Ann: Water Permit Granted - Riqueza, page-84

_{Whilst Iacknowledge that the 22 February announcement states;}

_{“RP-series”hole numbers do not indicate a drilling sequence but are rather an arbitrarynumber assigned during the target generation phase. As each hole is drilled, itwill be assigned a sequential drill hole number.”}

_{It is bestto refer to the 25 May announcement where they specifically state that they havepositioned the drill rig to commence drilling on RP01 on the Puyamanpata targetto a depth of 750 metres. The Appendix 1 description in the May announcementmatches the appendix 1 details in the 22 February announcement so, in thisinstance, they have opted to commence drilling with their deepest drill targetwhich, co-incidentally, corresponds to the number assigned in the target generationphase.}

_{FWIW, I haveincluded my attempt at identifying the drill depth on the spacer shown in thecore tray in the 11th June announcement. Thanks to 1lluminator and BlueSwims for their input on that. Judging by the core tray cover in the backgroundof the 11 June announcement they are using a standard 4 X 1metre core tray fortheir core logging.}

_{Irrespective of whether the number of the core tray number is showing 57 or 97, it is evident that the company was quietly going about drilling whilst everyone here debated the issue of a water permit and they are more advanced than most people would have thought.
Whilst the company has not given a timeframe for completion of the first hole, I have included a schedule of the timeframes to complete each hole for the 10-hole program recently conducted around the Frewena tenements in NT for comparison.}



Judging by the announcements drilling commenced sometime between 26 May and 2 June. Make your own assessment of the drilling capacity of the rig and the hardness of rock that may have been encountered. I think most of you will probably conclude that EOH has either been achieved or most likely to occur this coming week barring any unforeseen circumstances. In that case we may have an interesting week ahead of us if they have intersected mineralisation. GLTAH.