to 2740ppm within the circular magnetic low)