The Company is delighted to announce that after a process extending for almost 7 months, every administrative hurdle has been cleared and a 125 hole RC drilling program is fully permitted to test high grade hematite outcrops in the Miss Fairbairn Hills area at the wholly owned Earaheedy project. A total of 8 of the 23 hills of known +57% Fe outcrop will be tested in this first significant drill program, with commencement anticipated in around 3 WEEKS TIME.
Giralia's 100% owned tenements cover 130 strike kilometres of the most iron-ore prospective areas defined by past exploration work in the late 1970s, principally by Amax Exploration (Australia) Inc. ("Amax"), which resulted in the location of widespread areas of hematite enrichment with surface grades up to 66% Fe. A small program of shallow drilling by Amax returned intersections of 22 metres @ 56.5% Fe including 14 metres @ 59.3% Fe, and 4 metres (to end of hole) @ 60.4% Fe wholly within Giralia's current tenements.
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Enough said
GIR Price at posting:
$1.44 Sentiment: LT Buy Disclosure: Held
