- Hawsons Iron (HIO) reports a 21 per cent increase in its namesake Hawsons Iron project’s mineral resource estimate (MRE) to 484 million tonnes
- Of the total new resource, roughly 54 million tonnes lie in the ‘measured’ category and 193 million tonnes in the ‘indicated’ category
- The resource upgrade comes on the back of an infill drilling campaign completed in the project area over 2021 and 2022
- Hawsons Managing Director Bryan Granzien says the company will announce a further mineral resource upgrade by the end of the September quarter
- Shares in Hawsons Iron are up 7.32 per cent to 44 cents at 11:34 am AEST
Hawsons Iron (HIO) has reported a 21 per cent increase in its namesake Hawsons Iron project’s mineral resource estimate (MRE) to 484 million tonnes (Mt).
The resource upgrade came on the back of an infill drilling campaign completed in the project area over 2021 and 2022.
Of the total new resource, roughly 54 million tonnes lie in the ‘measured’ category and 193 million tonnes in the ‘indicated’ category. Hawsons said this meant it had sufficient combined measured and indicated resources to meet its targeted 20 million tonnes per annum of concentrate production.
Hawsons Managing Director Bryan Granzien said this resource upgrade was “significant” because having mineral resources in the higher-confidence measured and indicated categories was necessary to deliver a bankable feasibility study for the project.
“This upgraded mineral resource estimate will now be used for discussions with potential project financiers and as the basis for all our ongoing technical work,” Mr Granzien said.
He said the company would announce a further mineral resource upgrade by the end of the September quarter to report on the results from drilling samples being analysed by Bureau Veritas and added to the drill hole database.
Shares in Hawsons Iron were up 7.32 per cent to 44 cents at 11:34 am AEST.