Ann: New VMS Base Metals Discovery at Pyramid Pro, page-16

re: Ann: New VMS Base Metals Discovery at Pyr... WA, if you had written your first reply like that, I would have been more inclined to offer some explanation.

It is not about looking for negative or positive angles. It is about analysing the information as it stands. The drill program was a technical success in that the EM identified a conductor, and the drilling hit it and proved that it is indeed a conductor. However, the geologist on site would have been somewhat disappointed to see the core come up predomantly pyrite and pyrrohotite (iron sulphides) and relatively barren of base metals.

With all that pyrrhotite they hit, one may follow a model to suggest that the massive mineralisation is close to the feeder zone in the footwall. If the VMS was showing strong economic potential, then one might expect a strong chalcopyrite (Cu) - pyrrohotite association in that particular zone. However the assays suggest relatively minor copper, where one would hope for very high grade.

So IMO, the probability of the VMS they drilled being DeGrussa style has been downgraded - at least for that tectonic phase. However, looking at prospectivity, if this VMS is sediment hosted then perhaps it has a chance of hosting massive sphalerite (Zn) and galena (Pb) distal from the footwall higher in the stratigraphic column. The electromagnetic response of any massive Zn/Pb mineralisation may be masked by the more conductive iron sulphides, but if it does exist it may show up by gravity surveys (perhaps that is worth them considering). Further on prospectivity we know the district has the potential to host VMS, so perhaps there are tectonic events of different ages with phases of economic mineralisation.

I agree with their assessment that the mag anomaly along strike should be followed up, eventhough the mag response is indicative of potential pyrrhotite and base metals may or may not be any more enriched than what has been discovered so far. However, it is still a valid exploration target, that warrants investigation.

So in conclusion and by analysis, and without too much upsetting of diehard THX fans, I suggest that the initial results from Pyramid are somewhat disappointing. However for the reasons explained above it is a project with good potential. But when trying to get bang for your exploration buck I question if the other projects in the portfolio might have a better return at this stage when the company really needs runs on the board.