SOUTH AUSTRALIA MAGNESITE
Foyson Resources 100% owned magnesite tenements are located in South Australia approximately 500km north of Adelaide.
There are two mining leases and two miscellaneous purpose leases;
- Mining Leases 5000 and 5001 which cover 32 hectares of the existing Myrtle Springs magnesite mine, expiring on 29 March 2022
- Miscellaneous Purpose Lease 18 which covers 16 hectares, adjoins Myrtle Springs mine and is used for waste stockpiles; expiring on 29 March 2022;
- Miscellaneous Purpose Lease 27 which covers 5 hectares over an existing water bore near Myrtle Springs gorge; expiring on 30 September 2008
Foyson also holds an under-lease on the pastoral lease to conduct mining operations within the Mt Hutton and Myrtle Springs Mineral Leases with Native Title approval in place.
The deposit comprises a steeply dipping sequence of magnesite and dolomite interbeds that outcrop continuously throughout the tenement.
Unimin entered into a 3 year sales contract for 1000tpa of magnesite in 2010. Campaign mining in 2010 produced and stockpiled around 3700t. The magnesite is being used to produce a fire resistant building board and there is some potential for this market to grow.
DOW-MIL PROCESS TECHNOLOGY
In 1999 Foyson obtained a global exclusive license to the Dow Process Knowledge for the production of magnesium metal by electrolysis and the manufacture of magnesium alloys.
Foyson developed Magnesium Smelter Technology from the Dow Process Knowledge which incorporated process improvements recommended by Dow and accommodated magnesite as the feedstock.
Foyson is seeking to license the Magnesium Smelter Technology which consists of:
- Dow Process Knowledge: technical reports, operating data and drawings
- Principal’s Project Requirements (PPR) developed by Foyson
- Engineering carried out by Foyson
- Feasibility studies carried out by Foyson
- Data and reports on magnesite resources carried out by Foyson
- Test-work reports on Mt Hutton and Sul Hamed magnesite carried out by Foyson
Marketing studies by Clarke and Marron commissioned by Foyson