Ann: Exploration program - Preliminary results, page-29

Report summary (From https://newsrush.ai/m_45.html):

Exploration program - Preliminary results

27 March 2024 10:48 PM. 26 Pages

Summary

• A diamond drilling program of seven holes, totalling 1,820 meters, was conducted to explore mineral potential.
• Preliminary results show low gold mineralisation, with only one notable gold occurrence of 31 g/t.
• The program is still awaiting assay results for the last hole, which might offer additional insights into the mineralisation trends.
• The exploration area has geological settings distinct from the Jugan Project, suggesting the potential for new mineralisation zones.

Highlights

• Total drilling: 1,820 meters
• Notable gold occurrence: 31 g/t in one interval
• Last hole drilled: ~410 meters, assay results pending

Positives

• Identification of a notable gold occurrence of 31 g/t
• Potential for discovering new gold zones based on geological anomalies and pathfinder minerals
• Comprehensive drilling and assay process to ensure data accuracy

Negatives

• Most holes showed low to no significant gold mineralisation
• The last and longest hole’s assay results are still pending, leaving some uncertainty

Key Dates

• Drilling commenced: July 2023
• Drilling completed: 14 March 2024

Alerts

• Contains better than expected results: no
• Contains worse than expected results: yes
• Contains expected results: no
• Sentiment: mixed