Near Term Plans
- Initial phase of exploration drilling to be conducted over the next 18 months.
- Program will satisfy remaining work commitments under existing exploration permits of about $18 million.
- Initial program is at least a 5 well program to extend initial tenure of permits and explore broad basin potential.
- A base camp is currently being built adjacent to the Dempster Highway to support field operations.
- First well to commence drilling during the summer.
Longer Term Plans
- Analyze initial exploration drilling results.
- Perform further work directed by those results.
Follow up work may include:
- Additional exploration and appraisal including seismic and drilling;
- Development drilling, processing facilities and shipping infrastructure;
- Production delivered to growing Yukon and possibly export markets.
Production decision depends on:
- Size of any discovered resources;
- Cost of development;
- Market size.