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Location: 60 km SW from Broken Hill, New South Wales, Australia
Unit 3B, Level 3 410 Queen StreetPO Box 10919BrisbaneQueensland, Australia4000
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The Hawsons Project is situated within the Braemer Formation extending through NSW and SA. The latest drilling in 2023-2024 confirmed nearsurface mineralization (0-150 m depth) with grades =9% DTR in the Fold area. The Braemar Iron Formation is the host stratigraphy and comprises a series of strike extensive magnetite-bearing siltstones generally with a moderate dip (circa -55°), primarily to the southwest. The airborne magnetic data clearly indicates the magnetite siltstones as a series of parallel, high amplitude magnetic anomalies. Large areas of the Hawsons prospective stratigraphy are concealed by transported ferricrete and other younger cover. The base of oxidation due to weathering over the prospective horizons is estimated to average 80m from surface.The Hawsons project comprises a number of prospects including the Core, Fold, T-Limb, South Limb and Wonga deposits. Mineral Resources have been generated for the Core and Fold areas, which are contiguous.The depositional environment for the Braemar Iron Formation is believed to be i n a subsiding basin, with initial rapid subsidence related to rifting possibly in a graben setting as indicated by the occurrence of diamictites in the lower part of the sequence (Unit 2). A possible sag phase of cyclical subsidence followed with deposition of finer grained sediments with more consistent bed thicknesses, style and clast composition (Unit 3), as compared to the diamictite units. The transition from high (Unit 2) to lower (Unit 3) energy sediment deposition is marked by top of the Interbed Unit.The distribution of disseminated, inclusion-free magnetite in the Braemar Iron Formation at Hawsons is related to the composition and nature of the sedimentary beds. The idioblastic nature of the of the magnetite is believed due to one or more of a range of possible processes including in situ recrystallisation of primary detrital grains, chemical precipitation from seawater, or permeation of iron-rich metamorphic fluids associated with regional greenschist metamorphism. Grain size generally ranges from 10microns to 0.2mm but tends to average around the 40 microns. The sediment composition and grain size appear to provide the main control on the mineralisation. There is no evidence for structural control in the form of veins or veinlets coupled with the lack of a strong structural fabric.In the majority of the Core and Fold deposits the units strike southeast and dip between 45° and 65° to the south west. The eastern part of the Fold deposit comprises a relatively tight synclinal fold structure resulting in a 90° strike rotation. The mineralisation is stratabound as disseminated grains of magnetite associated with variable interstitial porosity of the clastic sediments with no obvious structural remobilisation or overprint. Mineralisation exhibits relatively poor downhole continuity with zones of variable magnetite grade (a function of the clastic grain size and composition) but in most instances the contacts between higher and lower grade mineralisation are gradational and precludes the use of hard boundaries as stratigraphic controls to mineral grade interpolation.DimensionsThe Mineral Resources have a strike length of around 3.3km in a south easterly direction. The plan width of the resource varies from 700m to 1.9km with an average of around 1.1km (noting the relatively moderate dip angle of the beds). The upper limit of the mineralisation is exposed in the SE of the deposit with the fresh rock generally occurring between 25 and 80m below surface (average 65m) and the lower limit of the Mineral Resource extends to an approximate depth of 550m below surface (-360mRL).The lower limit to the Mineral Resource is a direct function of the depth limitations to the drilling in conjunction with the search parameters. The mineralisation is open at depth and to the south beyond the Fold area (i.e. the South Limb).
