PSL 0.00% 1.7¢ paterson resources ltd

Ann: Site Works Completed and Drilling Set to Commence, page-10

ANNOUNCEMENT SPONSORED BY PLUS500
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM
CFD Service. Your Capital is at risk
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
  1. 3,145 Posts.
    lightbulb Created with Sketch. 8720
    A bit surprised they have completed the site preparations given what was visible on the 28/8/21 satellite pass. Could be a hint about the Sentinel date being the date presented rather than when the image was taken and process time. The sites appear between the 23rd and 28th image dates.

    https://hotcopper.com.au/data/attachments/3528/3528537-1964dde091a706a6f2e866684cbcf090.jpg
    Moving a dozer around also takes time, especially if the tracks need to be up graded. This makes me wonder if they meant the Grace area (holes 17-32) is complete with the wider area a work in progress.

    Does not really matter too much as the rig is not due for another couple of weeks and all sites will be ready. After my recent post on this I did wonder about rig availability so the delay comes as no great surprise.

    The CR mentioned an expanded drilling program at Grace. The announced program - March: Totaling the proposed hole depths was for 5750m (+EIS 900m) so the CR was probably in the back of their minds a while back to expand from 3000m - perhaps.
    PSL #s in red beside my initial ones.

    https://hotcopper.com.au/data/attachments/3528/3528745-ef1ccb751054ec5bccdfc0b84724733f.jpg


    Getting your ducks in a row - (among other things) heritage, POW's, dozer, rigs for remote areas is a real challenge. Access permission from NCM may also be a factor - used to be back in the day.

    Implication for assays? - December to early 2022? A possible best could be an early batch by late November or so as it is unlikely the labs will be able to work much quicker than they already are (Pure guess but seems to be the case these days).

    Rio are probably sitting on thousands of metres of assay results for their own and JV projects elsewhere in the Paterson. Annoying but they can and do. PSL want to get results out quickly, good ones anyway, but will be constrained by their management style (add your own comment) and practicalities.

    Welcome to exploration in the Paterson and elsewhere around the world in times of Covid.



 
watchlist Created with Sketch. Add PSL (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.