GREAT Crux Investor Update with Tom Larsen !!!!!A very timely update on drilling progress and some meaningful timeline information
My important take-aways...............
Raidal drilling of SBBP almost finished...........now drilling DSB 06 which is Azimuth 220....towards the MBP but at near vertical -85 dip............this will be the deepest hole in this first pass of the SBBP......and may even tell us if SBBP and MBP joined at depth...........Tom seems to thinks we are getting into more porphery as we go deeper with higher tin, copper and bismuth credits.........and perhaps richer rock value
Next is 2 more holes to test north south extent of MBP.and 2 more holes to probe the depth at each end...........and because it is 700 meters long will require to setups.........one about a third up and the other at 2/3 up..............will drilling production at 80 to 100 meters per day with two shifts.........they are moving very quickly with the program
At the end of this program we will have a notional tonage outline tha will be very meaningful
His base case expection is 300- 500 milion tons of rock valued similarly to San crystobal which is about the same size and at about $100/ton rock...........cost to mine is about 50 bucks...........so we an do the grade 3 math required to make at least a scale type of assessment..........
My crystal ball says $10/sh in next 4 months if all the above is verified by mother nature herself
GLTA