Thursday, November 24, 2022 9:58:51 AM
https://finance.yahoo.com/news/search-minerals-reports-14000m-deep-090000851.html
Resource Delineation and Exploration:
Drilled 63 holes for a total of 10,651 m of oriented core;
All core will be lithologically, structurally, and geotechnically logged;
All mineralized and selected non-mineralized intervals are being sampled for assay and tested for specific gravity and magnetic susceptibility;
Drilled several holes beyond the outer limits of the current mine pit design particularly towards the east;
Visual mineralization observed in every drill hole.
Geotechnical Program:
Drilled 13 holes for a total of 3,362 m of oriented core;
A total of 11 of the 13 holes intersected mineralization and will become part of a new 2023 resource estimate;
Selected holes had vibrating-wire installations (3), were surveyed with Optical Borehole Imaging (3), were surveyed with Acoustic Borehole Imaging (7) and had Packer Testing performed (6);
All core has been geotechnically logged;
Mineralized intervals in this core has been lithologically logged and sampled for assay similar to the Exploration program listed above;
Selected samples have been collected and sent out for further geotechnical testing at a geotechnical laboratory.
Next Steps of our Exploration Program:
We anticipate having all assay results and data interpretation complete to initiate the updated resource estimation by mid-2023.
We will continue our channel sampling programs at DEEP FOX and FOX MEADOW.
Form your own opinions & conclusions:
IMHO:
"Search Minerals recent drilling program has closed all the gaps on their initial combined Mine Prospects DEEP FOX & FOX MEADOW. Incorporating final Ni-43-101 results into final pounds in the ground calculations sets SEARCH Minerals up nicely to boost NPV & economics moving forward. Production in 2026/2027 works for me! SEARCH should be announcing progress on ongoing Demonstration Plant soon!
***Nice to add to a position here. Note: this is a highly speculative stock & (Given outstanding shares a reverse split may be needed, or partnership BUY-IN (USARE) would work very nicely heeding into final F.S."
I would expect once final numbers & economics are calculated into a Final F.S. (For Open Pit Mine/s) the Capex may be reduced further to the $400-500 Million range as both Canadian, & Search Minerals will be able to separate concentrates! I am looking forward to seeing what USARE does moving forward as well. They will need to augment REE production to implement their plans moving forward, & are currently building separation & magnet capacities!!!!
Holding into 2023 like I stated...
Chico
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