Radar Iron (ASX: RAD) has hit the exploration track running after confirming a 5.3 billion tonne magnetite potential, just six weeks after listing on the ASX.
Radar said the total iron mineralisation target exploration potential is 5.8 billion tonnes.
The targets were identified by aero-magnetic data covering the company's Johnston Range project, which is strategically located in the Yilgarn iron ore province of Western Australia.
Independent geophysical consultants, Resource Potentials from Perth, conducted the review.
The full results include exploration potential for iron mineralisation of 5.83 billion tonnes, at 20% to 65% iron, for 493 million tonnes at 40% to 65% iron.
Radar's objective is to define a maiden magnetite resource by the end of 2011.