Magnetite Mines Limited is an iron ore focussed mineral exploration company exploring for magnetite iron ore in the Mawson Iron Province of South Australia.

 

With 3.9 billion tonnes of JORC compliant resources1, and 16-35Bt exploration potential2 our flagship projects the Razorback Iron and Ironback Hill Projects lie within the iron rich Braemar Iron Formation of the Mawson Iron Province of north east South Australia.

100% owned and managed and over 2500 km2 of tenure in the Mawson Iron Province makes Magnetite Mines the dominant explorer in a region known for its soft, easily mined and milled rock capable of producing a high grade, high quality product.

With the ability to produce up to 68% Fe iron ore concentrate3 together with an innovative slurry pipeline and in pit crushing and conveying, Magnetite Mines believes it can produce High Fe, Low impurity magnetite at delivered costs competitive with Pilbara and Brazilian iron ore producers.

Note:

  1. The Mineral Resource information for the project was prepared and first disclosed under the JORC Code 2004 and the information has not been updated since to comply with the JORC Code 2012 on the basis the information has not materially changed since it was last reported.
  2. ASX Announcement 29/10/2015. Note that there has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource. The estimate of an exploration target tonnage should not be construed as an estimate of Mineral Resource.
  3. ASX Announcement 27/11/13