Ann: FINAL GEOPHYSICS REPORT UNVEILS RIQUEZA MASSIVE POTENTIAL, page-41

I see this announcement as significantly changing the “reward” in the risk/reward equation we face. We now have a good sighting of a potential elephant in the room, much as we did with the pre-drill days at Humaspunco, but this time the elephant is an order of magnitude bigger – a chance of a top-10 world deposit as opposed to a top-10 Peruvian deposit.

In my mind an animal was glimpsed at Humaspunco with the photo of the exposed cliff mantos, the Zn anomaly map and the excellent surface vein sampling results, and then, the likely areal extent of the mantos combined with Ross’s layered sponge cake concept brought an elephant into focus. Pity that the drilling didn’t find multiple layers of thick rich cream reflecting an elephant. But…, the high manto grade found in the last well at the bottom of the hill and the subsequent Callancocha and vein mapping/sampling seems to have left us with a potential racehorse and I hope that S32 is interested in this smaller animal and wants to feed and grow it.

As I understand it 3D modelling attempts to answer the question – what assumed shape, size and location of certain rocks with certain magnetic intensity and direction will replicate the magnetic data from the survey? In the Yanacolipa case, the type of rock input into the model is that which may contain a carbonate replacement deposit and because of ICG’s extensive ground work and presumed rock property testing we should be able to be confident that they got these inputs right. The answer they have come up with is a very large elephant.

Well done Ross.