Ann: AGM Chairmans Statement and MD Presentation , page-13

re: Ann: AGM Chairmans Statement and MD Prese... Excellent post manjapra.
I was reading about sandfire resources and their DeGrussa project the other day. I am in no way trying to suggest Mt Hardy should ever be compared to that deposit.
However it is the history of the DeGrussa find that maybe offers plausability to TNG clipping the edge of the deposit?

http://www.scribd.com/doc/105990002/Sandfire-DeGrussa

from page 3

It’s worth noting that prior to this discovery the company had very little cash reserves and struggling when arelatively inexperienced Geo named Margaret Hawke saved the company. The Doolgunna discovery isunder about 70 metres of surface cover and was made thanks to the inexperience of youth. Like nearly all small cap exploration companies Sandfire was scorched in last year's crash. Nearly everyone was laid off,and at that point there were only three full- time staff members, including Margaret Hawke, a geologist justfour-years out of university. Ms Hawke was at Doolgunna in May when her boss, John Evans, was atanother Sandfire project, and it was Hawke who authorised the drilling of a vertical hole to allow the groundcrew to get a better look at early, but inconclusive gold and copper intersections. "She phoned me to saywhat was happening, but I found later that they had already started drilling", Evans said. How fortuitous.And it was that hole which returned 47 metres at 5.3% copper, 20.1 grams of gold a tonne, and 1% zinc,from a depth of just 93 metres.


Just shows that mining can be a tough game.
Geo Margaret Hawke decided to drill deeper on areas that had previously been drilled and been inconclusive. An extra 23 metres of drilling depth found the massive deposit.

So Sandfire nearly missed out on Degrussa but for incredible luck.
A lot of people seem to have missed the fact that copper sulphides are shown to be present at Mt Hardy, time and some luck of our own may be all that is needed to find a bumper deposit. We have only just started the drilling campaign, I can't believe how the market reacted on the first of many to come drill results.

Cheers

Commy