Re: News GOOD
posted on
May 19, 2010 10:42AM
(PRESS PROFILE TAB FOR FACT SHEET & UPDATES)
This is good news. Nothing stellar, however in expanding the resourc with economic grades intercepted, this confirms the potential to increase the resource at Clan Lake.
It warrants more drilling, and provides a bit more geological data for follow-on drilling.
WIth the tracked drill rigs on site, and with this data and the cores from the final 6 holdes, I bet right now they have identified where to do some follow-on drilling.
As Tyhee has sufficient cash for the exploration program to continue, from the data in the most recent financial statements, I would expect to hear that follow-on drill sites have been identified, and will be drilled off this summer.
But the more important news is the confirmation that the Pre Feas will be in the next month. It also introduces one new item, that I have not seen before, that a comparison between contracted and company owned & operated mining equipment will be completed.
In the past, I believed that they would go with a contractor. It's expensive, but a much simpler solution. If they are looking at company owned and operated, this makes me think that they could be considering a joint venture with a larger company, such as a producer, as such a deal could include using the experience of the new partner, rather than using a contractor.
Just my own thoughts and speculation, but the news today is GOOD, I like it!
SKELEG