ERW Errawarra : The Waiting is Killing Me But Worth It, page-6

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Offside

73 Posts.

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28/10/22

00:27

Post #: 64443924
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Originally posted by Offside: ↑

great * video report on ERW today. Wealth of info inside it. Not sure if HC allows me to post a link but will try to worldwide web stock head.com.au/*-tv/nickel-suphide-finding-rich-exploration-hot-spots-and-potential-regions.

The video features Tom Reddicliffe of ERW and ADRIAN BLACK principal Geo at NEWEXCO. (A terrific Geo company who imho wouldn't want to be involved with a project that is unlikely to be successful).

Key takeaway for me
1. delays in gaining all permits and heritage clearances required ERW to go into cash preservation mode - but this means they still hold >$3m cash which as remarked elsewhere is enough for quite for their imminent programme of EM surveys and multiple drills. Noe that the EM work being done now might cost around $250-300k and the following drilling may cost another 250-300k. Plenty of cash will remain to do more drilling etc so a CR not immediately obvious.

2. Separately I'm told that EM surveys with Newexco started TODAY 27th. Focusing on north eastern areas of tenement from AW towards Ridgeline. Meantime ERW is awaiting the eritage people to set a date for checking out the proposed track which ERW will clear to enable the Rig to be transported to site. That could take us into mid November. The Heritage team want to be sure nothing ancestral is being disturbed in clearing the track. The EM work will of course help ensure drilling takes place at optimum sites.

3. After EM, its drilling. A diamond rig is on standby and ready to go. (I understand each drill will be 7-10 days. expect at least two; so 2-3 weeks then add around a month for Assays so early to mid January (although if they detect massive sulphides we can probably expect to hear about that much earlier).

4. Quotes from the * video... (Q) "so you'll get a rig in by the end of the Calendar Year" (Tom Answer). "Yes Absolutely". "Just awaiting clearances and access". The "Driil Rig is lined up". Adrian quote "The Timing is Good... Crew is booked for the EM for 7-10 days".

Expand

great maps of the ERW drill area
1 general Pilbara vicinity and proximity to AZS and to the GRE and Artemis ARV Radio Hill locations - the latter being the currently mothballed Ni processing plan also owned by Sorrento). note proximity to Karratha which is where the Rig is awaiting activation.

ERW map1.pdf

2. Map 2 shows proximity of ERW and AZS. Note the higher value/quality of Ni at AZS was at Ridgeline to the west (nearest ERW)

ERW map2.pdf

ERW Price at posting: 17.0¢ Sentiment: Buy Disclosure: Held
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ERW Errawarra : The Waiting is Killing Me But Worth It, page-6

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ERW Errawarra : The Waiting is Killing Me But Worth It, page-6

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