Lethal,

I am a bit puzzled about the NR as well with its wording (italics). Note that the inferred is about 1/2 od the indicated( 0.635 B tonnes). Also it's customary for the consultaing firm to say something similar to the wording in italics below anyway to protect their reputation. The question is why raise the fuss about the inferred amount to put doublt in people mind. WE know how to treat the iinferred amouunt anyway without the company reminding us again. The was a company (don't recall the name) that was taken over by another one and the deposit was all in the inferred category.

Another example of being ultra-conservative. "If you have it, why not flaunt it".

goldhunter

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Magpie – an Iron-Titanium-Vanadium-Chromium Deposit
The 46.72% owned Magpie Iron-Titanium-Vanadium-Chrome Project hosts NI 43-101 Indicated Mineral Resources of 635.2 million tonnes grading 42.495 FeT (60.78% Fe2O3), 11.20% TiO2, 0.30% V2O5 and 2.61% Cr2O3 with additional Inferred Mineral Resources of 293.2 million tonnes of 42.29% FeT (60.49% Fe2O3), 11.21% TiO2, 0.32% V2O5 and 2.54% Cr2O3 (both based on a 15% FeT cut-off grade) (refer to the Fancamp news release dated April 18, 2012). The Mineral Resource estimates follow the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions. The quantity and grade of estimated Inferred Resource reported herein are uncertain and there has been insufficient exploration to categorize them as an Indicated or Measured Resource. It is uncertain if further exploration will result in reclassification of Inferred Mineral Resources to the Indicated or Measured Mineral Resource categories.