Maybe its worth having a closer read of some of the contents from the June quarterly:
"Current Exploration
During the reporting period the Company has started on its Reverse Circulation (RC) drill programme at the Wilcherry hill Project. This drilling will test numerous Lead-Zinc- Silver targets as part of a $8.5M Joint Venture with Zinifex Limited (ASX: ZFX), these targets currently include:
• Telephone Dam – best intersection of 6m @ 8.9% Pb & 6.4%Zn from 279m
• Stuart – 4m @ 15.2% Pb from 24m bottom of hole (including 1m @ 21.3% Pb)during earlier reconnaissance drilling.
Further to the RC drill programme, targeted to define and extend the exceptional results above, an electrical geophysical orientation line has been conducted on each of the prospects.
This electrical geophysical survey included both Induced Polarisation (IP) and Electromagnetic (EM) methods and the results of these orientation lines are currently being evaluated.
As part of the same drill programme Trafford has finalised plans for a deep, approximately 400 metre, Reverse Circulation (RC) and diamond core drill programme at its Mawson iron oxidecopper-gold-uranium (IOCGU) target in the Wilcherry Hill Project.
As previously reported, this target was identified by a detailed gravity survey which delineated a large (approx 2 km long by 1 km wide) residual gravity anomaly of 0.8 mGals immediately to the west, and offset from, the main magnetic feature at its Mawson Prospect. The Company believes that the anomaly represents a first class iron oxide-copper-gold-uranium (IOCGU) exploration target.
At the time of reporting a total of 16 RC holes have been completed for 2,955 metres, assay results from this drilling are still awaited.
Joint Venture partner IronClad Mining Ltd has continued its exploration activity within the reporting period, specifically at the Ultima East and Weednanna North prospects using Reverse Circulation (RC) drilling to assist in the definition of potential magnetite iron oxide resources."
TRF Price at posting:
0.0¢ Sentiment: None Disclosure: Held
