The problem is "classic magnetite-style IOCG" does not always have associated hematite-rich zones. There can be hematite, but zones of hematite-dominated alteration associated with high grade mineralization are rare to non-existent.
Also, I know you are judging purely from low resolution photos, but the presence of sericite is not consistent with "classic magnetite-style IOCG alteration".
Given the lack of abundant iron oxide in the alteration is a bit of a stretch to even be calling what they have found so far, Iron Oxide Copper Gold.
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