You've misunderstood.
The drilling is to increase the confidence level around the existing tonnage (not to discover new tonnage). There's plenty of articles online which explain the concepts of confidence classification.
Maiden JORC was mostly inferred, tiny amount of indicated (2022):
First upgrade (June 2023) increased the amount of tonnage but also transferred existing tonnage from inferred to indicated and also had some tonnage in measured category for the first time
Second upgrade (December 2023) increased tonnage again, but also transferred more from inferred to indicated and more from indicated to measured
Also this diagram sets out the various classifications and movement from resources to reserves (I've added dates for when each of this categories were hit (or are about to be hit) for Colina.
You've misunderstood.The drilling is to increase the confidence...
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