Wilcherry Hill

Boxes Ticked Towards Development

Over 52,000m of drilling completed: premium quality skarn magnetite identified and discovery of large BIF Hercules deposit (click on Hercules to link to main Projects/ Hercules page).
JORC compliant Resource of 69.3Mt (48Mt Indicated, 21Mt Inferred) and 600-700Mt target potential.
Hercules JORC compliant Resource of 193Mt (193Mt Inferred) and 1Bt - 1.5Bt target potential.
Sales and marketing agreement with OMS Materials finalised.
Extensive metallurgy work defined premium quality crystalline magnetite.
Native Title Agreement signed with Gawler Ranges Native Title Claim Group.
Mining Lease Proposal approved by S.A. Government in October 2011.
Early Works approved and many already completed.

Approvals

IronClad has recently been granted approval for a Mining Lease and adjoining Miscellaneous Purpose Licences to proceed with mine operations at Wilcherry Hill. The proposal was assessed by the Department of Primary Industries and Resources South Australia (PIRSA). The term of the Mining Lease will be for a period of up to a maximum period of 21 years. Once a lease is granted, it is subject to any additional conditions imposed on the mine operator by the Minister for Mineral Resources Development. The size of the Mining Lease cannot be expanded to cover other areas of land without additional approval.

IronClad submitted a Mining Lease Proposal on 7 February 2011

The Mining Lease Proposal identifies the current social, physical and ecological environment of the project area, details the project description, assesses the likely impact of the project and identifies management and mitigation measures that will be implemented to minimise impacts. This document will be assessed by the regulators and in granting a mining lease, the Minister for Mineral Resources Development will give proper consideration to social, environmental and economic factors, in making a decision on a proposed lease. To meet this assessment requirement, all proposals for Mining Leases in South Australia must demonstrate their overall lasting worth to the community and show a net benefit that considers economic, social and environmental impacts.