Ann: Greater Duchess Exploration Update - 41m @ 1.8% Copper, page-43

What a load of rubbish posted about the announcement today. Goku thank you for your sensible reply. My computer has decided that HC is an insecure threat and blocked my access so posting from a phone.

Carnaby are drilling out and extending Mount Hope to ensure they can generate a JORC resource in the first half of next year. Enough has been done to generate JORC resources for Mount Birnie, Nil Desperandum and Lady Fanny. They are also looking like being able to possibly include Bourke and Wills.

Mount Hope has a very high grade zone of chalcocite 3+% Cu and chalcopyrite. Many old mines around the district operated on 20 to 35% Cu direct shipping ore from chalcocite or black ore. It does not take many tonnes of high grade chalcocite ore, combined with the 1-2% chalcopyrite ore, to create a JORC with an overall substantial grade.

The significance of the intrusion related mineralisation should not be missed. The intrusion is widest in the gap between Mount Hope Central and North. This is where the strongest IP anomaly is. The first drill hole in the gap did not hit the sulphide indicated by the IP. Watch this space because if drilling finds that anticipated sulphide along the brecciated intrusion margin, and within, this could turn into a scale we are dreaming of. The copper at Mount Hope Central and North appears associated with the intrusion in an integral manner.

The strong down dip extensions at Mount Hope will add substantial tonnes to any JORC, high grades add tonnes of contained copper metal. There is no doubt an open pit followed by an underground mine is the anticipated growth pattern. Also the likely approach at Lady Fanny and Nil Desperandum.

We have been so overwhelmed by drill results of high grade, good thickness and starting from surface that they no longer seem anything but routine. They are not routine, look around at other copper results being reported by other companies. If you can see anything equivalent in Australia please let me know. Add in a railway line to the local processing plant and a nice safe jurisdiction.

The JORC will draw a line in the sand and the drilling strategy is currently to maximise the quality of the JORC, tonnes and grade, with a few holes going for the next discovery. Unfortunately the hole at Duchess hit drilling problems and proved little. The Mount Hope gap, Ivanhoe West and Lady Don mineralisation weren't hit in the first hole and will need more work. Shamrock was interesting but follow up will be low down the order I suspect.

All in all a good set of drill results for Mount Hope aimed at maximising the JORC and delivering a mine development project for Carnaby shareholders next year.

DYOR. Not investing advice.