deep drilling , page-6

Hi smallprofits, eme and others,

The report concerning deep drilling results this afternoon is significant.

As predicted, the hole delivered the goods. The first three points say it all:

• Drilling at Imbruminda zone intersects 981m @ 0.23% Cu and 152ppm Mo including 207m @ 0.51% Cu and 118ppm Mo (0.63% CuEq);



• Hole finished in high-grade zone of 29.7m @ 0.49% Cu and 699ppm Mo (1.19% CuEq); and



• Mineralisation extends at least 500m below current resource boundary and remains open at depth.

I view the third point as most compelling. If similar results come in from Gremi (expected during the next few weeks) the probability of doubling the size of the resource is very high.

I urge those interested to take a close look at Figure 2 in the announcement.


This is massive - and still open at depth.


The existing (soon to be upgraded) JORC compliant resource reported for MGO's 100% owned Yandera deposit follows:

• Indicated Mineral Resource of 527 million tonnes @ 0.38% copper equivalent, for a mineral inventory of 1.49 million tonnes of contained copper and 122 million pounds of contained molybdenum;



• Inferred Mineral Resource of 766 million tonnes @ 0.33% copper equivalent, for a mineral inventory of 1.91 million tonnes of contained copper and 140 million pounds of contained molybdenum; and



• An Inferred Mineral Resource of 1.29 billion tonnes for by-product metals of gold, silver and rhenium (not included in copper equivalent) for a mineral inventory of 3.3 million ounces ounces of gold, 56 million ounces of silver and 2.9 million ounces of rhenium.

Hope you find this post useful.