Still looking undervalued for its iron ore potential. Good Grades +100% ownership + infrastructure proposed alongside. (Not to mention GIR's excellent management, or the 25% u308 JV with Heathgate - or any of its other quality tenements).
""Headline News
Giralia to resume drilling iron ore project By RWE Australian Business News, 16 Oct 2007 Sydney - Tuesday - October 16: (RWE Australian Business News)
Giralia Resources (ASX:GIR) reports the recommencement of resource drilling at the company's 100pc-owned Beebyn-Weld Range iron ore project in WA's emerging Mid West iron ore province.
Giralia is exploring a 6 kms segment of the north-eastern Weld Range, immediately along strike from the Midwest Corporation and Sinosteel Corporation JV.
Midwest/Sinosteel recently announced a resource of 50.1m tonnes at 59.2pc Fe for its Beebyn segment of the Weld Range (within 2 kilometres of Giralia's tenements), and is proceeding with a Pre-Feasibility Study on mining at a minimum rate of 15m tonnes a year from Weld Range. Importantly, rail infrastructure is proposed right to Giralia's "doorstep".
Giralia has completed a total of 26 RC drill holes to date in its wholly owned segment of the Weld Range, and reported significant intersections of direct shipping hematite iron ore including 24m at 62.4pc Fe, 38m at 60.6pc and 30m at 60.3pc. "' end of copy
GIR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
