Magnetic has undertaken a programme of first-pass exploration on this large and mostly unexplored tenement package with the aim of identifying the most prospective areas for further exploration. The joint venture package currently comprises exploration licences on which targets for gold, iron, nickel or uranium have been identified. In addition Magnetic has acquired several areas in its own right, prospective for iron and uranium.
Magnetic is devoting a large percentage of its current exploration effort in its iron ore projects in the wheatbelt of south western Australia. The exploration effort ranges from first pass grassroots to more advanced projects exploring for both DSO and magnetite ores.