Ann: Outstanding Drilling Results from the Anthill Gold Project, page-101

I was confused as well, I must admit.

The way I understand it is: we have a Vanadium project consisting of our QLD tenements, and they are 'earning in' - to a maximum of 75%.

I don't believe we have any tenements up there that are separate from 'the project' that AXF is earning in to, but I stand to be corrected.

Aside from the above, AXF have also grabbed some tenements of their own around the IRC tenements.