Re: Why would rush in another drill rig.....jake stone
in response to
by
posted on
Oct 11, 2007 04:34AM
NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)
If you go back and listen to the interview by RN an IBK and the Geologist(forget his name); RN made it quite clear the reason for bringing in another drill. I think he said that this is a difficult area to drill and the drilling is not easy. I forget his exact words, but I believe he went on to say that for the hole they were drilling at that time was taking a while.
Bottom line is that they know they have an area worth the added effort. They brought in a bunch of Geo's and were doing all type of down hole geophysical test. The camp was buzzing and growing.
Noront is doing everything in their power to increase shareholder value. And that's one of my main reasons for investing in NOT. We all know that tonnage estimates are months away. To even expect a 43-101 estimate this early is out of the question. NO ONE EXPECTS THAT, including the brokerage and MM's.
The second drill is what I would expect, and as more holes hit mineralization, I would expect Noront to add man power and equipment to the DE project. I would not be surprised to hear that more drills will be added in the near future.