Menninnie Zinc Project

Profile

The Menninnie Zinc Project in South Australia comprises a contiguous group of three tenements with participation by Terramin's wholly owned subsidiary, Menninnie Metals Pty Ltd:  the Menninnie Dam Joint Venture between Menninnie Metals (24%) and Minerals and Metals Group Ltd (MMG) (76%) on EL3640; the Nonning JV, where Menninnie Metals can earn up to 70% from Minotaur Operations Pty Ltd on EL3535; and the Kolendo Exploration Licence EL4285 owned 100% by Menninnie Metals. 
The tenements include the Menninnie Dam lead-zinc deposit with an Inferred Resource of 3.8Mt @ 7.2% Pb+Zn, and 620 square kilometres of prospective ground in the Gawler Craton.

Menninnie Zinc tenements location - click to enlarge the image

Menninnie Dam

Location

The Menninnie Dam Project centres on the EL 3640 tenement on the northern Eyre Peninsula in South Australia, about 160km west of the lead smelter at Port Pirie. The project is close to the industrial infrastructure and seaport of Whyalla, the third largest town in South Australia.

Scope

The Menninnie Dam tenement includes an Inferred Resource of 3.8 million tonnes at 3.2% Pb, 4.0% Zn and 34g/t silver at a 3.5% Pb+Zn cut-off, declared at the end of the 2007 season over approximately half the Menninnie Central lode strike length.

Status

During 2008, 10,777 metres of drilling was conducted in mineralised areas adjacent to Menninnie Central, and an IP programme totalling 191 line km completed over prospective areas elsewhere in the tenement. 

Structure

Menninnie Dam is operated under a joint venture between MMG Australia and  Menninnie Metals Pty Ltd on the EL3640 tenement.  Menninnie Metals Pty Ltd has a 24% interest with pre-emptive rights to acquire the 76% MMG share.  MMG has advised that they are seeking a purchaser of their share of the project and exploration is currently on care and maintenance.

Nonning

Location

The Nonning tenement, EL3535, adjoins the Menninnie Dam tenement on the Northern Eyre Peninsula.

Scope

Nonning is prospective for similar zinc-lead mineralisation to that of Menninnie Dam.

Status

Initial exploration has identified a number of prospective targets.

Structure

Under the terms of a Heads of Agreement with Minotaur Operations Pty Ltd, Menninnie Metals Pty Ltd can earn up to 70% in EL3535 by expenditure of up to $3 million on the tenement.  Menninnie Metals Pty Ltd is the manager of the Joint Venture.

Kolendo

The Kolendo tenement, EL4285, granted to Menninnie Metals Pty Ltd in July 2009, has an area of 208 square kilometres and lies to the west of Nonning.

The tenement is considered prospective for Menninnie Dam style lead zinc mineralisation.

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JORC Competent Person Statement