A quick comment on today's' ASX release fellow shareholders....

A quick comment on today's' ASX release fellow shareholders. Excellent grades and also consistently high for most samples, which is most pleasing. Interesting that there is little silver in these samples, compared to Humaspunco. There will be some geological reason for that in terms of the sequence/paragenesis of mineralisation in the whole area and is something for Ross to ponder on.

This mineralisation is clearly structurally controlled (in brecciated material with the mineralisation forming the "cement" that surrounds the brecciated country rock). The vein/breccia orientation is essentially consistent with the regional structure, as you would expect. It will be interesting to see which (of the obvious many) deformation events this structural control is. Is it a late stage in the mineralisation process or earlier? How does it link into the observed structural controls and mineralisation stages at Humaspunco/Pinto etc?

A couple of points to remember in this, before we get too carried away. First the channel samples are generally of narrow veins (less than 1 m) and so we are going to want to see multiple veining (stockworks) to give the tonnage that you want. Second, this is very early days and there has been very little mapping and field work to see if the broader area (including and between the 3 "mines") is also prospective and mineralised and whether it is part of one mineralised system. That will be the key. If the whole area has repeats of the mineralisation then they could have something very attractive here.

The ASX release notes that there are more breccias in the area so it will be critical that the company gets a good feel for the frequency, orientation and relationship of these and whether in fact they are part of one larger mineralised system. Looking at Figure 1 in the ASX release, there appear to be a number of other breccias at Torrepata and so it will be most interesting to get some advice on whether these are mineralised and what the relationship might be with the ones already channel sampled at the Torrepata mine audits. The reported grades at Torrepata are not as high as at Vilcapuquio, but I guess at least half of the 25 samples did have grades that are potentially economic.

So yet another tick in the box but still a long way to go. What is clear, is that the whole area that ICG have picked up is highly prospective and the potential for it containing a company making deposit(s) is still high. As always, further exploration is needed to advance the understanding of the mineralisation and whether we have a mineable resource, but I am content with what I am seeing and look forward to further exploration results.