Who's selling, who's buying, page-36

Where do you start and where do you stop?
Cap-Ex the owner of the lease before M3 Metals did surveys on the lease to determine the extent of mineralization. It looked at both the magnetite and the DSO before concentrating on the magnetite in order to get a viable PEA. The PEA concentrated solely on part of the Greenbush area. This part area showed 7.2 billion tonnes at 30% FE. This has since showed to be 16.6 billion tonnes. I do not know whether this is all the Greenbush area or still only part thereof.
The PEA was produced and at the same time the iron ore price collapsed. Cap-Ex then started to look at the DSO as an alternative.
There is still significantly more iron ore on the property. To the north and south of the Greenbush area and in the North West zone. The long tail of the lease I am unsure of as i believe it runs down the Howell's river valley. I have to find a claim map that sits on a topo map. All ridges in the area show up as Sokoman formation which is predominately iron ore.

To date Cyclone has concentrated on the magnetite, supporting the viewpoint in which they acquired the block. (1) Quantity, (2) Quality, (3) location.
The neighbouring properties have similar quantities and qualities and the same locale but mining would be difficult in their swampy conditions.

In 2008, MPX conducted a magnetic survey over Cap-Ex's Block 103 mineral claims.

Completed on line spacing of 100 metres and at a terrain clearance of 50 metres, the geophysics covered 666 line kilometres focusing on both the strongly and weakly magnetic horizons that lie on strike with known iron ore deposits of two types:
1. Magnetite ore, such as the KeMag and LabMag deposits, on strike to the north and west, which together contain a 9 billion tonne resource grading 30%Fe.
2. Hematite or direct shipping ore ("DSO") deposits , on strike to the north and south of Block 103, which together contain a 100 million tonne DSO Resource.

PGW processed and interpreted the raw data obtained by the helicopter-borne magnetic survey completed by MPX. In their interpretation report, PGW concluded that:"Block 103 block covers some of the most intense positive magnetic responses in the iron ore belt. This is a good indication that the volume (and possibly concentration) of magnetite is higher than in most parts of the belt.""Several magnetite horizons show positive responses in the 10,000 to 14,700 nT range, which bodes well for iron ore deposits."

PGW also conducted geophysical modeling of five separate zones with the highest magnetite content. The geophysical modelling indicates that magnetite rich zones are situated close to the surface with grades up to 41% magnetite. The digital elevation data also shows there is good correlation between the ridges and the magnetic horizons. This is likely due to the magnetic-bearing horizons being more resistant to erosion than other hematite DSO horizons.

In addition, it has been interpreted by PGW, that the weakly to non-magnetic horizons found on Block 103 may host iron ore in the form of hematite DSO. These DSO horizon's lie on strike with the DSO deposits and targetson the neighbouring New Millennium Capital Corp. ("New Millennium") property.