I have been hinting about this for a while and thought I might post it
Lca1 was applied for to drill a new hole to satisfy jorc requirements. Having reviewed the jorc code which I posted a week or so ago it seems it’s not about a new hole as such but rather having cores. Now obviously imo we cannot get cores from gb2 or cc32 as it was an open hole and from what I know cores were not taken when cc32 was originally drilled by our predecessors. There were some cuttings from gb2 referred to in the November preso but that’s not of great moment.
Here is part of the company preso from April, which confirms the need for core.
This from our latest ann again confirms core drilling required
My hypothesis is that things have gone so well that the team are keen to fast track even quicker. Potentially we could avoid the cost of lca1. Let’s be honest part of lca1 was hoping for higher grades, they may well be there but from our results we know we don’t “need” it
My hypothesis continues that we piggy back off another company for their fresh drill hole and we do a Re entry also. Bruce imo has suggested a piggy back might be a strategy. Trouble is finding someone who wants to dig a new hole near us .......well problem solved. On July 13 the Utah government approved our friends at wesco to drill. The site is cane creek unit 7, I have below shown the site and I have circled in red cane creek 32 which is our site. Clearly it is very close, and potentially for a small fee we could ride with them to take cores and a deal would be done re the land holding as we have already taken at least 2 changes of ownership from wesco so far. Wesco also have another apd pending also which is another option.
Just a thought and “may be wide of the mark”
