Ann: Pinnacles Drilling Completed - High Grade Intersection, page-14

It will be interesting to see what happens with the Hole to the North of Hole 40: if the numbering is consecutive, that will be Hole 46 or 47. Then we have a North trend.

I am not sure how the surface soil samples (that have been used to design the drill program) compare (so to speak) with the surface calcrete samples that are used in South Australia as an indicator of what lies below: here, at NXM, the soil samples are up around 100ppb which are much higher than the typical calcrete anomalies in South Australia used to identify anomalous gold. NXM are getting 20g/t over 4m composites, whereas MEU in South Australia are getting twice that (40g/t over 4m composites) from half the surface calcrete anomaly. I suspect that the surface soil/calcrete numbers are not particularly relevant in absolutes, and that such numbers should simply be used as an indicator of zones of interest (not for comparison), which is what they appear to be doing.

As for the Pilbara, my view is that a lot more people are going to lose their pants than make anything from the present kerfuffle.