Ann: High Grade Cobalt Intersected in Drilling, page-2

HIGH GRADE COBALT INTERSECTED IN DRILLING HIGHLIGHTS

 Reconnaissance drilling intersects high grade cobalt near surface
 Prospect lies 40km east of the major Goongarrie Ni/Co Project of Ardea Resources Limited
 New cobalt prospect to be named Scotia East
 Drills results include
- 7m at 0.21% (2,140ppm) Co from 7m downhole in NCB0024
o Including 1m @ 0.42% (4,244ppm) Co from 8m downhole
- 11m @ 0.16% (1,574ppm) Co from 3m downhole in NCB0023
o Including 2m @ 0.33% (3,268ppm) Co from 4m downhole

 Further extensive areas of interest identified for drill targeting
 Geological setting similar to other Ni/Co projects in the region
 Very shallow depth and high Co to Ni ratios

Not a bad ann, including this bit:

ABOUT THE COBALT MINERALISATION
Cobalt is hosted in a saprolitic clay horizon developed over an ultramafic package, similar in style to other projects in the region. However, Scotia East may have key advantages due to its very shallow depth, starting at just 2m below surface, its high grade, up to 0.4% Co, and its consistently high cobalt to nickel ratio.
Mineralisation is developed over a NNE striking ultramafic belt approximately 2.6 km in length, with a gabbro package to the east and a granite (or possibly leucogabbro) to the west. This represents a large target area for follow-up drilling.

See where we get to today.