Jackc:
Per my understanding of these GBN comments, it seems to me that future drilling will in fact be much deeper:
"The best exploration potential for the more traditional Carlin-style deposits in the lower plate rocks occur at depths ranging from 5,000 to 6,000 feet (1,524 to 1,829 metres) in the silty carbonate host rocks of the Rodeo Creek, Popovich and Roberts Mountain Formations...The Little Boulder Basin discovery may provide the best analogy to the deep exploration planned for the Hatter area and the Ivanhoe Property as a whole, as it demonstrates that high-grade gold mineralization exists over a considerable range of vertical depth throughout the Carlin Trend...
However, the presence of mineralization in stratigraphy indicates that many of the criteria contributing to the formation of a "Carlin-type" deposit could be present beneath the Hollister-Hatter area...A re-interpretation of exploration information for the eastern half of the property resulted in the recognition of a second major structural trend on the Ivanhoe property. The north-northwest trend of the newly identified major fault structures is the same as the principal ore-bearing structure at Ken Snyder and other mines in northeastern Nevada. This new structural trend provides potential to find significant, additional high-grade gold vein systems."
Looks like the Hatter area for sure will be drilled deep and maybe E Clementine as well... Given your $400K per whack figure, let's hope it doesn't take too many whacks...
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