Ann: New High-Grade Discovery - Pepper Prospect, page-45

Excellent announcement, and very significant for many reasons.

We had a discussion a while back about whether or not this all joins up. At the time I suggested that it did, but I must admit that wasn't expecting it to be so evident this high up. In the announcement I really appreciated SL's comparison to a corrugated iron sheet;

“Think of fold shoots as linear folds like those on a corrugated iron roofing sheet. The sheet represents the north-striking steeply west-dipping volcaniclastic rock package at Dalgaranga. East-west shears regularly cross-cut the sheet, creating corrugations or fold shoots. The troughs of the folds host steeply-plunging high-grade gold mineralisation while the ridges between host lower-grade gold mineralisation."

I think this description matches with what I see in the 3D images of what they think the deposits looks like. You can kind of see it in this image from one of the most recent conferences. The deposits are wide but thin and all follow the same dip and plunge. The other image is of Never Never from an earlier presentation that gives a better angle of the narrow edge of the deposit.;



Also, in that conference he was very bullish about what they would find in this space (today's results - orange star). He kind of apologized that they were so slow to drill in this area. But is interesting that the "sheet" of the resource does seem to extend in this direction. Perhaps it is when they saw this that they realised the potential;



So, it seems that there is some kind of fault or "fold" in play that could have multiple high grade rods or "shoots" along it. The sheet of iron analogy works really well for me and indicates that they have a good understanding of the ore body. If you extrapolate the sheet across the whole deposit anything is possible, and all so close to the mill.

Good times ahead for Spartan.