Drilling into the news release
posted on
Mar 16, 2010 10:27PM
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There it was, in bold: Canadian Gvt announced $11 million over two years "to accelerate the review process for resource projects in the North." in this year's budget....
This is good news, as anything that helps GNWT get better turn-around for Tyhee's EA is a good thing. IT also indicates that the government is keen on any development that can help the economy. Tyhee may be in the sweet spot, where the fact that the diamond mines are moving inexorably closer to their end of life, Yellowknife and GNWT need other mines to come on line. This is salient news, as it may mean that before December Tyhee could have made major progresss on permits. That would be big.
Here is a link for an articulated, low ground pressure drilling rig. I'll ask DW for more information on the rigs they have traded in for.
http://www.edlivingston.com/Buggy%20Drill%20Package%20Timberjack%201126-1%20Pic%201.jpg
It makes me wonder how long they plan to have the rigs drilling for. As these rigs could stay on the property and keep drilling year round, if the money is there and the rigs perform well. This could come with some teethign problems, but I think the drill contractor owns those risks. Any cost savings in drilling is wonderful, as it can make the cost per ounce discovered stay very low. It's a force multiplier, if it's reliable and really is less costly.
I looked at the drilling plan (Tyhee.com) and was very happy with what I saw. We should see results every two weeks, if not sooner. One or two great hits to confirm that the East zone is a real discovery will be a nice way to take us into the summer.
The 9.62 g/t over 2.2 metres is nice, but was not really highligted in the news release (too short an intercept?).
Good times.
SKELEG