Ann: Bodangora Goldfield Exploration Update, page-20

When MAG started drilling Dicks Reward and Mitchells Creek, it was apparent that their focus had moved beyond finding just Porphyry, and more towards finding any resource that might be commercial.

I believe this was a valid decision, given the high cost of deep diamond drilling, and the limited capital that a small explorer has before dilution devalues them. If the porphyry is not found quickly, the capital raising leads to billions of shares on issue.

Stavely Minerals made a similar decision after a period of trying to find the needle in the haystack - and while they may yet find the porphyry system, they have made their primary focus on drilling out a smaller higher grade resource that should allow commercial development in its own right. If the porphyry is later found, all the more options available.

One might even go so far as to ask whether Porphyry systems are beyond the reach of small explorers unless they hit them very early in the drilling cycle - or are highly cashed up.

While Mitchells drilling results are not wonderful, they are a systematic start, and worthy of further effort in my opinion.