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Hutton Garnet Beaches


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Tonnage And Grade

Total world consumption of waterjet cutting garnet is estimated over 100,000 tonnes per year. Preliminary Resource estimates based on sampling since 1997 indicate the Hutton deposits could meet this demand for many years.

The total onshore Measured Resource at the South Beach alone could potentially supply 20,000 tonnes garnet concentrate annually for over 20 years. Half of this Resource is classified as a Probable Mineral Reserve. The remaining garnet at the North Beach and the offshore are available to meet long-term additional demand.

A number of Hutton garnet concentrates have been successfully tested against commercial grade products, and potential market areas have been identified with garnet users located within an economical distance.

Resource Estimates And Reserves

The Prefeasibility Report and Marketing Summary (PRMS, October 2004) outlines preliminary resource and reserve estimates of 1,307,950 metric tonnes garnet (1,438,750 short tons). At the South Beach, a one metre depth has been sufficiently verified to classify half the total Measured Resource -- 256,150 tonnes -- as a Probable Reserve (included in Measured Resources as noted below). In accordance with NI43-101, the effective date of the estimates is October 18, 2004.

Garnet Content(weight %) Total
Area
(square metres)
Estimated Resource (tonnes per metre depth) Estimated Total Depth (metres) Estimated Total Garnet(tonnes)*2 Estimated Total Garnet(tons)*2
MEASURED RESOURCES
S. Beach Onshore 60 185,625 256,150 2 512,300*1 563,530
N. Beach Onshore 25 296,525 133,450 2 266,900 293,590
Sub-Total 389,600 779,200 857,120
INDICATED RESOURCES
S. Beach Offshore 25 775,000 348,750 1 348,750 383,625
Seven Islands Offshore 20 500,000 180,000 1 180,000 198,000
Sub-Total 528,750 528,750 581,625
TOTAL 918,350 1,307,950 1,438,750
*1 256,150 tonnes included as Probable Reserve
*2 Note: Tonne=2205 lbs., Ton = 2000 lbs (Canadian metric tonne x 1.1 = US short ton)
*3 Note: Dry bulk density used in above calculations, South Beach: ~2.3 tonnes/m3
North Beach and South Beach offshore: ~1.8 tonnes/m3 (due to lower garnet content)