Ann: Phase II Drilling Campaign Commences at Cangai, page-29

A bit of historical context. At the time this mine worked an economic cutoff would have been 5% Cu. Ore would have been hand sorted. See the historical description of the mine kindly provided by mt88 earlier in this thread. Mostly high grade oxide ore was processed with little of the sulphide ore being of high enough grade.
Note the mine closed in 1917. This was a time of sustained metal price collapse that went for several years and saw most metal mines in Australia close.
The technology now is an order of magnitude better (~0.5% Cu cutoff). 1% Cu ore is currently worth ~$A80 per tonne. So one needs to dig up and process for less than that. 3.35% ore at $A270/t (the current resource grade), is quite valuable and easy to make money from.
I suspect the market needs to see some higher grade sulphide intercepts at depth (>2% Cu) that would double the size before getting excited? IMO the resource will get bigger but the overall grade will fall.
As I understand things they are currently drilling shallow holes to firm up the resource and confirm some of the stock pile values?
GLTAH