Ann: First assays for Iris copper prospect, Cloncurry-MEP.AX, page-33

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MandB

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23/11/16

03:51

Post #: 20807648
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Originally posted by pacificwinner ↑

As far as my understanding, initial target model for Iris (and likley Electra as well) was Eloise, which deposit system is very narrow but very deeep plunging with moderate higher grade Cu and some Au & Ag.

First drillings assays results at both Iris South and North were very low grade of Cu and trace of Au.
Though, I anticipated higher grade at deeper zone in light of Eliose type system.
Follow-up drilling outcomes, we all do not know yet.

Nonetheless, from past series of company announcments indicate that Iris Soth & North and Electra are connected
by proposed falult line along hydrothermal system. This indicates that Iris South (North) is not stand-alone possible independentmineral deposit but attached to or satellite deposit. This recommend us now we have to forget about deep
plunging higher grade ore deposit like Eloise.

As conductance is utmost impotant vital factor for successful ore findings, the following are so far mentioned:

Please note conductance equals conductivity x thickness.
1. Iris South 135m cover 3,200S
2. Iris North 100m cover 1,500S
3. Old Electra 300m 5,000S and 380m 6,000S
4. New Electra 470m 1,100S

If we check again, initial Iris South and North drillings (#4 & 5) on 19 Oct 16, relatively lower grade of Cu indicates
that above survey were very likely 'correct'. Then if company maintained original 5,000S and 6,000S, we can possibly
anticipate we may encounter more higher grade of Cu and possibly Au. But Electra's new conductance 1,100S could
possibly give a question mark to me economic viability in terms of grade even 2.7km of conductive strikes.

Anyway, all these are totally non expert's views for entertainment purpose.

Regards,

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Hi pacificwinner

no quite alarm bells going off but maybe smoke signals

Just seems to be very close to something bigger

Again a non expert view...but just feels really close

Gut instinct always important....and feels right here

MEP Price at posting: 9.5¢ Sentiment: Buy Disclosure: Held
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Ann: First assays for Iris copper prospect, Cloncurry-MEP.AX, page-33

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