“This conservative initial resource covers only a portion of the potential Marra Mamba iron ore mineralisation at Western Creek, supporting the Company’s ultimate exploration target* of 50 to 100 million tonnes for our wholly owned tenement area. We are confident of increasing this current resource with further drilling of open ended zones. Importantly the bulk of the resource is very close to surface, and the Western Creek deposit is located only 15 kilometres from the railway and train loading facilities at Newman. Completing a preliminary Mineral Resource estimate was a priority for the Company, and a necessary first step to allow us to progress discussions on access to infrastructure and development.”
The Directors of Giralia Resources NL ("Giralia") are pleased to announce an initial Inferred Mineral Resource for the Company’s 100% owned Western Creek project, located 15 kilometres west of the town of Newman in the Pilbara Region of Western Australia.
Further exploration and resource drilling is planned at Western Creek in August 2008, including step out drilling along strike of the northern and southern Marra Mamba zones, which remain open ended beyond resource models.
Yes, great intital JORC Grace. I wonder if they will take if forward alone, or be approaching BHP for farm in? I think BHP option.Initial jorc of Western Ck of 30 million tonne at 57.6%Fe. Not a bad start! Only 50% drilled, and open at ends. Location of Western Ck is pretty good too!
Yes, great intital JORC Grace. I wonder if they will take if forward alone, or be approaching BHP for farm in? I think BHP option.
IOH's announcement securing mine gate sales with RIO, suggest the big players are looking at even small ways of increasing sales of iron ore (that project is only 1 mtpa).
BHP says they will take mine gate sales, so Western Ck could get early sales there, but some form of railway agreement would be the best option for longer term security for the project.
Might hear in a few days about what the Government is going to do about the big player monopoly in the Pilbara.
The Company significantly increased the resource inventory at its wholly owned iron ore projects, with substantial ongoing resource growth drilling planned;
• Western Creek Iron Ore Project: Giralia reported an initial resource estimate of 29.4 million tonnes @ 57.6% Fe at its 100% owned Western Creek project, following completion of a further 36 RC drillholes during the quarter. This is a significant discovery of near surface Marra Mamba iron ore only 15 kilometres west of BHP’s rail facilities at Newman in WA's Pilbara. The Company continues to favour a mine gate sale arrangement with BHP as its preferred development option.
• Beebyn Iron Ore Project: Drilling to extend the initial JORC hematite resource of 7.2 million tonnes @ 57.2% Fe at the Company's 100% owned Beebyn-Weld Range and test the nearby Beebynganna Hills discovery in WA's Mid West is due to commence in early August, following completion of all permitting, including flora and heritage surveys, and earthmoving for access. Detailed gravity geophysical surveys were completed at Beebynganna Hills.
• McPhee Creek Iron Ore Project: A 43 hole resource drilling program was completed, testing the Crescent Moon channel iron deposit ("CID") at Giralia's 100% owned McPhee Creek iron ore project in the Pilbara region of WA, resulting in an initial resource estimate of 5.2 million tonnes @ 53.6% Fe (60.4% CaFe). Drill intersections include 12 metres @ 56.1 % Fe, 10 metres @ 57.2% Fe, 14 metres @ 55.9% Fe, with mineralisation commencing at surface.
• Earaheedy Iron Ore Project: Permitting is progressing well for a planned 100 hole RC drilling program to test high grade outcrops of hematite iron ore. Ground flora surveys were completed in mid July, and heritage surveys are in progress. Ground gravity geophysical surveys have commenced. Additional rock samples have extended the areas of known high grade iron at surface.
Couldn't help but dive into this one today at .30c
Good solid earnings and debt free...
Has to be some value here.
i didnt know they were earniong anything i must have msised that
Can you please expand on it? I thought they just had a sh1teload of exploration projects happening
Does that EPS come from selling of tenemants? Or do they have an actual operating mine or something else producing constant cashflow?
I'm going to assume from here that .30 is a floor and reevaluate if broken. Will add some on (if) break up.I have these on my watchlist. Huge support at 30c, even a bit of swing trading of buy at 30c sell at 33 - 35c would work, and sell on break down of 30c.
Or buy now and hold?
Yes, as it should be. Being a right turkey the past few months! 'But the times they are a changing!' Is that a song?I'm glad someone else has joined me here, the thread has been so quiet of late.
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