Watso or anyone else, what are your thoughts on Fatsocks post re...

Watso or anyone else, what are your thoughts on Fatsocks post re AGO and proximity to GDA (fatsocks hope you dont mind cut n paste)
GDA has jumped 66% in a few weeks

ago just announced this morning the iron ore results from the abydos tenements ( which are just north west of gondwana's)
31st December 2008
NEW HEMATITE DISCOVERIES AT THE ABYDOS DSO PROJECT
Atlas Iron Limited (ASX Code: AGO) is pleased to announce the discovery of four additional outcropping direct
shipping iron ore (DSO) deposits at its 100%-owned Abydos DSO project, located 120 kilometres South-South
East of Port Hedland in the Pilbara of Western Australia. Better results include:
Leighton
102 metres at 59.9 % Fe 0.07% P, 2.81% SiO2 and 1.85% Al2O3 from surface in ABRC699
72 metres at 59.8% Fe 0.11% P, 4.20% SiO2and 1.83% Al2O3 from surface in ABRC852
44 metres at 58.8% Fe 0.05% P, 3.97% SiO2and 2.26% Al2O3 from surface in ABRC851
30 metres at 59.4% Fe 0.01% P, 3.34% SiO2and 2.40% Al2O3 from surface in ABRC677
28 metres at 59.2% Fe 0.02% P, 3.87% SiO2and 1.81% Al2O3 from surface in ABRC856
Sandtrax
54 metres at 58.5% Fe 0.06% P, 3.13% SiO2 and 2.13% Al2O3 from 2 metres in ABRC639
42 metres at 58.8% Fe 0.02% P, 4.94% SiO2and 1.21% Al2O3 from surface in ABRC649
36 metres at 57.6% Fe 0.04% P, 4.92% SiO2and 2.30% Al2O3 from surface in ABRC637
28 metres at 57.2% Fe 0.03% P, 5.44% SiO2and 2.67% Al2O3 from surface in ABRC642
Cove
28 metres at 58.5% Fe 0.03% P, 6.68% SiO2 and 2.41% Al2O3 from surface in ABRC778
26 metres at 60.4% Fe 0.03% P, 4.60% SiO2 and 2.47% Al2O3 from 12 metres in ABRC781
20 metres at 57.4% Fe 0.03% P, 7.84% SiO2 and 1.82% Al2O3 from surface in ABRC767
“The north Pilbara is an enormously prospective and vastly under explored iron ore province. Being passed
over in favour of the central Pilbara for the past 30 years has left the province almost entirely untested by
drilling.” commented David Flanagan, Atlas Iron’s Managing Director.
“Excellent results like these from first pass drilling, adjacent to road and rail (FMG and BHPB), 120 kilometres
from the world’s largest multi-user iron ore port are likely to deliver resource growth and a good basis from
which to build a significant new iron ore company.”
Since reporting the positive Prefeasibility Study in July 2008, Atlas has focused its Abydos drilling efforts on
achieving three key objectives: 1. Growth in resources; 2. Growth in reserves; and 3. Extensions to mine life.
Early indications are that this drilling will achieve all three objectives and strongly enhance project economics.
To date 120 holes for 5,272 metres have been drilled across four deposits. Results returned for 90 holes
indicate strong potential for highly saleable ore with excellent iron grades and low levels of contaminants.
Results from the balance of the holes are due from the assay lab during January 2009 and are expected to
provide further information on deposit geometry and tonnage potential.
Atlas has previously reported an exploration target for the Greater Abydos region of 100 to 140 million tonnes
at 57 to 60% Fe. These new discoveries will further contribute to delivering on this exploration target. Atlas is
on target to report revised and new resources and reserves across these and all other projects in January
2009.

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Cheers Fatstocks,
[email protected]
Before acting on any of the information you read and making any financial or investment decisions, you should always consult your advisor(s) or other relevant professional experts. These comments are for discussion purposes only and are not advice or recommendations. Comments may have typographical and spell errors. Interests, MXR,GDA,MNM,FMS, MGR, MAH,FMG,SUN, WBC, plus a few others