McNickel, currently in the throes of filing a preliminary prospectus, is not in a position to say much except that it plans to conduct a normal exploration program to assess its massive sulphide prospect.
A McNickel spokesman said the company expects to close its financing in about five to six weeks and with funding in hand will start drilling.
When asked why drilling won’t be started sooner, the spokesman said that rushing in to drill a few holes on the McNickel massive sulphide bet wouldn’t tell the company much.
“To evaluate this large a sulphide showing, we need to do a significant amount of drilling,” he said. “Why jump to point C when we haven’t completed A and B yet.”
The company is now finishing linecutting and geophysical surveys on the property to provide control and to define targets for this year’s drilling. It hopes to raise enough money to undertake a large scale drill program this summer.
The drilling contract has not yet been let, but the company says it has received numerous inquiries from diamond drilling contractors eager to bid on the upcoming work.
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