Big Wins from Achilles Drills

Key Concepts

• Achilles Deposit: A mineral deposit, specifically a gold deposit, located in the Kobar Basin.
• Northern Zone: The primary area of interest within the Achilles deposit, characterized by the convergence of geological structures.
• High-Grade Chute: A concentrated zone of high-grade mineralization within a deposit.
• Structurally Hosted Deposit: A mineral deposit formed by geological structures (faults, fractures) that control the emplacement of mineralization.
• Kobar Basin: A geological basin where the Achilles deposit is located, known for its deep-reaching structures.
• Drill Holes: Holes bored into the ground to extract rock and soil samples for geological and mineralogical analysis.

Achilles Deposit: Northern Zone Focus

The northern zone of the Achilles deposit is identified as the focal point, where two significant geological structures converge. This convergence is creating a "nice high-grade chute" that is extending to depth. The deposit is characterized as "structurally hosted," meaning its formation and extent are dictated by these intersecting geological structures. The observed manifestation of these converging structures in this zone is described as "really nice."

Depth Potential of Kobar Basin Structures

The geological structures within the Kobar Basin are noted for their significant depth potential, extending down to approximately 2 kilometers. The mineralization at Achilles is believed to be concentrated at the "focal points" of these deep-reaching structures. This suggests a substantial potential for the deposit to extend "a long way" at depth.

Next Steps and Drilling Program

The immediate next steps involve the analysis of approximately 11 pending drill holes in the vicinity of the northern zone. The company recognized the potential of this area and strategically positioned a drill rig to "really nicely define that zone" through extensive drilling.

Drilling Results Timeline:

• Drill results are expected to be released incrementally over the "next weeks to months."
• Some results will continue to flow into the following year, potentially as late as February.
• A portion of the drilled samples has not yet reached the laboratory for analysis.

The extensive drilling in this area is visually represented on accompanying maps, encouraging stakeholders to review these results for upcoming "exciting drill results."

Conclusion

The Achilles deposit, particularly its northern zone, presents a promising high-grade, structurally hosted mineralization extending to depth. The deep nature of the Kobar Basin's structures suggests significant upside potential. An ongoing and extensive drilling program is underway to further define this zone, with a steady release of new results anticipated in the coming weeks and months, extending into the next year.