Wilcherry Hill

IronClad Mining’s tenements in South Australia are collectively known as the Wilcherry Hill Project and are located 30km north of the township of Kimba. The Wilcherry Hill Project comprises of four tenements and covers an area of 976 square km. The tenements are EL4162-Wilcherry Hill, EL4286-Valley Dam, EL4421-Peterlumbo, EL3981-Eurilla Dam.

The area is comprised of natural bush which is confined to low density sheep grazing on the station holdings of Nonning and Buckleboo. Access into the Project area is gained via the sealed Eyre Highway (National Highway 1) which passes through Kimba and then via graded service roads and pastoral station tracks.

Project Highlights

Expansion of JORC compliant iron resources from 44 Mt to over 263 Mt through +50,000m 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 1.5Bt 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.

Feasibility study

Low start-up capital cost of approximately $26 million: robust return and 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