AGO closed at $3.80 today , might have been driven by this ann from WRK (they bought that at a good time) :
ASX and Media Release 18 JUNE 2008 WARWICK TO BRING FORWARD DRILLING ON ITS LARGEST IRON ORE TARGET KEY POINTS • Drilling to commence at Woggaginna in late June 2008 • Woggaginna is Warwick’s largest iron ore exploration target identified to date • Resource drilling on other DSO projects is nearing completion – drilling results are expected to be available progressively from late June 2008 onwards Pilbara explorer, Warwick Resources Limited (ASX:WRK) today announced it will bring forward the scheduled drilling of its largest iron ore target at Woggaginna. The Woggaginna project is located 55km southeast of Newman and 35km south of BHP Billiton’s Jimblebar iron ore mine and railway in Western Australia’s Pilbara region. As announced last month, the Woggaginna project contains an extensive cluster of banded iron formations (BIFs) with corresponding zones of iron enrichment. Over 40 kilometres of cumulative strike length of BIF units have been identified from magnetics. Geological mapping and rock chip sampling has confirmed areas of strong iron enrichment totalling 250,000m2 associated with the BIF units, with grades typically between 57% and 63% Fe (see ASX announcement 18 May 2008 for full details). Significantly, only one third of the total extent of BIF units within the project area have been mapped and sampled to date. The opportunity to bring forward the drilling of Woggaginna has arisen due to better than expected drilling progress on the Company’s iron ore resource projects (Jimblebar Range, Jimblebar CID and Caramulla South). The Company is experiencing delays with assay turnaround due to the large volume of samples generated from its resource
AGO Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held