Ann: Mount Thirsty JV Exploration Update, page-109

Hi OldGeo,

II did some further investigation into the possible PGE grades at MTJV001 (MTDD001?) via the various GAL and CNJ announcements, including the GAL ann a week prior to the “Major Palladium-Platinum Discovery at Norseman“ ann on 11/5/22. That one is dated 4/5/22, and is titled “Drilling Hits Nickel and Copper Sulphides at Norseman”.

For MTJV001, my calculations predict an average PGE grade of approximately 2.74 g/t 3E over the full 65m disseminated sulphide interval. This is made up of 43m @ 2 g/t 3E, followed by 3m @ 5.44 g/t 3E, followed by 19m @ 4 g/t 3E. It also highly likely that there will be several individual 1m intervals with significantly higher grades, and values exceeding 10 g/t 3E would not surprise me in the least. Your thoughts?

Of course, and as I have already stated previously, the overall metal value for the entire 65m interval should be much higher than any of the intervals reported so far by GAL at Callisto (the rhodium assays in MTJV001 should also be a fair bit better than those at Callisto, but this is a lot more uncertain).

Please bear in mind that the above calculations are only a rough guide to what I expect to see in the official assay assay results from the lab (due this coming week?) and they could vary significantly, especially in the top 43m interval, which is likely to contain quite reasonable nickel grades (approx 0.3 % Ni) but perhaps somewhat lower copper grades (0.1 % Cu).

Having said all of the above, we will obviously have to wait for the official assay results, not only MTJV001, but probably from all 20 holes in the Phase 1 drilling, before we know exactly what treasures CNJ and GSR have found within their MTJV tenement.

Looking forward to your thoughts!

Best regards!