Sorry Mgm1a, I have been offline quite a bit lately due to...

Sorry Mgm1a, I have been offline quite a bit lately due to internet problems (couldn't even enjoy the fun today!) so not able to easily refer you to specific ASX releases re Mapawa, although without direct reference to the "gold cap" it was implied in the last couple of more detailed Mapawa ASX releases:

Of 25 Jan 2010 (.."first hole undercuts the known, at and near surface gold..."), and the ASX release of 25 Nov 2009 which refers to the "diamond drilling...intersected gold ...in a number of holes from surface to depths generally ranging from 100 - 120 metres, which were the limit to drilling...".

And of 21 October that refers to a potential resource of 3 - 4 million tonnes with a gold endowment of 150,000 - 300,000 ozs.

This enriched gold zone (the shallower gold cap) is expected to have a grade ranging from 1.5 - 2.5 g/t across the widths of mineralisation, ie amply economic into the Siana operation and therefore will provide a considerable boost to overall NPV to the current Siana valuation that has excluded it to date - the big question is whether a separate copper/gold porphyry exists in its own right that will completely change the economics for RED, and have Mapawa developed as a huge standalone (In fact DWARFING Siana) operation! That is yet to be determined.

With the way RED ended up today, maybe RED has already seen its lower price and its flown the coup for those bargain hunters, and doubters!

IMO the recently announced board room changes will also add heaps to RED from an overall market perspective, not necessarily related to anything those leaving have done wrong, but more about the perception that RED is about to change from explorer to developer - its a subtle yet powerful message to all the market that RED is doing things fine!

RED is ready for liftoff IMO!!!
(Regardless of what Mapawa brings to the table!)