Pluton Resources is focused on development of the Irvine Island iron ore project in Western Australia as the Pluton’s key asset and growth opportunity. Pluton holds additional mineral tenements in Tasmania, but – at this stage – the Pluton's focus is Western Australia.

Progress is well advanced on planning and assessment of Pluton’s Irvine Island Project in Western Australia’s Kimberley region. A scoping study and subsequent Pre-Feasibility Study have highlighted the potential for a robust, profitable operation with an initial mine life of at least 11 years. Additional drilling and technical studies are currently underway with the aim of significantly increasing the initial mine life.

Key factors which make the Irvine Island Project an attractive proposal are –

• Negligible mine-to-port transport costs
• A deep water shipping channel suitable for Panamax and Cape Class vessels close to the proposed mine site
• Project design which eliminates the need for a sea wall
• Moderate capital and operating costs
• Low impurities in the ore
• Proximity to markets in Asia
• Good relationships with the traditional owners.

The key milestones in the Irvine Island Project are listed below: