I have been trying to analyse the gold results for Lady Fanny...

I have been trying to analyse the gold results for Lady Fanny and I can make no conclusions that can be used in a predictive manner. We know that the gossan cap was mined for gold for several years before deeper sinking revealed the copper ores. The richer ores produced in the 1940-42 period on the first Table show high gold grades but this is typical for the region when copper values are this high. Figures for Nil Desperandum and Lady Maria show lower gold values than any other local mine on the list.

Copper to gold ratios don't seem to be consistent in drilling at Lady Fanny (second Table) but the last Table shows consistently high gold results and a remarkably stable copper to gold ratio at Hammer's only drill hole at the newly discovered Ajax.

The Lady Fanny Drilling over nine drill holes gives an average intersection of 23.9m @1.23% Cu and 0.29 g/t Au. The higher grade portions of the nine holes give an average high grade intersection of 6.5m @2.7% Cu and 0.81 g/t Au. These are all down hole widths not true widths.

What is clear is that the gold credits can be significant and will add considerable value to each tonne of copper ore mined in future, Lady Fanny appears to have a significantly higher gold grade than Nil Desperandum.

From Table 22 in Wheresmypants post plus some 1940-42 returns from Lady Fanny Group
Mine	Ore Mined Tons	Copper produced Tons	Gold produced grams	Copper %	Gold g/t
Bourke & Wills	685.02	88.29	367	12.9%	0.54 g/t
Duchess	204865	25155	76141	12.3%	0.37 g/t
Lady Fanny Group	4673.06	460.93	1676	9.9%	0.36 g/t
Lady Maria	168.46	10.97	-	6.5%	-
Mount Birnie	13.21	1.63	22	12.3%	1.67 g/t
Nil Desperandum	1790.03	81.48	9	4.6%	0.005 g/t
1940-42 production
North Fanny	11.98	2.2857	20.18	19.08%	1.68 g/t
North Fanny	24.7995	5.7473	25.82	23.2%	1.04 g/t
Lady Fanny Bright Lights	6.9304	1.4105	18.35	20.4%	2.65 g/t
Lady Fanny	9.5535	1.3146	32.07	13.8%	3.36 g/t

Lady Fanny drill results – Carnaby Resources
Drill hole	Intersection high grade zone	Copper	Gold	Copper grade x width	Gold grade x width	Ratio of Cu% to Au g/t	Alternative intersection with lower grade halo	Copper	Gold	Copper grade x width	Gold grade x width	Ratio of Cu% to Au g/t
LFRC004	3m	2.4%	0.04 g/t	7.2	0.12	60	7m	1.3%	0.05 g/t	9.1	0.35	26
LFRC006	8m	1.3%	0.2 g/t	10.4	1.6	6.5	46m	0.4%	0.1 g/t	18.4	4.6	4
LFRC007	6m	1.2%	0.2 g/t	7.2	1.2	6	23m	0.5%	0.1 g/t	11.5	2.1	5
LFRC008	11m	1.7%	0.2 g/t	18.7	2.2	8.5	40m	1.0%	0.1 g/t	40	4	10
LFRC009	11m	3.3%	1.6 g/t	36.3	17.6	2.1	27m	2.8%	0.8 g/t	75.6	21.6	3.5
LFRC012	7m	4.2%	2.0 g/t	29.4	14	2.1	17m	2.1%	0.9 g/t	35.7	15.3	2.3
LFRC013	6m	5.5%	1.4 g/t	33	8.4	3.9	20m	2.3%	0.5 g/t	46	10	4.6
LFRC021	2m	4.8%	0.4 g/t	9.6	0.8	12	10m	1.2%	0.1 g/t	12	1	12
LFRC022	5m	1.3%	0.3 g/t	6.5	1.3	4.3	25m	0.7%	0.1 g/t	17.5	2.5	7
Average	approx. 6.5m true width?			average of 6.5m @ 2.7% Cu	average of 6.5m @ 0.81 g/t Au		approx. 23.9m true width?			average of 23.9m @1.23% Cu	average of 23.9m @ 0.29 g/t Au

AJAX drill hole HMLVRC014 – Hammer Resources
From metres	To metres	Interval metres	Cu %	Au g/t	Ratio of %Cu to g/t Au
24	27	3	2.4	1.31	1.83
27	30	3	10.47	5.32	1.97
30	32	2	2.4	1.31	1.83
32	33	1	0.86	0.32	2.69
33	34	1	7.9	3.80	2.08
34	35	1	2.4	1.31	1.83
		11m	4.96 % Cu	2.54 g/t Au	1.97