King Island Scheelite Limited (“KIS” or “the Company”) is close to development ready on the 100% owned high grade Dolphin Tungsten Project (“Dolphin”, or “the Project”), located on King Island, in Bass Strait between Tasmania and mainland Australia.
The Project is targeting the redevelopment of the historically operated Dolphin Mine, which produced some 9.7 Mt @ 0.64% WO3 from both open cut and underground operations in a number of phases from 1917 until its closure in 1990. KIS is looking at an initial eight year, 400,000 tpa open cut operation to produce an average of 195,095 mtu per annum of WO3, with Reserves of 3.16 Mt @ 0.73% WO3, the highest grade of any tungsten development project globally. These are included in the open cut Indicated Resources of 4.12 Mt at 0.74% WO3, and in addition there are underground Indicated Resources of 4.16 Mt @ 1.20% WO3, providing significant upside to any future operation.
