Company and Project Overview

Ferrum Crescent Limited is an Australian company listed on the Australian Securities Exchange (ASX).

The Company seeks to capitalise on the future demand for iron and steel worldwide by producing iron products in the Republic of South Africa, for both the domestic and the export markets.  Ferrum Crescent will maximise the beneficiation of iron ore product locally in line with the objectives of the Mineral and Petroleum Resources Development Act 2002 (South Africa).

During the recent global rush for iron ore resources, South Africa, a relatively under-developed market has been largely overlooked, prompting Ferrum to identify and pursue opportunities in South Africa.

To that end, the Company has acquired a controlling interest in a South African company that holds the rights to significant iron ore deposits in South Africa.  The Turquoise Moon Iron Project consists of two separate iron ore (magnetite) occurrences, the Moonlight Deposit and the De Loskop Prospect.

The Moonlight Deposit consists of coarse-grained magnetite-quartz rocks that display the following features which set it apart from comparable magnetite deposits:

• The ability to produce very high quality concentrates at a coarse grind size;
• Exceptionally low level of detrimental elements in the concentrates;
• Near surface mineralisation;
• Low stripping ratios. 

The mineralisation is close to surface and consequently represents a low stripping ratio target with subsequent mining cost benefits. The contained iron within the maiden Indicated Resource is sufficient to exceed 20 years’ production.

The De Loskop Prospect is located approximately 150k east of Moonlight and only 50k north of Polokwane, the regional service centre.  The prospect contains a huge iron exploration target at a grade of between 30% Fe and 40% Fe. Being close to Polokwane, the De Loskop prospect has good infrastructure nearby and will be explored by the Company in greater detail in the near future.