Australia-based iron ore exploration company Iron Ore Holdings Limited (IOH) has announced that it has made a large magnetite discovery at its Mt. Dempster prospect in the Western Pilbara. The mineralization is also 70 km from the Pilbara coast and within 10 km of the Rio Tinto Mesa J mine and the planned API railway to Anketell Port.
IOH plans to start a stage 2 drilling campaign in early 2012 to define the mineral resource. It will also commence to determine detailed metallurgical properties of the magnetite mineralization and practical options for
mining and infrastructure connections.
IOH's total JORC mineral resource is currently 933.8 million metric tons. Additional exploration drilling is planned in 2012 at the Mt. Dempster prospect and other IOH locations at Maitland River, Western Satellites and Mardie.