G’day folks, new readers and old alike. Looks like we are still waiting on those much anticipated drill results from the Padbury Mining JV drill program. Also of significance is the pending results from the drilling program conducted by Sinosteel / Midwest in the Robinson Range region which hosts the Telecom Hill project. These drill programs are the first in this region to target iron ore, the results of which will no doubt be a defining moment for the region, the project, the related companies and even certain individuals. Definately exciting, if this is the sort of thing that floats your barge.
On todays menu is another comparion of size and scale, this time between Jack Hills (MMX/Crosslands) and Telecom Hill (Padbury Mining / Aurium Resources). Please refer to the announcement made by MMX on 03/09/09 http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00984718. In short MMX has defined 96MT DSO and 991MT BFO (34% and requires beneficiation). MMX published a target in that announcement of a further 400-1000MT to bring the total resource to approx 1.5-2.1BT including a DSO component. I have taken their map, which shows the boundary for this resource, and have presented it side by side, at the same scale, with the Telecom Hill and surrounding project area.
This time I have expanded on the Telecom Hill area slightly by adding the area that I believe the highest grades of rock chip samples came from. This should represent the most likely area to contain a DSO resource. If the 3 drill holes showing enriched BIF at 130M depth (150M angled) were from this area it would prove very encouraging if the grades were similar.
So, ponder that. I will stop short of actually giving any predictions of what size of resource the area may host as it does depend on a number of factors. Over the years a few close family members have heard my thoughts, along with one or two other people, but that is all. There are just too many limiting factors involved, from the contraints of the project geology to the decisions made by management, all of which have great potential to affect the bottom line your run of the mill lemming shareholder. So, I will warn you now, this is not advice, just food for thought.
Until next time…..
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Gotta kill the time for another 2 weeks or so somehow.
PDY Price at posting:
3.4¢ Sentiment: None Disclosure: Held
