As you suggested, there is very little overburden on this property, so drilling should move at a fairly expeditious rate. The drillers suggest that drilling should be completed in 2-3 weeks on the Mustang property. I understand that internationally-renowned MPH Consultants are involved. They have a number of kimberlite discoveries to their credit elsewhere in the world, particularly in Africa. Their expertise in finding pipes obviously will prove invaluable as other juniors are still struggling to prioritize drill targets that make sense geologically and from a geophysical perspective.
The market seemed to greet the announcement of the start of CYR's drill program with a palpable sense of caution. Obviously, everyone wants to see who will be the first to find pipes outside of Ashton's hallowed ground. And that seems likely. It's hard to believe that Ashton will end up with everything. For instance, in the early days of the NWT diamond play, DiaMet bragged that it had probably bagged all of the Lac de Gras pipes. Since that time, over 200 pipes have been found in Lac de Gras -- many of which are not on DiaMet's property. So, the Buffalo Hills Craton appears to have many more buried diamondiferous secrets that will likely be uncovered over the next 12 months.
But right now, all hopes rest on CYR and Victory Ventures (both of whom have just started drill programs). If either company hits, then the Alberta diamond play will really kick into high gear.
Working on the notion that kimberlite pipes are typically found in clusters of up to 50, then CYR seems to statistically have a good shot. This is because of the close proximity of the Mustang property to Monopros' Mountain Lake kimberlite pipe
So, keep your fingers crossed. If CYR does hit, then the stock is sure to rock and roll. |
