Opportunity to acquire an Prospective Iron Ore Exploration Project in South Australia

The Paragon Bore Iron Ore Project is located within the Gawler Craton region in South Australia.

The Project lies ~100km away from the Cairn Hill Magnetite mine and shows potential of similar mineralisation and grade.

The Project is attractive as a core tenement package for an active iron ore/magnetite exploration company looking to define a JORC Mineral Resource.

3.5-4.0 Billion Tonne Iron Ore Exploration Target

      • Total exploration target of 3.5-4.0 Bt of iron ore @ 25%-30% Fe
      • Confirmed by multiple drillholes including 170m @ 32% Fe, 160m @ 31% Fe and other holes citing grades of up to 56% Fe
      • Davis Tube Tests produce 70% Fe concentrate
      • ~30km from Darwin/Adelaide (Port Augusta & Whyalla) Rail

Large-Scale IOCG Potential in the Gawler Craton

      • Large-scale 11km x 2km x 10mgal iron-rich gravity and magnetic anomaly at Paragon Bore
      • Comprises discrete well defined magnetic (magnetite) and dense non-magnetic hematite / IOCG bodies (not yet drilled)

 

Figure 1: Paragon Bore Map and Surrounding Infrastructure

 

Figure 2: Map and Location of the Paragon Bore Project