From June presentation-
Since then KORES (Korean government) has paid 3/4 of drilling costs, although they get to decide where to drill which is a little frustrating and has not been fruitful. Sentiment is when SAU target their preferred sites we may have more luck and we certainly have the cash to do this.
- Excellent jurisdiction, including significant government support
- Proven gold endowment but lack of modern exploration on first class ‘ring of fire’ geology
- Excellent geological and management team in place with drill ready ‘near mine’ brownfield targets with drilling already started
- Underground access has begun at Taechang and Weolyu South with options for mine development scenarios actively being considered
- Drill results from Kochang due in a few weeks (post KORES review)
- Follow up drilling on historical intercept KC84-2: 2.5m @ 17.4g/t Au from 63m and 2.4m
@ 1,763g/t Ag from 97.6m at Sanpo Mine
- Potential for near term production at Taechang (and elsewhere)
- Incredible blue sky / discovery potential at Weolyu
Sorry on my phone but plenty to read in the last six months of announcements including a good podcast link discussing South Korea.... which of course is one part of the company but personally the most exciting.
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