igo takes 11 percent stake in brumby

PRETTY BIG NEWS FOR A COMPANY OF BRUMBY'S SIZE,SAID NEWS

WAS ON THE WAY...WE WILL HEAR OF THE 2ND PHASE DRILL

REPORTS SOON...FRANCESS FURNESS PROJECT:THATS 4KMS SOUTH OF MARVEL LOCH..


The Frances Furness project area consists of two granted tenements and is located within the prolific (5 million ounces) gold bearing Southern Cross Archaean Greenstone belt.

The project is four kilometres south along strike of the operating Marvel Loch gold mine and exhibits similar geological, structural and mineralising features to Marvel Loch.

Historical mining of three high grade prospects (Frances Furness, Salvation) returned 24,452 ounces from 45,540 tonnes treated at an average grade of 16.7 g/t Au. Most recent exploration drilling has discovered two further high grade prospects called Eric’s and Frances Furness fault offset.

Further drilling programmes are required to establish and quantify the tonnage and grade potential of the historic and recently discovered high grade gold prospects located within the Frances Furness project area. Brumby Resources has entered into an Option Agreement to purchase 100% equity in the two tenements.

A drilling programme comprising 11 holes for 1,779 metres of reverse circulation drilling, targeting several historical high grade gold prospects located within the Frances Furness and Bohemia tenement was completed in February 2007.
The areas tested were the Eric North and Bohemia prospects, with the specific aim of assessing the extension of already defined gold mineralisation and to provide a better understanding of the geology and structural setting.

The Company is now in the process of evaluating a second drill programme for the tenements which is scheduled to commence during the first quarter of 2008.

HUGE GRADES HAVE BEEN ENCOUNTERED OF 274 g/t & 404 g/t...