Ann: Cohiba expands Gawler Craton IOCG target portfolio, page-4

An excellent strategic move. Good IOCG targets are getting snapped up and there are quite a few Farm-Ins being negotiated in the Gawler Craton. Some of the tenement holdings are truly extensive (one company holding >12,500 sq km). The timing on this is good - once the drilling has started on Horse Well, with a 1,600m hole taking some weeks to complete (and then onto Pernatty C) it will provide the opportunity to plan the drilling at Warriner Creek in the background. The geophysics (Gravity and Magnetics) on the SARIG database certainly show some interesting anomalies at Warriner Creek. The fact that the depth to basement is interpreted to be much shallower in this part of the Gawler Craton is a huge benefit to exploration and also undergirds this as a good strategic move. With the potential to do 2 - 3 holes for every one at Horse Well the information flow will be more rapid and it will make it much easier to arrive at technical conclusions regarding this ground. If they had waited for the Horse Well drilling and associated interpretation to be completed there is a strong likelihood that a parcel of ground like this may not be available. I notice from the White Tiger Resources website (www.whitetigerresources.com.au) that they have already entered into a Farm-In with BHP on their Intercept Hill Project and a HOA with Oz Exploration on their Pandurra West Project - obviously these guys have been getting some attention. Be good to see Cohiba become a solid IOCG explorer in the Gawler Craton.