all speculation .but without evidence of what drove this mad...

all speculation .

but without evidence of what drove this mad rush for the stock, this will continue.

This is and extract from the announcement(JV BHP),

The project has yet to gain approval from the traditional owners of the land with a meeting to take place on Monday. That is the 4th of december.

i found the following article of some sampling they carried out in 2005.

Sampling promise in Musgrave
Tuesday, 16 August 2005
Chris Cann

RECONNAISSANCE rock-chip sampling at the Independence Group-Goldsearch Musgrave joint venture in the Northern Territory has returned gold values up to 29.71 grams per tonne, prompting Independence to carry out further sampling to determine if the mineralisation continues along strike and under cover.



The rock-chip sampling followed up on previous soil sampling that delineated 13.75 parts per billion gold in wind blown sand on a 20sq.km grid.

The sampling discovered a "narrow semi-continuous quartz vein with high-grade gold values … within sheared granitoids and metasediments", according to Independence.

Other rock chip results include 13.07gpt gold and 052gpt gold. Anomalous bismuth grading 723ppm, copper grading 2402ppm, lead grading 7492ppm and silver grading 14.74gpt are "associated with gold mineralisation".

"Outcrop is limited over most of the soil anomaly, however, gold mineralisation discovered to date is associated with quartz veining occurring as semi-continuous outcrops trending north-west with a flat south-west dip," Independence said.

Infill and extension auger sampling on 50m by 50m spacing is planned to test for bedrock gold mineralisation below the sand cover.