Quarterly Activities Report to 30 June 2021
• Deal completion of the sale of the Gubong and Kochang Joint Venture interests for US$10 million with the issuance of 200m BMV shares, or equivalent in cash at US$0.5 per BMV share, with a current ‘mark-to-market’ value of A$13.7 million (see page 14 for details). The company also has approximately A$8 million cash.
• Strong focus on field work in South Korea to build up future drill targets with exploration activities across 5 different project areas:
• Deokon Project: Gold-in-soil anomalies associated with multiple mapped structures with coincident high-grade Au and Ag in outcrop was identified. Drill testing commenced to test this initially at the Nettle zone, with two holes for 251.2m completed and a third planned. Assays pending.
• Geum Mar Project: Assays received for the initial scout diamond hole targeting beneath the Golden Horse quarry. Peak result was 0.12m @ 58.1g/t Ag. Extensive soil sampling program completed as well as reconnaissance rock sampling.
• Daeam Project: Extensive soil sampling program completed as well as reconnaissance rock sampling with a peak assay of 3.56g/t Au.
• Dokcheon Project: Reconnaissance rock sampling completed with a peak assay of 42.7g/t Ag.
• Yeongdong District: Extensive reconnaissance rock sampling completed with a peak assay of 2.36g/t Au and 8.9g/t Ag with work ongoing.
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