Resources and Reserves
Mineral Resource Estimates for four magnetite deposits within Lodestone Mines Olary Flates Iron Ore Project are announced (31 October 2022).
Lodestone Mines is currently the 100% holder of 7 exploration licences and one ELA in the Yunta-Olary region of eastern South Australia, including the recently 100% acquired EL 6670. Together the granted tenements cover an area of 1238 km2 and make up Lodestone’s Olary Flats Iron Ore Project.
Mineral Resource Estimates have been undertaken on four deposits within the magnetite bearing Braemar Iron Formation, based upon drilling undertaken between 2010 and 2019. The mineral resource estimates were undertaken over the period from 2013 to 2021 and are reported below in accordance with JORC 2012.
NE3
Category | Mt | DTR% | Density | Total Fe % | Concen- trate Mt | Fe % | SiO₂ % | AI₂ O₃% | P % | S % | LOI % | Estimator |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Inferred | 70.7 | 14.48 | 2.83 | - | 10.2 | 68.6 | 4.01 | 0.32 | 0.003 | 0.003 | - | H&SC 2016 |
NE13
Category | Mt | DTR% | Density | Total Fe % | Concen- trate Mt | Fe % | SiO₂ % | AI₂ O₃% | P % | S % | LOI % | Estimator |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Inferred | 206.3 | 17.79 | 2.95 | - | 36.7 | 69.8 | 2.53 | 0.2 | 0.004 | 0.002 | - | H&SC 2016 |
NE12
Category | Mt | DTR% | Density | Total Fe % | Concen- trate Mt | Fe % | SiO₂% | AI₂ O₃% | P % | S % | LOI % | Estimator |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Indicated | 114.8 | 22 | 2.97 | - | 25.3 | 69.4 | 2.8 | 0.3 | 0.01 | 0.02 | -3.1 | D&JL 2021 |
Inferred | 160.9 | 20.2 | 2.95 | - | 32.5 | 69.2 | 3.2 | 0.3 | 0.01 | 0.02 | -3.1 | D&JL 2021 |
Total | 275.7 | 20.9 | 2.96 | - | 57.6 | 69.3 | 3.1 | 0.3 | 0.01 | 0.02 | -3.1 | D&JL 2021 |
NE14
Category | Mt | DTR% | Density | Total Fe % | Concen-trate Mt | Fe % | SiO₂% | AI₂O₃ % | P % | S % | LOI % | Estimator |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Indicated | 214 | 26.4 | 3.12 | 26.3 | 57 | 69.6 | 2.9 | 0.3 | 0.01 | 0.008 | -3.1 | SRK 2014 |
Inferred | 296 | 27.3 | 3.1 | 26.4 | 81 | 69.8 | 2.6 | 0.2 | 0.008 | 0.009 | -3.1 | SRK 2014 |
Total | 510 | 26.9 | 3.11 | 26.4 | 138 | 69.7 | 2.7 | 0.2 | 0.009 | 0.009 | -3.1 | SRK 2014 |
Notes: Differences may occur due to rounding.
NE3 and NE13 (H & S Consultants Pty Ltd, 2016) 12% DTR cut-off, constrained to 300m below surface.
NE12 (D&J Larsen Consulting Pty Ltd, 2021) 10% DTR cut-off, constrained to above -100m RL (Approx. 300m below surface).
NE14 (SRK Consulting Pty Ltd, 2014) 10% DTR and 20% Fe cut-off.