strange, page-2

There was a lift in both shares and oppies for an hour or so but this ann was really little more than what the market already knew. The high grade intercept announced today will need to be repeated to confirm the new mineralisaton as a likely resource.

Interestingly, the 61.9% iron assay announced today means that the magnetite ore was 85% pure. Most Australian iron ore contains the mineral haematite and this type of ore would need to be 88.7% pure to contain the same amount of iron.

What excites me most about this prospect is its polymetallic potential. The ore contains valuable tin copper and tungsten credits as well as iron. Metallurgical studies will be needed to determine the ease of separation but there is a good chance the processing will be straightforward. (Disclaimer: my field is Geology not Metallurgy.)