Apologies. The perils of chat sites. I stole my post from Uranium Bull on Shares Scene.
DYOR. ***It appears drilling has not commenced.***
Quarterly report 30/4/07 states:
Kroombit Zn-Cu Deposit (Argonaut 100%) During the Quarter the Company progressed the approvals required to commence RC drilling at the Kroombit deposit. The drilling program will commence once final approvals have been granted by the Queensland Government.
This program is aimed at improving known intercepts and extending the resources laterally and at depth. The company believes that modern high-recovery drilling techniques combined with modern laboratory analysis are likely to improve the zinc and copper grades. After establishing a JORC compliant Mineral Resource the Company proposes to conduct a Preliminary Feasibility Study to consider the economics of an initial open pit operation and acquisition of a convention concentrating circuit to produce zinc and copper concentrates.
Power, road, rail and port facilities are all located within easy reach of the Kroombit deposit. Straits Resources Ltd holds a 2% Net Smelter Royalty interest in ML5631.
To protect extensions to the Kroombit deposit and other conceptual targets, the company applied for and was granted three Mineral Exploration Permits covering 663 square kilometres surrounding the Kroombit Mining Lease. Details applicable to these areas being: • EPM 15705, Mt Kroombit; • EPM 15733, Blue Hills; and • EPM 15734, Mt Lookerbie. This area includes prospective geological features and all available known zinc and copper mineral occurrences adjacent to the
ARE Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
