| Project: | Central Yilgarn Iron Project |
| Commodity: | Iron (Inferred Resource 5.75 M tonnes at 59.9%Fe) |
| Project Generation: | BIF with iron mineralisation |
| Ownership: | Jupiter Mines Limited 100% |
Geological Setting:
The Mt Mason, Mt Hope, Mt Ida and Mt Alfred tenement areas cover part of the western edge of the Mt Ida greenstone belt, which lies along the eastern boundary of the Southern Cross Granite-Greenstone Terrain. A large scale regional structure, the Ida Fault, marks the boundary between the Southern Cross Granite-Greenstone and Eastern Goldfields. Within the greenstone belt are large scale Banded Iron Formations (BIF).
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Figure 1. Central Yilgarn Iron Project Location Map
Central Yilgarn Iron Project
Mt Mason, Mt Ida, Mt Alfred, Mt Hope and Walling Rock
Jupiter progressed its Central Yilgarn iron Project (CYIP) during the year with some key highlights:
- The Mt mason inferred Resources estimate increased to 5.75 million tonnes of hematite at 59.9% iron
- At Mt Ida, significant intersections of magnetite were returned with initial Davis Tube Recovery (DTR) results producing +70% iron concentrate grades
- Mt Alfred was added to the CYIP expanding the Company’s land holding in the region
- Fauna Surveys were conducted at Mt Mason and Mt Ida, with desktop Flora and Fauna surveys completed at Mt Alfred.
Overview
The Central Yilgarn iron Project (CYIP) area is well positioned to capitalise on existing infrastructure within the region. the project area is approximately 130km by road northwest from the town of Menzies where an iron ore storage and load out facility could be established to access the WestNetRail Leonora to Kalgoorlie railway line and then on to the Port of Esperance for export (Figure 1). Jupiter is at an advantage in that it will have reduced capital expenditure requirements by not having to construct a railway and a port. There will however be capital contributions required to utilise and upgrade the existing infrastructure.
During the year Jupiter completed a ground Gravity Survey at Mt Ida to aid in delineation of potential iron targets. Significant RC drill programs were also completed at both Mt Mason and Mt Ida with the objective of increasing the inferred hematite resource at Mt Mason and identifying further hematite resources at Mt Ida.
At Mt Mason the inferred hematite resource was increased to 5.75m tonnes at 59.9% iron, however at Mt Ida no significant intersections of hematite were recorded. The drilling at Mt Ida did however return significant intersections of magnetite, with initial DTR testing producing a low impurity high grade magnetite concentrate.
The Mt Alfred prospect approximately 45km north west of Mt Mason was added to the Company’s land holding at the CYIP which was acquired from the vend in of assets from the Pallinghurst and Red Rock Resources Proposal.
At Mt Ida environmental baseline studies were completed, and at Mt Alfred desktop Flora and Fauna studies were completed in order to facilitate drilling campaigns.
Jupiter’s primary area of exploration focus for the year was the iron ore and nickel projects, with minimal exploration conducted on the gold and base metals projects.