Cost to complete recommendations in Revised tech report
Exploration Update
Queensway Project
May 31, 2022
240
Table 26–1. Summary of Phase 1 recommendations and estimated costs.
Estimated
Cost ($C)
Geophysics & Interpretation $8,415,000
QWN − Direct Current resistivity Induced Polarization (DCIP) survey $750,000
QWN − 3D seismic survey $7,000,000
Geophysical interpretation $300,000
Geological interpretation and modelling $300,000
Gander Lake bathymetry survey $65,000
Surface Exploration $1,620,000
QWS − Prospecting and geological mapping $1,000,000
QWS − Till program $200,000
QWS − Soil program $400,000
QWS − Trenching $350,000
QWN − Keats trenching $150,000
QWN − Joe Batt’s Pond trenching $150,000
Environmental and Social $1,100,000
Aquatics (streams and pond baseline studies) $100,000
Water monitoring program $250,000
Flora and fauna surveys $100,000
Seasonal 3D ground water modeling $100,000
Habitat studies $50,000
Incidental wildlife studies $50,000
Socioeconomic studies $100,000
Reclamation options $350,000
Drilling $62,900,000
QWN − AFZ and JBPFZ diamond drilling (212,000 m of HQ) $56,180,000
QWS − Greenwood and Paul’s Pond diamond drilling (12,000 m of HQ) $3,180,000
Twin Ponds − Diamond drilling (6,000 m of HQ) $1,590,000
QWN − JBPFZ RC drilling (10,000 m of 60.3 mm inner diameter CIP) $1,950,000
Analytical Procedures $190,000
PhotonAssays and screen fire assay comparison (1,000 samples) $100,000
Lab density measurements for gamma-gamma calibration (4,250 samples) $65,000
Gold grain size study (20 samples) $25,000
PHASE 1 TOTAL (with 15% contingency) $86,000,00
Exploration Update
Queensway Project
May 31, 2022
241
Table 26–2. Summary of Phase 2 recommendations and estimated costs.
Estimated
Cost ($C)
Drilling and Geotechnical $66,450,000
AFZ and JBPFZ diamond drilling for prospect identification (100,000 m of HQ) $26,500,000
QWN − Infill diamond drilling for inferred mineral resources (100,000 m of HQ) $26,500,000
Step-out diamond drilling to close off prospects (50,000 m of HQ) $13,250,000
Geotechnical study $200,000
PHASE 2 TOTAL (with 15% contingency) $77,000,000