Ann: Crake Gold Project Continues To Grow, page-15

Lithology of Boorara is similar to Mount Charlotte. Mount Charlotte grades at the shallow end were similar to Boorrara but improved with depth.. Mt Charlotte had incredible depth, I recall about 1200m. At this stage we have one deep hole drilled which indicated there is gold minearalisation but the grades were not great. Management has said that will the right drill orientation we should get better grades but there were no subsequent deep hole drilling to confirm that and I think market is skeptical. These deep hole wells are significantly lot more expensive than the infill RC drilling i think they are like $200-400K a pop..

So the jury is still out whether Boorara could be another Mt Charlotte in my opinion. But if it is... KCGM has about 8 years mine life left, I sure the new owners will be keen to argument anything tenements that could potential extend the life of that tier 1 - gold mine.