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Sydney, Sep 9, 2011 (ABN Newswire) - FINANCE VIDEO: Royal Resources (ASX:ROY) MD Marcus Flis Presents to the Capital Markets in Sydney at Investorium.tv regarding the Magnetite project at Razorback. The Razorback Iron Ore Project is potentially a very large magnetite deposit that can use existing open-access rail and port infrastructure.

Mr Flis holds degrees in both geology and geophysics and is highly qualified in the resources industry, having over 27 years experience covering all aspects of exploration, resource definition and project assessment. He has recently held the position of Project Director with Rio Tinto Iron Ore business development group. Previously Mr Flis held positions as exploration manager with Hamersley Iron and Iron Ore Company of Canada and Manager-Geophysics at Newcrest Mining Ltd. Mr Flis comes with extensive experience as an explorationist for a wide range of mineral commodities in varied mineral terrains and geographies.

To view the Webcast, click Here:
http://www.abnnewswire.net/press/en/69448/Royal


About Magnetite Mines Ltd

Magnetite Mines Limited (ASX:MGT) Magnetite Mines Limited (ASX:MGT) is a mineral exploration company exploring for iron ore and copper in South Australia and for iron, gold and uranium in the Northern Territory.

Our main focus is the Mawson Iron Project (MIP), a very large magnetite province located 240km NNE of Adelaide, South Australia - 100% owned and operated by Magnetite Mines Limited. The project has a JORC 2004 compliant resource of over 2.7 Billion tonnes (Indicated and Inferred) at the Razorback Ridge Deposit (Razorback) with an additional 1.2 Billion tonnes (Inferred) in the nearby Ironback Hill deposit. There remains up to a conservative 16 - 35 Billion tonnes as an exploration target at grades of 18 to 45% Fe. Razorback occurs in an infrastructure rich area that has access to nearby existing open user rail, port, power, gas, heavy engineering and dormitory towns. Presently a MOU between Magnetite Mines and Braemar Infrastructure exists for the implementation of an innovative slurry pipeline - infrastructure corridor to deliver iron ore concentrate from mine to ship in the Spencer Gulf.

   


Contact

Gordon Toll
Chairman and Chief Executive Officer
T: +61-8-8427-0516

Peter Schubert
Non-Executive Director
T: +61-416-375-346
E: info@magnetitemines.com
W: www.magnetitemines.com


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