re: aqd great times to come Great potential on this one IMHO......

re: aqd great times to come Great potential on this one IMHO... In on Tuesday after a bargain day :)

NAMELESS IRON PROJECT...... and RIO already settling prices with Japan and Korea...LOL

Prospective for channel iron deposits



Located 5km north west of Tom Price in the Pilbara region of WA
Targeting Channel Iron Deposits with low phosphorous
Owned 100% by AusQuest, subject to a Letter of Intent with Rio Tinto
Surface mapping has identified channel iron mineralisation with iron grades between 55 and 58% Fe over a 15 km strike length
The channel varies in width from 200 metres in the east and up to 500 metres over the majority of its strike length. In places detrital iron mineralisation occurs along the margins of the channel. Wood fragments identified within the pisolitic iron outcrops are diagnostic of channel or valley fill material and confirm correlations being made with the Robe Pisolite
A Heritage agreement has been signed with the Native Title claimants to facilitate grant of the tenement, which is expected in early 2006
Drilling is planned for 2006