IRON ORE HOLDINGS LIMITED - ASX: IOH

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Description

Iron Ore Holdings Ltd (IOH) was first established in December 2003 and successfully listed on the ASX in May 2005. During the past several years IOH has progressed its strategy of proving up commercial quantities of Direct Shipping Ore (DSO) on its tenements in the Pilbara region of Western Australia.

A major new discovery of 160 Million Tonnes (JORC) of Brockman-style DSO (59%Fe) at the Iron Valley Project was announced during 2009. Iron Valley is bordered by Rio Tinto, BHP and FMG in the Central Pilbara region and is situated within close proximity to existing infrastructure. Further drilling is being undertaken and a Scoping Study has commenced.

Commercial quantities of iron ore were identified at the Phil’s Creek Project following a drilling campaign completed in January 2007.

The Phil’s Creek Project is situated only five kilometres from Rio Tinto HI Yandicoogina mine. In July 2008 the Company entered into a Memorandum of Understanding (MOU) with Rio Tinto for an annual Mine Gate Sale (MGS) of up to 1.5 million tonnes of DSO pisolite from the Phil’s Creek Project.

A Definitive Engineering Study (DES) has been completed and, subject to the necessary Government and regulatory approvals IOH is on track for mining to commence at Phil’s Creek by the second half of 2010. A formal ore sales agreement is to be negotiated with Rio Tinto prior to commencement.

Central Pilbara Project Area:

The Company’s tenure in the highly prospective Central Pilbara region of Western Australia has increased significantly with the granting of the Weeli Wolli and Koodaideri South Projects. Adding this to its already impressive tenement portfolio, IOH now controls a substantial 570Km2 of active tenure adjacent to the operating Rio Tinto HI Yandicoogina and BHPB Yandi Iron Ore mines. IOH has identified a number of walk up drilling targets which will be tested via reverse Circulation (RC) drill testing in the 2008/2009 field season. To complement this drilling, IOH will be completing extensive detailed field mapping over the known anomalies along with those previously unexplored prospective geological domains. IOH has previously defined a large moderate grade resource on its North Marillana Project which will be the subject of metallurgical Beneficiation Test work.

Western Pilbara Project Area:

In the Western Pilbara Project area IOH has two projects, Buckland Hills and Maitland River covering a total of 350Km2. The Buckland Hills project is located 7 kilometres from Robe River’s Mesa J mine site and is adjacent to the Robe River buried Channel Iron Deposits (CID) at Bungaroo and Jimmawurrada. The Buckland Hills Project has a number of defined drill targets comprising extensive outcropping CID, Detrital Iron Deposits and Bedded Iron Deposits targets which will be tested during the 2008/2009 field season. The recently granted Maitland River Project located just 40km south of Karratha, is situated on an Iron rich Magnetite occurrence. An equally aggressive exploration schedule is planned for the Western Pilbara Project area.

Mine For

iron ore

Location of operation(s)

Western Australia

Address

Level 1, 1 Altona St
WEST PERTH, WA, AUSTRALIA

Phone

(08) 9321 6999

Email

Website

http://www.ironoreholdings.com/

Last Updated

12/03/2010