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Gold/Mining/Energy : Holmer Gold Mines
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To: Hoa Hao who wrote (719)10/12/1999 8:30:00 PM
From: Midas  Read Replies (1) of 739
 
Hoa:

Drilling programs, like the one needed to finish definition drilling of an open pit on the Holmer property, are often scheduled for the winter because lakes, swamps and the ground are frozen making the movement of drills much easier. A drill program started by the end of October will run for about 6 weeks before the Christmas break. Starting the drill up again as soon as possible in the new year will result in a 15,000' drilling program being finished by mid- to late February. Drafting up the results and the engineering/feasability studies might take another 1 to 2 months, putting us at the end of April. This is a good time to start stripping overburden for an open pit and getting the ground work done to move a lot of waste and ore during the summer when pit operation is cheapest.

Looking at this from the other end of the story, if you want to start an open pit in early May, 2000, you must start your drilling program within the next couple of weeks.

Midas
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