RE:Lamaque Deep Resorce Estimate - 4Moz?
I'll have a stab myself at how much drilling is required. I'm assuming that drill holes will be 50m apart. To cover the width will be 5 holes and the depth requires 20 holes. That means that 100 holes will be required to drill the whole body of the deposit. There will also be some holes that go outside the body as they try and define the size and shape, let's say another 20. So 120 holes and at a estimate of an average of 2kms (coming in from an angle) that is 240,000ms of drilling. If they adopt the same strategy as they did with Triangle, then 10 drills could be used once they get a feel for what is there. 20,000m drilling per month could be possible at the drill campaign height, so I think that in 18 months time, they may well have been able to get a RE for the 4m oz at Lamaque deeps. Cost will be in the region of $25 - $30mil. Whether or not this is their intention I don't know, but there is cash currently not earmarked and if Eldorado decide to cough up more cash, I think it is possible that there are enough funds.