The Razorback Iron Ore Project is a high tonnage, low-grade magnetite deposit that defines a new iron ore district in South Australia. Known since the 1960s, the deposit has come into its own as the iron hungry world demands not only larger tonnages, but higher grade and cleaner magnetite concentrate ores that counterbalance the increasingly dirty haematite ores that are coming into production.Razorback is hosted by the Neoproterozoic Braemar Iron Formation, a tillitic unit that is part of the Adelaidean Geosyncline sedimentary sequence. At Razorback, this formation forms the southern limb of the Pualco Syncline, dipping at 42 to the north and outcropping along a prominent ridge. The formation consists of a series of alternating bedded tillitic and interbedded magnetite units that represent cycles of glacial advances and retreats. Seven cycles, resulting in seven stratigraphic members, are recognised. Members B, D, and G are the thickest, at 30 - 70 m each, and are the target of current investigations. While the bedded magnetite has the highest iron content, typically 35 per cent Fe, the tillitic unit, at typically 26 per cent Fe, has similar iron content in the ground mass but is diluted by the inclusion of iron-poor granite and metasedimentary dropstones. The mineralisation forms a simple dipping tabular body with only minor faulting, folding and intrusives. Grades, thickness, dip, and outcropping geometry remain very consistent over kilometres of strike, presenting an excellent mining proposition.Razorback differentiates itself from other Australian magnetite projects in a number of important ways. It is not a banded iron formation (BIF); it will have low crushing and grinding costs; and it is located in an infrastructure-rich area close to open-access, high capacity rail, to a selection of ports and to gas, electricity, labour and engineering services._x000D_
Royal Resources has announced an Inferred resource of 277 Mt @ 25.9 per cent Fe._x000D_
The company is targeting a resource of 500 - 1000 Mt to support a 10 Mt per year concentrate production. Davis Tube Recovery work shows that the ore is capable of producing a concentrate of over 68 per cent Fe with very low deleterious elements. Metallurgical testing confi rms the ore is soft, and with near-zero initial stripping ratio the project will have a low opex. With access to existing critical infrastructure, capex will also be low, ensuring Razorback will be a highly competitive iron producer in this emergent mining district.