Ann: Wirlong Intercept Returns 17m @ 4.59% Copper, page-22

The share price "correction" as it has been suggested is probably on the basis that hole 44 appears to have been a duster. All the other good news in relation to current activities at Wagga Tank and Mallee Bull/T1 probably wont be reported for another 4 weeks so one or two punters are selling up.

It is reported that hole 44 was down hole surveyed for EM conductors - we are now awaiting the report of the interpretation of the DHEM as well as assays. I am a betting man and I have my money on there being a strong off hole conductor in hole 44 at a depth of 900 meters below the surface. That would be 300 meters vertically below the 17m at 4.5% Cu intersected in hole 43. The probability that hole 44 has missed the lens doesn't mean it isn't there - small drillhole deviations combined with subtle variations in the dip, plunge and strike of these lenses mean they are difficult to pierce at downhole depths of 1150 meters.

Still on the theme of me being a betting man I reckon the Wirlong lens we hit with hole 43 is 80m plus along strike.

What does it mean for shareholders and potential investors if hole 44 DHEM shows a strong off hole conductor? Well if the 17m @ 4.5% copper is continuous between hole 43 and slightly off hole from hole 44 then it means the company changes over night. That would represent in excess of 1.2 million tonnes of ore based on geometry alone. At 4.5% Cu that is 55,000 tonnes of copper which is equivalent to 250,000 ounces of gold (USD$310 million).

I recommend shareholders don't underestimate the importance of the soon to be reported DHEM interpretation for hole 44.