Ann: High-grade nickel sulphide discovery at Gillett North, page-42

In my opinion Widgie is flying below the radar with the discovery hole at Gillett North.

"DHEM completed on MERC 225 and MERC 226 at Gillett North have identified a very strong conductive body ..... which is indicative of a massive sulfide body. Diamond drilling will be planned to intersect this conductive body in the forthcoming weeks."

It is my understanding that drilling to intersect the modelled conductive body is imminent. In my opinion it is a fair bet that massive sulfides will be intersected with similar results to MERC 225. Furthermore the company will not be waiting for assays to be returned (40 days) if massive sulfides are intersected - core photos and perhaps XRF estimates will be released.

MERC225 was a "discovery hole" of this massive sulfide high grade nickel orebody which is hosted in the hinge of a gently plunging anticline. Most base metal and precious metal ore bodies are hosted in either faults or fold axis hinges. A discovery hole is extremely important but economic significance is only determined from step out drilling to prove continuity and size of the orebody. If the first step out hole intersects massive sulfides over similar widths to MERC 225 at a position of 100 meters (my guess) down plunge from the discovery hole then this company will well and truly be on the radar with a share price well north of where it is now. Hopefully we will find out in the next fortnight. Tremendous buying opportunity with the most significant risk being a looming global recession putting downward pressure on the nickel price.