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Message: Re: Timelines to produce a 43-101
1
May 12, 2009 04:26PM

You missed my point. San has in the last 2 years spent over 13 M on drilling. At $85-100 per meter that is 150,000 meters of drilling done in the last 2 years with 4 rigs on surface. In the same period Orbit had 3 rigs drilling underground that do not come under the exploration budget. That is a lot of core assays to evaluate and map to put together a resource report if you consider that it took 3 months for Roscoe Postle to put together a 43-101 for 4000 meters of drilling for First Nickel. Mr. George was on site alone almost a month. I doubt he has only looked at the Hinge. The prep work for the complete update has probably been done at the same time. That is purely speculation on my part. But if our average cost of finding ounces is $15 as they said it would be lower than $20 from last report, we should be adding 1.2 to 1.5 m ozs to our reserves very soon just from the surface drilling.

1
May 13, 2009 08:03AM
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