Today's slump in price probably due partly to disappointment...

Today's slump in price probably due partly to disappointment that yesterday's ann. revealed drilling program was completed after only 2740 metres were drilled due to difficult ground conditions and initial reconnaissance nature of program, versus planned 4000 plus metres.

Note that this is still app. 68% of planned drilling now completed. The 37 holes drilled average 74 metres. Majority of metres (1,636) drilled in very prospective priority target Mulldoon, where recent field work extended the known area of high-grade mineralisation. 21 of 40 most recently announced rock-chips announced here returned assays of greater than 55% Fe., with highest assay 65.1%.

Selective drilling targeting these high grade targets, where accessable, and at these depths, have a strong probability of laying the foundation of a very exciting announcement in March, when results are expected.

Looks to me to be a very good opportunity to enter at discounted prices, which I,ve been waiting for.