South Australian functions, page-25

Hi Calm,
I think there were a few new details in the presentation which @cammotee provided a link to (cheers).

The deepest hole as you point out, is indeed a big step out and... as SL rightly points out, is risky, but worth it as it would potentially support the just released exploration target size (and therefor just require infill drilling). Which he again articulated as being 1.6 to 1.9m ounces for Never Never alone.

Then you have (at 32:40) SL saying "we are also drilling, and we are pretty excited about this, so I apologize, we are drilling in this area here, which might seem obvious when your chasing a really high grade system and getting the hits we were getting, we almost forgot that there could possibly be something in between the old pit and this new discovery". "So we are drilling in that area and keep a look out for those results coming out, if they are good I will be shouting them from the roof top... or (jokingly) he will be tucking them away somewhere."



Then you have the further discussion on Sly Fox -
"thought of as a narrow vein high grade shoot, which sounds very similar to Never Never"
then "went back to look at logging, it showed exactly the same material as Never Never
"then we drilled a couple of holes to test if this was a narrow vein shoot, turns out it's not a narrow vein shoot, it's quite wide.. the two holes we are waiting on at the moment... been a delay... but understand they will come out very shortly, you know, I'd like to say we have expanded this, this system as well and it just adds to the potential mine life"

I get the feeling the results won't be anything like the Top 20 never never hits, but... more likely 20-30m at 3g/t, which, is just fine when you want base load ore for a reduced mill throughput.

At the 30m mark SL discusses that Never Never is not the only high grade system within the pit, which is not new, but... I think what is, is the mention of U/G resources for all of the separate structures underneath the main open pit. So, Never Never, West Winds, Four Pillars and Sly Fox. Outside of the Gilbey's open pit resource currently in the MRE. Plus he hints that it "not a big stretch to swing back across to underneath the main pit to mine those bulk stopes as well". These will see the Mid Year MRE having multiple U/G MREs - or that is how I interpreted it.

Finally, we got some more color on exactly where the air core and RC drilling is occurring, though SLs blue circle is still a little... less precise that the drill rig teams are getting!

"funnily enough, you draw a straight line between what we have found (I assume he means NN) and what was previously being mined (Golden Wings)....... there is a lot of structure in-between and it looks very similar".



The mine plan is coming together as they discovery more gold (and SPRs team are working hard to refine it as it keeps evolving). Simple as that.

Good luck to holders.