Ann: MD Presentation at RIU Sydney Conference, page-15

I won't speculate on the likely outcome of the first drill holes - look at the available evidence and draw your own conclusions.
Regardless, it would be good to get an update as to how they plan to move this along.
Announcement 9 May noted drilling complete and 'initial drill results being received from laboratory'.
They can't just be waiting for Rebeca assays, as they were talking about drilling near the existing Topacio resource area anyway, so they must be spending their time planning next moves, I guess.
Clock is ticking, with Stage 1b requiring Newcrest to spend USD 2.2M by 25 August (some of that would of course already be spent on drilling and lab work), including the cost of exercising OVL's option to acquire Topacio – if they want to get to their 51% interest in the project.