Iluka Resources (ASX:ILU) has delivered a maiden resource estimate for the Goschen South deposit in the Mallee region of Victoria, Australia.
Goschen South’s resource comprises a combined indicated and inferred resource of 630 million tonnes @ 3.7% heavy mineral sands (HM) for 24 million tonnes HM.
Heavy minerals include magnetite, ilmenite, leucoxene, rutile, zircon, garnet, monazite, among others. Some of these are considered valuable industrial minerals containing titanium, zirconium, alumina, and rare earths.
These minerals can be used for a variety of industrial purposes and are found in a range of everyday consumer products such as pigment for paint, paper and plastic, as well as homewares such as ceramics.
Iluka Resources, which has a market capitalisation of $2 billion, says the maiden resource is a result of exploration and deposit modelling conducted in 2024.
The company’s nearby deposits in the Wimmera region, the Goschen South deposit is considered a large potential source of zircon and rare earths.
The Goschen South deposit lies within the Murray Basin geomorphological province in Victoria, Australia.
Iluka Resources is currently developing Australia’s first fully integrated rare earth refinery at Eneabba in Western Australia.
Subject to development of Goschen South, Iluka says its rare earths have the potential to provide additional feedstock supply to the Eneabba refinery.
Iluka Resources is a global critical minerals company focused on exploration, project development, mining, processing, marketing and rehabilitation.
Write to Aaliyah Rogan at Mining.com.au
Images: Iluka Resources
