I'd really need to spend a day, going back over all the geology...

I'd really need to spend a day, going back over all the geology and the published results to even have a half intelligent answer to that. And I can't because I still seem to be working 7 days a week.

But Newcrest, who have a lot more data than is publicly available, and who have spent a lot more time and resources on it than I ever could, clearly think there is.

Whether they think that Wilkie may hold another 'Telfer' another 'Havieron' or some other 'type' of big gold deposit is probably less important than the fact that they are in there and heavily committed to looking, spending and also to owning a strategic interest in Antipa. That all speaks volumes about what the best-informed player in the area thinks or knows.

In terms of what the assay results from their last year's initial exploration drilling on the JV may produce, anything other than a complete blank would be very positive.

Last years work would have largely been taken up with compiling the available previous exploration data, interpreting it, and drill targeting, then getting Mines Dept. Programmes of Work approved and environmental permits granted, conducting aboriginal heritage surveys and negotiating land access. That would have eventually been followed by some initial shallow drilling in a couple of areas to test their initial ideas.

Once they have the geological and assay results of that initial drilling, they may then find that their initial ideas have been confirmed, or modified, or changed drastically. Then, armed with new hard evidence they can then come back this year and resume the drilling of both the original targets and some new ones, more effectively and with greater certainty. And having got all the permitting out of the way last year, they will now have a full field season ahead of them in which to focus on continuous, productive exploration work.

There is always the chance that last years drilling at some of those 'Havieron-type' geophysical targets may have jagged some mineralisation that could lead directly into an underlying orebody with followup drilling this season. But it isn't that likely. Those are big targets, and they haven't drilled many holes yet.

What is more likely is that they now have a far better understanding of the underlying geology and rock types, and may have hopefully got some encouraging geochemical 'sniffs' that tell them where to spend the serious drilling dollars this field season.

So we shouldn't expect too much from last year's initial work. You don't just walk up, drill a hole and 'bang' there's an orebody. We should be looking for subtler signs of encouragement in the results. And Newcrest have a very large initial expenditure commitment for these first two years, little of which was able to be spent last year. So this field season, starting this month, it will be 'game on' for the Wilkie joint venture - in terms of the drilling program, and it is thid field season when an early discovery could be made.

Off to work!