Ann: Drilling Completed at Challa North, page-3

Excellent.
They have completed total of 1,563m of drilling in very short time and now samples will be dispatched for assay with results expected within 4 weeks. We will see what we have there in 4 weeks time. Very exciting .

And now Watsons Well Vanadium Project is under progress.
The field activities, including surface sampling will be resumed very soon.

"Results of the upcoming mapping program will be analysed to determine the next phase, being either ground based geophysics or drilling". That means SFM might start drilling for vanadium at Watsons Well sooner than expected.

This project is very promising according to my research. (I have done a deep research covers all vanadium explorers and projects all around the world, with their tonnage, grades (in-situ and in-concentrate, cut-off grades, strike length, etc.). I have found the sampling grades of SFM's Watsons Well project interestingly high in compare to other projects. The peak rock chip assay returned 1.64% Vanadium Pentoxide (V2O5). And the 5km strike length is quite good.

More importantly, as I said before most of the vanadium projects in Australia (even more than half of them) are located in the same area, close to Perth, between Mount magnet and Sandstone. Other than this the largest vanadium resources are located in Bushveld Igneous Complex of South Africa.

My research tells me that the in-situ grade can be low but in-concentrate grade can be much higher than that. It all depends on the Fe, silicates and other impurities of the ore. In the SFM's project area the in-concentrate grade can be very high according to the other company results.

Very exciting for SFM holders again.