Ann: Drilling Confirms Significant Ni-Co Discovery at Itapitanga, page-140

Hi J&J,
As you rightly say, CTM is “establishing proof of concept” and in my view the RC program has delivered on that, by successfully testing the full extent of mineralisation from surface to the serpentinised, ultramafic basement rocks. Mineralised zones are thinner than I was hoping for but it’s still early days. And when you compare CTM’s latest NW-SE geological cross section (from RC drilling) plotted at the same scale as the W-E cross-section from Jacare, they look fairly similar from a mineralised-zone thickness comparison. The Jacare cross-section below is possibly what the discovery looked like during its early days of RC drilling. There’s not much difference in thicknesses between the two at this stage. With further RC drilling, Jacare got a lot bigger and mineralised zones increased in thickness as well - see below.



Yes, Itapitanga is considerably smaller than Jacare when comparing the areas magnetic signature. That said, note how CTM now has added a western target which RC drilling may establish is a possible extension to Itapitanga (pending assay results).

I don’t remember seeing any hand auger results of this new western target?? ​

Also note the RC holes (pending assays results) drilled west of the southern prospect...…

As Itapitanga’s RC program progresses, Itapitanga will continue to grow in area and hopefully mineralised thicknesses increase as well, further “establishing proof of concept”. I agree with you that “other areas with higher mag signature could surprise with deeper and possibly higher grade”. Fingers crossed on this one and let’s hope the stronger magnetics in the northern part of the northern prospect and southern prospect, don’t simply translate into the ultramafics being closer to the surface, therefore reducing the prospective thickness of potential ineralisation. We are going to find out very soon.

And then the cross-sections below revealing how large Jacare ended up being after all the drilling.





Kind regards OldGeo