OMODEI MINING ENTERPRISES
BN 18862986
Resources Exploration, Mining, Infrastructure & Development
QUEENSLAND IRON DEVELOPMENT CORPORATION PTY LTD
Steelmaking Raw Materials, Rare Earths & Processing
Steelmaking Raw Materials, Exploration, Mining,
Processing and Development Enterprises as an operator for
MDL 298, EPM 15896 & EPM 18361
The Whispering Ridge Magnetite Project MDL 298 technical/commercial data is well known and not complex.
From this major corporate exploration play we know that the first two to three years’ saleable production of high grade magnetite would be immediately available being enough product for 20 years use for washing clean coal in Queensland. From this base the concept target models are achievable to also start DSO product for export.
Realizing there are significant logistical difficulties to overcome, we used in our financial models a target magnetite resource >40,000,000t or 1Mtpa for export.
A target of >200,000,000t would be required to commence shipment of >10Mtpa for export. If end user demand requires us to accelerate the programme and development; then early drilling monies to identify that must be preferential. This will enable the project to go from concept, as identified above, to JORC; in order to verify exact reserves.
We have clearly identified the targets but the only way to find more ore, to JORC standard, is to further drill.
The initial ore body is Whispering Ridge itself; the longer term production will be more clearly defined to JORC following our present programme. Further stepping back to drill deeper targets identified will be evaluated from the initial results.
Other Potential
Mineral Reserves
Product Transport
and Export
Pioneering Works
SAM Survey Results TM comparing work at between MDL 298 and EPM 15896 overlaid on Google Earth Image Boundary-
History and Summary of Pertinent Minerals Exploration Work Surrounding MDL 298 which was Accomplished by Previous Holders
From the Shell/BHPB aerial surveys, the Whispering Ridge high grade magnetite outcrops are very subtle; whereas, they can’t be seen on the magnetic contour maps, the ore exists as a large body of magnetite with polarisation points vertical. The December 2009 RC drilling shows it continues to depth in a southwest direction; further step back drilling will define the true depth and size. The Gap Geophysics Australia Pty Ltd sub-
Shell Australia was exploring for tin and tungsten, not iron. However, from the individual RAB hole drilling data showing “Geological description/information and samples collected by Pilbara Labs”; the magnetic susceptibility was described at each hole by anomaly as reported by them in 1982. Susceptibility readings to a depth of 7 metres reached as high as 600 in Anomaly 6 and to a depth of 24 meters as high as 450 in Anomaly 7. Further detailed evaluation of these works is being carried out in order to redrill these anomalies to depth for iron, together with the Shell drilling north of Sunday creek and to the west of Boeing and Conical Hills.
Extract of Shell Targets 6 and 7 surrounding the Whispering Ridge area from the Shell Company of Australia Limited, Metals Division from QDEX records 11601 Sheet No. 2 detailing geology of Sunday Creek including location of RAB drilling holes completed in 1982.
Potential Reserves Magnetite