Ann: Parks Reef Deeps, page-13

Is there any updates on this by now


Deep Diamond Drilling to test Parks Reef at >500m below surface.
During the quarter, the company advised that it had recently been notified of its successful application to the State
Government of Western Australia for co-funding of direct drilling costs to drill two 750m deep diamond drill holes designed
to test Parks Reef at approximately 520m below surface.
This is more than twice the depth of any previous drilling conducted at Parks Reef and follows recent successful drilling
programmes which have identified high grade zones hosting not only platinum and palladium but recently rhodium and
iridium.
The co-funding forms part of Round 23 of the EIS and $150k has been awarded to the Company which represents 50% of
the direct drilling costs. An additional third deep hole has also been planned which is outside of the EIS programme.
The objective of the Parks Reef Deeps drilling programme is threefold.
• To test for continuity of grade and thickness of the reef at approximately 520m below surface for an
enhanced interpretation of the intrusive complex. If the reef is intersected at these depths, then it is
considered that precious and base metal grades, mineralogy and metal ratios of the reef will provide
valuable vectors toward zones hosting higher grade and/or thickness of PGM mineralization.
• To drill for previously untested, high grade, reef style PGM+/- Cr (Ti) mineralization in the hanging wall
mafic stratigraphy, which occurs in the Stillwater (J-M reef) and Bushveld (Merensky and UG2 reefs
complexes in Montana and South Africa respectively. The proposed holes will test approximately 450m
of this potentially fertile mafic stratigraphy.
• To enhance the understanding the magmatic stratigraphy of the lower section of the mafic zone.
Due to conditions attached to the funding programme, it is anticipated that drilling will commence in July and is expected to
take approximately 1 month to complete.