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The Cayley Lode Discovery
The Site Visit
● Oxidised and low pH = great metal carrying capacity
● Low-pH, hydrothermal fluids had dissociated and produced
HS and HCl = higher up in the system
● The metal was there –
● 7.7m at 4.14% copper, 1.08g/t gold and 77g/t silver from
94.7m
● 9.5m at 2.93% copper, 0.45g/t gold and 42g/t silver from
154.6m
● The conclusion was that:
● Thursday’s Gossan was a very large hydrothermal
mineralising system
● Fluid composition was very favourable
● There was good metal in the system
Pre-IPO conceptual model included in 2014 prospectus
● Likely driven by a fertile porphyry at depth
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