Ann: Grants Iron Ore Basin Drilling Commencing Soon, page-14

What Could it all Mean? – My Thesis:

All the signs (Neoproterozoic fault-controlled basin# in the much older Broken Hill age basement rocks; large aeromagnetic and gravity anomalies; GTRC007 drill hole of 69 metres @ 31.7% Fe from 15 to 84 metres depth that ended in iron ore; Cutana, Grants and Alberts Fe quarries within the basin) point to a potentially large iron ore deposit beneath the Grants Iron Ore Basin.

The 17 reconnaissance drill holes about to be drilled by SIMEC Mining, across the western half of the Grants Iron Ore Basin, will be critical in establishing the geometry (particularly the depth) and grade distribution of magnetite iron ore within the target area, along with how much overburden there is.

The lab results will ultimately confirm the Fe% grades and also determine the Fe yield %.

Once drilling starts, it will be interesting to see if the geological form of the Grants Iron Ore Basin resource is in the shape of a ‘donut’ as Dr Giles refers to it.




# Havilah has said the Grants iron ore deposit is interpreted to be the faulted end of a very extensive iron ore basin.

In geology, a basin is a region where subsidence generates accommodation space for the deposition of sediments. That means a large ‘hole’ in the ground was formed.

We know the Neoproterozoic fault-controlled basin, named by Havilah as the Grants Iron Ore Basin, has subsequently been filled since its formation.

I subscribe to the theory it was mostly filled with iron ore and silica, via precipitation of iron oxide following 'snowball earth' during the Neoproterozoic Sturtian glaciation period, when dissolved iron in the South Australian inland sea came into contact with oxygen to form iron oxide.

That theory is about to be tested with SIMEC Mining's 3,500 metre reverse circulation (‘RC’ drilling program across the western half of the Grants Iron Ore Basin. This should at least determine the extent, thickness and grade of iron ore mineralisation in that area of the basin.

Remember, the Grants iron ore deposit is believed to have formed due to preservation of iron ore in a structural depression that was formed in the older Broken Hill age basement rocks at that location via precipitation of iron oxide during the Neoproterozoic Sturtian glaciation period. At that location it formed a JORC 304 million tonne iron ore deposit (at an average grade of 24% Fe). We know the Grants iron ore deposit starts at the surface and extends up to 180 metres depth in a single solid mass of essentially flat lying iron ore, with virtually no overburden and minimal internal waste.

I imagine the Grants iron ore deposit as being the soap dish on my bathroom basin, with the Grants Iron Ore Basin representing the bathroom sink.

Note: Braemar ironstone deposits span a corridor ~150 km long from the Carpentaria Resources Limited (ASX: CAP) Hawsons iron ore deposit in NSW to the Magnetite Mines Limited (ASX: MGT) Razorback Ridge and Ironback Hill iron ore deposits in South Australia – see image below, which also clearly shows Grants is close (8 km) to the highway/railway:



Braemar ironstone deposition occurred during the Neoproterozoic Sturtian glaciation period, around ~750 to 700 million years ago.

The literature indicates that by covering the South Australia’s inland sea in ice (glaciation) and not allowing the interaction of oxygen, a build-up in aqueous iron was induced. The underlying stagnant seawater was cut-off from oxygen supply and was rendered anoxic by organic matter decomposition. In addition, an increase in iron is believed to have come from hydrothermal vents in the area, which resulted in an oversaturation of iron in the water.

The Braemar iron formation was deposited on the South Australian/NSW inland sea floor when iron-rich anoxic water came into contact with oxygen again (see page 64 of the paper below, in particular Section 8.1):

https://pdfs.semanticscholar.org/801f/17ddc52c1ccc8daaa9b60ed8572e9da8b036.pdf

If precipitation was virtually undisturbed, large amounts of hydrothermally derived iron ore and silica will have built up as interbedded silt horizons in the depressions, assuming there was no influx of terrestrial dropstones or tillitic material from the melting glacier.

In theory, the deeper the depression (such as a Neoproterozoic fault-controlled basin) the larger the potential iron ore deposit for HAV shareholders.

Cheers

These are only my random (putting my pieces of the puzzle together, you draw your own conclusions) thoughts and it does not constitute investment advice. Before acting on any information you read and before making any financial or investment decisions, you should always consult your advisor(s) or other relevant professional experts.

HAV fanboy: still drinking the Kool-Aid