SA Mines and Energy Journal : June-July 2011
www.lincolnminerals.com.au Telephone: +61 8 8274 0243 i Facsimile: +61 8 8274 0242 28 Greenhill Road, Wayville, South Australia 5034 ASX Code LML ABN 50 050 117 023 EYRE PENINSULA South Australia Progressing from exploration to development GUM FLAT IRON ORE PROJECT 103+ Mt inferred resource 350-850 Mt exploration target ** Our mission is to provide capital growth through exploration, discovery, and development of economic mineral deposits One of the world's major Iron Ore Provinces Lincoln Minerals Limited (LML) is an Australian company with a portfolio of iron ore, nickel-cobalt, uranium, copper-lead-zinc-silver, graphite and gold projects in the highly prospective Gawler Craton in South Australia's Eyre Peninsula. Lincoln's agship iron ore project at Gum Flat o ers signi cant employment and commercial opportunities for people and businesses in Port Lincoln and Southern Eyre Peninsula. Gum Flat contains more than 100 million tonnes of iron ore, most of it magnetite but with some hematite-goethite suitable for direct shipping. It is proposed that transportation of Gum Flat's product to Port Lincoln, less than 20 km, will be via road in covered containers (1,800 t/day or 10,000 t/week), stored adjacent to Port Lincoln's existing wharf, then loaded into Handymax or Panamax ships using a Tippler system with a mist spray, a process successfully in operation in Port Adelaide. Subject to nal feasibility studies, nance and obtaining all necessary approvals, Lincoln Minerals proposes to begin exporting direct shipping ore (DSO) in late 2012. The company is currently considering a two stage development option: Stage 1 Mine and export 500,000 tonnes per annum hematite-goethite DSO via Port Lincoln Mine ~1 million tonnes per annum (Mtpa) lower grade hematite and process to produce about 400,000 tonnes per annum upgraded nes for export via Port Lincoln Stage 2 Mine 10 Mtpa magnetite and process on site to produce 2 Mtpa high grade concentrate for export via Port Lincoln or possibly Sheep Hill (proposed new bulk minerals handling port) Timing 2011 Prepare and lodge Mining Lease Application, MARP and development approvals 2012 Start mining mid year Start exporting late 2012 from Port Lincoln 2013 Construct stage 1 processing plant 2015 Commence stage 2 ** 350-850 Mt @ 20-35% Fe Exploration Target is entirely conceptual in nature and it is uncertain if further exploration will result in estimation of a mineral resource "Lincoln Minerals a proud EPMA founding member"