Wardley Report - WOW, page-44

Dbd. A couple of comments.
An intense magnetic anomaly does not an orebody make, unless you're in the business of mining magnetite perhaps. It certainly does not mean there must be any economic Cu-Au +/- U mineralisation there. The Canteen anomaly is indeed a strong magnetic anomaly but the source rocks for approximately 95% of the Canteen anomaly are located on the Exco (formerly NCM JV) ground, and not on the AMG tenure. NCM would have created a 3D inversion of the magnetic data so would have a good understanding of the location of the source of the magnetic anomaly in 3D space. They drill tested it and came up with anomalous values consistent with an IOCG environment, to paraphrase their reporting if I recall correctly. This does not preclude there being Cu-Au mineralisation elsewhere in the Canteen area but I would have expected NCM to have thoroughly tested the Canteen target by drilling and surface/downhole geophysics. By the way, the Canteen anomaly is located about 1 to 3.5km SSE of Mt Freda and not near Little Duke at all. Canteen is located south of Evening Star. There is another smaller magnetic anomaly near LD. The holes reportedly drilled by AMG at LD were drilled approximately E-W and W-E, not to the south.
If the mineralisation drilled at LD is indeed close to true thickness, then shareholders should be calling the BOD to account for why they didn’t test it with several more holes while they were still drilling in the area. As I said previously, I suspect that the true width of mineralisation is very narrow, and probably of limited strike length.
Can you tell me in which hole this 160m of Cu-Au mineralisation is that you mention? I can’t see anything remotely like that in the holes I’ve seen reported. Not even close to half that length.