Ann: Response to ASX Price and Volume Query, page-19

Been a bit quiet here for awhile. A good sign in many ways.
ELORO drilling since late Oct:

"Although La Victoria is located near world-class gold mines including Yanacocha (Newmont Mining), La Arena (Tahoe Resources) and Lagunas Norte (Barrick Gold) in Peru’s prolific Northern Central Mineral Belt, Eloro’s wholly-owned subsidiary in Peru is conducting the first drill program on La Victoria despite more than 30 years plus of artisanal mining on the property,” said CEO Tom Larsen. "This program should provide effective insights into the continuity of mineralization at depth that the artisanal miners and our geological and geophysical teams have discovered on surface."
The planned diamond drilling program at Rufina will consist of 16 holes totalling 3,500 m to an approximate down hole depth of between 150 m to 280 metres.  A drill contract has been signed with Energold Drilling Peru S.A.C. for NTW diamond drilling. The portable drill rig employed by Energold can be readily moved by existing public trails and requires only minimal drill pad preparation.  Two drill rigs will be used with a staggered start to optimize efficiency and reduce overall cost per metre.
Thirteen of the holes are designed to be drilled across the mineralized shear zones and tear faults at Rufina; eight of them will test both the gold mineralization found on surface and the Induced Polarization (IP/Res) anomalies while the remaining three holes will test relevant IP/Res anomalies within the Rufina zone approximately 50 metres below surface.



I hold a fair chunk of free carry and think that O'Keefe's confidence in this play, along with the nearology and most importantly, the high grade artisanal finds, gold at surface, and geology of the tenement will have me holding some into drill results. I reckon we should be hearing some updates soon from the drill programme.