Ann: Drilling Update Carr Boyd Nickel Project, page-15

Sorry folks don't see too much positive in this announcement.

Pre drill I believe the hypothesis was that an EM anomaly located in the expected basalt contact area could be a significant mineralized zone. This was not the case as they misinterpreted where the basalt contact area was and what was causing the EM anomaly was the sulphide black shale within the basalt layer, this is why they kept the drill bit turning well into the basalt layer to find out what was going on. The fact the basalt layer was shallower than expected was a killer because the whole hypothesis went to sheet. Not surprising there was excitement that nickel and copper sulphides where appearing so early in the drill, they were expecting the mother load but instead hit the basalt layer.

I'm out!