So here we are with the new set of drill results!First of all...

So here we are with the new set of drill results!
First of all the obvious: As i mentioned before at our previous drill results we knew already that pad 6 potentially been placed at the eastern edge of the south east resource extension block and drill hole 63 and 64 just confirmed that theory as from pad 6 to the east nothing been found.

The drill results today brought in more of the kind of things we largely expected which is great! Drill results from Pad 6 towards the south west,and west continued to start from lower depth not from surface which i already mentioned to be the possible results of drilling from the eastern edge of the resource not from the top of the resource,which been further confirmed today with the results of hole 63-64.

Additional notes: As others already mentioned now management reduced the total number of drill holes to be included in our Q2 resource upgrade from 92 to ->81,and so block C and D wont be included. In total 11 drill holes less to be included in the resource upgrade. I think there is a few possibility here why did this happened:
1. Because for our PEA we anyway need only Korbel main and in the upcoming PEA mining sceldule Block C and D wouldnt have been included anyways exspecially since most probably that 11 holes wouldnt have delivered enough results to bring significant size of resource into the indicated category.
2.Investors would have falsely lowered their expectations towards block C and D potential if we deliver some half baked resource upgrade from the Block C-D area without first drilling it out properly.This would have been a possibility when we think about the fact that only 11 holes would have been on hand from a big potential area.
3. Reducing timelines for the resource upgrade,and also for the PEA delivery which is very important in the light of past drill result delays (thx to COVID) and also regarding our project development after the PEA.
4. As someone already suggested we might reached the desired objective regarding resource tonnage, and grades to deliver a big enough resource, and Block C and D maiden resource can remain another big catalist towards Q3-Q4.

-I like that we getting a more firm date as April for our Resource upgrade, and if it so happends our management can deliver on their mid year PEA target as well!

-We got the confirmation that Block C-D Isabella and
Cathedral drilling to continue in 2021.

-RPM drilling starts in early Q2,and maiden resource at year end!

In light of todays announcement i expect the resource upgrade to be in the ball park of ~8Moz in April, and 12+Moz by year end 2021 which will include surelly a maiden Block C-D, and RPM resource and maybe will also include a maiden Isabella and Cathedral resource, so the Oz range can be wide but 12+ Moz is my expectation for year end.

Have a great day guys!