Commonwealth Hill Magnetite Project
The Commonwealth Hill tenements cover 205 km2 in the Northern Gawler Craton of South Australia. The Project is uniquely located within 25km of the Adelaide to Darwin Railway line, 30km to the Challenger Gold Mine and 530km to the Whyalla Iron Ore Port.
The Commonwealth Hill Project consist of several coarse-grained BIF magnetite deposits located over 6km of strike within the Mt Christie Domain of the North Gawler Craton, where the older basement rocks are interpreted as Archaean gneisses of the Mulgathing Complex.
The Sequoia deposit is the most advanced prospect, with drilling between 2010 – 2014 identifying a coarse-grained magnetite BIF deposit hosting an indicated and inferred resource of 72Mt at 25.9% Fe. The Sequoia deposit remains open at depth and along strike, with a global resource target of >150Mt @ 25 - 30% Fe.
Davis Tube Recovery (DTR) results indicate Sequoia ore liberates successfully at P80 @ 125 µm resulting in high quality DRI grade concentrate (>67% Fe) with low levels of impurity elements (<4.5% Si02 and Al203). Mass recovery for magnetite is very high at 30% and are extremely favourable compared to other magnetite projects.
Previous grind establishment results at Sequioa also show potential to produce a saleable product (>50% Fe) using dry magnetic separation techniques with high mass and iron recoveries achieved from a coarse DTR grind (180 - 500µm).
Utilising Dry Magnetite Separation could allow for lower start-up costs, near term production and early cash flow from the Sequoia deposit, avoiding the technical and capital constraints associated with wet beneficiation.
The Ibis deposit, located 30km west of Sequoia, is the largest of the Commonwealth Hill deposits with a large magnetic anomaly strike length of +5.3km. Comparison to other known magnetite resources in the Gawler Craton, including the Hawks Nest and Snaefell Projects, indicate the Commonwealth Hill Project could have a Global Resource of +500Mt @ 25 – 35% Fe.
Coarse grained BIF is evident in loose flat material at the Ibis prospect and basement drilling undertaken in 2013 penetrated shallow basement of quartz-biotite-magnetite gneiss, with Fe values in the 15-35%Fe* range and mag sus reading above 1000 from 30m.
Davis Tube Recovery @ 125 µm undertaken on historic RC chips for holes RED42 (Northern Ibis) and RED47* (Southern Ibis) showed similar coarse-grained magnetite with DTR mass recoveries ranging from 12.6 to 27.3 %. Magnetite occurs from 28 – 30m from surface with both holes ending in mineralisation. Concentrate grades range from 55 – 65 % Fe with further test work required to determine optimal grind size. These DTR results are encouraging and demonstrate the potential of the Ibis magnetite project.
Investment opportunity
Agile is looking for a strategic investor to unlock the value of the Commonwealth Hill magnetite project and is currently offering both equity and offtake opportunities for compatible partners.
Investor information
Financial information
Investment sought: A$1M - A$3.5M
Documents
Project status update
-Project dependencies
The project is located in the Woomera Prohibited Area
Technology utilised
Agile is looking to introduce next generation dry magnetic separation technology to overcome technical challenges of a water dependent process flow sheet. Major magnet manufactures, including LONGI, are currently marketing technologies in Australia and offering pilot scale test programs to identify the suitability of dry separation. Next generation dry magnetic separation technology is capable of delivering DTR results with limited water requirements, fundamentally changing the technical and financial constraints for magnetite projects.
Project highlights
- Agile Mining Group is South Australia's most experienced open cut mining company and is the principal contractor on two iron ore mines, employing over 200 people and managing the mining and logistics of 3 million tonnes of high-grade hematite annually.
- Commonwealth Hill consists of several coarse-grained magnetite deposits with a >500Mt Exploration Target capable of producing a DRI Grade concentrate from an unparalleled grind size of P80 @ 125 µm
- Commonwealth Hill is strategically located to open access rail and port infrastructure with over 5mtpa of export capacity
Key organisations
- Agile Mining Group
Project timelines
Expected start date
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Expected end date
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Funding round finish date
March 31, 2025