Hi fellow shareholders ... a positive announcement today and...

Hi fellow shareholders ... a positive announcement today and what was encouraging was some of the average grades reported for the mantos in hole 12. Average grade of around 7.5 % Pb-Zn combined and over 60 g/t Ag (over 2.4-3.5 m) is pretty close (but pleasantly higher) to what I postulated back in December last year and not far off the channel sample averages. The fact that they had a plus 14 m intercept of plus 2.4% Pb-Zn and 24.4 g/t Ag (essentially immediately below the manto mineralisation) is also positive. The grades are lower but this is probably a result of oxidisation/weathering.

The fact that the residual Ag grade is pretty good is encouraging, especially when you remember that the Ag is generally tied to the lead and whilst the lead might have been "washed ' away, it is suggestive of what could be there if, and when, they hit primary sulphides. You have to keep in mind the variably nature of the mineralisation (as also shown in the variation in specific sample grades in the channel samples), so it is to be expected that we will continue to see this variability, especially in the weathered/oxidised part of the system. Also good to see pretty good silver grades and it is clear that they are associated with the Pb (galena) - as you would expect.

Also a positive to see that the Callancocha fault/feeder zone has demonstrated multiple phases of movement (as demonstrated by brecciation and cross veining) as you want to see an active system with multiple phases of mineralisation. I found it interesting that they now report the presence of mantos within the Callancocha zone, and I will ponder on that further. I also note that they are yet to report assay results for hole 12, for the zone below the reported 2.4% Pb-Zn zone and it will be most interesting to see if grade increases in this zone (which if weathering is reduced could be expected).

Clearly the prospectivity of the project is increasing and you can sense the excitement of the geologists on site in the ASX release. The Callancocha zone is emerging as a primary target (in addition the host of others) and the sheer size of this zone suggests the potential for something of serious value. The market clearly does not fully understand the geology or progress of this project and I suspect will not reward the share price until there is a "breakthrough" drill result. Whilst that is always a possibility - in terms of a quick result - I am still very satisfied with how this project is developing and building.

As I have previously said none of the fundamentals have been called into question or challenged and everything they report just adds a little more, in a positive way, to the jigsaw and increases the project's potential. I know that it is hard, especially when the market does not 'reward" apparent good news, to stay positive in light of the various negative comments that the ICG site occasionally attracts, but for my money, we continue to advance the project and I remain positive of the final outcome.