Galvanising Brumby Glencore’s coal chief Peter Freyberg took one...

Galvanising Brumby
Glencore’s coal chief Peter
Freyberg took one for the team
yesterday at the Melbourne
Mining Club.
After reminding the 600 mining
types in attendance that Glencore’s
trading activities give it
unrivalled commodity market intelligence,
Freyberg offered up
that it was copper, nickel and zinc
that had price upside because of
their looming supply deficit issues.
No coal there. Doesn’t matter
as today’s interest is zinc, and the
creation of a new and advanced
explorer for the galvanising
material, Brumby Resources
(BMY). It has just got interesting
in the zinc space courtesy of its
acquisition of the privately held
Marindi Metals.
The acquisition delivers what is
now called the Newman zinc project,
60km southwest of Newman
in the Pilbara. It comes with an
existing resource (3 million tonnes
at 4.9 per cent zinc). But more to
the point is that the project area
covers numerous base metal
occurrences, the hope being that
with some drilling, a 20 million
tonne resource can be proved up
in quick fashion.
At the Wolf prospect, just along
from the known Prairie resource,
some 100m-plus intersections of
zinc-lead mineralisation, including
some high-grade zones, have
been returned. Brumby/Marindi
will be targeting that zone, as well
as extensions and other opportunities
along a 24km long strike
length of the Prairie Downs fault
zone, which it believes is “highly
prospective for large-scale base
metal deposits”.
Brumby last traded at 1.6c a
share.
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05 Jun 2015
The Australian, Australia
Author: Barry FitzGerald • Section: Business News • Article type : News Item
Audience : 104,774 • Page: 31 • Printed Size: 91.00cm² • Market: National
Country: Australia • ASR: AUD 1,839 • Words: 234 • Item ID: 416556181
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