From a Beadell Resources announcement in 2008 I'm not sure why...

From a Beadell Resources announcement in 2008

I'm not sure why they passed it on but I think I read somewhere it may have had something to do with a natural disaster in the area which affected their drilling program


VICTORIA – REEDY CREEK PROJECT
First pass RC and diamond drilling totalling over 4,000m in 30 holes has targeted the Clonbinane area and intersected high grade gold mineralisation at Apollo, Golden Dyke and Rising Sun prospects with a combined strike length in excess of 800m (Figure 4).
The results from the first pass drilling program were modelled to record a preliminary inferred JORC resource of 609,000t @ 2.4g/t gold for 47,000oz calculated at a lower cut off of 0.5g/t using Ordinary Kriging.
At the Apollo Prospect four stacked ore shoots were defined by drilling with results from RC and diamond drilling recording significant results of 15m @ 4.6g/t from 62m, including 6m @ 10.1g/t in VCRC006, 4m @ 6.6g/t from 15m and 18m @ 4.5g/t from 37m in VCRC011 and 9m @ 5.3g/t from 76m including 4m @ 10.8g/t from 84m in VCRD003. An inferred resource for Apollo has been calculated to be 537,000t @ 2.3g/t for 40,000oz.
At the Rising Sun prospect, VCRC022 intersected a spectacular result of 8m @ 12.5g/t from 66m including 2m @ 45.9g/t and 7m @ 3.6g/t from 77m (Figure 5). Only two other holes have been drilled at Rising Sun leaving the prospect completely open to the north and down dip (Figure 6). A preliminary inferred resource for Rising Sun has been calculated to be 38,000t @ 3.5g/t for 4,000oz. The resource is severely constrained by the fact that only 3 drill holes have pierced the Rising Sun shoot (Figure 6). Planned infill and extension drilling has excellent potential to rapidly grow the Rising Sun resource.
At the Golden Dyke Prospect extensive historical workings occur over a 200m strike length. Only part of the eastern side of the Dyke was tested with drilling due to the need to complete heritage clearances within 200m of the Sunday Creek. A heritage survey has since been completed at Golden Dyke, clearing the way for further drilling to take place. Outcropping mineralisation up to 19.3g/t in rock chip samples has been recorded in the undrilled western part of the Golden Dyke. The limited drilling that was completed intersected several voids, however recorded results up to 4m @ 4.3g/t from 159m and 2m @ 2.8g/t from 168m in VCRD004. An inferred resource for Golden Dyke has been calculated to be 34,000t @ 2.6g/t for 3,000oz.