Post by
speculator on Oct 31, 2014 4:50pm
Talked to Chad
We should hit bedrock any time now, defintely over the weekend. (He expected it today).
The overburden is believed to be 30 to 50m.
There are 20 drill targets and $800.000 cash, enough for this winter drill program.
First hole likely to be done in approximately 2 weeks.
Comment by
losecash on Oct 31, 2014 6:01pm
This is the core rig drilling now then? Also did they mention any results from the rab drill?
Comment by
speculator on Oct 31, 2014 6:15pm
Yes, the core rig is NOW drilling. No, he did not mention any resutls.
Comment by
losecash on Oct 31, 2014 9:31pm
Good to hear.......lets hope for a hit
Comment by
Horta on Nov 04, 2014 4:44pm
was there any news release about the update to the drilling and having a core rig? Would be nice to have better communication about exactly what is going on out in the field. Does anyone know how many holes they plan on drilling or any further information?
Comment by
speculator on Nov 05, 2014 8:42am
Chad told me 20 holes and the $800.000 cash they have are enough, no other expenses but maintainance. Perhaps phone for update? I told him I phone back in a couple of weeks.
Comment by
losecash on Nov 05, 2014 3:57pm
Just what I had hoped wouldn't happen. If they say they have the cash to finish core drilling that is good. But no holes completed yet with the RAB ? Yikes.
Comment by
Horta on Nov 05, 2014 8:24pm
thanks for the additional info. That is rough about the RAB drilling.
Comment by
HighROI on Nov 06, 2014 9:04am
No problem. I don't know much about RAB drilling but I would assume the drilling could be staggered. RAB drill a bunch of targets to refine the core drill target then punch a hole. Rinse and repeat for each of the 20 targets. So not sure if we are horribly off track of getting holes drilled if they can get the RAB going.
Comment by
bandi10 on Nov 06, 2014 4:52pm
Don't hold your breath for any quick progress. These guys can go through a lot of money and accomplishing very little. Just look at CD and MTX history to see where this company is headed. Probably the next announcement will be about another bout of financing to get the real drill program going. When are the next financials due? Just see where the money went.
Comment by
losecash on Nov 06, 2014 5:32pm
Thats too bad. The targets look very promising from a geologic standpoint. How ever the technical know how on how to drill appears to be in question. Two attempts and 2 strikes so far.