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Radar Iron Limited (RAD)
is a publicly listed company on the Australian Securities Exchange (ASX).


{{businessSummary}}

General Overview

About Radar Iron Limited

Radar Iron Ltd is an iron ore company that listed on the Australian Securities Exchange (ASX) in December 2010. Radar has three key projects:

  • Yerecoin Magnetite WA – 404Mt Resource, close to accessible infrastructure and able to be developed for a low capital cost in the near future
  • Uruara Hematite Project, Brazil – farm-in commenced on high grade iron project in Para State, Brazil, close to Amazon River transport network, and;
  • Central Yilgarn Project WA – Hematite and magnetite resources defined with infrastructure options once Port of Esperance expanded.

Radar has a key focus of developing iron projects with accessible infrastructure solutions that can be brought into production in the near term for a low capital cost and which will add value for all shareholders.


Projects

Yerecoin

RAD

In April 2014 Radar acquired multiple iron ore tenements located within 150km north and east of Perth, WA. The style of mineralisation is typical for Western Australia – being banded iron formation hosted.

The acquisition involved two 100% owned project areas:

  • Yerecoin Project – 5 tenements covering 320 km2
  • Northam Tenements – 5 tenements covering 181 km2

Key aspects of the project/acquisition were as follows:

  • A large iron ore tenement holding (501km2) in the south west region of Western Australia, including the Yerecoin Project close to Perth with a 404MtJORC Inferred resource.
  • Yerecoin mineralisation requires only a coarse grind (down to 105 micron) and simple processing produces an excellent concentrate grade (>68% with low impurities) resulting in a product that can be transported and used as sinter feed, similar to DSO fine ores. Product of this quality is increasingly sought after in world markets.
  • An economic study completed by Radar, on the Yerecoin Project indicates the potential economic viability of the development for a low capital cost.
  • The location of the deposit directly adjacent to a WA Government owned rail line will enable transport to the port of Kwinana for relatively low cost with several berth options being considered to enable export.

Johnston Range Evanston

RAD

Radar has access to a large group of tenements, located between 100km and 190km north of the town of Southern Cross Radar Iron's granted tenements comprise iron ore rights to approximately 1,100km2 of ground making Radar one of the largest leaseholders in the district. Radar has already identified hematite and magnetite JORC reportable resources on the project.

Development of the project is contingent on expansion of the Port of Esperance. The WA State Government announced in May 2014 the successful tenderer to undertake this expansion to at least 20Mt total capacity. Development is expected to be complete in 2016 and Radar will re-focus on developing this project once the time line is finalised.

The Johnston Range/Evanston tenements are located about 170 – 190km north of Southern Cross and about 30km north of Cliffs' Windarling operations. The project tenements cover the central portion of the Marda-Diemals greenstone belt. The area contains extensive areas of BIF extending over 50km of strike. Almost all the BIF has been only cursorily explored.

The tenements lie on Diemals Pastoral Station and largely outside any proposed nature parks or reserves. There are no Native Title claims over the project area.

Until recently, exploration in the area focussed on gold and nickel mineralisation although in later years, prior to Radar's involvement, the focus was on the discovery of surface-enriched hematite/goethite deposits, mainly through techniques such surface sampling and geophysical surveys along with limited drilling.

In total, the ground contains over 200 strike kilometres of banded iron formation (BIF). Much of the ground, despite having excellent potential, has not been explored to any degree for iron mineralisation and hence remains prospective for new discoveries. Preliminary assessment from both field reconnaissance and using geophysical interpretation indicates that significant potential for both hematite and magnetite mineralisation.

Die Hardy

RAD

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, 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. 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.

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.

Yilgarn Regional Exploration

Radar's tenements contain over 120 linear kilometres of BIF outcropping as low ridges. Recent exploration has confirmed the presence of substantial hematite and magnetite mineralisation and resulted in maiden resource estimations.

Even with recent drill testing, only possibly 25% of the highly prospective potential hematite enriched areas have been tested to any degree. Further regional mapping and geophysical programmes will be used to identify the most prospective areas for future drill testing. The established potential for multiple hematite ore bodies creating a critical mass and the existing infrastructure being utilised for a relatively low capital cost should permit hematite mine production well into the future.

Exploration Potential for magnetite of 5.0Bt - 7.0Bt at 20-45% Fe* over Radar's tenements has also been defined through assessment of geophysical properties and field validation. The focus for magnetite remains on the Die Hardy project (given the excellent results to date) but further drilling is highly likely to enable further resources to be defined.



Contact Info

Radar Iron Limited

Suite 7
55 Hampden Road
Nedlands, WA
AU Australia, 6009

Phone: +61 8 9389 9919
Email: info@radariron.com.au
Website: http://www.radariron.com.au

Click here to view the interactive map
Radar Iron Limited Google Map
Radar Iron Limited Google Map

Share Registry

Security Transfer Registrars Pty. Ltd - Click here to view share registry profile

Phone: +61 8 9315 2333
Fax: +61 8 9315 2233
Email: registrar@securitytransfer.com.au
Website: http://www.securitytransfer.com.au

770 Canning Highway
Applecross, WA
AU Australia, 6153


Important Information

The General Overview, Services, Products and Projects information for this profile was last edited on 09 Jun 2015.

All Financial Data is provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Share Prices nor any independent data provider is liable for any informational errors, omissions or other defects, incompleteness, or delays, or for any actions taken in reliance on Financial Data.

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