Korab Resources has announced plans to conduct a helicopter-assisted ground gravity survey for infill data on its Rum Jungle Project which hosts the Winchester magnesite deposit.

Following seven years of data collection, Korab Resources has identified several key targets on its Rum Jungle project that undergo a ground gravity survey. The helicopter-assisted geophysical survey will consist of 320 stations spaced at 250m to 500m to cover the target areas. This high-resolution infill data acquisition will occur in collaboration with a low-resolution gravity survey campaign planned by the Northern Territory Geological Survey (NTSG). The Winchester deposit has a JORC-compliant resource containing 16.6Mt total resource that is classified into an indicated resource of 12.2Mt at a grade of 43.1% MgO and an inferred resource of 4.3Mt at a grade of 43.6% MgO. Korab also released the results of its scoping study in March 2022 which outlines plans to develop a magnesium metal plant with a capacity of 50ktpy.

Magnesium metal is an important material for industrial development owing to its applications in the aluminium and steel industries, as well as its importance for defence due to its utilisation for titanium reduction. Combining this economic importance with the supply risk created by its local production in China (almost 90%), Project Blue has ranked magnesium 6^th in its Critical Materials Risk Index (CMRI). Furthermore, magnesium metal demand is forecast to increase from 1,350kt in 2023 to roughly 1,700kt by 2034, driven by the aluminium and die-casting industries. Given its associated supply risk and the forecast demand growth, should Korab successfully develop the Winchester project, the company will be strategically placed to become a significant supplier of magnesium metal outside of China.