Jumping The Drilling Shark Congratulations to those of you who have been waiting for this.
Drilling is going to start soon. I hope it does for your sake. Read that news release carefully guys. I would expect a positive reaction from the market and then a pullback. It won't move past that high until drilling actually starts in September. They should announce again once the drill is in the t dump.
It's a bit weird that TTX management did not wait until the drills are actually in the ground. They say they will be soon.
They had better deliver. Preemptive announcements are not the best way to operate. Talk about jumping the shark.
Best of luck all
A contract for an initial 5,000 metres of aircore/RC drilling has been signed with Equity Drilling who are already very familiar with the area of Manono. The drilling crew is mobilising to Manono on the 16th August and drilling is expected to commence within 2-3 weeks.
A total of 5,000 metres is planned in 139 holes on three dumps in Phase 1 (Table 1). The thickness of the dumps ranges from 10m at the B dump to 72m at the G dump. The average dump thickness is 46m.
Drilling on the initial 5,000 metres will commence on the adjacent H and G dumps in the Kitotolo Sector (Figure 2) and then move to the C dump in the Manono Sector. Drilling is expected to take 4-6 weeks to complete.