Core Viewpoint - Magnetite Mines has received all necessary permits and approvals for the initial drilling phase at its Ironback Hill rare earth element project in South Australia, with operations expected to commence shortly [1][6]. Group 1: Project Details - The planned drilling will involve up to 2,000 meters of aircore drilling to investigate the extent and geological controls of previously identified clay-hosted REE mineralization [2]. - The Ironback Hill REE project is located within exploration licence (EL) 6126 in the Braemar Iron Region, approximately 250 kilometers northeast of Adelaide [3]. - Initial REE mineralization was discovered in August 2025 through a reassessment of archived iron ore drilling samples, with further findings announced in November 2025 [3][4]. Group 2: Operational Timeline - Fieldwork for the drilling is expected to last around ten days, with sample assay results anticipated within six to eight weeks, depending on laboratory processing times [2]. - Drilling contractors have been engaged, and operations are set to start within the coming week [1]. Group 3: Strategic Alignment - The drilling program aligns with the company's strategy to create long-term shareholder value through a disciplined, multi-commodity exploration approach across its South Australian tenement portfolio [6]. - The company continues to prioritize the development of its flagship Razorback Iron Ore Project while exploring additional opportunities in rare earth elements [6].