nickel ore body, page-4

Jorge, Fish et al...

The Black Hill Nickel project is obviously uneconomic at this stage, however, that may rapidly change if some good hits occur when they drill test the project further.

In relation to the Black Hill project, Cortona states the following in the 2006 Annual Report:

"Higher-grade pods within the resource are highlighted by better extensions including 12m @ 1.10% Ni and 22m @ 1.06% Ni. Targeting these pods is one of a number of scenarios currently under consideration by the Company."

Given that Cortona has recently acquired adjacent tenements from Duketon Consolidated NL as announced on 11 Jan 2007, this may end up proving to be the vital difference in the commerciality of the nickel laterite resource over time. There is a lot of drilling and testing in the interim. However, given the high nickel price environment and with market forces (BHP announcing 2day that Ravensthorpe mine will not be producing nickel until 2008!) remaining favourable over the next 2 years, the project may prove to be the jewel in the crown for Cortona.

As per the release made on 11 Jan 2007, some more to think about regarding Black Hill;

"Furthermore, the Black Hill Nickel laterite resource may extend southwards into this area, but remains untested by drilling”.

"A second significant aspect of the new area is that the Black Hill Ni-laterite could potentially extend southwards into it, where it remains untested despite the continuation of the ultramafic unit being observed both in outcrop and on aeromagnetic images (Figure 2). Cortona will now assimilate the new area into the North Monger Project, where it will form an integral part of the Company’s exploration strategy."

Sounds exciting, doesn't it! As always, DYOR!

Cheers Freakme