Fortunately my wife is out of town for a couple of weeks, so my computer time rules no longer apply. From ECU's latest NI43-101 on Sedar, Micon recommends a $6.1 million future drilling program. I do not know if this will copy right but the table is pasted below:
Table 19.4
Follow-up Exploration Budget on the Velardeña properties
Type of Exploration Work Mine Target Number of
Drill Holes
Drill hole
Depth (m)
Cost
(US$)
SURFACE DRILLING Terneras West Lateral 4 2,000 $300,000
Terneras East Lateral 6 3,000 $450,000
San Juanes incl in San Mateo 0 $0
San Mateo West Lateral 4 2,000 $300,000
San Mateo East Lateral 6 3,000 $450,000
Chicago 6 3,000 $450,000
Total Projected Cost 26 13,000 $1,950,000
UNDERGROUND DRILLING Santa Juana Lateral all veins 4 3,000 $315,000
Santa Juana Depth 2 2,000 $210,000
Roca Negra Lateral 4 2,000 $210,000
Terneras East Lateral 2 1,000 $105,000
San Mateo East Lateral 2 1,000 $105,000
All Mines Bazookas (US$60/m) 100 6,750 $405,000
Total Projected Cost 114 15,750 $1,350,000
UNDERGROUND WORKINGS Terneras East adit 200 $550 $110,000
Ramp San Mateo 900 $1,300 $1,170,000
San Mateo nivel 6 400 $550 $220,000
Roca Negra nivel 6 400 $550 $220,000
Ramp Chicago 600 $1,000 $600,000
X-Cut ramp to Terneras 200 $1,300 $260,000
Drift Terneras West 400 $550 $220,000
Total Projected Cost 3,100 $2,800,000
GRAND TOTAL $6,100,000
