The recommendations for future work on the Van Dyke project set out in the Technical Report are:
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An exploration program estimated to cost $4.675 million,
The purpose of the exploration program is two-fold: 1) to expand the area of mineralization laterally from the present deposit area that is not confined by property boundaries, and 2) to upgrade the quality of the resource from the Inferred category,
- An 8-hole, 4,200-metre diamond drill program to evaluate the untested area south of the Van Dyke Shaft where the deposit is open for possible expansion,
- A 10-hole, 6,000-metre program of infill diamond drilling to allow for a higher level of confidence in future resource estimates,
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The 8 holes are for expansion of the area, so yes - optional drilling. On the flip side - those 8 holes may significantly increase value? If we are going to do a PEA, it would make sense to do it on the expanded area. If they decide proceed now vs. pausing for better market conditions.
Are the 10 holes optional? Do we need to upgrade the quality to make it saleable? I don't know.
Hopefully we hear more about the plan from here and how it will be funded in an upcoming NR.
