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CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)

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Message: Drilling
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Sep 12, 2012 04:25PM

Do we know if they are drilling now? Someone posted that they again stopped drilling or sent the drill back so I am confused as to what is now transpiring.

Drilling was stopped. Then late last week, drilling was to re-commence, the drills were readied, but before they could be deployed to site - instructions were given to halt.

Perhaps the $ from the PP is to proceed with plans to drill in Arizona instead of trying to prove up additional resources at Schaft; perhaps being that its felt at this time the return on additional drill results will result in minimal gain in buy-out negotiations.

Posters have consistently stated they believe Elmers preference is to explore - it appears that is the plan:

- while awaiting final preparations for Schaft decision

- to prove up a new property (otherwise why purchase)

jaf.

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