Ann: Quarterly Activities Report - December 2023, page-26

Hey mate,

Not really trying to lower expectations but just putting the facts out there, and also have been listening to what Dean has said multiple times in pressoss/interviews, and in announcements , including the one that is the start of this thread - I didn't think anyone was expecting anything/much from that failed campaign though (but obviously the project is still as good as ever, and a partial/failed campaign doesn't change what's there).

As posted above, here is a summary of the holes drilled (taken from the announcement of this thread):

*****
- planned to drill 13 targets, but only drilled 13 holes
- 2 x diamond holes into Orion which extended mineralisation by 100m down dip
- 7 x RC holes hit the edge of anomalies
- 2 x RC holes into Ironclad intersected quartz-sulphide veining
- 2 x RC holes abandoned


See what we get but going off the above, we can hope for a good result from the 2 holes into Orion, and maybe something from the 2 Ironclad holes (narrow, high-grade?) - but I wouldn't hold my breath as Dean hasn't given any indication this whole time that there will be anything great from that failed/interrupted campaign.

*****


@McKhenry

No chance they need money to get back to the Kimberley - the gold discovery drilling before the Kimberley is targeted and mostly super shallow, meaning super cheap (especially compared to a resource drill out).

If they do hit something good on the gold, then you'd expect them to top up the coffers, at a higher price.

Yilgarn was flooded - not anymore - so no delays there? I guess we'll find out this week or next if they stick to their late-March/early-April drilling start.



@Cpago55

"FQM just signed mou with raiden for ni pge earn in"

They didn't really "just sign it" - they signed that MoU in December last year, and it's not a JV like they had with DRE but an MoU to do some DD (like they did with DRE, before the actual JV was signed).

FQ have a minimum spend of $1.5M over the 12 month due diligence period, meaning that they have to spend the $1.5M before they can pull out, otherwise they would have to pay Raiden the $1.5M, so might as well do the exploration. You'd think they'll pull out of that one too once they do their minimum spend/would've pulled out already if they didn't have to spend the minimum amount.


Anyway, looking forward to the gold discovery drilling starting shortly and seeing what the drill bit says, and getting that excitement back of what the drill bit can/will produce.


Cheers,

GB.