Drilling According to Metanor’s 5th June Press release they have two drills working permanently underground and in May they drilled a total of 1,215 meters, or ~ 600 meters per drill per month. There have not been any drill results released since 5th June. However, the press release stated that Metanor proposes to start a series of drill holes up to 300 meters below level 15 in Q3. We will be halfway through Q3 this week and therefore it is possible that two drill holes have reached 1,000 below the surface (300m below level 15).
When this deep probe drilling is complete, Metanor should have sufficient information to finalise their Feasibility Study, which could include a longer than expected mine life.
Extracts from the June 5th Press Release
There are two drills underground at bachelor permanently as the prospectivity is great in all directions. The recent drill results have been above expectations and are ongoing.
In the month of May, 7 new drill holes totaling 1,215 meters have been completed.
Metanor is very encouraged by the results achieved to date in its efforts to increase the
resource at its Bachelor Lake mine project. It is now planned to maintain permanently the
presence of at least two drill rigs underground in order to continue to achieve the following objectives: further increase the resource and continue the development of the mining project into production.
In addition, in the third quarter, Metanor intends to initiate a series of drill holes to probe the Bachelor deposit up to 300 meters below level 15 (level 15 is located 710 meters below the surface) as the deposit is open at depth.