Before I start, I believe the below does not represent price sensitive information. The below is my representation of what was said over the phone, and I have taken most care not to take anything out of context. Any reader that questions the below can confirm with the company over the phone themselves.
[A] Next announcement expected to be released:
Announcement should be expected later this week, or early next week. The announcement will be weighted towards Pad 5.
[B] Reason for delay in drilling announcements:
(Q) Is SBR being held up with Assays at the Lab?
(A) Yes. Around 6 to 7 Weeks Turnaround due to back-log. But SBR believe it will improve.
[C] Schlangental
(Q) RC Drilling complete?
(A) Yes RC Drilling has been completed. 90 + RC Drill holes varying in depths around 18 metres deep. 6 to 9 deeper holes. Of those deeper holes, some did not reach target depth, and will be drilled by diamond tails (through existing RC Holes) by the SBR owned drill rig over the next 4-5 days before it goes up the Guchab mountain.
[D] New Company-owned Diamond Rig:
(Q) Where is the new rig drilling located (pad #)?
(A) SBR were drill testing the new rig (testing the capability and suitability of the New Rig with expected specifications) before commencement of exploratory drilling, and will pass through Schlangental to do tail drilling (through existing RC Drill holes that did not reach target depth) over the next 4-5 days, then will go up the hill to Guchab**.
Shortly Guchab will have 2 Diamond Drill Rigs.
**SBR are still deciding where the new Company-Owned DD Rig will commence Drilling at Guchab, either at the foot of the Guchab mountain, or in the high-country (high up the Mountain of Guchab).
[E] Other (Non-Company Owned) Diamond Drill Rig
(Q) Where is the DD rig located?
(A) Update on drilling progress of Non-Company owned DD Rig:
Pad 5 - Drilling finished. Subsequently moved to Pad 1 for Drilling. All drills back from assaying for Pad 5 except for 1 drill hole.
Pad 1 – A Comprehensive Drilling Programme has been finished by the Non-Company Owned DD Rig. (This Comprehensive Drill programme at pad 1 was much like that of Pad 5 – in every direction). The drilling program was fan-drilled orientation towards all directions (360 degrees). The DD Rig subsequently moved to a position South of Pad 4.
The drilling at Guchab that has taken place is greatly assisting Matt Painting in understanding of the mineralisation structure.
SBR Price at posting:
9.0¢ Sentiment: Buy Disclosure: Held
