Ann: New High-Grade Zinc Intercepts Expand Southern Nights, page-11

Cracker grades as expected but still a lot more work to do. Announcement way great on face value but a few things to note namely:

- 7 out of 11 holes ended prematurely due to water in flows, diamond tails planned
- The use of the wording 'moderate to weak mineralisation' in those holes to the South of the discovery hole as opposed to strong to moderate for previous holes. Grade and width appear to be decreasing to the South.

Based on the above the next batch of assays might not be that great. WTRC046 will be key as that will indicate grade and width extending north towards Wagga Tank. Based on commentary I don't expect it will disappoint.

"WTRC046 (211m) was collared (270 azi) ~40m east of, and was designed to test downdip of WTRC037 and WTRC041. WTRC046 intersected a broad zone of anomalous Zn-Pb-As-Ag from ~61m to end of hole. A weak-moderate zone of Zn-Pb-Ag mineralisation was intersected between ~142m to ~162m; ~168m to 171m; and moderate-strong zone between ~193m to ~204m downhole. The hole was terminated prematurely in mineralisation due to high water inflows. Assays remain pending. A diamond tail is planned".

With cash in hand and the drilling program expanded this is certainly a good MT to LT hold but I can see a bit of volatility here in the short term. Still a bit miffed like others here on the CR price. With 50 million shares to churn through and still in the money anywhere above 40c, there is certainly not a lot of encouragement for CR participants to hold MT to LT. Lets just hope they went to some sticky fingers!