Wilcherry Hill

The existing JORC resource of 44 million tonnes at an average grade of 36.4% Fe is hosted by 3 of 93 magnetic anomalies within the central tenement of Wilcherry Hill which has potential to host 300 – 600 million tonnes of similar mineralised material according to an independent review. Further similar targets lie in Ironclad’s tenements to the east and west of Wilcherry Hill and a drilling program of at least 35,000 metres is planned from September 2007 to better define and expand the current resources and test selected regional magnetic targets.

Ironclad is earning an 80% interest in the iron ore within the tenements held by Trafford Resources Limited through expenditure of $10 million over 2 years and has commenced a Pre-feasibility Study to evaluate the optimum production rate, product type and product transport options. The study, costing approximately $9 million, will be completed by late in the first quarter of 2008 and subject to results is expected to lead to a feasibility study with first production planned for mid 2010. (Read more about this project)

Mining

The Wilcherry Hill area is deeply weathered with oxidised material extending to depths of at least 100 metres.

The iron bearing units are generally less weathered than the adjacent sediments and granites and are virtually distinctive, being black compared with the cream coloured waste rock. This contrast is expected to provide Wilcherry with relatively low cost waste mining and facilitate selective mining of the ore zones with little dilution or ore loss.

Mining of the ore will be through conventional open pit methods using excavators and haul trucks. Due to the weathered nature of the host sequence only limited blasting is expected with much of the waste material being "free dig". (Read More)

Exploration

Independent Geologist, Maprock Pty Ltd, indicates an exploration target potential of 300 to 600 Million tonnes iron rich magnetite bearing material down to a vertical depth beneath surface of 150 metres within the Wilcherry Hill tenements.

This potential includes extension of the existing resources at Weednanna and Ultima Dam along with numerous similar magnetite targets adjacent to the area and within the region. (Read More)

Ian Finch BSc (Hons) MAusIMM –  Executive Chairman

Ian’s career spans over 35 years of mining and exploration. He worked extensively throughout Southern Africa between 1970 and 1981 - from the Zambian Copper Belt and Zimbabwean Nickel and Chrome fields to the Witwatersrand Gold Mines in South Africa. In 1981 he joined CRA Exploration as a Principal Geologist, before joining Bond Gold as its Chief Geologist in 1987. In these roles he was instrumental in the discovery and development of several new gold and copper/gold resources in Australia.
In 1993 Ian established Taipan Resources Ltd, a company which successfully pioneered the exploration for large gold deposits in the Ashburton district of Western Australia – when it discovered a resource of approximately 1.0 million ounces at the Paulsen’s Project.

In 1999 Ian founded Templar Resources Ltd now a 100% owned subsidiary of Canadian listed company Goldminco Corporation. As President / CEO for Goldminco Mr Finch established an extensive exploration portfolio in New South Wales where the Company is actively exploring for large porphyry copper / gold deposits. During his presidency Mr Finch forged strong strategic ties with major mining houses and financial institutions in Vancouver, Toronto and London. Mr. Finch is the Managing Director of Trafford Resources Limited and non-executive Chairman of Robust Resources Limited.

He has a BSc (Hons) in Geology from the University of Birmingham (England) and is a Member of the Australasian Institute of Mining and Metallurgy.

Neil McKay BBus - Company Secretary - Non-Executive Director

Neil McKay, a former Associate of the Institute of Chartered Accountants in Australia, has been involved in the resources industry for more than 30 years. He has been Company Secretary for several listed resource public companies and held senior administrative and accounting positions for a number of other resource companies. Since 1995 he has operated as an independent consultant, specializing in the incorporation and administration of resource companies with special focus on South East Asia. For the past two years he has divided his time between Australia, where he consults to various public companies, and South East Asia where he continues his involvement. Neil also acts as Company Secretary and is a director of a Trafford Resources Ltd.

Peter Rowe BSc. FAusImm  FAICD - Non-Executive Director

Mr. Rowe has extensive mining industry experience over a 35 year career in Australia and South Africa.
Following 20 years with Anglo American and De Beers, he moved to Australia in the early 1990s where he held a number of senior managerial positions. These included project director of the Fimiston expansion (Kalgoorlie Superpit), general manager of the Boddington Gold Mine and of the Boddington Expansion Project and managing director and CEO of Bulong Nickel. He joined AngloGold Ashanti in 2004 as head of AngloGold Ashanti Australia and transferred to Johannesburg in 2006. He has recently retired from his position there as executive vice president – business effectiveness and is returning to Australia.

He holds a BSc in Chemical Engineering, is a Fellow of the Australasian Institute of Mining and Metallurgy and a Fellow of the Australian Institute of Company Directors.

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