The Bathurst Island Iron Project is located in the far north
of the Buccaneer Archipelago 260km due north east of Broome,
in the north west of the Kimberley region of Western Australia.
The Company agreed to acquire the Bathurst Island Iron Project
(E04/1589) from Starwolf Resources Pty Ltd in 2010.
The exploration permit was granted on 10th August 2007 and
expires on 9th August 2012, the tenement area of the Exploration
Licence E04/1589 covers approximately 60km2 for 20 graticular
Regional mapping of both Bathurst Island and neighbouring
islands – Irvine Island, Cockatoo Island and Koolan
Island, shows that the local geology is similar with the
presence of the Wonganin Sandstone with varying amounts
of iron in places.
Koolan Island is currently mined by Mt Gibson Limited at
about 3Mtpa operation with 33Mt of high grade hematite iron
ore booked as reserves. Mt Gibson have mined around 11Mt
of iron ore since 2007 and >68Mt of iron ore was mined
from 1959 to 1993 by BHP.
Cockatoo Island iron ore mineralisation is currently mined
by Cliff Asia Pacific and HWE Mining at a much smaller scale
Stage 3 with the operational capacity of 1.3Mtpa. This deposit
will be completely mined out within 2 years.
Irvine Island is currently under exploration and development
by ASX listed Company Pluton Resources, whom have identified
547Mt of haematite bearing sandstone iron ore in the Hardstaff
Peninsula. The lower grade Wonganin iron bearing sandstones
can be concentrated to produce around 155Mt of 66% Fe high
grade iron ore product.
As in the case for Pluton Resources’ Irvine Island,
Bathurst Island is under a native title claim from the Mayala
People and access or exploration activities on the island
will need prior consent and approval from the Mayala People.