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For personal use only
ASX
A
Annnouncem
ment
January 2015
EYRE IRO
ON MAG
GNETITE
E JOINT V
VENTUR
RE
Geeneral Managger
17thh January 2015
Thhe Company Announcements Office
Auustralian Seccurities Exchaange
Eleectronic Lodggement Systtem
Deear Sir/Madaam
JO
OINT VEN
NTURE RECOMME
R
ENCES D
DRILLING
G AT FUSIION
Hiighlights
 Land access agreement siggned over major section of Bald Hill Depossit at Fusionn
 Resource definittion drilling has recom
mmenced at Bald Hill for
f Fusion PPrefeasibility Study
u
the South Ausstralian Miining Act for
 Negotiations annd determinations coontinuing under
a
at Bald
B Hill
remaiining land access
Suummary
Thhe Joint Ventture betweenn Centrex Meetals Limited (“Centrex”) and
a Wuhan Iron & Steel (Group) Co. (“WISCO”) has
reccommenced resource deefinition drillinng at its Fu sion Magnettite Project (“Fusion”)
(
onn the Eyre Peninsula
P
Soouth
Auustralia. The focus of driilling is at thhe Bald Hill Deposit (“Baald Hill”) whicch is to form
m part of thee overall Fussion
Prrefeasibility S
Study. The jooint venture has signed a land accesss agreemennt over a maj
ajor portion of
o the deposit to
coomplete 10 diamond drill holes.
h
Negotiaations and deeterminationss under the South
S
Australiian Mining Acct are continuuing
forr remaining pportions to complete a furthher 8 diamonnd drill holes.
Drrilling at Bald Hill is to be funded
f
out off the remaininng A$ 4.9 million held by the Joint Vennture as at 311st of Decembber.
Thhis funding is outside of Ceentrex’s own cash reservees.
For personal use only
ASX Announcement — January 2015
Figure: Diamond drill rig at Bald Hill deposit.
The Joint Venture commenced drilling of the 9km long magnetic trend at Bald Hill in late 2012, to expand the resource
base of Fusion beyond the existing Mineral Resources at the deposits of Koppio, Brennand, Kapperna and Iron Mount.
A total of 15 diamond drill holes have been completed by the Joint Venture over Bald Hill since, however land access
has held up completion of the planned program. The signing of a new access agreement to allow further drilling is a
significant step towards completing the planned program. A resolution to access for the remainder of the program is
expected over the coming months.
Fusion
The Fusion project comprises a 50km long magnetic banded iron formation on the Southern Eyre Peninsula in South
Australia. The project revolves around numerous satellite magnetite ore deposits feeding into a centralised processing
facility to produce a magnetite concentrate. The concentrate is in turn planned to be transported via a relatively short
40km slurry pipeline to the proposed Port Spencer export facility also being developed.
CENTREX METALS LIMITED
Unit
1102,
[Type
text]147 Pirie Street, Adelaide, South Australia, 5000 | P: +61 8 8100 2200 | centrexmetals.com.au | ABN 97 096 298 752
ASX Announcement — January 2015
For personal use only
To date the project has established 680Mt of Mineral Resources (10.8Mt Measured, 300.9Mt Indicated, 368.4Mt
Inferred) at the deposits of Koppio, Brennand, Kapperna and Iron Mount, which collectively represent just around 14km
of the overall magnetic trend.
For full details of the Mineral Resources see announcement 18th February 2013:
http://www.asx.com.au/asxpdf/20130218/pdf/42d2m8n09wywwg.pdf
This information was prepared and first disclosed under the JORC Code 2004. It has not been updated since to comply
with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported.
Figure: High-resolution magnetic image of the Fusion project area with magnetic iron formations highlighted in
red.
For further information please contact:
Ben Hammond
Chief Executive Officer
Centrex Metals Limited
Ph (08) 8100 2200
Alastair Watts
General Manager Exploration
Centrex Metals Limited
Ph (08) 8100 2200
CENTREX METALS LIMITED
Unit
1102,
[Type
text]147 Pirie Street, Adelaide, South Australia, 5000 | P: +61 8 8100 2200 | centrexmetals.com.au | ABN 97 096 298 752
ASX Announcement — January 2015
For personal use only
Competent Persons Statement
The information in this report relating to Exploration Results is based on information compiled by Mr Ben Hammond
who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Hammond is the CEO of Centrex Metals
Limited. Mr Hammond has sufficient experience, which is relevant to the style of mineralization and type of deposit
under consideration and to the activity, which he is undertaking to qualify as a Competent Person as defined in the
2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”.
Mr Hammond consents to the inclusion in the report of the matters based on his information in the form and context
in which it appears.
The information in this report relating to Fusion Mineral Resources is based on and accurately reflects information
compiled by Mr Alan Miller of Golder Associates who is a consultant and adviser to Eyre Iron Pty Ltd and who is a
Member and Chartered Professional of the Australasian Institute of Mining and Metallurgy. Mr Miller has sufficient
experience, which is relevant to the style of mineralization and type of deposit 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”. Mr Miller
consented to the inclusion of this information in the 18th February 2013 announcement in the form and context in
which it appeared in that document.
CENTREX METALS LIMITED
Unit
1102,
[Type
text]147 Pirie Street, Adelaide, South Australia, 5000 | P: +61 8 8100 2200 | centrexmetals.com.au | ABN 97 096 298 752