Ann: Exploration Update, page-13

The board seem extremely positive about where they are currently at with both project. The gold project they are in talks with a few other jv partners but are in no rush, as long as the deal works for them where they get some of the production cash flow as well. They have only drilling 70m down and believe there is more down there if they drill and put the money up!


Chilli project

Obviously the chilli project is the main high light. Timing is a major part of this. They have done well here and at current zinc prices they could mine what they have with a return, I believe if it hits $1.40 the feso shows great return. But they are extremely confident they can add to the resource with this drilling plan so keep a good look out as they are expecting plenty of drilling and results over the next few months. Turn around on assay are about 2-3 weeks they have got a contract with a company called "als"

This could potentially b a $100 m market cap with good grades and drilling program so there is plenty of upside here I believe. Open put mine to start then underground after.

I believe the last drill whole here was 3 years ago and there is plenty they are going to drill which hasn't been drilled yet which they believe will show some good grades too. Its good to have the extra cash in this situation.

I believe they have 8 people on site and are waiting fo last permit to do with the camp which could be any day now

Looks to me they are going to invest some money at some point into potential copper resource as well on the tenant, one of the targets is "lorent0" 5% copper
I would have missed abit but I'm sure @wazzooo1 could add to this and correct me if I'm wrong at all.