Magnetite Mines continues to explore the 110 km strike length of Braemar Iron Formation, within the Mawson Iron Project . This has included drilling at Black Hills South, Dragons Head and Manunda Prospects, which demonstrate similar mineralisation to that observed at Razorback. There are also other prospects that are still to be drill tested.

A highlight has been the single drillhole at the Manunda Prospect, which coincides with an area of aeromagnetic intensity, which demonstrated the following high grade results:

Hole IDEast *(m)North *(m)From (m)+Intersection from 45µm grind
RRDD0110 389,074 6,362,171 38 81.4m @ 23.1 % DTR Recovery, 66% Fe concentrate
including     42 18M @ 36.6% DTR Recovery, 66% Fe concentrate

Updated November 2013