Ann: High Grade Copper intersected at Horse Well Prospect, page-326

So what did we all learn in the last few days from the deep IOCG drilling by CHK in SA in the last few days? Back in late Jan early Feb there were many sceptical posters, and a few posters suffering from confirmation bias that saw two or three core photos of 20-30cm lengths of core and projected/interpolated that out to wide economic mineralisation over hundreds of metres.

As I said in this post - the company made no effort to put these photos into context by providing more photos and by supplying drill logs with logged % of minerals and rock types where people can quantify the logged % of sulphide minerals over what parts of the drill hole, even as the hole continued drilling for hundreds of metres further, and actually intersected what must have been a very visual but narrow zone of mineralisation that was 0.8m thick, not even then did the company see fit to update shareholders with a further announcement.

Lesson learned is that a company claiming to have intersected mineralisation for hundreds of metres needs to provide more than 2 or 3 cherry picked photos, and if they don't, they possibly have something to hide. And expectation management, I expect early stage IOCG deep drilling at geophysical targets to fail, success is the exception, but I expect the company to be honest about what it has drilled.

Keywords: "cherry picked", "omission of information" "continuous disclosure obligations"