Chart, page-1247

Hey KD,

Interesting price action today... holding up quite well... although to be fair volume has come right off last few days. Seems like it's waiting for a catalyst...some news to send it to $1 thanks... that could very well be Wilga Downs. Fingers crossed for an epic core pic!

Wrt the MLEM campaign from last year... that had actually slipped my mind. Yes they started in the JV tenement pre xmas, they completed 3 of the 7 AEM targets (K1, M2 and M3) and found no suitable conductors, which is OK as that can happen and from memory did also happen with CHN.

Looking back... I can see DEV said that when harvest was complete they were due to re-commence MLEM survey mid-Feb... to get around to the other 2 AEM blobs on their JV land...and it looks like they never did this. They were also yet to get access to their 100% owned land to the east... which had another 2 AEM blobs to survey (K3 & M1).

But then, come mid-Feb, DEV starts the 253 hole AC drill program - woo hoo... I guess we all forgot about the MLEM because we were drilling baby. Which I can see why MLEM didn't re-commence... better to drill the ground than just keep surveying... no better way to understand the characteristics of the underlying geology than drilling... which IMO has worked... as they are now vectoring into the MacKenzie anomaly. Kinsgley anomaly also looks pretty good too... so too the anomaly on our 100% side. I am however curious about the H1 anomaly... that appears to have disappeared... it was supposed to be a priority back in Feb...Anyone know?

Reality is, and I know many have said before, every explorer can do AEM and MLEM and most do... but there are an endless number that have hit dusters... no mineralised sulphides... so IMO the best bet is always drilling...ideally AC to start... then RC / DD to nail it. Unless you are super super sure like CPN... go straight to DD.

I keep reminding myself of this comment from DEV / CHN... "Recent work by adjacent explorers in the Julimar region (notably Chalice) has shown that widespread zones of PGE mineralisation associated with disseminated sulphides occur within the mafic-ultramafic rocks at Julimar. Given that disseminated sulphides do not usually create good conductors, targeted drilling is warranted beneath the near-surface geochemical anomalies to identify these zones"

Looking back at the CHN 23/3/20 announcement... they found Julimar by starting their exploration with.... "200m-spaced Moving Loop Electromagnetic (MLEM) with selective 100m infill lines, targeted soil geochemistry over high-priority MLEM conductors, and geological mapping which failed to identify any bedrock exposures over the area of interest."

So interesting that CHN with all that activity failed to find anything worth drilling... initially...

But they persevered and eventually found two MLEM conductors "that were shown to be associated with anomalous nickel-in-soils and preferentially located along the margins of a ~2km x 0.5km discrete magnetic anomaly interpreted as a potential feeder zone located near the southern extent of the intrusive complex. An initial RC drill program commenced in Q1 2020"... and hit jackpot.

Sorry about the long winded answer... I feel I may have gone off on a tangent... long day...

ps - I don't think we will be sitting in radio silence for 3 months like after the last CR... I reckon there is going to be a flurry of news to come over the next few weeks / months... maybe something exciting to report at next weeks RR stars luncheon...

Cheers