miningnews report

Don't expect the mainstream papers to report drilling results of small miners like mmx. They are not interested. They still perceive mmx as an explorer that is exporting a tiny amount of ore. However, they see news value in FMG due to market performance despite no sales yet.

Also the mainstream newpaper reporters wouldn't understand the report unless someone does a press release that they can copy. So here goes:

Miningnews produced the following report:

"AS PART of its Stage 2 definition drilling program at the Jack Hills hematite project, Murchison Metals has released new drilling results showing further intersects of wide, high-grade lenses of massive iron ore, the company said.

New results from the Mid-West iron ore development included 18m at 63.6% iron from 18m, 48m at 65.8% iron from 66m, and 34.2m at 67.4% iron from 51m.

Murchison said the drilling program had hit zones of high-grade iron mineralisation, which have been intersected below areas of little or no iron ore outcrop, and beside already known lenses.

Two drillholes intersected these new areas and returned grades of 18m at 64.3% iron from 134m and 52m at 64.5% iron from 198m.

After all the data from the current drilling program has been analysed, Murchison said it intended to drill follow-up holes to identify the full extent of the new zone.

The hits and the new zones confirm the continuity of mineralisation at the project and its potential to host large tonnages of high-grade ore, the company added.

Mining at Jack Hills began in September last year, with its first shipment of ore leaving Geraldton port for China in February.

The company has a targeted production of 1.5 million tonnes per annum of iron ore from the project, expanding to 2Mtpa in 2008.

Shares in the company gained 3c in morning trade today to $3.08."

Keep an eye on the West Australian newspaper web site because their mining reporter often looks at the small players and his articles are sometimes followed up by the mainstream Eastern states papers. But if The West Australian doesn't report it then the Eastern papers sure won't.

I would expect more interest when mmx can identify the size of the ore body. Then they will get excited.

Further I have not seen any newspaper report about the Merrills analysis.

I expect mmx to open high on Monday morning. Enjoy the ride.