Ann: Exploration Update - Exceptional Intercept, page-60

Hi Calm,

While I am all for speculation, I think in the case of Sly Fox, it's simply... just the drilling program going to plan.
The last results for the recent drilling of WW and FP was completed and the 2 rigs moved to Sly Fox.



After that, the plan is to swing back to WW, FP and Applecross (3 Rigs on Never Never)


then... (2 Rigs on the go currently)


Then back...


I do agree with you regarding Sly Fox, but then, they have seen visible gold in 2 of the cores...



Cheers for the video link mc3456

SL was being particularly careful about what he said. I view it as a sort of poker game, and whilst SL knows he has a good hand, it's pretty simple, you cannot reveal your hand until everyone has called (or in this case, every drill hole has been assayed).

I liked the bit about the mining engineers getting a bit pi#@ed off because the resource keeps growing so quickly.
Though he does admit that " we are really excited with the scenario's we're seeing at the moment" .
"when your mining stopes this wide at those grades the amount of ounces you pull in every stope... is... going to be eye wateringly good".

SL does only touch on the funding situation and, indeed the level of interest in supporting further drilling. I personally would be very comfortable if SL took advantage of this with another small placement (I must prefer capital raisings when the share price is higher than the last one), basically, to bring in say, 1 more rig and dedicate it to drilling out the plethora of targets within their 2.5km range, as whilst SL has made a good case for only drilling where the ounces are already known (and only going after lesser known targets later), a small continuous green fields drill program would hopefully start to add to SPRs growing pipeline of known exploration targets.

SL also briefly touched on a gravity survey being undertaken which is supposed to support the SAM survey, which will add further targets.
From what I can tell, this was not mentioned in the quarterly. Hopefully we will get more clarity with the next exploration update/target.

Finally.. if anyone got all the way through the document, this sits at the end: