spi - new ground near prw's new ground

Interesting to note the relationship between Proto's announcement and SPI's announcement today about their NT projects.

Here is what they said:

During the Quarter, Spitfire applied for a new tenement located directly north of EL27/400, which contains the
northern part of a large magnetic anomaly extending from within the central part of the tenement where a
historically noted copper anomalous area occurs. Planning was undertaken during the Quarter for a field trip to be
conducted in August 2011 to identify target areas along this 30km magnetic anomaly for exploration drilling.
The Company has decided to relinquish tenements EL27/398, EL27/404 and half of EL/27/399 following
completion of a regional geological review. This will reduce expenditure commitments and enable Spitfire to focus
its resources and time on the more prospective parts of its ground holding.


I am assuming this new ground and the ground where the anomoly is would be right where Proto have applied for their new ground which follows the fault and borders the copper anomoly. This is at the other end to where the latest VTEM took place (to the south of LB and the West of the Wave Hill VTEM survey). If so, this is great because it means in August, they will be doing drilling around this area which will also add to Proto's knowledge.


Regards, Rob