Ann: CHK Investor Presentation - November 2020, page-18

HWD004 is the confirmation I was waiting for. Going back to the following diagram and HWD003 there was a potential 3km radius from this Biotite zone to mineralization (based on the Olympic Dam model) which could have been in any direction (including Oak Dam West). .

However we now have a cheeky non-price sensitive presentation which shows massive mineralisation in HWD004 which by my calcs is about 2.92km away from HWD003 and drilling continuing down below 1200m due to this (another great sign). This is further than these holes were originally planned (I believe the budget was to 1200m).


From Biotite Zone to mineralisation zone


Est distance between HWD003 and HWD004

It will be interesting to see what the $2m will be used for. My understanding is that they are able to drill 2-3 more holes without too much in the way of additional approvals.

Please dyor