more out thereHave just confirmed with the company that all the autumn drilling was on the Pebble deposit in the Resource Lands- the objective to define that deposit. In fact there will be wastage from the 26m ounce gold resource indicated when it comes to proving reserves but the deposit is still open on two sides so there is more to deliniate at Pebble in recompense.
However NO drilling was done on the Exploration lands, all 89 sq km of them. This is a shame as there are indications of high grade deposits there. Earlier drilling in 2002/3 had established 4 interesting locations for a start, 25, 38, 52 and 37.
25 is 5km south of Pebble. The earlier drilling intersected 6.1 meters of 28.9gpt gold That intersection was 350 meters from a Cominco hole which measured 33gpt gold over 1.5 meters. 37 is a scarn formation located at the SW corner of the property in which an exploration drill encountered 6.5 meters measuring 3.6gpt gold and 1.7% copper.
The Exploration lands will be returned to in the next 17,000-meter round of drilling in April/May this year to enable NDM to deliver their meterage to secure their 50% of the Exploration lands. There is every indication that these locations and others apart from Pebble itself could provide substantial high-grade deposits. These could benefit the initial "starter-pit" picture.
Next news will probably be on the results of engineering feasability studies now being undertaken, in March/April. The town of Iliamna has already upgraded its airport and Alaska may contribute to or even pay for the road to encourage Pebble full development.