INFRASTRUCTURE ACCESS-PORT & RAILRoyal has MOU with Flinders Port Pty Ltd to investigate port options; And HOA with Genesee and Wyoming Australia Pty Ltd to investigate rail options.
NATIVE TITLE AGREEMENTNative Title Mining Agreement was signed with the Ngadjuri Nation Native Title Claim Group covering the Razorback Iron Project Area..
WHY MAGNETITE AND WHY NOWMagnetite currently attracts a $5/%Fe/t premium over the reference fines price.
LOW GRINDING AND POWER COSTSRazorback will produce a clean, high grade concentrate.
LOW STRIPPING RATIOpotential for stripping ratio of close on zero initially.
RAZORBACK JORC RESOURCEExploration activities within the Red Dragon Project area has defined a JORC Inferred Resource of 568.6 Million tonnes at 25.6%Fe.
HUGE TONNAGE POTENTIALAn exploration target potential of 4 – 8 Billion Tonnes at 18 – 45% Fe.

Projects

WATER TANK PROJECT  (Norseman - Western Australia)- GOLD

The Water Tank Gold project is located about 5 kilometres to the east of Norseman in the Eastern Goldfields. Although the project is one of Royal’s more prospective gold projects is occurs in isolation and away from our other major project areas. 

An aircore drilling campaign was conducted in the second quarter of 2010 on the property to drill test three prospects as a followup on past drill results. The programme targeted untested structural corridors identified from the interpretation of re-processed aeromagnetic data and previous drilling results. These include narrow but high grade intercepts of 1m @ 12.2g/t gold from 24m (WTAC085) and 1m at 9.2g/t from 70m (WTR006) at the Empire Rose Prospect and lower grade but thicker intercepts of 8m at 1.77g/t gold from 24 metres (WTRC025) at the Jezebel Prospect. A total of 46 holes for 1,413m was drilled. Assays are awaited.

 

Sales of low grade magnetite resources expressed as $ per tonne of 100% Fe in 2011 dollar terms