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A Portfolio of Assets in Tier 1 Mining Provinces

Burley Minerals Ltd (ASX: BUR) is a well-funded, ASX-listed, minerals explorer with Iron Ore and Lithium Projects, located within the Tier-1 jurisdictions of Western Australia and Quebec (Canada) and. The Corporate Head Office is in Perth, Western Australia.

Included in its portfolio of Western Australian Iron Ore assets, Burley has an exploration license at the Broad Flat Well tenement in the Pilbara, approximately 115 km from Karratha. Recent rock chip sampling at Broad Flat Well has indicated Channel Iron Deposits (CID) with up to 59% iron.  The Broad Flat Well tenement is within 10 km of a sealed road, providing pathways to ports Dampier, Point Samson, and Port Hedland. Furthermore, Burley has an exploration license application at Cane Bore iron ore prospect, also in the Pilbara and less than 100 km from Onslow and the Port of Ashburton.  The Cane Bore Prospect has more than 30kms of remnant, outcropping CID, and is within 20 km to existing sealed roads. Aboriginal heritage agreements have been executed for both Cane Bore and Broad Flat Well.

Burley also owns a 70% interest in the Yerecoin Magnetite iron Ore Project located approximately 120km to the northeast of Perth, Western Australian that has a JORC 2012 compliant Inferred and Indicated Mineral Resource of 246.7Mt capable of producing a concentrate at >68% Fe. Various studies completed by previous operators, included various production scenarios as well as evaluation of infrastructure solutions.  Drilling approvals are currently being progressed and a Land Access and Compensation Agreement with a Landowner was signed over a key portion of the Tenement.

In early 2023, Burley acquired the Chubb Lithium Project (Chubb), near Val d’Or, Quebec, Canada. Chubb Lithium comprises 35 mineral exploration claims over 1,500 hectares and is within 10 km to Canada’s only spodumene mining and processing operation, North American Lithium. More than 13,000m of diamond drilling was completed at Chubb since its acquisition; significant spodumene-bearing pegmatite dykes were intersected, and lithium-fertile pegmatites were identified. Furthermore, drilling revealed the presence of high-value caesium mineral, pollucite, adjacent to spodumene mineralisation in one of the pegmatite dykes, adding value and underscoring the highly evolved nature of the pegmatite system.

At the end of 2023, Burley acquired more than 1,100 km2 of exploration ground in the highly prospective Superior Province greenstone belt in Manitoba, Canada. This region is underexplored for lithium, having been explored for base and precious metals historically, presenting significant exploration upside potential now. Recent discoveries of lithium deposits in this region illuminate the opportunity Manitoba presents.

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Projects

Western Australian Projects

Pilbara Iron Ore Assets

Significant inherent value at the Cane Bore and Broad Flat Well Iron Ore Projects, in the world class Hamersley Province, close to infrastructure. Large Channel Iron Deposits with economic grades. Heritage surveys, maiden drilling programmes and approvals progressing.

Yerecoin Iron Ore Project

JORC 2012 compliant Mineral Resource of 247 million tonne iron ore resource at 68.1% Fe, 120 km NNE of Perth via Great Northern Highway. Large resource premium iron concentrate which is suitable for Direct Reduction Iron Processing and “Green Steel” production.

Canadian Projects

Chubb Lithium Project

Ongoing targeting work to expand known spodumene and pollucite mineralisation. In proximity to excellent transport and power infrastructure, a major mining community, and ~10km from Canada’s only operating lithium mine and concentrator.

Manitoba Lithium Projects

5 Lithium Projects acquired across ~1,100km2 in an underexplored greenstone region. Historic exploration data and drill core available to re-assess for spodumene pegmatite potential. Outcropping pegmatite dykes to be mapped and scanned with XRF.