Announcement

Quarterly Activities Report & Appendix 5B

31 January 2020

Quarterly Activities Report - 31 December 2019

Highlights

South Korea

  • 455.52m of Diamond drilling completed at ‘Bonanza Zone’, Deokon, targeting beneath the outcrop which returned high grade gold and silver in surface samples. Peak assays include 0.15m at 4.59g/t Gold and 708g/t Silver from 42.35m in DKDD004.
  • 652.53m of Diamond drilling completed at the Beopseongpo Project.  This included 343.04m at ‘Hand of Faith’, which completed this initial three-hole program commenced in the September quarter.  This was followed by a further two holes for 309.49m at ‘Golden Palm’.  Peak assays include 0.96m at 5.7g/t Gold from 36.45m in BPDD006.
  • Land access obtained for the Neungju Project, with initial drilling planned to test the Yeppeuda Vein in the upcoming half year.
  • Options investigated to drill the Weolyu Project at depth to demonstrate scale potential of multiple vein zones.
  • New high-grade outcrop, float and historical mine dump assays from significant reconnaissance field programs.  Highlights include 4.75g/t gold from Yeongdong District and 930g/t silver from Seongju District, both from historical mine working dumps 
  • New discovery in South Jeolla District at Daeam Valley, with peak assay of 4.36g/t gold in Float, exhibiting classic high-level Low-Sulphidation epithermal textures similar to SAU’s Neungju Project.
  • Permit to develop received for the Kochang project, operated by JV company Bluebird Merchant Ventures (BMV).


Please download the Quarterly Activities Report & Appendix 5B via the link below:

 Quarterly Activities Report Q2 & Appendix 5B