HIGHLIGHTS Required Level of Environmental Assessment Announced The WA Government Environmental Protection Authority (EPA) has advised an Assessment on Proponent Information (API) level of environmental assessment for the Iron Valley (IV) Project. An API level of assessment normally concludes within a shorter timeline than a full Public Environmental Review (PER) which is normally required for large Pilbara projects. This lower level of assessment is an indication that there are likely to be no material environmental impediments to the development of IV. Commitment to Key PFS and DFS Activities IOH have placed commitments with contractors to undertake two key long lead item technical drilling programs for the Iron Valley Project o a geotechnical core drilling program to establish geotechnical design parameters for the detailed mine design activities and o a hydrogeological drilling program including to establish mine design dewatering parameters. This drilling data is expected to support the completion of a full project PFS by the end of June 2012, and a DFS by the end of 2012. 1. Iron Valley Overview Iron Valley is Iron Ore Holdings (IOHs) largest and most advanced project with a 259Mt JORC Resource, and which already has Native Title agreements and a Mining Lease secured for development. It is located within IOHs Central Pilbara Hub and is adjacent to tenements held by Rio Tinto, BHP Billiton and Fortescue Metals Group (FMG) (refer Figure 1). The Iron Valley deposit contains a JORC Mineral Resource of 259Mt, which is summarised in Table 1. The recently announced Mine Prefeasibility study proposed a four stage mine plan (refer Figure 2) with the total recoverable resource determined to be 160Mt, The recoverable resource will increase by at least 13Mt if an agreement was reached with FMG allowing recovery up to the FMG/IOH tenement boundary, and will increase further by 19Mt is likely if the additional JORC Resource announced in June 2011 (superseding the resource model used in the mine prefeasibility study) is taken into account, making the total potential recoverable resource 192Mt. 2.
Level of Project Environmental Assessment Announced (IOH is pleased to announce that on the 5 September 2011 the Western Australian State Governments Environmental Protection Authority (EPA) issued a notice advising a decision that the Iron Valley Project would be subject to an Assessment on Proponent Information (API) level of environmental assessment. The EPA will now issue scoping guidelines and a target timeline for this assessment process within 5 weeks. The timeline required for this API process is expected to be shorter than that required for a full Public Environmental Review (PER), which is the level of assessment that has been placed of most previous and current iron ore project in the Pilbara region of WA. The lower level of assessment is an indication that there are likely to be no material environmental matters in the EPA jurisdiction which will prohibit a timely development of the Iron Valley Project. This lower level of assessment is also testimony of the detailed and professional environmental work conducted by IOH and its consultants during its prefeasibility study on the Iron Valley deposit. Discussions have also commenced with the Commonwealth environmental authority named Department of Sustainability, Environment, Water, Population and Communities (DSEWPaC) to determine if the project will require a formal level of assessment under relevant Commonwealth environmental legislation. 3. Planned Environmental Programme at Iron Valley Project IOH has placed commitments with reputable contractors for the execution of two key long lead item drilling programs which include the following 61623 Geotechnical core drilling program to establish geotechnical design parameters for the detailed mine design 61623 Hydrogeological drilling program which is to establish numerous production water bores and water level monitoring bores for determining mine design dewatering parameters and any subsequent environmental impacts. This drilling information will be important input into the next phase of the IV PFS level studies and will support the finalisation of a definitive engineering study by the end of 2012.
In addition to these study programs, IOH is also progressing commercialisation options for the Iron Valley project. For more information regarding Iron Ore Holdings Ltd please contact Alwyn Vorster Managing Director T (08) 9483 2000 F (08) 9321 0322 E infoironoreholdings.com W www.ironoreholdings.com Ordinary Shares on Issue 166,087,005 About Iron Ore Holdings Iron Ore Holdings Ltd (IOH) is an ASX listed company which owns and manages a portfolio of highquality iron ore tenements and projects within its Central, Western and Coastal hubs in the Pilbara region of Western Australia. The companys projects are all strategically located within close proximity to existing and planned infrastructure. IOH has a stable share register and highly experienced Board and senior management team. Visit www.ironoreholdings.com.
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Positive Result for Iron Valley Enviromental Assessment