Project Overview
Padbury’s highly prospective Peak Hill Iron Joint Venture is within Padbury’s 2500 square kilometres of tenements in Western Australia's Mid West region and is part of the Robinson Range Banded Iron Formation (BIF). The project incorporates the Telecom Hill and Mt Padbury deposits.
Project Information
Telecom Hill has a maiden (inferred) JORC compliant resource of 850Mt at 27.3% Fe, defined from only 4km of a known 10km strike length. Davis Tube Recovery test work has shown the magnetite bearing BIFs can produce high-grade, export quality concentrates.
A new drilling program started at Telecom Hill in late September with a view to increasing and upgrading this magnetite resource. This program is also the Company's first aimed at the Joint Venture's DSO target of 10Mt to 55 Mt at 55-58% Fe.
As well as the highly prospective Telecom Hill asset, geological mapping at the Mt Padbury prospect has delineated several new iron ore targets with potentially significant platy hematite-goethite mineralisation, with grades of up to 63.2% Fe from rock chip samples.
Drilling is planned at this site once approval is received by the Department of Environment and Conservation.
Achievement to date
Padbury is on schedule for all its Year One development targets, with the following key objectives completed:
- Maiden Inferred JORC resource of 850Mt at 27.3% Fe delineated at Telecom Hill
- Geological mapping identified hemetite-goethite mineralisation at Mt Padbury, exploration target identified of 10Mt to 55Mt at between 55-58% Fe. (DISCLAIMER NOTE: This potential quantity and grade is conceptual in nature. There has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in teh determination of a mineral resource).
- Heritage survey undertaken at key tenements: Telecom Hill and Mt Padbury
- POW approval granted from Department of Mines for 3,900 m extension of Telecom Hill drilling
- POW approval application with the Department of Environment and Conservation for initial drilling at Mt Padbury to define initial hematite (Direct Shipping Ore) resource
- Conceptual mining study underway to assess the viability and cost of project development; assess scale of mine and plant production and mining methods. The first draft of this study has been received
- Environmental baseline studies completed with the first flora and fauna studies undertaken at Mt Padbury and Telecom Hill
Program of Work – 2011
Work planned for the remainder of 2011 is designed to continue the strategic development of the flagship Peak Hill Iron Project, and is part of an initial three-year program.
Key milestones for 2011/ 2012 are:
- Finalising a conceptual mining study
- Completion of a conceptual infrastructure study to assess the
viability and costs of infrastructure requirements needed to
support mine project development
- Continue key baseline studies
(environment/hydrogeology/heritage)
- Further in-fill drilling at Telecom Hill and initial drilling to commence at Mt Padbury.
