Menu

Australian Shares is the world's biggest free online database of information on Australian resource companies.

Time to Update your company profile
Australian Shares

IRONCLAD MINING LIMITED

ASX: IFE

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

IronClad Mining Limited (“IronClad”) listed on the ASX in July 2007 for the purpose of developing the Wilcherry Hill magnetite project, favourably located 105km from the steel industry at Whyalla in South Australia and 40km north of Kimba in the northern Eyre Peninsula.

A desktop study commissioned by Trafford Resources in 2007 showed the Wilcherry Hill magnetite project was potentially viable. IronClad has since earned 80% entitlement of the iron ore from Joint Venture partner Trafford Resources.

In the last two years, the main highlights for the Project have been:

Expansion of JORC compliant iron resources from 44 Mt to over 275 Mt through +45,000m drilling.
Confirmation Wilcherry Hill ore is high quality and will readily produce a saleable product(s) through detailed metallurgical testwork.
Identification of excellent exploration potential in excess of 1Bt from regional geophysical data and exploration.
Identification of a viable, low cost scenario to become a producer in 2011 through completion of the current integrated study.
Completion of environmental, water supply and infrastructure studies designed to assist in obtaining regulatory approvals to mine.

Wilcherry Hill Iron Project

Highlights

* Low start-up capital cost of approximately $26 million: Robust return, Quick pay-back period
* Stage 1: up to 2 Mt p/a of Premium Quality Direct Shipping Ore (DSO)
* Stage 2: target 5-6 Mt with addition of magnetite concentrates by end of Year 3
* Initial margins of approximately $55 p/tonne

Boxes ticked towards development

* Over 133,000m of drilling completed: Premium quality skarn magnetite identified, Discovery of large BIF Hercules deposit
* Wilcherry Hill JORC compliant Resource of 69.3 Mt (48 Mt Indicated, 21 Mt Inferred) and 600-700 Mt target potential
* Hercules JORC compliant Resource of 198 Mt (198 Mt Inferred) and 1Bt - 1.5 Bt target potential
* Sales and marketing agreement with OMS Materials finalised
* Extensive metallurgy work defined premium quality crystalline magnetite
* Native Title Agreement signed with Gawler Ranges Native Title Claim Group
* Mining Lease Applications submitted to P.I.R.S.A.; approvals anticipated in September 2011
* Early Works approved and many already completed

Mine For

iron ore

Location of operation(s)

South Australia

Address

Level 2 679 Murray St
WEST PERTH, WA, AUSTRALIA

Phone

(61 8) 8224 0411

Email

Website


Last Updated

10/05/2011

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.