Magnetite Mines has secured all required permits and approvals, along with heritage clearances, for the initial phase of drilling at its fully owned Ironback Hill rare earth element (REE) project in South Australia.
This project is located near the Razorback Iron Ore Project.
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Drilling contractors have been engaged and operations are set to start within the coming week.
The planned drilling will involve up to 2,000m of aircore drilling to explore the extent and geological controls of previously identified clay-hosted REE mineralisation.
This mineralisation was initially discovered through a reassessment of archived iron ore drilling samples.
The fieldwork is expected to last around ten days, with sample assay results targeted within six to eight weeks, contingent on laboratory processing times.
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By GlobalDataThe Ironback Hill REE project is situated within exploration licence (EL) 6126 in the Braemar Iron Region approximately 250km north-east of Adelaide.
In August 2025, Magnetite Mines announced the discovery of REE mineralisation at Ironback Hill in historic drill samples.
Further testing led to the announcement of additional REE findings in November 2025.
Magnetite Mines managing director Tim Dobson said: “The Ironback Hill REE project is an emerging rare earth prospect discovered by Magnetite Mines’ geologists last year, with initial results indicating further prospectivity for clay-hosed rare earth mineralisation.
“The discovery was initially identified via the re-assay of archived iron ore drilling samples and the intent of this programme is to determine if the rare earths mineralisation extends beyond the historic drilling area as well as the geological controls that govern the local occurrence of REEs.
“As previously disclosed, drill testing of this prospect is fully aligned with the company’s strategy to create long-term shareholder value through a disciplined, multi-commodity exploration approach across its substantial South Australian tenement portfolio, while continuing to prioritise the development of our flagship Razorback Iron Ore Project.”
In February 2024, Magnetite Mines signed a memorandum of understanding with Port Pirie Regional Council, a local government area in South Australia, to develop Port Pirie into a future hub for green iron production.
