Ann: 1st batch assays reveal important findings for Steam Engine, page-22

Well, I have had a good read of it and think that I understand it a fair bit better. That does not mean though that the disappointing first impression that the report gives (ie the 6 holes that were drilled to a total of 450ms did not reveal much gold. SRC 225 was the best with 6ms @1.96 au g/t h) has not been conquered. The disappointment is still there. The Report concluded this: Assays from the 6 RC holes appear to define the bottom edge of the gold shoot (Eastern Ridge Lode). The......holes .... show that the high-grade shoots have a very shallow plunge towards the north.

Now, I spent a long time on putting the following comments together as there was a lot to digest and then compile in a sequential manner. It is therefore quite long. I hope that you take the time to read it though as I want to read serious comments in response. It would be good to hear from Eastwest for instance.

Here are 3 Sections on the Eastern Ridge lode. The pink traces represent the said 6 holes. The blue traces represent the holes yet to be assayed. The green traces represent the Phase 1 holes.

We have no clue as to what the blue ones might reveal, but it is interesting to note they have particularly pinpointed SRC 228 in the bottom one. What might it all mean? Who knows but the assayist! This comment does not augur well though imo: Assays yet to be received from Phase 2 holes that were drilled in front of the apparent plunge of this high-grade gold shoot.






None of this seemed to enthuse though, so what did the geos see that gave them an apparent boost?

All that I can find is that they now see an en-echelon pattern emerging and are encouraged by it. I can't see exactly why though except that finding the gold might be easier if its presence/location follows a predictable pattern.

This is from page 9:

The 2024 drilling has so far indicated a potential en-echelon structural control to the gold mineralisation at Eastern Ridge. En-echelon structures often develop in shear zones and are expressed as a repeating series of dilational zones within a zone that has undergone shearing deformation. En-echelon structures are typically developed as multiple overlapping dilational structures that are infilled with mineralisation and can be extensive over large areas.

The three gold shoot zones that have been identified to date at Eastern Ridge are equidistantly spaced with about 150 metres of separation (Fig. 5). At least two of the zones show a similar shallow plunging orientation towards the north.

The Eastern Ridge Lode zone is very extensive and can be traced geochemically over at least 4kms. Considerable potential exists for the delineation of multiple gold lode zones along the Eastern Ridge structure.

So, the interpreted e-e pattern or system might augur well for Eastern Ridge - down the track

For the present though, there is some decent enthusiasm for Steam Engine, even though there are no assays for Phase 2 SE yet. The new 'en-echelon system' interpretation of the ER is now being possibly characterised at SE:

Although there are significant differences between the two lodes, several north westerly plunging shoot zones and an abrupt and apparent southern mineralisation boundary lends support to an en-echelon structural regime at the Steam Engine Lode.

This possibility immediately raises the significance of a repeated, second SAM anomaly just to the south of the southern end of the Steam Engine Lode, which is identical to the SAM response over Steam Engine’s largest high grade shoot zone.

I dare say that only a geologist or the like could say whether or not this interpretation is justified or not. It seems a pretty big leap to me, but as company geos reported this way, I have to trust their acumen and knowledge. I hope that they are correct.

It helps, I think, to now know that they had been previously perplexed by certain things at the southern end of Steam Engine. From page 9 and 10:

The somewhat perplexing truncation at the southern end of the Steam Engine Lode together with the lack of any structural displacement or faulting, may actually represent the southern boundary of a (very) large dilatational zone that is developed within an en-echelon regime.

This observation has elevated the significance of an intense SAM chargeability anomaly located immediately to the south of the southern end of the Steam Engine Lode (Fig. 9). This SAM anomaly is currently unexplained but resembles the SAM anomaly that is perfectly coincident with the highest grade and largest gold shoot zone within the Steam Engine Lode.

The above observations would be consistent with a second Steam Engine high grade lode that is in an en echelon spatial and structural arrangement to the main Steam Engine Resource.

The second SAM anomaly will be drill tested with highest priority as soon as cultural heritage clearance is obtained. Any significant gold mineralisation that is intersected would significantly lift the overall project economics.

This anomaly will not be drilled for some time yet, so we just have to wait and also hope that there are some juicy results to come in from the other 26 holes, being:


• the rest of the Eastern Ridge holes and all of the Steam Engine holes;

• SAM geophysical targets at southern end of Eastern Ridge Lode; and

• maiden drill testing of Windmill East Lode.