While much of the interest in domestic iron ore is focused on the Pilbara region of Western Australia and, increasingly, on South Australia, one junior is determined to make its mark exploring for the bulk commodity on the eastern seaboard. With assay results in February showing the potential for up to 60% iron and 1% vanadium at its magnetite-vanadium Hawkwood project near Bundaberg in Queensland, Eastern Iron Ltd may be on the right track comparing its geology to that of the layered igneous Bushveld in South Africa. The next stage in the process is the recently-begun aeromagnetic survey, which will provide more information about the magnetite-laden layers and set the targets for drilling in July.
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