This is drilling for exploration- to prove out what the indirect methods- i.e.  ZTEM, Veggie, geochem studies indicate is at HM. It is required before any investors would commit large sums to develop a mining project. It has been hoped that a large entity would be willing to put up the much smaller amount- $2 million- for a proper and standard drilling campaign, with the option to buy in if successful. But despite the overwhelming evidence that such an initial investment would result in a successfully defined ore body- thus far this has apparently and inexplicably not been achievable.

This drilling would not result in the recovery of any economically significant mineral. However- it could obviously be extremely economically significant- in a way, more so then the value of any small amount of mineral. The very act of drilling- so long awaited and with such expectation of success, should immediately and significantly raise the PPS- making all future funding more feasible. And, of course, if there were to be positive results- everything else would follow.

As far as funding planning- would it be best defined by number of holes, rather than duration of drilling? I believe it was determined that an initial campaign would require about 10 holes. And I'm not sure whether that was what was anticipated statistically to be likely to successfully demonstrate economically significant ore by JB, or whether that was the number of holes needed  to properly estimate the size of the ore body- that may require even more drilling. One of our more knowledgable posters such as VP or- of course- JB, himself,  might clarify this. But I believe 10 holes were mentioned by JB previously.

In any case- it does not seem feasible to self fund the entire program. That's why we've been seeking outside funding. The suggestion here is simply to at least begin with a beginning and go from there- rather than waiting and doing no drilling until the complete 10 hole campaign is funded. Getting the $2 million for that complete program does not seem in the cards at this point ( Unless JB publishes an NR tomorrow announcing that just such a deal has been struck- wouldn't that be something- I would happily then shut up.).