Re: Probe Mines Results Suggest Project Cannot be Mined Economically – analyst
posted on
May 01, 2014 08:44PM
Some people do not think that the results were all that good, but what you have to realize is that they had only a limited time on the ice, when they started drilling on the ice they assumed that the formation kept plunging deeper as they went east as it did in the previous holes to the west, what they found out was that it leveled out as Dave has pointed in the news release.
Therefore, what you have to understand is that they are drilling on an angle through the formation, they are not drilling straight down, it is on an angle. So, when they do thier caculations on the angle of attack of the drill in conjunction with the plunge or dip of the structure they believe it to be in the sweet spot of the formation. But, since the formation leveled off and the limited amount of time on the ice when they started getting back results they realized that they had under shot the sweet spots in the formation.
So, when they come back to do more infill drilling they will shallow the angle of attack of the drill to hit the best part of the formation. This will up the grade and the overall look of the HGZ.
After talking with Dave, he loved the results we had in the latest drill results and is looking foreward to te near future.
Hope this wasnt confusing.