Ann: First Assays West of Resource, page-8

By my mental arithmetic the grade is over 2.5% Cu equiv for the 33m intersection if the Pb, Zn, Co and Ag are all valued. The 'included' 22m higher grade intersection is close to 3% Cu equiv.

Re the low Cu grade in this hole: The ann clearly states that even within the existing WC resource there are zones where the relative concentration of the metals varies. Some zones are Cu rich others are Pb/Zn rich. For those punters specifically chasing copper, holes 304 and 292 are expected to be Cu rich. All seem to contain reasonable (to high) grade Co. ;-)

We need to remember these step out holes along strike are KILOMETRES apart. The fact they are all strongly mineralised with any metals is extraordinary. The whole strike of some other similar grade polymetallic resources would sit comfortably between some of these step-out holes and would likely not even to have been intersected with this sparse drilling campaign.

As already stated by many, Walford Creek will undoubtedly be an enormous polymetallic resource of significant grade. Size and grade will not be the issue. My main concerns relate to the remoteness, lack of nearby infrastructure and seasonal weather issues. However I am hopeful that the sheer value of this monster resource will enable these issues to be economically countered.