Ann: Cockie Creek broadest intersection of mineralisation CCDD007, page-33

Yes Ruff, its early days. As PH has said, "The program as planned comprises 17 HQ diamond core holes for a total of 6,650m..."

Furthermore, they plan more IP surveys as things looking good to the West. As reported, "Theincreasing width of the mineralised zone towards the west, and itstransional development in the footwall meta-andesites,indicates a deepening of the mineralising system. This is consistentwith increased proximity to a high-temperature magmac-hydrothermal system centred on a porphyryintrusion."

Perhaps formed as depicted below from past geological events. Robert Steven's book, Mineral Exploration and Mining Essentials is a great reference for those wanting more background in mining related investment decisions in order to better evaluate mineral development proposals from exploration, discovery, geology and mining.






I interpret what PH is saying, is that the IP surveys correlate well with what they have discovered with the drill. “The historic IP geophysical survey highlights the mineralisation well and, consistent with the drilling, shows a significant expansion of the mineralised zone at depth and to the west. However, the survey covers only a very small area of the interpreted 3.5km x 2km Cockie Creek intrusive complex. This bodes well IMO as PH says,

"Increasing width of themineralised zone and its development in the footwall meta-andesites indicates adeepening of the mineralising system. This is consistent with approaching acupola or “top” of a mineralised porphyry intrusion". See the diagram above and consider previous comments in the report about the wall rock.

Given SPQ is using world class porphyry geologists in the field, I would not expect PH to make the following statement unless there is real substance behind the comment, “Even though the grades to date have been relatively high for peripheral wall rock mineralisation, we are expecting the core or cores of the system to be truly impressive. I'm sticking with my fundamental view of the geology as supported by the evidence to date.