Group 6 Metals Limited

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King Island is the most western large island in the Bass Strait, located between Victoria and Tasmania. The Dolphin Project is situated on the south east coast of the island, near the old mining town of Grassy. The Dolphin Tungsten Mine operated between 1917 and 1992, when it was closed due to extremely low tungsten prices, rather than a lack of reserves. At that time, approximately 50% of the known resource was yet to be mined.  Two mines were operated, the larger Dolphin mine and the satellite Bold Head Mine. Over the last few years, G6M has concentrated on optimising a redevelopment strategy for the Dolphin Tungsten Project, which contains a JORC 2012 compliant Mineral Reserve of 4.43Mt at a grade of 0.92% WO3 (at 0.2% cut-off for the opencut and 0.7% for the underground). Mineral Resources, including the Mineral Reserves, total 9.6Mt at a grade of 0.90% WO3 (at 0.2% cut-off). The current development plan envisages an 8-year open cut mine followed by a 6 year underground mine producing a concentrate for supply into the Ammonium Paratungstate market.