Magnetite Mines has progressively increased it’s resource from the first drill program in early 2010. The latest JORC Compliant (2004) Razorback Iron Resource completed in April 2013 stands as follows:

 

ProspectJORC Resource ClassificationMillion Tonnes1eDTR%*Fe%SiO2%Al2O3%P%
Razorback  Indicated 833 16.0 21.7 45.2 7.3 0.20
Inferred 1,532 14.6 16.1 50.2 8.5 0.17
Iron Peak  Indicated 203 16.8 20.0 45.0 7.67 0.18
Inferred 163 15.6 17.1 46.7 8.0 0.16
TotalMineral Resources2,73215.318.248.18.00.18
1 Tonnages rounded to significant values; total may not appear correct as a result. The resource has been estimated in accordance with the JORC (2004) Code. The new ASX Listing Rules relating to the disclosure of reserves and resources based on the JORC (2012) Code will come into effect on 1 December 2013. * eDTR is determined by DTR and SATMAGAN magnetite estimated % data
 
Updated November 2013