Hawsons Iron Ltd (ASX:HIO) chair Bryan Granzien tells Proactive the company has identified mineable near-surface magnetite mineralisation at targeted grades, paving the way for a strategic shift in the company's mining approach that could potentially expedite the full production phase of the Hawsons Iron Project in Far West New South Wales.
The company's stage 2 resource analysis exploration drilling was carried out during the first half of 2023, demonstrating the potential for significant extension along the southwest strike. Further exploratory drilling is required to define the extent and tonnage of the near-surface mineralisation.
Combined with further physical and geophysical mapping, these results provide a clear basis for additional drilling to define the extent, tonnage and grade of this near-surface mineralisation, for even stronger enhancement of the Hawsons Iron Projects economics, he said.
This also means we have more work to do, such as mapping visible outcropping, ground-based geophysical surveys and surface trenching before undertaking the additional drilling.
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