This is probably some useful information to keep "in front of...

This is probably some useful information to keep "in front of mind" as the news flow for Rosario starts (well I assume it will start "soon" - first drilling for Rosario has to start otherwise nothing to talk about (IMO))

# 1 Rosario is a shallow OXIDE prospect - we are not chasing a deep porphyry or a polymetallic deposit. It is Copper Oxides with maybe some silver (we'll see if its "payable" or not down the road)

#2 These exploration holes are likely to be all in the 50m - 100m depth range ... so call it 75m avg. Estimating maybe 30 holes at RET for around 2,000m ... and hopeful that is all on RET with another 3,000m over the central trend and west trends. All up 5,000m which at ~US$80/m for RC drilling will come in under US$400K. Toss in Assay work on 80% of meters drilled (going with highly prospective acreage) that 4,000m at ~US$30/m ... so anoher US$120K, add in QA/QC duplicates at 10% and there's another $52K plus contingencies say 10% and on site help (say 2 assistants @ US$200/day x 30 days) for $12K plus overall G&A and I see a budget that could consume ~US$640K round it to AUD$1M (or 25M shares or 8% of the company's market cap). I'm probably overstating the cost and scope, but you get "costly" this can be to the company's capital structure.

#3 It might be enough to get an Inferred Resource. The spacing is not tight enough for an Indicated Resource which for a sediment hosted deposit - it needs spacing in the 40 - 80m range whereas I've got it at ~100m initially ... makes infill drilling simple if we have a fairly uniform mineralization.

#4 This is really important - we have a Copper Oxide prospect. The TCu% grade is "half" the critical number. It defines the total potential copper (all forms including soluble, acid-soluble, and refractory copper) available in the ore body which is critical for determining the size and overall value of the deposit. The other just as important "half" when you have an oxide project where heap leaching is going to be used is Tsol% (Total Soluble Copper) which is that fraction of copper in the ore recoverable through the heap leaching process (acid-soluble copper that can be extracted with leach solutions).

So while TCu% is fundamental to resource estimation, Tsol% is key to the economics of a copper heap leaching project. If the TCu% is too low it wont matter what the Tsol% is because the total potential copper is too low to warrant further investment. But then if Tsol% is to low (no matter the TCu%) then the project becomes too costly as Tsol% is the economic measure of recovery/efficiency (but in comes out of met test work). I'm not sure if JORC mandates that Tsol% be disclosed in a JORC resource, but I'll say if it is not included, the disclosure practices of the company are questionable - because oxide deposits where heap leaching & SX-EWs dependent Tsol% is critical in assessing recoverable copper.

That's the beginning of the parameters needed for investors to begin to understand what the value of the project can be. Plenty more parameters/scenarios but those 2 percentages along with the strike length/width/depth are the critical starting points (IMO).