Hi ash kumar,Ok i think your conclusion is a little premature,...

Hi ash kumar,

Ok i think your conclusion is a little premature, if you read the report again you'll know that there is more work planned for the first 2 prospects. You could be completely right in predicting that they are dusters or completly wrong just like flipping a coin.

Let's put the 2 holes they drilled into perpective quoting some of the report.

Let's start with the Drill hole at the Lambada prospect . "At the Lambda prospect, the first drill-hole intersected zones of siliceous alteration associated with sulphide mineralisation within a felsic gneiss sequence, suggesting possible proximity to nearby mineralisation." what they are telling us here is that they are very close to the source, it appears that they missed the target but are very close to it. Notice how they stress the following "Importantly, this hole did not intersect the cause of the deeper EM response." Again they are saying they haven't drilled the cause of the deeper EM response yet !!, so they will need to run a (DHEM) surveys to locate the exact target of the main EM response
which will be followed by a second drill hole for lambada, again this will only happen after the (DHEM) surveys has been completed hence the following "A second drill-hole is planned at Lambda to test the deeper and larger conductor, once downhole electromagnetic (DHEM) surveys have been completed to confirm the location of the source."

Now regarding the Omega Prospect.

"The sulphide zone was much shallower and steeper dipping than predicted by modelling of the EM data, suggesting the possibility of a second target at depth that has not been intersected by drilling."
"Down-hole electromagnetic (DHEM) surveys are currently underway to test for off-hole conductors to explain the EM response. Further drilling at Omega will depend on the results of these surveys."

Again similar to the Lambada prospect they are running a DHEM survey and based on those results they will either decide to run a second drill or drop it altogether for Omega.

Out of the two prospects i think lambada looks more promising where I'm not too sure they are convinced with Omega.

So really the report is quiet inconclusive and they are suggesting that more drilling is required after they have run DHEM surveys. Just because mineralisation can not be seen visually in the first drill cores does not mean it won't when they decide to run a second drill hole at Lambada and Omega.

Lastly "Selected samples have been collected from both drill-holes and are being sent to Perth for analysis. Assay results are expected to be available in January." A duster would not have warranted an Analysis on those samples.

Finally there is still the Alpha & Beta prospects to drill and 8 Large PERU copper-Gold Propects planned for drilling in 2014.

Good luck to all in the new year.