Terrific announcement while we wait for the JORC (nb: new prospect @ telecom hill):
Highlights: - Highly successful geological mapping near Mt Padbury has delineated a number of new iron ore targets. - Potentially significant platy haematite-goethite mineralisation discovered with grades up to 63.2% Fe. - Haematite mineralisation has an exploration target1 potential of 20?28 million tonnes at 55?60% Fe. - Potential magnetite deposits also delineated add significant upside to those already discovered at Telecom Hill.
I particularly like this line:
"The haematitic mineralisation is well developed at surface and was observed to extend to at least 20m depth in an incised valley within the pod. The mineralisation is interpreted to be the result of hydrothermal or metasomatic alteration. This type of mineralisation is the optimum type to find since it is likely that it will extend to depth, rather than being only a surficial feature."
PDY Price at posting:
3.2¢ Sentiment: Buy Disclosure: Held
