Announcement

Quarterly Activities Report to 30 September 2021 & Appendix 5B

25 October 2021

Quarterly Activities Report to 30 September 2021

  • Deokon Project (SAU 100%): Drill testing of the Nettle zone completed, with a third diamond hole for 210.75m completed.  Assays received with a peak intersection of 8.89m @ 0.16g/t Au.  Further exploration in this area is required.
  • Yeongdong District (SAU 100%)Regional reconnaissance rock sampling continued with a peak assay of 16.6g/t Au in float with work ongoing.
  • Project Generation (SAU 100%): Systematic baseline geological, geophysical and geochemical database compilation process initiated to help streamline future Project Generation work.
  • Newly appointed exploration manager, Mr Robert Smillie, is on the ground in South Korea post quarter end to drive and expand exploration activity.
  • First tranche of 50m BMV shares (25% of the ultimate total of 200m BMV shares) received for the sale of the Gubong and Kochang Joint Venture.
  • Total cash, listed securities and receivables of approximately A$20 million.
  • Current Managing Director Mr Simon Mitchell to depart at the end of October.

To download the full report please open the pdf below: 

Quarterly Activities Report to 30 September 2021 and Appendix 5B