related news near wallal downs fe target

Have a read of this and have a look at the map in the announcement this morning on tenements near gondwana's Wallal downs tenement.......Brumby resources BMY at 1010hrs today......Gondwana's WD tenement appears to be adjacent to BMY E4/25775....not gda news but looks good for the continuation of haematite extending from atlas prospect through Brumby's Goldsworthy,Pardoo and Telagel prospects which are all parallel to the NW Coastal Highway. Good indirect news me thinks. FS

Extract.......

"IRON ORE RIGHTS SECURED AT GOLDSWORTHY
FOLLOWING POSITIVE DRILLING RESULT
• Agreement finalised to purchase 100% of the iron ore rights to the Goldsworthy
Project tenements, East Pilbara (WA).
• Independence Group NL to become Brumby’s largest shareholder (~11% stake) as a
result of this transaction.
• Brumby’s first RC drill hole intersects significant widths of iron ore mineralisation,
supporting historical results from Rio Tinto drilling.
• Best intersection of 30m @ 29% Fe from 96m with the hole ending in magnetite ore
(EOH).
• Two hematite-rich horizons also encountered.
Diversified explorer Brumby Resources Limited (ASX: BMY – “Brumby”) is pleased to advise that it
has completed an agreement with its joint venture partners, Independence Group NL (IGO) and
Western Australian Resources Limited (WAR), to purchase the iron ore rights to the Goldsworthy
Project, located approximately 70 kilometres east of Port Hedland in the world-class East Pilbara
Region of Western Australia (see Figure 1 attached).
The Goldsworthy Project comprises two granted Exploration Licences E45/2538 and E45/2539
covering an area of approximately 450km² and is located close to quality infrastructure including
major roads, rail lines and port facilities; complementing Brumby’s other large strategic land
holdings in the area including its nearby Pardoo East Iron Ore Project.
The acquisition – which will result in Independence Group becoming Brumby’s largest shareholder
with an 11% stake – follows encouraging results received from a first-pass Reverse Circulation
(RC) drilling programme completed by Brumby on the Goldsworthy Project.
Historic drilling in the Project area by Rio Tinto had delineated magnetite-bearing banded iron
formation and ultramafic rock. Two of the Rio Tinto holes intercepted multiple widths of magnetite
mineralisation, returning 54m @ 29.1% Fe from 76m and 64m @ 29.7% Fe from 142m in hole
97DG006, and 134m @ 24.7% Fe from 36m and 27m @ 32% Fe from 208m to 235m (EOH) in
hole 97DG003 (see Figure 2 attached).
The intersections received from Brumby’s recent drilling – which was targeting a prominent ground
magnetic-ground gravity anomaly and following up an anomalous platinum-copper-gold
intersection – have continued to enhance the potential of the Goldsworthy tenements for iron ore
mineralization.".....end of extract.see announcement for full details and map.