Brisbane, Australia, The Directors of Carpentaria Exploration Limited (ASX:CAP) announced that the Davis Tube Recovery and assay results from the recent drilling at the Hawsons Iron Project confirm a significant magnetite-iron discovery, with potential to be the largest iron project in NSW. Executive Chairman Nick Sheard stated this anomaly will have very large magnetite mineralisation tonnage potential of 100 - 115 million tonnes at 20 - 21% DTR with a DTRG of 69 - 71% Fe and 415 - 480 million tonnes at 18 - 19% DTR with a DTRG of 69 - 71% Fe. Babcock & Brown Power (ASX:BBP) are in a trading halt pending the disclosure of matters likely to have a material impact on the company.