Australia-based mineral exploration company Killi Resources Limited has announced that it has entered into a share purchase agreement to acquire an 80 percent interest in the Lodestone Iron Ore Project in Western Australia’s Mid-West region.
The Lodestone project is located in the Midwest Iron Ore District, approximately 200 km from the Port of Geraldton. According to the company, the project benefits from its proximity to existing infrastructure, including sealed roads, rail connections and grid power. The project currently hosts an inferred mineral resource of 110 million mt. Killi Resources stated that test work from the project has shown the potential to produce a high-grade iron ore concentrate grading around 69 percent Fe with low impurity levels.
Killi Resources said that Lodestone’s current resource covers only around 20 percent of the known magnetite mineralization, indicating potential for future resource growth. The company’s immediate focus will be on drilling across the broader mineralized system to increase the size and confidence level of the resource.
Killi chairman Nev Power described the acquisition as a company-making opportunity, pointing to the project’s resource base, growth potential, infrastructure advantages and exposure to demand for high-purity iron ore products. High-grade magnetite concentrate is increasingly viewed as a feedstock that could support lower-emission steelmaking, including production routes linked to direct reduction and electric arc furnaces.
Following the acquisition, Killi Resources plans to advance drilling and development studies at Lodestone. The company has also received approvals for its first major drilling program at the project, which is expected to target both resource expansion and upgrades to the existing resource classification.
The Lodestone acquisition marks Killi Resources’ entry into the Western Australian iron ore sector and positions the company in a region that already hosts established iron ore operations and export infrastructure.