Guys all we can go off is what has been reported by the Co...

Guys all we can go off is what has been reported by the Co yeah??

I have been very bullish on this play all year, and now don't hold stock due to being stopped out during the retrace after news started flowing from assays. CLA is still top of my watch list. I'm enjoying the story so far.

The first drilling update (26 March) stated they had intersected the DOF (6 holes) and stated widths of the hits, only to have these largely reduced when the final assays were released (20th/27th April), due to the cut off grade used 500ppm. (.05% Co)

The 26 March Ann also stated:

The DOF horizon intersected in drilling is a carbonaceous and dolomitic black shale (Figure 2). Drill chips from the fresh DOF horizon below the zone of oxidation contained several per cent sulphide minerals with up to 10% sulphides in individual metres. Visual inspection of these intervals by the Company’s consultant Brendan Borg has resulted in a provisional identification of cattierite (cobalt sulphide) as the cobalt mineral, to be verified with assay results and mineralogical studies.

So I was confused when I didn't see "several %" come in with the final assay, anyone else??

The company also believed the area to the East of the historical drill holes DOF01/02 could hold the key to higher grades, see below Ann 26 Feb stated:

Drilling will also provide a first test of interpreted DOF positions under shallow cover. Ultra high resolution aeromagnetic data (as shown in Figure 3) indicates that there are a number of NW-SE structures in the central DOF where the horizon is masked by recent shallow cover as well as folding of the horizon, with both processes hypothesised to be potential  for enrichment of the cobalt mineralisation.

Results in and ..... DIP -55 (rig angle) DOFR05=4mtr, DOFR07=4mtr & DOFR09=5mtr DOFR11=5mtr

My back of an envelope calc using the information provided by the Co so far are as follows: I'll use 2 as SG number to keep punters happy. 6Km strike as per the known numbers. Dip -55 closest true known thickness.

Back of envelope numbers
To Date:
L6000* W4.8* D100* SG2 = 5.7Mt (@ 3%CuEq)

Full DOF if proven:
L32000* W4.8* D100* SG2 = 30.7Mt (3%CuEq)

Question for punters: Is it feasible to mine a 32Km channel 100m+ deep for a 4mtr thick resource? Genuine question.

JW