Ann: Adriatic Metals High Grade Mineralisation Continues Rupice, page-21

"Well I guess everyone is so accustomed to large high grade intersections that this is not such good news."

I suggest you guys read the ore genesis thread I started. My conclusion after looking at the statistics for all worldwide VMS deposits on the USGS data base is that we are probably dealing with a Kuroko Style (Bimodal-mafic type) VMS deposit (see post below).

https://hotcopper.com.au/threads/ore-genesis-thread.4341687/page-17?post_id=35044028#.XSQuj8o_WhA

If this is the case take a look at the world wide Zn, Pb, Cu, Au, Ag grade distributions of these types of deposits here

https://hotcopper.com.au/threads/ore-genesis-thread.4341687/page-15?post_id=35041061#.XSQvJMo_WhA

Below is the grade distribution for Zn for all deposits in the data base (taken from my post above) compared to the average Rupice Zn grade from the first 9 holes drilled (I haven't updated the averages since I made that post in August last year but at a guess I'd say they wouldn't have changed much).

As you can see Zn grades for this style of deposit rarely exceed 5%.

18m @ 8.2% is still an exceptional high grade intersection by world standards.

The average Zn grades in the deposit tonnage range we might be expecting is closer to 2% (I would need to find my old excel files and calculate it). For me the results today are a little disappointing in that are are probably confirming my conclusion of the deposit type, ie the likelihood of this being a monster SEDEX deposit has diminished. I'm not a geologist but it looks like we are seeing some zoning to the north with base metal grades falling and precious metals being more dominant. The good news is that the deposit hasn't been faulted away (lost), which could have been an outcome and would have made further exploration more difficult. Also the new IP anomaly is interesting. Could it be a folded lobe of the same deposit, ie the deposit might have been overturned on itself and part of it is now sitting out to the west. It is either this or another seperate lens, ie a stacked occurrence IMO. What are the chances of it being some spurious overburden response (with no value)? I suppose these are the questions that will need answering and the answers might determine if this deposit might be twice as valuable as it is now. I'm not personally buying (for personal reasons) but based on the chart, todays announcement and the recent sniffs of corporate manoeuvring I'm changing my sentiment to buy. Esh