FFR - Firefly Resources

[adobee]

Re: BMY - Brumby Resources

at this rate i might have to sell the bmw.. unbelievable this must be the only bit of land in the area with no iron ore...

well we will have to sit and wait for goldsworthy..
I will retain my options ( i dont really have much choice but too at the current level !)

 

[Tukker]

Re: BMY - Brumby Resources

Kennas with drilling underway at BMY doubt we'll see the lows in this again,

In fact would be very surprised to see this below 10c

Ouch! One bad result and the house caves in. I unloaded on monday at 16 cents for personal reasons, can't believe how lucky i got. Hang in there. They can still pull other stuff out the ground.

 

[rob]

Re: BMY - Brumby Resources

at this rate i might have to sell the bmw.. unbelievable this must be the only bit of land in the area with no iron ore...

well we will have to sit and wait for goldsworthy..
I will retain my options ( i dont really have much choice but too at the current level !)

adobee, whens the next drilling going to commence cheers, absorlutely gutted after holding them through last year and now this, so unlucky i gues.

 

[YOUNG_TRADER]

Re: BMY - Brumby Resources

I can't believe they would suspend the drilling program after just one failed hole? Sounds suss to me

Also its not like a company drills one hole then assays it then drills another hole then assays it, they drill all their holes and then send the cores off for assaying

So how then did Brumby manage to get the results for just one drill hole?

I just don't buy it

Mkt Cap is still tiny and the company has so much ground, it just means more time

 

[chrissyoscar]

Re: BMY - Brumby Resources

I also thought it was rather strange to stop drilling after just one hole.
Also wasn't there two targets?
Drill them both and see what's there not just one hole on one target then pack up and go home.
They need to explain things a little better than that we share holders need to know the reasoning behind their decision.

 

[jancha]

Re: BMY - Brumby Resources

Hi YT
Good point. What would the cost be for drilling the second target area planned? Could it be that BMY have little finances & are trying to limit their spending by not drilling on the 2nd target? Anyway I think Share holders deserve a better explaination after waiting so long on this project as to why & having said that we probably wont hear anything for another couple months! It certainly is a waiting game.

 

[adobee]

Re: BMY - Brumby Resources

I have never seen anyone dig one hole and say thats it pack up let get out of here.. From todays announcement you would think they started digging and found a nuclear waste dump and said lets get the f out of here..

This is the previous Announcement prior to digging 130m deep holes for farmers...

DRILLING COMMENCED AT PARDOO EAST IRON ORE PROJECT
ANNOUNCEMENT 24 JUNE 2009
● Drilling at Brumby’s Pardoo East Iron Ore Project has commenced to test a 5 km long x 0.4 km wide gravity anomaly.
● The Project is located approximately 110 kilometres east of Port Hedland and within established Pilbara coastal infrastructure.
Brumby Resources Limited (Brumby) (ASX: BMY) is pleased to announce that initial first pass drilling has commenced at it’s DSO iron ore exploration targets on its 100%-owned Pardoo East Project in
the Pilbara region of Western Australia.
The Pardoo East Project is located within Brumby’s Exploration Licences EL 45/2557 and EL 45/2558, which cover a total area of 200km² and are located some 110km east of Port Hedland. The
Project is one of three iron ore projects located within Brumby’s large coastal tenement holdings. The tenements are in close proximity to Atlas Iron’s Pardoo Project and BHPB’s mined out Goldsworthy
mine. (see Figure 1). A detailed ground gravity survey was carried out by Brumby over the Pardoo East aeromagnetic anomaly during 2007. Seven gravity targets associated with the aeromagnetic targets were delineated. Two priority gravity targets (see Figure 2) were identified by Brumby. The main target (Target 1), which is the subject of this initial first pass drilling programme is 5 kilometres in length and 0.4 kilometres wide. Geophysical modeling of the data indicates that the top of the gravity target is approximately 40-60m beneath the surface sand cover. No previous drilling has been carried out on any of the aeromagnetic or gravity targets.
Regional geological and geophysical interpretation of the Brumby data indicated that Brumby’s Pardoo East Project is likely to be hosted within the regionally important Nimingarra Iron Formation. This Formation hosts BHP Billiton’s operating Yarri hematite mine, the Atlas Pardoo DSO operation
and the Atlas 2Bt Ridley magnetite project, and the mined out Goldsworthy, Shay Gap and Nimingarra hematite deposits. Drilling is scheduled over the next two to three week period with assay results expected within a month of drilling completion.

Assay results expected within a month of two to three weeks of driiling from the 24th June ?? This is the only company who gets these back quicker than planned.. Seriously, one hole and the lets get the fk out of here... Nothing in that first hole .. then our whole 200km in Pardoo must have nothing.. lets go now.. UNBELIEVABLE..

 

[jonojpsg]

Re: BMY - Brumby Resources

Yeah, emailed the co this arvo to see whether I could get any sort of cogent response...will let you all know (if you aren't already doing it yourselves!)

 

[dandyjac]

Re: BMY - Brumby Resources

Yeah pretty bloody ordinary drill one whole over a target of 5000 mt long 400 mt wide & decide there is no iron ore, so lets pack up & go home GREAT what if they happen to drill through a seperated fault line in the target, they will never know after one hole not to mention what was the magnetic survey showing anyway ( what did they find apart from water )
share price took a great dive into the abyss

 

[adobee]

Re: BMY - Brumby Resources

The magnetic survey showed some old trucks and other sht BHP had dropped down the holes they dug ten years prior and had found nothing in..

 

[jancha]

Re: BMY - Brumby Resources

Hi Adobee,
Was that BMYs explaination to packing up tools & does that mean there's 5ks X .4ks of junk dumped by BHP?

 

[YOUNG_TRADER]

Re: BMY - Brumby Resources

The magnetic survey showed some old trucks and other sht BHP had dropped down the holes they dug ten years prior and had found nothing in..

lol maybe they found Warlocks and Gremlins who promptly ate the drilling crew and so to avoid a huge compensation pay out they just ran from the area????


On a serious note there is no way they got assay's back, I still think something else has to be afoot

 

[Sean K]

Re: BMY - Brumby Resources

LOL

And yes, on the serious note, the company should answer questions posed to them. If they don't, then go higher.

There's something off here.

 

[happytown]

Re: BMY - Brumby Resources

...

On a serious note there is no way they got assay's back, I still think something else has to be afoot

may very well be the case re afoot

however you don't always need assay results to know you have hit your drilling target, or in the case of dso Fe if you have not hit the drilling target

recent rig experience (diamond core, massive nickel sulphides), you could see it visibly in the core, the geo's came out to the rig at least once a day to check the core and an experienced driller can 'feel the ground' and know what they are drilling through (not specifically nickel @ 4% though)

don't know what rigs they used, possibly rc in which case you would have hundreds of bags in front of you to eyeball

dso hematite is at least 57% Fe, a distinct colour, etc

130m rc may only take a day or less to punch through, diamond longer

the benefit of assays lie in the results, X%Fe, X%Sio2, X%Al2O3, X%P, etc

4% Ni was visible in the core, 57% Fe should be similarly visible in core or bags to experienced geo's, drillers

cheers

 

[vine]

Re: BMY - Brumby Resources

I contacted Brumby re: why only one hole being drilled , attached is the reply.




"The holes were sited within the targets based on the strongest mag/gravity response. The interpretation indicated that potential DSO would be located between 40-60m below surface. Given the uniformity of the anomalies the fact that the first hole did not encounter basement material until 130m depth and no DSO was intersected in any part of the hole, we determined it was best to halt the programme and review the geophysical interpretation with our consultants. Other holes we not considered necessary as the geophysical interpretation indicated potential DSO would be encountered at depth 40-60m across the target area and as such the fact that it was not the case in the first hole and the interpretation was consistent across the anomaly, it will not be exepcted to be in any other holes."

Regards

Administration


BRUMBY RESOURCES LIMITED
Unit 3
49 Ord Street
West Perth WA 6005

PO Box 231
West Perth WA 6872

Phone: + 61 8 9486 8333
Facsimile: + 61 8 9322 5123

Email: admin@brumbyresources.com.au
Website: www.brumbyresources.com.au

 

[LeeTV]

Re: BMY - Brumby Resources

I contacted Brumby re: why only one hole being drilled , attached is the reply.




"The holes were sited within the targets based on the strongest mag/gravity response. The interpretation indicated that potential DSO would be located between 40-60m below surface. Given the uniformity of the anomalies the fact that the first hole did not encounter basement material until 130m depth and no DSO was intersected in any part of the hole, we determined it was best to halt the programme and review the geophysical interpretation with our consultants. Other holes we not considered necessary as the geophysical interpretation indicated potential DSO would be encountered at depth 40-60m across the target area and as such the fact that it was not the case in the first hole and the interpretation was consistent across the anomaly, it will not be exepcted to be in any other holes."

Regards

Administration


BRUMBY RESOURCES LIMITED
Unit 3
49 Ord Street
West Perth WA 6005

PO Box 231
West Perth WA 6872

Phone: + 61 8 9486 8333
Facsimile: + 61 8 9322 5123

Email: admin@brumbyresources.com.au
Website: www.brumbyresources.com.au

I received the same email after contacting them. I have sent a follow up query as to if they intend on continuing to drill in the area after they review the geophysical interpretation with their consultants.

Took a punt and bought more today at these low prices.

 

[doogie_goes_off]

Re: BMY - Brumby Resources

The lesson to be learnt here:Never trust a gravity survey - look at magnetics first and then drill. Would have to double check whether they did magnetics ofcourse. A good analogy would be Proto resources - large gravity anomaly indicating nickel bearing rocks - drilled sandstones containing copper!

Seems like a case of misplaced confidence.

 

[doogie_goes_off]

Re: BMY - Brumby Resources

Happytown is right - if you drill high grade iron ore it stands out like the preverbial K9 testicles - if it aint there it aint there.

 

[jancha]

Re: BMY - Brumby Resources

I received the same email after contacting them. I have sent a follow up query as to if they intend on continuing to drill in the area after they review the geophysical interpretation with their consultants.

Did you get a response to that follow up query LeeTV? And if they feel there's no reason to continue with the drilling within Pardoo East what are they doing with there time now? Be nice to know what there future plans are rather than wait another 3 months before you hear anything. How often do they have to sent out a company report?

 

[spectrumchaser]

Re: BMY - Brumby Resources

Jancha ,
BMY announcement of 7th July with regard to future drilling.
Stated -"Batten creek manganese as soon as a drilling contractor is engaged"

Also advancing plans to drill Balla Yule magnetite/Vanadium project.


Holder of BMY shares