wouldnt be peeing money down the toilet

ROY & GBG wouldn't be peeing money down the toilet if they didn't think is was worth it.

IMO they'll establish a good JORC resource with an offtake agreement with GBG.

looks like an "early birds special" get set before results announced in due course ;))

BTW...looking forward too more news re: Uranium

DRILLING TO COMMENCE ON HEMATITE PROSPECTS
- WARRIEDAR JV
The Warriedar Joint Venture (“JV”) between Royal
Resources Limited (“Royal”) and Gindalbie Metals Limited
(“Gindalbie”) covers approximately 130 square kilometres
in the Midwest region of Western Australia. Gindalbie are
maintaining a 60% interest in the iron ore rights by the
expenditure of $1 million on exploration and drilling over
three (3) years. (See Midwest Iron Ore Project map).
All approvals have now been received from State
regulatory authorities and Gindalbie have advised Royal
that site clearance and the mobilisation of a drilling rig to
the northern prospect areas of Shine, Lister and Gap is
now underway. These three prospect areas were
discovered by Gindalbie early in 2007 through their
geological mapping and surface geochemical sampling.
(See prospect location map). The three prospects are all
located within the Windanning Banded Iron Formation and
in close proximity to the major north – south trending
Mougooderra Shear Zone. The Shine Prospect has been
described as “consisting of a single zone over 600
metres of strike with widths between 10-20 metres
thickening to a maximum of 30 metres”. Rock chip
samples have returned values up to a maximum of 65% Fe
with low contaminants.
None of the prospect areas have been drilled for iron ore
mineralisation to date. The initial drilling within the JV
tenements will comprise about 20 holes for an estimated
2000 metres of reverse circulation drilling. Drilling will be
carried out on a line spacing of 200 metres and 50 metre
hole spacing.
A fourth prospect area, the Hippo prospect, is located
approximately 20 kilometres to the south of the Lister
prospect. Approvals for the drilling of this area are
expected shortly. If available, an additional small program
will be completed following the Shine, Gap and Lister
programs.
ASX
ANNOUNCEMENT
2 October 2007
Royal Resources Limited
ABN 34 108 102 432
For further information
regarding Royal Resources
Limited contact:
Philip Crabb
Chairman
or
Brian Richardson
Director
Phone: + 61 8 9321 2152
Fax: + 61 8 9321 9670
Website:
www.royalresources.com.au
Email:
[email protected]
Registered Office:
Suite 2, Level 3, IBM Building
1060 Hay Street, West Perth
Western Australia 6005
Po Box 7363, Cloisters Square
Perth Western Australia 6850
Page 2
The four prospects areas have the potential to host hematite resources which would
strengthen Gindalbie’s iron ore resource inventory in the Midwest region. Gindalbie is
planning to commence mining and subsequent export of Direct Shipping Ore (“DSO”) in
mid 2008.
The details contained in this report that pertain to ore and mineralisation is based upon information compiled by Mr Brian Richardson, a
full-time employee of the Company. Mr Richardson is a Member of the Australasian Institute of Mining and Metallurgy (AUSIMM) and
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 December 2004 edition of the “Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore Reserves” (JORC Code). Mr Richardson consents to the inclusion in this
report of the matters based upon his information in the form and context in which it appears.