Hawsons Iron Ltd (ASX: HIO) has reported significant progress in exploratory drilling during the first half of 2023. The results indicate the presence of a prospective, near-surface magnetite mineralization at targeted grades, with the potential for further extension along the south-west strike. Stage 2 resource analysis exploration drilling has further validated the existence of a promising, near-surface zone hosting magnetite mineralization.
This discovery has prompted a shift in the mining strategy, aiming to accelerate the ramp-up to full production at the Hawsons Iron Project. Additional exploratory drilling is planned to determine the extent and tonnage of the near-surface mineralization precisely. The Company is actively working on assessing the scope and cost of this further drilling while seeking regulatory approvals.Hawsons Iron Ltd is financially prepared to fund the estimated further exploratory drilling, with sufficient working capital available.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
