TYX 0.00% 0.8¢ tyranna resources limited

resource potential

  1. 1,037 Posts.
    During a quiet moment this weekend i revisted the TRF annoucement of 9 February 2007, the announcement that made reference to 44mt jorc resource wich IFE is going to work on expanding. (http://www.asx.com.au/asxpdf/20070209/pdf/310wkqqtwzdwvx.pdf)

    I will specualte that the resource may be bigger than than the conservative potential estimated by Maprock. I have drawn this conclusion based on my consideration of the following excerts from the announcement:

    **

    "Maprock identified and studied 93 (ninety three) strong magnetic anomalies in 19 separate areas, contained within EL3095 - part of the Wilcherry Hill Project. The investigation looked at over 21,000 iron assays from a total of 533 boreholes, most of which were drilled as part of earlier gold exploration."

    Maprock has studied 93 anamolies and looked at 21,000 iron assays from 533 holes. I doubt all the holes only covered the areas that comprise the 3 anamolies used to estimate the Jorc resource. Maprock would have known the potential that was held in some of the other anamolies, but as there are not enough holes to estimate a jorc resource they have to keep quiet about it. I would love to know what iron assay results are currently on hand for the other anamolies. This info alone would raise much interest in IFE as it will show which anamolies do hold iron. (maybe a handy announcement to make if the IFE share price needs a little upward push.)

    **

    "None of the boreholes were believed to have deliberately targeted the iron bodies and, as a result, the drilling has not fully tested the limits of the iron mineralisation at any of the prospects."

    This speaks for itself.

    **

    “Indications from the presently known geology, drilling results and airborne magnetic data suggest that the exploration targets within Trafford’s EL 3095 in the Wilcherry Hill project area, defined by more than 90 strong discrete airborne magnetic anomalies with generally short strike length signatures similar in
    nature to those with already drill defined resource estimates at Weednanna, Weednanna North and Ultima Dam East, amount to an exploration target potential in the range of 300 to 600Mt of iron-rich, magnetite-bearing material down to a vertical depth beneath surface of 150 metres."

    Does the reference to 150m mean that the resouce can be doubled by going deeper to say 300m?

    It says alot when people that are studying all the info that the market is not privy to say there is between 300-600mt. Maprock has a reputation to preserve and is more likely to underestimate than overestimate.

    Regardless of whether the resource is greater than 44mt, the results of the desktop study speak for themselves in that an economic and viable operation can exist with a resource of 44mt. Anything in excess of 44mt is just icing on the cake.

    At this stage i do not hold IFE but am holding and have added to my indirect interest in IFE through TRF. Instead of


 
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