Totals: Top 20 holders of ORDINARY FULLY PAID SHARES 66,992,347 54.95%
OUR MAJOR PROJECTS
Bona Well Project (This is their project next to ENT) Ive moved it to first, but its not their major project, its down the list on their website:
http://www.ironmountainmining.com.au/_inc/res/maps/bonag.jpg (map of tenenment from IRM website)
The project is located approximately midway between Mt Gibson Iron Ltds Wolla Wolla project and Ferrowest Ltds Yogi project. Geological mapping and aeromagnetic imagery of the project area show prospective banded iron formations of up to 7km of strike. Thrust faulting which has resulted in multiple, sub parallel banded iron formations is a further indication of prospectivity for iron mineralisation. The project is an early stage exploration opportunity to explore for iron ore in an easily accessible and favourably located area.
Windarling East Project
Exploration of this tenement, once granted, will focus on the banded iron formations in the Jackson Greenstone belt which elsewhere hosts economic iron deposits. Geological mapping of the project area and aeromagnetic data indicate the possibility of multiple banded iron formations within the tenement covering up to 5km of strike. The project is located approximately 20km to the east of the haul road linking Portman Mining Ltds Windarling resource to its Koolyanobbing plant site.
Blythe River Project
The company's main project, the Blythe River Project, is located near Natone approximately 10km from the deep water port of Burnie in Tasmania. Previous exploration for iron and copper on the Company's tenements has identified potentially economic magnetite and haematite mineralisation. The company has entered into a joint venture with Red River Resources Limited, an ASX listed company, to explore this project.
Mt Richardson Project
This tenement is located close to Jupiter Mines Ltds Mt Mason and Mt Ida projects. The tenement contains known mineralisation for iron and copper. The project area encompasses several iron-rich banded iron formations offering a large prospective target area. Samples of high-grade haematite up to 67% Fe have been recovered. The geological setting also suggests that the tenement is prospective for gold. Systematic testing of structural targets is planned.
Kununalling Project
Aeromagnetics and Landsat imagery of the project area indicate the possibility of up to a 20km of strike of banded iron formations. This project is an early stage exploration opportunity to explore for iron ore.
Wyloo Project
This tenement partly covers the Boolgeeda Iron Formation, the uppermost unit of the Hamersley Group and is surrounded by a number of major iron ore projects in the Pilbara region of Western Australia
Miaree Project
The Miaree area contains the Miaree Magnetite Trend, which is an exploration target of up to 1-2 billion tonnes of magnetite-bearing rock. This prospective zone has very similar magnetic field strength to the nearby Balmoral and Cape Lambert magnetite deposits, which contain recoverable grades of 40-45% magnetite. As there is a very close correlation between magnetic intensity and magnetite content, it is likely that portions of the Miaree Magnetite Trend contain similar magnetite contents. This has to be confirmed by drilling. The area also holds potential for the delineation of direct shipping grade hematite deposits. Red River has entered into an agreement where, subject to preparation of an independent experts report and subsequent approval by shareholders, Iron Mountain Mining Limited can earn 70% equity in the project area (and in Wongan Hills) by the expenditure of $4.75 million. The area is well served by infrastructure being close to the coast, the North West Coastal Highway, the Dampier to Bunbury gas Pipeline, electricity and also, the town of Karratha.
PBX Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held
