Ann: Karonie RAB Drilling Results, page-21

'........

the drilling results were definitely not good.'​

Well, let's have closer look eh - my emphasis btw!

1. RAB drilling at Dragon and Manhattan identified up to 22m of transported alluvial cover and has established that historic shallow auger sampling and soil sampling are not reliable sampling methods along CSZ, and that RAB drilling is required. Subsequently Phase 2 RAB drilling will put less weight on previous soil and auger results and instead target flexures and pressure shadows identified on aeromagnetic images that are prone to dilation and gold mineralisation associated with sinistral movement along the Claypan Shear Zone (Figure 2).

2. Coarse grained fractionated dolerite units displaying leucocratic segregations (typical host rocks to Bombora, Mt Charlotte, Fimiston, Hidden Secret gold mineralisation) were identified within RAB samples at both Dragon and Manhattan prospects, and can be correlated to subtle linear and/or folded magnetic highs. These magnetic highs will also be targeted in the proposed Phase 2 RAB drilling which includes 180 RAB holes for ~8,950m drilled on 10 lines across the Claypan Shear Zone with a drill line spacing 2.3km - 4.6km, hole spacings at ~100m and an estimated hole depth of 50m (Figure 2).

3. The RAB drilling at Dragon (128 holes for 3,982m) established that the greenstone belt has a true width of at least 2.2km (beyond previous aeromagnetic based interpretations),

4. The MD's summary: “Given the minimal strike extent of the Claypan Shear Zone tested by the recent RAB program, and the discovery of significant transported alluvial cover limiting the value of all previous sampling methods, Alchemy are very encouraged by the most recent drilling results, and the alteration and rock types seen, and we’re looking forward commencing the Phase 2 RAB drilling later this quarter.”

All is not lost as some appear to believe, far from it imo!