Our Yataga Valley Copper Project in North Queensland continues to take shape, with the first deep diamond hole now complete and a second one still drilling.

The first hole, 26YVRD012, reached 735m and intersected a broad zone of Green Shear and Vein structures between about 330m and 470m downhole, with visible chalcopyrite (a copper sulphide mineral) seen alongside pyrrhotite and pyrite in parts of that interval. The second hole, 26YVRD015, is now past 429m and has started intersecting similar sulphide-bearing structures about 1km to the south. It's too early to know how the two holes relate to each other, and drilling on the second hole is continuing.

It's important to be clear about what this does and doesn't tell us. These are visual observations from the core, not laboratory results, and visual estimates are never a substitute for assay data when it comes to actual copper grades. The 140m interval in the first hole describes the geological zone where these structures occur, not a mineralised result. We'll only know the real copper grades once laboratory assays come back, and we expect the first of those from around the end of September through to mid-October.

Alongside the drilling, geological mapping has sharpened our targets on the western side of Yataga Valley, an area not yet drilled. Subject to how the current hole progresses, we're planning to drill there next.

We'll report the laboratory results once we've received, checked and reviewed them. If you have questions about this announcement, we'd welcome you asking them through the investor hub.