Ann: Further Northern Extension to High Grade Mineralisation, page-57

@Wack

“Have a look at the pic below, ( yes I know you have seen it before ).
I interpret this as follows.
Where Rupice is marked, the yellow shape is that produced from the IP of the resource and shows the dip towards the nth west which is exactly as we are finding it.
As it gets deeper it gets much bigger but fades because of the dip and is too deep to give clear yellow like the more shallow areas.
I am assuming that there is much more at depth by the look of this mass but atm it is outside our border, ( not for long ).”

Actually I think this is the wrong interpretation. The current extents of the Rupice deposit don’t follow the IP. The deposit strikes off to the north from the IP anomaly.

I’ve made mention of this before based on comments made by the company in their June quarterly report (see below). As at the date of the June report the drilling only covered 17% of the strike length of the north west striking IP anomaly that you mention. That’s what I find a little frustrating here. The company says it has 4 rigs working but we aren’t getting updates on the progress of drilling outside of the immediate Rupice “resource” area. There is clearly still room to drill the IP anomaly to the north west within the current concession boundary and the Berstic-Jurasevac IP anomaly lies completely within the current boundary, but no news from that either.

The share price remains undervalued for a reason!!! That’s the worrying part. What is the reason? Maybe John’s colleges at Sprott can explain? Esh

“At Rupice North the mineralisation remains open in all directions and the Company has mobilised three rigs and will add a fourth to the campaign. The Company will continue to explore further to the north and also to the west, east and back to the south in order to expand the area of known mineralisation and also to provide sufficient sample data to allow preparation of a Maiden Resource Estimate in 2019.”

“The style of sulphide mineralisation at Rupice makes an excellent target for induced polarisation (IP) geophysical surveys where the presence of sulphides results in an increased “chargeability” anomaly against the host sediments. The Company has carried out an IP program used two different arrays; gradient array (GAIP), see Figure 3, which allows for the rapid coverage of large areas, and pole-dipole array (PDP) which gives better depth resolution, allowing confirmation of the chargeability anomaly and defining a target for drilling.
These techniques have defined 5 anomalies exhibiting increased chargeability. The Rupice anomaly is clearly associated with the polymetallic mineralisation intersected in drilling. The anomaly extends over a strike length of +600m and remains open to the northwest, with current drilling only covering nominally 17% of that strike length.”