Trudy, HLX use 54% as their cut-off grade to reporting.If you...

Trudy, HLX use 54% as their cut-off grade to reporting.
If you look a bit further you'll see their results are all > 54% (for the JORC focus Yalleen)

This from their quarterly

"Helix has assessed the Yalleen Iron Ore Project to have the potential to host a series of significant iron ore
deposits over an area in excess of 25km², with the most advanced drilled target [Kumina Creek] having the
potential for in excess of 100Mt of CID at grades of between 57 and 60%".

and

"At Yalleen, API exploration throughout 2005 and 2006 concentrated on assessing the buried channel iron
deposits (CID) potential within the ancient Fortescue Valley area, focusing on targets identified from a HoistEM
survey that has been useful in identifying palaeochannels. A program of barber and diamond drilling completed at
the 1st target - Kumina Creek - in December 2006 successfully identified a buried CID over 2,700m by 900m and
up to 30 metres thick grading up to 60% Fe".

Plus my favourite

"Helix has reviewed the available data and outlined a combination of targets with collectively, a surface area
totalling in excess of 25km². Based on the drilling on the Kumina Creek and Robe Exit prospects, and after
reviewing the remaining untested target areas, it is Helix’s assessment that the Yalleen Iron Ore Project has the
potential to host an Exploration Target* in the order of several hundred million tonnes, with the most advanced
drilled target [Kumina Creek] having the potential for in excess of 100Mt of CID at grades of between 57% and
60% Fe. In assessing the exploration target Helix has assumed an average density of 3 and an average
intersection width of 15m."

Plus

"-1st objective to define initial resource in Stage 1 sufficient to support 10-20 Mtpa operation over minimum 10
year mine life
-FOB costs likely to be USD 20-25/t
-Pre-Feasibility study due out 3rd quarter 2007"

and don't forget the gold

"LAKE EVERARD (INCL. TUNKILLIA) PROJECT – SOUTH AUSTRALIA
Helix Resources Limited 100%, Minotaur Exploration Limited earning 51%
Toro Energy Limited earning 51% of Uranium Rights
EL 3403, EL 2854 and EL 3335
GOLD
Joint venture partner and project manager, Minotaur Exploration Ltd, has released a new resource calculation for
the Area 223 Prospect at Tunkillia in May 2007. Full details of the new resource estimation and methods were
released by Minotaur during the quarter.
In summary. the resource consists of a mineralisation inventory of 800,000oz gold and 1,600,000oz silver to a
depth of 200m below surface."

Cheers

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