Ann: Clarification of ASX release - additional data on sulphides, page-14

"The anns so far and the Prospectus's geo's report give no real indication that this is anything special, not at this stage anyway."

Shady Merv,

I take your point , it is only early days yet , but from earlier announcements with statements like "The IP anomaly forms a large contiguous 5km by 3km chargeability anomaly which wraps around a 2km by 1.5km resistivity anomaly and is consistent with a large porphyry copper system" , accompanied by photos of major blue / green skarn and breccia outcrops surface shows (the wall) .
and :
"Table 2 - visuals of chalcopyrite and pyrite sulphide abundance in observations and estimations" indicating Chalcopyrite veins and microfractures etc., disseminated concentration throughout at 0.01 to 0.5% from 29 to 145m , and 158 to 175 m @ 0.05 to 1% from 22 to 64m , 3 to 5% from 76 to 85 m and 1 to 3 % from 175 to 236m and drilling on in mineralization with sulphide figures doubled in the pyrite .

Just taking the 2 km x 1.5 km resistivity anomoly and nothing else :

a back of the beer coaster calculation gives 2000x1500x236 m3 = 708M m3 x say 5t/m3 OIP = 3.54Bt OIP for Cactus Canyon alone @ 0.5 to 1.5% Cu minimum (TBC) plus no doubt Au , Ag and Mo in varying degrees.

Add to this Accrington (which has not been drilled yet ) and should these very rough estimates be within 30 to 50% accuracy then statements of "possible world class copper deposit" I do not think are outtlandish.............may even be conservative. The assays will tell the true story but the geo's estimates are usually pretty close to the money.

The last announcement was in "geospeak" and the next one should be more in lab mineral concentration terms . Drilling in copper sulphide since 22.5 m to 236.5m and still in mineralization and drilling on .......... sounds very much like a large porphry copper system to me open at depth.

Good percentages , good depth and continuous.
Beg to differ , but a reasonable call at an early stage IMO based on announcements so far. See what 3 weeks brings.

Cheers