HAWKS NEST MAGNETITE

The Hawks Nest exploration license contains a number of significant magnetite deposits originally identified in 1977 by Newmont-Dampier. Most of the historical exploration work was conducted as part of the South Australian Steel and Energy Project in the late 1990s and more recently by Arrium Limited up until 2016.

Peak Iron is continuing extensive field exploration and metallurgical test work at Hawks Nest Magnetite in preparation for developing this world class magnetite asset.

The magnetite mineralisation identified includes large tonnage/medium grade (including Kestrel, Goshawk, Harrier) deposits as well as lower tonnage/high grade deposits (including Kite, Raptor, Eagle). Hawks Nest magnetite is a superior quality to other magnetite deposits in South Australia and it is well serviced by public infrastructure, including major highways and rail lines. It contains the highest-grade magnetite in the state.

Peak Iron is currently progressing approvals with the Department of Defence, Department for Energy and Mining, Native Title Groups and Landholders.

The Hawks Nest Magnetite Project is ideally positioned to assist driving the decarbonisation of the steel industry with the development of green Iron and steel.