UMC 0.00% $1.30 united minerals corporation nl

۩ the rook ۩

  1. 6,111 Posts.
    Checkmate or stalemate…..
    What would the piece value of Railway have in a game of chess, what would you surrender/sacrifice the piece for?

    Currently the iron ore sector is been played like a Game of Chess.

    Side 1
    Vale, RIO, BHP, FMG and other iron ore Co’s

    Side 2
    The Chinese

    The Chinese have taken some pawns (io juniors) from the board….

    What value are put on the pawns..
    Do you sacrifice a Rook to take a pawn..
    Do you sacrifice a Rook to take the queen..
    Will patience get a check mate..



    IMO the Rook (Railway)


    ASX Release 3 October 2008
    ASX Code: UMC
    PILBARA IRON ORE PROJECT 100%
    NEW HIGH GRADE DRILL RESULT (117m grading 63% Fe)
    AT RAILWAY DEPOSIT AND PROGRESS UPDATE
    HIGH GRADE INFILL DRILL ASSAY RESULT – RAILWAY DEPOSIT
    Further to the +110 million tonne JORC inferred resource announced in July 2008 , assay results
    are now being progressively received from the infill RC drilling conducted on the more detailed
    80m by 100m grid. This follow up drilling program is to enable the Company to improve the
    resource status at Railway from an inferred JORC resource category to the much more positive
    indicated JORC resource category. It also provides metallurgical and mine planning information
    as well as extending the limits of the railway deposit both laterally and at depth.
    As part of that program, vertical RC hole number UI 314 has returned the best data recorded so
    far, the significance of which is the sustainable high grade and thickness. (see Figure 1 for
    hole location).
    Drill Hole UI 314
    117m grading 63%Fe (from 61m to 177m)
    Impurities grading 2.5% Si02, 3.0% Al203, 0.07% P
    This includes:
    30m grading 67.05% Fe (from 65m to 95m)
    Impurities grading 0.59%Si02, 1.71% Al203, 0.09%P
    This result is further confirmation of the thick high grade iron mineralisation that exists in the
    central zone of the Railway Deposit. A diamond drill hole has been completed next to this RC hole
    for geological and assay control and strong visual iron ore mineralisation has been confirmed in
    the logging. The cores are being kept for metallurgical assessment and will be submitted for assay
    in due course.
 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.