52.1 Mt at 56% Fe with a 50% Fe cut-off, or 33.8 Mt at 57.3% Fe with a 55% cut-off. Not a bad effort considering they only commenced drilling in September.
'Conservative exploration targets established of 100 to 140 Mt @ 57% to 60% Fe for the western side of the range only.'
Worth having a close look at Fig 2, which highlights the area that was included in the resource, the area that could comprise the 100 to 140 Mt target, and the area of 'further potential'.
Who knows, we might be looking at several hundred million tonnes of hematite ore from McPhee Creek, and this is just one of seven iron ore projects Giralia are progressing.
GIR Price at posting:
$1.36 Sentiment: Buy Disclosure: Held
