The company’s initial project is in Thailand's iron ore belt adjacent to other producing mines. Newport has completed a significant part of its exploration program, through which it has identified high-grade magnetite iron ore targets. The company plans to fast-track production and commence exporting magnetite to its off-take partners in the near future.
The low capital investment, low cost model makes this a profitable project that will deliver strong shareholder returns for the life of mine. Although the primary focused on taking its first project into production Newport is sourcing new exploration opportunities in the South East Asian region for future development. The project is located close to infrastructure allowing for cost efficient transport of ore from site to point of sale.
Project Geology
The images above are from geophysical exploration work completed on the projects main iron ore targets. The 3D image is an inversion created from the raw geophysical data collected by the company through its magnetic survey programs. These images create an impression of the potential reserve and enable the company’s technical team to plan an efficient drilling exploration program. Further geological mapping has also identified an additional six magnetite veins. Only 40% of the company’s license area has been explored opening up the potential for further commercial discoveries. Ongoing exploration work is underway and the company will be updating its shareholders on the results accordingly.