geo interpretation request

Can anyone explain to me in laymans terms what the following means (this passage is extracted from HAW's last qtly):

'The drilling carried out to the north of the tenement boundary intersected consolidated pisolitic gravels
(possibly associated with a palaeo-channel) over zones of secondary goethite and haematite, haematite,
interbedded haematite and magnetite and magnetite only mineralised sediments of variable thickness
in each fence of drillholes.
This sequence of mineralisation is located in the hangingwall of a thick package of interbedded, pyritic
and magnetite altered carbonaceous shales, strongly altered ultramafics and lesser siliceous BIF
units.'