Replies to post #150544 on Sarissa Resources Inc (SRSR)

[es1]

True. I shouldnt discount the holes like they dont exist. But srsr has drilled very few holes compared to any other mining operation.
I was under the impression they drilled so few because the whole point was to validate the prior work.
If the holes are 50 meters away from the prior work they could not validate the hole they intended to validate.
It may validate a different hole if they are closer to it then the intended target (unlikely)but really it is like the prior work was never done and we started our own grid.

If that is the case they should just start over on the correct grid.
It would take less holes to start over and validate prior work than to drill our own grid.

That puts us right back to where we were when scott took over.

JMO

But drill holes are far less important than the fees imo

[Truth Bryce]

webpence: You are right. One needs to know exactly where the Gulf drilling was done in order to model the ore body to get the project closer to pre-feasability.

If I remember correctly, after historical hole #10 was identified, SRSR had been drilling 30 metres off on the Northing and 12 metres off on the Easting. Fortunately, now we have a cohesive model of all of the drilling; hence, we can use the historical data to save us probably millions in drilling if the company had not matched the 50's hole with the 21st century holes.

As to more drilling, as far as I know the engineers have suggested two extremely long (800 metres each) 45 degree holes across the deposit would be enough to allow mining plans. Maybe, (I estimate $200 Canadian for each metre of drilling, covering all costs-drillers, geologists, assays, core cutting etc)another $300k in drilling.

The real investment now would be in mettalurgy, a pilot plant , environmental studies to illustrate that the project is economical. Perhaps, another 5MM Canadian altogether.

You are right again, in that the Nemegosenda deposit is very consistent and, since it is right from the bedrock (4M-11M of overburden throughout the deposit)it can be open pitted which is a much more effective, efficient mining method.

One point where I disagree with you, es1, is on fees. No one has gotten fees for a long time. The only fees currently being paid out are going to the SRSR lawyer to advise on the dissident shareholder letter which, in my opinion, is a total waste of time and money. Focus and capital should be going into the ground ,rather than in a ill advised hissy fit.