Ann: Newmont Farm-in at Bauloora Project, page-21

I don’t think this drilling has hit the mother lode yet, but it has likely hit somewhere above the inferred mother lode. Assays are likely to return lots of lead, silver, antimony perhaps and maybe some high gold intervals but I doubt that the assays will return widespread high grade gold. This is because there was chalcedonic quartz gel in the core which says we are probably too high to see widespread high grade gold.

In epithermal systems it is all about the alteration and quartz textures. That is why Newmont were comfortable entering an agreement without the assays. They see in the core all the ingredients for a high grade zone to occur at depth.

I think LGM realise that lots of drilling may be required to find this high grade zone, hence the rush to enter a farm-in with a deep pocketed partner.