Bauxite Ore is the primary source of aluminium. Aluminium is an essential material for the energy transition towards low carbon energy sources, and its demand will grow massively by 2050. This metal will be a privileged ally not only in the lightening of vehicles but also in creating electrical infrastructure, solar panels, and wind turbines.

Lindian Resources can supply the market with this critical material, with its 1 billion tonnes of high-quality bauxite resources, located in Guinea, with excellent infrastructure of road, rail and deep-water bulk handling ports.

Lelouma Bauxite Project

The Lelouma Project is a “Tier 1” bauxite project and has an exceptional resource base and has been systematically explored with over US$10 million of historic expenditure by Sarmin and Lelouma’s previous owner, Mitsubishi Corporation. The plateaux hosting the Lelouma bauxite mineralisation are located around 100km northeast of Sangarédi, site of the CBG railway line loading area. The rail line is in turn around 100 km northeast of the port in Kamsar, which exports up to 25Mtpa of bauxite. Lelouma is located just 40km from Lindian’s high grade Gaoual conglomerate bauxite project, with both projects within haul distance of existing rail infrastructure presenting the opportunity to fast-track development, moderate capital investment and deliver some of the highest grade ore into the global bauxite market.

Mineral Resource Estimate (JORC 2012)

900 Mt @ 45.0% Al2O3 & 2.1% SiO2 (Including 398 Mt @ 48.1 Al2O3 & 2.0% SiO2) )

Resource Category – Measured + Indicated + Inferred, including 155Mt measured category

Table 1: Lelouma Mineral Resource Statement (Inclusive of the Mineral Resources below in Table 2)

Table 2: Lelouma High Grade Portion (Included within the Mineral Resources Table 1)

LELOUMA MINERAL RESOURCE STATEMENT

The Mineral Resource statement for the Lelouma Project was prepared and reported by SRK Consulting (UK) Ltd, in compliance with the Australasian Code for the Reporting of Exploration Results, Mineral Resources, and Ore Reserves, the JORC Code, 2012 Edition (“JORC”), by constraining the in situ model using cut-off grades of >40% Al2O3 and <10% SiO2, a maximum stripping ratio of 1:1 (thickness overburden / thickness bauxite) and a minimum bauxite thickness of 1 m, all to satisfy the criteria of reasonable prospects for eventual economic extraction. No pit optimisation was used to constrain the Mineral Resource due to the very shallow and low stripping nature of the deposit. All tonnages and grades are reported on a dry basis. These parameters are guided by and have been validated using SRK’s experience of other Guinea bauxite operations.

Refer ASX release dated 23 September 2020 HERE for full details of the Lelouma bauxite project.

Gaoual Bauxite Project

On 10 April 2019, Lindian signed an exclusive option agreement with KB Bauxite Guinea SARLU and its sole shareholder Guinea Bauxite Pty Ltd to acquire the Gaoual Bauxite Project.

The Gaoual Bauxite Project is in north western Guinea within the Boké Bauxite Belt. It is situated south of the township of Gaoual in the northern portion of the Kogon-Tomine interfluve, about 65 km northeast of Sangaredi.

The asset contains conglomerate bauxite at the Bouba plateaux which is the same type of ore initially discovered at the Sangaredi bauxite deposit which is owned by Compagnie des Bauxites de Guinée (“CBG”).

Gaoual is one of only two known major ‘Conglomerate Bauxite’ occurrences in discovered in Guinea, the other being Sangaredi - mined for ~30 years by Compagnie des Bauxites de Guinée (CBG).

Gaoual has very similar geological and geochemical characteristics to the Sangaredi Conglomerate Bauxite deposit, which was regarded as vastly superior to all other bauxite.

Gaoual is adjacent to world-class bauxite deposits Koumbia Bauxite Project (Alliance Mining Commodities) and Société des Bauxites de Guinée’s (CBG), and nearby infrastructure - 64 km from Sangaredi Railway and 155 km from Kamsar Port in Kamsartown.

GAOUAL MINERAL RESOURCE STATEMENT

The resource was estimated by Cube Consulting, Perth Australia using ordinary kriging.  The estimation used ordinary kriging (OK) for AI2O3, FE2O3, LOI, SiO2 and TiO2 was based on 874m of drilling over a total of 131 shallow HQ auger drill holes.  The outputs for this estimate by Cube were two Datamine block models.

The bauxite is near surface and contains no lower grade bauxite as overburden or intra-burden.  It was noted that the results in all areas indicated that the bauxite present was of a high alumina grade, and that QA/QC confirmed that the estimation volumes and grades presented are robust.

The Bouba plateau sits close to major operating bauxite mining companies with significant infrastructure.  This makes it possible to develop a quick pathway to market for the ore particularly given the desire of the Guinean Government for mutualization of infrastructure.

A total JORC compliant Indicated Resource of 102Mt @ 49.8% Al2O3 was defined using a cut-off of 40% Al2O3. The resource includes high grade areas with 84Mt @ 51.2% Al2O3 using a higher cut-off of 45% Al2O3.

Above: Bouba Plateaux Resource Summary

Refer ASX release dated 15 July 2020 HERE for full details of the Gaoual Project.

Metallurgical Screening

A series of test pits, representative of the resource, where selected for metallurgical screening studies. Samples were collected in the first metre of bauxite and dry screened. The less than 1.5mm fraction, consisting of (on average) 15% of the feed, was discarded. The fraction greater than 1.5mm was analysed and the results are tabled below.

Marketable Product

From this study, the sample specifications for marketable and saleable product, are listed below:

Digestion Results

SALES ENQUIRIES

For any sales enquiries regarding Gaoual, please contact marketing@lindianresources.com.au

Woula Bauxite Project

The Woula Bauxite Project located in North-Western Guinea, is positioned to be a low capex, early production asset and is ~10km from an existing haul road connecting to the bauxite export terminal of Katougouma.

The Woula Project has been subject to exploration on its southern side, but the eastern, north-south trending limb of the permit remains relatively underexplored, with only a few scout holes completed historically. The Company has entered into a binding agreement to acquire up to 75% of the Woula Bauxite Project, subject to completion of satisfactory due diligence. On completion of the acquisition, Lindian intends to seek to identify high-grade zones within the permit that may be amenable to selective mining techniques, so that in the short- term and for modest capital investment, bauxite DSO product may be able to be delivered to the mine gate or river port for sale to third parties.

WOULA MINERAL RESOURCE STATEMENT

The Mineral Resource statement for the Woula Bauxite Project was prepared and reported by SRK Consulting (UK) Ltd by constraining the in situ model using cut-off grades >34% Al2O3 and <10% SiO2, a maximum stripping ratio of 1:1 (thickness overburden / thickness bauxite) and a minimum bauxite thickness of 1 m, all to satisfy the criteria of reasonable prospects for eventual economic extraction. No pit optimisation was used to constrain the Mineral Resource due to the very shallow and low stripping nature of the deposit. All tonnages and grades are reported on a dry basis. These parameters are guided by and have been validated using SRK’s experience of other Guinea bauxite operations.

The Mineral Resources with cut off grade >40% AI2O3 is stated below.

Refer ASX release dated 23 September 2020 HERE for full details of the Woula bauxite project.