Hercules - Exploration

The exploration potential at Hercules is extremely large and consistent with major BIF deposits in the Middleback Ranges and Pilbara regions with a target potential of 1000-1500Mt.  Less than 25% of strike length of the prospect has been drill tested, typically to depths less than 200m, and subsequently current resources are only defined within that area.  This leaves a large scope for a resource increase with 75% of the area yet to be defined.  Deeper drill holes that did intersect carbonate hosted magnetite BIF are typically open at depth, with several drill holes suggesting thicknesses greater than 150m.

Additionally, the potential for high grade hematite and DSO grades is yet to be tested throughout the outcropping region. Gravity data for the Hercules area suggests potential for isolated DSO hematite zones, with assays taken from holes drilled to the south of the outcrop providing further evidence of this.

Exploration of the Hercules Project is ongoing and additional resources are expected to be defined in the near future as IronClad come into production.