451 MILLION TONNE RESOURCE
Low Sovereign Risk, Mining Friendly South Australia
IRON ORE PROJECTS
JORC Resources of 451 million tonnes of 24-30% Fe in Grants and Maldorky deposits.
Grants Basin is one of the largest iron ore discoveries in Australia in recent decades with an
Exploration Target of 3.5-3.8 billion tonnes of 24-28% Fe (only 25% of the basin area is drilled)
Potentially decades supply of high quality upgraded iron ore likely to be suitable for pelletising.
Soft, granular ore with carbonate-clay matrix and a low work index, well suited to upgrading.
Upgrades to a premium 65% product with low impurity elements for an efficient 40% yield and 85-88% overall iron recovery.
Located in northeastern South Australia near Broken Hill – a low sovereign risk, tier 1 ESG destination.
Grants and Grants Basin projects lie within a few km of the heavy duty transcontinental railway line that connects directly to a proposed transshipment facility at Port Playford 350 km to the west that is planned to be operational in 2022.
Drilling is planned at the earliest opportunity to define a shallow iron ore resource at Grants Basin that can form the basis for a mining scoping study.
Bulk samples will be collected to test dry magnetic separation processing technology, which has the advantage of minimal ground water usage and ease of tailings disposal.
It is expected that energy will come from new and nearby existing renewable energy sources.
– 147 million tonne @ 30.1% Fe JORC Indicated Resource.
- Minor overburden and simple ore body geometry resulting in a very low waste:ore ratio open pit mine (approx. 0.19:1).
- Iron ore is comparatively soft and weakly abrasive due to lack of silica and the carbonate-clay matrix.
- Ugrades to a low impurity 65% Fe product for an efficient 40% yield and 85-88% overall Fe recovery.
- Mining Lease application process is well advanced.
GRANTS & GRANTS BASIN
- Grants is a hull shaped deposit that is up to 200 metres thick and contains 304 million tonne @ 24% Fe Inferred JORC resource.
- Grants Basin contains an Exploration Target 3.5-3.8 billion tonnes @ 24-28% Fe, with only 25% of the large basin area reconnaissance drilled to date. The deepest hole intersected 488 metres of continuous iron ore @ 24.6% Fe.
- In both cases the iron ore outcrops and the deposit geometries are favourable for low waste:ore open pits.
- Lie 8 km south of the Transcontinental railway line with direct links to several shipping port options to the east. One hour from Broken Hill via the main Barrier Highway.
- Ore mineralogy is similar to Maldorky and beneficiation characteristics are expected to be similar.
451 MILLION TONNES OF IRON ORE IN JORC MINERAL RESOURCES
Copper, gold, cobalt JORC Mineral Resource inventory – 1.3 million tonnes of copper, 3.2 million ounces of gold and 43.4 thousand tonnes of cobalt.
Kalkaroo copper-gold-cobalt deposit – 100 million tonne open pit JORC Ore Reserves of 0.474 million tonnes of copper and 1.4 million ounces of gold.
Mutooroo copper-cobalt-gold deposit – 13.1 million tonnes of 1.53% copper, 0.16% cobalt and 0.20 g/t gold open pit massive sulphide deposit.
Iron ore – three deposits namely Maldorky and Grants JORC Resources and Grants Basin, with potentially several billion tonnes of iron ore mineralisation.
Over 16,000 km² of highly prospective mineral tenements in South Australia – unmatched elsewhere in Australia.
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