Grok - seems to think The Diamec Smart series is ideal for...

Grok - seems to think

The Diamec Smart series is ideal for Gronnedal drilling (with diamond coated drill bits) (the percussion drilling last time use a circa 1983 equipment design).
https://www.epiroc.com/en-au/products/drill-rigs/exploration-drill-rigs/core-drilling-rigs/diamec-smart-8
The deep drilling version is supposedly good for 1400m

Consider this as all fantasy math and estimates - getting Grok punch out a delusion it can pluck incorrect figures or change figures when you re-run the same query.

It suggested the placement of $2M, is a 50% - 70% allocation of budget for the drilling programme (though there has been a history of script payment also).
Thus a likely 2000m to 4000m (2 or 3 rigs).

One of the shareholders prompted the idea of re-entering the existing drill hole collars.(which might only be another ~100m from the carbonatite core.
Less labour is required, but you paying a ~15-20% premium for the equipment. So could achieve 100k - 200k savings with less automated drilling equipment.

Sensitivity: 2,000 Meters (10 holes, 2 rigs)

1. Drilling Costs: 2,000 m × $200/m = $400,000
2. Consumables: 2,000 m × $50/m = $100,000
3. Labor: 2 rigs × 35 days × $1,000 = $70,000
4. Mobilization: 2 rigs × $75,000 = $150,000
5. Setup/Re-entry: (8 new × $2,000) + (2 re-entry × $3,000) = $22,000
6. Geophysical Support: $50,000
7. Core Logging/Assays: 2,000 m × $50/m = $100,000
8. Overhead: 15% × ($400,000 + $100,000 + $70,000 + $150,000 + $22,000 + $50,000) = 15% × $792,000 = $118,800
9. Total Cost: $910,800
10. Per-Meter Cost: $910,800 ÷ 2,000 ≈ $455/m

Sensitivity: 4,000 Meters (20 holes, 3 rigs)

1. Drilling Costs: 4,000 m × $200/m = $800,000
2. Consumables: 4,000 m × $50/m = $200,000
3. Labor: 3 rigs × 50 days × $1,000 = $150,000
4. Mobilization: 3 rigs × $75,000 = $225,000
5. Setup/Re-entry: (16 new × $2,000) + (4 re-entry × $3,000) = $44,000
6. Geophysical Support: $50,000
7. Core Logging/Assays: 4,000 m × $50/m = $200,000
8. Overhead: 15% × ($800,000 + $200,000 + $150,000 + $225,000 + $44,000 + $50,000) = 15% × $1,469,000 = $220,350
9. Total Cost: $1,689,350
10. Per-Meter Cost: $1,689,350 ÷ 4,000 ≈ $422/m

Final Estimate

• 2,000 meters (10 holes, 2 rigs):
  • Cost: ~$910,800
  • Per-meter cost: ~$455/m
  • Timeline: ~1–1.2 months
• 3,000 meters (15 holes, 2 rigs):
  • Cost: ~$1,245,450
  • Per-meter cost: ~$415/m
  • Timeline: ~1.5–1.7 months
• 4,000 meters (20 holes, 3 rigs):
  • Cost: ~$1,689,350
  • Per-meter cost: ~$422/m
  • Timeline: ~1.5–1.7 months
• Recommended: Use 2 rigs for 2,000–3,000 meters to stay within budget and complete in ~1–1.7 months (one season). For 4,000 meters, 3 rigs optimize efficiency within ~1.5–1.7 months.

Notes

• Per-meter cost variation: Higher for 2,000 meters due to fixed costs (mobilization, geophysics) spread over fewer meters. Economies of scale reduce per-meter costs at 3,000–4,000 meters.
• Cost drivers: Mobilization and labor are significant in Greenland’s remote setting. The Diamec Smart 8’s automation reduces labor and consumable costs compared to manual rigs.

  
  

  
  
• Budget optimization: Targeted drilling (geophysical guidance) and carbonatite’s faster rates (45 m/day) keep costs down. Re-entering historical boreholes saves ~$1,000/hole vs. new drilling.

Recommendations

• Select 2 rigs for 2,000–3,000 meters to minimize costs (~$0.9–1.25M) and complete in one season.
• Use geophysical data (magnetics, radiometrics) to target high-grade carbonatite zones, maximizing MRE contribution.
• Assess historical R-Core boreholes early to ensure stability for re-entry.
• Leverage Diamec Smart 8’s automation to maintain high drilling rates and reduce consumable costs.