napperby trenching results dimdim, how old are you? and does...

napperby trenching results dimdim, how old are you? and does your mummy know you are on the computer?

Since we have firmly established that you have no regard for company announcements, I will spell it out for you. This is "some" of what the announcement on Napperby trenching program contained:-

*With respect to the drilling problems encountered by the Company in 2005 (that's the drilling program previous management initiated and stuffed up); the trenching has demonstrated that ‘hitting’ the top calcrete unit containing powdery carnotite (uranium mineral) with high pressure air could cause the carnotite (uranium mineral) in part to be lost to the formation hence reducing the overall grade of the sample.

*The results from Trench 3 are very significant as they demonstrate the presence of high grade mineralisation (yes you read it correctly "HIGH GRADE") within what is perceived to be a low grade deposit. Trench 3 returned a 2 m thick zone of +1,000 ppm (0.1%) U3O8 over 10 m of channel sampling on both walls of the trench. A peak value of 3,460 ppm (0.35%) U3O8 over 1.2m was returned from the East Wall

*Disequilibrium between radioactivity and chemical assays has irrefutably (dimdim irrefutably means WITHOUT QUESTION) been demonstrated in the trenches. This means that downhole logging is not suitable for determining the grade of uranium mineralisation and selection of samples for chemical analyses at Napperby and that in future all samples from 2 m will be submitted for chemical analyses. (The drilling program used by previous management was incorrect for the mineralisation at Napperby)

*That using a 100 ppm U3O8 cut-off could generate a significant tonnage potential located close to the surface. (Using a lower cut off could result in significant resource upgrade)

*The assay results clearly demonstrate the presence of consistent +500 ppm U3O8 values - (the grades appear to be much better than originally thought - even better than Uranerz estimates)

*That, while the average grade of the deposit as delineated by Uranerz over 14 km strike was considered to be sub-economic at 370 ppm U3O8, the trenching by DYL has provided significant upside into locating higher grade channels within the overall deposit and that the increased U3O8 price to US$41.50 per pound will also allow a lower cut-off grade to be used for future resource estimations. (Future drilling programs are likely to result in better results than even the Uranerz estimates)

Now let's have a look at the company announcement of 29 November 2005 (this is the drilling previous management stuffed up using air blasting technique) they stated DYL collected drill sample recovery data for 186 samples and these returned an average recovery of 49.44%. An average recovery of less than 50% is unacceptable under the JORC (2004) Code. Now given the results from the Napperby trenching just reported, and the proposed method of analysis of future drilling, it's highly likely the average recovery will now exceed 50% and a JORC complient resource will result.

"The positive results generated by the trenching programme have provided the Board with confidence to proceed with the next phase of resource drilling and prospect evaluation at Napperby". Remember this new management team is very experienced in "Uranium" with a proven track record at Paladin Resource (1 cent to $5) executives now running Deep Yellow, it's not hard to guess where this is going.

The market will not reward you for what is obvious, but will pay big bucks for anticipating what's next.