exploration update, page-6

The prescence of carbonaceous (ie. electrically conductive) black shales very effectively explains away the VTEM electrogeophysical anomalies that were the drill targets at Marymia.

ie. the subsurface geophysical 'conductors' targeted were not the rare and unusual base metal sulphide bodies that had been hoped for, but common-as-muck black shales.

That is the usual negative result with EM geophysical targets, and is exactly the same result that Sipa got from all the VTEM targets that they started drilling on their adjacent ground last year: they were all just the usual carbonaceous black shales, so they stopped drilling them after they'd tested about ten of their VTEM anomalies with the same negative result.

As for that tiny percentage of bismuth and trace of gold in that barren-looking quartz vein, what do you imagine that siginifies in terms of economic mineralisation? Not very much, I can tell you.

But anyway, the market likes the Ned's Creek story for now, so we live to fight another day.

Here's hoping..