Ann: Results Confirm High-Grade Halloysite & Ultra Bright Kaolin, page-90

For me the key is that this initial drilling for LRS did three things in the initial assays - been hoping the initial assays showed we had a good kaolin/halloysite deposit to do further drilling. The key to a kaolin/halloysite deposit is three fold:
1. Grain size - less than 45um is the key.
2 Brightness - over 80% is fantastic meaning the resource is 'whiteness'. 75% - 80% is good/ok
3. Low deleterious elements, especially iron, which in part is also associated with high brightness. If you have brightness above 80% the probability is you'll have low deleterious elements. Fe203 needs to be below 1%.

Whilst a little bit of a mixed bag, on this basis for an initial drill program the results are very good as there were some very good and good consistent hits. Now subsequent drilling needs to strengthen those results by targeting areas where results were particularly good. Obviously the geological hypothesis is also a key here as well as establishing that map that layers the results so that can see the areas of plus 10% halloysite, where nice koalin results are, nice grind size of 45um or less and low deleterious elements occurs. As a holder of OAR, I also wish these were the results we could have got in that initial drill campaign over there.

Very very good start which backs some of the historical results here.

All IMO