Todays announcement from Smallbone that the financial package announced less than a month ago would now not be sufficient certainly came as a surprise to me.
Comment on the blog at www.investorschampion.com

From the Times Tiddler to watch;
A Queensland- based metal explorer that listed a couple of days ago
at 5p is already setting out its stall.An announcement that Strategic Minerals intends to start exploration soon has sent the shares up to 12p despite fears of economic slowdown and worrying news of an Australian super tax that affected larger rivals such as Rio Tinto and BHP Billiton

Strategic Minerals plc (AIM: SML), the Queensland based minerals exploration Company, is pleased to announce the assay results of surface chip rock sampling from the Lead Belly Prospect within the Iron Glen Project ("Iron Glen") taken 2km north west of the primary exploration area drilled in October 2010.



The assay samples were taken from a mineralised skarn outcrop that was recently discovered by Strategic Minerals' exploration managers, Terra Search Pty Ltd, during geological and geochemical targeting of the favourable granodiorite-skarn contact that traverses the area. Previous exploration has shown this contact to be prospective for polymetallic base metals as well as magnetite iron ore.



Of the 11 rock chip samples of mineralized skarn analysed in the latest phase of the activity, the results of which were received on 10 June 2011and were reviewed by the Board on 13 June 2011:



7 assayed greater than 1% lead (Pb) with several >5% Pb up to a maximum of 20% Pb;

4 assayed greater than 1% zinc (Zn) with a maximum of 4.6% Zn;

4 assayed greater than 1% copper (Cu) with a maximum of 3.2% Cu; and

9 assayed greater than 30 g/t silver (Ag) with several >100 g/t Ag up to a maximum of 1500 g/t Ag.



Patrick Griffiths, CEO of Strategic Minerals, commented:



"Whilst the results from the Lead Belly area are too early to confirm the presence of a significant find at this stage, the results clearly identify presence of a polymetallic system and our objective is to now define the extent of the precious and base metals within the mineralisation which will become known only once the results of drilling are available. Lead Belly drilling is additional to the program to delineate further the extent of the known magnetite at Iron Glen. We look forward to pursuing exploration of magnetite iron and the polymetallic system at the Iron Glen Project in Northern Queensland, during the course of 2011 and further announcements will be made as and when results of drilling are available."



In 2010, encouraging intersections of massive magnetite were drilled at Iron Glen by the Company that indicated 30% to 50% iron (up to 70% magnetite) over 10m -12m down hole widths. Selected down hole polymetallic intersections included 28m @ 52 g/t silver, and 28m @ 0.48% zinc, 76m at 0.35% zinc, with several other holes returning 5m to 10m at 0.5% to 1% zinc.



Drilling on the Iron Glen project will commence this week, with one diamond and one Reverse Circulation percussion rig mobilised.

Looking for a good rise to day up up up.

Good luck to me i think i'm the only 1 in this.