Iron ore explorers have formed an alliance to develop infrastructure in South Australia and New South Wales.
Titled the Braemer Iron Allliance, group spokesperson Andrew Woskett stated that it is amongst listed and private exploration companies with tenements in the Braemar Iron formation.
The Formation stretches for approximately 250km from Peterborough in SA to Broken Hill in NSW.
The Alliance comprises of ASX-listed companies Carpentaria Exploration; Havilah Resources; Minotaur Exploration; Royal Resources and U3O8 and private companies, Sinosteel; PepinNini; Curnamona Management; Bonython Metals Group and the Wentworth Metal Group.
Woskett said that the Alliance see the potential for 20 to 40 billion tonnes of magnetite deposists.
“The presence of iron mineralisation has been recognised since the 1960s but only in the past few years, with the impetus of higher iron ore prices, have explorers actively sought to define the province’s resources to the Australian JORC standard,” he said.
“Alliance members are confident in the iron potential for the area, based on extensive drill programs and recent definition of JORC resources,” Woskett added.
One of the major infrastructure focuses for the group is a deep water port facility on South Australia’s Spencer Gulf, as well as power, water and transport infrastructure throughout the entire Braemar iron province.