My questions:
On Feb 20, 2015, at 2:03 PM,
Hi Dan how are you?, I have a question its under my impression Srsr is looking to come out with an In-term NI report , then an uplist to new exchange and then follow up with additional drilling . Is this the order Srsr is working towards . If not could you explain I'm very green to all of this so sorry to have you explain this to me . Also will this Interm NI report come out with a resource estimate.
Thank you ,
Dans Reply
That is exactly the plan. The initial plan that was announced last Fall we expected the drilling program and evaluation of the MDMN cores to provide the results required to achieve the indicated resource by RPA Associates. However, we discovered the drill cores from MDMN were not in the condition that we had been expecting and there for didn't meet the QC/QA standards we and RPA require. Furthermore unbeknownst to anyone involved in the project initially through now understood the grid of hole locations were off a little bit. This fact wasn't discovered until we drilled the 4th hole this past fall and discovered the original gulf hole. This brought us to understand that two of the holes we drilled didn't meet the QA/QC standards to be considered twin holes. So those holes were reclassified as infill holes. Those infill holes like all the ones previous correlate highly with Gulf Dominions previous work and further raised confidence that the Gulf Dominion work can be brought into NI compliance standards.
The real issue here isn't a geological problem but a regulatory problem. We need to provide enough new proof so that a independent geologist is willing to sign their name taking Gulf Dominions work from a historical to a compliant one per the National Instrument Standards.
We though the original plan would do that and perhaps we may have even still gotten an inferred resource from RPA but that wouldn't have really benefited the project nor the Preliminary Economic Assessment as an indicated and measured resource is what drives the development of a project like this.
In the upcoming drilling RPA will be selecting the hole locations to best tie in to their data model.
So in the end progress remains on the horizon but a few months from now we will be looking much better.
Dan Byrnes
Sent from my iPhone
AI
