Hawsons Iron Ltd (ASX:HIO) has completed the mineral resources estimate for the Hawsons Iron Project after including all outstanding sample assay data captured during the 2021-22 infill drilling program.
Encouragingly, data from previously unprocessed samples were accurately predicted within the resource modelling program used, so any differences in the completed updated resources estimate with those previously announced were not materially significant and well within the error bars associated with the estimation process.
Hawsons Iron Project resource using a 6% recovered magnetic fraction (DTR) cut-off constrained to a pit shell.
Hawsons managing director Mr Bryan Granzien said the additional drill-hole data had verified the modelling program’s assumptions and accuracy and established the consistency of recovered magnetic fraction (DTR) necessary to meet JORC Code (2012) requirements for the Bankable Feasibility Study.
Granzien added: “With the analysis of all drilling sample assay results from the 2021-22 infill drilling program now complete, our mining consultant Australian Mine Design and Development (AMDAD) can finalise the mine pit-shell design work for the expanded 20 million tonne per annum (Mtpa) project to determine the pathway for conversion of sufficient Mineral Resources to economically mineable Ore Reserves.”
The completed resource statement also confirmed that estimates from geophysics were consistent with the geochemical analysis of samples, potentially reducing the extent of laboratory sample analysis required for any future drilling.
Granzien explained that the previous drilling program had been designed for the initial 10 Mtpa project and that a further program was now being considered for 2022-23 to support the upscaled 20 Mtpa production profile and to:
- determine the extent of the mineral body beyond the current main drilling pattern and identify structural features using a combination of drilling and geophysical surveys;
- conduct sterilisation drilling to ensure no ore potential exists beneath planned infrastructure sites;
- excavate test pits to ascertain the geo-mechanical properties of surface material and determine infrastructure foundation support requirements;
- upgrade inferred resources to the indicated category and indicated resources to the measured category through infill drilling within the mine’s pit shells to facilitate conversion into sufficient economically mineable proved and probable reserves; and
- potentially increase the quantities of resource reported to date.
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