Some 'light' weekend reading, for those that are interested!...

Some 'light' weekend reading, for those that are interested!

Overnight, MIO filed a NI43-101 Technical Report on SEDAR.

The independent technical report, entitled “NI43-101 Technical Report on the Magnetite Mineral Resource, Lake Giles Magnetite Project, Western Australia" with an issue date of 29 September 2020 was prepared in accordance with the requirements of National Instrument 43-101.



The Technical Report was completed by independent geological consultants CSA Global Pty Ltd.

As you know, the previous Mineral Resource estimates presented to the market between 2009 and 2019 consisted entirely of Inferred resources, including 710 million tonnes ('Mt') at the Moonshine deposits. During 2019 the Company completed a program of infill drilling across some of the Moonshine deposit to upgrade the Mineral Resource category to include Indicated and Measured resources.  The Mineral Resource upgrade has delivered sufficient resources in the appropriate categories to underpin the current Lake Giles Iron Project Feasibility Study.

The updated Mineral Resource estimates incorporate the recent drill assays and has resulted in an increase in the size of the Moonshine mineral resources, including resource category upgrades to now include Measured and Indicated resources.

Approximately 30% of the Moonshine resource is now classified as Indicated with approximately 7.5% classified in the Measured category.

GLTA.

These are only my thoughts and it does not constitute investment advice. Before acting on any information you read and before making any financial or investment decisions, you should always consult your advisor(s) or other relevant professional experts.