Magnetite Mines has successfully secured all requisite permits and heritage clearances, paving the way for the inaugural drilling phase at its wholly-owned Ironback Hill rare earth element (REE) project in South Australia. This pivotal undertaking, situated in proximity to the Razorback Iron Ore Project, signifies a crucial advancement in the company's exploration endeavors. With drilling contractors now enlisted, operations are poised to commence imminently, focusing on delineating the scope and geological characteristics of the previously identified clay-hosted REE mineralization. This mineralization was initially uncovered through a meticulous re-evaluation of historical iron ore drilling samples, highlighting the project's potential. The planned fieldwork is anticipated to span approximately ten days, with assay results from the samples expected within six to eight weeks, subject to laboratory processing timelines. This systematic approach underscores Magnetite Mines' commitment to disciplined exploration and long-term value creation.
Magnetite Mines Advances Ironback Hill REE Project with Drilling Approvals
In a significant development for the rare earth element sector, Magnetite Mines, an Australian mineral exploration company, has announced that it has obtained all necessary permits and heritage clearances for the initial drilling campaign at its Ironback Hill Rare Earth Element (REE) project. This project is strategically located within exploration license (EL) 6126 in the Braemar Iron Region, approximately 250 kilometers northeast of Adelaide, South Australia.
The company has confirmed that drilling contractors have been engaged, and active drilling operations are slated to begin within the forthcoming week, on or around Tuesday, February 17, 2026. The drilling program will involve up to 2,000 meters of aircore drilling. This extensive drilling aims to thoroughly investigate the lateral extent and the underlying geological controls of the clay-hosted REE mineralization that was first detected through the re-analysis of archived iron ore drilling samples.
The discovery of REE mineralization at Ironback Hill was initially announced in August 2025, based on these historic drill samples. Further testing and analysis led to an additional announcement of promising REE findings in November 2025, reinforcing the project's potential. Tim Dobson, Managing Director of Magnetite Mines, emphasized the importance of this upcoming drilling phase, stating that it will determine if the rare earth mineralization extends beyond the previously drilled areas and help understand the geological factors governing its occurrence.
Dobson also highlighted that the drill testing aligns perfectly with the company's overarching strategy to generate long-term shareholder value through a multi-commodity exploration approach across its extensive South Australian tenement portfolio. This strategy runs in parallel with the continued development of their flagship Razorback Iron Ore Project. Furthermore, in February 2024, Magnetite Mines demonstrated its commitment to sustainable practices by signing a memorandum of understanding with the Port Pirie Regional Council to transform Port Pirie into a future hub for green iron production.
A Promising Step Towards Sustainable Resource Development
The recent approvals for drilling at Ironback Hill signify a crucial milestone for Magnetite Mines and hold broader implications for the rare earth industry. This development reinforces the potential for new discoveries within established mining regions, showcasing the value of re-evaluating historical data with modern geological insights. From a strategic perspective, the project aligns with the growing global demand for rare earth elements, critical components in various high-tech industries, including renewable energy, electric vehicles, and advanced electronics. The company's dual focus on both rare earth and green iron production indicates a forward-thinking approach towards diversifying its portfolio and contributing to a more sustainable future. This commitment to responsible resource development, coupled with a disciplined exploration methodology, positions Magnetite Mines as a notable player in the evolving landscape of mineral resource extraction.