BEYONDIE

Emergent Resources announced that an exploration target in the range 3.7 to 4.2 billion tonnes has been interpreted from aeromagnetic data and geological mapping at the Company’s Beyondie Magnetite Project in Western Australia’s mid-west Iron Ore region. Drilling to date has focused on a 12km segment of project within E52/1806 alone and independent geologists are of view that similar magnetite mineralisation is contiguous throughout the entire exploration target. The Company has completed 17,470 m drilling across 115 holes this year and plans to announce a significant JORC upgrade.

Emergent Resources announced that a Subscription and Option Agreement has been signed in Beijing by the Company and the State Owned Enterprise (SOE), China Metallurgical Investment Co Limited (CMIC) to proceed with the previously announced share and option placement in Emergent and A$200 Million 50:50 Beyondie Development Joint Venture to achieve the commencement of mining operations with an initial targeted production of 3Mtpa of magnetite concentrate.

Emergent Resources announced that it has completed its phase III, resource expansion drill program at the Beyondie Magnetite Project in Western Australia’s mid-west iron ore region. Half of the results have now been received (from 28 of the 56 RC holes; BDC048 to BDC075 inclusive totalling 4,789 m (roughly 50%). Highlights of the latest intersections show consistency of grade for the envisaged bulk mining operation, including 135 m @ 27.63% Fe from surface in hole BDC065.