Projects & Royalties

Mount Wall

Project: Mount Wall
Commodity: Iron Ore
Royalty: 1% of Gross Proceeds (excl. Au)
Subsidiary: Altus Royalties Holdings Ltd
Location: Australia
Deposit Style: Channel Iron Deposit (CID)
Key Attributes: E08/1712
Asset Stage: Held by Hancock Prospecting from its acquisition of Atlas Iron in 2018
Results: Resource of 38 Mt of ore grading 53.6% Fe
Next Phase of Work: Exploration
Deal Partner: Hancock Prospecting
Deal Terms: Acquired from Newcrest Mining

Project Overview

Mount Wall covers tenement E08/1712 and is located on the northern margin of the Ashburton Basin, approximately 120 km west of the town of Paraburdoo in the Pilbara region of Western Australia. It is operated by Hancock Prospecting after its acquisition of Atlas Iron in 2018. Mount Wall is underlain by Wyloo Group lithologies, primarily the Mount McGrath Formation and the Cheela Springs Basalt.

The tenement contains two small clusters of Channel Iron Channel Iron Deposits (CID) mesas situated in the east and west of the tenement. The largest of these is ~2 km in length and up to 400 m in width. The mesas extend for up to 40 m above the plain level and are incised by recent drainage. An intersection of 32 m of CID has been drilled. Mount Wall has an Inferred Mineral Resource of 38 Mt of ore grading 53.6% Fe (JORC 2009).

The CID is goethitic within an envelope of siliceous channel iron deposit (SCID). The resources could be blended with higher grade material from the rest of Hancock’s deposits and mining operations. The mesas are flat lying. There is no indication of channel edges or whether there is any extension of the CID beneath plain level.

There are also two gold occurrences (Anthiby Well 1 & 2) in the tenement area as well as the historic lead/silver Wyloo Mine.

Royalty Overview

Altus owns 80.1% of a 1% Gross Proceeds royalty on all minerals (excluding Au) over the 47 km² tenement area.

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