Iron Road Ltd · ASX:IRD
Iron Road — RIU Explorers Conference 2011
24 slides from Iron Road's conference presentation, Feb 23, 2011
Slide 1: Delivering Iron Ore Opportunities: On the Road to Development
eee —imited Delivering Iron Ore Opportunities AS ase On the Road to Development Andrew Stocks, Managing Director RIU Explorers Conference, 23 February 2011
Slide 2: Forward-Looking Statements
Iron Road limited Forward-Looking Statements This presentation contains forward looking statements concerning the projects owned by Iron Road Limited. Statements concerning mining reserves and resources may also be deemed to be forward looking statements in that they involve estimates based on speci
Slide 3: Iron Road is a developer of iron ore projects in Western Australia and South Australia
Iron Road is a developer of iron ore projects in Western Australia and South Australia. Due to time constraints I will only be talking today about our main project, the Central Eyre iron project, or CEIP. So as we go through the presentation, bear in mind that the CEIP is a large magnetite project i
Slide 4: IPO June 2008, GFC, and the Sentient Group on the register
IPO June 2008, GFC not long after, later weakness due to RSPT/MRRT and options expiry 30 September 2010; A key feature of the IRD share register is The Sentient Group. Sentient is a private equity firm specialising in resources projects; Company maintained work levels during GFC with the suppo
Slide 5: Iron Road listed on the ASX in June 2008 and commenced CEIP review
Iron Road listed on the ASX in June 2008 and immediately moved to commence its review of the CEIP. The review was broken into three sequential stages, each addressing important criteria. The results of this review include size potential, potential concentrate specifications and mineral resource. 5
Slide 6: Current work and key aspects of the CEIP
Current work Mineral Resource at February 2011 is 1.2Bt – the largest in South Australia Exploration target of 2.87‐5.75Bt magnetite gneiss Pre‐feasibility study Infrastructure studies Community engagement and impact study The CEIP has many high order targets, however we are concentrating
Slide 7: Current work and Mineral Resource of 1.2Bt
Now to cover off on what we are currently doing and how me meet other criteria necessary for this project to be a success. The mineral resource at Boo‐Loo and Dolphin is 328Mt, with a further 907Mt at Murphy South giving a global Mineral Resource on the CEIP of 1.2Bt. Geotechnical drilling is in pro
Slide 8: Murphy South cross-section
• Murphy South cross‐section as shown by black box on the previous slide – resource block model by Coffey Mining • The overall geometry suggests a large isoclinal fold (closure to south) • Subsequent Stage V drilling showed consistent results on each section as they were drilled • Cross‐section indi
Slide 9: 2011 drilling programmes
2011 drilling programmes will include investigations to Murphy South extension (east and west) and other high potential areas within the CEIP 9
Slide 10: We have engaged accomplished consultants to assist us
We have engaged accomplished consultants to assist us. 10
Slide 11: Benchmarking - Concentrate Fe Grade
Benchmarking - Concentrate Fe Grade Fe DTR Grade (%) 73 71 69 67 65 63 61 59 57 55 Iron Road limited GIR-Yerecoin@ EMG.Beyondic @ @ VMC-Yalgoo ARHBalmgral car aio © RO-CEIP (Pye 53 micron) AGO-Ridie GBG-Karare @ @ IRD-CEIP (Pg 75 micron) CXM-Bungalow ACS-Magnetite Range © CFE-Cape Lambert IRD-CEIP (
Slide 12: Benchmarking - Concentrate SiO2 Grade
Benchmarking - Concentrate SiO, Grade Iron Road limited 14 @ =FXR-Mt Oscar ta 2 BS a 40 © CFE-Cape Lambert © o a & Ke a x 6 “is Rie fe) ACS-Megnetite Range # © cxN-Bungalow Silica upper limit ” GBG-Karara @ IRD-CEIP (Pep 106 micron) @ 4 AGO-Ridley ® ® ARH-Salmoral GRR -Southd: @ IRD-CEIP (Psy 75 mic
Slide 13: Projects above the Ideal Ratio line are Banded Iron Formations
Majority of the projects above the Ideal Ratio line are Banded Iron Formations and are generally geologically younger than those below the line. CEIP is not only desirable due to the coarse grind, but also due to the SiO2/Al2O3 ratio – ideal complementary blending ore. 13
Slide 14: Process design and grind size
One possible process scenario is shown here. Key features of this process design include: • Early rejection of waste by dry and subsequent wet magnetic separation; • Early rejection of waste reduces power consumption and therefore operating costs; • Simple process, without flotation. Many of our pee
Slide 15: Dry magnetic separation test work
The CEIP test work has demonstrated exceptional response to dry magnetic separation at 14‐21mm particle size – nearly 50% rejection of feed and corresponding upgrade in grade. 15
Slide 16: Material transport and infrastructure
And of course, material transport. • We are currently considering a slurry pipeline as the operating cost is considerably lower than rail; • Our studies include power form Port Augusta; and • We have been in discussions with numerous parties for some time concerning potentially shared infrastructure
Slide 17: Iron ore company focussed on developing its flagship Central Eyre Iron Project
Iron ore company focussed on developing it’s flagship Central Eyre Iron Project. Pre‐Feasibility study for potential 10Mtpa operation expected to be delivered in 1Q 2011; Significant 4 billion tonne target identified by Coffey Mining; Resource of 1.2Bt already identified; Test work indicat
Slide 18: Strong community relationships and local government support
Strong community relationships and local government support. 17
Slide 19: On the Road to Development
Iron Road limited On the Road to Development aire com 18
Slide 20: Appendix — Board & Management
Appendix 1 — Board & Management Iron Road limited Chairman Non-Exec Director »— ~~ Non-Exec Director Julian Gosse lan Hume Jerry Ellis Company Secretary Graham Anderson Project Manager ~ Fop Venderhor Geology Manager Milo Res General Manager Larry Ingle Non-Exec Director Managing Director Matthew Ke
Slide 21: Appendix 2a — CEIP Resource Statement
Appendix 2a — CEIP Resource Statement Iron Road limited phy South Mineral Resource Estimate = ones 4 Tonnes Fe ‘SiO. A\,0. 2 Lol Resource Classification idation Material Type *e ae oe a (mt) (6) (96) (96) (%) (%) Fh Disseminated 242 177 52.4 12.0 0.09 03 resi Banded 53 13.4 54.6 14.1 0.07 os Inferre
Slide 22: Appendix 2b — CEIP Resource Statement
Appendix 2b — CEIP Resource Statement Iron Road limited Boo-Loo Mineral Resource Estimate . Pres L Resource Classification Oxidation ee ie Se non ie a Fresh 277 17.3 $2.5 11.5 0.095 0.5 Inferred Transitional 13 17.0 52.4 11.6 0.094 10.7 Oxide 33 17.2 $2.1 11.6 0.094. 10.3 Total 328 173 524 115 0.095
Slide 23: Appendix 2c — CEIP Resource Statement
Appendix 2c — CEIP Resource Statement Iron Road limited Central Eyre Iron Project Global Mineral Resource Estimate Resource Classification Oxidation pane i aa ae ity a Fresh 572 av. 52.7 12.0 0.09 0.4 Inferred Transitional 40 16.5 51.2 13.2 0.07 7.3 Oxide 81 16.8 $1.1 12.9 0.08 8.2 Total Inferred 69
Slide 24: Appendix — CEIP Metallurgical test work
Appendix 3 — CEIP Metallurgical test work Iron Road limited Fe Mass SiO. ALO; Pp Lol Fore (6) Rec (%) (6) ey (06) (66) Disseminated + 69.7 19.2 Tid! 1.0 0.00 Be Banded? 69.3 124 Oe 1.0 0.00 -3.4 P80 passing -40um 1 based on 1824 DTR composites across the Murphy South deposit only 2 based on 222 DTR