Australian mining company Killi Resources has secured an 80% interest in the Lodestone Iron Ore Project located in Western Australia's Mid West region, strengthening its position in the country's iron ore sector.
The project currently hosts an Inferred Mineral Resource of 110 million tonnes and has demonstrated the potential to produce a premium iron concentrate grading approximately 69% Fe, making it suitable for direct reduction (DR)-grade steelmaking.
Located around 200 km from the Port of Geraldton, the Lodestone project offers access to existing infrastructure and significant exploration upside. Killi has already received approvals for an initial drilling program aimed at expanding and upgrading the existing resource.
To support the acquisition and future development, the company recently secured A$15 million through a share placement, providing funding for exploration and project advancement.
The acquisition marks a major milestone in Killi Resources' strategy to build a large-scale iron ore business focused on supplying high-grade products for the growing low-carbon steel industry.
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