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EMETALS LIMITED Investor Presentation 2012
64850_rns_2012-02-01_d1684605-fed0-48eb-8db8-23da8afecf43.pdf
Investor Presentation
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WEST PEAK IRON LTD
Investor Presentation, February 2012
Disclaimer
NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES
This presentation (including information contained in this disclaimer) is neither a prospectus nor an offer to subscribe for shares and has not been lodged with the Australian Securities and Investment Commission. Except for any liability which cannot be excluded by law, West Peak Iron Limited and its affiliates expressly disclaim and accept no responsibility or liability (including liability for negligence) for the contents of this presentation.
GENERAL
All currency amounts are in AUD$ unless stated otherwise.
This presentation has been prepared by West Peak Iron Limited ("West Peak" or the "Company") and does not carry any right of publication or disclosure to any other party. Neither this presentation nor its content may be used for any other purpose without prior written consent of West Peak.
This document should be read in conjunction with any public announcements and reports (including financial reports and disclosure documents) released by West Peak.
The information contained in this document is of a general nature only and does not contain all information about the Company's assets and liabilities, financial position and performance, profits and losses, prospects and the rights and liabilities attaching to the Company's securities.
The securities issued by the Company are considered speculative and there is no guarantee that they will make a return on the capital invested, that dividends will be paid on the Shares, or that there will be an increase in the value of the Shares in the future.
Further details on risk factors associated with the Company's operations and securities are contained in the Company's prospectus dated August 2010 and subsequent announcements to the Australian Securities Exchange.
Neither this presentation or the Company purports to give financial or investment advice. No account has been taken of the objectives, financial situation or needs of any recipient of this document. Recipients of this document should carefully consider whether the securities issued by the Company are an appropriate investment for them in light of their personal circumstances, including their financial and taxation position.
Neither the Company, nor its related bodies corporate, officers, their advisers, agents and employees accept any responsibility or liability to you or to any other person or entity arising out of this presentation including pursuant to the general law (whether for negligence, under statute or otherwise), or under the Australian Securities and Investments Commission Act 2001, Corporations Act 2001, Competition and Consumer Act 2010 or any corresponding provision of any Australian state or territory legislation (or the law of any similar legislation in any other jurisdiction), or similar provision under any applicable law. Any such responsibility or liability is, to the maximum extent permitted by law, expressly disclaimed and excluded.
Nothing in this material should be construed as either an offer to sell or a solicitation of an offer to buy or sell securities. It does not include all available information and should not be used in isolation as a basis to invest in the Company.
Whilst the information presented and views expressed in this presentation have been prepared in good faith, West Peak accepts no responsibility or liability to any party in connection with such information or views.
Projects are located in Liberia and as such the operations of West Peak may be exposed to related levels of political, economic and other risks and uncertainties. Changes, if any, in mining or investment policies or shifts in political attitude in Liberia may adversely affect the operations or activities of West Peak.
West Peak's activities in Liberia are dependent on the maintenance of appropriate licenses, permits and regulatory consents which may be withheld, withdrawn or made subject to limitations.
FUTURE MATTERS
This presentation contains reference to certain intentions, expectations, future plans, strategy and prospects of the Company.
Those intentions, expectations, future plans, strategy and prospects may or may not be achieved. They are based on certain assumptions, which may not be met or on which views may differ and may be affected by known and unknown risks. Given the risks and uncertainties that may cause the Company's actual future results, performance or achievements to be materially different from those expected, planned or intended, recipients should not place undue reliance on these intentions, expectations, future plans, strategy and prospects. The Company does not warrant or represent that the actual results, performance or achievements will be as expected, planned or intended.
COMPETENT PERSONS' STATEMENT
Scientific or technical information in this presentation has been prepared under the supervision of Mr Shane Tomlinson, an employee of the Company and a Member of the Australian Institute of Geoscientists (AIG). Mr Tomlinson has sufficient experience which is relevant to the style of mineralisation under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" (the JORC Code). Mr Tomlinson consents to the inclusion in this report of the Information, in the form and context in which it appears.
FORWARD LOOKING AND EXPLORATION TARGET STATEMENTS
Some statements in this presentation regarding estimates or future events and including information as to the future financial or operating performance of West Peak and its projects are forward-looking statements. Such forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable for West Peak, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies.
These forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from estimated or anticipated events or results reflected in such forward-looking statements. Forward looking statements include, but are not limited to, statements concerning the Company's exploration program, outlook, target sizes and mineralised material estimates.
Words such as "believe", "anticipate", "indicate", "contemplate", "expect", "target", "scheduled", "intend", "pending", "planned", "potential", "prospective", "proposed", "seek" and similar expressions identify forward-looking statements.
West Peak disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.
Cover page photo: Nimba to Buchanan Railway line, Liberia, 2011.
Investment Highlights – aggressive exploration at Iron Ore projects with infrastructure solutions, Liberia, West Africa.
✓ Four 100% owned granted Liberian licences for a total of 977 km²
✓ Field activities identifies iron enrichment with rock chip grades up to 64.6% Fe, demonstrating the potential for direct shipping ore (“DSO”) and also the potential for course grained soft magnetite bearing “itabirite” that may be amendable to beneficiation
✓ Magnetic anomalies coincident with confirmed iron formations and high grade hematite/ goethite "DSO" type mineralisation, collectively 58.5 km strike length of anomalous magnetic response
✓ Projects located in close proximity to historic iron ore mines and known iron ore resources
✓ All projects located within 100km of ports and 50km of railway (existing or historical pending refurbishment) and with suitable sealed and/or unsealed road access
> Geophysical consultants are currently modelling the completed aeromagnetic survey data to aid in the identification of an exploration target size, with results expected in late February
> Proposed maiden drill program being developed to target DSO/high grade material and course grained soft magnetite bearing “itabirite” at Bomi South Project
✓ Significant land holding in the emerging Mid West and Yilgarn Iron provinces of WA
Investment Highlights – West Peak licenses, major iron occurrences and infrastructure
Liberia, West Peak licenses, major iron occurrences (not owned by West Peak) and infrastructure
Board and Management
David Parker, Executive Chairman
- Over 10 years experience in investment and corporate advise, including advising companies on ASX listings, capital raisings and management of resource exploration companies.
- Has served has Director or Corporate Advisor of listed resource companies with mineral interests in Australia, North America, South America, Central Asia, Mongolia and China.
Graham Marshall, Non-Executive Director
- Over 20 years of project development in the resources industry (Certified Practicing Project Director and a member of the Australian Institute of Project Management), with key experience in the development of large mines and mineral processing facilities.
John Royle, Non-Executive Director
- Mr Royle has over 15 years international business experience including approximately 5 years management consultancy experience at Accenture, UK. Mr Royle has a strong focus on economic development at local regional levels which will assist in the development and incorporation of local businesses in mineral activities.
Shane Tomlinson, Exploration Manager
- Mr Tomlinson over 15 years of mine and exploration geology experience across a broad range of commodities and geographical locations, including Western Australia (a senior exploration geologist at a leading Western Australian DSO Iron Ore explorer / producer for two and a half years) and West Africa (Senior Geologist in Guinea for three and a half years).
- Mr Tomlinson has extensive experience in identification, development and exploitation of mineral resources and is deemed a competent person under JORC.
Corporate Snapshot
Capital Structure
| Fully Paid Ordinary Shares | Unlisted Options
(13,750,000: Ex @ 20c expiry 30/06/13;
(500,000: Ex @ 30c expiry 30/06/13) | Market Cap
(circa @24c, undiluted) | Cash
(circa end Dec'11) | Enterprise Value (circa) |
| --- | --- | --- | --- | --- |
| 27,500,001 | 14,250,000 | $6.6m | $1.1m | $5.4m |
Major shareholders
| Directors | 14.1% |
|---|---|
| Top 20% | 53.2% |
Listed on the ASX
ASX Code: WPI
ASX
AUSTRALIAN SECURITIES EXCHANGE
West Africa – the emerging Iron Ore region
- High grade large scale resources awaiting development
- World class greenfields exploration areas still underexplored
- Coarse grained ore bodies amenable to beneficiation
- Similar geology to South America iron provinces
- Massive investment into the region, creating a push to production
Liberia & West Peak - Key factors
✓ Supportive and stable government policies – Liberian government has assisted AcerMittal to reach production at the Nimba Range project which reflects the governments support of the iron ore industry and the ability of the iron ore industry to assist with the rebirth of the country
✓ Infrastructure & proximity to existing ports, road and rail – West Peak’s projects are within 100 km of existing ports and within close proximity to railway lines (existing or historical rail pending refurbishment), sealed and unsealed roads
✓ Potential for high grade product – Several known DSO resources in Liberia, in conjunction with West Peak’s exploration activities supports the potential for high grade material, being hematite-rich capping and coarse grained mag-hematite rich iron formation at West Peak projects
Liberia – the re-emerging Iron Ore producer
- Liberia was a top 5 global exporter of iron ore in the 1960's and 1970's
- Mining investment currently driving the economic rebirth of the country
- Liberia has seven years of political stability which has let to significant foreign investment with major mining houses like BHP Billiton and AccelorMital leading the way
- Current capacity available to key infrastructure, i.e. Rail and port facilities
- One operational iron ore port at Buchanan, Grand Bassa; Monrovia port is a historical iron ore port and an additional iron ore port is proposed for Greenville
- Significant Liberian corporate activity underway, i.e. Sesa Goa paid $90m for 51% of the Western Cluster
- Circa 13 other Australian companies currently exploring in Liberia
Milestones achieved to date
- Granted 100% owned greenfields iron ore licenses in emerging iron ore region of West Africa
- Field activities identifies iron enrichment with rock chip grades up to 64.6% Fe, demonstrating the potential for direct shipping ore (“DSO”)
- Course grained soft magnetite bearing “itabirite” identified that may be amendable to beneficiation
- Opened in country office in Monrovia, Liberia
- Granted additional tenure at high priority Bomi South Project, while reduction to lower priority licenses following exploration activities
- Detailed aeromagnetic survey flown over all four licenses:
- magnetic anomalies coincident with confirmed iron formations and high grade hematite/goethite "DSO" type mineralisation
- collectively 58.5 km strike length of anomalous magnetic response
Proposed key tasks for 2012
- Geophysical consultants are currently modelling the completed aeromagnetic survey data to aid in the identification of an exploration target size
- Trenching program initiated in conjunction with additional field work to aid with geological interpretation
- Develop drilling program at Liberian Projects to test geological model, with a proposed start at the Bomi South Project targeting DSO/high grade material and course grained soft magnetite bearing “itabirite”
- Initial project scoping studies and metallurgical test work
- Investigate road, rail and port access agreements
- Recruit additional personnel to management team to drive projects towards production
- Attract additional equity capital
Bomi South Project: Historical deposits and key infrastructure
Bomi South license, historical mines/deposits (not owned by West Peak) and key infrastructure
Bomi South Project: Exploration Activities
✓ Rocks Chips up to 64% Fe and field activities confirm potential for DSO/high grade material and course grained soft magnetite bearing “itabirite”
✓ Detailed aeromagnetic survey flown over entire license:
✓ magnetic anomalies coincident with confirmed iron formations and high grade hematite/goethite "DSO" type mineralisation
✓ collectively 37 km strike length of anomalous magnetic response
> Geophysical consultants are currently modelling the completed aeromagnetic survey data to aid in the identification of an exploration target size
> Trenching program initiated to aid with geological interpretation
> Develop drill program to test geological model, targeting DSO/high grade material and course grained soft magnetite bearing “itabirite”
> Priority iron targets located strategically close to road and rail infrastructure, i.e. 2.5 km from sealed road and 50 km from Monrovia
Bomi South Project: Detailed aeromagnetic image and rock chip results
Above: Vertical integral of analytical signal aeromagnetic image for Bomi South
Below: Selected Bomi South rock chips
| Sample ID | Fe % | SiO_{2} % | Al_{2}O_{3} % | P % | LOI % |
|---|---|---|---|---|---|
| WPL004 | 57.5 | 8.68 | 4.06 | 0.08 | 3.85 |
| WPL024 | 64.0 | 6.38 | 0.94 | 0.02 | 0.71 |
| WPL055 | 58.2 | 7.99 | 2.75 | 0.05 | 6.35 |
| WPL064 | 62.8 | 3.66 | 3.79 | 0.04 | 2.87 |
| WPL096 | 58.7 | 2.47 | 1.93 | 0.02 | 10.06 |
| WPL103 | 57.7 | 3.5 | 1.6 | 0.17 | 12.45 |
| WPL111 | 60.9 | 6.4 | 1.39 | 0.17 | 4.31 |
| WPL115 | 64.6 | 3.34 | 1.5 | 0.03 | 2.01 |
Supergene enriched hematite cap, WPL096
Bomi South Project: Key points
Location:
- 60km NNE from the capital Monrovia
- Accessed by sealed roads to east and west license boundaries
- Proximal to historic iron ore mines
- 564 km² of tenure
Geology:
- Intermittently outcropping iron formations over the tenement as ridges with strike lengths up to 4 km and elevations up to 100 m, but generally averaging 30-50 m
- Hematite and magnetite iron mineralisation identified, geological model typical of West African iron projects
Pending Refurbished Rail line:
- The historical Bong railway line runs through the eastern portion of the license, with a proposed refurbishment planned by China Union currently pending
- The historical Western Cluster railway line runs through the western portion of the license, pending a proposed refurbishment
Sealed road to Port:
- Two sealed road runs through the project to Monrovia
Monrovia Port:
- Monrovia Port currently operational (not currently exporting iron ore) with upgrades to meet the iron ore industry proposed, previously exported circa +6Mtpa Iron Ore
Grand Bassa and Rivercess Projects: Known resources and key infrastructure
Grand Bassa and Rivercess Projects: Known resources (not owned by West Peak) and key infrastructure
Grand Bassa Project: Exploration Activities
✓ Rocks Chips up to 53.8% Fe confirm and field activities confirm potential for high grade material and course grained soft magnetite bearing “itabirite”
✓ Detailed aeromagnetic survey flown over entire license:
✓ surface iron enrichment in the form of a hematite/goethite-rich cap is coincident with the magnetic anomalies which are interpreted to be the response of the magnetite-bearing itabirite units.
✓ 3 km strike length of anomalous magnetic response
> Geophysical consultants are currently modelling the completed aeromagnetic survey data to aid in the identification of an exploration target size
> Trenching program to be initiated in conjunction with additional field activities to assist with geological interpretation
> Proposed drill program to test geological model, targeting DSO/high grade material and course grained soft magnetite bearing “itabirite”
> Target areas are easily accessible and located strategically close to operating infrastructure, i.e. Within 3km operating rail and 30km of the Buchanan port currently exporting ArcelorMittal’s iron ore from Yekepa mine
Grand Bassa Project: Detailed aeromagnetic image and rock chip results
Fe grades overlying aeromagnetic image
| Sample ID | Fe % | SiO₂ % | Al₂O₃ % | P % | LOI % |
|---|---|---|---|---|---|
| WPL119 | 52.0 | 5.82 | 7.56 | 0.38 | 10.97 |
| WPL120 | 47.6 | 9.29 | 10.1 | 0.43 | 9.72 |
| WPL121 | 50.6 | 8.18 | 5.05 | 0.35 | 12.74 |
| WPL122 | 51.4 | 14.9 | 3.05 | 0.14 | 7.42 |
| WPL023 | 48.1 | 8.82 | 7.22 | 0.24 | 13.39 |
| WPL124 | 53.8 | 2.49 | 5.35 | 0.41 | 13.47 |
| WPL125 | 41.1 | 22.9 | 5.92 | 0.29 | 11.21 |
| WPL126 | 47.7 | 15.2 | 4.64 | 0.25 | 10.87 |
View of Grand Bassa topography
Grand Bassa Project: Key points
Location:
- 35km NE of Buchanan
- Accessed by roads from the eastern tenement boundary
- 79 km² of tenure
Geology:
- Intermittent outcropping iron formation coincident to 3km strike magnetic anomaly
- Assay grades range from 48.1% to 53.1% Fe
- Hematite / Goethite capping and canga style mineralisation identified over interpreted itabirite formation
Rail line:
- Iron prospect 3km from operating railway line
Unsealed service road to Port:
- Well maintained unsealed service road runs parallel to railway line, i.e. 3km from prospect
Buchanan Port:
- Located 35km from Buchanan Port which is currently exporting iron ore
Bobo Creek Project: Exploration Activities
☑ Rocks Chips up to 58.3% Fe and field activities confirm potential for high grade/DSO material and itabirite formation
☑ Detailed aeromagnetic survey flown over entire license:
- surface iron enrichment in the form of a hematite/goethite-rich cap overlying itabirite units which are coincident with the magnetic anomaly
- 15 km strike length of anomalous magnetic response
☑ Geophysical consultants are currently modelling the completed aeromagnetic survey data to aid in the identification of an exploration target size
☑ Magnetic images have show significant structures which can act as a focus for iron enrichment
> Apply to convert from Reconnaissance License to Exploration License
> Investigate logistics of drill testing
Bobo Creek Project: Detailed aeromagnetic image and rock chip results
Rock chip sample locations at the Bobo Creek project coloured by iron grades and overlain on aeromagnetic image.
Bobo Creek Project: Key points
Location:
- 75km E of Buchanan
- Accessed by maintained unsealed roads
- 200 km² of tenure
Geology:
- Significant magnetic response over a strike length of approximately 15 km
- Key prospect has 5km strike length of magnetic response
- Assay grades range from 22.9% to 58.3% Fe
- Hematite / Goethite rich capping and magnetite bearing iron
Rail line:
- Iron prospect circa 60km from operating railway line
Road to Port:
- Circa 60km of unsealed road then 50km unsealed road which runs parallel to railway line
Buchanan Port:
- The project is located circa 110 km via road and rail from Buchanan Port which is currently exporting iron ore
Mt Koklun Project: Exploration Activities
- Rocks Chips up to 55% Fe confirm and field activities confirm potential for high grade/DSO material and magnetite-bearing iron formation
- Detailed aeromagnetic survey flown over entire license:
- magnetic anomalies coincident with surface iron enrichment in the form a goethite/hematite cap interpreted to overlie a magnetite-bearing iron formation
- collectively 4.5 km strike length of anomalous magnetic response
- Geophysical consultants are currently modelling the completed aeromagnetic survey data to aid in the identification of an exploration target size
- Apply to convert from Reconnaissance License to Exploration License
- Investigate logistics of drill testing
Mt Koklun Project: Detailed aeromagnetic image and rock chip results
Rock chip sample locations at the Bobo Creek project coloured by iron grades and overlain on aeromagnetic image.
Mt Koklun Project: Key points
Location:
- Approximately 100km E of Buchanan port
- Accessed by unsealed roads
- 129 km² of tenure
Geology:
- Presence of iron formation in the form of itabirite
- Assay grades range from 7% to 55% Fe
- Hematite / Goethite capping overlying magnetite bearing iron formation
Rail line:
- Iron prospect 50km from operating railway line
Road to Port:
- 50km of unsealed road then 50km unsealed road which runs parallel to railway line
Buchanan Port:
- The project is located circa 100 km via road and rail from Buchanan Port which is currently exporting iron ore
Environmentally responsible and focused on community development
- Committed to environmentally sound strategies
- Community works program initiated at Bomi South and Grand Bassa
- Installation of water hand pumps
- Installation of toilet facilities
- School supplies
- Use of local workers where possible
- Maintaining a focus on local content and job creation
Exploration Manager Shane Tomlinson and Community Liaison Manager Joseph Manning in community talks at the Mt Koklun license
Executive Chairman David Parker playing soccer with students at the Geven Fahnsee town/school soccer pitch, at the Bomi South license
Comparison to other West Africa Iron Ore explorers
| Company | Market Cap Undiluted (A$M) | Enterprise Value* (A$M) | Asset(s) | Country | Resource | Exploration Target |
|---|---|---|---|---|---|---|
| West Peak Iron (ASX: WPI) | 6.6 (@ $0.24) | 5.5 | Bomi South, Grand Bassa | Liberia | n/a | n/a |
| African Iron (ASX: AKI) | 283 | 262 | Mayoko (92%) | Republic of Congo | 44Mt @ 55% Fe | |
| DSO and 77Mt @ 41% Fe bDSO | Exploration Target: 1.6-2.6Bt @ 30-65% Fe (Hematite and Magnetite) | |||||
| Afferro (TSV: AFF) | 135 (CAD) | 114 (CAD) | Putu Range (38.5%) | |||
| Nkout (100%) | Liberia | |||||
| Cameroon | Putu: 3.24Bt @ 34% Fe (Magnetite) | |||||
| Nkout: 2Bt @ 32.2% Fe (itabirite) | n/a | |||||
| Equatorial (ASX: EQX) | 267 | 226 | Badondo | |||
| Mayoko-Moussondji | Republic of Congo | n/a | Badondo: 200-300Mt @ 40-65% Fe (bDSO) & 1.1-1.9 Bt @ 30-45% Fe (Itabirite); Mayoko-Moussondji: 500-900Mt @ 40-65% Fe (bDSO) & 1.8-3.0Bt 30-45% Fe (Itabirite) | |||
| Waratah (ASX: WGO) | 42 | 40 | Youkou (90%) | Republic of Congo | n/a | 1.0-2.0Bt @ 60-62% Fe (DSO) |
| Cape Lambert (ASX:CFE) | 389 | 351 | Marampa | Sierra Leone | 680Mt @ 28.2% Fe | n/a |
| Western Cluster | 176 (*based on Sesa Goa paying $90mUS for 51%) | n/a | Bomi Hills | |||
| Bea Mountain | ||||||
| Manno River | Liberia | Bomi Hills – 50mt @ 68% Fe | ||||
| Bea Mountain – 923Mt @ 27% Fe | ||||||
| Manno River – 80Mt @ 51.4% Fe | n/a |
Sources: Company web sites, Company announcements, IRESS, as at Jan 2012.
*Enterprise Value is Market Capitalisation less know cash position
Liberian Iron Ore – key factors to success
| Key factors | Summary |
|---|---|
| Located in an iron ore region | Liberia was previously a top 5 global iron ore producing country, within the emerging iron ore region of West Africa. |
| Potential for deposit | Magnetic anomalies coincident with confirmed iron formations and high grade hematite/ goethite "DSO" type mineralisation, collectively 58.5 km strike length of anomalous magnetic response. |
| Potential for high grade | Field activities identifies iron enrichment with rock chip grades up to 64.6% Fe, demonstrating the potential for direct shipping ore (“DSO”) and course grained soft magnetite bearing “itabirite” that may be amendable to beneficiation. |
| Close to port | All Licenses within 100km of port as the crow flies Bomi South - Within 60km NNE from the port at Monrovia; Grand Bassa - Located 35km NE from the Buchanan Port which is currently exporting iron ore. |
| Close to rail/roads | Bomi South - two historical railway lines through license, both with pending refurbishment to meet iron ore industry, two sealed roads run through license; Grand Bassa - within 3km of an operating railway line and well maintained unsealed road. |
| Access to infrastructure | Liberian government has indicated an open position to allow third party access to rail and port infrastructure, opportunity to capitalise on first mover advantage. |
Western Australian Projects
- Significant land holding in the emerging Mid West and Yilgarn Iron Provinces
- Identified DSO and Beneficiated Feed Ore (BFO) potential at Pinyalling Project
- Identified BFO iron potential at Dandaraga Project
- Gold and Base Metal Project at Santy Well
Regional location of the WA tenements, infrastructure and known resources (not owned by West Peak)
Western Australian Projects
Pinyalling Project
- Rock chip and field mapping have confirmed DSO iron mineralisation prospectivity at Warriedar project over a strike of 1.8km.
- Returned rock chip assay ranging from 40.91% to 61.17% Fe, with an average of 55.14% Fe, including:
- 61.17% Fe
- 60.43% Fe
- 59.38% Fe
- Magnetite prospect at Thundalarra with multiple outcropping BIF's grading 30% to 35% Fe over a strike length of 3 km, which is coincident to a 7.5 km magnetic anomaly.
Dandaraga Project
- Dandaraga project has identified magnetite BIF outcropping for 2 km with widths up to 160m.
- Outcropping BIF is coincident with a 7 km long aeromagnetic anomaly. This anomaly forms part of a broader, 27 km long magnetic feature extending the length of the tenement.
- Initial rock chip sampling has returned assay results ranging from 32.56% to 58.34% Fe, which includes traverse samples of:
- 163 metres at 38.87% Fe
- 136 metres at 37.11% Fe
- 119 metres at 35.84% Fe
- Currently working through approvals process for future work
Outcrop mapping and rock chip point samples; Warriedar project
Outcropping BIF and rock chip traverse sampling lines; Dandaraga Project
Summary
- Liberian licenses 100% owned and located in emerging iron ore region
- Field activities identifies iron enrichment with rock chip grades up to 64.6% Fe, demonstrating the potential for direct shipping ore (“DSO”) and also course grained soft magnetite bearing “itabirite” that may be amendable to beneficiation
- Magnetic anomalies coincident with confirmed iron formations and high grade hematite/ goethite "DSO" type mineralisation, collectively 58.5 km strike length of anomalous magnetic response
- Liberian licenses located proximal to existing or historical (pending refurbishments) infrastructure including rail, road and port to meet mining industry requirements
- Geophysical consultants are currently modelling the completed aeromagnetic survey data to aid in the identification of an exploration target size
- Strong and experienced corporate and geological team
- Listed on the Australian Stock Exchange with access to equity funding
- Focus on investment in Liberia, West Africa, a previous top five global producer of iron ore
- Looking to add shareholder value through aggressive exploration of existing licenses and also through additional corporate activity in the Iron Ore sector
Contact Details
WEST PEAK IRON LTD
West Peak Iron Ltd
ASX Code: WPI
Australian Company Number: 142 411 390
Registered Address
Suite 9, 1200 Hay Street
WEST PERTH WA 6005
Postal Address
PO Box 281
WEST PERTH WA 6872
Phone: +61 8 6460 4960
Fax: +61 8 9324 3045
Website: www.westpeakiron.com.au
Email: [email protected]
Contact: David Parker for more information on [email protected]
WEST PEAK IRON LTD
West Peak Iron Ltd (Liberia)
100% owned subsidiary
Head Office Address
14th Street and Paynes Avenue,
Sinkor, Monrovia, Liberia
Phone: +231 (0) 6511549
Fax: +61 8 9324 3045
Website: www.westpeakiron.com.au
Email: [email protected]