Australian (ASX) Stock Market Forum

TRF - Trafford Resources

Joined
20 December 2006
Posts
207
Reaction score
0
Hi guys, has anyone else got behind this one?

I bought into it today after seeing a huge spike in volume yesterday. After doing some research i thought it was worth backing. An announcement is due any day now with the assay results of the weednana project. This may explain the shift in volume. Market capital is very low atm. They are drilling for gold atm but the wild card will be uranium. Management appears to be quite experienced (they are revisiting sites they previously looked at in the 80's...).

Company was listed on 19 June 2006 and was oversubcribed by $1mil (shares at 20c). Price closed at 40c today, spiked to 45c yesterday.

BUSINESS SUMMARY
Trafford Resources Limited (TRF) is a gold, copper and uranium exploration company, with the projects located in South and Western Australia.

Wilcherry Hill Project (option for 100%):
The project is located 30 km north of the township of Kimba on the northern Eyre Peninsula of South Australia. At the Weednanna Prospect drilling returned 7m @ 18.5g/t Au and 13m @ 6g/t Au. Diamond drilling at the Telephone Dam prospect returned 4m @ 17.2% Pb and 8.9% Zn and 6.m @ 8.9% Pb and 6.4% Zn. At the Mawson prospect 29m @ 0.9% Cu were intersected. Trafford also believes project is prospective for Olympic Dam style uranium deposits. In regards with exploration, the Company intends to re-analyse selected samples from past exploration program for uranium content. At the Weednanna Prospect, RC and diamond drilling is planned.

Lynas Find Project (option for 80%):
The project is located 100km south of Port Hedland in the east Pilbara region of Western Australia and is prospective for gold. Trafford proposes to explore for the extension of existing resources and also for new gold resources within the area. The objective will be to create a gold resource inventory such that a feasibility study may be undertaken. Previous drilling intersected 10m @ 9.07 g/t Au and 6m @ 2.2 g/t Au. Company intends to conduct study of all available mine plans and exploration data, with a view to commence drilling on those targets, which offer the best prospect of increasing gold resources.

This is an interesting article from a few months ago: http://www.smh.com.au/news/Business/Trafford-raises-4m-through-IPO/2006/06/01/1148956466300.html

Here's an interview from 27/09/06 http://www.brr.com.au/partner/minesite/event/TRF/2010/15541


Anyone have an views on this one?? If the announcement due doesn't go well the other projects should get the price back up after the drop (as they are more promising than the current)
 
Joined
28 March 2006
Posts
56
Reaction score
0
Going beserk today 44 Million tons of Iron Ore

ABN 93 112 257 299
Level 2, 679 Murray Street
WEST PERTH WA 6005
Ph 08 9485 1040
Fax 08 9485 1050
admin@traffordresources.com
ASX/MEDIA Release
9th February 2007
TRAFFORD CONFIRMS 44 MILLION TONNES OF
PREMIUM QUALITY IRON AT WILCHERRY HILL –
LARGE UPSIDE POTENTIAL IDENTIFIED.
The directors of Trafford Resources Limited (ASX code: TRF) are pleased to
announce that the independent quantitative study of the Wilcherry Hill (South
Australia) iron deposits, undertaken by Maprock Pty Ltd has been completed.
Maprock report that at the Weednanna, Weednanna North and Ultima Dam
prospects there exists a total JORC compliant, indicated and inferred iron
resource of 44 Million tonnes to a depth of 150m at an average grade of
36.4%Fe. The resource was calculated utilising a 15% Fe lower cut off –
arrived at after study of metallurgical properties highlighted by Promet
Engineers in earlier reports. (See Table 1). Maprock have also identified an
exploration target potential, within EL3095, in the range of 300 to 600 Million
tonnes of iron rich, magnetite bearing material. (See methodology below).
Target Area Resource
Category
Tonnage Grade % Fe Comments
Weednanna 1 Indicated and
Inferred
27Mt 35% Associated
with significant
gold credits
Weednanna
North 2
Inferred 5Mt 35%
Ultima Dam
East 1
Inferred 12Mt 40%
Total Indicated and
Inferred
44Mt 36.4%
Table 1: Wilcherry Hill – Current JORC Indicated and Inferred Resource
Status
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. 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. A number of regional and localised
aeromagnetic surveys were also studied in detail.
Three of the 93 magnetic anomalies( Weednanna, Weednanna North and
Ultima Dam East) were considered to have sufficient drill coverage for iron
assays to estimate resources in compliance with the requirements of the 2004
Australasian Code for Reporting Exploration Results, Mineral Resources and
Ore Reserves (The JORC Code), specifically continuity of the iron units.
Where drill data for iron are available the magnetic units are shown to be
caused by one or more sub -parallel, magnetite-rich ironstone units dipping
between 45 and 60 degrees to the east or west. The thickness of these
ironstone units ranges up to 65 metres. The most significant intersection is in
borehole 98WDDH004 (Weednanna) where 46 metres averaging 41% Fe was
intersected between 76m and 122m.
Exploration Tonnage Potential
In their extensive study of the available data base Maprock have reported on
the exploration potential as follows:
“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. This
potential quantity is only conceptual in nature as there is insufficient exploration
data currently available to calculate a defined Mineral Resource and it is
uncertain whether further exploration will actually result in the determination of
a Mineral Resource. A small number of additional magnetic anomalies present
elsewhere within the Wilcherry Hill Project tenements have a further but as yet
unquantifiable exploration potential for similar magnetite - rich deposits.”
Maprock comment on the importance of the significant gold mineralisation
within, or adjacent to, the iron units, such as the 11m @ 7.8 g/t Au within the
most significant iron intersection of 46 metres in 98WDDH004 at Weednanna.
Similarly the iron unit in 98WDDH001, which averaged 33% Fe over 34 metres
(2 – 36m), also contained 18m @ 12.4 g/t Au. Some of the gold mineralisation
appears to be located in the fold hinges of the iron units The coincidence of the
iron and gold mineralisation suggests that - subject to further test work – the
gold will report to the tailings following the magnetic separation process and
may then be recovered separately. This is likely to impact favourably on overall
project costs and the viability of a mining project, should one be developed.
Trafford announced on February 5th that it had engaged ProMet to carry out a
desk-top study of the potential of the Wilcherry Hill magnetite to provide the
basis for the development of an economically attractive mining and processing
operation.
ProMet’s report is expected in mid-March and Trafford’s directors will base their
future course of action for Wilcherry Hill on its findings.
Ian Finch
Managing Director
Tel: 08 9485 1040
Trafford Resources Limited (TRF) is a Perth-based mineral exploration company which
has been listed on the ASX since June 2006. Trafford’s primary focus is exploring for Iron
Oxide/Copper/Gold/Uranium (IOCGU) deposits in South Australia’s Gawler Craton.
The information in this announcement that relates to Mineral Resources, is based on information compiled
by Ian D. Finch, who is a Member of The Australasian Institute of Mining and Metallurgy and Mr. Fritz
Fitton also a Member of The Australasian Institute of Mining and Metallurgy as well as a Member of The
Australian Institute of Geoscientists. Both of whom have more than five years experience in the field of
activity being reported on. Mr. Finch is a full-time employee of the company and Mr. Fitton is employed by
Maprock Pty. Ltd.
Mr. Finch and Mr. Fitton have sufficient experience which is relevant to the style of mineralisation and type
of deposit under consideration and to the activity which they are undertaking to qualify as Competent
Persons as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves’. Mr. Finch and Mr. Fitton consent to the inclusion in the report of
the matters based on their information in the form and context in which it appears.
 
Joined
20 December 2006
Posts
207
Reaction score
0
This is my favorite bit

“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. This
potential quantity is only conceptual in nature as there is insufficient exploration
data currently available to calculate a defined Mineral Resource and it is
uncertain whether further exploration will actually result in the determination of
a Mineral Resource. A small number of additional magnetic anomalies present
elsewhere within the Wilcherry Hill Project tenements have a further but as yet
unquantifiable exploration potential for similar magnetite - rich deposits.”
 
Joined
10 February 2007
Posts
5
Reaction score
0
i have only today become aware of trafford, unfortunately. the article concerned talked of 40 mill. tons of premium iron ore,any advice on buying in now.
 
Joined
20 December 2006
Posts
207
Reaction score
0
The announcement was made on Friday at 1.25pm. Its hard to say if the market has digested this info fully. The price reached 69c on Friday before dropping back to 63c.

There was an investment seminar in SA today where TRF would have publicised the recent announcement.

Where did you see that article today?
 
Joined
27 April 2006
Posts
1,109
Reaction score
4
i agree halba. grades are nothing special. i dont really know why market went so ballistic over the ann. well who can decipher the market? haha.

anyway look at other iron ore juniors JMS, YML, UMC all these guys have identified areas of iron ore 55% plus. oh yeah and lets not forget HLX and AQA iron ore JV!

each to his own but i would rather hold these guys with elephant tenements in pilbarra in middle of mining majors rather than low grade areas.

IMO once market fully digests ann we will see a retracement. just my two cents guys.
 
Joined
4 December 2005
Posts
138
Reaction score
0
This is a magnetite deposit which is easily seperated, someboby on another
site explained that after seperation this ore is @ 70 % Fe ( pure Fe O4 (magnetite) is 74 % Fe (26 % oxygen) which would then be equal to 95%
pure iron. Good luck to all that hold.
 
Joined
10 February 2007
Posts
5
Reaction score
0
article was in the australian, steven seems bullish but others not so keen,it certainly moved in the market. new to trading , i also am following jervois mining .
 
Joined
20 December 2006
Posts
207
Reaction score
0
I will be holding on to this for a while, at least March when further announcements are made.

Market cap is tiny so there is potential for the sp to rise, if the reserve is confirmed at 300-600mil tonnes this will rocket!

The iron potential did not attract me to this share. It was the gold and uranium potential. The IOCGU mineralisation in the region could hold a fair bit of uranium. There are may unexplained magnetic and IP anomolies. If you recall from the last announcement they drilled an IP anamolie looking for gold and found no gold. The announcement said that further investigation was required to explain the anamolie. We have had no announcements in relation to uranium yet. Lets hope testing of the historical drilling comes up positive for uranium.

This is highly speculative (well less now that they have 44m tones of iron) and i hope it pays off. I expect they will now concerntrate on drilling to determine the limits of the iron reserve and i look forward to the results.

I expect the price to rise tomorrow but expect a pull back after (there was already a pull back on Friday afternoon). The price should rise in the lead up to the announcement in March and with further iron drilling announcements. I guess the market will decide where the price should stop tomorrow, hard to say really. I didn't expect the pullback from 69c to 62c on friday. Lets hope it rises above the current level.
 

ads

Joined
20 June 2006
Posts
6
Reaction score
0
Hi,

I did buy some of this stock and I am pretty keen on it, it seems they have other potential, not just the iron and experienced management. See what happens.
 
Joined
28 March 2006
Posts
56
Reaction score
0
Interest being shown again today. I hope it's supported by an ann of some sort.. I picked up some options today so now hold both stock and options.

Fingers crossed we get more resource news..
 
Joined
20 December 2006
Posts
207
Reaction score
0
I picked up some more stock today. I would expect further annoucements due soon in relation to assays of historcal drill results. I hope we get the uranium announcement soon! (I assume that if they tested the historical drill results for iron, they could also test them for uranium??)

The desk top study is due mid March.
 
Top