Ann: Quarterly Activities Report, page-27

RESPOND FROM CHRIS






The following from page 18 of the Quarterly report:

Commentary on the recently completed deep porphyry drill holes – which were drilled well south of the hydrothermal breccia – will be provided following receipt of Dr Corbett’s report.


We have not yet received Greg’s report, and given that we did not go into trading halt, it would be fair to say that we did not hit obvious porphyry-style mineralisation but there was intermittent mineralisation between 600-1,000m in both holes that we needed Dr Corbett’s assistance to interpret the meaning of – ie. close or distant from a porphyry?

From the announcement on 31 March 2021, page 12:


Stavely continues to engage with the landowners seeking access to drill south of the railway, however, if access terms cannot be settled prior to May, access could be postponed until September after the winter rains;As we have not yet finalised agreement with the landowner, you can assume access is delayed to after the winter rains.I do not want to release an interim Mineral Resource without the south-eastern extension so the delay in access to the southern paddock will have a knock-on effect with the resource likely by end of calendar year and Scoping Study Q1 2022.


Best regards,

Chris