The Oroco permit receipt news release left a few questions unanswered for me. So I reached out to Adam and got some good info. Hopefully this will help ease some of the concerns about the Sinaloa permit situation/environmental impact study requirement and timeline for drilling.
- Chihuahua (Brasiles) more liberal with permits, thus 46 location. Sinaloa (NZ) offered fewer holes initially, but quick ~2-week process to permit additional holes, allowing for continuous drilling in NZ.
- Simultaneous drilling in Brasiles and NZ, with equal # of rigs (though could vary under certain circumstances).
- Confidence in both zones is high due to historical and 3DIP.
- $OCO’s Hydracore drill will be used in NZ.
- Additional contracted also Hydracore (less powerful).
- 9 holes in NZ will likely not be enough for 43-101 but permits for additional NZ holes about 2 weeks.
- Roads, water, crew camp in Brasiles ~4 weeks til completion.
- Drilling will likely start in NZ and initial holes in both zones will be helicopter supported. Thus Brasiles drilling can start prior to road/water/camp completion.
- “When can we expect initial drill results? End of Q3” - “I expect much sooner. Assay lab turnaround will be crucial.”