Iron Road Ltd · ASX:IRD
Iron Road — Investor Presentation (May 2022)
65 slides from Iron Road's investor presentation, May 5, 2022
Slide 1: CEIP Field Guide Presentation
05 May 2022 ASX ANNOUNCEMENT Iron Road Ltd (Iron Road, ASX: IRD) For personal use only CEIP FIELD GUIDE PRESENTATION Iron Road Ltd (Iron Road, ASX: IRD) (Company) lodges the following CEIP Field Guide Presentation slides and accompanying notes for the Warramboo orebody and proposed Cape Hardy port p
Slide 2: Central Eyre Iron Project Field Guide
For personal use only Central Eyre Iron Project Field Guide Warramboo Orebody & Cape Hardy Port 2022 Eyre Peninsula site visit material This Field Guide is representative of material Iron Road provides when hosting potential project investors/partners on site at the proposed Warramboo mine and Cape
Slide 3: Central Eyre Iron Project overview and components
Scale 100km For personal use only (Obsolete on EP) The Central Eyre Iron Project (CEIP) is located on the Eyre Peninsula and provides a complete mine to customer solution. The project consists of three major components: • A mine and processing plant near Warramboo about 28km southeast of Wudinna. •
Slide 4: Mine Site - Orebody Definition
- Mine Site - Orebody Definition For personal use only With respect to the proposed Warramboo mine and large magnetite orebody, it is necessary to firstly describe how the exploration process evolved over time from analysis of remote sensing (aeromagnetics) to carefully planned diamond drilling, ana
Slide 5: Early exploration history of Warramboo
For personal use only The identification of significant magnetic anomalies in the Warramboo area of the Eyre Peninsula occurred during reconnaissance airborne surveys flown in 1953‐55 by the Bureau of Mineral Resources (BMR). The anomalies were first followed up by the South Australian Department of
Slide 6: Regional aeromagnetic surveys and exploration targets
For personal use only The occurrence of lithologies prospective for mineral exploration across South Australia may be indicated by regional gravity and aeromagnetic surveys flown on a relatively wide spacing. In the case of prospective magnetite‐rich deposits, magnetic anomalies identified from aero
Slide 7: High resolution aeromagnetic survey 2009
For personal use only 6 During 2009 4,153km of high resolution aeromagnetic surveys were flown by the Company across the exploration licence at a traverse spacing of 50m and a sensor height of 20m. Note that the exploration licence outline shown in the figure has since been reduced by 25% with all p
Slide 8: Inversion modelling section 562140mE
For personal use only Scale 2500m Section 562140mE From the high resolution aeromagnetic data, inversion modelling was undertaken to better define subsurface geology and the placement of exploratory drill holes. In this instance a north‐south section line from 562140mE has been selected and is shown
Slide 9: Murphy South Prospect section 562140mE
Drill Section 6320800mN 6321200mN 6321600mN 6322000mN 6322400mN 176 157 156 155 For personal use only Model Section 6320800mN 6321200mN 6321600mN 6322000mN 6322400mN 179 178 177 176 157 156 155 175 Murphy South Prospect - Section 562140mE Inversion modelling of section 562140mE showing interpreted g
Slide 10: Actual geological cross-section and drilling
For personal use only 450m 1000m Actual geological cross‐section and drilling from 562140mE indicating accuracy of the inversion modelling and its usefulness as a key tool for the detailed planning of drilling programs. Subsequent extensive diamond drilling uncovered and defined a world class magnet
Slide 11: Section 562140E geological solids model
For personal use only SECTION 562140E Looking west Section 562140mN sliced through the geological solids model indicating Fe grades within the magnetite orebody. The similarity in size and shape with the predicted orebody outline using inversion modelling is outstanding. Two vertical drill holes wer
Slide 12: Systematic drilling of the Warramboo orebody
For personal use only Approx. extent of Rob Roy open pit The Warramboo orebody was extensively and systematically drilled across 37 north‐south traverses defined by a notional 200x100m drill spacing. In total 500 exploratory drill holes define the orebody excluding metallurgical, groundwater and geo
Slide 13: Cross-sections defining Fe assays
For personal use only For illustrative purposes only, representative collation of 34 cross‐sections from the geological solids model defining Fe assays for the Murphy South‐Rob Roy and BooLoo‐Dolphin deposits (Warramboo orebody). 12
Slide 14: JORC Mineral Resource 4.5Bt
For personal use only JORC Mineral Resource- 4.5Bt Geological solids model defining a global Mineral Resource of 4.5Bt magnetite gneiss. 13
Slide 15: JORC Ore Reserve 3.7Bt
For personal use only JORC Ore Reserve‐ 3.7Bt 21.5Mtpa Open Pit optionality - 7.4km long, 3km wide Pit shell for 21.5Mtpa mining option defining an Ore Reserve of 3.7Bt magnetite gneiss. This is the largest Ore Reserve for any magnetite occurrence in Australia. 14
Slide 16: Lower capital 12Mtpa option
Lower capital 12Mtpa option For personal use only Approved 21.5Mtpa option • Lower capital 12Mtpa pit shell wholly within previous 21.5Mtpa & 24Mtpa (optimisation study) pit shells. • Compared with the approved 21.5Mtpa and 24Mtpa options, the 12Mtpa mine plan significantly reduces upfront project c
Slide 17: 12Mtpa Open Pit final pit
For personal use only Scale 1km 12Mtpa Open Pit - Final pit 6.4km long, 1.3km wide, 642m deep • Defined 12Mtpa mine plan over Stages 1‐8. • Blasting and mineral sizers is first stage of crushing. • Conventional truck and excavator in‐pit. • Waste trucked from pit to integrated waste landform (IWL) –
Slide 18: Mine site general arrangement
For personal use only Mineral Lease outline Scale 1km General arrangement of mine site. Mineral Lease extent is 6,414Ha and encapsulates the entire mining operation including processing plant and Integrated Waste Landform (IWL). 17
Slide 19: Aerial photograph of drilled area
For personal use only Mineral Lease outline Scale 1000m Aerial photograph of the area drilled at Warramboo with traverse lines and 200x100m drill pads visible across part of the area outlined. 18
Slide 20: Drill pads at 200x100m spacing
For personal use only Drill pads at 200x100m spacing prior to rehabilitation (December 2011). 19
Slide 21: Diamond drills on north-south traverse
For personal use only Diamond drills on north‐south traverse. Almost all drilling was oriented at ‐60° true north (December 2011). 20
Slide 22: Notional 200x100m drill spacing
Drill rig #1 For personal use only Drill rig #3 . Drill rig #2 200m . . 100m Notional 200x100m diamond drill spacing. Typically between three to five drill rigs would be involved in each of the drilling programs and operate 24/7 (December 2011). 21
Slide 23: Drill collar IDs
IRD398 IRD397 IRD396 IRD448 IRD393 IRD392 IRD391 IRD390 IRD445 IRD388 IRD389 IRD385 IRD387 IRD384 IRD383 IRD382 IRD450 IRD381 IRD377 IRD380 IRD376 IRD379 IRD375 IRD440 IRD374 IRD439 IRD373 IRD369 IRD372 IRD368 IRD371 IRD367 IRD366 For personal use only IRD365 IRD364 IRD358 IRD363 IRD357 IRD356 IRD35
Slide 24: Diamond drills oriented at -60°
For personal use only Diamond drills oriented at ‐60° true north. 23
Slide 25: Tighter 100x50m drilling pattern
For personal use only Tighter drilling pattern of 100x50m utilising four diamond drill rigs to allow for a representative variography model to be constructed for Mineral Resource estimation. 24
Slide 26: Diamond drill core in core tray
For personal use only Diamond drill core being placed in core tray by driller. Rock Mass Quality (RQD) is excellent with recovery of long continuous core runs common. 25
Slide 27: Downhole surveys and measurements
For personal use only Downhole north seeking gyro surveys, density, magnetic susceptibility measurements etc. were routinely undertaken for all drill holes 26
Slide 28: Core processing and logging
For personal use only Processing and logging of core by geotechnicians and geologists on site. 27
Slide 29: Geotechnical and geological logging
For personal use only Each diamond drillhole was geotechnically and geologically logged and assayed. 28
Slide 30: Core splitting and assay
For personal use only NQ2 diamond drill core was split using an automated diamond core saw with one half retained and the other half sent to the mineralogical laboratories for assay using XRF techniques for an iron ore suite of 26 elements. 29
Slide 31: NQ2 core of magnetite gneiss
For personal use only NQ2 diamond core stored in core tray‐ very coarse‐grained magnetite gneiss. 30
Slide 32: Very coarse-grained magnetite gneiss
For personal use only Very coarse‐grained magnetite gneiss. Note the granular texture of gneiss. 31
Slide 33: Warramboo magnetite gneiss versus WA BIF
For personal use only WA BIF Warramboo Magnetite Gneiss WA BIF 200µm • Warramboo ore comprises a magnetite gneiss, not a banded iron formation (BIF) as is the case for almost all magnetite deposits located in Western Australia (WA). • Being very coarse‐grained the ore upgrades easily‐ at the first s
Slide 34: Groundwater monitoring bore
For personal use only Groundwater monitoring bore at the proposed Warramboo mine site. 33
Slide 35: Baseline noise and dust monitoring
For personal use only Baseline studies at the proposed Warramboo mine site involved inter‐alia noise and dust monitoring. 34
Slide 36: Hambidge prospect
For personal use only The Hambidge prospect occurs approximately 20km to the south of the Warramboo orebody, within the same exploration licence. The prospect is defined by a large magnetite anomaly that was tested in 2011 by drilling four traverses comprising a total of 12 diamond drill holes. Note
Slide 37: Hambidge drilling cross sections
For personal use only The four diamond drilling traverses are shown in the above cross sections indicating the potential for a significant magnetite mineral resource in addition to that already proven at Warramboo. Refer ASX Release ‘Central Eyre Iron Project – Hambidge’ dated 29 November 2011. 36
Slide 38: Infrastructure - Ancillaries
- Infrastructure - Ancillaries For personal use only 37
Slide 39: Power transmission line
For personal use only • Major $300 million works to construct a new 270km, high‐voltage transmission line across the Eyre Peninsula is well advanced with ElectraNet advising the new line is expected to be energised by the end of 2022. • ElectraNet states that as well as providing a more secure and r
Slide 40: Kielpa borefield water supply
For personal use only • Kielpa borefield located 60km along infrastructure corridor from the Warramboo mine site. Designed for 10x bores ‐ four bores drilled to date, three investigative and one production bore. • The saline aquifer identified is hosted in Tertiary sediments within the Polda Trough
Slide 41: Wudinna airport upgrade
For personal use only WUDINNA Proposed upgrade to Wudinna airport to accommodate 75 seater Bombardier Q400 aircraft. • Runway widened to 30m. • Runway, taxiway and apron pavements strengthened to Bombardier Q400 standard. • Runway strip widened to 150m. • Taxiway widened to 15m. • New 60m x 60m apro
Slide 42: Port Site - Location & Extent
- Port Site - Location & Extent For personal use only At the proposed Cape Hardy port site the scale of the 1,200Ha precinct is immense and visitors are escorted to several key points to allow for a true appreciation of this. 41
Slide 43: Cape Hardy strategic export site
CEIP mine site Cape Hardy For personal use only Port Lincoln Adelaide Image- NASA Cape Hardy represents a key strategic export site for bulk commodities validated by a comprehensive SKM (now Jacobs) study covering both the east and west coasts of Eyre Peninsula. • Natural deep water at Cape Hardy pr
Slide 44: Cape Hardy Port Precinct 1200Ha
For personal use only Cape Hardy Port Precinct 1200Ha Scale 1000m The Cape Hardy port precinct comprises 1,200Ha of prime gulfside land, 100% owned by Iron Road. This large land footprint is the foundation for the vision of an industrial port precinct and associated green manufacturing and multi‐com
Slide 45: Preliminary CEIP facility layout
For personal use only Preliminary CEIP facility layout superimposed on aerial photo. Graphic on the right shows an additional Handymax/Panamax wharf halfway down the jetty on its western side. This wharf will service bulk grain export and be independent of the iron concentrate loading facilities. 44
Slide 46: Iron concentrate handling layout
For personal use only General arrangement showing preliminary iron concentrate handling layout: • Road haulage entry point at northern perimeter. • Up to 500kt concentrate stockpile circa 1km long with stacker/ reclaimer arrangement. • Jetty conveyor feeding onto causeway/ jetty and dedicated shiplo
Slide 47: Wave data and bathymetry
For personal use only Following Cape Hardy’s identification and validation as a prime site for the port location, a measuring buoy was stationed offshore to gather data as shown in the wave and current roses. This data supports all year round shipping due to relatively placid Spencer Gulf conditions
Slide 48: Artist's impression of Cape Hardy port
For personal use only Artists impression of Cape Hardy port with Capesize vessels (iron concentrate) and Panamax vessels (grain, miscellaneous bulks and goods) at their respective berths. Module offloading facility (MOF) and tug harbour at causeway. 47
Slide 49: Looking east along Brayfield Road
For personal use only Cape Hardy ‐ looking east along Brayfield Road. 48
Slide 50: Looking south along western boundary
For personal use only Cape Hardy ‐ looking south along western boundary. 49
Slide 51: Looking east from road intersection
For personal use only Cape Hardy ‐ looking east from Brayfield Road and North Coast Road intersection. 50
Slide 52: Looking southeast from road intersection
For personal use only Cape Hardy ‐ looking southeast from Brayfield Road and North Coast Road intersection. 51
Slide 53: Looking southeast from northern boundary
For personal use only Cape Hardy ‐ looking southeast from North Coast Road on northern boundary. 52
Slide 54: Looking south along North Coast Road
For personal use only Cape Hardy ‐ looking south along North Coast Road from intersection with Brayfield Road. 53
Slide 55: Looking northeast along coastline
For personal use only Cape Hardy ‐ looking northeast along coastline. Cape for jetty construction in middle distance, Cape Hardy headland proper in far distance (yellow arrow). 54
Slide 56: Cape for jetty construction
For personal use only Cape Hardy ‐ cape for jetty construction in background (yellow arrow). 55
Slide 57: Headland for causeway/jetty construction
For personal use only Cape Hardy – headland for causeway/jetty construction. 56
Slide 58: Cape Hardy grain grower benefits
Scale 100km For personal use only • Cape Hardy recognised by Eyre Peninsula farmers from the early 1930’s as an optimal port locality – view now shared by prospective primary producers and key stakeholders. • Naturally protected deep water access (no dredging requirements), no urban encroachment and
Slide 59: Capesize capable port and staged development
For personal use only The planned export facility at Cape Hardy is designed to be South Australia’s first Capesize capable port and both the port and industrial precinct will be developed over a number of stages. Infrastructure Australia has identified the potential for Cape Hardy to ultimately inte
Slide 60: Current Cape-class ports
For personal use only Current Cape-class Ports Bulk mineral resource developments in South Australia have been held back (in part) by a lack of enabling and industry competitive export infrastructure. Cape Hardy is planned to be the next deep‐water port between Esperance and Port Kembla (first Cape‐
Slide 61: Vision for Eyre Peninsula industry and green hydrogen hub
For personal use only Iron Road and supportive CEIP stakeholders believe the proposed mine near Wudinna and industrial port precinct and green hydrogen manufacturing & export hub at Cape Hardy, are a key catalyst for transformational renewal and diversification of businesses and industry on the Eyre
Slide 62: Early-stage works on Cape Hardy port project
For personal use only Iron Road has progressed early‐stage works on the broader Cape Hardy port project. This slide provides a conceptual layout of future manufacturing and export opportunities that could co‐exist at Cape Hardy. • Milestones associated with the extinguishment and relocation of vario
Slide 63: Contact details
For personal use only Authorised for release by the board of Iron Road Ltd For further information, please contact: Larry Ingle, Chief Executive Officer Iron Road Ltd Level 3, 63 Pirie Street Adelaide SA 5000 Australia Tel: +61 8 8214 4400 Or visit ironroadlimited.com.au ASX: IRD admin@ironroadlimit
Slide 64: CEIP Ore Reserve Summary
Appendix Table 1 – CEIP Ore Reserve Summary Metric Resource Fe SiO2 Al2O3 Tonnes Classification (%) (%) (%) (Mt) Proved 2,131 15.55 53.78 12.85 For personal use only Probable 1,550 14.40 53.58 12.64 Total 3,681 15.07 53.70 12.76 The Ore Reserves estimated for CEIP involving mine planning is based on
Slide 65: CEIP Global Mineral Resource
Appendix Table 2 – CEIP Global Mineral Resource Tonnes Fe SiO2 Al2O3 P LOI Location Classification (Mt) (%) (%) (%) (%) (%) Measured 2,222 15.69 53.70 12.84 0.08 4.5 Murphy South/Rob Roy Indicated 474 15.6 53.7 12.8 0.08 4.5 Inferred 667 16 53 12 0.08 4.3 For personal use only Boo-Loo/Dolphin Indica