MT B, page-57

From Small Caps

"De Grey, to reduce its ground holding costs, divested the tenements to concentrate on what it considered its main target.

The other factor that may have influenced De Grey is that Roberts Hill, now Caeneus’ priority target, is under more transported cover (up to 40m thick) than other parts of the ground it held in the Pilbara.
Caeneus, looking for a new direction from lithium, snapped them up — and its three-year wait now seems to be paying off."

And

"Roberts Hill is located just 6km from Hemi.

Moreover, De Grey, with its Shaggy prospect just 200m from its boundary with Caeneus, is now drilling close to that boundary as it seeks to extend its Mallina resource."

And

"In its most recent work report, Caeneus reported in October that it had conducted airborne magnetic and radiometric surveys over all three projects.

At Roberts Hill, surveys showed features that indicated a link of structures to the Mallina and Berghaus shear zones 4km to the south.

The aeromagnetic anomalies outlined at Roberts Hill are considered the priority targets which will initially be tested by aircore drilling.

That program is expected to be between 20,000m and 25,000m.

Caeneus is still awaiting the relevant Western Australian Government and heritage clearances; these have been delayed due to the high level of pegging and drilling activity in the Pilbara and other parts of the state in recent months.

The company’s ground covers a total of 475 square kilometres."


BnS