Ann: Zapato-1ST Drilling Update, page-352

Figure 2: Adapted fromASX:MAY, 17/10/2022, Zapato-1ST Drilling Update, https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02583110-3A604697?access_token=83ff96335c2d45a094df02a206a39ff4, scaled and measured by myself with annotations displaying the information from: ASX reported depths and other predicted depths of significance (ASX:MAY, 17/10/2022, 04/10/2022, 26/09/2022, 15/09/2022, 08/09/2022, 25/08/2022, 16/08/2022, 04/08/2022,27/07/2022, 07/06/2022, 01/06/2022, and 23/05/2022) and a zoomed-in diagram with annotations guessing at what measured depth remains before the vega alta is penetrated. Note, as explained by ASX:MAY they are still drilling through "hard rock" and the hard rock "encountered is also now thicker than prognosed" ASX:MAY (25/08/2022). "The planned total depth is 3,150m"(29 Jul 2022, ASX:MAY, Quarterly Activities Summary-Period Ended 30 June 2022).

Assuming there is about ~150m MD left to drill until the "seal" is penetrated and assuming a current rate of 13.8m/day is maintained, then I would assume next Friday 28/10/2022 is the date of which an announcement might fall (not Monday, as many have suggested).

Figure 1: Adapted from ASX:MAY, 17/10/2022, Zapato-1ST Drilling Update,https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02583110-3A604697?access_token=83ff96335c2d45a094df02a206a39ff4,scaled and measured by myself with annotations displaying the information from: ASX reported depths and other predicted depths of significance (ASX:MAY, 17/10/2022, 04/10/2022, 26/09/2022, 15/09/2022, 08/09/2022, 25/08/2022, 16/08/2022, 04/08/2022, 27/07/2022, 07/06/2022, 01/06/2022, and 23/05/2022). Note, as explained by ASX:MAY they are still drilling through "hard rock" and the hard rock "encountered is also now thicker than prognosed" ASX:MAY (25/08/2022). "The planned total depth is 3,150m" (29 Jul 2022, ASX:MAY, Quarterly Activities Summary-Period Ended 30 June 2022).