Ann: Eastern Mafic Confirms Nickel-Copper Mineralisation, page-50

I'm not sure what happened today, obviously a lot of holders got cold feet and sold out on reasonably high volume, leaving the company with a market cap of around $17m. I assume its to do with lack of grade however these holes were designed for DHEM to zero in on the targets and grade was not the intention.

GBR have identified 40+ high level EM targets and according to today's report have now tested 18 of them. They have drilled 20 holes in the Eastern Mafic and have received assay results on only 6 holes so far, so 14 more to come from Eastern Mafic alone. I don't expect really high grades from the remaining holes just yet but you never know. I think the high grade results will come during the remodelled drilling campaign in September.

Its a positive that the results were better than previously achieved at Mt Venn but this was despite the drill either missing the targets completely or just hitting the edge on others. The company is remodelling the high level EM holes based on DHEM's and will attempt to drill through the middle in about two weeks to show the high grade.

DHEM testing showed that many of the targets were much deeper then the drill holes and will also be remodelled and tested again in about two weeks.

On July 10, the company reported that they had completed downhole EM's at Mt Venn from which they managed to identify several conductor plates of 100,000+ seimens. I can't see where these assay results have been reported and assume they are still pending. It could also very well be that they haven't drilled deep enough just yet to warrant reporting.

A lot more very positive news to come IMO and with current price and market cap less than what it was before commencing the initial moving loop EM's this looks like a bargain to me. DYOR.