In the current surface drilling program about 6,700m of RC drilling assays has been announced of planned 10,000m while about 4,350m of DD assays have been released.
Since drilling started at beginning of August (maybe late the last week in July) but not with all 4 rigs and assuming a 3 week turnaround in assays then we have only seen about 5 weeks of drilling assays maybe 4 complete weeks with 4 drill rigs - if assay turnaround is only 2 weeks then increase these figures by 1 week. They should have finished the 10,000m of planned RC drilling by now and are probably close to about half way through the 15,000m DD program as I write this post (total planned 25,000m program).
With 3 DD rigs drilling 500m per week for each rig (my estimate) they will drill about 6,000m per month so they may finished the 15,000 program around the end of October maybe early November.
Seems to me they may end up drilling more than 25,000m surface drilling in this half year unless they reduce the number of rigs (eg ditch the RC rig about now).
SPR Price at posting:
$1.41 Sentiment: Hold Disclosure: Held
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