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Paragraph 5 Lodaestone from the web site.


Regional Exploration

Gindalbie controls a highly prospective portfolio totalling 1900sqkm in the Mid West, with the Karara tenements accounting for just 20% of that area.

The Company’s geologists believe that small-to-medium sized hematite orebodies represent the principal exploration target within the Company’s Mid West tenure, in addition to the world-class magnetite deposit already defined at Karara.

Key hematite targets include the Shine and Gap Prospects, located within the Warriedar Joint Venture (Gindalbie 60%, Royal Resources 40%), 45km north of Karara, Porcupine, located 10km north-east of Karara, as well as Johnnys, Karara West, Hinge and Brac.


While same minimal regional exploration is continuing, Gindalbie recognises the importance of dedicating as much of the Company’s available resources to the rapid development of the flagship Karara Iron Ore Project.


Gindalbie is also confident that additional hematite and large Karara-style magnetite resources can be identified at other prospects within its tenements, such as the Lodestone Prospect, which comprises a Banded Iron Formation (BIF) 6km long and up to 0.8km wide.

The Company has also defined a high-grade magnetite resource at depth below the Blue Hills North (BH2) hematite deposit, which is located on the Karara tenements, 5km along strike from the Karara magnetite deposit, as summarized below: