exploration update, page-4

just another quick read through the report, and it seems that the company needs to drill about 6000m (20 lines at 300m per line - and 100m apart), to get a better idea of a prospect - ok, that is $600,000 worth of drilling etc etc - but that is only for drilling 100m apart. this would eventually need to be drilled a lot closer.

of course, the funds will have to be raised first - and then the company car has to be serviced, and of course all the admin costs etc etc - that will all be a long way down the track . and the company holds out the hope for some limited amount of work on the iron ore prospect towards the end of the year

if one looks at reports from last year, then the aim of the company was to target small footprint, high grade deposits , as previous exploration had been targeted towards larger deposits etc etc - and what is reported, is a deposit of 20,000 oz grading 2g / tonne.

the company needs another $2m to fund the dreams till the end of the year. plenty of issues on the way, to raise the funds - and then a consolidation

heh - and no mention of the iron ore at parker range