Even though the Mt Bevan Iron Ore project is just one of the many interests of HAW I think at the moment it probably holds the key for the interest in this stock. This was an interesting part of the quarterly report.
"Flat lying zones of haematite and goethite continue to be intersected in a 10-15 metre thick, pervasive layer above the primary, high grade haematite mineralisation at Mt Mason. These flat-lying zones of haematite-geothite mineralisation (which have also been identified in several other palaeo-channel type positions throughout the tenement area) are believed to be similar to channel iron deposits and may represent a near surface resource of iron ore fines that can be further upgraded by simple dry screening. Hawthorn Resources Limited June 2009 Quarterly Report 4 Bulk samples of RC chips from this layer are to be submitted shortly to Amdel Metallurgical Laboratories, Perth for screen, gravity spiral and other beneficiation testwork.
If this material can be simply upgraded to a saleable iron ore product it may significantly improve the economic viability of future mining operations in the district.
At Mt Mason, in particular, the layer would require excavation prior to exploitation of the primary haematite mineralisation in any mining scenario – adding significant resource tonnage and reducing overall mining costs. Results from this testwork are expected during the September Quarter."
Resluts due for these samples in the September quarter. Could be very interesting this Mt Mason extension, Jupiter/Pallinghurst may want to see the results before deciding what to do!
Chris
HAW Price at posting:
0.9¢ Sentiment: ST Buy Disclosure: Held
