Sorry for not getting back to you earlier but I've been busy on site both at Burbanks and our Mt Thirsty Ni/Co project near Norseman.
We have had annoying delays at Burbanks due mainly to our contractors removing one of the underground diamond rigs just after Christmas. Our production rate has dropped from 3,500m per month down to around 800m per month. When you are drilling deep holes of around 350-400m this represents only 2-3 holes per month whereas before Christmas we were drilling 10 holes.
We have only recently commenced the testing of that deep high grade intersection in the past week. The holes testing this target are around 350m long and take almost 2 weeks to complete. Coupled with a huge backlog of samples in the lab in Kalgoorlie, we won't be seeing results for a while yet. I was hoping to release results in late February but because of slow drilling production I haven't been able to complete the holes.
We have been drilling other priority targets from underground including Hadfield deeps and eastern reef extensions. Hadfield produced around 120,000 ounces at the turn of the century and has great potential at depth and is relatively close to existing underground infrastructure.
We have a very busy 4-5 months ahead at Burbanks and I'm confident you won't be disappointed with the results from all this work so hang in there.
The resource calculations have been put back due the slowing of drill production as well. Our geologists are working with Golders in the coming week to finalise the reserves we hope to mine over the next 12 months. We should be in a position to announce the reserve numbers by the end of March.
Our half yearly is due out very soon.
I hope this answers your questions.
BAR Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
