Ann: 10km Magnetic Strike at Satrokala Iron Ore Project, page-41

CC: @Goldbug23

I checked some previous announcements, and in the middle of covid, the company announced:
- In the prospectus, the original drilling campaign of 700m was commenced in November 2020, and the completion of the maiden 1000m drilling campaign (an extra 300m) on 20th Dec 2020, which is about a month and a half.
- The company then announced the results on 12th April 2021 - so let’s assume 2 weeks of Christmas shut down, so about 3 months to process

Then for the next phase of drilling the company announced drilling was expected to start week commencing 7 June


And then in the 20th July


Which made that drilling campaign about 43 days.

Please note that this was also in the middle of Covid.

More recently in August 2023 the company announced it has commenced diamond drilling on 20 July 2023


And announced that drilling completed on 11th October - that was the announcement date, it may have completed earlier.



This is a period of 83 days, but once again, bear in mind that it was for 63 shallow holes, so there would have been a lot of work to move, set up, drill, pack down and move the drill 63 times instead of 10 times - which this campaign is only scheduled for 10 holes (but I wouldn't be surprised if Paul gets 12 or more holes drilled)

In short, I think 10 x 100m holes will still take about 3 days or a month, but at the end of the day, splitting hairs on 2 weeks or 2 months is irrelevant.

I would be extremely happy if it takes 4 months to drill if it meant the grades are high (60%+), the impurities are low, the properties are consistent with Bekisopa (i.e. the iron ore liberates freely and the material upgrades readily) AND there this a heap of weathered material in the first 5 - 20 meters that is suitable for DSO, with lots of Green Steel / DRI suitalbe fresh rock open at depth underneath the DSO.