Mardie

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Mardie - E08/1849-I

On 19 October IOH announced the acquisition of the Mardie tenement (E08/1849-I) in the northwest Pilbara region of Western Australia from Azimuth Resources Limited (ASX: AZH). IOH paid $225,000 cash for full ownership of the tenement.

The Mardie tenement has a 40 km coastline and is within 20 km from the Balmoral deposits which are managed by Citic Pacific Mining and Australasian Resources Ltd.

The tenement does not currently contain any mineral resource but presents exploration upside for both hematite and magnetite ore and has a pre-feasibility study completed on a salt project.