update andewa, page-23

I think this is a very good update.

It's obviously a very technical report with a huge number of unanswered questions which does require geological knowledge to understand properly. I think it's like this because of JV arrangements, so that there is no potential for BS interpretation. The reason obviously is that its lacking hard core assays. That said, it's by no means a "Claytons" report. It's exactly what the announcement title says, "Andewa Drilling Update" and probably influenced by many holders contacting Peter for any information.

The last time we had this amount of core on display in an announcement we actually received some pretty good intervals. With a little luck we may expect the same out of these. It's very hard to estimate grades especially gold in these systems, but some of the breccia looks pretty good.

There are some big positives to take home from this report. The main one is that it's obviously mineralised almost everywhere with variable alteration. They just need to get into hotter areas of the porphyry near the potassic alteration to find stronger grades. IMO south of ADH014 is the best bet. In any case the big positive is that IMO there is ample evidence for the potential of a major discovery nearby. Importantly, for FNT this means that Newcrest will most likely keep on funding the exploration.

The other positives are more obvious. Peter will release results on a hole by hole basis. It's interesting that all the pending assays to date at Andewa are relatively near the ADH001, the best hole so far.

Another positive as germainst pointed out is the drilling of the first hole in the Ekhos prospect. This is a total wildcard which certainly would have been drilled much earlier if access up to there would not have been so difficult. This is a huge unexplored circular feature with some amazing surface indicators.

Sometime during the next week when I have time I will have a go at plotting a section along a plane of the ADH014 and 15 with the rocktypes and alterations and try to make sense of the 3D-IP. I'll post my results.