Code:TRH (Fully paid Ordinary Shares)THRO (25c Options exp...

Code:
TRH (Fully paid Ordinary Shares)
THRO (25c Options exp 31/12/09)
JOHNSTON RANGE IRON ORE
PROJECT DRILLING RESULTS
Assay results have been received from RC drilling
at Transit’s 100% owned Johnston Range Iron Ore
Project.
During January and February Transit completed its
inaugural campaign of RC drilling at the Muldoon,
Bolger and Lange prospects for a total of 37 holes
for 2,740m targeting sub-surface extensions of
high-grade outcrops of haematite/goethite
mineralisation.
The best results included;
- 7m at 60.6% Fe in TRC009 at Muldoon;
- 8m at 57.0% Fe in TRC007 at Muldoon;
- 15m at 55.0% Fe in TRC004 at Muldoon;and
- 10m at 57.8% Fe in TRC028 at Bolger.
Full results are presented in the table and figures
below.
Transit will now assess the results ahead of making
a decision on the next phase of exploration at
these Prospects. Transit will also assess the
potential of the previously identified Holyoake and
Rowling Haematite Prospects as well as the
significant remaining unexplored areas of Banded
Iron Formation within its tenements, in light of the
results from the drilling programme.
Furthermore, significant zones of magnetite
mineralisation were intercepted during the drilling
programme with a significant proportion of assays
grading between 30% and 50% Fe. Transit intends
to assess the potential of these high grade
magnetite results.
The Company is also continuing its project
generation programme to review opportunities
within Australia and overseas. This includes field
assessment of a number of areas with iron ore
potential within the Yilgarn Block.


Dissect can we see any positives ???

Magnetite Potential ;

Holyoake , Rowling Haemitite , Lange;

Significant Remaining Unexplored Areas BIF ,

Only probably need one to show promise to get back up there ,,

and theres off course Southern Cross Goldfields Ltd is focussed on gold and nickel exploration in the highly gold and nickel endowed central Yilgarn Craton region of Western Australia. Southern Cross Goldfields is the result of Polaris Metals NL demerging its gold and nickel assets together with acquiring other gold and nickel assets in the same geographical region.

800,000 Shares in IPO @ 20 cents ...

Still at $6 million Market Cap with $2 Million in the bank
a lot better off than a lot of other ASX listed companies... others thoughts welcome , appreciated as im only a measly dish washer...