GSR - Greenstone Resources

[Uncle Festivus]

http://www.barraresources.com.au/

ASX Code BAR
Company Name Barra Resources
Share Price 0.310
Shares 180 million
Market Cap $55m
Current Production 27 koz/year
Cash Cost 648 A$/oz

Our key project at Burbanks, Coolgardie, is a highlight and main focus as the Company moves successfully from junior explorer to gold producer in August 2006. The Company remains unhedged and looks forward to further likely exploration success. Burbanks has historically produced 366,000 ounces. Drilling in 2005 and 2006 has delivered an initial resource of 74,000 ounces with latest drilling confirming depth and strike extensions of Burbanks gold mineralisation. This resource is considered the first step in the establishment of a major mining operation at Burbanks.

Burbanks lease covers over 5kms of the Burbanks shear, the most significant gold producing structure in the Coolgardie Goldfield. The Ida fault is a major gold producing structure which runs for over 400kms from Coolgardie in the south to beyond Agnew in the north. Major deposits located on the trend include Davyhurst, Riverina, Mt.Ida, Emu andBellevue, all high grade deposits. Barra holds large tenement positions at three strategic positions along the Ida Fault at Phillips Find, Riverina and Quinns.

Just kicking the rocks with this one - following on from spectacular drilling results, and re-start of production in Jan 08? Market depth is virtually non existant, so share price volatility ahead? At 31c, EV now greater than market cap - and doesn't include any resource upgrade from latest drilling - undervalued by the market.

Nov 15 2007 ann - ​

The Company is pleased to announce the intersection of stunning high grade gold mineralisation associated with its deeper drilling campaign of the Tailor Shoot - Eastern Reef system at its 100% owned Burbanks Gold Project, located 8 kilometres south west of Coolgardie, Western Australia. These latest results include:​

6.0 metres grading 39.7 grams per tonne gold (including 0.5 metres grading 468.6 grams per tonne gold)​

6.1 metres grading 27.1 grams per tonne gold (including 2.2 metres grading 70.5 grams per tonne gold)​

3.5 metres grading 16.5 grams per tonne gold (including 0.4 metres grading 45.7 grams per tonne gold)​

1.5 metres grading 23.5 grams per tonne gold
9.1 metres grading 5.2 grams per tonne gold [FONT=Arial,BoldItalic](including 0.9 metres grading 27.3 grams per tonne gold)​

​

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[Sean K]

There are some great grades there but latest drilling was low widths. Must be the type of deposit perhaps...

Dahmu Reef continues to grow at Burbanks with further high grade gold mineralisation intersected confirming Dahmu’s consistent high grade nature.

Underground exploration drilling below immediate mining operations and at depth continues to show high potential for a significant increase in resources.

Best results from Dahmu Reef, Tailor Shoot and Eastern Reef include:

1.0 metre grading 30.0 grams per tonne
0.5 metre grading 32.7 grams per tonne
2.0 metres grading 25.3 grams per tonne
2.0 metres grading 21.5 grams per tonne
2.4 metres grading 14.2 grams per tonne
2.0 metres grading 11.8 grams per tonne
1.5 metres grading 11.7 grams per tonne
4.0 metres grading 9.6 grams per tonne
7.0 metres grading 9.4 grams per tonne

Where's the big upside you reackon??

 

[Bushman]

Yonkers. Check out the drill results released by this WA miner today.

Burbanks Gold Project, Coolgardie WA. Drill hole one of a series of 6.

4.69m grading 462.1 g/t including 0.21m grading 10,300 g/t.

That is massive. They think they have found a new reef.

As I said, it is drill hole 1 of 6. Drilling to recommence in January 2008 so could be more spectacular hits to come.

 

[Uncle Festivus]

There are some great grades there but latest drilling was low widths. Must be the type of deposit perhaps...

Where's the big upside you reackon??

Up 23% today, it could be the start of something big - new reef, excellent grades, more holes to come!

Yonkers. Check out the drill results released by this WA miner today.

Burbanks Gold Project, Coolgardie WA. Drill hole one of a series of 6.

4.69m grading 462.1 g/t including 0.21m grading 10,300 g/t.

That is massive. They think they have found a new reef.

As I said, it is drill hole 1 of 6. Drilling to recommence in January 2008 so could be more spectacular hits to come.

 

[jman2007]

Hehe,

I don't think I've ever seen such a high grade intercept reported on the ASX. This outdoes even RMS's effort a few months ago. The geos would have been checking the drilling offsiders pockets for sure, that is some serious gear they pulled out of that hole!

Some of these small underground stopes that follow a structure along strike can be incredibly high-grade. If it is a locally significant structure i.e. a quartz reef, and not just a locaized high grade anomaly, and if the gold is hosted in quartz vein or altered wallrock, then a lot of it will probably be free-milling and of low refractory nature (which = good).

Needless to say, a great result for Barra. I don't hold atm.

jman

 

[Uncle Festivus]

Spectactular gold intersection by Barra

A previously unexplored section of a Western Australian gold mine has yielded one of the most spectacular gold discoveries in Australian resources history.

The exceptional high grade hit yielded 10,300 grams per tonne (g/t) gold – or over 10 kilograms per tonne – as part of a high grade intersection from deep drilling by Barra Resources Ltd on the company’s wholly-owned Burbanks underground mine near Coolgardie in Western Australia.

The intersection, over 0.21m, was part of a longer 4.69m intersection that graded a spectacular 462.1g/t gold in Hole BBUD329.

“I have been drilling for two decades in and around the Kambalda – Kalgoorlie gold province and cannot recall any intersection of this magnitude,” Barra’s Managing Director, Mr Dean Goodwin.

http://www.minebox.com/story.asp?articleId=10595

The discovery is the second major gold development for Barra this week in the Kambalda region.

The company also announced a 70% farm-in to the gold rights of Breakaway Resources’ acreage just to the northwest of Ramelius Resources’ high grade Wattle Dam gold mine near Coolgardie. The tenement area includes the historic Spargo’s Reward gold mine.

Mr Goodwin said the company was close to finalising its forward gold strategy for 2008 and expected to make an announcement shortly, including the schedule for a new resource upgrade, based on results from current drilling.

 

[grizzly1]

Long time and no posts, methinks not much interest.
Have I missed something re Burbanks ? they have outstanding results in December, halt mining to concentrate on proving up initial intersections with results expected by mid Feb, mid Feb passes and no drilling results, projected cash costs are pretty high at up to 660/oz, Rumours are starting to circulate that they've proven up initial findings but no anny??
Have I missed an anny somewhere ??

 

[grizzly1]

Long time and no posts, methinks not much interest.
Have I missed something re Burbanks ? they have outstanding results in December, halt mining to concentrate on proving up initial intersections with results expected by mid Feb, mid Feb passes and no drilling results, projected cash costs are pretty high at up to 660/oz, Rumours are starting to circulate that they've proven up initial findings but no anny??
Have I missed an anny somewhere ??

Still nothing Following / accompaying the half yearly released on 14/03 (I knew I'd seen it but it's not on their website nor Comsuc) their cash position has increased so it's not a bad half yearly, along with their comments that the costs of establishing Burbanks have largely been accounted for and that 2008 should be a good year.

C'mon BAR just tell us you've found some more gold at the bottom of the hole, all else is in place.

 

[tarlox]

Ann out today! Check out asx site. I think this one has some good potential. More results for Mt Thirsty to come.

 

[Synergy]

Yeah hopefully some more drill results to come in the near future. I've held this for a month or so waiting for results and have watched it fall more than I expected it to. Hopefully the SP picks up as the results come though.

 

[Megacents]

Interesting information on Barra Unearths Nickel Sulphide Gossans at Mt Thirsty and Burbanks gold drilling.

 

[grizzly1]

Yeah hopefully some more drill results to come in the near future. I've held this for a month or so waiting for results and have watched it fall more than I expected it to. Hopefully the SP picks up as the results come though.

The results come through and Burbanks is upgraded to 40000 ounces which was what they expected to pull out of Burbanks in 2008 so I assume that they've only got to JORC one more years production or put another way they'll run out of JORC gold at burbanks by mid 2009 (yes there's a promise to find more just nearby, maybe some of the 200 000 ounces they expected to find in their ??Feb anny) I'd have thought this is very disappointing and cash costs for 2007 were $614 per ounce (anyone betting that they'll do it cheaper this year,,, please tell me something I'd like to know, their estimates were 580-660 per ounce so I'll be nice and go for 650) selling at 900 equals around 250 profit per ounce equals 10 million profit from Burbanks. And I'll bet a fair slice of that will go into trying to extend the life there. At the cash burn rate they've got, I can't be bothered looking at that right now suffice to say they're probably not going to see the conversion of the outstanding oppies without a miracle as this Burbanks resource update was not it,, shame it cost me some more of my hard earned but I'm out,,,,,,,, unless someone can show me why not.

 

[tarlox]

26% jump today and a speeding ticket. But no announcement? Ive been holding these for a while. Would have been a nice buy back in december

 

[tarlox]

Ann out today. Looks like good news with more good news to come. Is there anyone else holding &/or watching this stock at the moment?

 

[derty]

Yes have been following their progress, don't hold any shares.

Don't agree with their interpretation of it being a Kambalda Style nickel sulphide occurrence as the Mt Thirsty Sill is what is called a differentiated mafic-ultramafic sill and solidifies within the Earth while the Kambalda associated komatiites erupt as lavas.

It is more likely that this style of nickel mineralisation is analogous to deposits such as Radio Hill, Carr Boyd, Munni Munni. The nickel grades will be lower than that with Kambalda style deposits but can have much larger tonnages.

Either way it is significant to identify nickel sulphides in the Mt Thirsty Sill.

 

[tarlox]

Thanks for your comments derty. BAR has had some good rises over the past week. Hopefully the trend continues and it's not just a pump and dump.

 

[tarlox]

Worlds Hottest 100 Gold Stocks

http://www.mineweb.com/mineweb/view/mineweb/en/page67?oid=86881&sn=Detail

Interetsing article. Barra listed amongst hottest 100 gold stocks in the world.

 

[barrabegga]

Am a newbie to this. Have held this stock for about 2 years now. Seems to me that a lot of potential good news is announced, price rises, then gradually falls away. Would not be surprised if another announcement is in the wind.
Maybe thats just wishful thinking on my behalf.

 

[barrabegga]

SP has increased 27% since last post (almost 2 weeks). Still expecting an announcement in the next few days if past history in anything to go on. Anyone else holding this stock?

 

[GumbyLearner]

Gandal bow-wow. I wouldn't touch this with a barge-pole.

This stock has promised a lot and delivered little.

Just my opinion.