Iron Road Ltd · ASX:IRD
Iron Road — SA Explorers' Conference 2010
25 slides from Iron Road's conference presentation, Nov 29, 2010
Slide 1: Central Eyre Iron Project - Progress Towards Development
lron Road A ae Cimited aks Delivering Iron Ore Opportunities Dene Central Eyre lron Project - Progress Towards Development - Larry Ingle, General Manager 7" SA Explorers’ Conference 26 November 2010
Slide 2: EL3699 located in the centre of the Eyre Peninsula
For personal use only Notes • EL3699 is located in the centre of the Eyre Peninsula • Overview as per bullet points on slide • Staffing levels and number of drill rigs apply during a typical drilling programme 2
Slide 3: Staged drilling across the tenement
For personal use only Notes • Stage I drilling allowed for ‘testing’ of the upper part of the tenement • Stage II and III drilling related to a maiden mineral resource and a later upgrade at Boo-Loo and Dolphin; position on tenement indicated by the yellow ellipse • Stage IV drilling involved testin
Slide 4: Close up of the Boo-Loo and Dolphin area
For personal use only Notes • Close up of the Boo-Loo and Dolphin area. • Stage II drilling collars in green with white indicating the expansion drilling during Stage III • Total strike length of 3.2km • All metallurgical test work referred to in this presentation is derived from samples taken withi
Slide 5: Structural analysis and predictive exploration model
For personal use only Notes • Stage II and III drilling programmes allowed for a detailed structural analysis/study assisted by Coffey Mining that commenced at an early stage • Structural measurements are possible since all holes are RC drilled to top of fresh rock only and then diamond tailed (NQ2)
Slide 6: Boo-Loo cross-sections
For personal use only Notes • The western-most section at Boo-Loo shows steeply dipping magnetite gneiss whilst the eastern-most section shows a flattening and thickening across the Boo-Loo and Dolphin area • Grid is 50mx50m; looking west 6
Slide 7: Boo-Loo and Dolphin resource model
For personal use only Notes • Boo-Loo and Dolphin resource model looking toward the southwest. • Drill hole spacing of 200mx100m • Inferred mineral resource of 328Mt. Important number is the 21% mass recovery not necessarily the head grade of 17.3% • High quality concentrate with low deleterious ele
Slide 8: PFS for Stage I project development
For personal use only Notes • The PFS relates to Stage I project development that encompasses the production of 10Mtpa of high grade iron concentrate • Iron Road has engaged accomplished consultants to assist with the study • The slides that follow cover off on the metallurgical results/test work fo
Slide 9: Oxide cap test work
For personal use only Notes • The deposit has an oxide cap (mainly martite) • Since this component of the orebody is not a major focus of the PFS, limited test work has been done to date • WHIMS at a P100 of 212µm and 10,000 gauss produces a saleable product of 60% iron and 5% silica • Other test wo
Slide 10: Iron concentrate variability across strike length
For personal use only Notes • The iron concentrate indicates low variability across the 3.2km strike length at Boo-Loo and Dolphin particularly at finer grind sizes • This indicates chemical consistency within the orebody and negates the need for blending of ore from stockpiles during mining 10
Slide 11: Dry LIMS mass rejection
For personal use only Notes • Using dry LIMS these curves indicate that 30% mass rejection is possible at a P100 of 25mm • Mass rejection of this magnitude at this size is exceptional since DLIMS very seldom produces satisfactory results for sizes exceeding 5mm 11
Slide 12: HPGR crusher test work
For personal use only Notes • The graph above is one of many produced during extensive high pressure grinding rolls (HPGR) crusher test work • For a HPGR crusher to work favourably the ore to be crushed must meet several criteria and ‘fall’ within a relatively tight envelope • The coarse grained nat
Slide 13: Concentrate grade versus grind size
For personal use only Notes • Iron and silica curves derived from various grind sizes indicates an optimum product at 75um. This grind size is more than double than that of most WA magnetite projects where grinding as low as 28um is required • Despite fine grinding, some WA magnetite projects still
Slide 14: Iron concentrate grade comparison with other projects
For personal use only Notes • CEIP iron concentrate grade is comparable with several other projects but in almost all cases at a far coarser grind. 14
Slide 15: Silica content comparison with other projects
For personal use only Notes • CEIP silica content is comparable with several other projects but in almost all cases at a far coarser grind. 15
Slide 16: Silica:alumina ratio of concentrates
For personal use only Notes • The silica:alumina ratio discriminates between two populations, one relatively silica deficient and the other relatively silica enriched • Note that all the silica deficient iron concentrates are Archaean in age (two are gneisses) whilst those silica enriched appear to
Slide 17: Possible process scenario
For personal use only Notes • Based on the metallurgical test work presented, one possible process scenario is shown Key factors of this process are: Early rejection of significant waste material; Low power consumption (operating costs). Many magnetite projects in Australia have grinds of 28-35u
Slide 18: Infrastructure: slurry pipeline, power, water and port
For personal use only Notes • Iron Road is currently considering a slurry pipeline as the operating cost is a small fraction of rail • Studies include power from Port Augusta • The Company has been in discussions for some time concerning shared infrastructure, including power, water and port 18
Slide 19: Stage V drilling at Murphy South
For personal use only Notes • Apart from the PFS the Company is currently drilling the Stage V programme at Murphy South (collars shown in white) • Murphy South occurs southeast of the existing mineral resource at Boo-Loo and Dolphin (328Mt). 19
Slide 20: Close up of Stage V drilling programme
For personal use only Notes • Close up of the Stage V drilling programme at Murphy South • As per previous resource drilling at the CEIP the current practice is a pre-planned 200mx100m drill spacing to achieve a JORC inferred mineral resource estimate report • The Stage IV ‘discovery traverse’ is sh
Slide 21: Murphy South discovery cross-section
For personal use only Notes • Murphy South discovery cross-section as shown by red collars on the previous slide • The overall geometry suggests a large isoclinal fold (closure to south) • Subsequent Stage V drilling shows consistent results on each section as they are drilled; these are indicated w
Slide 22: Iron Road summary
For personal use only Notes • Iron Road is an iron ore company focussed on developing it’s flagship Central Eyre Iron Project • Significant target identified by Coffey Mining • Mineral Resource of 328Mt already identified, drilling underway to add 400-800Mt • Pre-Feasibility study for potential 10Mt
Slide 23: On the Road to Development
Iron Road limited On the Road to Development © Na onal Shreadlitnited com au 23
Slide 24: 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 25: Appendix - Iron Road Resource Statement
Appendix 1 — Iron Road Resource Statement Iron Road limited Boo-Loo Resource Estimate Orethestion we Mt Fe% | sio,% | Al0,% | P% LOI% Fresh 277 17.3 52.5 11.5 0.095 05 Inferred Transitional 13 17.0 52.4 11.6 0.094 10.7 Oxide 38 17.2 52.1 11.6 0.094 10.8 Total 328 17.3 52.4 11.5 0.095 2.1 The Boo-Loo