Thanks Whatsup. The irony with all of this is that the results...

Thanks Whatsup. The irony with all of this is that the results are actually very, very encouraging. Hundreds of holes have been drilled in the Gawler Craton without so much as a sniff of mineralisation. Whilst CHK has not hit an orebody (yet) it has persistent low-grade intersections (with a few very high grade short intervals) in multiple locations and has discovered major structural zones, which along with the alteration styles, indicator elements and brecciations styles etc.) are highly indicative of major fluid movement in fault controlled (i.e. dilational) environments.

To put it into context the discovery diamond hole, RD1, drilled over the Olympic Dam anomaly in July 1975, intersected 38 m @ 1.05% Cu, 70 ppm U3O8, 0.27 g/t Au, 3.5 g/t Ag at a depth of 353 m beneath the surface. Nice but nothing staggering. According to the 30 June 2022 Annual Report the total resource held by BHP at Olympic Dam was 11.680 Bt @ 0.70% Cu, 0.31 g/t Au, 1.3 g/t Ag and 0.23 kg/tonne U3O8. Staggering!

All the hallmarks are there at 2 if not 3 locations at Horse Well and that is without even discussing the possibilities at Lake Torrens.

Geophysical methodologies are an excellent means by which to aid decision making but when drilling a 96mm diameter diamond core hole to 1,500m (or more) a small interpretation error (not even an error but just a difference in interpretation methodologies) in the geophysics can mean a total miss of the intended target (I think the Pernatty C drilling just missed the actual geophysics target once we had reinterpreted the geophysics based on the core we retrieved - therefore, it is still out there - despite some really good zinc hits).

The thing with HW is that it wasn't a total miss - there were actually multiple proximal hits (in my view) and these are worthy of further investigation. The next geo will have to make the decision on which direction they drill next on these target zones unless they have the option to do multiple holes at each location. Cheers