Ann: Exploration Update, page-284

Some baseline data from Sentinel imagery of Grace area.
Back in June when no drilling done for years.




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Recent image (13/8/21 with link) with some features that could be mistaken for drill sites highlighted but were present back in June so are not recent site preparation. No obvious recent activity visible IMO.
RC and DD sites are usually cleared pre drilling with sumps (mainly DD) and generally easy to see even at the resolution of this imagery. Aircore can often be seen but is much more subtle usually.
RC and DD planned so IMO no work done on site as of the 13th.



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The image below has the RC and DD reported in the 2018 desktop review. Thanks for that as digging it out of NCM data is a lot of work.



I wondered about how much continuity could be inferred from previous results.

Looks reasonable and probably similar to Chicken Ranch and Tim's Dome to the west where roughly similar resources are reported from similar NCM programs.

The RC and Diamond holes are supported by aircore and RAB coverage which give some grades but are normally first pass exploration techniques to focus the bigger, more expensive, rigs to get the best bang for your buck. Some of these holes are listed in the 2018 review and probably worth adding some info to see what was done if there isn't any open file available.

Some detail from the Grace area of the above image:
Some holes are plotting on sand dunes which suggest there may be some grid differences between NCM and Google Earth. Holes will be accurate relative to one another but may need to be adjusted slightly to reflect actual locations on GE.
The amount of outcrop in the greater Grace area is significant by comparison with most other areas in the Paterson. Shallower drilling, deeper weathering?


Every hole has some grade - good.

NCM walked away - not so good. Why? [Mostly corporate and logistical reasons in around 2010-15. Expensive to hold ground once the EL's need to be reduced to Mining Leases - may have been one reason.]
NCM had many projects on the go but have only mined one of the regional deposits (Fallow's Field just south of Telfer). O'Callaghans, one of the world's larger tungsten deposits was found between Telfer and Grace - not touched yet, too deep?.

No secret the review of Havieron by GGP has put the cat amongst the pigeons with hopes that there is more than that one good deposit NCM didn't take through to a mine.

Even a partial repeat of the Havieron exploration on PSL ground makes this worth a small punt IMO. It is NOT an easy target and will require a well funded program to test the potential. The CR may not be welcomed but it is good IMO to have more rather than less in the kitty at the start of this upcoming drill program.

NSW and other ground? - tricky as focus can be lost if management aren't careful while testing two, or more, widely separated projects.

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A very red day for exploration stocks. Post TH will be interesting.