Ann: Greater Duchess Copper Project Continues to Grow, page-22

I always assumed the zone was continuous so this is not surprising. The drill holes 12-16 in the northeast missed the continuation of the mineralised zone and the previous mapping indicated that the fault intersection was met before this and the mineralised zone emerged on the Central and Lady Maria workings which strike northwest-southeast. CNB probably knew this but you must always have a certain number of empty holes to prove that you know the true extent of the ore and have closed it off in each direction.

CNB have found a large IOCG system at Nil Desperandum. They said this last announcement and the new results bear this out. The down plunge mineralisation heading to the southwest is getting thicker and maintaining or increasing grade. The thickness and grade seem better below the flexure where the dip steepens as shown in the cross section. We know that these systems have very high vertical grade and tonnage continuity in the Cloncurry region and both Nil Desperandum and Mount Birnie show these characteristics (think 1000+m down plunge). This bodes well for significant tonnage for underground mining and both deposits show potential for commencing with an open pit. The exact depth and dimensions of open pits will require a lot more drilling to define. Given the nature of the ore I suspect, at least at Nil Desperandum, that less costly caving techniques may be possible for mining (any mining engineers on the CNB thread to look at this?). Nil Desperandum looks like a decline development so that it can pick up the larger tonnages and from all the mineralised zones.

The story at the Central and Lady Maria workings at Nil Desperandum has not yet been revealed. There are some high grade drill hits and records of 5+% Cu from the open pits but more work is required to know the story here.

The 30% sulphides at the end of NLRC024 when first hitting the footwall zone sounds good. Hopefully the concentration chalcopyrite increases with depth at the expense of pyrite. This will be an important diamond tail to watch. Perhaps stepping back and drilling below this might also be worthwhile even though costly and time consuming. Or even better go further southwest and drill the plunge of the shoot at an even deeper level, we still have the main IP anomaly in this direction down plunge so this is a big target that just got bigger and more important.

Mount Birnie has a very nice high grade shoot continuing at depth and there is broader disseminated mineralisation (more drilling will be required to determine how much of this disseminated zone makes it to open pit grades).

Both deposits will be mined at some point, hopefully by CNB as the first of many in the area. Deeper holes down plunge required to confirm the vertical grade and tonnage continuity and why not put a couple of deep holes into the Duchess Deeps IP anomaly and remnant mineralisation while we are at it! Now is not the time to hold back on drilling. I think this is very promising and CNB should just keep drilling and determining the grade and extent, let drill these two out and create some JORC resource assets!

I will certainly be holding tight and watching these deposits grow. Not investment advice, you need to consider your own situation and invest accordingly after DYOR.