KGL ERW Property Overview
Approximately half of the KGL-ERW licences are subject to a Joint Venture with Rio Tinto for iron ore.
Mineralization:
- 100km long NW-SE trending itabirite belt
- High grade haematite enrichment (>60% Fe) of itabirite sequences
- Low phosphorus
- Discontinuous strike length ~6km
Joint Venture Highlights:
- Phase I (2009 - 2013) : To earn 51%, Rio must spend $23M
- Phase II (2014 - 2018) : To earn up to 75%, Rio must spend an additional $60M
- Phase III (2019 forward) : Kilo has the option to convert its equity for cash plus an NSR.
Rio Tinto will manage and conduct all iron-ore exploration activities. To date, Rio Tinto has imported the required vehicles and equipment and has constructed an exploration camp. Recruitment and training of local staff has been undertaken and local stakeholder engagement is underway.
