Lotus Project

Overview

 

  • 40km east of Middlemount in QLD. Access via the May Downs Road from Middlemount

  • 176km2 of tenure

  • REE-Niobium mineralised carbonatite

  • Is this a buried Niobium-REE carbonatite?

  • EPM28427 expected to be granted in Q4 2024

  • Working towards Native Title & Cultural Heritage Agreement

 

Lotus Project Location

Lotus - A Mt Weld Analogy?

Many carbonatite bodies occur in association with cylindrical, intrusive bodies & high amplitude gravity with a reduced magnetic response.

Mt Weld, one of the worlds highest grade carbonatite deposits, sits beneath 20-50m of sediments within the reduced magnetic response of a high amplitude gravity anomaly. Lotus is also located within a reduced magnetic response and the anomaly lies beneath sedimentary cover.

Mt Weld RTP Magnetic Response (Circular Magnetic Anomaly is 3.6km in Diameter)

Lotus Detailed RTP Magnetics over Regional Magnetics (Lotus circular magnetic low approx. 2.1km in diameter)

REE & Zirconium Anomalism at Surface

All the currently known economic REE resources at the Mount Weld deposit are hosted within lateritic regolith above the carbonatite.

The Mt Weld mineralisation consists of high-grade REEs and concentrations of zirconium, niobium and other critical minerals. At Lotus, we have a cerium and zirconium anomaly at surface immediately within the circular magnetic target indicating the potential for a weathered carbonatite at depth.

Mt Weld Regolith and TREO Content (Image from Hellman, April 2023)

Lotus Detailed RTP Magnetics and Zirconium Anomalism (Zirconium up to 2740ppm within the circular magnetic low)