THE MAWSON IRON PROJECT - IRON ORE

The Mawson Iron Project is located 250-300km NNE of Adelaide, South Australia, and comprises a number of highly prospective magnetite-iron ore targets. Presently, the venture refers to the assets of both Magnetite Mines Limited (MGT) and Lodestone Equities (Lodestone) and consists of two primary project areas.

Broadly, the projects are referred to as MGT's Razorback Project consisting of the Razorback and Ironback Hill Deposits and Lodestone's Olary Project which consists of the Olary Deposit. 

Presently a framework agreement (FA) between Magnetite Mines Limited and Lodestone Equities Limited is in place, which sets out the basis for negotiation of the purchase of 100% of Lodestone Equities Limited and it's subsidiaries (see ASX Announcement).

The extensive Braemar Iron Formation is the host rock to magnetite mineralisation on the project. This formation has a strike length of approximately 250km within the area controlled by both MGT and Lodestone. This places the Mawson Iron Project as one of the largest magnetite resources in Australia.

Surrounded by an infrastructure rich area that has access to nearby existing open user rail, port, power, gas, heavy engineering and dormitory towns, the project is likely to deliver a lower capital intensity project compared to similar projects in Australia.

Updated January 2018

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