Hector - we9smia, page-2

Sure - Still at work so here is the quick run down. As a geologist - you have access to all the facts and figures. As a share investor you get to see a few snippets. I do not have all of the data in front of me so instead of going out on a limb I prefer to stick to facts and that which I know – I will let others comment and speculate (and sometimes in fun I will play along). I have commented on the rocks because I specifically know them and I think it adds value to our group. With regards to soil geo chem – mapping surface structures etc., you really need to look at all the data speak with the Geologists and still be prepared to be disappointed when the drill bit comes up empty. I know it is a cop out, and my response will disappoint but I have seen too much failure to raise expectations. Without ramping at all – like you I think that the signature looks good (didn’t they throw down some drill holes out there ??) What I can say for sure is that the area is very exciting and I expect that if you spoke with the Geologists you would hear that it was very complex as well. Some of the Flinders Uni PhD students went into the Gawler Volcanics 15 – 20 years ago before it was sexy and yep – it is not simple geology by any means. Much of the targeting and vectoring will be hit and miss with learning along the way. The Geology team will not disclose some of the techniques used to identify targets (and some Geologists will not disclose to team mates if they find something that works – they will use that as personal IP on the next job etc. – ever wondered why some Geologists are lucky??)
I will let the drill bit do the talking, the ground is very exciting (it is elephant country). FYI the first DDH at Olympic Dam hit Ore – they had quite a few dusters before they hit the main Orebody and even then it has taken another 20 years to drill it out properly and even today it is getting bigger. From the looks of it we are in a similar but smaller boat. What I can say is that as soon as I saw the rocks i.e. physical proof I jumped all in and have freed up cash for the assays I expect AU (if I saw these rocks at OD I would expect AU).

PS – don’t worry Mining Engineers hate Geologists as well – they just want black and white answers.
PPS – if IVR does hit it big then Musgrave will get the halo effect IMO.

Good luck to all we are in for an exciting ride.

From First Hole to mining can take 10 years...