Ann: Multiple Commodity Targets Identified at Pharos, page-7

I am no geologist, but dolerite is often the host rock for gold lodes and they will be looking for those “veins” or intrusions of gold bearing material. Suspect their comment around not finding gold is just that and they will want to drill some more to establish the dolerite mass and whether there is enough gold present to be viable. Certainly expect some pockets of Fe within the mix.

I agree with you that the proximity to Iron Ridge and other Fe deposits makes a high grade iron ore find more likely and then it will be more a question about quantum and cost of extraction. There are significant gold deposits to the south and of course Mt Mulcahy (interesting but not big enough ) so it is likely they will find more but Mt Mulcahy demonstrates to me that the issues will be about quantum of find and how easy it will be to extract. I am holding a small amount of SCN for the iron ore; anything else would be a bonus.

As I said earlier, I am not a geologist so could be way off here.