Hawsons Iron (ASX: $HIO) completes drilling program and resource update

Hawsons Iron Ltd (ASX: $HIO) has completed its drilling program and resource update, resulting in a 12.5% increase in the total Mineral Resource quantity to 4,415Mt. The Fold Zone has been confirmed as a shallow, higher-grade resource, with potential for early feed source for the project. The company plans to initiate a more extensive infill drill program to increase Measured & Indicated Mineral Resources and extend the projected mine life. The current Exploration Target is 5-18 billion tonnes, in addition to the Measured, Indicated and Inferred JORC 2012 Mineral Resource estimate of 4.415 billion tonnes.

Executive Commentary on Resource Update

The company is pleased to announce the completion of the drilling program and resource update, which has resulted in a significant increase in the total Mineral Resource quantity. The confirmation of a shallow, higher-grade resource in the Fold Zone is particularly promising, as it presents the potential for an early feed source for the project. We are now focused on initiating a more extensive infill drill program to further enhance the Measured & Indicated Mineral Resources and extend the projected mine life. The current Exploration Target of 5-18 billion tonnes demonstrates the substantial potential of the project, and we are committed to maximizing its value through strategic exploration and development efforts.

Summary of Resource Update and Future Plans

Hawsons Iron Ltd (HIO) has completed a drilling program and resource update, leading to a 12.5% increase in the total Mineral Resource quantity. The confirmation of a shallow, higher-grade resource in the Fold Zone provides an early feed source potential for the project. The company's current Exploration Target of 5-18 billion tonnes, in addition to the Measured, Indicated and Inferred JORC 2012 Mineral Resource estimate of 4.415 billion tonnes, underscores the significant growth prospects. With plans to initiate an extensive infill drill program and a larger mining lease application area granted, the company is poised to further enhance its Mineral Resources and extend the projected mine life. The Hawsons Iron Project's potential to produce the world's highest-grade iron product (70% Fe) positions it as a key player in the iron ore industry, and the comprehensive update presentation in the coming weeks will provide stakeholders with further insights into the project's development and future prospects.