WE ARE ACTUALLY DRILLING, page-38

Blue Swims ....let's not get ahead of ourselves!! As you correctly state most of the NDI holes were for stratigraphic reasons, although hole 4 also was to test mineralisation potential of what was a very strong magnetic feature. However, I think it is not only premature but counter productive, to be talking about economic grades in a stratigraphic hole.

Fantastic that the hole intersected considerable disseminated mineralisation across a large intercept .... but remember a lot of this was not only chalcopyrite but pyrite (yes an iron sulphide but essentially of no value other than to tell you that there are sulphides in the system - and that is important) and arsenopyrite (which may or may not have associated gold) which are NOT copper.

I have no expectations that this hole will assay significant economic copper intercepts (although I fully expect shorter intervals of nice grades), however what I am looking for will be whether we have anomalous readings over large intercepts. I am also very interested to see if there are any anomalous gold readings, possibly associated with the arsenopyrite. That for me will be a big tick, especially when you remember that NDI hole is essentially drilled on the margins of one of our priority 1 targets - RP-FFE-02.

So the assay and thin section (and other research being done by GA/NTGS) work will be important for us and it will certainly add to our geological knowledge and possible understanding of the genesis and nature of the potential mineralisation system(s) that we might have here, but I do not expect it to be a game changer in its own right!! Equally importantly - and probably of more importance - will be the detailed logging of the core from both the NDI holes (NDI holes 1&4) on Frewena Far East by the IOCG expert. That I am really looking forward to seeing, partly because I am both a little perplexed by what the geology might be suggesting and constrained by not having had the chance to see the core in person and being restricted to looking at photos. Whilst I am seeing hematitic alteration and prospective basement rocks (granite, gneiss at depth) that show some IOCG type characteristics, I am also possibly seeing graphitic shales/schists - which may or may not be metamorphosed black shales and those you invariably find with big SEDEX type deposits. By way of example, Mt Isa - and its associated Hilton and George Fisher SEDEX Tier 1 deposits all sit (all within a 20 km distance) in the Urquhart Shale which is a black shale.

So perplexed or not and whether we could have an IOCG or SEDEX depositial environment - or even both, it is a good place to be in and I am waiting (not very patiently) to see the results of the assays, thin sections and core logging. The next few months as the company pushes ahead with further exploration will be both exciting and telling.