WRK - Warwick Resources

[krisbarry]

Warwick Resources is based in Perth, Western Australia and is actively engaged in exploring and developing mineral properties in that state.

The Company has agreed to acquire a portfolio of highly prospective exploration projects near Newman in the Pilbara region of Western Australia.

The Company is focused on developing five projects covering gold, base metals, uranium and chromite. Two of the projects have been subject to historical mining activities. SRK Consulting has reported that Warwick's project areas have the potential for very large, medium to low grade deposits with potential for the discovery of further mineralisation.

The Pilbara is host to world class iron ore mines and is now emerging as a significant base metals and gold province. The Pilbara region is host to the Telfer gold mine, the Nifty copper mine and other commercial base metal operations including Whim Creek (Straits Resources Limited), Radio Hill and Whundo (Fox Resources Limited) and the planned Sulphur Springs operation (CBH Resources Limited). The Company's projects are located next to BHP Billiton's Jimblebar iron ore mine and Consolidated Minerals' Coobina chromite mine. Warwick Resources intends to capitalise on developing its projects in this under explored and emerging geological region.

An active drilling campaign will be managed by the Company through its relationship with Peak Drilling who will provide the Company with access to drill rigs to conduct the exploration program.


Listed today at 21.5 cents.

Small amount of shares on issue: 23 million

$4.5 million raised in recent IPO

 

[krisbarry]

KEY POINTS

• Significant precious metal credits and high copper grades confirmed by recent rock chip sampling along Copper Range

- Copper Knob: ten samples over 300m strike length average 3.0% Cu, 0.33g/t Au, 2.2g/t Ag

- Copper Knob East: 11.8g/t Au, 13g/t Ag from stratiform magnetite lens

- Copper Hill: values to 8.3% Cu, 0.54g/t Au, 41.5g/t Ag, 0.02% Mo

• New mineralised copper zone discovered at Copper Hill

• Historical airborne radiometric uranium data is being collated on Woggaginna base metalsuranium project

• Peak Drilling to commence first phase program in late February

 

[krisbarry]

Good signs for Warwick Resources amid debut

February 13, 2007

MINERALS explorer Warwick Resources has unveiled encouraging explorations results and says it will start its drilling program this month, after making its Australian share market debut today.
The company has made several discoveries at its two tenements in the Pilbara, West Australia, reporting precious metal credits and high copper grades.

"Although it's early days, the discovery of significant precious metal credits within the Copper Range system represents a major opportunity for Warwick to enhance the value of this large project," Warwick Resources chairman Jack Griffin said.

"We are focused on following this up with a reverse-cycle drilling campaign this month and expect to release results in the March 2007 quarter."

Earlier today Warwick made its debut on the local bourse, at 21.5c, a 7.5 per cent premium to its offer price of 20c.

But after hitting a high of 24.5c, Warwick eased to close steady at 20c.

Warwick's projects comprise two tenement blocks, which have a combined area in excess of 600 square kilometres.

The northern block has gold, copper and chromite projects and the southern block has two nickel sulfide projects and a base metals/uranium project.

Warwick's partner, Peak Drilling, will provide drill rigs for the exploration program.

http://www.theaustralian.news.com.au/story/0,20867,21220704-5005200,00.html

 

[krisbarry]

Sylvania Resources Ltd (ASX code: SLV) has concluded the sale of its
interests in its Australian tenements.

The consideration received for the sale is 1.5 million 20c
shares in the recently listed Warwick Resources Ltd (ASX code: WRK) plus $55,000 in cash.

Based on the mid-price of Warwick shares as at close of business
yesterday, total consideration amounted $355,000.

Sylvania has entered a restriction agreement such that the
Warwick shares granted to Sylvania will not be tradeable on ASX, or
otherwise transferable, for a period of 12 months from date of issue.

The sale was completed pursuant to the option agreement with Mr
Warwick John Flint for the sale of Sylvania's interest in its Australian
tenements at Jimblebar and Copper Knob dated August 16 2004 and as
extended on August 16 2006.

 

[krisbarry]

Nice bullish candle on the chart, hopefully it repeats itself again on Monday and pushes past the 24 cent barrier

 

[krisbarry]

Warwick identifies 16 uranium targets at Woggaginna

Warwick Resources (ASX:WRK) has identified 16 uranium anomalies on its
Woggaginna base metals/uranium project, near Newman in Western Australia.

Additional processing of radiometric survey data from an airborne
radiometric survey flown over this project in 2000 identified
16 uranium anomalies which will be targeted for further exploration.

The selected targets have been prioritised on the basis of the
intensity of the uranium anomalies and divided into four categories:

Six targets (J1-6) have been identified as discrete uranium
anomalous zones associated with magnetic rocks;

Five targets (U1-5) have been identified as discrete uranium
anomalous zones without magnetic association;

Two targets (R1 and R2) were identified as unusually highly
radioactive in uranium, potassium and thorium, possibly sourced from a
high level granitic intrusion;

Three targets (T1-3) are highly anomalous thorium zones with
lesser associated uranium.

Warwick shares were up 4.5c to 26.5c

 

[krisbarry]

Why has this not exploded yet...?

We had YRR list yesterday and it exploded, are traders just investing in the name?

What Yellow Rock, sounds better than Warwick?

I might as well do what the girls do on Melbourne cup and bet on the colour of a jockey than doing any reseach.

Mind you WRK drills next week for Uranium, when does YRR start drilling?

 

[krisbarry]

Well the crash of late and the up-coming cyclone in the West seem to be having an impact on WRK.

Drilling underway and results soon, should change market sentiment

 

[krisbarry]

I am getting very lonley here....

anyway I should add something of value to this thread or I will get a spanking

Drilling starts early April and results are expected by late April. Drilling progam was delayed due to a cyclone.

WRK are drilling for Uranium, Gold, Copper and Nickel

 

[Adrian.]

I am getting very lonley here....

Well, I hold. Unfortunately for me I bought at 0.26. I'm just trying to weather the storm and wait for the results.

 

[Tye]

.23 has just been broken. Been waiting for this for some weeks now. Gap should be filled and hopefully a push back up to .25 can be made some time over the next few days/weeks

 

[moneymajix]

This one is up over 16% today.
28.5c.

 

[Captain_Chaza]

This little Maiden is finding Blue sky in otherwise difficult conditions

Bon Voyage and Gods speed

 

[somesortoftrader]

Has anyone been following Warwick?

Sounds like the planned release of drilling results may be positive. The stock is currently in close.

Also note that some options have been exercised.

Buyers looking to pay more than the selling price too....

Buyers
Number Quantity Price
1 15000 0.570
1 10000 0.565
2 20000 0.550
1 3000 0.500
1 1280 0.460
1 50000 0.445
2 55217 0.435
1 30000 0.415
5 97027 0.410
1 80000 0.405

Sellers
Price Quantity Number
0.500 4000 1
0.550 3805 1
0.560 7500 1
0.570 30000 1
0.620 8000 1
0.650 3795 1
0.690 10000 1

 

[jope]

Certainly have right from day one,came close to selling a couple of times
glad i didn't.
Now for the rewards.

 

[Tye]

Few day ago found 3.9 million tonnes of NI which was not listed in IPO. Share price has taken massive dive though. YOu would have thought the opposite as the company has just more than doubled its market cap in 1 day.

 

[Snakey]

good ann. for these guys today. some very nice drill results at shallow depth for iron ore in Pilbara and possibility for DSO operation market cap only 29 million at 44 cents. Comments any one? looks like this has slipped under the radar for the last month coming from 20 cents in four weeks

 

[ta2693]

Jimblebar Range

Target commodity: iron ore

* An area of iron enrichment approximately 1.8km long and from 50m to 200m wide developed over a steeply dipping sequence of banded iron formation.
* Located just 8km from BHP Billiton's Jimblebar iron ore mine and railway line and 1km from the Jimblebar CID.
* Broad, high grade, near surface intersections of iron ore mineralisation from first phase drilling, including 60m @ 60.5% Fe from 6m depth (WRKRC60), 58m @ 60.6% Fe from 10m depth (WRKRC68), 44m @ 61.3% Fe from 14m depth (WRKRC64) & 36m @ 61.3% Fe from 26m depth (WRKRC69).
* Intense goethite-haematite enrichment of BIF units, extending from surface to vertical depths of approximately 70m.
* Mineralisation remains open in several directions, principally along strike and to the east.
* Levels of contaminants are low to moderate, indicating potential for direct shipping ore.
* Resource drilling Q2 2008.
400*200*25*5*$5/ton= 50m

Only this project is above the market cap of WRK It is going to fly. Currently it is 56c per share.

 

[Atma]

Jimblebar Range


Only this project is above the market cap of WRK It is going to fly. Currently it is 56c per share.

Hi there. Yes looks intriguing value doesn't it. It all depends on their JORC drilling. AGO has a stake in this company. so it must be promising.

 

[ta2693]

WRK. Here is some of my thinking about its value. I think it is very undervalued



The WRK’s project located very close to world class Iron mine.
Its project includes Iron, Gold, Chromite,Copper,Base Metals, Uranium,Nickel.
All the project is close to rail.

Jimblebar Range is an area of iron enrichment approximately 1.8km long and from 50m to 200m wide,
developed over a steeply dipping sequence of banded iron formation. Initial drilling results intersected thick high
grade near surface mineralisation, including 60m @ 60.5% Fe from 6m depth, 58m @ 60.6% Fe from 10m
depth, 44m @ 61.3% Fe from 14m depth and 36m @ 61.3% Fe from 26m depth (see announcement dated 8
April 2008).
1800*125*25*5=28,125,000 ton DSO Value 140M at $5/ton

Caramulla South has extensive surficial iron enrichment within an east-west striking strip of Marra Mamba
Formation, up to 120m wide and 4km long, near the northern margin of the exploration licence. An initial drill
traverse returned significant intersections, including: 21m @ 56.3% Fe from 15m depth and 11m @ 59.2% Fe from 9m depth

4000*120*20*5=48mDSO value 240M at $5/ton

Woggaginna has extensive areas of surficial iron enrichment, developed over banded iron formation confirmed
by detailed mapping and sampling. Grades up to 63.0% Fe and low contaminants indicate DSO potential.
“What is pleasing, besides the potential size and scale of the iron target at Woggaginna, is that we are developing a good understanding of this style of mineralisation. The iron enrichment is similar to themineralisation at Jimblebar Range where recent drilling confirmed high iron grades and demonstrated beddediron enrichment at depths of over 70 metres,” Mr McQuitty said.




1Km=45mm
1mm=20m 1cm=200m
The main area with 70.2m@57% result has 200m*40m*70m*5=2,800,000ton
The area with 26.8m@59.7% 38.9m@56.9%,40.1m@60.7% has
1000*20*25*5=2,500,000ton
The area with 27.2m@61.9% 43.4m@57.7%
200*40*20*5=800,000 ton
Total DSO on figure 3 2.8m+2.5m+0.8m=6.1m value 30m at $5/ton

Still have two area have not tested yet.
From the map it looks has another 10m ton. Around 50m at $5/ton

Ten Mile CID is a recently identified channel iron target over 3km in length and up to 400m wide, with potential for further mineralisation beneath shallow cover. Initial rock chip sampling returned grades up to 58.5% Fe.
Grassroots Iron Targets – Areas of surficial iron enrichment, developed over banded iron formation, have been
mapped at Nickel Hills. Multiple targets for channel iron mineralisation have been identified on the Company’s tenements.

WAITE KAURI LATERITE NICKEL PROJECT

“The Company released an Inferred Resource of 3.9M tonnes @ 1.04%
Nickel, and 0.04% Cobalt for the Waite Kauri North Nickel Laterite deposit.
A decision on the future of the area within the Company’s tenement portfolio
will be made in the future.” (RM research)

COOBINA WEST CHROMITE PROJECT
“Warwick Resources has scheduled drilling to test the presence of multiple
chromitite seams along a 700m strike length with indicated thicknesses of 2-
3m from previous mapping by CSR Ltd. The Chromite is of a lower grade to
that mined at Consolidated Minerals Ltd Coobina mine. The highest recorded
rock chip samples from the tenements returned 31.6% Cr2O3.(RM research)

Copper Range
Target commodities: copper with zinc, silver, gold by-products
Jimblebar Gold
Target commodity: gold