Accent Resources NL
- ASX Code: ACS
- Market Cap: $5,874,447
Accent Resources Reports Dry Magnetic Separation Results at Magnetite Range
Accent Resources NL (ASX: ACS) has reported new metallurgical testwork from its 100%-owned Magnetite Range Project in Western Australia, with the latest Pre-Feasibility Study (PFS) work indicating that a dry processing route may materially upgrade ore while reducing the volume of feed sent to downstream circuits. According to the ASX announcement, independent testing by Central South University (CSU) in China achieved up to 46% mass rejection at 3mm while maintaining magnetic iron recoveries above 97%.
The testing also demonstrated the potential to produce more than 60% Fe concentrate using a fully dry flowsheet at P80 0.150mm. For investors following magnetite development projects, the update matters because it addresses two of the main technical and commercial questions: how much waste can be removed early, and whether a saleable iron concentrate can be produced without relying heavily on water-intensive processing.
The results sit within a broader PFS programme for a project that already hosts a JORC 2012 Mineral Resource of 523.3 million tonnes grading 31.3% Fe.
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What the ASX Announcement Reported
In the announcement, Accent stated that CSU completed an independent beneficiation test programme over material from the Julia and Robb deposits. The work was designed to assess several processing pathways, with particular attention on dry magnetic separation as a means of lowering water use and potentially reducing project costs.
The company reported two standout outcomes:
- Coarse dry magnetic separation rejected up to 46% of mass at 3mm
- High-speed dry separation produced concentrates grading above 60% Fe
The testwork is part of the ongoing PFS metallurgical workstream, which is intended to define an optimal process flowsheet for Magnetite Range. Furthermore, Accent also stated that both dry and wet flowsheet scenarios are still under consideration at this stage.
Managing Director Commentary
"The ability to reject a substantial proportion of waste material through dry magnetic separation, while maintaining high magnetic iron recovery, could deliver important benefits through reduced water consumption, lower downstream processing requirements and potentially lower operating costs," said Dr David Sun, Managing Director and Chief Executive Officer.
"The results also demonstrate the potential to produce a high-quality magnetite concentrate using a fully dry processing flowsheet."
Why Dry Magnetic Separation Matters
Dry magnetic separation is a processing method used to separate magnetic iron minerals, such as magnetite, from non-magnetic waste rock without using large volumes of water. In practical terms, crushed ore passes through magnetic equipment that attracts the iron-rich particles, while non-magnetic material falls away as waste.
That matters at Magnetite Range for several reasons. First, early gangue rejection means less material needs to be ground and processed later. Gangue is the unwanted rock or mineral material mixed with the ore. If nearly half of the material can be rejected at a relatively coarse crush size, that may reduce the size and energy demand of downstream processing circuits.
Second, dry processing can be relevant in areas where water supply is a design consideration. The company stated that the test programme focused on dry separation partly as a way of reducing water consumption and lowering project costs.
Third, the results suggest a possible path to producing a magnetite concentrate through a fully dry flowsheet. This is not yet a final processing decision; however, the announcement indicates the concept has technical support from independent laboratory work.
A Simple Glossary for Non-Specialists
| Term | Meaning |
|---|---|
| Gangue | Waste minerals that have little or no economic value |
| Magnetic iron (MFe) | The magnetic portion of the iron content, which is the key target in magnetite processing |
| Total iron (TFe) | The total iron content in the sample, including magnetic and non-magnetic forms |
| Mass yield | The proportion of feed that becomes concentrate |
| Mass rejection | The proportion of feed discarded as waste |
| P80 0.150mm | A grind size where 80% of the material passes through a 0.150mm screen |
| PFS | A Pre-Feasibility Study, which assesses whether a project may be technically and economically viable |
| BIF | Banded Iron Formation, the rock type hosting the project's magnetite mineralisation |
Testwork Covered Four Composites from Julia and Robb
According to the announcement, four of the 18 diamond drillholes from the 2024 geometallurgical drilling programme were used for the CSU work. Around eight tonnes of core material was shipped to China and processed into four main composites representing Upper and Lower BIF domains from both Julia and Robb.
The head grades reported for those composites were broadly consistent with a magnetite development project at this stage.
| Composite | Fe (Total) % | SiO₂ % | Al₂O₃ % | P % | S (Total) % |
|---|---|---|---|---|---|
| Julia Upper BIF | 29.98 | 46.50 | 1.61 | 0.053 | 0.13 |
| Julia Lower BIF | 32.42 | 47.04 | 0.86 | 0.052 | 0.59 |
| Robb Upper BIF | 30.62 | 45.68 | 2.58 | 0.053 | 0.80 |
| Robb Lower BIF | 30.32 | 47.54 | 0.43 | 0.058 | 0.21 |
These starting grades are important because beneficiation testwork is ultimately about the scale of the upgrade that can be achieved from feed to concentrate.
Stage 1 Showed Strong Early Waste Rejection at Coarse Sizes
The first stage of testing looked at coarse dry magnetic separation on material crushed to -10mm and -3mm. The more material that can be discarded at this stage without losing too much magnetite, the more efficient the overall flowsheet may become.
At -3mm, the announcement reported the strongest balance between mass rejection and magnetic iron recovery. Across all samples, magnetic iron recovery remained above 97% to 99%, while mass rejection reached up to 46%. Selected -3mm results are set out below.
| Sample | Mass Yield | Fe (Magnetic) Yield | Fe (Total) Grade |
|---|---|---|---|
| Julia Upper BIF | 53.9% to 59.8% | 97.7% to 98.9% | 37.4% to 38.5% |
| Julia Lower BIF | 72.2% to 76.4% | 99.0% to 99.6% | 36.8% to 40.3% |
| Robb Upper BIF | 58.6% to 63.7% | 98.7% to 99.3% | 35.6% to 36.6% |
| Robb Lower BIF | 65.1% to 73.6% | 98.8% to 99.5% | 36.7% to 39.1% |
The company also reported that increasing separator drum speed improved concentrate grades and gangue rejection, although with a minor reduction in total iron recovery. That trade-off is common in beneficiation work, where operators often adjust settings to balance grade against recovery.
Further Dry Upgrading Lifted Iron Grades Past 50% Fe
In the next stage, the -3mm dry concentrate was finely crushed and reground to P80 0.150mm, then put through another round of dry magnetic separation. Accent reported that the optimal conditions were around 80% passing 0.150mm and drum speeds of about 4.4 m/s.
This second dry upgrading step produced a more meaningful increase in total iron grade.
| Sample | Mass Yield | Fe (Total) Yield | Fe (Magnetic) Yield | Fe (Total) Grade |
|---|---|---|---|---|
| Julia Upper BIF | 69.6% | 91.1% | 99.6% | 50.8% |
| Julia Lower BIF | 75.6% | 95.9% | 99.6% | 51.2% |
| Robb Upper BIF | 63.1% | 82.3% | 99.4% | 47.7% |
| Robb Lower BIF | 68.5% | 90.1% | 99.6% | 51.2% |
The key point from this part of the report is not simply that grades improved, but that magnetic iron recoveries remained above 99%. That suggests the target mineral was largely retained even after multiple stages of dry processing.
High-Speed Dry Separation Pushed Concentrate Grades Above 60% Fe
The strongest headline result came from testing with high-speed dry magnetic separators operating at up to 9 m/s and a field strength of 3,500 Gauss. According to the company, this represented testing on current latest-generation machines.
At these elevated operating conditions, Accent reported concentrate grades above 60% Fe from all four composite types at selected speeds. The trade-off, however, was lower mass yield and somewhat lower overall iron recovery compared with conventional dry separation speeds.
Julia High-Speed Dry Separation Results
| Drum Speed | Mass Yield | Fe (Magnetic) Yield | Fe (Total) Grade |
|---|---|---|---|
| 5 m/s Upper BIF | 55.8% | 96.5% | 57.0% |
| 7 m/s Upper BIF | 48.4% | 93.7% | 63.5% |
| 9 m/s Upper BIF | 44.5% | 90.7% | 66.0% |
| 5 m/s Lower BIF | 63.3% | 97.3% | 55.9% |
| 7 m/s Lower BIF | 62.1% | 96.0% | 62.2% |
| 9 m/s Lower BIF | 52.8% | 93.7% | 64.7% |
Robb High-Speed Dry Separation Results
| Drum Speed | Mass Yield | Fe (Magnetic) Yield | Fe (Total) Grade |
|---|---|---|---|
| 5 m/s Upper BIF | 49.5% | 96.5% | 56.5% |
| 7 m/s Upper BIF | 43.1% | 92.7% | 60.8% |
| 9 m/s Upper BIF | 38.2% | 87.2% | 63.1% |
| 5 m/s Lower BIF | 58.2% | 98.1% | 59.6% |
| 7 m/s Lower BIF | 55.3% | 97.0% | 61.4% |
| 9 m/s Lower BIF | 48.6% | 94.3% | 65.3% |
For investors, this is one of the most relevant parts of the release. It suggests that a dry route may be able to produce moderate-grade to high-grade magnetite concentrate, subject to later optimisation on recovery, equipment selection and cost.
How the Results Fit the Broader PFS Picture
The current update builds on earlier metallurgical work reported from Bureau Veritas in Perth. Accent stated that the CSU testwork was conducted independently and in tandem with that earlier programme.
The announcement references prior Bureau Veritas outcomes including:
- Davis Tube Recovery concentrates grading up to 71% Fe at a standard 45µm grind
- Laboratory-scale dry LIMS with high mass yields at 8mm crush sizes
- Follow-up testwork showing concentrates above 65% Fe at 0.150mm and finer
Taken together, the company is building a larger metallurgical dataset rather than relying on a single test series. That is relevant because process route selection in a PFS is typically based on multiple test streams, not one result in isolation.
In addition, the CSU work recorded a crushing work index of 8 to 9 kWh/t, which the announcement described as moderate. In simple terms, this is a measure of how much energy is needed to crush the ore. Moderate energy requirements may support the case for crushing to the particle sizes needed for dry separation, although this still needs to be weighed against full processing and capital cost assumptions in the PFS.
What Investors Should Watch Next
The ASX announcement makes clear that the processing route is not yet finalised. Additional work is still required to define the optimal crush size and refine the flowsheet. According to the company, next steps include:
- Additional testwork to determine the best crush size for ore preparation
- Ongoing assessment of both dry and wet flowsheet scenarios
- Additional infill RCP drilling over Julia and Robb
- Hydrogeological investigations
- Geotechnical investigations
- Mineral Resource estimate updates
- Further PFS studies, including environmental, infrastructure and mining work
This means the latest results should be viewed as an important technical input into the PFS, rather than a final definition of plant design or project economics.
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Why This Announcement Matters for the Magnetite Range Investment Case
Magnetite projects often face two core challenges: they can require substantial processing, and they can demand large volumes of water and energy. The relevance of the latest update is that it addresses both issues at an early stage.
The reported ability to reject up to 46% of feed mass at 3mm could reduce the amount of material entering downstream circuits. If that performance is supported in later studies, it may have implications for comminution requirements, plant sizing and operating costs.
Furthermore, the demonstration of more than 60% Fe concentrate from a fully dry route is also material. Product quality is central to project economics, and the testwork suggests that commercially relevant concentrate grades may be achievable without relying solely on conventional wet processing.
Accent remains a single-project focused developer at Magnetite Range, and the PFS will determine whether this metallurgy can translate into a practical and economic flowsheet. For now, the announcement indicates that dry magnetic separation has moved from concept to a technically supported option within the study process.
With a 523.3Mt resource at 31.3% Fe, continued metallurgical optimisation may become one of the more important value drivers for the company over the next phases of study work.
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