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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%)

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Message: Re: last quarter
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Aug 15, 2014 11:29PM
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Aug 16, 2014 04:35PM
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Aug 17, 2014 05:34PM

From the same news release.

Van Dyke Copper Project

During the quarter, the diamond drilling program (6-8 holes approximately 5,000m) to verify the historical estimate completed by Occidental in the 1970's commenced. Contracts were also executed with various contactors to review the historical data and provide input on the geotechnical, metallurgical, hydrogeological, environmental and resource aspects of the oxide portion of the Van Dyke copper deposit.

Drilling Activities:

The first drill hole (DDH VD2014-01) of the verification drilling program was completed to a depth of 639.3metres (2,097 feet) and intersected a 167m metre thick zone with visible oxide copper minerals in the Pinal Schist and a lower interval of sulphide mineralization (from 338.8m to end of hole at 639.3m) consisting of vein and fracture controlled chalcopyrite-molybdenite mineralization hosted in the Pinal Schist and a granodiorite/quartz monzonite porphyry. This hole was terminated in weak chalcopyrite-molybdenite mineralization. A second diamond drill has been added to the Van Dyke drilling program to reduce the time required to complete the verification drilling program and lower costs associated with the drilling.

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This is from January 9, 2014 news release that outlines the drilling plans for Van Dyke.

Diamond Drilling Program:
MMTS has recommended a minimum 5,000m (approximately seven holes) diamond drilling program for the Van Dyke copper deposit to confirm the historical drilling results. The program consists of twinning seven historical drill holes, re-submitting pulps from original drill core samples and splitting the mineralized core interval for certain historical drill holes to confirm the historical analytical results (see table below). Based on the results of this sampling, MMTS plans to use the new data to verify the accuracy of the historical information and then complete a NI 43-101 compliant resource estimation for the Van Dyke copper deposit.

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March 19th, 2014 news release.

  • Layne Christensen Company has been contracted to complete the 7 hole; 5,100 meter ("m") diamond drilling program on the Van Dyke oxide copper deposit. The drilling will commence immediately,

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March 12th, 2014 news release. This is first quarter results.

The Company also incurred $769,718 in expenditures toward furthering the development of its Van Dyke copper project in Arizona

Hmm...expenditures same as well too for the first quarter when drilling hasn't even started yet?

So I do agree that it's unclear on exactly how much the drill program is and what was considered what within the "expenditure" expense. But for you to go and use this number and then multiply an assumption of "drilling" 5 more holes and say it'll end up costing $3 million + or so is just foolish. You're literally trying to mislead people about the costs of Van Dyke when it is unclear from the news release we've received. If you were truely concerned, I would recommend calling the office and ask. But it seems like "calling the office" is something you guys won't do because Elmer loves to "lie" to shareholders.

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Aug 18, 2014 05:25PM
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Aug 19, 2014 12:53AM
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