uralla update

Nice update on our Uralla tenements just out

13.39m @ 1.45g/t Au, 11.8g/t Ag
10.35m @ 71.86g/t Ag

This is just 1 of the 10 tenements Jiangsu are spending $21M on exploration over for 30%

Few big key lines I noticed in this announcement that punters should have a read of:-

- Pinnacle drilling (the same guys drilling Mt Adrah) engaged to operate a 3rd rig as part of Jiangsu spend - this to me says they are going to contract drilling. If Jiangsu rather than drilling themselves spend the $21M through Pinnacle then results are going to fly out of Uralla at pace. Pinnacle are drilling 1,000m holes at Mt Adrah in 10 days ! Market may start to price some value for the $21M JV if it all goes to contract as that is cold hard cash

- It is important to recognize that Rocky-River Uralla project was SOC's cornerstone asset - they are saying Mt Adrah well and truly is their flagship asset now

Can't complain having Jiangsu in the background spending $21M on 10 tenements, this shows they are just about to ramp that up