high grade molybdenum results, page-4

Resource estimate due tomorrow or next day.

I'm going with something between 125MT ish - 225Mt ish.

Big variation but it's from the most conservative to most bullish for me. Not sure what depth they are going to for the initial JORC (they state 600m) and the width is variable, but I'm assuming 100m average by the cross sections.

In regard to the 'high grade' the Mo zone in the middle of the Cu/Au halo, is world class and probably rates up there with the Henderson Mine.

Comparison:

The Henderson Mine (Phelps Dodge) near Denver Colorado is arguably the richest Mo mine known:

-reserves around 160 Mt @ 0.35% MoS2 (No other significant economic metals)
-mineralisation starts ~1,000m below surface
-ore zones generally 5 – 30 metres wide

Kalman early down hole drill results:

-73m @ 0.62% MoS2 Eq
-329m @ 0.31% MoS2 Eq
-mineralisation starts within 20 metres of surface

Then add those latest results for more perspective:

-43m @ 0.27% MoS2 from 200m in K-56
-53m @ 0.61% MoS2 from 255m in K-58
-16m @ 0.31% MoS2 from 191m in K-59
-24m @ 0.24% MoS2 from 239m in K-61

While the high grade Mo zone will be lower tonnage (at the moment - might have to add in the new finds to the south around Pelican) it is very very high grade.

They are destined to have a partner in this project I think, farming in with the cash to take it to production.