Figure 12: Die Hardy Project

The potential for a major body of magnetite mineralisation at the Die Hardy Range was indentified in 2010 through reconnaissance mapping.  The prospect, approximately 3.4km long (Figure 12), was given the initial name of ‘Lara’.   Two RC drill holes were completed in late 2010 to provide initial samples of the mineralisation for metallurgical testing.   Both assay results and the preliminary metallurgical test work were highly encouraging.  Further drilling was planned and a number of botanical surveys completed earlier in 2011 to facilitate drill approvals.

Resource drilling at the Die Hardy Range magnetite project was completed in September 2011. Total drilling for the project comprised 25 holes for 7214m (Figure 13).  The drilling was aimed at providing sufficient drill data to enable an Inferred Mineral Resource to be estimated for the prospect. Two kilometres of the 3.4km strike length was targeted in the stage 1 drill campaign. Drilling to date has tested 1.8km of strike of the main banded iron formation (BIF) unit representing approximately 50% of the total length.  All drill fences intersected a thick (100m – 300m) magnetite bearing BIF unit dipping steeply to the south (Figure 14).

Figure 13: Die Hardy Drilling

Modelling and mineral resource estimation for the stage 1 drilling was completed by consultant firm CSA Global in October and resulted in a JORC reportable Indicated and Inferred Mineral Resource at a 20% Fe cut-off grade of 353 million tonnes at 26.1% Fe.  The mineralisation remains open along strike and at depth.             

Figure 14: Die Hardy Cross Section

Davis Tube Recovery (DTR) results and metallurgical test work indicates that a concentrate can be produced exceeding 69% Fe with low levels of contaminants.  This indicates that the mineralisation can be treated and has excellent potential for producing a saleable concentrate. Modelling of the highly encouraging metallurgical properties indicated a high grade concentrate (112 Mt of grading 69.2% Fe) with low contaminants could be produced following grinding and magnetic separation. 

The resource remains open along strike and at depth with the overall Die Hardy Exploration Target for magnetite  remaining at 830 Mt – 1.38 Bt at 25-35% Fe*.  Feasibility studies have commenced in 2012 focussing initially on better defining the metallurgical properties of the mineralisation.

• Radar Iron advises that the potential quantity and grade of iron deposits reported as exploration target potential is conceptual in nature and there has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource.

The Die Hardy Resource reported at a 20% Fe cut-off is:

CSA modelled the results from The Davis Tube Recovery (DTR) analyses completed on material pulverised to 80% passing 50 micron, were modelled and produced an indicative concentrate inventory of: