RE:RE:RE:RE:RE:RE:RE:RE:RE:Eureka!An open pit is not viable, this deposit is too deep for that and would be very costly, its out of the question.
They are looking for a Joint Venture Partner to help cover the drilling costs.
New Release from April 9th 2015.
Pecors Drilling Update
The Company has been informed by Don Hawke, P.Geo., Consulting Geologist, that Orbit Garant Drilling Services Inc. of Val D'Or, Quebec is advancing ahead of schedule. Pecors Hole #1 was reported to be at a depth of 909m as of 7:00 p.m. EST on Wednesday April 8th.
Since last reported on April 3rd, the drilling proceeded through the Matinenda formation and into the Thessalon formation basalts at 548m. We then entered a gabbro unit at approx. 600m, the rock type which could host potential Ni, Cu, & PGE mineralization. During the logging from the 600m depth through to the current level; disseminated pyrite, chalcopyrite, and pyrrhotite mineralizaton was noted in the gabbro. The Company is very encouraged with this visible sulphide mineralizaton and is expecting to continue drilling through to 1200 meters. The drilling contractor will leave for a week after finishing Hole #1, which will allow time for our geologist to finish core logging and begin cutting and sampling drill core to be sent for assaying. The 2nd drill hole is already being planned, and will commence immediately upon return of the drilling contractor.