At the commencement of the much delayed drill out at Prarie...

At the commencement of the much delayed drill out at Prarie Downs starting 27 March and over the last two months IMHO PDZ has almost tripled its resource base. They started out with a one million tonne resource and by my rough calculation they are in the range of 2-3 million tonnes already with ore zones open along strike and depth and with lots of hi grades. That is an outstanding result for about ten weeks of drilling.

The original proposal was to drill out and develop a +1,000,000 resource to produce 20,000 tonnes of zinc which would give the project a discounted NPV of around $250,000,000. PDZ hired consultants to develop a BFS based on modular plant, recently they shifted their thoughts to a fixed plant running a much larger underground mine. Potential in the project area was around 10,000,000 tonnes of ore BUT THEY HAVE ONLY DRILLED about 1,200 meters of over 10 kms strike to get into that 2-3 million tonne range. IF they upgrade the project to a larger volume throughput the NPV soars way above $250 million and may in fact double. At its current sp of 70 cents / $25 million market cap PDZ could be a 10 bagger.

BFS data is due for release by end of May (2 days left).