Korea District Heating Corporation 071320 Algorithm Investment Report
Sa explorers &_mining_conference_2011_muster_dam_inferred_resource
1. Mutooroo Magnetite Project
Inferred Resource Estimate of the
Muster Dam Magnetite Fe Deposit
2nd December 2011
Andrew Burtt, Project Geologist
8th SA Exploration and Mining Conference
Adelaide, SA
2. Maiden JORC Inferred Resource
1.5 Billion Tonnes @ 15.2% DTR and 18.02% Fe (Head)
at 10% DTR cut-off
with
228 Mt of contained magnetite concentrate
Concentrate Grade
Fe 69.8%
Al2O3 0.4%
P2O5 0.002%
S 0.002%
SiO2 2.8%
LOI -3.3%
20. Resource Modelling
H&S Hellman & Schofield Pty Ltd
Independent review by Hellman & Schofield to produce
Inferred Resource: 1
• 2,913 x 5m DTR composites from drilling 2
• 280 estimated from magsus using Conditional
Expectation statistical technique
• Total of 3,193 x 5m composites used for resource
estimation
• Due to curved nature of deposit 4 sub-domains modelled 3
• Unconstrained Ordinary Kriging used with 10% DTR
cutoff and no top cut with a block size of 100 x 50 x 20m
• Av. density of 2.96 g/cm3 estimated from 2,357 x 5m
downhole geophysics composites with density assigned 4
to ore blocks
• Only Fresh Rock resource reported
21. Resource Modelling
H&S Model validation demonstrates that the block model honours the drill hole
composite grades
Section Plot of DTR_Mag Plan Plot of DTR_Mag
Northing slice: 6409100.0 +/- 50.0 RL slice: 80.0 +/- 10.0
DTR_Mag Range DTR_Mag Range
400
Point Data Point Data
0.00 - 6.00 0.00 - 6.00
6.00 - 10.00 6.00 - 10.00
10.00 - 14.00 10.00 - 14.00
300 14.00 - 18.00 14.00 - 18.00
6411000
18.00 - 22.00 18.00 - 22.00
22.00 - 10000.00 22.00 - 10000.00
200
DTR_Mag range DTR_Mag range
blocks this lay er only blocks this lay er only
6410000 - 6.00
0.00 0.00 - 6.00
6.00 - 10.00 6.00 - 10.00
100
10.00 - 14.00 10.00 - 14.00
14.00 - 18.00 14.00 - 18.00
Elev
North
18.00 - 22.00 18.00 - 22.00
22.00 - 10000.00
22.00 - 10000.00
0
6409000 extents
model
model extents
UNIVARIATE STATISTICS
UNIVARIATE STATISTICS
-100 Mean: 12.74425
Mean: 12.74425
4
Variance: 55.66199
Variance: 55.66199
CV: 0.58542
CV: 0.58542
6408000
Minimum: 0.00
Minimum: 0.00
-200 Q1: 7.2500
Q1: 7.2500
Median: 13.300
Median: 13.300
Q3: 17.4800
Q3: 17.4800
Maximum: 62.1900
Maximum: 62.1900
-300 No. of Data: 3193
6407000 No. of Data: 3193
489500 489600 489700 489800 489900 490000 490100 490200
487000 488000 489000 490000 491000
East
East
23. Exploration Target
Target Area No of Strike (km) Thickness Volume (Bill m3) Tonnage (Bt)
Bands (m)
Muster Dam 1 5.5 to 6.5 100 to 325 0.30 to 0.45 1.0 to 1.5
Muster Catch 2 1.7 to 2.3 80 to 150 0.03 to 0.06 0.05 to 0.15
Muster South 1 1.7 to 2.3 80 to 120 0.03 to 0.06 0.05 to 0.15
Duffield 1 1 3.0 to 3.5 100 to 300 0.09 to 0.13 1.0 to 1.5
Duffield 2 2 1.5 to 2.5 80 to 100 0.25 to 0.40 0.1 to 0.3
Surrender Dam 4 3.0 to 3.5 80 to 150 0.10 to 0.15 0.2 to 0.4
Totals 16.4 to 20.6 80-325 0.80 to 1.25 2.4 to 4.0
The term “Exploration Target” should not
be misconstrued as an estimate of
Mineral Resources and Reserves as
defined in the JORC Code (2004), and
the term has not been used in that
context. The term is conceptual in nature
and it is uncertain if further exploration
will result in the determination of a
Mineral Resource. Refer Clause 18 of
the JORC Code (2004).
24. Future
JORC statement directly
comparable to that for
CAP’s Hawson’s Project
25km distant
Grind optimisation &
Scoping Study
underway; for
completion in February
2012
Measured resource at
Muster Dam
Inferred resource at
Duffields
25. Acknowledgements
Mutooroo Pastoral Company
Sumitomo Metal and Mining Oceania
Frank Walsh Drilling
Macquarie Drilling
ALS Laboratories
AMDEL
Hellman & Schofield
Euro Exploration
Minotaur personnel
Adelaide University students
26. Disclaimer
This presentation has been prepared by the management of Minotaur Exploration Limited (ASX: MEP) for the general benefit of
analysts, brokers and investors and does not constitute specific advice to any particular party or persons. Information herein is
based on publicly available information, internally developed data and other sources. Where an opinion, projection or forward
looking statement is expressed in this presentation, it is based on the assumptions and limitations mentioned herein and is an
expression of present opinion only. No warranties or representations are made or implied as to origin, validity, accuracy,
completeness, currency or reliability of the information. MEP specifically disclaims and excludes all liability (to the extent permitted
by law) for losses, claims, damages, demands, costs and expenses of whatever nature arising in any way out of or in connection
with the information, its accuracy, completeness or by reason of reliance by any person on any of it. Where MEP expresses or
implies an expectation or belief as to the success of future exploration and the economic viability of future project evaluations,
such expectation or belief is expressed in good faith and is believed to have a reasonable basis. However, such projected
outcomes are subject to risks, uncertainties and other factors which could cause actual results to differ materially from projected
future results. Such risks include, but are not limited to, exploration success, metal price volatility, changes to current mineral
resource estimates or targets, changes to assumptions for capital and operating costs as well as political and operational risks and
government regulatory outcomes. MEP disclaims any obligation to advise any person if it becomes aware of any inaccuracy in or
omission from any forecast or to update such forecast.
Competent Person’s Statement
Information in the foregoing presentation that relates to Exploration Results, Mineral Resources or Ore Reserves is
based on information compiled by Dr A. P. Belperio, who is a Director and full-time employee of the Company and a
Fellow of the Australasian Institute of Mining and Metallurgy. Dr A. P. Belperio has a minimum of 5 years experience,
which is relevant to the style of mineralisation and type of deposit under consideration and to the activity that he is
undertaking, to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves”. Dr A. P. Belperio consents to inclusion in the presentation
of matters based on his information in the form and context in which it appears.
