MFE 0.00% 1.0¢ magnetite mines limited

resources, page-6

  1. 2,038 Posts.
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    Looking at figure 2 and 3, and trying to work out what it means.

    the best hits are close to the border with GBG tenement. The cross section shows that hole 2 probably stopped out in very high grade stuff - it has 20 or 30m to go?

    hole 10 is also pretty high grade, down the other end of the strike, and stops out with more to go.

    GBG not wanting to put a value to it, but they like it - and why wouldnt they? Any DSO is good DSO. They will want to get their DSO projects off the ground first due to low capital cost to give them cashflow to fund their mega magnetite project.

    WE ARE STILL WAITING ON GAP and LISTER! These assays are to come, and the assays from Shine show that they are looking in the right places. GAP and LISTER could double the JV resource, given the strike lengths of both combined.

    GBG plans to start shipping DSO mid 2008....
 
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