Ann: Quarterly Activities and Cashflow Report - December 2020, page-21

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GoldenBoys

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03/02/21

19:14

Post #: 50684809
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Originally posted by Brobel123: ↑

Was wondering the same thing Tretch. I was curious as to what work CHN did before drilling and finding the big Julimar hit. Mainly just to give me a deeper understanding and comfort of the process that DEV is currently undertaking. And to also recharge my patience! So I spent some time this morning reviewing CHN's discovery announcements for Julimar. Below snippet is of interest (from their 23 March 2020 release):

"Chalice is targeting high-grade nickel-copper-PGE discoveries and commenced a systematic, regional scale greenfield exploration program in mid-2019 upon gaining access, initially in the southern portion of the Project on private land. This included 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. Two MLEM conductors 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."

So essentially CHN did the soil geochem work (DEV has done this), did MLEM surveying (which DEV has partially completed) and from this identified 2 conductors of interest. CHN then drilled 4 RC holes and well. the rest is history.

So I believe DEV will continue with the MLEM surveying to properly identify conductors (as CHN did). Then DEV will drill these targets in the coming weeks. But I certainly do note DEV's comment that disseminated sulphides do not usually create good conductors and targeted drilling is warranted beneath the near-surface geochemical anomalies to identify these zones. Perhaps that is why DEV are doing AC drilling over RC (which is what CHN used), so DEV can drill more holes and at a quicker rate so as to hone into the sulfide mineralisation.

I am also excited by the work DEV will undertake on their newly granted area to the east of the ASQ JV, even better that this is 100% DEV. I think there are some very interesting leads there to explore with MLEM / ground geochem on the back of their airborne EM survey.

Anyway, I thought people might find the above of interest, perhaps it might give you comfort that DEV are systematically following the same methodical process as CHN. Fingers crossed... and I dream of the day we see an announcement saying "Massive Sulphides Intersected". I personally believe it is just a matter of time...

Cheers and hagwe

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I’m a lucky holder of CHN. I’m a gold bull so was interested in them for that .

Anyway . Your guys over at DEV are aggressively looking for any leads that may find similar deposits and I’ve got no doubts if it is there to find they will and as quickly as possible .

Im keeping a close eye on this one and good luck holders .

TT

DEV Price at posting: 21.0¢ Sentiment: None Disclosure: Not Held
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