any news, page-7

I presented the Halleys announcements to a geo mate weeks ago to seek his comments.

I'm not very scientific so I'll repeat what he said in very simple terms:

1) He was excited by the geological signatures and nature of the broad intersections

2) More geochem sampling and geo interp is required before drilling as the rock type out there is relatively expensive to drill

3) Impressed with the platinum readings at surface and on shallow drilling

4) The company needs to "carefully" plan the first extensive drilling program at depth. This includes dealing with all the time consuming beaurocratic red tape in WA.

5) May hit the jackpot on first pass at depth but more likely the second drill program due to movement of sub surface structurs over millions of years. (ie deposit will most likely not be directly under the highly anomolous surface readings)

6) If the company doesn't intersect the deposit after 2 deep drill programs then they don't know what they're doing and should JV to BHP!

7) This is likely to be a large, complex sulphide structure so shallow RAB drilling performed in April-May to a depth of 70m will only assist with interp. Only a lateritic nickel/copper deposit could be discovered proved with such drilling.

I suppose that basically explains what the company geos and management have to consider before the first drilling campaign at depth.

I would rather they do the job properly to ensure that they have the best chance of intersecting the pay load!

I hope this helps? Whoever goes to AGM could they please post a small synopsis later in the day?


Regards,
HH