Ann: Priority Silver Targets Outlined at Cerro Leon, page-3

You look at this announcement and you realise we have barely drilled our tenements.


Karina drilled to like 40m depth - haven't even had any holes below base of oxidation. PR219-12 on the right hand side there looks like an interesting follow up.


CSS similar, mostly just drilled to base of oxidation. The one deeper hole 216-12 hit lower grade (but with 40m thickness so makes up for it. Best case scenario is that the 3 planned holes prove up a plunging structure like I have drawn and we keep hitting thickness at 100gpt+. Will add ounces quickly.


Tranquilo looks the best. Mostly only drilled to 100-150m but this structure looks mint. Plenty of 1000gm+ hits and it's mostly silver with minimal gold and base metals. Looks like the plan is to infill probably to indicated status an drill deeper than previously to show that this could be a high grade structure that keeps going down.

All in all Cerro Leon has barely been drilled at depth. If we maintain grade and drill to 150-200m deep across tenements (which is easily pittable if ounces are there) then our exploration target looks reasonable. Cerro Leon alone could be 150Moz, then we add Sierra Blanca and Joaquin.

I think you are on the money that we look like we are a couple years behind on the same trajectory as ABRA. But we have done the dirty work while silver was hated and now we drill into a rising price. Stage is set gents.