Ann: Stunning High-Grade Gold Results Continue at Minos Prospect, page-17

There are some very high grade narrow zones with strong depth and grade continuity at Minos. This sounds very similar to Challenger which had narrow high grade zones going down as far as drilling has reached ~1000m. One million ounces later and the narrow high grade zones don't sound too shabby.

Minos also has an increasing strike length and I have no doubt some of these high grade ore lenses will connect through to Ariadne and continue at depth way beyond the current depth of drilling.

I always prefer high grade because you can make good profit and you can still make profit when commodity prices drop (low grade mines close).

So we have a 1-2m high grade core in each lens and some 0.8-1 g/t broader halo around this. There are also some places where the high grade core of the lenses expands in width to 10m or so. In an underground mining context I would rather mine a 2-3m width of very high grade than a broader width of lower grade material (unless you have a gazillion tonnes). Higher grade like that at Minos and Ariadne can be trucked to the Challenger mill, lower grade material will not stand the transport cost.

Lots of potential to add to the depth and strike of the mineralised lenses and a JORC should aim for a high grade. I get tired of seeing low cut-off grades used to produce a much larger tonnage but with very little extra contained metal. We could see a JORC later this year at Minos but still be open at depth and along strike with 30km of shear zone left to explore.