cobalt breaks 23,800, page-121

Might be worth reading the annual reports Platx/Mark Creasy have submitted to the WA Department of Petroleum and Minerals. In doing so I don't believe Platx's tenements have identified the massive Nickel Sulphites deposits that Mt Thirsty have - at least this hasn't been reported! These have occurred adjacent to the Footwall and Platx have had limited exposure to this (refer map of footwall below)

What we do know is they (Platx/Creasy) have identified the following:
"AC drilling at the Mt Thirsty Co-Ni-Mn oxide resource interpreted a potential +0.06% Co resource outline with grades of 0.13% Co, 0.64% Ni and 0.80% Mn containing in excess of 12Mt. "

With this we have:
15,600 Tonnes of Cobalt
76,800 Tonnes of Nickel
96,000 Tonnes of Manganese

Add with Mt Thirsty's resource:
40,000 Tonnes of Cobalt
177,000 Tonnes of Nickel
274,000 Tonnes of Manganese

Total BAR/CNJ/ PLATX:
55,600 Tonnes of Cobalt
253,800 Tonnes of Cobalt
370,000 Tonnes of Manganese


As mentioned Platx/Creasy have spent $369,000 over the last year on their tenement and while that may be loose change to him these days it still to me at least sends a clear message. How does it make sense to spend that sort of money on the tenement yet say they are not serious about developing the ground? Like wise with CNJ/BAR in whom I would assume would have completed an open pit optimisation study on the Cobalt deposit - with further drilling to commence any time now. To me again this doesn't send a message that they are not serious about developing the project. Quite the contrary.

Platx over the last year have also aquired more tenements directly to the south of Mt Thirsty.

One other interesting point that I have missed is a Conico/Tasman geologist appearing as an Author on Platx's 2009 Annual Report to the DMP. This was the year in which extensive aircore drilling was done to achieve the results mentioned above.



Footwall defined in red. CNJ/BAR tenements displayed: