Re: neofight AGM report
in response to
by
posted on
Oct 18, 2013 02:35PM
CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)
None of the planned drilling from the FS explains the higher costs. We don't know, though, if those costs are restricted to drilling. They are also working on the EA, and the Port of Stewart, which needed some work as well. There is also the large costs associated with the BCHydro study. There is also the Mess Creek Road that could be having work done because it becomes urgent once the plan is to go ahead.
As I said yesterday, the FS details recommendations for Phase I drilling that includes one drill hole into each of the ES, GK and Mike zones as well as two drill holes into the Discovery zone. A further two drill holes were recommended in the Paramount zone. Finally, two more drill holes were recommended to run alongside CF423 and CF434 which are in the West Breccia Zone and the western margin of the proposed pit wall. As part of Phase I it was also recommended that a Titan survey be run between GK and ES and then East towards Mt. LaCasse.
This was all estimated to cost $2,129,000.
Then Phase II was recommended following the positive results of Phase I. This would include about 6 drill holes to follow-up with the ones in the GK, ES and Mike zones. Also, 4 more drill holes on the west wall of the West Breccia Zone.
This was estimated to cost $1,391,000.
We have also heard they were drilling east. That doesn't seem to be mentioned in the FS plan. (We've discussed this at length already.)