Ann: Final Walford Resource Drilling Results for 2018, page-2

Yes Damo, you’re onto it!

This is a monster deposit (and 'dim sum')!

Let’s put this in perspective on a world-wide scale.

Google tells us that the biggest open pit mine in the worldis around 4kms long.

That's roughly the size of just the Vardy and Marley zonesalone.

These two small subsets of the total AML Walford Creekresource feature both the shallow PY1 lens and the deeper PY3 lens.

It would seem that the PY1 lens is typically from about 20mto 100m deep and should be suited to fairly simple scoop and truck open-pitmining.

The PY3 lens is deeper but may be suited to bulk cavetechniques which would keep the mining costs down (and let's not forget thatthis zone has even higher grades than the PY1 lens).

This means that just the Marley and Vardy zone is equivalentto the biggest open pit mine in the world and should be very profitable withwell above average grades of both copper and cobalt (plus credits for zinc,lead, silver and sulphuric acid/phosphoric acid fertilizer).

The current drilling has proven that the shallow PY1 lens isabout 8kms in length and then disappears as the PY3 moves up closer to thesurface to the West and continues on (and on).

How much further does this richer PY3 lens go to the West?

And, does it actually matter?

We all want the resource to go for 20kms+ which it maywell do- but that’s probably for future generations?

We already have the prospect of a giant 4km world-class mineat Vardy and Marley plus the PY1 lens continuing for another 4kms on top ofthat.

Plus, then the PY3 lens continues well past even that!

Have a look at the diagram on page 3 of the current ann.

It shows key holes in the “exploration" drillingproving continuity of the PY3 lens for multiple kms to the West from Vardy andMarley.

E.g. hole 352 which is about 5kms West of Marley – assays at42m of 2.55% Copper and 0.29 Cobalt (over 5% CuEq) and hole 378 which is about6kms West of Marley – 9m of 5.10% Copper and 0.36 Cobalt (over 8% CuEq)!

Plus, in this same ann, Hamish Collins confirms that theupgraded resource estimate, due early next year, will be for the whole WalfordCreek resource i.e. including the exploratory holes West of Marley (and notjust the Vardy and Marley subset).

We posted a pictorial analogy of the gigantic scale of AML’sresource which winds along the Fish River Fault through Walford Creek for allthis distance some time ago:

The current SP is a complete and utter and very sadjoke.....

Happy Christmas to all and bring on the resource upgrade!