Good points @Shamer, but 24 holes for a no-show only tells me they haven't drilled in right spot.
Doing more work on it as part of also looking at Vanmaris and Farno nearby seems sensible to me; they're nearby.
But there's no rush, either. They've got 2 years under the option, so they can take their time and only go drilling once they're more confident in finding something.
King Col will be interesting if there is a significant enough find and selling it off is another source of funds. That would be handy.
Ann: De Grey executes Indee Gold Share Sale Agreement, page-20
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