Future Drilling
From what I understand, CYP is anxious to drill sufficient holes in order to get an inferred resource estimate. The 9-hole program drilled by Cypress on the Dean property cost $125,000 US which included all assaying and geo costs. They are still waiting on the BLM’s report on recovered land disturbance. The 9-hole program drilled by Cypress on the Dean property cost $125,000 US which included all assaying and geo costs.
PE has to spend $150,000 on the Glory property by Aug. 22. That’s enough to drill 1 brine well or 9 or 10 shallow holes into the clays – the two most likely scenarios. Bigger numbers in either direction (brine or claystone) should contribute to share price for both; and in the case of brine, to the resource estimate for PE.