Hello Glorieux,

Your math exercise, even just for fun, is a good one. I am trying to do the same thing based on whatever information that is available so far, with some guesses thrown in.

Got a few questions and comments:

- Pipe #1, 2 and 3: Presumably, Pipe #1 is the 500-m breccia pipe that we have the results for the first 9 holes, based on which one can attempt to have a first/someone could say wild guess of the size of the deposit, e.g. 10 M tonnes (with no guaranty what-so-ever). Do you know where the other 2 pipes are located? Are they within the picture (geophysics) on ZEN website, or elsewhere?

Note, there is a small (approx 100-150 m diameter) pink area on the north side of the 500-m pink blob containing the 9 drill holes. Could this small blob be pipe #2. And the #3 pipe is located at the bottom corner of the page (a wild guess from my part). Anyone else has the answer for the location?

- 10 M tonnes: 50 M tonne deposit is very difficult to justify, given the current drill results. The 10 M tonnes could be within reach if ZEN continues hitting consistent (in-fill and/or step-out) results in the range of 4% grade (which is good enough for graphite with excellent purity, i.e. there is no point to claim the best grade in the world if the graphite has poor purity which fetch low price).

A few more holes in addition (say another 9) to the first 9 would get us busy doing the simple math for an estimate with more confidence behind it.

Cheers,

goldhunter