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Mining company Magnetite Mines has begun drilling at the Ironback Hill project, located in the northeast of South Australia, to confirm and expand near-surface rare earth mineralization. This follows the resolution of delays caused by heavy rain and flooding in the region that prevented access to the site.
What exactly is planned?
The company will drill up to 2,000 meters using a technique called “air core”, which uses compressed air to bring up soil samples. The objective is to map how far the rare earth-bearing clays extend, how thick they are, and whether they are continuous.
They also want to obtain additional samples to study the mineral composition and how it could be processed.
Why is it important?
The rare earths are not in hard rock, but in shallow clays near the surface, associated with ancient creeks and drainage systems, which are used to manufacture magnets, batteries, phones, electric vehicles, etc. The identified mineralization occurs in shallow clay horizons, suggesting an origin linked to weathering and fluvial transport processes.
In fact, the company’s geological model indicates that rare earths may have concentrated in areas where materials have been eroded and redeposited, extending the potential beyond the areas previously drilled.
Company statements
Tim Dobson, Managing Director, explains that this is a small, phased program, low-cost, designed to explore in a disciplined manner, in order to gain a solid understanding of the geology before investing more money. They also clarify that the company’s main project remains the Razorback iron ore project; however, Ironback Hill is part of its diversification strategy, so as not to rely on a single commodity.
The results obtained in this phase will be incorporated into the company’s geological model to define new drilling campaigns and advance the project’s economic evaluation.
Source: Magnetite Mines