Ann: Option Acquired over 244,000 Ounce High Grade Gold Project, page-26

My brain dump on this :-

The Good
1. N32-101 @ 6.1 G/t with signif upside (only 400m2 of 1.2km total ground assayed)
2. At surface - free dig and amenable to extraction (See bulk sample)
3. US/Arizona Tier 1 Jurisdiction
4. Reasonable tx price & terms (Seen much worse)
5. V.Low Mcap and Gold on a strong rally (in OZ $ Terms)
6. Relatively H.Grade

The Bad
1. Based on 7 wide holes (Low level confidence - Equiv to Jorc inferred?)
2. Small Tenement 1.2km2
3. Query - Why were rest of augur holes not assayed if such high grade early. At that grade and at surface it would have been economic
4. Low Cash

The Ugly
1. Virus epicentre in US /Travel constraints/potential lockdowns but may not affect remote drill teams

Comments:
Comfort should be sort in the fact that they intend to re-drill key areas to eliminate poss of old assays tampered with so mitigates that risk I guess

Would like to know why vendors are selling on these terms with such a high grade asset and why they never assayed all those warehoused auger holes. Perhaps redrill will sort out wheat from chaff here.

Also like to know what options available to purchase ground uphill towards the Au source down hill from ground they have which is tiny/small postage stamp. I fully expect that they will subsequently announce further ground acquisitions nearby as part of deal if Due dill goes well.

Also possibility of release of assays on prev historic Auger holes before Due dill date if your lucky

Interesting for sure - Will keep a close eye on it...