OREAS 40 is sourced from material located in the Buccaneer Archipelago from the Koolan Island hematite deposits. These form part of the Yampi Sound group of iron ore deposits in the West Kimberly region 130km north west of Derby in Western Australia. High grade hematite mineralisation is developed in basal conglomerates and sandstones of the Palaeoproterozoic Yampi Formation at or close to the contact with the underlying Elgee Siltstone Group.
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