Supposedly, the $95k government grant which SOC had in its possession for 18 months and which the current management allowed to lapse was to test the conductor. Before things turned unpleasant [and when I trusted the previous management] I kept myself well informed. I happened to ring one day when M. Leu had returned from a field trip to Halls Peak. He had been on site with the driller and they had settled on the targets and the siting of the drill pads. All that was left to do was get the approvals. That turned into a lengthy saga because of minor technical bureaucratic red tape and the whole process stalled for nearly a year.
Then came the change of management, the loss of the grant ..... and now we have a completely different plan. The extent of the surface deposits is actually fairly well understood. Keep in mind the area is dotted with numerous mine sites from the 70's. There are mining records and there is quite a bit of geological data. Geologists have looked at this site over the years and judged it to be likely hiding something deeper ... SOC's website quotes some of them. Definitely, sink a few deep holes and you might not hit anything .... but that is always going to be the case. Drilling and confirming something which is already known is not going to do much value add for the company. If drilling to test the conductor is too high risk for the company at the present time .... then concentrate the funds where they will do the most good and come back to Halls Peak when there is more money in the kitty.
I disagree they are "exploring cautiously and intelligently". The Canadian lithium is a waste of funds and the Nevada prospect is a joke. Too late, the money is already spent.... but the drilling of Halls Peak [already thoroughly planned and which intended on trying for the conductor] could have happened by now.
SOC Price at posting:
0.5¢ Sentiment: None Disclosure: Held
