RE:RE:RE:RE:No posts in a while hererdwww wrote: drilling expected mid to late May I think. Which target gets it first, not sure yet. Permits are in, some back , some pending. All the VTEM is in te past 3 NR's on their website, click on the PDF to see. A couple of the CM SE targets only have 2 dimensions, since they are flat lying, but otherwise ADZ seems to have offered up dimensions for most of the targets. Allows armchair analysts to start guessing at the Oz potential.
Thanks for the breakdown; appreciate it
Assuming you aren't an armchair analyst (maybe you are), and that you've been following this story for quite some time, I'm wondering if you could share some perspective of the bigger picture.
The Overlook project ran about a quarter million oz from 1990-1992 by Echo Bay Gold. Back then, as is commonly being realized today in 2017, they suffered from - something - I don't quite know what, which prevented them from accepting the 'fold' theory that was known back then at the time of operations.
Fast forward to 2014 and Adamera digs up or uncovers this fold theory and determines that there could be between 1-3 million oz that Echo missed.
Fast forward to 2017 and drilling has yet to begin, but it is finally beginning.
My first question would be - was it a land permit issue that prevented this oversight project from being conducted along time ago, say, pre-2011 when price of gold easily could have justified the program? And since 2014, has it been a financing issue of why there have been no drilling until Q2/2017 (presumably)?
Secondly, as the fold appears to be generally accepted, and despite being potentially connected to overlook, are there challenges in mining a formation such as this where erosion shows the sulphide zone could be completely fragmented (if that makes sense)?
Finally - as it appears there is a lot happening with this company - and they appear to be in a time-sensitive situation, what's the general drilling strategy assuming they can't be running a huge crew on all targets? Too hard to say? Or Oversight first to confirm the fold and move out from there?