*Key Findings from the Assay ResultsSignificant Drill...

*Key Findings from the Assay Results

1. Significant Drill Intercepts

   • Hole 25PFRC001:
     • 41m @ 2.01 g/t Au from surface(excellent for open-pit potential)
     • 5m @ 10.01 g/t from 36m(high-grade interval at depth)
   • Hole 25PFRC002:
     • 22m @ 0.70 g/t from 33m, including:
       • 10m @ 1.05 g/t from 33m
       • 1m @ 1.61 g/t from 45m

2. Validation of Historical Drilling

   • The results align with the interim mineralization model developed by Mining Plus.
   • Gold mineralization is associated with quartz veins within hornblende gneiss, which is a favourable host rock.

3. Next Steps

   • Awaiting results from 12 additional drill holes.
   • Mining Plus will integrate data to update the mineral resource model.
   • Plans for metallurgical testing and further geotechnical drilling.

Comparison to Industry Standards

To assess whether these results are "good" or not, we compare them to benchmarks for gold projects at different stages:

Mining Type	Cut-off Grade (g/t Au)	Economic Threshold	Comparable Intercepts
High-Grade Underground	4.0 - 6.0 g/t	>5 g/t Au	5m @ 10.01 g/t is very strong
Open-Pit (Shallow Oxide)	0.5 - 1.5 g/t	>1.0 g/t Au	41m @ 2.01 g/t from surface is above-average
Large, Low-Grade Open-Pit	0.3 - 0.7 g/t	~0.5 g/t Au	22m @ 0.70 g/t is economic but lower end

• Strengths:

  • 41m @ 2.01 g/t from surface is an exceptional shallow intercept, ideal for open-pit mining.
  • The 5m @ 10.01 g/t from 36m is a very strong high-grade interval, suggesting potential for an underground extension.
  • These grades compare favourably to many active WA open-pit gold mines.

• Weaknesses:

  • The second hole (25PFRC002) is lower grade (0.7 g/t over 22m) but still above cut-off for a large-scale open-pit mine.
  • Additional results are needed to confirm continuity of high-grade zones.

Final Verdict: Is This Good?

✅ Yes, these results are strong for an early-stage project, especially for open-pit potential.

• The 41m @ 2.01 g/t from surface is particularly impressive.
• 5m @ 10.01 g/t suggests potential for underground extensions.
• The project compares well to other Western Australian gold deposits currently in production.

What to Watch For Next:

• Upcoming 12 drill hole results will determine continuity and resource expansion.
• Metallurgical test work to confirm gold recoverability.
• Resource update from Mining Plus could define a JORC-compliant resource.

Conclusion

These results are a great start for validating historical drilling and indicate potential for both shallow open-pit mining and deeper high-grade zones. The next batch of assays will be critical in confirming whether this deposit can support a viable resource upgrade.
*gpt4o