this is why it ran.

Nice to be an insider,

This explains the big rush just after lunch today,

Must be nice to work at ASIC .........


DJ INTERVIEW: Australia's Tasman Soars On Discovery Hope

By Ray Brindal
Of DOW JONES NEWSWIRES

CANBERRA (Dow Jones)--Shares in Australia's Tasman Resources NL (TAS.AU) soared
Tuesday on investor hopes the exploration minnow has drilled into a world-class
orebody, near WMC Resources Ltd.'s (WMR.AU) massive Olympic Dam
copper/gold/uranium mine.
Tasman shares opened trading at 10 Australian cents, and ran to 33 cents before
settling at 31 cents, up 22.7 cents on the day, pushed by small retail investors.
Volume of 57.4 million was almost 75% of Tasman's total issued shares of 77.9
million.
The rally occurred after Tasman reported that a first exploration hole at its
Marathon South prospect "may have located a new large iron-oxide system,
potentially mineralized and a relatively short distance from Olympic Dam," which
is 24 kilometers southwest.
The hole, in previously unexplored territory, features an overburden of 550
meters and is located on the margin of a complex geological feature measuring 6
by 4 kilometers, Tasman said.
"At this stage the grade and thickness of the mineralization isn't known, nor is
the overall economic significance of this result," Tasman's Executive Chairman
Gregory Solomon said in a statement.
Tasman tried to use a "conservative form of words" to describe its first
exploration hole, which is still drilling, he told Dow Jones Newswires in an
interview.
"What we've done is we have hit the style of mineralization, we have got the same
style of system" as Olympic Dam, and this is rare to find, he said.
"All of the characteristics that you see in the Olympic Dam system we are seeing
within our system," he said.
The rocks in Tasman's discovery are indistinguishable from what geologists expect
from within parts of the Olympic Dam orebody, he said.
Solomon said the critical path ahead for Tasman includes receiving assay results
from the first exploration hole, which he hopes to get before Christmas.
Olympic Dam has come sharply into focus recently with Swiss mining group Xstrata
PLC (XTA.LN) Monday unveiling a hostile A$6.35-a-share cash bid for WMC
Resources, which operates Olympic Dam and world-class nickel operations in
Western Australia.

-By Ray Brindal, Dow Jones Newswires