ASX RELEASE DRILLING RESULTS FOR STAGE 1 DEVELOPMENT During June 2005 Murchison Metals Ltd (“Company”) completed the first phase of drilling at the Jack Hills Project. Drilling achieved 5,445 metres advance in 58 drill-holes covering all planned targets. Results of all samples submitted during the drill programme have been received. Analysis of the results indicates that some additional samples will need to be collected to ensure margins of the mineralisation have been adequately defined. There is a possibility that reported intersection widths may increase with further sampling. The results from drill holes MHRC001 to MHRC026 have been previously reported. Results for drill holes MHRC027 to MHRC058 are tabulated below. All reported results are from Targets 2, 3 and 4. Due to drilling conditions several drill-holes terminated in mineralisation and these have been marked with an “*” in the accompanying tables. Significant intersections from recent drilling include: MHRC028 14m @ 63.0 %Fe MHRC033 24m @ 61.2 %Fe* MHRC034 26m @ 64.9 %Fe MHRC039 50m @ 65.6 %Fe MHRC040 52m @ 63.8 %Fe MHRC043 26m @ 62.4 %Fe MHRC045 26m @ 63.8 %Fe MHRC049 24m @ 65.1 %Fe MHRC052 22m @ 65.3 %Fe* MHRC055 22m @ 64.2 %Fe* Note “*” = Drill hole terminated before planned depth. Details of complete drill-hole locations and intersections follow. 2 All samples have been collected from Reverse Circulation drilling using a face sampling hammer. Samples for analysis have been collected as a two metre composite and submitted to Ultra Trace laboratories for preparation and analysis. Sample preparation consisted of crushing the entire sample of 6kg to -3mm, splitting to 3kg, pulverising a selection of 300+ grams from which the material for the XRF fusion disc is selected. The analysis is completed using X-Ray Fluorescence Spectrometry. The drill collar positions have been surveyed by MHR Surveyors. Mt Hale Drilling Summary – MHRC027 – MHRC058 Hole Depth From To Width % Fe m m m m MHRC027 60 24 36 12 61.4 MHRC028 50 24 28 4 53.1 34 48 14 63.0 MHRC029 100 82 86 4 58.7 MHRC030* 140 10 34 24 57.9 64 68 4 60.9 134 140 6 59.3 MHRC031 80 18 54 36 58.3 Including 30 40 10 60.5 Including 46 54 8 61.4 64 72 8 58.8 MHRC032 102 22 42 20 59.9 MHRC033* 40 16 40 24 61.2 MHRC034 100 0 2 2 61.2 40 66 26 64.9 MHRC035 131 26 32 6 52.3 36 44 8 51.9 MHRC036 90 No Significant Intersection MHRC037 100 2 8 6 56.4 76 88 12 59.0 Including 78 86 8 60.8 MHRC038 122 4 12 8 57.2 32 38 6 62.7 76 80 4 61.5 MHRC039 150 8 58 50 65.6 112 116 4 54.9 MHRC040 90 6 58 52 63.8 MHRC041 110 No Significant Intersection MHRC042* 80 56 72 16 59.9 76 80 4 61.5 MHRC043 120 80 106 26 62.4 MHRC044 120 22 28 6 59.8 MHRC045 130 2 10 8 50.9 30 56 26 63.8 MHRC046 120 86 90 4 57.4 MHRC047 130 No Significant Intersection MHRC048 90 58 62 4 66.3 74 82 8 64.3 MHRC049 70 28 52 24 65.1 MHRC050 80 No Significant Intersection C:\COMPANY SHARE\MURCHISON METALS\17 COMPANY SECRETARIAL\02 ASX ANNOUNCEMENTS\MMX ASX ANNOUNCEMENT #17 - DRILLING RESULTS FOR STAGE 1 DEVELOPMENT.DOC 3 MHRC051 100 58 60 2 65.3 MHRC052* 60 28 50 22 65.3 50 58 8 To be Sampled 58 60 2 65.31 MHRC053 100 No Significant Intersection MHRC054 130 No Significant Intersection MHRC055* 70 48 70 22 64.2 MHRC056 100 No Significant Intersection MHRC057 126 No Significant Intersection MHRC058 129 No Significant Intersection Note * = Drill hole ended in mineralisation. Yours sincerely ROB VAGNONI MANAGING DIRECTOR MURCHISON METALS LTD The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Bernhard Neehoff, who is a Member of The Australasian Institute of Mining and Metallurgy. Bernhard Neehoff is employed by Neehoff Geological Services Pty Ltd. Bernhard Neehoff has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Bernhard Neehoff consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
wrxsti
MMX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held